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onunerciHlj
IN C L U D IN G
Bank & Quotation Section
Railway & Industrial Section
Railway Earnings Section
Bankers’ Convention Section
SATURDAY, DECEMBER 18 1909.
VOL. 89.
Electric Railway Section
State and City Section
NO. 2321.
Week ending December 11.
Clearings at—
Inc. or
Dee.
PUBLISHED W EEK LY .
T e r m s o f S u b s c r ip t io n — P a y a b le in A d v a n c e
F or O n o Y e a r ......................................................................................... ...............$10 00
F o r S ix M o n th s ..........................................................................................................
0 00
E u rop ean S u b s cr ip tio n (in c lu d in g p o s t a g e ).........
.
. 13 00
7 50
E u rop ean S u b s crip tion six m on th s (in clu d in g p o s ta g e )..........................
A n n u a l S u b s crip tio n in L on don (in c lu d in g p o s t a g e )............................... £ ‘2 1 4 s.
S ix M on th s S u b scrip tion in L o n d o n (in clu d in g p o s t a g e ).........................£1 1 1 s .
Canadian S u b s cr ip tio n (in c lu d in g p o s t a g e ) ................................................. $11 50
S u b scrip tion in clu d es f o llo w in g S u p p lem en ts—
H •n k a n d Q u o t a t io n (m o n th ly )
I S tate a n d c i t y (sem i-an n u a lly)
K a iia v a y a n d INDUSTRIAL (q u a rte rly) ELECTRIC R a il w a y (3 tim es yearly)
R a il w a y e a r n in g s (m on th ly )
| b a n k e r s ’ C o n v e n t io n (y e a rly )
T e r m s o f A d v e r tis in g — P er In c h S p a c e
T ra n sie n t m atter p er in ch space (14 agate l in e s )..........................................
( T w o M on th s
(S t im e s )...............................
S
nn
d in
in g
g B
M t]ls
onths (13
)...............................
mta
an
Bu
u sin
sin ess
ess Cards
c a r d s •’ T
s ihxree
M on
( o () tt im
im ee ss )...............................
$ t
22
20
50
20
00
00
00
(. T w e lv e M onths (52 t im e s )............................. 87 00
C H IC A G O O F F I C E —P . B a r t le t t ,513 M o n a d n o ck B lo ck ; T el. H a r ris o n 4012.
L O N D O N O F F I C E —E d w ard s & Sm ith, 1 D ra p e rs’ G arden s, E. C.
t V I L L I A I i l IS. D A N A C O M P A N Y , P u b l i s h e r s ,
P. O . Ilox 9 5 8 .
F ront. Pine and D cpeystor S ts.,
New Y o r k .
P u b lis h ed e v e r y S atu rda y m o rn in g b y W I L L I A M B. D A N A C O M P A N Y
W illia m B. D ana, P resid en t; J a c o b S eibert J r ., V ic e -P r e s . and See.: A rn old
G. D ana, Treas. A d d resses o l a ll,O ffice o f th e C om pany.
C L E A R I N G -H O U S E R E T U R N S .
The following table, made up by telegraph, &c. , indicates
that the total bank clearings of all clearing houses of the U . S.
for week end. Dec. 18 have been $3 ,596,669,281, against $3 ,
474,594,081 last week and $3,348,117,508 the week last year.
Returns bp Telegraph— Week end. Dec. 18
New Y ork ..........................
B o s to n .................................
P h iladelphia......................
Baltimore_______________
Chicago ........................ ......
St. Louis________ ______
New Orleans_____ _______
1909.
$1,842,929,799
146,616,102
149,393,124
28,777,981
255,023,381
69,541,805
21,855,979
1908.
Per Ct.
S I,775,710,709
135,4.39,159
115,233,976
23,407,255
222,757,470
01,244,9.39
17,821,502
+
+
+
+
+
+ 3 .3
+ 8.3
29.6
22.9
14.5
13.5
22.6
Seven cities, 5 d ays____
Other cities, 5 days______
$2,514,138,171
481,493,687
$2,351,615,010
434,018,419
+ 6 .9
+ 10.9
Total all cities, 5 days.
All cities, l day ..................
$2,995,631,858
601,037,423
$2,785,633,429
560,484,079
+ 7.5
+ 7 .2
$3,590,669,281
$3,346,117,508
+ 7.5
The full details for the week covered by the above will be
given next Saturday. W e 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 go to press Friday night.
W e present below detailed figures for the week ending with
Saturday noon, Dec. 11, for four years.
Week ending December 11.
Clearings at—
1908.
New Y ork ______
Philadelphia____
Pittsburgh--------B altim ore...........
Buffalo..................
Albany..................
W ash in gton -----R och ester...........
Scran ton ..............
Syracu se..............
W ilm ington.........
Reading________
Wilkes-Barre . .
Wheeling ...........
Harrisburg . _ __
Trenton _______
Y o r k ........... ........
F .rlc....... ............ ..
C h ester________
G rccnsburg_____
B ingham ton____
A ltoon a ................
F ran k lin ..............
Inc. or
Dec.
S
S
$
T‘ 8.4 1,305,346 ,842 !,209,155,721
,171,804,527 2,004,408,404
110,402 211
157,571,857
121,531,404 + 29.7
153,427,721
50,020,888
39,798,705 + 25.7
40,555 ,279
62,472,748
34,956,634
27,130,017 + 28.8
25,850 ,887
30,717,722
9,448,170
7,932,700 + 19.1
7,703 ,230
8,733,048
0,009,740
4,079 ,204
0,704,440
— 9.5
7,178,131
7,701,088
0,252,011 + 24.1
5,155 ,059
0,381,175
3,884,784
3.415,738 + 13.7
3,851,774
3,395 ,510
2,909,282
2,552,917 + 10.3
2,384 ,463
1,904,972
2,045,068
1,882,753
+ 8.7
1,923 ,041
1,010,501
1,648,194
1,222,729 + 3 4 .8
1,201 ,407
1,408,050
1,560,449
1,308,043
14.5
1,359 ,735
1,284,134
1,519,392
1,247,410
21.8
1,090 ,147
1,134,091
1,024,890
1,384,031
17.3
1,212 ,900
1,171,122
1,300,000
1,050,000
23.8
945, ,058
959,230
1,017,900 + 43.2
2,310,897
790,719
22.4
978,943
730,097
005,979
+ 7.5
715,235
084,095
739,032
485,510 + 27.4
018,817
508,885
600,257
494,348 + 50.8
745,330
491,118
540,003
502,400 — 11.1
440,400
477,600
489,600
— 1.0
403,920
400.000
428,014
+
2.6
305.000
297,390
251,624
256,709
C h icago_______
Cincinnati_____
C levelan d_____
D etroit________
Milwaukee_____
Indianapolis__
C olum bus.........
T o le d o ................
Peoria ................
Grand (Rapids. .
D a y t o n .............
E v a n s v ille ____
K alam azoo____
Springtield, 111 .
Lexington_____
Fort W a y n e ___
Youngstow n___
Rockford .........
Canton........... ....
Ak o n ________
Bloom ington____
Q uincy-------------South Bend____
Sprlnglleld.iO ...
D e ca tu r..............
Mansfield_______
Jackson..............
Danville________
Jacksonville, 111.
Ann Arbor______
Adrian ...............
L i m a ___________
S
187,842,146
20,069,900
14,805,267
13,799,372
10,643,813
0,19.8,829
4,620,700
3,473,53"
2,254,385
2,051,715
1,451,441
1,989,973
939,432
809,328
020,G09
028,739
505,413
690,422
488,701
405.000
393,336
390,648
340,197
.374,312
339,448
226,063
271,635
314.522
264,965
147,896
14,986
275.000
S
231,365,446
25,355,300
17,357,412
14,618,785
10,702,613
8,568,880
5,617,800
4,321,756
.3,869,301
2,438,105
1,969,678
1,786,489
1,201,792
859,292
802,133
792,259
714,067
757,568
728,298
798,875
453,503
439,418
464,548
442,4G6
433.450
367,724
339,742
324'306
147,443
385,792,004
362,058,269
+ 6.6
278,436,688
337,835,143
41,168,234
15,170,960
12,070,501
5,290,801
7,730,227
8,852,872
5,780,093
1,990,313
800,983
1,301,913
1,186,235
1, 100,000
850,000
680,952
588,009
712,803
.508,205
231,374
37,147,617
11,656.370
9,325,096
3,876,343
7,187,072
6,990,095
5,089,938
1,518,985
918,071
980,648
840,967
800,000
765,000
546,032
502,480
617,963
300,000
238,149
+ 10.8
+ 3 0 .2
+ 2 9 .6
+ 36.5
+ 7 .0
+ 26.6
+ 13.6
+ 31.1
— 12.8
+ 32.8
+ 41.1
+ 37.5
+ 11.1
+ 2 4 .7
+ 17.0
+ 15.3
+ 6 9 .4
— 2.8
29,966,479
7,281,386
8,315,112
2,917,745
2,712,419
4,946,031
4,922,922
1,457,531
800,972
725.000
766,295
47,439,480
13,215,221
10,109,879
2,863,544
8,656,920
7,308,173
4,889,005
3,551,438
1,289,913
560,666
329,731
350.000
450,082
262",467
T otal'P aclflC --
100,027,195
89,301+26
Kansas C i t y ____
Minneapolis_____
Omaha..................
St. Paul............. ..
Denver_________
St. Joseph...........
Des Moines.........
Sioux City...........
W ich ita................
Lincoln ________
Topeka ________
D avenport______
Cedar Rapids . . .
Colorado Springs.
Pueblo ................
F r e m o n t.............
D uluth..................
726",269
+ 18.7
66,051,623
100,762,391
47,581,042
40,321,601 + 18.0
21,041,705
— 8 ."
23,002,026
13,059,074
— 2.7
13,421,768
10,230,504
9,828,869
+ 4.1
9,272,237
— 5.8
9,847,822
0,136,524
+ 5.3
5,826,613
3,395,803
3,017,008 + 12.5
2,551,870
— 9.3
2,813,201
2,858,372
1,088,003 + 69.3
1,360,566
+ 6.7
1,275,520
1,300.724
1,127,110 + 15.3
1,450,000
1,001,280 + 44.8
1,387,916
906,571 + 53.1
874,597
781,252 + 11.9
+ 2.7
564,020
549,851
249,044
412,465 — 39.6
4,903,641 Not Included In total
30,601,840
25,067,44.8
10,719,931
11,41.3,149
7,670,801
3,948,876
2,505,2.33
2,089,358
1,260,889
1,268,494
1,068,901
865,222
788,967
700,852
540,041
328,242
31,910,905
24,116,232
11,127,789
9,299,913
8,218,121
5,602,570
2,675,000
2,114,992
1,291. ISO
1,308,846
968,275
855,209
689.431
828,67.3
698,652
321,263
+ 6.4
100,898,244
101,937,051
71,322,854
— 1.3
20,181,300 + 23.0
14,641,707
+ 5.3
— 3.2
15,598,285
8,226,500
— 3.8
7,047,497 + 20.8
6,582,127 + 15.2
6,070,917 + 126.8
6,444,260 + 3 4 .0
4,899,195 + 29.3
2,722,861 + 50.4
2,996,141 + 25.9
2,352,886
+ 4 .1
2,083,370 + 2 9 .3
1,671,227 + 3 4 .8
1,607,007
+ 5.5
1,765.567 + 17.4
1,390,048
+ 2.5
1,565,267
+ 5 .1
1,485,015 +.37.5
1.313,2.38 + 7 5 .0
711,463 + 45.3
965,67.3 + 3 4 .6
653,173
+ 3 .1
636,935 — 37.1
59,187,714
21,697,763
8,781,434
10,29.3,064
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
2,464,648
1,4.37,424
1,298.087
1,476,312
1,516,541
1,367,483
1,540,018
757,464
581,771
694,783
390,000
606,475
66,223,217
28,263,780
13,622,052
14,544,890
8,950.500
6,932,080
6,916,573
5,955,529
4,236,301
5,844,807
3.800.757
3,486,217
2,177,291
1,929,419
1,459,403
1,526.377
1,900,550
1,931,606
1.636.758
1,696.729
1,187,075
159,395,047
185,477,451
Tot. oth.'W est.
123,315,588
St. Louis_______
Now Orleans____
L o u isv ille...........
H o u s t o n _______
G alveston ______
Richmond _____
M em phis_______
A tla n ta ________
Fort W orth.........
Savannah ...........
Nashville ...........
N o r fo lk ........... ..
Birm ingham ____
Augusta________
Jack son v ille____
Chattanooga __
Little R ock .........
M o b ile....... ..........
K n o x v ille ...........
Charleston______
O klahom a......... ..
A u stin ..................
M a c o n __________
Beaumont .........
V icksburg----------
70,360,571
24,823,582
15,422,334
15,058,658
7,915,500
8,513,987
7,579,481
*13,768,590
8,630,829
6.332.000
4,094,391
3,770,105
2.450.000
2,694,507
2,252,901
1,695,770
2,072,530
1,424,331
1,645,852
2,042,400
2,298,237
1,033,615
1.300.000
673,449
400,653
Total Southern
208,206,414
115,881,626
855,183
400,000
184,934,50.3
+ 12.6
Total all............ 3,474,594,081 3.177,020.555
+ 9 .4
,272,560,807 3,464,531,698
Outside N. Y . 1,302,099,554 1,172,552,091
+ 11.1
967,213,965 1,195,375,977
Canada—
105,705,414
8,182.300
4,140,384
2,075,010
2,275,000
1,040,251
1,658,159
1,542,609
1,437,454
513,024
546,154
170,323,031
7,210,900
3,450,086
2,353,166
1,835,197
1,713,282
1,018,758
1,338,097
885,124
450,705
440,995
— 2.7
+ 13.4
+ 20.0
+ 13.7
+ 24.0
— 4.3
+ 2.4
+ 15.2
+ 62.4
+ 1 2 .5
+ 23.8
124,352,663
7.213.000
3,097,504
2,235,222
1.775.000
1,705,178
1,385,800
1,001,342
730,508
572,705
446,339
169,855 828
9,800 000
3,609 547
2,457 240
2,210 ,270
1,003 002
1,588 ,387
1,336 ,133
930 714
545 575
493 293
Total New Eng
190,370,119
191,031,931
—0.7
144,574,333
194,435,995
Total Canada.
%
+ 4.2
+ 2.9
+ 22.0
+ 14.6
+ 2.1
+ 2.2
+ 50.7
+ 24.1
+ 2.4
+ 19.2
+ 11.3
+ 10.2
+ 26.4
+ 13.3
+ 41.1
+ 19.0
+ 56.8
+ 24.0
— 0.7
+ 6 5 .3
+ 2.0
+ 4.5
+ 3 0 .2
+ 6.8
— 4.9
+ 19.4
— 2.0
+ 24.8
+ 34.6
+ 22.3
+ 2 4 0 .0
+ 19.8
Tot. Mid. West
M ontreal..............
Toronto _______
W innipeg........... ..
Vancouver______
Ottawa ........... .. _
Q uebec..................
H a lifa x ..............
C a lga ry................
St. John........... ....
Ham ilton_______
f London - ..............
1 Victoria ..............
Edm onton............
Regina ................
+ 10.2 1,523,204,872 2,544,083,007
2.57.433,228
27,069,300
14,317,326
13,408,422
12,514,886
9,070,032
5,209,900
3,117,247
3,557,092
2,093,720
1,962,515
1,905,478
1,094,324
985.000
794,368
860,287
723,985
00 LOGO
664,510
505.000
492,552
536,603
402,728
412,207
513,403
340,652
325.000
326,471
286,500
176,345
15,316
263,481
San Francisco__
Los Angeles_____
Seattle ________
Spokane................
Salt Lake C it y ..
P o rtla n d _______
T a co m a ________
Oakland________
Helena ........... ..
S a cra m e n to ____
Fargo __________
San D iego...........
Sioux Falls_____
Stockton ..............
San Jose________
F resno_________
North Yakim a. .
B illin g s........... ..
Boston ................
P roviden ce_____
H artford..............
Hew H aven.........
Springtield...........
P o rtla n d _______
W orcester......... ..
Fall Itlver______
New Bedford____
Lowell - I . ; ______
H o ly o k e .-...........
Total M id dle.. 2,400,816,491 2,233,152,800
268,199,004
27,868,200
17,405,476
15,369,981
12,782,207
9,272,204
7,850,100
3,868,130
3, G11,915
2,495,383
2,183,787
2,099,312
1,383,004
1,110,050
1,120,024
1,023,117
1,134,332
085,711
600,000
934,320
502,630
560,770
547,535
440,400
488.328
406,680
318,503
407,138
384,543
215,600
52,997
314,545
.30,015,450 + 3 9 .7
41,943,061
29,088,293 + 16.9
33,994,080
19,143,826 + 2 5 .9
24,105,85.3
3,915,211 + 9 2 .6
7,540,001
2,930,054 + 21.6
3,571,434
2,392,082
2,513,907
+ 5.1
1.990.943
2,001,225
+ 3 .6
2,025,180
1.794.944 + 46.3
1.637,297
1,61.3,509
— 0.4
1,532,111 + 20.8
1,850.528
1,449,685
1.352,501
+ 7.2
1,088,427
1,113,401 + 51.6
1,251,102
971,559 + 2 8 .8
1,099,0"" Not Included In total
126.231,780
97,890,064
+ 2 9 .0
32,363,780
23,948,913
14,104,632
3,571,881
3,356,744
2,264,411
1,948,010
1,292,740
1,209.982
1,590,229
1.234.975
1,081,8.34
761,911
33,280,180
26,537,876
13.419,271
3,478,275
.3,083,246
1,836,587
1,823,987
1.559,342
1.291.978
1,90S ,554
1,228,870
1,113,144
849,635
88jS55,6G0
W"4 4 -r
91,410,945
* This year's clearing! cm ! Icrably Increased by out-of-town clearings departmen
1562
THE CHRONICLE
a n y a d o re d u c e d , w h ile th e 4 %
OUR RAILWAY EARNINGS ISSUE.
W e se n d t o o u r su b scrib ers t o - d a y
ra te w as still e v e r y
w here p re v a le n t, a n d th a t tw o o th e r in stitu tio n s o f
th e D e c e m b e r
n u m b e r o f ou r “ R a ilw a y E a r n in g s ” S e c t io n .
[V O L . L X X X I X .
I n th is
v e r y m od est size h a v e lik ew ise ta k en th a t cou rse, is
t o ou r m in d p r o o f o f th e co r r e c tn e s s o f th is v ie w .
p u b lic a t io n w e g iv e th e figu res o f ea rn in g s a n d ex p en ses
T h e 4 % ra te h a d b e c o m e a m a tte r o f ro u tin e .
fo r th e la te st m o n th o f e v e r y o p e r a tin g ste a m ra ilro a d
th a t a tte n tio n is b e in g d ire cte d t o th e n ecessity fo r
in th e U n ite d S ta te s , b ig a n d little , w h ich is re q u ire d
d e v ia tin g fr o m it, w e m a y b e sure th a t n o t m a n y m ore
t o file m o n th ly retu rn s w ith th e In te r -S t a t e C o m m e rce
sem i-an n u al p eriod s w ill elap se b e fo r e th e grea t b u lk
C om m is sion a t W a s h in g to n — a lto g e th e r o v e r 800 ro a d s
o f all th e in stitu tion s w ill fall in line.
o r sy s te m s , co m p r is in g an a g g reg a te o f m o re th a n
2 3 0 ,0 0 0 m iles o f lin e.
N ow
T h e in terest a llow ed to d e p o sito rs m u st c o m e eith er
o u t o f cu rren t p rofits o r o u t o f p a st a ccu m u la tio n s o f
su rp lu s.
THE FINANCIAL SITUATION.
U n fo r tu n a te ly th e la tter is n o t large en ou g h
t o a d m it o f a n y fu rth e r d ra fts on th e sa m e, w h ile
A n im p o r ta n t e v e n t o f th e w eek , in d ic a tin g
th e
cu rren t p rofits, b a sed o n th e ra te o f in c o m e r e ce iv e d
d im in ish in g ra te o f retu rn on g ilt-e d g e d in v e s tm e n ts ,
on in v e stm e n ts, are, as w e h a v e seen , on a d im in ish in g
is th e a c tio n o f several sa v in g s b a n k m a n a g em en ts in
b a sis.
a n n o u n cin g a r e d u ctio n on J a n . 1 in th e ra te o f in terest
on a 3 ) 4 %
a llo w e d to th eir d e p o sito rs fr o m 4 %
in terest
334% *
p er an n u m t o
U p to th e p resen t tim e e v e r y sa v in g s in stitu
A n o th e r fa c t is w o r th b ea rin g in m in d .
E ven
in terest b a sis th e p rofits w h ich su ch an
a llow a n ce
represen ts
m u st
be
con sid ered
la rg e, h a v in g d u e reg a rd t o th e p r o fit d istrib u tio n s o f
tio n in N ew Y o r k C o u n ty an d also in K in g s C o u n ty ,
oth e r classes o f fin an cial in stitu tio n s.
Q u een s C o u n ty , R ic h m o n d C o u n ty an d W e stch e ste r
seen th e p o in t here m a d e p u b lic ly referred t o , b u t it
C o u n ty — th a t is, e v e r y sa v in g s b a n k in o r n ear this
w as b r o u g h t t o o u r n o tic e th e o th e r d a y in a co n v e rs a
c it y — has b een p a y in g 4 % .
tio n w e h ad w ith M r. S ty le s, th e
N o w th e B o w e r y S a v in g s
W e h a v e n ev er
P resid en t o f th e
B a n k , th e largest o f all th e sa v in g s b a n k s, h o ld in g on
N orth R iv e r S a v in g s B a n k .
J u ly 1 1909 $ 1 1 9 ,1 7 6 ,2 8 0 o f d e p o sits , has a n n o u n ce d
S ta te are m u tu al in stitu tio n s, th a t is, h a v e n o ca p ita l
a r e d u c tio n t o 3 3 4 % -
s to c k , an d all th eir p ro fits w h ich it is d e e m e d safe to
W h e n an in s titu tio n o f su ch
S a v in g s b a n k s in th is
m a g n itu d e ta k es a step o f th is k in d it is o b v io u s ly
d istrib u te , g o to th e d e p o s ito rs .
h ig h ly sig n ific a n t; b u t tw o o f th e sm aller in stitu tio n s,
reverse w ere th e case.
n a m e ly th e N o rth R iv e r S a v in g s B a n k an d th e U n ion
m erca n tile in stitu tio n s, th ere w ere a s to c k
S quare
an d th e p rofits w en t t o th e sh a reh old ers in stea d o f t o
S a v in g s
B ank,
th e
one
h o ld in g
$9 ,2 1 0 ,4 7 1
d e p o s its J u ly 1 an d th e oth e r $ 1 0 ,5 7 4 ,4 8 8 , h a v e tak en
th e d e p o sito rs .
sim ilar a c tio n .
M r. S ty le s,
T h e re are also re p o rts th a t th e D ry
D o c k S a v in g s I n s titu tio n , w ith $ 3 9 ,2 4 2 ,6 8 2 d e p osits ,
S u p p o s e n ow
th e
S u p p o s e t h a t, as in th e ca se o f
lia b ility
I n th a t e v e n t, it is p o in te d o u t b y
his b a n k ,
w ith $ 9 ,0 0 0 ,0 0 0 o f d e p o sits ,
w o u ld h a v e (b a sed on th e c u s to m a r y rela tion b etw een
w h ose tru stees m eet n e x t T u e s d a y , w ill lik ew ise m a rk
d ep osits an d ca p ita l s to c k ) an o u ts ta n d in g sh are ca p i
its ra te d o w n fr o m 4 % to 3 ) 4 % .
ta l o f a b o u t $ 5 0 0 ,0 0 0 .
T h is is a cou ra g e o u s m o v e an d e n tire ly ju stifie d .
T o p a y 3 3 4 % in terest o n th e
$ 9 ,0 0 0 ,0 0 0 o f d e p o sits h eld b y th e N o t h R iv e r S a v in g s
W e m a y g o fu rth e r an d sa y th a t th o se w h o are in iti
B a n k m eans a d is trib u tio n o f p r o fits , as ca n rea d ily be
a tin g th e m o v e m e n t d eserv e g rea t p raise fo r lea d in g
figured o u t,
th e w a y .
S a v in g s b a n k s are restricted ' b y law (an d
$315 ,0 0 0 w ere a p p lied t o d iv id e n d s o n th e assu m ed
n ecessa rily so ) t o in v e stm e n ts o f th e v e r y ch o ice st
ca p ita l o f $ 5 0 0 ,0 0 0 in stea d o f in d iv id e n d s t o th e d e
k in d , a n d a m o n g th e classes o f secu rities in w h ich
p o sito rs, it w o u ld m ean p a y m e n ts o f o v e r 6 0 %
t h e y are a llow ed t o e m p lo y th eir fu n d s th ere are n on e
th e s to c k — o b v io u s ly
t o -d a y , ou tsid e o f real esta te m o rtg a g e s, w h ich ca n b e
I t w ill th u s b e seen th a t as th in g s g o n o w a d a y s in th e
c o u n t e d on t o y ie ld 4 % p er a n n u m , w h ile th e m o st o f
finan cial w o rld
th e m w ill y ie ld v e r y m u ch less th a n th a t.
con sid ered as fa rin g b a d ly ev en w h en th e y g e t o n ly
S om e of
o f $ 3 1 5 ,0 0 0 p e r a n n u m .
I f n ow
th is
on
an e x c e e d in g ly liberal retu rn .
sa v in g s
bank
d e p o sito rs
can not
be
bond
issues
3 )4 % ,
w h ile
3 ) 4 % on their m o n e y .
B u t it is th e la ck o f g r o w th in th e su rplu s o f th e sa v
N ew Y o r k S ta te la st A p ril sold $ 1 0 ,0 0 0 ,0 0 0 3s o n an
ings b an k s th a t is fo r c in g th e h ands o f th e m a n a
in c o m e basis o f o n ly 2 .9 5 7 % .
gers an d tru stees o f th ese in stitu tio n s.
th e
ch o ic e s t
ca n n ot
N ew
be bought
E n g la n d
to
n et
m u n icipa l
m ore
th an
D u rin g th e p e rio d o f
T h is p o in t
d is tu r b e d c o n fid e n ce tw o a n d th ree y ea rs a g o savin gs
has n o t as y e t r e ce iv e d th e co n sid e ra tio n w h ich it
b a n k in v e stm e n t secu rities c o u ld b e b o u g h t to y ie ld
m erits.
m u ch b e tt e r ra tes, b u t th a t tim e is p a s t.
T h ere is s ca rce ly a sa v in g s b a n k in th e c it y
T h e low er
w h ose a ccu m u la te d su rp lu s is m u ch larger to -d a y th an
in g o f th e ra te o f in terest on sa v in g s d e p o s its is a re co g
it w as ten y ea rs a g o, a n d y e t in th e in terv a l th e v o lu m e
n itio n o f th e situ a tio n an d an e ffo rt t o c o n fo r m t o it.
o f d ep osits has d o u b le d o r m ore th a n d o u b le d .
T h e 4 % r a te has e x iste d fo r so m e y ea rs an d as d e
It
w o u ld b e in v id io u s t o sin gle o u t a n y p a rticu la r in
p o s ito r s in th ese in s titu tio n s con sist m o s tly o f p erson s
s titu tio n fo r m e n tio n in th a t resp ect.
o f v e r y m o d e ra te m ean s, to w h o m a n y loss o f in co m e ,
ca te o u r m ea n in g b y ta k in g th e c o lle c tiv e results c o v
W e ca n in d i
h o w e v e r sm a ll, is a seriou s m a tte r— in v o lv in g in ;som e
erin g all th e sa v in g s in stitu tio n s in th e w h o le S ta te.
cases a ctu a l h a rd sh ip — th e tru stees o f th e b a n k s h a v e
F o r J u ly 1 1909 th e su rp lu s, on m a rk et v a lu e , o f th e
n a tu ra lly b een relu cta n t t o m a k e a d e p a rtu re .
sa vin gs b a n k s o f th is S ta te w as $ 1 0 8 ,7 5 7 ,4 3 7 .
I t is
su g g ested th a t th ere has also b e e n som e h e sita n cy
T e n and
a h alf y ea rs b e fo r e , o n J a n . 1 1899, th e su rplu s ca m e
a b o u t c u ttin g th e rate in th e ca se o f in d iv id u a l m a n a g e
w ith in $ 2 ,0 0 0 ,0 0 0 o f th a t a m o u n t, b e in g th en $ 1 0 6 ,
m en ts o u t o f a fea r th a t th e in stitu tio n ta k in g th e step
8 9 6 ,6 2 3 , b u t in this in te rv a l th e a g g reg a te o f d ep osits
w o u ld lose som e o f its d e p o sits .
has risen fr o m $ 8 1 6 ,1 4 4 ,3 6 7 t o $ 1 ,5 8 7 ,9 2 7 ,5 5 5 .
F o r ou rse lv e s w e
S u r
are in clin e d t o th in k th is last m u ch less o f an in flu en ce
plu s o u g h t m o st a ssu red ly t o b ea r som e m ore o r less
th a n is g en era lly s u p p o s e d .
d ire ct ra tio to d e p o sits , a n d s h o u ld g ro w in th a t ra tio
tu tio n
w ith
th e v e r y
T h e fa c t th a t th e in sti
la rgest d e p o sits
has w ith o u t
as th e d ep osits e x p a n d .
H ere, h o w e v e r, w e h a v e an
D ec . 18 1909, j
THE CHRONICLE
1563
a d d itio n o f 771 m illion dolla rs to th e d e p o sits w ith o u t
th e righ ts o f la b o r is in th e n ew spapers an d strik es are
a n y su b sta n tia l a d d itio n
so fre q u e n t, it m a y be assu m ed th a t n o b o d y o f w o r k
to
su rplu s.
T o see t o w h a t a low basis, re la tiv e ly , su rplu s has
been r e d u ce d , it is o n ly n ecessary to co n sid e r th e ra tio
a t p resen t e x istin g b etw een su rplu s a n d d e p o s its an d
c o m p a r e su ch ra tio w ith p a st ra tios.
W ith th e m a rk et
m en is o p p ressed w h ich has n o t d isco v e re d th e fa c t
fo r itself.
The
F e d e ra tio n
tira d e
d oes
y ie ld
on e
ch a rg e
w h ich a p p roa ch es definiten ess; th e S teel C o r p o r a tio n
v a lu e o f th e su rplu s n o w $ 1 0 8 ,7 5 7 ,4 3 7 a n d th e d ep osits
has n o t re a ch e d , a n d th erefore m u st be m a d e to re a ch ,
$ 1 ,5 8 7 ,9 2 7 ,5 5 5 , th e ra tio b etw een th e tw o is ju s t a b o u t
“ a rea lizin g sen se” o f its p r o p e r relation s t o o rg a n ize d
7^% .
la b o r .
w as
O n th e o th e r h a n d , on J a n . 1 1899 th e ra tio
1 3 .0 9 %
an d on J a n .
1 1889 it w as
1 7 .5 7 % .
T h is m ean s th a t o rg a n iz a tio n , n o t a n y on e
s te e l-w o rk e r o r th e b o d y o f steel-w ork ers, is op p re sse d ,
L e a v in g o u t th e p e rio d ju s t b e fo r e an d ju s t a fter th e
an d has th e re fo re d e cla re d w a r; it m ean s th a t th e o p e n
p a n ic in O c to b e r a n d N o v e m b e r 1907, w h e n secu rity
sh op is th e issue, a n d p r o p e r ly s o , sin ce this is th e d e
va lu es w ere a b n o rm a lly d ep ressed , th e ra tio n o w is
term in in g q u e stio n in th e p o w e rs o f a gen eral o rg a n iz a
a ctu a lly th e sm allest it has b een in o v e r th ir ty -fiv e
tio n .
y ea rs, or sin ce J a n . 1 1874.
sam e as o f e m p lo y e rs g e n e ra lly ; it has n o o b je c t io n t o
W e k n o w it is n o t th e p o lic y o f th e S ta te n ow to
T h e a ttitu d e o f th e S teel C o rp o ra tio n is th e
u n ion s an d w ill n o t d iscrim in a te fo r o r a gain st th eir
e n cou ra g e th e h o ld in g o f su ch large su rplu ses as e x
m em b ers, b u t insists u p o n th e rig h t t o m a n a g e its
isted a t so m e fo r m e r d a te s.
o w n business a n d m a in ta in fre e d o m o f c o n tr a c t.
B u t it is p la in th a t w ith
The
th e su rplu s d ra w n d o w n to its p resen t basis, ord in a ry
F e d e ra tio n , p r a c tic a lly M r. G o m p e rs a n d his fe w a sso
ca u tion su ggests th a t n o fu rth er e n cro a ch m e n ts o n it b e
cia tes, insists u p o n th eir v ie w o f p erson a l lib e r ty u n d e r
p e rm itte d b y th e p a y m e n t o f larger d iv id e n d s t o d e
th e C o n s titu tio n , w h ich m ean s lib e r ty o n th eir p a rt
p o sito rs th a n cu rren t in co m e w a rra n ts.
t o regu la te th e lib e r ty o f oth e rs.
A 3 ^ 4 % ra te
T h e o p e n s h o p w as
will d o u b tle ss a v e rt su ch a c o n tin g e n c y , w h ile a c o n tin
th e p o in t at issue in th e strik e at th e p la n ts o f th e
u a n ce o f th e 4 % rate w o u ld in e v ita b ly m ea n a still fu r
A m e rica n S h eet & T in P la te C o ., w h ich b e g a n on J u ly 1
th er im p a irm e n t, re la tiv e ly sp ea k in g , o f su rp lu s a c
an d w h ich is rea lly th e o c c a s io n fo r th e p resen t o u t
cou n t.
I t is h en ce clea r th a t th e lo w e r rate is b ein g
fo r c e d b y circu m s ta n c e s.
at issue.
N o q u e stio n o f s o lv e n c y is
g iv in g s.
T h e p r o n u n c ia m e n to o f th e F e d e ra tio n is an
o p e n co n fe ssio n th a t th e “ A m a lg a m a te d A sso cia tio n
T h e re has n o t b een a sa v in g s b a n k failu re
o f Ir o n , S teel & T in P la te W o rk e rs ” , w h ich b eg a n th a t
here in o v e r th ir ty y e a rs , an d n o b e tte r -m a n a g e d b o d y
strik e w h en th e T in P la te C o . d e cid e d t o ru n all its
o f finan cial in stitu tion s ca n b e fo u n d a n y w h ere in th e
p la n ts o n th e “ o p e n -s h o p ” ba sis, has been b e a te n , an d
w o rld .
th a t th e F ed era tion has n o w b een a p p e a le d t o t o ta k e
u p th e hopeless cau se.
B u t th is o n ly m akes it all th e m ore im p o r ta n t
th a t th e im p re g n a b le p o s itio n th e y n ow h o ld in p u b lic
co n fid e n c e , an d in in trin sic sou n d n ess, sh ou ld n o t b e
y ie ld e d u p b y u nw ise a c tio n o f a n y k in d .
I t is needless t o s a y again — w h a t c a n n o t be m a d e
b o ld e r o r clearer b y a rg u m en t— th a t th e o p e n s h o p
issue is fu n d a m e n ta l a n d v ita l.
B eca u se it is b o th c o r p o r a te an d la rg e, th e U n ite d
I t c a n n o t be su rren
d ered , sin ce su rren der o f it w o u ld y ie ld e v e r y th in g
S tates S teel C o rp o ra tio n n a tu ra lly gets its sh are o f th e
an d w o u ld set u p an o lig a r c h y , w ith in an d e v e n su p er
stream o f d e n u n cia tio n w h ich is still flo w in g ; a n d n o w
io r t o w h a t is n o m in a lly r e co g n iz e d as g o v e r n m e n t b y
th e A m e rica n F e d e ra tio n o f L a b o r (t o g iv e it th e fu ll
th e p e o p le .
p o m p o s it y o f its title) has p ro c la im e d an “ im m e d ia te
s u b je c t fo r th e a tt a c k , if a tt a c k m u st b e m a d e ; m o r e
p ressin g n e ce ssity ” ca u sed b y th e “ in d efen sib le h ostile
o v e r , it is e v id e n t th a t th ere is m e th o d in th e F ed era
a ttitu d e ” o f th e g reat c o r p o r a tio n .
T h e h o s tility a p
tio n ’s b ellicose a ttitu d e , a n d th a t it w ill tr y t o tu rn
pears to b e o n th e o th e r sid e , as th e d e cla ra tio n o f it
d e fe a t in to an e v a sio n b y w h ich it m a y k eep u p a p
c e rta in ly is; fo r th e F e d e ra tio n calls u p o n all u n ion s
p ea ra n ces fo r itself.
to sen d at least on e o rg a n ize r t o assist; te n -c e n t c o n
th e fa c t th a t th ere ca n be n o in d u stria l p e a ce sh o rt o f
B u t th e S teel C o r p o r a tio n is an e x c e lle n t
F o r it illu stra tes, u n in te n tio n a lly ,
trib u tio n s are rath er fr a n tic a lly ask ed fr o m e v e r y b o d y ;
a g en eral a n d a d m itte d se ttle m e n t o f th e o p e n -s h o p
cop ies o f th e d e cla ra tio n are to b e sen t t o th e P re sid e n t,
issue.
to M em bers o f C ongress a n d to E x e c u t iv e s o f S ta te s,
p rofession a l d istu rb er, w h o liv es o n ly b y d istu rb a n ce ,
an d th e a tta ck is t o be general a lo n g th e e n t re p o litic a l
c a n n o t p e rm it in d u stria l p e a c e .
lin e.
a g ita to r is d o u b tle ss p lea sa n ter a n d m ore p ro fita b le
T h is d e cla ra tion is fa u lty in n o t b e in g s p e c ific .
It
asserts th a t a crisis has arisen , th a t th e S teel C o r p o r a
U n til th e reig n in g o lig a r c h y is r e co g n iz e d , th e
The
o c c u p a tio n o f
th a n w o r k in g ; w ith o u t d istu rb a n ce , th ere w o u ld s o o n
be n o G o m p e rs.
tio n is seek in g to o b lite ra te m a n h o o d a n d d e s tr o y th e
o n ly d efen d er o f la b o r , a n d so o n , in th e u sual m a n n er
o f b a rrel-h ea d o r a to r y .
T h e first fa c t n o te d b y a n y
S ev era l
in creased
d iv id e n d
b een th e fea tu re o f th e w e e k .
a n n ou n cem en ts
have
T h e R e a d in g C o m p a n y
b o d y w h o does n o t ta k e all p rin te d sta tem en ts as u n -
has raised its sem i-a n n u a l
a ssa ila b ly tru e is th a t th e w o rk m e n im m e d ia te ly c o n
s to c k fro m 2 %
cern ed are n o t aw are o f a n y w ron g s; th e d is c o v e r y
6 % d iv id e n d b a sis, as a gain st th e p re v io u s 4 % .
an d p r o p o s e d rescue are fro m th e o u ts id e .
w eeks a g o th e C entral R R . o f N ew J ersey d e cla re d a
T o a large
d ecla ra tion
on
com m on
t o 3 % , th u s p la cin g th e shares o n a
T h ree
e x te n t th ese e m p lo y e e s are th e ir o w n e m p lo y e r s , in
special d iv id e n d o f 2 %
th a t th e y are n o t m erely sharers in p ro fits b u t sharers
la rly p a id p e r an n u m ) an d as th e R e a d in g C o m p a n y
in ow n e rsh ip .
(in a d d itio n t o th e 8 % reg u
T h is p la n , w h ich m u st be p r e tty w id e ly
ow n s $ 1 4 ,5 0 4 ,0 0 0 o f C entral o f N ew J ersey s to c k , th e
k n ow n t o th e p u b lic b y this tim e , n eed n o t be a scrib ed
r e ce ip t o f th e e x tra in c o m e fr o m th a t so u rce n o d o u b t
t o p h ila n th r o p y , b u t it w as b a sed o n c o o l bu sin ess ca l
p la y e d its p a rt in in flu en cin g th e m a n a g em en t o f th e
cu la tio n s,
R e a d in g in in crea sin g th e d iv id e n d d is tr ib u tio n o n its
w h ich
foresa w
a tte m p ts
to
d is tu r b ; th is
d o u b le p a rticip a tio n m a y n o t su cce e d c o m p le te ly , b u t
o w n s to c k .
it was w isely p la n n ed .
e x tr a 2 % on C entral s to c k is s u p p o s e d t o h a v e c o m e
A n d w h ile so m u ch ta lk a b o u t
I t is w o rth n o tin g , fu rth e rm o re , th a t th e
THE CHRONICLE
1504
(V O L . L X X X IX ,
fr o m th e 6 V £ % d iv id e n d d ecla red on th e s to c k o f th e
fo r e , sin ce th e B u d g e t w as a d o p te d b y th e H o u se
L e h ig h & W ilk e s -B a rre C oal C o ., $ 8 ,4 9 1 ,1 5 0 o f w h ich is
of
o w n e d b y th e C en tral.
L e h ig h V a lle y s t o c k has been
th a t th e p a y m e n ts th u s m a d e w ill b e refu n d ed sh o u ld
p la c e d o n a regu lar 6 % basis b y th e d e cla ra tio n o f a
th e t a x n o t b e fin a lly p a ssed an d be m a d e re tr o a c tiv e .
sem i-a n n u a l d iv id e n d o f 3 % .
B u t e v e n if e v e r y on e c o -o p e r a te s to a v o id a fin an cial
P r e v io u s ly th e sem i
C o m m o n s,
th e
u n d ersta n d in g
b e in g ,
of
co u rse ,
The
ca ta s tr o p h e , th e G o v e rn m e n t w ill b e o b lig e d t o b o r r o w
L o u isv ille & N a sh v ille R R . has also d e cid e d this w eek
q u ite h e a v ily d u rin g D e c e m b e r , J a n u a ry an d F e b ru
an nu al p a y m e n t has b e e n 2 %
to a d d to its d iv id e n d .
w ith 1 % e x tr a .
F o llo w in g th e p a n ic o f 1907
d iv id e n d s on th is s to c k w ere re d u ce d t o 5 % p e r an n u m
ary.
T h e d is co u n t m a rk et is p re p a rin g fo r th ese p ro s
p e c tiv e d em a n d s b y m a rk in g u p ra tes, w h ile C on sols
b y a c u t in th e sem i-a n n u a l p a y m e n ts t o 2 ^ % .
L a st
have
A u g u st th e se m i-a n n u a l p a y m e n t w as again m a d e
3%,
B a n k o f E n g la n d ’s reserves w ere h ig h en o u g h t o h a v e
th is w eek sh ow n
a n oth er
a d e clin in g te n d e n c y .
r e d u ctio n
in
a n d n o w it is a n n o u n c e d th a t th e d iv id e n d th e c o m in g
ju s tifie d
F e b r u a r y w ill b e 3U > % .
T h u r s d a y last h a d th ere b een n o p o litic a l d istu rb a n ce s
to ta k e in to co n sid e ra tio n .
T w o d e v e lo p m e n ts in th e B ritish p o litic a l crisis are
n o t w ith o u t
in terest fo r th is c o u n t r y ,
n a m e ly
th e
th e
o fficia l
The
ra te
on
T h e ca u tio n ex e rcise d is
a s tr o n g a u g u ry th a t th e w h ole s itu a tio n , th o u g h a d
m itte d ly d e lica te , w ill w o rk itself o u t sa tis fa c to r ily .
a v o w e d p o lic y o f th e L ib era ls t o g ra n t s e lf-g o v e rn m e n t
in d o m e s tic a ffairs t o Irela n d a n d th e m ean s ta k en t o
T h e N ica ra g u a n im b ro g lio has en tered a' n e w , an d it
raise rev en u e fo r ca rry in g on th e a d m in istra tion o f
is ea rn estly t o be h o p e d a c o n c lu d in g , sta g e th ro u g h
g o v e r n m e n t.
th e resig n a tion o f P resid en t Z e la y a .
P rem ier
A sq u ith
has en u n cia te d , on
T h ere h a d b e e n
b e h a lf o f his co lle a g u e s , “ a p o lic y w h ic h , w h ile e x
e x c it e d gen eral in terest a n d , in certa in q u a rters, s o m e
p lic itly sa fe -g u a r d in g th e su p re m e , in d iv isib le a u th or
co n c e r n reg a rd in g th e a c tio n ta k e n , b u t sin ce m o d ifie d ,
it y o f th e Im p e r ia l P a rliam en t, ca n set u p in Irela n d
b y o u r S e cre ta ry o f S ta te .
a s y ste m
p u rely
K n o x ’ s c o m m u n ic a tio n t o Z e la y a has, it n o w a p p ea rs,
T h e r e is n o t ,” he a d d e d , “ an d c a n n o t
a rou sed d issa tisfa ctio n in M e x ic o , w h ich c o u n t r y w a s
o f fu ll s e lf-g o v e r n m e n t as
Irish affairs.
regards
T h e ch a ra cte r o f S e cre ta ry
b e a n y q u e s tio n o f sep a ra tion ; th ere is n o t an d c a n n o t
a p a r ty t o th e a rran gem en t m a d e fo r p reserv in g th e
b e a n y q u e s tio n o f r iv a lry o r co m p e tin g fo r su p re m a cy ,
p e a ce in th e C entral A m erica n R e p u b lic s ; in d eed th e
s u b je c t t o th ese c o n d itio n s .
C entral A m e rica n c o lo n y in M e x ic o a d o p te d resolu tion s
T h a t is th e L ib era l p o l
T h is d e c la r a tio n has in d u ce d th e Irish N a tio n a l
d e n o u n c in g th e a ctio n o f o u r G o v e rn m e n t an d sen t
ists to 'fo rm a lly pass a resolu tion t o s u p p o rt th e L ib e r
co n g r a tu la tio n s t o P resid en t Z e la y a , b e fo re he resig n ed ,
a ls
on
ic y .”
in
th e
gen era l
e le ctio n .
M ea n w h ile,
th e
oth e r
p a rtie s are c a r r y in g on an a ggressive ca m p a ig n .
The
w hat
it
term ed
his
A m e rica n p r e te n s io n s .”
a ttitu d e
again st
L ib e r a ls h a v e th e en th u sia stic s u p p o rt o f th e L a b o r
e n tly
P a r t y , w h ich d u rin g recen t y ea rs has m a d e rem a rk a b le
in a sm u ch as P resid en t T a ft has p o s tp o n e d th e p re
p rogress in g a in in g re p re se n ta tio n in th e H o u s e o f
sen ta tion o f a sp ecia l m essage on th e s u b je c t t o C ongress,
C o m m o n s, a n d it is p r o p o s e d t o sin k p e tty jea lou sies
S e cre ta ry K n o x has s ta y e d his o w n h a n d , m ilita ry
in v a rio u s c o n s titu e n cie s so
tria n g u la r
aggression has b een h eld in a b e y a n ce , an d th e S en a te
co n te s ts , th e im m o la t io n o f on e ca n d id a te o r th e oth e r
has d e cid e d t o ta k e n o a ctio n on a resolu tion su b
as t o
a v o id
realizes th e
“ d ign ified
O u r A d m in istra tio n a p p a r
d e lic a c y
o f th e
w h o le
situ a tio n ,
to b e d e c id e d a c c o r d in g t o th e circu m s ta n ces th a t e x
m itte d to C ongress u rgin g th e arrest o f Z e la y a . D u rin g
ist in ea ch b o r o u g h or c o u n t y .
th e d e b a te on th is resolu tion th e a ttitu d e w as ta k en b y
T h e e ffort o f th e U n io n
ists to d iv e r t th e fig h t in to free tra d e versu s p r o te c tio n
at least on e sp eak er th a t th e U n ite d S ta tes ca n a ct th e
ch a n n els is n o t p r o v in g w h o lly su ccessfu l, b u t it is
role o f p o lice m a n in th ese in d e p e n d e n t rep u b lics; an d
t o o ea rly to fo r m a n y ju d g m e n t as to th e gen eral d rift
m is c o n c e p tio n on o u r rig h ts in in tern a tion a l d isp u tes is
o f sen tim e n t a m o n g th e e le cto ra te .
e v e n m ore flagrant ou tsid e th an in side th e S en a te.
T h e r e je c t io n o f th e B u d g e t w ith o u t p r o v is io n fo r
any
ad
in te r im
fin a n ces in
m easu re
a som ew hat
has
le ft
B ritish
a n om a lou s sta te .
n a tion a l
e x h ib itio n o f ta c t and sta tesm a n sh ip .
B r o a d ly
o f P resid en t Z e la y a sh ou ld p a v e th e w a y fo r a sp e e d y
s p e a k in g , th e p a y m e n t o f n ew ta x e s b e tw e e n n ow an d
th e e n a c tm e n t o f a fin a n ce b ill is v o lu n ta r y .
The
N ica ra g u a n tro u b le a ffords o p p o r tu n ity fo r a d ig n ified
T h e elim in a tion
an d s a tis fa c to r y s ettlem en t o f th e w h ole tr o u b le .
O n th is
p o in t th e L o n d o n “ E c o n o m is t” ob se rv e s: “ W e th in k
The
th e C u stom s d iffic u ltie s ca n b e g o t o v e r p a rtia lly if
sea son
a p p ro a ch
th e o fficia ls in s is t th a t th o se w h o w ill n o t p a y o n tea ,
fin a n cia l cities o f E u ro p e s u fficie n tly h e a v y to raise
has
of
brou gh t
th e
C hristm as
d em a n d s
an d
upon
N ew
th e
Y ear
p rin cip a l
o r d e fr a y th e in crea sed d u ties on t o b a c c o a n d spirits,
d is co u n t rates an d t o red u ce th e s to c k o f g o ld in the
shall g iv e a d e q u a te gu a ra n ties o f th eir c a p a c it y an d
C entral B a n k s o f {L o n d o n , P aris an d B erlin .
w illin gn ess t o p a y la ter on w h en th e d u ties are m ad e
th e B a n k o f E n g la n d a llow ed th e Im p e ria l B a n k o f
e ffe c tiv e
G erm a n y to ta k e all th e n ew S o u th A frica n g o ld a v a il
and
re tr o s p e c tiv e
by
A ct
of
P a rliam en t.
T h e in c o m e t a x is th e h a rd est n u t t o c r a ck , arid th e u n
a b le o n M o n d a y , at' th e m in im u m
a v o id a b le
th e
d e la y
here w ill
e n o rm o u s ly
in crease th e
rev en u e d e ficit fo r th e cu rren t fin an cial y e a r.
The
o p in io n
fo r m e d
by
W hen
p rice , 77s. 9 d .,
in tern a tion a l
ban k ers
here
w as th a t n o re d u ctio n in th e o fficia l rate at L o n d o n
n ew licen se d u tie s , o f cou rse, c a n n o t b e c o lle c t e d .”
c o u ld
T h e g o o d sense o f th e B ritish p e o p le — “ a n a tion o f
stren g th en ed as th e w eek a d v a n c e d b y a g rad u al rise in
s h o p k e e p e rs ” — p rom ises
p r iv a te d isco u n t rates a n d
p a sse.
to
preven t
any
g ra v e
im
I t is o b v io u s ly in th e in terest o f busin ess m en
B ank
b e lo o k e d
fo r
S to c k
fo r on T h u r s d a y .
E xchange
by
T h is b e lie f w as
b o r r o w in g fr o m
p u rp oses.
W hen
th e
th e
as w ell as o f b a n k ers t o a v o id th e d e m o ra liz a tio n th a t
g o v e rn o rs m et on T h u rs d a y , th e sta tem en t su b m itte d
a n y w id e sp re a d w ith h o ld in g o f ta x p a y m e n ts w o u ld
t o th em le ft little c h o ic e b u t to c o n tin u e th e 4 ^ %
p r e c ip ita te .
rate fix e d a w eek earlier; n o t o n ly d id it reflect e x -
T h e T e a B u y e r s ’ A s s o c ia tio n has re c o m
m e n d e d th a t th e n ew ta x e s on tea b e p a id as h e re to -
erisive
b o r r o w in g — loa n s
sh o w e d
an
ex p a n sio n
of
D e c . 18 1000.]
$ 4 ,3 6 0 ,0 0 0 — b u t
THE CHRONICLE
c o in
an d
b u llio n
had
fallen
$ 6 ,
1565
N ew Y o r k to L o n d o n a n d P a ris.
W h e n d e m a n d ster
0 9 5 ,0 0 0 , b rin g in g d o w n th e p r o p o r tio n o f reserves to
lin g s o ld at 4 88 o n W e d n e s d a y an d c a b le tra n sfers
liabilities to 54 1 -3 % , w h ich , th o u g h e x tra o rd in a rily
at 4 8 8 ^ , e x c h a n g e o p e ra to rs a d m itte d th a t g o ld e x
h igh fo r th e m id d le o f D e ce m b e r, is a p p a re n tly n o t in
p o rts m ig h t b e c o m e w a rra n ted ; b u t th is w as as fa r as
itself, u n d er th e ex istin g a b n orm a l p o litica l co n d itio n s ,
th e y w o u ld o r co u ld th en g o .
su fficie n t to fo rce a low er d isco u n t r a t e .
large sca le are n o t a m a tter o f sen tim en t b u t o f b u si
W ith sh ort bills
G o ld sh ip m en ts o n a n y
q u o te d in th e o p e n m a rk et at 4 % , w ith a gen eral e lection
ness; th e y are g o v e r n e d m ore d ire ctly b y e x c h a n g e
o n ly a b o u t a m on th o ff, w ith ex te n siv e y e a r ly settlem en ts
rates th a n d o m e s tic cu rr e n c y m o v e m e n ts are g o v e r n e d
to m eet, an d w ith In d ia , S ou th A m e rica , th e C on tin en t
b y th e in terest rates ru lin g in W a ll S tre e t.
a n d th e P rov in ces all w a n tin g g o ld , th e L o n d o n B a n k is
T h u rsd a y 4 8 8 )^ w as b id fo r sigh t d ra fts fo r re m it
m o st u n lik ely to ch a n g e its ra te d u rin g th e tw o re
ta n ce
m a in in g
B erlin ,
stea m er, th e last to rea ch E u r o p e b y D e c . 31, p r e d i« -
d e sp ite th e R e ic h s b a n k ’ s p u rch a se o f T ra n s v a a l g o ld ,
tion s o f g o ld e x p o r ts w ere tra n s fo rm e d in to sta tem en ts
a re d u ctio n in th e 5 % ra te is o u t o f th e q u e stio n , for
th a t en g a g em en ts h a d a c tu a lly been a rra n g ed .
4 % % is b id p r iv a te ly an d e v en stiller ch a rg es w ill be in
ban k ers w h o h a n d le th e la rg est a m o u n t o f e x ch a n g e ,
o rd e r b e fo re th e J a n u a ry 1 p a y m e n ts , on th is o cca sio n
h o w e v e r, n o t o n ly refu sed to con firm
u n u su a lly large, ca n
b u t d ecla red th a t u ntil rates a d v a n c e d a t lea st a n oth er
w eeks
of
th e
cu rren t
be
year.
n e g o tia te d .
At
At
P aris
call
to
London
by
next
W e d n e s d a y ’s
W h e n on
fa st
m ail
The
th ese rep orts,
m o n e y has a d v a n c e d s h a rp ly , y e t bills ca n still be
L±c. p e r p o u n d sterlin g n o sh ipm en t^ o v e r-s e a c o u ld b e
d is co u n te d
p r o fita b ly u n d erta k en .
a p p r e c ia b ly
e x a c tio n o f 3 % .
b e lo w
th e B a n k ’ s m in im u m
T h e B a n k o f F r a n c e , as w a s t o be
e x p e c te d , reco rd e d a m o d e ra te loss o f g o ld ($ 1 ,6 5 0 ,0 0 0 )
on T h u rsday.
A s a m a tte r o f fa c t , n o en
g a g em en ts h a v e b een a n n o u n ce d .
T h is d oes n o t m ea n ,
h o w e v e r, th a t th e M au reta n ia m a y n o t o n W e d n e s d a y
n e x t ca rry a m o d e ra te a m o u n t o f th e m eta l, as it is
w ell u n d e rsto o d in e x ch a n g e circles th a t a sh ort a c c o u n t
K in g L e o p o ld I I . , th e sep tu a g en a ria n ru ler o f B e l
still rem ains u n c o v e r e d .
T h e d o m in a tin g fin an cial in
g iu m , h a d fo r m ore th a n a w eek b e e n in so g ra v e a c o n
terests are b e lie v e d to b e a n ta g o n istic t o a n y o u tflo w
d itio n th a t his p e o p le w ere n o t u n p rep a red fo r th e an
o f g o ld to E u r o p e at th is ju n c tu r e , an d it n eed s ca rce ly
n o u n ce m e n t o f
his
d ea th
y e s te r d a y
m o rn in g .
He
be e x p la in e d th a t a few o f th e lea d in g b a n k s an d b a n k
u n d erw en t an o p e ra tio n on T u e s d a y as a last c h a n ce o f
ers co u ld easily k eep e x ch a n g e rates, a t lea st te m p o
sa v in g his life, an d a lth o u g h he rallied r e m a rk a b ly for
ra rily , b e lo w th e e x p o r t p o in t.
on e o f his y ea rs' (s e v e n ty -fiv e ), a fa v o r a b le o u tc o m e
g a g ed fo r sh ip m e n t th is w eek has been 8 1 ,0 0 0 ,0 0 0 to
w as n ev er b y a n y m ean s ce rta in .
T h e to ta l g o ld e n
C u riou sly e n o u g h ,
b e sen t to A rg en tin a th is m orn in g , $ 5 0 0 ,0 0 0 to b e sen t
th e B elg ia n P a rlia m en t has ju s t ta k en up th e in ter
to th e sam e c o u n t r y o n M o n d a y a n d $ 1 0 0 ,0 0 0 fo r th e
n a tio n a lly im p o rta n t s u b je c t o f re fo rm in th e C on g o
W e s t In d ie s.
F ree S ta te , w h ere K in g L e o p o ld h a d v a s t possession s,
tin u e fo r som e tim e .
T h e S o u th A m erica n d em a n d m a y c o n
w h ich h a v e n o t b een a d m in istered t o th e sa tisfa ction
of
o th e r
n a tion s,
G rea t B rita in .
in clu d in g
th e
U n ited
S ta tes
an d
R ig h tly or w 'ron gly, th e im pression
S p ain is m a in ta in in g her re p u ta tio n , w o n cen tu ries
ago,
fo r
fierce
c o m b a ts
over
m u n icip a l
e le c tio n s .
has lo n g p rev a iled th a t th e B elg ia n a u th orities h a v e
T h rou gh ou t
n o t liv e d up to th eir p ro te s ta tio n s o f a desire to re
w ere ele cte d last S u n d a y , w h en L ib era ls a n d R e p u b li
m o v e all g rou n d s fo r th e c o m p la in ts th a t h a v e been
can s w ere in m ost cities retu rn ed to p o w e r.
rife fo r yea rs reg a rd in g th e ill-tre a tm e n t o f n a tiv es,
ber o f places riots o c c u r r e d .
a n d K in g L e o p o ld ’s a ttitu d e had n o t been e x e m p la r y ,
su rprise a m o n g th o se fam ilia r w ith S pan ish h is to ry .
it w as c o n te n d e d .
T w o or th ree y ea rs a g o certa in
N a tion a l p o litics e x c ite o n ly s e co n d a ry in terest; th e
A m erica n finan ciers o f g rea t w ea lth e x p lo r e d th e in
p e o p le are all in ten t u p o n m a in ta in in g lo ca l p riv ileg es
th e
cou n try
m u n icip a l
re p resen ta tiv es
A t a num
T h is w ill o cca s io n n o
du strial p o ten tia lities o f C o n g o , an d it w as u n d e rsto o d
an d loca l p o w e r a gain st th e in roa d s o f th e ce n tra lize d
th a t v a lu a b le co n cession s t o g a th er ru b b e r an d d e v e lo p
g o v e r n m e n t, w h ic h , lo c a te d in M a d rid a n d c o m p o s e d
m in es w ere th en secu red .
N o e la b o ra te steps h a v e been
in t o o la rg e m easu re o f p rofession a l p o liticia n s , is n o t
ta k en to e x p lo it th e te r r ito r y , a lth o u g h th e p r o je c t
p o p u la r th r o u g h o u t th e c o u n t r y .
is a p p a re n tly in a b e y a n ce , n o t a b a n d o n e d .
T h e b e
s titu tio n has b een in fo r c e e x a c tly on e g e n e r a tio n —
T h e p resen t c o n
lief in financial circles here is th a t th e A m erica n s in
sin ce 1876— a n d it has n o t te n d e d to stim u la te ben efi
terested in th e p lan h a v e p o s tp o n e d a c tiv e w o r k u ntil
ce n t lo ca l a d m in istra tio n .
th e w h ole situ a tio n , n o w seriou sly en ta n g le d , is clea red
g a rd ed
u p , eith er b y th e v o lu n ta r y a c tio n o f th e B e lg ia n G o v
w h ich
ern m en t or b y in tern a tion a l in te r v e n tio n , su ch as has
ea sily b le n d e d w ith th e d o ctrin e s p u t fo rw a rd b y th e
been th rea ten ed .
p o liticia n s w h o d o m in a te th e G o v e rn m e n t.
F a r-re a ch in g d e v e lo p m e n ts w ill n ow
by
o th e r cities
M a d rid is n o t k in d ly re
and
m any
of
h a v e p e cu lia r ch a ra cte ristics th a t c a n n o t
c o m m u n itie s ,
be
T h e la ck
in all p ro b a b ilitie s fo llo w th e d ea th o f K in g L e o p o ld .
o f co n fid e n ce in th e n a tion a l b o d y , h o w e v e r, is m ore
T h e heir p re su m p tiv e to th e th ro n e is P rin ce A lb ert
th a n co m p e n s a te d fo r b y th e p rid e th a t is ta k en in
th e o n ly son o f th e d ecea sed K in g ’ s b r o th e r , th e late
m u n icip a l affairs an d th eir p ro p e r a d m in istra tio n .
P h illip p e, C ou n t o f F la n d ers.
is th is p rid e , th is in ten se in terest, th a t ex p la in s th e
y e a r,
learn ed
and
p op u la r.
H e is in his th irty -fifth
R e p o r ts fr o m
B russels
It
ca b led d esp a tch es th a t at v a rio u s cen ters th ere wras
y e s te r d a y sta ted th a t a co n te s t o v e r th e su ccession
rio tin g .
m a y arise in c o n se q u e n ce o f ru m ors co n c e r n in g a m a r
g o v e rn m e n t is losin g g ro u n d ,
riage h a v in g been c o n tr a c te d b y K in g L e o p o ld w ith
B a ron ess V a u g h a n .
n o reg ret, sin ce th e m a ch in e ry at W a s h in g to n is al
In th e U n ite d S ta tes th e fe tich o f ce n tra lize d
a fa c t th a t n eed ca u se
rea d y in d a n g er o f b e c o m in g u tterly u n w ie ld y , as ce r
ta in e m in en t legisla tors o f e x p e rie n ce in F ed era l affairs
A g o o d doal o f irresp on sib le ta lk has b een in d u lg ed
i » th is w eek c o n ce rn in g d ire ct sh ip m en ts o f g o ld from
are n ow im p ressin g u p o n th e p e o p le .
THE CHRONICLE
1566
VOL. L X X X IX .
A notable expansion in merchandise imports is the year when weather conditions place more or less of an
salient feature of the official trade statement for No embargo on such work. That there should be the
vember, issued this week. The exports are of satis current activity after the pace at which operations had
factory proportions, though not quite so large as for been going on in earlier months of the year cannot but
October, owing to the somewhat restricted outflow of be considered as further evidence of the satisfactory
cotton due to the abnormally high price of the staple. status of affairs, and therefore confirmatory of the
Contrasted with the corresponding month of 1908, the deductions made from returns of bank clearings, rail
merchandise shipments for November exhibit a de
cided increase, though as compared with 1907 there is
some decline. The November imports, however, were
the heaviest on record for a single month, and show a
very large increase over November 1908. Conse
quently, our net export balance for the month was not
only a little below that for the like period last year,
but less than for November in any year since 1902.
Stated in brief, the merchandise exports in Novem
ber 1909 were $194,115,271, against $161,252,653 in
1908 and $204,464,217 in 1907. In the gain over
1908 cotton furnishes the most important single con
tribution, and solely on account of the high price.
The shipments of the staple this year in November
were only 1,079,308 bales, against 1,327,824 bales
a year ago, but the 1909 value is given at $78,984,632,
or more than 16 millions of dollars greater than in
1908. On the same basis of value per pound as last
road earnings, &c. It is true, of course, that our
latest compilation, for the month of November, indi
cates that in the country as a whole building opera
tions were practically as active in the month last
year as in the period of 1909, but it was not until Octo
ber of 1908 that industry began to really feel the im
pulse of better times, whereas this year there has been
activity throughout. If, therefore, we go back and
compare with November 1907, when depression was
severely felt, we are able to realize the recovery that
has taken place.
Our compilation for November, which covers 102
important municipalities of the country, shows that
construction work arranged for in that month of 1909
will, if carried out, entail the expenditure of $61,213,311, against $59,739,736 for November of 1908, or
an increase of only 2 .5 % .
But it is to be noted that
the month’s total for this year is 8 7 .1 % in excess of
year, this year’s cotton exports would have been but that for 1907, well ahead of 1906 and doubtless a
about 5034 millions of dollars. It is therefore clear record for the period covered. As the leading city of
how important the matter of the price of cotton has the country, the result for Greater New York first
been this year in swelling the value of our outward claims attention. The percentage of increase over
merchandise movement. The breadstuffs shipments last year in the whole municipality is only 5 .5 % ,
were about the same in November of each year, an but this is after the considerable gains recorded in
increase in wheat being offset by losses in corn and earlier months. In the principal borough (Manhattan)
flour. Provisions showed a decline of 134 millions of the excess is in fact large— 3 0 % — but in Brooklyn
dollars and]mineral oils a nearly corresponding gain. For 10% less funds than last year will be required to carry
the eleven months of the calendar year 1909, the aggre out contemplated projects, and Bronx contracts ex
gate exports o* merchandise were $1,555,621,069, hibit a falling off of 1 4 % . As compared with 1907—
against $1,564,004,540 in the corresponding period of the period of the panic— the current total naturally
1908, and compared with the record total of 1907 there shows an enormous gain— namely 1 2 6% . Outside of
is a falling off of 16024 millions.
Imports of merchandise in November, as stated
above, reached a new record.
They were $140,392,012,
exceeding by 3634 millions the total for 1908, and being
2934 millions over 1907. For the period since Jan. 1
the inflow of commodities covered a value of $1,336,
622,966, or an excess of 332 millions over 1908 and
a gain of 534 millions over 1907, the preceding highwater mark. The net balance of exports for Novem
ber reaches $53,723,259, comparing with $57,337,406
in 1908 and $93,521,301 two years ago, and for the
eleven months is only $218,998,103, against $559,551,
015 in 1908 and $385,378,373 in 1907. Infact, the cur
rent year’s export balance is thesmallest since 1895, when
for the eleven months asmall import balance was shown.
The outward movement of gold during the month
reached fairly large proportions. Altogether there was
sent out a total of $15,649,281, of which $8,877,100 was
from New York almost wholly to South America. Im
ports of gold, on the other hand, were very moderate,
leaving the net outflow for November $11,778,644
Greater New York many notable percentages of in
crease are to be found at cities of prominence, among
which are Philadelphia, Omaha, Newark, Buffalo,
Denver, Kansas City, Los Angeles, Detroit and St.
Paul.
But thesejare largely offset by large losses at Chi
cago, Pittsburgh, San Francisco, Salt Lake City and
many localities of lesser importance, so that the aggre
gate prospective outlay for the 101 cities outside of
New York in November 1909 stands at $44,234,701,
against $43,659,129 in 1908, or the merely nominal
increase of 1 .3 % . Contrasted with the like period of
1907 the gain is 7 5 .2 % .
Combining the result for 82 leading'cities for Novem
ber with similar returns for the previous ten months
of the year, we have indubitable proof of building con
struction activity. The total of intended outlay thus
disclosed for the eleven months’ period this year is
739 millions of dollars, as against 503 millions in 1908,
or an increase of 4 1 % , and compared with the esti
mated outlay in 1907 (626 millons) there is a gain of
1 7 .9 % .
Greater New York’s operations in the eleven
and making the net shipments for the eleven months
months of 1909 exceed those of 1908 by 5 5 .3 % and
$80,291,323.
1907 by 3 9 .7 % , and outside of this city the gains are
3 5 .2 % and 9 .7 % , respectively. The markets for
In November 1908 the excess of ex
ports of gold was $57,912, and for the eleven months
structural steel naturally
building operations.
reached $28,734,188.
Building
construction
operations
in
the
this
activity
in
United
States continue comparatively active, notwithstand
ing the fact that we have reached the period of the
reflect
The most pleasing feature of last Saturday’s bank
returns was not the increase of $2,247,550 in the
D e c . 1 8 1 9 0 9 .|
THE CHRONICLE
average surplus but the narrowing of the disparity
between deposits and loans which had come to be
undesirably pronounced. Since the latter part of
October loans of the Clearing-House .banks have ex
ceeded the deposits. The difference at the end of
that month was just over $2,500,000, but each suc
cessive week brought a widening of the gap; by the
middle of November loans were fully $14,000,000
greater than deposits; by the end of November the
1576
days and 4J^% for longer periods, but lenders have
occasionally been obliged to grant concessions. The
range, therefore, is 4 3 ^ @ 4 % % for sixty and ninety
days and 434 @ 4 3 ^ % for four, five and six months.
A few transactions for twelve months have been
entered into at 4 3 4 % - In a number of instances
accommodation has been asked on collateral not’ac
ceptable to lenders, including too large proportions
of Copper and Steel stocks. Call money ranged from
figure had increased to more than $20,000,000, while 3 to 5 % , with 4 % % the average rate for the week.
on Dec. 4 the excess of loans approximated $25,000, Business yesterday was at 3 }4% to 5 % . Commercial
000. A notable improvement was, however, recorded paper has been drawn less freely by those who can
last Saturday. The actual loans then aggregated afford to wait until after the year ends. Consequently,
$1,187,673,400 and the deposits $1,167,995,300, or a although the demand locally has been light, the sup
difference of $19,678,100, the best showing since the plies on brokers’ hands are not awkwardly extensive.
third week in November. That the tendency was in This is particularly true of the choicest grades of four
the right direction at the close of the week can be to six months’ single names. The range for these is now
deduced from the fact that, whereas in the average 5 @ 5 3 4 % , with the tendency towards the lower figure.
statement the reduction in loans was $10,798,900, Less attractive bills are quoted 534 @ 6 % , withfair in
against a decrease of $9,519,800 in deposits, by the quiry from out of town. For sixty to ninety days’ en
actual statement there was an increase in loans of dorsed bills receivable, the usual charge is 5 @ 5 M % .
$5,715,900, contrasted with a gain of $10,975,800 in
deposits. Only nine banks, three national and six
state, reported less than the 2 5 % cash reserves re
Foreign exchange hovered so near the gold-export
basis during the second half of the week that unusual
quired, and the total deficit of these institutions did
not exceed $1,081,400, an unusually favorable showing
for the second week in December.
interest has been taken in the fluctuations from day to
for bills to arrive by the steamer leaving New York
financial institutions, who, it is said, figured some time
to-day, but yesterday they receded to 3 % %
days and 4 % for 60 days, to arrive, while bills due to
ago that it would be entirely safe to go short of sterling
at any point above 4 87; the covering operations of
reach London in January are from
these speculators have been a factor this week.
day and even from hour to hour. Y et it remains a
fact that trading has not been active. What makes
exchange rates so susceptible to passing influences is
Discount rates in London have advanced since the the extreme scarcity of remittance, especially cotton
Bank rate was lowered. They were quoted at 4 % for and grain bills. Then there has been considerable
90 days and 4 1-16% for 60 days, both for spot and speculation among brokers and, reputedly, certain
for 90
of 1 % lower.
At Paris the rate is 2 % % . Berlin has moved up
its charge to 4 % @ 4 J ^ % for all bills. At Frank
fort the quotation is 4J ^ % . Amsterdam is unchanged
from last week at 2 % % . All official rates remain at
the previous week’s level. Increased firmness be
tween now and the beginning of January would be
logical in view of impending demands. According to
our special cable from London, the Bank of England
lost £1,399,635 bullion and held £34,509,728 at the
The
demand for remittance to London and Paris has been
increased by not only the seasonable payments of
dividends and interest, but by quite heavy maturities
of bonds, short-term notes, city revenue warrants and
the loans raised by our bankers some time ago. Had
the offerings of commercial bills been normally large,
no difficulty would have been experienced in financing
all these maturities; but, as stated, the market is
bare of such bills. The foreign trade returns for No
close of the week. Our correspondent further ad vember, showing unprecedentedly heavy imports,
vises us that the loss was due in greatest measure to throw light on this phase of the foreign exchange
shipments to the interior of Great Britain. Exports, situation as it stands to-day, but there is still some
however, were quite full, and almost wholly to South mystery on the point. During the current week finance
America. The details of the movement into and out bills on both London and Paris have been drawn in
of the Bank were as follows: Imports, nil; exports, fair quantity, and more are looked for in the immediate
£626,000 (of which £601,000 to South America and future, although relative interest rates afford no special
£25,000 to various destinations), and shipments of inducement at present to secure credit abroad. A
£774,000 net to the interior of Great Britain.
good deal of tension exists at the moment among ex
change operators, some of whom will feel relieved if
In the local money market business has ‘dwindled
to insignificant volume for all but call loans, and these
are only ordinarily active. This is accounted for by
the desire of borrowers to limit their commitments
the year ends without radical developments. Keen
interest is centered in the first two days of the new
week, as the Mauretania, which sails on Wednesday;
is the final boat to reach the other side'with remittances
over Dec. 31 to the smallest possible proportions so as available for use by Dec. 31. Whether powerful in
to be able to present favorable balance sheets. Had terests will force the bears to have recourse to the ship
not offerings been reduced or entirely withheld by ment of metal, or whether there will be belated profit
several prominent lending institutions in the city, taking, cannot be foreseen, although the subject is
rates would have been depressed to lower levels; being actively discussed. An immediate break in
especially as a considerable amount of Western money, demand is looked for after the mid-week mail closes,
having performed its function of moving the crops to but thereafter operations will be switched to cable
market, has been remitted to Wall Street for use. transfers, which may afford, it is thought, unusual
The asking rate has been 4 % % for sixty and ninety
fluctuations one way or the other.
All that can be
1568
THE CHRONICLE
said with certainty at the present writing is that the
position is one of extreme sensitiveness and full of
possibilities.
Compared with Friday of last week, sterling ex
change on Saturday, which is invariably a quiet day,
changed very little; the undertone was firm on the
[V O L . L X X X I X .
NICARAGUA A N D THE UNITED STATES.
The diplomatic episode for some time in progress as
between our Government and Nicaragua, culminating
this week in the resignation of Zelaya from the Presi
dency of that Central American State, was perhaps
of no great importance to the larger interests of the
basis of 4 8 4 % for sixty days, 4 8 7 % for demand and
political world.
4 8 8 % for cable transfers. On Monday long bills closed
easier, but demand advanced 5 points and transfers
10 points. The same tendency prevailed on Tues
day, when the range was 4 8 4 % for sixty days, 4 8 7 %
for demand and 4 8 8 % for cables. On Wednesday
take rank as a notable if not as a perplexing prece
dent in the field of American diplomacy. The funda
mental facts in the case are fairly well ascertained.
all classes of remittance moved up about 10 points,
•to the highest range of the present season for every
thing but sixty days, which sold at 4 8 4 % ; demand
reached
4 88
and
cable
transfers
crossed
4 88% .
Firmness, especially for remittance to go by next
Nevertheless, it may nqt impossibly
Zelaya, Dictator of Nicaragua, against whom our
Government has publicly discriminated in its diplo
matic policy, is one of those adventurers of the Castro
and Blanco type who have been able, in those insecure
governments, to seize on absolute power through influ
ence with the army, and to use that power both to
their own pecuniary advantage and to the satisfaction
Wednesday’s fast steamer, again ruled on Thursday, of private and public grudges.
the range then being 4 8 4 2 5 @ 4 8435 for sixty days,
Himself the son of a respectable coffee-growing
4 8 7 9 5 @ 4 88 for demand and 4 8855 @ 4 8860 for cable family, Zelaya opposed a Nicaragua dictator of his
transfers. On Friday the tone was easier for remit earlier years, was banished from the country, took
tance by to-day’s steamer, but 4 8 8 % was bid for next service in the army of Guatemala, won some distinc
Wednesday’s boat. Cable transfers were firmer.
tion there as leader and adviser, arid eventually re
The following shows the daily posted rates for ster turned to his own country at the time of a fresh
ling exchange by some of the leading drawers:
uprising. Co-operating ostensibly with the provi
W e d ..
T h u r s .,
F r i .,
M o n .,
T u e s .,
F r i ..
D e c . 10. D e c . 13. D e c . 14. D e c . 15. D e c . 10. D e c . 1 7 .
/6 0 d ays
B ro w n
B r o t h e r s i t C o ____ - \ S i g h t - _
j 60 d a y s
K id d e r ,
X’ e a b o d y & C o ____ . \ S i g h t . .
]6 0 d a ys
B a n k B r it is h
N o r t h A m e r i c a ___ -1 S i g h t - .
160 days
B ank of
M o n t r e a l ...................... . \ S l g h t - 160 days
C a n a d ia n B a n k
o f C o m m e r c e ........... - \ S t g h t - .
Iie id e lb a c h ,
J 6 0 ( la y s
S ig h t..
Ic k e lh e lm e r & C o .
J60 days
L a z a rd
n s ig h t..
F r e r e s ................... —
160 days
M e rc h a n ts ’ B a n k
o f C a n a d a __________ - \ S l g h t _ .
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
,84 'A
8 8 )3
85
8 8 )3
84 y z
8 8 )3
85
8 8 )4
8 4 )4
8 8 )4
84 y .
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 4 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
84
8 4 )4
8 8 )4
8 4 )4
8 8 )4
84
8 4 )4
8 8 )4
8 4 )4
8 8 )4
84
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
88)4
88
88
88
88
84 y.
8 8 )4
85
8 8 )4
8 4 )4
8 8 )4
88
88
8 4 )4
88)4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
85
8 8 )4
8 4 )4
8 8 )4
85
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
8 4 )4
8 8 )4
85
88)4
85
8 8 )4
85
8 8 )4
8 4 )4
8 8 )4
8 4 )1
8 8 )4
85
)4
8 4 )4
8 8 )4
88
The market closed on Friday at 4 8440 @ 4 8450 for
sixty days, 4 8 7 9 0 @ 4 88. for demand and 4 8860@.
4 8865 for cables. Commercial on banks was quoted
at 4 8 4 1 0 @ 4 8420 and documents for payment at
4 8 3 % @ 4 8 4 % . Cotton for payment ranged from
4 8 3 % to 4 8 3 % and grain for payment from 4 8 4 %
to 4 8 4 % .
The following gives the week’s movement of money
to and from the interior by the New York banks.
Received by
Shipped by
N . Y . Banks. (V. Y . Banks.
Week ending December 17 1909.
■
Total gold and legal tenders----------
N et Interior
Movement.
S10,342,000
1,642,000
84,400,000 Gain 85,942,000
1.109.000 Gain
533,000
811,984,000
$5,509,000 Gain 86,475,000
With the Sub-Treasury operations and gold exports
the result is as follows.
Out o f
Banks.
Into
Banks.
Week ending December 17 1909.
Net Change in
Bank Holdings.
Banks’ Interior m ovem ent, as above.
Sub-Treas. oper. and gold e x p o r ts ..
$11,984,000
33,100,000
$5,509,000 Gain $6,475,000
33,300,000 Loss
200,000
Total gold and legal tenders...........
845,084,000
$38,809,000 Gain $6,275,000
The following table indicates the amount of bullion
in the principal European banks.
Dec. 17 1908.
Dec. 16 1909.
Banks o f
England. .
F ran ce. . .
Germany..
Russia . . .
Aus.-Hun.
S p a in ____
Italy . . . .
N eth’lands
N at.B elg..
Sweden . .
Swltzerl’d.
Norway . .
Cold.
Silver.
Total.
£
34,509,728
141,415,280
37,479.100
141,448,000
56.990.000
16.106.000
38.480.000
10.081.000
4,207,333
4.370.000
5.003.000
1.685.000
£
£
34,509,728
177,141,360
49,282,050
148,318,000
69.217.000
46.884.000
42,470;000
12,921,900
.6,311,000
4,370,006
35,726.080
11,802,950
6.870.000
12.227.000
30.778.000
3.990.000
2,840,900
2,103,667
Gold.
£
33.017,486
137.900.000
42.377.000
121.361.000
48.972.000
15.793.000
37.400.000
8,386,600
4,120.667
4.243.000
4.699.000
1.640.000
1,685.600
Stiver.
Total.
£
£
33.017.486
173.500.000
53.677.000
128,088,000
61.283.000
48.326.000
41.900.000
12,458,200
6,181,000
4.243.000
4.699.000
1.640.000
35.600.001
11.300.001
6,727,001
12.311.000
32.533.001
4,500,006
4,071,600
2,060,333
Total week 491,774,441 106,338,597 598,113,03? 459,909,753 109,102,933 569,012,686
Prev. week 493,515.310 105,202,173 598,717,483 461,306,460 108,437,685 569.744,145
sional government which had been set up after the
capture of the chief Nicaraguan city, Zelaya treacher
ously turned upon his associates, and by a characteris
tic Central American coup d’etat, seized the reins of
government, threw his own colleagues into prison, and
placed himself absolutely in control of Nicaraguan
affairs. That his domination during the past dozen
years has been marked by tyranny, cruelty and extor
tion, has long been known to all who have visited or
traded with Nicaragua. His use of prisons as a means
of punishing people who would not submit to his
pecuniary extortions was notorious, and his placing
of the means of public subsistence in the hands of
monopolies from which he derived an immediate and
enormous personal profit were equally scandals
of the Central American world. The time came when
even the ignorant people of his country revolted against
him, under the leadership of a certain Estrada.
The
revolutionists made some progress, and a few months
ago sent a diplomatic representative to Washington
to solicit the good offices of the United States Govern
ment. Here was where the policy of our own State
Department came in.
On Dec. 1, Secretary Knox, for the State Depart
ment, in a letter to Rodriguez, Washington represen
tative of Zelaya, broke off official relations with the
Zelaya Government. Mr. Knox’s note set forth that
“ Zelaya has almost continuously kept Central America
in a tension of turmoil, has repeatedly and flagrantly
violated the provisions of the Conventions, and by a
baleful influence upon Honduras, whose neutrality the
Conventions were to assure, has sought to discredit
those sacred international obligations.” It was fur
ther declared that “ it is a matter of common knowledge
that under the regime of President Zelaya, republican
institutions have ceased in Nicaragua to exist except in
name.” “ The Government of the United States,” the
document continues, “ is convinced that the revolution
represents the ideals and the will of the majority of the
Nicaraguan people more faithfully than does the
Government of President Zelaya,” and to this is added
D ec . 18 1909. i
THE CHRONICLE
1569
the statement that, “ as officially reported from more the school of corruption, dishonor, perfidy and crime
than one quarter, there are already indications of a he stands without a peer.” Concluding, Mr. Rayner
rising in the Western provinces in favor of a Presiden intimated that, in case of the insurgents’ victory, Zelaya
tial candidate intimately associated with the old might not be able to obtain a fair trial in his own
regime.” The United States had a legitimate demand country. In such a case, the Senator concluded, “ he
for reparation in behalf of two Americans enlisted in might well be brought to the United States and tried
the revolutionary army, who were captured and shot for murder in this country before a jury of American
by Zelaya instead of being tried as ordinary prisoners citizens and under the criminal laws.”
of war. Mr. Knox points out that the placing of these
So the matter stood on the eve of Zelaya’s resigna
at
tion, though it is to be observed that President Taft
Nicaragua of a government capable of respond
ing to the demand. All things considered, the
conclusion stated is, “ that in these circumstances the
demands for reparation required the existence
special message on the subject, and that the Chairman
of the Senate Foreign Affairs Committee speaks with
President no longer feels for the Government
of
President Zelaya that respect and confidence which
should make it appropriate hereafter to maintain with
it regular diplomatic relations.”
This declaration from the State Department was
accompanied by a notice to Zelaya’s Minister at
Washington that his functions were at an end, and
that, in the traditional language of diplomacy, his
has still reserved part of what he has to say for a
some restraint upon the subject. What is to be said
of the incident to date? That it is an innovation, not
only in our own diplomacy but in diplomatic practice
generally, no one is likely to deny. This of itself is
by no means a conclusive criticism. Pretty much the
same thing might have been said, and was said,
regarding Secretary Hay’s circular note to the Powers
in 1900, whereby, in behalf of the United States, he',
repudiated any purpose of territorial aggression in the-
passports were enclosed. But the singular qualifica
tion was added: “ Although your diplomatic quality is
joint intervention in Chinese affairs after the Boxer
terminated, I shall be happy to receive you, as I
rebellion, and asked the other Powers to declare their-
shall be happy to receive the representative of the
revolutionary committee, as the unofficial channel of
communication between the Government of the United
States and the de facto authorities.” A few days
later, in his annual message to Congress, President
Taft declared his approval of the State Department's
action, adding that the Government “ is intending to
take such future steps as may be found most consistent
with its dignity, its duty to American interests, and its
moral obligations to Central America and to civiliza
tion.”
attitude in the same matter.
It is possible that no'
direct precedent existed for Mr. H ay’s remarkably
adroit and effective procedure. But if an innovation,
that incident was at least an innovation on the lines
of regular diplomatic precedent. The case of our
country’s attitude toward Nicaragua is hardly even
that. We are not criticising the motives under which
our Government has acted, nor are we denying that
the history of diplomacy provides abundant instances
of violent and at times ruthless action by one govern
ment against another, not on the basis of complaint
There was so much of the exceptional and the such as is commonly made the basis for such action.
unprecedented in this action by our Government that But the policies of Frederick the Great and Napoleon I
unusual consequences were naturally to be looked for. would not be the kind of precedent which our Govern
the first party in interest to.be heard from was Zelaya ment, even in small affairs, would choose to imitate,
himself, who on Dec. 4 asked the United States to and the perplexity of the present instance arises from
send a commission to investigate his regime, offering the difficulty of determining exactly what situation
to resign if the findings of that commission should be now exists and what future general policy it fore
that
his
administration
Central America,
had
been
detrimental
to
shadows.
this might, of course, have been
In a case of revolutionary uprising in a given coun
either a demand for justice by an innocently accused
person or a shrewd play for delay by an entirely
try, another nation may properly declare a state of
guilty party. It was, however, a move as unprece
dented in its way as was that of our State Department.
Next came a species of diplomatic intervention on the
part of Mexico, whose Minister at Washington was
reported to have called at the State Department to
ask for suspension of judgment regarding Zelaya.
belligerency
to
exist
between
the State
and
the
revolutionists. This is to safeguard rights of neutral
parties. But the situation now existing does not
appear to fall clearly under that category. What
would be the position of affairs if Nicaragua were a
powerful government, does not seem to admit of doubt.
Either Zelaya would have been, in the eye of diplo
macy, the head of Government, or he would not.
If he was, then the note of Secretary Knox would
This part of the negotiations has naturally not been
reported fully; it is at least admissible to suppose that
Mexico, resenting the action by our Government, in unquestionably have meant war. If he was not,
advance of conference and co-operation with another then it is difficult to see why our State Depart
Government so deeply interested in Central American ment should have even unofficially kept up negotia
affairs as is Mexico, had chosen this diplomatic way tion with his envoys. It would also seem that some
of expressing its state of mind. The dispatches, how unfortunate possibilities are created in the case of
ever, seem to indicate that Mexico’s attitude has not Mexico, and as regards the Monroe Doctrine in
Finally, on
general, we shall surely hear from foreign critics that
Monday of the present week, Senator Rayner of Mary
met with favor at the State Department.
while we are forbidding European interference in the
land, speaking apparently for himself rather than for private affairs of Central or South American republics,
the Foreign Affairs Committee, of which lie. is a we are ourselves interfering in a summary way.
member, made some suggestions which were equally
W e do not recite these perplexing considerations by
striking as a departure from diplomatic precedent.
Zelaya he denounced unqualifiedly, asserting that “ in
way of declaring our conclusion that the Government's
policy has been unwarranted.
The case was undoubt-
THE CHRONICLE
1570
edly extremely difficult, and Mr. Taft is too good a
Constitutional lawyer to have been likely to take a
rash and unjustifiable step. It may be, indeed, that
the case was urgent and that the line of policy adopted
•was the only available solution. Y et it seems to us
-that one might have wished the action to have been
along the line of better precedent. Secretary Root
ihad devoted his diplomatic energies,with the greatest
[V O L . L X X X IX .
first preferred, $30,278,290 second preferred and $74,
745,300 common stock— all American money.
It appears from the report that the gross earnings
for the year under review on the 5,261 miles of road
merged were $48,805,522 in Mexican silver. In the
report the lines are treated as if the new company
had operated them for the whole of the twelve months,
though, as a matter of fact, the physical transfer of
•circumspection, to instilling in the minds of republics the properties did not take place until Dec. 31 1908
to the south of us the idea that the United States, in the case of the Hildalgo & Northeastern, not until
Jan. 1 1909 in the case of the National Railroad Co.
of Mexico and not until Feb. 1 1909 in the case of the
Mexican Central Railway Co. The results of the
separate operation of the different properties prior
to their merger with the new company are combined
good results to Nicaragua of this virtual unseating of a with that of the latter so as to present a completed
tyrannical Dictator, what precedent does it create, and whole for the year.
No comparison of gross earnings with the preceding
how far might the Central American States apprehend
while insisting alike on the Monroe Doctrine and on
maintenance of reasonable order, had no purpose
of interfering with the internal administration of those
States. Such assurance was admittedly desirable
after the Panama-Colombia episode. Granting the
year is furnished; computations we have made, how
ever, based on the comparisons given in the monthly
of international diplomacy. The minds of the people statements of the separate properties issued during
in a given country will always be easier when,in the the course of the year, indicate that the total of the
million dollars
event of a notable diplomatic action by their State gross at $48,805,522 falls about
that the precedent would be carried?
It is precedent which makes trouble in the affairs
Department, they can look not only back to precedent, below the total of the gross of the same lines for the
but can look ahead through a long series of future twelve months preceding. In this decrease we see
years and feel confident what use will be made in the the effects of the adverse conditions with which the
new company had to contend. Mexico, like the
future of the precedent created.
United States, suffered from general trade depression
following
the financial disturbances in this country
THE NATIONAL RAILWAYS OF MEXICO
REPORT.
The first annual report of this consolidated railway
n the previous year. Then the low price of metals
was a very important adverse influence, considering
how large is the mineral product of the Mexican Re
public. Furthermore, there was also a partial failure
1909, has been issued the present week, and the re
of crops in certain districts. In the report of the
sults which it discloses show that those who devised
Mexican International Railroad, which, as already
this large combination of Mexican roads under the con
stated, has been operated as a separate property, an
trol of the Mexican Government planned wisely. It
is also evident that, though conditions during this analysis is furnished of the changes in traffic from the
property, covering the twelve months ending June 30
year preceding, and this conveys an idea of the ex
built on the merger, and the fruits and advantages it tent to which the adverse conditions affected the dif
was hoped to derive from the same, are being fully ferent classes of traffic.
In the case of the International, gross earnings
realized. The roads embraced in the combination
for the twelve months fell from $8,281,565 in 1908 to
are the old Mexican Central R y ., comprising the line
$6,953,284 in 1909, the decrease amounting to over
from El Paso to the City of Mexico, together with its
1 6 % . In the freight traffic the loss for that road
branches, and the old National Railroad of Mexico,
reached 148,651 metric tons, or 9 .3 0 % . It appears
from Laredo to the City of Mexico, with branches,
that with the exception of agricultural products there
and also the Hidalgo & Northeastern Railroad. The
was a decrease in tonnage in each of the five general
consolidated property embraced on June 30 1909,
sub-divisions in the classification of freight. The agri
according to the present report, 5,261 miles of road,
cultural tonnage slightly increased, but it is pointed
of which 4,734 miles are standard-gauge lines and 528
out that this is not an indication of improvement in
miles are narrow-gauge.
Besides the 5,261 miles of road directly operated, that class of freight; rather is it due to the fact that
however, the Mexican International and the Inter commodities of this nature were brought in from other
districts. As a matter of fact, both the corn and cot
oceanic Railway of Mexico are controlled through
stock ownership, and, moreover, the Interoceanic has ton crops had been materially reduced on account of
recently entered into an agreement for the lease of the light rains and an early frost.
In mineral products there was a very heavy de
Mexican Southern R y . The International comprises
crease
in tonnage on the International, chiefly in oies,
917 miles, the Interoceanic 736 miles and the Mexican
first year were decidedly adverse, yet the expectations
Southern 320 miles. Adding these 1,973 miles to the
5,261 miles already merged in the National Railways
of Mexico (Ferrocarriles Nacionales de Mexico), we
and this is explained as having been due largely to the
low price of metals which prevailed throughout the
year. The decrease in the tonnage of general mer
get a grand aggregate of 7,234 miles. From this it
can be seen how large is the extent of road under the
control of the Mexican Government. The latter, it is
chandise is also referred to. It must be accepted, it
is stated, as an indication of the adverse financial con
ditions and general depression which existed in Mexico,
proper to say, owns just a little in excess of half the
\ authorized amount of stock of the consolidated com
as elsewhere, throughout the year. It is evident,
says the report, that the demand for supplies of this
character was only such as to meet the most urgent
pany, namely $115,023,590 out of $230,000,000,
American money; its holdings consist of $10,000,000
necessities.
The loss here was particularly serious,
D eo . 18 1909.]
1571
THE CHRONICLE
it is pointed out, inasmuch as the commodities coming
under that heading, generally speaking, bring in the
For the new or current fiscal year the prospects are
considered very bright. The rainfall has been heavier
highest revenue returns per ton; for this reason the
decreased tonnage affected the revenue moie ad
versely than the loss in any other branch of the traffic.
W e assume that what was true of the Mexican In
than in other recent seasons, promising much larger
ternational was also true of the 5,261 miles of load
embraced in the merged lines of the National Railways
of Mexico. It is hence, noteworthy that with gross
earnings of $48,805,522 (in silver), or, as already stated
crops, besides which general business is reviving in
Mexico the same as in the United States. For the
four months of the new year to Nov. 1 gross earnings
have increased $560,288 and net earnings $308,562
notwithstanding that over portions of the lines traffic
has been interrupted and much damage done b y the
violence of the rains. In the same four months the
about 3M million dollars less than in the preceding net earnings of the Mexican International have in
period of t welve months, by reason of business depres creased $267,924 and those of the Interoceanic R y sion and the other adverse circumstances enumerated, $97,234.
yet the company’s income account shows that not
only were all the year’s fixed charges earned in full, RAILROAD GROSS AN D NET EARNINGS FOR
OCTOBER.
but also the guaranteed dividend of 2 % on the first
The distinctive feature in the returns of earnings,
preferred stock. Moreover, this was the result after
allowing $1,340,400 (silver) as a reserve for accrued
depreciation of equipment and after deducting $63,
357 (silver) as 5 % of the net profits transferred to the
now as for many months past, is the large gains dis
closed both in the case of the gross and of the net.
Our compilations this time cover the month of October,
reserve fund. Over and above these deductions and and, as in preceding months, are unusually complete,
allowances, a small surplus ($50,469 in Mexican silver) inasmuch as they are based on the returns required
each month by the Inter-State commerce Commission
is shown on the operations and results for the year.
The achievement here shown was made possible by from all the roads in the United States, and we make
the economies effected in operations. W e have stated it a practice to get transcripts of these reports for
that there is no comparison of the earnings in the re warded to us as soon as filed with the Commission.
port. There is, however, a comparison of the ex In the number of our “ Railway Earnings” Section
penses, and this shows that expenses in 1908-09 were which accompanies to-day’s issue of the “ Chronicle, ’
only $29,166,893, as against $35,355,648 in 1907-08,
a decrease of $6,188,755 in Mexican silver. It follows
that, by reason of this reduction in expenses, net earn
ings were actually increased in amount of nearly
$3,000,000, notwithstanding the loss of 3}4 million
dollars in the gross earnings. The bulk of the saving
in expenses was in the cost of conducting transporta
we give the October figures in detail for every railroad
which had rendered its return for that month up to
yesterday morning. The summaries we present in
this article are the aggregates derived from the state
ments of these separate roads.
,
Altogether, we have returns from 699 separate roads
or systems, comprising in the aggregate 222,632 miles
Under that head of road, or about 9 6 % of the entire railroad mileage
the decrease was $4,615,770. Maintenance expenses of the country. For these roads, the gain amounts
to $26,077,330 in gross, or 1 1 .5 8 % , and to $13,790,955,
decreased $1,523,562 and general expenses $49,423.
The report tells us that maintenance of the property )r 1 6 .2 5 % , in the net. These gains are far in excess
received careful attention, and efforts were exerted )f the losses sustained last year. In October 1908 our
in every direction to keep it in good physical condition. :ompilation covered 203,231 miles of road and showed
It is pointed out that the consolidation of the lines mly $16,721,406 loss in gross, with $5,419,091 gain in
has made it possible to effect certain economies with let. In May of the present year the.Inter-State Comrespect to the operation of the merged lines, and that nerce Commission published the completed results
the results in that direction already attained “ serve or October last year, covering 231,721 miles of road,
to demonstrate the possibilities for the future.” All md this showed $18,196,132 loss in gross with $5,176,
tion, indicating genuine economy.
this is significant, seeing that the economies resulting
from the merging of the lines were not actually realized
except during the last five months of the year, inas
much as the Mexican Central property was not taken
over, as already stated, until Feb. I 1909. Ihese
economies will be carried a step further when the
Mexican International Railroad, still operated sepa
rately, shall also be merged, which it is contemplated
to do just as soon as the legal prerequisites needful to
153 gain in net. It is thus apparent that the present
year’s gains represent much more than a recovery of
last year’s loss, as far as the gross is concerned, and an
actual improvement to the full amount in the net.
— Increase or Decrease—
October (699 roads)—
1909.
...........
2 2 -,632
Ulles of road
Iross earnings..............
5251,187.152
3peratlng expenses................. 151,943,714
» « * ..
219,144
3225.109.822
139,657.339
Net earnings .............. ' . - . 399,243.438
$85,452,483
A m ro*.
%
Inc.
3.483 1.59
Inc. S20.077.330 11.68
Inc. 12.286,375 3.79
Inc. $13,790,955
16.26
It is hardly necessary to inform the reader that frrior
mna +1ip rpprml was nnp of continuous improvement
that end shall have been complied with.
With the dividend on the first preferred stock paid in earnings in the case of the gross all the way back to
out of earnings, it was not, of course, necessary to 1896, though not by any means in the case of the net,
fall back on the special reserve fund which had been where the upward trend in three of the yearn was
created to guard against the contingency of insuffi broken by decreases caused by an augmentation in the
cient revenues. To assure to the first preferred shares expenses! Even in 1907, in October of which year
semi-annual dividends of 1% for three years from the panic occurred, there was a large improvement
Jan. 1 1908 to the extent to which net profits should in the gross, though the net then recorded a consid
not be sufficient to make such payment, a fund for erable loss, owing to the way expenses were rising,
that purpose was established to consist of $1,800,000 that having been a noteworthy characteristic of the
prior lien bonds and $1,200,000 guaranteed general returns at that time. In the following we furnish a
summary of the October comparisons of gross and net
mortgage bonds, or the proceeds thereof.
1573
THE CHRONICLE
for each year back to 1896.
For 1908 we use the Inter
State Commerce totals, but for preceding years we
give the results just as registered by our own tables
each year— a portion of the railroad mileage of the
country being always unrepresented in the totals, ow
ing to the refusal of some of the roads to give out
monthly figures for publication.
Gross Earnings.
Year.
M i
Oct.
1896 . .
1897 . .
1898 . .
1899 . .
1900 . .
1901 . .
1902 . .
1903 . .
1904 . .
1905 . .
1906 . .
1907 . .
1908 . .
1909 . .
Year
Given.
Year
Preceding.
N et Earnings.
Increase or
Decrease.
S
S
S
62,589,268, 65,982,600 — 3,393,332
72,051,957! 67,359,774 + 4,692,183
79,189,550 74,808,267 + 4,381,283
93,439,839! 82,648,011 + 10,791,828
101,185,248| 97,613,383 +3,571,865
114,274,630 100,811,585 + 13,463,045
112,017,914 105,740.749 + 6,277,165
122,375,429 112,380,430 + 9,994,999
130,075,187| 125,423,583 + 4,651,604
136,313,150 125,758.596 + 10,554,554
143,330,728! 128,494,525 + 14,842,203
154,309,199 141,032,238 + 13,276,961
232,230,451250.426,583 — 18,196,132
251,187,152 225.109.82z +26,077,330
Year
Given.
Year
Preceding.
Increase or
Decrease.
S
24,162,741
27,875,335
32,203,684
36,761,616
38,239,892
45,303,549
40,609,565
43,341,694
48.561,130
49,824,783
51,685,226
46,983,608
88,534,455
99,243,438
•S
25,938,287
25,825,573
29,708,237
32,652,688
38,530,251
37,609,947
41,086,351
40,934,029
43,713,268
46,794,680
40,826,357
50,847,903
83,358,002
85,452,483
S
— 1,775,546
+ 2,049,762
+ 2,495,447
+ 4,108,928
— 290,359
+ 7,693,602
— 416,786
+2,407,665
+ 4,847.868
+ 3,030,103
+ 4,858,869
— 3.864,295
+ 5,176,453
+ 13,790,955
N ote.— 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, 111; in 1902 105'
In 1903,168; in 1904,100; In 1905,96; In 1906, 91; in 1907, 88; in 1908,796; In 1909 699
The favorable results revealed by the general totals
are repeated in the returns of the separate roads. The
list of gains is a very lengthy one, many of them being
for very large amounts, while the losses are infreqeunt
and very generally of minor consequence. In the case
of the gross there is no decrease for an amount reach
ing 8100,000. In the net there are two large systems
recording a loss above the figure mentioned. The
Chicago
has
& North
$317,877
Western is
decrease
in
one
net,
of
these
and
and
the
Chi
cago Burlington & Quincy is the other, with $219,
686 decrease. In both instances the losses follow en
tirely from augmented expenses, as the gross earnings
of the Burlington & Quincy were $675,096 above those
of last year and those of the Chicago & North Western
$579,419 above. The noteworthy increases in ex
penses in these cases reflect a disposition on the part
of managers of large properties to be liberal with their
expense accounts in the way of repairs, renewals, &c.,
the moment there are evidences of prosperity and a
likelihood of its continuance . Last year losses pre
dominated among the separate roads as far as the gross
earnings are concerned, but on the other hand in the
net (on account of the fact that the roads had got con
trol of their expense accounts) increases among the
separate roads were much the more numerous. It
thus happens that in many cases the improvement
in net the present year follows improvement last year.
Conspicuous instances of this kind are the Union Pa
cific, which now has $857,427 gain and last year had
$914,529; the Southern Pacific with $1,428,752 in
crease this year after $908,950 increase in 1908; the
Atchison, with $573,807 gain following $498,232; the
Great Northern, with $575,276, following $494,747,
& c., &c.
The New York Central has $197,709 addition to net
besides no less than $875,332 in October 1908. For the
New York Central System, embracing all the various
Vanderbilt lines east of Chicago, the improvement
in October 1908 was only $245,700, but this year
reaches no less than $1,715,741. The Pennsylvania
lines directly operated east and west of Pittsburgh
head the list of increases in the net this time with a
gain of $1,749,001.
Last year there had been a loss
on these lines of $462,700. But while this year’s im
provement in the net for this system far exceeds last
year’s loss, on the other hand in the case of the gross
the 1909 recovery is not equal to the 1908 decrease.
V O L . L X X X IX
In other words, though the Pennsylvania this year has
no less than $3,427,733 addition to gross, in 1908 its
loss in gross for the month was $4,173,100. In the fol
lowing we show all changes for the separate roads for
amounts in excess of $100,000, whether increases or
decreases, both in the gross and in the net.
P R I N C I P A L C H A N G E S IN (iR O S S E A R N I N G S I N O C T O B E R .
In crea ses.
P e n n s y lv a n ia ...................-.| /$ 3,4 27,7 33 Cen tral o f N e w J e r s e y ___
$252,196
S ou th e rn P a c ilic __________
1 ,616,065 E r i e --------------------------------251,680
U n ion P a c ific ____________
1 ,190,876 E lgin J o lie t & E a s t e r n ..
220 ,656
A t c h T o p e k a & S an ta Fe
1,149,931 D u lu th & Iro n R a n g e ___
213,403
B a ltim o re & O h io _______
1,065,832 C leve Cin C h ic & St L o u is
211,171
G rea t N o r t h e r n ................
1,0 3 0 ,3 5 8 C h icago M ilw & St P a u l.
206,501
R o c k Is la n d _____________
777 ,663 S e a b o a rd A ir L in e _______
192 ,699
N Y Cen tral & H ud R iv e r
a74 5,94 2 C olo ra d o & S o u t h e r n . . .
160 ,976
C h ica go B u rl & Q u in c y ..
675 ,096 C h icago & E astern 111______
149 ,656
M issouri P a cific __________
621,704 S t L ou is S o u t h w e s t e r n ..
136,961
C h ica go & N orth W e s t . .
579,419 D elaw are L a ck & W e s t . .
136,486
N o rth e rn P a c i f i c ________
524,006 C incin H a m ilto n & D a y t
136,413
N o rfo lk & W e s te rn _____
515,687 Cin N ew O rl & T e x a s P a c
133 ,664
L a k e S h o re & M ich S o u th
511,951 N Y C h icago & S t L o u is .
133,163
N Y N ew H a v e n & H a r tf
482,073 N orth ern C e n tra l________
129 ,477
S ou th ern R a ilw a y _______
452 ,608 P ere M a r q u e tte ____________
128,220
P itts b u rg h & L a k e E r ie .
410 ,122 M Inneap & S t L o u is ____
120,988
C h esapeake & O h io _____
374 ,793 L o n g Is la n d ------------------------118,561
P h ila d elp h ia & R e a d in g .
370 ,5 3 7 Cen tral o f G e o rg ia _______
118,052
L o u isv ille & N a s h v ille ..
356 ,302 U n ion R R (P e n n )__________
117,160
Illin ois C e n tra l___________
329 ,789 L eh igh V a lle y ----------------------116,922
M ich igan C e n tra l________
314,423 P h iia B alt & W a s li_____
114,921
B o s to n & M aine__________
311 ,984 D elaw are & H u d s o n ____
110,405
S t L ou is & San F ra n cisco
311 ,036
D en ver & R io G ra n d e ___
291,899
283,789
W a b a s h ___________________
R e p re s e n tin g 50 roads
A tla n tic Coast L in e ______
281 ,003 j
in o u r c o m p il a t i o n ..$ 2 2 ,6 1 2 ,9 5 2
N o te .— A ll th e figu res in the a b o v e are o n th e basis o f th e returns filed
w ith th e I n te r -S ta te C o m m e rce C om m ission .
W h e re , h o w e v e r, these
returns d o n o t sh o w the to ta l fo r a n y s y s te m , w e h a ve c o m b in e d the
se p a ra te roads so as to m ake th e results co n fo rm as n early as p ossib le to
th o se g iv e n In the sta te m e n ts fu rn ish ed b y the co m p a n ie s th em selves.
a T h ese figures c o v e r m e re ly th e o p e ra tio n s o f th e N ew Y o r k C e n tra l
itse lf.
I n c lu d in g th e v ariou s a u x ilia ry an d c o n tr o lle d ro a d s , lik e th e
M ichigan C en tral, the L a k e S h ore, the “ B ig F o u r ,” th e ‘ ‘ N ick e l P la t e ,”
& c., th e w h ole g o in g to fo r m th e N ew Y o r k C en tral S ystem , the resu lt is
a gain o f $ 2 ,7 8 3 ,5 0 4 .
V T h ese figures rep resen t th e lines d ir e ctly o p e r a te d ca st a n d w est o f
P itts b u rg h , Eastern lines s h o w in g $ 1 ,9 1 6 ,7 5 6 Increase an d th e W estern
lines $ 1 ,5 1 0 ,9 7 7 .
F o r all lines o w n e d , lea sed , o p e r a te d anti controlled the
result fo r the m o n th is a g ain o f $ 4 ,1 2 8 ,8 6 7 .
P R I N C I P A L C H A N G E S IN NET E A R N I N G S IN O C T O B E R .
Ttirrpn
Increases.
P e n n s y lv a n ia ....................... i/$ l,7 4 9 ,0 0 l A tla n tic C oast L in e ...........
$ 170,012
S ou th ern P a c i f i c ________
1,428,752 C o lo ra d o & S o u th e r n ____
158,024
857,427 N orth ern C e n t r a l . . ..........
U n ion P a c i f i c . . ................
150,924
R o c k I s la n d _____________
585,521 C h icago & E astern 111___
140,943
G rea t N o rth e r n __________
575,276 M issouri K ansas & T e x a s
138,547
A tc h T o p e k a & S an ta F e
573,807 D u lu th & Iron R a n g e . . .
137,986
N Y N ew H a ve n & H a r tf
487 ,7 2 4 C h ica go G t W e s t e r n ____
134 ,077
P itts b u rg h & L a k e E r ie .
395 ,499 D e n v e r & R io G ra n d e ___
131,201
M issouri P a cific __________
394 ,518 B a ltim o re & O h io _______
129,693
L o u isv ille & N a s h v ille ..
3 80 ,160 D elaw are & H u d s o n ____
124,848
L a k e Sh ore & M ich S o u th
319,447 Central o f G e o rg ia _______
1 t o , 369
E r i e ----------------------------------256 ,650 St L ou is S o u th w e ste rn .
108,557
M ich igan C e n tra l________
235,769 D elaw are L a ck & W e s t ..
108,438
205,622
W a b a s h .....................
Cen tral o f N ew J e r s e y ___
204 ,425
R e p re s e n tin g 33 roads
N o rfo lk & W e s te rn _____
201,977
In o u r c o m p ila t io n . .$ 1 1 ,5 2 9 ,0 3 9
N Y C en t & H ud R i v e r . .
a 197,709
S ou th ern R a ilw a y _______
195,437 C h icago & N o rtliW e s te rn
$31 7,87 7
S ea b o a rd A ir L in e _______
192,715 C h icago Burl & Q u i n c y . .
219,686
C leve Cin C h ic & St L o u is
176,558
C h esapeake & O h io _____
171,426
R e p re se n tin g 2 roads In
_.
„
.
o u r c o m p ila t io n ____
$537,563
a 1 hese figures c o v e r m e re ly the o p e ra tio n s o f the N ew Y o r k C entral
its e lf.
F o r the N ew Y o rk C entral S ystem the result is a gain o f $ 1 ,7 1 5 ,7 4 1 .
//T h e s e figures represen t the lines d ir e ctly o p e r a te d ca st an d w est o f
P ittsb u rg h , the E a stern lines sh o w in g $ 1 ,0 8 9 ,0 1 2 Increase an d the W estern
lines $659,989 Increase.
F o r all lines o w n e d , le a se d , o p e r a te d and controlled
th e result Is a gain o f $ 2 ,1 5 1 ,2 2 9 .
As in the month precedings, when the roads are ar
ranged in groups, every group without exception shows
better gross and also every group without exception
better net. Our summary by groups is as follows:
SU M M ARY B Y GROUPS.
■Gross Earnings------------Inc. ( + ) or
1909.
1908.
Dec. (— ).
October—s
$
S
Group l (26 roads), New England____ 11,409,058 10,522,489
+ 886,569
Group 2 (131 roads), East A- M id dle.. 59,650,304 53,580,220 + 0,070,078
Group 3 (95 roads), Middle W e s t .'.. .. 35,358,186 30,824,300 + 4,5 33,8 86
Groups 4 & 5 (136 roads). Southern.. 29,197,857 26,103,685 + 3,0 94,1 72
Groups 6 & 7 (109 roads), N orthw est-. 5 ,528,120 53,343,992 +5,184,128
Groups 8 & 9 (1 4 / roads), Southw est-. 41,553,3u4 37,593,604 + 3,959,640
Group 10 (53 roads), Pacific Coast____ 15,490,323 13,141,460 +2,348,857
Section or Group—
8.42
11.34
14.71
11.85
9.89
10.53
17.87
Total (699 r o a d s ) .. . .......................... 251,187,152 225,109,822 +26,077,330 11.58
-------M ilcage1909.
1908.
Group No. 1........... .
Group No. 2 ______ .
Group No. 3 ______ .
Groups Nos. 4 fc 5. .
Groups Nos. 6 & 7 . .
Groups Nos. 8 A 9. .
Group No. 10......... .
7,459
25,994
25,863
37,681
57,952
52,927
14,758
7,455
25,693
25,694
36,990
57,149
51,815
14,048
-----------------------Net Earnings--------------------------1909.
$
4,148,184
22,655,913
13,699,601
11,210,530
24,247,382
15,483,658
7,798,142
1998.
$
3,459,916
19,665,882
10,922,389
9,287,213
23,063,825
12,983,952
6,069,306
T o t a l ....... ............ .222,632 219,144 917,243,438 85,452,483
N O T E — 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. com bined 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 South Dakota and North Dakota, and
Missouri north of St. Louis and Kansas City; also all of Montana, W yom ing and
Nebraska, together with Colorado north of a line parallel to the State line, passing
through Denver.
Groups V I I I . and I X. com bined Include all of Kansas, Oklahoma, Arkansas and
Indian Territory; Missouri south of St. Louis and Kansas City; Colorado south
of Denver; the whole of Texas and the bulk of Louisiana; and that portion 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.
Group X . Includes all of Washington, Oregon. Idaho, California, Nevada, Utah
and Arizona, and the western part of New Mexico.
D e c . 18 1900.)
THE CHRONICLE
1573
declaring that when the State Banking Board concludes its
accounting, all records of the institution will be turned over
ro a d s w e c o n fo rm
to
t h e g r o u p in g o r c la s s ific a t io n
to the grand jury should the District Court demand it. The
a d o p te d
b y
t h e I n t e r -S t a t e C o m m e r c e C o m m is s io n
jury is reported to have adopted resolutions on the 8th inst.
T h e o n ly d e p a rtu r e w e m a k e fro m
th e C o m m is s io n ’s
expressing “ supreme contempt for the methods resorted to
by the State and county officials in order to protect crimi
a r r a n g e m e n t is t h a t w e h a v e c o m b in e d G r o u p s 4 a n d 5 ,
nals.” The jury, it is stated, was particularly indignant
s o a s t o b r i n g a ll t h e S o u t h e r n r o a d s t o g e t h e r u n d e r o n e
that the Attorney-General was not permitted to sign the
h e a d ; a ls o G r o u p s 8 a n d 9 , s o a s t o b r in g th e S o u t h
incomplete indictments. Mr. W est was commended for his
w e s t e r n r o a d s t o g e t h e r , a n d h a v e lik e w is e c o m b in e d
“ faithful, conscientious and fearless efforts to enforce the
G r o u p s G a n d 7 , th e s e la t te r c o m p r is in g th e s y s te m s
law .” Another grand jury, it is announced,-will be im
paneled in January to inquire into the records of county
r u n n in g w e s t a n d n o r t h w e s t o f C h ic a g o , th e m ile a g e
officers, and probably investigate the failure of the trust
o f m o s t o f w h ic h s p r e a d s o v e r th e t e r r it o r y c o v e r e d
company.
b y b oth grou p s.
W e d o n o t in c lu d e a n y o f th e C a
— The Farmers’ National Bank of Tulsa, Okla., was closed
n a d ia n lin e s in o u r fig u r e s e x c e p t o f c o u r s e s o m u c h o f
by National Bank Examiner Bryant on the 13th inst. On
t h e s a m e a s lie s w it h in
th e U n it e d S ta te s a n d
fo r
the following day the First State Bank of Kiefer, Okla.,
which is said to have had 830,000 on deposit in the Tulsa
w h ic h r e t u r n s a r e file d w it h t h e C o m m is s io n .
institution, closed its doors. The Farmers’ National is
T h e c o n fin e s o f t h e d iffe r e n t g r o u p s a r e in d ic a t e d in
alleged to have been affected by the suspension in September
t h e f o o t n o t e s t o t h e a b o v e t a b l e , b u t it is i m p o r t a n t
of the Columbia Bank & Trust Co. of Oklahoma City. W . L.
to n o te th a t w h ere a ro a d or sy ste m co v e rs m o re th a n
Norton, who was President of the Columbia, was reported
o n e g r o u p , o r o v e r la p s in t o o t h e r s , w e h a v e n e c e s s a r ily
as holding a controlling interest in the Farmers’ National, but
this he denies, according to the Omaha “ Bee” of the 15th inst.
b e e n o b lig e d t o p la c e it in s o m e p a r t ic u la r o n e o f t h e
The Tulsa institution is said to have deposits of 8475,000,
g r o u p s , as n o w a y e x is ts o f d iv id in g it u p a m o n g th e
of which 8200,000 are State, city and county funds. Re
t w o o r m o r e g r o u p s w h e r e it m a y b e lo c a te d .
O ur
ports have it that Bank Examiner Bryant, after a week’s
p la n in s u c h c a s e s h a s b e e n t o p la c e t h e r o a d o r s y s t e m
examination, directed the officials to provide better security
in t h e g r o u p w h e r e t h e b u l k o f t h e r e v e n u e s is a p p a r
for 8100,000 of paper, but that the order was not complied
with. The First State Bank of Kiefer, it is stated, has de
e n tly o b ta in e d .
In
th e ir a n n u a l s ta te m e n ts t o
th e
posits of approximately 880,000, the State having on de
I n t e r -S t a t e C o m m e r c e C o m m is s io n , t h e c o m p a n ie s a r c
posit 81,400 in school land money.
r e q u ir e d t o s h o w t h e a m o u n t s e a r n e d in e a c h o f t h e
— A reduction in the rate of interest on savings deposits
g r o u p s , b u t o f c o u r s e n o s u c h d i v i s i o n is a t t e m p t e d in
has been made by several of the local institutions, the
th e ca se o f T h e m o n th ly re tu rn s.
Bowery Savings Bank, which has the largest amount of
deposits among institutions of its class, being one of those
ITEM S ABOUT B A N K S , B AN K ER S A N D TRU ST GO’S. which has decided upon the change. The dividend declared
— The public sales of bank stocks this week aggregate by the bank is at the rate of 3 } ^ % per annum, instead
I , 803 shares, of which 052 shares were sold at the Stock of 4 % , which has been the prevailing rate for the last few
Exchange and 1,151 shares at auction. The transactions in years. The North River Savings Bank and the Union
trust company stocks reach a total of 32 shares. The un Square Savings Bank have announced a like reduction, and
usually large total of auction sales of bank stocks is due to it is expected that the Dry Dock Savings Institution will take
the sale “ for account of whom it may concern” of 1,000 a similar course. Some of the large banks which will adhere
shares of Fourth National Bank stock at 201. Three hundred to the 4 % rate are the Emigrant Industrial Savings Bank,
and sixty-three shares of Fourth National stock were also sold the Greenwich, the Bank for Savings and the New York
at the Stock Exchange in small lots at prices ranging from Savings Bank.
205 to 215, the close to-day being at 210. In a statement
— The proposition to increase the capital of the Fourth
issued after the stockholders’ meeting on Thursday, at which National Bank of this city from 83,000,000 to 85,000,000
the proposed increase in the capital was authorized, Mr. was endorsed by the stockholders on Thursday. As de
J. Edward Simmons, President of the Fourth National
tailed in our issue of N ov. 20, the new stock is to be sold at
Bank, referred to “ apparently malicious efforts to depress 8200 per share, the surplus being thereby increased to
artificially the market price of the bank’s shares,” which 85.000 . 000 also. A block of 1,000 shares of stock of the
sold in November as high as 2G5. Stock of the Hanover institution was sold at auction on Wednesday at 201, Henry
National Bank, which had not been publicly dealt in since It. Carse, Vice-President of the Hanover National Bank,
May 1009, was sold this week at GG3, an advance of 122
being reported as the purchaser, though Mr. Garse refuses
p o in ts .
either to confirm or to deny the statement. On the same
P
revio
u
s
Sale.
C
lose.
Last
H
igh
.
S hares. B A N K S — N ew Y ork.
Low .
day sales (small lots) were effected on the Stock Exchange
1000—
520
450
450
Jun
e
10 C h em ical N a tion a l B a n k . 450
D e c.
1 0 0 0 - 420
420
420
at 205-215. Following the announcement of the intention
♦13 C ity B a n k , N a t io n a l-------420
1 0 0 9 - 211
210
D e c.
217
«2 7 7 C o m m e rce , N at. B a n k o f . 210
to enlarge the capital, the stock sold as high as 8265 per
1909— 230
D e c.
210
215
Til ,303 F o u rth N ation a l B a n k —
201
share, and a week ago its selling price was in the neighbor
N o v . 1900— 299 %
200
200
100 G arflcld lN a tlon a l B a n k . . 200
1909— 541
M ay
003
003
hood of 8240-8245. While it has been understood that the
7 H a n o v e r N ation a l B a n k . 003
1909— 507
18 I m p . & T r a d e rs ’ N a t. Ilk . 507 M 507 Vi 507 'A D e c.
Hanover National Bank interests would not be averse t o
.1
9
0
0
—
305
D
ec
311
311
10 M ech a n ics’ N a tion a l Bk_ 311
obtaining control of the Fourth, the management of the
A u g . 1909— 107 H
100
100
5 N orth ern B a n k __________ 100
latter does not look with favor on any such movement. W e
T R U S T C O M P A N I E S — N ew Y ork.
15 Carn egie T r u s t C o ______ 150 'A 100 'A 150 'A N o v . 1009— 105
print in full the following statement issued by the Fourth
17 N . V . L ife In s . & T r . C o -1 1 1 0
l l l O ^ l U O H D e c.
1000— 1 1 1 5 H
at the conclusion of Thursday’s meeting:
A s sta ted
by
u s in p r e v io u s m o n t h s , in
g r o u p in g
th e
♦ S old a t the S to c k E x ch a n g e , a O f this a m o u n t 270 shares w ere sold
a t the S to c k E x ch a n g e , h O f this a m o u n t 303 shares w ere sold a t t o
S to c k E x ch a n g e.
A t a m eetin g o f the shareholders o f th e F o u rth N a tio n a l B a n k held a t
3 o ’c lo c k this d a y It w as v o te d to Increase th e ca p ita l s to c k o f th e han k fro m
3 3 .0 0 0 .
000 to $ 5 ,0 0 0 ,0 0 0 b y a v o t e o f 22,878 shares in th e a ffir m a tiv e to
— Advices from Oklahoma City state that the investiga
tion which Attorney-General West had been making into the
affairs of the Columbia Bank & Trust Co. of Oklahoma City,
which suspended on Sept. 28, was brought to a sudden termi
nation by Gov. Haskell on the 7th inst., through the summary
canceling of Mr. W est’s authority to represent the State
before the grand jury. The Attorney-General, the New York
“ Tribune” stated, was not permitted to'sign three indictments
n o n e In o p p o s itio n .
T h e P re sid e n t o f th e b a n k s ta te d to th e sh areholders th at in v ie w o f th e
m a n y u n tru th fu l rum ors th a t had be e n c ircu la te d d u rin g th e p a s t fe w
d a y s , de trim e n ta l to th e best interests o f th e b a n k , he fe lt it In cu m b en t
u p o n him to sta te th a t the b o a rd o f d ire cto rs o f th e b a n k h a v e n o t en tered
in to a n y s y n d ic a te a rran gem en t, n o r h a v e t h e y m a d e a n y c o n tr a c t in re
s p e c t t o the sale o r p la cin g o f the shares o f Increased s to c k n o t s u b scrib ed
a n d paid fo r b y th e sh areholders.
In v ie w , h o w e v e r, o f th e a p p a r e n tly m aliciou s e ffo rts to depress a rtificia lly
th e m a rk e t price o f th e b a n k 's sh ares, w ith the e v id e n t p u rp o se o f thus
d eterrin g sh areholders fro m su b scrib in g fo r shares o f th e Increased s t o c k ,
th e b o a r d o f d ire cto rs w ill u n d o u b te d ly m ak e all p ro p e r e ffo rts an d d o
w h a te v e r m a y be le ga lly d o n e t o m a k e e ffe c tiv e a n y Increase o f s to c u v o te d
a t this m e e tin g .
T h e b o a r d will n o t fall In th e ir d u t y to p r o t e c t th e Interests o f Its sh are
h o ld e rs a n d th e cre d it o f the b a n k .
and
son
not
the
two accusations returned by the grand jury. The rea
assigned by the Governor for his action was that it was
to the best interests of the State that an investigation of
bank’s affairs be made at this time. He is quoted as
1574
THE CHRONICLE
— The proposition to increase the capital of the Chatham
National Bank of this city from $450,000 to $600,000 will be
placed before the stockholders for ratification at the annual
meeting on Jan. 11. The new $150,000 of stock, which ha
a par value of $25, will be issued at 3 2 0 % . The stockholders
will be asked to waive their rights to the proposed stock, and
to authorize the bank “ to dispose of all or any part of the
same to such interests as it may deem advantageous to the
bank from time to tim e.” It is also proposed to amend the
articles of association so that provision may be made for an
enlarged board and additional officers. Several months ago
a large interest in the institution was acquired by & syndicate
which includes F . W . Ayer and William A . Law, respectively
President and Vice-President of the Merchants’ National
Bank of Philadelphia, ex-Gov. Myron T . Herrick of Ohio, and
Sylvester C. Dunham, President of the Travelers’ Insurance
Co. of Hartford.
— Gates W . McGarrah, President of the Mechanics’ Na
tional Bank of this city, has been elected to the board of the
Mercantile Trust Co. The latter institution has added
$1,000,000 to its surplus account, making it $7,000,000. The
regular quarterly dividend of 5 % has been declared on its
capital of $2,000,000, together with an extra dividend
of 5 % , both payable Dec. 31.
— Edwin Hawley has been elected a director of the Inter
national Banking Corporation, succeeding the late George
Crocker.
— James R. Plum, Honorary Vice-President of the Im
porters’ & Traders’ National Bank of this city, died on the
10th inst. Mr. Plum, who was born in Troy in 1837, was
prominent in the leather trade, and was Treasurer of the
Union Tanning Co. and the Central Leather Co. He was
senior director of the Importers’ & Traders’ , having been a
member of its board since 1868. He was also one of the foun
ders of the Fifth Avenue Bank of this city, of which he was
a director at the time of his death. He was, too, one of the
oldest directors of the United States Life Insurance Co. and
was Chairman of its Finance Committee.
— The First National Bank of New York City declared this
week a special dividend of 8 % on its $10,000,000 capital, in
addition to the regular quaterly dividend of 5 % , these two
declarations along with the 3 % quarterly to be paid on the
stock of the First Security Co. making 1 6 % to be distributed
on Jan. 3. A total of 4 0 % for the year is thus represented in
the dividend payments on the stock of the two organizations.
The capital of the First Security Co., $10,000,000, was
provided for’ at the time of its formation in May 1908 through
a dividend of 1 0 0 % on the capital of the bank. The record
dividend of 1,9 0 0 % was declared by the bank when its capital
was increased, in 1901, from $500,000 to $10,000,000.
— The^extra dividend usually declared by the Liberty
N a wonal Bank of this city at this time has been increased
to J% and with the 5 % regular quarterly distribution will
m akeJ15% to be disbursed on Jan. 3 1910 to holders of
record Dec. 31. The extra payments in January 1909 and
1908 were 5 % each.
— With its third semi-annual dividend of 3 % declared this
week, the Fidelity Trust Co. of this city has also added an
extra dividend of 1 % , both payments to be made Dec. 31
to holders of record Dec. 24.
— Knauth, Nachod & ICuhne, bankers, announce that
Percival Kuhne, who has decided to retire as a general
partner in the firm, will on Jan. 1 become a special partner.
At the same time Arend H . Weingardt, now manager of the
Rotterdamsche Bank of Rotterdam, will be admitted as a
general partner, and will take up his residence in New York
about April 1. RollinC. Newton, who was recently admitted
to partnership, will represent the firm on the New York
Stock Exchange.
— The Manhattan Trust Co. of this city has this week
purchased the Gillender Building, located on the northwest
corner of Wall and Nassau streets, from Mrs. Helena L.
Gillender Asinari. The Trust Co. has occupied the lower
floor of this 18-story building since its erection twelve years
ago. It is possible that the Gillender Building may be
replaced with a 32-story structure, but plans for the change
have not been definitely settled. The Gillender Building
was considered one of the city’s highest buildings at the
time it was built and attracted the attention of sightseers.
[VOL. L X X X IX .
Of late years it has come to be known as the Manhattan
Trust Building. The structure occupies one of the most
valuable sites in the financial district, facing the Sub
Treasury, with J. P. Morgan & Co.’s offices and the Wilkes
Building on opposite corners.
— A dividend of 5 % , representing the thirty-fifth consecu
tive semi-annual payment, has been declared by the trustees
of the Fulton Trust Co. of this city, payable Jan. 3 to
stockholders of record Dec. 20.
— Frank A . Munsey has been elected a director of the
Second National Bank, Fifth Ave. and 28th S t., this city,
succeeding John L. Riker, deceased.
— Gates D . Fahnestock has decided to retire in January
as Third Vice-President and trustee of the Franklin Trust Co.
of Manhattan and Brooklyn boroughs. Ill-health has in
duced Mr. Fahnestock to take this course, and it is his in
tention to start on a trip through the Mediterranean on the
20th of next month. Mr. Fahnestock, while holding the
title of Third Vice-President, was practically the First Vice
President, William H . Wallace and Edwin S. Marston, who
take precedence in the list of officers, being honorary Vice
Presidents. Mr. Fahnestock has been in active business over
forty years, and during that period has availed of but little
vacation or rest. He has served the company as Vice-Presi
dent for nine and a half years, and his zeal in its behalf is
attested to in resolutions passed by the trustees, recording
their appreciation of his untiring devotion to duty and the
painstaking care and attention he has given to the company’s
interests, and expressing wishes for his complete restoration
to health.
— The Bank of North America of Philadelphia conveys
New Year’s greetings to its depositors, stockholders and the
business public, through its customary leather-bound vestpocket memorandum book, which has just been issued for
the year 1910. The institution, chartered by the Continental
Congress in 17S1, was the first bank chartered in the United
States. It came under the national system in 1864. On
N ov. 16 last its deposits were $15,018,379, while its total
resources were $19,089,422.
— The stockholders of the National Bank of Commerce
of Baltimore on Thursday ratified the proposition to increase
the capital from $300,000 to $500,010. The surplus will
likewise be increased to $500,010, the purpose being to dis
pose of the stock, par $15, at $30 per share. Resolutions
were adopted requesting that, instead of availing of the
privilege of paying for the new stock one-half in January
and one-half in April, payment in full be made by the stock
holders before Jan. 3.
— R . Henry Lynn, President of the American National
Bank of Washington, D . C ., was drowned on the 3d inst.
while gunning on the Susquehanna Flats, at the mouth of
the Susquehanna River. Mr. Lynn was born in 1867. He
had been connected with the bank since 1903, originally as
Cashier, and had succeeded Robert N . Harper in the presi
dency early in 1908. He was a son o f-W . F . Lynn, President
of the Loudoun National Bank of Leesburg, Va.
— One of the daintiest calendars for the new year issued
for gratuitous distribution which has thus far come to our
notice is that bearing the stamp of the Illinois Trust & Sav
ings Bank of Chicago. The special feature lending to its
attractiveness is the portrayal of a fascinating type of woman
hood, the subject, Naomi, being taken from the original
painting by Albert Lynch. There is also displayed a cut
of the bank’s building, in front of which is a bank book,
typifying the title, “ The Bank Behind the B ook,” which
the bank uses.
— At the annual meeting of the Mercantile Trust Co. of
St. Louis on the 13tli inst. Jacob Klein was elected a director
to take the place of E . G. Cowdery, who has removed to
Chicago. Mr. Klein, who is an ex-Judge, has been counsel
for the trust company for some years.
— J. T . Howell, Vice-President of the Fourth National
Bank of Nashville, has been elected President of the insti
tution to take the place of Samuel J. Keith, whose death
occurred in July. Prior to becoming Vice-President of the
bank early this year, Mr. Howell had been Cashier for a
great many years. He is known as one of the ablest bankers
in the South. The institution has a capital of $600,000,
•surplus and profits of $762,000 and deposits in excess of
$ 0 ,0 0 0 ,0 0 0 .
— In a reference to the Third National Bank of Atlanta,
Ga., two weeks ago, we inadvertently gave the capital as
$200,000, instead of $500,000. The institution also has a
surplus of $500,000, and its report of N ov. 16 shows net
profits of $168,702 against $123,928 on Sept. 1. The de
posits in the latest statement are $4,315,965, representing a
net gain of $1,405,000 within the year. Frank Hawkins is
President; Joseph A . McCord is Vice-President; Thomas C.
Erwin is Cashier, and It. W . Byers is Assistant Cashier,
jgg— The Sacramento Valley Trust Co. of Sacramento has
been organized with $1,000,000 capital and is scheduled to
begin business in January in the Clunic Building. A . L.
Darrow, First Vice-President of the Fort Sutter National
Bank of Sacramento, has taken an active part in the estab
lishment of the new institution, and is a member of its direc
torate. The officials chosen for the company are: President,
Albert Bonnelieim; First Vice-President, F. L. Holland, who
resigns as Vice-President of the Western National Bank of
San Francisco; Second Vice-President, George J. Bryte,
President of the Fort Sutter National Bank; Third Vice
President, A . Hochheimcr, and Cashier, L. P. Dodson.
— Thomas Prather, a former President of the failed Union
National Bank of Oakland, and Warren B. English, who, it
is reported, have been indicted on charges of misappro
priating funds of the bank, surrendered themselves to a
United States Marshal on Nov. 9, and were subsequently
released under bail of $5,000 each.
Mr. Prather retired
as President early in 1907, when his interest in the insti
tution was purchased by J. Dalzell Brown of the Cali
fornia Safe Deposit & Trust Co. of San Francisco (now de
funct) and associates of Mr. Brown. The Union National
suspended during the 1907 panic, but resumed business on
Jan. 2 1908 on a deferred-payment basis. On April 13 of
the present year, however, it again closed its doors.
— The continued growth of the United States National
Bank of Portland, Ore., is necessitating a further enlarge
ment of its already commodious banking quarters in that
city. The banking room is being enlarged to nearly double
its present size, while dining rooms, &c., are being added
for the benefit of its staff. When the improvements are all
completed,the institution will have for its use one of the
most up to date bank buildings on the Pacific Coast. J. C.
Ainsworth (who is also President of the Fidelity Trust Co.,
Tacoma, W ash.) is President and It. W . Schmcer is Cashier.
— An announcement from the Portland Trust Co.
Portland, Oregon, states that the directors, in the desire
to extend the commercial business of the institution, have
elected N . U . Carpenter, formerly of Baker City, an active
Vice-President.
W . E . Grace has been elected a director
of the company.
— According to the recent statement issued by the Na
tional Bank of Commerce, Seattle, Washington, under date
of Nov. 1C) last, deposits have increased practically a million
dollars during the past 2 ]/2 months. In exact figures, de
posits are now reported at $13,006,195, as against $ 1 2,17 6,
902 on Sept. 1 last. Aggregate resources have advanced
from $14,894,020 to $15,780,515. As noted in these col
umns some time ago, the bank will shortly remove to its
handsome new quarters on Second Avc. M. F. Backus is
at the head of this progressive institution, while II. It. Spencer
and Ralph S. Stacy are Vice-Presidents and J. A . Swalwell
is Cashier.
pVonctaryl <&am m ctxiatgugUsTx^jm ri
[ F r o n t o u r o w n c o r r e s p o n d e n t. ]
L o n d o n , S a t u r d a y , D e c . 11 1909.
The directors of the Bank of England on Thursday low
ered their rate of discount from 5 % to i y 2 % . They could
have done so a week earlier, perhaps even a fortnight earlier,
■but they decided not to do so until they saw how the coun
try would take the rejection of the Budget by the House of
Lords. Very many feared that as the dissolution would put
nn end to the resolution of the House of Commons under
which the new taxes were collected, a large number of the
taxpayers would refuse to pay.
If that had happened, no
body could foresee what might result, and the directors of
•the Bank of England, therefore, judged it prudent not to
put down their rate. All the great trades in the country,
1575
THE CHRONICLE
Dec . 18 19011
however, have now decided to go on paying the new taxes.
All the banks and other persons who pay over dividends, in
terest and the like to clients have decided likewise to charge
income tax at the new rate, and, as far as can be judged, the
public in general agrees that that is the proper course to take.
Consequently, there is a universal hope, now, that no serious
financial disturbance will occur. That being so, the direc
tors of the Bank of England felt themselves free to put down
their rate of discount to 4 H % Short loans have been in very strong demand throughout
the week because the first settlement of the month, which
began on Tuesday morning and ended only last evening,
showed that there was a fairly large account open for the
rise, and therefore money continued in good demand.
The
next settlement will not end until Wednesday, the 29th of
December. In the interval there will be two bank holidays,
Saturday the 25th and Monday the 27th. Consequently,
it is reasonable to anticipate that money will continue in
very strong demand, not only because the usual preparations
for the end of the year will have to be made, but also because
the outflow of coin and notes to the interior will be on a very
great scale, owing to the usual end-of-the-year movements
and to preparations for the general election. The impression
is gaining ground that the gold demands are nearly at an
end. This week £600,000 of the metal has been withdrawn
from the Bank of England— £1 00 ,0 00 for Brazil and half a
million sterling for Argentina. The best opinion is that the
Brazilian demand is now nearly satisfied, but nobody ven
tures even to guess what the Argentina demand will be. It
is also believed that the Egyptian demand is at an end, or
at all events whatever Egypt may require between now and
the New Year will be obtained in Paris. But it is difficult
to foresee what the Indian demand will be. India is taking
a good deal of gold from Egypt. Whether she will draw upon
London directly before the year ends nobody can yet say.
There had been since the middle of last week up to Thurs
day morning a very marked rise in all kinds of securities,
but most particularly in British railway stocks, which had
been grealy depressed previously. On Thursday shortly after
the reduction of the Bank rate there was a desire exhibited
to realize profits, and quotations gave way. The best opin
ion, however, is that the decline will prove to be very tem
porary; that, in fact, all British securities of every kind are
too low; and that for some weeks yet there will be a further
recovery. When the actual elections begin it is probable
that there may be a halt, as nobody can foresee what will
be the final result. But for two or three weeks yet the best
opinion in the City is that there will be a further recover}'
in prices.
The Board of Trade returns for the month of November
show that the value of the exports of British and Irish pro
duce and manufactures increased for the month by £ 4 ,1 7 4 ,
040, or 1 4 .4 % . For the eleven months there has been a
decrease of £3 ,2 2 8 ,4 5 6 , or 0 .9 % . The value of the imports
for the month show an increase of £1 1 ,7 0 0 ,7 4 5 , or 2 3 .5 % .
For the eleven months the increase has been as much as
£ 2 7 ,62 9,9 99, or 5 .2 % .
The India Council offered for tender on Wednesday 70
lacs of its bills, and the applications amounted to 591 lacs,
at prices ranging from Is. 4 3-32d. to Is. 4 j^ d . per rupee.
Applicants for bills at Is. 4 3-32d. and for telegraphic trans
fers at Is. 4 j^ d . per rupee were allotted about 1 1 % of the
amounts applied for.
English Financial Markets— Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
Lon don .
S a t.
W e e k e n d in g D e c . 17.
S ilv e r , p e r o z ________ ______ d 23 1 5 -1 6
8 2 7 -1 6
C o n s o ls . N e w . 254 P e r c e n t s
..
F o r a c c o u n t . _____
825 4
F r e n c h P o n te s ( In P a r i s ) . f r . 9 9 .2 2 1 4
A m a lg a m a te d C o p p e r C o ___
8 9 >4
10
ftA n a c o n d a M in in g C o _____
A tc h is o n T o p e k a & S a n ta l 'e . 12554
P r e fe r r e d . . .......................... 107
1 2 054
B a l t i m o r e & O h i o ................ . .
94
P r e fe r r e d . . ..................... . .
C a n a d ia n P a c if ic ____________ 1 85 54
C h e s a p e a k e & O h i o ________
8954
C h ic a g o M l l w . .A S t. P a u l . 161
51
D e n v e r i t H i o G r a n d e ...........
P r e fe r r e d __ _____________
8854
35
E r i e .................................................
51 U
F i r s t P r e f e r r e d .....................
S e c o n d P r e f e r r e d .............
425 4
I l l i n o i s C e n t r a l ............. ............. 1 5 054
L o u i s v il l e <t N a s h v i l l e ........... 1 56
505 4
M is s o u r i K a n s a s i t T e x a s .
76
P r e fe r r e d . . _ . _________
60 y .
N a t. U K . o f M e x . 1st P re f
S e c o n d P r e f e r r e d ________
24 54
N . Y . C e n tra l i t H u d s o n R iv .c l2 8
N . Y . O n t a r i o i t W e s te r n .
505 4
N o r f o lk i t W e s t e r n . ______ .1 0 1
P r e fe r r e d
____________
915 4
N o r t h e r n P a c i f i c ____________ .1 4 7 54
( ( P e n n s y l v a n i a _____________
685 h
( [R e a d in g _ ________________
8754
47
( ( F ir s t P r e f e r r e d _________
51
((S e c o n d P r e fe r r e d ..............
........................
R o c k Is la n d ..
425 4
13344
1 SS oo uu tt hh ee rr nn PKaacl lifwica........................
v ______ 3254
73
P r e fe r r e d . . _____________
U n io n P a c i f i c ............................. .2 0 7 5 4
P r e fe r r e d
. _____________ .1 0 5
U . S . S te e l C o r p o r a t i o n ____
9 2 54
P r e fe r r e d . . .......................... .1 2 8 5 4
22
W abash . .
________________
59
P r e fe r r e d ... ...................
E x te n d e d 4 s . . . .....................
7854
a P r ic e
per share,
b £
sterling,
T ire s .
M on.
24 3 -1 6 24 5 -1 6
8254
8254
82 9 -1 6 8 2 9 -1 6
9 9 .3 0
9 9 .3 7 5 4
90
9 05 4
1054
1054
1 2554
125 54
107
107
12054
1 2154
94
94
18554
185 54
8 95 4
895 4
161
1 61 54
51
5 15 4
89
88 K
35H
3554
5 15 4
515 4
43
425 4
1 50 54
1 52
1 5 6 >4
157
51
515 4
7654
76
6054
605 4
25
2554
1 29
129
5 0 54
5054
103
103 54
91 U
91 54
14754
1 4954
69
69
88
87? 4
47
47
51
51
44
4 6 54
1 33 54
1 34 54
33
3254
74
7 3 54
20854
20854
10554
1 0554
94
9 4 54
1 2854
1 28 *4
22
215 4
59
59
78
78
c
Ex-rlghts
d
IV c d .
2454
8254
8 2 9 -1 6
9 9 .3 5
895 4
1054
1 25
107
12054
94
1 8454
895 4
161
5154
8854
35
5 15 4
4 25 4
1 51 54
157
5 15 4
76
6 0 54
2454
1 28 54
505 4
1 02 54
9 15 4
1 49 =4
69
8 65 4
47
51
45
134 54
3 35 4
7654
2 0 7 54
1 05
93
1 2854
2 15 4
585 4
78
Ex-Interest
T h vrs.
F r l.
24 3 -1 6
8 2 5 -1 6
825 4
9 8 .4 7 5 4
90
1054
125 54
107
120 *4
94
185 54
8954
1 62
5154
8854
24 3 -1 6
8 2 5 -1 6
8254
9 8 .7 5
8954
1054
1 25 5 4
10/ ^
120 54
94
1 85 54
8854
163
5154
8854
35
5254
42 5 4
152
15954
51
7654
60
2 4 ’4
128 5 4
50 ? i
1 03
9 15 4
1 4 8 *4
69 5 4
8654
47
5154
44J4
1 3 7 54
33
7654
20954
107
9.354
128 54
2154
5954
7854
3554
5254
425 4
1 51 54
158 54
5 15 4
76
60
2454
1 2854
60 H
103
9 15 4
1 4 9 )4
095 4
87 54
47
5 15 4
45
1 36
3 35 4
7654
20854
105 54
94
128 54
215 4
595 4
7854
THE CHRONICLE
1576
C om m ercial and £5&tscc11an c au s IXexu.6
Name o f Company.
[V O L . L X X X I X
Per
Cent.
When
Payable.
Railroads (Steam) Concluded.
Cin. New Orl. & Tcxds Pacific, common..
D ec.
243
Colorado & Southern, com m on__________
D ec.
2
D ec.
Connecting Ry. (Philadelphia)___________
2
Delaware _____________ _________________
Jan.
4
D
ec.
Delaware & Hudson Co. (q u a r .)..............
243
A P P L IC A T IO N T O C O N V E R T I N T O N A T I O N A L B A N K S
D ec.
Delaware Lack. & Western (extra)............
10
4
APPROVED.
Delaware River RR. <1- Bridge......................
Denver & ltlo Grande, preferred________
243 J a n .
T h e P e o p le ’s B a n k o f F a ir m o n t, W . V a ., in to " T h e P e o p le ’s N a tio n a l
Detroit & Mackinac, preferred__________
Jan.
B a n k o f F a ir m o n t .”
C a p ita l, § 1 5 0 ,0 0 0 .
Georgia
RR. & Banking (quar.)_________
2 43 J a n .
T h e C itizen s’ B a n k o f H o ltv ille , C a l., in to “ T h e F irst N a tio n a l B a n k o f
Greene Railroad, guaranteed___________
3
D ec.
H o lt v ille .”
C a p ita l, $ 2 5 ,0 0 0 . C o rre s p o n d e n t, L e r o y H o lt, Im p e r ia l, Cal.
H ocking Valley, com mon and preferred..
2
Jan.
T h e P e o p le ’s B a n k o f F lo re n ce , S . C ., Into “ T h e F irst N a tio n a l B a n k o f
Interborough Rapid Transit (q u a r.)____
243 T a n .
F lo r e n c e .”
C a p ita l, $10 0 ,0 0 0 .
Kansas City Southern, pref. (quar.)______
Jan.
1
T h e C om m ercia l S ta te B a n k o f I th a c a , M ich ., Into “ T h e C o m m e rcia l
Lehigh Valley, common__________________
3
Jan.
N a tion a l B a n k o f I t h a c a .”
C a p ita l, $ 3 0 ,0 0 0 .
P referred __________________ ___________
5
Jan.
N A T IO N A L B A N K S O R G A N IZ E D .
Louisville A Nashville....... ............ ..............
Feb.
3 43
Maine Central (q u a r.)______ _____ ______
2
Jan.
D ecem ber 1 to D ecem ber 7.
Manhattan (quar.) (N o. 103)___________
143 J a n .
9.5 9 5 —
T h e F irst N ation a l B a n k o f F o w le r, K an sas. C a p ita l, $ 2 5 ,0 0 0Minneapolis
.
& St. Louis, preferred...........
243 J a n .
J oh n F . C on ra d , P re sid e n t; J o s . C. H a ll, V ic e -P r e s id e n t; D . B .
Morris & Essex, guaranteed_____________
3 43 J a n .
M itch ell, C ashier.
N. Y . Central & Hud. River (qu ar.)____
143 J a n .
9 .5 9 6 —
T h e F irst N a tion a l B a n k o f S ta r b u c k , M in n. C a p ita l, $ 2 5 ,0 0 0New
.
York & Harlem ______ ______________
5
Jan.
H . T h o rs o n , P residen t; G . I. E n g e b re tso n , V ice -P re sid e n t; G eo. W .
N. Y . Lackawanna & W est., guar. (q u .).
143 J a n .
H u g h e s , C ashier; O. L . F o d n e s, A ssista n t C ashier. C on version
N . Y . N . If. A- Hartford (quar.)...............
2
D ec.
o f T h e F a rm ers’ S ta te B a n k o f S ta rb u ck .
Northern Central (N o. 9 0 )..........................
4
Jan.
9 .5 9 7 —
T h e F irst N ation a l B a n k o f B la c k w o o d , N . J .
C a pital, $25 ,0 0 0Northern
.
R It. of New Hampshire (quar.)
143 J a n .
F ra n k B a te m a n , P re sid e n t. J. F ran k B re w e r, V ic e -P r e s id e n t.
Old Colony (quar.)...................... ...................
143 J a n .
E . F ran k P in e, Cashier.
Philadelphia Baltimore & W ashington..
2
D ec.
9 .5 9 8 —
T h e A m erica n N ation a l B ank o f H u n tin g to n , W . V a .
C a p ita l,
Reading Company, common........................ 3
Feb.
$ 1 0 0 ,0 0 0 .
H . C. H a rv e y , P resid en t; R . L . H u tch in s o n an d C. H .
Rensselaer & Saratoga, guaranteed.........
4
Jan.
W y a t t , V ice-P resid e n ts; M. J . F e rg u so n , C ashier.
St. Louis & San Francisco —
9 .5 9 9 — T h e F irst N ation a l B ank o f L o r d s b u rg , C al. C a p ita l, $ 25 ,000 .
Cldc. & E. 111. com . stock trust ctfs__
5
Jan.
H en ry L . K u n s, P resident; Lew is L . L o s tu tte r , V ice -P re s id e n t;
Chic. & E. 111. pref. stk. tr. ctfs. (qu.)
143 J a n .
W . D . F red erick , Cashier.
K.C.FtS.& M em . pref .stk.tr. ctfs. (q u .).
1
Jan.
9 .6 0 0 —
T h e F irst N a tio n a l B a n k o f Jessu p , P a .
C a p ita l, $ 5 0 ,0 0 0 . P . FSt.
. Louis Southwestern, preferred______
243 J a n .
C u sick, P resid en t; M. J . B a rre tt, P e te r B a s a ly g a a n d F o r tu n a to
Southern Pacific, com . (quar.) (No. 13).
li6
T is ca r, V ice-P resid e n ts; C has. M . C a rr, Cashier.
Southwestern o f Georgia________ _________
2 43 J a n .
9 .6 0 1 — T h e F irst N a tion a l B a n k o f M in o n k , 111. C a p ita l, $ 2 5 ,0 0 0 . T o m
Union Pacific, common (qu ar.)..................
243 J a n .
L illy , P resid en t; R a y R a rld o n , V ice -P r e s id e n t; J . F . S h e p a rd ,
Valley R R . of New York, guaranteed..
243 J a n .
Cashier.
5
Jan.
Vermont Valley.................... .........................
9 .6 0 2 — T h e K e n tu c k y N ation a l B a n k o f C a tle tts b u rg , Ivy. C a p ital, $ 7 5 ,
White Pass & Y u kon____________________
Jan.
i&
000 .
G . W . G unnell, P resid en t; C h arles R u sse ll, V ice -P r e s id e n t;
Street & Electric Railways.
E rnest M eek, C ashier.
Jan.
Athens (Ga.) E lectricity., com and p r e f. .
3
9 .6 0 3 —
T h e C itizen s’ N ation a l B a n k o f J u le sb u rg , C ol. C a pital, $25 ,000Bangor
;
Ry. J; Electric (quar.)......................
143 J a n .
B . F . C la y to n , P residen t; P . P e te rso n , V ice -P re s id e n t; E . F . C la y
Jan.
Boston <t- Worcester Electric Cos., pref------ 81
t o n , C ashier; J . C. W a g n e r , A ssistant C ashier.
Brooklyn Rapid Transit (qu ar.)------------Jan.
1
9 .6 0 4 —
T h e H o m e N ation a l B a n k o f S u tto n , W . V a . C a p ita l, $ 6 0 ,0 0 0Capital
.
Traction, Wash., D .C . (q u a r .)...
143 J a n .
A m os B rig h t, P residen t: G . B . F ish er, V ice -P r e s id e n t; A . L . M or
Cedar Rapids-Iowa City R y. & Light .pref
D ec.
3
rison , A ssistan t Cashier.
Chattanooga Ry. & Light, pref. (quar.) —
143 J a n .
Chicago City Ry. ( q u a r .) ....... .............. —
D ec.
143
Cincinnati Street Ry. (quar.)......................
143 J a n .
Jan.
STO CK OF M O N E Y IN T H E C O U N T R Y .— The follow Columbus (Ga.) Elcc. Co., pref. (No. 7 ) . . 3
Columbus (O .) R y . & Light (quar.).........
ing table shows the general stock of money in the country, as Continental Passenger R y. (P hlla .)____ S343 J a n .
Jan.
well as the holdings by the Treasury, and the amount in Duluth-Superior Traction, com m on_____ i
(q u a r .)......... ......................................
i
Jan.
circulation, on the dates given. T h e s ta te m e n t f o r D e c e m b e r 1 ElPref.
Paso Electric Co., pref. (N o. 15).........
3
Jan.
1908 w i ll be fou n d , i n o u r i s s u e o f D e c e m b e r 26 1908, p a g e 1642. Halifax Elec. Tramway, Ltd.(qu.)(N o.52)
143 J a n .
2
Hcstonvillc Mantua cfc Pair mount, c o m ...
Jan.
— Slock o f M oney Dec. 1 '0 9 -------------M oney in Circulation----3
Jan.
P referred ......................................................
In United
Held in
D ec. 1
Dec. 1
1
D ec.
Honolulu Rap. Tran. & Land, com (q u .).
Stales.
Treasury, d
1909.
1908.
D ec.
3
P referred ......................................................
s
s
$
s
Indianapolis Street R y .................................
3
Jan.
G o ld c o in a n d b u l l i o n ____ * 1 ,0 1 4 ,9 0 6 ,2 2 3 1 5 6 ,6 0 5 ,0 3 8
6 0 3 ,9 6 1 ,3 1 6
G 1 6 ,9 9 8 ,0 6 1
London (Canada) Street R y ........... - ..........
3
Jan.
G o ld c e r t i f i c a t e s . a —
....................................... ..
9 3 ,9 6 2 ,6 0 0
7 9 0 ,3 7 7 ,2 6 9
8 1 3 ,6 4 4 ,3 3 9
Louisville Traction, com. (quar ) ...............
1
Jan.
S t a n d a r d s l i v e r d o l l a r s ____
5 6 4 ,2 9 -1 ,7 1 9
2 ,6 5 8 ,3 1 2
7 4 ,5 9 8 ,4 0 7
7 5 ,2 1 3 ,6 9 3
M anila Elcc. RR. & Ltg. Corp., com. (qu.)
1
D ec.
S i lv e r e e r t i l l c a t e s . a ........... ..
...
5 ,9 2 8 ,4 0 7
4 8 1 ,1 0 9 ,5 9 3
4 8 0 ,7 4 2 ,5 0 0
Massachusetts Electric Cos., preferred-143 J a n .
S u b s id ia r y s i l v e r ...................... 1 6 1 ,3 0 4 ,6 3 3
1 5 ,9 6 3 ,5 8 9
1 1 5 ,3 4 1 ,0 4 4
1 3 3 ,2 6 0 ,3 4 0
Northwestern Elevated, preferred (quar.). .
T r e a s u r y n o te s o f 1 8 9 0 ____
3 ,9 8 2 ,0 0 0
4 ,5 3 0
3 ,9 7 7 ,4 7 0
4 ,6 3 8 ,8 5 7
Philadelphia Company, com. (quar.)_____
Feb.
143
U n i t e d S ta t e s n o t e s . .............. 3 4 6 ,6 8 1 ,0 1 6
4 ,4 5 9 ,2 6 7
3 4 2 ,2 2 1 ,7 4 9
3 4 3 ,6 3 7 ,1 8 3
Portland (Ore.) R y .,L .& P ., pfd. (quar.)
143 J a n .
N a t io n a l b a n k n o t e s .............. 7 0 7 ,4 3 3 ,4 5 7
1 7 ,7 0 9 ,3 7 1
6 8 9 ,7 2 4 ,0 8 6
6 4 9 ,4 2 6 .0 6 0
Puget Sound Elcc. R y., pref. (N o. 8 ) -----3
Ia n .
Reading Traction........................................... 7 5 c . J a n .
T o t a l ___________ _________ 3 ,4 2 8 ,6 0 2 ,0 4 8 2 9 7 ,2 9 1 ,1 1 4 3 ,1 3 1 ,3 1 0 ,9 3 4 3 ,1 1 7 ,5 6 1 ,0 3 3
St. Joseph R y ., L ., II. & P.. pfd. ( q u .) ..
143 J a n .
P o p u la t i o n o f t h e U n i t e d S ta te s D e c . I 1 9 0 9 e s tim a t e d a t 8 9 ,5 2 4 ,0 0 0 ; c i r c u l a t i o n
Sao Paulo Tram. L .& P ., Ltd., (quar.) —
243 J a n .
p e r c a p it a , $ 3 4 9 8 .
Seattle Electric Co., com mon (N o. 5 ) -----143 J a n .
* A r e v is e d e s t im a t e b y t h e D i r e c t o r o f t h e M i n t o f t h e s t o c k o f g o ld c o in w a s
Stark Electric R R . (qu ar.)...........................
43 J a n .
a d o p t e d In t h e s t a t e m e n t f o r A u g . 1 1 9 0 7 .
T h e r e w a s a r e d u c t io n o f 8 1 3 5 ,0 0 0 ,0 0 0 .
Toronto R y. (q u a r.).................... .................
143 J a n .
a F o r r e d e m p t io n o f o u t s t a n d in g e e r tillc a t e s a n e x a c t e q u i v a l e n t In a m o u n t o f th e
Tri-City Ry. A- Light, pref. (quar.)......... .
143
a p p r o p r ia t e k in d s o f m o n e y Is h e ld in t h e T r e a s u r y , a n d Is n o t In c lu d e d In t h e a c c o u n t
Twin City Ray. Tran., Mlnneap., pf. (qu.)
143 J a n .
o f m o n e y h e ld a s a s s e ts o f t h e G o v e r n m e n t .
Union Passenger R y., Philadelphia........... 8 1 .7 5
d T h i s s t a t e m e n t o f m o n e y h e ld In th e T r e a s u r y a s a s s e ts o f t h e G o v e r n m e n t d o e s
Union R y ., Gas & Electric, pref. (q u a r.).
143 J a n .
n o t In c lu d e d e p o s it s o f p u b lic m o n e y In n a t io n a l b a n k d e p o s ita r ie s t o t h e c r e d it o f
Union Traction of Philadelphia_________
3
Jan.
t h e T r e a s u r e r o f t h e U n i t e d S ta te s , a m o u n t in g t o S 3 5 .9 5 2 .7 8 7 3 0 .
United Traction & Elec., Providence (qu.)
143 J a n .
Washington Alexandria & Mt. V e rn o n ..
Jan.
1
W ashington Water Pow ., Spokane (q u .).
143 J a n .
Auction Sales.— Among other securities the following, not West End St.. Boston, pref. (qu ar.)------ S2
Jan.
Jan.
regularly dealt in at the Board, were recently sold at auction. Winnipeg Electric R y. (qu ar.)..................
West Philadelphia Passenger R y ................ 8 5 ’
By Messrs. Adrian H . Muller & Son:
Banks.
America, Bank o f................................ ..........
Jan.
13
Stocks.
Stocks.
Century (quar.)...................... .........................
17 N e w Y o r k L h e in s u r a n c e &
5 N o r t h e r n B a n k o f N . Y .......... 1 00
143 J a n .
Chatham National (quar.) (No. 156).........
4
Jan.
Trust C o . . ........... ........ 1110-1110VS
1 C l i n t o n H a l l A s s o c ia t io n ______ 56
Coal & Iron National (qu ar.)____________
3 2 U n i t e d N . J . I t U . & c a n a l C o . 2 51
6 F i n d l a y H y d r a u l i c P re s s B r i c k
143 J a n .
Jan.
6
Columbia (No. 4 3 ).........................................
1 G la s t o n b u r y K n i t t i n g C o _____5 3 0
C o . o f M is s o u r i_______________12
First National (quar.)...................................
1 S c o t t B r o t h e r s ................................... 88
1 0 0 N . Y . & Q u e e n s E le c . L i g h t
E x t r a .................................. .........................
8
1 7 ,2 8 7 2 9 1 -5 0 0 C o n s o l. A r l z . S m e lt
& P o w e r C o ., c o m m o n _____ G543
Jan.
First Security Co. (quar.)............................
3
in g C o ., S 5 e a c h ------------- 82 p e r s h a re
2 0 D e l. L a c k . <fc W e s t. C o a l C o . 2 0 1 H
Jan.
J effe r s o n ..............................................-•..........
1 0 0 G a r f ie ld N a t io n a l B a n k ______ 2 9 6
1 0 0 A m e r ic a n S u e r t y C o ...............- . 2 2 1
Jan.
Liberty National (quar.).................................
2 0 0 H u d s o n N a v i g a t io n C o _______ 2 5
8 0 J . J u n g m a n n I n c . , p r o f . . __
i%
Jan.
E x tr a ............................................................. 10
1 N a t . B a n k o f C o m m e r c e _____2 17
15 C a rn e g ie T r u s t C o 1 5 9 4 3 -1 0 0 )4
Mercantile National (q u a r.)......... ..............
7 H a n o v e r N a t io n a l B a n k _____6 6 3
Itonds.
143 J a n .
Jan.
2
Metropolitan (quar.)............................ ..........
13 S i x t h A v e n u e H U . C o _______ 123
8 1 0 0 0 0 C o n s o l. A r l z . S m e lt in g C o .
Mount Morris (qu ar.)...................................
243 J a n .
18 I m p . & T r a d e r s ’ N a t . B a n k . 5 o 7 4 6
In c o m e s & 8 1 6 9 17 S c r i p ________ 4 0
Jan.
-1
M u tu a l.......... ............ ................................—
1 0 M e c h a n ic s ’ N a t io n a l B a n k . . 3 1 1 * 8 1 0 .0 0 0 G t . W e s te r n P o w e r C o . 1 s t
D ec.
Nineteenth Ward (monthly) (N o. 4 2 ) -----143
10 C h e m ic a l N a lo a a l B a n k ____ 4 5 0
5 s , 1 9 4 6 , J . & J ...................- - 9 5 ) 3 & I n t .
Jan.
5
Slate .................................................................
1 , 0 ) 0 F o u r t h N a ’ t o n a l B a n k ............. 201
8 1 0 .0 0 0 S o u t h S h o re T r a c t i o n C o .
6
Jan.
West Side.............................. ...........................
1 0 0 C i t y I n v e s t i n g C o . , c o m m o n . 63 44
1 s t 5 s, 1 9 6 7 ............................................
9643
Trust Companies.
Columbia (qu ar.)...........................................
2
D ec.
Equitable
(qu
ar.)............................................
5
D ec.
D IV ID E N D S .
3
F id e lity .............................................................
D ec.
E x tr a ........... .................................................
1
D ec.
The following shows all the dividends announced for the
Fifth Avenue (q u a r.)...................................
3
D ec.
future by large or important corporations:
Franklin, Brooklyn.........................................
4
D ec.
Fulton (N o. 3 5 )...............................................
5
Jan.
D i v i d e n d s a n n o u n c e d th is w e e k a re p r i n t e d i n i t a li c s .
Guaranty (qu ar.)............................................
5
D ec.
Hudson ............................................................
Jan.
3
\ Per
When
Jan.
Lawyers’ Title Ins.&Trust (qu.) (N o. 45)
Books Closed.
3
I Cent. Payable.
Jan.
Name o f Company.
Long Island I.oaiA Trust, Brooklyn (quar.)
3
Days Inclusive.
D ec.
5
Mercantile (q u a r .).........................................
5
D ec.
R a ilr o a d s ( S t e a m ) .
E x t r a ....... ........................... .........................
D ec.
Albany & Susquehanna, guaranteed___
3 D e c . 16
to
Jan.
2
6
Metropolitan (quar.) (N o. 5 2 )....................
4 43 J a n .
Allegheny * Western, guaranteed.........
D ec.
Jan.
5
3
Morton (quar.)................................................
3 H o ld e r s o f re c . l)e c .2 0 c l
Ateh. Topeka & Santa Fe, preferred____
Feb.
D ec.
1 H o ld e r s o f re c . D e c .3 0 a
Mutual of Westchester County (q u a r .)..
243
143
Atlantic Coast Line IUt., com m on______
Jan.
3
10 D e c . 18
to
J a n . 10
Extra ..........................................................
1
D ec.
Beech Creek, guaranteed (qu ar.)________
D ec.
Jan.
New York (quar.)...........................................
1
8
3 H o ld e r s o f re c . D r c 2 3a
Boston & Albany (qu ar.)_______________
D ec.
31 H o ld e r s o f re c . N o v . 3 0 a
2%
Miscellaneous.
Boston & Lowell............. ........................... I 4
jJ a n ,
3 N o v . 28
to
D ec.
5
Aeolian, W eber Plano&Planola, pf. (qu.)
143 D e e .
Boston & Maine, com mon (quar.). ______ '
3 H o ld e r s o f re c . D e c . l a
American Beet Sugar, pref.(qu.) (N o.42)
143 J a n .
143 J a n .
Boston Revere Beach & L y n n ...!..............
Jan.
3
1 H o ld e r s o f re c . D e c . 15a
American Can, pref. (q u a r.)........................
143 J a n .
Chesapeake & Ohio (qu ar.)..................... . !
1
D ec.
31 H o ld e r s o f re c . D e c .1 1 a
Am. Car * F dy., c o m .(quar.) (No. 2 9 ) ..
43 J a n .
Chicago & Alton, preferred........................
2
Jan.
15 H o ld e r s o f re c . D e c .3 0 a
Preferred (quar.) (No. 43) ....................
143 J a n .
2
Prior lien and participating s to ck .........
American Caramel, pref. (quar.).................
2
Jan.
1 5 ' H o ld e r s o f re c . D e c .3 0 a
Jan.
Chicago B irllngton * Quincy (q u a r.)__
1 D ec. 28
to
Jan.
3
2
Jan.
American Chicle, common (m on th ly)____
1
D ec.
Chicago * Eastern 111., preferred (qu ar.).
American Cigar, preferred..........................
3 H o ld e r s o f re c . D e c .1 8 a
3
Jan.
143 J a n .
Chicago Indianapolis & Louisville, c o m ..
D ec.
3 0 H o ld e r s o f re c . D e c . 15
Jan.
American Express (q u a r.)..........................
3
143
Preferred ....... .............................................
1 Vv
2
Amer. Iron it- Steel M fg., com. it pref.iqu.)
D ec.
3 0 H o ld e r s o f re c . D e c . 15
Chicago & North Western, com m on_____
American Locomotive, pref. (quar.)...........
3 H o ld e r s o f re c . D e c . 11
143 J a n .
3 43 J a n .
Preferred (q u a r .)......................... ............
2
Jan.
American Piano, pref. (quar.)....................
3 H o ld e r s o f re c . D e c . 11
1 33 J a n .
Chic
Island ,&• P>cin» P v . O u a r .).
Jan.
1
Jan.
3 H o ld e r s o f r e c . D e c , 17
2
Amer. Pipe it Construction (qu ar.).........
B a n k s. — T h e
f o llo w in g
n a t io n a l b a n k s is f r o m t h e o f f ic e o f
C u rre n c y , T re a s u ry D e p a rtm e n t:
in f o r m a t io n
r e g a r d in g
th e C o m p t r o lle r o f th e
_
N ational
21
31
36
3
20
22
22
15
3
15
20
17
3
15
8
8
10
1
3
15
3
15
3
3
31
15
1
)
31
1
3
3
3
3
15
3
5
3
3
1
15
Hooks Closed.
Days Inclusive.
H o ld e r s o f re c . D e c .
D e c . 19
to
Jan.
17
2’
H o ld e r s o f re c . D e c . 7 a
H o ld e r s o f re c . N o v . 2 9
H o ld e r s o f re c . D e c . 1 0
D ec. 25
D e c. 16
Jan.
1
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
J a n . 21
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
D e c . 11
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
D e c . 16
of
of
of
of
of
of
of
of
of
of
of
of
of
of
of
of
of
of
D e c . 18
D e c . 18
H o ld e r s o f
H o ld e r s o f
to
to
to
re c
re c .
re c .
re c .
re c .
re c .
to
re c .
re c .
re c .
re c .
to
re c .
re c .
re c .
re c .
re c .
re c .
re c .
re c .
to
Jan.
4
Jan.
4
J a n . 14
D e c . 14a
D e c. 28
D e c . 24
D e c. 31
D e c . 24
D e c . 24
Feb
10
D e c .1 5 a
D e c .1 5 a
D e c . 31
D e c. 9a
D e c . 26
D e c . 15
D e c .1 5 a
D e c . 15
D e c . 31
D e c. 6a
D e c . 11
D ec.
8
J a n . 15
Jan.
2
to
to
re c .
re c .
Jan.
3
Jan.
3
D e c . 1 7a
D e c .3 1 a
D e c . 16
to
Jan.
5
H o ld e r s o f re c . D e c . l a
H o ld e r s o f re c . D e c .2 2 a
Jan.
1
to
Jan.
15
i
to
Jan.
2
2 Jan.
1 H o ld e r s o f re c . D e c . 15
1 H o ld e r s o f re c . D e c .2 1 a
1 H o ld e r s o f re c . D e c . 10
to
J a n . 12
1 D e c . 12
____________________
31
1 H o ld e r s o f re c . D e c . 2 1
_________________________
30
to
Jan.
1
1 D e c . 17
2 H o ld e r s o f re c . D e c . 24
1 H o ld e r s o f r e c . D e c . 15
30
3 H o ld e r s o f re c . D e c . 1 5
to
Jan.
2
3 D ec. 26
10 H o ld e r s o f re c . D e c . 3 0
3 D e c . 21
to
Jan.
3
1 D e c . 19
to
D e c . 31
1 D e c . 19
to
D e c . 31
31 D e c . 2 8
to
Jan.
1
to
Jan.
1
31 D e c . 2 8
to
Jan.
2
1 D e c . 24
to
Jan.
2
3 D e c . 19
to
Jan.
1
1 D e c . 11
31 H o ld e r s o f r e c . D e c . 2 0 3
to
D e c . 15
1 D ec.
18
1 H o ld e r s o f re c . D e c . 17
3 H o ld e r s o f r e c . D e c . 12
1 H o ld e r s o f re c . D e c . 2 2
to
Jan.
2
1 D e c . 15
1 H o ld e r s o f re c . D e c . 15
1 H o ld e r s o f re c . D e c . 21
15 H o ld e r s o f r e c . J a n .
1
1 D ee. 27
to
Jan.
1
l r f H o ld e r s o f re c . D e c . l5 d
3
2 H o ld e r s o f re c . D e c . 16
1
3 H o ld e r s o f re c . D e c .1 1 a
1 H o ld e r s o f re c . D e c .1 0 a
to
Jan.
2
1 D e c . 15
to
Jan,
3
3 D e c . 21
to
Jan.
2
3 D e c . 16
1 D e c . 24
to
Jan.
2
1
3
3
3
1
3
D e c . 18
to
Dec 25
to
D ec. 24
to
H o ld e r s o f re c .
D ec. 28
to
Jan.
Jan.
Jan.
D ec.
Jan.
3
2
3
8
2
3
2
3
3
3
3
3
3
31
3
3
............................. ...............
H o ld e r s o f re e . D e e . 16
H o ld e r s o f re c . D e c .3 1 a
H o ld e r s o f re c . D e c . 3 l a
D ec. 25
to
Jan.
3
D e c . 19
to
Jan.
2
D e c . 21
to
.................
D e c . 24
to
Jan.
3
H o ld e r s o f r e c . D e c . 27
D e c . 11
to
Jan.
2
D e c . 17
to
Jan.
3
31
31
31
31
31
31
3
31
3
3
3
31
31
31
31
31
31
31
H o ld e r s
D ec. 29
D ee. 25
D ec. 25
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
D ec. 22
D e c . 16
H o ld e r s
D ec. 25
D ec. 25
D e c . 18
D ec. 25
D e c . 16
D e c . 16
D ec. 25
31
3
1
1
1
1
20
3
3
|
21
1
1
D ec. 25
H o ld e r s
H o ld e r s
H o ld e r s
H o ld e r s
D e c . 12
D e c . 16
H o ld e r s
H o ld e r s
o f re c .
to
to
to
o f re c .
o f re c .
o f re c .
o f re c .
to
to
o f re e .
to
to
to
to
to
to
to
D e c .2 7 a
Jan.
2
Jan.
2
Jan.
2
D ec. 30
D ee. 30
D ee. 20
D e c .3 la
Jan.
2
Jan.
3
D e c . 18
Jan.
2
Jan.
2
Jan.
2
Jan.
2
D e c . 31
D e c . 31
Jan.
2
to
re c .
re c .
re c .
re c .
to
to
o f re c .
o f re c .
Jan.
2
D e c . 21
D e c .1 6 a
D e c .1 0 a
D e c . 10a
Jan.
1
D e c. 20
D e c . 15a
N o v . 30-
of
of
of
of
Jan
5
to
J a n . 23
D e c . 19
to
Jan.
2
H o ld e r s o f re c . D e c . 15
THE CHRONICLE
De c . 18 1909,
Per
Cent.
Name o f Company.
Allsccllaneous—Concluded.
American Radiator, com m on (au ar.)____
Amer. Seeding Machine, pref. (q u a r .)...
Amertcan Shipbuilding, pref. (quar.)-----Am. Smelt. & R fg., com . (quar.) (N o .25)
Preferred (quar.) (N o. 4 2 )......................
American Snuff, com . (qu ar.)....................
Preferred (q u a r.).......................................
Amer. Sugar Hefln., com . & pref. (quar.)
American Surety (quar.) (N o. 82)..............
Extra ...........................................................
American Telephone & Telegraph (quar.)
American T obacco, pref. (q u a r.)................
Am er. Type Founders, com. (quar.)......... Preferred (quar.)----------------------- - - -----Am er. Woolen, pref. (quar.) (N o. 4 3 )-----Bell Telephone o f Missouri (quar.)----------Butte Elec. & Power, com . (qu.) (N o. 21)
Calumet & Hecla Mining (qu ar.)..............
Canadian General Elec., Ltd., com. (quar.)
Canton Com pany...........................................
Celluloid Company (qu ar.)------- -----------Extra ........... - ...............- ...........................
Central Coal & Coke, com. (quar.)..............
Preferred (quar.)...................... ...................
Central Leather, preferred (q u a r.)...........
Chic. Junct. U ys. & U .Stk.Y d s ..corn.(qu)
Preferred (q u a r.)........................ ..............
Chicago Telephone ( q u a r , ) . .. ..................
Cincinnati Gas & Electric (quar.)________
City Investing, preferred ( q u a r .) .............
Columbus (O.) Gas & Fuel, pref. (q u a r .)..
Columbus (O.) Light, Heal <i- Pow., co m ..
Preferred (quar.)......... ................................
Corp. o f United Cigar Stores (quar.)...........
Extra ........................................................ ..
Crucible Steel, preferred (quar.) (N o .25)
Cumberland Tel. rf- Tel. (quar.) (N o. 105).
Detroit Edison (quar.)......... ............ .......... ..
Dominion Coal, Ltd., com. (quar.)........... ..
Duluth Edison Elec., pref. (quar.) (,Vo. 15)
duP ont(E .I.)deN em oursPow d.,pref.(qu.)
Eastman K odak, com . (au ar.)________
Preferred (qu ar.).....................................
Electrical Securities Corp., com . (quar.).
Empire Steel A Iron, pref. (N o. 2 2 )...........
General Chemical, preferred (qu ar.).........
General Electric (qu ar.)...............................
Goldfield Consolidated Mines (qu ar.)-----Extra ______ ______ - ---------- ---------------Gorham Manufacturing, pref. (quar.)-----Granby Cons.M in.,S.& l’ .,Ltd. (N o. 1 1 ) ..
Great Lakes Towing, pref. (q u a r.)--------Guggenheim Exploration (quar.) (N o.28)
Ingersoll-Uand, preferred....... .......... ..........
International Silver, preferred (q u a r .)..
Preferred (extra )______ _________ _____
Internal. Smokeless Powd.&Ch.,com. (qu.)
International Tim e Recording, com m on .
La Belle Iron W orks (qu ar.)......................
Lanston M onotype Machine (qu ar.).........
Mackay Companies, com . (quar.) fN o. 18)
Preferred (quar.) (N o. 2 4 )......................
Massachusetts Lighting Cos. (quar.)...........
E x tr a .............................................................
Mergcnthaler Linotype (quar ) ....................
E x t r a ........................................................ ..
Michigan Light, com mon (qu ar.)..............
Preferred (q u a r.)------------------ -------------Michigan State Teleph., pref ( q u a r .)...
National Biscuit, com . (quar.) (N o. 4 5 ).
Nat. Enamel. & Stpg.. pref. (qu ar.)____
National Lead, com . (quar.) (N o. 2 4 ) . . .
National Licorice, pref. (quar.) (N o. 3 0 ). .
National Sugar Refg., pref. (quar.)______
National Surety (q u a r.)..............................
Nevada Consol. Copper (quar.) (N o. 1 ) ..
Ntles-Bement-Pond. com m on (qu ar.)____
North American Company (qu ar.)______
Nova Scotia Steel & Coal, Ltd., com...........
Common..... ...................................................
Preferred (quar.)............. ...........................
Old Dominion SS. (N o. 6 8 )-------------------Ondcrdonk Estate, common....... .....................
P referred ......................................................
Oils Elevator, pref. (quar.).................... ..
Phelps, Dodge & Co., Inc. (q u a r.)--------Extra ...........................................................
Quaker Oats, com m on ( q u a r .) ................
Common ( e x t r a ) ........................................
Quincy Mining (q u a r.)...................... ..........
Railway Steel Spring, pref. (q u a r.)...........
Realty Associates (N o. 14)...........................
Extra ........... ...............................................
Republic Iron & Steel, pf. (qu.) (N o. 3 1 ).
Royal Baking Powder, com . (q u a r.)-----Preferred (q u a r.)......... .............................
Safety Car Heating & Lighting (q u a r .)..
Extra ...........................................................
Sears, Roebuck & Co., pref. (q u a r.)-----Securities Com pany..................- ...................
Shawlntgan Water <fe Power (quar.)......... ..
Sloss-Sheffteld Steel & Iron, pref. (quar.).
South Porto R ico Sugar, com . (N o. 1 ) . . .
Preferred (q u a r.)....... ................................
Standard Coupler, common....... ............ ..
P referred. ....................................................
Standard Gas Light, New York, p r e f.........
Streets’ Western Stable-Car Line, p r e f..
Swift & Company (qu ar.).............................
Tennessee Copper..................................... ......
Torrington Company, p r e f ...........................
Underwood Typewriter, common (N o. 1 ).
First and second preferred......................
Union Bag & Paper, pref.(quar.) (N o. 43)
United Bank N ote Corp., pref. (q u a r .)..
United Cigar Stores, pref. (quar.)................
United Fruit (quar.) (N o. 4 2 )......................
UnltcdJGas Im provement (qu ar.)_______
United Shoe Machinery, com mon (quar.)
Preferred (q u a r.).......................................
U. S. Finishing, com. (quar.) (N o. 4 ) -----Preferred (quar.) (N o. 42)...................... United States Glass.................._ .....................
U. S. Slecl C orp., com . (quar.) (N o. 24).
Utah Copper (quar.) (N o. 6 )....................
Van Dyck Estate, com. and p r e f..................
Ver Planck Estate, common..........................
Common (extra)............................................
P referred ................- ....................................
Va.-Caro. Chem., pref. (qu.) (N o. 5 7 ) -----Waltham Watch, common........... ................
Western Union Telegraph (qu.) (N o. 163)
Westinghouse A ir Brake (quar.)..................
Extra .............................................................
Special ....................................... .................
Westinghouse Elec.& M fg., pref. (qu.) —
Wilkes-Barre Gas & Electric (q u a r.)-----Yukon Gold Co. (quar.) (N o. 2 ) ------------a Transfer books not closed.
When
Payable.
I X Dec.
I K Jan.
1H Jan.
Jan.
Jan.
Jan.
Jan.
I K Jan.
2JS Dec.
2K Dec.
Jan.
2
US Jan.
1
Jan.
US Jan.
US Jan.
2
Ian.
IV* Jan.
S8
Dec.
I K Jan.
US Jan.
50c. Jan.
US Dec.
2
Dec.
US Jan.
I K Jan.
I K Jan.
2
Jan.
US Jan.
2
Dec.
1 3-16 Jan.
I K Jan.
I K Jan.
US Jan.
US Jan.
$1.50 Jan.
Jan.
I K Dec.
2
Jan.
1
Jan.
1
Jan.
US Jan.
I K Jan.
2K Jan .
\K Jan.
2
Jan.
3
Jan.
US Jan.
2
Jan.
30c. Jan.
20c. Jan.
IV*
2
Dec.
I K Jan.
$2.50 Jan.
3
Jan.
I K Jan.
K Jan.
1
Jan.
1
Jan.
2
Dec.
I K Dec.
I K Jan.
1 Jan.
US Jan.
I K Jan.
2K Dec.
5
Dec.
1
Jan.
US Jan.
US Feb.
US Jan.
I K Dec.
I K Jan.
I K Dec.
US Jan.
2
Jan
37JSc. Dec.
US [Dec.
I K Jan.
1
Jan.
20 stk. Dec.
2
Jan.
3
Jan.
5
Jan.
•US Jan.
US Jan.
2 K Dec.
2
Dec.
US Jan.
K Jan.
Dec.
$1
I K Dec.
3
Jan.
1
Jan.
I K Jan.
2K Dec.
US Dec.
2
Dec.
1
Deo.
I K Jan.
2K Jan.
1 Jan.
I K Jan.
l
Jan.
Jan.
2
1
Dec.
4
Dec.
3
Dec.
3K Jan.
I K Jan.
$1.25 Dec.
3.VS Jan.
2
Jan.
3
Jan.
1
Jan.
I K Jan.
I K Jan.
2
Jan.
2
Jan.
2
Jan.
US Jan.
1
Jan.
I K Jan.
1
Dec.
l
Dec.
50c. Dec.
3
Jan.
3 VS Dec.
4
Dec.
3 VS Dec.
2
Jan.
1VS Jan.
K Jan.
2VS Jan.
1VS Jan.
1
Jan.
I K Jan.
I K Jan.
10c. Dec.
1
1K
5
US
6 Less Income tax.
Books Closed.
Days Inclusive.
to
..............
31 Dec. 23
15
to
Jan. 16
15 Ian. 4
to
Jan. 2
15 Dec. 25
3 Dec. 11
to
D ec. 16
3 Holders of rec. D ec. 15
3 Holders of rec. D ec. 15
3 Holders of rec. D ec. la
to
Jan. 11
31 Dec. 17
Jan. 11
31 Dec. 17 to
15 Holders of rec. D ec. 31
3 Holders of rec. D ec. 11
15 Holders of rec. Jan. 10
15 Holders of rec. Jan. 10
to
Jan. 5
15 Dec. 25
________
2
3 Holders of rec. Dec.15a
22 Holders of rec. N ov. 26
D ec. 31
1 Dec 16 to
to
Jan. 2
1 Dec. 21
to
Jan. 2
1 Dec. 21
31 Holders of rec. D ec. 14
31 Holders of rec. D ec. 14
Jan. 15
15 Jan. 1 to
Jan. 15
15 Jan. 1 to
3 Holders of rec. D ec. 10
3 Holders of rec. D ec. 11
3 Holders of rec. D ec. 11
to
Jan. 2
31 Dec. 29
1
1 Holders of rcc. D ec. 27
1 Holders of rec. D ec. 15
1 Holders of rcc. D ec. 15
1 Holders of rec. D ec. 15
Jan. 15
15 Jan. 4 to
Jan. 4
to
Jan. 15
23 Holders of rec. D ec. 13
1 Holders of rec. D ec. 18
15 Holders of rcc. Jan. 3a
Dec. 21
3 Dec. 16 to
1 Holders of rec. Dec.21a
25 Holders of rec. Jan. 15
1 Holders of rec. N ov. 30
1 Holders of rec. N ov. 30
3 Holders o f rec. Dec .3 la
1 Dec. 21
to
Jan. 2
3 Holders of rec. Dec.18a
15 Holders o f rec. D ec. 4a
1 ________ ____ _____ ____
31
1
31 Holders o f rec. D ec. 15a
2 Holders o f rec. D ec. 15
to
Jan. 3
3 Dec. 18
1 Holders of rec. Dec.11a
Jan. 3
3 Dec. 18 to
Jan. 3
3 Dec. 18 to
1 Holders of rec. Dec.20a
1 Holders of rcc. N ov. 20
to
D ec. 31
31 Dec. 22
D ec. 30
30 Dec. 17 to
3 Holders of rec. Dec. 11a
3 Holders of rec. Dec.11a
15 Holders of rec. Jan. la
15 Holders of rec. Jan. la
Jan. 2
31 Dec. 19 to
to
Jan. 2
31 Dec. 19
3 Holders of rec. Dec.11a
3 Holders of rec. D e c.U a
to
Feb. 1
1 Jan. 19
15 Holders of rec. Dec.28a
to
Jan. 2
31 Dec. 12
to
D ec. 14
1 Dec. 11
to
Jan. 2
31 Dec. 25
to
Jan. 3
3 Dec. 16
to
Jan. 1
2 Dec. 22
to
Jan. 2
31 Dec. 2
to
Dec. 20
20 Dec. 12
3 Holders of rec. Dec.15a
1 to
Jan. 5
15 Jan.
20 Dec. 19 to
D ec. 22
Jan. 5
15 Jan. 1 to
3 Dec. 21
to
Jan. 2
1 Holders of rec. Dec. 20
1 Holders of rec. Dec. 20
15 Holders of rec. Dec. 31
31 Holders of rcc. Dec.22a
;:i Holders of rcc. Dce.22a
15 Holders of rec. Jan. 4a
15 Holders of rec. Jan. 4a
to
Dec. 25
20 Nov. 21
20 Dec. 8
to
D ec. 20
15 Holders of rec. Jan. 5
15 Holders of rec. Jan. 5
1 Holders of rec. D ec. 18
31 Holders of rec. Dec.15a
31 Holders o f rec. Dec.15a
23 Holders of rcc. D ec. 7a
23 Holders of rec. D ec. 7a
1 Holders of rec. Dec.15a
Jan. 16
15 Jan. 1 to
20 Holders of rcc. Jan. 7
3 Holders o f rcc. Dec.20a
to
Jan. 3
3 Dec. 23
to
Jan. 3
3 Dec. 23
to
Jan. 11
24 Dec. 19
24 Dec. 19
to
Jan. 11
to
Jan. 2
31 Dec. 21
to
Jan. 2
1 Dec. 22
to
Jan. 6
3 Dec. 19
23 Holders of rec. D ec. 10
to
D ec. 31
1 Dec. 21
1 Holders of rec. D ec. 20
1 Holders of rec. D ec. 20
15 Holders of rcc. Dec. 31
3 Dec. 16
to
Jan. 3
3 Holders of rec. D ec. 15
15 Holders of rec. D ec. 24
15 Holders of rec. Dec. 31
5 Holders of rec. D ec. 14
5 Holders of rec. D ec. 14
i Dec. 21
to
D ec. 31
i Dec. 21
to
D ec. 31
23 Dec. 20
to
D ec. 23
30 Dec. 11
to
D ec. 30
31 Dec. 18
to
Jan. 2
I Holders of rec. Jan. 1
18 Holders of rec. Dec.18a
18 Holders of rec. Dec.18a
18 Holders of rcc. Dec.18a
15 Jan.
1 to
Jan. 16
1 Holders of rec. Dec. 11
15 Holders of rec. Dec.20a
10 Jan.
1 to
Jan. 10
10 Jan.
1 to
Jan. 10
10 Jan.
1 to
Jan. 10
15 Jan. 6
to
Jan. 16
1 Holders of rcc. Dec. 17
31 D ec. 11
to
Jan. 2
d Correction.
1577
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. 11.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
We omit two ciphers (00) in all cases.
Banks.
00s omitted.
Capital.
Surplus.
$
S
Bank of N. Y . .
2,000;0
3,465,5
Manhattan C o.
2,050,0
4,126,6
Merchants’ ____
2.000,0
1,693,7
Mechanics’ ____
3,000,0
3,851,2
A m e r ic a ---------1,500,0
5,894,9
P h e n lx _______
1,000,0
685,5
C i t y ................... 25,000.0 28,853,0
Chemical______
3,000,0
6.183,0
Merchants’ E x .
600,0
• 568,2
Gallatin..............
1,000,0
2,443,1
Butch. & D rov.
300,0
153,4
G re e n w ich ____
500,0
777,4
Amer. E x c h .. .
5,000,0
5.095,1
Commerce......... 25,000,0 15,694,3
M erca ntile____
3,000,0
2,570,8
500,0
P a cific ...............
897,6
C hatham ..........
1,026,2
450,0
Peoples’ ...........
200,0
477,5
H an over______
3,000,0 11,101,1
1,486,6
Citizen’s C e n t..
2,550,0
N a ssa u _______
500,0
464,8
1,668,0
Market & Fult’n
1,000,0
1,392,9
Metropolitan . .
2,000,0
5,254,1
3,000,0
Corn Exchange.
7,504,0
1,500,0
Im p. & Traders’
3,000,0
9,912,5
P a r k ..................
105,2
250,0
East R iver____
3,543,1
F o u r t h ..............
3,000,0
1,899,3
S e c o n d ..............
1,000,0
F i r s t .................. 10,000,0 19,808,6
Irving E x ch __
1,516,3
2,000,0
B o w e r y .............
250,0
802,0
1,642,4
500,0
N. Y . C ou n ty-.
German-Amer .
750,0
667,5
7,040,4
5,000,0
Chase....... ..........
2,069,9
100,0
Fifth A v en u e.German E x c h ..
200,0
894,0
G erm ania.........
1,006,5
200,0
1,408,9
L in co ln ..............
1,000,0
1.147,1
G arfield.............
1,000,0
F if t h ..................
483,5
250,0
2,020,2
M e tro p o lis____
1,000,0
1,139,0
West Side.........
200,0
1,821,6
Seaboard-.........
1,000,0
2,704,4
1,000,0
L ib e r ty _______
1,000,0
N. Y . Prod. E x.
705,4
1,000,0
803,0
State ..................
1,000,0
334,5
14th Street____
C o p p e r ..............
2,000,0
2,834,3
1,000,0
326,3
Coal & Iron ____
Loans.
Average.
Legals. Deposits. ReSpecie.
Average. Average. Average. s’ve.
$
18,779,0
29,700,0
17,671,0
26,321,0
22,344,6
8,339,0
167,523,5
26,855,6
6,406,2
8,241,1
2,206,4
7,263,6
28,475,9
139,955.9
13,778,9
3,896.6
6,702,1
2,121,9
59,198,9
21,845,8
6,303,4
7,863,7
12,535,5
41,081,0
25,265,0
79,050,0
1,516,5
20,595,0
12,559,0
96,340,2
20,820,8
3,592,0
7,802,9
4,145,9
69,625,1
12,996,5
3,800,0
4,839,7
15,364,1
7,512,2
3,427,2
11,604,4
4,426,0
17,262,0
16,158,5
7,560,8
13,963,0
5,432,6
25,222,2
5,702,0
$
3,109,0
6,195,0
3,051,0
5,299,0
3,584,1
1,621,0
32,547,8
4,422,1
1,312,3
1,212,9
445,8
1,825,5
4,028,8
21,838,4
1,695,9
189,1
852,3
641,8
9,337.7
5,199,5
703,3
2,106,3
3,046,5
7,919,0
3,783,0
20,651,0
429,3
3,369,0
2,046,0
19,564,1
4,208,1
867,0
1,331,7
823,4
17,103,9
2,735,9
450,0
874,4
3,392,0
1,715,0
684,4
1,193,6
917,0
4,406,0
3,080,3
2,057,8
4,056,0
971,0
6,534,6
913,0
S
1,533,0
1,671,0
1,471,0
1,813,0
1,815,2
507,0
5,320,0
2,094,4
203,0
603,0
128,0
200,0
1,470,0
9,340,9
860,3
540,6
1.043,8
135,7
7,450,7
327,4
1,048,4
831,3
220,6
4,334,0
1,906,0
1,279,0
117,4
2,558,0
489,0
1,162,3
1,298,9
51,0
665,8
235,4
4,912,3
1,068,6
445,0
477,1
727,1
245,6
289,3
1,656,8
261,0
1,265,0
890,7
234,1
289,0
669,4
260,0
482,0
S
16,686,0 27.8
32,700,0 24.0
17,491,0 25.8
27,021,0 26.3
21,947,7 24.6
7,915,0 27.4
152,310,6 24.8
24,726,5 26.5
6,286,8 24.1
6,554,4 27.6
2,213,0 25.9
8,062,9 25.1
21,450,5 25.8
116,304,9 26.9
10,129,0 25.2
3,363,5 21.7
7,097,9 26.7
2,531,0 26.7
66,160,4 25.4
21,424,2 25.9
6,990,5 25.0
8,463,8 34.7
12,829,0 25.4
48,265,0 25.3
22,548,0 25.2
87,438,0 25.1
1,828,3 30.0
22,379,0 26.4
12,319,0 25.4
82,369.1 25.1
21,843,3 25.2
3,694,0 24.8
7,905,1 25.7
4,000.9 26.4
76,610,7 28.7
14,728,0 25.8
3,900,0 22.8
5,514,9 24.5
16,440,7 25.0
7,611,3 25.7
3,644,7 26.7
11,575,6 24.6
4,651,0 25.3
20,113,0 28.1
15,387,4 25.8
8,964,8 25.5
17,121,0 25.3
6,063,9 27.0
25,979,7 26.1
5,554,0 25.1
Totals, Average 127,350,0 180,024,4 1181,994,2 230,841,6 68,898,1 1159,110,0 25.8
Actual figures
1187,673,4 230,899,8 71,057,2 1167,995,3 25.8
Dec. 11
On the basis of averages, circulation amounted to $52,887,800 and United States
deposits (Included In deposits) to $1,678,400; actual figures December 11, circulation,
$52,830,300; United States deposits, $1,669,400.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
STATE BA N K S AND T R U S T COM PANIES.
W eek ended Dec. 11.
Capital as of Sept. 14____
Surplus as of Sept. 14____
Loans and Investm ents..
Change from last week.
Trust Cos.
State Banks
Trust Cos.
State Banks
outside o f
outside o f
in
in
Greater N . Y. Greater N . Y . Greater N . Y. Greater N . Y .
38,495,200
163,689.700
10.585,699
10,155,540
292,908,200 1,094,127,300
+ 1,520,900
+ 340,400
90,162,400
+ 573,400
135,126,400
+ 506,500
93.631,500
— 213,500
141,099,400
+ 220,200
18,412,600
— 316,600
17,763,800
+ 3 03,800
45,437,900
— 929,800
111,191.500
— 613,200
Legal-tenders & bk. notes
Change from last week.
24.246,000
—36,200
13,450,200
+ 308,200
Reserve on deposits.........
Change from last w eek.
$
7,725,000
S
61,675,000
Specie . . . .
Change from last w eek.
Deposits ________ _______
Change from last week.
$
8,708,000
$
26,075,000
331,915,400 1,108,304,100
+ 822.500 — 4,682.500
87,770,800
— 408,500
P. C. reserve to deposits.
Percentage last week-----+ Increase over last week.
27.0%
27.1%
129,907,600
— 450,600
15.4%
15.7%
20.3%
20.6%
13.2%
13.0%
— Decrease from last week.
N ote.— "Surplus” Includes- all undivided profits. “ Reserve on deposits” In
cludes, for both trust companies and State banks, not only cash Items, but amounts
due from reserve agents. Trust companies In New Y ork State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below. The percentage of reserve required Is com puted on
the aggregate of deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre
sented by certificates, and also exclusive of deposits secured b y bonds of the State
of New York. The State banks are likewise required to keep a reserve varying
according to location, but In this case the reserve Is com puted on the whole amount
o f deposits, exclusive of deposits secured by bonds of the State of New York.
Reserve Required fo r Trust Companies
and State Banks.
Location—
— Trust C os.—
— Slate Banks—
Total
Of
Total
Of
Reserve which
Reserve whicK
Required, in Cash.Required, in Cash.
25%
15%
15%
-15%
20%
-15%
10%
10%
-15%
15%
10%
7V4%
25%
15%
-15%
15%
.1 0 %
15%
5%
6%
THE CHRONICLE
1578
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York n o t i n th e C le a r in g
H ou se.
These figures are shown in the table below, a sare
also the results (both actual and average) for the Clearing
House banks. In addition, we have combined each corregponding itefcp in the two statements, thus affording an aggresatc for the %hole of the banks and trust companies in the
Greater New York.
N EW Y O R K C IT Y BA N K S AND T R U S T COM PANIES.
Clear.-House
Banks.
ActualFigurcs
Week ended Dec. 11
I
Clear.-House Stale Banks A
Total o f all
Banks.
Trust Cos. not Banks& Trust
in C.-H . Aver. Cos. Average.
Average.
Capital as of N ov. 1 6 ..
S
127,350,000
S
127,350.000
$
71,550,000
S
198,900,000
Surplus a 3 of Nov. 1 6 ..
180.024,400
180,024,400
172,199,700
352,224,100
Loans and investments 1,187.673,400 1,181,994.200
+ 5,715,900 — 10,798,900
Change from last week
1,139.460,800 2,371,455,000
+ 1,019.500
— 9.779,400
D e p o s its ____ _____— 1,167,995,300 1,159,110,000 « l , 128,704,600 2,287,814,600
— 9,519,800
+ 1,266,100
— 8,253,700
Change from last w eek. + 10,975,800
S p e c i e ..... .......................
Change from last week
230.S99.800
+ 1,115,200
230,841,600
+ 173,200
117,788,800
— 401.600
348,630,400
— 231,400
Change from last week
71,057,200
+ 1,881,000
68,898,100
— 305,600
522,259,400
-f 32o,800
91,157,500
+ 20,200
Aggr’ te money holdings
Change from last week
301,957,000
+ 2,996.200
299,739,700
— 132,400
cl40,048,200
— 78,800
439,787,900
— 211,200
Change from last week
................
................
21,483,700
+ 302,200
21,483,700
+ 302,200
Total reserve......... ......
Orange from last week
Percentage to deposits
requiring reserve____
301,057,000
+ 2,996,200
299,739,700
— 132,400
161,5 i 1,900
+ 223,400
461,271.600
+ 91,000
[VOL. LXXXIX
We omit two ciphers (00) in all these figures.
Capital
and
Surplus.
Banks.
Boston.
N ov. 2 0 ..
N ov .2 7 ..
D ec. 4 . .
D ec. 11 __
Pliiln.
N ov. 2 0 ..
N ov .2 7 ..
Dec
4 ..
D ec. 11_.
Loans.
Legals. Deposits, a Circu
lation.
Specie.
S
40,300,0
40,300,0
40,300,0
40,300,0
8
S
201,204,0 23,086,0
197,326,0 20.499,0
192,675,0 20,202,0
190,821,0 21,082.0
50,315,0
56,315,0
56,315,0
56,315,0
256,108,0
256,700,0
257,107,0
255,192,0
■S
4,110,0
4,340,0
4,704,0
4,544,0
S
$
218,895,0 7,024,0
239,726,0 7,029,0
236,842,0 7,017,0
231,943,0 7,093,0
8
1S6,722,0
144,870,7
182,368,5
165,705,4
16,826,0
16,811,0
16,818,0
16,786,0
148,397.3
129,776,4
175,906,1
157,574,9
305,598,0
304,383,0
302,959,0
300,407,0
70.928.0
70,256,0
67.727,0
68,153,0
Clearings.
a Including Government deposits and the Itmo "due to other banks” . At Boston
Government deposits am ounted to $3,002,000 on December 11, against $3,012,000
on December 4.
.
Imports and Exports for the W eek.— The following are
the imports at New York for the week ending Dec. 11; also
totals since the beginning of the first week in January:
F O R E IG N IM PO RTS A T N E W Y O R K .
For Week.
1909.
1908.
1907.
1906.
$3,664,346
18,894,244
$3,986,171
14,687,857
$2,803,048
6,705,219
$4,720,515
14.327,512
$9,508,267 $19,048,027
$22,558,590 $18,674,028
Since January 1.
Dry G oods__________________ $159,688,215 $120,258,661 $174,514,827 $154,596,515
General M erchandise;............ 674,200,740 488,998,103 622,788,838 578,152,390
Total 49 weeks.................... JS-33,888.955, $609,256,764 $797,303,665 $732,748,905
M oney on deposit with
Percentage last w e e k ..
25.87%
25.89%
16.9%
25.87%
25.69%
17.1%
9,952,200
9.958,175
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Dec. 11 and from Jan. 1 to date:
E X P O R T S FROM N EW Y O R K FO R T H E W E E K .
Previously reported................
+ increase over last week. — Decrease from last week.
a These are the deposits after eliminating the Item "D u o from reserve depositories
and other banks and trust companies in Nc.v York C ity;" witn tais item included,
deposits amounted to $1,222,580,600, a decrease of S i ,016,800 last week. In the
case o f the Clearing-House banks, the deposits are "n e t” both for the average and
the actual figures, b Includes bank notes, c Of this amount State banks held
$15,403,500 and trust companies $124,611,700.
'l£ie uverages of the New York Clearing-House banks
with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
1909.
1908.
1907.
1906.
$15,243,185
578,361,310
$15,795,530
588,550,698
$14,203,835
598,138,708
$13,127,219
567,126,865
Total 49 weeks....................
593.004,495 $604,346,237 *612,342,541 $580,254,084
The following table shows the exports and imports of
specie at the port of New York for the week ending Dec. 11
and since Jan. 1 1909, and for the corresponding periods in
1908 and 1907:
E X P O R T S A N D IM PO RTS OF SPECIE AT N EW Y O R K .
c o m b in e d
Exports.
Week.
Oct.
Oct.
Oct.
Nov.
Nov.
Dec.
Dee.
1 6 ..
2 3 ..
3 0 ..
6 ..
13. 2 0 -2 7 ..
4—
It . .
Loans and
Investments.
Deposits.
$
2,464,578,2
2.445.020,0
2,439,447,5
2,447,785,3
2.428,526,4
2,403,090,7
2,389,978,6
2,381,234,4
2,371,455,0
%
2,433,415,2
2,415,217,9
2.401,871.9
2.401,807.2
2,368,257,5
2,338,048,8
2,310,511,4
2,296,068,3
2,287,814,6
Tot. M oney Entire Res.
Holdings. on Deposits
Specie.
Legals.
$
3S0,588,6
384,151,8
378,354,1
370,910,2
363,346,7
359,133,4
354,661,9
348,861,8
348.630,4
S
93,689,4
93,694,9
93,572,2
91,315,1
91,080,3
89,784,9
89.617,2
91,137,3
91,157,5
S
474.278.0
477,846,7
471,926,3
462,225,3
454,427,0
448,918,3
444,279,1
439,999,1
439,787,9
S
497.581,3
499,840,3
494,500,4
485,366,9
475,809,2
471.633,4
465,572,1
461,180,6
461,271,6
Reports of Non-Member Banks.— The
following is the
statement of condition of the non-member banks for the
week ending Dec. 11, based on average daily results:
We omit two ciphers (00) in ail these figures.
Banks.
' Capi
tal.
Sur
plus.
N. Y. City.
Boroughs oj
Man.A- Brx.
$
$
247,4
Wash. Hgts
100,0
Century ..
200,0
151,8
400,0
Colonial . . .
311,0
300,(1
458,9
Columbia ..
200,C
159,3
Fidelity ..
586,9
500,0
Jefferson ..
287,6
Mt. Morris
250,0
328,5
Mutual . . . .
200,C
100,0
412,4
Plaza _____
200,0
103,9
23nl W ard.
959,3
Union Ex.N 1,000,0
446,C
100.C
Yorkville ..
200,0
243,5
NewNethl’d
150,3
200,0
Batt. Pk.Nat
315,9
Aetna N at.
300,0
Borough o f
Brooklyn.
Broadway .
200,0
541,1
Mfrs’ N at.
798.7
252,0
Mechanics’ . 1,000,0
934,7
Nassau Nat.
966,4
750,0
Nat. C ity .300,0
607,5
North Side.
200,0
144,0
Jersey City.
First N a t ..
400,0 1,237,1
250,0
Hud.Co.Nat
745.6
200,0
Third N a t ..
384,8
Hoboken.
220,0
First N a t ..
623,7
125,0
249,6
Second Nat.
Loans,
D isc’ts
and
Invest
ments.
Specie.
Legal
Tender
and
Bank
Notes.
Deposit with—
Clear
ing
Agent.
$
S
S
130,0
51,0
1,158,0
15,9
219,4
1,455,1
833,4
536,1
5,121,4
586,0
5,849,0
544,0
86,2
69,5
997,4
17,0
3,526,2
570, S
29,0
433,2
2,346.7
595,5
32,6
3,834,5
336,C 417,0
3,912,9
55,2
1,797,0
167,8
8,407,6 1,132,3 1.000,c
4,025,9
05,4
752,4
73,0
2,169,0
220,(1
237,2
27,5
1,161,3
33,7
1,904,5
421,3
S
127,0
73,3
621,2
572,0
123,8
275,0
298,5
417,3
695,0
254,4
115,0
253,1
135,0
86,7
164,7
Other
Net
Banks. Deposits.
Ac.
5
____
137,5
201,2
____
____
292,9
85,6
5,2
____
____
____
252,?
10,0
____
31,2
S
1,127,0
1,697,0
6,781,9
6,975,0
1,020,8
3,653,8
3,010,3
4,416,2
4,939,0
2,034,1
8,398,2
5,172,9
2,211,0
1,125,3
1,750,0
3,388,7
5,856,7
11,222,0
6,372,0
3,881,0
1,881,2
32,5
363,0
214,7
576,2
302,0 1,335,0
315,0
508,0
586,0
117,0
94,5
133,9
193,8
865,7
1,368,6
895,0
763,0
132,5
103,5 3,698,1
110,0 6,510,0
258,1 14,278,2
__
6,237,0
157,0 5,070,0
112,7 2,112,8
4,763,9
2,705,7
2,050,7
299,1
146,2
50,9
420,3
38,8
118,9
3,230,1
227,2
385,4
245,0
225,3
15,9
7,325,6
2,541,8
2,282,3
2,426,8
2,526,2
136,0
87,3
22,9
102,3
100,6
50,2
74,3
175,6
1,991,4
2,657,0
Tot. Dec. 11 8,147,0 12,395,9 94,740,5 7,109,4 8,585,6 14,424,1 2,493,3 109066,7
Tot. Dec. 4 8,147,0 12,395.9 04,845,0 6,963,5 8,576,0 11,083,2 2,531,6 107820,1
Tot. Nov. 27 8,147,0 12,420,0 94,741,6 6,766,1 8,283,0 11,820,5 2,448,8 107480,4
Boston and Philadelphia Banks.— Below
is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
Since Jan A
Since Jan A
Week.
$13,958,120
13,881,732
$72
206,557
2,885.495
5,000
58,367,450
4,030,820
2,943
98
53,863
76,653
$212,729
2,769,932
11,006
735,323
556,753
2,370,155
2,054,084
Total 1909.......................................... $1,978,000 $93,128,617
830 49,997,055
Total 1908____________ __________
2,800 36,779,772
Total 1907..........................................
Silver.
Great Britain.......................................
$465,380 $37,567,505
France _______ _____________________
51,900
3,897,825
G erm a n y ________ _____ ___________
11,590
17,427
135,151
$340,186
279,213
9,470,075
$8,716,582
16,501,340
89,394,585
$1,086
88
COM BIN ED RE SU LTS O F BA N K S AN D T R U S T CO M PANIES IN
G R E A T E R N EW Y O R K .
We omit two ciphers (00) in all these figures.
W vk
Bn tor.
Imports.
dole!.
$28,000
1,950,000
All other countries_________________
South Am erica.....................................
59,226
34,437
406
1,476
4,432
70,088
$234,514
$9,376
77,239
129.832
2,389,209
995,769
1,192.370
Total 1909.....................................
Total 1908......... ..............................
Total 1907..........................................
$538,432 *41,705,734
681,954 40,545,550
309,755 47,603,149
$77,576
456,519
238,673
$5,028,315
4,295,795
3,706,464
" 3 ,725
Of the above imports for the week in 1909, $293
were American gold coin and $396 American silver coin.
Of the exports during the same time, $1,978,000 were Ameri
can gold coin and $16,000 were American silver cain.
fknililng and fin a n c ia l.
IN V ESTM EN T SEC U R ITIES
O ur e ig h t-p a g e circu lar N o . 687 d e scrib e s several Issues o t s o u n d
In ve stm e n t b o n d s y ie ld in g a b o u t
to S H % .
Spencer T r a s k & C o .
W I L L I A M A N D P IN E S T S ..
NOW Y O R K
B ran ch o ffic e s : C h ic a g o . I L L ., B o s t o n , M a s s . . A lb a n y . N. Y .
M
o
f
f
a
t
&
w
h
i
t
e
BANKERS
gS
M e m b e rs N ew Y ork S to c k E x ch a n g e
5 NASSAU ST R E E T .
THE ROOKERY
N EW YORK
C H IC A G O
rT
i
B A N K IN G and E X C H A N G E ot every description In connection with
EXPORTS &
IMPORTS
International Banking Corporation
60 W a ll S t.. N ew
Y o rk .
C A P I T A L & S U R P L U S . $ 6 ,5 0 0 ,0 0 0
B R A N C H E S and A G E N C IE S throughout the W O R L D .
T H E IN T E R N A T IO N A L
BANK
O rga n ized under the L a w s o f N. Y. S tate.
60 W a ll S t., N ow
Accounts Invited.
Interest paid on Term Deposits.
T H O M A S II H U B B A R D , P r e s id e n t .
Y ork
THE CHRONICLE
D e c . 18 1909 ]
%
v l u 1m x s
*
G fe je tte *
W a l l S t r e e t , F r i d a y N i g h t , D e c . 17 1909.
The Money Market and Financial Situation.— So little has
transpired affecting security values this week that fluctua
tions have covered a relatively narrow range. The advance
which followed the President’s Message was substantial and
has very generally been retained, as lias also.the favorable
impression produced by the Message.
The announcement of increased dividend rates on Reading
and Louisville & Nashville shares had little influence, either
upon those particular issues or the market as a whole, show
ing that the matter had been anticipated. It has been fol
lowed, as usual, by discussion as to the probability of similar
action in other cases, and to this discussion may be attributed
perhaps a conspicuous advance in Southern Pacific stock.
The Bank of England’s weekly statement shows some
changes following its reduced discount rate, including a
shrinkage of both its reserve and percentage of reserve to
liabilities. The latter is, however, still much above the
average in recent years, and Germany has been permitted
to take practically all the gold offered in the London market.
The local money market remains about as heretofore re
ported and perhaps not much change is to be expected until
the year-end settlements begin to be effective.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collatera's have ranged
from 3 to 5 % .
To-day’s rates on call were 3 @ 5 % .
Commercial paper cpioted at 5 @ 5 \ i % for GO to 90-day en
dorsements, 5 @ 5 ^ % for prime 4 to G months’ single names
and 5 j ^ @ 6 % for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £1,399,G35 and the percentage
of reserve to liabilities was 54.34, against 5G.71 last week.
The rate of discount remains unchanged at 4 ^ % , as fixed
Dec. 9. The Bank of France shows a decrease of 8,250,000
francs gold and 1,200,000 francs silver.
N E W Y O R K C IT Y CI.KAHING-IIOUSE RA N K S.
1909.
Averages fo r
week ending
D ec. 11.
Differences
from
previous week.
1908.
Averages fo r
week ending
Dec. 12.
1907.
Averages fo r
week ending
Dec. 14.
*
$
s
$
127,350,000
C apital.............................
126,350,000
129,100,000
Surplus....... .......... ..........
180,024,400
165,322,700
163,396,900
Loans ami discounts___ 1,181,994,200 Dec. 10,798,900 1,339,547,400 1,175,027,900
Circulation......................
52,887,800 Dec.
1,700
46,489,000
86.997.900
Net deposits — ......... .. 1,159,110,000 Dec. 9,519,800 1,408,597,900 1,01)6,805.900
1,678,400 Dec.
U. S. dep. (lncl. above)
9,200,700
15,400
76.704.900
230,841,600 Inc.
173,200 289,966,800
Specie ............................
177.165.300
68,898,100 Dec.
Legal tenders..................
79,082,300
305,600
49,450,000
Reserve h e l d ...
25% ot deposits.
299,739,700 Dec.
289,777,500 Dec
132,400
2,379,950
9,962,200 Inc.
2,247,550
16,899,625 dcf40,101,175
10,381,800 Inc.
2,243,700
19,199,800 dcf20,924,950
Surplus reserve
Surplus excl. U . S. dep.
369,049,100
352,149.475
226.615.300
266,716,475
N ote.— The Clearing House now Issues a statement weekly showing the total
ot the actual figures on Saturday morning. These figures, together with the returns
o f separate banks, also the summary issued by the State Ranking Department
showing the condition o f State banks and trust companies not reporting to the
Clearing House, appear on the second page preceding.
Foreign Exchange.— Discounts abroad advanced during
the week and close near the top. Foreign exchange rates
here have reached the highest level recorded this season;
they are now within about % c . per pound sterling of the
point at which gold exports to Europe would become feasible.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 8 4 % for 60-day and 4 8 8 y 2 for sight. To-day’s actual
rates for sterling exchange were 4 8440 @ 4 8450 for GO days,
4 8 7 9 0 @ 4 88 for cheques and 4 8 8 0 0 @ 4 88G5 for cables.
Commercial on banks 4 8410 @ 4 8420 and documents for
payment 4 8 3 % @ 4 84 )^ . Cotton for payment 4 83
4 8 3 % and grain for payment 4 8 4 % @ 4 8 4 % .
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 1 8 % less 1 -1 6 @ 5 18 % for long and 5 1 6 % less 3 -3 2 @
5 1 6 % less 1-16 for short. Germany bankers’ marks were
94 1 1 -1 G @ 94 % for long and 9 5 % @ 9 5 7-16 less 1-32 for short.
Amsterdam bankers’ guilders were 4 0 .1 8 @ 4 0 .2 0 for short.
Exchange at Paris on London, 25f. 2 2 % c .; week’s range,
25f. 2 2 % c . high and 25f. 21c. low.
Exchange at Berlin on London, 20in. 4 6 % fp .; week’s
range, 20m . 47pf. high and 20m. 4 5 % p f. low.
The range of foreign exchange for the week follows:
f
Sterling, Actual—
High for the week........................ 4
Low for the week.......................... 4
Paris Hankers' Francs—
High for the week........................ 5
Low for the w e e k ........................ 5
Oermany Hankers' M arks—
High for the w eek........................
Low for the week......... ............ ..
Amsterdam Hankers’ Guilders—
High for the week........................
Low for the week..........................
six ty Days.
84%
81 %
Cheques.
4 88%
4 8770
Cables.
4 88%
4 8820
18%
19%
5 10% less 1-32
5 10%
5 15% less 1-16
5 10% less 1-16
94 18-10
94 11-10
95 7-10
95% leas 1-32
95% plus 1-32
95 7-10
40 1-10
40
40 3-10 plus 1-10 4 0 % plus 1-16
40 3-10 less 1-10 40%
The following are the rates for domestic exchange at the
under-mentioned cities at the close of the week: Chicago,
10c. per 81,000 premium. Boston, par for cash. San Fran
cisco, 30c. per 81,000 premium. New Orleans, commercial,
50c. per $1,000 discount; bank, $1 per $1,000 premium.
Savannah, buying, 3 -1 6 % discount; selling, par. Charles
ton, buying, par; selling, 1-10 premium. St. Louis, par.
St. Paul, 65c. per $1,000 premium. Montreal, par.
State and Railroad Bonds.— Sales of State bonds at the
Board are limited to $31,000 Virginia 6s deferred trust re
ceipts at 55 to 56.
1579
There has been a falling off in the volume of business in
bonds as compared with last week, and changes in the q u o
tations for active issues have been unimportant.
The most conspicuous movement of the week was an ad
vance of nearly 10 points during the morning Board to-day
in Atlantic Coast Line L. & N . coll. 4s. The cause is wholly
unexplained except that the collateral securing the bonds
has been placed upon a higher-dividend basis.
United States Bonds.— Sales of Government bonds at the
Board include $10,000 2s reg., 1930, at 101% ; $2,000 4s
coup., 1925, at 116, and $500 3s coup., 1908-18, at 1 0 1 % .
The following are the daily closing quotations; /or y e a r l y
2s,
2s,
3s,
3s,
3s,
4s,
4s,
2s,
2s,
1930 ..................registered
1 9 3 0 ...................... coupon
1908-18 ......... .. registered
1908-18 ------------- coupon
1908-18------small coupon
1925 ..................registered
1925--------- •_.
..co u p o n
1936.Panama Canal regis
1938.Panama Canal regis
—
— .... ,------
Interest
Periods
Dec.
11
D ec.
13
Dec.
14
Dec.
15
Q— Jan
Q — Jan
Q — Feb
Q— Feb
Q— Feb
Q— Feb
Q— Feb
Q— Feb
Q — N ov
*100%
*100%
*101%
♦101%
*100%
*100%
*101%
*101%
♦100%
*100%
*101%
*101%
*100%
*100%
*101%
*101%
*114%
*115%
*100
*100
*114%
♦115%
*100
*100
*114% *114% *114% *114%
*115% 116
*115% ♦115%
*100
*100
*100
+ 100
*100
*100
*100
*100
***'-
Dec.
16
Dec.
17
♦100% 101%
*100% *100%
*101% *101%
*101% *101%
uu sute was niuue.
_ Railroad and Miscellaneous Stocks.— The daily transac
tions in stocks at the Exchange have steadily diminished
throughout the week, and, as noted above, prices have
generally remained steady. The upward tendency which
characterized the market last week did not entirely lose
force until this week had been entered upon. There has been
practically no reaction, however, and few changes in
quotations are worthy of note.
Among the exceptional features of the railway list are
Western Maryland receipts, which moved up rapidly nearly
10 points, North W est., which is about 5, and Southern
Pacific, which is 4, points higher than last week. Louisville
& Nashville has been strong on a higher dividend rate and
closes 5 points up. Reading declined under a similar in
fluence. Erie and Missouri Kansas & Texas have been
inclined to weakness and Brooklyn Rapid Transit is lower.
New York Air Brake, the strong feature of the industrial
list, has advanced over 2 points and American Smelting &
Refining nearly 1 % . Steel common is also over a point
higher, while the preferred'is fractionally lower.
F o r d a i l y v o lu m e o f b u s i n e s s s e e p a g e 1587.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending D ec. 17.
Sales
fo r
Week
Range fo r Week.
Lencest.
Highest.
Am cr Teleg * Cable____
43 77% Dec
Assoc Merchants, 1st pf_
15 113
Dec
Ruff Rochester & Pittsb.
100 100
Dec
Canadian Pacific rights. 11,600 9.43% Dec
Cent * So Amer T e le g ..
100 115
Dec
Chic & Nor West rights. 13.9S4 15% Dec
E I du Pont Powd, pref.
35 87% Dec
400 91
General Chemical...........
Dec
250 104% Dec
P referred......................
100 84% Dec
Green Ray & W est " A ” .
25 92% Dec
II R Clad In, 1st pref____
Ilom estakc Mining.........
300 79% Dec
Kanawha * Mich trrets.
100 54
Dec
Keokuk & Des M oin es..
820 9
Dec
400 43
P referred .................... ..
Dec
Laclede Gas, pref______
100 93
Dec
N Y Cent * 1 1 R righ ts.. 12,627 5 % Dec
N Y N II & Hart rights.3 41,444
5
Dec
Nor Ohio Trac * L ight. .
600 36% Dec
Pennsylvania rights____ 126,730 8 % Dec
Peoria & Eastern...........
100 24% Dec
St Jos & Gr Isl 1st p r e f ..
100 55% Dec
South Porto R ico Sugar.
400 82
Dec
P referred......................
100 114
Dec
136 109
United Cigar Mfrs, pref.
Dec
W est Md war’ nts,4th pd. 11,000 48
Dec
80
Dec
113
Dec
100
Dec
9% Dec
115
Dec
16% Dec
87% Dec
91
Dec
104% Dec
84% Dec
92% Dec
82
Dec
54
Dec
9% Dec
46
Dec
93
Dec
6.18% D cc
5.56% D ec
36% Dec
8% Dec
24% Dec
55% Dec
82% Dec
114
Dec
110% Dec
55
Dec
Range since Jan. 1.
Lowest.
75
105
90
9.43%
105
15%
87%
61
98%
82%
92%
73%
50
5
25
92
5%
5
23%
8%
23%
49%
79%
114
99
48
Highest
Feb 85
Apr 114
Jan 100
Dec 9%
Jan 115
Dec 16%
Nov 88
Jan 95
Jan 108
Dec 86
Dec 92%
Nov 94%
May 61
Mch 11%
Feb 46
May 99
Dec 6.18%
Dec 5.56%
Apr 38
Dec 8 %
Feb 27
Mch 60%
Dec 83
Dec 115
Jan 110
Dec 55
Sept
Jnne
Dee
Dee
June
Dec
Oct
Aug
Aug
Dec
Dec
Apr
July
N ov
Dec
June
Dec
Dec
Dec
Dec
June
Dec
De?
Dec
May
D ec
Outside Market.— Stories of a proposed merger of copper
properties had the effect of creating an active market for
these stocks on the “ curb” this week, especially in those is
sues directly concerned. The market generally was irregu
lar, though several issues show substantial advances. Bos
ton Consolidated from 2 1 ^ sold up to 23 }^ , dropped to 2 0 y s ,
and moved upward again, finishing to-day at 23. Butte
Coalition rose from 29 to 2 9 fell to 2 8 Y > recovered all the
loss again, but closed to-day at 29. Greene Cananea moved
up from 12 to 1 2 Y and ends the week at 1 1 J 4 - Miami was
an active feature and advanced from 1 9 % to 21. Nevada
Consolidated ran off from 2 6 % to 2 6 % , improved to 2 7 % ,
and sold lower again at 2 6 % , with the final quotation to-day
2 7 % . Ohio Copper improved over a point to 6 % and ends
the week at 6 % .
La Rose Consolidated advanced from
4 11-16 to 5 1-16 and rested to-day at 5. In industrials,
United Cigar Mfrs. common was conspicuous for wide fluc
tuations, gaining 7 points to 92 and dropping to 86. It moved
upward again, reaching 8 8 % to-day. Sears, Roebuck & Co.
common was also prominent, advancing from 163 to 1 6 9 % ,
then selling down to 159. It reached 160 finally. American
Tobacco gained 7 points to 437, but lost all the improvement.
Guggenheim Exploration sold down from 242 to 239 and up
to 240. Standard Oil advanced from 658 to 672 and reacted
to 666. Chicago Subway sank from 5 % to 4 % .
An inci
dent in the bond department was the initial trading in the
new St. Paul gen. 4s at from 10 0% to 1 0 0 % and back to
100 7-16. N. Y . City 4s, “ w. i . ,” were traded in down from
1 0 0 % to 1 0 0 % . N. Y . Telephone 4 % s , “ w . .i,” advanced
from 9 7 % to 9 8 % and eased off to 9 8 % .
Outside quotations will be found on page 1587.
New York Stock Exchange—Stock Record, Daily, Weekly and Yearly
O C C U P Y IN G
STOCKS— HIGHEST A N D LOW EST SALE PRICES.
Saturday
D ec. 11
Monday
Dec. 13
Tuesday
Dec. 14
Wednesday
Dec. 15
Thursday
D ec 16
Friday
Dec 17
Sales oj
the
Week
Shares
TW O
P A I .K -
STO C K S
N E W Y O R K STOCK
EXCHANGE
Range for Previous
Year (1908).
Range since Jan. 1 1909
On basis o f \W-share lots
Lowest
Highest.
Lowest
R a ilroads
9773 Jan 13 1253g O c t 2
1217s 122I2 12214 122=8 1215S 1223., 1211= 122U 1217s 1223g 122i4 1221= 56,550 \ tch T o p e k a & San taFe
lOH.i 104% 1041= 104*8 1041= 1047s 104*8 1043, 104U 1043, 104% 10434 4,685 xjl D o p r e f_____________ 100*4 Jan 20 106*4 J ’nc29
1.'5411 105
1351= 13712 13738 13712 13612 138*2 13712 138*2 rl35% 13812 10,925 A tla n tic Coast L in e H R . . 107*2 Jan 14 1431= A u g 12
117*1 11712 1173.1 1181.1 1173g 118
117 11734 11733 1177g 1173s 11812 22.400 | B altim ore & O h io _______ 10312 F e b 23 1221.1 J ’ly 29
96 A p r 12
91 N ov23
D o p re t_____________
92
92
500
*91
9212
92
92
*91
93
*91
93
*91
93
827g J ’no 7
67 Jan 9
797g 80*4 16,540 B r o o k ly n R a p id T ra n sit.
797s 80*2
7978 SO-lg 80ls 8C3,
797g 8OI4 79*8 80*2
180U 1803., ISO'., 180*8 1791= 1S033 1783, 17934 180 18012 180*4 18012 9,458 / 'a n ad ian P a cific ________ rlG5 M ch 3 18933 O ct 5
60*4 Jan 11
70*4 N o v 15
*6812 72
*6812 72
100 v ^ a n a d a S o u th e rn ----------*07
72
68I0 68% *6812 72
*6812 72
100 Central o f N ew J ersey___ 215 F e b 23 323*= Sep 18
*205 315 *305 315 .305 315
311 311 *305 315 *305 315
55=s
J
a
n
6
90 O c t 8
Chesapeake
&
O
h
io
_____
16,225
871g
873g
87
87*2
87
87*2
87
87%
873S 88'8
87l4 877s
577s F e b 24
74*4 A pr 1
67*4 68I4 *67*4 68*4
1.300 C h icago & A lto n R R ____
*07
68
67
G77g
*67
6734 67
67'4
70 N o v 1 78*2 Meh27
D o p r e f____ __ _________
*6912 72
600
70
70
70
70
70
70
211= D ec 13
h8
A
u
g
20
Chic
G
W
es
ctfs
dep
3d
pd
21
211.,
21
2H4
12,100
"2 b u 20%
20=8 2112 207s 2138 V l i g 21%
6U4 N o v 5
64 N o v 3
D o 4 % d eben ctfs d e p .
*61
65
*61
65
*60
631= *60
*60
65
65
6312 *60
27 A u g 16 37 D e c 17
D o pref “ A ” ctfs d e p .
36*4 361= 36*2 37
‘ l",666
36
36% *341= 361=
351s 36 "
3512 36%
2712
D e c 13
D
o
p
ref
"
B
”
ctfs
3d
p
d
.
*13%
A
u
g
23
4.600
27*2
2714 27I4 *27
26
26
271, 27I4 271., 271.,
26
27*2
15634 157=8 157*2 1587S 15812 159*8 39,016 C h icago M llw & S t P a u l . . 141 F e b 23 165*8 Sep 18
1563, 15718 157 15712 157 158
D o p r e f___
___ _____
158I2 M ch 15 181 A u g 16
1,605
17212 172=8
*172 17312 1721= 17212 1721= 17212 1721= 1721= 1721= 173
1803, I 8H4 1811= 18112 181*8 1817g 14,330 C h icago & N orth W estern 17313 F e b 24 198I2 A u g 18
176% 17714 1771; 1803s 1801S 182
D o p r e f________________ 208 M ch 15 §230 A u g 7
*210 235 *215 230 *215 235 *215 235 *215 235
600 Chic St P M inn & O m aha 148 A p r 22 167 A u g 13
*155" loo’
155 157 *155 160 *154 160 *154 160 *154 160
D o p r e f________________ 166*2 Jan 30 §180 J ’ly 27
10
*160 175 §170 170 *160 175 *160 175 *160 175 *160 175
7 Jan 4
31, D e c 16
3t2
3*2
500 Chic U n T r a c ctfs stm pd
334
334 *312
312
312
*31 ■> 412 *31.,
412
4
734 D e c 7
I 8I4 Jan 27
D o p ref ctfs s t m p d ____
*712
10
300
8*2
812
*8
10
*81=
0
*81.,
9*2
91.,
914
68 Jan 29
791= F e b 16
3.800 Cleve Cln Chic & S t L ___
79*2
7812 7812 79
771= 7812 78=8 78=8
70l2 76%
761= 78
D o p r e f________________ 100 Jan 4 105 “ M ch 22
*1051, 10312 *10512 110 *1051., 108 *10514 108 *10514 108 *105*4 108*2
51 O c t 23
6SI4 Jan 8
56*2 5G34 *54
5412
700 C olorad o & S o u th e rn ------5634 561= 5612
56'2 5612 56=8 56=8 *56
86 M a y 1
761= J a n 2
D o 1st p re fe rre d _______
82
*81
82
510
* 8 H., S134 813., 8134 *811., 82
811., 811., *81
731T Jan 2
841= Jan 7
D o 2d p re fe rr e d ----------*80
81
81
600
*801.1 81
*80
81
8OI2 8012 80l2 8012 *80
183 183!., 183 18334 183 18312 183 18312 1833, 184% 18433 18412 2.800 T A ela iva re & H u d s o n ___ 167*4 F e b 24 200 “ M a yl4
100 JL 'elaw a re L a ck & W e s t . 535 F e b 6 680 A p r 22
*550
____ *550 . . . . 590 590 *560 595 *550 595 *570 595
37=3 Jan 6
54 A p r 20
5012 515g 21,585 D en ver & R io G ra n de___
49=8 50%
493, 50
49ts 4912 501., 5U8 5OI3 51
79i2 Jan 6
90 F e b 10
D o p r e f________________
6,825
8612
86*2
86*2
87*2
*86
86U
8G33 8612 8612 8612 861= 86*2
56 “ Jan 30
71*4 A u g 13
D etroit U n ite d _______ . .
*63
67
*63
67
*63
67
*63
67
*63
67
14L N o v 9
21 J an 15
167g 167g
2,545 D u lu th So Shore & A tlan
17
171g
1612 10'2
1678 1711 17U 1758 " l7 " ‘ 1738
28 F eb 23
D o p r e f________________
36*2 J an 15
1,921
33
3334 3234 3234 *321= 331= 33
§32% 3212 33
333.| 33
22=s M ch 11
39 “ J ’no 7
34*4 24,500 T ? r l e -------------------------------34*8 3412 34
34
343S 34% 3438 3334 3412 3334 34*2
56*4 A u g 9
36*2 M ch 11
501= 51*4
5012 5012 12,166 -111 D o 1st p r e f_________
5073
50U 511.1
50U 51
501., 5034 50
D o 2d p r e f_________
46 A u g 2
28*= M ch 11
41
41
2,211
411= 42
41
4112 4 U4 413,
42 . 4238 4112 42
143% 1443,8 14334 1445s 143=s 144*2 143 1441g 143 143*2 18,830 G reat N orthern p r e f--------- 136=s F e b 24 1577s A u g 12
142U 143
Ir o n O re p ro p e rtie s___
88*2 A u g 12
65*8 M ch 12
813g 82
8034 81*4
7.600
8212 8034 813g
811., 8 H4
81=8 8233 81
21 D e c 13
13*= N o v 2 6
20
20
20
2012
485 G reen B a y & W , d e b cttB
20
201.1 2034 20
19U 2012 201= 21
39 “ F e b 1 04 D eo 17
93
93
94
04
500 T T a v a n a E le c tr ic ----------8812 8834 * 8 8 % ------ *89's -----96 D eo 3
XX
D o p r e f____________
83*8 F e b 5
____
*95
*9518 100
*95" 100
*951S ------ * 9 5 ' s ------ *96 100
97 M ay 3 126 A u g 14
100 H o ck V al J P M & Co rets
*
_____________1241
124= 124 *121 124 *108 124 *12U2 1241=
*121 124
941= J ’ no 11
88 A pr 27
8934 8934
100 H o ck in g V a lle y p r e f_____
*
_____________
90
* ____ 90
*881s
92 * ____ 90 * ____ 90
137 F e b 23 162*8 A u g 12
148 14912 3.500 I llin o is C en tral-------------*14612 148
1461= 148=8 1471= 147% 147 14712 14714 148
2573 D eo 8
1153 M ch 23
243s 24*8
23*2 241g 2334 , 2438 233,1 243S 46,160 JL nterboro-M etropolltan .
23=8 24%
2412 24*8
63% D e c 8
363t M ch23
D o p r e f---------------------60
6034 44,650
61
5934 6114 60
60
613.,
6 138 623s
613S 62
I
o
w
a
C
en
tral-----------------36 A p r 15
2G
34
N
ov27
*2914
2934
2.210
291=
30'4
29
2914
2934 30
2912 2912 293., 30
D o p r e f . . ____________
48 Sep 9
62 A p r 15
4,450
52% 55
54
5412 6312 543, *5334 54
55
54
5514 55
743, F e b 2
82 Sep 14
300 j r C F t S & M tr c fs , pref
*77
79
*78*4 80
*80
81
*8014 81
80
80
80
801.,
I
V
a
n
s
a
s
C
ity
S
o
u
t
h
e
r
n
..
37
F
e
b
23
50*4 A u g 18
8,570
4312
437g
43*4
45
4334
44
4334 44
4334 44
43=8 4H4
D o p r e f_____________
6773 F e b 24
75l2 A u g 18
1.300
71
7214
703s 703g
♦70I2 7 U2 7Hs 7Hs *7012 7U= *7012 71*4
191= F e b 25
29*2 A u g 2
475 T ako E n e & W e ste rn ___
27
201= §26=8 265s *26
2634 2634 2612 2612 +25
27
27
647g J ’n e l l
48 J an 23
340 JLi D o p r e f_____________
59
59
*56
59
*56
59
*56
59
5712 57*2 *5612 59
59 J an 4
7 Us M ay24
L o n g Is la n d ______________
*65
68
*65*2 69
*65
68
*65
68
*64
66
*65
67
153 1547g 154 15538 155 157*2 31.400 L ou isville & N a sh ville___ z l 2 l J an 29 162*2 A u g 12
15214 153
152 15312 153 154
140*4 140*4 140*4 140*4
237 Tl/T a n h atta n E le v a te d ___ 137 D e c 2 153l2 Jan 4
$142 142 *140 142 *140 142 *13814 142
42 Jan 5
l ”i-c t r o p o llt a n S tr e e t___
*20
25
*20
25
18 J 'iy 2
25
*20
2412 *21
*22
27
*20
25
6,5 Jan 8
51 S ep 16
53
53
1,200 M in neapolis & St L o u is ..
53
5334 *521= 53
5373 537*
' 533., 537g
5334 53“s
81
M
ch
10
90
Jan 8
D
o
p
r
e
f________________
*84
90
*84
90
*84
90
*84
90
*83
90
*83
90
9,550 M inn S t P & S S M a r i e . . . 132*= Jan 2 14gl2 Jan 8
140*2 14214 1401= 1417s 141 141
141 144
13912 140*8 I 4OI4 143
D o p r e f________________ 147 “ A p r 13 1641= A u v 9
3.050
15434 15578 15534 15534 156 156
♦154 155
154U 15712 1551= 156
D o leased line c t fs ____
89 J ’ly 22
92 “ Sep 17
*913g 921g *913g 92
1,510
92
92
913., 92
913s 913.,
913, 913,
351= F e b 23
50*2 O ct 18
4933 4934 49
495S 64,175 M o K ansas & T e x a s --------493g 50
49% 50%
491., 497s
493,8 503s
7 l “ F e b 23
D o p r e f________________
78*4 O ct 18
7412 7412 2,150
7H4 743,i $74
741g 7 U s
74
74U 741.,
7438 747s
771= A u g 5
65 F e b 24
10,200 M issouri P a cific -------------72
71*2 72
7134 7214 72
7212 7 134 72=8
71
7118 71
1221=
J
a
n
5
V
r
a
s
h
C
h
att
&
St
L
o
u
is
,
142
D e c 17
810
141*4 141*4 141 142
140 141
*134 139 *135 139 *137 140
61 S ep 16
i
*
a
t
R
y
s
o
f
M
ex
1st
pref
44i2
A
p
r
5
1.300
58
58*8
58*8
5812
581=
58*2
583S 59
*581= 59
*5812 59'4
D
o
2d
p
r
e
f
.
...............
21
D
e
c
1
26=8
M ay22
6.300
235g 24
2334 24*s
24%
24
24*8
2414 24
2418 2412 24
29,975 N Y Central & H u d s o n .. 12012 F e b 24 14734 A u g 18
123=8 1237g 123*2 124
123'8 12412 1241= 12478 123=8 1241; 123I8 124
69
N o v 19
N
Y
Chic
&
St
L
o
u
is____
481=
M
ch
15
6534
65*4
800
66
66
6612 6612
67
67
67% 67*2
67I2 0712
D o 1st p r e f____________ 100 F e b 20 100 F e b 20
*105 115 *105 115 *102 115 *102 115 *102 115 *102 115
95 N o v l9
D o 2d p r e f_____________
76l4 A p r 6
*92
97
*92
95
*92
95
*92
95
*92
96
, *91
95
5.500 N Y N H & H a r tfo r d ____ 1154 N o v lJ 174*4 J ’n e l4
15512 1563g 15534 156*2
1571= 157>2 15712 1581= 158 15912 *155 158
5553 J ’n e l2
42i4 F e b 24
49
49*4
7.050 N Y O ntario & W e s te rn .
483, 49*2
49
493g
49*8 49%
! 49
49i2 4918 495;
84% Jan 6 102 D e c 10
100 100*., 13.300 N o rfo lk & W e s te rn _____
99=s 100=s 100 1001; 100*4 101
1 1001s 10012 100 1003,
92*= J ’ly 28
D
o
a
d
ju
stm
e
n
t
p
r
e
f___
85i,s
M
ch26
897.8
897g
100
*89
90
*88
90
*88
90
*88
90
*88
90
133U F e b 24 1591= A u g 12
i 144 144% 14414 1461., 1451= 14658 146 116% 14 434 14534 1445S 14514 29,215 N orth ern P a cific _________
76 M ch 3 111*4 O ct 7
600 “p a c i f i c Coast C o ________
109 109 *108 110
10934 110 *1091= 111 *109 111
108 108
100 M ch 30 §106 Sep 28
JL
D o 1st p r e f_________
*101 108 *101
108 *101 103 *101 108 *101 108 *101 108
88 M ch 27 111 O ct 7
D o 2d p r e f_________
600
IO8I4 108% 109 109 *109I2 111 *109 111 *109 1101= *108 110
13412 13538 1347g 135*., 194,727 P e n n s y lv a n ia ____________ 12618 F e b 23 15114 S ep 29
13138 13512 1341., 135
134 1343s 13414 135
86*= Jan 5
P
lttsb
Cln
C
h
ic
&
St
L
.
.
99*8 D ec 17
19.300
98*2
993g
99
991.,
98
987g
981., 983g 98
98*s
97=8 99
D o p r e f________________ 104 F e b 10 110'4 S ep 21
200
1143, 1143, *100 120
*105 115 *110 115 *110 115 *110 115
T J e a d ln g _________________ 118 F e b 23 173*3 Sep 21
170U 17112 17H8 17178 1687g 172I2 16818 1713, 169% 171*8 169*8 170*., 499,200 i t
89 M ch 22
96 A u g 23
1st p r e f_____________
278
*91
93
92
92
91
91
*91=4 92
i *91
92
*91
92
2d p r e f. __________
90 F e b 1 104*1 M ay 13
4.200
100*., 100*,
100 101
993, 9934 100 IOOI4 100 101
*9912 1001;
45U D e c 13
20's F e b 24
423g 43*4 233,469 R o c k Island C o m p a n y ___
43
44
43=8 44Ig
44*8 443,
! 413s 423g
42=8 451.,
92*4 D e c 14
D o p r e f-----------------------57*8 F e b 24
90'g 9H=
89*8 9034 88*2 89*8 16,814
91
9214
903s 92
! 90
901"
74 D e c 8
65U M ch 29
500 D t L & San F r, 1st p r e f - .
*73
7412
*73
7412 *7 334 7 4
74
7312 7334 74
*73
74
60*i Sep 10
D o 2d p r e f............ .......
36 F e b 23
583., 59*4
3,750 0
59
59
59=8
60
6012 601, 6012 59
60
6OI4
35*s D e c 7
20*2 F e b 25
33
331 = 5.700 S t L ou is S o u th w e ste rn ___
33
3312 331- 337g
335S 341;
333., 31%
333s 33=8
471= Jan C 82 D e c 7
D o p r e f.............................
6,100
80*= 803
80
801= 80=8 80's
81
797s 807g 80
791.8 80
114=8 F e b 21 139*s A u g 16
130's 13U; 1311., 1317s 13178 1327; 1313, 1333S 13312 1351s 135 1353. 238,350 S outhern P a cific C o _____
34 A u g l l
22 F e b 21
321.8 321= 57,100 S outhern v tr cfs s tm p d .
32
32%
32
325;
321., 327g
313, 321
31=8 313.
75I2 D e c 15
GO J an 5
D o pref
do
74% 743. 31,173
7334 75
72=s 75
7412 751;
7U= 721;
71
711;
40>= A ug23
30 F e b 24
351= 35%
35*8 3512 11,906 fP e x a s A P a cific _________
35
351;
355s 861]
353 , 361;
*3514 353
421= J an IS
12%
D
e
c
8
T
h
ir
d
A
v
e
n
u
e
(N
Y
)
----123,
13
14
14
7.700
131= 14
13
131;
14
141;
1278 14
7 M ay 12
T o le d o R a ilw a ys & Light
15*3 Jan 2
*8
91=
*8
9
*8
91
*8
91
*8
9
*8%
9%
5473
O ct 19
43
F
e
b
2(
T
o
le
d
o
St
L
&
W
e
s
t
e
r
n
..
523.,
531.
53*4
533,
1,850
527g
533
53
635;
53<2
531;
5312 53%
741 j Jan 4
D o p r e f________________
6434 F e b 2
70
703,
70*4 703S 4,600
703S 703;.
70*2 701;
70l2 71
701., 705;
97 J a n 2 113*4 D eo 6
300 T w in C ity R a p id Transit
113
• Ill
113 *111
i l l 's H i's ------ ------ * 11112 1121; 112 113
219 A u g 16
1721= F e b 2
202 2031s 20234 2037. 2033g 204 224,300 1 Tnion P a cific __________
202 2023, 2023S 2033S 2021= 204
D o p r e f_____________ x 9 1 ” M ch 1 I I 8I2 A u g 16
104% 104*4 16,900 U
» 1023, 1023, 102=8 1033s 1021= 1023, 1023, 103lg 103 105
47 S ep 13
30 F e b 25
43
43
44
500 U nit R y s I n v ’ t o f San Fr
*421= 431; *42
433, 4334 427S 43
43I2 4312
77 Sep 14
D o p r e f________________
50*4 F e b 25
*7234 74
600
74
781; *73
7312 7334 733, 7334 *72
*7212 74
24*3 J ’n e l5
15 F e b 23
21
2H3 5.200 Y W a b a s h -----------------------211.
21ls 213S 207g 213S 21
*20*8 2 U2 2 HS 213g
D o p r e f___________
41 F e b 23
0184 J ’n c l5
36.300 VV
5734 68
67
683S 57*2 583,
! 5712 5734
57*8 583,8 571,8 58*4
56 D e c 16
64=8 551; 97,375 W est M d rects 4th p a id . 121 O ct 9
5433 56
5334 5534
463., 50
6312 54%
50*8 553s
127S Jan 4
5 J ’ly 1:
800 W h eelin g A L ake E r i c ..
812
812
*8
9
834
87g
+8
9
812
9
878
87g
D o 1st p r e f-----------------15*4 J ’iy 1:
257.3 Jan 8
400
17*2 183.
{ *1812 191; *1812 1912 *181= 191= *181= 1912 *18*2 191;
D
o
2d
p
r
e
f____________
_
6*=
J
’
*y
13
*9
101;
15*8
J an 8
100
*9
101;
*9
101=
*10
101=
*91= 10%
1 10% 10%
637.3 A p r 20
357g Jan (
4934
600 W iscon sin C e n tr a l..
*49
493 *49
49
493a 49
49% 491S 49U 4914 ♦49
D o pref T ru st Co c t fs .
917.3 M ay20
8614 M ch 3
Highest.
66 F eb
82*s F eb
59*2 M ch
761= F e b
80 Jan
37*4 F e b
140 F e b
54 M ch
160 F e b
251= F eb
10 " F e b
47 M ch
3*8 F eb
331= M ch
151= F eb
5 F eb
103*2 Jan
138 Jan
135*2 Jan
185 Jan
114 F eb
140*= Jan
5S A p r
4 Apr
471= J ’nc
85*8 F eb
21 F eb
50*8 Jan
39*4 F eb
141*2 F e b
420 Jan
14% F e b
39*4 M ch
32*2 A pr
6 F eb
1134 F eb
12 M ch
243g M ch
16 M ch
113*4 F e b
48*2 J an
8 Jan
20 M ch
$70 Jan
62 F e b
69 M ch
1221= F od
6*i Jan
17*8 F eb
10 F e b
271= F e b
57 " A u g
18 F e b
46 F eb
12 Jan
34 M ay
30 F e b
8711 F e b '
120 Jan
15 F eb
20 M ch
61 F e b
79*4 Jan
1231= F eb
IOH4 D ec
104 D e c
in to D ec
1117g D ec
94 D e c
093| D ec
ISO's N o v
68 N OV
229 D e c
59*8 D ec
68's D ec
79 D eo
14=3 N o v
68*4 A u g
43 D e c
17>s N o v
1521= D e c
164*4 D e c
185*= D e c
224 D eo
160 D e c
174 D e c
7*s D ec
18 D ec
701= D ec
097J D e c
59 D e c
79 D e c
76 D ec
181*s D ec
575 N o v
401= D e c
83*4 D eo
50 N o v
18*4 N o v
3334 N o v
36 N o v
5133 D e c
41 D ec
148*4 D ec
75*8 N o v
17*2 D e c
40 D e c
84 D ec
10412 D ec
93 D e c
149*4 N o v
20 D e c
49*2 D ec
32i2 D e c
57 D eo
751= D e c
42% D eo
72is D e c
26 D eo
58 D e c
56*8 D eo
1253.1 D ec
154*4 D ec
44*2 D eo
56*2 D eo
90 D eo
135 N o v
151*2 D eo
171= M ch
46 F e b
28*2 F e b
9734 Jan
4312 D eo
7512 D eo
67*2 D eo
122 N o v
90*8 Jan
126 D e c
241= Jan
57'2 D e c
90 Jan
105 N o v
60 F eb
85 D e c
1283g Jan
161 N o v
477g D eo
291,8 F e b
58 F eb
86*4 N o v
88 D eo
74 M ch
1167g Jan
157*4 N o v
65 Sep
9312 Jan
90 M ay
90 M ay
79 M ch
97 Jan
132*4 D ec
108*4 Jan
59 Jan
881= D ec
8 Ug M ch 1083,| N o v
l43i4 D ec
92ig F eb
78 Jan
92 D eo
70 Jan
99 D e c
101= F eb
25% D ec
20*4 F e b
625g D e c
42 J ’ ne
69 D eo
1914 Feb
42*4 D eo
24 D e c
10 M ch
241= Feb
557s D ec
60*4 F eb
122*2 D ec
9>s Jan
27*4 D eo
251= M ch
G3i2 D eo
12*4 Feb
37% D ec
151= M ch
47 A u g
61= O ct
15*2 D eo
12 F eb
50 D ec
33 F eb
73i2 D eo
78*4 F eb
96*8 D eo
1101= M ch 1847,3 N o v
79% A p r
98 N o v
40 D eo
15 Jan
591= D eo
27l2 Jail
20*s D eo
6*4 Mch
5234 D eo
13 M ch
4% M ch
12*8 A p r
6 F eb
131= F eb
13
26*4
15*4
381.!
D ec
D eo
N ov
D eo
BANKS AND TRUST COMPANIES— BR )KERS’ QUOTATIONS.
B anks
N ew
A m e r ic a I f . .
A m or E xch.
A u d u b o n __
• B a tte ry P k .
B o w e r y 1]___
B r o n x B o ro U
B ro n x N a t.
B r y a n t P k 1]
B u tc h A D r
. C e n tu ry f l . .
' C h a s e ______
;
Bid
Ask
Y ork
595
245
1 30
125
37-5
300
217
1 55
140
1 70
420
610
250
1 28
1 30
225
158
150
175
435
B anks
C h a th a m . .
C h e m ic a l
_
C itiz e n s ’ C tl
C o lu m b ia I f .
C o m m e rc e .
C o p p e r _____
C o rn E x I f . .
E a s t R iv e r .
F id e lit y fl_ .
Bid
Ask
348
200
1150
1 5 7 '= 162 1;
f 120
1 55
145
300
4 25
375
t 2 17
j 210
315
305
335
325
1 35
125
165
175
Bid
Ask
F i f t h A v c U - 4300
F ifth
............ 3 0 0
F i r s t ________ 8 7 5
1 4 t h s tir ___
1 55
F o u r t h _____ t2 0 1
R i g h t s ____
G a l l a t i n ___ 3 3 0
G a r f i e l d . . . t2 9 0
G e rm -A m
1[ 1 40
G e r m 'n E x y 450
G e r m a n i a if. 5 5 0
G r e e n w i c h 11 2 6 0
H a n o v e r ___ 1603
1500
350
925
B anks
t2 1 5
3 15
465
570
205
____
B anks
Bid
I m p & T r a d t5G7«2
I r v i n g N E x 205
J e lT e r s o n ll - L i b e r t y -------550"
L i n c o l n -------M a n h a t ta n ! 345
M a r k ’ t& K u l 255
M e c h a n ic s ’
M il
M e r c a n tile .
ISO
M c rc h E x c h
160
M e rc h a n ts ’ .
1721=
M etropolis 1 3 9 0
M e t r o p o ! ’ n1 ; 1 87 '=
Ask
210
190
430
355
260
1 90
100
195
B anks
Bid
Ask
M t M o r r is lJ .
M u t u a l 11—
N a s s a u 1f—
N e w N e th ’d
N e w Y o rk C o
New
Y o rk .
N ’ h t A D a y li
1 9 th W a r d .
N o rth e rn . .
P a c l f i c l f _____
P a r k _______
P e o p le ’s 1 f_ .
P h e n i x _____
250
290
2 25
200
750
320
2 25
____
275
tio o
230
400
280
1 75
310
____
220
____
330
230
420
___ _
240
470
2 95
185
B anks
P l a z a l l ______
P r o d E x c l i If
R e s e r v e ___
S e a b o a rd . .
S e c o n d _____
S h e r m a n ___
S t a t e I f _____
1 2 th W a r d .
23d W a rd ..
U n io n E x c .
W a s h I l ’ l s 11
W e s t S id e If
Y o r k v l l l o 1!-
Bid
.1 s t
6 25
170
120
350
400
135
2 95
____
140
195
27 O
500
___ _
175
1 30
375
___ ___ 300
180
----- --
600
* n td and a s je d prices: no sales were m ade o n thiS d a y l i Ex-rlgiits. {L e s s th a n 100 shares. ifs t a t c ban ks, a E x -d lV ld en d and rig h ts. 6 N ew s to c k .
. t Sale a t S tock E x ch an ge o r a t a u ction tills w eek. h First Installm ent paid. « Sold at p riva te sale a t this p rice . t 2d p aid, y 3d p a id .
----- --
—
---- -
D e c . 18 1909
N e w Y o r k S to ck K e co rd — Concluded— Page 2
]
STOCKS—-HIGHEST A M ) LOWEST SALE
Saturday
D ec. 11.
Dec. 18.
Dec. 14.
Wednesday
Dec. 15.
PRICES.
Thursday
Dec. 16
Friday
Dec. 17
245 *240 275 *240 275 *240 275 *240 200
i; 3,
15% 15l>* *15
151- •1512 155* *151* 173,
6412 54*34 547* 651.,
55
66
533,
54
873*
88
88
883*
87
88'*
871*
883*
87 >4
4014 *45
40
40
403* *45
40'i
46
51021* 1021* * 1021* ____ * 102!2 ____ +1021* ____
47
47
47
47
47
47
48
47*4 47%
*9212 94
9-H? *9212 901- *921- 94
94
96
14
111* 143*
14%
14
Ml.,
1434
141., 143*
8234 831,,
843* 8434 x83% 83%
8414 84%
717* 72
72
7214 72
721,
721- 723.
73
1191- *1171* 1191., 1181- 1181- 118% 118*2 *1181* 119
683., 091* *07
69
G9'2 6812 091O9I4 69
107 *1031- 107 *1031- 105 *1031- 107
205 *255 265 *255 “ 205 *255 ' 265
8
*77*
8
8
8
8
8
8 '4 *77*
8
8
401., 40% *453, 4034
4G% 47'.,
4 0', 40'i
247* 25
2434 2*5,
25
25
25
2614 2SU 253.,
24 3 201*153.1 16%
1534 1534
JO
10
IOI4 § 10l4 le u
10
15% 16
42
*39
41
41
411.4 *40
*39
40% 40%
411] 413, *40
007* 01
0012 0084
61
01-* 013.,
01
01
on01% 613*
1137* 1137* §114 114
114 111
1131- 113% 114 114
4113 113
73,
*0
8
7^4
*7
734
7%
7*4
71?
7*2 7lo
42
42
42
42
41
41
*41
41
41
421- *41
*10
90
903* *891- 901?
90
90
*8912 90%
901, 90-3* 90
93
100 1003* 101 1021., 100 * 1023* 1005* 1011- 101 i o n - 1013* 1017*
1111-11134 110*41111- 1111- 111%
110% 11034 11034 1113* 1115* 112
*250 800
♦250 300 ❖ 250 300
*09 101
* 9 / 101
*981- 101
*99 101 *100 101
*97 101
057*
05
041- 6412 05
05
05
05
05*4 057*
05
05'i
12310 1237* 124 124% 1231- 124
1231* 12334 12314 123% 123% 123%
121-ls 121% * 1211- 122 *121
12334 12334 1217* 1217* 122 122
123
1427* 1433* 143 14.JI., 1423* 148
14134 1427* 1413* 1423*
142% 143
97
973*
96'* 90'*
901- 901901- 90%
*90
97
97197
36% 307*
38
38
38'*
36
37
375* 38
38% 383*
37
*104 105
1041- 105
105 1055* 1045* 105
105U 1051., 104*>8 lords
493* 50
491- 50
4934 501*
*48% 49U
49*4 4934
493* 49'*
*33*
4
31312
334
*3
4
*3
O'*
•Ps
3*4
3434 *34
33^3 333g +331- 35
343,
341*
*34
34
3414 34%
08
*00
08
0712 071- *60
67*4 08
*67*4 08%
*0712 OS
*14312 115 *14312 145 *1431- 140 *1431- n o
14 412 1451- 1443. 14434
____ ____
*10
19
18
19
171- 171- *17% 18
*17
*17
343* 343*
3413334 3414 +3312 35
34U 311- §3414 3U4 34
4614 40'*
403. 4714
461- 47
4012 4034
47
471*
47
47U
____
____
1007* 1007* 1007* 107
108 108
107 107
108 108
515* 523*
63
52
515* 621.,
50% 51151*4 5234
51% 52
893., 81.3,
8914 8934
891- 90
891., 89*4
8012 89180'4 8'J3,
30C. 20c.
29c.
30c.
30c. 30c.
15134 153
15134 15211513* 152k, 15()l4 1515* 15012 151
15114 152
2234 23
233*
23
2312 227* 2314
2234 231,1 23
22% 227*
85
85
853*
85
845* 845* *8412 85%
85
♦84% 85185
63
02
02I4 *02
03
01
*59
03
02
*59
* 0012 03
367* 383*
3G34 3714 37
37
377* 381- *37% 381,
*30% 37
♦__
81 ♦ 8112 * ____ 81
811- ♦__
811- ♦___
81
88*4 *87
90
*8734 00
88
88
88
*87
88
90
*87
10034
1003S
IOOI4 10012 I 6OI4 161
15912 100
160 100
159 100
103 1037* 1037* 1037* +98 104 *100 104
♦ 100 105
102 104
no
10912 111)
HOB 109 110*4 109 11012 110 11034 112 113%
124 124 *124 124*4 124% 12434
*125 125U §12514 12514 12434 125
7
+7
7%
712
71*7
77*
*7
77*
*7
7*1
734
2334 2334 23% 23%
2414 24U
24
23
233* 2384 2312 235*
10
101.,
155* 10
15% 15/*
1534 16
1515 10
*16% 10
007* OU607* 00/*
01*4
o n 2 o u 2 01
01
61
*60
61
5034 6034 *50% 61
*5012 61
*51
5U5U* 51% 61
61
90
8912 8912 90
+89% 90
*8912 901- *891- 0014 ♦89*2 90'i
109 1091, 100 IOU'8 10334 1091* 1085* 1087* 1085* 1087* 1081. 1083,1
9134 *9014 9134
OI84 9134 *90
0134
91*4 *90
*91
9U 2 911767* 767*
77
77
+77
77%
76 % 701*
*70l4 77
7d4 7 6*j
♦ 115 118
117 117
1101- 117
11012 110i2
117U 1171j 117 117
4121 121 *121 124
124 124
124 1241- *123 125
123 125
285* 30
30*4
29
30
28% 29%
29
27
281*
281* 293*
§9934 993,i *97 100
*97 100
981- ea% *98 100
*87
89
873.1 88'.,
871- 873.,
88% 883*
87% 8714 8734 88187*, 88
llO li n o u *1091- 111 *1091- 112 +1091- 112
*10912 110
110 n o
907* 97
9634 0034
*94
90
9012 9012 97
95190
95
80
847* 853*
x84
853*
85-3*
87
84% 85%
86V, 873*
42U 43
41
401- 41
43
41*4 397* 41
40U 42
4Q5o *473. 49
473. 473.
48
471. 471.
48
48
48
♦114 1147* 1141- 1141- 114% 1145* 11412 1145* 1141* 1143* 114% 1157*
27>2 28
27
283*
271, 291*
277* 285*
281* 29%
27't 277*
68t2 093,
693* 7Ut
095* 697*
7034 75I4 751- 77
75
70
5234 5234 521- 521623.1 5 U 2 6214 515* 62
52
52
62
♦10434 105V, 10514 105% 10:33* 1058* §105 105 *105 100 + 105 100
♦ 190 195 *190 195 *190 194 *190 193
190 190
190 190
43,
434 ♦4
*4
♦4
434
♦4
431
*53*
*53*
0101?
*53*
Cl.
*63*
0163*
*53*
5*g
0»4
51
5 U4 52
621*
5U - 62
51
62
62
62
*5112 62
♦ 104 107 ♦104 107 *104 107 ♦104 107
4534 46%
46% 47
403* 467*
46i4 47
401,
40
40
47
10012 1001- 100'- IOOS4 IO6I4 107
1001? 1071.1 107 1071* *1041? 105%
88
881, 89
88
87'2 88'2 867* 87
801- 80%
86*2 87
♦ liy i- 1191- *117% 119!2 *117l2 118
11734 I I 734 +
118
118 118
3 884 +38
38
38*4 *37i2
♦3814 39
OS!* 39
*37% 38%
9012 *89
+89
91
*.89
91
*89
91
+89
91
*89
9011234 131* * 1212 13'? * 1212 I 3I4 * 1212 EJI4
*1214 123,
I 2I4 12%
*74
♦74
751- *74
751- *74
7.11o *74
711
7512 ♦74
77
1207* 1207* § 120!2 120’ - * 12012 121 “ * 120% 121
* 1201- 121
' 1l()1o 1101- 1101- 1103. 110*4 11112 i n i . 1111- l l l l o 112
1 UH4
3212 325*
325* 32% *321- 33
*32
32!2 333* 32% 33
33
84
81
84
84
84
84
41143, 843,
8 B - 841- §84l4 8134
109 109 *100 n o
1051- 1051- *105 110
*101
n o *101 n o
8134 82
*811- 8212 8214 82%
83
*82
*82
8212
83
*10
14
*10
14
♦10
14
14
*10
*10
14
14
*10
32
32
32
*25
32
+25
527* 53
521- 527*
53
64%
521- 521527* 5312 62% 531*117
118 n i 7
118
117 11712 117 117'* 117*8 1173* 117 117%
*83
83
83%
84
84
8312 83%
83*4 833.,
831- 831- *83
911, 921*
91
001* 915*
91
917*
90*3 91
921?
91
921,
1261* 1251- 1251] 120
1251., 1257* 12 47* 12534 125 1253* 125 126%
02%
013, 031.60% 0112 X6 l
001- 027*
59% 61
01 m 633.,
*481- 49
487* 60?,.
6014934 5015U,
501* 5<)l2 50
12234 12234 1221- 1221- * 1211., 1223, *121% 123
123 123 §123 123
72
*70
72
74
*70
83
73
*71
74
*71
*71
*221- 28
* 2214 20
25
25
+241* 28
♦241* 28
27
*24
*70
781* *70
*7512 80
78
§701- 701- *70
85
*70
85
4590 590 ♦570 C50 *580 050 +590 650 *590 650 *590 650
783* 7«%
781* 79
78'* 78178
78
777* 78178<4 783*
8334 81
84
84
84
84
8334 84
8212 835*
81% 82%
*130 134 *132 140 *133 135
135 135
133 133 *130 133
*238 250
245
15% 151*
*53
541- *53
8 o-54 873*
873*
4 .34 44
45 '
* 102%
* 1021*
-I7I.1 471-1 47^
96 “ *98
*93
1438 143,
i4-i*
84~v* ■ 84 '
♦84
72
7214
* 117U h o e *117
cp4
*03
6812
Sales of
the
Week
Shares.
100
1.100
3,700
96,800
2,700
10
2,80(
500
8,000
3,010
4,725
200
2,700
ST O C K S
N E W Y O R K ST O C K
EXCHANGE
190 Jan
1234 F e b
38 F e b
65 F e b
33 % Jan
95% Jan
20% Jan
82 Jan
7% F e b
711- F e b
44% F e b
1071- F e b
42% Jan
20 §250 N o v 20
24
167* Auir 3
24
571- N o v 17
96% N o v 19
20
5
50 A u g 12
18 103 A u g 3
13
491- A u g 2
7
98 O ct 4
15% N o v 18
23
23
80 J ’ne 4
761- N o v 4
24
23 1243i A u g 3
5
79% N o v 5
A m erican H ide & L eather
6% F e b 25
D o p r e f________________
A m erican Ice S e c u r itie s -.
187* Jan s
A m erican L in s e e d _______
12 F e b 25
D o p r e f________________
29 Jan 12
A m erica n L o c o m o t iv e ___
49 F e b 23
D o p r e f_____ __________ 109% F e b 24
A m erican M alt C o rp ____
5% J ’ ly 10
D o p r e f________________
38 N o van
A m e r Sm elters S ec pref B
SO Jan 4
A m e r Sm eltlng& R efining
7734 F e b -4
lio p r e f________________ 101 Jan 2
225 M ch 9
D o p r e f________________
95 M ch i
34'g F e b 24
3,900 A m er Steel F ou n d (n e w ).
2,400 A m erican Sugar R efining 1153* N ovan
D o p r e f_______________
500
118 N o v 15
13,011 A m erican T cle p h & Teleg 125 F e b 1
90% F e b n
1,450 A m erica n T o b a c (new) ,pf
20 F e b 4
4,430 A m erica n \V o o le n ________
Do p r e f________________
9334 Jan n
2,325
9,350 d A n a co n d a C o p p cr P a r i 25 $3734 F e b 26
$27* Jan 26
000 dB atopilas M ining P a r i 20
1S3j M ch 9
000 |>cthlchem S te e l________
47 F e b -4
400 I > D o p r e f_____________
525 B ro o k ly n U nion G as____ 118 Jan 28
13 Jan 13
100 B run sw ick D o ck & C Im p
237* Jan 2
1,122 B u tte rlck C o _____________
25% M ch 2
11,900 / 'e n tra i L e a th e r________
0934 A p r 5
1,150 ' • D o p r e f_____________
29 F e b 23
51,050 C olorado Fu el & I r o n ___
213* F e b 23
3,300 Col & H o ck Coal & I r o n .
21c A p r s *
6.200 C om stock T u n n e l. P a r 12
231900 C on solidated Gas (N Y ) . 114% F e b 4
16% F e b 24
21,100 Corn P ro d u cts R e fin in g ..
D o p r e f________________
1,120
73% F e b 24
45 J a n 5
900 Crex C a rp et______________
D
istillers
Securities
Corp
32% F e b 23
6,400
Federal M ining & S m e lt’g
65 M ch 2
D o p r e f________________
965
80 F e b 24
2,950 G eneral E le c tr ic _________ 150% F e b 23
2,300 G ra n by Cons M S & P - .
91 M ch 12
12,675 | n t H arvester stk tr ctfs
62 J an 30
1,430 JL D o pref stk tr c t fs ___ 109% Jan 16
53* J ’ly 9
1,300 In t M er M arine stk tr ctfs
D o p r e f________________
1834 J ’ly 9
3,300
9% M ch 13
3,500 In tern ation al P a p e r_____
D o p r e f________________
2,150
4734 M ch 18
550 In tc rn a t S team P u m p ___
33% F e b 25
D o p r e f________________
82% Jan 30
225
11,250 L a cled e Gas (St L) c o m . . 104 J ’n e 25
70 Jan 21
200 M a ck a y C om p a n ies_____
D o p r e f . ---------------------69% Jan 0
600
961- Jan 2
700 IVJatlonal B i s c u i t _______
D o p r e f ____________ 118% Jan 11
850 1 *
125* F e b 24
27,225 N at E n am el’g & S ta m p ’g
D o p r e f................. ...........
82 J a n 5
250
71% F e b 25
4,500i N ational L e a d ____________
D o p r e f________________ 10234 A p r 21
400
80 F e b 23
1,312 N ew Y o r k A ir B ra k e____
72 Jan 13
10,350 N orth A m erican C o, new
29% F e b 24
0,060 D a c lf lc M a ll_____________
45% N ov 10
1,100 J- aclfio T elep & T e l e g ..
4.250 P e o p le ’s G L & C (C h ic ). 10U- Jan 13
43,685 P ittsb u rg h Coal C o_____
10 A p r 21
D o p r e f_________ ______
19,110
40 F e b 25
301- F e b 23
2,000 Pressed Steel C ar________
D o p r e f________________
450
96 F e b 20
300 P u llm an C o m p a n y _______ 169 Jan 30
J io
138
5,861
2,010
1,020
200
700
11,373
1,020
850
568,157
10,035
79,400
21,200
45C
lot
IOC
5C
It
4,691
7,801
400
Sep
3
42% A p r 13
20 J ’ n e l4
4734 J ’ neM
69% A u g 4
122 A u g 4
l l i - J ’ ne 1
59 Sep 20
923* A u g 27
1051- N o v 20
11634 A u g 6
96 Jan
1034 F e b
50 Jan
471- O ct
27I4 F eb
721- N o v
59 F eb
111 Jan
7S3.i Jan
52 J ’ ne
99 J ’ne
6 O ct
10 F e b
8 Apr
47 O ct
13 Jan
65 Jan
97% Sep
41 N o v
13734 A u g
131 N o v
1325* N o v
971- J ’ ly
32% D ec
97 N o v
S53% N o v
S5 M ch
27% N o v
57 N o v
152% N o v
17 N o v
§25 Jan
33 D ec
102 D ec
42 D ec
27% D ec
44c A p r
107 D ec
201- A u g
80 AUg
48% O ct
3834 D ec
94 A u g
89 N o v
16234 D ec
109% J ’ly
675* N o v
110% N o v
9 M ay
267* D ec
13% N o v
65 J an
397* D eo
84% D e c
52
597*
08
102
7%
570
3G
87150
42%
24
F eb
F eb
Jan
Jan
F eb
F eb
F eb
Jan
J an
M ch
Apr
78 N o v
7134 N o v
97 D ec
120% D ec
15% D ec
z32% D ec
92 A u g
106% N o v
98 N o v
78 N o v
40% D ec
80 Jan
81- M ch
361- F e b
17% F eb
09 Jan
147 Jan
106% D ec
145j D ec
50 D ec
45 D ec
102% D ec
174 N o v
1% Jan
2334 F eb
31- D ec
49% D ec
1434 F e b
63 J ’ne
36 Jan
871- Jan
$251- F eb
45 F e b
4 F eb
447* Jan
29 N o v
891- N o v
81% N o v
110% D ec
$52% N o v
841- D ec
9-* N o v
0634 N ov
80 M ch
28 Sep
9834 Jan
105 F eb
101 Jan
721- Jan
151- F eb
78% F eb
J27i- F eb
S2% Jan
12 Jan
35 A p r
x85 F eb
6 Jan
510 F e b
15% F e b
7534 Jan
155* F e b
1434 M ch
10 “ M a yl3
3 M ch 29
32% M ch 8
541- A u g 4
977* F e b 24
R e p u b lic Iro n & S teel___
165* F e b 23
491- Sep 29
D o p r e f________________
07% F e b 24 110% J ’l y 28
C loss-S h efH eld Steel & Ir
945* O ct 4
68 F e b 23
O
D o p r e f........................ 1073* F e b 20 120 Sep 1
dT ennesseeC opp er P a r 125 $33% O ct 13 349 Jan 4
T e x a s P a cific Land Trust
937* J ’ly 10
801- F eb 23
I ] nlon B a g & P a p e r ____
153* J ’ne 18
9% F e b 24
81% .l’ ne29
U n ited D’ ry G oods C o s .. 115 O c t 28
112 " D ec 17
U S Cast I P ipe & F ou n dr
35% J ’ ne 5
243* F e b 24
D o p r e f________________
70 M ch 2
87% A u g 1)1
U n ited States E x p r e s s ._
82 F e b 10 n o N o v 2 o
U S R e a lty & I m p r o v e m ’ t
04 F eb 2.1
87 Sep 17
U S R e d u c tio n & Refining
10 M ch 12
17% J ’ ne 17
U n ited States R u b b e r___
27
D o 1st p r e f____________
98
D o 2d p r e f____________
67%
U nited States S te e l_____
41%
Do p r e f____________ . . 107
(fU tah C o p p e r___P a r S10 $39%
V lrglnla-C arollna C h e m ..
40%
D o p r e f_________ ______ 114
V irginia Iron Coal & Coke
57
V u lcan D e tln n in g ________
0
D o p r e f____________- 45
A \ Tells Fargo & C o -------- 300
» * estern U nion T e l e g ..
64
W e stln g h ’se E l& M fg assen
74
D o 1st p r e f............ ......... 110
F e b 24
Jan 29
F e b 25
F e b 23
F eb 23
F e b 26
F e b 24
J an 18
F e b 23
F eb 1
J an 30
J an 5
F e b 21
F e b 24
M ch 3
Highest.
104 Jan §200 A u g
103* D ec
5 M ch
523! D ec
14 M ch
883* N o v
45*8 F eb
35 N o v
13 Jan
90 N o v
78% Jan
247* A p r
9% F eb
8 I-4 D ec
65 Jan
10% N o v
4 F eb
767* N o v
44 Jan
50-34 D ec
251- Fell
81% M ch 109 D ec
4434 N o v
2434 F eb
97 N o v
5224 M ay
231 F e b 9 81- D ec
373| D ec
121- M ch
317* A u g
121- F eb
171- D ec
G M ch
30% D ec
17 Mch
593* A u g
313* Feb
851-. Jan
113 D ec
85* Sep
3 M ch
21 Jan
511* S ep
S4% A u g
70 Jan
551- F eb
107 A u g
1103* A u g
873.1 F eb
105 M ay22
603* N o v 19
1363* S ep 24
131 A p r 8
1451* Sep 29
104 M aylO
40% A u g27
10734 J ’ne 14
354% N o v 10
$51- J ’ n e 30
36% Sep 21
69% Sep 3
151% Sep 1
21% O ct 4
37 N o v l3
5134 O ct 7
111 Sep 2
53 D e c 14
90% D e c 9
37c O ct 7
165% Jan 4
26% J ’ne 2
931- J ’ ne 1
63 D e c 14
41% Jan 25
95% M ay 11
94 A u g 11
17234 A u g 12
110 Jan 4
113% D e c 17
126% N o v 0
9 O ct 2
275* Jan 2
19% Jan 24
6934 A u g 3
541- N o v l2
91 Sep 20
1101- N ov2 0
95% N o v l 8
771- N ovlO
120 Sep 27
130 Sep 21
30% D e c 14
99% Sep 2
94 A u g 13
11334 A u g 12
97% N o v 9
87% J ’ ne 14
48% N ov27
64 O ct 4
120 A u g 16
293* N o v 9
77 D e c 16
56 A u g 3
11134 A u g 11
200 A u g 6
D o p r e f________________
100
3,300 R a i l w a y Steel S p r in g ..
000
IjOWCSI.
Highest.
1,900
1.721
5,800
1,100
500
1,800
702
800
400
1,000
71,200
2,500
11,115
2,050
3,910
240
000
Range lor Previous
Year (1908).
Range since Jan. 1 1909.
On basis o f 100-s/iare Mis.
Lowest.
In d u s tr ia ls M iscellaneous
A dam s E x p ress________
•CM U s-chalm ers_________
D o p r e f_____________
A m a lg a m a te d C o p p e r___
A in cr A gricu ltu ra l C h e m .
Do p r e t________________
A m erican B e e t S ugar____
D o p r e f________________
A m e rica n Can____________
D o p r e f________________
A m erica n Car & F ou n d ry
D o p r e f________________
A m e rica n C o tto n O il____
1581
171£6%
70
36%
4
F eb
Jan
Feb
Feb
F eb
5758 A u g 19
1734 F eb
123% A u g 24
76 F eb
89% A u g 23
42 F eb
947* O ct 4
2534 Jan
131 O ct 4
871- Jan
$0714 N o v 20 $20 Jan
56%’ J ’ne 14
10 F eb
123% A u g 23 x87 Jan
757* Sep 17
43 Jan
37% N o v 3
3 M ch
9134 N o v 3
25 A p r
§590 D e c 11 §250 F eb
41 F eb
85% N o v 10
90 A u g 7
38 Meh
58 M ch
145 Sep 30
307* D ec
78'* A u g
90 Jan
64 N o v
15% A u g
37% A u g
10S D ec
75% N o v
58% N o v
1143* N o v
$523.i N o v
4£34 D e c
115 N o v
OS N ov
10% N o v
501- D ec
325 N o v
7134 N ov
9 4 N ov
125 N o v
BANKS AND TRUST COMPANIES—BANKERS’ QUOTATIONS.
B anks
Did
Rid
Ask
Banks
Ask
Did
./lsfc
T ru st C o ’ s
Ask
Did
Did
A sk
Did
T ru s t C o ’ s
T ru st C o ’ s
T ru st C o ’ s
Ask
Brooklyn
Brooklyn
Brooklyn
G uar’ ty T r . 750
N Y L ife & T r t i l IC 1110%
N Y C ity
775
B orou g h If. mmmm 100
N ortli Side If 160
G
uardian
Tr
B
ro
o
k
ly
n
T
r
670
190
160
N Y T r u s t. 060
C arnegie . . m o i.- fl60%
410
420
P e o p le ’s ___ 155
B road w ay 1! 375
425
H u d s o n ___ 175
C itizens’ ___ 138
Standard T r 400
100
Central T r . 1000 1030
145
P r o s p ’c t P k ,| 150
B rook ly n If.
145
10O
K n lc k e r b ’ kr 340
F latbu sh . . 200
T it le G u * T r 573
580
C olum bia . . 315
225
330
360
T erm inal If.
First _______ 290
L a w T I& T r 240
F ran k lin ___ 215
130
T r Co o f Am 350
3U0
230
C om m ercial 135
145
245
U nion If____
IllllsldoU ___ 110
102
130
05
L in coln T r . 165
U nion Trust 1275
H am ilton . . 260
2 /0
C om ’ w ealth 140
150
175
H om e IJk If. 110
125
US M tg& T r 440
H om e . . . . 115
M anhattan
E m p i r e ___ 300
310
370
390
125
1 rust C o ’ s
U nit S tates. 1250 1205
H om esteadll 100
K ings Co . . 500
M ercantile . 725
E q u lt’ b lc T r 4S5
500
430
W Y C ity
Van N orden 235
M a n u fa c’ rs’ 410
250
L Isl L & Tr 300
M etro p o l.t’n 530
Farm I.o & T 1850 1875
550
315
A s t o r .......... 365
250
W ashington 365
375
M ech a n ics’ll 240
N a s s a u ____ 150
170
375
F idelity
202
M orton T r . 530
550
206
B ankers’ Tr 000
W estch ester 130
155
625
M ontauk . . 140
Fifth A v Tr 375
P e o p le ’ s ___ 300
M u t u a l____ 130
400
TP w ay T r . . 148
270
155
W indsor . . 133
140
125
F u l t o n ____ 2 20
140
Q ueens C o . 115
M ut AU’nce 130
N a s s a u ------ 240
305
150
\VltlIam sb’ g 80
N a t C ity ___ 295
* H ij and asked prices; no sales on this d a y . §I,cos than 100 shares, t E x -rlgh ts. b N ew sto ck , c E x -d lv . an d rig h ts. d N ow q u o te d dollars per share.
tSule at S tock E x ch an ge o r a t a u ctio n this w e e k , s T ru st c o m p a n y certificates. 11Banks m arked w ith a paragrap h (H) are S tate ban ks.
New York Stock Exchange—Bond Record, Fridav, Weexly and Yearlv
Jan. 1 1 9 0 9 , th e B xoh an gs m eth od o f qu otin g bond s w as ch a n ged , a n d p r ice s a re now a l l —“ a n d in ter e s t’ ’ —excep t to r in com e an d d e fa u lte d bonds.
BONDS
N. Y . S T O C K E X C H A N G E
W e ek Kxni.va D eo 17
US
US
US
US
US
US
Us
Ub
V.
tioveriimeiil
*§-2|
5; % |
|
2a cou sol r eg iste r e d .«1 9 3 0 ; (j-J
2 a co n s o l c o u p o n ....(11 930 <J-j
3s r e g is t e r e d ............. /clO lS %-F
os c o u p o n ....................tel01 tJ %-F
iis cou sm all b o n d s ..fc l‘J 18 %-F
48 reg iste r e d ................. 1925 %-F
is c o u p o n ...................... 11120 tj-F
i ’.ia O.iu 10-30 y r 2 s .fci9 3 0 Q-H
i - i < r n < lovi»rin nciil
A r g e n t.u e —In tern a l Gs o f 1909
im p erial Jap an ese G ov ern in '!
t i e r lin g loan 1 4 s ........... 1925
2d aeries 4 4 s ..................1925
S terlin g loan 4 s .............. 1931
Returnot ( u b a O s e x t e n d e b t ..
Sau L’ a u .o (B r a z il)t iu s t o s 1919
U b o. .M exico a : c Os ot 1899
U old 4s ot 1904..................1954
P rice
F r id a y
Deo 17
W eek ’s
R a n ge o r
L a st b a le
•0
I s
1
L id
A s k L ow
H ig h S o L ow H ig h
101 *0 Slue l o 1 Vl 1 0 1 4 1 0 io o *h 102 A
1 0 0 % ......... TOO‘a O ct ’ 09 ----- 100(4 103
103%
101% 102 % T 01% N o v ’09 — . 1 0 1
. . . . 1 0 0 4 102 4
100 -4 N o v ’ 08
114*4 110*4
1 1 4 4 1 1 5 4 1 1 4 '4 B e e ’ 00
110
110
2 no
121
115 4 110
100 100% 101 M a r’ 00 . . . . 101 101*8
M
t 05
OS
95 4 D e e ’09
F-A
J -J
J -J
M
J
Q
J
1 91
Sale
94*.
93*i
88
103
93 4
1 113*1 93 % 03 >4
i 88 dale
87 %
{1 0 2 103
102 ‘4
} 05 % 96% 00
j 08 % Sun. OVt,
0 4 T Salt
04*4
hese a r e p r ices 0 n
S t n t c m ul C ity S e c u r it ie s
Dist ot t.’olurabia 8 '0 o s .. .. l 9 2 4 F-A
Lou isiana new con sol 4 s ..1914 J-J
N ew Y ork C ity —
4% C orporate S to c k ........1950 M-N
4% C orp ora te s t o c k ....1 9 5 8 M-N
N e w 4 ‘i s ............................ 1957 .M-N
N e w 4 4 « ............................ 1917 M-N
4 4 % C orporate S to c k ..1 0 5 7 Nl-N
4 ‘V’ o nssessiut b o n d s ....1 9 1 7 M-N
4% C orporate S tock ....1 9D 7iM -N
N Y State— H ig h w a y 4 s .. 1953 M-S
do C arolina 4 ‘as 20-40.........1933 J-J
l’onn n ew s e t t le m e n t 3 s ..1913 J -J
V irgin ia fund (tout 2 - 3 s ... 1991 J-J
Os deterred B row n Bros ctla.
06
05
37
14
43
04
8
98**
4
94*,
the b asis
90*4
90
9 0 4 95*4
80 4 04 4
80*4 88*.
10 i *4 1 0 4 4
|02
05*4
0741014
02*4 05
o t 4>5 to St.
110 N o v ’ OS
........ 105 4 B e c ’ 04
100% Salo
100% sale
110 Sale
1 0 3 % .......
100% 110%
103->4.......
1U04 dale
1004
lo o ’s
no
10 2 %
100%
100%
110*4
N o v ’oo
110
110*4
103 7a B e e ’00
110 4
100%
l l3 » a J ’ n e’Ol)
101 ......... 1U2 4 Jan ’ 00
06 % ......... 95 4 N o v ’ O'J
03 A u g ’ OO
0 1 4 04
55 Sale
55
06
05 09*4
id 100
33 10 8 4
102 h
i>i 108%
__ _ 103
3li 100
112*4
102*4
. . . . 05 4
014
3'i 37*«
1014
103
112*8
104%
112 4
1U478
1 0 3 fc
113*8
102*4
05*4
03
01
l ia i i r o a i !
C ent bee So By
A lituuma
laba M idi bee A t Coast L in e
A lban y A Susa bee Del & llu d
A liegiion v V a lley bee P en n lilt
A lie g A W est bee B u ll R & P
3 77*4 87*4
784
79
7 8 4 ,....
A n n A r 9or 1st g 4 s ..........Ztl995 Q -J
9 9 7» 100 200 00*8 101%
Atoll T tS: S F c—G en g 4 s . 1905 A-O 100 Bale
9 8 % N o v ’ 09 . . . . 08*4 101*4
0 8 % ........
R e g is te r e d .......................... 1005 A-O
8 02
0 4 4 0 4 4 94 *4
05 4
94 4
A d ju stm en t g 4 s ............h 1005 N ov
02*4 F e b ’ 00
02*4 0 2*4
R e g is t e r e d ................... M1005 Nov
04 4 0 1 34 0 4 4
04 4 l*j 02 4 05 4
Stain tied........................./il9 0 5 , M-N
112*4 122
C on v 4s issu e o l 1 0 0 9 ...1 0 5 5 J -B 122 1 2 2 4 110 ‘4 N o v ’ OO
C ou v g 4 s ........................... 1955 J -I) 121% Sale 111*4 122 4 153 102 4 123 4
122*** 152 1*15*4 123%
10-yoar c o u v g o s ......... 1017 J -B 122 1 2 3 4 1 2 1 4
09 v8 Sep ’Oo . . . . 09 -j 09%
0 9 % . ..
B e b en u ires 4s S e r ie s H .1 0 1 0 F-A
9 3 s, . ..
08 4 J ’ly ’ 00 . . . . 98 4 9 8 4
S eries K .......................... 1 0 1 3 'F -A
07
09
00*s 97 4 07 Sep ’ 09
E ast O kla D iv 1st g 4s . .10 2 8 M-S
1 93% 00*4
03a4 94*4 94*4
01*4
S h ort B ln o 1st 4s g ......... 1058; J - J
1 1 0 4 113
8 Fo P res Jb Bh 1st g o s . 1042 M-S 109 >4 110 4 110 4 O ct ’ 00
A tl K n o x «fc N bee L A N
I
53 94
0 4 4 Sale
UC*4
04
95
A tla n tic Coast 1st g 4s.Zt.1952 M-S
A la M li l ls t g n gold 5s ..1 0 2 8 M-N 107 ......... 100 S e p ’ 09 . . . . 109 1 i 1
.
.
.
.
0
0
4
J
’ne’
O
O
06*4
06*4
B r u n s A W 1 s t g u g 4s ..1 0 3 8 J -J
C harles & S a v 1st g 7 s ..1 0 3 0 J -J 1 3 2 % .........
9034
1014
00*4 Sale
80 1 0 1 4
Li (fc N c o ll g 4 s ...............o l0 5 2 M-N
1 2 f 127
B a v F J b W l e t gold 0a .. 1034 A-O 127 ........ 1 2 7 J ’ u o ’ Ot*
1 1 2 4 114
1st gold 6s ..................... 1034 A-O 112 114 1 1 2 4 5 ’l y ’ UO
00 ......... 0 7 4 J ’ u e ’ Ol* . . . . 97
07*4
S il S p O ca A Cl g u g 4 s ..1 0 1 8 J - J
A tla n tic (& D a n v bee South By
A o s tin A N W Nee S ou Bacilio
9234 Sale
40 02
95
02 34
93
I>ait(fc O hio p rior lg 3 * a s . 1025 J - J
00 4 ......... 0 1 4 O ct ’09
0 i *4 93
D R e g is te r e d ................. Zil025 %-J
00 4 Sale
00
0 0 4 62 98*4 101%
S o ld 4 s ............................. 711948'A-O
97 4 N o v ’09 . . . . 07 4 100*4
R e g is t e r e d ................... Ztl048' Q-J ......... 0 J
P itts Ju n e 1st gold 0 s . .. 1022! J -J 103 ......... 1 20 o e t ’01 fftt
88
03
88 4 ........ y g a * N o t ’ OU
P J u n A M D l v l s t g 3 4 s l ‘J 25 M-N
9^3.
93
22 0 2 4 00
92% sale
P L E A W V a S y s r e t 4s 1941 M-N
01%
00 4 Sale 8 0 4
1‘0 4 07 80
QoutiiW BlV 1st g 3 4 s . . .1 0 2 5 ’ J - J
___
91
A
p
r
’
09
83 4 ........
01
91
R e g is t e r e d ................... Zil925lU-J
.
103 103
Ceu O lilo R 1st 0 g 4 4 s . . l 9 3 0 lM-S 103 ......... 103 J ’ n o ’OO
U 3 O c t '00 ....1*110 4 1 1 3 4
U1 B or A W c o n 1st g 5s 1933, A-O 112*8 113
U on ou ltlv 1st gu g 6 s ..1919: F-A 101 ........ 1 0 6 4 F e b ’ 07
113 S e p ’ 00 . . . . 113 1 1 3 4
O hio R iv e r R R 1st g 6s . 1930 J -B 112 114
G en eral gold 6s ..............1937 A-O ......... 110:*, 112 N o v ’ OO . . . . 108*8 112
, 10 4 M ar’ 04
P itts C lev <fc’Bol l s t g 0s 1922 A-0|
9 a 4 S e p ’ 00 . . . . 98
00 4
984
Pitts & W est 1 s t g 4 s . ..1 0 1 7
100 N o v ’ 0 4
S tat I si R y 1st g u g 4 4 s 1043 j - b :
Beech C reek bee N Y 0 A 11
B cllev A Car bee Illin ois Cent
Bkiyu A M on tau k bee L on g X
Bruns (Xs W est bee A t l Coast B
Builalo N Y & E n o bee E rie
1 114% 117*8
11334 1 1 5 4 U 4 4
1H 4
Buffalo B A B g e n g 5 s ...1 0 3 7
10Z
1 1 0 4 ! l 0 0 :*4 N o v 0 0 T
100 110%
C on sol 4 4 s .........................1057
102 4 Salo 102 4 102 4
1 100 102 4
A ll iVs W est l s t g 4s g u ..l 9 0 8
Cl (fc M ali 1st g u g o s . ...1 0 4 3 J -J i l a 3* ......... 103 J ’l y ’ 08
117*4 i i o "
Booh (& B itts 1st g Os...1 0 2 1 F-A 110 “s 118 1 17*4 G et ’00
C ou sol 1st g Gs..............1022 J -D 118 1 1 0 4 1 2 0 *» A u g ’OO Tt f 118*4 1 2 1 4
......... 833, u it jN o v 'u a
8 1 4 90
Butl A Susq 1st ret g 4s.<tl051 J - J
Bur U B (fc N bee O R 1 & B I
101*4 Sale 104*4 104*4
10
4 101 107
I -an So le t e x t O s ..............1013 J-J
L 2 d 5 s ................................... 1013 M-S 1 0 1 4 101*4 100*4 1)00 ’ 00 #••• 100 4 1 0 3
R e g is te r e d .......................1013 M-S .......................100*4 5i»y '07
Carl) <fc Shaw n bee 111 Cent
Carolina C ent bee Seab A ir B
C a r t h a g o * A d b ee N Y C & U
Ced R l a F * N bee B O H A N
Ceu B ra n cn B y bee M o Bao
115 1 1 6 4
Cent ot Ga l t l l 1st g 6 a ..p l0 4 5 F -A * 1 1 5 4 1 1 6 4 1164 F eb ’09
1074 1084 12 1077s 1 1 1 4
C on sol g old 6 s ........... .. .. 1 0 4 5 M-N 103 4 1 0 0
IT3 A p r’00
B e g is tc r e d ....................... 1040 M-N
80 4 Bee ’09 . _TT 70
90%
80
00
1st pret in com e g 6 s . .. .p l 9 4 5 Oct
00
8 0 4 D eo’OO •••• 80
80
00
S ta m p e d ................................... |___
6 03
87 4
85
80
85 4
95 4
2u pret in com e g o s . . . . p 1945 O ct
00
87
87 N ov’OU
85
80
2d p t e f in com e g 5s stam ped; . . . .
87
i 53
84 4 80
80
86
3d pret in com e g 0 s . .. .p l 0 4 6 Oct
JB
illlS C £ L L A N £ O l3
S t r e e t K iu lv v a y
B rooklyn R a p T r g 5 s ........1045
1st refu n d c o n v g 4 s ___ 2002
l ik C i ly l s t c o u 6 s . 1010.1041
Uk y Co A S con g u g 58.1041
B k iyu U 11 E l 1st g 4-53.1050
Stum ped gu ar 4 -5 8 ....1 0 5 0
K in g s Co El 1st g 4 s . ...1 0 4 0
S tam ped guar 4 s ......... 1040
N assau E lec gu g 4 s ___ 1061
Conn R y A B ls t(& r e ( g 4 4 s ’ 51
Stam ped guar 4 4 s ......... 1051
D et U nited 1st con g 4 4 s. 1032
H avan a E lec con sol g 5 s . 1052
I n fe r M et coll 4 4 s ..............I960
Xuter Rap T 3-yc co n v O s.1011
45-year 5s Series A ....... 1052
I n l e t ,nit T r a c c o il tr 4 s ..1040
iiiu m a E leo 1st tfc coll 6 s . 1053
1 0 4 4 1 0 7 % 105 D e o ’OO
“ 82
87
SO*, 87% 80%
1
103
103 ......... 103
OO ......... 0 0 4 M ar’OO
103 % Sale 102% 103% 69
1 0 2 4 103
17
86 D e o ’ OO
86% 86
6
86
85% 8 5 4 85%
80%
8 1 4 27
81 4 S al.
102*4......... 102% N o v 09
101%
101*4
4
1 0 1 4 .........
83 4 O ct ’09
02 N ov ’ 09
F A ......... 04
A <>
83 4
84% 7C0
JVI N 103 4 ban. 103% 103 4 55
M N i t ii Sal* 10.1
1 0 3 4 •15
70 Sep ’ 1)9
J -J
......... 71
vi- 8
08 M ay’ 06
A-O
J -J
J -J
iV1-N
F-A
F-A
F-A
F-A
J- J
J-J
J-J
» N o price Friday; latosc inis week.
IIFIat. a D u o J a n
BONDS
N. Y . S T O C K E X C H A N G E
W eek E noinu d u o 17
I *b1'
R a n ge
! b in c e
J a n u a ry 7
C e u to t G a B B —(C o n )
3d pret in com e g 5s stam ped.
Cliatt I n r pur 111011 g 4 s .1051
.Mac cfc N o r B iv 1st g 5 s . 1940
,Mld G a (fc A t l B iv 5 s . . . . 194^
M ob ile B iv l s t g 5 s........1940
Ceu B B A I! ot Ga cot k 6 s 1
C o n to t N .1 g e u ’ lg o ld bs.lO aV
lte g is t e r e d ................../il 9 » 7
A m B o c k A Im p gu 5 s ..1021
Be cfc l lu d B gen gu g o s 1020
Bell 35 W ilk s U Coal o s .. 1012
Con e x t guar 4 4 s ___ fflO ll) Q-.M
N Y ,fc B on g Hr gen a 4s 1041
Cent Baeiho ' bee b o B acilio (.'o
C e n tV e rm o n t 1st g u P 4 a .el9 2 0 Q-F
Clias (fc Sav bee A t l Coast Bine
Clies tfc O hio gold Os........ a lO l 1
G en B in d in g & u n p tS s .1 9 2 0
1st con sol g Ci3 .................. 1039
R e g is te r e d ......................1939
G eneral gold 4 4 s . . . ........1992
R e g is te re d ......................1992
B ig ban dy 1st 4 s ............. 1941
Craig V a lloy l s t g 5 s___ 1949
P o tts C reek B r 1st 4 s . . 1910
U (to A D iv 1st con g 4 s .. 1989
2d con sol g 4 s .................1989
W arm Snr v a l 1st g 5 s ..1941
G reen b rier Uy l s l g u g 4s ’ 40
C h ic A A lt UK ret g 3 a ...1 0 4 0
R a ilw a y 1st lieu 3 4 s . ..1 0 5 0
R e g is te r e d ...................... 1050
C h ic Burl (fc Q— D eny D 4s 1022
Illin o is D iv 3 4 s ...............1949
R e g is te r e d ......................1940
Ills B iv 4 s .........................1049
Io w a B iv sin k turn! 5 s . .1919
S in k in g fund 4 s ............. 1919
N e b ra sk a E x ten sion 4s. 1927
R e g is te re d ...................... 1027
Sou th w estern D iv 4 s ___ 1021
J o in t bonds ,Ve« G reat N orth
B e b e u tu re 5a..................... 1013
G en eral 4 s ..........................1038 M-S
lla n 3s St J o s con sol 6 a ..1011 M-S
C l u e * E 111 ref <fc im p g 4s 1955! J - .
1st co u s o l g Os.................. 1934 A -"
G eneral c o n s o l 1st 5 s ___1937
R e g is te re d .......................1937
C h ic A I n d C R y 1st 68.1930
C h ica go 3b E n o See Brio
C h ic In * B o u lsv ret Os...1 9 4 7
R e fu n d in g gold 5 s........... 1947
B ou lsv N A (fc Cli 1st Os. 1910
C h ic In d <fc S ou 50-yr 4 s ..1 0 5 0 J
Clue M il 3c s i P term g o s 1914 J
G en eral g 4s s e n e s A . .c l0 8 0 ' J
R e g is te r e d .....................elOSO UG e n e r a lg 3 4 8 series B .«(l>80 J25-yr d oben 4 s ..................1031
C h ic (fc B b u D l v g 5 s . . . . l 0 2 1
O lio 3b M o R iv B iv 5 s ...1 0 2 0
C h ic (fc Pao B iv Os........... 1010
Chio A P W 1st g 5 s ........1021
B a k 3b G t So g 5a............. 1010
Far 3b Sou a ssu g Os........1024
H a st tfc B D iv l s t 7 s ........1010
1st 5 s ..................................1010
B aC rosse A D 1st 5 s . ...1 0 1 0
M in era l P o in t D iv 6 s ....1 0 1 0 -
So M in n D iv 1st Os......... 1010, J ■
Wis<fc M in n D iv g 5 s . . . . 1021 J MU A N o 1st M B O s....1 0 1 0 ' J ■
1st c o n s o l Os................... 1013' J ■
C h ic A N o rth w con s 7 3 ....1 U 1 5 GE x te n sio n 4 s ......... 1880-1020 FR e g is te re d ........... 1830-1920 FG en erai g old 3 4 s ............. 1987: MR e g is t e r e d ...................2*1<
J 87 y S lu k in g fund O s...1 8 7 9 -1 9 2 9 'AR e g is te r e d ........... 1870-1929 AS in k in g lum l 5 s . .. 1879-1929 AR e g is te r e d ........... 1879-1929' AD eb e n tu re 6 s .................... 1909' MR e g is te r e d .......................1909! MD e b e n tu re 5 s .................... 1 9 2 1 'AR e g is te r e d ...................... 1921 AS in k in g fu n d d ob 6s........1933 MR e g is te re d ...................... 1033' MN o rth Illin o is 1st 6 s ___ 1010 AilM i! B S (fc W est 1st gO s 1021 ME x t3 b Im p a fund g 5 s 1020 F ■
A sh lan d Div 1st g O s.. 1025 MM icli D iv 1st g Os..........1024 J ■
i n c o m e s .......................... 1011 MClilo R o c k 1st (fc Pao O s...1 0 1 7 J ■
R e g is te r e d .......................1017 J G en eral gold 4 s ................. 1088 J ■
R e g is te r e d .......................1988 JR e fu n d in g g 4 s ................1934 ACoU tru s t S e n e s l i 4a . . 1910 MJ 4 s ................................... 1912 M
M i s ................................... 1915 MN 4 s ................................... 1910.M
O 4 s ....................................1017.M
P 4 8 ................................... 1018 MChio R 1 3b P a o R R 4 s ..2 0 0 2 MR e g is te r e d ......................2002 M
CoU tru st gold 5 s ......... 1013 MBur Ced R do N o rth e rn —
|
Cou l s t ( f c c o l t r g 6 s ...l0 3 4 A 0
R e g is te r e d ................... 1034 A O
C R IF 3 b N VV 1st gu 5 s .1021 A O
M (fc S t B 1st g u g 7 s ..1027 J ' 1)1
116 N'ov’ 03
llO fc M ay’ OJ
A o L ow H ig h
...
01
82 *8
00*8 0 0 %
::::
i ’f o *4 i '10‘4 .
105 101 4 D ec ’ O'J . . . . 104 100
15 124*4 l '-'O
120
, 1254 125
124
124
[109
! io ii*8
91»7* ......... 100
89
3 12-1 127*4
10a *4 110*8
•i
O ct ’ 00 . . . .
00*4 101
00*4100 4
80*4
90 4
1014103% .
102 Sep ’ 00
116 1 0 0 4 105
104*4 105
11 3 ‘4 D e o ’OO!.. . . j 112 . : v
114 4 r e b ’ OO
11 3 4 1 1 4 4
102*4 103
22 l02*g 100%
1 106 105
105 A p r ’00',
83
83 '
6 87 4 01
110 M ay’ OO
107 4 110*4
00 J a n ’ 00 .
00
00
03 D e o ’ OO1
08 1 0 0 4
1*4
04
94
97
1 13*4 F e 0 ’05|.. . . t
1N o v ’O'J
04*4 9 4 %
1 D e c ’ 09 .___ 1 76
ao
704
1
74
8 73 4 77
O ct ’ 00
73
75
1 98% 109*4
1
00 4 !
03
1
00
27 80
1B e c ’ 0 8 1,
1 100 4!
8 liio 103-8
1O c t ’ 00 ___11 0 6 * 8 1 0 8 4
* 9 '4
4 99*4 101*4
I
0 0 78 15 99*a 102*4
1M a t’ oy
1 0 1 * «1 0 1 %
004 .
1 0941
09 100%
1014
094
101*4
80
I26*i
113
]
*
.
;
1
J
101*8 1 0 1 4
09
102 :
85 4
120 :
i i 'i " ;
18
03
00% 103%
98 101
101% 103%
86
00
21
lv d
137
. . . . 112% 115*4
114
111*4
112 4 116
. . . J 127 120
2 1 1 2 4 111%
100*8 102%
--T- 03*4 06 %
___ 104 % 106*4
. . . . 1 0 1 4 104%
*103 4 O ct ’08
80
85
03%
100
,100*4 103 J
IU8 *
109
108 4
88
92%
93*8 96
108 *8 109%
110*4 113%
101*4 103
20 1(18 1 1 0 4
1U4i\ lUd7*
137 4 J ’ ly '01 . . . .
, i o u 4 'i u o
.
103410/
*
............TOO *t *
1......... 100
-
i ........ ' 103 4
1100*4100 4
1 1 2 4 1 1 4 % T 13
93*4 V9*8 09 4
lw8 '«
100 '*
D c o ’ 00
90 4
..................... l o o 4 J ’ly 'Oo
......... 80 4 ‘ 80 >4
80*4
.....................I 03 *8 A p r ’00
111*4......... 112 A u g ’oO
1 1 1*4......... T 1 1*4 N o v ’ 09
10.s*4......... *100*4 N o v ’ OO
1 0 0 4 Sale I l0 0 4
1004
Foil i u 2 >4
lo o
101
■10/ 107
100 *t 101%
100 102
6 108 n o
1 100*8 101%
105*8 107*4
113 1 1 0 4
i 00 4 1 0 2
99% lu 1
,T3 89 4 94%
9.1% 93%
. . . . '1 1 2
112
1 109*4 l i l t
. . . . 108 1 . 0*4
1 109 4 110%
’ i 00*4 lU l
iUu% 100%
t __J 107 109*4
....1 .
7 100 1 1 3 4
10/
103'*b'107 4 bep ’ oO
......................*103 J ’n e’ 07
110 1 1 1 4 1 0 0
110
100 4 ......... TOO J ’l y ’ 08
100 l u i *101 A p r ’ 00
l u l 101%
l lo ° 8 I l7 * 4 'l 17*4 D el ’00
11 Z*4 119%
1 1 1 4 110
1114
120 4
:::
119 4 1324*123*8 A p r ’ 0 9 1____ 122*4 123 4
101
1 0 3 4 Muy’ uOl___ 1 0 3 4 103 4
111%, 112 111*4 D e c ’O'J1___ 1H*4 114 4
113 4
111
113'* A u g ’ o o ;___ 113
09 bai«
98*4
00 4 112 08 1 0 1 4
09 A u g ’0 9 1....* 00 100 4
084
00 4
0 1 V 143 8 9 '4 94
9 0 4i Sole
97 J T y ’04* . . .
99*8
U7*» 97*4 97 J ’ ue’ 091. . . . 97
97
0 1 4 95*4 0-14 A u g ’ oO*....I 04 4 9 4 4
03 4 U-l 4 00 D c c ’ llU!___ 93*4 00
92 4 03 *,„ 0 3 4 A u g’ OO*___ 93
06
91*4 03*8 03 4 A u g’ OO___ 9.14 03 4
80*» bale I 80 4
81410(10 7 3 4 82*4
......... I 80 J ’ l y ’ O'J___
80
80
102*4 102**8 102*4 10‘2 *»201 87 4 102*4
1134H 5
1115
May’ OO ___1115
117
..................... 120 4 M ar'03
106
' I l l N o v ’OS
..................... *.........................
B O N D S — C o n tin u e d on N e x t P a g o .
102 4 1 0 8
8 1 4 804
1024105
00 4 00 4
100% 106
1024164%
86
87 4
85
88
7 8 4 84
102 102%
101% 162%
S t r e e t I t a i ’.Tvay
M et S t R y ge n co l tr g 53.1997
l ie f g 4 s .............................. 2002
BwayOb 7th A v l s t c g u s 1043
ColtfcOth A v l s t g u g 5 s .1093
B ex AV A P F i s t g u g os 1003
T h ird A v o R R c o u g u ls 2 0 0 0
C e n t T r Co certts stin p d ...
T h ird A v e R y 1st g o s . . 1037
N O rl R y & B t ge n 4 4 s ..1 0 3 5
St J o s R y B t H A P l s t g 6 s ’ 3i
s t P aul C ity Cab con sr 6 s . 1937
T rt-C ity Uy A B t I st 3 f 5 s .l0 23
U n derground 0' Bon 6 s . .. l 9 2 o
4 4 3 ....................................... 193.1
in c o m e 6 s ...........................1048
U nion El (C m c) l s t g 6 s ..i9 4 6
U nited R.vs S t B le t g 48.1034
U nited R R s S a n F r s f 4 s . 1027
89
02%
76
85
102 4 104%
10 L% 103 *70
72 4
.....................
d D u e A p r e D ue May
/ D u e t ’ ne
Z t D u d j’ iy
F-A
A-O
J -D
M-S
M-S
J-J
j-j
J -J
M-N
J-J
A-O
M-N
J-J
A-O
J -J
A-O
A;D ue .vug
......... 80
....... ............
101% Sait
......... 100%
...............
......... 70
67% Sale
1IJ8 4 110 4
......... 87
____ _
107*8 HO
07 % .........
......... 101
8 1 4 Hale
3J% bale
_ ,TTT. ____
......... 84
74
75 4
oD tie Hut
80 D e c ’ 00
48 J ’i y ’ uO
101% 101%
100 J ’noO'9
0 l O ct ’ ('0
18%
68 4
6 1%
08 b
1 0 1 0 8 4
86 4 O ct ’ 09
03 N ov'O b
107 4
107%
09 J’ ly ’ 09
98 A p r ’ uU
814
814
30
33%
84 O ct ’08
82
82
74 D e c ’ OO
pD ueN ov
7
"a 5
73
1
7 107 4 107 *8
03
00
03
03
■26 73 4 » 5 '*
37 4
IHt 22
i
30
704
a O p tlo n Sale
2
N e w Y o r k B o n d R e co rd — Continued—Page 2
l ‘r\ce
fY lrtav
D ec 17
Chio H ock 1 ifc P a c—(C o n )
O hoc Ok A O pen g 6s .01910 J .J
C on sol gold 6 s ................1052 M-N
K e ok ifc lir a M 1st 6 s ....1 0 2 0 A O
Clue St L A N O Dee 111 Cent
Cine St L * r i t t s bee I'euu C c
Chic St 1* 51 & O con G «...193 () j - ;
Cons Os redu ced to ‘3 > 2».l9 3 0 J -l)
Ch S t P ife M inn 1st g Os 1 0 I S WIN
N or W iscon sin 1st O s...1 0 0 0 J-J
St P & S C ity 1st g O s...1 0 1 0 A O
Chic ifc W es t lint geu g Os <71932 Q-M
C on sol 50 year 4 s ..............1052 .r. J
Clue A V. .M idi bee Pero.M arq
C hoc u ife U u lf bee C K 1 <fc P
Cln 11 & D 2d gold 4 ‘2 S ...10 37 J -J
Cin D ife 1 1st gu g 5s . ..1041 M S
C Kind A Ft W J s t g t » 4 s g . 23 M-N
Cin 1 & W 1st i n
4 s . 1053 J-J
Ind l )c c ife W 1st g 5 s . .. l 0 o 5 J-J
1st guar gold 5 s ......... --1 0 3 “ J J
O I S t L & C bee C C C & s t 1.
Cin s A C bee O C C s t L
Clearlield ife .Mali bee It K 4 1
Clev Cin O <& St L geu g 4s 1003 J-D
Cairo O iv 1st gold 4 s-----1030 J-J
Cin W ife 51 D iv I a t g 4 s .i0 0 1 J -J
Bt L D iv 1st col tr g 4 s .. 1000 M-N
llc g is t o r c d ....................... 1000 M-N
Bpr & Col D iv 1st g 4 s .. 1040 M S
W W Val D iv 1st g 4 s . . . 1040 J .J
0 1 St Life C cou sol Os.. 1020 IV!.N
1st gold 4 s ........... ....IclOoO Q -f
H e g is tc r e d ............... fclOBO
Cin S <& Cl con l s t g 5 s . . 1928
0 C C * 1 cou sol 7 s ......... 1014
C on sol sink fund 7 s ___ 1014
G eneral cou sol gold Os. 1034
H egistcred................... 1034
ln d HI ife W 1st i>rot 48.1010
0 ln d ife W 1st l)l!5 s ...<(1033
p e o & Last 1st con 4 s . .. 1040
l u c o u i o l s ....................... 1000
Clev ife .Marietta bee P en n lilt
Clov ife P itts bee Penn Co
Col M idland 1st g 4 » ......... 1047 J J
Colorait j ife Sou 1st g 4 s . ..1 0 2 0 F-A
K otuud ife e x t 4 *us......... 1035 M-N
Ft W ife D en C 1st g O s..1021 J D
Coluiu ife o i e e i.v b te .~o u y
Coi ife n o d i Vui bee D ock \ a
Col ife Pol .sec H ock Vai
Col Conti ife T erm .see S A W
Conn ife Pas Hiva Lstg 4 s .L '4 ./
Cuba H it 1st DO-yr 5 g . . . . l 0 u 2 J - J
i ia k & Ut So .see C M ife St P
X )a lia s ife w a c o bee -M K ife i
Del LacK <fe W estern —
Morrisife L'ssux I s l 7 s . . . l 0 l 4
1st cou sol guar Vs........1015 JH egistered................... 1015 J1st ret g u g 3 'o s ........... 21H10
N Y Luck ife W lo t 0 8 ...1 0 2 1 J-J
C on stru ction 5 s ........... 1025
T erm <&im p rov e 4 h. . . . 1023
W arren 1st ref g u g 3 *28.2000
Del .fc H ud 1st Pa D iv 7 s .l0 1 7
lteg lstereii......................1017
10-yr c o n v deb 4s........... 1010
lB t lio n eriuip g 4*28 ....1 0 2 2
1st & ret 4 s .........................1043
A lb «fe S ub c o n v 3*28........ 1040 A-O
H ens ife Saratoga le t 78.1021
Del H iv l il t B ridge bee P a HH
D env ife H Ur 1st cou g 48.1030 J-J
C ou sol gold 4*28................1030 J-J
Im p rovem en t gold 5 s . .. 1028
le t ife r e lu u d in g Cb ......... 1055
B io Ur J uuo 1st gu g o s . 1030 J ■
B io g r So 1st gold 4 s ....1 0 4 0 J ■
G uaran teed..................... 1040
Bio Ur W est 1st g 4 s___ 1030
M g e n n d c o l trust 4 « A .1 0 4 0
U t a h C e n t l 8 t g u g 4 s «1017
Oes 51 oi ife F t D bee 51 ife St L
U es.M oi Un B y l e t g 5 s ..1017
Dot .fc .Mack le t lieu g 4 a .1005 JU old 4 s ................................. 1005 JD otrolt Sou th ern —
O hio Sou D iv la t g 4 s ...1 0 4 1
Duiife lro u H ango le t 5 a ..l0 3 7
ltog lstered ...........................1037
2d Os..................................... 1010
Dul Short L in o Nee -Nor Pao
Dul s o Shore ife A tl g 5 s ..1037
l / a s t o t 5Iiuu bee St P 51 ife 51
1 bast T eu V a ife Ua bee So lty
E lgin J ol ife F a st 1st g 6s. 1041
Elm C ort ifc X o bee L e h & X Y
Erie 1st o x t gold 4s............. 1047
2d o x t gold 6 s . . . . . ........ ..1 0 1 0
Bil e x t gold 4 ‘a s . . . ............1023
4th o x t gold 5s................... 1020
6th e x t gold 4 s................... 1023
1st c on sol gold 7 s ..............1020
lo t cou sol g luud 7a.........1020
E rlo 1st con g 4e p r io r ..1000
B eg laterod ....................... 1000
le t con sol gen lien g 4 s ..1000
H eglalorod....................... 1000
P en n c oll tr g 4 s ..............1051
60-year c o n v 4s A ......... 1053 A
do
S e n e s B ...1 0 5 3 ABull X Y A K n o 1 s t 7 s .. 1010 JChicife F rio 1st gold 5 s .. 1032
Clov ife M ahon V al g 6 a .1033
Lon g D ock cou sol g O s.. 1035
Goal ife H B 1st cu r g u O e .1022
D ock ife Im p l e t c u r Oe.,1013
n
Weetc's
Kitnqe or
. Laet b a le
77 iyh No Low H igh
A six Lota
102 A u g ’ 08
......... i i i ! 111 *8A u g ’ 09 . . . . 111 l t i ’ s
102*a 10434 105 X o v ’09 — 103 106
Hia
120*4 127
•90*4.........
120 .........
120 .........
114*4.........
110 110*2
......... 52*4
2
12(5*4
93 D e c ’*>3
127 N o v ’ d'J
129sa Alay’ o 1
,114*8 1 I4 :*s 5
110*-j D e o ’ 09
93*8 D e o ’ 09 . . . .
12(5*8 130*6
.................
127 12y»t
129*8 i 2 9 f*8
IU
119
110*2 U 2 *2
93
08
+101 *2......... 113 O c t ’ 0(1
107*2 103*2 109*2 DCC’ 09
87
105
88
198
95
'87 X o v ’ 09 . . . .
2
105
105
107 V. D e c 02
9 96*2 99*g
96*-i
90*2
93
94*2 97
95*2 94*2 A u g'09
91
95
9 1*4 91 *8 N ov'0 9
96 X o v ’ 09
95
07*4
55
91 Oct ’07
94
90 D e c ’ 09 . . . . 90
96
..............
93
......... 93 8 c p ’00 . . . .
103*2......... 100 A p r'0 9
100 100
93*2 N ov’ 09 . . . . 98*2 190
98*2 100
98
98*2
98 ......... 98 A u g ’ 09
101) 1* ......... lot*1# b e p ’ oo
109 *8 109*2
1 109*4 H I E
109 *4 bale 10J*4 109*4
126
126*2 125
93 .........
0 0 *a Sale
80*4 81
90 *s bale
9 7 h Sale
113 “2 bale
.....................
X o v ’ OU . . . . 125
Bullalo Gas ls tg 5s.........1947
C oliunbus G as 1st g 5 s___ 1932
D etroit City U a s g o s .........1925
D el G as C o cou l6 t g 6 s ..,1 9 1 t
E q U L X Y 1st c o n g 6 s ..1932
Gasife F lee B erg Co c g 6 s . 1949
Ur Hap G L C o l e t g 6 s ...1 9 1 5
H udson Co Gas 1st g 5 s . .1949
Kan City (M o) Gas 1st g 6s 1922
K in g s C o FI Life P g 6 s . . . 1937
P u rch a se m oney O s ......i9 9 7
Kd F i l l Bku ls t c o n g 4 s 193*5
Lac G as L o l St L l e t g 6s.el91 V
Her and e x t l e t g 5 s ........1934
M ilw au k ee Gas L 1st 4 s . . 1927
N ow a ik C cn Gas g 5s.......1948
80 *2
90*ii
97*2
113 *2
95
3 80
80 *2
17 90* b
97
97*4 82 90*4
2 113*2
113*2
J a n ’ 09 . . . .
87 >2
99
loO 's
117*,
96
95
111*8 114*6
111*2 113's 111 X o v ’ 09
i 114 *4 117 ^0
114 115*2 114*4 114*4
......
127 J'n e '0 5 . . . .
94 S e p ’O.
93*8 90*4
117*8 12 1
l 10*2......... 117 *6 X o v ’OO
i 109 *2 112*8
199 *8 110 109’ s lu5*s
30*4
1 | 99*4 100*6
9 9 j4 ......... 99*4
102*8 F e b ’OJ
118*2 113*2
118*» .2 0
1 118*2 122
___
149 A u g’Ol
40 Tub 107 *i
102 bale 101*4 102
1023o D e c 09
101*2 103*8
101>102
.........101«8 100 2
ldU*a 49 IUO’4 193
9W's l o o
21 1 97 197
100 bale
127 ......... 128 X u v ’09 . . . . '128 128*«
......... 90
......... 103*4
10234 104
0T>s bale
m in
70"
93
84
94
bale
95
92
........
93*2
0 ! 90
90
00
103
104 X o v ’Ot
102 *j X o v '0 9 ___ 101*4
94*»
94*2 , 2 1
92°a
98*2
100
104
90*2
73 J ’ n e’ 09
78
80
85 M ar’ 08 . . . .
92 *2
93 I 23 92*4 199*8
84
84
87
2 83
1 .... .....................
110 Sop H)4
95 *4 O ct ’ 09
92 \ D ec ’00
......... 73*2 73*s
'<3\ |
i t a H 2 i l l *2 J ’ ue’ OI
'93
88
1
95
92*8
79
82
111*2110
.........
'
1
109 h i......... n o
o c t ’ o o L . .. 110
110*2
113*4 112
X o v 09 . . . . 112
115
112
1 0 0 * 8 .........
l o o *4.........
......... 104
100 *8.........
90*4.........
1 2 i* » 121*4
......... 120*4
bo*^ 80*2
70 *2 sale
80
Wale
7 3 34 balo
......... 115*2
113*4 114
no
_____
120 128
.........113
102 .........
101 X o v ’ OO. . . . 101
101
1U l i u c t ’ UiJ ... 1Oft U, lull**
194*4 -M-v’ Ob ___ 104*4 196
1U7 X o v ’ Oi
100 10 7*2
97 Jan 01 ....'I 97
97
0 120*4 126*4
121
121*4
124 A u g ’0 9 ___ 122 124
01
80*2
80*2
3 82
81 X o v ’ 0 9 . . . . 82
80F
70*2
7 1 132 ! 09*2 80
80
bO 1 U
81*4
82 *2 81
73
73*4 101
iio > 8 A u g ’ot*___
1114 X o v ’OO___
*121 D e c ’03 . . . .
120*2 O ct ’ 0 9 ___
111-1 J ’ n o’ 0 9 . . . .
'193>-4 c o t ’ 09 . . . .
76*4 09
03
89*4
57*2 89
115 110*8
111 117*2
...............
120 128*2
112*2 129
193 *2 119
R rice
a >/
L ee 17
>Vten’s
R an ge or
Last ba le
R ange
aillCS
J a n u a ry 1
High. A o Low Hla/i
Hi a
a s X Low
E r i e - (C o n )
S Y ife G reen L gu g 5 s .1040 M-N 1 0 2 * 2 ......... 103 M a r’09 ___ 108 108
105*4 107**
10(5 S e p '09
104 107
N Y Sus ife NV le t ret 58.1037 J-J
....... . . . . . .
100*4 D e c ’ 06
2d gold 4*28..................... 1037 F-A
89*8 92
b u 's O c t ’99
......... 89
G eneral gold 5 s ............. 1040 F-A
T erm inal 1st gold 5 s ...1 0 4 3 M-N
....|
ite g is 35,000 e a c h ... 10; ; M-N
e 100*8 10*2*2
M id B H o l N J I s t g O s .lO lo A-O i o o * ! i o b *8 tiio :v ’ T o o *6
105 Si aSTov’Oy
101 195*2
W ilkife 14a la t g u g 5 s . 1042 J-D
100*2 115
114 O c t ’ 09
......... I l l
Fvife ln d ls t c o n g u g O s .,1 0 2 0 J -J
E rlo ife P itts bee Penn Co
112 1 1 5 '«
1 i 5 D e c 'Ob
E v a n s ife T 11 1st c o n s 08.1021 J •J 112>8 115
i 100*4 101*2
ls tg e n e r a l gold 5 s ..........1042 A-O 109*4 Sale 100*4 100*4
...................
114 A p r ’05
Alt V e r n o n 1st gold O s.. 1023 A-O
S ull Co B ranch 1st g 5 s . 1030 A-O
L 'a r g o & So bee Ch 51 ife s t Pi
*- lin t ife P ore 51 b ee P ere Mar
Fla C <fc P en in See S ea A ir L ine
105 M ar’ 98
F ort S t U D C o 1st g 4*2-8.1941 J -J
85
83
86 X o v ’ 09
Ft W A B io G r 1st g 4 8 ... 1023 j - J .......... 87
< 'a l H ar ife S A A e e S o P a c C o
07
00
97
J
’l
y
’
09
.
.
.
.
A-O
7 a l H «6 l i 011882 1 st 5 s . 1013
.....................
G eorgia ife A la bee s e a A Line
Ga Car & N or bee s e a A Jane
G eorgia P a cific bee So Uy
G ila V G ife X o r bee So Pao Co
C+ouv ife U sw egat bee X Y Cent
G ram ! Hap ife Ind see P en n H B
G ra y ’ s P t T erm bee S t L S W
97 Sale
C5 7s
07 420 00*4 09*4
G t X-o r—C B ife (j coll t r 4 s 1021 J
DU ^ Sale
95*4 99
95*8
00*2
H egistered. h ..................... 1021 el
. ...
s ’. Paul M ife 51 au 4 s ___ 1033 J
iTS 132*»
123 X o v '0 9
120*2 130
1st co u s o l gold Os......... 1033 J 132 132
1 25 *2 128 132 A p r ’09
H egistered................... 1035 J
107 *8 sale 107*8 107*8
3 106 111
Keduced to gold 4*28 1035 J
108*4 J ’ n e’ot*
108*4 108*4
lto g ls te re d ................1033 J 101*6 l o t *2 101*6 101*6
i 10 i*B 103*2
Dakota e x t gold 0 a ....l0 1 ( ) 511 98 101
lb
98 “21 93
18
M ont e x t 1st gold 4 s . . 1037 J......... Pa ‘ k 100*4 O ct ’ 00
K o g lste re d ................... 1037: J9 3 * 4 ......... 98*4 O ct ’ 09
93*4 101*2
B M inn N’ o r b i v l s t g 4 s l0 4 3 A117 117
117 ......... 117 X o v 09
M lun C u ion 1st g O s..10 2 2 J •
130 O c t ’09 . . . 130 132*8
127*4
130
M o u tC 1st gu g Os___ 1037 J 130*4
mu
>’O0
H ogistoreii................... 1937 J 111 ......... 113 *i O ct ’ o9 . .. . 1 1 3 ‘a 117
le t guar gold 5s........1037; J 113 115*8 110 J ’n e ’ 09 . . . . 110 11034
W ill & S F 1st gold o s 1033: J G re e n b rie r Hy bee Ches ife O 1
07 4
03 ......... 05 *2 O ct ’ 09 . . . . 05
G u lf <fe s i l e t rei ifet g as 6 1 0 5 2 j J •
<fe St J o « < C li ils n
I
H an
o u satom o bee 1N Y X H«fe 11
4 103 100
103*8 104*2 103*8 103*2
llo c k Val ls t c o n s o l g 4 *23.1999 J 100*2 Hep ’ o3
H egistered .......................... 1000 J •
93*4 M ay’ O'J
93*8 98*4
......... 98
Col <fe H. V 1st e x t g 4 s .. 1043 A_
0 9 *4 F e o ’09 . . . . 0 7
09*4
98** 90
Col & T o l 1st ex 4 s ........1055 Fllo u e t E * W T e x bee So Pac
lio iistifc T o x Ceu A e sS o P a cC o
103*8 104H
191 *4......... 104*6 X o v ’ OO
C entral 1st g 4 s ..1051 J107-*6 -+u: ’ 07
I llinH oeisgiste
re d ..................... 1051 J00 ' ......... 90 " Sep ’09
88*2 04*»
1st gold 3 “us..................... 1 9 5 1 'J01
04
J6 . . . . . . 94 Sep ’ 09
H egiste re d .......................1051 J93 's 5 la y ’09
93*2 94*4
K xten dcd l s t g 3*2*.........1051 A80
80
30 J ’ly ’09
1st gold 3s s te r lin g ......... 1051 M100*4 101 7a 102 Sep ’ 09 ___ ’ 100*4 102*4
Coll T r u s t gold 4 s ........... 1052 A 90
00
><9 J ’u e ’u‘9
U eg iste te d .......................1052 A 09
99*2 90
99*4 iiii 03 *2 101*4
l s t rot 4 s ............................ 1055 51
14
9J
1U1»,
99
7
g
bale
99
7
e
100*4
J. X O ife T o x gold 4s ...1 0 5 3 -u '
.................
.......... 99 ’2 07 .M a y o /
lte g lste re ii....................... 1053
100 A p r ’ o'J _rr'_ 1 90 *2 100
......... 102
Cairo B rid ge gold 4 s ....1 0 5 0 J*4
89
*2
i
89
|
88*2
02
.........
39*4
liom svD iV ifcTerm g3 *28.1053'J,■
105 ......... D23 Ma>'99
M iddle D iv reg 5 s ........... 1021 F'
79 A p r ’ u'j . . . . 79
70
Omaha D iv 1st g 3 s ........1051 *
1.....................
70*4 D c c ’ us
St lam is DiVifetertu g 3 s ,1 0 5 i J '
. . . . . . 7U
.... I
H egistered.......................1051 J| 89*2 90**
......... 89
89*2 D e c ’ 09
G old 3 *28........................ 1051 J '
....
H e giste re d ................... 1051 «* ■
1
........ y i
S p rin g D iv 1st g 3 *28. ..1 0 5 1 “ ■
06 X o v ’ 09 . . . .
07*4 100
W estern L in es 1st g 4 s ..1051 *
'121 121
121
F
e
b
’09
.
.
.
.
B ellev ife Car 1st Os........1023 J
1*5*8 O ct ’O0
1 0 0 '* 0 8
06
C arb & Shaw 1st g 4 s ...1 0 3 2
119 c O ct ’ 09
.
''l
l S ’ e 120
118
117
*4
Ohio S t L ife X O g 5 s . . .1051 J
11 1 8 * 4 1 1 9
110 118 lia*»4 J ’n c'o o j
H e g iste re d .......................1051 ••
90
90
O ct ’091
.........
90
G old 3 *28.......................... 1051 J
5 la r ’03|
* 0 7 " ......... 100
M einph D iv le t g 4 s . . .1051 J
......... 98 J ’ l y ’ o s '
St L S ou 1st g u g 4 s ___ 1031 5*
Ind Blife W est 3 e «C C C ife St L T
97
........1 97 *2 G e t ’ 09 . . . J 90
93 *a
In d III <fc l a 1st g 4 s ......... 1050 J J
In tifc G r e a t X o r I s t g 0 s . . l 0 1 0 *} N 100*2 113 1109*2 1 1 0 *2! 2 109 117
85
103*4
S
*100*2
106**
lOO
’s
A
u
g’
0
9
___
2d gold 5 s ............................1000 51
T r u s t Co c e r tfa ....................... -• . . 107 Mile 1 0 o &s lo7M 84 80*2 108
t>0
3d gold 4 s ............................ 1021 51 S ......... 45*4 48 J ’ ue’ 0 9 ___ 48
Io w a Cen tral 1st gold o s . .1 0 3 3 J D 1 0 o 6* ......... 105*2 105 *4 27 104 111**
70
77
70
70*2 44 *4 *4 82
G old 4 s ................................. 1051 M S
al A ife G it bee L S ife 51 S
K au
ife M ich bee T ol ife U C
K C Ft S ife 51 bee St L A 3 F
K C A 51 It ife B bee 8 t L <fc S F
K an C <fe P a cilio bes 51 K ifc T.
73*2
73*2 12 71*4 75*4
73
74
Kan C ity Sou 1st gold 3S..10&O A-O
63 O ct ’0 0 ___ I
H egistered .......................... 1050 A
lt e l & im p t 5s A p r 195 0 ......... A -O 102*a sale 100*4 102*2(553 100 *« 102 *9
IvenluCKy C en t bee L ife X
;
K eok & D es 51o bee C K life P i
K n o x v ille <fc O hio bee So lty >
112s* 115*1
112*a........ 114 Deo ’09
I uko E rie ife W le t g o s .. 1037: J j
107 109*2
Ad 2d gold o s ........................104 L J j 100*2 107 107 X o v ’ Ul!
112*8 111 *4
1L3*2
X o r t h O hio 1st g u g 5 s .. 1045 A O ..........114*4 112*2
L Slio <fe Alich S bee X Y Cent
100*4 108*4
Leh V al X Y 1st g u g 4 *28.1040 J J 100*4 107 100*4 100*4
107 107
H e gistered .......................... 1040 J J 100*4......... 107 A u g 0*.
57
98
......... 9U34 I 9 7 * 2 X o \’ 0 h
L eh igh V'al (P a )c o n s g 4 s . 2003 M
116*4 118*4
Loll V T e r Hy l s t g u g 68.1911 A -O 115 11534 115*4 O c t ’ Ol*
H e giste re d ............................1941 A .O ....... .............109 *2 G et ’ 99
108
1 09
......... 103 N o v ’09
Loll V Coal Co la t g u g 5s. 1933 J J *109
90
97
Leh ife X Y 1 s t guar g 4 s . . 1*945 AI- 3 ........ 9 4 34 ' 9034 S e p ’ 01*
H egistered....................... ..1 9 4 0 51- s ........ o s 3* ..........................
E l C ife X 1st pt Oe . .. .. 1 9 1 4 A--O 102 ..........1 1 3 'e J a u ’OO
101*4 101*4
G old guar 6a....................1914 A O 100*2......... 101*4s e p ’ 09
Leh .fc H ud It bee Cent ot X JI
Leh ife W ilk esb bee C ent oi X J 1
L e r o y <fe C aney Vai bee 5Io P 1
B O N D S —C o n tin u e d 011 N e x t l ’ a g o .
C u s a n d E le c t r ic L ig h t
103 ........
. .
.
........
N Y G E L II <fc P g 5 s . . .19-18 J-D 102*8
107*4 1073!, 107*4 107*^ " Vi 107 ib*8 *
P u rch a se m on ey g 4 s . .. 194*9 F-A
83*2 85
00
b73i 00 D e c ’09
00 74
Ed E l 111 1st c o n v g 5 s . .1010 ■VI-3
no
................................................
......... .......
l s t c o n s o l g o ld 5 s ..........1906 J -J
101*410l*s 101 N ov'O b
100*2102*4 N Y < fc y E lL & P ls t c o n g 5 s l9 3 b F-A
..................... 95*8 fce p ’ 08
........ ........... N Y <fe H icli G as 1st g 6 s . 1921 A S
100
05 *8
..................... 90 Alar’ Oe ” *' ......... I I .I .. Pat ifc P as G ife E co n g 5s . 1949 M-3
90
0 1 *2 U c t ’ 01
. l ’ eo G as ife G 1st co u g O s.1*943 A-O 119 120
......... 101
100 O ct '09
100 100
lto lu n d in g g o ld 5 s .............1947 jl-S IOD4
101 105
10334 10t*4
105 J ’l y ’OD'*'* 105 105
ChG -Life Cke l s t g u g o s 1937 J -J
♦90 *« 100
100 Aluy'OU
100 100
Con G C o o l Ch l s t g u g S s .’ JU J D 102 103
102*2......... 101 *2 Sep ’ 05
101*2 1 0 1 *.
I iu lX a t G a s ifc O il3 0 -y i 5 s ’30 M-N ......... Ul*t
.......115
117 *2 A u g ’ 09 '**' 110 l i b
5tu Fuel G as l s t g u g o s .!* .'i 1 M-N 101
0‘J
*......... 80
88 b o p ’ Ob
.................... S yra cu se Jagliting 1st g 6 s .’5 i J-l)
102*4 103
10 2 34 l O i 3, 14 102*4 105
T re n to n G <fe k i 1st g 5 s ..1 ; g : V.-b
li 0*1,102
iU 0*2D eo’00
LOO 101*4 U n io n K loc L ife P ; s t g 5 s . 193: M S
90 *2........... 90
*2 O ct ’09 " I ' 90 *292 *6
U tica K l L •& P is ! s t Os.J1950 103
100 108:)b ........................ ................................ W estch ester L ig n t’ g g 5s. 1959 J-D
00
105
F r id a y ; la t e s t b id a n d a s k e d t h is w e e k , a
1‘25
j ’ l y ’ 08 . . . . .....................
93 D e c ’ 09 ___ 91
90S
00*2
01*4
99 *9 41 40
94
IH lSsC K LIiA N E O U rt
(Jus find E le c t r ic L ig h t
A tlan ta U L Co l s t g o s . . .1947
B k iyn U G as 1st cou g 5 s . 1945
109 *s
87
87
90*2 195
.........
94
.........
94*o
93
.....................
BONDS
N . Y. ST O C K E X C H A N G E
W eek K n dino d e c 17
R ange
b in c e
OO
•;>3 Jam M r y 1
c
£
BONDS
N. Y . STOCK E X O H A X O E
W eek E nding D eo 17
1 5 8 a
cc
c.
D e c . 18 1909.;
D u o J a n b D u e F eb
4D uo
A pr « Due day
A D u o J ’ ljr
fc D u e .V u g
102*8 102*e 40 100*9 1 0 t 7»
83*4
SI*-. 134 82*4
100 Sep ’09
100 1007*
no
112
110 D ec MO
97
O btjM ay’OO
98*2
0 7 F J ’l y ’09
1/7 *2 97*2
....... .
101*4 X o v ’ 05
i 10 121
120 D e c ’ o t
102*4 104
103*4 103*4
lt/3 104*2
101 D ec el*
10 1*8 103
102 X o v '0 9
HU1! 9 4 7*
9 4 ' q A u g’09
101 1111*4
101 D e e ’O.
09*4 N o v ’ OE
99*2 99*4
......... .........
110 M a j’ 05
....... .........
00 J a n ’ 08
102*9 Alai ’ 09
e D ue O ct
<7 D u e D e o
102 *9 102 *2
s O p tio u
S a lt
|VoL. L X X X I X
N e w Y o r k B o n d K e co rd — Continued— Page 3
1584:
BONUS
N. Y . STOCK E X C H A N G E
W eek E nding D eo 17
P rice
F rid a y
P ec 17
L ook D o ck Nee Erie
L o n g I s l’ d—1st cou x 6S.A1931 Q-J
1st con sol c o ld 4 s ......... A1931
G eneral v oid 4 s . . . ............1938
f e r r y g o ld 4 * a s................. 1922 M-S
G old 4 s ................................. 1932 J-D
U nified gold 4 s ................. 1949 M-S
D eb en tu re sold 5 s ........... 1934 J-I)
G uar r e f .cold 4 s . . . .........1949 M-S
B k ly n A M on t 1st g O s .. 1911 M-S
1st 5 s ................................. 1911 M-S
N Y B A M B ls t c o n g o s 1935 A-O
N Y & R 1 ! 1st ft 58........ 1927 M-S
X o r S h l) 1st con g g u 5 s o l 0 3 2 Q -J
L ou isian a A A r k 1st g 5 s . 1927 M-S
L o u is v A N asiiv gen g Os. 1939 J-D
G old 5 s ................................. 1937 M-N
U nitied gold 4 s ................. 1940 J -J
R e g is te r e d .......................1940 J -J
S ink la n d g old Os............. 1910 A-O
Coll tru st g old o s ..............1931 M-N
E H A N ash 1st g Os___ 1919 J-D
L (Jin & L e x gold 4 *as. ..193 1 A1-N
N O A M 1st gold O s ....1 9 3 0 J-J
N O * .11 2d g old 6s........1930 J-J
P e n s a c o la D iv g o l d 3 s ...1 9 2 0 M-S
S t L U iv 1st gold Os........1921 M-S
2d gold 3 s .........................1980 NI-S
A t l K n ox & C m d iv 4 s ..1955 M-N
A tl K n ox * N o r 1st g 5 s l9 4 0 J-D
H en d er B d g e l s t s f g O s . l O S l M-S
K o n tu ck y C en t g old 4 s .. 1987 J -J
L A X * M & M l e t g 4 V s 1945 M-S
L A N -S outh M )o in t 4 s .l9 5 2 J - J
N f la & S 1 s t gti g 5 s . ..1 9 3 7 F-A
N A C IJdge g e n gu g 4 *3S 194f J -J
P en s A A t l 1st g u g O s..1921 F-A
S <£> N A la c o n g u g 5 s ..1936 F-A
L A Jett Ik lge Co g u g 4 s . .l 9 4 5 M-S
L N A A C l i Sea D I A L
I X ahon Coal Nee L S 6 M S
I’ A anhattan R y con sol 48.1990 A-O
R eg istered ................... 1990 A-O
Stm pd t a x e x e m p t ..1090 A-O
M cK ’ p t A B V SeeN Y Cent
i l e x C en t c o n s g 4 s ........... 1911 J - J
1st c o n s l n o g 3 s ......... a l0 3 9 J ’ ly
2d c o n s luo g 3s tru st r e c ts ..
H ex I n t e r u a t ls t con g 4 s .1977 M-S
Stam ped g u a ra n teed ___ 1977 M-S
H ex N o rth 1st gold 6s___ 1910 J-D
M id i C en t See N Y Cent
M l d o t N J Nee E rw
MU L S A VV Nee C ldo & N W
MU A N orth Nee Ch M A St P
M inn A St L 1st gold 7 s . . 1927 J-D
P a cilio E x 1st gold 6 s ...1 9 2 1 A-O
South W e s t E x 1st g 7 s .1910 J-D
1st c o n s o l g o ld 5 s ............. 1934 M-N
1st and r efu n d gold 4 s .. 1940 M-S
D es M A f t D 1st g u 4 s.. . ’35 J -J
M in n A S t L g u Nee B C l i A N
M 8 t P A S S M c o n g 4 i n t g u ’ 38 J -J
M S 8 M A A 1 st g 4 in t g u 1926 J -J
M inn U n Nee S t P M A M
H o K an A T e x 1st g 4 s . ..1 9 9 0 J-D
2d g old 48.......................... p i9 9 0 F -A
1st e x t gold 6 s ................... 1944 M-N
1st A refu n d 4 s ................. 2004 M-S
G en s f 4>gs.....................1936 J -J
8 t L D iv 1st ref g 4 s . ...2 0 0 1 A-O
Dal A W a 1st g u g 5 s . ..1 9 4 0 M-N
K an C A P a o 1st g 4 s . ..1 9 9 0 F-A
M o K A E 1st g u g 5s. ..1 9 4 2 A-O
M K A O k 1st gu 5 s ........1942 M-N
At K A T o f T l 8 t g u g 5 s . l 9 4 2 M-S
Shor Sh A b o 1st g u g 53.1943 J-D
T e x A O kla 1st g u g o s . .. 1943 M-S
U o P a c ific 1st c o n gO s ...1 9 2 0 M-N
T r u s t g old 6s sta m p e d .a l9 1 7 M-S
R e g is t e r e d ................... a l0 1 7 M-S
1st coU g o ld 5 s ................... 1920 F-A
40-vear g o ld loan 4 s ........1945 M-S
3d 7s e x td a t 4 % ................1938 M-N
C en t D r R y 1st g u g 4S.1910 l! -A
Ceu B ran ch U P l s t g 4 s . l 9 4 8 J-D
Leroy A C V A L i s t g 5s 1926 J - J
Pao R of M o 1st e x g 43.1938 F-A
2d ex ten d ed g old 5 s ...1 9 3 8 J -J
St L I r AIA S gen con g 5sl9 3 1 A-O
G en cou stam p g td g 5s 1931 A-O
U nified A r e f gold 4 s ..1929 J -J
R iv A G D iv 1st g 4 s .. 1933 M-N
Verdi V 1 A W l s t g 5 s . 1926 M-S
M ob J A K C i s t co n s g 5s. 1953 J-J
H ob A O hio n ew g old 6 s .. 1927 J-D
1st e x te n s io n gold 0 s ../t l9 2 7 Q-J
G eneral gold 4 s ................. 1938 M-S
M o n t g o m D lv 1st g 5 s ..1947 F-A
St L A C airo coU g 4 s ..e l9 3 0
G uaranteed g 4 s ........... 1931 W
Al A O c o ll 4s Nee Southern
M ohaw k A M ai N eeN Y C A II
H onongalieia R iv Nee B A G
M ont C en t See S t P M A Al
M organ’ s L a A T See S P Co
M orris A E s s ex See D el L A W
Chat A S t L 1st 78.1013 j - j
N 1ash
s t con sol g old 5 s ..........1928 A-O
J asper B ra n ch 1 s t g 6 s ..1923 J -J
AlcAl M W A A l 1st 6 s .. 1917 J -J
T A P B ra n ch 1st 0 a . ...l9 1 7 J -J
N ash f lo r A S h ef Nee L A N
N a t lty s o f A le x p r 14*5S 1957 J - J
G uar g e n 4 s ...................... 1977 A -O
N a to f M e x p rior lien 4*ijs.1020 J -J
1st c on s ol 4 s .......................1951 A-O
N ew 11 A D See N Y N H A it
N J J u n o R R See N Y Cone
n
Week?»
R an ge or
Last Nate
Bia
a s !*
112 J-j Sale
*99*4.........
0 7 * 4 .........
98 1 0 l* 4
90
9“
9 4 >3 0 5 V
Low
112*3
H ig h
112*9
Low High.
110 1 1 2 **
■97a4 " ‘ 9734
90
98Q
100*3 100*9
100*9 A p r’0:
99*4 O ct ’ 06
94*4
94*4
104*9 D e c ’08
97 *9
97M 98*8 97 *9
1 0 0 * 9 ..
l O l ^ D e c ’ OS
100 ...
l l O Q N o v ’OC
104 ..,
103
lo a n 105 A p r ’ 07
109 N o v ’ 06
102*4 ..
96
93*a 97 N o v ’ 09
117Q Sale 117*4 117*9
114 117
114*9 1U *9
100 Salo 99 3s 100*4
......... 99 8 100 M ay’09
100 *4 ......... 100*9 D e o ’ 09
107 ......... 110 N o v ’ 09
n i *4......... 111*9 O ct ’ 09
106*9......... 107*4 J ’n e'09
1 2 4 7g 120 125 O ct '09
118*4......... 120 J a n ’ 09
107 108 107*4 A u g’ 06
1 U > 9 ......... 117 M ay’07
08
75
71 M ay’ OO
93*9 94
94
94
109 I liH i 110 J ’ly 00
110 Jan ’09
95
97
97 N o v ’09
1 0 5 * 9 ....
. .. D e c ’ 08
103
91*9 92*4 9 178 N ov ’ 09
101 113 J I3S. J ’l y ’ 09
101 . . . .
......... 110*4 11034 N ov ’ 09
110 ...
110*9 S e p ’ 09
94 N o v ’ 09
97
97
A p r ’05
99®s
07*3
99*8 sale
96*8 Sale
23*3 27*3
*23
25
06*9
90*4
23 »u D oo ’09
26*9 A p r ’ 09
80 J ’l y ’09
.......... ......... 80 F e b ’ 08
100*8 M.aj’ 09
132 135
108*4
H an ye
Nince
Jan uary 1
94*4 98
97
99*8
96
115*3
110
08*3
99
117*3
117
102*4
100
100*3
108*4
111
107*4
124*4
100*9
100*3
110*9
111 >9
107 3 4
12538
120
120
71
71
93*3 UO's
110
90
110
98*4
88 92
112*a 115*4
109 110*4
110*9 115-3
94
95 *9
92*3 100
99"
100*4
83*9 90*4
23*3 27»a
2 0 * 4 25 *3
80
80
io6®a i o i ’
132 *9 J ’n e ’00
132*3 130*3
107*3 100 107 D e o ’09
82*a 83Q N o v ’ 09
89
01*4 91 *a O ct ’ 09
101*4 103**
107 111 *3
83*4 87*4
91*3 91*9
9 9*«10 0
08*4 99*4
99*3
09*9
99 J ’l y ’ 09
100*4
99
99 Sals
80*3 Sale
103*4 104*9
84*9 85*4
91
92
85*9 87*9
103*9.........
......... 92
......... 112
......... 107*4
105 105*9
......... 108
104 . . . .
1 10*g 111
101 101*4
99
99>a
98*»101*4
86*9
87
86
88*4
1 0 4 ‘a 104*9
103*4 109*3
84*4
85
83*4 87 V
90*9
9
89*8 9 3 7a
88 A p r ’ 09
88
89*3
105 O ct ’ 09
105 110
91 N o v ’09
91
93
113 O ct 09
113 114*3
107*3 107
100*4 112
106 >3 D e o ’09
106 1 1 0
110*4 A p r ’ 00
110*4 110*4
104 D e o ’o .
104 111*8
l l l V D e e ’OO
111 l i b
101*8 101*8 20; 100*3 102 V
104*3 F e b ’ 07
102
102 102*4 102
101
...
103*4
82
81
82*4 81*a
78*4 85*8
9634 ...
05*4 N o v ’OC
95*4 90 *3
94**# ...
y5*s D e c’ 09
89
95*8
80 . . .
88 *3 O ct ’ 09
88*3 91
110 U a r ’ 05
100*8_____ io o * » i u o v
2 9 6 *4' 100*9
111 ......... 116 S e p ’ool ...l|l 12*9 115
10878 U 0
109
109
2 3 '!l0 8 78 1 12
111 S e p ’ 09! ...'H O - * 111*8
1s o *9 80*4 D e o ’ ODi ,..J| 80
90*4
87 °g bale
87 *3
88
3,| 87
91
102
107 *3 A p r ’00
98 D e c ’00 ** ji]* ’ *‘ * " " " " "
m "*9
122
122*9 T 6 ilO V 126"
117 118*a 11734 O ct ’00 ___ 1117
118
88 ...
90
90
31 80*3 91
111*4 11234 O c t ’ 09 ....'1 1 2 * 3 H 2 7i
75 !' iy’ 08
" 9*6" 101
jv’04
108*4 110*4 108^i 108*8
2 108*8 112*4
108*3111 111
111 | 1 110 113*8
116 . . . . 110*9 M ay’ 0 7 ............................ !
108 . . . . 117*4 Mar’05'...........................
108 . . . . 113 J ’l y ’ 04
94 Sale
88*4 Halo
101*3........
......... 84
94
88
102
84
94*8 142 9 2 7g 96
88*4
3 86
89
A u g ’ 09 . . . . 102 103
84 I 2 , 80
85
BONUS
N. Y. STOCK E X C H A N G E
W eek E nding D ec 17
■«
P rice
t r ia a v
Dec 17
W eek's
R ange or
Last Nate
R an ge
Nince .
J a n u a r y J.
B In
ASS. Low
H igli
N Y B k ln A M an Bell Nee L 1
L ow H ig h
92 Sale
91*8
92
V Y C en t A H R i v g 3*33.1997 J - J
00*4 94Q
90*4 80*8 O ct ’ 09
R e g iste re d .......................1997 J -J
b8 *s 93*4
D eben g 4 s .........................1934 M-N ‘ 95*8 Sale
05*3
05*4
03*8 90*3
80*» .-'Ule
80*4
8t
Lake S hore c o ll g 3 *38...1 9 9 8 F-A
80*4 85*4
80 Sale
80
80
R e g iste re d .......................199.S F-A
78*4 84*3
80*4
80*4
80*3
M ich C en t coll g 3 *3S___ 1998 F-A
80
84*4
82*3 J ’ n e ’09
R e g is te re d .......................1998 F-A
82
82 *3
100 N o v ’ Osi
Beech C r e e k l s t g u g 4 s . l 9 3 6 J - J i b o " !
100 lOO**
102 M a i’04
R e g is te re d .......................1930 J - J 101 .
107 .
2d gu gold 6 s ................. 1930 J - J
B e e ch C r E x t l s t g 3*3 8 61951 A-O
84*3.
C a r t * A d 1st g u g 4 s .. .1981 J-O
97*3 A p r ’ 00
97*3 97*a
G ou v & O sw e 1st gu g 5s 1942 J -D
9 9 7|
100
100
Moll * M ai 1st g u g 4 s ..1991 M-S
100 100*4
105 O ct ’02
N J J u n o R g u 1st 4 s . .. 1980 F-A 100
91
96*4 O ct ’ Os
N Y * H arlem g 3 *33...2 0 0 0 M-N
i'0'8 " i b a ”
N Y * N o rth 1st g 5 s ...1 9 2 7 A -O 108 112*3 108 O ct ’ 09
99*3 100 0ep *08
N Y * Pu l s t c o n g u g 4 s 1993 A-O
N o r & M o n t 1st g u g 53.1916 A O
Pine C reek r e g guar Os.1932 J -D 124 130*3!l31*3 J an ’09
131*3131*3
R W & o con l s t e x t 5 3 .A 1 9 2 ‘2 A -O 108Q UO 1108*4 D e c’00
108*4 111
O sw e & R 2d g u g 5 s ...e l9 1 5 F -A ........ lOS'o'lUS J a n ’08
R W * O T It 1st g u g 5 s .1918 M-N ......... 100*41..........................
R utland 1st co n g 4 * 2 S ..1 9 4 1 J - J 1 0 l 7g 102*3' 99 *3 N o v ’ oy
09*3 99*3
90 •„ Sale
90*8
90*8
y o *8 93*3
O g& LCliani l s t g u 4 s g l9 4 8 J -J
80
91*a 02 J ’n e ’O'J
90*4 92
Rut-C auad 1 st g u g 4 s . 1949 J -J
116 116
St L a w * A d ir 1st g 5 s. 1990 J -J .......................115 J ’n o’ 09
2d gold Os.........................1996 A-O .......................125 F o b ’ 08
U t i c a * B l k R i v g u g 4 s .l 9 2 2 J -J 102 .......... 103*4 F e b ’ 08
91*3
9 1 7s 01*4
92
01
95*«
L a k e S h ore g o ld 3*38. . . . 1997 J-D
90*4
01
I 0 0 *3 O c t ’ 0 9
90 *a 94*3
R e g is te r e d ................... 1997 J-D
94'*g
9 5 V 94*4
95
04 *5 07
D e b e n tu re g 4 s ............. 1928 M-S
94*4
M ale I 0 4
04*4
25-year g 4 s ..................1931 M-N
03
9714
K a A * G R 1st g u 0 5s. 1938 J - J 112*4
M ahon C ’l R R 1st 5 S ..1 9 3 4 1J -J 112*3 110 1109 O ct >07
.....................
IlOO
D
e
o
’
09
100 100
Pitts * L E rie 2d g 6 s .« 1 9 2 s A-O
130* s 130*3
P itts M c K * Y 1st gu 6s. 1932 J -J 127 ......... '130*3 Jan ’ 09
2 d gu ar 0» ........................ 1934 J -J 124 ......... '....................
M o k e e s * B V l s t g 6s 1918 J -J
Feb 09 . . . . 101 101
101
M ich C en t 1st co n so l Os. 1909 M-S
5 s ........................................ 1931 M-S 112*8 . . . . . . 115 Oct ’00 . . . . 115 115
112 ........ 1 1 0
J’ ne’00 •...
R e g is te r e d ..................19311Q-M
08*4
98*4 Oct '09 •••• 08*4 100*4
4 s ........................................ 1940 J -J
. . . . . . ......... 03 D eo’09 . . . . 98
98
R e g is te re d .................. 1940, J -J
. . . . . . . . 00 J ’ne 08 . . . .
J L & S 1st g 8 *3S........ 1951 M-S
89
90
89 D e o '09
89
93*3
1st g 3 *33 ........................ 1952. M-N
03*4 8 01*3 95*4
02*4 93 H, 03
2 0 -y e a rd e b 4 s .............. 1 9 2 9 .A-O
B a t c * S ta r l s t g u g 3 s . 1989! J -D
20 00 *a 102*4
0978 1 00
09*4 100
N Y O h io * St L 1st g 4 s 1937 A-O
100
1 100 100»a
100*4 101)
R e g is te r e d ...................... 19371 A-O r
91*3' 01*a S ep ’ 09
91*8 04
D eben tu res 4 s ............... 1931 M-N
W e s t S h ore 1st 4s g u . . . 2301 J -J 101 102*3 102*4 102*8 15 101 104*3
0 LOO 103%
100*3
R e g is te r e d ...................... 2361 J -J 100 100*3 100
G re e n w L a k e Nee E rie
N Y * l i a r Nee N Y O * H ud
N Y L a ck * W S e e D L * w
N Y L E * W See E rie
N Y * L o n g B r Nee C en t o f N J
N Y N H * H —C on v O s ..1948 J - J 134*3135*4 134*3 I35*e 225 133 146
00 7« 103 230, 97*811114
C o n v de b e n 3*a8..............1956 J - J 102 dole
H o u sa to n lo R c o n g 6s . . 1937 M-N 1 14 *4....... 118*3 Deo*08
107 A u g ’00
N H * D e rb y co n o y 5 s .l9 1 8 M-N
io fio T *
N Y * N o rth Nee N Y O * H
96*4 67*8 90*3
97*« 13 06*8 99*4
N Y O & W r e f l s t g 4 s ..ffl9 9 2 M-S
.....................101*3 J ’ n o’ OO
R e g is 65,000 o n ly ......... »1992 M-S
N Y * P u t Nee N Y C & H
N Y & R B Nee L o n g Island
N Y S * W
Nee E rie
N Y T e x & M Nee 80 P ao Co
101 104
N o r * S outh 1st g 6s ......... 1 94 1------ - 101 ........101 Oct ’00
120*4 128
N o rf & W e s t g e n g Os........1931 M-N 124*3........ 125 O ct'09
125 129
Im p ro v e m ’ t * e x t g Os..1934' F-A 124*3 124»» 126*4 N ov ’ 09
126 '128*3 J’ n e ’09
127 128*3
N e w R iv e r 1st g Os........1932 A-O
98
98*3
08*3 Hale
98 100*3
N & W R y 1st co n g 4 s .1990 A-O
97 J ’l y ’ 09
07
07
R e g is te r e d .......................1990 A-O ......... 09
02*4
92*4 12 91
06
02 *4 ........
D lv ’l 1st 1* g e n g 4 s . . . 1944' J - J
102*4 Hale 102
102*4 602 93 **103 *8
10-25 year c o n v 4 s ___ 1932 J-U
1 89*4 03
89*4
89
89*4 89*4
P o ca h C & C Joint 4 s .. 1941 J -D
o V
I**
K 5 s ......... 1922 J - J
95
4 95
05
00*4 05
S°iO V & N E 1st g u g 4s 1989 M-N
08*3
N o rth Illin o is Nee Chi * N W|
N o rth O hio See L E rie * W |
64
102
7
#
102
N o r P ac—P r io r Hen g 4 s ..1997 Q J 102 V Sale
101*3 104
R e g is te r e d .......................1907 Q. j 102
102 D e o '09
101 103
73
■47 71*4 76
G eneral Hen g old 3 s ___ a2047 Q-Fi
73 Sale 1 72*4
1
.
.
.
.
.
.
N
o
v
’OO
.
.
.
.
71
R e g is t e r e d ...................a2047 Q -F
70
74*4
S t P a u l-D u l D iv g 4 s . . ..1 9 9 0 J -D
98 | 00 D e c ’00 . . . . 95*8 07 »8
D u l S h ort L 1st g u 5 s . .1 9 1 6 M-S
C B * cj coU tr 4s Nee Gt N or
S t P * N 1* gou g Os___ 1923 F-A 117*4 120 l l 7 7gNov'O0
11778 121
R eg iste re d c e r tillc ’s .. l 9 2 3 Q-F .....................119 u e t ’ 0.i
|il5 120*8
St P a u l * D ul 1st 5s___ 1931 F -A
112*3......... 117*4 J ’ l y '97
2d 5 s ................................. 1917 A-O 104*3........ 1U4 Sep ’00
l b T " ib i* 4
........ 9a >3 US O c t ’09
1st c o n so l g o ld 4 s ......... 1908 J-D
07 *u 90
y 2 ......... 02 *3 J a i l ’00
W
./aash
sh C
Cent
en t 1st g 4 a ......... 1048
1948 Q-M
02*3 02*3
110*4 110*3
N or P ao
a c T eo r Co 1st g Os.. 1933 JJ-J 111*3........ 113 D eo’UU
N o r R y Cal Nee So Pac
N or W is Nee O S t P M & o
N o r & M on t Nee N Y' Ceu t
ln d <S> W See 0 C C A a t L
h io R iv R R See Halt <fc o
O re & Cal S ee So Pao Co
Oro S h ort L in e See Un Pao
O sw ego <& R om e See N Y O
110 H O T N o v ’OO
108*3 112
Coast Co l s t g 5 s . . . . 1940 J-D
F ao
ao o f M issou ri Nee M o P ao
1
103 105
Penn R R 1st real e s t g 4 s ,1 9 2 3 M-N, >103*4........... 104 D e o ’ 09
C onsol g o ld 5 s ............................ 1910 M-S
109 *3......... 1 u9>3 Jan ’ 09
109*3 109*3
100
103 N o v ’OU
C onsol gold 4 s ............................ 1943 M-N
101 104*8
100*3 Halo 100*8 100
C o n v e rtib le g 3*33..................... 1912 M-N
97*3 100*4
C o n v e rtib le g 3 *33..................... 1015 J -D90 bale 1 00
00*3
04*4 190
C onsol gold 4 s .......................... 1948 M-N
101*4 bale 104*8 101*4
103*4 105*4
A ile g V a lg e n gu g 4 s . .. 1942 M-S 102*3......... 99 J ’ uo’ u7
D R R U & B g o 1st g u 4s g . ’ 30 F-A
00 .....................
103*8 1 04
P liila B al & W l s t g 4 s ..1 9 4 3 M-N 1 03 *4......... 1U3*8 D e c ’ 09
Sod B a y A So 1st g o s .. .10 2 4 J -J 100 ......... 102
JUU ’ 03
i o i " iu o*f
U N J R R & Can geu 43.1044 M-S I 103*4 104*4 100*a J ’ly ’ 09
I
O
I B I S C E L L 4 N E O U S B O N D S — C o n tin u e d o n N e x t R a g e
C oa l an d Iro n
Coi 4 * i c o g e n s t g 6 s ..1943
C on v ertib le d eb g 5 s ___ 1911
C o l l n d u l s t * c o ll o s g u . .l 0 3 4
C ontin’ t a l C l s t s f g u 6 s g . l 9 5 2
Br R iv Coal & C l s t g Os..1919
J e f f * C lea rC & I l s t g 6s . 1026
K an <£5I I C & V 1st s f g os. 1901
P oca h C on C ollier l s t s i 5s.’ 5 ?
S un day C r eex Co g 5 s . ...1 0 4 4
V en n Coal g e u 6s ........... 1951
l ’en n D iv 1st g 6s .......«1917
B irm D iv 1st con sol Os.. 1017
Cah U M C o 1st g u g Os. 1022
1)0 B ar C A I C o g u g Os. 1919
V ic to r F u el 1st s 1 6s ......... 1053
V a lr o u Coal A C o l s t g 5 s .1949
J-D
M-S
F-A
F-A
F-A
F-A
A-O
J-D
J -J
J-J
J J
J -J
A-O
J-J
J-D
F-A
J -J
M-S
04
97
.........
84*3
97*4
08
97*3
84*4
"05*4 100
08 .........
......... 88
103 *8 103 *•.
......... 109*4
......... 107
100 .........
.........
09
87
99*3
99 *3 N o v ’ OO
90 O ct ’ 09
07 7s D e o ’ 09
87 *4 J ’ly ’ 09
83 *9
83 S
10708 D e c ’ 04
I02°g A p r ’ OH . . . .
1.07 Muy’97
105*3 D e o ’ 00
88 Sep ’ 09 ___
73 F o b ’07
103*» 103*, “ 7
108 A u g ’09 . . . .
1011 N o v '00 ___
110 J a n ’Ol- ___
tOS N o v ’ OH
87 A u g ’ 00
99 D c c ’ 09
T e l e g r a p h a n d T e le p h o n e
A m T o le p & T e l coU tr 4s 1929
100
97*4
100*4 M ic h S ta to T e le p 1st 5 s . .1924
87 *s P ac T e l & T e l is t 6s ......... 193?
85
W est U nion col tr c u r 5 s .1938
Fd and real est g 4*33. . . 1050
C o n v 4s, S eries A ........... 1930
M u t U u T e l s fund O s...191 1
M n iiu la c tiir in g «v in d iu a rlu i
80* * *8*0 " AH is-U halm ors 1st 6 s ........1931
A m A g Clieiu 1st c Os........11128
101*3 101
Am C ot G il o x t 4 *3S........... 1916
100*4 109
Am H id e A L 1st s f g 6s ..lS iH
100 103
A n ier I c e s e c u r deb g Os.. 1925
110 110
Am S pirits M fg 1st g 0 s . . l 0 1 i
A m T n read 1st c o l t r 4 s ., 1 9 l ! '
- -y y
*8*7"
A m T o b a c co 40-yr g Os___ 1941
95 100
4s............................................ 1951
98
98
94
87
71
' X o p rice Friday; latest bid an 1 asked. a D n e J a n 6 D u e F eb e D u e .la r d D uo A pe .'i D uo ; ly . i> 1, Cug
J -J
M-S
F-A
J -J
J-J
M-N
M-N
M-N
01*4 93
105*8 Sale
9 8 * 3 .........
09*3 Sale
99 78 lu o *4
00*4 Hale
102*3 102*4
....................
4
92*5
92*3
10478 1067f 036
09 N o v ’ uo
00*8
09*4 6.'
100
100
14
00
UO*,
102
102*5
100 M ar’ 09
91*8 06
92*8 107*3
08 100
U0*3 1 9 -4
08*3 102 >3
03 *4 90*4
84
102*3
05 100
85 7a Slllb
84*4
1 -J
85 7e i 37 80
33*4
i 96 103 *3
A-O 101 t j ......... 101V 102
081
90
98*4
08*3 Hale
08
G-1‘
4
90*4 103*3
il-S 101*5 102
101*4 102
80
07
70
78*.. 70
A-O
71
95*3 100
\i-S
90
07
9 0 7g N o v ’O
J-J
......... 93
.10*8 03
93 N o v ’O
106'
- d l ’v 112*3
1 -0 100 Salo 100
/•l
31
78*1 1
j’ -A
73 Sait
77*4
o v iu o u c t » O ne X o v o r m e u e o *<
D eo . 18 1909. j
BOND*
N. T . S T O C K E X O H A fJHF,
W eek B v n iv u D ec 17
P en n Co—G uar 1st p 4 4 s . 192! J -J
R e g is te r e d ......................101! 1 ,1-J
G nar 3 4 s coll trust r e g . 1037 M-S
G u a r3 4 s c o ll tr ser B ...1 9 4 1 F A
T r Co c e r tif’s g u g 3 4 8 .1 9 1 0 M-N
G u 3 4 s tr rtfs C ............... 1012 .1 -D
G a 3 4 s tr c tfs I>............... 1044 .1 -D
G uar 15-25 yea r g 4 s ___ 1031 A 0
Cl it M ar 1st gu g 4 4 s . . 1930 ivl-N
C l & P gen gu g 4 4 s sor A - '42 J-J
S eries B ............................1042 A O
S eries C 3 4 s ................... 104s M-N
S eries 1) 3*38................... 1050 K-A
E rie it P itts gu g 3 *38 U- t o 4o J J
S eries C ............................1340 ,! - J
G r R A I ex 1st gu p 4 4 » 1041 J -J
P itts F t W A C 1st 7 s . ..1 0 1 2 J -J
2 (17s................................... 1012 J -J
3d 7 s ............................... '*101* A -O
Pitts Y A Asli 1st con 6s. 102 < M-N
P C C A St LgU 4*38 A . . .1 0 4 0 A O
S ories B g u a r................. 1942 A*U
S eries C g u a r................. 1J42 M-N
S ories 1) 48 gu a r............1945 M-N
G enes E 3 4 guar g ------1949 F-A
S eries F 4s g u a r .......... 195c J -D
c S t E A P 1st con g 5 s. 1932 A-O
Pen sacola A A tl bee E A A ash
Peo A E ast bee C C C As St E
Peo A l ’ok Uu 1st g Os___ 1921
2d gold 4*33...................... 61921
P ero A la rq —Cli A W i l Os 1021 J-D
F lin t A P i l g Os................1920 A-O
1st con sol gold 5 s ...........1939 M-N
P t H uron l)iv 1st g o s. 1939 A-O
S u g T u s A 11 l s t g u g 4 s . 1931 F-A
Phil 11 A W bee P en n It It
P h ilip p in e R y 1st 30-yr s 14s’ 37 J -J
Pitts Cm A SI Ij See Penn Co
Pitts C love A T o l bee B A G
P itts Ft W it Cli bee P en n Co
Pitts M c K e e s A Y bee N Y Con
Pitts Sli it I j E 1st g 6 S ...1 9 4 0 A-O
1st con sol gold 5 s ..............1043 J -J
P itts it W est bee 11 it o
n ending Co gen g 4 s ........1997 J-J
* V R eg istered .......................1997 J J
J e rs e y C en t coll g 4 s . ..1 9 5 1 A O
Pliilacfc Head cons 7 s . ..1 9 1 1 J.D
Konssolaei' it Sar bee D A D
tlich ct D an bee South Hy
Rich it M eek bee S outhern
llio G r W est bee D en it ltio Gr
tlocli it P itts bee 1 ) 1 1 4 1 ’
Koine W at i t O g bee is' Y Cont
Rutland bee jN Y C ont
. tag 'Pus it 11 bee P ere Marn
O t j o it O r Isl 1st g 4 s ...1 9 4 7 J -J
St E i t C airo bee i l o b it Ohio
St Jj it ir o n M ou n t bee M P
St Ii i l B r bee T l t lt A o f St E
St E ouls it S F — l e u g O s.1931 J
G eneral gold 5a................. 1931 J
St E A S P K it con s g 4 s .. ’ 90 J -J
G en 15-20 yr Os ...........1927 M-N
Boutliw D iv 1st g o s . .1947 A O
R efu n d in g g 4 s ..............105 L J -J
K U F t S it i l C on g Os.. 1923 M-N
K U F t S it i l R y rot g 4s 1930 A-O
K O it i l It A B 1st g u 5s. 1929 A-O
O z’rk A Cli U ls t g u S s g.1913 A-O
St E ou is So See Illin o is Cent
St E S W 1st g 4 s bit c t f s . 1089 M-N
2d g 4s tno bond c t fa ...p l 9 8 9 J -J
C on sol gold 4 s................... 1932 J-D
U ra y 's P t T o r l s t g u g 5s 1947 J-D
St I’ aul it D ul bee N o r PaeUie
S t P M in n it i f a n bee G t N or
ot P it N o r Pao bee N o r Pao
3 t P it S’x City bee C S t P i l <to
S A i t A P a 8 a l s t g u g 4 s . . . l 0 4 3 J -J
d F it N P 1st sin k I g 6 s . l u i 9 J J
dav F it W est bee A l l C oast E
Scioto V a li t N E bee N or it W
Seaboard A ir E in e g 4s ...1 9 5 0 A O
C oll tr refu n d g 5 s ......... 1911 M-N
A tl-B irm 3 0 -y r ls t g 4 s .e l9 3 3 M-S
Car C en t 1st con g 4 s . . .1949 J -J
Fla Ceu it P en 1st g 6s. 1918 J -J
1st laud g r e x t g Os . ..1 9 3 0 J-J
C on sol gold 6 s ............... 1943 J -J
Uu it A la B y l s t c o u 6 s o l9 4 5 J -J
G a Car i t N o l s t g u g 6 s l 9 2 9 J - J
s c a b it Uoa 1st 5 s ........... 1920 J -J
dhor S lit it So bee M K A X
d llS p O C a it U bee A tl Coast E
do Car Je G a bee Southern
Southern P a cillo Co—
G old 4a (C ent Pao c o ll ) .4:11)49 J -D
R e g is t e r e d ................... /cl949 J -D
20-year c o n v 4 s ......... </1929 M-S
Cent Pao 1st ref gu g 4 s 1949 F-A
i{o g is t o r o d ....J ............. 1949 F-A
i f o r t gu ar g old 3*38../cl929 J -D
T h rou gh S t E 1st g u 4s ’ 54 A-O
Gal l ia r Jj S A l s t g Us..1 9 1 0 K-A
i l e x A P a c 1st s 6 s
1931 M-N
Gila V U i t N l s t g u g d s . l ‘J24'M-N
llou a E it W T 1st g O s.1933 M-N
1st gu ar 6s r o d ........... 1933'M-N
1 it T C 1 st g 6s int g u .. 193/! J - J
Consol g Oa int g u a r...1 9 1 -j! A-O
G on gold 4s int g u a r .. 1921! A-O
W aco it N W d iv 1st g Gs ’ 3d M-N
A it N W 1st gu a 6 s . ...1 0 4 1 J -J
M organ ’ s Ea i t T 1st 7a. 1018 A y
1st gold Gs......................192Uj J - J
J'Tice
tV ld a v
Dec 17
iVeen »
R anye or
Last bale
R ange
Since
J a n u a ry 1
1585
4
N e w Y o r k B o n d R e c o rd — Concluded— Page
BONDS
N . Y. ST O C K E X C H A N G E
W eek lCxnixu d e c 17
P rice
f'r u le 'i
l)ee 17
Dujh A'O Dow /lui/x
Sill
/I Sh l,ou>
i 04 107
104 4 104 4 1 0 4 4 D c o ’ oO
103 D c c ’ ub
102 105
N o of Cat gu ar g 5 s .......... 1938 A-O
o r e it Cal 1st guar g 5s. 1927 J -J
S o P a c o lA r iz l s t g u g Gs.c’ lO J - J
90
>»0
10 89*4 91 4
on 1 Sale
b o P a c o f c m —Ga E A F .1 9 1 2 A-O
90*4 98
1st gold Gs.......................1912 A-O
97 *8......... 1)74 D e c ’ 09
90 A u g ’09
89*4 90
8 J ]8
1st con guar g 5 s .......... 1937 M-N
01 D e c '09 ___ 90 4 91
......... 91
8 P a c o f N i l e x 1st g G s ..l9 1 1 J-J
98 4 100
U8
08 4 0 8 4 N o v ’Oli
S o Pao C oast 1st gu 4s g . 1937 J - J
1 0 0 4 ......... 110 J a i l ’ 05
T e x itN O .8a b D iv ls t g G s .r J 12 M-S
110 4 110 4
1 0 7 4 ......... 1104 Jail M9
Cou gold 5 s............... ...1 9 4 3 J - J
109 4 109 4
107 4 ......... 1094 J ’l.v’ OO
0 Pac U ll 1st ret 4 s .......... 1955 J -J
93 A u g ’ 09
95
07
90
93
louthern—1st con g 5 s ___ 1991 J -J
95
95 4 90 May 08
R e g is te r e d ...............
19D4 J - J
U3 .........
D e ve lo p & ge n i s Ser A . 195G A-O
IJ3 .........
M ob it O hio co ll tr g 4 s .. 1938 M-S
102 4 103
104 4 Got ’ 09
1 01 4 104 4
M em D iv 1st g 4*3-5s ...1 9 9 G J -J
107 107
lO G 'g ......... 107 Get ’ 09
S t E ouis d iv 1st g 4 s ___ 1961 J -J
103 4 ......... 1 0 o 4 N o v ’01* ___ 100 4 n o
A la C on R 1st g Gs.......... 1918 J - J
107
Get
’08
1 0 5 4 .........
»••••• . . . . . .
A t l it D an v 1 st g 4 s .........1948 J - J
109 ......... 110 F e b ’ 09
no
no
2d 4 s ................................. 1<J48 J - J
108 ......... 107 4 J ’ ly ’ 09 ___ 1 0 7 4 1 0 9 4
A t l it Yad 1st g gu ar 4 s .1949 A-O
1 0 7 4 108 1 0 7 4 N o v ’ Os
U i7’ a 109
C ol A O re e n v 1st Os.........191G J -J
107 ......... 112 4 - ue’05
E T V a i t G a D iv g 5 s .. 1930 J - J
9 9 4 ......... 100 A u g ’09 . . . . lOo 102
Cou 1st gold 6s ..............I9 6 0 M-N
E T e n reor lion g 5 s........ 1938 M-S
9 3 4 9 1 4 9 3 4 N o v ’ 09
9 3 4 98
100 .........
G a M id lan d 1st 3 s........... 194G A-O
Ga P a c R y 1st g Os.......... 1922 J -J
I ll
......... 114 J ’l y ’ 09 . .. . 114 1 1 6 4
K n o x i t O hio 1st g G s... 1925 J - J
Mob i t B ir prior lien g 6 s 1945 J - J
l l f l A u g ’ 09 . . . . 110 116
M o rtg a g e gold 4 s .......... 1945 J - J
110 113
.Rich i t D an co n g Gs___ 1915 J -J
105 106
D e b dssta n ip e d ............. 1927 A-O
......... 1 0 6 4 105 A u g ’09
112 A u g ’09
112 115
R ich it M eek 1st g 4 s . . .1948 M-N
1 1 1 4 113
So Car it G a 1st g 5 s ___ 1919 M-N
106 1 0 9 4 10G 4 N o v ’ o9
10441094
V irg in ia M id sor C GS...191G, M-S
101 ......... 107 A u g ’09 . . . . 107 1 0 8 4
S eries D 4 -5s..................1921 M-S
Sories E 5 s.......................1920 M-S
93
95
G en eral 6s .......................1930 M-N
......... 9 1 4 93 M ay’ 09
G uar stam ped........... 1930 M-N
W O dfc W 1st c y g u 4 s ..1924 F-A
VVestN C 1st co n g G s.,1914 J -J
S it N A la bee L A N
115 D e o ’09
115 116*4 Spoltauo I n te r n a l l s t g 5s 1955 J - J
1 er A 01 S t e 1st g 4 *28..1 9 3 9 A-O
..................... 9 3 4 J ’l y ’ 97 . . . . .....................
X 1 st c o n g old 5 s ___ 1894-1944 F-A
99 4 Sale
G on re fu n d s I g a s ......... 1953 J -J
994
0 0 T* 104 9 8 4 1 0 1
......... 9s°g os*-) D e c ’Ou
97 4 100
S t E M B g e T e r gu g Os. 1930 A-O
93
98
og
98
i 96
98 4 T e x it N O bee So P a o Co
102 O ct ’ 09
102 102*4 T e x it P ao 1st gold 5 s........2000 J-D
2d gold ln o 6 s ................... o 2000 Mar
Ea D iv B E 1st g 5 s........1931 J - J
W M in W it N W 1st g u 5 s ’ 30 F -A
T o l <6 0 0 1st g 5 s ................1935 J - J
W estern D iv 1st g 6 s ...1 9 3 0 A -O
G en eral g old 5 s ................. 1935 J-D
K an A i f 1 st g u g 4 s . . . . 1990 A-O
T o l P it W 1st gold 4 s . ...1 9 1 7 J -J
97
96
06
8 92
T o l S t E it W p r u e n g 3 * a s .l9 2 5 J - J
......... 97
60-yoar gold 4 s ................. 1950 A-O
J -D
I s t o r i_____________
t D e l l s t c o u g O_______
s 1928J-D
1st r e fu n d g 4 s ..7 ___ 1952 A-O
1224 1244
1 3 1 4 1 2 4 4 1 2 3 4 S°P ’ 00
2 1 0 8 4 111
U u P a o H R it 1 gr g 4 s . ..1 9 4 7 J-J
1 0 8 4 ......... 1 0 8 4 f 3 8 4
R e g is te re d .......................1947 J - J
91
964
01
9 1 4 91*4 N o v ’ 00
2 0 - y r c o n v 4 s .....................1927 J -J
8 8 4 bale
914
884
Bal-* GOG 88
100*4......... 100 4 Aug'OU
1st & r e f 4 s ...................... 02008 M-S
1004101
85
85 *« 33 83 6s 89
85 Sale
O re R y it N a v c o n g 4S.194G J-D
O re S hort E ino I s t g G s .. 1922 F-A
1 1 7 4 ......... n 8 4 D c o ’ 02 ___ 1 1 6 4 1 2 0 4
83 Sait.
83
1st co n so l g 6 s ............... 1940 J •J
21 82
82*4
SO
100 .........
G uar r e fu n d 4 s .............1929 J -D
97 D e c ’ 00
R e g is te r e d ...................1929 J -D
93*4 98
9 0 4 98
'
U tah it N o r gold 6S..192G J ‘ J
U ni N J R R it C Co See P a R R
0 3 4 9 3 4 03*4
33*4 10 91=8 95
85
84 ......... 84 D e c ’ 09 tr r 79
U tah Cen tral See R io G r W es
79*a
80
61 7 7 4 8 1 4 U t a h * N o rth See U n P a cific
79*4 Sale
U tica it B la ck R See N Y C ent
9 5 4 ......... 1 0 1 4 A p r '07
co n so l g 4 s
1955 F -A
V andalla
era C ruz A P l s t g n 4 4 s l 9 3 4 J-J
V e r Val Im l <t W See M o P
V t r g iu ia M id 6’ee Sou th R y
. _
8 7 4 bale
92*fe V a i t S o u th w ’ t 1s t g u 5 s .2003 J-J
87
8 7 4 62 87
08 ......... 104 O ct ’09
1st co n s 60-year 6s ......... 1958 A - 0
104 104
abash 1st gold 5 s ...........1939 M-N
2d g o ld 6s ................... 1939 F-A
D eb e n tu re s e r i e s B ........1939 J-J
8 4 4 D e o ’09
6 4 4 65
63 4 91
99 Hi Sale
1st lie n equ ip s f d g 6 s ..1921 M-8
994
994
8 9641004
. .. .. . ...
84 N o v ’ 09
1st lieu 50 yr g term 4 s .1904 J •J
84
86
91 ......... Ul*a
1 914 914
a ll«
100 ......... 107*4 A u g ’ 06
D e t it Ch E x t l s t g 6 s ..1941 J - J
D es M o lu D iv 1st g 4 s ..1939 J -J
09 ......... i o f i i i M ar’ 06
Om D iv 1st g 3 >as........... 1941 A-O
1 0 4 4 ......... 1 0 6 4 J ’ uo’ 09 . . . . 102 4 1 0 6 4
T o l A Ch D iv 1st g 4 s . ..1 9 4 1 M -b
1 0 4 4 ......... 104 N o v ’01) . . . . 104 106
W a b P itts T e rm 1st g 4 s . 1964 J-D
106 4 ......... 1 0 7 4 J ’ n o’OD . . . . 1 0 6 4 107*4
T r u s t C o c e r tfs .........................
2d gold 4 s .......................... 1964 J-D
T r u s t Co c e r tts ......................
W arren bee D ei Eac i t W est
W ash C en t Nee N o r P ao
904
3 2 4 CO 90
9 5 4 W ash O it W b ee S outhern
9 2 4 s* ie
s . . 1945
80 ......... 0;fa4 A u g ’OU
85
9 3 4 W ash T e r m ! 1st g u 3 4_______
0 fa
W e s t M a r y ia u d ls t g 4 s . ..1 9 6 2 A -O
1 u4-4 2701 9 7 4 1 0 7
1 0 4 4 Sale 103
G eu it c o n v g 4 s .............. 1952 A-O
9G 90 4 9 8 4
9 3 4 Sale
UG4
97
UG4 Sop ’ 09
T r u s t Co c c r t f s .......................
06
97-4
90 Sale
10 88 4 93*4
W Va C ou t i t P 1st g Gs 1911 J -J
8 6 *a
90
00 4 96
U1
02*4 0134 D e o ’09
W e s t N Y A P a l s t g 6 s . . 1937 J-J
1 0 1 4 10 1 4
G eu g o ld 4 s........................ 1943 A-O
90 4 ......... 101*4 A p r '09
lu c o n io o s ........................ (fl9 4 3 Nov
107 109 1 1 1 4 A p r ’ 09 . . . . 110 112
J 0 4 4 W est N o Car Nee South R y
103 4 ......... 10-14 bep ’ 09 . . . . '1 0 4
104 ......... 100 *i May'oU . . . JI103 105*4 W iieei’ g i t E E 1st g 6 s . . .19 2 0 A -O
__ 103 4 1 0 1 4
W heel D iv 1st gold 5 s ..1928 J -J
i 03 105
104 4 J,1y ’ 99
E x t e i i it Im p g o ld 6 a ...1 9 3 0 F-A
no
......... 110 D e o ’09 ___ 1 0 9 4 1 1 0 4
R
R ls t c o u s o l 4 s ...............1949 M-S
109
4
N
ov
’
09
109
4
1
0
9
4
109*4.........
20-year equip s f 6s ...1 9 2 2 J -J
96
95
60 93
9 3 4 0 3 4 93 4
W ilk es it E a st bee E rie
n o
no
110 Dcc'OG
104 ......... 107 4 Jan -ot * * 1 0 7 4 1 0 7 4 W il i t S io u x F bee St P M A M
W is C en t 60-yr 1st gen 4s 1949 J -J
1 1 0 4 120 122 *8 A u g ’Oi ...
S u p it D u l d i n t term 1st 4s’ 3G M-N
______
113 ......... 110 N o v ’ 01
II..........
Weeic’s
R ange or
Last s a fe
2V
R ange
s in c e
J a n u a ry 1
Dow
H ign S o Dow H ie fi
112 F e b ’(iv
104 M artiO
104 104
101 4 j a u ’ u9 . . . . 1 0 1 4 1 0 1 4
1 0 1 4 J ’ n e’08 . . . .
114 4 D e o ’ 04 ___ . .. .
116 -UaV’ 07 ..... .............. ......
104 A pt ’ On . . . .
90 J ’l y '09
88 4 92
103 G et ’09 ___ J 102*8 103
102 N o v u 9
102 102
914
9 4 4 118 93 4 y « 4
111
1 1 1 4 13 106 1 1 3 4
110 M ay’OU
109 1 1 0 4
85
814
8 1 4 36a 7 6
81*4 Sale
10 8 5 4 9 0 4
90
83 Hi......... 89 4
2 110 1 1 3 4
no
108 110 n o
3 86
91
80** Sale
864
804
lu s H i....... . 108 S e p ’ 08
9 2 4 Get ’09
924 924
.......... 87*4 92 J ’ n e’o o . . . . ...................
85 .........
109 1 1 0 4
104>a......... 109 J ’ ne’09
n o
1 1 H4 110*s N o v ’ 09 . . . . 10*j 34 1 1 1 4
3 1104 U 4 4
112*4
112 112*8 1 1 2 4
100 . . . .
107 A p r ’ UJ
105 107
04
G7
65 N b v ’ 09
64
68
113 117
113*» 116*4 113 D e c ’ U9
......... 110*4 118*4 May’ UO ___ 1 1 8 4 1 1 8 4
105*4........ 115*8 A p r ’06
75 .........
1 0 4 4 ........ 107 4 N ov ’09
1074111
1040b 108S( L064 10 0 4
7 1 0 6 4 107
70 ......... 75 O ct ’08
103 .......... 102*4 102 4
5 1 0 1 4 1’03*8
i > i ( ............
107*4......... 112 O c t ’ 06
108*4......... 1 0 8 4 <*ec’ 06
109 J ’l y ’ 09
109 109
107*4 107 34 107*8 D e c ’ 09 ___ 107 1 1 0 4
100 Hi......... 1 0 9 4 M a i’ 09 . . .. 1 0 7 4 1 0 9 4
90 ......... 96 4 Jan ’ 07
10434 ......... 107 O c t ’ 09 . . . . 107 1 0 9 4
fill!
A i.i
95 .........
1 03 1*.........
1 0 0 ‘4 .........
102 .........
U9*«.........
105 .........
93 *s.........
83 .........
103 104
100 .........
94*4 Sale
1 1 0 Hi 111 Hj
u
W
104 10634
105 4 1 0 8
116 .........
......... 98
109 .........
100*4 Sep ’ 09
10078 N ov ’ 09
1 1 0 4 O ct ’09
97 4
97 4 11
109 D o c ’ OU . . . .
111
112
3
83 N o v ’09
103 Sep ’09
106 4 N ov’ 04
110 4 N o v ’o 0
......... I l l
112 b e p ’ 09 __
107 H i l l )
2
101
101
101 102
9 1 4 D e c ’09
......... 93
92°s D e c ’ 09 ___
92*4 94
i
......... 89*H> 8 9 4
89*8
79*4
80 4
V
80 Hi Sale
90 ........
91*« A p r ’ 09
100 ........ 1 0 6 4 1 0 6 4
2
86 O ct ’ 09
8 0 4 ........
102 Sals 102
1 0 2 4 128
101 1 0 2 4 102 N o v ’ OU . . . .
1 1 0 4 Sale 116*4 116*4 908
98 Sale
90
974
98
97 4
7
97
97 34 97 4
......... 1 1 7 4 1 1 7 4 1 1 7 4 30
113 ........ 1 1 2 4 U S
3
9 3 7* Sale
33
93 4
94
94 J a n ’ 09 tttf
99*8 A u g ’09 « ...
1074.
......... 112
70
85
100 ........
984
98
96
106*4
106 4
115
96
109
1064
109
117
93
1104
ill
06
103
119
75
105
11041124
112 112
101 106
9 1 4 95
83 4 914
89*8 91*8
79*8 8 8 4
91*4 01*4
105 4 1 0 8 4
83
89
1 0 1 4 1 0 1 *4
100*4 103
102 1 2 4 4
93*4 100
97 4 9 9 4
117 4 120 4
1124118
92*4 93 4
94
94
9941004
N o v ’ 08
O ct ’ 09 . . . .
96
96
110 O ct '09
110 1 1 7 4
99 N o v V 9
97 4 100
63 1 1 1 4 1 1 4 4
1114
U2
10178 102 4 59 101 105
l o o D e c '09
83
101
102 4 M ay’09
102 4 1 0 2 4
87 M ay’09
87
87 4
76
VC5» ii05 71*4 8 0 4
7 0 4 Sale
107 h i ......... 110*4 A u g’ 09
108 1 1 1 4
85
88
83
83
1 384 914
7b 4 D c o ’ 09 ___ 7 3 4 80
70
77
87 4 D e c ’ 09
83
90
87 4 9 1 4
................
48 4 D e c ’ 09
42
554
49 4 98 41*4 65*4
......... 4 9 4 48 4
9 4 D eo '09
1
144
......... 10
9
9*4 15
7 4 144
9
104
110
99
111*4 Sale
102*, Sale
100
9 8 34 101
924
84 4
70
73* *73*4 38
10U 4
" " ! * iio * 4 n o
91
90
92
34
85 4 dale
J ’n c ’ 09
92 4 93*4
S3 230 52*s 88
70
734
l 01
74 519 62
73
N o v ’ 09
1 0 0 4 102
no
2 110 117
O ct ’ OG
87
95*8
F e b ’07
105
1054
95 J ’i y ’ oa
105 4 D e c ’Os
87
85 4 * 8 7 4 87
9 J ......... 99 D e c ’ 08
9 4 4 Salo
93 bale
01*4
92
105*a Sale
105
105
084
944
03
7 105
2
20
73
109
83
90
894
92
9 6 7a
93
OLlSCEEliAKEOUS BONUS—Concluded.
.iln n iifu c tiir in g & In d iistrin l
A rm ou r it Co l s t r e a l o s t 4 4 s ’ 39 J-D
Belli Steel 1st e x t s i 5 s .. 1920 J-J
C ent Leath er 20-year g 5a. 1925 A-O
C orn P rod lt c f s i g Os___1931 M-N
Ulatil s e c Cor c o n v 1st g 5 s .’ 27 A-O
G on E lectric deb g 3 4 s . .1942 F-A
1 0 - y r g ( lo b 5 s ....................1917 J-D
lu t P a por Co l s t c o u g G s.1918 F-A
C on sol c o u v s f ft 5 s ........1935 J -J
lu t S t P u m p 1st s f o s . ...1 9 2 9 M-3
Eackaw Steel 1st g 5 s — 1923 A-O
N Y A ir B rak e 1st c o n v Gs ’ 28 M-N
R o p u b lif c b l s t i t c o l t r 5 s . l 9 3 4 A-O
U niou B a g it P 1st sf OS..1930 J -J
J « E eath C o s f deb g G s ..l9 1 3 M-N
U S R ea lty it I c o n v dob g D s ’ 21 J -J
U S Red .t lier 1st a f g Cs.1931 J -J
U S R u b b e r lO -y r c o li ir O s .’ lfc J -D
9 4 4 Salo
8 J 4 Sale
9 8 4 Sule
07
994
74
76*4
......... 82
148 1 4 9 4
103 4 1 0 3 ’ ,
89 Sale
90
9G34
GO 4 Salo
112 4 Salo
102 » g .........
9 1 4 97
105 10G
90 Sale
......... 93
104-4 Sale
04*4 196 92*4 0 3 4
014
89 4
8 9 4 10 77
90 4
98*4
98*4 131 9 3 4 101
100 Nc
ro v ’ 09
95 100
74
75
73 7 3 4 7 8 7g
S3
83
1 80 84
148
1 133 105 4
148
103 4 1 0 3 4 10 101 1 0 3 4
81»7g
88
8 9 4 43 85
4 93*4 00*4
93 4
904
99
99°f 41 93
0U8a
114
5 108 113 4
112 4
4 93 102*6
1 0 2 4 1029U
90
1 91*4 98
105
105
5 10 4 4 103*6
Hu 4
90
15 84*4 92
02*4 Nro
( v ’ 09
89
95
104
104*8 66 1 0 2 4 103
■'No p rice Friday; latest bid anil asked this w eek,
a D uo Jan
0 D ue Feb
lU n n u fa ctu r in g & In d u s t r ia l
0 S Stool C orp — ( co u p .R19G3
St 10-00 yr 6s. ( r e g ..<21933
Va-Oar Chom 1st 15-yr 6s 1923
vVestlughouse E it M s t o s ’ 31
M is c e lla n e o u s
A dam s E x c o l tr g 4 s ..........1948
Bush T e rm in a l 1st 4s........1952
C on sol Os.............................1955
Ohio J c it t Y ard c o l g S s . 1915
D o tM A i l l d g r in c o m e s .. 1911
I n s t it fo r I r r ig W k s 1 4 s 1943
In t M crca u ifa r i u e 4 4 s . .1922
lilt N a v ig a tio n 1st s i 5 s .1929
N e w p N o Ship it D D 5s</1990
N Y Do<5k 60-yr l s t g 4 s .. 1951
P r o v id e n ce s e o deb 4 s ....1 9 5 7
P ro v id e n t E oan Soo 4 4 3 .1 9 2 1
S Y u ba W at Co c o n g G s ..l9 2 o
d D ue A p r
e D u o .M a r
M-N
M-N
J -D
J-J
M-S
A-O
J-J
J -J
A-O
M-N
A-O
F-A
J -J
F-A
M-N
M -S
J -J
g D u e .I 'n e
y8°a Sale
933« Saie
924
95 4
95 4
70 4
82*4
90
93 4
92*4
90
9G 4
Lois’ 100
37
95 4
70 4
bale
83 4 83 4
95
94
90
95
112
h D uo J ’ ly
105*4 522! 102 4 1 0 8
1 0 5 4 6U 1 0 1 4 1 0 8 4
Id 93*4 100
99
944 145 90 4 9 5 4
6
0 24
D e c ’ 09
O ct ’ 09
J a n ’ 08
D e o ’ u9
D e o ’ 09
71*. 69
D e c ’ Or
D e c ’ OV
6
94 4
J
....
J
J
p D uo N ov
92
90
914
94
934
934
37
38 4
92*4 95 4
3 8 4 77
s3 4 8 8 4
95
95
91
954
90
90
96
95
....... .........
sO n tion 8*1*
OHIOAG-O STOCK EXOKAYGrE-'Stook Record—Daily, Weekly and Yearly
STOCKS— HIGHEST A .\ D LOW EST SA LE PRICES.
Saturday
Dec 11
Monday
Dee 13
*Uo
*5
10!)
30
101*
*s
* 43.1
40
*76
18
54
17
*60
51
52%
107
*u2
*5
109
♦30*2
*10
*3
*434
*40
78
17
531?
*17
*60
*50
51
♦104
2
10
100
31
12
9
5
41
7S
17
54
18
03
52
523S
108
, 14!2
*841?
*214
*139
80
11034
*14113
14*2
14%
86
84U
____ +214
133 *130
7934
M*s
11034 1111*
142
143
29
67*?
*52
*1
*2
37*2
*135*2
____
*143*?
*117*2
____
30
68*2
54
1*8
3
37*?
136
____
____
118
126*4 127
81
83
*43
. __
*18
116
1201s
102*2
123
♦114*s
20
I I 6I4
120*2
1021?
123
11434
30
68**
*52
*1
*2
*36*2
130
____
>113*2
118
128*2
79*2
*43
*18
117
123*4
1021*
*123
*114*4
163*? 16912 156
12l*s 12Ur 127
111 11212 l l U i
*158
♦103
15
1812
162 +158
103*4 103
16
15*2
18*2 +17
2
10
1001$
30**
10*2
9
5
42
78
18
56*2
17
68
51
64*»
107
Tuesday
D ec 14
*llo
*5
100*4
30
lit*
*8
434
42
78
*161*
50
*17
*60
*50
523.4
>104
Wednesday
D ct 15
2
11*
10
6
101
101
30
31
14
I ll’s
9
*8
434
4‘s
42*.|
41
78
78
19
18*2
56
56*8
18
*17
68
*60
52
52
54*2
53
108 *104
116
102
32
147.8
0
5
411*
78
19
57
18
68
52*4
533.1
103
Thursday
Dec 10
Friday
Dec 17
*11o
2
*11*
2
*5
10
*0
10
103 1031* 105
103
321* 34
33*2
341o
17
17
+10
13
Last Sale 8
D ec’OG
43.
43.1
47«
4/p
40
41
32
37
78** 78** .+78
84
19
191*18*2 19
57
58*4
58*4
581o
*17
19
*17
18
Last Sale 70
Aug’09
*52
53
521*
821?
53*4 54
53
531108 108 *104
108
Sales
o f the
Week
Shares
12
2
110
581
277
_ 240
,.174
350
75
,647
100
*157
.610
45
Range since
Jan. 1 1909.
ST O C K S
C H IC A G O S T O C K
EXCHANGE
Highest
R a ilroads
C h icago C ity R y _____ 100
C h icago & Oak P a r k ..1 0 0
H o p re f .................1 0 0
Chic R y s part c t f “ 1” ___
Chic R y s part ett " 2 ” ___
C h ic R y s part c tf ” 3 ” ___
Chic R y s part c tf " 4 ” .
C h icago S u b w a y _____ 100
K ans C ity R y & I A ..1 0 0
H o p r e f ___________ 100
M e tro p o l W S E le v ___100
D o p r e f ___________ 100
N orth w estern E le v ___100
H o p r e f ___________ 100
South Side E le v a t e d .. 100
Streets W S table C L .1 0 0
Ho
p r e f___________ 100
M iscellaneous
1378
14
1,350 A m e rica n C an_______ 100
520
Ho
p r e f___________ 100
82VS 8.%
225*4 O ct’OO
A m erican R a d ia t o r .. 100
130
D ec’09
Ho
p r e f___________ 100
*78**
',91788 A m e r S h ip b u ild in g___100
+110
112
20
Do
p r e f___________ 100
425 A m e r T elep & T e le g _____
14.1, 1,27s
B o o th (A ) & C o_____100
Last Sale *4
June’09
Ho
p r e f___________ 100
3L34 32
32**
321* 3 312 33*2 36
37
37*2 1,306 B o o th Fisheries c o m ..
693.4 70
693.4 701*
70
73
74
2,010
71
73
H o p r e f____________ .____
64
*52
54
*52
*52
54
54
62
52
50 Cal <fc C h ic Canal A D .1 0 0
*1
Last Sale I
N ov’09
Chic Ilr c w ’g & M alt’g ____
**S *1
1*8
1*8
3
*2
3
*2
3
Last Sale 21*
N ov'09
D o p r e f_________________
37
332 C ldc P n eu m atic T o o l . 100
37*2 371*
38**
39
37*2 37** *371* 38
137
135 136
135 135 *135 136
200 C h icago T e le p h o n e __ 100
135*2 136
____
__ _
Last Sale 214
Mch’08
D o rig h ts_____________
145 115
143 143
144 144
" 185 Chic T itle & T r u s t__ 100
145
145
118
118*4 118*- 118*2 119
118*" 118*- 118*4 118*2
351 C o m m o n w ’ th- E d is o n .100
23
227s
2278
110 C orn P r o d R e f Co c o m ___
2312 231* *22
Ho
do
p r e f____
126*2 126 126
1251* 125** 125 125*4 125
1251*
*382 D iam on d M a tch _____ 100
86*2 78
83
80
85
79*8 801*
84*s
80*2 12,189 Illinois B r ic k _________ 100
. __ *43
____ *43
Last Sale 45
N ov’09
M asonic T e m p le _________
M llw & C ldc B rew in g____
20
*18
20
20
Last Sale 20
*18
N ov’09
H o p r e f_________________
11734 *117
118
1163s 118 *116*2 117*2 116*2 116**
530 N ational B is cu it______ 100
123G 124 124
12+1
123*2 1231* 123*? 1231* +.23
I )o p r e f____________100
117
105 *1021* 105
107 107*2 105 106
101
105
418 N ational C a rb o n ______ lOOj
123*8 *123 123*8 +123 123*8 *123 123*8 *123
123*8
25
H o p r e f____________ 100
11434 114*4 115
603 P e o p le ’s Gas L & C ok e_100
114*2 1141* *114 HU* 114*4 115%
11-10 Mch’09
H o rig h ts_____________
108
158 164
158*4 160% 159 16078 15734 159 12",147 S ea rs -R o e b u ck c o m . .1 0 0
1211* 121 121*8 *120 121
120 121
384
120*2 121
H o p r e f____________ 100
1121* 111 111*2 11034 IIU 4 11034 111*4 109
1093s 4,860 S w ift & C o ___________ 100
7
Feb'Oi)
H o rig h ts______________
102
160 160 *160
160 160
161
100 160
178 T h e Q uaker O ats C o . .1 0 0
103 +103 103*4 103 103 *102*2 103 *103
10314
H o p r e f____________ 100
55
U nit B o x Bd & P C o . 100
3"
Apr'09
Ho
fu ll p a id _________
73,
Apr'09
H o p r e f____________100
16**
I 5I4
1£38 11,156
15*2 16*2
15*4 157s
Do
fu ll p a id _________
15*8 15*4
181* *17
1812
18
18
30 W este rn S to n e _______ 100
1712
*16
17*2 *16
14%
14*2
85
84*2
____ *214
133 *130
89
79*2
111*2 *110
143
143*4
14">s
84*2
____
133
79*2
111
143*4
O h ic a g o
BON DS
C H IC A G O ST O C K
EXCHANGE
W eek ending D ec. 17
Interesl
Period
14*8
83
*214
+130
791*
111**
+142*2
141*
83
1438 14%
835s 83%
Last Sale
133
Last Salt
791*
79*8 7’..*s
111** *111 112
143 *141 142
B o n d
Rid
Ask
A m er S traw b’ d 1st 0 s . 1911 F - A _ _ A rm ou r A Co 4 M s___1939 .1 - D t 94*2 Sale
A u rora Elgin A C hlc 5.1941 A - O
Cal A So C ldc R y Co
1st M 5 s . . . .......... - .1 9 2 7 F - A t — - 102*8
Cass A v A F G (St I.) 5s T 2 J - J
Chic B oard of T ra d e 4 sl927 J - I) ____ ____
C h icago C ity R y 5 s . . . 1927 F - A 103*8 Sale
C ldc Consol B r A M lt 6s ___ J - J ____
Chic Consol T ra c 4 Ms 1939 J - 11
Chic A u d itoriu m Is t5 s l9 2 9 1+ - A
C ldc D ock Co 1st 4 S ..1 0 2 9 A - O
9334
Chic Je R R 1st M g 5 s . 1945 M - S t - —
Chic N o Shore E lec Os.1912 A - O
Chic P n e T ool 1st 5s.a 1921 J - J 181*2 85*2
Oldc R y 5 s . ................. .1 9 2 7 F - A 101*2 Sale
9538
C ldc R ys 4 - 5s series “ A ” A - (> t - —
Chic R y s 4-53 series " B ” .1 - 1) *85
85*2
Chic R y 3 4-5s series " C ” F - A t - - - - 921.,
Chic R y s coll 6s ___ 1013 E - A t*007s ____
C ldc R ys F u nd 6 s . .1913 F - A ____
Chic R y 3 Tern Ctfs 1st 5s
1101*8 Saie
Chic R I & 1> U R 4 s . . 2002 M - N
__
C ollat trust g 5s___ 1913 M - S
C ldc T elep h on e 5s____ 1923 J - 1) *103 103*4
C om m on w -E dIson 5s. 1 9 13 i*l - S 103
Sale
Chic Edison del) 6 s . 1913 J - J
1st g 5s____ J u ly 1926 A - O *100*8 10038
D ebenture 5s____ 1920 5 1 - S
C om m on w E lect 5s61943 31 - S t l 02U 103
J - D
K an C ity R y A L ight
Co 5 s _____ _________1913 M - N __ _
K iu c k ’ b ’ ker Ic e 1st 5s. 1928 A - 0
L a k e St El— 1st 5s___ 1928 J - J
841?
In co m e 5 s _________ 1925 Feb
M etr \V Side El—
1st 4 s ...........................1938 F - A *83*2 Sale
E x ten sion g 4s____ 1938 I - J ! . . .
81*2
9584 Sale
N orth W est El 1st 4 s . 1011 M - S
N o W G -L A Coke Co 5s’ 2S Q - M
O gden Ga3 5s________ 1945 31 - N
94*4 Sale
P ca rson s-T a ft 5s_____ 1016 r - D t 99*4
4 . 4 0 s .................................... At - S * 96
4.60s Series E ___________ M - N t 07
4.80s Series F ___________ M - N f 98*2 ____
I ’eo Gas L A C 1st 6 s. 1943 A - O
R efu n d in g g 5s____ 1947 M - S [103*2 Sale
C h ic Gas L A C 1st 5sl937 J - J 104*2 Sale
Consum Cas 1st 5s. 1036 J - I) *102IS
M u t’ l Fuel Gas Is t5 s l0 17 M - N * ------ 102
Sou th Side E lev 4 M s . 1924 J - J
Sale
94
S w ift A Co 1st g 5s___1914 J - J *100*4 100*2
U n ion El (L oop ) 5 s . .1 0 4 5 A - 0 t ------ 93
U n ion P a cific c o n v 4 s . 1 9 1 1 3V - N
U nited B o x B oard col 6s’ 2G
t 70
81
G eneral intge 6 s_______ I - .1 t ------ 80
W estern Stone Co 5 s . . 1900 A - O
Week's
Range or
Last Sale
Highest
180 M ch 8 190 F e b 3
4 J a n 22
11? O ct 22
15 Jan 22
5 O ct 21
97'3 D e c 7 11912 J ’ly 28
453.1 Jan 2
50 D e c 13
30 J a n 29
iui2 D e c 13
8 D ec 1
13i2 Jan
3*4 D e c 1 2 9i4Ja n 2
52 J ’ly 7
35 F e b 24
78 D e c 11
86*? M aylS
1518 Sep 13
1912 D e c 17
47 Jan 14
58I2 H oc 17
25 M ay 0
17 N o v l7
63 Jan 6 73 M ay 7
50 Jan 26
61 M ay 7
2914 A p r 13
54*? D e c 13
97 F e b 15 108 D e c 1
160 Jan
13s F eb
6i;: D ec
843_i J ’ ne
38 O ct
20 N o v
934 Sep
15 F eb
30 O ct
68 Sep
12I4 N o v
42 Jan
13*4 A u g
' 40 A u g
42 A u g
26*2 A p r
85 A p r
185 D ec
3*8 A u g
10 AU2
119 I OV
47 J ’n c
28 D ec
13*2 D ec
30*2 D ec
4 734 N o v
86*2 N ov
19 Jan
54 M ay
22 D ec
62*2 D ec
71 Jan
34 N ov
103 J ’nc
7?s J o n 30
7184 Jan 6
200 Jan 14
120 Jan 21
54's A p r 21
101 F e b 24
139 A u g 27
>8 J ’ nc 10
>4 M ay22
10 M ay 24
48 J 'n o l6
5P 4 J an 8
1 A p r 27
2is A p r 27
20 M ch 24
127 Jan 4
I 5I4 N o v l9
80 J ’ne 4
22514 O ct 29
132 J ’ ly 21
8U8 D ec 11
112 Sep 13
145 N ov20
1 Jan 2
5 Jan 5
3/12 D e c 17
74 D e c 7
68 A p r 10
1 A p r 27
2*2 N o y l s
3912 O ct 30
140 Sep 23
4 F eb
41i2 Jan
125 J an
110 A p r
37 M ch
91 Jan
103s N ov
70's D ec
200 D ec
128*4 N o v
63 N o v
104 N o v
U 7 ” ja n * I s
107 Jan 21
17>s F e b 25
70U M ch 25
117 Jan 9
38 Jan 26
43 J an 6
152 O ct 7
121!2 J ’ ly 1
251s A u g 3
8812 M aylO
13034 A u g 13
80U D e c 17
47 ' Sep 16
20 N o v 17
977s Jan 2
I I 8I4 F e b 15
82 Jan 14
110 Jan 15
102 Jan 5
12 F e b 25
55 Jan 5
101 Jan 5
100*2 Jan 9
6 F eb 5
119 J an 5
9812 J an 2
t.s F e b 19
2i | F e b 20
334 M ch 10
10i2 M ch 9
15 l-’ c b 16
21 J 'n e28
H 9I4 Sep 27
130 Sep 21
1071 ■» D e c l.
124 N o v lO
1197s A u g 16
1 M ch 20
109t > D e c 11
12184 O ct 20
1141.1 A u g 0
20 Jan 18
161 N o v 9
104lo N ovlO
l r>3 M ch 26
3is M ch 2
9*2 Jan 4
20 N o v 4
25 M ch 15
3
7S D ec
D ec
30
100
Jan
M ay
40 F eb
1 O ct
2 Nov20 D ec
106 Jan
34 F eb
100 Jan
80 Jan
57*1 D ec
1*8 A u g
4 Apr
30*2 A u g
153 Sep
234 Feb
116 D ec
110 O ct
113
30
38
137 A u g
42*2 D ec
46 «i’ly
Jan
Jan
J ’nc
19 J ’ne
70 Jan
IOM4 Jan
51 Mcll
01 M ch
80*2 Jan
20
97
120
87
115
106
J ’ ly
D ec
Aug
Dee
N ov
D ec
24 Jan
72 Jan
88*2 Jan
66 D ec
102 D ec
lOoJi Sep
11434 Jan
87 Jail
J ’ly
134 Jan
100 J ’ly
134 Jan
1*2 J ’ly
i i o i 'o c V
12
Jan
17 " A p r
Okie igj Banks and Trust Comp mies
R e c o r d
Price
Friday
Dec. 17
Range fo r Previous Year
(1908).
B ’ds
Sold
Range
fo r
Year 1909
High
Low
High No. Low
100 Mch’07
15
94*4
94*2
90*4 06'8
N AM E
Outstand
ing
Slock
t
Surplus
and
Profits
t
Dividend Record
In
1907
In
1903
Per
iod
Last Paid
%
An Deo '08, 6
C alum et N a tio n a l_____
$100,000
(339,008
6
6
Q hlcago C ity ____________
500,000
207,686
10
10
j - j July ’09, 5
Com m ercial N a t io n a l.. 7,000,000 3,382,172
Oct ’09, 2
C ontinental N a t io n a l.. 9,000,000 4,919,686
8
8
Q-J Jan 1910, 2*2
C ook Co S tate S a v in gs.
6
50.000
9,177
0
Q-M July ’09, 1*2
102 J'ne’09
102 102*? Corn E x ch an ge N ational 3,000,000 5,310,183
12
12
Q-J Jan '10, 4
IOU4 O ct’OS
101 101*4 D rexel S ta te ......................
6
A-O Oct ’09, 5
200,000
29,247
6
100 M ay’07 _ _
D ro v e rs ’ D ep N a tio n a l.
8
600,000
382,087
9*2 Q-J Oct '09, 2*2
15 10234 105
1031s
103*2
E n glew ood S ta te _______
200,000
0
32,093
6
Q-J Oct '09, 1*2
103
Apr’0 *
First N a tio n a l_________ 8,000,000 8,254,451
12
12
Q-M Sep3009, 4
50 A pr’09
50
60
First N at E n g le w o o d ___
150,000
10
Q-M Sep 30 09, 2*2
107,011
10
963., Jan’06
F orem an Bros B ’ k ’g C o . 1,000,000
563,618
Prlv ate Ba nk
F ort D e arborn N ational 1,000,000
377,987
8
8
Q-J Oct '09, 2
94*2 D ec’09
500,000
157,009
5
5
J-J July '09, 2*2
01*2 941? H am ilton N a tio n a l____
87
Feb’08
H ibernia)) B ’ k ’g A s s ’ n . . 1,500,000
837,615
8
8
Q-J Oct '09, 2
85
D ec’09 ____
72
132,458
200,000
10
10
85*s K asp ar S tate B a n k ____
J-J July '09, 5
54
101% i o n 407,2S9
10+ 2 Q-M Sep 30,09,2*?
1003s 10234 L ive S to ck E x c h ’g c N at 1,250,000
95
95
6
931? 96*4 M onroe N a tio n a l_______
300,000
01,091
4
4
Q-F Nov 1 '09, 1
7
84% 89*2 N a t Bank o f R e p u b lic .. 2,000,000 1,153,655
85*g
85*2
8
8
Q-J I)cc3P09, 2
91
D cc’09 ___
89
92*? N ational C ity ___________ 1,500,000
506,725
3
Q-J Oct '09, 1*?
101
D ec’09
1007S 1023s N ational P r o d u ce _______
250,000
69,079
Q-J Oct '09, 1
IOU2 July’09
1011? 1023S N orth A v e n u e S ta te ___
200,000
60,037
2*2 Q-J Ja i>1910. 1*2
i
101*8
lUD.v
1003., 102*? N orth Side S tate S a v ’gs
50,000
6
6
18,797
Q-J Oct '09, U?
__ _____
6612 Ailg’O.S ____
N orth W est S ta te _____
200,000
10,827
66*2 July’03
s P e o p le ’s Stk Yds State
300.000
65,305 Beg. b 11s. No v ’09 V.89, p.1320
15 10234 10334
103*4
103*4
74,831
250.000
10234 1 0 !
36 101 103*4 Prairie S ta te _________ _
Q-M Sep '09, U?
8
8
60,221
500.000
100 J’ ne’08
2
4
Jan '08. 2
15,702
R a ilw a y E x ch a n g e ____
250,000
100 D ec’09 ____
. . . . ____ Dcc31’09,l*2
100 101% S e c u r i t y ________________
160,920 ____
300,000
1003s Aug’09
Q-J O ct '09, P?
6
0
80,000
10058 102*8 Sou th C h icago S a v in g s .
200,000
1023s
1025s
5 102 1035s Sou th Side S ta te ____ _
5,613 Beg. 1) 11s. Sep t. 15 V. 89. p.S17
200,000
80 Dec'08
11
Q-J Jan 1910, 3
S tate Bank o f C h ic a g o . . 1,500,000 1,557,135 9 + 1
177,356
0
J-J) Sep!!0.0!', 2
250,000
7
S to ck Y ard s S av in gs___
9638 Dec’09
90% 983.,
37,761
6
Union Bank o f C h ica g o .
200,000
0
M-N Nov '09, 3
90 Mch’09 ____
95
90
s U nion Stk Y a rd s State
200,000
0
0
(?)
Q-J Oct '09, J*2
84
D ec’09 __ _
73
81,834
A m erica n T ru st & Sava. 3,000,000
8
91
8
Q-J July '0 9 .::
10 M ay’05
Central T rust Co o f II I.. 2,000,000
841,740
7
7
Q-J Oct '09, Mi
C h icago S av B k A T r ___
?io00,000
103,691
1*2 Q-J Oct '09, 1*2
4
821? 86*? C h icago T itle & T r u s t .. 5,000,000 rl ,373,397
83*2
83*2
0
0
Q-J Jail 19Jo, I*?
3
81
81
801? 8U4 Cltlzens’T rust & Savings
A-O Oct '09, 2
50,000
4
6,959
3
9534
90*4
25
92*7 96*? Colonial T rust & Savings
600,000
507,050
10
Q-J Jan 1910, 2*2
983, D cc’09
98
99
D ro v c r s ’T ru st& S avin gs
200,000
6
103,069
7*2 Q-J Oct '09, 2
943,
943j
4
93
98
F a rw ell T rust C o _______ 1,500,000
209,387
Q-J Oct '09. 1*2
100% Mcll’09
. . Q-M Scp30,09, 4
100*4 109*2 First T ru st & S a v in g s .. 2,000,000 3,083,548
96 N ov’09
06
98
G u arantee T ru st A S a v .
200,000
14,013 Incorp orated 1908 V.87,p. 1138
98 J’ ne’09
98
997*
0
Q-J Jail 1910, 7*?
H arris T rust A Savlhg3. 1,250,000 1,107,300
100 Mch’09
100 100*8 Illinois T rust A Savings 5,000,000 8,460,043 10 + 4 10 + 4
<1 Nov20’09,l
m 3 .. May’09
120 122
6
55,512
0
K e n w o o d T ru st A Savgs
200,000
Q-J Oct ’09, Mi
10
103*2 10312
1027s 104
41? Q-J Oct '09, l*i
L.akeVIew T ru st ft Savgs
2
200,000
30,717
104*4 K ill?
20
1033.1 105
12
12
M erch ants’ L o a n & T r Co 3,000,000 5.301,263
Q-J Oct '0 9 ,3
102*8 D ec’09
102 1023. M e trcp o lita nT ru st A S av
6
252,643
0
750,000
Q-J Sep30’09,l*2
102 D ec’09 - - - 1011? 102
8
8
N orth ern T r u s t (’ 0 _____
Q-J Oct ■()!), 2
1,500,000 2,160,762
56
93*2
9*
93*? 96%
N o rth -W e ste rn T rA S a v .
57,670
6
6
J-J July '09, 3
200,000
100*2 N ov’09
100 102
P e o p le ’s T r A S a v g s ..
6
6
200,000
(?)
Q-J Oct '09, 2
88 N ov’09
88
Pullm an T ru st A S a v g s.
18
90
8
189,967
Q-J Oct '09, 2
500,000
114 N ov’04
Sheridan T r A S av Bank
1/22,378 Beg. b lia.J ly 12 '() 9 V.89,p.141
200,000
81) Dec’ 09
70
81
S to ck m e n ’ s T ru st A Sav
5
32,138
209,000
5
J-J July '09, 2*2
80 N ov’09
U nion T r u s t C o ________ 1,200,000 1,077.043
70*4 81
8
Q-M ocpJO’OO, 2
—
85*2 Juiy’OH
-----W estern T ru st & Savings 1,009,000
210,833
6
(>
Q-J Oct ’09. 1*2
W e s t Side T rA S a v B a n k
76,164 Began bus! ne ss Se pt 51908
200,000
N o te .— A ccru ed Interest m ust be a d d ed to all C h icago b on d 1 prices.
0
1 V\ o o d la w n '1 r A S a v iia u k
39,239
Q-J Oct '09, I*?
200,000
6
•Bid an d asked prices; no sales w’ero m ade on tlds d a y .
t N o v . 10 (close o f business) fo r national banks and N o v . 17 (open in g o f business) fo r State
Institutions, * N o price F riday; latest price this w eek, a D ue D e c. 31. l> D ue June A: A lso s to ck dividend o f 33 1 -3 % ,
n Capital anil surplus to be
Increased, q D ivid en d s are paid Q -J, w ith e x tra p aym en ts Q -F . r A s o f d ate A pril 29 1909. ? U nion Stock Y ard s S tate Bank- and P e o p le ’s T ru st *
Savings B ank con solid a ted u nd er nam e o f P e o p le ’s S to ck Y a rd s S tate B a nk. V . 89. p . 1320.
( A s o f d ate S ept. 1 1009. u A s o f d ate S ept. 2 1909.
1587
THE CHRONICLE
D ec . 18 1909.]
■-=r
Volume ot Business at Stook Bxoliau^es
B id
E l e c t r i c C o m p a n ie s
C h i c E d i s o n C o — S e e C h i 73 g o
e K in g s C o E l L A P C o 100
120
N a r r a g a n ( P r o v ) E l C o . 5 9 !(C91
N Y A Q E l I , A P o w C o 100
05
P r e f e r r e d ____________ 1 0 0
75
U n i t e d E l e c o f N J ___ 1 0 0
75
1 s t g 4 s 1 0 4 9 ............... J - D
79
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
R a ilro a d ,
W eek
D ec.
e n d in g
17 1909.
P a r v a lu e.
S h a res.
Saturday _________
Monday __________
Tuesday____ ______
Wednesday _______
Thursday___ ______
Friday____________
Total___________
Ac.,
S ta te
U . S .
B on d s.
B on d s.
B on d s.
$1,807,000
3,752,000,
3.608.000
4,101,500
4.033.000
6,929.000|
$73,000
82,000
97,500
81,000
48,500
58,000
3,891,836'$347,465,000 $24,290,500
S413.000
347,488 S30,898,800
8G3.01S 80,951,550
839,951 70,913,600
689.366 59,410,650
637,955 56,922,350
514,058 48,362,050
W eek
S a les a t
N e w Y o r k S to ck
E xch a n g e.
e n d in g D e c .
1909.
17.
J a n .
1 to
D ec.
and
T e le p h o n e
$500
C o m m 'l U n T e l (N Y ) . 25
K m p A B a y S ta te T e l . 1 00
’ 2^000 F r a n k l i n ______ .
100
c G o ld A S to c k T e le e . 1 0 0
2o"o5o N Y A N J T e l e p h — S e e S t k
e N o r th w e s te r n T e le g . 50
$22,500 P a c l l l c A A t l a n t i c _____ 2 5
S o u th e rn A A t l a n t i c . . 25
17.
1908.
F e r r y C o m p a n ie s
B A N Y 1 s t Gs 1 9 1 1 . J - J
N Y A E R F e r r y s t k . 100
1 s t 5 s 1 9 2 2 ............... . M - N
N Y A H o b 5 s M a y '4 6 . J - D
H o b F y 1 s t 5s 1 9 4 6 M - N
N Y A N J 5 s 1 9 4 6 ____ J - J
1 0 t h A 2 3 d S ts f e r r y . 1 0 0
■
1 s t m tg e 5s 1 9 1 9 . . J - D
e U n io n F e r r y s t o c k . . 100
e 1 s t 5 s 1 9 2 0 ................A l N
S h o r t- T e r m N o te s
A m C lg s e r A 4s T 1 . . M S
S e r B 4 s M c h 1 5 '1 2 M - S
A m T e l A T e l g 5s '1 0 - J - J
A t la n C o a s t L 5s T O .M - S
B e t h l e h S t e e l 6s T 4 . . U - N
P h ila d e lp h ia .
C ln H a m A D 4 s 1 9 1 3 . J - J
C C C A S t L 5s, J u n e ’ l l
U n lis te d
B ond
B on d
| L is ted
L is ted
U n lis te d
D e e . 17 1909,
I E r ie 6 s , A p r 8 1 9 1 1 . . A - 0
sh a res.
sh a res.
s a le s.
\ sh a res.
sa les.
sh a res.
I n t e r b R T g 6s 1 9 1 1 . A l- N
35,346
$22,000
14,672
3,865 $118,000 K C R y A L t g h t 6 3 T 2 . M - S
Saturday.................. 15,131
55,000;
83,000 L a c k S t e e l 5s g 1 9 1 0 . M - S
41,583
16,320
22,610
Monday.................... 32,040
57,000,
39,131
83,000 L a k e S h A M S o 5 s T O F - A
12,378
23,527
Tuesday......... ........ 25,605
66,000;
36,006
115 600 L o u A N a s h g 5s '1 0 . A 1 - S
19,330
8,195
Wednesday___ . . . . . 30,273
35,143
61,000 M i c h C e n t 5 s 1 9 1 0 . . . F - A
11,090
31.0001 21,985
Thursday_________ 54 235
52,063
93,000,
11,399
47,500 M i n n A S t L g 5s ’ l l . F - A
15,700
Friday____________ 65,547
N Y C e n t 5s 1 9 1 0 _____F - A
239,252 S324.000' 111,634
69.537 $508,100 N Y C L in e s K c jp 5 s T O - 2 7
N Y N H A H 5s ’ 1 0 - T 2
N o r t A W e s t 5s 1 9 1 0 . A l - N
P a R U 5s M c h 1 5 T 0 . A 1 - S
S t L A S a n F r g 5s ' l l . J -J
4 J ii% g n o te s ’ l 2 o p . F - A
All bond prices are now "and interest" oxccpt where marked " f .”
S o u th R y g 5s 1 9 1 b ..F - A
T id e w a te r 6s, 1 9 1 3 , g u a r
BUI
A sk
W e s tln g h ’c E l A M 6s 1 9 1 0
Street Railways
Street Railways
B id
N ew
Y o r k C itu
lb Serv Corp N J ( C o n )
R a ilr o a d
Rapid Tran St R y_. 100 240 250 C h i c G t W e s t c o m ( w 1) 1 0 0
Blecck St A Ful F stk. 100 18 24
1st 5s 1921........ A-O 106
P r e f e r r e d ( w 1 ) _____ 1 0 0
c is t mtgc 4s 1950.J-J 60 70
J C Hob & l ’aterson—■
0 B'y A 7th Ave stk .. 100 140 145
C h i c P e o A S t I ___
4s ft 1949____ M-N 78';
0010 101
P r i o r l i e n g 4 H s ’ 3 0 . A l- S
e 2d mtge 5s 1014. J-J
So .1 Gas El & Trac.100 133
C o n m t g g 5s 1 9 3 0 . . J -J
Con 5s 1943—.See Stock Kxc list
In c o m e 5s, J u ly 1 9 3 0 ..
Gu g 5s 1953
Al-S 99>;
B’way Surf 1st 5s gu 1924 101 104
No Hud Co Ry 6s’ 14 J-J 105
C h i c a g o S u b w a y ______ 1 0 0
e Cent'l Crosst’n stk .. 100
5s 1928............... .J-J 103
. F t W A D en C y s td .,1 0 0
95
e 1st mtge 6s 1922.M-N / 80
Ext 5s 1924___ M-N 100
1K a n s a s C i t y S o u 5s A p r 1
30 50
e Ccn Pk N A E R stk. 100
.
1 9 5 0 ( w 1)— S e e S t o c k
Pat City con 0 s ’31.J-I) 117
80 90
e Chr’ t’ r A 10th St stk 100
Outside Securities
Col A Oth Ave 5s S e e Stock Exc list
Dry D E B A B—
c 1st gold 5s 1932..J-I) 97'; 101
e Scrip 5s 1914___ F-A / 45 50
Eighth Avenue stock 100 250 300
e Scrip 6s 1914__ F-A / 05 100
e 42d A Gr St F'y stk. 100 200 220
42d .St M A St N Ave 100
e 1st mtge 6s 1910.M-S
99>; 10(»4
2d Income 6s 1915. J-.J / 50
Inter-Met—S e e Stk Exch ange list
Lex Av A PavF 5s S e e Stk Exc list
Metropol St Ry— S e e Stk Exc list
Ninth Avenue s to ck ..100 ICO 170
Second Avenue stock. 100 14 20
e 1st M 5s'09 ext TO M-N 96 100
Consol 5s 1048 __ F-A / 70 75
Sixth Avenue stock__ 100 100 116
Sou Boulev 5s 1945.. J-J 60 85
So Fer 1st 5s 1919__ A-O
88 92
Third Avenue— S e e Stock Kxc list
Tarry W P A M 5s 1928 / 50 80
YlcersStRRSs 1946 A-O 85 95
28th A 29th Sts 5s '96 A-0 / ----- 20
e Twenty-third St stk .100 200
250
Union Ry 1st 5s 1943 . F-A 100% 1011;
Wcstchest 1st 5s '43 J-J 60 75
B r o o k ly n
Allan Avenue HR—
98
Con 5s g 1931------- A-O
B B A W E 5s 1933.-A-0 95
Brooklyn City S lock ..10 196
Con 5s— S e e Stk Exch angc
Bkln Hgts 1st 5s 1941 A-O 97
Bkln Queens Co A Sub—
e 1st g 5s '41 op TO-J-J 98
Con guar 5s— S e e Stock Exc
Bklyn Rap Tran— S e e Stk Exc
Coney Isl A Bklyn.. 100 65
1st cons g 4s 1948..J-J 78
Con g 4s 1955_____ |-,J 76
Brk C A N 5s 1939 J-J 95
Gr'p’ t ALorSt 1st 0s .M-N
Kings C El 4s— S e e Stock Exc
Nassau Elee pref____ 100
5s 1944................. A-O 103
1st 4s 1951— S e e Stock Exc
N W ’bg A Flat 1st ex 4 A s
90
Steinway 1st 6s 1922..J-J 103
101
100
199
list
102
101
list
list
75
85
85
100
list
1041o
list
95
100
O th e r C itie s
Buffalo Street Ry—
1st consol 5s~1931._F-A
Deb (is 1917_____ A-O
Columbus (O) St Ity.-lOO
Preferred_________ 100
Col tun lty con 5s— S e e Pill
Crosst'wn 1st 5s '33 J-D
• Conn Ry A Ltg com. 100
e Preferred ........ ... 100
1st A ref 4 ^ s — S e e Stk
Grand Rapids lty___ 10''
Preferred_________ 100
0 Louisv St 5s 1930— J-J
Lvnn A Bos 1st 5s ’ 24 J-D
0 New Orl Rys A Lgt.100
0 Preferred ---------- 100
Gen Alg 4 Ms ’35— S e e S
P u b Serv Corp of N J.100
Tr ctfs 2% to 6%pcrpet
North Jersey St lty. 100
1st 4s 1018____ Al-N
Cotro Tract of N J..100
1st 5s 1033____ J-D
New’k PasRy 5s ’30 J-J
a
Industrial and Misccl.
1st
02
03
70
82
____
8J
C
|
I
|C
Preferred_________ 100
Debenture 4s 1951 .A-O
--
85
18
16
c
n o
108
05
45
1 05
E xc
1 05
05
92
cl
____
1
1st
E
9J
25
55
98
1 05
95
39
67
30
95
e
e
70
96
35
65
00
100
100
951o
104
la list
104
75
80
Exc
87
106
77
85
list
117
90
106'4
105 107
24% 25
581* 59
tk Ex list
12310 125
Ex-rlghts.
10!)
109
971106
100
50
791;
76
10411071'
b
IOOI4
81
77
1051;
1091-
Basts,
Basis.
2d 6s opt 19 14..A-0 100
So Side El (Chic) — S e e Cli lcago list
Syracuse R T 5s ’46..M -S 102 105
Trent P & H 5s 1943.J-D 100 102
United Rys of St L—
2
Coni vot tr ctfs___ 100 ___
4
e Preferred _______ 100
72
Gen 4s 1934— S e e Stock Kxc
UnltRys San Fran S e e Stk Exc
4
Wash Ry & El Co___ 100 421)
Preferred.................. 100 90*4
2
4s 1951...................... J-D 87%
Gas Securities
N ew
Y o rk
Cent U11 Gas 5s 1927 ..T-J
Con Gas (N Y ) — S e e Stk
e Mutual Gas________100
New Amsterdam Gas—
1st consol 5s 1948..J-J
NY&ERGas 1st 53’44 J-J
Consol 5s 1945_____ J-J
N Y A Richmond Gas. 100
NYAWestchesterL’ht’g—
I)eb t{ 5s 1954 guar.J-J
Nor Un 1st 5s 1927..M-N
e Standard Gas co m ..100
e Preferred _______ 100
1st 5s 1930............. Al-N
O th e r C it ie s
Am Gas A Elec co m .. 50
Preferred__________ 50
Amer Light A T ract.. 100
Preferred_________ 100
Bay State Gas______ 50
Blngh’ton (N Y) Gas VVks
1st g 5s 19*8...........A-0
Brooklyn Un Gas—-SecStk
Buiralo City Gas stk ._ 100
1st 5s 1947— S e e Stock
Con Gas ot N J 5s ’36 .J-J
Consumers' L I U ; Pow—
5s 1938.....................J-D
Denver Gas A Elec__ 100
Gen g 5s 1949 op.M-N
Elizabeth Gas Lt Co--100
Essex A Hudson Gas.100
Gas A El Bergen Co.-IOQ
X Gr Hap 1st 5s '15.F-A
Gr't West Pow 5s '46.J-J
Hudson Co Gas........... 100
Indiana Lighting C o .. 100
4s 1958 op............... E-A
Indianapolis Gas........ 50
1st g 5s 19*2.........A -0
Jackson Gas 5s g '3 7 .A-O
e Laclede Gas............... 100
e Preferred _______ 100
Madison Gas 6s 1926. A-0
Newark Gas 6s 1944.-Q-J
Newark Consol G as.. 100
e Con g 5s 1948__ J-TB
No Hudson I, It A Pow—
5s 1938............
A-0
Pacific Gas A E, co m .100
Preferred_________ 100
Pat A Pas Gas & Elec. 100
e Con g 5s 1040...M -S
St Joseph Gas 5s 1937. J-J
Western Power com. 100
Preferred................. 100
0 Sells
100
Exc
150
;
"
100
103
07
32
101
97
7(40
7(65
»
102
*44';
I4
*44
45
289 291
108 109
ft
S
95
98
Exc list
6
5
Exc list
92 95
110
140
95
275
135
76
99
93
134
27
67
17
75
95
108'
94
/103
131
90
106
110
53'.i
87
90
101
96
37
57
.
.
■>
.
7g
.
.
4
2
1;
1;
95
28
68
7
80
1st M s f g 5s 1956.J-D
Preferred_________ 100
General Chemical__ 100
e Preferred ______ 100
tk
4%
23
3S
ggenhelm Explor'i
Co
88
Ref g 4s '52 op '12..J-J
all Signal Co com .. 100 45
M2
Havana Tobacco C o .. 100
10
Preferred________ 100
1st g 5s June 1 '2 2 .J-D G3
iecker-Jones-Jewell Mill
1st 6s 1922............ M-S 105
1
30
,
e
5s 1910.
I
f
c
Preferred _______ 166
Preferred________ 100
1st g 5s 1932_____ A-O
;
1 st
g 5s 1951______A-0
Preferred_________ 100
1st 6s 1948............J-D
Preferred
,
10
90
90
55
8
20
68
109
40
09% (00
8% 9
42
110
9J
95
140 145
-k Ex list
150 155
OIL 92%
93
91
6
8
40
43
30
101 105
no
143 160
65
77
99 103
.M-N
Preferred_________ 100
c
1
I
1
93
33
*8
8%
*134 21*
*1134 n%
238 242
C
(
C.
!c
10H64
04%
*173; 17%
24J 243
135
1 00
110
ss 103
Preferred_________ 100
130
25
.100
2d 6s 1919____ .M-N 80 100
*2l4 1l*>
*10
lul4
Preferred_________ 50
n
n .j
1st s f g 5s 1939..Al-N
ackawanna Steel__ 100
301 •> \e
50
j]
/ 90
02
/ 50
....
/ ------5
5
434
9 7 1; 1 0 2
A
23 25
Kxc ■1st
15% 15*4
923. 9 .1 %
Preferred _______100
*81- HI
126 127
1281- 1291;
8734 88
1 ’ rcferred ______ 100
83%
Gold 4 ' A * 1936
J-D 88
0 6 1 , \e
.0 0
I
------- | l
72
[
32
98
961; 971;
9 U 981;
L97g lO O lg
lo o ig 1 0 0 1;
99 3 4 lO O U
96<g 9 / 3 s
100% 1U034
____ ____
1 0 2 % 103%
98
97
9934 100%
U97g 100%
100% 100
99% 1 0 0 %
9 93|
99
9 9 % 100%
4 .2 j
M%%
10134
100
100% 100%
1001g 100 %
901;
9J
9 5% 9 6 1 ;
09% 100%
101% 10134
100% 100%
291;
50*2
r
3
18
34
Preferred_________ 100
_
—
B id
Coll tr 4s 1957 rets. .J-J
C
c
C
$24,756,000 $29,408,500' >1,270,339,tOOl 81.010,508,020
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
EXCHANGES.
* Per share,
!
c
T e le g ra p h
e A m e r T e lc g A C a b le . 100
e C e n tra l & S o A m e r_ -1 0 0
189,199,790
207,544,672
5,348,553
3,891,830
Stocks—No. shares—
Par value________ $347,465,000 $493,143,450 $18,981,341,500 $16,609,570,450
$142,500
$315,150
$1,500
$65,200
Bank shares, par-----B on d s.
S521.820
$801,200
$1,000
$22,500
Government bonds__
80,828,000'
3 S.510,400
614,000
•143,000
State bonds________
929,158,200
UR. and mlsc. bonds.. 24,290,500 28,793,500 1,233,028,109
Total bonds______
A sk
'e
!?
<
ii
1
E xc
lis t
11
t E x c lis t |
j
102
100
215
110
;
N o r t h ’ l l S e c u r itie s S tu b s .
*3 3
35
*27
P i t t s B e s s A L E ________5 0
!i*
72
*6 0
*1%
1%
4j
00
e R a ilr o a d S e c u r itie s C o —
Exc list
111 C s t k t r c t f s s e r A ’ 5 2
100
S e a b o a rd C o m p a n y —
—
79
37
40
1 s t p r e f e r r e d . _____ 1 0 0
81
e Preferred ............ 106
83
C o m A 2 d p re f— S ee B a l t E x c lis t
225 230
S e a b o a rd A i r L in e —
987g 99%
*6
7
C o ll 5s e x t M a y ’ l l . A l - S
102
97
97%
105
W e s t P a c 1 s t 5s ’ 3 3 . . M - S
*1034 11
I n d u s t r i a l a n d A l is c e l .
21•» 3
A d a m s E x p g 4s 1 9 4 7 J - D / 921; 93
57
00
*2 10
2 25
A l i m e e k M i n i n g ________2 5
115
98% 100
120
Preferred_________ 100
A l l i a n c e R e a t y _____ .1 0 1 )
A llls - C h a lm e r s C o 1 s t m t g
*23% 23%
*42;%
33
s f 5s 1 9 3 6 — S e e S t o c k E x c l i s t
Exc list
150
A m e r i c a n B o o k ________1 0 0
156
118
121
or
n .........100
70
A m e r i c a n B r a s s ________10C
85
225
Preferred.
. . ___ 100
90
A m e r i c a n C h i c le c o m . 1 00 2 2 2
104
103 105
106
P r e f e r r e d ____________ 10C
Producers Oil_______ 100 X U 150 200
15
—
A m G ra p h o p h o n e c o m 100
32
Realty Assoc (Bklyn) .100 133 137
P r e f e r r e d ____________ 1 01
1 40
145
Royal Bak Powd com. 100 160 170
A m e r H a r d w a r e ______ 1 O f
103
104%
Preferred________ 100 rlOG 1 9
A m M a ltin g 6s 1 9 1 4 ..J - C
131 137
95
105
A m e r P re s s A s s o c ’ n _ .1 0 <
*75
A m S o d a F o u n t c o m ..lO (
l8
25
M fg C o ............. 100 495 500
35
1 s t p r e f e r r e d ________1 0 (
6
South Iron & S com ..100 23 25
2 d p r e f e r r e d _________ 1 0(
56
Preferred...........
100 62
A m S t F o u n d n e w — S e e h t k E x lis t
1
103
3
105
Standard Cordage___ 100
Cs 1 0 3 5 ............................. A -C
74
23
76
1st At g 5s '31 red.A-O / 20
D e b 4 3 1 9 2 3 _ _ ............F - A
3
2 2 2 1 - -'2 7 %
5
Adjust M 5s Apr 1 1931
A m e r i c a n S u r e t y ............ 5<
*4 1 ;
30
5
andard Coupler com 100 2 0
A m e r ic a n T h r e a d p r e f
5
4 30
135
Preferred_________ 100 1 00
A m T o b a c c o C o c o m . .1 0 1
44
47
Standard Milling C o.-100 16 19
A m e r T y p e f d c r s c o m . 10C
99 101
Preferred_________ 100 49 53
P r e f e r r e d ____________ 1 0 (
82 80
100
99
1 st 5s 1930_______ M-N
D e b g 6 s 1 9 3 9 _____A l- N
2
3
Standard QU of N J..100 665 ,570
A m e r W r it in g P a p e r..IO C
Kxc ’ list
25
26%
w K t I t C o — S e e Host Stk
P re fe rr e d . .
1 0C
89
8 7 ''
1 st 5s 1910-1014...J-J 100 100%
1 s t s f g 5s T 9 o p '0 9 J - J
101; 111;
exas Company........ 100 215 225
A tlG f A W In d S S L in e s . 100
20
95 105
28
P r e f e r r e d ____________ 1 0 (
72
153 158
C o l tr g 5 s ’ 19 5 9 ........... ( • / 7 0
____
>ah Min (Nevada) 1 *7% 7%
B a r n e y A S m i t h C a r . _ 10C
—
____ Trenton Potteries com 100
5 10
P r e f e r r e d ____________ 1 0 (
55 65
Preferred, new____ 100
B c t h l ’ m S te e l C o r p — S e c $ t k E x lis t
1 40
Trow Directory______ 100 27 30
B l is s C o m p a n y c o m . . 5(
__ Union Typewriter com 100 61
1 35
66
P r e f e r r e d ____________ 5(
270
B o n d A M tg e G u a r . _10(
1st preferred______ 100; 110 114
2 77 %
130
B o r d e n ’s C o n d M i l k . . MX 118
2d preferred______ 100 :112
112 114
1 05
P r e f e r r e d ......... ..............1 0 (
52
108
United Uk Nbte Corp. 50 *50
*/3 |
B r i t i s h C o l C o p p e r __
5
53
Preferred__________ 50 *51
8
B u t t e C o a l l t f ij n " M i n i n g 15 * 2 8 . ; 29
United Cigar Mfrs___ 100 86*2 88
109 JR
3
C a s e in C o o f A m c o m . l O l
4
e Preferred _______ 100
02
70
United Copper_______ 100
P r e f e r r e d ____________ 1 00
71; 8
125
140
Preferred_________ 100 20 25
C a s u a lty C o o f A m e r . .1 0 0
130
C e l l u l o i d C o ____________ lo c
133
U S Casualty________ 100 215
0
8
50 60
C e n t F i r e w o r k s c o m . . 1 00
U S Envelope com__ 100
53
P r e f e r r e d ____________ 1 0C
00
Preferred_________ 100 112 116
1
1% U S Finishing_______ 100 133
140
C e n t r a l F o u n d r y ______ 1 00
10
14
P re fe rr e d .
_______ 1 0 1
Preferred_________ 160 110 115
72
68
U S Steel Corporation—
D e b 6 s 1 9 1 9 o p ’ 0 1 . A l- N
COO
7 00
C lie s c b r o u g h M f g C o . . l 0 (
Col tr s f 5s '51 opt ’ ll 114162
65
'
C i t y I n v e s t i n g O o _____10C
Col tr s f 5s '51 not opt 114%
60
102
99
U S Tit Gu & Indent..100
P r e f e r r e d ____________ 1 0 (
e C la llt n
(H B ) c o m . . l 0 ( 105 ____ eUtah Copper Co— S e e Stk Exc list
95
100
Water,m Co com__ 100
e 1 s t p r e f e r r e d ............ 10<
ys ____
Preferr d _________ 100
c 2 d p r e f e r r e d ______ 1 0 (
____
Westchester & Bronx Tit
C o l A R o c k C o a l A I p f lo t
_
TSt g 5s 1 9 1 7 _______ J -J
A Mtge Guar______ 100 1G5 170
100
Westingh’se Air Brake.50 T1.% 150
C o l t r 6s O c t 1 9 5 6 . J -.
27
West El A Affg 5s—.SeeStk Exc (list
C o n s o l C a r H e a t i n g ___ 10<
30
Worthing Pump pref.100 1081 rii2
C o n s R y L g t A U c f r l g . 1 0 0 1 ____ —
on Stk. Ex., but not very active. / Flat price,
n
,\om. s Sale price.
x
Ex-dlv.
v
Ex-rlghts.
z
New stock
SOSTON STOCK EXCHANGE—Stock Record, Daily, Weekly and Yearly
S H A R E
S a tu r d a y
D ec.
11.
13.
122 U 12212 12212
103^4 10-1U *104l.i
229 229
2291*
130
*129
*__ 224
224
148
*147 148
*_
*15
298
16
*75
♦__
48
P R IC E S — N O T
M on d a y
D ec.
12
14.
1221* 1221 *
10514 *1041*
229l2 229
130
130
224 ♦
148
148
* „__ 300 ♦__
♦15
10
*15
*__
12 * _
47*2 4712 *48
153
P E R
C E N T U M
W ed n esd a y
D ec.
15.
1225* 1211 * 1211 "
10512 1041* 1041*
2293. 228l2 22S1*
130
130 131
224 ♦__ 224
148 *147
300 *
300
16 *15
16
*75
*75
48
T u esd ay
D ec.
P R IC E S
T h u rsd a y
D ec
16
12
*
12
D ec
17
1223* 1223*
1043* 1043*
228 2281,
131 131
2231* 2231*
148 148
L ast
L ast
*75
49
153
F r id a y
L ast
4712 47'2 ♦48
I 22is 1221f
*10412 1056
228
229
*130
131
22312 2231s
147*2 148
152 ruly'Ol
S a l e 298
Dec’OS
N'ov’Ot
S a l e 15
70
Dec’Oi
S a l e 11
Oct’OS
49
♦48
49
115
170
Dec'Ofl
Tulv’OB
270 “ Oct ’09
129
102
102
*101
103
*101
*101
*87
*87 ___ *87
881* 88*2 *87
*87
195
16
16
16
*15
15^4 157* 16
16
1534 161., 1534 1 5^4
781* 791* 79
78
78
76
78
7912 7914 79*4
76
76
156
157!"
157 15712 158 1581* 1581* 15934 xl5612 157*2 1551* 157
149 Aug’09
1291* 1291* *130
*190
131
12912 130
129
129
1291.112914 129
102
102 *102
210
210
*190
19112 195
195 195 *195
33
33
32
32
lid * 116 116 * 1151 * 116 *11514 11512 11512 1151*
104
104 104
104 104 *104 1041* *104 1041* 104
104
2021g *2027* 2031* 2027s 2033* 20214 2027* 203*8 20315 *2037* 20418
10312 * 1021* 1031* 1021* 1021* 1023* 1023* *1031.i 104*4 *104*8 105ls
168
165 165
9212 921* *9212 93
93
93
93
93
9212 921* 93
105 105 *105 106 105
105
105 105
105 105
145 Julv’Of
190
190
S a les
o f th e
W eek
STOCKS
BOSTON STOCK
EXCHANGE
S h a res
71?
H
20
233
H
37
R a n g e s in c e J a n .
1909
H ig h e s t
L ow est
Railroads
Atch Top & Santa Fe.lOi
Do pref_________ lot
Boston & Albany____101
Boston Elevated_____101
Boston & L ow ell___ 101
Boston & Maine_____10<
98 Jan
100-5.1 Jan
225 Jan
124U Jan
2231* Dec
1321* Jan
___ Boston & Providence.IOC 295 Sep
Boston Suburban El Cos.
_
1134 Jan
___ Boston & Wore Elcc Co
6(
4 Chic June Ry & USY.10C
1
R ange fo r
P r ev io u s
L ow est
10H1 Dec
104i,i Dec
23!) Dec
140 Jan
228 Dec
l-lu Jan
301 Jan 9
22 Feb 3
284 Jan
9 ART
1-Ui Alch 12
81* Nov
301 Nov
13 Alch
58 Nov
17 Jan
60** Jan
15H] Deo
1201* Dec
1
10 “ Mayll
471* Dec 1
143 - -Ian 2
123 J’ly b
173 Ale'll 5
1421* Alch 25
275 “ Alch10
136 Feb 5 117 Jan
102 Dec 16
67 Apr
881* Sep 15
81 Oct
19511 Jan 13
llU Jan 12 19 Oct 1
1,536 Mass Electric Cos___ 100
8i 1 Jan
G83 Do pref_________ IOC 581* Jan 15 84 Nov 3
40 Jan
3,316 N Y N II & Hartford.IOC A153 Nov f 174'3 J’ne 14 128 Jan
149 Ally: 9
05
Old Colony____ f.___ 100
190 Dec
8
200*8 Jail 18
175 Jan
138
Apr
133 Nov
86 Dec
85 Dec
13-3.1 Nov
64 Nov
161 Nov
106's Dec
Electric______100 9014 Alch 2 1171* Aug 16 70 Feb
95 Dec
pref_________ IOC 97** Apr 5 107 Aug 31
S8-3? Jan 102 Dec
Pacific_______ IOC xl72<x Feb 26 218-54 Aug 10 1101* Alcll 1853,3 Nov
pref_________ IOC 931* Alch 2 117*4 Aug 16
9733 Nov
7834 Apr
2
17.5 Apr 17
9U*Sep
48 West End St________ 50
88 Jan 2
76 Jan
98*8 Apr 23
Do pref_________ 5C 102 Oct 12 112 Apr 27
*10 1
91
96 Jan 111) Doc
Wore Nash & Roch._10C 144 Alch 12 146 Mayll) 138 J iy 140 Mch
Miscellaneous
4578 45's 2.88C Amer Agrlcul Chem._100 33U Jan 2 6OI4 Aug 12
13 Jan
46
461* 45*2 46
45*4 46
35 Nov
4312 441.) 4434 46
94 Jan 18 105 J’ly 23
77 Alch 96 Nov
284 Do pref_________ 100
*10U2
102U 1021* 1021* 1021* 1021* 10212 1021., 1021* ♦ion*
55, Jan 26
4 Feb
734
8I4
9?s Feb 23
12 Dec
*8
8
773 77*
77S 3,350 Amer Pneu Service__ 50
8
7*8 8
81*
8U
13
Jan
13
!)i*
Feb
22l2 Nov 1
213, 1,989
Do pref_________ 50
*21
22
21
2112 2112 ♦ 21
2214
211 * 211 *
23 Dec
211 * 2134
1231* 1241.] 1231* 1233* 123 1235* 123
12312 12312 124 124
123
634 Amer Sugar Relln___ 100 j-114 Nov30 136 Apr 8 1 991.1 Jan 137-_,s Nov
12 H.I 1211 * 1211 * 1221 * 122
1221* 122
122
1211 * 12112 12212 12212
523 Do pref_________ 100 *117 Nov30 131 Apr 13 106 Feb 132 Nov
1423.i 143
1417* 1423S 3,285 Amer Telep & Teleg--100 125U Feb 1 1451,s Sep 29
142*8 14314 143 1433* 14234 143
14212 143
99 Jan 1321* Nov
271? Feb 4
323g Dec
36
36
38 *36
16 Jan
36^4 371* 38
38
110 American Woolen___ 100
37
38
4018 Aug27
*37
38
Do pref_________ 100
931? Jan 15 108 J'n ell
7734 Feb
*104 105
1041* 1051.1 105 IO5 I4 105 105
961* Nov
10512 10512 105
105*2 1,001
*710
Boston Land________ 10
334 Apr 1
3 Jan
81* *7U 81* *7l2 81*
41? Dec
Oct’09
*712 81*
L a s t S a l e 8*4
8I.1 Oct 26
*1443.1 14012 *14434 140!2 *1455s 14634 ♦__ 14634
Cumb Telep & Teleg.100 125 Jan 25 1471* Nov 9
961* Jan
L a s t S a l e 1457s Nov’09
128 Nov
713,| *7u 4 72
71
7212
65 Dominion Iron & Steel.. 181? Jan 11 7134 Dec 11
143, Jan
2Ui Dec
7 h4 711.1 *71!2 72
*71*4 713, *72
7 Jan 4
*1H4 1112 n
11
*n
41, Mch
111 ,
111 * 113*
113s 1178 1U2 1134 2,930 East Boston Land______
8-3s Nov
137g J’no 9
472 Edison Elec Ilium__ 100 245 Jan 2 260 Apr 7 201 Mch 253 Nov
250
250
250 250 250 250 250 250 250 250 *___ 250
15934 15934
♦160 I 6OI0
100 General E le c tr ic .__ 100
♦160 161
7834 791* 79 7934 79 ' 7958 2,280 MassachuscttsGasCos 100 59 Jan 6 7934 Dee 16
78i4 7814 78<4 787* 781* 79
60 Deo
49 Alch
9212 9212 93
921* 93
92
9212 93
403 Do pref_________ 100 89 Jan 5 97 Apr 23
93
9212 92U 93
77 Jan
90 Nov
214
23 Mergenthaler Lino__ 100 2021* Alch 12 220U Dec 16 192 Apr 215 Nov
♦218 220
21912 2191* 219 219 2181* 21812 21912 220U *211
21*
21*
21*
*212 3
212
21*
*212
3
584 Mexican Telephone.. 10
2 Jan 5
314 Oct 15
*212 3
21*
1 Alch
3 Oct
123 1233* 12234 12234 12212 12434 124 12434 124 1241, 123*4 12314 1,974 N E Cotton Yarn___ 100
68 Apr 24 125 Oct 20
40 Alch 78 Nov
1111 ? n u 2 n n 2 1 1 U2 i m 2 ill's llllg
111
114 Do pref_________ 100
11112 1101* 1101* 110
93 Jan 2 118 Oct 16
75 Alch
93 Dec
123 N E Telephone______100 126*4 Jan 5 139 Sep 20 105 Jan 128 Nov
*13512 ___ 136 136‘4 13614 1371? 13712 13712 *137 137*2 *137
137*2
Pacific Coast Power. .100 75 Feb 6 108 Oct 13
Dec’09
*99 101
*99 101
*99 101
L a s t S a l e 100
*99 101
611* J’uc 79 Dec
18934 18934
*190 191
1901* 19012 1903* 19012 190 1901* 1891* 190
150 Pullman Co_________ 100 168 Jan 30 199 Aug 7 147 Jan 1741* Nov
12
12
111 * 111 ,
931 Jan 11
21 Reece Button-Hole.. 10
* 1112 12
♦111 * 12
12 Sep 29
*1U2 12
0 Apr
101* Nov
112
112
1101 * 11134 111
111
111
111
11034 111 *109
1093s 1,188 Swift & Co............ ...1 0 0 100 Jan 9 1141* Aug 6
881* Jan 1080 J’ly
32
32
32
3012 3134 3212 321? 32
*31
32
*31*2 32
627 Torrlngton, Class A ._ 25 201* Atay21 321* Dec 13
24 Oct
20 “ Jan
31
*30
30
30
30
30
30
30 *29
65 Do pref_________ 25 2414 Jan 29 35 Nov 8
30
*28
30
23 May 261* Deo
15S 15*
1 Jan 26
100 Union Cop L’d & i l ’g . 25
lit Mch
2 Apr 2
152 152" 1521* 155
150 152
16312 1,823 United Fruit________ 100 1261* Jan 13 167 Sep 20 1141* Jan 148 J’ly
153 ' 157*2 157
14912 150
6S34 083.1 681* 683., 268
1,168 Un Shoo Mach C orp.. 25 x54 Alcll 19 71 Oct 7
68
6814 681, 68*2 6812 68
68
623.8 Nov
3Si2 Jan
297g 297* 2973 30
281? Jan 11 3 U4 Sep 21
247{j Jan
301.1 301? 3014 301., x29»s 30
30 Nov
295,8 297S 329 Do pref_________ 25
4 134 Feb 24
923* 9H4 921* 90-% 9112 9Hs 9134 9138 9218 15,046 U S Steel Corp_______100
9012 907* 91
947s Oct 4 26 Jan
58-3.1 N ov
125 125
196 Do pref_________ 100 107 Feb 23 131 Oct 4
1255* 1261j 125\* 1265* 1243* 125U 125 125
871* Jan
114 Nov
1245s 12434
125g
72 West Telep & Teleg.-lOO
12
1214
6 i* Jan 11
12
12
12
12
1234 Atay 5
4 Feb
121* 121*
1212 1212 * 1214
91* Nov
69 Do pref_________ 100
89
92 Nov 19
90
8912 8912 *8912 90 *90
—
76 Alch 3
8912 8912 *8912 90
59 Jan
801.4 Dec
Mining
♦ 6
6
6
61*
6
47* Oct 28
6
612
6
O'*
6 I4
101* May28
6I4
11 * Feb
6*4 1,185 Adventure Con______25
12*4 Aug
25 34 Jan 29 62 Oct 1 24 “ Apr
♦___ 56 *
__
500 Allouez_______ .
58
56 ♦__
56
56
56 ♦__
88
873a 88
87
871* 8712 S8I4 8714 883* 87
873s 88 12,582 Amalgamated Copper 100 65 Deb 26 961* NovlO
45 Feb
3734 38')* 3734 38% 373.1 381.1 38
38
5,475 Am Zinc Lead & S m .. 25 23 Alch 27 39 Dec 13
3734 383* 381* 39
2034 Jan
30 ” J'ne
Anaconda__________ 25
477* Nov’09
38*8 Feb 26
53 Nov
4434 44
4334 4312 4412 44
43
451.1 45I4 46*2 46*8 473, 18,679 Arizona Commercial. 25 30 Feb 26 48*4 Sep 29
it Jan
4()5S Dec
Arnold
____________
25
200
.30 .75 *.60 .75 * .50 .75
.30 Dec 14
*.50 .51 *.50
1 Feb 17
40
Feb
.50
Aug
. . . . . .2 5
117* I2 I4 12
111 * 111 *
* 11
12
1214
12
1238 2,380 Atlantic
* lll 4 12
s J’ly 16 18 Jan 2
8 Apr
lfil* Nov
850 Bonanza (Dev Co)__ 10 .45 Feb 16 .80 Alay 7 .25 Oct
.55 .55 *.55 .60 * .55 .60
.55
.55
.55 .60 *.55 .60
Boston
Con
C&G(rcts)
£1
211
*
22
223S
43,501
1
0
-5
.1
Alch
15
22
223* 2 H*
2 1»3 221*
231* Dec 13
23
221* 2312
23ls
10*4 Apr
is*s Nov
5 17l8 J’ly 14 23I4 Dec 17
2134 22
213. 22
2234 23*4 5,300 Bos&CorbCop&SllMg
221., 221,
2134 223, 223, 23
llU Apr
25 " Nov
21-3S l' CD 24 3353 Nov 19
29
29
291? 2912 293* 29
2953 4,745 Butte Coalition______15
2912 291* 28>2 293., 29
151* Jan
30 Aug
Calumet
&
Arizona..
10
101
101
961.1 Alay 3 119 Jan 4
100
100 101
101
10212 1,127
10 H2 1011* 100 ion* 101
93 “ Feb 130 Aug
585 Fob 26 695 Aug 13 .r565 Alcll 700 Jan
648 650
050 650 650 650 650
650 650
645 650
61 Calumet & Hecla____25
660
331- 371* 3712 371.1 371., 37
29 Feb 1 4412 Sep 3
38
38
393, 1,895 Centennial__________ 25
3712 371? 38
2 1 Feb
36-3.1 Nov
Cons
Mercur
Gold___
1
.10
J’ne2G
*.12
•
H
i)
Jan
Is
*.12
.16 *.12 .16
.16 *.12 .15
L e s t S a l e .14
Dec’09
.25 Mch
8233 823* 82
82
82
82
811* 82
811* 811" l i s o 1Copper Range Con Co 100 681* Feb 26 863.1 Nov 1!)
8 U4 813*
837* Nov
5513 Feb
71 * Aiay28
12 Alch 19
7 Jan
SI2 81?
812 81*
81*
834 83., *81* 9
81"
285 Daly-West...................20
81.1 81*
1 Us Nov
113, 12
71 * Feb 1
8-3j Dec
i n 2 117* 1114 113., 1 U, HI* 3,055 East Butte Cop M in.. 10
l(i->8 Apr 20
117* 12
10 Dec
11'8 117*
13.,
11*
1 Oct 29
21* Jail la .99 Alch
23,1 Nov
13,3 13.3
150 Elm River__________ 12
* 1 % 134 *13* 13, 1 7-16 1 7-16
1'3
161* 163., 10*4 17 2,593 Franklin___________ 25
loi 2 16
151* 17
13 Feb 25 19 Aug 3
Gi* Apr
151* 151* 1534 16
191* Nov
103., 111 , 8 000 lilroux Consolidated. 5
IH4 1114 IH4 113* m * 113* 107g 1114 1034 1 1
103 103
104 104 rlO'il* 1031* 102 10312 1021* 104 ’
103 104
80 Jail
n o J’ly
670 Granby Consolidated.100 90 Feb 26 110 Jan 4
12
1214
121*
12
121*
07g Jan
12
I2 I4 12
9 Feb 2u
143g NovlO
12
121S
9,182 Ureeno Cananea_____20
113.1 12
1313 Aug
8U Sep 10
30 Dec 16
2212 241*
241* 2Sli 2734 291* 2734 283, 29
281* 291* 20,556 Hancock Consolidated 25
30
1
6 J’ly 21
6
612 O-ll
6
71 * Aug 9 ______
61,
O'.,
6
6*4
6I4
6*4 2,110 Helvetia Copper_____25
0<4 61?
263, 2514 2014 2512 261? 26
251.1 25U 241* 25
25
273s 7.531 Isle Koyalo (Copper). 25 2218 Apr 27 3314 Feb 19
173.1 Feb | 20*4 Jan
83* 81*
8
8
734
71 * Apr 30
81* S'*
8
925 Kerr Lake_________ _ 5
8
8
8
573.1 577* 583, 59
57
61
10 “ Jan 30 731* Dee 17
60
63
63
660 6534 7312 34,785 Lake Copper________ 25
io Sep
16
16-3* 10
16
16
16
16
163* 1612 19l8 9,313 La Salle Copper_____25
10Ji J’ly 10
19*8 Dec 17
161* 16
12i 1 Jan
171 i Jan
*034 7
7
7
634 07*
414 Alch 18
7
7
7
7
7
18*4 Alay2s
7
520 Mass Consol_________ 25
21.1 Alch
*.75 .99 *.75 .00 *.75 .90
.30 Apr 29 .75 NovlO
.75 .75 * .75 .90 * .75
400 Mayllowcr _________ 25
.90
.25 Jan .75 J’ly
47*
47*
*434
5
Mexico
Cons
M
&
S
..
10
51*
5
47*
47*
31*
Apr
16
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2
51*
353
6 NovlO
5M
5
31* Dec
8 Jan
5 1234 Feb 26 2 1 I3 Dec 17
207* 2053 21
2034
205* 20
191.1 493* 191* 203,s 20
I5i2 Dec
2 Us 20,387 Miami Copper_______
K-i’JSep
*634 7
534 Oct 15
*7
7->*
46U Michigan----------------- 25
I.3I4 Alch ,
71*
7'4 7*4 *7
71.1 Feb
151* Nov
7*4 712
75S
63
Mohawk------------------25
Cl
61
62
63 *61
*61
63
*61
*61
63
03
60
z571* J’ly 16 7013 Jau 8
45 ’ Feb
73 Nov
.13 .15
10
.10
.10
.13
.09 .10 .10 .10
.09
.09 3,480 Montana Consol C & C 10 .09 Dec 15 .40 Apr 6 .25 Dec
Mg Jan
27
273.1 27
267S 273g 6.799 Nevada Consolidated. 5 161* Feb 26 30 NovlO
271* 263, 27
37'* 27
8-3* Jan
27
27
20-34 Nov
Niplssing
Alines_____
5
103* 103., 10-34 11
103, 11
103* 103* 1034 1078 11
11
97,8 Oct 8 13 Sep 21
1,346
65
5G3.i 561* 57 I4 551* 5634 551* 501* 5513 583., 57
5S14 27,60S North Butte------------ 15
403.4 Feb
85*4 jait 2
893.1 Nov
47*4 J’ly 10
833
*814 8 l2
8
83*
81* 81*
SI4 81*
SI4 9
41* Alch 22 117g Aug 9
9 4,340 North Lake (58 paid). 25
♦___
.85
.85
.61 .70 *
.65 * .50 .75 * .50
.40 J’ne2i .85 'N o v 6 .56 Jan
.75
200 Old Colony.............. _ 25
52
*51
52 *511* 52*4 513* 5112 511* 52
52
52
54
47'4 Feb 24 69 Aug 11
28 Jan
590 Did Dominion_______25
*156 157
155 157 *155 158 *155 158
157 157
77 Feb
157
160
341 Dsceola------------------- 25 122 Feb 26 163 Novi!)
1351* Dec
2934
29
291* 291? 29
291* 28*8 293* 2912 293, 291* 293g 3,125 Parrott (Silver & Cop) 10 26 Feb 1 361.1 J’no ID lol* Jar.
♦85
86
84
851* 851* 8.V- *84
85
85
85
85
83 Dec 6 99 Jan -l
122 Julncy-------------------- 25
85
77 Feb 10') " Aug
21*
21*
Santa
Fc
(Gold
&
Cop)
10
21*
21*
27s
Jail
S
23*
2*2 25* *214
11
*
Nov
15
13
g
Apr
334
2*2
595
21*
2*2
161; 103a 1634 5,816 Shannon.................... 10
15*8 153* 151* 161., 16
1512 155* 1534 16
131* Feb 26 1773 Jan 4
93.4 Feb
62
62
62
62
611* 611* 6OI4 601., 61
661, 05
67 3,557 Superior------------------- 23 34 Jan 5 67 Dec 17
14 Apr
15*4 17
177* 17
147* 15
161* 16*8 1012 171? 17
177f. 21,904 Superior & Boston Min 10 1318 Nov 6 I8i* AIay28
igi4
107s 1,173 Superlor&PItts Copp. 10 127g Apr 27 181* J’ly 6
1714 I7 I4 163* 16-3* 101* 16'" 1012 1634 16!2 16'
1413 Oct
64
64
64
64
05
66
65
64
03
66
68
557 ramarack--------------- 25 62 J’ly 16 90 Feb 25
101* Id* 10
10
10
10
10
91* Deo 3 17*8 Jan 23
10I4 101* IOI4 10
10
929 rrlnlty_____________ 25
8
3734 373, 37U 373., 37
37
36
36»* 361s 3634 37
37
1,291 UnltcdStatesCoal&Oti 25 28 Jan 12 391* NovlO
557* 561* 55
65*4 5434 55!" 543, 5514 551.1 56
5f34 4,757 J S Smelt Ref & Min. 50 39 Feb 25 59 Sep 21
5*3.1
46*s NOV
5234
527* 53
5212 63
53
523,j 527* 521* 53
Do pref.......... ......50
521* 521* 1,161
44 Jan 8 54 Oct 4 37 Fcl)
47 Nov
45*
45* *H2
♦4>2 434
412 41*
412 41?
45s 1,217 Utah-Appx Alining__ 5
4>2 41,
4 Oct 29
6-3.1 Jan 26
43g Sep
7 Nov
45
45
45
453, 1,931 Utah Cortsolldated__ 5 37U Feb 24 4934 Nov2()
461? 447* 4512 443, 45
45
45
45
50 A llg
291* Jan
625*
621.i 63
63
0112 on 2 601* 01
607g 62
39-3.1 Feb 26 66 No/20
6OI1 607*
1,205 Utah Copper Co____ 10
53 Nov
28's
May
4
41*
41*
4
4
4
4'*
4*8 41,
41* ’ 76.', Victoria .................. .. 25
3 Oct 28
41,8 41*
f"2 Alay 6
2i* Apr
5 Nov
9
9U 101*
9-1*
973 103, 10\i 12
117S 131.1 12,31! W inona____________ 25
43.1 Apr 30 - 131.4 Dec 17
*f»8 91*
41* Jan
c~t *4 Nov
*145 148 *145 150 *145 148
145 145
145 145 M45
20 Wolverine__________ 25
139 Alcll IS 158 Aug 12 1151* Jan 175 Nov
23* 25*
*214 25*
2** 234
23.1 31,s 3 1-16 0I4 0,Si).9 W y a n d ot__________ 25
23., 273
2 Oct 6
3)3 Oct
■1 Ja11 16 .50 Alay
e Before pay’t of assess'ts called In 11)09. • illcl atnl asked prices. ~tfNcw stoc.r. c Ass’t paid. ft Rx-Stocll dlv. ft Ex-rlghts! a Ex-dlv. and rights.
*11512
*103
2OIV3
*10212
*155
*9212
Seattle
Do
Union
Do
13
H ig h e s t
673s Feb
125's Oct 2
831* Alel
1. 10G J’ne 7
< 239*4 Apr 8 18U-2 Jan
132*3 Apr 22 12 H* Dec
If 235 Alehl! 200*4 Feb
153 Nov < 114 Oct
1:
__ Con & Mont, Class 4..10C 170 Jan :(
___ Conn & Pass Rlv pref.IOC 139 Jan
Connecticut Ittver__ 106 267 Jan IS
90 Fitchburg', pref______100 128!" N ovll
75 Jan S
201 Ga Ry & Electric___ 100
65 Do pref_________ IOC
79 Jan D.
20
122
Y ea r
(1908)
100
12 c
221
1589
W eek ’ s
L a n g e o r
L a st S a le
P r ies
lY id a v
L ee 1 7
L a n g e
S in ce
J , J a n u a r y
Ao
1
P r ic e
W eek ? s
F r id a y
L u n g e o r
L ast s a le
L e e
17
-55
§ .0
aj1*3
L a n g e
S in ce
J a n u a r y
l
.Vo L o w H i g h
93
68 91*4 964 Illinois Steel deben 5 s ....1910 J-J
9234 Sale 924
9934 100 4' 993, Nov’0 9 ,....1
. 993»
Non-convert deben 5s...1913 A-O 1 0 04 100 V 10 0 4 1004 9 10041014
1044 lOS3, 106*4 D ec'03 .... 92 4 107*4
___
1117 A nr’0 8 __ II____ _____
83 Mar’0 9 .... 83
83 1 la Falls ASioux Cist 7s.. 1917 A-O
185 Nov’ 09 .... 130 190 1 Kan C Clin * Sur 1st 6 s...1925 A-O 96 ....... 964 Oct ’09 ....11 94
97
99*4109
904
994| ' 1 99 4 1 014
100 Sep’09 ...J100 101
94 O ct'09'---- 924 94*4 Kan C Ft S c o tt* M 0a....l928 M-N 117a4 Sale 117 '4 11784 7 llO*i 120>i
94
96
93*4 Nov’09,- — 93
94
94 4 Kan C M * B gen 4s..........1934 M-S 934 Sale 93
94
96
93 Hi 4 90
119 Dec’0 9 ---- 1 0 2 4 1 2 1 * 4
Assented income 5a.......1934 M-S 91
10 80 4 924
91
91
92
1204 Aug’ 0 9 ---- 10741204 Kan C & M Ry & Br lat 5al929 A-O 103*4 104 104 J’ne 09 .... 1034104
73 Si Maine Cent cons lat 7s...1912 A-O
113->s Nov’0rf
70 4
fl
65 69
Cons lat 4 s ............................ 1912A-O
110 Feb’041.—
101 *4 Sep ’05
100*4 Mar-09,..-. — 6*4 1004 Maro Hough&Ont la t 6 a. 1926 A-O
115 J’ne’08
Maas Gas 4 4 s ..................1929! J-J
14 I 97 4100
98*3 93
................. 104 ^ Oct ’08
84V 86
Mexican Central cons 4s.. 19111J . J
112 4 Jan ’031__
80 Mar’09
102 D ec’01)1.... <102 102
lat cons inc3s......... Jan 1939 J’ly
1 10 Apr’08
99 4 Jan ’09 .... 9il 4 994
2d cons ino 3a......... Jan 1939 J’ly
ii 1514 Apr’OS
100 .T’ne’011__
Mich Teleplat 5a..............1917' J-J
.......... 117 J’ue’OS1__
Minne Gen Elec con g 5s 1929; J. J
102 4 Aog’04
111 J’ly ’051__
N ow E ngC ot Yarn 6 s___ 1929 F-A 103>al04 103 4 103 4
1 102 4 I043i
SGL41 9 81
102 Feb’09 ...1 0 2 102
86
864 86
90 4 New Eng Telepli 6 s.......... 1915 A-O
5s.............................................1910A-O
11103 O ct’0 7 __
1004 sep ’08
99*4 J’ly '09— . 994 1004 New England cons g 5s...1945 J-J
........|.
10 14
l o t ’s 1 101 *s 10141 Boston Torm 1st 4s....... 1939! A-O
N Y N H * H con deb 3 4sl956 J-J
100 Oct ’09 . — 094 100
| 974199 4
99 K Deo*’09i’
Conv deb 6 s (c tfs )........ 1948 J-J
Mny’i’9,.— 1614 102
1424 Nov 09'.
134 1424
................. 102
Old Colony gold 4a................... 1924F-A
99 O ct’091— . 98*4 09
10 i A pr’09
101 101
Oreg
Ry
&
Nav
con
g
4
s
..1940
J-D
89 4 Nov’09!__ 894 92
934 Sep ’09
i 984 984
Oreg Sh Line lat g Oa...... 1922 F-A
11741194
117 4 Nov’09
Repub Valley 1st a I Os...1919 J-J
105 Deo’08
........1014 1014 1014 7 1014 104
Rutland lat con gen 4 4s. 1941' J - J
94
92 Nov’0 9 .— I 91
1074 Nov’05
Rutland-Canaillan 181481949, J-J
102 Mai’02
116 | 2 110 118*4
................. 116
19.<t TPAh’lMV__ 1_________ Savannah Eleo 1st cons 5a. 1952 J -J
984 May’OO . J
Seattle Eleo lat g 5s........ 1930 F-A
104 4 Oct ’09 ,...i|i'04 1064
103 Sep ’ 09,.— 1101 103
97 Apr’07
........ 1 0 2 4 102 4 103 4! 2 102 1064 Terro Haute Eleo g 6a___1929; J -J
100 Nov’09 .... 100 102
91 Dec ’0 7 ........................ Torrington 1st g 5a..........1918 M-S
1121a .Ian »03__ _________ Union Pac R R * 1g r g 48.1947 J-J
1024 Deo’09!
1 0 2 4 1034
20-year conv 4a............. 19271J - J
i o .'4 1 1 0 4
96 Feb’0 9 . . . 96
90
110 4 J’ne’091
9 8 Sals 90
91 Oct ’09 —
96 41 10 ;| 954 97
87
924 United Fruit gons 1 4 *118.1923 J-J
155 Dec ’09 , . . . 1 2 0 160
97 4 Nov 09 .... 904 974 U S Coal & Oil 1st a 1 6a.. 1933 M-N
103 L Am ’(15__
U S Steel Corp 10-00 yr 5a. 1963 M-N i05S Safe" 105
1054' 27 102 4 1084
96 Apr’0 8 __ 1
Weat End Street Ry 4a___1915 F-A
1004 Apr’09 ....' 10041004
Gold 4 *u8................................ 1914M-S
1014 J’ue’09 ...J 100 4 102 4
133 Mar’l)9 ...J 133 133
140 Apr’0 6 __ 1
Golu deoenture 4a..........1910 M-N
99 Nov’ 09
99 100 4
Gold 4s....................................1917F-A
964 974 90
964 47; 954 99
1004 oct ’09
99 4 1904
90 | 20 96 1004
98
964 ........ 954
98
»64| 10j| 964 984 Western Telepli * Tel 68.1932 J-J
Wisconsin Cent 1st gen 4al949|J-J
934 95 4
954 Apr’09
L in
A sk
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H ig h
L o w
H ig h
L iu
/ iS K l . o t i
H ig h
if
r*Jt>
Am Telev> & Tel coll tr 48.1929 J - J
Convertible 4 s .............. I960 M-8
Am Writ Pauer 1st s 15s u 1919 j . j
Ariz Com Cop 18t conv Os 1919 M- S
Aten Too & S Fe gen g 4 s.. 1995 A-O
Adjustment it 4s__ J’ly 1995 Nov
Stamped
......... J’ly 1995 M-N
60-year conv 4s...........1955 J-D
10-yenr conv 6s.......... 191 < J-D
Atl Quit & W ISS Lines 5s.’ o9 j -J
Hontoii Elect 1. Consol 68.1924 M-S
Koatou * Dowell 48......... 1; 19 J-J
Boston * .Maine4 ■as........!• 44 J-J
Boston Terminal 1st 3 *38.194/, F-A
Bur .to Mo Klv cons 08 .... 1918 J - J
Sinking lund 48............ 1; 10 J-J
Butte * Boston 1st 6 s....1917 A-O
Oedar Rap * Mo It 1st 7s. 191b M-N
•2d 7 s .............................. 1909; J-D
Cent Vermt 1st g4s..Mayl920 Q-F
0 B .to 4 Iowa Div lat 6s. 1919 A-O
Iowa Div 1st 4 s............ 1919 A-O
Debenture 6a.................1913 M-N
Denver Extern 4a...........1922 F-A
Nebraaka Eaten 4a...... 1927 M-N
BA S W a t 4s............... 1921.M-S
Illinois Div 3 >38............ 1949 J-J
Joint bonds S e e Ut Northern!
Ollio.) o Ry .to Stic Yds 6s .1916! J -J
Coll trust relumling g 4.81940 A-O
Cli Mil & St P lmb 1) Oa..1920 J-J
Ch M * St V Wla V -liv 0aI920! J. J
Ohio & No Mien 1st gu 5s.I93i M-N
Chic * W Midi gen fla__ 1921; J-D ;
Concord* Mont cons 4a.. 1920 J-D
Conn * Rasa K lat g 4a...1942 A-O
Current River 1st 5s....... 1927 A-O
DetUr R a p * \V lat 4s... 1946 A-O
Dominion Coal lat a I 5s..1910 M-N
Fitenburg 4a.................... 1916 M-8
4 a ...... ............................ 1927'M-S
(TremtElk&Mo V la t Oa.. 1933 A-O
Unstamped lat Os......... 1933 A-O
G tN o rC R * y coll tr4a 1921;J •J
Registered 4s................. IU2DQ-J
BONDS
BOSTON STOCK EXCH’ GE
W ekk Endivo dec 17
H2
S sl
P e rio d
BONDS
BOSTON STOCK EXOH’ GE
WltKK ENDINU DEO 17
In t’st
Boston Bond Record
D ec . '18 1909. j
N oth—Buyer pays accrued interest In addition to tho purchase price lor all Boston Bonds. * No price Friday; latest bid and asked.
11 Flat price.
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
Share Prices—Not Per Centum Prices
S a tu r d a y
L eo
11
M o n d a y
L e e 13
T u esd a y
L eo 14
IW
ed n esd a y
L ee
IB
L eo
D eo 1 0
S h a res
17
L a n g e
A C T IV E S T O C K S
S a les
o f
th e
W eek
j
i'r id a y
T h u rsd a y
( l o r
B o n d s a n d In a c tiv e
S to ck s see b e lo w )
J a n
Low est
S in ce
1
B a n g s
lifn n
| Mtuneei
lo r
I ’r e v i o u s
Y e a r (1 U ()8 >
j| Iaw csi
I tu n best
B altim ore
108
i b o '* :H O
169 4
27
♦ ..........
27
27
404 464
♦ 4 6 4 47
14
1 3 >4 14
894
46
47
12 4
604
28
794
304
46
47 4
12 4
67
28*V
8 0 :,4
394
40
■l7
1 123,
57
284
80 4
*114
354
47
474
124
57 4
284
81
|
27 4
1204
1*'3 '*
67 41
604 5 0 4 !
134 13 -v
234 284
85»ia 854 8fl“ ie86Wie
O'o 7*J
8-1
64
52 4 62 4
62 4 5 24
94
94 4
934 94
27 4 28
1184H 94
102 4 102 4
67
07 4
6 0 4 51
134 13 4
2 8 4 23 4
27 4
119
1024
07 4
PHILADELPHIA
1 10 1114 1 1 1 4 1 1 2 4
204 27
2 6 4 27
47
47 4 46 4 4 0 4
14 * ....... 14 4
14
394
47
17
12 4
504
28
804
12
27 4
117 4
394
47
474
12 4
67
2-4
804
12
28 1
1 18 4
10 14 D 24
07 4 6 i 4
6 0 4 6u4
134 194'
28 4 28 4
86
804!
7 4 7»io‘
524 6U-j|
944 9441
L td
A s k
39
3 8 4 38 V
47
47
4 0 4 47
47 4 4 7 4
4 64 47 4
124 124
1 2 4 12V
•50
67
*60
57
28
28 4
284
28
80
80 4
8 0 4 803,
12
* H 4 12
12
27
27
27
27
11041224 1224 1244
100
10 2 4
1014 102 4
074 074
074 67^
604 504
604 60 4
134 134
134 13 4
28
28
27 4 274
84 4 85*48 85 4 85 4
74 7 4
77ia 7 4
62
62 4
62
52
94 4 944
944 944
|!
inactive Stocks
........il
Allegheny V il prbf....60
30 4!
Amai Asbestos Corp.100 30
Preferred............... 190 904 0O34
Ameilcan .Milling...... 10
Amer Pipe MIg........100
Bell Telephone (Pa). 100
Cambria Iron.............. oO 464
Central Coal * Coke. 100
ConsolTraoof N J...100 77
Easton Con Electric 0.60
Elec Storage Batt__ 100 *66 * 67**
Preferred................ 100
Ft Wayne &W V ...... 100
Germantown Pass...... 60
Indianapolis St......... loo
Indiana Union Tr---- loo
Insurance Co ot N A .. 10 *23** *2*34
Inter Sin Pow & Chera.60
12
Keystone Telephone ..50
12 4
Preferred................. 60
KeystoneWatchCaae.100
*16
Lit Brothers................ 19
Little Schuylkill......... 50
Mlnelilll * Schuyl H..50
N Haven I r o n * Steel.5
Northern Central........50 iV i‘ " 1 *1*2 **
Nortli Pennsylvania..60 10 0 4
17
Pennsyl 11R warrants...
174
Pennsylvania sail...... 60
Pennsylvania c-ieel..l00
Prclerred................100
Plilla Co(Pilts) prel...60 444 46
PliU German & Norris.50
Phila Traction.............50 ‘ *8 8 *' "8*9**
Railways General...... 10
94 10
Snsqueh Iron * Steel..5
Tidewater Steel......... 10
Pro Ierred..................10
Union Tr of 1ml........100
United N J lilt * 0 . . 100
Unit Trac Pitts pref..5<)
1*1*4
Warwick Iron * Steel, lo
614
West Jersey * SeaSli.50
Westmoreland Coal....50
Wilkes Gas * Klee..100 *80**
Bidaml asked; no sales on this day.
Oon.Gaa El. L. * Pow.100 30 Mar 8 434 May 12
‘ 35
87
Do prel.................100 76 MarlO' 89 MaylS
•80
81
1164121' 2,621 Northern Central. 60 100 Jan 4 1214 Deo
i7
112 116
264
264 1,242 Seaboard (new)............. 100 114 Feb26 284 Deo 7
204 26 4
464
46 ‘3 332|
Do 2d prof............. 100 224 Feb24 48 Deo 7
40 4 46 4
•T4
144 400 United Ry * Electrio.. 60
9 4 Feb 3 144Deo 3
44
PH ILADELPHIA
Philadelphia
1 3 0 A m e r i c a n C e m e n t ........... 6 0 3 7 V A p r 13
334 384
493 A m e r i c a n Railways.... 6 0 4 4 4 J ’ l y 8
474
4 7 4 474 12,745!Cambria Steel.............. 60| 3 2 7» F e u 2 3
187| Electric Co of America 1 0 * 1 0 4 J a n 2 0
* 1 2 4 12 4
143 Eleo Storage Battery.. 1 0 0 4 3 J a n 3 0
•56
67
2.7-9 ceil Asphalt tr etta__ 1 0 0 15 4 J a n o
27 4 28
804 804 1,’J96|
Do prel tr c tls __ 100 5 3 J a n 6
*12
65 Keystone Telephone... 60 9 4 J a u . 1
12 4
100 1 4 4 J a n 6
27 4 27 4 2,304 cake superior Corp
I•Atnvli 1’
Muvtrr
LemgU
0 A&x Nav
tr ctls. 6 0 9 6 J a n 6
1234 126 4
lOi 1014 *25,1 V1 Lehigh Valley.............. 6 0 67 F»b23
67 4 674 4,7.4 Pennsylvania lilt........ 6 0 0 3 4 F e b 2 4
1149 4 494 1,749 PUiladelp’aCo (Ptttab). 6 0 4 0 4 F e b 2 4
134 13 ‘v 6,72 1 Philadelphia Electric!. 2 5 1 1 4 F e b 2 3
274 7,036 Phi la Rapid Transit... 5 0 2 4 4 J a u 5
27
844 854a 9,40 • Heading....................... 5 0 6 9 4 F e b 2 3
7 4 74 »,o 1; Tonopah Alining ........ 1 5 4 J a n 1 6
62
62 4 1,926 Union Traction........... 5 0 £ 0 4 J a i l 5
94 4 95 4 8,788 United Gas linpt......... 5 0 8 4 4 M a y 1 3
*47
1
L id
\ A s k
Ronds
P r ice s a re a ll “ a n d
in te r e s t."
A1 Val E ext 7s 1910 A-O
A lt*L V E leo 1 4s’33.F-A
AmKysconv5s 1011.J-D
Atl City 1st 6s g ’ 19.M-NI
Berg* EBrw 1st 6s’21 J -J'
Both 10 Steel Cs 1998.U-F,
Clioo * Mo 1st 5s 1949 J -J
Ch (Jk & G gen 6s’ 19 J J
Col St Ry 1st con 6s 1932
Con Trac ot N J 1st 5s.’33
E * A 1st M 5s 1920 M-N
Elec * Peo Tr stk tr ctls
Kq II G as-Iilstg6s 1928
Indianapolis Ry 48.1933
Interstate 4s 1943 ..F-A
Lehigh Nav 44s ’14.Q-J
lilts 4s g...... 1914.(J-F
Gen M 44s g,1924.U-F
Leh V C 1st 5s g ’33..J-J
Leh V ext 4s 1st1948. J-D
2d 7s 1910.............. M-S
Consol 6s 1923...... J-I)
Annuity 6s.............J-D
Gon cons 4s 2003.M-N
Leh V Tran con 4s’3jJ.D
NewConGasSs 1948 J-D
Newark Pass con os 1930
N Y P h * N o ls t 4 s ’39 J -J
Income 4s 1939...M-N
NoOliioTrao con5s’ 19.J-J
Poun gen 6s 1910 ... Var
Consol 68 1919__ Var
Penn * Md Steel con 6s.
Pa * NY Can 6s '39. A-O
Con 4s 1939........... a -O
Penu Steel 1st 5s '17 M-N
People’s T rtr certs 4s ’43
P Co 1st A col tr 6s’49 M-S
Con* col tr 6s 1951M-N
Phil Elec gold trust ctfs.
Trust certlfs 4s.........
P * E gen. M 6 g ’20. A-O
Gen M 4s g 1920.. AttoO
93
99
1 1 0 4 ......
110 111
104 4 106
90 4 904
106
61 4
1084
106 108
1184 1204
147
964 96 4
}
PHILADELPHIA
j
i’ ll * Read 2d 6s ’33. A-O
Con M 7s 1911...... J-D
Ex Imp 61 48 g ’47.A-O
Terminal 6s gl941.<4-F
P W * B col tr 4 s ’21.J-J
Portland Ry 1st os 1930.
ltooh Ry<to Leon 6 s ’6 1J -J
SnauisU-Ain Ir 6 s ’ 27 J J
U Trac iml geu 0s’ 19.J-J
Un ltys Tr ctls 4s’49J*J
United ltys Invlstcolltr
si..s 1026.............. M-N
U Trao Pit geu 6 s ’97 J-J
Weis bach s f 6 s 1930.J-D
Wlks-B GttoKcou5s’65J-J
11ALT LUO III,
Inactive .Stocks
Ala Cons Coal* I ion. 100
P rel......................... 100
A Manta & Charlotte.. 100
Atlan Coast L (Conn)lOO
Canton Co..................100
Cons Cot Duck Corp...60
Prelerred................. 60
Georgia S o u * Fla...100
1 st prel................... 100
2 d prel.................... 100
G-B-S Brewing......... 100
Bonds
P r i c e s a r e a l l • 'a n d
100 4
in to te s t."
Anacostia* Pot 6 s.........
Atl * Ch ext 4 48 ’ 10.J-J
Atlan C L UR4sl962M-S
Atl Coast L(Ct)ctfs 6 s J-D
Ctls ot inuebt 4s....J-J
6-20 yr 4s 1925........J-J
Balt CPass 1st 6 s ’ l l M-N
Balt Fundg 5s.1916 M-N
Exchange 3 4s 1930 J -J
964
104 104 4 B alt* P 1st 6 s 111 I’ l l A-O
B S P * C l st4 48 ’ 53F-A
97
98
Balt Trao 1st 6s.."29 M-N
loov 101
No Balt Divas 1942 J-D
74 4 744
Cent’ i Rycou5sl932 M-N
E x t* Imp as.1932 M-S
1! Kx-ri-Mits. ||$7.50 paid, t $124 paid. t$134pald. {$35 paid,
L id
, A s k
!
43
Jan 2
Deo 13
49 Sep 2 L
12 4 j l y 14
634 J’ly 30
29 Dec 10
814 Deo 10
16
.\pt i9
3 3 4 May 3
125 4 Dec .7
113 sep 2 1
764 sep 29
614 Deo 9
47
20
05
80
4
10
10
Jan
30
M ar 81
J a n 102
F eo
15
F eb
26
Jan
12
324
424
2 6 7a
84
24 4
3 4
.Vlat 4 3
M ai
40
F eb
40'
J a n 1 11*
F eb
4 1•
Jan
19:
Deo
4 4 aan
9 May
3 4 Feb 17 Deo
78 4 Jan 974 Dec
624 Fob 704 Deo
54»ia Jan «i*ie Deo
34 4 .uai 4 4 4 Deo
1 3 4 Oct 11
6 4 Feb 1 2 4 Nov
36 1 - in 28 d l‘2 •* rue 25 4 Deo
86 >, Sep 21 483j„ Feb -1**16 Deo
7*a,, AlaroO
3 4 J an
0 4 Apr
6 8 4 .May 4 *444 J’ne 50 4 Apr
95 4 Deo 6; 734 Jan 944 Deo
BA 1.1 I .MlMli i
|
L IU
IA
s k
Chas City Ry 1st os’23J-J 160
........ ....... I Chas Ry U Co t,l as '99 M-S 90
92 4
i u*i i Chari C * A 2d /s’ lo A-O 101
........
City&SuO 1st 5s.. ’22 J-D lo7 U;9
C ity* suoiW as)lst5s’48 102 4 103
Coal * 1 Ry 1 st 6s ’ 20 F-A 1 0 1 V 1 0 2 4
Col AGrnv 1st 6s.1916 J-J 1 100 ll;9
10 23j 103 consol Gas 08...1910 J-D, loo 1004
...... ..... .
5s............... ..1939 J-D 1 10 1104
7b 1 79
G aA A Ialsl coil 6s '45 J -J 106 100
Ga Car * N i st 5s g ”29 J -J 105 4 1053,
0
Georgua P 1st 6s.. . ”22 J-J 1EI34 ......
85 V 86
10?
GaSo* Fla 1st 6s 1945J-J 1U8 100
87
87 4 G-B-S Blew 3-4s 1951M-S 43
43*4
100 lu2
2d income os 1951 M-N
1i 4 124
Kuoxv Trac lsl 6s”28A-0 104 106
LakeR El 1st gu5s’4251-S U o
...... ...... Macon Ry A c t lst6s’58J-J 95 ■9*0*
Meinptiis st tut os’ 45 J -J 90 ■« 0934
....... 1------- oMeUSMWas)i)lst58’25 ITA lOo
325 335
Alt Ver Cot Duck 1st 6s.
18
”78 4
102 lA'6 N pt N&u P 1st 6s’3b M-N
7 Norfolk St 1st 5s*44..J-J 105
o \
21 4 Norm Cent 4 4s 1925 A-O
21
40
33
Series A 6s 1926....J-J 112
Series B 5s 1926__ J-J 112
934 944
73
Pitt 9u Trac 5s 1997.J-J
24 i ’oto Val 1 st 6s 1941..J-J 105
14
Sav Fla* West o s ’34 A-O 108
Seaboard A i.4s 1950 A-O 83*h 844
Seau * Koau os 1920.J-J 106
1014 102 South Bound 1st os..A-U 106
U El 1-te P 1st 4 4s”29 AI-N 92
93
UoKyds El lsl 4s’49 Al-S 87 4 87 4
944 95
Income 4s 1949....... J-D 6934 60
103 10J
89
Funding osl9J6...J-D
84 > 84V
b74
93
92
VaAlnl 2d ser 6s ’ ll.M -S 10 0 ‘4 102
100*4 10U3,
3d series 6s 1916..Al-s ,n5
105 1118
4th set 3-4-5s 1921. Al-s |uo
99
5th senes 6s 1926. AI - .01
99 4
101
92
Va (mate)
new '32.J-o
93S 94
Fund debt 2-Ha 1U91M -J 92
108 110 West N C con 6s 1914 J -J 100 100
110 114
WesVaCAP xsidg’ l l J-J LOl s. 101*4
107 LOO W il* Weld 6s..iJ36.J-J 111 113
^......
___
. ____
1----- a Receipts. 6 $25 paid, c $30 paid. d$ 12 4 paid.
1590
THE CHRONICLE
[VOL. LXXXIX
Im restm ent a n d R a i lr o a d lu td lm e n c e .
R A I L R O A D
G R O S S
E A R N I N G S .
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
Columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
■tatement to show the fiscal year totals of those roads whose fiscal year does not begin with .fuiy, but covers some other
period. The returns of the electric railways are brought together separately on a subsequent page.
L a test
H O A D S .
G ross
July 1
I '.a m in o s .
C u rren t
Y ea r.
W eek or
M o n th .
to
I .a le s l
L a te st
D a te .
P r ev io u s
C u rren t
P r ev io u s
Y ea r.
Y ea r.
Y ea r.
$
$
S
$
64,000
34,000
28,000
6,677
9,444,348
47,691
2,503,776
7,351,675
256,084
7,083
3,914,354
3.828
150,213
220,733
321,300
1,905,000
240,000
2,459,702
352,358
t ,878
571,712
238.191
8,363,547
1 116,055
108,427
York ( en
1,029,687
6,553,305
7,499,670
1,494,236
95,403
885,624
4 ork ( en
243,962
305,901
27,172
62,558
14,020
39,57 5
156,698
1,618,919
59,000
31,000
28,000
0,025
8,278 316
46,061
2,222,773
6,306,422
293,945
6,101
3,002,371
4,445
135,405
223,617
217,500
1,548,000
245,000
2,187.712
324,010
1,540
518,214
225,464
7,688,451
1,102,695
94,128
uat.
1,255,792
622,014
530,785
24,091
34,879,235
1,107,144
8,334,508
37,233,833
950,550
28,145
15,573,202
19,181
4,335,110
884,406
5,950,400
13,457,789
5,400,393
9,182,359
1,370,465
34,531
13,640,375
6,259,710
30,896,895
3,978,458
2,089,093
1,057,007
507,978
506,094
19,333
30,711,077
852,632
7,443,285
32,041,375
053,107
31,441
14,045,075
20,378
3,470,221
773,177
4,924,700
35,156,480
5,144,908
8,705,113
1,272,822
37,767
11,665,541
5,846,267
28,227,597
W eek
or
M o n th .
Y C & Hud Rlv. October__
Lake Shore A M S October__
n Lake E A West October__
Chic Ind A South October__
Michigan Centra! October__
Clev C C A St L_ October__
Peoria & Eastern October__
Cincinnati North. October__
Pitts A Lake Erie October__
Rutland .............. October__
N Y Chic A St I October__
Total all lines___ O ctober___
N Y Ont * Western October . .
N Y N H 4 Halt-. r October__
N Y Sus(i A We~r , October__
Norfolk & South- r October__
Norfolk & Western. October__
Northern Central.. October__
Northern Pacific..r October__
Pacific Coast Co__ October___
Pennsylvania C o..r October__
U Penn— E of P & K October . . .
d West of P & E . O ctober...
Perc Marquette__ r October___
Phlla Halt A Wasti. October__
tlhic Ilia A Loulsv 1st wk Dee
2,434,730 Pitts CIn Cli A St I., October__
(,.iie in f A Soui hit i —-ee New
Raleigh A Southp't October__
Chic MIlAPugctS
Reading Company.
6,346,804 23,010,680 22,444,546
Chic MilwASt Paul r October__
Phlla A Reading-. October . .
27,238,044
24,443,908
0,020,251
r
October__
Chic A Nor W est..
Coal A Iron C o .. October _.
1,403,449 5,261,453 4,784,419
Total both cos__ October . .
Chic St P M A O .. r October__
278,06 5 Rich Fred A Pot__ October
285,910
Chic Term T r a n .. i September
95,414
749,211 3,330,249 2,885,487 Rio Grande June__ September
CIn Ham ft Day. .r October__
( lev C m (',,.<• , t
—'•ee New
1Y P *.
Rio Grande S outh.. 1st wk Dec
867,475
808,712 Rock Island System October
207,685
Colorado Midland. r October__
305,119 7,500,221 0,984,105
St L & San I-'ran. October . .
I t Colorado A South (st wk Dec
91,657
91,786
Chic * East III.. October _.
23,617
Colu m Newb A Lau October__
/■ Kvansv A Ter f t October . .
140,479
147,020
Copper Range___ August__
71,220
Total of all lines. October . .
56,644
21,920
Cornwall ___
. . October__
7,632
153,312
102,203 St Jos A Gr Island. October__
30,873
Cornwall A Leban. r October__
Cuba Railroad___ October....
641,234
556,052. St Louis Southwest- 1st wk Dec
133,105
l Delaware A Ilud September
1,653,683 4,867,835 4,716,826 San Pcd L A A S L. October__
->,124,764 12,257,177 11,383 ,800 Seaboard Air Llne.r October__
Denv A Rio Gratulc 1st wk Dec 395,600 383,900 10,873,490 9,592,177
Atlatna A Ilirm.r October__
Denver N W A Pac 4th wk Nov
489,388
15,897
360,781
13,708
Florida W Shore r October__
31,044
30,856
728,295
Det Tot A Iront syst 1st wk Dec
772,695 Southern Indiana .r October__
818,649
38,442
Ann Arbor____ 1st wk Dec
34,015
823,359 c Southern Pac C o.. October__
Detroit A Mackinac 1st wk Dec
19,614
533,447
18,550
490,501 Southern R ailway.. 1st wk Dec
Mobile A Ohio__ 1st wk Dec
Dul A Iron Range. r October__ 1,280,069 1,066,656 5,484,405 3,999,075
CIn N O & T P __ 1st wk Dec
49,576
Dul Sou Sli A Atl. 1st wk Dec
50,507 1,525,770 1,222,004
Ala Gt Southern. 1st wk Dec
584,996 589,641 2,328,575 2,158,083
El Paso A Sou IV.. r October__
Georgia So A Fla. 1st wk Dec
E r ie ____________ October__ 5,180,085 4,800,250 18,894,541 17,791,269
Texas Central____ 1st wk Dec
Evansville A j ei r. Haute—See Rock Is land Svsl cm.
Fairchild A Nor E. October__
1,884
7,502
6,727 Texas A Pacific___ 1st wk Dec
1,820
Fonda Johns A Glov Octc oer__
71,108
321,660
286,104 Tidewater A West, r October__
61,383
Georgia Railroad. Octooer__
317,441 306,880 1,012,803
087,609 Toledo A Ohio Cent October__
(.: nor .da South A C1 —See sout hern Rnl a a.v.
Toledo Peor A West 1st wk Dec
Grand Trunk Syst. 1st wk Dec 708,837 691,243 20,101,524 18,461,569 Toledo St L & West 1st wk Dec
Gr Trunk West
1st wk Dec 103,470 115,395 2,692,240 2,494,490 Tomblgbee Valley.. October__
39,161
900,109
Det Gr Hav A Mil 1st wk Dec
36,845
789,007 Union Pacific Sy«._ October__
46,184
979,934
.37,040
898,408 Vandalia_________ r October__
Ct lada Atlantic 1st wk Dec
Great Northern Syst November. 5,062,487 5,673,562 30,905,343 26,609,911 Virginia A Sou West October__
207,313 170,089
693,603
590,677 W abash____ ■ __ _ 2d wk Dec
Gulf A Ship Island October__
754,864
2,663,082
2,455,451 Western Maryland r September
661,505
Hocking Valley— October__
Illinois Central— * November. 5,421,480 5,074,164 25,622,483 24,031,642 West Jer A Seashore October__
Internatl A Gt Nor 1st wk Dec 153,000 102,000 3,877,781 3,708,602 Wheeling A L E_.r October__
a Intcroceanlc Mcx
1st wk Dec 120,909 131 ,085 2,004,138 2,704,161 W hltcRiv(Vt)2 wits end Nov 20
50,575
Iowa Central____
1st wk Dec
53,352 1,505,493 1,325,811 Wrlghtsvllle A Tenn October__
937,125
846,845 Yazoo A Miss Vail. November.
255,536 228,584
Kanawha A Mich. October . .
861,807 803.910 3,018,670 2.931.294
Kansas City South October__
477,088
50,200
736,479
K C Mcx A Orient- 4th wk Nov
38,700
V a r io u s E is c a l Y ea r s.
Lehigh Valley. . . October__ 3,344,380 3,227,459 11,912,705 11,514,664
34,866
143,571
151,302
Lexington A East. October__
35,441
Ilellcfontc Central____________
I n c . 499, 308
Long Island . . . . Octt >er__ I n c . 116, 13 5
141,457
382,543 l Delaware A Hudson_________
Louisiana A Arkan Octooer__
09,821
427,820
101,591
390,844
352,102 Manlstlque_______________ ___
Lou Hend A St L__ r October__
07,982
Loulsv A Nashv.. 1st wk Dec 1,038,745 943,870 22,296,933 20,415,487 a Mexican Railway....................
1 1,219
Macon A Blrm’ ham November.
64,290
11,815
01,448 a Mexican Southern........ ...........
Maine Central----- r October__
782,135 757,4 58 3,252,152 3,068,675 c N Y Central ft Hudson River.
22,855
Lake Shore ft Michigan South
3,148
16,721
3,907
Manlstique_______ November.
Maryland A Penna October__
149,013
39,567
36,390
140,641
n Lake Erie ft Western_____
a Mexican Internat .. 1st wk Dec
130,116 128,287 3,515,034 2,960,848
Chicago Indiana ft Southern.
ist wk Dec 157,200 147,000 3,341,100 2,977,600
a Mexican Railway
MloW^an Central___________
a Mexican Southern 1st wk Dec
548,938
22,882
Clev t in Chicago ft St Louis..
23,034
536,008
53 INciv Y or!< ? *ntr 1.
h . or mm‘i Centn —
Peoria ft Eastern___________
Mineral Range----- 1st wk Dec
384,587
15,327
15,141
381,630
Cincinnati Northern________
Mlnneap A St Louis 1st wk Dec
70,861
80,438 2,383,355 1,995,499
Pittsburgh A Lake Erie____
Minn St P A S S 51] 1st wk Dec 313,688 340,134 11,179,857 9,710,701
R utlan d _____ _____ _______
Chicago Dlvi- lon)
N Y Chicago ft St I-ouIs____
Total all lines ______________
Missouri Kan A Tex November. 2,433,439 2,318,001 11,858,586 11,583,493
Mo Pa j A Iron au
Northern Central_____________
Central Branch. j 1st wk Dec 891,000 817,000 23,662,276 20,753,735 d Penn— East of Plttsb ft E rle..
692,910
( I We3t of Pittsburgh ft Erie_.
b Mobile Jack A K C IVk Dec 4
36,190
38,208
655,163
Nashv Chatt A St 1 October__ 1,009,213 1,014,390 3,790,626 3,703,519 Phlla Baltimore* Washington..
a Nat Rys of Mcx.
Ist wk Dec 056,680 947,591 20,619,834 10,500,466 Pitts CIn Chicago & St Souls__
241,371
Nevada-Cal-Oregon 1st wk Dec
8,024
8,961
179,670 Rio Gramle Junction___ ___. . .
25,315
Texas & P a cfllc________. . . . .
430,656
N 6 Great North — October__
117,863
48J421
172,882 West Jersey & Seashore_______
Ala N O * Tex Pac
N O ft N E ast.. r
Ala ft VIcksb__ r
Vicks Shr & Pac r
Ala Tenn A North.
fc Atch Too A S Fe
Atlanta lilrm & Atl
Atlantic Coast Lin
^Baltimore ft Ohio
Bangor ft Aroostook
Bellcfonte Central.
Boston & Maine... r
Bridgeton A Saco R
Buff Roch A Pitts. r
Buffalo A Susq — r
Canadian Northern
Canadian Pacific..
Central of Georgia.
Central of New Jer
Central Vermont.. r
Chattanooga South
Chesapeake A Ohio
Chicago A Alton Uy
Cldc Curl A Quincy r
2d wk Nov
2d wk Nov
2d wk Nov
October__
October__
1st wk Dee
October__
November.
October__
November.
October__
October__
2d wk Dec
October__
1st wk Dec
1st wk Dec
1st wk Dec
October__
October__
4th wk Nov
1st wk Dec
1st wk Dec
October . .
e N
July 1
G ro ss E a rn in q s .
C u rren t
P r ev io u s
Y ea r.
Y ea r.
to
L a te st
C u rren t
Y ea r.
S
8,880,032 8,131 ,768 34,064,681
4,307,470 3,795 ,519 16,793,473
505,275 420 508 1,909,890
3 24,801 238 062 1,144,442
700,718 ,386, 294 9,053,286
2,585,574 ,374, 403 10,126,597
204,330 258, 844 1,126,319
110,070 111, 184
450,826
1,601,088 1,190, 967 6,053,790
321,384 275, 560 1,203,761
984,127 850, 965 3,538,272
22632 885 20034 074 86,365,382
702,628 688, 362 3,134,981
5,417,411 4,935 338 20,969,571
326,381 294, 822 1,128,372
229,268 199, 167
862,930
3,015,354 2,529, 667 11,553,005
1,245,307 1,115, 707 4,360,977
7,793,073 7,269, 067 28.091.368
758,929 636, 697 3,030,650
4,944,045 3,971, 243 19,011,073
14773 884 12794 08 1 55,079,207
Zfic.l ,51 1,000
Die.5,932,
1,509,464 1,381, 244 5,549,902
1,564,481 1,449, 581 0,106,176
2,909,747 2,506, 212 11.096.368
48,535
12, 266
14,205
4,062,620
3,444,847
7,507,467
169,694
96, 250
9, 549
6,410, 161
3,828,766
1,085,710
216,428
11541068
172,227
234,000
709, 265
1,030, 351
01,878
1 1, 373
133, 243
12654 702
1,153, 232
205,862
168,105
71,820
42,007
22,181
310,284
6.276
365.588
18, 132
71, 357
6,271
8,890,381
919,443
111. 704
529, 243
010,392
437,630
619,874
1,606
37,809
1,008 244
3,712,075 14,343,385
3,513,484 8,860,000
7,225,559 23,203,385
651,229
151,220
267,615
83,675
12,754
222,892
5,632,499 23,777,070
3,517,730 14,327,639
936,056 3,899,589
196,323
861 ,778
10282609 42,866,076
166,118
615,908
218,08 1 5,074,388
640,718 2,828,048
1,437,952 5,620,313
87,508
342,729
9,888
32,252
479,601)
1 15,672
11069855 40,31 1,921
t ,093,843 25,302,308
109,492 4,476,496
138,606 3,850,322
64,624 1,721,090
984,442
41,592
470,349
29,713
320,877 6,956,481
6,206
20,065
463,826 1,487,103
17,745
513,435
03,909 1,705,458
6,720
25,122
7,675,805 32,474,222
841,112 3,310,456
119.658
416,781
492,937 13,586,050
538,653 1,733,047
392,030 2,613,069
517,199 2,471,015
1,022
34,243
110,516
1,146,398 4,322,149
P e r io t.
Jan 1 to
Tan 1 to
Jon i to
to
Jan l to
Ian 1 to
Jan l to
fan 1 to
Jan l to
Jan 1 to
Ian 1 to
Jan l to
to
Jan 1 to
Ja n 1 to
Jan l to
Jan
rail
f;vn
fan
Js«
Dec
1 to
1 to
I to
1 to
l to
l to
Jan 1 to
Nov
Sept
Nov
Deo
Dec
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Sept
Dec
Oct
G a te
P r ev io u s
Y ea r.
30,910,864
14.346.207
1,651,023
880,067
8,673,555
9,039,672
974,396
408,199
4,404,317
1,067,914
3,048,536
75,404,750
3,080,091
18,084,525
1,031,127
745,381
0,912,389
3,073,577
25,586,222
2 3ff7,910
15,033,293
17.810.207
000
4,008,4 94
5,602,976
0,387.559
39,580
13,028,823
10,104,040
23,132,862
569,545
220,039
283,102
21,336,108
12,773,033
3,456,345
777,981
38,343,408
604,152
4,740,705
2,304,577
4,941,782
309,878
28,188
427,253
11,102,992
22,956,438
4,242,478
3,381,764
1,559,407
816,139
553,826
6,604,578
24,083
1,825,451
505,718
1,578,714
22,134
28,815,555
3,088,518
424,207
12,204,324
1,544,431
2,414,769
2,115,305
95,167
4,162,933
C u rren t
P r ev io u s
Y ea r.
Y ea r.
$59,983
30
$57,397
30 11,002,51 1 13,534,289
50,700
37,985
30
7 7,015,500 6,925,501)
7 1,249,434 1,475,115
31 76,638,4 51 09,221,458
31 37,038,582 32,172,797
31 4,077,233 3,607,140
31 2,571,125 2,105,472
34 22,543,054 "0,004,463
31 22,634,621 19,890,397
31 2,462,701 2,238,460
801,11 5
975,458
31
81 11,836,434 8,492,033
31 2,573,816 2,301 ,405
31 8,209,747 7,557,555
31 l 0 1no 1 822 168 15.) 283
3 1 10,072,071 9,404,871
31 125222 156 111833356
31) Die. 10,73 3,500
3 1 14,63 1,387 13,4 03,087
31 24.738,128 21,612.102
765,501
63 7,135
30
7 13,574,013 12,602,137
31 5,041,421 4,687,021
AGGREGATES OF GROS3 EARNINGS—Weekly an4 Monthly.
I ’ r c v 'c
Y ea r
In c . or D ec.
G u r’nt Y ea r
M o n th ly S u m m a r ies .
%
%
$
8
S
8.34
174.497,319
15,18$,925
101,058,607 + 13,438,712
4th week Sept (43 roads)___ 17,285,767
4-2,099.842 13.82 I Month Feb 1909 (893 roads).
Month Mch 1909 (890 roads). 205,708,810 183,453,906 + 22,254,413 42.13
1st week Oct (4 2 i'oads)___ 13,209,000 11,533,885 + 1,673,115 14.56
2d week Oct (47 roads)___ 13,437,556 11,949,105 + 1,488,451 12.46 | Month April 1909 (895 loads). 197,01 1,539 175.002,648 + 2,008,891 12.50
3d week Oct (45 roads)___ 13,572,117 12,667,923 + 1,504.194 12.47 i Month May 19 09 (893 roads). 201.625,122 174,475,411 + 27,149,71 1 15.58
4th week Oct (49 roads)___ 19,677,242 17,798,946 + 1,878,296 10.55 Month June 190 9 (893 roads). 210,357,226 183,983 829 + 20,373,397 14.33
1st week Nov (43 roads)___ 12,975,231 11,193,399 + 1,781,832 15.92 1 .Month J illy 1909 (816 roads). 198,405,220 175,898,726 + 22,500,593 12.83
Month Arg 1909 (724 roads). 225,488,923 197,928,775 + 27.560.148 n .o2
2d week Nov (45 roads)___ 13.450,158 11,691,325 + 1.758,833 15.05
Month Sept 11*)9 (711 roads). 236,874,425 211,281,315 + 25,593,110 12.11
3d week Nov <44 roads)___ 13,003,412 11,852,248 + 1,151 ,164 9.71
4th week Nov (42 roads).__ 16,900,874 13,971,227 + 2,929,647 20.97 . Month Oct 1909 (099 roads). 251,187,152 225,1 (, 9/822 + 26,077,330 11. r>s
1st week Dee (43 roads)___ 12.059,588 11,032,034 + 1,027,554 9.31 1 Month Nov lf.09 ( 4 5 roads) _ 65,522,732 58,007,375 + 7,515,357 12.01
a Mexican currency,
h Includes earnings of Gulf & Chicago Division,
c Includr i the Houston A Texas Central and Its subsidiary Hues In both
years. <1 C-vers lines directly operated, e Includes the New York * Ot -,wa, the St. Lawrence & Adirondack and the Ottawa ft N. Y. Ry.. tho latter
at which, being a Canadian road, doos not make returns to the Inter-State Commerce Coinmls; on. f Includes Evansville * Indians Hit. a Include!
t 10 Cleveland Lorain & Wheeling lty In both years
h Includes earnings of Colorado
& Southern, Fort Worth & Denver City and n'l affiliated lliuy>. cxcenung Trinity & Brazos Valley Uil. k Includes In both years earnings of Denver Enid ft Gulf Hit., Pecos Valley System and Santa l-e Prescett ft
Phoenix Ry. I These figures do not
Include receipts from sale of coal, n Includes the Northern Ohio fill, n Figures here n v 0:1 the old basis of ac
counting— not the new or Inter-State Commerce Commission method, p Includes c irnlngs ot Mason City A r Dodge and \\ Ise. Minn. & Pacific, r These
figures are on new basis prescribed by Inter-State Commerce Commission.
W e e k ly
u n r .ia r ie s .
C u r 'n t
Y ea r
P r 'e v 's
%
Y ea r
In c. or D ec.
THE CHRONICLE
D ec . 18 1909.1
Latest Gross Earnings by Weeks.— In the table which
follows we sum up separately the earnings for the first week
of December. The table covers 43 roads and shows 9.31%
increase in the aggregate over the same week last year.
F ir st
W eek
o f
1909.
D ecem b er.
1908.
I n c r e a s e '.
S
S
64,624
71,820
Alabama Great Southern.
46,061
47,691
Atlanta Birmingham & Atlantic
155,467
135,405
Buffalo Rochester & Pittsburgh
321,300
217,500
Canadian Northern----------------Canadian Pacific-------------------- 1,905,000 1,548,000
240,000
24 5,600
Central of Georgia — ...............
571.712
518,214
Chesapeake & Ohio................... 238,194
225,464
Chicago & A lto n -------------- —
108,427
94,128
Chicago Indianapolis & Loulsv.
168,195
138,606
Cin New Oileans & Texas Pac_.
305,904
305,119
Colorado & Southern------------395,600
383,900
Denver & Rio Grande-------------19,614
18,550
Detroit & Mackinac--------------31,044
30,856
Detroit Toledo & Ironton------38,442
34,015
Ann A rb o r------------------------■49,576
Duluth South Shore & Atlantic
50,507
42,007
Georgia Southern & Florida.
41,592
Grand Trunk of Canada------Grand Trunk Western----798,837
691,243
Detroit Grand Haven & Mil
Canada Atlantic--------------International & Great Northern
153,000
152,000
Interoceanlc of Mexico________
120,909
131,085
Iowa Central------------------------50,575
53,3 52
Louisville & Nashville________ 1,038,745
943,870
Mexican International_______
130,116
128,287
Mexican Railway-------------------157,200
147,600
Mexican Southern------------------22,882
23,034
Mineral Range----------------- -----15,327
15,441
Minneapolis & St Louis---------70,861
86,438
Minneapolis St Paul & S S M— 1
348,688
340,134
Chicago Division--------------- j
891,000
817,000
Missouri Pacific______________
205,862
199,492
Mobile & Ohio________________
956,680
National Railways of M exico..
947,591
Nevada-California-Oregon____
8,961
8,024
9,549
Rio Grande Southern -----------12,754
234,006
St Louis Southwestern...............
218,984
1,153,232 1,093,843
•Southern Railway____________
22,181
29,713
Texas Central________________
310,284
320,877
Texas & Pacific______________
18,432
Toledo Peoria & Western-------17,745
71,357
Toledo St Louis & Western----63,909
560,911
491,177
Wabash.......................... ..............
Total (43 roads)----Net Increase (9.31%).
S
7,196
1,630
20,062
103,800
357,000
53,498
12,730
14,299
29,589
785
1 1,700
1,064
188
4,427
D ecrea se.
S
5,600
931
415
107,594
1,000
94,875
1,829
9,600
10,176
2,777
152
114
15,577
8,551
74,000
6,370
9,089
937
15,022
59,389
687
7,448
69,434
12,059,588 11,032,03 I 1,084,211
1,027,554
3,205
7,532
10,593
56,657
1591
-----G
ro ss E a rn in g s
-----
H oa d s.
ross E a rn in g s
S
Alabama Tenn & North.Oct
0.677
July 1 to Oct 31..........
24,091
Atch Top & Santa F e.b .O ct 9,444,348
July 1 to Oct 31........... 34,879,235
Atlantic Coast Llne.a----Oct 2,503,776
July 1 to Oct 31........... 8.334,508
1 Baltimore & Ohio b .. .N ov 7,351,075
July 1 to Nov 30--------- 37,233,833
Bangor & A roostook.b.-O ct
256,084
July 1 to Oct 31...........
950,550
Bellcfontc Central, b ----- Nov
7,083
Jan 1 to Nov 30--------57,397
Bridgeton & Saco R .b .-O c t
3,828
July 1 to Oct 3 1 ..........
19,181
Buffalo Roch & P itts.b .-O ct
800,898
July 1 to Oct 31........... 3,232,210
Canadian Northern........ Oct 1,384,200
July 1 to Oct 31........... 4,111,600
Canadian P acific.a------ Oct 9,744,507
July 1 to Oct 3 ........... 32,634,789
Central of New J e r-b -.-O ct 2,459,702
July 1 to Oct 31........... 9,182,359
Chattanooga South.a— Sept
6,905
July 1 to Sept 3 0 ..........
19,599
-------------- N
P r e v io u s
Y ea r.
et E a rn in g s
C u rren t
Y ea r.
------
P r ev io u s
Y ea r.
$
$
$
6,025
3,363
3,538
19,333
12,278
10,780
8,278,316 J3 ,587,499 ) 3,006,500
30,711,677 J13,334,084 jl 1,530,598
2,222,773
886,681
722,169
7,443,285 2,209,894 1,746,115
6,306,422 2,444,090 2,087,844
32,941,375 13,001,632 12,177,553
293,945
98,884
120,058
953,107
375,218
330,499
6,101
1,221
1,913
59,983
5.389
11,561
4,445
defOl
1,159
20,378
6,843
7,504
721,198
294,088
267,576
2,618,230 1,289,361
790,142
1,172,700
480,700
420,100
3,550,300 1,226,200 1,060,200
7.381,070 4,386,297 2,655,267
26,452,480 13,262,115 0,623,346
2,187,712 1,162,318
938,474
8,705,113 4,132,820 3,778,241
6,649 del.4,008
def.4,979
24,854 def.8,740 def.6,381
------
C u rren t
P r ev io u s
Y ea r.
Y ea r.
Y ea r.
5
8
5
%
401,725
267,648
i.b Oct 1,116,055 1,102,695
544,99
711,954
2,097,181 2,145,025
58,287
38,848
Colorado Midland.a______
243,962
207,685
__ Oct
July 1 to Oct 31______
175,811
160,489
808,712
867,475
Colorado & Sout
502,003
660,027
b.O ct 1,609,924 1,448,948
July 1 to Oi
5,665,391 5,241,779 2,180,753 1,887,193
Copper Range b _______Aug
10,934
--A u g
62,558
71,220
24,683
July 1 to Aug 31
33,711
140,479
147,020
61,228
Cuba R R _________
49,197
40.089
156,698
133,195
July 1 to Oct 3 1 ..
214,952
196,595
556,052
641,234
r673,999
..S ep t 1,618,919 1,653,683
r786,345
_____ 14,092,511 13,534,289 r5,381,502 r5,269,769
718,487
590,537
u .O ct 2,269,460 1,977,561
8,438,390 7,404,077 2,765,461 2,510,080
Dul So Shore & Atl. b .-.O
107,733
252,057
80,638
..O c t
308,234
420,616
273,269
938,438
1,212,410
4.896,259 1,704,180 1,456,062
-------- 18,894,541 17,791,269 5,470,214 4,910,002
Fonda Johns & Glovers.a
:.a Oct
37,391
41,116
71,198
61,383
July 1 to Oct 31______
169,012
193,860
321,666
286,104
Georgia R R .b ..... ............Oct
..O c t
93,103
317,411
306,889
109,908
July 1 to > (
171,222
272,225
1,012,803
987,699
Grand Trunk of Canada —
Grand Trunk R y ____ .Oct 3,129,646 3,009,930
938,261
948,481
July 1 to Oct 3 1 .. ___ ]11,847,604 10,905,450 3,457,162 3,358,372
Grand Trunk W est... Oct
525,582
114,796
473,024
.104.630
July 1 to Oct 3 1 ... — 2,093,579 1,949,798
515,310
587,388
Det Gr Hav & Mllw.. Oct
184,440
149,888
32,605
44,285
July 1 to Oct 31.... —
687,636
613,933
168,137
164,000
202,446
Canada Atlantic____ Oct
153,294
53,531 defl7,520
731,434
July 1 to Oct 31__ —
674,982
13,626
93,923
Gulf f c Ship Island.a___ Oct
207,313
176,089
75,229
49,844
July 1 to Oct 31. .
698,603
590,677
196,678
104,412
.Oct
754,861
661,505
323,702
228,700
2,663,082 2,455,451 1,097,492
953,822
Illinois Central .a.
.Oct 5,583,237 5,211.394 1,307,358 1,217,689
___ 20,311,383 18,957,478 3,543,575 3,445,895
.Oct
616,279
545,686
214,431
173,506
July 1
___ 2,240,484 2,093,185
737,652
640,418
327,563
Iowa
Oct
258,583
ft98,246
ft44,413
___ 1,168,100 1,038,773
/1287.355
ft263,921
228,584
255,536
83,248
62,671
Oct
937,125
846,845
298,481
225,108
July 1 to Oct 31.
861,897
803,010
324,453
332,723
isas City Southern. Oct
3,018,670 2,981,294 1,020,237 1,163,068
July 1 to Oct 31.
Jan 1 to Oct 31______
Louisiana & Arkansas, b .Oct
C u rren t
Y ea r.
et E a rn in g s
P r ev io u s
Y ea r.
Inc. 850,500
111,457
99,821
427,820
382,543
July 1 to Oct 31______
Net Earnings Monthly to Latest Dates.— In our “ Railway
3,907
b - _ __ __ Nov
3,148
Earnings” Section, which accompanies to-day's issue of the Manistlque
Jan 1 to Nov 30______
37,985
50,700
“ Chronicle” as a special Supplement, we print the October Maryland & Penna a__ Oct
39,567
36,390
July 1 to Oct 31______
149,013
140,641
returns of earnings and expenses (or in the absence of the
International.Oct
696,968
588,318
October figures those for the latest previous month) of g Mexican
July 1 to Oct 31______ 2,631,003 2,271,440
every steam-operating railroad in the United States which is Mineral Range, b ______ Oct
73,725
77,295
298,657
July 1 to Oct 31______
296,177
obliged to make monthly statements to the Inter-State
566,024
MInneap & St L ouis.a.-O ct
445,036
Commerce Commission at Washington.
July 1 to Oct 31______ 1,826,610 1,545,530
The Inter-State Commission returns arc all on a uniform Minn St P & S S M.a Sept 1,669,434 1,498,465
3,409,934
July 1 to Sept 30______ 4,018,060
basis, both as to revenues and expenditures, and possess
706,890
Chicago Division.a__ Sept
732,530
special utility by reason of that fact. In a number of in
July 1 to Sept 30______ 2,180,809 2,044,117
stances these figures differ from those contained in the Missouri ICans & T ex .b .O ct 2,856,104 2,824,648
July 1 to Oct 31______ 9,425,147 9,265,432
monthly statements given out by the companies themselves,
for publication, and in which the accounts are prepared in Missouri Pacific.b_____ Oct 4,015,314 4,293,610
July 1 to Oct 31___ .18,162,276 15,929,735
accordance with old methods of grouping and classification
Chatt & St L .b -.O c t 1,009,213 1,014,390
pursued in many instances for years. We bring together Nashv
July 1 to Oct 31______ 3,790,626 3,703,519
here (1) all the roads where there is a substantial difference g National Rys of Mexico.Oct 4,126,905 3,909,802
July 1 to Oct 31______15,571,969 15,011,681
between the two sets of figures, so that those persons who
39,269
b__ Oct
49,350
for any reason may desire to turn to the company statements Nevada-Cal-Oregon.
July 1 to Oct 31--------196,056
144,144
will find them readily available. We also give (2) the re Nevada Central.b----------Oct
6,866
8,113
turns of such roads (even where the figures correspond ex
July 1 to Oct 31______
25,315
28,035
actly with those in the Inter-State Commerce reports) which c N Y C & Hud R iv -b -.-O c t 8,889,032 8.131,768
Jan 1 to Oct 31______76,638,451 69,221,458
go beyond the requirements of the Commission and publish
Lake Sh & Mich S o .b -.O c t 4,307,470 3,795,519
their fixed charges in addition to earnings and expenses, or
Jan 1 to Oct 31______37,038,582 32,172,797
(3) which have a fiscal year different from that of the Inter
420,508
e Lake Erie & W est.b.O ct
505,275
State Commerce Commission in which latter case we insert
Jan 1 to Oct 31______ 4,077,233 3,607,140
238,062
the road so as to show the results for the company’s own
Cldc Ind & S ou .b_____ Oct 324,804
Jan 1 to Oct 31............. 2,571,125 2,165,472
year. We likewise include (4) the few roads which operate
2,386,294
Michigan
Central.b
___Oct
2,700,718
entirely within State boundaries, and therefore do not report
Jan 1 to Oct 31______22,543,654 20,004,463
to the Federal Commission, and (5) Mexican and Canadian
Clev Cin Ch & St L .b -.O c t 2,585,574 2,374,403
Jan 1 to Oct 31______22,634,621 19,890,397
companies. We add (G) the roads which have issued their
258,844
Peoria & Eastern.b___ Oct 294,336
own statements for October, but have not yet filed any
Jan 1 to Oct 31______ 2,462,701 2,238,450
returns for that month with the Commission. Finally (7)
111,184
Cine Northern_b_____ Oct 119,076
we give the figures of any roads that have already submitted
Jan 1 to Oct 31______
975,458
804,115
their November statement.
Pitts & Lake Erie, b - -Oct 1,601.088 1,190,967
------ G
------ N
C u rren t
Inc. 694,526
21 ,492
43,728
90 647
157,100
1 021
def3,965
defl 381
def4,092
13,811
11, 980
47, 152
53,402
249 861
303,383
1,163,053
895 128
7,883
20 910
50,174
65, 925
6198,757
fcl71 010
fc564 282
fc658,704
858,030
735 668
1,754,997 1,359, 992
258 547
231,941
753,507
717 795
1,324,723 1,186 ,179
3,590,642 3.161 139
1,828,047 1,433 529
5,947,782 5,299 955
297,108
263 225
997,829
949 ,157
1,494,221 1,485 890
5,754,885 5,446 322
29,074
25 077
116,902
83 718
291
2 711
1,859
8 734
3,027,229 2,830 329
23,468,702 18,592 ,958
1,782,098 1,462 ,651
14,095,796 11,142 ,744
170,019
98 ,084
877,936
542 ,438
95,809
41 ,464
574.652
401 ,093
1,081,360
845 ,591
7,326,377 6,170 ,703
811,285
634 ,727
6,554,825 5,125 ,262
112,011
73 050
591 ,938
733,901
40,631 defll 213
138 556
230,505
666 481
1,061,980
6,682,587 4,132 734
98,361
76 097
757,264
655 665
432,682
341 198
2,629,987 2,147, 157
8,723,465 7,058 449
63,942,532 49,641 248
205,215
174 317
991,373 1,078 817
96,499
92 437
294,149
301 395
41,182
12 140
144,911
29 379
1,246,225 1,044 248
4,823,566 4,040 200
294 793
445,973
2,142,078 2,244 878
157,537
106 628
765,159
391, 701
Jan 1 to Oct 31______11,836,434 8,492,033
Rutland b ____________ Oct 321,384
275,560
Jan 1 to Oct 31______ 2,573,816 2,301,405
N Y Chic & St L .b -.-O c t
984,127
850,965
Jan 1 to Oct 31........... 8,209,747 7,557,555
Total all lines.b______Oct 22,632,885 20.034.074
Jan 1 to Oct 31.........191,561,822 168455,285
N Y Ont & W estern.a.-O ct
702,628
688,362
July 1 to Oct 31........... 3,134,981 3,080.551
N Y Susq & W estern.a.-O ct
326,381
294,822
July 1 to Oct 31______ 1,128,372 1,031,127
New Orl Great N orth.b.O ct
117,863
48,821
July 1 to Oct 31______
430,656
172,882
Norfolk & W estern.b ___ Oct 3,045,354 2,529,667
July 1 to Oct 31______11,553,005 9,912,389
Northern Central.b_____ Oct 1,245,307 1,115,707
Jan 1 to Oct 31______10,072,071 9,404,871
Pacific Coast.....................Oct 758,929
636,697
July 1 to Oct 31______ 3,030,650 2,387,910
Pennsylvania Lines—directly operated—
East of Pltts&Erie.b.Oct 14,773,884 12,794,084 5,112,887 4,043,287
Jan 1 to Oct 31.........125,222,156 111833,356 36,819,288 31,635,888
West of Pitts & Erie.-Oct
Inc. 1,511,000
Inc. 669,500
Jan 1 to Oct 31--------Inc. 10.733,500
Inc. 3,516,500
Pitts Cin Chic & St L .a .O ct 2,969,747 2,506,212 1,011,801
760,862
Jan 1 to Oct 3 1 ..........24,738,128 21,612,102 6.583,446 5,964,97r
Phlla Balto & W ash.b--O ct 1,564,481 1,449,581
631,636
583,536
Jan 1 to Oct 31...........14,631,387 13,403,087 3,892,722 3,333.822-
1592
THE CHRONICLE
------ G
R o a d s.
ross E a rn in g s
------ ------ N
e t E a r n in g s
C u rren t
P r e v io u s
C u rren t
Y ea r .
Y ea r.
Y ea r .
$
$
$
Reading Company—
Phlla & Reading. b ---O c t 4,062,620 3,712,075
July 1 to Oct 31...........14,343,383 13,028,823
Coal & Iron C o .b ------- Oct 3,444,847 3,513,484
July 1 to Oct 31........... 8,860,000 10,104,040
Total both c o s .b ...........Oct 7,507,467 7,225,550
July 1 to Oct 31..........23,203,385 23,132,862
Reading Company____ Oct ________
_______
July 1 to Oct 31______
_______
_______
Total all companies__ Oct _______
_______
July 1 to Oct 31______
_______
_______
Rio Grande Junction__ Sept
96,250
83,675
Dec 1 to Sept 30______
765,504
637,135
Rio Grande Southern.b.Oct
33,548
60,672
July 1 to Oct 31______
152,609
215,457
Rock Island.b...................Oct 6,410,161 5,632,499
July 1 to Oct 31______23,777,070 21,336,108
St L & San Fr_b_____Oct 3,828,766 3.517,730
July 1 to Oct 31______ 14,327,639 12,773,033
Chic & East 111.b___ Oct 1,085,710
936,056
July 1 to Oct 31______ 3,899,589 3,456,345
Evansv & T H ’te .b .-O c t
216,428
196,323
July 1 to Oct 31...........
861,778
777,981
Total all lines.b____ Octl 1,541,068 10,282,609
July 1 to Oct 31______ 42,866,077 38,343,468
172,227
166,118
St Jos & Grand Island. b.O ct
July 1 to Oct 31______
615,908
604,153
St Louis Southwest, a ..O c t 1,148,285 1,011,324
July 1 to Oct 31......... 3,774,160 3,499,784
Southern Paclftc.a.......... 0ctl2,654,702 11,069,855
July 1 to Oct 31______ 46,311,921 41,102,992
Texas & Pacific, b______Oct 1,575,952 1,535,092
Jan 1 to Oct 31______11,705,800 10,763,466
Texas Central.a . . _____ Oct
107,102
132,125
July 1 to Oct 31______
332,571
375,948
Toledo & Ohio Cent .a ___ Oct 365,588
463,826
July 1 to Oct 31______ 1,487,103 1,825,451
106,926
101,460
Toledo Peoria & W est.a.O ct
N ovem ber____________
91,912
88,533
July 1 to Nov 30______
495,005
487,974
Tombigbee Valley.......... .O ct
6,271
6,720
July 1 to Oct 31______
25,122
22.134
Union Pacific.a................ Oct 8,890,381 7,675,805
July 1 to Oct 31______ 32,474,222 28,815,555
West Jersey & Seashore b Oct 437,630
392,030
Jan 1 to Oct 31______ 5,041,421 4,687,021
Yazoo & Miss V alley.a.-O ct 1,036,910 1,029,736
July 1 to Oct 31______ 3,223,905 3,016,535
C o m p a n ie s .
Oklahoma Gas & El Co. .Oct
July 1 to Oct 31______
San Diego ConsG&ElCo.Oct
Apr 1 to Oct 31______
------
Y ea r.
$
1,665,786
5,269,096
300,615
484,090
1,966,401
5,753,186
124,818
502,260
2,091,219
6,255,446
n25,102
nl91,140
26,807
92,085
1,811,698
6,837,061
1,083,075
3,905,980
259,813
1,030,175
70,842
308,839
3,225,428
12,082,055
66,168
243,997
300,475
855,625
3,971,170
14,984,754
605,390
2,270,323
55,592
111,796
184,298
733,254
24,243
14,698
119,893
2,586
7,755
4,138,375
14,972,367
35,238
1,097,795
172,593
defl37,899
P r ev io u s
C u rren t
Y ea r.
Y ea r.
Y ea r.
$
57,296
182,137
36,610
224,016
5
37,556
127,852
32,446
199,193
$
23,688
68,158
20,380
124,529
P r e v io u s
S
17,251
54,423
20,289
121,719
Interest Charges and Surplus.
—In
t .,
R e n ta ls ,
.—
—D
a l.
o f
N e t E 'n g s
.—
P r ev io u s
C u rren t
P r e v io u s
Y ea r.
Y ea r .
Y ea r.
Y ea r .
5
80,776
Bangor & Aroostook__ .O ct
330,236
July 1 to Oct 3 1 ..
243
Bellefontc Central_____ .Nov
2,673
Jan 1 to Nov 3 0 ..
Bridgeton & Saco Rlv. .Oct
593
2,459
July 1 to Oct 3 1 ..
342,762
Central of New Jersey.. .O ct
1,989,059
July 1 to Oct 3 1 ..
Chicago Gt Western__ .Oct
214,437
Sept 1 to Oct 3 1 ..
421,674
Colorado Midland.......... _Oet
31,350
125,400
July 1 to Oct 31. .
Colorado & Southern__ .O ct
256,307
July 1 to Oct 3 1 ..
1,018,129
Copper Range____
.. -Aug
11,899
23,875
July 1 to Aug 3 1 ..
36,657
Cuba R R ...... ............ .Oct
141,877
July 1 to Oct 3 1 ..
447,214
Denver & Rio Grande.. .Oct
1,710,869
July 1 to Oct 31. .
91 ,608
Duluth So Shore & Atl. .O ct
July 1 to Oct 31. .
371,534
Georgia R R ___________ .O ct
61,421
July 1 to Oct 31..
242,016
Gulf & Ship Island____ .Oct
32,683
July 1 to Oct 31. .
126,899
Hocking Valley---------- -Oct
115,251
July 1 to Oct 31. .
460,712
Kanawha & Michigan. .Oct
26 743
July 1 to Oct 31.
106,526
Louisiana & Arkansas.. .Oct
24,856
July 1 to Oct 3 1 ..
98,891
Maryland & Pcnna----- .Oct
3,058
. July 1 to Oct 3 1 ..
15,834
13,399
Mineral R an ge------- . . .Oct
52,983
July 1 to Oct 3 1 ..
Missouri Kansas & Tex. .O ct /i617,598
July 1 to Oct 3 1 .. ____ h2,309,514
& c
C u rren t
5
$
5
84,551
£36,916
£45,007
329,292
£101,024
£46,133
257
978
1,656
2,716
2,827
8,734
def684
637
522
4,384
5,038
2,466
819,556
373,374
565,009
2,069,942 2,143,761 1,708,300
£191,892
£30,285
298,501
£297,643 £def.46,718
591,821
31,350
cl 2,779 cdef.3,425
125,400 cdef.19,564
C13.467
C421.406
C269.416
226,248
C999.903
1,019,201 c l , 275,553
12,784 def. 1,004
11,938
37,353
9,835
23,876
3,432
16,710
32,487
54,718
85,677
129,275
(1423,074
(1311,037
331,885
1,297,311 d l,501,764 (11,508,556
£20,315 £def.4,956
91,630
£67,325 £def.52,102
355,865
£57,156
57,129
£44,463
£68,179 £def9.461
220,632
£13,484
36,805
£43,710
£73,457 £dcf28,580
135,570
119,896
£257,954
£231,771
£812,277
477,220
£727,222
23,005
£69,956
£56,860
£224,541
91,921
£161,234
19,089
£28,313
£6,879
£90,049
76,551
£33,211
9,853
8,001
3,979
15,834
37,508
31,318
13,317 £def. 5,482
£7,631
51,972 £def.2,713
£14,043
/J669.290 £711,488
£518,544
£775,053
h i , 407,608 £1,294,764
.—
a l. o f N e t E ’n g s
P r ev io u s
C u rren t
Y ea r.
C u rren t
P r ev io u s
Y ea r .
Y ea r.
C o m p a n ie s .
Oklahoma Gas & El Cos .Oct
July 1 to Oct 3 1 ..
San DlegoCons Gas&EICoOct
Apr 1 to Oct 3 1 ..
S
6,127
23,727
7,479
52,207
Y ea r .
$
£22,114
£72,012
78,418
707,580
£def 302
£def25,071
607,188
2,288,293
1,217,677
2,761,270
16,769
107,807
£8,603
£21,544
£165,437
£338,091
49,201
94,044
£148,169
£581,440
£2,004
£def.5,755
£10,632
.—
et E ’n g s
P r e v io u s
C u rren t
Y ea r.
Y ea r.
$
17,561
44,431
12,901
72,342
S
6,470
26,128
7,143
49,347
S
10,781
28,295
13,146
72,372
c After allowing for miscellaneous charges and credits to income.
i t These figures are after allowing for other income and for discount and
exchange. The sum of 510,000 Is deducted every month from surplus
and placed to the credit of the Renewal Fund.
h Fixed charges Include taxes amounting to 595,000 for Oct.
1909,
against 5123,897 In 1908, and additions and betterments of 542,122 this
year, against 549,986 from July 1 to Oct. 31 taxes were 5335,099 In 1909,
against 5417,949; additions and betterments were 5126,060 for the same
period, against 5149,706 the previous year. Prior to July 1907 It was the
practice to Include these items In the expenses.
x After allowing for other Income received.
STREET RAILWAY AND TRACTION COMPANIES.
L a te st G r o s s
IFeeA o r
M o n th .
Y ea r.
—B
Y ea r.
------
C u rren t
Ac.—
P r e v io u s
Y ea r .
$
5
•5
Nevada-Cal-Oregon___ .O ct
4,046
3,594
#26,555
16,184
July 1 to Oct 31
14,360
£106,240
95,899
111,913
N Y Out & Western__ .Oct
93 302
371,228
July 1. to Oct 3 1 ..
610,221
381,152
£7,280
New Orl Great Northern Oct
22,460
47,098
£15,822
87,447
July 1 to Oct 3 1 ..
188,748
778,543
Norfolk & Western___ .Oct
437,060
467,682
July 1 to Oct 3 1 ..
1,855,729 1,751,907 2,967,837
Reading Company......... .O ct
873,542 1,222,211
880,000
July 1 to Oct 31 .
3,520,000 3,494,167 2,649,702
20,542
Rio Grande Junction... Sept
8,333
8.333
Dec 1 to Sept 3 0 ..
146,318
83,333
83,333
Rio Grande Southern. .. .Oct
19,581 £def.l0,399
18,770
July 1 to Oct 31.
75,574
76,358 £def.32,401
St Louis Southwestern .Oct
174,376
168,008
£270,385
691,304
674,541
£664,021
July 1 to Oct 3 1 ..
9,408
6,391
Texas Central________ .Oct
34,885
20,315
17,752
38,688
July 1 to Oct 31.
40,953
39,878
£97,587
Toledo & Ohio Central.. .Oct
176,803
159,870 £392,112
July 1 to Oct 3 1 ..
24,189
£8,139
Toledo Peoria & W est.. .Oct
23,523
23,120 £dcf.3,035
November . _______
23,834
July 1 to Nov 3 0 ..
117,376
£22,833
119,803
INDUSTRIAL COMPANIES.
—I n t . , R e n t a l s , A c.— — H a l . o f N
C o m p a n y .
e t E a rn in g s
R e n ta ls ,
C u rren t
R oa d s.
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
f
Includes the Cleveland Lorain & Wheeling Ry. In both years.
i The company now Includes the earnings of the Denver Enid & Gulf R R .,
Pecos Valley system and Santa Fc Prescott & Phoenix Ry. In both years.
For October taxes and rentals amounted to 5308,635, against 5298,736 In
1908; after deducting which, net for October 1909 was 53,278,864, against
52,707,764 last year. For period from July 1 to Oct. 31 taxes and rentals
were 51.170,969 In 1909, against 51,217,775 In 1908.
(/These results are in Mexican currency.
H For October 1909 additional Income is given as showing a credit of
5576, against 513,798 dellclt In 1908, and for period from July 1 to Oct. 31
there was a deficit of 53,947, against a deficit of 524,156 last year.
A; For October 1909 additional income was 521,368, against 59,848 In
1908, and for period from July 1 to Oct 31 was 563,116 in 1909, against
554,362 last year.
n These figures represent 30% of gross earnings.
r For Sept. 1909 net from Coal Department was a loss of 551,549, against
a credit of 5125,654 last year, and from Jan. 1 to Sept. 30 was a credit of
5485,810 In 1909, against 5730,999 In 1908.
R o a d s.
—T n t . ,
P r ev io u s
1,705,227
5,556,318
252,066
24,979
1,957,293
5,581,297
144,918
588,405
2,102,211
6,169,702
fl28,875
n229,651
6,800
37,199
2,397,218
8,351,611
1,148,821
4,430,655
400,755
1,442,933
88,557
377,929
4,035,352
14,603,127
60,116
171,771
402,374
1,190,629
5,358,516
18,499,008
693,051
2,750,755
44,293
59,003
117,948
506,314
29,805
18,799
133,382
2,011
8,247
4,798,552
17,110,551
39,538
1,384,695
209,743
128,045
INDUSTRIAL COMPANIES.
------ N
—
G r o s s E a r n i n g s -----
[V o l . l x x x i x
E a rn in g s.
C u rren t
Y ea r.
1
to
la tes t
d a te.
C u rren t
P r e v io u s
Y ea r.
Y ea r.
Y ea r.
$
481,001
219,511
121,525
27,662
177,388
9,767
11,281
22,166
17,753
56,000
60,654
968,542
22,525
134,140
120,315
78,880
170,739
44,913
34,656
S
4,750,809
2,685,313
1,295,969
260,252
1,646,825
114,150
110,788
193,610
163,569
687,747
633,858
10,244,248
297,573
1,109,941
7,450,334
810,837
1,850,565
485,222
351,058
122,806 113,390
October .
94,348
Galv-Hous Elec Co.. October . . 102,014
82,520
76,003
Grand Rapids Ry Co. October__
Havana Electric Ry. Wk Dec 12 40,896 35,687
1,161,156
990,619
858,541
1,945,233
Amer Cities Ry & Lt. October . .
Amerlcan Rys Co----- November.
cAur Elgin & Chic Ry October__
September
Binghamton St Ry
UIrm Ry Lt & Power. September
Brockton & Ply StRy October . .
Camaguey C o----------- October .
Cape Breton Elec Co. October . .
Carolina Pow & Lt Co October__
Central Penn Trac— November.
October__
Chicago Railways Co. October__
November.
Dallas Electric Corp October . .
Detroit United R y .. 1st wk Dec
October__
November
El Paso Electric
October . .
Fair & Clarksb Tr Co. October__
5
524,706
235,700
137,563
29,531
188,364
10,253
11,438
23,228
22,251
60,227
63,763
1109,640
25,900
147,838
144,017
87,235
177,712
58,347
37,714
J a n .
P r ev io u s
i
4,408,295
2,560,549
1,179,440
238,796
1,581,703
105,973
07,429
204,010
047,214
625,550
9,003,164
272,976
058,493
6,590,523
734,001
1,837,239
431,432
322,387
1,092,090
887,002
784,570
1,704,082
341,989
October _.
36,375
316,558
34,010
208,908
October . .
21,654
219,153
26,543
Illinois Traction Co. October . . 457,995 406,172 3,885,844 3,605,602
38,509
354,989
Jacksonville Elec Co. October . .
41,567
392,153
266,914
September
252,883
874,888
October__
929,316
94,255 87,678
328,565
58,706
321,654
July ____
54,239
Milw El Ry & Lt Co. October__ 376,355 334,677 3,493,240 3.201,501
727,177
M llw LtH t & T rC o . October__
783,825
77,696
67,471
________
Montreal Street Ry. Wk Dec 11 73,527
65,305
Nashville Ry & Llgh October__ 148,992 141,815 1,415,675 1,309,348
North Ohio Tr & L t .. October__ 184,815 157,532 1,818,987 1,578,085
889,848
North Texas Elcc Co. October . . 135,697 119,299 1,0 15,816
Northwest Kiev Co. November. 178.938 174,334 1,880,046 1,766,341
Norf & Portsm Tr Co. October . . 156,540 (1156,790 (11,592,739 (fl,552,029
31,199
49,683
October . .
185,749
186,755
16,700
18,924
October ._
205,077
171,722
18,346
21,027
October . .
November. 411,001 370,378 4,385,356 3,964,880
October__
645,195 652,586 6,252,090 5,801,744
75,903
82,296
Heat & Power Co. November
Sao Paulo Tr Lt A P. October__ 205,146 181,966
50,618
51,071
Savannah Electric Cc October . .
Seattle Electric C o.. October . . 544,077 401,934
13,651
Sou Wisconsin Ry Cc October__
13,724
50,759
Tampa Electric Co.. October . .
47,354
Toledo Rys & Light. October__ 239,374 218,074
Toronto Railways.. Wk Dec 11 75,500
68,850
Twin City Rap Tran. |4th wk Nov 172,331 155,900
Underground El Rj
of London—
Three tube lines. . Wk Dec 4 £13,405 £12,220
£9,793
Wk Dec 4 £10,738
£5,041
AWk Dec 4
£5,041
October__ 1039,267 949,91 1
r October . . 733,766 609,042
A ugu st__ 165,334
55,938
58,789
September
35,672
31,758
October . .
I
c These figures are for consolidated company,
d
he Norfolk County Ferries.
826,706
887,467
1,981,417 1,864,146
486,867
502,435
4,920,747 3.705,065
130,207
134.436
453,334
487,012
2,220,810 2,082,897
3,609,588 3,304,751
6,340,776 5,841,662
£607,730 £558,430
£476,072 £439,324
£290,863
£319,802
9,265,653 8,810,539
6,190,805 5,688,378
1,348,720
330,862
201,028
Includes earnings of
Electric Railway Net Earnings.— The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Nov. 27 1909. The
next will appear in the issue of Dec. 25 1909.
D e c . 18 1909.]
THE CHRONICLE
------ G
ro ss E a rn in g s
C u rren t
H oa d s.
-------------- N
P r ev io u s
Y ea r.
$
Boston & Sub El C o s...N o v
60,815
Central Penna Tr Co___ Nov
60,227
Jan 1 to Nov 30______
687,747
Clev Palnesv & E ast-a.-N ov
25,900
297,573
Jan 1 to Nov 30______
Chicago Railways______Oct 1,109,640
Jan 1 to Oct 31______10,244,248
East St L & S u b -b____ Nov
177,712
Jan 1 to Nov 30______ 1,850,565
Honolulu RapTr&LCo b Oct
36,375
Jan 1 to Oct 31______
341,989
Norf & Portsin Tr C o.b.O ct
156,540
Jan 1 to Oct 31______d l,592,739 d
Portl’d (Ore) RyL&P. b-Nov
411,001
Jan 1 to Nov 30--------- 4,385,356
Un R y Gas & E l'Ill)-b .-O ct
266,263
Jan 1 to Oct 31.......... 2,282,987
e t E a r n in g s
C u rren t
Y ea r.
Y ea r.
------
P r ev io u s
Y ea r.
$
$
$
64,967
16,187
14,804
56,000
13,902
11,049
647,214
178,228
135,361
22,525
10,880
9,042
272,976
146,093
117,189
968,543
332,892
290,564
9,003,164 3,488,573
______
170,739
87,872
8 2 ,6 17
1,837,239
849,515
877,076
34,010
18,881
16,635
316,558
168,555
141,190
dl56,796
68,566
68,479
1,552,029
671,402
628,442
370,378
236,731
205,047
3,964,880 2,371,137 2,020,317
241,646
129,977
113,809
2,099,301 1,116,049 1,014,015
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
d Includes the gross earnings of the Norfolk County Ferries, lease for
vvliti-h expired April 1 1909.
Interest Charges and Surplus.
—I n
R o a d s.
t .,
R e n ta ls ,
.—
—D
a l. o f
N e tE ’n g s
.—
P r ev io u s
C u rren t
P r ev io u s
Y ea r.
Y ea r.
Y ea r.
Y ea r.
$
Boston & Sub El Cos___ Nov
13,614
Clev Palnesv & East___ Nov
8,457
Jan 1 to Nov 3 0 ______
92,855
East St Louis & S u b ___ Nov
49,942
Jan 1 to Nov 3 0 ...........
544,544
Honolulu R T & L Co__ Oct
6,378
Jan 1 to Oct 31______
62,135
Norf & Portsm Tr Co___ Oct
62,416
Jan 1 to Oct 31______
645,690
125,019
Portland (Ore) Ry,L & P .N ov
Jan 1 to Nov 30______ 1,363,227
52,740
Un Ry Gas & El Co (111).Oct
643,317
Jan 1 to Oct 31______
x
& c
C u rren t
$
13,305
8,088
88,459
48,800
534,274
6 ,12 2
60,066
65,376
657,959
116,039
1,267,936
64,660
631,350
$
$
1,499
2,573
2,423
954
53,237
28,730
37,930
33,817
304,971
342,802
£13,325
£11,189
£112,792
£87,641
6,150
3,103
25,712 def .29,517
111,712
89,008
1,007,910
752,381
77,237
49,149
472,732
382,665
After allowing for other Income received.
1593
L ia b ilitie s —
Common stock------------------------------------------------- ---------------..$149,578,733
Non-cumulatlve 4% first preferred shares___________________ 57,613,000
Aon-cumulatlve 5% second preferred shares___ $247,911,043
Less— in 1 reasury (of which $4,092,000 are pledged
as coll, for Mex. Cent. 4-year gold notes).........
9,636,050
Prior lien 4H % bonds------------------------------------- $182,054,955 238 ,274 ,9 9 3
Less— in treasury (of which $21,934,000 pledged
as coll, for Mex. Cent. 4-year gold notes)_____ 28,530,200
,
,
------------------ 153.524,755
Guaranteed general mtge. 4% b o n d s ................ $107,893,300
Less— In treasury (of which $1,140,000 pledged
as coll, for Mex. Cent. 4-year gold notes)_____
6,604,800
____________ 101 288 500
National R R . of Mex. prior lien 4
bonds assumed________ 46,’ooojooo
Aat. R R . of Mex. 1st cons. M. 4% g. bds ass’d . $49,498,000
Less— In treasury.------- -----------------------------------18,000 49,480,000
Bonds and stocks of Mex. Cent. Ry. and National R R . of Alex.
not yet deposited for exchange___________________________ 13,348,570
Equipment and collateral trusts of Mex. Cent. Ry. assumed—
eQuip. and collat. bonds, lst&2d series.
1,900,000
3,066,239
Alex. Gent. Ry. car and locomotive rental notes___________
4-year 5% gold notes----------------------------------- 31,480,000
lam plco Harbor Co. agreement of Dec. 31 1907— To be cxfor
of property within 10 years in con0n Of $0 ,000,000 U. S. cur “ 1st & ref." M. bondsat 90
9,000,000
Interest accrued on bonds and coupons not presented________
7,579,939
Guaianteed dividend on preferred stock accrued___
_
577,416
Accounts payable—-Vouchers and pay-rolls($ 2 ,3 5 5 ,944 ) , traffic
balances ($307,409) , individuals and companies ($818,431),
i w I ' m j 'I11 * 1 ac 9c H y . , special ($25,270), accrued taxes
($62,534)-----------------------------------------------3 599 500
Reserve for material adjustment________~~ ~~
’ 1 5 7 307
Equipment and rail renewal fund______ 1 1 1 1 1
2 169 982
Reserve fund as per decree offJuly 6 1907
'
’ r,s’ s>w
Proilt and loss, surplus_____ 2 ______ _____ 1 1 1 1 1 . 1 ~ "
50 470
" .......................................!----fetal
1o ta I.............- ............. - ..................- ..........................................$869,322,850
* Does not include $5,080,000 ($2,540,000 U. S. cur.) bonds deposited
with Central Trust Co. as collateral under prior lien 4 K % mortgage
N o t e . — The bonds and stocks owned are substantially as stated in the
application to list (V. 88, p. 1321), the main changes being: $15,825,400
(U. S. cur.) Mexican International RR stock: Interocsanlc Ry. of .Mexico
ordinary stock, £1,255,330, and Tampico Harbor Co. “ first and refunding"
5% bonds of 1947, 810,000,000 (U. S. cur.), of which $5,000,000 are
pledged under agreement of Dec. 31 1907.— V. 89, p. 1223, 993.
Mexican International Railroad.
(Report for Fiscal Year ending June 30 1909.)
The full text of the remarks of President E. N. Brown
will be found on subsequent pages. Below are the statistics
of operations, earnings, charges, &c.
ANNUAL REPORTS,
O P E R A T IO N S .
National Railways Co. of Mexico.
(■Report for Fiscal Year ending June 30 1909.)
The text of the remarks of Vice-Chairman of the board
Pablo Maccdo and President E. N. Brown will be found on
subsequent pages. Below are the principal statistics of
operations, earnings, charges and balance sheet.
30 1909.
Average kilometers_____
8,412 Tons revenue freight..
5,707,972
Passengers carried______ 6,264,124 Tons rev. freight 1 mile 1,979,734,017
Passengers 1 kllometer..579,000,424 Receipts per train kilo.
$3 55
Receipts per train kllom..
$1 75 Av. tons per train, all
.
freight (per tr. kilo.)
269.68
One kilometer equals .62138 mile; 1 metric ton equals 1.103 tons of
2,000 lbs.
O P E R A T IO N S
IN C O M E
F O R
A C C O U N T
Y E A R
F O R
E N D I N G
Y E A R
J U N E
E N D I N G
J U N E
30 1909.
G ross E a rn in g s —
M e x . C u r.
D e d u c t i o n s (con.)—
M e x . cu r ■
Freight-------------------------$35,072,312 Sundry adjustments___ «$882,706
Passenger.....................
10,365,724 Claims made on const, cos bl99,711
Express-----------------------1,879,017 Reserve for renewals on
Miscellaneous _________
1,487,869
equipm ent---------------- c l ,340,400
Interest on bonds—
Total gross earnings..$18,805,522
Prior lien 4 ' / , % bonds 5,487,788
Maintenance of way, &c. $6,574,832
Guar. gen. Al.4% bds. 3,854,043
Maintenance of equip__ 6,191,769
Prior lien 4M % bonds
Conducting transporta’n 14,469,214
of Nat. RR. of Mex.
2,070,000
General expenses_______
1,931,078
expenses.
First consol. 4% Nat.
RR. of Mexico _
1,979,200
Total op. exp.(see bel.)$29,166,893
Bonds Mex. CVn.Rv.Co.
454,690
Net earnings.__ _______ $19,638,629
4-yr.5%notesM C.Ry . 1,887,151
Sundry Interest & e x c h ..
293,723
3-yr.5%notesM.C.Ry .
20,417
Int. on securities owned. 1,092,371 Interest ongequlpment &
collateral trusts, &c.—
Total net Incom e..... .$21,024,723
5% equip, and collat.
D e d u c t—
bonds Mex. Ccn. Ry__
100,000
278,588
Taxes........ ........................
Car&loco. rental notes
227,534
Rental MIchoacan & Pa
4H % 6 mos. notesNat.
57,397
RR. of M exico._____
167,134
cific leased line_______
5% notes Nat.RR.Mcx.
727,987
Operating deficit Mcxlcan18,616 Transferred to res’ve f ’d .
a 63,357
Amerlcan SS. Co_____
Operating deficit Texas
Guar.dlv.on 1st pf.sh’s(2%) 1,153,316
Mexican Ry. Co______
4,218
Total deductions____ $20,974,253
Balance, surplus, carried to balance sheet
...........................
$50,470
N o t e . — The operating expenses, $29,166,893, In 1908-09
compare with
$35,355,649 In 1907-08, consisting of: Maintenance of way and structures,
$6,379,6.)0: maintenance of equipment $7,910,514; conducting transporta
tion, $19,081,984, and general expenses, SI,980,501.
a Sundry adjustments are those of operating expenses of constituent cos.:
(1) Prior to date when direct charge was assumed by Nat. Rys. Co., $823,765
and (2) subsequent adjustments, $58,941. ft These are claims made on
constituent cos. for the period from July l 1908 to Jan. 31 1909, paid subse
quently. c Reserve for accrued renewals on equipment covered by the
prior lien and general mtges. d This is 5% of net profits.
B A L A N C E
S H E E T J U N E
30 1909.
A s se ts —
M e x ic a n
Road, equipment, land concessions, &c.: Cost
of acquisition of properties of Mex. Cent. Ry.
Nat. RR. of Mex., tfldalgo & N. E. RR. under
plan of April 6 1908, & c ------------- -------------- $764,346 049
Additions and betterments during 1908-09______
t ,779!.501
One kilometer equals .62138 mile; one metric ton equals 1.1023 tons of
2,000 lbs.
E A R N IN G S
A N D
E X P E N S E S
E X I C A N
1907-08.
$1,090,353
7.052,754
138,458
Total receipts________ $6,953,284
E x p en s es —
Alaint. of way, &c_____
$909,062
967,178
Maint. of equipment__
Conducting transporta’n 1,874,485
General expenses______
296,752
Total work’g expenses $4,047,477
Net earnings__________ $2,905,807
Income from Investm’ts. ________
C U R R E N C Y ) .
1906-07.
$1,014,720
7,341,816
216,234
1905-06.
$754,964
6,376,831
182,417
$8,281,565
$8,572,770
$7,314,212
$1,192,074
1,131,426
2,684,070
320,631
$1,208,820
1,275,315
2,920,068
302,165
$734,595
833,819
2,331,628
277,411
$5,328,201
$2,953,364
1,472
$5,706,368
$2,866,402
1,329
$4,177,453
$3,136,759
1,849
T o ta l____
.........$2,905,807
D e d u c t—
Stamps & other taxes..
$21,182
Rental Coahuila Coal Ry
20,000
Int., discount & exch’ge
3,611
Duties on Import’d mat’l
26,100
Miscellaneous_________
12,376
$2,954,836
$2,867,731
$3,138,608
$34,691
20,000
34,873
*233,684
$30,024
20,000
$30,369
3,334
Balance (Alex, cur’cy) $2,822,538
do
(U. S. cur’cy) $1 ,411,269
$2,631,588
$1,315,794
$2,817,707
$1,408,854
$3,104,905
$1,552,452
I N C O M E
A C C O U N T
Net earnings as a b ove..
Int. on open accts., &c.
Total net Income_____
D e d u c t—
Int. on bonded debt__
Int. on inc. bonds, 4% _.
Interest on loans_______
Total deductions_____
Balance, surplus_______
Surplus previous years. .
T o ta l_______________
Additions, better., &c_.
Mczqulte branch, net
debt written oir____
Surplus as per bal. sh.
( U N IT E D
S T A T E S
C U R R E N C Y ).
1908-09.
$1,411,269
706
$1,411,975
1907-08.
$1,315,794
3,323
$1,310,117
1906-07.
$1,408,854
12,911
$1,421,765
$1,552,452
31,719
$1,584,171
$551,510
179,960
13,890
$745,360
$666,615
2,480,722
$3,147,337
$87,222
$551,510
179,960
23.100
5754,570
$564,547
2,833,598
$3,398,144
$917,422
$551,510
179,960
$551,510
179,960
$731,470
$690,295
4,134,261
$4,824,556
$1,990,958
$731,470
$852,701
3,880.332
$4,733,033
$598,772
31.387
$3,028,728
______
$2,480,722
...........
$2,833,598
$4,134,261
* Duties paid on imported company material In excess of the kllometric
allowance, $233,684, was in settlement for 15 years to June 30 1907.
B A L A N C E
_ !iT otal............................................................................................. $869,322,850
(M
E a rn in g s —
1908-09.
Passengers and express. $1,022,249
5,829,166
Freight..........................
All other sources_______
101,869
S H E E T
( U N I T E D
S T A T E S
C U R R E N C Y )
1909.
5
40,565,937
15,748
435,865
81,014
45,542
77,670
64,577
668,091
41,054,444
1908.
8
40,606,315
15,748
614,812
190,806
160,409
114,259
109,790
171,198
41,983,336
1907.
$
40.591,400
15,027
1,032,863
237,601
326,789
188,240
20,708,200
17,555.500
Loans_________________________
Accrued interest, & c ._____
212,055
Voucbersand pay-rolls.......................
185,117
Individuals and companies_________
95,735
Miscellaneous_______________
169,110
Profit and loss, surplus_____________
3,028,728
Total-------------------------41,954,444
— V. 89, p. 1142.
M8 ;
20,708,200
17,555,500
420.000
218,036
239,656
285,395
75,828
2,180,722
4 1,983,336
20,708,200
17,555,500
C u rrcn cy -
Bonds and stocks owned (see foot-note below) . . .
^762 149 439
Advanced for construction—Tampico Short Line, $681 86l"
'
’
’
’
72 1 076
Tam il ;o Harbor Works, $39,215__________ ____
Materials and supplies---------- --------------------------------- I
4 950 631
’
’
Accounts receivable— Agents, conductors and employees'
($800,176), traffic balances ($423,676), Individuals and com
panies ($1,050,652), bills collectible ($757,858), notes receiv
able ($135,069), purchase of subsidy rights of Hidalgo &
N. E. RR. ($27,935), Tcxas-Mexlcan Ry. advances account
change of gauge ($26,283)----------------------------3,221,650
Accrued Interest on securities ow n e d .------ . _ -------------------855 931
Cash In bank and on hand (Including $6,010,614 for payment
of coupon Interest)------------------------------------------------------- -- 31,212,170
Advance payment— Insurance premiums_______
86,403
.
,
1908-09.
1907-08,
1906-07.
Aveiage kilometers operated________
1,478
1,478
1,473
Passengers carried------- -------------------502,901
5 2 7 ,7 5 2
470,349
Pass, carried one kilometer.............
38,499.822 41,796,738 36,846,860
Receipts per train kilometer________
$1.29
$ 1.3 6
$ 1.24
Tons revenue freight carried-----------1,449,104
1,597,755
1 , 509,535
Ions rev. freight carried 1 kilometer.474,264,628 547.333.064 528,952.176
$3.50
$2.90
$2 72
Receipts per train kilometer-----------Av. tons per tr., all fr. (per tr. kilo.).
309.78
2 52.53
225.96
A s se ts
—
Mexican Government bonds_______
Alaterials and supplies____________
Due by agents, &c_______________
Traffic balances___________________
Individuals and companies________
Miscellaneous_____________________
Cash___ _____ ___________________
T ota l...............................................
I n a b ilitie s —
424,960
42,816,880
213,049
1,030,424
393,553
82,556
2,833,598
42,816,880
[VOL. LXXXIX.
THE CHRONICLE
1594
I N C O M E
Interoceanic Railway ofJMexico.
(R eport for F iscal Y ear ending J u n e 30 1909.)
The terms of the company’s lease of the Mexican Southern
R y . were in V. 89, p. 1549.
.
Secretary N. Strzelecki, London, Nov. 26 1909, says in
substance:
G e n e r a l R e s u l t s .— The gross receipts show a decreascjof $982,377, or
12.76%, due to the financial and commercial depression existing In Mexico
during the greater part of the year under review. Although the decrease
in passenger earnings is only $51,303, the receipts from goods and other
traffic fell ofT to the extent of $931,074, but notwithstanding this, the net
earnings are only $6,576 less, a very satlst/ictory result. The principal
saving In expenditure was in traffic expenses.
D i v i d e n d s .— The directors propose to appropriate the balance for the
year as follows: (a) To pay £2 5 s .% . less income tax, on the 4
second
debenture stock, making, with the Interim payment made on May 29 1900,
£4 10s.% for the year. (b ) To pay £7%. less Income tax, on the 7% B
debenture stock, (c) To pay a dividend of £5%, less income tax, on the
first preference stock; and (</) To pay a dividend of £1% , less income tax,
on the second preference stock, leaving a balance of £83 10s. 9d. to be car
ried forward. Warrants tor the above payments were posted on Dec. 10.
P o o l i n a A g r e e m e n t .— The separate pooling agreement with the Mexican
Railway Co expired on March 1 last, but a satisfactory arrangement has
lately been arrived at with that company for the pooling of passenger busi
ness and negotiations are now proceeding for the sub-division of the shares
allotted to the two companies in the general goods pool of the four railways
which constitute the Railway Association of Mexico.
t
„
O u t l o o k — With regard to traffic prospects, the management states that
in all the districts contiguous to the railway there are indications that an
Increased acreage will be cultivated during the present financial year.
E A R N IN G S
A N D
Passengers carried_____
Rec’ts per pass, per mile
Tons of freight carried..
Rec’ ts per ton per mile.
Number of ton miles. . .
E a rn in g s—
Passengers.......................
F reig h t...........................
Miscellaneous..............
E X P E N S E S
(U .
S .
C U R R E N C Y ).
1906-07.
1907-08.
1908-09.
1,561,987
1,690,545
1,662,243
2.5 cts.
2.5 cts.
2.5 cts.
868,667
901,804
820,010
. 5.0 Cts.
5.0 Cts.
6 Cts.
84,473,318 106,899,281 101,235,851
$
$
$
1,108,883
1,195,388
1,144,085
5,236,693
5,604,857
4,710,570
847,349
900,860
864,073
1905-06.
1,448,847
2.o 0lii.
780,523
5.0 Cts.
84,455,743
6,718,728
4,419,856
7,701,105
5,395,657
7,192,925
5,297,459
6,460,330
4,574,482
Net earns. (U. S. cur.). .
Net earnings (sterling). .
2,298,872
£234,719
2,305,448
£235,402
1,895,466
£194,804
1,885,848
£196,360
I N C O M E
A C C O U N T
(S T E R L IN G ).
1908-09.
£
234,719
Net earnings (as above) 3,784
Add— Interest, &c-------
1907-08.
£
235.402
1,477
1900-07.
£
194,804
2,589
1905-06.
£
196,360
1,809
238,503
235,878
197,393
198,169
3,500
20,000
20,000
20,000
20,000
13,308
36,999
51,750
32,862
20,000
27,995
51,750
32,862
20,000
27,995
51,750
32,862
20,000
27,995
51,750
32,862
(3)4)32,500
(2)20,000
13,000
8,000
*14,647
Net Income-------------D e d u c t—
Locomotive renewal f’d .
Rent of Mex. Fast. R y.
Int. on prior lien deb. 5s
(retired June 1 1909) _
Int. on 1st deb. stk.(4%)
Int.on2d deb.stk.(4 y t %)
DIvs.on‘ ’B” deb.stk.(7%)
Dlvs. on old pref. stock
(retired late in 1908).
Dlvs. on 1st pfd. stk----Divs. on 2d pf. s t k .(l',’(,)
Res’ve f'd pr. lien deb_.
Suspense account---------
(5)70,000 (4)4)63,000
10,000
20,000
a Other income includes in 1908-09 rentals and hire of equipment (bal
ance) , aggregating $52,899: interest on current accounts, $19,864.
b Includes loss on dining car operations, $1,403.
S H E E T J U N E 30.
1908.
1909.
1908.
19°9'
$
S
S
L ia b ilitie s —
$
A s se ts —
1,050,000
Road & equipment- .3 ,448,910 3,448,910 Common stock.........1,050,000 2,036,200
Add’ns & betterm’ts 154 490 139,259 Bds.(seeIt.&I.Sec.). 2,036,200
27.952
35,885
35,885 Interest on mtges...
27,952
Investments, &c----79,702 Mlsc. creditors_____ 145,024 135,774
Materials, &c.......... 49 987
60,071
448,004
Other
railroads.........
68,465
685)655
Cash ............... .......
12,365
15,939 Replacement rolling
Sundry debtors........
17,065
15,196
14,935 stock fund............ 10,725
Station agents-------25,018
13,238
22,932 Deprec’n of equlp’t.
72,834
Remittances...........
29,615
59,441
73,509 Creditors on pay-roll
31,252
Other roads_______
5,602
25,992 Land sales account-. 245,236 243,521
Bills receivable-----16,493 V. & M. 1st M. sk.fd. 147,465
Bills receivable, lands 12,413
Net revenue account *668.009 690*343
B A L A N C E
Totai ..................4,493,162 4,321,560
195,254
198,108
235,607
238,419
Total deductions----2,915
def. 715
1,271
84
Balance, surplus----------* The £14,047 was transferred in 1905-06 to the credit of preferred share
holders In suspense to liquidate amount standing to their debit, representing
proportion of 6 months’ dividends between July 1 and Sept. 15 1891, paid to
preferred shareholders out of fUflds received from contractors, but not
earned.— V. 89, p. 1223. 225.
Alabama & Vicksburg Railway.
(.Report for F iscal Y ear ending J u n e 30 1909.)
Total................... 4,493,162 4,321,560
* After deducting $144,000 appropriation to sinking fund for redemption
of V. & M. R R . first mtge. bonds.— V. 89, p. 1222.
1,024,099
4,637,832
798,399
Operating expenses------
A C C O U N T .
1908-09. 1907-08.
1908-09. 1907-08.
$
S
$
S
E a rn in g s —
Per
cent
expenses
&
. 431,582 462,558
taxes to earnings.. (81.22)
(82.26)
Freight--------------- . 981,033 933.841
Net revenue______ 286,665 268,139'
Mail, express, &c__. 113,742 115,316 Other
income_____ a72,763 a84,120
.1,526,357 1,511,715
net income. 359,428 352,259
Total
E xp en ses—
D e d u c t—
Maint. of way, &c_.. 250,647 244,465
69,640'
8,522
Malnt. of equipmentt 322,682 296,078 Rentals, &c— ........ 111,810
112,018
37,465 Interest on bonds.. .
Traffic expenses___. 40,549
Transport'n exp-----. 515,036 563.996 Add'ns & better’ts.. 49,429 109,447
73,500
73,500
60,967 Dividends (7 % )----________
General expenses— . 60,708
40,605
50,070
Total deductions. 243,261 304,605
47,654
.1,239,692 1,243,576 Balance, surplus----- 116,167
New Orleans & Northeastern Railroad.
{Report for F iscal Y ear ending J u n e 30 1909.)
President D. D. Curran, July 30 1909, wrote in brief:
R e s u l t s .-T h e re is an Increase in operating revenues of $151,432.*
or 5.25%; a decrease In operating expenses of $53,213, or 2.47% j
.
pronto in taxes of SIS 669. or 24.78%. and an Increase In net operating rev8
enue of $185,976. Conditions have lmproved jn*eatly over lie prevjou
year In freight traffic, but passenger traffic Is still oosatlsfactory. A cllvl
dend of 4% on the registered common stock was paid Sept. 3 1908 from tne
G en era l
ea^pemfI% 7^Expctfses.— Operating expenses include In addition to actual
expenditures the original cost of all structures superseded anil tiacks taken
up and a depreciation charge of 4% on the original cost of all existing loco
motives and cars. 3.59 miles of rails have been relaid on curves, 36,832
yards of slag ballast have been used in repairs; 99,293 ties have been ieplaced; 14,048 cubic yards of filling have been used In maintaining banks, and
$19,944 has been expended on repairs of revetment on the shore of Lake
Pontchartairn. Maintenance of equipment expenses include $114,574 for
depreciation charges on equipment in service and $18,231, the original cost
less value recovered, on 2 coaches and 135 freight cars destroyed during the
yeTlie Increase In transportation expenses is caused by charging to expenses
$36,000 to create a reserve for possible liabilities due to a serious accident
which occurred at Little Woods, La., on Nov. 11 1008, in which a New
Orleans Great Northern train collided with a local train
to your
comnanv
The crew of the Great Northern acted In disregard of rules,
and It is believed that ultimately the entire loss will fall upon that company.
A d d i t i o n s a n d B e t t e r m e n t s .— (From tables in the report.)
The items pro
vlded from capital amount to $78,069; items provided from accumulated
netrcvenue shown net credit of $17,407; items charged to current Income
ag^ ^ aternsprmfided°fnjm^capiUii^($78,969) were: Passenger station, Hat
tiesburg—-part cost, $61,640: second track. New Orleans and South 1 olnt—
completion! $24,468; offset In part by tracks at terminal Junction, sold,
Cr. $7,139. The Items provided from accumulated net revenue (credit
item $17,407) Include: 51 box and 70 Hat cars—part cost, $o7,349; 3 coal
cars—part cost, $2,689; less original cost of cars destroyed during year.
Cr'I'he additions and betterments charged to current Income ($122,687)
were: Bridges, trestles and culverts, $ 14.984; buildings, fixtures and grounds,
Cr. $1,803; second track. New Orleans to South Point, $21,897; payments
on trust cars, $69,269: remainder, sidings, &c.
President D. D. Curran, Aug. 5 1909, wrote in brief:
O P E R A T IO N S
A N D
F I S C A L
R E S U L T S
.— Of the 142.78 miles of main track, 103.47 miles are
laid with 75-lb. steel rails and 39.31 miles with 00-lb. steel rails. During
the year there were laid in main track 15.65 miles of 75-lb. steel rails in re
placement of old 60-lb. rails. There are 19,529 feet of bridge structure
in the main track, of which 2,369 lineal feet are steel and 17,160 lineal feet
—
IMS-OOPassengers carried-------------------------49o,779
Passengers carried 1 mile----------------- 23,371,802
Average earnings per pass, per m ile..
2.37 cts.
W<EarnfnflsfLepassenger earnings show a decrease of $30,970, or 6.70%.
Freight earnings show an increase of $47,192, or 5.05%. Rental earnings
have increased $8,581. principally from the use of the new freight terminals
at Meridian. Receipts from per diem and hire of equipment have fallen
oil $18 608 in consequence of the smaller demand for cars and the reduction
n car per diem rates on March 1 1908 from 50 cents to 25 cents per day.
O p e r a t i n g E x p e n s e s .— The operating expenses Include the original cost of
side tracks taken up and structures replaced and a 4% charge for deprecia
tion on equipment. Maintenance of way and structures Includes a portion
of the cost of renewal of 15.65 miles of 60-lb. rails with 75-lb. rails (142.78
miles arc now laid with this weight of rail). the value of the excess weight
being charged to additions and betterments. 86,208 ties were replaced:
25,096 cubic yards of earth were used in restoring banks and 41,549 cubic
yards of slag were used in rcballasting track. Maintenance oi equipment
includes $54,871 depreciation charges and the cost of 37 cars destroyed,
Aver,
Aver,
Aver,
Gross
P h y s ic a l P r o p e r tie s
.— A severe storm occurred between Hickory and Meridian on
the night of May 24 1909, accompanied with seven inches of rain, damaging
about 5 miles of track and carrying away 200 feet of trestle at West Chunky
Creek. Traffic was Interrupted for 5 days. Temporary repairs were made
at an expense of about $10,000 and permanent repairs will be made during
^ iY a s h o u t
.— In accordance with the provisions of the
Vicksburg & Meridian R R . ilrst mortgage, a first lien on your property,
your board has set apart as a cumulative sinking fund the sum of $144,000,
to be applied In redemption of the bonds secured by this mortgage by pur
chase In the market or for the payment of said bonds at their maturity as
may from time to time be determined. The accrued interest on the fund
set apart amounts to $3,465 to June 30 1909, making»the total sum in the
sinking fund at that date $147,464 67.
. .
A d d i t i o n s a n d B e t t e r m e n t s .— (From tables In the report.)
These aggre
gated $64,060, viz.: (a) Additions and betterments provided from accumu
lated net revenue— Land purchased, $15,405, and part cost of 35 new box
cars, $15,192, less original cost of cars destroyed during year, Cr. $18,616,
leaving net $15,231: ( b ) Additions and betterments charged to current
Income to a total of $64,429, notably concrete arches and filling trestle,
$12,614; ballast, $18,947: rails—Increased weight, $11,680, &c.
t h % in k d n g S F u t u t E s t a b l i s h e d
O P E R A T IO N S
A N D
F I S C A L
R E S U L T S .
O p e ra tio n s —
1908-09.
Passengers carried___________
162,688
Passengers carried 1 mile__________ 10,998,656
Rate per passenger per mile------------ 2.54 cts.
914,291
Tons of freight carried (revenue)___
Tons of freight carried 1 mile_______ 93,063,858
Rate per ton per mile---------------------1.05 cts.
Gross earnings per mile------------------$10,674
1907-08.
1906-07.
462,115
420,181
18,055,880 16,525,218
2.69 cts.
2.56 cts.
857,131
889,017
85,271,996 89,940,234
1.11 cts.
1.10 cts.
$10,571
$10,874
O p e ra tio n s
JtSSS S
SSK -f
earnings per ton per m ile----earnings per pass, train m ile..
earnings per freight train mile.
earnings per mile------------------I N C O M E
0.78 cts.
$1 10
$2 56
$15,493
(196 M I L E S ) .
1907-08.
1906-07.
609,145
535,368
23,517,290 27,578,576
2.44 cts.
2.50 cts.
1,815,515
1,723,937
0.84 cts.
$1 22
$2 69
$ 1 4 , r<su
■?>>
a a
A C C O U N T .
1908-09. 1907-08
1908-09. 1907-08.
S
S
E a rn in g s —
S
f
Passenger........... -- 553,176
595,750 Per cent expenses &
(77.21)
taxes to earnings. (72.22)
Freight.................. 2,269,635 2.080,983
Mall, express, &e
212,277 200.923 Net oper. revenues.. 843,164 657,188
Other Income_____ n86,851 142,761
Total..................3,035,088 2,883,656
Total net revenue. 929,815 799,949
D ed u ct—
O p . e x p . it t a x e s —
__ _
Maint. of way, & c.. 307,647 35j ,297 Fixed Int. on bonds. 336,065 332,490
67,500
Maint. of equipment 538,396 572,612 Interest on Incomes. 67,500
74,052
Traffic expenses----- 91,447
86,599 Rentals,car.tr.Int.,&c .673,496
80,267
Transp’t’n expenses. 1,038,382 1,017,762 Add’ns & betterm’ts 122,687
General expenses... 122,052 118,867 Dividends ..........(5%)300,000(4)240,000
Taxes ___________
94,000
75,331
Total ................... 899,748 794,309
30,067
5,640
Totals .................2,191,924 2,226,468 Balance, surplus___
a Other Incomeincludcs rentals and hire of equipment (balance) aggregat
ing $55,559 In 1908-09 (against $107,649 in 1907-08), and Interest on current
4C6°Inc\udes11nt 2on equip, trusts, $11,706. and rentals, $61,790.
B A L A N C E
S H E E T
J U N E
30.
1908.
1909.
1909.
1908.
L ia b ilitie s $
S
$
$
, A s se ts —
6,000,000
Cost of property-.14 ,354.659 14,354.659 C o m m o n stock.. . 6,000,000 8,482,000
Bds.(secR.&I.Sec.) 8,682,000
Add'ns & better’ts
215,445
Interest on bonds. 219,945
Investments........
303,313
Mlscet. creditors.. 364,943
Material & suppl’s
289,045
Equip, obllga’ns.. 231,236
Agents ...............
93,027
110.784
Other accounts__
Cash .................. 1
95,781
133,123
Other
railroads__
Sundry debtors...
56,006
149,987
Deprec’n of equip.
Remittances........
39,095
28,575
Rolling stock fund
Equipment trusts.
627.071
717,137
Net rev. account-Other railroads__
Totai ............... 16,637,730 16,200,783
T otal________ 16,637,730 16.200,783
— V. 89, p. 1223, 779.
1595
THE CHRONICLE
D e c . 18 1909. j
1994, reserved to retire the maturing bonds, and will sell the
first consols at 111, ex-Jan. 1 1910, coupon, taking in part
payment therefor the maturing 4J^s at par and interest to
Jan. 1 1910; this offer to remain in force until and including
G e n e r a l R e s u l t s . — There Is a decrease in operating revenues of 560,583
Jan. 3 1910. Drexel & Co. of Philadelphia and the Mercan
4 24% ’ a doorcase In operating expenses of $159,611, or 13.54%, ana an
fncrease in taxes of $2 903 or 4.15%. Net operating revenue shows an tile Trust & Deposit Co. of Baltimore are authorized to
Increase of SOB 125 or 59 53%. Business conditions along vour line have make exchanges on these terms in their respective cities.
be^nUnsatisfactory throughout the year. In addition to the general deAll 4 ^ s not exchanged will be purchased by J .P . Morgan &
nrcssion the crons V t h e territory around Shreveport were poor
The decrease in rentals earned Is due to the withdrawal of the Louisiana Co. on Jan. 3.
Ttv * Navhfatlnn Co from use of your Red Blver l)ridge for its freight ser Digest of Letter from Fairfax Harrison, Vice-President Southern Railway.
Vicksburg Shreveport & Pacific Railway.
(Report for Fiscal Year ended June 30 1909.)
President D. D. Curran, Aug. 7 1909, says in substance:
vice on Nov 30 1907
Under hire of equipment the reduction was $18,219.
O v c r a t i n u E x p e n s e s . — T h e s e include in addition to actual expenditures
tlie ordinal cost of all structures abandoned or superseded and a deprcciat on charge of 4 % on the original cost price of rolling stock a d locomotives.
A d M i o n s a n d D e t t c r m e n t s . — The Items provided from capital aggregated
5 2 2 8 7 - those p r o v id e d fro m a c c u m u la te d n et re ve n u e sh o w a cr e d it o f
53 650 items charged to current Income (notably $24,229 paid on car trusts)
amounted to $35,969; total, $34,605.
O P E R A T I O N S A N D F I S C A L R E S U L T S (171 M I L E S ).
O perations, ,
1908-09
1007- ° 8 ’
19°493,491
6’ ° 7
466,454
Passengers c a r r i e d . . . . - - - ....................
4 j A ,417
P assengers ca rried 1 m ile ------------------- 17,2.>9,645
Rate per passenger per mile. .............
2 69 cts
Tons of revenue freight------------------782,718
Tons of revenue freight 1 mile--------- 69,606,021
Rate per ton per mile.....................—
1.15 cts.
Gross earnings per m ile.------- ---------$7,971
I N C O M E
1908-09.
E a rn in g s —
$
Passenger_________ 463,439
Freight___________ 797,918
Mall, express, &c__ 105,753
Total ...................1,367,110
O p . E x p . & T a xes—
Malnt. of way. & c.. 239,302
Malnt. of equipment 272,882
39,739
Traffic expenses___
Transport’n exp----- 433,541
General expenses—
51,201
Taxes ....................
72,853
Total...................1,109,518
18,237,589
2.71 Cts.
789 ,636
6 7 ,286,948
1.22 cts.
$8,325
18,474,031
2.73 cts.
898,863
7 5,273,892
1.26 Cts.
$9,146
A C C O U N T .
1908-09. 1907-08.
1907-08.
S
S
494,335 Per cent of exp. and
(88.69)
taxes to e a r n in g s (81.16)
818,058
115,301 Net oper. revenue.. 257,592 101,467
95,805
Other Income_____ a69,285
1,427,694
Total net Income. 326,877 257,272
D e d u c t—
310,843
288,932 Interest on bonds__ 175,480 172,126
10,295
37,756 Interest, rentals, &c. 6,088
61,590
504,803 Add’ ns & betterm’ts 35,969
53,943 Dlv. on pret. stk.(5%) 107,140
69,950
Total.................. 324,677 244,011
13,201
2,200
1,266,227 Balance, surplus___
a Other income includes rentals and ldre of equipment (balance) aggre
gating $52,854 (against $84,286 in 1907-08), and interest on current ac
counts, $16,431.
B A L A N C E
S H E E T
J U N E
30.
1909.
1908.
1909.
1908.
L ia b ilitie s —
S
S
A s se ts _
$
S
Cost of property-----8,108,350 8,108,350 Common stock........2,856,500 2,856,500
Add'ns & betterm’ts
77,799 79,103 Preferred stock........2,142,800 2,142,800
Investment account.
15,900 15,800 V. 8. & I*. Railroad
prior lien bonds__ 1,323,000 1,323,000
Stock of materlal,&c.,
on hand________ 122,939 156,417 V. 8. & P. Raima?/
general M. bonds. 1,922,000 1,922,000
Station agents.........
14,427
9,856
29,247
Remittances In transit
27,121 33,213 Int. on M. not due.. 29,247
Sundry creditors__ 156,550 107,497
Cash in hand and in
34,898
bank.................
456,603 177,626 Creditors on pay-roll 37,668
18,187
25,873
Other railroads____
74,106 112,891 Other railroads____
42,642
Sundry debtors____
13,373
27,367 Roll, stock rep. fund 42,151
Bills receivable____
24,000
30,586 Eauln.obllg’ns,p.contra 80,764 100,955
44,298
Eq. trust,per contra.
80,764 100,955 Deprec’n of equlpm’t 91,347
Net revenue account 315,168 222,514
■IPotal
........9.015,313 8,852,224
™ V. 89, p. 1224, 780.
Total...................9,015,383 8.852,224
Pittsburgh -Buffalo Co.
(Financial Statement as of Sept. 30 1909.)
A s se ts —
1909.
1908.
Land, pl’t&equlp*$6,724,6591
Railroad cars........ 264,406J$7,890,616
Accts. & bills rrc. 1,000,973
853.374
130,487
C a sh .................. 879,532
Coal In transit and
supplies in stock
67,789
167,085
Treasury bonds.....................
300.000
L ia b ilitie s —
1909.
1908.
Pret stock.............$1,000,000 SI,000,000
Common stock___ 5.000,000 5,000,000
Bonds............
2,500,000 2,900,000
Accts. payable__
177,034
174,313
Slnk.fd., Int. .taxes
and lnsur. funds 149,386
116,376
Profit and loss___
116,939
150,873
Total ............. $8,943,359 $9,341,562
Total ..............$8,943,359 $9,341,562
* Consists of 11,519 acres coal and 2,104 acres surface lands, Including houses,
mining equipment and manufacturing plants.
The company is not purchasing any coal lands at present In West Virginia, but
it Is understood that there are some purchases being made by another company
which Is headed by the same Interests. Compare V. 89, p. 532, 596.
G EN ER AL IN V E S T M E N T N E W S .
RAILROADS, INCLUDING ELECTRIC ROADS.
Alabama New Orleans Texas & Pacific Junction Rys. Co.,
Ltd.— Change of Address.— The offices of this company were
removed on Dec. 17 to 8 Crosby Square, London, E. C.
— V. 88, p. 563.
American Railways, Philadelphia.— Purchase.— The direc
tors on Dec. 13 ratified the purchase of the stock of the
Johnstown Passenger Ry. (V. 88, p. 1020.) Over $1,000,000
of the $2,000,000 issue (par $50 a share) is said to have been
acquired from President T. Coleman du Pont, and the holders
of the remaining stock, it is understood, will be permitted to
participate in the sale, receiving probably either cash or
American Rys. stock on, it is likely, a share-for-share basis.
For a description of the railway see the Johnstown Co, below.
Sale of New Bonds.— Arrangements have been made to
sell a new issue of $1,425,000 20-year 5% collateral trust
bonds to a syndicate composed of Bioren & Co. and Nowburger, Henderson & Loeb. The bonds will be a direct
obligation of the American Rys. Co., secured by the deposit
of the Johnstown stock and will be dated Jan. 1 1910. The
proceeds will provide funds for payment in cash for such
Johnstown stock as is not exchanged for American Rys.
stock.— V. 89, p. 844, 720.
Atlanta & Charlotte Air Line Ry.— Maturing Bonds.— The
$500,000 preferred mortgage 4 ^ s , the $4,250,000 first mort
gage 4 ^ s and the $750,000 income 4}/£s will be taken up at
par in cash at maturity on Jan. 3 1910 for the Southern Ry.
Co., which will issue in their stead its own first consols.
J. P. Morgan & Co. announce, by advertisement on an
other page, that they have arranged to buy the Southern
Railway Co. first consolidated mortgage 5% gold bonds due
Dec. 11 1909.
,
The $5,500,000 of Atlanta & Charlotte Air Line Ry. bonds are contem
poraneously to be pledged under the iirst consolidated mortgage of Southern
Railway Co. as additional security therefor, very materially enhancing the
security of all of the first consols now outstanding. The Atlanta & Char
lotte Air Line Ry. consists of that part of the main line of Southern Ry.
extending from Charlotte, N. C., to Atlanta, Ga., 263 miles, and it is con
trolled by Southern Railway Co. in perpetuity, through a contract in the
nature of a lease, the rental being interest on the bonds of the Atlanta &
Charlotte and a maximum dividend of 7% perann. on $1,700,000 stock.
E a rn in g s,
& c .,
o f
S o u th e rn
R a ilw a y
C o .
in
R esp ect
o f
A tla n ta
30.
1908-09.
Gross oper. rev. from Atlanta & Char. Air Line___ $4,305,174
Operating income (after oper. expenses and taxes)_ 1,832,566
Interest ($247,500) on Atl. & Char. Air Line bonds
(now to be acquired by Southern), dividend
($119,000) on Atl. & Char. Air Line stock, and
organization expenses ($2,500). . . ------------------369,000
A ir
L in e —
Y ea rs
E n d in g
J u n e
&
C h a rlo tte
1907-08.
$4,000,262
1,477,990
369,000
Surplus accruing to Southern R y. Co. from Atlanta
& Charlotte Air L ine............................................. .$1,463,566 $1,108,990
The gross earnings were In the year ended June 30 1909 at the rate of
$16,369 per mile of road, and the total fixed charge, including dividends,
was at the rate of $1,403 per mile of road.
For the year ended June 30 1909 Southern Ry. Co. had a net income of
$3,511,100 above all charges, or the equivalent of 5.85% upon the pref. stock.
Since July 1 1909 the operations of the company have continued to be
economically conducted, and, with a notable Increase in business handled,
the operating returns for the four months ended Oct. 31 1909 as compared
with the same period of the previous year, showing an Increase in gross
operating income of 10.17% ($1,769,128) and in net operating income of
9.89% ($536,623), the operating ratio, including taxes, being 68.92%,
against 69.05% in 1907-08. Very considerable additions have been made
to maintenance accounts as compared with the same period in the previous
year, but although business handled has increased 10.17%, the cost of
conducting transportation has increased only 1.90%.
Of the total authorized issue of $120,000,000 of first consols, there are
now outstanding, including the $5,000,000 recently sold to you, a total of
$57,879,800 (which includes $347,800 now in the company’s treasury).
The remainder, $62,120,200, arc In the hands of the trustee and can be
Issued only for the acquisition and pledge as further security for the mort
gage of certain prior lien bonds of the system.— V. 83, p. 1410.
Atlanta & West Point RR.— R efunding. — T he shareholders
will vote Jan. 20 on increasing the capital from $ 1 ,2 3 2 ,2 0 0
to $ 2 ,5 0 0 ,0 0 0 , the new shares to be offered to shareholders
a t p ar, to provide for retiring the $ 1 ,2 3 2 ,2 0 0 6 % debenture
certificates.— V . 8 9 , p . 1410.
Atlantic Coast Line RR.— R ise and A ctivity in Collateral
B onds. — T he collateral trust 4s secured b y Louisville & N ash
ville stock were very actively traded in ye ste rd a y ,a n d the
price rose from 91 to 101 and closed at 9 7 .
I t is officially
denied that it is proposed to retire the bonds, which are re
deemable at 105.
The rumor was to the effect that in order
to benefit b y an expected Louisville & Nashville stock bonus,
the A tlantic Coast Line would release the collateral b y re
tiring the collateral b o n d s,a s the indenture securing these
bonds requires the deposit of an y additional L . & N . stock
acquired as further collateral for the bonds.
Increased Incom e on Stock Owned.— See Louisville &
Nashville R R . below .— V . 8 9 , p . 1481, 1346.
Atlantic & Lake Superior Ry.— Sale. — T he holders of cer
tificates of participation in “ T he A tlantic & Lake Superior
R y . trust fu n d ” will meet Jan. 11 1910 at 21 Leadenhall S t .,
London, E n g ., for the purpose of approving an agreement
for the sale of the railway belonging to the trust fu n d . W hile
nothing is said on the m atter, the purchaser, it is supposed,
is or will be the A tlantic Quebec & W estern R y . Co. ( V . 8 9 ,
p . 1 4 1 0 ).— V . 8 9, p . 4 68 .
Aurora Elgin & Chicago RR.— P resident. — The President
of this com pany is L . J. W o lf, not L . F . W o lf, as printed in
V . 8 9 , p . 1480.
Brooklyn Rapid Transit Co.— Valuation o f P ro p erty .—
B ion J. Arnold, consulting engineer of the Public Service
Com m ission, First D istrict, on W ed n esd a y, in the hearings
before the Commission on the application pending before it
to reduce the fare to Coney Island from 10 to 5 cents, testi
fied that while he was not prepared to give individual valua
tions of the constituent companies he had reached the con
clusion that the entire physical property of the companies
controlled could be reproduced for $ 1 0 0 ,0 0 0 ,0 0 0 .
The esti
m ate is based on the cost of reproducing the property in
everything' except real estate.
Mr. Arnold says:
To this figure of $100,000,000 it Is probably proper to add certain other
figures to take care of development expense, discount on securities, and
many other expenses incidental to the development and organization of a
railroad company, so that if certain values are added to this figure of $100,000,000,lt Is not improbable that these items might bring the figure up so
as to approximate the capitalization of the company."
Mr. Arnold said it would take a week or ten days to arrive at the valua
tions of the properties of the individual companies. The capitalization of
the companies forming the system, exclusive of three companies which are
not constituent companies, but merely leased, namely the Prospect Park
& Coney Island, the Prospect Park & South Brooklyn and the New York &
Coney Island RR. companies, is about $142,000,000. The combined cap
italization of these three companies Is about $2,000,000.
The Commission, in reply to an inquiry by the Legislature at its last
session, stated that it would be impossible to reach any conclusion in the
Coney Island fare question until a valuation had been made of the physical
properties and other assets of the company. The company's counsel
objected to the admission of the testimony on the ground that under the
law It is entitled to a 10% profit on the capital actually Invested, and that
the question of the present cost of the physical property is not relevant.
The Commission overruled the objection, holding that the law as to the
10% profit had been repealed by the Public Service Commissions Law.
— V. 89, p. 1481.
Canadian Northern Ry.— Saskatchewan M ay Guarantee A dd i
tional B onds. — A press despatch from Regina D ec. 10 says:
The Saskatchewan Government has decided to guarantee bonds on three
new lines on the Canadian Northern R y. to be built next spring, the first
f 596
THE CHRONICLE
from Regina to Moose Jaw, paralleling the Canadian Pacific R y „ the second
from Regina to Edmonton, the third from Regina to Calgary, via the present
Goose Lake line. The latter will be 50 miles shorter than the present Ca
nadian Pacific line. Compare V. 89, p. 1480, 1346.
^C hicago Burlington & Quincy R R.— Called Bonds.—
Burlington & Missouri River R R. in Nebraska 6% bonds,
due July 1 1918, drawn for payment, viz., 8226,000 bonds
for 81,000 each and 826,400 bonds for 8600 each, were due
and payable at the New England Trust Co., Boston, on
Jan. 1 1910.— V. 89, p. 1541, 1139.
Chicago Milwaukee & St. Paul R y .— Bonds Offered.—
Kuhn, Loeb & Co. and the National City Bank announced
on Wednesday that the larger part of the 825,000,000
general mortgage 4% bonds purchased by them having been
sold at 1003^ and interest, the selling price of the remaining
bonds has been advanced 1% .— V. 89, p. 1541, 1346.
Chicago Rock Island & Pacific R y.— Officers.— The fol
lowing officers have been elected:
George H. Crosby, Vice-President, Secretary and Treasurer, with office
in Chicago: Geo. T. Boggs, Vice-President and Assistant Secretary, with
office in New York; H. M. Sloan, Vice-President and Assistant to Vice
Chairman of the executive committee; J. J. Quinlan, Assistant Secretary
and Assistant Treasurer; \V. Hodson, Assistant Treasurer, and F. Nay
Comptroller, also in Chicago.— V. 89, p. 1541, 1164.
^D elaw are River RR. & Bridge Co.— Dividend Increased.—
A semi-annual dividend of 4% has been declared, comparing
with 2% in June last and 3% half-yearly in 1908. The
stock (81,300,000) is all owned by the Pennsylvania RR.
1900. 1901. 1902
Dec , 2 4
4
— V. 83, p. 1524.
.D i v i d e n d
1903.
4
R ecord
1904.
4
(P e r
1905.
4
C e n t).
1906.
5
1908.
6
1909.
6
Denver (Col.) City Tramway.—Refunding.— The 81,219,
000 first mortgage 6% gold bonds of the Denver Tramway
Co., dated Jan. 1 1890, due Jan. 1 1910, will be paid, prin
cipal and interest, at maturity at the Mercantile Trust Co.,
120 Broadway, N. Y . City.
ggClark, Dodge & Co., 51 Wall St., N. Y ., and the Inter
national Trust Co., Denver, have purchased the 81,219,000
“ first and refunding sinking fund mortgage” bonds of the
Denver City Tramway Co., dated Nov. 1 1908, issued for
refunding the 6s, and offer up to and including Dec. 31
1909, to give in exchange for the maturing bonds, at 100
and int.in full to Jan. I 1910, “ first and refunding” bonds at
96 and interest to Jan. 1 1910; in other words, for each 81,000
6% maturing bond deposited 81,000 “ first and refunding”
5% bond and 861 67 in cash.— V. 88, p. 882.
Detroit Toledo & Ironton R y.— Addition to Protective Com
mittee.— Hon. Luther R. Moore of Saco, Me., has been added
to the “ general lien and divisional first mortgage” 4% bond
holders’ protective committee to represent Maine bondhold
ers. Compare V. 89, p. 1482, 1541.
Eastern Ohio Traction Co .— Cleveland <fe Eastern Plan.—
The committee, consisting of II. P. McIntosh, It. A. Har
man, W. D. Rees, W. N. Gates and II. Clark Ford, with
Alonzo M. Snyder, Secretary, representing the Cleveland &
Eastern R y. bonds, has sent to holders a circular dated
Cleveland, Nov. 22, saying in'substance:
Your committee has fixed Dec. 10 1909 as the final date for deposit o
Cleveland & eastern first mortgage gold bonds under the reorganization
plan. All bonds except about $57,000 (out of $1,000,000) have already
been deposited.
Owing to the lapse of time and other considerations, it lias been necessary
to make a new calculation of Interest and a readjustment of preferred stock
as hereinafter set out. It has also been decided to have the bonds begin to
draw Interest on Jan. 1 1912. This Is done not because the interest will
not be earned, but because the company should have at least $100,000
for needed repairs and betterments. Therefore it has been decided to
raise a portion of this sum by making the bonds non-interest-bearing until
the above date Instead of making an additional assessment. This will
enable the new company to use this interest (earnings) for the above pur
poses and Increase the bonds’ security.
D i s t r i b u t i o n o f $500,000 P r e f e r r e d S t o c k ( I n s t e a d o f $400,000 F i r s t P r o p o s e d ) .
Give to the holder of each $1,000 face value of existing bonds,
with 80% of new bonds, $200 In preferred stock, o r________ .$200,000
Par In preferred stock for all accrued Interest to Jan. 1 1910, as per
unpaid coupons, estimated a t___ ____________________________ 202,025
Interest allowed to Jan. 1 1912 (new bonds).................................. _ 80,000
Outstanding receiver’s certificates— par of preferred
* lo ’ 975
_______
7,000
Remaining In treasury____ _________________________
gMIt is expected that the sale will go forward at an early date.
ISfThc plan of April last, now modllled as above, says in substance as to
matters still of importance:
•**,’ ’This dlvisi n consists of a line of railway from Cleveland to Chardon
and MIddlefleld. There are 39.2 miles of track, not Including side tracks,
with power house and rolling stock.
Organize a corporation to purchase the property with a capital stock of
$1,000,000, of which $600,000 shall be common stock and $400,000 (now
changed to $500,000.— Ed.) 5% non-cumulatlve preferred stock. Pro
vide for an Issue of $1,000,000 5% 20-year gold bonds redeemable at par
and Interest on any Interest date after three years. Issue $800,000 of the
bonds (in partial exchange for existing $1,000,000 bonds, Ed.), the other
$200,000 to remain In the treasury to be issued for betterments at 80% of
cost, said additional bonds, before being Issued, to be offered pro rata to
stockholders. Of the common stock, $400,000 will go with the $800,000
new bonds, being 50% thereof, and $200,000 common stock will be retained
in the treasury. To care for damage claims, court costs and other expenses,
and pay current bills, It Is estimated there will be required about $20,000.
This amount will be provided by a pro rata assessment upon the new bonds.
Depositary, the Guardian Savings & Trust Co., Cleveland.” ]—V .89, p . 1 5 4 1 .
Florida R y.— Mortgage.— This company has filed at Jack
sonville, Fla., a mortgage to secure an issue of 84,000,000
bonds. Work on an extension from Jacksonville to Fernandina and some point north, it is said, will probably begin
at an early day. The road is in operation from Perry to
Live Oak, Fla., 52 miles, with branches, 7 miles.
The new bonds will be 50-year 5s, dated July l 1909, subject to call at
106 and Interest at any Interest date after July 1 1014. Carnegie Trust Co..
New Ybrlr, trustee.
•
Officers.— President, Frank Drew, Live Oak, Fla.; Vice-Pres., Geo. L.
Drew, Jacksonville, Fla.; Treasurer, Frank Drew; Secretary, T. P. Alston
General office, Live Oak, Fla.— V. 81, p. 1242.
[VOL. LXXX1X
Capital stock authorized, $1,000,000; issued, $873,375.
The bonds
offered are a first mortgage upon all property now owned or hereafter
acquired, and are part of a closed mortgage of $500,000, of which $350 000
are outstanding.
v
’
E a r n i n g s f o r 9 M o n t h s e n d i n g N o v . 30 1909.
M
c h .
A p r .
M a u .
J 'n e .
J u ly .
A u g .
S e p t.
O ct.
N o v
T o ta l.
„
s
$
$
$
$
s
$
$
s
$
Gross - 2,704 2,768 3,082 3,333 3,742 4,198 4,139 4,450 4,163
32.579
Net ———, 141 , 458
617 878 1.079 1,813 1,880 2,004 1,710
10.579
f o r the calendar year 1910 estimated gross, $102,600; net, $45.5(M)
Int. on $350,000 ;it 5% , $17,500; bal., sur., $28,000.
’
'
The railway, when completed, will be 18 miles in length, including a line
on Broadway, the principal business street, extending north and south from
the U. S. .Steel Corporation mills, passing the railway stations, 3 miles;
also on 5th Ave. a residence street, 7 miles; also on 11th A vc., one mile
south, through Tolleston into Hammond. Nine miles are now in opera
tion, and the entire system will be in operation by January 1910. Power
plant is completed and furnishing power. Franchises: Gary, expires
July 6 19o7; lolleston. May 8 1959; Hammond, May 15 1939.
Dlrectom— George H. Ross, F. C. Raff, F. N. Gavit (President), A. C.
Miller, and J. D. Price.— V. 89, p. 993.
Great Northern R y.—Control of Spokane eft Inland Empire
Acquired.— The company has acquired a controlling interest
in the Spokane & Inland Empire (Electric) R R ., operating
247 miles of track, which will be used as a feeder. The
Spokane & Inland Empire R R. has outstanding 810,000,000
common and 86,311,500 preferred stock, owns the entire
capital stock of the Coeur d ’ Alene & Spokane Ry. Co., the
Spokane Terminal Co., the Spokane Traction Co. and the
Spokane & Inland Ry. Co., all of which are operated as
divisions of it. Compare statement on page 111 of “ Electric
Railway” section for Oct. 1909.— V. 89, p. 1482, 1141.
Interborough Rapid Transit Co., New Y o r k —Listed in
London.— The London Stock Exchange has granted a quo
tation to 811,590,000 5% 45-year gold mortgage bonds,
series “ A ,” due 1952, Nos. 1 to 1,590 and 30,001 to 40,000,
for 81,000 each.— V. 89, p. 1411, 778.
Interoceanic Railway of Mexico.— See “ Annual Reports.”
Lease of Mexican Southern.— See that company on page
1542 of last week’s “ Chronicle.”
Dividends Increased.— The directors have declared a divi
dend of 5% on the first preference stock, comparing with
433% paid last year, and an initial dividend of 1% on the
second preference stock; also the regular dividend of 7% on
the “ B ” debenture stock, all payable, less income tax, on
Dec. 11.— V. 89, p. 1223, 286.
Interstate Railways, Philadelphia.— Bonds Deposited with
Philadelphia Trust Co. to be Released— Earle Committee Ar
ranging Leases of Controlled Properties.— The old bond
holders’ committee, of which Gerald Holsman was Secretary
and Edward B. Smith & Co. were managers, has instructed
the Philadelphia Trust, Safe Deposit & Insurance Co.,
depositary, to return the deposited collateral trust 4 %
bonds to the depositors upon payment of 86 per 81,000
bond (instead of 89 34 as first contemplated) to cover the
compensation and expenses of the managers and committee.
The “ Philadelphia News Bureau” of Dec. 9 said:
This action, It Is expected, will result In a large addition to the $6,045,000
bonds now deposited with the Real Estate Trust Co. under the Earle plan
ami will further early action declaring the Earle plan operative
The general plan for leasing all the properties on a long-term rental basis
will take some little time to work out. 'L’hc Wilkes-Barre matter (WilkesBarre & Wyoming Valley Traction Co.; see new Wilkes-Barre Ry Co In
V . 89, p. 1544.— Ed.) is settled and the 800-year lease will go Into effect
within a few days. The other subsidiaries are In three groups— Reading,
Wilmington and Trenton. Active negotiations are underway for the lease
of the Trenton properties to a syndicate being formed by F. W. Roebllng.
It Is understood that the du Fonts arc considering a plan for the formation
of a company to operate the Wilmington lines. The situation as regards
Reading is still Indefinite, but tentative negotiations arc under way
This arrangement of leasing all the subsidiaries will result in making the
Interstate practically a holding company, receiving rentals
The lease of the Wilkes-Barre properties provides for an annual rental
beginning with $360,000 the first year and increasing $10,000 annually
until the maximum of $400,000 13 reached. This amount alone will pro
vide funds for the Interest on the United Power & Transportation 4%
bonds. It Is expected that the rentals from the other three groups will
take care of the Interest on Interstate 4s and It Is hoped will also bring In
sufficient money for some dividend on Interstate stock. If this scheme
works out successfully It must be regarded as a success for Mr. Earle’s
plan.— V. 89, p. 1141, 1069.
Johnstown (Pa.) Passenger R y.— Change in Control.— See
American Railways above.
Bonds— Status.— Spencer Trask & Co. recently offered
8229,000 refunding mortgage 4% gold bonds of 1901 issued
to retire a like amount of first 6s due March 1 1910. With
the 6s paid off the funded debt will be: Refunding 4s out
standing, 81,601,000; consol, mtge. 4s, due Dec. 1 1929 (to
retire which the remainder of the 82,000,000 refunding issue
is reserved), 8399,000; total, 82,000,000. A circular says:
Owns and operates about 35 miles of track In Johnstown and vicinity.
Including a 12-mile line to Wlndber, running through various villages.
Population served estimated at about 78,000. The track and roadway are,
as a whole, In excellent condition; about i4 M miles of city track has been re
constructed since 1905 with 89 and 95-lb. grooved rail. The rolling stock
comprises 8 double-truck Interurban cars, 46 single-truck closed cars, 13
single-truck closed trail cars and 40 single-truck open cars. The power
afcitlon Is centrally located, of brick and steel, and contains three 500 Kw.
Westinghouse electric generators directly connected to three 750 h.p. Cor
liss engines with automatic stokers. The company owns a coal mine (cov
ered by the mortgage), comprising 34 acres, and opening on the power sta
tion land: It was purchased after the big coal strike to safeguard the fuel
supply. A good grade of coal, however. Is now being purchased from out
side sources. Franchises are liberal, free of onerous provisions and un
limited as to time.
E a r n i n g s f o r C a l e n d a r Y e a r s 1905 t o 1908 a n d 9 Afos. e n d i n g S e p t
30 1909
.
Y ea r
Y ea r
Y ea r
Y ea r
'
9 M os. ’
1905.
1906.
1907.
1908.
1909.
Gross earnings----------------- $386,834 $440,672 $488,555 $434,698 $361,699
Net (after taxes & deprec.) 185,114 220,143 193,211 161 993 15 2 921
Interest on b on d s ............. 82,160
82,160
82,160
8 2 H60
61,620
Balance.......................... $102,054 $137,983 $111,051 $78,833 $91,301
The $2,000,000 stock Is receiving dividend? of 3% per ann.-—V.88,p.l620.
Kanawha & Michigan Ry.— The directors, it is reported,
have passed a resolution stating in effect that 40% of all
Gary & Interurban Ry .— Bond Offering—Further Par net earnings shall be considered as a “ fund to be used by
ticulars.— Cram, Mulliken & Co., New York and Boston', the directors for the benefit of the stockholders.” This is
have issued a circular offering 8225,000 first mortgage 5s apparently a concession to . the minority stockholders.
at 953£ and interest, yielding about 5% % . The circular says Compare V. 89, p. 1483, 1411.
y 4 •’ ,
THE CHRONICLE
D e c . .8 1909.|
K an sa s C ity R ailw ay & L ig h t C o . — New Franchise Voted
Down.— The citizens of Kansas City, Mo., at the referendum
election on Dec. 16 voted by a majority of 7,091 not to grant
to this company's subsidiary, the Metropolitan Street Ity.
Co., a new 42-year franchise to replace the existing fran
chise, which still has 16 years to run. The proposed fran
chise called for the sale of six tickets for a quarter, to be sold
on the cars, and 25 tickets for $1, to be sold in 25 drug stores
of the two Kansas cities.— V. 89, p. 1347.
L eavenw orth Terminal R y . is Bridge C o . — Suit.— The
company lias brought suit in United States Circuit Court
at St. Paul to collect $280,000 from the Chicago Great West
ern Ry. Co., being the annual rental from 1909 to 1925 under
a 30-year lease which was made in 1895. In the reorganiza
tion of the Chicago Great Western Ry. this lease was aban
doned by the new Chicago Great Western Railroad. E. W.
Snyder is President. Compare V. 69, p. 494.
L ehigh V a lley R R . — On Regidar 6% Basis.— The directors
on Wednesday declared a “ regular” semi-annual dividend of
3% on the $40,334,800 common stock, payable Jan. 8 to
holders of record Dec. 24. The same amount was paid semi
annually in 1907 to 1909, inclusive, but of this 2% only was
the regular dividend, the remaining 1% being extra.
P r e v io u s
D iv id en d
R eco rd
(P e r
G e n t)
o n
C o m m o n
S to ck .
Year
/ ’87. ’88 to ’ 91. ’92. ’93.’ 94 to ’ 03. ’04. ’05. ’06. ’07. ’08.
Per cent. 1 4 'A 5 yearly 5M 4
None
1
4
4
6 6
— V. 89, p. 1483, 914.
’09.
6
Louisville is Nashville R R . — Stock on 7% Basis.— 1
The
directors have declared a semi-annual dividend of 3 % % on
the $60,000,000 stock, payable Feb. 10 to holders of record
Jan. 20, comparing with 3% in Aug. last, 2 % % in Feb. 1909
and Aug. 1908, and 3% previously since Feb. 1905.
P r e v io u s
D iv id en d
R ecord
(P e r
C en t).
’89.
’ 90. ’ 01. ’92. ’93. ’Ol-’OS.
’99. ’00. ’01-’04. ’05-’07. ’08. ’09.
5stk.
6 5 4M
4 None.
3 'A
4 5 yearly 6 yearly 514 5 'A
In Feb. 1008 3% paid In cash and 1 % In Louisville Property Co. stock.
A majority ($30,600,000) of the stock Is owned by the Atlantic Coast
Line R R . Co.— V. 89, p. 1223, 1141.
M ahoning is Shenango R ailw ay is L ig h t C o . — Bonds Of
fered.— Lee, Higginson & Co., Boston, New York, Chicago,
and Blair & Co., 24 Broad St., New York, are offering at
97 and interest, yielding nearly 5 % % (by advertisement on
another page) the unsold portion of a block of $3,800,000
first consolidated refunding mortgage 5% bonds, tax-exempt
in Pennsylvania, dated Nov. 1 1905 and due Jan. 1 1916,
but redeemable at 105 and interest on any interest date.
Interest J. & J. New York Trust Co., trustee.
1597
(2) To Issue and sell gold coupon notes of the Massachusetts Electric
Companies to an aggregate amount not exceeding $5,000,000, payable at
such time or times, and bearing such rate of Interest, as they may deem
expedient, the proceeds to the extent of $3,500,000 to be used to pay for
an Issue of similar notes dated July 1 1905 and maturing July 1 1910, and
the remainder for general purposes. As collateral for such notes the trus
tees are authorized to deposit with a trustee shares of the Old Colony Street
Ry. Co., and shares of the Boston & N ;rthern Street Ry. C j. or other
shares, property or securities now or hereafter owned.
At this meeting, also, President Abbott stated that after
the payment of the January 1910 dividend the accumulated
dividends on the preferred shares would aggregate 1 7% %
(some $3,648,939). For the past year, he said, the com
pany earned about 4.46% on its preferred stock, and until
the earnings show a fair balance over the full 4% per annum
on the preferred shares, it cannot be expected that any action
toward payment of accrued and unpaid dividends will be
taken. Preferred dividends were resumed in January 1909,
with 1% , followed in July by 1 % % and now by 1 % % .
Compare V. 89, p. 1411, 1540.
Mexican International RR.— Report.— See “ Annual Re
ports” on a preceding page.
To be Transferred to National Railways Co.— See that com
pany below.— V. 89, p. 1142.
Minneapolis St. Paul is Sault Ste. Marie R y — Listed in
London.— The London Stock Exchange has listed the S10,900,000 4% leased line stock certificates already listed in
New York.— V. 89, p. 993, 779.
National Railways Co. of Mexico.— Report.— See “ Annual
Reports.”
Proposed Transfer of Mexican International RR.— The re
port of the company on a subsequent page states that the
company on June 30 arranged to acquire the stock of the
Mexican International R R. held by the Southern Pacific Co.
[$4,172,100; see V. 89, p. 1430— Ed.], and that steps are
being taken to transfer the properties of that company to the
National Railways and incorporate the same in the system.
The National company already owned $15,825,400 of the
$20,708,200 Mexican International stock, of which $15,785,
200 are pledged under the consolidated mortgage deed dated
March 15 1902.— V. 89, p. 1223, 993.
Newton & Northwestern RR.— Verdict Against Bankers.—
See item under “ Banks, Bankers and Trust Companies” on
page 1520 in last week’s “ Chronicle.” — V. 88, p. 101.
New York New Haven is Hartford RR.— Temporary 4%
Loan.— An exchange journal on Dec. 10 said:
Tlic company has recently borrowed $5,000,000 on 9-months’ paper at
4% from a leading New York trust company. It is understood that the
money will be used for current property developments and the note will be
$10,000,000.
paid at maturity with the cash coming in on account of Installments of the
Outstanding, Including bonds now olfered....................................$3,996,000
Issuable for future additions and Improvements_______________
406,000 current offering to stockholders of $50,000,000 new stock at 125.
Reserved solely to retire, par for par, divisional bonds of system. 5,598,000
Consolidation of Subsidiaries.— The Public Service Com
Abstract of Letter from President Norman McD. Crawford, Youngstown, mission, Second District, has granted the application of the
Ohio, Dec. 1 1909.
The bonds purchased by you are part of an authorized Issue of $10,000, New York Westchester & Boston Ry. and the New York &
000 secured by direct mortgage upon all the properties now owned by the
company and by pledge of all the securities of subsidiary companies now Port Chester RR. to consolidate their capital stock, property
owned, viz., $3,750,000 of mortgage bonds and $6,441,999, par value, of and franchises, the capital stock of the consolidated com
capital stock, being substantially all the outstanding stocks of subsidiary pany not to exceed $5,000,000.
companies. The above properties and securities are subject In part t > the
The consolidated corporation to be formed Is authorized to abandon such
Hens of $5,782,000 outstanding divisional bonds. Of the total authorized
Issue, $5,598,000 are held by the trustee for retiring divisiontl uouus, portions of the proposed routes of the two existing corporations as are not
$1,325,000 were Issued in part payment of properties acoulred, and $2,671, necessary to form one continuous route from the Harlem River, New York
000 have been Issued for betterments, extensions, &c,J leaving $406,000 In City, to Port Chester, with a branch line from about 177th Street to Throgg’s
the treasury for future additions and imp -oven ents. With $3,996,000 Neck, and one from Mount Vernon to White Plains or to Elmsford, in case
outstanding (which Include those sold to you) the company will have no the application to abandon that portion of the line extending from White
iloatlng debt and will have cash in Its treasury for further Improvements.
Plains to Elmsford should hereafter be denied. The Commission denies
The company was Incorporated in 1905 In Pennsylvania, and has out 5 he application so far as it requests the abandonment of a portion of the
standing $4,000,000 pref. cum. 5% stock and $6,000,000 of common stock. route from Clason’s Point to Throgg’s Neck; but so far as It refers to the
The system comprises more than 145 miles of o'cctrlc railway in the val abandonment of the portion of the branch line from White Plains to Hall’s
leys of the Mahoning and Shenango rivers, Including the local street rail Corners or Elmsford, no decision is made at present. A further order will
way systems In Youngstown, O., and New Castle, Pa., and laterurban lines be made In relation to this matter. Compare V. 88, p . 625.— V. 89,
between New Castle and Youngstown, New Castle and Hubbard, Youngs p. 1542, 1483.
town and Sharon and Youngstown and Warren; with an equipment of 246
New York is Portchester RR.— Consolidation.— See N. Y .
cars, power plants, the electric-lighting systems serving Youngstown, New
Castle, Sharon and several smaller towns; als> two parks, comprising 120 New Haven & Hartford RR. above.— V. 87, p. 873.
acres. The properties are mostly withlnithe triangle bounded by Youngs
town, New Castle and Sharon.
New York Westchester is Boston Ry.— Consolidation.—
The population of the towns directly served aggregated 70,274 In 1890;
In 1900, 111,224, and In 1009 (estimated), 174,675. The rural population See N. Y . N. H. & Hartford R R. above.— V. 88, p. 1128.
of the country traversed adds many thousands to this total. This enthc
Norfolk is Western R y.— Sale of Treasury Common Stock.—
territory may bo regarded as an extendon of the Pittsburgh district. Steel
and other Industries are building up a practically continuous population The company has sold to Kuhn, Loeb & Co. at a price said to
along these valleys. In the Younts town district arc Included several works be about par the $1,530,800 common stock heretofore held
of the United States Steel Corporation, the Youngstown Sheet & Tube Co.,
the Republic Iron & Steel Co., the National Malleable Castings Co., the in the treasury. The total amount of common stock issued,
American Steel Foundries Co., the American Sheet & Tin Plate Co., the including the stock just sold, is $66,000,000. The stock has
American Steel & Wire Co.t the Drlggs-Seabury Ordnance Corporation, the been quoted slightly above par since Thursday of last week.
Sharon Steel Hoop Co., 6o\
All the railway franchls a In Pennsylvania are perpetual; 53 miles of track
T h e p r o c e e d s o f t h e s a l e . I t is s a i d , w i l l b e u s e d f o r d o u b l e - t r a c k i n g t h e
are on private rights of way, with perpetual rights. Most of the franchises l i n e in O h i o a n d f o r o t h e r i m p r o v e m e n t s . — V . 8 9 , p . 9 9 4 , 9 1 9 .
not perpetual have still 20 or more years to run, and the most Important
Ocean Shore R y., California.— Deposit of Remaining Bonds
have recently been renewed for 25 years. The property as a whole Is In
good operating condition. Large sums have been expended on betterments,
Urged.— Referring.to the appointment of a receiver on Dec. 7
and further Improvements which are now under way should add considera
bly to the net Income. Particularly Is this true of the electric-lighting busi the reorg. committee on Dec. 8 issued a circular stating:
ness, which as yet is only partially developed.
T h is a c t io n d o e s n o t r e q u ir e th e w it h d r a w a l o f a n y b o n d s d e p o s i t e d b y
th e b o n d h o ld e r s w ith th e M e r c a n tile T r u s t C o . o f S a n F r a n c is c o u n d e r c o n
ay E a r n i n g s f o r C a l e n d a r Y e a r s ( T h r e e M o n t h s E s t i m a t e d i n 1909).
t r a c t o f J u ly 9 1 9 0 9 .
O n th e c o n tr a r y , th e c o m m itte e u rg es th a t th e b o n d
,
1909.
1908.
1907.
1906.
$1,965,000 $1,747,927 $1,900,662 $1,670,088 h o l d e r s d e p o s i t t h e i r b o n d s a t o n c e s o t h a t t h e p l a n ( V . 8 9 , p . 3 4 9 ) c a n b e
Gross earnings----------Net earnings, after taxes----- $839,000
$588,753
$750,803 $666,642 d e c l a r e d o p e r a t i v e a n d t h e r e c e i v e r r e m o v e d .
[P r e s id e n t J . D o w n e y H a r v e y s a y s t h a t a ll e x c e p t p e r h a p s 2 0 % o f t h e
Other income---------------------20,000
47,875
40,485
17,854
D is p o s itio n
o f th e T o ta l A u th o r iz e d
Total income-------------------Total deductions. Inch lnt.
on divisional bonds and on
consol, ref. 5s------------------
B o n d
Iss u e ,
$859,000
$636,628
$791,288
$684,496
491,000
463,951
436,921
388,152
.Surplus earnings-------------- $ 368,000
$172,677
$354,367
$296,344
The total interest charges In 1910, including Interest on $3,996,000 con
solidated refunding bonds, will be about $494,000.
The surplus Income for the last four years has amounted to about $1,
190,000; of this surplus only $150,000 has been paid In dividends on pref.
stock; the remainder has been used for additions and Improvements or
retirement of debt.
Directors— Otto T. Bannard, W. T. Burns, Norman McD. Crawford.
Myron T. Herrick, George W. Johnson, Alexander McDowell, Benjamin F.
Miles, James Parmelee and E. N. Sanderson.— V. 87. p. 1479.
■Massachusetts Electric Companies, Boston.— Annual
Meeting.— The shareholders at the annual, m eeting on Dec.
10 voted to authorize the trustees in their discretion—
(1) To sell and dispose of any or all of the preferred shares of the capital
stock of the Boston * Northern Street Rv. C4. and the Old Colony Street
R y. Co. which they may acquire during thelourreot year.
■
b o n d h o ld e r s h a v e a g r e e d t o th e p la n a n d a d d s ;
“ T h e r e is a la r g e t r a f f i c
a w a itin g th e c o m p le t e d
r o a d w h ic h is o u t o f o u r r e a c h a t p r e s e n t .
The
r e c e i v e r s h i p w i l l s t a v e o f f s u i t s a n d l i t i g a t i o n a n d a i d In t h e r e o r g a n i z a t i o n . ’ ’ ]
Receiver's Certificates.— I t was proposed last week to apply
for authority to Issue $2,000,000 receiver’s certificates to
carry on construction. The coupons due Nov. 1 on the
outstanding bonds have not been paid.— V. 89, p.1542, 1484.
Old Colony R R . — Stock at Auction.— R. L. Day & Co. sold
at public auction on Dec. 15 the 5,738 shares of stock not
taken at 195 by shareholders last month, the result beingjas
follows: 287 shares to Jackson & Curtis at 195%; 452 shares
to Wainwright & Co. and 4,999 to Geo. B. Phippen, Treas
urer Old Colony RR., both at 195. See V. 89, p. 1224, 1543.
Omaha is Council Bluffs Railway & Bridge Go.— InterState Commerce Commission Orders Reduction of Rates.— The
Inter-State Commerce Commission on Dec. 13, on the com
plaint of the West End Improvement Club of Council Bluffs
THE CHRONICLE
1593
against the company, ordered a reduction of fare between
Council Bluffs and Omaha from 15 to 10 cents.
The company denied that thoCommlssIon had Jurisdiction, but the Com
mission held It had, Inasmuch as the road extends from one State Into
another.— V. 80, p. 1281, 1224.
Pere Marquette RR.— Application to List.— The company
has made application to the New York Stock Exchange to
list $12,230,000 refunding mortgage 4 % bonds.— V. 89,
p. 1543, 1281.
Philadelphia & Chester Ry.— Sale Postponed.— The prop
erty was offered at auction Dec. 10 under foreclosure pro
ceedings, but there were no bidders and the sale was again
postponed until Feb. 10.— V. 89, p. 779, 225.
Quebec Railway, Light, Heat & Power Co., Ltd.— Merger.
— Mr. Rodolphe Forget, M. P., having completed all nego
tiations for the merger of the public utilities of the city of
Quebec under the title of this company, incorporated under
the Canadian Companies Act Nov. 19 1909, made in Mon
treal on Dec. 14 the following official statement:
[VOL. LXXXIX.
The bonds are dated Jan. 1 1910 and mature $72,000 annually from Jan. 1
1911 to Jan. 1 1920; interest Jan. and July 1. Denomination $1,000; Mer
cantile Trust Co., New York, trustee. A circular says: "Tho bonds are
secured on new standard equipment costing $848,576, the railway com
pany making a payment of 15% of cost. In addition to being a lien on
valuable equipment, the bonds are direct obligations of the railway. The
equipment covered Is as follows: 10 consolidated type locomotives, 6
10-wheel locomotives, 14 coaches, 6 chair cars and 500 combination stock
and lumber cars.— V. 89, p. 1543.
Southern Pacific Co.— Sale of Mexican International Stock.
— See Nat. Rys. of Mex. above.— V. 89, p. 1412, 1142.
Southern R y.—Refunding.— See Atlanta & Charlotte Air
Line R y. above.— V. 89, p. 1543, 1011.
Southwestern Street R ys., Philadelphia.— Sale Feb. 8.—
The foreclosure sale is now set for Feb.8.— V. 89, p. 1543, 779.
Spokane & Inland Empire R R .—Control Acquired by Great
Northern.— See that company above.— V. 86, p. 858.
Toluca Marquette & Northern R R .—Sold.— The road was
sold for $150,000 at receiver’s sale on Dec. 10 by Robert
Lovett, Master in Chancery, appointed by the Federal Court.
The Rutland Toluca & Northern R R ., which was the only
bidder, was incorporated in Illinois as successor last month
All negotiations are now completed, and the following companies will be
with $97,000 authorized stock. The incorporators of the
Included In the merger:
Quebec Railway, Light & Power Co. IQuebec Jacques Cartier Electric Co new company are:
Quebec Gas Co.
Canadian Electric Light Co.
Frontenac Gas Co.
I
The new company has an authorized capital of $10,000,00 of stock (par
of shares $100) and $10,000,000 of bonds. Of the stock. It Is Intended to
Issue $9,500,000 and of the bonds $8,654,600 [Including, It Is learned,
the amou it reserved to retire underlying bonds, viz.: $2,500,000
Quebec Railway, Light & Power Co. 5s due In 1923: (compare V. 89, p.
915); $849,000 Jacques Cartier 1st ref. 5s due Dec. 1 1931, and Canadian
Electric Light Co. bonds, $310,000.— Ed.]
The amount of the bonds available for underwriting was $4,200,000, and
nearly all of this has been taken in firm subscriptions, so that there will not
likely be any offering whatever. The securities now Issued will, besides
paying for all companies taken over, provide ample working capital for the
new concern. The bonds are dated Dec. 1 1909, and the Interest will be
payable on them Dec. 1 and June 1. The Royal Bank of Canada will act
as bankers for the new company and the Montreal Trust Co. will serve as
trustees for the bondholders.
The board of directors will likely be as follows: W. G. Ross, President;
Wm. Price, Vice-President; R. Forget, M. P.: J. N. Greenshields, K. C.;
A. Haig Sims and Hon. Dubord; Neuvllle Belleau, Lome C. Webster,
L. P. Pelletier, K. C.; E. H. Ewing and J. W. McConnell.
[The “ Montreal Gazette" of Dec. 8 said: "The securities of the new
company have been strong on the local market, sales of the bonds being
made at 93, with 3 7 ^ % bonus, as compared with 90 and 50% bonus at the
outset.” The $2,500,000 common stock of the Quebec R y. Lt. & Power
Co. lt has been reported would be exchanged at two new shares for one
° ll\Ve learn that the stock Is all of one class and that the bonds are 30-year
5s dated Dec. 1 1909, which are subject to call at 105 after 5 years; also that
the outstanding $200,000 Quebec Gas 5% bonds have been acquired by
the new company.— Ed. "Chronicle."]
Rapid Transit in New York City.— City Liable to Abutting
Owners for Damages by Subway Construction.— The Court of
Appeals of this State yesterday handed down decisions in
several cases brought by property owners in Joralemon Street,
Brooklyn, along the line of the present subway, holding that
the city is liable for damages to the property or easements
of abutting property owners.
The Court holds that as the city Is permitted and not required to build
an underground railroad, It should be treated the same as any corporation
and not as a sovereign; lt cannot appropriate private property, either as a
municipal government or as a railroad corporation, without paying for It.
It is further held that the use of streets by the city In constructing the sub
way Is not a street use as that term Is known In the law.— V. 89, p. 1281,1142
Reading Co.—Common on 6% Rate.— The directors on
Wednesday declared a semi-annual dividend of 3% on the
$70,000,000 common stock, payable Feb. 1 to holders of
record Jan. 15, comparing with 2% disbursed half-yearly
since Aug. 1905 and lj^ % in Feb. 1905, when distributions
were begun.
D iv id en d
1905.
1906.
R a te
4
— V. 89, p. 843. 782, 774.
3 X
o n
1907.
4
C o m m o n
S to ck
1908.
4
(P e r
C en t).
1909.
4
1910.
Feb., 3
Rutland Toluca & Northern RR.— New Co.— See Toluca
Marquette & Northern R R . below.
St. Louis & San Francisco RR.— Another Large Block of
5% Gold Bonds Placed in Paris.— A strong French syndicate
headed by the Banque de l’ Union Parisienne and the Societe
Financiere Franco-Americaine, Paris, have concluded ne
gotiations with Speyer & Co. covering $4,000,000 general
lien 15-20-year 5% gold bonds. (Compare Y. 89, p. 1224,
1069, 287, 105; Y. 88, p. 1198, 54.) Associated with these
banks in this transaction are some of the strongest private
bankers in France.
Speyer & Co., having purchased from time to time $43,
000,000 of the bonds, offer a limited amount on hand at 90
and accrued interest, yielding, if held to maturity, about 6%
per annum. The bankers says in substance:
The surplus available for dividends from the operations of the year end
ing June 30 1909 was $1,328,585, an increase of $869,519 over the fiscal
year 1908. At the present time the earnings of the company are showing
steady improvement; the estimated gross earnings for the first 4 months
of this fiscal year being about $1,500,000 In excess of those of the same
period last year. The general Hen 15-20-year 5% gold bonds have now
Become a first mortgage on 897.91 miles (subject to only $489,125 existing
bonds, for the redemption of which general lien bonds are reserved). On
or before Oct. 1 1913 the mortgage securing these bonds will practically
become a first lien on an additional 628.51 miles. They are also a lien,
subject to $85,000,000 refunding or underlying bonds, on an additional
2,604.42 miles, and, further, are a lien on the stock of and leasehold Inter
ests of the company In the Kansas City Ft. Scott & Memphis Ry. and the
Kansas City Memphis & Birmingham R R ., aggregating 1,199.62 miles,
making a grand total of 5,330.49 miles. They are further secured, subject
to about $7,957,000 of serial equipment notes, on equipment costing orig
inally $18,911,907, and comprising 311 locomotives, 84 passenger and 14,051
freight and other cars, which equipment, as provided In the mortgage, the
company agrees to keep In l'epalr and replace when destroyed. Compare
V. 89, p. 105; V. 88, p. 1198.— V. 89. p. 1543. 1484.
St. Louis Southwestern R y.— Equipment Notes Offered.—
Warner & Co., 15 Wall St., New York, acting as agents for
John H. Watkins, are offering at a price to yield 4 % % ,
$722,000 of equipment gold 5% bonds, referred to in our
issue of last week, delivery to be $300,000 Jan. 1 1910,
$422,000 on or before May 1 1910.
Don A. Moulton, Lewis E. Gary, Norman J. Ford, Guy E. Summers and
William H. Botham, all of Chicago, 111. Capital stock, $97,000.— V. 89,
p. 1282.
Tonopah & Goldfield R R.— Called Bonds.— Seventy-seven
($77,000) first mortgage 6% bonds of 1906 have been called
for payment on Jan. 1 1910 at the Land Title & Trust Co.
of Philadelphia, trustee.— V. 89, p. 1277, 1142.
United Railways & Electric Co. of Baltimore.— Called
Bonds.— Three first mortgage 6% bonds of the Central R y.,
Nos. 47, 189 and 196, issued under mortgage of May 11 1882,
will be paid at par at the Safe Deposit & Trust Co. of Balti
more on Jan. 1 1910.— V. 89, p. 1543, 44.
Utah Light & Railway Co.—Bonds Called.— All of the
outstanding first mortgage 6% bonds of the Salt Lake City
R R ., some $728,000, dated 1893, have been called for re
demption on Jan. 1 1910 at the Guaranty Trust Co., New
York, trustee. First consol. 5s of 1904 will presumably be
issued in their stead.— V. 86, p. 1535.
Vandalia R R.—Bonds to be Paid.— The $500,000 outstand
ing first mortgage 6% bonds of the Terre Haute & Logansport R R. which mature on Jan. 1 1910 will be paid after
that date upon presentation to the Farmers’ Loan & Trust
Co., New York City.— V. 88, p. 939.
Wabash RR .—Favorable Decision Affirmed.— The Court
of Appeals yesterday affirmed the decision of the lower
courts, holding that the Buffalo Terminal Association has
the right to recover from tho city of Buffalo the purchase
price, $901,000, paid for the Hamburg Canal strip, together
with interest for about three years, amounting in all to about
$1,100,000. Compare V. 89, p. 920; V. 87, p. 616.— V. 89,
p. 1282, 1224.
New Trustee.— The Bankers’ Trust Co. of New York has
been made a trustee under the first terminal trust agreement
dated Jan, 1 1904, to succeed the Equitable Trust Co.,(suc
cessor by merger to Bowling Green Trust Co.), which re
signed.— V. 89 p., 1282, 1224.
Washington Potomac & Chesapeake R R .—Foreclosure.—
A special despatch to the “ Baltimore Sun” from Washington,
D. C., on Dec. 9 said:
Justice Barnard has signed a decree ordering the foreclosure of a mortgage
for $2,000,000 (under which $100,000 bonds are said to be outstanding).
The District of Columbia sale will take place Jan. 10; the Maryland sale
Jan. 11. The road was formerly known as the “ Southern Maryland,"
(V. 42, p. 754), and Its franchise authorizes It to run from Washington to
Point Lookout.— Compare V. 89, p. 1484.
Western of Georgia Ry.— Proposed Bond Issue.— The
stockholders will vote on Dec. 20 on authorizing a mortgage
to secure $500,000 bonds.
The company was Incorporated In Georgia In March 1909 with $500,000
capital stock to build a road about 60 miles In length from a point on the
Atlanta Birmingham & Atlantic at or near Aberdeen, Ga., westward via
Ncwnan and Franklin to a point on the Alabama boundary line. In June
last a contract was let to Ira L. McCord & C o . of New York to build the
line from Aberdeen to Franklin, 35 miles. President, I. N. Orr; VlcePrcs. and Gen. Mgr., M. F. Cole: Sec., W. C. Wright, Newnan, Ga.
Wilkes-Barre & Wyoming Valley TractionCo.— Proposed
Lease.— See Inter-State Railways above and Wilkes-Barre
Ry. in V. 89, p. 1544.— V. 76, p. 1302.
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Ice Co.— Found Guilty of Violating New York
Anti-Trust Laiv.— A jury in the State Supreme Court in this
city before Judge Wheeler on Dec. 10, after a trial lasting
about 9 weeks, returned a verdict of guilty against the com
pany on two counts of the indictment found in June 1908
charging violation of the State (Donnelly) Anti-Trust law.
The suit was prosecuted by the Attorney-General. Com
pare V. 87, p. 98; V. 86, p. 796, 422.
The maximum fine of $5,000 permitted under the Donnelly Act of 1899
was Imposed, the conviction, lt Is said, being the first under that law. An
appeal will be taken.
A civil suit, also brought by tho State Attorney-General, Is pending, to
restrain the company from doing business In the State on the ground of
alleged violation of the Anti-Trust and Stock Corporation laws. Counsel
for the company claim, that being a foreign corporation, organized under the
laws of New Jersoy.lt cannot be ousted from the State, but can merely be
restrained from continuing the acts found to be unlawful. Tho Appellate
Division of the Supreme Court yesterday reversed the decision of the lower
Court, which struck out from the complaint In that suit, at the request of the
company, reference to numerous contracts alleged to have been made by
the defendant In violation of law. Tho Court states lt Is of tho opinion that
they were not Irrelevant, but were germane to the Issues presented for
determination and the lower court erred In striking them out.— V. 89,
p. 1069, 995.
1599
THE CHRONICLE
Disc. 18 1909.)
Mexican Light & Power Co., Ltd., Toronto — New Stock.—
P?American Light & Traction Co.— S a l e o f Q u e b e c - J a c q u e s E le c t r i c
C o . — See Quebec
Railway, Light, Heat & The shareholders will vote Jan. 20 on approving by-laws in
creasing the capital stock by the addition of $3,600,000 of
Power Co. under “ Railroads” above.— V . 89, p. 1412, 920.
preference stock and $5,400,000 of ordinary stock, making in
American Surety Co. of New York.— E x t r a D i v i d e n d .— The all $6,000,000 pref. stock and $19,000,000 ordinary stock.
company has declared, payable Dec. 31 to holders of record
Secretary W. E. Davidson, in a circular dated Toronto,
Dec. 16, its eighty-second quarterly dividend, which includes Dec. 8, says in brief:
the regular quarterly dividend of 2 % % and an extra divi
The company has been steadily engaged In increasing the capacity of Its
dend of 2 % % upon the $2,500,000 capital stock. Par $50. liydro-electrlc plant at Necaxa from 50,000 to 100,000 li.p. and in the
development of Its distribution system In the Federal district of Mexico,
Pres., H. D. Lyman. Office, 100 B’way.— V. 66, p. 183.
El Oro and elsewhere. The larger part of the construction will be finished
during 1910. It Is necessary to provide for this large expenditure, which
American Telephone & Telegraph Co.— P r i v a t e P u r c h a s e s up to this present time has been taken care of through loans of a temporary
character llargely, it Is understood, from the Mexico Tramways Co.— Ed.],
b y J . p. M o r g a n
&
C o . — See Cuyahoga Telephone Co. below.
and the object of the Issue of this new stock Is to provide further funds
M a t u r i n g
N o t e s .—
The $25,000,000 5% 3-year gold coupon required to complete the work and to repay advances already made.
By July 1 1910 It Is expected that the company will have at Necaxa
notes maturing Jan. 1 1910 will be paid at the Old Colony
for delivery 100,000 h.p. It Is confidently believed that this
Trust Co., Ames Building, Boston, or the Manhattan Trust available
additional power can be sold at remunerative rates, increasing our net In
Co. 20 Wall Street, New York_City. See notice on another come to a very considerable extent in excess of dividend requirements.
While It Is the Intention to sell a portion of the preferred stock for present
page.— V. 89, p. 1544, 1350.
needs, later It may be decided to sell common stock, and consequently It
is desired to obtain authority at the present time so that either of these
Bigelow Carpet Co.— E x t r a D i v i d e n d . — A semi-annual stocks
may be issued at the discretion of the board.— V. 89, p. 474.
dividend of 3% and an extra dividend of 2% have been de
Montreal Light, Heat & Power Co.— Rumor.— See Shaclared on the $4,030,000 stock, payable Jan. 1 to holders of
record Dec. 15, comparing with 3% without any extra dis winigan Water & Power Co. below.— V. 89, p. 1070, 998.
New England Telephone & Telegraph Co.— Report.— For
bursement in July last and 2 % % and 1% extra in Jan. 1909
year ending June 30:
and 1908. Compare V. 85, p. 1578.
C a r t i e r
Y ea r en d .
P r e v io u s
1900. 1901. 1902.
2
5
5
— V. 85, p. 1578.
D iv id en d
1903.
5
1904.
5
R ecord
1905.
5
(P e r C e n t).
1900. 1907.
5 5
1908.
0
1909.
OH
Bristol (Tenn.) Gas & Electric Co.— S o l d . — B. L. Dulaney
and associates have sold to W. A. Williamson, 55 William
St., New York, the gas and electric-lighting properties in
Bristol, Va.-Tenn.
It Is understood that Mr. Williamson lias reorganized the properties and
will operate the gas and electric-lighting properties together, and the street
railways separately. The property of the holding company was sold last
week to the Virginia corporation and the new bond issue will therefore bo
a direct ilrst lien. Compare V. 83, p. 027.
The company was Incorporated in Virginia In March 189,» and its author
ized capital stock is 5300,000 (par $100), outstanding $275,000. The new
Issue of first mortgage bonds is limited to $550,000 5% gold bonds dated
July 1 1909 and due July 1 1939, but subject to call on any Interest date at
105
Present Issue to be $425,000. Interest J. & J. at United States
Trust Co., Washington, D. C. (the trustee), and National City Bank, N. Y.
Par $500 and $1,000. The mortgage covers the entire property and
franchises.— V. 83, p. 027.
Citizens' Ditch & Irrigation Co., San Juan County, N. M.
— B o n d s O f f e r e d . — A block of $125,000 6% serial bonds
(running 2 to 12 years), dated July 1908, but now just dis
posed of, have been bought, and are offered by Duke M.
Farson & Co., Chicago.
Crucible Steel Co. of America.— E a r n i n g s . — For the three
months ending Nov. 30:
T h ree
N et
D e p r e c .,
R es. fo r
P r c f.d iv .
B a la n c e ,
E a rn in g s.
& c .
C o m in g 's .
(1 H % ). S u r p l u s .
1909
. _______ $1,410,900 $305,904 $33,148 $300,509 $705,225
1908 1.........................
411,213
_______
8,224
_______
402.989
The total accumulated surplus on Nov. 30 1909 was $3,803,245, against
$2,095,883 on Nov. 30 1908.— V. 89, p. 1485, 922.
M o n th s.
Cuyahoga Telephone Co., Cleveland.— P u r c h a s e d b y J . P .
tfe C o . — Clarence Brown, General Counsel for the
company and attorney for James S. Brailey Jr., stated
in Toledo on Wednesday: “ I am authorized to announce
that J. P. Morgan & Co. have purchased for their own account
a majority of the stocks of the United States Long Distance
and Cuyahoga telephone companies. Further than this no
statement can be made at present.” Mr. Brailey later said:
M
o r g a n
Messrs3. Morgan & Co. bought the property for themselves as a permanent
Investment
cnt. This confirms the original statement that no Bell money was
concerned In the purchase
The United .States Co. covers Ohio and a part of Michigan, with long
distance connections In Buffalo, Pittsburgh, Indianapolis and Detroit, and
owns exchanges at Canton, Youngstown, Zanesville, Findlay, Alliance and
other places, comprising a total of 20,000 telephones. The Cuyahoga Co.
operates 25,000 telephones In Cleveland. [Large blocks of the stock of the
United States Co., ft appears, were purchased at 40 for the common and
80 for the preferred.— Ed.]
[Mr. Brailey, It Is said, admits that he has also perfected a deal for
obtaining control of the Independent plants ( i t Columbus and Dayton, O.
and lie lias arranged, It Is understood, to purchase a majority of the stock
of the New Long Distance Co., the Indianapolis Telephone Co. and the
Toledo Home Telephone Co.[
President Vail, of the American Tel. & Tel. Co., states
that these several acquisitions were not made in the interest
of his company, such acquisition being prevented by the law.
— V. 89, p. 1283, 1225.
Homestake Mining Co.— D i v i d e n d s S u s p e n d e d . — On ac
count of the labor troubles at the mines, it has been decided
to temporarily suspend dividends. In May 1907 dividends
were discontinued, owing to a fire, but were resumed at the
old rate, 50 cents a share monthly, in Jan. 1908, at which
rate they have been continued to Dec. 1909 inclusive, with
an extra distribution of 25 cents per share in Nov. 1908.—
V. 89, p. 723.
Iowa City (la.) Gas & Electric Co.— B o n d s O f f e r e d — E a r n
i n g s . — Wollcnbcrger
& Co., Chicago, are offering at 102%
and interest, netting 5 % % , $25,000 of the first mortgage 6%
serial gold bonds, which were fully described in V. 89, p.
46. A circular reports:
E a r n i n o s [ o r S i x M o n t h s e n d i n g O c t . 31 1909.
Gross earnings_____________ $48,5311Interest charges (6 months) - . $7,500
Net after taxes____________ 18,8101Balance, surplus___________ 11,310
— V. 89. p. 40.
G ross
N et
O th e r
D ed u c-
D iv id ’d s.
B a la n c e ,
R ev en u e.
R ev en u e.
In co m e.
tio n s .
(0%)
S u r p lu s .
1908-09 - _$11,031,289 $2,724,810 $200,004 $101,035 $2,194,039 $029,147
1907-08- - 10,453,984 2,388,310 230,845 301,307 1,901,808 355,980
The number of stations on June 30 1909 was 252,231, against 233,731
in 1908: underground wire, 354,015 miles, against 333,429 miles.' overhead
wire, 159,249 miles, agalsnt 150,220 miles.— V. 88, p. 1557.
J u n e SO .
Northern California Power Co., Consolidated.— Report.—
For year ending Oct. 31, comparing with earnings of the
former Northern California Power Co. for the year ending
Feb. 29 1908:
T o ta l
P e rio d C o v ered —
E a r n in g s .
Year end. Oct. 31 1909.-$433,829
Year end. Feb. 29 1908-- 300,578
— V. 87, p. 1007.
E x p en s es
C h a rg es.
&
D iv id en d s
B a la n c e ,
P a id .
S u r p lu s .
$259,202 (5 H %) SI 10,000
105,099 (0 2-3%) 40,000
$04,027
95,479
Nova Scotia Steel & Coal Co.— Plan Ratified.— The share
holders at the special meeting Dec. 15 unanimously voted to
authorize the directors to issue $1,000,000 additional com
mon stock as a stock dividend of 20% . See Y. 89, p. 1486.
Paint Creek Collieries Co. (W . V a.), Scranton, Pa.—Bonds
with Bonus.— Megargle & Co., New York, recently offered a
block of 5% bonds with a bonus of 100% in stock. On Feb.
28 1909 the company had outstanding $2,903,000 of its
$3,000,000 first mortgage 5s dated 1906 and its accumulated
surplus was $662,261. Capital stock $5,000,000. Compare
V. 85, p. 866; V. 82, p. 933.
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 1910 $188,000 of
this company’s first mortgage 5s of 1900.— V. 85, p. 1649.
Portland (Ore.) Gas Co.— Reported Negotiations.— A press
dispatch states that Eastern stockholders of the company
have made tentative arrangements for the" sale of control to
the Electric Bond & Share Co., and that a meeting of the
stockholders will be held in January to approve the sale.
The price offered for the stock is stated to be 130%. There
is about $2,000,000 of stock outstanding.— V. 88, p. 1503.
Revere Rubber Co., Boston.— Offer for Stock.— A circular
letter issued to the stockholders offers $200 per share
in cash for the stock provided a majority of the $2,000,000
issue (par $100) is deposited with the Boston Safe Deposit
& Trust Co. of Boston and the First National Bank of
New York, between the dates Dec. 20 and 24. It is supposed
the U. S. Rubber interests are the purchasers.— V. 84, p. 274.
Shawinigan Water & Power Co.— New Stock.— The re
maining $500,000 of unissued capital stock is offered for sub
scription at par ($100 a share) until noon Dec. 28 to share
holders of record on Dec. 9 1909 in the proportion of one
share for every 13 shares now held. The new shares will
be entitled to participate in all dividends following the pay
ment of the quarterly 1% on Jan. 20 1910.
Purchase.— The company has recently purchased 8700,000
stock of the Montreal Light, Heat & Power Co. using, it is
supposed, a part of the proceeds of the last bond issue.
Press dispatches state that negotiations have been begun for a merger
of the Montreal Light, Heat & Power Co., the Shawinigan Water & Power
Co. and the Montreal Street Ky. Co. Montreal authorities, however, state
on Dec. tl that whatever the future might develop they "believe any pro
posals of a merger of the Montreal and Shawinigan power companies are
premature.” — V. 88, p. 562.
Sloss-Sheffield Steel & Iron Co.— Earnings.— For the three
months ending Nov. 30:
T h ree
P r o f, fr o m
T o ta l
P r e f. d iv .
C o m . d iv .
B a la n c e .
—•
O p e r a ’n s . D e d u c .
(1 Y \ % ) .
(1 H % ). S u r p l u s .
lfl()9_-.............................. $374,036 $66,300
$117,250 $125,000 $65,486
1908___________________ 493,935 65,100
117,250
125,000 186,585
— V. 89. p. 1286, 724.
Southern California E dison Co. (successor to the E dison
Electric C o ., L os A n g e le s ). — Bonds Offered.— N. W. Harris
M o n th s
& Co., Boston and New York; Harris Trust & Savings Bank,
Chicago; E. H. Rollins & Sons, Boston, Chicago, Denver and
San Francisco; and Perry, Coffin & Burr, Boston, are offer
Lanston Monotype Machine Co., Philadelphia.— E x c h a n g e ing for sale at 97% and interest, yielding 5.17% , the unsold
o f
S t o c k . — The stockholders are requested
to present their portion of the present issue of $2,000,000 general mort.
certificates of stock (duly endorsed in blank and witnessed) gold 5s, tax-exempt in California, dated Nov. 1 1909 and due
at the office, 1231 Callowhill St., Philadelphia, on and after Nov. 1 1939, but redeemable on any interest payment date
Jan. 2 1910, when the new certificates for stock,of the par at 105 and int. Interest payable in New York, Chicago or
value of $100 each, will be ready for delivery.
Los Angeles Jan. 1 and July 1 (except that first coupon is
The present outstanding certificates, of the par value of $20 each, and due July 1 1910 and last coupon Nov. 1 1939). Par $1,000c*.
fractional scrip certificates will not be entitled to any vote: and no dividends Harris Trust & Savings Bank, Chicago, and Los Angeles
will be paid thereon after Jan. 2 unless presented at the offices to have
the amount of the dividend paid endorsed thereon.— V. 89, p. 1413, 1485. Trust & Savings Bank, Los Angeles, trustees. V. 89, p. 668.
1(500
THE CHRONICLE
Standard Coupler Co., New York.— Dividends on Common
Resumed.— The directors have declared along with the regu
lar semi-annual dividend of 4% on the $300,000 of preferred
stock a dividend of 1% on the $1,200,000 of common stock,
both payable Dec. 24 to stockholders of record Dec. 18.
This is the first dividend on the common since Dec. 1907,
when 2 % % was paid.
[VOL. LXXXIX; i
price must be paid concurrently In New York exchange to Chas. K. Llpman,
Secretary of the Guggenheim Exploration Co., 165 Broadway. New York.
A full share may be purchased where allotments result In fractions. Frac
tional shares will not be Issued.— V. 89, p. 668.
— Alierton, Greene & King is the style of the newest
Chicago bond house. It is an incorporation with abundant
capital and well equipped for business. Its offices are 427
D iv id en d R eco rd o f C o m m o n S to ck .
and 429 The Rookery. Samuel W. Alierton, the senior
1900.
1901. 1902. 1900. 1904. 1905. 1900. 1907. 1908. 1909.
1%
1 %
1%
1%
1%
3%
4%
5%
None
1%
partner, is a well-known capitalist of Chicago, one of the
— V. 86, p. 1534.
largest stockholders and a director in the First National
United Gas Improvement Co., Philadelphia.— 10% Stock Bank. Frank R. Greene was for twelve years Secretary of
Dividend— Further Facts.— The shareholders will meet Feb. 9 the Chicago City Railway Co., and later General Manager
to increase the capital stock “ from 1,009,467 shares, of the of The Chicago Railways Advertising Co. Calvin P. King
par value of $50 each, to 1,110,414 shares, of the par value was formerly Cashier of the Havana National Bank of
of $50 each” with a view to paying the 10% dividend in Havana, 111.; Newton C. King, President of the Havana
stock referred to last week. The notice says in substance:
National, and Mason B. Starring, President Northwestern
Whereas, This company has undivided profits sufficient to justify the
payment of a special dividend of 10% , payable as hereinafter provided; . . . Elevated 11R. Co., are also among the incorporators of the
Resolved, further, That If the stockholders shall consent to the proposed new bond company. The manager of the office will be
Increase of stock, It is the purpose of the board to declare a special dividend
of 10% on the capital stock, payable March 1 1910 to stockholders of record William K. Hoagland, who for four years past has been in
Alierton,
Feb. 15 1910, such dividend to be evidenced by non-Intercst-bcarlng scrip, the bond department of the Northern Trust Co.
exchangeable at Its par value for capital stock at par If presented for Greene & King announce that they will deal in carefully
exchango In lots of $50 or multiples thereof on or before June 30 1910.
Scrip presented for exchange Into stock (1) on or before March 31 1910 selected securities— municipal, corporation and public utili
to participate in the dividend usually payable in April and thereafter; (2)
ties.
It presented after .March 31 1910 and on or before June 30 1910, to partici
pate In the July dividend; (3) It not presented on or before June 30 1910,
— The Chicago bond house of John H. Sonntag & Co. has
to be redeemable only In cash at Its face value without Interest. Scrip not
to be received for exchange from April 21 to May 2 1910, when the books admitted two new partners and the firm name is changed to
Sonntag, Decker & Co. Mr. Sonntag for 15 or 20 years had
will be closed.— V. 89, p. 1546.
United States Glass Co.— Dividends Resumed.— A quar been successively in various departments with such old
terly dividend of 1% has been declared on the $3,200,000 reliable bond houses as Farson, Leach & Co., MacDonald,
stock, payable Dec. 23 to holders of record Dec. 20. This McCoy & Co., Farson, Son & Co. and McCoy & Co. A year
is the first dividend since Jan. 1908, when 1% was paid. or two since he opened an office for himself, and now asso
Compare Y. 86, p. 859; V. 85, p. 467; V. 84, p. 54; V. 83, p. ciates with his firm O. C. Decker, for 18 years connected with
the American Trust & Savings Bank of Chicago (for 13 years
822.— V. 89, p. 477.
Assistant Cashier), and I. W. Durfee, a lawyer who is identi
United States Steel Corporation.— French Syndicate Liqui fied with the promotion and financing of a number of gas
dates Holdings.— It was announced this week that the Paris and electric-light properties. The new firm expects soon
syndicate headed by Morgan, Harjes & Co., which last spring to move into larger offices in one of the best financial build
purchased a block of 100,000 shares of the company’s capital ings in Chicago.
stock and endeavored to bring about dealings in the stock
— Alex. Brown & Sons of Baltimore have issued a pamphlet
on the Paris Bourse through syndicate certificates, has been
dissolved after liquidating its holdings. Compare editorial embodying the latest revision of the rules of the Circuit
remarks, V. 88, p. 1396. M. Caillaux’s commission, which Court of Baltimore City governing the investment of trust
has been investigating the matter, has not yet completed funds. The pamphlet describes just what securities are per
its report. Herman Harjes Jr., of Morgan, Harjes & Co.,says: missible as investments for trustees and also contains a list
of those securities which have been brought to the attention
The proposition to list Steel emanated from Influential French financial
circles, which saw In the Introduction of American securities a prospect of of the Court and found to be within the provisions of the
renewing the former activity of the Paris Bourse and at the same time rule as well as those securities which, while not within its
opportunities for advantageous Investment for the French public. As
the entering wedge, they selected Steel common. Steel was then quoted general provisions, have been approved for reasons satisfac
at G4. It Is now selling at 91. In the meantime the dividend doubled.
tory to the Court. A complete list of investments fulfilling
During this Interval transactions In Steel on the New York Fxchange
wore considerably larger than those In any other stock, so that the object the requirements, prepared by White & Kemble of New
the Interested parties had In view would have apparently been more than York City, can be seen at the office of Alex. Brown & Sons.
fulfilled, and it seems regrettable that the French public did not have a
—W . E. Hutton & Co. of Cincinnati, O., have acquired
chance to participate In the profits of the transactions.— V. 89, p. 1487,
1144, 1140.
the bond department of the New York office of Isidore New
Utah Copper Co.— Consolidation.— The shareholders will man & Son, 25 Broad St. George D. Baker, formerly asso
vote Jan. 6 on increasing the capital stock from 750,000 ciated with Isidore Newman & Son, has been admitted to
shares to 2,500,000 shares for the purpose of acquiring partnership in W. E. Hutton & Co., with residence in Cin
(1) the property of the Boston Consolidated Copper Co. on cinnati. William G. Cadigan and Harold F. Greene, here
the basis of one share of Utah for 2 y2 shares of Boston and tofore associated with I. Newman & Son, will have charge
(2) such shares of the Nevada Consolidated as accept the of W. E. Hutton & Co.’s bond department in New York.
offer within a specified time, but not less than a majority, W. E. Hutton, member of the New York Stock Exchange,
on the basis of one share of Utah for 2)4 shares of Nevada is the resident partner in the New York office.
Consolidated stock. It is thought that the deal involves a
— R. II. Goodell & Co., Chicago brokers in special securi
promise on the part of the Utah Company to increase the ties (such as American Gas & Electric, Commonwealth
dividend rate, now 50 cents per share quarterly.
Power, Cumberland Telephone & Telegraph, Detroit Edison,
A portion of the additional stock Is to be Issued to present Utah Copper Michigan State Telephone, National Cash Register, Rocky
stockholders and depositing Nevada stockholders (within a limited time)
for corporato purposes, and to enlarge the present capacity of the Utah Mountain, Bell Telephone, Topeka, Edison and railway
Copper Co.’s plants from 8,000 tons dally capacity to 12,000 tons; and to companies, &c., &c.) have removed to larger offices in the
increase the capacity of the Hostou Co.’s plant at Garfield to approximately
5.000 tons daily, thus bringing the total capacity of all plants In Utah to First National Bank Building to better accommodate their
17.000 tons per day, which will result In a production of 140,000,000 to growing business. Their new suite number is 122. See
150.000. 000 lbs. per annum, which, with Nevada Consolidated Co.'s output, advertisement.
will give a total production in excess of 200,000,000 lbs. per annum.
— The recently organized banking and investment firm of
Samuel Untermyer on Dec. 12 said:
There Is no basis for the report that the proposed purchase by the Utah Bigelow & Co. will commence business in their new offices on
Copper Co. of the property of the Doston Consolidated Copper Co., or Its the fourth floor of the Atlantic Mutual Building, 49 Wall St.,
reported merger with the Nevada Copper Co. Is part of a general merger on Monday next.
As mentioned in these columns last week,
of copper properties. It has no relation to any such plan, If there be such
a plan. The Utah and Nevada are both known as Guggenheim properties, Mr. Bigelow was formerly identified with the bond house
an 1 It Is natural that they should be put together. Although It is expected of Megargel & Co.
that the annual copper production of the enlarged company will be about
200.000. 000 lbs., that represents less than 15% of the domestic production.
— William A. Read & Co., bankers, are offering on another
(Compare Amalgamated Copper Co. In V. 89, p. 1412, 1544).— V. 88, p. page a choice list of well-known investment securities,
1125.
several issues of which are exempt from taxation in New
Westinghouse Air Brake Co.— Extra Dividend.— The com York and Philadelphia. The advertisement shows in each
pany has declared, along with the regular quarterly dividend instance the price and yield. Full particulars will bo sent
of 2*^%, an extra dividend of \ lA % and a special dividend upon application.
of 1% on its $14,000,000 of capital stock. The dividends
— For the requirements of taxpayers who have to meet the
are payable Jan. 10 to stockholders of record Dec. 31. (Com
payment of their taxes on Jan. 10, A. M. Kidder & Go., 18
pare V. 89, p. 724.)
New Treasurer.— R. F. Emery, Assistant Treasurer, has Wall .St., offer a list of “ tax-exempt” railroad stocks, which
been elected Treasurer to succeed the late John Caldwell. are guaranteed. The particulars appear in to-day’s adver
tisement elsewhere in the “ Chronicle.”
— V. 89, p. 1015, 925.
— E. H. Rollins & Sons announce the opening of Now York
Yukon Gold Co., New York.— Option to Subscribe.— The
directors on Nov. 30, in order to reduce the indebtedness offices at 43 Exchange Place in the Wall Street Exchange
of the company to the Guggenheim Exploration Co., amount Building. Its other offices are located in Boston, San
ing to $2,322,000, incurred for advances for construction and Francisco, Los Angeles, Denver, Chicago, Baltimore and
equipment purposes, decided to sell to that company the Philadelphia.
— R. H. Goodell A Co., Chicago, moved this week to
297,900 shares of the stock of the Yukon Gold Co. which
are now held in the treasury available for sale, at par ($5 per larger quarters at 122 Monroe St. Attention is called to a
share), subject to the privilege of the Yukon stockholders to list of miscellaneous corporations in the securities of which
the firm specialize— buying or selling.
purchase the aforesaid shares at par as follows:
Stockholders of record Jan. 15 1910 to have the privilege of purchasing,
— The full text of the Treasury Department's regulations
at $5 per share, one share of stock for every 10 shares held by them respec relating to the Federal Corporation Tax Law may be had
tively, such privilege to be exercised by residents in the United States or!*
froe on application to the Corporation Trust Oo., 37 Wall St.
to Feb. I 11U0. and by non-residents prior to Feb. 15 1910. The p*roh«w
D ec . 18 11m .
THE CHRONICLE
1601
fp p jftd s a n d
NATIONAL RAILROAD COMPANY OF MEXICO.
FIR ST A N N U A L R E P O R T — FO R T H E FISC AL Y E A R E N D IN G JU N E 30 1909.
N ew Y o rk O ffice:
N o. 25 B ro a d S treet.
M e x ico O ffice:
„„„
IV nn era C alle d c V erga ra , 209.
To the Stockholders:
. .
The Board of Directors, complying with the provisions ot
Article 48 of the By-Laws, begs to submit for your considera
tion the following report of the Company's business during
the fiscal year from the 1st of July 1908 to the 30th of
June 1909.
E X E C U T IO N A N D F U L F IL L M E N T OF T H E F IN A N
C IAL A G R E E M E N T OF T H E 29T H OF F E B R U A R Y 1908.
During the past fiscal year we have continued faithfully to
carry out the financial agreement executed on the 29th of
February 1908 with the Bankers who had charge of the
financial reorganization of the Companies whose merging
resulted in the incorporation of the Ferrocarrilos Nacionales
de Mexico (National Railways of Mexico), and the holders
of the shares and bonds of those Companies have continued
exchanging them for the securities of this Company, in ac
cordance with the terms of that agreement, and with the
result shown in the table which follows:
Statement of Securities Deposited up to the ‘30th of June 1909,
in accordance with the plan of the 0th of April 1908.
S E C U R IT IE S O F T H U M E X IC A N C E N T R A L R A I L W A Y CO. L IM IT E D
D ep osited .
Total Issu e.
1 0 % N o t e s ------5 % P r lo r lty B d s
F irst M tg e. lid s.
C on s. M tg e.B d s.
First I n c . B onds
R e g .I n c . B on ds
S econ d In o .B d s .
S h a r e s _________
T o ta l
$500
0 ,5 0 7 ,0 0 0
204,002
i o n , 0 2 0 , ooo
3 2 ,7 0 0 ,0 0 0
3 2 5 ,2 0 0
I t , 284 ,000
5 0 ,1 2 7 ,1 0 0
00
00
50
oo
00
00
00
00
$ 5 ,1 7 7 ,0 0 0
212 ,9 7 7
1 05 ,341 ,00 0
3 1 ,6 2 9 ,6 0 0
3 0 7 ,0 0 0
11,1 6 6 ,0 0 0
5 8 ,9 7 2 ,3 0 0
66
50
00
00
00
00
00
-------- $21 0 ,3 2 3 ,8 0 2 50 $ 2 1 2 ,8 0 5 ,8 7 7 50
P er
C e n t.
P er
C ent.
Out
standing.
0.00
78.48
80 .6 5
06.62
06.71
04.40
98.05
09.74
$500 100 00
1.420.000 21.52
51,085 10.35
3.38
3 .6 7 9 .0 0 0
3.29
1,070,400
5.60
18,200
1.05
1 18,000
0.20
154,800
97.03 $ 0,517,085
2.07
S E C U R IT IE S O F T H E N A T IO N A L R A IL R O A D CO . O F M E X IC O .
P referred S tock
2d P r e f. S to c k .
C om m on S t o c k .
D eferred S t o c k .
T o t a l ________
$ 3 2 ,0 0 0 ,0 0 0
2 2 ,0 4 3 ,6 0 0
284,000
11,0 2 1 ,8 0 0
00
00
00
00
$0 5 ,3 5 0 ,0 0 0 00
$ 3 1 ,0 7 3 ,6 0 0
2 1 ,0 8 1 ,0 0 0
112,700
11,0 2 1 ,8 0 0
P er
C ent.
00 99.02:
00 09.72
00 39.60!
00 lOO.OOj
$20,400
61,700
171,000
________
0.08
0.28
60.40
0.00
99.00;
$260,000
0.40
$ 6 5 ,0 0 0 ,0 0 0 00
T O T A L N U M B E R O F S E C U R IT IE S O F B O T H
Issu ed .
O ut
standing.
P er
C ent.
D ep osited .
Total Issu e.
D ep osited .
B on d s & Shares $ 2 8 4 ,0 7 3 ,8 6 2 50 $ 2 7 7 ,8 0 5 ,8 7 7 50
P er
C ent.
C O M P A N IE S .
O ut
standing.
07.62 $6,7 7 7 ,0 8 5
P er
C ent.
2.38
All the above amounts are in United States currency.
This summary will enable you to appreciate the small
amount of securities issued by the Mexican Central Railway
Company L td ., and the National Railroad Company of Mex
ico, which on the 30th of June last had not yet been pre
sented for conversion under the plan published on the 6th of
April 1908. Applications for conversion have continued to
,come in even after that date; and this fact as well as the
results obtained and also that no opposition or protest has
been presented against the conditions of the exchange or
conversion, as set forth in the said plan of the 6th of April
1908, must be considered highly satisfactory, and as forming
a proof of the justice of the bases which animated the plan
in question.
The faithful and prompt execution, above referred to, of
the agreement of the 29th of February 1908 has enabled the
Company not only to comply punctually with all the obligationsassumed by it, among others the redemption of thegold
notes for §10,000,000 United States currency, issued by the
National Railroad Company of Mexico, which were out
standing on the 1st of July 1908, but also to pay off the
floating debt and certain equipment notes issued by the
Mexican Central Railway Company L td ., which have, ma
tured. The Company has likewise obtained all the funds
necessary for redeeming in advance of their maturity date
the balance of $33,000,000 United States currency, of 5 per
cent four-year gold notes of the Mexican Central Railway
Company L td., and if this redemption has not been entirely
completed, it lias been on account of the necessity, in ac
cordance with the covenants of the respective trust deeds,
of giving certain previous notice, which was done in due
course, the corresponding funds being at the same time de
posited with the Trustee.
As is well known to the stockholders, the payment of these
debts was assumed by this Company, and only certain un
matured notes and equipment bonds of the Mexican Central
Railway Company Ltd. are now outstanding. The amount
of these obligations on the 30th of June last is shown in the
liabilities of the general balance sheet for the past year.
T R A N S F E R TO T H E C O M P A N Y OF T H E O W N E R S H IP
OF T H E L IN E S A N D P R O P E R T IE S OF T H E N A
T IO N A L R A IL R O A D C O M PAN Y OF M E XIC O
A N D M E X IC A N C E N T R A L R A IL W A Y
C O M P A N Y L IM IT E D .
In view of the large amount of shares and bonds of the
National Railroad Company of Mexico, and Mexican
Central Railway Company Ltd. which the holders de
posited for exchange in accordance with the plan of the 6th
of April 1908, it was considered advisable at the end of that
year to execute with these companies the necessary inden
tures of transfer of the ownership of their railroads and other
properties of every character; the Ferrocarriles Nacionales de
Mexico (National Railways of Mexico) binding itself to
assume all of their liabilities and to deposit in the hands of
a trustee a sufficient amount of its own bonds and shares for
the conversion, in accordance with the provisions of abovementioned plan, of the shares and bonds of the two compa
nies that had not as yet been presented by the holders
thereof.
The said indentures approved by the Mexican Govern
ment, and by the stockholders at general meetings of each
of the companies, were duly protocolized and registered in
the City of Mexico, and are at the disposal of the stock
holders who may desire to refer to them for details.
Under these indentures the Ferrocarriles Nacionales de
Mexico (National Railways of Mexico) took possession of the
lines and properties of the National Railroad Company of
Mexico, including the lines of the Hidalgo & Northeastern
Railroad Company L td ., on the 1st of January 1909, and a
month later, on the 1st of February, of the lines and proper
ties of the Mexican Central Railway Company Ltd. From
said dates the operation of these lines has been carried on by
the Ferrocarriles Nacionales dc Mexico (National Railways
of Mexico); the results of operation from the 1st of July 1908,
however, also passing to this Company, as provided under
the respective indentures.
The acquisition and transfer of the lines and properties
of the Mexican International Railroad Company, which have
always been considered as the last step towards the consum
mation of the work of consolidating the lines which are to
form the basis of the system operated by the Ferrocarriles
Nacionales de Mexico (National Railways of Mexico), could
not be carried out without acquiring a large block of stock
in that Company held by the Southern Pacific Company, and
the realization of this end has required all the best efforts
of the Board of Directors. These efforts have been crowned
with success, as the stock referred to is now the property of
the Ferrocarriles Nacionales de Mexico (National Railways
of Mexico), and steps are now being taken to comply with the
requisites necessary to give legal form to the transfer of the
lines and properties of the Mexican International Railroad
Company, and their incorporation in the system of the Ferro
carriles Nacionales de Mexico (National Railways of Mexico).
The agreement covering the acquisition of the shares above
mentioned was executed on the 30th day of June 1909, and
same is at the disposal of any stockholder who may desire to
examine it.
AM E N D M E N TS TO T H E B Y -L A W S .
In order to facilitate the listing and delivery of the shares
of this Company on the New York Stock Exchange, and by
advice of the Company's Counsel, it was found necessary to
amend Articles 8, 11 and 12 of the original By-Laws, so as to
waive the deposit of bearer shares and the closing of the
Stock Register of nominative shares, in order that the stock
holders could attend the general meetings. For this pur
pose a Special General Meeting of Stockholders was held in
the City of Mexico on the 10th of March 1909, at which the
proposed amendments were adopted, and same having been
submitted to the Treasury Department, as required by
Article 20 of the Decree of the 6th of July 1907, they were
approved and duly published in the “ Diario Official” of the
Mexican Government.
B O A R D OF D IR E C TO R S.
The initial period of the existence of the Company having
expired, in accordance with the provisions of Clause 14 of
the Articles of Incorporation, the first Board of Directors of
the Ferrocarriles Nacionales de Mexico (National Railways
of Mexico), created by said deed and composed of seven
persons, decided to increase the number of Directors to
twenty-one, divided into three groups of seven Directors
each, to hold office respectively until the Annual General
Meetings to be held in the years 1910, 1911 and 1912; nine
of said Directors resident abroad to form the Local Board in
New York, as required under the By-Laws.
In accordance with these provisions, and with the approval
of the Treasury Department, the following gentlemen w e r e
designated to constitute these groups:
THE CHRONICLE
Ki03
F IR S T G R O U P .
'
M r. L u is E lg u c r o ,
M r. J o se S ig n o r e t,
“
R ic h a r d
H oney.
“ E rn st T h a lm a n n ,
“
W m . H N ich ols ,
“ Jam es N . W a lla ce ,
M r. M anuel d e Z a m a c o n a e In c la n .
SECOND G R O U P .
M r. E d w a rd N . B r o w n ,
M r. J o se Y v e s L lm a n to u r ,
“ J o a q u in D . C asasus,
“ P a b lo M a ced o,
“ G u illerm o d e L a n d a y E s c a n d o n ,
“ G abriel M a n ce ra ,
M r. Jam es S p e y e r.
T H IR D G R O U P.
M r. S am u el M . F e lto n ,
M r. H e n ry C lay P ie rce ,
“
J u lio M .
L lm a n to u r,
“ C lay A r th u r P ie rce ,
“
B r a d le y
W . P a lm e r,
“ H e n r y S . P rie st,
M r. E b e n R ich a rd s .
The Board of Directors in Mexico being composed of the
following gentlemen:
M r.
“
“
“
“
"
E d w a rd N . B r o w n ,
J oa q u in D . Casasus,
L u is E lg u ero,
S am uel M . F e lto n ,
R ic h a r d H o n e y ,
G u illerm o de L a n d a y E s c a n d o n ,
M r.
“
“
“
“
“
J ose Y v e s L lm a n to u r,
J u lio M . L lm a n to u r,
P a b lo M a c e d o ,
G abriel M ancera,
J ose S ign oret,
M anuel d e Z a m a c o n a e In c la n .
And the Local Board of Directors in New York of the
following gentlemen:
-
M r. W m . H . N ic h o ls ,
M r. H e n ry S. P riest,
“ B r a d le y W . P a lm er,
“ E b en R ich a rd s ,
“ C lay A r th u r P ie r c e ,
“ Jam es S p e y e r,
” H e n r y C lay P ie r c e ,
“ E rn st T h a lm a n n ,
M r. Jam es N . W a lla ce .
These appointments having been made, the members of
the Boards proceeded to install themselves simultaneously
in Mexico City and New York City on the 5th of February
1909 and elected Mr. Jose Y . Liinantour, Chairman, and Mr.
Pablo Macedo, Vice-Chairman of the Board of Directors,
and Mr. Henry Clay Pierce Chairman of the Local Board in
New York.
By reason of his holding the office of Secretary of the
Treasury and Public Credit, Mr. Jose Yves Liinantour
asked to be excused from discharging the duties of Chairman
of the Board of Directors of the Company, and his colleagues,
although with great regret, could do no less than agree that
he should not perform the duties of such office as long as he
remained at the head of the Treasury Department, his place
in the meantime being filled by Mr. Pablo Macedo.
Subsequently, and by reason of the resignation of Mr.
James Speyer, who found it necessary to go to Europe, the
Board of Directors appointed Mr. Hans Wintcrfeldt to take
his place. In accordance with Article 26 of the By-Laws
this gentleman will vacate his office at the Annual General
Meeting of stockholders, to which this report will be pre
sented, and it will then be necessary to elect some person
who will finally take the place of Mr. Speyer, until the holding
of the Annual General Meeting in 1911.
M A N A G E M E N T OF T H E L IN E S — R ESU LTS OF OP
E R A T I O N -B A L A N C E S H E E T A N D ACCOUNTS
F O R T H E FISC AL Y E A R .
The results of the operation of the lines which have been
under the direct management of the Company during the
period from the 1st of July 1908 to the 30th of June 1909 are
shown in the accounts which, as required by the By-Laws
and approved by Messrs. Price, Waterhouse & Co., chartered
accountants, were in due course submitted to the “ Comisarios” and will be submitted by them to the General Meet
ing together with their report.
Furthermore, Mr. E . N . Brown, President, has rendered
to the Board of Directors the report and enclosures presented
herewith, by reference to which the stockholders will find all
the details regarding the present state and condition of their
properties.
The Board of Directors therefore confines itself to stating
that the results of the operation have been entirely satis
factory, especially if we take into consideration two circum
stances: first, the general business depression which has been
felt throughout the Republic during the past year by reason
of the financial crisis, which, as is natural, has considerably
diminished the gross earnings from the operation of the lines;
and, second, the fact that the economies which should result
from the merging of the lines could not be actually realized
except within the short period of the last five months of the
fiscal year now under review, inasmuch as the properties of
the Mexican Central Railway Company Ltd. were not taken
over by the Ferrocarriles Nacionales de Mexico (National
Railways of Mexico) until the 1st of February 1909.
D AM AG ES S U F F E R E D B Y T H E L IN E S.
Before closing the present report, the Board of Directors
considers it proper to make some reference to the damages
which were lately suffered by the Company’s lines, caused by
the heavy rainfall over the frontier region in the vicinity of
Monterey, and although said damages were not sustained
during the fiscal year covered by this report, they constitute
a serious and important fact which should not be overlooked.
The exceptional violence of the rains in the territory re
ferred to destroyed many sections of the Company's lines,
entirely carrying away whole kilometers of grading, together
with rails and ties, as well as destroying several important
bridges. As would be expected, the Board at once proceeded
to give preferred attention to the work of repairing the lines,
but up to the present moment the traffic, although re
established in the country near Monterey, is still interrupted
between Monterey and Matamoros," and several weeks will
elapse before it can be fully resumed, thus naturally causing
a reduction in the amount of the gross revenues of the lines.
The officers of the Company are actively engaged in making
the necessary repairs and are sparing no efforts to mini
mize the consequences of these serious damages, due to un
[VOL. L X X X IX .
avoidable causes, so that the result of operation during the
present fiscal year may be affected as little as possible.
The foregoing comprise the most important matters oc
curring during the past fiscal year, and which the Board of
Directors has considered necessary to embody in this report,
but the Board will be pleased to inform the stockholders of
the Company who may desire any further information of all
the other acts which have been executed, and with that
object I have the honor to place at their disposal the book
containing the minutes of the Board Meetings, and in which
they will find a record of the resolutions adopted with regard
to the business under its management.
PAB LO M A CE D O ,
Vice-Chairman of the Board.
Mexico, 4th October 1909.
REPORT OF PRE SID EN T.
Mexico, D. F ., September 28 1909.
Lie. Pablo Macedo, Vice-Chairman of the Board:
Dear Sir: I beg to submit to your Board of Directors
report of operations of the property for the fiscal year end
ing June 30 1909.
In the following statements, accounts, &c., the twelve
months, July 1908 to June 1909, have been considered in all
cases, although the actual physical transfer of the properties
did not take place until, the following dates: Hidalgo &
Northeastern Railroad Co. Limited, Dec. 31 1908; National
Railroad Company of Mexico, January 1 1909; Mexican
Central Railway Co. Limited, February 1 1909. The re
sults of the separate operation of the above-mentioned
properties for the time prior to their having been merged
with your Company have, for obvious reasons, been consoli
dated as the operation of one property for the fiscal year
July 1 1908 to June 30 1909.
R ESU LTS OF O P E R A T IO N .
The following condensed statement of Income Account
shows the results for the year:
M e x ic a n C u rren cy.
T h e G ross E arnings fro m all so u rce s w e re ____________________ $4 8 ,8 0 5 ,5 2 2 26
T h e to ta l E xpen ses o f O p e ra tio n w e re ________________________ 29,1 6 0 ,8 0 3 33
L e a v in g N e t E arnings o f ________________________________________$ 1 0 ,6 3 8 ,6 2 8 93
T o w h ich a d d :
1,092,371 24
In te re st o n S ecurities o w n e d __________________________________
O th er R e c e ip t s __________________________________________________
293,723 20
M a k i n g .........................- ............................ ........................- ..................... - $ 2 1 ,0 2 4 ,7 2 3 37
F ro m w h ich d e d u ct—
T a x e s a n d R e n ta ls _____________ ______ ___________ $ 3 3 5,98 5 53
O p era tin g D eficits o f S u b sid ia ry C om pa n ies
(M e x ica n -A m e rica n S team sh ip C o . an d T e x a s
M exica n R a ilw a y C o .) -------------------------------------------22,834 41
A d ju s tm e n ts o f O p e ra tin g E x p en ses o f an d
Claim s m ad e o n C on stitu en t C o m p a n ie s_____ 1 ,082,416 51
R ese rv e fo r A c c r u e d D e p re cia tio n o f E q u ip m e n t 1,3 4 0 ,4 0 0 00
--------------------2 ,7 8 1 ,6 3 6 45
$1 8 ,2 4 3 ,0 8 0 92
And:
In te re st o n F u n d e d D e b t an d E q u ip m e n t an d C ollateral
T ru sts, & c ____________________________________________________ 16 ,9 75,943 88
L e a v in g B a lan ce carried to P r o fit a n d L oss A c c o u n t ------------------ $ 1 ,2 6 7 ,1 4 3 04
A n d d e d u ctin g :
F iv e p er ce n t o f N e t P rofits tra n sferred to
R eserve F u n d ______________________________________ $63 ,3 5 7 15
G u aran teed D iv id e n d o n P re fe rre d S t o c k , tw o
p er c e n t _____________________________________________ 1 ,153,316 00
--------------------1 ,216,673 15
L e a v in g as N e t Surplus fo r th e y e a r e n d in g Ju n e 30 1 9 0 9 -_
$50 ,469 89
M IL E A G E .
The actual mileage in operation of the consolidated linen
at June 30 1909 was as follows:
M A IN L I N E A N D B R A N C H E S
Standard Gauge—
.
K ilo m eters.
S an tiago to ce n te r o f R io G rande
B r i d g e . . - ............................................. --1 ,2 9 0 .6 8 4
C olon la to J u n ctio n w ith M ain L in e
at S a n tia g o _________________________
4.7 6 4
CIntura L ine— S an tiago to Sati L a za ro
5.089
C o n n e ctio n a t G onzales J u n c t io n ------0.0 5 4
G onzales to A c a m b a ro — ..............
8 5 .2 0 6
80.0 6 7
San Juan J u n ctio n to Jaral del V a lle .
C o n n e ctio n w ith " Y ” a t S a la m a n c a .
0.0 3 0
M atehuala B ran ch , Inclu din g P o tr e r o
.„
B r a n ch ..........................
65.212
San Luis de la P a z B r a n ch --------------M atam oros B r a n c h ___________________ 3 3 1 .0 7 8
CIntura E x te n sio n — San L a za ro to
X lc o : b ra n ch to fa c to r ie s ___________
.>.183
Jarlta B ra n ch _________________________
3 0 .8 0 0
M ain L in e— M exico to C iuda d Ju a rez 1 ,970.340
T a m p ic o to M o n te re y a n d G o m e z
P a la c lo ....................................................
882 .1 0 0
C h lcalote to T a m p i c o ________________ 653.488
G u ad alajara to M a n za n illo___________ 356 .052
Ira p u a to to A m e c a _________________
349 .0 0 0
T o rre o n to S a ltillo ______________
307 .694
M e x ico to B a lsas_____________________
292.480
JIm ln ez to R o s a rio ____________________ 153 .895
L e ch e rla to A p u l c o ___________________ 141 200
Y u re cu a ro to L os R e y e s _____________
138.248
P a re d o n to S a ltillo.....................................
73.763
T u la to P a c h u c a _____ , ________________
7 0 .2 0 0
L a V ega to San M a r c o s _______________
4 7 .0 0 0
San B a rto lo to R io V e r d e __________
4 2 .356
T ep e n a ca sco t o H o n e y _______________
3 5 .1 6 2
O co tla n to A t o t o n llc o ________________
3 4 .922
SUao to G u a n a ju a to ___________________
23.600
M e xico U n ion R y .— R in c o n d e R a m o s
to C ob re (L eased L in e )____________
1 7 .^ 7 °
T elles to P a ch u c a _____________________
B rlttln gh am to D ln a m lta ____________
10.240
T a m p ic o to L a B a rra _________________
1 0 .0 0 0
CIntura R y . o f th e C ity o f M e x ic o —
9,572
A d ria n to S an ta B a rb a ra ____________
8,363
San Luis P o to s l to H a cie n d a d e B en iU c l o _______ _______ __________________ _
8-350
K ilo . 1228 to S ulphu r M in e_________
5,245
S a n tia go B ran ch — M e x ico to the Cus
to m s H o u s e ...............................................
1.030
T o t a l, S tan d ard G a u g e .................... ..................... 7,618.091
M ile s .
801 .9 9 9
2.9 6 0 '
3-102
0.0 3 4
o 2 .9 4 j
49.752
0.581
.. . . .
40.521
205.724
__
3.221
19.138
1,2 2 4 .3 2 0
548.115
406.061
221 .242
216.860
191.193
0o.6 2 6
87.738
8a 904
-15.834
43.620
29-205
,.6.319
21.849
21.700
14.664
10.607
10.410
6.363
6.214
5.948
5.197
0.188
3.2 5 9
1-100
4,733.691
P ercen tageM a in te n a n ce o f W a y an d S tr u c tu r e s ------------------------------------------------------- 22.54
M a in te n a n ce o f E q u ip m e n t ______________________________________________ 21.23
C o n d u c tin g T r a n s p o r t a t io n ______________________________________________ s O .b i
G eneral E x p e n s e s
____________________________________________________
b -b3
M ile s .
K ilom eters.
N arrow Gauge—
T a cu b a J u n ction to U ru ap an an d E x
tension to P a ck in g H ou se “ P o p o ” . 512.926
M Ich oacan & P a cific H allw ay (L e a se d
91.917
L i n e ) ________________________________
91-917
P era lv lllo to B cra s ta ln _______________ 164.200
28.200
28.200
San A g u stln to I r o lo _________________
26.500
2 0 .o 00
V e n to q u lp a to T o r tu g a a _____ ______ 25.900
T e p a t o P a ch u c a _____________________
J
o .a o o
3 18 .719
57.115
102.030
17.523
16.466
16.094
1 00 .00
The percentages to Gross Earnings being:
849.643
527 .9 4 7
________ 8 ,4 6 7 .7 3 4
S5 ,261.638
______
ND Y A R D S .
O n M ain L ine b e tw e e n L a re d o a n d[
M e x ico , Inclu din g M ex ico C ity l e i 3 1 1 .8 0 5
m ln a ls ..................................- ................
.9 1
O n B ran ch L i n e s ---------------------------- --.
a5B8.u
io5
O n M ain Line betw een LI P a so an d
M exico and on Bran ch es o£ th e o ld
M exica n Central H a llw a y --------------- 700 .8 9 6
H id a lgo D iv i s io n .......... - .........................._ _ 30.231
_ _ _
435 .519
1 8 .785
684 .660
G ra n d T o t a l---------- --------------------------------------------9 ,569.581
5 ,946.298
M ile s ,
Standard Gauge.
161.853
M ile s ,
N arrow G auge.
2.349
K ilo m ete r s ,
Standard G auge.
T ex a s M exica n R a il w a y ........... ............ 260 .475
K ilo m ete r s ,
N arrow G auge.
T u la n cln g o T r a m w a y ------------------------3.781
R elin a s— D a ca u v llle:
T o L os R e y e s _____________
9.650
T o S a lin a s _________________
6.054
-----------15.704
9.758
A V E R A G E L E N G T H O F L IN E O P E R A T E D .
W E IG H T O F R A IL S .
The following table shows the weight of rails in the main
line, branches and sidings at June 30 1909:
5 0 -lb .
4 5 -lb .
“
“
V a riou s
S I D IN G S A N D
6 0 -lb .
5 6 -lb .
“ ........................................................
__________________ --
5 4 -lb . “ ___ ___________ _______________
5 0 -lb . “ .......... .......................... ...................
4 0 -lb .
3 0 -lb .
“
_______ ____________________
“ .......................................................
YARDS.
6.533
.785
28.318
64.490
4.952
.086
7.544
617 .225
18.168
5.797
1,326
110.717
222.764
13,142
4.059
.488
17.596
40.073
3.077
.053
4.688
383.528
11.289
3.602
0.824
68.797
138.420
8.166
T o t a l, Sidings a n d Y a r d s ____________________ 1,1 0 1 .8 4 7
684 .660
G rand T o t a l ............................................................... 9,569.581
5,9 4 6 .2 9 8
GROSS E A R N IN G S .
The total Gross Earnings from all sources were $48,805,
522 2G, Mexican currency, details of which are given in the
following table, as well as the percentages of the various
sources of revenue to the total:
C om m ercia l F reigh t
E a rn in g s.
Percentage
..................................... .................. ? 3 4 '? o 5 '5 Z 5 S')
7 1 ,S?
l ,1 7 o ,7 0 9 14
3 .8
•” 5
.08
.28
.02
2 .4 0
$ 48 ,805 ,52 2 26
100.00
U S E S I ::::::::::::::::::::::::::::::::::
T e le g ra p h
!»
................................................... ..................................
Rentals ..................................................................................
F lo a tin g E q u ip m e n t_________________ ______
M iscellaneous .....................................
- .........................
The following table shows the percentage of each class of
commercial freight to the total during the year:
P ercentage.
F orest P r o d u c ts ..............
10.04
A g ricu ltu ra l P r o d u c t s ------------------------------------- -----------------------------------—
23.43
L iv e S tock an d A n im a l P r o d u c t s _________ _ _____________ __________ _
3.41
M i n e r a l P r o d u c t s -------------------------------------------------------52.41
G eneral M erch a n d ise--------------10.71
In view of the period of general trade depression which has
been experienced in Mexico, as elsewhere, the low prices of
metals, and the partial failure of crops in certain districts,
the earnings of your properties can only be considered as
very satisfactory.
O P E R A T IN G E X P E N S E S .
The maintenance of the property has received careful at
tention, and efforts have been exerted in every direction to
keep it in good physical condition. The consolidation of
the lines has made it possible to effect certain economies with
respect to the operation of the merged lines, and the results
in this direction are highly satisfactory and serve to demon
strate the possibilities for the future. The cost of operating
the property for the fiscal year was 59.76 per cent.
The comparative percentages of the sub-accounts are as
follows:
N e t E a rn in g s---------------------------- ------------------------------------------$19 638 ,6 2 8 93
W h ic h , re d u ce d to g o ld a t the a v e ra g e p rice o f th e M e xi
can d o lla r fo r th e y e a r , v iz ., 50 c e n ts , e q u a ls ............. ..
9 ,819,314 47
59.76
O p eratin g p e r c e n ta g e ................. ........................... ..........................K ilo m e te rs run b y re ve n u e tra in s------------------------------------16 ,914,927
$2 8853
G ross E arnings p e r r e v e n u e train k ilo m e te r .
..................
1 7243
O p e ra tin g E x p en ses p e r reven u e train k ilo m e te r ------------1 1610
N et E arn ings p er r e v e n u e train k ilo m e te r —
----------------5,801 81
G ross E arnings p er k ilo m e te r o f road o p e r a te d --------------3 ,4 6 7 25
O p e ra tin g E xpenses p er k ilo m e te r o f road o p e r a t e d ------2,334 56
N et E arn ings p er k ilo m e te r o f road o p e r a te d
. ...............
6 12627
A v e ra g e a m o u n t r e c e iv e d fo r each toil o i fre ig h t ------------0 01766
A v e ra g e re ce ip ts p er to n per k ilo m e te r ----------------------------1 65477
A v e ra g e a m o u n t re ce iv e d fro m e a ch p a s s e n g e r -------------0 01790
A v e ra g e re ce ip ts p e r passenger p e r k ilo m e te r ------------------M iles ru n b y re ve n u e tra in s ------------ -----------------------------------G ross E arnings p er r e v e n u e tra m m i l e . . . . ...........................
O p eratin g E xpen ses p er re ve n u e train m ile ----------------------N et earnings p er re ve n u e train m ile ---------------------------------G ross E arnings p er m ile o f road o p e r a t e d . . .........................
O p e ra tin g E x p en ses p er m ile o f road o p e r a t e d ....................
N et E arn ings p e r m ile o f road o p e r a te d ...........................
A v e ra g e a m o u n t r e c e iv e d fo r e a ch to n o f fr e ig h t ------------A v e ra g e re ce ip ts p e r to n p er m ile --------------------------------------A v e ra g e a m o u n t re c e iv e d fro m ea ch p a s s e n g e r --------------A v e ra g e re ceip ts p er passenger p er m ile ---------------------------
5,2 6 1 .6 3 8
T o t a l, M ain L in e a n d B ra n ch e s ........................ 8 ,4 6 7 .7 3 4
STATEMENTS OF OPERATION.
The statements of accounts prepared by the General Audi
tor, and included in this report, show in detail the results for
the year, as well as the financial condition of the property.
The books and accounts have been audited by Messrs.
Price, Waterhouse & Co. of London, New York and Mexico,
and a copy of their certificate as to the correctness thereof
accompanies this report.
The results of operation for the year are as follows:
Expressed in miles the figures show as follows:
M A IN L I N E A N D B R A N C H E S .
M ile s .
K ilo m eters.
............... ..
247.616
153.862
....................
48.420
30.087
. . _________ 1,634.520
1 ,015.650
____________ 1,556.198
966 .982
_____ ______
282 .980
175.837
259 .995
____________ 4 18 .419
1,908.986
____________
3
,0
7
2
.1
9
7
................................
18.934
____________
30.471
3.221
____________
5.183
1.650
____________
2.656
________ ______
379 .547
_________________ . . ....... ......... 610.818
330.936
____________
532.586
15.951
25.670
cla sses----------------- ____________
8 5 -lb . r a il........................................................
P ercen ta g e.
M ain ten an ce o f W a y an d S t r u c t u r e s ------------------------------------------------------- 72 .4 7
M ain ten an ce o f E q u ip m e n t ______________________________________________ 12.09
C o n d u ctin g T r a n s p o r t a t io n ______________________________________________ ‘-•j.bo
G eneral E x p e n s e s _______________________________________________________ 3 .0 o
M e x ic a n S ilver.
G ross E a rn in g s---------------------------------------------------------------------- $ 4 8 ,8 0 5 ,5 2 2 26
O p e ra tin g E x p e n s e s -------------------------------------------------------------- 29,1 6 6 ,8 9 3 33
The average length of line operated during the year was
8,412.108 kilometers, or 5,227.074 miles.
“
•
59.76
193.748
36.608
T o t a l, Sidings an d Y a r d s ---------------------------------1,101.847
56-iii!
1603
THE CHRONICLE
D ec . 18 1909.]
510 ,428
$4
2
1
9,3 3 7
5,580
3 .7 5 7
6
6435
7750
8685
13
01
12
12627
02841
1 65477
02881
ADDITIONS AND BETTERMENTS.
From the Balance Sheet it will be noted that the amount
standing to the debit of Additions, Betterments and Improve
ments at June 30 1909 was $1,779,501 52 Mexican currency.
Of this amount $264,874 96 were expended during the year
on equipment, and the balance, or $1,514,626 56, on extraor
dinary work of a capital nature. In the above charge to
equipment there is included the cost of one Mallet compound
locomotive, conversion of engines from coal to oil burning,
cost of equipping certain special cars with axle-lighting de
vice and sundry adjustments on charges relating to freight
equipment.
,
, „
...
The following statement gives details of the expenditures
referred to above:
_
. .
E xp en d ed
J u ly 1 1908 to
J u n e 30 190 9.
A d d itio n a l E q u ip m e n t:
L o c o m o tiv e s .......... ..............- ........................................ 51 .
P a ssen ger C a r s ................................................................
3 ,7 6 9
58.071
F reigh t C a rs...................... ................................................
W r e c k in g C r a n e s .................................. - ........................ 2 0 >021
75
lb
02
°g
$264,874 96
B a ll a s t ------ -- ------------------------------------------B rid ges, T restles an d C u l v e r t s .. .........................................................
C h anges in L i n e ............................
C oa ling .Stations
- ...................................................
D o ck s an d W h a r v e s ------------------------------------------------------F re igh t Y a rd s and F a cilitie s .................................................................
M iscella neous S tru ctu res
O il S ta tio n s _____________
P ln ts ch G as P l a n t ---------------------------------------------------------------R e la y in g w ith H e a v ie r R a il............... ................................................r R ig h t o f W a y .......... - - - - - .........................................................................
........ .............................................
S ta tio n B u ildin gs a n d F ix tu r e s .
S h o p s, R o u n d h o u s e s a n d T u r n t a b le s ----------------------------------------S id e and P a ssing T r a c k s --------------------------------------------------------------S h o p M ach in ery an d T o o ls -------------S eco n d T r a c k (M o n te re y to M a tam oros J u n ctio n ).
S u rv e y s _______________________________________________
T e le g r a p h L in e ---------------------- ------------------------------------T im b e r an d T ie T r e a tin g P la n t -------------------------------T r a c k S c a l e s __________________________________________
T u n n e l s -------------------------------- --------------------------------------W a te r S ta tio n s ------------------------------------------------------------
ia n '^ 7 9 i i
\\
44
3 1 ,809 25
„s „„„
3 8 ,,? 5
430 56
14,984 60
931 93
. . . an(, RR
i2 !6 8 7 85
or.
2 9 ,? i a uo
j>7,Z8o 40
r o 'o r 2 %%
50,0 6 5 77
8,428 17
3,5 8 4 24
3,364 13
20,838 49
2,386 68
2,434 95
61,981 27
$ 1 ,6 7 1 ,7 7 5 74
C o lo m b ia B r a n c h ----------------------------------------------------G u a n a ju a to E x te n sio n . . .
-------. . . - - - P u rch a se o f P ro p e rty a t T a m p ic o fro m A g e n d a
C om erclal - - - - - - ......................................... ...................
T a m p ic o S h ort L in e .............................................................
52
69.313 as
3 4 3 4
800 00
107 ,725 78
.$ 1 ,7 7 9 ,5 0 1 52
T o t a l.
BALLAST.
During the year the following quantities of ballast have
been placed in the track, viz.:
1
L in ea l M e te r s .
On m ain line b e tw e e n M e xico and N ew L a r e d o .......................................
2,914
O n m ain line b e tw e e n M e xico an d C. J u a r e z --------------------------------------- o S ’ f o ,
G u a d a la ja ra D iv isio n — -------- ---------------------------------------------------------------M on te re y D iv is io n —
- - - --------------------------------------------------------------------C ardenas D iv is io n ------------------------------------------------------------------------------------, ’5 .5
C u ern avaca D i s t r i c t ----------------------------------------------------------------- --------- —
P a n u c o D is t r ic t -------------------------------------- -------------------------------------------------1 ,&8b
T o ta l
______________________________ ______ ___________ ___________ _____129.564
B R ID G E S , T R E S T L E S A N D C U L V E R T S .
The following permanent bridges were built during the
fiscal year:
1604
THE CHRONICLE
O n M a i n L i n e B etw ee n M e x i c o a n d N e w L a r e d o .
.
SA N L U IS D IV IS IO N .
Two pairs of 5 meters, 181 millimeters, deck steel plate
girders, on masonry abutments and piers, at La Pila;
Bridge 509-A.
One pair of 5 meters, 181 millimeters, deck steel plate
girders, on masonry abutments, north of La Pila: Bridge
510-A .
. One pair of 5 meters, 181 millimeters, deck steel plate
girders under each track, main line and sidings at La Pila,
on masonry abutments; Bridge 510-C.
Three sets of 7 meters, 1G5 millimeters, deck steel plate
girders, on masonry abutments and piers, between Dolores
Hidalgo and Rincon; Bridge 389-A.
N O R T H E R N D IV IS IO N .
Two pairs of 5 meters, 181 millimeters, deck steel plate
girders, on masonry abutments and piers, between Stevenson
and Palo Blanco; Bridge 1,088-A.
On
M a in
L in e
B etw ee n
M e x ic o
and
C iu d a d
Juarez.
C H IH U A H U A D IV IS IO N .
One 83 meters, 858 millimeters, clear single track through
truss steel span over Chubiscar River; Bridge 1,609-C.
Six 43 meters, 891 millimeters, single track through steel
truss spans over the Concho River (Santa Rosalia); Bridge
1,450-A .
R E L A Y IN G W IT H H E A V IE R R A IL .
The following sections of track were laid with heavier rail
during the year, viz.:
QUERETAREO
D IV IS IO N .
From kilometers 9G to 123.389 there were 2 7 .389’Jkilo
meters of new 85-lb. rail laid in place of 70-lb. rail taken into
stock.
S A N L U I S D I V I S I O N — M A T EH U A L A B R A N C H .
From kilometers G-1G.200 to G -34.700, or 18 }/2 kilometers
of 40-lb. and 45.1b. rail were taken up and relaid with 70-lb.
rail.
G U A D A L A J A R A D IV I S I O N .
From kilometers Iv-140.709 to K -146, Zapotlan Branch,
5.291 kilometers of 75-lb. rail were laid in place of 56-lb. rail.
M O N T E R E Y T E R M IN A L S .
There were 2.032 kilometers of 70-lb. rail laid in place of
54-Ib. and 56-lb. rail, and .320 kilometers of 45-lb. rail in
substitution of 40-lb. rail.
[V O L . L X X X I X .
N E W SID E A N D PASSING T R A C K S .
During the year new side tracks, passing tracks, cross
overs and extensions to existing side tracks were built to the
extent of some 20.640 kilometers on main lines and branches
throughout the system. Of these new tracks, 19.827 kilo
meters are of standard gauge, and the balance, or .813 kilo
meters, of narrow gauge.
IN G E N E R A L .
S T A T E M E N T S O F E Q U IP M E N T .
Your attention is invited to the statements showing the
various classes of locomotives and cars on hand at June 30
1909 and which accompany this report.
r
M A T A M O R O S— B R O W N S V IL L E B R ID G E .
Towards the end of the fiscal year now under review,
arrangements were made for the construction of a new
International Bridge across the Rio Bravo between Matainoros, on the south of the river, and Brownsville, Texas, on
the north side. This bridge will be owned jointly by your
company and the St. Louis Brownsville & Mexico R y . Co.,
and will afford your lines an additional railway connection
at the Border.
ST A TE M E N TS OF ACCOU NTS.
Attached hereto you will please find letter from our Gen
eral Auditor, dated September 29 1909, together with the
ten statements of accounts as listed therein.
D IV ID E N D .
As has been shown in the first part of this report, after
taking care of the interest on Funded Debt and Equipment
and Collateral Trusts, &c., there was a balance of $1,267 ,
143 04 Mexican Currency carried to Profit and Loss Account,
out of which an amount of $63,357 15 was transferred to
Reserve Fund, as per terms of the Articles of Incorporation
of the Company, and the sum of $1,153,316 00 used in paying
the Guaranteed Dividend of two per cent on the Preferred
Stock.
Accompanying this report will be found a list of the
directors and general officers of your company for the fiscal
year ending June 30 1909.
Respectfully submitted,
E . N . B R O W N , P r e sid e n t.
[F °r Balance Sheets. Income Account and Traffic Statistics sec pre
ceding pages under “ Annual Reports.”]
MEXICAN INTERNATIONAL RAILROAD COMPANY.
ANNUAL
REPORT
FO R T H E
FISC AL
YEAR
E N D IN G
JUN E
30
1909.
N e w Y o r k , O cto b e r 13 1909.
The President and Board of Directors submit herewith
their report of the Company’s transactions for the year end
ing June 30 1909.
For details of the Receipts and Expenses see following
statement:
I. MILES OF R O AD O W N E D A N D L E A S E D .
The following statement shows the miles of road owned
and operated at June 30 1909:
— $08 ,104 13
— 1,2 2 3 ,5 8 7 89
— 3 0 ,589 15
M a in L in e , Ciudad P orflrio D iaz t o D u ran go
“
“
R ea ta to M o n te r e y ________________
B ran ch es, S abinas to H o n d o _____ ______ _______
“
S abinas to R o 3 lt a ____________________
"
M o n c lo v a to C u atro C ie n e g a s ______
“
Ilo rn o s t o San P e d r o _______________
“
P ed riccn a to V e la r d e n a _____________
“
M a tam oros to T la h u a lllo ___________
H oriz on te to B e r m ljlllo ____________
“
D u ran go to T e p e h u a n e s _______ _____
“
C oahulla C oal R a ilw a y (le a s e d )___
M ile s .
K ilom eters.
540.292
869 .510
72.316
1 16.380
19.700
12.297
12.720
20.470
42.530
68.445
14.348
23,000
5.822
9.370
70.000
43.496
14.000
22.530
134.947
217 .175
39.190
24.352
T o ta l _____ ____________________________________
S idin gs - _________________________________________
917.120
104.335
T a ta l m iles o f t r a c k __________________________
1,081.4 55
1,4 7 5 .9 5 0
264.470
1,740.420
The average number of kilometers of road operated during
the year was 1,477.46 (91S.06 miles), as compared with the
average of 1,477.66 (918.20 miles) for the previous year, a
decrease of .20 kilometers (.14 miles). The difference in the
detailed mileage given in the above statement on the main
line and most of the branches, as well as the small net de
crease in the total, as compared with the mileage given in last
year’s report, is brought about by a re-measurement of the
lines, with the foregoing result.
II. REC EIPTS A N D E X P E N S E S .
T h e gross earnings fro m all sou rces fo r th e y e a r w ere $3,9 5 3 ,2 8 4 49 M ex C y
T h e to ta l expen ses o f o p e r a t i o n ____________ ______ 4 ,1 3 0 ,7 4 5 95
“
T h e n et ea rn in g s---------------------------------------------------------- $ 2 ,8 2 2 ,5 3 8 54
“
E q u iv a le n t In U n ited S tates C u rren cy . . . _________ 1,411,209 27 U . S. C y
A d d in g th ereto in terest c o lle c te d o n cu rren t a c c o u n ts
705 48
“
’
Y ea r K u d in a
Y ear E n d in g
J u n e SO 1909. J u n e 30 1908.
M e x ic a n C u rren cy—
Passen gers and e x p r e s s _____ $ 1 ,0 2 2 ,2 4 8 87 $ 1,090,353 00
F r e i g h t ..........................
. 5 ,829,100 23
7,052,751 12
A ll o th e r s o u rce s .
..
101,809 39
138,153 54
T o ta l r e c e ip t s _____________ $6,9 5 3 ,2 8 4 49 $ 8 ,2 8 1 ,5 6 5 66 — $1,328,281 17
M ain ten an ce o f w a y and s tr u c
tures -------------------$90 9,06 2
. 967,177
M ain ten an ce o f e q u ip m e n t
C on d u ctin g tra n sp o rta tio n __ 1,874,484
G eneral e x p e n s e s ......................
296,751
67 $ 1 ,102,073 60
85
1,131,426 51
79
2,0 8 4 ,0 7 0 06
72
320,631 20
— $28 3,01 0
— 164,248
— 8 0 9 ,5 8 5
— 23,879
93
09
27
48
T o ta l w ork in g e x p e n s e s ...$ 4 ,0 4 7 ,4 7 7 03 $5,328,201 40 — $ 1 ,2 8 0 ,7 2 4 37
R e ce ip ts o v e r w orking' e x
penses .................
.............. $ 2 ,9 0 5 ,8 0 7 46 $ 2,953,364 20
In c o m e fro m I n v e s t m e n t s .. . . . . _________
1,472 00
T o t a l...................................... ..$ 2 ,9 0 5 ,8 0 7 46 $2,9 5 4 ,8 3 6 26
— $47 ,556 80
— 1,472 00
— $49 ,028 80
$21,181 88
20,000 00
$34 ,090 91
20,000 00
— $13 ,509 03
26,099 92
233,683 82
— 207 ,583 90
3,611 12
10.000 00
34,873 53
— 3 1 ,202 41
+ 10,000 00
$323,248 26
— $ 2 3 9,97 9 34
N et R evenu e, M e x ic a n C urrcncu _________ ______ _____ $ 2 ,822,538 54 $ 2 ,031,588 00
+ $ 1 9 0,95 0 54
V . S . C u rren cy — ■
A v e ra g e price realized fo r the
silv e r d o lla r ____ _____
50 cts.
50 cts.
A m o u n t o f net r e v e n u e .1. . . $ 1 ,411,269 27 $ 1,315,794 00
In te re st co lle c te d o n o p e n acc o u n t s _______________
3,322 82
705 48
+ $ 95 ,475 27
$1,4 1 1 ,9 7 4 75 $1,319,1 16 82
+ $92,857 93
S tam p s an d o th e r ta x e s , .
_
R e n ta l C oahulla Coal R a ilw a y
D u ties paid on im p o rte d C om p a n y m aterial In excess o f
th e k llo m e tric a llow an ce _
In te re s t, d isco u n t an d e xch an ge _ _ ____________
F o rfe itu re
of
B ran ch
Line
+ 2,376 00
2,376 00
T o t a l _____________ __________
G ives the total n et rev en u e o f ____ __________________ $ 1 ,4 1 1 ,9 7 4 75
The interest on the funded debt and on the income bonds
remains the same as last year, namely, $731,470 00, with a
further amount of $13,890 00, representing interest paid on a
loan of $420,000 from subsidiary companies, making a total
of $745,360 00.
From the above it will be seen that there was an excess
from Income Account of $666,614 75 United States Currency
over the fixed charges for the year.
In the report for last year reference was made to duties
paid to the Government on imported Company material in
excess of the kilomctric allowance, covering a period of some
fifteen years, and from the statement which follows it will be
seen that there has been a charge of $26,099 92 Mexican Cur
rency for importations during the fiscal year under review.
Increase ( + ) .
D ecrease (— ) .
D educt—
In te re st on b o n d e d d e b t ____
O ne y e a r's interest at fo u r per
ce n t on Incom e b o n d s to
Jun e 30 1908
In terest o n loans
A d d itio n s , be tte rm e n ts an d
new e q u ip m e n t- .
M e z o u lte B ran ch , net d e b it
w ritten o l f . .
$83 ,268 92
$ 5 5 1,51 0 00
$ 5 5 1 ,510 00
170,960 00
13.S90 00
179,900 00
23,100 00
$74 5 ,3 6 0 00
$754,570 00
— 89,210 00
$66 6,61 4 75
$564,540 82
+ $10 2,06 7 93
$87,221 51
$917,422 48
— $83 0,20 0 97
$91 7,42 2 48
— $798,813 8U
$35 2,87 5 63
$548,006 07
— $ 9 ,210 0*
+ 3 1 ,3 8 7 17
3 1 ,387 17
$11 8,60 8 68
D e ficit _______
Surplus ________
— 2 ,6 1 7 34
+ .$900,881 73
THE CHRONICLE
D e c . 18 190!). 3
Your attention is invited to Tables 8 and 10 for details of
passenger and freight traffic.
The freight traffic operations for the fiscal year show a
decrease of 148,051 metric tons in the volume of freight
handled, or 9.30 per cent, as compared with the previous
year, and a decrease in receipts from this source of $1,223 ,
587 89 Mexican Currency, or 17.35 per cent. The average
number of kilometers each ton of freight was hauled shows a
decrease of 3.18 per cent.
It may bo of intex-est to note from the following brief
statement that with one exception there was a decrease in
tonnage in each of the five general sub-divisions in classifi
cation of freight traffic, viz.:
In crea se.
(T on s.)
F o r e s t P r o d u c t s ------------------------------------A g r i c u l t u r a l P r o d u c t s --------- - - - -
L iv e S to c k a n d A n im a l P r o d u c ts
M i n e r a l P r o d u c t s ------------------------------G e n e r a l M e r c h a n d i s e ---------------------------
N et d e c r e a s e _____________ ______ _________________________
7,397
______
D ecrease.
( T o n s ).
25,935
2,202
103,957
23,954
148,651
The diminished movement of forest products is largely
accounted for by same conditions as mentioned in the last
annual report, namely, decreased importations of lumber; at
the same time there was no activity in the development of
native industries.
During the year under review the corn and cotton crops
were materially reduced on account of light rains and an
early frost, the result being a much lighter movement of
these commodities.
T h e r e la t iv e ly sm a ll in c r e a se in to n n a g e o f a g r icu ltu r a l
p r o d u c t s , a s s h o w n a b o v e , is n o t a n in d ic a t io n o f im p r o v e
m e n t in th is cla ss o f fr e ig h t; th e in c r e a se b e in g d u e c h ie fly to
c o m m o d it ie s o f th is n a tu r e h a v in g b e e n b r o u g h t in fr o m
o t h e r d is tr ic ts .
Mineral products suffered a heavy decrease in tonnage,
chiefly in ores, due largely to the low price of metals which
prevailed throughout the year. The movement of native
coal and coke shows a slight increase, notwithstanding the
fact that the readjustment of fuel rates, mention of which
was made in the last annual report, did not become effective
soon enough to make any perceptible difference in the ton
nage. The readjusted rates went into effect June 1 1909,
and indications are that the results will be an increased
tonnage of native coal and coke handled.
The decrease in tonnage of general merchandise may be
accepted as an indication of the adverse financial conditions
and general depression which have existed in Mexico, as else
where, throughout the year. It is evident that the demand
for supplies of this character has only been such as to meet
the most urgent necessities. Generally speaking, the com
modities coming under this heading bring in the highest reve
nue returns per ton, consequently the decreased tonnage has
affected the revenue more adversely than the loss in any
other branch of the traffic.
The decrease in passenger earnings consists wholly of
second-class travel, there having been an increase of 3.67 per
cent in first-class travel, as compared with the previous year.
This falling off of earnings in thesecond-class is attributed to
the period of general depression through which we have
passed, and the consequent results it has had throughout the
mining sections of Northern Mexico, causing the reduction of
labor at many points where the mines were not entirely
closed down pending renewed activity in this industry.
The express receipts show a falling off of $24,031 24, which
is largely accounted for by reasons quoted above.
Table No. 7 gives in detail the working expenses of your
property. The percentage of working expenses to gross re
ceipts was 58.21, as against 64.34 during the same period of
the preceding year, viz.:
1 9 0 7-1 908.
1908-1900
14.40 ________ _____ M aintenance o f W a y an d S tr u c tu r e s __________ 13.07
13.66 . . . . . ___M aintenance o f E q u ip m e n t ............
. .. 1 3 , 9 1
3 2 . 4 1 . - - . ______
C on d u ctin g T r a n s p o r t a t io n ______ ______
26.96
3 . 8 7 - - , ___________G eneral E x p e n s e s ------------------------4.27
64.34
58.21
As will be seen from the foregoing, Maintenance Expenses
absorbed 26.98 per cent, and Operation 31.23 per cent, of
the gross earnings.
The percentage of total expenses of the sub-accounts is
shown in the following statements:
1907-1008.
1908-1909.
22.37 ------------ M a in te n a n c e o f W a y an d S t r u c t u r e s ._____
,22 .4 6
2 1 .2 4 ............................M aintenance o f E q u ip m e n t_______ _____________ 23.90
50.37 _____________ C o n d u ctin g T r a n s p o r t a t io n ..
.
.46.31
0 . 0 2 - . ................. -.G e n e r a l E x p e n s e s ________________________________ 7.33
100.00
100.00
The decrease in expenses is due to the same reasons as
given in the annual report for last year, namely, general im
provements in the physical condition of the property and
heavier cars and engines of greater capacity. Your attention
is invited to Table No. 8, from which will be noted the con
siderable increases in average tons per train and average tons
per loaded cars.
For details of operations of the Transportation Department
see Tables Nos. 8 and 9.
The results for the year, as well as the financial condition
of the property, are shown in the statements of accounts pre
pared by the General Auditor, and which are included in this
report.
The books and accounts, as in previous years, have been
audited by Messrs. Price, Waterhouse & Company, of Lon
1605
don, New York and Mexico, whose certificate as to correct
ness thereof is incorporated in this report.
III.
A D D IT IO N S , B E T T E R M E N T S A N D
IM P R O V E M E N T S .
Table No. 6 of this report gives the various expenditures
for new equipment and for additions, betterments and im
provements during the year, the total amount thereof being
$222,420 76 Mexican Currency, from which there has been
deducted, however, several credits as shown on statement No.
6, and which amount to $47,977 73 Mexican Currency, leav
ing a net expenditure for these accounts of $174,443 03 Mexi
can Currency.
During the year steel bridges of some magnitude have been
built at Fuente, on the Monclova Division, and near San
Carlos, on the Torreon Division, as well as some small, perma
nent bridges to replace temporai'y structures at various
points along the line.
During the year some 30.635 kilometers of track have been
laid with 75-lb. rail in substitution of rail of lighter weights.
In the last report reference was made to the necessity for
additional shop buildings and tools at various points, and an
amount of $43,502 21 Mexican Currency was expended in
these directions during the year.
For details of these amounts expended on these works refei’ence is made to Table N o. 6, which forms part of this
report.
IV . C A P IT A L .
In the accounts for the year the amount of $1,165 05
United States Currency has been charged to “ Cost of Railroad
Properties,” and represents the completion of cost of the
Purisima Line.
The expenditures for additional equipment and for addi
tions, betterments and improvements during the year,
amounting to $87,221 51 United States Currency, have been
charged to “ Profit and Loss.”
It will also be noted from Table No. 4 that an amount of
$31,387 17 United States Currency has been charged to
“ Profit and Loss,” representing the net debit written off on
account of the Mezquitc Branch, which has been abandoned.
By reference to Table No. 2 it will be seen that the amount of
$41,543 27 was deducted from “ Cost of Raih'oad Properties”
as the cost of the Mezquite Branch; the difference between
said amount and the $31,387 17 United States Cui’rency
charged to “ Profit and Loss,” l’epresenting salvage on ma
terial, &c., taken out of the abandoned line.
Out of the surplus earnings for the year ending June 30
1908 four per cent interest on the Income Bonds, or $179,
960 00 United States Currency, was duly paid in September
1908 to the holders of these bonds.
V. FU N D ED D EBT.
There have been no changes in the Funded Debt of your
Company during the present year.
V I. G E N E R A L R E M A R K S .
The propci’ty has been maintained in good condition during
the year and equal to all traffic requirements in every respect.
The rainfall throughout the sections touched by your line,
during the last rainy season, has been heavier than that of
similar periods for some years past, and has enabled farmers
to plant corn on a larger scale, which, at the present time,
promises an exceptionally large yield. The abundance of
water in the cotton districts would seem to insure a good crop
of this staple for the coming year.
The average kilometers operated, gross earnings, average
earnings per kilometer, and average earnings per mile, for the
years 1884 to 1905, inclusive, for the six months January to
June 1906 and for the fiscal years ending June 30 1907, 1908
and 1909, are shown in the following table:
A v erage
K tlom eters
Operated.
Y e a r 1 9 0 8 -0 9 ____ -_ 1 .4 7 7 .4 6
Y e a r 19 0 7 -0 8 ____ .1 ,4 7 7 .6 6
Y e a r 1906-07 __ . .1 ,4 7 3 .0 6
6 M on th s, 1906
1,436.83
Year—
1905
.-1 ,4 2 1 .9 3
1904
-.1 ,4 1 6 .4 4
1.415.93
1903 . . .
1902 _
1901
-1 ,3 6 4 .4 2
1900 ...... , - . , _ . _ l.2 8 9 .p 2
1899 _____________ .1 ,1 8 5 .5 3
1,060.60
1898 ............ ......... ..
1897 ____
- - - - - .1 ,0 6 0 .6 0
-1 ,0 1 1 .0 2
1896
1895 ______________ . . 947.23
1894 ______________ . . 922 .19
1893 ______________ . . 922.19
1892 _________
- - - 746.37
1 8 9 1 ______________ . . 658.30
1890 ______________ ... 637.38
1889 ______________ . . 636.34
1888 ______ ______ ._ 573.97
1887 . . . . . .
- . - 273.58
1886
_________ .. . - 273.58
1885 _______ _ . . 273.58
1884 ___________ _ - . - 245.20
G ross E a rn in g s.
(M ex ica n
d iir r e n c n ).
$ 6 ,953,284 49
8 ,2 8 1 ,5 6 5 66
8 ,5 7 2 ,7 7 0 13
4 .0 3 7 ,5 3 2 82
6,5 1 9 ,1 6 1
6,891 ,196
7 ,0 9 1 ,8 2 7
6,496,161
5 ,9 6 0 ,8 2 4
5,3 7 8 ,9 7 7
4 ,6 4 5 ,5 5 9
3 ,4 9 7 ,0 7 3
3 ,0 3 4 ,1 2 0
2 ,9 0 0 ,9 2 5
2,6 6 4 ,1 2 6
2,169,131
2 ,050,934
2 ,095,726
1 ,197,856
1 ,126,366
911,098
656,781
237,394
185,150
153,916
103,307
41
88
24
58
06
33
29
97
04
33
08
47
01
14
55
41
51
41
13
25
18
98
A v erage
E a rn ings
P e r K ilo m .
54,706 24
5,604 51
5,819 70
2,810 03
4,5 8 4
4,8 6 5
5,008
4,048
4,368
4,1 7 0
3,918
3,2 9 7
2,860
2,869
2,812
2,352
2,226
2,807
1,819
1 ,745
1,43 2
1 ,144
867
670
562
421
73
15
60
61
76
01
55
26
76
30
54
14
15
89
69
64
73
28
73
76
59
49
A verage
E a rn in g s
P e r M ile .
57,569 60
9,019 35
9,365 72
4,522 17
7,378
7,8 2 9
8,0 6 0
7,481
7 ,0 3 0
0,7 1 0
0,441
5,306
4,603
4,6 1 7
4 ,5 2 6
3 ,7 8 5
3 ,5 7 9
4,5 1 8
2,924
2,839
2,305
1,841
1,396
1,098
905
612
20
57
36
04
60
88
91
31
86
69
28
29
04
67
02
77
64
47
43
11
39
37
At June 30 1909 there were 2.630 employees in the service
of your Company, of which 380, or 14.4.5 per cent, were
foreigners; this is a decrease of 960 in the total number of em
ployees, and a decrease of 210 foi'eigners, as compared with
the same date last year.
By order of the Board,
E . N . B R O W N , P re sid en t.
[For Balance Sheet, Income Account and Traffic Statistics sec preceding
pages under "Annual Reports."]
THE CHRONICLE
1606
G Pxim m jem ai [T im e s.
....( f o M M E R C I A L
E
pI t
OM
T "
F r i d a y N i g h t , D e c . 17 1909.
Trade continues to expand along conservative lines.
Bank clearings and railroad earnings by their increases over
recent years make this very apparent. Credits are evidently
stronger. Holiday trade in some directions is said to be
unusually large, notably in the dry goods business. The
feeling is generally hopeful, notwithstanding that prices of
merchandise as a rule high. Foreign trade continues large.
L A R D on the spot has ruled strong, though without
marked change in prices. Trade has been quiet but on the
other hand hog prices have been strong, and although the
receipts of hogs increased for a time, the movement has
latterly again fallen to small proportions. Offerings of pro
duct have been light. Prime Western 13.85c., Middle West
ern 13.85c. and city steam 1 3 3 ^ @ 1 3 % c . Refined lard has
been strong, with a larger trade. Continent 14.20c., South
America l5 c . and Brazil in kegs 16c. The speculation in
lard futures at the West has been active. Prices advanced,
owing to the continued strength of the live hog situation.
D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S
S a t.
M on.
T u es.
W ed.
J a n u a ry d e l iv e r y ..............12.85
13.05
12.02 y2 12.82 'A
M ay d e l i v e r y . . ..................11.90
12.05
11.95
1 1 .9 2 }$
J u ly d e liv e r y ...................... 11.80
12.00
1 1 .8 7 }$ 11.85
e
IN CHICAGO.
T h urs.
F r i.
1 3 .0 2 }$ 12.95
12.10
12.15
12.05
12.10
P O R K on the spot has been strong. Dulness of trade has
been offset by the strength of live hogs and small offerings
of product. Mess $25 5 0 @ $ 2 6 , clear $ 2 5 @ $ 2 7 50 and fam
ily $27. Beef has been firm, with a good trade. Mess $11 50
@ $ 1 2 25, packet $ 1 3 @ $ 1 3 50, family $ 1 5 @ $ 1 5 50 and ex
tra India mess $21 50 @ $ 2 2 50. Cut meats have been firm
and in good demand. Pickled hams, regular, light to heavy,
1 2 % @ 1 3 ^ c . ; pickled bellies, clear, 1 3 > ^ @ 1 4 ^ c ., and pick
led ribs, light to heavy, 1 3 @ 1 3 K c . Tallow has been dull
and steady at Gj^c. for city. Stearines have advanced, with
trade quiet and supplies small; oleo 18c. and lard 1 3 ^ @ 1 3 ^ c .
Butter has been quiet but higher; creamery extras 34 @
343^c. Cheese has been quiet and firm; State, f. c., Sept.,
fancy, 17c. Eggs quiet and firmer; Western firsts 31 @ 3 2 c .
O IL .— Linseed has been stronger. Trade has been quiet
but supplies are light and railroad labor troubles at the
Northwest have interfered with the movement. City, raw,
American seed, 6 6 @ 6 7 c .; boiled, 6 6 @ 6 7 c ., and Calcutta,
raw, 75c. Cottonseed has been active at an advance;
winter 7 .5 0 @ 7 .9 9 c ., summer white 7 .5 0 @ 7 .9 9 c . Lard has
been firm with a good inquiry and supplies light; prime
$1 10, No. 1 extra 6 5 @ 6 8 c . Cocoanut has been quiet and
firm; Cochin 9J ^ @ 1 0 c .; Ceylon 8 % @ 9 c .
Olive has been
dull and steady at 8 0 c .@ $ 1 25. Peanut has been quiet
and steady; yellow 6 2 @ 6 7 c . Cod dull but firm. Domestic
3 8 @ 4 0 c .; Newfoundland 4 2 @ 4 4 c .
C O FFEE on the spot has been quiet and firm. Rio. No. 7
8 ^ @ 8 ^ g C ., Santos No. 4 8 ^ @ 8 % c .
West India growths
have been firm with a quiet jobbing trade. Fair to good Cucuta 9 ^ @ 1 0 c . The speculation in future contracts has
been more active and prices have ruled firm, though the
fluctuations from day to day have been narrow. The ten
dency has on the whole been upward, however, owing mainly
to firmness in the European markets and buying for foreign
account. Closing prices were as follows :
D e c e m b e r _______ 6 .6 5 c.
J a n u a r y .__________ 6 .7 0 c .
F e b r u a r y _________6 .7 5 c .
M a r c h _____________6 .8 0 c.
A p r i l ______________ 6 .8 5 c.
M ay ______________ 6 .9 5 c.
J u n e ______________ 6 .9 5 c .
J u l y ______________ 7 .0 0 c .
A u g u s t ___________ 7 .0 0 c .
S e p t e m b e r _______ 7 .0 5 c .
O c t o b e r __________ 7 .0 5 c .
N o v e m b e r ................7 .0 5 c .
C O T T O N .
F r i d a y N i g h t , D e c e m b e r 17 1909.
T H E M O VEM EN T OF T H E CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
204,324 bales, against 190,910 bales last week and 216,389
bales the previous week, making the total receipts since
Sept. 1 1909 4,689,983 bales, against 5,635,647 bales
for the same period of 1908, showing a decrease since
Sept. 1 1909 of 945,664 bales.______________
‘______________
S a t.
M on.
T u es.
G a lv e sto n _____
F o rt A r t h u r ____
C orp. Christ!, & c.
N ew O rle a n s -G u l f p o r t ________
M obile _________
F e n s a c o la _______
J a ck s o n v ille , & c.
S a v a n n a h _ ____
13runs w ick _ .
C h a r le s t o n ___ __
G e o r g e t o w n ____
W i lm i n g t o n ____
N o rfo lk ........ .. . N e w p ’ t N ew s, &c
N ew Y o r k _______
B o s t o n _____
B a ltim o re _ .
.
P h il a d e l p h i a ___
R eceipts at—
12,878
11,105
22,366
—
—
T o ta ls this w e e k .
29,636
29,723
W ed .
7,683
F r i.
Total.
10,083
12,136
984
12,574
____
1,599
76,251
____
984
39,583
____
7,5 3 5
____
2,236
27,743
13,687
5,317
52
9,472
17,401
1,047
Th urs.
6,562
4,271
9,266
2,037
953
2,290
____
958
4,6 2 0
890
4,673
l ,338
3,089
6,228
6,756
3,096
339
52
1,402
3,006
____
____
60
__
—
490
____
635
3,220
____
____
____
—
549
____
1,8 53
2,942
____
____
2
____
—
43,672
22,032
24,243
904
1,468
1,365
2,319
____
2,312
4,003
100
45
1,098
__
898
3,901
13,687
1,567
____
1,905
1,011
1,047
____
41
2,768
—
248
2,768
—
55,018 204,324
The following shows the week’s total receipts, the total
since Sept. 1 1909, and the stocks to-night, compared with
last year:
1909.
R eceipts to
D ecem ber 17.
This
W eek .
G a lv e s to n ________
C orp . C h rlstl, A c .
N ew O r le a n s ____
M o b i l e ___________
J a ck s o n v ille , A c .
S a v a n n a h ________
B r u n s w ic k ......... C h a r le s t o n _______
G e o rg e to w n ____
W ilm in g to n ____
N o r fo lk ___________
N e w p o rt News,<Scc
N ew Y o r k _______
B o s t o n ___________
B a ltim o re ________
P h ila d e lp h ia ____
T o t a l.-
1908.
S in ce S ep
1 1909.
T h is
W eek .
StO
S in ce S ep
1 1908.
76,251 1,635,583 141,587 2 ,186,388
36,511
61,600
25,197
984
23 [547
39,583
635,087 84,636 1,037,185
7,981
7,535
155,181 15,022
227,466
78,959 16,034
67,214
2,236
26,178
1,491
20,161
27,743 1,056,823 52,563 1,014,001
13,687
186,679 36,0 5 0
180,736
5,317
6,809
174,923
141,970
52
684
117
949
9,472
255,721
9,491
276 ,059
349,391
341 ,355 31,576
17,401
8,742
75
2,581
1,047
7,695
2,818
2,267
7,747
4.507
745
248
33,013
4,751
50,571
2,768
1,095
—
602
138
_______ 204,324 4,689,983 403,3 52 5 ,6 3 5 ,6 4 7
1909.
208 ,037
294 ,590
156 ,180
723
50,328
270,106
126,807
23,810
3 4 ,549
165,646
56,770
29,433
24,234
30,103
16,647
51,146
129,023
2,733
15,429
5,203
13 2",3 57
8,952
3 3 ,902
6,055
82", 598
8 1 0 ,1 6 5 1,148,202
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
R eceipts at—
1909.
1907.
1908.
1905.
1906.
1904.
84,630
15,022
52,563
36,050
6,920
9,491
31,576
75
25,426
21,522
6,292
99,196
20,551
59,974
16,028
7,672
17,417
26,621
184
15,907
122,413
8,7 0 5
110,567
8,517
60,841
5,740
4,204
3,696
20,756
875
7,833
66,1 5 7
10,575
52,772
7,312
39,1 1 5
7,460
2,526
5,479
21,995
527
22,611
76,299
10,958
97,381
13,052
50,364
11,594
8,877
5,115
13,551
393
17,470
403 ,352
391 ,364
3 5 4 ,2 0 7
236,489
305 ,0 5 9
G a lv e s t o n ___
F t. A rth u r, A c.
N ew O rle a n s.
M o b i l e _______
S av an n ah ___
B r u n s w ic k ___
C h arleston , A c
W ilm in g t o n ..
N o r f o l k ______
N ’ p o r t N ., &c
A ll o th e r s ____
76,251
984
39,5 8 3
7,535
27,743
13,687
5,369
9,472
17,401
1,047
5,252
141,587
T o ta l this w k .
204,324
S in ce S e p t. 1 . 4 ,689,983 5 .635,647 4,412,641 5,4 5 0 ,8 4 7 4 ,8 3 8 ,2 1 0 5,5 9 5 ,7 6 3
The exports for the week ending this evening reach a total
of 106,966 bales, of which 39,896 were to Great Britain,
13,595 to France and 53,475 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1909:
Week endin'7 Dec. 10 1909.
Exported to—
Exports
from —
Galveston
ContiGreat
Britain. Fr'nce nent.
. _.
Corp.Chris., Ac.
New O rleans.,
Total.
13,778 10,544 13,891 38,213
8,700 25,409
16,709
.--
15,565 15,565
Charleston------
12,250 12,250
Savannah
N o r fo lk --------Newport News
New Y o r k -----B a ltim o re -----Philadelphia . .
Portland, M e ,.
San Francisco.
Seattle ...........
Tacom a . . . —
Portland, Ore.
P e m b in a .........
D etroit----------T o t a l ...........
25
3.013 3,05l
2,503
1,745
_
793
200
1,100
801
.........
—
_____
.........
25
___
6,887
2,269
2,703
2,845
_____
____
800
_____
_____
_____
.........
From Sept. 1 1909 to Dec. 17 1909.
Exported to—
Great
Britain. France.
465,438 336,266
16,780 9,699
______
_____
239,266 122,323
15,609 38,736
27.628 32,018
7,528
166,965 82,148
65,443
5.496
11,820
76,138 15.700
4,800
______
_____
77,320 35,010
67,035
13,444 3,470
29,364
—
______
______
_____
—
_____
—
_____
............ .........
Continent.
Total.
499,435 1,301,139
35,121
61,600
9,876
9,876
121,549 483,138
72,259
17,914
80,627
20,981
7,528
325,346 574,459
71,287 142,226
83,124
94,944
136,113 227,951
70
4,870
—
______
55,869 108,199
6,940
73,975
22.870
39,784
9,093
38,457
______
______
8,858
8,858
9.924
9,924
100
100
200
200
600
600
......... ............
39,896 13,595 53,475 106,966 1,284,578 680,866 1,435,270
t>. 1
LXX X IX .
ill
S U G A R .— Raw has been quiet and easier. Centrifugal,
96-degrees test, 4.17c.; muscovado, 89-degrces test, 3.67c.,
and molasses, 89-degrees test, 3.42c. Refined has been
easy, with new business dull and withdrawals on old con
tracts light. Granulated 4 .9 5 @ 5 .0 5 c . Teas have been firm
and moderately active. Spices have been quiet and firm.
Wool steady and more active. Hops dull and steady.
P E T R O L E U M .— Refined has been steady with small sales
for domestic and export account. Barrels 8.0 5c., bulk
4.55c. and cases 10.45c. Gasoline has been in moderate de
mand and steady; 86 degrees, in 100-gallon drums, 1 8 % c .;
drums, $8 50 extra. Naphtha has been quiet and steady;
7 3 @ 7 6 degrees, in 100-gallon drums, 1 6 % c .; drums, $8 50
extra. Spirits of turpentine has been quiet and easy at
57J/jC. Rosin has been quiet and steady; common to good
strained $4 1 5 @ $ 4 25.
TO B AC C O .— There has been an absence of noteworthy
developments in the tobacco market during the week. The
purchases of domestic leaf, as usual at this time of the year,
have been light, and what little business has been put through
has been mainly for January billing. Havana and Sumatra
have been quiet. Prices have been steady.
CO PPER has been firmer, though without marked change.
Consumptive purchases have been light, but there has been
a larger demand for speculative account. The exports in
the first half of December were 11,784 tons. Lake 1 3 j^ @
1 3 % c ., electrolytic 13 % c. and casting 1 3 ^ c .
Lead has
been firmer and more active at 4.60c. Spelter has been dull
and steady at 6 .2 0 @ 6 .3 0 c . Tin has been quiet and firmer;
spot 32.95c. Iron has been less active. Prices in the main
have been steady, but reports are persistent that concessions
are being made by some sellers. No. 1 Northern $18 5 0 @
$19; N o. 2 Southern $18 2 5 @ $ 1 8 75. Wire nails and other
wire products have advanced $1 a ton, making an advance
of $5 above the low level of May.
[VOL.
Total 1908------ 115,182 63,239 88,725 267,146 1,601,539 584,941 1,824 350j 1,010,833
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. W e add similar figures for
New York.
THE CHRONICLE
D e o . 18 1909
On Sh ipboard. N ot Cleared fo r—
D ec . 17 at—
N ew O r le a n s ..
G a lv e s t o n ____
S av an n ah ____
C h a rle s to n ____
M o b i l e ________
N o rfo lk .............
N e w Y o r k ____
O th e r p o r t s ___
C oast
w ise.
Total.
15,000
2",666
1,000
436 11,780
3 2 ,250 121,992
1,082
500
1,500
1,500
6,0 0 0 14,382
20,200 20,200
4,400
3 4 ,000
20,313 52,075
30,519 87,466
3 3,750 121,432
31,355
59,480
32,564
60,886 209,336
29,855 360,249
44,943 306,288
2,844
20,445
1,872
14,141
3,248
30,181
582
2,618
3,600
2,164
'8 0 0
18,000
"700
T o ta l 1 9 0 9 .. 44,707
T o ta l 1 9 0 8 . . 152.929
T o t a l 1 9 0 7 .. 73,599
Other
F oreign
G er
m any.
G reat.
B ritain . F ra n ce
3,3 8 0
24,975
“566
L eavin g
S tock.
144,400
8 6 ,0 4 5
125 ,725
33.049
3 5,946
18,903
124,623
38,138
606 ,829
787 ,953
681,031
F U T U R E S .— The highest, lowest and closing prices at
New York the past week have been as follows:
Q a T s a r O M l Q M f Q B g Q53§ Q M 3 Q M 3 Q a T QM ?
O P o » l o f 3 l o ! 2 ^ O f 1 o ! 1)| o t a O E | O S » O g | o g l
w 3 I m3 m 3 I B 3
3 1 c/3 3 I
a 1w 3 w 3 I m 3
wP
3-jq
3-rj
3-75
3^ 3^
3 5 IP'S
P'S
<g‘1>l£ fP g *
I
Co io
©
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CO CO
I
Co b
I___ TOCO
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
D ec . 11 to D ec. 17—
M id dlin g u p la n d s _____
Sat.
.1 5 .2 0
M on .
15.20
T u cs.
15.1 0
W ed.
15.15
T h u r s.
15 15
Fri.
15.10
N E W Y O R K Q U O TATIO N S F O R 32 Y E A R S .
The quotations for middling upland at New York on
Dec. 17 for each of the past 32 years have been as follows:
1 9 0 9 .C . . .
1 9 0 8 _____
10 0 7 _____
19 0 6 _____
19 0 5 ..........
19 0 4 _____
190 3_____
190 2_____
.1 5 .1 0
- 0.10
.1 1 .9 0
10.55
. 12.20
_ 8 .05
12.70
. 8.7 0
1 9 0 1 .c__
1 9 0 0 ____
1899 _ .
189 8____
1 8 9 7 ____
1896 . . .
189 5_____
1894 . . . . .
..
..
..
._
..
...
.
..
8 .50
10.00
7.69
5.81
5.88
7.19
8.56
5.751
8 .0 0
18 9 3 .C —
1892.......... . . 1 0 .0 0
1891______ __ 7.94
189 0_____ _ . 9.3 8
1 8 8 9 .. - . _ .1 0 .2 5
9.81
1 8 8 8 _____
1887_____ ..1 0 . 6 2
1886 ....... ... . . 9 .50
1 8 8 5 .c _____
1881 ......... ..
1883... . .....
1882________
1881
1880 . ____
12.62
187 9_____
18 7 8 ________ 8.04
M A R K E T A N D SA LES A T N E W Y O R K .
Tlie total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
S p ot M arket
Closed.
S a t u r d a y ,M o n d a y .. .
T u e sd a y
W ednesday
T h u r sd a y .
F r id a y ____
F u tu res
M arket
C losed.
E a s y ________
Q u iet ______
V e ry s t e a d y .
Q u iet, 10 p ts . d e c . . S t e a d y _______
Q u ie t, 5 p ts . a d v ___ Firm _ _______
S ales o f Spot and Contract,
C on C on
S p o t. sum ' n. tract.
2",4 66
2,4 66
::::
"2 6 6
900
1,3 0 0
"2 6 6
969
1,300
....
4 ,8 0 0
4 ,869
Q u iet 5 p t o . d e c ___ S t e a d y _______
T o ta l _ _
Total.
C l I|
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-15.52
G ood raid, tlnged.c. Even
Strict m id. tin g e d ..0 .1 5 off
Middling tinged___0.25 ofT
Strict low m ld.tlng.0.60 ofT
Low m id. tinged___1.50 off
Middling stained__ 0.75 off
M W
w .w
15.62
-15.60
M id d lin g_______ c_ Basis
Strict low. m id___ 0.25 off
Low m iddling......... 0.60 ofT
Strict good o rd ___ 1.05 off
G ood ordinary___ l .75 off
Strict g'd mid. tgd.O 35 on
I©
c jt c i
o» 1
•14.00
-14.00
F a ir ...................... c . l 50 on
Strict m id. fair_____1.30 on
Middling fair............. 1.10 on
Strict good m id------- 0.60 on
G ood m iddling------- 0.44 on
Strict m iddling------- 0.22 on
to to
--w
Co Co
Speculation in cotton for future delivery has been less
active at some decline. The price is by many considered
so dangerously high that speculation has become more cau
tious. The Liverpool spot sales have fallen to low figures
daily, and reports of the poor condition of trade throughout
Europe are persistent. Curtailment is spreading, not only
across the water but in this country. French spinners using
Egyptian cotton will, it is said, adopt short-time to the ex
tent of 2 0 % of their capacity, owing to the current high
prices. Lancashire spinners have been reducing their work
ing time, owing to what are regarded as prohibitive prices
for the raw material. Knitting mills in New York State are
also decreasing their output. Sales of “ Christmas cotton,”
i. e., cotton sold around the Christmas holidays to provide
holiday funds for planters, have been in evidence, and for
some days past there has also been considerable pre-holiday
“ lon g" selling of futures by those who deemed it advisable
to take profits. Liverpool has been a large seller and Wall
Street, the West and the South have also at times sold freely.
The Boston yarn market has been dull and concessions are
necessary in order to make sales. Washington dispatches
state that steps will be taken early next week towards the
introduction of anti-option legislation, with which the Fed
eral authorities, it is understood, will be in sympathy. Spot
cotton at the South has been generally reported quiet but
firm, with spinners adhering to the policy of buying from
hand to mouth. Receipts have been light and cotton goods
have in some cases advanced. It is believed by some that
the next ginning report by the Census Bureau will show an
amount of cotton ginned in some States in excess of the re
cent Government crop estimate for those States. Large
Western and Southern operators who are said to have re
cently liquidated freely have, according to current rumors,
been buying within the last few days. Large spot interests
have also bought. New Orleans and Memphis have at times
reported a somewhat better spot demand. The market,
however, has shown a weak, hesitating tone. Many of the
most experienced members of the trade regard present prices
as unwarranted and dangerous, and predict that there will
ultimately be a collapse of prices very similar to that of the
Sully year. To-day prices declined early on heavy liqui
dation by the South and the W est, as well as continued sell
ing by Liverpool, where the spot sales were only 3,000 bales.
It was pointed out that the quantity brought into sight
this season is still approximately 700,000 bales more than
for the same period two years ago, when the crop was about
11,400,000 bales. Towards the close bull support and
covering caused a rally. Spot cotton here has been quiet.
Middling uplands closed at 15.10c., a decline of 10 points.
The rates on and off middling, as established N ov. 18 1908
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
1607
*-*
Ci
SI
4- 4bb
U- CI
4- Joeb
Ci©
—
?r
T H E V IS IB L E S U P P L Y OF CO TTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week's returns, and conse
quently all foreign figures are brought down to Thursday
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.
1909.
.1,0 4 8 ,0 0 0
5,000
7 3 ,000
1908.
7 13 ,000
10,000
3 8 ,000
1907
7 27 .000
16,000
52.000
1906.
571 ,000
8 ,0 0 0
4 3 ,0 0 0
.1,1
,12266,0
,00000
T o ta l G rea t B rita in s t o c k ---------1
4,0 0 0
S to c k a t H a m b u r g .................
. 244 ,000
S t o c k a t B r e m e n ----------------. 3 89 ,000
S to c k a t H a v r e ............... .........
2,000
S to c k a t M arseilles..................
8 ,0 0 0
S t o c k a t B a r c e l o n a ------------.
4 5 ,000
S to c k a t G e n o a --------------------1,000
S t o c k a t T r i e s t e -------------------
7 61 ,000
14,000
3 34 ,000
189 ,000
3 ,0 0 0
2 3 ,000
4 2 ,000
4,0 0 0
7 9 5 .0 0 0
16,000
2 34 ,000
1 52 ,000
4,0 0 0
16,000
18,000
2 4 ,000
6 22 ,000
1 1,000
2 46 ,000
116 ,000
3,0 0 0
1 1,000
8 5 ,0 0 0
1,000
6 09 ,000
4 6 4 ,0 0 0
4 7 3 ,0 0 0
D ecem ber 17—
S to c k a t L iv e r p o o l............... ..
S to c k a t L o n d o n ---------------S to c k a t M a n c h e s t e r -----------
T o t a l C o n tin e n ta l s t o c k s _______.
6 9 3 ,0 0 0
.1 ,8 1 9 ,0 0 0 :1 ,370 000 1 ,2 59,000 1 ,0 9 5 ,0 0 0
T o t a l E u ro p e a n sto ck s
108 ,000
55,000
6 8 ,000
In d ia c o t t o n a ilo a t f o r E u r o p e . . .. 136 ,000
8 5 5 ,1 0 9
8 76 ,209
A m e r . c o t t o n a ilo a t f o r E u rop e. . 5 27 ,175 1,078,544
9 1 ,0 0 0
7 5 ,000
5 8 ,000
G7,000
E g y p t ,B r a z il,& c .,a flt f o r E u rop e.
2 1 7 ,0 0 0
2 23 .000
261 ,000
S to c k In A le x a n d r ia , E g y p t -------- . 230 ,000
4
0 5 .0 0 0
3
44
,000
211
,000
S to c k In B o m b a y , I n d ia -------------- . 4 17 ,000
987 ,319 1 ,3 9 2 ,9 3 0
S to c k In U . S . p o r t s -------------------- . 8 16 ,165 ;1,148,202
7 0 8 ,7 1 0
545 ,916
883 ,158
S to c k In U . S . in te rio r t o w n s ------ . 778 ,623
50,164
86,114
3 9 ,099
5 2 ,8 9 5
U . S. e x p o r ts t o -d a y ........................
.4,8
,83344,8 5 8 !5,126,003 4 ,4 5 1 ,5 5 8 4 ,9 3 1 ,9 1 3
T o ta l v is ib le s u p p ly -------------- .4
O f the a b o v e , to ta ls o f A m e r ic a n a n d o th e r d e scrip tio n s are as fo llo w s :
A m erica n —
5 0 9 .0 0 0
6 03 ,000
6 17 ,000
L iv e r p o o l s t o c k _____________ b a le s . 9 47 ,000
3 6 ,0 0 0
29,000
4 2 ,0 0 0
M a n ch ester s t o c k --------------------------61,000
4 3 2 .0 0 0
3 8 5 ,0 0 0
565,000
C on tin en tal s t o c k --------------------------- 672 ,000
8 55 ,109
876 ,209
A m e rica n afloa t f o r E u r o p e --------- 527,17.) 1 ,0 78,544
3 9 2 ,9 3 0
9 87 ,319
U . S. p o rt s t o c k s _________________
8 16 ,165 1 ,1 68,202
7 0 8 ,7 1 0
545 ,916
8 83 ,158
U . S. In terior s t o c k s --------------------- 778,623
56,164
86,114
3 9 ,099
U . S . e x p o r ts t o -d a y --------------------52,895
T o t a l A m e r i c a n _________________ 3 ,8 5 4 ,8 5 8 4 ,3 4 6 ,0 0 3 3 ,5 3 9 .5 0 8
E ast In d ia n , B ra zil, A c .—
110
L iv e rp o o l s t o c k _____________________ 101 ,000
110 ,000
1 10,000
,000
110,000
16,000
10,000
L o n d o n s t o c k _________
5 ,0 0 0
1 0,000
1 6,000
10,000
9,000
M anch ester s t o c k ---------------------------12,000
9 ,000
1 0,000
4444,000
C on tin en tal s t o c k __________________
2 1 ,0 0 0
,0 0 0
7 9 ,000
5555,000
68,000
In d ia a ilo a t f o r E u r o p e ___________
1 36 ,000
6 8 ,000
,0 0 0
7755,000
67,000
E g y p t , B ra zil, & c ., a f lo a t ____
5 8 ,0 0 0
6 7 ,0 0 0
,0 0 0
2223
261,000
S to c k ifi A le x a n d r ia , E g y p t ______
2 3 0 ,0 0 0
261 ,000
2 3,000
,0 0 0
3
4
4
,0
211
S to c k In B o m b a y , I n d ia __________
4 1 7 ,0 0 0
2 11,000
,000
3 4 4 ,00000
T o ta l E a st I n d ia , &c_
T o ta l v is ib le s u p p ly M id d lin g U p la n d , L iv e r p o o l--------M id dlin g U p la n d , N ew Y o r k ------E g y p t , G o o d B ro w n , L i v e r p o o l ..
P e ru v ia n , R o u g h G o o d , L iv e r p o o l
B r o a c h , F in e , L iv e r p o o l--------------T In n e v e lly , G o o d , L iv e r p o o l-------
980 ,000
9 12 ,000
780 ,000
4 ,3 46.003 3 ,5 3 9 ,5 5 8
5 ,1 26,003 4 ,4 5 1 ,5 5 8
4 .8 2 d .
G .lO d.
8 .0 3 d .
9 .1 0 c .
1 1 .8 0 c.
1 5 .1 0 c .
13 K d . 8 1 3 -lG d . 10 11-16(1.
7 .8 0 d .
I t ,75d.
9 .5 0 d .
7 H d . 4 ll-1 6 d . 5 ll-1 6 d .
5M d.
7d. 4 ll-1 6 d .
6 2 ,0 0 0
8 ,0 0 0
7 ,0 0 0
1 0 8 ,0 0 0
9 4 ,0 0 0
2 1 7 ,0 0 0
4 0 5 ,0 0 0
9 4 2 ,0 0 0
5 .6 9 d .
1 0 .5 5 c.
10^d.
9 .2 0 d .
5«d .
5 7-1 6 d .
Continental imports for the past week have been 154,000
bales.
The above figures for 1909 show an increase over last week
of 60,874 bales, a loss of 291,149 bales from 190S, an
increase of 383,300 bales over 1907, and a decrease of 97,055
bales from 1906.
sa«a<.
Eisi
THE CHRONICLE
1 6 0 8
AT T H E IN T E R IO R T O W N S the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year— is set out
in detail below.
OMoOOOoOOMMaOOOOO^
O ’ff^O 05H O h*b> O O l, H 1< Q 0O O '____________ , _____________
CO O O i> 05 1.0o O O b'*1.0Cl O rc O CCCOO OCn* 0- <0 Tf O ^'l rf O o C5 ’■f 00
rfiC O ’f-fW H O b-b-fO Pl
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O CO COTf o o O O O o O O b ’ I ' W M c O i . ' J h . b O o O ^ H f J r t t O l '
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M i s s o u r i __
N o r t h C a ro
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S o u th C a ro
Tennessee .
s:
K e n tu c k y , n e t
L o u is ia n a .
M is s is s ip p i
1
11
A londa y. Tuesday, W ed ’day. Thursd'y, F r id a y .
15
15
15
14 X
14 y%
14 X
15 %
15.20
15 %
15.45
15%
15%
15 %
15
14 X
15
15
15
14 %
14 X
14%
15
15.20
15 %
15.45
15 1-16
15 X
15 X
15
14 X
S a t’day,
D e c . 11.
M 'O C O O C O M C O I '
■ ■ J O O O C O 'T O
05MO©05 00M OOb>«OMN(Oif30 O COto II
CJ05C5MHOOOr-<COHCCr2C'JCMOcOC5^0C?5h>'t O b O ’
OCCrtCOCO^OOoOWOOCr
*
C O X O O r H O O X pjlflbr
CO^lOirHrH
T-HCMCMT MHrt CO X
o co
G a lv e sto n _ _
N ew O rle a n s___
M o b i l e _________
S a v a n n a h ______
C h a r l e s t o n ____
W ilm in g t o n ____
N o rfo lk _
B o s to n ________
B a lt i m o r e ____
P h ila d e lp h ia ___
A u g u s t a _______
M e m p h is _______
S t. L o u i s ___ __
H o u sto n . _
L ittle R o c k ____
C losin g Q uotations fo r M id d lin g Colton o n S a l'd ay,
15
15
15
14 X
14 X
14 %
15.20
15 X
15.35
15
15 X
15 X
15
14 X
15
15
15
14 %
14 X
14 %
15
15.10
15 'X
15.40
15
15 X
15%
15
14 11-16
15
15 1-16
15
14 11-16
14 X
14 X
15
15.15
15.40
15 X
15 X
15 X
15
14 11-16
15
15 1-16
14 X
14 11-16
14%
15
15%
15.35
15 3-16
15%
15%
14%
N E W O R LE A N S O P TIO N M A R K E T .— The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
o o c M o t ^ x o x x o c M c o x i^ c 'ii.o O ’-'i-ooi.o^H cot^r^r^cM ooxxo©
OoObOaOTj'OTl'fJt'-MO^cOOcOOiflcOrjcOOTHOOtOOWMOTiiOrt
'Tc\ic>’Tcot-'»OT-Hi'*i'-TfOcvjootN
-xiOT-*-tior^iOTj<or^'X h o o o o o c
COrtfSOOcO^^^ © 05
rH COCO
M CO’<0
OC0 05C
•fONC
W eek ending
[V O L . L X X X I X
i
•
j
•
j
§
D ecem ber—
R a n g e _______
C lo sin g_______
J a n u a ry —
R a n g e _______
C lo sin g _______
F eb ru a ry—
R a n g e _______
C lo s in g _______
M a rch —
R a n ge _______
C lo sin g_______
A p r il—
R a n g e _______
C lo s in g . . . . . .
M ay—
R a n g e _______
C lo s in g .. -----J u n e—
R a n ge _______
C losing . _ .
J u ly —
R a n g e _______
C lo sin g _____
Septem ber—
R a n g e _____
C lo sin g _______
October—
R a n g e _______
C lo s in g _______
T on e—
S p o t _________
O p t io n s _____
M o n d a y , Tuesday, W ed'day. Thursd'y, F r id a y ,
D e c . 13. D e c . 14. D e c . 15. D ec . 16. D e c . 17.
15.12-. 24 — @ — 15.1 0 -.1 7 1 5.09-.1 4 15.14-.2 1 1 5 .1 0 -.1 3
15.17-.1 8 15.20-.2 2 15.10 — 15.14-.1 5 15.12 — 1 5 .1 2 -. 14
1 5.27-.4 0 15.0 0 -.3 5 15.20 -.3 6 1 5 .1 6 .2 6 15.18-.3 2 15 .1 2 -.2 2
15.31-.3 2 15.3 4 -.3 5 15.22-.23 15.25- .20 15.19-. 20 15.18 -. 19
— @ — — c a 1 5 .3 6 1 5 .4 8 .5 0 l s . 51-.53 1 5 .3 6 -
—.43@ — — © — — © —
15.39-.4
.39
1 15.35-.36 15.29-.3 1
15.66-.84 15.46-.7 6 1 5 .60 -.7 7 15.58-.6 7 15.6 0 -.7 6 1 5 .5 5 -.6 5
15 .71-.72 15.75-.76 15.63-.6 4 13.66- .67 15.61 -. 6 2 15.60-.61
— @ — — @ — — © — — © — — © — — @ —
1 5.73-.7 5 15.77-.7 9 15.65-.68 1 5.68-.7 0 1 5 .6 2 -.6 5 15.62-.6 4
1 5.98-. 18 15.81- 07 15.91-.0 8 1 5 .8 9 .9 8 15.9 2 -.0 7 1 5.88-.9 8
16.03-.04 1 6 .0 7 .0 3 1 5.93-.9 4 15.96-. 97 1 5 .9 2 .9 4 15.92-.9 3
— @ — — @ — — @ — — © — — @ — — @ —
16.05-.0 7 16.08-.10 15.95-.9 8 1 5.98-.0 0 15.9 4 -.9 6 1 5.94-.9 6
16.10-.2 7 1 5.99-.1 8 16.02-.1 7 15.99-. 10 16.04-.1 8 1 6 .0 0 -.1 0
1 6 .1 5 .1 6 16.17-. 18 16.0 4 -.0 5 16.08-. 09 16 .0 4 -.0 5 1 6.04-.0 5
13.81-.86 13.70-.91 1 3.98-.0 0 13.95-.9 8 13.93-.98 13.90- .92
1 3 .8 0 .8 2 1 3 .9 3 .9 5 1 3.93-.9 7 13.95-.9 6 13.92-.94 13.9 2 -.9 4
13.23-.29 13.12- .35 13.30-.34 1 3.28-.3 0 1 3.28-.3 7 13.2 7 -.3 6
13.21-.2 5 13.3 1- .35 1 3 .2 9 .3 1 13.31-.32 1 3.28-.3 0 13.3 4 -.3 0
S te a d y .
S te a d y .
S te a d y .
F irm .
Q u iet.
S te a d y .
F irm .
S te a d y .
S te a d y .
S te a d y .
Q u ie t.
S te a d y .
W E A T H E R R EP O R TS B Y T E L E G R A P H .— Advices to
us by telegraph this evening from the South denote that while
in Texas there has been little or no precipitation during the
week, elsewhere rain has been quite general, with the rainfall
rather heavy at some points.
G a l v e s t o n , T e x a s . — W e have had rain on two days of the
The above totals show that the interior stocks have i n week, the precipitation reaching four hundredths of an inch.
c r e a s e d during the week 19,302 bales and are to-night 104,535
The thermometer has averaged 53, the highest being 70 and
bales less than at the same time last year. The receipts the lowest 30.
at all the towns have been 144,625 bales less than the same
A b i l e n e , T e x a s . — No rain the past week.
The thermome
week last year.
ter has averaged 45, ranging from 20 to 64.
C o r p u s C h r i s t i , T e x a s . — We have had no rain during the
O V E R L A N D M O V E M E N T F O R T H E W E E K A N D week. The thermometer has ranged from 38 to 78, aver
SIN C E SE P T. 1.— W e give below a statement showing the aging 58.
overland movement for the week and since Sept. 1, as made
F o r t W o r t h , T e x a s .— It has rained on one day of the week,
up from telegraphic reports Friday night. The results for the to an inappreciable extent. Average thermometer 41, high
week and since Sept. 1 in the last two years are as follows:
est 58, lowest 24.
P a l e s t i n e , T e x a s . — W e have had rain on one day of the
D ecem ber 17S in ce
S in ce
week, the precipitation reaching twelve hundredths of an
S ep t. 1.
S h ip p ed —
W eek .
W eek .
S ep t. 1.
inch. The thermometer has averaged 45, the highest being
. 13,036
190,373
310,196
34,501
175,125
13,888
. . 7,496
96,486
60 and the lowest 24.
1,602
6,180
6,287
Vi,-i R o c k Is la n d .
..
559
S a n A n t o n i o , T e x a s . — W e have had rain on one day of the
38,308
2,672
35,366
.
2,348
20,268
23,814
2,682
. . 2,232
past week, the rainfall being three hundredths of an inch.
7,341
71,778
52,390
V ia V irgin ia p o in t s ____________ . . . 4,381
The thermometer has averaged 50, ranging from 32 to 08.
81,963
8,998
111,020
Via o th e r r ou tes, & c ........ ........... . . 7,823
T a y l o r , T e x a s . — W e have had rain on one day during the
71,684
736,421
4 83 ,133
..3 7 , 8 7 5
week, the precipitation reaching six hundredths of an inch.
D educt sh ipm en ts—
68,008
7,901
O v erla n d t o N . Y . , Host
4 0 ,9 4 0
The thermometer has ranged from 28 to 04, averaging 40.
! . . 3 ,0 1 6
21,914
2,286
B etw een Interior t o w n s .
. . 1,629
13,111
N e w O r l e a n s , L o u i s i a n a . — W e have had rain on four days
14,974
538
. . 1,251
17,578
during the week, the rainfall being four inches and twenty104,896
. . 5,896
10,725
71,6 2 9
five hundredths. Average thermometer 52.
S h r e v e p o r t , L o u i s i a n a . — There has been rain on three days
6 3 1 ,5 2 5
..3 1 ,9 7 9
60,9 5 9
411 ,504
of the week, the precipitation reaching three inches and
* I n c lu d in g m o v e m e n t b y rail t o C an ada.
twenty-four hundredths. The thermometer has averaged
The foregoing shows the week’s net overland movement 46, the highest being 05 and the lowest 20.
has been 31,979 bales, against 00,959 bales for the week last
V i c k s b u r g , M i s s i s s i p p i . — It has rained on two days during
year, and that for the season to date the aggregate net over the week, the rainfall being one inch and forty-four hun
land exhibits a decrease from a year ago of 220,021 bales.
dredths. The thermometer has averaged 48, ranging from
-190827 to 67.
In Sight and S p in n ers’
S in ce
S in ce
M e m p h i s , T e n n e s s e e . — W e have had rain on three days
T a kin gs.
S ep t. 1.
W eek .
S ep t. 1.
during the week, the precipitation being three inches and
R c c e lp ts a t p orts t o D e c. 1 7 . .............204 ,324 4 ,6 8 9 ,0 8 3
4 0 3 ,3 5 2 5,6 3 5 ,6 4 7
N e t ov e r la n d t o D ec. 1 7 _____________ 3 1 ,9 7 0
411 ,504
6 0 ,957
631 ,5 2 5
thirty-four hundredths. The thermometer has averaged
S ou th ern co n s u m p tio n to D e c. 1 7 . . 5 2 ,000
806 ,0 0 0
5 0 ,000
696 ,000
38.2, the highest being 51.5 and the lowest 25.
T o t a l m a r k e te d ____________________ 288 ,303 5 ,9 0 7 ,4 8 7
514,311 6 ,963,172
N a s h v i l l e , T e n n e s s e e . — The week’s rainfall has been fiftyIn te r io r s to c k s In e x c e s s ____________ 19,362
695 ,460
21,707
768,233
nine hundredths of an inch. The thermometer has averaged
C am e Into sight d u rin g w e e k ____ 3 0 7 ,6 6 5 ...................
536,018
37, ranging from 10 to 57.
T o ta l in sig h t D e c. 1 7 _____________________ 6 ,6 0 2 ,9 4 7
.
7 ,7 3 1 ,4 0 5
M o b i l e , A l a b a m a . — There has been rain on three days of
the past week, the rainfall being three inches and sixty-seven
N o rth , sp in n ers’ takin gs t o D ec. 1 7 .1 2 2 ,4 7 5 1,054,661
123 ,259 1,283,494
hundredths. The thermometer has ranged from 34 to 60,
Movement into sight in previous years:
averaging 51.
W eek —
B a les.
S in ce S ep t. 1—
B ales.
M o n t g o m e r y , A l a b a m a . — Rainfall one inch and eighty-eight
1907— D e c. 2 0 . . . ..................... .4 8 9 ,0 2 2 1907— D e c. 2 0 .....................
5 ,917,115
1906— D ec. 2 1 _____________
492 ,7 3 5 1906— D e c. 2 1 ______________7 ,3 1 4 .1 7 2
hundredths, on three days of the week. Average thermome
1905— D e c. 2 2 ______________
341 ,1871905— D e c. 2 2 ______________ 6,581,031
ter 47, highest 02, lowest 20.
Q U O TA TIO N S FO R M ID D L IN G COTTON AT O T H E R
S e lr n a , A l a b a m a . — There has been rain on three days of the
M A R K E T S .— Below are the closing quotations of middling week, the precipitation reaching one inch and sixty-seven
cotton at Southern and other principal cotton markets for hundredths. The thermometer has averaged 42, the highest
each divf of the week.
being 59 and the lowest 25.
Savannah, Georgia.— Wc have had rain on three days^dur
ing the week, the rainfall being forty hundredths of an inchAverage thermometer 51, highest 69, lowest 28.
Charlotte, North Carolina.— Farmers arc willing sellers at
15 cents. We have had rain during the week, the precipita
tion reaching one inch and fifty-nine hundredths, lh e ther
mometer has ranged from 28 to 60, averaging 42.
Helena, Arkansas.— 1There lias been rain on three days of
the past week, the rainfall being three inches and ninetythree hundredths. The thermometer has langed from 27 to
50, averaging 32.
Little Itock, Arkansas.— Rain has fallen on three days of
the week to the extent of two inches and sixty-five hundredths
Average thermometer 40, highest 54, lowest 26.
Charleston, South Carolina.— Wc have had rain on one day
of the week, the precipitation reaching thirty hundredths of
an inch. The thermometer has averaged 50, the highest
being 68 and the lowest 32.
The following statement we have also received by tele
graph, showing the height of rivers at the points named at
8 a. m. of the dates given:
17 1000.
D ec.
N ew O r l e a n s ,_________ A b o v e
M em phis . . . . _________ A b o v e
N ashville ______________A b o v e
S h r e v e p o rt_____________ A b o v e
V i c k s b u r g ______________A b o v e
z ero
z ero
z ero
zero
zero
of
of
of
of
of
F eet.
F eet.
5.0
15.7
0 .7
5.6
2 0 .0
5.0
0.2
10.3
4 .5
17.0
gauge.
gauge.
gauge.
gauge.
gauge.
1
to D e c e m b e r
For 1909.
. ,
T a k in gs b y spinners . . — bales
A v era g e w eigh t o f b a le s -------lbs.
T a k in g s In p o u n d s -----------------------
610 ,000
400
2 0 8 ,9 0 0 ,0 0 0
805 ,000
487
4 3 5 ,8 6 5 ,0 0 0
1,5 0 5 ,0 0 0
488.2
734 ,7 0 5 ,0 0 0
470 ,0 0 0
487
22 8 ,8 9 0 ,0 0 0
1 ,031,000
485
50 0 ,0 3 5 ,0 0 0
1,5 0 1 ,0 0 0
48 5 .6
7 2 8 ,9 2 5 ,0 0 0
According to the above, the average weight of the de
liveries in Great Britain is 490 pounds per bale this season,
against 487 pounds during the same time last season. The
Continental deliveries average 487 pounds, against 485
pounds last year, and for the whole of Europe the deliveries
average 488.2 pounds per bale, against 485.6 pounds last
—.......
season. Our dispatch also gives the full movement for this
G reat
B r ita in
C o n ti
n en t.
G reat
B r ita in
T o ta l.
C o n ti
n en t.
T o ta l.
S p in n ers’ s to c k O ct. 1 ________
T a k in g s t o D ec. 1
. ________ _
234
598
1,218
872
1,452
1,470
308
458
1,046
1 ,0 0 0
1,354
1,458
S u p p ly ....... ............................
C o n s u m p tio n , 8 w e e k s ________
832
560
2,090
880
2,922
1,440
766
360
2,046
880
2,812
1,240
S p in n ers’ s to c k D ec. 1 _____
272
1 ,2 1 0
1,482
406
1,166
1,572
70
70
110
110
180
180
♦30
60
110
110
140
170
W e ek ly C o n su m p tio n ,
0 0 0 s o m itte d .
In O c t o b e r _____________________
In N o v e m b e r ---------------------------
* Sm all c o n s u m p tio n d u e t o lo c k -o u t In L a n ca sh ire.
The foregoing shows that the weekly consumption is now
180,000 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 88,000 bales during the month and are now 90,000
bales less than at the same date last season.
INDIA COTTON MOVEMENT FROM ALL PORTS.
W eek .
B om bay................................... 130,000
1907.
1908.
1909.
R ec eip ts a t—
S in c e
S e p t . 1.
W eek .
709,000
81,000
| S in c e
1 S e p t . 1.
S in c e
W eek .
| S e p t . 1.
306,000J 72,000j 373,000
|
F o r the W e e k .
S i n c e S e p te m b e r
1.
exp orts
1909 . '
1998 <»
1 9 0 7 1 :::.
C o n tin en t.
Japan
& C h in a
T o ta l,
i
G reat
B rita in .
C o n tin en t.
24,000 46,000
18,000 41,000
14,000 14,000 30,000
9,000
2 ,0 0 0
2 ,0 0 0
2,0 0 0
9,000
4,000
2 2 ,0 0 0
2 1 ,0 0 0
2 ,0 0 0
1 ,0 0 0
1,0 0 0
1,000
2 ,0 0 0
1 ,6 6 6
____
2 ,0 0 0
4,000
____I
1,000
1,0 0 0
1,0 0 0
2 .0 0 0 1
4,000
3.00C
8 ,0 0 0
Japan
it C h i n a .
T o ta l.
151,000
87,000
75,000
303,000
206,000
213,000
10 ,0 0 0
8 ,0 0 0
1 2 ,0 0 0
26,000
9,000
4,000
7,000
16,000
1,000
2,000
143,000
117,000
134,000
1 1 .0 0 0
9,000
1 2 ,0 0 0
24,000
2 ,0 0 0
1 2 ,00 (
3,000
5,001
6 ,0 0 0
6 ,0 0 0
35,000
55,000
46,000
8 ,0 0 0
48,000
65,000
60,000
24,00( ’24.000 61,000
4,001 24,00( 19,001 47,000
4,000 19,000 15,000 38,000
27.000
14,001
19,000
191,000
189,000
204,000
153,000
106,001
83,000
371.000
309,000
306,000
2 .0 0 C
1,001
—
1,931,022
6 ,6 0 2 ,9 4 7
709 .000
3 0 7 ,6 6 5
130,000
5,000
4 0 .0 0 0
A m e r ic a n in sigh t t o D e c. 17 —
B o m b a y r e ce ip ts t o D e c. 1 6 ____
O th er In d ia s h ip ’ts t o D e c. 1 6 . .
A le x a n d r ia r e ce ip ts t o D e c. 1 5 O th e r s u p p ly t o D e c. 15 * _____
•2.IHM
5.000
3 ,0 0 (
i ,6 6 6
8 ,0 0 0
1 1 2 .0 0 0
6 ,0 0 0
6 8 ,0 0 0
9 ,9 0 6 ,9 6 9 5,6 1 3 ,8 2 6 10,4 4 4 ,3 8 7
4 ,8 3 4 ,8 5 8 5 ,126,003
5,1 2 6 ,0 0 3
487 .823
381 .823
106,000
5 .3 1 8 .3 8 4
4 .3 6 2 .3 8 4
9 56 ,000
5.072.111
4.202.111
870 ,0 0 0
431.791
314.791
117,000
T o ta l ta k in gs t o D e c. 1 7 . ____
O f w h ich A m e r ic a n ___________
O f w h ich o t h e r . .
_________
49,0 0 0
1,7 1 4 ,9 8 2
7 ,7 3 1 ,4 0 5
3 0 6 .0 0 0
103.000
4 77 .000
536,018
81,000
4 9 9 .0 0 0
97,000
1 0 .0 0 0
T o t a l s u p p ly ___________________ 5 ,2 6 6 ,6 4 0
D ed u c t—
V isib le s u p p ly D e c . 1 7 __________ 4 ,8 3 4 ,8 5 8
E m b r a c e s re ce ip ts In E u ro p e fro m B ra z il, S m y rn a , W e s t In d ie s, & c.
A LEXAN D RIA RECEIPTS AND SHIPMENTS.
A le x a n d r ia , E g y p t,
D e c e m b e r 15.
1907.
1909.
1908.
3 0 0 ,0 0 0
3 ,7 4 0 ,6 7 4
3 6 0 ,0 0 0
3 ,5 7 3 ,9 2 0
3 70 ,000
4 ,2 5 5 .1 3 8
T h is
S in c e
W e e k . S e p t . 1.
S in c e
T h is
W e e k . S e p t . 1.
S in c e
T h is
W e ek . S ep t. 1
3.2 5 0 75,378
7 ,7 5 0 63,732
7,0 0 0 124,513
3.250 32,897
9.5 0 0 71,061
9.5 0 0 65,436
10,500 100,438
4,2 5 0 19,633
9,500 112,007
8 ,7 5 0 9 9 ,180
7,0 0 0 123 ,848
4 ,2 5 0 25,021
T o ta l e x p o r t s --------------- 21.250 296,520 33,7 5 0 256,568
29,500 3 6 0 ,0 5 6
(cantars) —
T h is w e e k . ----------------S in ce S e p t. 1 ------------- -
!
R e c e ip ts
To
To
To
To
(bales) —
L iv e r p o o l------------
M a n c h e s t e r ------------- C o n t i n e n t ____________
A m e r ic a _______________
.
MANCHESTER M ARKET.— Our report received by
cable to-night from Manchester states that the market
continues quiet for both yarns and shirtings. Merchants are
buying very sparingly. We give the prices for to-day be
low and leave those for previous weeks of this and last year
for comparison.
1908.
8 % lb s. S h ir t-
32s
in g s, com m on
to f i n e s t .
Cop
T w ist.
d. s. d.
d.
10%
10%
(ft
(ft
(ft
10%
@
5
5
ll« 5
5
11
10%
@
11
10
10 K
(ft
17
10'A
©
11%
11%
10%
12
19
26
Dec.
3
11H
n v ,
5
5
5
s. d.
5
@9
©9
©9
@9
5%
@ 9 11
6
6
© 10 0
© 10 0
6
6
6
11
11
11
10
C o in .
M id .
XJpl’s
d.
8 % lb s. S h ir tin g s, com m on
to f i n e s t .
32s
Cop
T w ist.
d. s. d.
d.
s. d.
C o t .n .
M id .
U p l 's
fd.
0
©
8%
8%
5 1 ©8
5 0 ©8
4 10Ji © 8
4 10 @ 8
5
5.00
5.05
5.07
5.08
7.72 7%
©
7.94 7 9-10 ©
8.03 7 %
@
8%
8%
8%
4
4
4
4 Vi
4%
3
4.97
4.86
4.82
7.59 8 Vi
7.72 SVi
7.72 8
7.02 1 %
(ft
(ft
(ft
0%
9
9 @8
7% @ 8
6
@8
6
6
u n fr o m m a il a n d t e le g r a p h ic r e tu r n s , a r e a s fo llo w s :
1
T otal bales.
N E W Y O R K — T o L iv e r p o o l— D e c. 1 0 — A r a b ic , 1,294 u p la n d , 187
Sea Isla n d ___________________________________________________
1,481
To" M anchester— D e c. 1 5 — T in t o r e t to , 1 , 1 6 2 - . - ............... ..............
T o L o n d o n — D e c. 10— M innehaha, 4 0 0 --------------------------------------400
T o H a v r e — D e c. 11— C h ica g o , 3 ,0 5 1 ......................................................
T o N a p le s— D e c. 10— B erlin, 7 0 3 ------------------------------------------------- . , i*’ 3
G A L V E S T O N — T o L iv e r p o o l— D e c. 16— I n d o r e , 1 3 ,7 7 8 ----------------- J*L‘ ‘ 8
T o H a v r e — D e c. 16— M o n tro se , 1 0 ,5 4 4 .------------------------------------- JO.>>44
T o B rem en — D e c. 16— St. D u n sta n , 1 0 ,1 3 8 --------------------------------- 1
T o H a m b u rg — D e c. 15— V ic to r ia d e L a rrin a g a , 3 ,7 5 3 --------------3,753
N E W O R L E A N S — T o L iv e r p o o l— D e c. 13— A n tillia n , 4 , 5 6 8 . - D e c. 15— P a tricia n , 1 0 ,0 0 0 ........................... ........................................ 14,o6 8
T o L o n d o n — D e c. 17— T a m p ic a n , 2 ,1 0 0 . ----------------------------------2 ,1 0 0
T o G lasgow — D e c. 11— C ra lg e n d o ra n , 4 1 ............................................
41
T o B rem en — D e c. 17— M ich igan , 8 ,5 0 0 --------------------------------------T o A n tw e r p — D e c. 17— M ich igan , 2 0 0 --------------------------------- - —
2 00
S A V A N N A H — T o B rem en — D e c. 11— S te ln b e rg e r, 7,3 5 0 ;
h e rn le v , 5 0 3 . - D e c . 15— G resh a m , 7 ,0 1 2 --------------------------------------T o R e v a l— D e c. 11— S teln berger, 400; F e r n le y , 3 0 0 . . . - - - - - - 700
C H A R L E S T O N — T o B rem en — D e c. 11— S o u th A u stra lia , 1 2 ,2 5 0 .. 1 2 ,2 o0
N O R F O L K — T o R o t t e r d a m — D e c. 13— L u rista n , 2 5 . . . . . . - - - - B O S T O N — T o L iv e r p o o l— D e c. 13— Iv e r n la , 7 3 0 . - . D e c . 14— Canacllan 1 379
_________________________________ - _________________
J ,iio
T o Y a rm o u th — D e c' 7— B o s to n , 1 5 1 - . --------------------------------------151
B A L T I M O R E — T o L iv e r p o o l— D e c. 10— Q u e r n m o re . 2 ,o 0 3 ----------2 ’ 593
T o C o p e n h a g e n — D e c. 15— L o u is ia n a , 2 0 0 - - - - - - - - - - - - ----------200
P H I L A D E L P H I A — T o L iv e r p o o l— D e c. 10— F rle sla n d . o 8 9 ----------o80
T o M anch ester— D e c. 9 — M an ch ester T ra d e r, 1 ,1 5 6 ............. .........
J , lo 6
T o G en oa— D e c. 9— V e r o n a , 1 ,1 0 0 —
----------1 ’ 19?
S E A T T L E — T o J a p a n — D e c. 11— K n ig h t o f th e T h is tle , 8 0 0 ----------80b
T o ta l . .
..............................................................................- .............. - .1 0 6 ,9 6 6
C o t t o n f r e i g h t s a t* N e w Y o r k t h e p a s t w e e k h a v e b e e n a s
fo llo w s , q u o t a t io s b
’ e i’ n g i’ n c e n t s p e r 1 0 0 l b s .
S a t.
I
2 ,0 0 0
2 ,0 0 0
4 ,9 3 3 ,8 0 8
V isible s u p p ly D e c. 1 0 _________ 4 ,7 7 3 ,0 8 4
S H I P P I N G N E W S .— A s s h o w n o n a p r e v io u s p a g e , th e
e x p o r t s o f c o t t o n fr o m t h e U n it e d S ta te s t h e p a s t w e e k h a v e
r e a c h e d 1 0 6 ,9 6 6 b a l e s .
T h e s h i p m e n t s in d e t a i l, a s m a d e
1008.
1909.
O c to b e r l to D e c e m b e r 1 .
B a l e s o f 500 l b s . e a c h ,.
(0 0 0 s o m i t t e d . )
Bom bay—
1909_____
1908_____
1907____„
Calcutta—
1909 ___
1908_____
1907 ____
Madras—
1909.........
1908_____
1 9 0 7 .- ..
All others
1909_____
1908 ___
1907.........
W eek .
S ea son .
W eek .
S ea son .
1909.
For 1903.
T a k in gs b y spinners
------bales
A v era ge w eight o f b a le s ------ lbs.
T a k in gs in p o u n d s ---------- ---------
G reat
B r it a in .
1908.
1909.
Cotton Takings.
Week and Season.
E x p o rts
T o ta l.
G reat B r ita in .
1.
W ORLD’S SUPPLY AND TAKINGS OF COTTON.—
18 1008.
D ec.
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’ takings in
actual bales and pounds have been as follows:
_______
O cto b er
1009
THE CHRONICLE
i) E C . 1 8 1 9 0 9 .
1,000
5,000
M on .
T u es.
W ed.
T h u rs.
P ri.
14
14
14
14
14
14
L iv e r p o o l— D e c ____
12
12
12
12
12
12
M anchester— J a n ___
18
18
18
18
18
18
H a v r e — D e c ________
18
18
18
18
18
18
B re m e n — D e c _____
22%
22%
22%
22%
22 %
22%
H a m b u rg — D e c ____
20
20
20
20
20
20
A n tw e r p — D e c ------26
26
26
26
26
G h en t, v ia A n tw e rp . 26
25
25
25
25
25
25
R e v a l ----------------------34
34
34
34
34
G oth e n b u rg ----------34
*0
30
30
30
30
B a rc e lo n a ,d lre c tD e c
30
18
18
18
18
18
18
G en oa— D e c ________
28
28
28
28
28
28
T r i e s t e ..................—
45
45
45
45
45
45
J a p a n — D e c ________
L I V E R P O O L .— B y c a b le fr o m L iv e r p o o l w e h a v e th e fo l
lo w in g s t a t e m e n t o f t h e w e e k ’s s a le s , s t o c k s , & c . , a t t h a t p o r t :
&
N o v . 26.
D ec. 3.
D e c . 10.
D ec . 17.
Sales o f th e w e e k --------------- , - - 3 4 .0 0 0
37,0 0 0
58,000
46,0 0 0
O f w h ich sp e cu la to rs t o o k . .
1,000
-.0 0 0
6 ,0 0 0
3 ,0 0 0
O f w h ich e x p o rte rs t o o k ___
1.000
1,000
3 ,0 0 0
1,000
- - - 2 5 ,000
29,000
4 8 ,0 0 0
3 2 ,0 0 0
Sales A m e rica n
A c tu a l e x n o r t
I _______
7,0 0 0
15,000
7,0 0 0
10,000
F orw arded
- 7 0 ,000
107 ,000
61,0 0 0
60,000
T o ta l s t o c k — E stim ated
.8 4 0 ,0 0 0
0 4 8 ,0 0 0
1 ,0 0 0 ,0 0 0
1 ,0 4 8 .0 0 0
O f w h ich A m e rica n — Est
.7 6 3 ,0 0 0
8 6 2 ,0 0 0
010 ,000
9 4 7 .OpO
T o ta l Im ports o f th e w e e k .
__ 6 0 ,0 0 0
229 ,000
120 ,000
118,000
O f w h ich A m e r ic a n ________ 3 7 ,0 0 0
193,000
104 ,000
82,000
A m o u n t alloa t
__
- - - 4 1 0 ,0 0 0
2 64 ,000
255 ,000
102,000
O f w h ich A m e r ic a n ................. 3 5 1 ,0 0 0
205 ,0 0 0
187 .0 0 0
1 *9 ,9 0 0
1610
THE CHRONICLE
T h e to n e o f th e L iv e r p o o l m a r k e t f o r s p o ts a n d fu tu r e s
e a c h d a y o f t h e p a s t w e e k a n d t h e d a i l y c lo s in g p r ic e s o f
s p o t c o t t o n h a v e b e e n a s f o llo w s :
Spot.
Saturday.
Monday.
Tuesday.
Market, 1
12:15
1
P. M. J
M Id.U pl’ds
Quiet.
Dull.
Quiet.
8.26
8.11
8.14
8.01
8.06
8.03
Spec.&exp.
15,000
500
6.000
500
7.000
500
5,000
200
4,000
500
3,000
500
Futures.
Irreg. at
Market
1 4 @ 8 pts.
opened
/ advance.
Market
4
P. M.
Irreg. at
10@13
pts. dec.
] Firm at Barely st’ y
} S@ 19 pts. at 14 @ 2 2
J advance.
pts. dec.
Wednesday. Thursday.
Dull.
Dull.
Friday.
Dull.
Firm at
9 @ 1 2 pts.
advance.
Easy at
5 @ 8 pts.
advance.
Quiet at
2% © 3%
pts. adv.
Quiet at
6% @ 9%
pts. adv.
Steady at
5% @ 6%
pts. dec.
Steady at Barely st’ y
6% @ 8
at 6% @ 9
pts. adv.
pts. dec.
Easy at
7% @ 1 0 %
pts. dec.
T h e p r ic e s o f f u t u r e s a t L i v e r p o o l f o r e a c h d a y a r e g iv e n
b e lo w .
P r ic e s a r e o n t h e b a s is o f u p l a n d , g o o d
o r d in a r y
c la u s e , u n le s s o t h e r w is e s t a t e d .
The p rices are given in pen ce and 100ths. T h us, 8 05 m eans 8 05-100J.
S at.
D e c. 11
to
D ec. 17.
12 M
p .m .
12M
p.m .
d.
D ecem b er
D e c .-J a n .
J a n .- F e b .
F e b .-M ch .
M c h .-A p r.
A p r.-M a y
M ay-June
J u n e-J u ly
J u ly -A u g .
A u g .-S e p . : : : :
S e p t .-O c t .
O c t .-N o v .
8
8
8
8
8
8
8
8
8
7
7
7
6
d.
05%
05%
08
10
12%
13
14
13
11
78
26
06
98
M on .
T u e s.
W ed.
T h u rs.
Fri.
4 12K
12 H
4
12M
4
12K
4
4
12 H
p .m . p .m - p .m . p .m . p .m . p .m . p .m . p.m . p .m . p.m .
d.
90%
90%
93%
96
98%
99%
00%
99%
97%
06
14%
94%
80%
d.
83%
83%
86
89
92
93
93%
93
91%
62
12
92
84
d.
94
94
96%
99%
02%
03%
04%
03%
01%
70
18%
99
90
d.
90
90
93
96
99%
01 %
02%
01%
99%
71
19
99
91
d.
81
81
84
87
90%
92
93%
92%
90%
01 %
11
91%
83%
d.
83%
83%
86%
89%
93%
95
96 %
96
94
64%
13%
93%
85%
d.
88 %
86%
89%
93
96%
98%
00
99%
97%
68%
17 %
97%
89%
d.
90
90
93%
97
00%
02
04
03
01%
72%
20
00
92
d.
83%
83 %
87
90
93%
95%
97%
97
95%
67
14%
95
86%
d.
81%
81%
85
88
91%
93%
95%
95
93%
64%
13%
93%
85
BREADSTUFFS.
Friday, Dec.
17 1 9 0 9 .
P r ic e s f o r w h e a t f lo u r h a v e b e e n f ir m d e s p it e c o n t in u e d
s t a g n a t io n in t r a d e .
M i ll p r ic e s h a v e r is e n , o w in g t o t h e
a d v a n c e in w h e a t , a n d a r c n o w so h ig h a s t o m a k e n e w
b u s in e s s a lm o s t im p o s s ib le .
T h e t r a d e in t h e S o u t h w e s t a n d
a t C h ic a g o h as_ b e e n d u l l.
A t t h e N o r t h w e s t b u s in e s s h a s
b e e n f a ir ly a c t iv e , p a r t ly fo r e x p o r t ,
lt y e f lo u r a n d c o rn
m e a l h a v e b e e n q u ie t a n d fir m .
W h e a t h a s a d v a n c e d h e re a n d a t th e W e s t 3 to 5 c e n ts,
o w in g la r g e ly to th e s t r e n g t h o f th e c a s h s it u a t io n e v e r y
w h e re .
T h is
is p r e d i c a t e d
on
li g h t r e c e ip t s , d e c r e a s in g
s t o c k s a n d r e d u c e d A r g e n t in e c r o p e s t im a t e s .
M o re o v e r,
a l t h o u g h t h e r e is n o e x p o r t d e m a n d , t h e d o m e s t i c a b s o r p t i o n
is p l a i n l y s u f f i c i e n t t o m a i n t a i n t h e c a s h p r e m i u m s .
The
N o r t h w e s t e r n s w it c h m e n ’s s t r ik e c o n t in u e s , a n d d o u b t le s s
t h e d e c r e a s e d m o v e m e n t o f t h e c r o p is , t h e r e f o r e , in a s e n s e
a r t if ic ia l.
H e a v y s t o r m s a t t h e W e s t h a v e a ls o a t t im e s
im p e d e d t h e m o v e m e n t o f t h e c r o p .
T h e r e h a v e b e e n a c t iv e
a n d o c c a s io n a lly e x c it e d
m a r k e t s a t t h e b ig s p e c u la t iv e
c e n tre s o f th e W e s t a n d th e N o rth w e s t.
A r is e in t h e E u r o
p e a n m a r k e t s h a s a ls o b e e n a n o t e w o r t h y f a c t o r in t h e
advance.
T h e w o r ld ’s s h ip m e n t s h a v e s h o w n a n o t e w o r t h y
f a llin g o f f in c o m p a r is o n w it h r e c e n t w e e k s .
T h e v is ib le
s u p p ly in t h is c o u n t r y e x h ib it e d a la r g e r d e c r e a s e t h a n m a n y
o f t h e b u l ls h a d e x p e c t e d , b e in g o v e r a m il lio n b u s h e ls m o r e
t h a n in t h e p r e v io u s w e e k , a n d s h o w in g a f a r g r e a t e r d e c r e a s e
t h a n t h is a s c o m p a r e d w it h th e s a m e w e e k la s t y e a r .
L a te r
in t h e w e e k t h e u s u a l s t a t is t ic s o f t h e a v a il a b le w o r l d ’ s s u p p ly
w e r e lik e w is e u n m is t a k a b ly b u llis h .
T h e y s h o w e d a d e c re a se
o f c lo s e t o 7 ,0 0 0 , 0 0 0 b u s h e ls a s c o m p a r e d w it h a n a c t u a l
in c r e a s e in t h e p r e v io u s w e e k o f a l i t t l e o v e r 5 , 0 0 0 , 0 0 0 b u s h e ls
a n d a d e c re a s e fo r th e s a m e w e e k la s t y e a r o f 3 ,2 0 0 ,0 0 0
b u s h e ls .
On
th e
o th e r
hand,
th e G o v e rn m e n t
re p o rt
is s u e d
on
th e
1 5 th
in s t .
w as
n a t u r a lly
c o n s tru e d
as
b e a r is h .
I t g a v e th e
w in t e r - w h e a t
c r o p a t 4 4 6 ,3 6 6 ,0 0 0
b u s h e ls , a g a in s t 4 3 7 , 9 0 8 , 0 0 0 la s t y e a r a n d 4 0 9 ,4 4 2 , 0 0 0 t w o
y e a rs a g o .
T h e s p r in g - w h e a t y ie ld w a s s t a t e d a t 2 9 0 ,8 2 3 ,
0 0 0 , a g a in s t 2 2 6 ,6 9 4 ,0 0 0 la s t y e a r a n d 2 2 4 ,6 4 5 ,0 0 0 t h e y e a r
b e fo re .
T h is g a v e p r ic e s a t e m p o r a r y s e t b a c k .
T h e M is
s o u r i S t a t e r e p o r t p u t th e c o n d it io n a s 9 3 % , a g a in s t 7 9 %
a year ago.
A s a lr e a d y in t i m a t e d , e x p o r t t r a d e h a s b e e n in
abeyance.
S o m e , t o o , c o n s id e r t h a t p r e s e n t p r ic e s a r e u n
w a r r a n t a b ly h ig h , w it h t h e w o r ld ’s c r o p s s e v e r a l h u n d r e d
m il lio n b u s h e ls la r g e r t h a n t h o s e o f la s t y e a r .
I t is lik e w is e
b e lie v e d t h a t in v i s i b l e s u p p l ie s in t h i s c o u n t r y a r e a ls o la r g e ,
t o s a y n o t h i n g o f w h a t is p l a i n t o b e s e e n .
T o - d a y p r ic e s
a d v a n c e d o n a c a b le p u t t i n g t h e A r g e n t in e e x p o r t a b le s u r
p lu s a t o n ly 7 4 , 0 0 0 , 0 0 0 b u s h e ls , a s h a r p a d v a n c e in p r ic e s
a t B u e n o s A y r e s , s t r o n g L i v e r p o o l c a b le s , c o m p a r a t iv e l y
li g h t r e c e ip t s , f ir m c a s h m a r k e t s a n d g e n e r a l b u y in g .
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN N E W Y O R K .
..
„
,
S a t. M o n . T u es. W ed . Th urs. F r i.
1 2 6 % 1 2 6 % 1 2 0 % 125 %
120
N o . 2 red w in ter, f .o b ___________ 120
D ecem b er deliv ery In e le v a t o r ____ 121 % 1 2 2 % 1 2 2 % 122
123 %
124
M ay d e liv ery in e le v a t o r _________ .1 1 5 % 117 % 117 % 117
118% 111)
D A I L Y C L O S IN G P R I C E S O F W H E A T F U T U R E S IN
_
,
.
S a t. M o n . T u es. W ed.
D e ce m b e r d eliv ery In e le v a t o r ____ 1 0 9 % 11314 113
11214
M ay d e liv e ry In e le v a t o r -----------------109
111 % 110 % 1 10 %
J u ly d e liv e ry In e le v a to r -----------------9 8 % 1 0 0 %
99%
99%
CHICAGO.
T h urs. F r i.
1 1 4 % 116 :
1 11 % 112:
1 0 0 % 102
I n d ia n c o r n f u t u r e s h e re h a v e b e e n n o m in a l.
A t th e W es
t h e m a r k e t h a s b e e n a c t iv e a n d e x c it e d a t a n a d v a n c e .
Th
[ V O L . L X X X IX ,
p r in c ip a l b u llis h f a c t o r s h a v e b e e n p e r s is t e n t r e p o r t s t h a t th e
c o n d i t i o n o f c o r n i n s o m e o f t h e p r i n c i p a l S t a t e s is v e r y p o o r ,
o w in g to w e t a n d m ild w e a t h e r d u r in g N o v e m b e r a n d r e
d u c e d c r o p e s t im a t e s f r o m
v a r io u s s o u r c e s .
These have
c a u s e d v e r y h e a v y b u y in g b y c o m m is s io n h o u s e s a n d s h o r t s .
A t t im e s r e a c t io n s h a v e o c c u r r e d o n r e a liz in g .
T h e re h as
a ls o b e e n c o n s id e r a b le s e llin g f o r s h o r t a c c o u n t b y c a s h i n
t e r e s t s a n d o t h e r s o n b e t t e r w e a t h e r o f la t e , p r e d ic t io n s o f
la r g e r r e c e ip t s a n d a r e p o r t b y t h e G o v e r n m e n t p u t t in g t h e
y ie l d a t 2 , 7 7 2 , 3 7 6 , 0 0 0 b u s h e ls , a g a in s t 2 ,6 6 8 , 6 5 1 , 0 0 0 la s t
y e a r a n d 2 ,5 9 2 ,3 2 0 ,0 0 0 tw o y e a r s a g o .
T o - d a y p r ic e s a t
th e W e s t a d v a n c e d e a r ly o n t h e s t r e n g t h o f w h e a t , c o m m is
s io n - h o u s e b u y in g a n d c o v e r in g o f s h o r t s .
L a te r o n , m o re
f a v o r a b le w e a t h e r , a d e c lin e in c a s h p r ic e s , s e llin g b y c a s h
in t e r e s t s a n d li q u i d a t io n c a u s e d a s e t b a c k .
D A I L Y C L O S IN G P R I C E S O F N O . 2 M I X E D
Sat. M o n .
Cash c o r n _____________________________ .72
72%
D ece m b e r d e liv e ry In e le v a t o r , I
70 ‘4
71 %
M ay d e liv e ry In e le v a t o r ____________ 7 1 %
72
* N ew .
C O R N I N N E W YO R K .
T u es. W ed . Th urs. F r i .
72
*70% *70%
71 %
71 %
71 %
71 %
73%
73%
73%
73%
D A I L Y C L O S IN G P R I C E S O F C O R N F U T U R E S
Sat. M o n . Tu es.
D e ce m b e r d e liv e ry In e le v a to r ______. 6 0 %
64 %
62%
M ay d e liv e ry In e le v a t o r ____________ .64 %
67
60 %
J u ly d e liv e ry In e le v a to r ____________ . 6 4 %
66% 6 5 %
IN CHIC AGO.
W ed . Thurs. F r i .
61 %
61 %
61 %
65 %
60
65%
65%
65%
O a t s f o r f u t u r e d e liv e r y in th e W e s t e r n m a r k e t h a v e a d
v a n c e d , o w in g t o t h e r is e in w h e a t a n d c o r n , li g h t r e c e ip t s ,
a n in c r e a s e d c a s h d e m a n d a t f ir m e r p r ic e s , c o m m is s io n - h o u s e
b u y in g a n d c o v e r in g o f s h o r t s .
A t t im e s r e a c t io n s h a v e o c
c u r r e d o n r e a liz in g a n d s e llin g b y c a s h in t e r e s t s .
The G ov
e r n m e n t s t a t e d t h e y i e l d a t 1 , 0 0 7 , 3 5 3 , 0 0 0 b u s h e ls , a g a i n s t
8 0 7 ,1 5 6 ,0 0 0
la s t y e a r a n d 7 5 4 ,4 4 3 ,0 0 0 tw o y e a r s a g o .
B e a rs
a r e b a n k in g o n m u c h
la r g e r r e c e ip t s w h e n f a r m e r s a r e
t h r o u g h h u s k in g c o rn .
T o - d a y p r ic e s a d v a n c e d e a r l y o n t h e
r is e in w h e a t a n d c o m m is s io n - h o u s e b u y in g , b u t r e a c t e d la t e r
o n t h e d e c lin e in c o r n a n d liq u id a t io n .
D A I L Y C L O S IN G P R I C E S O F
S a t.
N atural w h it e __________________ 40 % -48 %
W h ite c lip p e d __________________ 4 7 % -5 1 %
D A IL Y
OATS
M on.
4748-
IN N E W YO R K .
T u es. W ed. T h urs. F r i.
4 7 - 50 4 7 - 50
50 47-50
4 8 - 52 4 8 - 52
52 48-52
C L O S IN G P R I C E S O F O A T S F U T U R E S
M o n . T u es.
44%
43 %
45 %
44 %
43
42%
D e ce m b e r d e liv e ry In e le v a t o r ______ 43 %
M ay d e liv e ry In e le v a t o r ____________ 4 4 %
J u ly d e liv e ry In e le v a t o r ____________ 4 2 %
T h e f o llo w in g a r e
IN C HIC AGO .
W ed. T h urs. F r i .
43 % 43 %
43 %
44 % 44 %
44 %
42%
42%
42%
c lo s in g q u o t a t io n s :
W in te r, lo w (trades____ $4
W in te r p a te n ts __________ 5
W in te r s tra ig h ts ________ 5
W in te r c le a rs .................... 5
S p rin g p a te n ts __________ 5
S p rin g s tra ig h ts ________ 5
S p rin g clea rs------------------- 4
FLOUR.
4 0 @ J 4 60 K ansas s tra igh ts, s a ck
J5 2 5 (
6 0 @ 5 90 K ansas clears, s a c k s ___ 4 5 0 (j
3 5 @ 5 00 C ity p a te n ts_____________ 0 7 5 (
0 0 @ 5 25 R y e flo u r__________________ 4 15(
4 0 @ 5 90 G raham H our___________ 4 5 0 <L
0 0 ® 5 30 C orn m e a l, kiln d r ie d _____ 3 1 5 ®
5 0 ® 4 75
G R A IN .
W h e a t, p er bu sh el—
C o m , p e r bu sh el—
C en ts,
N . D u lu th , N o . 1__________ 5 1 .2 0 %
70 %
N o . 2 m ix e d _______.e le v .
N . D u lu th , N o . 2 . . ............ 1 .2 4 %
N o . 2 y e l l o w _____ .1 .0 .b . N o m in a l
R e d w in te r, N o . 2 _ . . f . o . b , 1 .2 6 %
N o . 2 w h i t e _______. f . o .b . N om in al
H ard w in te r, N o . 2 ................ 1 .2 7 % R y e , p er bushel—
O a ts, p er bushel—
C en ts.
N o . 2 W e s te rn ____ f.O .b .
79
N atural w h ite _________ 47
@ 52
S ta te an d J e r s e y ...
N om in al
W h ito c lip p e d .................48
@52
B a rle y — M a ltin g ____ .
70
@ 75
M ix e d __________________ 4 6 %
F e e d in g , c .l.f..N .Y ,.
63
@ 65
I h e s ta te m e n ts o f th e m o v e m e n t o f b re a d s tu ffs to m a rk e t
in d ic a t e d b e lo w a r e p r e p a r e d b y u s f r o m fig u r e s c o lle c t e d b y
th e N e w Y o r k P ro d u c e E x c h a n g e .
T h e r e c e ip t s a t W e s t e r n
la k e a n d r iv e r p o r t s f o r t h e w e e k e n d in g la s t S a t u r d a y a n d
s in c e A u g u s t 1 f o r e a c h o f t h e la s t t h r e e y e a r s h a v e b e e n :
Receipts at—
Flour.
Wheat.
Corn.
Oats.
Harley.
Rye.
bbls,196lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. 6 m.56 lbs.
C h ica g o ____
105,134
2,068,750
1,045,800
613.000
382,633
36,000
M ilw aukee..
75,775
81,400
147.000
99.000
215,800
13,940
D uluth.........
20,000
857,609
35,558
351,672 ' 3,297
Minneapolis.
54,260
18,240
71,760
731,480
19,310
T o le d o _____
30.000
117,800
116.000
60,106
6,458
115,844
38,033
Cleveland . .
88,108
803
0,553
273.270
5,852
264.000
St. Louts___
637,375
45,150
73.300
184.582
6,000
124,800
71,600
267,124
19.000
30.300
2,200
42.000
Kansas City.
85,800
142,550
T o t.w k .’OO
Same wk. ’08
Same wk. ’07
2,807.106
3,963,670
6,134,003
3,665,603
4,671,660
3.948.522
Since Aug. 1
1909......... 9,189,653 146,842,467
1908......... 9,295,090 145,150,243
1907......... 7,633,204 115,370,411
58,481,688
40,834,307
72,287.505
324,920
309,488
284,413
1,891,632
2,480,477
3,503,062
1,138,018
1,492,749
1,526,659
SO,747
114,765
167,969
77.838.515 40,151,877 3,802,589
77,433,690 46,813,880 3,702,749
89.894.515 35,812,087 3,808.193
T o t a l r e c e ip t s o f f lo u r a n d g r a in a t t h e s e a b o a r d p o r t s f o r
t h e w e e k e n d e d D e c . 11 1 9 0 9 f o l l o w :
Harley,
Flour,
Oats,
Wheat,
Corn,
Rye,
Receipts at—
bush.
bbls.
bush.
bush.
bush.
bush.
Now Y o r k ______- - 167,115
405.650
613.200
268,875
59,925
B o s to n _________ - .
83,674
52,419
108,976
343,626
Portland, Mo___ . .
3,000
227,000
Philadelphia . . . .
90,104
66,857
626,069
66,062
If. 600
B a ltim ore.. . . . .
649,533
27,687
74,337
244,835
5,491
R ic h m o n d _____ -22,622
3,248
18,790
14,212
714
New Orleans * . . . .
44S.700
18,243
56,600
68,100
Newport N e w s.. -1,724
............
.........
..........
Galveston...........
138,000
105,000
M obile......... ........
26,424
4,576
Montreal......... .. - 10|538
435,583
94,115
8,850
30,779
St. John.............
246,000
H alifax..............I. .....................
48,000
Total week___ . . 422,700 2,964,703
Week 1908_____ -- 416,348 2,447,923
Since Jan. 1 1909 .16,633.855 94.917.144
Since Jan. 1 1908..17,618,744 114268,629
1,729,192
788,118
90,704
16,655
1,812.381
738,995 255,848
76,955
0,251,189 42,035,075 7145,935 1090,824
9,163,794 41,568,284 0363,509 2706,599
* Receipts do not Include grain passing through New Orleans for foreign ports on
through bills of lading!
......_
47-50
48-52
1611
THE CHRONICLE
D e o . 18 19u».]
mestic cottons in an effort to bring prices up to the level
of the present cost of the staple, as selling agents now
appear to be more convinced than ever that higher prices
P ea s, E a rley,
R y e,
Oats,
F lou r,
C orn ,
W heal,
bush.
bush.
bush.
bush.
bbls.
bush.
must be secured for finished goods than have recently
E xp orts fro m —
bush.
.........
2,412
2,235
10,370 82,989
Now Y o r k ............ 855,690
prevailed; in other words, mills must be protected against
3,000
Portland, M e____ 227,000
23,012 40,758
loss on goods to be made. Sellers generally, however,
B o s t o n ......... ......... 448,307
1,100 19,000
P h iladelphia____ 417,000
have not been disposed to mark up prices in a way that might
279,271 34,128
Baltim ore_______
55,685
25", 000
230.000 20,000
restrict demand and have not tried to force buyers into the
New O rleans____ 134,000
1,724
Newport News------------market. Most buyers, on the other hand, although more
1,821
2 l’4",666
G alveston............72,000
4,570
freely admitting that manufacturers are justified in de
7,390
20,424
Mobile —
----
17,829
St. John, N. B „ ....240,000
manding higher prices, have been proceeding very cau
H alifax..................
48,000
tiously in making commitments for the future; their supplies
.........
2,652
32,411
.
Total week -.2,503,742
790,783 228,639
of merchandise are reported quite sufficient in most cases
8,522
19,604
. ____ 36,493
W eek 1908. - JI -2 ,3 9 8 .9 0 9 1,688,281 333,233
for present needs, and they evidently prefer to await de
week
and
since
exports
for
the
T h e destination of these
velopments in distribution at the advanced levels before
July 1 1909 is as below:
undertaking fresh obligations. In certain quarters some
-C o rn -W h ea tlarge users of goods have displayed greater confidence in
S ince
S ince
S in ce
J u ly 1
W eek
J u ly 1
the future and have been covering prospective requirements
J u ly 1
W eek
W eek
1909.
D ec. 11.
1909.
D ec. 11.
1909.
Exports fo r week and D ec. 11.
to a moderate extent; this applies particularly to converters
bush.
bush.
bush.
bush.
bbls.
sin ce J u ly 1 to —
bbls.
and printers, who are apparently satisfied that present values
227,428 1,800,714
United K ingdom — 97,794 ,535,034 1,456,105 28,672,331
2,199,780
412,286
959,841 1,040,137 17,880,181
C on tinent................- 66,980
are likely to hold. There has been a steady charging up
220,797
80,400
202,934
392,749
7,500
Sou. & Cent. A m er. 22,122
of goods held at value, the prices named being on a parity
904,883
62,184
1,675
635,949
West Indies_________41,324
29,991
7,269
73,523
Brit. N o. Am. Cols.
303
with the present cost of cotton, but new business on the
14,741
1,216
68,955
82,304
Other Countries-----116
whole has been rather light. The week brought little, if
T ota l......................228,639 4,679,400 2,503,742 46,826,070
790.783 5,170,906
any, improvement in demand from jobbers, and not much
Total 1908________ 333,233 5,283,934 2,398,969 70,674,809 1,688,281 7,134,044
is expected until annual stock-taking, now in progress in
T h e w orld's shipm ents of w heat and corn for the week most jobbing houses, is completed.
It is noteworthy that
ending D ec. 11 1909 and since July 1 1909 and 1908 are many New England mills are now running on a 50-hour
schedule, although the new laws in some of the States,
which provide for this schedule, will not take effect until the
C
orn.
W heat.
first of the year; there will also be an extensive curtailment
1908.
among New England and Southern mills around the holi
1908..
1909.
1909.
E xp orts.
days, some large plants having arranged to shut down for
S ince
Since
W eek | S ince
S ince
W eek
two weeks. So far not much attention seems to have been
J u ly 1.
J u ly 1.
D ec. 11.
J u ly 1.
J u ly 1.
D ec. 11.
given by buyers to the curtailment of production already in
E ushcls.
E ushels.
Bushels.
B ushels.
Eushcls.
Eushcls.
force, with prospects of further restriction of output unless
7,060,400
5,242,000
North Amer. 3.902.000 75.409.000 102,731,700 886.000
7,025,500
7,728,000
there is a better response to the higher prices which mills
R u ssian ------ 4.592.000 114,488,000 35.312.000 578.000
10.059.500
706.000
9.170,000
22.200.000
10.472.000
264.000
Danublan —
are forced to ask. Reports indicate that holiday trade has
136.000 13.768.000 28,211,000 952.000 53,657,000 41.061.500
Argentine —
7.456.000
4,980,000
been exceptionally active, and it is considered significant that
128,000
Australian—
24.720.000
7.266.000
432,000
Oth. countr’s
not a few large retail houses have requested immediate ship
ment of goods ordered for delivery in January. In dress
T o t a l ------ 9,454,000 243,837,000 203,176,700 3,122,000 75,797,000 65,206,900
goods, trade is seasonably quiet. In the men’s wear market
the feature has been the opening of some lines of fancy
1 U O V| U t l l l l O l V J V i H
w
overcoatings for fall 1910, at advances ranging from 5 to 10%
mentioned was as follows:
above last year’s.
C orn.
W heat.
DOMESTIC COTTON GOODS.— The exports of cotton
United
United
goods from this port for the week ending Dec. 11 were 3,476
T otal.
T otal.
K in g d om . C ontinent.
K in g d om . Con tinent.
packages, valued at $221,876, their destination being to the
Bushels.
Eushels.
B ushels.
B ushels.
Eushcls.
Eushcls.
points specified in the tables below:
15.520.000 11,600,000 27.120.000 4.080.000 6.460.000 10.540.000
T h e exports from the several seaboard ports for the week
ending D ec. 11 1909 arc shown in the annexed statem ent:
Dec. 11 1 9 0 9 D ec. 4 190 9-. 16.400.000 12,640,000 29.040.000
D ec. 12 1 9 0 8 - 15.920.000 8.560.000 24.480.000
Dec. 14 1907- - 16.480.000 9.440.000 25.920.000
3.910.000
5.780.000
3.920.000
5.865.000 9.775.000
5.355.000 11.135.000
4.680.000 8.600.000
T h e visible supply of grain, comprising the stocks in
granary a t principal points of accum ulation a t lake and
seaboard ports D ec. 11 1909, was as follows:
AM ERICAN G R A IN STOCKS.
W heat,
bush.
New Y ork ........ ............. 1,507,000
••
afloat_______
95,000
B o s to n ..............- ............
538,000
P h iladelph ia....... ........... 1,000,000
Baltim ore......... ...............
848,000
88,000
New O rleans................G alveston_____________
216,000
3,901,000
B u ffa lo.........................
T o l e d o _________
934,000
“
afloat_______
104,000
D e tro it.............................
055,000
Chicago............... - ...........2 ,M o'nno
M ilwaukee......................
n ia ’non
D u lu th ________ — - - 058,000
Minneapolis ...................... 2,906,000
St. L o u is ........................
Kansas C it y .- .................. 2.881,000
Peoria______ - _________
4,000
Indianapolis___________
364,000
On Lakes_____________ 0,266,000
C orn,
bush.
Oats,
bush.
269,000
1,296,000
374.000
364.000
41,000
848.000
816.000
447.000
596.000
101.000
46,000
284.000
182.000
Rye,
E a rley,
bush.
7.000
283,000
9.000
1.000
bush.
" l",666
1.000
166,000
1,000
1,122:600
188.000
174,000
37,000
1,361.000
1,000
4,000
199.000
274.000
04,000
253.000
425.000
133.000
3.508.000
605.000
695.000
1.285.000
350.000
750.000
1.079.000
228.000
103,000
76.000
70.000
45.000
8,000
274,000
8,000
41.000
288,000
816,000
73.000
56,000
756.000
5.663.000
4.206.000
4.542.000
51,388,000
CAN AD IAN G R A IN
12,228,000
13 580,000
9,188,000
STOCKS.
923.000
912.000
1,113,000
3.631.000
4.058.000
6.111.000
Oats,
bush.
R y e,
bush.
170.000
757.000
35,000
.28,400,000
.31,086,000
W heat,
bush.
C orn,
bush.
.
481,000
. 2,458,000
1,135,000
. 6,010,000
40,000
.10,084,000
.10,393,000
. 3,744,000
40,000
64,000
26,000
SU M M ARY.
1,000
B a rley,
bush.
592,000
150,000
592,000
758,000
226,000
150,000
147,000
78,000
W heal,
bush.
C orn ,
bush.
O ats.
bush.
R y e,
bush.
.28,400,000
.10,084.000
5,663,000
40,000
12,228,000
592,000
923,000
3,631.000
150,000
38,484,000
.41,479,000
.55,132,000
.45.468,000
5,703,000
4,270,000
4,567,000
2,762,000
12,820,000
14,338,000
9,414.000
7,259,000
923,000
912,000
1,113,000
868.000
3.7S1.000
4,205,000
6,189,000
5,830,000
E arley,
bush.
T H E DRY GOODS T R AD E .
New York, Friday Night, Dec. 17 1909.
W h ile trading has been of moderate proportions, the cotton
goods m arket has displayed a decidedly stronger tone, at
tributed chiefly to the G overnm ent’s cotton report on Fri
day last estim ating the crop at only 1 0 ,0 8 8 ,0 0 0 bales, and to
the sustained strength of raw m aterial.
A dvances have
been announced during the week on| ticketed bleached good s,
and similar advances are being m ade on other lines of d o
----------1909---------S in ce
J a n .l .
1,981
1,078
109 ,644
16,524
2 5 ,3 7 0
15,497
3 8 ,6 6 9
1,674
13,394
52,064
22,4 7 6
N ew Y ork to D ec . 11.
W eek .
164
G reat B r ita in .......................- ............................
O th e r E u ro p e _________________________ __________
C h in a _______________________________________
...
I n d i a .......................
250
A r a b ia ______________________________________ - - A f r i c a _____________________________________
63
W e s t I n d ie s _______________________________ 657
M e x ic o _____________________________________
39
C en tral A m e r ic a _______ __________________ 186
S ou th A m e r ic a _____________________________1,316
O th er c o u n tr ie s ___________________________ 801
T o t a l ............................. - ............- ...................3 ,4 7 6
358 ,371
----------1 908--------S in ce
W eek . J a n . 1.
0
857
38
1,493
...
21,638
1,103
13,984
4,4 6 3
32,778
532
9,991
1,009
27,9 4 9
105
1,686
325
14,871
859
3 9 ,4 2 9
706
21,5 6 9
9,1 4 0
186 ,245
The value of these New York exports since Jan. 1 has been
$19,724,903 in 1909, against SI 1,509,071 in 1908.
Ticketed bleached goods have been advanced }4c. a yard,
and an upward tendency is noted in other domestics, espec
ially denims and colored cottons used by the manufactur
ing trades. Wash fabrics and printed goods have ruled firm,
with demand, however, only moderate; further advances on
additional orders for spring are quite generally expected.
Ginghams and staple prints are strong and in good request,
especially the former. Jobbers report fairly large sales of
blankets and napped goods. Export trade has continued
very quite with the Far East, and business with miscellaneeous ports has been small. In print cloths a steady demand
has come forward; prices remain unchanged.
WOOLEN GOODS.— The men’s wear market has not
displayed much activity; as already noted, lines of fancy
overcoatings for the fall season of 1910 have been opened
at advances over a year ago; in some quarters initial sales so
far arc reported as satisfactory, but most buyers are holding
off pending further developments and the opening of addi
tional lines. Urgent requests have been received for fancy
overcoatings for the current season, but available supplies
are said to be small. Trade in spring lines of men’s wear is
quiet at the moment and is expected to continue so until
after the turn of the year. Outside of a free application
by the cutting trade on goods for next spring, notably diag
onals, serges and panamas, business in dress goods has been
quiet. Interest still centres largely in new lines for next
fall, which in most cases will not be opened until after
Jan. 1.
FOREIGN D R Y GOODS.— A fair demand has been in
evidence for imported woolen and worsted goods for future
requirements. The call for linens, especially for all kinds
of housekeeping goods, has been well maintained; the market
generally is very strong, with talk of further advances on
additional orders, owing to reports of shortage in flax crops.
Burlaps have continued dull and unchanged, with no im
provement in the demand looked for until after the holi
days.
1612
6W £
THE CHRONICLE
mu ®
C ity B £ ;p / ^ t m £WT,
News Stems.
New York State.—
O ffic ia l V o te o n C a n a l B o n d R e fe r e n d u m
a n d C o n s t i t u t i o n a l A m e n d m e n t s . — On Dec. 15 the State Board
of Canvassers signed the returns prepared by the Secretary
of State of the vote at the last general election on the propo
sition to issue $7,000,000 Cayuga and Seneca canals bonds
and the four proposed constitutional amendments. The
vote in the entire State was as follows:
A m endm ent N o . 1 Increasin g th e co m p e n s a tio n ot u p -S ta te Ju stices o f the
S u p rem e C o u rt. T o ta l v o t e ca s t, 1 ,0 2 0 ,0 0 0 ; “ f o r , ” 278,-1X5; “ a g a in s t,”
219 ,5 7 6 ; b la n k , 4 9 0 ,7 6 6 ; v o i d , 1,243; m a jo r it y “ f o r , ” 2 8,839.
A m endm ent N o . 2 p e r m ittin g th e L e gisla tu re to a lte r the ra te o f Interest
on d eb ts w h ich h a v e been o r m a y be a u th o r iz e d u n d e r S e ctio n 4 o f A r tic le 7
o f th e C o n s titu tio n . T o ta l v o t e ca s t, 1 ,0 0 6 ,2 5 4 ; “ f o r , ” 279 ,352 ; " a g a in s t ,”
2 16 ,541 ; bla n k , 5 09 ,118 ; v o id , 1,243; m a jo r it y “ f o r , ” 6 2 ,8 1 1 .
A m en d m en t N o . 3 r e la tin g t o th e po w e rs o f th e h o a rd s o f su p ervisors and
c o u n t y a u d itors o r o th e r fiscal o ffic e r s .
T o ta l v o t e ca s t, 1,00 0 ,8 6 5 ; “ f o r , ”
2 53 ,774 ; “ a g a in s t ,” 2 23 ,331 ; b la n k , 522,517; v o id , 1,243; m a jo r ity “ f o r , ”
3 0 ,4 4 3 .
A m en d m en t N o . 4 a llow in g th e e x c lu s io n , In figu ring th e b o r r o w in g
c a p a c it y , o f b on d s issu ed f o r ra p id transit an d d o c k p u rposes b y N ew Y o r k
C ity an d w a te r b on d s issued b y th ird -class c itie s . T o ta l v o t e ca s t, 1,0 0 0 ,
370: “ f o r , ” 2 90 ,792 ; " a g a in s t ,” 2 07 ,781 ; b la n k , 5 00 ,554 ; v o id , 1,243;
m a jo r it y “ f o r , ” 8 3 ,0 1 1 .
C anal B o n d s P rop osition p r o v id in g fo r the issu an ce o f $ 7 ,0 0 0 ,0 0 0 b o n d s
fo r the Im p ro v e m e n t o f th e C a yu ga an d S e n e ca ca n a ls. T o ta l v o t e ca s t,
1 ,0 1 6 ,1 1 9 ; “ f o r , ” 285 ,515 ; " a g a in s t ,” 216 ,4 1 8 ; b la n k , 5 1 2 ,9 5 3 ; v o id ,
1 ,2 3 3 ; m a jo r it y " t o r , " 6 9 ,0 9 7 .
“ T o r r e n s ” L a n d T it l e R e g i s tr a t io n L a w U p h e l d . — The con
stitutionality of the law which went into effect Feb. 1 1909
providing for the registration of titles to real estate has been
upheld by the Appellate Division of the Supreme Court in
Brooklyn. The suit was brought by Thomas F . Duffy upon
objection being made to his application for registration of the
title to property purchased by h im .
Bond Proposals and Negotiations this week
&&ve been as follows 2
Albany, N . Y . — B o n d S a l e . — On Dec. 15 the $200,000 4 %
20-year registered water-improvement bonds described in
V . 89, p. 1553, were sold to W . N . Coler & Co. of New York
City at 101.075 and accrued interest— a basis of abouc
3 .9 2 3 % .
A list of the bids received follows:
VV. N . C oler & C o ., N . Y ____ 101.075
YVadsw orth & W r ig h t, N . Y . 101.01
A . B . L ea ch & C o ., N . Y ____ 100.899
N . VV. H alsey & C o ., N . Y . . 1 00.819
B lo d g e t, M erritt & C o .. N .Y _ 100.577
II. L . D a y & C o ., N . Y _____ 100.555
N . W . H arris & C o ., N . Y - . .1 0 0 .4 2 4
F s ta b r o o k & C o ., N ew Y o r k . 100.39
N ation a l C o p p e r B k ., N . Y . . 100.39
C h ish olm & C h a p m a n . N ew
Y o r k ...................... ............. 1 0 0 .1 8 7 6 3 5
K o u n tz c B r o s ., N ew Y o r k . . 100.071
A lb a n y T ru s t C o ., A lb a n y ___ 100 .025
F irst N ation a l B a n k , A l b a n y .100
F a st Side S a v . B a n k , R o c h
e ste r ( $ 1 0 0 , 0 0 0 ) ____________100 .1 2
U n ion T ru s t C o .
(A lb a n y
( $ 1 0 0 ,0 0 0 ) _______________100.01250
( $ 2 0 ,0 0 0 .-1 0 1 .0 0
B in g h a m to n
Sav.
2 0 ,0 0 0 ..1 0 0 .8 2
B k ., B ln g h a m t’ n 2 0 ,0 0 0 ..1 0 0 .7 2
l 2 0 .0 0 0 ..1 0 0 .6 2
Anderson School City (P. 0 . Anderson), In d .— B o n d S a l e .
— The $75,000 bonds mentioned in V . 89, p. 945, have been
disposed of as 3.65s.
Ashland, Ore.— B o n d s O f fe r e d b y B a n k e r s . — Of a total
issue of $50,000 5 % refunding water bonds, $23,000 are
being offered to investors by E . H . Rollins & Sons of Chicago.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te J u ly 1 1909.
In te re st s e m i-a n n u a lly a t
the C ity T rea su rer's o ffic e in A s h la n d . T h e to ta l Issue m atu res o n J u ly 1
as fo llo w s : $5,0 0 0 y e a r ly fro m 1913 to 1916 Inclu sive a n d $ 30 ,000 In 1929;
the $ 30 ,000 m a tu rin g In 1929 b e in g s u b je c t to call a ft e r 1919.
Baltimore, M d.— B o n d s N o t to be I s s u e d U n t i l S p r i n g . — W e
are informed that it is not likely that the $1,000,000 dock
loan voted on N ov. 2 (V . 89, p. 1294) will be issued until late
next spring.
Baraga School District (P. 0 . Baraga), Baraga County,
Mich.'— B o n d S a l e . — The $28,000 registered school-house
bonds offered on July 17 and described in Y . 89, p. 58, have
been disposed of to the Thos. J. Bolger Co. of Chicago. Ma
turity $2,000 yearly on Jan. 1 from 1911 to 1924 inclusive.
Bartlesville, Washington County, Okla.— B i d s R e f e c t e d .—
All bids received for the $40,000 city-hall-and the $20,000 fire
equipment 5 % 20-year bonds offered on Dec. 6 (V . 89, p.
1438), were rejected.
Batesville, Panola County,^Miss.— B o n d s D e f e a t e d . — The
voters of this town recently defeated a proposition to issue
bonds.
Batson, Hardin County, T ex .— B o n d s V o t e d . — Reports
state that the voters on Dec. 4 authorized the issuance of
$5,000 school-house bonds. The vote was unanimous.
Bayou Terre-aux-Boeuffs Drainage District (P. O. St.
Bernard), St. Bernard Parish, L a .— B o n d S a l e . — The $60,000
bonds mentioned in V . 89, p. 1235, were awarded on Nov. 24,
it is stated, to the Whitney Central Bank of New Orleans.
Bedford City, Bedford County, V a .— B o n d E l e c t i o n .—
A proposition to issue $95,000 bonds for the construction
of a hydro-electric plant will, it is stated, be submitted to
the voters on Dec. 29.
Bee County School District N o. 2, T ex.— B o n d O f f e r i n g .—
Proposals will be received until 10 a. m. Dec. 26 by W . W .
Dodd, County Judge (P. O. Beeville), for $14,000 5 % coupon
bonds.
A u th o r it y C h apter 12, .Section 70-8 1 , A c t s o t th e 3 1st L egisla tu re.
D e
n o m in a tio n $10 0.
D ate A u g . 13 1909.
In te re s t o n A p ril 10 a t th e C o u n ty
T rea su rer’s o ffic e .
M aturity 20 y e a rs, s u b je c t to call a fte r 10 years.
C ertified ch e ck fo r $250, p a y a b le to th e C o u n ty J u d g e , Is re q u ire d . T h e
d is tric t has n o d e b t a t presen t. A ssessed v a lu a tio n 1909, $73 4 ,1 3 0 ;
Bethlehem School District (P. O. Bethlehem), Northamp
ton County, Pa.-— N o B o n d s to B e I s s u e d at P r e s e n t . — Refer
ring to the reports that a $12,000 school bond election would
be held some time in November (V . 89, p. 946), the Secretary
£VOL. L X X X I X .
Board of Education writes us that there are “ no bonds be
ing issued at this tim e.”
Brady, T ex .— Rond S a l e . — The $20,000 5 % 10-40-year
(optional) coupon street-improvement bonds registered by
the State Comptroller on Jan. 5 (V . 88, p. 320) have been sold.
Buffalo, N . Y .— B o n d s A w a r d e d i n P a r t . — Of the $3 71,
966 66 4 % 5-year registered Elmwood Ave. improvement
bonds offered but not awarded on N ov. 29 (V . 89, p. 1495),
$370,000 has been sold at par as follows: $200,000 to Daniel
A. Moran & Co. of New York City and $100,000 to the East
Side Savings Bank of Rochester.
Burlington Independent School District (P . O. Burling
ton), Des Moines County, Iow a.— B o n d S a l e . — This district
has sold $40,000 school bonds to local parties. These bonds
are part of the $50,100 4 % bonds awarded on April 10 1909
to George M. Bechtel & Co. of Davenport (V . 88, p. 1017),
which they failed to take up. The balance of the securities
($10,100) will be disposed of as the money is required.
Clallam County School District N o. 3, W a sh .— B o n d S a l e .
— An issue of $4,000 5 3^% 10-20-year (optional) funding
bonds was awarded on N ov. 4 to W in. D. Perkins & Co. of
Seattle at par.
D e n o m in a tio n $500.
D a te D e c. 1 1909.
In te re s t se m i-a n n u a l.
Clinton, Worcester County, M ass.— B o n d O f f e r i n g .—
Proposals will be received until 10-30 a. m . Dec. 23 by Chas.
E . Shaw, Town Treasurer, for $60,000 4 % coupon school
bonds.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te Ja n . 1 1910.
In te re st s e m i-a n n u a lly a t the
C ity T ru st C o . In B o s to n .
M atu rity $3,0 0 0 y e a r ly o n Jan . 1 fro m 1911 to
1930 Inclu sive.
B on ds w ill be certltlcd as to genulnesness b y th e C ity T ru st
C o. o f B o s to n , w h ich will fu rth e r c e r tify th a t th e le g a lity o f th e Issue has
b e e n a p p r o v e d b y S to r e y , T h o rn d ik e , P a lm e r & T h a y e r o f B o s to n . B on ds
will be r e a d y fo r d e liv e ry o n Jan . 1 1910.
Council Bluffs Independent School District (P . O. Council
Bluffs), Iowa .— B o n d s A w a r d e d . — The Board of Education
at its meeting on Dec. 7 accepted the bid of the Harris Trust
& Savings Bank of Chicago for the $57,000 4 % refunding
bonds given in the “ Chronicle” of Dec. 4. The price paid
by them was par.
D a te D e c . 1 1909.
In te r e s t's e m l-a n n u a l.
M a tu rity D e c . 1 1919.
Cuthbert, Randolph County, G a .— B o n d S a l e . — On Dec. 7
John W . Dickey of Augusta purchased the $20,000 5 % 30year coupon water-works and electric-light-improvement
bonds described in Y . 89, p. 1439, at 103.87 and accrued
interest. A list of the bids received follows:
J o h n VV. D ic k e y , A u g u s ta .$20,774 00) W e ll, R o t h & C o ., C ln ctn _ $ 2 0 ,4 0 5
J . H . H H sm a n & C o., A tl_ _ 20,701 00 U len , S u th c r lln & C o ., C h L 2 0 ,2 3 7
T U Iotson & YV olcott, C le v e . 20,614 75 R o b in s o n -H u m p h r c y C o .,A t 2 0 ,2 1 5
J . B . M cC rary C o ., A t l a n .. 20,498 75 S c c .S a v .B k .& T r .C o ., T o l . _ 2 0 ,2 0 0
S e a s o n g o o d & M a y e r, C ln _ . 20,436 00 C. II. C o ffin , C h ic a g o ____ 19,001
00
10
CO
CO
00
A bid was also received from S. A . Kean & Co. of Chicago.
The bonds are dated Dec. 7 1909.
Dadeville, Tallapoosa County, Ala.— B o n d S a l e . — Local
papers state that an issue of high-school bonds has been sold.
Dalton, Whitfield County, Ga.— B o n d s D e f e a t e d . — An
election held Dec. 8 resulted in the defeat of a proposition
to issue $10,000 school bonds. The vote was 150 “ for” to
244 “ against.”
Danville, V a .— B o n d s A u t h o r i z e d . — An ordinance has
been adopted providing for the issuance of the $100,000
4 % 30-year street and bridge-improvement bonds voted
(V . 89, p. 870) on Sept. 28. W e are informed that they
will be offered for sale next month.
Dayton, Ohio.— B o n d S a l e . — The $6,000 5 % 1-3-year
(serial) coupon fire-engine bonds described in V. 89, p. 1439,
were sold on Dec. 15 to the Dayton Savings & Trust Co. of
Dayton for $6,074 50— the price thus being 101.241— a basis
of about 4 .3 4 7 % . Following are the bids received:
D a y to n S a v .& T r .C o .,D a y .56,074
D avies, B ertram & C o ., Cln. 6,061
S cason gootl & M ayer, C In . _ 6,061
B reed & H arrison, C ln c ln , _ 6,060
W e ll, R o th & C o ., C l n c l n .. 6,054
501C. E . D cn ts o n & C o ., C lcv e ^ $ 6 ,0 5 2
00 N ew First N at. B k ., C o lu m . 6,0 4 6
00 F ie ld ,L o n g s tr cth & C o .,C ln _ 6 ,0 4 0
60 |H a y d e n , M iller & C o . , C lc v . 6,0 1 2
50!
25
55
50
75
Delphos School District (P. O. Delphos), Allen County,
Ohio.— B o n d E l e c t i o n . — Reports state that this district is
considering the holding of an election for the purpose of
voting on the question of issuing $70,000 bonds for a new
school building.
De Queen, Sevier County, Ark.— B o n d S a l e . — An issue of
$50,000 6 % school bonds was recently disposed of at private
sale to Duke M. Farson & Co. of Chicago.
Deshler, Henry County, Ohio.— B o n d S a l e . — An issue of
$2,200 4 % Elm Street sewer bonds offered on N ov. 29 was
awarded on Dec. 3 to the Security Savings Bank
Trust Co.
of Toledo at par and accrued interest.
D e n o m in a tio n $440.
D ate N o v . 15 1909.
In te re st In A p ril an d O cto b e r .
M a tu rity $440 y e a rly o n A p ril 1 fro m 1911 to 1915 In clu siv e .
Detroit, Mich.— B o n d O f f e r i n g . — Proposals will be received
until 11 a. m . Jan. 3 1910 by Frank E . Doremus, City
Comptroller, for $216,000 public school and $149,000 sewer
3 ^ % coupon bonds.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate Ja n . 15 1910.
In te re st s e m i-a n n u a lly at
the cu rren t o ffic ia l b an k o f th e c it y o f D e tr o it in N ew Y o r k C ity o r a t the
C ity T rea su rer’s o ffic e .
M atu rity 30 y e a rs.
B on d s are e x e m p t fro m all
ta x e s. C ertllled c h e ck (o r cash) o n a n y n ation a l ban k o r o n a S ta te ban k
In D e tro it fo r 2 % o f b o n d s b id fo r Is re q u ir e d .
P u rch a ser to p a y a ccru ed
Interest.
Dover, Del.— B o n d S a l e . — The Kent County Mutual In
surance Co. was the successful bidder bn Dec. 15 for an issue
of $25,000 4 ^ % street bonds. The price paid by them was
102.05.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te D e c. 1 1009.
In te re st S em i-annual.
tu r ity D e c . 1 1959, s u b je c t to call a fte r D e c^ jl 1929. <, ,
i
M a
D e o . 18 1909.]
THE CHRONICLE
1613
Hicksville, Defiance County, Ohio.— B o n d O f f e r i n g .—
Proposals will be received until 12 in. Dec. 20 by O. P.
Bevington, Village Clerk, for $3,000 5 % North Main St.
paving bonds.
Elkhorn, Douglas County, N eb.— B o n d S a l e . — The $10,000
5 % 5-20-year (optional) registered water-works bonds de
scribed in V . 89, p. 550, have been sold to the State Bank of
Elkhorn at 101 and accrued interest.
El Paso County Common School District No. 2, T ex .—B o n d s R e g i s t e r e d .— The State Comptroller registered $6,000
5 % 15-20-year (optional) bonds on N ov. 29.
Essex County (P. O. Salem), M ass.— B o n d O f f e r i n g —
Proposals will be received by the County Commissioners
until 10 a. m . Dec. 20 for $115,000 4 % coupon “ Building
Loan No. 2 ” bonds.
A u th o r it y S e ctio n 95, M u n icip a l C o d e .
D e n o m in a tio n $ 30 0.
D a te
Ja n . 1 1910.
In te re s t M arch 1 an d S e p t. 1, c o m m e n cin g S e p t. 1 1910.
M atu rity $300 ea ch s ix m o n th s fro m M arch 1 1911 to S e p t. 1 1915 In clu sive.
C ertliied c h e c k fo r 1 % o f a m o u n t o f b o n d s b id f o r , p a y a b le t o th e V illa g e
T reasu rer, Is re q u ir e d .
P u rch a ser t o p a y a c c r u e d interest.
A u th o rity , C h apters 333 a n d 361, A c t s o f 1009.
D e n o m in a tio n 51,000e D e c 1 1909.
In terest p a y a b le sem i-a n n u a lly a t th e First N a tlo n a 1
D)aa tte
M
a tu rity „$15
,000 o- n D e c. 1 In e a ch o f th e .years, 1916,
H ank In B o s to n .
----------------------,
1917 an d 1923 an d $14 ,000 y e a r ly o n D e c. 1 fro m 1918 to 1922 Inclu sive.
B on ds will he certified to as to their genuineness b y th e C ity T ru st C o. o f
B os to n , w h ich w ill fu rth e r c e r tify th a t th e le g a lity o f this Issue has been
a p p ro v e d b y S to r e y , T h o rn d ik e , P a lm e r & T h a y e r o f B o s to n , a c o p y o f
w hose op in ion w ill b e fu rn ish ed th e su ccessfu l bid d e rs. C o u p o n b o n d s
m a y be ex c h a n g e d f ,r r glstered ce r tific a te s a t o p t lo ; o f p u rch a se r.
D e n o m in a tio n 5 1 ,0 0 0 .
D a te S e p t. 20 1909.
In te re st s e m i-a n n u a lly a t
the C o u n ty T rea su rer’s o ffic e in El C en tro. M atu rity o n S e p t. 20 as fo llo w s :
$3,000 in 1916, S2.000 In 1917 a n d $ 3 ,000 y e a rly fro m 1920 to 1935 In clu sive.
T h is issue ($65,000) is Its o n ly d e b t . A ssessed v a lu a tio n 5 1 ,8 0 3 ,6 6 6 .
R ea l
v a lu a tio n (e s tim a te d ), $ 4 ,0 0 0 ,0 0 0 .
L o a n O f f e r i n g . — In addition to the above the County Com
missioners will receive proposals on the same day for the
discount of $76,000 bridge notes. Notes will be dated
Dec. 20 1909 and mature: $60,000 Oct. 1 1910 and $16,000
June 1 1911. These notes will be certified as to their genu
ineness by the City Trust Co. of Boston.
Festus, Jefferson County, M o.— B o n d O f f e r i n g . — Proposals
will be received until Dec. 20 (date changed from Nov. 25)
for $8,000 5 % elcctric-light-improvemcnt bonds.
D en om in a tion $500.
D ate Jan . 1 1910.
In te r e s t a n n u al.
T h e secu ri
ties are s u b je c t to call a fte r 10 years.
W e a r c a d v is e d th a t the " d a t e o f
sale w as ch a n g ed b ecau se o u r co m m itte e fa ile d to ad v e rtise in tim e — all
b ids r e c e iv e d are bein g h eld until th e la te r d a t e .”
Floyd County (P. O. New Albany), In d .— B o n d O f f e r i n g .—
Proposals will be received until 4 p. m. Jan. 27 1910 by
Julian T . Miller, County Auditor, for $210,000 4 % coupon
funding bonds.
M aturD en om in a tion $500. D a te Jan . I 1910.
In te re st s e m i-a n n u a l.
Itv $10 000 v ea rly on Jan . 1 from 1911 to 1929 Inclu sive a n d $ 20 ,000 Jan . I
1930
’C ertillcd ch eck o n a ban k In F lo y d C o u n ty fo r 3 % o f b o n d s b id fo r ,
p a y a b le to the B oard o f C o u n ty C om m ission ers, Is re q u ire d .
Forsyth Township School District (P. O. Princeton), Mar
quette County, Mich.— B o n d S a l e . — This district has dis
posed of at par the $8,000 bonds— the unsold portion of the
issue of $33,500 5 % school-building bonds mentioned in
V . 88, p. 246.
Fredonia School District (P. O. Fredonia), Chautauqua
County, N . Y . — B o n d S a l e . — The State Comptroller has pur
chased the $24,000 4 % 3-26-year (serial) school bonds
offered without success (V . 88, p. 1636) on May 12.
Gallia County (P. O. Gallipolis), Ohio.— B o n d S a l e . — On
Dec. 9 an issue of $4,000 4 y 2 % infirmary bonds was awarded
to the Commercial & Savings Bank of Gallipolis at 101.90.
The bids were as follows:
C o m m ’l & S a v .l l k ., G a llIp --$ 4 ,0 7 6 00 H a y d e n , M lller& C o., C le_..$4 ,059 00
T lllo ts o n & W o lc o t t , C leve 4,074 80 N ew 1st N a t. B k ., C o l u m .. 4,052 50
S. K u h n & S on s, C lncln
. 4 ,0 4 0 50
F irst N at. B a n k , C lev e____ 4,071 00
S e a s o n g o o d & M a y e r, C le v e . 4,062 41 V in to n B a n k ’g C o ., V in to n . 4,0 4 0 00
D e n om in a tion $500.
D a te D e c. 15 1909. In te re st se m i-a n n u a l.
M a
tu r ity D e c. 15 1914.
Grand Rapids School District (P. O. Grand Rapids),
Kent County, Mich.— B o n d O f f e r i n g . — Proposals will be
received until 12 m . Jan. 3 1910 by Thomas D . Perry,
Secretary of the Board of Education, for $125,000 4 ) ^ %
coupon high school bonds.
D en om in a tion $ 1 ,0 0 0 .
D ate S e p t. 1 1908.
In te re st scm t-an n u ally
a t th e C ity T rea su rer’s o ffic e In N ew Y o r k e x c h a n g e .
M a tu rity o n S e p t. 1
as follow s: $ 50 ,000 In 1918 an d $75 ,000 In 1919.
B on ds are e x e m p t fro m
ta x e s .
U n con d ition a l certified ch eek fo r 3 % o f b o n d s b id fo r , p a y a b le
t o th e P resid en t o f th e B o a rd o f e d u c a t io n , Is re q u ire d .
Grayson County (P. O. Sherman), T ex .— B o n d E l e c t i o n .—
An election will be held to-day (Dec. 18) to vote upon a
proposition to issue $250,000 4 y % 40-year road bonds.
Greenville, Greenville County, So. Car.— B o n d S a l e .—
On Dec. 7 an issue of $5,000 5 % refunding bonds was awarded
to Alester G. Furman of Greenville at 104.55. The following
bids were also received:
T h a c k s to n & S o n , G r c e n v .$ 5 ,1 8 7 501 W e ll, R o t h & C o ., C in -------$ 5 ,0 0 5 00
R ob in son -IIu rn p h rey C o .,A tl 5,077 0 0 |J. I>. H ick m a n , G r e e n v ille - 5,000 00
D en om in a tion $500.
D ate Jan . i 1910.
In te re s t se m i-a n n u a l. M a
tu r ity Ja n . 1 1930.
Greenwich, Huron County, Ohio.— B o n d O f f e r i n g .— Pro
posals will be received until 12 m. Dec. 29 by D . L . W ebb,
Village Clerk, for the following 5 % improvement bonds.
$1,460 F a st M ain S t. (v illa g e p ortion ) b o n d s.
D e n o m in a tio n $146.
3,7 9 0 B ast Main S t. (assessm ent) b o n d s.
D e n o m in a tio n $379.
4 ,7 3 0 W est M ain S t. (assessm ent) b o n d s.
D e n o m in a tio n $473.
2,020 W est M ain S t. (villa ge p ortion ) b o n d s.
D e n o m in a tio n $202.
6,060 T ow n son d S t. (assessm ent) b o n d s.
D e n o m in a tio n $606.
3,2 6 0 'I'ow nsend S t. (villa ge p ortion ) b o n d s.
D e n o m in a tio n $326.
D ate N o v . 1 1909.
In terest an im al.
M atu rity o n e -te n th o f ea ch Issue
on N o v . 1 from 1910 to 1919 Inclu sive. C ertified c h e ck fo r 5 % o f a m o u n t
o f b on d s bid fo r , p a y a b le to the V illa ge C lerk, Is re q u ir e d .
P u rch a ser to
p a y a c c r u e d in terest.
Greenwood, Leflore County, M iss.— B o n d S a l e . — The
$20,000 drainage and the $10,000 funding 5 % 20-year coupon
bonds described in V . 89, p. 1439, were sold on Dec. 7 to the
Capital National Bank of Jackson at 102— a basis of about
4 .8 4 3 % .
Among the other bidders were Weil, Roth & Co.
of Cincinnati, S. A. Kean & Co., John Nuveen & Co. and
Ulen, Sutherlin & Co., all of Chicago, and A . J. Hood & Co.
of Detroit.
Harris County Common School District N o. 21, T ex .—^
B o n d S a l e .— 'The $10,000 5 % 10-40-year (optional) bonds
registered by the State Comptroller on Sept. 8 (V . 89, p. 872),
have been sold.
Hickman County (P. O. Centerville), Tenn.— B o n d S a l e .—
The $12,500 bridge bonds recently authorized have been
bought by A . J. Hood & Co. of Detroit.
Holtville Union High School District, Imperial County,
Cal.— B o n d s O f fe r e d b y B a n k e r s . — In their circular for No
vember the W m . R . Staats Co. of Pasadena is offering to in
vestors $53,000 of an issue of $65,000 6 % bonds of this
district.
Hoquiam, Chehalis County, W a sh .— B o n d s R e f u s e d . — Act
ing upon the advice of Dillon & Hubbard of New York City,
Edmund Seymour & Co. have refused to accept the $85,000
3-19-year (serial) warrant-funding bonds awarded them
(V . 89, p. 363) on July 26.
Houston, T ex.— B i d s R e j e c t e d . — The following bids, all
of which were rejected, were received on Dec. 15 for the $100,
000 4 ^ % 20-30-year (optional) coupon street-paving bonds
described in V . 89, p. 1368:
S e a so n g o o d & M ayer, C i n e .-$100,8151 W e ll, R o t h & C o ., C in c ln _ .$ 1 0 0 ,3 3 0
P r o v . S a v . B k .& T r .C o .,C In - 1 0 0 ,5 1 0 |E. H . R o llin s & S o n s , C h ic . 100 ,027
These bonds were registered by the State Comptroller on
Dec. 11.
Huntington Park, Los Angeles County, Cal.— B o n d E l e c
t i o n . — An election will be held to-day (Dec. 18), it is stated,
to vote upon a proposition to issue S35,000 gas-plant bonds.
Jackson, A la .— B o n d S a l e . — The $10,000 5 % 30-year
coupon school bonds mentioned in V . 89, p. 60, have been
disposed of at private sale to Graham, Moore & Co. of
Boston. Denomination $500.
Date Sept. 1 1909. In
terest semi-annual. Bonds are tax-exempt.
Jackson, M iss.— B o n d s A u t h o r i z e d . — The ordinance au
thorizing the $325,000 bonds mentioned in V . 89, p. 1440,
was passed by this city on Nov. 19. The bonds are to be
issued for the purpose of making extensions and betterments
of the water-works, paving of streets, sewers, sidewalks,
repairing of municipal buildings and for the improvement of
school buildings.
Jefferson County (P. O. Steubenville), Ohio.— B o n d S a l e
— The Miners’ & Merchants’ Exchange Bank of Smithfield
has purchased the $35,000 4 ) ^ % coupon Bloomfield and
Smithfield Free Turnpike bonds offered but not awarded
(V . 89, p. 1100) on Oct. 15.
Jefferson County (P. O. Beaumont), T ex.— B o n d E l e c t i o n .
— An election will be held Jan. 14 1910 to vote upon a pro
position to issue $150,000 5 % drainage bonds.
Jones County (Tex.) Common School Districts.— B o n d
S a l e . — During the month of November the Jones County
Permanent School Fund purchased the following 5 % 5-20year (optional) bonds which were registered by the State
Comptroller on Sept. 21 (V . 89, p. 872.)
$1,000
1,000
1,500
1,200
The
S ch o o l D istrict N o . 43 b o n d s. $ 1 ,000 S ch o o l
1,700 S ch o o l
S ch o o l D istrict N o . 35 b o n d s.
1,000 S ch o o l
S ch o o l D istrict N o . 32 b o n d s.
1,500 S c h o o l
S ch o o l D istrict N o . 29 b o n d s.
a b o v e b o n d s are all d a te d S e p t. 10 1909.
D is trict
D is trict
D istrict
D istrict
N o . 55 b o n d s .
N o . 18 b o n d s .
N o . 13 b o n d s .
N o. 1 bon d s.
Kansas City, Wyandotte County, K ans.— B o n d O ffe r in g .
— Proposals will be received until 8:30 p. m . Dec. 21 by J. E .
Smyth, City Clerk, for the $60,000 4 % % fire-station bonds
voted (V . 89, p. 1024) on N ov. 2.
. D e n o m in a tio n $ 1 ,0 0 0 .
D a te J a n . 1 1910.
In te re st s e m i-a n n u a lly at
th e S ta te T re a su re r's o ffic e In T o p e k a .
M atu rity Jan . 1 1940.
B id t o
be m ade o n a fo rm furnish ed b y th e c it y a n d be a c c o m p a n ie d b y a certified
c h e ck fo r $ 5 ,0 0 0 . O fficial circu la r states th e re Is n o litig a tio n p en d in g or
th re a te n e d airectln g th e v a lid it y o f th e b o n d s , th e b ou n daries o f th e c ity
o r the title o f a n y c it y o ffic ia l w h o has a n y c o n n e c tio n w ith th e Issuance
o f th e b o n d s.
King County (P. O. Seattle), W a sh .— B o n d S a l e . — During
November Geo. H . Tilden & Co. of Seattle purchased $313,
000 4 > 6 % 1-20-year (serial) refunding bonds on a 4 * 4 %
basis. Denomination $1,000.
Date about Dec. 1 1909.
Interest semi-anrtual.
Klamath Falls, Klamath County, Ore.— B o n d S a l e . — The
$40,000 20-year gold coupon sewer bonds described in V . 89,
p. 1497, were awarded on Dec. 6 to E . H . Rollins & Sons of
San Francisco at 100.16 for 5s. The following bids were
received:
E . H . R o llin s & S on s, D e n v e r /F o r 5s------------------------ i -------------------------100.16
( F o r 6 s __________________________- - - - - - 1 0 7 . 4 0
A . J. H o o d & C o ., D e tr o it (fo r 5 M s ) --------------------------------------------1— 1 01 .625
M orris B r o s ., P o rtla n d (fo r 5 M s )-----------------------------------------------------------101.068
M cC o y & C o ., C h icago / F o r 5 M s------------------------ ----------- ............— — 1 01 .05
( F o r 6 s _________________________________________ 107.10
K a n e & C o ., M in neapolis (fo r 6 s )----------------------------------------------------------- 102 .50
J oh n N u veen & C o ., C h icago (fo r 6 s ) ----------------------------------------------------102 .26
K la m a th C o u n ty B a n k . K la m a th Falls (fo r C s)............................. ,--------- a P a r
a F o r $10,000 b o n d s.
Lake Arthur, Chaves County, N . M .— B o n d s V o t e d . — An
election held Dec. 9 resulted in favor of a proposition to issue
$20,000 water-works and street-improvement bonds. The
vote was unanimous.
Lancaster, Dallas County, T ex .— P u r c h a s e r s o f B o n d s .—
W e are advised that White & Co. of Lancaster were the
purchasers of the 81,992 6 % water-works-improvement
bonds, the sale of which was mentioned in V . 89, p. 1497.
The bonds were disposed of on Sept. 8.
D e n o m in a tio n $200.
D ate S e p t. 1 1909.
In te re st .annual.
$200 o n S e p t. 1 In each o f th e years 1911, 1913, 1915 and 1917.
M a tu rity
1614
THE CHRONICLE
Lincoln County (P. 0 . Carrizozo), N . M ax.— B o n d , S a l e . —
Coffin & Crawford of Chicago have purchased $28,000 4 ^ %
20-30-year (optional) court-house and (jail bonds offered on
N ov. 23. W e are informed under date of Dec. 9, however,
that they will not be issued for at least six months as it is
necessary first to test their validity before the Supreme
Court of New Mexico.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te S e p t. 1 190 0.
In te re st s e m i-a n n u a lly a t
tile C ou n ty T rea su rer’s o ffic e in C a rrizo zo .
T o ta l d e b t , in clu d in g tlds
issu e, $ 06 ,175 . A ssessed v a lu a tio n 1909, $ 1 ,2 4 9 ,7 9 3 .
R e a l v a lu a tio n
(e s tim a te d ), $ 5 ,0 0 0 ,0 0 0 .
Linton, Emmons County, N o. D ak.— N o B o n d E l e c t i o n . —
The reports stating that an election would be held N ov. 29
to vote on the question of issuing $14,000 funding bonds are
erroneous.
Longview, Gregg County, T ex .— B o n d s N o t S o l d . — W e are
informed that the $30,000 street-improvement and the $1,996
water-works 5 % 20-40-year (optional) bonds registered by
the State Comptroller on Oct. 5 (V . 89, p. 1025) have not
as yet been sold. The bonds answer the following descrip
tion: Date Sept. 1 1909. Denomination $1,000. Interest
semi-annual.
Luna County (P. O. Dem ing), N . M .— B o n d s V o t e d . — It is
reported that the voters on Dec. 9 authorized the issuance of
$25,000 court-house bonds.
Luzerne County (P . O. Wilkes-Barre), P a.— B o n d O f f e r i n g .
— Proposals will be received until 2 p. m . Dec. 20 by J. M.
Norris, County Comptroller, for $200,000 4 % coupon funding
bonds.
D e n om in a tion $ 1 ,0 0 0 .
D a te F e b . 1 1910. In te r e s t sem i-a n n u a l. M a
tu rity part y e a rly o n F e b . 1 fro m 1915 to 1934 in clu s iv e . C ertified ch eck
fo r $2,000 Is req u ired .
Macon, Ga.— B o n d s V o t e d . — The election held Dec. 8
(V . 89, p. 949), it is stated, resulted in favor of the proposi
tions to issue 3100,000 paving and $100,000 sewer 4 % gold
coupon bonds. The vote was 650 “ for” to 16 “ against” the
paving bonds and 672 “ for” to 5 “ against” the sewer bonds.
Madison, Madison County, Fla.— B o n d s N o t Y e t S o l d . —
This city is trying to dispose of the three issues of 6 %
5-30-year (optional) bonds aggregating $45,000, offered but
not awarded (V . 89, p. 1101) on Sept. 22.
Malden, Middlesex County, M ass.— T e m p o r a r y L o a n . — A
four-months’ loan of $100,000 has been negotiated with Bond
& Goodwin of Boston at a discount of 4 .3 6 % .
Malden, M o.— N o B o n d E l e c t i o n at P r e s e n t . — Up to Dec. 11
it had not yet been determined when the $29,000 bond elec
tion mentioned in Y . 89, p. 1025, would be held.
Manatee County (P. O. Bradentown), F la.— I n j u n c t i o n
D i s s o l v e d . — Judge Wall of the Circuit Court of this State
during the latter part of November dissolved, it is reported, a
temporary injunction granted some time ago on alleged
technical errors in the conducting of an election held in this
county at which an issue of $250,000 road bonds was voted.
Mansfield Independent School District (P. O. Mansfield),
T ex .— D e s c r i p t i o n o f B o n d s . — The $15,000 5 % 20-40-year
(optional) bonds registered by the State Comptroller on
Oct. 7 (V . 89, p. 1025), are in denominations of $1,000 each
and are dated Sept. 1 1909. Interest March 1.
Marblehead, Essex County, M ass.—- B o n d S a l e . — An issue
of $30,000 4 % gold coupon municipal light bonds was
awarded on Dec. 15 to E . M. Farnsworth & Co. of Boston
at 103.25 and accrued interest. The following bids were
received:
R . L . D a y & C o ., B o s t o n ____ 102.59 IA d a m s & C o ., B o s t o n ..............101.69
E s ta b ro o k & C o .. B o s t o n ____ 102 .5 5 B lake B ros & C o ., B o s t o n — 101.45
B lo d g e t, M erritt & C o ., B o s . .1 0 2 .2 8 I M errill, O ld h am & C o ., B o s .- 1 0 1 .4 1 9
D en om in a tion $ 1 ,0 0 0 .
D a te N o v . 1 1909.
In te re s t se m i-a n n u a lly In
B o s to n .
M a tu rity $2,000 y e a r ly fro m 1910 to 1924 In clu sive.
B o n d s are
e x e m p t fro m ta xes In M assachusetts. T h e le g a lity o f the Issue has been
a p p r o v e d b y S to r e y , T h o rn d ik e , P a lm e r & T h a y e r .
Marianna, Jackson County, Fla.— B o n d E l e c t i o n . — An elec
tion will be held Dec. 21 to vote upon a proposition to issue
$10,000 5 % 20-year bonds. Interest semi-annual.
Marion, Marion County, Ohio.— B o n d S a l e . — The $6,800
4 % coupon refunding bonds bids for which were rejected
on Oct. 5 (V . 89, p. 949), have been disposed of at par at
private sale as follows: $5,000 to Canby Lodge No. 51,
Knights of Pythias, $1,000 to Edward Vail and $800 to the
Marion Savings Bank Co. The successful bidders are all of
Marion.
Marshall County (P. O. Plym outh), In d .— B o n d S a l e . —
The $15,000 5 % coupon court-house-repair bonds described
in V . 89, p. 1369, were sold on Dec. 10 to Charles C. Wedding
& Co. of Indianapolis for $15,645 50— the price thus being
104.303. Maturity $2,000 yearly on Dec. 10 from 1911 to
1916 inclusive and $3,000 on Dec. 10 1917.
Martinsburg, Berkeley County, W . V a .— B o n d s V o t e d . —
A vote of 318 “ for” to 110 “ against” was polled Dec. 14 on
a proposition to issue $40,000 5 % water-system bonds.
Maturity 34 years.
Maryville, Blount County, Tenn.— B o n d s to B e I s s u e d
S h o r t l y . — An ordinance providing for the issuance of the
$30,000 5 % 20-year school-building bonds voted on Sept. 9
(V . 89, p. 740) has been passed on its second reading and is
ready for final passage.
Melissa Independent School District (P. O. Melissa),
Collin County, T ex.— B o n d S a l e . — On N ov. 26 the $5,500
5 % 15-40-year (optional) school-building bonds (the unsold
[V O L . L X X X I X .
portion of the issue of $10,000 bonds mentioned in V . 89,
p. 873) were sold to the Noel-Young Bond & Stock Co. of
St. Louis for $5,450— the price thus being 99.09.
M inneapolis, M in n . — B o n d O f f e r i n g . — Proposals will be
received until 2 p. m..Jan. 6 1910 by the Committee on W ays
and Means of the City Council at the office of Dan. C. Brown,
City Comptroller, for $25,000 4 % fire-department bonds.
D e n o m in a tio n s $50, $100, $500 an d $ 1 ,0 0 0 , as the p u rch a se r m a y desire.
D ate J a n . 1 1910.
In terest s e m i-a n n u a lly a t the llscal a g e n c y o f th e c it y
o f M in n eapolis In N ew Y o rk C ity .
M a tu rity J a n . 1 1940. C ertified c h e c k
fo r 2 % o f b on d s bid fo r , m ade p a y a b le t o C. A . B lo o m q u is t , C ity T re a su re r,
Is r e q u ire d .
P u rch a ser to p a y a c c r u e d Interest.
T h e o f f i c i a l n o tic e o f th is b o n d o f fe r i n g w i ll be f o u n d a m o n g
th e a d v e r t i s e m e n t s els e w h e r e i n th is D e p a r t m e n t .
M on tg om ery County (P . O . D a y to n ), O hio.— B o n d O f f e r
i n g s .—
Proposals will be received until 10 a. m . Dec. 24 by
John W . Edwards, County Auditor, for $2,000 4 j ^ % coupon
Rhoads Ditch bonds.
A u th o r it y S e ctio n 4 47 9, R e v is e d .Statutes.
D e n o m in a tio n $ 50 0.
D a te
Jan . 1 1910.
In te re st se m i-a n n u a lly a t the C o u n ty T r e a s u r e r ’s o ffic e .
M atu rity $500 y e a rly o n Jan . 1 fro m 1911 to 1914 In clu sive.
C ertllled ch e ck
o n a n ation al ban k o r trust c o m p a n y fo r $50 , p a y a b le to th e C o u n t y A u d i
to r, Is re q u ire d .
B ids m ust be u n c o n d itio n a l.
B o n d s w ill b e d e liv e re d to
the p u rch a ser o n Ja n . 1 1910.
In addition to the above, proposals will also be received
until 10 a. m . Dec. 30 by John W . Edwards, County Auditor,
for $3,500 4 3^ % coupon Bricker Ditch bonds.
A u th o r it y S e ctio n 4 179, R e v is e d S ta tu te s .
D e n o m in a tio n $ 60 0, e x c e p t
o n e b o n d o f $500.
D ate Jan . 1 1910.
In te re s t se m i-a n n u a lly a t the
C o u n ty T reasu rer's o ffic e .
M a tu rity p a rt y e a r ly o n Ja n . 1 fro m 1911 to
1916 In clu sive. C ertllled ch e ck o n a n ation al b a n k o r tru st c o m p a n y fo r
$100, p a y a b le to the C o u n ty A u d it o r , Is r e q u ire d . A ll b ids m u st be u n c o n
d itio n a l.
B on d s w ill be deliv e re d to p u rch aser o n Ja n . 1 1910.
N ew Bedford, M a s s . — B o n d O f f e r i n g . — Proposals will be
received until 7:30 p. m. Dec. 22 by W m . S. Cook, City
Treasurer, for $100,000 4 % registered public-library bonds.
A u th o r it y , C h a p te r 353 , A c ts o f 1907, as a m e n d e d b y C h a p te r 140, A c ts
o f 1908, an d C h a p te r 172, A c ts o f 1909.
D e n o m in a tio n $1,000 o r a n y m u l
tip le th e re o f.
In te re st se m i-a n n u a lly a t th e C ity T r e a s u r e r ’s o ffic e o r
th rou gh m ail b y c h e c k .
M atu rity $ 5 ,0 0 0 y e a r ly o n Jan . 1 fro m 1911 to
1930 Inclu sive.
B on ds are e x e m p t fro m ta xe s In M assachusetts. C ertified
ch e ck o n a nation al ban k fo r 2 % o f a m o u n t b id fo r , p a y a b le to th e C ity o f
N ew B e d fo r d , Is re q u ire d .
N ew Bern, Craven C o u n ty, N . C . — B o n d S a l e . — The $50,
000 5 % 30-year coupon paving bonds described in V . 89,
p. 1370, were sold on Dec. 7 to the J. B . McCrary Co. of
Atlanta at 103.722. The bids were as follows:
J . B . M cC rary C o ., A tl_ _ $51,861 00 U len, S utherlin & C o ., C h i.$51 ,075
51,530 50 A . J . H o o d & C o ., D e tro it 5 0 ,5 5 5
W e s t.-G e r m a n B k ., C in ._
S e a s o n g o o d * M a y e r , C ln .
51,430 00 S . A . K ea n & Co , C h i c . . . 5 0 ,5 5 0
W e ll, B o th & C o ., C ln ._
51,337 50 W o o d in .M cN e a r& M o o re .C h 50,513
00
00
00
00
N ew H a v e n , C onn. — B o n d S a l e . — The two issues of 4 %
coupon or registered bonds offered on Dec. 16 (V . 89, p.1555)
were awarded as follows: $100,000 improvement (Series D)
bonds maturing $20,000 yearly on Jan. 1 from 1930 to 1934
inclusive, awarded to R. L. Day & Co. of Boston at 101.099
— a basis of about 3 .9 2 5 % ; $25,800 voting-machine (Series
No. 1) bonds maturing $1,800 on Oct. 1 1910, $3,000 yearly
from Oct. 1 1911 to Oct. 1 1914 inclusive and $3,000 yearly
from Oct. 1 1916 to Oct. 1 1920 inclusive, awarded to the
Connecticut Savings Bank of New Haven at 100.05. Follow
ing are the bids:
$10 0,00 0
$25 ,800
issue
issu e.
R . L . D a y & C o ., B o s t o n _________________________ $10 1,09 9 00
$25,693 45
C o n n e cticu t S avin gs B a n k , N ew H a v e n ---------------.
25,812
90
B lo d g e t, M erritt & C o ., B o s t o n --------------------------- 101,077 00
25,800 00
N . W . H arris & C o ., B o s t o n _____________________ 100,589 00
25,800 00
H ln ck s B ros. & C o ., B r id g e p o r t---------------------------.
100,577 00
25,807 48
S p ltze r & C o ., N ew Y o r k — .......................... ............ 100,398 50
.............
S im ons & E m a n u el, N ew Y o r k --------------------------- 100 ,360 00
_______
E s ta b ro o k & C o ., B o s t o n -------------------------------- —
100,310 00
.............
C h isholm & C h ap m an , N ew Y o r k -----------------------. 100,132 00
_______
M errill, O ldh am & C o .. B o sto n (fo r b o th Issues)
125 ,087 44
K o u n tz c B ros. & C o .. N ew Y o r k (fo r b o th Issues)
125,928 52
N ew Orleans, L a . — B o n d S a l e . — This city has sold $150,
000 5 % improvement bonds due in 1918 and 1919. Duke
M. Farson & Co. of Chicago were the successful bidders.
N ew R ochelle, N . Y . — B o n d O f f e r i n g . — Reports state that
proposals will be received until 8 p. m . Dec. 28 by W . G.
Rainsford, City Clerk, for the following bonds:
$39 ,000 4 ^ % 12 1 -6 -yea r (average) se w e r b o n d s.
46,700 4 % 3 0 -y e a r g ra d e-crossin g b o n d s.
In terest sem i-an n u al. C ertified c h e c k f o r 5 % Is re q u ire d .
N orth P la tte, Lincoln C o u n ty, N e b . — B o n d S a l e . — The
State of Nebraska, offering 102.50, was the successful bidder
on Nov. 30 for the $100,000 5 % 5-20-ycar (optional) coupon
water-works bonds described in V . 89, p. 1370. This is on
an interest basis of about 4 .4 3 8 % to the optional date and
about 4.8 04% ' to full maturity.
N orw alk ,
Fairfield
C o unty,
C onn.— B o n d s
A w a rd ed
in
P a r t .—
Of the $70,000 4 % 25-year coupon (with privilege
of registration) water-works bonds offered without success
on Oct. 11 (V . 89, p. 1025), $60,000 were sold on N ov. 11 to
Crocker & Fisher of Boston at par.
Oakesdale, W h itm a n C o u n ty, W a s h . — B o n d S a l e . — The
$11,000 15-year water-works bonds offered on Nov. 1 (V . 89,
p. 1101) were awarded to C. II. Coffin of Chicago for $11,161
(101.463) for 6s.
Denomination $1,000. Date Jan. 1 1910.
Interest semi-annual.
O conom ow oc, W au k esh a C o u n ty, W i s .— B o n d S a l e . — W e
arc advised that the $10,000 4 % sewerage bonds that were
offered but not sold on Oct. 8 (V . 89, p. 1025) have been dis
posed of to the First National Bank of Oconomowoc at par
and accrued interest.
Orange C ounty N avigation D istrict N o . 1 , T e x .— Ronds
R e g i s t e r e d . — The State Comptroller on Dec. 7 registered
$100,000 5 % 10-40-year (optional) improvement bond*.
D e c . 18 1909, |
Osceola,
THE CHRONICLE
County, Ark.—Bond Sale.
Mississippi
— Duke M.
Farson & Co. of Chicago recently purchased at private sale
$20,000 6 % school bonds due part yearly from one to twenty
years inclusive.
Otero Irrigation District (P. O. La Junta), Otero County,
Colo.— Bonds Not Sold.— N o sale was m ade on D e c. 13 of the
$ 1 5 0 ,0 0 0 6 % 10-20-year (serial) bonds m entioned in V . 8 9 ,
p . 1441.
Denom ination $ 5 0 0 .
Pacific County (P. O. South Bend), Wash.—Bids Rejected.
— At the regular meeting of the Board of County Commis
sioners held Dec. 6, all bids submitted for the $150,000
2-10-year (optional) court-house-and-jail-construction bonds
offered on that day were rejected. W e are informed that the
County Treasurer has been instructed to re-advertise for
bids. For description of bonds see V . 89, p. 1370.
Palmer Independent School District (P. O. Palmer),
Ellis County, Tex.—Bond Sale.— The $ 1 2 ,0 0 0 5 % 1 0-20 -y ea r
(optional) bonds registered b y the Com ptroller on O c t. 8
(V . 8 9 , p . 1025) have been sold to the Citizens’ B a n k of
Palmer.
Paw Paw Township (P. O. Paw Paw), Sequovan County,
Okla.— Bonds Not Yet Sold.— W e are informed under date
of Dec. 13 that no award has yet been made of the $5,000
6 % 10-25-year (optional) coupon road-improvement bonds
offered without success (V . 89, p. 1102) on Oct. 1.
—
— The City Council
it is stated, has instructed the City Attorney to take the
necessary steps to call an election on the question of issuing
$300,000 bonds for the construction of a lighting plant.
1,
— The
$125,000 5 % 20-year gold coupon school-building bonds
offered on Dec. 6 (V . 89, p. 1441) were sold to the Harris
Trust & Savings Bank of Chicago at 109.28— a basis of
about 4 .3 1 % .
—
— 'During the past
week this city, it is stated, was successful in negotiating with
local banks the loan of $1,200,000 for general municipal pur
poses mentioned in V . 89, p. 1441. The loan carries 4 %
interest and matures in about four months.
— A resolution has been adopted by the
Councils providing that at the election next February the
voters shall pass on propositions to issue bonds aggregating
$8,000,000 for various municipal purposes.
On Dec. 10
the three issues of 4 % school and sewer bonds, aggregating
$98,000, described in V. 89, p. 1498, were awarded to the
City National Bank of Plainfield for $98,034 20 (100.034)
and accrued interest.
Phoenix, Ariz. Bond Election Proposed.
Phoenix School District No.
Ariz.— Bond Sale.
Philadelphia, Pa. Temporary Loan.
Bond Election.
Plainfield, Union County, N. J.—Bond Sale.—
1615
St. H elens/ Ore.— B o n d S a l e . — The issue of water-works
bonds mentioned in V. 89, p. 798, have been sold.
Sand Hill Township, N. Car.— B o n d s V o t e d . — Reports
have it that a $25,000 good-road bond proposition carried
at an election held on Dec. 13. It is further stated that
there was only one vote cast against the proposition.
San Francisco, Cal.— B i d s . — The following bids were re
ceived on Dec. 6 for the five issues of 5 % bonds, aggregat
ing $3,640,000, and the $360,000 4
water bonds which
were disposed of at 106.97 to the syndicate composed of
E. H. Rollins & Sons, N. W. Halsey & Co., N. W. Harris
& Co. and A. B. Leach & Co.:
E . H . R o llin s & S on s )
N . W . H alsey & C o . . . IA ll b o n d s o ffe r e d .......................... ..................... $4 ,27 8 ,8 2 4
N . W . Harris & C o . . . All 5% bonds_____ __________ ___________ 3 ,9 1 8 ,8 2 4
A . 13. L e a ch & C o ____ J
Jam es H . A d a m s & C o ., San F ra n cisco (fo r all 5 s )........ ........................3 782 ,731
C entral T ru st C o ., S an F ra n cisco ($44 0 ,0 0 0 h o sp ita l b o n d s )___
4 4 8 ,8 0 0
P en n M utual L ife In su ran ce C o . ($25 0 ,0 0 0 w a te r b o n d s )............... ..
2 5 0 ,0 5 0
W estern N a tion a l B a n k , San F ra n cis co ($ 2 0 0 ,0 0 0 g a rb a g e b o n d s)
21 1 ,5 0 0
2 2 ,508
,
( $ 2 0 , 0 0 0 . ..
F ire m e n 's F u n d In su ran ce C o . fo r th e Are p r o t e c tio n
2 2,609
2 0 ,0 0 0 ...
b o n d s ______________________________________
5 .0 0 0 . . .
5,500
5 .0 0 0 .
..
5,706
5 0 ,0 0 0 ...
55,000
The bonds were sold on a basis of about 4.42% .
Santa Monica, Los Angeles County, Cal.— B o n d
E lectio n
R e s c i n d e d . — The
$20,000 fire-department bond election
which was to have taken place Dec. 9 (V. 89, p. 1371) was
called off.
Saugus School District, Los Angeles County, Cal.— B o n d
S a l e . — The
$4,000 4 j^ % bonds offered on Nov. 29 (V. 89, p.
1442) were sold, it is stated, to the United States Bank of Los
Angeles at 100.625. Maturity $400 yearly on Nov. 29 from
1910 to 1919 inclusive.
Schenectady, N. Y . — B o n d O f f e r i n g . — Proposals will be
received until 11 a. m. Dec. 23 by O .S. Luff man, City Comp
troller, for $360,000 4% registered grade-crossing bonds.
In the official advertisement of these bonds notice is given
that $324,000 of them, maturing $18,000 yearly on July 20
from 1910 to 1927 inclusive, will be purchased at par by the
City Comptroller in trust for the Water Debt Sinking Fund.
A u th o r it y , S e ctio n s 60 a n d 61, C h a p te r 55, L a w s o f 1009, a n d S e ctio n 67a
o f th e R a ilro a d L a w .
D e n o m in a tio n $ 1 ,0 0 0 . D a te J u ly 20 1909. In teres t
s e m i-a n n u a lly a t the C ity T re a s u re r's o ffic e o r d ra fts o n N ew Y o r k w ill be
m a ile d to th e h olders th e r e o f. M a tu rity $ 1 8 ,0 0 0 y e a r ly o n J u ly 20 fro m
1910 to 1929 In clu sive . C ertified c h e c k o n a b a n k o r tru st c o m p a n y fo r
2 % o f b o n d s b id fo r , p a y a b le t o th e C ity C o m p tr o lle r , Is r e q u ire d . T h e
bo n d s will b e ce rtifie d as to th e ir gen u in en ess b y th e C o lu m b ia T ru s t C o.
o f N ew Y o r k C ity an d th e ir le g a lity a p p r o v e d b y C aldw ell & R e e d o f N ew
Y o r k C ity , a c o p y o f w h ose o p in io n w ill b e d e liv e re d to the p u rch a se r. T h ese
b o n d s w ere o ffe re d w ith o u t s u cce ss ( V . 8 9 , p . 30 4 ) o n J u ly 2 6 .
an d S o ld .
C e r ti f i c a t e O f f e r i n g . — Proposals will be received until 11
a. m. Dec. 21 by O. S. Luffman, City Comptroller, for
$200,000 certificates of indebtedness in anticipation of taxes.
— An issue of $20,000 5% 20-40-year (optional) sewer bonds
was registered by the State Comptroller on Dec. 6. They
were sold to the State School Fund at par and interest.
A u th o r ity S e ctio n 78 o f C h a p te r 55, L aw s o f 190 9.
D e n o ih ln a tlo n a n d
Interest rate t o b e n a m ed In b id . M a tu rity F e b . 21 1910. C ertified c h e c k
o n a ban k o r tru st c o m p a n y fo r 1 % o f th e ce rtifica te s b id f o r , p a y a b le t o
the C ity C o m p tro lle r, Is re q u ir e d . P u rch a se r t o p a y a c cru e d In terest.
Plainview, Hale County, Tex.— B o n d s R e g i s te r e d
Seattle, W ash.— B o n d S a l e s f o r N o v e m b e r . — The following
issue of $50,000 5% improvement bonds was 20 issues of local-improvement bonds aggregating $404,507 06
awarded in November to the Commercial National Bank of were disposed of during November:
$ 1 ,690 57 5 -y e a r w a lk b o n d s; $ 27 ,240 13 1 0 -y e a r p a v in g b o n d s: $ 2 0 ,
New Orleans at par.
727 29 5-y e a r g rad e a n d c u r b b o n d s: $3 4 ,0 5 0 16 1 0 -y e a r g ra d e a n d w alk
Portage Drainage District (P. O. New Roads), La .— B o n d
S a l e . — An
D en om in a tion $ 1 ,0 0 0 .
D ate J u ly 1 1008. In te re s t sem i-an n u al. M a
t u r it y 1928, s u b je c t t o re d e m p tio n a t a n y In terest p a y in g p eriod a lte r
J u ly 1 1018.
Portland, Ore . — B o n d S a l e . — Local papers state that this
city recently sold an issue of $347,500 improvement bonds
bearing 6 % interest. Of this amount, $26,500 were taken
by|the Mayor for the Water Board and Fire Relief fund,
and the balance ($321,000) was awarded to W. F. White.
b o n d s: $1,501 47 5 -y e a r g ra d e an d cu rb b o n d s: $976 25 5 -y e a r w ater-m ain
b o n d s: $11 ,814 91 5 -y e a r g rad e an d c u r b b o n d s; $1,613 93 5 -y e a r gra d e
a n d cu rb bo n d s: $1,236 71 5 -y e a r w alk b o n d s; $968 70 5 -y e a r w alk b on d s;
$ 1 ,682 99 5 -y e a r g rad e a n d cu rb b o n d s; $1 0 ,3 9 0 29 5 -y e a r w alk b on d s;
$62,314 07 5 -ye a r p a v in g b o n d s; $13 6,10 4 26 5 -y e a r se w e r b o n d s; $6,241 90
5 -y e a r w ater-m ain bo n d s; $2,714 45 5 -y e a r se w e r b o n d s; $ 4 ,1 8 9 03 5 -y e a r
ce m e n t-w a lk b o n d s; $27,763 13 5 -y c a r g ra d e a n d c u r b b o n d s; $ 1 1 ,1 6 7 14
5 -ye a r ce m e n t-w a lk bo n d s; a n d $30 ,119 68 5 -y e a r g r a d e a n d c u r b b o n d s .
The first-mentioned issue carries interest at the rate of
6%, while the remaining bonds all carry 7% interest. They
Pottawatomie County (P. O. W estmoreland), Kan.— are
all dated on different days in Nov. 1909.
B o n d s V o t e d . — At a recent election held in this county, a
Seattle
School District No. 1 (P. O. Seattle), King County,
proposition to issue railroad-aid bonds carried.
ash. — B o n d s V o t e d . — The election held Dec. 4 (V. 89, p.
Potter Valley School District, Cal.— B o n d S a l e . — The W
1371) resulted in favor of the proposition to issue $500,000
Savings Bank of Mendocino County in Ukiah purchased 1-20-year (serial) coupon school-building bonds. The vote
$1,200 6% 1-20-year (serial) school-building bonds during was 1,754 “ for” to 241 “ against.” The bonds, we are in
September for $1,226— the price thus being 102.166. De formed, will probably be offered in March. Bidders to
nomination $600. Date Sept. 23 1909. Interest annual.
name rate of interest.
Pratt, Pratt County, Kan.— B o n d S a l e . — An issue of
Sebring, Mahoning County, Ohio.— B o n d S a l e . — An issue
$20,000 5% water-works-extension bonds was sold on Dec. 2 of $25,000 4)^% sewage-disposal bonds was awarded on
to Strandberg, McGreevy & Co. of Kansas City, Mo. Date Dec. 15 to Tillotson & Wolcott of Cleveland at 104.32.
Sept. 1 1909. Maturity Sept. 1 1939, subject to call after
Denomination $1,000. Date O ct. 1 1909. Interest semi-annual.
Sept. 1 1924.
Maturity $1,000 yearly from Oct. 1 1911 to Oct. 1 1935 Inclusive.
Sheridan County School District No. 7, Wyo.— B o n d S a l e .
Quanah Independent School District (P. O. Quanah),
Hardeman County, Tex. — B o n d N o t S o l d . — A letter received — An issue of $100,000 5% 14^-year (average) bonds was
by us on Dec. 15 from the Secretary Board of Trustees states sold on Dec. 15 to the State of Wyoming at 104.10— a basis
that no sale has yet been made of the $10,000 5% 10-20-year of about 4.61% . The following bids were received:
(optional) bonds registered by the State Comptroller. (V . 89, State o f W yom ing___________ 104.100 IE. H. Rollins & Sons. C hlc._103.280
W oodtn.M cN ear& M oore.C h. 103.800 IN . W . H alsey & C o ., C hic___103.20
p. 951) on Sept. 28. Denomination $1,000. Date Sept. 1 J.
N. Wright & C o.. D enver. 103.7001
1909. Interest annually on Feb. 1.
Solano County (P. O. Fairfield), Cal.— B o n d S a l e . — E. H.
Richmond County (P. O. Rockingham), No. Car.— B o n d Rollins & Sons of San Francisco purchased on Dec. 6 the
S a l e . — The $15,000 5% coupon Beaver Dam Township road
$250,000 5% 1-25-year (serial) gold coupon court-housebonds described in V. 89, p. 1371, were sold on Dec. 6 to the construction bonds described in V. 89, p. 1371, at 105.95 and
Farmers' Bank of Rockingham for $15,050 (100.333), ac accrued interest— a basis of about 4.395%. The following
crued interest and blank bonds. Maturity Jan. 1 1940.
bids were received:
Ridgewood, Bergen County, N. J .—
P ric e P a id f o r B o n d s .
— We are advised that the price paid for the $36,000 4)^ %
highway improvement bonds awarded on Nov. 30 to N. W.
Halsey & Co. of Philadelphia (V. 89, p. 1557) was 101.689.
D e n o m in a tio n $500. D a t e O c t . 1 1 90 0. In te re s t sem i-an n u al,
t u r lty $ 8 ,0 0 0 y e a r ly o n O c t . 1 fro m 1014 t o 1010 Inclu sive
St. Augustine, Fla. — B o n d s
M a-
issue of sewer
bonds<amounting to $100,000 is being considered by this city.
P r o p o s e d . — An
E. H. Rollins & Sons, S. F r.$264,875|R . D . R obb in s....... ................. $263,561
W m . R . Staats C o.. P a sa d .. 264.238 Jas. H . Adam s & C o ., S. F r . 261,250
C. E. W oodslde & C o.. Los A . 263,825|
South Milwaukee, Wis.— B o n d O f f e r i n g . — Proposals will
be received by this city until Dec. 21 (time extended from
Dec. 7) for $15,000 5% water-works bonds.
Denomination $500. Interest payable annually on Jan. 1. Maturity
$500 each year for 10 years and then $1,000 each year thereafter fo r 10
years. S. M. Smith Is Mayor.
THE CHRONICLE
1616
[V O L . L X X X IX ,
South Omaha, Neb.— Bids Rejected. — This city on Dec. 6 tric-light bonds. Maturity 30 years, subject to call after
rejected, according to local papers, the bid submitted by the 15 years. W e are informed that the bonds will be offered
Security Savings Bank & Trust Co. of Toledo of par and ac about Jan. 15 or Feb. 1 1910.
crued interest, less attorney’s fees, for an issue of $19,000
Trenton, N . J.—
— An issue of $70,000'
“ M” Street grading bonds.
school-addition bonds has been authorized by this city.
Springfield (P. O. Windorn), Cottonwood County,’’ Minn. The bonds will be issued some time next spring.
— Bond Sale.— On Dec. 12 an issue of $850 6% bridge-build
Troy, N . Y .—
— An issue of $59,000 5% .
ing bonds was awarded to the First National Bank of Heron certificates due April 1 1910 was sold on Dec. 13 to Bond &
Lake at par.
Goodwin of New York City for $59,106— the price thus being
Bonds Authorized.
Certificate Sale.
D a te D e c. 2 1909.
In terest an n u a l.
M atu rity D e c . 1912.
100.179.
Springfield Pleasure Driveway & Park District (P. O.
Tye Independent School District (P. O. T y e), Taylor
Springfield), Sangamon County, 111.— Price Paid for Bonds. County, T ex.—
— W e are advised that the $5,000
— N. W . Halsey & Co. of Chicago paid 100.05 and accrued 5 % 15-20-year (optional) bonds described in V . 89, p. 952,
interest for the $20,000 4% 10^-year (average) coupon park have been sold.
bonds awarded them on Dec. 6. (See V. 89, p. 1557.
Union Township School District (P. O. M t. Cory), H an
Stark County (P. O. Dickinson), No. Dak.— Bond Sale.— cock County, Ohio.—
— Proposals will be re
On Dec. 6 the $60,000 20-year funding bonds described in ceived at any time by R. O. Comer, Clerk Board of Educa
V. 89, p. 1372, were awarded to the State of North Dakota tion, for the $14,000 4 % high-school bonds offered but not
at par for 4s, the county to pay for printing the blank bonds. awarded (V . 89, p. 952) on Oct. 1.
The other bidders were:
Bond Sale.
Bond Offering.
Bonds Not Awarded.
Vaiden, Carroll County, M iss.—
— No
award was made of the $21,000 water bonds offered on
Dec. 8 (V . 89, p. 1442), as it was discovered that “ all pro
ceedings were illegal.”
Vernon (P. O. Rockville), Tolland County, Conn.—
— The Town Treasurer informs us under
date of Dec. 15 that the $60,000 4 % 15-ycar bonds authorized
on Oct. 18 (V . 89, p. 1104) will be advertised in about three
months.
W ashington, Warren County, N . J.—
— The
proposition to issue the $60,000 sewer bonds mentioned in
V. 89, p. 1240, carried by a vote of 207 to 28 at the election
held Dec. 7. Date of offering not yet determined.
Waterbury, Conn.—
— Proposals will be re
ceived until 8 p. m. Jan. 10 1910 by W m . H . Sandland, City
Clerk, for $100,000 4 % water bonds.
F ir s t N a tion a l B a n k , D ick in so n (4 M s )______________________________ 561 ,200
F . E . M a gra w , S t. P aul ( 4 M s ) ________________ ________________________ 60,300
M e rch a n ts’ N a tion a l B a n k , D ick in so n (4 M s )________________________ 60,163
D a k o ta N a tion a l B a n k , D ick in so n ( 5 s )____ ______ __________________ __ 62,445
M c C o y & C o ., C h icago ( 4 M s ) ............... ............................ ......... ........................ 60,000
A . J . H o o d & C o ., D e tro it (to r 5 s )________________________ __________ _ 6 0 ,7 3 5
S . A . K ea n & C o ., C h icago (6 s )__________________________ ___________ 60,360
W o o d ln , M cN ea r & M oore, C h ica go (4 M s )________ ______ ___________ *62,712
M in n esota L oa n & T ru s t C o ., M in neapolis (4 M s )_________________ _
60,300
J o h n N u v een & C o .,'C h ic a g o ( 5 s ) - ___________ _______ _________________ 60,060
* Less 5750 fo r lega l exp en ses.
Bonds Voted.
We are informed that the last three bids mentioned were
received too late to be considered.
Sussex County (P. O. Newton), N. J.— Bond Sale.— Of the
$38,000 4% 30-year coupon road-improvement bonds de
scribed in V. 89, p. 1557, $34,000 were sold on Dec. 13 to
local investors at an average price of 100.75 and accrued
interest. Only $34,000 bonds were sold as it was found that
this amount would be sufficient to pay for the proposed
improvements.
Syracuse, Hamilton County, Kan.— Bonds Voted.— An
election held Dec. 4 resulted in a vote of 116 “ for” to 8
“ against” the issuance of $39,000 5% water-works and elec
NEW
$ 1
LO AN S.
NEW
Bond Offering.
D e n o m in a tio n 5 1 ,0 0 0 .
D ate Jan . 1 1910.
In te r e s t s e m i-a n n u a lly a t
th e C olu m bu s T ru st C o. In N ew Y o r k C ity .
B on d s to be registered if s o
d esired b y purch aser. M a tu rity 510 ,000 y e a rly o n J a n . 1 fro m 1920 to
1929 In clu sive. C ertified ch eck fo r 1 % o f the b o n d s b id f o r , p a y a b le t o
th e C ity T reasu rer, Is re q u ire d .
B on d s w ill be ce rtifie d as to gen u in en ess
b y the C olu m bia T ru s t C o. o f N ew Y o r k C ity .
P u rch a ser to p a y a c c r u e d
in te re st. B ids to be m ade on blank fo rm s fu rn ish ed b y c it y .
NEW
LO AN S.
Village of White Plains, N. Y.
$ 2 5 ,0 0 0
Sewer
Bonds
CITY OF MINNEAPOLIS,
City of Tuscaloosa, Alabama
WATER BONDS.
P U B L I C N O T IC E Is h ere b y g iv e n th a t sealed
prop osa ls will be re ce iv e d b y th e B o a rd o f T ru stees
o f tne V illa ge o f W h ite P lains o n M o n d a y , D e ce m
b er 27 1909, a t 8 o ’ c lo c k p. m ., a t the C o rp o ra tio n
R o o m s , G rand S tre e t, In said villa ge , fo r th e fo l
lo w in g b o n d s. Issued pursu an t to the p ro v isio n s
o f C h a p ter 769 o f th e L a w s o f 1896, an d k n o w n as
th e W a ter A c t :
T w e lv e (12) b on d s o f 5 1 .000 e a c h , bearin g
d a te J a n u a ry 1st 1910 an d p a y a b le in th irty years
fro m the d a te th ereof; Interest p a y a b le sem i
a n n u a lly fro m th e 1st d a y s o f J u ly an d Ja n u a ry.
T h ese b on d s w ill be sold to the person o r persons
w h o w ill ta k e th em a t th e low est rate o f Interest,
su ch rate o f Interest n o t to e x c e e d 4 M p e r ce n t
p er a n n u m .
N o prop osa ls w ill be re ce iv e d fo r less th an par.
A ll p rop osals m u st be a c c o m p a n ie d b y a certified
c h e ck u p o n a S ta te o r N ation a l B a n k o r T ru st
C o m p a n y fo r 5 p er c e n t o f su ch p ro p o s a l. C hecks
o f unsu ccessfu l b id d ers w ill be retu rn ed to th e m .
T h e B oa rd o f T ru stees reserves the rig h t to re
j e c t a n y an d all p rop osa ls.
B y o rd e r o f the B oa rd o f T ru stees.
D a te d W h ite P lain s, N . Y ., D e ce m b e r 7 th , 1909.
F R E D E R IC S. B A R N U M ,
P re sid e n t.
E A R L E P . H IT E ,
C lerk.
F O R R E S T Sc CO.
BANKERS
Municipal and Seasoned
Corporation Bonds
FREE OF TAX
LO AN S.
$25,000
$ 3 0 ,0 0 0 School Bonds
2 , 0 0 0
421 CHESTNUT ST..
Bonds
to Be Offered Shortly.
BONDS
T h e C ity C o u n cil o f T u sca lo o s a , A la b a m a ,
w ill re ce ive sealed b ids u n til 7 o ’c lo c k p . m .
Sealed b ids w ill b e re ce iv e d b y the C o m m ittee
D E C E M B E R 2 0 T H , 1909, fo r th irty th ou san d o n W a y s an d M eans o f th e C ity C ou n cil o f M inne
(5 30,000 00)
d o lla rs
SCH O OL
B O N D S an d a p o lis, M in n esota, a t th e o ffic e o f the u n d e rsig n ed .
tw e n ty -fiv e th o u sa n d (525,000) dolla rs S E W E R T H U R S D A Y , J A N . 8 T H 1910, A T 2 O ’C L O C K
B O N D S o f the C ity o f T u sc a lo o s a , A laba m a .
P . M ., fo r th e w h ole o r a n y part o f T w c n ty -F I v o
B o th Issues o f b o n d s to d ate fro m Ja n u a ry 1st, T h o u sa n d (5 2 5 ,0 0 0 00) D ollars o f F ire D e p a r t
1910, to bear five p er ce n t Interest, interest m en t b o n d s, d a te d J a n u a ry 1, 1910, a n d p a y
p a y a b le sem i-an n u ally.
a b le J a n . 1 1940.
5 10 ,000
00 o f the S ch o o l b o n d s to m atu re In B on ds to bear Interest a t th e rate o f fo u r (4)
ten years, the rem ain in g 520,000 00 to m atu re In p er ce n t p e r a n n u m , p a y a b le J u ly 1st a n d J a n u
tw e n ty years. T h e 525,000 00 S ew er b o n d s to a r y 1st.
m atu re In tw e n ty years.
T h e rig h t to r e je c t a n y o r all b ids Is reserved .
As a g u a r a n ty o f g o o d fa ith a certified ch e ck
A certllled ch e ck fo r tw o (2) p er c e n t o f th e
fo r 52,000 00, p a y a b le t o M a y o r an d A lderm en p a r v alu e o f b o n d s b id fo r , m ade to C. A . B lo o m o f the C ity o f T u sc a lo o s a , m u st a c c o m p a n y each q u lst, C ity T reasu rer, m u st a c c o m p a n y ea ch b id .
b id . T h e C ity C o u n cil reserves the rig h t to
P a m p h le t c o n ta in in g fu ll particu lars w ill bo
r e je c t a n y o r all bid s.
m ailed u p o n a p p lic a tio n .
F o r fu rth e r In fo rm a tio n , add ress,
D A N C. B R O W N ,
W . M . F A U L K , M ayor,
C ity C o m p tro lle r,
T u sc a lo o s a , A laba m a .
M in n eapolis, M in n .
McCOY & COM PANY
HUNT, SALTONSTALl & CO.,
Me mbe rs New Yo rk Stock Exchange
In v estm e n t
60
S e c u r itie s
§T A T E S T R E E T
BO STON
Formerly MaoDonald. MoCoy A Cm.
Municipal and
Corporation Bonds
181 LaSalle Street, - Chicago
J
o
h
H .
n
PHILADELPHIA. PA.
W
a
t k
i n
s
M U N IC IP A L
AND
B L A C K S T A F F
&
C O .
IN V E S T M E N T S
1332 Walnut Streat
PHILADELPHIA
LIST OF SPECIALTIES ON BEQUEST
WE OWN AND OFFER
M U N IC IP A L
BONDS
R A IL R O A D
Tax Exem pt Anywhere la the United State*
W rite ter Partloniars
ULEN, SUTHERLIN & CO.
BIRD 8. COLER
BANKERS
SIT PintItet.BtnkBldg,CHICAGO, ILL
43 CED A R ST., NEW YORK.
INVESTMENTS.
H3TABLIBI1HD 1885
CORPORATION AND
H. C. Speer & Sons Co.
MUNICIPAL BONDS
First Nat. Bank Bldg., Chicago
FIBBT NATIONAL BANK BUILDING C I T Y , C O U N T Y
BONDS
OHIO AGO
A N D SC H O O L
LEONARD H . H O LE.
W . N. C O L E R Sc CO..
Charles M. Smith & Co.
BONDS
No. 2 WALL STREET, NEW YORK
Bank
and
NEW
Trust
C om pan y
Stocks
Y O R K AND B R O O K LY N
B O U G H T A N D SO LD
C LIN TON G ILB ER T,
2 W ALL ST.. NEW YORK.
1617
THE CHRONICLE
D eo . 18 1909. J
Worcester, M ass.— B o n d S a l e . — Adams & Co. of Boston
are reported as being the successful bidders on Dec. 17 for
the following 10-year bonds: $20,000 for sewers, $15,000 for
constructing streets and $20,000 for permanent paving. The
two former issues carry 4 % interest, while the last-mentioned
issue_carries_3 % interest.
, sj <^ yjf
A M
W atertown, M ass.— N o t e O f f e r i n g .— Proposals will be
received until 3 p. m . Dec. 28 by H . W . Brigham, Treasurer,
for the following 4 % coupon notes:
$2,000 school notes dated Sept. 1 1900 and due Sept. 1 1914.
4,000 refunding notes dated Nov. 1 1909 and due Nov. 1 1917.
Denomination $1,000. Date Nov. 1 1909. Interest semi-annually at
the City Trust Co. In Boston. Notes will be certified to as to genuineness
by the City Trust Co. of Boston, which will further certify that the legality
of the Issues has been apporved by Storey, Thorndike, Palmer & Thayer
of Boston. The notes will be ready for delivery Dec. 29 1909.
(^W orthington,!'Nobles County, Minn.— B i d s R e je c t e d — B o n d
S a l e . — W e are informed that all the following sealed bids
received on Dec. 4 for the $12,000 coupon funding bonds de
scribed in V . 89, p. 1500, were rejected on account of an
“ error of $200,000 made in reporting the assessed valuation
of real estate and personal property.”
W ayne County (P. O. W aynesboro), Tenn.— B o n d s V o t e d .
— A proposition to issue $100,000 6 % railroad-aid bonds
was favorably voted by this county on Dec. 8. The vote
was 1,427 “ for” to 85 “ against.” The bonds will not be
issued until the road is completed.
E. H. Rollins & Sons, Chlc--$12,720 C. H. Coffin, Chicago--.........$12,121
Ulcn, Sutherlln & Co., C h ic,. 12,247 F . E. Magraw, St. Paul------ 12,100
S. A. Kean & Co., Chicago.. 12,192 John Nuveen & Co., Chic------12,078
T. J . Bolger & Co., Chicago.. 12,181
W eston, Umatilla County, Ore.— B o n d s V o t e d a n d S o l d .—
An election held Dec. 6 resulted in favor of a proposition to
issue $25,000 5 ) ^ % refunding bonds. Maturity Sept. 1
1924. The vote was 28 “ for” to 12 “ against.” These
bonds have already been sold.
Our informant further adds that oral bids were received
and onefrom the Wells & Dickey Co., Minneapolis, of $12,500
was accepted. The other bids were: Security Trust Co., St.
Paul, $12,466; Kane & Co., Minneapolis, $12,460, and^UVM.
Stoddard & Co. of Minneapolis, $12,410.
jq
^Yam h ill County School District No. 28, Ore.— B o n d ' S a l e .
— The $5,000 coupon bonds (the unsold portion of the issue
of $10,000 5 % 10-20-year [optional] school-house-addition
bonds mentioned in Y . 89, p. 800), have been purchased by
John Nuveen & Co. of Chicago at par and accrued interest.
Youngstown, Ohio.— B o n d S a l e . — Following is a list of
the bids received on Dec. 13 for the four issues of 5 % bonds
described in V . 89, p. 1559:
White County (P. O. Monticello), In d .— B o n d O f f e r i n g .—
Proposals will be received until 12 m. Dec. 24 by M. B.
Spencer, County Treasurer, for $6,050 5 % W iley F . Baker,
et al, Ditch construction bonds.
Interest on June 1 and Dec. 1.
the County Treasurer. Is required.
Certified check for $500, payable to
White Plains, N . Y .— B o n d S a l e . — On Dec. 15 the $100,
000 4 ) ^ % water bonds described in V . 89, p. 1499, were
awarded to Parkinson & Burr of New York City at 106.143—
a basis of about 4 .1 4 1 % . Maturity Jan. 1 1940.
Williams School District (P . O. W illiam s), Colusa County,
Cal.— B o n d s P r o p o s e d . — Bonds for a new school building are
being considered, according to reports, by this district.
W ood River School District (P. O. W ood River), Madison
County, 111.— B o n d s A u t h o r i z e d . — This district has author
ized the issuance of bonds to build a school.
Woodward, Woodward County, Okla.— B o n d S a l e . — On
N ov. 29 the $26,000 5 % 25-year coupon water-works bonds
described in V . 89, p. 1372, were awarded to James N .
Wright & Co. of Denver for $26,255 50 (100.982) and ac
crued interest. The bonds are dated Dec. 1 1909.
IN V E S T M E N T S .
PERRY, COFFIN & BURR
$ 1 ,0 0 0
M a h o n in g A v e ,
sewer bonds.
M IS C E L L A N E O U S .
CA N A D IA N
Adrian H. Muller & Son,
MUNICIPAL BONDS
A U C T I O .V E E R S .
Regular Weekly Sales
OF
S T O C K S and B O N D S
EVERY W EDNESDAY
P. J. G00DHART &
C0.f
B a n k e rs
3T B R O A D W A Y
-
-
NEW
g jfo je ( G m x c u r t m m t J k x j c x m t t l a t x l
3 ‘3 6 W a l n u t » t „ C in c in n a t i
LAW YER
Bank and Trust C o. Stocks
CHICAGO, IL 1 .
MUNICIPAL AND RAILROAD
BONDS
LIST O N A P P L IC A T IO N
Blodget, Merritt & Co.
B A N K E R S
O ffic e , N o . 5 5 W I L .L I A J I S T R E E T ,
C o rn e r c in e stre e t.
YOKE
T e le p h o n e 2 24 0 R e c t o r
F. WM. K R A F T
1312 F I R S T N A T IO N A L B A N K B L D d .
$3,029 00 a$4,418 00
3,053 85
4,398 08
a3,054 00
4,403 00
3,035 00
4,356 00
3,052 10
4,409 10
3,038 50
4.391 OO
3,044 40
4.400 25
3,050 00
4,403 00
3,035 52
IN V E S T M E N T S .
60 State Street, Boston
Specializing in Examination of
$4,295 1
a Successful bidders.
A bid of $11,482 for the 4 Issues was received from the Davies & Bertram
Co. of Cincinnati. All bids Include accrued Interest to date of delivery. j
TORONTO, CANADA
Municipal and Corporation Bonds
$3,000
New First Nat. Bank, Colum.$1,001 50 a$3,043 00
3,040 00
Firemen’s Pens’n F d .,Y ’town_al,009 50
3.034 00
Hayden,Mlller&Co., Cleveland 1,007 00
3,015 00
Otis & Hough, Cleveland___ 1,005 00
3.034 10
First Nat. Bank, Cleveland.. 1,004 70
3,026 00
Citizens’ Nat. Bank, Wooster 1,000 00
3,031 20
Well, Roth & Co., Cincinnati.
--------3,030 50
Seasongood & Mayer, Cine—
--------3,018 70
M. E . Dennison, Y'gstown....................
Breed & Harrison, Cincinnati ---------
W. A. MACKENZIE & CO.,
Investment Bonds
$3,000
garbage (c ity ’ s port’ n) A lbert S tr.
bonds.
bonds, sew er bonds
SEASONGOOD <fe EATER,
Mercantile Library Building
o in ea rn a t i
P . O. B O X 2 7 . M A IN O F F IC E
W A S H IN G T O N , D . C.
O F F IC IA L O R G A N O F T H E A S S O C I A T IO N O F
A M E R IC A N G O V E R N M E N T A C C O U N T A N T S .
i M O N T H L Y M A G A Z IN E O F IN T E R E S T TO
A C C O U N T IN G A N D F I N A N C I A L O F F I C E R S
OF M U N I C I P A L I T I E S . B A N K S , R A I L W A Y S
A N D O T H E R P U B L IO S E R V IC E
CORPOA T IO N S .
TO B E F O U N D IN A L L L E A D I N G C E R T I F I E D
P U B I I C A C C O U N T A N T S ’ O F F IC E S .
Sample Uopy 16 cents. Per Annum $1.60
6 0 S T A T E .S T R E E T , U D S T O N
3 0 P IN E S T R E E T , N E W -W O R K
STA TE, CITV & R AILR O A D
BONDS
P IL E C O V E R S
CHRONICLE
AND SUPPLEMENTS
String file covers may be had for holding the CHRONICLE and Supplements.
T he a u d it C ompany
or n e w Y ork..
“ T h e O ld e s t a n d F o r e m o s t”
Home Office
City
Investing
Building
Broadway
Branches—Chicago, Philadelphia, Boston,
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165
C O N F ID E N T IA L A U D IT S , IN YEST1
G ATIO N S A N D E N G IN E E R
IN G APP R AISALS
THE REPORTING OF INDISPUTABLE
FACTS
CHRONICLE AN D A L L SUPPLEMENTS (six months’ issues), Black Cover.
SUPPLEMENTS ONLY (Year’s issues), Red Cover.
SEPARATE COVERS for each of the Supplements (year’s issues), Red Cover.
The Supplement file covers will be found convenient for preserving
they can be gathered together in a bound volume.
The CHRONICLE will be bound in volumes containing six months’
ments in a separate volume of six months or a year’s issues, as desired.
to bind all the Supplements In the same volume with the CHRONICLE,
Price for Pile C overs, 5 0 C en ts.
them for a year, when
issues, and the Supple
It is no longer possible
as formerly.
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Charge for Binding V o lu m es, $1 5 0 .
C O M M E R C IA L * FINANCIAL CHR O NICLE,
FRONT, PINE AND DEPEYSTER STREETS, NEW YORK
1618
THE CHRONICLE
C a n a d a , its
P r o v in c e s
and
M u n ic ip a litie s .
Camrose, A lta .— D e b e n t u r e O f f e r i n g . — Proposals will be
received until Jan. 1 1910 for $6,000 6 % debentures. Ma
turity part yearly for twenty years. O. B . Olson is Secre
tary-Treasurer.
Coblenz School District N o. 2251 (P . O. Coblenz), Sask.—
D e b e n t u r e S a l e . — This district has sold $1,800 6 % 10-year
debentures to Tracksell, Anderson & Co. for $1,856— the
price thus being 103.111. Date N ov. 8 1909. Interest
annually in December.
Czem ovitz School District No. 2341 (P. O. Theodore),
Sask.— P r i c e P a i d f o r D e b e n t u r e s .— W e are informed that the
price paid for the $1,000 5 ) 4 % school-building and equipping
debentures disposed of during September to Nay & James of
Regina (V . 89, p. 1027) was 100.325. Date Oct. 30 1909.
Interest annually in January. Maturity part yearly on
Jan. 12 from 1911 to 1920 inclusive.
Glenavon School District No. 2,446 (P. O. Glenavon),
Sask.— P r i c e P a i d f o r D e b e n t u r e s . — W e are informed that
par was the price paid by Nay & James of Regina for the
$1,500 5 } / i % school-building debentures, the sale of which
was mentioned in V . 89, p. 743. Date N ov. 1909.
Interest
annually in January. Maturity part yearly for 10 years.
Good Hope School District N o. 660, Alberta. — D e b e n t u r e
S a l e . — Nay & James of Regina recently bought $750 5 ) 4 %
school-house debentures for $751 25— the price thus being
100.166. Date Jan. 1 1910. Interest annual. Maturity
part yearly for ten years.
Hawarden School District No. 2,339 (P. O. Hawarden),
Sask.— D e b e n t u r e S a l e . — An issue of $2,500 10-year school
building debentures was disposed of on N ov. 1 to Nay &
James of Regina at par for 5 j^ s. Date N ov. 8 1909. In
terest annual.
Jonquieres, Chicoutimi'County,' Que.— D e b e n t u r e O f f e r i n g .
— This village is offering for sale $12,000 5 % 40-year waterworks-extension debentures.
Kipling School District, Sask.— D e b e n t u r e S a l e . — Nay &
James of Regina have purchased $14,000 5 ) 4 % debentures
of,this district.
Maturity part yearly for twenty years.
r
[V O L . L X X X IX
Lucknow, Ont.— D e b e n t u r e S a l e . — Reports state that
$ 3 ,500 5 % civic-building debentures due part yearly for
fifteen years have been awarded to Geo. A . Stimson & Co.
of Toronto.
M aidstone," Sask.— D e b e n t u r e * * O f f e r i n g . — J. L. Courtice,
Secretary-Treasurer, is offering for sale $2,000 permanent
improvement debentures.
Newmarket, Ont.— D e b e n t u r e O f f e r i n g . — Proposals will be
received until 12 m. Dec. 20 by J. E . Hughes, Town Clerk,
for $20,000 5 % permanent improvement debentures. Int
erest annual. Maturity part yearly for 20 years. These
securities were offered without success as 4s on Sept. 29.
V . 89, p. 954.
Ottawa, Ont.— D e b e n t u r e E l e c t i o n . — On Jan. 3 1910 the
ratepayers will vote on a by-law to issue $45,000 4 % deben
tures for a garbage-disposal system.
Ottawa Separate School District (P. O. Ottawa), Ont.—
W e see it reported that R . Wilson Smith
of Montreal has purchased $160,000 4 y 2 % 30-year school
building debentures.
.
D e b e n t u r e S a l e .—
Point Grey, B. C.— D e b e n t u r e S a l e . — This place, it is re
ported, has awarded $28,000 5 % 25-year school debentures
to W ood, Gundy & Co. of Toronto.
Richmond Township, B . C.— B i d s R e j e c t e d . — All bids re
ceived on Dec. 1 for the $275,000 water and $75,000 road
4 ) 4 % coupon debentures described in V . 89, p. 1444, were
rejected.
St. Jean School District N o. 1508, Man.— D e b e n t u r e S a l e . —
Reports state that this district has sold $800 6 % 10-year
debentures to II. O’Hara & Co. of Toronto.
Sudbury, Ont.— D e b e n t u r e O f f e r i n g . — Proposals will be
received at once by Robert Wright, Township Clerk (P. O.
Massey Station), for $1,400 6 % debentures. Maturity
part yearly for 10 years.
_ Winchester, Ont.— D e b e n t u r e S a l e . — An issue of $12,249
5 % debentures for the construction of cement sidewalks
was awarded recently, it is stated, to Geo. A . Stimson & Co.
of Toronto. Maturity part yearly for 20 years.
M IS C E L L A N E O U S .
ACCO UN TAN TS.
O F F IC E O F T H E
A T L A N T IC M U T U A L
IN S U R A N C E C O M P A N Y .
N ew Y o r k , J a n u a ry 21st, 1900.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affaira
on the 31 si of December, 1908.
P rem iu m s o n M arine R isk s fro m 1st J a n u a ry , 190 8, to 31st D e ce m b e r , 19 0 8 ____________ $ 3,307,807 24
743 ,389 01
P rem iu m s o n P o licie s n o t m a rk ed o il 1st J a n u a r y , 19 0 8 ------------------------------------------------------T o t a l M arine P re m iu m s ________________________________________________________________________ $4,0 5 1 ,1 9 6 25
Arthur Young & Co.
Certified Public Accountants
(IL L IN O IS )
P rem iu m s m ark ed o il fro m 1st J a n u a ry , 1908, t o 31st D e ce m b e r, 1908____________________ $3,333,483 55
In terest re ce iv e d d u rin g th e y e a r ______________________________ $307,823 39
R e n t less T a x e s a n d E x p e n s e s _________________________________ 142,032 22
$44 9,85 5 61
L osses p aid d u rin g th e y ear w h ich w ere estim a ted In 1907
an d prev iou s y e a r s ___________________________________________ $420,655 46
Losses o c c u r re d , estim a te d a n d paid In 190 8_________________ 1,274,822 22 $1,6 9 5 ,4 7 7 68
Less S a lv a g e s__________________________ $279,988 33
R e-In su ran ces__________________________
199 ,555 37
New Y ork, 30 Pine Street
M ilw aukee. 033 VVH I. Hid?
Chicane, 1313 Monadnock Hloek
K a u a i City, 1106 Comineree Bldg.
479 ,5 4 3 70
$1,215,933 98
R etu rn s o f P re m iu m s __________________________________________________________
E x p en ses, Inclu din g offic e r s ’ salaries an d cle rk s' c o m p e n s a tio n , sta tio n e ry ,
n ew sp a p ers, a d v ertisem e n ts, e t c ___________________________________________
$51 ,9 3 0 45
$344,266 85
A S SE TS.
L IA B IL IT IE S .
U n ited S tates & S tate o f N ew Y o r k
S t o c k , C it y , B a n k a n d o th e r Se
c u r it ie s ............................
$ 5 ,4 4 2 ,7 9 2 00
S p ecial d ep osits In B anks & TrustC os.
8 0 0 ,0 0 0 00
R e a l E sta te c o r . W all & W UUamSts.,
& E x ch a n g e P l a c e . $4,2 9 9 ,4 2 6 04
O th e r R ea l E sta te &
cla im s d u e th e c o m
p a n y ............................
7 5 ,000 00 4 ,3 7 4 ,4 2 6 04
E stim a te d L osses an d Losses U n
settled __________________ ______
$2,310,433 00
P rem iu m s o n U n term in ated R is k s .
717,712 70
CertIU catcs o f P rofits an d In terest
U n paid __________________________
260,822 35
R etu rn P rem ium s U n p a i d . . .............
121,473 65
C ertificates o f P rofits O rd ered R e
d e e m e d , W ith h eld fo r U npaid
P r e m i u m s ________________________
2 2 .339 36
Certificates o f P rofits O u tsta n d
in g ---------------------------------------------7 ,3 6 3 ,4 1 0 00
R e a l E sta te R eserve F u n d ____
2 70 ,000 00
P rem iu m n otes an d B ills R e c e iv a b le
Cash In the han ds o f E u rop ean
B ankers to p a y losses u n d er poli
cies p a y a b le In fo re ig n c o u n tr ie s .
Cash In B a n k ________________________
1 ,3 7 7 ,9 0 5 06
L Y B R A N D ,
R O S S B R O S &
M O N T G O M E R Y
Certified Public Accountant*
( P e n n s y lv a n ia )
L a n d T i t l e B u ild in g
P H IL A D E L P H IA .
City Inventing Bldg., 103 Breadway
NEW Y O ltli.
U n io n B a n k B u ild in g
P I T T S It U i t (411.
P lr e t N a t io n a l H an k B ld g .,
C H IC A G O
399,031 95
4 29 ,950 18
A g g re g a tin g _______________________$ 1 2 ,8 2 4 ,1 0 5 23
A g g re g a tin g ..........................................$ 1 1 ,066 ,19 1 05
A d iv id e n d o f Interest o f Six per ce n t o n the o u ts ta n d in g certificates o f p rofits w ill b e paid t o the
h olders th ereof, o r th eir legal rep resen tatives, o n and a fte r T u e sd a y the se co n d o f F eb ru ary n e x t.
T h e ou ts ta n d in g certificates o f the Issue o f 1903 w ill be redeem ed an d paid t o th e h olders th e re o f,
o r th eir legal rep resen tatives, o n and a fte r T u e sd a y the se co n d o f F eb ru ary n e x t, fro m w h ich d a te all
Interest th ereon w ill cease. T h e certificates to be p ro d u ce d a t the tim e o f p a y m e n t an d ca n ce le d .
A d iv id e n d o f F o r ty p e r c e n t Is d eclared o n th e n et earned prem iu m s o f the C o m p a n y fo r th e year
e n d in g 31st D ece m b e r, 1908, fo r w h ic h , u p o n a p p lic a tio n , certificates w ill be Issued o n a n d a fte i
T u e sd a y th e fo u r th o f M a y n e x t .
B y order o f the B oa rd .
Q . STAN TO N F L O Y D -J O N E S . S ecretary.
J A M E S
P A R K
&
C O .
C E R T IF IE D P U B L IC AO O O U N TA N T S
New York, Chicago, Cincinnati and
London, England.
A U D IT O R S
FOR
F IN A N C IA L
IN B T IT B *
T IO N S , IN D U S T R IA L A N D
M IN IN G C O M P A N IE S
Investigations, Financial Statem ent!.
Periodical Audita and AoooonUag.
TRU STEES.
G U S T A V A M S IN C K ,
F R A N C IS M. BA CO N .
JO H N N. BE A C H .
W IL L IA M B . BO U LTO N .
VERNON H. BROW N,
W ALD RO N P. BROW N .
JO H N C L A F L IN ,
G E O R G E C. C L A R K ,
CLEVELAND H . DODGE.
C O R N E L IU S E L D E R T ,
R IC H A R D H . E W A R T
H E R B E R T L . G R IG G S ,
C L E M E N T A . G R IS C O M ,
AN SO N W . H A R D .
L E W IS CA SS L E D Y A R D ,
F R A N C IS H . L E G G E T T ,
C H A R L E S D . L E V E it I C H ,
LEAN DER N. LOVELL,
G E O R G E H . M fiC Y,
CH ARLES H . M ARSH ALL.
W . H . H . M OORE,
N IC H O L A S F . P A L M E R .
H E N R Y P A R IS H ,
DALLAS B. PR A T T.
G E O R G E W . Q U IN T A R D .
A. A. RAVEN ,
JO H N L. R IK E R ,
D O U G L A S R O B IN S O N .
GUSTAV H . SC H W A B,
W IL L IA M S L O A N E ,
IS A A C S T E R N ,
W IL L IA M A . S T R E E T .
A . A . R A V E N , President.
C O R N E L I U S E L D E R T , Vice-President.
S A N F O R D E . C O B B , 2d Vice-President.
C H A R L E S E . F A Y . 3rt Vice-President.
J O H N H . J O N E S S T E W A R T . 4th Vice-P retiden
ALFRED ROSE & CO.,
CERTIFIED PUBLIC ACCOUNTANT*
56 Pina Straat, - NEW YORK
Telephone 4361 John.
LOOMIS, CON ANT & CO.
CERTIFIED PUBLIC A C C O U N T A N T .
SO B r o a d S t r e e t . N e w Y o r k
TeL 4958 Broad.
@FedFRASER