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TWO
SECTIONS —SECTION
Railway & Industrial Section
Bankers* Convention Section
Copyrighted in 1910, by WILLIAM B. Dana Company, New York.
NEW
VOL. 91.
THE FARMERS’ LOAN & TRUST
COMPANY
Harvey Fisk & Sons
NEW
BANKERS
Government,
The Company Is a local depositary tot
and Is authorAdministrator,
Trustee, Guardian, Receiver, and In all
sther fiduciary capacities.
Acts as Trustee under Mortgages made
by Railroad and other Corporations, and
as Transfer Agent and Registrar of Stocks
and Bonds.
Receives deposits upon Certificates of
Deposit, or subject to check, and allows
Interest on dally balances.
Manages Real Estate and lends
money
bond and mortgage.
Will act as Agent In the transaction of
an
approved financial business.
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
any
New
York.
Fiscal Agent for States. Counties and
Oltles.
16-22 WILLIAM STREET
Railroad
THE
NATIONAL
BANK
OF NEW YORK
PHILADELPHIA, represented by
JAMES H. CHAPMAN. 421 Chestnut St.
CHICAGO, represented by D. K. DRAKE,
218 La Salle St.
BOSTON, MASS., represented by
JOHN B. MOULTON. 85 Congress St.
The National Park Bank
of New York
I3S BROADWAY
N. W. HARRIS A CO
BANKERS
Organised 1888.
Capital
Surplus and Profits
Deposits Nov. 10,1910
.
.
$5,000,000 00
12,550,168 20
99,481,680 81
.
RICHARD DELAFIELD.
President.
GILBERT G. THORNE.
Vies-President.
8
JOHN C. McKEON.
Vice-President.
JOHN C. VAN CLEAF,
Vice-President.
NEW YORK
MAURICE H. EWER.
Cashier.
PARIS
LIBERTY
and
INVESTMENT SECURITIES
475 FIFTH AVENUE
LONDON
NO. 2373
YORK
Municipal Bonds
moneys paid Into Court,
Med to act as Executor,
a*
t
WILLIAM O. JONES.
WILLIAM A. MAIN.
Aset. Cashier.
Asst. Cashier.
FRED’K O. FOXCROFT. Asst. Cashier.
PlR* StTMt, Comer William
NEW YORK
S3 Federal
Receive
and
Act
St.. Boetoo
deposits subject to cheek
Interest on balanoea.
aUow
as
palities
letters
fiscal
and
of
agents for munici¬
corporations
Issue
credit
and
deal
In
*
BONDS FOR INVESTMENT
LIST ON APPLICATION
Members of Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons
BANKERS
Corner 9th tnd Main Streets
RICHMOND, VA.
Baltimore
Edward B. Smith A Co.
THE
MECHANICS AND
METALS
NATIONAL BANK
Correspondents:
BANKERS
INVESTMENT
SECURITIES
M1DDENDORF. WILLIAMS A CO.
GARFIELD NATIONAL BANK
Fifth Avenue Building
Corner 5th Ave. anc123rd St.. New York.
Capital, $1,000,900
Members New York aud Phlla. Stock Exehanpt
33 Wall Street
N. B. Cor. Broad A Chestnut Sts.,
Capital,
Surplus,
$6,000,000
Philadelphia
27 Pine Street. New York
6,000.000
Surplus, $1,000,000
ItUEL W. POOR. President
JAMES McCUTCHEON. Vloe-Pres.
WILLIAM L. DOUGLASS. Cashier
ARTHUR W. SNOW. Asst. Cashier
ORIGINAL CHARTER 1829
THE
Chase National Bank
Clearing House Building
Cap. & Sarp.. U2.708.779
A. B.
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
Dep., $96,760,278
HEPBURN. President
A. H.
WIggin, V.-Pres. C. C. Slade. Asst. Cash,
f. H. Miller. V-Pres.
E. A. Lee, Asst. Cashier.
I. M. Conkey. Cashier. W. E. Purdy. Asst. Cash.
A. C. Andrews. Asst. Cashier.
OF RAILROAD, GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
109-111 SOUTH FOURTH STREET
PHILADELPHIA
THE
NATIONAL
-CORNER NASSAU AND PINE
STREETS—IS
ESPECIALLY
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
SAMUEL
BANK
OF THE CITY OF NEW YORK
$1,000,000
2,450,000
OFFICERS
EQUIPMENT OF THE
FOURTH
OF THE CITY OF NEW YORK
Capital
Surplus and Profits (earned)
First National Bank
of
WOOLVERTON, President
ADRIAN ISELIN JR., Vice-President
GEORGE E. LEWIS, Cashier
HOWELL T. MANSON. Aset. Cashier
Philadelphia
315 CHESTNUT
STREET
DIRECTORS
Adrian Iselln Jr.
Alexander H. Stevens
Chas. A. Pee body
Samuel Woolver ton
Charles a Tweed
W. Emlen Roosevelt
Thomas Denny
Frederic W. Stevens
ACCOUNTS
INVITED
h
f; Vi
<
second class mail matter.
as
YORK, DECEMBER 17 1910.
IPuanxtal.
out the world
’
Electric Railway Section
State and City Section
Entered at N. Y. Post Office
Utuanctal.
Foreign Exchange, Cable Transfer*,
Letters ef Credit Payable through¬
*r> o
rontrb
INCLUDING
Quotation Section
Railway Earnings Section
i
fittanrial “
(pronttrial f
Bank &
y
t.
ONE
«
m
THE CHRONICLE
n
[VOI.. T-TTXTI
Xautuvs *w& gxxmex* at goncetfltt fgjgjcfeattjepe.
I. P. MORGAN & CO. Maitland, Coppell & Co., Kidder, Peabody & Co.,
DOMESTIC AND FOREIGN BANKERS
Wall Street
'
62 WILLIAM STREET
Corner of Broad
DR1XEL ft CO,
PHILADELPHIA
Corner of 5th ond Cbeitnut Streets
Orders executed for all Investment Securities.
Aot as agents of Corporations and negotiate and
BiUe #/ Exchange,
Union
of
London
&
INVESTMENT SECURITIES.
FOREIGN EXCHANGE.
Smiths
Bank.
London,
SI Boulevard Haussmann
Limited,
Messrs. Mallet Freres & Cie., Paris,
Banco Nacional de Mexico
And Its Branches.
Deposits received subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchanges Commercial Credits
Cable Transfers
alveolar Litters for Travelers available In all parts
of the world
LETTERS OF CREDIT
Correspondents of
Agents for the Bank of Australasia, the British
Guiana Bank, Demerara, etc., etc.
BASING
BROTHERS
PHILA.
BOSTON.
NEW YORK.
_
,
f
BANKERS.
NEW YORK
No. 88 NASSAU STREET.
Members New York Stook Exchange.
Buy and Sell Investment Securities
•
Agents and Correspondents of the
Messrs. ROTHSCHILD.
London, Paris and Vienna.
Letters of Credit for Travelers.
Available In all Parts ef the World
ISSUE LETTERS OF CREDIT
DRAW BILLS QF EXCHANGE AND MAKE
TELEGRAPHIC TRANSFERS OF MONEY TO
EUROPE AND CALIFORNIA
for Travelers
Available In all parts of the world.
Draw Bills of Exchange and make Telegraphlo
Transfers to EUROPE. Cuba, and the
other West Indies. Mexico and California.
Execute orders for the
Bonds and
.
^
Issue
,
Buy and seU Bills of Exchange
Seligman Brothers, London
Seligman Preree A Cie., Patio
purchase and sale of
Aleborg, Goldberg A Co* Amsterdam
Stocks.
The Angle and London-Patio NmHonm
Bank of San Erancieeo, Cal.
,
an parts of the world.
BROWN, SHIPLEY & CO.. LONDON
Seligman & Co.,
BANKERS
August Belmont & Co.,
_
LCllCrS end make cable transfers on all
•
points. Issue Commercial and
rtf f 1* Lilli
H11 Travelers’ Credits, available In
LTD
TRAVELERS’ LETTERS OF CREDIT
Available throughout the United States
69 Wall Street
ALEX. BROWN A SONS. BALTIMORE.
Connected by Private Wire.
Mems N. Y., Phila., Boston A Balt. Stook Exob’s.
Buy and sell first-class In- T
vest me it Securities on com- I nuPGtm pnt
mission.
Receive accounts AilVColllldll
of Banks, Bankers, Corpora- O
L!
tlons, Mr ms and Individuals OCCUItlICS
on favorable terms.
Collect
drafts drawn abroad on all points In the United
States and Canada; and drafts drawn in the United
States on foreign countries, including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT,
00.
A
LONDON
J. & W.
Brown Brothers A Co.,
STREET, BOSTON
STREET, NEW YORK
BANKERS
on
CO*, PARIS
&
Telegraphic Tranefere,
Lettere of Credit
No. xa Old Brood Street
HARJES”
66 WALL
Issue Loans.
■ORGAN. GRENFELL ft CO, LONDON
MORGAN,
Ut DEVONSHIRE
NEW YORK
REV YORK
Graham, Vaughan & Co.,
44 Pine Street. New York.
TAILER&CD
27 Pine Street, New York
BANKERS
1Rnhmmd&€a
INVESTMENT SECURITIES
BANKERS
81-38 Fine
MEMBERS NEW TORE STOCK EXCHANGE
SOT Chestnut Street, Philadelphia.
BANKERS
Lawrence Turnure A Co.
INVESTMENT
Members of the New York Stook Exchange
Winslow, Lanier & Co.,
64.66 Wall Street, New York
Deposits received subject to draft. Interest al¬
lowed
on
deposits.
Securities bought and sold
on
commission. Travelers’ credits, available through¬
out the United States, Cuba, Puerto Rico, Mexico,
Central America and Spain. Make collections In and
Issue drafts and cable transfers on above countries.
London Bankers:—London Joint-Stock Bank,
Limited.
Paris Bankers:—Heine & Co.
59 CEDAR STREET
Produce
BANKERS
Be posits Received Subject
Allowed
on
to
Deposits.
Bought and Sold
Commission.
Draft. Interest
Securities
on
Bills of
Cheques;
Exchange and Cable Transfers.
Deposits
reoelved subject to cheque
interest allowed on deposits.
ami
Members New York Stook Exohange.
Securities bought and sold
on
oommlmlea
Aot as Flsoal Agents.
Dealers In High-Grade Investment Securities.
Exchange Bank
BROADWAY. Corner BEAVER ST.
Capital
Surplus samed
Foreign
Foreign Exchange, Letters of Credit
of Credit and Travelers’
available the world over.
Lists upon applloatlon.
NEW YORK
NEW TORE
so
Cablet "Mimosa.”
Letters
Bankers
SECURITIES
i
Street, New York
684 Fifth Ave., N. Y.
-
-
-
-
$1,000,000
600,000
Exchange bought and sold.
Graham & Go.
Cable
Transfers.
Commercial and Travelers’ Letters of
Credit available In all parts of the world.
BANKERS
486 Chestnut Street
ACCOUNTS INVITED
Kean, Taylor & Co.
HEIDELBACN, ICKELHEIMER & CO.
BANKERS
87 William Street,
BANKERS.
PHILADELPHIA
Government
Securities
and
of
Municipal Bondi,
Railroads, Street
Railways and Gas companies
of established value;
MEMBERS N. Y. STOCK EXCHANGE.
30
PINE STREET, NEW YOQK.
Transact
a
Beneral Foreign and Domestic
Banking Business
Doaim in Investment Securities
John Munroe & Co.,
TCIW YORK
BOSTON
Execute orders for purchase and sale of
Stocks and Bonds.
Foreign Exchange Bought and Sold.
srslai Gkedlts.
Foreign Exchange.
GsMe Transfers.
MONROE A 00,. Paris
Issue Foreign and Domestic Letters ef
Credit and Travelers’ Cheques
Issue Commercial and Travelers* Credits
available in all parts of the world.
Schulz & Ruckgaber,
BANKERS,
Knauth, Nachod&Kiihne
Correspondents of Messrs.
Fruhlmg & Goschen, London.
John Berenberg-Gossler A
Co., Hamburg.
Marouard. Meyer-Borel A Cle., Paris.
Bremer Bank Flllale der Dresdner
Bank,
NEW YORK
18 William Street,
....
New York
Members New York Stock
Exchange.
_
Letters ef Credit for Travelers
Act as Financial Ass*is
...
Bremen.
Issue Commercial A Travelers’ Credits.
Buy and S«u Bills of Exchange.
©able Transfers A Investment Scourltiee
BANKERS
LEIPSIG, GERMANY
Members New York Stook
INVESTMENT
SECURITIES
Deo. 17 1910. J
THE CHRONICLE
Ufanluvs.
Usttfeec*.
Hattfeevs.
Millett,Roe & Hagen
Lee, Higginson &Co.
BANKERS
Wm. A. Read & Co.
BOSTON
New York
Buildings, Prince’s Street,
LONDON, E. C.
S3 Wall StrMt
N.w York
BANKERS.
Dtalira In
Members New York. Chicago and Boston
Stook Exchanges.
HIGH-GRADE BONDS
Chicago
HIGGINSON &. CO.
I Bank
1U
Investment Securities
Members New York Stock
Exchange
Boston, 15 Congress Street
25 NASSAU
STREET,
NEW YORK
Plympton,Gardmer&Co.
BOSTON
BALTIMORE
CHICAGO
N. W. HALSEY &
LONDON
Membera New Tork and Chicago
Stock Exchanges
BONDS FOR INVESTHENT
Conservative Investments
Interest Allowed
on
Deposit Aoeounta
Fiscal Agents for Cities and
LISTS ON REQUEST
27 William St.v New York
M2 La Salle Street,
54 Old Broad Street,
CHICAGO
LONDON, E. C.
Rhoades&Company
40
Wall Street, FEW TORK
Philadelphia
Chicago
San Praaelaca
STREET. NEW YORK
George P. Butler & Bro.
85 Wall Streel
Trowbridge & Co.
High-Grade Bends
State,
Municipal
and
Railroad
Members New York Stook Exchange; Execute
Commission Orders; Deposits received subject to
draft.
Letters of Credit and
Travelers* Checks
Available Throughout the World
Bonds and Stocks
for Investment
HARTFORD—86 Pearl Streel
NEW YORK
111
134 Orange St.
BANKERS
CHICAGO
Blake Brothers 6c Co.
BOSTON
BOSTON
Dealers In
Exchanges
Execute orders for purchase and
sale of
Stocks and Bonds
Buy and Sell Foreign Exchange.
CABLE ADDRESS. ••COLDNESS”
14 State Street,
NEW YORK
NEW YORK CITY
Issue Commercial and Travelers’
Letters of Credit
and other MUNICIPAL BONDS
Available In all parts of the world.
Investment
Members New York a Boston Stock
Exchangee
Zimmermann & Forshay
Securities
and Cemmereiat Paper
BOISSEVAIN & CO.
9 and 11 Wall
Members New York Stock Exchange.
NEW YORK.
Orders executed for stocks and bonds lor Invest¬
ment or on margin.
Exchange.
A GENERAL BANKING
STOCK EXCHANGE B USINB3S.
BANKERS
Corporation and Collateral Loans
Commercial Paper
also
INVESTMENT SECURITIES
Members New York Stock
Exchange
and Boston Stook Exchange.
84 Isegrsm St
BOSTON
111
Broadway
iNEW YORK
184 LaSalle St.
,
CHICAGO
49 WALL STREET, N. Y. CITY.
Members New York Stock Exchange.
COMMISSION BROKERS
Municipal and Industrial Sacurltlei
In Railroad,
Inquiries and correspondence receive prompt and
courteous attention.
OFFICIAL
QUOTATION SHEET WILL BE SINT
REGULARLY ON REQUEST
Wollenbcrger 6c Co.
Specialists In
Foreign Government Bonds
20C U Salle Street
BIRD S. COLER
-
-
CHICAGO
LEONARD H. HOkf
Fsreigs Exchange Bought aid Sold
W. N. COLER & CO.
Letters of Credit Issied
BANKERS
AND
BOND & GOODWIN
Dominick Bros. & Co.
Correspondence Invited.
Street. New York.
24 BROAD STREET.
TBAN3ACT
Tel. 6570-1-2 Hanevss
BANKERS
BANKERS
Adolph Bolssevaln & Co..
Amsterdam. Holland.
Draw Bills of Exchtngo and make Cable
Transfers to Europe, Asia, Australia, the
West Indies, Central and South Amerle and
Mexico.
DEALERSIN
COMMERCIAL PAPER
INVESTMENT SECURITIES
Members New York Stock
Cor. of Wall and Broad Sts.. New York.
Cable Address, Domino. N. Y.
Members of New.York & Chicago Stock
Exchange Place,
H. B. HOLLINS 6c CO.
Goldman, Sachs & Co.
60 WALL STREET. NEW YORK
10
RAILROAD AND OTHER
INVESTMENT SECURITIES.
Issue Letters of Credit for Travelers, avail¬
able in all parts of the world.
NEW HAVEN
Broadway
NEW YORK
Members N. Y. Stook Exchange
BAXKEBS
Exchange
Corporations
BANKERS
45 WALL
Members New Tork Stock
CO,
Sankara
Cable
Transfers
to
all
Parts
of
the
World.
43 CEDAR
ST., NEW YORK
INVESTMENTS
CRAMP, MITCHELL & SHOBER
BANKERS
1411 Chestnut St.
Philadelphia
Members New York and Phlla. Stook Exobanges
New York Cotton Exchange
Investment Securities
Shoemaker, Bates & Co.
BANKERS
now
iwa
oiuuh
Members! New York Cotton jsKOBange
WMfcugf
IChloago Stook Exckange
INVESTMENT SECURITIES
37-43 Wall Street, New York
500 Fifth Ave., New Yerk
THE CHRONICLE
I?
(Voi*. bXXXXI.
fmAtav.
Sntlgn.
MONTREAL
DEUTSCHE BANK The Union Discount Co. BANK OF
(Established 1817)
BERLIN W
of London, Limited
CAPITAL paid in - - $14,400,000 00
Behrenstrasse 9 to IS
59 CORNHILL
Telegraphlo Address, Udlsoo. London.
CAPITAL.
M. 200.000.000,
RESERVE
REST,
6,750.000
2.900,000
M. 105.726.164.
65—61 STERLING.
Dividends paid during last ten yean:
11; 11. 11. 11. 12. 12. 12. 12. 12. 12 H per oent
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
deposit are as follows:
At Call, 3 Per Cent.
At 5 to 7 Days* Notice,
Brandies:
BRBMBN. DRESDEN. FRANKPORT-O-M..
HAMBURG.
LEIPSIC,
MUNICH.
NUREMBURG. AUGSBURG.
WIESBADEN.
BRUSSELS. CONSTANTINOPLE
(Berlin) London Agency
4 Oeorn Yard,
Lombard 8t..
LONDON, E. 0.
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
CHRISTOPHER R. NUGENT, Manager.
The London City &
Midland Bank, Limited,
With Branohes In all the Principal Cities
Towns of England and Wales.
(Deutsche Uebersedsohe Bank.)
M. 20.000.000.
PAID-UP CAPITAL
M. 22.500.000.
RESERVE FUND
M. 6.827.000.
HEAD OFFICE
SUBSCRIBED CAPITAL, $96,741,700
(61.6S5.000)
PAID-UP
-
-
19,946,187
17,961,668
Sir EDWARD H. HOLDEN. Bart..
Chairman and Managing Director.
BERLIN
Kanonlerstrasse 29 to 60.
Brandies:
ARGENTINA: Bahta-Blanoa, Buenos Aires,
Cordoba. Mendoza. Tucuman.
BOLIVIA: La Pas. Oruro.
CHILI: Antofagasta. Concepcion, Iqolque, Oaomo.
throughout the Dominion of Canada.
London Office. 47 Threadneedle St.. E. C.
F. WILLIAMS TAYLOR. Manager.
66.000,000
Rest and Undivided Profits
4.602.167
NEW YORK OFFICE, 62 and 66 Wall St
W. M. RAMSAY.
1 Agents.
C. J. crookalL. J
156 branches In the Provlnoes of Quebec. Ontario.
Manitoba, Saskatchewan, Alberta and British
Colombia. Good facilities for effecting prompt col¬
lection* in Canada. Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world
London Agents—The London Joint Stk.Bk.. Ltd.
Canadian Bonds
MUNICIPAL AND CORPORATION
WOOD, GUNDY & CO.
Berliner
Santiago. Temuco, Valdivia. Valparaiso.
PERU: Arequlpa, Callao. Lima. Trujillo.
Handels-Gesellschaft,
URUGUAY: Montevideo.
■PAIN: Baroelona, Madrid.
Bill* ssnl for collection, negotiated or
and Cable Transfers; grant Commercial and Trav¬
elers’ Credits, available In any part of the wot Id:
Issue drafts on and make collections In Ghloago and
HEAD OFFICE MONTREAL
ESTABLISHED 1866
CAPITAL,
| Agents.
and CAPITAL
(65.857.000)
RESERVE FUND,
R. Y. HEBDEN.
W. A. BOG.
J. T. MOLINE UX
Merchants’ Bank of Canada
Telegraphlo Address: Cinnabar. London.
(67.1U.000)
SUBSCRIBED CAPITAL
64 WALL STREET
Buy and Sell Sterling and Continental Exehaige
HEAD OFFICE
5 Threadneedle Street. London. England.
BANCO ALEMAN TRANSATLANTIC!)
R. B. ANOUS. President.
Sir Edw. Clouston. Bart.—V.-Pres. A Gen. Mgr
NSW YORK OFFICE,
and the
Deutsche Bank
681,661 44
Head Office—Montreal
334 Per Cent.
The Company discounts approved bank and
mercantile acceptances, receives money on de¬
t
12,000,000 00
.....
UNDIVIDED PROFITS,
67,500.000
447.619.000 Capital Subscribed
Paid-Up
426.172.896 Reserve Fund
6 King St.. W..
TORONTO. CAN.
46 Threadneedle St..
LONDON. ENQ.
BERLIN, W., 64
advanced upon.
Behrenstrasse 62-26 and Fransoslsehe-Straase 42
Draft*, cable-transfers and letter*
Telegraphic Address—Handelschaft. Berlin.
of credit issued.
London Agents
DEUTSCHE BANK (BERLIN) LONDON AG’T
GEORGE Y’D, LOMBARD ST.. LONDON. E.O.
Canadian Bonds Bought,
Sold and Appraised
W. Graham Browne & Co.
ESTABLISHED 1856
MONTREAL
Banking Transactions of Every Description
Direction der
Disconto-Gesellschaft,
Capital,
-
-
-
-
M. 110,000,000
ESTABLISHED 18S1
Reserve,
-
-
-
-
M. 34,600,000
gunejclfltx.
VAN OSS & CO.
THE HAGUE,
BERLIN W.. 48-44 Behrenstrasse
BREMEN. FRANKFORT-o-M., MAINZ.
!
HOCHST-o-M., HOMBURG v. d. H..
i
POTSDAM. WIESBADEN.
Swiss Bankverein
LONDON. E. C..
HOLLAND
Place American Investments in Europe
Schweizerischer Bankverein
Bankverein
Tel. Address, Vooo.
Codes: Hartfl eld’s Wall St.. W. U. A Liebe*.
Suisse
68 CornhUl.
Hong Kong & Shanghai
Basle, Zurich, St Gall, Genova
CAPITAL, fully paid,
Agencies at Rorschach. Chlasso and Herisau
$40,476,200
-
BAN KINO CORPORATION
M. 170.000.000.
RESERVE
$14,307,764
M.
LONDON OFFICE, 43
60.092.611.
Lothbury, E. C.
With the unlimited personal liability
Capital paid up, . Frs.75,000,000
Surplus, .... Frs.22,500,000
af the following partners:
A. SCHOELLER.
I
M. SCHINCKEL.
Dr. A. SALOMONSOHN.
E. RUSSELL.
F. URBIG.
The
Branches:
SANTOS. PORTO ALEGRE, BAHIA.
Bank fO'r Chile und
Deutschland
M. 10.000,000 00
HAMBURG, WITH BRANCHES IN CHILE
(BANCO DE CHILE Y ALEMANIA). ANTOFA-
85
BOLIVIANA).
LA
PAZl
LONDON AQENTS:
DER DISCONTO-GESELLSCHAFFT 53 CORNHILL. E. C
DIRECTION
Discount
CORNHILL.
....
LONDON.
Subscribed Capital
Paid-up Capital
Reserve Fund
(65= £1 STERLING.)
E.
C.
621,166.625
4.238.825
2.200,000
At Call, 3 Per Cent Per Annum.
or
14
ESTABLISHED 1869
-
$26,342,009
-
(180,000,000 crowns)
NOTICE IS HEREBY GIVEN that the
RATES OF INTEREST aUowed for money on
deposit are as follows:
8 to 7
Wiener Bank - Verein
CAPITAL (fully paid)
Cable Address—Natdls: London.
At
MANIA, SECCION
ANB ORURO.
National
Company, Limited
M. 10 000.000 00
Head office: HAMBURG.
RIO DE JANEIRO, SAO PAULO,
CAPITAL.
WADE OARD’NER. Agent. 86 Wall St.
.
Brasilianische Bank
fUr Deutschland
CAPITAL
Paid-up Capital (Hong Kong Currency)
616,000.0(10
Reserve Fund/In Gold...615,000.0001
31,000.000
1 In Silver.. 10,000,000/
Reserve Liabilities of Proprietors
15.000,000
GRANT DRAFTS, ISSUE LETTER8 OF CREDIT.
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA, JAPAN, PHILIPPINES, STRAITS SETTLE¬
MENTS, INDIA.
Days* Notice, 334 Per Cent.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
from time to time ana for Hx*d periods upon
specially agreed terms.
Loans granted on approved negotiable securities
2L
PHILIP HAROLD WADE. Manager.
RESERVE FUNDS
-
-
-
$7,900,000
(89.000.000 crowns)
HEAD OPTICS VIENNA
(AUSTRIA)
Austria-Hungary
Aussig a-E., Bielitz-Biela,
Rr&nches in
Agram,
Brunn, Budapest, Carlsbad, Czerno¬
wits, Friedek-Mistek, Graz, Innsbruck
Klagenfurt, Krakau, Lemberg, Marten
bad, Meran, Pilsen, Prag, Przemysl.
Prossnitz, St. Pol ten, Tarnow, Tepiits,
Teschen, Villach, Wr. Neustadt.
Branch in Turkey
Constantinople
Deo. 17
1910.]
THE CHRONICLE
Y
ftxtuUltan.
THE CANADIAN BANK
OF COMMERCE
HEAD OFFICE, TORONTO
PAID-UP CAPITAL
$10,000,000
SURPLUS
7,000,000
NEW YORK OFFICE:
Nos.
16
AND
Mackay & Co.,
Edward Sweet & Co.
BANKERS
18
EXCHANGE PLACE
Wm. Gray and C. D. Mackintosh, Agents
Buy and Sell Sterling and Continental Ex¬
change and Cable Transfers, Commercial and
Traveler’s Credits. Collections made at all points.
Banking and Exchange business of every de¬
scription transacted with Canada.
Members N. Y. Stock Exchange
Bankers & Brokers
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
34 PINE STREET
LONDON OFFICE—2 Lombard Street, E.C.
BANKERS IN GREAT BRITAIN.
The Bank of England,
The Bank of Scotland,
Loyd’s Bank, Limited,
Union of London and Smiths Bank, Limited.
Members of the New York
Stock Exchange. Dealers in
NEW YORK
National
City Bank Building
55 Wall Street
ESTABLISHED 1804
NEW YORK
The Bank of
British North America
Established In 18S6
Incorporated by Royal Charter In 1840
Paid-up Capital
ESTABROOK & CO.
£1,000.000 Sterling
£580.000 Sterling
Reserve Fund
Head Office:
6 Graoechurch Street, London, E.O.
New York Office: 58 Wall Street.
H. M. J. McMICH A EL.l Agents.
W. T. OLIVER,
J
Buy and sell Sterling and Continental Exchange
and Cable Transfers.
Grant Commercial and
Travelers' Credits, available In any part of the
world.
Issue Drafts on and make Collections
in all parts of the United States and Canada.
BANKERS
Electric
Members New York and Boston
Stock Exchanges
WE OFFER
15 State Street,
24 Broad Street,
BOSTON
NEW YORK
-
BALTIMORE
CHAS. MEREDITH.
Bankers
Proven
CHICAQO
Co., Limited
Boat Broken and Financial Agents
Light, Power and Street
Railway Enterprises with reoorda
of established
earnings
INVESTMENT SECURITIES
HABTFOKD
C. Meredith &
WE FINANCE
Correspondence Solicited
ELECTRIC BOND & SHARE CR.
R. L. DAY & CO.
(Paid-Up Capital and Surplus, S4.900.tM
71 BROADWAY
J. J. REED,
President.
Vice-President.
A. H. B. MACKENZIE. Manager.
HON. LIONEL G. GUEST, Sec’y-Treasurer.
DIRECTORS
ALFRED BAUMGARTEN, C. R. HOSMBR
Capt. D. C. NEWTON (Montreal)
H. ROBERTSON
C. B. GORDON
MONTREAL
and Investment Dealers
Pubiio Utility Securities
37 Wall St.
35 Congress St.
NEW YORK
BOSTON
BIBB-(BABE INVESTMENT BBNBS
Munlolpal and Railroad
Members New York and
Boston Stock Exchanges
WILLIAM P. BONBRIGHT & COMPANY
BANKERS
Members of the New York Stock Exchange
Colorado
Springs
COLORADO
Canadian
Investment Securities
NEW YORK
34 Broad Strati
NEW YORK
London
BNQLAND
Electric Power Securities
Tucker, Anthony & Co.
BANKERS ft BROKERS
CORRESPONDENCE SOLICITED
DOMINION SECURITIES
CORPORATION, LIMITED
Toronto
Montreal
SB STATE ST;
BOSTON
94 BROAD 99;
NEW YORK
NEW BEDFORD
NORWICH
SIMON BORG & CO.,
Members Boston and New York Stock
BANKERS
Exchanges.
London, Eng.
Members of Now York Slock Excham
No.
20
Nassau Street
-
New
Tork
HUNT & CUSHMAN
THE
Investment Saourltlaa
INVESTMENT TRUST CO.
LIMITED
Trustees-Transfer
Agents
BOND DEPARTMENT
Canadian
BERTRON, 6RISC0M & JENKS
CANADA
Land Title Building,
PHILADELPHIA.
40 Wall Street,
NEW YORK.
INVESTMENT SECURITIES
HANSON BROS.
Dealers In
Canadian Investment Securities
9m4 Ur omr drearier ***** d«a<l*
St. Jaoaes Street
INVESTMENT SECURITRES
St, BOSTON
Alfred Mestre&Co
BANKERS
BANKERS
Corporation Bonds
MOTTRBAL
35 Congrsss
HRGH-GRADE
MONTREAL
H. AMY & CO.
BANKERS
44 and 46 Wail
Street, New York
INVESTMENT SECURITIES
Mis of Exchange.
Letters of Credit.
Members of the New York
Stock Exchange.
Dealers
in
Municipal, Railroad and
Equipment Bonds.
Interest alio red on deposits
Subject to Draft.
37 WaU St.
NSW YORK
,
130 S. 15th St.
PHILADELPHIA
▼1
THE CHRONICLE
[VOL.
LXXXXI
Hattfeetts atttf Hiarlwet outside item Ifoefe..
PITTSBURGH.
LOUISVILLE.
We Buy and Sell
PORTLAND, ORE.
INVESTMENT BONDS
J. J. B. HILLIARD & SON
(NO STOCKS)
LOUISVILLE. KY.
J. S. &. W. S. KUHN
BANKERS AND BROKERS
Incorporated
INVESTMENT BONDS
STREET RAILWAY SECURITIES
of
Pittsburgh, Pa.
James S. Kuhn.
L. L. M’Clelland.
President.
Seo. & Treas.
PAID-UP CAPITAL. $600,000
Donner, Childs & Woods
A
Correa pondenta:
S. FRAZER
Local Stocks and Bonds
INVESTMENT SECURITIES
Bankers and Broken
8TOOKS
on
AUGUSTA.
Southern
WILLIAM
E.
Philadelphia. Pa.
Municipal and Corporation Bonds
TO YIELD
PHILADELPHIA
Legal Bonds
BONDS
...
MONTGOMERY.
B. W.
Strassburger
Established 1892.
MONTGOMERY, ALA.
BROKERS
NORFOLK, VA.
COLSTON, BOYCE & CO
Members Baltimore Stock Exchange
Otto Marx & Co.
INVESTMENT BONDS
BROKERS
SOUTHERN SECURITIES
BIRMINGHAM. ALABAMA.
POE &
STOCKS AND BONDS
DAVIES
Members
MEYER & GOLDMAN
Baltimore Stock Exchange
STOCKS AND BONDS
Seaboard and Coast Line Issues
Local and Southern Securities
OFFICES
ALABAMA
~
PROVIDENCE.
MEMPHIS.
JNO. L. NORTON
Local Stocks and Bonds.
H. W, Heilman Bldg
Los Angeles.
86 Madison Avenui,
TENN
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
Richardson & Clark
25
Exchange Street, Providence, R. I.
Bonds, Stocks and Local Securities.
Private wires to Boston, Philadelphia
and New York
ANGELES STOCK EXCHANGE
LOS ANGELES.
DENVER. COL
BALTIMORE
BIRMINGHAM, ALA.
MEMPHIS.
Merchants’ Exch. Bldg,
San Francisco.
$300,000
SOUTHERN INVESTMENT SECURITIES
BIRMINGHAM, \
MONTGOMERY,i
PASADENA
BARROLL & CO.
MOTTU & CO.
AND
4H% TO 6%
LOS ANGELES
ATLANTA. GA.
NORFOLK. VA.
BANKERS
SAN FRANCISCO
ATLANTA, GEORGIA
Capital and Surplus,
BONDS
Specialty
CALIFORNIA
HILLYER TRUST CO.
CO.
a
WILLIAM R. STAATS CO.
THE ROBINSON • HUMPHREY CO.
Specialists lit
INACTIVE SECTJRITIES
Issues
Established 1887
YIELDING 4\i% TO 5\i%
MEMBERS! NEW YORK
CORPORATION
BUSH
SOUTHERN
MUNICIPAL BONDS
Philadelphia.
PUBLIC
Correspondence Invited
ATLANTA.
Chestnut and Third Sts..
AND
AND
LOS ANGELES
AUGUSTA, GA.
j. w. sparks &. co.
BANKERS
James H. Adams & Co.
BONDS
and Stocks
Investments receive our speeial attention. In¬
formation oheerfully furnished regarding present
holdings or proposed investments.
Building,
Securities
Offerings of Southern Bonds
STOCK AND BOND BROKERS
28 South Third Street,
PHILADELPHIA
Morris
LOS ANGELES.
California
HUNTOON
SAN FRANCISCO
Member The Stock and Bond Exchange
WANTED
Wm. G. Hopper & Co.
E. B. JONES
Invite Requests for Information
MUNICIPAL
W. Q. HOPPER,
H. S. HOPPER.
Members of Philadelphia Stock Exchange.
-
PACIFIC COAST SECURITIES
AUGUSTA. GA
PHILADELPHIA.
411 Chestnut St..
Wakefield, Garthwaite & Co.
BROKER
PITTSBURGH
f PHILADELPIA STOCK EXCHANGE
STOCK EXCHANGE
l CHICAGO BOARD OF TRADE
LOS ANGELES
Branch. Coronado Hotel. Coronado Beach.
Correspondents.
Harris. Win thro p & Co.. New York & Chlcage
1st Nat. Bank Bldg..
JOHN W. DICKEY
Members Pittsburgh Stock Exchange.
MUNICIPAL AND CORPORATION BONDS
PITTSBURGH SECURITIES
A
SAN FRANCISCO
We
HOLMES, WARDROP &. CO.
REED
BONDS
TENN.
PITTSBURGH. PA.
Building,
AND
NASHVILLE.
Members Pittsburgh Stock Exchange
Union Bank
[Stock and Bond Exchange. S. F.
Private Wire to Chicago and New York.
THOS. PLATER & CO.
NEW TORE
Singer Bldg.
& MeCONNEL
Commonwealth Bldg.
fNew York Stock Exchange.
MEMBER!Chicago Board of Trade.
HENRY
INVESTMENT SECURITIES
BALLARD
J. C. WILSON
NASHVILLE.
Taylor & Company
Quotations and Information Furnished
PITTSBURGH SECURITIES
SAN FRANCISCO.
LOUISVILLE, KY
PITTSBURGH, PA.
and
BONDS
PACIFIC COAST SECURITIES A SPECIALTY
INVESTMENT SECURITIES
Union Bank Building.
PITTSBURGH
Municipal and Corporation
STOCKS AND BONDS
SECURITIES.
258 Fourth Aye.
PHILADELPHIA
NEW YORK.
B’way. N. Y.
John W. & D. S. Green
iMembers New York and Pittsburgh Stock
Exchanges and Chicago Board of Trade
H* P.
PORTLAND
Specialty
WALKER BROS.. 71
Successors to CHILDS & CHILDS
INVESTMENT
MORRIS BROTHERS
Boettcher, Porter & Company
Denver, Colorado
Denver City Tramway 6s
Denver Union Water Co. bds. & stks.
Denver Gas & Electric Co. 6s
Great Western Sugar Co. stock
Colorado Telephone Co. stock
Cities Service Co. stock
Denver District Improvement bds. 6%
Colorado Irrigation District bonds 6%
CALVIN BULLOCK
INVESTMENT BONDS
COLORADO SECURITIES
PORTLAND, MAINE
Evtabllshed 1854
H. M.
PAYS0N & CO.
Investment Securities
PORTLAND .... MAINE
Ohaa. H. Pay non Geo. S. Pavson Herbert Payson
Dec. 17
THE CHRONICLE
1910.]
Mvcnlutxs atxjft
rn
%xokzx& outside gew ^orK.
ST
CHICAGO.
CLEVELAND
LOUIS.
FRED. S. BORTON
T. E. BORTON
R. C. ENWRIGHT
QREENEBAUM SONS
$100,000
BANKERS
National Enameling & Stamping Co.
Corner Clark and Randolph Streets. Chicago.
High-Grade Investment Securities.
Chicago First Mortgages and Bonds tor sale.
issue Letters of Credit for travelers, available In
all parts of the World.
LISTED AND UNLISTED
STOCKS AND BONDS
Due June 1, 1929.
Interest payable June and December.
This
Issue
mortgage on
BORTON
&
INVESTMENT SECURITIES
Refunding First Mtge Real Estate 5s
OF CLEVELAND AND NORTHERN OHIO
of
$3,500,000 00 bonds Is a first
property and plants valued In excess
Send /or our latest lists of Securities.
of $8,000,000 00.
The net earnings of the Company extending
over a period of nine years since Its
organization
have averaged $1,219,649 09 per annum, or
Sanford F. Harris & Co.
approximately Four times the Interest and
sinking fund requirements.
The mortgage provides that the liquid assets
of the Company shall at all times be of an amount
at least equal to the aggregate debts of the
Company, Including the outstanding bonds of
General Domestic and Foreign BanklngBuslness.
Correspondence Solicited.
BORTON
MEMBERS CLEVELAND STOCK EXCHAhGE
GUARDIAN BUILDING
Hayden, Miller & Co.
Investment Bonds
this Issue.
IB VESTMENT SECURITIES
application
Cltizem’ Building.
CHICAGO
Slaughter & Co.,
A. G. EDWARDS ASONS
INDIANAPOLIS.
One Wall Street
Joseph T, Elliott & Sons
Investment Securities
In St. Louis at 410 Olive Street.
Members Indianapolis Stock Exchange
BANKERS & BROKERS
189 MONROE STREET.
CHICAGO,
Members:
New
New
New
New
American Nat. Bank Bldg..
ILL.
York
York
York
York
Stock Exchange.
Cotton Exchange.
Coffee Exchange,
Produce Exchange.
Chicago Stock Exchange.
Chicago Board of Trade,
St. Louis Merchants’ Exchange.
Allerton, Greene & King
THE ROOKERY. CHICAOO
WHITAKER & CO.
CORPORATION BONDS
m
(INCORPORATED.)
COMMERCIAL PAPER
S. W. Cor. Monroe & La Salle Sts., Chico.
KANSAS CITY, MO.
H.
Municipal Bonds
net
Grcular
on
PETER J.
CALLAN
INVESTMENT BANKER
application
•
INDIANAPOL IS
ALBANY, N.Y.
43-2% to 5%
300 N. FOURTH ST.
Local, Listed and Unlisted
STOCKS AND BOND8
ST. LOUIS
McCRUlM
William R. Compton C
Mehta .-Laclede Bldg.
8T. LOUIS
REAL ESTATE
o
205 LaSalle St.
J. G. WHITE & CO.
OHIOAGO
Engineers, Contractors
MUNICIPAL
and other
HIGH-CLASS BONDS
INVESTMENT 00.
DEALT IN
KANSAS CITY. MO
Kansas
Fletcher Bank Bldg..
Application
A. G. Becker & Co.,
W.
I WILL BUY AND SELL
INDIANA TRACTION SECURITIES
Missouri & Illinois
To
INDIANAPOLIS
NEWTON TODD
High Grade
RAILROAD, MUNICIPAL AND
LM
CLEVELAND. OHIO
ROOKERY
THE
A. O.
Price and particulars on
City Ry. <fe Light Issues.
43-49
Reports on Electric
Railway Gas. Electric Light and Power
Properties. Irrigation Systems. Ac., lot
Financial Institutions and Investors.
Electric
Railways, Electric Light and Powor
Plants, Gas Plants, Financed,
Designed and Built.
Western Municipals.
London Correspondents:
CINCINNATI.
SAINT PAUL
Twin City Rapid Transit 5s. 1928
Minnesota Transfer Ry. 5s. 1916
St. Paul Gas Light Co. 5s, 1944
City of St. Paul 4 Hs
Twin City Telephone Co. 1st 5s
Correspondence Invited
C. G. YOUNG
Dealers in
High-Grade Bonds
Engineering and Construction
for Investment
all Northwestern Securities
Edwin White & Co.
CHICAGO
Plans,
CINCINNATI
Stmte Savings Bank Bldg., St. Paul
EDGAR
MINNEAPOLIS.
J. G. WHITE A CO* Limits*,
9 Cloak Lane. Cannon St., B. C.
WEIL, ROTH & CO,
on
FRIEDLANDER
Methods,
Reports for Financing
SIXTY
WALL ST..
NEW YOBK
Mem. Am. Sac. C. I.
Cincinnati Securities
CINCINNATI.
MINNEAPOLIS. MINN.
Operation
Public Utilities and Industrial*
DEALER IN
WELLS & DICKEY CO
San Francisco, ON,
Investigations and
CIRCULARS AND LIST ON APPLICATION
Local Securities.
Exchange Place, NEW YORK
Chicago, Ills.
OHIO
H. U. WALLACE
MUNICIPAL A CORPORATION BONDS
ENGINEER
Twin City Rapid Transit System Bonds
Minneapolis National Bank Stocks
PROVIDENCE.
BUFFALO.
ALBERT P. MILLER Jr.
JOHN T. STEELE
INDUSTRIAL TRUST CO. BUILDINQ
Examinations, Reports. Surveys, Supervision af
construction and operation of Electric and Steam
Railroads, Power Plants, Transmission fines;
Central Stations and Irrigation projects, Ao.
Kx-Supt. Illinois Central RR.; Chief Eaglneev
Illinois Central RR.; and Gen’l Manager Chicago
Lake Shore & South Bend Electric Railway.
Marquette Bldg.
CHICAQO ILL.
BUFFALO, N, Y.
Government, Municipal
and Corporation Bonds
PROVIDENCE, R. I.
Local Securities
Gas, Electric Lighting & Railway
Bonds and Stocks
Established 1889
A. L. REGISTER &, CO.
ENGINEERS—CONTRACTORS
SPECIALISTS IN
Philadelphia]
Buffalo and Western New York Securities
^■n——■———————————————^
ROCHESTER, N. Y.
50% Stock Bonus
Write fnr particulars
A.
104-105 Wilder Bldg.
Exchange
ROCHESTER.
CO.
ipuutng Httgitwevs.
PROVIDENCE
H.
M. CHANCE
Consulting Mining Engineer and Otologist
BURGESS
Member Rochester Stock
&
806 TO 809 BANIQAN BUILDINQ
High Class 6% Bonds
JOHN
BODELL
N. Y.
Bonds and
Preferred Stocks
of Proven Value.
GOAL AND MINERAL PROPERTIES
Examined, Developed, Managed
537|Drexel Bldg..HE9MPHILADELPHIA, PA
[VOL. LXXXXI
THE CHRONICLE
Tin
gtattkevs and Utofejeics
ERVIN & COMPANY
A. B. Leach & Co.,
NATIONAL BANK
OF CUBA
BANKERS
BANKERS
«
K
(New York Stock Exchange
(Philadelphia Stock Exchange
149 Broadway, NEW YORK
FOR
BONDS
149 Dearborn Street, CHICAGO
Drexel
Capital. Surplus and
Undivided Profits
Assets
.....
INVESTMENT Cash in Vaults
PARKINSON & BURR
C L HUDSON & CO.
Bob. 34-36 WALL ST., NEW YORK.
7 Wall Street
53 State Street
NEW YORE
BOSTON
Members New York and Chicago Stock Exchanges
73 Pearl Street
TELEPHONE 3070 JOHN.
HARTFORD
Miscellaneous Securities
in all Markets
E. W. CLARK & CO.
t.
Established 1865
George P. Schmidt
J. Prentice Kellogg
William A. Lamed
Chas. H. Blair Jr.
Frederic Gallatin Jr.
Albert R. Gallatin
Members N. Y. Stock
111
P. W. BROOKS & CO.
LADD
Cable: “Orlentment.”
Chas H. Jones A Co.
Municipal, Railroad and Corporation Bonds
We maintain an OUTSIDE SECURITIES DE¬
PARTMENT which deals particularly in the
Dividend-Paying Stocks of Railroad Supply
Boston
70 State St.
Companies.
If interested write'for
W. S. Tarbell.
our
quotation
sheet “C”
Brokers and Dealers In
HENDERSON & COMPANY
INVESTMENT SECURITIES
24 NASSAU STREET
11 WALL
ST., N. Y.
Transact
Edwin P. Campbell
James G. MacLean
a
Campbell & Co.
STOCK
Hanover Bank
11 PINE
STREET,
BROADWAY, N. Y.
Simpson, Pearce & Co.
NEW YORK
No. 10 WALL STREET.
N. Y. and Phila. Stock Exchanges.
Orders for Stocks and Bonds executed upon all
Exchanges In this country and Europe.
Especial attention given to supplying high-class
Telephones
4490-1-2-3-4 Rector
Members
V. Y. Stock Xx.
W. H.
Investment
Bonds.
Goadby & Co.
Bankers and Brokers
NO. 74 BROADWAY,
3* Wall Street. New Yoric
Members of New York Stock
NEW YORK
Cash orders
Markets.
Certified Public Accountants
(Pennsylvania)
CERTIFIED PUBLIC ACCOUNTANTS
City.
Exchange.
New York,
Chicago, Cincinnati and
London, England.
BONDS
Colgate & Co.
36 Wall Street. New York.
all
JAMES PARK & CO.
VICKERS A PHELPS
191cT
in
NEW YORK,
Exchange
INVESTMENT SECURITIES.
Deposits Subject to Checks
Executed
165 Broadway
PHILADELPHIA,
Land Title Bldg.
111 BROADWAY PITTSBURGH,
Union Bank Bldg.
NEW YORK
CHICAGO, First National Bank Bldg.
Members New York Stock
Members
Jas. B.
Orders
ROSS BROS A
MONTGOMERY
EXCHANGE
1852
III BROADWAY, NEW YORK
LY BRAND,
INVESTMENT SECURITIES
BANKERS AND BROKERS.
on
Members N. Y. Stock Exchange
Jkxcimttfcrols.
Members N. Y. Stock Exchance
JOHN H. DAVIS &, CO.
Interest Allowed
Effingham Lawrence & Co*
DEALERS IN
Building
-
facility consistent with good banking.
WALKER BROS.
Commission
William Herbert & Co.
Y.
Accounts of Banks, Firms, Corporations and Individuals
solicited.
We are prepared to furnish depositors
Bonds and Guaranteed Stocks
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
71
N.
W. M. Ladd, President. R. S. Howard Jr., Asst. Cash.
E. Cooklngham, V. Pres. J. W. Ladd, Asst. Cashier.
W. H. Dunckley, Cash.
Walter M. Cook, Asst. Cash.
Interest paid on Time Deposits and Savings Accounts.
General Banking and Stock
Exchange Business.
11 WALL STREET. NEW YORK
Members New York Stock Exchange.
on
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
BANKERS
MEMBERS N. Y. STOCK EXCHANGE
Henry G. Campbell
OREGON
Established 1859
every
McCURDY,
MEMBERS NEW YORK STOCK EXCHANGE
-
BANK
OFFICERS
20 Broad Street, New York
J. S. FARLEE & CO.
MEMBERS
&, TILTON
PORTLAND
Interest allowed on deposits
Send for circulars
Bought & Sold
Capital, $1,000,000
Exchange
Broadway
Telephone: 3155 Rector
PURCHASE AND OFFER ONLY
RONDS OF THE HIGHEST GRADE
Securities
John E. Gardln 1
Alvin W. Krech )New York Committee
James H. Post J
Acts as Cuban correspondent of American
banks and transacts a general banking business.
NEW YORK CITY
BANKERS
H. G.
CARLOS DE ZALDO, President
JOSE I. DE LA CAMARA. Vice-President
SCHMIDT & GALLATIN
RAILROAD BONDS
GUARANTEED STOCKS
HARTFORD, CONN.
HAVANA
OF
76 CUBA STREET
Interest allowed on deposits.
New York Correspondents /Clark, Dodge & Co.
1 First National Bank.
MEMBERS OP N. Y. STOCK EXCHANGE.
Allow Interest on deposits subject to sight check.
Buy and sell on commission stocks and bonds, and
deal In
H. L. Finch.
Specialty.
Sole Depositary for the Funds of the Republic of
Cuba
Member American Bankers’ Association
BANK
Mepibers Phlla. and New York Stock Exchanges.
BANKERS
Maine
a
PHILADELPHIA
A. M. KIDDER & CO.
J. S. Farlee.
Collections
Cable Address—Banconac
321 Chestnut St,
STREET, NEW YORK.
MATANZAS,
SANTIAGO.
CAIBARIEN,
SAGUA LA GRANDE
SANTA CLARA,
CAMAGUEY,
PINAR DEL RIO,
SANCTI SPIRITUS.
CAMAJUANI,
CRUCES,
CIEGO DE AVILA.
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
CARDENAS.
CIENFUEGOS,
MANZANILLO,
GUANTANAMO.
BANKERS,
PRINCIPAL CITIES.
Augusta
32,900,684 60
8,681,37919
Branches
Members of the New York and
Boston Stock Exchanges
New York City
115 Broadway
-
PRODUCE EXCHANGE. HAVANA.
Chestnut & 4th St., PHILADELPHIA
5 NASSAU
-
84 GALIANO ST., HAVANA.
226 MONTE ST., HAVANA.
26 State Street, BOSTON
WIRES TO
-
HEAD OFFICE—HAVANA
Building, Philadelphia.
Long Distance Telephone No. L. D. 107.
PRIVATE
1
)$6,256,922 21
-
only in stocks accepted
FOR
FINANCIAL
INSTITU¬
TIONS, INDUSTRIAL AND
AUDITORS
1
MINING COMPANIES
E. & C. RANDOLPH
Members
Ill
New
York
Stock
Investigations, Financial Statements,
Periodical Audits and Accounting.
Exchange.
Broadway, New York.
Open Market Securities Department
*
HORACE HATCH. Manager.
Dealers In Investment and Other Securities of the
United States and Canada
R. T. Wilson & Co.
33 WALL STREET
NEW YORK
Dec. 17
IX
THE CHRONICLE
1910.]
QnquivUs.
©ttKrcnt Ipotxtf
fgittattjcial.
WANTED
Stone & Webster
Cumberland
Telephone &
Telegraph Co. Stock
147 Milk Street.
BOSTON
BOUGHT AND SOLD
First Natl. Bank Bids.
CHICAGO
5 Nassau Street
NEW YORK
We offer for Investment
GOULDING MARR
Securities of
Public Service
our
NASHVILLE,
-
=
TENN.
organization
BONDS
Boston
27 State Street
CORPORATION
FOR SALE.
Draper Mfg. Com.
Our Manual
describing these companies will be sent
Selected for Conservative Investors.
Lists Mailed
request.
upon
Specialists in Inactive Bonds.
RAILROAD
5% to elA%
Bodwell Water Power Co. 5s
Council Bluffs Wat.-Wks. Co. 6s
Greater N. Y. Development 5s
H. C. Spiller & Co.
MUNICIPAL
yield
to
Susq. Bloomsburg & Berwick 5s
New Hamp. Elec. Ry. Pref. & Com
Broker
Corporations
under the management
of
Helena Water-Works Co. 4s
Chic. Sub. Water & Light Co. 5s
York Haven Water Power Co. 5s
Peoria Water-Works Co. 4s
London & Chic. Contract Stock
Omaha Water Co. 5s & Stock
United Rys. of St. Louis 4s
Union El. Lt. & P. Co. of St. L. 1st 5s
Union El. Lt. ft P. Co. of St. L. Ref. 5s
Upon Application.
Lawrence Barnum & Co.
BANKERS
27-29 PINE STREET,
Philadelphia
”
NEW YORK
Pittsburgh
Washington
Laclede Gas Co. of St. Louis 1st 5s
U. 5. Worsted Pfd.
Niles-Bement-Pond Com.
American Investment Sec's Com.
Pere Marquette 1st Pfd.
Butte Water Co. 5s, 1921
Indiana Columbus &. East. 5s. 1926
Hudson River Elect. 5s, 1931
WANTED.
American Caramel Pfd.
Pere Marquette Com.
N. E. Investment Sec’s Pfd.
Waltham Watch Pfd.
Lynn Gas & Electric Co.
Atlanta Northern 5s, 1954
Laclede Gas Co. of St. Louis Ref. 5s
Page Woven Wire Fence 5s, 1922
Newport & Fall River 5s, 1954
Kan. C.
HOTCHKIN
Ry. ft Lt. 5s ft Underly. Sec’s
T. W. STEPHENS & 00
FRANCIS, BRO. & CO.
(ESTABLISHED 1877)
Stock Exchange Bldg., Boston
Telephone Main 3448
BANKERS
2 WALL
Dayton Lighting Co. 5s, 1937
Canton (Ohio) Electric 5s, 1937
Lime Rock Railroad 4s, 1929
Lansing Fuel ft Gas 5s, 1921
Dallas Electric Corp. 5s, 1921
Seattle Lighting 6s, 1930
STREET, NSW TORE.
214 North 4th Street, ST. LOUIS
INVESTMENT
Bank and Trust
Interest allowed on accounts of
BOUGHT AND SOLD
Individuals and
GILBERT
2 WALL ST.
BONDS
Company Stocks
NEW YORK AND BROOKLYN
CLINTON
Corporations
H. L. NASON A CO.
Shawmut Bank Building,
NEW YORK
55
Nederlandsch Administrate & Trustkantoor
(NETHERLANDS ADMINISTRATION A TRUST COMPANY )
215 Slngel - AMSTERDAM. (Holland.)
H. NEIMkSZ, President
Board of Directors!
H. WALTER. L. D..
Chairman,
de Kook A Uyt den Bogaard.
A. A. H. BOISSEVAIN,
Ph. MEES.
Director of Swim Bankvereln
R. Meea A Zoonen.
of Labouohere.Oyena A Go's Bank.
J. a-duynstjee.
H. MEINESZ.
Teldera A Go.
President.
F. Th. EVERARD.
G. H. DE MAREZ OYENS.
Labonehere, Oyens A Go’s Bank.
A. L. G. H. PICHOT*
Banker.
P. M. J. GILISSEN
Arnold Gtllssen.
AUG. KALFF.
Westerwoudt A Go.
W. M. SCH EUR LEER.
^
Jan Kalfl A Go.
Acts
Acts
Congress St.,
BOSTON, MASS.
Austin (Texas) 4s-5s
Omaha Water 5s & Stocks
'—
-
Development Co. of Am. 6s
Guanajuato Reduc.&Mines 6s ft Stk.
Regal Shc4> Pfd.
W. J_. Douglas Shoe Pfd.
New Hamp. Elec. Rys. Com. ft Pfd.
F. W. MASON & CO.
WANTED
Chicago Suburban Water A Light Co. 5s
Butte Water Co. 5s, 1921
National Fuel Gas Co Stock
Duluth Street Ry. Co. Gen. 5s, 1930
FOR SALE
U S. Envelope Co., common.
C. H. FARNHAM
27 STATE STREET, BOSTON
Sohenrleer A Zoonen
Executor,
as
as
A CO.
SPECIALISTS IN INACTIVE SECURITIES
DEALT IN BY
Trustee of
Administrator, Trustee,
Guardian, Agent, et*
Corporation Mortgages.
WEBB & CO.
INVESTMENT SECURITIES
NEW YORK
74 BROADWAY
The
Trust
Company of America
37-43 WALL STREET, NEW YORK.
LONDON OFFICEi
COLONIAL BRANCHi
222
Broadway, New York.
95 Gresham St.
CAPITAL AND SURPLUS 18.000,
Invites account! of individuals firms and
corporations.
Pays interest on daily balances.
Executes trusts et every description.
Union Railway, Gas ft
Portland Railway, Light
Electric
ft Power
Memphis Street Railway
ALL LOUISVILLE LOCAL SECURITIES
S. C. HENNING & CO.
116 So. 5th St..
LOUISVILLE. KY.
71 Broadway
NEW YORK CITY
Commonwealth Pr Ry A
Lt
And Constituent Companies’
Stocks and Bonds
WM. HUGHES CLARKE
Detroit, Michigan.
X
THE CHRONICLE
(tinxxtut gfxntfl
[Yol.
lxxxxi.
gravities
Mobile & Ohio, St. Louis & Cairo Coll. 4s, 1930
Cincinnati Hamilton & Dayton Gen. 5s, 1942
Toledo Terminal Railroad 4J^s, 1957
Wabash, Des Moines Division 4s, 1939
Atchison & Eastern Bridge 4s, 1928
Cleveland Lorain & Wheeling 5s
Providence Securities 4s, 1957
Pere Marquette Cons. 4s, 1951
Rio Grande Junction 5s, 1939
Ill. Gent., St. Louis Div. 33^s
Nashv. Flor. ft Sheff. 6s
Evansv. ft
Indianapolis 6s
Ghic. & Alton S. F. 6s
Sloss Iron ft Steel 6s ft
43^s
Kings County Gas ft Ill. 6s
N. Y. ft Queens Elec. Lt. ft P. 6s
G. W. Walker & Co
Augusta Terminal Co. 6s, 1947
Teh 100 Broad.
Great Northern of Canada 4s
O’Gara Coal Co. 5s, 1955
AND ALL OTHER STEAM RAILROAD SECURITIES DEALT
25 Broad StNew York
Atchison “Transcontinental Short Line"
IN
1st
Mtge. 4s, due July, 1958
Indianapolis
Gleve. Columbus Cin. ft
F.
1st
J. LISMAN & COMPANY,
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
30
BROAD
STREET,
Land Title ft Trust Oo.
39 Pearl
NEW
1st
BANKERS
44 PINE STREET. NEW YORK
Member* New York Stock Exchange.
Street, HARTFORD
Members New York Stock Exchange.
20 BROAD ST.
NEW YORK
55 Cedar Street
NEW YORK
White ft Black River Valley Guar. 6s.
N. Y. Phila. ft Norfolk First 4s.
Columbus & Hocking Valley First 4s.
Choctaw Okla. ft Gulf First 6s.
Cin. Richmond & Ft .Wayne
7s
Saratoga 7s
Wilkes-Barre ft Wyo. Val. Tract. 6s.
United Traction Co. of Pitts. 6s.
Pitcairn ft Wilmerding Guar. 6s.
Central Branch 4s, 1919
W. Offer
American Piano Common
American Piano Preferred
U. S. Industrial Alcohol Common
U. S. Industrial Alcohol Preferred
BOUGHT AND SOLD
SHARES
SOUTHWESTERN
Of
GEORGIA
5% GUARANTEED STOCK
J. H.
400 Chestnut Street. Philadelphia.
Penna. ft Northwestern Genl. 6s.
New Haven 6s
Rensselaer &
300
Robt.Glendinning &Co.
LIBBEY & STRUTHERS
Cuban Government Internal 5s
L. M. PRINCE & CO.
HILSMAN
& CO.
9BMPIRE BUILDING. ATLANTA. QA.
WANTED
FREDERIC H. HATCH & CO.
Allegheny Valley 4s
New York
Beech Greek First 4s
4}4s, due April 1916
TO NET 4.20%
Gettysburg ft Harrisburg 6s
50 Oongreaa Street
Private telephone between New York and Boeten
Schuylkill River East Side
We buy and sell Bonds of Gas and
Electric Companies controlled by the
4s
MELLOR & PETRY
UNITED
Members
Ml. 8527-a BOOM
Philadelphia
ST Wall St.. N. Y.
We Want to Buy
■ New York & Jersey 5s
Somerset Coal 5s
t Atlanta Gas Light 5s
L* Montana Central 5s and 6s
[ Cuban Government Internal 5s
l* Kanawha & Hocking Coal & Coke 5s
N. Y. & Cuba Mail S.S. 6s
.
J. H. BECKER & CO.
Tel. 985 Reotor
104 S. Fifth Street
80
Princet. ft North West 1st 3>^s, 1926
Col. & Hocking Val. Ext. 4s, 1948
New Orl. Grt. North. 6s, 1966
Florida East Coast Ry. 1st
4j^s,1959
Hudson ft Manhattan Securities
Sutton,
StrotherStreets
& Co.,
Calvert
aad German
Broadway.
NEW YORK
BONDS
Baker, Ayling & Company
BOSTON
K Providence
155 Rector
WANTED
Toledo Fremont & Norwalk 5s. 1920
Indianapolis Trac. & Term. 5s, 1933
Union Traction of Indiana 6s. 1919
West End Trort Bldg., Phil*.; Pa.
Philadelphia Stock Bxohaage
Telephones. / Bell-Spruce 21-31.
I Keystone-Race 305
Chesapeake ft Ohio 5s, 1929
Elmira Oort, ft Nor. 1st 5s, 1914
Peoria ft Pekin 2nd 43^s, 1921
Rochester ft Pittsb. 6s, 1922
BLAKE & REEVES
Tel. 1504 John
34 Pine Street. New York
•
Philadelphia Stock Exchange.
WESTERN ELEC. 1st 5s
Pingree, McKinney & Co.
8
Congress Street,
We desire
Boston,
offerings of free of
bonds
in
the
State
of
Pennsylvania
CURTIS & SANGER
NEW YORK
June 1920.
tax
Dec. 31, 1922, W. I.
Members N.Y.; Boston A Chicago Stock
19 Wall Street
National Electric Lamp Co. Collateral Trust 6s.
Series “B,” July 1935.
Buffalo & Susquehanna Iron Company First 5s.
Lima Findlay & Toledo First 5s. July 1925.
Pere Marquette Equipment 4Hs, October 1913.
SAM U ELK. PHILLIPS
CO.
421 Chestnut St.
Philadelphia
Members of
Boston
comprehensive circular letter in
Telephone:
BALTIMORE
Member* el Baltimore Stock Bxehaag*
very
Member* of the
New York State Railways, common
Mohawk Valley Co.
Stocks and Scrip.
60
CO.
REED A. MORGAN & CO..
27 William St., N. Y.
MALCOLM STUART
IMPROVEMENT
regard to U. G. I. Stock.
Broadway. New York
WANTED
Grand Rapids Ry. Co. 1st M. 6% Bonds, doe 191C
OFFER
St. Joseph Railway. Light. Heat & Power Co.
1st Mortgage 5% Bonds. 1937.
Philadelphia
a
WOLFF & STANLEY
Tel. 6557 Broad
GAS
List of quotations upon request; also
New York and^Phlladelphla Stock Exchange
FERRIS * WHITE,
Boston
80 Broad Street
Pine Creek First 6s
$100,000 dlTY OF YONKERS
5s, due Dec., 1946
SUTRO BROS. & CO.
YORK
Building, PHILADELPHIA
Michigan Central Debenture 4s, 1929
Chicago Burl. & Quincy Gen. 4s, 1958
Colo. & South. 1st g. 4s and Ext. 4%s
Chicago Rock Isl. & Pac. Ref. 4s, 1934
Hocking Vail. Ry. 1st Cons. 4J^s,1999
7s, due June ,1914
L. ft N., Atlanta Knoxville ft Northern
Exchanges
WURTS, DULLES & OO.
Chlcaso
1M 8. FOURTH ST..
PHILADELPHIA
.jj
Telephone Lombard 1080-1081
Dec. 17
THE CHRONICLE
1910.]
XI
©ttKKtttt JSimd SttqttiKteS.
19th Ward Bank Stock
Hudson Companies Preferred Stock
Automatic Electric Co. Stock
Amer. Qas & Elect. Co. Preferred Stock
Great Western Sugar Co. Common & Pref.
INVESTMENTS
The methods employed by conservative Investors In choosing
thelr’lnvestments. Is based on
a close analytical
study of all the fundamental factors affecting the Investment, such as the
value of the property pledged, the ability of the Company to continue earnings,
the general
credit and standing of the Company, and the maturity, price,
yield and market of their
securities.
These are points upon which every prospective Investor should be Informed.
The ability to judge of the relative value of these several
points is only brought to perfection
through years of experience.
**
We are recommending to our clients a well-balanced Investment
containing
A
YIELDING 4.80%
A SHORT-TERM NOTE
“
4.90%
A RAILROAD EQUIPMENT BOND
“
4.80%
AN INDUSTRIAL BOND
"
6.00%
The average income on the above is over 5%. These bonds have been selected because
they meet our ideas of a conservative investment.
Send for our Circular No. I—7
Mexican Int. 1st 4s. 1977 (stamped)
Syracuse Gas Co. 1st 5s. 1946
Keokee Cons. Coke Co. 1st 5s, 1959
Ashland Water Co. 1st Ref. 6s. 1929
—-
Glide, Win mill &Co.
BANKERS v.y
20 BROAD STREET, N. T.
Telephone 445*6-7 Rector
Guaranty Trust Company
Tol. & Ohio Gent., West. Div. 5s, 1945
Oregon Short Line 4s, 5s and 6s
Washington Central 4s, 1948
Georgia Pacific 6s, 1922
Panhandle 4s, Series D, F and G
Lake Shore Goll. Trust 3 J^s, 1998
Chicago & North West 4s, 1987
NEWBORG & CO.,
MEMBERS N. 7. STOCK EXCHANGE
60 BROADWAY. N. Y.
Telephone 4690 Rector.
Cable Address.
“NEWROSB"
PRIVATE WIRE TO ST. LOUIS
York Haven Water & Power 5s, 1951
Schwarzschild & Sulzberger 6s, 1916
Central Foundry 6s, 1916
Consolidated Indiana Coal 5s, 1935
Pennsylvania Coal & Coke 5s, 1953
O’Gara Coal & Coke 5s. 1955
Continental Coal Co. 5s, 1952
Havana Tobacco Co. 5s, 1922
General Motors Common
International Text-Book Stock
Electrical Securities Corporation Preferred Stk
We will furnish quotations on all Inactive or
listed securities.
We Specialize In Coal Company Bonds.
MEGARGEL
& CO.
of New York
28 Nassau Street, New York
Branch Offices
5th Ave. & 43d St., New York
33 Lombard St., London, E. 0
Danville Urbana & Champaign 1st 5s. 1923
Pitts. McKeesport & Connellsv. Cons. 5s, 1931
Cleveland Elyria & Western Cons. 5s, 1920
R. M. Stinson &. Co.
North American Bid...
PHILADELPHIA
Members Philadelphia Stock Exchange
’Phones Bell Walnut 22-90
Keystone Race 4-99
N.Y.& East Riv. Gas 1st 5s, 1944
N.Y.& East Riv. Gas Cons. 5s, 1945
N.Y.& Westchester Ltg. 4s, 2004
Metropolitan St. Ry. Gen. 5s, Tr. Ctfs.
Lex. Ave. & Pav. Ferry 1st 5s, 1997
Columbus & 9th Ave. 1st 5s, 1997
PATERSON & CO.,
Tel. 1985-6-7 Rector
DOUGLAS FENWICK & CO.
Superior & Duluth Div. 4s, 1936
Third Ave. 1st 5s, 1937
Edison El. Ill. Go.(Bklyn.)4s, 1939
N. Y. L. E. & West. 7s, 1920
Kansas City Southern 5s, 1950
Utica & Black River 4s, 1922
N. Y. Susq. & W. Ref. 5s, 1937
Denver & Rio Grande 4s, 1936
New Haven Deb. 33^s, Reg., 1954
3o$ep1)(Ua1l{er&$on$
i
Members NewYork Stock
20 Broad St.
Exchange,
New
York.
Private wire to Philadelphia.
Cof fin At Company
HEW TORE.
OFFER
Cincinnati Dayton & Ironton 5s
N. Y. Ontario & Western Ref. 4s
Kansas Gity Southern 5s
Investment Bonds
Tel. 6744 Hanover
Chicago & East Illinois 6s
Illinois Central, Cairo Bridge 4s
49 Wall Street
HOLDERS OF
PORCUPINE
West Chester Kennett & Wilmington 5s
The greatest gold camp in the world
Learn about it before the rush
Write us to-day for information
COMMUNICATE WITH
WARREN, GZ0WSKI & CO.
Members Toronto Stock
25 Broad Street,
Exchange
New York.
Equipment Bonds and Car Trusts
Swartwout &
Appenzellar
George B. Atlee & Co.
119 S. Fourth St.
44 Pino Street
Nevada-California Power Co. bonds and stock
Denver & N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas & Electric 5s
Northern Idaho A Montana Power Co.
DENVER, OOLO.
NEW YORK CITY
Lacombe Electric 5s, 1921
Milwaukee Gas 4s, 1927
Madison (Wis.) Gas & Elect. 6s, 1926
Canton Electric 5s
Omaha Water Co. Cons. 5s, 1946
Minn. & St. Paul St. Ry. 5s, 1928
LAMARCHE & COADY,
Tel. 5775-6 Broad.
Philadelphia
JAMES N. WRIGHT & CO
BANKERS
35 Broad St., N T.
FOR SALE
Consol. Tract. Go. of N. J. 1st 5s
June 1933
Passaic & Newark Elect. Traction
1st 5s, June, 1937
Hudson Oounty Gas Co. 1st 5s,
Nov., 1949
W. E. R. SMITH & C0.(
20 Broad Street
-
-
New York
Pere
Marquette Consol. & Refund. 4s
Birmingham Railway & Light 4J^s
Central Pacific, Through Short Line 4s
Atlanta Birin. & Atlantic 5% Receivers’ Ctfs.
T. C. & I., Birmingham & Tennessee 6s
St. Louis & San Francisco
4J^s, 1912
Seaboard, Atlanta & Birmingham 4s
Cincinnati Ham. & Dayton 43^s, 193V
Florida Southern 4s
Vera Cruz & Pacific 4s
Lehigh Valley General 4s
Railroad and Other
The highest authorities declare
Rio Grande Western Coll. 4s
Atl. Coast Line, L. & N. Goll. 4s
Central Indiana 4s
i
Charleston & Savannah 7s
Edward V. Kane & Co.
MORRIS BUILDING. PHILADELPHIA.
Telephones,Bell-Spruce3782. Keystone.Raoe 630.
Members N. Y, Stock Exchange
Northern Ohio 1st 5s, 1945
.
Mtge. 5s, due Dec. 1. 1933
Decatur Gas & Electric Co. Cons. Mtge. 5s,
Due Jan. 1, 1930
C. K. B. WADE
34 Pine Street
NEW YORK
NEW HAVEN, CT.
34 WALL ST
Tel. John 109
DecaturlRailway & Light Co. First & Cons.
GILMAN &, CLUCAS
OFFER
Princeton & Northwestern Registered 3Hs
Winona & St. Peter 7s
Danville^Urbana & Champaign Ry. Co.
First Mtge. 5s, due March 1, 1923
Due 1931
1st Nat. Bank Bldg..
Tel. 7700 1-2-3 Hanover
17 Wall Street
NEW YORK
-
20 Broad St.. N. Y
First Mtge. 4s,
EYER & COMPANY
WANT
Phenix National Bank Stock
New Orleans Mobile & Chic. Bonds and Scrip
New Jersey Municipals
Short-Time Railroads and Municipals
J. K. Rice, Jr. A Co.
’Phones 7460 to 7466 Hanover. 33 Wall St.. N.Y.
St. Louis Southern Railroad
NEW YORK
Chicago & Erie 5s. 1982
L. & N.. New Orl. & Mobile 1st 6s. 1930
Peoria & Pekin Union 2nd 4Hs
Des Moines & Ft. Dodge 4s, 1935
Westchester Lighting Co. 5s. 1935
Norfolk & Western Consol. 4s. 1996
Express Stock
Express Stock
United States Express Stock
Wells, Fargo & Co. Express Stock
American
WANTED
Kings Co. El. Lt. & Power 5s, 1937
BANKKES
5 Nassau Street
Adams
OFFERINGS WANTED
*
Buffalo &
Susquehanna 4s
WERNER BROS. & GOLDSCH7IIOT
T«L 4800-1-2-3-4-5 Braid.
25 Broad Street, N. V,
THE CHRONICLE
XU
[Vox#, umn
ffhrmmft*.
ffimmcial.
OFFICE OF
BABCOCK, RUSHTON & CO.
BANKERS
AND
McCOY&COMPANY
181 La Salle
NOTICE OF DIVIDEND
LISTED»ndUNLISTED BONDS
TIMES BY PRIVATE
WITH
WIRE
THE NEW YORK BOND MARKET THROUGH
OUR OWN NEW YORK OFFICE AND ARE PREPARED TO
FURNISH PROMPT AND EFFICIENT SERVICE IN THE
HANDLING OF ORDERS AND SUPPLYING QUOTATIONS.
WE ARE IN CLOSE TOUCH AT ALL
cent (3J/£%) upon the outstanding
7% cumulative Preferred shares of the
per
company, payable by check January 1
1911 to stockholders of record as at the
close of business December 24 1910.
JOSEPH H. ROY,
OUR COMPLETE STATISTICAL FILES ARE AT THE SERV¬
ICE OF THOSE DESIRING ACCURATE INFORMATION ON
BOND ISSUES OF RAILROAD, INDUSTRIAL AND PUBLIC
SERVICE CORPORATIONS.
New York Stock Exchange
f*£kd MT.
PUBLIC SECURITIES COMPANY
The Board of Directors of Public Se¬
curities Company has declared a semi¬
annual dividend of three and one-half
WE ARE ALSO PREPARED TO GIVE SPECIAL ATTENTION
TO THE HANDLING OF ORDERS IN ALL LOCAL BONDS
AND SHORT-TERM NOTES.
THE ROOKERY
CHICAGO
Street, Chicago
BROKERS
Secretary.
OFFICE OF
AMERICAN SMELTING & REFINING CO.
165 Broadway, N. Y. City, Dec. 7 ,1910.
QUARTERLY COM. STOCK DIVIDEND NO. 29
The Directors of the American Smelting &
Refining Company have this day declared a divi¬
dend of One per cent on the Common Capital
stock of the Company, payable January 16, 1911,
7 WALL STREET
NEW YORK
stockholders of record December 15, 1910.
The books of the Company for the transfer of
Common Stock will be closed at three o’clock
p. m. December 15, 1910, and will be re-opened
immediately after the final adjournment of a
to
special meeting of the stockholders of the Com¬
pany called to be held on January 5, 1911.
W. E. MERRISS, Secretary.
We
and offer to trustees
and executors of
own
ESTATES
several
entire
issues
of
tax-
AMERICAN POWER & LIGHT CO.
71 Broadway, New York
H. M. BYLLESBY & CO.
ENGINEERS
exempt bonds which comply
with all
the law
of trust
the
as
requirements of
to the investment
We
funds.
will
be
pleased to submit full details
application
upon
R. M. GRANT & CO.
BANKERS
31 NASSAU STREET
HASKINS
CERTIFIED
CCOUNTANTo
LONDON, E. C.
30 COLEMAN STREET
CHICAGO, Marquette Building
ST. LOUIS. Third National Bank Building
CLEVELAND, Williamson Building
PITTSBURGH, Farmers’ Bank Building
BALTIMORE, Equitable Building
ANNOUNCE
Opening of
an
Office
BALTIMORE
in the
EQUITABLE BUILDING
December I,
1910
Ohio Municipal Bonds
CLEVELAND 30-YEAR 4S
Yielding about 4%
Tax-free in Ohio
W. E. HUTTON &. CO.
Members New York Stock Exchange
Established 1886
26 Broad Street.
New York
Private wires to Cincinnati, Chicago. San
Francisco and Los Angeles.
Ilittltfetxjds.
LANSTON MONOTYPE MACHINE COMPANY.
Philadelphia, Pa.
The Board of Directors has this day declared a
took of this
Suarterly
Capital
dividend
of 1 Mpayable
Per Centononthethe30th
Company,
day
of
December. 1910, to stockholders of record at
the close of business December 23. 1910.
J. SELLERS BANCROFT,
Treasurer.
Philadelphia. December 6. 1910
CHICAGO
Portland. Ore.
Oklahoma City. Oklahoma.
Mobile, Ala.
M. H. ARNING, Treasurer.
GAS
&
ELECTRIC
The regular quarterly dividend of One and
One-Half Per Cent (1H%) on the Preferred Stock
of American Gas & Electric Company has been
declared for the quarter ending January 31st,
FRANK
Office of
H. M. BYLLESBY & COMPANY.
Engineers,
Managers,
Chicago.
OKLAHOMA
of Oklahoma
City, Oklahoma, has declared a quarterly dividend
of two per cent (2%) upon the common stock of
the company, payable by check December 15th
1910 to stockholders of record as of the close of
business November 30th 1910.
ROBERT J. GRAF, Assistant Secretary.
Office of
H. M. BYLLESBY & COMPANY,
Engineers,
Managers,
Chicago.
The Board of Directors of the SAN DIEGO
CONSOLIDATED
ELECTRIC COM¬
GAS &
PANY of San Diego, California, has declared a
quarterly dividend of one and three-quarters per
cent (1 %%) upon the common stock of the com¬
pany, payable by check December 15th 1910 to
stockholders of record as of the close of business
November 30th 1910.
ROBERT J. GRAF, Assistant Secretary.
OFFICE
stockholders
of record on the books of the Company at the close
of business January 21st, 1911, on which day the
Transfer Books will close and re-open February 2,
1911.
dividends.
The Board of Directors of the
GAS & ELECTRIC COMPANY
COMPANY.
PREFERRED STOCK DIVIDEND
New York, December 15, 1910.
1911, payable February 1st, 1911, to
30 BROAD STREET
NEW YORK
The
January 4, 1911.
AMERICAN
218 La Salle Street,
NEW YORK
& SELLS
PUBLIC
EXAMINATIONS and REPOBT8
PREFERRED STOCK DIVIDEND NO. 5
The regular quarterly dividend of One and
One-Half (1H%) Per Cent on the Preferred Stock
of American Power & Light Company has been
declared for the quarter ending December 31,
1910, payable on the third day of January, 1911,
to Preferred Stockholders of record at the close of
business December 20, 1910, on which date the
transfer books will close and reopen on Wednesday
OF
VIRGINIA-CAROLINA CHEMICAL CO„
BALL,
B.
Treasurer.
AMERICAN GAS & ELECTRIC COMPANY.
COMMON STOCK DIVIDEND
New York, December 15, 1910.
The regular quarterly dividend of One and
Dne-Half Per Cent (1 M%) on the Common Stock
>f American Gas & Electric Company has been
ieclared for the quarter ending December 31st,
L910, payable January 2nd, 1911, to stockholders
>f record on the books of the Company at the close
>f business December 21st, 1910, on which day
;he Transfer Books will close and reopen January
Ird, 1911.
D ATT
nVAAom>m>
T^V>
A
XTI/1
The Western Union
D
Telegraph Company
NEW YORK, Dec. 14th 1910.
DIVIDEND NO. 167.
A quarterly dividend of THREE-FOURTHS
OF ONE PER CENT has been declared upon the
Capital Stock of this Company, payable at the
of the Treasurer on and after the 16th
day of January 1911 to1 shareholders of record
at the close of business on the 20th day of De¬
office
cember 1910.
The transfer books will remain open.
A. R. BREWER, Treasurer.
Richmond, Va., December 13, 1910.
DIVIDEND NO. 61.
The Board of Directors have this day declared
a dividend of Two (2%) Per Cent, the same being
consecutive quarterly dividend No. 61, on the
Preferred Stock of this company, payable January
16, 1911, when checks will be mailed to all pre¬
ferred stockholders of record at the close of busi¬
ness
on
December 31, 1910.
The Preferred
Stock books will be closed from 12 m. on Satur¬
day, Dec. 31, 1910, to 10 a. m. Monday, Janu¬
ary 16, 1911.
S. W. TRAVERS, Treasurer.
DULUTH EDISON ELECTRIC CO.
Duluth, Minn., December 13, 1910.
CITIES
SERVICE COMPANY
The Directors of the Cities Service Company
have declared a dividend of 1
on the pre¬
ferred stock and H of 1% on the common stock,
payable January 1st 1911 to holders of record
December 20th 1910.
Thereafter dividends on
will be paid at the rate of
on
the preferred stock
H of 1% a month to
the 20th of each pre¬
stockholders of record on
ceding month.
CARLE B. GILBERT, Secretary.
UNITED
FRUIT
COMPANY
DIVIDEND NO. 19.
The regular quarterly dividend of 1
% on the
Preferred
Stock of the
EDISON
DULUTH
ELECTRIC COMPANY has been declared for the
quarter ending November 30, 1910, payable on
the third day of January, 1911, to all stock¬
holders of record of Preferred Stock at the close
A quarterly dividend of two per cent on the
capital stock of this company has been declared,
payable January 14 1911 at the office of the
Treasurer, 131 State Street, Boston, Mass., to
of business on the 20th day of December, 1910.
The transfer books will not close.
c. E. VAN BERGEN. Secretary.
stockholders of record at the close of business
December 24 1910.
CHARLES A. HUBBARD, Treasurer.
Office HOMESTAKE MINING CO.
Mills Building, 15 Broad St.,
New York, Dec.'14th, 1910.
DIVIDEND NO. 433.
Dividend No. 433 of Fifty (50) cents per sha
has been declared payable at the Transfer Agen
In New York on the 24th Inst.
Transfer boo
close on the 20►h «nst.
LOUNSBERY & CO.. Transfer Agents.
A quarterly dividend of One and One-Quarter
Per Cent (1 H%) has been declared upon the
Preferred Stock of this Company, payable on
January 2, 1911, to stockholders of record at the
close of business December 18, 1910.
Transfer
Books will remain open.
Checks mailed.
R. H. ISMON, Secretary*
DIVIDEND NO. 46
AMERICAN CAN COMPANY.
XIII
THE CHRONICLE
Dec. 17 191U.J
gitutttjclal.
& SANTA FE
RAILWAY COMPANY.
THE ATCHISON TOPEKA
TO THE HOLDERS OF
1910.
a semi¬
on the
New York, December 7,
The Board of Directors has declared
annual dividend (being dividend No. 25)
$5,000,000
PREFERRED STOCK of this Company of TWO
DOLLARS AND FIFTY CENTS ($2.50) per
February 1, 1911, out of surplus
of said PREFERRED
the books of the Com¬
pany at the close of business on December 30,
1910.
The books will not be closed.
Dividend cheques will be mailed to holders of
PREFERRED STOCK who file suitable orders
share, payable
income, to holders
STOCK as registered on
net
therefor at this office.
C. K. COOPER, Assistant Treasurer.
5 Nassau Street, New York City.
LOUISVILLE & NASHVILLEI RAILROAD CO.
71 Broadway, New York, Dec. 15, 1910.
The Board of Directors of this Company has this
day declared a semi-annual cash dividend of
Three and One-Half Per Cent (3H%), payable
February 10, 1911, to stockholders of record at
the close of business on January 20, 1911.
The Stock Transfer Books will close at 3 o clock
P. M., on January 20, 1911, and reopen at 10
o'clock A. M., on February 11, 1911.
Checks will be mailed to stockholders who have
filed permanent dividend orders at this
E. L. SMITHERS, Assistant Treasurer.
office.
CHICAGO INDIANAPOLIS &
LOUISVILLE
RAILWAY COMPANY.
No. 52 Broadway, N. Y., Dec. 15, 1910.
A dividend of One and Five-eighths
(1 %%)
Per Cent on the Common Stock, and a semi(2%)
Cent
annua
dividend of Two
Per
on the
Preferred Stock, has been declared out of the
accumulated Income of the Company, payable on
and after December 30, 1910, at the office of
Messrs. J. P. Morgan & Co., 23 Wall Street, New
York, to Stockholders of record at the close of
business December 23, 1910.
J. A. HILTON, Secretary.
THE CHICAGO & ALTON RAILROAD CO.
60 Wall St., New York, Dec. 13, 1910.
A dividend of $2 per share on the Cumulative
4% Prior Lien & Participating Stock and $2 per
share on the Preferred Stock of this Company has
been declared, payable January 16,
1911, to
holders of record of said stocks at the close of
business December 31, 1910.
The stock transfer
books will not be closed for the payment of these
dividends.
Checks for the above dividends will be mailed.
F. H. DAVIS, Treasurer.
LOUIS & WESTERN
RAILROAD COMPANY.
York, Dec. 8, 1910.
A quarterly dividend of One Per Cent on the
Prelerred Stock of this Company has been declared
out of the surplus earnings of the Company,
payable January 16, 1911, to holders of record
of said stock at the close of business December 31,
The stock transfer books will not be closed
1910.
for the payment of this dividend.
Chicks for the above dividend will be mailed.
TOLEDO ST.
60 Wall St., New
JAS. STEUART
MINNEAPOLIS & ST. LOUIS RAILROAD COMPANY
5% GOLD NOTES, DUE FEBRUARY 1, 1911.
Holders of the above-mentioned Notes are hereby notified that this Company
has decided to pay off at maturity $1,000,000 par value thereof, and to
to
extend the remaining $4,000,000 Notes to February 1, 1913, at 5% interest per
offer
payable semi-annually, February 1st and August 1st.
$4,000,000 Notes will be secured by the same collateral as is now pledged
$5,000,000 Notes, viz.:
$6,250,000 Minnesota Dakota & Pacific Railway Company First Mortgage
Bonds, being all the bonds issued in respect of 229.60 miles of railway, on
which said bonds are a first mortgage, and all the stock.
The Indenture securing the $4,000,000 Notes issued in exchange for those
maturing will provide that the Minnesota Dakota & Pacific Railway Company
First Mortgage Bonds, deposited as collateral, shall bear interest at the rate of
5% per annum instead of 4% as heretofore, that the Company shall deposit
thereunder any additional Minnesota Dakota & Pacific Railway Company Bonds
and Stock which may be issued during the life of said Notes, that the collateral
may be changed with the written consent of Speyer & Co. under the terms and
restrictions therein set forth, and that the new Notes may be redeemed at any
time at par and interest, at the company’s option, upon sixty days’ previous notice.
A cash payment of $25 in respect of each $1,000 Note extended will be made
to holders accepting the extension.
Holders of the above-mentioned Notes who desire to avail themselves of the
privilege of extension on the above-mentioned terms, must, ON OR BEFORE
JAN. 5, 1911, deposit same (ex February 1, 1911, coupons) with MESSRS.
SPEYER & CO.,t New York, against Temporary Receipts, exchangeable for the
Definitive New Notes on or about February 1, 1911, when the payment of $25
per $1,000 Note will be made.
The right is reserved to withdraw the above offer
at any time without previous notice.
;
Notes not deposited for extension as above will be paid at maturity at the
office of the Central Trust Company of New York.
Copies of the Trust Indenture securing the New Notes to which reference is
made may be obtained upon application.
annum,
The
for the
THE MINNEAPOLIS & ST. LOUIS RAILROAD
CO.,
By F. H. DAVIS, Treasurer.
New
York, December 16th, 1910.
MACKIE, Treasurer.
THE DENVER & RIO
GRANDE
Referring to the foregoing notice, we are now prepared to accept deosit
will, on behalf of The Minneapolis & St. Louis Railroad
Company,
simultaneously
with the delivery of the new Notes, make the abovea semi-annual dividend of TWO AND ONE-HALF
mentioned cash payment of $25 in respect of each $1,000 Note extended.
PER CENT (2H%) on the Preferred Stock of
RAILROAD CO. (Consolidated).
165 Broadway, New York, December 1st 1910
The Board of Directors has this day declared
this
Company,
payable January
16th 1911 to
stockholders of record on December 24th 1910.
The transfer books of the Preferred Stock will
close at 12 o’clock noon on December 24th 1910
and will re-open on the morning of January 9th
1911.
STEPHEN LITTLE, Secretary.
THE HOCKING
of the Notes, and
SPEYER
New
York, December 16th, 1910.
VALLEY RAILWAY CO.
December 1, 1910.
TWO PER CENT
(2 %) has this day been declared upon the Common
Ulultfetuls.
New York,
A semi-annual dividend of
payable January 16, 1911,
at the office of J. P. Morgan & Co., New York
City, to stockholders of record December 23, 1910,
Stock transfer books will not close.
Checks will
be mailed to stockholders of record who have filed
Stock of the Company,
dividend orders.
JAS. STEUART MACKIE, Treasurer.
NEW YORK CENTRAL & HUDSON
RIVER RAILROAD COMPANY.
Treasurer’s Office, New York, Dec. 7th, 1910.
A dividend of Five Per Cent on the capital stock
of the New York & Harlem Railroad Company
will be paid by the New York Central & Hudson
River Railroad Company, Lessee (under the pro¬
visions of the contract between the two com¬
panies) at this office on the 3rd day of January
next, to stockholders of record at the close of
business on the 15th inst.
EDWARD L. ROSSITER, Treasurer.
46TH CONSECUTIVE DIVIDEND
MECHANICS’ TRUST COMPANY
OF NEW JERSEY
Bayonne, N. J., December 8th, 1910.
At a meeting of the Board of Directors held this
day, the regular quarterly dividend of 5% on the
paid-in Capital Stock of the Company was de¬
clared, payable on the Third day of January,
next, to Stockholders of record at the close of
busiaess December 28th, instant.
Transfer books will be closed at 3 P. M. Decem¬
ber 28th inst., and reopened at 9 A. M., January
3rd,1911.
W. R. WILDE, Treasurer.
GIRARD TRUST COMPANY.
148th Semi-Annual Dividend
At a meeting of the Board of Managers, held
this day, a dividend of SEVENTEEN (17%)
PER CENT was declared, payable on January 3,
1911, to stockholders of record on the books of the
Company at the close of business December 17,
CENTRAL & HUDSON
RIVER RAILROAD COMPANY.
THE NEW YORK
A
per
New York, December 14th, 1910.
Quarterly Dividend of One and One-half
cent (1 H%) on the capital stock of this Com-
?any
has16th,
been1911,
payable
Monday,
declared
on Treasurer,
at the Office
anuary
of the
of record at the close of business
Thursday, the 22nd instant.
EDWARD L, ROSSITER, Treasurer.
to stockholders
on
17
THE UNION BAG & PAPER CO.
Battery Place, N. Y., Dec. 10, 1910.
47TH QUARTERLY DIVIDEND.
A dividend of 1% on the preferred stock of the
Union Bag & Paper Company has this day been
declared, payable January 16th, 1911, to stock¬
holders of record at the close of business on
Dec. 31, 1910.
C. R. McMILLEN, Secretary.
OTIS ELEVATOR COMPANY.
17 Battery Place, N. Y. City, Dec. 14, 1910.
The Board of Directors of the Otis Elevator
Company has this day declared a quarterly divi¬
dend of $1 50 per share upon the PREFERRED
STOCK of the Company, payable at this offioe
January 16, 1911, to the Preferred Stockholders
of record at the close of business December 31,
1910,
W. G. MCCUNE, Treasurer.
&, CO.
Checks for dividends will be mailed.
C. J. RHOADS, Treasurer.
1910.
Philadelphia, Pa., December 15, 1910.
FULTON TRUST CO. OF NEW YORK.
City, Dec. 15, 1910.
37th Consecutive Semi-Annual Dividend
By resolution of the Board of Trustees a
dividend of FIVE PER CENT Is payable on
January 8, 1911, to stockholders of record at
the close of business, 3 P. M., December 19, 1910.
HENRY W. REIGHLEY, Secretary.
30 Nassau St., N. Y.
SEABOARD NATIONAL BANK
18 Broadway, New York, N. Y.
regular meeting of the Board of Directors,
a quarterly dividend of Three
(3%) Per Cent
on the capital stock of this bank was declared,
At
a
olders of
freerecord
3, 1911,
Eayable
of tax C.onDecember
January 24,
1910. to stockC.
THE UNITED STATES FINISHING COMPANY.
320 Broadway, N. Y., December 15, 1910.
PREFERRED STOCK DIVIDEND NO. 46
The Board of Directors have this day declared
the regular quarterly dividend of One and ThreeQuarters Per Cent (19*%) upon the Preferred
Stock of this Company, payable January 2, 1911,
to Stockholders of record at the close of business
December 21, 1910.
COMMON STOCK DIVIDEND NO. 8.
The Board of Directors have this day declared
dividend of One Per Cent (1%) upon the
Common Stock of this Company, payable January
a
2nd, 1911, to stockholders of record at the close
of business December 21, 1910.
F. S. JEROME, Treasurer.
THE UNITED STATES FINISHING COMPANY.
320 Broadway, N. Y., December 15, 1910.
Coupons
No. 13, due January 1, 1911, on
Consolidated Mortgage 5% gold bonds of this
Company will be paid at the office of The Trust
Company of America, 37 Wall Street, New
York City.
Coupons No. 19,"due January 1, 1911, on First
Mortgage 5% bonds of The Sterling Dyeing &
Finishing Company will
be paid at the office of
The Trust Company of America, 37 Wall Street,
New York City.
F. S. JEROME, Treasurer.
The
American
Manufacturing Co.
No. 65 Wall Street.
New York City, Dec. 15th, 1910.
A dividend of ONE AND ONE-HALF PER
CENT (19*%) has been declared on the stock of
this Company, payable Dec. 31st, 1910, to stock¬
holders of record Dec. 15th, 1910.
W. W. CHILDS, Secretary.
on
THOMPSON, Cashier.
THE AEOLIAN. WEBER PIANO &
PIANOLA
THE
UNITED
GAS
IMPROVEMENT
N. W. Corner Broad and Arch Sts.
CO.
COMPANY.
At a meeting of the Board of Directors held this
day the regular quarterly dividend of ONE AND
The Directors have this day declared a quarterly
dividend of two per cent ($1.00 per share), payable
THREE-QUARTERS (19*%) PER CENT was
declared upon the Preferred Stock of the Company,
payable the 3-lst inst. to stockholders of record
will be
|
Philadelphia, Dec. 14 1910.
January 14 1911 to stockholders of
record at the
close of business December 31 1910. Checks
mailed.
LEWIS LILLIE, Treasurer.
December 24,
1910.
WILLIAM E. WHEELOCK, Treasurer.
December 14th, 1910. • •
„
j
XIT
THE CHRONICLE
[VOI., 1-tTTTT.
ItnimcM.
Wabash Pittsburgh Terminal Railway
To the Holders of 4% FIRST MORTGAGE BONDS and
CENTRAL TRUST COMPANY CERTIFICATES FOR BONDS:
The New York Stock Exchange has admitted to its official list the Certificates of Deposit of the Columbia
Trust Company for bonds and Central Trust Company Certificates deposited with the Committee on condition
that this Committee will extend the time for deposit for thirty days, which we have consented to do.
You are accordingly herewith notified that the time for the deposit of your bonds and Central Trust
Company Certificates with the COLUMBIA TRUST COMPANY, NUMBER 135 BROADWAY, NEW YORK CITY,
is hereby extended to and including JANUARY 16, 1911.
No deposits will be received after that date except
in the discretion of the Committee and under such penalties as it may impose.
After the lapse of upwards of two years, during which time the properties of the Wabash
Pittsburgh
Terminal Railway have been reduced to such a condition of helplessness and their earning power so effectually
destroyed that they have not earned their operating expenses, the Committee has finally succeeded, against the
opposition of the Wabash Railway, in procuring authority of the Court for the issue of $2,000,000 of Receivers’
Certificates for the purpose of acquiring equipment to enable the Company to resume business.
The Committee has employed Mr. Horace G. Burt, formerly President of the IJnion Pacific
Railway, to
make a thorough investigation and report on your properties to aid the Committee in
formulating a Plan of
Reorganization. Your Committee is, however, convinced, from personal inspections of the properties and other
investigations already made by them, and from the events of the Receivership, that it is not to the interest of the
bondholders to become parties to any plan which contemplates the future domination of the Wabash Railway
or any alliance with that Company, or that it shall have any influential voice in
the management.
For that reason, among others, the Committee has been unable to agree to any of the Plans of
Reorganization
that have been suggested.
Your prompt and active co-operation is required to produce the best results for the
are therefore invited to deposit your bonds and certificates without delay.
Bondholders, and
you
Dated, New York, December 15, 1910.
JAMES C. CHAPLIN,
MEIGS H. WHAPLES,
WILLIAM R. NICHOLSON,
CLARENCE L. HARPER,
RICHARD SUTRO,
Committee.
EDGAR A. HICKMAN, Secretary.
/
SAMUEL UNTERMYER,
Counsel to the Committee.
37 Wall Street, New York.
<e@tawlje£.
TAX DATE-JANUARY 9TH.
Open for Engagement
We offer for tax exemption
JANUARY 1, 1911
Guaranteed and Preferred Railroad Stocks
to
The advertiser, with 19 years’
experience in Municipal,Corporation
bonds and Preferred Stock, would
yield 3.85% to 5.80%
Special descriptive circulars
on
form a connection with out-of-town
house desiring to open in New York
or would preferably represent large
application.
operators and originators of Public
c6C*
Td.
1780
Rector
5 Nassau St.
New
York.
Vickers A Phelps
29
WALL
STREET
Member8 N Y Stock Exchange
<&xiizzxis ©jeutral
IJatimxal gauh
Our latest circulars on Guaranteed
Stocks and| High-Class Railroad Pre¬
ferred Stocks can be had on application.
of
gljejctijcrtx*.
MO BROADWAY
i
Edwin S. Schenck, President
Francis M. Bacon Jr.. Vice-President
Albion K. Chapman, Cashier
Jesse M. Smith, Asst. Cashier
James McAllister, Asst. Cashier
W. M. Haines, Asst. Cashier
The Annual Election for Directors of this Bank
will be held at the banking house, Nassau and
Pine streets, Tuesday, January 10th 1911, be¬
tween the hours of 12 o’clock M. and 1 o’clock
P. M.
ELMER E. WHITTAKER, Cashier.
11 WALL
EXPERIENCED1 SALESMANI of Bonds and
High-Class Industrial Preferred Stocks desires
Has had upwards of 10 years’
connection.
experience in New York State, Pennsylvania and
new
Baltimore
MAN,”
BONDMAN,
our
firm.
MAYER ic CO.
experienced
in
railroad
and
Long established New York Stock Exchange
house can accommodate with desk room and
office facilities one or two desirable Board mem¬
bers.
Address N. P. R., care Chronicle, P. O.
Box 958, New York.
fitting*.
THE NATIONAL CITY BANK OF NEW YORK.
December 3rd, 1910.
The annual meeting of the shareholders of this
bank, for the election of directors and the trans¬
action of such other business as may be brought
before It, will be held at Its banking house in Wall
Street, on Tuesday, January 10th, 1911, at
twelve o’clock noon.
A. KAVANAGH. Cashier.
Qiqni&xtlttW.
The
VOLUNTARY LIQUIDATION
Witherspoon National Bank located^at
Lawrenceburg In the State of Kentucky, Is closing
its
Mr. Justus G. Dettmer has this day been ad¬
mitted to our firm.
City.
unlisted securities, wishes to form connection
with Stock Exchange house or represent out-oftown house.
Box 75-R, Doremus & Co., 44
Broad Street, New York City.
STREET,
New York, December 12 1910.
Mr. Abraham B. Baylis retires this day from
and the
South.
Address ’’BOND
Commercial & Financial Chronicle,
care
P. O. Box 958, N. Y.
THE HANOVER NATIONAL BANK
of the City of New York.
New York, December 10 1910.
®opxxttux*1iip*.
Capital
$2,550,000
Surplus and Profits $1,700,000
Utilities desiring to market their
securities. Address “A. W.,” care
Commercial and Financial Chronicle
P. O. Box 958 N. Y. City.
affairs.
All noteholders and other creditors
of the association are therefore hereby notified
to present the notes and other claims for payment.
This December 13th, 1910.
W G. WITHERSPOON, Cashier
D«*. 17 1910.]
THE CHRONICLE
XT
ytmcmcfadL
The Fourth National Bank
Nassau, Pine and Cedar Streets
NEW YORK CITY
Capital and Surplus $10,000,000
We
are
moving into
DIRECTORS.
our
and commodious bank¬
new
JAMES G.
CANNON,
President
ing
rooms
to-day and wish
CORNELIUS N.
of
to extend to all of
custo¬
our
ROBERT W.
mers
and friends
STUART,
Broad Exchange
cordial
a
WILLIAM S.
greeting and to
hope that
on
express
the
account of
our
even
Bldg.
OPDYKE,
20 Nassau Street
T. FRANK
MANVILLE,
Pres, of H. W. Johns-Manville
Company
enlarged facilities
be of
BLISS,
Bliss, Fabyan & Co.
we may
THOMAS H.
Hargadine-McKittrick
Dry Goods Co., St. Louis, Mo.
greater service to
them in the future than
McKITTRICK,
Pres, of
we
MORTIMER L.
SCHIFF,
ofgKuhn, Loeb & Co.
have been in the
It will afford
to welcome to
household
past.
L. F.
us
pleasure
our
business
LOREE,
President of the Delaware
Hudson
EUGENE
&
Company
DELANO,
of Brown Brothers & Co.
those who
need
M. ORME
WILSON,
of R. T. Wilson & Co.
new
or
additional
banking
ELBRIDGE G.
SNOW,
President of the Home Insur¬
connections.
ance
Company
OFFICERS
JAMES G.
SAMUEL S.
GANNON, President
CAMPBELL,
CHARLES H.
PATTERSON,
Vice-President
Vice-President
DANIEL J.
ROGERS,
Cashier
ERNEST W.
DAVENPORT,
Assistant Cashier
4
XVI
THE CHRONICLE
[VOL.
UXXXXI
financial.
$200,000
CANTON-AKRON CONSOLIDATED RAILWAY CO.
General Mortgage 5% Gold Bonds
Dated
j
October, 1906.
Maturity January, 1933.
Interest payable January and July at The Citizens’ Savings and Trust Co. Bank, Cleveland, Ohio.
Coupon Bonds.
Guaranteed
as
to
Denomination SI,000.
Principal and Interest by
The Northern Ohio Traction & Light
Company
In
October, 1906, The Canton-Akron Consolidated Railway Co. was purchased by The Northern
Ohio Traction & Light Co. The general mortgage bonds above described were
guaranteed, principal
and interest, by The Northern Ohio Traction & Light Co. by endorsement on each bond.
EARNINGS
The net
Company,
twice the
The
Surplus earnings of the Canton= Akron division of the Northern
as a
separate property,
cover
interest requirements
Ohio Traction &
Light
this issue of bonds outstanding
on
required amount.
following table exhibits the earnings of The NORTHERN OHIO TRACTION
& LIGHT
COMPANY for each of the calendar years from 1907 to 1910, inclusive.
Deductions for interest cover the entire outstanding bonded debt of the Northern Ohio Traction
& Light Company and constituent properties,
including the Canton & Akron general mortgage 5%
bonds:
Gross
Net
Earnings
Earnings
Interest
on
all Bonds
Surplus
*
1907.
1908.
1909/
$1,909,060
813,305
513,242
300,063
$1,890,473
804,049
526,532
277,517
$2,177,641
987,584
.524,065
463,519
*1910.
$2,440,S76
1,089,691
521,066
568,625
October, November and December, 1910, estimated.
The total Northern Ohio Traction &
Light Company stock issued and outstanding is $9,000,000,
being paid quarterly at the rate of 3% per annum. The stock is listed on the
New York, Montreal, Toronto, Cleveland and Cincinnati Stock
Exchanges. At the present quoted
prices, there is a market equity junior to all bonds of $3,600,000.
The net earnings of Northern Ohio Traction &
Light Company are sufficient to pay interest on
ts entire bonded debt, including all Canton-Akron
Railway issues, twice over.
which dividends
on
•
are
Printed prospectus,
including
map,
furnished
on
request.
Price 87& and Interest
Yielding Six Per Cent
on
the Investment
CLAUDE ASHBROOK
MEMBER CINCINNATI STOCK EXCHANGE
7 E. FIFTH STREET
CINCINNATI, OHIO
Deo. 17 lillO.
THE CHRONICLE
XYII
IfltXJtttJCfetl.
$6,250,000
Western Electric Company
FIRST MORTGAGE 5 PER CENT GOLD BONDS
Dated December 30, 1909
Due December 31, 1922
Interest payable January 1 and July 1 In Chicago and New York
Callable as a whole or In part on any interest date after 1911 at 105 and interest
Coupon bonds of $1,000 denomination;
may
be registered as to principal only
Trustee, THE MERCHANTS’ LOAN & TRUST COMPANY. Chicago
Outstanding, including bonds
now
offered (closed mortgage), $15,000,000
$8,750,000 of these bonds are listed on the New York and Chicago Stock
Exchanges and application will be made to list those now offered
From
a
letter of the President of the
request)
we
summarize
as
Company (a copy of which letter will be sent upon
follows—
1.
First
2.
American Telephone & Telegraph Co. owns 80% of the $15,000,000 Capital Stock.
Western Electric Co. has paid 8% dividends continuously last 15 years. Undivided
Mortgage
plants and real estate costing
on
over
$18,500,000.
surplus more than $17,000,000.
3.
Total assets about $49,000,000; more than 3 times this entire issue.
4.
Company has called for payment January 1, 1911, its 4J/£% Notes. It will then have
no debt except these $15,000,000 bonds.
It has ample working capital, including
about $3,000,000 cash.
5.
Cash and net quick assets (now about $36,000,000) must always be at least double
the amount of these bonds outstanding.
8.
Average net profits last 6
7.
Largest manufacturer of telephonic apparatus in the world and largest distributer of
electrical supplies in United States. Average annual gross sales last 6 years over
years more
than 4 times total interest charges.
$46,000,000.
$1,500,000
United Fruit Company
4J4 PER cent sinking fund gold debentures
Dated
January 1, 1911
Due July 1, 1925
Interest payable January 1 and July 1
Coupon debentures in denominations of $500 and $1,000; registered debentures in denomina¬
tions of $1,000 and $5,000; Coupon and Registered debentures are interchangeable; Principal
and Interest payable in Boston, or in London at the rate of $4.86 per Pound Sterling
OLD COLONY TRUST COMPANY. BOSTON. Trustee
Annual sinking fund payable July 1, 1916, to July 1, 1924, Inclusive, will retire one-tenth of the debentures
#ach year.
To be called for sinking fund at 101 and interest unless purchased at or below such price
,
TOTAL
ISSUE, $1,500,000
Application will be made to list the debentures
From
a
letter of the President of the
request)
wre
summarize
as
on
the Boston Stock Exchange
Company (copy of which letter will be sent
follows—
upon
1.
Company has
2.
Funded debt,
3.
Net assets in excess of all liabilities on Sept. 30, 1910, $37,948,536, to which will be
added proceeds of this issue; a total of more than 5}4 TIMES FUNDED DEBT
4.
Net income year ending Sept. 30, 1910, $6,552,576.
this issue, $322,750
5.
NET INCOME MORE THAN 20 TIMES INTEREST CHARGES.
since incorporation more than 10 times these interest charges
6.
Annual cash dividends of from
tion in 1899
7.
Stock
no
mortgage debt and
no
mortgage
can
be placed ahead of these debentures
including this issue, $7,030,000
Annual interest charges, including
Average net income
7% to 10% have been paid continuously since organiza¬
outstanding Dec. 6,1910, $27,058,900. Present market value, about $53,000,000,
or over
7 times Funded Debt
8.
Issued for construction of three new
amount of debentures now issued
9.
Sinking fund retires 10% each
year,
steamships which co3t
&
BOSTON
HIGGINSON
(This advertisement is published only
15% more than the
beginning in 1916
Lee, Higginson
NEW YORK
over
as a
&.
Co.
CHICAGO
CO, LONDON
matter of record as both issues have been sold.)
THE CHRONICLE
xnn
[VOL.
LXXXXI.
glnanxtal.
ISSUES TAX EXEMPT IN NEW YORK STATE
Minn. St. Paul & Sault Ste. Marie
Ry. Co.
(“SOO” LINE
4% Leased Line Stock Certificates
Authorized $12,500,000
Dividends
Outstanding $11,143,100
payable in New York April 1 and October 1
Listed
on
to stockholders of record March 20 and
the New York and London Stock
Sept. 20
Exchanges
Issued in exchange for an equal amount of preferred stock of the Wisconsin
Central Railway Company,
on which the Minneapolis St.
Paul & Sault Ste. Marie Railway Company agrees to pay dividends at the
rate of 4% per annum for 98 years.
The Wisconsin Central Railway Company is controlled through lease
of its railways for 98 years and purchase for cash of a
majority of its common stock of $17,500,000.
The income account of the “Soo” Railway for
the
fiscal year ending June 30, 1910, shows surplus of
$4,400,442 over all fixed charges, including interest on the Leased Line certificates, the amount available
being nearly eleven times the charge on the latter.
The payments on the Leased Line stock certificates are a claim on the
earnings of the
St. Paul & Sault Ste. Marie Railway Company prior to the dividends on both issues of its Minneapolis
own stock,
which are paid at the rate of 7%.
The Canadian Pacific Railway Company has long owned a majority
of both classes of “Soo” stock.
The net return
at
present market price is about
4.40%
$100,000
Queens Borough Gas & Electric Company
General
Dated 1902
Mortgage 5% Gold Bonds
Interest payable
January 1 and July 1
Authorized, $2,000,090
Due July I, 1952
Outstanding, $1,600,000
Coupon bonds of $1,000 each, with privilege of registration of principal
Under the terms of the mortgage
these bonds are secured by a lien on the franchises, real estate,
and electric plant, and all other properties of the Queens Borough Gas & Electric Company now
owned or hereafter acquired
The Company is organized under the laws of the State of New York and
does the electric and gas lighting business in the
Roekaway District of New York City (5th Ward,
Borough of Queens), and in one of the best known and most rapidly developing suburban districts.
It has no competition and operates under
perpetual franchises both for gas and electricity, except that
the franchises on the Nassau County Road are for 50
years from 1904.
The population has about
doubled since 1905, and is now
increasing more rapidly than ever before. The net earnings for nine
months ending September 30, 1910, were
$182,632, or at the rate of nearly two andT’one-halfStimes the
annual bond interest of
gas
.
$100,000.
Price 10054 and Interest to
net
about
5%
FULL DETAILS UPON APPLICATION.
Members of the New
Bankers
York, Chicago and Boston Stock Exchanges
25 Nassau Street, New York
19
Congress Street
BOSTON
203 East German Street
240 La Salle Street
BALTIMORE
CHICAGO
5
Lothbury, E. O.
LONDON
TV
tfmtmrctfl
INCLUDING
Bank &
Quotation Section
Railway Earnings Section
VOL. 91.
Railway & Industrial Section
Electric
Bankers* Convention Section
State
SATURDAY, DECEMBER
Jlte CIircmicLe.
17 1910.
For One Year
For Six Months
Subscription—Payable
Week ending December 10.
1910.
in Advance
6 00
European Subscription (including postage)
13 oo
European Subscription six months (including postage)
7 50
Annual Subscription in London (including
postage)
£2 14 s.
Six Months
Subscription in London (including postage)
£1 11 s«
Canadian Subscription (including postages
$11 50
Subscription includes following Supplements—
Bank and Quotation (monthly)
State and City (semi-annually)
Railway and Industrial (quarterly) Electric Railway
(3 times yearly)
Railway Eabnlsgs (monthly)
Bankers’ convention (yearly)
}
(
13
times)
gi^Mcmths h8 a26 times)
Twelve Months
Milwaukee.
Indianapolis
Columbus
Toledo
Peoria
Grand
Rapids
Dayton
Evansville
Kalamazoo
Fort Wayne
22
29
50
87
Youngstown
00
00
00
00
WILL IA HI B. DANA COMPANY,
Publishers,
P. O. Box 958.
Front, Pine and Depeyster Sts..
New York.
Published every Saturday morning by WILLIAM B. DANA
COMPANY.
Jaoob Seibert Jr., President and Treas.; George S. Dana and Arnold G.
Dana,
Vice-Presidents: Arnold G. Dana, Sec. Addresses of all. Office of the
Company.
South Bend
Springfield, Ohio
Decatur
Mansfield
Jackson
Danville
Jacksonville, Ill.
Ann Arbor
Adrian
Lansing
Philadelphia
Baltimore
30.557,774
238,936.267
69,570.280
21,560,120
Chicago
St. Louis
New Orleans
_
Per
Cent.
1909.
$1,452,261,160
132,632,664
120,385,604
$1,842,929,799
146,616,102
149,393,124
28,777,981
255,023,381
69,541,805
21,855,979
—21 2
—9.6
—19.4
+6.2
—6.3
+0.04
—1.3
Seven cities, 5 days
Other cities, 5 days I
$2,065,902,869
528.962,741
$2,514,138,171
—17.8
525,413.278
+0.7
T Total all cities, 5 days.All cities, 1 day
$2,594,865,610
528,017,406
$3,039,551,449
647,259,528
—14.6
—18.4
$3,686,810,977
_—15.3
Total all cities for week
$3,122,883,016
The full details for the week covered by the above will be
given next Sat¬
urday.
We cannot furnish them to-day, clearings being made up by
the
clearing houses at noon on Saturday, and hence In the above the last day
of the week has to be In all cases estimated, as we
goto press Friday night.
We present below detailed figures for the week
ending with Saturday,
noon, October 22, for four years.
Week
Clearings at—
New York
Baltimore
Buffalo
Albany
Washington
Rochester
Scranton
Syracuse
Wilmington
Reading
Wilkes-Barre
Wheeling
Harrisburg
Trenton
York
Erie
Chester
....
Altoona
Franklin
Total Middle..
Boston
Providence
Hartford
New Haven
1909.
$
$
%
10,151,214
6,289,447
8,165,306
4,322,716
2,597,905
2,140,682
1.384,116
1,434,892
1,526,038
1,913,053
1,172,256
2,349,946
1,048,668
826,260
509,966
517,192
501,300
441,104
300,000
Springfield
Holyoke
Eng.
8,333,800
3,974,040
2,597,273
2,137.062
2,008,005
1,981,292
1,523,871
1,177,457
559,782
581,216
%
Spokane
Salt Lake City
Portland
Tacoma
Oakland
Helena
Sacramento
San Diego
Stockton
San Jose
Fresno
North Yakima
9,448,176
6,069,740
7,761,088
3,884,784
2,969,282
2,045,068
1,648,194
1,566,449
1,519,392
1.624,890
1,252,979
2,316,897
978,943
715.235
618,817
745,330
446,400
435,052
311,426
Pasadena
Total Pacific..
Kansas
City
Minneapolis
Omaha
St. Paul
Denver
1
Duluth
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
Davenport
1908.
1907.
$
$
165.765,414
8,182,300
4,140.384
2,675,610
2,275,000
1,640,251
1.658.159
1,542,669
1,437,454
513,024
546,164
—13.6 2.004,408,464
—7.2
121,531,404
—2.2
39,798,705
+0.9
+7.4
+ 3.6
+ 5.2
+ 11.3
—12.5
+ 4.6
—16.0
—8.4
*
+0.4
+ 17.8
—6.4
+ 1.4
+7.2
+ 15.5
27,136,017
7,932,760
6,704,440
6,252,611
3,415,738
2,552,917
1,882,753
1.222.729
1,368,043
1,247,410
1,384,631
1,087,264
1,617,900
796,719
665,979
485,516
494,348
502,400
403,920
—17.6
—30.6
+ 12.3
+ 1.4
—3.7
—12.5
..
Billings
297,396
1,305,346,842
110,402,211
46,555,279
25,850.887
7,763,230
4,979,204
5,155,659
3,395,516
2,384,463
1,923,641
1,261,407
1,359,735
1,090,147
1,212,960
945,658
736,697
684,095
508,885
491,118
477,600
428,014
251,624
2,233.190,064 1,523,204,820
—2.2
+ 1.9
—4.0
—2.9
—6.1
170,323,031
7,216,900
3.450,086
2,353,156
1,835,197
1,713,282
1,618,758
1,338,697
885,124
456,705
440.995
+22.4
+ 19.4
—1.2
—18.1
+9.0
+ 6.4
124,352,663
7,213,000
3,097,564
2,235.222
1,775,000
1.765,178
1,385,800
1,001,324
730,508
572,765
445,339
•
7,850,100
—26.4
3,868,136
3,643,915
2,495,383
2.183,787
2,099,312
1,383,004
+6.9
+ 5.6
+ 1.8
1,116,056
1,120,024
1,023,117
1,134,332
685,711
730,238
Rapids
Fargo
Falls
Colorado Springs
Pueblo
Fremont
Waterloo
Hastings
Tot. oth.West.
St. Louis
New Orleans
348i643
215,600
52,997
580,170
104,565,960
47.581,942
21,041,705
Louisville
Houston
Galveston
Richmond
144,176,382
77,792,297
24,412,967
12,536,768
19,400,000
9,895.500
Memphis
Atlanta
Fort Worth
Savannah
Nashville
Norfolk
„
Birmingham
Augusta
Jacksonville
Chattanooga
Little Rock
Mobile
Knoxville
Charleston
Oklahoma
Austin
Macon
Beaumont
Wilmington,N.C.
Vicksburg
Jackson
Meridian
7,005,262
9,832,091
16,541,593
8,432,318
7,456,420
4,400.141
4,270,334
2,714,641
3,631.286
2,875,763
2,100,000
2,513,523
1,653,483
1,600,000
2,692.535
2,600,000
1,706,893
1,600,000
665,000
912,139
542,275
700,000
460,000
—0.7
+ 1.3
+ 5.8
+ 19.1
+3.6
+26.7
—2.8
113,447,416
51,472,308
9,265,046
+ 13.5
+28.1
+31.2
+6.4
+27.3
440,460
488,328
406,680
318,503
407,138
314,545
15,176,960
12,070,561
5,290,861
7,736,227
8,852.872
5,780.693
1,990,313
800,983
1,301,913
1,100,000
680,952
588,009
712,803
508,205
231,374
575.000
13,059,074
10,230,504
9,272.237
4,903,641
6,136.524
3,395.863
2,551.870
3,760,660
6,347,447
3,800,000
2,796,942
3,724,175
1,608,769
1.552,269
1,976,017
1,271,034
940,659
1,190,000
645,529
915,459
322,979
1,117,058
219,385 Not
—2.9
+ 9.4
502,630
560,776
547,535
388.443,112
41,168,234
15,305,509
13,085,005
—9.1
934,320
391,358,369
45,249,641
17,459,936
10,731,852
5,000,000
8,289,567
11,171,860
4.419,600
3,560,298
928,492
1,730,583
1,320,000
759,061
532.413
917,330
527,139
149,644
700,000
23,079,517
%
+ 1.9
+ 2.0
+ 13.6
+ 11.3
—6.8
»
Topeka
186,945,511
190,376,419
—1.8
191.631,931
144.574,333
Clearings see ."Commercial andiMlscellaneous News."
Note.—For Canadian
Tot. Mid.West.
Cedar
$
268,199,004
27,868,200
17,465,476
15,369,981
12,782,207
9,272,204
Not Included
San Francisco
Los Angeles
Seattle
Sioux
2,154.084,064 2,460,810,948
162,071,713
Portland
Worcester
Fall River
New Bedford
Lowell
Total New
1910.
1,876,104,729 2,171,894,527
146,165,546
157,574,857
48,934,075
50,026,888
35,288,103
34,956,534
Philadelphia
Pittsburgh
Greensburg
Binghamton
ending December 10.
Inc. or
Dec.
_...
Bloomington
The following table, made up by telegraph, &c., indicates that the total
bank clearings of all clearing houses of the United States for week
ending
to-day have been $3,122,883,016, against $3,220,954,771 last week and
$3,686,810,977 the corresponding week last year.
New York
Boston
_
Quincy
Saginaw
1910.
_
....
Rockford
Canton
Akron
CLEARING-HOUSE RETURNS.
Clearings—Returns by Tdegraph.
Week ending Dec. 17.
17,810,381
17,453,129
14,264,412
8,638,096
5,774,000
4,133,373
3,845,423
2,540,902
2,119,013
2,296,125
1,570,508
1,108,198
1,134,719
1,082,343
1,351,666
710,164
925,009
908,173
643,529
736,156
582,700
560.489
416,892
454,081
350,000
414,563
337,767
324,804
203,402
30,729
597,200
Detroit
$4 20
(52 times)
CHICAGO OFFICE—Pliny Bartlett, 518 Monadnock Block; Tel. Harrison
4012
LONDON OFFICE—Edwards <fc Smith, 1 Drapers’ Gardens, E. C.
..
273,267,123
24,783,300
Cincinnati
Cleveland
Springfield, Ill
Lexington
Advertising—Per Inch Space
Transient matter per inch space (14 agate lines)
Two Months
(S times)
Standing Business Cards
Chicago
Inc. or
Dec.
1909.
$
$10 00
Terms of
NO. 2373.
Clearings at—
PUBLISHED WEEKLY.
Terms of
Railway Section
and City Section
—14.8
+ 11.6
+9.9
+ 1.8
+7 4
—6.8
—5.7
—42.0
209.802,989
$
S
257,433,228
27,069,300
14,317,325
13,408,422
12,514,886
9,070,032
5,209,900
3,117,247
3,557,692
2,093.926
1,962,515
1,905,478
1,094,324
986.066
794,368
860,287
723,985
601,660
664,510
565,000
492,552
536.603
420,728
412,207
513,463
340.652
325,000
326,471
263,481
286,500
176,345
15,310
+ 2.8
+ 1.3
+9.9
+ 15.0
—11.1
—5.5
+7.3
+ 26.2
—23.5
+78.9
+ 15.9
+33.0
+20.0
+ 11.5
—9.4
+ 28.7
+3.7
—35.3
‘
187,842,146
20,069.900
14,865,207
13,799.372
10,643,813
6,198,829
4,620.700
3,473,535
2,254,385
2.054,716
1,451,441
1,989.973
939,432
869,328
626,669
628,739
505,413
690,422
488,701
465.000
393,336
396,648
340,197
374,312
339,448
226,063
271,635
314,522
275 000
264,965
147,896
14,986
362,058,269
37,147,017
278,430,688
11,560,370
9.325.696
7,281,386
8,315,112
3,870,343
7,187,072
2,917,745
2,712.419
4,946,031
4.922,922
1,457,531
800,972
725,000
6,990.095
5,089,938
1,518,985
918,071
980,648
800,000
546,032
502,480
617,963
300,000
238,149
29,966.479
329,731
350,000
+21.7
+8.5
+8.6
+9.7
+ 17.2
+ 17.9
—O.l
—23 3
+3.4
+ 11.9
+9.6
874,597 —26.2
564,620 +62.2
249,044 + 29.3
915,951 +22.0
Included in total
15,422.334
15,058,658
7,915,500
8,513,987
7,579,481
13,768,596
8,636,829
6,332,006
4,094,394
3,770,165
2,521,028
2,694,507
2,252,961
1,695,770
2,072,536
1,424,331
1,645,852
2,042,400
2,298,237
1,033,615
1,300,000
673,449
599,488
400,653
500,000
366,059
190
In total
2,858,372 +30.3
1,360,566 + 18.2
1,300,724 + 19.4
1,462,434 +39.3
1,387,916
—8.4
1,186,235 —20.7
850,000 +40.0
131,183.519
70,366,571
24,823,582
1908.
87,695,459
40,321,601
23,062,026
13,421,768
9,828,869
9,847,822
5,826,0i3
3.017.008
2,813,201
1.688,663
1,275,520
1,127,116
1,001,280
906,571
840,967
765,000
781,252
549,851
412,465
+ 9.9
117,487,593
+ 10.6
71,322,854
20,181,300
14,641,707
15.598,285
8,226,500
7,047,497
6,582,127
6,070,917
6,444,260
4,899,185
2,722,861
2,996,141
2,352,886
2,083,370
1,671,227
1,607,007
1,765,567
1,390,048
1,565,267
1.485.015
1,373,238
711.463
965,673
653,173
402,081
—1.7
—18.7
+ 28.8
+ 25.0
—17.7
+ 29.8
+ 20.1
—2.4
+ 17.8
+ 7.5
+ 13.3
+7.7
+34.8
+ 27.7
+23.9
+ 21.3
+ 16.1
—2.8
+31.8
+ 13.2
+ 65.1
+ 23.1
—1.3
+ 52.2
+35.3
+ 40.0
+25.7
3,948,876
2,565,233
2,089,358
1.260.889
1,268,494
1,068,901
865,222
788.967
766.295
560,000
700,852
540,041
328.242
102,224,539
59,189,714
21.697,763
8,781,434
10.293,064
6,441,500
6,764,295
7,419,411
5.420,913
4,200,000
6,057,940
4,116,795
2,973.478
1,908,194
2,464,6*8
1,437,424
1.298.087
1.476.312
1,616,541
1.367,483
1,540,018
767.464
581.771
694.783
390.000
472.467
606.475
415,000
185.751.584
159.867.514
3,220.954,771 3.483,182.047
—7.5 3,177,874.900
2.273,033,274
Outside N.Y.. 1,344,850,042 1,311,288,420
+2.6 1.173.406.436
967,686.432
Total Southern
Total afi
230,943.029
+ 10.1
636.935
64,725.328
30,601,840
25.067,448
10,719,931
11,413,149
7,670,801
1594
THE CHRONICLE
[Voju
Law
OUR RAILWAY EARNINGS ISSUE.
We send to our subscribers to-day the December
number of
Department has abandoned
cuting the alleged combination as
tended to fight it in sections.
any
a
LXXXXI.
idea of
whole.
prose¬
It is in¬
“Railway Earnings” Section. In this
The bill soon to be filed is to be directed against one
publication we give the figures of earnings and ex¬ of its eighteen or
twenty divisions which the Depart¬
penses for the latest month of every operating steam ment of Justice
charges are doing business under a
railroad in the United States, big and little, which is
general head. All the commodities in the use of
required to file monthly returns with the Inter-State electricity, it is
charged, have been divided in groups
Commerce Commission at Washington—altogether and all
are controlled
by a central organization
In¬
over 800 roads or
systems, comprising an aggregate of candescent
lights are said to be controlled by one
our
.
.more
than 235,000 miles of line.
wire by another, street car motors by
third, transforming machinery by a fourth, &c.
The allegations are so sweeping and so
contrary to
the probabilities that it looks very much
as if the
Government investigators had discovered a mare’s
nest.
The fact, however, that the Government is
directing its activities in such channels is very dis¬
turbing at a time wdien the public mind is extremely
sensitive and apprehensive of' action against even
harmless and perfectly innocuous combinations.
group, copper
a
THE FINANCIAL SITUATION.
Developments have not been favorable to security
values the present week, but the market has held firm
nevertheless. The new Supreme Court appointments
strengthening the less conservative
country’s highest judicial tribunal,
though it is by no means certain that this inference
are
interpreted
as
element in the
will be found correct when the actual test
the
comes
in
awmting determination in that
Court. As it happened, however, even before the
We referred a few weeks ago to the wide
discrepan¬
accession of the new members, an unexpected decision cies shown from week to week in the figures
given out
was handed down by the Court on Monday of this
the
by
Sub-Treasury in this city wTith regard to the
week. The Court reversed the ruling made by effects of Government operations on the
money hold¬
Judge Holt in the United States Circuit Court in this ings of our Clearing-House banks and the changes
city on Oct. 26 of last year in the cases brought under as revealed in the statements of money holdings given
the Anti-Trust Law against the directors and officers out by the U. S. Treasurer at
Washington. Another
of the American Sugar Refining Co.
Judge Holt had striking instance of this kind occurred last week, and
sustained the plea of the defendants in that case to it seems desirable to refer to the matter
again because
the effect that the conspiracy charged (assisting in on the previous occasion an
explanation was vouch¬
the acquisition of the Pennsylvania Sugar Refining safed which
appeared plausible enough, but which
Co.) was not continuous and that the statute of limi¬ really failed to meet the case. It was argued that the
tations could be pleaded in bar. The Supreme Court New York banks often lose heavily to the Sub-Treas¬
now lays down the rule that a
conspiracy of the kind ury because of the custom followed by the interior
here alleged may have continuance in time, and hence banks of paying a large
part of their dues to the Gov¬
great
cases now
that the statute of limitations cannot be set up as a
ernment—such
as
the collection of internal revenue,
interest on deposits, retirement of circulation, etc.—
special plea.
The public is indifferent as to what may be the effect by drafts on their New York
correspondents in favor
of this decision in the particular case under considera¬ of the Assistant Treasurer of the United States at
tion, but it feels a deep concern in the general bearing New York. They do this, we are told, in order to
of the ruling, which apparently not merely opens wide conserve their own cash resources at home for the
the doors to trust prosecutions, but keeps them open movement of the
crops.
That such a custom prevails cannot be denied, and
continuously. Naturally the result is more or less
disturbing, particularly at a time when the whole that it might in some particular week produce wide
community is awaiting with great anxiety the deter¬ differences between the New York Sub-Treasury fig¬
mination of the suits against the American Tobacco ures and those from
Washington is of course possible;
Co. and the Standard Oil Co.
but that continuous discrepancies of this kind, occur¬
Unfortunately, too, the Administration at Washing¬ ring week after week for a long period of time, can be
ton is adding fuel to the flames.
Every week brings explained in that way taxes credulity. Those who
announcement of some contemplated new prosecution. advance such an
argument overlook entirely the fact
For instance, Thursday morning the daily papers con¬ that
if, on the one hand, the interior banks make their
tained dispatches from Washington stating that the
payments to the Government by drafts on their New
Government’s contemplated attack on the so-called York
correspondents, on the other hand they also
Electrical Trust would begin before the new year, send drafts on the U. S.
Treasury to their New York
unless present plans were changed. It was stated to
correspondents for collection. In the long run these
be the intention to file a bill in equity against one two sets of movements should balance,
especially
section of the alleged combine in a United States Court where there is such a close
correspondence between
east of the Mississippi River some time the
Government
revenues
and
Government
disbursements
present
month.
We are told the Government’s case will as exists at the
present time. The contrary theory
depend largely upon the interpretation of the patent would make New York banks out as being all the time
laws.
losers to the Sub-Treasury and never gainers.
It is stated that when action is instituted it will be
At any rate, the Washington figures on most occa¬
recognized that .this new proceeding “far eclipses the sions appear to be more nearly in acpOrd with the
.standard Oil case;
magnitude and importance.?’ actual results ’than are' the Sub-Y reasury reports.
The Government's
investigation, it is averred; lids Lgst Saturday the New York banks, acebfeting to’the
disclosed a line of attaok of such proportions that the figures collectect by us, lost $2,i00,000 net as a result
Dec. 17
THE CHRONICLE
1910.]
According to
the Sub-Treasury figures, they also lost $6,900,000 on
the Government operations with the banks. This made
apparently a total loss in cash of $9,000,000. But
the Clearing-House return, according to the actual
figures of condition, showed a cash loss of no more
than $3,865,900.
At the same time, the trust com¬
panies, with the State banks not in the Clearing-House,
reported a diminution in money holdings of $270,700.
Combining the two we get a total loss of $1,136,600,
as against the $9,000,000 loss which the banks of this
centre must have sustained if the Sub-Treasury figures
can be accepted as correctly indicating the situation.
But the Washington figures for the same week recorded
a loss to the banks of only $2,600,000.
Substituting
these in place of the Sub-Treasury figures, the loss for
the week was only $4,700,000 instead of $9,000,000,
and this comes very close to the $4,136,000 decrease
actually shown in Saturday’s returns of the ClearingHouse banks and the trust companies.
of the interior movement of currency.
The several
rumors
Chief Justice Fuller
as
to the
ended
successor
of the late
Monday by the ap¬
pointment of Justice White of Louisiana to the posi¬
tion and the appointment was promptly confirmed
without
were
reference to
on
committee.
Justice White is
appointed to the Court by
Mr. Cleveland in 1894; in age he is ranked by three
of his associates, but in length of service by only one.
now
65 years
old, and
was
The two nominations for Associate
Members, that of
Willis Van Levanter of Indiana, a former Chief Jus¬
tice in Wyoming and now on the bench of the Federal
Circuit Court, and Joseph R. Lamar of Georgia, a
former Justice of the Supreme Court of that State,
were favorably passed upon in the Senate on Thursday
thus restoring the full number.
,
These
of
1595
corporations, railroad or otherwise, because
they may be doing an inter-State commerce business”;
he also deemed the doctrine that Congress may em¬
brace within its regulative power “the ownership of
property” whenever Congress may think that “a par¬
ticular character of ownership
may restrain
commerce between the States or create a monopoly
thereof,” to be “in conflict with the most elementary
conceptions of the rights of property.” Justice
Holmes, with concurrence of the three, believed the
tendency of the majority view to be to make eternal
“the bellum omnium contra omnes,” and to “disin¬
tegrate society” in an “attempt to reconstruct it.”
Reference to the past does not disclose the future,
but it warrants faith that lasting principles will hold.
State
.
.
Mr. McAdoo has
.
withdrawn his
subway offer;
precisely stated, he has declined to keep it open
after the 15th, the date he had named.
The Com¬
mission’s tri-borough scheme being apparently .dead,
no definite offer now remains except the latest by the
Interborough. There is no feeling for Mr. McAdoo
except that of respectful admiration for what he has
accomplished in New York by a combination of per¬
sonal energy and enthusiasm, with clear common sense
and real business foresight, after coming here almost
a stranger.
He does not distinctly take his leave of
the subway field, and it is not hard to believe that such
a vast and growing need may suggest to him, sooner
or later, some further share in meeting it.
Yet one reason he gives for retiring just now strikes
us as neither well taken nor timely.
“The issue (he
says) is an independent system on the one hand or a
monopoly on the other.” It suits'the rather heated
feelings of some people to talk of monopoly and of the
great need of introducing competition; yet a moment’s
consideration shows that competition in the strict
sense is naturally impossible in subways.
If two sepa¬
now
more
judicial experience, and Justice
particularly so; in this fact may be found a
feeling of reassurance at the start. No man who is rate steam roads were in existence between New York
in any degree fit to sit on the bench of an appellate and Boston, they would be competitive on paper and
tribunal can be long there without insensibly becoming might seem such at a superficial glance; yet, while the
conformed to what may bo called the judicial atmos¬ through traveler could take either, the resident at
phere, which involves deliberation, poise, the strong in¬ intermediate points would have to use the one w’hich
In New York subways must “occupy”
clination to stand by the decisions that have the sanc¬ reached him.
tion of long time and a remoteness from influence by streets by being underneath them, and only one can
the passions of the hour.
This is almost the better be on the line of any street; hence, if there were several
part of experience, and faith in this is the best ground lines north and south and reaching the same terminal
for faith that the high courts may be trusted as being points, the through travel (which is always small)
true to fact and sound in justice.
Squarely opposed to could have a choice; but the passenger to or from any
this is the latter-day notion of progressiveness, which intermediate point must take the line nearest him.
would choose judges with reference to specific view’s
How, then, could an “independent” line possibly
serve any area
that are to please the present popular desire.
except that contiguous to it; and how
The most notable case before Justice White was can any line avoid being a “monopoly” in that the use
that of the Northern Securities Co., now eight years past, of it by the persons to which it is most convenient is
in which, with Justices Peckham and Holmes and Chief practically compulsory? The system we now have is
Justice Harlan, he made the minority of four and wrote certainly “independent”—so much so that it is accused
the dissenting opinion.
He did not concur with the of the high crimes of greed and indifference, as if its
five that whether the combination complained of own self-preservation did not naturally forbid its
did in fact operate in restraint of trade, or had any in¬ being guilty of either.
As for “monopoly,” this term
tent to do so, was immaterial, since the possession of is tossed about very lightly.
Forty years ago, during
power to do the obnoxious act was sufficient and was transient disturbance by ice and fog, Brooklyn resi¬
under inhibition of the law; the minority position dents used to declare that somebody must do some¬
would have drawn a lasting and wholesome distinc¬ thing and positively there must be a bridge; the ferries
tion .between harmless and harmful restraints. Jus¬ were accused then as a monopoly and now bridges and
tice, White deemed unsound the proposition that the subways have destroyed them, substituting another
regulative power of Congress “extends to the controll¬ means which is independent, though not competitive;
ing, of the acquisition and ownership of stock in and still the people are dissatisfied.
'}
ibf)J?.’
'
'
White is
are
men
,
'it
'
•
1596
THE
CHRONICLE
[VOL.
LXXXXI.
If the
present subway is not “independent,” can
On Monday next some
$3,000,000 South African
any other be more so?
If it is a monopoly, it is cer¬ gold will arrive in London and
preliminary negotiations
tainly a regulated one, since it is a piece of city prop¬ are reported to have been
opened by one or two New
erty, operated under lease. A “city” line is demanded, York banking
houses, with a view to securing part of
and it seems hard to make people realize that this is the
offering. Demand sterling, through heavy selling
what we already have, and nothing else than that is of bills from
two sources, on Tuesday afternoon fell to
proposed. The. operating company is accused be¬ 4 84%, and this naturally directed attention to the
the line is
overcrowded, although the company possibility of gold imports. There was,
however, an
selfish inducement to render the utmost immediate recovery of %c.
per pound in sterling, and
possible service. The sole relief is through more sub¬ since then business has been done between 4
85% and
way building, which is offered on the old terms, only 4 85%.
On this basis a movement could no doubt be
cause
has every
made
considerably more favorable to the lessor. Less arranged did conditions warrant it, but bankers are
impatience and more reasoning consideration agreed that less than a month from now
money will be
on part of the
public would conduce to a wise enlarge¬ a drug in the local market and that there is conse¬
ment of subway facilities and would
bring it soonest
quently no occasion to resort to special measures
to import the metal.
Furthermore, the Bank of
Comfortable monetary conditions continue to
pre¬ England will in all probability again pay more than
vail throughout Europe and
the United States. the Mint price for Monday’s offering in
order to keep it
Private discounts in London
fretful
.
have declined to
3%%, at home.
or 1%% below the Bank of
England’s minimum, but
What may happen in the
early part of 1911 is
the Governors, no doubt because of a loss of
$2,750,000 another matter. The exchanges may then move so
in bullion during the week, did not on
Thursday lower strongly in favor of New York as to force London to
the Bank rate.
The reserve fell to 50% of
liabilities, part with a considerable quantity of specie. Of even
yet this figure is fully 7% above the average reported more importance than our
foreign trade returns in
in mid-December of recent
Had London not considering the outlook is the more
years.
friendly attitude
been called upon to forward
currency to Provincial of European investors toward American securities.
districts for holiday purposes, the Bank’s stock of
gold We are informed by the principal international banking
would have increased
sufficiently to justify a reduction firms that they are already doing a considerable volume
in the rate to 4%.
By bidding a small premium for of business with foreign customers in bonds and short¬
the new gold sold in the
open market on Monday, the term notes, and that the New York
City loan shortly to
Bank clearly showed'that it desires to
keep its metallic be floated, as well as the impending railroad issues,
resources intact and that it has no wish to
encourage will be‘ generously subscribed for abroad.
Sales of
withdrawals for shipment to America—a movement securities
“make” exchange very rapidly, so that it is
that came within measurable distance of realization
quite within the range of possibility that gold will have
through a break in demand sterling on Tuesday to to be sent in
payment of these investments. Foreign
below 4 85. Paris and other Continental
centres, trade during November, as in October, resulted in
with the exception of Berlin, are also well
supplied a large balance of exports over imports. For the
with money to tide them over the
December-January eleven months of the current calendar year, however,
requirements. In Berlin discounts have advanced to the balance of
exports is the lowest recorded in many
within a narrow margin of the Reichsbank’s minimum
years, owing, of course, to the abnormal expansion in
of 5%, but efforts may be exerted to avoid the
declara¬ imports.
Had not Europe been a purchaser of our
tion of a higher quotation, since the tension will unsecurities, sterling exchange, instead of ruling near the
question ably relax after the newT year. In New York
gold-import level, would ere now have doubtless
as well as in other American cities
the tendency in reached a
point leading to gold exports. As it is,
time money and commercial
paper rates has been no important inflow of the
precious metal is expected
towards easiness.
There is very little demand
locally by those in closest touch with the international finan¬
for long-term accommodation at
4%, although some cial position.
business is done in January maturities at that
figure,
and occasionally at a fraction
higher. Requirements
Andrew Carnegie’s creation of the Carnegie Peace
for
dividend
disbursements have been
factor in
in the call money
a
Fund
by the donation of $10,000,000 5% bonds of a
$11,500,000 to a board of trustees headed by
division; the ruling rate has been just below 33/2%, United States Senator Elihu
Root, and including men
but this is by no means an excessive
charge for day-to- notable in many walks of life, places this country in
day facilities at the beginning of the final fortnight the forefront of a movement that in future more than
of the year.
A distinctly encouraging development in the past
should be the companion of our advancing
has been a broadening of the
inquiry, especially from civilization. The founder’s object, as expressed by
out of town, for mercantile bills on a
5% basis, while himself, is “to hasten the abolition of international
war,
transactions have been put through for local account
the foulest blot upon our civilization,” and he believes
at a minimum of
4%% for choice single-name bills. that “the shortest and easiest path to peace” lies in
Stock Exchange houses are
borrowing little, the flota¬ adopting this platform of President Taft: “I have
tion of new securities is being restricted until the new
noticed exceptions in our arbitration treaties, as to
year opens, industry as a rule is quiet and mercantile reference of
questions of national honor to courts of
establishments are reducing their offerings of bills so
arbitration.
Personally I do not see any more reason
as to finish the
year with as little outstanding indebted¬
why matters of national honor should not be referred
ness
as
possible. Under such circumstances the to a court of arbitration than matters of
property or
endeavors of certain parties to draw gold from London
of national proprietorship.”
Mr. Carnegie quoted
maintaining last week’s firmness
do not excite keen interest.
value of
another statement
by President Taft, made before the
Deo. 17 1910.
THE CHRONICLE
1597
Republics last April, place them on the Island of Villogainon. Other vessels
to the effect that “we twenty-one republics cannot of the fleet were sent to sea under sealed orders with
afford to have any two or any three of us quarrel; Mr. loyal officers in command.
The cables ominously add
that “it is reported that the breech-blocks of the guns
Carnegie and I will not be satisfied until all of us can
intervene by proper measures to suppress a quarrel of the Dreadnoughts are in the possession of Govern¬
between any other two.”
Mr. Carnegie dwelt upon ment officials.” These warships, as well as the
the value of securing an arbitration treaty between battleship Deodora and the scoutship Bahia, are being
Great Britain and the United States, and declared disarmed and the crews are virtually prisoners. The
that “if the English-speaking race adopts such a treaty, whole affair is a reminder that the administration of
affairs in these Southern republics is beset with diffi¬
we shall not have to wait long fo r other nations to
culties peculiar to that part of the world. Brazilian
join.
Financiers have always recognized the economic securities, which are largely held in Britain, have suf¬
and other advantages that would accrue from the re¬ fered, not so much because of the actual damage done,
stricting of naval and military expansion; but until as because of the short-sighted policy of the Govern¬
comparatively recently the feasibility of arresting the ment in suppressing accurate news of the develop¬
frenzied competition between the leading Powers ments, a policy that can be carried to the utmost
has been seriously doubted. Even to-day many do length now that a state of martial law prevails.
not believe anything tangible can be achieved along
In Mexico the loyal troops have succeeded in routing
the lines propounded by Andrew Carnegie. But con¬
verts to the peace movement are multiplying, arbitra¬ the revolutionaries in eveiy district except the neigh¬
tion has accomplished much within the last five years, borhood of Chihuahua, and here also a sanguinary
the naval burdens of such nations as Britain and Ger¬ battle, fought last Sunday, is reported to have broken
This fight occurred at the
many are becoming unbearable, the growing spirit the back of the resistance.
of democracy is antagonistic to the carnage of war, village of Cerro Prieto, about 100 miles west of Chi¬
In it the rebels sustained a large number of
and the moral revolt against international bloodshed huahua.
is becoming stronger and stronger as the conquests casualties, including over 70 killed, while the Federals,
of progress knit together the peoples of the earth and according to the reports to the Mexican War Depart¬
transform the theory of the brotherhood of man into ment, lost only 2 officers and 12 men. United States
Ambassador Wilson informed our State Department
a reality.
The United States occupies a pre-eminently favorable that the Government troops completely routed the
place for successfully propagating the campaign to rebels and captured the city of Guerrero. He added:
bring peace among the nations, and in President Taft “This cleared the State of Chihuahua and other parts
the movement has a whole-souled advocate who in of the country of all organized resistance to the Gov¬
other ways has demonstrated that assumed points of ernment.” The Mexican troops were under the com¬
“honor” of petty significance—in plain language, mand of General Navarro, who has announced that
pride—cannot deter him from taking the initiative he has orders to put down the insurrection with a
to establish closer relations with other countries. The ruthless hand and that those who persist in opposing
millenium is not dawning, swords are not yet ready the Government must not expect further leniency.
to be beaten into plowshares and standing armies There can be no doubt that the Diaz Administration
and navies are not about to be disbanded; but that the has the situation under absolute control and that
world is turning away from war and is bent upon nothing more serious than isolated guerilla attacks
ushering in an era of peace no one can fail to realize. will now be encountered. One of these skirmishes
The extension of the principle of arbitration is the first was yesterday reported to have occurred near San
practical step towards this end, and the Carnegie Fund Andres, thirty miles east of Cerro Prieto, on Thurs¬
will facilitate its accomplishment.
day.
International Bureau of American
The Brazilian Government,
having been browbeaten
Polling in English constituencies will end to-day,
into granting all the demands of the marines who re¬ but at a few places in Scotland and Ireland the voting
cently mutinied on board the country’s new Dread¬ will not take place until Monday. The final results
noughts, has been called upon, not illogically, to face are not awaited with great interest, inasmuch as it has
another outburst of insubordination among the naval already been strikingly demonstrated that the voters
forces.
A battalion of the marine corps numbering have not changed their party allegiance to any appre¬
Whatever their professions of satis¬
about 600 men mutinied in the garrison on Cobra ciable extent.
Island. But on this occasion the Government did faction, the leaders on both sides are unquestionably
not quietly submit to dictation from the mutineers. keenly disappointed over the results.
The latest
returns
available
give the state of the polling to date
Instead, it ordered land batteries and warships to
as
follows:
Liberals, 260; Labor, 42; Nationalists, 65;
vigorously bombard the island, and so effective was
the attack that about 200 were killed in the fortress, Independent Nationalists, 10—total, 377; Unionists,
while the casualties among citizens who watched the 264. The coalition Government, therefore, has a
bombardment were not very numerous. This oc¬ majority of 113 over the Opposition. This still leaves
curred last Saturday, but it was not until Monday that the balance of power wholly in the hands of John
the rebellious sailors formally surrendered. Those Redmond and his followers, a position not palatable
who escaped with their lives were all taken prisoners. to Englishmen and Scotsmen. According to a declara¬
Martial law was declared for 30 days, but since then tion by Chancellor Lloyd-George on Thursday, the
conditions in Rio de Janeiro have become normal. carrying of the veto bill will be “only the beginning
It was considered advisable to remove the crews of of the Liberal program,” the completion of which
he Dreadnoughts Sao Paulo and Minas Geraes and would remove “the last vestige of inequality between
1598
the
two
THE CHRONICLE
parties.”
The general belief, however, is
[VOL.
LXXXXI.
Los
Angeles, Pittsburgh, Portland, Ore., and Balti¬
more, exhibit very satisfactory gains, an even greater
number, including St. Louis, San Francisco, Seattle,
Philadelphia, Newark, &c., show losses, leaving the
probability of resulting in an amicable arrangement general result a decrease of 5.1%, as compared with
for the reform of the House of Lords. The new Parlia¬ 1909.
Contrasted with 1908, there is a decline of 3%.
that the close outcome of the election will leave both
sides in a chastened frame of mind and that the
abortive conference may be renewed with a greater
ment will meet
on
Jan. 31.
For the eleven months of the calendar year 1910
the
figures for the 106 cities reveal
falling off of 5.6%
expansion in the exports of manufactures from the 1909 record total (764 millions of dollars,
and miscellaneous items, as compared with a
year comparing with 809 millions), but contrasted with
ago, is the noteworthy feature of our foreign trade 190S there is an increase of
31.5%, with a gain over
statement for Nov. 1910.
The total outward move¬ 1907 of 14%.
Greater New York’s operations fall
ment of merchandise for the month is
given as $206,- behind those of 1909 by 20.3%, but exceed 1908 and
354,741, contrasting with $193,998,678 for the same 1907 by 23.5% and 10.8%,
respectively. Outside of
period of 1909, or a gain of approximately 12J^ this city gains-are shown in all cases—0.7%
compared
million dollars. This increase is the more
noteworthy with last year, 34.5% with 1908 and 15.2% with
as the
shipments of the so-called leading staples did 1907.
not contribute to the gain, their
aggregate being
All developments in the
practically the same in both years, cotton alone
European financial centres
showing any augmentation. Breadstuffs (due wholly indicate that no stringency will arise at the
year-end
to meagre exports of wheat) suffered a loss of 6 million
period. During the current week another decline in
dollars from last year, and were, moreover, the lowest
private discounts has occurred in London. Paris lias
of any year since 1904.
The diminishing tendency in remained easy and only fractional advances have oc¬
the outflow of provisions, so
long apparent, is still in curred at Berlin, Amsterdam and.Brussels. So plenti¬
evidence, the November total having been the smallest ful has money become in London that call loans have
for that month in many years.
Cattle also shows a been made at 2%, while bills are negotiable for both
slight decline, and in mineral oils there was a drop 60 and 90 days at 3 5-16(5 348%, no difference
being
of over 1^2 millions.
Cotton nearly offsets these losses made whether bills are offered on the
spot or to arrive.
with an excess of
millions, only a very moderate por¬ This weakness had stimulated discussion of a possible
tion of which arises from the higher
price. For the eleven reduction in the Bank of England rate on Thursday,
months of the calendar
year the aggregate exports of but as a decrease in reserve was
recorded, the Gover¬
merchandise covered a value of
$1,636,990,585, or 81 nors decided to leave the minimum at 4Vo%. The
millions more than in 1909, about 72 millions
greater disparity between tin1 open market and the official
than in 1908, but was exceeded
by 79}f> millions in 1907, quotation did not induce borrowers to pay off loans
the record year.
at the Bank,
showing that a lowering of the Bank
Imports of merchandise in November, on the other- charge was not imperative. Paris continues to
carry
hand, were less than for the same period a year ago, an abundant supply of money. The Bank of France
the inflow of all descriptions of goods
reaching a value on Thursday recorded a nominal loss ($45,000) in gold,
of $130,361,388, against
$140,508,773 in 1909, but but a gain of $410,000 in silver, while note circulation
exceeding the 1908 total by 26^ millions of dollars. was reduced $4,420,000, discounts fell
$9,050,000,
For the period since Jan. 1
they have a value of general deposits decreased $5,710,000 and advances
$1,425,770,128, the eleven months’ record, showing to the Treasury increased $2,470,000. The
private
an excess of 89 millions over 1909 and 421
millions over discount rate ruled at 2^8% until
yesterday, when
1908.
The net balance of exports for November there was a
rise to 2%%; but no change in the Bank
reaches $75,993,353,,
comparing with $53,489,905 last rate of 3% is impending. In Germany there is
a
A further
57 1-3 millions in 1908 and 93millions in an active demand for accommodation and interest
1907, and for the eleven months is $211,220,457, • rates there will
probably advance materially between
against $218,944,450 in 1909 and $559,551,015 (the now and the opening of
January. This week there
record) and $385,378,373 respectively in 1908 and has been a rise to
4^8% for spot bills and to 4%% for
year,
1907.
bills to
arrive, against 44s% and 4 46%, respectively,
At Amsterdam discounts have moved
up 4s of 1%, to 3%%, while at Brussels quotations
have also been firmer, the charge being now
3%%.
There has been a broader inquiry for American bonds
both from England and the Continent of
Europe, a not
unnatural sequence to low money rates.
The Bank of England, as our special London cor¬
respondent informs us by cable, is sending gold to the
provinces faster than it is making purchases in the
open market
Monday’s offering of new South African
bars went as follows: £300,000 to Germany,
£200,000
to the Bank of England and £200,000 to India.
The
competition was keen enough to carry the price above
the minimum, suggesting that London is
antagonize
to golfi exports to New* York at this juncture.
Qn
Thursday the weekly statement did not quite fulfill
expectations, and no reduction, wa^ made
the. djsa
Building construction operations in Nov. 1910
showed, as during most preceding months of the year,
a smaller
aggregate of contemplated expenditure than
for the corresponding period of 1909.
Out of a total
of 106 cities included in our
compilation, no less than
62 record losses from
a
year ago,
and the combined
prospective outlay at $63,425,362 compares with
$66,476,693, or a decline of 4.6%. Contrasted with
the month of 1908 there is a decrease of
1.6%. As
compared with 1907, however, there is an augmenta¬
tion of 83.3%. Operations in Greater New
York, as
a whole, show
only a small loss (3.1%) from 1909, but
thk is due entirely to the phenomenal
gain of 184.6%
in (the Bronx; Manhattan and Brooklyn
boroughs each j
records a large falling off),. ; .Outside of New Yorlt, while !
such leading-cities as Chicago, Cleveland, Kansas
City,!
week ago.
.
1599
THE CHRONICLE
Deo. 17 1910.1
has been done at
5%. Next month paper brokers
look for a more active demand, as it is anticipated
a decrease of £549,593 was recorded, bringing the total
stock on hand down to £35,088,033, which, however, that collateral loan rates will then decline to unprofit¬
Incidentally the low money rates of the
is the best recorded at this season in recent years. able levels.
current
Circulation was reduced enough to modify the total re¬
year have not prevented certain down-town
banks
from
serve loss to £347,097.
making very fine profits, as has been dem¬
Loans were reduced merely
onstrated
by the declaration of large extra dividends
£18,067, while an increase of £167,012 in ordinary
deposits was accompanied by a decrease of £248,110 by several national banks, notably the Chase and
in public deposits. The final result was that the pro¬ the Liberty.
Call money on Monday ruled at 3%%, which also
portion of reserve to liabilities declined from 50.59%
last week to 49.98% this week, a figure still far above was the maximum, with 3% the minimum.
On Tues¬
the average for the middle of December.
Since the day the renewals were again made at 3%%, but 2%%
weekly returns were compiled, the Bank has purchased was named before the close. A few loans were made
£103,000 gold in the open market. No predictions can on Wednesday at 3%%> but the prevailing rate was
be indulged in with any degree of confidence as to the 3%%, which also was the case on Thursday.
Yes¬
probable action of the Bank directors when they meet terday the range was 3% to 3%%> while the final
next Thursday to consider the discount rate; all that loan of the week was made at 3%.
The average
can be said now is that to lower the minimum within
ruling rate has been a shade under 3%%- Time
ten days of the end of the year would be most unusual. money may be quoted at 4 to 434% f°r thirty days,
As already stated, in its weekly return the Bank of 3% to 4% for sixty days and 4% for three, four, five
England showed a loss of £549,593 bullion, and it held and six months. Prime four to six months’ single¬
£35,088,033 at the close of the week. Our correspond¬ name bills and 60 to 90 days’ endorsed bills receivable
ent further advises us that the loss was due to heavy usually range from 4% to 5%, while less desirable
shipments to the interior of Great Britain, which were names are quoted 5J4 to 5%%.
only in part offset by purchases in the open market.
In responsible foreign exchange circles complaints
Imports and exports were almost nominal and about
balanced. The details of the movement into and out are rife concerning the conditions brought about
of the Bank were as follows: Imports, £316,000 (of by what is described as undesirable competition.
which £310,000 bought in the open market and £6,000 It is alleged that the financing of our export and
received from Australia); exports, £8,000 to Portugal, import trade no longer yields a reasonable profit.
and shipments of £858,000 net to the interior of Great Time was when experienced operators could lay their
Britain.
exchange plans months in advance with tolerable
certainty that events would follow a normal course.
The local money market is wholly without new But to-day the whole exchange market can be, and
feature.
Day after day the quotation for time loans not infrequently is, suddenly upset by more or less
is named at 4% for nearly all periods. Call rates have reckless speculation by operators having access to large
fluctuated within a narrow range and discounts have amounts of capital or credit. It is useless to count
been quiet at the slightest decline from last week’s upon exchange moving in a natural way in sympathy
range.
Money brokers report that business was never with seasonable movements of merchandise and
so dull in the middle of December as it is this year/ monetary developments.
It is stated, for example,
Were the demand of average volume, call rates would that the sharp decline in rates during the current
probably have advanced considerably this week, seeing month has been in no small measure due to the
that the surplus reserve reported last Saturday was unloading of a huge quantity of exchange carried by
only $5,711,825, and that since then the banks have a powerful institution whose management have decided
apparently lost cash to the Sub-Treasury and have that the money thus utilized can be employed more
transferred considerable sums to the Pacific Coast. In profitably. It is also stated that the downward move¬
addition there have been several offerings of new ment has been aggravated by an international banking
securities, while dividend payments on Thursday firm closely identified with stock market speculation;
were quite heavy.
On no day, however, did day-to- this house has periodically depressed the market by
day loans command more than 3%% and transactions pressing demand sterling for sale only to cover later on
were made daily at 3% or less.
The majority of by means of purchases of cable transfers. So many
commission houses are carrying so little stock for cus¬ people now handle exchange that those having either
tomers that their supplies of time money are ample to buy or sell can, by endless “shopping,” play one
to carry them over the turn of the year without hav¬ firm against another until extremely favorable terms
ing recourse to call facilities. A few firms have bor¬ can be secured. Here it may pertinently be remarked
rowed moderate amounts for 30 days at 4% to 434% that two of the principal international banking houses
and others have taken six months’ money at 4%. in New York which formerly did a huge volume of
For other periods scarcely any business has been done. exchange business now confine their operations almost
Efforts to obtain 60-day loans at 3%% have not usually exclusively to transactions incidental to their own
eount rate.
Instead of
been successful.
found that bills
an
increase in bullion
Turning to commercial
are
somewhat
scarcer
on
hand,
paper,
it is-
than they have
ness
financial needs.
The notable incident this week
was
the temporary
postponing collapse in sight drafts to 4 84% on Tuesday and the
new offerings until their accounts for the current year
equally abrupt recovery to 4 85%, before trading
hk^re been balanced. The consequence is that dis¬ ceased for the night.- The Upward movement was
counts
have weakened. ‘ Exceptionally attractive again in evidence on Wednesday and Thursday‘ Abut
sitigle nahies as well as bills receivable have been placed yesterday the tone wasT slightly easier. Whereas 'gold
at* as low'as 4%%; bub most of the out-of-towii bush' imports were regarded as assured when Quotations tfrere
been heretofore.
The best drawers
are
1600
THE CHRONICLE
at the low
level, it is now considered
doubtful if engage¬
ments will be made in the
open market on
While it is true that
Europeans are buying
this
France
....
radically, the influx
Italy
Netherl’ds
....
grain bills is only normal, and finance bills are not
being drawn. November’s export balance of almost
$76,000,000 is unlikely to be followed by similar results
this month, although
December usually witnesses a
considerable excess of exports. It is a
perilous as
well as a useless
undertaking to attempt to forecast
how exchanges will fluctuate in the
closing weeks of the
Nat.Belg..
Sweden
Swltzert’d.
_.
Norway
.
.
lxxxxi.
Dec. 16 1909.
Gold.
Silver.
Total.
Gold.
Silver.
£
£
£
£
£
England.. 35,088,033
131,455,640
Germany., 36,513,800
Russia
148,082,000
A us.-Hun. 55,433.000
Spain
16,410,000
market, the remittances called for towards the
end of December are
always extensive. The receipts
of cotton bills will now dwindle
of
Dec. 15 1910.
Banks of
Monday.
bonds in
[Yol.
Total.
£
35,088,033 34,509,728
33,086,880 164,542.520 141,414,480 35,725,560
13,541,000 50,054,800 37.479,100 11,802,850
6,190,000 154,272,000 141.448,000
6,870,000
11,980,000 67.413,000 56,990,000 12,227,000
30,639,000 47.049,000 16,106,000 30,778,000
39,214.000
3,450,000 42,664,000 38,480,000
3,990,000
10,258,000
1,928,600 12,186,600 10,081,000
2,840,900
5,505,333
2,752,667
8,258,000
4.207,333
2.103,667
4,475.000
4,475.000
4,370,000
6,330,000
6,330,000
5,003,000
1,785,000
1,785,000
1,685,000
34.509,728
177,140,040
49.281,950
148,318,000
69,217,000
46.884,000
42,470,000
12.921,900
6,311,000
4,370,000
5,003,000
1,685.000
Total week 490.549,806 103.568.147 594,117,953
491,773,641 106,337.977 598,111,618
Prev. week 491,100,846 103,000,080 594,100,926
493,065,350 106,798.423 599,863,773
OFFICIAL WASHINGTON AND THE
UWAR SPIRIT
The so-called “secret
army report,” submitted this
week by the Secretary of War to the House of
Repre¬
year.
Compared with Friday of last week, sterling ex¬
change on Saturday was unchanged on the basis of
sentatives, then withdrawn by him, then allowed to
4 8530@4 8535 for demand and 4
8575 @4 8580 for find
publicity in the newspapers, attracted more at¬
sight drafts; sixty days was quoted at 4 82@4 8215. tention than
might otherwise have been awarded to it
Demand eased to 4 8520@4 8530 on
Monday and cable because of the peculiar incidents which marked its
ap¬
transfers to 4 8560 @4 8570.
On Tuesday demand pearance. It is assumed that
President Taft ques¬
broke in the afternoon to 4
84%, but there was a tioned the wisdom of
sharp recovery before the close, so that final rates unless the House could submitting the report at all
keep it secret—this because of
showed little change; sixty
days were lower at 4 82 @ what is described as the
disquieting nature of its dis¬
8540 on cussion of our present army situation. The somewhat
Wednesday, cable transfers to 4 8575@4 8580-and peculiar result seems to have been
that the House did
sixty days to 4 8215 @4 8225. Demand on Thursday not
document
at all, but that the
officially receive the
was
quoted at 4 8540@4 8545, cable transfers at
newspapers did.
We
agree that publication of alarm¬
4 8580 @4 8585 and
sixty days at 4 8215 @4 8225. ist discussions of our
military resources may be of
On Friday there was a
relapse of about 10 points, questionable wisdom. In older
times, at any rate,
demand closing at 4 8530 @4 8535 and cable
transfers a prudent government would
greatly have disliked
at 4 8560@4 8565.
to allow a rival State to learn of
misgivings which ex¬
The following shows the
daily posted rates for isted in such directions. But we cannot
profess to be
sterling exchange by some of the leading drawers.
greatly disturbed
4 8210.
Demand
advanced
4 8535 @4
to
by this particular publicity episode,
trumpeting forth of the dire needs for more
men, more ships, more money, with predictions
of
national ruin if they are not
met, has become so regu¬
lar an incident of every
legislative discussion of the
matter all over the world that
Secretary Dickinson
may be said merely to have followed professional ex¬
ample in the matter.
As for the report itself, we
may briefly say that the
Secretary of War concludes that “this country cannot,
since the
Fri..
Mon.,
Dec.
Brown
Bros. & Co
Kidder, Peabody & Co
Bank of British
*7- North
America
Bank of
Montreal
Canadian Bank
of Commerce
Heidelbach, Ickelheimer & Co.
Lazard
Freres
J60 days
Sight..
J60 days
-\Sight.j 60 days
-\SightJ60 days
-\Slght..
/60 days
-\Sight-
.
The market closed
60
Thurs., 'Fri.,
13 Dec.
83
83
83
86**
83**
86**
83
83
86** !
86**
83
83
86
86**
86**
86**
83
83**
86**
83
87
83
86 **
83 H
80**
83
86**
(Sight.. 4 86
160 days 4 83**
(Sight.. 4 86**
.
Wed.,
12 Dec.
/ 60 days
83
.(Sight..
86**
160 days 4 82**
Merchants’ Bank
of Canada
4
4
4
4
4
4
4
4
4
4
4
4
Tries.,
9 Dec.
86**
83
83
86
83**
86**
83**
86**
83
14 Dec.
83
86 H
16
83
86
83
86
83
86
83**
86**
83**
86**
83**
86**
83**
86**
83**
86**
83**
86**
83
86**
15 Dec.
86**
83
86**
83
86**
83
83
83
86**
82*
86**
82*
86**
82*
86**
82 **
82**
86
86
86
83**
86**
83**
86**
83**
86**
86
86
83**
83**
86**
86 J*
in
Friday at 4 8220@4 8230 for
days, 4 8530@4 8540 for demand and 4 8565@
on
4 8575 for cables.
far
so
a
its land forces are concerned, be considered
state of readiness for defence or to
as
repel invasion”;
from which he arrives at the further deduction that
instead of the present regular army of
64,000 men and
militia force of 86,200, we must have for a minimum a.
trained body of troops, on the Atlantic and Gulf
Commercial on banks was quoted
81% @4 82% and documents for payment 4 81%
@4 81%. Cotton for payment ranged from 4 80%
@ coasts, amounting to 450,000, with perhaps an
equal
4 80%, grain for
payment from 4 81% @4 81%.
number on the Pacific. All this is in addition to
at 4
The
following gives the week's
to and from the interior
Currency
_
Total
.
r• • • r••
gold and legal tenders
by the New York banks.
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Week ending Dec. 16 1910.
CnM
the
movement of
money
.-
*
man
the fortifications.
are
The
for the
rigid reorganization of the militia
Net Interior
Movement.
*9,179,000
1,494,000
*6.324.000 Gain *2,855,000
967,000 Gain
527.000
*10.673,000
*7,291,000 Gain *3,382,000
as
follows.
national
and the formation of
who have served their
from the men
time in the National Guard.
Naturally, the Secretary
also wishes extensive and immediate increase in ac¬
a
Wijbh the Sub-Treasury operations the result is
troops required to
further recommendations of the document
reserve
cumulated army stores and fortifications.
Considered in the light of recent events the world
over, Mr. Dickinson’s letter strikes us as being of chief
interest in that it illustrates a state of mind. When
seriously discussed, his new budget of recommendations
would be explained in one of two
ways—either as
Banks’ interior movement, as above.
*10.673,000
*7.291.000 Gain *3,382.000
Sub-Treasury Operations...........
30,400.000
showing
that
the
times
have
so
far
31.800 000 Loss
1,400.000
changed in this
Total gold and legal tenders-..---*41,073.000
country that the protection which was adequate in
*39,091,000jGaln *1,982,000
previous years is no longer sufficient, or, second, that
The following table indicates the amount of
bullion the United States is
delinquent in not joining thein the principal
European banks.
European movement for enormous increase in land
:
Week ending Dec. 16 1910.
Into
Banks
Out of
Banks.
Net Change in
Bank Holdings.
Deo. 17
1910.]
armament, as it has already joined the European
movement for indefinite naval expansion.
Now it
doubtless may
1601
THE CHRONICLE
be argued that since our population is
novel in purpose and
character that it is not very easy to discuss at the out¬
set just what form the administration of the trust will
take.
Mr. Carnegie himself seems to hesitate in out¬
lining actual policies; he writes to the trustees that
“lines of future action cannot be wisely laid down,”
and that, “having full confidence in my trustees, I
report.”
Mr. Carnegie’s gift is
so
larger than it was a decade or two ago, and since there
are larger interests to protect, the military equipment
ought to expand in proportion. As to this considera¬
tion, however, we are bound to say that there is noth¬
ing in Secretary Dickinson's letter which might not leave to them the widest discretion as to the measures
have been said with equal force in 1900 or 1890 or and policy they shall from time to time adopt.”
We shall soon hear much discussion as to the proba¬
He does not argue primarily from the fact
1880.
that the interests needing protection have increased, ble measures to be adopted in fulfilling this interesting
It is natural to suppose that activities of the
but merely from the flat proposition that foreign ar¬ trust.
new trustees would largely take the form of dissemi¬
mies could invade us.
But surely they could have done as much twenty nation of literature in the interests of international
years ago.
If, again, we are asked to accept merely peace, and perhaps of employing competent public
the argument that other countries are moving ahead speakers to impress the cause on the people of the
This will do much in contributing to
in their land armaments, and that, therefore, we also various States.
must move ahead or lose the race, it should be answered an effective campaign on education.
It will, at all
that to concede this argument is to take the fatal events, be vastly more efficient than could otherwise
step. It is this notion, first of matching one another possibly be the case, because of the recognition by all
and next of suddenly over-reaching one another in thoughtful public men of the frightful character of the
such matters, which has nvolved the military prob¬ fiscal problem in which the present policy of arma¬
lem of the European States in its present hopeless ments is entangling the great nations of the world.
It is easy for war ministers at Berlin, at London or at
confusion.
To us the discouraging and illogical part of this Washington to draw up plans for doubling, trebling
week’s episode is that the sweeping demands come or quadrupling national expenditure for such pur¬
after a series of by no means slight concessions to the poses; but every one of them is perfectly well aware
military spirit. We have given wide swing to the ad¬ in the bottom of his heart that Sir Edward Grey, the
vocates of indefinite increase in the navy.
Compari¬ British Foreign Secretary, spoke the unvarnished
truth when he said last year to the House of Commons
sons drawn up in naval circles this week have shown
that in the “ Dreadnought class” of vessels the United that if the policy of constantly enlarging armaments
States now stands second only to England, far out¬ is to be continued on its present scale, “it must sooner
ranking Germany, France and Japan. What is almost or later, in Europe, lead to national bankruptcy.”
naive about this particular calculation by the experts It is somewhat noteworthy that Sir Edward limited
is the calmness with which it ignores everything else his gloomy prediction to Europe.
That was because
in the naval line in which we invested the national at the time of his speech the United States, while sink¬
treasure during a long preceding series of years.
Con¬ ing prodigious sums in new warships, was neverthe¬
less pursuing a reasonably economical policy in regard
gress has moved steadily up its outlay for fortifica¬
tions. Along with Secretary Dickinson’s new and to land armaments. Perhaps, if the British states¬
prodigiously expensive program, we have at hand the man were to take seriously Secretary Dickinson’s letter
frank statement by Mr. Tawney, Chairman of the Ap¬ of this week, he would be moved to admit the United
propriations Committee, that, outside of Post Office States to the scope of his prediction.
expenditure, appropriations having to do with past
THE ALLEGED “ECONOMY” SOLUTION OF THE
wars or with prospective wars make up nearly twoRATES PROBLEM.
thirds of the national budget.
Now that the so-called testimony has been submitted
Yet, instead of being an argument in favor of going
slow, this enormous increase in military expenditure and the Inter-State Commerce Commission has finished
merely seems to establish a basis for new and larger its hearing upon the question of an advance in rates,
requisitions. The London “Economist” lately pointed and is waiting to reach its conclusion, it may be useful
out that the Crimean War was financed by raising the to look a little at the proposition that the real solution
British income tax temporarily from seven pence in of the whole difficulty can be found in more economy.
the pound to sixteen and the Boer War by raising it
Everything which was said concerning the value of
the
utmost economy and efficiency attainable really
from eight pence to fifteen, whereas to-day, with ex¬
penditure for armament in a time of peace on its ex¬ needed no witness: it was admitted from the start.
isting scale, a Liberal Government already stands for All which was offered concerning the improved results
an income tax of a shilling in the pound.
People fa¬ attainable by the “scientific” management (supposed
miliar with the present situation of the investment bond to be emphasized by actual cases) is highly interest¬
market, the world over, entertain no illusions as to ing, but nothing new; it was known before that some
the purely financial bearing of this unheard-of ex¬ industries now get their profits almost wholly by
travagance in a year of peace. It amounts to this: utilizing by-products and stopping wastes—for in¬
that the cost of armed peace at the present day runs stance, the oil trade utilizes for a line of valuable dyes
close to the cost of actual first-class war a generation what was once a waste product which cost money and
trouble to get rid of. Volumes could be made upon
ago.
Thursday’s announcement of Mr. Andrew Carnegie’s this topic; it would all be very true, but all very
"
""
establishment of a $10,000,000 trust to be administered familiar.
This line of “evidence” is also irrelevant, and is so
in the interests of international peace coincided curi¬
ously with the same day’s news of the “secret army for two reasons. First, to show beyond question that
1602
THE
CHRONICLE
hundred
shops and industries (even including one
shop directly concerned with railway work) have
adopted improved and “scientific” methods, and thus
have effected economies, would not furnish even a
presumption that railways have not done and are not
now doing the
same; evidence that some men have
reformed in a given particular is not evidence that
some other men need
reforming. Therefore, all the
interesting testimony about improvement in private
shops is irrelevant to the proposition, that perhaps
a
railroads
are
not economical.
irrelevancy is that there is
the work of
The other
no
reason
of the
close parallel between
JVOL.
LXXXXI.
proboscis and developed his long one, in course of
many generations, by constantly trying to reach the
ground; the hypothesis omits to explain how the
animal existed during the process. We have
already
pointed out that wage advances go into effect at once,
by approval or by tacit consent of the public; but rate
advances must wait for development lest a mistake
be made.
How will the roads get on meanwhile?
Just nowT (as if to
emphasize this question) the loco¬
motive engineers in the West are
making a demand for
more
wages; and, on the other side, Mr. John Mitchell
has lost no time in
declaring that the labor unions
will positively not
accept the piecework and bonus
part of the scientific scheme wdiich is suggested as
nary
private concern making say patent
locks, or, possibly, bricks, conducted all in one place
and under conditions which facilitate close
personal able to effect great savings.
touch by a supervisor, and the work of
railway con¬
struction and management. This is only
one more THE SOUTHERN PACIFIC COMPANY REPORT.
example of the frequent injustice done by bringing
The annual report of the Southern Pacific
Company
under the same comparison
things which are too always gives the impression of vastness. This is so
unlike to be treated thus.
because of the large extent of road
operated (not to
It has been assumed by several (one of whom did
speak of the yet larger mileage of water lines) and the
not affirm it, he
only “doubted” the contrary) that magnitude of the company's yearly income. Another
railway managers have no powerful motive towards feature is the steadily rising
prosperity which the re¬
economy.
Dealers in railway supplies do not enter¬ sults from year to year reveal. Not less
important
tain any doubts about this; and if
any of the gentle¬ is the further growth in operating
efficiency disclosed
men who
deny the care for economy had ever sought with each new report—to which, indeed, the advance
to sell supplies he would have discovered that the in
prosperity is in great measure to be attributed.
difference
a
between
locomotive
stance, at 50 cents and
grease-cups,
for in¬ Since the property
at 100 cents each is appre¬
ciated.
Yet for the moment let
agers of the country
of the layman who
the
railway man¬
cheerfully ready to sit at the feet
us assume
came
under the domination of the
Union Pacific it has been
completely
and evidence of the fact is furnished on
rejuvenated,
nearly every
of the report in the elaborate and comprehensive
page
statistics with which that document abounds.
In the previous two fiscal
years, under the influence
claims that he is able to teach
them; further, that it is shown (or admitted) that they of unfavorable business
conditions, traffic and gross
are not economical
enough. To say this of all roads earnings (but not net earnings) had fallen off,
though
would be preposterous; the admission must therefore
only in a moderate way. In the twelve months under
be confined to some.
How would those some be dis¬
review, with the development^ more auspicious condicovered out of the whole number? Could the demon¬ tionsa
gain, this loss was recovered more than twice over,
strator of economy make a tour of close
and
personal in¬
apparently the company has entered upon a new
spection, and, if he could, how long would the work record of expansion that promises
to be hardly less
take him? Suppose that some one or more of the
noteworthy than that which has marked the course of
roads particularly accused denied the
charge of waste its affairs during the past decade. The operations
or inefficient
handling, how should the issue be de¬ of the late year are distinguished for another circum¬
termined in each case before the Commission?
The stance, namely the fact that the Southern Pacific
recent hearing produced
only unsupported general was one of the few large systems which managed to
charges to this effect; could any other kind of hearing save an important
part of the gain in gross revenues
be more surely determinative? If
not, it is plain that for the net. On the generality of roads in this coun¬
even if the
economy-doubters are right in their guess try, expenses during the last twelve or fifteen months
as to some cases it is not
possible to prove it.
have been rising in such a prodigious
way that it has
Notwithstanding, this charge as thrown out has been exceedingly difficult to add
anything to the net.
some
potency for mischief. For, in ordinary circum¬ Indeed, there have been numerous instances of
heavy
stances, the public would assume that men in charge losses of net in face of a considerable
expansion in the
of railway work know their business and would
not gross.
The Southern Pacific management have ac¬
give a moment's serious heed to any outsider who complished the task of
substantially improving net
declares that they do not and that even he could as well as
gross; and this satisfactory outcome may be
teach them, so plain is the fact.
But in the present ascribed at once to the high physical state to which
situation, with men trying to block needed rate ad¬ the property has been brought and the continued ef¬
vances and
catching at any semblance of an argument forts in all departments of the road's affairs to raise
to sustain their opposition,
there is at least a tendency operating efficiency to a still higher plane, albeit the
(we will not assume that it has real weight) that a advance in that
respect during the last few years has
Commission desirous of pleasing the
people might been an achievement of a very high order, and one
say, “Oh, well, we guess the railroads can get
along affording striking testimony to what has been accom¬
if they just stir themselves and
practice economy.” plished in that respect.
This is apparently the conclusion for which these
Stated briefly, gross operating revenues
pro¬
during the
testing gentlemen are striving.
twelve months under review increased no less than
:
;
There has been a theory (which
might be deemed $13,677,500, while in the revenues from outsideoj^rafacetious) that the! elejiHant began with only an ordi¬ tions there was a further increase of
$823,198, making
a
total increase of
1603
THE CHRONICLE
Dec. 171910.]
$14,500,698.
That there should be
business.
In the
case
of the Southern Pacific, fixed
expansion in the gross revenues in a single year of charges for 1909-10 actually exceeded those for the
over
14J^ million dollars affords commanding evi¬ preceding year in amount of $3,137,667. If allow¬
dence of the magnitude of the company's operations. ance be made for this addition to fixed charges, all
Under this further increase, the total of the gross the surplus that remains out of the $4,894,638 in¬
crease in net income is $1,756,971.
Treated in that
revenues was raised to above 135 million dollars—in
exact figures $135,022,607.
In the previous fiscal way, the entire net yield of the $14,500,698 expansion
year the gross revenues had shown a decrease of $2,- in gross revenues for the year is found to be 1% million
755,012, following a decrease of $2,917,439 in 1907-08, dollars.
but the falling off for the two years combined, it will
Fortunately, the Southern Pacific was able to in¬
be seen, was only $5,672,451, as against the $14,500,- crease its income from other than transportation
698 increase now recorded for 1909-10.
We have al¬ operations, and it also had a windfall in the shape of
ready stated that part of this large gain in the late year a $4,590,000 extra dividend on the company's hold¬
was saved for the net.
It must not be supposed, ings of Wells, Fargo & Co. Express stock. Accord¬
however, that there was no considerable augmentation ingly, in the final result the company is able to show
in expenses. As a matter of fact, the expenses moved a surplus above all charges of $35,463,218, as against
Bearing in mind that in
up no less than $8,199,847, but this still left a gain in $26,879,402 in 1908-09.
1907-08 the corresponding surplus had been only
net of $6,300,851.
It should be understood that the improvement in the $19,877,740 (the improvement in 1908-09 having
net in the present instance cannot be used as an argument followed from the practice of great economies in opera¬
in favor of lower transportation rates. It is important tion) ,the wonderful transformation which has occurred
to bear this in mind in view of the investigation now in the prospects of this property during the last two
being made by the Inter-State Commerce Commission years stands revealed at a glance.
As against a surplus of $35,463,218 on the year's
into the question of allowing certain of the lines
west of Chicago, and also the trunk lines east of Chi¬ operations over and above charges, the call for
It is hence evident
cago, to make moderate advances in rates, and also in dividends was only $17,238,346.
view of the contention of the shippers that no such that while 6% is being paid on the $272,690,630 of
proposal should be entertained. Except for one Southern Pacific stock outstanding, surplus earnings,
special circumstance, the augmentation in expenses in 1909-10 were over twice that rate of distribution.
In our review of the report for the previous year, we
on the Southern Pacific would have been yet larger,
and net would of course have been correspondingly indicated in what a marked degree operating efficiency
diminished. Prior to July 1 1909, it was the practice had been promoted up to that time. Further pro¬
of the Southern Pacific lines to charge to operating gress along the same lines stands as one of the charac¬
expenses the following items, namely the protection teristics of the results for the late year.
Examining
of banks and drainage, the increased weight of rail, the different classes of expenditures, it is found that
the greater weight and the improved types of frogs, while expenses for maintenance and for operation
switches, fastenings, and other track material used increased in nearly equal degree, yet the augmentation
in making renewals; also all additions and betterments in the expenses of operation was relatively the smaller.
which did not exceed in the cost of any one improve¬ In other words, the maintenance outlays were added
an
ment the
of $300.
In the
classification, however,
expenditures by the Inter-State Commerce Com¬
mission, the limit in this latter instance has been re¬
duced to $200.
Furthermore, this new classification,
which became effective July 1 1909, requires that all
the various items just enumerated must be charged to
additions and betterments, and accordingly such items
are now carried in capital account.
The report tells
us that these changes in
accounting regulations dimin¬
ished by $1,406,213 the expenses for maintenance of
way and structures as heretofore charged, and corre¬
spondingly augmented the surplus for the year. It
follows, therefore, that to the extent here indicated
the gain in net earnings has been due to the fact that
the company's old accounting methods were more con¬
servative than those now enforced by the Inter-State
Commerce Commission.
Had the computations been
on the same basis for both years, the
gain in net would
have been $4,894,638, instead of $6,300,851.
For the benefit of shippers and the Inter-State Com-,
meree Commission it is
proper to say that even this
reduced gain in net of $4,894,638 was not “all velvet."
A consideration which is not taken into account by
those who would deprive the carriers of adequate rates
is the «onstant increase in capitalization made necei
safy in order tb provide the ^ ineans for the new facil
of
.
'4.m
sum
to in amount of
10.36%, but the addi¬
tion in the case of expenses of operation (we are speak-ing now simply of the expenses of the rail lines inde¬
pendent of the outside operations), though $3,327,961
in amount, was only 8.70% in ratio, notwithstand¬
ing that the volume of transportation service ren¬
dered was larger by 9.46%, as measured by the number
of tons of revenue freight carried one mile, and 17.17%
larger as measured by the number of revenue passen¬
gers carried one mile.
$2,994,198,
or
Some other
comparisons serve to make the results
here disclosed yet more noteworthy.
For instance,
the mileage of cars in the passenger service increased
12.32% and the locomotive mileage for passenger
14.71%, and the total locomotive mileage in
service 11.49%. It should be observed,
furthermore,
trains
that the cost of fuel in the late year was 17.189 cts.
per locomotive mile run against only lfi.895 cts. in
the previous year. In brief, there were four main cir¬
cumstances that tended to
add to the volume of the
(1) the large increase in traffic, (2) the
greater mileage of locomotives and. of cars, (3) the
increased amount of repairs and renewals
arising in
part from the larger traffic and Hie greater mileage,
expenses:
a^d (4) ; the higher wagq schedules, and the enh^ed
prices of materials and sppplips,
^
1604
vorable.
THE CHRONICLE
One
achievements
direction
in the
in
which
there
were
new
of
[VOL.
LXXXXI.
Wells, Fargo & Co. Express stock (after having re¬
special dividend on the latter of $4,590,000
ceived the
transportation of freight, and
that, of course, constitutes the most important arm already referred to). In the sale of the two blocks
of the transportation service. The locomotive mile¬ of stock a
profit of $7,148,865 was realized, which was
age employed in the movement of freight increased carried to the credit of profit and loss account
only 7.16%, as against an increase, as we have al¬
ready seen, of 9.46% in the number of tons of revenue
OUR HARVESTS IN 1910.
freight carried one mile. In the previous year the
The products of the soil in the United States in 1910
record in that respect was already such as to command
wide attention, but in 1909-10 yet further progress have collectively reached an
aggregate in excess of
in the same direction was attained.
evident
This is
any previous year, and this notwithstanding a dis¬
from the fact that 1.61% more freight on the
average appointing yield of wheat.
Every important crop
was loaded into each car and
suffered
damage from deficiency of moisture to a
1.74% more loaded cars
were carried in each
train, with the result of bringing greater or less extent in the early season, but the un¬
a further addition of
3.37% in the average train-load. usually favorable fall weather served in a measure to
The average load was brought up to 476 tons, obvi¬ offset the injuiy done.
This was particularly true of
ously a high figure; for 1908-09 it was only 460 tons corn, our leading cereal, the yield of which is finally
and for 1907-08 but 403 tons.
This is an improvement estimated by the Crop Reporting Board of the
Depart¬
in the lading of the trains in two years of 73 tons,
ment of Agriculture at
or
3,125,713,000 bushels, an ap¬
18%. Back in 1901 the average train-load was only preciably higher total than seemed possible of attain¬
305 tons.
As a consequence of all this, the trains ment in August.
The area under corn is given as
earned $4 53 per mile run in 1909-10,
against 114,000,000 acres, or 4.8% in excess of a year ago.
$4 38 in 1908-09, S3 59 in 1907-08 and only S3 53 The yield at 3,126 millions is 354 million bushels more
in 1906-07.
than in 1909 and 199 millions greater than the
previous
r
As has be?n pointed out by us in previous reviews, record crop of 1906. The product per acre at 27.4
the company’s new capital outlays each year are of bushels, while not as high as that of 1906, which at
enormous extent
In the late year these reached the 30.3 bushels was the best since 1872, is above the
large aggregate of S64,883,296—S38,157,576 of this average of recent years. Finally, the quality is better
having been applied in the construction of new lines, than usual, which enhances its food value. The effect
additions, betterments, equipment, &c.; S18,861,336 of the drought was most severe in the States that go
in the acquisition of stocks and bonds of proprietary to make up the Far Western section of the com belt,
companies and S7,864,384 in the acquisition of stocks where, however, the area is very small, and in the
and bonds of other companies.
In face of these large Dakotas, Minnesota, Ohio and Oklahoma. In some
disbursements, the additions to stock and debt have States of large production, on the other hand, such as
been very light.
On June 30 1909 the total outstand¬ Illinois, Nebraska, Kansas, Iowa, Missouri and Texas,
ing stock of the Southern Pacific Co. amounted to considerable gains in production are shown, the total
$272,537,123, made up of $213,910,358 common and increase in the case of the last three being over 287
$58,626,765 preferred. The preferred stock has been millions of bushels.
retired and on June 30 1910 the aggregate outstand¬
The wheat crop of 1910, according to the final figures,
ing amount of common stock was $272,690,630, repre¬ exhibits a shrinkage from that of the preceding year
senting an increase in total stock for the twelvemonths of 41% millions of bushels, and falls 40% millions be¬
of only $153,507.
In the case of the bonded debt, an hind 1906. In fact, it has been exceeded three times
issue of $50,000,000 San Francisco Terminal first since (but not including) 1901, when the yield of the
mortgage bonds was created; of this $25,000,000 was country was 748% millions of bushels. With con¬
authorized, of which $15,000,000 were taken up in the ditions during the growing season below the average,
year’s accounts. As against this new issue of $15,- the spring-wheat yield for 1910 turned out materially
000,000, there were redemptions of other issues, and less than in 1909. Low temperature in May retarded
the net increase in funded debt of the Southern Pacific development, and dry weather in June and July west
and its proprietary lines for the twelve months is of the Mississippi River was a further adverse influence.
given as only $11,462,577. But even this is in excess These were somewhat offset by later favorable con¬
of the actual addition, as part of the increase went to ditions, but the final outturn as to the
spring-wheat
swell the holdings in the company’s treasury.
growth is an average of only 11.7 bushels per acre, or
There is a new summary of assets and liabilities in a an aggregate production of spring wheat of 231,399,000
statement given on page 14 of the report, and it
ap¬ bushels, against 15.8 bushels per acre, or a total yield
pears that $10,901,569 was borrowed during the year of 290,823,000 bushels in 1909.
The record crop was
from the Union Pacific Railroad Co. Holdings of 292,657,000 bushels, raised in 1898; but the greatest
cash June 30 1910 were only $10,718,579, as
against product per acre was in 1895—18 bushels. Winter
$31,783,013 on June 30 1909, when the amount was wheat did much better than the spring cereal, even
of exceptional extent.
On the other hand, the com¬ though the area lost through winter killing was much
pany had out $17,047,375 in time loans and deposits, above the average.
After allowing for the loss in
as
against only $11,450,000 last year. Further large acreage (13.3%) entailed by the severe winter, there
investments were made during the twelve months in remained 29,427,000 acres, or 2.5% more than in
the Mexican properties and also in other lines and
1909, from which the crop was harvested. Produc¬
in California oil properties. On the other
hand, tion, moreover, reached 464,044,000 bushels, or 15.8
the Southern Pacific Co. sold its
holdings of stock in bushels per acre, second only to 1906, when the crop
the Mexican Inernational Railroad to the National was 492,888,000 bushels, or 16.7 bushels per acre,
Railways of Mexico, and also disposed of its holdings Combining the two varieties, we have a total wheat
was
.
.
Deo. 17
THE CHRONICLE
mo.]
for 1910 of 695,443,000 bushels, which compares
with 737,189,000 bushels in 1909, about 664millions
in 1908 and the record yield of 748,460,218 bushels
in 1901. The quality of this year’s wheat, as is the
case with corn, is above last year, and better than the
average for a series of seasons.
Oats, with favorable conditions throughout most of
the season, have turned out very satisfactorily.
From
an area about 7% greater than in 1909 another crop of
record proportions and exceptionally high quality
has been secured.
As finally estimated by the De¬
partment of Agriculture, the year’s yield is 1,126,765,000 bushels, or 1193^ millions more than in the
preceding year (the previous record total) and 319
millions greater than in 1908. The barley crop ex¬
hibits a decline from that of 1909, the comparison
being between 162,227,000 bushels and 170,284,000
bushels, and there is a falling off of 16^ millions of
bushels from the high-water total of 1906. This
cereal, although one of lesser importance as regards
magnitude of production in the country, shows greater
development than any in recent years. As late as
1605
•crop
1900 the total
area
devoted to its cultivation
was
less
than three million acres,
and the crop of that year
was barely 59 millions of bushels.
Now the area ex¬
ceeds 7 million acres and the yield has been as great
as 178,916,000 bushels (in 1906).
Here again quality
is above the average. The season’s yield of rye is
33,039,000 bushels, against 32,239,000 bushels last
year and is only 592,000 bushels less than the record
total of 1902. To indicate the total yield each year
for the last five
seasons
of the five cereals referred to
(corn, wheat, oats, barley and rye),
we
append the
Barley
Rye
With each
succeeding month the influence of rising
is becoming more pronounced in the affairs
expenses
of the railroads of the United
States, and for the
month of October
a
is
now we
have
compilation which
distinctly unsatisfactory because of the
results which it reveals.
poor
net
On account of the augmen¬
tation in expenses we
for each month of the
have had losses in net earnings
new fiscal
year since the first of
July, but the falling off for October is much the largest
yet reached in the downward course of the net. The
reason why the returns are
growing steadily more
unfavorable is that additions to gross receipts (speak¬
ing of the roads collectively) are now of small propor¬
tions, while, on the other hand, expenses are being
apparently increased in fixed amounts because of
the advances which have been made in wages, and it
seems to be
impossible to curtail outgoes to any
great extent, or at least the effort, if made, is not
proving very successful.
Some roads have sustained heavy losses even in
gross; but that has happened only in special instances
where exceptional conditions have brought about a
falling off in certain kinds of traffic. The remark
applies more particularly to the roads traversing the
spring-wheat districts of Minnesota and North and.
South Dakota, where the wheat yield the present year
was
heavily reduced. The Northern Pacific, the
Great Northern, the Chicago & North Western, the
Minneapolis St. Paul & Sault Ste. Marie may all be
supposed to have suffered in that way, while the
ern
CROPS OF WHEAT. CORN. OATS. BARLEY AND RYE.
Com
Wheat
Oats
OCTOBER.
Northern transcontinental lines like the Great North¬
following table.
Total
Production.
RAILROAD GROSS AND NET EARNINGS FOR
1910.
1909.
1908.
Bushels.
Bushels.
Bushels.
'
1907.
1906.
Bushels.
Bushels.
3.125,713,000 2,772 376.000 2,668,651,000 2,592,320.000 2.927.416.091
695.443.000
737,189.000
664,602,000
634,087,000
735,260,970
1.126,765.000 1,007,353.000
807,156,000
754,443.000
964,904.522
162,227,000
170,284,000
166,756.000
153,597,000
178.916.484
33,039,000
32,239,000
31,851,000
31,566,000
33,374,833
Total... 5,143,187,000 4,719.441.000 4,339,016,000 4,166,013,000 4,839,872,900
and
Northern Pacific
in
addition
sustained
a
diminution of their passenger revenue, owing to the
circumstance that a year ago passenger traffic on
those lines was of abnormal proportions because of the
Alaska-Yukon
Exposition at Seattle.
This stimulus
The transcontinental
missing the present year.
lines likewise suffered at their Eastern end from the
was
falling off in the shipments of iron ore due to the de¬
yield of these cereals is seen to have pression in the iron and steel industry.
been 5,143,187,000 bushels in 1910, against 4,719,The U. S. railroad system as a whole, however,
441,000 bushels in 1909 and 4,839,872,000 bushels in records a small gain in gross receipts as compared with
1906 (the previous record).
1909, even after the shrinkage in earnings of the
While the foregoing comprise the leading food crops
companies named. Stated in brief, for the 754 roads
of the country, there are others of less importance that that contribute returns to our
compilations there is a
warrant mention.
Potatoes (white) are so general gain in the aggregate of
$2,662,525. But unfortu¬
an article of human consumption that
any information nately the addition to expenses reached $13,691,620.
relating thereto possesses much interest. This crop, Consequently we have a falling off in net earnings in
in common with our cereal products, was adversely the sum of over 11 million
dollars—$11,029,095.
affected by drought during the summer, appreciably What makes the outcome
particularly discouraging
reducing the product per acre. In fact, from an area is that compared with twelve months ago there has
about 12% greater than last year the harvest was only been a considerable addition to the
outstanding cap¬
338,811,000 bushels, or some 38 millions of bushels less. italization of the roads representing moneys applied
The total, however, ranks second only to that of in providing new accommodations and facilities
and
1909.
in building new track, new mileage, &c.
The hay crop, largely as a result of dry weather,
As has been pointed out by us on previous occasions,
exhibits a loss from last year, the aggregate yield being our monthly compilations are now exceedingly com¬
estimated as 60,978,000 tons, against 64,938,000 prehensive, embracing practically the entire railroad
tons.
From 1908 there is a falling off of 10 million mileage of the country.
The results are all the more
tons.
Tobacco has done very well in 1910, the final conclusive on that account. The figures we
give are
figures announced by the Department covering 984,- based entirely upon the returns made to the Inter340,000 lbs., a new record in production, and compar¬ State Commerce Commission at Washington. As our
ing with 949,357,000 lbs. in 1909 and 781,061,000 lbs. readers are aware, all the railroads in the United States
in 1908.
—barring only those few lines the operations of which
The combined
1606
THE CHRONICLE
confined
are
wholly within State boundaries—are
obliged to file monthly statements with the Commis¬
sion, and these returns are open to public inspection.
We have transcripts of them made for our own use.
In
Burlington had $675,096 gain in
issue each month
special supplement
termed our “Railway Earnings Section.”
The De¬
cember number of that supplement
accompanies to¬
day’s issue of the “Chronicle” and in it will be found the
reports of earnings and expenses of all the separate
we
In the
arate
altogether the aggregate length of road comprised
reaches for 1910 232,162 miles,
being 98% of the
whole railroad mileage in the United States.
October (754 roads)—
Miles of road
Gross earnings
Operating expenses
L^Net earning
In the
case
|
1910.1
232.162
$256,585,392
165,133,783
228.050
$253,922,867
151,442,163
—Increase or Decrease—
Amount.
%
Inc.
4,112
1.84
Inc. $2,662,525
1.05
Inc. 13,691,620
9.04
$91,451,609
$102,480,704
Dec.$ll,029,095
of the
1909.
separate roads, there
10.76
are many
conspicuous instances showing the upward trend of
expenses.
The Pennsylvania Railroad on the lines
directly operated East and West of Pittsburgh lost
only a relatively small sum in gross, namely no more
than $68,532, but in the net the
falling off reaches
over a million
dollars—$1,073,949. Including all lines
owned, leased, operated and controlled, the Pennsyl¬
vania Railroad system records a small
gain in gross
($201,455), but a loss in net of $1,453,139, due to an
augmentation of over 1 % million dollars in expenses—
this for a single month. The New York
Central,
though having gained $272,878 in gross, suffers a
decrease of $460,198 in net.
This is for the Central
Including the various auxiliary and controlled
roads, like the Lake Shore, the Big Four, the Michigan
Central, the Rutland, &c., the result is a gain of
proper.
following
roads,
amounts in
we
whether
of
excess
lxxxxi.
with $219,686
show all changes for the
increases
or
decreases,
$100,000, both in the
gross
sep¬
for
and
in the net.
It will be noticed that the list of decreases
in the net is a
a
roads for the month of October.
The summaries in
the present article are the totals derived from these
statements of the separate roads.
It will be seen that
gross
loss in net.
order to furnish full details for all the
separate
companies,
[Yol
long
one.
PRINCIPAL CHANGES IN GROSS EARNINGS IN
OCTOBER.
Chicago Burl & Quincy._
Atch Top & Santa Fe
Baltimore & Ohio
Illinois Central
Missouri Kan & Texas._
Chicago Milw & Pug Sd__
Clev Cine Chic & St Louis
N Y Cent & Hud River
Norfolk & Western
St Louis & San Fran
Louisville & Nashville...
Rock Island
Wabash
Oregon & Washington
Increases
a272,878
our
255,159
246,030
243,173
212,304
200,717
178,806
compilation
$5,496,815
nprren c/>q
Northern Pacific.
$1,424 194
Duluth Missabe & No,
747,551
Great Northern.
674,576
Duluth & Iron Range
357,197
Southern Pacific
cl75,744
172,870 Chicago & North West...
121,389
170,960 Philadelphia & Reading..
101,327
167,837
153,660
Representing 7 roads in
Boston & Maine
Chic St Paul Minn & Om.
N Y N H &
$116,538
115,990
112,729
109,444
103,623
448,141 Toledo & Ohio Central
328,119 Delaware & Hudson
315,772 N Y Chicago & St Louis._
C308.036 Union Pacific
290,303
282,522
Representing 24 roads in
Virginian
Southern
Increases.
•
$546,046 Chicago Great Western..
Hartford....
Railway
145,158
our
compilation
$3,601,978
Note.—All the figures in the above are on the
basis of the returns filed
with the Inter-State Commerce
Commission. Where, however, these
returns do not show the total for
any system, we have combined the
sepa¬
rate roads so as to make the results
conform as nearly as possible to those
given in the statements furnished by the companies
themselves.
a These figures cover
merely the operations of the New York Central
Itself.
Including the various auxiliary and controlled roads, like the
Michi¬
gan Central, the Lake Shore, the
“Big Four,” the “Nickel Plate,” &c.,
the whole going to form the New York
Central System, the result is a gain
of $997,954.
c
These figures are furnished
by the company.
PRINCIPAL CHANGES IN NET EARNINGS IN
OCTOBER.
Increases.
Decreases.
Chic Burl & Quincy
$1,236,258 Michigan Central
$446,984
St Louis & San Fran
247,818 Baltimore 6s Ohio
438,150
Illinois Central
202,307 Chicago 6s North West
376,966
Atch Top 6s Santa Fe____
166,225 Louisville 6s Nashville
356,444
Norfolk 6s Western
111,291 Rock Island
299,796
Virginian
108,541 Northern Central
294,632
Duluth 6s Iron Range
291,431
Representing 6 roads in
Erie
233,452
our compilation
$2,072,440 Delaware Lack & West..
231,540
Decreases. Philadelphia 6s Reading.
230,464
Pennsylvania
_.*/$ 1,073,949 Pere Marquette
206,030
Northern Pacific
1,044,278 Pitts 6s Lake Erie
155,733
Southern Pacific
c721,732 Boston 6s Maine
153,605
Duluth Missabe 6s Nor...
718,538 Central of New Jersey
145,744
Union Pacific
687,673 Chesapeake 6s Ohio
145,176
Chic Milw & St Paul
551,120 Lehigh Valley
113,926
Lake Shore 6s Mich South
529,772 Bessemer 6c Lake Erie...
100,636
Great Northern.
487,506
Missouri Pacific
C479.537
Representing 27 roads in
N Y Central 6s Hud River a460,198
our compilation
$10,975,012
_
a These figures cover
merely the operations of the New York Central
Itself.
For the New York Central System the result is a loss
of $1,763,566.
c These figures are furnished
by the company.
y These figures represent the lines directly
east and west of
Pittsburgh, the Eastern lines showing $566,584 operated
decrease and the Western
lines $507,365 decrease.
For all lines owned, leased,
operated and con¬
trolled, the result Is a loss of $1,453,139.
In the aross the Eastern lines
showed $189,964 decrease and the Western lines
$121,432 Increase.
For
all lines owned, leased, operated and controlled the
result was a gain of $201,455 in
•
$997,954 in gross, but a loss of $1,763,566 in net. In
gross.
other words, there was an augmentation in
operating
When arranged in groups a
striking illustration is
expenses on this system for this one month in amount
furnished of the part played by
of 2% million dollars.
rising expenses in
producing unfavorable results as to net; for while
In other parts of the
country the showing is much
every group but one records a gain in gross, on the
the same.
Thus the Union Pacific added
$103,623 other hand each
group records a decrease in net. Our
to gross but falls $687,673 behind in net.
Similarly, summary
by groups is as follows.
the Rock Island has $212,304 increase in
gross with
SUMMARY BY GROUPS.
$299,796 decrease in net. The Baltimore & Ohio,
Gross Earnings
Increase (+) or
with $328,119 gain in gross,
October—
1910.
1909.
Decrease (—).
reports $438,150 falling
Section of Group—
$
$
%
%
1
(26
Group
roads), New England
off in net.
11,886,806 11,433.193
Where gross has receded, the
3.97
growth in Group 2 (139 roads), East. & Middle. 60,342,314 59,662,186 +453,613
+680,128 1.14
Group 3 (92 roads), Middle Western.. 35.299,749 34,188.883 +1,110,866 3.25
expenses has in some instances brought
noteworthy Groups 4 & 5 (151 roads). Southern... 31,199,252 30,052,383 +1,146,869 3.82
losses in net.
The Southern Pacific Co. is
type of
this class, recording a contraction of
$175,744 in gross
and of no less than $721,732 in net. The
Chicago &
North Western has $121,389 decrease in
gross and
$376,966 decrease in net. The Northern Pacific, for
the
reasons
already enumerated, suffered
a
a
contrac¬
tion in gross revenues of no less than
$1,424,194;
and as it was found possible to reduce
expenses in only
a small
way, there is a loss in net of over a million—
$1,044,278.
The Great Northern has $674,576 de¬
$487,506 decrease in net.
The Burlington & Quincy
forms an exception to
the general rule, its
expenses last year having been
crease
of
in gross and
large magnitude, making
a
reduction the present
feasible. The reduction was coincident with an
increase in gross receipts and hence this
company is
year
distinguished for a gain of $546,046 in gross and a
gain of $1,236,258 in net. Last year, however, the
Groups 6 & 7 (114 roads), Northwest. 60,217,012
Groups 8 & 9 (168 roads), Southwest. 42,105;i38
Group 10 (64 roads). Pacific Coast
15,535,121
Total (754 roads)
62,771,230
40,376,500
15,438,492
—2,554,218
+1,728,638
+96,629
4.07
4.28
0.62
256,585,392 253,922,867
+ 2,662,525
1.05
Net
Mileage
1910.
7,736
Group No. 1
Group No. 2..
25,930
25,196
Group No. 3
Groups Nos. 4 & 5.. 40,417
Groups Nos. 6 & 7.. 63,674
Groups Nos. 8 & 9.. 53.150
Group No. 10
16,059
1909.
7,667
26,040
25;i53
39,845
62,494
51,599
1 5,252
1910.
$
3,926,221
19,744,422
11,,108.484
11,100,689
24,136,594
14,605,651
6,829,548
Earnings
1909.
$
4,156,184
22,682,742
13,384,751
11,452,834
27,957,344
15,009.728
7,837,121
Increase (+) or
Decrease (—).
$
%
—229,963 5.56
—2,938,320 12.95
—2,276,267 17.01
—352,145 3.08
—3,820,750 13.66
—404.077
2.69
—1,007.573 12.85
Total
232,162 228,050 91.451.609 102,480.704 —11.029,095 10.76
NOTE.—Group I. Includes all of the New England States.
Group II. Includes all of New York and Pennsylvania except that portion west
of Pittsburgh and Buffalo; also all of New Jersey, Delaware and
Maryland, and
the extreme northern portion of West Virginia.
Group III. includes all of Ohio and Indiana; all of Michigan except the northern
peninsula, and that portion of New York and Pennsylvania west of Buffalo and
Pittsburgh.
Groups IV. and V. combined Include the Southern States south of the Ohio and
east of the Mississippi River.
Groups VI. and VII. combined Include the northern peninsula of Michigan, all of
Minnesota, Wisconsin, Iowa and Illinois; all of South Dakota and North
Dakota, and
Missouri north of St. Louis and Kansas City; also all of Montana,
Wyoming and
Nebraska, together with Colorado north of a line parallel to the State line
passing
through Denver.
Groups VIII. and IX. combined Include all of Kansas, Oklahoma, Arkansas! ifcd
Indian Territory; Missouri south of St. Louis and Kansas City; Colorado south
pf
Denver; the whole of Texas and the bulk of Louisiana; and that
jportion of New
Mexico north of a line running from the northwest corner of the State
through
Santa Fe and east of a line running from Santa Fe to El Paso.
J
Group X. includes all of Washington, Oregon, Idaho, California, Nevada, Utah
and Arizona, and the western part of New Mexico.
,
,
.
,
THE CHRONICLE
Dec. 17 1910.1
1607
understand that compari¬ ter, of Wyoming, as Associate Justices of the Supreme Court.
These nominations were confirmed by the Senate on Thurs¬
son is with very full earnings, both gross and net, in
day. Mr. Lamar, who was formerly a Justice of the
1909.
Our own compilations, comprising 222,632
Supreme Court of Georgia, has been chosen to take
miles of road, showed for October 1909 $26,077,330 the place left vacant through Justice White's advancement.
improvement in gross and $13,790,955 improvement Judge Van Devanter has been a Judge in the United States
The reader will of
course
Circuit Court since
1903, and was one of those who passed
completed returns of the Inter-State
adversely on the legality of the Standard Oil combination
Commerce Commission, covering 236,918 miles, made under the decision rendered in Nov. 1909. In the Supreme
the gain in gross $28,351,871 and the gain in net Court he will fill the vacancy created through the resignation
$15,246,353. In October 1908 there was of course a of Justice Moody.
—Transit managers of some of the larger cities met at the
loss in gross, but not in net. According to the re¬
Chicago Clearing House on Monday and Tuesday of this
turns of the Inter-State Commerce Commission, the
week, in response to the call of the Clearing House Section
decrease in gross in October 1908 was $18,196,132. of the American Bankers’ Association, for the purpose of
Owing, however, to the practice of rigid economy and discussing the question of symbols to be used on checks and
the cutting down of expenses in all directions, this was drafts, to minimize the work of transit departments. There
are, it appears, several systems now in use, and in view of
converted into a gain of $5,176,453 in net. In the
complications likely to result the conference was held to
October 1907, which was the month when the panic bring about uniformity. The American Bankers’ Associa¬
occurred, there was a large improvement in the gross, tion makes the following announcement as to what was ac¬
but the net then recorded a considerable loss, owing complished:
“The conference adopted a plan whereby each State In the Union Is to
to the way expenses were rising, that having been a be given a number or symbol; the banks of every State in the Union are
also to be given a number to designate the banks.
The metropolis, or
noteworthy characteristic of that period of time just financial centre, of each State is to be selected for the using of, their Clear¬
ing House numbers; non-member banks in these cities are to be numbered
as it is in the present year.
In the following we fur¬ where they are not already numbered, and other numbers following to be
nish a summary of the October comparisons of gross given to the balance of the banks in the State.”
While the general plan evolved was ratified, the task of per¬
and net for each year back to 1896. For 1909 and
fecting its details was left with a special committee compris¬
in the net.
The
1908
the Inter-State Commerce
we use
totals, but for ing three representatives from Chicago banks, who
complete the work in the near future.
are
This committee
to
preceding years we give the results just as registered
sists of W. G. Schroeder of the Continental & Commercial
by our own tables each year—a portion of the railroad National
Bank; C. R. McKay of the First National Bank,
mileage of the country being always unrepresented and J. A. Walker of the Corn Exchange National Bank.
in the totals, owing to the refusal at that time of Following the conference, the executive committee of the
some of the roads to give out monthly figures for
Clearing-House Section held a meeting, approving the plan
adopted by the transit managers, and transacting other rou¬
publication.
When the
tine business in connection with the section.
Gross
work of the
Net Earnings.
Bantings.
Year.
Year
Given.
•
Year
Preceding.
Increase or
Decrease.
Year
Given.
9
9
9
9
62.589.268 65.982.600 —3.393,332 24,162,741
72,051,957 67,359.774 +4.692.183 27.875,335
79.189,550 74.808.267 +4,381.283 32,203.684
93.439.839 82.648.011 + 10.791,828 36.761.616
101.185,248 97.613.383 +3.571.865 38,239,892
114,274,630 100.811.585 + 13,463,045 45.303.549
112.017,914 105.740.749 +6,277,165 40,669.565
122,375,429 112.380.430 +9.994,999 43.341.694
130.075.187 125.423.583 + 4.651.604 48.561,136
136,313.150 125.758.596 + 10.554,554 49.824,783
143.336.728 128.494,525 + 14.842.203 51.685,226
154,309.199 141.032.238 + 13.276,961 46.983.608
232,230,451 250.426.583 —18,196.132 88.534,455
260,613.053 232.261.182 + 28,351.871 103.984,540
256.585.392 253.922.867 +2,602,525 91.451.609
Year
Preceding.
con¬
Increase or
Decrease.
9
9
25,938,287 —1,775,546
25.825,573 +2,049,762
29,708,237 +2,495.447
32,652.688 +4,108,928
—290,359
38.530.251
37,609.947 +7,693,602
—416.786
41,086.351
40,934.029 + 2,407,665
43,713.268 + 4.847.868
46.794.680 + 3,030,103
46.826.357 + 4,858.869
50.847.903 —3,864,295
83.358,002 + 5,176.453
88,738.187 + 15,246,353
102.480,704 —11,029,095
special committee is completed, the plan will be
placed in the hands of Secretary Farnsworth, who expects
to have the co-operation of the State Secretaries in bringing
the
same
to the attention of the banks of the
country.
—In their present
declarations, the Bank for Savings, the
Bowery Savings Bank, the North River Savings Bank and
the Union Square Savings Bank announce the same rate of
interest on deposits, namely, 33^% per annum, as was paid
••
in July.
The Manhattan Savings Institution, like the Green¬
wich Savings Bank, will continue to pay 4% on accounts up
to $1,000 and 3^% on amounts in excess of $1,000.
Those
which have decided to maintain the 4% rate, in addition to
the Seamen’s Bank for Savings, the Emigrant Industrial
Savings Bank and the Metropolitan Savings Bank, men¬
Note.—In 1896 the number of roads included for the month of October was 125;
In 1897. 125; in 1898. 121; in 1899. 126; in 1900. 131; in 1901. Ill; in 1902. 105;
tioned last week, are the East River Savings Institution,
In 1903.168; in 1904.100; in 1905,96; in 1906. 91; in 1907. 88; In 1908. 796; in 1909.
the Broadway Savings Institution, the Maiden Lane Sav¬
699; In 1910. 754.
t*.
ings Bank, the Excelsior Savings Bank, the Irving Savings
ITEMS ABOUT BANKS, BANKERS AND TRUST GO’S. Institution, the New York Sayings Bank, the West Side
—The public sales of bank stocks this week aggregate 257 Savings Bank, the American Savings Bank, the Harlem
shares, of which 184 shares were sold at the Stock Exchange Savings Bank, the German Savings Bank and the Metro¬
and 73 shares at auction. No sales of trust company stocks politan Savings Bank.
were made.
—The new banking rooms of the Fourth National Bank
Shares. BANKS—New York.
Low. High. Close.
Last previous sale.
of this city will be on view to invited guests this afternoon
13 America. Bank of
596 ^ 596 H 596 ^
Nov 1910— 600
(Saturday) from two to seven o’clock, when a reception will
30 Chemical National Bank... 424
424
424
Sept 1910— 427 «
be held by the officers and directors.
*47 Commerce. Nat Bank of
195
195
196
Dec 1910— 196
Material changes have
•137 Fourth National Bank
195
196 H 196
Deo 1910— 194
been made during the past six months in the bank’s building,
14 Manhattan Co, Bank of the 329 % 329 % 329 H
Nov 1910— 330 H
which occupies the block from Pine to Cedar streets on the
16 Merchants’National Bank. 180
180
180
May 1910— 177 H
oaS i
1
1
•
1
1
1
1
1
1
1
1
1
•
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
t
•
•
1
1
1
l
BANK—Brooklyn.
City Bank
20 National
*
Sold at the Stock Exchange.
The stockholders of the bank
have been advised that at the annual meeting on Jan. 10
east side of Nassau Street.
285
285
285
Dec
1910— 285
they will be asked to pass upon a resolution amending the
Governing Committee of the New York Stock Ex¬ articles of association so that provision may be made for
change decided this week to grant the petition of its mem¬ enlarging the board, this being deemed advantageous in
bers to close on the Saturday preceding Christmas, Dec. 24. view of the increased capital and growing business of the
With the conclusion of business on Friday next the Exchange institution.
At present there are eleven directors, and it is
will therefore remain closed until the following Tuesday. the intention to increase the maximum number under the
The Cotton Exchange, besides closing on the 24th, has also by-laws to fifteen.
voted to treat the succeeding Saturday, Dec. 31, as a holiday.
—Several important changes in the firm of J. P. Morgan
The Boston Stock Exchange will likewise be closed on the A Co. will take place on Jan. 1, when Edward F. Whitney
24th.
and George W. Perkins will retire from membership and,
—Edward Douglass White, of Louisiana, was nominated William H. Porter, President of the Chemical National Bank,
on Monday by President Taft as Chief Justice of the United
and Thomas W. Lamont, Vice-President of the F rst National
States Supreme Court to succeed the late Melville W. Fuller, Bank, will be admitted to partnership.
In an announce¬
and the appointment was almost immediately confirmed by ment issued by the firm the reason given for Mr. Whitney’s
the Senate. Justice White has been a member of the withdrawal is his desire to retire from active business.
Supreme Court for sixteen years. The President has also Mr. Perkins, it is stated, “withdraws from the firm in order
named Joseph R. Lamar, of Georgia, and Willis Van Devan- to devote himself to corporate work and matters of a public
—The
THE CHEONIGLE
1608
lVOL.
LXXXXI
in September 1908 a stock dividend of 40% was paid, the
firm.” capital being increased at that time from $500,000 to $700,makes 000, the additional $200,000 being transferred from sur¬
nature, which require more time and attention than it would
be possible for him to give while remaining in the
A further statement which Mr. Perkins personally
'
says:
plus fund.
m
On January I will have been in the firm of J. P. Morgan & Co. ten years
and engaged in business activities over thirty years.
I am withdrawing from the firm for the purpose, as the firm’s announce¬
ment states, of devoting more time to corporation work and work of a pub¬
lic nature in which I am deeply interested.
In continuing my relations with the industrial and other business organ¬
izations with which I am connected, I hope to find further opportunities
for extending the principles of profit-sharing and other benefit plans in
which I have long been Interested, and which experience shows offer a prac¬
tical solution of some of the difficulties existing between capital and labor.
At Columbia University two years ago and at Harvard University last
spring I spoke of the importance of solving the new problems at present
facing the country and which have followed the organization of the great
co-operative combinations of capital, and it is my hope that the experi¬
ence I have had may enable me to contribute something toward the adjust¬
ment of these matters, which seem to me to be of the largest consequence
to the country.
,
Mr. Perkins's connection with J. P.
Morgan & Co. dates
from 1901; he had for many years been associated with the
New York Life Insurance Co., and was Second Vice-President
of the latter when he was taken into the firm. Mr. Whitney
has been one of the partners since January 1900.
Mr. Porter
upon
his entrance to the firm will retire from the presidency
of the Chemical National, but will continue as a member
He became head of the institu¬
of its board of directors.
tion in 1903, upon the death of George G. Williams, advanc¬
ing from the vice-presidency, in which office he had served
for four years.
Prior to that he had been associated with
the Chase National as both Cashier and Vice-President.
Mr. Porter was for two years up to October last President
of the New York Clearing-House Association, and at the
recent annual meeting of the New York Chamber of Com¬
merce was re-elected Treasurer of that body .
He was one
of the organizers in 1903 of the Bankers' Trust Co. and has
since been one of its directors.
Other financial organizations
In which he is also a director are the Guaranty Trust Co., the
Title Guaranty & Trust Co. and the Fifth Avenue Bank.
He
is, besides, Vice-President of the United States Life Insurance
Co. and has other important connections. Mr. Lamont, the
other incoming member of the Morgan firm, became affili¬
ated with financial interests in 1903, when he was thirtythree years of age.
He was at that time chosen as Secre¬
tary and Treasurer of the Bankers' Trust Co., later becoming
In January 1909 he was elected
its Second Vice-President.
Vice-President of the First National
Bank, succeeding
Henry P. Davison, who had resigned to enter the J. P. Mor¬
gan firm. Mr. Lamont is a director of the Guaranty Trust,
the Bankers' Trust and the Astor Trust companies.
—James S. Alexander, Vice-President of the National
Bank of Commerce in New York, has been elected a trustee
of the Fulton Trust Co. of New York, to succeed the late
a
Joel Francis Freeman.
—Permission to pay to
the depositors of the failed Euro¬
pean-American Bank of this city a dividend of 60%, aggre¬
gating, it is said, about $90,000, was granted to the State
Banking Department by Justice Amend on the 14th inst.
The bank closed its doors on Aug. 6.
—The Chase National Bank of this city has declared the
usual quarterly dividend of 3% and an extra dividend of 8%,
both payable Jan. 3 1911 to holders of record Dec. 31 1910.
Last year the extra distribution at this time was only 6%.
—Edward V. W. Rossi ter, Vice-President of the New
York Central & Hudson River RR. and Vice-President of
the Lincoln National Bank of this city, died on the 11th inst.
Mr. Rossiter also served as Vice-President of the Lincoln
Safe Deposit Co. and was a trustee of the Bowery Savings
Bank.
H—John
Maxwell, Chairman of the executive
Jersey and iden¬
tified with numerous other interests, including several finan¬
cial institutions, died suddenly on the 11th inst.
Mr. Max¬
well began his business career with a banking institution,
the American Exchange National Bank, and was subse¬
quently a member of the former banking firm of Maxwell &
Rogers
committee of the Central Railroad of New
Graves.
American
At the time of his death he
Exchange National, and he
director of the
was a
was
also
a
member
of the board of the Liberty National Bank and the Mutual
Life Insurance Co., besides being affiliated with various
railroad and other
enterprises.
—The Liberty National Bank of New York City has de¬
clared the usual quarterly dividend of 5% and an extra divi¬
dend of 5%, payable Jan. 3 to holders of record Dec. 31.
—A quarterly dividend
has been declared by the
of 3%, being dividend No. 44,
Mount Morris Bank of this city,
payable Jan. 3 1911 to holders of record Dec. 20 1910. This
a 12% per annum basis, as against 10%
paid in 1909 and 8% previously.
—The last official statement published by the First
National Bank of Paterson, N. J., namely Nov. 10, shows
that institution has enjoyed a material increase in its business
during the past year. Deposits were reported at $3,312,885,
while the average deposits for the four years preceding were
raises the stock to
as
follows:
1W9
12,824,00011907
2,515.00011906
1908
The bank
was
.
$2,387,000
2,257,000
organized in 1864 and has paid in dividends
since its organization $2,022,000, or at the rate of 14% per
annum.
Edward T. Bell is at the head of the institution,
with W. O. Fayerweather, Vice-President, Whitefield W.
Smith, Cashier, and Frederick D. Bogert, Assistant Cashier.
—The Westchester County Bankers' Association held its
annual meeting on the 10th inst., when the following officers
were elected: President, C. A.
Pugsley of Peekskill; VicePresident, W. F. Hendrix of Rye; Secretary (re-elected),
Henri J. Van Zelm, Secretary of the New Rochelle Trust Co.,
and Treasurer, John Burling of White Plains.
The associa¬
tion was formed in January last at a meeting of a majority
of the bankers of Westchester County held at the Trans¬
portation Club, New York. Its object is to promote the
general welfare and usefulness of banks and trust companies,
discussion of subjects of importance to the banking and com¬
mercial interests of the County of Westchester, and to secure
the proper consideration of questions regarding the financial
and commercial usages, customs and laws which affect the
banking interests of the county. Of the 26 banks and 5
trust companies in the county, 20 banks and 4 trust com¬
panies are members of the organization. The following
statement has been furnished to indicate the strength of the
association, comparison being made of the standing of the
24 institutions included in its membership and the total
number in the county, the figures being of date Nov. 10:
Surplus A
Capital.
Profits. •
Assets.
Deposits.
31 Institutions
.$3,590,980 $2,653,875 $40,090,052 $$1,732,925
24 member Institutions— $.940,980
2,317,940 36,277,663 29,275,640
Yonkers National Bank of Yonkers, N. Y., has
issued invitations for the inspection to-day, the 17th inst.,
of its bank building and equipment at 26 South Broadway.
The institution opened on Sept. 12, while its quarters were
in uncompleted shape, and the work of reconstruction has
since been continued.
A statement issued on Dec. 12, at
the conclusion of two months' operation, shows deposits of
$382,451 and total resources of $783,169.
—-John Dix Coffin has been elected to replace his uncle,
Governor-elect Dix, as a director of the First National Bank
of Albany.
Mr. Coffin, as noted last week, also takes Mr.
Dix’s place on the board of the Albany Trust Company.
—John Dunn Jr. has replaced the late L. C. Smith as
President of the National Bank of Syracuse at Syracuse
N. Y.
Mr. Dunn’s former place as Vice-President is taken
by W. L. Smith.
—Theodore Campbell Turner, Vice-President of the First
National Bank of Cooperstown, N. Y., died on the 1st inst.
He was in his sixty-sixth year and had served as Cashier of
the bank for twenty-eight years.
—The Marine National Bank of Buffalo is rapidly forging
to the front as one of New York State’s largest banks, the
recent call of Nov. 10 showing that its resources are within
striking distance of thirty millions. Deposits have grown
since Sept. 1 1910 from $23,338,659 to $25,003,429.
This
institution is unique in that, while it has a capital (paid in)
of $500,000, it also has a capital (earned) of $1,500,000,
making a total capital of $2,000,000. It has, besides, sur¬
plus and undivided profits (earned) of $1,346,314.
—The
declaring
—Edward P. Hatch has been elected to succeed Josiah H.
Goddard, resigned, as President of the Lincoln Trust Co. of
Boston.
Mr. Hatch had previously been Vice-President.
had been made since
have secured control
—The directors of the Mutual Alliance Trust Co. of New
York resumed the payment of cash dividends this week by
a quarterly dividend of 1}4%, payable Jan. 3 1911
to holders of record Dec. 31 1910.
No cash distribution
January 1908, when 4%
was
paid, but
—The Commonwealth Trust Co. of Boston is
reported to
of the Security Safe Deposit Co# of
dec.
171910.]
THE CHRONICLE
i
1609
*
-K
Boston through the purchase of the James Hazen Hyde
holdings in the concern. According to the Boston “Trans¬
cript/’ the purchase is made as an investment and will in no
way change the character of either company.
The safe de¬
posit company has a capital of $200,000, and it is stated that
the Hyde holdings, of somewhat over 1,000 shares, were
secured at a comparatively low figure—a little above par.
—“Boston’s oldest banking institution,” the National
Union Bank (incorporated in 1792), reports deposits under
the recent call of Nov. 10 last of $10,141,780 and
aggregate
resources of $12,960,166.
The bank has a capital of $1,000,000 and surplus and profits of $1,392,485.
Henry S. Grew
is President, with Theophilus Parsons and Charles P. Blinn Jr.
as Vice-Presidents and William S. B.
Stevens, Cashier.
—George W. Tufts, formerly Cashier of the Rockport
National Bank of Rockport, Mass., who was arrested in
July
last on a charge of misapplying funds of the
institution,
Robert M. Scott.
E. P. Townsend has been made Assistant
Treasurer.
—An initial dividend of 10%
of the depositors of the Franklin
has been declared in favor
Savings Bank of Franklin,
The amount represented in
Pa., which suspended last July.
$80,000.
the distribution is said to be
—Plans to consolidate the State Savings Bank & Trust
Co. and the Capitol Trust Co. of Columbus, Ohio, have
been
approved by the directors of the two institutions. The
merger is to be effected under the name of the State Savings1
Bank & Trust Co., and Edwin R.
latter, will continue
tion.
as
W. D.
Sharp, President of the
President of the enlarged organiza¬
Guilbert, formerly State Auditor, and President
Capitol Trust Co., will retire. The State Savings
Bank & Trust was organized in 1892 and has a
capital of
$200,000 and surplus and profits of about $122,000; the
Capitol Trust Co. was established in 1905 and was originally
committed suicide on the 28th ult.
He is said to have been the
Capitol Savings & Trust Co.; it has $400,000 capital and
indicted recently for the alleged misappropriation of about
$40,000 of surplus and profits. The united institution is to
$8,000 and to have pleaded guilty to one of eight counts in have a
capital of $400,000 and a surplus of $100,000, the
the indictment.
He had been released under bail
pending consolidating companies each contributing $250,000 of the
an examination as to his sanity.
Mr. Tufts had been con¬ $500,000 capital and surplus. William F.
Burdell, Vicenected with the bank for thirty-one years.
He had also President of the State Savings Bank & Trust
Co., will retain
fornlerly been Town Treasurer. As noted in our issue of that office with the consolidated
institution,
and Alexander
Oct. 22, new interests have lately become identified with
W. Mackenzie, Secretary and Treasurer of the
Capitol Trust
the bank.
Co., will be Cashier of the enlarged concern. The stock¬
—The Asbury Park Trust Co. of Asbury Park, N.
J., holders of the Capitol Trust will ratify the proceedings on
has been incorporated with a capital of $100,000 and a sur¬ Jan. 5, while those of the State
Savings Bank & Trust Co.
will take action Jan. 11.
plus of $25,000.
—A new institution is to be formed in
Philadelphia through
the consolidation of the Merchants’ Trust Co. and the Union
Trust Co.
Negotiations for merging the two organizations
completed by the directors this wreek, and the ratifica¬
tion of the stockholders will be had at the annual
meeting on
Jan. 10, the consolidation becoming operative, it is ex¬
pected, about the end of the coming month. The organi¬
were
zation to be thus formed will be known as the Merchants’
Union Trust Co., and it will have a capital of $1,000,000,
surplus of $300,000 and undivided profits of $20,000. The
present $500,000 capital of the Merchants’ Trust will be
represented in the new company to the extent of $400,000,
and the $500,000 capital of the Union Trust will be accorded
$300,000 of the consolidated company’s stock. The stock¬
holders of the uniting institutions will be offered an allot¬
ment of 30% of the new stock at
130%, which is less than
the actual book value thereof.
This offering of stock has
been underwritten by a syndicate of which the
banking
house of Bioren & Co. of Philadelphia are
managers, and
the additional $300,000 of capital, together with $75,000
of surplus, will be added to the present assets of the com¬
bined companies.
John S’. Bioren, at present a director
of the Merchants’ Trust Co., is to be President of the new
institution. Clarence L. Harper, President of the Union
Trust, will be an active Vice-President of the proposed com¬
pany, and Joseph R. Rhoads, President of the Merchants’
Trust Co., will also be a Vice-President.
The Treasurer
will be H. B. Pearson, now Vice-President and Treasurer
of the Merchants, and the Secretary William J.
Clark, at
present Secretary and Treasurer of the Union. John Stokes
Adams will be the Trust Officer.
The new company will
occupy the Union Trust premises at 715 Chestnut St.
The
Union Trust was established in 1882 and had
deposits on
Nov. 9 of $1,586,372.
The Merchants’ Trust was organized
in 1889.
Its deposits under the November statement were
$744,860. The board of directors of the new company will be
made up of John S. Bioren, George Burnham Jr., Samuel S.
Fels, Clarence L. Harper, Charles S. Hinchman, Edward
G. McCollin, E. Clarence Miller, Henry F. Mitchell, James
G. Leiper, S. Davis Page, Frank W. Paul, Alfred I.
Phillips,
Horace T. Potts, Joseph R. Rhoads and Edward S. Sayres.
—The present partnership of Sailer & Stevenson of
Philadelphia will be dissolved on Jan. 1, when the two mem¬
bers composing the firm, John Sailer and
George Stevenson,
of the
—Two Akron, Ohio, banks have
arranged to consolidate,
namely the First National, capital $200,000, and the Second
National, capital $350,000. It is expected that the propo¬
sition will be ratified at the annual
meeting of the stock¬
holders in January.
The resultant institution will be known
as the First-Second National Bank of
Akron, and will have
capital of $650,000. The combined deposits exceed
$5,000,000. O. C. Barber, President of the First National,
a
will be at the head of the
bank.
new
—The directors of the North West State Bank of
have declared a quarterly dividend of
Chicago
l}4%, payable Jan. 3
to stockholders of record Dec. 24.
The bank had heretofore
paid 1% quarterly, the present declaration thus
increasing
the yearly rate from 4 to 6%.
—George W. Dixon, Vice-President
Transfer Co., has been elected
National Bank of Chicago.
a
of the Arthur Dixon
director of the Monroe
—George B. Caldwell, heretofore joint manager with
C. Frederick Childs of the bond
department of the Conti¬
nental & Commercial Trust &
Savings Bank of Chicago, has
been made sole manager of the
department.
—In addition to the regular
quarterly dividend of
directors of the Hibernian
Banking Association of
have declared an extra dividend of
to stockholders of record Dec. 20.
2%, the
Chicago
2%, both payable Jan. 3
—Kelsey D.Chase,of Faribault,Minn.,has been appointed
by
Gov. Eberhart
head of the
will
assume
to
succeed
John
B. Galarneault as
Mr. Chase
Banking Department of Minnesota.
the office
on
Jan.
retire.
—F. D. Monfort has
resigned
2, when Mr. Galarneault will
as
Vice-President and direc¬
tor of the Second National Bank of St. Paul.
olis “Journal” states that he has
bought the,
business of Fred. W. Dean of
The
Minneap¬
note-brokerage
Minneapolis,
f*—A set of rules for the guidance of its employees has been
prepared by the National Bank of Commerce in St. Louis,
which, it is explained, is merely a formal enunciation of
principles of conduct which have heretofore been observed
by the majority of the employees. That the bank is putting
forth every effort to include in its ranks
only those of the
highest moral standard is evident from the penalties which
it imposes for various transgressions; late
hours, the ha¬
bitual use of intoxicating drinks, the
will retire.
frequenting of saloons
A new firm will be formed under the same name
and questionable resorts are deemed “sufficient cause
for
by George B. Stevenson, John M. Sailer (sons of the present
dismissal,”
the
use of cigarettes “will not be tolerated
and
partners) and Charles S. Patton. Mr. Patton has been as¬
under any circumstances.”
A further rule stipulates that
sociated with the present house of Sailer & Stevenson for
forty years. It was established forty-five years ago, and “speculation, betting and gambling in any form will not be
tolerated.”
Employees are likewise cautioned against get¬
the two partners who are about to retire were the
only mem¬ ting
into debt, and are advised that if financial assistance
bers in the firm during all that
period. Both are members is needed that
their case be fresented to an officer.
of the Philadelphia Stock
Dis¬
Exchange!.'
cussion during banking hours of matters not
relating to af¬
—J. P. Richardson has been elected Treasurer of the
fairs of the bank is prohibited.
The bank also asks from
Fidelity Trust Co. of Philadelphia, succeeding the late
employees such suggestions as occur to them for the improve-
1610
THE CHRONICLE
ment of the institution’s
methods, and
a
the telegrams from New York saying that gold
shipments
from Europe are thought likely.
The India Council offered for tender on Wednesday 70 lacs
of its bills, and the applications exceeded 434 lacs at
box for such sug¬
gestions is provided.
—The Canadian Bank of Commerce (head office Toronto)
has issued its statement for the year ending Nov. 30 1910.
The net profits in the new report of $1,838,065 compare with
$1 ,510,695 last year.
prices
ranging from Is. 4 l-16d. to Is. 4 3-32d. per rupee. Applic¬
ants for bills at Is. 4 1-I6d. and for
telegraphic transfers at
Is. 4 3-32d. per rupee were allotted about 16
per cent of the
amounts applied for.
Messrs. .Pixley & Abell write as follows under date of
The deposits have increased during
the twelve months from $120,486,978 to $126,834,254, while
the total assets have risen from $148,998,482 to $157,053,015.
An addition of $1,000,000 has been made to the “Rest”
Dec. 8:
00LD-—The Bank has again made a substantial addition to its gold holdings
out of this week’s arrivals of £750,000, and it is
probable that over £550.000 will
be secured by them, the balance
being required for India and the trade. Since
our last the Bank has received
£732,000 in bar gold, while £8,000 in sovereigns has
been withdrawn for Portugal.
Next week we expect £662,000 from South Africa.
For the week: Arrivals—South Africa.
£521,500; India, £107.500;
thereby raising that fund from $6,000,000 to
$7,000,000. Dividends at 9% ($900,000) were paid on the
$10,000,000 capital, and there is carried forward to profit
and loss $310,204.
account,
Australia, £61,000; West Indies. £21,500; Brazil, £33,500; West Africa, £5,000; total, £758,000.
Shipments—Egypt, £500; Bombay, £130,000; total, £130,500. For month of
November: Arrivals—Germany, £1,000; France, £1,807,000;
Egypt, £5,000:
Brazil, £723,000; Argentina, £2,000; South America, £32,000; India, £190,000;
South Africa, £3,648,000.
Shipments—Germany, £78,000; France, £79,000;
Egypt, £300,000; Brazil, £45,000; Argentina, £100,000; South America, £143,000;
India, £864,000; South Africa, £30,000.
SILVER.—A decline of %d. has been established during the past week, and the
closing quotations are 25d. spot and 25 3-16d. forward. The chief oause of the
fall has come from India, where the
export of produce, the cotton crop being late,
has been somewhat disappointing.
The withdrawals of silver rupees from the
Treasury have therefore been comparatively small, and it is becoming imore im¬
probable that the Indian Government win be a buyer of silver during the next few
months.
The later the shipping season from India the less
likely it is to have any
efTect on this silver market, as the revenue will
begin to flow la to the Treasury
during the spring months, while the delay will enable fresh supplies of new silver to
!plotietavril©ommcx'cia;tI:ugti5Tt^jctus
(From our
own
correspondent.]
London, Saturday, December 10 1910.
The elections so far are making no sensible change in the
position of Parties. One day the Unionists note a gain; the
next day, perhaps, the Liberals have forged ahead of their
opponents. It looks at the present time as if the end would
be that both Parties, when the elections are over, will be
very nearly as strong as they were in the last Parliament.
Yet there is a good deal of apprehension amongst the best
informed Unionists that their Party will lose more between
,now and the end of the conflict than they have done hitherto.
The great strength of the Liberals has been in the North of
England, Scotland, Wales and Ireland. In the last Parlia¬
ment the Unionists were largely in a majority in the south
of England and the territory round about Birmingham.
Even in London itself there were three more Unionist repre¬
sentatives than there were Liberals.
Now the London
elections are over and the Liberals have a majority of one
over the Conservatives in London.
The Unionists, on the
other hand, have won some seats in the North of
and they have won two seats in South Wates, which is
England,
.generally believed to have been due to the strike in South
Wales.
In Scotland, Wales and Ireland nobody expects
Unionist gains, or at any rale Unionist gains worth speaking
of.
But the Unionists are afraid, and the Liberals are
strongly hopeful that they will gain in the counties mainly
in the South and the West.
As the elections will not be
for a week yet, all this is, of course, mere speculation.
In the meantime, business on the Stock Exchange is
over
[Vol. lxxxxi.
meet the demand.
Another reason Is that a belated demand for India will coincide
with a more active Import market in China, when China will be able to set silver
free instead of having to import it. As above mentioned, the
Indian currency figures
were considered poor, and this caused some
selling on what was already a quiet
and somewhat strained market, while the fact that the Indian
spectators were still
holding a large amount of sliver caused uneasiness and kept buyers out of the market.
Chinese speculators then took alarm and began to sell, though the China
exchanges
showed some steadiness.
At the close the selling has ceased and the market has a
much steadier tone, while in India the up-country demand shows further
improve¬
ment and now amounts to about 100 bars a day.
In China the Import market is
dull, while there is still a considerable quantity of produce to be exported, so that it
is probable that she will yet have to be a buyer of silver in the near future.
The
United States Government has been a small buyer this week, but it remains to be
seen whether its purchases will be continued.
The price in Bombay is Rs. 63%
per 100 tolahs.
For the week: Arrivals—New York, £219,500; West Indies, £6,000
Straits (coin), £3,000; total, £228,500.
Shipments—Egypt, £3,000; Madras.
£2,500; Shanghai, £45,000; Bombay, £131.500; total, £182,000. For month of
November—Germany, £3,000; France, £4,000; U. S. A., £1,198,000. Shipments—
Russia, £33,000; Germany, £123,000; France, £54,000; China. £110,000; India,
£1,035,000.
Messrs.
Dec. 1:
Pixley & Abell write
as
follows under date of
GOLD.—The Bank has securedflarge additions to its gold this week out of the
arrivals from South Africa and West Africa, and it Is probable that It will get at
least £800,000 out of the £1,000,000 available, the balance being taken by India
and the trade.
Egypt has again taken sovereigns, to the amount of £314,000, but
it is reported that they will soon be in a position to release their gold and thereby
help to satisfy the Indian demand. Since our last the Bank has received £616,000
in bars, £88,000 in French gold coin and £10,000 in eagles, while in addition to the
sovereigns for Egypt mentioned above, £5,000 has been withdrawn for South Amer¬
ica.
The Bank of England to-day reduced its rate of discount to 4%% from 5%
at which it was fixed on the 20th of October.
Next week we expect £521,000 from
South Africa and £ 115,500 from India.
Arrivals: Bombay, £4,500; South America,
practically paralyzed. The members are betting upon the
West Africa, £48,000; South Africa, £955,500; total. £1.014,000.
Ship¬
elections, and it is said that some of the dealers have opened £6,000;
ments—Bombay, £120.000; Calcutta, £56,000; total, £176.000.
books surprisingly large.
SILVER.—The
tone
of
the
market
remains
dull
and
But the ordinary business is to
prices, in the absence of
sustained inquiry, have a tendency to droop. After falling to 25 5-16d. last
all intents and purposes at a standstill.
Of course, there is any
week on a few speculative sales and small inquiry, a good demand ensued from
a certain amount of investment, and there are
stray specula¬ China, which, unable to obtain supplies from India, found only this market to
te transactions;
its wants. Bears, too, were anxious to cover, and the price recovered to
but the business done is smaller than satisfy
25 %d.
The demand, however, was soon filled, and with a very small business the
had been known even at the elections last January.
Specu¬ market eased off to 25%d., at which it closes steady, with buyers unsatisfied.
lation is hardly more active in France, partly because Paris China exchanges still keep on parity with silver, but the tone is weaker on renewed
is following the lead of London and New York; and partly purchases of sterling by local operators. The up-country demand in India has Im¬
proved and Is up to 80 bars a day, or at the rate of £70,000 weekly, but this has had
because operators are held in check by the floods, which are no appreciable effect on this market. Stocks in Bombay are larger at 20,500 bars,
being supplemented by arrivals of £500,000 from this side. Indian ourrency figures
doing so much damage all over the country. Moreover, the show
a decrease in silver of 70 lacs and an increase In gold of 40 lacs.
Forward silver
proposed strike legislation is not liked either by the working still commands a premium of 3-16d„ but on the reduction in the Bank rate cash
is
in
silver
good demand at this difference. The price in India is Rs. 64 % per 100
classes or by the employers.
Paris is buying in London tolahs. Arrivals—New
York, £233,000.
Shipments—Port Said, £1,500; Bom¬
De Beers shares and gold shares on a small scale.
It is bay, £317.500;*Calcutta, £25,000; total. £344,000.
doing scarcely anything else.
In Berlin, business is nearly as quiet as in London and
English Financial Markets—Per Gable.
Paris, partly because the great banks are all using their
The daily closing quotations for securities, &c., at London,
influence to prevent speculation, and partly because, al¬
as reported by cable, have been as follows the past week:
though money is growing easy, there is fear that at the end
London,
of the month money may become difficult to obtain.
Never¬
Thurs.
Fri.
Mon.
Tues.
Wed.
Week ending Dec. 16.
Sal.
25 %
25 3-16 25%
theless, there has been a rise this week in the securities, Sliver, per oz
25%
d. 25 3-16 25%
79
79 3-16 79%
79%
79%
both of the German Imperial Government and of the Prussian Consols, new, 2% per cents.. 78%
For account
78 15-165 79 3-16 79%
79%
79%
79%
Government, firstly, because inscribed stock is now being French Rentes (in Paris)..fr. 97.87%i 97.75 97.85 97.80 97.80 C97.01
66
66%
65%
65%
64%
Copper Co— 65%
adopted, and is showing that a good deal of those securities bAmalgamated
Anacoida Mining Co
8%
8%
8%
8%
8%
8%
are being taken out of the market, and
partly because of a Atchison Topeka & S. Fe—103% 103% 103% 103% 104% 104%
105
105
105
105
Preferred
104%
105
report that the Prussian Government will not need to raise
109
109%
109%
Baltimore & Ohio
108 %
108%
109%
a public loan in the coming year.
The Prussian Government
92%
Preferred
92%
92%
92%
92%
92%
is a large employer of labor.
198
197%
198%
197%
199%
198%
It is a great railway owner, Canadian Pacific.
83
83
83%
83%
83%
Chesapeake
&
83%
Ohio
mine owner, land owner and so on.
And, therefore, it has Chicago Great Western
23
22%
22%
22%
22%
22%
borrowed annually for a great many years past.
126%
126%
125%
126%
126%
Now Chicago Milwaukee & St. P_126%
29
29
29
28%
28%
29%
it is reported that it will be able to do without a public loan Denver & Rio Grande
71
71%
71%
Preferred
71
71%
71%
in the coming year.
28%
28%
28%
28%
28%
28%
There is also a hope expressed that the Erie
46
46%
46%
45%
First preferred
45%
46
Imperial Government may be able to do without a public
36
35
35
35
35%
Second preferred
35
136
136
135
loan, though few believe that the hope will be realized.
135
136
134
Illinois Central
147
147
147%
146%
146%
146%
In the meantime, although there are fears that the political Louisville & Nashville
32
32%
32%
32%
32%
Missouri Kansas & Texas... 32%
situation will continue strained for some time, there is at
64
64
64
64
64
Preferred
65
71
71
71
65
70
bottom a hopeful feeling in the Stock Exchange, which is Nat. RR. of Mexico, 1st pref. 71 *
36%
36%
36%
36%
36%
preferred
36%
increased by the conclusion of an arrangement between the N.Second
115
115%
115%
115%
115%
Y. Central & Hudson Rlv.115%
42
42
42
42
41%
employers in the shipbuilding trades and delegates of the N. Y. Ontario & Western... 42
100
102
100%
100%
101%
Norfolk A Western
100
employed in all the various trades connected with ship¬
92
92
92
92
91%
Preferred
92*
119
118%
117%
117%
119%
118
building for the settlement of the boilermakers’ dispute. Northern Pacific
66%
66%
66%
66%
66%
66%
Unfortunately, there is to be a vote of the boilermakers’ aa Pennsylvania
76
75%
75%
76%
76%
Reading Co
75%
45%
45%
45%
45%
45%
taken, but as all the other trades are interested, the hope is
a First preferred.
45
48
48%
48%
48%
48%
a Second preferred
48
strong that their influence will compel the boilermakers to Southern
116%
116
115%
117%
Cll6%
117%
Pacific.....-25%
25%
approve the agreement.
25%
25%
25%
Southern Railway
25%
62
61
62
61%
61%
Preferred
61
Money is continuing to fall in value. The Continental Union Pacific
174%
173%
174%
175%
174%
174%
95
95
94%
exchanges, with the exception of Paris, have turned against
94%
94%
Preferred
95
76
75%
74%
this country, and though it is improbable that gold will be U. S. Steel Corporation
75%
74%
76%
120
120
119%
119%
119%
119%
Preferred
shipped from London, yet it is quite possible that the com¬ Wabash
16%
16%
16%
16%
16%
16%
35
35
34%
34%
Preferred
34%
34%
petition for the gold offering in the open market every
64
64
66
66%
64%
Extended 4s
64%
Monday will become keen. In London it is not thought
probable that gold will be shipped to New York in spite of
a Price per share.
b£ sterling, c Ex-dividend.
-
*
-
....
—
-
99..801——TThhee
Dec. 17
THE CHRONICLE
1910.]
©mmttercial and ftXiscjellanetftts Incurs
</VVyW^/VWVWVVVVVVVSAA<VVVWVWVWAAAAAAAAA/VVA/VVNA^AAA^yVWVVVVV»VS>WW>lAAAA/WWVVVVVVVl»,>A^<VVVVVVVVVVi
National Banks.—The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
BANKS NOV. 26 TO DEC. 7.
9,896—The First National Bank of St. Peter, Ill. Capital, $25,000.
August Borchelt, President; H. W. Bahde, Vice-President; Henry
CHARTERS ISSUED TO NATIONAL
Von Behren,
Cashier.
0,897—The First National Bank of Pleasanton, Cal. Capital, $25,000.
Henry P. Mohr, President; C. A. Case, Vice-President; Claude
Smallwood, Cashier; J. C. Mendonca, Assistant Cashier.
Clymer National Bank, Clymer, Pa. Capital, $25,000.
W. E. Oakes, President; L. E. Ackerson, Vice-President: H. An¬
drews, Cashier.
United States National Bank of Deer Lodge, Mont.
Capital,
C. J. Kadlng, Vice-Presi¬
$50,000.
Joseph Whitworth, President;
dent; Arthur J. Lochrie, Cashier.
Tlconderoga National Bank, Tlconderoga, N. Y.
Capital,
$50,000.
Charles E. Bennett, President; Irving C. Newton, VicePresident; Walter W. Richards, Cashier.
People’s National Bank of Washington, Pa
James P. Eagleson, President;
J. Winfield Reed, Cashier.
Capital, $100,000.
R. C. Buchanan, Vice-President;
Canadian Bank
Clearings.—The clearings for the week end¬
ing Dec. 10 at Canadian cities, in comparison with the same
week of 1909, shows an increase in the aggregate of 9.4%.
Week ending December 10.
Clearings at-
...
1909.
1910.
Canada—
Montreal
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Calgary
Inc. or
Dec.
.
Regina
Brandon
Lethbridge
Saskatoon...
S
$
$
%
+3.8 30,015,450
43,518.911 41,943,061
+ 5.8 29.088,293
35,977,733 33,994,080
+ 6.3 19,143,826
25,619,148 24,105,853
3,915,211
7,540,001 + 38.4
10,432,310
2,936,054
3,571,434 + 12.2
4,006,239
2,392,082
2,513,907 + 15.1
2,893,016
1,990,943
2,061,225 —15.4
1.743,365
2,625,180 +50.8
1,794,944
3,958,141
+ 50
1,643,569
1,637,297
1,719,671
1,532,111
2,101,776
1,850,528 + 13.6
1,449,685 + 18.1
1,352,561
1,712,564
1.688,427 + 40.2
1,113,461
2,364,360
971,559
1,251,102 + 42.6
1,784,208
1,099,075 +38.3
1,520,713
d
tot
al.
In
808,931 Not Include
612,677 Not Include d in tot al.
tot al.
d
In
Not
include
1,033.569
139,352,155 127,330,855
Total Canada
+9.4
97.890,064
1907.
$
32,363,586
23,948,913
14,164,632
3,571,881
3.356,744
2,264,411
1,948,016
1,292,746
1,269,982
1,596,229
1,234,975
1,081,834
761,911
a
88,855,660
Slocks.
Utica Chen. ASusq. Val.
Bank of America
Manhattan Co. Bank
Merchants' Nat. Bank
Woman's Hotel Co...
Standard Oil Co. of N. J.
Bonds.
$26,875 Sierra & San Fran. Power
Co. 2d 5s, ser. *‘B,” Jan. 1911
Ry__143
Railroads (Steam) Concluded.
N. Y. A Harlem, common and preferred.
N. Y. Lack. A Western, guar, (quar.)
N. Y. New Haven A Hartford (quar.)...
Part paid stock, issue of Dec. 20 1909..
Norfolk A Western, common (quar.)
Northern Central (No. 92)
Northern RR. of N. H. (quar.)
Northern Securities
Old Colony (quar.)
*
_.596H
329 %
coupons on
_
180
$21,500 Sierra & San Fran.]
Power Co. 2d 5s, ser. “B,”|
67 X
Jan. 1911 coupons on
)
616
$1,666 Sierra & San Fran. I
Royal Baking Powd. Co. com..185
2d
Pow.
Co.
6s,
“A,”|
ser.
Siegel Stores Corp. pref.
91 X
Jan. 1911 coupons on
.j
Siegel Stores Corp. com.
50
Intemat. Banking Corp
$10,000 Stanislaus Elec. Pow.
98
Co. 1st 5s & 50 sh. Stanis¬
Free Rights N. Y. Society LIlaus Wat. Pow. Co. pref.
brary
121-122
(trust co. receipt)
20 Nat. City Bank of Bklyn
285
$20,000 Stanislaus El. Pow.
30 Chemical Nat. Bank
..424
Co.
1st 5s & 100 sh. Stanis¬
50 E. W. Bliss Co. 8% pref
124
laus Water Pow. Co. pref.
100 Mortgage Bond Co. of N. Y..110M
Bonds.
(trust co. receipt)
$25,000 Stanislaus El. Pow.
$31,000 Pennwood Coal Co. 1st 5s,
Co. 1st 5s & 125 sh. Stanis¬
1926.
$500
laus Water Pow. Co. pref.
$10,000 Standard Milling Co. 5s,
1930.
M. & N.
87 & int.
(trust co. receipt)
20
:
..
.
$4,800 lot
indiananolis Street Ry
Lake Shore Elec. Ry., 1st pref. (quar.)
Louisville Traction, common (quar.)
Manila Elec. RR. A Ltg. Corp. (quar.)...
Massachusetts Electric Cos., pref.
New Orleans Railway A Light, pref
Norfolk A Portsmouth Tract., pref. (No. 1)
Northwestern Elev. RR-, CMc., pref. (qu.).
Omaha A Council Bluffs St. Ry., com. (qu.)
Preferred (quar.)
Philadelphia Company, com. (quar.)
Reading Traction
St.Joseph Ry.,L.,H.AP.,pf.(qu.)(No.33).
Sao Paulo Tram., L. A Pow. (qu.) (No. 35)
Second A Third Streets Pass., Phila
South Side Elev. RR., Chicago (quar.)
Twin-City R. T., Mlimeap., com. (qu.)
Preferred (quar.).
Union Passenger Ry., Philadelphia
Union Traction, Philadelphia
United Trac. A Elec., Providence
Century (quar.)..
Chase National (quar.)
$2,000 lot
$4,000 lot
Atlantic Coast Line RR.. Crmmon
Per
Cent.
Payable.
Days Inclusive.
.
Beech Creek, guaranteed (quar.)
Boston A Albany (quar.)
Boston A Lowell
Boston A Maine, com. (quar.)
Boston A Providence, guar, (guar.)
Boston Revere Beach A Lynn
1
Canadian Pacific, com. (quar.) (No. 58).
Common (extra)
Chesapeake A Ohio (ouar.)
Chicago A AUon, preferred.
Prior lien and participating stock
_
Chicago Burlington A Quincy (quar.)
Chicago A Eastern Illinois, pref. (quar.).
Chic. Indianap. A Louisville, common
Preferred
Chicago A North Western, common
lan.
2X
Feb.
Ian,
Jan.
3
1
2X
$4
1 v*
2X
3
IX
X
IX
2
2
2
IX
1%
».
2
3X
2
Cin, N. O. A Texas Pacific, common....
2X
Colorado A Southern, common
.....
Cuba RR., preferred....
—
Delaware Railroad
Delaware A Hudson Co. (quar.)
r._
Delaware Lackawanna’A Western (extra)
Denver «fc Rio Grande, preferred
Detroit A Mackinac, common (No. 1)..
Preferred
Georgia Railroad A Banking (quar.).
Greene RR. guaranteed._____
HarHsb. Portsm. Ml. J. A Lancaster....
2
2
4
Hocking Valley,
2
Preferred
(quar.).
common.
Interborough Ranid Transit (quar.)...
Louisville A Nashville
Maine Central (iquar
Manhattan Ry., guar, (quar.) {No. 107). Morris A Essex, guaranteed. V.
N. Y. Central A Hudson River (quar.)...
...
Jan.
2X
10
2X
2X
2X
2X
Dec.
Jan.
Ian.
Jan.
Jan.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Jan.
Jan.
Dec.
Dec.
Feb.
Jan.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
3
Dec.
3X
Jan.
Jan.
2X
3.X
2
IX
3X
IX
lan.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
1
Jan.
2
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
3
3
3
16
3
16
3
10
3
14
2
3
3
3
Jan.
Dec.31a
Holders of rec.
t
No.
17
of
war1
Holders
Holders of rec. Dec.31a
Holders of rec. Dec. la
to
Jan.
2
Dec. 21
Holders of rec. Dec.22a
to
Jan.
2
Jan. 14
Holders of rec. Dec. 20a
IX
1
2X
2X
2X
51
2X
2
X
IX
IX
IX
IX
IX
IX
2X
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Jan.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
IX Jan.
Jan.
$1
$1.50 Jan.
3
Jan.
IX Jan.
1
Jan.
1
Dec.
Jan.
$2
2X Jan.
IX Jan.
1
Jan.
1
Jan.
IX Jan.
IX Feb.
IX Jan.
75c. Jan.
IX Jan.
2H Jan.
Jan.
S3
X Dec.
IX Jan.
Jan.
IX
$4.75 Jan.
$1.50 Jan.
IX
2X
IX
$5
4
IX
-
IX
5
8
3
5
5
-
-
IX
(quar.)
Metropolitan (quar.)
Montauk, Brooklyn.
Mount Morris (quar.) (No. 44)
;
People’s National, Brooklyn
Seaboard National (quar.)
the
Holders of rec. Dec. 17a
Holders of rec. Feb. 4a
Dec. 16
to
Jan.
2
Hoidnrs of rec. Dec.22a
Holders of rec. Dec.30a
Dec. 17
to
Jan. 10
3 Holders of rec. Dec.23a
31 Holders of rec. Nov.30a
2 Nov. 28
to
Dec.
3
2 Hold rs of rrc. Dec. la
2 Holders of rec. Dec.20a
31 Holders of rec. Dec. 15a
2 Holders of rec. Nov.30a
31 Holders of rec.Nov.30a
31 Holders of rec. Dec. 9a
16 Holders of rec. Dec.3la
16 Holders of rec. Dec.3la
1 Dec. 28
to
Jan.
3
3 Holders of rec. Dec. 17a
30 Holders of rcc. Dec.23a
30 Holders of rec. Dec.23a
3 Holders of rec. Dec. 9a
3 Holders of rec. Dec 9a
17 Holders of rec. Dec. 10a
31 Dec. 22
to
Jan.
2
1 Holders of rec. Dec.31a
1 Holders of rec. Dec. 15a
20 Holders of rec. Nov.29a
22 Holders of rec. Dec. 10a
16 Dec. 25
to
8
Jan.
3 Dec. 16
to
Jan.
4
3 Dec. 16
to
Jan.
4
16 Jan.
Jan. 15
1
to
20 Holders of rec. Dec. 14a
Jan. ! 2
10 Dec. 21 ‘ to
16 Holders of rec. Dec. 19a
3
of
rec.
table's
Dec.2.4a
Feb. ;10
10 Jan. 21
to
2 Holders of rec. Dec. 15a
3 Holders of rec. Dec. 15a
3 Holders of rec. Dec. 9a
161 Holders of rec. Dec.22a
3
8
-
Liberty National (quar.)
$5,000 lot
Books Closed.
3
Jan.
IX
2X
—
Extra
Coal A Iron National (quar.)
First National (quar,)...
Extra
First Security Co. (quar.)
Extra
Mercantile National
When
3
4X
Preferred
„..
Albany A Susquehanna, guaranteed
Allegheny A Western, guaranteed
Atch. Top. A Santa Fe, pref. (No. 25)
5
2
4
Mutual
Dec.
Feb.
31
10
3
2
Bronx National
The following shows all the dividends announced for
future by large or important corporations:
Dividends announced this week are 'printed in italics.
2X
4
Holders
Holders
Holders
Holders
Holders
Holders
Holders
Dec. 29
Holders
Holders
1
Jan.
Dec. 16
$1
IX
$2
IX
Broadway, Brooklyn (quar.)
DIVIDENDS.
Railroads (Steam!.
Alabama Great Southern, ordinary
(quar.)
Virginia Railway A Power, preferred.
Washington Water Power, Spokane (qu.)
West Philadelphia Passenger Ry
Days Inclusive.
3
3
31
31
2
Extra
IX
Cincinnati Street Ry. (quar.)
IX
Cleveland Railway (quar.)
3
Columbus (Ga.) Elec. Co., pref. (No. 9) —
S3
Continental Pass. Ry., Philadelphia
IX
Duluth-Superior Traction, com. (quar.)
1
Preferred (ouar.)
Frank. A Southwark Pass.Ry..Phila.(qu.) $4.50
$1.3U4
Germantown Pass. Ry., Phija. (quar.)
Halifax Elec. Tramway, Ltd. (qu.) (No. 56)
Hestonv. Mantua A Fairm. Pass., com..
Preferred
Books Closed.
Jan.
Jan.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Jan.
IX
IX
Philadelphia Baltimore A Washington
Philadelphia A Trenton (quar.)
Renssalacr A Saratoga
St. Louis A San Francisco—
Chic. A East. Ill. com. stk. tr. ctfs..
Preferred stock trust ctfs. (quar.)..
K.C.Ft.S.AM.pref. stk. tr. ctfs.(quar.)
St. Louis Southwestern, preferred
Southern Pacific Co. (quar.) (No. 17)
Toledo St. Louis A Western, pref. (quar.)
Union Pacific, common (quar.)
United N. J.RR.A Canal Co.,guar. (quar.)
Valley Railroad (N. Y.), guaranteed
white Pass A Yukon
Worcester Nashua A Rochester
Street and Electric Railways.
Amer. Cities Ry. A Lt.. com. (No. 4)
Common (extra)
Preferred (quar.) (No. 18)-Bangor Ry. A Electric (quar.)
Brazil Railway, preferred (quar.)
Brooklyn Kaoid Transit (quar.)
Capital Traction, Washington, D. C. (qu.)
Chattanooga Ry. A Lt., pref. (qu.) (No.6)
Chicago City Ry. (quar.)
-
When
Payable.
Jan.
Jan.
Jan.
Jan.
19
14
2
10
2
of rec. Dec. 15a
of rec. Dec.15a
of rec. Dec.15a
of rec. Dec.15 a
of rec. Nov. 30 •
of rec. Dec. 81a
of rec. Dec. 5a
Jan. 10
to
of rec. Dec.10a
of rec. Dec. 14a
Jan. 10
to
Jan.
2
to
Dec. 18
Dec. 18
Dec. 18
to
to
to
Jan.
Jan.
2 Holders of rec. Dec. 20
2 Holders of rec. Dec. 20
2 Holders of rec. Dec. 20
1 Holders of rec. Dec. 15a
to
Jan.
4
5 Jan.
1
2 Holders of rec. Dec ,10a
to
1 Dec. 12
Jan. 11
1 Holders of rec. Dec. 15a
Dec. 23
to
30 Dec. 17
Dec. 23
to
30 [Dec. 17
Jan.
2
to
2 Dec. 17
of
Dec.15a
rec.
3d Holders
2 Holders of rec. Dec.24a
30 Holders of rec. Nov.30a
2 Holders of rec. Dec. 17a
2 Holders of rec. Dec. 17a
2 Holders of rec. Dec.15a
2
to
Jan.
3 Dec. 15
3
to
Jan.
3 Dec. 20
1
to
Jan.
1 Dec. 21
1
.o
Jan.
1 Dec. 21
1
1 Dec. 23
to
Jan.
1 Holders of rec. Dec. 21
1 Holders of rec. Dec. 10a
31 Holders of rec. Dec. 24a
2 Holders of rec. Dec. 5a
15
Jan
to
16 Jan.
1
10 Holders of rec. Dec. 28
to
Jan. 18
18 Jan.
8
9
to
Jan.
1 Dec. 18
1 Dec. 18
to* Jan. 9
3
1 Holders of rec. Jan.
1 Holders of rec. Dec.12a
Jan.
1
to
1 Dec. 20
1 Holders of rec. Dec.15a
2d Holders of rec. Dec.15a
5
1 Holders of rcc. Dec.
Jan.
2
31 Dec. 21
to
2 Holders of rec. Dec. 12a
2 Holders of rec. Dec.15a
2 Holders of rec. Dec. 15
2 Holders of rec. Dec.10a
2
2 Dec. 14
to
Jan.
Jan.
5
to
5 Dec. 25
3 Holders of rec. Dec.lEa
2 Holders of rec. Dec. 15
>
Banks.
.
Name of Company.
5
4
Portland(Ore.)Ry.,L. AP.,pf. (qu.) (No. 18)
Auction Sales.—Among other securities, the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
42
13
14
16
20
6
100
100
87
50
2
Per
Cent.
oj Company.
-
1908.
•
St. John
Hamilton
London
Victoria
Edmonton
Name
1611
State
West Side
— — r
Trust Companies.
Columbia (quar.)
Fulton (No. 37)
Guaranty (quar.)
Knickerbocker (quar.)...r
Lawyers’ Title Ins. ATr. (quar.) (No. 49). .
Long Island Loan A Trust, Brooklyn (qu.)
30
25
3
3
1
10
Manhattan
—
Extra
Mutual Alliance (quar.)..
Mutual of Westchester County (quar.)...
United States
Miscellaneous.
Acolian-Weber Piano A Pianola, pf. (qu.)
Amer. Beet Sugar, pref. (qu.) (No. 46)
Am. Brake Shoe A Fdy., com.Apref. (qu.)
Ameiican Can, preferred (quar.)
American Caramel, preferred (quar.)
Amer. Car A Fdy., com. (quar.) (No. 33)
Preferred (quar.) (No. 47)
American Chicle, common (monthly)..
American Cigar, preferred
American Express (quar.)
American Gas A Electric, common (quar.).
Preferred (quar.)
Amer. Iron A Steel Mfg.,com.A pf. (qu.)
American Locomotive, preferred (quar.) —
American Manufacturing (quar.)
American Piano, preferred (quar.).'
American Pipe A Construction (quar.)..
Amer. Pow. A Light pref. (qu.) (No. 5)..
American Radiator, common (quar.)
American Seeding Machine, common
Preferred (quar.) —
American Shipbuilding, preferred (quar.).
Amer, Smelting A Refining, com. (quar.)
Preferred (quar.) (No. 46).
American Snuff, common (quar.)
Common (extra)^
Preferred (quar.)—
Sugar Refg., com.Apref. (quar.) —
American Surety (quar.) (No. 86).
Am.
Extra.
American Thread, preferred
American Tobacco, preferred (quar.)
Amer. Type Founders, com. (quar.) —...
j
|
Preferred (quar.)
.:fa.._i_
American Woolen* pref. (quar.) (No.
47)1
2
2
3
4
2
3
5
6
2
5
8
3
3
3
3
3
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
lan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
25
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
IX
IX
elX
IX
Dec.
Jan.
Dec.
Jan.
IX
IX
2
X
IX
Jan.
Jan.
Jan.
1
Dec.1
3
$3
Jan.
Jan.
Jan.
Feb.
IX
IX
IX
IX
IX
IX
2
IX
2
X
IX
IX
I
IX
5
3
IX
IX
2X
5
2X
\*
IX
IX
3 Dec. 14
to
1 Dec. 20
to
3 Dec. 25
to
3 Holders of rec.
3 Holders of rec.
3 Holders of rec.
3 Holders of rec.
3 Holders of rec.
3 Holders of rec.
3 Holders of rec.
3 Holders of rec.
3 Dec. 24
to
to
3 Dec. 18
1 Dec. 16
to
to
3 Dec. 21
to
3 Dec. 23
3 Holders of rec
3 Holders of rec
3 Dec. 10
to
3 Dec. 16
to
31
3
31
31
3
2
3
3
3
31
3
Holders
Holders
Holders
Dec. 23
Dec. 18
Holders
Dec.
8
Dec.
8
31
3
31
2
2
2
2
20
3
3
2
1
Holders
Holders
Holders
Holders
Dec. 22
Holders
Holders
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
2
21
31
1
£
3
31
15
15
15
16
3
3
Jan.
3
fan.
Jan.
Dec.
Jan.
lan.
Jan.
Jan.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
2
Jan.
2
Jan.
2
Dec. 31
Dec. 31
Dec. 14
Dec.31a
Dec.31a
Dec.31a
Dec.31a
Dec.31a
Jan.
3
Jan.
2
2
2
3
Dec.31a
Dec. 24
Jan.
2
3
Jan,
Jan.
Jan.
Jan.
of rec. Dec.27a
of rec. Dec. 19
of rec. Dec.31a
2
Jan.
to
3
Jan.
to
of rec. Dec.l7a
Jan. lo
to
Jan. 10
2
Jan.
Holders of rec. Dec. 30
2
Jan.
to
Dec. 20
Dec.
to
to
23
Holders
Holders
Holders
Dec. 22
Jan. 22
Holders
Jan.
5
Holders
Dec. 11
Holders
Dec. 21
Dec. 23
Holders
Holders
Holders
Dec. 16
Dec. 16
Holders
Holders
Holders
Holders
rec. Dec. 24a
rec. Dec.21a
rec. Dec.16a
rec. Dec.16a
Jan.
1
to
of rec. Dec.12a
of rec. Dec.12a
of rec. Dec.14a
of rec. Dec.15a
of rec. Nov. 30a
Jan. ; 2
to
1
Feb.
to
of rec. Dec. 20a
Jan. 23
to
of rec. Dec. 15
Jan.
2
to
of
of
of
of
of rec.
to
to
of rec.
of rec.
of rec.
to
to
of rec.
of rec.
of rec.
of rec.
Dec.lEa
Jan.
3
Jan.
1
Dec.31a
Dec.31a
Jan.
5
Jan.
5
Jan.
5
Dec.15a
Deo.15a
3
Dec.15a
3
Deo. la
31 Dec. 16
Jan. 10
to
Jan. 10
31 Dec. 16
to
1 Nov. 18
Nov. 30
to
3 Holders of rec. Dec.10a
16 Holders of rec. Jan. 10a
16 Holders of rec. Jan. 10a
16 Dec. 22
to
4
Jan.
1612
THE CHRONICLE
;
IVOL.
LXXXXI
'
—
Name of
Per
Cent.
Company.
Miscellaneous (Concluded).
Telephone of Canada (guar.)
Brooklyn Union Gas (quar.) (No. 39)-.
Bell
2
IK
IK
IK
When
Payable.
Jan.
Jan.
Dec.
Jan.
Dec.
Jan.
Jan.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Books Closed.
Days Inclusive.
14 Holders of
3 Dec.
rec.
Dec.23a
Statement of New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week
ending Dec. 10.
The figures for the
separate banks are the averages for the
daily results.
In the case of the totals the actual
2
Jan.
Holders of rec. Dec. 20
Holders of rec. Dec.15a
at the end of the week are also
$7
Holders of rec. Nov.25a
For
and rules under which the various items
Jan.
1
IK
to
9
Jan.
1
are made
Jan.
1
9
to
Jan.
up, see
p.
IK
Holders of rec. Dec. 14a
2
Holders of rec. Dec. 14a
We omit two ciphers (00) in all cases.
Jan.
1
to
IK
Jan. 15
1
IK
Jan.
to
Jan. 15
Banks.
Capital. Surplus.
Loans.
Specie.
Holders of rec. Dec. 10i
Legals.
IK
ReDeposits.
00s omitted.
2
Average.
Holders of rec. Dec. 12a
Average. Average. Average. s’ve.
Holders of rec. Dec. 12 z
IK
S
$
2
$
S
$
Dec. 29
to
2
Jan.
$
%
Bank of N. Y._
2,000,0
3.624,1
19,835,0
K
Holders of rec. Dec. 20
3,614,0
917,0
17,467.0 25.9
Manhattan Co.
2,050,0
4,362,2
1
30,850.0
Holders
of
rec.
IK
6,526,0 1,667,0
Dec. 20
34,000,0 24.0
Merchants’
2,000,0
1,832,1
1 Dec. 16
18,387.0
IK
to
3,624,0
Jan.
1
991,0
18,152,0 25.4
Mech. A Metals
6,000,0
8,049,5
1 Dec. 16
51,271,4
to
IK
1
10,808,0
Jan.
1,123,0
48,241,6 24.7
America
City Investing, preferred (quar.)
1,500,0
6,006,3
22,916,9
3 Holders of rec. Dec. 24
4,037,4 1,657,6
IK
22.171,2 25.6
P hen l x
Columbus Gas A Fuel, preferred^quar.).
1,000,0
759,6
8,498,0
1 Holders of rec. Dec. 15a
1,896,0
IK
282,0
8,004,0 27.7
City
Columbus (O.) L., H. dk Pow., common
25,000,0
31,588,3
2
2 Holders of rec. Dec. 15a
171,792,4 34,205.8 5,460,0 156,097.8 25.5
Chemical
Preferred (quar.)
3,000,0
6,577,7
2
28,281,2
Holders
of
rec.
IK
4,970,5 1,819,7
Dec.15a
26.024,3 26.2
Merchants’ Ex.
Consumers’ Power, pref. (quar.)
600,0
602,6
3 Holders of rec. Dec. 19a
6,667,2
IK Jan.
1,537,6
203,4
6.730,1 25.8
Gallatin
Crucible Steel, pref. (quar.) (No. 29)
1,000,0
2,517,2
24 Holders of rec. Dec. 12a
8,416,3
IK Dec.
1,110,5
525,2
6,472,1 25.2
Butch. A Drov.
Cuban-American Sugar, pref. (quar.)
300,0
162,0
2,538.9
3 Holders of rec. Dec.15a
IK Jan.
499.0
80,5
2,236.2 25.9
Greenwtch
Detroit Edison (quar.)
500,0
845,4
16 Holders of rec. Jan. 3a
7,542,6
IK Jan.
1,898,8
205,0
8.454,5 24.8
American Exch.
Duluth Edison Elec., pref. (qu.)
5,000,0
4,252,9
Jan.
3 Holders of rec. Dec.20a
(No. 19)..
32,523,7
IK
5,240,1 2,440,0
30.394,3 25.3
Commerce
duPont(E.I.)de Nemours Pow., pf. (qu.)
25,000,0 16,601,4 143,288,9 23,811,0 6,546,4 118,793,1 25.6
25 fan. 15
IK Jan.
to
Jan. 25
Mercantile
du Pont Interoat. Powder, pref. (auar.)
3,000,0
2 Holders of rec. Dec.20a
2,723,8
14,672,5
1K Jan.
1,747,9
1,077,6
10,975,9 25.7
Pacific
Eastern Light dk Ftiel, com. (quar.)
500,0
2
927,8
Dec.
31 Holders of rec. Dec. 21
3,588,1
278,1
536,7
3,051,4 26.9
Chatham
Eastman Kodak, com. (quar.)
450,0
1,012,4
2 Holders of rec. Nov. 30a
2K Jan.
8,055,4
971,3
1,218,4
8,448,4 25.9
People’s
Common (extra)
200,0
2 K Jan.
480,3
2 Holdersof rec. Nov. 30a
1,810,1
482,3
148,5
2,113,7 30.0
Hanover
Preferred (quar.)
3,000,0
12,069,9
2 Holders of rec. Nov. 30a
61,628,8
IK Jan.
9.861.8 7,033,5
67,277,8 25.1
Citizens’ Central
Empire Steel dk Iron, pref. (No. 24)
2,550,0
2
1,713,2
Jan.
21,499,6
3 Dec. 21
to
5.025.7
Jan.
3
231,1
20,554,5 25.7
Nassau
General Chemical of California, 1st pref..
500,0
546,0
7,178,8
3 Holders of rec. Dee. 20
IK Jan.
589,1 1,059,6
7,693,1 29.4
Market A Fult’n
General Chemical, preferred (quar.)
1,000,0
1,749,1
3 Holders of rec. Dec.20a
IK Jan.
8.479,0
1,429,7
685,4
8,176,0 25.8
General Electric (quar.)
Metropolitan
2,000.0
1,518,8
2
Jan.
11,830,4
14 Holders of rec. Dec. 3a
3,062,1
243,9
12,347.9
26.7
Coro Exchange.
Goldfield Consolidated Mines (quar.)
3,000,0
5,429,2
30c.
Jan.
41,655,0
31 Holders of rec. Dec. 31
7,306,0 4,507,0
24.5
48,035,0
Extra
Imp.
A
Traders’
1,500,0
7.675,1
20c. Jan.
31 Holders of rec. Dec. 31
25,104,0
3,660,0 1,832,0
22,008,0 25.0
Park
Granby Cons. Min., Smelt. & Pow., Ltd
5,000,0
12,550,1
1
Dec.
78,195,0
30 Holders of rec. Dec.14a
19,168,0 1,407,0
80,096,0 25.6
East River
Great Lakes Towing, pref. (quar.)
250,0
111,9
1,418,4
3 Holders of rec. Dec. 15
IK Jan.
290,0
157,3
1,628.3 27.4
Fourth
Guggenheim Explor. (quar.) (No. 32)..
5,000,0
5,635,0
2 K Jan.
3 Dec. 15
28,424,0
4,490,0
to
2,400.0
Jan.
3
27,270.0 25.2
Second
Homestake Mining (monthly) (No. 433)-1,000,0
2,116,1
50c.
Dec.
12,656,0
24 Dec. 21
2,880,0
to
148.0
12,183,0 24.8
First
Ingersoll-Rand, preferred
10,000,0 20,913,1 100,344,9 19,267,2 1,621,9
3
1 Holders of rec. Dec. 10a
Jan.
86,354,3 24.1
Irving
Exch...
Intercontinental Rubber, common (quar.)
2,000,0
1
1.741,1
22,818.1
Feb.
1 Holders of rec. Jan. 20
4,680,1 1,409,3
23,827.4 25.5
Preferred (quar.)
Bowery
250,0
802,7
3,414,0
845.0
IK Dec. 31 Dec. 21
to
61,0
Jan.
2
3,577,0 25.3
N. Y. County..
Internat. Harvester, com. (qu.) (No. 4).
500,0
1,726,6
l
7.605,2
Jan.
1,271,9
14 Holders of rec. Dec.24a
635,9
7,560,7 25.7
German-Amer..
International Silver, pref. (quar.)
750,0
711,2
3,875,8
2 Dec. 20
IK Jan.
782.5
to
234,3
3.736,4 27.2
Jan.
2
Chase.
Preferred (extra)
5,000,0
8,108,3
73,540,6 14,554,9 5,075,6
2 Dec. 20
K Jan.
to
Jan.
78.117,2 25.1
2
Fifth Avenue..
Internat. Smokeless
100,0
2,170,6
Jan.
12.473,8
2 Holders of rec. Dec.20a
Pow.ACh.,com.(qu.)
K
2,193,6
1,318,6
25.2
13,895,4
La BeUe Iron Works (quar.)
German Exch..
200,0
901,3
2K
3,825,7
Dec.
31 Dec. 24
485,2
530,9
to
Jan.
1
4,008,6 25.3
Germania
Lanston Monotype Machine (quar.)
200,0
1,023,4
4,960,8
IK Dec. 30 Holders of rec. Dec. 23
887,4
508,9
5,656,5 24.6
La Rose Consolidated Mines
Lincoln
1,000,0
1,563,1
2
(quar.)
13.821,9
Jan.
20 Jan.
2,692,6
1
to
908,2
Jan. 17
14,384,6 25.0
Garfield
Mackay Companies, com. (quar.)(No.22).
1,000,0
1,208,7
7,908,1
iJan.
1,714,8
3 Holders of rec. Dec.10a
IK
461,7
7,974,2 27.2
Fifth
Preferred (quar.) (No. 28)
250,0
510,4
l
3,376,9
Jan.
3 Holders of rec. Dec. 10a
521,5
335,5
3,464,9 24.7
Massachusetts Gas Cos., com. (quar.)..Metropolis
1,000,0
2,088,4
1
11,588,9
Feb.
1 Holders of rec. Jan. 18a
1,536,1 1,414,1
25.5
11,566,3
West Side
May Department Stores, pref. (quar.)
200,0
1,051.5
4.012,0
1 Holders of rec. Dec. 20
IK Jan.
924,0
226,0
4,432,0 25.9
Seaboard
Mergenthaler Linotype (quar.).
1,000,0
1,977,2
2K
20,547,0
Dec.
31 Holders of rec. Dec. 10a
4,448.0 1,691,0
23,718.0 25.8
Extra
Liberty
1,000,0
2,719,9
5
17,441,1
3,986.8
Dec.
31 Holders of rec. Dec. 10a
912,7
18,085,2 27.0
N. Y. Prod. Ex.
Michigan State Telephone pref. (quar.)..
1,000,0
735,6
7,821,6
1 Jan. 15
IK Feb.
2,187.2
185,0
to
Feb.
9,445,5 25.1
1
State
Monongahela River Cons. Coal dk Coke, pf. $1
1,000,0
893,2
15,247,0
Jan.
25 Jan. 13
4.385.0
to
313.0
Jan. 24
18,675,0 25.0
14th Street
National Biscuit, com. (quar.) (No
1,000,0
311,2
5,914,1
49)
1,145.8
Jan.
IK
14 Holders of rec. Dec.28a
579,0
6,579,0 26.2
Coal A Iron
National Enamel A Stamp.,
1,000,0
408,9
5,812,0
pref. (quar.)
731,0
Dec.
31 Dec. 11
IK
852,0
to
5,935.0 26.6
Jan.
2
Union Exch
National L»ad. common
1,000,0
970,7
(quar.)
8,780,5
1,258,3
K Dec. 31 Dec. 10
945,0
to
8,649,9 25.4
Dec. 13
National Licorice, pref. (quar.) (No.
34)..
IK Dec. 31 Dec. 28
to
Jan.
2
National Sugar Refining, pref.
Totals, Average 133,350,0 196,577,1 1234,134,6 235,519,6
(quar.)
IK Jan.
3 Holders of rec. Dec. 20
66.824,3 1194,740,3 25.3
Actual figures Dec. 10.
National Surety (quar.)
2
1226.327.6 234,583,0 67,985,5 1187,426,7 25.5
Jan.
3 Dec. 24
to
Jan.
3
Nevada Consolidated Copper (quar.)
17 Kc. Dec.
31 Dec. 10
to
Dec. 18
New England Teleph. A
Teleg. (auar.)..
IK Dec. 31 Holders of rec. Dec. 15
On the basis of averages, circulation
amounted to $48,483,600 and United States
Niagara Falls Power (No. 4)
2
Jan.
16 Holders of rec. Jan. 2a
deposits (Included In deposits) to $1,668,500; actual
NUes-Bement-Pond, common (quar.)
figures Dec. 10, circulation,
IK Dec. 20 Dec. 1
to
Dec.
20
$48,453,600; United States deposits, $1,677,000.
Nipissing Mines (quar.)
5
Jan.
20 Jan.
1
to
Jan.
17
Extra
2K Jan.
20 Jan.
1
to
Jan. 17
The State
North American Co. (quar.)
now furnishes
2 Holders of rec. Dec.15a
IK Jan.
Old Dominion
of the State banks and trust
returns
Steamship (No. 70)
3
fan.
3 Dec. 21
to
Jan.
2
Onderdmk Estate, common
its
5
fan.
1
returns cover all the
Preferred
of this class
3K
Jan.
1
Osceola Consolidated Mining
in the whole
84Jan.
26 Holders of rec. Dec.31a
are
Otis Elevator, pref.
so as to
(quar.)
IK Jan.
16 Holders of rec. Dec. 31
the results for New York
Phelps, Dodge A Co. (quar.)
Dec.
30
2K
Holders of rec. Dec.20a
Extra
New
2
for the rest of the
Dec.
30 Holders of rec. Dec.20a
as per
Pittsburgh Plate Glass, com. (quar.).
IK Dec. 31 Dec. 16
to
Jan.
1
Public Securities, 1st preferred
Jan.
1 Holders of rec. Dec. 24
3K
For definitions and rules under which the various items
Quaker Oats, com. (quar.)
2
Jan.
16 Holders of rec. Jan. 3a
are
Common (extra)
made up, see
K Jan.
16 Holders of rec. Jan. 3a
p.
Preferred (quar.)
IK Feb. 28 Holders of rec. Feb. la
Quincy Ml.dng (quar.)
STATE BANKS AND TRUST COMPANIES.
$1
Dec.
19 Nov. 27
to
Dec.
4
Railway Steel-Spring, pref. (quar.)
IK Dec. 20 Dec. 8
to
Dec. 20
Realty Associates (No. 16)
3
fan.
14 Holders of rec. Jan.
5
S ate Banks
Trust Cos.
Republic Iron A Steel, pf. (qu.) (No. 36).
State Banks
Trust Cos.
IK Jan.
2 Holders of rec. Dec.17a
Week ended Dec. 10.
in
in
Royal Baking Powder, common
outside of
outside of
3
(quar.).
Dec.
31 Holders of rec. Dec. 15a
Greater
N.
Y.
'greater N. Y. Greater N. Y. Greater N. Y.
Preferred (quar.)
IK Dec. 31 Holders of rec. Dec. 15a
Safety Car Heating & Lighting (quar.)_.
2
Dec.
23 Holders of rec. Dec.10a
S
Extra
$
S
S
3
Dec.
23 Holders of rec. Dec. 10a
Capital as of Nov. 10
Sears, Roebuck A Co., pref.
25,275,000
65,406,000
*8,998.000
*9,075,000
(quar.)
fan.
1 Holders of rec. Dec.
IK
15a
Securities Company
14 Jan.
2K Jan.
1
to
Surplus as of Nov. 10
Jan. 15
39,391,800
Shelby Iron..
174.583,300 *10,891,650
*9,817,991
2K
Jan.
10 Dec. 28
to
Jan. 10
Sloss-Sheffield Steel dk Iron, pref. (qu.)
IK Jan.
3 Holders of rec. Dec.20a
Loans and Investments..
South Porto Rico Sugar, common
290,496,300 1.013.462,200
95,533,300
l
143,206,500
(quar.)
Jan.
3 Dec. 23
to
Change from last week.
Jan.
3
Preferred (quar.)
+ 2,390.700
+ 5,433,700
+ 145,100
+ 434,200
2
Jan.
3 Dec. 23
to
Jan.
3
Standard Coupler, common
2
Dec.
24 Dec. 20
to
Specie
Jan. 10
46,238,100
Preferred
111,249,800
4
Dec.
24 Dec. 20
to
Jan. 10
Change from last week.
Standard Gas Light, N. Y., common
—2,222,100
—448.200
2
Dec.
31 Dec. 21
to
Jan.
2
Preferred
3
Dec.
31 Dec. 21
to
A
Jan.
Legal-tenders
bk.
notes
2
Standard Screw, com. and pref
23.741,300
13,053,300
3
Jan.
1 Holders of rec. Dec.15a
Change from last week.
—374,000
+ 214,500
Subway Realty (quar.).
IK fan.
3 Holders of rec. Dec.24a
Swift A Co. (quar.) (No.
97)
fan.
2 Dec. 18
IK
to
Deposits
Jan.
5
Texas Company (quar.).
332,807,800 1,042,277.300
101,444,300
149,641,500
2K Dec. 31 Holders of rec. Dec.15a
Change from last week
—445,900
Texas A Pacific Coal (quar.)..
+329,300
+ 1,297,900
—8,604,300
IK Dec. 31 Dec. 21
to
Jan. 2d
Toning ton Company, preferred
3 K Jan.
2 Dec. 21
to
Reserve
on deposits
Jan.
1
92.341,400
Underwood Typewriter, pref. (quar.)
129,912.700
20,681,900
21,478,900
fan.
IK
1 Holders of rec. Dec.20a
Change from last week.
Union Bag dk Paper, pf.
—1,993,900
—618,100
—153.400
+ 774,400
(qu.) (No. 47)...
1
Jan.
16 Holders of rec. Dec.31a
Union Switch A Signal, com.A
3
Jan.
pref. (qu.).
10 Dec. 31
P. C. reserve to deposits.
to
Jan. 10
Com. dk pref. (special) payable in com.stk
28.3%
15.6%
21.2%
15.0%
Jan.
60g
10 Dec. 31
to
Jan. 10
Percentage last week..
United Bank Note Corp.
28.9%
15.7%
21.4%
14.6%
pref. (quar.)
IK Dec. 31 Dec. 16
to
Jan.
2
United Fruit (quar.) (No.
46)
2
Jan.
14 Holders of rec. Dec. 24
United Gas Improvement
(quar.)
2
Jan.
14 Holders of rec. Dec.
4- Increase over last week.
31
United Shoe Machinery, com.
— Decrease
from last week.
* As of Aug. 31.
2
(quar.)
Jan.
5 Holders of rec. Dec.
20
Preferred (quar.)..
Note.—“Surplus”
Includes
all
undivided profits.
Jan.
“Reserve on deposits” In¬
IK
5,Holders of rec. Dec. 20
U. S. Finishing, com.
cludes, for both trust companies and State banks, not only cash items, but
(quar.) (No. 8)
l
Jan.
2 Holders of rec. Dec. 21
amounts
Prefened (quar.) (No. 46)
due from reserve agents.
Trust companies in New York State are required
IK Jan.
2 Holders of rec. Dec. 21
by
U. 8. Steel Corp., com.
law
to keep a reserve proportionate to their
(quar.) (No. 28).
Dec.
30 Deo.
deposits,
the
ratio
IK
2
varying
to
according
Dee. 14
Utah Cooper (quar.) (No.
to location as shown below.
The percentage of reserve required is
10).
75c.
Dec.
31 Dec. 17
to
computed
on
Dec. 20
Van Dyck Estate, common
the aggregate of deposits, exclusive of
3
moneys held In trust and not payable within
Jan.
1
Preferred (quar.).
thirty days, and also exclusive of time deposits not payable within 30 days,
1
IK Jan.
Ver Planck Estate, common
s2iited
by certificates, and also exclusive of deposits secured by bonds of the repre7K
Jan.
1
State
Preferred
of New York.
The State banks are likewise required to keep a
3 K Jan.
1
reserve
Va.-CarolinaChem., pref. (quar.) (No. 61)
according to location, the reserve being computed on the whole amount of varying
2
Jan.
16
Jan.
i
to
Jan.
deposits
15
Western Electric Co
exclusive of time deposits not payable within 30 days, represented
1 1-3/ Dec.
31 Dec. 25
to
by
Dec. 31
Extra
(according to the amendment of 1910) and exclusive of deposits secured certificates
2
Dec.
31 Dec. 25
to
by bonds
Dec. 31
Western Union Telegraph (qu.) (No.
of the State of New York.
167).
K Jan.
16 Holders of rec. Dec.20a
Westinghouse Air Brake (quar.)
2 K Jan.
—Trust
Cos.—
10 Dec. 31
-State
to
BanksJan. 10
Extra
Reserve Required for Trust Companies
Total
10 Dec. 31
IK Jan.
Of
Total
to
Jan. 10
Of
Special
and State Banks.
l
Reserve
Jan.
which Reserve
10 Dec. 31
to
Jan.
irhich
10
Yukon Gold (quar.) (No. 6)
Location—
10c.
i
Dec.
31 Dec. 14
Required
to
in
Cash.Required.
Jan.
Cash.
2
Buftalo Gen. Elec., com. (quar.)(No. 65)
Butte Electric A Power, common
(quar.)
Calumet A Hecla Mining (quar.)
Canadian Westing house (quar.) (No. 24)..
Extra
Celluloid Company (quar.)
Extra
Central Coal dk Coke, com. (quar.)
Preferred (quar.)
Central Leather, preferred (quar.)
Chic. June. Rys. A U. Stk. Yds.,com.(qu)
Preferred (quar.)
Chicago Telephone (quar.)
Cities Service, common (No. 1)
Preferred (No. 1)
Citizens’ Gas of Indianapolis (No. 1)
Dividend No. 2
18
to
30
3
22
10
10
31
31
14
14
3
3
3
31
1
figures
given.
definitions
“Chronicle,” V. 85,
836.
..
....
.
.
..
...
....
Banking Department also
weekly
companies under
charge. These
institutions
State, but the figures
compiled
distinguish between
City (Greater
York) and those
State,
the
following:
“Chronicle,” V. 86,
316.
*
*
,
Manhattan Borough
Transfer books not closed,
b Less income tax.
d Correction,
e Declared
both common and preferred stocks,
7%
payable in quarterly installments. /Two
months’ dividend on account of
change In dividend period from Q.-F. 1 to Q.-M. 31
a
on
Payable In
common
stock.
15%
Brooklyn Borough (without branches In Manhat.).15%
Other Boroughs (without branches in Manhattan).
15%
Brooklyn Borough, with branches In Manhattan.. 15%
Other Boroughs with branches in Manhattan
.15%
Elsewhere In
State...........................10%
15%
10%
10%
15%
15%
5%
25%
20%
15%
20%
15%
15%
15%
10%
7K%
20%
15%
6%
Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House.
These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks.
In addition, we have combined each corre¬
The
thus affording an
trust companies in
sponding item in the two statements,
aggregate for the whole of the banks and
the Greater New York.
NEW YORK CITY
BANKS AND TRUST COMPANIES.
Clear.-House
Banks.
Week ended Dec. 10.
AclualFigures
Banks & Trust
Cos. Average.
133,350,000
of Nov. 10—
196,577,100
196,577,100
208-081,000
74,731,000
379,747,100
183.170.000
1,187,426,700 1.194,740,300 al.052,135,800 2,246,876,100
Deposits
+953,600
+5,551,100
—4.597.500
Change from last week —18,116,900
117,958,700
—447,700
353,478,300
—8,516,800
Specie
Change from last week
234,583,000
—4,217,400
235.519.600
—8,069,100
Legal-tenders
Change from last week
67,985,500
+351,500
66,824,300
—1,298,500
621,337,000
+ 177,000
88,161,300
—1,121,500
Aggr’te money holdings
Change from last week
302,568,500
—3,865,900
302,343,900
—9,367,600
C139,295,700
—270,700
441,639,600
—9,638,300
23,996,800
+ 157.500
23,996,800
+ 157,500
163,292,500
—113.200
465.636,400
—9,480,800
bks. A trust COS.
302.343.900
—9,367,600
302,568,600
—3,865,900
—
Change from last week
Percentage to deposits
requiring reserve
Percentage last week. _
week.
—
55,465,0
252,431,0
55,465,0
55.465.0
55,465,0
252,029,0
252,395,0
253,075,0
3,904,0
a
$
23,708,0
22.749.0
22,056,0
3,803,0
3,936.0
3,810,0
69,943,0
71,029,0
70.644,0
68,372,0
$
-
7,981,0
187,550,6
7,977,0
7,940,0
7,993,0
135,073,3
168.544,4
306,020,0 16,078,0
167.889.8
302,701,0 15,873,0
303.421.0 15,755,0
300,158,0 15,743,0
130,869,8
166,807,3
146,165,5
245.558,0
237,844,0
241,325,0
237,157,0
the item "due to other banks.”
Including Government deposits and
amounted to $3,086,000 on December 10, against
Government deposits
on December 3.
162,071.7
At Boston
$3,049,000
following are
Dec. 10; also
beginning of the first week in January.
Imports and Exports for the Week.—The
imports at New York for the week ending
the
totals since the
FOREIGN IMPORTS AT NEW YORK.
1907.
1908.
1909.
1910.
For week.
$3,259,825
13,354,152
$3,664,346
18,894,244
$3,986,171
14,687,857
$2,803,048
6,705,219
$16,613,977
$22,558,590
$18,674,028
$9,508,267
Dry Goods.
General Merchandise
$149,061,985 $159,688,215 $120,258,661 $174,514,827
707,810.099 674,200,740 488.998,103 622,788,838
Dry Goods
General Merchandise
$856,872,084 $833,888,955 $609,256.764$797.303,665
Total 49 weeks
following is
statement of the exports (exclusive
a
Dec. 10 and from Jan. 1 to date:
$15,243,185
578,361,310
$14,486,009
638,025,408
For the week
Previously reported
1907.
1908.
1909.
1910.
$15,795,539
588,550,698
$14,203,835
598,138,706
$652,511,417 $593,604,495 $604,346,237 $612,342,541
Total 49 weeks
averages
follows for
a
series of weeks past:
We omit two
Loans and
Investments.
Week
Ended.
following table shows the exports and imports of
specie at the port of New York for the week ending Dec. 10
and since Jan. 1 1910 and for the corresponding periods in
^
The
1909 and 1908:
EXPORTS
Specie.
Deposits.
Legals.
Holdings.
$
$
$
$
2.309.843.3 2,232,760,3
2.326.766.7 2.245.922,5
2,337.587,5 2,246.876.1
365.901.8
361.995.1
353,478,3
on
371.151.9
367.935.1
364.544.7
357.466.7
355.905.1
363,380.5
$
We omit two ciphers
Capi¬
Sur¬
tal.
plus.
489.103.9
484.935.4
480,663.0
477.425.5
470.422.9
467.943.4
474.847.4
478.744.6
475,117.2
465.636.4
462,147,6
459.516.1
456.416.1
453.870.2
445.697,1
443.797.3
451.719.5
455.731.4
451.277,9
441.639.6
87.948.8
88.364.2
88,481,0
89.325.5
88,230,4
87.892.2
88,339,0
89.829.6
89.282.8
88.161.3
(00) in all these figures.
Loans,
Legal
Disc'is
and
Invest¬
Tender
and
Bank
Notes.
Specie.
ments.
N. Y. City
Boroughs of
Century
Colonial
Columbia.
_
...
Jefferson
Mt. Morris.
Mutual....
Plaza
23rd Ward.
Yorkville..
New Neth'd
Batt.Pk.Nat
Aetna Nat.
Borough of
Brooklyn.
Broadway
.
Mfrs.’ Nat.
Mechanics’..
Nassau Nat.
Nat. City..
North Side.
First Nat..
100,0
250,0
400,0
300,0
200.0
500,0
250,0
200,0
100,0
200,0
100,0
200,0
200,0
300.0
200,0
252,0
1,000,0
750,0
300,0
200,0
300,0
$
274,3
155,6
391,4
775,3
172,5
637,5
313,9
379.5
462.0
110.6
482,0
259,8
164.0
315,7
$
1.215,0
1,382,7
5,691,4
6,223,0
1,067,6
2,971,5
2,552,6
3,352,9
4,257,0
1,821,6
4,005,3
2.396,0
1,630,3
2,084,4
534,2 3.255,2
838,4 5.476,8
882,0 11,243,2
1,018,1 6,851,0
614,9 3,782,0
149,5 2,099,7
623,9 3,333,0
Jersey City.
First Nat..
Hud. Co. N.
Third Nat—
Hoboken.
First Nat..
Second Nat.
$
138,0
33,7
872,1
622,0
80,5
170,1
473,4
35,7
351,0
162,1
73,9
244,0
218.2
424,0
$
44,0
163,9
447,2
578,0
86,1
325,4
27,2
599,0
375,0
53,4
710.2
81,0
47,9
35,5
374,7
28,3
215.3
445,7
362,2 1,249,0
303,0
597,0
537,0
106,0
145,5
121,6
83,0
313,0
Deposit with
Clear¬
Other
ing
Agent.
Banks, Deposits.
$
125,0
64,5
677,8
703,0
122,0
291,3
309,4
552,4
681.0
259,3
228,5
233,0
55,7
30,4
353,9
848,6
1,459,5
1,325,0
654,0
214.0
419,0
Net
<kc.
$
16,0
119,2
291,2
82,0
662,6
98,9
.
•
.
•
261,4
24.0
-
-
27,9
$
1,165,0
1.441,1
7,187.9
7,070,0
1,096.2
3,746,9
3,239,9
4,200,3
5,192,0
1,998,6
5.092,3
2,539,0
1,363,7
1,959,3
143,0 3.558,2
135,9 5,810.7
226,0 14,449.3
7,124,0
191,0 4,825,0
88.7 2.419,3
38,0 3,018,0
_
_
_
400.0
250.0
200,0
1,264,0
763,1
400,9
5,131,9
3,090,3
2,091,7
283.8
147,3
47,5
532,6
220,0
125,0
626,0
267.4
3.081,3
2,832,6
145,7
115,6
15,5
85,0
55,1
133,1
2,363,1
364,0
380,0
144,0
126.4
19,4
6,993,9
2,689,7
2,269,7
168,7
33.7
80.0
138,3
2,770.2
2,866,4
'
SinceJan.l.
$27,458
Germany
.
$35,710
3,000
West Indies
Mexico
South America
4,455
3.488.727
3,000
9,568,766
41,900
$38,710 $45,256,848
1,978,000 93,128,617
830 49,997,055
Total 1910
Total 1909
Total 1908
36,850
450
61,198
60,398
$13,469,736
3,615,837
592.340
295,175
2,216,079
1,659,845
$186,354 $21,849,326
8,716,582
340,186
279.213 16,501,340
Silver.
57,825
7,946
4.104
1,658
31,003
45,749
$18,844
7.179
13,310
82,251
1,725,685
1.250.815
1,503.327
$1,003,048 $40,504,085
538,432 41,706,734
681,954 40,545,550
$83,974
77,576
456,519
$4,595,911
5.028.315
4,295.795
$927,782
37,800
27.263
Great Britain
France
Germany
37,449,116
2,291,700
3
West Indies
Mexico
South America
All other countries
__
_
1,460
623.701
73,797
.
10.000
200
Total 1910
Total 1909
Total 1908
imports for the week in 1910, $37,525 were
gold coin and $4,016 American silver coin. Of
the exports during the same time, $38,710 were American
gold coin and $203 were American silver coin.
Of the above
American
gauMufi and ffitraujciaL
Railroad and Industrial Stocks
Let us send you our circular
road and Industrial Stocks.
describing 110 ISSUES of listed Rail¬
Spencer Trask & Co.
_
PLACE.- - - NEW YORK.
Albany, N.
Boston. Mass.,
New York Stock Exchange.
43 EXCHANGE
Chicago, Ill..
Members
Members New York Stock
ft NASSAU
STREET.
NEW YORK
Y.
CO.
WHITE, WELD &
12,777,6 92.820.0 6,636,3 7,278,6 12,916,8 2,913,9 106086,6
12,777,0 92.120.2 6,617,3 7,167,7 11,545.6 2,722,5 103688,4
Tot.*Nov.26 7,497,0 12.777,0 92,413,0 6,603,7 7,005.1 11.794,4 2,749,5 103817.9
Imports.
Week.
$32,150,000
Great Britain
France
i
Tot.’Dec. 10 7,497,0
Tot .‘Dec. 3 7,497,0
AT NEW YORK.
SinceJ an.1.
Week.
Reports of Clearing Non-Member Banks.—The following
condition of the clearing non-member
banks for the week ending December 10, based on average
daily results:
$
SPECIE
Exports.
Deposit.
is the statement of
Man.dk Brx.
Wash. Hgts
OF
Gold.
374.198.8
Banks.
IMPORTS
AND
Tot. Money Entire Res.
$
—
IN
ciphers in all these figures.
-8__ 2.387.881.5 2.316.630.7
15— 2.382.131.5 2.306.865.9
22— 2.365.975.6 2.287.487.9
29— 2.358.583.6 2.273.641,0
6— 2.361.563.2 2.271.515.7
12— 2.340.467.7 2.248.637.7
19— 2.309.880.1 2.227.664.7
263
10--
COMPANIES
RESULTS OF BANKS AND TRUST
GREATER NEW YORK.
COMBINED
Fidelity
24.021.0
Clearings.
EXPORTS FROM NEW YORK FOR THE WEEK.
of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New Yorlc outside of the Clearing-House compare
Oct.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.
199.744.0
199.846.0
from reserve depositories
with this Item included,
deposits amounted to $1. 154,748,000, a decrease of $7,832,200 from last week. In
the case of the Clearing-House banks, the deposits are “net” both for the average
and the actual figures,
b Includes bank notes, c Of this amount State banks
held $14,992,600 and trust companies $124,303,100.
as
40.200,0
40,200.0
Decrease from last week.
These are the deposits after eliminating the Item “Due
and other banks and trust companies In New York City”:
The
Phila.
Nov. 19Nov. 26..
Dec
3..
Dec. 10..
200,954,0
199,385,0
$
$
$
$
$
40,200,0
40,200,0
week ending
a
Circu¬
lation.
a
of
specie) from the port of New York to foreign ports for the
3.658.825
5,711,825
ftnrpl hr reserve
+ Increase over last
Boston.
Nov. 19-Nov. 26..
Dec.
3..
Dec. 10..
The
17.3%
17.4%
25.34%
26.01%
25.51%
25.45%
Deposits,
Legals.
Specie.
Loans.
and
Surplus.
Since Jan. 1.
Change from last week
Total reserve
Capital
Banks.
Total
Money on deposit with
ciphers (00) in all these figures
We omit two
1,103.452,900 2,337,587,500
+ 5.766,700
+ 10,820,800
Loans and Investments 1,226,327,600 1,234,134.600
Change from last week —14,248,200 1 +5,054,100
nt.hpr
Philadelphia Banks.—Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
Boston and
$
$
$
$
133,350,000
as
Total of all
Clear.-House State Banks &
Trust Cos. not
Banks.
in C.-H. Aver.
Average.
Capital as of Nov. 10-Surplus
1613
THE CHRONICLE
Deo. 17 1910.
Exchange.
THE
ROOKERY;
OHIOAGO
1614
THE CHRONICLE
Bankers’ (Saxette.
Wall Street, Friday Night, Dec. 16 1910.
Money Market and Financial Situation.—So little has
occurred this week affecting the
security markets that any
accurate review of the week’s
operations in Wall Street must
necessarily be rather uninteresting.
The demands of railway
engineers on some of the Western
roads was viewed with apprehension
early in the week, but
general belief that the question will be submitted to arbi¬
tration has developed, and the
importance of the matter as
a market influence is
very much reduced.
Later the Government report of international trade for
November, which showed results similar to that issued for
a
October,
more
was
favorably received in banking circles, and makes
will be
certain the fact that the balance for the
year
favorable to this country than a few months
ago
possible.
seemed
Attention has been drawn to the bond market
by a sharp
advance in Central of Georgia issues, as
noted below. This
movement has given rise to some discussion and more or less
vague estimates as to probable bond market possibilities
in the near future.
Money market conditions at home and
abroad seem to make possible a more active bond market
after the yearly settlements have been
completed; but that
a normal investment demand for
any class of securities will
develop under present industrial conditions appears to be a
matter of doubt.
The local money market has been less firm than last
week
and unusually dull for the season.
It is reported that nego¬
tiations for gold imports have been
considered, but it is
generally well understood that the Bank of England would
not favor such a movement at this
time, although the per¬
centage of the Bank’s reserve is well above the average for
the
season.
The open market rates for call loans at the
Stock Exchange
on stock and bond collaterals have
during the week
ranged
from 2% to 3%%.
To-day’s rates on call were
Commercial paper quoted at 4 %@5% for 60 to 3@3%%.
90-day en¬
dorsements, 4%@5% for prime 4 to 6 months’ single names
and
5%@5%% for good single
names.
The Bank of England weekly statement on
Thursday
showed a decrease of bullion of
£549,593 and the percentage
of reserve to liabilities was
50.01, against 50.58 last week.
The rate of discount remains
unchanged at 4%%, as fixed
Dec. 1.
The Bank of France shows a decrease of
225,000
francs gold and an increase of 2,050,000 francs silver.
NEW YORK CITY CLEARING-HOUSE
1910.
Averages for
week ending
Dec. 12.
previous week.
$
$
Capital
Surplus
133,350,000
196,577,100
Loans and discounts
1,234,134,600
Circulation
48,483,600
Net deposits...
1.194,740.300
U. S. dep. (incl. above)
1,668,500
Specie
235,519,600
Leg&l tenders
66.824,300
Reserve held
25% of deposits
Surplus
Differences
from
?
Inc.
Inc.
Dec.
Dec.
Dec.
Dec.
BANKS.
1909.
Averages for
week ending
1908.
Averages for
week ending
Dec. 11.
Dec. 12.
$
S
127.350,000
126.350.000
180,024,400
165,322,700
5,054,100 1,181,994,200 1,339.547,400
34,600
52,887,800
46,489,000
4,597,600 1,159,110,000 1,408,597,900
2,400
8,069,100
1,298,500
1,678,400
230,841,600
68,898,100
9,200.700
'
289.966,800
79,082,300
302,343,900 Dec.
298,685,075 Dec.
9,367,600
1,149,375
299.739,700
289,777,500
369,049,100
352,149,475
3,658,825 Dec.
8,218,225
9.962,200
16.899.625
4,075,950 Dec.
8,218,825
10,381.800
19,199,800
reserve
$1,000 premium. Boston, par. San Francisco,
$1,000 premium. New Orleans, commercial, $1
per $1,000 discount; bank, $1 per $1,000
premium. Sa¬
vannah, buying, 3-16c. per $1,000 discount; selling, par.
St. Louis, par
bid; 10c. per $1,000 premium asked. Charles¬
ton, buying, par; selling, l-10c. per $1,000 premium. St.
Paul, 85c. per $1,000 premium. Montreal, 15%c. per
$1,000 discount.
State and Railroad Bonds.—Sales of State bonds at
the
Board include $1,000 New York Canal 4s at
$3,000
104%,
Tennessee settlement 3s at 95% and
$11,000 Virginia 6s at
38% to 42.
There has been somewhat more
activity in the market for
than for some time past, due
largely to an
unusual demand for a few issues.
Central of Georgia 1st,
2d and 3d incomes have been the
conspicuous feature. The
transactions in them have
aggregated a very large amount
and they advanced from 10
points in case of the lsts to 15
points in the 3ds on a decision by the Supreme Court of the
State of Georgia favorable to the
bondholders.
United States Bonds.—No sales of Government
bonds
have been reported at the Board this week.
The following
railway bonds
are
page
the
daily closing quotations; for yearly
following.
Interest
Periods
2s,
2s,
3s,
3s,
48,
4s,
2s,
1930
registered Q—Jan
1930
coupon Q—Jan
1908-18
registered Q—Feb
1908-18
coupon Q—Feb
1925
registered Q—Feb
1925
coupon Q—Feb
1936.Panama Canal regls Q—Feb
2s, 1938.Panama Canal regls Q—Nov
Note.—The Clearing House now
condition of the banks on
Saturday
figures, together with the returns of
State Banking Department
giving
panies not reporting to the Clearing
issues
statement weekly showing the
actual
morning as well as the above averages. These
separate banks, also the summary issued
by the
the condition of State banks and trust com¬
House, appear on the second page preceding.
a
Foreign Exchange.—The tone was somewhat weaker at
was during the
previous two days.
To-day’s (Friday’s) nominal rates for sterling
exchange
were 4 83 for sixty-day
and 4 86 for sight.
To-day’s actual
rates for sterling
exchange were 4 8220@4 8230 for
days, 4 8530@4 8535 for cheques and 4 8565@4 8575sixty
for
the close to-night than it
cables.
Commercial on banks 4 81 %@4 82
% and docu¬
payment 4 81 % @4 81%. Cotton for payment
80% and grain for payment'4 81 %@4 81 %.
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 22%@5
21% less 1-16 for long and 5 20 less 1-16@
ments for
4 80%@4
5 20 less 1-32
94 5-16@94%
short.
short.
for short.
Germany bankers’ marks were
for long and 95 1-16 less l-32@95 1-16 for
Amsterdam bankers’ guilders were 40 21
@40 23 for
Exchange at Paris
on London, 25f. 27%c.; week’s
high and 25f. 26 %c. low.
Exchange at Berlin on London 20m. 43pf.; week’s
20m. 45%pf. high and 20m.
42%pf. low.
The rate of foreign
exchange for the week follows:
25f. 28 %c.
Sterling Actual—
High for the week
Sixty Days.
4 825*
Low for the week.
4 82
Paris Bankers' Francs—
High for the week.
5 21 ^ less 1-16
Low for the week
5 22}* less 1-16
Germany Bankers’ Marks—
High for the week
94 7-16
Low for the week
94}*
Amsterdam Bankers’ Guilders—
High for the week
40 02
Low for the week
39 98
The
following
undermentioned
range
range
Cheques.
Cables.
4 85 hi
4 8490
4 8595
4 85}*
5 20 less 1-16
5 20** less 3-32
5 19** less 1-16
5 20** less 1-32
95 1-16
94}*
95 3-16
94 15-16
40 25
40 16
40 30
40 21
the rates for domestic exchange at the
cities at the close of the week:
Chicago,
are
Dec.
!1
Dec.
12
10
range see
Dec.
Dec.
13
14
Dec.
15
third
Dec.
16
*1005* *1005* *1005* •1005* *1005* *1005*
*1005* •1005* *1005* *1005* *1005* •1005*
*102
•102
*102
*102
*102
*102
*102
*102
*102
*102
*102
*102
*115}* *115}* *115}* *115}* *115}< *1155*
*115}* *115}* *115}* *1155* *115}* *1155*
*100}* *100}* *100}* *100}* *100}* *1005*
l
*
This is the price bid at the morning
board; no sale
was
made.
Railroad and Miscellaneous Stocks.—The stock
market
has been unusually dull
and steady. The transactions
diminished to a trifle less than 226,000 shares on
Thursday,
have been but little larger
to-day, and fluctuations have,
practically every case, been so narrow as to be of little or
no significance.
The lowest prices of the week were
recorded on Tuesday, since which there has beengenerally
a little
firmer tendency and in a
majority of cases quotations are
fractionally higher than last week.
Lehigh Valley has been exceptional in having covered a
range of 3 points and closing with a net gain of 2%.
Interboro-Metropolitan has been more active than usual and
the preferred has advanced over a
point on the interest
which attaches to new
subway projects. Reading, Norfolk
& Western, Great Northern, Beet
Sugar and International
Harvester are substantially
higher.
On the other hand,
Chesapeake & Ohio, Erie, Rock Island,
Amalgamated Copper, Consolidated Gas and U. S. Steel
common are fractionally lower.
For daily volume of business see
page 1624.
The following sales have occurred this week of shares not
in
represented in
our detailed list
STOCKS.
Week ending Dec. 16.
Sales
Am Brake Shoe &
Fdry.
Batopiias Mining
Evansville & Terre H'te
General Chemical, pref
New York Dock, pref...
North Ohio Trac & Light
Pacific Tel & Tel, pref..
St L & S F-C A E IU new
stock trust certfs
South Porto Rico Sugar.
.
on
the pages
Range for Week.
far
Week.
.
Surplus, excl. U.8. dep.
KXXXXI
5c. per
30c. per
The
more
JVol*
Lowest.
20
200
58
90
Dec 10
Dec 10
Range since Jan. 1.
Highest.
200 91
Dec 10 91
900 $2
Dee 14 $25*
200 60}* Dec 10 60}*
50 103}* Dec 16 103}*
27 65}* Dec 16 65}*
500 39 K Dec 10 40
175 95
Dec 13 95
Lowest.
Dec 14
835* Oct
Dec 10 $2
Sept
Dee 12 55
Sept
Dec 16 101}* June
Dec 16
Dec 10
Dec 13
595* Dec 10
91
which follow:
Dec 10
65
35
94
53
81
Dec
Feb
Dec
Highest.
91}* Nov
$3}* Jan
61}* Oct
107
86
40
98
Sept 63
July 91
Mch
Mch
Dec
Mch
Feb
Dec
Outside Market.—Little developed in the market for out¬
side securities this week in the
way of activity, trading
at a low ebb.
Price movements were irregular and
being
practi¬
cally without significance. Chief interest centred in Inter¬
Rubber, which advanced from 30 to 35%—a high
record price for this stock.
The close to-day was at 35.
American Tobacco, after a loss of about 16
points,to 409,
advanced to-day to 416, the close
being at 410. Standard
Oil improved some 6% points to
619% and reacted to 615%.
In the bond department American Smelters Securities
6s,
“w. i.,” moved up from 100% to
101%. Western Pacific
made a further recovery from the loss sustained last
week,
going up from 91 to 92%. In mining stocks the activity was
confined to a few issues.
British Columbia Copper rose from
6% to 6%, with a further appreciation to-day to 7%. Butte
Coalition, after the loss of about a point to 18, sold up to
19%. Chino Copper advanced from 21% to 22% and
dropped to 21%. Giroux fluctuated between 6 11-16 and
6% and finished to-day at 6 13-16. Greene Cananea went
up from 7 to 7%, but sold back to 7.
Inspiration rose from
9% to 9% and weakened to 9. Mason Valley was traded in
up from 9% to 10% and down to 9%.
Miami Copper im¬
proved fractionally to 20 and weakened finally to
19%.
Ray Central moved up from 1% to 2 5-16 and closed to-day
at 2 1-16.
Ray Consolidated from 18% reached 19% and
sank to 18%.
Kerr Lake advanced from 6% to 6%. La
Rose Consolidated improved from
4% to 4% but reaeted'to
4%. Nipissing sold up from 10% to 11 and down to
10%,
with a final recovery to 10%.
Regular dividends were de¬
continental
clared on the last two mentioned stocks.
Outside quotations will be found on
page
1624.
Exchange—Stock Record, Daily, Weekly and Yearly
New York Stock
OCCUPYING
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Tuesday
Dec. 13.
Monday
Saturdai
Dec. 10.
Dec. 12.
Thursday
Dec. 15
Wednesday
Dec. 14.
Friday
7>e. 1!
TWO
Sales of
the
Week
Shares.
PAGES
STOCKS
Range Since January 1.
Range for Previous
NEW YORK STOCK
EXCHANGE
On basis of 100-share lots
Year (1909)
Lowest
Highest
Lowest
Highest
Rail, oads
*25
*65
*25
*65
30
70
100l4 100*4 100*8
102
101*4
1102
117
117*2 *116
105%
105*8 106
*89
74
*89
91
797g
*80
*....
22
44
70S
280
*62
*260
80*2
3*
*04
*•8*8
•08
*72
•69
168
*28>t
60
•6«4
*10*4
210
145
170
3*2
7*2
67
105
57
74
72
164
576
28*4
69
To'*2
27*4
28*8
441g
45
35
122*4 12278
66*4 55*4
16% 13*2
•125
181
94*
136
131
*
♦125
♦131
65
18
40
65
*14
*37
26*4
*45
*127*!*
*146
•69
X*4
62
45
•186
*68
85*s
31*2
62
45*2
145
71
35%
111*8 112%
*63
*101
*86
*150*4
*145*2
40*2
•07
•85
64
110
94
153
147
40*2
97*2
93
1141s 114%
•98
*90
*100
128*2
•04
*100
110
110
110
129
97
112
146*4 148%
•88
•60
*60
•88
25
91
94*2
30*2
61*2
63
40
25
6178 6178
113*4 114*2
24*8
59*4
25*2
10*2
*7
22
53 *2
25
141
210
145
170
33
3*4
7%
67
105
68
73
72
*180
*130
*160
*2%
*5%
?“
65*4
65%
1727s
164*4
575
29
70
*70
163
*490
*27*2
69%
16*4
.
.
r
'
:•
*88
22
45
34
727|
72
163
575
29
*70
•163
*490
*27
69%
*33
122%
56
*13*4
27*4]
45
35
123
56
30%
45*2
74
•4*2
*10
*6
56
55*2
55%
14
16
135
134
*45
54
*45
128% 128%| 128*2
148% 148*2*146%
89*4 89*4 *89%
*30*4 31%
30*4
62
62
*61%
45
44%
45*4
_
*136
143
*69
72
*35*« 36
1117;
*63
*101
*86
-
*135
*68
77%
30%
65*2
18
45
98*2]
97*4
93
115
110
110
110
*94
*100
64
*38*2
38*2
25
60
1121s
24%
62
62
65
45
145
71
45*2
*135
*68
110
110
110
45*2
145
72
115% 116*8
*98
*90
*100
97
112
110
110
110
22*8
53«4
*50
16
*33
45*2
*72
*4%
*10
*5
*54
75
75
164
675
29
70
66
12
22
27%
45%
35
123*4 123*2
*56
*__..
56*2
14%
80*4
79%
*30
33
*
66%
20
54
&
203
*130
*160
*2%
*5%
*74
31
65
*14
*37
3*2
*65
*98%
*57
*72
*70
*162
*490
§27%
69
66
*10
*20
56%
18%
32%
77%
31
65
20
45
17978 181%
67
143
§96
*100
147
113%j
24*4
60
*60
38
*60
38
63
39
*24*2
25*21 •241s
69
1117a
*24%
69
♦24*4
59%
113%
59*2
113
25
59
*24
*59
*24%
25%
10
*7
10
*7
7*d
22*2
53*2
22%
56
16
34
45*2!
74*2
if
8
58
*51
*15%
*106
168*2
*91
26
54
*61%
45%
63
47
*135
145
*68
35
71
35
112% 112%
45*2
45%j
74%
6*2
§33*2
45%
*72*2
6*3
16
8
56
*10
*6
66
*4%
*10
*5
*54
128%
96%
110
110
110
129
96%
112
*100
65
38
25
60
147% 1487b
*87%
*92
297|
61%
*60
91
95
30*8
61%
63
38%
25%
60% 60*2
114% 114*4
37%
25
114%)
25
60
25%
27*2
69*2
12
22
25
25
59%
60%
*7
22*2) *22
52% 52
109
*106
169*4)
109
169% 170%
93*2
26
54
7*2
22*2
52*2
93
92%
27
*63
16*2)
33*2
47*?
74*2
29
58
16%
16%
34
84
471|
48»2
74*2
5%
137s
♦73
6%
5*2
16
8
13
6
56
55*2
.
14,300 <ttch Topeka 5s Santa Fe
Do pref
815
2,200 Atlantic Coast Line RR..
2,900 Baltimore Sc Ohio
D
Do pref
4,885 Brooklyn Rapid Transit.
.
.
4,900
(Canadian
Pacific
Canada Southern
Central of New
Jersey
16,850 Chesapeake & Ohio
Chicago & Alton RR....
Do pref
...
800 Ohio Gt West trust ctfs
Do pref trust ctfs
800
....
16,200 Chicago M’lw 5s St Paul..
Do pref
1,680
2,660 Chicago 5b North Western
Do pref
203
Chic St P Minn 5» Omaha 140
Do pref
§160
...
Chic Un Trac ctfs stmpd
2U
Do pref ctfs stmpd....
47;
100 Clove Cln Chic 5b St L
61
Do pref
99
.......
46
1.900 Colorado 5i Southern....
Do l;t preferred
70
800
Do 2d preferred
70
1.900 I Delaware 5s Hudson... 149%
l^e aware Lack 5b W est. 490
2 3%
195 Denver 5b Rio Grande...
Do pref
1,195
62%
Detroit
United
45
260)
Duluth So Shore 5s Atlan
10
Do pref
17
100
163
.
Havana
Electric....
Do pref..........
*125
♦130
135
133
20%
547g
18%
32*2
§30
*64*4
*14
*37
2078
56*2
18%
32*2
30
67
20
45
Ildnois Central..
...
...
Do
400
pref
67
143% 143%
137% 138
26*4 27
...
*62
46
*135
*68
63
46
145
71
*34%
111%
65%
35%
112
66
110
94
152
1481s
40%
99%
90
115% 115%
*98
*90
*100
no
110
110
129
12812
97%
97%
112
*100
Do pref
75
...
900 Minn St P 5b S S Marie
Do prei
100
Do leased line ctfs....
100
1,300 Mo Kansas 5b Texas...
Do pref
300
.....
2,100 Missouri Pacific
*60
*60
•371s
*24
91
95
30
62
65
38
25
60% 60%
1137a 114%
25
60
26
60%
25%
»%
*7
22%
22%
52%
3%
*72
*4
pacific Coast Co.......
1
Do 1st pref........
Do 2d prei
12%
6%
57*2
667g
57
Banks
Hid
Ask
175
..
kttery Pk.
iweryg—
inx Boroll
ix Nat
it Pk 1
itch 4» Dr
itury 1..
230
115
122*2
375
300
200
ioo
138
170
430
•Uld and a ked pr
180
266
.
240
126
....
....
....
205
160
145
176
45 >
•Sale at Steele Bxi
xchange
Ask
..
tei-i:: T598U
Exch.
lubon
Bid
Banks
Chatham
310
Chelsea ExTl 190
Chemical
M24
Citizens' Ctt 160
City
380
Coal 5b Iron 163
Colonial n.. 400
Columbia n>
Commerce
tl95
Corn Ex g.. 308
East River. 115
Fidelity n
165
Fifth Aval. 4000
.
-T--
155
3871:
158
405
1196
615
126
176
4250
---———
or at auction tills week,
Banks
Fifth
First
14th StH
Fourth
Gallatin
....
...
Garfield
Germ-Am f
Gorm'n Exfl
...
15,301
200
...
Germania
Gotham
Greenwich f
Hanover...
...
Imp is Trad
Mch 8
l4378 Jan 3
80% Jan 4
Jan
4
83%
140
Oct
14/
3 an
4
6
500
800
1.400
1.400
1,500
J’ly 26
J’ly -t>
48
Sep
74%
Feo
May 4
Men
9
6878 Nov 3
109*4 Jan 21
Apr 28
Apr 28
98
Jan 19
162
Mch 14
Mch 11
Jan
l*eD
67%
19*2
Feb
*eb
48
Jan
b.i
Jan
rl2l
*an
137
Dec
Mch
13212 Jan
147
89
35*2
71
65
.
Apr
J *y
*>b
Teb
Feb
122% Jan
44*2 Apr
Dec
21
12U% Feb
48%
Mch
100
Feb
76%
H54
Apr
Nov
42%
84%
Feb
Jan
Mch 21
Mch 16
Jan 3
Jan 21
Sep
61
M
5
105
Dec
85%
Men
133%
Feb
76
100
88
Mcb
Mch
Mch
126% Feb
86*2 oan
Feb
118
Feb
Mch
89
Feb
90
2078 Feb
67% Feb
65% Mch
Feb
36
104
20*2 Feb
47% Jan
114% Feb
D**
Sep
Aug
AUg
Aug
Aug
Jly
Jau
Jau
Dsu
Mob
Jf»
Maj
Jau
Map
Apr
Apr
Fab
Aug
Jau
Jau
Feb
Jan
Feb
Deo
Apr
Apr
Sep
50% Aug
75*2 Aug
29*2 Atlf
6478 J’no
~7l% Deo
162*2
153%
65
90
Aug
Jan
Jan
Jan
149% Jan
164% Aug
94
Deo
50% Oot
78% Oct
77*2
142
64
26%
A**g
Deo
Dec
May
147*4 AUg
Not
69
Feb
100
Not
95
174*4 J'no
5149*4 Deo
55% J’no
102
Doc
92% J iy
169*2 Ang
116% Doo
§106 Sep
115 Deo
151% Sep
9978 Deo
116% Sep
173% Sep
96
Ang
117% Doo
81
Deo
94*4 Doo
74
Deo
60*4 Sep
35% Deo
Deo
82
139% AUg
50% Feb
34
Aug
75*2 DOO
40% Aug
42% Jau
15% Jau
6478 Oot
74% Jan
116% Doo
219
Aug
118% Aug
47
SCO
77
Sop
Feb
Teb
2778Doo
61*4 J’no
22
60
30
12% Dec
7
May
48
Feb
64*4 Feb
97
Jan
172% Feb
z94
30
Mch
Feb
-
16
41
Wabash
__
Do pref..
Wheeling 5s Lake Erie..
Do 1st pref........
Do 2d pref.........
1.8001 Wisconsin Central
Banks
Bid
Ask
Irving N Ex
Jefferson!)..
200
210
185
155
Liberty.... 675
425
T198% Lincoln.... 400
335
Manhattan!) T329%
Mark’t&Ful
250
245
Mercantile
150
Merch Exob 160
Merchants'. T180
Mech&Met’s
.
Metropolis f
Metropol *nf
Mt Morris*.
390
200
260
76
67
3
AUg 15
Apr 28
8
J'neoo
J’ne30
4
44
10
23
J’ly 26
Novl9
Jan
Jan
6
J ly
16*4 J’ly
12% Jau
25% Jan
13% Jan
6% J'*y
16% Jan
63% Apr
64
NOV
*67» Jan
QUOTATIONS.
Ask
265
620
566
37
Nov 28
128
J’ly 8
36
62
82
3
Feb 18
44%Jau 3
71
Jan 4
25*4 Jan 5
62*4 Jan 3
3
63%
54% Jan
Men 3
Not
S«P
De*
25% Deo*
Mch
26*4
...
100
400
600
200
300
150
605
665
36*4
Mch
3
Union Pacific
860
11%
Jan
145
Oct
162% AUg
39
99
15o%Mch 2
9234 Jan 3
51% Jau 6
74%Jan 5
73% May23
140 Nov 3
72% Nov 3
37l2 Nov 14
Apr
J'n*
i37_”Feb
97% Apr 14
/u% Apr 14
159*4 Jan 5
146
Oct 6
53*4 Jau 4
80
Feb 24
J’ly
Feb
Feb
Men
Mch
Feb
Mch
80
1
143% AU*
J'***
56*4 Aug
46
Aug
15778 AUg
88% AUg
21
Deo
103
Deo
Doo
100
36%
28%
136%
Nov
Dec 3
Deo V 186
Oci
7$mS
De*
13%
30
Mob
126*8
106*4 J'M
1U3U Feb
122%
96
Nov
91
67
Jan
8278
*165
Mch 189*8
Jan
60%
70%
Feb
215
323%
Jan
91%
55%
677* Feo
70 Nov
31% Dec
37%
58*4 Dec
64*4
Feb
141
165%
Mch
181
158%
173% Feb
198%
Mch §230
208
Apr
148
167
166% Jan §180
Dec
7
3%
7% Dec
18*4
Jan
68
83%
Jan
105
100
Oot
51
68*4
Jan
86
76%
Jan
73%
84%
200
167*4 Feb
Feb
tso
535
64
37% Jan
90
79% Jan
Jan
OO
nsmmmu
56
71*4
21
14% Nov
28
Feb
36%
39
22% Mch
66%
...
1.200
38.550
1.500
8.250
97% Jan
lOOM Jan
107*2 Jan
18% Mch 22
25% Jan 11
027g Jan 12
za
Feb
Mch 8
42
20
J’iy
J’ly
Jan
Jan
Jan
780 St L 5s San Fr, 1st pref..
360
660
Jan
18*4
34%
34%
52%
...
But
326
290
140
486
660
160
266
610
J’ly 1
j*lykb
Heading......
300
840
150
tl95
J’jyii
..........
BANKS AND TRUST COMPANIES—BROKERS'
Jr«w York
J }y 26
J If 28
1
1.300
1.400
4.926
12%
6%
Mch
Jan
Jan
3
21
3
3
27
3
4
5
370 Pltt*b an Chic 5b St L._
Do pref
...
16%
6
G20
52
84
66
J ly 26
Men 4
Jan 6
Feb 14 118 Jan
122% J’ly -0 I3a% M^b
89
J’ly 2i« 104% Mch 22
110
Oct 25 116 Mch 1
130% J’iy 2
172% Teb 18
1st pref........... £85
Aug 24
93% Feb 17
2d pref
87
J ’ly 26 110% Jau 3
‘
Rook Island Company...
227s J’ly 26
57% Jan 3
Do pref
64
J’ly 27
92% Apr 9
73
58 Aug 11
Jan 6
Do 2d pref.........
60 Jan 6
34% Aug 2
St Louis Southwestern...
<*4% Jan 3
18% J’ly 26
Do pref.............
77% Jan 3
61% J’ly .6
Southern Pacific Co..
103% J’ly 26 £138% Jan 4
Southern v tr cfs stmpd.
18
J’ly 28
33*4 Jan 3
Do pref
75 Jan 3
do
43
J’ly 20
'I'exas 5b Pacific
22% J’ly 26
36*4 Jan 3
1 hird Avenue (N Y)
fit* j’no
19% Jan 7
loiedo Railways 5b Light
6% J’ly
16% Jan 12
Toledo St L A Western
19 J’iy 26
84% Jan 4
Do pref....
72% Jan 4
.....
42*4 J’ly 28
Twin City Rapid Transit 103
J’ly 26 117% Jan 8
162% J’ly 26 204% Jan 3
Do pref
88% J’ly 26 103*4 Jan 7
Unit Rys lnv’t of San Fr
42% Jan 3
23% J ne30
Do pret
47
J’ne30
72% Jan 8
Jan 3
27%
12% J’ly 20
61
Do pref.......
Jan 3
28% J’ly 36
West Maryland Ry—..
40
J’ly 26
54%Mch 12
12,387 Pennsylvania
1,100
6
Jan
05*4 Feb 26
J nelu A151
60
38% Aug 2
88% J’ly 26 108%
88
Feb 2
91%
111% Aug 0 145*3
100 Oct 13 118*4
20,620 Northern Pacific..
29
60
47%
74%
J|iy M
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Feb
72
43% Jan
46% Jan
116% Jan
106% Jan
27*4 Jan
85
3()0
10
Feb
33U
9034 Jan 17
116% Jan 10
125
Feb
6% Feb
*205
18? J’ly
Jan
bli2 Jan
54% Jan
98
124*4 Aug
79% Nov
107% Nosr
Jan
98
1I8
.Wig*
J’ly 8
J'ly .6
J’ly 26
59'2 J’ly 27
61% J’ly 26
Da pref
Virginia Iron Coal 4s Coke
”’305
ells Fargo 4b Oo._
estern Union Teleg..
1325
1,700 Westlngh’seEl&Mfg assen
400
Do 1st orel.
400
Mch 7
Jan 3
27, Aug *
28 J’ly 26
*90*4 Sep 7 107 Jan 17
27
J*ne 4
45% Jan 3
82*4 J'ly -6 104% jaa 3
150 J'nesO 190 Nov 12
86% Jan $
J* |y
118% Feb 1
$19*4 J’ly 26 $40% Jan 3
134 Oct 7 144
Oct 18
83
Feb 8
95
MaylS
6
J’ly 5
13% Jan JO
73
Jan 17
52% Dec 9
......
123
Feb 28
65
44% Feb
107% Feb
42% Jan
187, Jan
143% Feb 24
9 J*4 Mch 14
39i2 Mch 18
7
Get
15’.* Nov
86
J’ne
76U Noir
98
W
71% Feb
12
29
49
12S78 Feb 18
124
Aug
Auk
49,<> Aug :
60
103
2014 Jan
34
Jan
Feb 18
Mch 21
9078 Jan 3
104
Jan 3
112?4 Jan 3
285
Apr 27
102 Dec 8
06
Jan 10
2514 J ly 26
9914
22%
4
8
48
JV 26
251SJ ly 5
8
Jan
115
90%
J38»«>
21 ‘
49
125
0^0
1/34 jan
4678 Jan
b2i2 Jan
7
Dec
Oct 13
2914 Mch
126*4 J’ly 20
toifi
107
big Jan
47?s Jan
6i*s J'ly 26
98% Jly 26
DC® 16
OouJau 13
38 JTy 26
lilt, Oct 3
UluDec
Mctt 0
093j Mch 9
275
717, 727, 522,264
116% 1167,
Do pref.....
4,835
1101? J’ly 26
*45% 45*4
8.950 dUtah Copper
Par $10 t$39*s J*ne30
62
62%
7.635 Virgin! a-CaroUna Chem.
47
Feb 3
467,
62%
122
Stamp’s
Steef s’prtng"
j^aflway
Do pret......
102%
15%
621,
120
J’ly 23
82
71
500
300 XV
101
82I4 Nov22
72'8 Jau 3
39l2 J ly 26
Jneao
621, J'ly 26
100 Dec 1
*235 Aug 3
3% Sep 13
19 Sep 8
16*3 Dec 7
10% J'ly 27
25% J’neao
29
J’ly 26
10212Aug 6
3U Dec l
28% J’ne 30
67*'1 Nov
»Nov
33% Jan
95% Jan
Jan 10
3
167, Au*
Feb
Feb
38
65
Nov
250
12% Feb
137* Jan
Jly 26
62
Highest
Jan
190
4714 Jan 10
95i2 J’ne J5
109
100
Do pref...ii.
Pullman Company
5
31%
92%
30%
Apr »
J*»y 26
3*17 27
67* J 'nejo
79
\J ationai Biscuit
200 quicksilver
3%
" .*140" 160" 147" 147*
72
68
120
Mactoay Companies
Do pref..
DO prei..
SO
2,280, Pressed steei Car
70
103
J^y
elphla Co (Plttab’b)
500 Pittsburgh Coal Co.
30%
24
89>
’
6271
8.700
18%
90*4
ly
National Lead
...
Do pref...
30
dNtev
W>n*
2.550
Copper .Par $5
New York Air Brake
700 North American Co, new
800
1,500
18%
Lowest
9034 Jan 3
4tl2 Oct 21
J'ly 26
Do prer...
70% J’ly 26
Crex Carpet
65
Apr
Distillers'
Securities Cora
1,460
25t4 J
20
Federal Mining & Smelt's
12
Oct 28
Do prei
37
Oct 27
4.711 General Electric
134
J'ly 26
21,148 dGold field Con M .Par 510
8734 Oct 14
nt
Harvester
stk tr ctfe
2,557
s83% Feb 8
Do prei stk tr ctfs
300
xll7 Aug 11
200 Int Mer Marine stk tr ctls
4%
26
Do pref
100
125s J'ly 26
500 International Paper.....
9
J^y 1
Do pref....
1,000
41»- J’ly 26
4,800 Internat Steam Pump
3335 J'ly 26
Do pref.....
100
7818 Jly 26
650 Laclede Gas (St Ll com..
93*4 JTy 29
*
i’.Ioo
33% 34%
109% 109%
727,
123
68%
120
;
.
100
100 Nat Enamei'g 4b
D® pref....
105
53%
*4%
_
2,200
53%
*51%
*93
69
1,200 Amer Steei Found (new)
400 American Sugar Reflnlni
Do prei...,
200
‘
7.100 American Teiepb A Tel eg
American
300
l’obac (new) .pf
1.100 American Woolen...
Do prei
300
L
900 /AnacondaCopper FarS25
1,100 liethlehem steel
Do prei
600 D
700 Brooklyn Union Gas.
Brunswick Term A Hv See
300 Butterick Co_.
4.350 I central Leather.IIIII"
Do prei
850 v>
1,600 Colorado Fuel & iron
Col 6; Hock Coal & Iron’
2,675 Consolidated Gas (NY)’
1,900 Cora Products Refining..
124
16
86
9
15%
52%
...
66,075 Amer Smelt ng* Refining
Do prei....
1,200
100 American Snuff
Do prei
”575
74%
116%
*7
101
♦100
32% 33%
33% 3334
109% 109% *108 no
72%
116%
123
53%
101% 101%
03%
70%
7%
*15
75
160
102
17
52
9
Do prei...*...
100 Amer Smelters Sec
pret B
500
94
94%
*178
181% *178 180
50l4
49%
*49% 50%
49% 49%
•..__ II4I4
114% ♦
114% *
114%
114% *—.
114%
3412 35
35
34*4 34*4
35
34% 34%
34
34%
34% 35%
13012 13612 *135% 137
137
137
*135% 137 *134% 134% 136 136
*88
92
*88
92
*88
92
*88
92
*88
92
*88
92
181
49
*.._.
.....
American Malt Corp
’"625
^
31%
*4
155
155% 157
155%
8%
834
8%
8%
111% 112 ♦no
112
*121
12134 121*4 121*4
*4U
53,
*4%
534
*15% 1634 *15% 16*4
*12% 13% *12% 13%
*55
56
*54
56
5534 557,
40% 40%
40*, 40%
40% 40%
*83% 85% *84
85
*8334 84*4
104% 104% I0434 10434 *104
105
*121% 125
17% *1517%
32
32
33%
95%
92% 92*4
31%
30% 31
93% *93% 94
...._
86
275
*100
102
Do prei......
100
900 American Locomotive...
Do pref...
100
33
*85
86
*42
*58
*32
130
3%
*11
*30
153% 156
8%
8%
111
111%
*1207, 121%
*47,
5%
*15% 16*4
*12*4 13%
94
75
31
94
161
1712
1212
5*2
133% 133%
79
70
_
♦45
66%
1714
*4
132% 133%
15% 15%
*12
$66%
17*4
12*2
31%
5%
*31%
70
1712
103
31%
*75%
18%
3D2j j *30
841?
94
103
*4
*
92
19
...
22
32
American Express
American E(Jde 4s Leather
Do pret.....w._...._
450
500 American Ice Securities..
100 American Linseed
4%
*418
22
*275
*100
115
31%
78
70
32
20
55
*88
*17
„
21
*85
421
103
62% *60*4 63
31
31% *30
44
43*4 43%
105% 105% 104% 105
44%
*10478
20
29%
30%
31%
5%
132% 133
15% 15%
78
327,
29
59
132
10
*4
*
BO
115
59
105
250
5515 J ly 13
36
_
75%
113% 11312 *112
1415s 14214 14158 14218 141% 1415s
*92% 94i2
*93
93*4 94
9312
32
32
32
*31
3212
32%
*92
94
*92
95
9312 94
*3912 40
3934 40
39l8 393s
29
*2812 2012
29
*2734 29
5914 5914
5914 5914
59% 5914
13214 132U 132*2 13212 ♦130 13412
*8% 10
*8% 10
*824 10
*2834 30
*28% 29% *2S34 29
30*4 307,
30% 31%
307, 31%
74% 74%
*110% 112% ♦109% 111*4
•10958 113
122
103
31
4012
*110
59
*103
*220
4*2
63,200 Amalgamated Copper...
3.900 Amer Agricultural Chem_
Do prei.
25,500 American Beet Sugar....
100
Do prei
1,140 American Can
Do prei.
1,225
..........
2.660 American Car A Foundry
Do prei,
100
2,100 American Cotton OU_...
Do prel.._.
.
9%
3712 *3612 37*2
*10512 10612 *105 10612
4
*3
4
*314
4
34
34
33%
3418 3418
103
115
93
914
x75%
74% 76% ar73*4 75
104*4 105% a:103*4 10334
42%
15234 153
8%
8*4
111
111% 112% $111
♦120% 121*4 12134 12184
6
*434
5%
*4%
16
16
*15% 16%
13% 13% *13
13%
55
55*4 55*4
55%
40
40% 40*4
40%
*83% 85
*83% 85
104% 104% 104% 104%
5
•16
*834
29%
303,
37
106
39*4
Year (t!):H)
Highest
Nov23 J270 Jan
15
Jan
7*2 J’ly 27
IT Aug 5
54*4 Jan
.
.
21
*11
32
37
86
*275
*101
153% 153%
834
8%
111
121<
5%
79
70
32%
20
55
*85
102
29
59
132
5%
132% 133%
15
16%
70
85*4
11212 *112 115
141*4 14U4 1415s
9414 *92*4 94%
32
*31
3218
93
03
9214
39",
39% 39I4
*4
133% 1337,
1518 1518
*7712 80
33%
115
59
105
250
*418
32%
106
*3
4
35
412
23
18
12
*36%
42l2 43%
11434 11484
29
59
250
*20
♦17
*11
*30
106%
*765s
50
♦111
59
*103
*220
*90
39
93
'
LXXXXl.
Range tor Previous
245
Ho prei
635s
47%
6234
47% *4512
9%
77?8
5012
Range Since January 1
On basis of 10O-share lo:s
110
8%
[VOL.
Lowest
30
*24
40
94
STOCKS
NEW YORK STOCK
EXCHANGE
250
8l4
64*s
*92
*9
50
116
59
*41,
737, 75%
73% 74%
10434 104*4 *104
IO484
*275
*101
43
115
59
512
4%
12
32
37
*3%
*34%
8534
34%
•13U2 134 *13H2 135
*8*4 10
*8*4 10
*29
2934 *29% 30
30*4 30*4
30% 307,
104
104
*103
104%
3112 3H2
31% 32
*4
103:
250
21
11%
$50
...
39%
9%
76%
*230
8%
30
“
63%
94
♦111
59
--J*
*220
58*4
*4%
86
115
112%
141% 141*4 141
9414 94l4 *9212
31% 32
“
3112
*91% 93
92l4
397$ 4034
39*8
29
29
28~,
59
*102
*220
32
*36%
49*4
250
47
*90
40%
76%
115
4%
22%
11%
*30
64
9%
77
68*4
.
Shares
*29
47%
*92
9%
*112
59*4
*21
*17
17*4
*275
*101
43
*115
*112
50%
116
Dec 16
*81,
39%
94
767,
*48*4
Dec 15
*230
30
6278
46*4
39%
*92
9
8%
77%
250
*90
38%
Friday
*8%
*24
63*4
46%
46
*90
94
*230
8%
80
62%
Thursday
Sates ol
the
Week
Dec 14
245
*8%
64%
497,
23
12
33
37
105
*24
40%
♦111
59
*101
♦220
4%
*4%
*20
*17
*11
*30
36
•104
*3
34
*85
74
*230
47
Wednesday
Dec 13
9
30
*95
39
*92
9
77
89%
\
250
*8%
*2734
63%
46%
AND LOWEST SALE PRICES
Tuesday
1
Record—Concluded—Page 2
128
Dec
75% Sep
Dec
85% Nov
90
Aug
,670
Feb
Ffeb
Mch
146
Sep
BANKS AND TRUST COMPANIES—BANKERS'
QUOTATIONS.
Banks
Brooklyn
But
Ask
Broadway J
Brooklyn
385
400
100
155
300
125
115
Coney Isl’dT
First
290
HUtsideH...
Homestead^
Manufao’rs'
Mechanics *t;
Montauk
4'l5"
Nassau....
245
230
..
245
160
270
Banks
Brooklyn
Nat
Bid
City... T285
North Side t
150
People's
Prosp’ctPk^
158
150
...
Terminal f.
"
Ask
180
160
90
.....
..
Columbia
..
Commercial
Empire
Trust Co’s
N Y City
As tor
Bankers’ Tr
trust Co's
Bid
JV YUUy
B’Way 1%., 145
Carnegie
110
Central rr__ 1015
280
120
300
Eqult’ble Tr 465
Farm Lo&T 1625
310
625
315
Fidelity
Fulton
...
....
Ask
148
H2%|
1025
285
130
310
472%]
1660
trust Co's
BUt
Ask
Guar'ty Tr.
800
810
180
175
305
Guardian Tr
Hudson
Knlckerb’kr
165
295
Law T lATr 252%
Lincoln Tr.
Madison a..
Manhattan
Mercantile
.
213% 217121 MetropoFfn
290
...
Mutual ...1
Mut AO nee
125
20J
375
700
130
125
257%
130
205
400
740
500
-
mtmm
130
Bid
lrust Co's
NY Ufe&Tr 1120
N Y Trust. 610
ciavoy
.r
90
Standard Tr 400
TitleGuA Tr 506
Tr Co ol Am 320
Union Tr... 1275
US Mtg& Tr 475
Unit States. 1160
Washington 375
Westchester
Windsor
..
150
120
Ask
1130
620
lrust Co’s
Brooklyn
Brooklyn Tr
100
410
Citizens'
510
Franklin...
330
1300
48)
1190
'
...
Flat bush
Hamilton
dome
..
..
.....
Kmgs Co
List L A Tr
Nassau
....
160
People's
130
queens Co.
Williams b%
and asked priocB: no sales on tins day.
4 Less than 100 shares. * Ex-rights. 0 Now stock c Ex-div and rights, d Now
quoted dollars
19ala at Stack Exchange oc at auction this week.
* Ee- stock dividend.
U Banks marked with a paragraph (H) are State
Btd
Ask
420
125
200
430
270
103
500
SOO
170
295
110
per
135
220
210
280
110
3"fo‘‘
180
310
125
100
share.
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
Jan. 11909, the Exchange
BONDS
Price
ju-g
N. Y. STOCK EXCHANGE
Week Ewmita Deo T6
t. s,
method of quoting bonds was changed, and prices are now all—“and interest”—except /or inco ne and defaulted bonds.
Frida*
||
Deo It
)^
100% 101%
10041014
102
1024
102
1024
ll
January l.
lent of Ga RR—(Con)
Chatt Div pur mon g
High
101%
—
....
100%
....
102%
114% 115%
—•
n
Securities
100% Sale 100%
1960
sale
994
4% Corporate Stock
1969;M-N 99%
994 Sale
994
4#o Corporate stook ....1958 M-N
lu7
Sale
New 44s
1957 m-ni
New 44s
1917 M-N
44% Corporate Stock ..1057 M-N
44% assessmt bonds
1917 M-N
4% Corporate stock
1957 M-N
N Y state—Canal Impt 4s.I960 J- J
So Carolina 4 4s 20-40
1933 J-J
Tenn new settlement 3s..1913 J-J
Virginia fund debt 2-3s... 199x J-J
Os deferred Brown Bros otfs.
1024
107
Sale
100% 174
994 46
994 22
1064
107
102% Deo’lO
61
124
1064
102 4
*884
90
42
Bale
88
....
17
I
....
3
Nov*l
....
11
42
384
101%
100%
96% 1004
105%109%
102% 103%
106% 110
102
104
96% 100%
101% 105%
103% 103 4
94% 96
87
90%
....
107
Deo’lO
99% sale
994
994
104% 104% 104%
l034J’ly’19
96% 97
95%
95%
1024
JOO
96
36
66
<
1014 Sale
j.j
J-J
J.J
102%
41995 Nov
41995 Nov
Registered
Stamped
41995
Conv 48 issue of 1909... 1956
Conv g 4s.
1956
Conv 4s (issue of 1910). 1960
10-year conv g &s
1917
Debentures 4s Series J. 1912
1913
senes K
Bast Okia Div 1st g 4s.. 1928
Short Line 1st 4s g
1968
She Pres A Ph 1st g 6a.l942
atl Knox A N See L A N
Atlantic Coast 1st g 48.41952
Ala Mid 1st gu gold 5s ..1928
Bruns A W 1st gu g 4s ..1938
Charted A Sav 1st g 7s..1936
itCe H COll g AS
01962
Sav k A W 1st gold Us.. 1934
1st gold 6s
1934
811 Sp DCS A G gu g 4s ..1918
Atlaimo A Danv ties south Ry
Austin AfiW tee Sou Pacific
M-N
J-D
J-D
J-D
J-D
F-A
FA
M-8
J-J
Registered
Gold 4S
J-J
41948 Q-J
Pitts Juno 1st gold Us... 1922 J-J
P J un A M DiV 1st g 3 481925 M-N
PLEA W VaSysref 4sl941 M-N
Southw oiv 1st g34s... 1925 J-J
Registered ...........41925 SM
Cen Ohio R 1st cg44s.. 1930 M-S
Ol Lor A W oon 1st g &s 1933 A-O
aionou uiv
lstgu
g
6s..1919
Stat lsi Ry
Beech creek
Believ A Car
110
107%
J-J
M-N
A-O
A-O
F-A
J-D
A-O
A-O
J-J
lstgugi1* 1943 J-D
.
94%
52
104%
1074 J’ly'10
94%
96
92% Sale
91%
98% Saib
994
A
5
96%
92
Sep’09
*44
89 * 964
1 124% 124%
112
112
96
97%
J
Mi
i'K
92%
024
Registered.....
General g 3 4s series
25-yr deoen 4s
ChlC* LSUDlVg5s....1921
CJuo A Mo Riv Div os.. .1926 J-J
Chie* P W lstg5s
90
o3
97% 100%
96
99%
90
111%
......
984.
964120
<
•
904
92 4
904
93
92%
894 904
19
89
4
89
6«4
984
108
.....
101%
109 4
108
113
110
Mar’l
103
110
106%
•
100
•
•••
'••••••
••••••
.•••••
•••*••
M-S
M-N
A-O
J-J
F-A
J-O
OarthageAAd
107
J-J
....
109
964
1084
1164118
96
103
115
lie
1164
!....
.
96
gold 5s
.....1945
Registered
1945
1st pret income g 6s....pl945
Stamped
2uprez income g 6s....pl945
2d pi e£ income g 6s stamped
3a pret income g 6s....pl946
3d pref income g 6s stamped.
Consol
M-N
M-N
Oct
Oot
Dot*
....
1084 103
100% 1014 100%
1004100%
....
BUT OR* N—
1114...
107% Said
100
Sale
97 4 98
100
Sale
97
98
Bale
100
97
98
|106%
109% U34
30 103% 109
t
»
90
91
874
88%:
83
82
100
31i 1
91* i' 21
101
879
1
iov’i )
100
371
84
76
76
76
....
....
80
!
w
45-year 5s Series A
196k'
A-O
J-J
J.J
M-K
F-A
F-A
F-A
F-A
J-J
J-J
J-J
J-J
F-A
A-O
M-N
M-N
Internas Trao coil tr 4S..1949 J-J
Manila Elec 1st * coll 5s. 1953 IM-&
1 *No price Friday: latest this week.
102
4103
82%
1024 Deo’lO
....
•• •
....
....
....
......
....
May’01
^Flat. aDue Jan
.•••
A Tin a A
*-•••••••*••
nr
*
1044
94 4
904
99
93
85*
734
73%
87 4
70
70
75
70
66%
Oot ’10
\7
75
Oct ’09
98% ICO
86 4 8^4
87 4 88
884 101
104% 104%
984 100
98
1004
99
97 4
May’OO
Oct’10
85%
854 84%
125 Oot'10
87%
884
110
874
874)
88
88
112
84
22
874
1244129 4
Dee’09
J’ne’10
114
100
92
914
Deo’lO
1024 102% 102% Dec’lO
99 % SSI*
98%
994
103 4 Oct'08
ioo** ibo%
92
94
102% 103 4
98
53
....
1004
*86% 89**
2? 914 93%
92%
93
1074 108
107% Mar'10
107
108
110%
1084 Oct ’10
1064107
1064
1064
1054108%
1024103%
102% 104% 103 % Oct ’10
116% 116%
117%......|H6%May’10
1044 106
1054
1064 Dec’lO
106
1054 108
106% Aog’10
103%
103% 1064
103% Aug’1U
99% 1004'
1104113
109% 111 111 Nov’10
964 101
99%
99%
99%
95 4 954
97
954 J’ly’10
*
J-J
J-J
J-J
A-O
lstg 6«.1934 A-O
j:?
Ohio St L * Pitts AeePennCo
Ohio St P M * O oon 6s...1980 J-D
Cons 6s reduced to 3 4s. 1930 J-D
1IONDS—Continued
10
98
93
100
974 90
16
99 103
101
101 % L01
102
1014 Nov’10
99% 103
1
82% 85
844 85
84%
84%
J
80
844
84 H
86%
844 Sale
81
70
774 78 Nov‘10
1024102%
102% 1024 Mar’ll
1004102
100% 101% 101% Aug’lb
6
70
79
v9%
81
82%
93
964
94% 96% Nov’10
385
77
83%
79%
80%
80% Salt
68
1004
100%
100%
104
1004109%
103% sale 103 4 104 376 100 104
67 % Mar'll
674 67%
88
89
88 4
93
Sale
1064
....
874 83
106
87
17
Apr *09
110% Sep ’lu
lll%Nov’09
105% Dec’lO
100 Mar'll)
1064 105% Nov’10
93 4
1*05*' 109*4
106
106
105
107
1064 1064
106 4 teb’lu
109 sep ’10
109 J’ly’oo
109
115
114% 1154116
Nov’10
1174
1424 Feb’02...
1174
118% Nov’10
1004
1034 May’ob
109%
109% Deo’lO
103 1104109 Aug’10
97% Sale ) 97%
97% 18
97%' 98% Feb’10
109
109
...
....
89
Sale
112% ill
111
1204 Mar103
105% Oot ’10
104%
112%
11&4
i*l*8%
109 4112
109
109
944 99
98%
86
93%
92
944
944
94%
944
66%
83%
76% 80%
93
110
96
1144
106% 106
1U4
Msy’10
107% Deo’lO
.104
Feb'io
104
.
110
114*4 *11*7%
109
974 974
72
73% 520
78% May’10
94 Nov’10
95
......
1114
934Aug'09
93% 95
734 Sale
108
100
80
97 4 J’lj’10
944 Jan’10
94
Deo’09
94% May’10
95%
95
94
111
894
89
984
90
iT0% iTi%
104
1074110
1034104
I
i
123
86
126
77
Sals
1244
.
123
1244
127%
Deo’03
93
86
98
101
•
83
114
110
85
41934 A-O
Registered...
CRIF*NW lstgu6e.l921 A-O
M * St L 1st gu g 7s.. 1927
Choo Ok * G gen g 5s .©1919
Consol gold 5s
..1952 M-N
Keok * Des M 1st 5s
1923 A-O
Jhiost L* M O See 111 Cent
100
2 101% 106
51
79% 87
100 %104
103%
103
103% 1034
82
82 4 Sait
100
91%
101
88%
1917
1988
1988
..1934
87
99%
125%
Coll trust Senes J 4s. ...1912 M-N
Mas
1915 M-N
M 4a
1916 M-N
O 4s
1917 M-N
P 4s
1918 M-N
Ohio RI * Pac RR 48..2002 M-N
Registered......
2002 M-N
R1 Ark* Louis lst44s 1984 M-8
3 102% 105%
7 '100% 101%
103
fllDOElilANEOIlM
Street Railway
Brooklyn Rap Tr g 6s
1946
1st refund conv g 4s....2002
BkCity 1st eon 6s.1916.1941
Bk (j Co * S con gu g 68.1941
Bkiyn IJn El 1st g 4-6s.l950
Stamped guar 4-5s
1950
Kings Co U 1st g 4s....1949
Stamped guar is
1949
Nassau Elec gu g 4s
.1961
Conn By* List*ref g44s’61
Stamped guar 44s
1951
Det United 1st eon g 448.1932
Havana Elec consol g 6s. 1962
Inter-Met ooll 4 4s........1966
Inter Rap T 8-yr oonv 68.1911
Registered.
Refunding g 4s
H16%116%
72
72
....
tee N Y C A H
CeuRlah«fe.N tee BCHA.N
Cen Brancu Ry tee Mo Pae
Cent of Ga RR 1st g 6s..pl946 F
Registered....
General gold 4s..
994
101% 101%
39
95%
94% 220
104
95
110
Jnoomes
1911 M-N
Ohio Rocklsl * Pac 6s... 1917 J-J
ii*6“ nr
....
72
J-J
M-S
.1913 M-S
Registered
Oaru A Shawu See ill Cent
(Jaroiiua cent seeSeab Air L
113% 116%
).... 105 109%
1114116%
101%
1054
15 1104 114%
112 4 1124
99
32
1034
91
109
1921; A-O
Registered.
1921; A-O
Sinking lunu deb os
1933 M-N
Registered*.
1933IM-N
MilLS* West 1st g6s 1921 M-8
Ext A imp sfund g 6s 1929 F-A
Ashland Div 1st g8s..1926 M-8
Mich Div 1st g 6s
1924 J* J
Bkiyn A Montauk tee Long 1
101%
101% 14 100 41024
101
97
97% 106 96% 100
100
1004
100 4 10 1004 102
Si
81
834 834 Deo’lO
864
121
127
123% 129 121 J’ly’io
108% 113
109% 111 1094 109%
Debenture 5s
.••••to
•••
188U-192U F-A
1987. M-N
100
102
88% Nov’10
86% Nov’lu
Sale
Registered
^»1987 Q-F
Sinking fund Us...ls79-1929 A-O 112
1S79-1929A-0 110
Registered.
Sinking iund 5s... 1879-1929'A-O 106
1879-1929 A-O 1044
Registered
V
• •••
.....
Registered
1134
Feb4)7
D«
Nt
964
80
1913 J -D
General gold 34s
103
103
1 109
....
no
112
112
Extended 44s
;ine*Northwcons 7s.... 1916 Q
Extension 4s
1886-1926 F-A
874
874 87% 874
914 92% 91%
90
•••
1921 J-J
Dak * Gt So g 6s..
1916 J-J
Far A Sou assu g Us
19241 J-J
Lacrosse* D 1st 6s....l919: J - J
W is * Minn Div g 5s. ...1921' J - J
Mu A No lsi cons Us....1913' J-D
93
25
*1989
B.el989
1934
88%
Nov’10
Nov'10
1014 Sale
97% Sale
1947 J-J
J-J
J -J
Q-J
J-J
J• J
J-J
87% Nov’10
994
88%
87% 884 87%
88 Sep’10
86%
100%
99% 1004
1004
1044
104% Deo’lO
99
1004 994
994
984 98% 984
984
1014 Mar’oy
99
97% May* 10
1937 M-N
lino Mil * St P term g 6s 1914
General g 4s series A..«1989
99%
85
104 4 Sep’10
90
Jan ’09
964
964
99%
LouasvN A * Ch 1st6s. 1910 J-J
Jhi© Ind * Sou 50-yr 4S..1956 J-J
swNYCAH
tee Illinois Cent
Bruns A West See Atl Coast J
Buh&lo H 14 Erie See Erie
BuQaio R A P gen g 6s.. .1937
(Jonsol 44s ..............1957
All A West lstg 48 gu.. 1998
Cl A Mali 1st gu f 5s....1943
Rooii A Pitts 1st g 6s...1921
Consol 1st g 6s........1922
Bull A susq 1st ret g 4s.dl961
BurCRAN See CRIAP
1913
uui so 1st ext 6s
(OS
M2d 6s
1913
70
Cine * ind c Ry 1st 68.1936 J-J
tee Erie
Ihloago * Erie
!
Duo Gt Western 1st 4s...1959 M-S
lino in * Douisv rei Us... 1947 J. e
Refunding gold5s
iOC%
98
94 4
90
109
100
101
904 §2
734 73%
1927 M-N
Registered
107
ioo % i‘o*i%
Sep'10
10141074 113% fc eo’05
Southwestern Div 4s....1921 M-S
Joint bonds See Great Northl
Debenture 5s
1913 M-N
General 4s
1968 M-8
Han* St J os consol 6s.. 1911 M-S
line* E lliref*impg 4s 1955 J-J
1st consol g 68
1934 A-O
General oousoi 1st ds.... 1937 M-N
94% 94%
....
*924 ’
124%
112
96
A
....
94%Not’10
924 Sale
1244
110%
964
.
A
100
96
92
94%
117
122%
104%
17 104% 122%
98% 98%
984 93 s
J
95% 97%
6 92
94%
107 41094
3
2
10
U3
109
944
131
...
106
192 4
1084
Jan’10
984
984 Feb'10
96
964 95%
95%
93% 94%
98
83
92
89
105
100
93
A---
91
102
102% 1024
1084 Sale L08%
99
98%
83%
974 101
....
Jan ’10
90%
74
i*65
90% Deo’lO
104% 106
10441064 104%
M-N
......41948 ▲-0
Ohio River RR 1st g 6s. 1936
General gold 6s
1937
Pitts OlevATei lstg Us 1922
Pitts A West 1st g 4s...1917
914
93 4
J-J
77 4 Deo’io
984
98%
98 J’ne’ LO
92
91
M-S
41926 Q-J
Registered
79
98% Sale
97 4 984
90
914
120% 126
May’to...
113
112 4 Jan’10
964 Sale
90
92%
1950 J.J
Registered
M-S
L»alt A Oluo prior ig 3 48.1926 J-J
o
81
A-O
1919 A-O
110
103
125 4
...
112%
I?
*86%
M>8
M-N
Sinking fund 4s
110
102
120
99%Deo’lO...
100
103
94% Halt
J.J
1949’J-J
High
101% J’ne’10
Nebraska Extension 48.1927 M-N
78
90
99% 100%
ills Div 4s
1949 J.J
lowa Div omit fund ds..1919 A-O
Albany & Susa tee Del A Hud
Allegheny Valley tee Penn KU
Alieg * Weal tee Bull K & V
Ann Arbor 1st g 4a
41995 Q-J
Atoh T * S h e—Gen g 4s. 1995 A-O
Registered..
1995 A-O
Adjustment g as
87
1939 M-N
Registered
Lou
Nov’10
ioo
99
Ililc Burl* (j—Deny D 4s 1922 F-A
Illinois Div34s
1949 J-J
Cent See So Ry
xxlaba Midi Use At Coast Line
108
101
10041014 100%Nov’10
Raiiteay 1st lien 34s...I960 J-J
A laosma
January l
102% Nov'10
.
m- 8
M-S
f-A
J -D
j-d
Railroad
(.
108
General gold 4 4*
Registered
since
41
Nov’05
Jan’7 0
116
1110
1024104
1124
Potts Creek Br 1st 4s.. 1946
R* A Div 1st con g 4s.. 1989
2d Consol g4s...
1989
Warm Spr Val 1st g 5s..1941
Greenbrier Ry 1st gu g 4s ’40
line* Ait RR ref g 3s...1949
Range
High Mo
90% Sep ’09.
104% J’ne'08
166
1st OOUSOi g 5S...........1939 M-N
1992
Registered.............1992
Convertible 44s
1930
Big Sanny 1st 4s
1944
Coal Riv Ry 1st ^u 4s ..1946
Craig Valley lstg 5s....1940
f*
122% 122 Deo’lO
121% 122% 1214 Dec’lO)..
< !ent Pacino See so Pacilic Co,
( !entYermont lstgug4s.el920 q.f
< !has A sav see Atl coast Line,
<
Gen funding* impt5s.l929 j.j
Registered
Loot Sale
......
102
122
_
...
.
State and City
N Y City—44»
Weekfs
Range or
Ask Lou
103%
104%
107%
n
Passign (iorertiment
Argentine—Internal 5s ol 1009 M- S X 984Sale
2
984
98%
95% 984
Impenai Japanese Uoveruurt
Sale
95
7
94
96%
94%
95
Sterling loan 4 4s
1925i F-A 94
96
94
»4L 14 934 96%
2u senes 4 4s
1025 J • J
88*4 894 88% Deo *10
88% »24
Sterling loan 4s
1931JJ -J
103
7 101% 104
Repub ol Cuba 5s exten debt..;M-S 11024103 108
97
97
2
97%
974
7)95
974
San Pauio(Brasil) trust 5a 1919 J-J
6 95 4 99%
964 974 96%
964
U s ot Mexico s l g 6s of 1899 '
914 924 92 4 Nov’10
924 97%
Gold 4s of 1904..........1954
XT hose are pr Use on the b aeis ot $5 to £.
Rid
86
Registered......
*1987
Am Dock * imp gu os..l921
La A Hud R gen fug 5s 1920 j.jj
Leh * WUks B Coal &S..1912 M-Nf
Con ext guar 44s..—plOlO q.m
NY* Long Br gen g 4s 1941 M-S
1144115%
100% 100%
...
.
f
48.1951 J-D
Mat* Nor Div lstg 6s. 1946 J-J
Mid Ga * AU Div 5s....1947 j. j
Mobile DiV lstg6s.....19*6 J-J
101 % 103
1024 1024
•••*
Price
Frida v
Dec 16
N. Y. STOCK EXCHANGE
Wees R-ydinq Deo 16
Since
High Ro Lou
100% Oct'
100%
100% I’ne’IO
100%
101% Nov’10
101%
102 Nov’10
1014 J’ly’10
1164U64 1154 Dec’10
1154 11641154 Nov* 10
1004
100% Aug'10
BONDS
Range
Ask Lou
Hid
(tOTerwiieHi
U 8 2* consol registered.41930
U S 2s con not coupon
dl&3U
U 8 3s registered ........41918
5 6 3s coupon......
41918
0 8 3s com small bonds..41918
0 8 4s registered
1925
tT 8 4s coupon
.......1925
U S Pan Can 10-30 yr 2s. 41930
Week's
Ranae or
Last Sale
on
Next Page.
Street Railway
Met St By gen ooi tr g 5a. 1997 F-A
Ref g 4s
2002 A-O
Rway* 7th Avlstog5s 1943 J-D
Col* WthAVlstgu g 68.1993 M-S
Lex AV * P F 1st gu g 6s 1993 M-S
Third Ave RR oon gu 4a 2000 J.J
OentTr Oooertfs stmpd...
Third Ave Ry 1st g os.. 1937 J-J
N on Ry * Lt gen 44s ..1935 J-J
St Jos By Lt H * P 1st g 5S ’37 M-N
St Paul City Cab eon g 68.1937 J-J
TrLOity By A Lt 1st s 168.1923 A-O
’
Underground of Lou 5s... 1920
44s"
1933
Income 6s....
Union El (Chlo)
M-N
J-J
794h
1st g 6s..1945 A-O
United Rys St L 1st g 48.1934 J-J
United RRs San Fraf 4s. 1927
rknA u.«
ADne j’It
IcDne
101% Sale
984100
974
77
77
48
Oct ’10
101%
101%
98%
98%
934 Nov’10
0O4Nov’lb
68%
106% 108 1074 107 h
85% 84% Oct’lb
§7%
58%
......
Salt
99
104
98
95
89%
87
.
98 Nov’Ob
107% Dee’09
98%
99%
90
98
81%
66
•Das Oct
3
19
....
*66
58
98%
38
100
3
.AAA
6
....
89%
89%
87% Deo’1<
84
80
65
Dot 'Ok
p
Dae Nov
Aaf’H
82%
64
9341024
96
102
964 99
67% 694
66
68%
LOS 4108%
84% 87
....
96
98%
Apr’ok
74%
46
.••*
14
-
••
-
....
V
66
s
•••••
83
99
•••••#
89%
31% 40
79 4
65
33
74
Option Sals
1618
New York Bond
BONDS
N. Y. STOCK EXCHANGE
Wkrr Ending Dro 16
S3
•s’1.
Ohio St P M db o_f con)
Ch St P& Minn 1st g 6s 1918 M-N
Nor Wisconsin 1st 6s...1960 J-J
St P & 8
City 1st
g
6s...1910
Chicdfe West Ind gen g6s91932
Consol 60-year 4s
1962
Chic db W Mich see Pere Marq
Choc O A Golf See CKI&P
Oin H db D 2d gold 4 *08...1937
Cin D db i 1st gn g 5S...1941
C Kind A Ft W 1st gu 4s g.’23
Cin 1 db W 1st iru g 4s. 1963
Ind Dec db W 1st g 6s...1936
1st guar gold 6s
1935
ClStLdbO See OOCdbStL
Oin SAC See O C C St L,
Oiearfleid A Mali Sas BRAP
Olev Cin C A St L gen « 4s 1993
Cairo Div 1st gold 4s....1939
Oin W A M Div 1st g 48.1991
St L Dir 1st ool tr g 4s..1990
Registered
Spr A Col Div 1st
A-O
?:1
4s..1940
J -D
J-J
J-J
M-N
MS
WWVal Div 1st g4s... 1940 J-J
OiStLAC oonsol 6s.. 1920 M-N
1st gold 48
-B
„...fcl936
Registered
£1936
5s. .1928
-F
Oin 8 A Cl oon 1st g
-J
OOC&l consol7s.
J-D
1914
Consol sink fund 7s. ...1914 J-D
General consol gold 6s. 1934 J-J
Registered.
1934 J-J
Ind BLAW 1st pref 48.1940 A-0
O Ind A W 1st pf 5s...<11938
Peo A East 1st oon 4s...1940
u
Inoome4s
1990
dev 6b Marietta See Penn Kh
Olev A Pitta See Penn Co
Ool Midland 1st g 4s
1947
OoloradJ A sou 1st g4s...1029
Refund & ext 44s
1935
JPt W A Den O 1st g 6S..1921
Oolum A Ureenv see So Ry
Ool A Rook Val See Hock Vai
Ool A Tol See Hock Val
Ool Conn A Term See HAW
Oonn A Pas Rivs 1st g 48.1943
Onba RR 1st 50-yr 5 g....l952
Range or
Dee 16
Lout Sale
Wee#*
Sio
Apr
J J
F-A
M-N
J-D
BONDS
since
N. Y. STOCK EXCHANGE
W«h:k Endinm Dec 16
January j
Sty A Wo how
Low
1084 110*3 110*3 Deo’10
9L*a 92
92
92
104
84
83
lOO *a 104
93*4
93
93
90
90
90
91
101
86*4 Oct '10
*! 85
96H>
92*4
02*4
90*3
93*3
93*» Deo’iu
Deo’10
92
92*4 Noy’Iu
94
93
lo6 *3
May’10
96*3
97*4
96
106*8
68
Sale
95 *3 96
97*4
90
90
106 *4 105**
96
..103
68
68
68
95*4
95*,
4
1
68
97 *„
113
97
113
65
93
94*s
813»
97 7e
99
1 111*3114
99*8
May’10
100
100
100
<& A(itWaco
So seeSee
db St P
Dak
alias
C MUKAT
Del Rack A Western—
MomeA Essex 1st7s...1914 M-N
1st oonsol guar
7s
1915
Registered
1st ref gu g 3 4s
J-D
J-D
J-D
J-J
F-A
M-N
F-A
M-S
1916
2000
N Y Lack AW 1st 6S...1921
Construction 6s
1923
Term A improve 4s....1923
Warren 1st ref gu g 3 *38.2000
Del A Rod 1st Pa Div 7&.1917
1917 M-S
Registered
10-yroonv deb 4s
1916 J-D
1st lien equip g 4*38 ....1922 J-J
1st &ref 4s
1943 M-N
Alb A bus conv 3 4s
1946 A-O
Reus & Saratoga Ist7s.l921 M-N
Del Riv RR Bridge See Pa RR
Denv A R Gr 1st oon g 48.1936 J-J
Consol gold 4*38
1936 J-J
Improvement gold 6s...l928 J-l>
1st & refunding 5s
1955 F-A
Rio Gr J ono 1st gu g 58.1939 J-D
Rio Gr So 1st gold 4s. ..1940 J-J
Guaranteed
1940
Rio Gr West 1st g 4s....1939
Mge and col trust 4sA.1949
Utah Cent lstgu g4s al917
J-J
J-J
A-O
A-O
See Moi
Moi AUuFtRyD 1stseeg6s..l917
M A St L M-N
108*3 108 108 *s Oct’10
111*4 112*4 lU^Deo’iO
127
87
94
118
115
....
85
102*3 Feb ’03
U74 120
116*4 118
120
149
98*3 98
101*4 101
101
99*3 100*«
93
ne’06
Sep ’ou
94
98*3
98
103*3 111*4
•ill** 114*«
1184NovT0 ....11118 lisa*
106
Oct’10
jlO0 110‘s
1 j 97*4 101
90*3
98*3
107*4
Sale
123*6
Oot’10
...120
12u7s
Aug’Ol
98*8 152!| 96*s 102
101
99*«
2 100
99 \
93
98
123 *a Sep ’10
106
6, 91
90
91
83 \ Sale
110
94
98
l
Feb’Oo
Dec’ou
Mar’os
90*3
y04
83 7a
84*4
97
Jan’u2
78
85
Sep ’04
Sep ’lu
1
94*s
S3
85
18
97 4
91
74
111
.j
106*3 107*4
Registered
2 118*4 122*3
100
...J 104*4 1067i
....jiOO
4 iOO*u 103 4
....1004 100*4
....!! 9U-* 004
118
11
80*4
11
07
118
87*3
70 76
Kan City (Mo)
Gas 1st a 5s 1922
Kings Co El L <& P
5s...1037
Purchase money 0s..k...i997
Shi Ei il Bkn lstoon g 4s 1039
Lae Gas Lot St L 1st g 5s.«10l9
Ref and ext 1st g 5s.....1034
g
Milwaukee Gas L 1st 4s.. 1927
‘; Oon Gas g 6s
1948
♦
No prloe
Friday; latest bid
100*4 ioo *a
106
105
*32
•
83*a
64
50
8
110
110
a-aa
....
.1114
004
99
89
‘108
1
St Louis Divdbterm
98
101
102*4
97
101
114
064 Sep TO
87*3
83
73*3
113*4
115
114
io84
104*3
83
llO*a
98*3 101*3
1024
Mar’lO
115
L14
162
Oct TO
86L
89 7S
******
1024 1U24
106*3 L004 Dec’10
91 Apr’10
00
******
......
and asked this week,
a
........
107*4
07
ioo" ioi'4
‘.61*3 105*3
*3
....
KTav’IC
102^ 102*3
106
....
102*4
97
102
105
00^
96 4 Sep‘68
165
Oct’10
014 Got ’01
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102*«
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......
97
'**2
161 *3 i03*«
97
97
.66
102
110*3115
86^i 90
09
91
....
Dae Jan
b Due Feb
88*3
95*3
95*4
96*3
41
99
0
96*4 342
128
Deo TO
132
160
Apr’69
J’ne’09
91
89
Dec’10
92
87
94*3
97*3
04*4
Ob7#
93
106
126*4 128*
Deo’iu
110
Jitah
163*4 107*8
97’4 i0U*i
99*4
112*4 Nov’10
99*4
114*3
li3
126
120
116
113*i|
87
947t
102 *3102^| 102»*
102=3
lUU*aSep ’08
94(4
92
104
,
97 **
A-O
J’ne’lo
99*s
00
loO
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123
00
lO0
92
05
162
70
74
98
09*4 Dec To
07*3
97*i Stub
99*«
n
93
05*3
104
105\
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89*s
99
15
90
91
02
1U0\
J’ne'u9
90
_
99 7a 104
167^ Ap; '67
80*a Dec To
94
teep ’ou
93 *a May’o9
80
J ’ly '09
99*3 00*4
90*4
89*a
87
♦97
17
Dee’iu
99*4 *eo’U9
93
00^
*4 166=3
JNov’lo
00
00
Apr 'ou
May'lo
Aia> '99
87*3
88*3
'77* *77*»*
77*4 Mar’lo
70s* Dec'08
19611 J*J
Gold 3 *as
1961 ,J*J
1951 \J - J
Registered
Spring Div 1st
85
g 3*38...I96i J-J
Western Lines 1st g 4s..1951 F-A
Beiiev db Car 1st 6S.....1923 J*D
Card A Shaw 1st g 4s...1932 M*&
Clno St L db N O g 5s...1951 J *D
Registered
ly&l J-D
Gold 3 *as
1951 J-D
City Sou 1st gold 3S..1956
Registered
1956
impt 5s Apr 1956
Kansas City Term! 1st 4s 10oo
A.emuoxy cent see r db N
Ref db
80
Feb’10
161 *4 ect ’99
160
Nuv’oo
80
8/
00*4 00*8
161
94
113
96*8
90^
117 *aMay'iv
96 *4 Oot TO
......
04*3
14*4
65
sale
94*s
9S
i
*4%
97*3
95
107
Nov'10
165*4 Nov 10
102*4 10
65
65
V4.H
04*3
73^
73*s
73=4 Sale
A-O
A-O
A-O
J-J
95
0
11
100*4 11
26 102
ll
i5
a
15
16
105
......
80
96*4 90
*4j4 119
Aa8
118
Cel TO
118
Mar’lo
96
Oct '09
9 / *3 Mar’lu
08
J’ly ’os
95*e 96*3 06 May’10
167*8 108* 167*4 Deo’lo
HU
May’16
103*3
163*3 salV" 102
80*4
1*7*8 117*3
110*3 110
111
116
84 >3
Memph Div 1st g 4s...1951 J *D
St L Sou 1st gu g 4s....1931 M-S
Ind B1A West see C C C db St L
ind XU A ia 1st g 4s
1956 J-J
Intdb Great Nor lstg 6s..1919.M-N
2d gold 5s
1969 M.-S
Trust uo certfs
3d gold 4s
1921 M-S
Iowa Central 1st gold 5S..1038 J-D
Gold 48
1951 M-S
James F A Clear ist 4s... 1959 J-D
u J**Ad»Gr
seeuBAM.a
■OLan db Mich see Tol db O U
K C Ft S db M
See St L db S F
RCdbMRdbB SeestDA SF
Ran C db Pacific see M K db T
63
20
09
94
7
9
71*3
74
Oct *ou
ioo*i ioi*t 101*«
98
161*4
Nov’lu
23
99*3163
93
08
Reok db Des Mo see c R I&P
Knoxville db Ohio See so Ry
Lake
Rne5s
db W 1st g 5S..1937
2<1 gold
1941
North Ohio 1st gug 5S..1945
L Sho db Mioh S see N Y cent
LehValN Y 1st gug 4 *as. 1946
Regis terea
1946
Lehigu Vai (Pa) cons g 48.2663
V Ter Ry 1st gu g5s.l041
Registered
1941
Leh V Coal Co 1st gu g 5s. 1933
J-J
J-J
107
105
Deo TO'
103=8
94*4
*06*3...— 94*4
113
113*3 113°8 Nov’10
169*3 Get '99
168
N0V’09
lU0*fc ....
94
93*4 Mar TO
105*4 108*3
101*8 Feb TO
161*4 Sep '69
iol *3 iu’i*i
M-N
A-O
A-O
J-J
M-S
M-S
A-O
A-O
Die
....
102
166 *3
165
u4*4
1x2
93j4
95*4
91*3
00*3
97
Sale
116*4
96
112S
97*^DeoTU
03
07
90 *4 Oct’60
95
95
97*4
166*4
93*3
100
90
165
98
no
110
109*3 110*3 110
98
91
05
108 >8 112
94
Oot TO
95
164*8 Deo’68
Light
6s.l947
Philadelphia Co conv 5s ..1919
Syracuse Lighting 1st % 6s.’51
Trenton G db El 1st g O8..1049
Union Elec LdbP Istg6s.l932
Westchester Light’g g 5s.l95u
«
107
107
Next Page.
Purchase money g 4s...1949
Ed El III 1st cons g 5s.. 1995
N YdbfjEl Im&P 1st oon g 581936
N Y db Rioh Gas 1st tr os.1021
Pacific G A Eleo Co Cal G A E
Corp unifying db ref 5s 1937
Peo Gas db c 1st oon g 6s. 1943
Refunding gold 5s
1947
Ch G-Ldb Cke 1st gu g 6s 1937
Con G Co of Ch lstgug5s.’36
Ind Nat Gas A Oil 30.yr 5s ’36
Apr
108*3 112*
160*3 107*3
106*4
1934 j-D
NYGBLHdbPg 5S...1948
d Due
106 *a Mar 16
169
Mar To
167
J-J
J-J
a
on
110*« 109S Nov’10
109
*
A-O
Leh db N Y 1st guar g 4s..1945
Registered
1945
El O A N 1st pf 6s
1914
Gold guar os
1914
Leh Jb Hud R see Cent of N J
Leh A Wilkes L> See Cent oi N J
Leroy db Caney Vai See Mo P
ijong Dock See Erie
cong Isi’d—1st con g 5s. A1931
1st consol gold 4s
A1931
General gold 4s
1938
Perry gold 4*98
1922 M-S
Gold 48
1932 J-D
Uuihed gold 4s
1940 M-S
Mu Fuel Gas 1st aru g
161*4
02*3
Since
January 1
84
99
111*4114
112**
89
Range
iui"‘ ib*‘i*i
lu8a4 J’ne’09
98 *u Nov’lo
160*4 UOI ’66
99*4 Jan To
114*3 Nov’10
126*4 Nov'10
130*4 •'* a>’60
1U
g3s.l95ll J - J
Registered.
Debenture gold 6s
1*06*4 **1004 *11*
ioo4 DeoTO
97
126*4
Registered
1953M-N
Cairo Bridge gold 4S....195U1 J -D
Louis vDivdbTerm g3 *38.1953' J - J
Middle Divregds
1921 'F-A
Omaha Div 1st g 3s
1951 F-A
Leu
102
65
97*3
95 V
J-J
1962
Gas and Electrio
106*4 Sale
96
95*«
1st ref 4s
1965 M-N
LNOdb Tex gold 4s ...1953 M-N
AilSCKJLLANEOLIS BON Dai—Continued
Gas and Electrio Light
Atlanta G L Co 1st g 68.^1947
Bklyn U Gas 1st oon g 5S.1046
Buffalo Gas 1st g 5s
1947
Columbus Gas 1st g 5s
1032
Detroit City Gas g 5s
1023
Det Gas Co oon 1st g 6s,..191b
G LN Y 1st oon
g5s..l032
Gusdb Else Berg Co eg 68.1040
Gr Rap G L Co 1st g 6S...1916
Hudson Co Gas 1st g 5s.. 1040
Ang’10
Sep '10
104 >'4 166
Hook Val 1st consol g 4 *as. 1999 J-J
Registered
iyyy J-J
Col A H V 1st ext g 4s..1948 A-O
Col A Tol 1st ex 4s
1955 F-A
Houst E db W Tex see So Pac
Roust A Tex Ceu See So Pac Co
J-J
Registered.
1961 J-J
1st gold 3*as
1961 J-J
Registered
lyol J - J
Extended 1st g 3 *38
1951 A-O
1st gold 3s sterling
1961 M-S
Coll Trust gold 4s
1952 A-O
Ran
108*3 108*3
--
'
87j4
94
88
72
6 106
89
Sale
Gold 48
89
89
1996 J-D
74
Det SO—O 8 DIV 1st g 48.1941 M-S
Oct’10
DcUdb iron Range 1st 6s.. 1937 A-O
109
iu9
106 4Mar’0b
Registered.
1937 A-O
2d 6s
1916 J-J
Dul Short Lone See Nor Pao
Dal So Shore A Atl g 5S..1937 J-J
106*3 108*4 107 *3 Oct ’10
L'astof Minn seeStPMdbM
Ciaat Ten Va A Ga See So Ry
Elgin J oi A East 1st g 5s. 1941 M-N 10873
108*3 Nov’10
ElmCortdbNo See LehdbN Y
Erie 1st oonsol gold 7s....l920 M-S 121H» Sale 121*3
121*3
NY A Erie 1st ext g 4s 1947 M-N
100
98
J’ne’lo
2d ext gold 5s
1919 M-S 103*3
(104*4 Oct *10
3d ext gold 4*98........1923 M-S 101*3
il00*3 100*3
4th ext gold 5s
1920 A-O 103 *3 ......'lOO *4 Jan ’10
5th ext gold 4s
93
i 99*4 Feb’io
1928 J-D
N Y L E dbW 1st g fd 78.1920 M-S
out’10
Erie 1st eon g 4s prior..l996 J-J
84
84
83*s 31
Registered
1996 J-J
83*4 81 *3 Nov»09
1st oonsol gen lien g 4sl996 J-J
74*3
75
74*
75
*
Registered
1996 J-J
85*s Feb’07
Penn coil tr g 4s
1961 F-A
80*3 80*4 80 *3 Nov’10
60-year oonv 4a A
1963 A-O
73
72*8
72*3 Sale
do
Series B.1953 A-O
68*4 76
60(3
60*3
Buff N Y A Erie 1st 7s.. 1916 J-D 110*s 113
110 Deo’lo
Ohio A Erie 1st gold 5s..1982 M-N 111*4 112 111*3 Deo’io
Olev A Mahon Val g6s.1038 J-J
Deo’08
111(4
- 121
Long Dock consol g 6s..1935 A-O
Coal db RR 1st cur gu 68.1922 M-N 104*4 109*3 114 Apr ’10
Dock A imp 1st our 6s..1913 J-J
103 *3 Oct ’08
1(M>4
NIA Green L gu g 68.1946 M-N
99*4
1 99(4 Nov’10
N Y Bus A W 1st ret 6s.l937 J-J
100S^03 1101 Deo’10
2d gold 4*as
100 *3 100*4 Deo’00
1937 F-A *
General gold 6s
80
1940 F-A
87*3 89 J’ne’lO
Terminal let gold 6S...1943 M-N
Il0*s Nov’lo
Regis $6,000 each...1943 M-N
Wilt A Ea lstgu g5s. 1942 J-D
I
98*s 99
98*3
98*s
JtrA Ind 1st oon gug 6s.. 1926 J-J 110
112 ‘114 Oot ’09
iusiiiio
•
97*3
123*« 180*4
98
66
84
122<*
V-D
!
$
Han
A St JoSeeSeeN On
ij R
ousatonio
Y NA
Hdb
103
40] 96*3 100*3
93*s Sale
1
93*3
93*3
024 974
lot
lo2*3 lol*3 Dec’io
101*3 I04*s
100
100
101*4 101*4 Nov’10
105
894 Sale
S9*s
90*3 60 89
94*3
es
Det A Maok 1st lien g 4S.1995 J-D
J
92
84*3
95*^ Sale
J-J
J-J
©
Jityn So Low
80
iiimois Central 1st g 4s..1951
A-O
J-J
Registered
1937
1st guar gold 6s
1937
Will* S F 1st gold 5s 1938
Greenbrier Ry See Ches A o
Gulf <te s i ist ref db t g 6s 51952
!1 J|
10» *s 161 *aNov’10
114
112
Apt ’60
95
J’ne’68
95 *3 sale
98
99
1937 J-J
or
Dec'69'
116
86
E MmnNorDlvlst
g 4sl948'A-O
Minn Union 1stg6s.. 1922 J-J
MontC 1st gug 6s
94*3
67
Ask Low
101
164
95
1933 J-J
Reauoed to gold 4*ss 1933 J-J
Registered
1933' J - J
Mont ext 1st gold 4s.. 19371J *D
Registered.....
1937! J-D
125*3
89
68
Wee/c't
Range
Last sale
110
Registered
108
J’iy’08
58
Rid
See Penn Co
Evans A T R 1st cons 08.1921 J-J
1st general gold be
1942 A-O
Mt Vernon 1st gold 6s.. 1923 A-O
Soil Co Branch 1st g 68.1930 A-O
L argo <fc so see Oh M A st P
1 lintdb Pere M See Pere Mar
Fla C A Penin See sea Air Line
Fort St U D Co 1st g 4*38.1941
-J
n't W A Rio Gr 1st g 4s... 1928 J -J
I *ai Har A s A see So Pac Co
' Yai R & r
of 18821st 68.1913 A-O
Georgia A Ala See &ea A Line
Ga Car A Nor
See &ea A Lme
Georgia Pacitio see so Ry
Gila VGA Nor See So Pao Co
Gonv A Oswegat See N Y Cent
Grand Rapdb Ind see Penn RR
Gray’s Pt Term See St L S W
Gt Nor—C B A y coll tr 4s 1921 J-J
1921 Q-J
Registered. A
St Paul M A Man 4s. ...1933 J-J
1st oonsol gold 0s
1933 J - J
98
119
.
jPrtco
Friday
Deo 16
Erie A Pitts
lj| 96*3 98*3
90*" NoV’To
91
68
94*3
96*4
..
125 *a Dec’10
94
97*4
U24
u64
AuglO
Oct ’10
103*4 Deo *00
126*4
90*3
57
..
108
108
90
89*4
Dec’09
106*4 Feb’10
95
93*4
96*3
93*3
•jo; ’07
91
90
90
100*»
108
87*4
101*4 107
102
Sep *10
107 *3 Deo 02
h-2
High
108*3 112
88
93*s
Oct ’00
Oct *10
118
105
105
”
e
Range
©
L/*
12241264 123 J’ly’10 ....] 123 127
1224 127 *3 1204 May’09 **••[]#••»*• ••*•••
112
112** Dec’10
I’l 1 L»3 114*3
J-J
M-S
M-N
J-J
J-J
J-J
.1990 M-N
g
Rnce
Fridav
[Yon. nxxxxi.
Record—Continued—Page 2
May
J-D
F-A
J-J
F-A
101*4 SMe
85
Sale
M-N
101*3 101*4 80 90*3
84*4
36 *v 41 80
116*4 Hi3! 116*3 Oot TO
116
166*4 Mar’10
106(4
97 *8 J’ly '60
M-N
A-O
M-S
9l*« 92* 92=4
92 =b
0*3 J1?. 116*3 Aug’10
106
101*1, (01S loi3®
J-J
J-D
M-N
M-N
F-A
J-D
d-S
MS
J-D
h Due J ly
11
---
.
162*4 194^8 162*3
106*4 163
96
100
160
08
,
91 *s
Nov’101
90
Nov’10
Mai’10
106*8 101
Sale
ioo
98
ibo*i HI”!
110
93
103*4 Sale
108*4
~fe“Dua
Aug
q
162*3
161
166
Aug’l o
Mh<’65j
Oct’lC^
104
Due Deo
s
01
116*3
1011®
102*3
106*4
00
101
09
52
98
*93*
29 100
Option Sale
103(*
87
111*3
101*4
93
119
104
104*4
102
90
101
105
100
;«
Dec. 17
"3
BONUS
«
JX. Y. STOCK EXOHA NOB
Wrkk KUDIN*- Dbo 16
o
St
■s&sssasffi.
Bkiyn A Mont
4gffi“i-i
lstg6s..l?ll
M-8
1937
1940
Unified gold 4s
M-N
J*J
Registered
1940 J-J
Sink tund gold 6s
1910 A-O
Coil trust gold os...
1931 M-N
E H A Nash 1st a os....1919 J-D
L Cln A Lex void 4 Vs- ..1931 M-N
NOAM 1st gold Os....1930 J-J
NOAM 2d gold Os
1930 J-J
Pensacola Dir gold Os...1920 M-S
St g i)iv 1st gold Os
1921 M-S
2d gold 3s
1980 M-S
Atl Knox A Cm drr 4s.. 1965 M-N
D
Atl Knox A Sor 1st g 681940
Header Bdge 1st s t g 6s. 1931 M-S
Kentucky Cent gold 4s.. 1987 J-J
LAM A M AM lstg4 Vs 1946 M-S
LA N-South M joint 48.1062 J-J
N If la A B ist gu g 6s... 1937 F-A
J
N AC Bdge gen gu g 4 Vs 1946
Pens A All 1st gu g Os.. 1921 F-A
SAN Aia con gu g 6s..1930 F-A
L A J ett Bdge Co gu g 4s.. 1946 M-S
L N A A Ch ttee OlA L
Mahon
M S A-O
Co&iHybee
L8A
anliattan
oonsot
48.1990
1990 A-O
Registered
Frio*
Weekfs
Range
Frldav
Dee 16
Range e/r
Last sale
Since
A sk
'V
N Y B«fcM B 1st con g6s 193b A-O
1927 M-S
NTA BB let «r 5s
Not Sh B 1st con g gu5s ol»3‘2 Q-J
Louisiana A Ark lat g 6s. 1927
Louist A Masnv gen g 6S.1930 J-D
Gold 6s
Stmpd tax exempt.. 1990 A-O
MeK'pi A B V bee N V Cent
^
101*8 Bee *08
110*4 Nov’06
105
Apr’07
104
Deo'10
1U3
101
101
95
115
97
Nov’OP
115 >9 115*9
'15*9
11*9 Dec’lo
^8*9
98*4
08*s Sale
97*9 Nov’10
104^ 100
100 St Dec ’09
107 *9 Sep’lo
115
cot ’10
104*9
104*9
122 V
12IV Not* Id
108
110
....
....
....
1st ext gold 6s
1st A refund 4s
Gen s l 4 *2®
114
7iV--~
71
Ain) 09
98H. Sep *10
112
1*2
110
Jan 09
01
110
05 V
112
92*a
91
112*9116
103
....
94 Hi
102*9
96*«
-
98*9
92
M-8
M-S
F-A
M-S
M-N
1st A ref conT 6s
iy6n M 8
Ceni Br By ist gu g 48.1919 F- A
Cen Branch U Plstg4s.l84b J-B
Leroy A C V A L 1st g 6s 1920 J-J
Pao R ol Mo 1st ex c 4s. 1938 F-A
.
2d extended gold os...1938 J-J
St L lr M A Sgen oon g &81931 A-O
A-O
Gen con stamp gtd
g &s 1931
Unwed A rei gold 4s.. 1929 J-J
Riv A G Bit 1st g 4s.. 1933 M-N
Verdi V 1 A W 1st g 68.1920 M-S
Mob J A K C 1st cons g 5s.l95o J-J
Mob A Ohio new gold Os..1927 J-D
1st extension gold 6s../tl827
General gold 4s
193a
Moutgom Biv ist g 6s.. 194* F-A
St g A Cairo oon g 4s..*183o
193i
Guaranteed a 4s
M A o con 4s bee southern
Mohawk A Mai NeeN 1 C A u
2:1
n
Mononganeia Bit
97 N
97*9
V'08**9
100*9114
68 Hi 94
037® 98*4
Apr 06
98*4
104
98
94
99*9
V May’ lu
25*9 Apr ’u9
77
Mar’lo
79 Nor 10
May'lU
100
Nor’ 10
118 Jsn’O.
iou*9 J’iy 10
74
..
108^
aale
108
72
Decio
92
87
Mar’lo
97*4
m
8u*v
85 *s ^alo
96*s 100
98*9 08*9
08
83-.
lO 1 *4
34
96 *9100
82
87 a4
U 100
105
3 78*9 85*4
83*9 90*4
2
79
U5H>
79
84*4
A pi
09
J'ne’10
196
90J,
<6
93^ dan’ic
88
101
69*9
luo
I06
80 *s 93 H»
3 106
113
103
108*9
89 *9
HI
109\ 1iUa4 Hi
107*9 106*9 106*9 Not lo
102
103
104
109
106*9 109
ioi
106*9
loS-a
101
p9
_
*9
98*9
9»V
92*s
83>k 85*8
m3 Hi
Bee lu
ioi*s
b3~<
84*9
84
....J 76
817s
06
01*9
9&
^aiay’lo
86
87 *9
TO
llu
22
AiiU’UO
06*4 Cot 'lu
HO
1 iO
.
106*4 le7 *« 106*4
100*9
102<*
80
yiOgDeo’lu
liO
111
4 100
91*4
91 *4
92
mm *9
108
107
....
Nov’ ‘ 0
77
063. Nov’09
37
*9105-»
1 lo5
aOi**4 «0 100 102 >4
Mar’i ....'I 99*^ M**
91*9
109
...lUO
110*4 Apr’^y
lOiVjiOiV
1
77
...
Dee’io
101
108*9 109
lOx3* oalo
100*9 101
I02*b 100
67H» 81 Hi
87
0ia4
41
SBIqNot'IO
97^ Sale
97*9
82-9 83*9 b3 *4
lol
1o2*4 101*4
132
131
132
108V
111
b3 *9
Geo
96*4 iOO^s
lu?
14 106*9 110
aep’uy
l’ bi’* *86
Beo ’ 1 u Illl
10! 82*4 8i»4_
102*9 102*9
84*«
102 *9
00
113
Jan To
t\
Geo’06
iVft”
li8
121
i:2iH»
lIttiaBeo lu IIII
H4*9ll7*»
113*9 116*9 114 *4 Dec 10
b3
86 *a S6*» Oot To ...J! 86*9 eO
100
109*9 Nuv'10 ....'To7
lo9V ....
85
ao
75
Mayus „.H
♦93
04
06
04 NoyTU
.
....
bee BAG
Jasper Branch 1st
g Os..1923
UoM M W A Al 1st Os.. 191 <
TAP Branch lat Os....191
Nash if lor A Shei bee LAN
Nat Rys ol Alex pr 14 Hs 196/
Guar gen 4s
1977
Natoi hex prior uen 4 Vs.1920
1st oonsoi 4s....
1951
New BAB 60S N Y N 11 A G
N J J uno KR bee N Y Cent
N X Bkm A Mao Boh bee L i
N Y Cent A U Bit g 3 Vs.1987
Registered
1997
Deben g 4s
1934
Lake aiiore coll g 3Vs... 199b
Registered
1998
A-O
J -D
N
N
N
N
N
106*9
...
3 106*9 110*4
106*9
A-O
J-J
J-J
J-J
109*4 110 *a UO Deo’lu
116*4
1167b Nov 10
I-J
94*4
04*4
90*4
89*4
90
100*4 104
100*4 Nov'10
A-O
J-J
A-O
J-J
J-J
M-JS
F-A
F-A
4^*“-*
107
F-A •---— ll>6 H» 105
M-N 103
104
102
95
J-J
82*a
110
Oot TO
02
J ne*09
125
J’ne’OO
Feb’08
100
Nov’
9U*a
0O*s
80*4
88
80
I 08
03«0balo I 9234
110*s ...... ......
03** Sale
J-J
110
J-J
A-O
J *J
93*f
96*4
*98 *i
107
110
104
104
100
102
89 H. 02 *»
02
88
29 92
053*
82 02
05*4
12
93^
....
Hu*aOct TO
109^115
100
07
03 V
1
t
_
«
85
b8 V
00
9i34
00
1
09
98
Dec’09'....
00
J’ne ub....
AprTO
01*4 Nov’10
b7
00
02 V
*01V
28
67
112
iUU*4
107
13084 135*9
06a« 103*4
112 *s» 116
..
Aug’uO
I 057s
97
00*4 102*4
06*4 IOO**
6
...
133*8
05
07 Hi I00*a
16
III "ou” 92*’
00*9
100*8
112 *8 Oct TO
100*4 sale
......
89
100*sDec’10l
133*8 Sale 132*4
••••••
......
....
90 H»
l>ec’u9
91 *8 Oot To
I00<fe
100
......
....
00*a
1
00
09
1
iOo
91
Bale
110*8 110*8
....
87
90*8 bale
Ou
101
96
4
08
06
101*9 J’ue’06
N Y A Put aee N Y c A H
N Y «te R B aee Gong island
N Y & A W
bee n>ne
N Y Tex a M aee so Pao Co
Nor A south 1st g os
1941 M-N
Non A West gen g 6s
1931 M-N
BnprovemT A ext g 6s..1034 F-A
New River ist g 6s
1932 A-O
N A W Ry 1st COU g 48.1006 A-O
Registereu
1906 A-O
Dit’i let 1 <te gen g 4s... 1944 3 • J
lu-25 year conv 4s.... 1932 J-B
Pocah CAL, jowl 4s..i04l J -D
C C 2b T 1st gu g 5s
1022 J * J
bcio VAN E ist gu g 4s 1080 M-N
North Illinois aee Chi «fe N W|
NoruiOluo bee g Grie a W
|
Nor Pao—Prior uen g 4s..1997 Q 3
1003k.
101
124
125
4 1x3
126*9
126
MarTO!.... 124^8 i20*k
123 MayTO.... 123
124*4
9834
yo7s 10 06 Hi lUO
0/
07
07 " Api 10
0384
OJ9*
0J'b 52 01
00a4
100461 04 V108 Hi
86 Hi 00*9
80*9
88*8
105
Not’10
l0434 106
04
96*9 Dec’10
96®*
12a
1x2*8125
ya3* saie
9**4 *93»i
iOu^a c'aie
88*4
90
104
..
100
100
08
09
Sale
995e
00 I 09
70*9 7o34 Vu*9
7 i ( 70
......
F-A H6
Bt Paul A Bui 1st
F-A
....
99
1023a
08*4 101
6**9 74
6*
72*9
96*a ,07*9
00
09
....
eoTO....
00
......
39
1
11
7u78
Dec To
bbHlNov
id
r
96
C B A 14 coil tr 4s bee Gt N or
Bt P A N P gen g 6s....1023
X01*t
..
07
1097
J
General uen goui3s....a2047 *J-F
Registered”..
«2047 *J*F
St Paul-GUI Bit g 4s. ...1006 J-D
Bui short l 1st gu os..1016 M-S
100
MayTQ..
125
i's6
Registereu
,
Registered certihc’s..1023 *4*F
,i.yl7 A-O
1068 J -D
.1048
03
:....
yl902 M-S
1st oonsoi golu 4s
Wasn cent 1st g 4s
Of
*
90Hi
Dec’ 10
93*a
120
107
J *J
Y A Green w lmulo aee s*rie
1 A nar aee N Y c <b Hud
Y Gaea A W bee D L, A W
Y g n. a W
bee Erie
Y A Gong Br bee Centof N J
N Y N G «fc H—ConT us.. 1948 J-J
Cout deben 3*as
1006 J-J
Housatonio R eon g os..1037 M-N
N H a Geruy oon cy os. 1918 M-N
N Y A North aee N x g a H I
N Y U A W rei lstg 4s..yl902 M-S
2d os
90 7i
Cel ’07
100
Dec’00!....
130*s Jan ’00 ....
122*4
J*J
1031
08 7&
I0l7b 102 *«
80‘s 91*4
109
......
122
1937 A-O
...1937 A-O
08
Jan U8
J ue iO
*t Feb To
84
100
89Hi
Novi t
,115
=
1
•95
I08
Debentures 4s
....1931 M-N
West snore ist 4s gu...2361 J-J
Registered.............2361 J - J
*4-M
118*sNotT0
......
H*
110
'
106*8
‘
.... 116*8 118*4
rebTO1.... il7 117
J’ueTuI
"
103
Oct TO
06*4 06*4 Apr'10
103
101
02
91
....
....
HO
IU3
UO
103:*8
06*9 0i *9
111*4
111*9
Nov’lvj!.... 04*4 92*4
2 110*9 1118!
lll*a
104*9105
104
Doc TO
02 *4
.
Nor Ry Cat bee &o Pao
Nor Wis
bee CslPiL AO
Nor A Mout aee N Y Cent
Urnu A W bee C C C
1 acoi Missouri
j
105
------ ------
ist g 4s
Regis *5,000 only
,, rt
97 *9 Apr OJ
10634
Registereu...
Jlide & 1st g 3*9S.....1u51 M-S
1st g 3 His
.........1062 M-N
*2o-yeardet> 4s
Iu29 I O
fiat c sb oiur ist gug 38.1080 J -D
g
A
98*s 98Hi
....
------ --------
A-O
at L
Oswego A Rome ass NYC
L>ao Coast co ist g 6a....1046
bee at P M A M
bee a P Co
ca A l
Morns A Essex bee Bel LAW
j
....
wo Rit RR
bee i>ait A C
Ore A Cai bee Bo Pao Co
ere snort Gine
see Un Pao
Morgan's
0011801
....
98-jtNovTo
03
F-A
M-S
W-M
J-J
1940 J-J
N Y Chic A st
Since
% January 1
987g J h® 10
cel 02
M-N'
93 Aug 10
A-O •---•• •--*•*
A-O
07^4 98*9 867s-Nov 10
M-Sj
1031 M-N
s
Range
--•••
....
Mont Cent
Nash
at g6s1st 78.1913
lSl Chat Agold
192c
g 4s
»
Jligfi ifo Row High
1
78
79*9
79H»
82*4
>0*9 Deo’io
7938 80»i
98 V Dec TO
97
98\
79*9
79*9
J-D,
J-D
3*9S....1007 J-D
Registered...
1997 J-D
Debenture g 4s
1928 M-S
KaAdsOK 1stgi -6s. 1938
Mahou CT KR Is. os..1934
Pitts <ss u Erie 2u g 5s.al928
Pitts McK A Y 1st gu 68.1932
2d guar 6s..............1934
McKees
B V lstg 6s 1918
Mich Cent 6s.............1031
Registered...
1931
4s
1940
1
i
_
^
Low
ask
Altt
A
F-A ...
F-A <*
9S34
J-J
Lake Shore gold
Registered....
130
m
OgJbLCliamistgu4sgl948 J-J
Rut-Canad 1st gu g 4S.1949 J - J
8t Law A Adir 1st g 6s. 1006 J - J
2d gold 68
1996 A-O
Utica A Bik Bit gu g 4s. 1922 J - J
77
79
100
76
79
lUO
Dee 16
2d gu gold 5s
BeeohCr Ext 1st^
Cart A Ad 1st gu e 4s.. .1981
Gouv A Oswe 1st gu sr 5s 1042
Moh A Mai 1st gu g 4s.. 1901
N J Juno R gu 1st 4s...1086
N 14 Harlem g 3HH...2000
N Y A North 1st g 6S...1027
N Y A Pu 1st oon gug4s 1993
Nor A Mont 1st gu g 6s. 1916
Pine Creek reg iruar 6a.l032
R W dbo oon 1st ext 5S.A1022
Oswe A R 2d gu g 5s...«10l&
R WifeOTR 1st gug 68.1918
Rutland 1st con g 4*as..l94l
06*4 90 >»
27*9 317<
09*«
3.
*• 99 7*
Weekfs
Range or
Laet bale
J-4 ■ «?8*a
1936 J-J, 106*4
3*93 61951 A-0|
84*9
26-year
110*4 110*9
Oct ’10
94
97*9 .Sale
07
Price
iriday
106*4 112*9
110 *4 Oct 1
110
Noy'IO
....
111
110
90
A-O
al917
1920
1945
1938
Registered
Istooli gold 6s
40-year gold loan 4s
8d 7s extd at 4J0
94
01*9
102
105 *9
80*9 02
103
15-2
U K
....
110**
J-J
F-A
A-O
M-N
MS
J-D
M-S
M-N
y6*4
94*4
i03
-
89*9 9034 Oct *10
107*s 112*9 112 vNov’lu
J-J
M-N
106
121V 126*4
[118*9 U8S
106*4 110*4
113
J-J
1930 J-J
St L Bit 1st rei g 4s....2001
Dai A Wa 1st gu g 6s...1940
Kan c A Pao ist g 4s...1880
Mo K A A 1st gu g 6s...1942
M K A Ok 1st gu 08
1942
M K A 1 Ol T 1st gug 68.1942
Sher sh A so 1st gu g 5s. 1943
Tex A okia 1st gu g 5s... 1943
Mo Pacific let oon a Os ...1920
Trust gold 6b stamped.al917
2 ii03
Sep'10
113
....
Stamped guaranteed... .1977 M-S
Ilex North 1st gold Os....1910 J-D
J-D
110
111*4 116
106*»NoVi0
....
76
F-A
.....1944 M-N
2004 M-S
104
lo7
.
BONDS
N. Y. STOCK EXCHANGE
WkRR KNDIND DEO 16
N Y cent A H. ti—ftonj
uich cent coll g 3Hi«....1998
Registereit
1998
Beech Creek 1st gug 4s. 1936
Registered....
1036
112*4 U6*4
111*9 114
35 96*4 100*9
97a4 07*4
1 i8*9 -><>*’10
2d cons wo g 3s trust reels..
Ilex internet ist con g 4s. 1977 M-S
J-D
A-O
J-D
M-N
M-S
104
117 ‘g....
100
113
99*V 09 °t
Midi cent been Y Cent
Mid ot N J bee Brie
Mil LBA W bee ChioA N W
MU A.Norm bee Ch M A St P
Minn A Bt g 1st gold 7&..1927
Pacific Ex 1st geld Os...1921
South West Ex lstg 78.1910
1st oousoi gold 6s
1934
1st ana refuuu gold 4s.. 1949
Des M a Ft u 1st gn 4s...’35
Minn A St l. gu bee B C HA N
M BtP A S S M oon g 4 mtgu ’38
M S S M A A 1st g 4 int gu 1920
MWu Un bee st P M AM
Mu Kan A lex 1st g 4s... 1990
2d goal 4s.......
...0i99O
January 1
Mtgn -60 Low dtga
13 94*4 100
L<yu
L
Meat Cent cons g
4s.......1911 J-J
lstoonsinog 3s
a 1939 J'iy
,
1619
New York Bond Record—Continued—Page 3
1910.]
I06 *a
iU8a4
106-a
113
108*9 110
..II15 *4 116
l lu8a4 L0Ba4
..
lusa4
J'ly'04
17 I 03*9
4 87*9
94*9 Sale
83*8 84*4
88*9 89*4
....
88*9
93*8 bast
30 ** Sale
78*4
84*9 Beo’lO
89
87
93**
8u*«
70
95*4
9i *4
lOU *4 102*4
82
86
90
89*9
26|
93a4! *7’i
21
80*4
87^
92
86*9
00*4
0&*H
82*9
80*9
02
70*9
78
Deo TO
M-S
M-N
3*98.......1012 M-N
8 *98.......1915 J -D
Consul gold 4s
1948 MN
Aneg Vai gen gu g 4s...1042 <vi-8
BttRRS Bge 1st gu 4s g.'36! F-A
Lima Raids W lstg 4a.. 1043 M-N
Bou Bay A bo ist g os...1024'J - J
on
......
102
103*9
Aog’10
luOHi Jan 'uy
102 *4
102 *4
1 192*4 106
97 V 102
yb3*
9o34
2
0oa4
80 270 94 7» 97 *9
3 10 ta4 1017t
103*V 1037e
10U
loo
Out To
102*4
J-J
no
102 V 103
06*8 09
96
*al«
103 V i-aio
luo
94V
I01V
100
lot3* Deo’ 10
......
M-S
Registereu...
1921 J - J
Guai 3*98 cull trust reg. 1037 M-S
Guar 3 *98con tr ser B...1941, F-A
Tr Co oerufs gu g 3 *98.1016 M-N
Gu 3 *9S tr eUs C
1942 J -D
Gu 3 SjStr oils B
1044J-D
lUlSCELL iMKOUS BONDH—Continued
102*9 l087a
102
*VI-N
Convertible g
Convertible g
UNJ RR «te Can gen 4a.1044
Penn Co—Guar lstg4His.i021
Nov’10
3-D
bee Mo Pao
Penn RR 1st real est g 4s. 1023
Consoi gold 5s...........1010
Consol gold 4s...........1043
103
lo2
I02
103 V
103 *8
j an
....
’03
lol34 ioi34
......
......
-uay’lO
lo3 104
i03
106
103 V
Dec TJ
i0o*4 i0334
los34 ifeb’10
90
00
90
Aag 1J
88
91*9
89 *% 89 V Geo'10
05V 98V
9S S» 9/ °g Dee’lo
87 00
8034 87
Aug’lO....
90*4 01 Dee’00
....
..
....
80*9
....
....
97 *9
84*9
86V
....
Next Page
Coal and Iron
Buff A Susq Iron s 15s....1932 J-D
Debenture 5s
O01
t
a
a
co
gen s 1 g os.. i04o
Convertible deb g 5s....1911
Col InuulstA coil 6s gu..l934
Contw'talC 1sts 1 gu5sg.195*
Gr Riv coal A C 1st g 6S..1019
Jefl A Clear c A l lstg 6s.l926
i
KanAHCAClststg6s.l9ol
Pocah Con Collier lets f 5s.’57
Sunday Cree*Co g 6s....1944
renn Coal gen 5s
1961
Tenn Div 1st g 6s
al917
Burn DIt 1st consol 6s..1017
Cah C M Co 1st gu g 6S.1922
Do BarCA ICO gug 68.1010
Victor Fuel 1st s 15s
1058
Valron CoalAColat
g
96
19^6 M-8
f -A
97
F A
F-A
F-A
A-O
j -D
J-J
U9V 1**0
76
J-J
J d
F-A
7b
90
*99*
85
j -j
J 4
A-O
J-J
sale
10334 Sale
104 V 106
10479 Salt
loti
96
1047a
96
Han u 1 acturing
Nov’09
90
Beo To
1*6
97 v
Deo’10
Deo lo
i07*s .-t.c’o4
102 °s Apr’06
107
May’07
105 V Bee ’06
88 J’n^lO
78
Feb’o?
103 V
103V
lo4*VOct TO
ilo
100
J -J
5s.l040|M-S
99 V
00
08 V
99 v
/ 6 Hi
1047s
Jan’o.
Jan *
87
Aug’00
96*9
06 V
....
06
93
70
90
101
99 V
82 v
*
*88** *8*3**
*4*
6
102
108
104 V
107
10SV107
A
Ag Chem 1st 0 58..... i92b
aui cot on ext 4 Vs
1015
Am Hide A g ist s r g 6s..1019
Amor Ice oeeur deb g 6s.. 1026
Am BpirltS Mtg 1st g68..101i>
▲m Thread 1st eoi tr 4s..l0lu
Am Tobacco 40-yr g 6s.... 1044
4s.
1951
leth Bteei ist ext si 6s..l0-t
Am
ent
Geather 20-year g
l iobaoeog4s
Prod Ret s i g 5s
6x1925
195.
yoru
193 .
st 25-year st 6s
103 *
Cuban-Amar sugar cell tr us T 8
ous
•
....
1
100
94 v
100
ioo
V-F
M-S
A-O
M-8
J-J
A-O
F A
1
-J
4-0
F-A
M-N
M-N
I.U
«*c» oroonv let g 6b.’2 . A O
Distil
EI duPont Powder 4 Vs.. 193b J-D
•Noprios Friday; latest bid and asked. oDueJan hDnsFsb sDueMsy p Due j’ns AJDueJ’lj AfiueAug
J-J
A-O
77V Male
76V
105*4
106V
bale
80 V Sale
bait
86
w*V
79 V
97 V
93 V
06
77 V bale
83
Sals
o Due cot
9 Doe
15
....
03V
92
60V
84 7g
103
08*9
102
78*9
94
101
89
93
18
184 104 V 109
....
89
80
97
05
Dee* 0
86
80%
97 V
96
97
106
...
80 V 70
86 V 30
9* V 142
Not’ 10
Deo TO
bO
BSU
8 72
17 loO
77V
100 S
102 V bale 102
06
07V 07 Deo’iO
06 V
95 V Bait
06 V
65
66 V 66 V Deo TO
DeeTU
07
08
97
02 V
91
03
92V
....
••
•
•
Nor (Bus Dee
86*4
*9
102
70V 83V
93
07 V
90
•7
88
97
T|
SB
••
v6V JTJ 10
77 V 21
77*9
St " IS
88
•
70v
83 V
07
-
-
/Flak
j
1630
New York Bond
Record—Concluded—Page 4
Jhriee
Pririav
Dee 16
Range
BOND.*
Since
N. Y. STOCK EXCHANGE
Wm Ending dec 16
5|
RR lat re*4®
i955
Southern—1st eon g 6s.... 1994
Registered.......
1994
Develop A gen 4s Ser A. 1956
Mob A Ohio ooll tr
g 4s.a933
Mem Diy 1st g 4*-5s... 1996
St Jxjuisdiy 1st g 4s....1951
AJa Cen B 1st g 6s...... 1918
AM A Danv 1st
g 4s
1948
j-j
J-J
J-J
A-O
HON IKS
K. T. STOCK EXCHANGE
Wkkk Ending Deo 16
Penney lyauia Co—(Con;
»
r-
l
‘
Sid
16-25 year g 4s....1931
Cl A Mar let gu g 4*s..1»35
CIA P gen gu g4 *sser A.’42
Seriee »
1042
S©ric8C3*s
1948
Seriee 1> 3 *a
1950
Erie A Pitts gu g 3 *s B.1940
Seriee C......
1940
[
Sd7e
1
Pitts YA
t
Series C guar
1942
Series D 4s guar
1946
104
104
100* Dec’10
08* Deo’10
91* Deo’10
92
U
Oil A W H 6s
107*
93 *
101
102
<?iill55plir5SylstBO'yfsf4sTJi7 J-j
86
_
97
69
100*191*
1921
P M g 6s
1920
IstCOnsoL gold 5s..„..1939 M-N
Pt Huron Div 1st g Be.1939 A-O
SagTus A H latgu g 48.1031
fhilB A W Sff Penn RR
106*106*
97* 98*
90* 94
i‘12* ’’iTa*
111*
Lflilit A
,
......
98*
90*
Caries E 3* guar g....1949
Series F 4s guar
1953
C St L A P 1st oon g 5e.l932
Pensacola A AU See L A Nash
,
104*Dec’ioL...li04*i06
US'::::::
•
2tt gold 4*s
61921
Pere Marquette—Ref 4s.. 1955
92*
104 * Nov’10’ ..I 104*105*
107
Oct’08 L.
vyRum
109
May’10].. 109 109
106* 108 107
107
107
107*
107 S*. 107
Oct’10
103 * 107*
1
eo
.
....
-
feo AA Pek
EastUnSee1stCOO&StL
g 6s....1921
High
94 * 99
2
.
....
M912
t
....
....
January
110*4 Jan ’09
109*4 J’ly’09 “.
00*
96
Aug’09
91 *
90
May’08;....
90
93
92*Nov’10 ....* i»i
90
93
98*4 Ape’04'.. 1
1U0
106 >« 104* Oet ’09 f
Ash 1st con 68.1927
P OC A St Lgu4*s A...1940
Senes B guar
1942
i
106
106
98*;
Jan *05
110
....
‘a*
108*4
iYi'* i‘12*
Feb *10
112
96
67
101
112
00* 06
112
Oct ’10
69*
15
Dec’10
102
67
100
70
102*
108*112*
108* Sep’10
101
Aug’10
103
Sale
101
101
102
101
106
.
Pitta Cin A bt L See Penn Co
(Pitts Cleve A Tol See B A O
Pitts Ft W A Ch See Penn Co
Pitts MoKees A Y See N Y Cen
Pitta Sh A L E 1st g 5s...1940
1st consol gold 6s
1943
Pitta A West SeeBAO
if)ending Co gen g 4s
]
89* J’ly *10
112*
Sale
98
]
Jersey Cent coll g 4s...l961
112
J’ly ’97
981* 152
98
98
98*
07*
97*
88
112*Nov’10
93
AV Registered.
i
89
Noy’10
Deo’10
97
97
95
95
Rensseiaer A Sar Bee D A H
Rich A Han See South By
Rioli A Meek See Southern
90
112*
160
08*
98*
1
Bio Gr West See Den A Bio Gr
Booh A Pitts See B B A P
Borne Wat A Og See FT Y Cent
Hntland See is Y Cent
Sag Tub A H See Pere Mara
t Jo A Gr U11st a 4s...1947 j.j
St L A Cairo See Mob A Ohio
St L A Iron Mount See M P
'fit hMBr See T BB A of St L
J
St Lotus A S F—Geng 68.1931
J
| GaneralgoldGs....,
1931
StL A BJf RK oons g 4s..*90 j.j
1j
Gen 16-20 yr 5s
192? M-N
Sonthw Dir 1st g 6s.. 1947 A-O
Refunding g 4s
1961 J-J
j K O Ft SAM oon g 6s..1928 M-N
K O JTt S A M By ref g 4s 1936 A-O
! K C A M R A B 1st gu 68.1929 A-O
Ot’rk A Ch C 1st gu 6s g.1913 A-O
SC Louis So See Illinois Cent
L B W 1st g 4* bd Ctfs.1989 M-N
] 2d g 4s ino bond otfs...pl989 J-J
§t
Consol gold 4s.
...1932
Gray’s PtTer 1st gug 6s 1947
/
>
ItPaul A Dul See Hor Paoitio
i P Minn A Man
See Gt Nor
>f A NorPac See Hor Pao
jtP A S’x City Bee OStP M AO
iAA ▲ Pass 1st gug 4s... 1948 J-J
K& NP 1st sink X g 6S.1919
J J
FA West SoeAUCoastL
VW * N K See Hor A W
Seaboard A L g4s stamped ’50 A-O
i Coll tar refund g 6s ......1911 M-N
88'a 87
87
87
87
04
118*120* 120
00* 90
82*|
81
76
Sale
96*
..
90*
81
78
-
81
77
29
23
88
70
12
72* 78*
101* Apr’07
93*
82
..ol949 F-A
Adjustment6s
:
Atl-Birm 30-yrlst g 4s.el933 M-8
i Oar cent 1st oon g 4a...1949 J-J
Ha Cen A Pen 1st a 68.1918
1st land gr ext g 6s...1930
Consol gold 6s
1943
Ga A Ala By 1st oon 5s ol946
Ga Car A No lstgug6s 1929
i
Scab A Boa 1st 6s...,...1926
L
Bher Shi A So
J-J
J
J
J
J
86 *
99*
104
86* 13
Oot ’09
83* 88*
;
;
f
:
I
1
'
104
Sale
84*
100
76
84*
11
86*
81* 86*
3 08
100
100*
77* 226 68* 78*
6, 80
87
81*
Oct *10
92
103
Apr’10
104
104
91
103
82
103
IOO* 104
104*106* 106* X06*
104
103*
J’ly ’10
106 Apr'io
104*
90*
90
So Pao Coast 1st gu
Oot '10
96*
97* 166
96* 21
96*
Feb’lO
97
90*
Sale
22
92*
92
91
*6
90*
90
90
3
107* Noy’10
104* Sep ’09
103*105* 106 * Msy’oy
104*106 103* Aug’10
108*110 109* Noy’10
108*110
lU9*Nor’09
94
96
93* Noy’10
115*118 il9*Mar’lu
102
...... 107* Jan 09
114*116* 115*Noy’io
^ 110* Oot’10
110*..
105* 107
80 Pao of Cal—6s E A F.1912
1st gold 6s...
1912
1st con guar g 5s
1937
fiPacofN Mexist g6s..l911
i
91
101*
101*
97* Sale
96* Sale
Houa E A W T 1st g 58.1933
1st guar 6s red
1933
B A TC 1st g 6s int gu..l937
Consol g 6s int guar...1912
Gen gold 4s int guar..1921
J
WacoAN Wdivlstg6s’30
A A N W 1st gu g 6S....1941
Morgan’s La A T 1st 7s.l918
1st gold 6s
1920,
No of Cal guar g&a
1938
Ore A Cal 1st guar g 58.1927
}
76* Sals
84* Sale
92
h
I
86*
92* Sale
ila A
V SAM
G A N AP
1st gu
fH.
1st5s..
1931
g 5s. 1924
p
86
100
104
104
106
105*
104*
89
86
95
91
106
See MEAT
BilSp Oca AG See Atl Coast L
Southern Pacific CoGold 4s (Cent Pao ooll).kl940
Registered
kl949
20-year cony 4s
#1929
\ Cent Pao 1st ref gu g 4s 1949
i
Registered
1949
f : Mort guar gold 3*s..£1029
!
Through St L 1st ga 4s *64
100
...
102
...
102
...
107*
100
84
112
100
102
114*
116
4s g. 1937
87* 90*
90
94
109*110*
02*“ ‘*98*
119* 118*
115*
110*110*
115
Feb’07
J’ne’10
Nov’10
Dec ’04
100
<102
.84
Sale
Gen
gold 4a
1043 A-O
SupA DuldivA term 1st 4s’36
Not
A-O
J-J
F-A
M-S
J-J
Sign No Low High
94* 283 93* 06*
108
17
MayJ09
74
103*111*
"73" ‘*81*
Dec’10
Sep’10
85V
84
83
108
85
107
88*
91
i0d7' Noy’10
! 84
107*107*
{ 89* 93*
j 82* 82*
82* Oct ’10
ibe" """
107*108
106* Nov’10
110
Keb’lO
110
110* 110*Deo’io
104* 106* 104* Nov’10
67
65
Nov’09
113
112* Nov” 0
116 118
116
Nov’10
105*
105* Nov’10
82
Kov’OS
104* 107
106* Uct ’10
105* Nov’10
105*
75
103
112
103*
105*
106
....
....
....
107
106*
86
..
104
.,
...
104*106
...
Ill* 113*
..
114
..
116
106* 105*
..
"
105*
106
..
io5*
107*
Oot ’08
Nov’10
102
104
Oct ’06
108* Dec’06
107* Deo’09
105* Nov 10
105* Nov 10
01
.
Feb’10
70
103
91
.1
91
105*106*
.
it
101* 102* L06* Sep *06
105*
104* Oot ’10
100 Aug’10
107*
03 Sale
98
03
108 108* 109 Nov’io
110* Sale 109*
106* 107*
105* 105 s
.
106*May’lo
98*
106* 106*
106
110
109
114*
...
....
....
104*
90*
106. 110
80* 87
Not’IC
ll
104* 107 *
...
109
8! 06
115*
98*
109
109*
...
...
II
110*
Mar’io
23
108*112*
...! 70
70
Sep ’09
106* Nov’04
107* 108* 107* Dec’10
....
109*
112
t»ep*U0
101* 101* Dec’10
89* 01* 94* Mar’io
91*
02
92
89*
87
Aug’10
767, 76*
76*
82* Sale
82*
82*
89
86*
J’ne’10
106 105* 106
105
83* 86
86 Oct ’00
101 Sale 100* 101
100
100 Nov’10
103* Sals 103* 103*
97
ean»
06*
97
96 Sals
06
96*
116 Sale 114*
116
111
112
112*. 119
03 bale
98*
03
94 Jan *09
106
112*
09
104*
90*
94*
02
93 *
90
81
87
70
......
80*
87*
1100
86*
91
106
53! 09*102
! 98*101*
...
103 101
116*
03*
08*
12 113* 117
2S. 95
63 04
26
40
108*113*
01
94*
06
06
J’ly’10 ..J 106
...<l 94
11*10/
100
93
08*
99
80 J’ly *10
86
108
j
107
98
00
sale
100
07*
85
Oct ’10
90
90
00
Mario
04* Sate
62*
64*
108* 105 J’ly’10
108
“75* "i";
83
...!>
10,
00
00
Dec’09
90
33
32
4
4
52*
54
88 *
89* Nov’10
86
86* 212, 82*
7l*FeD’10
71
73* Apr’10
68*
100*Noy’09
110 111
110
Nov’10
109*
87* 80* 88*
83*
86*
106* Nov’10
103* 103* Nov’io
102* 102 J’ne’lOi.i..1
86
82*
82*
a
07* 98* Oct’10
....
92*
93
27
93
93
10
90* Sale
90* 22
90*
104* stale 104* 104*330
99
100* 96 Aug’10
98* Sale I 98*
98* L01
97
Sale | 96*
97
62
....
100
11*
12*
90*
86*
73
74*
110*
02
Feb’07
34
Sale
90
83
88*
86* Sale
101*.
86
102
*72* "77"
>.....
100
100
83
06
08*
113*
103*
66* 77*
2971 106
107*
75* Nov’10
83
Sep ’10
47*
47*
48 Sale
47*
48* 243
6*
7*
6* Dec’io
7*
7*
7*
7* 30
02* 03
J-J
M-N
M-N
....
108*100* 108*
93
J-J
Apr’10
110* 106
94* 94
J-J
M-S
F-A
M-N
Nov’08
98
96
M-N
Telegraph and Telephone
Telep A Tel ooll tr 4s 1929 J-J
1936
Convertible 4s
Mich State Telep 1st 5s ..1924
N Y Telep 1st A gen s f 4*3.'39
1937
Pac Tel A Tel 1st os
West Union col tr cur 5a.l838
I'd and. real eat g 4*s...l850
Conv 4s, Series A.......1036
84
Sinoe
llO
82
1939
Inoome 6s
41943
West No Oar See South Ry
Wheel's A L E lat g 6s...1926
Wheel Diy lat gold 6a..l928
Extern A Imp gold 6a...1839
1948
RR lat oonaoi 4a
20-year equip a f 5s ...1922
Wilkes A East See Erie
Wil A Sioux F See StP M A M
Wia Ceut 50-yr 1st gen 4s 1949
76*
Range
January l
dm* :::::: 107* Dec’09
Va a SoathwH 1st ga 5a.2003 J-J
1st cons 60-year 5s...... 1958 A-O
M-N
2d gold da......*....1939 F-A
Debenture series B
1939 J-J
1st lien equip a fd g fra.. 1821 Aft-8
lat lien 50-yr g term 4S.1864 J-J
1st ref and ext g 4s ....1966 J.J
Det A Ch Ext 1st g 6s.. 1941 J-J
Dee Mom Diy lat g 4s..1939 J-J
Cm Dir lat g 3*a
..1941 A-O
Tol A Ch Div lat g 4s... 1041 M-S
Wab Pitts Term lat g 4s.l954 J-D
Trust Co certfa
2d gold 4a......
1064 J-D
Trust Co certfa....
Warren See Dei Lao A West
Wash Cent See SI or Pao
Wash O A W See Southern
Wash Term! latgu 3*a..l945 F-A
West Maryland lat g 4a...1962 A-O
Gem A conv g 4a ......l.1962 A-O
Trust Co certfa
W VaCent A P 1st g 6a 1811 J-J
WeatN YA Pa Iatg5a..l937 J-J
Wabash lat gold 5s
110
.
2
107
Utah Central See Rio Gr Wee
Utah A North See Un Paciho
Utica A Black R SeeJA YCeat
V andalia oonaoi g 4a ....1855 F-A
V era Crus APlsi gu 4*sl934 J-J
VerVailndAW See Mo P
102
101*102*
Nor’09
Low
83* 84*
M-S
J.J
J.J
-
Am
luo*lui
ASK
94
*76*’ Sale"
J-j
J.J
.?dA4sYad 1st
1948 J-J
Ati
g guar 48.1949 A-O
VoLAQnxmY 1st 6s
.1916
1916, J-J
E T VaA Ga Dir
g 684.1930 J-J
Oon 1st gold 5s
1966 M-N
E Ten rfeor hen
g os.....1938 M-S
Ga Midland lat Ss
1946 A-O
P»o By 1st g 6s
1922 J-J
Knox A Ohio 1st g 6a...1925 j.j
Mob A Bir prior lien
g 5s 1945 J-J
gold 4s
1945 J-J
Bmh A Dan oon g 6s....1915 J.J
Deb 5s stamped
.1927 A-O
Rich A Meek 1st g 4s .1848 M-N
So Car A Ga 1st g 6s ..1919 M-N
Virginia Mid ser C 6s...1916 M-S
Series D 4-6s
1921 M-S
Series E 6s
1926 M-S
General 5s*
1936 M-N
Guar stamped
1936 M-N
W O A W 1st cy gu 4s.. 1924 F-A
West N C 1st con g 6s..1914 j.j
SAN Ala See LAN
Internal 1st g 5s 1955 J-,
Spokane
r
I 'er A of St L 1st g 4 *s.. 1939 A-O
A 1st oon gold 6ft.
.*.1894-1944 F-A
Gen refund s 1 g ss
1953 j.j
St L M Bge Ter gu
g 5s. 1930 A-O
TexANO See So Pao Co
Ter A Pao 1st gold 5s
2000 J-D
2d gold Inc 5s
<72000 Mar
La Div B List g 5s
1931 J-J
W Min W A N W 1st gu 5s *30 F-A
Tol A O C 1st g 5s
1935 j.j
Western Diy 1st g 6s...1935 A-O
General gold 6s.
1935 J-D
Kan A M 1st gu g 4s....1990 A-O
Tol P A W 1st
gold 4S....1917 J.J
Tol St L A W pr Ueu g 3 *8.1925 J-J
60-year gold 4s
i960 A-O
Coll tr 4a g Ser A.......1917 F-A
Tor Ham A Buff 1st g 4s.A1946 J-D
I T later A Del 1st con.g 5s 1928 J-D
U
1st refund g 4s.......1952 A-O
Un Pao RB A 1 gr g 4s ...1947 J-J
Registered.
1947 J-J
20-yr conv 4s
1827 J-J
1st A ref 4s.
#2008|M-&
Ore By A Nav con g 4s.1946 J-D
Ore Short Line 1st g 6a.. 1922 F-A
lat oonaoi g 6 s....
1946 J-J
Guar refund 4a
1929 J-D
1U0
M.ay’07
93
'102
87
87
i*03* 105*
100*100* Oct’10
101
92* 106*
94* 98*
103* 109
| 90 J’ly’09
101* 101V101* llay’10
TexANOSabJDivlst g6s.l912
108
Virginia Mid See South Ry
86* Sale
Week? s
Range or
Laet Sale
93*
....
90
Price
Friday
Dee 16
Bid1
Apr’10
120
124
106** 107 * 107 Sep ’10
105
108*
1
89* Sale
89*
89*
89* 91*
86
86* 86
86* 24 84
90
99*
99
99* Oct ’10
100*
81
Sale
81
38 78* 85
116
2 1114
116
116
117*
3 76
76* 77* 76*
76*
Registered
82*
1929
10U
Utah A Nor gold 6a.. 1026
100* Dec *09
Uni
97* 98
*3
N
J
HR
A O Co BesPaRB
97*
97*
96* *88*
to
•
r
High A* Low
98*
....
100*4
.1912
t JM7e
or
Last Sale
ASA Low
98*
GrHA Iexlstgug4*sl941
Pitte Ft W A C let 7s...1912
1
t
Week?*
Range
[Vol. utxm
100*100
104*105*
103* 104
09
77
b7*
98* 08*
00
90
06
04
89* 93
98
106*
95
96*
95
97
93
100
2
94
bale | 94
102* 102* 102*
95
102*
4 100*
100* Sale
92* Sate
100*
02*
7
102
90
90
99*
100*
07*
102*
dUSCELLANEOUS HOND»—Concluded.
ilium Inducing & Industrial
9en Electric deb g 8*s..l042 F-A
10-yr g deb 5s
1917 J-D
Int Paper Co 1st con g 6s.l01s F-A
Consol conv s t g 5s
1935 J-J
Int St Pump 1st s f os....1929 M-S
Lackaw Steel 1st g os....1923 A-O
Nat Enam &
80
150
J-D
M-N
y Steel Spgs 1st s f os...1921 J-J
Repub IA S 1st A coltrbs. 1934 A-O
102
97
102
J-J
90
Llmon Bag A P 1st si 5s.. 1930
Stamped
’
S Death Co s f deb g6a.. 1913 a/i-N
S Realty AI conv deb g 5s ’24 J-J
SRecl A Ret 1st sfg 68^1031 J-J
S Rubber iO-yrcoli tr
6s,’18 J -D
6 Steel Corp— < cdup .dl963 M-N
8f 10-60 yr 5s. \ rog Mdl908 M-N
161
104* Sale
85* 86*
Stpg 1st 5s..1929
gY Air Brake 1st conv 6s ’28
80
148
104*
85*
81*
95*
104*
86*
02
96
95*
95
96
Sep ’10
103
103
102
97 * 97*
07*
104
102
Oct ’10
05
93
Nov’10
93
May’10
101*104* 104* Deo*10
89* Sale
87*
103
88
Sale
Sale
103*
103* Sale
87
88
102*
103*
103*
♦No price Friday; latest bid and asked this week.
80
151
*
82
8
80
08 130
152*
105
6 100
17
82* 80*
24
01* 96*
2
95* 100
04
97*
3 100
114*
1
96* 93*
104
102
•••
96*
06*
104* 105
sr*
....
91
88
103
62
12
80*
86
04*
00*
27 10J* 104*
103* 814 101* 105*
103* *9 LOi* 105*
/» Due Keb
dime Apr
e
Manufacturing & Industrial
VA-Car Chem 1st 15-yr 6s 1923 J-D
iVestiaglibUse E A Ms t os ’31 J.J
lHisceiianeous
Adams Ex ooi u; g 4s......104b
Armour A Co 1st real est 4 ns’3 9
Bush Terminal 1st 4s
1052
Consol 5s....
1955
Chic JcA -=t Yard coigoB.1915
DetM AMldgr incomes.. 1011
fnstitfor Irrig Wks .4.*s 1043
Int Meroau Marine 4*s..l922
int Navigation 1st s f 6s.1920
Ne\vp Ne Ship A D D 5s dl90O
N Y Dock 50-yr 1st g 4s..1951
Providence Sec deb 4s....1057
Provident Loan Soo4*s.l921
8, Yuba Wat Co cou g 6s..1923
Wash Water Pow 1st 5s.. 1939
Due May
g
Due
..
ne
A Due J’ly
00
02
M-S
J-D
A-O
91* Dec’10
91*
02*
89*
80*
98* 95* Oct ’lu
100
05* 105
May’10
35
40
35
Aug’10
05
06 *Nov’10
63
64
63*
64*
78* 79* 81* Nov’10
A-O
M-N
A-O
F-A
J.J
J-J
92
Sale
88*
J-J
J-J
J-J
F-A
M-N
M.-S
99*
01*
00
98
02
......
.
......
•
m m »
101* 103
» m
05
91
90
95
112
i03
k Due Aug oDua Oct
p
72
31
92* 100*
93*
86
90
41
8
90*
87*
95*
100
36
03*
94*
89*
08
100
40
96
56
76
08
Nov’10
00*
Sep ’10
J’ly *09
J’ly’04
Aug’10
00
04
00
101
103
11
71*
83
Deo’09
....
Due Nov sOution 8nln
CHICAGO STOCK EXCHANGE—Stock Record—Daily, Weekly and
STOCKS—HIGHEST AND LOWEST SALE PRICES
i
“STS
Monday
Dec. 12
Weak
Wedneedau
Thwrtdag
Friday
Dee. 14
Dec. 15
Dec. 16
Dec. 13
0906)
2*2
2*2
*1*2
*6
*90
23%
91*2
23*2
10
10
*0
•4
6*4
4*4
21*2
73*2
21*2
731*
20*2
21
68
22
60
*64
*18
*58
*66
*11*4
*50*2
*6
*90
91*f>
23*2
28*2
*9
*6
10
4*,
21%
73*2
20*2
4*8
21%
731?
67*2
*64
*18
*58
*66
12
54
*11*4
♦50*2
*6
90
*23
*9
♦6
*4
♦r-r — —
6*4
♦73
67*2
12
54
90
23*2
23*2
23*4
10
*9
*6
10
6*4
4%
4*8
75
20%
21
68
22
60
90
*6
90
6*4
4*4
21%
21%
*2
*1%
2*2
*1*2
68
22
60
87%
11*4
*50*2
54
*50*2
4%
6*8
75%
9%
75%
22
68
22
60
67*2
11%
22
*70
21
Last
Last
July’10
Dec’10
91
24%
2434
10
10
6%
4*8
9*8
76%
73*2
*58
*66
*11
11
Last Sale
54
73*2
*18
*9
Last
68
Last
Last
22
*64
*18
*58
67
*11
24%
22
73
21
Sale
Sale
Sale
68
Sale
Sale
22
*21
*64
21*4
24*8
Oct’ 10
,
Dec’10
4%
4%
»-•.
73
*70
■f-
-
—--
85
20
60
*66
15
813
-
pref
100
Northwestern Kiev
100
Do
Sep’10
67*2
Dec’10
Dec’10
A
Jan
30
8*4 Dec
Dec
30
78
Dec
15*8 Sep
47
Jan
17
Nov
2914 Apr
Feb
97
Miscellaneous
9*g
77*2
9
*77
*260
*
9
9
77*4
77*4
*260
128
131
9*4
9*8
76% 77*8 *75*4
260
260% ♦260
9*8
128"
77%
77%
111*4 ♦111
111*4
*140*2 141*2 *140*2 141*2
*111
42
40
67
50
41
40
67
*48
*1
*2
1*8
*122
*151
153*2
115
41%
40
66*2
3
41
123
*40*2
40%
40
*48
*1
*2
153
*115
94
66
*93
66
64
*...
64
97
*63*2
*-.
*109
*120
*
*118
1*8
3
153
115*2
63*2
*1111
21
111
122
123
119
*109
*120
105*4 105%
180
*120
103
*160
50
40*2 40*2
122*2 122*2
115
93*2
66*4
181
121
103*4
165
94
66*2
64
97
21
111
122
123
119
♦118
105*8 106%
180*4 181
120*2 120*2
102*2 103
*160
131
*__
120% 12078
101% 102%
120% 120% *118% 119%
102*2 102% 102*2 103
165
105
195
'
-
103
102*2 103
6*4
23*2
6*2
23*2 *23
10 Amer Shipbuilding
*
*160
165
635 American Can..
100
235
Dq
...100
pref
181 American Radiator
100
20
Do
pref
100
9%
M
*260
*260
261
281
*128
129
129
135
*76
78
78
77% *76
76*2 76*2
Last Sale 111% Dec,10
♦in
*111
142
142
♦111% 113 *111% 113
*140*2 141*2
41
41
41
41
40
40*4 40% *40
39
39
40*4
39*2
39*2
39*2 39*7 *39
*65
66*2
66% *65
68% *65
66*4 *65
Last Sale 47
50
*48
*48
50
Aug’10
1
Last
Nov’10
*1
*1
Sale
1*8
1*8
Last Sale 3
*2
Oct’lO
*2
3
3
40*2 42
41%
41%
40*2 40% *40% 41
122*2 122*2 122% 123
122% 122% *122 123
Last Sale 2%
Feb’08
*152
154
154
*150*2 153 ♦150*2 153 ♦152
115
115
*115
115
115%
115% 115%
115*2
Last Sale 1%
Feb’10
*15
16
16
15% 15*4 *15
Last Sale 79%
Apr’10
95
95
94
*93
94
95*8
66
64
66*2
65*8
65*2 67
Last Sale 45
Aug* 10
*63
*64
65
64%
64*2
64%
64*2 64*2
Dec’10
Last Sale 97
96%
96*4 *
Last Sale 2*8
June'07
*
Nov'09
Last Sale 20'
21
21
116%
110% 110*4 11078 110% 112 112% 113
*122
*122
124
124
*123
125
121*2 124
Last Sale 120
Dec’10
123
123
Last Sale 123
Dec’10
118
118
*_..
*..,
105
105% 105% 105
105*4 105*4 105 105
Last Sale 11-16 Mch’09
180 180% 178% 179
♦179*2 180*4 *180 181
131
*
*
9*8
103*, 103*8
103
*6*4
6%
23
23%
103
103
8%
6*2
24
22%
23
119*8
10034
”50
586 Booth
1,083
119*2
125
es
Fridas
Dec. 16
Lad Sals
Ohio Consol Tcao 4Hs 1929 J
Chic Auditorium Ist5sl929 F
Ohio Dock Oo lit 4S..1929 A
102
101*4
100
1102*« Sale
-
96*4
*
Do pref
1,377 Western Stone
87
X 97*4 Sale
Lake St El-^lst 5s... 1928
Income 5s,....... 1925
Metr W Side El—
1st 4s—
1938
Extension g 4S-...193*
Morris A Co. 4)1
1939
North West El 1st 43.1911
No W G-L A Coke Co 5s 24
....
80% Sale
'98*4 Sale’
101
J
A
199*4 1 OO"'
IIII IOY"
H-N
-
J
-
O
J
...
.
J95 ‘
Sale'
Feb
F
-
J J *tQ -
A
J
J
S
M
1945 d-N
Ogden Gas 5s...
Pearsons-Taft 5s
1916
4.40s ......
4.60s Series H
4.80s Series F._.......
Poo Gas L A 0 1st 6s.l942
Refunding g 5S—..1947
Chic Gas LAC 1st 5sl937
Coasum Gas 1st 5s. 1938
Mut'L Fuel Gas Ist58l947
South Side Eiev 4 Ha.1924
Swift A Co lstg 5s
1914
Union El (Loop) 5s..1945
Union PaoIflC oonv 48.1911
United Box Beard ool 6?'26
General mtge 6s
Western Stone Co 5s. 1909
Not* —^Accrued interest
Sale
-
A
J - L?
M tf- N
M- N
&:us
J
J
M
J
-
j
-
D
-
N
-
J
-
A
-
M
-
J
J
O
N
rrj
A
O
must
181*2
177
82
79
’95*4 Sale"
f~92% Sale"
98*2
95
96
97*2
....
....
HU io’i%
103*2
Sale
tin:
101*8
92% Sale
61
58*2
200
Apr 4
126
84% May 10
112 Jan 11
M‘h8 Mch 9
42
Dec 10
101
139
Deo
Feb
Jan
163
Mch io
Jau
Feb
Feb
1
12112 Jan 11
35
6H4
Jan
58
1
Apr
.0% Dec
Apr
1
20
127
Mch
Jan
42 'Deo
140^ Sep
117
107
Jan
Jan
152
6
.an
Mch 28
Jan
7
Oot 25
38
43
Jan
Jan
20
Nov
25*8* Aug
88*2 May
13034 Aug
88*2 Deo
47 Sep
102*4 Apr 20
115
125
Jan
7
Jan 18
97% Jan
II8I4 Feb
145
123
Oct 31
82
110
102
Nov 1
115*4 Jan 3
21
J&n
Jau
Jan
124
1
"2Wfteb‘i6
Jan
100*2 Jan
114*4 AUg
162
Deo
can
119
Jan
*"98*yjaa 'i05"‘Deo"
1*8 Mob
•s Feb
3*4 Mch
15
Low
Higk
99*4
90*4
9994
94*2
Qct’09
May*07
101*, 103*4
102*4
Apr’04
Apr*09
Jan’06
JNA
Feb
...
60
84*4
88
101%
87*2 95*8
96
Dec’10
29
Oot’10
100% Aug'09
Dec’08
95*4
Oct’10
95
77
16
95
Oct’lO
81*2
78
82
Nov’10
34
‘l2
Feb* 10
98*2 Mch’10
121*4 May’09
101*8
101%
103
101
1103*2
Deo’10
100*4
92*2
Oot’lO
“
100
88
114
70
61*4
86
in
Profile
■
1
■
In
f;
1906
.
1909;
Last Paid
Per¬
iod.
t
1551. 72. 17.
y
100*, 103*4
100*, 102%
100*4 100%
100
100*2
94*4
94*4
95*4
75
85
80
76
88
84
80
95
93%
93*4
96*4
99
fi
92*2
96*4
~96*2
96*2
97
97
98*2
98*2
100%
1(5*4
.104*2
100*4 102*2
100*4 101*2
91*4 »4
100
10078
103
02*2
Nov’10
Apr’lO
88
NoV’04
’76"
Apr’lO
Oct’lO
61*4
85*2 Juiy’08
be added to all Cnicasfo h ond
Sept. 2 1910.
■
%
e i
6
An Dee rD9,6
*46,478
10
J-J idtf '10,5
10
245,216
—'Q-J Jan ’ll, It*
9.794.964
12
12
Q-J Jan *11, A"
5.497,543
Jan *11, 1%
0
9
80,767
9H
10 j QQ Oct 10. Vt
402,510
600.000
Drovers* Dep. National.
6 : Q-J Oct
6
40,916
TO.Di
200,000
Englewood State..
12 i
12» r Q-M Sep 30*10,841
First National........ 10.000,000 10,903.894
10 i
10 ! Q-M Sop 30*10,2*1
193.486
First No* Englewood...
160,000
Prt? ate Ba ok
552.446
Foreman Bros B'k’g Co. LOGO,000
8 1 Q-J Oat TO.*
8
417.062
Fort Dearborn National 1,500,000
8
8 >
<*J Jan 'll, 4
981,665
Hibernian B’k'g Ass'n.. 1,600.000
J-Ji July TO,«
10 !
10
162.240
Kaspar State Bank— * 200,000
258,839 Beg. b JS. Ma v'la V .90, p.1277
LaSalle St National
1.000,000
10
525,597 10+2
Q*M Sep SOTO 2*1
Live Stock Exeh’ge Nat 1,250.000
4
4
Q-F Nov TO* 1
66,795
Monroe National— s 300,00u
8
8
i
Q-J Jan Tl, 2
Nat Bank of Aepnbflo.. 2.000.000 1.255,625
2
6
405.878
Q-J Sep30 10. Hi
National City... ...
1.500,000
3 1 Q-J Jan Tl. 1%
81,807
National Produce..
250,000
70.952
North Avenue State...
2H
6H Q-J Jan Tl. 1%
200,000
6
6
Q-J Oct TO. 1%
North Side State Sav*gs
29.191
50,000
Q-J Jan Tl. 1%
22,228
North West State.....
200,000
**
109.876
Q-J Oct To; 2
300,000
People’s Stk Yds State.
tV
i
'
oPr&irie National......
250,000
6
8
Q-M (>Ct TO, 11*
86,406
500,000
Pralrlo State......
2
Jan '08,2
Non*
33,452
250,000
Railway Exchange—
194,367
m Q-J Oct TO, 1%
300,000
Security
.......
6
6
Q-J Oct TO, 2
South Chicago Savings.
200,000
89.00C
us Sep t.’09 V. 89, p. 817
200.000
10,439
South Side State..
12
Q-J Oct TO. 3
State Bank of Chicago..
1,500,000 1,782,614
7
8
Q-M 3ep30’10;2
200,198
Stock Yards Savings...
250,000
6
M-N Nov TO. 3
6
Union Bank of Chicago.
37,00t
200.000
lOO.OOu
7,877 See V. 9J. p. 159
Washington Park Nat’l
None Q-M bec31'08,l**
6
10.044
Wendell State—
60,000
7
7
Q-J Oct TO. 2
938,613
Central rru*t Co of Ill.. 2,000,000
6
TO. 11*
Q-J Oct
112,944
Itt
n500,000
Chicago Sav Bk A Tr
6
6
Q-J Dec31’10.2
Chicago Title A Trust.. 6.000.00U (1,543,802
A-O Oct 9, TO, 3
4
4
8,622
ClUaens Trust & Savings
50.00J
Q-J Jan Tl. 2%
8+2
459,360 8+2
600,000
Ook>nla< Trust & Savings
444.155
Cent A Comm Tr A Sav. 3,000,000
q7 Oot TO, 2
123.963 ”7 h
200,000
Drovers' i rust* Savings
Q-J Oct. TO, 11*
173.<28
1,500,000
Parweil Trust Oo_.
u
Q-M Sep30'10, 4
First Trust & Savings.
2,500,000 3,165,066
19,621 1ncorp orated 1908 V.87 n.1138
200,000
Guarantee Trust & Sav.
6
9H Q-J Jan Tl. 3
Harris Trust & Savings. 1,250,000 1,471,163
Nov 19*10, l
16+4
7
Illinois Trust & Savings 5,000,000 8,609,829 16 + 4
6
6%
QJ Oct TO. 1%
59,499
200, OOo
<ien wood Trust & Savers
5
Q-J Oct TO, 1%
41,792
4X
200.00o
Lake View Trust ASayrn
Oct
12
12
TO, 3
Merchants’ Loam&Tr Co 2,000,000 6,012,401
6
750.000
226,783
Q-J Sep 3010,1%
Metropolitan Truat&Sav
us.
Oot
29*1
0V91,p.1221
1/50,000 Beg. b
200.000
Michigan Ave T: Co...
8
8
Q-J Oct
TO. 2
l,500,OOw 2,382,905
Northern Trust Go.
6
6
J-j
July TO, 3
6.1,040
200,000
North-Western 'lrASav
Oct
8
8
233,906
TO.
2
500,000
Pullman Trust & Savgs.
9 V 89 p 141
200,000
21,53'J ties b us. J'lv
Sherid&n Tr & Sav Bank
260,075 Oomm eased bus. Sept 6 1910
1,000,000
^Standard Tr & Sav
JaJ
5
6
July TO. 3
39,003
200,000
Stockmen’s 1 rust 3s Sav
Sep30'10i2
48+2
Union Trust Co....... 1,200.009 1,161,140
Got
6
148,374
TO, 11*
vWest’nTmist <Ss Savings 1,250.000
Sen 80T072
110.060
200.000
West Side TrASavBanfe
*7 a 4 Oet T*2
6
200 <H)
5S.U2
WeodJetrn Tr * ‘Nt v R »a
*100,000
500,000
Chicago City
Ooatrt&i A Comm Nat 20.000,000
Oom Exchange National 3.000.000
Drexel State..........
200,000
Q&lumet National..
m —
'
•
w m-rm
—
mm
^
——mm
May’05
90*4 Dec’10
96
9p*4
99
Apr* 10
9?*2
92*4
100*8 Mch’09
90*2 Mch* 10
97
75
90*2 01
97*4 lOU,
97*4 98
100*8 100*4
lbo’ 102%
1006, Dec’10
80
and
..
80*4
807) 109
90*2 Mch’K
98*4
98%
97*4 Sep’10
100*8 Apr-08
66*2 Aug’08
66*2 July’08
101
1007,
1007, NovTQ
Dividend Record
Surplus
mm
Feb’06
Deo’10
977k
97*4
87*4 Nov’10
100*4
Outstand¬
ing
Stock
88
70
65
“u b
7
.
.14
1
-
prices.
—
ts
-im
In «d<0aonJAo
p.
Mch
169*2 Deo
12154 Oot
55
101
122
Nov
H97g AUg
*2 Feb
186*4 Nov 12
J’ne
119*4 Sep
130
Sep
108*2 Deo
fewtttutlMOj
Q-J.
of 1% 6SOM
land asked prloea no sates were made on this day.
t Nov. 10 (close of business) for national banks and Noy. 11 (ojeeatag of ourio«es)_ Ipr SSaoe
I No price Friday; latest price thl# week,
a Due Dee. 81.
6 Due June. * Also 20% In stock, n Capitol and suroiae to bo limnM, fAJvkhp#
with extra payments Q-F.
s in addition the equivalent of 4% more came from First Trust A Saving) Bank.
* July 31 ltti). u
aqolyMaitt
bom First Trust A Savings Bank.
v Prairie Nat. Bank and Western Trust A Say. Bank merged and capital of latter increased from $1,000,000; V. vl. p. 314,
fY, 9L
Oot
121*2 J’ly
17% Feb
70U Mch
117
Jan
8
Feb 28
82
127
91
46
66
Apr
2*2 Nov
Jan 13
22*4 Jan
J’ne 22
..100
Mav
Oct
J’ne
*r,
2*8 Apr
3
100 “I6*j‘ne30
6
Aug
10
Sep
Nuv
Dec
Dec
112
145
Feb
20
48
Sep 23
2
225*4 Oct
132
J’ly
81% Dec
Jan
Jan
54*8 Apr
9
4
7
4
40
/4
56
1
3
47
137
101 J’ly 16
5*4 Apr 28
i*
—
J‘oe’09
87
84
102
M-
5:
Deo
135
100*4 Deo 16
155
J’ly 27
Year 1919
94*2 Deo’09
-
J’ne c
Aug u
Feb 4
261
Mch 8
109*8 Jan 8
186 Feb 19
9
May .6
106 Jan 6
15*8 Jan 3
NAME
Amis
-
i:
—
102*8
103
60
Ohio Jo A A 1st M g 6S.1945 M*
Ohio No Snore Elec ds.1912 A Chic Pne Tool 1st 5s.al921
Chic Ay 58
1927
Chic Ryk 4-5s series “A” A Chic ttys 4-5s series “B' J *
Chic Ays 4-5s series “O' P Ohio Ays coll 6s
1913 F *
Chic Ays Fund 6S..1913 F Chic Ays Tom Ctfa 1st 5s
Chic A I A P RR 4s..2002 If:
Collat trust g 5a—1913 M*
Chic Telephono 5s—1923 J -
Commonw*Edison 5s.1943
Chic Edison deb 6S-1913
1st g 5s-...July 1926
Debenture 5s....1920
Commonw Elect &S51943
Illinois Tunnel 5s....1928
Kan City Ay A Light
Co 5s
—1913
Kniok’b'ker Ice 1st 5s 1928
B’dt
Said
Higk No.
99*4 Mch’10
917s Nov*10
-
i:
Chicago dty Ay 6s.—1927
Ohio Consol Br fA Afit 6s... F:
56
J’ne 6
Aug 22
86
71*4 J&n
Chicago Banks and Trust Companies
Aik Low
O
-
Aug 6
131*4 J’ly 30
31
29
Voting Trust ctf
Do pref
533 Swift & Co
....100
70 The Quaker Oats Co..100
Do rights
pref.-...—.100
146
Do
725 (Jnlt Bex Bd A P Oo.lOO
101
*102*2 103 *102*2 103
6%
0%
0%
6%
Last Sale 7%
Apr* 09
241,
25%
24*2 26%
Period
Bid
Fisheries com
72
107
7
Dec
Deo
15*4 NOV
fJ’no
7% Jan
,
4
5
...
165
165
*160
165
June’10
Last Sale 63.
Wee*4
Range or
Amer Strawb’d 1st 6s.1911
Armour A Co 4 U».__1939
Aurora El gin* Chic 5.1941
Cal A So Ohio Ay Co
1st M ss
......1927 F
Cass Av4FG (StU 8s 1*
Ohio Board of Trade 4sl927
Feb
1,-6 J’ly 19
Jan
May
May
May
V
Price
Mer¬
Apr 26
13% Jan lo
Cal & Chic Canal A JD.100
47
1
Chic Drew’g A Malt’g—
3
Do pref
Sep 23
690 Chic Pneumatic Tool-100
25>2 J’ly 26
Mavl7
131 Chicago Telephone...100 110
Do
rights....
Chtc
142
Title
&
Trust...
100
Aug
26
”25
204 Commonw th- Edison.100
108*2 J’ly 27
Do
rights
1% Jan 26
"'25 Corn Proa Aef Co com
13*2 J’ly 9
Do
ao
,9*4 Apr /
prel_...
100
‘387 Diamond Match
82*2 Sep 30
Brick
Illinois
...100
53
J’ly 26
1,076
Masooio Temple.
43*2 Men 9
‘I26 McCrum-Howell Co_„100 40 Men 17
J’oe28
93
Do
pref
.....
Mllw A Ohio Brewing
Do pref..
100 101
Aug 3
740 National Biscuit
Do
149
pref
100 118 J’ly 19
..100 104 Fen 24
National Carbon
Do
pref.........100 112 Feb 10
J'ly 26
243 People’s Gas LACoke.100 103
Do
rights
Feb
990 Sears*Roebuck com..100 143
157
Do
pref.........100 116*t Aug 8
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Dec. 16
82
240
100
100
Do
pret
Amer Telep A Teicg
63* J'neso
62i2 J’ly 26
Dec
59
25
73
61
541
108
Jan
Jan
63
60
Jan
13*2 Jan
29*4 Jan
52 J’ly
86*2 May
19*2 Dec
Deo
8
77* t Mch so
25
J’ne.i
72
J’ne 22
23 J ne24
66
J‘ne2i
72*2 J ne22
543s Jan 3
104 Jan
6
J’ly _6
119% jtt
45*4
10% Dec
5
.'an
4
15
Deo
39
Fob
Jaa
Jaa
190
Oet
97*8 Doc
3
6*4 Aug 16
39
Meh
.v-V
Higheat
Dt Oct
Jan 3
Jan 10
9% Jan
6
1
Apr 1
M&y3l
55% J’ly 5
7
J'ly 28
40
180
109
36
16
15
63
Do
..•—.-100
prof
100
60 South Side Elevated
Streets W Stable C L.lOo
Do
pref
....100
Nov'10
11%
1*2 J'ly
J’ly
60*g Sep
11*4 Sep
4
prof
100
Metropol W S Elov—.lOO
Mch 7
Sig Jan 26
7*2 Jan J
185
160
Do
Dec’10
50
Oct 24
23
28
-A
13
8
M«720
3
May24
2*8 J n«29
20
Aug 8
Feb 17
69
Jan 14
16
Feb 7
51
Chicago City Hy.„„„.100
Chicago & Oak Park—100
Mo
pref
100
100 Ohio Ays part ctf “1"...
2,498 Chic Rys part ctf * 2"
50 Ohio Ays part ctf
Ohio Ays part ctf “4"
’295 Chicago Subway.
100
145 Kaos City Ay A Lt._loo
Lowest
Highest
Lowest
d*
Latt Sole 170
Last Sale 1*2
Latt Sale 6%
*87
91
♦87
Range for Previous YM
Range for Year 1910
STOCKS
CHICAGO STOCK
EXCHANGE
Salta
Of At
.
w Sea
BOSTON STOCK EXCHANGE—Stock Record,
Daily, Weekly and Yearly
•
->”
‘
-
SHARE PRICES- -NOT PER CENTUM
PRICES
Saturday
Monday
Dec. 10
•100U
•102
224
•127
•210
128
•
*16
*70
•....
*80
Dec. 12
101
'“ l
224
100*2 1001'
101*4 1C1*4
100
224
270
*123*4 130
87
•84*4
152
•180
♦86*4
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♦17*4
85
152
141
225
127*2 128
225
225
127*2 12712
215
216
*123
216
*.—
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*--—
3912 *39
*39
84
152
♦139
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*128*4 130
*117
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88
225
22 6
128
215
127*2
216
— —
130
100*4
102*4
127*2 12778
39*2
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112*2 ♦—.
Last
112:2 *-... 112*2
130
*117
100*2
102*4
*
124*2 125 *123
298
298
Last Sale 15
Last Sale 70
Last Sale 10*4
39
30
*30
299
16
72
10
16
72
10
*
88
Du 16
225
*
122*2 123
298*4 298*4
♦15
*70
118
Friday
Dec 15
....
118
88
18*2
186
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186
35
107
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107
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32
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103
115
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....
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103
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46
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46
113
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141*4 141*4
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35
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7
7
22
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Last Sale
114
32*2
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12
32
88
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34
17*4
344
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♦7*2
354
17
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844
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Last Sale .03
194
34
194
34
45
46
184
34
104
18*4
294
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294
7*2
3*4
11
7
Last Sale
Last Sale
*37
*37
*125
120
*127
124 124 *12
71
714 714
187,
117,
114
14
434
54
Last Sale 14
43
431
43
4*4
354
464
24
124
464
24
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117
2
9
6
13
8
224
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104
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7
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129
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14
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57
4*2
354
464
24
124
464
24
4*2
36*4
474
2*4
124
467s
24
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94
117*2 1174
Last Sale
Aas’t paid.
8
*54
134
B
■‘44
85*s
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24
124
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24
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117
Telephone.. 10
..100
10 Reece Button-Hole.. 10
26 Swift A Co..
...100
1,171 rorrtngton
25
Do
323
pref
2b
433 United Fruit
100
1.293 Un Shoe Mach
16
Dee’10
48
57,
14
57
4*4
85*s
47
24
13
45*2
2*4
94
117
Dee’10
14
Ex-stewc Mlv.
Do
pref
...100
Mining
475 Adventure Con...... 26
716 Aigomah Mining ... ....25
240 Ailuuez
26
5.956
1.145
1,610
150
Amalgamated
Copper” 10U
Am Zinc Lead A Sm..
25
Commercial. 26
Arizona
Atlantic
400 Bonanza Dev Co
450
2,980
1.891
25
160
100
676
25
10
Uos&CorbCop&silMg
5
Butte-Balaklava Oop. 10
Butte Coalition..
15
Calumet A Arizona.. 10
Calumet A Heel a
25
Centennial
25
Cons Mercur Gold....
1
1
-opper Range Con Go 100
...
Daly-Weet
20
3,600 East Butte
Elm River
Oop Min.. 10
"670 Franklin
2,615 Giroux Consolidated.
215
891
920
50
875
974
1.936
500
222
12
25
5
Granby Consolidated.lOo
Greene C&nanea
Hancock Consolidated
Helvetia Copper
20
25
25
Indiana Mining
25
Island Creek Coal
1
Do
1
pref
Isle Royale Copper.. 25
Kerr Lake..
5
1,440 Keweenaw Copper
25
25
6,221 Lake Copper Co
115 La Salle Copper
25
745 Mass Consol
25
Mayflower
25
Mexico Cons M A S
10
320 Miami Copper
5
110 Michigan
25
...
...
...
...
41
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0
160
Deo
9
Ho
270
Jau
Apr
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22
J’l 7
Apr .»
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mhf
Aug 18
98*4 Aug
155*4 J’ly ^6
8**4 J'ly i6
103
Oct 15
Sep 20
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b3
09
J'ly
b
26
J’ly
27
98*4 Mch i
...
.....
....
3
3
111*, Oct
1*7‘4 J’ly
26
J’ly
t0*2 Dec
l
16
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25
25
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Apr a4
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Feb
May
ib
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Doc 14
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44i2Nov 1
liu
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11*4 Jan 15
10J
28
Jan 24
27
Jan 1c
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165*2 Jan 15
46*4 J’ly
.
2514 J’ly 0
.1*8 J'ly 26
111
J’ly 26
Feb
1.
Aug 15
4
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55*4 J’ly
19*2 J'ly
13
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12*4 May 4
6
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13*2 J’ly 16
04
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193*8 Jan
168
124
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1*4 Oct 27
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80*4 Dec 8
84*4 Nov 7
10
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28*2 J’ly 16
7*4 Nov 17
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7
45*4 J ly 20
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80
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102
rights!
Oct
94
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13
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31
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31
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114
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125
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7
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245
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69
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89
202*2 Men
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68
93
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126*4 Ja**
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9*4 Jan
Jan
100
20*2 Mav
24*4 Jan
126*2 Jan
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107
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6i, Jan
76
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75
168
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12*4 Jan 14
65
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8
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29
10
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14
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3
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36
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Aug
140
215
Sep
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176
Apr
107
08*8 Apr
Apr
112
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22*? Nov
Apr
136
131
Apr
146*8 Sep
49*8 Aug
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NOV
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19
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u
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216
68
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38
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88
102
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163*2 J an
91*8 NOV 16
luu
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Apr
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8*2 Jan 11
124
115
Apr
165
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Nov
Feb
ft
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28
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Feb 10
12/^8 Mch
685
06
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17
ft
31
1/
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4912 Oct 20
Sep .6
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24
Nov
Jan
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9712 Apr
.
95*2 Mch
109
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6*4 J’ly *3
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6
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20
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14
81
/
104*4 Mch 26
11*2 Jan /
107
153
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7
...........
610 Winona
80 Wolverine
.00
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79
195
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146
200
19J
26
*
1437, Nov 4
5
Utah-Apex Mining...
5
1.214 Utah Consolidated...
12*2 Deo 2
Utah
10
1.090
Copper Co
53V*4 J’ne30
135 Victoria
2
Deo 1
25
485
Men
26
7
Men ift
214
6
.25
86 guincy
25
1.866 Ray Consol Copper.. 10
Santa Fe Gold A Oop. 10
1.220 Shannon
10
South Utah M A S...
5
"760 superior......
25
245 Superior A Boston Min 10
3.876 SuperiordsPitto Copp. 10
15 Tamarack
25
786 Trinity..
25
7.205 U S Smelt Ref A Ida. 50
3.400
Do
pref......... 50
212
Jau
Feb
77*? Nov
14*2 Mch
65*4 Dot
128'2 Nov
75
Jan
Novl6
Mi*Q
Jan
301
22
Mav
Oct
11*4 Jan
58'? Jan
14v.*4 Aug 25
7
Oct
".
Jan
162
123
275
136
103
8*34 Novi/
162
13*4 Deo 8
ill
0
Oct 7
Oct 14
Oct i
•
I26i, Oct
106
J’na
230*4 Apr
135
Deo
235
Mch
153
Nov
461? Dt*C
143
115
267
105
Dec
4
011bway Mining—.. 26
...
133'2 Jan
1414 J’ly 26
75
149
139
210
10
Mch *6
123
00
210
ft5
43
Old Colony
25
150 Old Dominion Co.... 25
101 Osceola
25
430 Parrot Silver A Oop. 10
21
jan
203
154 Mohawk
25
2,677 .Nevada Consolidated.
5
375 New Arcadian Copper 26
2.139 Ml pissing Mines..
5
4.885 North Butte
15
925 North Lake
26
Dec’lO
Last Sale
6*4
13*4
VIergenthaler Lino...100
Pacific Coast Power..ioo
6*2
19*4 3.949
NevTO
194
34
464
184
34
107,
294
*64
104
1*4
14
57
63*8
26*4
14*2
.'9
16
104
225
,
Oct 3
Oct 13
Jan
124U Jan
22w*2 Dec
I32i? jan
295
Sep
11*4 Jau
60'2 Jan
Feb .4
Feb
Nov 3
Nov 18
Apr
lul2 Sep 30
Mch
124*4 Sep
100
"453 Pullman Co..
81"
40
Dec’lO
12
82
114
824
pref
Mexican
71?
40
7
224
Do
22/
152
3 0
lo*c
76
Highest
100*4 Ja**
V
Jan 10
Jan 6
Aug
Sep
.100
......
40
555
16
.08
94
6*4
pref
136*4
7
Nov21
260
Agrlcul Cbem..l00
56
Oorp.. 25
Do
525
pref
28*4
25
727g 17.432 U b Steel Corp
loo
Do
536
116*8
100
pref.....
69 West Telep A Tel eg.. 100
17*2
.05
67*2 68
67*2
674
Last Sale 34
Dec’lO
12
124 124
124
Last Sale .10
Dec’lO
6*4
Miscellaneous
7 N E Cotton Yarn....100
Do
59
pref
_joo
210 N E Telephone
....100
.55
124
64
194
60
50
2
Oct 4
J'ne ll>
Jly .1
98
o
104*4 Jan
234
35
189
.
98
*612
8*2
85«
*38
48
550
*16
193
56
!!!
100
•123's Jan
Aug 2
Jne 10
Aug
J'ly
Boston Land
10
412
Cumb Telep & Tel
138*2
eg 1100
556 East Boston Land..
7*8
142 Edison E ec Ilium.. 100 .239
690 General Electric.. .!l00 135
556 vtaasachusettsGasCbs 100
76*4
Do
89
648
...100
pref
15512
8812
28*2
193*,
!iou
26
Lowest
1U0
""70
94
*27*2
19412
194
56
80s
60
*541
16
*.05
67g
4012
714
2212
178
12*4
3212
886S
18i8
6*4
314
29
28*?
'Vest End st
Do
prof..
ioo
.
.
282
88*4
Pacific..._
1.024 Amer Pnou Service... 60
Do
439
pref
50
871 Amer Sugar lie fin
100
Do
88
pref
100
2.144 Amer Telep & Teieg_.100
10 American Woolen
too
656
Do
prel......
100
AtrGulf A W I s S L.100
77,
*7*g
Albany____loo
Elevated
lot
& Lowell
too
& Maine
100
& Provldenoe. 100
Suburban El Cos.
07'2
218
Zl22
20J
121
285
14
70
8
Range for PrexAous Yeas
(1909)
Highest
Ll*2 J’ly
100
pref...
Vermont A Mass.
765 Amer
Do
686
Nov*10
152
282
155
881?
94*2
*27*2
7*2
6*4
18*2
37g
127g
*.10
39
.75
.07
68
*312
12*4
6*4
7
7
1612
*.05
68
.15
10
4
46
19
7
I6I4
62
540
29
*
"315
....
7*2
14
*_
* .50
*13
18*8
4912
540
378
127g
•812
SO
7
18
13U
712
88*2
94*8
20'2
94
214
215
215
*21412 215
5
List Sale 5
Dee'10
112
112
*110
*110
110*2
108
107
107
*106
108
138
138*4 2138 138
138*2
Last Sale 93*4
Nov* 10
161
160
160*2 160
160
13
13
*12
•12
13
102*4 102*2 102*4 xlOl
Z01
36
36*8
36
36
36*4
*27*2 28
1945, 195
55*2 55*2
90
20*2
152
283
157
283
156
8**
87,
7
.50
1314
7*8
19",
•I8I4
312
10*4
14*4
*6
.50
36
28
197
55
29*4
717, 72*4
116*, 116*2
*16
17*2
*86
64*4
26*4
14*4
102*2
*29
40
63*2
26*2
160
*12
13
54*2
29*4
73*4
116*8
8
40
27
15
7
.80
14
8
8
.60
547,
*7
138*2
*94*4
160*«
28
195
19634
16
90
152*4 156
88*4 88*4
94*8 94*8
138*2
20*2
riMi'in
Lost Sale 6
284
214
*4
*109
*107
20*2
*1487, 152
75g
7*8
7*4
7*2
1025, 102*4
36
36*2
37
28
8*2
645s
197g
•45! 2
•
9
40
102*4
20*2
32
94
&
Electric Cos... 100
pref
100
102
100
51
38
426 Union
Do
5
34
41?
prer____
& Hartford! 100
Northern N H_._
100
Norwich & Wor pref!
100
Old Colony
100
Rutland pref
100
>eattle Electric
100
Do
pref
I..100
09
*31
7
153
284
94
215
5
112
108
160
*12
12
*86
7*2
*94*4
....
*86
*6
*147
153*4 154
88*4 88*4
*94*4
160*4 161
12
20*2
282
94
94
*
215
5
*4
100** *109
108*4 *107
138-*. 138
*4
21
7
152
7*2
282
153*8 153*4
88*4 88* 4
1024s 10278 102*2
35
36
35*2
28 •2712 28
196
1961t 197
5414 55
54*,
29
201s 29ls
727s 737g
72*2
*115*4 II6I4 116*,
•16
16
1712
18
*6
152
285
*109
108
138
162
13
*12
•
*20*2
7
281
215
*
2012
*150*4 15314
7*8
7*2
281
154
153
2d2
_
160
47*?
99
*113
32
93
Mass
Do
110
765
10312 105
—
Do
Boston
Boston
Boston
Boston
Boston
Boston
'114
18*2
Juno’in
T tvtl SrJe. in
20t2
•
39*2
188
190
*188
190
35
35
*35
37
108
*...
108
102
KM
102
102
170
170
169*4 169*4
*92
92*2 *91*2
92*2
Last Sale 157
Dec’lO
91
91
91
*90*2
*102*8
Railroads
Atch lop & Santa Pe. 10i»
pref
Boston & Wore Elec Ccs
Do
15
pref
1 Oblc June Ry & USY 100
Do
prel...
...100
"~2 Umnecticut River
100
109 Pitch bury,
pref
lOu
14 Ga Ry &
Electric....too
Do
45
pref
100
Maine Central.. .1.1100
_
11412 116
141*4 142*8
32
92*4
47*2
99
4*4
15
115
113
114
*31
----
....
08*4
4*4
14*4
47,
114
160
01
47
99*8
5*,
15
1512
15*4
115*8 *114*2 115*2
921,
102
168*2 168&8 *169*2 170
92* ?,
01*4 91*«
5
••••
*....
190
35
108
♦91*2
*157
103
*46
99
5
15
115
114
*107
102
188
*
Range Since Jan. 1
Loicest
Do
Dec’lO
....
190
35
108
102
*
1691, 170*8
♦9H2 92l2
92*
...
4614
*187
—
130
130
*128*4 130
*117
_rV *117
87
87"
*87
t8~
Last Sale 210
Dec’10
^
....
18"
18
^
*155*2
*210*2
*17*2
17o, 17** *17*2
84
84*4 84*4
8434 85
84*8 843s *84*4
15212 152*2 152*2 15212 153*2 *151
151*2 150
141
*139
141
*140
140*4 140 140
....
T-
Dec’lO
Dec'10
Oct’10
but Stile. 9in
•186
•6
f
w ^
STOCKS
BOSTON STOCK
EXCHANGE
190
32
207
308
2
50
15
•
Sale 114
270
♦116
18*4
Dec. 14
224
*
♦12834 130
117
864«
128
215
123
299
16
72
10
39
Thursday
100
101
♦1005s 101*8 101
102*, 102*? *101*2 102*2 *101*2 102*2
224
♦155*2
•-... 114
Wednesday
Dec. 13
224
128
127*4
215
*210
123
123
299
16
*15
72
*70
10
*-.—
39 t
39
•15712 160
117
Tuesday
Sates
of the
Week
Shares
Feb
Feb
J ne
68*2 Fab
7*2 May
7*2 Feb
Get
Feb
7*8 J'ue
90
Feu
0
Feb
1
13
8*4 S«P
6*2 Dec
J 'ne
S3 h Deo
07
Apr
22014 Deo
3*4 Oct
i2;>
118
Oct
Oot
Sep
139
108
Oct
100
Aug
Sep
114*2 Aug
12
34
35
170
71
Nov
Deo
Deo
131
1,
06
Oot
Deo
Deo
Oot
31*4 Sep
94<g Oot
10*2
Oot
62
96*2 NOV
40*? l>eo
51*4 Deo
18
50
24
Jan
May
Deo
11*4 Dee
33*>, Nov
Jan
119
695
Aug
44*2 Sep
35
Jan
86*4 Nov
12
Mch
16*8 Apr
2i2 jan
10
Aug
12*4 NOV
119*2 Deo
14*j NOV
38
Deo
7*2 Aug
44*4 Mch 0
33*4 Oct 29
00
Nov26
8*2 Jan
o
1
11
Jan 5
6*4 Jan 14
94>2Jan 22
19
Jan
14
loe, Oct 13
221, Apr
7*2 Apr
2i2 Mav
16
Jan
10*4 J Ty
4*4 Mch
i'8Jan 1ft
30
Apr
Jan
Jan
3»2
12*4
5*4
*67*2
16*2
3*2
Apr
Feb
6
20
.
7
4
8*2 Jan 21
76
.5
Jan 22
27*2 Jan 11
l(*8Jan 12
12
May^6
60
Jan
3
257, Mch 7
12*4 Jan
1*4 Feb
65
166
Mch
Jan
3*« Jan 19
68I4 Jan 14
18
Jan 13
16*8 Jan 10
78
Jan
Dec
4*2 Mch
5*4 Nov
85*4 Jan
47
40
24*4 Mch
2*4 Jan
18
30
122
10
83
Jan
6
11*8 Jan
13*4 Mch
79*, Jan
Nov
ft*8 Dee
Feb
Nov
07, Oct
J ne
47*4 Feb
Jan
21*4 Jan
92
Oct
J iy
35*4 Feb
9*8 Aug
c7*j Deo
74*4 Dee
191a Dee
18U May
1
Dee
6
Nov
28*, Dee
Feb
Dec
Dec
13
Sep
117, Aug
14*; D#0
90
60
170
Deo
Aug
Deo
36*4 J’no
99
Jan
Ut Nov
18*2 Feb
27, Jan
177, Jan
Jan
tf>, Nov
127, Apr
62
JTy
0*4 Dec
67
34
Dea
18*2 May
18*2 JTv
00
Feb
Jan
531, Jan
>9
44
Feb
17*, Jan
50
Sep
ftaa
64
5*4 Jan
4
Oot
6*4 Jan
49*4 Nov
66
NOV
55
46
Jan
CO*, Jan
5*4 Jan 14
15
Jan 14
_
68
Jan 3
3*4 Jan 14
17*4 Feb
S9*i Feb
8
Oot
4*4 Apr
189
V
Mch
Oak
Oot
6
l>eo
13*4 Deo
Ai
158
Deo. 17
Boston Bond Record
1910.]
|gS
i%i
14^’
BOSTON STOCK KXOH’QX
Week kvbiM Dio 16
Fries
WeetCs
Friday
Dee 16
Range or
Siyfi So Low ttxgti1
h um>i4 104% Illinois Steel deben 6s....1913
9«j4 84 89
93% la Fails AMioux Cist 7a.. 1917
Kan C Clin A Spr 1st 6s... 1926
104*4 103 99 led
97 >4 87% 'KanCFtSAGullext5s..l9U
I 87% Sep’10
108 Dec’" 0
106
108
97
119
KanC
t
Ft Scott A M 6a....l928
Kan C M A B gen 4a
89
90
Deo*to
1934
87
90
94
Assented moome 5s
1934
98
V81*
93% Sale
v8%
101%
Kan C A M By A Br 1st 6sl929
91
90%Nov‘lo
88*3 94
Maine Cent cons 1st 7s...1912
90*4
90%Deo’LU(. ■*f 90%
Cons 1st 4a
1912
102% riy'io1.
102*y 102S,
108 % Not* i 0 ...108% 117%' Maro Hougb A Ont ist 68.1926
Mass Gas 4 %s
73
1929
67 ** 'Sale
66*4
t>7% 19,i 63
.
J D
a-O,
Not
.
.
110
1924 M-S
19id J -J,
Coll trust refunding g «sl940
Ob Mil A St P duo D 6s.. 1920
Ob M A St P Wis V div dsl920
Obit* NoMionlsi gu 6s.i93i
Oble A W M ion gen 6s
1921
Oonoora A Mont cons 4s.. 1920
Conn A Pass K 1st * 4s... 19 3
100‘s Mar’09
.
Midi Teieplst 6s
Minne den Elec con
.
103
...|103
if
.
.
(
M-N1
113-3 May’10
87
87
%-Fi
87
X103
98%
LO 1*4
99%
99% 100
99
99
113% 114
88
ljj 85
....
t
Oct '07
J’ne’10
08% 1-8*3
Mar’10 ....! ioi % 101*4
Nov’10 ....'I 99% 100
AlaT10
—; yy 99%
....
Oct N>9
87% Sep 10
101%101%101%
40. %
! 9tf*,Nov'n*
......'H3% Deo 10
100% 102
A-O
M-N
M-S
M-S
A-O
A-O
J-J
ueu'05
99
101
91
Oct ’10
Deo’10
Dec’07
20 100
89
....
....
ib‘6%
99
100
99
88
Anr’10
Deo 10
98
96% J’ne’ i o
103 % Apt *06
I 96
Apt *08
127 *4 Dec'10
140
Apt ’06
96 % I 95%
95 %
96
!
.
.
Torrington 1st
89
90
99
88
96%
.
Terre naute saeo
104
112% Jan’03
100% Ang’U9
98%
127% 127%
....
....
32 94% 97%
96%Deo’10,.... j 94% 66%1
96%
96%
%-J
12u
83%
101%
9U*4
113% 116%
6t»%
....
A-O
auk Lout
100% Sale
A-O;
A-Oj
J-D!
90
I >6%
Oct 10.
1 »eC ’ * u
A-O
A-O
F-A
A-O
102
100
118
93%
92
103
97
97
100
.
.
.
102% Aiig'04
101% 100%
100%!
A-O
"of**
90
102
J’ne'0.3
99 %,
99%
97
Aag’lo'.
99% Sale
*ngh
101
92%
.
115
101
6 113
.
102% Nor’10
113'*b Nov’Od
101% Sep ’05
101% 103
Low
100%
Apr’08 44| 99%
93%Mai>101. ::: 1*93%
99% Feb’l0-. ...!' 99%
M-S
Feb’09
%sep’08
99%
.
4
100% 105
.
.
J-J
A-O
75
99
J -J
J-J
J J
Oct
10
..
4 131
132%
10*.
Apr’09
98% Sep’09
F-A
J-D
F-A
J•J
114
99
J-J
Deo’u!
J-J
J-J
J-J
102
F-A
M-N
103 % Nov’lu
97
Nov’10
97
Apr *07
Mai’02
7b% Apr U ....'! 78%
104
95
97
1918 M-S
10o% Sale
135
113% 116%,
98% 09
103% 103%
Mar’10
103% Sep MO
107*a -<>,’05
103
75
79%
96% 102
...
Dec’10
133% 134% 132%
os....1929! J -J
-
g os
*0
100
M-S;
A-O
JanuaryJ
±U gfi
117
116
93
M-Ni 116
Range
Since
3
Range
Deo 7o
ftiv
Union Pao bbAigrg4s.l947|J-J
20-year oonv 4s
1927! J-J
United Fruit gens 1 4%s.l923 J-J
U s Coal A Oil 1st a f 6s.. L938;M N
U S Steel Uorp 10-60 yr 5s. 1963 M-N
West End Street By 4s....1916 F-A
dold 4%s
19i4'M-8
Gold de Denture 4s
1916 M-N
Gold 4s
1917 F-A
Western Telepb A Tel 5s. 1932 J-J
Wisconsin Cent 1st gen 4al949 J-J
Note—Buyer pays aoorued interest In addition to tbo purchase prioe tor all Boston Bonds.
Week's
or
l*a*& sal*
me*
Friday
A-O
j J
1917 J- J
g 6s 1929 J-J
New Eng Cot Yarn 6s. ...1929
New Eng Telepb ds
1915
6s
1916
New England cons g 5s... 1945
boston Term 1st 4s
1939
N ew Biver (The) conv 5s. 1934
N Y N HAH con deo 3 %sl96b
Conv deb 6s (etts)
1943
Old Colony gold 4s
1924
Oreg By * Nav con p 4s.. 1946
Oreg Sn bine 1st e ds
1922
Pere Marquette deb g 6s.. 19 i 2
Bepuo Vaiiey 1st a t ds...1919
Butlaud 1st con gen 4 %s. 1941
Butland-Oanadian 1st 4s 1949
Savaunab Elec 1st cons as.1952
Seattle Elec 1st g 5s
1930
Bbannon-Ariz 1st g 6s.... 1919
-
112*3 Jan ’03
.103
heb’10
.'100 J’ne’ol
Oudaby PacK('i'he)lstg 6s 19.4 M-N
Qurreui Biver isi os
1920 A-O
Det dr Bap A W 1st 4s... 1946
Dominion Coal 1st s t 6e..l94o
Fitonburg 4s
1916
4s
1927
Promt Elk A Mo V 1st dm.. 1933
Unstamped 1st ds
1933
ftt Not C B A *4 ooU tr 4s 1921
1921
Registered 4s
.
.
A-O
j -D
A-O
A-O
M-N
F-A
M-N
M-S
J-J
J •J
A-O
J-J
J-J
M-N
J-D
J-D
AO
Feu’04
104 % OCl ’08
.
Butte A boston ist b»
1917
Butte Elec A Pow 1st g 6s. 1961
Cedar Bap A Mu b lei is.ldid
Cent Vermt 1st g4*..May 1920
OBAu Iowa Dit 1st 6s. 1919
Iowa Div 1st 4s
1919
Debenture 6s.
1913
Denver ex ten 4s
1922
Nebraska Eaten 4s
1927
B A S W s t 4s
19 21
Illinois Div 3 *as
1949
Ohiojc By a six las 6s .1916
f
.
Boston A Eoweh 4s
Boston a Maine 4 %*.
1944 J-J
Boston Terminal 1st 3 %s. 1947 F-A1
Bor A Mo Bit cons da
1918 J - J
..
-h
...
J'ly 1996 M-N<
1966 J-D
...1917 J-D
Lanes58.’69 e-J I
os.
January
102%
102%<tei*- ;10l%
9o», Sale I Ul>%
104% j.04% 104 0s
j - j
m-8
j . j
M-N
Stamped
60-year oonr 4a
10-year oonv 6a
Atl dull &W i8s
Boston Elect 1. ounsoi
Last sale
1
/(
BOSTON STOCK EXCH’GE
Week Endinu Deo 16
AS* Low
Biu
Km ieieu A lei oou u 4S.1929
Convertible is.
1936
Am Writ Taper let s i 5a * 1919
Am Zinc LA 8 deb 6a.... 191 j
Am Com Cop let conv 6s 192«
Aten Top A tare Ken g 4a.. 1996
Adjustment g 4s.... J’ly 1996
iUtS O."
If)
“8^^
1623
...
103
...j] »8
78%
104%
110
100% Max’10 I" ib*o% ioo%
3
i 00%
100%
99% 101%
104 > Oct ’10
iu4% 109%
97%
97% 10 95% 97%
ld6 Nov 10
146
166
8 101% 106%
103%
103%
97
98% J’ly** o_
98%
101% Jue’OBL
98% Apr’10.
98% 99%
98
Oct *10
97
99
97%
»7
94% 99
94% Jan *1
94% 94%
...
96**3
...
97% date
* No pnoe Friday; latest bid and asked.
7 Flat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
share Price*—Not For Centum Prices
Tuesday
De 18
Itonaav
Dee 19
Saturday
Dee 10
|
Sales
Wednesday
Thursday
Friday
Dee 14
Deo 16
Dee 16
.of the
Week
1
Shares
ACTIVE STOCKS
stocks
■
*19%
•39
*14%
*64%
66
90
99%
19*4
41
14*«
65
*64%
66
90
90
90
127
127
41
21
41
*
• 14%
65
66
90
90
121% 127% *126% 127% *126%.
21
*19
21
*19
*19
2t
r w t
42
*41
16
14%
14%
41
•14%
•40
41
16
• 14%
540 Com
*64% 66
*64%.
43
15
•20
20%
42
*15
16%
see
oelowj
Lowest
Range lor Previous
yearnuoyt
Highest
| Highest
Lowem
!
uauuiHire
Gas EL L. a Pow.100
Marl
Do
806
pret
8o Northern Central
126% 127%
*41
|
46 Mar21 64%Dee 8 30
48
10O 80
Maril 90 J’Brl4 76 Mad 89
60115
Jan 8 132
Feo28 100
Jan '121%
300 Seaboard (new)......... 100 18% J’ly 29 27% Jan 3
11% Feb 28%
Do
2a
40
Get
17
8
110
100
47
sau
prei.
22% Feb 48
100 United By A Electric.. 60 12% May 3 15% J’ly 16
u% Feb 14%
90
90
•
i
Jots 1
(For Bonds and Inactive
•
M
9U
Range Since
Dee
Maf
De#
uee
Dee
Dee
Philadelphia
024
•42
42%
011%
48
81%
20
26
42%
42%
42%
li%
*li %
U‘b
*11%
48
33
79
•48
4a %
*42 %
72
9%
26% 27
27%
*9l
93
89% 90
•4% 64%
44% 44%
16% 16%
• 18
18*4
737ie 74%
•8%
42%
8n
42%
64% 84%
43
8*% 26%
•3%
77
20
*42% 48
42% 42%
43
*ul%
89%
64%
44%
16%
1"%
73%
•o%
42%
84%
79%
9%
27%
Ii%
48% 48%
32% 33%
42% 42%
34%
79% 80%
83% 34%
79% 80%
33
•7'»% 79%
9%
26% 26%
*91%
8.»% 90%
t>4% 64%
*44% 46
16%:
15% 15%
18
18%
18%
74%
73% 73%
8%
b*i« 8*16
4s% 42%
4*%
86
84% 86
93
91
64%
4.%
Preleneu
iou
.....
......
%
iu
Cambria Iron
oO
Central coal A Coke.ioO
Consol Trao ol N J ...100
Easton Con aieotnc o.60
Ft Wayne AW V
100
Merman low u pass
60
Indiana polls St.......lot)
I’nditt.iitt Union Tr....i0U
Insurance Co oi N A.. 10
Inter Sin Pow A Chein.60
Fey stone Telephone ..60
Preferred
60
Keystone W atohCase. loo
Leh VaU Tran v to...60
Preferred v t o.......60
Lit Bruuiers
10
yltnAbnliiiflkili
nil
M(padill A scbuyl U..60
N Haven iron A steel. 6
Northern Central
60
North Pennsylvania..60
p«mnuyi UK receipts
Pennsylvania oan~ ....60
Pennsylvania ieei..loo
Preterred
loo
Pblia Co (Pitts) pret,..60
Pbil German A Norris.60
Pblia Traction
60
Nall ways General
10
Susqueu iron A Steel.. 6
Tidewater steel
..10
Preferred
io
luo
Union Tr ot ind
United N J BB a c.. loo
Unit Trao Pius pret..60
Warwick iron A steoi.loi
WeUbaobCo
loo
Wesi jeisey A EeaSb.60
WesUuureiaud Coax...50
Gas a Eiec..loo
-----
••MM
......
......
46
......
72*4
......
.Mses
.....
•••••a
......
*.—
20%
20
......
9%
9
mmwmam
• MS.4
•mmmmo
6%
6%
17
16
18
18
26% 26%
*27
27%
93
90
94
-a
64% tt^lS
44% 46
i6% lo%
18
18
73%
8%
74
8%
42%
85%
42%
86%
94
89% 90%
64*1# 64 *
45
48%
lo% 16-r
17%,
73% 74%
8%
42*
86%
83%
79%
9%
34
80
9%
26% 267e
93% 93%
b97# 90%
64%
47%
16*4
18%
74
1 American Cement
120
00
1,120 camuna Steei..........
60
do! Electric Co of America 10
Elec Storage Battery.. 100
Gen Asphalt tr otis
100
Do
prei tr ctfs.... 100
744
8.940
5,404
3l8
89u
40
6,49i
832
4,7 k
16*4
18%
74%
2,088
3,5o2
9,006
8%
43
2,03d
8%
8*i«
4^%
86%
8d% 8d%
Jhrxces are all1 'and
interest,”
Alt ALV Kleo . %s’33.F-A
Am das A Elec 6s'07. F-A
udo
Am
By* oonv 6* 1911.J-D
Atl
City
83%
1st 6s g ’19.M-N 1*0*3**
BergA EHrw 1st 6s’2i J -J
Bethie steel ds 199e.u-F
CbooJk Me 1st 6s 1949 J -J
Cb Ok A G gen 5s’19 J-J
Cel St By 1st oon 6s 1932
ConTraeoiNJ lstds.’33
E A A 1st M 6s 1920 M-N
Elec A Feo Tr atk tr cUs
Eq 11 Gae-L 1st g 6s 1928
Indianapolis By 4s.1933
Interstate 4s 1943 ..F-A
LebigbNav 4%s 'I4.(j-J
BBS 4s g
1914.%-F
Gen M 4%s g.l924.U-F
100
118%
105%
6*2** 68**
104%
110
Leb V C 1st 6s g *33..J-J
Leb V ext 4s 1st 1948^1 -D
Consol ds 1923
J-D
Consol 4%s 1923...J-D
J-D
Aunuity 6s
Gen cons 4s 2UU3.M-N
Leb V Tran con 4s’35J-D
lst86rieaB6s .935.M-S
110
109
N ew Con Gas 6s 1948 J -D
Newark Pass con 5s 1930
N Y Pll A No 1st4s ’39 J -J
41% 49
Income 4s 1939...M-N
NoOiuoTrao
oonds’19 J -J
82% 88%
Penn
Cons 6s L919.. Var
9%
Penn A Mil steei oon ds.
Pa A N Y Can 5s ’39. A-O
Con 4s 1939
A-O
Penn Steel 1st 5s’17 M-N
240
People’s Tr tr certs 4s '43
P Co lsuft ooi tr 6s’49 M-S
10
OonAoeitr6sl961M-N
lo%
40
Pbil Elec gold trust oils
48
Trust oerUfs 4s
62%
P A E gen M 6 g ’20.a-O
Gen M as g 1920.. AAO
88**
104%
148%
0<%
97%
lb’i**
_.....
-
r
....
106%
99
*107%
wT<J|a
-
t.....
,
••••••
••••••
......
X Ex-rights.
U $15 paid,
93%
7u%
77
1u7 %
1U0%
f $12% paid.
43
48
64
Jiy26
7
50
J’ly 6 13 >*an iul
superior Cory.... 100 ld%J’ne3U 28% Jan 3
Benigh C A Nav tr ctfs. 60 86 J ’ne3u i23 Jan 7i
60 62% J’ly St 121% Marls
DehigE Valley
60 Slhii J Ty 2o <S9*x«Mar 9
Pennsylvania BB
Plniadelp’aCo (Pitts o;. 60 42 J’ne3u 63% Jan 8
Philadelphia Ei6ctnc||. 26 113% (< eu 3 16% Mari8
Phils Bapid Transit... 60
16
Apr 28 2o%Jan 3
Feu la
50 65 % J ’iy 2t> 8d
Beading
Tone pah Mining ......
1
o% Jan 2
yiiaMayi3
50 38
Union Traction
Oct 24 52% jun 3
United Gas inipt
60 79 J’ly 2o 96% Jan 10|........
Spanisu-Am ir ds ’27 J-J
Stau’d Gas A E 6s *26 M-N
xrac Ljuu feeu
el os 1926
M-N
U Trao Pit gen 6s ’97 J-J
Weis uadi s 1 os 1930.J-D
Wlks-B GAE oob6s’55J-J
BA 1. l'i 51G tCB
Inactive dtociu
Ala Cons CoaiA lion.100
Pret
loo
Atlanta A Charlotte..loo
Atlan coast D tOonnjlOO
Canton Oo
100
Cons Cot Duck Oorp...60
Prei erred
50
Georgia sou A Fla...100
1st prei
....100
2d prei
loo
G-B-S Brewing
100
Bonds
Prices are all “ and
interest.”
Anaoostia A Pot 5s....
Atl Coast L^Ct)Ct£s5s J-D
CUs oi indent 4s.... J-J
6-20 yr 4s 1925......J-J
Balt CPass 1st 6s ’ll M-N
Balt Fundg 6s. 1916 M-N
J&xchange 3 %s 1930 J -J
LUi %
96% 96
101
19% J’ly 2d
Jan 3
26
Dec
Jan 6
44% J’ly
53% Jan ro 32% s eo
12% Jan 14 5io% Jan
64% Maril 43 Jan
34% Dec 15] 15% Jan
Jan
84% Jan 10 53
9% Jaii
Keystone Telephone...
os’io.J J
U n Bys Tr oils 4«’49J <fcj
United Bys Inv lstoolltr
106%
J’ne30
42
28
50
Daxe
Pb A Beau 2d 6s 33.A-O
J-D
Con M 78 1911
Ex Imp M 4s g ’47 .A-O
Terminal 5s g 1941.*4-F
P W A B ooi tr 4s ’21. J -J
Portland By 1st os 1930.
Boch By<& L oou os '54J -J
U
17 % Sep 19
41% J’ly 21
40% J’ly 2d
11* J’ly 29
....
PH1LADEI.PUIA
Bid I Ask
82%
60
Atuerioan Ban ways....
64%
49%
42%
PUH.ADK1.PU1A
127% 128%
*Bid and asked; no sales on this day.
49%
*24
26
•42
43
42% 42%
*11 % U%
49
49%
Bends
100
Bell Telephone (Pa). 100
Wilkes
49
9%
Auuctive >u»ck»
Amai Asbestos Corp.100
Ameinan Milunv;
Amur Pipe mim
42%
11% 11%
9
•91%
90
Ask
Bid
42%
9%
*9%
9%j
93
PUUADEDP1IIA
*42% 43
42% 42%
11% 11%
48% 49
Balt A P 1st ds m i’ll AO
BSPAO ist4%s ’63F-A
Balt Trao Ist6s..’29 M-N
No Balt Div 08 1942 J-D
Oent’l By oon6sl932 M-N
Ext A imp 68.1932 M 8
Cbas CityBy 1st 6s*23 J-J
1 $13% paid,
Bid
ioi"*
100%
Ask
j
ioi%*
......
117
99% 100
******
*98%
101% 102
100%
76"
••••••
......
39
......
49% Deo
12% J’ly
63% J’ly
33% Deo
84% Deo
15
Apr
14% Jan
33% May
96 Jan 125 % Deo
67
Feb 113
nep
63% Feb 76% sop
40% Feo 5i% Deo
11% Fob 14 % Deo
24 % J an
3d *9 Apr
69 % Feb 8d
Sep
6% j an 7b»ie Mar
60% Jan 68% May
,84% May 95% Deo
BA DTI DOME
Bid
Cbas tty G A Ei 5s ’99 M-S
Ask
94
94%
105
105%
Cliari C A A 2d 7 s' 10 A-O
City A sub 1st &S..’22 J -D
Oily A touoi Was)lslos’4S
Coal A 1 By ist os ‘20F-A
Ooi AGrnv lstds.l91dJ-J
Consol Gas ds.. 1939 J-D
Ctfs indebt 4%s
J-J
Cons G E A P 4 ks’35.j-J
FairA CiTr xSt5s’3S.A-C
Ga a Ala 1st con os
GaCarAN 1st os g
*oo
-J
’29 J-J
80% Georgia P 1st ds... ’22 J -J
80%
101%
Jam
Dee
GaSo A Fla 1st 6s 1946J -J
G-B-S Brew 3-4s 1951M-S
2d income 6s 1961 M-N
Knox V Trao 1st 5s ’28A-U
DakeB Ei 1st guos’42M-S
102% 103
101
lu6
108
95
102
10U%
109
98
84
83*4
9b %
»d%
1U4
105
112
107
104 %
106
114
108
4*2*4
43%
5
6
102% 106
109
liO
106
103
74
94
Macon By A L*tlst5s'53J
-J
Memplus ot 1st 6a’46 J-J
MetSti W'asn>lsl5s’25F A
225
115
6
19
......
94
Mt Ver cot Dues. 1st os.
N pt N AO P 1st oe’38 M-N
93
6% NorAPorTr ist6s’3dJ-D
20% Nor lout at 1st os ’44.. J-J
102
230
120
,
...«•
96
N orui cent 4 %s 1925 A-O
Series A 5s l92d....J-J
Series B os
—
100
103
99 %
104
98
100%
94
1
100
%l
Too'"
Funding 5al93d...J-D
93%
3d series ds 191d..M-S
4th ser 3-4-6S 1921.M-S
5th senes 5s l92d.M-s
Va (State) 3s new ’32.J-J
Fund debt 2-3s 1991.J J
West N C con ds 1914 J -J
Wes Va CAP lstdg’ll J-J
Wil A Weld 6s..1936.J-J
104% VaMid 2d
......
96
107% 107%
109% 110%
10/
101%
1926....J-J
Pitt Un Trao 6s 1997.J-J
Poto Vai 1st 5s 1941..J-J
Sav Fla A West os’34 A-O
Seab A Boau 5s 1926.J -J
South Bound 1st 6s..A-O
U El BAP lst4%8’29 M-N
U U By A El 1st 48 ’49 M-S
income 4s 1949
J -D
ioS"
ser ds ’ll.M-S
73%
82%
82%
lo4
110
110
102% 105
iod
110
111%
106
T9mm '*
107 %, 109
Ul*4 92%
84% 85
-
61%
84%
100%
61%
86
4
105
104
••••••
104
.......
68
88
104
89
89
106
100% 100%
110
U9
i $35 paid, a Beoeipts. & $25 paid, c $30 paid, d $42% paid.
•
1624
THE CHRONICLE
Volume of Business
TRANSACTIONS A1 1'rli,
V
at Stock
-Y.vv
UOUii EXCHANGE
AD YEARLY.
U.tA
DAILY, W
■
Stocks.
Week ending
Dee. 16 1910.
Saturday
Monday
Tuesday
Wednesday
Thursday.
Friday
„
Railroad.
<ke„
Shares.
258.595
448.164
351,259
257,959
225.745
505.622
r
Total
Electric Companies
Chicago Edison Co—See
Exclianges
State
Bonds.
Par value.
Bonds.
$22,709,500
38,798,900
31,037,150
22,712,900
19.069,500
21,044,600
$727,500
2,154,500
1,610,000
1,470,500
2,909,500
3,013,000
S18.000
148,500
91,000
49,500
79,000
128,000
Sll.894.000l
1,847,344! $ 161,372, ,50
V. S.
Bonis.
‘
______
...
Bid
Ch cago
Week ending Dec. 16.
Gold & Stock Teleg
100
Northwestern Teleg.
60
Pacific & Atlantic
25
c Pac Telep A Teleg
pref 100
Southern A Atlantic
25
Exchange.
1910.
Stocks—No. shares
Par value
Bank shares, par.....
Bonds.
Government bonds...
State bonds
RR and mlsc. bonds.
...
Jan. 1 to Dec. 16.
1910.
1909.
|
1909.
1.847,344
3.891.838
182.418.295
207,544.672
$161,372,350 $347,465,000 $14,192,542,125 $18,981,341,500
$18,400
$65,200
$1,100,600
$315,150
$22,500
443,000
24.290.500
$514,000
11.891,000
Total bonds
$24,756.0001
$12,405,000
$801,200
$359,700
40.896.050
568.052,700
36.510,400
1,233,028,100
$609,308,450
$1,270,339,700
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES.
Ferry Companies
_
84
120
B A N Y 1st 6a 1911
J-J
N Y A E R Ferry stk-—100
1st 68 1922
M-N
N Y A Hob 6s May '46.J-D
Hob Fy 1st 6s 1946..M-N
N Y A N J 6s 1946
J-J
10th A 23d Sts Ferry
100
1st mtge 5s 1919
J-D
e Union Ferry stock
100
e 1st 6s 1920—
M-N
50
118
60
93
90
99
100
90
20
55
97
28
65
97*2
^ w
40
Boston.
Week ending
Dec. 16 1910.
Listed
shares.
Saturday
Monday......
Tuesday
Wednesday
Thursday
Friday
Total
Philadelphia.
Unlisted
shares.
7,951
15,876
10,385
8.855
11,303
8,ii96
63,366
Bond
sales.
9.896
8,838
8,288
Listed * Unlisted
shares.
shares.
12,104
5,o81
$14,500
20,000
65.000
70,000
128.000
32,000
6,869
8.972
4.562
13.219
11,928
52,0 < 8:
$329,600 '
7,571
•
Bond
sales.
12,497
7,955
8,416
14,128
4,799
11.552
11,792
$62,200
29.700
71,000
57.700
132,600
91,600
58.047
58,642
$444,800
All bond prices
are
now
Street Railways
New York City
Bid
Bleeck St A Ful Fy stk. 100
1st mtge 4s 1950
J-J
B’y A 7th Avs stk
2d mtge 5s 1914
“and interest'
100
J-J
Con 53
1943—See Stock
B'way Surface 1st 5s gu 1924
Cent’i Crosstown stock.. 100
1st mtge 68.1922..__M-N
CenPk N A E Riv stock. 100
Chris toph’l A 10th St stk 100
Col A 9th Ave 5a—See Stock
Dry Dock E B A B—
1st gold
5s 1932
J-D
Scrip 5s 1914
F-A
Eighth Avenue stock...100
Scrip 6s 1914
F-A
Ask
8
16
58
120
98
Exc
102
65
—-
Consol 5s
1948...—..F-A
—-
60
list
list
list
180
16
««>••
56
Sixth Avenue stock
100 115
60
Sou Boulev 5s 1945
J-J
88
So Fer 1st 5s 1919.
A-O
Third Avenue RR—See Stk Exc
50
Tarry W P A M 5s 1928—
75
Y'kers St RR 5s 1946 A-O
28th A 29th Sts 5s *98—A*0 fnlO
Twenty-third St stock. .100 190
Union Ry 1st 5s 1942...F-A looi2
Westchester 1st 5s *43 J-J
65
59
130
85
92
list
80
85
20
215
102
75
.
10
102
102
170
list
102
100
97
165
Con 5s—See Stock Exch ange
Bklyn Hgts 1st 5s 1941 A-O
93
Bklyn Queens Co A Sub—
s 1st g 5s '41 op 1916 .J-J
e 1st con 5s ’41 op *16 M-N
Bklyn Rap Tran—See Stock
Coney Isl A Bklyn
100
1st cons g 4s 1948
J-J
Con g 4s 1955
J-J
Brk C A N 5s 1939...J-J
Kings Co El 4s—See Stock
Nassau Elec pref
100
5s 1944...
1st 4s 1951—See
A-O
Stock
99
98
Exc
60
78
75
95
Exc
....
____
N W'b’g A Flat 1st ex 4 Ms
103
Exc
87
Stelnway 1st 6s 1922...J-J
103
105
list
92
105
*
Other Cities
Buffalo Street Ry—
1st consol 5s 1931
F-A
105
Deb 6s 1917
A-O
103
Columbus (O) St Ry....l00
Preferred
100
Colum Ry con 5s—See Phi la list
Crosst’n 1st 5s 1933..J-D
99
s Conn Ry A Ltg com... 100
72
e Preferred
100
79
1st A ref 4Hs—See Stock Exc
Grand Rapids Ry pref.. 100
82
e Louisv St 5s 1930
J-J 10434
Lynn A Bos 1st 5s 1924.J-D 104
• New Orl Rys A Lgt.
26
lOO
e Preferred..
100
6534
Gen Mg4^s 1935—See S tk Ex
Pub Serv Corp of N J
100 112
Tr ctfs 2% to 6% perpet
99*2
North Jersey St Ry..i00
60
1st 4s 1948
M-N
74
k
Cons Tract of NJ_.._ 100
72
1st 5s 1933
J-D 103
_
—
*
1
'
*
*
Per share,
b Basis,
73
128
74
131
108
108
96
10J;
103
_
_
_
_
81
list
85
105
lOd
25*4
67
list
114
1001;
__
—
75
73
104
e Sells on
9818
99
looks 1005s
9834 99* 1
100
100*4
eNYC Lines Eq 5s *ll-'22
64.60
64.60
100
98*4
96*2
98*2
101*8 101*2
96
98
July 1930
/
Chicago Sttbway.......100
37g
Other Cities.
Am Gas A Elec com
50
Preferred
50
Amer Light A Tract— ..100
Preferred
100
Bay State Gas...
50
-
—
*4*2
Typef’dera com..
Preferred
98
101
97
100
42l2
104
Bingh’ton (N Y) Gas Wks
1st g 5s 1938........ A-0
05
Brooklyn Un Gas—See Stk Exc
Buffalo City Gas stock. 100
3
1st 5s 1947—See Stook Exc
Cities Service Co
100
62
_
Preferred
78
100
Con Gas of N J 5s 1936 .J-J
90
Consumers’ L H A Pow—
5s
1938.
J-D 100
Denver Gas A Elec
100 190
Gen g 5s 1949 op
90
M-N
Elizabeth Gas Lt Co.... 100 300
Essex A Hudson Gas
100 135
Gas A El Bergen Co
77
100
e Gr Rap 1st 6s 1915 ...F-A
95
Hudson Co Gas
100 132
Indiana Lighting Co.... 100
33
4s 1958 op.
64
F-A
11
Indianapolis Gas
50
1st g 5s 1952
A-0
80
Jackson Gas 5s g 1937.. A-O / 88
e Laclede Gas.
..100 104
e Preferred
100
85
Madison Gas 6s 1926...A-O
103
Newark Gas 6s 1944
126
Q-J
Newark Consol Gas
100
96
e Con g 5a 1948
J-D 103
No Hudson L H A Pow—
5s 1938
A-O
100
Pacldc Gas A E, com—.100
69*4
Preferred
100
87
Pat A Pas Gas A Elec..100
88
6 Con g 5s 1949
M-S 100
St Joseph Gas 5s 1937—J-J
89
2*2
29*4
Preferred.
*4
100
ilst
5
list
65
81
94
210
93
80
102
136
35
65
3*2
SO
89
88
Atl Gif A W I S3 Lines.
Preferred
20*2
21* *
66
67*2
23
95
Ik Ex list
126
127
127
123
250
25
120
123
105
107
....
Bethl’m Steel Corp—See
Bliss Company com
j
Preferred
*7*s
*191Z
2-34
Preferred
50
125
132
7*4
20
3*2
55
140
_
6
40
....
20
85
Preferred
92*2
105
38
/ 33
Chesebrough Mfg Co....
700
s92*r.
*213s
108
68
101
102
93
63
98
104
e
2d
.
_
_
„
2U2
62
105
100
06
Col tr 6s Oot 1956..
91
101
1
03*2
45
45
43
3
22
Debenture 4s 1951..
Stock Exchange, but not very active. / Fiat price,
n
NomioaL
/ 40
s
mH
Hackensack Water Co—
Ref g 4s '52 op 1912 ..J-J
Hall Signal Co com
100
Havana Tobacco Co.... 100
Preferred
100
1st g 6s June 1 1922 .J-D
190
.00
85
20
8
55
S6
35
6
12
59
103
35
105
40
4
Hecker-Jones-Jewell Milling
1st 6s 1922
M-S
Herring-Hall-Mar
100
Hoboken Land A Imp.. 100
1st 5s Nov 1930
new..
Houston Oil
Preferred
Hudson Realty
com... 100
Preferred
33*2 34
90
160
90
€2*;
3
47
50
107
110
130
180
110
,
.
35
45
230
135
35
85
*1
55
100
1031;
.100
50
♦9
50
♦21*4
100 1131
100
100 1190
92
248
275
145
45
“i*4
58
105
217g
II6I2
10612
197
National Surety
Nevada Co ns’d Copper. See Stk E x list
Nev-Utah Min A Sm
10
*h
e New Central Coal
30
60
..20
N Y Air Brake 6s—See Stock Exc
list
N Y Biscuit 6a 1911
M-S 100
e New York Dock
35*
100
* Preferred
100
80
65*
N Y Mtge A Security—.100
N Y Transportation
20
Nlles-Bem-Pond
200
*4
95
100
.6
com
Ntptatng Mines
Ohio Copper Co
e Ontario Silver
Otis Elevator com
Preferred
♦104*
*l*ie
10
1
48
100
100
...
100
Pittsburgh Brewing
.50
♦228g
50
Pittsburgh Coal—See Stock
Pope Mfg Co com
100
Preferred
Pratt A Whitney
Producers Oil
Exc
54
74
100
pref..MX)
10212
100 144
Realty Assoc (Bklyn)... 100
Royal B&k Powd com.. 100 180
Preferred
—100 104
Safety Car Heat A Lt— .100 zl26
Seneea
Mining
Singer Mfg Co
—
26
100
South Iron A 8 com.... 100
Preferred
100
Standard Cordage
100
1st M g 5s '31 red
A-O
Adjust M 5s Apr 1 1931Standard Coupler com.. 100
Preferred
100
Standard Milling Co.... 100
100
Preferred
1st 5s 1930
M-N
Standard Oil of N J
100
Swift A Co—See Boston Stk
1st 5s.
See Chicago Stk
Texas Company—See Stock
e Texas A Pacific Coal.. 100
Title Ins Co of N Y
100
Tonopah Min (Nevada)._.l
Trenton Potteries com. .100
Preferred new
100
Trow Directory
100
Underwood Typewriter. 100
Preferred
100
Union Typewriter com.. 100
1st preferred
100
2d preferred...
100
United Bk Note Corp
50
60
Preferred
United Cigar Mfrs
100
e Preferred
100
United Copper
330
6
10
'
r
16
3
205
5
98
107s
?
50
98
23
41
list
57
78
104
148
120
190
107
128
340
8
16
20**
4
40
100
16
50
83
610
Exc
Exc
Exc
95
135
*83io
*18*“
64
87
615
list
list
list
100
140
8BH
4
45
8
55
30
60
02*
10012 10U2
50
104
103
*49
*50
56
100
4*4
100
Preferred
100
10
U S Casualty
100 215
U S Envelope com
50
100
Preferred
100 110
U S Finishing
95
100
Preferred
100 106
1st g 5s 1919
100
J-J
Con g 5s 1929
95
J-J
U S Steel Corporation—
Col tr s f 5s 1951 opt *11
114
Col tr s f 5s '51 not opt.. 114
USTltGu A Indem
100
e Utah Copper Co—See Stk Exc
Westchester A Bronx Title
A Mtge Guar
..100 160
52
108
107
52
52
68
103
5
20
113
100
111
105
100
11434
11434
92l2
list
166
Westingn'se Air Brake.. 50 *1391- 141
4
—
9212
94
6
52
80
113
112
135
205
115
Vlijj
91
244
100
—
8
165
S
10U4 IOU2
Leh A Wllkes-B Coal—..50
e Lori Hard (P) pref
100
Madison Sq Garden
100
2d 6s 1919
M-N
Manhattan Transit
20
May Dept Stores
49
97
100
Intercontinental Rubber 100
Intemat’l Banking Co.. 100
International Nickel....100
Lawyers’ Mtge Co
8
73j
47
110
93
100
Ingersoll-Rand
e
103
100
100
.
....
_
69\
88I4
.
.
5*4
411
43
....
1*16
♦lj
....
...
409
40
200
5s
158
125
224
103
5
20
182
100
102 '
05
100
tk Ex list !
100*2 102
60
70
230
106*
51
190
117*2 122*2
100
127s
*C*4
Guggenheim Explor’n. 100
Preferred
Am St Found new—See
6a 1936—
ADeb 4s 1923—
F-
Amer
*49
*41
287
102
92*2
/ 8914 90*4
154
120
218
76
e
4*4
91*2
Preferred
Amer Hardware.
..
Preferred
Gold Hill Copper....
Greene-Cananea
e
Nat Bank of Cuba
50
5
—
Industrial and Mi seel
100
50
101
Preferred
General Chemical
Mortgage Bond Co
Kan A Col Pac 6s 1938.F-A
Nat Rya of Mexico—See S t Exc list
Northern Securities Stubs.. 105
115
Pitts Bess A L E
....50 *30
35 ;
Preferred
-50 ♦621* 72*2
e Railroad Securities
90
85
Seaboard Company—
76
80
t Exc list
Seaboard Air Line—
100 ’
Preferred
104
100
100
100
100
100
100
1
20
Preferred
—
102
100
J-D
Monongahela R Coal
Chic Peor A St L—
American Book
American Brass
108
list
e
Preferred
Income 6s,
12*4
751;
*1»1«
«4>16*2
149
146
81
83
83
85
51 ► 12
40
20 ;
10
15
55
62
04
100
101-i 103*2
,
997g 100*4
100*4 1005g
das Securities
'-‘--Hr
4.30
4.30
101
9734
5s Mch 1 1913
South Ry g 6s 1913...
Tidewater 6s, 1913, guar...
Wabash 4Ha 1913
“ ‘
*180
New York
Cent Un Gas fie 1927
J-J ioi
Con Gas (N Y)—See Stock Exo
s Mutual Gas......
.100 166*2
New Amsterdam Gas—
1st consol 5s 1949....J-J 101
N Y A E & Gas 1st 5s *44 J-J 101
Consol 5s 1945
97
J-J
N Y A Richmond Gas.. 100
35
Nor Un 1st 5s 1927....M-N
99
e Standard Gas com.... 100
55
e P eferre s
85
100
1st 5s 1930
M-N 102
99*2
98lg 98*2
f 85
United Rys of St L—
Own vot tr ctfs
9 '
100
8*4
e Preferred
100 1*8*4 381$
Gen 4s 1934—See Stock Exo
list iUnit Rys San Fran—See Stk Exo list
Wash Ry A El Co
33
.100
34
Preferred
86
.100
87
4s 1951...
88
J-D
8312
...
102
100
list
75
83
80
100
list *
9034
Railroad
metam m
,
Brooklyn.
Brooklyn City Stock
245
e Preferred
e Gold 4 Hs 1930
Electric Boat...
Preferred
Preferred
100
1st g 5s 1932
...A-0
International Salt
10C
1st g 5s 1951
A-O
International Silver.... 100
Preferred
100
1st 6s 1948
J-D
Internal Smelt A Refg—100
Internat Time Record.. 100
Preferred
100
Jones A Laughlin Steel Co
1st 8 f g 53 1939
M-N
e Lackawanna Steel....100
e 1st con 5s 1950
M-S
e Deb 5s 1915
M-S
Lana ton Monotype
100
97*: 07<g
100*8 100*2
5% notes Oct 19
108
235
100
—
4
Atlan Avenue RR—
Con 5s g 1931
A-O
B B A W E 5s 1933—A-O
Ask
Gu g 5s 1953—...M-S
97*4 98*4
No Hud Co Ry 6s 1914 J-J 101
5s 1928
J^J 102
Ext 5s 1924
95
M-N
Pat Ry con 6s 1931..J-D 114
24 6s opt 1914
99
101
A-O
So Side El (Chic)—See Ch tcago list
Syracuse R T 5a 1946 ..M-S 100 10212
Trent P A H 5s 1943...J-D
95
100
40
300
100
300
42d A Or St F'y stock-100
42d St M AStN Ave-.lOO
1st mtge 6s 1010
M-S
2d Income 6s 191S*—J-J
40
Inter-Met—See Stock Exah ange
Lex Av A Pav F 5a—See Stk Exc
Metropol St Ry—See Stk Exc
Ninth Avenue stook——100 155
10
Second Avenue stock—100
1st M 5s '09 ext T0-M-N
99
Bid
Corp N J (Con)—
New’k Pas Ry 5s *30..J-J
Rapid Tran St Ry__._ 100
1st 5s 1921
A-O
J C Hob A Paterson—
4s g 1941........M-N
So J Gas El A Trac
100
....
30
200
96
200
Street Railways
Pub Serv
140
100
list
105
90
85
80
15*
21
75
85
Exc list
95
"f.’
100
100
100*8
98*2
9012
97*4
98*2
00*4
N Y N H A H 5s 'U-'12
except where marked
Crucible ateel
e Preferred
DavD-Daly Copper Co...10
a Diamond Match Co... 100
duPont (E I) de Nem Po 100
e
9?7«
98*4
4HS Jan 1911-1925
Outside Securities
c
75
29
100
Short-Term Notes
Am Clg ser A 4s 1911..M-S
Ser B 4s Mch 15 ’12..M-S
Balt A Ohio 4J4« 1913.J-D
Bethleh Steel 6s 1914..M-N
Chic A Alton 5s 1913.-M-S
Cin Ham A D 4s 1913...J-J
C C C A St L 5s, June 1911
Hudson Companies—
6s Oct 15 1911
A-0
6s Feb 1 1913
_F-A
Interb R T g 6s 1911..M-N
Ask
e
no
105
96
30
65
26
96
Bid
Industrial and Miscel
■
.....
78
117
105
65
40
110
e
Sales at
New York Stock
LXXXXI.
Empire Steel
Telephone
and
Amer Teleg & Cable... 100
e Central A So Amer....100
Comrn’l Un Tel (N Y)___25
Empire A Bay State Tel. 100
e
e
$514,000
Ask
list
Gr't West Pow 6a 1946—J-J
871$ Sd :
e Kings Co El L A P
124
Co.100 122
Narragan (Prov) El Co...50 *z88*4 90
N Y A Q Ei L A Pow Co.100
50
40
Preferred
100
73
78
United Electric of N J... 100
75
1st g 4s 1940...
J-D
75*2 76 i
Western Power com....100
40
4034
Preferred
100
63*4 6334
Telegraph
__________
fVoL.
_
41
Sale price,
West El A Mfg 5s~Se* Stk
Exo
Worthlngt'n Pump pref. 100
104*2 106
t New stock,
x
Ex-dlv.
V
list
Ex-right*
THE CHRONICLE
Dec. 17 1910. J
investment and
KA1LROAD
1635
Railroad Intelligence.
gross
earnings.
Tho following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
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
can
period
The returns of the electric railways are brought together separately on a subsequent page«
July 1 to Latest Date.
Latest Gross Earnings.
Previous
Year.
Current
Year.
Week or
HOADS
Month.
Atch Topeka & S Fe
Atlanta Blrm A Ati
Atlantic Coast Line
0 Baltimore A Ohio
B A O Ch Ter HR
Bangor A Aroostook
B ellef onte Central
-
-
Boston & Maine
November328,512
November.
161,503
November.
140,911
October
10,861
October
9,931,805
wk
Dec
1st
64,786
October
2,557,255
October
8,168,817
136,345
.September
October
269,559
November.
8.566
October
4,085,314
October
4,456
1st wk Dec
182,134
_.
..
_.
..
Bridgeton A Saco R
Buff Roch A Pittsb.
Buffalo A Susq—
September
202,422
339,200
1,973,000
278,900
2,418.345
393,707
2,332
574.758
287.839
8,909,593
221,387
103,930
Previous
Year.
1,488,071
1,421,844
712,767
613,646
24,091
296,052
157,753
133,861
6,677
766,926
659,944
34,231
9,444,348 36,091,145 34,879,236
51,630 1,223,717 1,123,501
2,503,776 9,021,842 8,334,509
7,840,698 32,684,444 30,518,589
95,403
407,932
285,009
256,084
995,956
950,551
39,634
28,145
7,083
3,914,354 16,215,892 15,573,202
19,181
3,828
20,479
166,550 4,385,560 4,200,274
593.853
663,683
236,890
321.300 7,130,400 5,950,400
1,905,000 48,891,130 43,457,790
242.300 5,774,551 5,416,592
2,459,702 9,645,744 9,182,359
352,353 1,394,142 1,370,465
34,531
1,873
40,028
582,352 14,819,661 13,731,617
237,473 6,769,618 6,347,851
8,363,547 32.759,270 30,896,895
197,825 5,705,885 5,236,542
110,427 2,845,577 2,609,094
1st wk Dec
1st wk Dec
1st wk Dec
October
Central Vermont
October
Chattanooga South. 4th wk Nov
Chcs & Ohio Lines 1st wk Dec
Chicago A Alton... 1st wk Dec
Chic Bufl A Quincy October
p Chic Great West. 1st wk Dec
Chic Ind & Loulsv. 1st wk Dec
Chic Ind A Southern —See New York Cen tral.
Chic MU A St Paul. October
6,508,261 6,553,305 24,352,306
Canadian Northern.
Canadian Pacific
Central of Georgia.
Central of New Jer.
__
._
__
Ch Mil A Pug Sd.
Chic A North Vv est.
Chic St P M & Om.
Cln Ham A Dayton
Clev Cln Chic A St L
Colorado Midland..
Colorado A South..
Copper Range
Cornwall
...
Cuba Railroad
Delaware A Hudson
Del Lack A West
Denv A Rio Grande
Denver N W & Pao.
Sys
Ann Arbor
Detroit dt Mackinac
Dul & Iron Range..
Dul Sou Sh & Atlan
El Paso A Sou West
Brie i_
Fairchild & Nor E.
Fonda Johns A Glov
.
23,610,689
1,319,990 1,029,687 4,795,113
7,378,280 7,499,670 27,750,328 27,2 38~ 044
1,662,073 1,494,236 5,987,850 5,261,453
885,624 3,443,699 3,336,250
864,697
..
October
October
October
—See New York Cen
October
203,964
1st wk Deo
327.666
60,180
September
October
11,906
October
28,431
October
190.692
October
1.948,931
October
3,218,296
1st wk Dec
433,300
4th wk Nov
18,668
4th wk Nov
48,910
1st wk Dec
42,292
1st wk Dec
18,402
October
922,872
1st wk Dec
56.727
October
602.817
October
5.115.689
October
1.900
October
76.832
..
..
Cornwall A Leban
Det Tol A Iront
October
..
..
__
_.
__
tral.
243,962
308,258
69.518
758,162
7,905,479
197,688
60,125
131,681
821.883
867,475
7,544,195
209,997
56,644
14,020
153,312
39.575
641,234
156,698
1,836,202 7,212.815 6,704,037
3,261,250 12,354,823 12.257.177
395,600 11,378,495 10,893,489
489,411
646,693
15,897
702,717
898,896
42.651
840.687
910.040
37,544
525,405
533,447
19,614
1.266,069 4.516.927 5,484,405
49,578 1,544,481 1,525,770
584,996 2,371,061 2,828,575
5,180,068 20,231.648] 18,894.541
7,503
8,016
1,884
321,666
356.186
71,198
318.130 1,042.208 1,015,690
October
Georgia Railroad
316(283
Georgia South A Fla —Sea Sout hern Rail way.
Grand Trunk Syst. 1st wk Dec
798,837 20,056,924 20,001,556
338,845
127.848 2,298.998 2,449.141
Grand Trk West. Sd wk Nov
110,426
802.667
808.391
Det Gr Hav A Mil 3d wk Nov
38,713
46,879
788.430
872,458
44,168
Canada Atlantto. 3d wk Nov
41.920
Great Northern Syst November. 5,698,315 6*165.465 30,240.657 31,078.621
655,570
698,603
207.313
Gulf A Ship Island. October
179.553
782,298 2,945.970 2,774,562
October
Hocking Valley
759.569
24,420,838
26,112.196
Illinois Central
November 5,348,567 5,126,767
157,000 4,288,419 3,900,782
Internat A Grt Nor 1st wk
166,000
..
__
_
_.
....
Inter oceanic Mex. 1st wk
Iowa Central
1st wk
Kanawha A Mich.. October
Kansas City South. October
K OMex A Orient.. 1st wk Dec
October
Lehigh Valley
Lexington A East.. October
October
Long Island
Louisiana A Ark an. October
Loulsv Hend A St L October
* Loulsv A Nashv.. 1st wk Dec
Macon A B Inning’m November
Maine Central
October
Maryland A Penna. October
a Nat Rys of Mex.l. 1st wk Dec
a Mexico Nor West. October
—See New
Mlchlgan Central
Mineral Range
1st wk Dec
1st
wk Dec
Mlnneap A St Louis
Minn St P A S S Ml 1st wk Dec
a
.
..
Chicago Division]
Mississippi Central. October
3.703.571
3,477,068
54.576 1,487,360
44,737
255,536 1,162,009
290,685
861,897 3,527,437
951,102
878,618
27,800
40,100
12,409,081
3,344,380
3,384,100
173,594
34,866
39,858
Inc.ZtO
Inc.tZ .744
477,386
111,457
113,838
426,611
104,591
108;944
1,076,875 1,051,160 24,159.801
65,863
14,456
14,679
782.135. 3.302.965
823,574
163,085
39.518
42,284
1,208,053 1,098,963 27,713,214
774,446
122,973
218,690
1,531,026
937,125
3,018.670
154,609
160,468
752,553
11,912,704
151.392
.238
427,821
396,844
22,516,574
67,015
3,252,151
148,963
24,248,830
411,319
York Cen tral.
15,327
14,025
71,966
80,706
419,797
384,587
327,454
2.438.546 2,390,703
348,688 10,603,914 11,179,857
278.033
307,977
82.042
77,541
u Mo Kan A Texas. November. 2,867,469 2,433,439 13,123,633 11,858,586
Mo Pac A Iron Mtl
925,000 24,079,363 23.744,275
Central Branch.] 1st wk Dec
972,000
Nashv Chatt ASt L October
1,019,241 1,009,213 3,873,282 3,790,626
a Nat Rys of Mex.f
1st wk Dec 1,208,053 1,098.963 27,713,214 24,248,830
241,371
186,237
8,961
6,290
NevadarCal-Oregon. 1st wk Dec
25,315
26,444
Nevada Central
October
6,866
8,334
430,656
575,503
N O Great Northern October
117,864
139,005
666,394
748,391
36,190
N O Mobile A Chic. Wk Deo 3
36,821
N Y Ont A Western October
702,628 3,482,661 3,134,081
743,44G
_
__
_
_
__
AGGREGATES OF GROSS
Weeklv Summaries.
Cur'nt Year Prev's Year
$
4th
1st
2d
Sd
4th
1st
2d
Id
4th
1st
week Sept
week Oct
week Oct
week Oct
week Oct
week Nov
week Nov
week Nov
week Nov
week Deo
(46 roads)
(42 roads)....
(42 roads)
(42 roads)....
(46
(41
(43
(40
roads)....
roads)
roads)
roads)
(40 roads)
(41 roads).
Week or
ROADS.
Current
Year.
July 1 to Latest Date.
Month.
Previous
Current
Year.
Year.
Previous
Year.
3
3
Ala N O ATcxPacN O & No, East.
Ala & Vicksburg.
Vicks Shrev & P.
Ala Term A North.
Current
Year.
Latest Gross Earnings.
19,035,149
14,399,649
14,838,200
15,114,753
20,827,936
14,198,835
14s553,983
14.278,852
17,439,211
13,426,554
$
18,221,030
14,023,816
14,158,835
14,512,278
20,204,138
13,836,545
14,373,360
13,578,646
16,978,284
12,665,276
Inc. or Dec.
S
+ 814,119
+ 375,833
4-679,365
+ 602,475
+ 623,798
+ 362.290
+ 182,623
+ 700,286
+460,927
+761,278
N Y NH A Hartf..
N Y C A Hud Hlv.
Lake Shore AMS
n Lake E A West
Chic Ind A South
e
October
October
October
October
October
Michigan Central. October
Cleve C C A St L. October
Peoria A Eastern October
Cincinnati North
Pitts A Lake Erie
Rutland
N Y Chic A St L.
Toledo A Ohio C_
Tot aU lines above
N Y
Susq A West..
Norfolk Southern.
Norfolk A Western.
Northern Central..
Northern Pacific...
Pacific Coast Co
Pennsylvania Co
d Penn—E of P A E
d West of P A E.
_
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
Pere Marquette.... October
Phlla Balt A Wash. October
Pitts Cln Ch A St L_ October
_.
..
_.
_.
..
__
__
_.
__
Raleigh A Southp’t October
Reading
Company
PhUa A Reading. October
Coal A Iron Co
October
Total both cos
October
Rich Fred A Potom October
Rio Grande June
Rio Grande South
Rock Island Lines..
St Jos A Grand I si.
St Louis A San Fran
Chic A East IU__
/ Evansv A Ter H
Total of aU lines.
St L Rky Mt A Pao.
St Louis Southwest.
San Ped L A A S L.
505,275 2,002,762 1,909,892
495,288
324.804 1,106,586 1,144,441
327,011
2,706,610 2,700,718 10,621,999 9,953,284
2.868,096 2.585.574 10,858,460 10,126,509
294,366 1,317,324 1,126,349
342,741
484,447
450,827
117,5801 119,076
1,634,951 1,601,088 6,305,250 6,053,791
321.384 1,298,688 1,203,769
331,918
984,127 3.876.976 3,538,274
1,093,571
364,832 1,985,879 1,548,206
500,823
23984419 23017745 93,415,703 87,913,576
326,381 1,246,136 1,128,372
335,527
229,268
862,940
248,034
940,040]
3.300.513 3,045,354 12,591,374 11,553,005
1,180,907 1,245.307 4,401,377 4,360,977
6,368,879 7,793,072 25,491,957 28,991,368
758,929 3,142,392 3,030,650
804,850
4,933,070 4,944,045 20,202,767 19,011,172
14576084 14773884 56,599,707 55,079,207
Inc. 2,28 4,200
Inc.lZ 1,400
1,453,527 1,509,464 5,716,376 5,549,902
1,660.681 1,564,481 6.846.976 6,166,176
3,087,605 2,969,747 12,068,723 11,096,368
14,265
49,535
52,148
15,332
4,008,362 4,062,620 14,892.138 14.343.383
2,992,642 3,444,847 8,679,040 8,860,000
6,996,004 7,507,467 23,571,176 23.203.383
178.319
169,694
728,389
651,228
96,250
287.359
100,463
267,615
September
1st wk Deo
11,560
9,549
289,547
222,892
October
6,622,782 6.410.161 24,282,660 23,777,070
October
172,227
185,079
615,907
644,028
October
4,074,796 3,828,766 14,821,545 14,327,639
October
1,171,671 1,085,712 4.278.299 3,899,589
October
228,649
216,429
982,237
861,778
October
5,475,117 5,130,907 20,082,082 19,089,006
October
568.887
104,237
148,417
707,158
1st wk Dec
234,615 5,574,662 5,091,224
268,025
October
709,265 2,641,656 2,828,047
743,496
_.
._
Seaboard Air Une.l
Atlanta A Blrm. f
Florida W ShoreJ
Southern Indiana
Southern Pacific Co
Southern Railway
Mobile A Ohio...
Cln NO ATexP.
Ala Great South.
5,571,071 5,417,411 22,046,413 20,969,571
9,166,923 8,889,031 35,971,065 34,064,680
4.399,008 4,307,470 17.586,259 16,793,474
..
1st
wk Deo
469.320
450,541
October
183.243
140,478
October
12.478858 12.654702
1st wk Dee 1,220,036 1,163.591
1st wk Deo
213,308
203,409
1st wk Deo
170,813
168,195]
1st wk
71.820
80,296
43J>12
51,022
Georgia Sou A Fla 1st wk
Texas A Pacific
1st wk Deo
342.609
315,101
Tidewater A West. October
6,643
6,276
Toledo Peor A West 1st wk Deo
19,135
18,432
Toledo St L A 'West 1st wk Doc
72,633
70,676
Tombigbee Valley. October
6.440
6.271
Union Paclflo Syst. October
8,905,657 3,890.381
Vaadalla
October
902,5601 919,442
Virginia A Sou West October
110,519
111,704
Wabash
1st wk Dec
583.806
562.173
Western Maryland. September
605.003
810,391
W Jersey A Seash.. October
484.730
437,630
771.581
619.874
Wheeling A Lake E October
34,001
37.688
WrightsvQle A Tenn October
Yazoo A Miss VaU. November. 1,174,392 1.075.125
..
..
8,211,807
823,974
479,800
47,372,616 46.311,921
26.856,885 25.419.397
4,763,976 4,509.602
4,172,329 3,852.952
1,979.739
1,034,361
7.492,723
28,266
531.326
1,723.527
..
__
Various Fiscal Years.
Belief onte Central
Delaware A Hudson
a Mexican Railway
a Mexico North Western
eNY Central A Hudson River
Lake Shore A Michigan South
» Lake Erie A Western
Jan 1
Jan
1
1
1
1
1
1
1
Jan
Jan
Jan
Jan
Jan
Chicago Indiana A Southern. Jan
Jan
Michigan Central
Cleve Cln Chicago A St Louis Jan
Jan
Peoria A Eastern
Jan
Cincinnati Northern
1
1
1
1
Jan
1
Pittsburgh A Lake Erie
Jan 1
Rutland
New York Chicago A St Louis Jan 1
Toledo A Ohio Central-...
Jan 1
Jan 1
Total all lines
Jan 1
Northern Central.
d Penn—East of Pittsb A Erle.. Jan 1
Jan 1
d West of Pittsb A Erie
Phlla Baltimore A Washington Jan 1
Pittsb Cln Chicago A St Louis. Jan 1
Dec 1
Rio Grande Junction
Jan 1
Texas A Pacific...
Jan 1
West Jersey A Seashore
_
to
to
to
to
to
to
Nov
Oct
Nov
Oct
Oct
Oct
to
to
to
to
to
to
to
to
to
to
to
to
to
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
to
to
to
to
to
Oct
Oct
26,065
511,732
1.780,756
25,122
4,322,429
4,249,252
Previous
Year.
30
378,908
357,397
31 16,848,067 16,001,404
21 7,411,100 6,721,200
31
1,843,337 1.029,068
31 82,941,861 76.638.451
31 41,299,387 37,038,582
31
4,573,643 4,077,233
31
3,032,345 2.571,125
31 24,609,403 22,543,654
31 25,039,728 22.634,621
31
2,909,083 2.462,701
31 1.074.413
975,457
31 14,588.878 11,836,433
31 2.775.033 2,573,816
31
9.326,499
8,209,747
81
4,151,566 3,177,743
31 216321842 194739 563
31 10,591,771 10,072,071
31 137023656 125222056
31
inc.11,66 4,000
31 15,929,387 14,631,387
31 28,855,414 24,686,468
Oct
Oct
Oct
Oct
to
7,002,416
33,911,422 32,474,222
3.758,283 3,310,456
416,781
420.587
13,823,390 13,147,072
2,008,356 1.722,046
2,967.569 2,643,068
2.580,589 2,471,015
110,294
100,322
Current
Year.
Period.
1.725,506
1,008,737
27.479
.
.
.
8,804,057
843,176
765,504
7 14,923,398
31
5,567,521
13,620,584
5,041,621
Sept 30
Deo
Oct
EARNINGS—Weekly and Monthly.
Monthly Summaries.
%
Mileage Curr. Yr. Prev.Yr.
4,47
2.68
4.80
4.15
3.06
2.61
1.27
5.16
2.71
6.08
238,169
231,652
230,841
232,463
232,494
232,054
233,203
August ____238,493
289,404
September. .233,428
232,162
228,050
87,809
86,221
February ..236,852
March
235,925
April
237,369
May
237,660
June
238,108
July
October
November
229,161
Current Yr. Previous Y\
$
5
Inc. or Dec.
%
$
202.258,490 174,169,723 + 28,098,767 16.15
237,533,005 204,910,997 +32,616,008 15.02
225,225,696 196,595,911 + 28,629,685 14.56
234,310,642 201,069,381 + 33.241.261 16.53
237,030,159 209,270,887 + 27,765,272 13.27
230,615,776 217,803,354 + 12,812,422 5.90
254,006,972 235,726,000 + 18,279,672 7.75
252,711.515 242.562.898 + 10.148,617 4.19
266,585,392 263,922,867
+2,662,526 1.05
69,823,448 68.188.393 + 1,690,055 2.48
' d Covers lines dlrestly operated,
e Includes tho Naw York A Ottawa, the St. Lawrence A Adirondack and the Ottawa A
a Canadian road, does not make returns to the Interstate Commeroe Commission,
f Includes Evansville A
Indiana RR. g Includes the Cleveland Lorain A Wheeling Ry. In both years, n Includes the Northern Ohio RR. p l.noludea earnings of MasonCHty
h Ft Dodge and Wise Minn. A Pacific,
I In*
s Includes Louisville A Atlantic from July 1 1909 and the Frankfort A Cincinnati from Nov- 1 1809.
dudes the Mexican International from July 1910.
u Includes the Texas Central In 1910.
a
Mexican currency.
N. Y. Ry., the latter of which, being
1626
THE CHRONICLE
Latest Gross Earnings by Weeks.—In the table which
follows we suin up separately the
earnings for the first week
of December.
The table covers 41 roads and shows 6.08%
increase in the aggregate over the same week last
Gross Earnings
Copper Range.b
July 1 to Sept 30
Alabama Great Southern
1910.
1909.
3
5
Increase.
80.296
71,820
Atlanta Blrm A Atlantic
64,786
51,630
Buffalo Rochester A Pittsburgh
182,134
166,550
Canadian Northern
339,200
321,300
Canadian Pacific
1,973,000 1,905,000
Central of Georgia
278,900
242,300
Chesapeake A Ohio Lines
574,758
582,352
Chicago A Alton
287,839
237,473
Chicago Great Western
221,387
197,825
Chicago Indianapolis A Loulsv.
103,930
110,427
Cin New Orl A Texas Pacific
170,813
168,195
Colorado A Southern
327,666
308,258
Denver & Rio viranae
433,300
395,600
Detroit A Mackinac
18,402
19,614
Detroit Tole.io <sc Ironton—
Ann Arbor
42,292
37,544
Duluth South Shore A Atlantic.
56,727
49,576
Georgia S mthern
Florida
45,012
51,022
Grand Trunk of Canada
Grand Trunk Western
838,345
798.837
Detroit Gr Haven A MIlw__
r-'
Canada Atlantic
International A Great Northern
166,000
157,000
Interoceanic of Mexico
154,6 >9
160,468
Iowa Central
44,737
54,576
Kansas City Mex A Orient
40r100
27,800
Louisville A Nashville
1,076,875 1,051,160
Mineral Range
14,025
15,327
Minneapolis A St Louis
80,706
71,966
Minn St P A S S M
1
419,797
348,688
■Chicago Division
J
Missouri Pacific
972,000
925.000
Mobile A Ohio
213,308
203,409
National R I vavs of Mexico.
1,208,053 1,098.968
Nevada-California-Oregon
6,290
8,961
Rio Grande Southern
11,560
9,549
St Louis Southwestern
268,025
234,615
Seaboard Air Line
469,320
450,541
Southern Railway
1,220.036 1,163,591
Texas A Pacific
342,609
315,101
Toledo Peoria A Western
19.135
18,432
Toledo St Louis A Western
76,676
72,633
Wabash
583.806
562,173
__
•
Total (41 roads)
Net increase (6.08%).
•
13,426,454 12,665,276
$
7,594
50,366
23,562
6,497
2,618
19,408
37,700
1,212
4,748
7,151
6,010
39,508
9,000
1,302
2,671
2,011
33,410
18,779
56,445
27,508
„
— —
^
w
703
4.043
21,633
802,162
761,178
Jan 1 to Oct 31_
Inc 672,359
Louisv Hend A St L.a.-Oct
108,944
104,591
July 1 to Oct 31
426,611
396,844
g Mexico N W Ry.a
Oct
218,690
122,973
Jan 1 to Oct 31
1,843,337
1,029,068
Mineral Range.b
Oct
64,374
73,725
July 1 to Oct 31
252,159
298,657
Minn St P A S S M.a-.«Qct 1,269,067
1,915,981
July 1 to Oct 31
4,951.868
5,934,041
Chicago Dlvlsion.a
Oct
819,508
802,660
July 1 to Oct 31
3,227.484
2,983,469
Mississippi Central, b
40,984
Earnings Monthly to Latest Dates.—In our “Railway
Earnings” Section, which accompanies to-day’s issue of the
“Chronicle” as a special supplement, we
print the October
returns of earnings and expenses (or in the
absence of the
October
figures those for the latest previous month) of
every steam-operating railroad in the United States which is
obliged to make monthly statements to the Inter-State
Commerce Commission at
Washington.
The Inter-State Commission returns are all on a uniform
basis, both as to revenues and expenditures, and possess
special utility by reason of that fact. In a number of
instances these figures differ from those contained in the
monthly statements given out by the companies themselves
for publication, and in which the accounts are
prepared in
accordance with old methods of
grouping and classification
pursued in many instances for years. We bring together
here (1) all the roads where there is a substantial difference
between the two sets of figures, so that those
persons who
for any reason may desire to turn to the
company statements
will find them readily available.
We also give (2) the re¬
turns of such roads (even where the
figures correspond
exactly with those in the Inter-State Commerce reports)
which go beyond the requirements of the Commission and
publish their fixed charges in addition to earnings and ex¬
penses, or (3) which have a fiscal year different from that of
the Inter-State Commerce
Commission, in which latter case
insert the road
show the results for the
company’s
We likewise include (4) the few roads which
operate entirely within State boundaries, and therefore do
not report to the Federal
Commission, and (5) Mexican and
Canadian companies.
We add (6) the roads which have
issued their- own statements for
October, but have not yet
filed any returns for that month with the
Commission.
Finally (7) we give the figures for any roads that have
already submitted their November statement.
so as
to
year.
Roads.
Gross Earnings
Current
Previous
Year.
Year.
Net Eaminos
Current
Year.
Previous
Year.
$
8
$
$
Atch Top A Santa Fe b-Oct 9,931,805
9,444,348 JZ.762.648 #3,587,499
July 1 to Oct 31
36,091,145 34,879,236 ^13.498.835 ^13^334,985
Baltimore A OhiO-b
Oct 8,168,817
7,840,698
2,267,034 2,705,183
July 1 to Oct 31
32,684,444 30,518,589 10,014,114 10,736,887
Bangor A Aroostook.b.-Oct
269,559
256,085
99,781
98,884
July 1 to Oct 31
995,959
950,551
344,756
375,219
Bellefonte Central. b
Nov
8,566
7,083
def.5
1,221
Jan 1 to Nov 30
78,908
57,397
16,475
5,389
Bridgeton A Saco River.Oct
4,456
3,828
235
def.91
July 1 to Oct 31
20,479
19,181
7,115
6,843
Buffalo Roch A Pitts.b-Oct
889,593
800,899
317,124
294,088
July 1 to Oct 31
3,369,847 3,232,212
1,298,960
1,289,362
Canadian Northern
Oct 1,627,800
1,384,200
580,500
480,700
July 1 to Oct 31
5,225,800 4,111,600
1,572,900
1,226,200
Canadian Pacific.a
Oct 10,229,370
9,744,597
4,505,160
4,386.297
July 1 to Oct 31
37,669,130 32,634,790 15,593,052 13,262,116
Central of New Jersey.b.Oct 2,418,345
2,459,702
1,009,226
1,162,318
July 1 to Oct 31
9,645,744
9,182,359
3,981,542
4,132,820
Chesapeake A Ohio.b.-.Oct 2,903,392 2,706,951
961,359
1.123,389
July 1 to Oot 31
11,502,747 10,491,828
4,152,733
4,345,056
Chicago Great Western b Oct 1,245,453 1,115,170
379,061
400.840
July 1 to Oct 31
4,443.840 3,974,464
1,296.043
1,184.529
Colorado Midland.a
Oct
203,964
243,962
35,263
58,287
July 1 to Oct 31
758,162
867,475
122,258
160,488
Colorado A Southern.b-Oct 1,632,436
1,609,924
660,646
660,027
July 1 to Oct 31.
5,996,434
5,665,391
2,120,450 2,180,752
Oct
77,541
July 1 to Oct 31
307,977
Missouri Kans A Tex.b-Oct 3,164,140
July 1 to Oct 31
10,256,164
Missouri
Net
190,692
31
Interoceanic of Mex___Oct
765,502
727,507
July 1 to Oct 31
2,860,196
2,669,020
Kansas City Southern. b.Oct
951,102
861,897
July 1 to Oct 31
3,527,437 3,018,670
Long Island
Oct
Inc 62,744
5,859
9,839
47,000
9,899
109,09
Oct
$
69,518
209,997
g
12,300
25,715
8,740
71,109
Year.
5
60,180
197,688
156,698
821,883
641,234
Delaware A Hudson.b._Oct 1,948,931
1,836,202
Jan 1 to Oct 31.
16,848,067 16.001,404
Denver A Rio Grande.a.Oct 2,284,437
2,269.460
July 1 to Oct 31
8,792,196
8,438.390
Duluth So Sh A Atl-b.-.Oct
280,052
308,234
July 1 to Oct 31
1,227,669
1,212,410
Erie.a
...Oct 5,115,689
5,180,085
July 1 to Oct 31
20,231,648 18.894.541
Georgia RR.b.
Oct
316,283
318,130
July 1 to Oct 31
1,042,208
1,015,690
Grand Trunk of Canada—
Grand Trunk Ry
Oct 3,251.308
3,129,646
11,847,494
Grand Trunk Western.Oct
542,615
525,582
July 1 to Oct 31
1,964,606 2,093,568
Det Gr Hav A Milw__Oct
201,960
184,441
July 1 to Oct 31
664,764
687,637
Canada Atlantic.
Oct
203,906
202.446
July 1 to Oot 31
668.657
731.434
Illinois Central.a
Oct 5,617,669
5,301,602
July 1 to Oct 31
20,763,629 19,294,071
July 1 to Oct
Decrease.
5
8,476
13,156
15,584
17,900
68,000
36,600
Net Earnings
Previous
Current
Year.
Year.
$
$
Previous
Sept
„
Cuba RR
First Week, of December.
we
Current
Year.
Roads.
year.
own
[VOL. Iiixxxil.
0
Pacific, b
July 1 to Oct 31
Nat Rys of Mexico
July 1 to Oct 31
Nevada-Cal-Oregon.b
82,042
278,033
2,856,104
9,425,147
Oct 4,889,269
4,915,314
18.494,363 18,162,275
Oct 5,735,960
4,823,874
21,325,339 18,203,032
Oct
July 1 to Oct 31
New Orl Great North.a.Oct
July 1 to Oct 31
38,018
151,712
49,350
196,055
117,864
139,005
575,503
430.656
cN Y Cent A Hud Rlv.b.Oct 9,166,923
8.889.032
Jan 1 to Oct 31
82,941,864 76,638,451
Lake Shore A M S.b.Oct 4,399,008
4,307,469
Jan 1 to Oct 31
41,299,387
e Lake Erie A West.b--Oct
495.287
505,275
Jan 1 to Oct 31.
4,573,643 4,077,233
*
Chicago Ind A Sou.b-Oct
23,081
76,220
71,683
346.454
909,618
6.737,571
655,460
2,752,051
90,266
445,924
55.194
116,422
40,080
196,590
917,690
6,371,892
718,487
2,765,461
107,733
420,616
1,357,663
5,963,169
110,543
243,191
1,704,180
5,470,214
110,627
920.255
78,107
362,797
948.481
3,457.162
104,629
587,385
51,585
101,222
44,285
168,136
45,988
57,668
53,531
93,923
1,483,163
4,875,389
1.292,786
3,442,524
245,198
854,037
324.453
1,020,237
3,434,289
275,112
288,095
1,061,560
387.856
1.346.964
Dec 43,141
Dec 92,981
25,124
19,207
107,568
97,665
119,761
60,524
1,028,244
351,856
7,460
def.520
7,883
50,174
1,080,279
2,835.276
488,553
1,900,643
192,194
277,308
899.378
1,030,815
30,774
33,054
128,861
118,193
1.277,072
1,324,723
3,216,086 3,590,642
1,348,510
1,828.047
4.619,416
5.947.780
2,520.603
1,797,604
8,806,718 6,917.937
16,932
29,074
72.205
116,902
47,311
39,482
224,603
141,111
2,590,220 3,027,229
21,922.099 23.468.702
1,252.326 1,782,098
108,044
1,037,298
78,000
720,461
634,376
6,764.763
724,828
5,725,216
170,01#
877,936
95,808
327,011
324,804
3,032,345
2,571,125
574,652
Michigan Central.b
Oct 2,706,510
2,700,718
1,081,361
Jan 1 to Oct 31
.24,609,403 22,543,654
7.326,377
C C C A St Louls.b.-Oct 2,868,096
2,585,574
811,285
Jan 1 to Oct 31
25,039,728 22,634,621
6,554,825
Peoria A Eastern.b
Oct
342,741
294,366
105.359
112,011
Jan 1 to Oct 31
2,909,083
2,462,701
823,752
733.901
Cincinnati Northern.b Oct
117,580
119,075
18,233
40,631
Jan 1 to Oct 31
1,074,413
975,457
219,485
230,505
Pittsburgh A Lake E b Oct 1,634,951
1,601,088
906,248
1,061,980
Jan 1 to Oct 31.
14,588,878 11,836,433 7,987,020
6,682,587
Rutland, b
Oct
331,918
321,384
100,575
98,361
Jan 1 to Oct 31.
2,775,033
2,573,816
829,680
757,264
N Y Chic A St L.b.-.Oct 1,093,571
984,127
368,280
432,682
Jan 1 to Oct 31
9,326,499 8,209,747
2,874,783
2,629,987
Toledo A Ohio Cen.b.Oct
500,823
384,833
189,900
14b,732
Jan 1 to Oct 31
4,151,566
3,177,743
1,509,512
978,892
23,017,745 7,076,383
8,860.197
Jan 1 to Oct 31
216,321,842 :194,739,563 63,008,150 64,911,425
N Y Ontario A West.a.-Oct
743,446
702,628
177,071
205,215
July 1 to Oct 31
3,482,661
3,134,981
1,209,718
991,375
N Y Susq A Western.a.-Oct
335,527
326,581
117,955
96.499
July 1 to Oct 31
1,246,136 1,128,372
355,681
294.149
Norfolk A Western.b
Oct 3,300,513
3,045,354
1,357.516
1,246,225
July 1 to Oct 31...
12,591,374 11,553,005 4,838,780 4,823,566
Northern Central_b
Oct 1,180,907
1,245,307
150,873
445,973
Jan 1 to Oct 31
10,591,771 10,072,071
1,879,078
2,142,078
Jan
1
to
Oct 31
Pacific Coast Co
July 1 to Oct 31
Oct
804,850
3,142,392
Pennsylvania—Lines directly operatedJan
1
to
Oct 31
137,023,6
West of Pitts A Erie. .Oct
Jan 1 to Oct 31
758,929
3,030,650
170,279
732,267
157.536
765,159
14,773,884
4,541,187
5,112,887
125,222,056 37,643,188 36,819.388
Inc
121,400
Inc 11,664,000
Dec 567,100
Inc 413,500
Phila Balto A Wash
Oct 1,660,681
1,564,481
Jan 1 to Oct 31
15,929,387 14,631,387
Pitts Cine Ch A St L.a.-Oct 3,087,605
2,969,747
Jan 1 to Oct 31
28,855,414 24.686,468
Reading Company—
Phila A Reading.b---Oct 4,003,362
4,062,620
July 1 to Oct 31
14,892,138 14,343,383
Coal A Iron Co.b
July 1 to Oct 31
Total both cos.b
July 1 to Oct 31
Reading Company
July 1 to Oct 31
Total all
Oct 2,992,642
3,444,847
8,679,040
8,860,000
Oct 6,996,004
7,507,467
23,571,176 23,203,385
Oct
companies—Oct
—
July 1 to Oct 31
Rio Grande Junction
Dec 1 to Sept 30
-
Sept
-
100,463
86,250
843,176
765,504
33,548
Rio Grande Southern.b-Oct
57,974
July 1 to Oct 31
225,096
152,609
Rock Island Lines.b
Oct 6,622,782
6,410,161
July 1 to Oct 31
.24,282,660 23,777,070
St Louis A San Fran.b.-Oct 4,074,796
3,828,766
July 1 to Oct 31
14,821,545 14,327,639
Chic A East’n IU-b-.-Oct 1,171,671
1,085,712
July 1 to Oct 31.
4,278,299
3,899,589
Evansv A Terre H-b--Oct
228,649
216,429
July 1 to Oct 31
982,237
861,778
600,836
3,914,722
817,535
6,260,544
1.453.399
5,227,095
41,001
def353,803
1.494.400
4,873,292
143,735
581,833
631,636
3,892,922
1,011,801
6,531,786
1,705,227
5,556,318
252,066
24,979
1,638,135
5,455,125
1,957,293
5,581,297
144,918
588,405
2,102,211
6,169,702
7230,139
72252,952
7228,875
72229,651
24,876
85,440
6,800
37,189
2,097,488
7,097,890
1,396,639
4,827,015
2,397,218
8,351,611
1.148,821
4,430,655
400,756
1,442.932
88,557
377,929
371,123
1,394,708
75,400
388,648
Dec. 17
THE CHRONICLE
1910.)
-Net Earnings
Gross Earnings—
Current
Current
Previous
Previous
Year.
Roads.
Year.
Year.
Year.
8t L &*San Fran (Conci)—
$
' $
$
$
Total all Lines-b
Oct 5,475,117
5,130,907
1,843,163
1,638,134
20,082,082 19,089,006
6,610,372 6,251,516
July 1 to Oct 31
St L Rocky Mt & Pao.a.Oct
194,237
68,903
148,417
50,881
July 1 to Oct 31
568,887
240,899
707,158
182,012
St Louis Southwest-a
Oct 1,174,874
1,148,285
393,497
402,373
4,079,020 3,774,160 1,084,124
July 1 to Oct 31
1,190,628
Southern Paciflc.a
Octl2,478,958 12,654,702
4,619,330 5,341,062
July 1 to Oct 31
47,372,616 46,311,921 17,283,915 18,429,189
Texas & Pacific.b
Oct 1,645,111
619,258
1,575,952
693,051
Jan 1 to Oct 31
12,893,747 11,705,799
2,785,065 2,750,756
Toledo Peo & Westem.b-Oct
117,297
106,927
26,460
29,805
November
16,203
103,847
90,207
17,080
562,191
493,300
131,413
July 1 to Nov 30
131,663
Union Paciflc.a
Oct 8,905,657
4,052,659
8,890,381
4,770,102
July 1 to Oct 31
33,911,422 32,474,222 15,047,865 17,110,551
West’n Maryland Ry.a-Sept
665,658
610,391
r246,641
r232,534
July 1 to Sept 30
2,003,356 1,733,046
r775.032
r661,355
West Jersey & Seashore.Oct
437,630
16,138
484,730
39,538
Jan 1 to Oct 31.
5,567,521
5,041,621
1,322,995
1,384,695
Yazoo & Miss Valley-a--Oct
965,137
1,024,095
275,097
242,073
July 1 to Oct 31
3,148.037 3,174,137
443,116
232,749
QUARTERLY RETURNS.
-Gross Earnings
Roads.
Year.
Current
Year.
Previous
Year.
3
$
$
$
305,167
849,663
24,052
68,718
47,144
144,706
Companies.
3
Keystone Telephone Oo aNov
July 1 to Nov 30
Kings Co El, Lt & Pow__Nov
Jan 1
to
Nov 30
96,474
475,628
403,934
3,905,675
-Net Earning sCurrent
Previous
Year.
Year.
$
$
91,851
456,262
346,815
3,367,413
Roads.
Current
Year.
Previous
Year.
Current
Year.
Previous
Year.
$
$
$
$
New London Northern—
62,988 def38,936
defl5,844
188,964#defl01,607 #def41,839
62,988
172,837
July 1 to Sept 30
Jan 1 to Sept 30
INDUSTRIAL COMPANIES.
—Int., Rentals, <fec.—
Current
Year.
Companies.
Keystone Telephone Co .Nov
July 1 to Nov 30.
Kings Co El, Lt & Pow__Nov
Jan 1 to Nov 30
Previous
Year.
$
24,392
122,551
—Bal. of Net E’ngs.—
Current
Previous
Year.
Year.
$
24,634
126,442
99,461
976,631
117,777
1,164,032
3
48,369
237,985
46,240
229,584
225,153
2,034,367
181,478
1,708,769
$
23,977
115,434
107,376
870,335
After allowing for miscellaneous charges and credits to Income,
after allowing for other income and for discount and
exchange.
The sum of $10,000 Is deducted every month from surplus
d These ngures are
and
#
placed to the credit of the renewal fund.
After allowing for other income received.
ELECTRIC
AND TRACTION COMPANIES.
RAILWAY
Name of
Road.
Week or
Month.
November
October
October
American Rys Co
c Au Elgin & Chic
Ry
Bangor Ry & Elec Co
Current
Year.
Previous
Year.
$
$
296,087
137,662
49,173
8,937
307,375
154.359
_
49,593
9,598
—
Elec Co Octooer
October
Binghamton Ry
Blrm’ham Ry Lt & P July
Brockt’n & Ply St Ry October
__
_.
October
November
__
Current
Year.
These results
in Mexican currency.
) The company now includes the earnings of the Atch. Top. & Santa Fe
Ry., Gulf Colo. & Santa Fe Ry., Eastern Ry. of New Mexico system
g
are
Santa Fe Prescott & Phoenix Ry., Southern Kansas Ry. of Texas, Texas
& Gulf Ry., G. & I. Ry. of T. and C. S. S. & L. V. RR. in both years
For Oct. taxes amounted to 3260,599, against 3308,635 in 1909; after de¬
ducting which, net for Oct. 1910 was 33,502,049, against $3,278,864 last
year.
For period from July 1 to Oct. 31 taxes were $1,202,951 in 1910
against $1,170,969 In 1909,
■
-ifffjftfiflfflM
n These figures represent 30% of gross earnings,
~
After allowing for miscellaneous receipts and net from coal and other
departments, total net earnings for Sept. 1910 were $269,256, against
$262,857 In 1909; and from July 1 to Sept. 30 were $832,400 in 1910,
r
against $775,068 in 1909.
Interest
Charges and Surplus.
Gross Earnings
Current
Previous
Year.
Year.
Roads.
Bangor & Aroostook- —-Oct
July 1 to Oct 31
$
93,704
378,461
Bellefonte Central
Nov
236
* Jan 1 to Nov 30
2.596
Bridgeton & Saco River-Oot
640
2,435
July 1 to Oct 31
Buffalo Roch & Pittsb—Oct
176,691
July 1 to Oct 31
707,685
Central of New Jersey
Oct
533,813
July 1 to Oct 31
2,114,762
Chesapeake & Ohio
Oct
622,428
July 1 to Oct 31
2,624,174
Chicago Great Western—Oct
222,467
July 1 to Oct 31
823,190
Colorado Midland
_Oct
29,820
July 1 to Oct 31
119,280
Colorado & Southern
Oct
287,572
July 1 to Oct 31
1,082,261
11
Copper Range
Sept
July 1 to Sept 30r
15,712
47,137
Cuba RR
Oct
36,667
July 1 to Oct 31
W9
146,667
Denver & Rio Grande
Oct
526,887
July 1 to Oct 31---__- 2,000,209
Duluth So Sh & Atl
Oct
97,839
July 1 to Oct 31
388,014
Georgia RR
Oct
67,373
July 1 to Oct 31
326,543
Louisv Head & St L
Oct
16,075
July 1 to Oct 31
68,397
Mineral Range
Oct
13,614
53,084
July 1 to Oct 31
Missouri Ivans & Texas-_Oct
549,269
July 1 to Oct 31
2,334,752
Nevada-Cal-Oregon
July 1 to Oct 31
Oct
4,380
17,019
41,711
167,152
111,870
467,100
New Orl Great Northern_Oct
July 1 to Oct 31
N Y Ontario & Western.Oct
July 1 to Oct 31
Norfolk & Western
Oct
500,473
July 1 to Oct 31
2.008,380
Reading Company
July 1 to Oct
Oct
885,000
3,540,000
Rio Graade Junction. ..Sept
Dec ) to Sept 30,
8,333
83,333
Rio Grande Southern
Oct
July 1 to Oct 31
St L Rocky Mt & Pac-__Oct
July to Oct 31
St Louis Southwestern..Oct
July 1 to Oct 31
Toledo Peo & Western..Oct
November
July 1 to Nov 30
19,119
77,410
31
32,944
131,192
173,577
691,974
25,905
24,118
125,048
Net Earnings
Current
Previous
Year.
Year.
$
$
80,776
330,236
#24,506
#39,849
$
#36,917
#101,025
243
def.241
978
2,673
13,879
2,717
593
2,459
169,327
663,266
def.405
def.684
342,762
1,989,059
532,752
2,089.559
214,437
997,968
29,820
119,280
256,307
1,018,129
11,957
35,832
36,657
141,877
447,214
4,384
4,680
#149,998
#208,523
#878,083
#726,074
475,413
819,556
1,866,780
2,143,761
#590,637
#338,931
#1,528,559 #2,255,497
#177,604
#191,892
#202,404
#518,076
C14.309
cdef4,529
cdef36,888 cdcfl3,444
C421,406
C372.218
cl,069,854 Cl,275,553
43,237
7,369
80,590
29,083
3,432
35,017
54,719
199,788
d327,182
dl93,657
dl,052,742 dl,308,181
21,528
1,791
70,849
87,920
#57,156
#55,157
#68,179
#def49,086
1,710,869
90.395
368,010
61,421
242,016
#3,256
#9,633
17,256
#41,353
#36,003
64,401
13,399 #def4,915 #def5,482
52,983 #def48,647 #def2,713
#754,609
#756,122
574,477
#982,081 #1,424,824
2,179,454
#26,555
#13,308
3,594
#106,240
#58,309
14,360
7,280
11,692
45,398
15,822
73,664
184,948
111,913
65,201
93,302
610,221
742.618
381,152
778,542
857,042
467,682
2,830,396 2,967,836
1,855,729
1,202,240
753,135
899,971
3,599,884 1,915,125 2,569,818
20,542
21,806
8,333
146,318
169.619
83,333
#6,211 #def 10,400
18,770
#12,235 #def32,401
75,574
23,478
35,959
27,403
47,790
109,707
134,222
#270,385
#264,208
174,375
#664,021
#521.714
691,303
#8,139
#2,894
23,523
23,678 #def.5,916 #def.4.058
#21,810
119,646
#19,943
Previous
Year.
3,586,533
1,415,845
471.776
89,425
3,321,598
1,496,110
1,276,482
103.927
114,155
1,296,068
444,669
79,686
27,788
183,187
10,253
9.797
__
August
Bklyn Rap Tran Sys_
Cape Breton Elec Co_
Oarollua Pow & Lt Co
Cent Park N & E Rlv
Central Penn Trac—
Chattanoova Ry & Lt
Chicago Rys Co
28,462
216,505
Jan. 1 to latest date.
1972,238 1936,237 14,573,476 13.707,505
30,495
247,558
215,157
27,253j
231.379
200,002
223.050
200,611
58,425
53,469
422,480
391,843
757,376)
60,227
77,993
67,570
728,940
Octobe,— 1250,923 1109,640 10,265,252
31,818
29,467,
301,199
Cleve Palnesv & East October
160,020 166,357] 1,027,223
Coney Isl & Brooklyn August
i>ar
147.83
l
165.371
.202.M*.
nalifts electric Corp.
Detroit United Ry. - - 1st wk Dec 157,018 143,205 8,684,527
54,036
56,506
411,023
D D E B & Bat (Rec) August
95,27*
87,23
906,00*
inl ith-Superior Trac ictooer
209.592 191,775] 1,966,354
East St Louis & Sub. October
)ctooer
55,172
58,347
515,504
El Paso Eieciric
58.504
504,497
41,433
Falrm & Clarks Tr Co October
Ft Wayne & Wabash
October
131.360
122,806
1,266,086
Valley Traction Co
687,747
642.355
August
_
—
vovember.
October
65,902
__
._
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
c Includes the N. Y. & Ottawa, the St. Lawrence & Adirondack and the
Ottawa & N. Y. Ry., the latter of which, being a Canadian road, does not
make returns to the Inter-State Commerce Commission.
e Includes the Northern Ohio RR.
$
21,606
103,142
82,017
732,138
c
M^ton Rousre
INDUSTRIAL COMPANIES.
-Gross EamingsCurrent
Previous
Year.
Year.
.
Latest Gross Earnings.
Previous
288,908
866,988
QUARTERLY RETURNS.
—Int., Rentals. &c.— —Bal. of Net E’ngs.—
Net Earnings
Current
Year.
New London Northern _b—
July 1 to Sept 30
Jan 1 to Sept 30
1637
•
_.
.
.
__
42dStM&SNAv (Rec)
Galv-Hous Elect Co.
Grand Rapids Ry Co.
Havana Electric Ry_
Honolulu Rapid Tran
& Land CO
Houghton Co Trac Co
Hudson & Manhattan
Illinois Traction Co—
Intcrbor R T (Sub)
Interbor R T (Elev).
Jacksonville Elect Co
Kans City Ry & Lt Co
Lake Shore Elec Ry.
Long Island Electric,
Metropolitan St (Rec)
Milw El Ry & Lt Co.
MIIw Lt Ht & Tr CoMontreal Street Ry-Nashville rty & Lighi
New Orleans Rv- & Lt
N Y City Interbor-_.
August
October
__
October
Wk Dec 11
--
October
_
August
August
Octooer
October
October
August
August
929,909
1,161,156
859,684
113,476
91,267
43,546
102,014
1,079.612
947.928
996,619
858.541
2,037,954
1,909,198
39,118
36,375
26,543
138.433
509,171
373,675
341,989
268,968
__
--
—
October
October
October
)ctober
October
__
_.
_.
August
N Y & Long Island Tr August
N Y & Queens County August
ovember.
N >rf <sc Ports n Tr C<
North Ohio Trac & Lt October
North Texas Elec Co. October
November.
Northwest Elec Co_
Ocean Electric
August
Paducah Tr & Lt Co. Octooer
Pensacola Electric Co October
Port (Ore) Ry, L &PCo November
Puget Sound Elec Co. October
Richmond Lt & RR. July
Rio de Janeiro Tram
Light & Power Co October
St Joseph (Mo) Ry Lt
..
—
176,137
155.75
184,815
135,697
187,654
24,147
178,938
1,195.575
2,021,612
26,764
88,482
20,949
23,650
18.924
21.027
411,001
170,199
.
_
_
_
August
August
October
__
_.
July
October
Tampa Electric Co.
Third Avenue (Rec)
_
.
Underground
223.114
205,077
4,385,356
1,581,086
189,996
8,999,034
6,252,690
87,644
255,62*
53,794
469,033
83,582
10,799
15,606
41,446
43,254
82,296
205,14f
50,618
544,077
80,683
942,007
2,406,201
521,977
887,466
1,981,417
550,467
72,240
149,597
149,793
502,459
564.896
146,097
4H7.018
9,817
13,65
37,08
50,751
502.436
59,067
134,061
278,6861 2,378,817
2,008,166
332.977
3,575,659
131,640
7,021,365
3,190,268
6,478,416
£14,250 £14,010
£630,610
£11,670
£530,345
£306,019
239,375] 2,437,467 2,220,811
El Ry
of London—
Three tube lines
Metropolitan Dist.
United Tramways
Union (Rec).
UnlonRy.G&ECodlli
United RRs of San Fi
Westches Elec (Rec)
.
_
Wk Dec 10
Wk Dec 10
__
October
August
_ _
These figures are for
670.295
56,584
35,620
35,672f
212,511
284.293
..
Actober
£11,100
£5,079
189,321
266,263
733,766
51,103
£5,143
Wy Dec 10
August
Whatcom Co Ry & Lt October
Yonkers RR (Rec)
August
c
1,818,987
1,045,816
1,886,791
86.979
42.658
258,820
379.721
142.084
_
3.493,240
783,825
3,293,772
1,415,675
4.972,849
110,935
226,817
656,371
645,195
296,474
August
Toledo Rys & Lt Co. October
October
Toronto Ry Co
Twin City Rap Tran. 1st wk Dec
9.156,290
47.797
.
__
392,154
5.697,049
929,316
130,921
965,26?
161,760
__
November
October
October
October
2.045.748
4",379",325
5,108,927
1,607,034
195,133
498,953
_
.
263,642
208,342
154,007
.
_
40,896
186,862
1,656,179
614,475
5,018,865
915,702
9,149,929
1189,428
10,069,685
48.367
41,567
471,781
693,420 642,238 6,189,534
94.255 1,018,739
105,075
24,226
24.625
140,872
1132,410 1072,661 9.385.226
406,919 376.355 3,863.695
896,007
89,028
77,696
386,688 354,007 3,712,797
161,507 148,99
1,503,354
533,764
527.180 5.162,783
146.362
20,534
15,503
40,319
39,307
243,107
111,065
742,763
98,936
_.
Heat & Power Co.
Sao Paulo Tr Lt & P
Savannah Electric Co
Seattle Electric Co—
Second Avenue (Rec)
Southern Boulevard.
Sou Wisconsin Ry Co
Staten Isl Midland—
82,519]
26,192
October
—
120.563
_
August
1,079,139
7,449,525
420,645
810,837
1,672,853
485,222
387,874
129,238
__
Octooer
9,298,394
271,673
1.025,421
..
£621,840
£486,469
£294,417
1,355.726
1,488,773
2,421,889
6,337,515
2.282,987
352.450
334,910
288.795
330.862
6,190.805
59,107
-_
consolidated company.
Electric Railway Net Earnings.—The following table give s
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Nov. 26 1910.
next will appear in the issue of Dec. 24 1910.
Gross
Current
Roads.
Earnings—
Year.
$
d Carolina Pow & Lt
Co.Nov
Jan 1 to Nov 30
Chicago
Railways
Jan 1 to Oct 31
Previous
Year.
$
21,379
223,050
20,002
200,611
Oct 1,250,923
1,109,640
10,265,252
The
Net Earnings
Current
Previous
Year.
Year.
$
6,906
89,697
$
6,351
77,675
n375,277
n332,89*
9.298,394 n3,079,575 t)2,789,516
1638
THE CHRONICLE
Current
Previous
Year.
Year.
Road*.
i
*
vi*
147,838
1,079,139
76,219
402,878
509,171
4,379,325
155,757
824,968
276,115
2,052,819
79,534
397,531
3
67,4 41
401,534
244,02 6
1,858,763
70,2 61
365,6 26
NorfJ& Portsm Trac.b.-Nov
July 1 to Nov 30
Portland (Or) Ry.Lt&P b Nov
Jan 1 to Nov 30
176,137
000,711
408,053
5,108,027
411,001
4,385,356
276,372
2,893,959
236,731
2,371,137
$
$
■
Dallas Electric Corp.b-.Oot
165,371
■i Jan 1 to Oct 31
1,202,084
Illinois Trac Co_a
Oct
614,475
Jan 1 to Oct 31
5,018,865
Net Earnings
Previous
Current
Year.
Year.
Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
d Includes Durham Light & Power Co., beginning Nov. 1
a
n
Charges and Surplus.
-Inf., Rentals, Ac.—
Current
Year.
Roads.
Previous
Year.
$
—Bal. oj
Current
Year.
$
Net E'ngs.—
Previous
Year
5
39,970
122,202
Oct
23,748
257,931
27,471
279,332
3
52,471
144,947
Nov
61,373
316,769
G4.209
316,152
18,161
80,762
6,052
49,474
Portland (Or) Ry, Lt & P Nov
151,217
Jan 1 to Nov 30
1,550,411
125,019
1,363,227
125,155
1,343,548
111,712
1,007,910
Dallas Electric Corp
Jan 1 to Oct 31
Norf & Porstm Trac
July 1 to Nov 30
x
;
GENERAL
INVbbl MhN 1
TXXXXI
i
.
injs.
.*
WS:
RAILROADS, INCLUDING ELECTRIC ROADS.
Alabama Great Southern RR.—Dividend Increased.—A
dividend of 2^% has been declared on the $7,830,000
common
stock, payable Dec. 30 to holders of record Dec. 17;
also the regular semi-annual dividend of 3% on the
$3,380,350 pref. stock, payable Feb. 25 to stock of record Feb. 4.
The only previous disbursements on the common stock were
2% each in June 1910 and 1909. The Southern Ry. owns a
majority of the stock.—V. 91, p. 1156.
American Cities Railway & Light Co.—Dividend In¬
These figures represent 30% of gross earnings.
Interest
fVni,
After allowing for other income received.
creased.—A semi-annual dividend of 2% (No. 4) and an extra
dividend of 34 of 1% have been declared on the $10,761,165
common stock, payable
Jan. 2 to holders of record Dec. 20,
comparing with 1*4% hi July last, 13^% in Jan. 1910 and
1% in July 1909. The regular quarterly dividend of 1}4%
on the pref stock was also
declared, payable at the same
time.—V. 90, p. 1612.
Atchison Railway, Light & Power Co.—New Bonds.—The
company recently filed for record its new $1,500,000 mort¬
gage dated Nov. 1 1910.
The proceeds of the immediate issue of $750,000, it is said, will be used
$400,000 outstanding 7% cumulative pref. stock and $150,000 6%
bonds, and the rema:n1er for improvements and betterments. The com¬
pany
is one of the McKinley properties, and the making of the new mortgage
Is said to be the first step in the plan to connect Atchison, St.
Joseph,
to retire
ANNUAL REPORTSo
Leavenworth, Kansas City, Topeka and Wichita by interurban lines.—
V.
91, p. 1094.
Annual
Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the “Chronicle” in which
it is published.
The latest index will be found in the issue
of Nov. 26.
The next will appear in that of Dec. 31.
Boston & Maine RR.—New Stock.—The Mass. RR. Com¬
mission on Dec. 15 approved the issue of 106,637 new com¬
mon shares at $110
per share, to provide for additions to
equipment, permanent improvements and abolition of grade
crossings.—V. 90,
p.
1384, 1253.
Boston & Worcester Street
Year ending
Gross
Net
Ry.—Report.—
Interest and
Dividends
Balance,
Sept. 30— Earnings. Earnings.
Tates.
Paid.
Surplus.
1909-10
$582,884 $239,539 $170,307
*(1 H%) $30,375
$38,856
1908-09
577,511
256,417
178,953
(3%) 60,750
16,714
*
This is the dividend paid Jan. 1910; July 1909 and Jan. 1911 dividends
were deferred.
The income account of the Boston & Worcester Electric Cos. (the
holding
company) shows a total income of $55,709 in l90*-iu, against $96,505 In
1908-09; dividends paid In 190>*-10, $33,936; miscellaneous expense, $2,613;
nterest on notes, $18,000, leaving $1,160.—V. 91, p. 869.
Southern Pacific
Company.
(Report for Fiscal Year ending June 30 1910.)
On subsequent pages is given the report of the board of
directors, signed by Robert S. Lovett, Chairman of the
Executive Committee; also the comparative income account
and balance sheet for two years and other tables.
Below
Bullfrog-Goldfield RR.—Bonds Called.—Seventeen ($17,are the principal traffic statistics and
comparative income 000) 1st M. 6% bonds dated Dec. 31 1906 have been drawn
account for three years, compiled for the “Chronicle.”
for payment at 102
and interest on Jan. 1 at the Fidelity
TRAFFIC1ST A TISTICS.
Trust Co., 325 Chestnut St., Philadelphia.—V. 86, p. 1284.
1909-10. ' ^1
1908-09.
3
1907-08.
Calumet & South Chicago Ry.—Stock Increase.—See, Chi’
Average miles of road
9,752
9,626
9,505
Passenger traffic—
cago City & Connecting Rys. below.—V. 90, p. 1483.
Rail passengers carried. No
21,196,324
18,723,014
19,080,205
Rail passengers carried 1 mile__l, 644,879,342 1,366,886,364 1,452,147,456
Canton-Akron Consolidated Ry.—Bonds Offered—Earn¬
Aver, miles carried—all pass..
44.93
39.18
39.62
ings.—Claude Ashbrook, 7 E. 5th St., Cincinnati, is offering,
Aver, receipts from each pass.
$0.98
$0.86
$0.86
Aver, receipts per pass, per mile
2.188 cts.
2.185 cts
2.174 cts.
by advertisement on another page, at 87L6 and interest,
Receipts per mile main tr’k (c)
$4,554
$3,961
$4,176
6% income, $200,000 gen. M. 5% gold bonds, dated
yielding
Receipts per rev. tr. mile (a) (c)
$1.84
$1.89
$1.94
1906 and due Jan. 1933; guaranteed as to principal and in¬
Aver. No. pass, per train
77
74
79
Freight traffic—
terest by The Northern Ohio Traction & Light Co., which in
Tons carried, Incl. co’s freight..
32.750,263
28,122,443
28,998,913
1906 purchased the entire capital stock. Mr. Ashbrook says:
Tons carried 1 mile
7,972,042,808 7,213,993,420 7,845,002,515
_
_
Tons per m. of road—all fr’t (c)
Aver, miles hauled—all freight.
Freight rev. per mile main trk.(c)
Aver, received from each ton..
Av. per ton per mile—rev. fr’t-
Rec’ts per rev. tr. mile—com¬
mercial freight (5) (c)
Ton miles per rev. train mile—
all fr’t (av. tons per tr.) (6) (c)
Ton miles per traffic mile, all
fr’t (av. tons per train) (c)
Tons per loaded car m.—all fr’t(c)
816,477
749,394
824,251
243.42
256.52
270.53
$7,772
$2.97
$7,121
$3.08
$7,333
$3.11
1.162 cts.
1.154 cts.
1.097 cts.
$4.53
$4.38
$3.59
476.03
460.50
387.55
20 86
375.79
20.53
c
Based
on
403.38
»
341.92
21.43
rail lines only (ex¬
INCOME ACCO UNT.
1909-10.
Operating Revenues—
Passenger
$
40,244,856
Mail, express, &c
6,090,385
Freight
77,018,554
Revs, from oper. other than transp’n.
1,170,110
Outside operations—revenue
10,498,702
1908-09.
$
34,345.339
$
35,800,592
5,492,857
69,878,880
1,129,328
9,675,504
5,504,288
71,073,568
1,167,118
9,731,354
1907-08.
Total revenues
135,022,607 120,521,909 123,276,921
Operating Expenses—
Maintenance of way and structures.. 16,098,705
14,533,135
17,083,236
Maintenance of equipment
15,808,391
14,379,763
15,439,095
Traffic expenses.
2,481,186
2,069,940
2,160,430
Transportation expenses
35,658,046 32,846,193 37,804,201
General expenses
3,467,706
3,362,844
3,518,532
Outside operations—expenses
9,750,814
8,604,258
8,657,558
Taxes
4,519,374
3,788,242
3,950,140
Total
Net operating revenues
♦Other income
Gross corporate income
Deductions—
87,784,222
47,238,385
10,709,180
79,584,375
40,937,534
5,197,722
88,613,192
34,663,729
3,931,121
57,947,565
46,135,256
38,594,850
♦Interest, sink, fd., &c. (net)
20,706,638
♦Land dept, and Southern Pacific Co.
expenses and taxes
738,294
Additions and betterments..
511,820
Reserve for deprec’n of rolling stock.
527,595
17,568,970
17,206,987
Total
Balance for
19,255,853
26,879,402
4,992,106
22,484,347
35,463,218
„
dividends
Dividends on pref. stock (7%)
Dividends on common stock (6%)
16,359,679
DIv. paid Oct. 1 1909 on com. stk. ex¬
changed for pref. stk. and conv.
bonds between July 1 and Oct. 1 *09
878,214
Dividends on stock of proprietary
companies held by public
454
Surveys, &c__
46,322
„
Total
---
Balance, surplus...
17,284,669
18,178,549
819,071
503,848
363,964
12,344,604
264
641,716
282,952
585,455
18,717,109
19,877,741
5,240,652
11,870.956
64,462
1,092
19,027
17,401,436
9.477,966
17,131.727
2,746,014
*
For details in the years 1909-10 and
1908-09, see a subsequent page
V. 91, p. 1386, 590.
‘
.
[“Interest”
A Light Co. Jor Calendar Years 1907 to
1910 (Three Months in 1910 Estimated).
covers
Gross earnings
Net earnings
Interest on all bonds
the entire system, including Canton & Akron gen. 5s.]
1910.
1909.
$2,440,876
$2,177,641
987,584
524,065
463,519
1908.
$1,890,473
804,049
1907.
$1,909,060
813,305
513,242
300,063
1,089,691
521,066
526,532
568,625
277,517
The net earnings of Northern Ohio Traction & Light Co. are sufficient to
pay Interest on its entire bonded debt, including all Canton-Akron Ry.
nsues twice over.
The net surplus earnings of the Cleveland-Akron divi¬
sion, taken as a separate property, available for interest on the general
mortgage bonds Is twice the amount required therefor.
The total Northern Ohio Traction & Light Co. stock outstanding is
$9,000,000, on which dividends are being paid quarterly at rate of 3% per
annum.
At present quoted prices there is a market equity junior to all
bonds of $3,600,000.
Surplus
a Based on revenue passenger and all mixed train
miles, including 553,003
miles run by motor cars,
b Based on revenue freight and all mixed train
miles, but excluding locomotives helping,
cluding second track).
Earnings of Northern Ohio Traction
The stock is listed on the New York, Montreal, Toronto,
Cleveland and Cincinnati stock exchanges.—V. S3, p. 435.
Central of Georgia Ry.—Decision in Favor of Income Bond¬
holders Affirmed.—The Supreme Court of Georgia, the court
of last resort in the State, on Wednesday affirmed the de¬
cision of the Superior Court, which sustained the
findings of
the master, Colonel William Garrard, filed on May 31 1909,
holding that the
company is compelled to pay the full 5%
interest on the second and third as well as the first
prefer¬
ence incomes out of the
earnings of the fiscal year ending
June 30 1907.
Compare V, 88, p. 1436; V. 89, p. 592.
No appeal from the decision, it is understood, will be taken.
A similar
suit is pending to recover the full 5% interest on all three classes of bonds
from the earnings of the year 1907-08.
No distributions on any of the three
classes were made from the earnings of the year 1907-08 or those of the later
two years.
The decision will of course act as a precedent in determining
the rights of the bondholders to receive payments from the earnings of the
later years.
The bondholders’ committee has taken the necessary steps
to protect their rights in the matter.
Death
15.—V.
of President.—-President J. F. Hanson died on Dec.
p. 527, 516, 396.
Chattanooga Southern RR.—New Company to Be Formed.
—It is proposed to form a new company to be called the
Tennessee Alabama & Georgia RR., which will take over
the Chattanooga Southern and issue its bonds to pay for the
proposed new mileage of 27 miles, from Rome to Rockmart,
to connect at the latter point with the Seaboard Air Line
and also to build the eight miles to connect with the
This new construction will
Rome & Northern.
give the
Chattanooga Southern, via the Seaboard Line from Rockmart, a through line from Chattanooga to Atlanta.—V. 91,
p. 336, 214.
91,
Chesapeake Beach Ry.—Suit.—David H. Moffat of Den¬
Colo., who owns nearly all the stock and bonds of the
ver,
THE CHRONICLE
W—
■
■—
•
1639
—■M——»PM—«——M>*———A———^———i■■'
i
171910.|
I
Deo.
— m. « ■
——1■
road, has brought suit before Judge Morris in the Federal
Court at Baltimore to recover $964,215.
The Commission on July CO sanctioned the issue of $489,539 4% consols
of|1904 at 80. but the company was unable to sell the bonds. Compare
V. 91. p. 336.
r
A judgment was secured several years ago in the
District of Columbia, and that Court; It Is stated,
entered at Baltimore.
Compare V. 91, P. 974, 203.
Supreme Court of the
Cumberland Railway & Coal Co., Nova Scotia.—Change
in Control.—The Canadian papers state that the Dominion
Chesapeake & Ohio Ry.—Listed.—The New York Stock
Exchange has listed $31,000 additional Coal River Ry. 1st
M. 4% bonds due 1945, with authority to add $890,000 ad¬
ditional bonds on notice of sale, making the total amount
to be listed $2,971,000.
Steel Corporation (or interests identified therewith) acquired
this property through the purchase of the $979,000 6%
bonds at 120, paid for in Dom. Steel 5% bonds, and the
directed that suit be
The proceeds of 960,000 bonds (Including the $31,000 above men
tloned and $29,000 which have been canceled by the sinking fund) have
been used to pay part of the cost of a 7-mile extension of the Big Coal River
branch and a 3-mile extension of the Little Coal River branch.
Earnings.—For 3 months ending Sept. 30:
Three
Oper.
Months. Revenues.
1910
$8,LX6,372
1909 --S- 7,7fr4,876
Net
(after
Taxes).
Other
Income.
Fixed
Charges.
Divs.
Balance,
(1)4%)
Surp.
$2,884,206 $346,199 $2,011,177 $784,888 $434,340
3,019,835
---
Purchase.—See Kanawha Bridge & Terminal Co. below.—
V. 91, p. 1574,
1159.
,
$2,000,000 common stock for $600,000 Steel common stock,
which has a present market value of about $360,000.
“Monetary Times,” Toronto, Dec. 10, said:
The company was incorp.
& Parrsboro Coal & Ry. and
in 1883, being a consolidation of the Springhil
the Springhill Mining Co. The road runs from
Sprlnghill Junction to Parrsboro, N. S.. 32 miles, with sidings of 16 miles.
The earnings for the year ended June 30 1909 were, gross, $104,238; oper¬
ating expenses, $50,915; net earnings, $53,323.
The company owns large
coal areas, and, although the output at Springhill Is comparatively small,
the sinking of new shafts would enable the company to produce as much aa
2,000,000 tons a year.
In addition, the Dominion Iron (c Steel Co. will
acquire a large tract of timber land in Cumberland County estimated to
be worth about $1,000,000.
Besides the railroad, the company has ex¬
clusive shipping piers at Parrsboro and a fleet of tugs and ocean barges for
coal carrying.—V. 91, p. 1576, 94.
Delaware Lackawanna & Western RR.—Stock Increase
by
Chicago City & Connecting Rys.—Stock Increase by Con¬
stituent Companies.—The Calumet & South Chicago Ry. on Subsidiary.—The New Jersey Board of Railroad Commis¬
Dec. 14 certified to an increase in capital stock from $5,000,- sioners on Nov. 24 approved the application of the Newark
& Bloomfield RR., operated under lease, to issue $1,496,150
000 to $10,000,000 and the Southern Street Ry. from $800,additional stock for cash at not less than par, for improve¬
000 to $2,400,000.
page
22
“Electric
See
of
Railway Sec¬
ments.
Compare V. 91, p. 716, 154.
tion.’’—V. 90, p. 1675, 848.
Denver & Inter-Mountain RR.—Control.—A report filed
Chicago City Ry.—Extra Dividend.—The directors have
declared the regular quarterly dividend of 2^% (the rate by the company with the Colorado Railroad Commission
paid since March last) on the $18,000,000 stock; also an .shows that the company is controlled by the Denver Realty
extra dividend of 2% out of surplus, both payable Dec. 30 Co., of which William G. Evans, F. G. Moffat and J. A.
to holders of record Dec. 16.
Compare annual report, Beeler are directors. The same interests control the Den¬
ver City Tramway.
Compare V. 90, p. 1675.
V. 90, p. 767, 625.—V. 90, p. 771.
Florida East Coast Ry.—Extension.—An officer of the
Chicago Consolidated Traction Co.—Transfer of Bonds
Ordered.—Judge Cutting in the Probate Court at Chicago on company confirms the report that it is proposed to build
from Maytown to Whittier, and thence to Lake Okeechobee
Dec. 16 authorized Louis S. Owsley, executor of the Chas. T.
in
the Everglades, with a branch line to Fort Bassinger, on
Yerkes estate, to transfer the underlying bonds of the
Kissimmee River, a total of 135 miles of road, to be
the
Consolidated Traction Co. system held by the estate to the
completed
within the next three years at a cost of $1,500,000
Chicago Railways Co. in exchange for new securities, under
the terms of the agreement dated Nov. 1 1910 between or more.—V. 91, p. 1508, 1446.
Hudson & Manhattan RR.—Neiv Subway Offer With¬
Andrew Cooke and the Harris Trust & Savings Bank of
Chicago, as depositary. The Chicago Railways was the only drawn.—President William G. McAdoo having previously
set Dec. 15 as the limit of time for action by the city au¬
bidder for the oonds.
Time to put in bids expired Dec. 15.
thorities on the company’s offer of Nov. 18 to operate new
By arrangement made by the executor, the purchaser of said securities
will have the right to deposit the same under the terms of the said agree¬
subways and pay part of the cost (V. 91, p. 1574), on Thurs¬
ment, and to receive in exchange therefor new bonds of the Chicago Rail¬
day formally withdrew the Same.
ways Co. In accordance with said agreement, provided said securities are
deposited
on or
before Dec. 22.—V. 91, p. 1511, 1384.
Ohicago Railways.—See Chicago Consolidated Traction
1385, 1160.
Ghic&go Rock Island & Pacific Ry.—Sgle of Bonds.—It
was announced on Dec. 12 that Speyer & Co. had purchased
from the company $3,750,000 “first and refunding” mortgage
4% bonds, due 1934, issued for improvement and other cor¬
porate purposes, and had privately re-sold the entire amount.
above.—V. 91, p.
Purposes for which the $3,830,000 “First and Refunding” Mortgage Bonds
were
Issued.
Under section 3 of article 1 of the mortgage
$330,000
Under sec. 4 of art. 1 of the mortgage against an equal amount of
gen. mtge. 4% gold bonds of C. R. I. & P. Ry. Co. issued for
additions and improvements and pledged under ‘ tlrst and re¬
funding" mortgage
1,000,000
Under sec. 6 of art. 1 of mortgage against additions and improv’ts 2,500,000
Merger of Subsidiary.—The stockholders on Dec. 15 rati¬
& El Paso Ry.
fied the merger of the Chicago Rock Island
—V. 91, p. 1181, 1154, 1095.
Cincinnati Bluffton & Chicago RR.—Sale
March 15.—The
Dec. 5 ordered the sale of
Upset price, $800,000.
Huntington (Ind.) Circuit Court
the road
on
March 15 1911.
on
preferred claims, we are Informed,
outstanding as collateral Is
they take preference, according to law, after
ceivers’ Indebtedness, the general claims will
proceeds of sale.—V. 91, p. 1385.
The
amount ol bonds
Columbus
amount to $260,000. The
stated as $1,500,000, and as
the preferred claims and re¬
not participate in any of the
(O.) Marion & Bucyrus (Electric) RR.—To
End Receivership.—The stockholders will
when it is expected steps will be taken to
meet Dec. 31,
at once end the
receivership.—Y. 91, p. 1574.
Columbus (O.) Mt. Vernon & Mansfield Traction Co.—See
Columbus New Albany & Johnstown Traction Co. below.
New Albany & Johnstown Traction Co.—
Extensions.—Arrangements, it is said, are being made
by the, new interests which recently obtained control to
Columbus (O.)
finance the extension from Gahanna to Johnstown and later
to Mt. Vernon and Mansfield, where connection will be made
with the Cleveland Southwestern & Columbus Ry., giving a
through electric line from Columbus to Cleveland.
Columbus Mt.
Vernon
&
The
Mansfield Traction Co. was in¬
corporated on July 13 last with $10,000 (nominal) capital
stock, to be increased later to $2,000,000, to take over the
company and build the extensions.
The new company was
also to make a $2,000,000 bond issue.
The incorporators
were J. W. Lehman, J. M. Adams, David Lehman, Thomas
W. Varley and George W. Rhoades.—V. 91, p. 1160.
Concord & Montreal RR.—Maturing Bonds.—The $500,000 B. C. & M. 6% bonds of 1881, due Jan. 1 1911, will be
paid, principal and interest, on Jan. 2 at the Boston Safe
Deposit & Trust Co., trustee.—V. 90, p. 1025, 54.
Coney Island & Brooklyn RR.—Application to Issue Notes.
-—The company has applied to the Public Service Commis¬
sion, First District, for authority to issue $500,000 6%
3-year notes, redeemable at 101. The holders are to have
the option of taking in exchange bonds which are to be issued
tojsecure them to the amount of $625,000 at 85.
Mr. McAdoo in his letter says:
“Upon mature consideration of the
matter we have become convinced that It Is futile for us to attempt to unite
with the city authorities in an effort to provide an independent system
unless the city authorities are fully determined that an independent system
is wanted for the city."—V. 91, p. 1574, 1253.
Interborough Rapid Transit Co.—New Financial Plan.—
The draft of the new financial plan which is ready for sub¬
mission to the Public Service Commission as soon as the
board approves the subway plans submitted by the com¬
(V. 91, p. 1574), provides, it is stated, for a new
for the authorized amount of $150,000,000,
covering all present and future property , issuable as follows:
pany
mortgage
For additional subway
Extensions of elevated roads and third-tracking
Retirement of outstanding 1st M. bonds, callable
not less than $1,000,000 at 105 and Interest
Redemption of outstanding notes
Remainder for general purposes
—V. 91, p, 1574, 1385.
$75,000,000*
32,000.000
In blocks of
. _ _
35,000,000
4,584,000
3,416,000
Interstate
RR., Virginia.—New Stock.—This company
Richmond, Va., on Dec. 8 a certificate increasing its
capital stock from $1,000,000 to $1,500,000.
filed at
The main line extends from Norton up to Stonega, 15.95 miles long;
branches, Mud Lick Junction to Roda, 3.3 miles, and Arro Junction to
Arro, 1.11 miles. The company Is controlled by the Virginia Coal & Iron
Co.
See Stonega Coke & Cfoal Co. in V. 91, p. 1333.
Kanawha
Bridge & Terminal Co.—Sold.—The Chesapeake
Co. has purchased the entire capital stock and
the property, which consists of approaches and
bridge across the Great Kanawha River near Charleston,
W. Va., used for railroad, street railway and general traffic.
& Ohio Ry.
will operate
There are outstanding $500,000 1st M. 5% bonds on the property and
$400,000 capital stock.
The bonds were largely placed In this city by
Montgomery, Clothier & Tyler and William C. Sproul. The Fidelity Trust
Co. of this city is trustee of the mortgage.
It is understood that the
Chesapeake
&
Ohio
Ry.
Co.
having
acquired the
capital stock
will
make large expenditures on the property, thus enhancing the value of the
1st M. bonds.
The bridge Is the only entrance the Chesapeake & Ohio
has into the city of Charleston and connects the main lines on the south side
of the river with the Kanawha & Michigan, Kanawha & West Virginia,
Coal & Coke Ry. and Hocking Valley Ry. Co.
Bonds dated April 1 1908, due April 1 1948, but callable on.and after
April 1 1916 at 105 and int.
Par $1,000.
Mortgage limited to $500,000.
Sinking fund $3,000 yearly on April 1 1913 to 1917; $5,000 yearly 1918 to
1927; $7,500 yearly 1928 to 1937; $10,000 yearly 1938 to 1947.
Company
incorp. In West Virginia in 1907. C. & O. does not guarantee the bonds.
Kansas City Street Railway & Light Co.—Called Bonds.—
Fifty ($50,000) first mortgage 5% bonds of the Corrigan
Consolidated Street Ry. dated 1886 have been drawn for
redemption on Jan. 1 1911 at 110 at the Central Trust Co.,
New York City, trustee.—V. 91, p. 871, 790.
Lehigh Valley Transit Co.—Report.—For year ending
Nov. 30, as
reported in the daily papers.
Total
Net
Fixed
Balance,
Income. Earnings. Charges. Surplus.
$1,209,677
$647,333
$436,872
$210,461
$1,042,969 $166,708
956,888
114,573
1,071,461
523,290
416,646
106,644
1574, 1328.
Passenger
Receipts.
Fiscal
Year—
1909-10
1908-09
—V. 91, p.
Other
Income.
Market Street Elevated Passenger Ry.—Proposed Change
of Ownership.—See Phila. Rap. Tr. Co. below.—V. 86, p.547.
Maryland Delaware & Virginia Ry.—Extension of Trust.—
The managers of the large block of pref. stock, which is
held in
a
pool expiring Jan. 2, consisting of John F. Williams
(Chairman), John S. Gittings and Douglas H. Gordon,
are
1630
THE CHRONICLE
considering the advisability of requesting the owners to
extend the agreement.
The Pennsylvania RR. and its sub¬
sidiaries own all the $1,500,000 common and about $300,000
of the $1,500,000 preferred stock, the latter
being held in
the voting trust.—-V. 89, p. 593.
(Ferrocarril) Mexicano del Centro RR.—Additional Bonds
Offered in Paris.—This company, 27,000 of whose 5% bonds
of 100 piastres each were brought out in Paris last July, is
now
placing,at 232 fr.50c.,an additional 12,000 bonds of the
same issue, carrying
the same guaranty. Compare V. 91,
p.
215.
The $4,000,000 notes will be secured bythe same collateral as Is now
pledged for the total $5,000,000 issue, viz.: $6,250,000 Minnesota Dakota
& Pacific Ry. 1st M. bonds, being all the bonds issued In
respect of 229.60
miles of railway, on which said bonds are a first mortgage, and all the
stock.
The Indenture will provide that the company shall
deposit any
additional Minnesota Dakota & Pacific Ry. Co. bonds and stock which
may be issued during the life of said notes.
Speyer & Co., 24-26 Pine St., N. Y., on behalf of the
company, will accept deposit of the old notes on or before
Jan. 5 1911, ex Feb. 1 1911 coupons,
and will make holders
a cash payment of $25 in
respect of each $1,000 note ex¬
tended.
The extension privilege must be availed of on or
before Jan. 5 next, and the right is reserved to withdraw the
offer at any time.
Temporary receipts will be issued for
notes deposited, exchangeable for the new notes on or about
Feb. 1 1911, when the payment of $25 per
$1,000 note will
be made. Notes not deposited for extension will be
paid at
maturity at the Central Trust Co. of N. Y.
The extension of the $4,000,000 notes has been under¬
written by Speyer & Co. and the National
City Bank of
New York.—V. 91, p. 1508, 1096.
Missouri Kansas & Texas Ry.—Proposed Lease or Pur¬
chase of Texas Central.—The M. K. & T.
Ry. of Texas and
the Texas Central RR. give notice by
advertisement that
during the next session of the Texas Legislature, to convene
at Austin on Jan. 10 next,
they will apply for the passage of
a special law for the
following purposes:
To authorize the M. K. & T. Ry. of Texas to lease for a
term of not less
than 25 years the Texas Central RR. and its branches and
extensions3
constructed or to be constructed, and to at any time
during the lease pur¬
chase, own, operate and maintain the same as a part of Its line, and
to
complete and extend the same as contemplated and provided In the charter
Of the Texas Central RR., with the right to make such other
extensions
and construct such branches as may be hereafter
authorized by amendment
of its charter under the general laws of the State of
Texas, and vesting said
companies with the power to make all necessary contracts and agreements
to effect said lease, purchase and
sale; and authorizing the said M. K. & T.
Ry. of Texas to assume the payment of the bonds and other indebtedness
of the said Texas Central RR. Co., and to
purchase the outstanding stock
of the Texas Central and exchange its own stocks and
bonds for the stocks
and bonds of that company, or to substitute its own
bonds, under the laws
of Texas and subject to the approval of the Texas
Railroad Commission,
in lieu thereof, and prescribing the terms and
conditions upon which said
lease, purchase and sale may be made.—V. 91, p. 1254, 1160.
Mt.
in the
Airy & Eastern Ry.—Sale Confirmed.—Judge Boyd
bankruptcy court at Greensboro, N. C., on Dec. 13
confirmed the recent sale for $20,000 of this 12-mile road.
A lumber company, it is said, was the
real purchaser.
Unsecured creditors
opposed confirmation, claiming the road cost nearly
on it was worth more than the
purchase price.
The receiver stated that the road had been advertised
twice before with no
bidders; that It was being operated at a great loss, and unless the sale
was
confirmed, running expenses and costs of receivership, <Sec., would
practi¬
cally wipe out all assets.—V. 91, p. 1447, 397.
$200,000, and the iron
Newark & Bloomfield RR.—Increase
of Stock Authorized.—
See Delaware Lackawanna & Western RR. above.
New York Central Lines.—Listed.—The New York
Stock
Exchange has listed Guaranty Trust Co. certificates for $30,000,000 equipment trust of 1910 bearing interest at 4H%.
(V. 90,
p.
1677; V. 91,
p.
1447.)—V. 91, p. 1447.
New York Westchester & Boston
Ry.—Proposed Traffic
Agreements with Intqrborough.—President Shonts of the Interborough Rapid Transit Co. recently admitted that negotia¬
tions are pending for a traffic
agreement with the company
which are dependent upon the former
being granted au¬
thority to extend its elevated road in the Bronx from the
West Farms division of the present
subway at about 179th
St. (see V. 91, p. 1574).
The agreement will provide for the
exchange of passengers at a point
In the Bronx to be fixed,and enable the
company to deliver its passengers
to any part of Manhattan
they may desire to go.—V.
91, p. 1161, 337.
Norfolk & Portsmouth Traction
Co.—Preferred Dividend,
&c.—The directors on Dec. 15 declared a
quarterly dividend
of 1 }i%) payable Jan. 10 1911 on
pref. stock of record
Dec. 28 1910.
See earnings for 5 months
ending Nov. 30
1910 among “Electric
Railway Net Earnings” before “An¬
nual
Reports.”
Of the $3,000,000 new pref. stock
created under plan of Chandler Bros.
& Co. of Phila. and
Mlddendorf, Williams & Co. of Baltimore, $2,800,000
has been subscribed for
by the stockholders.
Under this plan, $1,700,000
Is paid into the treasury
by the subscribers, without any increase in the
total capitalization or the
issuing of any more bonds.
Over $1,200,000 of
this amount has already been
paid in, with which the entire floating debt
has been liquidated.
The $897,000 convertible notes due March 1 1911
and 1912 have all been purchased and
retired, with the exception of $43,000,
which have been called for payment March 1
1911.
The consummation of this plan leaves the
company free of floating debt
and with a fund of about
$400,000 available for the further corporate
purposes of the
company.
®ntire Issue of $3,000,000 N. &. P.
common stock Is listed on the
Phila. Stock Exchange and $2,133,600 of the
pref. as of Dec. 5 1910.
The
remainder of the preferred will be listed as it Is
paid for and issued. Com¬
pare V. 90. p. 1425, 1614.—V.191, p. »4, 1328.
„
i
^
LXXXXI
Norfolk & Southern Ry.—Appeal.—The
Supreme Court
Virginia on Dec. 13 allowed an appeal to the Zell-Van Dyke
syndicate of Philadelphia from the decision of the lower
State Court in its fourth
attempt to enforce an
of
alleged con
tract of sale by the
reorganization committee. The syndi¬
cate failed in its efforts in the Federal courts.—V.
p.
91,
1447, 1026.
Northern Central Ry.—Stock Increase.—A certificate has
been filed increasing the
capital stock from $20,000,000,
the former authorized
named amount
Minneapolis & St. Louis RR.—Note Extension.—Notice is
given by advertisement on another page that the company
has decided to pay off at maturity $1,000,000 of its
$5,000,000 5% gold notes due Feb. 1 1911, and offers to extend
the remaining $4,000,000 notes to Feb. 1 1913 at
5% per
annum, payable semi-annually Feb. 1 and Aug. 1.
The
new notes are to be
subject to redemption at par and int.
on sixty days’ notice.
[VOL.
amount, to $27,737,050, the lastincluding the $7,737,050 stock issuable as a
40% stock dividend
on
under the terms of the
the $19,342,550 outstanding stock
lease ratified by the stockholders
new
Nov. 2 last.—V. 91, p. 1512, 1254.
Oakland (Cal.) Traction Co.—Mr. Havens Retires.—Frank
C. Havens, Treasurer of the
company, has sold his interests
in the Oakland Traction
Co.,
Realty Syndicate and San
Francisco Oakland & San Jose Ry. (the
Key Route)
his former associate, Frank M. Smith
(known as “Borax
to
King”).
Mr.
Havens will devote himself to his other
Interests, principally the
People’s Water Co.—V. 91, p. 1512, 1331.
Old Colony Street Ry.—Bonds
Norfolk Suburban Street Ry. 1st M.
Called.—Eight ($4,000)
5% bonds, issued under
the mtge. dated July 2 1894 and 5
($2,500) Norfolk Central
Street Ry. 1st M. 5s issued under
mtge. dated July 1 1898,
have been called for payment at 103 and int. on Jan. 2 at
the International Trust
Co., 45 Milk St., Boston, trustee.—
V. 88, p. 1373.
Oregon-Washington RR.
& Navigation Co.—Possession
Dec. 24.—Announcement is made that the
company will on
Dec. 24 take over the properties of the
Oregon RR. & Navi¬
gation Co., North Coast RR. and associated lines mentioned
in V. 91, p. 1512, 1447.
The permanent officers will be
announced later.—V. 91, p. 1512, 1447.
Pacific Gas & Electric Co.—Acquisition.—The
it is
company,
announced, has acquired the Monterey County Gas &
Electric Co.
It is Intended to extend the Monterey
trolley line (Monterey & Pacific
Grove Ry., V. 87, p. 1089) to Salinas, 20 miles, work to be commenced
at
The Monterey line, it is stated, will be reconstructed with a double
broad-gauge track from Pacific Grove through Monterey to Del Monte, and
will be equipped with the most modern
rolling stock.—V. 91, p. 519, 215.
once.
Philadelphia Rapid Transit Co.—Pres. Kruger’s Reply to
Stotesbury.—In his formal reply to the letter of E. T.
Stotesbury, who in October last agreed, under certain con¬
Mr.
ditions, to become managing director (V. 91, p.
President Charles O. Kruger said in substance:
1161).
We understand that Thomas E. Mitten, of Chicago, upon whose
practical
advice in street railway matters you are relying, has recommended to
you
that a property of this size should have available each year for new
capital
requirements from $1,500,000 to $2,000,000, and that he has further advised
you that, in his opinion,
for a period of five years,
if this property can be financed along these lines
it should then be in position to raise any additional
capital It may need upon its own credit.
It is proposed, therefore, to make an Issue of $10,000,000 of bonds
running for the life of the city contract and carrying a sinking fund, the
principal and interest of which bonds will be guaranteed by the Union
Traction Co.; the bonds to be secured by a pledge of the
equity in the
Market St.
Elevated Passenger Ry. Co. over and above the present
$10,000,000 mortgage upon said property.
This equity to-day is repre¬
sented partly by [$2,800,000] stock and partly by due bills for actual cash
advances for the construction and equipment of said road by the
Rapid
Transit Co.
Additional stock will be issued to take up these due bills, so
that the collateral back of this loan will be the entire capital stock of the
Market St. Elevated Passenger Ry. Co., all of which will represent, dollar
for dollar, the cash paid in, and which will be
subject only to the $10,000,000
mortgage bond issue now on said property (V. 86, p. 547).
We may say In passing that we had already pledged our equity In this
road with the Union Traction Co., and the Union Traction Co. directors
are only willing to recommend this
plan of financing, provided there is
made over to them absolutely the ownership of this road, subject to pledge
for the new loan, the Rapid Transit Co. retaining its Interest as lessee with¬
out additional fixed charges for the balance of the
999-year term of its
Union Traction lease.
We construe your second condition to mean that no part of the proceeds
of the $10,000,000 of bonds thus provided for the
capital needs of the
company shall be used to meet the operating expenses, interest and rentals
of the Rapid Transit Co., but the whole of the said fund shall be reserved
for future Improvements and the refunding of accruing
capital obligations
where the same may be necessary.
And we understand that you would
require that there should go back into the property each year for main¬
tenance and renewal of property an amount equal to 15% of its gross
receipts, which is about 3% more than is now being appropriated for this
purpose.
We have had a careful estimate made of the condition of our
treasury,
which shows that the company has now available working capital to meet
any future deficits or contingencies of from $1,500,000 to $2,000,000.
We
believe that the existence of such a fund is a sufficient guaranty, that no
part of the new capital would have to be drawn on for operation, main¬
tenance, interest or rentals. We would be glad to have your experts make
an examination of our books, and, if you agree with us that these resources
are sufficient to meet these requirements, we will,
upon receiving your
assent, proceed to call together the stockholders of the two companies for
final action, and also bring the matter to the attention of City Councils and
request their assent to the plan.
See also V. 91, p. 1386, 1574.
Further Particulars from “Philadelphia Ledger” of Dec. 9.
Every equity owned by the Rapid Transit Co. will be surrendered to the
Union Traction Co. on the consummation of E. T. Stoteshury’s
plan for
financing
the
first-named
corporation
on
the
underlying
institution’s
guaranty.
In addition to the holdings of the Rapid Transit Co. in the
Market Street elevated road, the Union Traction Co. will obtain the equities
in the Doylestown & Willow Grove line, represented by 20,000
shares;
Darby & Yeadon line, represented by 200 shares; Chester & Philadelphia
Ry. Co., to be represented eventually by 51% of the stock, and the Darby
Media & Chester line, represented by a leasehold.
The Glenslde-Willow
Grove line is mentioned as being included in the agreement, but it is ex¬
Traction
plained that the Union
Co. already has possession of it.
[‘‘Phila.
Press” on Dec. 10 said that a movement Is on foot to tie up the stock of the
Rapid Transit Co. in a voting trust for a period of five years.—Ed.]
Mr. Stotesbury Accepts
has written to President
Directorship.—E. T. Stotesbury
Kruger accepting the proffered
directorship and indorsing the recent action of directors of
both the company and of the Union Traction Co. relative
to the proposed new financing.—V. 91,
p. 1574, 1386.
Reading Co.—Listed—-The New York Stock Exchange
has listed $4,110,000 additional general M.
4% bonds, due
1997, making the total amount listed to date $79,812,000.
Of the $4,110,000 bonds $2,610,000 have been issued to
retire an equal
amount of underlying bonds and ground rents, viz.:
$30,000 10-year sinking
fund bonds of 1892, $35,000 Phila. & Reading RR ground rents
and bonds
Deo. 17 1910.,
and $2,545,000 “prior mortgage”
THE CHRONICLE
bonds, and the remaining $1,500,000 for
acquisitions and betterments.—V. 01, p. 1248, 793, 785.
St. Louis Southwestern Ry.—Legislation Asked.—The
St. Louis Southwestern Ry. of Texas gives notice by adver¬
tisement that at the next session of the Texas Legislature it
will
request the passage of
company as
a
special law authorizing the
follows:
To purchase, consolidate or lease the Stephenvllle North & South Texas
Ry. and Eastern Texas RR. and to extend the same as may be provided
by their charters or amendments thereof, and to purchase and retire, guar¬
antee or assume their bonded debts.
Compare V. 90, p. 1045; V. 91, p.
397.—V. 91, p. 1575. 942.
Sandusky (O.) Norwalk ft Mansfield (Electric) Ry.—
Suit.—Judge Killits in the Federal Court at Toledo on Dec. 10,
on application of the Guarantee Title & Trust Co. of Pitts¬
burgh, granted an order to show cause, returnable Dec. 28,
why a receiver should not be appointed.
A temporary restraining order was Issued preventing the company from
disposing of the company’s property until the hearing.—V. 88, p. 189.
Southern Pacific Co.—Report.—See “Annual Reports.”
Listed.—The N. Y. Stock Exchange has listed $15,000,000
San Francisco Terminal 1st M. 4% bonds, due 1950, with
authority to add $4,000,000 additional bonds on notice of
sale, making the total to be listed $19,000,000. See bond
offering, V. 90, p. 1678.—V. 91, p. 1386, 590, 393.
Southern Ry.—Called Bonds.—Charlottesville & Rapidan
RR. bonds aggregating $27,700 will be paid at the Phila¬
delphia Trust, Safe Deposit & Insurance Co., Phila., Pa.,
on
1631
ties had to be replaced and the track straightened and ballasted.
The
road has been steadily increasing Its business and profits, and if the plan
proposed (below) is accepted, I feel certain that the company will earn and
pay the full amount of Interest it will be called upon to meet In the future*
Outline of Committee's Plan, Dated Nov. 1 1910.
Upon the receipt of all of the outstanding bonds, the depository shall at
the direction of the committee remove therefrom the coupons dated
Deo. 1 1910 and June 1 1911 and cancel them; and shall stamp upon the
coupons for the four years immediately following June 1 1911 (up to and
Including the coupons due June 1 1915) a reduction of the amount of Inter¬
est to be paid on same from 5% to 4%.
In lieu of the coupons so canceled
and for the 1% reduction for the four years to and including June 1 1915,
this reduction, amounting In all to 9% of the face value of the bonds de¬
posited, there shall be Issued
a
certificate that “bears no interest and is
payable only at the discretion of the board of directors of the company, but
is payable before any dividend is declared or paid upon any of the stock.”
Upon the failure of some of the bondholders to deposit their bonds with
coupons attached, the committee shall proceed to foreclose said mortgage,
because of the non-payment of the Interest due Dec. 1 1910. or make a sale
of the property in the manner provided by said mortgage.
[Mention
was
made last week of the call for deposit of bonds with the
See V. 91, p. 1575.
Girard Trust Co., Phila.—Ed.]
West End Street Ry., Boston.—Sale of Stock.—The 1,049
shares of common stock sold by the company at auction on
Dec. 14 were bid in as follows:
974 shares at 89^ by W. A.
Read & Co. and 75 shares at 90 to 90by Collier Spalding
(50 at 903^, 25 at 90), the price in each case including
1—73c. a share.
Compare V. 91,
p. 1575, 1513.
West Side Belt RR., Pittsburgh.—Receivers’ Certificates
Authorized.—See Wabash-Pittsburgh Terminal Ry. above.
—V. 91, p. 1575, 947.
accrued int. from Oct.
Jan. 1 1911.
Increased Income from Stock Owned.—See Alabama Great
Southern RR. above.—V. 91, p. 1096, 1034*
Southern Street, Ry.,
Chicago.—Stock Increase.—See Chi¬
City & Connecting Rys. above.—V. 90, p. 54.
Texas Central RR.—Proposed Lease or Sale.—See Missour
Kansas & Texas Ry. above.—V. 91, p. 1255, 1162.
Tonopah ft Goldfield RR.—Called Bonds.—Seventy-seven
($77,000) 1st M. 6% bonds of 1906 have been called for pay¬
cago
ment
on
Jan. 1 1911 at the Land Title & Trust Co. of Phila¬
delphia, trustee.—V. 91, p. 1245.
United Rys. ft Electric Co., Baltimore.—Contract Off.—
The company, acting on the recommendation of Engineer
Stillwell, it seems, decided some time ago not to avail of the
agreement entered into June 28 1907 with the McCall Ferry
Power Co. (now the Pennsylvania Water & Power Co.) for
10,000 k. w. of current to be generated at the McCall’s Ferry
dam.
Compare V. 86, p. 1096; V. 88, p. 1123; V. 90,
p. 1360.—V. 91, p. 1386, 39.
Wabash-Pittsburgh Terminal Ry.—Listed.—The New
York Stock Exchange has listed $593,000 Columbia Trust
Co. of New York certificates of deposit for 1st M. 4% bonds
deposited with the Chaplin committee and $5,758,000
Columbia Trust Co. certificates of deposit for Central Trust
Co. of New York certificates of deposit for 1st M. 4% bonds
originally deposited with the Wallace committee, with au¬
thority to add $17,285,000 additional of said certificates of
deposit on official notice of deposit of bonds and Central
Trust Co. of N. Y. committee certificates of deposit for
said bonds, making the total amount authorized to be listed
$23,636,000.
Extension of Time for Deposits.—Notice is given by the
Chaplin committee, by advertisement on another page, to
the holders of 4% 1st M. bonds and certificates of deposit of
the Central Trust Co. of N. Y., representing these bonds, that
the time for deposit of bonds and certificates of deposit with
the Columbia Trust Co., 135 Broadway, N. Y., has been
extended to and including Jan. 16 1911.
After that date no
deposits will be received except in the discretion of the com¬
mittee and under such penalties as it may impose.
West Side Belt Receivers’ Certificates Authorized.—Judge
Orr in the Federal Court at Pittsburgh on Dec. 14 authorized
the receivers to issue $2,000,000 receivers’ certificates of the
West Side Belt RR. to purchase 2,000 freight cars for
that road.
Goal oars will, it is said, be built as soon as contracts can be let and be
ready to be placed in commission when the coal-carrying traffic is resumed
next year on the Great Lakes.—V. 91, p. 1575, 1513.
Washington Baltimore ft Annapolis Electric Ry.—Right to
Subscribe.—A circular has been issued giving particulars
regarding the right of the 2d M. bondholders and stockholders
of record on the books of the depositories on Dec. 16 to sub¬
scribe at par under the plan (V. 91, p. 1386 for an amount
of the underwriting of the new pref. stock equal to 10% of
their respective holdings (or 8% in case of stock if more
than 86% of holders subscribe), with a bonus in common.
Subscriptions must be delivered to the committee on or before Dec. 18
and must be paid 25% Jan. 3, 25% Feb. 1 and 50% on or before March 1.
After Deo. 16 no deposits of stock will be received and deposits of 2d M.
bonds will be accepted only on such conditions as the committee may pre¬
scribe.—V. 91, p. 1386, 1328.
West Chester Kennett ft Wilmington
Electric Ry.—Com¬
Representing Management.—A committee was or¬
ganized by the management some weeks ago and asked the
deposit of 1st M. bonds with the Integrity Title, Ins., Tr. &
Safe Dep. Co., Philadelphia.
The
mittee
aforesaid committee consists of George Kessler, Pres.;-Clarence L.
Harper. Vice-Pres.; Philip E. Guckes, Sec. and Treas.: S. R. Dickey and
Thomas J. Budd.
Address gen. office of co., 931 Drexel Bldg., Phila.
Condensed Extracts from Circular Sent Out b\j President George Kessler.
Existing conditions render It impossible for this company to meet the
coupons due Dec. 1 1910 and June 1 1911, on its 1st M. bonds.
At the re¬
organization the road was in wretched physical condition and no funds
were provided as working capital.
The company was forced to use earn¬
ings to practically rebuild Its roadway, make minor extensions and pur¬
chase rolling stock.
Each year’s returns show a large amount expended
for maintenance, which in fact was construction, as practically all of the
•
INDUSTRIAL, GAS AND MISCELLANEOUS.
Albemarle ft Chesapeake Canal Co.—Sale Confirmed.—
The Federal Court at Norfolk, Va., on Dec. 13 confirmed the
sale of the
property to the 1st M. bondholders’ committee for
$300,000. The order gives the purchasers until Jan. 1 1911
to complete the payment of required terms of purchase.—
V. 91, p. 1329, 1027.
American Seeding Machine Co.—Dividends Resumed on
Common Stock.—A dividend of % of 1% has been declared
on the common stock (being the first since Oct. 1907),
together
with the regular 13^% on the pref. stock, both payable
Jan. 15 to holders of record Dec. 31.—V. 90, p. 1046.
American Sugar Refining Co.—Decision.—The United
States Supreme Court on Dec. 12 reversed the decision of
Judge Holt in the United States Circuit Court in this city
on Oct. 26 1909, which sustained the demurrers interposed
by Gustav E. Kissel and Thomas B. Harned, who, with a
number of directors and officers of the company, were in
July 1909 indicted in this city.
The offence charged was that of taking part in an alleged conspiracy
in restraint of trade and commerce in violation of the Sherman Anti-Trust
Law by assisting in the acquisition of the Pennsylvania Sugar Refining Co.
of Philadelphia (which was kept closed) by the American oompany.
The
lower Court sustained the plea of the defendants named that the conspiracy
charged was not continuous, and that the statute of limitations could be
pleaded in bar.
The defendants will now have to stand trial.
The prosecu¬
tion of the other defendants has been held up, it is understood, pending the
result of this appeal. The opinion by Justice Holmes holds that a conspiracy
continues up to the time of its abandonment or success; that a conspiracy
to restrain or monopolize trade by improperly excluding a competitor from
business contemplates that the conspirators will remain in business and con¬
tinue their combined efforts to drive their competitor out until they succeed.
The indictment, it is stated, charges a continuing conspiracy, and
whether it does so with technical sufficiency is not before the Court.
All
that is decided is that a conspiracy may have continuance in time and that
where,
as here, the Indictment, consistently with the other faots, alleged
that it did so continue to the date of filing, that allegation must be denied
under the general issue and not as a special plea.
Under the general Issue
all defences, including the defence that the conspiracy was ended by suc¬
cess, abandonment or otherwise more than three years before July 1 1909,
will be open and unaffected by what the Court now decides.—V. 91,
p. 1571, 1513.
American Textile Co., Pawtucket, R. I.—Status.—Bodell
& Co., Providence, R. I., who last fall placed a block of new
stock (all of one class—no bonds) said in substance:
Incorp. in 1899 under laws of R. I. by Hezaklah Conant (deceased), Ly¬
B. Goff and George M. Thornton.
The pioneer lace mill, and the
largest in America manufacturing lace for trimming purposes. Auth.
capital stock, $1,000,000.
The stockholders recently authorized an In¬
crease In the amount outstanding from $465,000 to $600,000, to
pay for’
an extension and 30 additional lace machines, practically doubling
capacity
of plant.
It is estimated that by Jan. 1 1911, when the duty will again be
placed on lace machinery, there will be not over 300 lace machines In opera¬
tion in this country, leaving the company a practically unlimited market.
The directors own control.
Every share has been paid in at $100 per
share cash or better.
The plant has now 36 machines, which have been
operated 24 hours per day for over five years. All Imported lace goods
pay a duty of 70%.
The company Is paying 8% regular dividends and
earning over 15%.
The plant is a three-story brick building of modern
mill construction, equipped with automatic fire sprinklers and modern ma¬
chinery.
Surplu end deprec. reserve over $123,000. See also V.91,p.l097.
man
Bell Telephone Co. of Penn*—Listed.—The Phila. Stock
Exchange has listed $1,600 additional capital stock issued
in exchange for the remaining outstanding 31 shares of
Penn. Tel. Co., making the total listed $59,995,400.—
V.
91, p. 36.
Burgess Mills of Pawtucket, R. I.—Bonds Called.—The
entire issue of bonds dated Feb. 5 1907 has been called for
payment at 102 and interest on Jan. 1 at the Beacon Trust
Co., 20 Milk St., Boston, trustee.
Calumet ft Arizona Mining Co.—Merger Plan.—The terms
which it is proposed to merge this company and the
on
Superior & Pittsburgh Mining Co.
were
announced by the
directors in Chicago on Dec. 5, namely, the stock of the C.&A.
to be increased from $2,500,000 ($500,000 on Dec. 31 1909
not
issued)
to $6,500,000, and about $4,286,000 thereof
to be offered in exchange for the $15,000,000 S. & P.
stock,
on the basis of 1 share for
334; par in each case $10. The
official statement says in substance:
Capital stock of Calumet & Arizona to be increased to 650,000 shares
par $10, giving authorized capital of $6,500,000.
One share of increased
stock of Calumet & Arizona to be exchanged for 3 H shares of
present
1,500,000 shares of Superior & Pittsburgh outstanding, provided a majority
of stock of Superior & Pittsburgh is deposited for
exchange before
April 1
*
1633
THE CHRONICLE
Before merger, dividends shall be declared to S. & P. stockholders equal In
Subscriptions
[Vol.
are
mm.
payablejat option of subscriber, either wholly in cash
?gpreg&te to the aggregate amount of dividends paid stockholders of C. & A. or 50% in cash and 50% by note payable July 1 1911, secured by the de¬
between August 1910 and April 1 1911.’ An estimate of the relative values
bentures subscribed for; Interest being charged at 6% per annum on all
was fixed as of date about Aug. 15
1910, and such distribution Is made for subscriptions from Dec. 15 1910 until fully paid. The engraved debentures
purpose-of equalizing relative values of date of merger April 1 1911.
wiU be ready for delivery about March 1 1911.
Ricketts of the Greene-Cananea Co. and James 5. Douglas, having
The object in
mode a thorough examination of underground workings of both companies ; short-time and issuing these debentures is to provide for the company’s
coupon notes aggregating $2,215,000.
The arrangement
and all other assets to furnish basis of relative present and future values
is. in the opinion of the directors, distinctly to the advantage of the shareof property, the boards are unanimous In recommending a merger under the
bolders in that it appears to render more probable an
early Increase in the
plan. Compare V. 91, p. 274.
dividend.
For, after the company’s notes shall have been retired, and
based on this year’s estimated
Cities Service Co.—First Dividends.—Initial dividends of reservation
profits, and on the assumption that the
out of earnings for working capital, &c., be increased to
approxi¬
on
pref. stock and % of 1% on the common stock mately $500,000 per annum, there would still remain a surplus sufficient
to
permit
of
the payment of dividends equal to 7% per annum
have been declared, both payable Jan. 1 to stock of record
on the
capital stock [$18,000,000], including the $2,000,000 reserved for the con¬
Dec. 20.
Dividends on the pref. stock will be paid hereafter version of these
debentures—Ed.] With an increase In the dividend dis¬
at the rate of % of 1% a month to stockholders of record bursement, the stock should advance and hold well above par. In which
case the conversion of the debentures
Into stock should naturally follow.
on the 20th of each preceding month.—V.
91, p. 13JO, 1225. See also V. 91, p. 1325.—V. 91, p. 1576.
lfi%
the
Acquisitions.—See Empire District Electric Co. below.—
V. 91, p. 1330, 1255.
Columbus (Ga.) Water Works Co.— U. S. Supreme Court
Holds Legal City's Right to Construct Municipal Water-Works
Plant.—See c‘Columbus” in “State and City” department.
—V. 87, p. 874.
Consolidated Gas Co., New York.—Dividend of Sub-Com¬
pany.—See Standard Gas Light Co.
New Main Under Harlem River.—A four-foot gas main,
capacity 1,000,000 cu. ft. an hour, was recently completed
under the Harlem River, greatly increasing the facilities for
supplying gas to the Bronx, with population of 430,000 and
increasing over 10% yearly.—V. 91, p. 1162, 398.
Consolidated Gas, Electric Light & Power Co., Baltimore.
—New President.—Vice-President James E. Aldred on Dec. 15
succeeded Gen. F. C. Latrobe as President;
Secretary
Gharles M. Cohn was made Vice-President and Gen. Mgr.
Schmidt, Sec. F. A. Furst, of Balt., resigned from the board.
Bonds.—The company on Nov. 15 asked the Maryland
Public Service Commission for permission to issue $224,000
additional 43^s of 1905.
Compare V. 91, p. 1251, 1093.
Consolidation Coal Co. (of Md.}, Baltimore.—Voted.—The
shareholders on Dec. 12 authorized the proposed increase in
the capital stock from $20,000,000 to $25,000,000; also the
execution of a new $40,000,000 mtge., as stated in V. 91,
p. 1514.
Crocker-Wheeler Co., Manufacturers and Electrical Engi¬
neers, Ampere, N. J.—Stock Offered.—Frank L. Scheffey,
3 Broad St., N. Y., is offering at par ($100 a share) a block
of the new 7% cum. pref. stock (total auth. issue $1,000,000,
present issue to be $510,000); and he is also trading in the
common
stock (amount outstanding about $1,700,000).
The common is quoted at 773^.
Mr. Scheffey says:
In
the spring of 1910 the stockholders authorized an increase in the capi¬
tal stock from $2,000,000 (all common) to $5,000,000, as follows: (a) Com¬
mon Stock: Authorized, $4,000,000, of which about $1,700,000 is outstand¬
ing, the balance to be held in the treasury for future needs,
(b) Preferred
Stock: A new Issue of $1,000,000 preferred, of which $510,000 was to be
offered at once to stockholders of record and balance reserved for future
requirements. The pref. shares have full voting power, are limited to
dividends of 7% per annum (cum.) and are subject to call at 108 and
accrued dividend on and after three years.
There is no bond Issue or
mortgage on the property.
The purpose of this increase was to provide additional working capital
{the company having been doing a business of between $3,000,000 and
$8,500,000 on $1,700,000 capital), and to pro vide some further mfg. facilities.
A good proportion of this $510,000 pref. was taken by the stockholders
and the proceeds applied as stated.
The new issue, although actually
strengthening the company, discouraged some of the old common stock¬
holders, and consideraple stock was pressed on the market, with a resultant
drop In price from around 95 to 100 to 70 to 77 H for the common stock,
a price not justified by conditions.
The lowest price known for common
stock, made 1907, was 70 X.
Pref. stock is quoted 95@100.
Business showed a loss in 1908 and 1909 after dividend payments which
were met from the large accumulated surplus.
[The deficit after paying divi¬
dends is reported to have been $17,294 in 1909, against $202,384 in 1908.
Ed.]
In 1910, on the other hand, business is reported as having been
very profitable.
For instance, net earnings for the 6 months ending June
30 1910 are reported as having been over $120,000, or
nearly 3 H times the
entire year’s interest charges on the preferred stock issue.
For the last
half of the year there will be a large margin over pref. stock requirements,
Indicating ample surplus for a continuation of common dividends at the
old rate of 6%. Plant and organization are at the highest point of efficiency.
Dividend Record of Common Stock (Per Cent).
1891.
1892.
1893.
1894-1906.
1907.
1908-1910.
5
8
0
6 or over yearly
8
6 yearly
Compare V. 78, p. 818, 1448; V. 79, p. 629.—V. 91, p. 156.
Cumberland Telephone & Telegraph Co.—Decision.—The
Supreme Court on Dec. 12 (Justice Day delivering the
U. S'.
majority opinion and three justices dissenting) dismissed for
want of jurisdiction the appeal from the Circuit Court of the
United States for the Western District of Tennessee in the
suit brought by the company to enjoin the enforcement of
the ordinance of the city of Memphis passed
Sept. 24 1907
regulating telephone charges.
The majority opinion
was passed
therefore an abuse
nance
holds that, while it is pleaded that the ordi¬
without authority of the State, aud its passage was
of power of the city, there was no allegation that the
ordinance was in contravention of the Fourteenth Amendment or of any
part of the Federal Constitution, and hence no Federal jurisdiction was
nvoked in such manner as to allow a direct appeal to the Federal Supreme
ourt.—V. 91, p. 97.
Derby (Conn.) Gas Co.—New Stock Offered.—Stockholders
of record Nov. 16 are offered the right to subscribe until
Dec. 29 for $150,000 new stock at par ($25),
payments to be
made in four installments of 25% each Jan. 10 and Oct. 10
1911 and May 10 and Nov. 10 1912.—V. 88,
p. 233.
Diamond Match Co., N. Y. and Chicago.—Right to Sub¬
scribe.—Shareholders of record Dec. 10 1910 have the right
to subscribe at par at the N. Y.
office, 111 Broadway, on
the company’s warrants on or before Jan. 5 for the
$2,000,000
6% 10-year convertible gold debentures (underwritten) to
an amount equal to
12^% of their respective holdings. A
circular dated Dec. 10 says in part (see also V.
91, p. 1256):
Dated Dec. 15 1910 and due Dec. 15 1920, but callable on or after Dec. 15
1915 at 102 H and int.
Par $100, $500 and $1,000 c*.
Interest payable
semi-annually at Continental & Commercial Trust & Savings Bank (trustee)
in Chicago or First Nat. Bank, N. Y.
Each debenture may, at option of
holder, be converted at par at any time on or before Dec. 15 1915, except
when the stock transfer books are closed for
meetings, into stock at par.
*
Dominion Iron & Steel Co.—Purchase.—See Cumberland
Ry. & Coal Co.
under “Railroads” above.—V. 91, p. 1028
East Ohio Gas Co.—To Cease Cleveland Service.—The com¬
pany on Dec. 12 served formal notice on Mayor Baehr of
Cleveland that it will on Jan. 17 next cease to supply artificial
gas and surrender its franchise.
President Daly says that the ordinance recently passed (V. 91, p. 1515)
providing for 75-cent gas means practical confiscation of the company’s
artificial gas plants, that the valuation of the
city’s gas expert was ridicu¬
lously low, much of the company’s property being omitted in fixing the
same, and that there is no other course lelt to the
company.
The mayor
threatens to ask for an Injunction to prevent the
off of the supply.
A resolution to provide for an election to vote on shutting
a bond issue of $4,000,000
has been introduced in the Council.—V.
91, p. 1515.
Easton (Pa.) Gas & Electric Co.—Increase of Stock.—The
company some time since increased its authorized stock
to
$2,000,000.—Y. 77,
p.
1748.
El Paso (Tex.) Gas & Electric
Co.—Earnings—Guaranteed
Notes.—See Western Gas Improvement Co., V. 91, p. 658.
—V.
90,
p.
852.
Empire District Electric Co.—Acquisition.—This company,
controlled by the Cities Service Co., has purchased the entire
capital stock of the Webb City & Carterville Gas Co. (V. 82,
p. 1046) and the Carthage Gas Co., which companies con¬
trolled the entire gas business in Webb City and
Carterville,
Mo., serving a population of about 12,000.
The combined net earnings of the two companies in question for the
year 1909, after deducting all interest charges, &c., amounted to $101,437.
It is estimated that in 1911 they will show net of $125,000 available for
dividends.
The Webb City & Carterville Gas Co. has a total capital stock
of $150,000. funded debt of $100,000; franchise
running till 1925; 25 miles
of mains and about 1,850 meters.
Carthage Gas Co. has $200,000 stock
(one-half pref.), a funded debt of $100,000, 26 miles of mains and 2,300
ft. for domestic use and 10 and
meters.
Prices for gas, 25c. per 1,000 cu.
12 J^c. for manufacturing.—V. 91, p. 656.
Empire Steel & Iron Co.—Dividend Reduced.—A semi¬
2% has been declared on the $2,500,000
6% cumulative stock, payable Jan. 1 to holders of record,
comparing with 3% each in July and Jan. 1910.
annual dividend of
1899.
3
Previous Dividend Record of Preferred Stock
1900.
6
1901.
3
1902. 1903.
3
3 H
(Per Cent).
1904. 1905. 1906. 1907. 1908. 1909. 1910
6
2 H
3
3
6
4 H
6
Accumulated dividends on preferred Jan. 1 1911, 20 H%.
“The earnings for the entire year were more than sufficient to pay the full
dividend of 6% on the said stock, but, owing to the depressed condition of
the Iron business, and the uncertain outlook for the near future, it was
thought wise to curtail. The company is now running on basis of about
50% of Its entire capacity, and has accumulated a small stock of pig iron.
The ore mines in New Jersey are bein? run to their full capacity, and are
reported as doing exceedingly well” (official).—V. 90, p. 917.
Fountain Cotton Mills, Tarboro, N. C.—Called Bonds.—
Four first mortgage 6% bonds, Nos. 41, 61, 70
be paid at par and interest at the office of the
Safe Deposit & Trust Co. of Baltimore, on Jan.
and 93, will
trustee, the
1 1911.
General Chemical Co. of California.—First Dividend on
First Preferred Stock.—A quarterly dividend of 1^% has
been declared on the $1,250,000 7% cum. 1st pref. stock,
payable Jan. 3 1911 to holders of record Dec. 20 1910. See
item on General Chemical Co. (of New York) in V. 91, p .656.
(B. F.) Goodrich (Rubber) Go., Akron, O,—Stock Over¬
subscribed.—The subscriptions fQr the $2,000,000 new pref.
stock offered to the stockholders, the right to subscribe for
which expired Dec. 15, were, it is announced, over $2,000,000
in excess of that amount.
The Bankers’ Trust Co., New
York, is transfer agent. Compare V. 91, p; 1256, 592.
Goshen (Ind.) Gas Co.—Stock Pledged.—See National Gas
Electric Light, Heat & Power Co.—V. 82, p. 1382.
Ingersoll-Rand Co., New York.—Listed.—The New York
Stock Exchange has authorized to be listed on and after
Jan. 3 next $4,800,000 additional common stock as issued
in exchange for the $4,800,000 outstanding preferred stock
under the option of exchange terminating Dec. 31, making
the total amount authorized to be listed $7,800,000. (V. 91,
p. 1515, 1098,1028, 719.)
Earnings.—For 10 months ending Oct. 31 1910:
Earnings before charging
depreciation
Depreciation
Net earnings
Deduct—Bond Interest—
—V. 91, p.
Deductions (Continued)-
$1,238,145 Preferred dlv. (10 mos.)—$239,990
346,252 Special reserve In respect of
inventory
891,892
83,333 Balance, surplus
250,000
318,569
1515. 1450.
International Time-Recording
Co., Endicott, N. Y.—Bonds
Called.—Seventy first mortgage and collateral 6% sinking
fund gold bonds have been drawn for redemption at 105 and
interest
on
Jan. 14 1910 at the Guardian Trust Co. of New
This will leave $175,000 of the issue out¬
standing.—1V. 91, p. 1388.
Inter-State Light & Power Co. (Illinois and Wisconsin).—
Bonds Offered.—The bond department of the Continental &
Commercial Trust & Savings Bank (the trustee), Chicago, is
offering at par $624,000 1st M. 6% gold bonds dated July 1
1910 and due serially on July 1 from 1913 to 1932, but re¬
deemable on and after July 1 1912 at 105 and int.
Par
$500, $1,000 c*. Int. J. & J. at office of trustee.
York, trustee.
Deo.
THE CHRONICLE
171910.)
Authorized.
Capitalization-—
Common
Preferred
1st M. 6%
-
___
$500,000
2,000,000
Issued.
$500,000
332,500
($1,376,000 reserved for 75% of cost
extensions, &c.)
;
2,000,000
624,000
The $624,000 bonds mature: 1913 to ’15, $10,000 yearly; 1916 to *19,
$20,000 yearly; 1920 to ’25, $25,000 yearly; 1926 to f29, $30,000 yearly;
1930 to *31, $35,000 yearly; 1932, $174,000.
Organized in Delaware, licensed in Illinois, and operates a light and
•
power steam plant in the city of Galena, Ill., of 3,000 k.w. capacity, with
main power line extending through Jo Daviess County, furnishing power
to numerous lead and zinc mines and light In several villages to the Wis.
State line and thence north (Inter-State Lt. 8s P. Co. of Wis.) to Platteville,
WIs., serving also that city. The entire revenue of the Inter-State Lt. & P.
Co. of Wis. accrues to the Inter-State Lt. & P. Co. of N. J., as owner of
all the stock and bonds of the Wisconsin company.
Monthly Earnings June 1 to Nov. 30 1910—Estimate Year end. June 1911.
Oct.
Nov
1910-11.
July.
Aug.
.Sept.
$8,613
$9,809 $12,562 $13,617 $15,625 $16,136$187,500
7,833
4.796
5,957
2,036
3,348
8.941
93.997
Bond interest (6% on $624,000 on first mortgage bonds)
$37,440
alance, estimated surplus (equal to 1H times bond interest)
$56,557
Abstract of Letter from Otto E. Osthoff. Vice-President and Chief Engineer
of H. M. Byllesby & Co.. Owners and Operators, Dec. 1 1910.
This company owns a modern fire-proof power house, located at Galena,
Ill., in which is installed a total generating capacity in generators, engines
and boilers of 3,600 h.p.
The company hew only been In actual operation
for about six months and has now connected to Its lines 837 consumers:
representing a station load that reached a total of 2,600 h.p. during No¬
vember.
The business is growing rapidly, several additional mines having
recently signed contracts for power and a great many new mines having
filed applications for service.
The monthly increase in both gross and net
earnings has been very rapid, the earnings at present being at the rate of
About $193,600 gross and $107,000 net per ann.
During 1911 the net earn¬
ings should be at the rate of $125,000 per year.
The franchise in Galena ex¬
tends several years beyond 1932 and in Platteville is without time limit.
We wholesale electricity to Benton, Hazelgreen and Cuba City under long
term contracts.—V. 91, p. 340.
Jun
Gross
Net
Jacksonville (Fla.) Gas Co.—Bonds Offered.—H. T. Holtz
ft
Co.,Chicago, are offering at par and int. $240,000 6% 10debenture gold bonds dated Dec. 1 1910 and due Dec. 1
1920, but redeemable on any int. date at 101 and int. Int.
Q.-M. at Central Trust Co. of Ill. (trustee), Chicago.
year
Abstract of Letter from Pres. Knowlton L. Ames, Chicago, Dec. 9 1910
The company supplies all of the gas for light, heat and fuel in Jackson¬
ville and suburbs.
Population of city (1910 Census), 57,699; average
population served about 70,000.
Capitalization—
Issued.
Authorized.
Preferred stock.
j,
$1,500,000
Common stock
1,500,000
$750^000
1st M. 5s ($945,000 reserved und. conserv. restric.) 2,000,000
1,055,000
6% debenture bonds (this issue), par $1,000 (c*)._
500,000
240,000
The trustee’s agreement provides that no other Issue of bonds can be
authorized while these debenture bonds are outstanding.
Earnings (Year ended October 31 1910).
Gross earnings
$196,600
Operating expenses, taxes, maintenance and renewals ($103,211),
Interest on 1st M. bonds ($48,387)
151,598
Surplus for Interest
Annual interest
on
on
debenture bonds
$45,002
$14,400
6% debenture bonds
Compar. statem’t Dec.31-
1909.
Gas sold (years) cu. ft
Meters in use Dec. 31
Ranges in use Dec. 31
1908.
1907.
1906.
127,727,100* 99,676,400 70,989,800 50,589,000
5,699
4,370
3,315
2,492
4,863
3,708
2,000
2,896
Arc lamps in use Dec. 31.
1,702
1,440
1,006
500
Miles of mains in use Dec. 31
64.5
54.2
45.8
37
Net earns, for year end. Oct. 31 1910, $93,389; for 1911, est., $115,000.
The present site is too small and too valuable for gas-manufacturing
purposes.
The company has therefore purchased 8 H acres advantageously
situated on two railroads; on this a new and modern manufacturing
plant has lust been completed to take care of the growing business. The
company is spending a large amount each year in extending its mains.
Three reductions in the price of gas have already been made.
The fran¬
chise is perpetual, favorable and free from burdensome restrictions.—
V. 90, p. 450.
_
Joplin (Mo.) Gas Co.—Stock Pledged.—See National Gas,
Light, Heat & Power Co.—V. 82, p. 1382.
Electric
Lukens Iron ft Steel Co.—Notes Called.—The company
called for payment on Jan. 1 1911, at par, at the office ofjthe
Fourth Street National Bank, Philadelphia, 63 coupon notes
($31,500), and also 113 ($113,000) of its Allegheny Ore &
5% notes. Notes may be presented for
payment on Dec. 31 1910.—V. 89, p. 998.
Manufacturers’ Light ft Heat Co., Pittsburgh.—Purchase.
—The company has acquired control of the Franklin ft
Washington Gas Co. of Washington, Pa., having purchased
about 51% of the $100,000 stock from Pres.Louis E. Sterrett.
A new scale of prices is announced for gas for manufacturing
purposes in the Washington district, showing large increases.
Refunding.—-The “Pittsburgh Despatch” states that the
directors will on Dec. 27 consider a proposition from a New
York banking house to refund the present indebtedness by
means of an issue of $8,000,000
6% debentures running
not over 15 years, $450,000 of these to be paid yearly in the
early years and $500,000 yearly thereafter.—V. 91, p. 1163.
Moline (Ill.) Plow Co.—New Stock.—This company dur¬
ing November filed a certficate of increase of capital stock
from $7,000,000 to $9,000,000, “the increase,” it is stated,
“being necessary for future expansion and extra working
capital.”—V. 89, p. 1355.
Monongahela River Consolidated Coal ft Coke Co., Pitts¬
burgh, Pa.—Dividends Resumed.—A dividend of 2% has
been declared on the $10,000,000 7% non-cumulative pref.
stock, payable Jan. 25 to holders of record Jan. 12, out of
the earnings of the year ending Oct. 31 1910.
The last dis¬
tribution was IH% in Jan. 1909.
Iron Co. collateral
Previous Dividend Record of Preferred Stock {Per Cent).
’06.
Jan. ’07.
July ’07 to ’08.
1.94
4 H
7 yearly (J&J)
July '00 to Jan. ’04.
’05.
7% yearly.
1.54
—V. 91, p. 592. 399.
’09.
1H
Monterey County (Cal.) Gas ft Electric Co.—Sale.—See
Pacific Gas & Electric Co. under “Railroads” above, and
Monterey & Pacific Grove, V. 87, p. 10S9.—V. 81, p. 1104.
National Boat ft Engine Co.—Merger.—This company
was organized in Maine
Sept. 16 1910 with $10,000,000 auth.
capital stock, $5,000,000 in pref. and $5,000,000 in common
stock.
Of this amount over $2,500,000 was subscribed and
paid for by the transfer to tne company of the proper¬
ties and accounts of the following (“®” incl. branches):
1633
xRacine Boat*Mfg.?Co., Muskegon, Mick. InlandLakesB’tCo., Lake Geneva, Wis.
xTruscott Boat Mfg. Co., St. Jos.,Mich. Pioneer B’t A Pattern Co., Bay City.
Shell Lake Boat Co.. Shell Lake, Wis.
West Mystic B’t Co., West Mystic,Conn.
Pierce Motor Co., Racine, Wis.
Pope Boat Co., Fond du Lac, Wis. ;
Outing Boat Co., Kankakee, Ill., and Western Launeh A Engine Works.
Ashland, Wis.
Mich. City. Ind.
“The majority of these properties have been recently appralsecTonaconservatlve basis, and their value on Nov. 20 1910 is shown in the following:
Assets
Liabilities ($401,537).
($3,168,388).
$1,814,885 Notes payable
$286,727
349,211 Open accounts
95,406
244,323 Accr’d tax.,Int. .payrolls, &c.
19,405
Plant and property
Inventories JAccounts and cash
Patents
l
759,969 Balance net assets
2,766,850
The President Is W. J. Reynolds (Pres, and Treas. of Racine Boat Mfg.
Co.) and the Secretary is John Q. Ross, both of Muskegon. A bond Issue,
it is said, is contemplated.
National Gas, Electric
Light ft Power Co., Phila.—Notes
Called.—The $400,000 6% collateral trust notes issued Jan.
1908 will be redeemed at the office of Bioren & Co., Philadel¬
phia,
Jan. 1 1911 at 102 and int. Compare V. 87, p. 1667
Offered.—Bioren & Co., Philadelphia, have sold
privately for delivery Jan. 1 1911 most of the new issue of
$700,000 20-year collateral trust 6% gold bonds, and are now
offering the remainder in connection with S. Whelen & Co.,
at par and interest.
A circular shows:
on
New Notes
Bonds dated Jan. 1 1911 and due Jan. 1 1931. but subject to call at any
interest period at 102 and int.
Int. J. A J. Par $1,000, $500 c*. Mer¬
chants’ Trust Co. of Philadelphia, trustee.
Total bonds authorized, $2,000,000; outstanding (sold)
$700,000
In treasury, $300,000; and reserved for future extensions and for
acquisition of new properties (under carefully guarded restric¬
tions ($1,000,000
i
1,300,000
These bonds are a direct obligation of the National Gas, Electric Light A
Power Co., which corporation has some $1,600,000 6% cumulative pref.
stock and some $1,200,000 common stock outstanding.
*
Stock Pledged to Secure Above Notes. Est. as Worth Over
$2,5Q$,000.
(Being the entire capital stock In case of each company, except Quincy
Gas, Elec. Light & Power Co., $1,800,000 out of $2,000,000.)
Port Huron (Mich.)
Rome (N. Y.) Gas, Electric
Gas
Co
$250,000
Light A Power Co
$400,000
Goshen (Ind.) Gas Co
60,000 Portsmouth (Ohio) Gas Co_ 200,000
Joplin (Mo.) Gas Co._^_. 300,000 Quincy (Ill.)G..E.L.8cH.Co* 1,800,000
•
$1,800,000 out of a total Issue of $2,000,000; the remaining 10% will
be deposited when acquired.
Surplus Earns. Applicable to Divs. of Above Cos.—12 Mos. end. Oct. 31 1910.
Goshen (Ind.) Gas Co
$16,513 Portsmouth (Ohio) Gas Co__$17,304
Joplin (Mo.) Gas Co
47,195 Rome (N.Y.) G..E.L.&P.CO- 50,775
Port Huron (Mich.) Gas Co__ 26,355 Quincy (Ill.) G., E.L.&P.Co. 45,337
Total
__$203,479
Interest charges on the $700,000 6% bonds
,
42,000
Leaving a surplus of
$161,479
Moreover, the National Gas, Electric Light A Power Cd. for the year
under review had net profits of $179,115.
There has been expended on the several plants of the National Gas Co.
some $400,000 from earnings.
The population of the towns In which these
companies operate is approximately 150,000 persons.
The proceeds of the sale of these bonds are to be used in retiring $400,000
6% notes called for payment on Jan. 1 1911 for the retirement of floating
debt and for improvements and extensions.
Application will be made to
list these bonds on the Phila. Stock Exchange.
Scrip in Settlement of All Accumulated Dividends.—The
on Dec. 15 declared a
scrip dividend of 21% in full
payment of all accumulated and accrued dividends on the pref.
stock to Jan. 1 1911.
It is expected that dividends on the
shares will hereafter be paid in cash, and distribution will be
made quarterly instead of semi-annually.—V. 87, p. 1667.
National Lead Co.—New Director.—Chas. E. Field,
manager of the Chicago office, has been elected a director
to succeed H. M. McChesney, deceased.—Y. 91, p. 720, 218.
directors
New York Terminal Co.—Proposed Sale of Boats—Status.—
President R. R. Govin, in a circular dated Nov.29 1910 and
addressed to the holders of Knickerbocker Trust Co. receipts
(see V. 88, p. 233), says in substance:
This company took title, after foreclosure sale, of the property formerly
of the Brooklyn Ferry Co. of N. Y.
Its new 6% income collateral trust
mortgage bonds were delivered in exehange, par for par, for the consol. 5%
mortgage bonds of the Brooklyn Ferry Co. of N. Y. deposited by you with
the Knickerbocker Trust Co.
These new bonds are now held for you under
the tripartite agreements under which the Trust Co. has the right, if the
amounts due thereunder are not paid on or before April 15 1911, to sell or
otherwise dispose of your bonds to pay the amounts due.
This company has never engaged in aotlve business and has used every
endeavor to make satisfactory disposition of the properties.
No satis¬
factory offers, however, have been made for the whole or any part thereof.
This has been largely due to the special Act applying only to this company’s
property at the foot of Broadway. Brooklyn, to facilitate the condemnation
of the same, and to the general public agitation therefor, which serves to
prevent a sale of this property to any one other than the city.
The com¬
pany is now. however, advertising for bids for boats, its electric light
plant and miscellaneous property formerly used in the operation of the
ferries.
they will
The boats are depreciating rapidly through disuse, and
soon
become practically worthless.
It
seems
if not sold
wise to sell them
if the best price obtainable is not commensurate with the cost thereof.
The city has recently taken by condemnation proceedings the central
portion of the land at the foot of Broadway, Brooklyn, which was formerly
the ferry terminal, being about one-third the area of that tract, and may
even
possibly take the remaining portions of that tract in the near future. This
and lands under water on the East River at Grand
St., Brooklyn, and land under water and the bulkhead at or near the foot
of Broome St., Manhattan, and also a lease of the 10th A 23d St. Ferry
property, which has a term of years yet to run.
As there Is no advantage to be gained in holding the property together,
sale of the greater part thereof should now be made, reserving only such
parts as may be deemed advisable to use In connection with the continued
operation or the 10th A 23d St. ferries.
In respect of these ferries, this
company was unable under the law to operate ferries or to apply for the
necessary franchises, and furthermore had no means of raising the requisite
working capital. Arrangements were made therefore with Interborough
Ferry Co., which obtained and now holds the necessary franchises. Under
these arrangements this company receives at present from the Ferry Co.
80% of the net profits from the operation of the ferries; this percentage in
the year 1920 will be Increased to 97 H % of such net profits.
This income
has been applied toward the payment of the Interest on the prior issue of
bonds of $1,000,000, and the care of the properties; but all sources of reve¬
nue together have been greatly inadequate for such purposes.
t •
Under the conditions, therefore, which exist, the properties being sub¬
stantially unproductive, the interests of its bondholders will be best served
by a speedy sale of the properties, and this lt is proposed to accomplish.
The proceeds will be applied first to the payment of the said $1.000,000 prior
mtge. and interest, then to the payment of all other obligations prior
to the lien of your mortgage, and the remainder thereof then turned
company also owns lands
over
to the
Knickerbocker
with your mortgage.
Trust
Co.
for
disbursement
in
accord¬
Before paymentf are made upon your
bonds, the following prior liens must be satisfied, namely: Real estate,
taxes and water taxes for several years last past; franchise taxes now being
contested, say $15,000; 6% bonds due Jan. l 1911 (a 1st M. upon the entire
property.except the lease of the 10th 6s 23d St. ferries, two ferry boats and
ance
1634
THE CHRONICLE
small amount ot personal property), $1,000,000, and also interest thereon
until paid.
Receivers’ certificate, $35,379. with int.; possible commis¬
sions for arenewal of all or part of said loan not to exceed 2%: judgment In
favor of William Darcy, and int., about $7,000; claim of U. S. Fidelity &
Guaranty Co. for ferry rentals paid by it to the city as guarantor upon
leases, $48,147, with interest at 6% from April 20 1909; additional ferry
rentals to the city, now being contested, about $30,000; expenses of fore¬
closure of the consol, mtge. of Brooklyn Ferry Co., not to exceed $75,000.
In addition other obligations have been incurred to secure the payment
of which your bonds are held as collateral, as follows:
Moneys borrowed
by the protective committee, including $32,500 for the mortgage tax on
your present [N. Y. Term. Co.] bonds, not to exceed $63,000; compensa¬
tion of your committee, $16,000.
There are also obligations incurred for
the preservation of the properties approximating $60,000, which though
a
Sotthe
Strictly
a charge prior
to your
bonds,and
should
be Street
so considered.
Prior
discontinuance
of the
Broadway
Grand
ferries, the
In¬
>
therefrom was grossly Inadequate to meet even operating expenses.
The efforts of this company for the earlier stoppage
of those ferries were
come
delayed by
an
injunction which compelled their continued operation at
great loss for a period of more than five months.
This company requests that you give your assent to the carrying out of
the plan of liquidation as set forth herein and to all of the foregoing com¬
mitments, to the release from your mortgage of the properties so sold, and
also to the foreclosure of the mortgage, this company being willing to con¬
sent thereto in case it deems a foreclosure thereof to be advisable In aid of
this plan of liquidation.
This plan contemplates a liquidation of the assets
as rapidly as can judiciously be done and a distribution of the proceeds
thereof In advance of the maturity of your bonds In 1948: It being under¬
stood that circumstances may be such as to make it advisable to continue
for an indefinite period the operation of the 10th and 23d Street ferries.
Unless this plan Is assented to by all the bondholders, the bondholders
may be obliged to wait for any distribution on their bonds until the ma¬
turity thereof.
[The N. Y. Terminal Co.’s $6,500,000 6% income collateral
trust mortgage was filed for record in July 1909, but is dated April 27 1908
and due Aug. 1 1948.
As collateral therefor there were pledged in 1909
$6,294,000 Brooklyn Ferry Co. consol. 5s, dated Aug. 1 1908.—Ed.]
The certificates of deposit issued by the Knickerbocker Trust Co. are to
be stamped as follows, to wit: “The holder of this certificate and all sub¬
sequent transferees hereof, and of the interests represented hereby, have
assented to the circular letter of the New York Terminal Co., dated Nov. 29
1910, on file with the Knickerbocker Trust Co., and to the plan of liquida¬
tion therein contained.’’
[The p^mpt approval of the foregoing plan of liquidation Is recom¬
mended tgy the surviving members of the bondholders’ protective com¬
mittee, aaoidy: Joseph J. O’Donohue Jr., Marcus Mayer, Geo. H. Pren¬
tiss and ls*ac Jackson.]—V. 89, p. 287.
a
Niles-Eement-Pond Co.—Change in Redemption Date.—
Thursday ratified the proposition to
the redemption feature of the pref. stk.
The stockholders on
defer the operation of
to. on or after the first
Monday of Jan. 1921.—V. 91, p. 1388.
Otis Elevator Co.—New Officer.—W. B. McCune has been
appointed Treasurer of the company, to succeed L. Belknap,
deceased.—V. 91, p. 339.
Pacific Power & Light Co. (of Maine).—Pref. Stock Of¬
fered.—White, Weld & Co., New York and Chicago, are
offering at par and int. the unsold portion of $1,200,000 7%
pref. stock, cumulative at the rate of 7% per annum, pref.
to dividends and
as
assets, and redeemable at 115and accrued
dividend, at option of co., on any dividend date. Dividends
Q.-F. Authorized, $1,500,000; outstanding, $1,250,000.
The Pacific Power & Light Co. is a consolidation of
properties
serving some 18 communities and surrounding country in
the States of Washington, Oregon and Idaho.
Abstract of Letter from Vice-Pres. F. G. Sykes, 71 B’way, N. Y., Nov. 22.
Securities Authorized and Outstanding (Co. Incorp. in Me. in June 1910).
Authorized. Outstanding.
Underlying bonds
$1,320,000
First and refunding 5s
$30,000,000
2,500,000
First and refunding 5s (deposited in escrow)
*710,000
7% cumulative preferred stock
1,500,000
1,250,000
Common stock
6,000,000
6,000,000
*
These bonds have been deposited in escrow and subordinated in lien
the remaining $2,500,000 bonds, and also subordinated both as to prin¬
cipal and interest to the outstanding pref. stock, and can be released from
escrow only when the net earnings for the preceding 12 months are at least
twice the interest charge on all underlying bonds and on all “first and ref.”
bonds not in escrow, plus any bonds sought to be released from this escrow.
to
-6 Mos. end.Oct.31- Inc'se.
Earnings—
Gross earnings
Net from oper
Bond & other int.
—Calendar Years—
Inc’se.
1909.
1910.
1910.*
1911.
{Actual Results)
(2M.est.) (Eslim'd.)
$372,627 $470,670 $98,043 $943,303 $1,106,000 $162,697
160,866 221,018 60,152 407,889
561,000 153,111
(avg. for per’d)
pref.
dividend
requirements._
68,285
158,280
223,470
43,750
87,500
87,500
__
_
Surp. after div. on
$l,250,000pf.stk.
$108,983
$162,109
$250,030
The foregoing estimate for 1910 and 1911 is based upon the new business
now actually in sight.
The expenditures for new construction since July 1 1910, together with
the further immediate expenditures to complete the construction work now
In progress, will aggregate about $584,000, and should
provide largely in¬
creased facilities and materially reduce operating costs, but even under
present conditions the company is earning about three times the dividend
upon its $1,250,000 outstanding pref. stock.
Plant—(a) Hydro-Electric and Steam Plants.—This company has a devel¬
oped electric power capacity of approximately 13,100 h.p., of which
amount 8,800 h.p. is generated by hydro-electric power plants.
It has
under construction additional hydro-electrlo capacity of 3,050
h.p., and
additional steam capacity of 2,700 h.p., so that Its total capacity in
opera¬
tion and under construction Is approximately 18,850 h.p.
Operated from
these power plants are high-voltage transmission lines aggregating 277.4
miles and other lines and extensions are in immediate contemplation,
(b) Operates gas plants In Lewiston, Idaho; Walla Walla and North Yakima,
Wash.; Pendleton and Astoria, Ore.; also (c) operates a street railway in
Astoria, Ore., and a street railway in Walla Walla, Wash., as well as an
Interurban railroad from Walla Walla, Wash., to Milton, Ore.; grand total,
30.45 miles of main track,
(d) Owns and operates the water works in
North Yakima, which derive their supply from the Natches River and the
water works at Kennewick and Pasco, where the supply is from the Colum¬
bia River.
Supply ample and good; practically all sold by meter. J. G.
White A Co. state that, while the report which they are making as to the
replacement value of the physical property has not yet been completed,
they are confident that such replacement value will exceed $4,500,000 cash.
Contracts and Leases.—This company has a long-time contract with the
Hammond Lumber Co. of Astoria, under which the latter furnishes at
pres¬
(The oompany, in addition, has its own modern relay
h.p. at Astoria.)
This company also has a contract with the Washington Water Power Co.
of Spokane, whereby power can, on mutually favorable
conditions, be taken
by either party from the other at any time either has power to spare. The
amount of power which is ultimately to be interchanged is estimated at
about 8,000 h,p. >This contract provides for the construction of a
66,000volt transmission line between Pasco and Lind to connect the company’s
system with that of the Washington Water Power Co.
Franchises.—The electric light and power franchises in Astoria, Pendle¬
ton, The Dalles and Dufur are unlimited as to time, as Is also the gas fran¬
chise! in Astoria.
The street railway franchise in Astoria
expires in 1981.
All other grants extend to from 1930 to 1935,
except the Sunnyside electric
Ught and Lewiston gas franchises,which expire in 1929 and theMabton and
Wapato etaptrlo light franchises, which expire in 1924—the net receipts
from tbepe four tqwns for the past 12 months being less than 5% of the
total.
All franchises are free from objectionable restrictions.
ent about 1,300 h.p.
steam plant of 1,750
[jVQL.
LXXXXI.
Field of Operation.—The business at Astoria, Ore., depends largely upon
shipping, lumbar, the salmon dshing and dairy products. The other cities
and towns
are located in the agricultural and horticultural districts of Ore¬
Washington and Idaho, and are supported in the non-arld territory
by the cattle and sheep industries and by the growing of wheat and other
small grains, and by truck farming.
The arid belt served is located prin¬
cipally along the valleys of the Yakima and Columbia rivers and along the
lower Walla Walla and Snake River valleys, and, with Irrigation, it pro¬
duces remarkable results, particularly in the growing of all kinds of fruits
and garden truck. Including in the Yakima Valley apples with a world-wide
reputation.
One of the Important markets for the power is to be found in
supplying power to pump water for the irrigation of these lands.
The
population of the towns served, according to the 1900 Census, was 34,721,
and, while the estimated total population of 78,950 for 1910 shows a large
growth, it is believed that the reoent extensive railroad building, together
with the Improvement of navigation on the Columbia and Snake rivers,
will insure a much larger actual increase in the population in the next decade.
Transportation facilities, heretofore deficient, are now unusually good, the
territory now being served by the Nor. Pac., Can. Pac., Ch. ityfll. A Pug. Sd.,
Great Nor. and Union Pac. railway systems and by the steamers now op¬
erating more effectively on the Columbia River by reason of the building of
locks thereon by the United States Government.
Management and Control.—The company Is managed by the American
Power A Light Co., which owns the $6,000,000 common stock, and the
gon,
atter Is controlled by the Electric Bond & Share Co. and its affiliated
90 p. 1617; V. 91, p. 467, 1163.
Interests.—V.
Parke, Davis & Go., Detroit.—Extra Dividend.—The direc
2J^%
stock
(par $25), against an extra disbursement of 2^% a year
ago and 3% in 1908.—V. 90, p. 624.
Parker Mills Co., Columbia, &c., S. C.—Proposed Merger.
—Lewis W. Parker of Greenville, S. C., President of a num¬
ber of Southern cotton-manufacturing companies, is father¬
ing a plan for the merger of the following mills, and possibly
others, into a corporation with, it is reported, about $10,000,000 capital stock, including $2,500,000 pref., to be used
in retiring the bonded debt of the Columbia Mills and putting
the new company in strong financial shape:
tors have declared the regular
quarterly dividend of
and an extra dividend of 5% on the
$7,600,000 capital
South Carolina Mills Expected to be Included in Merger, with Number
of
Their Spindles.
Total 358.256.
Olympia Mills, Columbia
100.320 Victor Mfg. Co., Greers
59,136
Granby Mills. Columbia
57,312 Appalache Mills, Greers
Capital City Mills. Columbia. 14,992 Monaghan Mills, Greenville.
20,000
60,033
Richland Mills, Columbia
26,112 Greers Mfg. Co., Greers
10,240
Beaver Dam Mills, Edgefield. 10,112
Proposed management: President, Thomas F. Parker, Pres. of the
Monaghan Mills; Vice-Presidents, M. L. Marchant, of Greers; J H. M.
Beatty of Columbia, David Jennings of Greenville; Treas., Lewis W.
Parker of Columbia; Sec., F. J. Ingoldsby of the Appalache Mills at Greers.
As to Olympia Cotton Mills see V. 81, p. 781; Granby, V. 77, p. 2037.
-
Pennsylvania Water & Power Co., New York.—Mr.
Gas, Electric Light &
Aldred Also President of Consolidated
Power Co.—See that company above.
Contract Off.—See United Railways
& Electric Co. under
“Railroads” above.—V. 91, p. 1098, 948.
Pittsburgh Steamship Co.—Called Bonds.—There have
been called for redemption at par and interest at the Union
Trust Co. of Pittsburgh, Pa., on Jan. 1 1911, $187,000 of
this
company’s 1st M. 5s of 1900.—V. 89,
p.
1599.
Port Huron (Mich.) Gas Co.—Stock Pledged.—See National
Gas, Electric Light, Heat & Power Co.—V. 89, p. 1672.
Portsmouth (0.) Gas Co.—Stock Pledged.—See National
Gas, Electric Light & Power Co.
Quincy (Ill.) Gas, Electric Light & Heating Co.—Stock
Pledged.—See National Gas Electric Light & Power Co.
Kay Consolidated Copper Co.—Bonds All Sold.—The
entire issue of $3,000,000 10-year 6% bonds recently offered,
the right to subscribe for which expired Dec. 10, were, it is
announced, all subscribed for by stockholders or the pur¬
chasers of “rights.”
Compare V. 91, p. 1388, 1264.
Rome (N. Y.) Gas, Electric Light & Power Co.—Stock
Pledged.—See National Gas, Electric Light, Heat & Power
Co.—V. 84, p. 1252.
Sealshipt Oyster System, Inc., Northport, N. Y., South
Norwalk, Conn.—Merger—Pref. Stock Offered.—Fuller &
Co., 40 Wall St., New York, announced on Dec. 6 the closing
of the subscription at par for $575,000 of the 7% cum. pref.
stock, with 10% bonus in common stock, of this new cor¬
poration, “the largest distributers of bulk oysters in the
world.”
A. circular prepared before the purchase of the
Stratford (Conn.) Oyster Co. says in substance:
Pax of shares $100.
1910.
Preferred both
Pref. dividends payable semi-annually from July 1
to assets and dividends.
Registrar, Guar. Tr.
Co.; transfer agents. Bankers’ Trust Co.
Preferred stock, 7% cumulative, authorized. _$1,500,000 Issued, $820,000
Common stock, authorized
1,500,000 Issued, 1,500,000
Long term underlying mortgage, on which company Is not pri¬
marily liable (no bonded debt)
150,000
Property purchase notes running to 1920
119,400
Condensed Extracts from Letter of President Lewis C. Brooks, South
Norwalk, Conn., June 29 1910Directors:
G. L. Brooks (Chairman), Albuquerque, N. Mex.; H. O.
Underwood, of Wm. Underwood A Co., Boston, Mass.; T. F. Manville,
Pres. H. W. Johns-Manvllle Co., New York; Chas. G. Rice, Boston, Mass.;
Edward Thompson, Brooklyn, N. Y.; D. K. Cole (Vice-Pres.), Northport,
N. Y.; F. S. Beardsley (Treas.), Bridgeport, Conn.; L. C. Brooks (Pres.)
and E. F. Hulbert (Sec’y), South Norwalk, Conn.
The properties owned in whole or in part and operated are: Sealshipt
as
Oyster System, Inc., of South Norwalk, Conn.; Northport Oyster Co., Inc.,
Co., Northport, N. Y.; Trusweve
Package Mfg. Co., South Norwalk, Conn.
Recent additions comprise the
outright purchase of the Blue Point oyster beds of 13,397 acres in the Great
South Bay, Long Isl., and of Pausch Bros. Oyster Co. of Bay Snore, Long
Island [also the Stratford (Conn.) Oyster Co. which since some time in
1904 to date of transfer to Sealshipt had paid as dividends about $105,000
and for betterments $150,000, and increased Its oysters on hand from
300,000 to 500,000 bushels).—Ed.]
The new company, Incorp. in New York in 1910, (1) owns nearly 45,000
of patented “sealshiptors* now operated under lease on a royalty basis
through about 80 different oyster shippers; also about 7,000 porcelain dis¬
play fixtures operated through retail food dealers throughout the United
States and Canada; (2) has absorbed the Northport Oyster Co. of N. Y.
and Conn., which comprises nearly 5,000 acres of fully stockd oyster lands,
output 125,000 to 200,000 bushels annually; and operates a fleet of steam¬
boats. mid has docks, shucking house, ice plant, Ac,; (3) has acquired|the
Trusweve Package Mfg. Co., which manufactures at South Norwalk
sealshiptors and other fixture? under the Trusweve patents; (4) it owns
in fee simple the aforesaid Blue Point oyster beds: also the Pausch Brothers
oyster plant, including about 200 acres of fattening lands In the channel
near Fire Island Light, planted with marketable oysters, together with
South Norwalk, Conn.; Northport Oyster
Deo. 17
shipping houses, scow, dredge, Ac., at Bay Shore,
ford (Conn.) Oyster Co. referred to above.
Our profits are derived from: (1) The royalties,
oysters shipped in our sealshiptors, by which we
L. I., N. Y.; (5) Strat¬
-
about 15 cts. a gall.on
supply 100 [now 167—
Ed.] jobbing distributers, three branch houses [now seven—Ed.] and some
9,000 retail food dealers [now reported as 10,000 In 7,000 cities, Ac.—Ed.]
a royalty being received on every trip the package makes.
(2) The leasing
of the porcelain sealshlpt cases, a display fixture for the retail food dealer;
during the past season nearly 5,000 of these were leased to the dealers
throughout the country.
(3) The sale of paper oyster pails for use by retail¬
ers for delivering oysters; the past season our sales of paper palls (bearing
,
the trade-mark “sealshlpt”) amounted to 4,000.
(4) The sale of oysters
In bulk In “sealshiptors,” also In the shell.
(5) From the Trusweve Mfg.
Co., makers under a dozen patents that we own outright and of a package
which Is extremely durable and light and applicable to other lines of busi¬
ness.
grounds to planters.
(“Shipments” are % increase in gals, over yr. 1902-03).
(6) The leasing of oyster
Growth of Business
Cities
Shippers
1903-04. 1904-05. 1905-06. 1906-07.
858
518
270
134
32
20
16
9
6
0
0
0
729
1,273
370
160
....
..
-
Wholesalers
Retailers
....
..
Shipments
nc'se
964%
1635
THE CHRONICLE
1910.]
2.792%
1907-08.
1,673
1908-09.
3,622
1909-10.
7,000
59
22
79
81
81
167
3,301
6,160
9,310
3,801% 7.629% 13.399% 22,883 % 29.744%
stimulate the use of our sealshiptors.
30 1910, Before Purchase of Stratford Oyster Co.
[Not Including patents, franchises, trade-marks or good-will, but after
allowing for the oash derived from the underwritten pref. stock.]
Cash ($104,701) and accts. and notes receivable. Ac. ($67,094).. $171,795
Marketable oysters on beds ($221,503), mat’ls A supp. ($72,134).
293,637
Oyster lands, boats, plant, Sealshiptors, Ac. ($2,316,454); stocks
of other companies ($39,050)
2,355,504
The Pure Food Law tends to
Balance Sheet as of April
continued
untU|October'1878, at which time we removed to
our present
The volume of business has steadily increased from approxi¬
mately $50,000 per year to over $10,000,000 per year. The profits for the
past 10 years have averaged approximately $650,000 per year, after liberal
charges to depreciation. Including advertising expenses of approximately
$150,000 per year. The net profits for the year ending Jan. 31 1910 Were
$596,577.
An addition to our store Is nearlDg completion covering upwards
of eight city lots on 22d and 23d streets, with a fireproof building 12 stories
location.
In height, which will be opened In January 1911, and which will add fully
one-third to our facilities, which are now very much contracted.
This ad¬
dition will enable the company to enlarge and add to Its departments, and
will, I believe, vastly Increase the volume of its business.
Certified Profits for Years ending Jan. 31.
1906-07.
1909-10.
1908-09.
1907-08.
1905-06.
$596,577
$462,099
$425,901
$842,092
$829,325
Average of
$631,199
Balance Sheet Oct. 31 1910.
[Showing the capitalization resulting from the issue as at Deo. 1,1910 of
pref. stock in exchange for a like amount of debentures retired.]
Liabilities ($12,394,642)Assets ($12,394,642) —
Pref. stock In 30,000 shares
Trade
name,
business,
of $100 each
..$3,000,006
good-will and leases
$7,499,600
Fixtures and machinery.
313,013 Common stock In 75,000
shares
of
$100
7,500,000
each
76,548
Delivery equipment
Merchandise and supplies. 2,637,854
Accts. and bills receivable,
$10,500,000
less reserve for bad accts. 1,332,773 Bills payable, N.Y.AParls 1,450,900
329.838 Accts. payable, New York
Sundry debtors.
and Paris
Investments
347,054
15,000
insurSundry creditors
29,130
Prepaid expense,
Debenture
int.
aoorued
45,000
92,294
ance, Ac
Cash in banks
97,721 Pay-roll and exp. accrued.
22,506
_
190.$23,47
....
Tonopah Extension Mining Oo.—Bonds Called.—Fiftyeight first M. 6% bonds of $1,000 and 20 bonds,of $100 each,
and notes payable, Ac., $181,288;
issued under mortgage dated July 1 1909, have been drawn
property purchase notes running to 1920, Including an under¬
for payment at par and interest on Jan. 1 at the Corporation
lying real estate mtge. on Great South Bay property, $150,000,
upon which this oo. Is not primarily liable, $269,400; total
450,688 Trust Co., 15 Exchange Place, Jersey City, N. J., trustee.
Excess of assets over liabilities
..$2,370,249
Torrington (Conn.) Co.—10% New Stock, Probably as
No increase of either stock is possible without a vote of two-thirds of
Dividend.—The directors on Dec. 9 voted to call a meeting
the capital stock.
No bond Issue nor any mortgage can be made without
of stockholders to authorize an increase in the common stock
$2,820,935
Total assets
Deduct (no bonds) accounts
of two-thirds of the pref. and common stock.
The pref. stock has
in all matters If two semi-annual dividends be withheld or unearned.
Annual Net Profits to April 30 1910 Equal in Year 1909-10 to 7% on
Present Preferred Stock and 4 X% on Common).
a vote
a vote
$69,00011909
1907
1908
$86,604
$124,736
$65,63111910
New Stock.—The stockholders will vote
Dec. 20
in¬
on
creasing the authorized capital stock from $3,000,000 to
$4,500,000 by making the pref. stock $2,500,000 instead of
$1,500,000 and the common stock $2,000,000 instead of
$1,500,000; also to increase the directors from 9 to 11.
Shawinigan Water & Power Co.—Denial.—A director is
quoted as denying that the company is issuing $500,000 new
stock for the benefit of the Montreal Light, Heat & Power
Co.—V. 91, p. 1577.
Southern Bell Telephone & Telegraph Co.—Bonds Sold.—
The company has sold to N. W. Harris & Co. and Kidder.
Peabody & Co., $10,000,000 1st M. 30-year sinking fund 5%
gold bonds, dated Jan. 1 1911.—V. 91, p. 468.
Standard Gas Light Co., New York.—Dividends on Com¬
mon Stock Resumed.—The directors have declared a dividend
of 2% on the common stock, the first since 1906.
Dividend
DIVS
Com
*96
4
’95
1
*97
5
*98
8
'99
5
Record.
'00. ’01. 1902-05 ’06 ’07. ’08
0
26 yearly IX
0
0
’09
0
1910.
Pref._% 5H4K 6
6
6 June.3
8
6 2^6 6 yearly 6
6
There Is $5,000,000 common stock, of which the Consolidated Gas Co.
owns $4,796,200, along with $4,096,100 of the $4,295,700 pref.—V. 83,
p. 1527.
Standard Oil Co.—Tax Decision.—The Supreme Court
of
Circuit Court of the
that the company is
“privilege'1 license tax in each county of the State.
on Dec. 12, reversing the
First District of Hinds County, held
Mississippi
subject to
a
stated, will amount to from $30 to $80
volume of business transacted and the,,
style of equipment used. The claim was contested on the ground that
another class of vendors was exempted under the same law.—V. 91,
The tax on the oil wagons, it is
(or each county, according to the
p.
1388, 1098.
Stem Bros., Dry Goods, N. Y. City.—Stock Increase, &c.—
On Nov. 29 a certificate was filed at Albany, increasing the
capital stock from $7,500,000 (all common) to $10,500,000;
par of shares, $100.
The new stock, is preferred 7%.
The interest of President Isaac Stern has, it is announced,
been acquired by Secretary Louis Stern, who becomes the
President and owner of the entire common stock.
The company was Incorporated on Jan.
stock, Benjamin Stern then retiring.
19 1910 with $7,500,000
capital
Pref. Stock Sold.—Lehman Brothers, N. Y. City; Kleinwort, Sons & Co. of London, and Goldman, Sachs & Co.,
N. Y. City, offered publicly on Dec. 5, at 99^ and int., the
unsold portion of the issue of $3,000,000 7% cumulative
pref.stock,and,it is announced, have sold the entire amount.
A circular reports in substance:
Preferred stock entitled to 7% cumulative pref. dividends, payable quar¬
terly. beginning Mch. 1 1911, and pref. both as to assets and dividends.
Redeemable, all or any part, at the option of
three months' previous notice at 125% and
the company at any time on
Int.
Condensed Extracts from Charter.
(1) The company oannot mortgage or encumber its property or business
except by consent of at least 75% of each class of stock given separately.
(3) There shall
(2) The dividends on the pref. stock shall be cumulative.
be set apart yearly out of profits not
account” before any dividends shall
less than $120,000 as a “special
surplus
be paid on common stock and (a) dur¬
ing the first three years added to general surplus or used at any time for
acquisition of pref. stock, (b) thereafter to be applied to purchase of pref.
stock at lowest prices obtainable, but In no event exceeding 125%, the
shares acquired to be canoeled, and no new certificates issued In lieu thereof.
(4) No dividend shall be paid on the common stock until the above pro¬
visions have been complied with, nor until at least $360,000 has been accum¬
ulated In said “special surplus account,” nor more than 4% in any one year
until the “special surplus account" shall amount to at least $1,000,000.
(5) The aggregate salaries of the officers shall not during the first 5 years
beginning Feb. 1 1911 exceed $80,000 per annum, and shall not at any time
thereafter be increased above said sum without the previous assent of at
least a majority of the pref. stock.
Abstract of Letter from President Louis Stern. New York. Dec. 1 1910.
This ($3,000,000 pref.) stock Is Issued In exchange for and upon the re¬
tirement of an equal amount in par value of 6% debentures.
The sale of
pref. stock Is now being made by me mainly for the purpose of acquiring
Interest
the
of my brother In the property and good-will, so that the entire
($7,500,000) common stock is now held by me.
The firm of Stern Brothers was organized In March 1867.
Its place of
business was then located on 6th Ave. near 23d St., where the business was
$2,000,000 to $2,200,000, preliminary, the “Springfield
Republican" understands, to the declaration of a 10% stock
dividend to holders of the common stock, to represent surplus
earnings.—V. 91, p. 965, 715.
Union Switch & Signal Co., Swissv&le, Pa .—Stock In¬
creased—60% Stock Dividend—$500,000 New Stock Offered
from
$75 Per Share.—The stockholders on Dec. 15 voted unani¬
mously to increase the authorized capital stock from $2,500,000, consisting of $2,000,000 common and $500,000 pref., to
$5,000,000, the new stock being all common stock. The
directors have declared the regular quarterly dividends of
3% each on the common and preferred stocks, and also a
special stock dividend of 60% payable in new common stock
(calling for $1,500,000),all payable Jan. 10 1911 to holders of
record Dec. 31.
They also decided to offer stockholders the
right to subscribe pro rata for 10,000 shares ($500,000) of
the new stock at $75 per share (par $50),payable in install¬
ments.
The sale of new stock will give the company $750,000 additional working capital, leaving $500,000 new stock
in the treasury for future uses.—Y. 91, p. 1333, 1040.
United Fruit Co., Boston.—New Debentures Offered.—
Lee, Higginson & Co., New York, Boston and Chicago, and
Higginson & Co., London, offered this week at 96and int.
the unsold portion of the entire issue of $1,500,000 4 %%
sinking fund gold debentures, dated Jan. 1 1911 and due
July 1 1925, but callable for sinking fund (July 1 1916 to
July 1 1924) at 101 and int., unless purchased at or below
such price.
Par c* $500 and $1,000, r* $1,000 and $5,000.
The debentures have all been resold, but the advertise¬
ment describing the same is published for purposes of record
on another page of this issue.
at
%
Abstract of Official Letter dated Boston, Dec. 8 1910.
These debentures are dated Jan. 1 1911, will mature July 1 1925, interest
payable J. & J. 1.
Both principal and Interest are payable at the Old Col¬
ony Trust Co. (trustee) in Boston or at the banking house of Coutts A Co.
in London at $4 86 to the £, without deduction for any taxes of the U. S.
or any subdivision thereof.
In case any mortgage is placed upon the prop¬
erty, these debentures shall be entitled to the security afforded by such
mortgage, as set forth In the terms of a trust indenture.
On 90 days’ de¬
fault upon Interest or sinking fund the principal may become due and pay¬
able, at the option of the trustee or of the holders of a majority of the de¬
bentures.
Annual sinking fund beginning July 1 1916, 10% of the total
issue; debentures to be drawn at 101% and int. unless purchased at or be¬
low such price after notice advertised in Boston and In London.
Deben¬
tures redeemed are to be canceled.
There is no mortgage debt upon the property.
Its net assets in excess
of all debt, as shown by the annual report on Sept. 30 1910, aggregated
Of this amount, $24,708,499 Is Invested In plantations and
careful Inventory and appraisal of which on that date shows
an excess of $2,273,278 in actual value over the above book valuation.
Including the proceeds of this issue, the net assets will be more than 5 H
$37,948,536.
equipment,
a
times the funded debt.
The object of the Issue is to provide sufficient funds so that this com¬
pany may advance to the Tropical Fruit Steamship Co., Ltd., the cost of
three new steamships, of registered gross capacity of about 5,000 tons each,
which are now in course of construction by Workman, Clark & Co., Ltd.,
of Belfast, and which will cost over 15% more than the amount of debentures
now issued.
Upon the completion of these three new vessels the steamship
oompany will own a fleet of 16 steamships, all built by said W., C. & Co,,
within the past 7 years.
It is intended that these steamships shall sail
under the British flag and maintain a regular service for passengers and
merchandise between the West Indies, Central America and the United
States.
They will all be equipped with refrigerating plants of
most
modern type, which Insure delivery of the United
Co’s products to
market in the most perfect condition.
Fruit
the
Capitalization of United Fruit Co.
Capital stock (there Is only one class of stock)
$27,056,906
Funded debt: 5% serial debentures, $1,280,000; 4H% deben¬
tures maturing July 1 1923, $4,250,000, and present Issue,
$1,500,000; total
7,030,000
The net Income of $6,552,577 for the year ending Sept. 30 1610 Is morn
than 20 times the annual Interest charges of $322,750 upon the entire pres¬
ent funded debt, including this new issue of $1,500,006 4H% debentures.
Growth of the Company’s Business.
Fiscal
Net
Interest
Capital
Funded
Dividends Accumu’4
Year.
Stock.
Debt.
Earnings. Charges.
Paid.
Surplus
-
$5,532,000 $6,552,576 $260,583 $4,011,472 $13,787,326
1,084,767
1,163.984
12.369.500 4,255,000 1,251,975 153,418
See also annual report in V. 91, p. 1458, 1443.
Election of Three New Directors.—Eugene W. Ong,
William Newsome, Boston, and Crawford H. Ellis of New
Orleans have been elected directors.
Mr. Newsome, is
General Manager of the West Indies department and C. H.
Ellis is Managerof the New Orleans dept.—V.91,p.1458,1443.
THE
CHRONICLE
United States Printing Co. of New Jersey.—Issue.—
This company, which is the lessee
company of the U. S.
retire the
soon
has been
Printing Co. of Ohio, will
stock now in
treasury.
issue $1,000,000 preferred
The New Jersey corporation originally sold $350,000 of the common
stock at pax* and the earnings have accumulated a large
surplus over the
dividend paid on the common.
The entire capital of the U. S. Printing Co.
of New Jersey consists of $1,000,000
preferred and $500,000 common
Stock.—V S3. D. 629.
United States Steel
Corporation.—Unfilled Orders Nov. 30.
—The report of orders given out on Dec. 10 shows unfilled
orders on the books Nov. 30 aggregating
2,760,413 tons,
a reduction of 111,536 tons during November.
Tonnage of Unfilled Orders (00,000 omitted).—All on New Basis.
1910
1909
Oct.
1908
1904
Sept. Aug. July. June. Mch. Dec. June. Mch. Sept. Sept.
3.1
3,5
3,9
4,2
5,4
5,9
4,0
3.5
3.4
2,4
{The present system of computing orders has been in effect for approxi¬
mately three years. Compare V. 91, p. 1333.—Ed.]—V. 91, p. 1158, 1098.
2,8
Utah Consolidated
statement issued
019
Mining Co.—Status of Ore Supply.—A
by Pres. U. H. Broughton says in substance:
In February last year your directors thought it advisable to obtain an
independent opinion upon the ore reserves, and for that purpose J. W.
Finch of Denver, a well-known mining expert, was engaged.
A copy of
his report was annexed to the annual report, in which he
placed the ore
developed and in reserve at 1,121,360 tons, as against 1,237,470 tons
estimated by Mr. Risque, the company's manager.
Since then, up to
Dec. 1 1910, 130,000 tons have been extracted.
Mr. Risque having resigned on Sept. 1 last, R. H. Charming Jr., under
whose management in Utah your company attained its greatest
prosperity,
was appointed consulting engineer.
Mr. Charming reported on Sept. 24
last that from his examination there was not available for
profitable
extraction anything approximating the tonnage given in the last annual
report.
Upon receipt of this report, C. C. Burger, an experienced mining
engineer, was employed to make an examination, and he, under date of
Nov. 28 1910, confirms Mr. Charming's report.
From the reports on file and from additional
investigation, we believe
the following is an accurate statement regarding the
property: Ore in sight,
average 2.32% copper, 0.50 oz. gold, 0.85 oz. silver, 300,000 tons.
From
the large tonnage of ore shown by mine maps and records to
but
which is inaccessible for inspection on account of caves and fills exist,
of waste,
there may be recovered from 100,000 to 250,000 tons.
Other Ore in the
mine is of too low grade for profitable extraction at the
present price of
copper.
The output of profitable ore is limited at present to about 350
tons per day.
Development work Is being pushed at all points, as your directors believe
this feature of more importance at present than the extraction of
ore.
To
regain the position held during 1903 to 1907, it will be necessary to
develop
ore of a higher grade than that mined during
the last two years.
Both
Mr. Charming and Mr. Burger believe that higher-grade ore will be
found in
the unexplored territory.
At present the developments upon the lowest
level are promising, there being 320 feet of drifts and raises in
ore, averaging
2.3% copper.
The aerial tramway, connecting the mine with the
smelting plant of the
International Smelting & Refining Co., at Tooele, has not
yet been taken
over from the builders, but it is now
working satisfactorily.
Your company
has a ten-year contract for the smelting of its ores
upon terms unquestion¬
ably favorable to your company. Compare V. 91, p. 275.
Virginia-Carolina Chemical Co.—To
Be Quoted
on
Paris
Bourse.—Formalities have been concluded for the
listing on
the Coulisse of the Paris Bourse of certificates
a
representing
block of the stock.
The final papers have been sent to Paris by Maurice Leon of 60
Wall
counsel in America for the Parisian bankers who are
St.,
handling the French
end of the transaction.
Blocks of Utah Copper Co. and United States Rubber
Co. shares were
placed on the Coulisse in 1908 by the same French
syndicate, represented
here by Mr. Leon.
The Coulisse of the Bourse is less
closely organized
than the Bourse itself.—V. 91, p. 150, 99.
Virginia Coal & Iron Co.—Controlled RR.—See
RR. under “Railroads” above.
Interstate
Webb
City & Carterville Gas Co.—Change in Control.—See
Empire District Electric Co. above.—V, 82, p. 1046.
IiXXXXI.
$6,473,000 3-year 6% collateral notes due Jan. 1
other purposes, which was adjourned to Dec.
15,
again postponed for One week to permit of the
preparation
of
: Creditor £
necessary legal papers.
Committee.—The creditors’ committee, which
recommended the acceptance of the plan for the extension
of the 3-year notes due Jan. 1 consists of—
Wilson A. Shaw, Robert Wardrop, H. C.
Bughman, James C. Chaplin
Pittsburgh; Horace E. Smith,
S. Moseley, Boston, and Frederick D. Underwood Philadelphia; Frederick
and John F. Wallace of
New York, with James C.
Chaplin, 317 Fourth Ave., PIttspurgh, as Secre¬
tary.—V. 91, p. 1518, 966.
and R. B. Mellon of
WhitaH-Tatum
being
Nov.
2,7
hext, and
IVOL.
Co.—Bonds
Called.—$50,000
5%
loan
bonds dated Jan. 2 1901 have been drawn for
payment at
102 and interest on Jan. 2 1911 at the
Burlington
County
Safe Deposit & Trust Co.,
Moorestown, N. J., trustee.
Whitney Co., North Carolina.—Sale of Hydro-Electric
Plant, &c,—At the foreclosure sale in Raleigh, N. C., on
Dec. 15 the property was bid in for
$490,000 by the reorgani¬
zation committee.
Plan of Reorganization.—The committee of holders
of
-‘1st M. and collateral trust”
6% gold bonds, consisting of
F. J. Lisman, Henry L. Cohen and Charles H.
Mead, with
Lawrence H. Sanders as Secretary (2 Rector
St., N. Y.),
gives notice that their plan of reorganization, dated Dec. 7
1910, has become effective, having been approved by holders of
than 50% of the receipts of the New York Trust
Co.,
depositary. In order that the holders of deposit receipts of
the Bankers' Trust Co. may have
opportunity to participate,
the time for making
deposits with the N. Y. Trust Co. has
been extended to and including
Dec. 27.
more
Digest of Plan—Proposed Capitalization of New
(The Whitney Company has now outstanding "1st Company.
M. and collateral
gold bonds, $4,860,000; capital stock,
$10,000,000.]
(1) $600,000 of 6% gold notes maturing six months
after
payable quarterly, such notes to be extended for a further date, interest
period of six
months at option of holders of a
majority of the voting trust certificates
representing common stock, hereinafter referred to.
Said notes shall be
secured by pledge of the shares of the
preferred and common stock under
the terms of a collateral trust agreement to be
executed to the Savoy Trust
Co., trustee, by the voting trustees hereinafter referred to.
(2) $70,000 of 6% cumulative preferred stock in shares
of $10 each;
preferred also as to assets and with right after payment in
any year of 6%
on common to participate
equally with common shares in all further divi¬
dends in that year, as if all the shares were of the same
class.
(3) $50,000 of common stock in shares of $10 each.
Both classes of stock shall have equal voting
rights and the right is re¬
served to create a voting trust until the retirement of the
issue of
aforesaid, but not to exceed a period of five years—with three notes
voting
trustees to be selected by the committee (two to
represent the pref. stock
and one the
trust” 6%
common).
The $600,000 of 6% notes aforesaid will be sold at
80% and the $70,000
pref. stock will be sold at par, negotiations to that end
having been closed.
The entire issue of common stock will be delivered to the
committee
under
bondholders’ agreement, dated Oct. 10 1910, who shall cause
voting trust
certificates representing same to be issued to the holders of
receipts issued
under said bondholders’ agreement as hereinafter
provided.
The proceeds of the notes and pref. stock aforesaid
shall be applied to
the repayment of the loan of $50,000 and int. obtained in
order to make
the cash deposit at time of sale, to the
completion of the purchase of said
properties, to the payment of the expenses of the committee, and of the
incorporation and reorganization; the balance, if any, to remain in the
treasury of the company for its future corporate purposes. The
expenses
of foreclosure action, together with the mechanic’s lien
of the T. A. Gillespie
Co., wiH approximate $500,000.
Each holder of the New York Trust Co.
receipts for bonds deposited
under the bondholders’ agreement, dated Oct. 10
1910, aforesaid, will
receive, on the surrender of his receipt, $10 par value of common
stock of
the new corporation (or voting trust certificates therefor)
for each $1,000
bond represented by such receipt.
The stock of the Whitney Company
and of its
subsidiary or associate companies shall not be entitled to par¬
ticipate in any way or to receive any benefit from the proposed new oompany.—V. 91, p. 1578, 1188.
Western Electric Co., N. Y. and
Chicago.—Bond Offering.
—The details in connection with the
change in the Per¬
our last issue
(p,
sonal Tax Law, by which bonds are made
1578) have all been sold, but Lee, Higginson & Co. publish
tax-exempt where
they are secured upon real property located wholly or in
their advertisement of the offering on another
page as a part within New York
matter of record.
State, have been completed. Domi¬
The entire $15,000,000 bonds
being out¬ nick & Dominick, 115 Broadway,
have issued a circular from
standing, the mortgage is closed.
which we quote:
Extra Dividends from Surplus
Earnings.—The company
“The holder of such a bond may take the same to the
reports:
Mortgage
Tax Department of the Register’s Office of the
Extra Divs. (%) in Addition to 8% Per An. Paid
Regularly for 29 Yrs.inCash.
—The $6,250,000 1st M. 5s described in
Feb.
1888.
4
Cash
Nov.
1890.
50
Stock
Apr.
Mch.
1894.
14.285
1895.
Jan.
Aug.
Mch.
Mch.
Mch.
Dec.
1898.
1899.
1901.
1902.
1903.
1910
50
16.666 22.857 14.287
25
20
2
Stock Stock Stock Stock Stock Stock
Stock
Cash
The special cash dividends as above aggregate
$340,000 and the stock
dividend $8,050,000.
If we add to these the profit of
holders from the right to subscribe at par in 1906 for $4,530,000 to share¬
30,000 shares worth
after issue, $250 a share, we have a grand total of
1,300% on the $1,000,000 stock as it stood in 1888. $12,920,000, or nearly
Sale of Old Plant.—The company’s extensive
property on
Clinton St., Chicago, representing an
original investment
$3,718,316, has been sold to a syndicate (W. V. Kelley,
R. P. Lamont and George E. Scott, of Am. Steel
Foundry
Co.,and others,) and will be rented to small
manufacturing
industries.
“Chicago Inter-Ocean” Nov. 13 said:
of
The Western Electric has now disposed of the greater
part of its Chicago
surplus real estate, which consisted of its Polk St. and Clinton St.
Nearly $4,000,000 received for the property will be added to itsproperty
already
large working capital, and will render financing
unnecessary in 1911.
Recently the company appropriated $1,000,000 for new
at Haw¬
buildings
thorne, and doubtless before the lease expires on the 500,000
sq. ft. of the
Clinton St. property which the company still
occupies (under 2-year lease
for general office purposes), it will be
necessary to erect further new build¬
ings at Hawthorne to carry out the policy of concentration.
Western
Electric is employing 24,000 men.
Compare V. 91, p. 1578.
Western Union
six months
3 Mos. ending
Dec. 31—
1910
1909
6 Months—
Telegraph Co.—Earnings.—For three
ending Dec. 31 (partly estimated in 1910):
Net
Earnings.
$1,660,000
1,747,200
Interest on
Bonds.
Dividends
Paid.
and
Balance,
(% %)$747,796
(H%) 747,639
Surplus.
$479,141
566,498
3,601,067
866,125
(1 ^%)1,495,566
3,676,475
866,125
(1H%)1.495,131
surplus Dec. 31 1910 (estimated), $8,973,068
-V. 91, p. 1451, 1022.
1,239,376
1,315,219
1909
Total
$433,063
433,063
Westinghouse Machine Co., Pittsburgh .—Meeting Post¬
poned to Dec. 22.—The special meeting of stockholders to
consider
an
increase in the indebtedness of the
company to
county in which the mortgage was first recorded, and file
there a statement by which the bond can be
identified, &c.
Then a stamp will be affixed to the bond on the
payment of
$5 for every $1,000 bond, or at that rate; this
stamp
is in
the nature of a postage stamp,
similar to those affixed by
foreign governments. Bonds so stamped are exempted
forever from all personal taxation in the State or
city of New
York.
A great many bonds can be
stamped in New York
City at the office of the Mortgage Tax Department, Regis¬
ter’s Office, Hall of Records, Chambers Street.”
Bonds so
stamped are “good delivery” on the New York Stock Ex¬
change. An editorial reference was made to this amend¬
ment of the Tax Law in the issue of the “Chronicle” of Nov.
26, page 1413.
—The December circular of investments issued
by the
bond department of the Milwaukee Trust Co. of Milwaukee
contains considerable important information valuable to
investors
on the following well-known
electric, gas and rail¬
properties: The Union Electric Light & Power Co. of
St. Louis; the Portland Gas & Coke Co. of
Portland, Ore.;
the Chippewa Valley Railway, Light & Power
Co., the North
Shore Electric Co., the San Diego Cons. Gas & Electric
Co.,
of California; the Milwaukee Light, Heat & Traction
Co.,
the Southern Wisconsin Power Co. of Kilbourn,
Wis.;
the
Rockford & Interurban Ry. Co., the Western United Gas
& Electric Co. and the Spokane & Inland
Empire RR. Co.
The bonds net the investor from 4.50 to
5.40%. Robert
Camp is President of the company and Dean Jay, manager
of the
way
bond department.
—Mayer & Co., 11 Wall St., announce the retirement of
Baylis from the firm and the admission to partner¬
ship of Mr. Justus G. Dettmer.
Mr. A. B.
THE CHRONICLE
Dec. 17 1910.
AB..——MMiilleeaagg
1637
JjjUptfrls and gncmnjenis.
SOUTHERN PACIFIC COMPANY
AND PROPRIETARY COMPANIES.
TWENTY-SIXTH ANNUAL REPORT- -FOR THE YEAR ENDED JUNE 30 1910.
New
To the Stockholders of the Southern Pacific Company;
The Board of Directors submit herewith their report of the operations
and of the Proprietary Companies for the fiscal year ended June 30 1910.
The
York, November 29 1910.
and affairs of the Southern Pacific Company
PROPERTIES AND MILEAGE.
transportation lines constituting the Southern Pacific System June 30 1910
follows:
were as
■*
»
DIVISIONS.
First
Main
Additional
Track.
Track.
Main
Sidings.
Water
Lines.
Ferries.
oj lines belonging to Companies whose capital stocks are principally owned by the
Southern Pacific Company:
(1)—Operated by the Southern Pacific Company under leases to It:
Central Pacific Ry
Nevada & California Ry
Oregon & California RR
Southern Pacific RR__
South Pacific Coast Ry
1.516.05
-
62.21
732.54
62.63
118.93
10.90
102.98
8.05
1,273.24
3.00
3.00
40.21
199.44
64.51
169.68
304.80
46.57
6.84
219.66
52.91
443.96
666.15
*3,618.00
—
97.13
(2>—Operated by the Companies owning them:
Morgan’s Louisiana & Texas Railroad & Steamship Co
Louisiana Western RR
Texas & New Orleans RR
Galveston Harrisburg & San Antonio Ry
Houston East & West Texas Ry_„
Houston & Shreveport RR
348.00
198.00
452.60
—
Southern Pacific Company
_
3.46
4.42
1,338.33
190.94
39.78
789.01
Houston & Texas Central RR
1.27
10.51
11.80
^
45.70
125
2.00
114
5.071
of lines belonging to Companies whose capital stocks are principally owned by the
Morgan's Louisiana A Texas RR. tdb SS. Co., but which are operated by the Companies
owning them:
Iberia & Vermilion RR
Direct
15.64
5.85
Navigation Co
75
Total
9,725.39
233.11
3,303.30
18.90
5,385
18.90
18.90
5,385
5,385
C.-
88.19
263.45
Total
351.64
Total mileage June 30 1910.
Total mileage June 30 1909.
Increase
11.14
27.83
"
—»
** **
— —
—‘
-
38.97
■
stocks are owned otherwise than by the Southern Pacific Company:
New Mexico & Arizona RR
Sonora Railway
9,976.54
233.11
228.78
3,342.27
3,199.45
100.49
4.3$
142.82
10,077.03
.
l
•
way
Includes line of Southern Pacific Railroad Co. from Mojave, Cal., to the Needles, 242.51 miles, leased to the Atchison Topeka & Santa Fe Rail¬
Co. until September 1 1979 for an annual rental of $218,133 00; also 12.98 miles leased to other companies.
The details of the mileage of the railways owned or leased and of the ferries and water lines are shown in Table No. 1
of the report of the Vice-President and Comptroller.
The additions to the miles of railway owned or operated and the changes during the year in first and additional main
tracks of the respective companies and companies organized in their interest were as follows:
Additions.
Deductions.
f
First
Main
Additional
Track.
Track.
Main
Central Pacific Railway:
Oakland to Melrose, built,
opened for traffic June 30 1910
Brighton to GIvar, built, opened for traffic Septemher 1 1909
Elmhurst to Stonehurst, built, opened for traffic October 10 1909
Lawton to Sparks, built, opened*for traffic May 3 1910
Deeth to Wells, change in line
Deeth to Wells,' abandoned main line transferred to sidings
Transferred from sidings
1
3.18
.73
4.03
_
.75
__
__
•
•
16.38
_
18.65
5.36
....
r
.03
-
4.42
i.
_
_
'
_
Main
Track.
.30
__
Re-measurements
~~
Galveston Harrisburg A San Antonio Railway:
Transferred from sidings
Re-measurements
~
_
Additional
First
Main
Track.
.04
__
i
ri
f
Inter-California Railway:
Tecolote to Hanlon Junction, built, opened for traffic August 1 1909
Louisiana Western Railroad:
f* Re-measurements
Morgan's Louisiana A Texas Railroad A Steamship Co.:
Re-measurements
Nevada A California Railway:
Mabel to‘Weiwee, built,, opened
Hatwen to
__
f ■*
.28
.15
2.95
r
for traffic November 17 1909
Olifnehe, built,"opened for traffic March 19 1910._
California Railroad:
Re-measurements
Oregon A
21.71
.
__
__
_
_
__
12.58
9.20
*
*
’
:
_
.08
;
Southern
Pacific Railroad:
Mayfield to Viwnna, surrendered to owner December 19 1909
Change in traelrage rights over Northwestern Pacific RailroadRe-measurements”
”
Tucson A Nogales Railroad:
Tucson to Kahnarita, purchased from Twin Buttes RR. Co. June 19 1910.
Sahnarlt.a to
hufit, opened for traffic June 19 1910
13.41
_
6.23
__
17.76
37.69
.
Texas A New Orleans Railroad:
Leased from Texas State Railroad
Re-measurements
During the
year
there
.24
.43
22.42
13.84
__
-
was a
*
.53
_
1
Total
.23
.
-
-
18.17
122.91
net increase in sidings of 142.82 miles.
The average number of miles of railway
operated for the year, for which the accompanying statements of revenues
submitted, was 9,752.26 miles.
Excluding the Mojave division, leased to the Atchison Topeka & Santa Fe Railway Company, and mileage leased to
other companies, the operated mileage of the Company’s lines on June 30 1910 comprised 9,458.10 miles of “Proprietary,”
(\A milna nf <<\Tnn
nn4 11 QO milaC rtf 110 Wn6cl ’ ’
frtfal of
Q Q91 -f5A miles.
m 11043
351.64
^,r,DC!
a total
rtf 9,821.54
miles of “Non-proprietary’> > and
11.80 miles of “Owned” lines—a
and expenses are
r. vtt
INCOME FOR THE YEAR.
The gross
receipts and disbursements of the Southern Pacific Company in respect of its leased lines and of the Pro¬
prietary Companies in respect of lines not leased, and the other receipts and disbursements of the Southern Pacific Company
n.nrl nf snnh Prrtnriofortr Oomnonioc!
offor ovolurlinor all nffspf.tincr transantinn« hpfwppn t/hpm
Year Ended
June 30 1910.
Average miles of railway operated—proprietary and
non-proprletary
.
wprp
ns
fnllnws*
Year Ended
June 30 1909.
+Increase.
—Decrease.
9,752.26
9,626.43
+ 125.83
$124,523,905 08
$110,846,404 46
10,498,701 79
9,675,504 28
+ $13,677,500 62
+823,197 51
$135,022,606 87
$120,521,908 74
+$14,500,698 13
TRANSPORTATION OPERATIONS.
Gross operating revenues
Outside operations—revenues
Total
__
1638
Operating
THE CHRONICLE
expenses
Outside operations—expenses
Taxes (rail lines and properties dealt with as outside operations)
Total
Revenue
over
expenses
and taxes—
[VOL.
Year Ended
June 30 1910.
Year Ended
June 30 1909.
$73,514,034 42
9,750,813 57
4,519,374 01
$67,191,874 66
8,604,258 34
3,788,242 14
+ $6,322,159 76
+ 1,146,555 23
+731,131 87
$87,784,222 00
$79,584,375 14
+$6,199,846 86
$47,238,384 87
$40,937,533 60
+$6,300,851 27
INCOME OTHER THAN FROM TRANSPORTATION OPERATIONS.
Interest on bonds owned of Proprietary Companies (Table No. 4)
Interest on bonds owned of companies other than Proprietary Companies (Table No. 4)__.
Dividends on stooks owned of companies other than Proprietary Companies (Table No. 5)
Income from lands and securities not pledged for redemption of bonds
Inoome from sinking funds pledged for the redemption of bonds
Balance of Interest received on loans and of interest accruing to June 30 on open accounts other
than with Proprietary Companies—
Miscellaneous Inoome
-
-
Surplus
_T._
$854,174
1,285,723
•5,939,573
894,164
161,514
-
+ Increase.
—
Decrease.
84
65
28
31
97
$819,018 73
1,508,878 56
65,150 84
1,430.663 96
60,177 50
+ 78,214 60
+ 4,973 34
$10,709,180 45
$5,197,722 33
+$5,511,458 12
$57,947,565 32
$46,135,255 93
+ $11,812,309 39
$20,200,665 24
$17,121,743 73
572,800 00
-
Total
LXXXXI.
867,711
992,492
821,858
205,800
+ $35,156
+ 418,011
+ 4,947,081
+ 72,306
—44,285
80
22
12
00
11
85
06
19
03
FIXED CHARGES.
Interest
on
outstanding funded debt of Southern Pacific Co. and Proprietary Companies (Table
No. 6).._
Sinking fund contributions and Income from sinking fund investments
Hire of equipment—balance
404,051 30
+ $3,078,921 51
—194,285 63
+ 44,291 47
$21,027,522 98
$18,098,595 03
+$2,928,927 95
—208.739 69
378,514 97
448,342 77
—
Less rentals for lease of road, for joint tracks, yards and other facilities, viz :
_
Collections
Payments
$719,619 88
398,734 68
Total fixed
charges.
ESS
Surplus over fixed charges.
326.885 20
529,624 89
$20,706,637 78
$17,568,970 14
+ $3,137,667 64
$37,240,927 54
$28,566,285 79
+ $8,674,641 75
OTHER CHARGES.
Land department expenses
Taxes on
$113,866
278,085
29,260
317,082
511,819
granted and other lands
Miscellaneous expenses
Taxes and other expenses of Southern Pacific Company
Additions and betterments payable from income of Southern Pacific Company
Reserve for depreciation of rolling stock owned by Southern Pacific Company and leased to
other Companies
Total other charges.
Surplus
over
fixed and other charges.
28
58
10
52
89
$103,286 95
246,181 00
54,934 68
414.668 92
503,847 75
+ $10,579
+ 31,904
—25,674
—97,586
+ 7,972
+ 163,630 86
33
58
58
40
14
527,594 94
363,964 08
$1,777,709 31
$1,686,883 38
+$90,825 93
$35,463,218 23
$26,879,402 41
+ $8,583,815 82
•
Includes $4,590,000 extra dividend received from Wells, Fargo & Co.’s Express.
Surplus over fixed and other charges brought over
Appropriated for surveys and for water power examinations
*
$35,463,218 23
46,322 69
-
Balance
Applied
as
$35,416,895 54
follows:
Dividends on common stock, viz.:
1 Vi per cent, paid January 1 1910
$4,089,436
1H per cent, paid April 1 1910.
1
4,090,073
1 Yi per cent, payable July 1 1910—
4.090,084
1)4 per cent, payable October 1 1910
4,090,084
Dividend paid October 1 1909 on common stock exchanged for preferred stock and for convertible bonds between
July 1 1909 and October 1 1909
878,213
Dividends on stocks of Proprietary Companies.
454
...
62
90
15
58
68
00
17,238,346 93
Surplus after payment of dividends..
$18,178,548 61
The income herein dealt with is that of the Southern Pacific
Company and of such “Proprietary Companies” as are
reported in Table No. 15. A statement of the income of other transportation lines whose capital stocks are principally
owned by the Southern Pacific Company will be found in Table No. 37.
The Company’s ownership of stock of the Pacific
Mail Steamship Company is slightly over one-half.
Its income and its affairs are therefore separately reported and will be
found in Table No. 38.
The year's income is
charged with $378,514 97 for sinking fund contributions and income from sinking fund investments
pledged for the redemption of bonds. The proceeds from the sale of lands, also pledged for the redemption of bonds,
amounted to $1,125,328 96.
These sums, aggregating $1,503,843 93, are dealt with as profit and loss items and result in
the reduction of the bonded1 indebtedness of the Companies
owning the lands.
The results of the year’s operations, compared with those of the
preceding year, were as follows:
Increase.
Average miles of railway 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
1.31
$14 ,500, 698 13
12.03
9.85
19.30
15.39
106.04
25.60
17.86
5.38
31.93
7 .468 714
731 131
6 ,300, 851
5 .511 458
11 ,812 309
3 .137, 667
90 825
8 ,583, 815
Surplus
Fixed charges
Other °harges
Surplus over fixed and other charges
Per Cent.
125.83
99
87
27
12
39
64
93
82
The details of the transportation revenues and expenses are
Prior to July 1 1909 it was the practice of the
fully dealt with under “Transportation Operations.”
Companies to charge to the operating expenses the protection of banks
and drainage, the increased weight of rail, the greater
weight and the improved types of frogs, switches, fastenings and other
track material used in making renewals; also all Additions and Betterments which did not exceed in the cost
of any one
improvement the sum of $300. In the classification of the Inter-State Commerce Commission, however, this limit was
reduced to $200.
The classification of expenditures for Additions and Betterments
promulgated by the Inter-State Com¬
merce Commission, effective July
1 1909, requires that these items be charged to Additions and Betterments, and accord¬
ingly the following proportions of such expenditures were charged to capital account:
\
For
For
For
For
For
protection of banks and drainage
;
increased weight of rail
improved frogs and switches
track fastenings and other track material
bridges, trestles, culverts, buildings and other minor improvements
Total
$202,605 18
-
673,505
39,267
262,583
228,251
18
46
97
28
$1,406,213 07
These changes in accounting regulations diminished
by $1,406,213 07 the expenses for Maintenance of Way and Struc¬
tures as heretofore charged by the
Companies,
and
augmented the surplus for the year.
correspondingly
The details of the interest and the dividends collected on bonds and stocks owned are shown in Tables Nos. 4 and 5.
The increase of $4,947,081 06 in dividends on stocks owned of
principally from
Companies other than Proprietary Companies resulted
extra dividend of $4,590,000 00 received from Wells, Fargo & Co.’s Express.
The details of the interest paid and accrued to June 30 1910 on the
outstanding funded debt are shown in Table No. 6.
The increase of $3,078,921 51 resulted
principally from the payment of a full year’s interest on the Southern Pacific Com¬
pany’s Four Per Cent Twenty-Year Convertible bonds sold last year.
Under the provisions of their leases to the Southern Pacific
Company, the expenditures for additions and betterments
to the properties of the South Pacific Coast
Railway Co., the New Mexico & Arizona Railroad Co. and the Sonora Railway
an
payable by the Lessee, and are, therefore, a charge to its income. These expenditures amounted to $511,819 89.
The expenditures charged to
Capital account of the Proprietary Companies for “Betterments” (enlargements or im¬
provements of the existing roadway, structures, equipment or other facilities) amounted to
$3,232^309 92; and for “Addi¬
tions” (additional roadway,
structures, equipment or other facilities not taking the place of anything previously existing)
amounted to $6,638,180 12, a total of
$9,870,490 04. The details of these expenditures are shown in Table No. 26.
A combined statement of the Income
account, the Profit and Loss account and the Receipts and Expenditures from
all sources of the Southern Pacific
Company and of the Proprietary Companies will be found in Tables Nos. 2, 3 and 7.
are
Deo, 17 1910.]
THE CHRONICLE
1639
The details of the Income account and of the Profit and Loss account of the Southern Pacific
Nos. 9 and 10 and of the Proprietary Companies in Tables Nos. 15 and 16.
Company
are
shown in Tables
CAPITAL STOCK.
Stocks of the Southern Pacific Company outstanding at the beginning of the year:
Common
Preferred
$213,910,358 64
58,626,765 00
---
Issued during the year:
Common stock Issued In exchange for $661,960, face value, Four Per Cent Twenty-Year Convertible Gold Bonds
converted at the rate of $130 per share of $100 per value
Common stock Issued against the deposit of $1,052,828 par value Southern Pacific Railroad Company stock
Common stock issued In exchange for a like amount of preferred stock called for redemption on or before
July 15 1909
^
$272,537,123 64
„
Total
Deduct: Preferred stock converted for a like amount of common stock
$509,200 00
694,867 00
58,390,700 00
$59,594,767 00
--
58,390,700 00
1,204,067 00
$273,741,190 64
Retired during the year:
Common stock In treasury surrendered and canceled against $4,164,100 par value, capital stock of the Mexican Inter¬
national Railroad Company withdrawn
Preferred stock, retired and cancelled, in exchange for Four and One-Half Per Cent Twenty-Year
Bonds..$155,000 00
Preferred stock, surrendered for cash ($115 per share)
62,740 00
j
J
J
_
$832,820 00
_
217,740 00
1,050,560 00
Total Southern Pacific
Company stock outstanding June 30 1910
$272,690,630 64
Increase during the year
$153,507 00
Central Pacific Railway Company Four Per Cent Cumulative Preferred Stock issued
tures for additions and betterments other than on the Ogden-Lucin cut-off
Common and Preferred Stocks of the Proprietary Companies
at the
during the
year
for reimbursement
of
expendi¬
$3,200,000 00
335,616,272 00
_
Total stocks of
Held
as
_
beginning
outstanding
of the year
Proprietary Companies outstanding June 30 1910
$338,816,272 00
follows:
.
Deposited by Southern Pacific Company against the issue of its common capital stock
Deposited by Southern Pacific Company against the issue of Its Four Per Cent (Central Pacific Stock Collateral) Bonds. $164,978,961 00
84,274,200 00
Free In treasury of Southern Pacific Company
89,139,637 50
Free in treasury of Morgan’s Louisiana & Texas Railroad &
Steamship Company
"
_
_
349,500 00
358,742,298 50
Stocks of Proprietary Companies outstanding in the hands of the Public June
30, 1910
Stocks of Proprietary Companies outstanding in the hands of the Public last
year
$73,973 50
74,373 50
■
Increase during the year in stocks owned by the Southern Pacific
Company
The details of the stocks owned
by the Southern Pacific Company
Companies in Table No. 19.
—,
$400 00
are
shown in Table No. 12 and by the Proprietary
FUNDED DEBT.
In order to reimburse the Southern Pacific
Shore Line, referred to in the annual report for
Company for the expenditures incurred in the construction of the Bay
1908, for the cost of future additions and betterments thereto, and for the
expenditures incurred in the acquisition of terminal real estate and properties in the counties of San Francisco and San Mateo,
California, and for the improvements thereon, the Board of Directors authorized an issue of not exceeding $50,000,000,
face value, “San Francisco Terminal First
Mortgage Bonds,” to be dated April 1 1910, payable April 1 1950, to bear interest
at such rate or rates not exceeding 5 per cent
per annum, payable semi-annually, as shall be fixed from time to time by the
Board of Directors.
Bonds to the amount of $25,000,000, face
value, bearing interest at the rate of 4 per cent per annum,
were authorized and
$15,000,000, face value, thereof have been taken up in this year's account.
The Southern Pacific Company Two-Five-Years Four Per Cent
Mortgage Bonds which matured June 1 1910 were paid
off and the mortgage satisfied and discharged.
Bonds to the amount of $30,000,000, face value, were authenticated by the
Trustee, but $7,253,000 bonds only were sold to the public.
On February 1 1910 there matured $4,756,000, face
value, Galveston Harrisburg & San Antonio Railway Company
First Mortgage Eastern Division Six Per Cent Bonds.
Under the rulings of the Railroad Commission of Texas it was im¬
practicable to issue new bonds to refund the bonds thus maturing; hence arrangements were made whereby the date of
maturity was extended by suitable endorsement, without impairment of the lien and with interest at the same rate, to the
1st day of August 1935, and the bonds thus extended
amounting to $4,728,000 were acquired and are now held by the
Southern Pacific Company.
The changes in the funded debt of the Southern Pacific Company and of the
Proprietary Companies during the year
were as follows, viz.:
Bonds, Equipment Trust Obligations, and other fixed Interest-bearing oblgations of the Southern Pacific
Company and of the Pro¬
prietary Companies outstanding at the beginning of the year, including income bonds to the amount of $6,354,000
$476,618,858 59
Issued during the year:
Southern Pacific Company—
Four Per Cent Twenty-Year Convertible Gold Bonds, for balance of subscriptions
$1,917,454 29
Four and One-Half Per Cent Twenty-Year Gold Bonds Issued in exchange for a like
amount of
Preferred Stock surrendered and canceled
155,000 00
San Francisco Terminal First Mortgage Four Per Cent Bonds
15,000,000 00
$17,072,454 29
Southern Pacific Railroad Company—
First Refunding Mortgage Four Per Cent Bonds issued for the
following purposes:
For additions, betterments, extensions, and branches
$1,642,000 00
For outstanding old bonds paid off and deposited with Trustee
3,986,000 00
For expenses of refunding outstanding old bonds
1,992,000 00
7,620,000 09
24.692,454 29
$501,311,312 88
Deduct—-Bonds retired:
Southern Pacific Company—
Six Per Cent Steamship Bonds purchased
and canceled
Four Per Cent Twenty-Year Convertible Gold Bonds converted into common stock at the rate of
$130, face value,
In bonds for each $100, par value, In stock
Two-Five Years Four Per Cent Bonds due June 1 1910 paid off
Central Pacific Railway Company—
First Refunding Mortgage Four Per Cent Bonds purchased from payments to Sinking Fund and canceled
Three and One-Half Per Cent Mortgage Gold Bonds:
Purchased from sale of lands and canceled
$125,500 00
Purchased from sale of securities and canceled
82,000 00
Purchased from Sinking Fund and canceled
27,500 00
Galveston Harrisburg & San Antonio Railway Company—
First Mortgage Eastern Division Six Per Cent Bonds, due February 1 1910 paid off
Houston & Texas Central Railroad Company—
Bonds called for redemption or purchased from proceeds of lands sold and canceled, viz.:
First Mortgage Five Per Cent Bonds
Consolidated Mortgage Six Per Cent Bonds
Southern Paclfio Railroad Company—
S. P. RR. (of Arizona) First Mortgage Six Per Cent Bonds, Series “B,” due March 1 1910, paid off..
First Refunding Mortgage Four Per Cent Gold Bonds purchased from payments to Sinking Fund
and canceled
$71,000 00
661,960 09
7,253,000 09
26,000 09
235,000 00
28,000 09
$410,000 00
390,000 00
800.000 00
$4,000,000 00
13,000 00
4,013,000 09
Texas & New Orleans Railroad Company—
Six Per Cent Equipment Bonds
paid off
Payments to State of Texas for account of School Fund Debt
$136,000 00
5,916 53
141,916 53
13,229,876 53
Amount of funded and other fixed
Interest-bearing debt, Southern Pacific Company and Proprietary Companies, including $6,354,000
income bonds, outstanding June 30 1910.
$488,081,436 35
Increase daring the year
The outstanding bonds are held
In the hands of the Public
$11,462,577 76
as
follows:
r
Free in treasury of Southern Pacific
Company I
me
ol Proprietary Companies
In linking Funds of
ln^treasuries
Proprietary Companies
V.
V
-
-
_
,
-
__
-
1
..$456,363,936 3$
$17,751,500 00
.
1,618,000 00^ ,\-:n
T ,i ; : : ■
12,348,000 00
:
h
31,717,600 00
U’ , • m..
—;—$488,081,436 35
-
„
.1
■>.
^
.
,
,
„
:
1640
THE CHRONICLE
[VOL.
LXXXXI.
Discount and commissions amounting to $1,992,18175on securities sold
during the year was written off to Profit and Loss.
The total amount of bonds outstanding and the annual interest
thereon are shown in detail in Table No. 8;
accruing
the amount of bonds owned by the Southern Pacific Company
in Table No. 13; the amount owned by the Proprietary
Companies in Table No. 19, and the amount in Sinking Funds in Table No. 21.
ASSETS AND LIABILITIES.
The details of the assets and liabilities of the Southern Pacific
Company are shown in Table No. 11, and those of the
Proprietary Companies in Tables Nos. 17 and 18. The value of the granted lands belonging to the Central Pacific Railway
Company, the Oregon & California Railroad Company and the Southern Pacific Railroad Company, which remained unsold
at the close of the year, is not included in the statement of the assets of said
companies, but the proceeds and all trans¬
actions in respect of said lands are shown in Tables Nos. 22 and 23.
The resources of the Southern Pacific Company and Proprietary
Companies for the year and the disposition made
thereof (excluding offsetting accounts between them), briefly stated, were as follows:
Cash on hand July 1 1909
Increase during the year In outstanding stocks and bonds of Southern Pacific Company, Table
No. 11
Increase during the year in outstanding stocks and bonds of Proprietary Companies, Table No. 18
Borrowed from Union Pacific Railroad
Increase In current cash liabilities
Company
$32,190,097 41
$9,240,001 29
5,576,083 47
—
Sinking fund investments released on maturity and redemption of bonds
Less increase In sinking funds and trust funds
$1,399,603 48
331,942 49
-
Increase In reserve for refunding outstanding old bonds of Southern Pacific RR. Co
Increase in reserve funds and other contingent liabilities
Decrease in contingent assets
Gain in profit and loss, viz.:
Income from transportation
mapui tawuu operations—
owuuo-.
in from
Income other than
'
transportation operations
Profits on stocks sold, proceeds from sale of lands, and other profit and loss credits
14,816,084 76
10,901,568 97
1,670,780 31
1,067,660
1,566,151
949,946
2,777,248
_
—
-
_
99
50
75
85
$
±oD9U64 ,OUO O
$135,022,606
87
i
.......
10,709,180 45
9,261,788 92
Operating expenses and taxes
Fixed and other income charges
Deduct:
$87,784,222 00
Dividends on common stock
*
Discount and commission on capital issues
Reserve for refunding outstanding old bonds of Southern Pacific RR. Co. and other
profit and
loss charges
$154,993,576 24
22,530,669 78
17,238,346 93
1,992,181 75
4,895,438 30
134,440,858 76
20,552,717 48
Total
resources
for the year
as follows:
For construction of
_
$86,493,157 02
Applied
new
Expenditures’’
lines; additions, betterments, equipment and other property, as shown in detail under “Capital
For stocks and bonds of Proprietary Companies acquired
Purchased for cash
Taken over in settlement of advances
Deduct:
cost
on
books of securities
during the
sold, exchanged, redeemed
or
year, as
shown In detail in Tables Nos. 12 and 13;
$6,106,769 67
13,470,487 57
$19,577,257 24
canceled
715,921 12
For stocks and bonds of other companies acquired during the year, as shown in detail In Table No.
14:
Purchased for cash
$10,565,351 61
Deduct: cost on books of securities sold, redeemed or canceled
2,700,967 85
$1,602,979 49
527,916 78
Increase in material and supplies
Increase in loans; deposits and notes receivable
_
Balance—Cash
on
18,861,336 12
7,864,383 76
Increase in current cash assets
Deduct: decrease in delerred assets
’
$38,157,575 91
^
_
_
1,075,062 71
1,585,081 72
7,722,494 47
$75,265,934 69
11,227,222 33
hand June 30 1910
$86,493,157 02
The combined assets and liabilities, excluding therefrom the stocks of the
issue of stocks and bonds of the Southern Pacific
Company, also the
Company and the Proprietary Companies
on
Proprietary Companies deposited against the
offsetting open accounts between the Southern Pacific
June 30 1910, summarized, were as follows:
Capital Assets.
Cost ol road and franchises
Stocks and bonds of Proprietary
Stocks and bonds of other companies—unpledged
Bay Shore Line Terminals, and other real estate
Timber treating plants, saw-mills and other property
Steamships and other
Rolling stock
floating
$734,865,369 03
45,408,883
51,551,638
31,938,448
404,698
equipment
12,625,710
16,222,784
33,545,888
35,965,601
12,103,947
4,086,700
1,165,212
1,908,905
14,773,183
692,473
Advances for construction and acquisition of new lines
Advances to Southern Pacific Railroad Company of Mexico.
Advances to electric lines in California
Advanses to Kern Trading & Oil Co
Advances to Pacific Fruit Express Co
Lands and other investments
Sinking funds
Trust funds
Current
Cash
Time loans and deposits
Cash accounts
Material and supplies
Lands and other investments.
and
Deferred
94
95
59
70
07
92
99
75
75
63
25
19
62
15
$997,259,447 53
Assets.
$11,227,222 33
17,047,375 62
15,892,508 33
14,679,725 04
711,147 41
59.557,978 73
Contingent Assets.
San Antonio & Aransas Pass Railway Co
Expenditures closing crevasse of Colorado River,
Unadjusted accounts
Land contracts
protection
of
levees!
$1,390,753 59
&c
4,022,480 29
739,133 29
1,150,087 17
7,302,454 34
Total
$1,064,119,880 60
Capital Liabilities.
Southern Pacific Company, common stock
Southern Pacific Company, preferred stock, called for
redemption but not presented
_
Proprietary Companies;
Common stock (stock pledged by Southern Pacific
Preferred stock (stock pledged by Southern Pacific
Southern Pacific Company,
Company excluded)
Company excluded) 111111II *
$272,672,305 64
18,325 00
77,563,111 00
12,000,000 00
$362,253,741 64
funded debt
$126,792,540 00
361,288,896 35
Proprietary Companies, funded debt
488,081.436 35
Total stocks and bonds
Current and Deferred
Interest and dividends matured—unpaid _j
Interest and dividends due July 1 and October 1
Interest accrued to June 30, but not due
Due to Union Pacific Railroad Co
Vouchers and pay-rolls
Other cash accounts
Deferred liabilities
$644,155
11,717,373
4,007,538
10.901.568
12,058,556
1,297,328
1,702,393
Contingent Liabilities.
Insurance funds
Rolling stock and floating equipment depreciation and replacement funds
Unadjusted accounts
Principal of deferred payments on land contracts..
Fund for refunding outstanding old bonds of Southern Pacific
,
„
00
73
47
97
12
61
87
42,328,914 77
J
.
Railroad~CoIIIIIIIIIIIIIIIIIIIIIIIIH-I
Difference between par value of stocks of
Proprietary Companies and the par value of stock and face value
of bonds of the Southern Pacific Company Issued therefor
*
Balance to credit of Profit and Loss..
“
Total
$850,335,177 99
Liabilities.
$5,119,725 50
7,130,144
3,113.859
1,626,647
2,539,604
44
32
59
38
19,529,981 23
16,720,493 59
135,205,313 02
$1,064,119,880 60
Dec. 17
THE CHRONICLE
1910.]
SINKING FUNDS.
/
Amount to the credit of the Sinking Funds of
of the year
1641
the Southern Pacific Company and of the respective Proprietary Companies at the beginning
.$16,005,767 95
Receipts during the
year:
Income from investments
Annual requirements of mortgages
Total receipts to
$296,814 97
217,000 00
be applied to redemption of bonds.
Total
-
-
-
513,814 97
$16,519,582 92
-
paid for the following bonds purchased and canceled:
$71,000, face value, Southern Pacific Co. Steamship First Mortgage Six Per Cent Bonds
$26,000, face value, Central Pacific Ry. Co. First Refunding Mortgage Four Per Cent Gold Bonds
$109,500, face value. Central Pacific Ry. Co. Three and One-Half Per Cent Mortgage Bonds
$13,000, face value. Southern Pacific RR. C.o. First Refunding Mortgage Four Per Cent Bonds
Premium on bond called for redemption
Bonds and cash on hand held in Sinking Fund for redemption of Southern Pacific Railroad Co. (of Arizona) Six Per
Cent Bonds released upon the redemption of the remaining outstanding bonds, which matured March 1 1910, viz.:
Cost of bonds
$1,374,352 85
Cash uninvested.
25,250 63
Deduct amount
$74,550
25,319
99,206
12,374
00
54
90
08
45 30
-
1,399,603 48
$1,611,099 30
135,300 00
Income from investments taken up in Income Account.
1,746,399 30
Balance June 30 1910, consisting of the cost of bonds purchased for investment and cash uninvested, viz.:
Southern Pacific Company
$1,044 00
14,772,139 62
-$14,773,183 62
Proprietary Companies
are
The Sinking Fund transactions of
shown in detail in Table No. 21.
each
company,
the securities held and the cash
on
hand for account of each fund
LAND DEPARTMENT.
The transactions in respect
of the lands pledged for the redemption of bonds
follows:
were as
Number of acres sold
Total amount of sales (cash and principal of deferred payments)
Interest on deferred payments and other collections
377,830
_
_
$1,820,776 60
461,125 63
_
_
Total
$2,281,902 23
Deduct: Expenses and taxes.
Amount applied to payment
of Interest
on
$306,719 94
Central Pacific Ry. Co. 3 ^ Per Cent Bonds
86,132 90
392,852 84
Amount remaining for redemption of bonds.
Average price received per acre
Number of acres ol land remaining unsold June 30 1910
Amount of land contracts outstanding June 30 1910._
$1,889,049 39
$4 40
13,879,932
$2,366,594 15
The above statement includes transactions in respect to the lands formerly belonging to the Houston & Texas Central
Railway Company. Under the Trust Indenture executed by Frederick P. Olcott, the purchaser thereof at foreclosure sale,
the proceeds from the sale of these lands are to be applied to the purchase and cancellation of bonds of the Houston & Texas
Central Railroad Company issued under its First Mortgage and its Consolidated Mortgage.
The cash payments to the respective Trustees, to be applied by them to the redemption of bonds, amounted to $1,171,631 85.
Bonds to the amount of $924,500 00, face value, were either purchased or called by them for redemption and can¬
celed after payment.
On June 30 1910 there remained in the hands of the Trustees and of the Companies $1,285,441 05
for the further redemption of bonds.
The details of the year’s transactions
Trustees in Table No. 23.
of each
company are
shown in Table No. 22 and the accounts with the respective
•
CAPITAL EXPENDITURES.
The
expenditures for additions and betterments to completed lines, for the construction of
as capital accounts, were as follows:
new
and for other items dealt with
For Additions and Betterments,
as
lines, for equipment,
detailed In Table No. 26; viz.:
Roadway, Track and Appurtenances:
Ballast
$342,201 74
Bridges, trestles, culverts and grade crossings.
Changes in line, revision of grades, widening embankments and tunnel improvements
Increased weight ol rail. Improved frogs and switches, track fastenings and appurtenances
Electric power transmission
Interlocking, block and highway crossing signals
976,755 42
995,060 16
975,632 04
9,533 27
415,07876
3,928,155 62
452,640 97
1,122,217 53
69,554 09
Additional main tracks
Real estate, right of way
and station grounds and fencing right of way
Sidings and passing tracks
Telegraph and telephone lines
•
.
•
.
•
•
•
•
$9,286,829 60
Buildings, Structures and Appurtenances:
Englnehouses, shops, machinery, tools, &c
Roadway buildings, machinery, tools, &c
Station buildings, terminal yards and appurtenances
$351,462 46
54,159 13
...
445.136 10
Water and fuel stations
Other buildings—general service
335,796 16
82,290 85
1,268,844 70
Equipment:
37 locomotives
60 passenger train cars_
638 freight train cars
790 roadway service cars
•
$545,823 08
-
_
481,766
664,108
236.708
128.888
_
Floating equipment
69
78
78
01
$2,057,296 35
Additional cost of equipment purchased last year
Additions and betterments to existing equipment
15,279 44
86,027 77
....
2,158,603 56
$12,714,277 86
'
j
Cost of 49 locomotives, 76 passenger train cars, 2,091 freight train cars, 176 work equipment cars and 1 launch
vacated during the year
$2,231,219 75
Cost of property originally charged to “Additions and Betterments, ’ abandoned during the year, not to be replaced
100,748 18
•
•
•
2,331,967 93
Deduct: For additions and betterments on
South Pacific Coast Railway
New Mexico & Arizona Railroad
Sonora Railway
$10,382,309 93
following properties paid for from income of Southern Pacific Co., viz.:
$275,801 03
8,445 44
—
227,573 42
511,819 89
For the construction and the acquisition of new lines by the Proprietary Companies or
In their Interest, viz.:
Morgan's Louisiana & Texas RR. & S. S. Co
Louisiana Western Railroad
Texas & New Orleans Railroad
Galveston Harrisburg & San Antonio Railway
—
—
Houston & Texas Central Railroad
Arizona Eastern Railroad
Southern Pacific Railroad and railways building connecting therewith
Central Pacific Railway and railways building connecting therewith
Oakland-Berkeley electric lines
Nevada & California Railway...
Oregon & California Railroad and railways building connecting therewith
by Companies Incorporated
.
-
Oregon Eastern Railway...______
Pacific Railway & Navigation Company
Deduct: Transfers and adjustments.
.
.
.
—
-
.
_____
-
.
.
$9,870,490 04
$682,186 44
85,500
11,550
45,660
25,586
1,362,382
3,143.163
1,790,372
773.008
1,756,319
590,156
91
37
95
93
79
37
02
80
25
71
1,919,232 36
1.293,000 00
$13,478,120 90
631.211 46
$12,846,909 44
!
v-' *
* ‘
r;.
■
■
»■>*,
.j
1643
THE CHRONICLE
[VOL.
Brought Forward
Advances to Southern Pacific Railroad Company ol Mexico
Terminal and other real estate
Rolling stock
Steamships and other floating equipment
$12,846,909 44
$6,080,499
6,404,882
5,965,097
1,052,183
over
62
01
52
73
$32,349,572 32
Deduct: Proceeds from sale of property
$23,122
37,258
48,543
511,441
9,315,097
-
Adjustments in accounts
Cost of property and surveys written off—
Balance to credit of rolling stock replacement funds June 30 1909, credited
Stocks and bonds taken
LiXXXI
to
in settlement of construction advances
Equipment account.
_
49
36
53
98
07
9,935,468 43
Advances to electric lines in California
Advances to Paciflo Fruit Express Company and for the acquisition of other properties Important In the
development of business of
the Proprietary Companies or In the economical operation of their properties
Miscellaneous investments
Stocks and bonds purchased for cash or acquired in settlement of construction and other advances, as shown in detail In Tables Nos.
12, 13 and 14, viz.:
Cost of stocks and bonds acquired
$30,142,608 85
Deduct: Stocks and bonds sold, redeemed, exchanged or canceled..
3,416,888 97
$22,414,108 89
3,021,090 83
2,821,650 10
30,236 05
26,725,719 88
Total
$64,883,295 79
The details of the
expenditures for capital account of the Proprietary Companies
shown in Table No. 20.
are
ADDITIONS AND BETTERMENTS.
The
expenditures for additions and betterments amounted to $10,382,309 93. Of this sum, $9,870,490 04 was charged
capital account of the respective Companies and $511,819 89 to the Income account of the Southern Pacific Company.
The details of these expenditures, shown in Table No. 26, include improvements
completed during the year and others in
to the
of construction.
The changes in line,
course
completed
or
in
course
of construction,
were as
follows:
New Lines.
LOCATION.
Total
West
Curvature
(Miles).
(Degrees).
West or South
Bound.
Date Opened
to the Public,
Saving in
for Traffic.
Old
Line. '
New
Line.
Old
Line.
16.38
.70
7.86
5.28
2.27
....
1.86
*.02
157.77
•36.72
65.50
269.00
55.70
15.00
83.40
58.10
21.12
15.80
26.40
New
Line.
19.80
15.00
80.30
79.20
10.60
Increase.
The
as
Second
Main
Track.
Distance
Saved
of El Paso.
Oswego to Cooks
*
East or North
Bound.
Length.
First
Main
Track.
Lines
Deeth to Well*
Hermosillo
Lebanon to Crabtree
Maximum Grade—Feet per Mile.
■
Dec. 14 1909
Feb. 28 1910
In progress
15.80
26.40
52.80
Sept. 26 1909
„
principal additions and betterments to the roadway, track and appurtenances completed during the
follows:
Roadway, Track and Appurtenances.
Total.
Track ballasted with stone (track miles).
Track ballasted with gravel (track miles)
Track ballasted with shell (track miles)
Total track ballasted
Wooden
Wooden
Wooden
Wooden
structures
structures
structures
structures
_
_
73.17
101.59
3.00
_
:
(track miles)
replaced
replaced
replaced
replaced
with
with
with
with
Total wooden structures replaced (lineal feet)
Lines West
of El Paso.
73.17
81.42
23.17
1,482
154,59
375
1,107
893
6
...
_
I beam concrete structures replacing wooden structures (lineal feet)
I beam concrete structures replacing embankment (lineal leet
Steel structures built replacing wooden structures (lineal feet)
Steel structures replaced with heavier structures (lineal feet)
Total steel and concrete structures put
Lines East
of El Paso.
20.17
3.00
177.76
steel structures (lineal feet)
I beam concrete structures (lineal feet)
culverts (lineal feet)
embankment (lineal feet)
year were
6
4,916
3,351
1,575
4,023
1,776
9,755
2,843
6,912
6
8
6
8
1,482
in place (lineal feet)
Stone, concrete or brick arch culverts (lineal feet, transversely to track)
Iron pipe culverts (lineal feet, transversely to track)
Rail top culverts (lineal feet, transversely to track)
Concrete pipe culverts (lineal feet, transversely to track)
Masonry used in bridges, trestles and culverts (cubic yards)
Right of way fenced (track miles)
Automatic electric block signals built (track miles)
Number of Interlocking signal towers built._
Number of levers in interlocking signal towers built
165
375
165
1,661
540
1,121
2,773
1,541
1,837
76
594
2,697
1,107
947
1,837
419
419
20,121
_
_
_
_
2,009
137.40
299.50
4
66
29.87
..
_
Additional main track built (miles)
Material moved in revision of grades (cubic yards)
Material moved widening cuts and embankments and filling trestles (cubic yards)
Snow sheds built (track miles).
Sidings, passing tracks and yard tracks built (miles)
Sidings, passing tracks and yard tracks taken up (miles)
Additional telegraph and telephone wire strung on existing poles (miles)
Roadbed widened (miles)
Excess weight of new and second-hand rails used in renewals (tons)..
Excess weight of frogs and switches used In renewals (tons)
Excess weight of track fastenings and appurtenances used in renewals (tons)
18,112
3.21
92.70
2
35
258,840
251,704
134.19
206.80
2
31
29.87
258,840
61,822
.15
119.32
24.51
189,882
.15
105.34
13.09
13.98
11.42
1,415.00
1,415.00
34.47'
134.49
18,907.21
100.02
2,277.91
16,629.30
743.65
743.65
6,198.28
6,198.28
EQUIPMENT.
The accounting regulations of the Inter-State Commerce Commission in
respect to charges for “Additions and Better¬
ments/' effective July 1 1909, require that the original cost (estimated if not known) of equipment retired be credited
and the cost of equipment acquired be charged directly to the equipment accounts.
The changes during the year in the
equipment dealt with in accordance with these regulations were as follows:
Condemned, Destroyed,
Sold or Transferred to
Another Class,
and
Credited to Equipment.
No.
Locomotives
49
Baggage cars
Baggage and mail cars
Baggage and passenger-cars
18
1
3
2
1
Business oars
Chair cars
Dining
1
-Ts._:
■
cars 1
No.
$535,045 81
Cost.
37
.
4
64
8
•8
cars
-
3
—
■
-
—i_'_
J
Narrow-gauge cars--._
:
TiT’.JV?
:
■
8
8
4
105
'
:
v^ewmn. WmrarrrT--------
V*—rr*-.1
-n—- T
"“'3
49~
...
92
68
'"12
.-TV ----------
56
1
3
---------— -.
$801,865 92
"""I
-
—!
i
Cost.
33
£$256,042 84
•4
$545,823 08
Total.
No.
Cost.
No.
__
Passenger oars_
»V1 ■.
Original Cost.
gasoline)—1_.
car. trailers
J
Observation! cars.
Postal
Free Asset,
S. P. Co.
Equipment.
i
Motor" cars
Motor
..... .......
j.......
Added and Charged to
$454,325 If
na
,.ij
16
bn;
$503,461 83*
203
j r \
8
8
7
**>
.
-r.-r4rrr.?r,»nrcr£
~
/
— -
"‘15
,T
-
t
161
r.f.-r
11
v-Kt-H tsrr-
------—-
f$2,001,49214
Bit* '.HU
.(£1
r ■1279
'IOJ
bv.
'
$2,596,953 97
v
i,
Yu
■
Deo. 17
THE CHRONICLE
1910.]
1
Condemned, Destroyed,
Sold or Transferred to
Another Class; and
Credited Equipment.
1643
Added and
Charged to
Free Asset,
S. P. Co.
Equipment.
Total.
.
No.
19
594
17
7
84
5
No.
Cost.
No.
252
1,851
2,103
128
500
628
202
50
252
75
4
36
4
187
2,457
Total freight train cars
Work
Original Cost.
1,500
Box cars
Caboose cars
Flat oars
Fruit cars
Furniture cars
Gondola oars
Gondola (H. B.) cars
Logging cars
Refrigerator cars
Stock cars
Tank (Oil) cars
Narrow-gauge cars
Cost.
No.
210
equipment
Total
—
Cost.
75
53
3
*50
3
3
$1,301,014 69
713
$703,217 38
2,351
$2,667,656 75
3^064
$3,370,874 13
$81,714 14
925
$282,939 43
218
$144,118 12
1,143
$427,057 55
----
$7,196,751 57
•
$2,372,100 06
$2,127,441 72
—
—
$5,069,309 85
Credit.
The
original cost, salvage value and amount charged to the operating
follows:
expenses
of the equipment retired during the
year were as
Locomotives.
Passenger-Train
Freight-Train
Work
Cars.
Cars.
Equipment.
Total.
Original cost (estimated if not known)
Proceeds from sale or salvage value
$535,045 81
$454,325 42
$2,372,100 06
293,040 13
$1,301,014 69
506,624 35
$81,714 14
156,113 21
39,645 00
995,422 69
Charged to Operating Expenses
$378,932 60
$161,285 29
$794,390 34
$42,069 14
$1,376,677 37
The locomotives added during the year averaged 102.21 tons
upon drivers, and freight-train cars 50 tons capacity.
The number of locomotives and cars of standard gauge owned
at the close of the year were as follows:
This
total weight of engine, without tender, and 92.70 tons
and the total and
Year.
Last Year.
capacity of freight-train
average
Decrease.
Increase.
cars
Per Cent.
Locomotives
Total weight, excluding tender (tons)__
1,808
134,790
1,822
131,565
3,225
Average weight, excluding tender (tons'
Total weight on drivers (tons)
Average weight on drivers (tons)
74.02
71.62
2.40
111,097
108,013
3,084
61.01
58.80
2.21
.77
2.45
3.35
2.86
3.76
1,942
1,736
206
11.87
44,979
1,728,039
44,188
1,632,708
791
95,331
1.79
5.84
39.05
37.58
1.47
3.91
6,318
5,375
943
17.54
Passenger-train
cars.
Freight-train cars
Total capacity (tons),.
Average capacity (tons).
Work equipment.
14
The
the
The
equipment owned by the respective companies is shown in Tables Nos. 24 and 25.
capacity and the service of all equipment, are shown in Tables Nos. 33, 34 and 35.
changes during the
year,
TRANSPORTATION OPERATIONS.
The results of the year’s
transportation operations compared with those of the preceding
This Year.
Average miles of railway operated.
Last
year are as
Increase.
Year.
follows:
Ct.
Per
Decrease.
9,626.43
125.83
1.31
79
55
26
48
$34,345,339 36
$5,899,516 43
4,628,261 29
69,878,880 14
1,993,923 67
348,011 26
7,139.674 12
290,298 81
17.18
7.52
10.22
14.56
$124,523,905 08
10,498,701 79
$110,846,404 46
$13,677,500 62
12.34
9,675,504 28
823,197 51
8.51
$135,022,606 87
$120,521,908 74
$14,500,698 13
12.03
$16,098,705 22
$14,533,135 25
$1,565,569 97
1,428,628 19
2,811,852 72
104,862 09
10.77
9.93
19.87
8.56
3.12
9,752.26
RdfCTlTtCS
Passenger, Including extra
Mall and express,
baggage,,,’,,.
Freight
Switching, rentals and all other
$40,244,855
4,976,272
77,018,554
2,284,222
sources.
Total rail lines
Outside operations—revenue.
Total revenues.
Operating Expenses.
Maintenance of way and structures
Maintenance of equipment
15,808,390
2,481,186
35,658,045
3,467,706
Traffic expenses,
Transportation expenses
General expenses
Total rail lines
Outside operations—expenses
revenues over
total expenses.
Passenger Traffic.
_
Revenue
Revenue
Revenue
Revenue
Average
Average
passengers carried,
passengers carried one mile
from passenger trains per mile of road
from passenger trains per revenue train
revenue per passenger per mile
distance carried
mile
(a)
(a) (6)
14,379,762
2,069,939
32,846,193
3,362,844
48
51
00
42
411,246 79
9,750,813 57
$67,191,874 66
8,604,258 34
$6,322,159 76
1,146,555 23
9.41
13.33
$83,264,847 99
$75,796,133 00
$7,468,714 99
9.85
$51,757,758 88
$44,725,775 74
$7,031,983 14
15.72
39,337,735
$3,961 01
$1 84
852,465
264,622,475
$592 97
$0 05
2.188 cents
44.93 miles
2.185 cents
39.18 miles
.003 cents
5.75 miles
2.17
17.17
14.97
2.72
.14
14.68
25,962,704
6,628,685,724
$7,772 58
$4 53
22,713,143
6,055,858,314
629,087
$7,121 07
$4 38
3,249,561
572,827,410
49,710
$651 51
$0 15
1.162 cents
243.42 miles
1.154 cents
256.52 miles
.008 cents
$73,514,034 42
Total expenses
Gross
67
30
72
51
40,190,200
1,805,834,993
$4,553 98
$1 89
1,541,‘212,518
Freight Traffic.
(Way-Bill Tonnage.)
_
.
Tons of revenue freight carried
Tons of revenue freight carried one mile
Ton miles per mile of road—revenue freight
Revenue from freight per mile of road
Revenue from freight per revenue train mile
Average receipts per topper mile—revenue freight
Average distance carried—all freight
nue
,,(a)
(a)
(a) (c)
678,797
14.31
9.46
7.90
9.15
3.43
.69
5.11
13.10 miles
(o) Based on traffic over rail lines only, length of ferries used between rail stations excluded in distance over which traffic was moved.
(6)
passenger train and all mixed train miles, including 553,003 miles run by motor cars,
(c) Revenue freight train and all mixed train miles.
Reve¬
Compared with the preceding year, the per cent of operating expenses (including expenses of outside operations) to
(including those from outside operations) was as follows:
the gross revenues
This Year.
Last Year.
Sor
‘‘Maintenance”
(Maintenance
ror
Operation”
25.63
33.41
26.08
34.53
Total rail lllnes
Total rail lines aid outside
59.03
41.67
60.6*
62.89
Bail Lines.
of Way and Structures, and Maintenance of Equipment).
(Traffic Expenses, Transportation Expenses, and General Expenses)_.
operations'
■
iO-ec,
TTF
J(The operating revenues and operating
accounts
No.
and
expenses
for the year for all lines, distributed among the respective primary
provided for in the classification promulgated by the Inter-State Commerce Commission, afe shown in Table
28 and for eaoh Company in Table No, 29.
The details of passenger and freight traffic afe shown in TablestNoa;;81
32.1f|-a 4
'““V
1644
THE CHRONICLE
[VOL.
LXXXXI
The expenses for “Maintenance” increased $2,994,198 16, or 10.36 per cent, and for
Operation $3,327,961 60, or 8.70
per cent, a total increase of $6,322,159 76, or 9.41 per cent.
These increases resulted principally from the greater amount
of repairs and renewals made during the year, the greater mileage of locomotives and of cars and the
higher wage schedules.
The increase in expenses for Outside operations occurred in the operation of the
car, restaurant and hotel
steamship lines and in the dining
service, resulting principally from the increase in service to the public and from the higher cost
of operation.
There are in service twenty-three gasoline motor cars.
in the mileage statistics.
In the
The mileage of these
cars,
aggregating 553,003 miles, is included
following statements the operating expenses, charged as provided for in the classification of the Inter-State
been combined under comprehensive titles of accounts so as to present the year’s expenses
Commerce Commission, have
in
concise form.
a
MAINTENANCE OF WAY AND STRUCTURES.
This Year.
Average miles operated—first and additional main tracks
Ballast
Ties
Rails
__
Last Year.
Repairs of roadway and track
Bridges, trestles and culverts
Buildings, grounds and appurtenances
Snow and sand fences and snow sheds
Electric power, telegraph and telephone
131.18
1.33
$266,953 38
155.36
7.99
37.27
21.79
Superintendence
Stationery and printing.
$4,873,551
6.357,014
1,203,268
2,178,647
181,324
—
..
lines
..
138,810
832,846
40,138
92,817
200,284
—
Other expenses
Property* abandoned
Total
..
Cost per mile—all main tracks
Ct.
9,858.22
2,065,206 05
1,294,691 11
1,414,415 24
1,722,552 05
-
Per
$171,831 84
812,116 76
Total material roadway and track
Decrease.
$438,785 22
1,900,097 81
...
Frogs, switches, and other track material
Increase.
9,989.40
84
43
68
77
31
69
56
91
18
85
$4,946,144
5,419,665
1,177,362
1,876,373
130,954
165,997
726,198
29,200
61,238
24
25
39
58
91
75
93
02
18
$165,108 24
482,574 35
308,136 81
$72,592 40
$937,349
25,906
302,274
50,369
18
29
19
106,647
10,938
31,579
200,284
63
40
27,187 06
89
00
85
$16,098,705 22
$14,533,135 25
$1,565,569 97
$1,611 58
$1,474 21
$137 37
_
1.47
17.30
2.20
16.11
38.46
16.38
14.69
37.46
51.57
10.
9.3
The increase resulted principally from the maintenance of 131 miles of additional main tracks and 142 miles of
sidings
the cost of labor of replacing 216 miles more of rails this year than were replaced last
year, from the higher wage schedules
and from charges under the rules of the Inter-State Commerce Commission for
property abandoned formerly charged to
“Profit and Loss.”
The following rails, ties, tie plates and continuous rail joints were used in
making renewals, and the entire cost thereof
charged to operating expenses, with the exception of $975,356 61 for increased weight of rail and improved
switches.
In accordance with the Classification of Expenditures for Additions and Betterments
promulgated by
State Commerce Commission, this sum was charged to capital expenditures.
frogs and
the Inter-
+ Increase.
This Year:
Miles of new steel rails
Per cent of renewal of all rail In track, Including sidings
Number of burnettized ties
Number of other ties
Total number of ties
Equal to miles of continuous track
Per cent of renewal of all ties in track, Including sidings.
Number of tie plates
Equal to miles of continuous track .1
Number of continuous rail joints
Equal to miles of continuous track
Miles
weight of rails
yard in main line and branches at the close of the
per
of first and additional main tracks
excluding mileage operated
under trackage rights.
operated,
Main line.
Brandies
1
Total
Per cent of total miles of track
Per cent last year
—
Decrease.
757:74
5.69
541.07
4.14
2,231,076
1,383,337
3,614,413
1,277.18
+ 216.67
+ 1.55
1,551,217
1,726,175
3,277,392
1,162.31
+ 679,859
—342,838
+ 337,021
+ 114.87
+ .70
+ 2,575,635
9.59
8.89
6,647,605
1,174.49
566,798
4,071,970
722.05
+ 452.44
349,306
+ 217,492
805.11
496.17
+ 308.94
_
The
Last Year.
follows:
year was as
50-16.
and less
52-lb.
than
•
Total.
141-16. 116-16. 96-16.
90-16.
76
and
75-lb.
80-16.
70-16.
61.5
and
60-lb.
65-16.
56-lb.
54.6
and
54-16.
50-16.
5,603.47
4,382.57
1.11
.65
.24
20.37 696.55 2,666.34
.38
71.82
125.20
9,986.04
1.76
.24
20.75 768.37 2,791.54 2,710.31 10.72 244.15 1,732.17 130.60 297.02 88.48 1,189.93
100.00
100.00
.02
.02
.21
.21
7.69
2.55
2,069.14
641.17
27.96
29.48
113.07
10,72
27.14
29.04
.11
.11
12.14
24.75
244.15 1,619.10 118.46 297.02 88.48 1,165.18
2.44
.68
17.34
18.01
1.31
2.42
2.97
2.34
.89
.90
11.92
14.24
At the timber treating plants of the
companies 2,340,676 cross-ties and 29,899 switch-ties were burnettized and 4,868
cross-ties and 970,331 cubic feet of piling and other timber were creosoted.
MAINTENANCE OF EQUIPMENT.
This Year.
Locomotives
Last Year.
$6,452,213 63
1,913,598 23
Passenger train cars
Freight train cars
Work equipment.
Floating equipment
Shop machinery and tools
5,665,182
338.764
331,417
372,183
631,900
103,129
Superintendence
Other expenses
Total
95
54
59
43
65
65
$15,808,390 67
Although
$5,848,394
1,527,519
5,399,991
323,629
341,903
298,856
540,515
98,952
Increase.
35
39
54
58
62
08
72
Decrease.
Per Cent.
$603,819 28
386,078 84
10.32
25.28
4.91
4.68
3.07
24.54
16.91
265,191 41
15,134 96
$10,486 03
20
73,327 35
91,384 93
4,177 45
$14,379,762 48
$1,428,628 19
4.22
9.93
part of the increase resulted from higher wage schedules and increased price of material, the greater part
In mileage of locomotives there was an increase of 11.49 per cent,
of passenger-train cars of 12.32 per cent and of
freight-train cars of 10.00 per cent.
As in the past, the
companies have charged to operating expenses the original cost (estimated if not known), less salvage,
or purchase
price of all equipment condemned, destroyed, sold or vacated from any cause during the year. The amount
thus charged is reported under the item of “Renewals” in Table No. 28 and amounted to
$1,376,677 37, against $1,365,a
thereof resulted from the greater service of the equipment.
771 92 last year.
The average cost of repairs and renewals per locomotive and
per car per annum
locomotives and cars owned during the year were:
and the
average
Average Serviceable Number.
Average Cost per Annum.
Locomotives, for repairs
for renewals
Total
l—
Passenger train cars, for repairs
for renewals.
.
Total
Freight train cars, for repairs
for renewals
7*
Total
.v---------.
i:
_
i-7
j—.*.1
.
This Year.
Last Year.
$3,342 82
$2,973 37
208 09
208 74
$3,550 91
$3,182 11
$1,032 14
$910 33
86 25
51 90
$1,118 39
$962 23
$108 55
$103 65
17 70
19 05
$126 25
$122 70
number of serviceable
This Year.
Last Year.
1,821
1,846
1,883
1,759
•;
,
44,873
7,
,
44,011
'
Deo. 17 1910.]
THE CHRONICLE
1645
The equipment owned by^the respective Companies is shown in Table No. 25, and the
capacity, the service and the
cost of maintenance are shown in Tables Nos. 33, 34 and 35.
age
aver¬
TRAFFIC EXPENSES.
Outside agencies
Advertising
Superintendence
Stationery and printing
This Year.
Last Year.
$964,728 18
680,402 51
$857,529 16
414,008
571,942
210,630
15,828
582,875 60
210,652 50
42,527 51
Other expenses
$2,481,186 30
The Inter-State
Increase.
Decrease.
Per Cent.
$107,199 02
266,393 82
10,932 73
69
87
56
23
12.50
64.34
,1.91
21 94
$2,069,939 51
26,699 28
.01
168.68
$411,246 79
19.87
Commerce Commission
accounting regulations require that transportation issued in payment for
advertising should be credited to Passenger Revenue and the equivalent charged to Operating Expenses. This accounting
regulation has caused the greater part of the increase in advertising.
TRANSPORTATION
EXPENSES.
This Year.
Locomotives, fuel for
Locomotive service, other than fuel
Train service
Station and terminal service
Ferry and river service
Injuries, loss, damage and other casualties
Last Year.
$9,061,522 80
_
Superintendence
Stationery and printing
-
Other expenses
7,306,933
5,865,668
8,627,740
675,816
2,256,754
1,459,396
331,100
73,111
Increase.
$7,988,454
6,453,241
5,136,827
8,222,464
647,573
2,709,161
1,345,488
287,355
54
74
76
62
69
05
49
07
55,626 04
04
33
71
87
68
31
99
99
$1,073,068
853,691
728,840
405,276
28,243
Decrease.
Per Cent.
26
30
57
09
18
13.43
13.23
14.19
4.93
4.36
16.70
8.47
15.22
$452,406 37
113,907 82
43,745 92
17,485 95
31.43
*
$35,658,045 72
The work done
$32,846,193 00
by the transportation department of the rail lines
'
$2,811,852 72
8.56
that of last year is shown in the following table:
over
Increase.
Gross
operating revenues
Transportation expenses
Revenue passengers carried one mile
Mileage of cars in passenger service
Locomotive mileage with passenger trains, including helping
Tons of revenue freight carried one mile
Tons of revenue and company freight carried one mile..
Mileage of cars In freight service
Locomotive mileage with freight and mixed trains, Including helping
Total locomotive mileage In service for which the attendant
expenses are charged to “Transportation Expenses”
_
$13,677,500 62
2,811,852 72
_
The average number of
for the year were:
car
tons of
freight
per
*
_
train of loaded
Loaded Cars per Train.
+ Increase.
Decrease.
+ Increase.
Decrease.
—
—
Tons.
Cars.
Tons.
Lines east of El Paso
Lines west of El Paso
Average all lines
train (excluding caboose) and of tons
per
loaded
Tons per Loaded Car
Per Cent
(Way Bill Tonnage.)
2
Ton miles per revenue
___
cars per
Tons per Train.
Revenue and Company Freight.
•
_
12.34
8.56
17.17
12.32
14.71
9.46
10.51
10.00
7.16
11.49
264,622,475
16,431,224
3,281,696
572,827,410
758,049,388
50,199,961
1,373,678
5,434,376
„
__
Per Cent.
382.79
528.15
476.03
To Total Car
Per Ct.
—3.28
of Loaded Car
Mileage
Per Ct.
Cars.
18.89
25.02
—.16
+ 24.69
.85
4.90
+ 15.53
3.37
22.82
+ Increase.
—
Mileage.
+ .60
.84
2.46
71.46—
+ .39
1.74
Decrease.
Tons.
Tons.
70.29—1.10
Per Ct.
—.48
.91
20.26
21.11
+ .50
2.31
2.43
71.11— .93
20.86
+ .33
1.61
freight train and all mixed train miles.
The cost per locomotive mile run in revenue service and in
“Transportation Expenses”
non-revenue
service for which the expenses are
charged to
was:
+Increase. '
This Year.
17.189 cents.
67.641 cents.
For fuel for locomotives
For all transportation expenses.
Last Year.
16.895 cents.
69.489 cents.
— Decrease.
+.294 cents.
—1.848 cents.
GENERAL EXPENSES.
Salaries and expenses of general officers
Salaries and expenses of clerks and attendants
__
“
Insurance
Pensions
Other expenses
Last Year.
$300,944 92
$338,549
1,643,814
496,707
219,599
125,048
305,079
143,666
80,378
1,649,445
491,720
203.845
157.685
310,574
175,090
178,399
Law expenses
General office expenses
Stationery and printing
This Year.
_
.
Total
36
43
70
82
31
77
20
$3,467,706 51
-
Increase.
Decrease.
Per Cent.
88
51
99
13
45
71
28
47
32,637 37
5,494 60
31,424 49
13.66
.34
1.00
7.17
26.10
1.80
21.87
98,0^0 73
121.95
$3,362,844 42
$104,862 09
3.12
$47,604 96
$5,630 85
4,987 56
15,753 43
GENERAL.
Under the concessions granted for the construction of
to in the last annual
report, there were completed during
completed to June 30 1910.
The miles of
constructed,
the railway of the Southern Pacific Railroad of Mexico, referred
the year 115.84 miles, making a total of 899.69 miles of railway
railway projected under the concessions, the miles completed, under construction,and remaining to be
are as
follows:
Constructed
.
Projected.
to
Miles.
June 30 1910.
Miles.
Main
Line—Bmpalme
Branch Lines.
to
Guadalalara
_
_
__
_
Total
Remaining to 5s BuiU.
Under
Construction.
Miles.
To be
BuiU.
Miles.
840.64
652.51
669.87
229.82
11.78
158.99
422.69
1,493.15
899.69
11.78
581.68
V
' ’*
•
,
Under the concessions to the Southern Pacific
Company, 170.77 miles remain to be completed by November 1912,
and under t^e concession to the Cananea
Yaqui River & Pacific Railroad Company 422.69 miles by May 1914.
The advances by the Southern Pacific
Company for account of the construction of these lines amounted on June 30 1910*
to $35,965,601 75.
Interest accruing during the year on these advances has not been taken into the “Income for the year”
or the assets of the
Company.
In addition to the completed lines of railway
Pacific Railroad of Mexico, hereinbefore referred
.
reported under “Properties and Mileage” and the railway of the,Soilthern
on the following lines:
to, construction is progressing
1646
THE CHRONICLE
[Vol.
Length of
Projected Line.
Arizona Eastern Railroad—
Phoenix to Haasayampa, Arizona
Winlrelman to San
Northeast.efn Railway—Weed, California, to Klamath Falls. Oregon
California
Ni!es
Central California. Rnil.tnny
to Redwood City, California
T^ouisiana Western Rni.l.rnnd—Puniee to Mamou, Louisiana
_
Morgan's T.onisia.na A Te.r.as PR,. A AS. Cn.—Lafayette to Port Allen. Louisiana
Nevada. A California
Rn.ilwa.y~Ct\t\.nchn. to Owenyo, California
Oregon Postern “Rnihpn.y—Matron to Klamath Palls, Oregon
Oregon Western Railway—Drain to Marshfield, Oregon
Pacific Railway A, Navigation Company Hi llshoro to Tillamook. Oregon!
Sacramento Soidperp Railroad—Sanramento to Walnut Grove. California
Miles.
19.91
.94
10.50
88.72
15.52
9.50
49.12
Miles.
39.22
32\79
10.55
88.72
16.24
10.76
52.57
29.50
193.80
73.12
91.00
23.90
Carlos, Arizona
_
Track
Completed.
•
lxxxxi.
Grading
Completed.
Grading
Progressing.
Miles.
1.59
6.23
.05
Miles.
12.86
.72
2.50
29.50
17.13
59.00
10.12
15.85
3.24
.780
2.65
On
January 31 1910 the railways and property of the Arizona Eastern Railroad Company (of Arizona), the Gila Valley
Railway Company, The Maricopa & Phoenix Railroad Company, the Arizona & Colorado Railroad
Company (of Arizona), The Arizona & Colorado Railroad Company of New Mexico and The Arizona Eastern Railroad Com¬
pany of New Mexico were consolidated under the name of ‘‘Arizona Eastern Railroad Company.”
The capital stocks of
these companies were entirely owned by the Southern Pacific Company, which had also made the advances for the con¬
struction and the reconstruction of said railways.
The consolidated company’s lines are situated in the Territories of Arizona and New
Mexico; about 266.75 miles of
railway are completed and in operation. At Phoenix, Arizona, they connect with the railway of the Phoenix & Eastern
Railroad Company, which owns a railway about 95 miles in length, and whose entire capital stock is owned
by the Southern
Pacific Company.
The Southern Pacific Company has owned for a number of years 15,300 shares of the
capital stock of Wells, Fargo & Co;
This holding was not sufficient to carry control of the Express Company, and, moreover,
it was not apparent that such
control would be of any value to the Southern Pacific Company: and therefore
advantage was taken of an opportunity to
sell the entire amount owned.
An extra dividend that was paid by Wells, Fargo & Co. in
February 1910 was credited to
the year’s income, and the profit realized from the sale of the stock was credited to
profit and loss.
The Southern Pacific Company also owned 41,721 shares of the capital stock of the Mexican International RR.
Co.,
a large majority of the shares
outstanding being owned by the National Railways of Mexico. The Southern Pacific Com¬
pany was able during the year to sell its holdings to the National Railways of Mexico at a satisfactory price, and the profit
realized was also credited to profit and loss.
Under the pension system put into effect on January 1 1903 there are carried on the pension rolls of the'rail and water
lines 454 employees.
The payments to them for the year amounted to $181,370 31.
The accompanying report of the Vice-President and Comptroller shows fully and in detail the financial and other
transactions of the Southern Pacific Company and of the Proprietary Companies.
By order of the Board of Directors.
ROBERT S. LOVETT, President.
Globe & Northern
NO. 2—COMBINED INCOME ACCOUNT YEAR ENDED JUNE 30 1909—SOUTHERN
PACIFIC COMPANY AND PROPRIETARY COMPANIES
Revenues and Expenses of “Proprietary” and “Non-Proprietary” Lines and Miscellaneous Income of the Southern Pacific
Company and Proprietary
Companies, combining details shown in Tables Nos. 9 and 15.)
Operating
expenses (and taxes) of proprietary lines. Inter¬
on funded debt and all other expenses of
proprietary
companies as shown in detail in Table No. 15
$101,291,989 05
Operating expenses, taxes, and all other expenses Incurred
in connection with the operation of the following non¬
proprietary lines:
New Mexico & Arizona RR
$314,605 20
Sonora Railway
1,301,337 97
est
1,615,943 17
Expenses of Southern Pacific Company (.Table No. 9):
Expenses of operating steamship lines
6,209,731 72
4,806,722 89
Interest on funded debt as shown in detail in Table No. 6__
Interest due to Proprietary Companies on
advances and open accounts
$1,705,467 95
Less Interest due from Proprietary Compan¬
ies, Including interest charged to Oregon &
California RR. Co
i_ 1,123,039 87
582,428
10,000
5,000
5,000
Rental to Central Pacific Ry. Co
Rental to Nevada & California Ry. Co
Rental to Oregon & California RR. Co
Rental to Southern Pacific RR. Co
Taxes
General and miscellaneous expenses
Annual payment for redemption of 6% steamship bonds.
Premium on $71,000 face value 6% steamship bonds re¬
deemed
Reserve for depreciation of rolling stock owned and leased
10,000
120,370
193,161
75,000
_
08
00
00
00
00
73
79
00
Revenues of proprietary lines and miscellaneous income
Proprietary Companies as shown in detail in Table No.
Revenues of the following non-proprietary lines:
New Mexico & Arizona RR
..$383,487
Sonora Railway
875,446
of
15
$130,387,815 34
87
97
1,258,934 84
Revenues of Southern Pacific Company (Table No. 9):
Gross revenue from operation of steamship lines
Interest on bonds owned of Proprietary Companies
Interest on bonds owned of companies other than Proprie¬
6,834,809 31
617,755 51
tary Companies
Dividends on stocks owned
1,284,763 65
as shown in detail in Table
No. 5___
Rentals from lease of road
Hire of equipment
Rentals from lease of joint tracks, yards and terminal
5.936,113 28
1,066,906 82
1,626,155 45
facilities
Miscellaneous rentals
Net proceeds from sale and lease of lands
Balance of Interest on loans and on open accounts other
than with
193,436 64
178,842 16
11,975 16
proprietary companies
1,521,210 44
Miscellaneous Income
992 00
3,550 00
to other
companies
Cost of surveys written off
527,594 94
Cost of examinations for water power written
Balance to Profit and Loss (Table No. 3)___
45.041 92
1,280 77
35,416,895 54
off_r
Total
$150,919,710 60
Total
$150,919,710 60
NO. 3—COMBINED PROFIT AND LOSS JUNE 30 1910—SOUTHERN PACIFIC COMPANY AND PROPRIETARY COMPANIES.
(Combining details
Dividends on stocks of Proprietary Companies, viz.:
Central Pacific Ry. Co., Preferred
$556,000
Central Pacific Ry. Co., Common
4,036,530
Houston East & West Texas Ry. Co
192,000
Houston & Shreveport RR. Co
40,000
Louisiana Western RR. Co
504,000
Morgan’s Louisiana & Tex. RR. & SS.Co.
750,000
Nevada & California Ry. Co
241,850
Southern Pacific RR. Co
0,600,000
Southern Pacific Terminal Co
120,000
Texas & New Orleans RR. Co
1,000,000
Balance June 30 1909, viz.:
Southern Pacific Company
00
00
00
00
00
00
00
00
00
00
Proprietary
$114,652,595 54
$454 00
stock,
stock and for convertible bonds between
July 1 1909 and October 1 1909
$43,318,164 34
71,334,431 20
Companies
Balance from income account (Table No. 2)
Proceeds from sale of unpledged lands
Proceeds from sale of lands pledged for the redemption of
17,039,926 00
of Southern Pacific Co., viz.:
1H% paid January 1 1910
$4,089,436
1H% paid .April 1 1910
4,090,073
1H% payable July 1 1910
4,090,084
1H% payable October 1 1910
4,090,084
Dividend paid October 1 1909 on com¬
mon
stoek exchanged for preferred
on common
shown in Tables Nos. 10 and 16.)
$17,040,380 00
Less paid to Southern Pacific Co
Dividends
as
’
bonds
Collection of old accounts
Annual payments to sinking funds and income from sink¬
1,125,3?8 06
100,552 72
ing fund investments.
Adjustments in unsettled claims and accounts
Profit on Wells, Fargo & Co.’s Express and on Mexican
International RR. Co. capital stocks sold
378,514 97
146,549 97
Difference between cost
on
Discount
7,148,865 00
books and amount received for
property sold
62
90
15
58
35,416,895 54
265,136 50
bonds purchased and canceled.
Unclaimed accounts written off
on
43,650 03
25,097 73
28,093 04
878,213 68
17,237,892 93
Total
Discount ami commission on capital Issues during the year
Fund for refunding outstanding old bonds of Southern
* Pacific RR.tCo
Dost on books tof San Antonio & Aransas Pass
Ry. Co. 4%
‘;:3 Income bonds written down
Dost on books, less salvage, of property abandoned
Uncollectible accounts written off
Balance June ,80 1910, vta.tl
Southern Pfmlfic Company!
$54,756,476 75
_
-Proprietary Companies.
_
_
_
_
.
$17,238,346 93
1,992,181 75
1,992,000 00
2,589,671 83
.
?
)
105,681 70
>208,084 77
80,448,830 27
1135,205,313
"Total
02
901
mofer
PGrVS*" ar?
5.1STS'
T&smr
: s&ism w 31RS5BSP0 00
THE CHRONICLE
Deo. 17 1910. j
1647
NO. 11—ASSETS AND LIABILITIES—SOUTHERN PACIFIC COMPANY—JUNE 30 1910.
June 30 1910.
ASSETS.
*June 30 1909.
LIABILITIES.
$
Capital Assets—
June 30 1910.
*June 30 1909.
Capital Liabilities—
Proprietary Companies
232,532,667 41 247,287,543 73
pledged—Tables Nos. 12 and 13
Stocks and bonds of other Co’s pledged
5,975,513 18
Common stock
Preferred stock called for
Stocks and bonds of
redemption but
272,672,305 64 213,910,358 64
presented
stock—subscription receipts out¬
standing
not
18,325 00
58,626,400 00
Preferred
232,532,667
Total stocks and bonds pledged
Stocks and bonds of Proprietary Companies
unpledged—Tables Nos. 12 and 13
other Companies un¬
pledged—Table No. 14
Bay Shore Line terminals, and other real est.
Timber-treating plants, saw mills and other
Stocks and bonds of
253,263 ,056 91
45,408,883
11,792 671 50
51,551,638
31,938,448
37,711 742 01
25,298 354 22
Total capital stocks.
365 00
272,690,630 64 272,537,123 64
.
property
--Steamships and other floating equipment—
,
Table No. 24
Rolling stock—Table No. 25
Advances for construction and acquisition
of new lines
Advances to Southern Pacific RR. Co. of
--—
-
Mexico
Advances to electric lines in California
Advances to Kern Trading & Oil Co
Advances to Pacific Fruit Express Co
Lands and other investments
404,698 70
12,625,710
16,222,784
First mortgage 6%
Jan. 1 1911
375,691 80
11,573 526 34
10,257, 687 40
33,545,888 99
35,965,601
12,103,947
4,086,700
1,165,212
1,908,905
1,644,000 00
1,715,000 00
Less in treasury
28,769,500 00
28,769,500 00
81,137,000 00
79,896,545 71
5,049,000 00
4% 20-year convertible bonds, due June L
31,099,774 58
1929
4% convertible bonds subscription receipts
29,885 102 13
9,082 856 92
3,862 737 78
and
scrip
4
20-year gold bonds, due July 1 1929.
2-5-years 4% gold bonds, due June 1 1910..
San Francisco Terminal first mortgage 4%
bonds, due April 1 1950
475,201 04
479,461,089 14 424,678,402 63
1,044 00
594 00
Total
Sinking funds.
steamship bonds, due
4% gold bonds (Central Pacific Stock Col¬
lateral), due Aug. 1 1949:
Authenticated by Trustee_$33,818,500 00
15,040 00
227,000 00
_
Total funded debt.
72,000 00
7,253,000 00
15,000,000 00
126,792,540 00 117,706,045 71
399,483,170 64 390,243,169 35
479,462,133 14 424,678,996 63
Current Liabilities—
Coupons matured—unpaid
Coupons due July 1
Current AssetsCash
Time loans and deposits
Loans and notes receivable
t
Agents and conductors...
Income accr’d to June 30 on securities owned
Individuals and companies
U. S. Government transportation
Material and supplies.
10,718 ,579
17,047 ,375
3,316 ,788
2,006 ,158
1,113 ,904
3,237 ,510
907 ,525
11,241 ,592
79
62
85
68
35
52
38
98
49,589,436 17
31,783,013
11,450,000
1,465,783
2,075,972
687,062
2,689,300
1,240,594
9,561,451
Interest accrued on bonds and loans to June
30, but not due
Dividends due—unpaid
Dividends due, July 1 and Oct. 1
Mortgage bonds satisfied
42
00
94
26
39
27
82
26
Traffic and car service
Due to Union Pacific RR. Co
Vouchers and pay-rolls
60,953,178 36
25
57
73
00
42
97
83
2,435,195 62
36,006,010 77
23,125,004 04
198,220 04
346,042 69
144,000 00:
21,501 80
213,974 67
176,000 00
$688,262 73
$411,476 53
3,379,871
120,242
8,180,168
21,000
322,562
10,901,568
9,762,361
Wells, Fargo & Co.’s Express contract.
182,422 13
Due from other Proprietary Companies..
46,474
10,391,263
42,334
664,768
42,823
4,946,702
21,533
76
47
49
68
93
45
35
36,704 98
10,502,434 45
16,155,901 13
17,079,499 10
1,304,416 41
1,600.694 57
Houston East & West Texas Ry.
Houston & Shreveport RR. Co
Houston & Texas Central RR. Co
Louisiana Western RR. Co
4,364,732
157,742
39,262
732,192
Co__
Southern Pacific RR. Co
Texas & New Orleans RR. Co
6,435 863 90
104,495 77
Due to other
Proprietary Companies
Unadjusted acc’ts—Proprietary Companies
Expended for account of Colorado River
Crevasse
3,980,736 58
178,266 81
228,652 65
4,022,480 29
3,769,866 36
Insurance fund
Unadjusted accounts
Principal of deferred payments
on
land
40,146,628 73
377,216 14
45,817,776 13
41,347,475 73
1,349,172 58
1,003,548 32
3,180,381 32
1,607,697 54
5,447,809 15
3,186,137 15
1,607,697 54
4,694,006 30
1,481,082 40
225,919 00
2,075,991 87
1,160,593 98
131,305 50
2.405,346 33
85
72
87
06
41
37
20
97
41
84
93
54
con
157,760 83
128,927 98
14,176,642 11
13,314,014 84
8,157,522 40
Total liabilities,.
Balance to credit of profit and loss.
497,521,034 96 469,444,688 81
54,756,476 75 43,318,164 34
...
Total assets.
llV 40
4,746,879
227,280
68,799
351,486
76,422
70,964
90,996
34,862,690
851,955
tracts
5,583,202 73
7 “9 50,
Contingent Liabilities—
Steamship insurance fund...
Floating equipment replacement fund
Reserve for replacement and depreciation of
rolling stock
Xl,390,753 59
31,784 07
138,184 78
82
Morgan’s Louisiana & Texas RR. & SS. Co.
Nevada & California Ry. Co
Marine insurance fund
Contingent Assets—
San Antonio & Aransas Pass Ry. Co
Individuals and companies
651,200 62
292,962 09
Proprietary Companies—
Central Pacific Railway Co
Proprietary Companies—
Direct Navigation Co..
Galveston Harrisburg & San Antonio Ry.Co
Louisiana Western RR. Co
Morgan’s Louisiana & Texas RR. & SS. Co.
Nevada & California Ry. Co
Oregon & California RR. Co
Southern Pacific Terminal Co
54,523 20
8,794,585 17
Deferred Liabilities—
Pacific Mall Steamship Co
Taxes assessed but not due
Deferred Assets—
Individuals and companies.
114,897 47
3,124,482 50
118,635 00
3,199,600 00
Total liabilities.
552,277,511 71 512,762,853 15
•
The assets and liabilities for the year 1909 have been re-stated to accord
face value, San Antonio is Aransas Pass Ry. Co. Income 4% Bonds, on which
552,277,511 71 512,762,853 15
with the classification observed in the
Interest Is payable on Jan. 1 of each
earnings and income.
NO. 12 and 13—SOUTHERN PACIFIC COMPANY— BONDS OF PROPRIETARY
COMPANIES
year 1910.
year only if
Includes $3,398,000*
earned, out of the net
x
OWNED—JUNE
(Bonds owned by the Proprietary Companies and bonds held in sinking funds of the Proprietary Companies are reported in Tables
Owned
1910.
Nos. 19 and 21.)
by Southern Pacijic Company.
Pledged.
Total
Outstanding
BONDS.
30
June 30 1910.
Against issue
o
Against issue of
S. P. Co.
S. P. Co.(C. P.
Common Stock. Stock collateral)
Bonds.
Total.
Unpledged.
Proprietary Companies—•
Carson & Colorado Railway first mortgage
4%
Central Pacific Railway Through Short Line first mortgage
4%
Central Pacific Railway three and one-half per cent mortgage
3
Galveston Harrisburg & San Antonio Ry. equipment Series A
6%
Galveston Harrisburg & San Antonio Ry. 2nd mtge., M. & P. extension.6%
Galveston Harrisburg & San Antonio Ry. 1st mtge.. Eastern Division..6%
Galveston Houston & Northern Ry. first mortgage
5%
Gulf Western Texas & Pacific Ry. first mortgage
-5%
Houston & Shreveport RR. first mortgage
6%
Houston & Texas Central RR., Lampasas Extension, first mtge
5%
New York Texas & Mexican Ry., first mtge., Matagorda Division
6%
Oregon & California Railroad first mortgage
5%
Southern Pacific Railroad first consolidated mtge. of 1893
5%
Southern Pacific Railroad of New Mexico first mortgage
6%
Texas & New Orleans Railroad first mortgage. Main Line
6%
Texas & New Orleans Railroad first mortgage, Dallas Division
4%
Texas & New Orleans Railroad, equipment, Series A
6%
Total
2,000,000
9,640,000
16,129,000
1,558,000
6,354,000
4,728,000
800,000
2,224,000
150,000
450,000
842,000
17,745,000
4,127,500
4,180,000
862,000
3,997.000
340,000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
76,126,500 00
2,000,000
1,340,000
108,500
1,558,000
1,110,000
4,728,000
800.000
2,224,000
150,000
425,000
842,000
32,000
243,000
100,000
561,000
1,190,000
340,000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
..
17,751,500 00
$
2,000,000
1,340,000
108,500
1,558,000
1.110,000
4.728,000
800,000
2,224,000
150,000
425.000
842,000
32.000
.243,000
100,000
561,000
1,190.000
340,000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
17,751,500 00
Other
Proprietary Companies—
Arizona Eastern Railroad first refunding mortgage
Beaverton & Wjllsburg Railroad first mortgage
Chico & Northern Railroad first mortgage
Coos Bay
& Eastern RR. & Navigation first mortgage
Corvallis & Eastern Railroad first mortgage
Gila Valley Glotfe & Northern
Ratlrway fist mortgage
Pacific Railway 4 & Navigation first
mortgage
Rosebjirg
5%
6%
4%
6%
4%
5%
5%
■
7,000,000
750,000
1,000,000
625,000
2,115.000
1.499,000
490,000
00
00
00
00
00
00
00
Total
Total
7,000,000
750,000
1,000,000
025,000
2,115,000
5,000
L 490,000
00
00
00
00
00
00
00
11,9*5,000 00
__
11,985,000 00
—-tM-
bondi
i.-.SSAtf.ifS.i. J jCAblR. JtfXUfcU-.
7,000,000 00
750,000 00
1,000,000 00
.025.000,00
2,115,000 00
od 4.000 00
490,000 00
29,730,500 00
the
revenues
'ana transportation
and traffic
Statistics
herein Mfpartod
29.736,500 00
1648
THE CHRONICLE
[Voi..
LXXXXl
SOUTHERN PACIFIC COMPANY—STOCKS OF PROPRIETARY COMPANIES OWNED—JUNE 30 1910.
Owned by Southern
Total
Outstanding
STOCKS.
Pacijie Company.
Pledged.
June 30 1910.
Total.
Against issue oj Against issue of
S. P. Co.
S. P. Co.(C. P.
Common Stock. Stock collateral)
Unpledged.
Bonds.
Proprietary Companies—*
Central Pacific Railway Co.—Common
Central Pacific Railway Co.—Preferred
Direct Navigation Co
Galveston Harrisburg & San Antonio Railway Co
Houston East & West Texas Railway Co
Houston & Shreveport Railroad Co
$
67,275,500 00
17,000,000 00
__
50,700 00
27,084,372 00
1,920,000 00
400,000 00
Houston & Texas Central Railroad Co
Louisiana Western Railroad Co___
Morgan’s Louisiana & Texas Railroad & Steamship Co._
Nevada & California Railway Co
Oregon & California Railroad Co.—Common
Oregon & California Railroad Co.—Preferred
South Pacific Coast Railway Co
Southern Pacific Railroad Co
Southern Pacific Terminal Co
Texas & New Orleans Railroad Co
10,000,000 00
3.360,000 00
15,000,000 00
4,425,700 00
7,000,000 00
12,000,000 00
6,000.000 00
160,000,000 00
2,000,000 00
5,000,000 00
Total
Other
$
67,275,500 00
17,000,000 00
$
67,274,200 00
17,000,000 00
200 00
27,056.100
1,919,100
397,600
9,998,300
3,360,000
15,000,000
4,425,700
6,970,198
11,991,000
6,000,000
160,000,000
1,999.600
4,999,500
$
1,300 00
200 00
50,500 00
00
00
00
00
00
00
6,970,198 50
11,991,000 00
6,000,000 00
35,328,139 00
1,999,600 00
2,000 00
00 27,005,600 00
00
00
00
00
3,310,000 00
00
4,994,000 00
00
50
00
00
00 124,671,861 00
00
00
4,997,500 00
338,516,272 00 338,392,798 50 164,978,961 00
1,919,100
397,600
9,998,300
50,000
10,006,000
4,425,700
84,274,200 00
89,139,637 50
Proprietary Companies—
Arizona Eastern Railroad Co
Beaverton & Willsburg Railroad Co
Central California Railway Co
Chico & Northern Railway Co
Coast Line Railway Co
Coos Bay Roseburg & Eastern Railroad & Navigation Co
Corvallis & Eastern Railroad Co
Inter-California Railway Co
Lincoln & Northern Railroad Co
Oroville & Nelson Raiload Co
Pacific Fruit Express Co
Sacramento Southern Railroad Co
San Bernardino & Redlands Railroad Co
San Francisco & Napa Railway Co
Southern Pacific Railroad Co. of Mexico
Tucson & Nogales Railroad Co
Southern Pacific Building Co
9,000,000
750,000
30,000
1,500,000
100,000
2,000,000
1,410,000
216,000
11,200
13,000
10,800,000
100,000
200,000
55,000
75,000,000
66,000
200,300
00
9,000,000
750,000
30,000
1,500,000
100,000
2,000,000
1,410,000
216,000
11,200
13,000
5,400,000
100,000
200,000
55,000
75,000,000
66,000
199,800
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
Total
00
9,000,000
750,000
30,000
1,500,000
100,000
2,000,000
1,410,000
216,000
11,200
13,000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
5,400,000
100,000
200,000
55,000
75,000,000
Total stocks and bonds
Asia Steamship Company
Persia Steamship Company
Included In the
00
00
00
00
00
00
00
00
00
00
96,051,000 00
434,443,798 50 164,978,961 00
29,736,500 00
84,274,200 00 185,190,637 50
29.736.500 00
464,180,298 50 164,978,961 00
84,274,200 00 214.927,137 50
£100
£100
revenues
00
00
00
00
00
66,000 00
199,800 00
96,051,000 00
Total stocks
Total bonds
♦
$
£100
£100
£100
£100
and transportation, and traffic statistics herein
reported.
NO. 14—SOUTHERN PACIFIC COMPANY—STOCKS AND BONDS OF OTHER
COMPANIES OWNED^JUNE 80 1910—See next page.
NO. 17 and 18—PROPRIETARY COMPANIES—ASSETS AND
LIABILITIES—JUNE 30 1910.
Total
June 30 1910.
ASSETS.
Total
June 30 1909.
Capital Assets—
Cost of road and franchises
Expenditures for
Total
new
9,518,285 12
$734,865,369 03
14,772,139 62
__
Sinking funds (Table No. 21)
Trust funds (Table No. 23)
Total..
8,974,107 97
Total,
June 30 1909.
Preferred Stock
Funded and other fixed
debt (Table No. 81
_.
$309,816,272 00
29,000,000 00
$309,816,272 00
25,800,000 00
359,390,896 35
1,898,000 00
356,878,812 88
2,034,000 00
$700,105,168 35
$694,529,084 88
interest-bearing
$724,764,759 75
16,005,173 95 Equipment Trust Obligations (Table No.8)
692,473 15
527,549 81
$750,329,981 80
.
Total,
June 30 1910.
LIABILITIES.
Capital Liabilities—
$715,790,651 78 Capital Stock
$725,347,083 91
lines
$741,297,483 51
•
r ~£3J
Total
•
Current Assets—
Cash
Loans and notes receivable.
Agents and conductors
Traffic and car service
Individuals and companies.
U. S. Government transportation
Bonds owned—unpledged (Table No. 19).
Cash and bonds deposited against mort¬
gage bonds satisfied
Bonds to be exchanged for refunding bonds
Material and supplies
$508,642
515,297
391,128
25,940
1,069,872
843,808 78
122,000 00
3,438,132 06
Total
•
•
•
•
•
•
■
•
•
•
■
•
$8,735,233 79
'
"
Deferred Assets—
Individuals and companies
Land and other property
Stocks owned—unpledged (Table No. 19)
351.901
Total
360,434
13,148
1,000.852
91,368
789,788
73
41
22
66
Interest accrued
on
not due
$397,002 43
337,605 00
bonds to June 30, but
Mortgage bonds satisfied
64 Matured or called bonds
I Individuals and companies
914,758 78 Traffic and car service.
72,000 00 Loans and notes payable
3,533,192 06 Vouchers and pay-rolls
Total
$4,670,510 13
388,005 00
•
627,667 22
8,275 00
631,000 00
33,713 92
11,63048
277,421 79
50,000 00
2,296,194 29
Dividends due—unpaid
$7,524,711 00
|$56 5,681 18
•
-636,906
8,361
607,000
103,713
6,298
266,946
150,000
2,373,088
•
•
39
00
00
92
23
17
00
37
$5,106,000 26
•
'1
1"
Deferred Liabilities—
$641,409 47 Individuals and companies
a
539,227 58 Taxes assessed but not due
337,626 41 Sinking funds uninvested (Table No. 21).
$389,739 23
359,246 39
_
$407,983 99 Coupons matured—unpaid.
341,183 51 Coupons due July 1
•
45!
42
58
47
96,969 14
1,723,442 35
_
Current Liabilities—
54
02,
$1,100,886 64
$1,518,263 46
•
Total
□
$471,078 33
•
$755,411 18
•
•
•
161,602 89
$1,014,131 14
•
•
•
419,117 54
89,555 94
$1,264,084 66
.
Proprietary Companies—
Galveston
Ry. Co
Harrisburg
250 14
&
San
Antonio
Houston East & West Texas Ry. Co
Houston & Shreveport RR. Co
Louisiana Western RR. Co
Morgan’s Louisiana & Texas RR. & SS. Co
Oregon & California RR. Co
Texas & New Orleans RR. Co
Total...
262,068
52,133
11,522
33,672
306,356
1,576
93,407
141,341 73
16,194 35
-
$45,817,776 13
Contingent Assets—
Unadjusted accounts
S. P. Co. unadjusted accounts
Individuals and companies
Traffic unadjusted
Land grant accounts (Table No. 22)
$15,729
273,605
26,456
253,373
1,150,087
$14,248 41
42,046 03
33
65 Morgan’s Louisiana & Texas RR.& SS. Co.
98 Southern Pacific RR. Co
11 Southern Pacific Terminal Ca
Texas & New Orleans RR. Co
34,015
201,743
1,833
30.543
$762,563 99
Southern Pacific Company
Co
Houston East & West Texas Ry. Co
Houston & Texas Central RR. Co
Iberia & Vermilion RR. Co
..
73
97
54
54
25
12
58
a
Proprietary Companies—
$1,833 98 Direct Navigation Co
5,383 90 Galveston Harrisburg & San Antonio Ry.
$1,576 12
$474,936 06
Total
$41,347,475 73 Southern Pacific Company.
88
07
34
15
17
$6,653 13
353,869 59
,
Central Pacific Ry. Co
Direct Navigation Co__
—
11,522
52,133
157,644
148,712
109,315
3,152
23,428
242,406
54
97
22
03
84
24
02
72
Individuals and
companies
contracts
Profit and loss (Table No. 16)
Fund for refunding outstanding old bonds
of S. P. RR. Co
Total assets._.i
....
$1,719,251 61
$1,325,034 54
$1,053,724
$3,856,415 54 Profit and Loss (Table No. 16)
97
$809,519,418 93
$797,344,319
84
99
03
35
18
57
11
96
85
70
$762,563 99
$474,936 06
$16,155,901 18
$17,079,499 10
$201,252 89
$195,364 70
18,292 81
511,441 98
127,492 45
1.026.949 24
21,040 38
38,036 22
1,468,886 76
806,090 29
105,727 64
974.818 47
Principal of deferred payments on land
Total
18,656
42,046
16,194
146,488
45,842
30,543
3,667
23,873
142,651
Contingent Liabilities—
Floating equipment replacement fund—
Rolling stock replacement fund
45,581,80 Insurance fund
358,090 63 Unadjusted accounts
560.839 39 S. P. Co. unadjusted accounts
.
$4,971 32
Total
Total
liabilities
2,539.604 38
973.452 88
$5,308,582 99
$3,699,868 14
$81,502,561 24
$75,190,846 74
$809,519,418 93 $797,344,319 84
Dec. 17
THE CHRONICLE
1910.]
NO. 14—SOUTHERN PACIFIC COMPANY—STOCKS AND BONDS OF
OTHER COMPANIES OWNED—JUNE 30 1910.
Total
Rate
Per
Outstanding
Cent June 30 1910.
Stocks.
$40,000,000
500,000
25,000
1,000,000
5,000,000
Associated Oil Co
Beaver Hill Coal Co
Independence & Monmouth RR. Co__
Kern Trading & Oil Co
Los Angeles Ry. Co..
Merced Canon Ry. Co
Mexican International RR. Co
Northwestern Pacific RR. Co
Pacific Electric Ry. Co
Pacific Mail SS. Co
Rio Bravo Oil Co
Rubicon Water & Power Co
Sunset RR. Co
Sunset Western Ry. Co
Wells Fargo & Co.’s Express
Stocks of other Oil Companies
Stocks of Land and Townsite
35,000,000
20,000,000
20,000,000
850,000
500,500
500,000
15,800
Total Owned by
Southern Pa¬
cific Co. (all
unpledged).
00 $20,069,022 00
00
500,000 00
00
12,750 00
00
1,000,000 00
00
2,250,000 00
00
00
00
00
00
00
00
17,500,000 00
10,000,000 00
10,010,000 00
849.500
500.500
250,000
7,900
00
00
00
00
1,566,644 40
Com¬
panies
126,366 66
Stocks of miscellaneous Companies—
Total Stocks
—
1,668,420 00
$66,311,103 06
^
Associated Oil Co. first mortgage
Associated Oil Co. first refunding
mortgage
Angeles
Interurban
Ry.
Angeles Pacific Co. general
solidated mortgage
Northern Pacific Terminal
mortgage
Northwestern Pacific RR.
Co.
$750,000 00
5
7,296,000 00
7,296,000 00
5
9,020,000 00
4,510,000 00
5
1,913,000 00
893,000 00
6
3,443.000 00
10,000 00
4H
5
5,956,000 00
8,494,000 00
5,956,000 00
770,000 00
4
200,000 00
140,000 00
5
4
500,000 00
316,000 00
50,000 00
158,000 00
first
re¬
funding mortgage
Pacific Electric Ry. first mortgage
Riverside & Arlington RR. first mort-
San Josc-Los Gatos Interurban Ry.
first mortgage
Sunset RR. first mortgage
United States of Mexico Consolidated
Public Debt
•
United States of Mexico Redeemable
Internal Debt
*
Bonds of other Companies
Bonds of other Companies
Municipal bonds
Municipal bonds
$2,516,000 00
con¬
—
first
5
first
mortgage
Los
3
12,300 00
5
6
5
4,973,000
6,849,204
186,600
33,000
4,400
3M
6
00
00
00
00
00
Total bonds
$32,591,504 00-
Total stocks and bonds
$98,902,607 06
*
Mexican currency.
—The old-established financial and mercantile house of
Louis Sloss & Co. of San Francisco announces the inaugura¬
tion of a bond department to handle high-grade investment
securities.
Eugene R. Hallett, associated with N. W. Hal¬
sey &
years,
Co.,bankers,in their California office for a number of
has been engaged as manager, and Charles R. Blyth,
formerly resident manager for Geo. H. Burr & Co., dealers
in commercial paper, has been chosen as Secretary.
The
firm of Louis Sloss & Co. dates back to the pioneer days of
California. They have in the past been particularly in¬
terested in the development of Alaska, having large financial
affiliations there.
Their banking offices in San Francisco
are
located
on
the ninth floor of .the
Bldg, (owned by the firm), and they
Alaska Commercial
that they
prepared to offer the facilities of their organization in
any matter relating to the investment of funds.
—C. Frederick Childs, who was for two years or more
manager of the Chicago office of Fisk & Robinson, and after¬
wards appointed manager of the bond department of the
Commercial Trust & Savings Bank (since merged in the
Continental & Commercial Trust & Savings Bank), has re¬
signed his position with the latter institution, and has organ¬
ized the firm of C. F. Childs & Co., to do a wholesale bond
business with Chicago as headquarters.
Fuller details will
be given later.
It is understood that among the stock¬
holders will be many Chicago and New York capitalists.
—The old established banking and Stock Exchange firm
of W. E. Hutton & Co., New York and Cincinnati, are dis¬
tributing an interesting little booklet called “Opportunity,”
being devoted to odd-lot investments. On the title page
the following
paragraph appears: “Twenty-five years’ ex¬
perience in the business of supplying suitable investments
for individual clients dead us to believe that the suggestions
made herein will be of value to those who, from time to time,
have funds for investment.”
A copy will be mailed upon
announce
are
request.
-Wm. A. Read & Co., bankers, are offering to investors
this week two issues which are tax-exempt in New York
State, namely Minneapolis St. Paul & Sault Ste. Marie Ry.
Co. (“Soo Line”) 4% leased line stock certificates, which
will net about 4.40%, and Queens Borough Gas & Electric
Co. general mortgage
5% gold bonds due 1952, netting about
5%. Full particulars will be given upon application made
to
any of the firm’s offices.
—In anticipation of the tax date in this
city, which occurs
Jan. 9 1911, A.M. Kidder &
Co., bankers, 5 Nassau St., this
city, are offering a selected list of guaranteed and preferred
railroad stocks which are
exempt from taxation. These
tax-exempt stocks yield 3.85% to 5.80%. A special de¬
scriptive circular will be mailed on application.
—Mr. C. H. Hensel,
formerly of the bond department of
Frederic H, Hatch & Co., is
now associated with Fisk &
Robinson as manager of their Railroad and Industrial Bond
Department.
»
2£hje (frnmmjeraal
EPITOMeT
COMMERCIAL
Friday Night, Dec. 16 1910.
The business world still keeps close to shore, though there
is the usual holiday trade, and monetary conditions, both at
home and abroad, seem to be more satisfactory.
During
the year 1910, too, the country has been enriched by bounti¬
ful harvests.
The metal trades continue quiet with prices
in some cases lower.
The South continues to get high prices
for its cotton and cotton exports have been notably increas¬
ing.
LARD on the spot has advanced, owing to strength in the
market for live hogs at times, a rise in prices for futures
and light offerings of product.
Trade has been quiet.
Prime Western 10.60c., Middle Western 10.50c. and City
steam 10@1034c.
Refined lard has been quiet and firm;
Continent 11c., South America 11.50c. and Brazil in kegs
The speculation in lard futures here has been stag¬
At the West the trading has been active and at times
excited with frequent and sharp fluctuations in prices.
On
the whole the tone of the market has been firmer, owing to a
rise in live hog prices, a disappointing movement of hogs
to market and buying by packers and commission houses.
12.50c.
nant.
Bonds.
Los
1649
DAILY CLOSING PRICES OF LARD FUTURES IN NEW YORK.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
January delivery
10.55
10.25
10.45
10.40
10.45
10.50
May delivery.
10.35
10.20
10.20
10.40
10.25
10.30
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
January delivery
10.25
10.10
10.15
10.32** 10.25
10.25
May delivery.
PORK
10.02**
9.87**
9.92** 10.10
9.97** 10.02**
the spot
has been quiet and irregular. Mess
$20 50@$21, clear $20@$22 and family $23@$24 50.
Beef
has been quiet and steady; mess $14 50@$15; packet $16@
$16 50; family $17 50@$18 50 and extra India mess $30.
Cut meats have been in moderate demand and
generally
steady. Pickled hams, regular, 113^@ 14c.; pickled bellies,
clear, 143^>@17^c.;
pickled ribs 1324@153^c. Tallow
quiet and steady at 734c- for City. Stearines have been dull
and irregular;
oleo 9 34 @9 Me*; lard 1134c- Butter has
been fairly active and firmer; creamery extras 31c.
Cheese
has been quiet and steady; State, whole milk, colored, Sept.,
fancy, 1534c. Eggs have been quiet and steady; Western
firsts 35@36c.
OIL.—Linseed has been dull and easier; City, raw, Ameri¬
can seed, 93@94c.;
boiled 94@95c.; Calcutta, raw, $1 03.
Cottonseed has been quiet and steady; winter 7.25@8.15c.;
summer white 7.25@8.00c.
Cocoanut has been quiet and
easier; Cochin 10% @10 34°.; Ceylon 9%@9%c. Olive has
been quiet and steady at 90@95c.
Corn has been in good
demand and firm at 7@7.05c.
Lard has been quiet and
firm; prime 95c.@$1; No. 1 extra 65@70c. Cod has been
active and firm; domestic 53@55c.; Newfoundland 55@58c.
COFFEE on the spot has been quiet but prices have re¬
mained firm, owing to the strength of the primary markets
in Brazil.
Firm offers from Brazil have latterly been ad¬
vanced.
Rio No. 7 here 1334@13%c.; Santos No. 4, 13%@
14c.
West India growths have been quiet and generally
steady; fair to good Cucuta 14%@14%c. The speculation
in
future
on
contracts has
been active.
Prices have shown
irregularity, but in the main the trend has been upward,
owing to the strength of the spot situation in Brazil, a further
rise in European quotations and brisk buying for local out¬
side and foreign account.
The principal selling has been to
secure profits.
Closing prices were as follows:
December. 11.15c. March
11.20c. June
January _11.15c. April
February 11.15c. May
11.13c. July
11.06c. August
_
-11.00c. Septemb’r 10.80c.
-10.95c. October
10.66c.
-10.88c. November 10.66c.
__
SUGAR.—Raw has been quiet and steady.
Centrifugal,
96-degrees test, 4c.; muscovado, 89-degrees test, 3.50c.;
molasses, 89-degrees test, 3.25c. Refined has been quiet
and steady; granulated 4.80c.
Teas have been firm and
more active.
Spices have been quiet and generally steady.
Wool has been dull but firm.
Hops have been in good
demand and stronger.
PETROLEUM.—Sales have decreased of late, but prices
have been steady.
Refined, barrels, 7.40c.; bulk, 3.90c.;
cases, 8.90c.
Gasoline has been firm and moderately active;
86 degrees in 100-gallon drums 18 %c.; drums $8 50 extra.
Naphtha has been in good demand and firm; 73@76 degrees
in 100-gallon drums 16%c.; drums $8 50 extra.
Spirits of
turpentine has been in moderate demand and steady at 78c.
Rosin has been quiet and steady; common to good strained $6.
TOBACCO.—Trade in domestic leaf has been of small
proportions
as a rule during the week.
The high prices ruling
have made manufacturers averse to anticipating require¬
ments.
Havana and Sumatra have been moderately active
at firm prices.
COPPER has declined with business limited to small
job¬
bing sales. The output continues to exceed consumption.
Lake 12%@12%c.; electrolytic 1234 @12.60c.; casting
1234
@12%c. Lead has been dull and steady at 4.45@4.55c.
Spelter has been dull and easier at 5.70@5.85c. Tin has
been quiet and weaker; spot 38c.
Iron has been dull and
steady; No. 1 Northern $15 25@$15 50; No. 2 Southern
$15 25.
Finished material has been less
have been generally firm.
active, but prices
1650
THE CHRONICLE
On
COTTON.
Dec. 16 at—
Friday Night, Dec. 16 1910.
THE MOVEMENT OF THE 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
417,201 bales, against 400,593 bales last week and 432,629
bales the previous week, making the total receipts since
Sept. 1 1910 5,333,835 bales, against 4,689,983 bales
for the same period of 1909, showing an increase since Sept. 1
1910 of 643,852 bales.
Sat.
Receipts at—
Galveston
Port Arthur
Texas City, &c_
New Orleans
Tues.
Wed.
15,350
4,517
14,114
14,188
30,914
16,110
15,707
6,592
20,858
18,751
3,670
2,000
3,887
2,587
2,131
166
583
9
10,043
14,970
12,956
9,147
9,689
1,409
1,342
1,927
1,388
845
957
580
738
5,689
1,016
7,112
397
4,355
2,815
3,228
1,375
3,492
5,063
26,691
304
400
448
941
100
262
50
497
1,265
3,176
7,985
13,262
16,351
_j
Gulfport
3,543
50
100
_
Jacksonville, &Cj
Savannah
Brunswick
Charleston
.
Georgetown
Wilmington
Norfolk
J
Newp’t News, &C
New York
Boston
Baltimore
Fri.
Thurs.
17,983
6,700
—
Mobile
Pensacola
Total.
Mon.
17,744
-
„
-
-
11,686 109,787
11,217
33,968
11,735 97,590
2,284
2,284
2,470 18,288
6,000
8,050
583
1,441
9,556 66,361
14,700 14,700
2,424
9,335
_
153
786
,
210
290
'
_
Philadelphia
—
Totals this week.
_
_
7,985
_
—
68,753
—
77,086
—
74,806
—
61,292
—
60,427
—
74,837 417,201
The following shows the week’s total receipts, the
since Sept. 1 1910, and the stocks to-night,compared
last year:
1910.
Receipts to
Dec. 16.
This
week.
1909.
Since Sep
1 1910.
1909.
211,410
208,037
221,160
8,489
74,387
156,180
183,796
21,272
37,913
126,807
23,816
34,549
27,747
31,4o6
24,234
39,103
252,053
1,907
16,140
4,509
129,023
2,733
15,429
5,203
417,201 5,333,835 204,324 4,689,983 1,092,239
816,165
,
76,251 1,635,583
61,600
984
23,547
39,583
635,087
7,981
.
_
_
_
_
7,535
2,236
27,743
13,687
5,317
52
684
255,721
341,355
8,742
2,818
4,507
33,013
248
^
Philadelphia
155,181
78,959
26,178
1,056,823
186,679
174,923
9,472
17,401
1,047
_
.
2,768
50
Total
with
1910.
Galveston
109,787 1,886,542
Port Arthur
11,217
89,194
Texas City, &c_^ 33,968
173,438
New Orleans
97,590
802,169
Gulfport
^
2,284
8,489
Mobile
18,288
166,005
Pensacola
8,050
43,020
Jacksonville, &c_
1,441
14,716
’
Savannah
66,361 1,004,338
Brunswick
14,700
154,591
Charleston
9,335
225,642
656
Georgetown
Wilmington
5,068
297,629
Norfolk.
26,691
385,768
2,497
N’port News, &c_
New York
1,265
3,631
Boston
3,176
16,398
Baltimore
7,985
59,062
_
total
Stock.
Since Sep
1 1909.
This
week.
602
723
50,328
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
Receipts at—
1910.
Galveston
Pt. Arthur, &c.
New Orleans.
Mobile
Savannah
Brunswick
Charleston, &c
Wilmington.
1909.
109.787
45,185
97,590
18,288
66,361
14,700
76,251
1907.
141,587
1906.
21,522
6,292
99,196
20,551
59,974
16,028
7,672
17,417
26,621
984
1905.
122,413
8,705
110,567
8,517
60,841
5,740
4,264
3,696
20,756
66,157
10,575
52,772
7,312
39,115
7,460
2,526
5,479
21,995
84,636
15,022
52,563
36,050
6,926
9,491
31,576
75
24,261
39,583
7,535
27,743
13,687
5,369
9,472
17,401
1,047
5,252
184
875
527
25,426
15,907
7,833
22,611
417,201
204,324
403,352
391,364
354,207
236,489
0,335|
5,063
26,691
_
Norfolk
N’port N., &o
All others
Total this wk_
1908.
Since Sept. 1. 5,333,835 4,689,983 5,635,647 4,412,641 5,459,847 4,838,210
The exports
for the week ending this evening reach a total
356,425 bales, of which 185,274 were to Great Britain,
41,073 to France and 130,078 to the rest of the Continent.
Below are the exports for the week and since
Sept. 1 1910.
of
Week ending Dec. 16 1910.
Exported to—
Exports
from—
Great
Conti¬
JBritain. Fr'nce nent.
Galveston
Port Arthur...
Texas City. &c.
New Orleans..
Mobile
Pensacola
....
....
Gulfport
From Sept. 1 1910 to Dec. 16 1910.
Exported to—
Great
Total.
Conti¬
Britain. France.
34,095
58,785 92,880
11,217
11,217
14.114 13,262
6,592 33,968
83,140 5,970
8.509 97.619
2,632 8,046
10.67S
8,000
60
8,050
684,826 187,876
15,559 25,789
126,595 13.262
395,770 50,611
31,310 15,411
17.207 10,238
‘
nent.
Total.
555,360 1,428,062
47,846
89,194
8,735
148,592
130,747 577,128
13,921
60,642
15,675
43,120
New Orleans
1,320
9,495
4,200
1,000
6,300
3,000
2,500
15,000
7,909
26,801
42,815
44,707
152,929
42,760
20,313
30,519
__
Galveston
Savannah
Charleston
Mobile
Norfolk
New York
Other ports
..
Total 1910.
Total 1909
Total 1908.
_
LXXXX1.
Shipboard, Not Cleared for—
Great
Britain. France
Ger¬
many.
5,959
24,001
Other
Foreign
9,893
30,345
7', 500
300
Coast¬
wise.
Leaving
367
Total.
Stock.
195,712
116,868
177,046
33,913
39,437
16,571
247,153
52,064
878,764
606,829
787,953
"466
l",706
12,000
1,000
25,448
94,542
6,750
4,000
34,950
14,885
4,900
28,000
64,410
52,075
87,466
42,938
31,355
59,480
20,552 213,475
60,886 209,336
29,855 360,249
250
2',666
20,050
3,900
2,300
1,000
1,100
11,885
Speculation in cotton for future delivery has been quiet
are slight, leaning towards a
trifling advance on some months. Private reports in regard
to the ginning from Dec. 1 to Dec. 13 have been
bullish,
being in the nature of claims that the total for that period
and.net changes for the week
will show a marked falling off as
compared with that from
Nov. 14 to Dec. 1.
The Census Bureau figures on this sub¬
ject will be given out next Tuesday. They are awaited with
unusual interest as tending either to confirm or reject
the
recent Government estimate of the
crop, i. e., 11,426,000
bales, exclusive of linters. The spot markets at the South
have been reported active and firm.
Exports have been
liberal and are now considerably in excess of those for the
same period last
season, a fact which has tended of itself to
offset the continued large receipts at the ports and interior
towns, to say nothing of the rumors of small ginning. Then,
too, Liverpool prices have shown more or less firmness and at
times the spot sales at that centre have been
liberal, on one
day reaching 15,000 bales. It has been persistently asserted,
though not without denial, that the East India crop will show
a considerable
falling off as compared with the last one; but
this is controverted by the official
estimate, which is for a
crop of 4,668,000 bales of 400 lbs. each this year, against
4,502,000 bales last year. The Liverpool stock of American
cotton is approximately 300,000 bales smaller than it was a
year ago.
Reports as to the condition of Lancashire’s trade
have been in the main favorable.
ported to show
The rainfall in Texas is
re¬
deficiency and there is talk about this
in connection with the possibilities for the next
The
crop.
National Board of Fire Underwriters states that the
shortage
of water at Dallas, Texas, is the worst in 18
years, owing to
two years of light rainfall.
Large spot interests have been
steady buyers aiid leading bulls have given support from
time to time.
Certain large Southern commission interests,
heretofore bearish, have, it is understood, become bulls,
owing to reports of small ginning returns during the past
fortnight. On the other hand, the speculation has been
light and the public holds aloof, and even the cotton world
at large is apparently not thoroughly convinced of the cor¬
rectness of the recent Government estimate of
11,426,000
bales, exclusive of linters. While the retail and jobbing
trade in dry goods in this country may be up to about the
normal average for the holiday season, the reports from the
big New England centres are by no means altogether satis¬
factory. Some think, too, that the Government has under¬
estimated the crop, as it has more than once in recent years.
To some, the persistent big receipts at the ports and interior
towns are a stumbling block, however they be explained.
Furthermore, there are those who are puzzled by the rapid
increase in the stock at New York, where some 45,000 bales
have been added to it in about two weeks, giving rise to
queries why the cotton is coming here if there is such a good
sale for it at the South, as is so persistently reported. Also,
there has been steady liquidation for local, Western and Wall
Street account, and Liverpool has also sent some selling
orders.
There are intimations that a large outside long
interest has been in process of liquidation during the week.
Everybody is now awaiting the ginning report of next Tues¬
day and the action of the American spinners thereon.
European trade as a whole seems to be in no bad shape, but
America plainly lags behind.
To-day prices declined
slightly on liquidation and heavy receipts. Spot cotton here
has been quiet.
Middling upland closed at 15.15c., an ad¬
vance for the week of 5 points.
some
The official quotation for middling upland cotton in
New York market each day for the past week has been:
Dec. 10 to Dec. 16—
Middling uplands
Sat.
_15.05
Mon.
Tues.
15.05
15.05
%ed.
15.15
the
Thurs.
Fri.
15.20
15.15
!
'
_
Savannah
Brunswick
Charleston
0,337
8,634
Wilmington
....
—
Norfolk
Newport News
New York....
Boston
Baltimore
.
.
Portland, Me..
24,007 33,344
7,681 16,315
9,846
9,846
i
184,881
56,365
10,949
99.243
10,345
?,224
354
2.655
-
--
-
-
.
-
«
-
-
-
«
-
San Francisco.
Seattle
Tacoma
1,253
798
8.697
3,860
16.374
9,770
1,152
2,655
Total
J
Total 1909..-.
9,900
19,290
171,520 49,873
62,070
9,218
3,204
28,291
8.697
3,860
246,156
52,288
70,451
139,937
165
—
—
'96,745
4,730
33,105
1,671
27,614
18,051
6,439
400
Portland, Ore.
Pembina
Detroit
65,410
496,447
108,653
91,300
258,470
10,510
NEW YORK QUOTATIONS FOR 32 YEARS.
1910.C
1909
1908
1907
1906
1905
1904
1903
_
12.897
9.770
....
Philadelphia
318,138
66,800
45,527
29,962
27,614
18,051
9.10 1900
...11.90 1899
...10.55 1898
...12.20 1897
7.95 1896
...12.45 1895
...
...
...
...
...
...
.._
1894-C-.
5.75
1893
8.00
1892
9.88
1891
8.00
1890
9.38
1889
...10.31
1888
9.88
1887
...10.62
Futures
Market
Closed.
Spot Market
—
“'500
8.70
8.50
...10.12
7.69
5.81
5.88
7.19
8.56
6.439
400
”'566
Closed.
...
...
...
...
...
...
Sales of
Spot.
185.274,41.073 130.078,356.4251.904,649 450,864 1,470.036 3.825,549
39.89613.696
Saturday.
Monday—
Tuesday
Wednesday
Thursday
_
53.4751106.9661,284,578'680.866il,435,270 3,400,714
addition’to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not!
elMired, at the ports named. We add similar figures for
New York.
...15.15 1902.C
...15.15 1901
1886.C
1885
1884
1883
1882
1881
1880
...10.44
...10.38
...12.00
...12.00
1879
...12.38
...
...
9.50
9.19
...10.94
MARKET AND SALES AT NEW YORK.
-
[VOL.
j
_.
.
Friday
Total
—
Quiet, 5 pts. deo... Firm
Quiet
Very steady.
Quiet
Barely steady
Steady, 10 pts. adv. Steady
Steady: 6 pts. adv__ Barely steady
Quiet. 5 pts. dec— Barely steady
Spot and Contract.
Consum'n.
....
3,703
—
\
6,000 *0,120
2,900 2.0°°
~~t~
7,823
Total.
8,800 12,503
3,500 3,500
2,600 i 2,600
4,120
■
Con¬
tract.
.
•
gCJL 28,800 182.623
lowest and closing prices at
FUTURES.—The highest,
past week have been as follows:
New York the
Feb.— Jan.— Dec.—
Oct.—
RClosing ange Nov.— Closing Range Closing Range Sept.— Closing Range Augst— Closing Range July— Closing Range June— Closing Range May— Closing Range April— Closing Range March— Closing Range Closing Range Closing Range
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a
1908.
1907.
713,000
10,000
38,000
727,000
16,000
52,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
828,000 11,126,000
4,000
3,000
190,000
244,000
389,000
171,000
2,000
2,000
9,000
8,000
34,000
45,000
1,000
761,000
14,000
334,000
89,000
3,000
23,000
42,000
4,000
795,000
16,000
234,000
152,000
4,000
16,000
18,000
24,000
1909.
ci
XX
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00
Xx
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409,000
•
693,000
609,000
464,000
1,237,000 :1,819,000 :1,370,000 1,259,000
68,000
55,000
136,000
101,000
876,209
993,687
527,175 1,078,544
75,000
67,000
58,000
92,000
Egypt,Brazil,&c.,aflt.for EuropeStock in Alexandria, Egypt
223,000
261,000
230,000
272,000
Stock in Bombay, India
344,000
211,000
263,000
417,000
Stock In U. S. ports
987,319
816,165 1,148,202
1,092,239
545,916
Stock in U. S. Interior towns
883,158
778,623
831,361
86,114
TJ. S. exports to-day
39,099
52,895
51,191
Total European stocks
India cotton afloat for Europe
Amer. cotton afloat for Europe.
_
4,933.478 4,834,858 5,126,003 4,451,558
supply
Of the above, totals of American and other descriptions are as follows:
Total visible
American—
Liverpool stock
bales.
Manchester stock
Continental stock
Amerioan afloat for Europe
U. S. port stocks
U. S. Interior stocks
U. S. exports to-day
650,000
54,000
390,000
993,687
_
_.
1,092,239
1,092,239
831,361
51,191
603,000
947,000
29,000
61,000
565,000
672,000
527,175 1,078,544
816,165 1,148,202
883,158
778,623
39,099
52,895
&c.—
Liverpool stock
111,000
4,000
9,000
19,000
101,000
92,000
272,000
263,000
London stock
1
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
101,000
5,000
12,000
21,000
136,000
58,000
230,000
417,000
■ -
110,000
16,000
10,000
79,000
55,000
75,000
223,000
344.000
4,933,478 4,834,858 5,126,003 4,451,55
UPlan<b Liverpool
8.lid.
Middling Upland, New York
15.15c.
Egypt, Good Brown, Liverpool..
11 ^d.
Peruvian, Rough Good, Liverpool
lO.OOd.
Broach, Fine, Liverpool.
7 ll-16d.
Tlnnevelly,. Good, Liverpool
7Hd.
bfea£;;;:.:
110,000
10,000
9,000
44,000
68,000
67,000
261,000
211,000
912.000
780,000
980,000
871,000
4,062,478 3,854,858 4,346,003 3,539,558
vJ8lble supply
Continental
617,000
42,000
385,000
876,209
987,319
545,916
86,114
4
4,062.478
3,854,858 4,346,003 3,539,558
Total American
East Indian, Brazil,
8.03d.
15.15c.
12 %d.
9.50d.
1
7d.
4.82d.
6.10d
9.10c.
11.80c
8 13-16d. 10 ll-16d
7.80d.
11.75d
4 ll-16d. 5 ll-16d
4 ll-16d.
5^d
import^ for the past week have been 197,00*
•;./ <} :
The above figures for 1910 show
an
increase over last-Wee]
IlDt 11 a Ko loo ?
o| W,4iq
bales ov?r'1909, a
bales;s a
crease of ; 192,52* bhlee frdfn
1908/ and a gain of 481,92
bateteObTfef 1907n
i
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Q
The above totals show that the interior stocks Have in¬
creased during the week 26,369 bales and are to-night 52,738
bales more than at the same time last year.
The receipts
at all the towns have been 116,363 bales more than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports
the week and since Sept. 1 in
The results for
follows:
Friday night.
the last two
years are as
1909-
191 o
Since
Since
Week.
Sept. 1.
Week.
Sept. 1.
.22,977
6,635
1,054
6,418
13,036
7,496
9,564
8,942
221,517
125,488
19,172
56,273
32,563
77,245
73,717
2,348
2,232
4,381
7,823
190,373
96,486
6,287
35,366
20,268
52,390
81,663
56,070
605,975
37,875
483,133
&C..12.426
79,141
15,078
21,355
3,016
1,629
1,251
40,940
13,111
17,578
October 21—
Total Continental stocks
W ® xx xx
it. 1-1 to Co
Xx oc co o © co xx m oi i&. © it.
ci
ob. b. co bobs bo oob» H*b. wxx*. ax
HA
09
761,000 11,048,000
4,000
5,000
63,000
73,000
1910.
CO 00 © It. CO xx © -4
HA
©
day evening. But to make the total the complete figures
for to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
bales.
CO
CO CO CO
l-xi-xxx
x*
cobs it. co"co to to
W©»©WXxWW©©©WM©®MO©M cooitka*J^ooooewH«qiti
coo)Qoococoi-*o)ci^o-aciit.coh-oit.to »©©©©oww©a©©wxx
©
THE VISIBLE SUPPLY 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
consequently all foreign figures are brought down to Thurs¬
December 16—
Stock at Liverpool
Stock at London
Stock at Manchester
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10.
14.82
HA ha
COCO
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1
1
00
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—
Dec.
@
HA
MM
1 1
t
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H-
l
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ha ha
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14.80 14.74
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—
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HA HA
i
15. G@ 15.06@
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i
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—
14.9— 5 15.30— 1@15.31 15.30— 1 15.32— 15.23@ 15.9—2 15.4— 15.15 14.97— 14.86— 7@14.87 14.79—8
it. CI
|©
14.90®
14.96
l i
I
I
—
15.21
AT THE INTERIOR TOWNS the movement—that is,
the receipts for the week and since Sept. I, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.
^
II
1651
THE CHRONICLE
Dec. 17 1910. j
Shipped—
Via
Via
Via
Via
Via
Via
Via
St. Louis
Cairo
Rock Island
Louisville
Cincinnati
_
___
_
_
_
__
480
Virginia points
other routes, &c.
_
...
_
Total gross overland
Deduct shipments—
Overland to N. Y., Boston,
Between interior towns
984
453
__
Inland, &c., from South.
_
Total to be deducted
Leaving total net overland*
559
13,863
115,574
5,896
71,629
42,207
490,401
31,979
411,504
The foregoing shows the week’s net overland movement
has been 42,207 bales, against 31,979 bales for the week last
year,
and that for the
land exhibits
an
season
increase
to date the aggregate net over¬
over a
year ago
of 78,897 bales.
1909
1910
Since
Since
In
Sight and Spinners'
Takings.
Receipts at ports to Dec. 16
Week
Net overland to Dec. 16
South’n consumption to
.417,201
42,207
51,000
Dec. 16.
Total marketed.
Interior stocks in excess
.510,408
26,369
.
.
.
.
Week
Sept. 1.
204,324
5,333,835
490,401
31,979
660,000
52,000
6,484.236
288,303
19,362
780,583.
.
Sept. 1.
4,689,983
411,504
806,000
5,907,487
695,460
i
Came Into sight during week.
Total in sight Dec. 16.
_
.536,777
North’n spinn’s takings to Dec. 16
Movement into
—
■
.
.
307,665
6,602,547
75,141
1,090,724
122,47^
1,054/661
sight in previous years::
Week—
1908—Dec. 19
1907—Dec. 20
1906—Dec. 21
.!
.
1905—I?ec. 22
Since Sept. 1—
Bales.
536,018 1908—Dec. 19489,022
492,785
Bales.
T,731,405
341,T87
QUOTATIONS FOR MipOI^NQOOT^OIf AT OTHER
MARKETS .-*-Below are the c^ing. quoteUQp* Mi middUftg
cotton at Southern and other > pyinoipal cptto® ^arket^^r
each
day of the week.
iu' ’
7/oV
1652
Week
THE CHRONICLE
Closing Quotations for Middling Cotton
ending
December 16.
Sat'day,
15
15
15
15
14*
14*
14*
14*
14*
14*
Wilmington
14*
14 13-16 14*
14 *
14*
14*
14*
14*
14*
14*
14*
14*
14*
14*
14*
15.30
14 *
15 *
15 *
15
14*
15*
15*
15.30
14 13-16
15*
15*
14*
15*
15*
15
15
15
14*
14*
14*
14*
14*
14*
14 *
14 *
14 9-16
14 9-16
14*
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
St. Louis..
Houston
Little Rock
15.30
14 11-16
14 9-16
14 9-16
14*
14*
14*
14*
14*
15.40
15
14*
14*
14*
28 to 61.
15
15.45
14 15-16
14*
15.40
14 15-16
15*
15*
15 7-16
15
15 7-16
15
Monday, Tuesday, Wed day, Thursd’y, Friday,
Dec. 10.
Dec. 12.
Dec. 13.
Dec. 14.
Dec. 15.
Dec. 16.
_
_
__
Range
Closing.
April—
Range
Closing
May—
Range
Closing
June—
Range
Closing
past three years have been
Exports
Range
Closing
August—
Range
“
Closing
November.
Quantities;
Wheat..bu
Closing
1909.
11 Months.
2.482,691 19.264,880
943.186
7.311.960
Flour.bbis
Wheat* bu
8,402,984 43.183,948
1,014,607
8.440.705
14.91-.08 14.84-.98 14.90-.98 14.96-.06 14.99-.07 14.95-.01
14.97-.98 14.97-.98 14.90-.91 15.01-.02 14.97-.00 14.95-.96
8
S
6,929.113 56.643.771
1,129.980 22.217,358
13.917
98.580
1,235,669
—
@ .08
15.07
*
—
@
—
*
15.07
—
@
15.01
—
*
—
@
—
15.12
*
—
@
—
15.10
•
—
@
—
15.06
*
15.20-.30 15.13-.28 15.17-.29 15.26-.36 15.30-.38 15.25-.33
15.28-.29 15.27-.28 15.19-.20 15.31-.32 15.30-.31 15.26 —
—
@
15.38
—
*
—
@
15.31
—
•
—
@
15.29
—
*
—
@
—
*
15.41
—
@
—
15.40
*
—
@
15.36
—
*
I5.40-.51 15.34-.49 15.38-.40 15.46-.58 15.51-.61 15.47-.54
15.49-.50 15.48-.49 15.40-.41 15.54-.55 15.51-.52 15.46-.47
—
@
15.54
—
•
—
@
15.53
—
*
—
@
15.45
—
*
—
@
15.59
—
*
—
@
—
15.56
*
—
@
15.52
15.50-.61 15.45-.59 15.48-.60 15.58-.68 15.62-.70 15.56-.64
15.59-.60 15.58-.59 15.51-.52 15.64-.65 15.62-.63 15.56-.57
@
—
14.99
—
©
—
f—
—
@
15.10
—
*
—
@
—
13.50
—
—
15.00-.01
@
15.01 — 15.15
—
—
@
13.48
—
—
—
—
15.25-.28
@
15.16-.19 15.12
—
13.60-.61
@
13.67-.69 13.67
—
—
—
O’ts&meal
Barley
Steady.
Steady.
Firm.
Steady.'
Steady.
Quiet.
Nominal.
Firm.
Firm.
Steady.
Steady.
11 Months.
6.793.841 86,248,845
1,147.380 11,731,929
1.252.559
3,862,277
9
15.066.284 169.678.708
9
9
9
13,617.178 88.648.729 12,246.650 140.936,792
1.227.175 21,718,646
2.172.994 21,540.957
10
290.777
54,884
2,359,631
157,180
1.146.402
138,680
1,146,443
586.916
2.915.151
940.019
3,928,879
Breadst’ffs
Provisions
9.410,232 83.972,992 15.588,459 114,719.705
17,553,227 169.912,702
8.143,908 97.589.205
9,093,125 121,379.178 10.606.382 144.667.090
Cat.&hoga
1.058.415
7.603.347
1,170.042 13,993,553
1,537.471
Cotton
87.513,240 427.135,154 78.992,827 407.619.691 62,830,818 22.483,806
366.298.266
Petrol., Ac.
6,888.957 81.601,948
8.536.300 91.981.119
7.068,097 97,147,990
Total val. 113.014.752 697,902,646
113.380,753 749 593,246 97.595,995 800,509,848
*
Including flour reduced
to bushels.
Note.—All the above figures are* based on the
by the Bureau of Statistics, and cover about
monthly preliminary returns Issued
96% of the total exports.
'
INDIA COTTON MOVEMENT FROM ALL
PORTS.
—
—
@
—
13.64
—
—
Rye
—
*
November.
6,727.028 52,168.700 12,968,715 81.167,120 11,957,051
139,042,525
1,833,797 32.163.626
1,682,636 28,944,999
3.109,233 30,636,183
bu
December 15.
1910.
Receipts at—
Steady.
Steady.
1909.
Since
Week.
Options
1908.
11 Months.
8.560,825 84,332.326 14,651.351 110,112,119
Tone—
.
November.
Values.
Wht&flour
C’m&meal
October—
Range
1910.
from U. S.
follows:
as
Total bush
July—
*
during the month of November, and the eleven months, for
the
14.89-.92 14.76-.84 14.80-.86 14.87-.95 14.90-.97 14.92-.96
14.89-.91 14.84-.85 14.80-.81 14.89-.90 14.93-.95 14.92-.94
March—
Spot
EXPORTS OF BREADSTUFFS,
PROVISIONS, COT¬
TON AND PETROLEUM.—The
exports of these krticles
Com
December—
Range
Closing
January—
Range
Closing
February—
Range
Closing
56, lowest 22.
Charleston, South Carolina.—There has been no rain during
the week.
The thermometer has averaged 45,
ranging from
14*
14 18-16
NEW ORLEANS OPTION MARKET.—The highest,
lowest and closing quotations for leading
options in the New
Orleans cotton market for the past week have been as follows:
Sat’day,
has fallen
Monday, Tuesday, Wed'day. Thursd’y, Friday,
15
LXXXXI,
Charlotte, North Carolina.—Picking is completed. Rain
on one day of the
week, to the extent of two
hundredths of an inch. Average thermometer 39,
highest
on-
Galveston
New Orleans
Mobile
Savannah
Charleston
IVob.
Bombay
79,000
1908.
Since
Sept. 1.
Week.
Since
Sept. 1.
456.000 130.000
709,000
Week.
Sept. 1.
81,000
306.000
*
For the Week.
WEATHER REPORTS BY TELEGRAPH.—Advices to
Exports
from—
Since September 1.
Great
Conti¬ Japan
Britain. nent. ACMna Total.
Great
Britain.
Conti¬
Japan
by telegraph this evening from the South denote that the
nent.
A China.
Total.
weather during the week has favored
picking of cotton, Bombay—
1910....
which now in many sections is
12,000 17,000 29,000
6,000 198,000
96,000 300,000
completed or drawing to a
1909....
22,000 24,000 46.000
9,000
143,000 151.000 303,000
close.
1908....
2,000
21,000
18,000
the
41,000
Marketing of
2,000
crop continues quite free.
117,000
87,000 206,000
Calcutta—
1910
Galveston, Texas.—There has been rain on two days of the
2,000
5,000
7.000
1909....
2,000
2,000
2,006
week, the precipitation reaching ninety-eight hundredths
9,000
11,000
1908....
1,000
1,000
2,000
4,000
10,000
12,000
26.000
of an inch.
The thermometer has averaged 59, the
highest Madras
1910....
1,000
1,000
4,000
being 64 and the lowest 54.
9,000
13.000
1909
1,000
1,000
4,000
4,000
i,666
9,000
1908-...
1,000
Abilene, Texas.—Rainfall ninety-three hundredths of an
1.000
3.000
7,000
2,000
12,000
All others—
inch on three days of the week.
Average thermometer 37,
1910....
1,000
2,000
3,000
12,000
30,000
1,000
43,000
1909.
highest 42, lowest 32.
2,000
2,000
12,000
35,000
1,000
48,000
1908....
1,000
2.000
3,000
5,000
55,000
5,000
65,000
Palestine, Texas.—We have had rain on five days during
all—
the week, the precipitation
being thirty-seven hundredths Total
1910..—
2,000 14,000 17,000 33,000
24,000 242.000
of an inch.
97,000 363,000
The thermometer has averaged 44, the
1909—
3,000 24,000 24,000 51.000
highest
27.000 191,000 153.000 371.000
1908—
4,000 24,000 19,000 47.000
being 56 and the lowest 32.
14,000 189,000 166,000 309,000
San Antonio, Texas.—We have had rain on three
days dur¬
ALEXANDRIA RECEIPTS AND SHIPMENTS.
ing the week, the rainfall being sixty-four hundredths of an
inch.
Average thermometer 50, highest 62, lowest 38.
Alexandria, Egypt,
December 14.
Taylor, Texas.—Rain on three days of the week, the pre¬
1910.
1909.
1906.
cipitation reaching sixty hundredths of an inch. The ther¬ Receipts
(cantars)—
mometer has averaged 49,
This week
ranging from 36 to 62.
360,000
300.000
360,000 ]
Since Sept. 1.
New Orleans, Louisiana.—We have had rain on four
4,799,031
3,740,674
3,573,920
days
of the week, to the extent of
twenty-five hundredths of an
This
Since
inch.
This
The thermometer has
Since
This
Since
averaged 57.
Exports (bales)—
Week. Sept. 1.
Week. Sept. 1.
Week. Sept. 1.
Shreveport, Louisiana.—We have had rain on three days
To Liverpool
the past week, to the extent of
9,250 112,801
3,250 75,378
9,500 71,061
forty hundredths of an inch.
To Manchester
9,250 1 0,579
7.750 63,732
9,500 65,436
The thermometer has
To Continent
ranged from 32 to 70, averaging 51. -19,250 139,236
7,000 124,513 10,500 100,438
To
America._i
3,000 42,798
3,250 32,897
Vicksburg, Mississippi.—We have had rain on three days
4,150 19,633
during the week, the rainfall being twenty-two hundredths
Total exports.
40,780 395,414 21,250 296,520 33.750 256.568
of an inch.
Average thermometer 51, highest 69, lowest 37.
Note.—A cantar is 99 lbs.
Egyptian bales weigh about 750 lbs.
Helena, Arkansas.—Cotton is nearly all picked. We have
The statement shows that the receipts for the week were
had no rain during the week.
The thermometer has averaged
360,000 cantars and the foreign shipments 40,750 bales.
47, highest being 60 and lowest 22.
Memphis, Tennessee.—We have had no rain the past
MANCHESTER MARKET.—Our report received by cable
week.
The thermometer has ranged from 25 to
58, aver¬ to-night from Manchester states that the market continues
aging 42.
firm for both yarns and shirtings.
Manufacturers are gen¬
Mobile, Alabama.—Rain has fallen on two days during
erally
well
under
contract.
We
give
the prices for to-day
the week, the precipitation reaching fourteen hundredths of
below and leave those for previous weeks of this and last
an inch.
The thermometer has averaged 54,
ranging from year for comparison:
40 to 67.
us
*
•
•
-
•
•
•
•
•
.
•
•
•
•
„
»
.
mmm —
•
—
.
----
•
.
.
....
....
Montgomery, Alabama.—We have had rain on one day of
fifty-eight hundredths
1910.
the week, the precipitation
reaching
of an inch.
The thermometer has
ranged from 30 to 59,
averaging 47.
Selma, Alabama.—The week’s rainfall has been fifty-six
hundredths of an inch,on four days.
The thermometer has
averaged 43, ranging from 27 to 58.
Madison, Florida.—There has been no rain during the
week.
The thermometer has ranged from 31 to
65, aver¬
49.
aging
Savannah, Georgia.—There has been no rain during the
week.
The thermometer has averaged 47,
ranging from 28
to 63.
8H lbs. Shirtings, common
to finest.
32s Con
Twist.
d.
1909.
d.
s.
d.
s.
d.
Cot’n
Mid.
Upl’s
d.
8* lbs. Shirtings, common
to finest.
32s Con
Twist.
d.
d.
8.
d.
8.
d.
Cot’n
Mid.
Upl’s
d.
Oct
28
@
11* 5
6*@10 8
7.76 10*
@
11* 5
6
@9 11
7.71
10l8»e @
10«16 @
11* 5
@
@
11* 5
6
7
7
@10 7*
@10 9
@10 10
7* @10 10l2
7.81
8.00
7.85
8.10
@
@
@
11* 5
11* 5
11* 5
@
11
5
6
6
6
5
@9 11
@9 11
@9 11
@9 10
7.59
7.72
7.72
7.62
11 3-16®
12* 5
8.06 10*
7.95 10*
8.11 10*
11
5
12* 5
8
8
@
113-16@
11*
@
@
@
11* 5
5*@9 11
@10 0
@10 0
7.72
7.94
8.03
10*
NOV
4
ii
18
25
Dec
2
9
16
11
11*
11* 5
12
12*
5
5
@10 11
@11 0
8*@11 1*
10*
10*
10*
10*
11* r5
6
6
Dec. 17
THE CHRONICLE
1910.]
TAKINGS OF COTTON.
WORLD’S SUPPLY AND
1910.
Cotton Takings.
Week and Season.
Vlslhle
—
Bombay receipts to Dec. 15
Other India shlp’ts to Deo.
Alexandria receipts to Dec.
Other supply to Dec. 14*
Total
15. _
14
supply..
Deduct—
Visible supply
Week.
Liverpool—Deo. 8—Saxonia,
Michigan, 2,336; Zeeland, 2,290
Season.
4,773,984
4,612,059
supply Dec. 9
Visible supply Sept. 1
American in sight to Dec. 16
BOSTON—To
1909.
Season.
Week.
1,495,514
7,264,819
456,000
63,000
640,000
97,000
307,665
130,000
5,000
40,000
10,000
1,931,022
6,602,947
709,000
68,000
499,000
97,000
5,286,836 10,016,333 3,266,649
9,906,969
4,933,478
4,933,478 4,834,858
4,834,858
5,082,855
3,995,855
1,087,000
5,072,111
4,202,111
870,000
536,777
79,000
4,000
48,000
7,000
,
Dec. 16.
Total takings to Dec.
Of which American
Of which other
16
..
353.358
268.358
85,000
431.791
314.791
117,000
EUROPEAN COTTON CONSUMPTION TO DEC. 1.—
By cable to-day we have Mr. Ellison’s cotton figures brought
down to Dec. 1.
We also give revised totals for last year
that comparison may be made.
The spinners’
actual bales and pounds have been as follows:
October 1 to December 1.
Great Britain.
Continent.
takings in
Total.
For 1910.
Takings by spinners..—bales.
Average weight of balef—lbs.
TuirinirR in pounds
__
930,000
489
1,658,000
480
483.8
355,992,000
446.200,000
802,192,000
bales.
Takings by spinners
Average weight of bales—lbs.
Takings In pounds
610,000
895,000
1,505,000
490
487
488.2
298,900.000
435.865,000
734,765,000
According to the above, the average weight of the de¬
liveries in Great Britain is 489 pounds per bale this season,
against 490 pounds during the same time last season. The
Continental deliveries average 480 pounds, against 487
pounds last year, and for the whole of Europe the deliveries
average 483.8 pounds per bale, against 488.2 pounds last
season.
Our dispatch also gives the full movement for this
year and last year in bales of 500 pounds.
1910.
(000s omitted.)
Great Conti¬
Britain nent.
Spinners’ stock Oct. 1..
169
712
Supply
Consumption, 8 weeks
•
Spinners’ stocks Dec. 1
Great
Conti¬
Total. Britain nent.
972
892
1,141
1,604
234
598
1,218
872
Total.
1,452
1,470
881
520
1,864
2,745
1,360
832
520
2,090
2,922
840
840
1,360
361
1,024
1,385
312
1,250
1,562
000* omitted.
..
60
70
105
105
165
175
65
65
105
105
170
170
The
foregoing shows that the weekly consumption is now
175,000 bales of 500 pounds each, against 170,000 bales of
like weights at the corresponding time last year.
The total
spinners’ stocks in Great Britain and on the Continent have
increased 230,000 bales during the month and are now
177,000 bales less than at the same date last season.
SHIPPING NEWS.—As shown on a previous page, the
exports of cotton from the United States the past week have
reached 356,425 bales.
The shipments in detail, as made
from mail and telegraphic returns,
up
are as
follows:
NEW YORK—To Liverpool—Dec. 9—Cedric, 3,878 upland, 155
Sea Island
Dec. 13—Caronia, 838; Pannonia, 5,163
10,034
To Hull—Dec. 10—Idaho, 868
868
To London—Dec. 10—Minneapolis. 1,995
1,995
To Havre—Dec. 10—Niagara, 1,920 upland, 50 Sea Island,
4 foreign
Dec. 14—La Gascogne, 250
2,224
To Bremen—Dec. 12—Kaiser Wilhelm der Grosse, 3 Sea Island
3
•
•
._
•
•
•
To Antwerp—Dec. 9—Lapland, 350
To Genoa—Dec. 9—Prinzess Irene, 300
To Naples—Dec. 9—Prinzess Irene, 500
100_
350
—
300
Dec. 10—Indiana,
600
GALVESTON—To Liverpool—Dec. 12—Victorian, 24,552
To Manchester—Dec. 15—Telesfora, 9,543
To Bremen—Dec. 8—Cayo Bonlto, 9,643
Dec. 10—Tiberius,
Dec. 13—Inkula, 7,436.__Dec. 14—Mineola, 10,428
10,459
To Hamburg—Dec. 8—Adelheid, 2,676
To Reval—Dec. 13—Howth Head, 11,200
To Riga—Dec. 13—Howth Head, 500
To Barcelona—Dec. 15—Carolina, 3,543
To Venice—Dec. 15—Carolina, 1,150
To Trieste—Dec. 15—Carolina, 1,750
PORT ARTHUR—To Havre—Deo. 12—Atlas, 4,517...Dec. 15—
Pennine Range, 6,700
TEXAS CITY—To Liverpool—Dec. 12—Median, 14,114.
To Havre—Dec. 10—Kaduna, 13,262
To Bremen—Deo. 13—Inkula, 6,592
NEW ORLEANS—To Liverpool—Dec. 10—Patrician, 17,930
Dec. 15—Armenian, 22,200; Civilian, 19,010; Meltonian,
14,000
Dec. 16—Chancellor, 10,000
To Havre—Dec. 15—Langdale, 1,307
To Dunkirk—Dec. 15—Langdale, 4,663
To Bremen—Dec. 9—Andoni, 8,251
To Rotterdam—Dec. 15—Triddae, 250
To Havana—Dec. 8—Excelsior, 8
MOBILE—To Liverpool—Dec. 8—Ramon de Larrinaga, 2,632
To Havre—Dec. 15—Industry, 8,046
PENSACOLA—To Liverpool—Dec. 12—Mariner, 2,000—Dec. 16
—Ida, 6,000.
To Hamburg—Deo. 9—Tiverton, 50
SAVANNAH—To Liverpool—Dec. 9—Potomac, 3,129
Dec. 12
—Harewood, 6,208
To Bremen—Deo. 9—Bardistan, 5,302...Dec.
13—Nunima,
—
—
—
24,552
9,543
37,966
2,676
11,200
500
3,543
1,150
1,730
-
-
—
__
« »
„
6,450..........._
To
To
To
To
To
Reval—Dec.
.
13—Mallncher Y,206"..'.1”".””
Genoa—Dec.
Bremen—Dec. 13—Ovid, 7,681
WILMINGTON—ToJBremen—Dec.
United Kingdom
yards.
Canada
Cent. Amer. States & Brit. Hond..
Mexico
Cuba
Other West Indies and Bermuda..
Chile
Colombia
Other South America
Aden
Empire
Philippine Islands
Other Asia and Oceania
Other countries.
Total yards of above
Total values of above
Value per yard
Value
of
Other
23,261,306 27,375,569 250,470,960 >344,495,69
$1,609,369 $1,695,486 $16,918,791 $20,613,65
$.0692
$.0619
$.0676
$.060
Manufactures
c
14—Rosefleld, 9,846
50
11,752
-
9,846
*
of
Knit goods
All other
Total
i
Waste, cotton
Yam
All other
..
..
$95,445
360,488
$94,655
408,589
$1,179,336
4,063,543
$760,188
3,366,434
$455,933
294,991
55,306
421,957
$503,244
260,897
34,159
355,721
$5,242,879
2,933.666
487,004
3,818,173
$4,126,622
1,706,536
388,375
2,978,304
$2,837,556 $2,849,507 $29,400,513 $29,813,496
LIVERPOOL.—By cable from Liverpool we have the following statement of the week’s sales, stocks, &c., at that port:
Nov. 25.
Sales of the week
bales. 45,000
Of which speculators took..
2,000
Of which exporters took....
2,000
Sales, American
Actual export.
39,000
4,000
124,000
658,000
559,000
212,000
176,000
Forwarded
Total stock—Estimated
Of which American..
Total imports of the week
Of whfch American
Amount afloat
Of which American
The tone of the
each
day of the
Market,
1
)
J
12:15
P. M.
Mid.
Upl’ds
Sales
Futures.
Market
1
as
1,000
1,000
42,000
•,000
104.000
639,000
551,000
110,000
Dec. 9.
Dec. 16.
61,000
1.000
2,000
51,000
“3,000
2,000
45,000
11,000
106,000
761,000
650,000
172,000
135,000
610,000
519,000
53,000
3,000
80,000
706,000
603,000
149.000
115,000
576,000
456,000
87,000
504,000
412.000
follows:
Saturday.
Monday.
Tuesday.
Dull.
Good
demand.
Good
demand.
*
'
Wednesday.
Fair
business
doing.
Thursday.
Friday.
Good
demand.
Moderate
demand.
8 10
8.05
8.08
8.09
8 13
8.11
5,000
12,000
8,000
8,000
300
7,000
1,000
500
500
15,000
3,000
Easy at
Barely sty.
2@4 pts.
unch.to
3 pts. dec.
opened
\
decline.
Market,
1
1
J
Quiet at
l@4 pts.
4
P. M.
2.
47.000
Liverpool market for spots and futures
spot cotton have been
Spot.
448,000
361,000
Dec.
past week and the daily closing prices of
Quiet at
decline.
Steady at
1@2 pts.
Steady at
2@3 pts.
Steady at
2@4 pts.
advance.
advance.
advance.
decline.
Easy at 2 H
Steady at
6@8 pts.
3 pts. adv
advance.
,
]
500
Steady at
3@4 pts.
3@3X Pts. pts. dec. to
decline.
Quiet at Barely sty.
at 1@3
1X@4 pts.
advance.
pts. dec.
The
below.
prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
iDec. 10
Sat.
Mon.
tA
Dec. 16.
Mch.-Apr.
Jurie-July
Aug.-Sep.
Sep .-Oct.
Oct.-Nov
12 X
p.m.
12 X
p.m.
7
7
7
7
7
7
7
7
7
7
7
7
Tues.
Thus, 7 89
Wed.
means
7 89-100d.
Thurs.
Fri.
12 X
4
12 H
4
4
12 X
12 X
4
4
12H
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
89
85 X 86
88
84
85
66 X 84 H 85**
90
86
87
92
88
88 **
93
89
89 **
94
90
90 X
92 X 88 X 89
90
86
87
68
63 X 65
27
23 X 24
07
03 X 04
88
83 ** 89 X
87 H 83
89'
84
88
69 X
89** 85** 91
91
87
93
92 J* 88
94
93
89
95
93 X
91 ** 87
89
85 ** 91
67
65** 70
26 X 31
26
06
07
11
91
93
92 X
90
93
92
91
94
93
93
95 X 94 X
94 X 97 X 96 X
95 X 98 X 97 X
96 X 99
96 X
95
97 H 97
93
96
95 X
72
74 X 74 X
34
35** 37**
13
14X17
91 X 89 X
91
69
92
90
93 X 91 X
95
93 X
96
94 X
97
95
96
94
94
93
73
72 X
36
36 X
15
15
BREADSTUFFS.
2,632
9,337
1,739,167
1,343,702
1,940,522
9,348.278
7,429,375
22,160,439 25,283,493
1,511,548
1,459,541
10,130,804 18.985,419
30,813,614 38,918,367
8,578,010
7,750,175
13,724,120 13,569,293
12,808,237 17,191,199
8,977,005 17,745,670
61,192.893 148,281,274
7.402,626
8,998,263
6,246,909
6,237,16G
45,097,361 14,208,806
2,422,398
2,427,627
8,713,016 14,069,501
Wearing apparel—
July-Aug.
8,000
189,230
762,974
2,459,130
117,005
1,595,635
4,432,917
718,996
1,667,842
1,766,206
953,250
4,042,308
1,037,664
463,465
5,230.710
199,070
Cotton Exported.
Apr .-May.
May-June
8,046
66,182
663,990
3,246,326
169,747
1,505,598
4,754,367
l',316,558
1.279,273
1,725,157
986,000
951,800
891,600
749,692
3,774,232
252,066
928,718
British East Indies
British Oceania
14,114
13,262
6,592
83,140
1.307
4,663
8,251
250
8
year
Quantities of Manufactures of Cotton Month ending Oct. 31. 10 Mos. ending Oct. 31.
(colored and uncolored)
Exported to—
1910.
1909.
1910.
1909.
11,217
1.200
150
100
7,400
3,405
8,634
7,681
Gothenburg—Deo. 18—Malinohe, 150
Uddevalle—Dec. 13—Malinohe, 100..
Barcelona—Dec. 15—Monginevro, 7,400
15—Monginevro, 3,405
BRUNSWICK—To Liverpool—Deo. 10—Ormldale, 8,634
To
.
figures for the corresponding periods of the previous
are also presented.
December
Dec.-Jan.
Jan .-Feb.
Feb.-Mch.
—
300
2,355
8,697
3,860
.356,425
Spec.&exp.
Total bales.
354
798
DOMESTIC EXPORTS OF COTTON MANUFACTURES
—We give below a statement showing the exports of domestic
cotton manufactures for October and for the ten months
ended Oct. 31 1910, and for purposes of comparison like
1909.
'Weekly Consumption,
In October
In November
Total
Total manufactures of
October 1 to December 1.
Bales of 500 lbs. each.
Total bales.
12—
9,770
5,144___Deo.
BALTIMORE—To Havre—Dec. 12—Philadelphian, 199 upland,
155 Sea Island
To Hamburg—Dec. 9—Bosnia, 798.
PHILADELPHIA—To Liverpool—Dec. 9—Haverford, 300
To Manchester—Dec. 9—Manchester Commerce, 2,355
SAN FRANCISCO—To Japan—Dec. 13—Manchuria, 8,697
SEATTLE—To Japan—Deo. 14—Chicago Maru, 3,860
Chinese
728,000
For 1909.
1653
Friday, Dec. 16 1910.
changes during the
week, though the tone of the market here of late has been
Prices for wheat flour have shown few
somewhat firmer.
Consumers have continued to
purchase
only sufficient to meet immediate needs, but there is an im¬
pression among some that an expansion in business in the
not distant future is likely to be witnessed, as stocks in the
hands of dealers are believed to be small.
Trade at the West
and various parts of the Southwest, as well as the Northwest,
has continued quiet.
Rye flour has been quiet and some¬
what firmer.
Corn meal has been quiet and steady.
1654
THE CHRONICLE
Wheat has on the whole shown steadiness,
marked net changes have occurred in prices.
though no
Sustaining
[VOL,
LXXXXI
GRAIN.
Wheat, per bushel—
N. Spring, No. 1
N. Spring, No. 2
Corn,
bushel—
per
Cents.
51 17%
No. 2 new
f.o.b.
54
factors, however, have been the firmness of the cash mar¬
1 14%
No. 2 mixed
f.o.b.
Nominal
kets in the Southwest, where dry weather is complained
Red winter, No. 2
No. 2 white
97%
f.o.b.
Nominal
Hard winter. No. 2
1 01% Rye, per bushel—
of and from which some unfavorable
crop reports have been Oats, per bushel, new—
Cents.
No. 2 Western
83%
received.
Some damage from Hessian fly is reported in
Standards
38 %
State and Pennsylvania
81 @82
No. 2 white
39
90 @94
Barley—Malting
parts of Illinois. European markets, too, have been on the
No. 3 white
38
Feeding, cJ.f., N. Y._
Nominal
whole pretty firm.
It is evident that a considerable short
The statements of the movement of breadstuffs to market
interest still exists in the American markets, and that there
is less aggressiveness than last summer and autumn in trading indicated below are prepared by us from figures collected by
on the short side.
Yet there are bearish factors, including the New York Produce Exchange.
The receipts at Western
beneficial rains in Texas, dulness of the milling demand in lake and river ports for the week ending last Saturday and
most parts of the country, the absence of export business since August 1 for each of the last three years has been:
and the expectation that Argentina will before long begin
Wheat.
Corn.
Oats.
to export the new crop to Europe.
Barley.
Rye.
Also the flour trade has Receipts at— Flour.
been dull, Argentina’s actual shipments last week were
bbls.l96lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushAWbs. 5m.56 lbs.
Chicago
more than double those for the same week last
117,582
148,900
2.621.700
2,068,400
733,500
35,000
year, and stocks Milwaukee..
41,720
100,570
274,380
368,600
397.800
42,840
at Minneapolis have continued to increase, gaining half a
Duluth
13,840
780,386
55,472
195,040
million bushels in five days.
Minneapolis.
2,247.870
524.770
439,900
401.840
46,060
Foreign crop advices are in Toledo
27,000
121,800
51,000
the main cheerful and world’s stocks continue to be large Detroit
4,670
109.765
52,321
32,112
Cleveland
1,193
11x444
enough to constitute one of the principal items in the bears’ St. Louis...
126,818
124,246
56,070
274,460
462,025
338,300
145,600
12,100
arguments. Speculation has been quiet and any rally in Peoria
49,600
75,000
432,312
159,432
99,600
2,200
prices has been attributable more to covering of shorts than Kansas City.
460,800
255.600
96,800
to new buying for long account.
In fact, the impression Total wk. '10 284,665 4,176,195 4,871,726 3,784,262
1,973,380
138,200
continues to be well nigh universal that 1911 is to see lower Same wk. ’09
324,920
2,807,106
3.665,603
1,891,632 1,138,018
80,747
Same wk. ’08
309,488
3.963,670
4,671,660
2,480,477 1.492.749
114,765
prices in the world’s wheat markets through the operation
of the law of supply and demand.
It is evident, too, that Since Aug. 1
1910
6,974,208 127,789,665 67,331,942 89.450.129 34.294.150
Europe continues to be comparatively independent of Amer¬
2,826,082
1909
9,189,653146.842.467 58,481.688 77,838,515;40,151,877 3,802,589
ica in the matter of its wheat supplies.
1908
Still, during the last
46,834,307 77,433,690,45,813,886 3,702,749
9,295,090!145,150,243
few months there has been a material decline in prices, and
if there is no disposition to take the aggressive on the
Total receipts of flour and grain at the seaboard
long
ports for
side, it is no less true, as already intimated, that bears are the week ended Dec. 10 1910 follow:
disposed to proceed more cautiously, evidently awaiting
Flour,
Wheat,
Com,
Oats,
Barley,
Rye,
further light on the general situation,
Receipts at—
bbls.
bush.
bush.
bush.
bush.
bush.
particularly as the New
York
147,534
168,000
347,625
315,675
short account is still believed to be of large proportions and Boston
1,275
3,450
44,973
48,215
52,820
69,731
1,939
there is at least a possibility that any bearish features of the Portland, Me
13,214
174,000
68,596
85,748
73,767
situation have been, for the time being at any rate, sufficiently Philadelphia
139,110
800
Baltimore
49,639
49.070
287,146
44.281
4,714
18,327
discounted.
However this may be, the trading, both legiti¬ Richmond
3,393
14,242
31.950
35,750
3,938
New Orleans*..._
23.489
mate and speculative, is so sluggish as to indicate a
233,700
67.500
waiting Galveston..
40,000
attitude on the part of the world’s wheat markets.
3,250
To-day Mobile
2,514
10.284
3,444
1.418
219,631
20,881
prices were easier on dulness on the spot, increased Argentina Montreal
St. John
14,000
260,000
shipments, smaller exports from this country and liquidation.
---
...
...
....
,
_
_
DAILY CLOSING PRICES OF WHEAT
FUTURES IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter.
97 %
97 %
97%
98 %
98%
97 %
December delivery in elevator.___ 96 %
96%
96 %
97%
97%
97 %
May delivery in elevator
102
102
102
102% 102% 102 %
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
December delivery in elevator
90 %
91
91%
92% 92% 91%
May delivery in elevator
95 %
95 %
95 %
96 % 96 %
95 %
July delivery in elevator
92%
93
93
93% 93%
93 %
Total week 1910.
378,372
842,719 1,030.940
891,678
78,809
Since Jan. 1 1910.17,225,238 73.465.285 38,339,273
48.466.549 3827,588
Week 1909
422,700 2,964,703
1,729,192
788.118
90,704
Since Jan. 1 1909.16,633,855 94,917,144 40,251.189
26.215
916,873
16,655
42,935.075 7145.935 1096,824
*
on
Receipts do not include grain passing through New Orleans for foreign ports
through bills of lading.
The exports from the several seaboard ports for the week
are shown in the annexed statement:
ending Dec. 10 1910
Indian corn futures here have been stagnant.
At the
West the trading has been moderately active.
The general
trend of prices has been upward, owing mainly to decreased
• des by the country, the smallness of contract stocks at
Chicago, some advance in cash quotations, commission-house
buying and covering of shorts. The principal selling has
been on hedges.
Argentine news has been bearish, the indi¬
cations pointing to a considerable increase in the next acre¬
age.
The U. S. Government stated the yield for 1910 at
3,125,713,000 bushels, against 2,772,376,000 in 1909. To¬
day prices declined on favorable weather for moving the crop,
selling by cash interests and liquidation.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW
YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
Cash corn
55%
55
54
53
54%
54
December delivery in elevator.
54 %
54
55
55%
May*delivery in elevator
56 %
55 %
55 %
55 %
56
55 %
DAILY CLOSING PRICES OF CORN FUTURES IN
CHICAGO.
Sat.
December delivery in elevator.... 45%
May delivery in elevator
47%
July delivery in elevator
48%
Mon.
45%
47%
47%
Tues.
45
47
47%
OF
Sat.
39
39 %
Standards
No. 2 white
OATS IN
Sat.
May delivery in elevator
July delivery in elevator
The
following
are
*
Winter, low grades
Winter patents
Winter straights
Winter clears
Spring patents
Spring straights
Spring clears
31%
34 %
34
Rye,
bush.
305,775
174,000
130,392
4,000
252,000
139,479
73,340
13,214
36,600
42.000
28,460
12,429
bush.
600
Portland, Me....
Boston
Philadelphia
Baltimore
New Orleans
Newport News
”3',666
Galveston.
Mobile
St. John, N. B__
Total week
Week 1909
138,142
35,786
1,129,167
2,503,742
NEW YORK.
Tues.
38%
39
38%
38%
38%
38 %
38 %
38 %
Wed. Thurs. Fri.
38%
39
FUTURES IN CHICAGO.
Mon. Tues. Wed. Thurs. Fri.
31%
31% 31%
31%
31%
33 %
34
34 %
34 %
34 %
33 %
33 %
34 %
34 %
34
.
.
.
85
40
80
60
25
85
”l66
_____
Week
July 1
11,119
Exports for week and Dec. 10.
1910.
bbls.
Since
Week
Dec. 10.
bush.
1,670
2,652
Since
July 1
Week
Dec. 10.
bush.
1910.
bush.
580,957 16,997.997
540,927 10,759,351
4,283
126.675
3,000
3,000
...
...
_
271.825
7,126
36,970
_
7,000
...
...227,293 4,032,949 1,129,167 27.894,023
...228.639 4,679,400 2,503.742 46.826,076
315,921
790,783
July 1
1910.
bush.
2.497,100
3,270,173
1.483.282
664,918
7.224
14,273
7,936,970
5,170,906
The world’s
shipments of wheat and corn for the week
ending Dec. 10 1910 and since July 1 1910 and 1909 are
shown in the following:
Wheat.
Exports.
1910.
Week
Dec. 10.
Corn.
1909.
Since
Since
July 1.
July 1.
1910.
Week
10.
Dec
Bushels. I Bushels.
Bushels.
Bushels.
North Amer. 3,568,000' 56,675,000 75,409,000
260,000
Russia
5,872,000 118,872,000 114,488,000
825,000
Danube
2,016,000 57,544,000 10,472,000
884,000
504.000
22.744,000 13,768,000 4,395.000
Argentina
Australia
328,000 15,264,000
4,980,000
India
680,000 23.744,000 124,720,000 J
Oth. countr’s
\
232,000, 4,414,000 /
Total
Since
July 1.
Bushels.
Bushels.
13200000 299,257,000 243,837,000 6,364.000 105,013,000
75,f9f .000
of wheat and
as
corn
follows:
Bushels.
dates
United
Continent. ft.
Bushels.
Total.
Bushels.
.
16.480.000
on
Corn.
Dec. 10 1910.. 15,152,000 20,752,000 35,904,000
Dec. 3 1910.. 16,240.000 22,528,000 38,768,000
Dec. 11 1909-- 15,520,000 11.6)0,000 27.120,000
Dec. 12 1908.
15,920,000 8.560.000 24,480,000
..
5,242,000
afloat for Europe
Wheat.
M
Since
July 1.
7,728,000
9,170,000
53.657,000
The quantity
mentioned was
Dec.il4 1907
1909.
7,628,000
4,445,000
48,786,000
44,134,000
United
_
:
2,720
32,411
Since
.
FLOUR.
-
--
’2:666
The destinLation of these exports for the week and since
is as below:
Kingdom.
Kansas straights, sack .54 flOtf& *4
Kansas clears, sacks.4 00$ b 4
6 00<«b 6
City patents
Rye flour
85$b 4
Graham flour
4 15(j * 4
Corn meal, kiln dried..
2 75$ i 2
1,570
July 1 1910
closing quotations:
12 75® $3 40
4 80® 500
4 85® 4 60
3 75® 4 00
5 25® 5 55
4 80® 500
4 25® 4 35
bush.
120
315,921 227,293
790.783 228,639
Total
Total 1909.
Mon.
Peas,
bush.
11.119
3,250
14,000
45%
47%
48%
48%
Barley,
T.666
2,514
266:666
Fri.
46
47%
DAILY CLOSING PRICES OF OATS
December delivery in elevator
Oats,
bbls.
45%
47%
48%
covering of shorts. Cash interests have sold. The stock of
contract grade at Chicago is heavy and larger arrivals are
expected in the near future. The Government stated the
yield for 1910 at 1,126,765,000 bushels, against 1,007,353,000
in 1909.
To-day prices declined on heaviness in wheat and
corn and hedge selling.
PRICES
Flour,
bush.
Wed. Thurs.
been upward with corn.
Selling by the country has decreased
somewhat of late and cash prices have been
strengthened,
though the spot demand has been light. Commission houses
have purchased moderately, and there has been scattered
CLOSING
Com,
bush.
since July 1 to—
bbls.
United Kingdom....111,811 1,979,046
Continent
65,089
891,134
Sou. & Cent. Amer. 17,686
492.470
West Indies
31,250
548,360
Brit. Nor. Am. Cols.
100
57.026
Other Countries..
1,357
64,913
Oats for future delivery in the Western market have
varied only slightly, but the general drift of the market has
DAILY
Wheat,
Exports from—
New York
9.440.000 25.620,000
Kingdom.
Continent.
Total.
Bushels.
Bushels,
Bushels.
6,732.000 13,303,000 20,035,000
6,588.000 13.676.000 20.264.000
4,080,000 6.460.000 10.540.000
5.780.000 5,355,000 11.1*5.000
3.920,000 4,680.000 8.600,000
.a
•'*?>'•
U
THE CHRONICLE
Dec. 17 1910.1
The
visible
supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Dec. 10 1910, was as follows:
GRAIN
AMERICAN
New York
-
Boston
.
Philadelphia
.
Baltimore
New Orleans
_
“
bush.
bush.
bush.
bush.
953,000
20,000
37,000
38,000
9,000
213,000
226,000
3,000
40,000
2,000
64,000
140,000
131,000
81,000
14,000
194,000
48.000
172,000
910,000
311,000
286,000
133,000
5,817,000
469,000
822,000
2,965,000
332,000
202,000
1,609,000
67,000
1,510,000
1,545,000
5,663,000
4,542,000
15,349.000
15,758,000
12,228,000
9,188,000
471,000
507,000
923,000
1,113,000
1,744,000
1,849,000
3,631,000
6,111.000
Barley,
_
^
.
.
Milwaukee
-
42.000
202,000
61,000
32,000
.
Minneapolis
St. Louis
Kansas City
Peoria
_
—
.
Indianapolis..
.
Dec. 10 1910- .42,666,000
Dec. 3 1910. .42,990,000
Dec. 11 1909- -28,400,000
Dec. 12 1908- .51,388,000
25,000
290,000
117,000
.
Chicago
Barley,
135.000
3,373,000
5,525,000
1,486,000
430,000
5,904,000
137,000
2,054,000
.12,069,000
2,139,000
4,150.000
11,000
512,000
afloat
Rye,
bush.
.
Toledo
Detroit
Oats,
2,727,000
288,000
625,000
510,000
632,000
3,000
91,000
Buffalo
STOCKS.
Corn,
Wheat,
Total
Total
Total
Total
6,000
16,000
12,000
20,000
6,000
113,000
5,000
2,000
510,000
510,000
114,000
334,000
183,000
•
29,000
2,000
CANADIAN GRAIN STOCKS.
Wheat,
Corn,»
Oats,
Rye,
bush.
bush.
bush.
bush.
283,000
3.213.000
1,888,000
4,968,000
13,000
1,398,000
81,000
Dec. 10 1910- .16,352,000
Dec. 3 1910- .10,219,000
Dec. 11 1909- .10,084.000
Dec. 12 19083,744,000
13,000
20,000
40,000
25,000
1,398,000
1,453,000
592,000
226,000
81,000
88,000
150,000
78,000
Montreal
.
Fort. William
.
Port, Arthur
Other
-
Canadian
Total
Total
Total
Total
_
-
-
bush.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
10
3
11
12
14
15
16
Com,
Oats,
Rye,
Barley,
bush.
bush.
bush.
bush.
bush.
.42,666,000
.10,352,000
1,510,000
13,000
15,349,000
1.398,000
471,000
1,744,000
81,000
1910.-53,018,000
1910.-53,209,000
1909.-38.484,000
1908.-55,132,000
1907.-45.468,000
1906.-43,245,000
1905.-38.835,000
1,523,000
1,565,000
5,703,000
4,567,000
2,762,000
4.421,000
8,739,000
16,747,000
17,211,000
12,820,000
9,414,000
7,259,000
12,241,000
27.756,000
471,000
507,000
923,000
1,113,000
868,000
1,586,000
2.311.000
1.825,000
1,937,000
3,781,000
6,189,000
5,830,000
4,193,000
6,334,000
American
Canadian
THE DRY GOODS TRADE.
New
Cotton
York, Friday Night, Dec. 16 1910.
goods market showed practically no change during
the week in the volume
or
character of business done.
provement in demand, which
some
Im¬
interests expected would
follow the Government's final estimate of the cotton
crop,
failed to materialize; from which it is reasonably inferred
that this
was
not the
only factor
or
uncertainty that induced
conservatism among buyers; trading continued quiet and
of moderate proportions in the aggregate, orders in most
being confined to small lots to meet urgent needs.
disposition to anticipate requirements was noted in
any quarter.
Jobbers displayed little interest in additional
goods, and although their stocks are apparently in need of
replenishing, they are not expected to purchase staples to any
extent until stock-taking is completed, or until after the
turn of the year.
From the foregoing it should not be in¬
ferred that business for forward delivery is at a complete
standstill, for certain lines of domestics are being taken in a
conservative way for shipment in the early
part of 1911,
mainly to insure deliveries of particular brands that buyers
want; the demand, however, has been by no means active or
broad, and such transactions formed a relatively small part
of the week’s total.
While here and there slight concessions
are reported on some lines of cottons for
spot delivery,, other
lines are strongly held, and first hands
generally are decidedly
firm on contracts, especially for goods to be made.
Need¬
less to say, the continued firmness of raw material and the
fact that current prices for goods made from
high-cost staple
afford little, if any, profit to the mills is responsible for the
firmness of selling agents.
It is noteworthy that some con¬
tract business on drills,
sheetings, print cloths and certain
other lines offered on the basis of spot prices
was declined
during the week. A few buyers have shown interest in
cottons for the next fall season,
notably napped goods, to
the extent of sounding the market to learn what values are
likely to prevail. Sellers, however, hesitate to name definite
prices for distant deliveries. In the primary market there
is a
growing belief that there will be a pronounced curtail¬
ment of production by mills after the turn of the
year, unless
there is a material
improvement in demand at prices that
will afford reasonable profits
to manufacturers. Holiday
trade in textiles was
seasonably active and the volume of
cases
Little
business satisfactory to most interests.
Improvement in
demand for desirable silk piece goods and ribbons was well
maintained, and prices displayed
a
hardening tendency,
while there was a somewhat better call for fall underwear
and hosiery.
More interest was taken in dress goods for
next spring and fall.
In the men’s wear market preliminary
showings of overcoatings attracted
for fall
are
openings. 1
attention and fair orders
said to have been placed
in advance of the formal
DOMESTIC COTTON GOODS.—The
exports of cotton
goods from this port for the week ending Dec. 10
packages, valued at $405,502.
New York to Dec. 10—
Great Britain—
Other European
China
India
Arabia.
Africa
West Indies._
Mexico
Central America
South Aonerica
Other countries
_
were
5,229
-1910Since
Week.
Jan.1.
13
1,824
43
952
910
59,395
388
14,634
500
14,248
14
6,590
...
_
1,500
...
52
328
994
487
31,947
1,929
13,281
49,096
46,914
5,229
240,810
.
Total
-1909Since
Week.
Jan. 1.
164
1,981
801
1,078
169,644
16,524
25,370
15,497
38,669
1,674
13,394
52,064
22,476
3,476
358,371
250
63
657
39
186
1,316
The value of these New York
exports since Jan. 1 has been
$17,135,204 in 1910, against $19,724,903 in 1909.
Ticketed bleached goods were firmly held, with little dis¬
position to sell ahead at current prices. Staple prints con¬
tinued to move steadily on old orders, but new business was
moderate and confined largely
to cheap semi-fancies.
Denims ruled steady; a fairly good demand came forward
for the better qualities, but lower grades dragged.
Tick¬
ings were firm and reported as rather scarce. Certain col¬
ored cottons were somewhat more active, being ordered
moderately for forward shipment to insure deliveries. In¬
terest in napped cottons for the next fall season is increas¬
ing, but business is restricted, pending definite price an¬
nouncements.
Export trade with China and miscellaneous
ports remained quiet. Print cloths and convertibles dis¬
played little life, only a moderate amount of business being
done; standard graygoods, 383^-inch, quotably unchanged.
WOOLEN GOODS.—Additional lines of cheap overcoat¬
ings and men’s wear suitings for fall 1911 were opened
but not much business
SUMMARY.
Wheat,
Total
Total
Total
Total
Total
Total
Total
1655
booked.
was
Well-known lines of
higher-priced overcoatings have been shown quietly in ad¬
vance of the formal openings, and a fair amount of business
has already been received; although not openly named,
prices on some lines, at least, are said to show a moderate
revision downward.
In fancy woolen overcoatings for the
next fall season, Scotch effects are expected to figure promi¬
nently. In some quarters the lower tendency in overcoat¬
ings is taken as presaging a similar development in heavy¬
weight suitings. Light-weight suitings continued quiet and
featureless, aside from an advance of 5c. a yard on another
line of fancy worsteds on additional orders for spring de¬
livery.
FOREIGN DRY GOODS.—A slightly better demand is
noted in some quarters for imported woolens and worsteds
for forward delivery.
Silks and ribbons continued quite
active and firm.
housekeeping lines,
Most of the business in linens was on
a steady demand b ing in evidence from
retailers for their special January sales; sellers:’ stocks are
badly broken and complaints of delayed deliveries of de¬
sirable goods are numerous.
Burlaps were quiet, with an
easier tone on lightweights, resulting from efforts to clean
up stocks at the year end; lightweights are quoted at about
3.75c. and 103^-ounce at 4.85c.
Importations and Warehouse Withdrawals of Dry Goods.
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1656
11335899..AAldliraiancncee,.,
THE CHRONICLE
State akd Oity DEwnvrm.
[VOL.
IOND SALES.
Page.
Name.
ate.
Mich
Ohio (2 issues)
4
4
5
5
4
4
Ohio
4H
1274__Allegheny County, Pa.
CENSUS FIGURES OF POPULATION.
The Bureau of the Census on Saturday, Dec. 10, an¬
nounced the total population of the United States for 1910.
Including Alaska, Hawaii and Porto Rico, the total popula¬
tion of the United States is 93,402,151, an increase of 16,-
145,521,or 20.9%,over 1900. The increase in the previous
decade was 14,276,864, or 22.7%.
Continental United
States, consisting of the forty-six States, the Territories of
Arizona and New Mexico and the District of Columbia, has
a population of 91,972,266, an increase of
15,977,691, or
21%, over 1900. From 1890 to 1900 the increase was 13,046,861, or 20.7%. The following table shows (1) the total
population of the United States for 1910, in comparison
with the totals for 1900 and 1890; (2) the percentage and
rate of increase for each decade.
It will be observed that the figures for 1890
given below
somewhat larger
for comparative
purposes in the current preliminary State announcements
relative to the Thirteenth Census results.
In explanation
of this discrepancy it should be stated that the
preliminary
announcements mentioned did not contain the figures
for
the Indians and other persons specially enumerated in 1890.
These are, however, included in the figures for 1890 herein,
which represents the correct total population of the States
are, in the case of a number of States,
than the totals for the same States given
and the United States.
THE
UNITED
STATES
TOTAL POPULATION
COMPARATIVE
SUMMARY FOR 1910, 1900 AND 1890.
Increase.
STATES.
1910.
1900.
1890.
1900 to 1910.
1890 to 1900.
Number.
Number.
P. c.
P. C.
United
States,
(lncl. of Alaska, Hawaii &
Porto Rico). 93.402,151 *77,256,630 62,979,766 16,145,521 20.9 14,276.864 22.7
Contln’tal U. S. 91.972,266 75,994,575 62,947.714 15,977,691
Alabama
2,138,093
204,354
Arkansas
1,574,449
California
2,377,549
Colorado
799,024
Connecticut
1,114,756
Delaware
202,322
Dist. Columbia.
331,069
Florida
751,139
Georgia
2,609,121
Idaho
325,594
Illinois
5,638,591
Indiana
2.700.876
Iowa
2,224,771
Kansas
1,690,949
Kentucky
2,289,905
Louisiana
1,656.388
Maine
742,371
Maryland ..L.. 1.295,346
Massachusetts
3,366,416
Michigan
2,810,173
Minnesota
2,075,708
....
.
1,797,114
Mississippi
Missouri
3,293,335
Montana
376,053
Nebraska
1.192,214
Nevada
81,875
New Hampshire
430,572
New Jersey-... 2,537.167
New Mexico.-.
327.301
New York
9,113,279
North Carolina 2,206.287
North Dakota.
577,056
Ohio
4,767,121
Oklahoma
1,657,155
Oregon
672,765
7,665,111
Rhode Island..
542,610
South Carolina. 1,515,400
South Dakota..
583,888
Tennessee
2,184,789
Texas
3,896,542
Utah
373,351
Vermont
355,956
2.061.612
Virginia
Washington
1,141,990
West Virginia.. 1,221,119
Wisconsin
2,333,860
Wyoming
145,965
Alaska
64,356
Hawaii
191,906
Porto Rico
1,118,012
Milit’y & naval
55,608
Pennsylvania
- -
....
....
1,828,697
122,931
1,311,564
1,485,053
539,700
908,420
184,735
278,718
528,542
2,216,331
161,772
4,821,550
2,516,462
2,231,853
1,470,495
2,147,174
1,381,625
694,466
1,188,044
2,805,346
2.420,982
1.751,394
1,551.270
3,106,665
243.329
1,066,300
42,335
411.588
1,883,669
195,310
7,268,894
1,893,810
319,146
4,157,545
790,391
413,536
6,302,115
428,556
1,340,316
401,570
2,020,616
3,048,710
276,749
343,641
1,854,184
518,103
958,800
2,069,042
92,531
63,592
154,001
a953,243
91,219
1,513,401
88,243
1,128,211
1,213,398
413.249
746.258
168,493
230.392
391,422
1,837,353
88,548
3,826,362
2,192,404
1.912,297
1,428.108
1,858,635
1,118.588
661,086
1,042,390
2,238,947
2,093,890
1,310,283
1.289,600
2,679,185
142.924
1,062,656
47,355
376,530
1,444,933
160,282
6,003,174
1,617,949
190,983
3,672,329
258,657
317,704
5,258,113
345,506
1,151,149
348,600
1,767,518
2,235,527
210,779
332,422
1.655,980
357,232
762.794
1,693,330
62,555
32,052
21.0 13.046.861
20.7
309,396 16.9
315,296 20.8
81,423 66 2
34 688 39 3
262,885 20.0
183,353 16.3
892,496 60.1
271,655 22.4
259,324 48.0
126,451 30.6
206.336 22.7
162,162 21.7
9.5
17.587
9.6
16.242
52,351 18.8
48,326 21.0
42.1
222,597
137,120 35.0
392,790 17.7
378,978 20.6
163,822 101.3
73,224 82.7
817.041 16.9
995,198 26.0
7.3
184,414
324,058 14.8
*7,082 *0.3
319,556 16.7
220,454 15.0
42,387
3.0
6.6
142,731
288,539 15.5
274,763 19.9
23.5
263,037
6.9
47,905
5.0
33,380
9.0
107,302
145,654 14.0
561,070 20.0
566.399 25.3
389,191 16.1
327,092 15.6
18.5
324,314
441,111 33.7
245,844 15.8
261,670 20.3
6.0
186,670
427.480 16.0
132,724 54.5
100,405 70.3
125,914 11.8
3,644
0.3
39.540 93.4
*5,020 *10.6
4.6
18,984
9.3
35.058
653,498 34.7
438,736 30.4
131,991 67.5
35,028 21.9
1,844,385 25.4 1,265,720 21.1
312,477 16.5
275,861 17.1
257.910 80.8
128,163 67.1
609,576 14.7
485,216 13.2
866.764 109.7
531,734 205.6
259,229 62.7
95,832 30.2
1,362,996 21.6 1,044.002 19.9
114,054 26.6
83,050 24.0
175,084] 13.1
189,167 16.4
182,318 45.4
52,970 15.2
8.1
164,173
253,098 14.3
847,832; 27.8
813,183 36.4
96,6021 34.9
65,970 31.3
12,315 i 3.6
11 219
34
207,428 11.2
198,204 12.0
623,887120.4
160,871 45.0
262,319 27.4
196.006 25.7
264,818 12.7
375,712 22.2
57.7
53,434
29,976 47.9
76^
1.2
31,540 98.4
37,908 24.6
.
Ohio (4 Issues)
1339..Alliance, Ohio (2 issues)
1339..Alliance, Ohio
135927.CDurowathslenyg,
1526.
1526.
1342. ..Ashland, Mai
1399. ..Athens, Ohlc
1399...Atlanta, Ga.
1275.
1659.
1399.
4
4
4
5
4H
4
6
Includes 953,243 persons In Porto Rico (1899 Census).
Decrease.
a According to the Census of Porto Rico taken In 1899 under
the direction of
the War Department.
MUNICIPAL BOND SALES IN NOVEMBER.
We present herewith our detailed list of the
municipal
bond issues put out during the month of
November, which
the crowded condition of our columns prevented our
ing at the usual time.
publish¬
The review of the month’s sales was given on
page 1585 of
the “Chronicle” of Dec. 10.
Since then several belated
November returns have been received, changing the total for
‘the month to
$24,625,551. The number of municipalities
issuing bonds was 208 and the number of separate issues 295.
Amount.
$30,000
750,000
1940
1911-1915
1911-1913
1919
1921
1920
1913-1925
1912-1918
1915-1939
1911-1920
1926-1935
1929-1940
1980
1980
Price.
100
100.015
43,858'
5 091
2,900
9,700
5,000
39,000
14,000)
50,000
5,450
103.115
104.299
100
500,000
103.029
24,000
107.03
40,000 108.4625
1,000,000
85.50
1,603,400
6,500
102.246
5
1915
2,000
100
1659. -Binghamton, N. Y
1920-1924
4K
50,000
101.53
1342.
5
£1925-1950
10,000
1526. .Boston, Mass
4
1911-1929
37,000 *100
1466. .Bowling Green, Ohio (2 Issues) 4
£1911-1915
5,300
100
1399. .Bristol, Va
5
60.000
101.50
1585.
4.40
al916
11,500
100.336
1585.
4.40
al921
6,500
100.258
1585.
4.40
al914
1,200
100.083
1399.
4)4 1920&1930
100
150,000
1466. .Burlington Sch. Dist., Iowa.. 4
1920
100
9,000
1466.
6
£1920-1930
6,000
1466.
5
1912-1922
10,000 1/101
1585. .Carbon Co. S. D. No. 23, Mont. 6
£1915-1920
100
1,000
1342. -Casper, Wyo (3 Issues)
5
1930
100
90,000
1466. .Charles City Ind. S. D., Iowa. 4
191:0
Vi
25,000
1585.
6
1935
100
40,000
1526.
4 H
1914-1918
9.000
100.50
1586.
5
£1920-1950
4,000
1526.
6
£1920-1930
10,000 1/105.76
1342.
6
1913-1919
35,782
102.64
1466.
4
1940
600,000
100.14
1342.
4.10
1940
250,000
1342.
4
1940
400,000
1399.
5
100
20,000
1399.
5 H
18,000
1526. .Coitsville Twp. Sch. Dist., Ohio 6
1915
6.000
107.033
1399. -Colorado
3
1929
82,300
100
1399. .Colorado City Sch. Dist., Colo. 5
£1920-1930
45,000
1276. .Columbia, Mo
4)4 1916,’20&’25 125,000
100.024
1586. .Connellsvllle Twp. S." D., Pa_. 5
1911-1914
12,000
104.166
1586.
6
1930
30,000
100
1586.
1921
4H
20,000
100.87
1527. _Crawford, Ga.
6
1912-1930
5,000 1/100
1467.
4
48,000
101.62
1343...Crockett County Com. Sch.
Dist. No. 1, Te
5
£1915-1950
5,000
100
La
5
75,000
Falls, (
5
1911-1915
8;200 103.67
Tex
4 X
1950
350.000
100
Tex. (3 Is
4
1911-1950
300,000
96.65
County, A
5
100,000
104.50
Ohio (9 i
5
70,000
1660-.De Soto Sch. Dis
£1920-1930
5,000
100
1527. .Duluth, Minn
4
1940
50.000
100
1527.
6
1935
101
25,000
1586.
5)4
27.200
101.838
1400. .Elmore Co. S. D. No. 11, Ida- 5
1920
100
14,000
1467. .El Paso Co. S. D. No 1, Colo. 5
1920-1930
45,000
101.588
1586.
4 H
1940
13,000
1660.
4
1950
200,000
1343...Evanston, III. (2 Issues)....
4
1911-1915
45,000
100
1343.
4
1911-1940
528,000
105.079
1660. .Forest City, No. Caro
5
1940
100
25,000
1467. .Frankfort, Ind
15,000
101.18
1585.
5
£1915-1935
8,000 1/100
1661.
4H
35,000
100
1586.
5
40,000
1400. .Gila Co. S. D. No. 26, Arlz_. 7
7;ooo
1467. .Gloucester City, N. J
1930
4H
25,000
100
1467. Gooding, Idaho
£1920-1930
100
7,000
1527. .Goshen, N. Y
4)4
100
10,000
1400. .Greene County, Miss. (2 issues)
40,000
1400. .Greenwich Sch. Dist., Ohio
1916-1943
4H
20,000
105.083
1467.
1915-1929
4H
103.525
2,000
1400...Hammett Sch. Dist., Idaho.
5
1919-1930
100
12,000
1400
6
1935
30.000
1400.
4
1911-1920
51,000
101.814
1400.
4
1911-1924
14,000
1661. .High Bridge, N. J...
4
1945
13,500
•
100
1400. .HiPsboro, Tex
5
£1925-1950
40.000
1587. .Homer, La
5
£1930-1950
40.000
1661. -HomeUsvllleS. D. No. 7, N. Y. 4
25,000
100
1587. .Houston Co. Com. S. D., TeX
5
£1915-1930
1,600
1527.
1912-1921
4H
10,000
102.12
1400. .Huron, Ohio
6
1913
102.666
3,000
1528. .Indianapolis. Ind
6
101.09
3,644
1528. .Jack Co. Com. Sch. Dist., Tex. 5
£1915-1930
100
5,000
1400. .Jamestown, N. Y
1931
4)4
40,000
104.313
1343.
5)4 ’lO.^l&’Sl
100
133,000
1344.
4
1960
30.000 *101
1528. .Johnstown Sch. Dist., Pa
4H £1915-1940
101.75
55,000
1587. .Kanawha Sch. Dist., Iowa
1,200
100
1587. .Kansas City Park Dist., Kan.
95,000
1344. _Kaw Valley Drain. Dist., Kan. 5
1940
1,225.000
1468. .King Co. S. D. No. 15, Wash. 5)4 £1912-1920
100
7,000
1400.
5
1913
104
2,000
1400- .Lancaster,
5
1911-1915
102.80
5,000
l400__Larksville,
5 )4 *20.*30&* 40
30,000
1400__Lark8Ville
5)4
27,000
1344. .Lauderdali
100
50,000
1344. .Lawrence,
4
1911-1930
103.657
90,000
1587. |
6
100
16,676
1662. .Lincoln Co., Idaho (2 Issues).
£1920-1940
100
7,000
1662. .Livingston Sch. Dist., Cal
5
1911-1920
10,000
100.53
1401. .Lockhart, Tex
5
£1920-1950
15,000
1278.
£1920-1930
3)4
15,000
Ohio..
1911-1920
102.08
4)4
7,500
Ohio..
1912-1921
101.688
4H
21,500
11434568006278..MLMoyiocgrwsrbAaeafinlt,hknpudx,
■
'
_
•
•
^
^
M
'
County. Minn
*
Maturity.
3^
3^
4H
1399. .Barberton Sch. Dist., Ohio
1399. .Battle Creek, Iowa
1344__LouIsvIlle, Ky
„
LXXXXI
Ohio
Ind. Sch. Dist., Tex
1662
1528
Twp.
1587.. Mar oai. Ill..
1528
1662
1528
1344 .Mart Ind. Sch.
1587 .Martin County,
4
1920
5
1916-1921
1915-1920
1950
1918
al9)4
1915-1923
1911-1920
5
5
5
5
6
5
5
4H
5
Dist., Tex
Minn. (4 Issues) 5
3M
3
H £1920-1925
Ohio
4H
Sch. Dist., Okla
6
County Sch. Dist., Cal. 5
County, N. J
4H
4
Wls
1587__Mtnden, Neb
5
1401 ..Minster, Ohio
Ala
Ala
County, Minn
1916-1925
£1930-1950
5
4
5
5
4
1912-1914
1911-1920
1930-1949
1911-1930
/200.000
4.000
16,000
1,000
9,000
84,000
/949.000
{
1 41,000
2,641
40,000
10,000
120,000
115,000
117,000
1931
J94.033
\tO
95
100.236
100.53
100.072
102.25
121,000
29,000
X
100
100
101.725
500
100
10,000
100.79
10,000
100
54,000 t/102.703
20,000
2,000
1930
100
1150,000 *100
102.102
63,500
3,000
105.066
2s;ooo
100.10
1113534484063...GHG1riagelhnatvinilde,
111644866992...LMMaokrrelbsoiwwde
142679.Paswtuicke, 11133454625599...PWN0aooaflriuurtptssbhmkeen,y,h
Deo. 17
Page.
1344.
1469.
1662.
1587.
1528.
THE CHRONICLE
1910.)
Name.
Rate.
.Mt. Pleasant Ind. S. D., Tex__ 5
.Mt. Washington, Ohio
5
—
Bay Union Free Sch.
County, N. J
R. I. (5 Issues)
1588-.Perry,
1588
1529
1588
Iowa____—__
Pboenlxville Sch. Dist., Pa—
Pittsburgh,
Pa.-HHand
1959
1959
’
1.000J
1915-1930
1914-1936
1911-1920
1911-1915
100
23,000
5,935
1.465
15,000
2,000
102.708
67,500
105.539
580,000
100
80,000
150,000 t/101.50
60,000
1928
4
6
5
4
Sub-
1940-1949
4H
1663.
4
4X
250.000
5,000
20,000
500,000
475,5271
1931-1950
1939
1920
4
6
100.477
13,709
20,000 102.0825
10,000
275,000
1920-1949
4H
4^
4H
100
103.814
100.016
100
102.371
3,255,700]'X100
1912-1951
(11930-1940
1588.
1345.
1588.
106.10
101.41
15,000
8,397
6,000
5,000
7,000
1911-1916
1911-1915
1919-1925
4H
4H
4 M
1344.-Painesvllle, Ohio
1,000
1930
4 H
5
5
5
Price.
100
$5,500
140,000
.Muskogee County, Okla
5
.Nephi, Utah (2 issues)
5
.Newburgh Heights. O. (6 iss.) 5
1588. .Newhall Sch. Dist., Cal
5
1469. .New Haven, Minn
6
1529. .Newton Township, Ohio
4H
1588. .New York City (2 issues)
3
1588. .New York City
4
1469.
1401.
1529.
1529.
1529.
1529.
1401.
1588.
1529. .Oyster
Amount,
Maturity.
(11920-1950
1920
104.511
100 10
96.81
100 to
.
1401.
1469.
1469.
1469.
1401.
1345.
1529.
1401.
1663.
1588.
1345.
.Port of Toledo,
.Preble County,
.Preble County,
.Preble County,
.Princeton Joint
Ore
Ohio
Ohio
Ohio
High S.D.,Cal.
.Quincy, Mass
.Quincy, Mass
.Quitman County, Miss
.Ralston, Okla
.Randolph Sch. Dist., Neb
.Reading, Ohio
—
1588. .Reno, Nev
Wls
Ohio
.Rome, N. Y
.Rye, N. Y
.St. Paul, Minn
j
_St. Paul, Minn
.St. Petersburg, Fla. (5 issues).
.Salamanca, N. Y
.Salem, Ohio
.Salem, Ore
.Sait Lake City S. D., Utah
1529. .Rice Lake,
1469. .Richwood,
1588.
1402.
1469.
1469.
1402.
1529.
1345.
1529.
1588.
6
(11920-1930
1911-1914
4H
1911-1913
4H
4 Vi
1911
5
1912-1941
4
1911-1920
4
1911-1920
5
(11930-1940
6
(11920-1935
5
(11920-1930
1930
4H
7
1911-1915
6
1920
4H
1912-1921
4
4
4
1915-1924
1940
H
6
50,000
1,216
384
80
30,000
20,000
19,000
50,000
25,000
15,000
2,500
5,107
15,000
18,000
34,000
10,000
150,000
200,000
100,000
8,384
10,000
400,000
1940
1930
1920-1929
1935
1930
4H
4H
5
4
/ 410,000
\
1345 ..San Benito Ind. S. D., Tex__ 5
4
1469
1345 ..San Saba Ind. Sch. Dist. Tex. 5
1529
1402
.Sapulpa,
(11915-1950
1918
5,000
14,000
5,000
70,000
1,821
226,086
825,000
3,000
1,425
100,000
5
Okla
1598
1588
6
7
1402
4H
40,000
5,000
1911-1920
1915
Various
1930
1925
5
6
5
1588 ..Snohomish County, Wash
1530 .Southold Un.F.S.D.No.9,N.Y. 5
1913-1932
13,0001
1530 ..Southold Un.F.S.D.No.9,N.Y. 5
1911&1912
800j
1589 ..Spokane, Wash
512,000
1402 ..Stanton Sch. Dist. No. 3, Neb. 5
20,000
1530
1940
72,000
4H
1589 .Taylor County, Tex
150,000
i
1345 ..TerrellCo.Com.S.D.No.l, Tex. 5
5,000
3
1345
(11930-1950 1,353,700
5
1530
1912-1916
10,000
1664 ..Twin Falls S. D. No. 4, Ida_. 5
(11920-1930
2,000
1470 _Vallejo, Cal
5
1912-1931
90,000
6
1912-1921
1470
10,000
6
1664 ..Vandalia Sch. Dist., Mont
(11925-1930
2,500
1470 -Virginia Sch. Dist., Minn
75,000
1402
1911-1920
20,000
4H
4
1345
1911-1920
10,000
1530
4 H
23,630
4
1470
12,000
1470
1911-1915
3,490
4H
4
1664
1911-1920
2,000
1346 .Wayland, Mass
4
1911-1930
26,000
1530 .Waynesfield Sch. Dist., Ohio.. 5
1912-1929
18,000
1346 .Wayne Twp. Sch. Dist., Ohio. 5
1912-1920
30,000
1346
4
1915-1929
75,000
1530
1930
4X
6,0001
1530
5
1911-1920
2,778]
1402 -West Carrollton,
1914-1930
4H
12,000
300
1
1346__West Union, Ohio
100
4
100
1471.
1911-1930
50,000
4H
1531.
1915
125,000
4H
1531.
1911-1930
4H
20,0001
1531.
1911-1930
40,000 j
4H
1531. .Yonkers, N. Y
1911-1950
40,000
4X
1471. .Youngstown, Ohio (13 issues).
5
1912-1916
24,275
1471.
5
1911-1913
3,000
1471.
5
1911-1915
5,000
1588
.
.Severy, Kans.
1530
—
-
1
Total bond sales for November 1910
a Average date
year and mature
100.071
100
100
104.25
101.196
104.415
108.30
95.75
100
100
100
95
102.80
104.46
103.375
106.057
100
100
100
102.12
106.33
101.22
100
101.075
100.60
102.767
105.45
104.78
104.02
104.009
104.458
100
100.73
100.75
101.21
100.665
101.91
103.431
v
fc$24,625,551
,
145372.GMRaidnwsboyerughDN.29,Sa8k
Dakota (6 Issues)
The following items included in our totals for
months should be eliminated from the same.
We
previous
give the
in which the reasons
Page.
Name of Municipality
1527..Duluth, Minn. (September list)
1467..Harbor Springs, Mich. (April Ust)
1344--Lauderdale County, Miss. (September list)
We have also learned of the
previous months:
Page.
Amount.
$50,000
45,000
50,000
following additional sales for
Joint S. D. No. 121. Kan
Name.
Rate.
-
1585..BeUalre, Ohio
1399.-BellefontaineSch. Dist., Ohio.
>1585-.Caldwell, Ohio (August)
i860.-Cavalier County, N. Dak.(Jan.)
1.)
1685-.Cherokee, Okla. (2 issues)
1660--Dieterich S.D.No.29,111.(June)
3)
1343..Du Bois County, Ind
1467-.East Rochester, N. Y
1660..East Youngstown, Ohio (May)
r)
1343..El Paso County Com. S. D.,
_
4
4U
4H
Maturity.
1912-1937
1930
1919-1941
4
1918-1921
6
’ls/ao&’zs
Amount.
$13,000
30,000
35,000
3,500
Price.
104.29
100
106.085
7,200
30,000
100
6
1911-1930
1911-1915
1911-1915
6,500
26,200
5.000
5,000
100
100
5
dl925-1930
6,800
100
6
5
5
5
•t
Tex.
(September)
6
1912-1935
6
(11914-1938
1920-1930
1913
1911-1930
1950
4
4
4 H
1402..Seattle, Wash. (17 issues)
6&7
1664.-Sedgwick County, Kan
1402._Uniontown S. D., Pa.
(April).
N. H. (July)
1345. -Watervliet, N. Y
Wis. (2 issues)
(11911-1936
1930
5
N. J
Va
N. C. (January)
1920
1940
1960
5
100
10,000
12,000
170,000
10,000
25,000
16,000
30,000
105
1,600
25,000
100,000
104.08
1,994
101.55
10,890 £101.70
11,100
101.621
101.70
5,407
101.699
5,633
101.69
6,553
101.70
17,160
„
100.727
100
100
55.000
20,180
6,000
31,455
7,500
100
70,000 3100
250,000
...
1920-1928
60.000
3H
100
104.033
100
100
25,000
1911-1919
1920
1935
__
Price•
$1,500
50,000
453,084
5,000
125,000
24,000
9,000
5
4H
4
Amount.
--.
100
All the above sales (except as indicated) are for October.
These additional October issues will make the total sales (not
including temporary loans) for that month $26,859,082.
BONDS
SOLD
BY
CANADIAN MUNICIPALITIES.
Name.
Page.
1591.
1666.
Rate.
Maturity.
Amount
5
5
1911-1940
$10,000
4H
1911-1920
1930
1911-1920
1911-1940
_
_
1591.
1472.
1472.
1347.
1347.
1531.
-
_
.
6
5
4H
-4H&5
1911-1920
4H
-
-
1403.
1403.
1666.
1591.
1531.
_
.
-
-
1531.
1531.
1531.
1472.
1532.
-
-
-
-
.
1532.
1591.
_
.
1532.
1866.
1591.
1472.
1347.
_
-
_
-
_
1592.
_
1472.
1403.
1403.
1472.
1592.
-
-
-
.
_
1347.
1667.
1532.
_
.
_
1532.
1592.
.
_
1592.
1282.
1472.
_
-
-
1472.
1403. -Renfrew,
-
5
5
6
_
_
.
_
1403.
1472.
1532.
_
.
.
Price.
116.000
2,000
17,000
2,652
101.514
100
30,000
9,197
10,000
96.083
5,000
93.933
1911-1925
1911-1940
1911-1920
25,000
1,500
1911-1920
3,481
1950
1940
1940
1930
2,000]
5
6
6
5
1911-1930
1911-1918
1911-1920
2,9001 1
5X
1925
1911-1925
4H
4H
4X
4H
5 y%
5
4H
5
6
4
4H
4H
5
5
5
6
5
5
4X
4H
4H
5
5
6
5
5
5
6
100
100.916
7,600
1,500
4,137
3,000
1,062
1,700
35,223
3,500
2,500
95.65
f
■
316,000
97.51
1911-1940
1911-1920
1950
1915
1920
1911-1930
1911-1940
1935
1911-1920
75,000
1,000
175,000
4,872
11,726
7,500
10,000
15,000
2,000
250,000
123,000
101.141
1960
1940
1911-1940
1930
1940
1940
1911-1930
1911-1920
1930
1911*-1930
1940
3o;ooo
4H'
5"
Que.
1592.
1592.
1667.
1472.
1930
94.24
100.42
60,000
7,500
98.826
12,500
50,000
36.000
.2,500
1.045
10,000
23,334
20,000
10,000
15,000
102.061
'
99.27
101.50
1592.
.
VegrevIUe, Alta.
1592-.Victoria, B.C
1403. .Victoria County, Ont
1667--Viscount, Sask
l592-_Watrous, Sask
1472,-Yorkton, Sask. (6 issues)
_
.
_
_
-
6
6
4
1911-1914
4
6
1911-1930
1920
1920
1911-1930
-
5
Total
850
9,000
650,000
10:000
95.75
1,000
10,000
140,000
$2,386,779
ADDITIONAL SALES OF DEBENTURES FOR PREVIOUS MONTHS.
Rate.
5
6
S.D.No.2161,Alta._ 6H
S. D. No. 2136, Alta. 6>|
1347.-Raymore, Sask
6
1403__Revelstoke, B. C. (July)
5
1592_.Swanson S. D., Sask. (Sept.)__ 6
1347.-Watrous, Sask
5H
Maturity.
Name.
Amount.
$20,000
1911-1925
*
1920
1911-1920
1,700
800
1,500
5,000
27,000
1920
1911-1930
1,200
10,000
Price.
104.38
100
100.25
100
96.78
100
98.77
All the above sales of debentures
(except as indicated) took
These additional October issues will make
of debentures for that month $2,518,232.
place in October.
News Items.
Arizona.—Constitutional Convention Completes Proposed
Constitution.—The proposed Constitution for the new State
of Arizona was completed and adopted by the Constitutional
Convention on Dec. 8.
It is said that the measure will be
submitted to the people for ratification on Feb. 9 1911.
Columbus, Ga.—United States Supreme Court Decides City
Right to Build Water-Works.—The United States Su¬
preme Court on Dec. 12, according to local papers, rendered
a decision upholding this city in its efforts to construct a
municipal water-works plant. Bonds amounting to $250,000, bearing 4% interest and maturing in 25 years, were
voted by the people on Dec. 4 1902 for the building of a
municipal plant, but their issuance has been prevented by
lengthy litigation. During 1908 decision was modified so as
to allow the city to sell its bonds and proceed with the
building of the plant, but not to operate the same. The
Has
1342.-Arkport School District, N. Y_ 5
<11915-1920
1663.-Okanogan, Wash
6
6
County, Okla
1401 ..Osborne & Russell Counties
the total sales
IREVISEDiTOTALSJFORIPREVIOUSIMONTHS.l
page number of the issue of our paper
tor these eliminations may be found.
6
4
1347._Carleton County, Ont
of maturity,
d Subject to call in and after the earlier
in the later year,
k Not including $19,217,845 of tem-
And other conslderations.il
Rate.y Maturity.
6
6
5
Spec. Sch. Dist., Ark. 6
1911-1914
1401LeightonS. D., Iowa (Sept.).- 5
1930
Graded S. D., So .Car,
1910-1949
1344.-Modesto, Cal. (4 issues)
5
al916
County, Ohio
4H
al016
County, Ohio
4H
1469,-Morrow County, Ohio
al9l6
4H
al916
1469._Morrow County, Ohio
4H
al916
County, Ohio
4H
al916
4 VS
County, Ohio
a!915
County, Ohio
4H
1344. _Nanticoke Sch. Dist., Pa
5
(11925-1940
Page.
reported,
do notx Taken
belong by
the list; fund
also as
doesan not
{jorary
nclude loans
and whichloans,
In sinking
of Canadian
$2,386,779
in¬
vestment
Name.
Co. S. D. No. 62,Mont.
1527.. Glenwood, Minn
15-s6..GrantvIlle, Ga
Tex. (2 issues)
lh61_.Hemingsford, Neb. (July)
Irr. Dist., Colo
1661 ..Hillsboro, Ore
Twp., Mich. (August)
1532.
(208 munici¬
palities, covering 295 separate issues)
pr
100.50
101.10
100.041
100.481
100.537
101.791
101.271
101.666
100.80
100
100
105.34
100
101.103
101.861
Page.
1657
165S
bonds,
THE CHRONICLE
however, have never been issued. For further
litigation see the “Chronicle” of Oct. 3 1908.
details of
Louisiana.—Official Vote
on Constitutional Amendments.—
already stated in these columns, all of the fifteen pro¬
posed amendments to the State Constitution were approved
by the people on Nov. 8. Below we give the official vote
on each question:
As
Amendment levying a tax in aid of the Exposition celebrating the open¬
ing of the Panama Canal.
Vote 33,414 “for” to 11,144 “against.”
Amendment authorizing an issue of bonds by the World’s Panama Ex¬
position Co. and the levying of a further tax in the City of New Orleans,
all In further aid of the Exposition celebrating the opening of the Panama
Canal.
Vote 32,703 “for” to 10,683 “against.”
Amendment creating a road fund by levying one-fourth of one mill tax.
Vote 28,118 “for” to 12,172 “against.”
Amendment giving the power to the Board of Commissioners of the Port
of New Orleans to erect and operate public warehouses. Vote 25,580 “for”
to 12,701 “against.”
Amendment relative to the levying of a tax of not less than three mills
on the dollar by parishes, cities or towns for the
support of the public
schools of the State.
Vote 30,018 “for” to 11,247 “against.”
Amendment to Article 46 of the Constitution, relative to the State bonded
Indebtedness.
Vote 27,119 “for” to 11,041 “against.”
Amendment creating and establishing the office of Assistant AttorneyGeneral.
Vote 25,598 “for” to 12,887 “against.”
Amendment to Article 281 of the Constitution, relative to the issuance
of bonds for works of public Improvement by municipal corporations,
parishes and school, drainage and sewerage districts, the city of New Orleans
excepted, and the assessment of special taxes to pay for same.
Vote 25,070
“for” to 12,008 “against.”
Amendment levying a tax of one-fifth of a mill for the purpose of supple¬
menting the appropriation already pensioning Confederate soldiers.
Vote
35,007 “for” to 7,631 “against.”
Amendment regulating the care of neglected children and providing for
the establishment and holding of juvenile courts.
Vote 30,024 “for” to
9,480 “against.”
Amendment to Article 86 of the Constitution, relative to qualifications
of Justices of the Supreme Court, and fixing their term of office.
Vote
26,254 “for” to 11,654 “against.”
Amendment to the Constitution, exempting domestic steamship com¬
panies from all taxation for fifteen years under certain conditions.
Vote
27,453 “for” to 11,915 “against.”
Amendment to Article 18 of the Constitution, authorizing the Increasing
the number of representatives under certain conditions.
Vote 24,955 “for”
to 14,570 “against.”
Amendment to Article 107 of the Constitution, dividing the State Into
Judicial Districts (Parish of Orleans excepted).
Vote 25,999 “for” to
11,691 “against.”
Amendment to Article 229 of the Constitution, authorizing the General
Assembly to levy a conservation license tax.
Vote 24,930 “for” to 13,422
“against.”
Michigan.—Constitutional Amendment Adopted.—It
was
announced by the State Board of Canvassers on Dec. 14
that the amendment to the State Constitution submitted to
the voters on Nov. 8 (V. 91, p. 539) allowing counties having
an assessed valuation of $5,000,000 or
less to create debt
to 5% of this value was adopted by a vote of 131,147
‘for” to 128,729 “against.”
Heretofore all counties were
imited in the creation of debt to 3% of their assessed value.
up
New York State.—Official Vote on Constitutional Amend?
and Palisades Park Bond Proposition.—The State
oard of Canvassers on Dec. 15 completed their tabulation
f the vote polled Nov. 8 on the Constitutional Amendment
ent
ncreasing the salary of the Chief Judge and Associate Judges
Appeals, and providing for two more Associate
Judges. Also the Palisades Park proposition referred to in
the “Chronicle” of May 28 1910, providing for the issuance
of $2,500,000 50-year bonds for the improvement and
extension of this park.
The vote cast is as follows:
of the Court of
Constitutional Amendment—Whole number of votes cast, 1,094,199;
“for,” 332,300, and “against,” 332,592.
Void ballots, 770.
Blanks
428,537.
Majority against amendment, 292.
Palisades Park Bond Proposition—Whole number of votes cast, 1,084,061; “for,” 349,281, and “against,” 285,910.
Void ballots, 1,759. Blanks,
447,111.
Majority in favor of proposition, 63,370.
The vote
on
the amendment in Greater New York
was
305,221 “for” to 101,708 “against”. On the bond proposition
it was 218,020 “for” to 74,451 “against.”
Oakland, Cal.—Commission Plan of Government Adopted.—
A new city charter, providing for the commission plan of
government, was adopted by a vote of 9,023 to 3,108, it is
stated, at an election held Dec. 8.
Ohio.—Question of Holding Constitutional Convention
Approved.—The question of holding a convention to revise
the State Constitution was approved by the voters on Nov. 8.
A bill was passed by the Legislature on April 26 1910
provid¬
ing that all straight ballots of political parties which endorsed
the convention be counted as votes for the plan.
The vote
was 693,263 “for” to 67,718 “against.”
Oklahoma.—Both Branches of Legislature Favor Change in
State Capital Site.—The newspapers report that both the
House and Senate, which are in special session at Oklahoma
City (V. 91, p. 1525), have passed a compromise bill selecting
that city as the capital site.
On Nov. 15 the State Supreme
Court decided that the election held June 11, at which time
it was voted to change the location of the State capital from
Guthrie to Oklahoma City, was void because of defects in
the title of the ballot.
The Governor then called a special
session for the purpose of authorizing a referendum on the
capital proposition. V. 91, p. 1398.
Oregon.—Official Vote on Constitutional Amendments.—
Below we give the official vote cast at the election Nov. 8
on the eleven proposed amendments to the
Constitution,
mentioned in the “Chronicle” of Nov. 5 1910.
Following is
the vote on each proposed amendment:
Women’s
gardless of
“against.”
tax-paying suffrage amendment, granting to tax-payers, re¬
sex, the right of suffrage.
Vote 35,270 “for” to 59,065
Amendment to Sections 6 and 7. Article IV., of the Constitution of this
State, to provide a separate district for the election of each State Senator
and each State Representative.
Vote 24,000 “for” to 54,252 “against.”
Amendment to Section 32, Article I., of the Constitution, by omitting
the words, “and all taxation shall be equal anl uniform,” and inserting in
lieu thereof the words, “taxes shall be levied and collected for public pur-,
poses only, and the power of taxation shall never be surrendered, suspended,
or contracted away."
Vote 37
r” to 40,172 “against.”
[VOL.LXXXXi
Amendment to Article IX. (XIX.) authorizing the creation of railroad
districts and the purchase and construction of railroads,or other
highways,
by the State, counties, munlclapllties, and railroad districts, creation of
liens upon property or levying taxes for the payment of the same.
Vote
32,844 “for” to 46,070 “against.”
An amendment to Section 1 of Article IX. of the Constitution
directing
a uniform rule of taxation
“except on property specifically taxed,” author¬
izing the levy and collection of taxes for State purposes and for county
and other municipal purposes upon different classes of
property, and appor¬
tioning State taxes among the several counties as county obligations.
Vote 31,629 “for” to 41,692 “against.”
Amendment providing for the people of each county to regulate taxation
and exemptions within the county, regardless of constitutional restrictions
or State statutes, and
abolishing poll or head tax.
Vote 44,171 “for” to
42,127 “against.”
Amendment giving to cities and towns exclusive power to license, regu¬
late, control, suppress, or prohibit the sale of intoxicating liquors within
the municipality.
Vote 53,321 “for” to 50,779 “against.”
Amendment to Section 35 of Article I. of the Constitution, prohibiting
the manufacture and sale of intoxicating liquors and the traffic therein
within the State of Oregon, on and after the first day of July A. D.
1911,
excepting for medicinal, scientific, sacramental and mechanical purposes.
Vote 43,540 “for” to 61,221 “against.”
Amendment to Section 10 of Article XI. of the Constitution, permitting
counties to incur Indebtedness beyond $5,000 to build permanent roads,
and providing that debts for permanent roads may be incurred on
approval
of a majority of those voting on the question.
Vote 51,275 “for” to 32,906
“against.”
Amendment to Article IV. of the Constitution, increasing initiative,
referendum and recall powers of the people; restricting use of emergency
clause and veto power on State and municipal legislation;
requiring pro
{>ortional
of members
fromterms
election
of Legislative
the of
State
at
arge, annual
sessions,
and increasing
members'Assembly
salaries and
office:
providing for election of Speaker of House and President of Senate, outside
of
members;
restricting corporate franchises to twenty years; providing
roll-call, and changing
legislative log-rolling.
Vote 37,031 “for” to 44,366 “against.”
Amendment to the Constitution, providing for verdict by three-fourths
of jury in civil cases: authorizing grand juries to be summoned
separate
from the trial jury, permitting change of judicial system by statute,
pro¬
hibiting re-trial where any evidence to support verdict; providing for af¬
firmance of judgment on appeal notwithstanding error committed in lower
Court, directing Supreme Court to enter such judgment as should have been
entered in lower Court; fixing terms of Supreme Court; providing judges
of all courts be elected for six years, and Increasing jurisdiction of
Supreme
Court.
Vote 44,538 “for” to 39,399 “against.”
ten dollars penalty for unexcused absence from
any
form of oath of office to provide against so-called
In view of the adoption of several of the above amend¬
and particularly the one which provides that the
ments
people of each county shall have the right to regulate taxation
and exemptions within the county regardless of constitutional
restrictions or State statutes, municipal bond houses are
advising caution in buying bonds issued by municipalities
in the State of Oregon.
We publish below a copy of a letter
containing the opinion of Chas. B. Wood, Attorney of
Chicago, given to Woodin, McNear & Moore of that city,
and which the latter are sending out to their customers.
December 12 1910.
Messrs. Woodin, McNear & Moore, Chicago:
Gentlemen.—Owing to the recent crazy amendments to the Constitution
of the State of Oregon, which were proclaimed to be in force by the Governor
on Dec. 3d, I advise that you do not under
any circumstances put up any
deposit of money in bidding for bonds In that State, and in addition I
advise extreme caution in buying bonds at all,
In giving opinions upon
bonds in the State of Oregon delivered after this date, I shall feci bound
to insert in my opinion something like the following:
“This opinion is
subject to revenue laws hereafter enacted In the different counties in the
State of Oregon designating what property Is taxable and what is exempt.”
Yours truly,
(Signed) CHAS. B. WOOD.
Philadelphia, Pa.—Common Pleas Court Declares $8,000,000 Loan Illegal.—In the recent suit brought by Logan
M.
Bullitt in the Common Pleas Court No. 4 to test the
validity of the $8,000,000 bonds offered without success on
May 16 (V. 90, p. 1380) a decision was handed down on
Dec. 15 declaring the issue illegal.
The Court holds that the
city in advertising and submitting the loan to the voters
failed to announce the specific and accurate indebtedness
as fully as required by law.
It is stated in Philadelphia papers that the case will un¬
doubtedly go to the Supreme Court and that the loan could
be made by complying with the legal requirements set forth
by the Common Pleas Court.
Virginia.—Vote on Constitutional Amendments.—Accord¬
ing to the official count of the returns in the election Nov. 8,
only one of the four proposed amendments to the State Con¬
stitution submitted on that day carried.
The amendment
which was successful relates to the election and terms of
office of county officials.
The vote on all four questions
follows:
For the amendment to Section 46 of Article 4 of the Constitution of Vir¬
ginia, extending the session of
12,411; against,
the
47,376.
General
Assembly to ninety days,
For the amendment to Section 50 of Article 4 of the Constitution of Vir¬
ginia, simplifying legislative procedure, 20,929; against, 38,678.
For the amendment to Section 110 of the Constitution of Virginia, with
reference to the election of the Treasurers and Commissioners of the Revenue
in counties, 30,744; against, 29,307.
For the amendment to Sections 119 and 120 of the Constitution of Vir¬
ginia, with reference to the election of Treasurers and Commissioners of the
Revenue in cities, 26,771; against, 28,315.
We referred to the above amendments in the “Chronicle”
of Oct. 1 1910, p. 894.
Wisconsin.—Vote
on
Constitutional Amendments.—Of the
three
proposed amendments to the State Constitution, two
were approved by the voters on Nov. 8.
The vote on all
three questions, reference to which was made in the “Chron¬
icle” of Dec. 4 1909, page 1494, was as follows:
Amendment to Section 21 of Article IV. lncreasing’the pay of members
Legislature—44,153 “for” to 76,278 “against.”
Amendment to Section 3 of Article IV. providing for apportionment of
members of the Senate and Assembly after each U. S. Census—54,932
“for” to 52,634 “against.”
Amendment to Section 10 of Article VIII relating to the appropriation
of moneys for the acquisition and development of the water power and
forests of the State—62,468 “for” to 45,924 “against.”
of the
Bond Calls and
Redemptions.
Allegheny County (P. 0. Pittsburgh), Pa.—Bond Call.—
Jan. 1 1911 at the office of the
County Comptroller of registered compromise bonds numCall is made for payment
THE CHRONICLE
Deo. 17 1910. |
bered from 776 to 800 inclusive.
1863 and mature Jan. 1 1913.
The bonds
are
dated Jan. 1
Denver, Colo.—Bond Call.—The following bonds are called
Dec. 31:
for payment
Storm Sewer Bonds.
Sub-District No. 3 of the North Denver Storm Sewer
Bonds Nos. 1 and 2.
Sub-District No. 4 of the North Denver Storm Sewer
Bonds Nos. 1 to 3 Inclusive.
South Capitol Hill Storm Sewer District, Bond No. 51.
District No. 1,
„
.
Sanitary Sewer
District No. 1,
Improvement District No. 1, Bonds Nos. 32 and 33.
District No. 1, Bonds Nos. 2.8 to
Hijrh and Race streets Improvement
Street Improvement District No. 1, Bonds Nos. 25 to 33
South Side Improvement
Azusa, Los Angeles County, Cal.—Description of Bonds.—
'Bonds.
Capitol Hill Improvement District No. 5, Bonds Nos. 1 to 45 inclusive.
East Denver Improvement District No. 2, Bonds Nos. 212 to 216 in¬
40 Inclusive.
South 14th
inclusive.
Athol, Worcester County, Mass.—Temporary Loan.—
Dispatches state that a temporary loan of $10,000 has been
negotiated with Estabrook & Co. of Boston at 3.56% discount
and a premium of 50c.
Loan matures May 3 1911.
Atlantic, Cass County, Iowa.—Bonds Voted.—Local pa¬
pers state that a proposition to issue $50,000 refunding and
water bonds carried by a vote of 771 to 144 at a recent elec¬
tion.
„
East Side Sanitary Sewer District No. 1, Bonds Nos. 174 to 188 Inclusive.
Sub-District No. 2 of the East Side Sanitary Sewer District No. 1, Bonds
Nos. 1 to 14 inclusive.
Sub-District No. 5 of the East Side Sanitary Sewer District No. 1, Bond
No. 18.
South Side Special Sanitary Sewer District No. 4, Bond No. 2.
West Colfax Avenue Spec’al Sanitary Sewer District, Bonds Nos. 62
to 67 inclusive.
Improvement Bonds.
clusive.
East Side
1659
District No. 1. Bond No. 75.
Paving Bonds.
Fifteenth Street Pavin? District No. 2, Bond No. 17.
Wazee Street Paving District No. 1, Bond No. 6
Upon the request of the holders of any of the above bonds received 10
days before the expiration of this call, the Treasurer will arrange for their
payment at the Mercantile Trust Co., New York City, but not otherwise.
Bond Proposals and Negotiations this week
have been as follows:
Adel, Berrien County, Ga.—Bond Offering.—Proposals
will be received until Dec. 31 for the
$7,500 5% water-worksimprovement and water-main-extension bonds voted (V. 91,
p. 816) Aug. 17.
Denomination S500.
Date Jan. 1 1911.
Interest semi-annually at the
office of R. F. Jackson, Secretary and Treasurer.
Maturity Jan. 1 1941.
Certified check for 2% of bonds bid for is required.
Official circular states
that there is no litigation pending or threatened affecting the corporate
existence or boundaries of said town, or the title of the past or present
officials to their respective offices or the validity of said bonds.
There
has never been any default in the payment of any of the town’s obligations.
Bonds have been validated by the Superior Court and their legality approved
by Storey, Thorndike, Palmer <Sc Dodge of Boston, who will furnish bonds
and legal opinion to purchaser.
The successful bidder must be prepared
to take up bonds Jan. 1 1911.
Bonded debt, including this Issue, §42,500.
Assessed valuation 1910, $723,000.
Real valuation 1910, §1,012,000.
Albany, N. Y.—Bond Sale.—On Dec. 15 the $100,000
20-year (third series) water and the $100,000 1-20-year
(serial) (second series) school 4% registered bonds described
in V. 91, p. 1585, were sold, the former issue to A. B. Leach
& Co. of New York City at 100.05 and the latter issue to
Clark, Dodge & Co., of New York City at par. Purchasers
We are advised that the $40,000 6% street-improvement
bonds awarded on Nov. 28 to G. G. Blymyer & Co. of San
Francisco at 108.4625 and interest (V. 91, p. 1585) are in
denominations of $500 each and are dated Dec. 15 1910.
Interest semi-annual.
Bagley, Clearwater County, Minn.—Bonds Not Yet Sold.—
are advised that no award has yet been made of the
$12,500 bonds offered but not sold on Sept. 25 1909 (V. 89,
p. 1365).
Baker City, Baker County, Ore.—Bonds Authorized.—Ac¬
cording to reports, an ordinance was passed on Dec. 1 pro¬
viding for the issuance of $33,023 85 street-improvement
bonds.
Maturity Dec. 1 1920.
Barre, Washington County, Vt.—Bond Offering.—Pro¬
posals will be received until 7p.m. Dec. 22 by James Mackay,
City Treasurer, for $45,000 4% coupon water bonds.
We
Denomination $1,000.
Date Dec. 1 1910.
Interest semi-annually at
the City Treasurer’s office.
Maturity $5,000 yearly on Dec. 1 from 1919
to 1927 inclusive.
states
that
the
bonds will be certified
Official circular
to genuineness by the Old Colony Trust Co. of Boston, which will further
certify that the legality of this issue has been approved by Ropes, Gray
& Gorham, of Boston, a copy of whose opinion will be furnished to the
as
purchaser without charge.
Beaumont, Navigation District Jefferson County, Tex.—
yet been decided when the
$493,000 5% 10-40-year (optional) navigation bonds, offered
No Action Yet Taken.—It has not
on Nov. 1 (V. 91, p. 1275), will again be
the market.
Bell County^Common School District No. 45, Tex.—Bonds
Registered.—On Dec. 3 the State Comptroller registered
$2,400 5% 5-20-year (optional) bonds.
Beloit, Rock County, Wis.—Bond Offering.—Proposals
will be received until 12 m. Dec. 22 by the Finance Com¬
mittee for the $25,000 coupon refunding bonds authorized
(V. 91, p. 1526) on Nov. 21 at not exceeding 5% interest.
without
placed
success
on
Denominations 15 bonds of $1,000 each and 5 bonds of $2,000 each.
Date Jan. 1 1911.
Interest semi-annual.
Maturity $1,000 yearly on Jan. 1
from 1912 to 1926 Inclusive and $2,000 yearly on Jan.l from 1927 to 1931
inclusive.
Purchaser to furnish blank bonds and pay accrued interest,
if any.
District No. 13 (P. O. Prosser),
Dec. 7 the $2,000 10-20-year
pay accrued interest.
The following bids were also (optional) coupon school-building and furnishing bonds
received:
described in V. 91, p. 1466, were awarded to the State of
Clark, Dodge & Co., New York_.i
al00.012
National Commercial Bank (§50,000), Union Trust Co. ($25,000),
Washington at par for 6s. There were no other bidders.
Albany Exchange Savings Bank ($10,000), New York State
Bent & Prowers Irrigation District, Colo.—Bond Sale.—
National Bank ($15,000), all of Albany
x par
Arrangements have been made with the Southwest Con¬
a For the water bonds,
x For the school bonds.
struction Co. for the sale of $4,000,000 6% irrigation bonds
Albany, Linn County, Ore.—Bonds Voted.—At the elec¬ in payment for work done. These bonds wrere offered (V. 90,
tion held Dec. 5 (V. 91, p. 1274), a favorable vote was cast
p. 460), but not sold, on Feb. 26. They are dated Feb. 1 1911.
on the proposed amendments to the city charter providing
Interest June 1 and Dec. 1.
for the issuance of the following bonds: $40,000 for the con¬
Berlin, Coos County, N. H.—Bid.—We are advised that
struction of sewers and $75,000 to refund an issue maturing
in addition to the successful bid of 102.07 and accrued inter¬
Oct. 1 1911.
The vote was 405 “for” to 93 “against” the
est submitted on Dec. 1 by E. H. Rollins & Sons of Boston
former issue and 418 “for” to 64 “against” the latter issue.
for the $80,000 4)4% 1-16-year (serial) coupon refunding
The bonds will draw interest at not exceeding 5%.
bonds (V. 91, p. 1526), an offer of 101.55 was also received
Bonds Defeated.—On the same day a vote of 226 “for” to
from N. W. Harris & Co. of Boston.
289 “against” was cast on the proposed amendment to the
Binghamton, Broome County, N. Y.—Bond Election Pro¬
city charter providing for the issuance of $15,000 bonds to
posed.—An
ordinance is before a committee of the Common
purchase a site for a city park.
Council providing for an election to vote on the question of
Albany County (P. O. Albany), N. Y.—Bond Offering.— issuing $158,200 light bonds.
Proposals will be received until 10 a. m. Feb. 1 1911 by
Bond Sale.—The $50,000 4)4% registered high-school-site
Win. P. Hoyland, County Treasurer, for $105,000 4% regis¬
bonds described in V. 91, p. 1399, were sold on Nov. 30 to
tered refunding bonds.
the Binghamton Savings Bank of Binghamton at 101.53.
Authority, Section 8, Chapter 24, Consolidated Laws. Denomination
Maturity $10,000 yearly on Aug. 1 from 1920 to 1924 in¬
$1,000.
Date Feb. 15 1911.
Interest semi-annually at the County Treas¬
to
urer’s office.
Maturity $15,000 yearly on Feb. 15 from
elusive and from 1917 to 1919 inclusive.
Allentown
1912 to 1915 in-,
(P. O. Allentown), Lehigh
County, Pa.—Bond Offering.—Proposals will be received
until 5 p. m. Dec. 27 by T. P. Werner, Secretary, for $170,000 4% coupon refunding and school building bonds.
School District
Denomination $500.
Date Jan. 2 1911.
Interest semi-annual.
Ma¬
turity yearly on Jan. 2 as follows: $9,500 In 1921, $29,000 in 1926, $35,000
In 1930, $43,000 in 1936 and $53,000 in 1941.
Bonds are free from taxa¬
tion.
Certified check for 5% of bid, payable to A. P. Zellner, Treasurer, is
required.
Angola, Erie County, N. Y.—Bond Offering.—Proposals
m. Dec. 22 by Geo. W. Shipman,
Village Treasurer, for $55,000 coupon water-works bonds at
not exceeding 5% interest.
Benton County School
Wash.—Bond Sale.—On
clusive.
Bremerton, Kitsap County, Wash.—Bonds Voted.—The
election held Dec. 6 resulted in favor of the question of
the $15,000 municipal wTharf bonds mentioned in
issuing
V. 91,
1399. The vote was 400 “for” to 188 “against.”
Brewster County Common School District No. 3, Tex.—
Bonds Not Sold.—Up to Dec. 11 the $6,000 5% 3-20-year
p.
(optional) registered school house-construction bonds which
offering for sale (V. 91, p.540) were
this district has been
not sold.
Okla.—Bond Sale.—This city has sold
$70,000 bonds to the Southwestern Engineering Co. of Okla¬
homa City.
These securities take the place of the $37,000
Authority Sections 128 and 129, Chapter 64, Consolidated Laws.
De¬ bonds mentioned in V. 91, p. 740, which have been canceled.
nomination to suit purchaser.
Date Dec. 1 1910.
Interest semi-annually
at the Bank of Angola or the Chase National Bank In New York City.
Broken Bow, Neb.—Bonds Not Yet Sold.—Up to Dec. 3
Maturity $2,200 yearly on Dec. 1 from 1915 to 1939 Inclusive.
Certified no award had
yet been made of the $15,000 city-hall and jail
check on a bank or trust company for 2% of bonds bid for, payable to the
Village Treasurer, is required.
Bonded debt, this issue.
Assessed valua¬ and the $8,000 water-extension 5% coupon bonds mentioned
tion 1910, $370,960.
in V. 91, p. 1399.
Ansley, Custer County, Neb.—Bonds Voted.—An election
Brunswick, Frederick County, Md.—Bonds Not Sold.—
held Nov. 29, it is stated, resulted in favor of a proposition No bids were received for the
$5,000 4)4% coupon streetto issue $5,000
electric-light-plant-construction bonds.
improvement bonds offered on Dec. 6 and described in V. 91,
Artesia School District (P. O. Artesia), Los Angeles p. 1399.
Maturity Jan. 1 1936, subject to call after 1921.
County, Cal.—Bonds Voted.—An election held Dec. 2 re¬
Burlington, Alamance County, No. Caro.—Bonds Not Sold.
sulted in favor of the question of issuing $20,000 5%
20-year —Up to Dec. 8 no award had yet been made of the $60,000
(serial) school-building and improvement bonds. The vote 5% coupon street and sidewalk bonds mentioned in V. 91,
was 99 “for” to 21
“against.”
p. 740.
will be received until 12
Broken Arrow,
I
1660
THE CHRONICLE
Canadian, Hemphill County, Tex.—Bonds Withdrawn from
Market.—The $5,000 5% 20-40-year (optional) streetimprovement bonds mentioned in V. 91, p. 895, have been
withdrawn from the market. <| M l4
i
Canton, McPherson County, Kan.—Bond Offering.—This
place is offering at par the two issues of 4)4% 5-20-year
(optional) bonds, aggregating $30,000, which failed to sell
(V. 91, p. 351) on Aug. 1. i 4 4 4 4WI 4
Carbon County School District No. 23 (P. O. Red Lodge),
Mont.—Bond Sale.—An issue of $1,000 6% 5-10-year (op¬
tional) coupon school-building bonds which was offered for
sale on May 7 has been awarded to the State of Montana
the
at par.
Cavalier County (P. O. Langdon), No. Dak.—Bond Sale.—
The $7,200 6% coupon Roseau Lake Drain No. 1 bonds
offered on Jan. 5 and described in V. 90, p. 63, were awarded
on
that
day,
we
have just been advised, to the Security
Trust Co. of St. Paul.
Maturity $2,400 on Jan. 5 in each of
the years 1915, 1920 and 1925.
Bond Offering.—Proposals will be received until 12 m.
Jan. 7 1911 by the Board of CountyCommissioners for $5,100
Williston Lake Drain No. 1 bonds.
The amount of bonds
to be issued will be reduced by the amount of assessments
paid in cash prior to the date of sale.
Certified check for
$500 is required4^i *;
Cave Springs, Benton County, Ark.—Bonds Authorized.—
Reports state that the issuance of $5,000 school-house-
construction bonds has been authorized.
Sale.—According
reports, $15,000 20-year permanent-improvement bonds
have been awarded to Hambleton & Co. and Baker, Watts
& Co., both of Baltimore, at their joint bid of 105.68.
Central Irrigation District (P. O. Gering), Scotts Bluff
County, Neb.—Bonds Voted.—A proposition to issue $21,000
6% refunding bonds was favorably voted at an election
held Nov. 26.
Maturity 1931.
Centre, Shelby County, Tex.—Bonds Not Yet Sold.—We
are advised under date of Dec. 9 that the
$12,000 5% water¬
works bonds mentioned in V.
91, p. 415,
a,re
still unsold.
Chadboum Drainage District (P. O. Chadboum), Colum¬
bus County, No. Car.—Bonds Not Sold.—We are advised
that no bids were received for the $30,000 6% 3-12-year
(serial)
on
coupon drainage-canal-construction
Dec. 6 and described in V. 91, p. 1526.
bonds offered
Chase
County (P. O. Imperial), Neb.—Bonds Not Sold.—
Up to Nov. 10 no sale had yet been made of the $25,000 5%
court-house bonds mentioned in V. 91, p. 51.
Chehalis County School District No. 9, Wash.—Bonds
Not Sold.—No award has yet been made of the $2,000 1-3year (optional) bonds offered (V. 91, p. 1196) on Nov. 5.
Citrus County (P. O. Inverness), Fla.—Bonds^ Defeated.—
A proposition to issue $150,000 bonds was defeated at an
election held Nov. 8.
Clark County (P. O. Jeffersonville), Ind.—Bonds Not Yet
Sold.—We are advised under date of Dec. 6 that the $62,000
Charlestown Township free-pike bonds mentioned in V.
89,
870, have not yet been sold.
Columbia, Richland County, So. Caro.—Bond Sale.—Ac¬
cording to dispatches, a syndicate composed of Townsend,
Scott & Sons and Baker, Watts & Co., both of
Baltimore,
has been awarded an issue of $800,000 5% 30-year
refunding
bonds at 103.56—a basis of about 4.80%.
It is further re¬
ported that the sale is subject to the authorization of the
issue by the next Legislature of this State, which will con¬
vene in January 1911.
Copiah County (P. O. Hazlehurst), Miss.—Bonds Voted.-—
According to reports, an election held Dec. 3 resulted in favor
of a proposition to issue $75,000
road-improvement bonds.
p.
The vote
was
239 to 106.
WfCordele, Crisp County, Ga.—Bond Sale.—On Dec. 7 the
$10,000 5% 30-year school-improvement bonds described
in V. 91, p. 1527, were awarded to the
Robinson-Humphrey
Co. of Atlanta at 104.37.
Bids were also received from
J. W. Dickey of Augusta, J. H. Hilsman & Co. of Atlanta
and Seasongood & Mayer of Cincinnati.
Covina, Los Angeles County, Cal.—Bonds Defeated.—
Reports state that an election held Nov. 29 resulted in the
defeat of a proposition to issue $70,000 sewer-system bonds.
The vote was 157 to 80—two-thirds being
necessary to
authorize.
Bonds Voted.—The question of issuing fire-house and
jail
bonds carried, it is said, at the same election, the vote on
this proposition being 161 to 69.
Dallas School District No. 2 (P. O. Dallas), Polk
County,
Ore.—Bond Sale.—On Dec. 1 $10,000 5% 10-20-year
(op¬
tional) school-building bonds were awarded to Morris Bros,
Portland at par and accrued interest.
Denomination
$1,000. Date Dec. 1 1910. Interest semi-annual.
Darlington, Darlington County, So. Car.—Bond Offering.
—Proposals will be received for the $12,000 5% 30-year
railway-aid bonds voted Sept. 6 (V. 91, p. 977).
of
Denomination $1,000.
Interest annual.
Eugene Vaughan is City Clerk
Dayton, Eddy County, N. Mex.—Bonds Not to he Re-offered
at Present.—We are advised that the $15,000
6% water
bonds offered but not sold on March 1 (V. 90, p. 723) will
not be placed on the market again in the near future.
LXXXXI.
Delaware, Delaware County, Ohio.—Bond Sale.—Accord¬
ing to reports $20,000 school-building bonds have been
awarded to Hayden & Miller of Cleveland at 101.31.
De Soto School District (P. O. De Soto), Jefferson County,
Mo.—Bond Sale.—The $5,000 4)4% 10-20-year (optional)
refunding bonds voted July 18 (V. 91, p. 289) have been
awarded to the Wm. R. Compton Bond & Mortgage Co. of
St. Louis at par. Denomination $500.
Date Oct. 1 1910.
Interest semi-annual.
Dieterich School District No. 29 (P. O. Dieterich),
Effing¬
ham County, Ill.—Bond Sale.—We have just been informed
that the $6,500 5% school-building bonds mentioned in
V. 91, p. 1253, were voted and sold last June.
Dryden Union Free School District No. 8 (P. O. Dryden),
Tompkins County, N. Y.—Bond Sale.—On Dec. 1 $4,000 4%
gold coupon school-building bonds were awarded to a local
bank at par.
These bonds are part of the $25,000 issue,
of which $20,000 was sold on
July 5, as stated in V. 90, p. 229.
Dublin, Laurens County, Ga.—Bonds Voted.—An election
held Dec. 6 resulted in favor of a proposition to issue
$30,000
5% 29-year light, water and street-improvement bonds.
The vote
was
311 “for” to 4
“against.”
Dubois County (P. O. Jasper), Ind.—Bond Offering.—
Proposals will be received until 1 p. m. Dec. 24 by Michael
A. Sweeney,
house bonds.
County Auditor, for $8,000 4%
coupon court¬
Denomination $100.
Date Deo. 15 1910.
Interest semi-annually at the
Maturity $200 each six months from June 15
1911 to Dec. 15 1930 inclusive.
Bonds are exempt from all taxes.
Bid
to be made on blank form furnished by the
County Auditor and be accom¬
County Treasurer’s office.
Cecil County (P. O. Elkton), Md.—Bond
to
[VOL.
panied by a certified check on any bank in Dubois County for 3 % of bonds
bid for, made payable to the Board of County Commissioners.
Dubuque,
Dec. 10
Dubuque
County, Iowa.—Bond Sale.—On
4)4% 15-year judgment bonds
& Co. of Chicago at 103.51 and
issue of $49,000
was awarded to
Farson, Son
acrued interest.
an
Denomination $500.
Date Dec. 10 1910.
City Treasurer’s office.
Interest semi-annually at the
Durand, Shiawassee County, Mich.—Bond Sale.—The
$12,000 2-13-year (serial) water-works and light-plantextension bonds offered on Dec. 5 (V. 91, p. 1527) were
awarded on Dec. 12 to N. W. Halsey & Co. of
Chicago at
101.30 for 4)4s.
Other bids received were as follows:
Security Tr. Co., Det
*$12,165 00 Ulen & Co., Chicago
$12,077
Detroit Trust Co., Detroit 12,136 00 Farson, Son & Co., Chic.. 12,062
H. W. Noble & Co., Det.. 12,12100 C. H. Coffin, Chicago
12,006
W. E. Moss & Co., Detroit 12,110 00 A. B. Leach & Co., Chlc_. 12,000
*
50
50
00
00
Less collection charge for Interest and principal.
Date Dec. 1 1910.
Denomination $1,000.
Earlville, Lasalle County, Ill.—Bonds Proposed.—We
are
informed that this city will be on the market some time in
June 1911 with an issue of $10,000 library bonds.
East Orange, Essex County, N. J.—Bond
Dec. 12 the $220,000 4)4% 40-year coupon (with
Sale.—On
privilege of
registration) series “V” school bonds, described in V. 91,
p. 1527, were sold to Morgan, Livermore & Co. and O’Con¬
nor & Kahler, both of New York City, at their
joint bid of
105.30—a basis of about 4.225%.
The other bidders were:
R. M. Grant & Co. and
E. H. RolUns&Sons, N. Y. 104.08
Estabrook & Co., New York. 102.40
J. S. Rlppel, Newark
102.21
Blodget & Co., New York._104.016 S. A. Kean
102.20
N. W. Harris & Co., N. Y...103.898 A. B. Leach & Co., N. Y
101.881
Kountze Bros., New York_.103.392
In addition to his above bid, J. S. Rlppel also submitted an offer of
102.89 for $50,000 bonds.
East Youngstown, Mahoning County,
We have just been advised that $5,000
Ohio.—Bond Sale.—
6% 1-5-year (serial)
city-building and site-purchase bonds were sold on May 20
to Althia J. McVey at par.
These bonds were offered (V. 91,
p. 926), but not sold, on April 11.
Essex County, Mass.—Note Sale.—On Dec. 12 the $128,000 (3 issues) bridge and $10,000 court-house notes described
in V. 91, p. 1586, were awarded to N. W. Harris & Co. of
Boston at 3.50% discount.
The following bids were re¬
ceived:
Discount.
Discount.
N. W. Harris & Co.,
Boston..3.50% Cape Ann Nat. Bk., Boston.a3.64%
City Nat. Bank, Boston
3.5575% Naumkeag Trust Co., Salem.b3.66%
F. S. Moseley & Co., Boston..3.59% Estabrook & Co., Boston—x3.74%
a
$5 50 premium,
b And $3 premium,
x
Arid $1 premium.
The bridge notes are due April 3 1911 and the court-house note matures
June 1 1911.
Essex County (P. O. Newark), N. J.—Bond Sale.—The
$200,000 4% 40-year gold coupon hospital bonds offered
without success on Aug. 31 (V. 91, p. 742) have been sold.
Fall River, Bristol County, Mass.—Bond Sale.—On
Dec. 14 the $100,000 4% 10-year municipal bonds mentioned
in Y. 91, p. 1586, were awarded to F. S. Moseley & Co. of
Boston at 104.025.
Denomination $1,000 or.any
terest semi-annual.
multiple thereof.
Date Dec. 1 1910.
In¬
Falls
City, Polk County, Ore.—Bonds Voted.—Reports
a charter amendment providing for the issuance
$30,000 water-system bonds carried by a vote of 139 to
state that
of
30 at
an
election held Dec. 5.
Fernbank, Hamilton County, Ohio.—Bonds Authorized.—
An ordinance has been passed providing for the issuance of
the $20,000 4)4% 20-year water-pipe-laying bonds voted
(V. 91, p. 1343) on Nov.
Date Dec. 1 1910.
Interest
8 1910. Denomination $500.
semi-annual,
Forest City, Rutherford County, No. Caro.—Bond Sale.—
During the spring of 1910 the $25,000 5% 30-year water and
light bonds offered without success on Aug. 31 1909 (V. 90,
Deo. 17
THE CHRONICLE
1910.]
124), were purchased, we are just advised, by the J. B.
McCrary Co. of Atlanta at par. Denomination $1,000.
Bond Election.—An election will be held Jan. 10 1911 to
on the question of issuing $500,000 434%
20-30-year
d.
Date Jan. 1 1910.
Interest semi-annual.
1661
vote
(optional) viaduct bonds.
Port Worth, Tex.—Bond Sale.—This city recently awarded
Howell School District (P. O. Howell), Colfax County,
$50,000 434% 20-40-year (optional) high-school-building Neb.—Bond Offering.—Proposals will be received until 12
bonds to the Commerce Trust Co. of Kansas City, Mo.
1911 for the $21,000 school-building bonds re¬
m. Jan. 1
cently
voted
(V. 91, p. 1277). This date falls on Sunday,
Franklin, Williamson County, Tenn —Bond Sale.—The
$35,000 coupon sewer-extension bonds, bids for which were but is so given by the Secretary of Board of Education.
Jamestown School District (P. O. Jamestown), Chautau¬
rejected on Feb- 14 (V. 90, p. 574), have been sold to J. W.
Worthington of Sheffield, Ala., at par for 434s.
qua County, N. Y.—Bonds Not to Be Offered at Present.—We
Frederic, Polk County, Wis.—Bid Rejected.—The only bid are advised that the $25,000 school-building-completion and
received on Dec. 5 for the $2,000 6% coupon water-works addition bonds voted on Sept. 27 (V. 91, p. 897) will not be
bonds offered on that day (V. 91, p. 1527) was one of 95 offered at this time.jjf
submitted by H. T. Holtz & Co. of Chicago.
This offer was
Johnstown, Weld County, Colo.—Bond Election Proposed.
—We are advised that the election to vote on the question
rejected.
Galveston, Galveston County, Tex.—Bond Sale —We are of issuing the $12,000 water bonds (V. 91, p. 897) will prob¬
advised that the $225,000 5% sea-wall-improvement bonds ably be held early in the spring.
and the $50,000 434% grading, filling and drainage bonds,
Jones County (P. O. Anamosa), Iowa.—Bond Sale.—On
bids for which were rejected on April 14 (V. 90,fp. 1191), Dec. 6
$30,000 5% bonds were awarded to the Schoonover
have been sold to contractors in payment for work done.
Trust Co. of Anamosa at par and accrued interest.
Glendale, Hamilton County, Ohio.—Bonds Defeated.—The
Kanawha School District (P. O. Kanawha), Hancock
election held Nov. 29 resulted in the defeat of the question
County, Iowa.—Price Paid for Bonds.—The price paid for
of issuing the $16,000 water-works bonds mentioned in the
$1,200 5% refunding bonds recently awarded to Geo. M.
V. 91, p. 1343.
Bechtel & Co. of Davenport (V. 91, p. 1587) was par.
De¬
Glen Rose Independent School District, Tex.—Bonds nomination $400.
Date Nov. 1 1910.
Interest semi-annual.
Registered.—On Dec. 5 $5,000 5% 15-20-year (optional)
Kansas City, Kans.—Bond Sale.—On Dec. 1 the Thos. J.
bonds were registered by the State Comptroller.
Bolger
Co. of Chicago was awarded $70,048 5% streetGrand Forks, Grand Forks County, No. Dak.—Bonds Not
improvement bonds at par and accrued interest. Denomina¬
to be Offered at Present—We are informed that the $40,000
tion $500.
Date Nov. 15 1910.
Interest semi-annual.
5% city-hall-construction bonds voted on Sept. 15 (V. 91,
Kansas City, Mo.—Bond Sale.—Reports state that the
p. 819) “will not be sold before next summer.”
$500,000 4% and the $250,000 (three issues) 434% 20-year
Grand Rapids, Wood County, Wis.—Bonds Not Sold.—No bonds described in V.
91, p. 1468, were sold on Dec. 15 to
award has yet been made of the three issues of 4% coupon the Pioneer Trust Co. of Kansas
City, Mo., at 100.44.
bonds, aggregating $65,000, described in V. 89, p. 1100.
Kearney, Buffalo County, Neb.—Bond Offering.—This
Hammond, Tangipahoa Parish, La.—Bonds Proposed.— city is offering for sale the $125,000 4 34% 5-20-year (optional)
According to reports, there is talk of issuing $100,000 im¬ water-works bonds which failed to sell (V. 91, p. 743) on
provement bonds.
July 22.
Hanock County (P. O. Sparta), Ga.—Bonds Defeated.—
Kennett School District (P. O. Kennett), Dunklin County,
The voters of this county at a recent election failed to ap¬ Mo.—Bonds
Defeated.—On Nov. 8 this district defeated a
prove a proposition providing for the issuance of the $60,000 proposition to issue $23,000 school-building bonds.
road bonds mentioned in V. 90, p. 1694.
Key West, Monroe Couney, Fla.—Bonds Not Yet Sold.—
Hardin County (P. O. Kenton), Ohio.—Bond Sale.—The We
are advised under date of Dec. 12 that the $192,000 5%
First National Bank of Cleveland was the successful bidder,
30-year
coupon
tax-exempt street-improvement bonds
it is stated, on Dec. 12 for the $16,405 5% pike-construction
offered without success on Oct. 11 (V. 91, p. 1278) have not
bonds described in V. 91, p. 1586.
The price paid by the yet been disposed of.f
bank was 101.786.
Kiowa, Pittsburgh County, Okla.—Bonds Not Sold.—No
Hartington, Cedar County, Neb.—Bond Sale.—We are award has yet been made of the $18,000 6% 25-year coupon
advised, under date of Dec. 12, that the $10,000 5% 5-19- water and light-system bonds described in V. 91, p. 743.
year (optional) sewer bonds offered on March 25 and de¬
Lake Borgne Levee District, La.—Bond Offering.—Pro¬
scribed in V. 90, p. 798, have been awarded to the People’s
posals
will be received until 12 m. Dec. 19 by Fernando
Savings Bank in Hartington. Date Oct. 1 1910.
Estopinal, Secretary, Room 602, Godchaux Building, New
Harvard School District (P. O. Harvard), Clay County,
Orleans, for $7,000 5% 40-50-year levee bonds.
Neb.—Litigation.—We are advised, under date of Dec. 14,
Lake Preston, Kingsbury [County, So. Dak.—Bond Sale.
that the $20,000 5% 5-20-year (optional) high-school¬
—On Dec. 5 $5,000 5% coupon water bonds were awarded
building-addition bonds, bids for which were rejected on to the Bank of Lake Preston in Lake Preston at 100.30. A
June 15 (V. 90, p. 1627), are in litigation at the present time,
but that a decision is expected very shortly from the Supreme bid was also received from Coffin & Crawford of Chicago at
100.25. ^
Court.
•
Helena School District No. 1 (P. O. Helena), Lewis and
Clark County, Mont,—Bonds Not Yet Sold.—The Clerk of
the Board of Education advises us that the $50,000 434%
10-20-year (optional) coupon school bonds offered without
on Aug. 20
(V. 91, p. 1198) have not yet been
disposed of. He further states that the bonds will probably
be re-offered for sale early in 1911.
Hemingsford, Boxbutte County, Neb.—Bond Sale.—The
village authorities have just informed us that on July 1 the
$10,000 6% bonds offered without success on Oct. 19 1909
(V. 90, p. 125) were awarded to Katz, Craig Co. at 105.
success
Denomination $500.
Date Oct. 1 1909.
turity 1938, subject to call after 1914.
Interest semi-annual.
Ma¬
High Bridge, Hunterdon County, N. J.—Bonds Awarded
in Part.—Of the $20,000 bonds (the unsold
portion of the
issue of $35,000 4% 35-year coupon water-works-extension
bonds mentioned in V. 91, p. 108), $13,500 have been dis¬
posed of to local investors at par and accrued interest.
Highland Park School District (P. O. Highland Park),
Wayne County, Mich.—Bond Election.—We see it reported
that a proposition to issue $45,000 school-building and sitepurchase bonds will be voted upon Dec. 22.
Hillsboro, Washington County, Ore.—Bond Sale.—On
Oct. 20 an issue of $16,000 6% refunding bonds was awarded
to the Hillsboro Commercial Bank in Hillsboro at
par.
Denomination $500. Interest April 1 and Oct. 1. Maturity 1913.
Homellsville School District No. 7 (P. O. Homell), N. Y.—
Bond Sale.—On Nov. 1 the
of the issue of $30,000
p.
478)
$25,000 bonds (the unsold portion
bonds mentioned in V. 91,
sold to the Bumpus-Stevens Co. of Detroit
4%
were
at par.
coupon
Houston, Harris County, Tex.—Bond Offering.—Propos¬
als will be received until 12 m. Jan. 9 1911 for the
$100,000
4H% street-paving bonds registered by the State Comp¬
troller (V. 91, p. 1468) on Nov. 12.
xT«Pa4e
26
Interest semi-annually at the Union Trust Co. 1
New York City.
Maturity 30 years, subject to call after 20 years. Certlflt
£**5°^
933
%
Houston
bank
for 1% of bonds, payable to H. B. Rice, Mayo
Is required.
Dan C. Smith Jr. is
City Secretary.
Denomination $500.
Interest payable In Lake Preston. Maturity720
subject to call after 10 years. Bonded debt, including this issue,
years,
$17,000.
No floating debt.
Assessed valuation, $200,000.
Lakeside Special School District (P. O. Lake Village),
Chicot County, Ark.—Bond Sale.—The $25,000 6% school¬
building-erection and addition bonds mentioned in V. 91,
p. 541, were awarded in October to the Wm. R. Compton
Co. of St. Louis at par and accrued interest.
Denomination $500.
•
•
Date Sept. 1 1910.
Interest semi-annual.
Lakewood School District (P. O. Lakewood),
Cuyahoga
County, Ohio.—Bond Sale.—On Dec. 9 the $150,000 434%
school-building and improvement bonds described in V. 91,
p. 1528, were awarded to the Cleveland Trust Co. of Cleve¬
land, Field, Longstreth & Co. of Cincinnati and Stacy &
Braun of Toledo at their joint bid of 104.743 and accrued
interest.^ The following bids were also received:
C. E. Denison
&'Co., Cle.$156,856 75 Otis & Hough, Cleve.,!
Hayden, Miller&Co., Cle. 156,633 00 Seasongood&Mayer.Clnj$155,555 00
Tillotson&WolcottCo.,Cle 156,405 00 E. H. Rollins & Sons, Ch 155,040 00
Maturity $5,000 yearly on Oct. 1 from 1913 to 1942 inclusive.
•
•
•
•
•
.
PLamont, Grant County, Okla.—Bonds Voted.—It is stated
that an election held in this place recently resulted in favor
of a proposition providing for the issuance of $17,000 waterworks-plant-construction bonds.
^ Lee County (P. O.! Sanford),f No.rCaro.—Bonds Not Yet
Sold.—No sale has yet been made of the $15,000 5% cou¬
pon Jonesboro Township road-construction bonds offered
without success (V. 90, p. 1254) on April 18.
Lewistown, Fulton County, Ill.—Bonds Defeated.—On
Nov. 29 the proposition to issue $8,500 434% water-workssystem-improvement bonds mentioned in V. 91, p. 1344,
was defeated by a vote of 85 “for” to 269 “against.”
Liberty Township School District (P. O. Powell), Dela¬
County, Ohio.—Bond Sale.—On Dec. 12 the $20,000
434% bonds described in V. 91, p. 1468, were awarded to
Hayden, Miller & Co. of Cleveland at 101.31 and accrued
interest.
A bid of $20,262 25 was also received from\C. E.
Denison & Co. of Cleveland, and one of $20,232_from
Seasongood & MayerSof Cincinnati.^
ware
Maturity $2,000 yearly on June 1 from 1913 to 1922 inclusive.
1662
THE
CHRONICLE
Lincoln
James H.
County (P. O. Shoshone), Idaho.—Bond Sale.—
Causey & Co. of Denver purchased $6,000 funding
and $1,000 site-purchase 6% 10-20-year (optional) bonds on
Nov. 30 at par and interest.
Denomination $1,000. Date
Nov. 1 1910.
Interest Jan. and July.
Lincoln County (P. O. Brookhaven), Miss.—Bond Election.
Reports state that an election will be held Dec. 31 to vote on
the issuance of bonds for Road District No. 1.
See V. 91,
1401.
Livingston School District, Merced County, Cal.—Price
Paid for Bonds.—The price paid for the $10,000 5% 1-10-year
(serial) school-house bonds awarded on Nov. 9 to E. H.
Rollins & Sons of San Francisco (V. 91, p. 1528) was 100.53.
Denomination $1,000.
Date Dec. 1 1910. Interest annual.
Lockland, Hamilton County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Dec. 27 by C. E. Troy,
Village Clerk, for the $10,000 43^% Wayne Avenue improve¬
ment (village’s portion) bonds mentioned in V. 91, p. 1401.
p.
00
70
30
99
00
Lordsburg, Los Angeles County, Cal.—Bonds Voted.—
A vote of 101 “for” to 10 “against” was polled at an election
held Nov. 30 to vote on proposition to issue $36,000 5%
40-year municipal water-works-system bonds.
Louisville, Ky.—Temporary Loan.—Arrangements have
with
various banks
for
a
temporary loan of
$225,000.
Lynn, Essex County, Mass.—Bids.—The following bids
received on Dec. 6 for the $1,000 municipal-loan and
$8,500 municipal-improvement 4% 10-year bonds awarded
to Perry, Coffin & Burr of Boston at 103.62 (V. 91, p. 1587):
were
Perry, Coffin & Burr
103.62
E.M. Farnsworth & Co
103.20
Blake Bros. & Co
Blodget <& Co
R. L. Day & Co
103.18
Geo. A. Femald & Co
I Estabrook & Co
103.0991 Adams
& Co
The above bidders are all of Boston.
Denominations $1,000 and $500.
Date Oct.
annual.
103.03
.102.27
1
1910.
Interest semi¬
Lyon Swamp Drainage District, Pender and Bladen
Counties, No. Car.=—Bond Offering.—Proposals will be re¬
ceived until Dec. 29 (not Dec. 22 as at first reported) by
B. F. Keith, Chairman (P. O. Wilmington), for $45,000 6%
bonds.
Interest annually in January at Burgaw.
Principal payable in 10 equa
installments beginning 3 years from date of issue.
Madison, Morris County, N. J.—Bond Sale.—The $100,000
43^% registered sewer bonds offered on Dec. 12 and described
in V. 91, p. 1587, were awarded to the Madison Trust Co. of
Madison at 100.01.
A bid of par was also received from
W. F. Redmond.
Maturity Jan. 1 1941, subject to call after Jan. 1 1921.
part of an authorized issue of $125,000.
Date Nov. 1 1910.
required
Interest semi-annual.
Certi¬
.
Mayville, Dodge County, Wis.—No Action Yet Taken.—
Up to Dec. 9 no action had yet been taken looking towards
the issuance of the $10,000 bridge bonds voted (V. 91, p.
1278)
on
Oct. 25.
semi-annual.
received:
Seasongood & Mayer, Cin_$6,185 00 Vinton Bkg. Co., Vinton._$6,151
R. Kleyboltc Co., Inc.,Cin_ 6,165 00 Provident S.B.&Tr.Co.,Cin 6,143
First Nat. Bank, Lockland. 6,164 40 New First N. Bk., Colum__ 6,069
Weil, Roth & Co.. Cin
6,157 80 First Nat. Bank, Norwood. 6,019
6,152 75 Columbus Bk. &Sav.Co.,Cin. 6,000
Stacy & Braun, Toledo
made
Denomination $500.
fied check for $300 is
102.531
$6,000 4J/£% 10-year (village’s
portion) Wyoming Avenue improvement bonds described in
V. 91, p. 1344, were awarded to Seasongood & Mayer of
Cincinnati at 103.083 and accrued interest.
The following
been
Mars, Butler County, Pa.—Bond Offering.—Proposals will
7p.m. Dec. 22 by this borough for $4,000
43^% tax-exempt trunk-sewer bonds.
be received until
102.77
Bond Sale.—On Dec. 12 the
were
Dec. 31 in each of the years 1915, 1916 and 1917.
Official circular states
that no previous issues have ever been contested; Interest and principal of
all previous issues has always been promptly paid at maturity; also that
there is no controversy or litigation pending or threatened affecting the
corporate existence or the boundaries of said county or the title of its
present officials to their respective offices, or the validity of these bonds.
Bonded debt Dec. 2 1910, $50,000.
Assessed valuation $27,373,000.
Actual value (estimated) $36,000,000.
Frank E.fJenks Is County Clerk.
on
Memphis, Hall County, Tex.—Bond Sale.—The Commerce
Trust Co. of Kansas City, Mo., was recently awarded $20,000
6% 20-40-year (optional) sewer bonds. These securities
were offered (V. 91,
p. 54), but not sold, on July 15.
Menard County (P. O. Petersburg), Ill.—Bonds Voted.—
An election held Nov. 8 resulted in favor of the proposition
to issue the $30,000 almshouse bonds mentioned in V. 91
p. 1278.
Mendon, St. Joseph County, Mich.—Bonds Defeated.—
We are advised that the voters have defeated the proposi¬
tion to issue the $10,000 improvement bonds.
It was at
first reported by some of the newspapers that the proposition
had carried.
See V. 91, p. 1278.
Millbum, Essex County, N. J.—Bond Sale.—On Dec. 12
the $12,000 43^% 20-year gold coupon sewer bonds de¬
scribed in V. 91, p. 1587, were awarded to John D. Everitt &
Co. of New York City at 100.075 and accrued interest.
A
bid was also received from T. W. Stephens & Co. of New
York City of par and accrued interest.
Miller, Lake County, Ind.—Bond Sale.—The $12,000 5%
electric-light assessment bonds voted on July 8 (V. 91, p.
169) have been awarded, according to reports, to the South
Side Trust & Savings Bank in Gary at par.
Denomination
$1,000.
Missoula County School District No. 5, Mont.—Bonds Not
Sold.—No award has yet been made of $1,800 6% building
bonds, proposals for wThich were asked until Nov. 7. Interest
Denomination $500.
Date Nov. 15 1910.
Interest semi-annual.
Ma¬
turity Nov. 15 1920.
Certified check for 5% of bonds bid for, payable to
the Village Treasurer, is required.
Purchaser to pay accrued Interest.
bids
(VOL. LXXXXI.
These bonds
re
Madison, Lake County, So. Dak.—Bond Offering.—Pro¬
posals will be received until Jan. 5 1911 for $65,000 building
bonds authorized by a vote of 340 to 99 at an election held
Mobile, Ala.—Bond Sale.—On Nov. 29 an issue of $29,000
5% street bonds was awarded to the City Bank & Trust Co.
of Mobile at 100.10.
We are also advised that the $117,000 5% coupon publicworks bonds offered without success on Aug. 15 (V. 91,
898) have also been sold.
Montclair, Essex County, N. J.—Bonds Not Sold.—No
bids were received on Dec. 12 for the $66,000 4% 30-year
gold refunding bonds described in V. 91, p. 1587.
Montpelier School District (P. O. Montpelier), Williams
County, Ohio.—Bond Sale.—Tlii« district has sold $10,000
43^% bonds.
Mt. Vernon School District (P. O. Mt. Vernon), Knox
County, Ohio.—Bond Sale.—The $26,000 4% 5-20-year
(optional) coupon refunding bonds described in V. 91, p.
1528, were sold on Dec. 12 to Stacy & Braun of Toledo at
par and accrued interest.
Bids at par were also received
from Weil, Roth & Co. and Seasongood & Mayer, both of
p.
Dec. 6.
Cincinnati.
Madison, Dane County, Wis.—Bond Sale.—The $16,000
5% 8-year University Avenue bonds mentioned in V. 91,
p. 1278, have been disposed of over the counter to local
investors at par.
Date, “day of sale.”
Manning, Clarendon County, So. Caro.—Bonds Voted.—
Reports have it that an election held Dec. 6 resulted in favor
of a proposition to issue $5,000 refunding bonds.
The vote
Muskogee County (P. O. Muskogee), Okla.—Bond Sale.—
bonds was sold
Guaranty State
Bank, both of Muskogee, at their joint bid of 101.41 and
interest.
Denomination $1,000.
Date Dec. 5 1910. In¬
terest semi-annually at the Oklahoma fiscal agency in New
York City.
Napa County (P. O. Napa), Cal.—Bond Election.—Ac¬
cording to reports, an election will be held Feb. 15 1911 to
vote on the question of issuing $40,000 cou’nty-infirmary-
was
54 “for” to 22
“against.”
Marion, Grant County, Ind.—Bond Offering.—According
to reports, proposals will be received until Dec. 20 for
$50,000
4% electric-light-plant-construction bonds.
Denomination $500.
Date Jan. 15 1911.
Interest semi-annually at
the Marion State Bank In Marion.
Certified check for $1,000 Is required.
Marion, Smyth County, Va.—Bonds Awarded in Part.—
5% registered water-improvement bonds
91, p. 292, $500 have been disposed of at
private sale to the Royal Arcanum at par and accrued in¬
Of the $12,000
mentioned in V.
terest.
Marianna, Jackson County, Fla.—Bond Sale.—The Town
under date of Dec. 12, that the $10,000 5%
20-year water-works-extension and town-improvement bonds
which this town has been offering for sale (V. 90, p. 799) have
€lerk advises us,
been awarded to the State School Board of Florida at
par.
Marlboro Graded School District No. 10 (P. O. Bennetts-
ville), Marlboro County, So. Caro.—Bond Sale.—A letter
received by us on Dec. 12 stated that the $25,000
20-year
coupon school bonds offered without success on May 2 (V. 90,
p. 1255) were sold some months ago to the Bumpus-Stevens
Co. of Detroit.
Marquette County (P. O. Marquette), Mich.—Rond Offer¬
ing.—Proposals will be received until 11 a. m. Dec. 20 for
$15,000 4% tuberculosis-hospital bonds.
Authority Act 41, Public Acts of 1909; also vote of 5,090 to 2,366 at
election held April 4 1910.
Denomination $1,000.
Date Dec. 31 1910.
Interest semi-annually at the County Treasurer's office.
Maturity $5,000
On Nov. 30 an issue of $140,000 5% bridge
to the Commercial National Bank and the
erection bonds.
Newark, Licking County, Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Dec. 19 by Wm. F. Wulfhoop, City Auditor, for the following 5% assessment bonds:
1.850 Eighth St. paving bonds.
Denomination three bonds of $500 each
and one of $350.
Maturity $500 yearly on Jan. 1 from 1916
to 1918 inclusive and $350 Jan. 1 1919.
6,550 South Fourth Street paving bonds.
Denomination six bonds of
Maturity $2,000 on Jan. 1 in each
$1,000 each and one of $550.
of the years 1916, 1917 and 1918 and $550 on Jan. 1 1919.
15 950 North Fourth St. paving bonds.
Denomination fifteen bonds of
$1,000 each and one of $950.
Maturity $4,000 on Jan. 1 in each of
the years 1916, 1917 and 1918 and $3,950 on Jan. 1 1919.
1 765 Hudson Ave. sewer bonds.
Denomination two bonds of $500 each
and one of $765.
Maturity $500 on Jan. 1 In each of the years
1913 to 1914 and $765 Jan. 1 1915.
Denomination two bonds of $500 each
1 470 Moull St. sewer bonds.
and one of $470.
Maturity $500 on Jan. 1 in each of the years
1912 to 1913 and $470 Jan. 1 1914.
4 225 Hudson Ave. paving bonds.
Denomination eight bonds of $500
each and one of $225.
Maturity $1,000 on Jan. 1 in each of the
years 1916, 1917 and 1918 and $125 on Jan. 1 1919.
3,950 Buena Vista St. paving bonds.
Denomination three bonds of
$1,000 each and one of $950.
Denomination $500, except
4.850 North Williams St. paving bonds.
one bond of $850.
Maturity on Jan. 1 as follows: $1,000 in each
’
’
of the years
1916, 1917 and 1918 and $1,850 in 1919.
New Britain, Hartford County, Conn.—Bond Sale.—On
Dec. 14 an issue of $95,000 4% coupon (with privilege of
registration) school bonds were awarded to E. H. Rollins &
Sons of Boston at 98.79 and accrued interest.
were among the bids received:
The following
__98.188 Ft. L. Day & Co
98.182 Merrill, Oldham & Co
98.15 Perry, Coffin & Burr
98.047 Blake Bros. & Co
of Boston.
N. W. Harris & Co
N. W. Halsey & Co
Estabrook & Co
Blodget & Co
All the above bidders are
Denomination $1,000.
Date
the New Britain National Bank
on
Aug. 1 from 1915 to
98.039
97.819
97.782
97.78
Interest semi-annually at
Maturity $15,000 yearly
1919 inclusive and $20,000 Aug. 1 1920.
Aug. 1 1910.
In New Britain.
County, Ala.—Bonds Authorized.—
to have authorized the issuance of
$12,800 concrete-sidewalk bonds.
Niles School District (P. O. Niles), Berrien County, Mich.
—Bonds Not to Be Offered at Present.—The $35,000 4J^%
additional school-building bonds voted on Sept. 19 (V. 91,
p. 899) will not be on the market, we are advised, before next
April or May.
Normal Heights School District, San Diego County, Cal.—
Bonds Authorized.—According to reports, the Board of
Supervisors has authorized the issuance of $4,000 14-year
school-building bonds in denominations of $400 each.
North Fond Du Lac, Fond Du Lac County, Wis.—Bond
Election.—The question of issuing $30,000 bonds to purchase
the plant of the Sand Rock Water Co. will be voted upon at
the next spring election.
See V. 91, p. 899.
North Sterling Irrigation District (P. O. Sterling), Colo.—
Bond Offering.—Proposals will be received until 2. p. m.
Jan. 5 1911 by the Board of Directors, John E. Fetzer,
Secretary, for $60,000 irrigation bonds. Authority, Act of
General Assembly approved May 3 1905 and Acts amenda¬
tory thereof.
North Yakima School District (P. O. North Yakima),
Yakima County, Wash.—Bonds Voted.—It is stated that
propositions to issue bonds amounting to $75,000 were
favorably voted upon Dec. 3.
Norwood School District (P. O. Norwood), Hamilton
County, Ohio.—Bond Offering.—Proposals will be received
until 12 m. Dec. 29 by A. C. Morgan, Clerk Board of Educa¬
tion, for $75,000 4% building and site-purchasing bonds.
New Decatur, Morgan
The City Council is said
Authority, Sections 3991 and 3992, Revised Statutes.
Denomination
$500.
Interest semi-annually at the Norwood Na¬
Date Jan. 1 1911.
tional Bank In Norwood.
Maturity $2,500 yearly on Jan. 1 from 1921 to
1950 Inclusive.
Certified check for 5% of bid, payable to the Clerk Board
of Education, Is required.
Purchaser to pay accrued Interest.
Okanogan, Okanogan County, Wash.—Bond Sale.—The
$6,000 6% water-works bonds mentioned in V. 91, p. 899,
were sold on Oct. 1 to the State of Washington at par for
1-20-year (optional) bonds. Denomination $1,000. Date
Nov. 15 1910.
Interest annual.
Oklahoma County (P. O. Oklahoma City), Okla.—No
Bonds Voted.—We are advised that the election held recently
was to vote on the county's portion of the cost of constructing
good roads and not on the question of issuing bonds (V. 91,
p. 1529), as at first reported.
Olyphant, Lackawanna County, Pa.—Bonds Authorized.—
Reports state that resolutions have been adopted providing
for the issuance of $15 000 Fourth Ward school bonds.
Omaha, Neb.—Bonds Not to Be Re-offered at Present.—The
Chairman of the Water Board writes us that the$6,500,000
4% 30-year coupon water-plant-purchase bonds offered with¬
out success on Oct. 5 (V. 91, p. 979), will not be placed on
the market again for some time.
Orange County (P. O. Orlando), Fla.—Bonds Defeated.—
(not Dec. 4, as was first reported—
in the defeat of a proposition to issue
$1,000,000 4^% 50-year road-building bonds.
Overpeck Township School District (P. O. Ridgefield
Park), N. J.—Bond Sale.—N. W. Halsey & Co. of New
York City recently purchased $7,000 5% school bonds.
An election held Dec. 7
V. 91, p. 1279) resulted
Denomination $1,000.
Date Dec. 1
the First National Bank of Ridgefield.
and $4,000 on Dec. 1 1930.
Interest semi-annually at
Maturity $3,000 on Dec. 1 1929
1910.
Pensacola, Escambia County, Fla.—Bond Offering.—
Proposals will be received until 12 m. Jan. 16 by Board of
Bond Trustees, John A. Merritt, Chairman, for the $250,000
4^% gold coupon improvement bonds mentioned in
V. 91, p. 418.
Dvn.nrinat^n ?1 000.
Date Jan. 1 1911.
Interest semi-annually at
the United States Mortgage & Trust Co. In New York.
Maturity Jan. 1
1941.
Bids must be made on blank forms furnished by the city and be
bank In Pensacola for 2% of bonds
the bonds will be certified as to
genuineness by the United States Mortgage & Trust Co. of New York, and
their legality approved by Dillon, Thomson & Clay, attorneys, of New
York, a copy of whose opinion will be furnished to the purchaser.
accompanied by
for.
a certified check on a
Official circular states that
Pittsburgh, Pa.—Bond Ordinances Introduced In Council.—
On Dec. 5 ordinances providing for the issuance of $6,028,000
of the $10,305,000 bonds voted Nov. 8 (V. 91, p. 1344) were
introduced in Common Council, where they were referred to
the Finance Committee, which approved the measures. It is
for first reading in
Common Councils on Monday night, Dec. 12.
Pittsville, Wood Oounty, Wis.—Bond Offering.—Pro¬
posals will be received until 8 p. m. Dec. 22 by Hart Beyer,
City Clerk, for $4,000 4% coupon bridge bonds.
expected that the ordinances will
come up
Authority, Wisconsin Statutes 1898. Sections 943 and 944. Denomi¬
nation $500.
Date Dec. 31 1910.
Interest Jan. 1 and July 1 at the Pitts¬
ville State Bank.
Maturity $500 on Jan. 31 In each odd year from 1915
1929
Inclusive.
to
Certified check for $200, payable to the City Clerk, is
required. No bonded debt at present. Assessed valuation In 1910,
$139,000.
Plattsburgh, Olinton Oounty, N. Y.—Bonds Awarded in
ft.—Of the $15,000 bonds (the unsold portion of the issue
4% 1-20-year (serial) water bonds mentioned in V. 91
1279), $5,000 have been disposed of.
of
p.
Portage, Wood County, Ohio.—Bond Sale.—This village
Dec. 10 awarded an issue of $1,500 6% refunding bonds
to A. Ensminger of Portage at 102 and accrued interest.
on
Denomination $500.
Date Dec. 1 1910.
Interest March and
ber.
Maturity $500 each six months from March 1 1912 to March 1
Septem¬
1913.
Portland Water District (P. O. Portland), Me.—Note Sale.
—An issue of $100,000 4% notes offered on Dec. 10 was
awarded to the Fidelity Trust Co. of Portland at 100.025.
Maturity March 15 1911.
Port of Portland (P. O. Portland), Ore.—Bond Offering.—
Local papers report that proposals will be received until
Jan. 12 1911 for $60,000 6% bonds to pay part of the cost
of the tug Oneonta.
These securities are part of the issue
of $500,000 bonds voted at an election held June 1 1908.
(V. 87, p. 1491.) A portion of this issue has already been
disposed of. See “State and City Supplement” for Nov. 26
1910.
County (P. O. Tecumseh), Okla.—Bond
Offering.—Proposals will be rceeived until 10 a. m. Dec. 31
by J. L. Cotton, County Clerk, for $213,474 16 6% coupon
Little River Drainage District No. 1 bonds.
Pottawatomie
Denomination $500.
Interest Jan. 1 and July 1.
yearly on July 1 from 1914 to 1923 inclusive.
Maturity $21,347 42
Quanah Independent School District (P. O.
Hardeman County, Tex.—Bonds Not to be Offered
—No award was made on Dec. 1 of the $15,000
Quanah),
at Present.
5% 20-40-
(optional) school-building bonds offered on that day,
owing to the fact that the Attorney-General ruled that the
bonds should not be sold until Jan. 1 1911.
These securities
were voted (V. 91, p. 746) on August 23.
Ralston, Okla.—Bond Sale.—The $25,000 6% 10-25-year
(optional) water and light bonds offered on Feb. 7 (V. 90,
p. 392) have been awarded to C. A. Reese at par.
Rankin County (P. O. Brandon), Miss.—Bonds Not Sold.—
year
Bond Offering.—The $30,000 5% registered road-construction
bonds offered on Nov. 17 and described in V. 91, p. 822, were
not sold.
Proposals for these bonds are now asked for until
Jan. 2 1911.
Maturity part each six months.
Reading (P. O. Cincinnati), Ohio.—Bond Offering.—Pro¬
posals will be received until 12 m. Jan. 9 1911 by W. F. Klopmeyer, Village Clerk, for the $2,125 5% street-improvement
(village’s portion) bonds mentioned in V. 91, p. 1529.
Authority, Sections 3820 and 3821, General Code.
Interest annually at the Reading Bank.
Purchaser to pay accrued interest.
Date Dec. 10 1910.
Maturity part yearly for 10 years.
Rensselaer County (P. O. Troy), N. Y.—Bonds Not Sold.—
No bids were received on Dec. 15, according to dispatches,
for the $95,000 4% registered jail bonds described in V. 91,
p.
1529.
County, Wis.—Bond Offering.
—Proposals will be received up to Jan. 14 1911 for
$25,000 4% city-hall bonds dated Feb. 1 1911. These bonds
were offered (V. 91, p. 900) on Nov. 15.
The only bid re¬
ceived on that day, however, was rejected.
Ridgefield Park, Bergen County, N. J.—Bonds Proposed.—
Reports state that the trustees have decided to issue $50,000
funding street-improvement and park bonds.
Rome, Ga.—Bonds Voted.—Papers state that the propo¬
sitions to issue the $100,000 school, $50,000 street, $50,000
sewer and $75,000 water-works bonds mentioned in V. 91,
p. 900, were favorably voted upon Dec. 6.
Roseau, Roseau County, Minn.—Bond Offering.—Pro¬
posals will be received until 7 p. m. Dec. 27 for $11,000 fund¬
ing bonds at not exceeding 6% interest.
Richland Centre, Richland
Authority, vote of 57 to 13 at election held Dec. 6.
Maturity Dec. 6
1925.
St.
Parmer County Common School District No. 5, Texas.—
Bonds Registered.—The State Comptroller on Dec. 5 regis¬
tered $12,000 5% 20-40-year (optional) bonds.
bid
1663
THE CHRONICLE
Dec. 17 1910.
John, Stafford County, Kan.—Bond Sale.—The Com¬
merce
Trust Co. of Kansas
City, Mo., recently purchased
$11,500 6% 10-20-year (optional) funding bonds.
St. Joseph, Berrien County, Mich.—Bond Sale.—It is
stated that $20,000 4J^% coupon bridge bonds were sold on
Dec. 7 to H. W. Noble & Co. of Detroit at 103.175.
It is
further stated that these securities take the place of the
$20,000 bonds disposed of on Oct. 19 to the Harris Trust
& Savings Bank of Chicago (V. 91, p. 1200), which sale was
never
consummated.
Joseph, Buchanan County, Mo.—Bond Election Pro¬
posed.—There is talk of calling an election to vote on the
question of issuing $250,000 street-lighting-improvement
St.
bonds.
St. Matthews, Calhoun County, So. Caro.—Bonds De¬
feated.—The question of issuing an additional $6,000 bonds
as a supplement to a bond issue of $15,000 voted some time
ago for a new school building, was defeated at a meeting held
Nov. 24.
San Patricio County (P. O. Sinton), Tex.—Bonds to Be
Offered Shortly.—The County Treasurer writes us, under
date of Dec. 2, that it is likely that $50,000 of the $100,000
bridge and road-improvement bonds voted on Sept. 22
(V. 91, p. 900) will be placed on the market within sixty
days.
Seattle, Wash.—Bond Election Proposed.^—Local papers
state that a petition has been presented to the City Comp¬
troller, requesting that a proposition to issue $500,000 bonds
to purchase a site for the Museum of Arts and Sciences, be
voted upon Feb. 21.
H
_A
wA
1664
THE CHRONICLE
Sedgwick County (P. O. Wichita), Kan.—Bond Sale.—
an issue of
$5,000 5% 10-year St. Lawrence Ave¬
nue
road-improvement bonds was awarded to J. P. Dillon
On Oct. 29
at par and accrued interest.
Denomination
Oct. 1 1910.
Interest semi-annual.
$1,000.
Date
Sedgwick Irrigation District, Logan and Sedgwick Coun¬
ties, Colo.—Bond Offering.—Proposals will be received until
10 a. m. Dec. 27 by the Board of
Directors, S. H. Carlson,
Secretary (P. O. Julesburg), for the $670,000 bonds re¬
cently
voted (V. 91, p. 1345). Official advertisement
states that none of said bonds shall be sold for less than
95%
of their face value.
Seneca County (P. O. Waterloo), N. Y.—Bond Sale.—On
Dec. 10 the $17,780 1-8-year
(serial) good-roads bonds de¬
scribed in V. 91, p. 1588, were sold to Parkinson & Burr of
New York City at 100.1413 for
4%s. A bid of $17,785 for
4%s was also received from the Seneca Falls Savings Bank
of Seneca Falls, while
Farson, Son & Co. of New York City
offered 100.205 for 5 per cents.
Silverton, Hamilton County, Ohio.—Bond Offering.—Fur¬
ther details are at hand relative to the
offering bn Dec. 31 of
the $8,500 4J^%
coupon water-works bonds mentioned in
V. 91, p. 1470.
Proposals will be received until 12 m. on
that day by A. A. Sprague,
Village Clerk.
Authority, Sections 2835, 2835b, 2836 and 2837 of the Revised Statutes.
Denomination $500.
Date Deo. 10 1910.
Interest semi-annually at the
First National Bank in Norwood.
Maturity Dec. 10, 1935.
Bonds are
■exempt from all taxes.
Certified check for 5% of bonds bid for,
payable
to the Village Treasurer, is
required.
Purchaser to pay accrued interest.
Net bonded debt at present $5,800.
Assessed valuation 1910, $184,560.
Snohomish
lVOL.
LXXXXl
1,520 20 Sewer No. 1,086 construction bonds.
Denomination $400, ex¬
cept one bond of $320 20.
Date Dec. 2 1910.
Maturity one
bond each six months from March 2 1912 to Sept. 2 1913
Inclusive.
5,132 95 Valentine St. Improvement bonds.
Denomination $520, except
one bond of $452 95.
Date Oct. 16 1910.
Maturity one bond
each six months from March 16 1912 to Sept. 16 1916
inclusive.
4,261 25 Erie St. Improvement bonds.
Denomination $430, except one
bond of $391 25.
Date Nov 18 1910.
one bond each
Maturity
six months from March 14 1912 to
Sept. 14 1916 inclusive.
5,066 81 Hoag St. No. 1 Improvement bonds.
Denomination $510, ex¬
cept one bond of $476 81.
Date Oct. 8 1910.
Maturity one
bond each six months from March 8 1912 to
Sept. 8 1916
inclusive.
3,027 48 Sewer No, 1097 construction bonds.
Denomination $510,
except one bond of $477 48. Date Nov. 6 1910. Maturity one
bond each six months from March 6 1912 to Sept. 6 1914 incl.
The first-mentioned issue is to pay the
“city’s portion” of the Improvement
and carries interest at the rate of
4%, payable semi-annually at the United
•States Mortgage & Trust Co. in New York
City; the remaining Issues are
assessment bonds and bear 5%
Interest, payable semi-annually at the
Northern National Bank of Toledo.
Bond
Offering.—Proposals will be
p. m. Jan.
received until 7:30
18 1911 by J. J. Lynch, City Auditor, for the
$300,000 4% coupon city-hall-site-purchase bonds mentioned
91, p. 1470.
in V.
Denomination $1,000.
Date Dec. 1 1910.
Interest semi-annually at
the United States Mortgage & Trust
Co. In New York City.
Maturity
twenty-five years. Certified check for 5% of bonds, payable
to the City
Auditor, is required. Purchaser to pay accrued interest.
Trenton, N. J.—Bond Offering.—Proposals will be re¬
m. Dec. 28
by H. E. Evans, City Treasurer,
for the following
4^% bonds:
ceived until 12
$66,420 street bonds. Maturity 10 years.
required.
9,000 coupon or registered school bonds.
check for $200 is required.
10,600 park bonds.
Maturity 10
required.
Interest semi-annual.
years.
Certified check for $1,300 is
Maturity 30
Certified
Certified
years.
check
for
$200 is
County (P. O. Everett), Wash.—Bond Sale.—
Reports state that $100,000 5% refunding bonds have been
Troy, N. Y.—Certificate Sale—On Dec. 13 an issue of
awarded to E. H. Rollins & Sons of
$75,000 5% certificates of indebtedness were awarded to the
Chicago at 103.375.
Stafford, Stafford County, Kan.—Bond Offering.—Fur¬ Albany Savings Bank in Albany at 100.35. Date Dec. 13
ther details are at hand relative to the
1910.
Maturity July 3 1911.
offering on Dec. 20
of the $30,000
Turlock Irrigation District (P. O.
water-works-system completion and $25,000
Turlock), Stanislaus
electric-light-system purchase 5% bonds mentioned in County, Cal.—Bond Voted.—The members
of this district
V. 91, p. 1589. Porposals for these bonds will be
received have voted, it is stated, to issue $1,206,000 bonds.
The
until 8 p. m. on that day
vote is reported as being
by G. A. Mikesell, City Clerk.
1,201 to 402.
Authority, Chapter 101, Laws of 1905. Denominations $1,000 and $500.
Twin Falls School District No. 4 (P.
Date Dec. 1 1910.
Interest Jan. 1 and July 1 at the fiscal
O. Twin Falls), Twin
agency of the
State of Kansas in New York
City. Maturity Dec. 1 1930, subject to call Falls County, Idaho.—Bond Sale.—The $2,000 5% 10-20after 10 years.
Certified check for 2% of bid, payable to the
City Treas¬ year (optional) bonds offered without success on
urer, Is required.
Bonds are exempt from all taxes.
Sept. 23
(V. 91, p. 901) have been sold to the State of Idaho.
Stambaugh, Iron County, Mich.—Bond Sale.—Sonntag,
Union County (P. O. Marysville), Ohio.—Bond Sale.—On
Decker & Co. of
Chicago have purchased $10,000 5% 2-11- Dec. 10 the
$30,000 5% coupon gravel and stone-road bonds
year (serial) wTater-works bonds.
Date Oct. 1 1910.
ings Bank of Chicago.
Interest semi-annually at the Colonial Trust & Sav¬
Total bonded debt, including this issue,
$17,000.
Stockton, San Joaquin County, Cal.—Bond Election.—On
Jan. 24 1911 the voters will have submitted to them
the
question of issuing $290,609 76 street-improvement, $100,000
fire-department, $40,000 sanitary-sewer and $77,000 water
■5% bonds./
Stratton, Hitchcock County, Neb.—Bond Sale—The $12,000 6% water-works bonds offered on Dec. 9
and described
in V. 91, p. 1530, were awarded to the
Commercial Banking
Co. in Stratton.
Maturity 20 years, subject to call after 5
years.
described in V. 91, p. 1530, and the
$48,000 5% coupon
ditch-construction bonds described in V. 91, p.
1589, were
awarded to the First National Bank in Cleveland at 102.37
and 102.368, respectively.
each case.
The following
Bank of
Accrued interest was also paid in
bids were also received:
Marysville, Marysville
$30,000
$48,000
bonds.
bonds.
$30,645
$49,032
30,630
49,010
A bid was likewise received from S. A. Kean & Co. of
Chicago, but the
same, being irregular, was not considered.
Maturity of the $30,000 issue is
$2,500 each six months from June 1 1911 to Dec. 11916.
The $48,000 issue
matures $4,000 each six months from June 1 1911 to Dec. 1
1916, inclusive.
Hayden, Miller & Co., Cleveland
Vallejo School District (P. O. Vallejo), Solano County,
Cal.—Bond Sale.—On Dec. 5 the $60,000 5%
school-build¬
Sunny side, Yakima County, Wash.—Bonds Proposed.— ing and site-purchasing bonds recently voted (V.
91, p.
According to reports, this town is considering the advisa¬ 1052) were awarded to N. W. Halsey & Co. of San Francisco
bility of issuing bonds for a system of sewerage.
for $62,050—the price thus
being 103.416.
Denomination $1,000.
Interest semi-annual.
Maturity $2,000 each
Superior, Douglas County, Wis.—Bonds Defeated.—At year
from 1911 to 1925 Inclusive and $3,000 each
year from 1926 to 1935
the election held Dec. 8 the
question of issuing the $90,000 inclusive.
bridge bonds mentioned in V. 91, p. 1530, was defeated.
Vancouver, Wash.—Bonds Defeated.—The election held
The vote
was
320 “for” to
1,045 “against.”
Tacoma, Wash.—Bond Bids.—The following bids were
received on Dec. 8 for the
$405,000 20-year gold
(with privilege of registration) public-wharf and dockcoupon
bonds
awarded on that day to
Blodget & Co. and R. L. Day & Co.,
both of Boston, at 102.088 for
43^s—a basis of about 4.343%.
Blodget & Co. and R. L.
Day & Co., Boston
a$413,456
Estabrook & Co., Boston
0412,875
Harris Trust & Savings Bank,
Chicago
a412|825
Parkinson & Burr, New York
a411,930
N. W. Halsey & Co., Chicago
Ia411,277
Thos. J. Bolger Co., Chicago
a410,471
Well, Roth & Co., Chicago; Seasongood & Mayer,
Cincinnati,
and Farson, Son & Co., Chicago
a409,400
E. H. Rollins & Sons, Denver
a408,564
Woodin, McNear & Moore, Chicago J$105,000 bonds
6105,000
\ 300,000 bonds....
a300,000
40
00
00
77
50
55
00
00
00
00
Taylor Separate School District, Lafayette County, Miss.
—Bond Sale.—On
Dec.
8
the $3,000 6%
coupon school¬
building bonds mentioned in V. 91, p. 1470, were awarded
to the Bank of Oxford in Oxford at
par.
Terrell, Tex.—Bond Sale.—The $8,000 5%
15-40-year
(optional) water and light bonds mentioned in V. 91,
p. 980,
were
recently sold, we are advised, to the United States
Bond & Mortgage Co. of Dallas at
par and accrued interest.
Denomination $500. Date Sept. 1 1910. Interest semi¬
annual.
Toledo, Ohio.—Bonds Authorized.—Ordinances have been
providing for the issuance of the following coupon
assed
onds:
41,570 00 water-plant-improvement
bonds.
Denomination $1,000, ex¬
cept one bond of $570.
Date Dec. 1 1910.
Maturity Dec. 1
1927.
3,648 84 South Main St. Improvement bonds.
Denomination $370, ex¬
cept one bond of $318 84.
Date Oct. 15 1910.
Maturity one
bond each six months from
March 15 1912 to Sept. 15 1916
Inclusive.
S76 05 Sewer No. 1,087
construction bonds.
Denomination $250,
except one bond of $226 05.
Date Oct. 25 1910.
Maturity one
bond each six months from
March 25 1911 to Sept. 25 1912
inclusive.
'
,
Dec. 6 (V. 91, p. 1052) defeated the
proposition to issue
$314,000 municipal-water-system bonds. The vote was
289 “for” to 384 “against.”
Vandalia School District No. 20 (P. O. Vandalia),
Valley
County, Mont.—Bond Sale.—The $2,500 bonds mentioned
in V. 91, p. 901, have been sold to the State Board of Land
Commissioners as 6% 15-20-year (optional) bonds.
Wabash, Wabash County, Ind.—Bonds Not Sold.—The
$70,400 5% coupon street-improvement bonds which this
city has been offering at private sale (V. 91, p. 981) had not
been sold up to Dec. 9.
Warrenton, Warren County, Mo.—Bonds to Be Disposed of
Locally.—We are advised that the $10,000 water bonds voted
last September (V. 91, p. 824) will be sold at home.
Washington, Daviess County, Ind.—Bond Sale.—On
Dec. 12 an issue of $10,000 4% refunding bonds was awarded
to the Fletcher American National Bank in
Indianapolis at
100.10.
A bid of par was also received from J. F. Wild &
Co. of Indianapolis.
,
Denomination $500.
Date Nov. 15 1920.
Interest June
Maturity Dec. 15 1920, subject to call after Dec. 15 1915.
15 and Dec. 15.
Washington C. H., Fayette County, Ohio.—Description of
Bonds.—We are advised that the $2,000
4%street-improve¬
ment bonds sold on Nov. 30 to Frank Johnson, Vice-President
of the People's & Drovers' Bank of Washington C.
H., at
100.60 and accrued interest (V. 91, p. 1589) are in demoninations of $100 each and are dated Oct. 26 1910.
Interest
March and Sept.
Maturity $200 yearly on Oct. 26 from
1911 to 1920 inclusive.
Watertown, Middlesex County, Mass.—Bond Sale.—On
$95,000 1-19-year (serial) and the $20,000 1-10year (serial) 4% coupon high school bonds described in
V. 91, p. 1589, were awarded to Kuhn, Fisher & Co. of
Dec. 12 the
Boston at 102.91 and accrued interest.
also among the bids received:
The
following
^
were
^
Deo. 17
THE CHRONICLE
1916.]
Geo. A. Femald & Co
102.82 Perry, Coffin & Burr
102.60
E. M. Farnsworth & Co
102.80 R. L. Day & Co.
102.567
E.
H.
Sons
F. S. Moseley & Co
Rollins
&
102.55
102.71
102.534
Estabrook & Co
102.68 N. W. Harris & Co
102.31
Blake Bros. & Co
102.65 Adams & Co
102.069
Blodget
& Co
_.102.64 Merrill. Oldham & Co
oagL
All the above bidders are of Boston.
The $95,000 issue is dated April 1
1910 and the $20,000 issue Nov. 1 1910.
_
_
Waukon, Allamakee County, Iowa.—Bond Sale.—The
$5,000 5% sewer bonds mentioned in V. 91, p. 1589, have
been sold.
West Palm Beach, Dade County, Fla.—Bonds Defeated.—
At an election held Dec. 6 a proposition to issue bonds was
defeated.
Wichita Falls, Tex.—Bond
Sale.—Reports state that the
$17,500 5% 10-40-year (optional) street-improvement bonds
mentioned in V. 91, p. 356, have been sold.
Wichita School District (P. O. Wichita), Sedgwick
County, Kan.—Bond Offering.—Proposals will be received
until 12 m. Jan. 2 1911 for the $50,000 5% high-school bonds
mentioned in V. 91, p.
234.
Williams Union High School District, Colusa County, Cal.
see it reported that the $25,000 5% high-
—Bond Sale.—We
school-building bonds mentioned in V. 91,
1201, were
Dec. 6 to James H. Adams & Co. of Los Angeles at
p.
sold on
102.124.
Wirt County
(P. O. Elizabeth), W. Va.—Bond Offering.—
Proposals will be received until 12 m. Jan. 3 1911 by I. P.
Thorn, Clerk County Court, for $40,000 5% coupon court¬
house and jail-building bonds.
Authority, election held Nov. 8 1910.
Denominations: 20 bonds of
$1,000 each and 40 bonds of $500 each. Interest annually on Jan. 2.
Wood County (P. O. Bowling Green), Ohio.—Bond Sale.—
The $50,000 5% coupon public-highway-improvement bonds
offered on Dec. 12 and described in V. 91, p. 1530, were
awarded to Stacy & Braun of Toledo at 101.811. Following
of
Interest semi-annual.
Wyoming School District (P. O. Cincinnati), Hamilton
County, Ohio.—Bond Offering.—Proposals will be received
until 8 p. m. Jan. 2 1911 by the Board of Education, Boyden Kinsey, Clerk, for the $8,000 4% bonds voted (V. 91,
p. 1346) on Nov. 8.
Authority, Sections 7625, 7626 and 7627, General Code.
Denomination
$500.
Date “day of sale.”
Interest March 15 and Sept. 15 at the First
National Bank in Lockland.
Maturity $1,000 yearly on March 15 from
1925 to 1932 inclusive.
Certified check for $10 for each bond bid for,
payable to the Clerk Board of Education, is required.
Ohio.—Bond Sales.—The following bids
Youngstown,
received on Dec. 12 for the nine issues of
described in V. 91, p. 1590:
5% bonds
were
$2,000 $3,000 $2,000 $670 $495 $7,480 $1,500 $2,245 $1,720
gradeg sewer clean’g
crematory garbage sidew’k street sewer paving
bonds, bonds, bonds, bonds, bonds, bonds,
Bid
Bid
Bid
Bid
Bid
No.
No.
No.
No.
No.
bonds, bonds, bonds
*$2,007*$3,023*12,007 $670
*$1,756
*$7,675 $1,524
2,000 3,020 2,000
*$505 7,667 *1,541*$2.307
7,675
7,659
*675
1
2
3
4....
5
In addition to the above, the following proposals were
received for the 23 issues of 5% bonds described in V.
p. 1590, the same being old issues which
the Sinking Fund as an investment:
$15,000
$16,500
street
water
No.
No.
No.
No.
No
No.
3
4
6
7
8
9
....
16,085
16,200
No.
No.
No.
No.
1
7
9
10
$1,800
$1,115
$8,000
street
bonds.
street
street
ire
bonds.
bonds.
$1,116
16^806
$8,107
8,141
8.136
*8,148
8,089
8,109
bonds,
street
bonds,
.$1,805
$2,007
_
_
.
bondsi
$2,509
$2,000
park
$3,000
park
$1,000
park
street
$1,000
park
bonds, bonds.
$1,501 $500
bonds.
bonds.
bonds.
bonds.
$1,001
$1,001
*501
*1,003
$2,007 *$3,023
3,015
*2,012
$1,500
fire
_
*2,012
.*1,816
$500
$2,500
fire
*2,517
*1,119
$2,000
$1,800
fire
Bid
Bid
Bid
Bid
$2,200
bonds.
bonds.
*$16,330
16,314
16,278
No. 1
also
91,
have been held by
$16,860 *$2,203 *$1,804
16,847
*16,896
16,864
16,861
bonds.
Bid
Bid
Bid
Bid
Bid
Bid
Bid
the bids received:
Stacy & Braun, Toledo._.$50,905 75 Hayden, Miller & Co., Cle.$50,810 00
NEW LOANS.
Mass.—Description
purchaser desires. Date Oct. 1 1910.
Maturity Oct. 1 1930.
are
First Nat. Bank, Cleveland 50,867 00 Otis & Hough, Cleveland. 50,775 00
Davies-Bertram Co., Cin. 50,866 00 New First Nat. Bank, Col. 50,670 00
Breed & Harrison, Cincln. 50,816 00 Prov.Sav.Bk.&Tr.Co. ‘Cin. 50,477 50
Maturity $5,000 each six months from March 1 1911 to Sept. 1 1915
Inclusive.
County,
Worcester
Worcester,
Bonds.—We are advised that the $100,000 4% grade-crossing
bonds awarded on Dec. 7 to F. S. Moseley & Co. of Boston
at 107.21 (V. 91, p. 1590) will be in such denominations as
Authority, vote of 2336 to 1243 at election held Aug. 2. Maturity 20
years, subject to call after 10 years.
C. S. Caldwell Is Secretary of Board
of Education.
1665
*1,505
—
...
—
—
—
*1,003
—
—
INVESTMENTS.
NEW LOANS.
$30,000
$25,000
Reynolds, Watson & Co.
Borough of Turtle Creek, Pa., Town of Conrad, Montana,
Municipal and Cerperatinn Bonds
STREET IMPROVEMENT BONDS
SEWER BONDS
Turtle Creek, Allegheny County, Pa.,
Dec. 5 1910.
Bids will be received by the undersigned at the
Council Chamber of the Borough of Turtle Creek
until 12 o'clock m
DECEMBER 19 1910, for
the purchase of thirty (30) street improvement
coupon bonds of $1,000 00 each, dated November
1st 1910, Interest 4 H per cent per annum, payable
aemi-annually.
Free from State tax. Bonds
mature as follows:
Bond No.
1 on November 1st 1915
Bond No.
2 on November 1st 1916
Bond No.
3 on November 1st 1917
Bond No.
4 on November 1st 1918
5 on November 1st 1919
Bond No.
6 on November 1st 1920
Bond No.
7 on November 1st 1921
Bond No.
Bond No.
8 on November 1st 1922
Bond No.
9 on November 1st 1923
Bond No. 10 on November 1st 1924
No.
Bond
11 on November 1st 1925
Bond No. 12 on November 1st 1926
Bond No. 13 on November 1st 1927
Bond No. 14 on November 1st 1928
Bond No. 15 on November 1st 1929
Bond No. 16 on November 1st 1930
Bond No. 17 on November 1st 1931
Bond No. 18 on November 1st 1932
Bond No. 19 on November 1st 1933
Bond No. 20 on November 1st 1934
Bond No. 21 on November 1st 1935
Bond No. 22 on November 1st 1936
Bonds Nos. 23 and 24 on November 1st 1937
Bonds Nos. 25 and 26 on November 1st 1938
Bonds Nos. 27 and 28 on November 1st 1939
Bonds Nos. 29 and 30 on November 1st 1940
A certified check on a national bank for
$1,000 00 required with each bid.
JAMES STRANG,
Chairman of Finance Committee,
Borough of Turtle Creek.
Turtle Creek, Pa.
,
‘
HIIENPYL, WALBRIBCE & CO.
7 Wall
St.i Naw York
Railroad, Street Ry., Gas A Sloe. Light
SECURITIES
Notice is hereby given by the Town Council
of the town of Conrad, in the State of Montana,
that the sewer bonds of said town in tbe sum of
$25,000 00, bearing Interest at six (6) per cent
per annum. Interest payable semi-annually on
the first of January and first of July In each
year, will be offered for sale at public auction
to the bidder offering the highest price therefor,
at the Council Chamber of the Town Council of
the town of Conrad, in the town of Conrad,
County of Teton and State of Montana, on the
28TH DAY OF DECEMBER, A.jD. 1910, at the
horn: of 2 o’clock p. m. of that day.
The Council reserves the right to reject all or
any bids or offers of purchase.
The principal of said bonds to be payable In
twenty years from the date thereof, and $3,000 00
thereof redeemable in five years, $5,000 00 re¬
deemable in ten years and $5,000 00 redeemable
in fifteen years from the date thereof at the
option of the Town Council. All tenders, bids
or offers to purchase to be addressed to F. H.
Pings, Mayor, and a certified check for not less
than $300 00 to accompany each bid to Insure
good faith on behalf of the bidder.
Dated at Conrad, Montana, this 19th day of
November, 1910.
By order of the Town Council.
We offer
very
exceptional
DRAINAGE
BOND
NETTING
6%
400 The
CHICAGO
Rookery
BLODGET & CO.
BONDS
•O STATE STREET, BOSTON
SO PINE STREET, NEW YORK
STATE, CITY A RAILROAD BONDS
MUNICIPAL AND RAILROAD
BONDS
Charles M. Smith & Co.
LIST ON APPLICATION
CORPORATION AND
MUNICIPAL BONDS
SEAS0NG00D & MAYER
FIRST NATIONAL BANK BUILDING
CHICAGO
CINCINNATI
F. WM. KRAFT
Mercantile Library
R C. SPEER & SONS CO.
First Nat Bank Bldg., Chicago
LAWYER
Specializing in Examination ot
Municipal and Corporation Bonds
ISM FIRST NATIONAL BANK BLDO..
CHICAGO, ILL.
FORREST & CO.
Building
ESTABLISHED 188ft
SCHOOL,
MUNICIPAL BONDS
COUNTY AND
MUNICIPAL BONDS
Investments
mown.
McCOY & COMPANY
a
Yielding from
AOL fn ftQL Wrtt* **
^/U lu ° A/ Circular.
ULEN
&
CO.
CHICAGO
BANKERS
BARKERS
Municipal and
Corporation Bords
1S1
La Sails
Strsst, Chisago
Ml Ckutaat SI.. PHILADELPHIA. PA.
Municipal and
Corporation Bonds
OTTO JULIUS MERKEL
BROKER
44 AND 46 WALL STREET, NEW YORK
INVESTMENT SECURITIES
Correspondence Invited
1666
THE CHRONICLE
*1,500
park
Bid
Bid
Bid
Bid
Bid
Bid
Bid
*
No.
No.
No.
No.
No.
No.
No.
1
3
4
6
7
8
9
*200
*2.000
street
bonds, bonds,
street
*$1,508
bonds,
*$2,007
*6,000
garbage
*150
*2,800
street
bonds, bonds,
street
bonds,
$6,122
6,132
6,127
*6,137
6,121
6,108
*200 50
*8,375
paving
*9,200
paving
bonds,
bonds.
$8,505 *$9,440
9,440
8,497
9,420
8,518
*8,522
9,439
9,387
8,464
8,493
9,412
*$2,810
2,805
*150 50
Successful bids.
Bid No. 1 is Hayden, Miller & Co. of Cleveland.
Bid No. 2 is the Citizens’ Na¬
tional Bank of Wooster.
Bid No. 3 Is Seasongood & Mayer of Cincinnati.
Bid No. 4
Is Well, Roth A Co. of Cincinnati.
Bid No. 5 is Jas. Squire of Youngstown.
Bid
No. 6 is C. E. Denison & Co. of Cleveland.
Bid No. 7 is the New First National
Bank of Columbus.
Bid No. 8 is Otis & Hough of Cleveland.
Bid No. 9 is the
Firemen’s Pension Fund of Youngstown.
Bid No. 10 is the Police Relief Fund
of Youngstown.
All bids include accrued Interest.
Canada, Its Provinces and Municipalities.
Bears Hill School District No. 352 (P. O. Wetaskiwin),
Alberta.—Debenture Sale.—On Dec. 1 an issue of $1,400 6%
school-building debentures was awarded to the Imperial
Bank of Canada for
Date
Dec.
15
1910.
Maturity part yearly for
years.
LXXXXI
gold coupon debentures described in V. 91, p. 1282, were
rejected. The offers ranged around 92.
Clinton,Ont.—Debenture Sale.—School debentures amount¬
ing to $10,975 and carrying5%interest have been awarded,
it is stated, to Wood, Gundy & Co. of Toronto.
Maturity
part yearly for 20 years.
Cranbrook, B. 0.—Debenture Offering.—Proposals will be
received until Dec. 24 for $15,000 5% municipal-building
debentures.
Authority, vote of 49 to 23 at
an
election held Nov. 28.
Maturity 35-
years.
Elbow, Sask.—Debenture Sale.—It is stated that the
$5,000 6% 15-year water-works and fire-station debentures
mentioned in V. 91, p. 1531, have been awarded to the
National Finance Co. of Regina.
Forestville School District No. 2133 (P. O. Kinnondale),
Alberta.—Debenture Sale.—On Nov. 1 $1,500 6% school¬
building and improvement debentures were awarded to H.
O’Hara & Co. of Toronto at par.
$1,420—the price thus being 101.428.
Interest annual.
IVOL.
10
Date Nov. 1 1910.
Interest annual.
from 1911 to 1920 Inclusive.
Maturity part yearly
on Nov.
1
Frontenac County (P. O. Kingston), Ont.—Debentures
Blanchard, Man.—Debenture Election.—An election will
20, it is stated, to vote on the question of issuing Authorized.—A by-law providing for the issuance of $12,$7,000 5% municipal-hall-construction debentures. Ma¬ 880 road debentures has, it is stated, been authorized by
the county.
turity part yearly for 20 years.
Gilbert Plains, Man.—Debenture Election.—On Dec. 20
Brandon, Man.—Debenture Election.—The election, it is
the
voters will decide whether or not debentures amounting
stated, to vote on the question of issuing the $50,000 5%
30-year school debentures mentioned in V. 91, p. 1202, will to $5,000 shall be issued for a fire-hall.
be held Dec. 20.
By-laws will also be presented at the same
Glenavon, Sask.—Bids Rejected.—It is stated that a bid of
election providing for the issuance of $50,000 water-works $1,950 was received
for the $2,000 7^% 15-year debentures
and $12,000 city-stables 5% 30-year debentures.
offered by this municipality on Dec. 14 and mentioned in
Burnaby <P. O. Edmonds), B. C.—Price Paid for Bonds.— V. 91, p. 1531. This offer, however, was rejected.
We are advised that the price paid for the $70,000
Hamilton, Ont.—Debenture Election.—The voters of this
12-year
sidewalk and the $46,000 40-year water-works 5%
debentures place will have presented to them, according to reports, at
awarded on Nov. 24 to the Ontario Securities Co., Ltd., of an election to be held Jan. 2
1911, a by-law providing for
Toronto (V. 91, p. 1531) was $117,757, or 101.514.
De¬ the issuance of $7,500 4% 10-year “Detention Home for
nomination $1,000.
Date Nov. 1 1910. Interest semi¬ Children” debentures.
annual
Kelliher, Sask.—Debenture Sale.—This village sold $3,500
Castor, Alberta.—Bids Rejected.-—All bids received on 5}^% 15-year permanent-improvement debentures during
Dec. 1 for the $7,500 town-hall and the $5,000 funding 5% November to Nay & James of
Regina.
be held Dec.
.
MISCELLANEOUS.
MISCELLANEOUS.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New
York. January 21st. 1910.
The Trustees, in conformity with the Charter of the
Company, submit the following statement of its affairs
on the 31s* of December, 1909.
Premiums on Marine Risks from 1st January, 1909, to 31st
December, 1909
$3,759,391 25
Premiums on Policies not marked ofl 1st January, 1909
717,712 70
Total Marine Premiums
$4,477,103 95
Premiums marked ofl from 1st January. 1909, to 31st December, 1909
*3,791,557 05
Interest received during the year
Rent less Taxes and Expenses
$322,046 46
145,679 82
were estimated In 1908
and previous years
$829,378 19
Losses occurred, estimated and paid In 1909_
1.149,459 56 $1,978,837 75
$249,891 07
235,520 48
Re-Insurances
AUCTIONEERS.
Regular Weekly Sales
OF
STOCKS and BOND8
EVERY
$467,726 28
Losses paid during the year which
Less Salvages
Adrian H. Muller & Son,
WEDNESDAY
Office. No. 55 WILLIAM STREET;
Corner Pine Street.
485.411 55
$1,493,426 20
Returns of Premiums
Expenses, Including officers’ salaries and clerks’ compensation, stationery,
newspapers, advertisements, etc
ASSETS,
United States A State of New York
Stock, City, Bank and other Se¬
curities
$5,461,042 00
Special deposits in Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall A William Sts.,
A
Exchange Place.$4,299,426 04
Other Real Estate A
claims due the com¬
75.000 00
4,374,426 04
Premium notes and Bills Receivable
Gash in the hands of European
Bankers to pay losses under poli¬
cies payable In foreign countries.
Cash In Bank
1.213.069 68
pany
...
...........
Aggregating
$60,285 14
THE AMERICAN MFG. CO.
$356,913 94
LIABILITIES.
Estimated Losses and Losses Un¬
settled
Premiums
on Unterminated Rlsks.
Certlficates of Profits and Interest
Unpaid
685.546 90
Return Premiums Unpaid..
Certificates of Profits Ordered Re¬
deemed, Withheld for Unpaid
Premiums
Certificates of Profits Outstand¬
ing
Real Estate Reserve Fund....
MANILA
CORDAGE
263.468 95
120.569 42
22.353 49
65 Wall Street
7,404,890 00
370.000 00
633,405 13
Aggregating
NATIONAL LIGHT,
$11,260,125 76
A dividend of Interest of Six per cent on the
outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after
Tuesday the first of February next.
The outstanding certificates of the Issue of 1904 will be redeemed
and paid to the holders thereof,
or their legal representatives, on and after
Tuesday the first of February next, from which date all
Interest thereon will cease.
The certificates to be produced at the time of
payment and canceled.
A dividend of Forty per cent Is declared on the net earned
premiums of the Company for the year
ending 31st December, 1909, which are entitled to participate In dividend, for
which, upon appli¬
cation, certificates will be issued on and after Tuesday the third of
May next.
By order of the Board.
0. STANTON FLOYD-JONES. Secretary.
HEAT A POWER COMPANY
GUARANTEED
BONDS
CLEMENT A. GRISCOM.
ANSON W. HARD.
LEWIS CASS LED YARD,
CHARLES D. LEVERICH,
LEANDER N. LOVELL.
GEORGE H. MACY,
CHARLES H. MARSHALL.
NICHOLAS F. PALMER.
HENRY PARISH,
ADOLP PAVENSTEDT.
CHARLES M. PRATT,
A. A.
DALLAS B. PRATT,
GEORGE W. QUINTARD.
A. A. RAVEN.
JOHN J. RIKER.
DOUGLAS ROBINSON.
GUSTAV H. SCHWAB.
WILLIAM SLOANE.
ISAAC STERN.
WILLIAM A. STREET.
GEORGE E. TURNURE.
RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB. 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART. 4tft Vice-President,
All lituei
A. H. Bickmore & Co.,
BANKERS
TRUSTEES.
CORNELIUS ELDERT.
RICHARD H. EWART.
PHILIP A. S. FRANKLIN.
HERBERT L. GRIGGS.
New York
239,948 04
$12,921,890 89
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN.
JOHN N. BEACH.
JOHN CLAFLIN.
GEORGE C. CLARK,
CLEVELAND H. DODGE.
SISAL AND JUTE
$2,393,297 00
30 Pine
Street.
New York
WANTED
CHRONICLE
ISSUE
Jan. 29, 1910
Will pay 20 cents a copy.
Commercial ft Financial Chronicle
138 Front St., Now York
Dec. 17
THE CHRONICLE
1910.)
Kenora, Ont.—Debenture Election.—A by-law will
be
voted upon, it is stated, to issue $50,000 debentures as a
It is further stated $100,000
bonus to the Tourist Hotel Co.
debentures
were
voted for the
same
purpose
about
one
1667
Ottawa, Ont.—Debenture Election.—According to reports
election will be held to vote on a proposition to issue
$50,000 water-works debentures.
Proton Township, Ont.—Debenture Election.—Reports
an
election will be held Jan. 2 1911 to vote
year ago.
state that
Kingston, Ont.—Debenture Election.—In January 1911
an election will be held in this city, according to reports, to
vote on the question of issuing $13,000 street-lighting
proposition to issue $36,000 6% debentures for the purpose
of aiding the People’s Railway.
Qu'Appelle, Quo.—Debenture Election.—An election will
be held, according to reports, to vote on a by-law providing
for the issuance of $5,477 50 sidewalk debentures.
St. Albert, Alberta.—Debenture Sale.—An issue of $10,000 6% debentures has been awarded, it is stated, to Nay &
James of Regina.
St. Paul's School District No. 1545, Man.—Debenture
Election.—Reports state that an election will be held Dec. 29
to vote on the question of issuing $6,000 debentures.
Sandwich, Ont.—Debenture Sale.—The $28,707 83 4)^%
20-year debentures mentioned in V. 91, p. 1532, were
awarded on Dec. 5 to the Dominion Securities Corp., Ltd.,
debentures.
London, Ont.—Debenture Election.—An election will be
held in Jan. 1911, according to reports, to vote on
tion of issuing $75,000 city-hall debentures.
the
ques¬
Melfort, Sask.—Debenture Sale.—Reports state that the
$1,700 local-improvement and $2,500 water 5% debentures
offered on Oct. 15 (V. 91, p. 826) have been awarded to
R. C. Matthews & Co. of Toronto.
Maturity part yearly
for 20 years.
Debenture Election.—A vote will be taken at an election
to be held Dec. 27, it is stated, on the question of floating
$4,000 land-purchase and $3,000 20-year telephone 5%
debentures.
Man.—Debenture Offering.—Proposals will be
received until Dec. 24 for $6,800 86 local-improvement de¬
bentures.
Maturity part yearly on Jan. 1 from 1912 to
1930 inclusive.
C. McCorquodale is Secretary-Treasurer.
New Norway, Alberta.—Debenture Sale.—Nay & James
of Regina were the successful bidders on Nov. 15 for the
$2,000 6% permanent-improvement debentures offered
(V. 91, p. 1203) on that day. Interest is payable at the
Merchants' Bank in New Norway.
Morden,
Maturity part yearly for ten years.
Total debt, this Issue.
Assessed
valuation for 1910. $96,000.
North Vancouver, B. C.—Debenture Offering.—Proposals
will be received until 8 p. m.
Dec. 27 by Thos. Sheppard,
City Clerk, for $13,000 20-year local-improvement and
$12,000 50-year water-works debentures.
Ontario County (P. O. Whitby), Ont.—Debenture Offering.
—Proposals will be received until Dec. 24 for the $20,000 4%
bridge debentures mentioned in V. 91, p. 1055. Maturity
part yearly for 20 years. J. E. Farewell is County Clerk.
on a
of Toronto.
Scott, Sask.—Debenture Election.—According to reports,
election will be held Dec. 19 to vote on a proposition to
issue $9,000 fire and town-hall and $6,000 hospital 5^%
an
20-year debentures.
South Qu'Appelle, Que.—Debenture Election.—It is stated
that an election will be held to-day (Dec. 17) to vote on a
proposition to issue $60,000 road debentures.
Thorold, Ont.—Debenture Sale.—An issue of $4,800 5%
sidewalk debentures has been awarded, it is stated, to Brent,
Noxon & Co., Toronto.
Maturity part yearly for 15 years.
Toronto, Ont.—Debentures Authorized.—The City Council
on Nov. 7 passed a by-law
authorizing the issuance of $645,743 street-railway debentures, for the purpose of paying for
the construction of pavements upon street railway track ex¬
tensions on portions of streets to be occupied by the right of
way of the Toronto Railway Co.
Viscount, Sask.—Debenture Sale.—During the month of
November $1,000 6%
10-year permanent-improvement
debentures were awarded to Nay & James of Regina.
MISCELLANEOUS.
MISCELLANEOUS.
1IH
an
1(10
The United States Life
Insurance Co.
IN THE pITY OF NEW YORK
Unei Ouaranteed Contracts
JOHN P. MUNN, M. D., President
Finance Committee
OLARENCE H. KELSEY, Pres. Title On. ATr.C©
WM. H. PORTER, Pres. Chemical National Baal
■D. TOWNSEND. Pres. Imp. A Traders Nat. Bi
er
Good men, whether experienced In life Incuran o>
not. may make direct contracts with this Com
pany, for a limited territory If desired, and seeort
for themselves, in addition to lint year's commit
slon, a renewal interest insuring an lnoome for th<
future.
Address the Company at Its Home Otfic
We. *77 Broadway. New York City
C. B. Van Nostrand
N WALL STREET
INDUSTRIALS
GEO. B. EDWARDS
Tribune Building, 154 Nassau Street,
Telephone 4218 Beekman,
NEW YORK. N. Y.
Negotiations,Investigations,Settlements,
In
out of New York
City
Satisfactory References
or
EDWIN R. CASE
NEW
JERSEY
No better Securltle
15 EXCHANQE PLACE
Tels. 866 and 761
JERSEY CITY
Telephone 2817 Reeto*
INSURANCE STOCKS
Fidelity, Phoenix, Homs,
Niagara, Continental, Ao.
BOUGHT AND SOLD
E. S. BAILEY
*6
BROADWAY
Range of Prices for Stocks and Bonds
FROM
SECURITIES
No better State
Established 1864
Ready About January 15, 1911
NBW TORI
1907 to
January 1, 1911
Earnings, Fixed Charges and Dividends for Series of Years
Hand Book of Securities
Price of Single Copies
To Subscribers of the Chronicle
$1 00
70
Commercial & Financial Chronicle
Front
Pine and Depeyster
NSW YORK.
Streets,
1668
THE CHRONICLE
[Voi*.
jjjyttgi ®greyttttfct*.
LXXXXI
gvttst (Jorapauiejs.
mm states M Goipang of lev Tort,
Clurtared IBS 8
Manhattan
45 and 47 WALL STBEMT
CAPITAL,
$2,000,000.00
$13,733,303.21
SURPLUS AND UNDIVIDED PROFITS
Trust
This Company acts aa Executor, Administrator. Guardian. Trustee, Court
Depositary and In
ether recognised trust capacities.
It allows Interest at current rates on deposits.
It holds, manages and invests money, securities and other property, real or
personal, tor estates
iorperatlons and individuals.
Company
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V,-Pres.
WILFRED J. WORCESTER, Asst. Sec.
HENRY E. AHERN, Secretary.
CHARLES A. EDWARDS, 2d Asst.See.
Temporary Offices
T*B PflTJSffS.
JOHN A. STEWART,
Gustav H. Schwab,
Frank Lyman.
James Still mar
John Claflln,
John J. Phelps,
1. Bayard Cutting,
vlUlam
Rockefeller.
Ataxander B. Orr
mtham H. Maey Jv.,
WBMaaa D. Sleane,
Chairman of 1M sioara.
Lewis Cass Led yard.
Lyman J. Gage.
George L. Rives,
Arthur G. James,
William M. Kingsley,
William Stewart lad.
Ogden Mills.
Bgerton L. Wlnthrop
Payne Whitney,
Edward W. Sheldon.
Chaunoey Keep
113 BROADWAY
WALL STREET
Fidelity Trust Company
CORNER NASSAU
NEWARK, N. J.
Resources Over $29,000,000
UNITED STATES
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts
Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Beal and Personal Estates. Guarantees Titles of
Beal Estate throughout New Jersey.
as
MORTGAGE & TRUST
COMPANY
NEW YORK
General
Banking and Barings Departments. Bend Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
CAPITAL,
$2,000,010.00
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
CENTRAL TRUST COMPANY
ecutor, Administrator, Guard¬
ian
and
Wall Street
Capital and Surplus, $18,000,000
to act
as
Executor, Trustee, Administrator
Receives Deposits, subject to check, and allows Interest
alt
S8 Cedar SI.
(of which $ 17,000,000 has been earned)
Authorized
in
Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
of NEW YORK
54
SURPLUS.
$4,000,000.00
B'way a TSrd St.
or
ISSth SI. ft Bth Ava.
Guardian*
Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
on
Industrial Trust Company
Providence, R. I.
CAPITAL
..SS.SSS.SSS
I.ilt.OOS
SURPLUS
OFFICERS.
Cyras P. Brown, President
CHARTERED 1864
Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office: 425 Fifth Avenue, corner 38th Street,*
With Modern Safe Depoait Vaults
Capital $1,000,000
Surplus (earned) $ 7,737,000
ALLOWS INTEREST ON DEPOSITS.
Acts
as
Executor, Guardian, Trustee, Administrator and in all Fiduciary Capacities
on behalf of Iodividuals, Institutions or
Corporations.
niinoisTrust&SavhuSsBanK
CHICAGO
Time Deposits, Current and Reserve Accounts*
Deals in Investment Securities and Foreign Exchange*
Transacts a General Trust Business*
on
CORRESPONDENCE
Samuel P. Colt
Olney T. Inman
Richard A. Robertson
Joshua M. Addeman
James M. Scott
William H. Perry
Arthur L. Kelley
H. Martin Brown
George F. Baker
George M. Thornton
Oyrns P. Brown
Onaa. C. Harrington
Louis H. Comstock
Englehart C. Ostby
$ftje
Herbert N. Foi
J. Milton Payne
Eben N. Littlefield
Otis Everett
C. Presoott Knight
Jesse H. Metcalf
John J. Watson Js.
Charles H. Alisa
John B. Branch
William P. Chapin
Angus McLeod
Earn Dixon
Howard O. Sturgis
Edward D. Pea roe
Jicjcxruutaixt
P. O. BOX 27. MAIN
Capital and Surplus
$13,600,000
Pays Interest
Arthur L. Kelley, Vice-President
H. Martin Brown, Vloe-President
Otis Everett. Vice-President
Joshua M. Addeatan, VIoe-President
Ward B. Smith, Treasurer
Chas. H. Manchester. Secretary
H. Howard Peeper, Asst.Trias.
Frederick B. Wlloex .Audited
BOARD OF DIRECTORS.
UNTVITETD.
OFFICE,
WASHINGTON, D. C.
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
A MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES, BANKS, RAILWAYS
AND OTHER PUBLIC SERVICE CORPORA¬
TIONS.
TO BE FOUND IN ALL LEADING CERTIFIED
PUBLIC ACCOUNTANTS’ OFFICES.
Sample Copy 15 cents. Per Annum $1 50
Dec. 17 1910. J
THE CHRONICLE
©trmpatiies.
The NEW ENGLAND
TRUST COMPANY
OLD COLONY TRUST COMPANY
BOSTON, HASS.
BOSTON, MASS.
Capital and Surplus
CAPITAL. $1,000,000
SURPLUS. $2,000,000
Safe Deposit Vaults
.
Authorised to act aa Executor, and to reoelve
and hold money or property In trust or on deposit
tram
Courts of Law or
Equity Executors,
Administrators. Assignees. Guardians Trustees.
Corporations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed
on
Deposits Subject to Check.
OFFICERS
DAVID R. WHITNEY. President
(JHARLES F. CHOATE. Vice-President
ALEXANDER COCHRANE, Vice-President
NATHANIEL THAYER. Vice-President
JAMES R. HOOPER. Actuary
HENRY N. MARR. Secretary
FRED. W. ALLEN. Asst. Sec. A Treas.
THOMAS E. EATON. Asst. Treas.
FRANCIS R. JEWETT. Trust Offloer
CHAS. E. NOTT. Mgr. Safe Dep. Vita.
BOARD OF DIRECTORS
William Endlcott, Chairman
Walter C. Baylles
James G. Freeman
Alfred Bowditoh
fl. Parker Bremer
Timothy E. Byrnes
Charles F. Choate
Alexander Cochrane
Philip Dexter
William Endloott Jr.
Francis W. Fabyan
William Farnsworth
Frederick P. Fish
T. JEFFERSON COOLIDGE JR., Chairman Executive Committee.
GORDON ABBOTT, Chairman of Board.
FRANCIS R. HART. Vice-Chairman.
Charles F. Adams 2nd
Philip Y. DeNormandle
Henry C. Jackson
Philip L. Saltonafc**
F. Lothrop Ames
Philip Dexter
George E. Keith
Herbert M. Sears
Oliver Ames
George A. Draper
Gardiner M. Lane
Quincy
A. Shaw
C. W. Amory
Frederic C. Dumalne
Col. Thos. L. Livermore Howard Stockton
William Amory
William Endlcott Jr.
Arthur Lyman
Philip Stockton
Charles F. Ayer
Wilmot R. Evans
Charles S. Meilen
Charles A. Stone
John S. Bartlett
Frederick P. Fish
Laurence Minot
Galen L. Stone
Samuel C&rr
Reginald Foster
Maxwell Norman
Nathaniel Thayei
B. P. Cheney
George P. Gardner
Hon. Richard Olney
Lucius Tuttle
Edwin Farnham Greene
Hon.T.JeffersonCoolldge
Robert T. Paine 2nd
H. O. Underwood
T. Jefferson Coolldge Jr.
Robert F. Herrick
Eliot Wadsworth
Henry Parkman
Charles E. Cottlng
Andrew W. Preston
Henry S. Howe
Stephen M. Weld
AJvah Crocker
Walter Hunnewell
Richard S. Russell
Sidney W. Winslow
Charles W. Whittier
PRESIDENT. PHILIP STOCKTON.
B. DONHAM
Treasurer. FREDERIC G. POUSLAND
JULIUS R. WAKEFIELD
Cashier. GEO. W. GRANT
Credit
Manager
Dept.. ELMER E. FOYE.
Secretary. CHESTER B. HUMPHREY
Vice-Presidents, WALLACE
Trust Officer. F. M. HOLMES
Morris Gray
James R. Hooper
Ernest Lovering
Authorized Reserve Agent for Trust Companies in Maine, Massachusetts and Rhode
Islands
James M. Prendergast
Herbert M. Sears
Lawrence M. Stockton
Nathaniel Thayer
Girard Trust
Henry H. Proctor
Company.
Capital and Surplus,
as
Executor. Administrator. Trustee.
Interest Allowed
Acts
$1,000.
Eckley B. Ooxe Ji.i
Edwin S. Dixon,
Eugene L. Ellison.
Joseph C. Fraley.
Harry c. Francis.
Henry L. Gaw Jr..
Howard S. Graham.
MANAOERS:
Effingham B. Morris,
John Mcllheimy.
Richard Wain lfelra.
Clement B. Newbold.
John W. Pepper.
William F. Read.
Adam A. Stull.
Edward D. Toland,
Joseph R. W&tnwrlght;
Henry B. Coxe,
Henry TatnaU,
Edgar C. Felton,
Isaac H. Clothier.
Thos. DeWitt Cuyler,
0. Hartman Kuhn,
James Speyer.
William T. Elliott,
W. Hlnckle Smith,
B. Dawson Coleman.
Broad and Chestnut Streets.
PTm.AniRT.PTTT A
William D. Winsor.
Samuel F. Houston.
PROVIDENCE, R. I.
DIRECTORS.
Bo: '
Ro
Robert
William B. Weeden,
Edward Holbrook.
Edward D. Pearce,
James E. Sullivan.
Robert Knight.
Benjamin M. Jaokson
John W. Danielson.
John R. Freeman,
Herbert J. Wells,
Charles S. Mellon.
Lyman B. Goff.
Robert W. Taft,
Rowland G. Hazard,
Webster Knight.
Nelson W. Aldrich.
Stephen O. Edwards;
Samuel R. Dorranoe,
Frank W. Matteson.
R. H. Ives Goddard Jr.
HERBERT J. WELLS. President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAMWELL. Secretary.
PRESTON H GARDNER. Trust Offloei
CYRUS E. LAPHAM. Asst. Seo’y.
JOHN E. WILLIAMS, Asst. Scc’y.
HENRY L. SLADER, Asst. Seo’y.
G. A. HARRINGTON, Asst .Tr.Office*
CARRY NO GOODS
WILLIAM RAY A CO.
McLeod Lumber Co.
Saunders
NorveU,
Hardware Go.
President
NorveU-Shaplelcfc
obert J. O’Reilly. M. D.
m. D. Orth we in, President Wm. D. Orth wefts
$Grain
Co.
Henry W. Peters. President Peters Shoe Co.
H. C. Pierce. Chairman Board Waters-PleroeOU Oa.
August Schiafly, August Sohlafly A Sona.
R. H. Stockton, President Majestic Mfg. Co.
Julius S. Walsh. Chairman of the Board.
Rolla Wells.
«ENTS"aSS'oTHe"S
GEO
FOR
OWN ACCOUNT
Geo. H. MPFadden &
Successors te
COTTON MERCHANTS
COPELAND A CO..
PHILADELPHIA.
an
Commission Merchants.
COTTON, GRAIN, PROVISIONS and COFFEE
Bro.,
NEW YORK.
Liverpool Correspondents:
FREDERIC ZEREGA A OO
Bremen
Correspondents:
MCFADDEN BROTHERS A OO.
Havre Correspondents:
booiete d ’Importation et de commis*n
.
$2,500,000
COTTON EXCHANGE BUILDING.
NEW YORK.
UHRLAUB, Vice-President.
GWATHMEY &, CO.
Vice-President.
Vice-President.
COTTON MERCHANTS
DAWES, Cashier.
L. D. SKINNER. Amt. Cashier.
WILLIAM W GATES. Asst. Cashier.
JOHN W. THOMAS, Asst. Cashier.
ALBERT G. MANG,
Secretary.
MALOOLM MeDOWkLL. Asst. Secretary.
WILLIAM G. EDENS, Asst.
JOHN L. LEHNHARD, Asst. Trust Offloer.
SeSSarr7
BANKING, SAVINGS AND TRUST
Breckinridge Jones, President.
Wm. G. Lackey, Vice-President and Bond Offloer
W. J. McBride. V.-Pres. Haskell ds Barker Car Oe
Nelson W. McLeod, Vloe-Presldent Grayson-
DISCOUNT AND HUARANTEE SALES
OBARUSS O. DAWES, President.
JEJLLJAM
T. ABBOTT.
WILLIAM R.
John I. Beggs. President Milwaukee Light Heat *
Traction Co.
Wilbur F. Boyle. Boyle A Priest.
James E. Brock. Secretary.
Murray Carle ton, President Carleton Dry Goods Oa
Charles Clark.
Horatio N. Davis. President Smith&Davls Mfg.Oa.
John D Davis, Vice-President.
David R. Francis, Francis, Bro. A Co.
S. E. Hoffman, Vice-President.
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
future
A.
A GENERAL FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
General Offices, 57 Greene Street
4S Cotton Exchange
New York.
CENTRAL
Orders lor
delivery contracts executed
TRUST COMPANY the New York and Liverpool Cotton Exohangea.
OF ILLINOIS
R. H. ROUNTREE & CO.,
-
jvtfl
NEW YORK
COTTON BROKERS.
Capital and Surplus
ear*
L. F. DOMMERICH & CO.
$2,000,000
$2,000,000
CHICAGO
lao
PROFITs]*°*OW*WU
(bottom.
Rhode Island Hospital
Trust Company
CAPITAL
SURPLUS
Edward J. Berwlnd,
Randal Morgan,
Edw. T. Sto tee bury,
Charles E. Ingeraoll.
John S. Jenks Jr.,
John A. Brown Jr.,
John B. Garrett,
William H. Gaw,
Francis I. Go wen.
Geo. H. McFadden,
and
DIRECTORS.
as
E. B. MORRIS, President.
W. N. ELY, 1st Vice-President.
A. A. JACKSON. 2d Vice-President.
O. J. RHOADS, 3d Vloe-Pres, and Treasurer.
E. S. PAGE, Secretary-
HENRY G. BRENGLE. President.
JOS. S. CLARK. Vloe-President.
OHAS. P. LINEAWEAVER. See. A Treat.
ADAM A. STULL. Chairman of Board.
John Cadwalader,
E. W. Clark Jr..
CAPITAL. SURPLUS
Individual and
on
Corporation Accounts.
Trustee of Corporation Mortgages.
Depositary under Plans of Reorganization.
Registrar and Transfer Agent.
Assumes entire charge of Real Estate,
Safes to Rent in Burglar-Proof Vaults.
508-605-50T Chestnut St.. Philadelphia
J. Levering Jones.
Maloolm Lloyd.
or
Corporations.
The Trust Company
of North America
DIRECTORS.
Fourth & Pine Sts., St. Louis.
CHARTERED 18S«.
Acts
Assignee and Receiver.
Financial Agent for Individuals
CAPITAL
Mississippi Valley Trust Co.
$10,000,000
Eugene V. R. Thayer
David R. Whitney
George Wiggles worth
Henry G. Brengle.
Jamas Crosby Brown.
$12,500,000
DIRECTORS.
22
Exchange Place,
-
-
NEW YORK
Siegfr. Gruner & Co.
COTTON MERCHANTS
17 South William
Street,
NEW TORK.
Mason Smith & Co.,
ROBERT MOORE & CO.
OOTTON COMMISSION MERCHANTS
S6 Beaver Street. New York.
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW YORK AND LIVERPOOL
NEW ORLEANS, LA.
MEMPHIS, TENN.
DALLAS, TEX.
EXCHANGES.
OOTTON PURCHASED FOR SPINNERS' USB.
Buyers of Spot Cotton. Orders for Contracts
outed In New Orleans, New YoCk|
Liverpool and Havre Markets.!
[VoL.
THE CHRONICLE
XX
WOODWARD
& STILLMAN
COTTON MERCHANTS
16 to 22 WILLIAM
E. H.ROLLINS & SONS
Fversz 6 Company
GRADES SUIT¬
SPINNERS.
AMERICAN COTTON OF ALL
Established 1876
bankers;
STREET,
NEW YORK
ABLE TO WANTS OF
IPwanxial.
fjtttatucial.
ffiortiom.
RAILROAD
MUNICIPAL
PUBLIC UTILITY
BONDS
Negotiate and Issue Loans for Rail¬
roads and Established Corporations.
Buy and sell Bonds suitable for
Investment.
Established in 1850.
Henry Hentz & Co.
206 LA SALLE ST. CHICAGO
Fiscal Agent
COMMISSION MERCHANTS
16 to 22 William Street, New York.
Eeeeute Orders for Future Delivery
At the
corroN
New York. Liverpool and New Orleans
Cotton Exchanges. Also orders for
COFFEE
At the New York Coffee Exchange
ORAIN AND PROVISIONS
at the Chicago Board of Trade and
ORAIN AND COTTON-SEED OIL
At the New York Produce Exchange
Hubbard Bros. & Co.
LXXXX1.
for Cities and Corporation*
List
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION ft RAILROAD BONDS.
COFFEE EXCHANOE BUILDING
on
Application
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
SEND FOR CIRCULARS.
HANOVER SQUARE.
NEW YORK
PEABODY, HOUGHTELING & CO.
COTTON MERCHANTS
181 La Salle Street.
Liberal Advances Made on Cotton
Consignments.
CHICAGO.
F. H. PRINCE & CO.
BANKERS
[BnablUhad 1IUJ
Hopkins, Dwight & Co.
COTTON
and
COTTON-SEED OIL.
BOSTON, Mass.
GEO. H. BURR & CO*
HIGH-GRADE INVESTMENTS
BANKERS
COMMISSION MERCHANTS
!
Commercial
Room 62 Cotton Exchange Building,
NEW YORK.
43
Exchange Place
Paper
New York
Member* of New York and Boston Stock Bxehanc**
LEHMAN. STERN & CO., Limited. New Orleans.
LEHMAN BROS.
Nos. 16-22 William Street. New York.
Members oj the Stock, Cotton,
and Produce Exchanges, New
Cofjee
York.
Orders executed on the above Exchanges, as well in
New Orleans. Chicago and foreign markets.
Chicago
Boston
SL Louis
’hiladelphia
Kansas City
San Francisco
Gfivw&idffelkAweAfix
Sullivan Brothers & Co.
Stephen M. Weld & Co.,
Municipal and Corporation Bonds
BONDS
COTTON MERCHANTS,
FIRST NATIONAL BANK BLDG..
82-92 Beaver
Street,
-
New York City
427
CHICAGO
CHESTNUT
Member,
Liverpool. WELD & CO.
Bremen. ALBRECHT. WELD & CO.
Chas. S. Kidder & Co.
SMITH & HAYNE
MUNICIPAL & COR¬
PORATION RONDS
Commendum)
Cotton Brokers,
COTTON EXCHANGE BUILDINO.
NEW ORLEANS, LA.
182 LA SALLE
STREET,
STREET
PHILADELPHIA, PA.
BOSTON. PHILADELPHIA, PROVIDENCE
Frank B. Hayne (in
—
York Stock Exchange
( Philadelphia
(Established 1868.)
W. T. HATCH 6, SONS
BANKERS AND BROKERS
CHICAGO
71
FOR FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS, NEW YORK
AND LIVERPOOL MARKETS.
Broadway,
-
Naw Ytrk
ORDERS
(Other cotton cards
on
preceding oage.l
Devitt, Tremble & Co.
fptmtjciai.
BONDS FOR INVESTMENT
The Audit Company
of New .York
FIRST NATIONAL BANK BLDG.,
CHICAGO
City Investing Building
165 Broadway, New York
PHILADELPHIA
MEMBERS OF
NEW YORK STOCK EXCHANGE.
HOLLISTER, FISH & CO
BANKERS
Members New York Stock Exchange
Investment Securities
PHI LA. NATIONAL BANK BLDG.,
Nasaau
Telephone 6780 Cortland.
New York Life
Appraisals of values of lands, buildings,
machinery, etc.
Financial and cost systems of accounts.
Pina
Straata, N. Y
DominicK & DominicK
Building, Chicago
Audits and examinations.
A
H- T, HOLTZ & CO-
116 BROADWAY
Member* New York Stock Exchange
MUNICIPAL AND
CORPORATION BONDS
United Bank Note Corporation Stocks
FIRST NATIONAL BANK
RICHMOND. VIRGINIA
Capital and Earned Surplus,
$2,000,000
JOHN B. PURCELL, President
JOHN M. MILLER JR.. V.-Prest. & Cashier
FREDERICK E. NOlTING. 2d Yloe-Prett
Correspondence Invited
Correspondence Invited
171 LA SALLE STREET, CHICAGO
DICK BROTHERS & CO.
BANKERS AND BROKERS.
80 Broad St.,
New York.
Members of N. Y. and Phlia. Stock Exchange*
New York, New Orleans and Liverpool Gotto a
,
Exchangee. New York Coffee Exchange
aod Chicago Board of Trade.
@FedFRASER