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financial
The
.
INCLUDING
Electric Railway Section
State and City Section
Railway & Industrial Section
Bankers' Convention Section
Bank & Quotation Section
Railway Earnings Section
NO. 2479
SATURDAY, DECEMBER 28 1912
VOL. 95
Week ending December 21.
The Thronicte..
Clearings at
1912.
PUBLISHED WEEKLY.
A
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CHICAGO OFFICE
LONDON OFFICE-Edwards & Smith,1 Drapers' Gardens, E. C.
WILLIAM B. DANA COMPANY, Publishers,
Front. Pine and Depeyster Ste.,
P.O. Box 958.
New York,
Published every Saturday morning by WILLIAM B. DANA COMPANY.
Jacob Seibert Jr., President and Treas.; George S. Dana and Arnold CI. Dana,
-Presidents; Arnold G. Dana, Sec. Addresses of all, Office of the Company.
Vice
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates that the
total bank clearings of all clearing houses of the United States for the week
ending Dec. 28 have been $2,926,154,492, against $3,616,572,234 last
week and $2,714,295,186 the corresponding week last year.
1912.
1911.
Per
Cent.
$1,309,188,007
105,097,191
118,722,560
27,102,423
223,715,041
60,005,669
15,691,911
$1,154,166,432
101,812,082
114,565,605
22,409,473
195,299,744
55,123,385
15,506,037
+13.4
+3.2
+3.6
+20.9
+14.6
+8.9
+1.2
1,859,522,802
475,213,407
$1,658,882,758
420,208,403
+12.1
+13.1
2,079,091,161
635,204,025
+12.6
-6.9
-Returns by Telegraph.
Clearings
Week ending Dec. 28.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
Seven cities five days
Other cities, five days
Total all cities, five days
All cities, one day
2,334,736,209
591,418,283
+7.8
$2,714,295,186
The full details for the week covered by the above will be given next
Saturday. We cannot furnish them to-day, clearings being made up by the
Clearing houses at noon on Saturday, and hence in the above the last day of
the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday
noon, Dec. 21, for four years,
Total all cities week
$2,926,154,492
Week ending December 21.
arin s at
1912
New York
Philadelphia
Pittsburgh
Baltimore
Buffalo
Albany
Washington
Rochester
Scranton
Syracuse
Reading
Wilmington
Wilkes-Barre
Wheeling
Trenton
York
Erie
Binghamton
Greensburg -Chester
Altoona
Lancaster
Montclair
rtitude
1911.
Inc. or
Dec.
1910.
I
1909.
%
$$
$
$
2,048,692,159 1,833,819,805 +11.7 1,722,319,41011,808,310,000
17 136,406,199
175,075,667 158,542,286 +10.4 143,911,96
52,238,467
48,880,419
53,662,650 +1.6
54,821,919
32,036,047
26,893,185
43,491,949
35,915,726 +21.1
9,142,773
9,423,618
12,375,274
10,277,010 +20.4
4,599,330
4,656,784
7,351,169
6,055,816 +21.4
6,693,440
7,043,785
7,504,328
7,549,621 -2.0
3,046,850
5,707,558
4,740,245 +20.3
3,608,178
2,933,918
2,412,960
2,603,841
2,666,960
+8.9
2,701,246
2,347,363 +15.1
1,841,981
2,072,139
1,941,058
1,658,930 +17.1
1,397,839
1,425,428
1,595,441 +22.1
1,960,165
1,528,230
1,344,779
1,618,410 +6.5
1,474,960
1,613,607
1,377,221
1,938,407 +17.7
1,893,320
2,281,519
1,430,328
1,776,877 +22.8
1,718,476
1,542,175
2,181,514
1,027,696 -3.0
979,178
787,700
996,858
909,242 +21.6
812,336
836,641
1,105,076
499,300 +27.7
486,600
398,300
637,400
496,806
650,007 -.4.9
480,093
618,417
597,124 +28.1
561,661
452,222
765,987
522,306 +24.3
500,870
409,146
649,050
948,958
1,566,699
913,432 +71.5
692,108 Not included in total
or
Total Middle_ 2,377,867,994 2,129,211,535
170,140,629 172,584,103
Boston
9,930,100
7,724,600
Providence
4,660,785
4,478.214
Hartford
3,128,635
2,919,992
New Haven
2,712,003
2,301,673
Springfield
2,015,000
1,954,839
Portland
2,489,595
2,447,655
Worcester
1,476,974
Fall River
1,288,280
New Bedford
1,177,591
1,046,442
Lowell
526,498
575,000
Holyoke
607,844
652,182
Bangor
519,434
543,245
+11.7 1,993,083,886 2,058,964,426
-1.4 158,674,547 149,704,252
7,821,400
+28.6
7,592,800
+4.1
3,460,389
4,300,486
+7.2
2,704,102
2,944,537
+18.0
1,900,000
2,064,383
+3.1
1,701,795
1508,178
+1.7
2,094,584
1,625,604
1,159,580
+14.8
1,073,005
1,015,623
+12.5
1,203,289
+9.2
428,295
603,277
+7.3
481,829
509,864
+4.6
inn tai ',n tr. nog A74.
-LA ft
159 11119 517
171
For Canadian Clearings see 'Commercial and Miscellaneous News
trot Now MnD.
n
12110 9M)
1911.
Inc. or
Dec.
1910.
1909.
$
3hicago
319,607,874
3ineinnati
29,267,900
neveland
24,303,677
3etrolt
25,633,685
dilwatikee
15,566,846
ndianapolis
8,630,856
Jolumbu.s
7,047,900
Coledo
5,229,747
'eerie
4,096,631
3rand Rapids..
3,187,393
3ayton
2,576,119
•i'vansville
2,649,002
{alamazoo
874,018
3pringtield, Ill_
1,253,307
1,238,532
i'ort Wayne
Voungstown
1,483,247
,exington
1,182,552
%Iron
2,166,000
lickford
887,601
Canton
1,537,770
Bloomington__ _ _
782,171
785,504
4uincy
1,669,143
South Bend
725,852
Springfield, 0
588,075
Decatur
459,836
Mansfield
582,068
Fackson
488,920
Danville
535,735
Ama
338,480
Facksonville, Ill_
404,000
[..ansing
219,407
Ann Arbor
373,283
3wensboro
32,033
kdrian
Tot. Mid.West 466,405,164
56,153,565
ban Francisco.-25,051,485
Los Angeles
11,987,288
Seattle
4,711,956
Spokane
7,531,380
Salt Lake City
Portland
11,808,313
4,073,203
Tacoma
)akland
3,900,251
Sacramento
1,946,885
2,827,999
San Diego
1,318,047
Fresno.,
971,319
Stockton
999,516
Pasadena
658,238
San Jose
409,266
Vorth Yakima
285,143
len°
Total Pacific
134,633,854
$
$
$
%
290,276,766 +10.1 272,327,895 235,159,485
26,026,900
25,217,400
26,762,700 +9.4
18,414,840
19,659,182
21,618,293 +12.4
18,303,813
13,870,873
21,808,516 +17.5
13,584,818
9,934,519
13,716,343 +13.5
8,546,469 +1.0
9,682,540
7,284,420
6,146,500 . +14.7
6,714,100
6,732,100
4,898,432
5,168,417
4,876,879 +11.8
3,561,496
2,557,613
3,105,488 +31.9
2,484,517
2,984,954 +6.8
2,086,807
2,138,704
2,248,804
1,940,634 +32.8
2,734,292
2,191,804
2,581,742 +26.3
752,381
695,880
726,575 +20.4
1,162,066
1,134,605 +10.5
1,117,873
791,416
1,117,921 +10.8
888,396
1,122,898
1,170,962
1,512,148 -1.9
880,679 +34.3
1,119,545
865,486
1,655,979 +30.9
1,258,900
1,096,900
828,613 +7.1
791,520
938,487
1,172,875 +31.1
884,296
1,122,869
594,366 +31.6
620,852
462,856
586,136 +34.0
553,874
580,647
504,400 +230.9
486,437
410,667
497,909 +45.8
533,760
461,278
406,659 +44.8
502,465
466,772
378,272 +21.4
435,581
427,487
486,000 +19.8
405,000
368,199
515,135 -5.2
404,479
363,915
385,220 +39.1
419,944
307,391
316,433
326,122
274,800 +23.3
350,000
400,000 +1.0
177,476 +23.6
206,331
173,330
720,350 -48.2
492,256
400,000
19,031
29,366 +9.1
37,056
419,150,768 +11.3 396,201,496 304,063,816
37,398,991
46,843,697 +19.9
43,008,190
21,000,000 +19.3
16,036,307
11,735,806
10,123,749
11,238,864 +6.7
10,342,077
4,511,351
+4.4
4,480,876
4,150,000
8,789,527 -14.3
7,421,305
6,074,941
10,000,000 +18.1
9,000,000
7,400,000
4,552,077 -10.5
4,520,829
5,352,598
3,513,947 +11.0
3,453,082
1,669,948
1,934,047 +1.1
1,443,037
1,150,510
2,000,000 +41.4
1,200,000
910,000
971,770 +35.7
786,507
740,181
861,742 +12.6
684,450
615,838
500,000
947,822 +5.5
659,743
667,290 -1.4
508,756
439,329
396,624 +3.2
420,000
464,928
300,000 -4.9
275,000
270.000
89,170,219
118,518,758 +13.6 104,006,749
<eases City._
58,785,082
Minneapolis:-_
32,000,000
)maha
18,296,764
St. Paul
11.173,217
Denver
10,178,213
7,886,416
St. Joseph
6,157,875
Duluth
4,530,641
Des Moines
2,500,000
Sioux City
3,418,452
Wichita
1,830,000
Lincoln '
1,929,505
Topeka
Davenport
1,476,192
' 610,821
Fargo
1,316,112
Eielena
1,682,209
Cedar Rapids
1,111,693
Pueblo
1,327,961
Waterloo
659,406
Colorado Springs
Fremont
•
280,417
Billings
582,919
listings
203,005
tberdeen350,000
Total oth.West • 168,287,000
52,986,382
25,905,844
14,248,243
10,540,324
9,401,805
7,631,608
4,754,044
4,182,959
2,409,516
3,405,912
1,796,909
2,299,613
1,668,749
804,875
1,120,578
1,185,652
791,702
1,019,871
815,613
262.748
250,000
160.606
323,525
148,075,393
St. Louis__ --- _
89,817,907
84,350,571
26,469,222
Slew Orleans____
24,896,022
Louisville
15,395,231
13,686,287
Elouston
25,070,100
19,604,818
11,169,000
Dalveston
9,604,500
Richmond
9,378,896
9,341,383
Memphis
11,646,819
9,451,715
17,124,105
Atlanta
17,906,121
Fort Worth
9,900,000
7,946,125
Savannah
8,278,404
8,212,424
Nashville
8,133,110
5,189,770
Norfolk
4,875,371
4,166,786
Birmingham
3,232,190
2,786,070
Augusta
2,718,900
2,384,205
Jacksonville
3,550,000
3,585,000
2,874,839
2,208,038
Little g ock
2,598,962
Chattanooga..... _
2,453,208
Knoxville
1.917.666
1,871 274
2,091,517
Charleston
2,366,229
1,821,865
Mobile
1,466,429
Dklahoma
1,771,482
1,828,360
4,620,198
Macon
5,113,147
Austin
2,119,369
1,430,523
Vicksburg
550,000
430,033
Wilm'ton, N. C.
725,000
750,000
Jackson
494,678
553,624
Muskogee
865,329
852,129
Tulsa
1,166,323
680,004
Total Southern 270,376,483 245,104,593
Total all
3,616,572,234 3,258,470,641
Outside N. Y
1,567,880.07511,424,650,8161
+10.9
+23.5
+28.4
+6.0
+8.3
+3.3
+29.5
+8.3
+3.6
+0.4
-1.8
-16.1
-11.5
-24.1
+17.5
+41.9
+40.4
+30.2
-19.1
+6.4
+62.7
+26.4
+8.2
+13.6
53,283,796
22,330,726
15,082,506
10,413,196
9,459,140
6,811,072
3,734,396
5,826,882
2,446,370
3,429,626
1,650,752
2,160,107
1,663,453
912,432
1,175,025
1,231,590
745,012
1,012,280
562,430
307,755
145,285
182,225
413,177
143,039,233
43,865,875
24,262,469
11,763,406
9,045,551
8,269,607
6,697,308
5,193,615
3,001,631
2,426,236
2,971,136
1,222,044
1,417,048
1,212,240
1,133,666
962,338
954,100
691,822
843,586
502,658
325,751
228,922
400,000
127,391,007
+6.5
65,103,243
76,833,649
+6.3
21,537,663
25,346,419
13,106,201
13,650,641
+12.5
13,230,411
12,000,000
+27.9
9,725,000
6,950,500
+16.3
7,174,167
7,633,628
+0.4
5,968,236
+23.2 • 9,951,611
16,087,510
11,961,194
-4.4
+24.6
8,014,571
6,339,023
+0.8
8,883,556
5,181,238
+56.7
4,183,793
3,710,520
+17.0
4,039,072
3,455,553
+16.0
2,350,000
2,762,808
2,862,088
+14.0
4,395,350
1,996,045
-1.0
2,983,343
1,603,234
+30.2
2,301,424
1,907,337
2,350,280
+5.9
1,534,361
1.640.994
+2.5
2,211.831
1,878;887
-11.6
1,898,897
1,375,987
+24.2
2,250,000
2,075,000
-3.1
5f692,280
-9.6
1,850,283
2,043,676
+48.2
706,305
+27.9
413,550
3 44,383
796,505
627,576
-3.3
568,000
700,000
-10.7
+1.5
+68.6
+10.3 229,476,259 184,702,462
+11.0 3,049,370,000 2,975,039,669
+10.1 1,327,050.790 1,116,729,66
1704
THE CHRONICLE
CHRONICLE INDEX.
The index to Volume 95 of the "Chronicle"—
which volume ends with the issue of Dec. 28—will
be sent to our subscribers with the number for
Saturday, Jan. 11.
_Lxxxxv.
universe - forbid. Inequalities and injustices and
private wrongs continue, but their relative number
and force gradually lessen. If we would but stop
idling and hating and denouncing and suspecting,
we should get the best lesson of a year in which
Nature has been bountiful while man keeps discordant.
THE FINANCIAL SITUATION.
As a part of the study of the difficult problem of
The announcement that increases in wages have been
voluntarily ordered in the U. S. Steel Corporation an adequate and permanent improvement of the
marks perhaps the largest in immediate amount of piers of New York, Mr. Gustav Lindenthal, at one
all the corporation Christmas gifts which have become time engineering head of the Bridge Department,
matter of public knowledge. The City Bank had writes to the "Times" to bring forward an old
adopted a pension scheme which is nominally non- proposition, a bridge over the Hudson. The city
contributory, yet, as has been remarked in respect needs more water-front, he says, and can get it
to some railway pensions, is really contributory in only by inducing the railroads to abandon some of
the most effectual and deserving way, inasmuch as the nearly 4,000 feet they now occupy below 65th
the beneficiaries have been contributing many years Street. It is the contention of the Docks Comof continued faithful service. The tendency is more missioner that they ought to build new modern
marked among corporations to establish pension and freight terminals back of the river front, and he
death benefit plans in lieu of (sometimes in addi- has prepared plans for an elevated freight road from
tion to) gratuities at this annual season. The 65th Street to the Battery, with various spurs there"group" plan of life insurance has offered opportunity from. This road it is proposed to connect by
and incentive to a custom of substituting insurance tunnels under the river and Bergen Hill with a large
for presents of cash.
classification and distribution freight yard someThere is hardly an important railway or other large where on the New Jersey meadows, with food marcorporation which has not already inaugurated or kets beneath the tracks at the street level.
is not putting into shape for announcement some plan
A bridge seems indicated by existence of sufficiently
of pension or other benefit for its employees. There high opposite banks, but those involve grades, as
is much similarity among them, and it would be al- the tunnels certainly do. Mr. Lindenthal thinks
most invidious to specify them; still, it is worth the city will never use rashness and harshness in
noting that some of the corporations which have lately forcing the railroads from the water-front, and that
joined in this line of altruism are among those especial- the roads which come from New Jersey will probably
ly held up to the view of people remote from cities prefer tunnels, notwithstanding the severer grades,
as being very wicked. An investigating committee, because of the apparently lower construction cost.
led by men whose notion of banking apparently is He sees, however, additional functions for a bridge
that deposits are actual money, and who probably in general traffic, especially with motor vehicles,
suppose the total transactions of a clearing house which are now restricted to very slow ferry movement
represent money handled and possibly "locked up," for getting across the river; but he admits the hopeinstead of fructifying a thirsty land, is sure to offer lessness of expecting that a bridge could ever earn
more fuel to sectional jealousies and to further the interest without the railroad traffic. On the other
pestilent delusion that wealth is greed and property hand, his favorable view is that a bridge for all
is robbery. The people who suspect conspiracies kinds of traffic combined could after a few years
everywhere and long for heavy tax laws wherewith produce enough to cover interest and sinking fund.
to smite the rich never ask themselves how it can be At first, he thinks,it might be necessary to get part
that the object of every man's desire can be every of the funds (to be later reimbursed) from the inman's enemy, nor do they note that the most earnest crement value of real. estate within a certain radius
study of capital is how to keep itself constantly in on the New Jersey side, or that real estate interests
productive work, and that it dislikes nothing so much should join with transportation companies to furnish
as to be "locked up," except, of course, to be lost the funds required.
by mistakes or be taxed out of existence. Yet an
Mr. Lindenthal does not exhibit an overflowing
investigation which sets out to make an array of enthusiasm and he avoids details and figures; yet he
evidence to discover and convict the Money Trust has a vision of the future. The real estate just
and finds, against its apparent desire, that this suggested as proper to take a large part of the initial
monster is only a Boojum Snark, cannot avoid doing burden he is sure would get a multiple appreciation
something towards general enlightenment.
in value. This bridge seems to him a natural
It would be happy indeed if we could all learn, complement to those which already join Manhattan
at this Christmas time if never before, that peace with Brooklyn and Queens; "it would effectually
is the atmosphere of general prosperity and that settle the question of the isolation of New York from
cheerful industry and a firm belief in the world's the remainder of the continent and the direct fusing
progress are the means of promoting it. Prosperity of this part of the metropolitan area with the rest of
for a few and adversity for the mass; the goods of the city for its benefit." The vision is larger, for
this life with a small number of greedy Midases and the large plateau on the New Jersey side, nearly
all the rest groaning hopelessly—this is stock in 20 miles long and averaging a mile in width, "is
trade for the caricaturists of some newspapers and an ideal place for a large city, now almost undeveloped
for orators who preach hate and fire, but it is more and inaccessible." And conceive this:
than unreal; it is impossible. If it were desired by
"A bridge would produce there another Brooklyn
a few men of power but without heart, they could within the metropolitan area and dependent on
not accomplish it. There is no prosperity possible Manhattan as a business and supply center; looking
which does not distribute itself to all; the laws of the into the future, the bridge would thus create populous
DEC. 28 1912.]
THE CHRONICLE
and wealthy communities, and additional bridges
would follow in due tithe, as over the East River."
This seems a bold jump in foreseeing imagination,
and the general impression is unfavorable to any
more bridges. Yet the whole vast problem of the
port is in agitation as perhaps never before. The
Sulzer Bill to authorize "re-locating" the pierhead
line below 30th Street by drawing imaginary straight
lines between certain points and thus permitting
extensions of some piers which now fall well within
such lines has a fair prospect of going through as a
temporary relief measure, although it may be opposed by some who see visions of the possible future
of Brooklyn as more than the huge bedroom it used
to be called. An interesting incident of last week
was also the "Port Conference", which seems
to have been an idea of Mr. Tomkins; an organization was effected under the name of the National
Association of Port Authorities, and some good may
come from exchange of information and a consequent
tendency to lighten sectional asperities.
Press dispatches from London suggest that the
swing of the political pendulum is once more in favor
of the Asquith Government. This has resulted from
dissatisfaction in the Unionist ranks rather than from
any popular action of the present Government.
There are indications that a change in the Unionist
leadership may occur, and that A. J. Balfour may
resume his old position as leader, owing to a recent
"break" made by his successor, A. Bonar Law. The
latter has taken a position on the tariff that is not
liked by his constituents and associates. Speaking
at Ashton-under-Lyne on Monday on the tariff,
he protested against submitting food duties to a
British referendum, as has been suggested by Lord
Lansdowne, on the ground that it would tie the
hands of the colonies. His idea, he said, was to let
the colonies decide whether foodstuffs be taxed. It
is intimated by the dispatches in question that, as a
result of this postiton, Mr. Law no longer possesses a
single supporter of any prominence in the ranks of
his own party, unless F. E. Smith be excepted, and
even the latter has not been warm in his backing.
Usually, after a party leader has made a big speech
in the country, his next appearance in the House of
Commons is a signal for rousing cheers from his partisans. When Mr. Law entered the House on Tuesday his reception was so cold as to leave no doubt as
to its meaning. The London "Times" suggests directly that Mr. Law's usefulness as the Unionist
Party leader is at an end. "The Unionist leaders,"
it says, "must not attempt to shift the onus of food
taxation on to a conference of Ministers from oversea. If such taxation be not desirable purely
as a measure of domestic reform, then it is
not desirable at all. If the people of this country
will not believe in it as such, they must not be asked
to believe in it on the strength of opinion elsewhere.
No Dominion statesman would dream of dealing
with the Dominion tariff on such lines as those.
No statesman must dream of it here."
The efforts of the Balkan delegates in London to
reach a satisfactory basis of peace have thus far been
without definite result. The situation remains similar to that of a week ago, when each side, the allies
on one and Turkey on the other, were offering peace
proposals which were so preposterous in themselves
that there was no possibility of reaching terms.
1705
Sessions were held on Saturday and on Monday, the
allies on the latter day presenting their demands, and
an adjournment was taken so that Turkey might
consider accepting or rejecting the proposals. Conferences will be resumed to-day (Saturday). It is to
be hoped that more tangible results will be obtained
during the coming week. Each side will probably
modify the demands until, step by step, they will
become sufficiently reasonable so that final agreement
can be reached. At the session on Monday the
allies read the first article of the conditions on which
they are willing to conclude peace with Turkey.
This article, which related solely to territorial demands, called for the surrender by Turkey of all the
Ottoman possessions in Europe to the west and north
of a line drawn from near the Gulf of Saros to near
Midia, on the Black Sea. The territory which the
Sultan would give up under this proposal includes
Albania (on which the Powers have decided to confer
autonomy under Ottoman suzerainty), Macedonia,
and the greater part of Thrace. Adrianople and
Kirk-Killisseh are within the limits of the area which
the Balkan States demand. The allies also insist
upon the cession of the Turkish islands in the Aegean
Sea and the abandonment by Turkey of all rights in
Crete, which would become a Greek possession. To
the Sultan would be left the vilayets of Constantinople
and Chatalja, with a strip along the shore of the
Sea of Marmora and the Dardanelles, giving him
control of those waterways.
Turkish delegates received these demands—which,if
accepted, would almost eliminate Turkey in Europe—
without comment. Counter proposals are expected
at the meeting to-day, the general trend of which is
reported by press dispatches to be: first, the territory
eastward of a line from the Gulf of Saros to the Black
Sea, including Adrianople, shall continue to be absolutely under Ottoman sovereignty; second, autonomy under Turkish suzerainty to be conferred
on the territory to the westward of this line; third,
Bulgaria to be allowed a port on the Aegean Sea,
similar to the one to be allowed Servia on the Adriatic; and, fourth, no war indemnity to be paid by
Turkey. These counter proposals, it is said, have
not the least chance of acceptance by the allies.
The presence of delegates from Greece at the peace
meetings, although that country has not signed the
armistice and is still actively at war with Turkey, has
proved an embarrassing obstacle for Turkey, her
delegates contend, and has been a source for delay in
the negotiations. Turkey, however, is treating with
Greece, through her delegates, the same as if the
kingdom had signed the armistice. The Bulgarians
are practically the leaders in forcing demands, and
declare that if the Turks are not ready to come to
terms, and if none of the Powers offers acceptable
mediation, the allies are ready to resume the war
immediately, as, they assert, they "are fighting not
only for the independence of the Balkans, but for
Western civilization against the traditional Eastern
enemy." The allies claim that their military position has been greatly strengthened, and if they must
re-open the war, they can muster between Adrianople
and Tchatalja 350,000 men, including 100,000 Bulgarians, who are veterans of the November battles;
150,000 fresh and well-drilled Bulgarians; 60,000
Servians and 40,000 Greeks, who can be landed at
Dedeagatch and Enos at a moment's notice.
The disturbing element in the entire situation
appears to be the attitude of Austria, which,despite
1706
THE CHRONICLE
her agreement with Servia,has failed to demobilize,
although there now appears to be no apparent reason
for mobilization. Servia has accepted the autonomy
of Albania, and will agree to the commercial port on
the Adriatic for her own use; but Austria continues
to keep her armies at unusual strength. The failure
of Austria to demobilize coincides with the announcement from St. Petersburg of the enforcement of a
drastic censorship on news concerning military affairs
in Russia. The mobilizations by Russia and Austria
have been quite different, Russia having called to the
colors, relatively, more men than Austria, and also
having used a different method in gathering them
together. Early in November a draft of 300,000
Russians was due to finish their military training.
At the last moment, however, they received orders
to remain with their colors. These orders are still in
force, and give Russia a margin of 300,000 veterans.
Austrid's mobilization consisted in the calling of
young men.
A disquieting feature of Austria's attitude is an
announcement from Rome that the Austrian Government has requisitioned all the Catholic convents and
monasteries within fifty miles of the eastern borders
of that country with the view of turning them into
hospitals if war should break out as a result of the
Balkan situation. The Vatican, the dispatch says,
has already been notified, and, at the suggestion of
the Pope, the nuns and monks will not evacuate the
convents, but will remain to act as nurses. Montenegro seems to be the latest country to protest
against Austria's warlike actions, and believes that,
now that Austria has obtained what she wants from
Servia, the dual monarchy will try to prevent
Montenegro from taking Scutari by incorporating it
in Albania, or to make the Montenegrin occupation
of Scutari the price of an Austrian occupation of
Mount Lowehen. M. Miyuskovitch, the principal
Montenegrin delegate at the peace conferences, declared that Montenegro would rather be exterminated
than yield Lowehen to Austria or renounce Scutari.
He said: "It is naturally absurd to speak of declaring
war against Austria, but if Vienna has any such
pretensions she would have to wipe out every soul in
Montenegro." Of course, all the reports of Austria's
intentions are merely current gossip, and we give
them here, not because they appear to rest on any
substantial basis of fact but because they form part
of the week's narrative of events.
Dispatches from London estimate that loans totaling between $400,000,000 and $500,000,000 will be
needed in the coming year to repair the losses caused
by the war and the mobilizations in Russia, Austria
and Italy. An estimate of $175,000,000 as the cost
of the war is made, using as a basis of reckoning the
fact that there are 1,090,000 men under arms
400,000 Turks, 300,000 Bulgarians, 200,000 Servians,
150,000 Greeks and 40,000 Montenegrins—at an
average expense of ten shillings ($2 40) daily a
man.
The Mexican situation appears to have loomed up
again in aggravating form after a period of rest.
There seems evidence on the part of some interests
to try to force the Administration at Washington into
taking a determined position, requiring immediate
suppression of the Mexican rebels by President
Madero. The latest phase of the agitation for ending the revolution appeared in a demand made about
three weeks ago by a Western Senator, that the Presi-
[Vora. Lxxxxv
dent should remove the border patrol and allow all
arms and ammunition of war to go into Mexico freely,
in order that the revolutionists and the Government
forces might fight out their eontest to a finish and
one side or the other in the survival have the power
to maintain order and afford protection to foreigners.
This demand was not entertained by President Taft
or his Cabinet, as it was so completely opposed to the
policy to which they have been adhering firmly for
the past two years. If is believed, however, that
the President has decided to make representations to
President Madero, demanding a prompt improvement in Mexican conditions and full protection for
foreigners. In a dispatch to a local newspaper,
President Madero telegraphed from Mexico City at
the beginning of the week that the Mexican Government had received no note from President Taft. The
general situation in Mexico, he said, had improved
notably, and the Government was offering guaranties for the life and property of foreigners.
That a state of anarchy exists in many parts of
Mexico is suggested by an examination that has been
made, by Washington correspondents, of the evidence
gathered by the Senate committee of which Senator
William Alden Smith of Michigan is chairman.
Rebel bands are reported to be active in many districts, permitting many depredations, apparently
unchecked by the Federal forces. It is expected
that the Smith commission will in the near future
make its report on conditions in Mexico. This report, it is asserted, will show that the Madero Government has been unable to restore order and that
Americans have been killed and their property laid
waste or seized by the bandits without fear of reprisal. "Revolutionists appear to be growing bolder,
as they see the ease of evading pursuit and capture
by the Mexican Government," according to a statement authorized early in the week by the State Department at Washington. Reports indicate renewal of rebel activity in the States of Morales,
Puebla and Mexico, while the situation in Zacatecas
and Durango is rapidly going from bad to worse.
Great damage has been done to the Northwestern
Railroad south of Cuidad Juarez. Reports have
reached the State Department that the Mexican Government will undertake a revision of its customs
tariff about the same time our own Congress turns
its attention to that subject.
Members of the British Medical Association on
Saturday last definitely decided to fight the insurance act to the end. A determination not to accept
service under the Act was reached after an all-day
sitting, beginning at 10 a. m, on Saturday and lasting until nearly midnight. Nearly 180 delegates
from various divisions of the Association were present. The final vote by which the terms offered the
doctors by Chancellor Lloyd-George were rejected
was 150 to 21. It will be recalled that the original
compensation proposed by the Government was $1 08
yearly for each insured patient, which, with drugs
and other allowances, brought the amount up to
$1 44. Later the Government fixed the remuneration at $1 80, but the doctors declared that the least
they would accept was $2 04. The offer that has
just been rejected is, according to Chancellor LloydGeorge,the last concession on the part of the Government, which threatens to institute a State medical
service. Liberal newspapers express confidence,
however, that the Chancellor will win out and will
DEC. 28 1912.]
THE CHRONICLE
1707
find enough outside physicians to enable him to carry of Paris is, according to cable advices, soon to be
out the Insurance Act.
announced. The Credit Foncier loan will necessarily lock up in the banks a considerable amount
It is announced from Paris that Raymond Poin- of Frenclfmoney, many times, in fact, its face value;
caire, the French Premier, has consented to be a can- but the effect will be to bring French savings from
didate for the Presidency. He has several times in their hiding places and make them available for
the past refused to accept the candidacy. The mem- subsequent transactions.
bers of the Senate and the Chamber of Deputies,
The indications that the quarterly strain in Berlin
meeting as the National Assembly at Versailles on has been satisfactorily arranged for is regarded in
Jan. 17, will choose a successor to President Fallieres. financial circles here as a particularly encouraging development in the world's money position. Mail adThe holidays have interfered with the security vices from leading German centres declare that the
markets abroad more than at home, although it mus.t year 1912 would have proven a very favorable one
be conceded that the New York stock market has for the Berlin banks if within the last quarter-year
this week been very largely nominal. The London the blight of foreign politics had not come over the
market was closed on Christmas Day and on Thurs- business year that began under satisfactory ausday, which was Boxing Day, and the Continental pices. The European political situation, however,
exchanges were also closed on the same days. Yes- endangered the bonuses which the large German
terday, Friday, the London stock market showed banking institutions formerly received in times of
considerable confidence. Consols closed at 751 high prices as profits from securities and from syn6
which compares with 74% a week ago, while French dicates. Still, to quote from an interesting review
rentes (in Paris) were cabled last evening at 89.273/2 by the Frankfurter "Zeitung" (Dec. 10), "the total
francs, comparing with 89.25 francs last week. returns of the banks will be moderately satisfactory
Russian fours finished in London yesterday at 903/2, if the war continues to be a war on the Balkan and
which compares with 90 a week ago; Turkish fours does not become a war for the Balkan. .
. For,
point higher at 86; Bulgarian sixes have though the warnings of the President of the Imperial
closed
advanced 1 point to 104 and Greek monopoly fours Bank, which are shown to have been so justified, had
remain unchanged at 54. Servian bonds closed pretty generally been heeded, and the credit busiwithout change from 78 for unified fours and Ger- ness had not been greatly over-extended, the inman Imperial threes are also without alteration at terest accounts are promising higher results in con76. British home railways have continued firm. sequence of the higher rates. If the Imperial Bank
Money on London closed at 332@4, a fractional de- rate continues at 6% up to the end of the year,
cline for the week, while in Berlin money closed M% there will be an average for the year of 4.94%, as
higher for the week, at 6%.
against 4.39% the preceding year in the interest
The demand by Germany for New York funds sub- rates. The contango rates have probably averaged
sided early in the week, which suggests that Berlin not under 532% for the year. As to the present conbankers must have been able to secure adequate dition of the banks, a general statement cannot be
accommodation elsewhere to tide them over the made. Some institutions, especially those which
strain of the December quarter. Money in Paris has have been conducting their affairs in moderation,
ruled firmer, chiefly as a result of preparations for with a division of risks and a gradual strengthening
the annual Credit Foncier loan. This loan will call for harder times, are prepared for possible sudden
for 500,000,000 francs ($100,000,000) and will be demands. But in the statements of others, evidence
offered for public subscription on Jan. 9. As usual, of strain has become more conspicuous of late."
the bonds will be in denominations of 500 francs
($100), and there will be the customary lottery
None of the official European banks has this week
privilege connected with the transaction, which in changed its minimum discount rate. Germany took
France makes the loan such a favorite. Only 125,- the greater part of the offerings of South African
000,000 francs, or one-quarter of the full amount, gold in London on Monday, although it was anwill be issued at once. The offering price for this nounced on Friday that £100,000 of the amount had
part is 492 francs, which makes the net return frac- finally been secured by the Bank of France. The
tionally above 33/2%, the rate the bonds officially exact amount of the German purchases, so far
pay. The remainder of the issue will be paid for in as we have been able to learn, [has not been reinstallments extending over a period of three years, ported by cable, though it is believed it has been
if necessary, and on this part of the loan the issue close to £400,000 out of the total offering of £760,000.
price will be 495. Last year the subscriptions to The London "Times" of Tuesday in its financial
the Credit Foncier's 500,000,000-franc loan was article records that "Berlin contracted for 'about as
over-subscribed more than nineteen fold. That was much South African bar gold as refiners will be able
only a 3% issue, while the new one will be 332%, to deal with in this broken week." As the quarterly
which, of course, is an interesting sign of the world- strain will then be over, Berlin of course will not rewide tendency toward higher rental rates for money. quire gold in any large amount after next Tuesday
The success of last year's issue created a distinct and it is probable therefore that the Bank of England
amount of enthusiasm in the French market. It will be able to materially increase its gold supplies.
was so notable in this respect that it proved the pion- There is always a movement of gold to the English
eer for quite a chain of other offerings. The loan provinces during the latter part of December from
just announced is the first large transaction since the London to facilitate holiday trade. This movement
Balkan situation so thoroughly upset the general is later on followed by a return of the precious metal
European financial situation early in the autumn, to London, and in the usual order of things Threadand a success this year corresponding to that of last needle Street should begin to gain gold quite rapidly.
year will undoubtedly be promptly followed by addiIn Lombard Street private bank discounts for the
tional flotations. A large municipal loan by the City first time this season were early in the week lower for
1708
THE CHRONICLE
sixty-day than for ninety-day bills. The former, as
reported by cable, were 4%@4%%, while long bills
were 4 13-16@4%%; yesterday, however, the old
order of things was restored, short bills, as quoted
by cable, closing at 4 15-16% and ninety-day bills
at 4 1346@4%%. No discrimination is apparent
in the rates for spot bills and those to arrive. A week
ago short bills were quoted at 5% and ninety-day
bankers' acceptances were 4 15-16@5%. In Paris
the private market rate for commercial bills remains
4
at 4%, while finance bills are still 41 %. At Berlin the spot rate for private bank discounts is 59%
and for bills to arrive the closing rate was 53%. This
registers an easier situation at the German centre,
as the rate for all maturities (spot bills and those to
arrive) a week ago was 6%. Amsterdam still remains
4%
nominally 378% for all maturities, Brussels is 47
and Vienna still quotes 6%, which is the same 4 the
official Bank rate. The official Bank rates at the
leading foreign centres are: London, 5%; Paris,
4%; Berlin, 6%; Vienna, 6%; Brussels, 5%; Amsterdam, 4%; Bombay, 7%, and Bengal, 7%.
The weekly statement of the Bank of England,
which was published yesterday (Thursday, the usual
day of publication, being a holiday), showed the effects of the holiday demand for funds throughout the
British provinces. The Bank experienced a loss of
£2,145,330 in the gold coin and bullion holdings,
while the loans to the market increased £2,624,000.
There was a decrease in the total reserve of £2,664,000, which brought the proportion of reserve to liabilities down to 37.85% from 42.98 last week and
compares with 35.48% a year ago. Ordinary deposits showed a decrease of £1,182,000. Comparing
with a year ago, the loans indicate a reduction, although being nearly similar to the same period in
1910. This week they were £36,781,000, last year
£41,914,475 and two years ago £36,633,614. The
holdings in bullion at this time are less than corresponding periods for two years, being £30,328,567,
comparing with £32,438,162 last year and £31,355,545 in 1910. Meanwhile, the reserve is £19,505,000,
against £21,695,372 last year and £21,195,330 two
years ago. Our special correspondent furnishes the
following details of the gold movement into and out
of the Bank for the Bank week: Imports, £205,000
(of which £12,000 from Australia, £20,000 from
Ecuador and £173,000 bought in the open market);
exports, £100,000 to India, and shipments of £2,250,000 net to the interior of Great Britain.
A somewhat disappointing statement of the Bank
of France was issued on Thursday, showing at the
same time losses in cash and increased obligations.
Only the small increase of 20,000 francs was shown
in gold holdings, which was completely offset by a
decrease of 1,479,000 francs in silver. Discounts
were increased by 65,550,000 francs. The Bank's
advances showed a decrease of 9,075,000 francs.
Note circulation experienced the large expansion of
47,125,000 francs and general deposits decreased
almost an equal amount, the loss in the latter item
being 41,075,000 francs. Comparing with the figures
of last year, the gold item of 3,206,845,000 records
the small increase of 395,000 francs. Silver, however, indicates a reduction from 804,125,000 francs a
year ago to 724,721,000 francs on Thursday. Note
circulation continues to increase, it now being
5,584,338,000 francs, comparing with 5,310,363,485
francs a year ago and 5,260,997,755 francs in 1910.
[VoL. Lxxxxv.
Discounts have increased markedly, the present figures of 1,719,312,000 francs comparing with 1,397,123,677 francs last year and 1,171,864,205 francs two
years ago. General deposits show a decrease from
last year but are better than 1910, the figures on
Thursday being 649,916,000 francs, comparing with
687,297,682 francs in 1911 and 630,356,455 francs in
1910.
The weekly statement of the Imperial Bank of
Germany was a characteristic one for the close of
the December quarter. While the holdings of gold
showed a gain of 4,648,000 marks and of gold and silver combined of 1,288,000 marks, note circulation
indicated the particularly large increase of 102,177,000 marks. Loans for the first time in three weeks
showed an increase, the addition being 23,342,000
marks. Discounts, on the other hand, continued to
show expansion, exceeding last week's large total by
131,447,000 marks. Comparing the returns with
the totals for last year, a loss of 5,462,000 marks is
shown in the Bank's stock of cash (gold and silver),
the total now being 1,051,998,000 marks, comparing
with 1,057,460,000 marks a year ago. Loans and
discounts and circulation continue to register large
increases in the year's comparison. Loans and discounts are now 1,726,028,000 marks, whereas last
year they were 1,457,860,000 marks and two years
ago 1,148,200,000 marks. Circulation exceeds the
two-billion mark, reaching 2,056,633,000 marks,
comparing with 1,804,060,000 marks a year ago and
1,624,500,000 marks two years ago.
The expected year-end flurry in call money duly
arrived. The rate reached 12% on Thursday and
again on Friday, each successive day until Friday
having shown a new high level. On Friday a sudden decline to 1M% followed when renewals had
been arranged. There is no mystery connected
with these momentary spurts. They merely reflect the calling in of funds by the banks and other
lenders, in some instances to provide for the restoration of bank reserves depleted below requirements
and in other instances to provide for the regular New
Year dividends and coupon payments. These are
always heavy, though there is at the same time the
knowledge that they are likely to return promptly
to circulation. The early part of January is, therefore, seasonally a period of growing ease in money
circles. An additional aid in this direction is the fact
that during the first few weeks of the new year
there is generally a return of currency to New York
from the agricultural sections. The extent that the
re-investment demand for securities will assume
during the next fortnight or so will also quite naturally become a factor in the money situation. Last
year this New-Year re-investment of January payments was disappointingly small, and conditions in
the market for securities to-day appear so conflicting that slight basis is available for any judgment
as to what the result may be this season. Last
Saturday's statement of the New York Clearing
House did not accord very closely with the preliminary returns of the week's currency movement as
reported by the banks on the preceding Friday. It
showed an increase of only $1,152,000 in the cash
reserves, all but $66,450 of which was consumed in
increased reserve requirements resulting from the
expansion of $7,849,000 in the deposit item. The
cash surplus at the close of business on Friday was
DEC. 281912.]
THE CHRONICLE
$8,141,100 for all the banks and trust companies in
the Clearing House, which compares with $11,138,300
one year ago.
Reports from the interior continue to suggest a
note of caution in new business enterprise resulting
from the change in the tariff that is now so clearly in
sight. It is not unlikely, therefore, that there will
be some curtailment in mercantile demand for funds
during the next few months, and this feature
should constitute a further source of monetary ease.
On the other hand, the expectation seems quite
general in representative New York banking circles
that America will be called upon to participate actively in the large aggregate of European State loans
that will be necessary, as soon as peace is formally
declared, to replace the waste of war and for other
purposes.
The extreme figures for call money this week have
been 13/b and 12%. On Monday the range was
4%@6%, with 5% the renewal basis; on Tuesday
8% was the highest rate, 5% the lowest and 6% the
ruling figure; Wednesday, Christmas Day, was a
holiday; on Thursday the maximum 'rate was 12%,
the minimum 6%, with 8% the ruling figure; Friday's highest was 12%, lowest 13/2%, and ruling rate
12%. Time money closed a fraction easier, although
there is slight disposition on the part of borrowers to
make long-term commitments, as they anticipate
appreciably easier conditions in the course of the next
few weeks. Closing quotations were 5%@6% for
sixty days, 5U% for ninety days, 53/2% for four
months, and 5
for five and six months. Mercantile paper has been in rather better demand,
but rates have not been changed from 6% for sixty
and ninety-day endorsed bills receivable and also for
four to six months' single names of choice character;
others are quoted at 63/2%.
1709
continued trend to the German centre. The London
check rate in Paris declined to 25.14 francs from
25.203/ francs, the closing quotation a week ago.
This is also against the British centre.
Compared with Friday of last week, sterling exchange on Saturday was firmer with demand quoted
at 4 8560@4 8570, cable transfers at 4 8625@4 8635,
and 60 days at 4 81@4 8110. There was a decline.
on Monday due to easier discounts at London and
the stiffening in local money rates; demand receded
to 4 8540@4 8550 and cable transfers to 4 8620®
4 8630; 60 days, however, advanced to 4 8110®
4 8120. •The flurry in call money and continued ease
in English discounts caused a sharp break in sterling
on Tuesday, when demand declined to 4 8510@
4 8520, cable transfers to 4 86@4 8610 and 60 days.
to 4 8085@4 8095. Wednesday was Christmas Day.
On Thursday the rise in call money (which went as
high as 12%) was responsible for another severe
break of about 40 points in exchange rates; the range
was 4 8470@4 8480 for demand, 4 8575@4 8585 for
cable transfers and 4 8055@4 8065 for 60 days.
On Friday the tendency toward a lower level continued during the forenoon, demand touching
4 8460 and cable transfers 4 8575. Recoveries of
5 points each subsequently took place, influenced by
the decline in call money rates here. The final figures
were 4 8055®4 8065 for 60 days, 4 8460@4 8475
for demand bills and 4 8575@4 8590 for cable transfers. Commercial on banks closed at 4 78%@4 803/b
and documents for payment at 4 80@4 813i. Cotton for payment ranged from 4 80@4 803. grain for
1,
payment 4 803/2@4 80%.
The New York Clearing-House banks, in their
operations with interior banking institutions, have
gained $6,278,000 net in cash as a result of the currency movements for the week ending Dec. 27.
Their receipts from the interior have aggregated
$13,492,000, while the shipments have reached
$7,214;,000. Adding the Sub-Treasury operations,
and gold imports,which together occasioned a loss of
$2,800,000, the combined result of the flow of money
into and out of the New York banks for the week
appears to have been a gain of $3,478,000,as follows:
With the high rates for call money ruling in New
York, it is not surprising that sterling exchange this
week should have developed distinct weakness. There
has been some buying of cable transfers for so-called
"window-dressing" purposes by people who wish to
have good balances abroad over the turn of the year.
These people later sold demand bills which, of course,
will not reach their destination by mail until the
Week ending Dec. 27 1912.
Into
Out of
Net Change in
new year has actually begun. The holidays have
Banks.
Banks.
Bank Holdings.
interfered with business to a considerable extent. Banks' interior movement
$13,492,000
$7,214,000 Gain $6,278,000
Sub-Treas. oper. dz gold imports
19,467,090
22,267,000 Loss 2,800,000
The Cunard steamer Lusitania, which sailed on Tues- Total
$32,959,000 $29,481,000 Gain $3,478,000
day, was the last opportunity for mails to reach
London in time for the year-end commitments. The
The following table indicates the amount of bullion
movement of exchange was persistently downward in the principal European banks.
during the week, if we except a rise of 15 points on
Dec. 26 1912.
Dec. 28 1911.
Saturday. Based on demand rates, Monday's Banks of
Gold.
Silver.
Total.
Gold,
Silver.
Total.
closing figures showed a reaction of 20 points, on
£
£
Tuesday a further decline of 30 points and on Thurs- England__ 30,328,5671 £ 1 30,328,567 32,438,162 £ I 32,438,162
France __ 128,273,720 28,988,560 157,262.28 128,257,960 32,165,640160.423,600
day a still further decline of 40 points. Exports of Germany 38.503.800 14,000.000 52,503.800 38.709,800 14.162,750 52,872,800
RUSSIA a__
6,338,000164,712,000
6,277,000149,567,000
merchandise continue active, but there is thus far Aus.-Hunb 158,374,000 10,192.000' 60.572,000 143.290,000 11,807,000 65,648,000
50.380,000
53.841,000
Spain ____ 17,459,000 29,610.000 47.069,000 16,717,000 30,311,000 47,028,000
no appreciable indication of a reaction in the mer- Italy d___ 42,647,000 3,500,001 46,147,000 40,785,000 3,563.000 44,348,000
Netherl'ds
648,700 14,075,700
1,144,400 12,601,400
chandise import movement. This latter is a feature Nat.13e1gd 13,427,000 3,868.687 11,606,000 11,457,000 3,411,333 10,234,000
7,737,3331
6,822,667
5.570,000 4,727,000
4,727,000
that is being closely watched in international banking Sweden __ 5,570,000
Switz'land 7,092,000
7,092,000 6,449,000
6,449.000
2,316,000 2,192,000
2,192,000
circles here because of the unsettling influence that Norway __ 2.316,002i
Total week 502.108,4'20 97.145,927 599,254,347 485,686.6391102,842,123 588,528,762
'
the certainty of tariff revision is expected to exert. Prey.week 503,882,0171 98,051,580601,933,597488.202,8291103,124,6331591,327,482
Bankers are also figuring that there will neces- a The total of gold in the
Bank of Russia includes the balance
amount held for Russian account
sarily be a considerable transfer of funds by that is, theso held, and consequently duplicatedininother Continental held abroad.
banks. The
proportion
the above statement, is about
this centre to Europe during the next few months one-seventh of the total in each year.
b The Austro-Hungarian Bank statement is now issued in Kronen and
Heller
The reduction of the former currency to sterling
in conjunction with America's participation in the instead of Gulden and Kreutzen. Gulden
Pounds was by considering the
to have the value of
European State loans that are expected to be an- Kronen has really no greater value than 20 cents, our cable 80 cents. As the
correspondent in
London, in order to reduce Kronen to Pounds, has altered the basis of
conversion
nounced soon after the formal declaration of peace. byddividing the amount of Kronen by 24 instead of 20.
The division between gold and silver given in our table of coin and bullion
Italy an
Sterling exchange in Berlin has declined this week the Banksisofnot claimed Belgium is made from the best estimates we are able in
to
obtain; it
to be accurate, as the banks
distinction in the
weekly
reporting the total
to 20.41k marks from 20.44 marks, which suggests a divisionreturns, merelyclose approximation. gold and make nobut we believe the
silver,
we make is a
1710
THE CHRONICLE
THE TERMS OF PEACE IN THE BALKANS.
The work of the two peace conferences—that of
the recent belligerent States and that of the Ambassadors of the neutral Powers—both of which are now
in session at London, has begun to reach the crucial
part of the discussion. This week the Balkan allies
stated in a general way their terms for peace with
Turkey. It will be recalled that when the Powers
originally intervened to avert the Balkan war, the
allies professed that their action was not animated
by territorial ambition, but merely by the wish. to
safeguard the rights of the Christian people in the
northern Turkish provinces. This was one of those
assurances, however, which is always apt to be altered
or modified by the progress of events, and the unexpectedly complete overthrow of the Turkish armies
created a new situation which was recognized by
everyone as superseding that which had existed
before.
In advance of the statement by the allies of their
conditions of peace, expectation had been very general throughout Europe that not much would be
left to Turkey of her European dominions. M.
Leroy-Beaulieu,the eminent French critic of public.
affairs, went so far as to express the positive conviction that Turkey could not retain even Constantinople. The more general expectation, however,
was voiced by this recent statement by a well known
London critic, that "there is no doubt that, but for
a limited area around Constantinople, Turkey's
rule must end in Europe."
The preliminary conditions of peace as submitted
this week require that Turkey shall relinquish all
of its extensive European empire except the tip of
the peninsula on which Constantinople is situated
Servia is to acquire a substantial stretch of territory
running toward the Aegean Sea on the one side and
toward the Adriatic on the other. Bulgaria is to
take the bulk of the Turkish territory on the eastern
side of the Balkan peninsula, in what was once
known as Thrace. Greece is to take Crete and the
Aegean Islands, and in the northwestern 'portion
of the disputed territory a new and independent
State, Albania, is to be erected under some form of
foreign protectorate.
This geographical reconstruction would place the
northern boundary of Turkey's possessions along a
line running from Midia on the Black Sea, about
fifty miles to the northwest of Constantinople, to
Rodosto on the Sea of Marmara, about one hundred
miles to the West of Constantinople. Practically,
therefore, nothing would be left to the Ottoman
empire save the city of Constantinople and what
might be called a comfortable suburban district.
:Under this arrangement the Turkish city of Adrianople, which is now under siege but has not yet surrendered to the Allies, would pass into Bulgaria's
hands. That question may possibly be the crux of
the negotiations, because Adrianople has for many
centuries been the essential frontier stronghold of
the Turkish possessions and the key to Constantinople. Had it been captured before this time or
if it were to be captured within the next few days,
the negotiations might be affected by that fact. As
it stands, it is to be expected that the Turkish
delegates will resist the Balkan propositions in their
present shape, and will probably submit counterpropositions of their own, which would require long
debate, as is usual in conferences of this sort. But
w L. Lxxxxv.
the beginning has, at least, been made with sufficient clearness to .show what must be the general
result of the Balkan war so far as concerns the map
of Europe.
That this result will mark the virtual exclusion
of Turkey from a position as a European power, it
is not easy now to doubt. That may, indeed, be
described as an historic process, which began as long
ago as the Seventeenth Century, when the Turks
held Buda Pesth" and beseiged Vienna. Since that
time, Turkish dominions in Europe have been gradually shrinking, and would undoubtedly have been
cut to practically nothing very long ago but for the
mutual jealousies of the European Powers. The
proposals of the Balkan States would reduce the area
of its European' possessions from some 65,000 square
miles to a trifling bit of territory, and the population controlled from six millions to about one million.
Supposing, then, a territorial readjustment on
approximately such lines, with the important increase
of area, population and prestige which would accrue
to, Bulgaria and Servia, the interesting question
would arise, what would in all probability be the
longer outcome*, so far as concerns European politico
as a whole?
It is impossible to consider the question without
regard, first, to the old problem of the rival-powers,
notably Austria and Russia. Russia is usually
regarded as the representative Slav Power, and her
interest and influence in the Slavic States of the
Balkans has been largely ascribed to that fact. But
Austria also, in a degree not generally understood
is a Slavic Power. Out of its fifty-two million inhabitants,something like twelve millions are German,
nine millions Magyar and no less than twenty-five
millions Slay. Austria, therefore, is naturally concerned and perplexed over the erection of one or
more great Slavic Powers to the South of her, and
that, fact has been at the basis of her recent disputes
with Servia.
The interests of Russia and Austria, however, are
notsimilar. In the case of Russia,the common racial
element, in its own and the Balkan population, has
served alternately to create a sort of informal friendly
protectorate on Russia's part, or to arouse suspicion
of her designs to absorb her Balkan neighbors.
Austria has at times seemed to entertain similar designs; but she has also, with her mixed population
and her non-Slavic government, been concerned at
the influence which her Balkan neighbors, were they
to grow to a position of real power, might exert, in
a way adverse to the interests of Vienna, on their
fellow Slays in Austria's southernmost dominions.
Austria has a position to maintain; Russia has always
been supposed to be looking forward to the gaining
of a new position. As Marshal Radetsky declared
in a famous State paper, years ago, "Russia must do
all she can to take possession of Constantinople,
for its possession grants to her the necessary security
and territorial completeness."
But the proposed terms of peace would at any
rate mean that neither Russia nor Austria could
absorb the disputed territory except as a result of
war based on wholly new contentions, and they
would interpose between Russia and Constantinople
what would appear to be a final barrier. It is possible, therefore, that the present proposed solution
may turn out to have been the only logical outcome
for the long-existing dilemma granting the fact of
Turkish dismemberment.
DEC. 28 1912.1
THE CHRONICLE
1711
This question intertwines itself with the further power and responsibility of the Balkan States, with
question, What of the future of the new and larger the removal of mutual jealousies on the part of their
Balkan States themselves? That is a matter of no powerful neighbors, might tend to create a more
small perplexity, which would have to remain for stable and permanent situation in the diplomacy of
events to test. The suggestion, made in the first the region, and of Europe as a whole, is not so rash
flush of Balkan victory, of a united Balkan empire in a prediction.
which all the allied States would hereafter be merged,
VOCATIONAL GUIDANCE.
has been pretty definitely abandoned. It is recogIn discussing the cost of living and the economic
nized now that only through exceptional circimstances was the united and harmonious action of condition of the country, there is one factor that lies
Servia, Bulgaria, Montenegro and Greece made entirely outside of statistical reports and is seldom
possible. The coincidence of a Turkish army not considered, but which is, in fact, perhaps the most
yet brought up to modern efficiency and a Turkish important of all; and that is the purely human
Government demoralized through the result of the factor. Intensive farming, speeding up machinery
Turco-Italian War, gave the opportunity for attack and scientific administration, important as all are,
which might, never have returned, and at the same depend for their effectiveness upon the strength and
time distrust over the machinations of Austria in the skill and disposition, that is, upon the totality
Balkan regions suggested that such action must be of the make-up and temper, of the man who does
the work. The greatest of all wastes in our American
not only immediate, but absolutely harmonious.
naturally cease to exist life to-day is to be found in the haphazard way in
These circumstances will
on the conclusion of the war, and he would be a bold which the average man finds his life work. It is
prophet who should undertake to predict the future not simply the problem of the square peg in the
relations of the victorious States between themselves, round hole but of the irreparable waste that lies in
and the nature of their governments. War has been human ability left undeveloped and untrained.
waged in comparatively recent years between Bul- In a vast majority of cases, it is left wholly to chance
garia and Servia over a border dispute. It is not to-determine to what a young man shall devote his
as yet even certain just how far the governments and life.
There is a letter of the poet Gray to a young friend
people can be relied upon for satisfactory adminisnew and important trusts. It is not who wrote him seeking advice as to what he should
tration of their
so long ago that the barbarous slaughter of the King do for a life work, and deploring the fact that he
and Queen of Servia, by officers of the Servian army, had no strong proclivity in any one direction. The
opened the eyes of the world to the signs of a semi- reply tells him that he ought to be thankful that
he was not "born to any poky profession"; that the
savage character in the Servian race itself.
All such considerations must await the progress chief business in life is to learn how to employ oneself;
of events. They are not the less perplexing, in view and that he should rejoice that he finds himself face
of the very great weakening of Turkey as a belliger- to face with that duty. It still remains true that
ent Power, and, hence, as a possible restraining influ- after so many centuries of our Anglo-Saxon civilience which would follow a peace arranged on lines zation, the same helplessness maintains among our
such as are now proposed. Yet even so, it is possible young people tp-day. The waste of young life in
to draw encouraging inferences from the fact that the consequence, continues, and the great drag, both
old and vexatious problem of the Balkans could not upon industry and upon commerce, that results from
have been really altered unless the disputed territory this continued ignorance as to what young men
had been definitely conceded to powerful and inde- should do with themselves, coupled with such
pendent Balkan governments, and unless the tem- extensive inefficiency in any department of activity,
porary political makeshifts of the Treaty of Berlin, is unchanged. Indeed, the helplessness in this
the small and weak system of "Buffer States," under direction of our young people has,for several reasons,
indirect Turkish authority, had been abandoned increased, rather than diminished. The great inonce for all. Russia and Austria, whose interests crease in the number of possible occupations for both
necessarily were in perpetual collision so long as men and women—for the Census reports that every
either might be suspected of entertaining territorial occupation now engaged in by men, excepting four,
aspirations in this vicinity, would at least under is also participated in by women—and the comthe territorial re-arrangement now proposed be plexity of modern methods of manufacture and of
placed to a considerable extent on a footing of business both serve to make it more difficult for a
mutual interest. Both would have rights to protect young person to know to what to devote himself,
which would not necessarily come into conflict now and increase his sense of unfitness when he faces
that the suspicion of ulterior purposes would be so an opening in any line of employment; while also
the universality of our common school education
largely removed by the new regime in the Balkans.
On the one hand, this aspect of the new position diverts attention from, what used to be the widely
might be assumed as safeguarding the general peace recognized necessity of early training and apprenticeof Europe and on the other hand there might ship for any trade. As a consequence, the average
readily be removed that provoking cause of trouble young person of to-day not only is left to find his
which has existed for so many years in the Balkan occupation by chance, but, finding it, the probability
States, and which has been responsible for so much is that in his consciousness of the casual character
of the constant disturbance in that territory—the of the opening, he feels little interest in it, his unperpetual intrigues and interference with the weak fitness quickly begins to burden him, there grows
States of that region by both Austria and Russia. up a feeling of drudgery because of his lack of interest,
That the new situation could be worked out on lines he becomes restless and idle, he is exposed to every
such as would positively remove the Balkan question temptation, and he is certain of frequent change;
from the field of political irritation is, perhaps, too with the consequence that inability to do anything
much to hope for. But that the very fact of the new well, andjindisposition to learn to do better, become
1712
THE CHRONICLE
S
[VoL. Lxxxxv.
characteristic of many young people, and if their Banker, Baker, Confectionery Manufacturer, Archilife, from the standpoint of industry, does not be- tect, Landscape Gardener, Grocer, Book-keeper
come a total failure, it, in thousands of cases, drops and Accountant and Department Stores. Others
to a low level of productiveness and of content.
are steadily following.
The hopeful feature of the situation is that there
The second step is to find what provision exists for
is to-day a wide-spread movement to meet the fitting young people to enter the various fields that
conditions by providing young people with special may be open to them. To gain this information,
training for the business of life, and, more recently, the Woman's Municipal League has made a careful
by the organized effort to guide them into those study of all forms of vocational training which are
forms of activity for which they are best fitted. available in Boston and vicinity. These have been
There have been two or three general conventions classified and the information put in such shape that
to consider and promote this latter purpose under every applicant can know at once, and definitely,
the head of "Vocational Guidance." And, while exactly where to find the training which he may need
these conventions have, as yet, recorded less actual for his future employment, however young or old
good accomplished than they have done in pointing he may be. These tables give the name and position
out the need, they have brought to the knowledge of the school supplying the instruction, the kind of
of the public.the thorough and effective work which industries taught, the supplementary work offered
is now being done in one or two places, notably in in connection with it, the requirements for admission,
the City of Boston.
and such other facts as will convince every seriousWe have before us the Report published by the minded person of the available opportunities that
Department of Commerce and Labor at Washington, exist for getting training for his task. All this
of the system as now organized and effective in information is grouped in charts which .make it
Boston, and it is worthy of wide dissemination, as easily available for everyone who could possibly
it shows both the perfected organization and accom- need it.
plished results. There are in that city five societies
A third, and by no means unimportant step, is to
having a similar purpose which have sprung spon- convince young people of the value of such training.
taneously into existence, have found their proper Here the Home and School Association comes in to
place and have now become affiliated. These are reinforce the work of other departments. It seeks
the Vocation Bureau, the Committee on Vocational to secure the closest possible co-operation between
Education of the School Board, the Home and School parents and teachers in all that concerns the pupil's
Association, the Girls' Trade Educational League welfare. It presses upon parents the importance of
and the Woman's Municipal League. The first helping their children to determine in what way they
two are, in a measure, official, the other three are shall best employ themselves for life, and, by means
independent; but they now collaborate, and may of lectures and conferences, organizes the parents
be regarded as one body. Each has a somewhat in various associations and strives to awaken in their
different department of work, but together they minds, as in the minds of their children, a sense of
cover the whole field of guiding young people in the importance of early and proper training for any
their choice of occupation, in showing where that work they intend to seek.
occupation is to be found, in indicating the conThe next step is to guide these young people
ditions which must be met, and in training the wisely. Here the Girls' Trade Education League and
individual for the work he is to undertake.
the Vocational Committee of the School Board
Of course the first duty was to determine the render their assistance. The latter holds mass
need. To this the Vocation Bureau has given much meetings aimed particularly to interest teachers.
attention. It maintains a central office for the It secures a vocational counsellor, or a committee
collection and study of information concerning the of counsellors for each school and provides lectures
various occupations of the community. This in- and addresses both for parents and children. The
formation is classified and made public in such a vocational counsellors are ready to advise and help
way as to help young people, teachers and parents parents and children who most need advice, disto understand what the occupations holds out, their cussing with them their possibilities and gifts and
advantages and disadvantages, and the conditions seeking to guide them in directions where they can
for efficiency and success in each. To accomplish be employed to the greatest advantage. These
this, it employs expert investigators who are ex- counsellors also are of great service in selecting those
pected to learn what an occupation is, its conditions grammar school graduates who are best prepared
and openings, what it demands of a boy, what it to specialize in the advanced schools. They have
offers in pay and advancement, what opportunities done much to determine the pupils who are admitted
are open for securing the specific training it requires, to High Schools of Commerce and to the High School
and what are the general conditions of employment, of Practical Arts. The committee has established
as regards health and the effect upon the life of the a system of summer apprenticeship, with a vocational
individual. This investigation is conducted by adviser charged with the work of finding employpersonal visits to farms, shops or factories, by con- ment for boys in the summer in the business houses
sultation with employers, superintendents, foremen, of the city. The business men of Boston, through
employees and labor men, and also by the use of the Chamber of Commerce, have heartily co-operbooks dealing with occupations and with trade ated and are giving the boys the best possible chance
periodicals. The facts which this Bureau gathers to obtain the preliminary knowledge of business
and the tables which it publishes are surprisingly which will go far to demonstrate their fitness or
elaborate and complete. Over a hundred occupa- unfitness for a particular work. An interesting
tions have been thus investigated and the results feature of this department and of the intelligence
carefully filed for reference, and also published in with which the Boston merchants are regarding it
bulletins for general information. Such bulletins is their definite agreement not to retain in their
have been published with regard to the Machinist, employ any one of the summer apprenticeship lads
DEC. 28 19121
THE CHRONICLE
t
after the schools open in September, evenli hough
he has shown special aptitude for the work which
they have given him. In this way the business
community is emphasizing the need on the part of
the lads of a more thorough education and is bringing
to bear upon them the best possible pressure to
pursue their studies as long as possible.
The Girls' Educational League is doing as much for
the girls. It seeks to guide the young girls the
moment they leave school into occupations for
which they are measurably fitted; carefully investigating the mind and the body of the individual girl
and the extent of her education, and giving her the
information which she needs to know where and how
to employ herself. The purpose is not so much
to find work for the girl as to help her to decide for
what particular work she is best fitted, and then to
aid her in securing that work. Like the other
agencies, it strives to keep the girls from leaving
school early, or without a good general training, but
when this training has been secured, or when the
leaving is inevitable, it tries to do away with the
period of undirected experimentation and to place
the girl at once where she can stay and develop with
her work. As this is sometimes difficult, it endeavors to keep in touch, for at least a year or more,
with each girl, in order that it may aid in any shifting
that may be necessary, and to make sure that she is
eventually placed in an employment to which she is
adapted and which affords a living wage. It also
publishes bulletins on telephone operating, bookbinding, stenography and typewriting, nusery maids'
duties, dress making, millinery, straw hat making,
manicuring and hair dressing, nursing and salesmanship. These bulletins, like those for the boys,
present the work in the simplest manner and are
for the use of all. The ultimate aim of the whole
system is greatly to increase the number of efficient
workers, to make sure that their earnings shall be
adequate for a proper life, and that the total amount
of product shall be the maximum for their capacity,
as a proper contribution to the general well being.
That this system is working effectively is shown
by the fact that the business men of the community
are turning more and more to this organization to
secure for them the employees they need. The
students sent to take positions have been so well
chosen and so carefully followed up that the employer who has once tried one always comes back
for more, with the result that the counsellors have
little difficulty in securing positions for any pupil
they wish to place. The effect upon the temper and
attitude of the young people of the whole city cannot be expressed in statistics, but must inevitably
be powerful. They cannot fail to see what the outcome of such guidance is in the lives of the older
youths who have passed from school to the work
of life. Instead of the haphazard way in which the
student who is obliged to begin work with inadequate preparation and without counsel, taking
whatever work he may get, with the consequent
frequent change of occupation and the often still
more,frequent periods of having no work at all, he
sees his:older friends steadily employed in occupations
inriwhich they find interest and are developing that
efficiency which is recognized by increased pay.
The dignity of labor is inevitably emphasized, the
1713
value of education becomes conspicuous, and the
temptation of the youth to be a truant or rebellious
against all education is effectively removed.
The system is so obviously wise and its results
are so immediately manifest that one wonders why it
has not been adopted long before. There is certainly no period of life when a man or a woman needs
counsel that is both intelligent and unselfish so
much as when choosing a career. And the community can well afford to apply its best intelligence to giving such direction to its young
people.
Vocational training is of growing importance.
It has now become widely recognized in every land;
not only for the manual laborer but for all the
higher occupations of life. Chambers of commerce
in the great cities of Europe, no less than in many
American cities, are recognizing the value of special
training for the young men who are to be the business
men of the future. The old method of taking young
men into thern establishment with the expectation
that because they are their father's sons, though
without any special education for the business,
they will quickly prove their ability to take their
father's place, is giving way to the recognition of the
fact that here, as truly as elsewhere in life, all that •
can be gained of thorough and wide scientific training for the work in hand, is of prime importance.
Our universities are opening departments of education for such young people, and now similar work
is being introduced into the schools of every grade,
that no child in America shall be left without some
special instruction that shall bear upon his daily
work.
If this is to be wisely brought about, it will require to be carefully fitted into that general scheme
of education which aims at the culture of the whole
man, and without which any special educational
training must necessarily be incomplete. That
adjustment will require time and much thought on
the part of educational leaders. Sudden changes
of the curriculum and speedy abandonment of old
methods of education will inevitably work harm.
What is needed is the careful gathering up of all that
is best in the traditional methods of education and
then the carrying on of such forms of vocational
training as will give pertinence and, therefore, interest to the whole educational course. We can be
confident that the leaders of education in this coumtry
are intelligent enough and broad-minded enough
to deal with this problem and to work out its solution
rapidly. We certainly are not going to fall behind
the educational methods that are in vogue in other.
lands. But the purpose of this article is to call
attention not so much to vocational education as
to the incompleteness of that education, if it is not
also coupled with such vocational guidance as is
already in full operation in a few places, and which
must, wherever it is introduced, contribute greatly
to the value and effectiveness of all education that
may be given by the city and the State tb its young
people. As such, it is one of the most important,
as well as the most novel of the various efforts that
are making to help young people to know how to
employ themselves. We commend it to the attention of the. ecently appointed Committee on Commercial Education of ,the ',Chamber of Commerce.
1714
THE CHRONICLE
Lxxxxv.
by the greater business, notwithstanding the fact
RAILWAY MAIL COMPENSATION.
that at the beginning of the decade rail carriage cost
The Bureau of Railway News and Statistics, over one-third of the gross receipts. The comthrough Slason Thompson, has been making an mittee declares that the proclaimed reduction of the
examination of the figures upon which Postmaster- postal deficit has been only at the expense of the
General Hitchcock has been led to suppose that roads, forcing them to bear this reduction of deficit
the payment to the roads for mail-carrying can be and an increase as well in other modes of postal
subjected to a cut of nine millions a year. This ex- expenses.
pectation is based on a report to him by Assistant
An instance of this is furnished by the committee
Postmaster-General Stewart, and in this report the by referring to the oppressive operation of the existBureau finds several errors which entirely vitiate it. ing rates of payment for mail-carrying. No road
Mr. Stewart makes out the expenses and taxes of would make a four-year contract to carry, for a defiabout 89% of the roads which are chargeable to mail nite and fixed sum, the unlimited output of any
service in November of 1909 to have been a little manufacturing plant; this would be so unbusinesslike
under 2% millions, to which he adds 6% for good that every man's sense would condemn it, and the
measure; multiplying this by 12, he finds the total for Inter-State Commerce law would also declare such
the year to have been about 93 millions less than the a contract void if made. Yet the law prescribes
revenue from mails by the reporting lines in the year that the mails shall be weighed "not less frequently
ending with June of 1910.
than every four years." and this weight is taken as
The first error is that the report was admittedly the basis of payment. The carriers say that the
based on "operating expenses and taxes only" and Post Office Department gets behind the letter of
took no account of fixed charges or interest on the this provision and refuses to order re-weighings any
value of property. The Bureau figures that 6% oftener than it requires; the result is that, with busion the net capitalization apportioned to mail service ness constantly growing, the roads have to carry inwould fairly entitle the carriers to 18 millions, creased weights without compensation. The obnearly double the profit existing according to Mr. vious and just course would be to have annual
Stewart's calculation. All business men will agree weighings.
that no safe method of figuring about any service
Being now faced with the prospect that attempt
Can omit considering interest on the property used will be made to force the roads to carry, without any
to perform it.
compensation at all, the large volume of new maAnother error was in reducing by over 200 millions terial expected when the Parcels Post begins, with
the number of "car-foot miles" used for mails, this the new year, the roads have decided to take appeal
being done by arbitrarily confining the mail space in direct to the people, in faith that only a failure to
trains to the space actually occupied and refusing consider the subject has caused the apparent public
to recognize the working space necessary for handling indifference to their welfare.
it; this is as clearly wrong as if one should figure
passenger traffic on the basis of the space in cars
OUR HARVESTS IN 1912.
taken by seats and ignoring aisles and platforms.
A more decided contrast than that between the
By this erroneous treatment, Mr. Stewart reduced harvests of 1911 and those of 1912 in the United
from 9.32% to 7.18% the proportion of passenger- States it would be difficult to find. The growing
traffic expenses and taxes assignable to mail service; season of 1911 was so unfavorable for agricultural
the difference in amount by using the wrong per- interests over very much the greater portion of the
centage is nearly 10% millions.
country that the Secretary of Agriculture in his
Another error was in selecting, either purposely annual report for that year was constrained to deor unwittingly, the month of November, in which scribe it as adverse in a degree,exceeding all experimonth the percentage of passenger revenue to total ence. The result was that all leading crops, with
revenue is lowest. Readjusting this to fairly cover the notable exception of cotton, were as a rule apprethe whole year, the share chargeable to mail would ciably below the previous records of production.
be 7.18% of 32.13% of total expenses and taxes, As a consequence, prices for foodstuffs, already
instead of 7.18% of 29.21%. In 1909, when a high, were further advanced,and we were under the
Congressional committee looked up the matter and necessity of importing large quantities of at least
found railway pay "not excessive", the mail revenue one leading article (potatoes) to satisfy consumptive
was 2.54% of the total; in 1910 it was only 1.78% requirements. Note now the changed condition
of the total, and this fractional difference means in 1912. Corn, spring wheat, oats, barley, rye,
nearly 21 millions of money on the gross earnings potatoes and a number of smaller crops have yielded
of that year.
as never before, winter wheat alone of the leading
Mr. Thompson finds that in 1910 the roads re- food crops falling behind the best previous record.
ceived for mail service a little less than 49 millions • Cotton may fail to reach the level set last year, but
and rendered it at a cost of nearly 75 millions, it will exceed all earlier seasons. The outcome of
leaving a deficit of a little over 25 millions. The the various harvests has been such as to cause the
Committee on Railway Mail Pay of the Railroads, Secretary of Agriculture to describe 1912 as the
representing 268 roads, which operate 214,275 miles "most productive of all agricultural years in this
of line, says that in the last ten years the Post Office country."
Department has done a vast increase of business at
In view of the above, there is little occasion toyo
a largely decreased cost for railway carrying but at into any extended review of the conditions of weather,
a largely increased outlay for other purposes; thus in &c. It is proper to state, however, that the develorder to make a considerable increase in its gross opment of cotton over much of the area was retarded
receipts, it cost the Post Office Department nearly by low temperature in the early season and further
nine-tenths of the increase in other outlays and less unfavorable conditions impaired the prospects of
than one-tenth for the greater rail-carriage required yield east of the Mississippi later in the season.
DEO. 28 1912]
THE CHRONICLE
The outlook in the Southwest, on the other hand,
appears to be for an unsurpassed production.
The final estimates of the cereal crops in a num
•ber of instances indicate a greater production even
than did the preliminary approximations. In the
case of corn, however, where the indications a month
'earlier apparently pointed to a yield of 3,169 million
bushels, the final estimate puts the crop at 3,124,746,000 bushels. This is 593 million bushels more
than the total for 1911 and 197 millions greater than
the previous record crop of 1906. The current figures show a product of 26.7 bushels per acre, which,
,although exceeded in 1910 and 1006, is above the
average of former years. The 1912 crop, moreover,
is stated to be above the average in quality, increasing its food value. Along the Atlantic the weather
'conditions during the growing season were on the
whole less favorable than elsewhere, and in consequence the yield there shows practically no increase,
notwithstanding some additions to area. On the
other hand, the States of largest production, such as
Illinois, Iowa, Missouri, Kansas and Nebraska,
register great gains over 1911, while in Oklahoma the
yield is estmated as nearly three times that of last
year and the Texas crop,at 153 million bushels,compares with 69 millions.
The wheat yield of 1912 exhibits an increase of
109 million bushels over that of the preceding year,
and the aggregate production at 730,267,000 bushels
compares very favorably with the 1901 record of
748,460,000 bushels, considering the fact that in the
latest year the area from which the crop was harvested was somewhat less. Spring wheat was favored
by excellent weather conditions during most of the
season, and as a result the yield has turned out
greater than ever before. The spring-wheat crop
as now announced for 1912 is 330,348,000 bushels,
'comparing with only 190,682,000 bushels in 1911
and exceeding the previous record yield of 1909 by
39 million bushels. The average product per acre
is the highest, with but one exception (1895) of
which there is record. Winter wheat did not fare
as well. On the contrary, adverse conditions in
the winter and early spring reduced the promise
of outturn quite materially. Favorable weather
later on improved the prospect somewhat, but the
final estimate of the Department of Agriculture is
399,919,000 bushels, as against 430% millions in
1911 and the record total of 493 millions in
1906.
In oats, from an area virtually the same as in 1911,
a prodigious crop has been secured and of above
average quality. The year's production is stated as
1,418,337,000 bushels, or 496 millions more than in
1911 and 232 millions greater than the record aggregate of 1910. The barley crop also exhibits a
noteworthy gain over that of 1911, the comparison being between 223,824,000 bushels and 160,240,000 bushels, and it exceeds the previous large
crop (that of 1906) by 46,000,000 bushels. The
yield of rye for the season, placed at 35,664,000
bushels by the Department, also sets a new high
mark in production as does buckwheat and flaxseed.
The last-named, it is to be noted, is latterly being
more or less extensively used in conjunction with
,cereals as a breakfast food. To indicate the aggregate yields for the last four seasons of the five
principal cereals referred to above (corn, wheat,
oats, barley:andjrye) we give the following table.
1715
CROPS OF WHEAT, CORN, OATS, BARLEY AND RYE.
Total
Department.
l'roctuction.
1912.
Corn
Wheat
Oats
Barley
Rye
Total
Department. I Department.
1911.*
1910.*
Census.
1909.
Department.
1909.
Bushels.
Bushels.
Bushels. I Bushels.
Bushels.
3,124.746,000 2,531,488,000 2,886,260,000 2,552,189,630 2,772,376,000
730,267,000 621,338,000 635,121,000 683,349,647 737,189,000
1,418,337,000 922,298,000 1,186,341,000 1,007,129,447 1,007,353,000
223,824,000 160,240,000 b173,832,000 b173,321,000 170,284,000
35,664,000
32,239,000
33,119,0003 634,897,000 b29,520,000
5,532,838,000 4,268,483,000,4,916,451,000 4,445,509,724,4,719,441,000
*Department totals revised on basis of Census results for 1909.
The foregoing furnishes conclusive evidence of
the productiveness of 1912, the aggregate for the
five cereals showing an improvement over 1911 of no
less than 1,264 million bushels and a gain over
1910 of 616 million bushels.
What is true of grain is equally true of other of
our important crops. The potato yield, for instance, is also of record proportions, the Department
estimating the product per acre at 113.3 bushels,
or the greatest on record, giving for the area planted
a total of 420,647,000 bushels, or some 128 million
bushels in excess of 1911.
The hay crop also exhibits a very large increase,
the aggregate product being placed at 72,691,000
tons, whereas heretofore the largest yield was that of
1908-70% million tons. Fruits, moreover, were
in more abundant supply than usual. One of the few
exceptions to the rule of larger crops is tobacco,
which, though giving a better yield than in 1911,
owing to a considerable increase in the area planted,
fell behind 1910 and 1909 in productiveness.
The Department of Agriculture attempts to extend the scope of its final report on the leading crops
by undertaking to show their value to the producer, using as a basis for so doing the farm value per
unit on Dec. 1. This would seem to be a rather inconclusive method of determining value, but we present the result for the five principal crops as announced officially as a matter of record:
FARM VALUES ON DECEMBER 1.
Crops.
Corn
Wheat
Oats
Barley
Rye
Total
1912.
1911.
1909.
1910.
1908.
$
$
$
$
1,520,454.000 1,565,258,000 1,384,817,000 1,477,223,000 1,616,145,000
555,280,000 543,063,000 561,051,000 673,653,000 616,826,000
452,469,000 414,663,000 408,388,000 405,120,000 381,171,000
112,957,000 139,182,000 100,426,000 93,526,000
92,442,000
23,636,000
21,164,000
24,953,000
27,557,000
23,455,000
2,664,796,000 2,689,723,000 2,479,635,000 2,670,686,000 2,730,039,000
The average farm values on Dec. 1, as reported by
the Department in each of the last seven years, for
some of the leading crops are subjoined.
AVERAGE PRICES RECEIVED BY FARMERS AND PLANTERS.
1909.
1912.
1911.
1910.
Cents.
Wheat
per bushel 76.0
Rye
66.3
Oats
31.9
Barley
"
50.5
Corn
48.7
13uckwheat
"
66.1
Potatoes
"
50.5
Flaxseed __...
"
115.0
93.5
Rice
Cents.
87.4
83.2
45.0
86.9
61.8
72.6
79.9
182.0
79.7
Cents. Cents.
88.3
98.6
71.8
71.5
40.2
34.4
54.0
57.8
48.0
57.9
70.1
66.1
55.7
54.1
232.0 153.0
67.8
79.4
.11
1907.
1906.
Cents. Cents.
92.8
87.4
73.1
73.6
44.3
47.2
66.6
55.4
51.6
60.6
75.6
69.8
70.6
61.7
118.4
95.6
81.2
85.8
Cents.
66.7
58.9
31.7
41.5
39.9
59.6
51.1
101.3
90.3
1908.
In addition to the above, the farm value of hay
Dec. 1 is stated at $11 79 per ton, against $14 29 per
ton in 1911, $12 14 in 1910, $10 62 in 1908 and
$8 98 in 1908. The value of tobacco at 10.8 cents
per pound in 1912 compares with 9.4 cents the previous year, 9.3 cents in 1910 and 10.1 cents in 1909
and 10.3 cents in 1908.
We now append a table showing the wheat, corn,
oats, cotton and potato crops for the last 30 years
1883 to 1912, inclusive-thus giving opportunity for
the reader to see at a glance the comparison the 1912
figures make with those for a more extended period
of years than in the compilations given further above:
THE CHRONICLE
1716
CROPS OF WHEAT, CORN. OATS. POTATOES AND COTTON SINCE 1882.
Year.
1883
1884
1885
1886.
1887
1888
1889
{
1889 (Cen)
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1899 (Cen)
1900
1901 a
1902
1903
1904
1905
1906
1907
1908
1909
1909 (Cen)1
1910 b
1911
1912
Wheat.
Bushels.
421,086,160
512,765,000
357,112,000
457,218,000
456.329,000
415,868,000
490,560,000
468,373,968
399,262,000
611,780,000
515,949,000
396,131,725
460,267.416
467,102,947
427,684,347
530,149,168
675,148,705
547,303,846
658,534,252
522,229,505
748,460,218
670,063,008
637,821,835
552,399,517
692,979,489
735,260,970
634,087,000
664,602,000
737.189.000
683,349,607
635,121,000
621,338,000
730,267,000
Corn.
I
Bushels.
1.551,066,895
1,795,528,000
1,936,176.000
1,665.441,000
1,456,161,000
1,987,790,000
2,112,892,000
2,122,327,547
1,489,970,000
2,060,154,000
1,628.464,000
1,619,496,131
1,212,770,052
2,151,138,580
2,283,875,165
1,902,967,933
1,924,184,660
2,078,143,933
2,666,324,370
2,105,102,516
1,522,519,891
2,523,648,312
2,244,176,925
2,467,480,934
2,707,993,540
2,927,416.091
2,592,320.000
2,668,651,000
2,772,376,000
2,552,189,630
2,886,260,000
2,531,488.000
3,124,746,000
Oats.
Cotton.*
Bushels.
Bales.
571,302,400 5,714,052
583,628,000 5,669,021
629,409,000 6,550,215
624,134,000 6.513,623
659.618,000 7,017.707
701,735.000 6,935,082
751,515,000 17,313.720
809,250,666 f
523,621,000 8,655.616
738,394,000 9,038,708
661,035,000 6.717.147
638,854,850 7,527,212
662,086,928 9,892,761
824,443,537 7,162,476
707,346,404 8,714,011
698,767.809 11,180,960
730,905,643 11.235,383
798,177,713 9,439,559
943.389,375
809,125,989 10,425,141
736,808,724 10,701,453
987,842,712 10,758,326
784.094,199 10,123,686
894,595.552 13,556,841
953,216.197 11,319,860
964,904,522 13,550.760
754,443,000 11,581,329
807,156,000 13,828,846
1007,353,0001 10,650.961
1007,129,447 r
1186,341,000 12,132,332
922,298.000 16,043,316
1418,337,000 d13820000
Potateos.
Bushels.
208,164,425
190,642,000
175,029,000
168,051,000
134,103,000
202,365,000
204,881,441
217,546,362
148,289,696
254,423,607
156,654,819
183,034,203
170,787,338
297,237,370
252,234,540
164,015,964
192,306,338
228,783,232
273,318,167
210,926,897
187,508,087
284,632,787
247,127,880
332,830,300
260,741,294
308,038,382
297,942,000
278,985,000
376.537,000
389,191,965
349,032,000
292,737,000
420,647,000
a These are the revised grain figures of the Agricultural Department issued after
the Census reported Its results for 1899, showing much larger totals than those of
the Department. b These are the revised grain figures issued after the Census reported its results for 1909, showing smaller totals for wheat and corn than those of
the Department.
These are our own figures. d Estimate of the Department of
Agriculture.
ELECTRIC RAILWAY SERVICE IN
PENNSYLVANIA.
An innovation in trolley service in the State of
Pennsylvania has taken place which is of much interest to investors, as the evolution of a trolley road,
built originally simply to carry passengers, into a line
which carries through passenger traffic in competition with steam railroads, and also transports freight,
besides accommodating one of the most enterprising
express companies in the country. The line also
carries the mails and sells electric current for light
and power over a wide area. This transformation
has been brought about in the property of the Lehigh
Valley Transportation Co., which was financed by
Brown Brothers & Co. and Edward B. Smith & Co.
of Philadelphia.
Years ago the West took the lead in trolley development, which has reached a high state of perfection in California, (especially in and about Los Angeles), in Illinois, Indiana and Ohio. Several lines in
New York State have been advanced to a superior
grade of service, but, generally speaking, the Eastern
States are still far behind the West in this respect.
This makes the work of the Philadelphia bankers
somewhat conspicuous, although their efforts may
scarcely be considered as experimental.
The Lehigh Valley Transit Co. has long had a
road from Allentown in Lehigh County to Chestnut
Hill in the northern part of Philadelphia. For the
purpose of obtaining a shorter and much quicker
route, the transit company has built a cut-off 10.34
miles long from Lansdale to Norristown,where connection is made with a new six-mile extension of the
Philadelphia & Western Ry., financed by the same
bankers. A through limited passenger service has
been established between Allentown and Philadelphia, a distance of 56.5 miles, to the western terminus
of the elevated road of the Philadelphia Rapid Transit Co. Fourteen limited cars are operated daily in
either direction, making the through run in two hours
and a quarter, or two hours and thirty-two minutes
to the City Hall, Philadelphia, with a single stop in
the principal towns along the route. The time is
about five minutes longer than by the Philadelphia
& Reading Ry., and the fare for the round trip is
about one dollar less than by the steam railroad. The
new line is called the "Liberty Bell Route," because
[VoL. Lxxxxv.
it fol1owss'c1oselyi-the7course7of,the historic bell:from
IndeandenalHallito Allentownlat the time it:was
removediandr_secreted in order to prevent itIfrom
77tinto:thelhands'of the British'during the War
fa
of the RevolutionZwhenIthey took possession of
Philadelphia.
With itsEnew!connectimithel Lehigh Valley Transit
Co. becomes a competitor of a steam railroad for
through as well as local passenger traffic, and for
the transportation of freight, express and mail. For
passenger service the company has procured steel
coaches, which are said to be the first ever built for
trolley service. In addition to Pullmans there are
regular coaches on which no extra fare is charged..
Some of these coaches are club smokers, having an
apartment for baggage, a room for card-playing,
another for smoking, equipped with leather-covered
arm-chairs, while the rear portion of the car is supplied with upholstered seats, racks for small baggage
and a toilet room.
The freight service, which is operated by way of
Chestnut Hill, has yielded the company $40,000
gross during the past year and $14,000 net, and is
increasing very fast. A contract recently signed with
the Adams Express Co. gives that corporation entirely, new territory which has heretofore been
covered exclusively by the United States Express Co.
This is one method which the Adams Express Co. is
adopting to overcome any loss of business wich it
may sustain through the parcels post.
The transit company has already done much
to improve its old road-bed by laying 80-pound rails,
eliminating curves and lessening grades. One cutoff is 12,900 feet long,on private right of way, and
the grade is lowered from 932 to 532%. This cut-off
has reduced the mileage 7,980 feet, effecting a saving
of fifteen minutes in running time. Much more
work of this kind is required and it is expected to
accomplish this gradually. Sharp curves must be
eliminated, as the management intends to operate
trains of five cars when the traffic warrants. More
cut-offs have been surveyed. All new construction is
on private right of way and is made with a view to
double-tracking.
One of the greatest improvements now under way
is a concrete viaduct 2,600 feet long and 150 feet
high at its highest point. This is said to be the
longest concrete bridge in the world. It connects
two parts of Allentown which are separated by a deep
cut. The structure is a toll bridge, and it will be, it is
thought, more than self-sustaining from the start.
The power plant of 25,000 horse-power is equipped
with Westinghouse modern machinery. It supplies
current all the way to Norristown, 43 miles distant,
there being ten transforming stations on the route.
In addition to supplying the needs of the trolley
company for its many branches radiating out of Allentown, the plant generates current Which enables the
company to take municipal lighting contracts and to
sell power over a wide area, such populous towns as
South Bethlehem being in the circuit.
The progressive ideas are largely due to the President, R. P. Stevens. He has been able to push the
work and at the same time add to the business, so
that, notwithstanding an increase in fixed charges,
the company's annual surplus has not been curtailed.
Through the ingenuity of Mr. Farquhar, Engineer
of the Philadelphia & Western Ry., a folding shoe
has been devised which works automatically as a car
enters upon or leaves the third-rail system of the
DEC. 28 1912]
THE CHRONICLE
Philadelphia & Western. The six-mile extension of
the Philadelphia & Western from Villa Nova to Norristown, which was built expressly to complete the
through route to Philadelphia, is a very expensive
piece of work. There was excavated 520,000 cubic
yards of rock and earth, one cut being 2,100 feet long
and one fill being 3,300 feet in length. The Schuylkill River was bridged and grade crossings have been
avoided. This is a double-track road, with 85-pound
rails and ballasted with rock and furnace slag.
As one passenger expresses it, a person may now
travel from Allentown to New York by way of
Philadelphia without requiring either an overcoat or
an umbrella. For summer traffic through cars
will be operated between Philadelphia and the Delaware Water Gap. The same arrangements with
transfer companies as to the collection, delivery and
checking of baggage is made as exists with the steam
railroads. A high-speed interurban electric service
seems to supply all the features of the steam railroads
and avoid smoke and cinders.
A SUGGESTION REGARDING THE INCOME TAX.
Salisbury, Maryland, Dec. 7 1912.
Editor the Commercial and Financial Chronicle:
Dear Sir—May I ask an expression of your opinion upon
the following?
If, as seems probable, incomes are to be taxed in the
United States, should not savings be included among the
exemptions from such tax?
It seems to be generally conceded that the average cost
of frugal living should be exempted, and if this be sound, I
fail to see why savings are not almost equally entitled to
exemption.
Suppose the income of either an individual or family is
$2,000 in excess of the exemptions provided for cost of frugal living, is not the nation vitally interested in whether that
$2,000 is needlessly spent for luxuries or whether it is saved?
The difference in the effect upon the individual or family
is obvious. But in addition to this very important consideration, especially in a country like ours, where national.
State, municipal, family and individual extravagance is the
rule, and thrift the exception, there is the almost equally
important consideration that surplus income saved, in any
community, is immediately available for reinvestment in
further developing the resources of that community or nation,
while surplus income needlessly spent may give employment
and profit to many people; but we do not know where those
people are. Most of them are certainly in communities
other than those in which the surplus income is received and
many of them may be foreigners.
If we aspire to be a nation of money spenders, a tax on
savings may be justifiable; but not if we aspire to be a nation of savers and lenders.
If we must have an income tax, should we not penalize
extravagance and encourage thrift by confining the application of the tax to that part of income which lies between
necessary cost of frugal living on the one hand and savings
on the other hand, or, in other words, to needless expenditures?
Very truly yours,
THOMAS CLYDE.
BANKING, LEGISLATIVE AND FINANCIAL NEWS.
—The only public transaction .in bank stocks this week
was a sale at auction of 100 shares of stock of the Manufacturers' National Bank of Brooklyn (ex-dividend) at 416.
No trust company stocks were sold.
Shares. BANK—Brooklyn.
Low. High. Close. Last previous sale.
100 Manufacturers' Nat. Bank__ 416 416 416
Apr. 1912— 415%
—The New York Cotton and Coffee Exchanges were
closed on Thursday in addition to Wednesday, Christmas
Day.
—In printing "The Statistics Regarding Banking Control"
which we published in last week's issue(Dec. 21),part of the
reference relating to the Mercantile National Bank (on page
1657) was inadvertently inserted under the heading of the
"Merchants' National Bank" of this city. In other words,
under the name of the Merchants' National Bank the following paragraph appeared: "This bank recently consolidated
1717
with the Irving National Bank, &c." Obviously this was
meant to apply to the Mercantile National Bank, which was
merged with the Irving National Exchange Bank, as our
readers well know.
—Exception is taken by the Mutual Life Insurance Co. to
the figures of its average bank balances as shown in the table
presented to the Congressional committee which has been
inquiring into banking and monetary conditions. The figures were placed before the committee by one of its accountants at last week's hearing and were included in the statistics published by us last Saturday. The following letter,
describing them as "grossly inaccurate and misleading," has
been addressed by Charles A. Peabody, President of the
Mutual Life, to N. B. Hadley, Chief Examiner of the State
Insurance Department:
December 21 1912.
N. B. Hadley, Esq., Chief Examiner Insurance Department, 165 Broadway.
My Dear Mr. Hadley—Referring to our conversation of yesterday, in
the course of which you asked me as to the truth of the testimony given by
the accountant of the (so-called) "Pujo Committee" as to this company's
average bank balances for the year 1911. I beg to say that the testimony
as published in the daily papers of Thursday is grossly inaccurate and misleading. Following your suggestion. I have had a statement made up
showing the actual average bank balances in the City of New York for the
years 1909, 1910 and 1911, these being the years as to which the testimony
was given. They are as follows:
1909.
1910.
1911.
Average Daily Bank Balances.
$722,531 $513,574 $538.590
National Bank of Commerce
429,549
315,432
359,656
First National Bank
116,802
108,807
127,480
American Exchange National Bank
33.387
45.660
Bank
Liberty National
581,232
335,205
2,238,219
Guaranty Trust Co
489,041
215,068
870,547
United States Mortgage & Trust Co
1,301,864 2,460.214
Farmers' Loan & Trust Co
Yours very truly,
(Signed) CHARLES A. PEABODY, President.
The average balances of the Mutual as given in the accountant's tables were as follows:
National Bank of Commerce
First National Bank
American Exchange National Bank
Farmers' Loan & Trust Co
United States Mortgage & Trust Co
Guaranty Trust Co
1911.
1910.
1909.
$1,844,395 $1,044,601 $1,424,152
558,214
736,706
638,352
655,213
1,471,700 2,872,986
1,253,583
954,166
3,137,500
The figures prepared by the accountant, it is contended,
represent the average of the largest balance for each month,
whereas it is argued that the average for the year should
have been based on the average monthly balance.
—At the third annual dinner of the Corn Exchange National Bank of Philadelphia on the 12th inst.former Governor
E. C. Stokes of New Jersey commented upon the attacks
made by the Committee of Congress on banking practices
and the failure of the bankers to properly defend themselves
against such attacks. Mr. Stokes said:
I have a supreme contempt for the public man who takes refuge behind
that manifestation of cowardice called "silent contempt" when he is the
Subject of charges. Men of backbone and honor never rest content under
public attacks, nor will they, despite tho unfair and growing tendency in
this Republic, where, despite boasts of fairness, public servants are constantly and bitterly attacked in speeches in public prints, in the more deadly
cartoon, by men who have not the slightest idea of the motive underlying
the acts they assail.
And my contempt in that particular extends to that great body of men,
now under attack in this country, who have failed to raise voices in defence
of the honesty and honor of American banking.
Mr. Untermyer has been permitted to go to Washington and deliver a
sweeping attack, some of it true, much of it a tissue of gross exaggerations,
and not one President of an American bank has had the courage to go to
Washington to make answer. If, out of those charges, and the investigation now being conducted by the Pujo committee, there comes legislation
inimical to the interests of legitimately conducted banking interests, the
American banker himself must bear the responsibility because of his
pusillanimous cowardice.
About one hundred and twenty-five were present at the
banquet, including clerks, directors and invited guests.
The bank dates back to the Civil War (it was organized as a
State institution in 1858) and the principal talks at the dinner
centered around President Lincoln and his life. The affair was
was managed by W.N. Willits Jr., Cashier of the institution.
—In a well-timed statement published in the Philadelphia
"Ledger" of the 12th inst., Francis B. Reeves, President of
both the Girard National Bank and of the Philadelphia
Clearing-House Association, presents an effective defense
of the business operations of banking institutions and clear•
ing houses. Mr. Reeves says:
While it may be surmised that the Pujo Committee will recommend to
Congress the incorporation of clearing-house associations, with Government
regulation, it is uncertain whether Congress will agree to this, and it is impossible to forecast the outcome of the search for a giant power controlling
all the banking interests and stock exchanges of the United States.
While it cannot be contradicted that there are men controlling vast financial and commercial affairs, not only in our land but all over the world,
yet it is a blunder to assert that they can blast the interests of the people
at their will. One thing is certain; they do not interpose to the injury of
the business interests in general, as the wondrous development and glorious
prosperity of the United States abundantly attests.
Speaking for Philadelphia, our banking interests are absolutely ind6dent of such a power, if it exists. The same is true of the Philadelphi
1718
THE CHRONICLE
Clearing-House Association. Evidence of this fact was clear to the Pujo
Committee and to its counsel, prior to their probe into clearing-hcuse
methods last Monday; hence the extreme brevity of their examination of our
representatives.
Answering a letter from Mr. Pujo some time ago, I wrote in regard to
our Clearing-House Examiners' Department:
"After the regular examination of a member bank, the examiner delivers
his report to the Committee of Seven and it is filed and locked in a vault,
unopened. If the examiner recommends that additional security for exchanges or some special advice from the committee is desirable, he so
informs the committee. None of his reports ever go to the association.
If there is competition as opposed to combination in any branch of the
business, it is fully matched by the competition between the banks of
Philadelphia."
This need not be construed as in opposition to practices prevailing elsewhere. If in any city banks unanimously agree to their clearing houses
establishing a clearing business for collection of country, as well as city,
checks and drafts, as has been the usage in London for more than half a century, and is now done by the New England Department of the Boston
Clearing House, nobody can criticize it. Nor will any intelligent, honest
man dare to demand that under all conditions a bank must make all of
its collections of out-of-town, far-away checks at its own loss of time and
the cost of such collections. A bank might be embarrassed if it should do
a vast collection business of country checks without remuneration, either
by a good bank balance or by the payment by the depositor of the actual
cost of such service.
Differentiating as we must between the functions of a clearing house,
which serves its members only by exchange of checks and drafts upon themselves, and the larger sphere Of collections of the vastly greater number
drawn on thousands of banks and trust coMpanies all over the country,
received daily by mail or deposited at the counter, it will be readily understood that the problem of providing a way of so extending the function of
a large city clearing house as to systematize and reduce the expense and loss
of time in making collections of these checks and drafts is most important to
banks universally, and, if important to them, it is quite as vital to every
business interest, small or great. For, be it remembered, there is no branch
of business in the world that is of equal value in the service of all other
branches than are banks of deposit and discount. Some bank depositors fail
to realize that their bank, if well managed, is of quite as great value to
them as they are to the bank. Their connection is of a mutual-beneficial
character.
Persons who endeavor to sow seeds of discord, promoting the socialistic
fallacy that banks and clearing associations in general are allied with a
money trust, are, to say the least, ignorant. Some of them have published
it abroad that a clearing house examination department is a smelling committee. They think it is folly to be wise, whereas, it is known by every one
who is not an ignoramus that the clearing-house examiner, following the
Federal and State supervisors and directors' committees along their way,
only more frequently and more thoroughly, thereby guards alike the interests of the shareholder, the depositor and the people generally. There
exists a close alliance of interest between big business and little business,
between the great manufacturer and merchant and the small consumer.
National, State and clearing-house examinations are of inestimable value
in inspiring confidence, in the insurance of safety, in avoiding failures in
times of panic and in the welfare of shareholders, of whom often a large proportion are persons of small means, many of them women.
Responsibility for money troubles must be 'placed where it belongs, and
we may be sure it will be in course of time, if not under our now national
Administration, where we may well trust that it may be faithfully discharged.
—President Taft on the 16th inst. instructed the Secretary
of Agriculture to appoint Dr. Carl L. Alsberg as Chief of the
Bureau of Chemistry of the Department of Agriculture, to
succeed Dr. Harvey W. Wiley, who resigned last March.
Dr. Alsberg is a chemist in the Bureau of Plant Industry of
the Department of Agriculture.
•
—By a vote of 58 to 18 the Senate on the 16th inst. elected
Senators Jacob M. Gallinger of New Hampshire and Augustus 0. Bacon of Georgia as alternating Presidents pro tem.
for the remainder of the session. Senator Bacon had been
serving in that capacity from the opening of the present
session until the 14th in accordance with an agreement reached
at the previous session. Senator Gallinger will preside from
Dec. 16 to Jan. 4; Senator Bacon from Jan. 6 to 18; Senator
Gallinger from Jan. 20 to Feb. 1; Senator Bacon from Feb. 3
to 15, and Senator Gallinger for the remainder of the term
to March 3.
—The Burnett Immigration bill, carrying a literacy test
for aliens seeking admission to the United States, was passed
by the House of Representatives on the 18th inst. by a vote
of 179 to 52. It will be recalled that the Senate on April 19
passed the Dillingham Immigration bill; in June the House
Committee on Immigration and Naturalization voted to report the Dillingham bill in an amended form by striking
out everything after the enacting clause and substituting
therefor • the Burnett bill. On Tuesday, the 17th, the
House accepted the Burnett amendment by a vote of
202 to 62; the next day being calendar Wednesday, and
Thursday being the date on which Congress would adjourn
for the Christmas holidays, it was not expected that final
action would be taken by the House until after the first of
the year. A motion to dispense with the calendar for the
clay carried, however, and the bill was taken up for final
consideration and passed by the vote indicated-179 to 52.
On Thursday, the 19th inst., the Senate refused to concur
in the House amendments, and the bill thus goes to conference. While the Dillingham bill would exclude with certain exemptions all aliens over sixteen years of age who Cannot
read and write, the Burnett bill makes ineligible for admission
' aliens over sixteen years of age, physically capable of
1%11
[VoL. Lxxxxv
reading, who cannot read the English language, or the language or dialect of some other country, including Hebrew
or Yiddish." The provisions of the .two bills are in most
respects similar otherwise; for instance, the section governing
the exemptions are identical in the two, this section reading
in each case as follows:
Section 3. That the following classes of persons shall be exempt from
the operation of this Act, to wit: (a) All aliens who shall prove to the satisfaction of the proper immigration officer or to the Secretary of Commerce
and Labor that they are seeking admission to the United States solely
for the purpose of escaping from religious prosecution; (b) all aliens in
transit through the United States; (c) all aliens who have been lawfully
admitted to the United States and who later shall go in transit from one
part of the United States to another through foreign contiguous territory.
The Burnett bill also contains the following provision:
Provided, That any admissible alien, or any alien heretofore or hereafter
legally admitted, or any citizen of the United States, may bring in or send
for his father or grandfather over 55 years of age, his wife, his mother,
his grandmother or his unmarried or widowed daughter,if otherwise admissible, whether such relative can read or not, and such relatives shall
be permitted to land.
The Dillingham bill provides that "any admissible alien
or any alien heretofore or hereafter legally admitted to this
country may bring in or send for his wife, his children under
18 years of age and his parents or grandparents over 50 years
of age, if they are otherwise admissible, whether they are
so able to read and write or not."
•
—The names of those who are to compose the Commissi on
on Industrial Relations were sent to the U. S. Senate by
President Taft on the 17th inst. The creation of the commission was authorized under a bill passed at the last session
of Congress and signed by President Taft on Aug. 23. Tina
Act calls for an inquiry into the general conditions of labor,
the existing relations between employers and employees, &c.,
to the end that the commission may "discover the underlying causes of dissatisfaction in the present industrial situation and report its conclusions thereon." The President
urged that an investigation of this sort be undertaken in his
message of Feb. 2 of this year. It is provided that the commission shall consist of nine persons, not less than three of
whom must be employers of labor and not less than three
representatives of organized labor. Those nominated by
the President are as follows: Representing the people—
U. S. Senator George Sutherland of Utah; George B. Chandler, a member of the Connecticut Legislature; Charles S.
Barrett of Georgia, President of the Farmers' Union. Representing capital—Frederick A. Delano, of Illinois, President
of the Wabash RR.; Adolph Lewisohn of Now York, merchant and philanthropist; F. C. Schwedtman of St. Louis,
Vice-President of the National Manufacturers' Association
and an electrical engineer. Representing labor—Austin B.
Garretson of Iowa, President of the Order of Railway Conductors; John B. Lennon of Illinois, Treasurer of the American Federation of Labor,and James O'Connell of the District
of Columbia, Vice-President of the American Federation of
Labor. We give below the full text of the Act:
An Act to create a Commission on Industrial Relations.
Be it enacted by the Senate and House of Representatives of the United States
of America in Congress Assembled, That a commission is hereby created to
be called the Commission on Industrial Relations. Said commission shall
be composed of nine persons, to be appointed by the President of the United
States, by and with the advice and consent of the Senate,not less than throe
of whom shall be employers of labor and not less than three of whom shall
be representatives of organized labor. The Department of Commerce
and Labor is authorized to co-operate with said commission in any manner
and to whatever extent the Secretary of Commerce and Labor may approve.
Sec. 2. That the members of this commission shall be paid actual traveling and other necessary expenses and in addition a compensation of ten
dollars per diem while actually engaged on the work of the commission and
while going to or returning from such work. The commission is authorized
as a whole, or by sub-committees of the commission, duly appointed, to
hold sittings and public hearings anywhere in the United States, to send
for persons and papers, to administer oaths, to summon and compel the
attendance of witnesses and to compel testimony, and to employ such secretaries, experts, stenographers and other assistants as shall be necessary to
carry out the purposes for which such commission is created, and to rent
such offices, purchase such books, stationery and other supplies, and to
have such printing and binding done, as may be necessary to carry out the
purposes for which such commission is created, and to authorize its members
or its employees to travel in or outside the United States on the business
of the commission.
Sec. 3. That said commission may report to the Congress its findings
and recommendations and submit the testimony taken from time to time,
and shall make a final report accompanied by the testimony not previously
submitted not later than three years after the date of the approval of this
Act, at which time the term of this commission shall expire, unless it shall
previously have made final report, and in the latter case the term of the
commission shall expire with the making of its final report; and the commission shall make at least one report to the Congress within the first year of
its appointment and a second report within the second year of its appointment
Sec. 4. That the commission shall inquire into the general condition
of labor in the principal industries of the United States, including agriculture, and especially in those which are carried on in corporate forms into
existing relations between employers and employees; Into the effect of industrial conditions on public welfare; and into the rights and powers of tho
community to deal therewith; into the conditions of sanitation and safety of
employees and the provisions for protecting life, limb and health of t
DEO 28 1912.]
THE CHRONICLE
employees; into the growth of associations of employers and of wage earners and the effect of such associations upon the relations between employers
and employees; into the extent and results of methods of collective bargaining; into any methods which have been tried in any State or in foreign countries for maintaining mutually satisfactory relations between employees
and employers; into methods for avoiding or adjusting labor disputes
through peaceful and conciliatory mediation and negotiations; into the
scope, methods and resources of existing bureaus of labor and into possible
ways of increasing their usefulness; into the question of smuggling or other
illegal entry of Asiatics into the United States or its insular possessions,
and of the methods by which such Asiatics have gained and are gaining such
admission, and shall report to Congress as speedily as possible with such
recommendation as said commission may think proper to prevent such
smuggling and illegal entry. The commission shall seek to discover the
underlying causes of dissatisfaction in the industrial situation and report
its conclusions thereon.
Sec. 5. That the sum of one hundred thousand dollars is hereby Appropriated out of any money in the Treasury of the United States not otherwise
appropriated for the uSe of the commission for the fiscal year ending June
30 1913: Provided, That no portion of this money shall be paid except upon
the order of said commission, signed by the chairman thereof; Provided,
That the commission may expend not to exceed five thousand dollars per
anntttn for the employment of experts at such rate of compensation as may
be fixed by the commission, but no other person employed hereunder by the
commission, except stenographers temporarily employed for the purpose
or taking testimony, shall be paid compensation at a rate in excess of three
thousand dollars per annum.
Approved. Aug. 23 1912.
—More intensive farming and the adoption of improved
methods of agriculture are urged as the remedy for the high
cost of living by Prof. Milton Whitney, Chief of the Bureau
of Soils of the Department of Agriculture at Washington.
We quote Prof. Whitney's remarks in the matter as printed
in the "Journal of Commterce":
The lever that will break the backbone of high price foodstuffs is more
intensive farming, cultivation of unoccupied lands near the largo cities
and
more intelligent methods of agriculture. The country is advancing in
every
lino. People are living better then over before. As a result, we are stronger
physically and mentally. We are consuming more foodstuffs per capita
than the population of the European countries, and I would not for a
moment attempt to discourage less food consumption. But it is plain
that
until we get - a larger supply of foodstuffs we can expect the present high
cast of living to continue.
Let us touch the producing side of the question. For instance, the States
north of the Potomac and east of the Ohio rivers have a total area of
112,322,886 norm. The area under cultivation in this tetritory is estimated
at a little over 40,000,000 acres. Added to this is 27,000,000 acres used
for forestry. So we have over 42,000,000 acres of idle land in the territory
lying in these States.
During the past thirty years the amount of land in use has steadily
decreased until it is now about 20% less than in 1880, while the country
as a
whole has been growing at a phenomenal rate.
The number of persons engaged in agricultural pursuits in the States
above mentioned has also decreased during the past thirty years, while the
total population has very largely increased.
There are at present, mark you, about 1,300,000 persons engaged in agriculture in the area under consideration, with a population of over 30,000,000
non-agricultural producers to be fed.
'rho Bureau of Sells estimates that the land under cultivation 10
the area
can be made to yield at least four times as much as at present
by more
intelligent and intensive.methods of farming. Moreover, the
same up-todate methods used on the idle land will have a yielding capacity
of over
eight times as much as at present.
Careful investigations conducted by the Bureau prove that those
lands
are well adapted to all classes of crops, from the early fruit, truck and vegetables to the latest storage fruits and vegetables for winter use, and to the
most intensive kind of dairy farming.
The theory that decadence of agriculture in this region was due to the
exhaustion of soils by long-continued cultivation has proved unfounded by
careful study and by officials of the Department of Agriculture.
The conditions in the eastern section of the country are similar to those
existing in other sections of the country. So whether the cost of living
is to be reduced or not, it is perfectly plain to even the layman's mind that
to feed the present and constant growing population of the country,a
greater
production of foodstuffs must be raised.
To do this more people have got to return to the farms; it is necessary
to
put more land under cultivation; more improved methods of agriculture
and more intensified farming must be followed.
I expect that this will be done at no distant date, but until it is done and
prosperous times continue to prevail, I am afraid that we cannot expect
a
substantial reduction in the high cost of living.
—Myron T. Herrick, Ambassador to France, who recently
arrived from that country for a brief visit here, was a speaker
at the opening of the Sixth Annual Convention of the Association of Life Insurance Presidents at the Hotel Astor on
the 5th inst. Ambassador Herrick, who has made an investigation of the agricultural credit systems in operation
abroad, entered into a discussion of that subject at the meeting, and in the course of his remarks said:
This subject of agricultural credits, while of great magnitude,
is really,
after all, not intricate. The operation of the Credit Fonder,
the Landschaften, the Raiffeisen and hundreds of kindred institutions
for ladd
and personal credit, so eminently successful and beneficial in their
results
hi Europe, can be very easily explained. It is simply an application
of
the story of the bundle of sticks tied together—singly, easily
broken
together, able to withstand any pressure.
Every year the farmer is spending something like $250,000,000
more
for interest than would be the ease if he were able to enjoy the
benefits
of this system. This SUM which he expends in interest should be
applied
to the development of the country. It has been estimated by good
authority that he needs immediately for legitimate development of
the soil more
than two billion dollars. Lot no one think that because a
little more
Interest may be obtained by a bank or investor under
present
that his prosperity would be lessened by the inauguratio of conditions
n
these agricultural credit systems. Quito the contrary;
such systems would mean
additional production of wealth. By this use
of credit $1 would then do
the work of $50 now. The benefit would not be confined
to the farmer
alone. It would necessarily extend to every class, and
be felt in every grade
1719
of industry, and the farmer's prosperity would ho reflected
throughout at
our social life—just as it is in Europe.
* * *
The whole question which is now being agitated
is the creation of a
"set-up' —a financial plan adapted from European
systems which will
finance our land at low rates of interest for long
time, and accompanying
that a system whereby the personal credit of the
farmer, by an arrange,
ment similar to the system in Germany,
may also be mobilized and put
on a sound basis.
In the creation of rural securities, I have
considered with especial interest the embodiment of a life insurance plan.
It would undoubtedly be of
great value to have the debenture, or security,
accompanied by such a
policy, which would insure the liquidation of the
indebtedness in case of the
death of the borrower. Furthermore, it would
give the rural community
which is almost a virgin field for life insurance,
an understanding of the
value of life insurance.
Jesse H. Clark, President of the Union Central Life Insurance Co. of Cincinnati, reviewed the forty-six years' experience had by his company with farm loans, stating, according
to the New York "Times," that it had in this period loaned
$132,000,000, of which $65,000,000 had been repaid and
$67,000,000 had not yet matured. He took occasion to remark that the fear of acquiring large quantities of unsalable
property through foreclosure was not borne out by that experience, and said, the "Times" reports, that his company
had only twelve pieces of property now in its possession
which had come to it through foreclosures in connection with
these large operations.
—Under an opinion of Attorney-General Carmody of New
York State, the stamp tax law is not applicable in the ease
of the sale or transfer of stock of joint-stock associations
where such stock has no face value. The Attorney-General
holds that the law is unworkable and inoperative in such
cases. We furnish below the full text of Mr. Carmody's
opinion.
Tax Law, Section 270. Transfer of stock of a joint-stock
association,
when taxable.
Sales or transfers of corporate stock without any nominal or par
value are,
by virtue of the provisions of Section 21 of Chapter
351 of the Laws of 1912,
taxable at the rate of two cents for each and every share
of stock so transferred, but this provision does not relate or apply to
the transfer ofstock
of a joint-stock association.
While the intent or purpose of the stock Transfer Tax
Law is to impose
a tax upon transfers of the stock of joint-stock associations
as well as corporations, it omits to provide any method for determining
the amount
of the tax in the case of the transfer of stock or stock certificates
which have
no face value, from which it follows that, if a certificate is
issued by a
joint-stock association for no face value, the statute as to such
transfers is
unworkable and inoperative.
INQUIRY.
•
Is there any provision of the Stock Transfer Tax Law for
the payment
of a tax upon the transfer of the stock of a joint-stock association
which
stock has no face value, but merely represents a certain interest
in the assets
of the association, and if so, on what basis can the amount of the
tax be
estimated?
OPINION.
As pointed out in a former opinion (Attorney-General's Report,
1911,
Vol. II., page 692), Section 270 of the Tax Law imposes a tax
upon the sale
or transfer of shares or certificates of stock of "associations" and
"companies" as well as of corporations, from which it would seem to
follow that
it was intended to, and I am of the opinion it in fact applies to,
transfers
of the stock of joint-stock associations.
By the terms of the Act, however, the tax is imposed at tire
rate of
cents "on each hundred dollars of face value or fraction thereof." two
The
face value of the stock is the sole and only rule or guide by which
the amount
of the tax can be ascertained. The Legislature seems not, in
the adoption of this law, to have contemplated or provided for the case of
the transfer of stock which has no face value, and accordingly as to
such the statute
is, in my opinion, unworkable and inoperative.
By Chapter 351 of the Laws of 1912, amending the Stock
Corporation
Law so as to atlthorize a stock corporation to issue stock without
any
nominal or par value, it is provided (Section 21) that "the
tax payable
under Section 270 of the Tax Law, in respect of any sale or agreement
of
sale or any memorandum of sale or delivery or transfers of shares
or certificate of any share without designated monetary value hereafter
issued
by any such corporation issuing such shares shall be at the
rate of two
cents for each and every share of such stock so transferred."
These provisions do not, in my opinion, relate or apply to
joint-stock
associations (People ex rel. Winchester vs. Coleman, 133 N.
Y., 279), but
relate exclusively to corporations.
Accordingly, I am of the opinion that if the stock of a joint-stock
association has a face value, it is taxable on a transfer thereof at the
rate of
two cents on each hundred dollars of face value or fraction thereof, but that
If it has no face value, the transfer thereof is not subject to the payment of
a tax.
If it is deemed desirable to tax this class of transfers, it will be necessary
to secure legislation similar to that provided by Chapter 351 of the laws of
1912.
Dated November 22 1912.
THOMAS CARMODY,
Attorney-General.
—Preliminary to the issuance of his annual report, of
which the subject of trust company mergers will be a feature,
George C. Van Tuyl Jr., New York State Superintendent
of Banks, has given out a statement wherein he takes occasion to note that the tendencies towards consolidations of
banks and trust companies, and particularly the latter, have
been marked for the past several years. Consolidations of
smaller banks, he says, have been approved in a number of
instances as bringing about a strengthening of the general
position, and mergers have resulted in the creation of larger
and stronger institutions. Mr. Van Tuyl states that ho will
again suggest to the Legislature the importance of an amend..
1720
THE CHRONICLE
VoL. Lxxxxv.
"Resolved, That the New York Branch of the National Coffee Roasters'
Association enter its formal protest against the statement made in the public press under date of Dec. 5 that Mr. Wickersham, Attorney-General of
the United States, in his recent report to Congress, had stated that, as a
result of the operations of a syndicate, the price of roasted coffee to conA good start along this line was made by the last Legislature in the enact- sumers had been more than doubled. Assuming this public statement to
ment of Section 304 of tho penal law, relating to the falsification of books, be a correct version of the Attorney-General's report, we feel this associareports or statements of corporations subject to the banking law by an officer, tion should communicate with him and endeavor to convince him that
director, trustee, employee or agent thereof. At the same time the Legis- the statement is, in the opinion of the association, absolutely inaccurate
lature very wisely amended the penal law so as to protect banking institu- and tends to prejudice the consumer against the distributors of roasted
tions against persons Ntilfully and knowingly making or circulating false coffee, both as roasters as well as retailers.
statements or rumors against them. If the proposed section adapted from
And be it further resolved, That the Secretary of this association be inthe National Banking Act with reference to misapplication of funds by structed to send a copy of this resolution to the Attorney-General at Washthe officers of banking institutions were inserted in the banking law, it ington."
would seem that nothing further would be required for the protection of
—Following the action brought in New York City last
depositors in financial institutions.
ment to the phraseology of existing sections of the penal law
to define more clearly what constitutes the misapplication
of funds in institutions under his supervision. He adds:
The Superintendent announces that the several classes of
institutions under his supervision reported during the year
aggregate resources of $4,366,697,806, an increase over the
previous year of $232,532,243.
In another recently issued statement,in which reference is
made to loans upon real estate security, Mr. Van Tuyl says:
The banking law of this State has at all times, and in the opinion of the
Superintendent of Banks wisely, permitted moneyed corporations organized
under it to make loans upon real estate security. The failures of State
institutions that occurred during the panic of 1907, however, demonstrated
the fact that this privilege had been grossly abused. Not only was the
aggregate of loans made by different failed institutions upon such security
unduly large, but the loans themselves were in many instances made upon
work
second and even third and fourth mortgages. Even at this time the
and in
of liquidating a number of these institutions is greatly impeded,
hopeless through the ownership of real
some instances rendered almost
loans.
estate subject to prior liens which has been taken on account of such
An examiner of this Department could not of course know whether the mortit as collateral security for the
gages taken by an institution or assigned to
payment of loans were first mortgages or otherwise unless a complete
abstract of title was filed with each mortgage, or he himself investigaged
the title at the office of the recording officer. While some reasonable limitations were placed upon such loans by an amendment to the banking law
adopted in 1908 as a result of an investigation into the conditions that had
*awed these failures, the difficulties noted were not obviated by this
amendment. In order to obtain more accurate information with regard
to such conditions, certain questions have been inserted in the form for reports to this Department required from banks and trust companies, which
are designed not only to give this Department accurate information with
regard to the amount of real estate loans but also with reference to the
mortgages outstanding upon real estate owned by the corporations, whether
assumed or not, and with reference to the total amount of prior mortgages
and liens underlying their loans. It is believed that compliance with the
new requirements will not only be of great assistance to this Department,
but will also bring home to the officers and directors of the institutions
themselves a realizing sense of the danger of such investments when they
have been allowed to become excessive, or have been made without sufficient investigation.
—At a meeting of coffee interests held on the 18th inst. at
the Coffee Exchange in this city, at the instance of Ross W.
Weir, President of the New York Branch of the National
Coffee Roasters' Association, a resolution was adopted
protesting against the passage of the bill introduced in the
House of Representatives on May 31 by Representative
Norris, supposed to be aimed at the alleged "coffee trust."
The proposed legislation would amend the anti-trust law so
as to extend its operation to international trade; it would
make illegal any combination of two or more importers of an
article when such a combination tends to restrain free cornprtition of commerce or to increase the price of the article.
The resolution reads as follows:
Resolved, That this meeting representing the coffee roasters,'importers'
jobbers and retailers of coffee in New York, enter their protest against
t,he passage of the bill known as II. It. 25002, now under consideration by
the Judiciary Committee of the United States Senate, as, in our judgment,
should it become a law it would work great injustice to the interests of the
entire coffee trade of the country. It would creats such an :element of
uncertainty and danger that it would tend to largely restrict importations,
and thereby naturally increase the cost to the consumer. Not only would
the importers be disinclined to incur the risks, but also the bankers issuing
tie credits against such transactions; be it further
Resolved, That it is the sense of this meeting that the Judiciary Committee of the United States Senate, now considering this bill, be requested
to give a committee representing this meeting an opportunity to present
their objections to said bill before taking further action in the matter, and
that this resolution be promptly forwarded to the Chairman of the Judiciary
Committee by the presiding officer and secretary of this meeting.
The committee named to represent the coffee interests
consists of Col. W.P.Roome,of Acker,Merrall & Condit Co.,
William Bayne Jr. of William Bayne & Co., and E. F.
Bushnell of Clark, Chapin & Bushnell. Representative
Norris was quoted as having made the following statement
concerning the bill on the 17th inst.:
"The bill is designed merely to afford a means for the Government to
reach such situations as the Brazilian valorization. We have laws prein
venting combinations, conspiracies, trusts, agreements or contracts
restraint of trade,so far as they apply to inter-State trade. My bill merely
extends those laws to like combinations and conspiracies affecting our international trade. It simply provides that where any material is subject to
an illegal conspiracy to advance prices, the Government may seize it and
appoint a receiver to sell it at public sale. That covers the entire scope
of my measure."
The New York Branch of the National Coffee Roasters'
Association has also voiced its disapproval of a statement
credited to Attorney-General Wickersham with regard to
the doubling of coffee prices. The following is the resolution
adopted (on the 13th inst.) on this point:
month under the Sherman Anti-Trust Law in an attempt to
dissolve an alleged "candy combine", a suit in equity was
begun in Philadelphia by the Government on the 13th inst.
against the Philadelphia Jobbing ConfectionerslAssociation,
in which it is stated the charge is made that the organization
is an illegal combination in restraint of trade and in violation
of the Sherman Anti-Trust Law. The defendants named in
the Philadelphia suit are Andrew C. Keeley, President;
John M. Miller and William Engel, Vice-Presidents; Charles
Schaefer, Secretary; William F. Haun, Treasurer; George
Eaton, Assistant Secretary; C. Pflaum, Joseph Cosa,ni, Louis
Weglein, E. C. Frey, J. H. Petrie, H. T. Whitehead, Louis
Neuhoff, W. C. Gerhard, George Reichel and David Deakyne, directors. The defendants will be required to appear
in the District Court on the first Monday in January and
their answer, according to the Philadelphia "Record," will
be filed within the succeeding month. The same paper says:
Almost 100 jobbers of Philadelphia are associated with the Philadelphia
Jobbing Confectioners. The trade alleged to be in their control is distributed mainly through Pennsylvania, New York, Maryland and New Jersey.
According to the bill filed against them, they have attempted to form in
restraint of trade a combination of all the jobbing houses, by which the selling of products directly to the small retailer or the consumer could be prevented. The retailer, under the system, could be prevented from obtaining the standard candy products if he bought from the unfriendly interests
and the manufacturer who sold to such a dealer could himself be restrained
from selling to the general trade through the medium of the associated
jobbers. The effect would be to allow complete domination of the candy
output and the fixing of prices agreeable to the jobbers.
The Government bill specifically charges, it is said, that
the workings of the association have been in violation of the
Sherman Anti-Trust Law and "in derogation of the common
rights of all the people of the United States," and it asks
that the officers and members of the association be restrained
from doing anything in furtherance of "the combine."
—In an opinion given out on the 12th inst. Judge McCarron, of the Dauphin County Court at Harrisburg, has decided that under the special trust company Act of 1907,
defining the value of taxable capital, the Girard Trust Co.
of Philadelphia must take into consideration the amount of
money invested by it in the construction of its building. The
law sets out that in figuring the tax on the capital, the actual
value of each share is to be ascertained and fixed by adding
together the amount of capital stock paid in, the surplus
and undivided profits, and dividing this by the number of
shares. The cost of the company's building, $1,500,000, was
paid for out of profits and it was contended by the management that the money thereby represented should not be
considered as subject to taxation. Judge McCarrell,whose
ruling was submitted on an appeal from the tax assessment
of the Auditor-General's office, decides otherwise, and holds
that the amount in question should be included for assessment. In part the opinion is as follows:
This is an appeal by the defendant from the settlement of its capital
stock tax for the year 1911. Trial by jury has been duly waived. The
facts are not disputed, and are as follows:
The defendant company,for the purpose of improving its real estate,
used $1,531,909 14 of its current and undivided profits in the erection and
equipment of an office building at the corner of Broad and Chestnut streets
In the city of Philadelphia. Thereupon it struck from the amount of profits,
as shown by its books, the amount so expended in the construction and
equipment of said building.
The accounting officers, in settling the amount of capital stock tax for
the year ending June 20 1911, added to the amount of capital stock paid in,
surplus and undivided profits, as shown by the report of the defendant
company, the sum of $1,500,000 for profits previously charged off because
of the expenditure of more than that stun from the profit account in the
construction and the equipment of the building, as above stated. The defendant company paid on account of capital stock tax $50,724 43, leaving
a balance due to the Commonwealth of $8,796 66, being the amount of tax
upon $1,500,000 of the amount of profits invested in the building.
The single question raised by the appeal is whether or not those profits
are to be considered in determining the value of the defendant's capital
Co.
stock for taxation. In the case of Commonwealth vs. Union Trust
of Pittsburgh, it was decided that the accounting officers of the State are not
and undivided profits of trust combound by the amount of capital, surplus
panies as reported by the corporate officers, but may inquire as to the value
of the property in which capital, surplus and undivided profits have been
Invested, and consider that value in settling the tax.
We are not satisfied from the evidence submitted that the property in
which the profits of the defendant company have been invested in this instance is of less value than the amount of profits expended therefor. Apparently, the accounting officers of the Commonwealth might have settled
the tax by considering the full amount of profits thus expended, and we see
DEC. 28 1912.1
THE CHRONICLE
no reason-why we should "makelany further deduction than the accounting
o cei7r7TOrnlready done. The profits were invested in the construction
and.:equipment of the building in question because the corporate officers
belleved]that such investment was for the benefit of the stockholders of the
corporation, and we are not satisfied from the evidence submitted to us
that any diminution of value has resulted from this investment.
We accordingly conclude that the defendant company is liable to the
payment of the tax, from the settlement of which it has appealed in this
case, and we therefore direct that judgment be now entered in favor of
the Commonwealth and against the defendant, unless exceptions be filed
within the time limited by law, as follows:
For tax claimed as per settlement, $8,796 56.
Attorney-General's commission, $439 82.
Total amount of judgment, $9,236 38.
—The purchase of one share of stock in a corporation does
not give to owner the rights lodged with a stockholder to
inspect the books of a corporation, according to a decision
rendered on the 18th inst. by Judge George L. Phillips of
the Common Pleas Court of Cleveland. Frank P. Whitney,
Principal of the Glenville High School, as the owner of one
share of stock in the American Shipbuilding Co., sued for the
right to examine the books of that organization. In its
answer the company contended that Whitney was not a
stockholder in good faith. The request made by Whitney
to have the company's answer stricken out was refused by
Judge Phillips, who held that -"if a stockholder's right to
examine books is unlimited, a shareholder or officer of a
rival concern might step in and use the privilege to wreck
a concern."
—Suit to dissolve the Elgin Board of Trade of Elgin, Ill.,
and the American Association of Creamery Butter Manufacturers, Chicago, was filed by the Government in the
U. S. District Court at Chicago on the 14th inst. In the
action, which is brought under the Sherman Anti-Trust law,
the defendants are charged with having entered into a conspiracy and combination in restraint of trade. The Government asks that the combination be declared illegal; that the
Elgin Board of Trade and Butter Manufacturers' Association be dissolved; that the defendants be enjoined from fixing
prices in any way, or quoting prices which do not represent
bona fide purchases and sales; that they also be enjoined from
making fictitious or "wash" sales for the purpose of misleading the public. The Government maintains, it is stated,
that the prices fixed on the Elgin Exchange are not the result of free and open competition regulated by actual sales
under the law of supply and demand; it is furthermore alleged that the price-fixing committee is controlled by large
butter manufactories and by cold-storage concerns. This
committee, the petition adds, "has acted arbitrarily and
without any regard to actual values, and fixes prices wholly
in the interest of conspirators." The Chicago "Inter-Ocean"
says:
The Government charges that large centralizing concerns are buyers
rather than sellers from May to August, when the bulk of the country's
that is stored
made,
when the priceis enhanced.
supply soca;gedtattAneanAasociaaonremeryuer
it is
Manufacturers, composed of about 46 firms and individuals, is used by the "conspirators" to maintain these seasonal differences in prices without regard
to trade conditions or competition.
The following are named as defendants in the action:
Elgin Board of Trade, Charles H. Potter, Elgin, Ill., President; H. C.
Christians, Richfield, Wis., Vice-President; J. P. Mason, Elgin, Treasurer;
Colvin W. Brown, Elgin, Secretary, and A. C. Hawley, Jerseyville, Ill.
American Association of Creamery Butter Manufacturers:James A. Walker,
Chicago, President; George E. Haskell, Lincoln, Neb., Vice-President,
William D. Hoard, Fort Atkinson, Wis., Treasurer; George L. McKay,
Chicago, Secretary. Members of the executive committee: E. H.Forney,
Abilene, Kan.; Henry Bridgeman, Duluth, Minn.; Joseph H. Rushton.
Omaha; Charles Harding, Omaha; Arthur S. Hanford, Sioux City, Ia.
Carl W. Kent, Kansas City, Mo.; Henry A. Page, Toledo, O.; Samuel;
Schlosser, Plymouth, Ind.; William A. Tilden, St. Paul; Samuel P. Wadley,
Dubuque, Ia., and W. T. Sherman White, Chicago.
Mr. Hoard, who is mentioned in the petition as Treasurer
of the Association, is said to have issued a denial that he is
a member of the organization.
The executive committee of the American Association
of Creamery Butter Manufacturers at a meeting in Omaha
on the 4th inst. is reported to have decided on plans to reduce the price of butter, to bring about better sanitary conditions of creameries, and to start a movement for the enactment of legislation against the makers of oleomargarine
for mixing butter with their products. The meeting was a
secret one, and nothing beyond this general outline of the
purposes of the committee has been disclosed.
As a sequence to the Government's action the Elgin Board
of Trade at its annual meeting on the 17th inst. abolished
the practice of fixing the price of butter by its quotation
committee, and adopted a plan to have the Board itself
determine the price in the future, based on actual sales. It
is stated that, despite the protests of the producers, the rules
of the Board were suspended by a vote of 162 to 101, and the
commission men, led by James P. Younger of Chicago, proceeded to amend them according to plans of reorganization.
Speaking of the action taken on the 17th, Mr. Younger said:
1721
This fight was begun seventeen years ago by myself and a few others
and we have kept it up ever since. I always have been opposed to having
the price fixed by the quotation committee. It should be determined by
the actual sales and the law of supply and demand. I think this action
meets the objections made by the Government in its suit for the dissolution
of the Board and will result in lowering the cost of butter to the consumer.
Joseph Newman,leader of the producers'faction, who protested against the proceedings, had the following to say concerning the results of the meeting:
The producers are talking of organizing a separate Board of their own
as a result of to-day's action. The change in the rules will not benefit
the public in any way, so far as I can see. It deals a blow to the producer
of butter and gives the fixing of prices to the commission men.
—It is held to be a violation of the anti-trust laws of Texas
for a national bank to organize a trust company, the stock
of which would be taken by the stockholders of the bank in
proportion to their bank holdings, and to continue to hold
the stocks of the two institutions jointly. First Assistant
Attorney-General Crawford of Texas thus decided on the
18th inst. A ruling was asked by B.L.Gill, Commissioner of
Insurance and Banking, the request for an opinion having
been made at the instance of Henry C. Coke, of the American
Exchange National Bank of Dallas.
—The trustees of the Union Trust Co. of this city have
voted the usual bonus to its employees, amounting to 10%
of their salaries. The Guaranty Trust Co., as stated last
week, also pays a similar percentage to its employees,and the
Bankers Trust Co. and the Fulton Trust Co. are among the
institutions which are giving a like bonus to their employees.
The Citizens' Central National Bank is paying the customary
5% to its employees, and other institutions like the Central
Trust Co., which is one of the most liberal givers, have
remembered their clerks with substantial Christmas gifts.
The banking firms, which seldomlmake known the amounts
distributed among their employees, have also shown the
customary liberality this year.
The Columbia-Knickerbocker Trust Co. has adopted a life
insurance plan in the interest of the families of those in its
service. Under arrangements made with the New York
Life Insurance Co., ordinary life policies of $1,000 each will
be issued (without a physical examination) to all the employees of the trust company who have been with it for at
least five months. The policies will remain in force as long
as the insured continues in the employ of the company.
The New York Trust Co. has also put into force for the
benefit of its employees a life-insurance system. As in the
case of the Columbia-Knickerbocker Trust Co., the policies,
which are for $1,000 each, are issued through the New York
Life.
—Court permission to pay a dividend of8% to the creditors
of the failed Washington Savings Bank of this city was received on the 26th inst. by George C. Van Tuyl Jr., State
Superintendent of Banks. A 50% dividend had previously
been paid. Joseph G. Robin was President of the bank,
which closed its doors in December 1910, at the time of the
suspension of the Northern Bank.
—At the annual stockholders' meeting of the International
Banking Corporation, 60 Wall Street, this city, on the 14th
inst., Frank P. Frazier, Minor C. Keith, Wm. Barclay Parsons and J. G. White were elected directors in place of J. S.
Fearon, H. C. Pierce and H. S. Manning,and to fill an existing vacancy. At the meeting of the board held on Thursday
of this week the directors elected Thomas H. Hubbard
Chairman of the board, H. T. S. Green, President and General Manager, John Hubbard, Treasurer and Secretary.
Mr. Green has been with the Corporation since 1906, serving
at several of its branches, and became General Manager
in 1910.
—The Colonial Bank of this City has declared an extra
dividend of 2% in addition to the regulat quarterly dividend
of 23/2%, both payable Jan.11913 to holders of record Dec.
21 1912.
—The plans were filed on Thursday for the proposed
structure which is to be erected on the site of the old Equitable Building on the block bounded by Broadway, Pine,
Cedar and Nassau streets. Some of the details of the new
building were announced in our issue of August 27. The
specifications and drawings, it is stated, indicate that the
building will be thirty-seven stories high and will rise to
a height of 485.9 feet above the curb level. It is to resemble
in form the letter H,having spacious courts on the Broadway
and Nassau Street sides. The street floor will be arranged
as quarters for banks on the four sides, while there are to
be stores in the arcade. The basement will comprise dining
rooms, cafes,etc., while safe-deposit vaults will be installed
in a sub basement. There are to be forty-four passenger
elevators, twenty running to the twenty-second floor and
1722
THE CHRONICLE
twenty-four to the top floor, sixteen being express elevators.
Private elevators will be provided for concerns occupying
several floors. It is announced that the Equitable Life
Assurance Society will occupy the fifth floor, and probably
three and a half floors in addition. The cost of the building,
estimated by the architects, F. M. Andrews & Co., is
$8,000,000. The sale of the property by the Equitable to
a corporation known as the Owning Company, organized
by Gen. T. Coleman du Pont, was effected in August, but
it is stated that the title has not yet actually passed to the
new owners.
—George F. Gentes has been elected Cashier of the Aetna
National Bank ot this city, succeeding E. V. Connelly, who
resigned to take the presidency of the new Commercial National Bank of Long Island City. Mr. Gentes, who entered
the employ of the Aetna in 1907, was made Assistant Cashier
'uring the past summer.
—An application to list the full authorized capital, amounting to ,000,000, of the Irving National Bank of this city
was aproved by the Governing Committee of the New York
Stock Exchange on Thursday. With the merger of the
Mercantile National Bank and the Irving National Exchange
Bank, six months ago, the latter increased its capital from
$2,000,000 to $4,000,000 and changed its name to the
Irving National Bank. The consolidated institution reported deposits on November 26 of $41,955,096, and total
resources of $50,812,773.
—R. J. F. Allen, chief Clerk of the Guaranty Trust
Company of this city, has been elected Assistant Trust
Officer of the institution.
—The officers and employes of the United States Mortgage
& Trust Company of this city have presented to President
John W. Platten an illuminated testimonial in the form of
a. "round robin." The company has found it necessary to
provide additional facilities on account of the expansion in
its business, and has leased an adjoining office at 47 Cedar
Street.
—Zenas E. Newell, who, on account of ill-health resigned
early in the year as Cashier of the East River National Bank
of this city, died on the 20th inst. at his home in Yonkers.
Mr. Newell had been connected with the institution for more
than fifty years and had been its Cashier for a period of
forty-five years. He was seventy-two years of age.
—The First National Bank of Albany, which for years
has paid 6% in annual dividends, increased its rate on the
17th inst. with the declaration of a quarterly dividend of
2%, payable Jan. 2. The bank has a capital of $600,000.
—The First National Bank of Utica is one of the limited
number of institutions whose existence dates back one hundred years. The one-hundredth anniversary of the institution occurred on Dec. 8. In celebration of the event, President Charles B. Rogers gave a dinner to the directors at his
home on the evening of the 6th at which a review of the
bank's history was read. The incident will further be remembered as the occasion for the declaration of an extra
dividend of 10% on the $1,000,000 capital and the payment
of a bonus to the thirty employees, scaled from six months'
salary down, depending on the length of service. The Bank
of Utica, the predecessor of the present institution, was
chartered on June 1 1812, and began business on Dec. 8 of
that year. At that time Utica was a village of 2,000 inhabitants, and there were in the State only half a dozen banks.
When the Bank of Utica was ready to begin business, it took
over the local branch of the Bank of the Manhattan Company—the latter's directors, officers and clerks all going
with the new organization. The capital of the new bank was
fixed at $1,000,000; of this, 8,000 shares (par $100) were offered to the public and 2,000 were reserved for the State,
which never exercised its privilege to take them. Of the
bank's thirteen directors, eleven were named by the stockholders and two by the State. In those days, the Utica
"Press" states, it was customary not to pay stock in full,
but for the shareholders to pay in as necessity required up
to a certain amount, with the full understanding that they
were legally liable to the full amount if exigency arose. In
the case of the Bank of Utica, about a dozen payments were
made, aggregating in all $60, and that is how it happens that
the par value of the shares of the bank to-day is $60 instead
of the customary $100. The first dividend paid by the bank
was on a 9% basis and was declared in June 1813. Dividends have been distributed every year since except in 183739 and 1853-55 and altogether there has been paid out in
dividends $5,615,698. The Bank of Utica was changed to
he First National Bank of Utica in 1865, the national in-
Lxxxxv.
stitution starting with $600,000 capital, which was laterincreased to the present figure of $1,000,000. About a
dozen years before this change, however, in 1853, the institution had entered upon a new era with the election as Cashier of P. V. Rogers. Mr. Rogers entered the management at
a time when the bank had no surplus and its capital had suffered an impairment of $100,000. Acknowledgment of the
part played by him in placing the institution on a sound
basis was made in the minutes of the directors in 1863, and
in recognition of his services he was directed to credit himself with $1,000 and charge the same to profit and loss.
Mr. Rogers was made President of the bank with its conversion to the national system in 1865 and remained in that
capacity until his death in1895. The office has since been
filled by his son, Charles B. Rogers, who has held to the
policies and standards established by his father. In the long
list of directors who have served the bank during the century
of its existence, one finds other instances of identity of ownership. Thus, while George S. Dana is now on the board, the
name of his grandfather, James Dana, appears in the record
for 1845. As an indication of the development of the institution, the surplus to-day stands at $1,000,000, besides
which there are undivided profits of over $500,000. H. R.
Williams is Vice-President and Cashier of the institution,
and there are two other Vice-Presidents, G. H.P. Gould and
Frank A. Bosworth.
—The Hartford Trust Company of Hartford, Conn.,
which changed its dividend payments from semi-annual to
quarterly in April, when 3% was paid, has declared, in addition to the quarterly distribution of 3%,an extra dividend
of 2%,both payable Jan.2 to stockholders of record Dee. 20.
The institution has a capital of $300,000.
—Henry L. Wilcox, Cashier of the National Bank of Commerce of Providence, was elected a director of the institution on the 16th inst.
—The National Shawmut Bank of Boston which a year
ago inaugurated a pension plan applicable to all employes
under the grade of cashier, has made arrangements to insure
for the year 1913, all its male clerks who have been in its
emplOy for a given period. The amount represented in
the policy is equal in each case to the yearly salary of the
insured. The International Trust Company of Boston,
it is reported, has adopted a similar plan. The "Boston
Transcript" in announcing these departures, says:
Until recently life insurance companies doing business in this country
have not been allowed to insure men in groups. A short time ago, however,
under a ruling from the Insurance Commissioner of Massachusetts obtained
by the Equitable Life Assurance Society, it became possible to do this;
so that, if a few men in a group fell below the test, while the great majority
brought the average up, the company is allowed to insure the group.
—F. A. Goodhue has resigned as President of the Brookline Trust Co. of Brookline, Mass., and has entered the service of the First National Bank of Boston. Mr. Goodhue
will leave Boston on Jan. 4 fora six-months' tour to important South American cities, in which he will, as the bank's
representative, undertake to establish more direct connections between the principal cities of that country and the
First National Bank. Mr. Goodhue's trip, it is stated, is
designed not only for the purpose of making arrangements
for the more direct and expeditious handling of present
business, but also to secure information which might be desirable in case, by future legislation, it would be permissible
for banks in the United States to establish agencies in foreign
countries. Before becoming President of the Brookline
Trust Co. a year ago, Mr. Goodhue had been affiliated with
the First National Bank, and he traveled through Europe
in its interest, introducing travelers' checks and letters of
credit. Ernest B. Dane has succeeded Mr. Goodhue as
President of the Brookline Trust Co. and Albert J. Meserve
Jr. has been elected Vice-President of the institution.
—At the annual meeting of the stockholders of the Girard
Trust Co. of Philadelphia on the 16th inst. the following
managers, whose terms of office then expired, were re-elected
for four years: William H. Gaw, Francis I. Gowen, George
H. McFadden, Henry Tatnall and Isaac H. Clothier. The
company reports net profits for the fiscal year ending
November 30 of $1,110,612, of which $900,000 was applied
in dividends and $210,612 has been carried forward to undivided profits, which account stands at $2,577,129, exclusive
of the value of the banking house, vaults, &c., the cost of
which was paid for out of the earnings of past years and
charged off.
—I. J. Dohan, President of the Beneficial Savings Fund
Society, has been elected a director of the Market Street
National Bank of Philadelphia.
DEO. 28 1912 J
THE CHRONICLE
1723
—John E.G'ossling, Cashier of the Second National Bank has resources approximating $15,000,000. Mr. Ross was
of Philadelphia, has been elected a director of the institution, associated with the New York News Bureau Association in
succeeding the late David C. Nimlet.
Pittsburgh before going to Cleveland, and was financial
—Anthony Wayne Hecker, who resigned as Cashier of the editor of the Cleveland "Leader," later becoming treasurer
Germantown Avenue Bank of Philadelphia on Sept. 1, of the Cuyahoga Telephone Co.
—The Peninsular State Bank of Detroit plans to increase
was arrested on the 10th inst. charged with misappropriation of funds in that he permitted a depositor to overdraw its capital from $800,000 to $1,000,000, arrangements to this
his account last April to the extent of $8,400. At a hearing end having been perfected at a meeting of the directors on
in the case on the 11th inst., the ex-Cashier was held in bail Monday. The selling price of the new stock has been fixed
at $200 per $100 share, and the premium of $200,000 thereby
of $5,000.
yielded will serve to increase the surplus to $500,000. With
—Under action taken by directors of the Dollar Savings
Fund & Trust Co. of Pittsburgh on the 12th inst., that in- the present quarterly dividend declaration of 23/2% the bank
stitution will take over control of the Second National Bank lire; raised its yearly rate from 8% to 10%. Early last
of Allegheny. The latter has a capital of $300,000, and its year, when the capital of the institution was increased from
$500,000 to $800,000, $100,000 was distributed in the nature
stock, it is stated, is being bought in at $380 per share.
of a stock dividend of 20% and the other 2000,
shares were
The two banks, it is understood, will continue to be operated
offered to the existing stockholders at $160 per share.
separately and distinctly. J. N. Davidson, President of the
—A stock dividend of 200% has been declared by tie
Second National, is Vice-President of the Dollar Savings
company, which is located at 527 Central Savings Bank of Detroit in furtherance of plans
Fund & Trust Co. The
(approved by the stockholders on the 17th inst.) to increase
Federal Street, has a capital of $1,000,000. It has recently
capital from $100,000 to $500,000. The dividend, calling
purchased the building of the Second National Bank (which the
for an appropriation of $200,000, will be provided for out
is opposite its own building) and also a lot adjoining the
of the undivided profits. The other $200,000 Will be realized
property of the Second.
from the sale of 2,000 additional shares of stock, which, it
—The customary Christmas dividend of $6 a share has stated,is already covered by subscriptions of the stockholder.
been declared to the stockholders of the Union Trust Com- The employees of the bank have been given an opportunity
pany of Pittsburgh, the capital of which is $1,5n000.
to purchase from one to ten shares of this issue at $150 per
• —A special divident of 1%, in addition to the usual share.
quarterly divident of 2%, has been declared by the directors
—Henry M. Campbell of the law firm of Campbell,
et the Commonwealth Trust Company of Pittsburgh, Bulkley & Ledyard and Francis C. McMath,of the Canadian
payable to stockholders of record December 23. The Bridge Co., Ltd., have been elected directors of the Union
institution capital of $1,500,000.
Trust Co. of Detroit to fill vacancies.
—William R. Kales of the Whitehead & Ka/es Iron Works
—The Central Trust Company of Pittsburgh has declared
a quarterly divident of 1%%,payable January 2,thus placing has been elected a director of the Detroit Trust Co., Detroit,
its stock on a 6% basis as against 5% heretofore. The capi- to succeed the late Ammi W. Wright.
tal is $150,000.
—Governor-elect George H. Hodges of Kansas has named
—The fifteen-year sentence imposed in Jantrau 1939 on Charles N.Sawyer of Norton as State Bank Commissioner,
to succeed J. N. Dolley, whose term of office expires on
J. B. F. Rinehart, former Cashier of the failed Farmers
Drovers' National Bank of Waynesburg, Pa., was commuted March 1. Mr. Sawyer's appointment is said to have been
by President Taft on the 16th inst. The President's action, opposed by the State bankers, both because he is a national
it is stated, is based on his belief that the sentence was ex- banker and because he views unfavorably the bank-depositcessive, and the fact that the prisoner is in poor health was guarantee law.
also taken into consideration. The commutation becomes
—A dividend of 5% has been declared to the depositors
effective on Jan. 15 1913. The bank failed in December of the Metropolitan Bank & Trust Co. of Cincinnati. With
1906. Rinehart was charged with the making of false re- the two previous dividends, the first amounting to 40% and
ports and the misapplication of funds of the institution.
the second 10%, the total aggregates 55%. The institution
—Frank A. Munsey of Now York, the publisher, is to be closed its doors September 18 1911.
—John W.Woods, Mayor of the City of Roanoke, and
Chairman of the Board of Directors of a trust Company
which is being organized in Baltimore under the name of the President of the City National Bank of Roanoke and the
Munsey Trust Co., with a capital of $1,000,000. The First National Bank of Rocky Mount, died on the 23rd inst.
institution is to occupy the first floor of the Munsey Building He was fifty-four years of age.
at Calvert and Fayette streets, and is slated to begin business
—The Union Bank & Trust Co. of Phoenix, Ariz., has inon January 15. The stock was offered at par and subscrip- creased its capital to $1,000,000 and has extended its operations were received at the office of Middendorf, Williams & tions by the establishment of several new departments—
Co., the books being opened and closed on Saturday, the a bond and mortgage loan department, a corporation, a
21st. E. L. Norton, President of the Finance & Trust Co. surety department, an insurance department, &c. New inof Baltimore, is to be President of the new company, the terests have become affiliated with the institution, among
directors of which will include (besides Messrs. Munsey and whom is J. K. Tennant of Los Angeles, who enters the manNorton,) Stuart Olivier, George R. Gaither, R. Lancaster agement as Vice-President and General Manager. F. J-.
Williams, Jacob France, T. Rowland Thomas, A. R. L. Coleman has become Secretary and Treasurer. J. 1'.
Dobme, II. F. Messerve, John L. Alcock and Elmore B. .Cleaveland continues as President.
Jeffrey.
—With a view to changing the Broadway National Bank
—W. P. Stamm, Assistant Cashier of the First National of St. Louis from a national to a State institution,articles of
Bank of Cincinnati, was elected President of the Columbia incorporation have been filed for the Broadway Bank of St.
Bank & Savings Co. of Cincinnati on the 17th inst. Mr. Louis. The present institution has a capital of $200,000;
Stamm will assume his new office on January 1. As President the new organization is to have a capital of $100,000 and a
of the Columbia he will succeed Charles Nickels, who with- surplus of $25,000.
draws from active business because of advancing years.
—J. W. Griffin, President, and R. H.McCrary,Cashier, of
—In increasing its capital from $600,000 to $750,000, the the AthensTrust &Banking Co. of Athens, Ga., which was
Drovers' Deposit National Bank of Chicago will declare a closed early in the year, pleaded guilty on the 13th to charges
Stock dividend of 25%—or $150,000. A stock dividend of of violating the State banking laws and were each sentenced
25% is also to be distributed by the Drovers' Trust & Savings to a five-year term of imprisonment. In pleading guilty the
Bank, the capital of which is to be increased from $200,000 defendants had expected that a fine would be imposed. After
to $250,000. The dividends have been declared payable in the announcement of the sentence a motion was made to
but the stockholders are accorded the right to sub- allow them to withdraw their pleas, but this was overruled.
scribe for the forthcoming issues at par. The plans are to The case will be carried to the Court of Appeals.
be submitted for the approval of the stockholders at the
—The directors of the Los Angeles Hibernian Savings Bank
annual meeting in January.
of Los Angeles, Cal., took nction on the 11th inst. toward in—William L. Ross has resigned as office manager of the creasing the capital from 4-.. 1,000 to $375,000. The instiTillottson & Wolcott Co., investment bankers of Cleveland, tution, which has deposits or over $1,000,000, pays 5%
to open and manage the bond department of the Second Ward interest on sums from $1 to $5,000. According to the Los
Savings Bank of Milwaukee. Mr. Ross will be elected a Angeles "Examiner" the bank is the only one in that city
member of the board of directors of that institution, which which has its quilrter.4 on the second floor. These offices
.
THE CHRONICLE
were taken a year ago, the directors figuring that the difference in rent between second-floor and ground-floor premises
would permit the payment of I% beyond the customary rate
on:a large volume of deposits.
—The Globe Savings Bank of Los Angeles, Cal., has decided to increase its paid-in capital from $300,000 to $500,000;
the additional stock is offered to the present stockholders at
$160 per $100 share. Authority to increase the capital from
$200,000 to $500,000 was granted under action taken by the
stockholders in November 1911, but only $100,000 of the
amount authorized has been issued up to the present time.
—The Seattle National Bank, of Seattle, Wash. is sending
to its friends and patrons engraved cards carrying Christmas
and New Year's greetings.
—The directors of the Quebec Bank (head office Montreal)
have recommended the issuance of $500,000 of new, capital,
which will serve to increase the paid-in amount from $2,500,000 to $3,000,000. The authorized capital is $5,000,000.
The new issue will be offered to the stockholders at $125 per
$100 share. In the annual statement for the year ending
October 31 1912 the bank reported net profits for the twelve
months of $294,804 as against $276,392 the previous year.
The deposits have increased from $13,910,751 to $15,531,030,
while the assets have risen from $20,498,584 to $22,215,226.
The bank has a Rest Fund of $1,250,000.
—Over $50,000,000 has been added to the deposits of the
Canadian Bank of Commerce (head office Toronto) during
the year ended November 30. In the latest annual statement this item reaches $197,617,462, and compares with
$145,965,735 on November 30 1911. Only about 19M
millions of the large increase witnessed came to the bank
through the absorption of the Eastern Townships Bank (head
office Sherbrooke), which took place during the year. The
net profits of the late twelve months were $2,811,806, equivalent to 183 % on the paid-up capital of $15,000,000, or
4
over 19% on the average paid-in capital for the year of $14-,
210,437. The assets of the bank now aggregate $246,571,290
as against $182,389,984 on November 30 of last year and
$157,053,015 on November 30 1910. The rest account
stands at $12,500,000 and the bank carries forward to profit
and loss account a balance of $28,271,579. The annual
meeting of the stockholders will be held on January 14.
—At the annual meeting on the 18th inst. of the stockholders of the Merchants' Bank of Canada (head office
Montreal) it was unanimously voted to change the date of
the annual meeting from the third Wednesday in December
to the third Wednesday in May. With this change the fiscal
year will end on April 30 instead of November 30. A change
was also adopted in the by-laws whereby a directorate of
twelve members is provided for instead of the previous limit
of nine. In accordance with this amendment Farquhar
Robertson, George L. Cains and Alfred B. Evans have been
added to the board. For the year just closed (November 30
1912) thebank reports net profits of $1,338,845, as compared
with $1,179,581 for the previous period. After making the
usual appropriations there is carried forward to the new
account $148,718. The amount transferred to the Reserve
Fund from the profit and loss account was $450,000, in
addition to which $560,760, representing the premium on
new stock, was added to the Fund, bringing it up to $6,410,760, or a fraction over 95% of the paid-up capital, which
under date of November 30 1912 is reported as $6,747,680.
The deposits total $62,446,479 while the assets reach $84,116,908, and contrast with $81,928,961 on November 30
1911. E. F. Hebden is General Manager of the bank.
WonetanfETrinuncrciatErtglask4exus
[From our own correspondent.]
London, Saturday, Dec. 14 1912.
Trade in this country continues to expand in a wonderful
manner, as the Board of Trade returns issued last Saturday
show. But abroad the stringency is exceedingly great.
Throughout Austria-Hungary the papers report runs upon
the savings banks, and several even upon the joint-stock
banks, while private persons connected with the East of
Europe assert that the runs are much more generaland much
more serious than the newspapers are allowed to publish.
.
In Berlin, money is so tight and scarce that the banks are
borrowing for a month at 7%, while the return of notes from
circulation, which was expected to be large in the first fortnight of December, is disappoingingly small. On the last
day of November the note circulation rose to over 100 millions sterling. If that happened at the end of an ordinary
month, what will happen, it is asked, on the last day of_the
[VoL. Lxxxxv.
year? Preparations, therefore, are being made for an exceedingly tight squeeze. But there is little fear that Berlin
will not succeed in tiding over the difficulty safely. The real
apprehension is as to Vienna and Buda-Pesth. Speculation
there is as rampant as ever. Money is scarcer even than in
Germany, and the two governments have to turn to New
York to find a market for their loans.
The India Council offered for tender on Wednesday 100
lacs of its bills and telegraphic transfers, and the applications amounted to nearly 9353 lacs, at prices ranging from
4
is. 4 1-16d. to Is. 43gd. per rupee. Applicants for bills at
is. 4 3-32d. and for telegraphic transfers at is. 43/8d. per rupee were allotted 13% of the amonuts applied for.
Messrs. Pixley & Abell write as follows under date of
Dec. 12:
GOLD.—A total of £823,000 has come to hand this week, of which £758,000 was
out of the Cape steamer. After setting aside £105,000 for India, the greater part
has been taken by Germany and the Bank will receive the balance. Since our last
the Bank has received £43,000 in bar gold, £40,000 from Ecuador in sovereigns
and £54,000 from India. £300,000 has been withdrawn for France, probably uitimately for Egypt, £347,000 for India and £75,000 in German gold coin for Argentina. Next week £685,000 is expected from South Africa and £71,000 from India.
For the week: Arrivals—South Africa, £758,000; West Africa, £43,000; West Indies,
£22,000; total, £823,000. Shipments—Bombay, £113,250. For the month of
November: Arrivals—Germany, £9,000; France, £4,000; West Africa, £106,000;
Egypt, £2,000; Brazil, £36,000; India, £2,062,000. Shipments—Germany, £165,000; France, £87,000; Egypt, £1,350,000; Brazil, £1,138,000; India. £608,000.
SILVER.—The market was very steady during the earlier part of the week and
quotations advanced to 29 11-16d. for spot and 29%d. for forward, but the tone has
been rather easier the last two days,and prices have sagged to 29 9-16d. and 29 7-16d.,
respectively. At the close the market Is steady. Rather over £400,000 has been
shipped to China and India by this week's outgoing mall, and stocks are now reduced to about £1,200,000. The demand for rupees in India still continues. The
last currency report, received on the 10th inst., gave the following holdings of rupees as compared with last week:
Dec. 10. .
Dec. 3.
13.25 crores
Ordinary reserve
13.75 crores
2.00 " '
2.25 "
Under coinage
5.00 "
Gold standard reserve
4.75 "
20.25
1.10
In transit
"
"
20.75
nil.
21.35 crores
20.75 crores
The Bombay quotation is Rs. 743 per 100 tolahs for the January settlement.
For the week: Arrivals—New York, £102,000; West Indies, £13,000; total, £115,000.
Shipments—Bombay, £1,010,000; Bombay, £80,000 (Mex. 5); Calcutta, £30,000;
Calcutta, £120,000 (Mex. 5); total, £1,240,000. For the month of November:
Arrivals—Germany, £24,000; France, £21,000; South America, £14,000. Ship--Russia, £27,000; Germany, £30,000; France, £56,000; South America,
ments
£123,000.
English Financial Markets—Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London,
Fri.
Sat.
Mon.
Tues.
Wed. Thurs.
Week ending Dec. 27.
d. 29
28%
Silver, per oz
28 15-16
28%
d Consols, 2% per cents__ 75%
74 15-16 75
75 1-16
d For account
74 1-16 75 1-16
75%
75%
d French Rentes (in Paris)-fr. 89.22% 89.07% 89.30
89.2734
Amalgamated Copper Co.__ 79%
78
77%
7934
74
75
74%
Am. Smelt. & Refining Co.... 75%
83/
8%
8%
b Anaconda Mining Co
834
109
i, 109% 108%
Atch. Topeka & Santa Fe_ 109 y
105
105
105%
105%
Preferred
108
107%
107%
108%
Baltimore & Ohio
89%
89%
89%
89%
Preferred
268
267%
269%
Canadian Pacific
268%
82
81%
81%
81%
Chesapeake & Ohio
17%
17
17
17
Chicago Great Western
117
1153(
Chicago Mllw.& St. Paul
116
11534
21%
21
Denver & Rio Grande
21
21%
40%
40%
Preferred
39%
3934
33
32%
Erie
32%
3334
First preferred
51
50%
50%
50%
Second preferred
40%
40%
40%
140
:
45
.
1
Great Northern, preferred 13634
134%
136%
13634
131
Illinois Central
131
130
130%
>.,
145
144%
145%
Louisville & Nashville
2734
27%
Missouri Kansas & Texas_ _ _ 28%
2734
A
62
62
62
62%
Preferred
:---14
43%
43
42%
42
Missouri Pacific
0
66
66
66
Nat. RR.of Mex., 1st pref.... 66
MI
28%
28%
28%
28%
Second preferred
112%
113
113
N.Y.Central & Hudson Riv.113
32%
33
32%
33
N. Y. Ontario & Western..
116
116
116
116
Norfolk & Western
8989
Preferred
89
124%
1i5K
124
Northern Pacific
126
62%
62%
a Pennsylvania
63
62%
8631
a Reading Company
86
87%
8634
a First preferred
46%
46%
40%
4014
48
48%
_—
a Second preferred
48%
24%
24
24%
25%
Rock Island
109
108
110%
Southern Pacific
10734
28%
28%
28%
29%
Southern Railway
82%
82%
82%
83
Preferred
165%
165%
Union Pacific
16334
16434
94
95
9534
9534
Preferred
70%
71%
70%
6934
U.S.Steel Corporation
112%
113
113
Preferred
113%
4%
Wabash
434
434
434
1334
Preferred
14
13%
1334
66
66%
Extended 4s
67
07
EA
1724
a Price per share. b
flat prices.
sterling. c Ex-dividend. d Quotations hero given are
(5,fainuterciat aulttniscella:aeonsnews
STOCK OF MONEY IN THE COUNTRY.—Thefollowing table shows the general stock of money in the country as
well as the holdings by the Treasury, and the amount in circulation, on the dates given. The statement for Dec. 2 1911
will be found in our issue of Dec. 9 1911, page 1579.
Stock of Money Dec. 1 '12.
Held in
In Untied
Treasury.d
States.
AI
$
Gold coin and button ____*1,867,348,261 177,795,980
126,588,360
Gold certificates b
Standard silver Dollars.... 565,405,020
1,696,226
9,542,337
Silver certificates b
Subsidiary sliver
al73,340,756 19,300,084
8,440
Treasury notes of 1890
2,813,000
United States notes
346,681,016
5,824.179
National bank notes
750,185,776 27,800,403
Total
—Money in Circulaion—
Dec. 1
Dec. 2,
1911.
1912.
$
621,206,112 616,777,641
941,751,809 895,640,748
74,190,794
74,242,944
480,035,663 483,451,973
154,040,672 146,589,955
2,804,560
3,102,770
340,850,837 340,812,984
722,385,373 709,963,738
3,705,833,829 368,556,009 3,337,277,820 3,270 582,753
Population of Continental United States December 2 1912, estimated at 96,355,000; circulation per capita, $36 44.
* A revised estimate by the Director of the Mint of the stock of gold coin was
adopted in the statement for August 1 1907. There was a reduction of $135,000,000.
a-,A revised estimate by the Director of the Mint of the stock of subsidiary silver
coinTwas adopted in the statement of Sept. 1 1910. There was a reduction of
$9,700,000.
b For redemption of outstanding certificates an exact equivalent in amount of
the
the appropriate kinds of money is held in the Treasury, and is not included in
account of money held as assets of the Government.
This statement of money held in the Treasury as assets of the Government does
d
not:include deposits of public money in national bank depositaries to the credit of
the _Treasurer of the United States, amounting to $33,527,157.
-CHANGES IN TOTALS OF, AND IN
BANK NOTES
-We give below tables which
DEPOSITED BONDS, &e.
show all the monthly changes in bank notes and in bonds
and legal tenders on deposit. The statement for Nov. 1911
will be found in our issue for Dec. 9 1911, page 1576.
Circulation Afloat Under
-
Bonds and Legal Tenders
on Deposit for
1911-1912.
Bonds.
$
731,366,680
730,257,280
728,984,230
727,317,530
725,505,460
724,493,740
724,265,600
723,035,910
721,315,126
722,026,520
719,811,320
717,578,120
Nov. 30 1912
Oct. 31 1912
Sept. 30 1912
Aug. 31 1912
July 31 1912
June 30 1912
May 31 1912
April 30 1012
Mch. 31 1912
Feb. 29 1912
Jan. 31 1912
Dec. 31 1911
1725
THE CHRONICLE
DEC. 23 1912.]
Legal
Tenders.
Legal
Tenders.
Bonds.
21,670,491 728,515,285
22,179,543 727,169,316
22,384,311 725,395,343
22,595,751 723,005,556
23,282,793 721,623,148
24,710,882 720,424,110
25,631,642 719,861,030
27,115,655 718,601,693
27,869,700 717,001,493
25,724,070 718,548.203
26,167,972 715,493,996
26,240,119 714,363,068
Total.
21,670,491 750,185,776
22,179,543 749,348,859
22,384,311 747,779,654
22,595,751 746,501,307
23,282,793 744,905.941
24,710,882 745,134,992
25,631,642 745,492,672
27,115,655 745,720,348
27,869,790 744,871,283
25,724,070 744,272,273
26,167,972 741,661,968
26,240,119 740,603,187
s
mi
GOVERNMENT REVENUE A r TD EXPENDITURES.
Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
Government receipts and disbursements for the month of
November. From previous returns we obtain the figures for
previous months, and in that manner complete the statementsfor the 11 months of the calendar years 1912 and 1911.
GOVERNMENT RECEIPTS AND DISBURSEMENTS.
1912.
1911.
(000: omitted).
I Sept.
Oct.
Nov. 11Mos. I Sept.
Oct.
Nov. 11 Mos.
$
$ 1 3
1 $
$
$
Receipts
$
$
Customs
27,475 30,217 25,666 302,091 24,746 25,757 24,704 276,575
Internal IOrdinary _ _ 24,422 29,529 28,922 275,672 26,148 25,536 26,648 263,845
61
47 28,604
190 28,9411 207
Revenue t Corp. tax.._ • 121
173
Miscellaneous
3,664 4,550 4,291 54,379, 5,234 4,700 5,189 66,054
1
•
Total receipts
56,335 64,469 59,069 661,08356,335 56,054 56,588 635,078
i
Disbursements
Civil and miscellaneous 15,574 16,462 14,590 165,913113,789 17,250 14,286 169,333
War
18,880 17,457 8,765 143,772.13,566 14,505 13,591 153,054
11,557 10,345 11,681 121,444 11,341 11,682 10,530 115,856
Navy
1,654 2,729 1,814 19,0131 882 1,900 2,694 20,611
Indians _ _
12,858 11,935 16,131 143,757'12,340 11,280 14,807 144,328
Pensions
Postal deficiency
3,267 2,0NAll -57i
'7
1 1470
Interest on public debt_ I
I 1,820 4,759 3,085 34,287( 2,318 2,990 3,375 32,095
Panama Canal
, 1,92,37
'2112
Total disbursements_ 62,813 66,954 58,146 653,524 54,582 64,873 61,289 659,826
Less repayment of un820 2,515! 1,458 1,696 - 865
690
expended balances__ 2,547 1,589
I
60,266 64,765 57,326 651,009.53,124 63,177 60,424 659,136
Total
-The following information regarding
National Banks.
national banks is from the office of the Comptroller of the
.
shows the amount of each class of bonds Currency, Treasury Department:
The following
held against national bank circulation and to secure public
APPLICATION TO CONVERT APPROVED.
moneys in national bank depositaries on Nov. 30.
The Deposit Bank of Vanceburg, Ky., into "The First National Bank
of Vanceburg."
U. S. Bonds Held Nov. 30 to SecureBonds on Deposit
Nov. 30 1012.
l'ublicDeposits
13ank
in Banks.
Circulation.
27,183,000
20,633,720
602,040,000
52,684,280
28,825,680
4%, U. S. Loan of 1925
3%, U.S. Loan of 1908-1918
2%, U.S. Consols of 1930
2%, U. S. Panama of 1936
2%, U.S. Panama of 1938
3%, U. S. Panama of 1961
4%,Philippine I.oans -4%,Porto Rico Loans
3.65%, District of Columbia
Various, Territory of Hawaii
4%, Philippine Railway
Various State, City and Railroad
731,366,680
Total
3,816,000
3,616,300
12,466,700
1,468,500
657,000
16,998,000
4,459,000
688,000
813,000
715,000
146,000
1,103,000
Total
Held.
30,999,000
24,250,020
614,506,700
54,152,780
29,482,680
16,998,000
4,459,000
688,000
813,000
715,000
146,000
1,103,000
Capital, $25,000.
CHARTERS ISSUED TO NATIONAL BANKS DEC. 13 TO DEC. 18.
-The First National Bank of Mount Calm, Tex. Capital, $50,000.
10,297
W. T. McGrew, Pres.; J. A. Rush Jr., Cashier. Succeeds J. B.
McDaniel Bank of Mount Calm.
-The Keota National Bank, Keota, Okla. Capital, $25,000.
10,298
J. W. Robinson, Pres.; J. C. Terrell, cashier.
-The First National Bank of Yuba City, Cal. Capital, $50,000.
10,299
0. R. Boyd, Pres.; Geo. T. Boyd, Cashier. Conversion of the
Sutter County Bank.
VOLUNTARY LIQUIDATION.
-The Coon Rapids National Bank, Coon Rapids, Ia., Dec. 3 1912.
6,080
Liquidating agent, C. P. McDonald, Coon Rapids, Ia.
EXPIRATION OF CORPORATE EXISTENCE.
-The Kewanee National Bank, Kewanee, Ill., expired by limitation
4,854
at close of business on Dec. 12 1912. Succeeded by the Kewanee
State Savings Bank & Trust Co.
46,946,500 I 778,313,180
DIVIDENDS.
The following shows the amount of national bank notes
The following shows all the dividends announced for the
afloat and the amount of legal-tender deposits Nov. 1 and future by large or important corporations:
Dec. 1, and their increase or decrease during the month of
Dividends announced this week are printed in italics.
November:
National Bank Notes-Total Afloat
Amount afloat November 11012
Net amount issued during November
8749,348,859
836,917
$750,185,776
Amount of bank notes afloat December 1 1912
Legal-Tender Notes
Amount on deposit to redeem national bank notes November 1 1912.... $22,179,543
509,052
Net amount of bank notes retired in November
Amount on deposit to redeem national bank notes Dec. 1 1912
$21,670,491
FOREIGN TRADE OF NEW YORK-MONTHLY
-In addition to the other tables given in
STATEMENT.
this department, made up from weekly returns, we give the
following figures for the full months, also issued by our
New • York Custom House.
Merchandise Movement to New York.
Month.
I
1912.
January_ _ 87,174,822
February.. 80,426,110
March _ _ _ 94,289,890
April ____ 95,298,037
May _ _ 88,860,861
June __ -- 74,937,441
85,764,897
July
August__ _ 86,569,092
September 84,440,226
October _ _ 109,821,079
November 85,710,079
Customs Receipts
at New York.
Exports.
Imports.
1911.
1912.
1911.
61,365,707
61,749,886
71,039,369
73,279,672
66,054,021
65,127,728
58,702,124
62,055,957
70,231,541
65,514,865
67,743,513
17,425;585
17,291,791
18,961,616
16,539,318
16,332,160
15,257,299
18,180,492
18,322,736
17,936,175
19,983,599
15,430,392
16,808,957
16,334,953
19,487,785
14,903,015
10,013,192
14,917,580
16,481,668
18,023,013
15,834,097
16,968,975
15,870,055
1912.
1911.
74,513,315 66,475,205
66,677,912 69,345,534
84,752,8901 72,192,950
71,065,446! 70,515,688
73,970,513 77,217,457
69,527,171 61,039,548
69,247,136 66,670,27
74,673,583 72,500,822
73,303,594 73,336,565
77,295,842 76,908,55
76,482,105 82,931,311
Total _ 973,292,534 811,509,507789,133,900722,765,384 191,661,163 181,643,289
The 1mports and exports of gold and silver for the eleven
months have been as follows:
I
Gold Movement at New York.
Month.
Imports.
1912.
January__
February..
March --April _ _
May _ _ _
June _ _
_
July
August _ _ _
September
October _
November
1,894,791
1,441,106
2,464,940
1,665,013
1,802,253
3,024,221
1,838,482
2,376,892
1,481,485
8,799,437
1,491,578
1911.
Exports.
I
1,325,148
632,423
1,158,724
470,074
2,850,931
2,319,280
519,068
1,873,940
1,661,591
2,045,191
1,547,824
1912.
I
Silver-New York.
I Imports.
1911.
I
$
871,445
1,751,5731
351,125
10,507,393,
436,292
7,332,800:
591,794
1,616,9311
295,600
376,740
49,777
6,025,618
269,508
858,180
38,800
84,400
179,027
404,852
186,996 2,816,299
192,275 2,305,278
1912.
$
1,458,551
1,232,607
678,155
1,577,763
1,116,472
799,683
585,335
893,282
613,718
1,383,460
1,538,197
Exports.
1912.
$
4,817,026
4,513,845
4,583,186
4,053,408
5,291,820
4,320,367
5,687,472
606,930
5,410,412
4,909,601
4,546,630
Total .._ 28,280,198 16,404,191 29,292,1581 8,350,545 11,877,123 49,340,697
Name of Company.
When
Per
Cent. Payable.
Books Closed.
Days Inclusive.
Railroads (Steam)..
Feb. 24 Holders of rec. Feb. 10
Alabama Great Southern, preferred
434 Jan. 2 Dec. 15 to Jan. 1
Albany & Susquehanna, guaranteed
(m) Holders of rec. Jan. 2a
$3.45
Albany & Susquehanna (special)
Jan. 2 Holders of rec. Dec.20a
3
Allegheny & Western, guaranteed
pref (No.29) 2% Feb. 1 Holders of rec. Dec.31a
Atchison,Topeka & Santa Fe,
3% Jan. 10 Dec. 20 to Jan. 10
Atlantic Coast Line RR.. common
Jan. 2 Holders of rec. Dec.23a
1
Beech Creek, guaranteed (guar.)
2% Dee. 31 Holders of rec. Nov.30a
Boston & Albany (guar.)
Jan. 2 Nov. 25 to Nov.30
4
Bbston & Lowell
1
Jan. 1 Holders of tee. Nov.304
Boston & Maine, common (quar.)
1% Jan. 1 Holders of rec. Dec.144
Boston Revere Beach & Lynn (guar.)
1% Jan. 5 Jan. 1 to Jan. 5
Brazil Ry., preferred (guar.)
1% Feb. 1 Holders of rec. Dec.27a
Canada Southern
234 Jan. 2 Holders of rec. Dec. 2e
Canadian Pacific, common (guar.)
2% Dec. 31 Holders of rec. Dec. 24 TO
Carthage Watertown & Sockets Hatbor
3
Central of Georgia, preferred
Feb. 1 Holders of rec. Jan.23a
2
Central RR.of New Jersey (guar.)
1% Dec. 31 Holders of roe Dec. 6a
Chesapeake & Ohio (guar.)
Chicago & Eastern Illinois, pref. (guar.).
-134 Jan. 2 Holders of rec. Dec.17a
1% Dec. 30 Holders of rec. Doe. 19
Chicago Ind. & Louisville, common
Dec. 30 Holders of rec. De0.19a
2
Preferred
Chicago & Northwestern, corn. (quar.)- 134 Jan. 2 Holders of rec. Dee, 24
Preferred (guar.)
Jan. 2 Holders of rec. Dee. 2s
Chicago Rock Island & Pacific Ry.(guar.) 154 Dec. 31 Holders of tee Dec.20a
Clev. Ctn. Chic. & St. L., pref. (guar.).
1% Jan. 20 Holders of tee. Dec.274
Colorado & Southern, common (annual)
Dec. 31 Dec. 21 to Jan. 1
1
Connecting Ry. (Philadelphia). - 2
Dec. 30 Holders of rec. Dec.20a
Cuba RR., preferred
3
Feb. 1 Holders of rec. Dec.31a
Delaware Lackawanna & Western (quar.)
234 Jan. 20 Jan. 5 to Jan. 9
Detroit & Mackinac com, and pref
254 Jan. 2 Dec. 15 to Jan. 3
Elmira SC Williamsport, preferred
3.16 Jan. 2 Dec. 21 to Jan. 1
3
Georgia RR. & Banking (guar.)
Jan. 15 Jan. 2 to Jan. 14
1% Feb. 1 Jan. 11 to Feb. 2
Great Northern (quar.)
334 Jan. 10 Holders of rec. Dee.204
Harrisb. Portsm. Mt.Joy d. Lancaster
1% Dec. 31 Holders of reo. Dec. 6a
Hocking Valley (guar.)
Jan. 2 Dec. 12 to Jan. 5
2
Illinois Central, Leased Lines, guar
254 Jan. 2 Holders of rec. Dee.24a
Interborough Rapid Transit (guar.)
Jan. 2
Not closed.
International de Great Northern, pref
2% Dec. 30 Dec. 15 to Jan. 1
Kanawha& Michigan
1
Jan. 15 Holders of rec. Dec.31a
Kansas City Southern, pref. (guar.)
Jan. 1 Holders of rec. Dec. 7a
Lackawanna RR. of New Jersey (guar.)... 1
6
Jan. 29 Holders of rec. Deo.27a
Lake Shore de Michigan Southern
Feb. 1 Holders of rec. Dec.270
Guaranteed stock, Mich. Sou. & Nor.Ind. 6
Lehigh Valley, common and preferred..... $2.50 Jan. 11 Holders of rec. Dec.28a
$1.25 Jan. 15 Dec. 14 to Jan. 15
Little Schuylkill Nay.,RR.& Coal
3% Feb. 10 Jan. 21 to Feb. 9
Louisville Sr Nashville
Jan. 2 Holders of rec. Dec.14a
2
Lykens Valley RR.& Coal
$5 Feb. 1 Holders of rec. Jan. 10a
Mahoning Coal RR., common
2% Jan. 2 Holders of rec. Dec.24a
Preferred
1;4 Jan. 1 Holders of rec. Dec.16a
Maine Central (guar.)
1,i Jan. 2 Holders of rec. Dec.164
Manhattan Ry., guar.(guar.)(No. 115)
Jan. 29 Holders of rec. Dee.27a
3
Michigan Central
$1.25 Jan. 15 Dec. 21 to Jan. 14
Mine Hill & Schuylkill Haven
2
Jan. 1 Dec. 1 to Jan. 1
Birmingham, preferred
Mobile dr
3% Jan. 1 Holders of rec. Dec. 9a
Morris & Essex, guaranteed
N. Y. Central & Hudson River (guar.) . 1% Jan. 15 Holders of rec. Dec.20a
Jan. 2 Holders of rec. Dec.13a
5
New York & Harlem, corn, and pref
134 Jan. 1 Holders of rec. Deo.11a
N. Y. Lackawanna & Western (quar.)_ _
2
Dec. 31 Holders of recs. Dec.10a
N. Y. N. H. de Hartrord (guar.)
34 Jan. 1 Holders of roe. D80.14a
Norfolk Southern (guar.)
1
Feb. 19 Holders of rec. Jan. 31
Norfolk & Western, pref. (guar.)
$2 Jan. 15 Holders of rec. Dec.31a
Northern Central
1726
THE CHRONICLE
Per
When
Cent. Payable.
[V.oL. Lxxxxv.
Books Closed.
lVhen
Per
Books Closed,
Days Indusice.
N ame of Company.
Cent. Payable.
Days Inclusive.
Railroads (Steam) Concluded.
Banks (Concluded).
Northern RR. of New Hampshire (guar.). 134 Jan. 1 Holders of tee. Dec. Oa Columbia (No.49)
8
Jan. 1 Dec. 22 to Jan. 14
Northern Pacific (guar.)
13( Feb. 1 Holders of rec. Jan. 9 Commerce, National Bank of (guar.)
2
Jan. 2 Dec. 21 to Jan. 2'
Securities Company
Northern
2
Jan. 10 Dec. 25 to Jan. 10 Fifth Avenue (quar.)
25
Jan. 2 /holders of tea Dec.31a
Norwich & Worcester, preferred (guar.)._
2
Jan. 1 Dec. 15 to Dec. 31 Fifth National (guar.) (No. 150)
Jan. 2 Holders of rec. Dec. 31
3
Philadelphia Baltimore & Washington_ _ _ _
2
First National (quar.)
Dec. 31 Holders of rec. Dec.11a
7
Dec. 31 Holders of roe. Dec.30a
Philadelphia & Trenton (quar.)
Jan. 10 Jan. 1 to Jan. 10
Extra
5
Dec. 31 Holders of tee. Dec.30a
Pitts. Ft. W.&
reg. guar.(guar.).- 1% Jan. 7 Dee. 15 to Jan. 7 First Security Co. (quar.)
3
Dec. 31 Holders of rec. Dec.30a
Special guaranteed (quar.)_
Chic.,
Extra
Jan. 2 Dec 15 to Jan. 2
5
Dec. 31 Holders of rec. Dec.302
Reading Company,common (quar.)
Feb. 13 Holders of rec. Jan.27a First National, Brooklyn (guar.)
2
234 Jan. 2 Holders of rec. Dec. 20
Reading Company second preferred (qu.)1 Jan. 9 Holders of ree. Dec.24a
Extra
2
Jan. 2 Holders of rec. Dec. 20
Rensselaer & Saratoga
Jan. 2 Dec. 15 to Jan. 1 Fourth National (quar.)
4
2
Jan. 2 Dec. 27 to Jan. 1
Rich. Fred. & Potomac, cam, and die. obliq_ 4% Jan. 2 Dec. 23 to Jan. 3 Garfield National (quar.)
3
Dec. 31 Dec. 25 to Jan. 1
Rome & Clinton
Jan. 1 Dec. 22 to Jan. 1 German Exchange
3
10
Jan. 2 Dec'. 24 to Jan. 1
St. Lours Rocky Mt.& Pacific! Co.. Orel134 Dec. 31 Holders of rec. Dec. 10 Gotham National (quar.)
2
Jan. 2 Holdera of rec. Dec. 31
St. Louis & San FrandscOGreenwich (quar.)
234 Jan. 1 /holders of rec. Dec.21a
Chic. & E. Ill., corn. tr. certfs
Jan. 2 Dec. 18 to Jan. 2
Extra
5
2
Jan. 1 Holders of rec. Dec.214
Preferred stock tr. certfs. (quara - - 1% Jan. 2 Dec. 18 to Jan. 2 Hanover National
4
Jan. 2 Dec. 22 to Jan. 1
(guar.)
H. C. Ft. S.& Mem., pf. tr. ctf.(qua
Jan. 2 Dec. 18 to Jan. 2 Homestead (Brooklyn)_
1
2
Jan. 2 Dec. 21 to Jan. 2
St. Louis Southwestern, pref. (quar.)
134 Jan. 15 Holders of rec. Dec.31a Importers' & Traders' National
12
Jan. 2 Dec. 21 to Jan. 1
Southern Pacific (quar.)(No. 25)
134 Jan. 2 Holders of rec. Dec.2a International
Dec. 31 Holders of rec. Dec.30a
4
Union Pacific. common (guar.)
234 Jan. 2 Holders of rec. Dec. 2a Irving National (quar.)
Jan. 2 Dec. 21 to Jan. 1
2
United N.J. RR.& Canal Cos., guar.(qu.) 234 Jan. 10 Dec. 21 to Jan. 1 Liberty National (quar.)
Jan. 2 Holders of rec. Dec.31a
5
Valley RR.(N. Y.), gOaranteed
234 Jan. 1 Holders of rec. Dec.21a
Extra
Jan. 2 Holders of rec. Dec.31a
5
Vermont Valley
Jan. 1 Holders of rec. Dec.21a Manhattan Co., Bank of the (No. 213)-5
Jan. 2 Dec. 28 to Jan. 1
- 7
White Pass & Yukon
Jan. 15 Jan. 1 to Jan. 15
Extra
1
1
Jan. 2 Dec. 28 to Jan. 1
Street and Electric Railways.
Manufacturers' Nat.. Brooklyn (quara_ - 5
Jan. 2 Dec. 22 to Jan. 1
American cities Co., pref. (No. 3)
Jan. 1 Dec. 22 to Dec. 31 Market & Fulton National
3
Jan. 2 dDec. 25 to Jan. 1
3
Auburn & Syracuse Rim RR.. Pref. (fu.)
134 Jan. 15 Holders of rec. Dec.31a Mechanics', Brooklyn (No.(tillan)
121)
6
Jan. 2 Dec. 27 to Jan. 1
Augusta.Alken Ry.& Elec. Corp., pt.(qu.) 134 Dec. 31 Dec. 25 to Jan. 1 Merchants' Exchange National
3
Jan. 2 Holders of rec. Dec.20a
Aurora Elgin de Chicago RR., corn.(guar.)._
% Jan. 10 Holders of rec. Dec.230 Merchants' National (No. 219)
4
Jan. 2 Holders of rec. Dee. 26
Preferred (quar.)
134 Jan. 10 Holders of rec. Dec.23a Metropolitan (quar.)
2
Jan. 2 Dee. 21 to Jan. 1
Bangor Ry.& Elec. pref. (quar.)(No.5)_ _
Jan. 1 Holders of rec. Dec.21a Montauk (Brooklyn)
134
2
Jan. 1 Doe. 17 to Jan. 1
Bay State Street Ry., 1st pref
Feb. 1 Holders of rec. Jan. 18 Mount Morris (guar.)(No. 52)
3
3
Jan. 2 Dec. 21 to Jan. 1
Birmingham Ry., Light & Power, common 4
Mutual
Dee. 30 Dee. 23 to Jan. 1
Jan. 2 Dec. 24 to Jan. 2
Preferred
Dec. 30 Dec. 23 to Jan. 1 Nassau National, Brooklyn (quar.)
3
254 Jan. 2 Dec. 27 to Jan. 2
Balm; Suburban Electric Cos., pref. (quar.) $1 Jan. 15 Holders of rec. Jan. 2a New York, Bank of, N.B.A.(No.
Jan. 2 Dec. 22 to Jan. 1
258)-- 8
Boston & Worcester Elec. Cos., pref
$1 Jan. 1 Holders of rec. Dec.24a North Side, Brooklyn (No. 37)
3
Jan. 2 Dec. 28 to Jan. 14
Brooklyn Rapid Transit (quer.)
Holders of tee. Dec. 9a Park, National (guar.)
134 Jan. 1
4
Jan. 2 Holders of rec. Dec. 17
Capital Traction, Washington, D.C.(qua
134 Jan. 1 Dec. 9 to Jan. 8 People's of New York (No. 123)
5
Jan. 2 Dec. 22 to Jan. 1
Carolina Power & Lt., pref.(qua (No. 15) 134 Jan, 2 Holders of rec. Dec.23a People's National (Brooklyn)
2
Jan. 2 Holders of rec. Dec.31a
Chlcago City & Connecting Rye., pref_ _ _ _ 52.25 Jan. 1 Dec. 21 to Dec. 31 Prospect Park, Brooklyn (guar.)
134 Jan. 1 Dec. 31 to Jan. 1
.Chicago City Railway (guar.)
234 Dec. 30 Dec. 19 to Dec. 23 Seaboard National (quay.)
3
Jan. 2 Holders of rec. 1)ec.23a
1
Extra
Dec. 30 Dec. 19 to Dec. 23 State
Jan. 2 Doe. 14 to Jan. 1
Chippewa Val. Ry. L. & P., corn. (quar.) 2
Jan. 15 Dec. 31 to Jan. 1 Union Exchange National
4
Dec. 31 Dec. 22 to Jan. 1
% Dec. 31 Dec. 18 to Jan. 1 1Vashington Heights, Bank of (guar.)
Cinc. Dayton at Toledo Trac., common_ _ _
2
Dec. 31 Holders of rec. Dec.31a
Preferred
234 Dec. 31 Dec. 18 to Jan. 1 West Side
6
Jan. 2 Dec. 20 to Jan. 2"
Ctn. & Ham. Traction, common (guar.)._
1
Jan. 2 Dec. 22 to Jan. 1 Yorkville
10
Dec. 31 Dec. 22 to Jan. 9
Preferred (guar.)
134 Jan. 2 Dec. 22 to Jan. 1
Trust
bin. Newport & Coo. Lt. & Trac., cont.(qu.) 13-4 Jan. 15 Jan. 1 to Jan. 15 Bankers (guar.) Companies.
5
Jan. 2 Holders of rec. Dec.264
Preferred (par.)
15-4 Jan. 15 Jan. 1 to Jan. 15 Brooklyn (quay.)
5
Jan. 2 Holders of rec. Dec.21a
Cincinnati Street Ry. (guar.).
134 Jan. 2 Dec. 17 to Jan. 1
Extra
10
Jan. 2 Holders of rec. Dec.21a
City Ry., Dayton, 0., corn. (quar.)
Dec. 31 Dec. 21 to Dec. 31 Central (quar.)
2
9
Jan. 2 Holders of rec. Dee.23a
Preferred (quar.)
Extra
5
134 Dec. 31 Dec. 21 to Dec. 31
Jan. 2 Holders of rec. Dee.23a
Cleveland Ry.(quar.)
134 Jan. 2 Dec. 1 to Jan. 1 Columbia-Knickerbocker (quar.)
Dec. 31 Holders of rec. Dec.23a
5
Columbia (S. C.) Ry., G.& El., pf. (qu.)_
134 Jan. 1
Empire (guar.)
234 Dec. 28 Holders of rec. Dec. 21
Columbus (Ga.) Electric Co., pref.(No.13) 3 IJan. 1 Holders of rec. Dec.21a Equitable
6
Dec. 31 Holders of rec. Dee.26a
Columbus Newark & Zanesville, pf. (qu.) 134 ,Jan. 1 Dec. '25 to Dec. 31 Fidelity (quar.)
3
Jan. 2 Dec. 20 to Jan. 1
Ciansolidated Traction of New Jersey
2 'Jan. 15 Jan. 1 to Jan. 15 Franklin, Brooklyn
Dec. 31 Dec. 27 to Jan. 8
Continental Passenger Ry. PhiladelpIda_
$3 Dec. 30 Holders of rec. Nov30a Fulton (No. 41)
Jan. 2 Holders of rec. Dec. 23
5
Denver & Northwestern Ry. (guar.)
Jan. 10 Holders of rec. Jun. la
2
Extra
Jan. 2 Holders of rec. Dec. 23
2
Duluth-Superior Trite., common (guar.)._
134 I Jan. 2 Holders of rec. Dec.10a Guaranty (quar.)
6
Dec. 31 Holders of rec. Dec.27a
Preferred (quar.)
:Jan. 2 Holders of rec. Dec.10a
1
Extra
Doe. 31 Holders of rec. Dec.27a
2
Eastern Texas El. Co., pref.(No.2)
$3 IJan. 1 Holders of rec. Dec.18a Hudson
3
Jan. 2 Dee. 22 to Jan. 1
El Paso Electric Co., pref. (No. 21)
3 ,Jan. 13 Holders of rec. Jan. 4a Lawyer's Title Ins. & Trust (quar.)
Jan. 2 Dec. 17 to Jan. 2
3
Frankford S Southw. Pam.,
(quar.) $4.50 'Jan. 2 Holders of rec. Dec.14a Long Island Loan at Trust, Bklyn. (quar.) 3
Jan. 2 Holders of rec. Dec.21a
Germantown Passenger Ry., Phila.(qu.).$ 1.31g Jan. 7 Dec. 18 to Jan. 6 Mechanics of New Jersey
5
Jan. 2 Dec. 29 to Jan. 2
(quar.)
Halifax Elec. Tram., Ltd. (qtr.)(No.64)_ _
Jan. 2 Dec. 18 to Jan. 2
2
Extra
Jan. 2 Dec. 20 to Jan. 2
5
itlinois Traction, pref. (guar.)
134 Jan. 2 Holders of rec. Dec.15a Metropolitan (quar.)(No.64)
6
Dec. 31 Dec. 21 to Jan, 1
Jan. 1 Dec. 24 to Jan. 1 Mutual Alliance (quar.)
Indianapolis Street Ry
3
134 Jan. 2 Dee. 29 to Jan. 1
Interstate Railways, preferred
30c. Jan. 1 Dec. 21 to Dec. 31 Mutual of Westchester County (quar.)--13-4 Jan. 1 Holders of rec. Dec.31a
Lake Shore Elec. Ry., first pref. (quar.). _
15-4 Jan. 1 Holders of roe. Dec.21a New York (guar.)
8
Dee. 31 Dec. 22 to Jon. 1
Little Rock Ry.& Electric, common
Jan. 1 Dec. 23 to Jan. 1 People's, Brooklyn (monthly)
5
.
1
Jan. I Hakim of rec. 1)ec.314
3
Preferred
Jan. 1 Dee. 23 to Jan. 1 Title Guarantee & Trust (quar.)
5
Dec. 31 Holders of roe. Dee. 23
London (Canada) Street Ry
Jan. 2
3
Extra
4
Dec. 31 Holders of tee. Deo. 23
Louisville Traction, common (quar.)---Jan. 2 Dec. 11 to Dec. 15 Union (quar.)
1
1234 Jan. 10 Holders of tee. Jan, 6a
Manila Elec. RR.& Ltg. Corp.(quar.)._ _
134 Dec. 31 Holders of rec. Dec.18a United States
25
Jan. 2 Dec. 20 to Jan. 1
Extra
1
Dec. 31 Holders of rec. Dec.18a U. S. Mortgage & Trust (guar.)
6
Dec. 31 Holders of roe. Dec. 21
Massachusetts Elec. Cos. pref
2
Jan. 1 Holders of reo. Dec. 5 Washington (guar.)
4
Jan. 2 Holders of rec. Dec. 24
Memphis Street Ry., pref. (quar.)..
Firo Insurance.
134 Dec. 31 Holders of rec. Dec. 22
Metropolitan Wont Side Elev., Chic., corn..
3-10 Dec. 31 Dec. 21 to Doc. 31 Hanover Fire (quar.)(No. 125)
Jan. 2 Dec. 23 to Jan. 3
4
Preferred (quar.)
Miscellaneous.
234 f)ec. 31 Dec. 21 to Dee. 31
Mohawk Valley Co. (quar.)....
__
134 Jan. 2 Holders of rec. Dec. 24 Aeolian, Weber Piano & Planar, pf. (qu.) 134 Dec. 31 Holdera of rec. Dec. 26
Nashville Ry. & Lt., prof. (quar.).
-134 Jan. 1 Holders of rec. Dec. 26 Amer. Agri°. Chem., corn. (qu.)(No. 5).... 1
Jan. 15 Holders of rec. Dec.23a
New I ngland Investment & Security, pref.. 2
Jan. 1 Holders of rec. Dec.20a
Preferred (guar.) (No. 30)
134 Jan. 15 Holders of tee. Dec.230
,
New Orleans Ry. & Light, common
50 eta. Dec. 31 Dec. 20 to Jan. 1 American Bank Note, pref. (quar.)
134 Jan. 2 Dec. 17 to Jan. 2
Preferred (guar.)
Dec. 31 Dec. 20 to Jan. 1 American Beet Sugar, pref. (qua (No. 54) 154 Jan. 2 Holders of rec. 1)ec.14a
134
New York State Rye., common (quar.)_. 134 Jan. 2 Holders of rec. Dec.18a Amer. Brake Shoo & Fdy.,corn. & Of.(qua 134 Dee. 31 Holders of roe. Deo.20a
Preferred (guar.)
134 Jan. 2 Holders of rec. Dec.18a American Can, Preferred (quer.)
154 Jan. 1 Holders of rec. Dec.19a
Northern Ohio Trait. & Light, pref. (qu.). 134 Jan. 1 Holders of rec. Dec.15a
Preferred (extra)
34 Jan. 1 /holders of rec. Dec.19a
Ohio Traction, common (guar.)
1
Dec. 31 Holders of rec. Dec.26a Amer. Car & Fdy., corn.(quar.)(No.41)_
34 Jan. 1 Holders of rec. Dec.10a
Ottawa Electric Ry
3
Jan. 1 Holders of rec. Dec.31a
Preferred (quar.) (No. 55)
134 Jan. 1 Holders of rec. Deo 104
Bonus
Jan. 1 Holders of tee. Dec.31a American Chicle, common (monthly)
3
1
Jan. 20 Holders of rec. Dec.213a
Gas de Electric, corn.(quar.)(No.4) 134 Jan. 15 Holders of rec. Dec.14a
Common (extra)
1
Jan. 20 Holders of rec. Doc.26a
Philadelphia Company,com.(qu (No.125) 134 Feb. 1 Holders of rec. Jan. 2a
Preferred (guar.)
134 Jan. 2 Holders of rec. Dee.26a
Porto Rico Rye., Ltd., corn. (quar.)
Jan. 2 Holders of tee. Dec. 20 American Cigar, preferred (quar.)
1
134 Jan. 2 Holders of rec. Dec 14a
Preferred (guar.)
1% Jan. 2 Holders of rec. Dec. 20 American Coal Products, corn. (quar.)
154 Dee. 31 Dec. 24 to Dec. 30
Public Service Corp. of New Jersey (quar.) 134 Dec. 31 Holders of rec. Dec.270 American Coal Products, pref. (guar.)_ _ _ - 13-4 Jan. 15 Jan. 11 to
Jan. 15
Reading Traction
Jan. 1 Dec. 22 to Jan. 1 American Express (quar.)
Jan. 2 Holders of tea. Nov.30a
$3
Republic Ry.& Light, pref.(guar.)(No.6) 75 3ia. Jan. 15 Holders of rec. Dec. 31 Amer. Gas & Elec., corn. (quar.) (No. II) 134 Jan. 2 Deo. 18 to Jan.
1et
Ridge Avenue Passenger Ry., Philadelphia
Preferred (quar.) (No. 24)
Jan. 1 Dec. 17 to Jan. 1
$3
134 Feb. 1 Jon. 16 to Feb. 2
St. JosephRy.,L.,H.&P.,Pf.(qu.)(NO.41) 134 Jan. 2 Holders of rec.Deo.d14a Am. Iron & Steel Mfg., corn. & pf.(qua- 154 Jun. 1 Holders of rec. Doc.21a
Scioto Valley Trac. 1st pref. & pref. (quar.)_
134 Jan. 1 Dec. 25 to Dec. 31 American Locomotive, preferred (quar.)_ _
134 Jan. 21 Jan. 5 to Jan. 21
Second & Third Sta. Pass., Phila. (quarj_ $3
Jan. 2 Holders of rec. Dec. 20 American Manufacturing (quar.)(No. 63).. 134 Jan. 1 Holders of rec. Dec.16a
South Side Elevated, Chicago (guar.)._ _
134 Dec. 31 Holders of rec. Dec. 20 American Piano, preferred (guar.)
134 Jan. 1 Dec. 22 to Jan. 1
Stark Electric RR.(guar.)
American Pipe &Construction (guar.).-34 Jan. 1
Jan. 1 Holders of rec. Dee. 14
2
Terre hirsute, Indianap.& East., met.(111.) 154 Jan. 1 Dec. '22 to Jan. 1 Amer. Power & Lt., pref. (qu.)(No. 13).134 Jan. 2 Dee. 24 to Jan. 1
Thirteenth & Fifteenth Sts. Pass., Phila_
26 Jan. 2 Dec. 21 to Jan. 1 American Public utilities, common (quar.)
34 Jan. 1 Dee. 21 to Dec. 31
Toronto Railway (quar.)
Jan. 2 Holders of rec. Dec.16a
2
Preferred (quar.)
134 Jan. 1 Dec. 21 to Dec. 31
Twin City Rapid Tran., Minn., corn.(qu.) 134 Jan. 2 Holders of rec. Deo.16a American Radiator, common (guar.)
2
Deo, 31 Dee. 22 to Dec. 30
Preferred (quer.)
134 Jan. 2 Holders of tea. DecAtia American Screw
234 Dec. 31 [folders of rec. Dee.24a
Union Passenger Ry., Philadelphia
Amer. Seeding Machine, common (guinea_
$4.75 Jan. 1 Holders of roe. Dec.16a
Jan. 15 Holders of rec. Dec.31a
1
Union Hy., Gas & Electric, pref. (iruara_ _
134 Jan. 2 Holders of rec. Dec.20a
Preferred (guar.)
I% Jan. 15 Holders of rec. Dec.31a
Union Traction. Philadelphia
$1.50 Jan. 1 Holders of rec. Dec.101 American Shipbuilding, preferred (guar.). 134 Jan. 15 Jan. 3 to Jan. 15
United Electric Co. of N. J.
234 Jan. 1 Holders of reo. Jan. la Am. Smelters Sec., pref. A (qu.)(No. 32)_
134 Jan. 2 Dec. 21 to Dec. 29
United Light & Rye., first pref. (quar.)
134 Jan. 2 Dec. 22 to Jan. 1
Preferred B (quar.) (No. 31)
154 Jan. 2 Dee. 21 to Dec. 29
Second preferred (guar.)
g Jan. 2 Dec. 22 to Jan. 1 American Snuff, common (quar.)
Jan. 1 Holders of rec. Dec.14a
3
United Trae. at Elec., Providence (guar.). 134 Jan. 2 Dee. 11 to Dee. 15
Common (extra)
Jan. 1 holders of tea. Dec.14a
3
Virginia Ira . & Power, preferred
,
Preferred (quar.)
104 Jan. 1 Holders of rec. Dec.14a
234 Jan. 10 Holders of rec. Dec.14a
Wash. Ball. & Annapolis Elec. RR., pref_ _
434 Dec. 31 Holders of rec. Dec. 24 Amer. Sugar Refining, corn. & pref. (qu.).. 15-4 Jan. 2 Holders of rec. Dec. 2a
Washington Water Power, Spokane (qu.). 2
Jan. 2 Holders of tee. Dec.d40 American Surety (quar.) (No. 94)
Dec. 31 Dec. 8 to Jan. 7
3
West End Street. Boston. pref. (quay.),... $2 Jan. 1 Dec. 24 to Jan. 1
Extra
3
Dec. 31 Dec. 8 to Jan. 7
Western N. Y. & Penn. Tree.,first prer
3
Jan. 20 Holders of rec. Jan. 1Sa Amer. Telephone & Telegraph (quar.)- - - 2
Jan. 15 Holders of rec. Dec 31a
Western Ohio Ry., let pref. (quar.)
134 Jan. 1 Holders of rec. Dec.23a American Thread, preferred
234 Jan. 1 Nov. 16 to Nov. 30
Second preferred (quar.)..
134 Jan. 10 Holders of ree. Dee.23a American Tobacco, preferred (qtiar.)
I% Jan. 2 Dec. 13 to Jan. 2
West India Elec. Co.. Ltd.(qua (No. 20). 13.4 Jan. 2 Dec. 24 to Jan. 2 Amer. Type Founders, common (quar.).... 1
Jan. 15 Holders of rec. Jan.10a
,
West Philadelphia Passenger HY
55 Jan
1 Holders of ree.Derf. 10a
Preferred (quay.)
134 Jan. 15 Holders of rec. Jan.10a
Winnipeg Electric Hy. (guar.)
3
Jan. 2 Holders of rec. Dee.10a Am. Wet. Wks.& Guar., pref. fouara_ - _
134 Jan. 1 Holders of roe. Dee.160
Banks.
Amer. Woolen, pref. (guar.) (No.
13/ Jan.Jan. 15 Dec. 24 to Jan. 7
_
5
Aetna National (guar.)
2
Jan. 2 Holders of rec. Dec. 24 Anaconda Copper Mining (quar.)(No. 49). 15Jan. 15 Holders of rec. Jan. 4
75c.
America, Bank of
14
Jan. 2 Dee. 21 to Jan. 2 Anglo-American Oil, Ltd
JD No. 3
r
nc.
jj:nn 1t itol(ecera 0
111 000 r s 0tf czo p.ae .238a
Battery Park National
3
Jan. 2 Holders of rec. Dec. 23 Asheville Power & Light, Pref.
c.
Butchers'& Drovers', National
3
Jan. 2 Dec. 20 to Jan. 1 Associated Merchants, lot pref.(quar.)
(quar.)_ _
Century (quay.)
Jan. 2 Dec. 25 to Jan. 1
3
First preferred (extra)
34 Jan. 15 Holders of rec. Jan. 8
Chase National (par.)
Jan. 2 Holders of rec. Dec. 3a
5
Second preferred (guar.)
134 Jan. 15 Holders of rec. Jan. 8
Chatham k Phenix National (quay.)._
Jan. 2 Dec. 22 to Jan. 2
2
Second preferred (extra)
34 Jan. 15 Holders of rec. Jan. 8
Chemical National (bi-monthly)
234 Jan. 2 Dec. 26 to Jan. 1 Baldwin Locomotive Works, common.._ _
Jan. 1 Holders of rec. Dee.14a
1
Citizens' Central National (quar.)
Jan. 2 Holders of rec. 1)ec.27a
2
Preferred
334 Jan. 1 Holders of rec. Dec.14a
City, National (Brooklyn) (No.121)
7
Jan. 2 Dec. 25 to Jan. 1 Baltimore Electric, preferred
234 Jan. 2 Holders of rec. De0.20
Coal & Iron National (quar.)
134 Jan. 2 Holders of rec. Dec. 11 Bell Telephone of Pennsylvania (guar.)
13.4 Jan. 15 Jan. 4 to Jan. 15
Colonial
Holders of rec. Dec.21a Bliss (E. W.) Co., pref. (quar.)
234 Jan.
Jan. 2 ciDec. 22 to
2
Dec. 31
Ertro
2
Dec. 24Holders of rec. Dee.21a
Name of Company.
DEC. 28 1912]
TIIE CIIRONICLE
When
Per
Cent. Payable.
Name of Company.
Books Closed.
Days Inclusive.
Miscellaneous (Continued).
Jan. 2 Dec. 22 to Jan. 1
Booth Fisheries, first pref. (quar.)
Bourbon Stock Yards (qUar.)
13 Jan. 2 Holders of rec. Dec. 26
British-American Tobacco, Ltd., ordin'y 6
Jan. 7 See note e
British-Amer. Tob., Ltd., ordinary (final) 8
Jan. 7
3
Jan. 15 Holders of rec. Jan. 2a
BritLeh Columbia Copper (quay.)(No.6)
Jan. 2 Dec. 15 to Jan. 1
BrOoklyn Union Gas (quar.) ktio. 47)__
Jan. 2 Dec. 15 to Jan. 1
Extra
Jan. 1 Holders of rec. Dec.20a
Brun.awlck-Balke-Collender, pref. (guar.).
Buffalo General Electric (quar.) (No. 73)_
131 Dec. 31 Holders of rec. Dec. 20
Jan. 15 Holders of roc. Deo. 31
2
Bush Terminal, common (No. 6)
Jan. 2 Holders of rec. Dee. 31
3
Preferred (NO. 11)
Butte Electric & Power, common (quer.). 134 Jan. 2 Holders of rec. NoV300
(No.1) 131 Jan. 1 Holders of tee. Dee.150
California Petrol. Corp., corn. (qtr.)
Jan. 1 Holders of rec. Dee.15a
Preferred (quar.) (No. 1)
Jan. 25 Holders of rec. Dec.31a
Canadian Car & Foundry, pref. (quar.)_._
Jan. 1 Holders of rec. Dee. 21
Canadian Consolidated Rubber, Ltd., corn. 1
Preferred (quar.)
131 Jan. 1 Holders of rec. Dec. 12
Canadian Cottons, Ltd., pref. (gyar.)
131 Jan. 4 Dec. 25 to Jan. 3
Jan. 2 Dec. 16 to Dec. 31
Canadian General Elec., Ltd., com.(qu.).
Jan. 2 Dee. 16 to Dec. 31
1
Common (bonus)
Jan. 2 Dec. 21 to Jan. 1
Canadian Locomotive, preferred (guar _
Jan. 10 Jan. 1 to Jan. 9
(No.32)
Canadian Westinghouse,Ltd.(qu.)
2
Jan. 10 Jan. 1 to Jan. 9
Bonus
Case (J. I.) Threshing Mach., pref. (qu.). 13 Jan. 1 Dec. 19 to Dec. 20
131 Dec. 31 Holders of rec. Dec.14a
Celluloid Company (quar.)
2
Dec. 31 Holders of rec. Dec.14a
Extra
Jan. 15 Jan. 1
to Jan. 15
Central Coal & Coke,common (quar.)
134 Jan. 15 Jan. 1
to Jan. 15
Preferred (quar.)
134 Jan. 2 Holders of rec. Dec.104
Central Leather, pref. (quar.)
1% Jan. 9 Holders of rev. Dec.31a
Central & S. A. Telcg.(quar.)
Central States El. Corp., pt.(qu.)(No.2)
131 Jan. 2 Holders of rec. Dec. 10
Jan. 2 Holders of rec. Dec.17a
Ch. June. Rys.& Un. Stk. Yds.,com.(qu.) 2
Preferred (quar.)
131 Jan. 2 Holders of rec. Dec.17a
1
Jan. 25 Jan. 16 to Jan. 26
Chicago Pneumatic Tool (guar.)
2
Dec. 31 Holders of rec. Dec.28a
Chicago Telephone (quar.)
10
Dec. 31 Dec. 24 to Jan. 1
Cincinnati Gas Transportation, common
Cities Service, common (monthly)
1-3 Jan. 1 Holders of rec. Dee.15a
Preferred (monthly)
% Jan. 1 Holders of rev. Dee.15a
City Investing, preferred (quar.)
134 Jan. 2 Holders of rec. Dec. 26
Columbus (0.) Gas & Fuel, preferred (qu.) 134 Jan. 2 Holders of rec. Dec. 16
Columbus (0.) L., H.& P., corn. (quar,) 134 Jan. 1 Holders of rec. Dec.16a
Preferred (quar.)
131 Jan. 1 Holders of rec. Dec.16a
231 Jan. 15 Holders of rec. Dec. 31
Consolidated Car Heating
Consol. Gas, El. L.& P., Balt. corn.(qu.) 134 Jan. 2 Holders of rec. Dec. 20
Consumers' Power (Mich.), pref. (quar.). 131 Jan. 2 Holders of rec. Dec.20a
Corn Products Refining, pref. (guar.)
134 Jan. 15 Holders of rec. Jan. 6
Cuban-American Sugar, pref. (quar.)..._. 134 Jan. 2 Holders of rec. Dec.160
Dayton Power & Light, pref. (quar.)
131 Jan. 15 Holders of rec. Dec.31a
Delaware Lacka ware & Western Coal (guar.) 231 Jan. 15 Holders of rec. Dee.31a
131• Jan. 15 fielders of rec. Jan. 2a
Detroit Edison (guar.)
Dominion Pow.& Transmie., pt.(No 27)- 331 Jan. 15 Dec. 16 to Dec. 31
Domin.Steel Corp.,Ltd.,com.(qu.)(No.7) 1
Jan. 2 Holders of rec. Dec. 19
Dominion Textile, preferred (quar.)
131 Jan. 15 Holders of rec. Dec. 31
Duluth Edison Electric, preferred (guar.)_ _
131 Jan. 1 Holders of rec. 1)ec.23a
du Pont Internat. Powder, pref. (quar.)
131 Jan. 2 Holders of rec. Dec. 20
duPont(E.I.) de Nem. Powd., pref. (qu.). 134 Jan. 25 Jan. 16 to Jan. 26
Jan. 2 Holders of rec. Dec. 20
2
Eastern Light & Fuel (quar.)
Eastman Kodak, common (guar.)
236 Jan. 2 Holders of roc. Nov.304
Preferred (quar.)
131 Jan. 2 Holders of rec. Nov.300
Dec. 30 Holders of rec. Dec.28a
Electrical Securities Corp., corn. (quar.).- 2
131 Feb. 1 Holders of rec. Jan.28a
Preferred (quar.)
A Jan. 15 Holders of rec. Jan.10a
Electrical Utilities Corp., corn.(qu.)(No.21)
Preferred (guar.) (No. 11)
131 Jan. 15 Holders of rec. Jan.10a
Electric Light & Power of Abington and
Jan. 1 Holders of rec. Dec.21a
$4
Rockland (Mass.) (No. 39)
Jan. 2 Holders of rec. Dec.21a
Electric Storage Battery, corn. & pf. (qu.) 1
2
Jan. 1 Holders of rec. Dee 31a
Empire Steel & Iron, preferred
4
Dee. 31 Holders of reo Nov.304
Galena-Signal Oil, common (guar.)
2
Dec. 31 Holders of roe .Nov.304
Preferrea (quar.)
1
Jan, 1 Holders of rec. Dec.21a
General Baking, pref. (quar.) (No. 4)_
5h Feb. 1 Holders of rec. Dec. 31
General Chemital, common (extra)
131 Jan. 2 Holders of rec. Dec.194
Preferred (quar.)
134 Jan. 2 Holders of rec.Dee. 190
Gen. Chem. of California, 1st pref. (qu.)_ _
2
Jan. 15 Holders of rec. Nov.30a
General Electric (quar.)
General Electric (payable in stock)
30k Jan. 18 Holders of rec. Dec.31a
General Fireproofing, Preferred (guar.) _ _
1% Jan. 1 Holders of rec. Dec. 20
General Gas & Elec., pref. (quar.)
131 Jan. 2 Holders of rec. Dec. 20
Goodrich (B. F.) Co., pref. (quar.)
134 Jan. 2 Holders of rec. Dec.23a
Gorham Manufacturing, preferred (quar.) 131 Jan. 2 Holders of rec. Dec.24a
Great Lakes Towing, pref. (guar.)
134 Jan. 2 Dec. 17 to Jan. 2
Guggenheim Exploration (quar.)(No.40). 231 Jan. 2 Dec. 14 to Dec. 18
Harrison Bros. & Co., Inc., pref. (quar.).
1
Feb. 1 Jan. 28 to Jan. 31
Hart, Schaffner & Marx, pref. (quar.)__.... 134 Dec. 31 Holders of rec. Dec.20a
Helme (Geo. W.), common (quar.)
231 Jan. 2 Holders of rec. 1)ec.14a
Preferred (quar.)
134 Jan. 2 Holders of rec. Dec.14a
2
Jan. 15 Holders of rec. Jan. 5
Illinois Brick
$4 Feb. 15 Holders of rec. Jan. 25
Indiana Pipe Line
3
Jan. 1 Holders of rec. Dec.14a
Ingersoll-Rand, preferred
Intercontinental Rubber, pref.(quar.)___ _
134 Dec. 31 Dec. 22 to Jan. 1
International Agricultural Corp., pref
331 Jan. 15 Holders of rec. Dec.31a
Internat. Pothole Sew. Mach.(gu.) (No. 61) 1
Jan. 15 Holders of rec. Jan. 4
Internat. Harvester, corn. (qu.)(No. 12). 134 Jan. 15 Holders of rev. Dec.24a
International Nickel, common (quar.)_
231 lalch. 1 Feb. 11 to Mob. 2
Preferred (quar.)
131 Feb. 1 Jan. 14 to Feb 2
International Paper, preferred (guar.)
% Jan. 15 Holders of rec. Jan. 2a
International Silver, preferred (quar.).
134 Jan. 2 Dec. 18 to Jan. 2
Preferred (account accum. dividends)
34 Jan. 2 Dec. 18 to Jan. 2
Internat.SmokelessPow.&Chem., pf. (qu.)
34 Jan. 2 Holders of roe. Dee.20a
50e. Feb. 1 Holders of rec. Jun. 25
Island Creek Coal, common (quar.)
$1.50 Jan. 1 Holders of roc. Dec. 21
Preferred (quar.)
134 Jan. 2 Dec. 24 to Jan. 2
Kansas Gas & El:, pref. (qu.)(No. 11).
Jan. 2 Holders of rec. Dee.20a
Kayser (Julius) & Co., common (quar.).. 1
First and second preferred (guar.)
134 Feb. 1 Holders of rec. Jan. 20a
131 Jan. 1 Holders of rec. Dec.21a
Kolb Bakery, preferred (guar.) (No.
134 Jan. 2- Holders of rec. Dec.14a
Kresge (S. S.), preferred
% Jan. 31 Jan. 16 to Jan. 31
La Belle Iron Works, corn. (guar.)
Lanston Monotype Machine (quar.)
131 Dec. 30 Holders of rec. Dec. 23
231 Jan. 20 Jan. 1 to Jan. 17
La Rose Consolidated Mines (quar.)
231 Jan. 20 Jan. 1 to Jan. 17
Bonus
2
Jan. 2 Holders of rec. Dec. 24
LaUrentide Company, Ltd.(guar.)
3
Dec. 31 Holders of rec. Dec. 23
Lawyers' Mortgage (quar.)(No.45)
Liggett & Myers Tobacco, pref.(quar.)_
134 Jan. 2 Holders of rec. Dec.14a
(No.3) 134 Jan. 1 Dec. 21 to Jan. 1
Loose-Wiles Biscuit, 1st pref.(qu)
Second preferred (quar.) (No.3)
134 Feb. 1 Jan. 16 to Feb. 2
231 Jan. 2 Holders of rec. Dec.16a
Lorillard (P.), common (quar.)
Common (extra)
231 Jan. 2 Holders of rec. Dee.ilia
Preferred (quar.)
134 Jan. 2 Holders of rec. Dec. 16
MacAndrews & Forbes, common (quar.)_ _
231 Jan. 15 Holders of rec. 1)ec.31a
Preferred (quar.)
131 Jan. 15 Holders of rec. Dec.31a
Mackay Companies. corn. (qu.) (No. 30)- lg Jan. 2 Holders of rec. Dec.1 la
1
Jan. 2 Holders of roe. Dee.lia
Preferred (quar.) (No. 36)
Manhattan Shirt, pref. (guar.) (No. 2)._
134 Dec. 31 Holders of rec. Dec.16a
Manufacturer's Light & Heat (par.)
13-4 Jan. 15 Jan. 1 to Jan. 15
Mit.aaachusetts Gas Cos., common (quar.) $1 Feb. llHolders of rec. Jan. 18
Massachusetts Ltg. Cos. (quar.)(No. 37)_
13( Jan. 15'Holders of rec. Dec.2ea
May Department Stores, pref. (quar.)_
13-4 Jan. 1 Holders of rec. Dec.16a
Mergenthaler Linotype (guar.)
231 Dec. 31 Holders of rec. Dec. 7a
Extra
33-4 Dec. 31 Holders of rec. Dee. 7s
2-3 Jan. 2 Holders of rec. Dee.15a
Mexican Petroleum, preferrrd (monthly)_
Mexican Telegraph (guar.)
231 Jan. 161Holders of rec. Dec.31a
Michigan Light, preferred (quar.)
131 Jan. 2 Holders of rec. Dec.20a
Michigan State Teleph., cont. & pref.(qu.) 131 Dec. 31 Dec. 22 to Jan. 1
134 Dec. 31 Holders of rec. Dec. 23
Mortgage-Bond (quar.)
National Biscuit, common (quar.)
134 Jan. 15 Holders of rec. Deo.28a
National Carbon, common (guar.)
131 Jan. 15 Jan. 5 to Jan. 15
National Fireproofing, pref. (guar.)
Jan. 15 Holders of rec. Jan. 4
1
Nat. Gas, Else. L. & P., pref. (quer.).-- 134 Jan. 1 Dec. 27 to -Jan. 1
NationaljLead, common (quar.)
ei 1)ec. 31 Dec. 14 to Dec. 17
NationuilLicorice, pref. (guar.)(No. 42)- 13.4 Dec. 31 Dec 27 to Jan. 1
Nationagelugar Refining. pref. (quar.)134 Jan. 2 Holders of rec. Dec. 13
leatIonallISuretv (eller.)
to Jan. 1
Jan. 2 Dec. 21
3
134
131
1
I%
134
134
.)_
131
134
131
131
17'47
Per
When
I Cent. Payable
Name of Company.
Books Closed
Days Inaustoe
Miscellaneous (Concluded).
Nevada Consolidated Copper (guar.)
3731c. Dec. 31 Dec. 7 to Dec. 11
Extra
50c. Dec, 81 Dec. 7 to Dec. 11
New England Teleph. & Teleg. (quar.)
Dec. 31 Holders of rec.-Dec.16a
N. Y. Mortgage ek Security (quar.)
3
Jan. 3 Holders of rec. Dec. 23
N. Y. Mutual Gas Light
4
Jan. 10 Holders Of rec. Dec.27a
Now York Transit (quar,)
10
Jan. 15 [folders of rec. Dec. 23
Niagara & Erie Power (guar.)
$2 Dec. 31 Holders of roc. Dec. 28
Niagara Falls Power (guar.)
2
Jan. 15 Holders of rec. Dec.31a
Nipe Bay Co., preferred (quar.)
1
Jan. 15 Holders of rec. Dec. 24
Nipissing Mines Co. (quar.)
5
Jan. 20 Jan. 1 to Jan. 17
Extra
234 Jan. 20 Jan. 1 to Jan. 17
North American Co. (quar.) (No. 35).._..
Jan. 2 Holders of rec. Dec.16a
North. Ontario Lt. & Pow., Ltd., pref..
Dee' 31 Dec. 17 to Dec. 31
$6
Preferred (issued in Sept. 1912)
(1) Dec. 31 Dec. 17 to Dec. 31
Northern Pipe Line
Jan. 2 Holders of rec. Dec. 16
5
Nova Scotia Steel & Coal, common (quar.) 131 Jan. 15 Holders of rec. Dee.31a
Preferred (quar.)
Jan. 15 Holders of rec. Dec.31a
2
Old Dominion Steamship
Jan. 2 Dec. 21 to Jan. 2
3
Osceola Consolidated Mining (guar.)
$3 Jan. 31 Holders of rec. Dec.28a
Otis Elevator, common (quar.)
Jan. 15 Holders of rec. Doc. 31
1
Preferred (quar.)
Jan. 15 Holders of rec. Dec. 31
Pay-As
-You-Enter Car Corp., pref. (guar.)_
134 Jan. 15 Holders of rec. Jan. 6
Penn Central Light ce Power, preferred
Jan. 2 Holders of rec. Dec. 20
2
Pettibone, Mulliken & Co., lst&2d pf.(qu.) 134 Jan. 2 Holders of rec. Docile
Pittsburgh Coal, preferred (guar.)
134 Jan. 25 Holders of rec. Jan. 15
Pittsburgh Plate Glass, common (quar.)_. 134 Dec. 31 Dec. 17 to Jan. 1
Procter & Gamble, pref. (quar.)
2
Jan. 15 Holders of rec. Dec.31a
Producers' 011 (guar.)
$1.50 Dec. 31 Holders of rec. Dec. 13
Public Securities Co., preferred
331 Jan. 1 Holders of rec. Dec.24a
Quaker Oats, common (quar.)
231 Jan. 15 Holders of rec. Jan. 2a
Preferred (quar.)
134 Feb. 28 Holders of rec. Feb. la
Realty Associates(No.20)
3
Jan. 15 Holders of rec. Jan. 6
Reece Buttonhole Mach. (guar.) (No. 107)- 3
Jan. 15 Holders of rec. Jan. 4
Republie Iron & Steel, pref.(qu.)(No.41) 131 Jan. l Holders of rec. Dec.14a
Reynolds (R. J.) Tobacco
3
Jan. 1 Holders of rec. Dec.16a
Extra
2
Jan. 1 Holders of rec. Dec.ltla
1
Rhode Isl, Perk. Horseshoe, pref. (guar.)__ _
Jan. 15 Holders of rec. Jun. 3
3
Dec. 31 Holders of rec. 1)ec.16a
Royal Baking Powder, common (quar.)._ _
Preferred (quar.)
131 Dee, 31 Holders of rec. Dec.16a
Rumely (M.) Co., prof. (guar.)
134 Jan. 2 Dec. 21 to Jun. 1
Sears, Roebuck & Co., pref. (quar.)
134 Jan. 1 Holders of rec. Dec.144
Securities Company
to Jan. 15
231 Jan. 15 Jan. 1
Jan. 20 Holders of rec. Jan.
Shawinigan Water & Power (guar.)
Sloss-Sheffield Steel & Iron, pref. (guar.) 134 Jan. 2 Holders of rec. Dec.20a
Southern Calif. Edison, pref.(qu.)(No.14) 13-4 Jan. 15 Holders of rec. Dec. 31
Southern N. E. Telephone (guar.)
13-4 Jan. 15 Jan. 1 to Jan. 15
Jan. 2 Holders of rec. Dec.14a
South Porto Rico Sugar, common (guar.). 1
Jan. 2 Holders of rec. Dec.14a
2
Common (extra)
Jan. 2 Holders of rec. Dec.144
2
Preferred (guar.)
Dec. 31 Holders of rec. Dec. 16
South West Pennsylvania Pipe Lines (qu.) 5
Spring Valley Water (guar.)
50c. Dec. 31 Dec. 17 to Jan.
Standard Gas Light, N. Y., common
134 Dec. 31 Dec. 20 to Jan. 1
Preferred
Dec. 31 Dec. 20 to Jan. 1
3
Standard Screw, common
Jan. 1 Holders of rec. Dec.14a
2
Preferred
Jan. 1 Holders of rec. Dec.14a
3
Stetson (J. B.), common
Jan. 15 Holders of rec. Jan. 1
15
Preferred
4
Jan. 15 Holders of rec. Jan. 1
Subway Realty (quar.)
lee Jan. 2 Holders of rec. Dec.24a
Sulzberger & Sons Co., pref.(quar.)
Jan. 2 Dec. 15 to Jan.
Swift & Co.(quar.) (No. 105)
134 Jan. 6 Dec. 11 to Jan. 1
Texas Company (quar.)
131 Dec. 31 Holders of rec. 1)ec.13a
Torrington Company, preferred
334 Jan. 2 Dec. 25 to Jan. 1
Underwood Typewriter, common (quar.)
1
Jan. 1 Holders of rec. 1)ec.204
Preferred (quar.)
13-4 Jan. 1 Holders of rec. Dec.20a
214 Jan. 1 Holders of rec. Dec. 20
Union Carbide (quar.)
Union Natural Gas Corp. (guar.)(No. 38). 231 Jan. 15 Jan. 1 to Jan. 15
Union Switch & Signal, common (quar.)_ _ 3
Jan, 10 Holders of rec. Dec. 31
Common (payable in common stock)_ _ _ 10n Jan. 10 Holders of rec. Dee. 31
Preferred (quar.)
3
Jan. 10 Holders of rec. Dec. 31
Preferred (payable in common stock)._ _ 10n Jan. 10 Holders of rec. Dec. 31
Union Typewriter, first preferred (quar.)_
134 Jan. 2 Holders of ree. Dee. 20
Second preferred (quar.)
Jan, 2 Holders of rec. Dec. 20
2
United Dry Goods Cos,, corn.(guar.)
2
Feb. 1 Holders of rec. Jan.
United Fruit (goar.) (No. 54)
2
Jan. 15 Holders of rec. Dec.24a
United Gas & Electric Co., preferred
231 Jan. 15 Jan. 1 to Jan. 14
United Gas Improvement (quar.)
31 Jan. 15 Holders of rec. Dec. 31
United Shoe Machinery, common (quar.). 50 eta. Jan. 4 Holders of rec. Dec. 21
Preferred (quar.)
37%c. Jan. 4 Holders of rec. Dee. 21
U.S. Finishing, pref. (quar.)(No. 54).
134 Jan. 1 Holders of rec. Dee. 21
U. S. Industrial Alcohol, preferred (guar.). 134 Jan. 16 Holders of rec. Jan. 8a
U. S. Light & Healing, preferred
331 Jan. 311Holders of rec. Jan. 11
U. S. Printing Co. of N. J., corn. (quar.).
134 Jan. 2,Dec. 21 to Jan. 21
U. S. Printing of Ohio (guar.)
1.4375 Jan. 2!Dec. 21 to Jan. 2
U. S. Smelting, Ref. & Min., coin. (guar.) 131 Jan. 15TioIders of rec. Dec. 31
Preferred ((lust.)
134 Jan. 15 Holders of rec. Dec. 31
U.S. Steel Corp., common (guar.)(No.36) 134 Dec. 30 Dec. 3 to Dec. 8
134 Jan. 2 Dec. 22
United Utilities. pref. (quar.) (No. 8)-.._
to Jan. 2
Utah Copper (quar.)(No. 18)
The. Dec. 31 Dec. 7 to Dec. 11
.
Utah Gas & Coke, preferred (guar.)
134 Jan. 2 Dec. 21 to Jan. 1
Virginia-Carolina Chem., pref.(go.)(No.69) 2
Jan. 15 Jan. 1 to Jan. 15
Vulcan Detinning, preferred (guar.)
134 Jan. 20 Holders of rec. Jan. 10
Waltham Watch, common
Jan. 1 Holders of rec. Dec. 16
1
Welemeh Company, preferred
331 Dec. 31f Holders of rec. Dec. 24
Western Electric (quar.)
Dec. 31 Holders of rec. Dec.24a
2
Extra
Dec. 31 Holders of rec. Dec.24a
2
Western Union Telegraph (quar,)
Jan. 15 Holders of rec. 1)ee.20a
Westinghouse Air Brake (guar.)
2
Jan. 15 Holders of rec. Dec.31a
Extra
Jan. 15 Holders of rec. DecJila
2
Westinghouse Elec. & Mfg., corn. (guar.) 1
Jan. 30 Holders of rec. Dec.31a
Preferred (quar.)
13-4 Jan. 15 Holders of rec. Dec.314
Weyman-Bruton, common (guar.)
234 Jan. 2 Holders of rec. Dee.14a
Preferred (quar.)
134 Jan. 2 Holders of rec. Dec.14a
Willys-Overland Co., pref. (quar.) (No. 1)_
134 Jan. 1 Holders of rec. Dec. 23
Woolworth(F. W.), pref. (guar.)(No. 4)_
13-4 Jan. 1 Holders of rec. Dec.10a
Young (J. S.) Co., common (quar.)
234 Jan. 10 dJan. 1 to Jan. 5
Preferred (quar.)
134 Jan, 10 Jan. 1 to Jan. 5
Yukon Gold Co.(guar.)(No. 14)
734c. Dec.'31 Dec. 14 to Dec. 17
a Transfer books not closed for this dividend. b Less income tax. d Correction.
e Transfers received in London up to Dec. 27 1912 vent be in time for payment of
dividend. f On account of accumulated dividends. h Payable in common stock at
par. k Payable in stock. 1 At rate of 6% per annum for period from Sept. 1 to
Dec. 311912. m Payable about Jan. 6 1913. n Payable in common stock.
131
134
131
131
7
1
134
1
24
54
Auction Sales.
-Among other securities, the following,
not usually dealt in at the Stock Exchange,were recently sold at
auction in New York, Boston and Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York:
Shares.
Per cent.
160
25 Ninth Ave. RR Co
25 Chris. & 10th St. lilt. Co_ _13131
100 Mfrs.' Nat.Bk.,13klyn,ex-div 416
100 Union Typewriter Co., corn_ 3434
9,735 Santo Domingo Mining Co.
of Del., common, 31 each_55 lot
102 Society of Agrioal.& Horticul.
of Westchester Co., N. Y..
$10 each
$3,520 lot
Bonds,
Per cent.
$500 Chain. of Corn., N. Y., Bldg.
fund subscrip. income
20
$50,000 5th Ave. Invest. & Impt.
Co. 65 of 1899
5100 lot
550,000 5th Ave. Invest. Sr Impt.
Co. 6s, 1929
5100 lot
$100,000 Improved Prop. Hold. Co.
of N. Y. 6s, 1941
$10 lot
By Messrs. Francis Henshaw & Co., Boston:
Shares.
65 Brookside Mills rights
100 Pacific Mills rights
$ per sh.
$ per sh. Shares.
4 Cambridge Securities Co
301
5
200 Waltham Watch Co., coin__ _ _ 3034
25
By Messrs. R.L. Day & Co., Boston:
Shares.
1.Lyman Mills
30 Pacifle Mills rights
66 Brookside Mille rights
$ per sh. Shares.
125
1 Fifty Associates
25-26 3 Lawrence Gas Co
11.531
$ per sh.
4100 flat
20534
[VOL. LXXXXV.
THE CHRONICLE
1728
DETAILED RETURNS OF TRUST COMPANIES.
By Messrs. Barnes & Lofland, Philadelphia:
$ per oh. Shares.
$ per oh.
S'hares.
6 Phila. Life Ins. Co., $10 each.. 10%
69
50 Hardwick Magee Co
5 Ice Mfg. Co. of Germantown,
500 Nat. 011 Co., Tampico, Mex.,
1%
350 each
$1 each
21 Diamond State Steel Co., pref.,
5 Westches. K.& Wilm. El. Ry.,
$10 each (18 shares corn.
pref. (42c. pref. scrip bonus) 1%
bonus)
$1 lot
32 West Ches. K.& Wil. El. fly.,
6 Nat. State Bank, Camden__ ....200
corn.($13.37 corn. scrip bonus) %
Bonds.
Per Cent.
20 Equit. Bond & Cert. Co., N.Y.,
3
$1,000 Buff. & Lake E. Trac. Co.
pref
48
1st ref. 5s, 1936
50 Equit. Bond & Cert. Co., N.Y.,
common
1
$11,500 Mich. Lake Sup. Co. 1st 5s,
2594-26
4 Sixth National Bank
200
1949 (cert. of deposit)
9 Farmers' & Meehan. Nat. Bk_140
$1,000 Phila. Sovereign Consistory,
32 degree S.P., R.S., 5s 1928_ _ A00
6 Nor. Liberties Gas Co.,$25 ea_ 41
10 Franklin National Bank
50094 $400 Springfield Wat. Co. 5s, 1926 96
5 Penn Nat. Bank, $5,0 each_ .....19234 $1,000 Canton-Akron fly. Co. 1st
10 Excelsior Tr.& S. F. Co.,$50 ea 60
5s, 1922
9794
3 Fire Assoc. of Phila., 350 each_340
$1,500 West Ches.K.& Wilm. Elec.
11,2 Tonopah-Goldfield RR., com_ 55
fly. Co. 1st 4945, 1935
60
20 Amer. Pipe & Construe. Co_ _ _90-91 $5,000 Ithaca-Cort. Trac. Co. 1st
2 John 13. Stetson Co., corn__ _ _4505
5s, 1934
By Messrs. Samuel T. Freeman & Co., Philadelphia:
$ per oh. 1 Bonds.
505 131,000 City of Phila, 4s. 1940
Shares.
3 Franklin National Bank
Per Cent.
101 34
Canadian Bank Clearings.
-The clearings for the week
ending Dec. 21 at Canadian cities, in comparison with the
same week of 1912, show an increase in the aggregate of
18.2%.
Week ending Dec. 21
Clearings al
1912.
1911.
Inc. or
Dec.
69,294,251
45,864,585
37,063,845
12,813,806
4,249,130
3,391,597
1,950,431
4,016,728
6,947,191
2,124,714
2,047,474
3,919,187
5,842,084
2,687,772
880,706
723,890
2,986,213
1,771,519
704,081
986,601
51,971,216
41,974,435
31,265,141
11,898,220
5,729,957
3,159,304
2,179,331
3,392,543
5,266,974
1,738,469
1,634,874
2,979,174
3,846,344
1,893,284
750,783
733,976
2,130,224
1,156,587
623,491
788,988
+33.3
+9.3
+18.5
-0.7
-25.8
+7.3
-10.5
+18.4
+14.8
+28.0
+25.3
+31.6
+51.9
+42.0
+17.3
--1.3
+40.2
+53.2
+13.0
+25.1
1910.
1909.
Trust Cos.
003 omitted.
On Dep.
Net
Surplus. Loans. Specie. Legato. withC.H. Deposits.
Average. Average. Average. Banks. Average.
Reserve.
'3
Brooklyn __ 2,440,3 16,298,0 1,402,0
466,0 1,457,0 12,288,0 15.2+10.4
16,412,4 113,846,0 12,694,0
Bankers
145,0 9,726,0 85,529,0 15.0+10.2
U.S. Mtg.&Tr. 4,569,4 38,501,0 3,894,0
476,0 3,345,0 29,130,0 15.0+10.2
Astor
1,368,6 18,607,0 2,005,0
82,0 1,358,0 13,723,0 15.0+ 8.8
Title Gu.& Tr.. 11,335,3 33,188,0 1,826,0 1,262,0 2,399,0 20,763,0 14.8+10.2
Guaranty _ _ _ _ 23,324,0 162,611,0 12,988,0 1,144,0 10,912,0 95,381,0 14.8+10.2
Fidelity
1,303,2 7,692,0
710,0
239,0
740,0 6,073,0 15.6+10.7
LawyersT.I.&T 6,394,9 16,471,0 1,241,0
480,0 1,249,0 11,125,0 15.4+10.0
Colum-Knick _ 7,192,6 47,178,0 5,114,0
810,0 4,215,0 39,396,0 15.0+ 9.6
People's
1,690,5 16,317,0 1,924,0
391,0 1,739,0 15,431,0 15.0+10.0
New York_
11,713,5 41,767,0 3,893,0
395,0 3,069,0 27,458,0 15.5+10.0
Franklin
1,281,4 9,040,0 1,030,0
835,0 8,080,0 15.1+ 9.3
193,0
Lincoln
557,2 10,126,0 1,099,0
218,0 1,010,0 8,800,0 15.0+10.3
Metropolitan _ 6,103,4 22,599,0 1,944,0
9,0 1,861,0 12,935,0 15.0+12.5
Broadway _
565,3 8,464,0
986,0
325,0
971,0 8,347,0 15.7+10.2
Totals, Avge
96,252,0 562,705,0 52,750,0 6,635,0 44,886,0 394,459,0 15.0+102
Actual figures Dec. 21. 565,787,0 53,153,0 6,294,0 43,671,01401,166,0 14.8+ 9.8
The capital of the trust companies is as follows: Brooklyn, $1,000,000
-Bankers
$10,000,000; United States Mortgage & Trust, 32,000,000; Astor, $1,250,000- Title
Guarantee & Trust, $5,000,000; Guaranty. $10,000,000; Fidelity, $1,000,000;
Lawyers' Title Insurance & Trust, $4.000,000; Columbia-Knickerbocker, $2,000,000;
People's, $1,000,000; New York, $3,000,000; Franklin, $1,000,000; Lincoln, $1.000.000: Metropolitan, $2,000,000: Broadway, $1,000,000; total, $45,250,000.
SUMMARY COVERING BOTH BANKS AND TRUST COMPANIES.
Week
ending
Capital. Surplus.
Dec. 21.
Loans.
Specie.
On Dep.
Net
Legal with C.H.
Tenders. Banks. Deposits.
$ 1
Canada
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
Calgary
St. John
London
Victoria
Edmonton
Regina
Brandon
Lethbridge
Saskatoon
Moose Jaw
Brantford
Fort William
40,850,495 45,396,358
33,424,380 26,579,740
23,490,407 20,799,463
10,109,162 7,924,243
4,096,306 3,776,479
2,973,488 2,838,498
1,598,529 1,856,043
2,189,692 1,679,020
3,682,993 2,783,865
1,513,355 1,622,414
1,397,001 1,309,350
2,588,345 1,943,026
1,961,295 1,114,313
1,236,419 1,062,425
629,681
621,292
1,013,522
Averages.
I
$
$
$
$
Banks
133,650,0201,897,51,276,427,0245,558,0 73,943,0
11,248,670,0
Trust cos.. 45,250,0, 96,252,0 562,705,0 52,750,0 6,635,0 44,886,01 394,459,0
1
Total _ _ 178,900,6298,149,61,839,132,0298,308,0 80,578,0 44,886,61,643,129,0
11
Actual.
IA
Banks _ _ _
1,273,003,0247,398,0 73,414,0
1,247,772,0
Trust cos..
565,787,6 53,153,0. 6,294,0 43,671,0 401,166,0
Total
1,838,790,6300,551,6 79,708,0 43,671,01,648,938,0
The State Banking Department also furnishes weekly
returns of the State banks and trust compnies 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
Total Canada
209,365,805 177,113,295 +18.2 133,376,302 120,685,043
following:
For definitions and rules under which the various items
Statement of New York City Clearing-House Banks
-The detailed statement below are made up, see "Chronicle," V. 86, p. 316.
and Trust Companies.
shows the condition of the New York City Clearing-House
STATE BANKS AND TRUST COMPANIES.
members for the week ending Dec. 21. The figures for the
separate banks are the averages of the daily results. In
State Banks
Trust Cos.
Trust Cos.
State Banks
outside of
in
in
outside of
the case of the totals, actual figures at the end of the week Week ended December 21.
Greater N. Y. Greater N. Y. Greater N. 1'. Greater N. Y
are also given.
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836, in the case of the Capital as of Sept. 9........ 22,325,090 62,775,000 9,458,000 9,950,000
38,321,500 172,033,200
banks, and V.92, p. 1607, in the case of the trust companies. Surplus as of Sept.9
12,471,974
12,508,781
DETAILED RETURNS OF BANKS.
We omit two ciphers (00) in all cases.
Banks.
00s omitted.
Capital. Surplus.
Loans.
Average.
$
2,000,0 4,257,4 21,102,0
Bank of N. Y_
Manhattan Co 2,050,0 4,835,2 28,150,0
2,000,0 2,084,4 17,487,0
Merchants'_ _ _
Mech.&Metals 6,000,0 8,663,0 50,341,0
1,500,0 6,260,2 22,692,0
America
25,000,0 29,142,3 163,036,0
City
3,000,0 7,231,2 28,001,0
Chemical ___ _
6,200,0
600,0
534,7
Merch. Exch.
2,132,0
300,0
128,9
Butch.& Drov.
9,040,0
500,0
949,4
Greenwich _ _ _
5,000,0 4,510,1 38,141,0
Amer. Exch
Commerce __ _ 25,000,0 16,316,8 127,686,0
4,549,0
500,0
958,8
Pacific
Chat.& Phen- 2,250,0 1,301,1 17,867,0
200,0
2,050,0
472,8
People's
3,000,0 13,740,9 69,287,0
Hanover
Citizens' Cent. 2,550,0 2,201,4 22,074,0
1,000,0
460,2 10,451,0
Nassau
1,000,0 1,897,5
8,725,0
Mark. & Fult_
2,000,0 1,725,7 14,729,0
Metropolitan _
CornExchange 3,000,0 5,753,6 47,253,0
Imp.& Traders 1,600,0 7,795,0 25,089,0
5,000,0 13,552,0 79,611,0
Park
250,0
1,539,0
70,0
East River.. _ _
5,000,0 5,874,1 28,799,0
Fourth
1,000,0 2,526,4 13,674,0
Second
10,000,0 21,940,2 107,160,0
First
4,000,0 3,225,8 34,380,0
Irving
799,2
250,0
3,675,0
Bowery
500,0 2,006,0
8,810,0
N.Y.County750,0
4,153,0
German-Amer.
711,6
Chase
5,000,0 9,672,3 85,228,0
Fifth Avenue_
100,0 2,119,4 12,896,0
German Exch_
200,0
3,389,0
830,9
Germania _ _ _ _
200,0 1,064,3
5,433,0
1,000,0 1,656,2 14,627,0
Lincoln
1,000,0 1,275,2
Garfield
8,751,0
250,0
525,6
3,502,0
Fifth
1,000,0 2,182,4 12,533,0
Metropolis
200,0 1,023,0
4,278,0
West Side_ _
1,000,0 2,277,7 24,933,0
Seaboard
1,000,0 2,790,2 20,449,0
Liberty
9,044,0
895,2
N.Y.Prod.Ex- 1,000,0
607,9 17,977,0
1,000,0
State
416,1 11,960,0
1,000,0
Security
6,666,0
Coal & Iron
534,1
1,000,0
9,499,0
Union Exch
1,000,0 1,006,1
7,379,0
Nassau, 13klyn
1,000,0 1,100,7
Specie. Legato. Net Depos! ReAverage. Average. its, Aver. serve
' '
1%
$
$
3,949,0 1,034,0 18,518,0 26.9
6,848,0 1,548,0 31,250,0 26.5
3,601,0
823,0, 16,791,0 26.3
9,331,0 2,701,0 46,724,0 25.7
3,940,0 1,580,01 21,411,0 25.7
31.770,0 5,793,0 148,227,0 25.4
4,395,0 2,161,0 24,687,0 26.5
1,264,0
214,0
6,046,0 24.4
525,0
73,0
2,289,0 26.1
2,387,0
190,0 10,250,0 25.1
7,770,0 1,445,0 35,330,0 26.0
18,092,0 8,129,0 101,705,0 25.7
391,0
705,0
4,288,025.6
2,683,0 1,804,0 17,748,0 2.,2
498,0
150,0
2,290,0 28.2
13,934,0 5,835,0 75,731,0 26.1
4,644,0
613,0 20,431,0 25.7
1,944,0 1,127,0 11,987,0 25.6
1,283,0 1,075,0
8,581,0 27.5
3,735,0
267,0 15,804,0 25.3
8,231,0 5,739,0 55,178,0 25.3
3,776,0 1,834,0 21,933,0 25.5
18,743,0 1,644,0 80,184,0 25.4
417,0
124,0
1,850,0 29.1
6,024,0 2,066,0 28,960,0 27.9
3,090,0
181,0 12,920,0 25.3
18,807,0 4,738,0 94,697,0 24.8
6,395,0 2,826,0 34,630,0 26.6
836,0
93,0
3,857,0 24.0
1,507,0
754,0
8,832,0 25.6
259,0
789,0
3,969,0 26.4
19,340,0 4,058,0 93,059,0 25.1
2,367,0 1,334,0 14,517,0 25.4
382,0
573,0
3,727,0 25.6
255,0
1,384,0
6,359,0 25.7
771,0 14,814,0 25.0
2,919,0
460,0
1,897,0
8,903,0 28.4
382,0
573.0
3,737,0 25.5
1,176,0 1,768,0 12,208,0 24.1
829,0
310,0
4,731,0 24.0
4,466,0 2,409,0 28,464,0 24.1
4,341,0 1,029,0 21,496,0 25.0
2,200,0
380,0 10,381,0 24.8
5,316,0
379,0 22,805,0 25.0
2,213,0 1,320,0 14,251,0 24.7
1,257,0
370,0
6,562,0 24.8
2,048,0
353,0
9,549,0 25.1
1,246,0
267,0
6,031,0 25.0
Totals, Avge__ 133,650,0 201,897,6 1276,427,0 245,558,0 73,943,01 1248,670,0 25.5
Actual figures Dec; 21_ ;
1273,003,0 247,398,0 73,414,0 1247 772, 25.7
0
-On the basis of averages, circulation of nat onal banks in the Clearing
Circulation.
House amounted to $46,994,000, and according to actual figures was $47,017,000.
Loans and investments
Change from last week..
Specie
Change from last week_
Legal-tender & bk. notes_
Change from last week..
Deposits
Change from last week..
Reserve on deposits
Change from last week_
P. C. reserve to deposits_
Precentage last week__
291,155,600 1,051,092,400
-377,500 -9,374,000
1
52,062,500 105,148,500
-661,800
+555,400
1
20,907,700, 10,538,400
-207,700
-829,400
1
330,876,400 1,079,397,500
115,893,600
+31,100
175,025,700
-1,883,600
121,415,500
170,837,800
-5,492,000
122,301,700
-889,800
-592,000
21,785,500
-828,700
-817,900
20,812,600
+315,800
-278,200
86,764,600
-163,300
27.0%
27.1%
10.2%
16.2%
19.2%
19.7%
12.6%
12.4%
+ Increase over last week. - Decrease from last week.
Note.
-"Surplus" includes all undivided profits. "Reserve on deposits" includes
for both trust companies and State banks, not only cash items but amountsdue
from reserve agents. Trust companies in New York State are required by law to
keep a reserve proportionate to their deposits, the ratio varying according to location as shown below. The percentage of reserve required is computed 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 thirty dyes
represented by certificates, and also exclusive of deposits secured by bonds o
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held in trust gor it by any publicdePartment.
The State banks are likewise required to keep a reserve varying according to location, the reserve being computed on the whole amount of deposits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910), and exclusive of deposits secured (according to amendment of 1911) by bonds or obligations of the City or State of New York, and exclusive of an amount equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the company or held in trust
for it by any public department.
-Trust Cos.- -State Banks
Total
Reserve Required for Trust Companies
Of
Tdtal
Of
and State Banks.
Reserve which Reserve which
LocationRequired. in Cash. Required. in Cash.
Manhattan Borough
25%
15%
15%
15%
10%
Brooklyn Borough (without branches in Manhat.)15%
20%
10%
794%
Other Boroughs(without branches in Manhattan)15%
10%
15%
20%
20%
Brooklyn Borough, with branches in Manhattan _15%
15%
15%
15%
Other Boroughs, with branches in Manhattan..._15%
15%
Cities of the first and second class
10%
Cities of the third class and villagot
10%
Elsewhere in State
The Banking Department also undertakes to present separate figures indicating the totals for the State Banks and
trust companies in Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the re ults (both actual and average) for the Clearing
DEO. 28 1912.]
THE CHRONICLE
1729
Boston and Philadelphia Banks.
House banks and trust companies. In addition, we have
-Below is a summary
combined each corresponding item in the two statements, of the weekly totals of the Clearing-House banks ofBoston
and Philadelphia:
thus af ording an aggregate for the whole of the banks and
We omit two ciphers (00) in all these figures.
trust companies in the Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House Clear -House Slate Banks & Total of all
Members.
Week ended Dec. 21
.111embers
. Trust Cos. Not Banks&Trust
-H. Aver. Cos. Average.
ActualFigures
Average. in C.
$
Capital rat. Banks I
Nov. 26 and
Surplus State banks
Sept.9
Capital
and
Surplus,
Banks.
178,900,000
178,900,000
29,025,000
207,925,000
298,149,600
298,149,600
80,906,900
379,056,500
Loans and investments 1,838,790,000 1,839,132,000
Change from last week
-635,000 -3,930,000
566,192,800 2,405,324,800
-6,130,500 -10,060,500
Deposits
1,648,938,000 1,643,129,000
+1,682,000
Change from last week +7,849,000
a559,965,300 2,203,094,300
-5,983,100 -4,301,100
Specie
Change from last week
300,551,000
+4,025,000
298,308,000
+4,064,000
60,752,900
-445,200
359,060,900
+3,618,800
Legal-tenders
Change from last week
79,708,000
-2,873,000
80,578,000
-1,470,000
b8,133,300
-194,700
88,711,300
-1,664,700
Banks: cash in vault
Ratio to deposits..
320,812,000
25.71%
319,501,000
25.58%
12,578,500
14.35%
332,079,500
Trust cos.; cash in vault
59,447,000
59,385,000
56,307,700
115,692,700
Aggr'te money holdings
Change from last week
380,259,000
+1,152,000
378,886,000
+2,594,000
68,886,200
-639,900
447,772,200
+1,954,100
Money on deposit with
other bks.& trust cos_
Change from last week
43,671,000
-2,309,000
44,886,000
-350,000
14,832,700
+308,200
423,030,000
-1,157,000
423,772,000
+2,244,000
83,718,900
-331,700
507,490,900
+1,912,300
Surplus CASH reserve
Banks (above 25%)._
Trust cos.(above15%)
8,869,000
def.727,900
7,333,500
216,150
Total
Change from last week
8,141,100
+66,450
7,549,650
+2,084,200
Total
25.26%
24.62%
15.33%
1.11%
16.44%
89,430,0
86,477,0
88,961,0
89,562,0
87,917,0
84,770,0
82,104,0
83,713,0
3
272,366,0
268.579,0
278,186.0
270.343,0
262,616,0
260,770,0
259.458,0
250,041,0
Circu- Clearings.
lotion.
$
$
6,976,0 182,975,5
7,001,0 172.823,0
7,163,0 198,716,5
7,197,0 163,952,1
7,219,0 140,897,7
7,228,0 197,938,3
7,207,0 165,675,6
7,209,0 170,140,6
*426,799,0 15,125,0 173,550,3
*423,799,0 15,126,0 157,540,2
*423.754,0 15,135,09,674,7
*418,387,0 15,140,0 182,119,3
*414,722,0 15,164,0 144,283,5
*411 884 0 15,115,0 193,583,1
*404,416,0 15,117,0,170,649,2
*402,683,0 15,129,01 175,075,7
a Includes Government deposits and the item "due to other banks." At Boston
Government deposits amounted to $914,000 on December 21, against $944,000
on December 14.
* "Deposits" now include the item of "Exchanges for Clearing House," which
were reported on Dec. 21 as $15,212,000.
Imports and Exports for the Week.
-The following are
the imports at New York for the week ending Dec. 21; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
I
For Week,
1912.
I
1911.
83,111,4491
13,964,709
Dry goods
General merchandise
Total
Since January 1.
Dry goods
General merchandise
15.08%
10.21%
Specie. Legals. Deposits.
a
103,684,3 386,035,0
103,684,3 385,576,0
103,684,3 381,498,0
103,684,3 375,884,0
103,684,3 374,148,0
103,684,3 374,982,0
103,684,3 370,888,0
103,684,3 365,311,0
$3,253,803
14,828,0671
1910.
1909.
$3,990,421
14,073,721
$3,657,153
13,896,244
$17,076,158 $18,081,870 $18,064,142 $17,553,402
$150,639,636 $139,427,117,5155,986,672 $167,163,680
848,087,466 727,284,810; 735,467,057 705,042,313
8998,727,102 $866,711,927 $891,453,729 $872,205,993
Total 51 weeks
% of cash reserves of tr ust cos
Cash in vault
14.81%
Cash on dep.with bks.
9.81%
Loans.
$
$
3
$
60,735,4 226,518,0 23,777,0 4,162,0
60,735,4 228,451,0 23,209,04,253,0
60,735,4 226,297,0 24,442,0 4,270,0
60,735,4 225,952,0 24,846,0 4.090,0
60,735,4 226,085,0 22,911,0 4,065,0
60,735,4 224,283,0 21,132.0 3,939,0
60,735,4 220,514,0 23,595,0 4.225,0
60,735,4 216,489,0 22,983,0 4,246,0
69,718,700
--41,800
Total reserve
Change from last week
Boston.
Nov. 2
Nov. 9
Nov. 16
Nov. 23
Nov. 30
Dec. 7
Dec. 14
Dec. 21
Philadelphia
Nov. 2
Nov. 9
Nov. 16
Nov. 23
Nov. 30
Dec. 7
Dec. /4
Dec. 21
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. 21 and from Jan. 1 to date:
+ Increase over last week. -Decrease from last week.
EXPORTS FROM NEW YORK.
a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City"; with this item included,
deposits amounted to $610,948,600, a decrease cf 52,752.000 from last week. In
the case of tile Clearing-House members,the deposits are "legal net deposits" both
for the average and the actual figures. b Includes bank notes.
1912.
For the week
Previously reported
1911.
1909.
1910.
$26,376,455 $22,240,550 39,200,948 $11,230,288
812,949,305 754,967,151 667,617,173 608,124,862
The averages of the New York City Clearing-House banks
Total 51 weeks
8839,325,760 5777,207,701 8676,818,121 $619,355.150
and trust companies,combined with those for the State banks
The following table shows the exports and imports of
and trust companies in Greater New York outside of the
of New York
Clearing House,compare as follows for a series of weeks past: specie at the port1912, aml for for the week ending Dec. 21
and since Jan. 1
the corresponding periods in
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
1911 and 1910:
GREATER NEW YORK.
We omit two ciphers en all these figures.
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Loans and
Week Ended
- Investments Deposits.
$
Oct. 19
Oct. 26
Nov. 2
Nov. 9
Nov. 16
Nov. 23
Nov.30
Dec. 7
Dec. 14
Dec. 21
$
Specie.
I 390,217,5
$
2,530,437,1 2.371,614,1
2,534,880,0 2,372,940,0 385,208,1
2,515,054,6 2,335,724,8 378,728.8
2,496,735,712,308,801,0 375,777.2
2,493,836,12,303,144,9 374,309,5
2,480,706,3:2,290,470,8 372,417.8
2,476,317,02,275,323,6 362,459,9
2,442,755,012,234,183,1 360,720,8
2,415,385,312,207,395,4,355,442,1
2,405,324,82,203,094,3 359,060,9
90,192,1 480,409,6 551,409,5
90,701,4 475,909,5 543,007,5
91,511,3 470,240,1 536,079,5
87,858,7 463.635,9 528,052,6
89,412,7 463,722,2 526,523,9
90.306,0 462,723,8 524,960,0
89,878,4 452,338,31512,730,2
89,886,6 450,607,41 510,675,8
9 ,376,0445,818,1505,578,6
0
88,711,3 447,772,2 507,490,9
Reports of Clearing Non-Member Banks.
-The following is the statement of condition of the clearing non-member
banks for week ending Dec.21, based on average daily results:
We omit two ciphers (00) in all these figures.
Banks.
Capital.
Surplus,
Loans,
Legal
On
Disc'ts
Tender Deposit
and
Specte. and
with
Net
InvestBank
C.
-H. Deposits
talents.
Notes. Banks.
New York City.
Manhattan and Bronx.
543,2 3,009,0 615,0
500,0
Aetna National
336,0 1,474.0 161,0
Washington Heights_ 100,0
119,5 1,580,0 327,0
Battery Park Nat--- 200,0
515,5 6,372,0 676,0
Century
500,0
649,4 6,620,0 869,0
Colonial
400,0
Columbia
787,4 6,610,0 652,0
300,0
86,0
Fidelity
168,9 1,147,0
200,0
Mount Morris
337,4 2,444,0 417,0
250,0
Mutual
411,0 4,906,0 520,0
200,0
New Netherland
200,0
281,4 3,039,0 332,0
Twenty-third Ward_ _ 200,0
96,0 1,995,0 247,0
Yorkville
100,0
515,8 4,412,0 584,0
Brooklyn.
First National
300,0
689,6 3,750,0 296,0
Manufacturers' Nat
252,0
912,8 6,135,0 618,0
Mechanics'
1,000,0
765,7 10,782,0 1,468,0
300,0
National City
576,6 4,267,0 542,0
200,0
174,5 2,247,0 203,0
North Side
Jersey City.
400,0 1,335,3 4,997,0 297,0
First National
Hudson County Nat. 250,0
813,6 3,236,0 156,0
200,0
ThirdNational
420,8 2,409,0 109,0
Hoboken.
First National
220,0
665,0 4,240,0 202,0
Seond National
125,0
297,7 3,246,0 188,0
67,0
89,0
70,0
331,0
407,0
567,0
114,0
44,0
325,0
110,0
99,0
232,0
126,0
171,0
116,0
635,0
834,0
772,0
130,0
358,0
334,0
109,0
250,0
509,0
2,675,0
1,236,0
1,680,0
7,385,0
6,891,0
7,515,0
1,116,0
2,717,0
4,974,0
2,669,0
2,171,0
4,836,0
101,0
423,0 2,874,0
250,0
467,0 5,697,0
485,0 1,481,0 12,888,0
120,0
619,0 4,217,0
87,0
237,0 2,240,0
328,0 1,266,0
75,0
388,0
132,0
536,0
26,0
47,0
Week.
Since Jan.1
Week,
Since Jan.1
$1,790,420 $9,811,521
$20,146,222
3,860 2,540,143
15
486,650
489,219
2,909,133
25,002
591,055
279,952 13,767,675
10,207,612
203,662 3,846,462
53,483
16,424 1,807,843
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$33,316,465 $2,805,970 $32,853,918
32,833 14,880,100
$176,077 10,284,927
253,661 22,485,580
12,700 45,444,948
Total 1912
Total 1011
Total 1910'
Silver,
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$1,663,332 $49,023,860
6,941,928
$730
165,027
83,177
12,923
298,572
25,349
709,590
200
Total 1912
Total 1911
Total 1910
$1,663,532 $56,999,299
1.152,846 19,566,328
828,613 42,454,202
$118,649
8,594
21,007
49,095
4,950,478
3,023,887
1,588,901
$261,857 $9,760,609
86,292 6,802,658
123,948 4,879,980
Of the above imports for the week in 1912, $25,241 were
American gold coin and $1,172 American silver coin.
panting and Financial.
Railroad and Industrial Stocks
Write for our Circular No. 614 entitled "Railroad and Industrial
Stocks," which describes 124 issues listed on the New York Stock
Exchange, and classified by us as follows: Investment Stocks, SemiInvestment Stocks. Speculative Stocks.
Spencer Trask & Co.
-NEW YORK.
43 EXCHANGE PLACE
Chicago. III. Boston, Mass. Albany, N. Y.
"embers New York Stock Exchange.
5,187,0
1,387,0
1,447,0
367,0 1,694,0
317,0 1,384,0
Totals Dec. 2E _ 6,597,0 11,333,1 88,917,0 9,565,0 4,106,0 10,445,0 84,880,0
Totals Dec. 14_ _ 6,597,0 11,333,1 89,695,0 9,827,0 4,359,0 10,360,0 84,248,0
Totals Dec. 7_ ___ 6,597,0 11,236,0 90 862 0 9I522,0'4,531,0 10,750,0 85,527,0
I
Imports.
Gold.
Totafoney EntireRes.
Legals. Holdings. onDeposit
White, Weld & Co.
Bonds and Investment Securities.
14 WALL STREET
NEW YORK
THE ROOKERY
111 DEVONSHIRE STREET
CHICAGO
BOSTON
THE CHRONICLE
i -730
Domestic Exchange.--Chleago, 35c. per $1,000 premium. Boston.
pat. Sc. Louis, 30e. per $1,000 premium bid and 35e. asked. San Francisco, 50c. per $1,000 premium. St. Paul, 00c. per $1,000 premium.
Montreal, 3134e. ptemium.
ankers' Gazette.
Wall Street, Friday Night, Dec. 27 1912.
The Money Market and Financial Situation.-Various
circumstances have combined to make the volume of business
at the Stook Exchange the smallest throughout the week
for any season in recent years. It will be recalled that the
transactions steadily diminished last week and this movement has continued in force. The storm on Tuesday kept
many operators away from the financial district and the
holiday was, of course, a distracting influence. In addition
to this the money market has, as was expected, shown a
hardening tendency and thereby restricted Stock Exchange
trading. There has been, moreover,very small inducement
from any source for active operations on either side of the
market. Frequently at this time of year there is an
investment demand for securities in anticipation of the usual
year-end disbursements, which now seem wholly lacking.
Existing conditions are due in part if not chiefly to the
political situation and outlook. A change of the party
in power always, as is well known, causes more or less disturbance in the business world, but next year as the legislative as well as the executive department of the Government
will be completely under control of the Democratic Party,
the possibilities of the future are more problematical than
usual.
With the certainty that tariff revision will be immediately
undertaken by the new administration and uncertainty as
to what action may be taken in an attempt to regulate the
so-called trusts, or larger business interests of the country,is
it any wonder that capitalists and investors hesitate to
put money into securities which may be adversely affected
by such legislation?
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1%@12%. To-day's rates on call were 1%@12%.
Commercial paper quoted 6% for 60 to 90
-day endorsements and for prime 4 to 6 months' single names and 63/2%
for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £2,145,330 and the percentage of reserve to liabilities was 37.90, against 42.98 last week.
The rate of discount remains unchanged at 5%, as fixed
Oct. 17. The Bank of France shows an increase of 20,000
francs gold and a decrease of 1,479,000 francs silver.
NEW YORK CLEARING-HOUSE BANKS.
(Not Including Trust Companies.)
1912.
Averages for
week ending
Dec. 21.
Capital
Surplus
Loans and discounts_
Circulation
Net deposits
Specie
Legal tenders
Reserve held
25% of deposits
, 0,1
Surplus reserve
Differences
from
previous week.
$
133,650,000
201,897,600
1,276,427,000 Dec.
46,994,000 Inc.
1,248,670,000 Inc.
245,558,000 Inc.
73,943,000 Dec.
I
319,501,000 Inc.
312,167,500'Ina.
1911.
Averages for
week ending
Dec. 23.
1910.
Averages for
week ending
Dec. 24.
$
135,150,000 133,350,000
197,808,700 196,577,100
363,000 1,309,058,000 1,223,743,200
95,000
51,020,000
48,378,400
2,575,000 1,303,257,000 1,189,066,600
4,450,000 260,260,000 239,495,000
1,318,000
76,380,000
67,839,600
3,132,000
643,750
336,640,000
325,814,250
307,334,600
297,266,650
7,333,500 Inc. 2,488,250
I
10,825,750
10,067,950
Note.
-The Clearing House now issues a statement weekly, showing the actual
condition of the banks on Saturday morning, as well as the above averages. The
figures, together with the returns of the separate banks and trust companies, also
the summary issued by the State Banking Department, giving the condition of State
banks and trust companies not reporting to the Clearing House, appear on the second
page preceding.
Foreign Exchange.
-Sterling exchange ruled weak and
was under severe pressure all week, chiefly as a result of the
high rates for call money at this centre. At the extreme close
there was a moderate recovery,due to the sudden reduction
In call rates here and the covering of short commitments.
To-day's (Friday's) nominal rates for sterling exchange were 4 81 ki for
60-dayfand 4 85% for sight. To-day's actual rates for sterling exchange
,
were 4 80550.14 8065 for 60 days, 4 84650)4 8175 for cheques and 4 85800
4 8590 for cables. Commercial on banks 4 78404 80% and documents
for payment 4 80s,4 81'4. Cotton for payment 4 8064 80'4 and grain
for payment 4 80%04 80%.
The posted rates for sterling, as quoted by a representative house, advanced.on Monday from 4 81 to 4 81% for 60 days, and on Thursday were
further advanced to 4 82, while on Friday a reaction to 4 813- took place.
The sight rate on Friday declined to 4 55Li from 4 86.
To-day's (Friday's) actual rates for Paris bankers' franca were 8 22%0
5 22% plus 1-16 for long and 5 18 1.4 less 1-3205 1534 for short. Germany
bankers' marks were 94 1-16094.4 for long and 94 13-1609434 less 1-32
for short. Amsterdam bankers' guilders were 40 120.40 14 for short.
Exchange at Paris on London, 25f. He.; week's range, 25f. 1834e. high
and 25f. 1334c. low. Ex&-tange at Berlin on London, 20m. 4134pf.; week's
range, 20m. 43, 4 pf. high and 20m. 41o1. low.
,
,i
The range for foreign exchange for the week follows:
Sterling, ActualSi.ety Days.
Cheques.
Cables.
IIIgh for the week_ _ _ 1 8120
4 8570
4 8635
Low for the week__ .4 8055
4 8460
4 8575
Paris Bankers' Francs
high for the week_ _ _5 213,i less 1-16 b 1834 plus 1-32 5 163-4 less 116
Low for the week___5 224 lass 1-32 3 1834 less 1-16 5 1734 less 1-16
Germany Bankers' .farksHigh for the week.. 9414
9534 less 1-32 9534 plus 1-32
Low for the week_ __ 94
94 13-10 less 1-32 4w,4 5 3-16
9
Amsterdam Bunkers' Guilders- ::+.9 15-16
High for the week__
.10 3-16
ow_fot the week.__ 39:1
401-1
403-16
;
Lxxxxv.
State and Railroad Bonds.
-Sales of State bonds at
the Board are limited to $1,000 Virginia 6s deferred trust
receipts at 533/2.
The market for railway and industrial bonds has again
been exceptionally dull, notwithstanding a demand for the
local traction issues which resulted in an advance of over 3
points in Brooklyn Rapid Transit ref. cony. 4s, of 1% points
in Interboro-Metropolitan 4%s and a fractional advance in
Third Avenue and New York Railways issues. Union
Pacific cony. 4s declined a point in sympathy with the shares.
Other changes are unimportant.
United States Bonds.
-Sales of Government bonds at
the Board include $10,000 4s coup at 113%, $20,000 2s
coup. at 101% to 1013/2 and $30,000 2s reg. at 1013. For
to-day's prices of all the different issues and for yearly range
see third pagefollowing,
Railroad and Miscellaneous Stocks.
-The chief characteristic of the stock market has been, as noted above, its
extreme dulness. On Thursday the transactions aggregated
only 102,585 shares, the smallest day's business since
July 1911. As usual under such conditions, fluctuations
have been narrow and net changes are generally to a lower
level. There are, however,a few notable exceptions, and in
only a limited number of cases have the lowest quotations
been maintained. Among the former are the local traction
issues, which have advanced day by day. Brooklyn Rapid
Transit is up 33/2 points, Third Avenue over 3 and InterMet. preferred 2 points. On the other hand Reading has
declined 2% points, Southern Pacific nearly 2, and Union
Pacific 1%.
Of the industrial list, Beet Sugar has been the weak feature,
especially to-day, imd closes with a net loss of over 5 points.
/
U. S. Rubber has declined 43s and American Tobacco nearly
as much. U. S. Steel has lost only Y of a point.
i
For daily volume of business see page 1740.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Dec. 27.
Sales
for
Week.
Range for Week.
Lowest.
Highest.
Range since Jan. 1.
Lowest.
701 15-4 Dec 23 134 Dec 27 1
AilLs-Chal Ms 2d paid _ _
Pref rcts 2d paid _
1,100 41 ( Dec 23 5 Dec 26 474
Am Brake Shoe Sr Fdy_ _
200 93% Dec 27 9774 Dec 21 9134
Preferred
100135% Dec 21135% Dec 21 130
Rights
400
% Dec 27 ry Dec 23
s
%
100170 Dee 26170 Dec 26 170
American Express
200 334 Dec 21 334 Dec 23 33-4
At! Coast Line rights_ _ _
150 8 Dec 21 8 Dec 21 734
Brunswick Terminal__ _
100 85 Dec 24 65 Dec 24 65
Canada Southern
Canadian Pacific rights_ 2,240, 1934 Dec 21 1934 Dec 21 1834
7001 9934 Dec 27 9934 Dec 26 993-4
Deere & Co., pref
300 73 Dec 23 74 Dec 23 6334
Detroit United
2195 Dec 21195 Dec 21 128
General Chemical
Great Nor, pref rights_ _ 7,6831 234 Dec 232 9-16 Dec 23 234
a 14 Dec 21 15 Dec 27 1034
Green Bay & W deb B.
Homestake Mining
35110 Dec 27410 Dec 27 8034
2501 91
Int Agric Corp, pref v t c
Dec 21 92 Dec 26 89
Long Island
100, 45 Dec 24 45 Dec 24 435.4
Mexican Petroleum, pref
16, 9934 Dec 27 9934 Dec 27, 99
NY Chic & St Louis__
Ha 58 Dec 21 58 Dec 21 53
Pabst Brewing, Profloam% Dec 2410634 Dec 21 10634
Peoria & Eastern
200 13 Dec 24 13 Dec 21 1234
Quicksilver Mining
601 4 Dec 24 4 Dec II 3
St L & S F & E Ill pfd
-C
stock trust ctfs
10040034 Dec 2610034 Dec 20 10034
200 9934 Dec 24 997-4 Dec 26 97
United Dry Goods
100 9634 Dec 27 91354 Dec 27 95
U 5 Indus Alcohol, pref.
1001 134 Dec 26 194 Dec 26 13-4
U 8 Reduc & Refg
Preferred
1001 4 Dec 23 4 Dec 23 3
Wells, Fargo & Co
1621 12534 Dec 23 126 Dec 23 115
West Maryland, pref.__
100: 68 Dec 23 68 Dec 23 66
Highest.
Dec 334 Oct
Dec 1034 Nov
Jan 10734 Nov
Jan 160
Sept
Dec 234 Nov
Dec 225
Apr
Dec 354 Dee
Dec 1134 May
Jan 685-4 July
Dec 21
Nov
Dec 10034 Dec
Jan 7474 July
Jan225
Aug
Dec2 9-16 Dec
Feb 18
Oct
Mch111
Dec
Dec 99 Juno
Feb 5434 June
Dee 104
Nov
Dec 6134 Apr
Dec 110
Apr
Dec 1834 Oct
Jan 834 Apr
Dec 110
Feb 10234
Jan 105
Mch 35.4
Dec 1034
Nov 151
Dec 81
Mch
July
July
May
Apr
Jan
Apr
Outside Market.-There was a dull market on the "curb"
this week, the holiday spirit curtailing business. Price
movements were without special features. Sharp advances
in a number of the Standard Oil subsidiaries furnished some
excitement. British-American Tobacco improved from
23% to 24, ex-dividend. Tobacco Products pref., after
an early gain of a point to 993., dropped to 97% and recovered finally to 983/2. United Cigar Stores corn., rose from
%
1103/2 to 1115 , moved down to 108 and sold up finally to
1093.. The pref. was traded in at 116. Emerson-Brantingham pref. gained a point to 100. Houston Oil corn. receded
from 20% to 195, advanced to 213 and rested finally at
21. Manhattan Shirt pref. declined from 1023/2 to 101%and
sold up to 1023/s, ex-dividend. Standard Oil of N. J. was
conspicuous for a rise of 24 points to 416, the close to-day
being at 414. Willys-Overland corn. moved up from 703/2
to 72 and back to 703/2, the close to-day being at 71. The
pref. advanced a point to 101 and moved down to 99, ex-dividend. Bonds were quiet. Braden Copper 6s sold tip from
208 to 210 and down to 205. The old 7s lost 3 points to 205.
Brooklyn Rapid Transit 5% notes were traded in at 963 and
the Chicago Elevated 5% notes down from 973/2 to 97 and
up to 97%. Canada Southern new . "w. i.," weakened
5s,
from 1065-i to 106 and recovered to 1063/8. N. Y. City 43s
of 1962 improved from 99 1-16 to 993, the 43s of 1960 advancing from 989 to 99 3-16. Among mining stocks,
Braden Copper rose from 103/2 to 10%, fell to 103 and ends
4
the week at 103/8. Giroux advanced from 33 to 4 1-16.
Mason Valley was off from 11 to 103/2. Nipissing ran up
from 83/2 to 93/8, the final figure to-day being 93. ,
Outside quotations will be found on page 1740.
1731
New York Stock Exchange-Stock Record, Daily, Weekly xid Yearly
OCCUPYING TWO PAGES
For record of sales during the week of stocks usually inactive. see preceding page.
STOCKS-HIGHEST AN!) LOWEST SALE PRICES.
Saturday
Dec 21
lionday
Dec 23
Tuesday
Dee.24
108 1065 10512 10614 10512 10512
8
102 102
102 10214 10212 10212
*132 133
13112 13112 *131 132
10458 10512 19412 10478 10412 1047
2
*8613 87
*8012 87
*8612 87
8812 8914 883 90
8914 9234
4
260 261341 25938 261
259 26014
*360 370 *380 370 *330 370
79
7912 7853 79
*7812 7912
17
17
*1612 173s 155 1612
8
*31
3712 *31
3234 30 4 31
3
112 11312 1113 11234 112 11212
4
*13912 14012 "139 140 513914 13914
137 137
135 4 1363, 13614 13614
,
*180 190 *180 190 *180 190
*48
52 .46
*46
52
52
•-- 95 *____ 95 *
95
1
•163 162
166 166 *- 3 166
5.5 585
680 585
580 580
202 203 *1912 22
4
*1958 22
4
3978 3978 3838 3838 *37
40
*7
812 *7
812 "7
812
*15
17
*15
17
*15
17
3112 32
313 3212 3114 32
4
4912 4978 4918 4912 49
49
3912 3912 *3834 40
*3878 40
13434 13512 13258 13412 9130 1303
4
42
4214 41
42
4012 403
4
*126 128
127 127
127 127
18
1812 18. 1814 1838 1914
013 6314 61 4 625c 6214 6412
4
,
27
27
*2512 2712 "2614 '2712
*61
621_ "5912 6212 '5912 0212
"1114 14
14
*1114 14 .11
*34
38
*31 37
35
35
17034 173
17014 172
17114 12112
141 14114 14034 141
_
*128
12912'127- 116
2312 233
4
*45 12912•,127- 4812 -:15
4.6- Taws cid130 139
139 139
*148 152 *145 151 *146 152
27
27
*20
2714 *26
27
*60
61 '60
61
*60
61
4173 4258 4112 4.2
4114 4114
*63
66
"63
66 .63
66
2738 271. *2714 2734 2714 2714
,
10834 10018 108 10812 *10734 10812
13012 13012 12918 13012 129 129
"3114 321:: 3112 3.112 313 313
8
3
*8712 8913 *8712 8958 *8712 8938
113 11314 113 113 *1124 114
•88
*8318 881s
89
80
•73
Z12038 12214 12014 1213 *120 121
4
1215, 12232 12152 12214 12184 122
"10212 104
103 103 *102 10312
*100 120 *100 120 *100 120
16718 16958 16678 16858 16678 10778
*89
91
.89
91
*89
0034
9212
94
94
9378 9378 *92
2334 2414 2312 2312 2312 2312
4312 4412 *43
44
*4212 44
18
18
*1714 1912 *1714 19
61
1,1
6012 6012 *60
61
8018 3012 2912 30
*2912 3012
3612 3612
3512 3512 *3212 3612
•73
78
*70
76
*72
78
1812 1914 183 183
4
4 19
19
4534 4534 4512 4512 *4512 48
10312 1073 10458 10614 1047 10514
8
s
2734 283 *2734 23
8
2784 277
8
80 80
80
80
8012 8012
*2212 23
2212 2212 *2212 227
8
3658 3712 3634 373
8 3714 4014
*212 6
*212 6
•____ 11
1012 1012
28
28
28
28
*102 105 *102 106 *1072T8 105
*
15914 16214 159 162
159 1593
4
92
91
9134 933 *9112 93
8
36
3618 36
36
*35
36
64
65
6414 6414 63
8312
*4
414 *4
414
414 *4
4
14
4
1133 133 "13
*123 14 4
4
,
48
4812 4712 4712 473 473
4
4
838 83
s *8
8 2 *73
,
4 84
3
28
2818 2813 2812 *27
29
*13
*1312 1412 •12
15
15
•48
*48
55
55
*48
5212
Wednesday
Dec 25
Thursday
Dec. 26.
Friday
Dec. 27.
saics
the
itteek
Shares.
STOCKS
I Range since January 1.
NEW YORK STOCK
On basts 0, 100-share Lou
EXCHANGE
Lowest.
Highest.
Range )or Previous
Year 1011.
Lowest.
Highest
Railroads
10.538 10512 10538 10512 3,550 A toll Topeka & Santa Fe 10314 Feb 1 1113 Oct 4 997 Sep 11658 J'ne
4
8
*102 10234 10212 10212
600 Am- Do pret
10138 Jan 2 10414 Feb 10 100 4 Jan 10512 hie
3
_
13112 13112
700 Atlantic Coast Line RR._ a1315, Dec 19 14812 Aug 12 117 Jan 13914 Nov
fo 13; 10134 10434 2,850 2.2althnore de Ohio
510114 Feb 1 1117 Apt 30
0312 Sep 10914 J'ly
8
I P Do prcf
.8812 87
*8)113 87
8618 Aug 13 91 Jan 23
8512 Aug
91 Jan
0214 93
9218 9278 25,050 Brooklyn Rapid Transit_
y
3
76 4 Jan 2 9412 J'ly 2
8458 J'ly
Sep
25918 260
260 260
11,265 1 lanadian Pacific
22012 Aich 4 283 Aug15 1955 Jan 247 .11V
8
*360 370 *360 370 ,
ventral of New Jersey _ 305 Jan 9 305 Apr 29 260 Aug 320 Dec
79
7914 2,200 Chesapeake Ss Ohjo
6814 Feb 1 8514 Oct 3
2
683 Sep
8634 Feb
*1614 78'144 16
834 16
3,350 Chic GI West trust ctts
16
1558 Dec 24 263 Oct 2
2514 J'ne
4
6
17 Sep
Do pret trust Ws
3012 3012 131
31
610
3012 Dec 26 3912 Apr 8
3542 Dec
4914 Feb
Chicago Milw do St Peal ._
11212 11212 112 112
6,320
99 8 J'ly 13 11738 Nov 7 10534 Oct 13312 Feb
3
1.100 chD og0rlt
*13012 140 *139 140
30
ica p a
13914 Dec 12 146 Jan 2 141 Sep 15512 Feb
*135 137
13612 13612
North Western 13418 Deo 11 145 Apr 26 13818 Sep 15012 J'ne
*180 190 *180 100
Do prof
188 Nov 9 198 Meh28 101 Nov §209 Jan
*43
Cleve On Chio & St L___
52
*46
52
4614 Dec 10 6212 Apr 23
4818 Sep
86 Jan
95 *-- 95Do prof
95 Dec 11 10112 Apr 17
9414 J'ly
98 Feb
*163 166 *163 168
dc ltudson
162 Dec 18 17512 Feb 8 15912 Sep 1747 J'ne
-i55
8
583 585
5797 5817
8
Delaware
3 2,114 1.fielaware Lack & West_ 530 Aug 23 597 Dec 18 505 Sep 570 Nov
100 Denver & Rio Grande
*1958 21
'195s 22
J'ly 12 24 :1/1/411ael::76
1812
1 1,14
1758 Dec
35 Feb
*3814 3912 *3712 3912
Do pret
200
3414 3'ne 19 4614 Jan 24
3634 Dec
74 Feb
*7
812 *7
Duluth So Shore & Atlan
812
8 Sec. 9
9 Nov
1558 Mch
Do pref
*15
14 Dec 10 23 May15
17
100
1512 1512
1718 Dec
3018 Mch
318 313
4
4 3178 3214 10,400
30 Dec 16 3918 Apr 11
2714 Jan
383 J'ly
8
49
*49
50
1st preferred__,, 4712 Dec 16 577„ April
4014 1,800
4558 Jan
6114 J'iy
*39. 40
Do 2d preferred___
*39
40
38 Dec 11 48 Apr 11
400
35 Jan
4934 hy
13012 13078 13018 13078 16,960 Great Northern pref
128 Jan 15 1433 Aug10 119 Sep 140 J'ne
4
*4014 42
Iron Ore properties
*4012 42
1,800
3.384 Dec
30 Jan 31 53 Sep 26
6334 Feb
600 I Ilinols Central
12812 12612 127 127
1205 May 9 14118 Jan 23 132 Jan 147 J'ly
8
19
1912 19
191416,750 1 nterboro-Metrop v t otts 1614 Deo 12 22 J'ly 2
1318 Sep
2032 Feb
Do pref.
5338 Jan 3 6738 Oct 15
637 6414 23,300
8
633 65
4
31134 Sep
5633 J'ly
*2518 2712 263 263
2
4
2514 Sep
4 1,000 fransas City Southern__ 221 May29 3114 Sep 30
3732..1'ne
Ix- Do
*59
6212 *59
58 May29 6532 Mch 25
preferred
6212
6112 Sep
6934 J'no
*11
ake Erie & Western__
14
1112Jan 26 18 Apr 24
*11
10 Sep
14
17 Nov
Do preferred
*381s 37
30 Jan 8 40 May2I
*31
25 Sep
37
100
40 Jan
171 17178 516614 167
30,300 Lehigh Valley
8
1557 Feb 6 18534 Jan 15 151 Seri 186 8 Dec
7
141 141
Louisville & Nashville
Dec 18 170 Aug 14 13012 Serb 16034 Nov
138
1,100
*127 130 *ill- 130M anhattan Elevated
1287 Dec 20 138 4 Mch 13 13114 Sep 14212 Jan
3
8
23
23
400 ILLinneapolls & St Louis 1812 J'11 24 2713 Jan 23
2112 Apr
,
4212 Sep
*4512 48
_
Do preferred
140 Feb 26 157 Jan 15
35 Mch
100
6812 SeP
iio" 110
1,050 Minn St P & 8 S Marie
120 Feb 3 15412 Aug 12 21243 Sep 15214 Mch
139 140
4
*148 152 *145 152
Do preferred
146 Dec 5 158 Aug 19 146 Nov 160 Alch
*23
*2614 27
27
2512 Dec 12 3158 Mch 29
27 Sep
300 210 Kansas & Texas
3818 J'ne
Do preferred
62
*60
61
61
578 May29 66 Apr 17
100
70 Oct
623 Sep
4
4078 4118 401 4114 7,600 Missouri Pacific
8
35 J'ly 12 4734 Mch27
3314 Sep
03 Feb
63
6318 .63
6612
200 Nat fly) of Alex 1st pre 6218 Oct 7 71 Jan 4
60 Aug
723 Jan
8
*2712 28
2712 2712 1,100 _
Do 2d preferred
2638 Oct 18 367 Jan 20
257 Aug
8
8
3838 Feb
10814 10814 *103 109
2,210 N Y Central & Hudson
10613 Dec 18 12112 Apr 25 :9978 Sep 11512 Feb
128 12812 1,600 N Y N /1 & Hartford
12353 129
126 Deo 11 14214 Apr 1 126% Sep 15113 Feb
*31
32
13114 3114
400 N Y Ontario 63 Western_ 297 J'ne 29 4138 Apr 12
8
3734 Sep
4678 J'ly
*8712 8958 *8212 8958
N Y State Rallways___
8312 Oct 25 9334 Apr 26
*11214 11314 11212 11212
500 Norfolk & Western
91073 Feb 1 11914 Aug 12
4
9934 Sep 11114 NoV
---- --__ 82111 881
Do adjustment pret_ 88 J'ne 12 02 Feb 17
100
,
8534 Apr
9114 J'ne
Nor Ohio Trao
56 Mcb 11 7912 Nov 30
Light
3912 Jan
5534 Nov
Iii()F8 1201- ii5r4, f2112 - ,otio Northern Paola°
-- 8
1
1153 Jan 16 13112 Aug it 11034 Sep 1-377s J'nd
3
1215, 122
12134 122
6,485 Pennsylvania
12614 May 2 11832 Sep 13018 Feb
8
1197 Dec 11
10312 10312 104 10512
910 Pittsb Cin Chlo & St L.__
981 Jan 2 11112 Sep 23
WI% Sep 100 Jan
*100 120 *100 129
Do preferred
101112 Jan 2 117 Feb 20 10218 Sep 112 Feb
1663 18712 167 16738 120,200Readln
4
14812 Jan 11 17914 Apr 29 134 Sep 18178 J'ne
*89
9034 *80
9034
1stg.preferred
8712 gm:027 9314 Apr 20
83 Mch
92 J'ly
9212 9212 92% 9212
2d preferred
800
9212 Deo 7 10112 Apr 29
9012 Sep 101 May
2312 233
8 233 233a 2,000 Rook Island Company
2
2238 Dec 9 3012 Apr 8
2234 Sep
3438 J'ne
*4211 44
Do preferred
*43
1,000
47
4334 Dec
4212 Dec 16 6958 Apr 9
6858 J'ne
*18
1912 •18
1912
100 St Louis & San Fran _ _
1I1 Dec 21 2212 Mch26
23 Dec
27 Oct
Do 1st preferred._ _
6014 6014
61
*60
300
6014 Nov27 6912 Jan 23
50 Sep
8914 J'ly
Do 2d preferred
2914 3i)
4
283 2914 1,625
28 4 Dec 27 4334 Apr 11
3
37 Sep
4912 hy
300 St Louis Southwestern
*3212 3612 *3212 3012
4
293 Jan 22 4038 Oct 4
24 Jan
34 Feb
Do preferred
70
76 •72
*71
6812 Jan 17 8032 Oct 4
5934 Jan
72 J'uo
1912 1,000 Seaboard Air Line
*1814 1914 *18
18 Dec 12 2712 Apr 4
451k 4534
Do preferred
*4514 46
500
4434 Dec 12 5612 J'ne 7
32,600 Southern Pacific Co
101% 10514 105 106
10312 Dec 21 11512 Apr 8 10412 Sep 12638 J'ne
2778 28
28
23
2434 Sep
3,200 Southern v tr etts stmpd. 2012Jan 31 32 Sep 30
3338 J'iy
705
Do prof
80
80
80
SO
0814 Feb 4 867 Oct 2
do
8
6114 Jan
7514 3 17
,
*2212 22% *22% 22%
201 Jan 3 2612 Nov 7
100 Texas & Pacific
1978 Dec
3014 Feb
3934 41% 39% 4034 28,360 A bird Ave New
3312 Dec 10 4934 Jan 9
31 Nov
41 DO
.213 ____
*218 6
Toledo Railways 24 Lt___
21 Dec 9 1034 Apr 16
4 Nov
814 Jan
200 'l'oledo St L & Western._
*3
12
12
12
1012 Dec 24 1634 Mch27
12 Dec
2434 Feb
23 *25
28
*25
Do Preferred
100
28 J'ne 7 36 Apr 8
3478 Dec
537 Jan
8
Twin City Rapid Transit_ 103 Dec11 11113 Sep 17 104 Sep 111 Feb
*102 105 *103 105
159 180
15912 16012 106,600 union Pacific
15034 Dec 12 17834 Sep 30 15312 Sep 19238 J'ly
*91
93 *91% 93
Do preferred
5,720
8814 Oct 31 9612 Dec 2
80 Sep
98 J'iy
500 Unit Ills Inv't of San Fr 28 J'iy 11 3934 Dec 4
83
3812 *35
37
2812 Sep
49 Feb
Do preferred
1,800
6312 6413 *6212 64
57 J'ly Is 69% Dec 4
62 Sep
7611 Meh
*4
AA/ abash
4% *4
J'ne 19
414
934 Mayll
534 Dee
33
4
1838 Feb
013
14
Ile preferred
*1314 1414
1238 J'ne 27 2278 Apr 1
20 3 2
1414 Dec
4038 Feb
47
48
*
461 4718
800 Western Maryland Ily
45 Dec 18 6414 Nich2L
487 Apr
8
66 J'ly
•71s 8% 4.712 812
140 Wheeling Fe Lake Erie:::
4 Jan 10 1134 Oct 10
212 Sep
614 Feb
*27
30 .37
300
30
Do 1st preferred
11 Jan 8 3612 Oct 9
7 Sep
175 Feb
8
*12
35 •12
15
Do 2d preferred
6 Jan 19 1712 Oct 9
3 Aug
8 Feb
4,45
5212 *48
521g
Wisconsin Central
48 Feb 6 6212 Aug 12
48 Sep
72 May
12
Industrial&Miseellaneous
7514 7634 76
7634 99,680 A matgamated Copper.. 60 Feb 1 0234 Oct 4
4434 Sep
7158 J'ne
8413 543. 4.6.41$ 55
300 11 merAgricultural Chem
4434 Sep
5412 Dec 26 63 8 Mch22
3
8312 Dec
*98 10012
90
99
100
Do prof
98 J'iy 17 10414 Mch20
991 Oct106 Dec
5014 503
4 483 50% 11,200 American Beet Sugar...,, 463 Dec 27 77 Sep 19
4
3914 Jan
4
5934 Oct
*85
91
91
*85
Do pref
90 Nov 20 10114 J'ne 19
9212 Jan 101 Oct
3114 3114 29
807 24,900 American Can
1114 Feb 1 4738 Oct 11
1212 May
87 Jan
8
11534 116
115 11614 2,300
Do prof
9058 Feb 1 12614
77 Jan
931s Dec
551* 5512 1,300 American Car & Fotindry 49 Feb 6 6334 Sep 10
56
*55
Sep V,
4233 Sep
6814 J'ly
117 117 *11514 11912
Do prof
200
115 Feb 14 120 May24 113 Oct 120 May
*4712 4912
American Cities
8034 Oct 8 6018 Dec 3
e....- 80 *_- 80
Do preferred
7514 Aug 6 833 Dec 4
4
*55
83
*55
57
100 American Cotton Oil__
4612 Jan 19 6014 Nov18
4158 Nov
tr23 Feb
8
*96
07
098
97
Do pret
95 Jan 19 9914 Feb 13
92 Nov 10512 Feb
*5
512 *5
53
8 1,000 Amerloan Hide & Leather
3 Feb 19
714 Sep 25
:
31 Sep
5 'be
*23
27 •23
28100
Do pref
20 Feb 20 84 Sep 24
18 Sep
8
263 J'ne
19
19
019
1912
500 American Ice Securities_
18 Jan 2 3034 May20
le18 Aug
253 pi
4
*1114 12
*1114 113
4
200 American Linseed
9 Meh 6 171 Apr 23
3 Aug
123 eb
*3111 9412 *31
3214
100
Do Prof
30 Feb 20 43 Apr 23
2618 Oct
3412 Deo
.414 Ws 4214 4234 1,500 American Locomotive._ 3134 Feb 27 4712 Nov18
3212 Oct
4314 May
*105 1063 *105 197
4
Do pref
103 Jan 15 11012 Aug 14 102 Oat 1103 Melt
4
011
13
*11
15
200 American Malt Corp
434Jan 10 .191* Aug 5
3 Sep
63 Jab
8
*57
60
594 60
400
Do prof42 Jan 6 6914 Aug 14
3112 Mch
433 J'1F
2
*8311 8812 *8312 8413
Amer Smelters Seo prof B 84 Dec 9 8912 J'ne 10
82 Sep
8918 J'1Y
4
713 7214 7214 7314 13,000 Amer Smelting& Refining 6812 Deo 16 91 Sep 26
8378 J'ne
5658 Sep
*105 10612 *10434 10514
600
Do pret
10232 Jan 2 10938 Sep 26
9834 Sep 10812 J'ne
E
Erie
L
&
0
76
7778 75
2
763
4 7434 757
56
56
*54
*54
543
4
56
"98 10012 *993 10012 *93 10012
4
5134 5314 51 • 52
5014 103
4
'87
91
*87
91 '85
91
3013 3218 303 3112 803 3114
4
4
11612 117
11814 117 *115 11612
5612
55
56
5518 5518 *55
*115 11814 *115 119
1153 1153
8
8
*4712 4812 *-- 4812 *_- 4818
*77
80
80 *-- 80
*5612 5712 5634 563 *55
5612
4
•95
97
*96
97
*05
97
5
5
*5
5
512
5
*26
2812 27
*26
27
2812
187 1912 *13
2
20
*18
20
1112 1112 *1114 12
113 113
8
3
•3218 3212 321, 3218 *32
3212
43 43
4213 4312 42
42
*106 1063 "100 197 *106 1063
4
4
1278 127 "1213 13
8
1212 121s
593 593 '57
4
4
*57
60
60
*8312 8412 "833 8513 *8312 8513
4
7218 7412 7134 7212 7178 7218
1047 105
8
1043 10514 *10434 10514
4
______
___-
BANKS AND TRUST COMPANIES
-BROKERS' QUOTATIONS.
Banks
New York
Aetna
America L
kmer Exch
Battery Pk_
Bowery¶..,
Bronx BoroT
Broax Nat_
3ryant Pk 1
Butch 43 1),.
Deatury ¶
()hue
lita
Ask
200
000
23212
125
423
300
180
155
13212
220
760
210
620
237i,
130
.
---_
1
4
_
J411
230
790
Banks
Bid
Chat&Phoutx 182
Chelsea EAT
Chemical ..440
Citizens* 06 198
City
415
Coal 6 Iron 15712
/
Colonial 11._ 425
Columbia 11, 330
Commerce. 197
Corn Ex 11_ 317
East Silver_
85
Fidelity ii
165
Ask
186
153
450
200
425
16212
_
340
199
323
95
175
Banks
Ell Ask
Banks
Btd
Fifth Ave,, 4300
.. . 1/animal_ 290
Fink
300 326 imp Ss Traci s850
- First
1000 1025 Irving
197
Fourth __ 198 201
LibertyGutted --- 280 295 Lincoln... 615
- 370
Germ-Am 11 140
___ Manlitittai
350
Germ'n HO 400
-,.. _ klark't6sFu 260
Germania II_ 525 640
- Meeh &Met's 258
Gotham ...., 170
_ Merch Each 157
Greenwich II 250
Merchants'. 195
-_Hanover-- 700
715
Ask
310
860
201
1
60.
385
855
258
263
162
200
Banks
Metropolis 1
Metropol'n%
Mt Morriall_
Mutual Il___
Nassau __ _
.
New Neth-1
NewYorkee
New York_
Pacifiell____
Park
People's 11_
1114
350
190
200
290
215
220
875
390
255
364
240
A Oc
375
200
___
.
225
____
____
405
265
359
250
Banks
Prod Exch 1
Reserve...
.ieaboard__
iecontl ..„....
Securiygl _
ihermau_
State I-23d Wad.
011/On Sic.
WashIrts 1
West Side I
Yorkville 1.
514
16712
9312
450
375
130
135
240
175
180
275
575
890
Ask
17
2111
......
.....
400 ,
140
....!...
255
170
..,.,.
..„.2.
635
610
-A
*
• Bid an1 asked prices no sales were made on this day. :Ex-ri
ghts. SLess than 100 shares. 11State banks. a Ex-d,v lend and rights. 0 New ar110010;
f Sale at Stock Exchange or at allot on this week. 8 First
installment paid. n Sold at private sale at this price. z Ex-dividend. I Full paid.
For record of sales
urine the week of stocks usually inactive see second lace nreceding.
-HIGHEST AND LOWEST SALE PRICES '
STOCKS
Saturday
Dec 21
Monday
Dec 23
Tuesday
Dec 24
Bid
First
280
Oroenpotat
HIllstde11--r
llomestoaoll
86
Manurao'rs t416
Mechanics' 1. 2.10
Montauk ¶).
9
2
7
At
155
205
180
125
100
Banks
Brooklyn
North Side
l'eonle's
Prossp'ct1 ,1
3114
Sales of
the
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January 1
-share lols.
On basis of 100
Lowest.
•
Highest
Range for Previous
Year 1911.
Lowest.
Highest.
Industrial and Misc.
(Con)
123 Arch 6 20314 Dee 4 225 Sep 325 May
1803 18934 .185 192
4
405 American Snuff
09 Feb 9 103 Aug 1.,
Do
pref. new
.101 105 *101 105
5212 Feb
25 Sep
3
Amer Steel Found (new). 20 Jan 19 443 Oct 8
*3512 3612 *35
36
12212 Feb
500 American Sugar RefinIng 11312 Deo 11 13312 May13 11214 Sep
8
*116 120
1173 11718
11012 Feb
11612 Jan 5 124 Sep 2; Ill Jan
Do pref
400
116 116
*116 120
3
2,400 American Teleph & Teieg 1375 Jan 2 14918 Meh 2.) 13112 Aug 15313 J'no
4
4
1401 1401 1403 141
24118 Feb 29 32412 Jgy 1
1,160 American Tobacco
275 280
280 ,
.275 .
10114 Jan II 10638 Jan 19
Preferred, new
603
8
1023 1027
8
103 103
3612 Mob
2513 Dec
18 Nov19 31 May17
200 American Woolen
*1913 2112 *1913 22
8514 oct
9614 J'ne
7912 Nov 10 9412 Nich 12
Do pref
250
8118 8118 17912 7912
3412 Feb
2412 Sep
2518 Jan 25 413 May 2
8
209 Amer Writing Paper, pit
32
323 *31
4
*3014
,12,000 aAnanondaCopper Par$25 $34 Feb 1 $18 Oct 2 529 Sep 34118 J'ne
3913 3012 3012 393
10513 Feb 7 12712 Oct 3 10613 Dec 108 Dee
Assets Reallzatton
8
*12314 12578 *12114 1257
49 Deo 10 603 Aug 9;
4
200 Ualdwin Locomotive
513
4
.51
52
.51
1023 feb 2 10818 J'ne 17 10314 Dee 10/ Dec
4
200 I P Do pref
*101 10114 101 101
.:6 Sep
3818 Aug
2734 eb 27 5158 Oct 2
100 Bethlehem Steel
3834 68142
000
3 4 6
391
8
6 12 683
5:2
38
8
8
54 Sep
663 J'ly
4
Do pret
5812 Feb 27 80 Sep 23
14814 Nov
Brooklyn Union Gas____ 13712 Itch 21 149 Aug12 2129 Sep
.138 142 .137 142
23 Feb
31 Mch
28 Nov26 4018 Apr Jo
Buttern Co
*2812 2912 .2878 2912
5412 5118 643 13,800 Ciallfor Petrol vot tr Ws 4914 Dec 18 7212 Set 6
4
54
z 8412 Dec 13 0512 et 5
500 k J Do pref
85
85
86
*84
997 Dec 20 10113 Dec 2
8
Case(JI)ThreshArpf tr ctfs
.9814 100
100
*9814
3333 Feb
4
183 Sep
5
1613 Feb 27 33 3 Sep 21
3
2918 2914 *287 2913 2,100 Central Leather
9113 Dec 105 Feb
Do pref
80 Feb 27 10012 Oct 17
•92
9412 *93
0412
32712 Dec
8
4
4413 443 13,135 riChIno Copper__ Par $5 $25 Jan 15 $503 Nov 8 $1612 Sep
4414 4414
3633 Feb
25 Sep
2313 Feb 28 433 Sep 26
4
500 Colorado Fuel & Iron
*3312 34
34
*33
4
14812 J'ne
4
141 141 '140 14212 2,050 Consolidated Gas (N Y)_ 1353 Dec 12 14912 Aug 12 1283 Sep
1534 May
1138 Oct
19 Jan 16 22141 Oct I!)
1458 2,100 Corn Products Refining_
14
1434
3
*137
S514 AIah
38 Ntc y
73 Sep
75 Dec 10 8012 Oct 18
Do pref
200
4
7512 753
*753 77
4
l dera 11
3,510 FestlIleCorp
2114 2112 2114 2114
30 Feb
??14
rA lrri4I Asineti
S eu et
r
*123 18
3
18
*13
6612 May
37 Dec
3718 Jan 23 52 Sep 26
420
Do pre
31
4212 *39
2
*39
156 Jan 2 18813 J'ly 25 142 Sep 1683 May
8
1833 1837
184 184
1,700 General Eleetrio
4
8
35 Nov
513 Aug
4
30 Feb 26 427 Sep 3
8
200 Gen Motors vot tz Ws
*3012 3412 32
32
8658 Aug
7413 Dee
7014 May 3 8234 Sep 3
Do pref vot tr ctfs
200
8
8
*7012 78
775 775
577 Jan
8
8
$312 Oct
1,100 dGoldfleld Con M Par ;10 $13 Dee 5 $5 Arch 18
213
218 •2
2
6014 Dec 11 81 Sep 0
975 Goodrich (B F)
63 8 6418 *6313 6512
7
105 Dec 10 10012 Sep 16
Do pref
*103 105 *103 105
5178 5178 *51
300 dGuggenh Explo_Par $25 $47 Dec 12 16238 J'ne 14
52
2,100 d 1 nspin ConCop Par 520 81653 Dec 16 $2113 Oct 10
*1712 1814
1814 1814
9913 Sep 1293 Ma;
3
7
1,767 I nternational Harvester 10514 Feb 1 126 3 Sep 1.0
111 1115
8
*11012 112
4
11312 Nov26 1213 Apr 4 115 Sep 12814 May
Do prof
120
8
115 *1133 115
1115
314 Sep
573 Jan
po ore arine stk tr ctfs
7 7 Mch 2!)
3
4 Arch 7
4 2 612
200 IntArerA rt
513 .1814
4412 10 ' 15
758
2213 Deo
14 Aug
153 J'ly 30 20 Mch 29
4
1932 May23
938 Jan 17
9 Seto
1333 Jab
1212 1278
127 127
8
8 2,100 International Paper
503 Jan
8
4453 May
x457 Jan 3 62r8 May23
8
Do prof
1,000
4912 4934 .48
50
44 Feb
23 Oct
17 Dec 10 34 Jan 2
200 Enternat Steam Pump
*19
1912
1918 1913
8458 Apr 8
0012 J'ne
8
80 Oct
725 Dec 16
Do pref
*70
200
727
73
8
*70
00 Dec 10 9534 Oct 24
ICayser & Co (Julius) ____
92
*$5
91
*85
107 Dec 12 109 Oct 21
Do 1st pref
*10512 109
10712 10313
400
•73
Sep 25 8912 Oct 2
7912 *73
100 Kresge Co (S 5)
7912
100 Oct 30 10512 Oct 2
pref
Do
.91 102
*99 102
25
5512 Sep 3o
29 Mc)]21
30 Sep
48 Api
.
48
40
100 Lackawanna Steel
48
48
4
100 Laclede) Gas (St L) corn_ 10218 Deo 20 1083 Jan 4 10114 Sep 1141. Jan
*102 10312 1027 1027
8
8
8
*200 214 *208 214
200 Liggett & Myers Tobacco 1507 Jan 15 225 Oct 18
10512Jan 12 118 Aug 29
Do _preferred
*110 115 *110 115
My Dec 12 4713 'Ply 26
800 Loose-Wiles Bis tr co ctfs
3914
39
3
*3812 397
10212 Oct 7 10538 Nov16
Do 1st pret
103 103
200
*103 101
90 J'ly 22 923 Oct 14
Do 2d prof
100
4
9112 9112
92
*90
87 J'ne
300 May
tnient Stores_
00 Apr 11 88 Oct
70 Apr
77
*70
77
*75
11314 J'ne
105 Elle° 10 112 Jan 11 10734 Sep
*103 10512 *103 10512
ea co pe eum
3,800 Mexim inP
4
Petroleum
_ par $5 623 Apr 20 9013 Oct 17
7312 74
7412
74
$2318 Feb 14 $3014 Sep 25 81658 Sep $2412 IfeCt
1,800 d \1la
8
255 2553 2513 2a
114 Dec 10 181 Apr 30 11714 Jan
14334 No,
500 \rational Biscuit
*12212 12712 *12314 12712
130 Feb
17
122 Dec 12 131 J'ne 19 121 Jan
Do pref
*12112 12512 *12012 12513
1212 Dec
22 J'ly
1214 Feb 29 28 Oct 15
100 Nat Enamerg & Stamp'g
*17
1812 •17
1812
85 Jan
1003 J'ly
4
88 Feb 27 9613 Jan 2
100
90
Do prof
00
92
*88
4212 Sep
69 Feb
8118 Jan 0 6814 Oct 7
1,000 National Lead
*55
5612 *5513 57
10512 Feb 1 1107 Nov20 104 Sep
101) 4 Aug
8
3
Do pret
150
*105 103 *106 10312
1014 193
8
1914 193
3 3,300 dNev Cons Copper_Par $5 $1814 Jan 29 $2418 Sep 30 $1518 Sep $2114 J'ne
50 Feb 17 85 Nov 18
45 Oct
70 Feb
79
§7812 7812 *76
340 New York Air Brake
64 Jan
763 May
4
3
*79
*783 8014
500 North American Co (new) 7412 Jan 3 877 Aug 21
4
80
2834 Dec 12 38 Sep 30
2318 Apr
8338 Nov
32
800 Dacia° Mall
*30
31
31
Telep & Teleg_
45 Dec 12 55 3 Apr 25
35 Sep
3
5458 Jan
310 -11- aeltio
14714 4714 *4612 4712
1,300 People's G L & C (Chic) _ 103 Jan 8 12212 Oct 0 10113 Aug 109 Jan
11412 11412 *11313 115
1634 Itch 1
2714 Aug 14
17 Dec
3,400 Pittsburgh Coal Co
2314 J'ne
2414 241 5
2414 2114
6734 Jan
77 Feb 8 10034 Aug 14
Do pref
0072 Xis
913 9213 8,010
8
,
9138 92
100 P. Lorillard Co
107 Alch 11 21512 Oct 18
*180 201 *180 203
115t2 11512 *114 116
Do preferred
1073 Jan 12 118 Aug 20
4
100
2834 Fob 27 407 Sep 30
400 Pressed Steel Car
25 Sep
3
36
.35
373 J'n;
3
36
.35
Do orei
96 Feb 28 10334 Aug 16
*9912 10012 *0912 10013
01 Sep 10234 J'ne
*11812 12118 31173 11Th
100 Pub Service Corp of N J_ 1063 Feb 17 1207 Aug 13 108 Oct 120 Feb
4
4
8
16412 165 *162 167
15 15 Feb 2 175 Aug 21 154 Sep 163 Jan
300 Pullman Company
21) Oct
*333614
o pS
39 J'ne
2 12 Feb 8 4034 Sep 25
3318 34
400 Railga y rgel Spring
02 Jan 103 J'ne
*98 103
102
9814 Dec 16 105 Aug28
8,323 dRay ConsCopper Par $10 $16
2118 2113
an 20 $2418 Sep 23 512 Sep $19 Dec
2118
21
18 Oct
15 4 Feb 26 35 Oct 4
26
3
3514 Feb
26
26
1,890 Elepubllo Iron & Steel
26
7418 Oct
6412 Fob 27 9338 Oct 25
993 Feb
8
*8534 87
8613
D o pref
*85
100
8914 Deo 19 101 Nov14
-600 Rumely (M) Co
*91
02
0112 *91
100 J'ne 20 10312 Oct 25
2DO pref
'99 10012 *9913 1001
Sears, Roebuck & Co_ 140 Jan lb 221 Nov 8 12512 Sep
21313 21414 21312 214
2,520
192 Feb
Sloss-Sheffield Steel & Ir_
3014 Jan 30
5934 Sep 20
5614 Feb
34 Sep
*40
4)312 *40
4612
30 Dec 19
500 Standard Milling
*3412 3512 *3112 3512
1718 J'ne
15 Aug
pref
Do
5
1154 j il 18
300
Jan 9 66 Oct 2
53 Dec
50 J'ly
*65
6534 6553 66
200 Studebaker Corp (The)._
39 J'ly 10 4912 Aug '9
37
*35
3534 30
Do
pref
0012 J'ne 28 9818 Aug 13
91
*90
0412 *00
2,100 dTennessee Copp_Par $25 $3412Fe1s 1 54714 Aiay25 83014 Sep 344 J'ne
39
*38
*3712 39
7412 Nov 13612 Feb
1,510 Texas Company (The) ___
Jan 16 13053 Sep 7
8
8
1093.1 110
8
1097 1097
63 Arch 111 J'ne
,
590 Undielo
9714
07
Dec 10 1153 J'ne 2 4
4
99
Typewriter_
.
0
07
J'ne 14 11412 Sep 17 103 Meh 11373 J'ly
11
*110 113 *110 11358
prof
4
43 Dee
177g MaY15
58 Jan 25
0 Feb
700 Union Bag & Paper
*7
712
8
77
73
s
5013 Nov
3518 Dec 8 6734 May15
Do pref
500
40
40
*3913 41
5912 Jan
11 Sep
2212 May lo
13 Feb 16
19 Feb
200 17 S Cast I Pipe & Foundr
*17
20
*17
20
4013 Seta
013 Oct 18
8
Do profx
50 Jan 4
61 Feb
200
60
60
.
*57
57
24 Aug
(1 S Industrial Alcohol__
26 Jan 8 5714 Sep 21
*40
39 May
48
48
*40
6513 Jan
7934 May
8612 J'iy 18
67 Jan 31
800 U S Realty & Improvit__
*7312 75
*7313 75
3012 Sep
4812 Dee
0
3
4514 Feb 1 677 5%1 21
8 8,600 United States Rubber__
8 6133 627
6158 617
,
104 Sep
11512 J'ly
Do 1st pref
105 3 J'ly 25 110 May:
5
850
*100 10758 *10612 10712
79 Mch
Do 2d pref
500
66 Sep
*7014 81
70
70
75 JAI% 23 8512 MaY21
60 Oct
8034 Sop .s ,
8218 Feb
5814 Fe 13
6712 6813 675 6814 200,100 United States Steel
8
10714 Dec 10 117 Sep 30 103 Oct 1207 Feb
8
Do pref
10914 10312 1092 10938 4,006
7,700 aDtali Copper___ Par 510 5521. Jan 29 $8712 Sep 30 533 Sep $577 Dec
5814 5;;:s8
8
5314 5888
43
5714 Jan 26
43
n
4313 4 9
*43
200 Virgo
4312
4034 Dec 10
Chom_
8
6
703 Feb
Nich27 114 Sep 12812 Arch
pref
11478 Dec 17 122
*114 117 *114 117
05
7512
*75
05
1,500 Western Union Teleg8412 May
4
713 Dee 16 8614 Jan 197153 Apr
*7812 go
794 7934
5853 Sep
SOO 7 estIngh'seEl &Mfg ass
79 May
6614 an 3 8912 Aug 1
i147 Jan 5 126 Aug t
8
11012 Aug 123 Jan
Do 1st pref
*11913 12112 *11913 12112400
3
1,000, Woolworth (F W)
40
13 912 11912 1211934
04 40
0212 J'ly 25 1177 Oct 2
13
0
04
11314fly 21) 11634 .Fly 2
nref
I Do
71.
rn
.
98
AND musr COMPANIES-BANKERS QUOTATIONS.
'
Bid
Ask
175
145
150
200
155
165
405
545
178
Trust Co's
241;150
N Y Oily
istor
395
220
(3ankers' 'It
EV way Tr.._
170
295
Friday
Dec. 27.
Dece 1g T13.4.4g ig Decp
14
BANKS
Banks
737'321cl/in
Coney isi'ciT
Thursday
Dec. 26.
Vednesday
Dec 25
8
8
8
8
192 192
1807 1897 1877 1877
10112 105 *10112 105 *10112 104
•
36
36
.35
*35
37
*35
8
11812 1193 .117 119 .117 11912
11618 117 *116 120 .115 120
8
8
140 14038 140 14058 1403 1103
4
27814 2703 2753i 27314 ,273 280
8
4
1023 1023 1021 1027 *10212 103
4
8
2134 213 *1912 21
4
22
22
*82
84
3813 813 *SO
4
82
4
3112 3112 31
31
.31
12
3918 4012 39
393
4 3914 3938
*123 1257 .122 1257 .122 12 3
8
8
57
617 52
8
*51
52
*51
62
1043 1043 .1033 10412 .104 10414
8
8
4
3714 3712 363 3712 3714 3812
4
66
67
69
.66
67
70
*138 142 *138 142 .138 142
.2812 2912 .2812 2912 .2812 2272
5433 56
5312 65
538 54
8
85
85
8412 8412 8412 85
*9814 100
.9814 100
*9814 100
2878 20
2814 2814
29
29
*92
95
*92
9412 *92
0412
4378 4514
4334 4412 *433 4413
8
3334 34
3312 3312
3312 31
141 1413 .140 14113 *13912 14112
4
1412 15
4
133 14
1414 143
8
•76
77
•75
77
*7512 77
2038 2112 21
2118 2112
2138
•12
18
*12
18
*13
18
.
38
4212 *33
4212 .39
4212
185 18512 18312 18312 *18212 185
34
34
.3012 3512 *33
3472
773 773 *76
4
78
4
*76
78
218 .2
*2
218
218
218
643 65
4
65
.64
65
65
010512 10612 .103 105 .103 105
*5012 52
5112 5112 .5058 62
18
4
183 .18
8
173 18
1914
113 114
112 11333 *110 113
*11413 11512 115 115 .11338 115
412
412
.
*413 5
412 5
*18
1912 *1818 1912 *18
1912
1273 127
3
123 13
.1
123 123
4
4
*49
50
49
4 93
4912 493 4 4
1912 1012 .19
1912
-7
73- 73
73
73
.70
.70
.
85
92
.85
*85
93
92
*105 109 .103 110 *10512 109
75
75
75
*73
*73
75
*9814 103
8
.09 101 11003 1003
8
*4712 50
*4712 4812 *4712 4812
*10212 10312 .10212 10312 *10212 103
*208 21212 *207 213
210 210
.111 115 .110 115 *110 117
39
397
&
3912 3912 .3812 297
8
4103 104 *10212 103
4
10334 1033
.
90
92
92
.90
02
.90
7612 7612
7612 7612 7612 7612
*102 100 *102 106 *103 10512
74
4
7512 7312 74
733 74
2614 263
8 26
26
2314
26
124 1253 12438 12518 .122 12812
4
O120 12312 *12212 12612 *12012 12
614
18
18
.17
1312 *17
1812
089
02
.88
92
*88
92
6678 5714 6512 56
6512 5512
110714 10714 107 107 *108 103
1913 197
8
8
1914 193
1914 1913
*75
77
*74
78
78
78
80
8012 *79
8014 .70
821s
31
3112 307 307
8
.3
*46
1. 4 461
5
4612 461 7 r -- '7
48
4
113 114 .113 111
114 114
2334 2413 *22
24
2314 2414
8934, 91
895 9012 8912 9114
8
201 201 *____ 201 *180 204
O113 1171, *113 1171 *113 116
*3412 35
35
351 1 *3412 35
.
*9912 101
9912 10112 .9912 101
*11912 12118 .11934 12112 *11912 12118
SIM 16412 *161 164 *162 164
3514 3512 .30
3512 .33
35
.98 103
00812 103
*9814 103
2078 21
21
2112 2078 21
2638
26
2718 2714
8
2658 207
4
.8412 8714
8
857 857 *343 87
8
92
*91
91
9012 9112 91
*99 10012 .99 101
*99 10012
20412 20512 20414 205
207 210
*43
49
*43
4612 *40
4672
35
35
3518 3518
3514 3514
*6412 66
.
65
66
.6412 66
*35
37
3712
3712 •35
*35
04
.90
.90
94
94
*90
38
3912 383 383
4
4
3812. 3811
10812 10914 1083 109 *108 11()
4
*9612 99
98
08
4
973 973
4
*112 113 *100 113 *100 113
7
7
4
712
*63
7
7
*40
41
42
42
4014 4014
.
17
18
1712 171
1712 171
5813 5818 *57
5814 5314
60
.40
*40
48
48
*40
48
7412 7458 743 *7314 75
4
74
643 66
6488 6512 65
4
65
107 107
107 107 *10612 108
4
793 793 *7913 8018 .7018 8018
4
68
693
4
6718 677
673 69
8
8
1003 11014 10912 110
4
10918 10912
4
573 5812 6814 5312
5814 5014
43
43
043
45
*443 45
4
*114 117 *114 116 *114 117
74
743
4 7414 7514
7514 7514
8012 803
4
7913 793 *7812 80
4
12112 12112 12112 12112 12138 1213
8
108 10812 .10612 100
109 109
*11312 11412 *11312 11412 *11312 11412
Nassau
Nat CIty
[VoL. Lxxxxv
New York Stock Record-Concluded-Page 2
1732
Bid
Trust Co'
YGIIy
Central 'rr__ 1030
ColurnblaKnlokerb
Commercial
Empire _ 300
Equiti ble Tr 635
Farm Loser 1390
Fidelity
Ots
Ful ton
Guar'ty Tr_ 622
815
Ask
Trust Co's
Bid
Ask
85
149
212
125
440
90
if§
190
460
145
152
140
150
N Y Oily
1040
560
98
610
1350
325
632
Guardian rr
Hudson
Law T I &Tr
Lincoln Tr_
Metropoll'n
Mutual Alliance
Ilut.t Westchester)._
"frus: Co'J
Ma
131c.:
Ask
615
510
1340805
Trust Co's
Brogklyn
Brooklyn Tr
C'itizens'
Franklin__
o
il a m l lton __
t lo m
475
150
240
210
178
490
155
255
285
1395
120
, ngsijC5%)
iC tisi
E
50
32
0
.
3
110
Ask
N Y City
NY Llte sar 1030 1080
2685
0
N Y Trust_
TitleGu & Tr 500
Union Tr.-- z4171050
US Altg& Tr
Unit States_ 375
Washington
Westchester
Windsor
150
80
160
Yr
'95
31)
Pe ssau
N ao p les'::: '
2
jueens Co_ 100
305
110
Less than 100 shares. # Ex-rights. a Ex-dly. and r gl3ts. b New stock. d Quoted dollars per share.
7 Sale at Stock Exchange or at auction this week. 3 Ea stook dividend. 11 Banks marked with a paragraph (1i) are State banks. x Ex-dIvIdencl.
• Bid and asked prices. no sales on this day.
1733
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
Jan. 1 1909 ths Exchange method of quoting bonds was changed, and ~vices are now alt—''and interest"—exceu for incom3 and defauUed bonds.
X.
•
ti'ts
BONDS
Y. STOCK EXCHANGE
Week Ending Dee 27.
b.g
4
;
Price
Friday
Dec 27
Week's
Range or
Las: Sale
roc%
Range
Since
Jan. 1.
60
BONDS
Fria.
N. Y. STOCK EXCHANGE
FrWay
Week Ending Dec 27.
0., 1 Dec 27
Week's
Range or
Las: Sat-
1121
----Btd
Ask Low
High No. Low High Chesapeake.ec Ohio—
U. S. Government.
High No. Low High
Bid
Ask Low
S 25 consol registered_d1930 Q-J 10114 Sale 10114
10114 30 10031 10111
Gen funding ec impt 5s__I929 J -J
_ 9938 9912 Dec '12 --_ 9938 10413
10112 20,1 10034 1013
U S 2s consol coupon____d1930 Q-J 10112 Sale 10138
1st consol gold 5s
2
1091
1939 51-N 11612 110 10912
4
k1918 Q-F 10212 103 10212,4'1y '12
U S 3s registered
Registered
102 10231
1939 111-N
10938 Nov'12 -- _ 1993an1013
0Ra 1314
:9 g
Sincen
k1918 Q-F 10212 103 103 Dec '12
General gold 4548
LI S 38 coupon
10112 10.114
1992 31-S 993 10014 993
4
4 10014 20
U 5 43 registered
1925 Q-F 1135 11418 114 Dec 12
8
Registered
11314 1115
8
1992 31-S
9938 Nov 11--- - - 99
8
1925 Q-F 1135 Sale 11358
U S 95 coupon
11358 10 11314 1143
Convertible 4 ;is
9238 42
4
1930 F- A 9214 Sale 9214
U S Pan Canal 10-30-yr 21 k1936 Q-N 1007 10114 10012 J'ne 11
8
BIg Sandy 1st 4s
1944 J -D 8518 8734 8618 Nov '12 -U S Panama Canal 3s g
4
1961 QS 1013 10214 10134 Dec '12
Coal
2
1995 J -D 83
10138 1017 Craiglily My 1st gu 4s
8812 Oct '12 -Valley 1st g 5s__1940 J -J 100 _ _ _ _ 10134 May'12
0431 1014
8i- -8:
88656 883
1
861 2
89
Foreign UOVCrIlment
Potts Creek Br 1st 4s
1946 J-J
84 May'12
8314
Argentine--Internal Os of 1909 1 96 0812 0612 Nov'12
11 & A Div 1st con g 48_1989 J -J
(1512 100
9134 i714- 92 Dec '12
913 96
Chinese (Hukuang) Ity 53 X.— J -D 5 90 91 9014 Dec '12
2d conso! gold 45
90 0512
1989 J -J
.67 24i
0;1 i:
83 _ _8 9012 Aug 12
4
: 01
_
Imperial Japanese Government
Greenbrier lty 1st gu g 48 1990
8712_ 95 Oct '10 --- •
Sterling loan 4 ;is
4
Chic & Alt RR ref g 33
2 8912 94
1925 FA I 893 9014 8958
8978
1949 A-0 67 Sale
67
2
67
2d Series 4 ;is
Railway 1st lien 3 54s_1950 J-J
1925 J-J 5 88 8912 89 Dec '12 • _ _ _ 89 93
- 64 2 65 Dec 12 -,
Sterling loan 45
4
8214 843 8214 Dec '12
1931 J J
8214 8812 Chic B & Q Denver Div 4s1922 F -A 0 100 9914 Dec '12
.
18
60111 10512
9
9 6
0
Republic ot Cuba Os exten debt_ 51-s 110112 102 10158
Illinois Div 3;is
1015
6 10112 101
1949 J -J
85 87 85 Dec '18331 88
External loan 4 ;is
Registered
1999 F-A I ---- 9612 09 Aug'12 —_ _ 9J
1949 J -J
9914
8614 Aug'12 85 8614
,2
_
an Paulo (Brazil) trust 5s_1919
Illinois Div 45
971 97
-_1_13_ 97 983!
1949 J -J 98'4 Sale 9814
9812
4 .3712 10012
s
917 Sep 12
2
Tokyo .;ity loan of 1012, 5s--Registered
1949 J J
9173 95
97 Sep '12 --_
t y94389572 9512 Dec 7
U S of Mexico s f g 5s of
Iowa Div sink fund 5s
91
'
1899
1919 A-0 ioi iosti 105
03 99
2 11'772 10512
9512 9714
105
:11__ 90 90 Nov 1 _
Sinking fund 4s
Gold 43 of 1904
1954
1919 A-0 9858 9912 9812 Dec '12 -- ,182 9 :
88 91
9 2 ,9Et
9
0
6
8
fliess aro p 'ices on theba sis o I $5 to Z.
Nebraska Extension 4s 1927 31- N 0614 97 9612
9612
1
Registered
State and City Securities
1927 11-N
9658 Sep '12 --4!_fs
Southwestern Div 9s
14 53 9078 103
Y City
10014 Sale 997
1960 .11-3
8
1921 II
-S 98 4
100
,
983 0012
4
4
- 983 Nov'12 Joint bonds See Great North
8
23 9558 10018
4% Corporate Stock
1959 ill-N 957 Sale 9578
96
4% Corporate Stock
Debenture Os
4
8
1958 51-N 955 067 96 Dec '12
1913 31-N
96 10012
997
997
8
5 9978 10158
8
4% Corporate stock
9612 0614
General 48
4
3 9578 10014
1957 31-N 953
1958 M-S 95 Saie 95
9612
9 74 -- 9
95 4
,
6 9418 9714
New 4 ;is
1957 M N 10.113 10412 10414
10138 10 104 10772 Chic & E Ill ref & imp 4 gs_1955 J-J
7812 78
7712 Dec '12 -.New 4 ;is
1st consol gold Os
101
1917 M-N 101 Sale 101
1 101 10234
1934 A-0 10 104 119-2 Oct '12 -5
1838 2%
0
General consol 1st 5s
4
Corporate Stock 1957 31-N 10118 1041 10414
1937 II-N
1043
6 10334 10778
8
107 Nov'12 -45i% assessment bonds_1917 31-N 101 Sale 101
Registered
101
1937 111-N —_ 10612 10914 Feb '12
4 101 10278
10697114:110014
11971 2 2:3 82
°1
5:
11
3% Corporate Stock_1954 31-N 8312 8412 8312
Pur money 1st coal 5s_1942 F-A
8312
3 8312 88
98 Dec '12 ---N Y State-4s
Registered
1007 10118 Dec 12
1961 31- S
10338 10278
Canal Improvement 4s 1961 j..J
1011 10114 Nov'12 ---- 10932 10272
Chic & Ind C Ity 1st 5s1936
10412
16614
10614 11)913
Canal Ins pinent (new) 9s 1961 j J 10012 101 10018 Oct '12 -.-- 10038 103
Chile Gt Western 1st 4s__1959 21-S
1O027653
7658
77
4 75 83
Chic Ind & Loulsv—Ref 68_1947 J-J 12434
Canal Improvement 49_1960 j j 101
10058 Oct '12
:
10;i12 102
132 1243 Dec '12 -- 12414 12912
4
1e
4
98 __ 10312.1'1y '10
Retunding gold 58
So Carolina 4 ;is 20-10
1947 J-J
1033 j
10934 Aug 12 -- 10934 111)34
1
j_j 9758
Refunding 93 Series C
9758 Dec '12 - Tenn new settlement 33
1917 J-J
1913
9558 Apr 11 -9732 973
4
87 86i2 Dee '11
Ind & Loulsv 1st go 43_1956 J-J _
Virginia toad debt 2-3s
1991
84 0014 J ly :112
86 A uz 2
'
gi ;id
6s deferred Brown Bro8ctfs_
84 513
Chic Ind & Sou 50-yr 95
5312
5312
1956 J J
-ja Chic L S & East 1st 4 ;is__
9014 9158
_1909 J -D
Railroad
101 Dec '11 _--_
76
7712 77 Dec '12
A nn Arbor 1st g 45
Chic Mil & St P
01095 Q-J
5s 1914 J -J
s
. 2. 1(88896114,1 1488 0ic: Gen'l gold 43term! g A__e1989 J-J i664 9853 10034 Dec '12 1 161612 idir
. 376 099(9
tch Top & S Fe gen g 4s_ 1995 A-0 965 Sale 9212
914
8
8
155 9:7 8l::
11
Series
967
8
9858
9858
)722,
_ 953 963 Oct '12
4
Registered
4
Registered
1995 A -0
el989 Q-J
9712 Apr '12 ---_ 02 9
°612 982
7
91
Adjustment gold 4s___01995 Nov 87 89
Goal gold 3;is Series B_e1989 J-J
8718
8718
8312 85 8412 Dec '12 -- 8358 8678
Registered
Registered
01995 Nov
8612 86 Nov'12
41989 J -J
86 J'ne '11
Stamped
25-year deben 45
01995 II-N 8712 Sale 8712
8712
1934 J-J
9112 -61:- 91
2
1 -66- -Ei
91
ji
Cony 43 issue of 1909____19:15 j-D
Cony 4 3 (full pd rects)-----is
10812 Sep '12
10518 Sale 105
10514 122 10134 107
Cony gold 4s
Chic & L Sup Div g 5s
1955 J -D 11-10 10612 10558 Dec '12
1921
103 _
105 Sep '12
105 108
Cony 45 (issue of 1910)_1900 J -D 1025 103 10234
Chic & Mo Itiv Div 53_1920 J-J 105 ___ _ 10614 No v'ilo
5 1° 4 1 1 1
8
1 1) 1 1
10314
0
5
l
4
10614 10834
10-year cony gold
Chic & P W 1st g 5s
2 10158 10714
106
_
19I7 J-1) 105 10512 106
1921 J -J 10414 10478 1041
5 10414 1065
04 2
8
Debentures 4s Series IS_ _1913 F.A 9838
9914 J'ly 11
C M & Puget Sd 1st gu 4s 1949 J -J
5s_
4
- 933 1933 A ce
4 17 8 D ug
_
Dak & (it So gold 5s
East Okla Div 1st g 4s
943_
0 1 Dee 12
1928
1916 J-J 16:14_ 10214 Oct 12 __-- 10314 10314
S . 4 _6f1; 9414 oct . 2
J
- 94 9634
92 95
Short Line 1st 48 gold_1958
Dubuque Div 1st s 1 63_1920 J-J 10914 ii112 111 Dec '12 -- 111 11358
9034 94
Cal-Arlz 1st ec. ref 4;is 1962
Far & Sou assum g 6s
s 6634 10012 10031 Dec '12
1924 J -J 11312 _ _ _ _
)93.1 10017
S Fe Pres & Pn 1st g 53_1942 II-S 106 --- 10814 Oct '12
LaCrosse & D 1st 55
_ 10314 11012
1919 J-J 10314_ 1013 J'ne'12 _ _ _ 1641- 1043
4
2
4
.
_ 10633J'ly '11
Chic & St L 1st 6s
1915 n..s 102
Wis & Minn Div g 5s___ _1921 J-J 105 i14 105 Nov'12 _
105 10638
Wls Vail Div 1st 68
Atl Coast L 1st gold 48_01952 If- S 05 Sale 9434
95
31 -Si
1920 J -3 10914 11234 10934 Dec '12
_
-91372
Registered
01952 XI-S
98 Oct '06
Mil & No 1st cons 6s_1913 J-D 10012 ___ 10012 10012
1 10038 10114
Ala Mid 1st gu gold 58_1928 11-11 6
:1122 _
.1 : 053
475.
1
8
9
Extended 43-4s
1913 J -D
idg- log Chicago
100 s Aug'12
Bruns & W 1st gu gold 43 1938
Aug'12
& N West cons 7s _1915 Q-F
95 9534
8
100412 19 31:
1°0 1334; 0 4
89°91 192
10714 1047 Dec '12
890
j 127
Charles & Say 1st gold 7s 1936
Extension 45
1886-1926 F-A
90 9612 Sep '12
4
L & N coil gold 98
9214 --43 -91 - -56101952 II-N 013 921292
Registered
4
1886-1926 F-A
_
12
84
8 Oct' ___5 96 96
94
6
A.0 113 122 12318 J'ne'12
Say & W 1st gold 6s__1934
_ 12318 12312
General gold 3;is
1987 51-N
8412
95 97 4
8338 858
1st gold 5s
1934 A-0 100 11212 11058 May'11
Registered
p1987 Q-F
84 8434 J'ly '12
Sil Sp Oca ea a gu g 4s_1918 J -J
General 48
97 100 97 Oct '12
07 97
1987 M-N
9712
9734 19
SinkIng fund 6s____1879-1929 Aalt & Ohio Prior 3;is 1925 j-j 9134 Sale 9114 0134 36 ((012 93
0 14
96 10914
9:544:
872
L11103.41
Registered
4
Registered
01925 Q-J
9014 9158
8912 9014 Nov -12
108
1879-1929 A
Aug'12
Sinking fund 5s
Gold 48
26 95, 9914
01948 A-0 9714 Sale 97
1870-1929 A-O 10512
_ 10512
2
10512
2 165 i1 6 06 10c1 8
4
4
Registered
Registered
9614 Dec '12
01948
96 9812
1879-1929 A -0
104 8 Oct '1.: _- 10(38 10153
,
Debenture 58
Pitts June 1st gold $5. _1922
109
1921 A -0 10234 103 10118 Dec '12 -- 10118 10112
2
)
- 18712 111
,
112 Jan '12
12
0
05
Registered
P June & M Div 1st g 3 s1925 11.5 87 ____ 8718 Nov'12
1921 A-0
101 Dec '12 -Sinking fund deb Os
PLE &
88t2
Va Sys ref 43..1941 51-N 8812 Sale 8812
1333 fl -N
107 10814 Nov'12
10814 1081
Southw Div 1st gold 3;is 1925 J -J
Registered
1033 ,11-N
00
8
88
90 9158 895
41 8812 9212
1
10734 Aug'11
From Elk & Mo V 1st 63_1933 A-0
Ccn Ohio It 1st c g 4;is__1930 Ii-S 100
101
101
125 124 Oct '12
1 09 1(3157
124 1271
Mani GB &NW 1st 3;is 1941 J -J
CI Lor & W con 1st g 5s__1933 A-0 105 107 10/ J'ne'12
11112
9012 Sep '09 ---_
107
Monon Illy 1st gu g 5s_1919 F -A 10212 _ _ _ 10214 J'no'12
Milw & S L 1st gu 310_ _1941 J -J
10214 10112
Ohio River RR 1st g Os_ _1036 J -D 103
Mil L S 4.) West 1st g 6s 1921 ,11-S
--10854 Nov'12
10834 10938
11133 110t Dcc '12 —
General gold 5s
Ext & imps f gold 5s 1929 F-A 11(506i1: 4
1937 A-0 101 10014 10512 Apr '12
105 10512
107
107
33 110
1
5 6 2 ij
: 5-1;
:51----4
Pitts Clev & Tol 1st g 6s_1922 A-0 11214 ____ 11312 Feb '12
Ashland Div 1st g 6s_1925 in-S 114 _S
l421 Feb '02 -11900063253:442
1¶131 19312
)6
1
17
1
Pitts & West 1st g 4s
0612 _--- 0612 Oct '12
Mich Div 1st gold 65 1924 J -J
1917 J -J
14
11634 May'12
11634 Hai
Stat 1st Ity 1st gu g 4;0_1943 J -D 91
Mil Spar & N IV 1st gu 4s_ 1947 fl-S
J'ne:12
No v 12
91
01
9312
9312 25 9212 04
Buffalo It & P gen g 53_ _ _1937 ItNorthw Tinton 1st 7s g 1917 II-S 109 _ _ 115 Ply
10312 10--93 1099134
10931 11212
Consol 45s...1957 11-N 10312 10114 10114 Dec '12
Winona & St P 1st ext 7s 1916 J-D 10812 11158 109 Sep '11 —
10334 10714
'12 _ _111
All & West 1st g 48 gu_1998 A -0 953
Chicago Rock Is & Pa 63_1917 J-J
Feb '11
4
97
10534 Sep '12
10534 1087,
Cl & Mali 1st go g 5s_ _ _1913 J -J 105 --_ 103 J'ly '08
Registered
1917 J -3
_
109 Aug'10 ___
Roch & Pitts 1st gold 6s_1921 F-A 11u -_-. 11331 Noy'll
General gold 4s
1988 J -J
Sale 9234
9234
1 9234 -661
8
Consol 1st g 6s
Registered
1922 J -D 11112 ____ 112 Aug'12
1988 J -J
91
112 - 1l13
94 91
91
5 91
0614
BuIT & Susq 131 rer g 4s ___d1951 J -J
Refunding gold 4s
40 Sale 40
40
1934 A-0 865 Sale 8658
40 40
87
30 86 3 90 4
3
3
,
So 1st ext 119
1913 J -J ----100 100
20-year debenture 5s
10014
I932 .1- J 89 893 89
100 102
4
.
8914 I:) 89
9958
C 2d 5s
v-1
1913 31-S 101118 Sale 100
,
Coll trust Series L 43
10018
1914 31-N 94
_ 9734 Sep '11
9912 101
Registered
1913 31-S 091a _
10034 Jan '11
P 4s
1918 11-N
9434 J'ne'11
Central of Ga 1st gold 53_ _p1945 F-A 111
111 Dee '12
Chic It I & Pae /tR 4s
111 11334
2002
N 654 Sale 6518
6512 61 641 731
Consol gold Os
1945 M-N 10712 10838 108
Registered
10814
10334 11118
2002 II-N
6712 Nov'12
6712 7234
RegIstered
1945 II-N - - -- 107 107 Aug'12
R I Ark & Louis 1st 4 ;is 1934 11- S 86 : 0 8712 N ov'12 _
107 107
8712 93
1st pre( income g 5s__ _p1945 Oct
- 103 Dec '11
Bur C It & N—Ist g 5s_1934 A-0 10834 110 10812 Dec '12 • _
- 10812 11112
2d pre income g 5s_ _._p1945 Oct
--__ 105 Dec '11
Registered
1934 A-0 10334 _ 12012 Itch'03
-- - ---2d prof income g 53 stamped_
---- 06 Nov'11
CRIF&NW 1st gu 53'21 A -0 10218 106 10514 Sep '11
---_
3d pref income g 5s_ ___p1945 Oct
---------107 Dec '11
M & St L 1st gu g 7s_ I927 J -I)
-ad pre Income g 5s stamped__
8518 Oct 'I()
Choc Ok & G gen g 5s_ _o1919 J -J
idi 102
993
4- 102 Sep '12
89 ____ 9012 Nov'12
Chatt Div pur mon g 4s.._1951
Consol gold Os
-g65- 9112
8
1952 11-N 19112 196 106 Oct '12
09 61912
10 i 10814
Mae & Nor Div 1st g 53_1946 J -J 10414 ____ 10714 Jan '12
Kcok & Des Al 1st 5s_ __ _1923 A-0
10714 10714
9958 Dec '12
98 10114
1997 J -J 105 ____ 115 Nov'05
Mid Ga & Atl Div 5s
St Paul& K C Sh 1 1st 4 54s'41 F-A 89 90 91 Nov'12
),,) 9112
Mobile Div 1st g 53
1946 J -J 105
10934 May 11
Chic St PM & 0 con 6s
1930 J -D :089013814 I2112 120 Dec '12
:
l_:
10
2
0 s02 :
12) 124
Cen RR & 13 of Ga col g 5s_1937 11-N 10012 10138 10112 Nov'12
Cons 63 reduced to 3 ;is_ _1930 J -D
101 1(1:1
2 8914 8914
89 4
,
89,
4
Cent of N J gen'l gold 153_1987 J-J 11814 11912 11814
Debenture 55
11814
1.13 12234
1930
S
10212 10212
4 102 105
Registered
01987 Q-J
11812 ii814 Oct '12
Ch St P ea Minn 1st g 6s_ _1913 11-N 119
1171212214
120 Dee '12
120 12312
Am Dock & Imp gu 5s_ _ _1921 J -J 105 10534 10512 Dec '12
Nor Wlsconsin 1st 6s_ _1930 J -J 119
105 107
_ 12958 MaY'M
Le & lIud It gen gu g 5s_1920 J -J 10012 ____ 10212 May'12
St P &S City 1st g 6s
10212 10212
1919 A-0 10812 1
.
109
109
2 103 11113
Leh & Wilkes-B Coal 5s__1912 51-N
100 J'ly '12
Superior Short L 1st 55 g_1930 111-$
100 100
N Y & Long Br gen g 43.1941 M-S 03_ 100 Sep '12
100 100 'Chic &West Ind gen g 6s_q1932 Q-M 10512 _
10712 lO8t
Cent Vermont 1st gu g 43-01920
-i618 sots Deo '12
Consol 50-year 45
1952 J-J
8918 9214
88 gils 89 Dec '12
981, 0213
1
11
N
-
B
MISCELLANEOUS BONDS—Continued on Next Page.
Street Railway
Brooklyn itap Tran g 5s___1945 A-0
1st refund cony gold 4s_ _2002 J-J
Bk City 151 con Os 1916-1941 J J
131c Q Co & S con go g 5s_1941 11-N
131ilyn Q Co & S 1st 5s___1941 J-J
131ilyn 11n El 1st g 4-5s__1950 F-A
Stamped guar 4-5s____1950 F-A
1949 F-A
Kings Co El 1st g 45
1949 P-A
Stamped guar 45
Nassau Dee guar gold 48_1951 J -J
Conn Ity & List & ref 5g 4;is_'51 J-J
1951
Stamped guar 4548
Det United 1st cons g 4540_1932 J -J
Ft Sinith Lt .30Trac I st g 5s_1936 111- S
Grand Rapids Ity 1st g 53_1916 J-D
Havana knee consol g 5s_1952 F-A
Interboro-Metrop coil 434s_1956 A-0
t.! No prim
Friday; latest this week
Street Railway.
102 103 10212 Dec '12
_ 10212 10552 Interboro Rap Tr 5s Ser A.1952 II-N 10314 Sale 10314 1033
4
s 28 1021 105
927 580 8378 9434 Manhat My (NY) cons g 4s_1990 A-0 _
8
92 Sale 89
94 9312 Dec '12 ____ 9312 0313
101 10218 102 Dec '12
101 10212
Stamped tax-exempt_ __1990 A-0 9334 — - 9312
4 9312 98
9312
___ 99 9831J'IY '12
983 93 4 Metropolitan Street Ily—
3
4
_
1007 9312 Dec '12
8
Refunding gold 48
2002 A -0 _ __ 50 61 May'12
9812 0812
5812 64
10014
_ 10112 10018
4 10018 10314
Farmers' Loan & Tr ctf____
5712 6214
6114 J'ly '12
10018 101 1(11 Dec '12
Stamped
101 10212
5934 Mch'12
5758 62
8312 8512 8312 Dec '12
_ _ 10312 4034 Dec '12
Bway & 7th Av lstc g 55_1943 J-D
8312 87
103 10412
_ 86 8312 Dec '12
Col & 9th Ay 1st gu g 58_1993 M-S 0112 Sale 10112 10112 19 10112 10312
8312 8012
1 79 Sale 79
79
Lex Av & P F 1st gu g 58_1993 111-S 93 1013 102 J'ne'12
102 103
4
7712 81
102 10178 J'ne'12
Third Av 1111 cons gu 43_2000 J -J
101 1017
J'iy '12
8
74 80
10014 10112Sep '12
Central Trust Co certs
10112 10214
7412 J'ly '12
73 811g
7312 Sale 7312
7312
Cent Tr Co cts stamped _ _
7312 7938
74 Nov'12
7214 8114
91 ____ 93 Apr '12
Ave fly 1st g 5s___1937
Third
93 95
idi 10734 10734 Dec '12
107 11011
$.49
_ 99 Sep '12
99 10014 Met W 8 El (Chic) 1st g 49_193* F-A
8418 9312 J'ly '06
_
98 93 Nov'12
L'iec My & Lt cons g 5s1926 FLA ____ 10414 10412 Dec 'II
93 0034
8 Sale 7913
-64
_ _ 9414 1412 Oct '12
8078 304 78 8412
Refunding & exten 454s_1931 J-J
-6712 951
Minneap St 1st cons g 58___1919 j-J 101 ___ 102 Nov'12
mitt 1024
d DUO April. o Duo May. Is Due July. It Due Aug. 0 Due Oct. p Due Nov. q Due Dec. s Option sale
1
New York Bond Record—Continued—Page 2
1734
,
BONDSr3
t
N. Y. STOCK EXCHANGE ,
,
a.,
Week Ending Dec 27
Price
Friday
Dec 27
Wee/3
Range or
Last Sate
.a.
0.,
.f.je7)
Range
Since
Jan. 1.
Bid
High No. Low High
Alt Low
4
Cin H & D 2d gold 4 Hs__1937 J -J ___ 10114 1003 Oct '12 __ 10038 101
1)112
1st & refunding 48
1959 J -J
1st guaranteed 48
1959 J -J ____ 90 8614 J'ne'12 ____ 86 87
Cin D & I 1st gu g 53
1941 M-N 99
101 Nov'12
1_01 10_114
0Find&FtW1stgu4sg1023N-N .__-_88 Nchll
_
Cm
& W 1stgug 4s.,,,,1953 J-J
8634 8718 863Nov12 _863 88
Day&Mich 1stcons4Hs 1931 JJ _
-J -J
1IndDec&Wstg5_93
iii MS
2 idi 16412
1st guar gold 55
1935 J -J
107120ec '02
3
Cleve Cln C & St L gen 4s 1993 J -D ___ 92 8 9114 Dec '12 ____ 90 9314
4
20-yr deb 4 3is
_1931 .1-J __ _... 9218 924 Dec '12 __-_ 91
933
Cairo Div 1st gold 4s____1939 J J .__. 92 9318 Sep '12 ____ 9318 9414
9112 92 90. Ply '12 .___ 90 93
Clrl W & M Div 1st g 43_1991 J -J
92
6 8978 9312
St L Div 1st col tr g 4s___1990 51-N 92 Sale 92
1990 11-N --------91 Oct '07._ ____
Registered
Spr & Col Div 1st g 4s
1940 M-S 87 90 90 Dec '11
1940 J -3 87 ___ 91 Apr '12 ____ 91 91
W W Val Div 1st g 4s
1920 11-N 10514 ---- 10534 Dec '11
C I St L & C consol 6s
81936 Q-F -- __ 9712 Nov '12 __-- 96 9712
1st gold 45
_
81936 Q-F ---- ---- 96 J'iy '12 ---- 98 96
Registered
Pin S & Cl con 1st g 5s___1928 J -J 105 _.10718 J'ly '12 ._-_ 10718 10718
1914 J-D 102 105 105 J'ne'12 ---- 105 15512
0 C C & I consol is
.___
_
_
Consol slnking fund 7s_1914 J -D - — ___
General consol gold 63_1934 J -3 .._-.124 123 Oct '12 -- 123 12312
1934 J-J
Registered
/nd 131 & W 1st pref 49_1940 A-0 90 -__ 94 J'ly 8 ...... _ _ _ _
___
0 Ind & W 1st pref 5s__d1938 Q-J -,- ____ __
8
1940 A-0 875 89 8814 Dec '12 __-_ 8612 02
Peo & East 1st con 4s
4612 4712 4612
1990 Apr
Income 4s
4612
2 35 50
35 36 36
1947 J-J
36
Doi Midland 1st g 48
2 36 5812
1929 F-A
9314 9312 9314
Colorado & Sou 1st g 9s
9314
5 93 9738
1935 M-N ---- 9312 9314
Refund & ext 4 Hs
9312
5 93 9818
1921 J -1) 106 10712 107 Dec '12 --- 106 11212
Ft W & Den C 1st g• 6s
Conn & Pas Rivs 1st g 4s_1943 A-0 ---- ------- __-_ __Cuba RR 1st 50-yr 5 g
1952 J -J --------100 - Mai'li
Tlel Lack 44 Western8
"-, Morris & Essex 1st 78_1914 M-N 1023 ..,.._ 10314 Dec '12 __-, 10314 1063
4
1st consol guar 7s
106
1 106 10918
1915 J -D 105 10918 106
11138 Dec '10
Registered
1915 J-1)
Meh'12
90 90
1st ref gu g 3 Hs
2000 J
-D90
s
N Y Lack & W 1st 6s
1921 J -J 1107 111% 1103
6 110 11414
4
4 1103
105
3 105 1073
1923 F-A 105 1074 105
Construction 5s
4
Term & Improve 4s....1923 M-N 9618 ____ 9612 Nov'12 ___ 9512 98
• Warren 1st ref gu g 3 30_2000 F-A --------10218 Feb '0
1917 M-S ill 1111 11512 Aug'11
Del de End 1st Pa Div 7s
.
Registered
1917 M-S ---- 149 Aug'01 __
9714
1916 J -D 9714 Sale 9714
9 9634 99
10-yr cony deb 45
1st lien equip g 45.s
1922 J-J -_ __ NW:, 10078 Dec '12 _--, 10078 1013
4
4
98
1st & ref 43
1943 M-N 9738 983 9734
6 9714 993
4
4
883
4
5 8812 93
Alb & Sus cony 3 Hs __1946 A-0 8812 89 883
Rena & Saratoga 1st 7s 1921 M-N 117 ____ 12114 May'12 -_-_ 12114 12112
8718 89 8714 Dec '12 ___ 84 91
Deny& R Cr 1st con g 4s.1938 J -J
97% 97 Nov'12 - 1936 J -J
Consol gold 44s
9612 9812
Improvement gold 5s
1028 J -D 96 99 96 Dec '12 ---- 934 9912
31 8:314 Dec '12 -- 81
90
1st de refunding 5s
1955 F-A 821
_.
Rio Cr June 1st gu g 5s 1939 J -D ---- ---- 10112 Aug'12 ..--- 10112 10112
Rio Gr So 1st gold 4s
1940 J-J ---- 7712 6112 Apr '11 -70 85 Mch'0: __-,
Guaranteed
1940 J -J
834 Sale 8318
7 82 835
84
Rio Cr West 1st g 4s_..__1039 J-J
8
1
78 8
2 78 81
Mtge & col trust 48 A 1949 A-0 7812 ---- 7878
Utah Cent 1st fru g 4s.a1917 A-0 82 ____ 97 Jan '08 ....-110 Sep '04 _—
Des NW Un My 1st g 5s_1917 M-N 98
9178
Det & Mack 1st lien g 4s
1995 J -D 89 ___- 92 Nov'll __-Gold 43
1995 J -D 87 - - .._ 87 Dec '12 _-- 87 9212
s
Dot illy Tun Det Ter Tun 4 Hs'61 11-N 914 9812 9812 Deo '12 _--- 98 1007
Det T & 1-0 S Div ist g 4s194I M •S --- 6212 75 Feb '12 ____ 75 75
Dul Missabe & Nor gen 5s 1941 J -J , - 105 105 Sep '12 --- 105 106
1937 A-0 10058 10312 10312 Nov'12 __-- 10312 107
Dul & Iron Range 1st 5s
10612 Mch'08. _
Registered
1937 A-0
8
1916 J -J 1013 __ 104 Feb '11 __
2d 6s
Dui So Shore & At! g 5s__1937 J -J 10318 -- 103 Oct '12 ____ idi iii
UlgIn Jol & East 1st g 5s 1941 111-N 106 -___ 110 Aug'12 .--- 110 11212
1920 51-S -„- 114 115 Nov'12 --- 115 11838
Lurie 1st consol gold 7s
_
N Y & Erie 1st ext g 4s_1947 ,11-N 99 --- 10112 J'ne'11 ____
2d ext gold 53
1919 M-S 10212.._ 1044 Meh'12 ____ 109 4 1
.3- -9412
1923 M-S 100 --- 9934 Oct '12 ____ 9934 10234
ad ext gold 4 Hs
103 Dec '12 _
105 10514
1920 A-0 103
4th ext gold 5s
5th ext gold 45
1928 j-D 9258 101 100 Jan '12 __-- 100 100
4
4
N Y L E & W 1st g fd 78_1920 0- S 1134 11614 1153 J'ne'12 ___„ 1153 11612
8612
8612 Sale 8622
7 8612 8612
Erie 1st con g 4s prior_1996 J-J
1996 j..,j ____ 8512 85 Sep '12 __, 85 8812
Registered
743
4 12 7312 7934
7438 Sale 7414
1st consol gen lien g 99_1996 J -J
7712 77 Apr '12 .....„ 77 77
1996 J -J __
Registered
8913 8912 89
89
1951 F-A
6 8818 91
Penn coil tr g 45
8312 11 81
9118
1953 A-0 834 Sale 8314
50-year cony 45 A
76
1953 A-0 76 Sale 76
Series B
do
44 75 807
8
4
Buff N Y & Erie 18t 78_1916 J -D 105 1093 110 Apr '12 ___ 108141103.2
Chic & Erie 1st gold 5s....1982 11-N 110 .-- 11014 1104
1 110 114
Clev & Mahon Val g 55_1938 J -J 105 __ 109 May'12 ---- 109 109
1935 A-0 12
014 -- - - 124 Nov'12 ...... 123%12412
Long Deck consol g 6s
106 1073
Coal & RR 1st cur gu es_1922 11-N _-__ 107 106 Dec '12 _
8
9912 101 10014 Oct '12 ---- 10014 1013
Dock & Imp 1st cur 6s 1913 J-J
4
N Y & Green L gu g 5s 1946 31-N 104 109 10312 Aug'12 ___ 10312 165
Oct '12 ____ 103 105
NY Sus do W 1st ref 5s_1937 J -J 100 10112 103
8
2d gold 4 Hs
1937 F-A 825 00 10014 Dec '06
87 90
General gold 58
1940 F-A 80 85 8712 Nov'12
Terminal 1st gold 58_1943 M-N 1074 1081 10812 Nov,12 ..... 10812 110
Mid of N J 1st eat 5:4_1940 A -0 -------- 11113 May'12 ____ 11112 11112
2 983- 9834 Dec '12 ___ 9834 10212
Wilk de Ea 1st gu g 5s
1942 J -D
4
4
1926 J-J 106 1093 106 May'12 __ 106 106
Ev & Ind 1st con gu g 6s
1921 J-J 10812 111 110 Dec '12 ___ 110 1123
Evans & T H 1st cons 6s
1942 A-0 987 100 102 J'ne'12 __-_ 10178 10258
8
1st general gold 5s
1923 A-0 10714 --- 108 Nov'll
Mt Vernon 1st gold 6s
Sull Co Branch 1st g 5s_1930 A-0 94 ____ 95 J'ne'12 ____ di 95
,
1 9612
9612
lorida E Coast 1st 4 30_1959 J-D
1 96 9958
ort St 11 D Co 1st g 4;0_1941 J -J ---- ---- 92 Aug •10
1928 J-J -- 7712 7712 Nov,12 . 76 8112
Ft W 4 Rio Or 1st g 4s
fiat H & H of 1882 1st 58..1913 A-0 _,..100 0912 Aug 12 .___ 9912 100
reat Northern953
() 13& Q coil trust 4s
1921 J-J
9514 Sale 9518
99 017 985
s
95 Dec '12 ____ 943 983
Registered-h
1921 Q-J ___
4
let & refund 4 Hs ser A 1961 J J 100 - 1C101 10012 Dec '12 ____ 9934 10114
Registered
1061
9818
2 0758 993i
St Paul M & Man 4s
974 9912 984
1933 J-J
•
1st consol gold Ss
1933 J-J 121 12234 12112 Dec '12 ____ 12112 1255
Registered
1933 J-J -------122 Sep '12 ____ 122 122
2
•
Reduced to gold 434s1933 J-J 10412 10512 104 Nov'12 ___ 1035 10812
8
Registered.
__ -1033 J -J 1033 ____ 10834 J'ne'09 __._
4
-
F
G
BONDS
N. Y. STOCK EXCHANGE
Week Ending Dec 27
`d1
Lxxxxv.
Price
ri Cele 3
7
Dec 27
Range or
Last Sate
zo%'.
Malt ,Vo
Bid
Ask fin,
St P M & It (Continued)
Mont ext 1st gold 4s_1937 J -D 9512 96 9578 Dec '12 ---1937 J -D
Registered
98 J'ile '11
Pacific Ext guar 4s E_
1940 J-J
9238 Itch '11
E Minn Nor Div 1st i421948 A -0 9412 97 97 Sep '12
1922 J -J 11012 _ _
Minn Union 1st g 6s
11414 Sep '12
Mont C 1st gu g 6s,.__1937 J -3 12312 12412 12432 Nov'12
1937 J-J 121
Registered
13614 May'06
1937 J -J 109 i1158 109 Dec '12-1st guar gold 5s
1937 J-J
Registered
53_1938 J-D
Will & S F 1st gold
se6 11
93 Sale 93
Gulf & S I 1st ref do t g 5s_81952 J-J
93
5
81952 J -J
93 96
Registered
ock Val 1st cons g 4;0_1999 J-J
9912 101 101
101
20
1999 J-J __ 100 10012 Sep '08
Registered
Col & H V 1st ext g 4s
-218
1948 A-0 9.
_ 92 Nov 12 ____
Col & Tot 1st ex 4s
1955 F-A 92 _
92 Dec '12
nous Belt & Term 1st 5s
9912 100 10014 Dec '12 ___
1937 J-J
Illinois Central 1st gold 48_1951 J-J 102 __ _ 102 Dec '12 -_-11- Registered
100 Sep '11
1951 J-J
924 Oct '12 ._ _
1st gold :3 Hs
1951 J-J ;di
1951 J-J ____ di 89 Aug 12 _ _.
Registered
.
9312 Nlay'04 1
1951 A-0
_
Extended 1st g 3 Hs
1951 A-0
Registered
11151 11-S
-id 1st gold Is sterling
1951 11-S
Registered
1952 A-0 9512
Coll trust gold 4s
981 Nov'12
1952 A-0 , 9534 954 Sep '12 _ _
Registered
„
8
9512
1955 51-N 9512 Sale 9514
1st ref 4s
1952 J -3
8614 Feb '12
Purchased lines 3 Hs
1953
L N 0 & Tex gold 4s
N -613 -id - 9534
4
953
4
1953 51-N
__ 95 11434 Jan '11
Registered
9478 J'ly '12
1950 J-1)
Cairo Bridge gold 95
_
7518 7512 Nov'12
Litcheeld Div 1st g as,.,,_1951 J-J
Loulsv Div Si Term g 3 Hs1953 J -3 ____ 85 85 Oct '12
1953 J-J
- 85 83 Aug'12
Registered
1921 F-A
_
_ 123 May'09
Middle Div reir 5s
1951 F-A - - Omaha Div 1st g 38
-g1 754 Aug 12
4
St Louis Div & term g 3g,,1051 J -3 __ 77 7512 Mch'12
1051 J-J
73 75
..
Registered
Oct8512
1951 J-J --- 8512
Gold 3 Hs
lulls Oct '99
1951 J-J
Registered
100 Nov 00
Spring Div 1st g 3 Hs
1951 J -J
1951 J -J
Registered
- -1051 F-A 90 923 9212 Oct '12
Western lines 1st g 4s
4
1951 F-A 89
Registered
Bellev & Car 1st 6s
1923 J-D 10812
- 11722 May'10
Carb Si Shaw 1st g 4s
1932 111-S
- -- 0412 J'ly '12
Chic St L & N 0 g 5s_
11314 Nov'12 ---1951 J-D
1951 J -D 110
114 Feb '11
Registered
1051 J-D 80
_ 90 Oct '09
Gold 3 Hs
1951 J -D
Registered
Memph Div 1st g 4s_1951 J-1) -id 9212 9213 Aug'12
1951 J-D
Registered
St L Sou 1st gu g 4s
1931 II-S
_ _ 9512 08 J'ly 08
91 943 94 Aug'12
Ind Ill de Ia 1st g 4s
1950 J-J
4
_ 107 Dec '12
lot & Great Nor 1st g 63_ 1919
, N
98
Iowa Central 1st gold 5s
100 98
19351 J -D
Refunding gold 43
1951 ,11- S 57 58 68 Deo '12
Iamestown Franklin &
c.5 Clearfield 1st 4s
_
94 May 12
1959 J -D
[(an Ne..riscrti 1st gold 3s_ _ 1950 A-0 72 72% 7212
2
ity o e
7212 ---A-0
63 Oct '00 . _
Ref & impt 5s
98
9754 9812 9734
10
Apr 1050 J-J
Kansas City Terml 1st 4s_ 1960 J-J
9412 993, 964 Dec '12 ---f ake Erie & W 1st g 5s.._ -1937 J -J
10612 Dec '1 --_
-Li 2d gold 5s
111041 J-J idd - 1,1 2 104 Sep '1
10414 J'ne'12
North ()hlo 1st gu g 58_ 1945 A-0
2
Len Vail N X' 1st gu g 4 Hi:1940 J-J i7 - 10312 10414 Nov'12 -_
1044 May'12 ____
1940 J-J
Registered
. 4 9618 Oct '12 ._ -913
Lehigh Vail (Pa) cons g 4s_2(103 ,M-N
11234 Oct • Ig ---Leh V Ter By 1st gu g bs_ 1041 A-0
-1941 A-0
11118 Dec '11 _
Registered
Leh V Coal Co 1st gu g 5s 1933 J -J id& -_-_-_-_ 1064 Oct '12 _
1933 J-J
Registered
1933 J-J
1st int reduced to 4s
::::
Leh & N Y 1st guar g 43_ 1045 M-S 90 ____ -di,
Registered
"1945 51- S
El b & N 1st pref es
1914 A-0
2
_ iff1- Feb '10
Gold guar 5s
1914 A-0
_
103 Mch
Long Isld 1st cons gold 5s_h1931 Q-J ____ 10914 10834 Nov'12
1st consol gold Is
93 ___. 9614 Mch'12 ___
h1931 Q-J
General gold 4s
1938 J -D 92 94 93 Nov '1 --1922 31-S ____ 98 9614 Nov'12 _ Ferry gold 4 Hs
1932 J-D ____ 97 9914 Oet '06
Gold .1s
3
1049 11-S 894 03 10112 i ec0
Unified gold 4s
94 L c :12
1934 J-D
Debenture goid 5s
11149 11- S ---- 0458 9412 Dec '12
Guar ref gold 43
1049 /11-S
95 Jan '11
Registered
11014 Nov '06
NYB&MBlatcong5s1935 A-0
1927 51- S 100 103 103 Oct '12
N Y & It B Ist g 5s
Nor Sh B 1st con g gn 5s.o1932 Q-J 10312 _ 1044 Dec '12
1027 II
Louisiana Sc Ark 1st g 5s
-S _
934 9318 Nov'12 ---Louisville Ss Nashville
General gold 6s
1930 J-D 112 114% 114 Nov'12
Gold Is
1937 M-N 11214 - -- 1114 Oct '12
Unified gold 45
9758 26
1940 J-J
975 Sale 0738
8
Sep '12
1940 J-J
Registered
2
07 122
10
_ 1981
Collateral trust gold 53_1931 M-N 10738
1101
E H Sc Nash 1st g as_ _ _1919 J-D 11012 11118 11012 Dec '12
10432 J ia
1 1714 N a ny
L Cin & Lex gold 4 30-1931 M-N
12914 120% Aug'12
N 0 & 11 1st gold 6s_1930 J -J
_
N 0 & M 2d gold lls
1030 J-J 1144
94 Oct '12
Paducah & Mem div 4s 1946 I2 A
1053 Mch 11
4
Pensacola Div gold 6s__ _1920 111-S
5 Je 2
0212 J'ly :1
St Louis Div 1st gold 6s.1921
S ____ 11212 1102s•lp12
S
7012
2d gold as
1980
Atl Knox Sc Cln Div 4s.,,,1955 11-N 01 9212 9212 Dec '12
10 Mp y 1
Atl Knox & Nor 1st g 5s_1946 J -D _ ... 110 10212 A ar 412
Hender Bdge 1st s f g 68_1931 If-S 105
6
0112
914 92 9112
Kentucky Cent gold 4s_1987 J-J
L & N 63 AI & M 1st g 4 Hs1945 51- S 10012 10312
_
891, 19012 ec 42
(lt 12
0312
L & N-South M joint 4s_ .1952 J-J
05 Feb '05
Registered
81952 Q-J
N Fla de S 1st gu g 5s_ __1937 F-A id& 10712 10912 Oct '12
10012 Sep '12
N Sc C Bdge gen gu g 4 Hs 1945 J-J 10112
11014 Oct '12
Pens & Atl 1st gu g 6s___1921 F-A 110
S & N Ala con gu g 5s__1036 F-A 1083 110% 10918 J'ly '12
4
9114 Men'12
L & Jeff Brige Co gu g 9s.._ _1945 11-S
H
Range
Since
Jan. 1
Low Moll
9512 9814
-d61- 9813
2
111 116
12458 12714
iod
11112
-611- -di"
2
-6:734 id"
92 92
92 9618
9938 10014
10034 104
2
-66 - -¶111b.,12
89
9712 100
9514
93
8612
95
0514
9634
8614
991k
8
-947 -6E 7312 7512
8412 8718
83 83
-fg"
,
7512 7512
4
8513 "id3
---621- -6612
4
11314 116
021
921k
-3
8
-62 - 66'
10638 10812
9512 105
58 6612
04 944
71% 74
.d61-2 10024
9614 983
4
10612 110
104 10414
10414 10512
10378 106
10412 10418
9512 9814,
10912 114
1:6612 idi
_
8
-di - -941idi idd 10834 11038
0614 9914
9158 944
9614 98
"do" -id
-
ioi- 104
10414 10712
93 96
11212 11712
4
1103 1121s
9634 9932
9612 98%
10712 11012
11018 11138
1008 105
,
12014 121
11712 11712
9314 96
11212113
6918 69%
91 93
11212 11211
9114 95
10312 104%
88% 9012
1(3E73
4
10022 10012
11014 112
10918 111/8
9114 9114
MISCELLANEOUS BONDS-Continued on Next Page.
Street Railway
New On My & Lt.gen 4 H/3_1935 J-J
83 8712 86 Oct '12
emp J -J
N Y Rys 1st 11 E Sc f
77 Sale 7614
7718 316
30-year adj Inc Is-------1942 A-0 563 Sale 55%
4
57 946
Portland Ry 1st & ref 53_1930 51-N 10034 10118 101 Dec '12
Portland By Lt&Pow 1st Sc
1042 .A 954 96 96 Dec '12
.
ref cony s 1 Is
Portland Oen Elec 1st 5s_1935 J J
St Jos Hy,L, H Sc P lstg 55 1937 M-N
98 Not 'o;
:
St Paul City Cab eons C 5s.--1937 J -J 10312
105 Nov,12
Third Ave 1st ret 45
1960 J- J 81% Sale 8034
8158 195
• Adj Inc Is
8
4
7558 1100
a1960 A-0 753 Sale 743
Tel-City fly Sc Lt 1st Sf.58_1923 A-0 9714 99 98
98
1
Underground of London
4s
9412 95 94 Dec '12
1033 J-J
Income 6s
00
1948
13
90 Sale 90
Union Bice (Chic) 1st g 5s.„_1045
—_ _- 84 Oct '08
United Rys Inv 1st lien coil
Pitts issue
trust 5s
1926 11,-N
8212
9
8112 864 8212
;
Street Railways,
844 8812 United Rys St L 1st g 4s___1034
St Louis Transit gu 5s___1924
76 81%
5112 59% United RRs San Fr s t 48_1927
Va By Sc Pwr 1st& ref 5s___1934
99 101
96
96
1)15
i66-
7912 86
70 8014
9714 99
94 9614
7412 90
---- -824 8612
J-J
A-0
A-0
J -J
Uas and Electric Light
Atlanta G L Co 1st g 53.___1047 J-D
Bklyn U Gas 1st con g 5s__1945 /11-N
Buffalo Gas 1st g 58
1047 A-0
1932 J -J
Columbus Gas 1st g 84
Detroit City Gas g Is
1923 J -J
Det Gas Co con 1st g 5s
1018 - A
Del Edison 1st coil tr Is_,._ 1933 J -J
Kg GLNY lst con C 55
1932(WS
Gas Si Elea Berg Co c g 5s_1049 J-1)
Cr Rap G L Co 1st g 5s
1915 p- A
Hudson Co Gas 1st g 5s........1949
Kan City(Mo)Gas let g 5s....1922 A-0
__
___
67
04
74
87
Sale
95
74 Dec '12
83 Nov'12
67
67
95
95
191 _ _
10618 Sale 161 4 10618
354 62 54 Oct 12
idd idi 100 Nov'12
95 8 Sep 08
5
101%
2
101 idd7 10114
____ 107 10612 Oct '12
103 Sep '12
100
100 (let '09
Jodi;'
id, 10358 Dec '12
___ 983 9812 Sep '12
4
price Friday: latest bld and asked this week. a Due Jan. 0 Due Feb. d Due Aprll. h Due July. g Due Aug. o Due Oct. 3
74
_ 83
17 6412
9 9412
80
85
70
9712
13 0E31 fdffs
54 GA
idd" 10114
a
10534 10612
103 103
10311 lOOls
98% 99%
Option sale.
1735
New York Bond Record—Continued—Page 3
DEC. 28 19124
dA
BONDS
N. Y. STOCK EXCHANGE ;i
....a,
Week Ending Dec 27
Week's
Range or
Last Sas
Price
Friday
Dec 27
,
14
a
al —
Range
Since
Jan. 1
Ask Low
Mid
High No. Low High
__ _ ___ __ _
Airsells RR—Son lines 41_1936 M-N ___ __ __
2512 Apr '09
LT-Lexioan Cent trio c Ils tr roots. .„ .„
-- ---- ---- -„,- ,
1917 A---1-1
Equip & coil g 58
________
131ex Internet 1st con c 48_1977 11-S ---------77 Nich'10
_
1977 11-5 _____ 79 Nov'10
Stamped guaranteed
1027 .1-D — 12318 2412 Oct '12 ____ 12412 129
7s
Minn & St L lit gold
Paola() Eat lit gold 63-1921 A-0 __—__ 11013 Aug '11
66 jag
1939 51-N
99 100 Dec '12
1s$ °angel gold 5s
'12'
697
63
lips and refund gold 4s 1919 M-S 60 Sale 61 4 Dec7934 ___ 5978 81 8
793
7934
i 76
Des M & Ft D 1st gu 18_1035 J-J
4
9512 98 9518 Dec '12 _
95 973
11 StP&SSM con g 4s lot gu.1938 J-J
1941 51-N 95 ___ 9714 J'ne'12 ____ 9714 9714
lit Ohio Terml s f 4s
9614 ___ 9614 May'12
9614 9614
MSS5183 A lit g 4s Int gu 1920 J-J
Mississippi Central 1st 59_1949 J -J _— 95 98% Mch'll __
94
8
-"i iji3 IW
Mo Kan & Texas ist gold 451990 J D 94 95 94
g1990 F-A 7914 Sale 7914
7914
6 791 8418
2d gold 4s
1944 51-N ____ 99 9934 Oct '12 ...„ 0012 11)212
5s
lit ext gold
2001 11-S 78 7814 7714 Dec '12
7714 8112
lit Is refund 4s
8614 87 8614 Deo '12
1036 J-J
854 8914
Gen sinking fund 4 3is
76 78
'1 77 Deo '12
4s_2001 A-0__
St Louis Div 1st ref g
8
-1940 M-N ___ ---- 1047 Sep '12
10178 10538
Dal & Wa 1st gu g 5s
88 Sep '12
2
88 91
Kan 0 & Pao 1st g 4s_ _ _1990 F-A 861__Mo K & E 1st gu g 59_1942 A-0 105 10834 108 Nor.12 ..._. 10618 110
M K 4 Ok 18t guar 59_1942 M-N 10412 Sale 10113 10412
1 10334 10712
0012 104
M K & T ot T let gu g 59_1942 51-S __- 10014 10012 Deo '12
8
Sher Sh & So 1st gu g 53 1943 J-D 99 104 1037 Feb '12 ___ 1033 103 s
7
4
Texas & Okla 1st go g 5s 1943 M-S 10112 10438 101 Nov'12 ____ 10012 10514
106
8 10478 10815
Missouri Pao 1st cons g 69_1920 M-N 10512 10614 106
M-S
9958 Dec '12 __ 9858 1003
Trust gold 5s stamped__a1917
4
___
97 97
a1917 51-S ---- ---- 97 MaY'12
Registered
_1920 F-A 9713 9812 9712 Dec '12 _ 963 1003
lit collateral gold
4
4
58....- 1920 F-A
Registered
-1638 --1
1945 in- S 701 Sale -id40-year gold loan 48
1934 M-N _ _ _ _ 9012 0612 May'll
ad 7s extended at 4%
87
1959 Ai-S 87 Sale 8614
16 gi- -g55
1st & ref cony 5s
8
,
3 918 822
9218
Cent Br fly 1st gu g1s.._1919 F-A 9218 Sale 9218
'
78 81 4'
81 Dec '12
1948 J-1)
Cent Br U P 1st g 4s
Leroy & 0 V A L 1st g 51_1926 J-J --------110 Meh'05 ___ _
4
iii3
Pao 11, of Mo 1st eat g 43_1938 F-A 9413 ____ 93 Nov'12
1938 J -J 100 105 10314 Dec '12 -_,- 10314 10314
2d extended gold 5s
4 17 10212 1063
StL Ir Al 63S gen con g 59_1931 A-0 10413 ___ 10412 1043
8
104 Oct '12 --104 104
Gon con stamp gu g 59_1931 A-0 _-E-1 7753 823
8112
5 8114
1
Unified & ref gold 49_1920 J -J
4
_
8
192:i J-J ---- ---- 807 Oct '12
•
Registered
78 807k
1 8314
318
8314
Riv 4 (1 Div 1st g 49_1933 11-N
2 8212 81
--' Verdi V I & W 1st g 53_ _1926 M-S ----__ 100 Oct '12 ....-- 100 100
4
8
Mob 63 Ohio new gold 69_1927 J-D 1165 1173 1171 Nov'12
117%121
18t extension gold 6s_h1927 Q-J 1121 __ 11238 Dec '12 __ _ 1123811534
1938 Ai- S 8513 8612 8512
8512
1 85 873
General gold 4s
4
Montgom Div 1st g 59_1947 F-A 106 10812 107 Dec '12 _- 1987 19803
0112 127
2
4
58
St L & Cairo coil g 43___e1930 Q-F 8514 ____ 8578 Dec '12 __
92 Nov'12
__
Guaranteed gold 45......1931 J-J 8
1013
4 10118 104
_Mashy Ch & St L 1st 76_1913 J -J 10133 101758 10138
4 10713 1097
1928 A-0 10712 10914 10712 10914
Ll 1st consol gold 59
Jasper Branch 1st g 6s 1923 J -J 111 __ ._ 11578 Nov'10
4
8
Mold 51 W & Al 1st 63_1917 J-J 1045 106 1073 Alch'12 ___ 14/3-4 1.157-3-4
I..2
8 _ ...
J'ly '04
__
T & P Branch 1st 6s_. _1917 J-1 10158__ 113
8614 86 883 86%
857
3
Nat Rye of Mex pr lien 4 3is.1957 J8
787
—.. 8014 70 Dec '12
43_1977 AGuaranteed general
Nat of /lex prlor lien 4 30_1926 .j-J — 100 99 Mch'12._ 99 100
1951 A-0 -,..... 7713 7778 Deo '12 ..„ 771k go
1st consol 43
3
863 -- 3 86 96
N 0 Mob &Chic, 1st ref as 1900 J-J 88 80 4
4_
NO & N E prlor lien g 6s__p11/15 A-0 104 _ __
8714
Term
New Orleans Ter 1st 4s1953 J-J ..... 88 86- Sep '12
86 8612 86
Central & 1111 g 3 30_1097 J-J
86
1 85 8812
N Y
1997 J.j 84 8412 834 Dec '12 -, 83 4 8714
Registered
3
9034
91
1934 11-N 9
8 9034 9614
Debenture gold 43
93 93
---- ---- 93 May'12 _
1933
Registered
4
i3 id
7812
79
14 781 85 I
1938 F-A
Lake Shore coil g 3 30
1998 F-A ..„ - 78 78 Dec '12 ....— 7634 84 1
Registered
7818 Dec '12
78 8212
Mlch Cent colt gold 3 30_1993 F-A 7818 79
1908 F-A --- 7712 78 Sep '12 ____ 7734 7912
Registered
98 ...... 9834 Deo '12. __ 9834 99141
Beech Creek 1st gu g 43_ _1936 J-J
99 May'll _-__
1936 J-J
Registered
1936 J-J 10618 _
2d guar gold 53
1936 J-J
Registered
_ _
_ _
_ _
Beech Cr Ext 1st g 3 10_61951 A-0 ---li- ,
-8
Cart & Ad 1st gu g 4s_ _1981 J-D 83 ____ g8 - Oct '1 -_-:. 8 -- -E
__j
_
Golly & Oswe 1st gu g 59_1942 J -D 108 ___ _ _
1
-Moll & Mal 1st gu g 43_1991 51-5 ....... _ fig% Mch ii _-_-_-_ - --- N J Juno R guar 1st 48_198is F-A 98 __ 105 Oct '02 ____ ---- -2:1
---- 1986 F-A _
Registered
:7.: -8it- -i6 "I
.. 2
N Y As Harlem g 3 50._ _2002 ,n-N 8012 _-___ 8712 Dec
2000 11-N
Registered
N Y 63 Northern 1st g 58_1927 A-0 106 107 108 Oct '09 __-- -__- - --- NY & Pu lst c,ons gu g 491993 A-0 _— 96 9778 Aug'11 ____ _ -- ----___-Nor 63 Mont 1st gu g 59_1916 Am
ii112 Jan '09 -_-_-__
Pine Creek reg guar 6s_ _ .1932 J-D 11912 _
R W & 0 con lat ext 5s_h19.22 A-0 106 log% 106 Dec '12._
107.3-4
Oswe & It 2d gu g 53_e1915 F-A ,--- 10113 101 Meh'12 ...... 101 101
R W 40 T R 1st gu g 53_1918 Ifl-N 10112 ___ 101 J'ne'10
4
Rutland 1St con g 4 30_1941 J-J 92 9738 96 Oct '12__ 94 -iiit-1
83% __ 85 Nov'12 :-__ 84 86 1
Og&LChatn 1st gu 4s g 1948 J -J
Rut-Oanad 1st gu g 49_1949 J-J --92 J no 09
4
St Lawr 63 Milt' 1st g 5s_1906 J-J 1073 ____ 108 Sep '12
i08 - 103 -'
1996 A-0 114 __ In% Meh'12 .._ 11913 119121
2d gold 63
9978 Noy'll
Utica & 1311( Riv gu g 48_1922 J -J 96
'3 88 8714 Dec '12._ -_-_ -87 - 147 1
8
Lake Shore gold 3 3is_ _ _ _1997 J-1)
--- - _- -8718 Dec '12
1997 J -D
- 871 8834
Registered
3
921
1928 M-S 925 9278 9214
3 0141 0412
Debenture gold 4s
9212 32 9112 937
1931 111-N 9213 Sale 9218
25-year gold 4s
8
1931 M-N 02 ___ 93 Oct '12 .__92 9312
Registered
Ka A & G R 1st gu c 59.1938 J-J 105
11112 Meh ii _ __
-Mahon C't RR 1st 59_1934 J -J 110
Pitts & L Erie 2d g 5s_a1928 A-0 10512 --. 105 Apr '12 _ 105 i6S"
13018 Jan '09
__
Pitts MuK 63 Y 1st gu 69..1932 J -J 117
_ 12314 Mch'12
1934 J-J 117
2d guaranteed Os
12S 4 1.14
1MoKees 63 B V 1st g 63..1918 J-J 105
1931 11- S 10618
:Hi'Jaii- 0 --- iff" Ili '
Michigan Central 5s
1931 Q-M 10312.--- 119 J'ne'00
Registered
1940 J-J ---- ---- 98 Apr '12__:
4s
•
1940 J-J ---•
Registered
9812 Nov'll
90 J'ne'08 __
J L & S ist gold 3 30_1951 M-S -,.„
4
3
1952 MN 851- 873 8634 Dec '12
1st gold 3 30
20-year debenture 4s_1929 A-0 .... 881k 8813 Aug'i 2 _
8812 02
N Y Chic &St L 1st g 0_1937 A-0 9913
99
99
1 9712 10053
9834 Nov'12
1937 A-0 ---Registered_
9834 9934
88
1 871, 01
Debenture 43
1931 M-N __ 89 88
12,12
,n-N
_
BONDS
N. Y. STOCK EXCHANGE it r
Week Ending Dec 27
Price
Frtdau
Dec 27
Range
Sines
Jan. 1
IV:41r;
Range or
Last Sale
High No
Ask Lou,
Bid
NYC&HR—(con)—
3
West Shore 1st 48 guar_2381 J-J
98
9612 9814 98
Registered
2361 J-J __ 97 97 Dec '12
NY Cent Lines eq tr 4 30 1923 J -J
10012 J'ly '11
N Y New Haven & Hartf—
Non-conv deben 4s
891 8912 Dec '12
1955 J-J
Non-oonv 4s
8912 90 Sep '1
Cony debenture 354s__....1956 A1-N fig% 90 8614 Dec '12
9
155 J -J
24
Cony debenture Os
125
125 Sale 124
Harlem R-Pt Cites let 45_1954 fl-N 95
9914 Nov'12
-k
1°48 1B & N Y Air Line 1st 49 1955 F-A
991 J'ne'1Cent New Eng 1st gu 49 1961 J-J
9013 92 92i Nov'12
_
Housatonic R cons g 5s 1937 11-N 111
_ 115 Aug'12
N YW'ches &B 1st ser I 4 ;is '46 -J
9734 22
9714 973 97
4
N H & Derby COMS cy 5s_1918 11-N
107 Aug'09
-- - New England cons 5s
1945 J-J
- -- --Conseil 4s
-012 Itch'12
Providence Secur deb 4s_1957 111 N - _
1945 .1.j
83 8134
4 10
813
N Y 0 & W ref 1st g 4s_g1992 5I-S 9212 9112 9213
6
93
Registered $5.000 only_g1992 51-S
9212 J'ne'12
General 4s
____ 89 • 8038 Feb '12
Norfolk Sou 1st & ref A 5s1961 4-D
2
_ 98 98
98
1°55
Nort & South 1st gold 5s 1941
-6612 10612 10234 Apr '12
1
Nod & West gen gold 69_1931 8-1S 120 __ _ 1251 J'ly '1
Improvement & eat g 09_1934 P-A 12118 123 124x May'12
New River 1st gold Os
1932 A-0 120
_ 124 May'12
N & W Ry 1st cons g 4s1996 A-0 9634 97 96%
97
.Registered
98 Jan '11
Div'l 1st 1 & gen g 49_1°94 A-7 928 Sale 92%
1945 J
4 14
923
1932 J-D 11134 Sale 1113
10-25-year cony 4s
4 1113
4 25
10-20-year cony 4s
_1932 54- $ _
116 1124 Dec '12
Pooah C & C Joint 48_ _1941 J -D 92 Sale v2
92
CC 63 T 1st guar gold 59.1922 J-J 10534 _
8
1063 Mch'12
Selo V & N E 1st gu g 44_1989 51-N
.
4
933 --r 95 Oct '12
98 Sale 973
Northern Pao prior 1 g 4s 1997 Q-J
4
9818 62
96%
2
Registered
9634
3 -ggli Sale 68
General lien gold 3s__--a2097 Q
194 Q
6
6818
68 Nov'12
Registered
J- D
St Paul-Duluth Div g 45.1096 (4-P 9378 9513 948 Dec •12
Dul Short L 1st gu 5s___1916 M-S 10012 __ 10112 Oct '12
113 Deo '12
St P & N P gen gold 69_1923 F-A 11212
11538 Aug'11
Registered certifleates_1923 Q-F 11112
St Paul & Duluth 1st 59_1931 F-A 109 __ 107 Jan '12
2 10218 _ 10218 Dec '12
d 5s
92%_ 94 J'ne'12
1st consol gold 4s
2 9118 Apr '11
_
1
Wash Cent 1st gold 48_199 818 4j:g
19487
11114 Oct '12
_ 0.518
Nor Pao Term Co 1st g 63_1933 JJ
9014
Oregon-Wash 1st 63 ref 4s _1961 J-J 90 Og14 9014
100
pacific Coast Co 1st g 5s.._1946 JD 99 10318 100
L ennsylvania RR—
2
10133 10138
1st real est g 4s
10138 _
1176- 110 Mch'1
Consol gold 5s
10214 Nov'12
Consol gold 43
.1:11999892141!53 411-N
997a Oct '12
Convertible gold 330—
2
t
9634 62
-664§air; 9638
Convertible gold 3 30_ o
97 J'ly '12
Registered
1011
Consol gold 4s
iof" Sale 101
Alleg Val gen guar g 45 °11 912
_ 10018 100% Aug'12 __
1 5
1:
DRRR& Bp,1st gu 4sg1936 F-A
Philo Bait & W 1st g 4s_.1943 51-N 9018
102 Jan '03
_
Sod Bay 63 Sou 1st g 5s_ _1924 J-J
Sunbury & Lewis let g 4s 1936 J-J
9014 ____
3
1611- May'12
U NJ 1411 & Can gen 0_1944 411-S Pennsylvania Co—
Guar 1st g4 ;is
103 __ _ 103
103
10214
10214 Dec '1
Registered
89 Sep 12
11
Guar 3 30 coil trust ieg_. 19937 5
11 922 11 4'7
Guar 3 30 coil trust ser B.1991 F-A
86 Nov'12
'Frost Co certfs go g 3 30_1916 11-N
9758 Dec '12
Guar 3 30 trust ctfs C__ _1942 JD
88 Mett'12
Guar 3 30 trust cas
8734 Jan '12
JD
96 Dec '12
Guar 1 5-25_ year g 4s, _1931 A-0
Cln Lob & Nor gu 4s g__ _1942 51-N 90 -- 9612 Dec '11
Ci & Mar 1st go g 4 30_1935 31-N 1013 -- 110 Jan '05
4
CI & P gen gu g 4 ;is ser A 1942 j-J 10212 _ _ 10734 Dec '11
Series IS
_ 10934 J'ly '09
1942 A-0 10212
11114 Feb '12
Int reduced to 33.s1942 A-0
1,013 Oct '12
1948 M-N 9014
Series'0 3 30
1950 P-A 9014 ____ 90 May 08
Series D 3;is
9112 May'12
Erie & Pitts gu g 3 30 13_1990 J-i - 9018 J'iy '12
1940 4-i
Series C
•
1011 Dec '12
Grit .& 1 ex 1st gug 4 349_1941 J -J ioci"
PItts Y & Ash 1st con 59_1927 51-N 105 __ _ _ 109 May'l
10218 J'ne'12
Tol W V & 0 gu 4 30 A1931 J -J 10118
10218 Nov'12
1933 J-J 10112
Serlep 13 4 30
94 6i 95i Oct •12
1942 StSeries 0 48
8
P c 0 & St L gu 4;is A_1940 A-0 10314 1057 10414 J'ly '12
Series 13 guar
1942 A-o ____ 103 10434 J'ly '1
_ 106 J'ne'11
Series C guar
1942 51-N
Series D 4s guar
1945 M-N 9514 95% 97 Dec '12
9514 Sep '12
Series g 3 30 guar g__ _1949 F-A 90
'
Series F gu 4s g
1953 J -D 9514 ____ 96 Nov 12
Series G 43 guar
1057 51-N 9514 ___. 97 J'ly '12
_ 11312 Nov'11
0 St L & P 1st con g 59_1932 A-0 10712
109 Alayll
Peo 63 Pelt Un 1st g 6s
1921 Q-F 10612 _ _
0312 Jan '11
2d gold 4 30
51921 5I-N
5812 Nov'l
Pere Marquette—Ref 49_1955 J -J
591 5612 Nov'12
Refunding guar 48
1955 J-J
Ch & W M 5s
1921 J -I) :_ 98 98 1)ct '12
Flint & P M g 6s
1920 A-0 103%1061 104 Oct '12
1st consol gold 58
1939 111-N ____ 95 96 Sep '12
Pt Huron Div 1st g 59_1939 A-0 ____ 9812 97 Nov'12
Sag Tus & 11 1st gu g 46_1931 F-A
Philippine Ity 1st 30-yr a t 4s_'37 J-J ---- 861 86 Mai•ii
Pitts Sit &.L E 1st g 5s
113 J'ly '12
1940 A-0
11314 Nov'll
1st consol gold 5s
1943 J-J
103
97
needing Co gen g 45
1997 J-J -if Sale 0634
-ILL Registered
96 95 Nov'12
1997 J -J • _
95
_ 8 95
Jersey Cent coil g 4s,._,.,.1951 A-0 _
_ 9673
Atlan City gu 4s g
1951 J -J
t Jo & Cr Is! 1st g 4s
1947 J-J 8718 -- -8812 Dec '12
t Louis & San Francisco—
113%1203 11812 Sep '12
4
1931
General gold Os
4
1131 J-J 1043 10712 101 Deo '12
General gold 58
St L & S F RR cons g 49_1996 J-J 83 8512 83 Nov'12
1927 M-N 82 Sale 8134
8214 62
Gen 15-20 yr 58
4
_993 Sep '12
Southw Div 1st g 5s 1947 A-0 100 _
10
743
1951
7414 Sale 7414
Refunding g 49
8034 Mch'll
1961 J-J
Registered
z
-
S
Low 11133
97 101
90 9812
8912 92
90 93%
86 94%
123 13212
99 9918
9912 9912
9014 9368
114 116
9513 10014
_
-9912 100
81 84
92 96
9212 9212
89% 89%
98 10013
10212 1023
4
12333 12518
124 12688
124 124
96 9978
-67g 94
-8
10712 118
108 117
8373 94
3
106%1063
95 9818
9738 100 4
3
4
063 9918
674 7018
68 68
9418 9612
100 10112
113 11512
iof - 107
10218 10238
9234 94
111 11134
89% 9234
100 101
100 102
108 110
101 104
0912 10012
95% 97%
97 9712
101 10413
99% 10018
65— 164
iof- idgit
10214 104
101% 103
8812 8914
8512 89
9712 9814
88 8814
8734 8734
90 9812
_
-.9114 9114
9018 0114
-11;
1)112 -9
9018 90%
101% 105
4
igI3 10238
3
10238 102 8
9538 953,8
10414 1003
4
10484107'
96
9318
95
97
99
9558
97
99
- - -j
6812 - 934
6238 5938
98 9938
1085$
104
90 100
97 97%
8914 86
113 11314
-66- -9834
95
95
9814
9813
86
8913
11812 119%
104 10812
83 8614
8134 8812
4
993 095
4
7414 8134
—
MISCELLANEOUS BONDS—Continued on Next Page.
Gas and Electric Light
Kings Co El L & P 5s__937 A-0
Purchase money 6s
1097 A-0
Convertible deb Os
1922 M-S
Ed 51 11 Ilitn 1st con g 4s_1939 J-J
Lao Gas Lot St L 1st g 59_81919 Q-F
1934 A-0
Ref and ext 1st g 58
Milwaukee Gas L 1st 43___ _1927 411-N
1948
Newark Con Gas g 5s
NYGELII&Pg 59._1948 J-D
1949
• Purchase money g 45
Ed El III 1st cons g 53_ _1995 J-J
NY & Q El L &I 1st con g 59_1930 F-A
,
NY 63 Itich Gas 1st g 5s__ _1921 11-N
Pacitlo G 63 El Co Cal 0&
Corp unifying 41 ref 59_1037 3,1-N
Pac Pow & Lt let & ref 20-yr
5s Internet Series
1930 F -A
Pat & Passaic 0 & 1 5s
S
1949
104
_104 104
4
fog 1153 113 Dec '12
12212 Dec '12
12112 _
8818
8814 Nov'12
4 . 71013 101 8 10112 102
10014 10112 10034 Dec '12
90 9058 90 Dec '12
10312 ---- 10614 Apr '12
10178
10134 Sale 10134
80
86 80
11113 11318 Mcli'12
9912
9912 Sale 9912
_ 9213 J'ly '09
9458 Sale 9458
94%
95 Oct '12
i66- 1g3 1025 J'ly '12
Gas and Electric Light
101 10512 Peo Gas & C 1st con g 6s___1943 A-0
1947 11-S
Refunding gold Os
113 117
1947 11-5
Registered
12213 124
Ch G-L & Cite 1st gu g 58_1937 3-i
88 8814
Con G Co of Cla 1st gu g 53 1936 J-D
10112 103
Ind Nat Gas & 011 30-yr 5s '36 11- N
10012 102
Mu Fuel Gas 1st gu g 59 1947 51-N
8
8978 903
1919 F-A
10014 10614 Philadelphia Co cony 59
1922 14-N
8 10134 10414
Cony deben g 63
86 8912 Stan Gas& Elec cony s t Gs —1926 J-D
11212 11318 Syracuse Lighting 1st g 58_1951 J-D
1954 J-J
9913 10212 Syracuse L & P 58
Trenton G & B 1st g 53_1049 M-S
Unlon Mee L & P let g 59_1932 M-S
1933 m-N
11 04 9638
Ref & oat 5e
1950
Utica El L 63 P 1st g 5s
1957
Utica Gas 61 E ref 5s
93 95
10
J1025g 10258 Westchester Light'e g Os__ _1950 3.
--
• No price Friday; latest bid and asked. a Due Jan. 5 Duo Feb. o Duo May.
g Due Jane.
116 11578 Deo '12
10114 10112 10113 Dec '12
103 Feb '09
10212
102 101 10238
100 1027 10314 Oct •12
.
.
82 8993 •Mch'i2
10114 Aug.12
21
00
104 12734 Nov'12
i9734
99
sa112 10112 Dec 41
r04e
De° 12
8512 J'ne'12
109 Feb '01
99 _ _ 10012 Aug'12
99 ____ 98 Nov'12
_
101
98 __ 10014 Deo'11
10412 105 105 Dec '12
115% 11712
4
1003 10212
10214 1041$
1011210314
93 93
10058 10114
100 199
25 9734 98
100 101
."
-go
l00l 101
96 98
12
1043 10
534
Is DueJuly. o Due Oat. p Due Nov. a Option sale.
1736
New York Bond Record-Concluded-Page
4
Lxxxxv.
1
BONDS
N. Y. STOCK EXCHANGE
Week Ending Dec 27.
tg
Price
Friday
Dec 27
Week's
Range or
Last Sail
Range
Since
Jan. 1
27;
N.
BONDS
I:
Y. STOCK EXCHANGE -,,
Week Ending Dec 27.
Pria
Frklay
Dec 27
It ek'.
Range or
Last Stgls
I,
d
Range
Since
•
$S L 63 San Fran (Can)
itid
Ask Low
High No. ',no High
Bid
Hi I. •4
Ask LOW
Low High
K 0 Ft S & M con g 68_1928 11-N 11113 113 11278 Nov'12
abash let gold 55
- 112% 118
10514 32 10414 107%
1939 51-N 105 Sale 1043
4
• X 0 Ft 3 1 M Ry ref g 93_1936 A-0 75 77 7814
2d gold 5s
704 13 7614 801::
1939 F-A 9812 09
•
Registered
7712 Jqy '12
1936 A-0
Debenture Series B
/112 771
1939 J-J ___ 105 90 J'ne 2 ...-• 90 100
X 0 61 M It & 13 1st gu 58_1921 A-0 95
---- 10312 1031
lit lien equip s Id g 58_1921 11 :S _8 _ _ .9_91! 893918
10313 J'IY
,
.1 J
_0
c 12 ________ 9814 100
Ozark 63 Ch C lit gu 58 g_1912 A-0 --- 991- 99 Dec '12- 99 100
let lien 50-yr g term 93...1954
8
Dec
___. --...,
JIM S W 1st g 91 bd etts_1989• N 89 8912 89
8938
let ref and ext g 4s
6 89 9212
-J
6212 612 64
1950 j
6512 19 5512 7232
2d g 42 Inc bond otis____p1989 J -J
8112 Sale 8112
4 80 83
Cent i rust Co etis
8112
67 63 8 Oct982 :- -. 637:1 14
9 74
'
8
13
71
4
.
3
60.32
7
01
,
Consol gold 40
24 7812 84'
1932 J-D 8038 Sale 80
803
Do Stamped
---- _ -- 63 6313 Oct '12 -__
Gray's Pt Ter 1st gu g 5s_1997 J -D 9918 _ _ 10118 Apr '0/
Equit Tr ,st Co &Is
613 6718 64 Nov'12 .
4
3914 70
N A & A Pass 1st gu g 4s
15
1943 J-J
85
85
Do St. mped
8734
65 62
8212 20 5013 6952
e F & N P 1st sink t g 5s_1019 J -J
i, ____ 104 Oct '09 _
Det & Ch Ext 1st g 53___1941 j_.j if_ _
_ 107 Oct '12 ___. 106 10714
Seaboard Air Line g 4s
1950 A-0
8613 Oct '12
Des Mein Div let g 48_1939 .1-J
-86 80 Aug'12 ____ (6) 80
11'6111 :
Gold 48 stamped
1 3
1050 A-0 -81 4 -16- 8518
4 8512 90
8518
Om Div 1st g 3 449
1941 A-0 69 ___. 69
69
4
2 6812 713
Registered
1950 A-0
Tol & Ch Div 1st g 4s
1941 5%-S 19 82 80 Dec '12 __-_ 7234 8312
Adjustment 58
01949 F- A 78 7612 76
-i612 26 741k . 4 Wab Pitt3 Term 1st g 4s
1411954 J -D 25 ..___ 30 Dec 12 .__
30 3014
Refunding 48
1959 A-0 77 79 79
7912 10 75 83
Cent 63 Old Col Tr Co certfs-- ____ 27 28 27
2712 44 25 4214
Atl-Birm 30-yr let g 43_61933•S 84 88 88 J'ly '12 -- 8/ 90
_ 28 ___ 28
Columbia Tr Co etts
28
6 25 4112
Car Cent 1st con g 43
1990 J-J 87 __ _ 9312 Apr '12 -- 9234 9312
2d gold 4s
238 Nov 12 ____
112 3
J-13
1959 --1
3
Fla Cen & Pen 1st g 5s
103 May'll
1918 J -J 10314
Trust Co certfs
2
2 14 2 Dec '12 ---17
3 312
1st land gr ext g 55
Wash Term! 1st gu 3 443_1945 0-- A 835 _ _ _ _ 100 8 se t :11 --1930 J -J 10314 ____ 104 Nov'12
HI; 101
873 Oep 1
-Consol gold 5s
107 J'ne'12
1943 J -J 10514
let 40-yr guar 4s
107 107
-- 6712- - ;8 1651945 F-A 97% - Ga 63 Ala Ry 1st con 5s_o1945 J-J 108 10478 Nov'12
West Maryland 1st g 4s
84
17 826 8819
1952 A-0 837 '
8 Sale 83%
Ga Car & No 1st gu g 58_1929 J-J 10412
_ 10134 Sep '12
4
21'38 12573 West N Y & Pa 1st g 53_1937 J -J 10634 _._ 1063 Dec '12 --__ 109 1082
47 4
%
Scab 63 Roa let tis
16618 105 May'12 -- 105 10612
1028 J-J __
Gen gold 4s
;17 ____ 86 813
02
1943 A-0-- 8614 3848
Southern Pacific Co
Income 58
Feb
----------d1943 Nov -__- -Gold 4$ (Cent Pao coil) _k1949 J-D 9112 9212 913
Wheeling & L E 1st g 5s_1926 A-0 10113 _ __ 10113(Set ';2- 104 10512
4
9 88 98
9218
Registered
k1949 J -D
92 Dec '12
Wheel Div let gold 53_1928 J-J 100 103 100 Deo '12 .-- 99 100
02
91
20
-year cony 4s
g1929 11- S 921 Sale 0213
Eaten & Imp gold 53____1930 F-A 99 101 102 J'ne'lo ____
923 139 9078 97
4 Cent Pac 1st ref gu g 93__1949 F-A 95 Sale 95
1 9-1
95
RR let consol 43
97
8014 83 81 Dec '12 • -_- -if- --riE1949 11-S
12
•
Registered
20-year equip s t 53_1922 J-J 97 -___ 9812Feb '11 -..
1949 F-A 9412 J'ly '12 --- 9112 1111.
Mort guar gold 3 44s__k1929 J -D - --- 91
9o12 9112 Winston-Salem S B 1st 43_1980 J-J
0013 Oct '12
89% 91
90 4 Nov '1 2 .... _ -J(137 -Oi 3
1 -.
Through St L 1st gu 43.1954 A-0
89 9272 Wis Cent 50-yr 1st gen 45 1990 J-J
91 Nov'12 _ _
01
8
905 91
9012
9013
1 8934 9332
CT 11 &SA M & P it 53_1931 31-N
2 10434 107
Sup &Dui div & term 1st 43'38 n-N 89 9014 89 Dec '12 ---_ 80 9212
10512 10484 1043
4
Gila V G 63 N 1st gu g 53_1929 n-N
- 10312 10218 J'ly '12 --- 10.23 10434
Nous E & W 'I' let g 5s_1933 11-N 103
103 Dec '12 ---- 11)3 105
_
Manufacturing and Industrial
1st guar 55 red
575 GO% 57
1933 M-N 103 105 10414 May'12 --- 10414 10114 Allls-Chalmers 1st Is
1936 J-J
57
7 52 6714
N & T C 1st g 53 int gu 1937 J-J 10912 110 10914 Sep '12
1
Trust Co etfs deposit
199: 93
031 111112
5713 Sale 58
5758
9 58 61
•
Gen gold 4s int guar 1921 A-0 9214 0414 9484 Dec '12
Am Ag Chem 1st e 5s
1028 A-0 1007 1013 101
10118
2 10-37 10234
8
Am Cot Oil ext 4545
Waco 63 N W dlv 1st g 63'30 M-N 114 118 11914 Meh'10
1915 Q-F 9814 97 983
9634
9
5 9618 0811
A._ & N W let gu g 5s
1941 J-J 102 ____ 105 Dec '12
Debenture 53
i6i 10712
1931 M-N 931 95 9434
943
4 10
11112 11134 Aug'12
1 113., 11 13 Am Hide 'S I. 1st efg 0_1919 11-S 10038 10012 10014
Morgan's La 63 T 1st 7s 1018 A-0
10014
1 98 19112
9 4( 12
21
15
1st gold Gs
4
1 10714 10714 Amer Ice Scour deb g 6s
1920 J-J 1063 ____ 10714
10714
1925 A-0 73 75 73 Dee '12 _ 7212 82
No of Cal guar g 5s
112 Feb '07
1038 A-0
Am Smelt Securities s I 63_1926 xs 19013 sal12 1027
F- A 03 104e 0 4
1.
,
1031
9 1 10 102 106
,
Ore & Cal 1st guar g 5s 1927 J-J 10118 ___ 101 Oct '12
- Am Spirits Mfg 1st g 13s___ _1915
1 9912 101 ,
So Pao of Cal
-Go g 5s _1937 1I-N 105 __ 116 May'07
Am Thread 1st col tr 9s
90 N e v 3
1919 j_ .r _ __ _ 53l2 12312 Doe , 12 -__ 9258 95
'
So Pao Coast 1st gu 4s g..1037 J-J
91
9110. Sep '12
-11171- 911 Am Tobacco 90-yr g 6s
2
1944 A-0 _.- 12112 11912 Dec '12 --_- 1187 12112
8
• San Fran Terml 1st 48_1950 A-0 8778 Aiiie 8758
2 s'7112 92
875
Registered
1944 A-0
1 187 1211
07 213
8
:
Tex & N 0 con gold 53 _1943 J-J 10012 101 10158 May'11
Certificates of deposit
101 101
11912 Sep '12 -----.:
9314 Sale 93
go Pao RR 1st ref 4s
88 9278 95 8
1955 J -J
9314
Gold 9s
'1 Dec
8
1951 F-A ---- ---- 96 2
_-__ 9178 9714
Southern
Registered
1951 F-A
____ 053 'no 12-_ 924 9558
8J
1st consol g 58
1994 J-J 108 Sale 108
10814 32 10513 10818 Am Write Paper 1st 51 5s 1919 J-J
881 8913 88
8812
4 88 913
•
Registered
_ 105 Sep '11
Ralciw Loco Works let 5s 1990 11-N _,.:._ 10234 103 Sep '12 .... 1023,1 104
1994 J -3
• Develop & gen 93 Ser A_1956 A-0 fife Yale 7714
268 77„ 2
85 4 814 Beth Steel 1st ext s f 5s
,
78
1926
Sale
• Mob 63 Ohio coil tr g 4s 1938 Ni-s 8512 8612 8512 Dec '12
lst & ref 5s guar A
1942 j
1-j 8114 Sale 95
1--N7%
3
85
85114
95 2
8 95 1112
7 8312 8
• Mem Div 1st g 4 44-5s
1996 J-J 10718 ___ 10718 Dee '12 ---- 1071 111
Cent Leather 20-year g 5s 1925 A-0 937 9112 937
14 9134 9614
94
a
• it Louis div 1st g 4s
88
_ 88 Dec '12 --- • 8714 9014 Consol Tobacco g 4s
1951 J-J
1951 F-A ____ 9713 96 Dec '12 --__ 0134 97
• Ala Con R 1st g 83
10514 Sep '12 -- 10514 1053
1918 J-J 10514 _
Registered
i
1951
/ At) & Daily 1st g 43
__ 2012 Nov'1 1
8438
Corn Prod Ref s t g 53
1948 J -J
7
F A
1031 I%-- N -55 4 -56 953 Dec :12 .-. -... -.5E1- -0 -2 -7
-3- - 77 4 N y '
. 2Q48
82
_
8214 Feb '12
1948 J -J
1st 25-year s f Is
-El- -014
4
10 04 0612
1934 51-N __ 937 94
91
8
• Ati & Yad 1st g guar 4s 1049 A-0 8313
Cuban-Amer Sugar eoll tr 63 1918 A-0 _ 96 06 1 Nov'12 ._ _
96 9712
,
qi
DIstil See Cor cony 1st g 53_1927 A-0
• Col & Greenv 1st 63
_ 1(3E34 DeCr1916 J-J 105
6914 25
69 6813
7814
• X T Va & Ga Div g 53_1930 J-J 105 107 10612 Oct '12
10612 10814 E I du Pont Powder 4 40_1936 J-D 88-13 88 3714 Dec '12 ---_ 68 9212
8634
847g
•
Con let gold 58
1956 111- N 10914 110 10914 Dee '1 ---- 10912 11184 Gen Electric deb g 3 44s
1942 p _ A _ _ 70 18312 Nov 12 00
:
l037 - 80 84
2
10-yr g deb 55
E Ten reor lien g 55
105,q 106
10518 J'ly '12
1938
•S 10913 _
1917
18112 Oct '12 --. 16312 182
Ga Midland let 38
Debenture Is (rects) __ _1952 1,11 ,4 1 18 Sale
1946 A-0 64 8714 64 Dec '12 ---- 6312 611.
:
11
8
3
17 10212 1041
• Oa Pao Ry lat g 68
1922 J -J 10978
10978 Dec '12 ---- 10972 11212 Gen'l Motors 1st lien 68
1915 A-0
13 99 9312
9834
7 9813 1007
• Knox & Ohio 1st g 68_1925 J-J 110 ___ 114 J'ne'12
Ill Steel deb 9
III 115
1940 A-0 887 Sale 8878
8878
2 1.87 9234
2
Mob & [Mr prior lien g 53_1945 J-J 105 ____ 10513 Nov 12 ---- 10513 10512 Indian, Steel let 53
1952 M-N 1007 Sale 1003
47 lel 10158
4 101
Mortgage gold 95
79 ___ 7712 Dec '12
Int Paper Co let con g 6s_1918 F-A 102 10212 102
1095 J-J
10214
4 102 10434
. Rich & Dan con g 63
19 I 5 J-3 101 10312 102 Oct '12
Consol cony s I g 5s
11)2 111- 2
7712 77 1
j
1935 J-J
86 87 86 Dec '12 .._ . 8413 917
• Deb 55 stamped
1927 A-0 101% _
10434 Apr 12 ---- 104 1043 Int St Pump 1st 31 53
9312
4
1929 11-S 8812 89 89 Dec '12 -___ 89
Bich & Meek 1st g 4s
1948 14-N 713 __ 73 Sep '12 ---- 73
4
Laelcaw Steel 1st g 5s
73
1923 A-0 _ _ - 97 95
9612 17 04 9737
So Car & Ga let g 5s
1919 11-N 10238 ____ 10233 Nov'12 _--. 10214 104
let con 5s Series A
1050 11-S 7812 Sale 7812
7812
5 77 8212
, Virginia Mid ser 01 68....„1918 M-S 104 ____ 112 Oct '00
5
-year convertible 5s
1015 M
94
-S_ 9312 9312
39 9012 9(3
, Series D 4-55
1921
Ligg & Myers Tob Co7s tpy bds•S 10334 104 1033.1 Nov'12 1.6i371 103
4
183 23
,
ii612 Sale 11912 11912 12 18 3 100)4
; Series el 5s
1926 M11- S 10412 _• 10534 J'iy 12 --- 10534 1053.
5s temporary bonds
- 9634 Sale 063
9712 33
4
; Series F 5s
1931 M-S 10412 105 105 J'ne'10 ._
Mexican Petrol Ltd cnv 6s A '21 - 10114 101 Dec '12 ---_ 95 10314
A-0 100
I, 814
_ 10814
General 5s
10814
Nat Enam & Stpg 1st 53_1929 3-0 933 95 95 (let '12 ---- 93 05
1938 M-N
4
: Va & So'w't 1st gu 53_2003 J-J 108 1
-08-12 109 Dec '12
061-2 i0'4-4 Nat Starch 20-yr deb 5s.._ _1030 J -J _ . 8812 893 Sep '32 -_ _ 8) 8934
7
0 169
4
1,
4
1st cons 50-year 5s_ _1958 A-0 95 953 95
05
1 95 9784 National Tube 1st Is
14 9838 10113
5
1952 51-N 04 8 Sale 9812
985
_ 0312 Sep '12
• W 0 & W 1st oy gu 9s
N Y Air Brake 1st cony 63._1928 ,11T 10014 1017 10114
1924 F-A
.
.
10114
1 07 103511
102 Nov'12 -.-- 122 103
- -- - 00 8:14 P Lorillard Co 7s tem'ory bds_ -i' West N C 1st con g 133
1019 J-J 101
l207121 12118
12118
5 111)181233
4
103 10212 Apr '11
ane Internat 1st g 5s_1955 J -J
Is temporary bonds_
07 9714 97
9714 14 0118 9912
,
r A of St L lst g 4 448_1930 A-0 10214_ 10331 Oct '12
By Steel Spgs 1st s f 5s
10;13 16E
J4
1921 - ..:Y 9714 973 98 Dec '12 • -- _ 97
9812
'
-1 1st con gold 5s___1899-1944 F- A 108% 1 -112 111 Aug'12 --- 11034 11217 Repub. I & S lstaccol tr 5s 1934 A-() 1027
5 Dec '12 -__ 102%104
_ 103
Gen refund s I g 4s
9212 9318 9438 Oct '12- 94 06
1953 J -J
10-30-year 5s s f
1940 A-0 9118 _- 9113
918.1 11 003 933
9114
11
St L M Bge Ter gu g Ss_ _1930 A-0 103 106 10618 Sep '12 ---- 10612 1071 Standard Milling 1st 58
1930 SI-N 87 88 88 Dec '12 ------ - 901.1
Tex & Pao let gold 5s
2000 J -D 105 10758 106
1s
1 108 11012 Me Texas Co cony deb Os_ _ 1931 J -..1
99 sale 9884
108
45 9412 10212
99
2d gold Inc 58
45 _
51 Nov'12 ---- 40/8 51
q2000 Itch
Union Bag & Paper 1st 53 1930 J-J
0013 91
92 Dec '12 --- 00 9413
La Dlv B L 1st g 5s
9912 Apr 'II
1031 J-J
Stamped
05
1930
90 92 Nov 12 --- 47 9412
_- W Min W 63 N W 1st gu 5s_'30 F-A
10912 Nov'04
S Leath Co f deb g 63
1913 iticiq 11)13 10034 lows Dec '12 - - -- 100 102
Tol & 0 0 let g 5s
1935 J-J id614 i6612 10618
2 16E1; 1661 U S Realty & I cony deb g 5s_'29 J-J
10614
88 89 873 Dec '12 ---- 8712 91
4
;
• Western Div 1st g 5s
1935 A-0 10618_ 11/34 J'ne 12
10734 10734 U S Red & Refg let g 63_1931 J-J
25 30 30 Oct 12 ..... 30 50
General gold 58
1935 J -D 103 lo14
U S Rubber 10-yr coil tr 6s_1918 J-D 1023 Sale 10213
103 Nov'12 ----d
101
10278 18 10212 105
4
Kan & M 1st gu g 93
1990 A-0 •
Registered
- 9112 9112 Dec '12 ---- 9114 93
1918 J-D __..
10318 Jan '10 _.
,
-year 5s
2d 20
1927 J -J
9713 983 983 Dec '12 ---_ 0714 991- U S Steel Corp-Jeoup
4
4
1I-N 101 - ale 1003
10188
.
Tol P & W 1st gold 43
S t 10-60-yr 531reg __d1963 11-N -------10118
9013 94 93
1917 J-J
93
2 00 9173;
Tol St L & W pr lien g 3 443_1925 J -J
84 Sale 81
84
5 84 8717 Va-Car Chem 1st 15-yr 53 1923 J -D 0778 Sale 9712
7
On
10118 1718 11°601-811 003
50-year gold 48
) 2 44:11
°6
1950 A-0 533 Sale 533
:
58
4
1 1 07 : 1 06)!
16 533 695N West Electric 1st 5s Dec 1922 J-J 10118 10214 10113
4
101%
9:1)2713.91
Coll tr 48 g Ser A
1917 1 A 68 8
8
8512 63 Dec '12
Westinghouse E &Met 5s_1931 J -J
09314 43 9214 96
2
93 Sale 927
Tor liam & Buff 1st g 4s_h1996 J -D 89 ____ 89 Dec '12
10-year coil tr notes 5s 1917 A-0 96 97 9/ Nov'12 ...- 9612 93
Ulster & Del 1st con g 58_1928 J-11 10278 10312 10313 Dec '12 ---- 1031100
elegrapli & Telephone
. 1st refund g 4s
20
Am Telep & Tel coll tr 4s._1929 J_ j 8878 Sale 883
1952 A-0 - 88 8512 J'ne 12
8878 _52_ 8078 19118
4
. 9% 0
8
Union Pacific
Convertible 43
8 10884 115
1936 M-S 10912 Salo 10912 110
5s
1st RR & land grant g 4s.1917 J-J
988 Sale 0813
9878 72 0813 10211 Chicago Telephone 1st 53_1923 J -D 10013 10114 • __ _
,Registered
1947 J-J
9814 ___ 9838 Nov 12
_ 9812 10178 Commercial Cable let g 4s.2397 Q- J
3 78 8512 "8217 DeC)'12 __ -gi1- -gil;
20-year cony 4s
1927 J -J
Registered
961e Sale Ms
9714 155 95 104
2397
1st & ref 48
02008 11-s 9512 Sale 9512
8
23 95.3 9774 Keystone Telephone let 53_1935
957
Ore By Fe Nay con g 98_1996 J - D 9314 Sale 9314
9314
3 9112 961q Ibstropol Tel & Te! 1st s I 53 1918 in-N 101 il)ilL 10112 Deo '12 -_-_-::: 10113 103
• Ore Short Line 1st g 6s_1922 F-A 11114 11112 11114 11114 11 111 11334 Mich State Telep 1st 5s
0
1929 F-A 0813 09 7 144 N av 'l i _____...
1 3 Nio y l2
1st consol g 5s
,
1946 J-J 109 ____ 10914
N V &NJ Telephone 5s g_1920 M-N
10014
3 12sit 112
Guar refund 9s
1929 J -L) 92 Salo 92
92
12 9034 953 N Y Telep 1st & gen 514 449 1939 St-N "07 - Sirie 97
4
97 14 10 -9'6,34 i667's
Utah & Nor gold 53_1928 J -J 104 _
Pao Tel & Tel 1st 53
108 May'll
1937 J-J
9
93
8
814 32 0 73 1.1)0
9
1)918 Sale 0938
4 984 1 0114
83
1st extended 43
South 13ell Tel 'ST 1st s 53_1941
1933 J-J
9112 139
ljandalla cons g 48 Ser A_1955 F-A
94 Deo 12
8
94 -96-5- West Union col tr our 53_1938 j-j 10 4 _i !10014
10913
1 1 f
1)
J -J
2 10914 10312
v
Consol 48 Series 13
Fd and real est g 4 443
1957 M-N 933 94 943 Nov'12 ....„ 92% 9712
s
4
4
1950 111-N 943 __.._ 948
9518
2 94%10012
Vora Cruz & P 1st gu 414s..1934 J-J
Mut tin Tel gu ext 53_1941 111:1 _0-:::: 10414 J:n4:12 _____ ..1.._66;
93 98 Oct '12
,
913 94
4
6
.
1
_
11
.6
)
Northwest 're gu 4 14s g_1934
)
XNEODS BONDS
-Concluded.
M1SCELL
w
--
•
•
l
?"-.; -gi- --_-: N12'Avg:11 ---- -gi- -kir
Coal & Iron
Buff & Susq Iron s I 55____1932 J-D
a1926 11- S
Debenture 55
Col F 63 I Co gen s t g 53___1993 F-A
1919 31-N
Col Fuel gen 83
Col Indus 1st & coll 55 gu_ ,,1934 F-A
1935 J -D
Cons Ind Coal Me let 5s
Coos Coal of 141d 1st & ref 534 1950 J-D
Or ftiv Coal 63 0 1st g 6s__h1919 A-0
Kan 'SIlO & C 1st s f g 53_1951 J-J
Pooah Con Collier 1st s t 58_1957 J-J
St L Rock Mt & P let 5s
1955 J-J
Tenn Coal gen 5s
1951 J-J
• Birm Div 1st consol 68_1917 J Tenn Div 1st g 6s
a1917 A-0
Cab 0 M Co lst gu g 8s ,,1922 J-D
Utah Fuel 1st g 53
1981 51-S
Victor Fuel 1st s I 53
1953 J-J
,Va Iron Coal & Coke let g 531999 61- S
Miscellaneous
Adams Ex coil tr g 48
1948 M-S 83 85 83
83
1 81 884
Armour & Co 1st real est 434s'39 J-D 9183 Sale 9114
0 90 9214
915
2
97 i1163- Mush Terminai 1st 45
1953 A-0 _8_9_ 00 9613
95 8
9
Consol 53
10714 10784
1955 J-J
Nov 9
8 12
'
Bides Is guar tax ex _,,1960 A-0
98% 9784
11 7212 8514
- 07 97 Nov'12
Chino Copper 1st cony 68..1921 J-J 17614 187 1080
06
514 55 116 200
05
1 80
00434 1005
6 198 1'18 199923
1 068 13 10 4
Inspir Cons Cop 1st Gs mots) __
i
93 91
Int Mercian Marino 4545
1922
37 03 70
647 6518
0734 JS1 Int Navigation 1st a I 5s
1929 F-A
7912 Sale 7918
7912
8 _7 3 i(6.
671i 8 14
64 3
2
lige Bond (N Y) 45 ser 2_1966 A-0
8112 8912
-7012 8412
10-20 yr 53 series 3
1932 J -J
6 _12 7 : 803 e - 2.
_6 :6
25 1(1118 1037 Morris 'S Co 1st 51 4 44s
:A :
2
1939 J-J : : 6- 661. D4 12 -- --..
89l2 8972
.
102)2 10412 N Y Dock 50-yr 1st vr 4s...1951 F-A 81
Niag Falls Pow 1st 5s
10134 101
:
e .
8
0_8_ 0213 D ' 2
1932 J -J 10034 18218 182 Dc 8 12 L. 3 100702812 1094382811442
....
.
Ontario Transmission 5s......1995 11-N
Pub Serv Corp N J gen 53._ 1959 A-0 -iiiia ,ale 92
9214 201 92 9414
'1'2
Ray Cons Copp-..? 1st cony 831921 J
____ 83 855 Oct8634 86
119 120 120
12012 29 112 130
96 9'7 07 Dec '12
9412 9812 Wash Water Pow 181 5s__ _1939 J-J 100 ____ 102 Deo '12 ___ 102 104
.1No Prim FrldaY: latest bid and asked aDue Jan dDue AprIl eDue May gDue Juno hDue July kDue Aug oDuo Oct dDue Nov Otte Dec sOption sale
92 rile '22
91 Nov'll
98 102 98 Dec '12
10714 J'ne'12
828 Sale 8212
4
84
80 843 85 J'ne'11
4
.-- 94 93 Oct '12
_ 10234 Apr '06
_
93 Dec '12
87 88 88 Dec '12
7912 7912 Dec '21
78
103
10212 103 103
102 10338 10214 Dee '12
10112 103% 1014 Dec '12
19312 110 110 Jan '09
97
98
1737
CHICAGO STOCK EXCHANGE-Stock Record.
STOCKS-HIGHEST AND LOWEST SALA PRICES
Saturday
Dec 21
.
027
*85
89
26
914
.312
*18
*38
*9
*50
_
16
89
2678
914
413
20
4012
10
55
*27..
0
00 .. 1;
8912
*87
2612
25
*9
012
*312 412
*18
20
4012
*38
1014 1014
*50
55
IVednesday
Dec. 25
Tuesday
Dec 24
tionday
Dec 23
_
*27
iij
*85 .
*87
8912
2318 2514
*9
912
*312 413
*18
20
*38
4012
*10
1012
*50
55
31
32
31
3112 3073 3114
117 117
11614 11634 *11512 11612
*455 480 *455 480 *455 480
*13318 134:8 *13318 134 8 *13318 13458
,
5512 5512 55 55
*53
55
*113114 10312 *10114 10212 *100 10212
*13913 14012 *13913 14013 *140 141
65
67
65
65
65
65
;iii ' i- ;ail Ili- ;OF iii2
i
58
*55
*55
58
58
*55
53
___ ___ *51
5112 52
le1
n
so ' ifti- *i133- 210 *iiii ifel
.
14213 14212 14212 14212 143 143
1312 *1312 14
*13
1312 *13
Thursday
Dec. 26.
Friday
Dec. 27,
sates
el du
Week
ShIres•
•iii- fsci- *122 fir *Hi" fii"
*iii*122 125
125 *122 125
120 120 *115 120
116 120
11714 11714 *11714 11812 *11714 11812
6212 6212 *62
6212 6212 6212
----_ ___-- ------*9112
-- *9112
-- *9112
-11314 114
11314 11312 11312 114
*--- 8412 80
811s *80
85
09
9812 .98
0812 *98
*98
91
*90
01
*90
91
*90
*10012 10112 *10012 10112 *10012 10112
205 21012
20484 206
204 205
*123% 12418 *12312 12418 *12312 12418
iiirr ioF faCi *NA 1E 1
- 1245 245 *230 245
245
108 *107 108
108 108
20012 *199 200 *107 200
____
___ __
'
01% 112 *118
112 *112 112
6912 6713 6878 6733 6712
68
12
12
12
*11
12
*11
iiiii*230
*107
1997
8
Highest.
Pries
Friday,
Dec. 27,
8
4
r0714
Lewes.
Week's
Range or
Last Sale,
.„...
Highest.
32 Deo
94 Nov
101 Aug
3778 Dec
1212 ktig
712 Aug
25 Feb
7213 Feb
1314 Feb
60 Jail I
ri
1212 May
93 Deo .
301 Ooli
133 Noy
79 Feb
113 May.
15214 J'ne
5914 Moll
57:4 MO
8832 Deo ,
82 Feb
5512 Feb
14114 No
180 Deo
1313g J'ly
1534 J'ne
78 Jan '
11034 NOV
103)4 Deo
70 Jan;
129 Ala,
14212 Dec
'
130 Melit
120 Me..16'
120 Moll'
• ",
108.14 Jan
.
10234 Jan ,
122 Mell
10i J'ne
212 Deo
10712 3'17
.
7 Jaii
.
8173 Feb
"5 .lah
Chicago danics and Trust Companies
LI'ds
Sold
Range
for
Year 1912
High No ham High
Bid.
Ask Low.
J
Apr'12
1
91
91
Am Tel & Tel coil 4s.._1929 J
7
012 9214
Armour & Co 4 348_1939 J -D 3-150i8
0113
9118
£8214 8214
Auto Elect let It Os_.. 1928
8214 Aur'12
3961$ 9618
(11 Gas & El unit&ret 5s'37 It - N
961 :.fav'.2
0 loago City Hy 5s___1927 I? A 310114 Sale 10118
101% 18 101 103.
loOlty&Oonftys 5s.d1927 A 5 8413 87
86
Oct'!815
2
92%
Chleitgo Elev Fly 5s...1914 J -J t 96:4 -- 9712 Doe'12
9678 99
Chic Pno Tool 1st 5s_a1921 J - J
95 Do '12
00
95
-A 9914 Sale
1927
Chicago Itys Ss
99%
9914 25 98% 10114
94%
•Qjsio Rys 5s_serles "A" A- / 94% Sale
95
8 0418 97
91338 Jae'12
lo Rys 45..serles "A" A 9614 9738
1:10 Flys 45__serlos '13" J -D 118 §iie
1
8518 41 5213 91:8
8
412
hlo Sys 4s_seriers "0" -A 9213 9413 9418
9413 10 93
9518
_
100
1913 F -A
Jae 12
ic Rys coil 138
100 100
73
- J 3 725s . 12 7213
73
80 70
Chic By Pr in Mg 48..e'97
85
46% 4912 47
47
2 42
60
Chic) By Ad, Inc 4s.e1927 Mayl
4 11 100% 10314
8
Chicago Telephone 58..1923 J -D 1007 Sale 100% 1003
3 96% 99:8
9618
9618
Clear° Gas Co ref 0 1L1032 J -J
102
14 10134 103:4
10178
00aimonw-Edison 5_1943 In
:101i2 102
Commonw Elea 5s.b 1043 si - S 3101 10138 1007 I) e'12
100:4 103:4
1 998 101:8
Cudahy Pack 1st It 58.1924
- N 30934
4
99:4
99:4
107 11014
Dia Match Con db 6s.._1020
t 108 10918 10814 Dee'12
- Gen Mot 6% 1st L notes'15 A .99:8 9034
4
---- 993 Apr'12
Ind Steel let g 5s_1952 M - N
r10114 10112
---- 10114 May'12
1st g Os_1028
Do
Xat liar 3-3rr 5% g notes'15 F -A 9933 99% 10033 May'12
c10012 10033
St'l le. M c 6s 1028
105% Apr'12
r10518 10518
Kan City My & Light
1913 hi - N
90 Chien
• Co Os
80
9414
1028 J -J sidle 58 - 88 Sep'12
1,ake St El-lst 5s
8714 90
8012
8012
Metr W Side Si let 4s_1938 F - A 1 8012 Sale
8012 85114
7714 Deo'12
1938 J -J 3 7714 78
Extension g 4s
7744 83
104% Apr'12
Mil El By & 1.6 let g 50926
-A
r10478 1047
4o rol & oat 4 348_1931 •I - J
98 Apr'12
495
95
do gen & ref 56_1051• -I)
;
Milw Gas Lt 1st g 1s.1927 It - N
SOle ANY I
£393 9Q1
4
1932 J Morris & Co 4 %:
Dee'll
88
87:4 90%
1004 May'12
3
Nat Tube 1st g 5s_ _ _ _1952 fl - N
210034 10114
Nor Shore El 1st g 58_1922
10614 Apr'12
210314 10314
10033 Apr'12
do lot & rot g 5s 1940 A
210033 10038
Ijor 811 Gas o III let 58 '37
9514 SrP'12
,
9513 9718
10014 July'12
.
1
orth West Si let 48_1911 4
10014 10014
99%
W
99%
&Coke Co 5s 1928
2 9913 10012
pen Gas 58
-N
9612 Drc'12
1945
08:4 99
92 May'12
& El ref g 58_1942 J - J
29178 9218
ao TeeT let coli tr 58_1037 J - J
100 May'12
r100 10013
100% Mole00
arsouts-Taft 58
1916 J 4.40s
9613 Stele10
LI - 8 *94
4.60s Series E
91 Feb'10
AI - N t 95
4.80s Merles
5814 Npv'll
9014
•-N
1151 Sep'12
Petlo Gas L & 01st 68_1043
11513 1181,
- - 117
RefundInE gold 5s...1047
10118 Sale 10118 10112 40 100% 1024
4
hlo Gas &C 1st Is 1937 J
10218
s
102 103:4
110214 1023 10214
riven Gas let 58_1936
3100 10212 10114 Se1i'12
10114 103
Filet Gas 10521947• Doe'12
10112 101
2100
100 10112
ti _§`erv Co lLst ref If 5s '66
0812 97:4 Oct'12
95
29634 100
Son Ze9 T & T let at Ss '41 J - J
10014 May'12
c100 10014
91% Dee'12
South Side Mei/ 43s_1924
92
3 91
9112 0614
Swift & Q4) let g 53_1914 i
3._
987
s 9923 pou'12
902 100:4
4
Tray 'B y & Lt coil
1923
55
0814 Apr'12
ust lien f
x98
9814
A
(Loop) 53_1942 A
U
85 Apr'12
85
89
utn 151 g 56-1922
100 May'12
U
z99% 100
U P 81011 10-eo-yr ef EC 59-10212 4Pr'12
x10212 10238
Western Eleo Co 52......1922
Ion Oct'12
10034 103
Moto-Accrued interest mug,
auded t o all Chicago bon U prices.
8
Lowest.
Range tor
allow
Year 1911
Railroads
Chicago Elev Rys gem__
Last Sale 25 Nov'12
21 J'ly
25 Nov23 40 Apr 24
Do prat
90
106
*85
90 .85
85 Ply
90 May27 9334 Jan 20
85
85
8612 8612
Chia Rys part Ott "1 n
45
80 Apr
83 Dec 20 10438 Jan 18
11% 23
20:4 May
2314 4,656 Jhlo Rye part et/ "2"
2
2
1034 Nov26 38 Jan 9
*0
13 Chic Rys part Ott "3"
912 *9
012
8 May
6 rue 13 11 Jan 12
25 Chic Rye part Ott "4"....
4
412 Melt
*312 412 4
3 Oct 1
57 Jan 13
8
Kansas City My & Lt_100 14% Aug 8 25 Sep 27
Last Sale 18 Nov'12
15 Sep
Do prof
Last Sale 41 Nov'12
100 40 Oct 10 5013 Jan 19
39 Sep
mil
1013 *10
90 Streets W Stable C L.100
*10
6 Dich2A
7 Deo
1172 Apr 10
Do pref
Last Sale 50 Dec'12
38 Nov
100 33 Jan 3e 52 J'ne 20
Miscel'aneous
3118 3114 29
308 2,500 American Can
100 1112 Jan 2 47 Oct 11
9 Jan
Do prof
450
100 91 Feb 1 120 Sep 19
116 110 11514 11514
7678 Jan
American Radiator_100 325 Feb 1 405 J'iy 2 265 Jan
Last Sale 405 July'12
Do prof
Last Sale 13414N0ie12
100 131 Jan 15 135 Apr 30 12013 Mcb
90 Amer ShIpbuilding_100 46 Aug 7 61 Oct 1
*53
55
*53
55
48 Nov
Last Sale 104 Dee'12
Do prof
100 100 Feb 6 10638 Oct 28 10612 Sep
Last Sale 14014Dec'12
Amer Telop 63 Teleg
188 Deo 11 :98., Mel) 17 13168 Aug
Booth Fisheries cons___
13512 67
6612 66:4
s9 Mch 14 68:4 Deo 3
35 Apr
Last Sale 47 Apr'12
Voting trust Ott
38 J'ne
4812 Feb 2, 50 Jan 9
.
Do 136 Prot
___
88 ____
88
60 Sep
,. 77 Mel)14 95 J'ne 5
Last Sale 55 Nov'12
Cal & Chic Canal & D_I00 49 Feb t
4912 Apr
6558 May13
53
53
531 83%
255 Chia Pneumatic Tool..100 44 Mob 15 5512 Oct 15
3913 Sep
Chicago Telephot4e
Last Sale 142 May'12
100 18712Jan 4 146 Mch 0 115 Jan
itioago Title 44 Trust.100 154 Jan 4 222 J'ne 20 1511 Jan
Last Sale 200 Dee'12
*143 145
143 145
817 Conutionw'th-Rcllson_100 13514 Jan 4 160 Itch 7 113 Jan
Last Sale 13% Deo'12
10 Feb 13 2113 Oes 21
Corn Prod Ref Co corn__
93 Oct
4
Last Sale 87
pref.__
117 Oct 17 87 Ort 17
do
Do
Oct'12
78 Jan
10714 10714 10714 107:8
100 103 J'iy 5 11134 Feb 5
130 Diamond Match
9212 Feb
97 97
70 Hart Shaffner & Marx pt. 97 Dec 26 10212 kith 8 100 Sep
100 56 J1121 2 7312 sop 23
70
70 ---- -_
367 Illinois Brick
497 Sep
2
Internal Harvester Co___ 10512 Dec 11 126is Sep lo
0914 Sep
Enbakerbooker Ice pref._ 67 May 1 73% Aug 6 _
ug'12
Last Salt 127 Dee'12
National Blaoult
100 114 Dee 10 16112 Apr 30 11714
--Jan
Last Sale 124 Nov'12
100 12214 Oct 25 13034 May28 123 Jun
Do prof
120 120
120 120
100 103 go 6 135 Sep 24 100 Aug
250 National Carbon
*11714 11812 *11714 11813
100 115 Feb 11 120 Jan 2 117 Sep
Do prof
10
x 61 J'ly 2 x Cl Apr 22
6213
150 P.eoLllo Gas & El Co
Last Sale .60 May'12
x .60 May 3 2.65 Apr 23
Do
rights
*0112
_
*9112
Do
preferred
1141 11411 ___
-- 11 People's Gas L&Coke_100 10313 Tan 2 12218 Oct 9 1131 Sep
---- - ----- ---- --- Pub Sera of No III coin. 2 80 Dec 23 x 9412 Apr 24
58
Last Sale9813 Dee'll
Do preferred
x 98 Dec 6 210712 Apr 24
Last Sale 94% Dee'12
Rumely Common
94% Dec 5 9878 Nov22
Last Sale 100 Nov'12
, Do preferred
1 92.3 Apr 27 .110312 Oct 25
21213 21412 21233 21414
249 Sears-Roebuck com100 140 Jan 5 22112 Nov 8 1141eP
Last Sate 12312Dee'12
Do pref
100 12112 Jan 11 125:4 J'ne 8 11
Sep
.
Last Sale 3413 Dec•12
Studebaker Corp coin
307- J'ly 18 49 Aug 9
8
Last Sale97% Aug'12
Do preferred
0412 J'ly la 9712 Aug 7
-, „,
103 10514 10514 10533
348 Swift & Oo
____100 983 Jan 2 10914 Apr 4
973 Sep
4
4
_-- ___- --__
23 The Quaker bata Co_100 215 Jan 15 397 Nov23 165 Moll
____
6 Do prof
100 10513 Jan 2 110 Jan 15 10213 Feb
-iii) 2 .
Union Carbide Co
6i "iOi iiiiii
425
113634 May 8 231 Nov 4
Last Sale4% May'12
Do
rights
c 314. May 8 2 0 May22
.
Last Sett 114 Dee'12
Unit Box lid & P Co_100
se May 2
178 Jan 18
1 Dee
67% 68
68
0818 2,300 United States Steel corn. 5833 Feb 13 8012 Sep 30
5012 Oct
*11
12
*11
12
100
601 Western Stone
9 Sep :10 15 Nov25
14 Dec
Chicago Bond Record
Interest
period
Range io- Year 1912
. 71:„7 716,8 8321A4Deo12
*Rol Rif- 16674 fiii- siOOT2 fiii"
0712 974
*9612 07
*9644 98
7012 7114
70
70
70
*68
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Dec. 27.
STOCKS
CHICAGO STOCK
EXCHANGE
NAME
Outstancting
Stock.
(i)
Surplus
and
Profits.
(1)
Dividend Record.
/n
1910.
In Per- Last l'aid,
1911. tad
Attierlcan State
Oct '12, ig
• $200,000 $188,960 ____
Calumet National
An Ian '11, 6
6
0
y60,870
100,000
Oont'tal 5: Comm Nat., 21,500,000 9,459 060
10
Q-J Jan '13,234
Corn Exchange National 3,000,000 6,133 773 113
16
Q-J Jan '13,4
Drexel State ,
200,000
8
85 085
6
Q-J vet 12, 14
Drovers' Dep National_ 2600,000
600,000 10
Jet '12,24
10
Hug ewood State
200,000
z57.533
654 Q-J Oct '12,2 •
6
10 000,000 11,815,233 12
First National
12 Q-M Oct '12 4g
150,000
First Nat Englewood
209.125 10
12 Q-M Sep30'12 214
Foreman Bros ll'k'g Co_ 1,000,000
575.690 Priv ate Ba &It
Fort Dearborn National 2,000,000
750 800
8
8
Q-J Jet '12,2
Hibernian Banking Assn 1,500,000 1,,,18.768 8+2 (¶)
200,000
33,091 Beg. b us Aug '12. V.05, n.27$
Hyde Park State
400,000
Kaspar State Bank
177,687 10-1-13 10
J-J July '12,3
200,000
4 002 dog' LI9 Apr 311 V.92,p. 1004
Lake View State
200,000
49,150 Org
Lawndalo State
ee. 16 1911
Live Stook Exch'ile Nat 1,250,000
603.477 10
10 Q-M Jan '13,434
Mech. & Traders State_
200,000
b (is.Aug 46' 1 2 V 95,P 593
52,853
Nat Bank of Republic_ -2,000 000 1,133,581
13
Q-J Dec 31'12, 2
National City
12,154
2,000,000
662.389
0
0
Q-J
National Produce
4
106,457
250.000
0-) Deo31'12,11
North Avenue State
200,000
6%
90,199
Q-J Jan 13, 1 a
North Side State Say•gs
,50,000
50 982
Q-J let '12, 1
North West State
200,000
:44,751
4
5
Q-J Jan '13, 1
People's Stk Yds State_
500,000
112,877
7
034 Q-J Jet '12,234
Second Security
200,000
27,193 3eg. b us Des 1'11 V.93,n 1235
,
Security
400,000 2160,022
Q-J Oct '12, 14
434
South Chicago Savings..
200,000
114,000
Q-J Jan 13,4
7%
8
South Side State
200,000
18,545
G
Q .)ct '12, 1.34
-J
State Bank of Chicago.... 1,500,000 2,393,161 12
Q-J Oct '12,3
Stook Yards Savings._
250,000
246 422
8
4en30 '12, 3
Union Bank et Chicago_
500,000
155,823
6
M-N Ney'12, 3 '
Washington Park Nat.._
100,000
11.872
6
Q-J Oat '12, 2
Wendell State
50,000
27,060 None None Q-M Dec21'08,1)4
Central Tr Co of
4,500.000 1,972.735
744
8
Q-J Oct '12 2
Cello City Bk & Tr Co
500.000
358,967 10
J-J July'12,8
1i
Chicago Say Bank & Tr 1,000,000
285.129
0
Q-J Jet '12, 144
Chicago Title & Trust
5,600.000 2,271,355
Jan '13, 2
50,000
:16,510
Citizens Trust & Savings
0
10 (
4:1 let '12,3
600,000
476,869 8+2 8+2 Q-J Jan '132)4
Colonial Trust & Savings
cont & Comm Tr & Say 3,000,000 1,652 338
8
187,641
200.000
Drovers Trust & Say_
626
-.
.
;14
244
irst Trust & Savings
- 5,000,000 2,3137,162 12
16 Q-M Dee 30'1106
250,000
Ft Dearborn Tr&SaVi3k
16.539 meg, b us Apr 3'11 V 92,p 92
200,000
w63.673 Beg. b us Apr 2'1:: V.94, p 10
w Franklin Tr & Say Bk
GreenebatunSonsBk &Tr 1,600,000
L3.3. 31
254
jsa 1 2 2
1:
J Oct ;3 8
200.000
240,301
Guarantee Trust & Say..
J- .1 July '12, 3
12
Harris Trust & Savings_ 1,500,000 2,235.542 11+5
Q300,000
272,483 Beg b us Apr lu'l IV.92,01004
homeBank & Trust
7
Illinois Trust de Savings 5,000,000 9,668 080 16+4 16+4 Q.!, so po 12,3
tiov 2042 1 3
d
. 4
200,000
277.463
Kellwood Trust & Say_
20%.114
200,000
Lake View Trust & Say..
Q-J *m30'12,113
6
534
265,511 Beg b us. lie y'10 See note (e)
Say B 1,000,000
u La Salle By Tr &
250,000
41,522 Beg, us.J'ly 1 '12 v.94,p.4“
Mercantila 'fr. & Say
Merchants' Loan &Tr Co 3,000,000 6,714.212 12
an 1 4
Q4 jet '124
Q-J o
15
200,000
70.184
Mohr)Ave Trust Oo_
600,000
578,343 OZnnb us Apr 14): 1 4p01004
Mid-City Tr & Say Bank
J te .92451 2.2
iv 3
s
_1,500,000 2,804.056
Northern Trust Co
8
0,000
North-Western Tr& SaV
8
J-J Jrre 29'12,
129,670
0
1 1 it n13.43
,000
Old Colony Tr & Say Bk
52.026 Beg. b us roe (4 1 j 92,p.17
a
5
People's Tr & Sae Bank
500,000
208,354
Q-J Jen '12
4 a). 13:
300,000 :275.541
Pullman Trust & Say_
Sheridan Tr & Say Bank
243.038
200,000
Standard Tr & Savings, 1.000,000
369,818 Carnsm *need boa Set* 6 19
Stookrnen's Trust & Say
245,209
554
6
200.000
J-J July'13,
8+2 8+2 Q-M eerit 2012,1
Union Trust Oo
1,200.000 1,501,633 1.
121.126
0
West Side Tr &Say Bk..
400,000
918 Cl jej 42 41 34
oTh ort 8
Woodlawn 'Fr & Say Bk
86,840
734 8+
,
200.000
8
t
• Bid and mired prices: no sales were made on this clay. I Sept. 4 (olosof business) for national banks and Sept. 5 (opening of business) for State
institution,.
No price Friday; tatted price this week. Wept. 1 1911.
Dividends not nabliabed. Zttocric all acquired by tbe Cont. & Comm. Nal.
13ank. a Due Deo. 81,
Due Juno.
c Due FA.
dfue Jan. 1,
k Also ZO% in stoett.
g Dividends are paid Q.
-J. vrith eaten
Aug. 31 1912. x Sales reported beginning April 18. u ortnerly La Salle Street Nat. flank. See V.95. p. 1091. w Douglas State Batik absorbed by
payments
the Franklin Yr. & Say. Bic. Nr. 96. P. 1511. Figures ore given are as of Dec, 2 1912 and are for consolidated institution.
v Capital to be increased
to $750,000. V. 95, p. 1511. s Increase in capital to $200.000 to be voted on Dec. 30. V. 95, P. 1511. u Sept. 4 1912. z SRA.6 1912.
1738
BOSTON STOCK EXCHANGE-Stock Record.
-NOT pga CEN7'UM PRWRS•
SH4RIC PRICES
.Saturday
Dec 21
Monday
Dec 23
Tuesday
Dec 24
10618 *10512 106 *10512 1053
4
10214 *102 1024 *10214 10253
213 2134 *213
112 11312 *112 • 114
115
4202 ____
___
97 *20295
95
--- *95
9
8
295 •___ 295 •____ 295
10
10
10
10
•_
75 *____ 7575
;
8i3 7
*678 7 - .
;F578 7
50 *40
50
50 •40
*40
•167 168 *167 108 *167 16$
•___ 109 *____ 109 •____ 109
*106
*102
O213
112
0202
96
•___
*Ha'12012 124 *12012 124
83
85
*823 8384 .
4
"ii- 17
-ii" 17
75
76
75
13014 13058 129
*iii49
•
*___. *160 16014 *1594
.9214 9234 *92
*150
81- 80
;WC 8____ 99 •_......
----
17
17
76
7534 76
1283 120
4
130
'ifi49
49 •40
15913 *1593 1593
3
4
93
9212 *92
80
99
;85-
8012
98
5618 5638
9934 100
7
*2 8 4
2212 2212
11734 119
117 117
14038 14034
83
75
*100
55
254
55
55
29812 9812 98 4 98 4
,
,
378 4
4
4
22
22
22
22
11734 11812 118 11812
117 117
117 117
14014 14014 14018 14048
2212
*2012 22 *21
811 8112
83i4 28113 82
75
75 *____ 76
•100 -- *9734 -_--
13
13 *11
*11
.1214 13
*12
123
4 1212 1314 1313 1314
280 280
27013 280
280 280
18334 18412
185 18512 18312 181
02
92
9134 913
4 9112 9112
*94
9434 943 *94
4
05
95
21412 21412 *214 21713 *214 213
4
*3
*3
*3
4
4
.93 05
93 93
04
9312 93
493
00 90
93
152 153
15314 15411 *152 154
152- gi"
1512 1512
105 105
2713 2712
*2713 29
212
*2
184 135
49 494
2712 2734
6814 591
10034 110
162 1512 16334 114' 153
1574 15
*15
4
105 105 105 10514
*27
28 28
28
29 29 .27
29
•178 212
18413 145
183- 184
4813 485
4 4813 4812
273 273
4
4
4 2734 273
6714 6812 6714 673
4
1093 1093 1093 1093
4
4
4
4
Wednesday
Dec. 25
Thursday
Dec. 26
Friday
Dec. 27
Last Sale 10538Doc'12
Last Sale 102141300'12
'213__ _ 213 213
11513 11512
115 115
Last Sale 203 Dec'12
*95_ _ *95 .
LasiSale 290 Dec'12
10 *_-__ 10
Last Sale 72 Nov'12
Dec'12
Last Sale 7
Last Sale 50 Oet'12
Last Sale 167 Dec'12
Last Sale 108 Dec'12
Last Sale 200 Au4'12
120 120 *120
Last Sale 125 Nov'12
Last Sale 3314 Dec'12
Last Sale 125 Nov'12
17
17
18
18
70
70
7513 763
4
129 12914 128 129
Last Sale 130 Nov'12
Last Sale 200 Dec'12
*174 ____ 174 174
Last Sale 49 Dec'12
15913 15913 *15912 1593
4
Last Bale 9378 Dec'12
Last Sale 15512Dee'12
803 8034 80
4
80
98 98 *--.... 100
5414 55 *5414 55
9814 99
99
98
4
4
4
4
22
22
22
22
11713 1184 117 118
*116 117
117 117
1404 1407 1403 141
4
8
Last Sale 22 Nov'12
81
8113 80 803
4
75
*---- 75
Last Sale 100 Deo'12
Last &tie 538 Dec'12
11
11
13
*11
1313 143
8 14
1412
280 280 281 284
18414 13414 184 134
01
91
*9013 9113
95
95
98 95
*214 21652 *214 225
Last Sale 34 Dec'12
94
92
93 *____ 93
*99
1544 15414 15314 150
Last Safe 90 Mch'12
164 1643 165 16512
4
4
158 *15
*15
1554
105 10514 105 10518
2712 2712
*2713 28
29
29 *28
*28
2
2
183 18312 183 183l
49
4812 4812 49
2734 2778 277 277
8
3
673 68
4
6712 684
10973 10978 10958 10958
Sales
it the
Week
Shares.
_AOC KS
B(WroN STOCK
EXCHANGE
Range since January 1
-Mate tots
On batis ol 100
Lowest.
H tallest
Lowest
Highest.
10033 Sep
101 Sep
119 Apr
12412 Sep
207 Feb
5612 Oct
292 Meh
12 Sep
70 Oct
6 Feb
.3812 Jan
150 Apr
101 Alch
265 Jan
525 Apr
:11712 Jan
86 Feb
135 Sep
16 Apr
11814 J'ne
105 J'ne
226 Feb
13013 Aug
213 Sep
12238 Feb
300 hich
16 Mch
7014 J'ne
13 J'ly
68 J'ly
171 Dec
11512 J'ly
272 J'ne
130 Jan
3164 Oct
9312 J'ne
215 Jan
24 J'no
12714 Sep
13J Jan
211) Jan
183 Meh
32 Jan
15313 Sep
1)t) Mch
156 Atch
85 Set)
103 Aug
1518 Feb
8
142 Mch
214 Nov
100 Nov
45 Dec
10218 J'ly
9518 May
16418 Dec
153 Mch
105 Jan
40 Sep
6334 Meh 23
99 Jan
105 Itich 22
312 Aug
514 J'ne 15
2113 Nov 11
1218 Aug
1335 May13 112 Sep
8
12334 Aug 30 1113 Jan
4
149 Mob 2. )313 Aug
8
30 bleb 22
264 Dec
8512 Oct
9414 McI223
81 May .
7112 Deo
95 Dec
105 Meh'il,
738 Dec
9 Feb 11
1413 Nov
20 Jan 13
714 Jan
1714 May27
300 Slch::. 173 Sep
1877 J'ly 25 142 Sep
3
8734 Jan
95 Oct 11
0813 Feb 10
93 Deo
223 Aug.:; 211 Jan
3 Oct
412 J'ne 26
103 Jan 18 103 Oct
10/ Mob 25 101 Nov
164 Meh 14 13/ Jan
023 J'ly
4
90 Mcb 20
184 Aug2i 153 Sep
1738 Apr 11 212 Jan
10018 Sep 2.,
5734 Sep
29 Sep
32 Jan 10
27 Mch
31 Apr 17
4
4
3 May
33 Apr 8
20812 J'ne 19 4178 Dec
5713 Aug 2,
0
4014 Aug
2613 Sep
2934 Sep 13
50 Oct
80 8 Sep Ju
5
11638 Oct I 10313 Sep
6334 Dec
10514 Mch
612 Jan
1014 Jan
122 Feb
12013 May
15314 J'ne
3614 ?deb
9612 J'ne
81 Nov
10012 Dec
11 May
20 Jan
15 May
297 Deo
16734 May
063 Aug
4
9812 Oct
235 Aug
478 Jan
119 Mob
11612 Men
16612 Dec
7334 Nov
163 Jan
15 May
104 J'ne
36 Jan
31 .11y
1148 Mch
19712 J'ly
5878 Feb
2914 Jan
8218 Feb
12012 Feb
Railroads
Atch Top & Santa Fe_100 10378 Feb 10 11154 Oct 2
Do prof
100 10114 Nov 9 10114 Feb 7
50 Boston & Albany,,
l00 21113 Sep 17 22212 Apr
o
100 112 Deo 20 1343 Mch 25
142 42oston eeElevated
4
100 202 Nov25 218 Jan
Lowell
2 Boston & Maine
190 94 Dec 11 10013 Jan
Boston & Providenee_100 290 Dec 5 300 Apr 27
10 Boston Suburban El Cos_ 10 Deo 11 1. May-3
Do pref.
. 7412 Oct 1,, 30 J'ne
Boston & Wolo-usi_
- 2fee
7 Dec 9 1213 Jan 6
Do prof
50 Aug 30 57 Jan
Chic Juno Ely & USY.100 165 May 6 170 Jars 15
Do prof
10712 Oct 3 112 J'ne 14
Connecticut River...100 260 J'ly 24 272 Jan 18
2 Fitchburg. prof
100 119 Dec 17 128 Jan 25
Oa Hy & Rico stmpd_100 224 J'ne 12 :179 Apr 1
Do pret
100 8314 Nov 26 0112 Jan 6
Salim Central.,
100 125 Dec 6 14738 Illayj I
288 Mass Electric Cbs
100 16 Dec 10 2318 Jan 8
565 Do pref Stamped _100 7238 Dec 13 83 Feb 28
738 N Y N
3
Hartford_100 126 Dec 11 142 3 Apr 2
Northern N H
106 12812 Oct 3 143 Jan 24
Norwich 6: Wor pref _100 200 Oct 24 21213 Jan 25
2 )1.1 Colony
100 sill J'ne 14 187 Jan 31
i.tutland pref
100 41 Jan 2 70 Jan 25
100 152 Dec 12 1761,1 Sep s,
20 Union Pacific
Do prec
100 8918 Sep 23 9373 Dec 2
Vermont & Mass____100 152 Sep 3i) 164 Jan 16
223
i.s1 St
60 80 Oct 10 88'3 Feb :2;
DO prof
50
50 96 Nov 4 10312 Mei, 1
Miscellaneous
392 Amer Agrlcul Chera....100 54 Dee 9
D- prof
224
100 98 Dec 20
3 Aug 2
646 Amer Pneu Servloo_ 50
250 Do pref
50 14 /doh 26
307 Amer Sugar ite/115 ,100 11334 Deo 12
100 11414 Deo 12
112 Do pret
1,236 Amor TelJp• & Teleg_100 13712 Ja.,
American Wooleu
190 22 Nov18
Do prof
356
100 7914 Nov 18
55 Amoskeag Manufacturing 75 Nov27
Do pref
29414 J'ne 41
At! Gulf & W / SS L..1 00
6 Aug 20
100 1012 Aug 21
2 Do prof
4
6,593 dust Boston Land__ 10 103 Jan 2
201 Edison Eleo Illum..., 100 27212 Sep 28
100 155 Jan 2
255 General Electric)
135 Massachusetts Gas Co2100 28818 J'ly 15
100 93 Dec 10
. 87 Do p.et
100 21412 Dec 21
12 ‘Iergenthaler Li/Ie
212 Meh i4
.dexloan Telephone__ 10
6 N B Cotton Yarn____100 00 Dec 16
100 90 Deo 24
29 Do pra
344 N E Telephone
100 11814 Oct 25
,
ortland (Me) Elec-100 7213 Jan 17
• 162 Pullman Co
100 168 Feb 1
4
5 iteece Button-Hole,,,, 10 133 Jan 2
163 Swift & Co
100 9812 Jan 2
156 Torrington
25 27 May 8
Do prof
42
25 28 Jan 6
50 (Salon Copper 1, 53 M 21 .85 Jan 6
714 United Fruit
100 h174 Sep 16
(In Shoe Mach Corp_ 25 4614 Jan 115
599
138 Do pref
25 2712 Dec 11
100 6838 Feb 13
7,100 U S Steel Coro
196 Do prof
100 10718 Feb 13
Mining
518 54
5
5 Dec 0 1114 Apr 26
80 Adventure Con
23
5
*5
513
*5
514 514
514
814 May 2
390 Ilgomall Minim'
214 Dec 27
23
*258 3
*213 3
212 212 214 212
*213 3
*38 40
25 35 Dec 10 5018 J'ne 21
39
3, 85 kllouez
460
8
41
33
38
33
28
28
38
'14
amalgamated Copper 100 60 Feb 1 925 Oct 4
3
7512 70
7614 773
4 7518 7818
7614 7014
12i
N3
m
1,750 , Zlnu Lead (Ss 3m_ 25 2413 Feb 15 35 Oct 3
2834 29
2914 2912 2834 29 . 4
2378 29
C.)
33
8 33
1,360 lrizona Corn't ctts deo_
334 414
4
358 373 *33; 4
334 4
67 Apr
8
2 Jan 2
lonanza Dev Co,,_,,,, 10 .25 Nov30 ,155 Apr 11
•.30 .40 * .30 .40 * .30 .40
Last Salt: .30 Dec'12
243 2os&CorbCop &S111.1g 5
914 J'ne
413 Deo 6
54 54
511 512
512 512
514 514
514
4'334 512
534 Apr 2
150 3utte-Balalclava Cop_ 10 21348 J'ly 25
38 3 3
7
7
3 8 37
7
8 *373 4
4214 4512 4112 43
4212 4313
3
42% 44
4
'858 4338 13,471 Butte& Supeop(Ltd) 10 1912 Feb 7 6134 J'ne 12
43
0912 8012 70
6913 71
69
7014 69
7034 2,243 Jalumet & Arizem..._ 10 5712 Feb 1 8313 Aug
70
27 Jalumet de Hecia___ 25 405 Feb 1 615 Sep 2,
535 540 *525 635 530 530
530 530 530 533
235 Centennial
700
25 1812 Dec 11 2713 Apr 1,
18
*1812 173
13 *17
4 18
18
*1634 173
4
18
5 2514 Feb 28 5014 Nov 8
4334 453
4413 4412 44 44
8 437 4414 44 4414
8
ions Mereur Gold__ . 1 .01 Nov14 .09 Jan 19
Last Sale .01 Nov'12
.05
.05
889 cla per l:ange Con do 100 4812Deo 10 6213 Apr 11
110 Jopii
st
-81- 1617- so
5013 5012 5012 52
5034 6012 5013
713 Meh 27
Daly-West
312 Oct 14
20
*33
*334 4
4 4
312 33
4 *312 4
*313 4
1412 143
4 1414 1412 *1414 1112
890 &est Butte Cop Min__ 10 1214 Jan 15 1634 Sep 26
1414 1412 144 1434
188 Franklin
*814 9
8
88 Sep 27 1614 Apr 1
7
25
8
*8
*8
84 *854 9
812
3 Dec 4 13 'I59.pr 6
3% 4
,
38 4
4
7
4
325 Giroux Consolidated_ 5
4
4
3% 3%
65 69
6612 677
6934 69
8 67 67
67
7012 5,156 Granby Consolidated _100 33 Feb 5 7734 Nov11
9
712 Feb 29 1112 Oct 4
9
20
834 8 3
873 9
7
9
9*/ 1,521 qreene Cananea
87
3 87
8
760 loncock Consolidated 23 23 Oct JO 37 J'ne 14
2413 28
23
23 •23
24
2352 2318 2313 2154
2 May b
1
*34 1
25 .70 Dec 4
1140 nd veta C n uiz
*34 1
4 5 Iielian lam iop per
3
4
3
4
"4 1
1513 151
25 1118 Sep 26 23 Apr 24
1614 1514 15
1512 16
154 1512
154
.18
1812 *1814 1813 1814 1814
11
20 inspiration Corm' C,, 20 183 Dec 16 2153 Jan 24
*1734 1814 *18
1812
*54
island Creek Coal__ 1 4012 Jan 17 6534 J'ne 10
55
053
56 *53
56
Last Sale 55 Dec'12
*85
37 *854 8613
*8413
Do pre!
1 85 Jan 13 9114 Aug 1
10
8613
8612 8613 *86
3234 ---- 314 323
9.340 Isle Royale Copper__ 25 203 Jan 15 3714 Nov21
237
3
4 3112 3134
4
3134 32
32 4 88
,
359 Kerr Lake
*238 234
3i8 Feb 13
812 23
258 24 *2 s 23
5
3
2 Apr 9
*23
4 27
8
4
3 May 8
65 Lieweenaw Copper
*134 17
8 *114 2
*134 2
25 .80 Jan 2
4 178
s *13
13
4 17
25
241
4
2533 25
2514 24
24
25 223 Dec 11 49 Apr 10
2413 2134 1,970 Lake Copper Co
24
478 478
8 Apr 17
5
412 Feb 15
165 La Salle Copper
23
5
5
5
5
5
5
8
onVsoli
conal
:0
*11
1013 1012
11
23
11
200 Mason Valley Min._ _5 1014 Dec18 1412 J'ne 27
12
1013 1012
*10
es
914 Jan 4
5
5
*5
5 Dec 10
23
512 *5
*5
512
512
554 514
31aylIo
16
17
1812 Apr 23
16
16
2 4 Ja n
1512 1512 1534 153
3
4 1,230 51iam t sva*
1534 16
25 233 Jan
5
*213
Copper
2612 *2413 28 , *2534 2614
231) 3038 Sop 25
Last Sale 2512 Dec'12
Michigan
513 Apr 20
*2
231 *134 24 *2
25
158 Dec 13
Last Sale 2
Dec'12
238
594 5912 60 61
566 51ohawk
59 60
59 59
59
69
23 5013 Jan 30 73 J'ne 27
01914 194 1914 1914
260 Nevada Consolidated- 5 1814 Jan 29 2438 Sep 30
8 193 1912 1913 19i
1912 193
3
*214 212 *214 234 *24 23
814 Apr 10
54.tl 11
2 Dec 3
3 i
,,,,
25 New Arcadian Copper 23
234 22.1
4
•82f 858
94 Dec 26
8
8
04 --53 -91- 1,225 Nipissing Illne5
9
812
853 0
4
4
3214
3212 3318 3214 3212 •32
1
14 Feb 1
8
1s) 2r e0 ) 393 Oct 8
8
324 33
3314 344 7,130 North Butte
aketaing
*212 3
m
213 234
*212 3
0
200 North Lake
6
213 212
3
834 Apr 22
3
212 212 *212 23
25
*24 3
113 Deo 9 e634 Jan 11
*213 234
4 *213 3
785 Uld Colony
812 014
25
83
2 8 Jan 2 1314 May 1
4 834 *314 83
5
*814 834
4
814 814
830 Old Dominion Co____ 25 44 Jan 31 64 Oct 2
5334 55
5312 6312 5334 54
54
53
*5213 54
104 10412 102 103
..
10513 10612 z104 104
630 Osceola
105 107 ,
25 100 Deo 6 13012 J'ne22
2818 2713 2018 2634 26
Coal _...- 10 15 hich 27 29 Nov 29
2612 2634 2613 2612 2,583 Pond Creek 2612
77
79
J'11022
7614 77
77
77
73
7812 79
78
2078 2112 2034 207 *203.4 21
21
21
8
223 auayincjonsol Copper__ 25 7218 Jau 25 2418 Sep 23
308
2113 2118
10 11512 pc° 16
*234 3
212 212
478 M ay2J
1,225 Santa Fe Gold & Cop. 10
*212 23212 212
1 Jan 31
1313 1312 133 1338 13
8
016 Shannon
177 Aug 8
8
13
1313 1318 1318 - E3
8
2814 2812 2813 2812 *2812 29
046 Shattuck-Arizona
Feb
231.1 2352 2814 2812
9 Fen 21
13 NOV13
10 17 ja 31
0
.25 .25 '.2.5 .30
.25 .25
.25 .30 2,050 South Utah 41 63 s.... 5
.25 .
14 Dec 10
14 Apr 3
3713 38
3714 3713 3713 3713
1,480 Superior
Feb
4823 J'ly 27
38
38
323 40
4
114 114
114 153
118 118
478 Jan 15
735 2Uperlor& Boston 111n 10 2 De 17
13 4 114
,
1 Dec 1
4
25
118 114
3412 38
3334 2334
34
34
*3313 3414 35
210 tamarack
20 Jan 31 61 Apr 18
35
44 414 *414 A
5
5
*43
s 5
*414 5
A Dec 12
912 Apr 9
318 33
*213 3
8
814 314
*278 318
3if: 3%1
o 31
32112 n 12 41118 Mch 26
4214 433
4;00 (1 1:114tuiAc R:
1 517 1Stri3 3 mY t Corp r
1
8 4214 4212 4212 4258
434 4318 4212 43
e
25058 Sep 30
Jan
Min 2250551
49
50
4038 493
8 4913 4913
4913 497a 4034 4034 1,057
D J prof
50 47 Jan 10 52 4 Sep 28
3
*2
218
2
2
2
213
*2
2
218
2
140 Utah-Apex Alining__ 5
1 Nov20 31148 Feb 0
11
1112 11
1013 It
11
10 3 104 •1033 11
,
577 Utah Consolidated__ 5
011 J'ly b 2038 Apr 2
53
5334 59
58
5814 5813 58
*58
5812 •58
185 Utah Copper Co
5212
8
10 5213 Jan 29 873 sop 24
*134 2
*13
4 2
Last Sale 13 Dec'12
*134 2
4
Victoria
23
13 Dec 12
4
578 Jan 20
4
4
•34 413 *33
*334 412 *33
4 412
160 Winona
4 412
25
34 Dec 11
4
73 Mch 1
69
6913 6912 70
*68
6912 6912 69 69
6912
352 Wolverine
25 65 Dec 12 117 Apr 17
( 0114 112 *113 1l2
151 314
60 Wvan,!ett
114 1,
4 *114 113
25
1 Dec 10
331 Mcl2 4
1313 and asked prices, a t\iew stook. e Asst't paid.
!
Ex-stock idly.
Ex-rights. a Ex-div. and rigats. z UnstamPed•
tisnge ;or Previous
Year 1911
Z31 2
3f
Sep
212 Oct
21 Aug
4434 Sep
4
193 Oct
138 Deo
.30 (Set
4
33 Aug
3 Nov
718 J'ne
11 J'ne
4414 Deo
7138 J'ne
3033 J'ne
2144 Dec
75 May
1512 May
612 Jan
45 Sep
360 Sep
8 41 lig
163,s Sep
03 Nov
4034 Sep
3 Feb
8
87 Aug
512 Aug
338 Set)
Aug
5 Oct
810
17 Sep
34 Sep
514 Oct
6334 Dec
545 Jan
19 Deo
2712 Deo
.15 J'ne
6934 Feb
7 Dec
1131:
Feb
434 J'ne
838 Dec
:,112 Dec
'2 Feb
13 J'ne
2214 May 44 Dec
8218 Sep
91 J'ne
1113 Aug
23 Deo
25 Oct
8
718 Jan
12 Nov
334 J'ne
22 Aug
40 J'ne
3 Aug
6 Jan
613 Apr
1178 Deo
44 Aug c10 J'ne
.20 Feb
3118 Dec
2
167 Sep
2438 Dec
114 Nov
312 Jan
36 Apr
57 Dec
15 Sep
2114 J'ne
2 Aug
414 Aur
2612 Deo
1138 Feb
20 Sep
3014 J'ne
93 J'ne
4
4
33 Aug
35 Deo
8
812 J'ne
.50 Jan
318 J'ly
3414
49 J'ne
81 LI 124 Jan •
55 Sep
70 Dec
12 Sop
19 Deo
3 Apr
4
134 J'ne
1214 Fob
7 Oct
1412 Sep
24 Jan
12 Deo
1143 May
20 Oct
424 Jan
e218 001
84 360
62 Jan
20 Sep
512 Rea
278 Oct
472 MaY
13 Sop
4
4012 J'ne
3038 Sep
491* rue
45,4 Aug
17s Nov
3r2J.n0
934 Jan
20 J'ne
38 Sep
15732 Dec
1 Aug
413 Dec
334 Nov
9,2 Feb
74 Nov 122 Feb
.30 Nov
2
,
Fit
DEC. 28 1912.1
Boston Bond Record
•
1-3 ,
,,,
BONDS
BOSTON STOCK EXCHANGE a
'
Week nding Dec 27.
'
.5z
.**
1739
,3
Week';
i:.
: Ranye
BONDS
Ii,..1'.,
Prfcc
Wec;';
rano
Range or
Z"
BOSTON STOCK EXCHANGE NE
.
;.,.,
Mari)
Fri !ay
Rang; 3r
Since
Lax Sale
--.-Jan. 1.
Week Ending Deo 27.
Dec 27
z.:, Las; Sale
, an. 1.
,
----- ---- -- ---AsA LW
,lid
Iligi. No Luc 11.1,.
t.i •
Ail,. ',:r'
11ta N9
Am Agricul Chem 13.- 52_1928 A-0 ___ __ .: 10114 Dec '12 ._
.
10110,1023
Oenerai Motors 1st 5-yr 63_101 - ..-r5 ,,-2 440, oro Feb' _ _ I.G1' Jig71
- 5 a „ oe, ..,..-2 —4
1%014 091
Am Telep & Tel coil tr 4s_1029 J -J
89
8
887- Sale 8834
26 8834 01.14 -,c Nor C B a Q 2011 tr 4s1921 J -J
95 9512 9538112c
'
947 9812
Convertible 4s
1936 M-S 10512 111 11233Nov'12 _ .. 10834 1151,
flewistered 43
1921 Q-J
041 ._ __ 9434 Dec '1
4
0434 9753
Am Writ Paper 1st s f 53 g _1919 J -J _—_ ____ 89.8 J'ne 12 __
i.) , .,,,
liIin 3. s Stec, deben 5s
1913 A-0
993
4
9
:
,
98,,5 1001
1915 NI
-N ____
__ 131 ..I'ne'12 __
Am Zinc L & 8 deb Os
103 131
'
la Falls a Sioux C 1st 7s
1917 A-() -------- 11/ Apr '0 — _ ____ --Ariz Corn Cop 1st 68 etts ot dep_ __ ,-- - - — 82 J'1Y' — Kan O Y1,a a Spr 1st 5s___ _1925 A-0
12
54 sS
_ _ _ _ . 97 kid,
-. 1997 97
Atch Top & 8 Fe gen g 43_1995 A0
- 963 Dec '12 ---_ 9638 9934 Kan C Fr Scott & Mem 6s 1428 11-N il 1 . _
8
.
113 Nov '1
11) 11712
Adjustment g 4s_ ___Juty 1995 Nov --------875 Nov •12 _ . 87()3 921, Kan C NE a 11 gen 4s
_____
8
1934 51-S ____ 9212 921-Sep 1 .
lo
921
Stamped
. 801.J'ly '12
__
July 1905 11.-N
8912 91,
1,
Assented 3ncome 5s
1334 NI- S ___ 85 8338 Nov')
s9
50-year cony 4s
1951 J -D _ _ _ --. 10134 Set) '12 ____ [-Jr.)10!-j!
Kan 0 & NI ity & Br 1st 53_1929 A-1)
----- 101 Dec
'
100 1021
10-year cony 5s
11(1s NEch'll
,
1017 J -D
...
_ Alarq Hough a Ont 1st 63_ _192L A -0 .
---- - --- 115 cne•
AM Gulf & WI SS Lines 55_1950 J-3 -------- 623 Dec '12 _ _. 62 1814 Nlass Gas 4 tis
4
___ ___
1929 J -J
a6 - _ . __ 9618 Dee'
_ 9434 991
___ 9515 Cot)'i __ 95 0518 Mich Telephone 1st Is
Boston Elev 30-yr g 4s....._1935 M-N
1913 3 -J _
... 100% -km 'i
_
10018 1001
Boston & Lowell 4s
1910 J -J _ _____ __ 10014 Itch'))" ____ ____ __ New Eng Cotton Yr
1929 F - A ____ -9512 94 Dec'
_ 94 99
Boston & Maine 45si
1044 J -J ____ ____ 104120et ',) ____ ____ ____ New Eng 'fel :ph 55
191Z, A-0 ____ ___. 1,1-:, Men'
__.__
___ ___
Improvement 4s__ ____ _1931 F-A
5s
1916 A-0 ____ ____ 10012Sen
Plain 4s
1942 P-A --------95 Feb '12 -__... 95 95
New England cons g 5s
1945 J -.1 ____ ____ 997;;Jan 1 - .
- -1 - 4 - -031- 9 3
9
Bur It Mo Riv cons 138
1918 J -J -------- 103 J'ne'l:
Boston Term 1st 4s
103 10318
(. . ---- ___
1939 A-0
____ _____
Cedar Rap & Mo 11, 1st 7s1916 111-N
I1158 Sep '11
_
New River (The) cony 5s_ _1934 J--------7 • Dec
Cent Vermt 1st g 4s__ _Islay 1920 Q-13 ____ 8912 89 Dec '12 __.. --- - 89 9214 N Y N 11 It H con deb 3 y4s_195u J -.1
--------- 9214 Men '1.
..
1.2 • t,2,3
,
0 B & Q Iowa Div 1st 53_1919 A-0 ___—__ 1103 Oct '07
_
Cony deb Os
1948 J -J ._ _ _ __ _ 1232 Dec '12 _ _ 12358 1321
-------4
___ ____ 03 Aug') ____ so
1010 A-0
Iowa Div 1st 4s
OW, Old Colony gold 4s
1924 F-A ____ ____ 101 Apr ',/ _
091
1913 M-N
Debenture 55
9978
1 99%10112 Oregon Hy & Nav con g 4s_1946 3-0
987, F.ep
--.
__ ____ 0978Feb '11
1922 ILA
Denver Eaten 4s
Dreg Sh Line 1st g 63
9938 100
1922 F- A
_
1W,();1* '1,• . _
,
--112 1 134it
1927 11-N
Nebraska Eaten as
0812 Mehl*.
9812 982 Pare Marquette deb g 6s
;
1912 J-J ____ .=__ 95 Jan 1..,'
9512 95
1921 MS -------- 9812
.._... ____
B &SWer as
9812
1 9812 9812 Repub Valley 1st s t 63
1011; J -J _
193 Jan •1
......_ __
1949 J -J
Illinois Div 3 yis
8512 Nov'12 . _. 8512 87/4 Savannah ince 1st cons 5s _ _1952 J -J ;
— ----_ 7011 Dec .
_ _
'
9912 1011
9912
Chic Jet Fly It Stk Yds 5s_1915 J J
9912
3 9912 10134 Seattle Eice 1st g 5s
1030 F-A _-_-_- --_-__ 1031. l'iv '
_ 10310 10 - - -- 1
5
87 8734 No.
Coll trust refunding g 4s_1940 A-0
-'12 ._
Shannon-Ariz 1st g 6s
87 91
1919 M-N 94 - -9'7 95 - Dec'
8J1i 109
Oh Milw & St P Dub D 6s_1920 J-J ---- ----114 Jan '11 _ _ ____ __ Terre Haute Bice g 53
1929 J -J ____ ___. 97 Apr ,,
Oh NI & St P Wls V div 6s 1920 J J -------- 113
24Feb '11
Torrington 1st g 53
1918 MS ____ ____ lui Sep '
99-34 19 1.
On & No well 1st get 5s
1931 M-N ---------91 May'l•- --- 91 iii
-union Pac RR It 1 gr g 4s-1947 J -J __ ____ 100)591y •
my- 1002
1021 J -D -------- 9614 Nov •12
Chic & W Mich gen 58
9614 101
20-year cony 45
1927 J -J
10178 May' '
191781,11
1920 J -D
Concord & Mont cons 4s
97125ep
'11__ United Fruit gems I 4 Js__ _1923 J -J
9514 _
95
95
3 95 1 71
Ouclahy Pack (The) 1st g 53 1924 M-N -------- 10014 Aug'1:: ____ 10014 10014
Debenture 4 3is
1925 J -3 943 (1478 9478 Dec 1
4
9473
Current River 1st 55
1026 A-0 95 100 100 Aug'''. --- 9914 103
U S Steel Co 10-00-yr Is Apr 19'33 11-N ,, ___ _ _ . 1.0012Dec '1 . _ 10012 16
_
194
Det Cr Rap & W 1st 4s
1946 A-0 ____ 100 8014 Sep '12 __ Si) 8614 West End Street Ely 43
1015 F-A
99 Alay'll'
, . 99 ¶91
Dominion Coal 1st s t 5s
1040 .11-N ____ __ 09 Oct '1:: ____ 183 9914
Gold 4 ;is
1914 M- S -------- 9334 Oct '12 . _ __ 9938 1001
4
_ __ _ __ _ .
Fitchburg 4s
1915 ,11,-S
1031s Apr '05
debenture as
Gold
11)15 3.-N -___ ____ 287 Apr :1 ....
8
___
_
_ 95 Oct '12
1927 M-S
as
),5
Gold 42
1917 F-A
95
9812 Nov') --_ 12712 Mch'12 __
Fremt Elk & Mo V 1st 6s
1933 A-0
12712 12712 Western Teleph It Tel 5s__ _1932 J-J
9958 -9934 9914
993
1 11
-Unstamped 13t (is
1933 A-0 --------127 Mch' 2 ---- 127 12712 Wisconsin Cent 1st gen 4s_ _1949 J -J ____ ____ 9358Feb '14.____ 99 101
---1
9455 93
NOTE.—Buyer pays accrued interest in addition to the purchase price for all Boston Bonds • No price Friday: atest bid and asked.
1; Flat price
Fria
Friths?,
Dec 27 •
Philadelphia and Baltimore Stock Excha,nges—Stock Record, Daily, Teekly, Yearly
Share Pricer—Not Per Contum Prices
Saturday
Dec 21
fonday
Dec 23
110
20
-2012 21
.66
67
67
•..—_ 122 *____
4
*---- 1912 •183
2512 2612
-4114
74174
5014
50
•12
53145312
3812
38
72
72
1134
*11
303 3012
3
93)4 9334
8612 8612
16
1612
*33
3312
6018 6118
BO
50
2318 237
8
2758 27%
837 8•13
8
4
612 638
5012 5012
90
90
111,
4
11114
2058 *20
67
122
122
19 4 •1812
,
2514 25I
41
41
50
50
*12
5312 531
3778 38
72
7212
*11
1112
*293 3014
4
.92
93
8512 86',-4
16
1614
33
33
607 6114
8
5018 5014
2312 233
4
275 2758
8
8353 84
612 658
5012 5012
8912 89%
PHILADELPHIA
IVednesday
Dec 25
Tuesday
Dec 24
11 2
-112012
67
122
;Hr4
41
41
50
50
*12
*53
38
38
7212 73
*11
1112
*2934 3014
*92
0212
*8558 853
4
16
16
33
33
6034 61
50
50
2312 235
8
*2712 2734
*8334 83%
6,4 653
5012 5012
9014 9014
Bid
Ask
Thursday
Dec 26
Friday
Dec. 27.
Sain
ACTIVE, STOCKS
0 the
1Veek (For Bonds and Inactive
Stocks se; below)
Shares,
Izterst
Lange ;or Freinous
Year (1911)'
Lowest
Highest
64 Jan
89 Jan
7 Nich
45 Feb
121 Jan
'20 Jan
33 Jan
1111-Jan
1512 Dec
101 Sep
10 Aug
79 J'ly
13078 J'ne
27 J'ne
50 Nov
1978 J'ly
11112
112
21
68
122
1831
4614
2512
Baltimore
Con Gas It! L It Pow..100
Do
pm'.
106
100
1,460 Elouston Olitr etts_100
Do
pre: tr ctfs 100
276
3 Northern Central _
_ 50
117 Seaboard Air Line _ _1 00
Do
pre_
.1.10
1,282 United Sty It Bleewtc_ :10
06 Jan 3 117 May 6
101 Jan 2 116 Apr 3
814 Jan 3 2518 Nov22
5313 Jan 25 72,2 J'ly 18
122 Dec 18 130 Apr 8
18 Dec 17 2714 May24
4512 Mch 14 5534 J'ne 10
1814 Jan 2 2658 Sep 9
*2
214
*41
4112
*403 41
4
4934 50
50
501.1
*12
*12
1212
53 13- 5314 5314
8
3834 3914 387 393
3
7234 7312
4
723 73
1112 11
*11
11
*2934 3014 *2934 3014
9214 9214 *9212 93
*855 85% z83/, 834,
8
16
16
4
*153 16
323 323
4
4 3234 3211
6034 61
609( 61
4
50
/30
*4975 50
2358 235
8 2312 233
4
*2712 2734 2758 2758
;f4 83% 8334
%831
83
612 6-(,
612 6(,
5012 5012 51
51
90
90
00
003
8
Philadel phis
American Cement____ 50
40 American Railways__ 50
1,576 Cambria Steel
50
Electric Co of America 10
280 Elec Storage Battery_100
6,475 Gen Asphalt tr cas___100
2,567
Do
pre( tr cas_100
50 Keystone Telephone_ 50
100 Lake Superior Corp__100
168 Leh C It Nay tr Ws_ 50
489 Lehigh Valley
50
712 Lehigh Valley Transit 50
Do pret
243
50
1,557 Pennsylvania RR
50
78 Philaciel Co(Pittsb)
50
3,739 Philadelphia Elea
25
402 Phil It T vot tr ctts
50
2,747 Reading
50
2,664 Tonopah Mining
1
530 Union Traction
50
United Gas Impt
5u
700
1 J'ne 14
7 Jan 10
5 Nov, 1717 Jan
4012 Oct 30 47 Sep 25
42 Jan
4612 Nov
4112 Meh 2 5518 Oct 10
4073 Sep
48.14 Feb
1112 J'ly 31 1212 J'ly 8
1112 Jan
1212 Jan
5234 Jan 16 5838 Aug 12
4813 Jan
5618 J'ne
18 Apr 2 3912 Dec 14
2812 Ana
, 3914 Oct
5914 Apr 2 7312 Dec 27
68 AUP: 8378 Jan
6 Apr 4 13 Sep 16
Os Dec'
913 Jan
11 Feb 20 3514 Sep 7
2112 Sep
32 Feb
877 Mch 20 100 Sep 25
8
8312 Pile
, 98 Jan
7818 Feb 5 92% Jan 16
7534 Sep 93%e Dec
S12 Jan 3 1678 Sep 16
61.) Jan
'37 Oct
3
23 Jan 12 3312 Dec 20
1812 Jan
2533 Oct
60 Dec 10 634 Apr 26
5938 Sep
65 Feb
4934 Dec 13 5614 Feb 16
4814 Sep
5914 J'ne
111638 Jan 2 2434 Sep 6
1512 Nov
18 J'ly
2218 May 6 29 Sep 13
17 Apr
2418 Aug
7414 Jan 11 8914 Apr 30 6O1'Is Sep
WI Feb
6 Dec 14
814 Apr 15
8 Jan
/
1
4
512 XIV
4934 Feb 28 53 Sep 9
43 Jan
5234 Aug
8614 Jan 9 9238 Aug 6
8414 Sep
893s Jan
Ask
Rid IAsk
*____ 112 *110
*111
112
204 207
/
1
8 2075
6712 6712 6734
*121
*-i5i2 1N12 1811
*4512
8
2513 2512 253
PHILADELPHIA
Bid
Inactive Stocks
Bonds
American Milling
10
Prices arc all "and
Amer Rys receipts
2 _ __
1021- - -_ - interest"
Cambria Iron
50
aa
Alt It T, V Eiec 4 545'3313
-A
Central Coal It Colce_100 92 93 Am Gas It Eke 58 '07_1 -A -8534 86
3
Preferred
An Rys 5s 1917
100 83 84
A-0
9512 96
100
_ ALI C Gas 1st s t 5s '60_J-J _87_ ___
Consol Trac of N J
.
.
Berg&EBrew 1st 6821 J-J
Germantown Poss..— 50
,,12 13ethieh Steel es 1998_Q-F
100 "ii - ,
Harwood Electric
ij
Huntington It B T___50 ..._.
Oh Ok It G gen 55 1910 J-J 161 - 10112
Preferred
50
-_-_-_-_ Con Trac of N J 1st 58 '33 ---Insurance Co of N A
10 "ii" 2214 Del Co Itys tr ctfs 4s'49J-J --- --Inter Sm Pow It Chem_50
Edison Elm 5s 1946_A-0
Interstate Rys, pret
10 ..7:- _ _ ... Rice It Peoples Tr tr ctfs__ -841- -ag - ..
.
2
Kentucky Securities__ 100
Fr Tac&H. 1st. 5s 1940_J-J
100 72 74 Gen Asphalt Os 1916..M-S -641- -05Preferred
1
Keystone Telep, pref.. 50
Harw Elea 1st 68 1942_1M-8 993 100
4
Keystone Watch Case_100
- _ Interstate 4s 1943
F-A
80
2
10 -171- 1812 Keystone Tel Os 1035_J-J
Lit Brothers
8613
50
Lake Sup Corp Inc 58'24_0
Little Schuylklii
75 __
MInehill It Schuyl II
Lehigh Nay 430'14 Q4
50
Nat Gas Mee Lt It Po_100 -Jo' - ____
Gen M 4 Hs g 1924_Q-I3
Preferred
100 80 _____ Leh V 0 1st 5.1 g 1933...14
North Pennsylvania,.__50
_
Leh V eat 45 1st 1948.J-D
Pennsylvania Salt
consoi as 1923
50 164 - 10412
J-D
iiiis
Pennsylvania Steel_ _100
Consol 4 ;4s 1923
J-D iii 104
Preferred
Annuity 63
100
-65 J-D
- 143
Phi's Co (Pitts) pref___50 -ii 4434
Gen cons 4s 2003 M-N
96 9638
Phil German It Norris...50
Leh V Tran con 49 '35 J-D
Phlla Traction
50 -ai- -8112
1st series A 48 1935-M-8
Railways General
10
1st series B 58 1935 M-S
Tonopah Belmont Dev__1
814 -.
134 MarketStEl 1st 4s'55 31-N .___ -0.61.-i
United Cos of N J____100 ---_
NatLII&P ser El 55'19 J-J
United Traci Pitts pref _50 -_-_ 35 New Con Gas 55 1948-S
-D ____ 166Virginia Ry It Pow__10 ---N Y Ph & No Ist 43 39 J-J
.
___
Preferred
100
Income 4s 1939
M-N -------Warwick Iron It Steel__10 1014 1012 pa It N Y Can tis '39..A-0
100 ---- ---- Penn Steel 1st 5s'17_M-N
WashIngton-Va Ity
100
People's Tr tr ctfs 4s 1943 __ .....-.-.:
Preferred
_
-100 -313 -if - P Co lst&colt tr 5s'411) 81-8 iiii- 10158
Welsbach Co
West Jersey It Sea Sh__50 - - -- -- -Con It coil tr 51 '51 M-N
9512 96
Westmoreland Coal____50 -- - - -- - - Phil Ellec gold Sr ctfe_A-0 10212 103
Wilkes Gas It Eleo
Trust otts 43 1949 __J-J
100
82, 8212
York Railway
15C -131- -11 4 P It 15 gen,II 52 g '20-A-0
4
10512
Preferred
Gen Id 43 g 1920
50 3612 3712
A-0 -- ..-__
L P. BM and asked: no sales on this day. ¶ Ek-tUY. It rights. 1 *15
paid.
Range Since
January 1
'
iv'
PHILADELPHIA
Ph It Rea(' 2d 5s 1033 A-0
Ex Imp hf 45 1947_A-0
Termini 5s g 1941.(4-1
3
P W & B col tr 4‘'21....J-J
Read Trac 1st Gs '33__J-J
Roth By It L con 58'55 J-J
Spanish-Am Zr 65 '27__J-J
Stand Gas It E Os'26_J-D
Stand SU Wks Ist5s'28 J-J
U Trao Ind gen 5s '10 _J-J
Un flys Tr ars 4s'49__J-J
United Rys In 1s coli tr
s t 5s 192 ----81-N(3
Welsbach s t 5s 1930__J-D
Wit-B G&E con 53'55_J-J
York flys 1st 5s 1937-J-D
BALTIMORE
Inactive Stocks
Atlan Coast L (Conn)-100
Canton Co
100
Consolidation Coal__ _100
Georgia Sou It Fla,.,,,._100
1st preferred
100
2d preferred
100
G-B-S Brewing
106
Bonds
Prices az, all "and
interest"
Bait City 3 3is 1930
J-J
4s 1954-1955___Various
M-N
5s 1916
Anacostia & Poto m 5sA-0
AtCoast I.cony deb 4.311-N
Atl Coast L(Ct)ctts 55 J-D
5-20-yr 43 1925
J-J
13 S P & C list 4 30'53 F
-A
halt Trac 1st 55'29__M-N
No Bait Div 5s 1942 J-D
Cent Ry cons 5s '32__M-N
Eat It Imp 5s 1932_11-S
Chas City Ry 1st 58'23 J-J
Chas By 0 It El 5s '99 31-S
City It Sub 1st 53 1922 J-D
City It Sub(Was)lst 53'48
# 13 34
paid.
11514
i6114
1021
-ig 82 8212
923 9312
4
260
135
9912 ia612
29
92
75
3
89
96
10112
985
4
99 100
102
92
95
/
1
4
1051
107
106
106
1031
97
1031
4
t *17 34 Paid.
BALTIMORE
Coal It C Ry 1st 5s'19 A-0
Coal It I Ry 185 5s '20_F-A
Col &Grnv lit Gs 1916 J-J
Consol Gas 5s 1939___J-D
Gen 4;is 1951____A-0
Cons (3 E & P 4 As '35 J-J
Consol Coal 55 1950_ _J-D
Fair It Cl Te 1st 5s'38 A-0
Ga It Ala 1st con 5s'45 J-J
Ga Car&N 1st 5s g '29 _J-J
Georgia P 1st Os 1922__J-J
Ga So It Fla 1st Is 5_J-J
G-B-S Brew 3-43 '51_M-S
Houston 011 div ctfs _F-A
Knoxv Trac 1st 5s '28 A-0
MaconRy&Lt 1st 5s'53 J-J
Md Eiec Ry 1st 55'31 _A-0
Memphis St 1st 58 '45_J-J
Monon V Trao 5s'42_J-D
Mt Ver Cot Duck 1st 5s__
Npt N It 0 P 1st 5s'38M-N
N It A Terml 55 '29_ 3,1-8
Nor&Port Tr 1st 5s'36 J-D
Norf By It L Os '49__M-N
North Cent 4 Hs 1925-A-0
Series A 52 1926____J-J
Series B 55 1926_ _ _J-J
P:tt Un Trac 5s 1997__J-J
Poto Val 1st 5s 1941__J-J
Say Fla It West 5s '34 A-0
Seab Air L 4s 1950___A-0
Scab It Roan 58 1926_,J-J
South Bound 1st 5s_ _A-0
U El L&P 1st 4 ;401'29 M-N
Un By It El 1st 45'49 81-S
Income 4s 1949___J-D
Funding iis 1935___J-D
Cony notes 5e 1914_ J-J
VaMld3dser 6s'16__M-S
4th ser 3-4-53 1921_14-8
5th series 15s 1926M-8
Vs (State) 3s new '32_J-J
Fund debt 2-3s 1991 J-J
West N C eon 66 1914_34
Wil It Weld Bs 1835___J-J
Bid
Ask
94
100
104
107 idf34
95
87
91% 92
100 101
1043
4
105 _
110
10514
4512
83 84
104
9712 98
7312 -fit;
98 66
92 93
/
1
393 914
4
100
103 105
108
103
106
109
10514
106
921 93
8334
6314 6312
881s
104 idic
103
103
105
8312
83/
11
4
10112
1091
[VOL. Lxxxxv.
THE CHRONICLE
1740
Indust and Illiscell-(con,) Bid Ask
5
....6 *4
American Thread pre,
51
Amer Typefounders corn.100 48
0
0 12
.
1N
m 1.1C 10212 105
Preferred
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
101
Bob g 03 1939
DAILY, WEEKLY AND YEARLY
3
2
JOU
Amer 1Vriting Paper
15
Barney & Smith Car com100 10
100 80 90
Preferred ..
ltailroad,
Stocks
85
50 80
retmd
(H %V)Co corn
U S.
State
Week ending
022
10 130
15
1651' 160 113
8
2
1
6s
'
Bonds
Bonds.
Bonds.
Par value.
Shares
Dec. 27 1912.
305
10(1 3
5
64
72 Bond & Mtge Guar
9712 10112 Borden's Cond Milk com 100 116 117
$25,000
396,708 $36,315,800 $1,293,50
Saturday
106
85 95.
Preferred
13,000
1,246,500
274,024 24,888,650
Monday
5
British Cot Copper Co...,1. 10*412 45
16
26,000
1,434,500
119,060 11,486,000
Tuesday
56
Brown Shoe corn
-Term Notes
Short
HOLI DAY.
Wednesday
100
Preferred
e
s
Amal Copper 5s 1913 A-0 093 997
36,000
1,148,500
102,585
9,703,000
Thursday
2
4
8
1
23,500 $60,000 Bait & Ohio 410 1913_J-D 993 093 Casein Co ol Amer com 111) 5594
1,378,000
126,701 12,001,900
Friday
40
9612
Preferred
Bkiyn Ro.p Tr 5s 1918 ..J-J 96
8
983 9838
) --0% 110 120
$123,500 $60,000 Ches & Ohio 454s 1914..J-D 9112 99 Casualty Co of Amerlea_ 1
1,019,078 $94,395,350 $6,501,000
Total
10.3 140 143
Celluiold Co
Chia & Alton 53 1913___M-S
9714 9734 City Investing Co
IOU 43
Chic Eley Rya 53 1914
Jan. 1 to Dec. 27.
9834 9914
Week ending Dec 27:
Sales at
100 100 101
Preferred
Cln Ham & D 43 1913__J-J
New York Stock
00
Erie es April 8 1914...A-OS 9934 10014 3. Cleflin (H B) Co com 100 85
1911.
1912.
1911.
e lot preferred
1912.
95
Exchange.
Coll 53 Oct 1 1914.., A-0 9812 99
e 2d preferred
1g !! 92
Coll bs April 1 1915_ _A-0 9712 98
127,053,553 Cen'i Motors 63'15-See N Y Stkl,;:, list. Cluett Peabady & Co com100
130,648,109
1,286,811
68
Stocks
-No.shares-. • 1,019,078
Preferred
0
()0
$94,395,350 $119,561,100 $11,790,885,700 $11,473,271,600 Hudson Companies
10 102 10234
Par value
$1,554,000
$757,700
$9,200
70
75
98 100 Consol Car Heating
F
-A
Bank shares, par
us Feb 1 1913..
14
4
983 Conso1 Rubber Tire _ _100
Bonds.
63 Oct 15 1913....A&015 98
$3,467,500 III Cent 45s 1914....J&J 99
$1,243,500
$33,000
60
$60,000
9912
Preferred
Government bonds.....
91,728,400 lot & Cl Nor Is 1914 _F
25,666,500
60
302,500
5
123,500
°
Debenture 4s 1951
1-0
A6 f 54
State bonds
-A 9712 08
791,908,200 Inter Harvester 5s '15.F&A
642,900,000
6,501,000 12,610,500
8
993e 997 e Crucible Steel corn,,_ 100 1612 1604
RR.and misc. bonds..
94
0 Preferred
& Lt 6s 1912_ M-6 / 87 8912
KC
$897,104,100 MinnRYSt L g 53 1913...F-A 96
$669,810,000
10
10) 93 8 2
$6,684,5001 $12,946,000
Davis-Daly Copper Co .( *17
97
Totalbonds
&
..
.
9914 duront( I) de Nem Pow 100 !!)O 195
Mo Kan & Tex Is 1913.M-N 99
9914
100
9612
DAILY TRANSACTIONS AT ME BOSTON AND PHILADELPHIA
e Preferred
Missouri Pacific 53 1914-1-D 96
67
EXCHANGES
Nat Itys of Hex 430'13.J-D 9712 9812 Emerson-BrantIngham 100 65
IOU 0912 100
Preferred
eNIC Lines Eq 53 1913-22 b 4.80 4.60
13
434s Jan 1913-1925. __J-J li 434 4.50 Empire Steel & Iron corn 100 10
Philadelphia.
Boston.
40 45
4
Preferred
4;0 Jan 013-1927 _J-J 1 43 4.50
Week ending
9912 e General Chemical corn,rl(t)) 182 200
N Y Cent 43s 1914.. __M-S 09
Bond
Unlisted
Listed
Bond
Listed Unlisted
Dec. 20 1912.
108 110
e Preferred
4
N IN H&Hartford 5.3.13J-D 9914 903
sales.
shares.
shares.
sales.
shares
shares
4
St L & S F 53 1913 opt J-D 983 9914 k Hackensack ‘Vater Co 101
Ref g 43 '52 op 1912
J-J 85 86
68 Sept 1 1914 opt...11-S
$15,000
12,488
7,334
$14,000
15,966
15,632
4
9 6813
9
9811 100 Havana Tobacco Co
Saturday
7
100
30,500 South Ry g Is 1913......F.A
2,818
6,349
12,000
8,988
12,327
8
Monday
15
Preferred
100
21,500 Wabash 450 1913_ __M-N
1;461
1,431
13,000
6,342
4,056
Tuesday
6412
1st g 55 Juno 1 11/22._J-D /62
West Maryland bs 1915_ J-J 9712 -9812
HOLI DAY
Wednesday
19,000 Westingh'se El & M es 1913 9834 9914 ifecker-Jones-Jewell Millin,; 10114
1,453
5,451
13,000
5,074
7,389
Thursday
61-6
1st (is 1922
10212
5% notesOct'17-See NY itk I. a IISI.
25,300
1,395
9,721
3,000
4,721
17,340
Friday
20
Elerring-Hall-Marvin _100 10
Railroad
20 Hoboken Land & Improve't
19,615 $111,300 e Chic & Alton cona......100 18
30,286
$55,000
41,091
56,724
Total
.
1st Is Nov 1930
e Preferred
100 2514 40
4
10O
e Ohio St P M dz Om...JOU 125 132 Hocking Val Products 14- N 164
52
.3-J
55
e Preferred
1st g 58 1001
100 150 160
.100 105
3 COW & South corn
100 3112 3212 e Ingersoll-Rand corn.
e Preferred
e 1st preferred
1011 69 72
now "and Interest" except where mari:ed "f"
All bond prices are
914 10
92
e 24 preferred
100 63 70 Intercontin Rub emu_ _I
60 Internet Banking Co
10(1 110 120
Bitt Ask e N Y Chic & St L corn - 100 54
Street Rail ways-Wen.)
146 147
e 1st preferred
55
100 99 __ International Nickel., 10_
Bid Ask Union Ely Gas & El coin 100 54
Street itall ways
106 107
_ 90
Preferred
e 2(1 preferred
89
__100
100 87
Preferred
2
5
100
Northern Securities Stubs.. 'la. 110 International Salt
80
United Lt & Rye corn-100 77
New York City
A-0 / 50
5211
35
1st g 55 1951
Pitts Bess & Lake Erie...50 *30
100 58112 84
First preferred
26
St & Ful Fy stk 100 21
Bleeck
70 international Silver pref IOU 134 138
Preferred
50 *60
100 z7212 75
Second preferred
70
J-J
1st mtge 4s 1950
J-D 109 11012
.
let 63 1048
Railroad Securities Co
100 174 181 United Rya of St LB'y & 7th Ave stk
.
111 stk In ctfs Ser A.... 80 89 Internet Smelt & Itefg 7.00 123 125
1018
Coat vol tr Ws..100 10
J&J 9914 10014
2d mtge 5s 1914
90
100 * 89
4
s
100 357 8614 West Pee 1st 53 1933..M-S 833 84 Lanston Monotype
e Preferred
Broadway Surface ER
100 212 218
.
Lawyers' Mtge Co
100 86 90
J&J 101 103 Wash Ey de El Co
1st 6a 1024
Lehigh Val Coal Sales...50 220 240
Standard 00 Stocks
100
Preferred
10
Cent Crosstown stock _100
3
19 Madison Sq (larchn Stubs .. *1
8014 Anglo-American 011
823s 64
£1 *18
J-D 88
4s 1951
1st mtge 6s 1922.. M-I' 104 ___62
68
Manhattan Shirt
32
Atlantic Refining
100 600 605
7 West Penn TrdzWat Pow 100 30
2
Cen Pk N & E Ely stock 100
1__)4 10212
Preferred
P
100 78 80
13orne-Scrymser Co
100 190 200
Preferred
13118
Christopher&lOth St stk 10.
Manhattan Transit
Buckeye Pipe Line Co....50 "175 178
14
Dry Dock E 13 & B
2
Chesebrough Mfg Cons_100 650 670 llonongehelalt Con C&C 50 *112
J-D 10014 10112 Electric, Gas & Power Cos
1st gold 5s 1932
50 l' ,..
Preferred
Colonial Oil
101, 130 143
New York City
42
F-A / 30
Scrip 5s 1914.
100 104 iar
102 103
Continental 011
100 1450 1625 Mortgage Bond Co
Eighth Avenue stock. _.100 310 320 Cent Un Gas bs
Crescent Pipe Line Co .50 .64 0/ 3 National Surety200 205
F-A / 99 101 o Kings Co El L & P Co 100 z127 130
Scrip Os 1914
70 e New York Dock com....1101
Cumberland Pipe Line_100 65
260 285 New Amsterdam Gas
424 & Or St Fy stock. 100
e Preferred
100 32
42
Eureka Pipe Line Co. i00 383 389
1st consol bs 1948_ __J-J 100 102
100
42d St 11 & St N Ave
Claiena-Signal 011 com_100 300 303 N Y Mtge & Security. 100 21.0 208
M'S 99 -- NY&ER Gas 1st 58'44 J-J 103 105
1st 63 1910
N Y Transportation.
20 *5
.100 135 140
J.J 101 103
Preferred
Consol 5s 1945
2nd Inc fis Jan 1 1915..... 78
Niles-Bern-Pond corn, 100 83 87
100 167Indiana Pipe Line Co__ ..5() *145 149
e N Y Mutual Gas L
NinthAvenue stock ......100 s160
51
Ohto Copper Co
- 10 *1
25 "50
114
National Transit Co
3 N Y & Q El L & Pow Co 100 53 -6V
1
Second Avenue stock. 100
212 3
100
New York Transit Co..100 342 345 e Ontario Silver
85
100 77
Preferred
40
Consol Ss 1948 ctfs _F-A 1 35
100 76
78
Pipe Line Co _100 115 118 Otis Elevator corn
Northern
100 53 62
Sixth Avenue stock.._100 115 120 N Y & Richmond Gas
10J 100 10112
Preferred
25 *126 128
Ohio 011 Co
J-J 88 93 North'n Un 1st 53 1927 131-N 100 102
Sou Bouley 53 1945
IOU 330 335 ePettibane -Mulliken Co100 2814 29
Prairie Oil &(las
A-0 90 95 Standard G L 1st 5s1030M-N 104 106
So Fer 1st Is 1919
100 08 100
Solar Relining
100 600 620 e 1st preferred
Other Cities.
Tarry WP & H 5s'28..M&S / 75 80
50 *8
9
Southern Pipe Line Co _100 265 270 Pittsburgh 13rewIng
84
50 *81
28 Am Gas az Lice corn
28 & 29th as 5s '96 ctfsA-0 1 20
50 *38
Preferred
30
South Penn 011
100 895 900
47
Preferred
50 *45
Twenty-third St stock _100 250 275
prof _100 90 100
Sou West Pa Pipe Lines_100 162 168 e Pittsburgh Steel
100 400 405
Union ity 1st 53 1042 F-A 104 105 Am Lt & Trao corn
100 35
Pope Mfg Co coin
37
Standard Oil of Calif. _100 172 174
Preferred
100 108 110
Westchester 181 5s '43...1-J 96 100
100 76
Preferred
78
Stand Oil of Indiana_ _100 340 345
Yonkers St RE 58 1946.A-0 88 95 Amer Power & Lt com_100 66 69
100 98 103
Preferred
100 z 8312 8412 Standard Oil of Kansas 100 450 475 Pratt & Whitney pref
Brooklyn
100 130
la Stand 011 of Kentucky _100 380 390 Producers 011
*12
50
102 104 Bay State Gas
Atian Ave Kit con bs'31A-0
Realty Assoc (uklyn)_100 110 116
Stand 011 of Nebraska __100 300 310
6
4
A-0 97 101 Buffalo City Gas stock _100
BB&WE bs 1933
Stand 01101 N J (old). _100 1125 1150 Royal Bak Powd com.„100 210 215
110 113
Brooklyn City RR__ _10 160 104 Cities Service Co corn.
100 105 108
Preferred
100 415 415
Stand 011 of N J
100 8612 88
Preferred ......
100 103
Bklyn lIgts 1st 5s 1941.A-0
1.. ilst
0
Standard 011 subsidiaries,.. 020 640 , Runiely (11) Co com-See
16
15
100 100 105 Jolunibla ties & Elec....10U
Coney 131 & Bklyn
Safety Car Heat & Lt. 100 c111 113
100 670 690
7512 Standard Oil of N I
J-J
1st 5s 1927
J-J 80 85
1st cons g 43 1048
lisS
iears,Itooluiektteo-SeeN I 311
Standard Oil of Ohio. 100 275 280
Con Gas of N J Is 1936..J-J 98 100
78 83
J-J
Con g 45 1955
Swan de Finch
ePreferred-See Chic Stk tOcIi
100 205 225
J-J 99 101 Coasmners' L H & Pow
Brk 0 de N Si I939
101) 288 292
74
Singer Mfg Co
Union Tank LineCo. _100 72
.._
J-D 100
5s 1938
1944.A-0 102 10314
Nassau Eleo 1st 53
OU
2
South Iron & ti corn
Vacuum Oil
1UU 184 187
Consumers Power (Minn )
N 1Vmsburg & Flatbush100
3
9
Preferred
8 9
8
6
V
1v te i ngtier O 1 II
10 *18 22
lst&ref 5s 1929op'14-M-N 8412 8 12 ‘ asil rs-yonce 0
92 95
30
lit 434s July 1941.....F&A
40
100 1450 1500 Standard Coupler com_10. 108
103 Denver G & El 55 1949.61-N
J-J 100
Steinway 1st 6.3 1922
100
112
Preferred.
tobacco Stocks
Elizabeth Gas Lt Co.. 100 325
Other Cities
IOU 77
Stern Bros prof
80
(See also Stock ExchangeList)
133
Buff St Ity let con 5s'31F-A 10312 10512 Essex & Hudson (has... 100
55 Sulzberger & Sons Co pf 100 97 09
Amer Machine & Fcly _100 45
100 87 90
106 Cies & El Bergen Co
A-0 104
Deb (Is 1917
Texas & Pacific Coal. 100 94 100
Tobac...c1 * 2334 24
Gr't West Pow 58 1946 J-J 8612 8712 13ritish-American
eChicago Union Tract coin..
97
Conley Foil
100 290 300 e Texas Pacific Land Tr_10./ 93
Hudson County (has.. 100 131 134
ePreferred
100 115 119
title Ins Co of N I
45
100 175 188
e Helm ((leo VI) com
661 Indiana Lighting Co_ __100 41
Com'w'Ith Pow Ity & L.100 65
lonopahMln(Nev)-SeePhlia .itk E , ilst
100 105 117
•Preferred _
-A 69
43 1958 opt
F
90
100 87
Preferred
4
(1
100
Potteries com _10
7
Johnson Tin Foil do Metal 100 180 200 Trenton
5 35
76 Indianapolis Gas
50
s Conn ity & Ltg ecom 100 75
65
Preferred new.
MacAndrews & Forbes_100 190 198
A-0 87 00
1st g 5s 1952
80
IOU 77
e Preferred
100 20
Prow Directory
Porto-Rican-Amer Tob_100 245 255
76 Jackson Gas 5s g 1937_ A-0 98 102
0
0
e Detroit United Sly __100 73
Typewriter corn 10u 84
36
Union
Reynolds(R Tobacco.100 240 250
Federal Light & Trao_._100 33 36 eLaelede Gas preferred 100 98
103 105
1st preferred
Tobacc., Products corn (w I) 115 150
(71
A-0 103
100 83 85 Madison Gas (Is 1926
Preferred
100 100 102
24 preferred
9778 9818
Preferred (w I)
98
Narragan (Prov) El Co _50 *4,93
e Havana Ow Sty L&P 100 8612
IOU
1
5212 United Copper
e United Cigar Mfra corn 100 50
Newark Gas 63 Apr'44.Q-J 124
100
e Preferred
100
8
Preferred.
15
e Preferred
100 104 109
i4
.7 .
100 07
k Loulsv St 5s 1930_ _J-J 1.5 .- 105 Newark Consol Gas
Goods __AMU 0912 100
4
- UnitedClgarStoresofAm coin 10914 1093 3 United Dry
New On flys & Lt corn 100 33 ---- No Ilud L II &P 53 1938 A-0 100
e
100 102 105
e Preferred
115 117
Preferred
Paciflo Gas & E corn
IOU x 6212 63
100 733
100 100 200
• Preferred
U S Casualty
e %Wyman Bruton Co....100 260 300
list
4-Preferred
100 9114 92
See
Pub Seri Corp of N J
0
0
100 105 110
U S Envelope corn
e Preferred
100 110 118
100 90 93
10712
Tr ctfs 2% to 05' perpet 8tk 1 1081 Pat & Pas Gas & Elec
112 115
Preferred
Young (J 8) co
100 170 180
04
90
J-.1
St Joseph Gas 5s 1937
North Jersey St Ey 100 80
IOU 65
e U S Express
70
2112
_ - Standard Gas & Elec(Del).50 *21
111-N
78
1st 45 1948
101
75
U 8 Finishing
Industrial and Miscellaneous
61
50 *50
Preferred
Trazt of N J....100 7512 76
Cons
10)
Preferred
07
e Adams Express
100 145 156
88 04
103 1031 United Electric of N J..100
1st bs 1933
J-J iiiii - 104
1st g bs 1919
Col tr g 4s 1947
J-D / 80 82
83
J-D 82
1st g 4s 1949
New'k Pass Ry 58 '30.J-J 107 1071
J-J 95 100
Con g 63 1929
100 115 117
2612 Alliance Realty
100 25
..100 235 ____ Western Power com
Rapid Tran St KY..
tk Ea tlet
U 8 Indus Alcoh
54
Amer Bank Note com__50 *51
52
100 51
Preferred
AU 102
1st bs 1921
95
100
e Preferred -8"N I8 93
Preferred
50 *5234 5412
78
Western States Gas&ElecJ C 1.1.3b & Pat 43 1949-11-N
U 8 Steel Corporation
American
A ercan Boo
100 165 175
lst&refg 581941 op.J-D 0212 96
125 128
So J Gas El & Trao......100
Col s 1 Apr 5s 1951 op 1911 114
Brass
100 137 140
M-S 08 100
Cu g bs 1953
Cola I Apr 5s 1951 not opt 114
American Chicle cons. 100 210 216
Ferry Companies
No Md.Co Ity 6s 1914 .1-.1 10012 -"
U 8 Tit Gil & Indem_ _100 85 I
Preferred
100 101 103
18
13 &1.1 Y Sat (3.3 1911
0
_J-J 08 07
J-J 102
Con Id be 1928
)0
0
(0 56
17 _
40 .
eAmerican Express _. 100 162 .2 e Virginia Iron C &
Est 63 1924......M-N 08 _ ___ N Y & E It Ferry stook..100
e Wells Fargo & Co--- 100 125 1.3
Am Graphophone corn _100
.
as-N 50 60
Pat Ey con 6819131-1-D 1121st 5,3 1922
C__1L'.
& Bronx TE
Preferred
100 75
2(1 Os 1914 opt....4-0 100 id - N Y & Hob 59 May '40 _J-D 100
Mtge Guar
161
American Hardware __JO( 213712
Hob Fy 1st 581946 11-N 105
27
Republic Ey 8, Light
100 24
Amer Malting 6s 1914 J-D 101 102 eWestingh'se Air Brake ...11) *7 142 •
Preferred
100 7812 8034 N V & N J 58 1946.....J-J 98
50 IViliys-Overland corn - 100 7012
Amer Press Assocn
100 40
35
4 23d fits Ferry,...100 25
2312 10th
Tennessee Ey L&P 00171 100 23
Preferred
100 5 99
9
7
Am Steel Fdy as 1935_ A-0 01 1070312
J-D 00
95
78
151 mtge 53 1919
100 76
Preferred
F P 1e
?WZIlyor h( W/ See NY Stk E a Hsi
Deb 4s 1923
F-A
17
100 15
Trent P & 11 53 1943 __J-D 96 _ _ Union Ferry stook
Worthington(11111Co p1_1))0 104 108'
61) 1190 200
American Surety
1920
93
lot 55
M-N 90
1
f Flat price. a Nomit al. s Salo price. t New stock. x
* Per share a And accrued dividend. b Basis. Is Listed on Stock Exchange but usually inactive. infrequently dealt In; record of sales, if any, will be found on
stock dividends and subscriptions. s Listed on Stock Exchange but
y Ex-nights • z Includes all new
preceding page.
Volume of Business at Stock Exchanges
Telegraph and Telephone
1(10
e Amer Teieg & Cable
e Central & South Amer_100
...25
Comm'i Un Tel(N Y)
Empire & Bay State Tel 100
100
Franklin
e Gold & Stock Teleg. 109
100
e Mackay Cm corn
100
e Preferred
• Northwoetern Teleg......50
25
Pacific & Atlantic
e Pao Telep & Teleg pref.100
25
Southern & Atlantic
Bid Ask
69
66
109 115
110 115
75
• 65
40 50
115 ._ __
80 84
Inactive and Unlisted Securities
•
iggW
,
,-; Westchester
1'01.
DEO. 28 1912.)
THE CHRONICLE
1.741
9.1nuestment and ?Railroad lntettivact%
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be cbta'ned. The first two columns of figures give the gros3 earnings for the latest week or month, and the last two
00 umns the earnings for the period from July 1 to and including such latest week or mon11. We add a supplementary
statement to show the fiscal year totals of those roads whose fis -cal year does not begin with July, but covers some other
_
Latest Gross Earnings.
ROADS.
Week or
llonth.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year
Latest Gross Earnings.
ROADS.
IVeek or
fonth.
July 1 to Latest Date.
Current
Previous
Year.
Year.
Ala N 0& Tex Pac3
3
3
$
$
8
$
$
N 0 & Nor East_ November
334,617 342,307 1,602,806 1,558,837 N Y N H & Hartf__ October
5,735,120 24,463,217
Ala & Vicksburg_ November
161,186 165.704
719,578 NY Ont & West___ October .._ 6,314,027 720,3033,625,975 22,180.321
7$3,685
801,424
3,394,140
Vicks Shrev& Pac November
161,844 148,134
617,034 N Y Susq & West__ October __
728,628
1,225,090
Ann Arbor
1st wk Dec
45,096
48,528 1,032,523 1,060,813 Norfolk Southern- October __ 325,035 345,061 1,172,601 1.338.430
Atch Topeka & S Fe November 10828886 9,948,421 50,808,116 45,737,808 Norfolk & Western_ October __ 307,745 278,227 15,021,923 1,051.852
3,888,376
Atlanta 131rm & Atl October -- 313.898 309.478 1,080,825 1,492,084 Northern Pacific__ October __ 7,667,044 3,445,793 28,229,714 13,469,728
6,601.918
23,369.817
Atlantic Coast Line October - 3,033.457 2,784.565 10,394.850 9,695,386 Pacific Coast Co__ October
746,792 761.989 2,951,230 2,912,954
Chariest & W Car October -- 190.700 197.015
650,877 Pennsylvania RR__ October __ 16374615 14353719 42,116,989 51,591,091
590,911
Loulsv Hen& St L October -- 121,397 115,312
Bait Ches & Ati_ October __
443,641
427,871
133,949
151,688
25.482
20,217
g Baltimore & Ohlo_ November 9,040,361 7,583,335 44,146,241 39,734,130
Cumberland Vail October __ 320,185 268,425 1,182,585 1,097,852
B & 0 Ch Ter RR October
153,824
Long Island
560,644
646,803
October __ 958,400 676,741 4,605,998 4,315,989
Bangor & Aroostook October __ 315,459 303,322 1.040,683 1,145,214
Maryl'd Del & Va October __
14,991
67,975
73,423
11,203
Bessemer & lake E October __ ,961.443 908,653 3,902,980 3,826,555
N Y Phila & Norf October -_ 299,023 289,717 1,295,019 1,188,142
Birmingham south_ October .._ 101,639
Northern Central October __ 1,223,916 1,201,425 4,561 536 4,358,236
71,360
277,549
374,675
Boston & Maine
October __ 4,51647 4,115,342 17,740,296 16,413,809
Phil Bait & Wash October __ 1,831,094 1,667,127 7,349,082 6,623,444
Buff Roch & Pitts 3d wk Dec 222,n79 182 339 5,552,
W Jersey & Seash October __ 460,270 446,619 2.941,339 2,813,736
.
828 4,735,847
Buffalo & Susq
September
626,328 Pennsylvania Co._ October .._ 8,134,793 5,221.338 24,156,318 20,430,318
203.348 211 211
.
.
604 452
Canadian Northern. 3d wk Dec 477,260 439,500 11,624,600 9,828,200
Grand Rap & Ind October __ 483,601 453,119 2.025,823 1,882,294
Canadian Pacific .... 3d wk Dec 2,865,000 2.528.000 60,530.210 59.267.709
Pitts C 0 & St L_ October __ 4,181,897 3,533,145 15,600,576 13,880.993
Central of Georgia_ 2d wk Dec 264,800 288,000 6,625,465 6,588,107
Vandalic
October __ 1,083,154 919,761 3,965,931 3,499,669
Cent of New Jersey October - 2,881,994 2,640,-23 11,436,868 10,127,744
Total
Cent New England- October East Pitts & ...._ October __ 22971359 20451144 90,370,351 80.603,861
329.691 317,868 1,305,629 1,111,647
Lines_.
Central Vermont
October _-_ 389,884 376,483 1,522,381 1,487,173
West Pitts & E.._ October __ 12023004 10246140 16.252,253 40,155,546
Chas & Ohio Lines_ 3d wk Dec 726,918 680,415 17,017.657 16,255,529
All East &West October -- 34994363 30697284 136622605 120759408
Chicago & Alton
2d wk Dec 284,320 276,284 7.523,755 7,252,421 Pere Marquette.....
Chic laud & Quincy October _ 9,575,518 8,320,216 33,967,735 31,465,144 Reading Company October __ 1,625,536 1,609,287 6,134,285 6.045,183
p_ Chic Great West.. 34 wk Dec 323.755 280,027 6,952,382 6,537,781
Phila & Reading_ October __ 4,789,607 4,116,724 17,520,275 15,109.777
Chic Ind & Louisv. 3d wk Dec 137,865 112,108 3,470,980 3,228,745
Coal & Iron Co.... October __ 4,781,547 3,748,332 14,092,386 9,932,499
Chic Milw & St P. October.- 7.244,754 6.141,525 26.918.521 22,643,704)
Total both cos
October
Chic Mil & Pug S October __ 2,165,324 1,582,690 7,600,651 5,647,119 Rich Fred & Potom October -_ 9,574,154 7,865,056 32,112,661 25,042,277
__ 211.981 197,611
871,048
766,963
vOhic & North West November 7,335,104 6,525,088 33,470,068
Rio Grande June... September
277,122
312,085
vOhic St Paul M&O November 1,589,748 1,399,368 7,831,869 34,474,043 Rio Grande South 25 wk Dec 129,465 110,241
6,821.083
12,124
11,t45
3137,219
231,172
Chicago T H & SE.. October __ 188,581 168,474
664,446
627,411 Rock Island Lines October __ 7,103,127 6,188,324 25,773,411 22,953,189
Cie Ham & Dayton November
945,1 837,504 4,718,936 4,555,241 Rutland
October __ 351,916 320,19 1,384,011 1,284,433
Colorado Midland.. October __ 228,48
733,998 St Jos & Gr Island_ October __ 168,851153,83
203.303 _ 784,615
620,597
609,314
b Colorado & South. 3d wk Dec 299,50
289,397 1.
805 7,363,490 St L Iron Mt & Sou October __ 3.100.402 2,830,765 11,594,783 10,115.928
510,
Cornwall
October __
15,914
19,778
81,530
63,668 St L Rocky Mt & P October __ 196,226 149,200
666,664
542,492
Cornwall & Lebanon October __
25,053
32,927
117,118 St Louis & San Fran October __ 4,370,010 4,122,871 15,834,361 14,558,113
142,044
Cuba Railroad
October __ 289,813 257,682 1,257,574 1,037.957
f Chic & East Ill_ October __ 1,480,539 1,471,325 5,612,912 5,429,808
Delaware & Hudson October __ 2,021,740 1,955,818 8.385,266 7,599,833
Total all lines
October __
Delaware Lack & W October __ 3,860,824 3,301,710 14,142,017 12,897,462 St Louis Southwest_ 3d wk Dec 3,850,519 5,594,196 21,449,272 19.987,924
277,000
Deny & Rio Grande 3d wk Dec 455,200 425,500 12,859,412 12,035,101 San Ped LA & St L October _ 300,000 751,511 6,667,403 6,007,553
908,063
3,398,391
Western Pacific_ October __ 632,031 630,233 2,290,090 1,990,089 Seaboard Air Line.._ 2d wk Dec 493,154 476,474 10.497,610 2.979,425
10,152,850
Denver N W & Pee October
110,474
484,365
487,066 Southern Pacific Co November 12651418 11953913 63,496,603 57,772,888
Detroit Tol & Iront October _ _ 173,457 173,797
611,537
625,497 Southern Railway 3d wk Dec 1,422,734 1,316,911 33,121,940 30,644,718
Detroit & Mackinac 2d wit Dec
22,202
21,154
574,179
558,639
Mobile & Ohio "1 wk Dec 227,421 234.929 5,516,480 5,346,849
poi & Iron Range_ October_ 052,324 938,074 4,049,974 3,952,082
Cin N 0 & Tex P 2d wk Dec 194,999 172,671 4,550,950 4,382,751
Dui Sou Shore & At! 2d wk Dec
55,329
54,731 1,574,267 1,522,715
Ala Great South_ 241 wk Dec
93,623
89,579 2,318,636 2,142,763
Elgin Joliet & East., October __ 1,149,904 891,848 4,398,222 3,291,943
Georgia Sou& Fie
56,323
53,543 1,131,956 1,118,597
El Paso & So West_ October -_ 757,683 820,637 2,730,932 2,251,704 Spok Port & Seattle 2d wk Dec
October __
Erie
October- 5,780,078 6,205,847 22,347,031 20,587,865 Tenn Ala & Georgia 1st wk Dec 512,925 475,908 1,911,353 1,782,218
2,445
2,055
59,063
49.785
Fairchild & N E
3,150
November
2,870
12,012
10,421 Tennessee Central.. October __ 152,684 134,261
568,589
500,032
1P1orida East Coast_ October __ 326,788 270,620 1,107,695
926,800 Texas & Pacific_
33 wk Dec 419.461 392,906 9,252.074 8.577,708
Fonda Johns& Glov October __
77,486
80,576
352,988 Tidewater & Wait_ October _
368,118
7,5
8,681
36,313
35,092
Georgia Railroad October _ 222,088 345,323
987,694 1,151,023 Toledo Peor & West ad wk Dec
669,184
21,281
23,604
616,323
Grand Trunk Syst_ 2d wk Dec 1,052,340 929,821 25,949,484 23,60,366 Toledo St L & West 2d wk Dec
97,981 1,882.789
86,358
Grand Trk West.. let wk Dec 143,294 127,505 3.194,394 2,930,200 Union Pacific Syst_ November 3,731,119 7,677,923 43,737,121 1,904,155
39,869,383
Dot Or II & Milw 1st wk Dec
46,300 1,148,881 1,071,360 Virginia & So West- November
51,551
154,851 145127
753,261
728,765
Canada Atlantic.. let wk Dec
38;199
970,572 Virginian
30,807 1,112,222
. October __ 486,837 418, 63 1,764,229 1,580,778
Great North System November 7,757,543 3,224,730 37,398,088 31,633,770 Wabash
Novembe? 2,7013,857 2,434, 07 14,171,696 12,856.258
Gulf & Ship Island_ October __ 177,046 159,476
646,446 Western Maryland_ October _ 630,478 631,075 2,557,341 2,524,679
669,160
ocking Valley
October _ 734,800 656,758 2,888,074 2,673,710 Wheel & Lake Erie_ November
712,826 636,708 3,759,657 3,458,540
Illinois Central_
November 5,476,774 4,93,300 27.649,478 25,474,100 Wrightsv & Ten oille October __
105,0V
40,725
36,407
122,123
Internet & Girt Nor. 3d wk Dec 252,000
6,090,500 5,289178 Yazoo & Miss Vali_ November 1,137,340 1,081,291 4,514,330 4,189,652
a Interoc,eanic Mex_ 3d wk Dec 150,704 227,033 4,059,945 3,943, 60
183,748
Kanawha & Mich October __ 293,153 316.439 1,196,316 1,212.403
Current
Preoiou3
Kansas City South_ November
959,329 861,243 4,593,763 4,033,549
Various Fiscal Years.
Period.
Year.
Year.
Lehigh Valley
November 3,744,281 3,320.232 19,081,325 16,713.873
Lexington & East October __
61,855
46,307
194,724
245,904
8
$
Louisiana & Arkan_ October __ 128,133 109,671
Delaware & Hudson
529,732
429.982
sLoulsv & Nashville 2d wk Dec 1,176,055 1,126,190 27,193,094 25,931,957 NY Central & Hudson River_e_ Jan 1 to Oct 31 18.491.276 17,823,841
Jan 1 to Oct 31 90,539,548 86,427,535
Macon & Birin'ham November
Lake Shore & Michigan South Jan 1 to Oct ' 1 14,541,083 40,261,349
13,349
72,486
14,678
71,322
Maine Central
October __ 1,032,032 083,623 4,103,879 3,911,327
Lake Erie & Westera_n
Jan 1 to Oct 34 4.803,687 4,518,755
Maryland & Penna.. October __
00,336
Chicago Indiana & Southern_ Jan 1 to Oct 31 3,460,670 3,129,786
43,170
166,818
184,884
a Mexican Railway_ 1st wk Dec 155,200 160.000 3,012,800 3,440,400
Michigan Central
Jan 1 to Oct 31 26,962,438 24,'81,790
Mineral Range__ 2d wk Dec
15,877
Clev Clti Chic & St Louis...... Jan 1 to Oct 31 26,680,505 25,276,891
340,701
387,661
14,508
Minn & St Louis__ 1 3d wk Dec 214,537 166,108 4,914,522 3,926.706
Peoria & Eastern
Ja m 1 to Oct 31 2,770,336 2,673,516
Iowa Central_ _
Cincinnati Northern
Jan 1 to Oct 31 1,147,404 1,021,663
Minn St P & S S i11.. October _ 2,588,926 1.788,700 7,662,187 6,277,485
Pittsburgh & Lake Erie
Jan 1 to Oct 31 14,962683 12,747,907
Chicago Division. October __ 1,006,167 827,791 3,691,259 3,314,613
New York Chicago & St Loth:- Jan 1 to Oc: 31 9,962.980 9,250,749
Mississippi Central.. October __
83,535
77,758
338,096
308,686
Toledo & Ohio Central
Jan 1 to Oct 31 4,417,49i 4,078,521
u Mo Nan & Texas.. 3d wk Dec 625,781 51007 16,437,417 14,659,773
Total all lines
Jan 1 to Oct 31 230298810 214268511
z Missouri Pacific.._ 3d wk Dec 1,135.800 1,0i .0 30,683124 27,385,11 Ponnsylvania Railroad
Jan 1 to Oct 31 144147105 129910773
Nasliv Chatt & St L October _ 1,170,229 1,0 ,4
4,391, 20 4,082,4 9
Baltimore Chesap & Atlantic_ Ian 1 to Oct 31
264,360
239,205
aNat Rya of Mex_t_ 3 wk Dec 1,288,040 1,1 3,0 0 30,739, 98 30,521,3 5
Cumberland Valley
Jan 1 to Oct 31 2,716,889 2,399,138
Nevada-Oat-Oregon
wk Dec
4,417
7,482
230.165
Long Island
179,133
Jan 1 to Oct 31 9,524,055 8,999,383
0 Great Northern October __ 133,381 140,754
662,599
571,169
Maryland Delaware & Va_ _ Jan 1 to Oct 31
122,312
116,950
0 Mobile & Chic.. October __ 224,901 11804
010,002
786,105
NY Philadelphia & Norfolk Jan 1 to Oct 31 2,991,164 2,786,588
._
eN Y 0& Hui Ely_ October __ 10492479 9,55 ,552 40,027 152 37,61.9'2
t
Northern Central
Jan 1 to Oc , 31 10,72,138 10,566,038
Lake Shore 111 f3 October __ 5,172,316 4,36 ,609 19,495,168 17,51 , 14
Philadelphia Bait & Wash
Jan 1 to Oct 31 16, 51,679 15,742,782
nLake Erie
W_ October ._ 562,3
488,258 2,150,096 1,99 , 0
West Jersey & Seashore.
Tan 1 to Oct
5,632,176 5,401,122
Chic Ind & South October __ 423,04
368,328 1,434,878 1,25EJ 9 Pennsylvania Company
Jan 1 to Oct 31 51,656,040 44,893,827
Michigan Central October __ 3.204.9402,866,021 11,7' 5.046 10122.3
Grand Rapids & Indiana
Jan 1 to Oct 31 4,521,541 4,227,451
Cloy 00 $6 St L_ October -- 3,188,640 2,r7,279 11,9 589 10, 510
Pitts Clue Chicago & St L
Jan 1 to Oct 31 35,858,957 31,932,607
Peoria & Eastern cctober __ '
30,935
0,71 1,263,857 1, , i
Vaudalia
Jan 1 to Oct 31 8.785,640 8,269,664
Cincinnati North October __
05,324 '
2,68
48O,91Total lines-East Pitts & Erie Jan 1 to Oct 31 205036248 187520164
530.651
Pitts & Lake Erie October - 1,836,554 1,442,3236,8 2,247 5,8 ,(1,
West Pitts & Er Jan 1 to Oct 31 102018503 90.222,743
N Y Chic & St L.. October __ 1,253,014 1,001,351 4,230,707
All lines E & W Jan 1 to Oct 31 307054751 277712908
Tol & Ohio Cent.. October -- 814 872 800,940 1,998,443 3,85 ,94
1.1370,24
Blo Gra,nle Junction
Dec 1 to Sept 30
783,686
Tot all linesabove October __ 2713444 23673061 101738988 93,290,18
Rutland
Jan 1 to Oct 31 2,999:297 2,858,262
Current
Year.
Previous
Year.
-.174,484
-.112,745
AGG.O.EGAEJ OF 4,-OSS EARNINGS-Weekly and Monthly.
Current
Year.
Previous
Year.
Increase or
Decrease.
Current
Year.
Increase or
Precious
Decrease.
Year.
%
$
fileage. Cur. Yr. Prev. Yr.
$
A
•
$
p4 week Oct 39 roads
16,003,028 15,017,035
February _237,082 233,191 218,031,094 197,278,939 +20.752.155 10.52
+985,991 6.56
ad week Oct /39 roads___ 16,343106 15.054,025 +1,289,431 8.57
March
238,218 231,692 237,564,332 224,608,654 +12,955,678 5.77
th week Oct 39 roads ...._ 24,173, 98 21,461,0
+2.712,1410 914
Aerll
236,722 233,007 220,678,465 216,140,214 +4,538,251 2.10
i week Nov 36 roads)--- 14,698, $0 13,774,2
sb
+91 47
May
235,410 231,597 232,229,14 228384,686 +6,044,698 2.67
d week Nov 37 roads)___ 15,621,495 14,075,09 +1,1 . 97
June
230,385 230,894 243,226,4 8 228,647,383 +14,579,115 6.38
3d week Nov i35 roads)--- 16,269,490 13,482,111 +1,7 , 79 13;
July
30,712 227,1 115,095,5 2 222,587,872 +23,007,860 10.34
4th week Nov 39 roads)---- 2Q,632,330 18,527,249 +2,1 0, 90 11.
August
39,230 20,4 4 2 6,17,410 25,07,032 +26.860,384 10.30
1st week Dec 39 roads -_ 124,763 14,334,170
+7 0,550 512
September.._237,691 235.140 2 2,2 9,6 9 25 .318.597 +19,891,032 7.88
20 week Deo 37 roads -- 15.0138,9
14,187,936
+$71,048 6.13
October
237,217 233,545 293.7 8,0 1 25$.473,408 +35,204,683 13.64
3d week Dec 19 roads ---- 11,320,8
10,281,427 +1,048,460 10.20
November
86.371
84.098 79.457.311 7 .015.980 +8.441.331 11.88
a Mexican currency. b Dees not include earnings of Colerado Springs& Cripple Creek District Railway
from
1911. e
IOn & Albany, the Now York & Ottawa, the St. Lawrence & AdIrondack and the Ottawa & New York Railway, theNov. 1of which, Includes the Iloslatter
being a Canadian
read,does net make returns to the Inter-State Commerce
Evansville
Terre Haute 4nd
cludes the Cleveland Lorain & Wheeiing Ry. In both years. Commission. f Includes Ohio RR. &Includes earnings Evansville & IndlanaRR.g Inn Includes the Northern
p
of Masen City & Pt.
Wisconsin Minnesota Pacific. s MsLoulsvi e & Atlantic and the Frankfort & Cincinnati. t Includes the Mexican International. Dodge and
u Includes
he Texas Central in both years and tile Wichita Falls Lines in 1912, beginning Nov. 1. v Includes
not only operating revenues, WI also all other
fecelDts. z Includes St, Louis Iron
ountain & Southern.
.
, _
- ...,
--""•*-----., 4. P......4,1ittl ..•- + .----Weekly Summaries.
•
donthly Summarte:.
to:I
-In the table which
Latest Gross Earnings by Weeks.
follows we sum up separately the earnings for the third
week of December. The table covers 19 roads and shows
10.20% Increase in the aggregate over the same week last
year.
Third week of December.
Buffalo Rochester & Pittsburgh
Canadian Northern
Canadian Pacific
Chesapeake & Ohio
Chicago Great 1"4 estern
Chicago Ind & Louisville •
Colorado & Southern
Denver & Rio Grande
Internat & Great Northern____
Intercceanic of Mexico_
Minneapolis & St Louis
1
Iowa Central
Missouri Kansas & Texas
Missouri Pacific
National Railways of Mexico__
St Louis Southwestern
Southern Railway
Texas & Pacific
Toledo Peoria & Western
Total (19 roads)
Net increase (10.20%)
EvoL. Lxxxxv.
THE CHRONICLE
1742
1912.
1911.
Increase. Decrease.
182,339
222,579
439,500
177,200
2,865,000 2,528,000
685,415
726,918
280,027
323,755
112,108
137,865
289,897
299,509
425,500
455,200
227,000
252,000
183,748
150,704
166,108
214,537
40,240
37,700
337,000
41,503
43,728
25,757
9,612
29,700
25,000
548,607
625,781
1,125,000 1,042,000
1,288,040 1,163,000
277,000
300,000
1,422,734 1,316,941
392,956
419,461
21,281
23,604
77,174
83,000
125,040
23,000
105,793
26,505
2,323
33,044
48,429
11,329,887 10,281,127 1,081,504
1,048,460
33,044
Interest Charges and Surplus.
-Int., Rentals, &c.- -Pal. of Net Earns.
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
177,585
171,394 x166,450 x133,175
Buffalo Roch & Pitts_ __Nov
' 862,211 z955,250 z758,166
July 1 to Nov 30
894,031
x51,306
Chicago Great Western_Nov 227,667
x110,645
221,741
1,121,211 1,129,644 x749,606 x561,477
July 1 to Nov 30
971,400
765,877 1,372,186
Chicago & North West Nov 888,712
4,292.549 3,610,357 8,055,581 6,945,024
July 1 to Nov 30
186,118
284,381
249,296
Chicago St Paul M & O_Nov 195,726
869,832 1,299,355 1,073,792
July 1 to Nov 30
962,908
267,435 x356,672 z260,213
& Southern__ „Nov 282,412
Colorado
1,413,583 1,380,077 x1,140,589 x1,190,049
July 1 to Nov 30
x4,336
5,213
x4,966
6,920
Nevada-Cal-Oregon ___ „Nov
x36,401
z46,174
25,438
July 1 to Nov 30
34,624
INDUSTRIAL COMPANIES.
-Int., Rentals, &c.- -Bat. of Net Earns.
Previous
Previous
Current
Current
Year.
Year.
Year.
Year.
Companies.
•
Roads.
Canton Elect
Muncie Elect Lt
Rockford Elect
Scranton Elect
Western Power Co
Wheeling Elect
Nov
Nov
Nov
Nov
Nov
Nov
4,699
6,935
7,950
13,129
87,775
5,312
4,756
6,076
7,729
11,907
78,662
3,289
11,760
13,978
15,881
32,634
x50,248
7,467
10,351
10,099
12,116
30,530
x22,096
9,675
For the second week of December our final statement
x After allowing for other income received.
covers 37 roads and shows 6.13% increase in the aggregate
ELECTRIC RAILWAY AND TRACTION COMPANIES
over the same week last year.
Second week of December.
Previously reported (26 roads)_
Alabama Great Southern
Chicago Great Western__ _____
Cinc New Or!& Texas Pacific__
Detroit & Mackinac
Georgia Southern & Florida_ __
Louisville & Nashville
Mobile & Ohio
Nevada-California-Oregon
Seaboard Air Line
Toledo Peoria & Western
Toledo St. Louis & Western_ _
1912.
1911.
Increase. Decrease.
3
$
$
$
55,755
12,421.370 11,604,964 872,161
4.044
89,579
93.623
23,680
290,799
267,119
22,328
172,671
194,999
1,048
21,154
22,202
2,780
53,543
56,323
48,865
1,175,055 1.126,190
7.508
234,929
227,421
3,065
4,417
7,482
16,680
476,474
493,154
1,357
25,235
23,878
11,623
97,981
86,358
Latest Gross Earnings.
Name of
Road.
,
Week or
Month.
Current Previous
Year.,
Year.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
$
$
$
$
$
American Rys Co___ November 402,878 376,195
337,144
319,289
22,756 21,363
Atlantic Shore Ity___ November
cAur Elgin & Chic Ry November 155,213 140,050 1,757,574 1,640,984
588,014
491,497
Bangor Ry & Elec Co October __ 62,964 53,129
120,503
96,315
Baton Rouge Elec Co October
13,315 10,593
292,100
321.425
_- 38,570 36,418
Binghamton Railway September
Brazilian Tr, Lt & P_ October __ 1770,187
103,044
104,108
9.336
9,594
Brock & Plym St Ry_ October __
Bklyn Rap Tran Syst August ___ 2251,548 2119,302 16,223,584 15,470,394
275,148
291,226
Cape Breton Elec R y October __ 31,133 31,650
99,923 Cent Park N & E Riv August ___ 57,094 56,864
15,068,984 14,197,936 970,971
431,577
Total (37 roads)
421,930
871,048
792,543
73,921 68,648
836,927
Net increase (6.13%)
Central Penn Trac__ November
877.927
780,934
Chattanooga Ry& Lt October -_ 95,581 83,698
327,02$
310,567
Cleve Painesv & East October __ 32,692 30,974
945,618
99,404
Clev Southw &Colum
-The table Columbus(Ga) El Co October __ 106.915 44.452 984,626 401.046
Earnings Monthly to Latest Dates.
Net
444,249
October __ 48,766
following shows the gross and net earnings of STEAM rail- Commonw P,Ry &Lt October _ _ 573,053 482,351 5,154.963 4,462,809
989,311
Coney Isi'd & Bklyn_ August ___ 183,008 81,491 1,103,253
roads and industrial companies reported this week:
182,459 1.483,568 1,333,351
October___
- Dallas Elec Corp.._... 4th wkNov 202,728 241,302 10,616,822 9,299,152
-Gross Earnings- -Net Earnings
284,218
Detroit United Ry__
Current
Previous
Previous
Current
405,803
410,089
DDEB& Batt(Rec) August __ 51,545 53,666
Year.
Year.
Year.
Year.
Roads.
980,113 1,035.254
91,687 93,217
Duluth-Superior Trac November
$
$
$
$
East St Louis & Sub_ October __ 227,088 200,629 2,000,223 1,878,479
Atch Topeka & S Fe_b_Nov_10.828,886 9,948,420 54,110.725 33,817,132 El Paso Electric Cos_ October __ 71,029 62,011
555,430
637,081
50,808,116 45,737,808317,904,463315,578,637 42d St M & S N Av. August ___ 154,371 139,813 1,172,400 1,037,887
July 1 to Nov 30
Baltimore & Ohio_ b____Nov 9,040,351 7,583,335 2,721.428 2,227.374 Galv-Hous Elec Co__ October __ 175.449 132,645 1,663,190 1,254,062
966,461
44,146,241 39,734,130 13,699,749 12,778,891 Grand Rapids Ry Co October __ 101.569 93.587 1.025,834
July 1 to Nov 30
753,104
260,914
237,677 Havana Electric Ry_ Wk Dec 22 50,198 48,291 2,498,082 2,341,111
Buffalo Roch & Pitts_ b_Nov 918,611
4,121,937 1,503,107 1,347,325 Honolulu Rapid Tran
4,839,035
July 1 to Nov 30
October __ 49,243 42,582
463,717
409,727
& Land Co
877,800
665,200 Houghton Co TracCo October __ 24,853 24,250
Nov 2,509,700 2,001,500
256,974
Canadian Northen
254,147
10,107,900 8,503,300 2,872,000 2,441,300 Hudson & Manhattan August ___ 268,177 222,416 2,374,237 1,946,486
July 1 to Nov 30
October
640,510 6,010,948 5,623,806
262,483 Illinois Traction _
332.313
Chicago Great West_b_Nov 1,176,762 1,079,290
6,088,473 5,693,117 1,829,282 1,633,582 Interboro Rap Tran October __ 2910,938 2707,569 26,358,342 24,795,601
July 1 to Nov 30
399,124
Jacksonville Trac Co August __ 48,856 44,565
377,688
Chicago & North West a Novf7,335,104 16,425,068 2,260,898 1,737,277 Lake Shore Elec By. October __ 110,505 107,620 1,109,025 1,069.857
138.470,088134,474,943 12,348,130 10,555,381 Long Island Electric_ August ___ 28,473 24,854
July 1 to Nov 30
152,912
145.798
435,415 Milw El By & Lt Co_ October __ 482,309 448,150 4,568.923 4,122,458
480.108
-1,589,748 11,399,366
Chic St Paul M & 0_a_ _Nov1
17,831,869 16,821,083 2,262,264 1,943,624 Milw Lt, lit & Tr Co October __ 101,426 92,932 1,042,953
July 1 to Nov 30
943,672
674,642
776,165
70,715 63,003
222,160 MonongahelaValTrac November
257,656
837,504
Cin Ham & Dayton_ b_ _Nov 945,754
288,901
191,411
4,718,936 4,555,241 1,423,747 1,378,012 NY City Interboro August ___ 37,677 26,531
July 1 to Nov 30
260,626
259,043
NY & Long Isl Trac_ August ___ 41,041 39,098
505,268 N Y & Queens Co
Colorado & Southern_ b_Nov 1,514,629 1,338,153 . 594,960
890,721
835,574
August ___ 130,458 116,831
6,611,067 6,463,089 2,312,742 2,392,826 New York Railways. October __ 1255,203 1210,060 11,436,337 11,363,072
July 1 to Nov 30
2,870
1,047
1,026 Northam Easton & W November
3,150
168,840
154,765
Fairchild & Northeast b Nov
14,809 13,075
10,421
1,212 North Ohio Trac & Lt November 239,141 214,562 2,736,156 2,454,651
def8,876
12,012
July 1 to Nov 30
__
Nov 3,744,284 3,320,232 1,293,276 1,200,177 North Texas Elec Co October ___ 201.567 168,512 1.450.679 1,346,516
Lehigh Valley_ b
112,914
96,961
August
19,081,324 16,713,873 6,981,489 5,872,185 Ocean Electric (L IL. October __ 34,100 28,546
July 1 to Nov 30
233,107
24,643 21,775
215,005
Paducah Trac& Lt Co
Minneap & St Louis_a__Nov 861,159 '648,352 k240,681 k101,288 Pensacola Electric Co October __ 24,759 24,415
237,031
236,807
4,310,746 3,434,642 k1,269,786 k804,380 Phila Rapid Trans Co November 2008,400 1881,975 21,216,474 20,177,067
July 1 to Nov 30
9,099 Port(Ore)Ry.L &PCo October __ 565,839 540,764 5,484,589 5,238,372
31,898
11,567
37,121
Nevada-Cal-Oregon_b__Nov
6,877,898
60,346 Puget Sd Trac, L & P October
77,939
715,378
168,625
213,684
July 1 to Nov 30
248,857
259.000
Richmond Lt & RR..
Nov12,651,418 11,956,913 4,055,030 3,749,355 StJoseph (Mo) Ry,Lt August -__ 44,493 40,177
Southern Pacific_a
July 1 to Nov 30
63,496,603 57,772,888 23,238,442 20,228,100
968,178
903,306
Heat & Power Co_ October __ 103,953 91,442
Southern Railway_b_ __Nov 6,044,147 5,426,464 1,885,432 1,746,100 Santiago El Lt& Trac November
367.291
324,404
32,490 31,937
29,026,634 26.739,764 9,404,472 8,960,256 Savannah Electric Co October __ 63,885 59,843
615,170
July 1 to Nov 30
571,257
648,382
610,918
43,501
56,647 Second Avenue (Rec) August -__ 92,272 90,866
206.005
Georgia Sou & Fla_b_Nov 223,374
95,553
83,041
15,199 12,345
__
194,141
254,162 Southern Boulevard_
1,026.352 1,011,516
July 1 to Nov 30
200,317
19,267 17,315
180,894
Augustp68,158 Sou Wisconsin By Co November
335,199 p110,911
Toledo St L & West_a_ _Nov 371,243
203,083
194,262
Staten IsI'd Midland_ August __ 39.220 34,136
1,733,999 1,724,323 p449.225 p416,183 Tampa
July 1 to Nov 30
624,892
564,616
Electric Co__ October __ 65,610 59,328
Nov 8,731,119 7,677,922 3,442,452 2,902,356 Third Avenue
• Union Pacific_a
August __- 324,046 312,272 2,539,720 2,428,675
43,737,121 39,869,383 19,232,417 17,157,193 Tr -City By & Lt Co_ October __ 283,102 260,610 2,573,174 2,342,038
July 1 to Nov 30
145.627
45,891 Twin City Rap Tran_ 2d wk Dec 160,824 144,869 7,792,140 7,422,661
50,175
Virginia & Southw_b___Nov 154,861
728,765
232,366
275,161 Underground Elec By
753,261
July 1 to Nov 30
of London
Three tube lines Wk Dec 21 £14,975 £15,355 £697,135 £698,735
INDUSTRIAL COMPANIES.
Metropolitan Dist_ Wk Dec 21 £13,112 £12,986 £641,089 £608,119
Earnings- -Net Earnings
-Gross
United Tramways_ Wk Dec 21 £5,731 £6,030 £315,433 £328,969
Previous
Current
Previous
Current
London Gen'l Bus _ Wk Dec 21 £60,392 £41,430 £2,637,737 £1,924,831
Year.
Year.
Year.
Year.
Companies.
Union RyCo.of NYC August ___ 240.654 219,883 1.694,521 1,643,281
$
$
$
$
15,107 UnlonRy G&EC0(II1) October _ 394,657 299,154 3,167,194 2,574,556
31,831
16,459
32,798
Nov
Canton Elect
1001,729 9,075,065
Rys
16,175 United RRs of St L. September 1031,600 700,271 6,987,233 8,859,508
32,860
20,913
39,037
Nov
Muncie Elect Lt
of San Fr October..... 756,153
6,511,043
United
398,339
19,845 Westchester Elect
38,096
23,831
406,146
41,508
Rockford Elect Co
August ___ 61,045 60,599
Nov
484,615
August ___ 63,910 57,291
446,333
42,437 Yonkers RR
71,604
45,763
Nov
71,678
Scranton Elect
199,419
196,126
Youngst & Ohio Riv_ October __ 23,266 20,726
161,750
100,587 Youngstown & South November
137,702
Power Co_a_Nov 223,329
Western
13,543 11,767
152,851
134.594
22,556
12,964
25,438
12,779
Nov
Wheeling Elect
consolidated company.
a Net earnings here given are after deducting taxes.
c These figures are for
b Net earnings here given are before deducting taxes.
f Includes not only operating revenue, but also all other receipts.
-The following table
Electric Railway Net Earnings.
I The company now includes the earnings of the Atchison Topeka &
Santa Fe By. Co., io Grande & El Paso RR. Co.. Gulf Colorado & Santa gives the returns of ELECTRIC railway gross and net earnFe Ry. Co., the gouthern Kansas Ry. Co. of Texas, the Pecos & Northern ings
reported this week:
Texas By. Co., The Pecos River RR. Co., The Texas & Gulf, The Gulf
-Gross Earnings- -Net Earnings
& Inter-State Ry. Co. of Texas and The Concho San Saba & Llano Valley
Previous
Current
Current
RR. Co. in both years. For Nov. taxes amounted to $381,286, against
Previous
Year.
Year.
Year.
Year.
$385,217 in 1911; after deducting which, net for Nov. 1912 was $3,729,439,
Roads.
$
$
$
against $3,431,914 last year. Fron July 1 to Nov.30 taxes were $1,927,048
$
in 1912, against $1,790,453 last year.
401,099
395,143
391,558
Traction_Nov 404,581
k After allowing for additional income, operating income for Nov. 1912 Amer Light & Nov 30
3,775,329 3,694,443 3,667,722 3,590,276
Jan 1 to
was $252,743, against $96,753, and from July 1 to Nov. 30 was $1,261,479
93,217
38,020
43,546
91,687
Dul-Super Trac Co_b__Nov
in 1912, against $818,230 last year.
408,330
470,764
890,113 1,035,254
Jan 1 to Nov 30
p For Nov. 1912 miscellaneous charges to income were $2,928, against
249,133
109,739
$16,983 in 1911, and for period from July 1 to Nov. 30 were $53,898 in Louisville Ry_b
107,964
Nov 258,437
1912. against $83,971 last year.
2,860,132 2,760,022 1,218,194 1,169,551
Jan 1 to Nov 30
--676,158
THE CHRONICLE
DEC. 28 1912.1
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
Roads.
$
$
576
63,003
70,715
Monon Vallry Tree_ b- _Nov
434,780
469,831
674,642
776,165
Jan 1 to Nov 30
89,359
93,817
214,562
Nor Ohio Trac & Lt_ a _ _Nov 239,141
2,736,156 2,454,651 1,184,168 1,095,089
Jan 1 to Nov 30
316,340
633,968
352,791
Twin City Rap Tran_b_Nov 700,676
7,485,814 7,141,997 3,689,157 3,611,667
Jan 1 to Nov 30
27,165
56,119
34,528
67,921
Wash Bait & Annap_b_Nov
316,857
636,937
364,080
718,293
Jan 1 to Nov 30
67,069
175,487
73,710
& Light.. _ _ _Nov 194,766
Western Ry
671,526
756,620
2,056,530 1,840,947
Jan 1 to Nov 30
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Interest Charges and Surplus.
-Int., Rentals, &c.- -I3a1. of Net Earns.
Previous
Previous
Current
Current
Year.
Year.
Year.
Year.
Roads.
$
20,617
14,783
22,929
23,238
Duluth-Super Trac Co_ _Nov
224,643
252,442
155,818
246,121
Jan 1 to Nov 30
47,631
66,000
43,739
60,333
Nov
Louisville By
525,468
504,861
713333
644,083
Jan 1 to Nov 30
15,091
24,768
19,920
17,485
Monon Valley Trac_ _ __Nov
253,632
233,507
236.324
181,148
Jan 1 to Nov 30
45,629
41,207
Light & Trac_Nov
52,610
43,730
Nor Ohio
607,969
663,501
520,667
487.120
Jan 1 to Nov 30
168,261
199,217
148,079
Twin City Rap Tram._ _Nov 153,574
Jan 1 to .Nov 30
1,581,366 1,548,871 2,107,791 2,062,796
x5,436
z11,916
Wash Bait & Annan_ __ _Nov
22,114
23.010
x56,914
268,611 x121,206
Jan 1 to Nov 30
248,158
x29,854
x31,544
38,503
Western Rys & Light _ _ _Nov
44,181
423,688 x288,612 x262,079
Jan 1 to Nov 30
491,560
x After allowing for other income received.
ExpresslCompanies.
July 1 to Aug. 31August
1911.
1912.
1911.
1912.
American Express Co.
Gross receipts from opera'n. 3.952,707 3,393,232 7,816,507 6,679,679
1,902,160 1.591,154 3,720,045 3,129,505
Express privileges-Dr
Total operating revenues_ 2,050.547 1,802,077 4,096,462 3,550,173
1,890,584 1,631,006 3,765,255 3,266,046
Total operating expenses.. _
284,127
331.207
171,070
159,962
Net operating revenue_
60,000
62,102
30,000
31,032
One-twelfth annual taxes
141,070
128,930
October
1911.
1912.
$
Canadian North. Exp. Co.51,451
86,460
Gross receipts from opera'n_
19,810
33,602
-Dr
Express privileges
31,641
52,857
Total operating revenues..
16,431
31,031
Total operating expenses
Operating income
Net operating revenue......21,826
443
One-twelfth annual taxes_ _ _
Operating income
Northern Express Co.
Gross receipts from opera'n_
Express privileges-Dr
15,209
214
14,995
21,383
September
1911.
299,433
160,234
277,010
149,406
224,127
269,104
July 1 to Oct. 311911.
1912.
328,997
128,584
183,288
71,402
200,412
115,611
111,886
62,949
84,801
1,772
48,937
599
48,337
83,029
July 1 to Sept. 301911.
1912.
947,986
505,966
837,278
449,535
1743
REVENUES AND EXPENSES (MEXICAN CURRENCY).
1908-09.
1909-10.
1910-11.
Gross Earnings1911-12.
Freight
43,859.607 45,197,748 45,477.881 40,901,478
Passenger
13,548,387 12.657,110 12,234.008 11,274,086
1,979,779
1,954,532
Express
2,070,915 2.066,545
1,603,464
1,816,726
2,013,018
Miscellaneous
1,968,882
Total gross earnings 61,447,791 61,934,421 61,483,147 55.758.807
Expenses
9,704.300 7,483,895
Maintenance of way,&c. 11,340,034 11,161,931
Maint. of equipment.__ 9,687,119 8,788,388 7,766,516 7,158.947
Conduct. transportation 15.435,622 17,141,417 17,106,344 16.343,699
2,187,608 2,151,158 2,227,830
General expenses
1,972,479
Total oper.expenses
38,435,255 39,279,345 36,728,318 33,214,370
Net earnings
23,012,536 22,655,076 24,754,829 22,544,436
290,134
59,252
191,330
Interest, less exchange....
721,362
1,093.761
1,167,132
753,563
Int. and divs. on securs_
937,290
Total net income
24,671,188 23,599,969 25,981,213 23,928,331
Deduct
299,770
410,754
Taxes
413,545
478,607
77,397
67,076
Rent of leased lines
70,046
70,214
22,834
76,239
Op. def. of sub. cos.._ _ _ 834,334
464,421
Pending charges account
operating expenses.. _ _ 1,400,000
2,147.817 2,336,709 2,461,292
Int. on bonded debt, on
equip., &c., notes, and
bills payable
19,403,457 17.946,269 18,562,604 18,466,664
1,153,316
Preferred dividends_(4%)2,306.632(4)2,306,632(3)1.729,974
63,357
141,828
127,894
Reservefund
124,229
24,617,473 23,476,624 23,325,184 22,544,630
Total deductions
1,383,701
2,656,029
53.715
123,345
Balance, surplus
DETAILS OF DEDUCTIONS FOR FISCAL YEAR 1911-12.
S24,671,188 Int. on bonds (Con.)Net income
Mex. Cent. Ry. bonds_ _ -- $138,650
Add
70,000
do equip.& collat. bds.
141,284
Burp. in oper. of T. M. Ry
117,430
do car&loco.rent'l notes
526,500
Mex.Int. pror lien 4Ms_ _
$24,812,472
Total net income
336,520
do cons. M 45
Deduct
$478,607 Interest on notes payable
Taxes
1,100,000
50,213 2-year 4% notes
Rent. Mich.& Pac.leased line
Issued in favor of Lazard
Rent. Coahuila Coal Ry.
204.946
Bros. & Co., London...._
20,000
leased line
15,333
-month 4% notes
847,627 3
Oper. def. Pan-Am. RR
177,594
5-year 6% Pan-Am. notes
Op.def. Vera Cr. to Isth. RR. 127,991
975,000
a1,400,000 1-year 5% notes
Sundry adjustments
124,229
Transferred to reserve fund.._
Interest on bonds, &e.
N. Rys. prior lien 4M s_ _ _ _ 7,632,951 First pref dividend (4%)_ _ _ 2,30(1,632
4,059,333
do gu. gen. 4s
$24,758,757
N. RR. prior lien 4 M s_ _ _ _ 2,070,000 Total deductions
$53,715
Balance, surplus
1,979,200
do 1st cons. 4s
a Sundry adjustments include $100,000 for proportion of additions and
betterments in suspense and $1,300,000 to provide for expenses for repair
b This is 5% of net profits.
and replacement of equipment.
BALANCE SHEET JUNE 30 (MEXICAN CURRENCY).
1910.
1911.
1912.
$
$
$
AssetsRoad, equip., land, concessions, &c..849,492,563 847,011,143 832,396,031
318,150
3,437,595
10,358,236
Construction new lines, &c
21,588,094 21,294,614 17,154,640
Bonds and stocks owned
10,141,064 11,124,722 8,041.506
Material and supplies
871,440
1,169,077
790,720
Agents, conductors and employees....
668.706
423,445
306,595
Traffic balances
2,064,174
1,648,715
2,437,278
Individuals and companies
1,161,184
906,377
689,986
Bills collectible
2,445,114
a4,072,747
Notes receivable
Purchase of subsidy rights of Hidalgo
27,935
27,935
27,935
& N. E RR
214,114
164,036
164,070
Accrued interest on securities owned_
b18,327,023 15,540,210 15,574,974
Cash in banks and on hand
88,546
115,181
169,587
Advance paym'ts-insur. premiums..
678,279
342,833
Interest and discounts in suspense.
Total
918,908.732 905.986,444 878.581.400
Liabilities
149,606.933 149,605,467 149,600,933
Common stock
114,946 First preferred stock
57.662,000 57,662,000 57,660,400
152,336
36,193
41.888
Net operatingrevenue
13,500 Second preferred stock
240.597,633 240,502,886 240,231.373
13,500
4,500
One-twelfth annual taxes
4,500
271,133,830 271,075,080 270,907,280
National Rys. bonds
c95,480,000 c95,480,000 c95,480,000
101,446 National RR bonds
138,836
31,693
37,388
Operating income
Mexican International RR. bonds__ 20,113,000 20,113,000 20,113,000
Mexican Central, National RR. and
Mex.Internat. RR.securs. not held 4,088,495 12,121,295 12,394,695
ANNUAL REPORTS.
1,700,000
1,500,000
Mex.Cent. Ry.equip. and coll. trusts 1,300,000
2,713,208 3,008,000
Mex.Cent. Ry.car & locomotive notes 2,250,443
-The following is an index to all annual Accr. int. & coupons not presented__ 9,019,957 8,396,365 8,359,718
Annual Reports.
1,169,360
1,180,450
1,180,578
on preferred stock
reports of steam railroads, street railways and miscellaneous Dividendsand pay-rolls
2,761,734 3,883,580 3,566,257
Vouchers
778,434
360,572
345,248
Traffic balances
companies which have been published since Nov. 30.
2,962,005
2,694,555 2.567,144
This index, which is given monthly, does not include re- Individuals and companies
48,846.458 32,809,458 3,723,599
Notes payable
25.270
25,270
25,270
Michoacan & Pacific Ry. (special) _ _
ports in to-day's "Chronicle."
63,871
64,906
8.983
Page. Accrued taxes
Page. Industrials-Railroads132,770
116,655
212,772
Reserve for material adjustment.. _ .. _
1538 Canada Car & Foundry Co., Ltd.... _1681 Res.for repairs, washouts,bridges.&c. 5,636,082
Central Vermont Ry
1,000.000
490,623
Cincinnati New On.& Tex.Pac. Ry.1469 Central Colo. Pow.Co., Denver,Co1.1606 Equipment d
tcs
fu
entand rail renewal fund.... _ 4,920.400 4,423,482 4,484,012
11386 ie.
1469 Chicago Breweries Co., Ltd
Cripple Creek Central Ry
205,186
333,079
457,308
fund
1468 Cumberland Teleph. dr Telegr. Co_1610 Profit and loss
Florida East Coast Ry
1,015,237
561,924
e567,052
Georgia Southern & Florida Ry__ _1470 Goodyear Tire& Rub.Co., Akron,01680
1470 Great Western Power Co., N.Y.and
Guantanamo de Western RR
Total
918,908,732 905,986,444 878,581.400
New Orleans Great Northern RR_ _ _1605 San Fran. (preliminary statem't)_1606
1604 Harbison-Walker Refractories Co_ A681
Pere Marquette RR
a Includes Pan-American RR.. $945,005 (after deducting $1,157,579 for
1686
1538 Harrison Bros. & Co., Inc
St. Joseph & Grand Island RR
deficit in operation), and Vera Cruz to Isthmus RR., $3,127,743 (after de1680 Houston (Tex) Oil Co.(balance sheet
South Carolina Western Ry
1682 ducting $127,991 for proporticn of deficit in operation).
1680 Sept. 30, President's letter)
Toledo Peoria & Western Ity
b Includes $7,319,571 cash deposits for payment of principal and interest
1612, 1604 Intercontinental Rubber Co.(ofN.J.)1539 on bonds, &c.
Union Pacific RR
1535 Internat. Steam Pump Co., N. Y___1681
Western Maryland Ry
c Does not include $5,080,000 ($2,510,000 U. S. cur.) bonds deposited
1685 Internat. Text Book Co., Scranton,
White Pass & Yukon Ry., Ltd
mortgage of
1540 with Central Trust Co. as collateral under prior lien 4%%
Pa. (bal. sheet May 31)
Electric Railways
Northern Cal. Power Co., Consol-1540 National Rys. of Mexico.
e After deducting $41,587 adjustments and $7,000 miscellaneous.
Augusta-Aiken Ry.& Elec. Corp _1683 Owens Bottle Machine Co., Toledo.1471
Fairmount Pk. Transp. Co., Phila_1607 Pillsbury-Washburn Flour Mills, Ltd1687 V. 95, p. 1207, 891.
1684 Realty Associates, Brooklyn, N. Y_1539
Lehigh Valley Transit Co
Massachusetts Electric Cos., Boston 1537 Sealshipt Oyster System
British-American Tobacco Co., Ltd. .
1682
St. Joseph (Mo.) Ry., Lt.& Pow.Co.1542 Shannon Copper Co
1625
(Report for Fiscal Year ending Sept. 30 1912.)
Standard Gas & Electric Co., ChiIndustrials
cago (Year ending Nov. 30 1912)_1688
American Brake Shoe & Fdry. Co...I609
The report dated at London on Dec. 9 says:
1605, 1623
United Fruit Co
American Water Works & Guarantee
Authorized, Issued.
Co., Pitts. (official statement of
United States Bobbin & Shuttle Co.
Share Capital£4,500,000 $2,100.000
1539 5% cumulative preference shares of £1 each
Oct. 18)
1537, 1548 (bal. sheet July 31)
6,500,000 6,252,169
B ritish-American Tobacco Co., Ltd.1686 Victor-American Fuel Co., Denver _1540 Ordinary shares of El each
The business of the company continues to make satisfactory progress.
Ferrocarriles Nacionales de Mexico.
Interim dividends have been paid on the ordinary shares of23 % on Mch.31
1912, 10% on June 29 1912 and 6% on Sept. 30 1912, and there is now an
(National Railways of Mexico.)
available balance of £2,159,031 (including 11,168,106 brought forward,
being the amount £1,261,017 per last balance sheet, after deducting there(Report for Fiscal Year ending June 30 1912.)
from £93,000, representing the final dividend of 234% for the year ended
this available balance of £2,1911, paid Dec. 311911).
Below are printed the principal statistics of operations, Sept. 30the directors recommend the Out of
distribution of a final dividend (free
159,031
earnings, charges and balance sheet. The text of the report of income tax) on the ordinary shares of8%,amounting to £500,340, and to
carry forward £1,658.690.
will be given another week.
The figures shown in this report do not include the company's proportion
of the undivided profits of the associated companies, and which they have
TRAFFIC STATISTICS YEAR ENDING JUNE 30.
not thought fit to declare as dividends.
mile; 1 metric ton equals 1.103 tons of 2,000 lbs.
One kilometer equals .62138
Whilst the earnings justify a larger final dividend, the directors prefer to
1911-12.
1910-11.
1910-11.
adopt a conservative policy.
1911-12.
9,869 Tons rev. freight 6,476,877 6,764,369
Avge. kilometers
9,668
INCOME ACCOUNT SEPT. 30 1912.
8,096,302 7,029,039 Tons I kilo_ 2,315,133,655 2437862,850
Passengers
£490,584
$3.53 Net profits after charges.. _ __£1,981,1591Sttrolus
$3.99
Pass. 1 kilo_ _ _757,470,142 699,401,080 Rects. p. tr. kilo.
1,168,106
105,000 Previous surplus
Preferred dividends (5%)
Av.tons p. train,
Receipts per train
1,658,690
284.76
271.02 Ordinary share div., 264%_ 1,385,575 Profit and loss, surplus
all fr't (p.tr.k.)
$2.05
$2.22
kilometer....
Total operating revenues..
Total operating expenses.. _ _
139,198
97,310
127,603
91,409
442,109
289,683
387,742
272,795
1744
THE CHRONICLE
Lxxxxv.
The dividends on the ordinary shares include the
of 2 ki % on Mch. 31, 10% on June 29 and 6% on three interim payments
Sept. 30
final payment of 8% (£500,340) to be made next month,1912, and the
reducing
amount to be carried forward from £2,159,375, as shown in the balance the
sheet
below, to £1,658,690 as given above.
the Mattoon Gas Light & Coke Co. of III. and (b) $290,000
standing issue) of 1st M. 5% bonds and ,$1,999,500 (entire (entire outoutstanding
issue except five qualifying shares) of the stock of the Central
Illinois
Traction Co. This issue of bonds is secured by a first lien
on properties
now producing approximately 53% of the total gross earnings,
and on the
BALANCE SHEET.
balance is subject to the lien of $1,525,500 underlying divisional
bonds.
The avails of these $3,000,000 "first and ref." 5s have
1912.
1911.
1912.
1911.
ment for a portion of the properties acquired, the total been used in payAssets
Liabilities£
£
ties, with the improvements now provided for, having cost of the properReal est. & bldgs- -- 268,2761 487,635 Preferred stock
amounted to 32,900,2,100,000 2,100,000 000 in excess of the
Plant, macIfy, &c__ 238,361j
proceeds of the bonds.
Ordinary stock
6,252,169 3,720,021
Good-will, tradeList of the 69 Communities in which Properties or
Creditors & cr. ha's_ 970,839
Franchises are Owned.
marks, &c
879,140 883,238 Bills payable
[Showing also respectively, pop'n in 1910 and expiration
441,924
date of franchises.
Invest. in assoc. co3_5,422,987 3,353,420 Reserves
138,996 1,595,416 1. Electric Light and Power business ("x" no time specified.)
Materials & supplies 1,086,295 1,991,557 Prem. on
a. Mattoon-Paris Group, in Champaign, Douglas, Edgar, Clark,
Debtors & debit bals.2,638,944 1,959,386 Redempt.ord. shares 224,864
Cole,
of coupons
1,423
Shelby, Cumberland,
and Macon counties, including Mattoon
Cash
1,755,372 450,338 Dividends unpaid__ _
129 449,030
(11.456; 1930 to '62); Paris (7,664; 1923); Newman (1,264; "x"): Oak-Profit and loss
2,159,031 1,261,107
land (1,159; 1962); Tuscola (2.453; 1919); Bethany
Total
12,289,375 9,125,574
Mound (900; 1920); Broadlands (480; 1940); Camargo (859; 1962); Blue
-V. 95, p. 1686, 1609.
(323;
Total
12,289,375 9,125.574
land; Gays (322; 1962); HindSboro (498; 1962); Humboldt 1962)• Fair(356; 1962);
'
Hume (572; 1962); Kansas (945; 1931); Longview
(257;
(449; 1962); Tolono (760; 1918); Westfield (927; 1962); 1940); Metcalf
1962); Charleston (5,884; 1935); Arcola (2,100; 1962); VillaWindsor (987;
Grove (1,828;
1935); Neoga, 1,074;
. Taylorville Group, in 1962).
Christian, Montgomery, Sangamon and Macon
counties,lincuding Taylorville (5,446; 1931); Moweaqua
American Railways, Philadelphia.
(1.513;
-Listed in Phila.Nokomis (1,872; perpetual); Auburn (1,814 1920) Pawnee (1.390; 1917)
The Phila. Stock Exchange has authorized the
Pana (6,055; 1921-'30); Tower Hill (1.040;;1918);;Edinburg (918; 191$)
the total $2,000,000 7% cum. pref. stock when listing of $1,877,900 of
1923)
issued in the form of
Fillmore (499; 1962); Macon (683; 1917).
permanent certificates, with authority to list on and after May 1 1913 the c.
Macomb Group, in Warren, McDonough, Hancock, Schuyler,
remaining $122,100.-V. 95, p. 1206, 1202.
Brown, Scott, Pike and Morgan counties, including Macomb Adams,
(5,774:
1923); Colchester (1,445; 1931); Augusta (1,146; 1931); Mt. Sterling
Atlanta Birmingham & Atlantic RR.
-New Co-Re(1,986; -); Rushville (2,422; perpetual); Camp Point (1,148;
ceiver.
-Judge Pardee in the Federal Court at Atlanta, Ga.,
Griggsville (1,262; 1936); Pittsfield (2,095; 1933); Bushnell (2,619; 1926);
Bluffs (766; 1930); Meredosia (951; 1917); Plymouth (829; 1922); 1915);
on Dec. 24 appointed General Manager E. T. Lamb co-reRoseceiver with H. M. Atkinson, to succeed S. L. Schoonmaker d.ville (882; 1916); Versailles (557: "x")•
Carbondale-Marion Group, in Jackson, Williamson, Franklin, Saline,
of New York, who resigned, the appointment to take effect
Union, Alexander and Pulaski counties, Including Carbondale (5,414
1932); Johnston City (3,248; 1); Marion (7,093; 1928):
Jan. 1.-V. 95, p. 888, 678.
(5,309; 1936): Anna (2,809; 194); Jonesboro (1,169; 1926; Harrisburg
municipalplant leased); Mounds (1.686: 934): Carterville
Baltimore & Ohio RR.
-Merger of Sub. Companies in
(2,771; 1959); Herrin
Pennsylvania.
-Under an agreement dated Sept. 25 1912, e. (6,861; 1925); W. Frankfort (2,111;and Jasper counties,
Other Groups, &c.-(aa) Crawford 1930);
incl. Robinson
filed in the office of the Secretary of State of Pennsylvania on
(3,863; 1931); Oblong (1,482; 1962). (bb) Lawrenceville Group, in Lawrence and Richland counties, incl. Lawrenceville /3,235; 1927); Olney
Nov.30 1912 and effective that date, the following subsidiary
(5,011; 1931); Bridgeport (2,703; 1951). (cc) Jerseyville Group,in Greene
companies have been merged under the name of 'The Baltiand Jersey counties, incl. Jerseyville (4,113; -); Roodhouse
1934); Carrollton (2,323; 1932). (dd) Havana (3,525; 1930), in (2,171;
more & Ohio RR.Co.in Pennsylvania" •
Mason
County; (ee) St. Elmo (1,227; 1917), in Fayette County.
The Pittsburgh & Connelisv. RR.Co. Ohio& Baltimore Short Line Ity.Co.
2. Street Railway Lines in Anna (till 1924), Charleston (till 1930; 1932),;
The Berlin RR. Co.
The Somerset & Cambria RR. Co.
Mattoon (till 1923-1930); interurban line, Cont. III. Traction Co.
The Salisbury RR. Co.
Glenwood RR. Co.
1
Mt. Pleasant & Broad Ford RR. Co. The Fayette County RR. Co.
3. Also Gas in Mattoon (perpetual), Paris (till 1934), Taylorville (till 1936)
The new company will issue securities to take up those now outstanding,
Charleston (till 1936) and Macomb (till 1923); Heating in Mattoon (til
which will be deposited with the trustees of the various mortgages now
1926 to 1960),Paris(t1111961), Roseville (till 1916), Taylorville (till 1936)
•
holding the securities of the old subsidiary lines.
Tuscola (till 1929). Bushnell (till 1932), Charleston (till
-V.95, p. 1402, 1268, 1277.
1930, 1962),
Jerseyville (till 1925); Water Works, in Mounds (till 1934) Robinson (till
Belt Line Railway Corporation, N. Y.
-New Co.
- 1939), Tuscola (till 1929), Carbondale (till 1932), Harrisburg (till 1936),
Application to Issue New Securities.
Johnston City (till 1951), Lawrenceville (till 1927)and Marion (till
-The company, which
1932).
In addition
was incorporated at Albany on Dec. 24, has taken over the quired or is to the plants shown in this statement, the company has actaking steps to
electric
Central Park North & East River RR., which was recently 30 additional towns, locatedacquireand will light and power franchises in
along
be served by its transmission
purchased at foreclosure sale by Edward Cornell (V. 95, p. lines. Now operates in 31 counties situated in Central and Southern Illinois, having
1331, 1402), and who made full payment of the balance of Provisions a combined population of approximately 1,000,000.
of lit & Ref. M.
-Restrictions on Issuing Bonds Additional
the purchase price on Saturday last.
to $3,000,000 Now Sold.
An application has been made to the Public Service Commission for
a. In exchange, $ for $, for
thority to issue $200,000 stock and to sell $2;200,000 1st M. 40-year au- of any properties acquired. mortgage debt existing at time of acquisition
5%
gold bonds at 95 and int. This represents only the actual present outlay,
b. For expenditures made in acquiring properties above amount of mortviz.: the purchase price of the property ($1,673,000) and taxes
, gage debt thereon at time of acquisition, bonds may be issued only to exa total of $2,109,1ol. A hearing will take place on Dec. 30. ($436,151)
Additional tent of 75% of cost thereof.
bonds may be issued later for improvements, including storage battery cars
c. For betterments,
along the river-front lines in place of the present horse-cars. The officers only to the extent of improvements or additions, bonds may be issued
75% of the cost thereof.
are: Pres., Edward Cornell' Vice-Pres., John B. Summerfield; Sec.,
d. After the bonded debt, including all underlying bonds, shall have
Edward C. Kerr (an attorney in Mr. Cornell's office). Geo. W.Linch, who reached $6,000,000,
more bonds can
has been General Manager of the line, will continue as such for the present earnings applicable nointerest charges be issued unless the annual net
to
are 13- times the interest charges,
as Mr. Cornell's agent.
including all bonds proposed to be issued.
e.
the cal.
end
California Railway & Power Co., San Fran.-Incorp.- shall At theto ofcredit year 1918 and each year thereafter the company
place
of a "depreciation reserve fund" a sum equal to
The company was incorporated in Delaware on Dec. 20 with $60,000,000 2% of the par the
value of all bonds which shall have been outstanding under
of auth. cap. stock, per plan approximately as in V. 95, p. 1540.
the mortgage for a period of not less than six months.
Electric
-The Central Illinois Traction Co., whose stock and
Canadian Northern Ontario Ry.-Bonding Power.
-The bonds are Railway. under
deposited
company announces its intention to apply to the Parl. of Can- way between Mattoon and the mortgage, owns an interurban electric railCharleston, Ill., interurban franchises in Paris,
Kansas and Ashmore, Ill., alsa the electric ralway line in Paris, Ill. It
ada for an Act defining and increasing its bonding powers.
Application will also be made for an Act authorizing the sale of a portion Is con,tomplated later to continue the interurban road from Charleston to a
of the constructed right of way of the Carillon & Grenville Ry. Co. between connection at Paris with an interurban lino now operating between Paris
Grenville and Carillon to the Can. Nor. Ont. Ry. Co. the company con- and Indianapolis, via Terre Haute, Ind., thereby giving through service
firming a notarial deed of sale thereof dated July 25 19(1.-V. 95, p. 1402. from Mattoon, Ill., to all interurban points in Indiana, Ohio and Kentucky.
New Power Plant.
-The comnany is now building at Kincaid, in the centre
Canada Southern Ry.-Advance Offering.
-The inter- of the coal-mining district of christian Co., a modern power station, with
national banking syndicate headed by Ladenburg, Thal- Installed generating capacity of 4,000 h.p., to supply the surrounding coal
and ultimately
part of
transmission system.
mann & Co. who purchased the $22,500,000 new 5% mines, properties ownedto becontrolledour general respective communitie.
The
and
serve their
bonds, are making a special advance offeri -g at 106 (yield- without competition and are located in one of the best agricultural section
of the entire Middle West (the corn belt of Illinois) and contiguous to con
ing over 4.68%) of the balance of the issue which is not fields, which not only afford us cheap fuel,
but
a large opportunit
used for the exchange at 1053 by holders of the present for the sale of electric power for the operation of also numerous mines .
the
%
$20,000,000 first and second mortgage bonds.
Earnings of Properties Now Operated by Central Illinois Public Service Co
-V. 95, p. [As recently determined accountants
by
for the year preceding date of audit,!
1607, 1541.
Gross earnings
-$1,249,982 Int. on underlying bonds_
355,798
Net, after taxes
Cape Breton Coal, Iron & Ry. Co., Ltd.
391,687'Int. on "1st & ref." 5s......
150,000
-Listed.
The London Stock Exchange has listed scrip, fully paid, for £251,700
6%
Balance, surplus
$185,889
1st M.gold bonds. See V. 95, p. 213, 817.
For the calendar year 1913 we anticipate gross earnings, $1,427,300.
Central California Traction Co., Stockton, Cal.
- and net earnings, $573,330,not including any business which may be seYear
Gross
Net
Interest Balance, cured from the sale of current to coal mines or to the several municipalities
EndingEarnings. Earnings. and 7'azes. Surplus. for pumping and public lighting purposes other than that being sold to them
at the present time. With
June 30 1912
$302,569
$88,123
$79,889
$8,234 from the general growth such new business in addition to that resulting
Dec. 31 1911
and the
292,276
97,785
88,453
9,332 territory, it is, in my judgment, acquisition of other properties in this
-V.92, p. 955.
probable that after comparatively few
years the gross earnings will be $2,000,000 per annum.
Central Illinois Public Service Co.
The company
[
-Sale of Bonds.
- fully described in is a subsidiary of the Middle West Utilities Co. quite
V. 95, p. 1545. With other properties the company, it
N. W. Halsey & Co. have recently purchased $3,000,000
"first and refunding 5% gold bonds, dated Aug. 1 1912 and is understood, has taken over the plants, &c., of the Marion (Ill.) .1. Lt.,
Water & P. Co.; also the following, formerly owned by the National Light,
due Aug. 1 1952, but red. at 105 on any int. date. Int. Heat & Power Co., which see below: Charleston Illuminating Co., City
Gas
Co.,
F. & A. Par $1,000 c*. Trustee, Continental & Comm. Co. & El. Co. of Paris, Taylorville Gas & Electric 618. Pana Gas & Electric
and Jerseyville Illuminating Co.
-V. 95, p.
GENERAL INVESTMENT NEWS.
Tr. & Savings Bank, Chicago. Outstanding, including prior
liens, $4,525,500.
Central Park North & East River RR., N. Y.
-Suc-
-See Belt Line Ry. Corp. above.
Digest of Letter from Pres. Samuel (mull, Chicago, Ill.. Nov. 30 1912. cessor Co.
Organized in Illinois in 1902. Prior to Aug. 1 1912 did
The stockholders' protective committee, consisting of Anson B.
power and heat business in Mattoon, Ill., an electric-light an electric-light, Geo. F. Morgan and Henry N. Curtis, have brought suit in theMoran,
N. Y.
and power business in Charleston and Kansas, Ill., and operated electric street railways Supreme Court against the men connected with the old Metropolitan SeIn Mattoon and Charleston and an electric interurban railway between these curities Co.,including Thomas F. Ryan, August Belmont, Paul D. Cravath ,
two allies. On and since that date has aCquired additional public service John D. Crimmins, P. A. B. Widener, Theodore P. Shonts and, others,
properties. A complete list of these properties, including the franchises to recover the estimated value of the road. It is alleged
the
owned, Is shown below. [Compare allied Illinois Northern Utilities Co., road was leased to the Metropolitan St. Ry. it was agreedthat when new
that the
V. 94, p. 1383; V. 95, p. 1123, 1331, 1405.1
company should refund or retire the outstanding 51,200,000 mortgage when
it fell duo, instead of which the mortgage was kept alive and recently foreOutstanding Capitalization.
closed, thus wiping out the stock.
Common stock authorized and outstanding
-V. 05, p. 1402, 1331.
$3,500,000
Pref. stock, 6% cumulative, authorized and outstanding
2,500,000
Chicago City & Connecting Rys.-Bonds.-White,
First and refunding 5s, 1952 (this issue), outstanding
3,000,000 Weld & Co., the
Underlying bonds, on 13 of the properties(incl.$456,990 owned) 1,525,500
First Trust & Savings Bank and the MerCent. Ill. Pub. Serv. Co.6% 10
-year gold debs., auth. and out
Of the outstanding underlying bonds, the company has in its1,000,000 chants' Loan & Trust Co. of Chicago have bought $1,500,000
treasury Chicago City Rys.
$456,990, which it will, as it may require additional funds, exchange
1st 5s, 1927, and $200,000 Calumet &
for its
own bonds, par for par. In addition, it had in its treasury Sept. 3 1912 South Chicago 5s, 1927,
and will probably offer the same
$437,192 in cash, free from current indebtedness.
-V. 95, p. 1683.
The "first and refunding" 5% bonds are a direct lien on all fixed property in January.
now owned or hereafter aermired and are further secured by the deposit
Chicago City Ry.-$1,500,000 5s Sold.
with the trustee of (a) $76,000 (entire auth. Issue) of the 1st M. bonds of
See Chicago City & Connecting Rys. above.
-V. 95, p. 1683.
DEC. 28 1912.1
THE CHRONICLE
1745
interurban road during the first year of operation will earn a satisfactory-surplus over interest charges, and that the income of the system, after
deducting all other charges, will then be equivalent to over five times bond
interest. It is expected that the interurban railway will be completed in
the autumn of 1913. The pref. stock is receiving 6% per annum.
Beaumont is the centre of the Texas rice and lumber belt and its population has increased from 3.296 in 189010 9,427 In 1900. to 20,640 in 1910,
The Wisconsin and Nebraska
in
issue. In 1912 $10,000,000 of equipment trusts were au- and now (est.) about 25,000. Assessed valuation, $2,513,470 the 1900;
to approve the
Gulf
held in
the two ports on
thorized, of which only $6,000,000 have been issued and are nowrecently $15,565,903 in 1911. Port Arthur is one of and it ranks twelfth among
west of New Orleans having a deep channel,
subject to sale as required. The new equipment
the
for partly from the proceeds of the 1912 equipment the ports of the United States in the value of foreign exports. Population
treasury'
ordered will be paid
Assessed valuation,
trust and partly from the proposed 1913 issue. The $6,000,000 of the 1912 900 in 1900; 7,663 in 1910: now (est.) about 11.200.
in the
two great railroad
Issue held in the treasury were issued against equipment delivered 1912 $855,641 in 1900; $4,715.000 in 1911. It is served by lines, while, as the
systems and seven foreign and three coastwise steamship
now remains a balance of $4,000,000 of the
current year, so that there
by a
Issue to be applied towards the equipment recently ordered. The company largest refined oil shipping point in the South,it is servedin oil fleet of over
certificates
refineries in
does not intend to offer any part of the 1912 equipment trust conditions. 60 privately owned oil carriers. Estimated investment
Jefferson County, about $25,000,000.—V. 95, p. 1210.
for more favorable market
for sale at present, but is waiting
—V. 95, p. 1541, 1402.
Erie & Central New York RR.—Lease.—The stock-
Chicago & North Western Ry.—New Equipment Trusts
Authorized.—The Michigan RR. Commissioners have authorized an issue of $10,000,000 equipment trust certificates of 1913.
RR.commissions have also been authorized
Chicago ,Peoria & St. Louis Ry.—Sale Approved.—
on
Judge Humphrey in the U. S. District Court at Springfield, Ill.,
corn.
Dec. 20 approved the sale of the road on Nov. 18 to the reorganization sucIll., has been elected a director to
P. Barton Warren of Springfield,
ceed W. W. Wentz of Indianapolis, who resigned.—V. 95, p. 1402, 968.
Co., McAlester, Okla.—
Choctaw Railway & .tg.sold, Russell Palmer of Mobile. Ala.,
A controlling interest having been
has been elected President. Other officers unchanged.—V. 88, p. 1169.
Dayton (0.) & Troy Electric Ry.—Application.—
T company,it is reported, has applied to the Ohio P.S.Commission for
5% cumulative pref. stock,to pay outstanding
bi
rIty to issue $300,000
--V. 94, p. 123.
for improvements already made.
ela,ware Lackawanna & Western RR.—Remaining
12,000,000 Stock Offered at Par.—The directors on Thursday
voted .to issue the $12,000,000 new stock which was authorOe'd by the stockholders in Feb. last for improving and constructing Pennsylvania lines wgst of Scranton.
„Stockholders of record Jan: 4'are, given the right to subscribe for 40% of their holdings at par, payable 50% on or
before Feb. 15 1913, and the,remainder on the call of the
Treasurer at notvless than 15'days' notice.
holders will vote Jan. 13 on leasing the road to the Delaware
Lackawanna & Western RR.
Grand Trunk Ry. of Canada.—Indictment.—
See New York New Haven & Hartford RR. below.—V.95, p. 1683, 1607.
Great Northern Ry.—Stock Ex-rights.—
Although the stock record books closed Dec. 14 for the determination of'
the holders entitled to subscribe for the new stock, the N. Y. Stock Exchange
ruled that the stock should sell ex-rights beginning Dec. 21, as the official
circular offered the subscription right to holders of record as of the latter
date.—V. 95, p. 1607, 1541.
Guayaquil & Quito Ry.—Bond Interest.—
The council of foreign bondholders in London on Dec. 10 received a
telegram from the Banco Comercial y Agricola of Guayaquil announcing the
remittance of £12,475 for the service of the company's bonds, being, it is
stated, sufficient to provide for the payment of the Jan. 1913 interest and
-yearly coupon on the
amortization on the prior lien bonds and also of a half
5% railway bonds, leaving in hand a balance of about Z6,000.—V. 95.
p. 818, 544.
Receipts are to be issued for amounts.so paid on account to bear interest at 6% per annum,payble Jan. land July 1, the stock to be issued upon
full payment therefor.—V. 95, p. 1683, 480.
Halifax (N. S.) Electric Tramway Co.—Rumor.--
Canadian papers say that at the next session of the Nova Scotia Legislature, which opens in February, a bill will probably be introduced to amalgamate the company with the Nova Scotia Power Co., in which the same
capitalists are interested. The Nova Scotia Power Co. proposes to generate hydro-electricity on the Gaspereaux River in Kings County, about
70 miles from Halifax. The Tramway Co.'s franchise expires in 1914, but
by the terms of its charter, it is stated, it has a perpetual right to operate
on the streets on which it is running at this time.—V. 95, p. 1331.
Detroit Toledo & Ironton Ry.—Sale Feb. 5.—The sevHarrisburg (Pa.) Railways.—Successor Company.—
eral foreclosure sales are advertised for Feb. 5 at Springfield,
This company was incorporated in Pa. on Nov. 29 with
Ohio, as follows:
Upset Price. nominal ($10,000) capital stock, as successor of the Central
Property Included.
Mortgage Foreclosed.
Pennsylvania Traction system under the proposed reorgani1 Va.m. Ohio Sou. Div. 1901____223.85 in. (Lima to Rockwood and 2 branches)- - - -$1,550,000a
zation plan. The Treasurer is George M.Whitney of Harrisdo
do do
do
do
(1)
12 noon G en.Lien.& Div. I.1905.
burg and the incorporators are nearly all connected with the
(2)216.72 (173.72 m. owned
do
do
do
(see below) & 43 m.leased) 1,650,000b law offices of Congressman M.E. Olmsted of that city.
(3)Nos. 1 & 2 as one parcel_ 3,200,000
do
do
do
Cense!. mortgage 1905_ _Other property (see below)_ • None fixed
Interborough-Metropolitan Co.—Notes Again Extended.
$2,039,520),
rt Includes $139,940 for principal and $25.518 for int. to Sept. 11812 on The coll. trust 6% notes (now amounting to
aceount of receiver's certificates if established as a prior claim. b Includes which were extended in 1908, 1910, 1911 and 1912 (the last
$105,059. with int.. if held to be a prior lien. For said sums the
nsilarly
time until Jan. 11913), have been again extended for 6 mosi
'chaser may give a bond; pending decision as to same.
Under the consol. mortgage there is to be sold all property and t) July 1 1913, when it is expected they will be paid off.—
mileage not included in the Ohio Sou. Div. and "Gen. Lien and Div." V. 95, p. 747.
mortgage, subject only to purchase money liens thereon"; and 100 shares
of stock of Toledo Southern Ry. and $101,400 pref. stock of Ann Arbor RR.
Interstate Public Service Co.—Lease.—This new compledged under the consol. mortage. The Ohio Sou. Div. mtge., under pany (V.95, p.680),a subsidiary of the Middle West Utilities
4% bonds are outstanding, covers, the adv. states, the
which $4,495,000
line of road from Lima to Rockwood, Lawrence Co., with 2 branches Co. (V. 95, p. 1545), has taken over and is operating the
(Jeffersonville to Sedalia and also to Kingman). The "Gen. Lien and Div." Indianapolis Columbus & Southern Traction Co. "Chicago.
mtge., in addition to being a 2d lien on the Ohio Sou. Div., covers the line
Delray (Detroit) to Lima 137.6 miles ("Northern Division"), Dean branch, Economist" Dec. 14 said:
The actual lease of the traction company is for 999 years from Jan. 1.
36.12 miles("Southern Division"),of leased lines 43 m.;total,216.72 miles.
The equipment to be sold is subject to the following equipment agree- The railway is capitalized at $1,000,000, of which $910,000 is issued; authorments, the amount shown in each case being the amount due after Dec. 1 ized mortgage,$1,000,000; issued,$782,000 of5% gold bonds due Feb. 1923.
1912; (1) Am. Loc. Co. dated 1909, due periodically to Sept. 15 1913 on The road operates 62 miles of track, most of which is on a private right of'
dated 1910, duo periodically to way. In its connection with the Louisville & Northern By.& Lighting Co.
8 locomotives, $27.911; (2) Am. Loco.
conboth of
Co.,
Jan. 14 1916 on 12 locomotives, $77,400; (3) Crawford Loco. & Car Jo., and the Louisville & Southern Indiana Traction Co. line will which arefrom
be made
'
for repairing 400 cars,$56,655;(4) trolled by the Insull interests, practically a through
accepted Nov.11911,due semi-monthly,
Cent. Loco. & Car. W.,accepted Nov.9 1912, for repairing 2,000 cars, due Indianapolis to Louisville. The Inter-State Company does not operate
of
semi-monthly, 45e. daily per car until full payment, $500.000; (5) Norf. & any of the subsidiaries of the Middle West Company in Kentucky, allsee
W. Ry., accepted Nov; 19 1912, payable in receiver's certifs. for repairing those properties being combined in the Kentucky Utilities Co. (which
5 locomotives, about $15,000; (6) Cent. Loc. & Car W.. accepted Nov. 9 below).—V; 95, p. 680.
1912, due semi-monthly, 45c. per day per car until paid, for 500, secondIrwin-Herminie (Pa.) Traction Co.—Bonds.—The Dohand coal cars, ;$157,395.—V. 95, p. 1607, 1273
Eastern Texas Electric Co., Beaumont and Port Arthur, Tex.—Bonds Sold to Build Electric Line Between Beaumont and Port Arthur.—Stone & Webster have sold the $800,000 1st M.collateral trust 5% gold bonds, dated Nov. 1 1912
and due Nov. 1 1942, offered by them at 94 and int. The
proceeds will provide for the construction and equipment of
the interurban railway. between Beaumont and Port Arthur,
principally on private right of way, and for terminals in both
cities. A circular shows:
Interest M.& N. at State St.. Trust Co., trustee, Boston. Par 011,000
and $500; 45,000 or any multiple thereof. Callable as a whole or in part
for sinking fund at 105 and int. on any int. date. Annual sinking fund 1%
of bonds outstanding, beginning Nov. 11917.
These bonds are secured by a lien on the properties of the present underlying companies through the deposit of their entire capital stocks and bonded
indebtedness now outstanding or hereafter to be issued, except only $44,000 of bonds on the Port Arthur property redeemable in 1915, cash for the
retirement of which has been deposited in escrow.
Organization.—Company owns the mortgage bonds and capital stocks of
the comanies doing the entire electric lighting and power business in Beaup
mont, Tex., and the entire electric lighting, power, ice manufacturing and
refrigerating business in Port Arthur, Tex., and also of the company now
constructing an interurban electric railway between Beaumont and Port
Arthur. The generating plants at both Beaumont and Port Arthur are
modern and advantageously located; present combined capacity 4,400 h.p.
Ice plant at Port Arthur, incl, addition under construction, capacity 75 tons
of ice per day. The important franchises in Beaumont expire in 1963 and in
Pt. Arthur in 1943; satisfactory in terms,free from burdensome restrictions.
Capitalization—
Issued. In Treas, Now Out
Auth,
Pref. stock,6% cum. par $100..$2,000,000 $1,450.000 $50,000 $1,400,000
Common stock in $160 shares.._ 2,000,000 1,400,000
1,400,000
1st M. collateral trust 5% gold
duo Nov. 1 1942
(see below) 1,200,000 400.000
800,000
The amount of bonds authorized under the mortgage is not limited, but
further,bonds can be issued only under carefully guarded restrictions, nota(a) For only 75% of the actual cost, either of the securities of additional
bly:'
operating companies or of permanent improvements, extensions and additions, evidenced by stocks, bonds or notes of such companies; (b) and only
when the net earnings are 1% times the interest charge, including the bonds
proposed to be issued; (c) all securities of the present subsidiary companies
issued from time to time shall be deposited with the trustee.
Gross Earnings, showing Growth of Company's Business (1912 partly est.).
1907.
1905.
1908.
1910.
1909.
1906.
1911. '12(est.)
:
$138,913 $167,227 $182,511 $202,147 $220,269 $251,331 $284,588 $313,300
Combined Beaumont and Port Arthur Properties for 1912 (partially est.).
Gross earnings
$313.3001Int. on bonds now offered__ $40,000
Net, after taxes
150,550 Balance on above basis_ _ _ _ 110.550
Now earnings are 334 times interest charges on these bonds without
taking into account any income to be derived from the operation of the
interurban electric railway now under construction. We believe that this
minion Trust Co., Pittsburgh, the mortgage trustee, is
placing at 99 and int. $250,000 1st M. 6% sinking fund
gold bonds, tax-free in Pennsylvania. Dated Nov. 1 1912
and due Nov. 1 1937. A circular shows in substance:
Redeemable, all or part, at 105 and int., at option of company, except
such as shall be paid $6,000 each year, at par and int., from the sinking
fund, selected numerically from the lowest number then outstanding upward. Int. M. & N. at office of trustee. Par $1,000 and $500.
Data from Letter Written by President C. H. Bolton.
Incorp. in Pa. Aug. 2 1910. Began operation July 1 1911. Now operates 5.2 miles of standard electric interurban railway, serving Irwin, Hahntown, Linden Cross, Chambers, Milton, Mars Hill and Herminie, and, with
the completion of additional 6.2 miles from the proceeds of bonds, will
operate to Keystone, Evanston, Madison Station, Lady Smith, Wheyl.
Yukon, &c.; population estimated at 35.000. Express and freight service
in addition to passenger is provided for. In the district are thriving
manufacturing and coal-mining districts; also, in southwestern part of Westmoreland County, heretofore inaccessible, many well-to-do farmers.
At Irwin connects with West Penn Traction Co. and Pennsylvania RR.
Capitalization.—Capitalstock(no pref.)subscribed and paid in in cash at
par, auth. and issued, $125,000; Bonds: 1st M.6s, auth., $500,000, issued
[now offered] $250,000. No additional bonds can be issued to exceed
$30,000 per mile of railway actually completed and in operation. Equity
above present issue estimated at $221,000.
For the 11 mos. ending May 31 the gross earnings were $32,155, about
ono-third what it should be when the mileage-is doubled; and the operating
expenses were $17,403, leaving net earnings, 314,752, or on a basis sufficient
to pay interest charges on this issue. The gross earnings for Oct. 1912'
were $3,586; Oct. 1911, $2,988. Company's estimate for completed line,
11.4 miles, as now contemplated: Gross, $94.000; net, $64,000; interest
charge on this $250,000, 815,000; balance, surplus, 849,000.
-lb. T raiLs—in the boroughs 110-1b.Built on private right of way, has 70
8x8x8.5 ties, &c.; stone and slag ballast; suitable rolling stock and new car
barn facilities. Grading, fills, cuts and all road construction on basis of
steam railroads; average grade entire line, less than 3%.
-cent fares; three fares on the addiRate charged on present line three 5
tional mileage will make 30 cents for the trip from Irwin to Yukon, against
a railroad fare of 58 cents with only one train daily each way. Owned and
operated by capitalists of the Pittsburgh and Irwin district.
Kentucky Utilities Co.—Bonds, &c.—This company,
ncorporated in Ky., Aug. 26, 1912,with $2,000,000 of auth.
cap. stock as one of the operating subsidiaries of the Middle
West Utilities Co. (see V.95,p. 1546),has filed a mortgage to
the Ill. Tr. & Savings Bank of Chicago,as trustee, to secure
$5,000,000 bonds. The "Electrical World" on Dec. 14 said:
The mortgage covers the electric light, power and water plants at Mount
Sterling, Versailles, Shelbyville, Somerset, Winchester and Elizabethtown.
The company plans to secure franchises fcr electric service in Pleasureville.
Eminence and New Castle, and, it is understeed, will erect (a) a milliondollar power plant at Winchester, from which it will serve a wide territory
1746
THE CHRONICLE
in that section of the State; also (b) interurban railways between these and
other points.
[Among the properties acquired are the electric-light and power plants
of the Winchester IV., Lt. & Ice Co., United Water Light & Traction Co.
of Somerset (V. 94, p. 984), Shelbyville Water & Lt. Co. (V. 95, p. 485),
Elizabethtown El. Lt. Co., Mt. Sterling Water Light & Ice Co. (V. 87,
p. 291), all of Kentucky.]
Lxxxxv.
National Railways of Mexico.
-See "Annual Reports."
Shares Not Pledged.
-The "Diario Official," the official
organ of the Mexican Government, in answer to current
rumors, says:
The Executive has not and could not have hypothecated the Government's stock in the National Railways, as the decree empowering it to
negotiate the loan of $20,000,000 contained a clause expressly prohibiting
it to furnish any guaranty involving the revenues, properties or securities
of the nation. The Government's shares in the National Railways are
deposited in the national treasury.
The firm of Speyer & Co. paid over in full in cash the amount of the loan.
In consequence, there is no danger of the Government losing control of the
This
understand,secures the $1,100,000 bonds which, along National Railways, nor could it pledge its shares in the company, for the
we
with $500.000 2d M.bonds, the shareholders were asked to auth. on July 9. reason that the law of Dec. 26 1906 authorizing the railway merger expressly
The directors in Aug. 1912 concluded an agreement with G. W.Farrell & declares that the shares or bonds assuring to the Government a voting
majority in the general meeting of the stockholders cannot be alienated or in
Co.for the purchase of the entire issue of $1,100,000 5% 1st
Dominion Govt. ha.s granted a subsidy of $6400 per mile, orM. bonds. The any manner encumbered without the explicit authorization of the Federal
a total grant of
-V.95, p. 1207, 891.
approximately $340,000. The charter provides for the construction of an Congress.
electric railway from Port Dover on Lake Erie through Simcoe, Waterford,
Nevada County Narrow-Gauge RR.
-Bonds Called.
13rantford and Paris, to the town of Galt, 53 miles. [Maximum grade 1%,2
Nine
($9.000) numbered 5, 21, 33, 84, 146, 159, 179,
steel bridges 450 ft. and 438 ft., respectively.) Connections will be made at 210 and 1st M. 7% bonds on
248,for payment
Jan. 2.-V.91,p. 1254.
Galt with the Canadian Pacific Ry. The towns through which the line
will pass
-Galt, Paris, Brantford, Simcoe, Waterford to Port Dover
New York New Haven & Hartford RR.
-Indictment.
voted to take 2d M. bonds [total issue $500,000, underwritten -have
to the
extent of $275,000 by directors.). The directors comprise a number of the The Federal Grand Jury in this city on Dec. 23, after an
prominent manufacturers in that district and consist of John Muir [Pres.], investigation extending over 3 weeks, handed down an inHenry Cockshutt,Lloyd Harris and John A.Sanderson,of Brantford; Richard dictment
against President Charles S. Mellen and E. J.
Thompson, Gen. Mgr. of Penmans' Ltd.; F. H. Deacon, of Toronto.
Martin Todd, Gen. Mgr. of the Galt Preston & Hespeler Ry.•, William P. Chamberlin and Alfred W. Smithers, Pres. and Chairman of
Kellett, Gen. Mgr.of Lake Erie & Northern, and G. W.Farrell of Montreal the board, respectively,
of the Grand Trunk Ry., on the
Lloyd Harris is Secretary-Treasurer.]
Lake Erie & Northern (Electric) Ry.-Bonds, &c.
This company, incorp. in May 1911 by Special Act of the
Parliament of Canada, and having its office at Brantford,
Ont., has filed a first mtge. to the Montreal Trust Co., as
trustee, to secure an issue of 5% 1st M.30-year gold bonds.
mortgage,
charge of "combination and conspiracy to restrain commerce
Lehigh Valley Transit Co., Allentown, Pa.
-Bonds, among the States and with a foreign nation," in violation of
&c.
-Edward B. Smith & Co., Phila. and N. Y., are placing the Sherman Anti-Trust Law.
'ref. and imp.M. 50-yr. 5s' at 91M and int.,to yield 532%. The indictment is the result of the agitation by the State authorities of
Rhode Island and Massachusetts, who charge that the cause
See adv. on another page.
of the Grand Trunk Ry. to complete the construction of of the failure
its
Condensed Data from Letter of Pres. & Gen. Man. R. P. Stevens,
Dec. 14 1912.
Issued Capitalization.
Stock, common, $3,000,000; pref., $5,000,000; total
$8,000,000
First M.4s and 5s, $4,957,000, and consol. M.4s, $354,000_ _ _ _ 5,311,000
Refunding and impr. 5s, including $233,000 in the treasury_ __ - 4,112,000
Two per cent was paid on the pref. stock during the past 12 months.
Direct physical connection is made with important electric railways,
including a line to Easton and a new through route to the Delaware Water
Gap and Stroudsburg, in part of which this company has an interest. The
reconstruction of the Montgomery Traction Co.'s line was completed and
through cars were put in operation Dec. 12 1912, cutting down the time
between Allentown and Philadelphia (City Hall) from 434 hours to 234
hours. The average time of steam road express trains between these points
is about two hours. The fare via the electric line will be $1 less than
the steam road for a round trip ticket, and a substantial increase in traffic
seems assured to the company from the new service. Recently the company organized subsidiaries and obtained franchises for the towns of Richlandtown and Trumbauersville, and purchased all the outstanding stock
of a competeing electric light and power company of South Bethlehem.
The Transit Conpany has now no electric lighting competition in any of
the localtites served by its light and railway subsidiary companies.
Earningsfor Past Fiscal years ending Nov. 30 (1911-12 Subject to Adjust.).
1911-12.
1910-11.
1909-10. 1908-09. 1907-08.
Passenger receipts_ _$1,242,007 $1,141,138 $1,042,969 $956,888 $910,574
Sur. after fixed chgs- $374,442 $294,676 $210,200 $101,689 $56,602
From the surplus for the year 1911-12 there are to be deducted the dividends paid on the pref. stock and appropriations for depreciation reserve
and various adjustments. The company should profit greatly as a result
of the noteworthy improvements that have been in progress recently,
and particularly by the operation of the new high-speed service to Philadelphia, which is expected to reduce the time of travel from the centre of
Allentown to the centre of Philadelphia about one-half. See also V. 95,
m 1684, 750.
extension to Providence and to build the one to Boston, and also proposed
to establish a steamship service between Providence and New York, is the agreement which has been under negotiation for some time between
companies for joint trackage and through routing, but which has the two
not yet
been consummated, the status being apparently that the proposition made by President Mellen is now under consideration by the directors
of the Grand Trunk Ry. and has not so far as known been acted upon by
the directors of the New Haven road, and being, in any event, therefore,
subject to change. It is claimed that the failure to construct the Grand
Trunk lines would result in the elimination of proposed competition between the two companies, not only in New England but in the West and
in Canada, as the New Haven road has connections with such distant points
as Montreal, Chicago, Detroit, Milwaukee, St. Paul and Minneapolis,
which are also reached by the Grand Trunk. Both Mr. Mellen and
Chamberlin have several times stated that the proposed arrangementMr.
between the two companies has no relation to the discontinuance of work on the
Providence line, which, it is stated, may again be taken up when the necessary financial arrangements can be advantageously made. The penalty
upon conviction for the offense charged is one year in prison, a fine of
$5,000 or both.
President Mellen in a statement says that unless the Inter-State Commerce Commission authorizes the holding of the steamboat properties of
the company, as it is authorized by law to do, every steamboat line now
controlled will be sold, probably within the coming year. By the proposed
transaction the company will divest itself absolutely of every piece of floating stock not used directly as an adjunct to the railroad business. No
transfer, it is stated, will be made to a holding company owned or controlled
by.the system.
Report of Federal Commissioner of Corporations
The fourth installment of the report of the Commissioner of Corporations on water routes and traffic was presented on Dec. 23 to President
Taft by Commissioner-Conant, who claims that in practically all of the
coast waters of the country railroads and steamship companies controlled
by them (and a few steamship companies not so controlled) dominate water
transportation, and have destroyed competition, thus making necessary
Little Rock (Ark.) Ry. & Electric Co.
further regulation of joint rail and water traffic. The railroads controlling
-Purchase.
-O.C. Kavanaugh of Little Rock, Ark., and associates, identified with this the greatest tonnage (with the approximate amount) are given as:
company, have obtained control of the Garland Power & Development Co., N. Y. N. H. & Hartford.._200,0001N. Y. Central & Hud. Thy _ _ _50,000
which controls water powers on Ouachita River, 45 miles from Little Rock, Union Pac.-Southern Pac__*150,000 Central of Georgia
40,000
and contemplate hydro-electric developments with a capacity of 28,000 h.p., Penna. (incl. 8,500 barges)__ 77,000
* Excluding tonnage engaged in foreign trade.
at a cost of $3,000,000, including transmission lines. The first plant will
distribute electricity within 100
-mile radius of Little Rock, furnishing elecNew Director.
-Samuel Rea, President of the Pennsyltricity to rice growers in Lonoke, Prairie and Arkansas counties, and to
bauxite del,eloping company in Saline County. New officers of Garland vania, has been elected a director to succeed former Presicorporation: Pres., C. C. Kavanaugh; V.-Pres. and Treas. W. M. dent James McCrea of
that company.
-V.95, p. 1684,1608.
Kavanaugh; Sec., 1). H. Cantrell, all of Little Rock, Ark.
-V.93% p. 1725.
Middle West Utilities Co.
-Sub-Co. Bonds, &c.
-
N. Y. Westchester & Boston (Elec.) Ry.-Conso/.-
The P. S. Commission will hold public a hearing at Albany on Dec. 30
on the joint petition of the company and the Westchester Northern RR., to
consolidate under the name of the former.
The Commission on Dec. 20 authorized the comnany to change the route
of its main line from North St. in New Rochelle to a point in the village of
Missouri Pacific Ry.-Sale of Equipment Obligations.
Port Chester on the boundary line between New York and Connecticut,
See American Refrigerator Transit Co. under "Industrials" below.
- which is also the northern terminus. The company, as a condition for the
V. 95,p. 1472, 1331.
granting of the order, has agreed to file a schedule of rates over its road
stations
Morris County (N. J.) Traction Co.
-Reduction of Capi- between River, or from New Rochelle to Port Chester and termiuns at
Harlem
connection with subway at
are said to
tal Stock.-Pres. Henry R. Rea, in a circular dated Nov. 25, be approximately 15% less than those proposed180th St., which on hearings
by the company
held lost July, and are at a lower rate per mile than that approved by the
says in substance:
Inter-State Commerce Commission in the New Jersey commutation rate
Physical assets as reported by Chief Inspector of N. J. P. U. Commission
- cases.
-V. 95, p. 1208, 1040.
Total cost of road and equipt. up to Mch. 1 1912 (incl. $1,015,124 expended 1910 to 1912)
Pawcatuck Valley Street Ry., Westerly, R. I.-Sale.
$2,589,201
Further amounts allowed (excl. $8,792 for reconstruction):
The property was sold at auction on Dec. 18 to Harry M. Verrill of PortConstruction material and equipt., $42,611; stocks and
land, Me.,for $10,797, subject to the mtge. for $50,000.-V. 95, p. 1473.
bonds of Hopatcong Shore RR. Co., $45,000; extensions to
-Merger of Sub. Cos.
Philadelphia Co., Pittsburgh.
Hopatcong Shore
$18,004; extensions to Asylum
See Duquesne Light Co. under" ndustrials" below.
branch, $7.435; right of way Northern Land Co. paid for
-V.95, p. 1473,891.
RR.,
I
by note, $4,900; paid Tennis & Co.. $37,082
155,032
Portland (Ore.) Ry., Lt. & Pow. Co.
-Listed in London.
Expenditures since Mch. 1 1912 (since above-mentioned report
The London Stock Exch, has listed the $16,000,000 5% "first and ref.
was made) for construction and equipt., all work in Borough
mtge. 30
-year sinking fund gold bonds (series "A")
.-V. 94, p. 631, 1186;
of Madison and Chatham and city of Summit having been
completed
156.071 V. 95, p. 1473, 1542.
Also paid out in cash for interest during construction
748,370
Quebec & Lake St. John Ry.-Listed in London.
The London Stock Exchange has listed £755,837 4% 1st M. debenture
Total
$3,648,674 stcck. See V.94, p. 1186, 1317.-V.
95, p. 298.
The traction company has issued $3,000,000 of bonds, which, by law,
Railroad Construction, &c.
were issued at 80, producing $2,400,000. In addition to this sum there was
-New Mileage, &c., in
advanced by the underwriters the sum of $943,086, leaving invested in the 1912.
-The "Railway Age Gazette" of N. Y. summarizes
value of the property the difference between the $3,648,674 and the amount
realized from the bonds and cash advanced, $3,343,086, or $305,588. The in part as follows the statistics regarding railroad developstock issued and outstanding is represented by this sum. Under the law ment in 1912, which will appear in its issue of Dec.
28:
no stock can be issued except at par. There is issued and outstanding
One has to go back for 15 years, namely to 1897, to find a year in which
$3,000,000 par value of stock, which is represented by $305,588 in cash.
there was in the United States as small railroad mileage
underwriters are willing to accept bonds at 80 secured by a general and one has to go back 6 years, namely a 1906, to find a built as in 1912,
The
to
mortgage for the sum of $913,086 advanced. This the Public Utility Board large a number of locomotives and as large a number of year in which as
freight cars were
has approved upon condition that the 30,000 shares of stock now issued and ordered.
outstanding,representing $3,000,000, be surrendered, and in their place be
Notwithstanding the fact that 1911 was considered a very
issued 3,000 shares of stock at par, which will represent the $300,000 in- year for railroad-building, there were 3,066 miles of new firstunsatisfactory
track built in
vested in the traction lines unsecured. Your board of directors deems it 1911, while in
advisable to have the present stock surrendered, and in lieu thereof issue a built in 1912 1912 there were only 2,997 miles built. The 2,997 miles
The
certificate for one share for each ten shares now issued and outstanding. North Dakota were built in 41 States. of firstlargest mileage was bunt in
in which State 347
track were built, with Texas
This does not reduce the value of the shareholders' interest in the property, second, in which 336 miles were miles
built.
as all the stock will be reduced in like proportion.
First Track
1911.
No.of Cos.
1912. No.of Cos.
If the $3,000,000 of stock is not surrendered and the $300,000 of new stock United StatesBuilt in 1912146
2,997.08
3,066.93
161
issued in lieu thereof, the Public Utilities Commission will not approve of Canada
19
2,232.10
1,898.59
20
the bond issue, and in that event, in the opinion of your board, the under- Mexico
8
212.18
4
351.00
writers would, as their only alternative, force a foreclosure of the mortgage,
The totals for cars and locomotives ordered and built during the year
thereby canceling all of the stock.
are as below:
The depositories are: The Safe Deposit & Trust Co. of Pittsburgh; Har-Ordered
-- -Built
risburg Nat. Bank, Harrisburg, and the Nat. Iron Bank, Morristown. A
ion.
1911.
1912.
1911.
large majority of the stockholders have assented to this plan, and,inasmuch Freight cars
226,195 133,117 148,357
70,931
as all of the stock must be surrendered, prompt co-operation is requested. Passenger cars
2,623
3,623
2,822
4,246
Compare V. 95, p. 680.-V. 95, p. 680.
Locomotives
4,424
2,850
4,403
3,530
See Central Illinois Public Service Co., also Inter-State Public Service
Co. and Kentucky Utilities Co. above (and Illinois Northern Utilities Co.
In V.94, p. 1383: V.95, p. 1123, 1331). Compare also V.95, p. 1446, 1545.
DEC. 28 1912.]
THE CHRONICLE
Of the total freight cars built, 66,520 were reported of steel or steel underframe and 63,330 were not specified.
Twelve railroads with a total mileage of 3,762 miles and a total funded
debt of $106,964,854 went into the hands of receivers, notably the Pere
Marquette, the Denver Northwestern & Pacific (the Moffat road) and the
Kansas City Mexico & Orient. No important roads were sold under
foreclosure in 1912. There were 12 unimportant roads sold, with a total
mileage of 661 and a total funded debt of $7,995,300, with $17,925,690
-V.94, p. 71.
stock outstanding.
1747
is a resident of New Jersey and the defendant a California corporation. The
agreement under which it is alleged suit was brought in 1909 was made in
1904. Under California laws an action on a contract must be brought
within 2 years, and this suit was brought too late.
-V.94, p. 913.
Wheeling & Lake rrie RR.
-Receiver's Ctfs. Authorized.
-Judge Day in the U. S. District Court at Cleveland, 0.
on Dec. 27 authorized Receiver Duncan to issue $2,425,000
in receiver's certificates to purchase 1,300 freight cars and 20
Saint John & Quebec Ry.-Listed in London.
locomotives and to repair bridges and docks.
-V. 95, p.
The London Stock Exchange has listed £873,285 1st M.4% debenture
1609, 1474.
stock. See V. 94, p. 1450; V. 95, p. 545.
Winona Railway & Light Co.
Shreveport (La.) Traction Co.
-Merger.
-New Mortgage.
-This
See Lacrosse Water Power Co. under "Industrials" below.
-V.95, p. 546.
company filed on Oct. 11 a general mtge. to the Hibernia
Bank & Trust Co. of New Orleans, as trustee, to secure an
issue of $1,000,000 of 5% 25-yr. gold bonds, dated Oct. 1
INDUSTRIAL, GAS AND MISCELLANEOUS.
1912. Amount out, $350,000.
Par $1,000. Int. A. & 0. at home office or N. Y. agency. Principal
Alabama Coal, Iron, Land & Colonization Co., Ltd.
redeemable, all or any part, at 105 on or after Oct. 11916. Retirement by
annual installments will begin Oct. 1 1917. Of tho unissued bonds, $150,000 are reserved to retire $150,000 1st M.5s of 1903, due 1923 (which
will be retired $5,000 .yriy. beginning in 1917) and $500,000 for 80% of
cost of impts. and additions. Capital stock auth., $600,000; outstanding,
$200,000. W. F. Dillon is Pres.-V. 90, p. 1491.
-Government Suit.
Southern Pacific Co.
-The Government on Dec. 20 brought suit in the U. S. District Court at
Los Angeles, Cal., to recover 45,726 acres in the Coalinga
district, which are held on United States grants.
In Dec. 1910 a suit, which is still pending, was brought to recover 6,100
acres of oil-bearing lands in Kern County (V. 91, p. 1770). The Government contends that of 440,000 acres of land on the main line of the Southern
Pacific RR. in California, these 45,726 acres are mineral-bearing and
should revert to the public domain. The land is under lease to the subsidiary Kern Trading & Oil Co. The defendants include the Southern
Pacific Co., the Southern Pacific RR. Co., the Kern Trading & Oil Co., the
Associated 011 Co.,the Southern Pacific Land Co.,the St. Paul Consolidated
Oil Co., the Zier Oil Co., the Coalinga Oil & Gas Co. the Guthrie Oil Co.,
the Confidence 011 Co., the Associated Pipe Line Co., the Section 7 Oil Co.,
'
the Central Trust Co. of New York and 14 others. Further suits, it is said,
will be brought to recover additional lands.
-V.95, p. 1542,681.
The London Stock Exchange has listed 184,608 shares cf 4s. each, fully
paid, Nos. 1 to 105,490 and 120,883 to 2C0,000.
Alabama Consol. Coal & Iron Co.
-Committee.
--
F. C. Boyce of Townsend Scott & Son has resigned from the stockholders'
protective committee, since not fully approving the plan of reorganization
in V. 95. p. 1685.
Adrian Gas Co.
-Sold--Bonds Called.
-
The Lenawee County Gas & Electric Co. (which see below) has called
the [$131,000] 1st consol. 5s of the Adrian Gas Co., dated April 1908, and
will pay the same on Jan. 1 at the Detroit Tr. Co. Holders who desire
may exchange the same on favorable terms for the 53. % bonds of the new
company at First Nat. Bank of Detroit.
Algoma Steel Corporation, Ltd.
-Listed in London.
The London Stock Exch. has listed /1.130,000 "first and ref. M. 5%
50 year sinking fund gold bonds.
-V. 95, p. 421.
American Brake Shoe & Foundry Co.
-Listed.
-The
New York Stock Exchange has authorized to be listed on
notice of payment in full the $1,000,000 additional cumulative 7% pref. and $1,000,000 common stock, which were reThird Avenue Ry., N. Y.-Protest.-Pres. Whitridge on cently offered for subscription to shareholders, making the
Dec.26 made a formal protest to the State Board of Tax Com- total amounts listed $5,000,000 pref. and $4,600,000 corn.
Capital Stock on Properties to Be Acquired with this New Stock.
missioners against the tentative assessments for 1913 placed
Capital Stock ofPlantsAcreage. Capacity.
upon special franchises of the roads belonging to the system. St. Louis Car Wheel Co.(V. 81, p.
Mr. Whitridge asserts that, although the Court of Appeals in a te3t case
over the taxes of 1901 cut the assessment practically in half and laid down
clear rules for future assessments, the assessment for this year, in utter disregard of the rules therein laid down, aggregates about $20,000,000, substantially the same as 13 years ago. It is claimed that with the electrification of the elevated roads and the operation of the subways street railroad franchises in this city have become much less valuable. The taxes
up to 1910 were settled generally on the basis of the test case, but the action
of the State board makes it necessary to begin a separate set of actions for
each of the last 3 years.
-V. 95, p. 1609, 1274.
-Time Extended to Jan. 1
Toledo Railways & Light Co.
-The reorganization committee,
Deposit of Maturing Bonds.
Chairman, has extended to Jan. 1 the time for
J. R. Nutt,
making deposits under the plan.
Blair & Co., 24 Broad St., will at the request of the committee, receive deposits of the 5% consol. 1st M. bonds of
the Toledo Traction Co., ex-coupon for interest maturing
Jan. 11913,and will issue certificates of deposit against same.
Letter of Chairman J. R. Nutt to Blair bz Co., Dec. 21 1912.
The plan of Nov. 1 1912, the success of which is now practically assured,
provides for the acquisition by the new company, at par and interest, of
the 5% consol. 1st M. gold bonds of the Toledo Traction Co. maturing,
as extended with interest at 6% per annum, on Jan. 1 next. As said bonds
are payable at your office, the committee requests that you call for their
deposit with your firm, in order to enable a prompt delivery thereof upon
the completion of the reorganization and payment therefor. If the reorganization is not sufficiently advanced to take up the bones promptly on
Jan. 1 next, the company will arrange for the paymentof the interest then
duo thereon.
You will therefore kindly request depositing bondholders to detach and
retain the coupons due Jan. 1 1913.-V. 95, p. 1609, 1542, 1333, 1040.
Underground Electric Railways Co. of London, Ltd.
The London Stock Exchange has listed a further 12,000 shares of capital
stock, .e10 each; 14,568 "A" ordinary shares of Is. each and r80,293 6%
first cumulative income debenture stock and £15,300 6% income bonds.
See V. 95, P. 1542, 1609.
Union Ry., Gas & Electric Co. of Springfield, Ill.
Judge Blakey in the Circuit Court has dismissed the suit brought to
prevent the merger with the Public Utilities Co. of Evansville,,Ind., of the
Evansville Gas & Electric Light Co. and the Evansville & Southern Indiana
Traction Co., on the ground that the consolidation was in violation of the
anti-trust laws of Indiana and in restraint of trade.
-V. 95, p. 1040.
Virginia (Minn.) Electric Power & Water Co.
-City to
Purchase.
-See "Virginia (Minn." in "State and City" department.
-V. 95, p. 1478.
-Earnings.
-The receivers report:
Wabash RR.
Results of Operation July 1 to Oct. 311912.
Earnings
-Freight, $7,689,200; passenger, $2,771,829; mails,
$240,453; express, $325,871; miscellaneous, $330,467; total_ _$11,357,820
Gperating expenses-Maintenance of way and structures, $1,.461,489; maintenance of equipment, $1,889,966; traffic expenses, $336,703; transportation expenses, $4,123,720;
general expenses, $247,304; taxes accrued, $286,622
8,345,804
p. 36, 730)
St. Louis, Mo.
5 acres 150 tons
Plant and assets of
Decatur Car Wheel Co
Savannah, Ga.
10 acres
85 tons
do
do
do
Birmingham, Ala.
9 acres 200 tons
Atlanta Car Wheel & Mfg. Co
Atlanta, Ga.
10 acres
75 tons
"The said three properties were acquired at prices slightly under the appraised values placed upon them by the American Appraisals Co. and Gunn
Richards & Co. The balance, if any, received from the proceeds of the
sale of the present stock issue will be used as additional working capital.
Each of the said three corporations manufactures common cast-iron wheels
and in addition the St. Louis Car Wheel Co. and the Decatur Car Wheel
Co. turn out common gray iron castings." V. 95, p. 1609, 1474.
American Coal Co.
-New Director.
John H.Parrott has been elected a director to fill a vacancy.-V.92,p.598.
American Refrigerator Transit Co.
-Notes Sold.
The First Nat. Bank of Chicago bond department has recently placed
at par and int. $480,000 5% equipment gold notes, dated Dec. 2 1912 and
duo $24,000 s. a. beginning June 1 1913 and ending Dec. 1 1922. Par
$1,000. Int. J. & D. A direct obligation of the company issued in connection with the purchase of 500 new 30
-ton capacity steel underframe beef
cars costing $573,630 of which $93,630, paid in cash. Title vested in First
Trust & Savings Bk., Chic., trustee, until last note is paid. Company reports average annual surplus for past 10 years of about $200,000; for a
number of years past all the surplus earnings have been invested in new cars,
total earnings so invested to Dec. 31 1911, $1,871,079. Company owned on
Aug. 31 1912 2,983 refrigerator cars carried at a valuation of about $3,175,778; bonded debt is only $1,066,000 equipment notes due serially from six
months to 10 years, and secured by 1,000 of its cars.
Refrigerator cars being usually handled on fast freight trains must be
kept in perfect running order; estimated life therefore 8 to 10 years longer
than for ordinary freight car. A large part of the traffic handled by this
company's cars consists of regular shipments of dairy and packing-house
products. The business offered largely exceeds the capacity of the equipment and these 500 new cars will handle the increased business. Compare
V. 92, p. 883, '958.
American Shipbuilding Co., Cleveland.
-Decision.
Judge Phillips in the Common Pleas Court at Cleveland,in the application of a holder of one share of stock to examine the company's books,
holds that the company may attack the good faith of the petitioner. The
Court says: "If a stockholder's right to examine books is unlimited, a
shareholder or officer of a rival concern might step in and use the privilege
to wreck a concern." The company desires to show that the stock was purchased solely to gain access to the company's books and obtain evidence in
several suits against the company in which he is interested.
Bonds of Western Dry Dock dc Shipbuilding Co.
See that controlled company below.
-V.95, p. 1543, 1400.
American Tobacco Co.
-Suit Dismissed.
Judge Mayer, in the U. S. District Court in this city on Dec. 20, on
application of the company, instructed the jury to return a verdict in its
favor in the suit brought against it by E. Locker & Co., tobacco jobbers of
Brooklyn,for treble ($300,000) damages on the ground that the company,
in its efforts to stifle competition through the instrumentality of the Metropolitan Tobacco Co. as its exclusive jobbing agent in this city, impaired
the complainant's business. The case. the Court said, turned on a question
of law and not of fact.
-V.95. p. 1405, 362.
Amoskeag Manufacturing Co.
-New President.Theophilus Parsons, who is Treasurer of the Lyman Mills and director
of many financial insttutions in Boston, has been elected President to
succeed C. W. Amory, who retired on account of illness.
-V.95, p. 892.
Operating income
$3,012,016
Add
-rentals collected, $56,861; operating Hannila Bridge,
Appalachian Power Co., Richmond, Va.-Earnings.$153,249; West Side Belt receiver's certificates, $35,171;
Jackson & Curtis, Boston and N. Y., who are offering at 99
$9,590; dividend Chicago & West. Ind.
interest and discount,
stock, $15,000; premium on receiver's certificates, $2,500;
and int. a part of the first block of $500,000 convertible 2-yr.
total
272,371 6% coupon notes dated Nov. 20 1912 ($1,000,000 auth.,
Total not income
$3,284,387 see V. 95, p. 1405), report:
Deduct
-Rent of track, bridge, &c.,$495,449; hire of equipment,
Estimated Earnings for Year 1913 (Covering Interest on $5,450,000 5% Bonds
$358,485; operating dining car dept., $13,855; additions and
and $500,000 6% Notes.
betterments, $107,198; discount on receiver's certificates,
$750,000 I Int. on bonds and notes_ _ _ _$302,500
Gross earnings
$18,750; total
$993,737 Net, after taxes
511,000 I Surplus
208,500
Interest on bonds, equip. obligations ans receiver's certfs., proThis estimate "is based on the earnings of the utilities now owned and
portion accruing July 1 to Oct. 31
1,287,460 existing contracts for the sale of power, and contracts now under negotiation, which together will absorb approximately 60% of the present developBalance, surplus
$1,003,190
-The above statement does not include interest on Wabash RR. ment. The company completed its original plan, instituted about 18
Note.
-V.95, p. 1405. 112.
1st ref% and ext. mtge. bonds, Wabash RR.4%% gold notes, Wheeling & months ago, at practically the estimates."
Lake Erie matter and installment of the equipment obligations.
-V. 95,
Blackstone Valley Gas & Electric Co., It. I.
-Mtge.
-1209.
1). 1404,
This company, formed in R. I. on April 23 1912 by consolidation of the
Washington Baltimore & An: ••" h (Electric) RR.
- Pawtucket El. Co., Woonsocket El. Machine & Power Co. and Woonsocket
A dividend of 4%% has been declared o.i
,460,000 6% non-cum. Gas Co., and controlling through ownership of entire $1,000,000 comprof., payable Dec. 31 to holders of record Dec. 24, makilg, with. the 1
mon stock and $10,000 of the $1,000,000 5% cum. pref. stock the Pawpaid Oct. 1 6% for the year 1912. See "Earnings Dept. -V.95, P.
tucket Gas Co. of N.
in turn owns all the
819, tucket Gas Co. of R. J.[which some time since a $750,000 stock of Paw'751.
I.], made
"first and general mtge."
to the Slater Trust Co. of Pawtucket, as trustee, to secure not over $5,000,Western Pacific Ry.-Suit Dismissed.
000 5% gold bonds dated July 1 1912. Amount outstanding, or presently
The suit brought by Charles E. W. Smith for $1,244,000 for commissions to be: $1,701,000. Maturity Jan. 1 1939, but redeemable on any semifor assisting in marketing the $50,000,000 1st M. bonds was dismissed annual interest day, all or part, at $110. Annual sinking fund, 1% on
by the Appellate Division of the Supreme Court on Dec. 20. The plaintiff Jan. 1 on all bonds out. Int. J. & J. at office of trustee. Par $1,000.
1748
[VoL. Lxxxxv.
THE CHRONICLE
Direct Prior Liens Remaining Out.
Pawtucket El. Co. Woonsocket El. Mach, & Power Co
First mortgage
5% $474,000 43/i % $200,000 ($40,000 in sk. fd.)
Consolidated mtge
5% 176,000 43 % 300,000 ($14,000 in sink. fd.
& $60,000 in treasury.)
The consolidated company has not sold any of the new bonds, those
outstanding having been exchanged for the bonds of the predecessor company. The unissued bonds ($3,299,000) are reserved for additions at 80%,
or can be used at the discretion of the board to retire any underlying securities or securities of any controlled company, but no particular issues
are specified as so to be retired. The Pawtucket Gas Co. of N. J. (V. 93,
p. 276) has had outstanding $1,400,000 first collateral 4s, due May 1939
but callable at 110 on any int. date. The new mortgage covers all property now owned or hereafter acquired.
Capital Stock in $100 Shares (Total Authorized by Charter $8,000,000).
Auth. by Shareh's. Now Issuable.
Common
$1,875,000
$2,000,000
Pref.(p. & d.)6% cum., red. all or any at 115_ 1,100,000
1,044,200
President, Frederick P. Royce; Sec., William T. Crawford; Treas..
Henry B. Sawyer.
-V. 95, p. 1544, 1475.
Carolina Terminal Co., Charleston, S. C.
-Guaranteed
Bonds.
-Spencer Trask & Co., N. Y., Alb., Bost. & Chic.,
are placing at 99 and int. the 1st M.5% 25-year sinking fund
gold bonds, guaranteed, principal and interest, by Clyde
Steamship Co. by endorsement on each bond.
Authorized, $1,000,000; present issue, $700,000. Dated Nov. 1 1912,
due Nov. 1 1937. Int. M. & N. in New York. Par $1,000. Red. at
105 and int. on any int. date. Sinking fund $20,000 per ann. commencing
with Nov. 1 1914 for purchase and cancellation of the bonds at not to exe
'
ceed 105 and int. Trustee, Bankers Trust Co. N. Y.
Digest of Statement by Pres. Henry R. Mallory, New York, Dec. 6.
Security.
-Authorized issue, $1,000,000; issued forthwith, $700,000. A
1st M.on the entire property located at Charleston, S. C., and leased to the
Clyde SS. Co. for 99 years, in consideration of which the latter guarantees,
among other things, to pay the principal and interest of the 1st M. 5%
bonds, the annual sinking fund, taxes, insurance and maintenance. [Company incorp in Me. on Dec. 16 1911 with $100,000 stock.]
To provide needed terminal facilities at Charleston for the freight and
passenger traffic of the Clyde SS. Co., the Carolina Terminal Co. is erecting
three additional modern piers 425 ft. long with a bulkhead of 75 ft., total
500 ft., No. 1, 112 ft. wide, with docking facilities on one side and four
tracks on the other; No. 2 and No. 3, 275 ft. wide and built as a unit, with
docking facilities on either side and 8 tracks in the centre.
Earnings.
-The net earnings of the terminal company are substantially
in excess of the annual bond interest and sinking fund requirements on the
entire auth. issue of $1,000,000 1st M. 5% bonds. For the three years
ended Dec. 31 1911 the earnings of the Clyde SS. Co., after deducting its
own fixed charges, sinking fund and depreciation, have averaged more than
8 times the annual bond interest and sinking fund requirements on said
entire authorized issue of $1,000,000.
The company, through its direct connection with the Charleston Fast
Freight Line, embracing Clyde SS. Co., Southern Ry. Co., Georgia RR.,
Atlanta & West Point RR. Co., Western Ry. of Ala. and Nash. Chatt. &
St. Louis Ry., is the gateway via Charleston to and from Now York for
the States of South Carolina, Georgia, Alabama and Tennessee, and also
for traffic originating on the eastern seaboard and destined to St. Louis and
Kansas City, Little Rock and points west of the Mississippi River.
-This company has been operating to and from the Port
Clyde SS. Co.
of Charleston for over 25 years, and now operates 6 steamers each way per
week between Charleston and New York and Boston. The company owns
a fleet of 19 steamers and operates 8 distinct routes,viz.: N.Y.Charleston
& Jacksonville, Boston Charleston & Jacksonville, N. Y. & Brunswick,
N. Y. Wilmington & Georgetown, N. Y. & Phila. Phila. & Norfolk, St.
Johns River, New York and San Domingo. Two ships are being built,
'
one, the Lenape, with displacement of about 6,000 tons, for the N. Y.
Charleston & Jacksonville Line, will be completed in December, and the
other ship-not yet named-for the St. Johns River Line. The latter
will be completed in February next. Both of these ships are being built
and paid for out of earnings.
Total Tonnage of Port of Charleston, Showing an Increase of 23% in 1911
over Average of 1908 to 1910.
1910.
1908.
1911.
1909.
2,638,232
1,833,472
2,065,147
2,693,456
The bank deposits of Charleston on Sept. 1912 aggregated $19,945,000,
four previous years of over 21%.
being an increase over the average for the
-V. 95, p. 1610.
most important of these communities total in population about 25,000.
The franchises in the various cities and towns covered have been recently
extended, in almost every instance for 30 years from 1912. Other acquisitions contemplated.
. The main central power plant, costing about $100,000, will be located at
the junction of Sugar Creek and the Iroquois River, one mile north of
Watseka, two 500-k. w. steam turbines to be immediately installed and an
additional 500-k. w. turbine to be added the second year. Good Illinois
coal can be obtained here at $1 25 per ton, delivered.
Annual Earnings 1911-12 (10 Properties Sept. 30 Year, 3 June 30)
-Estimate
for First Year of Consolidation.
Estimate.
1911-12.
Gross earnings
$98,336
$142,850
Net earnings (after operating expenses)
43,606
75,670
Managed and controlled by the L. E. Myers Co., Chicago. Among
the properties built and managed (or formerly managed) by this concern
are: The Marquette County. Gas & El. Co., Ishpeming and Negaunee,
Mich. (V. 94, p. 279, 351); Topeka Edison Co.(V. 92, p. 730); Topeka
Railway Co.(V. 90, p. 915, 978); Green Bay Gas & El. Co.(V. 86, p. 172;
V. 94, p. 633); Green Bay Traction Co.(V. 92, p. 1705; V. 94, p. 630); Canton-Akron Ry., Ohio; Canton-Massillon Ry., Ohio, and Canton-New Philadelphia Ry. Ohio. In the majority of these cases the Myers Co. are or
have been the principal owners and operators. [The three trolley companies
last-named are now part of the system of the Northern Ohio Traction &
Light Co.; the Green Bay properties are now held by the Wisconsin Securities Co.. and the control of the Topeka properties has been acquired by
the McKinley interests.
-Ed.]
(The) Cleveland-Akron Bag Co., Cleveland.
-Si'
The company has filed notice here of an increase in its capital stock to
$3,000,000. Of the now stock, $500,000 is 33 1-3% dividend, payable to
Jan. 1 1913 to common stockholders of record Dec. 21 1912; $500,000 is
offered at par ($100) to shareholders of record Dec. 21 for cash to retire
present ($500.000 7%) pref. stock. As soon as the preferred is canceled,
the capital will be reduced $500,000
-from $3,000,000, to $2,500,000 (as of
Jan. 1 1913), all common. No mortgage or funded debt. Common stock
is receiving quarterly dividends of 1%%. G. E. Kappler, Cleveland, is
Sec. See V. 95, p. 752. 51.
Computing-Tabulating Recording Co.
-Bonds Called.
All of the outstanding ($50,000) 1st M.and collateral 6% sinking fund gold
bonds of the International Time Recording Co. have been drawn for
redemption at 105 and int. on Jan. 5 at Guardian Trust Co., N. Y.
V. 95, p. 1210, 969.
Consol. Cities Lt., Power & Trac. Co., N. Y.
-Listed.
The London Stock Exchange has listed fully-paid scrip for $4,000,000
first lien 5% gold bonds. See V. 95, p. 679. .
Creamery Package Mfg. Co., Beatrice, Neb.-Earns.Nov. 30
Year1911-12
1910-11
-V.95, p. 820.
Net
Earnings.
$252,736
302,298
Preferred
Common
Balance,
Dividends (6%). Dividends (8%). Surplus.
abt.$240,000
$1,858
abt.$10,878
61,248
$241,050-
Cuban-American Sugar Co.
-Earnings.
-
Total
Net
Sept. 30.
Depre'n, Int. on Pref.Divs. Balance,
YearIncome.
Income.
&c.
Bds. &c. (7%). Sur. or Def.
1911-12_ __$17,242,191 $2,390,721 $644,449 $877,385 $552,566 sur$316,321
1910-11_ 15,397,645 1,542,825 561,563 707,785 524,587 def251,110
-V. 95, p. 1475.
Des Moines (Ia.) Gas Co.
-Application Denied.
The U. S. Supreme Court on Monday denied the application of the company for an order restraining the city from putting into effect the ordinance
fixing the price of gas at 90 cents pending the decision of the appeal in the
suit brought to test its validity.
-V. 95, p. 546, 463.
Des Moines (Ia.) Water Co.
-Condemnation Board.
See "Des Moines" in "State and City" Dept.
-V.94, p. 914.
-Merger of DeDuquesne Light Co., Pittsburgh, Pa.
-Notice was filed at Harrispendencies of Philadelphia Co.
burg on Dec. 18 of an increase in the capital stock of this company (incorp. in Sept. 1903) to $25,000,000, preparatory to
merger of companies controlled by the Philadelphia Co. of
Pittsburgh. Pres. M. B. Starring of N.Y. says in substance:
All of the electric light and power properties of the Philadelphia Co. in
Pittsburgh will be merged into the Duquesne Light Co., which I now own.
The stock of the various companies will be exchanged for the stock of the
new company, and the bonds of these companies will be retired with the
exception of those that are not subject to call. Among the bonds to be
,
The submission of this report has been unavoidably delayed pending retired forthwith are all of the $1,085,000 bonds issued by the Duquesne
certain negotiations for the re-arrangement of the capitalization, which has Light Co. under its mortgage of 1907. After the consolidation is comnow been satisfactorily completed through certain interests acquiring large pleted the property will be turned over and controlled by the Phila. Co.
The principal properties merged or to be merged are: Monongahela Light
holdings of the original issue of common stock at moderato figures. This
stock has been turned in to the company at cost price, all holders of pref. Co., Southern Heat, Light & Power Co., Oakmont & Verona Light, Heat
shares also agreeing to have the same retired and converted into common. & Power Co., Allegheny County Light Co., Ohio Valley Electric Co. and
-V. 94, p. 564.
This plan has enabled the company to reduce its share capital (recently Pennsylvania Light & Power Co. (which see below).
$908,000 7% pref. and $653,400 common) to $1,177,500, all of one class
Eastern Canada Power & Pulp Co., Murray Bay, Que.
(common stock), the bond issue remaining as before,$595,600. [On Dec. 11
Default occurred Sept. 1 1912 on the coupons then due on the $1,500,000
a certificate was filed with the Canadian Secretary of State, decreasing
-year 6s, dated Mar. 1 1910, and on Dec. 18 a press dispatch from
the auth. capital stock from $3,000,000 to $1,500,000 by the cancellation 1st M.20
Montreal stated that the Superior Court had ordered the company placed
-Ed.]
of the $1,500,000.
Profits for the period have been satisfactory, but expenses have been some- in liquidation. The creditors, bondholders and shareholders were to meet
what increased, owing to the acquisition of the London Machine & Tool Dec. 27 at Murray Bay to appoint a permanent liquidator, the Montreal
Co., and the necessary interest payments thereon, while this additional plant Trust Co. acting in this capacity in the meantime.
Capital stock, $1,500,000 (par $100), increased from $500,000 in Dec.
was not on a revenue-producing basis until some time after its acquisition.
Our net profit amounted to $105,056; deduct bond int., &c., $40,534; bal., 1909, when, under the Canadian Companies Act, the name, previously
available for dividend, &c., $64,522. Business conditions have materially Murray Bay Lumber & Pulp Co., Ltd., was changed as above. On
hydraulic power doimproved,and on Nov.30 1912 our sales showed an increase over the corre- Mar. 1 1912 Pres. Rodolphe Forget reported that the capacity of 120 tons
sponding period of last year of 50%. Compare V.93. p. 1020; V.91, p. 278. velopment had been completed, the pulp mill, with a
daily, was about completed, and work had started on the saw-mill
-Partly Esti- and cutting mill so that the entire plant was expected to be in operation
Central & South American Telegraph Co.
at an early day.
-For 3 months and year ending Dec. 31:
mated Earnings.
Directors: Sir Rodolphe Forget, Pres.; Chas. W.Tooke, Syracuse, ViceDividends.
Bal., Sur. Total Sur. Pres.; Hon. N. Perodeau. L. G. Morin (Sec.), Edward Pope, M. P. Stod3 Mos.- Total Inc. Net Income.
$392,393
$243,893 (14%)$143,565 $100,328 $3,046,064 dard, Syracuse, and II. G. Matthews, Quebec.
1912
294,250 (1% %)143,565 150,685 2,677,654
1911
447,500
-25% Stock Div.Year
Electrical Securities Corporation.
$1,605,393 $1,006,111
(6%)$574,260 $431,851 $3,046,064
1912
Tho stockholders on Dec. 20 authorized an increase in the common stock
999,300
1,638,500
(6%)574,260 425,040 2,677,654 from $2,000,000 to $2,500,000. The directors have declared a dividend
1911
President Scrymser says that in anticipation of increased traffic on the of 25% on the common stock, which is all held by the General Electric Co.,
opening of the Panama Canal and to facilitate the transmission of through payable Dec. 31.-V. 95, p. 682.
traffic and provide for the growing local traffic, the company has contracted
-Official Statement.
General Baking Co., New York.
for a third cable of ample capacity to be laid between Panama and Santa
Elena, Ecuador. This cable, it is expected, will be in operation by May 31 Touching the reduction in the quarterly dividend on the
next.
-V. 95, p. 1275, 819.
last
announced
-Stock Reduced, &c.Canada Machinery Corp., Ltd.
Pres. Geo. D. Forbes in his report to the shareholders dated
at Galt, Nov. 30 1912, says:
week, an aupref. stock from 1%% to 1%,
Central Illinois Utilities Co., Chicago.-Merger.- thorized statement says:
Bonds.-Farson, Son & Co. are placing at par and int.
Net earnings for the 11 months ended Nov. 30, after charging off all inequivalent to the full
$400,000 1st. M.6% gold bonds dated Oct. 1 1912 and due terevt and liberal depreciation, amounted to $508,903,In view, however, of
on the preferred stock and 47 on the common.
in annual installments on Oct. 1 from 1916 to 1932, incl. 7% fact that the company has made heavy expenditures, which will amount
the
additions and improvements, the
(respectively 5 of $5,000, 5 of ,000, 5 of $13,000 and the to approximately $1,000,000, for time to conserve the company's directors have deemed it wise at this
cash relast of $270,000). Prin. and int. (A. & 0.) payable at Cont. sources and temporarily defer any greater distribution to its pref. stock-V.95, P. 1686, 752.
& Comm. Tr. & Say. Bank, Chicago, trustee. Bonds sub- holders.
-The New York Stock
-Listed.
ject to call at 103 and int. on any int. date on 60 days' noGeneral Chemical Co.
tice. Par $500 and $1,000. A circular reports:
Exchange has authorized to be listed on and after ,Tan. 2
Capitalization.-Capital stock auth., $2,500,000; issued, $400,000. $1,250,000 additional 6% cumulative pref. stock and on
Bonds auth., $2,500,000; issued. $400,000. Additional bonds may be issued to acquire new properties or to pay for new construction only as the and after Feb. 3 1913 of $855,900 additional common stock,
past earnings are shown to provide amply for the interest requirements of offered to stockholders of record Mch. 1 1912 at par.
all bonds outstanding and to be issued.
Earnings.
-For 10 months ending Oct. 311912:
Organized (in 111. Dec. 6 1911) to take over and serve from one central
station the properties and electric light and power business in the following
cities and towns in Livingston, Ford. Iroquois and McLean counties, in
the heart of the Illinois agricultural district, viz.:Fairbury, Forest, Chatsworth, Piper City, Gilman, Onarga, Watseka, Milford, Paxton, Saybrook,
Gibson City, Arrowsmith and Colfax; and is extending its business into the
following towns: Elliott, Melvin, Roberts, Thawville, Ridgeville, Woodland, Crescent City, Leonard, La Hogue and Rankin. The larger and
$562,500
Net profits
$2,205,050 I Common dividends
Deduct-Fire ins. reserve_
50,0001 Chgd. off plant & inv. acc't.. 271,687
Preferred dividends
935.722
385,150 Balance, surplus
p. 1334, 296.
Total surplus Oct. 311912, $5,398,729.-'!. 95,
-Subsidiary Declares Stock Div.
General Electric Co.
-V. 95, p.11611,1892.
See Electrical Securities Corporation above.
DEC. 281919.1
THE CHRONICLE
-New Stock-Rights.
Hartford (Conn.) Elec. Light Co.
The stockholders will vote on Jan. 8 on increasing the capital stock from
$3,000,000 to $3,600,000. It is proposed to offer the new stock to present
stockholders pro rata to the extent of 20% of their holdings, to be paid for
In two installments, one on Feb. 4 and the second on Aug. 4 1913. The
-V.90, p. 1616.
issue will be handled through Richter & Co.
1749
Kellogg Toasted Corn Flakes Co., Battle Creek, Mich.
-Government Suit.
-
The Government on Dec. 26 brought a suit in the U. S. District Court
for the Eastern District of Michigan, Southern Division, at Detroit, to
enjoin the carrying out of the plan of sale under which the company exacts
an agreement from jobbers and retailers to whom its breakfast food is sold
not to
for violation
-year 6% feituresell at less than a specified price, the penaltyis alleged, thebeing forIndiana Gas Light Co.-Notes, &c.-The 3
of future selling rights. In recent months, it
company
lien secured gold notes offered in the "Chronicle" last has taken advantage of the so-called "patent monopoly decision" of the
first
the case of
by Elston, Clifford & Co., Chicago, are described in a Supreme Court of the United States [rendered in March last inin which its
week
the A. B. Dick Co., V. 94, p. 735--Ed.1 to laatent the carton
circular substantially as follows:
product is sold, and to threaten dealers who sell below the figure fixed by the
Dated Nov. 11912. Due Nov. 11915. Int. M. & N. Par $500 and company by notice on the cartons (10 cents per package) to cut off their
$1,000 (c). Redeemable on any int. date at 101 and int. Central Trust supply. The scheme of taking advantage of the patent laws to enforce
Co. of Ill., Chicago, trustee. Total authorized, $200,000; outstanding, uniformity in sale prices is designated by the Government as a "mere
$150,000. Secured by deposit of $250,000 of the company's 1st M. 5% subterfuge and device to avoid the Sherman law."
A monopoly, it is asserted, is created through concentration in the
20
-year gold bonds, duo Nov. 1 1932, being the entire outstanding issue.
hands of those who observe the agreements and the exclusion of those who
Remaining notes can only be issued upon deposit of additional bonds.
Incorporated in Indiana (on November 131912)to acquire gas properties refuse to enter into the selling plan.
and distribute gas in various cities and towns in six counties in central Ind.
Kern Trading & Oil Co., San Francisco.
Capital stock,$1,000,000. Has already acquired all property of(a) NoblesA certificate was filed in California on Nov. 6 increasing capital stock
ville Gas & Improvement Co. of Noblesville, (b) Citizens' Gas Co., Tipton, Ind., and (c) Tipton Heat & Power Co., (d) valuable leases and pipe from $1,000,000 to $10,000,000.
lines adjacent thereto, and is now furnishing as in both cities. Owns time
Suit.
-See Southern Pacific Co. under "Railroads" above.
acres of land in centre of Noblesville, upon which it plans to erect a modern
plant for the manufacture of coal gas to be delivered in Noblesville and -V. 95, p. 683.
Tipton through company's present distributing system, enabling the company to serve both cities fron ome plant. Franchise in Tipton extends until
La Crosse Water Power Co.
-Plan-Merger.
1941, in Noblesville until 1936; both without burdensome restrictions.
The bondholders' committee
The mortgage securing these bonds is, in the opinion of counsel, a first of Fred. Vogel Jr., Frank 0. under the agreement of April 1, consisting
all property now owned or hereafter acquired. Additional that it has filed a plan of Wetmore and Harrison B. Riley, gives notice
mortgage upon
reorganization with the First Trust & Savings
bonds can only be issued for 80% of the cost of additional property or of Bank of Chicago, the depositary.
• additions and permanent improvements, and if issued during the lifetime
Press reports state that the plan calls for the formation of the "Wisconsin
must be pledged for their additional security.
of these notes
In Ry., Lt. & Power
$1,200,000 cap, stock and $2,500,000 bonds.
the opinion of counsel these notes are equivalent to a direct first mortgage to take over the Co.," with both of
properties
the Lacrosse Water Power Co. (incl.
on all the property. Present value of property (allowing for liberal depre- the Hatfield hydro-electric plant) and
the Winona Ry. & Light Co. (V.
ciation as determined by independent engineer William A. Baehr),$329,292. 95, p. 546). The bondholders'
protective committee will have control for
on these notes, $9,000)Earnings (Int.
1909.
five years. C. C. Smith is the receiver of the La Crosse Water Power Co.
1910.
1911.
'Gross
$46,703 $47,605 $44,237 and also of the Winona Ry., Lt. & P. Co., it is said will probably be at the
Net, after operating expenses
19,691
23,787
19 242 head of the new corporation. He is already President of the Wisconsin
Operates without competition, servingl two cities with combined Public Service Co., which is one of the properties of the North American
bank deposits $3,650,000 and a combined population of about 12,000 people Co. and it seems therefore not unlikely that the last-named corporation
in the heart of the richest agricultural section of Indiana. Noblesville is will eventually own control. The Wisconsin Public Service Co. is a consoli'
the bettor business centre, manufacturing enameled ware, electric carbons, dation of the Green Bay Traction Co. and Northern Hydro-Electric
straw matting, piano stools and furniture, carriages and wagons, canned Power Co. (See V. 94, p. 1697.)-V. 95, p. 1012.
better residence section.
goods and lumber; Tipton the
Lenawee County Gas & Electric Co. (Adrian, Mich.).
Receipts of United States Post Office, Indicating Growth of Cities.
1910.
1909.
1911.
-Bonds, &c.
-A circular describes the "first and ref." (now
$14,544
$13,675
Noblesville
$14,876
gold bonds, of which $250,000 were
11,131
12,389
12,774 Est. 14,000 first) mortgage 5
Tipton
-V. 95, p. 1686.
off°.ed last week by the 1st Nat. Bk. of Detroit,
Dated Jan. 1 1912. Due Jan. 1 1927. Red. as
part on
-Bonds Offered.
Inland Steel Co., Chicago.
-The First 30 days' notice on any interest date after Jan. 1 1913a whole or in accrued
at 1023'i and
Nat. Bank, Chicago, is placing at 102 and in 81,000,000 interest. Interest J. & J. at Detroit Tr. Co., trustee. Par $1,000 c*.
Capitalization Dec. 11912Authorized.
Issued.
6% extension and refunding mtge. bonds, dated July 1 1912 Capital stock (common)
$100,000
$100,000
and due July 1 1942, but callable, all or part, on or after Bonded debt
1,000,000
350,000
Escrow
July 1 1915 at 103 and int. on 60 days' notice. Int. J. & J. ments andbonds may be issued only for 85% of cost of additions, improveextensions when the annual earnings are 1% times the annual
in Chicago or N.Y. Auth.,$10,000,000;issued,$2,500,000. interest charge, incl. the bonds then being issued.
Digest of Letter from Pres. Alexis W.Thompson, Chicago, Dec. 20'12.
Earnings for the Year ending Nov. 30 1912.
-The bonds now sold are part of an authorized $10,000,000, Gross earnings
Bonds.
$65,410 Bond interest
$14,250
proceeds of which may be used to retire 1st M. bonds now outstanding, and Net earnings
35.873 Surplus
21,623
in permanent additions and improvements. The first $2,500,000 may be
Annual sales(3 mos. est.), 58,407,00 cu. ft.; actual sales for 9 mos. ended
used for new improvements of like cost, but additional bonds can only be Sept. 30 1912, 41,868,000 Cu. ft., an increase of 12%% over same period
Issued for 80% of the cost of improvements. A sinking fund of 4% per in 1911. Present total annual interest charges (on these $350,000
53- %
annum, beginning in 1928, will be used to retire before maturity bonds of bonds) will be $19,250, on which basis the foregoing net earnings were 1.86
this issue. In the meantime the prior lien bonds are being retired at the times the bond interest..
rate of $150,000 per annum.
Tho bonds are secured by a lien on all property now owned or hereafter Digest of Statement by Pres. I. C. Elston Jr.. Adrian, Mich., Dec. 1.
Incorp, In Mich. Mch. 25 1912, taidng over the property of the Adrian
acquired, consisting of blast furnaces, open-hearth furnaces, rolling mills
and ore leases, and valuable real estate at Indiana Harbor, Ind., and Chi- Gas Co. (see that co. above). Serves the thriving city of Adrian (population
12,000) under favorable franchise, terminable in 1931. Propcago Heights, Ill., and at the present time valued at over $10,500,000, not erty now over including
modern,
high-pressure booster system with four governors
. including property to be purchased with the proceeds of those bonds, and feeding into low-pressure
system; three holders, total capacity 325,000
subject only to $2,400,000 1st M. bonds which mature serially $150,000
per annum. The last of said bonds mature in 1928 and cannot be renewed. cu. ft.; 32% miles of mains. A recent contract for lighting the business
The net quick assets during the life of these bonds must always equal or streets (installation made in May 1912) produces a revenue of $2,400 a year.
exceed 50% of the amount of the outstanding bonds of this issue and can Receives on an average $1 12 per 1,000 cu. ft. net for gas used for lighting
purposes and slightly less than $1 net for fuel gas. A part of the earnings
never be less than $2,500,000.
Character of Business.
-The company's output consists of pig iron, must be set aside each year and used to strengthen the position of the bonds.
billets, sheet bars, structural shapes, plates, merchant bars, reinforcing bars, [J. N. McCallum is V.-Pres.; Geo. B. Fowler, Sec.-Treas.j-V.95, p. 1687.
bars and shapes for agricultural implements, blue annealed sheets, black and
Manufacturers' Light & Heat Co., Pittsb.-1Vi% Div.
galvanized sheets, formed roofing products, railroad tie plates, spikes,
A quarterly dividend of 1 % ha-s been declared on the $21,500,000 comtrack bolts and nuts, rivets, harrow teeth and telephone line material
practically all made of open-hearth basic steel. The wide range of the mon stock, payable Jan. 15 to holders of record Dec. 30, comparing with
of I% on Dec. 20 1911.
company's products has enabled it in dull times to keep better employed 1% from April to Oct. 1912, inclusive, and
than it would have with a more limited lino.
1903.
1901.
1907 to 1910.
1911.
1906.
1912.
1905.
Ore Mines.
-The company owns three valuable ore leases involving three
6
(Dec.)
6
None
6
3
producing mines, two of which are on the Mesaba range and one on the Cuy- -V. 95, p. 1125. 547.
une range, all carried on the books at actual cost. There is sufficient ore
Massachusetts Gas Companies, Boston.
In these mines to insure a good supply at a very reasonable cost for the period
-Earnings of
that those leases still have to run, which would average more than 30 years.
Controlled Companies.
-Net earnings of the subsidiary comCoke.
-Part of the proceeds of this issue is to be expended for a by-products
coking plant with daily capacity of 1,000 tons of coke, with by-products panies for November and the 5 months ending Nov. 30:
-November- 5 Mos. end. Nov. 30.
of gas, tar and ammonia.
Plants.
-(a) At Indiana Harbor. two modern blast furnaces in operation
1912.
1911.
1912.
1911.
with facilities for delivering molten metal to its steel department, consisting New England Gas & Coke
$64,568 $58,796 $327,928 $246,356
of eight 60
-ton open-hearth basic furnaces (with four more in course of con- Boston Consolidated Gas
158.574 125.807
487,930 429.708
struction), 36
-inch blooming mill and billeting mill, together with a variety East Boston Gas
8,680
6,091
39,926
26,595
of mills to finish the steel produced. Exceptionally well located for water Citizens' Gas Light
2,393
1,540
13,469
12,435
7,592
and retread transportation and embracing a large tract of land on the lake Newton & Watertown
7,022
30,950
26,937
13,065
a small part is now required for its purposes. With New England Coal & Coke
20,165
front, of which only
111,678
71,134
2,352
1,375
4,725
the additions and improvements now under way and contemplated, all of Federal Coal & Coke
2,024
which should be completed within a year, the company will have a produc- Boston Towboat
3,271
6.272
27,465
14,305
tion at this plant of approximately 500,000 tons of steel per annum. (b)
Total
The Chicago Heights Works consists of a finishing mill producing about
$263,497 $224.067 $1,044,072 $829,494
30,000 tons of steel per annum.
Increase in Gas Output.
Boston Consolidated Gas Co
Financial Statement, Based on Balance Sheet of Nov. 30 1912.
9.73
3.740
/
9.22%
2.00
East Boston Gas
Assets: Mines, land, plants, buildings, &c., $11,282,847; addi15.15
9.72 0
8.62
17.31
Citizens' Co. of Quincy
tions and improvements under way for which the proceeds of
27.70 0 22.25 0
28.92
21.71
Newton & Watertown
this issue will be used, $2,250,000; net current assets,
14.61%
0
15.63,
8.67 0
9.24%
-V.95, p. 1476, 1119.
$4,319,590
7
:
Deduct: For first refunding 6s, $2,400,000, duo $150,000 yearly
Mexican Telegraph Co.
-Partly Estimated Earnings.
$2,400,000; equity for this issue
15,452,437
-For the cal. years 1910, 1911 and 1912 (Dec. 1912part. est.), For 3 months and year ending Dec. 31:
Earnings.
.
the net earnings, after providing for exhaustion of minerals and depreciaTotal
Net
Mexican
Divid(nds
Balance,
tion reserve, applicable to bond int. and divs.,averaged $1,447,131. Based
Income. Income,
3 Mos.Govt.
Paid.
. Surplus.
on contracts now in force for,delivery during 1913, the earnings for the
$248,360 $205,860 $11,000 (2% %)389,735 $105.125
1912
coming year should reach at least $1,750,000.
240,498
198,498
11,500 (2%%) 89,735
97,263
Capital Stock and Dividends.
-The capital stock has recently been in- 1911
creased to 310,000,000. Of the new stock, approximately $1.000,000 issued
$899,360 $812,871 $45,000 1074358.940 $408,931
at that time was subscribed by stockholders at 125 per share, making the 1912
832,99850,01
46,
1911
10 0 358,940
)
total amount outstanding $8,000,000. Divs. have been paid for
345,077
four years on the capital stock outstanding at the rate of 7% tierthe past -V. 95, p. 821.
annum;
during the past two years there has also been paid an extra dividend of 3%.
Montana Water Co., Billings, Mont.
-City Plant
-V.95, p. 1686, 296.
' See "Billings, Mont.," in "State & City" department.
-V.88, p. 55.
International Agricultural Corp.-Prospeets.-
Pros. Schmidtmann reports unusually favorable prospects for the largest
output of fertilizer in the history of the business for the coming year, as a
result of bumper crops and high prices which have prevailed during the
Past :Year. The company's present contracts covering sales of phosphate
rock for future delivery are materially larger than ever before and contracts
covering sales of manufactured products for the coming season are approximatelY 25% greater than at the same time last year. Satisfactory earnings
for tho forthcoming season's operations are therefore anticipated.
-V.
95, P. 1211, 967.
Kansas City Stock Yards Co. of Maine.
-Incorporated.
The company has been incorporated in Maine with
ized stock, consisting of $2,500,000 common and $11,500,0011 authorstock, as surcessor, per plan in V. 95. p. 1275, to the $9,000,000 preferred
Missouri company of
the same name.
--V. 95, p. 1545, 1275, 1211.
National Light, Heat & Power Co., N. Y.
-Sale.
The report last October, then unconfirmed, that the properties of this
company (V.89, p. 290, 352; V.90, p.980, 1242; V. 92,p. 1246) had passed
to the Insult interests is now well substantiated by examination of
the list of properties shown as owned in the foregoing statement of the
Central Public Service Co., which company, it appears, has taken over the
properties of Charleston (Ill.) Illuminating Co., City Gas & Electric Co.,
Paris, Ill.; Jerseyville (Ill.) Illuminating Co., Pana (Ill.) Gas & Electric
Co., Taylorville (Ill.) Gas & Electric Co. The Twin States Gas & Electric
Co. (see that co. below), it seems, is the New England property referred
to in the statement regarding the Middle West Utilities Co.in V.95,P.1545,
while the two Missouri properties mentioned in the Middle West statement
are, we believe, Marshall Lt., Ht.& Power Co.(V.89. p.290; V.80, p.2401)
and the Lexington Gas & El. Co.(V. 89, p. 290), while the Indiana proporties presumably include the Central Indiana Lighting Co.(V. 90. p. 979:
V. 89, p. 359, 289; V. 87, p. 418).-V. 92, p. 1246.
1750
THE CHRONICLE
-Stock Offered.
Newburyport Silver Co., Keene, N. H.
Thomas 0.Perkins, Hartford,and II. C. Gibbs & Co., Boston,are placing
at par the unsold portion of the final $190,000 of the authorized $350,000
capital stock of this Massachusetts corporation, manufacturer of sterling
silverware, incl. knives, forks, spoons, tea and coffee sets, fruit dishes, &c.
Div. rate for last 5 years, 7% per ann., payable J. & J. 15. No bonds,
mortgages or preferred stock. Par of shares, $100.
Business established at Nowburyport, Mass., by Caleb Stickney, the
present Treas. and Mgr. Some 8 years ago moved to Keene, N. H.
Product sold to many leading jewelers, such as Smith, Patterson, Bigelow-.
Kennard of Boston; C. D.Peacock of Chicago; Theodore B.Starr in N.Y.;
Bailey, -Banks & Biddle, Philadelphia, &c.
Gross Sales and Net Earnings and Per Cent Earned Net on Outstanding Stock.
1912.
1908.
1911. (3 mo.est)
1910.
1909.
$38,580 $60,733 $70,701 $80,607 $150,000
Gross sales
45.000
21,187
Net earnings
7,630
18.332
7,784
26%
23%
Per cent
19%
14.8%
$12%
The outstanding stock, now $160,000, all paid in at par, is being increased
through the sale of the balance authorized up to $350 COO, all told, to take
care of the rapidly increasing business. Balance sheet Jan. 13 1912 shows:
Furniture and fixtures $1.014; machinery and tools, $57,917; accounts
receivable, $26,322; supplies, $27,681; cash, $2,369: silver, $116,801; sundries, $14,989; total, $247.094. Offsets: capital stock, $146,400; notes
payable, $94,000; accounts payable, $5,616; loss and gain. $1,079.
-Interest Payment, &c.
New River (Coal) Co., Boston.
The company has deposited with the Federal Trust Co. of Boston, the
trustee of its $2,500,000 5% bond issue, the $62,500 interest falling clue
Jan. 1. Net earnings, it is stated, were nearly sufficient to meet the pay
ment, although the property emerged from the receivership less than 6 mos.
ago. The coupon due July 1 was defaulted on that date, but was paid
6 weekslater. The past3months have,it isstated,shown gratifying increases
In production, and December shipments up to Dec. 12 were 12,000 tons in
95,p. 1477,548
-V.
excess of November, or at the rate of 1,000tons per day.
-Earnings, &c.
Northern Ontario Light & Power Co.
Friends of the company report as follows:
Results for October 1912, the First Month Since Acquisition of the Properties
of the British Canadian Power Co.
$49,239
Net income, after paying oper. exp., taxes and insurance
22,605
Proportionate requirement for int. on outstanding issue of bonds
Balance against proportionate $12,000 for 6% div. on prof. stock_ _$26,634
Of the outstanding pref. stock, $1,800,000 became entitled to cumulative
dividends on Jan. 1 1912. and thefull dividend for the year has been declared,
payable to holders of record Dec. 17. The remaining $600,000, issued later,
is entitled to dividends from Sept. 1, which will be paid in full to Dec. 31.
Because of construction work, &c. aggregating about $272,000, paid for
out of earnings, additional bonds can now be certified, which, with those
now in the treasury, are sufficient to meet the sinking fund requirement for
1913, 1914 and for 1915 to within about $40,000.
The company, as now constituted, is equipped to render highly efficient
service, the duplicate electrical and air plants under its control preventing
any danger of a shutdown because of accident, repair work, &c. Furthermore, it is able to operate more economically and to better advantage
because of the combined management, &c., arising from the consolidation.
Compare V. 95, p. 970. 1406, 1477.
-Stock Div., &c.
Owens Bottle Machine Co., Toledo.
The shareholders on Dec. 20 approved the plan to increase the authorized capital stock from $3,000,000 ($2,500,000 common and $500,000 pref.,
all subscribed) to $15,500,000, by adding $12,500,000 of new common stock,
of which $2,500,000 will be distributed as a 50% stock dividend to common
shareholders of record Dec. 24 1912. See V. 95, p. 1406, 1471.
-Plan Approved.
Pacific Mills, Lawrence, Mass.
The shareholders on Dec. 20 ratified the financial plan calling for an
increase of stock from $3,000,000 to $12,000,000 by 200% stock dividend
and sale of $3,000,000 at par to shareholders of record Dec. 20; also a reduction of par value of shares from $1,000 to $100. The new stock must
be subscribed for on or before Jan. 15 1913 and be paid for on or before Mch.
1 1913, 5% to be allowed on prepayments. See V. 95, p. 1546.
Peerless Motor Car Co., Cleveland. -Stock Div., &c.
The shareholders voted Dec. 20 to increase the capital from $3,000,000
to $10,000,000, equally divided between common and preferred. Holders
of the present $3,000,000 stock will receive a stock dividend of 40% in new
common, to represent accumulated profits, increasing the outstanding issue
to $4,200,000, and thereafter will be allowed to exchange one-half of their
holdings for an equal amount of 7% pref. If the right of exchange is fully
exercised, the share capital will consist of $2,100,000 common and $2,100,0007% pref. outstanding, with $2,900,000 of each remaining in the treasury
for future expansion. Compare V. 95, p. 1477.-V. 95, p. 1546.
[VOL. Lxxxxv.
* Total, including •amount expended on 1912 output, $23,253,035; less
1912 sales to date, $10,979,447; balance, $12,273,588.
Compare V. 9-1, p. 1180.-V. 95, p. 1335.
St. Louis Car Wheel Co.
-Sold.
-See Am. Brake Shoe & Fdy. Co. above.
-V.81, p. 36, 730.
Sierra it San Francisco Power Co.
-Listed.
--The New
York Stock Exchange has listed $6,500,000 1st M. 5% 40year bonds due 1949.
-For 12 months ending Oct. 31 191:2:
Earnings.
Gross earnings, $924,740: net after taxes
$602,581
Deduct-Int. on $6,500,000 1st M. 5% bonds, $325,000; int. on
$1,000,000 2d M.Ser. A bonds (net), $17,480
$342,480
Int. on 2d M.Ser. B bonds, payable at option of company until
July 1 1916 in additional 2d M.bonds, Ser. D,the net income
being re-invested in the property, which option the company
has exercised up to the present time
348,778
Excess of int. on Ser. D bonds over net income applicable to investment under terms of 2d mtge.,&c
$88,677
On Oct. 31 1912 there were $7,157,000 2d M. series "B" 6s out.
V. 95, p 1625.
Standard Oil Co. of Indiana.-Description.-
Ackermann & Coles, N.Y.,in a circular dated Dec.13,reportin substance:
Incorp. in Indiana in 1889. Capital stock is $30,000,000, par $100.
Annual meeting at Whiting, Ind., March 6.
Has three refining plants, with a combined capacity of from 65,000 to
85,000 bbls. per day of crude oil (the amount depending on whether all
possible products are secured, or whether only the lighter distillates are run
off, leaving the remainder as fuel oil), viz.: (1) at Whiting, Ind., near
Chicago and Lake Michigan, the largest refining plant in the Middle West;
estimated to be running from 30,000 to 35,000 bbls. a day of Oklahoma
crude; includes between 300 and 400 acres of land. (2) At Wood River,
near Upper Alton, on Mississippi River. sixteen 1,000
-bbl. stills; capacity of 15,000 to 20,000 bbls. of crude a clay. Is run entirely on Illinois
crude; includes 400 acres and has recently purchased additional land, giving
river frontage; is starting to build new stills. Rumor says 40 of 1,000 bbls.
each; also that the Sugar Creek, Mo., plant may move there. (3) Plant,
with 115 acres of land, at Sugar Creek, Mo., not far from Kansas City.
Capacity 10,000 to 15,000 bbls. of crude per day, at present run at higher
figure; principal product, fuel oil, but also turns out gasoline and burning
oils, but not wax or paraffine: is run on Oklahoma crude okl; reported as
having some trouble with State regarding right to do business and to be
'
holding up improvements costing $1,000,000 until matter is settled.
Including tank cars, steamboats, distributing stations, cash capital, &c.,
we believe that, as going plants, the properties are worth much more than
their present capitalization. Each State has a different system of assessment, with a more or less uncertain basis of valuation. Following valuations are for 1912: Whiting-real estate, $2,899,715; Personal property,
$3,103,665. We think this is based on 50% of land values and 70% of
personal property. (2) Wood River-real estate, $960,000; personal property, $1,291,500. Think this is based on 70% of real values. (3) Sugar
Creek-real estate, $11,240; improvements, 8400,000; personal property,
$92,000; merchandise, $21,000. Possibly 40% of value on real estate and
50% on personal property
Prior to dissolution, with capital of $1,000,000, the company is reported
to have paid 850% in 1903, 450% in 1906 and 110% in 1911. After the
dissolution, on May 15 1912, the capital stock was increased from $1,000,000
to $30,000,000; the increased capital was given to the stockholders as a
2,900% stock dividend. On Aug. 15 1912 a cash dividend of 3% was paid
on the new capitalization, and on Nov. 30 a cash dividend of 3% and 7%,
making for 1912 a total cash disbursement of $3,900,000.
Based on its estimated crude capacity and on the known profits at the
present time of similarly located plants, this company should net at least
50c. per bbl. on every barrel of crude oil refined, which would mean an earning of 38% to 45% net per year on its present capitalization. The cost of
the raw material includes (a) cost of crude oil at the wells, $1 08 per bbl.
for Illinois crude and 83c. for Oklahoma crude. (b) Pipe line charges,
which are based on railroad rates, being usually 7% to 20% lower. The
freight rates per barrel are about: Casey, Ill., to 'Wood River Ill., 17c.;
Tulsa, Okla., to Sugar Creek, Mo., 26(c.; Tulsa, Okla., to Whiting, Ind.,
-V. 95, p. 1126, 180.
84c.
Directors: W. P. Cowan, Pres.; L. J. Drake, V.-Pres.; G. W. Stahl,
Sec. & Treas.; C. D. Gano. Asst. Sec. & Treas.; A. D. Eddy and W. M.
Burton.
-Rumored Stock Div.
Standard Oil Co. of New York.
The quotations for the stock have recently risen greatly on rumors of an
impending large stock dividend, under which the authorized stock will be
increased from $15,000,000 to $60.000,000.-V. 94, p. 1531.
-Dividend Increased.
Standard Screw Co., Chicago.
-The New York Stock A semi-annual dividend of 2% has been declared on the $2-Listed.
Pettibone Mulliken Co.
listed $1,310,500 7% cumulative first pref. 500,000 common stock, payable Jan. 1 to holders of record
Exchange has
and $1,038,200 common stock, with authority to add $939,- Dec. 20.
Dividend Record of Common Stock since 1904 (Per Cent).
500 additional first pref. and $5,961,800 additional common
Jan. 1913.
July 1912.
Jan. 1912.
Jan. 1905 to July
stock on notice of issuance and payment in full, making the 6% per ann.(3% j 1911.
2%
17o
1%
& J.)
total amounts authorized to be listed $2,250,000 first pref.
On the $2,000.00 pref. stock 3% has been regularly paid each J. & J.
0
.
See V. 95, p. 46.
$7,000,000 common stock.
and
•
Earnings.-Tho undivided profits from Jan. 1 to July 31
-Note Issue.
Steel Company of Canada.
This company some months ago disposed of an issue of $1,200,000 of 6%
in the balance sheet of July 31 1912 as
1912 are shown
and maturing $400,000 in each of the years 1915-6-7.
notes dated July 1 1912
$217,861.-V. 95, p. 548.
Coupons payable J. & J. at Bank of Montreal, Toronto, Montreal, New
York and London, England. The Dominion Bonds Co. in November last
-Outlook.
Pond Creek Coal Co.
lot of these 1916 notes at a price to yield 6%%.-V.95,p.41.
& Co. N. Y. and Boston, have issued a booklet (with offered a small
Hayden, Stone
'
map, &c.) regarding this company,org. Nov.16 1911 with $2,000,000 auth.
Twin State Gas & Electric Co., Hoosick Falls, N. Y.
stock in $10 shares to develop 30,000 acres of coal land in Eastern Kentucky.
The Norf. & West. has built an 18-mile branch to the company's mines, and
on Nov. 1 actual production began. there being now six mines which are
shipping Coal. While it is not expected much in excess of 500,000 tons will
be produced the first year, the bankers consider it practically certain that
the company's operations will heal to be planned for an annual output of
between 3,000,000 and 5,000,000 tons, as againvt the 2,000,000 antici-V.93, p. 1169, 1538.
pated at the inception of the enterprise.
This company, which operates in Hoosick Falls, N. Y.; Dover, ithisdale,
&c., N. It.; Bennington and Brattleboro, Vt., and Berwick and Lebanon,
Me. (V. 84, p. 1556; V. 89, p. 291; V. 90, p. 981), is understood to have
passed in October last, along with the other properties of the National Lt.
Heat & Power Co., under control of Middle West Utilities Co. (see V. 95,
p. 1545).-V. 90, p. 981.
--The New
-Listed.
(M.) Rumely Co., La Porte,. Ind.
York Stock Exchange has authorized to be listed $2,823,000
additional common stock, on notice of issuance and payment
in full, making the total amount listed $12,000,000.
0. A Kilvert & Co., Providence, R. I., have recently been placing at par
and int. $250,000 "secured 6% gold notes," being part of the issue of
$1,500,000 dated Sept. 1 1912 and due Sept. 1 1915, but callable on any
int. date at 101 and int. Coupon notes of $1,000. Int. M.& S. at N. Y.
Trust Co., N. Y., trustee.
Organized in 1910, its chief holdings being in the securities of companies which Bertron, Griscom & Co. control or in which they are largely interested. Has recently been succeeded by United Equities Corporation,
with a capital of $4,000,000 preferred and $3,000,000 common, which has
assumed payment of United Equities Co. 6% notes. (V. 95, p. 1625.)
Stocks are_Deposited as Collateral Security for These Notes.
Par Val. Present Market Val.
Internat. Trac. Co., Buffalo, N. Y., pf. stk_$2,000,000 92%-$1,840,000
400,000 80%- 320,000
American Cities Co. pref. 6% stock
do
common stock
1,200,000 47%- 564,000
do
63,000
United Gas & El. Corp. coin. stock
180,000 35%The total market value of the collateral is $2,787,000. In addition, the
issue is followed by the $4,000,000 pref. stock rceently sold by the United
Equities Corporation. Earnings of the company for the year ended March 1
1912: Net, $279,812; 6% int. on $1,500,000 notes, $90,000; balance, $189.812. See also V. 95, p. 1625.
Of the new stock, $500,000 has been issued for cash, $1,253,000 in payment for the business, assets, &c., of the Northwest Thresher Co., and the
balance is to be sold for cash in the near future. The Northwest Thesher
Co. was incorporated in West Virginia June 29 1901; there was outstanding at time of purchase by the M. Rumely Co. $444,000 common stock,
the entire preferred stock having been retired and canceled by the Thresher
Company prior to such purchase ($219,000 retired on Feb. 12 1912.)
The plant is located on a tract of 17.36 acres at Stillwater, Minn., and consists of an iron-clad factory building, brick foundry blacksmith shop.
'
paint shop and frame warehouses;from Jan. 1 1912 to Sept. 1 1912 had built
and sold 750 gas tractor engines and by the end of the current year there
should have been manufactured 1,300 gas tractor engines. For the cal.
year 1911 the sales aggregated $669,700 and int. discounts, &c., $41,198;
'
total income, $710,8971 gross profit, $231,032; int, and discount, $16,390;
net profit, $214,642. Dividends had been paid on the pref. stock at 6% per
annum from 1907 to date of retirement, but nothing on the common stock,
the surplus earnings having been retained in the business.
Rumely Co. Sept. 30 1912 (Total Each Side $30,852,197).
Bal. Sheet of
$10,000,000
Real est. & buildings_ _ _$2,817,465 Preferred stock
Mach'y,equip., tools, &c 2,021,583 Common stock issued.._ 9,155,300
21,700
do paid in,not issued
Investments
471,963
9,349,908
Notes payable
Notes receiv., less commis.
1,052,559
ctfs. outstanding
7,034,189 Accounts payable
65,000
Accounts receivable
3,215,719 Accrued taxes, &c
150,000
Cash in banks
1,313,869 Reserves
1,057,729
*Inventories
12,273,588 Surplus
Patents
1,673,820
80,000
Deferred charges
-Secured Gold Notes.
United Equities Co., N. Y.
United Equities Corp. (of Va.), N. Y. City.
See collateral for notes under United Equity Co. above and compare
V. 95, p. 1625.
United Illuminating Co., New Haven.--Stock.-
The shareholders will vote Jan. 4 on increasing the authorized capital
stock from $2,000,000 ($1.800,000 outstanding) to $2,500,000. Stockholders of record Dec. 21 will be offered the right to subscribe for $300,000
new stock at par MOO a share), subscriptions payable in four equal instalments on April 1, Oct. 1 1913 and on April 1 and Oct. 11914. Dividend rate
-V.91, p. 1778.
-J.).
8% per ann.(Q.
DEC. 28 1912.1
THE CHRONICLE
1751
The proceeds of the present issue, it is stated, will be used for increasing
United Shoe Mach. Corp.—Appeal Submitted.—
the
The appeal of the Government from the decision of Judge Putnam in the the working capital, and also for the purpose of paying for large additions to
U. S. District Court for Massachusetts sustaining demurrers to 4 of the 5 steelplant now under way,including a fourth blast furnace open-hearth
plant, &c.—V. 93, p. 294.
counts in the indictments against Pres. Sidney W. Winslow, Edward P.
Hurd, Geo. W. Brown, William Barbour and Edward P. Rowe for violation of the Anti-Trust law was submitted to the U. S. Supreme Court
—Articles were filed on Tuesday with the Secretary of
on Monday. Compare V. 94, p. 702, 1445.—V. 95, P• 1212, 116.
State in Albany incorporating the business of William
United States Light & Heating Co.—Earnings.-Year
Net
Other
Total
Preferred Balance,
Profits.
Income. Income. Dividends. Surplus.
June 30 1912
$358,075
$7,950 $366,025 $175.000 $191,025
152,859
Dec.31 1911
327,859
-$327,859
175,000
There was also appropriated for reserve from the earnings of the last fiscal
year $10,129. The net shipments for the late fiscal year were $1,835,676;
manufacturing costs, $1,187,100; leaving gross profits, $548,875; selling
and operating expenses were $290,800; leaving net profits as above, $358,075.—V. 95, p. 970.
U. S. Printing & Lithographing Co.—First Divs.—
initial quarterly disbursements of 19.,% and 2%,respectively, have been
declared on the 1st cum.7% pref. and 2d cum.8% pref. stock, respectively.
—V. 95, p. 1044, 425.
--Bonds Called.—
- United States Steel Corporation.
One hundred and eighty-seven 1st M.5% bonds of the Pittsburgh Steamship Co. for payment at par and int. on Jan. 1 at Union Trust Co., Pittsburgh.—V. 95, p. 1478, 1335.
United Stores Association, N. Y.—Receivership.—
Judge Thompson in the U. S. District Court in Phila. on Dec.6 appointed
Jacob S. Hett of that city receiver for this New York corporation, with office
at 1261 Broadway, operating, it is said, a chain of 520 stores dealing in all
kinds of merchandise for home and personal use.. Failure of stockholders to
pay up their subscriptions is given as the reason for the failure. The company was organized in 1908. Auth.capital, $5,000,000;amount issued,itis
stated, was increased in 1912 from $600,000 to possibly $1,000,000.
Waygamack Pulp & Paper Co.—Status.—Greenshields
& Co. of Montreal Nov. 1 said in substance:
This company, with which we have been associated since its inception,
is now producing paper from the most modern "Krafft" paper mill in the
This production will gradually
world, at the rate of about 40 tons a
day'
be worked up to well over the normal fifty-ton output. Shipments of
paper will start in November. At the same time the company from this
year's drive has been cutting lumber at the rate of about 100,000 ft. since
June 1.
The pulp and paper plant cost about $1,500,000; the company has about
$600,000 in working capital, and the 1,100 sq. miles of practically virgin
timber owned by the company is worth at least $1,500,000; total net assets,
$3.600,000. The market for "Kraft" paper is world-wide and the company
is assured of a demand at prices giving a wide margin of profit. Compare
V. 05, p. 1216.
Western Dry Dock & Shipbuilding Co., td., of Port
Arthur, Ont.—Bonds Offered.—Peabody, iloughteling &
Co., Chicago, are placing at par and int. $750,000 1st M.
6%
serial gold bonds of this subsidiary of the American Shipbuilding Co., which owns 90% of stock. A circular shows:
Dated Jan. 2 1913. Payable in series as below. Red. on any int. date
at and after Jan. 1 1917 at 103 and int. Par $500 and $1,000 (C*). Principal and semi-annual int. payable at Bank of Nova Scotia in Toronto,
New York and Chicago. National Trust Co., Ltd., of Toronto, trustee.
Total auth. $1,000,000, viz.: issued now for current additions to plant and
for refunding floating debt, $750,000, due $60,000 annually on Jan. 1 1916
to 1927 and $30,000 Jan. 11928; reserved for plant extensions if required
and at a rate not to exceed 50% of the actual cash cost thereof, $250,000,
[due $30,000 Jan. 1928,$60,000 yearly 1929 to 1931 and $40,000 Jan. 1932.1
Secured by first mortgage upon all property now owned or hereafter
acquired at Port Arthur, Ont. Valuation: 125 acres of land on navigable
water 2 miles from business centre et city; dry dock, buildings, plant and
equipment. $1,646,035; net working capital, $411,712; total assets, $2,057,747. Actual investment by stockholders, $1,085,173; by bondholders,
$750,000; total, $1,835,173. Balance principally the company's land
which was donated by the city.
The plant includes (a) concrete dry dock with steel gates, equipped with
every modern appliance, and able to accommodate a steamship 650 ft. long;
(b) machine shop, 90x180 ft., plate and bending mill 210x250 ft., boiler
shop 90x180 ft., foundry building 65x120 ft., powet house, mold loft,
pattern shop, fireproof pattern storage building and 2
-story office building.
These buildings are all of brick and steel construction, except the plate and
bending mill, which is entirely of steel.
Canadian Govt. has undertaken to pay the company
Subsidies.—The
each year for 20 years, after the first year of operation, $:37,741, being 3%
on $1,258,050, the cost of the plant, based upon report of Engineer of Public
Works. The city has undertaken to pay the company a subsidy of $25,000
per annum for 10 years, provided the company employs 300 men yearly,
or ratably for a less number with right to company to earn any deficiency
by employing in excess of 300 men in prior or subsequent years. Present
employees between 600 and 700 men.
Earnings —The plant, now practically completed has been under construction since 1910. During this period of partial operation the net
earnings before charging interest were: Six mos. ending June 30 1911 (incl.
bonus of $10,000), $12.790; year ending Juno 30 1912 (incl. bonus of
$27,500), $82,284. Estimate for year ending June 30 1913: Net earnings,
$150.000; subsidies, $62,741; total,$212,741. Maximum interest on these
bonds,$45,000.
Ownership.—Ninety per cent of the capital stock is owned by the American Shipbuilding Co. (see V. 95, p. 1400), which during the last 8 years
has paid out of earnings 7% yearly on its $7.900,000 pref. stock; written
off for depreciation, maintenance and reserve. $2,887,852; spent upon
re-building docks, &c.f $.826,830; accumulated reserves of $968,232; paid
dividends upon its $7,600,000 common stock amounting to $2,128,000,and
has also accumulated from earnings a surplus of $6.507,892. It has total
net assets of over $22,000,000 and no bonded debt; and, except for a $300,000 purchase money mortgage (Buffalo Dry Dock Co.), these are the only
bonds against any of its subsidiary companies.
Western Union Telegraph Co.—Favorable Decision.—
The U. S. Supreme Court on Dec. 23, reversing the Alabama Supreme
Court in the case of E. G. Williams against the city of Talladega, Ala., held
Invalid the city ordinance requiring the company to pay a license fee of $100
a year and for non-payment of which he was arrested. It was held that
the tax is a burden on inter-State commerce.—V. 95, p. 1688, 1549.
Willys-Overland Co., Toledo, 0.—Initial Dividend.—
An initial quarterly dividend of l3i% has been declared on the $5,000,000
7% cum. pref. stock, payable Jan. 1 to holders of record Dec. 23.—V. 95,
P • 1517.
(F. W.) Woolworth Co., New York.—Yearly Sales.—
The gross sales for the fiscal year ending Dec. 31 will, it is stated, be considerably larger than the estimates of $60,000,000 made by the officials early
In the year. Sales during the past 6 months have been much larger than anticipated. The average monthly gain for the year over 1911 has been
16.66%. The Nov. sales were $5,621,262, compared with $4,506.062 for
Nov. 1911, an increase of 24.75%, and for the 11 months $51,070,706,
against $43,908,073. As sales during thecurrent month have been running
about 25% ahead of last Dec., when they amounted to $8,709,851, they
should approximate $10,887,313. Adding the sales for the 11 months
brings the total to $61,964,020 for the year (against $52.616,124 in 1911).
As the company realizes about 10% profit on gross sales, this would mean
net of $6,196,402, or 10.2% on $50,000,000 cmmon stock after the regular
7% dividend on $15,000,000 pref.—V. 96, p. 1126, 1279.
Youngstown Sheet & Tube Co.—New Stock.—
FY Subscriptions for the $1,500,000 7% cum. pref. stock offered pro rata at
par ($100 per share) on or before Dec.31 to holders of the $10,000,000 common stock of record Dec. 9 1912 are made payable 50% Apr. 1 1913 and
50% Oct. 1 1913. Each payment of 50% will be applied as payment in
full for that amount of stock, stock certificates being issuable for each installment as paid. This is the remainder of the $5,000,000 joref. auth.
July 25 1911, $3,500,000 having previously been offered to shareholders
at par.
P.
Bonbright & Co. under the name of William P. Bonbright
& Co., Inc. The capital of the new company, as provided
in the articles, is $5,500,000 in 7% cumulative preferred
stock, with 100,000 shares of common stock without par
value, none of which has been open for public subscription.
The firm of William P. Bonbright & Co. was established in.
1895, and during the past ten years has specialized in electrical developments and securities, in which business it
has made a marked success. About 15 years ago it established a house in London, and it has offices in Boston and
Philadelphia. The object of the present incorporation is to
provide the considerable additional capital demanded by a
rapidly growing business and, through stock ownership, to
perpetuate the interests of the members of the co-partnership
and to safeguard a large body of clients through a permanent
organization to a n extent impossible in the case of a part:.
nership. In addition to the ten members of the old firm the
directorate as finally constituted will include several men of
prominence in the electrical world, here and abroad. The
members of the old firm are the officers of the company, and
the policies of the Bonbright house will be continued unchanged. The partners are William P. Bonbright, Irving
W. Bonbright, William F. Fisher, Frederic C. Walcott,
Starling W. Childs, Frederick W. Stehr, George R. Buckman, the Rt. Hon. Albert Lord Fairfax, Orlando B. Willcox
and G. C. Cassels.
William P. Bonbright & Co. advertise elsewhere in the
"Chronicle" an announcement from their December circular
regarding public utility companies which should be of special
importance to the investor during the January investing
season.
—Bertron, Griscom & Co., members of the N. Y. Stock
Exchange, of New York Philadelphia and Paris, to-day advertise in our columns the "Broad Service" which is typical of
their organization. The firm has specialized for 20 years in
the purchase, operation and financing of public service corporations in prosperous, growing centres of the United States.
These companies,operating in over 25 cities, under the direct
supervision of this firm, have increased steadily in value and
are now reporting an aggregate annual gross revenue exceeding $27,000,000. The total population served is over
2,000,000. Bertron, Griscom & Co. will purchase, outright,
public utility properties operating in prosperous and growing
cities of 50,000 population and over, and will also finance
these properties and supervise their operation; and offers to
banking firms both in America and Europe entire issues of
mortgage bonds and preferred stocks. Through their retail
selling organization the firm will be glad to correspond with
investors and submit for consideration a carefully selected
list of securities issued by the companies in which they are
interested, whose mortgage bonds yield 5 to 6%, short-term
notes 53/ to 6% and preferred stocks 63' to 7%. A comprehensive book containing a full description of all the firm's
properties will be mailed anywhere in America or abroad
upon request to the New York office, 40 Wall Street.
—For January investment, the banking house of J. S. &
W. S. Kuhn, Incorporated, of Pittsburgh, Chicago, Philadelphia, New York, Boston and London, England‘ are
advertising elsewhere in the "Chronicle" to-day a selected
list of railroad, corporation; municipal and public utility
bonds, which they own and offer, subject to prior sale,
yielding 3.55% to 6%. Many of the bonds are tax-exempt
in Pennsylvania, Massachusetts, California and New York.
Investors are requested to correspond regarding any of the
securities advertised in this list and also to inquire for the
latest circular, which describes the firm's entire list of offerings for the January investment period. Since the organization of J. S. & W. S. Kuhn, Inc., there has never been a
day's delay, it is stated, in the payment of either principal
or interest of any security it has brought out.
—Woodmansee, Davidson & Sessions of Chicago announce
that they have associated with them in the capacity of
combustion engineer C. M. Garland, late of R. D. Wood
Co., and formerly of the faculty of the University of Illinois.
Mr. Garland has had extensive experience in theoretical
and practical combustion work during the past ten years,
and has specialized in the gasification of fuels and the application of producer and water gas to industrial and power
requirements. After Jan. 1 Woodmansee, Davidson &
Sessions, in addition to their present line of work, will be
open for consultation on the design and operation of producer
and water gas apparatus, gas power installations, gasification of low-grade fuels and the application of gas to the
various heating problems.
—At 91% and interest, free of Pennsylvania State tax and
to yield an income of 5.50 %, Edward B. Smith & Co. of
Philadelphia and New York are offering by advertisement today a limited number of Lehigh Valley Transit Co. 5%
refunding and improvement mortgage bonds, which the
bankers recommend to investors. These bonds are part of
an authorized issue of $15,000,000, of which $4,112,000 are
outstanding. A descriptive circular and map will be sent
on request. For the general investment features of these
bonds,see he .irm's advertisement in our columns and also
1752
THE CHRONICLE
the news item in the "General Investment News Department." •
•-The largest payers of January coupons,interest and dividends are to-day publishing in our advertising columns
full lists of their payments, for the convenience of bond and
stockholders, banking institutions and others who collect
them. These Jan. 1 coupon advertisements cover several
pages and include: Guaranty Trust Co., Harris, Forbes &
Co., Columbia-Knickerbocker Trust Co., armers' Loan &
Trust Co., Seaboard National Bank, kountze Brothers,
Bankers Trust Co., U. S. Mortgage & Trust Co. Stone &
Web:ter of Boston, Winslow, Lanier & Co., &c. '
The New
York Trust Co.'s list was published in last week's issue,
Dec. 21.
-The bond department of the Guaranty Trust Co. of
this city and 33 Lombard St., London, Eng., has prepared
a list of securities which it offers as suggestions for the investment of surplus funds. The list, as advertised in our columns to-day, comprises railroad, corporation, short-term
notes and equipment bonds, offering the investor a wide
choice, with income ranging from 4.50 to 6.40%. See the advertisement for particulars. The bond department will be
glad to furnish upon request detailed information regarding
any of the securities in the list.
-The Philadelphia banking firm of Mellor & Petry will
be dissolved on Dec. 31 by mutual consent, and will be succeeded by the new firm of Mellor, Petry & Canby. The
new organization will be composed of the present members of
the firm, namely Abraham Barker Mellor and Frederick
J. Petry, general partners, and Henry C. Berry and Howard
Longstreth, special partners, with the addition of William
Marriott Canby as a general partner.
-For January first requirements the banking house of
Wm. A. Read & Co., 31 Pine St., New York, is offering for
investment United States and Canadian municipal bonds
yielding from 4 to 5%; guaranteed railroad bonds yielding
from 4 to 4%%, and first mortgage public utility bonds
yielding from 5 to 5%%. A complete January circular
giving full particulars will be mailed upon application. The
firm maintains offices in Chicago, Philadelphia, Boston and
London, England.
-Private and public investors at this season of the year will
be interested in the selection of railroad and utility bonds,
short-term securities and preferred stocks which William
Salomon & Co., of 25 Broad St., New York, and 105 So. La
Salle St., Chicago, is advertising for January investment in
this issue of the "Chronicle." These securities are offered
subject to prior sale and change in price. See the advertisement for general particulars. Special descriptive circulars
may be obtained on application.
-The old established banking house of E. W. Clark & Co.,
at 321 Chestnut St., Philadelphia, Boston, Pittsburgh,
Wilkes-Barre and Reading is advertising in this issue a very
attractive list of January investments which, the investor
should not overlook in making selections. These securities
are offered subject to previous sale and the interest return
ranges from 4 to 6.94%. Descriptions of any of the bonds,
notes or stock will be furnished on application.
-J. S. Farlee & Co., established 1882, at 11 Wall St.,
this city,and Hartford,Conn., invites inquiries from private
individuals, banking institutions and others with surplus
funds for investment. This N. Y. Stock Exchange firm
specializes in bonds and inactive securities and always has
on hand securities for conservative investment. Circulars
mailed on application.
-Knauth,Nachod & Kuhne, international bankers of New
York and Leipzig, have made a careful selection of bonds,
which they recommend to investors whose first consideration
is safety of principal. This list is advertised in to-day's
issue of the "Chronicle." The income to the investor varies
from 4.25 to 5.75%. Orders may be wired at the firm's
expense to the bond department, 15 William Street, this city.
-Merrill, Oldham & Co., 35 Congress Street, Boston,
will be pleased to furnish upon request a selected list of bonds
which they feature as"The 5% Investments." Their
comment in today's advertisement upon "the five per cent
investment" is particularly interesting to purchasers of bonds
of public service corporations.
-H.Wallenberger of Chicago is incorporating his business
and will operate as a stock company after Jan. 1. Mr. Wallenberger has sold his seat on the Chicago Stock Exchange
because the rules of the Exchange do not permit of a membership being held by a corporation.
-Lee, Higginson & Co. of New York, Boston and Chicago
and Higginson & Co. of London are today advertising in
the "Chronicle" an extensive and varied list of high-grade
bonds for January investment. The income to the investor
ranges from 43/i% to 6.35%.
-The bond and investment business of Swan & Co. has
been transferred to James N. Wright & Co. of Denver,
with whom Mr. Henry Swan will hereafter be associated.
-Attention is called to the offering by Wells & Dickey Co.,
Minneapolis, of Minneapolis Gas Light Co. first mortgage
5% bonds. See particulars in advertisement.
-A reproduction of an oil painting entitled "Life's Sweet
Summertime" is embodied in a handsome art calendar issued
by John W. Dickey, Augusta, Ga.
[VoL. Lxxxxv.
ghe Tomutercial Winxes.
COMMERCIAL EPITOME.
Friday Night, Dec. 27 1912.
While there has been some slowing down of domestic
business, the foreign trade is very active. The recent exports are of unprecedented size. Imports are also large.
The bank exchanges still show, noteworthy increases over
those of last year and the year before. Railroad gross earnings keep improving. Railroads are purchasing iron and
steel material heavily. The holiday shutdown in iron and
steel will be briefer than usual. The general holiday trade
in most sections of the country was probably never equaled.
As tariff revision approaches, there is a note of caution in
some branches of trade, yet the feeling is generally cheerful.
LARD has been quiet and about steady; prime Western
$10 50; refined, Continent $10 80; South American $11 70
and Brazilian in kegs $12 70. Speculation has been on only
a moderate scale, but prices have on the whole, shown more•
steadiness, partly owing to smaller receipts of hogs at Chicago and more or less covering of shorts. On a single day
the receipts of hogs at Western points were only 67,600, as
against 84,700 on the same day in the previous week. In
other words,the receipts at the Chicago stock yards and other
centres of the West have not been up to expectations. Therefore, although speculation has been far from active, there
has been enough covering of shorts to give bulls the advantage.
DAILY CLOSING PRICES
Sat.
December delivery_cts_10.10
January delivery
9.90
May delivery
9.85
OF LARD FUTURES IN CHICAGO.
Mon.
Tues.
Wed. Thurs.
Fri.
10.20
10.20
Holt- 10.20
9.90
9.92% 9.95
day.
9.92% 9.75
9.97% 9.973i
10.00
9.85
PORK firm; mess $19(019 50; clear $22 @$24 50; family
$23@$24. Beef stronger; mess $20@$21; packet $22(023;
family $24@$26; extra India mess $40@:, 1. Cut meats
,,
irregular; pickled hams 10 to 20 lbs., 13%@139'c.; bellies,
clear, f.o.b., New York, 6 to 12 lbs., 11% @ 12c. Butter,
creamery extras, 37@37Mc. Cheese, State, whole milk,
colored specials, 18c. Eggs, fresh gathered extras, 31(02c.
OILS.
-Linseed continues firm; City, raw, American
seed, 46@47c.; boiled 47@48c.; Calcutta 70c. Cottonseed
oil firmer; winter 6.40@6.90c.• summer white 6.40@6.90c.
Cocoanut oil steady; Cochin 10M@10Yo.; Ceylon 92@9c.
Chinawood firm at 7%@8Mc. Corn in good demand at
5.80@5.85c. Cod steady at 41 @,42c.
COFFEE hascontinued quiet, with No.7 Rio 14%0©14Mc.
Mild has continued to sell on only a very moderate scale, but
prices have remained about steady with fair to good Cucuta
153/8@163'c. Speculation has been comparatively light as
usual at the holidays, so much so that of late the market has
had no very decided tendency one way or the other. Still
it is to be remarked that the primary receipts have latterly
been large, although there is no denying that the total thus
far is considerably smaller than at the corresponding date
last year. Brazilian firm offers have of late been somewhat
lower. The fact that the receipts at primary points are so
large seems to discourage general buying for long account.
They do not seem to accord with relatively low crop estimates
received a while ago from Santos. Closing prices follow:
Dec
Jan
Feb
March
13.25®i3.28 April
i3.25©13.28 May
13.35 13.38 June
July
_i3.60©1
13.73®13.74
i3.85@13.86
13.90 13.92
13.96®13.98
August _14.00 14.06
Sept
14.1213J14.13
October
14.12 14.13
Nov
14.12®14.13
-Raw quiet but steady. Receipts at Atlantic
SUGAR.
ports for the week were 12,715 tons,as compared with 13,190
last year and 23,175 in 1910. The estimated meltings were
23,000 tons, against 25,000 last year and 20,000 two years
ago. Stocks are now 39,500 tons, against 106,104 last year
and 60,217 two years ago. Centrifugal, 96-degrees test,
3.92c.; muscovado, 89-degrees test, 3.420.; molasses, 89degrees test, 3.17c. Refined quiet and unchanged; granulated 4.90c.
-Refined steady; barrels, 8.50c., bulk
PETROLEUM.
4.80c. and cases 10.40c. Naphtha firm; 73 to 76-degrees,
in 100-gallon drums, 233'c.; drums $8 50 extra. Gasoline,
86-degrees, 27c.; 74 to 76-degrees, 24c.; 68 to 70-degrees,
.21c., and stove, 193 c. Spirits of turpentine 410. Com%
mon to good strained rosin, $5 90 to $6.
TOBACCO.
-Prices are generally steady but the usual
holiday quietness characterizes the trade. Both binder
and filler are held with confidence. Holders believe that the
activity in the cigar-manufacturing business presages larger
buying of tobacco by the manufacturers early in 1913.
In Sumatra the trade has been small. Only a routine demand
has prevailed for Cuban leaf.
COPPER has been firm with Lake 173/2c. and electrolytic!
17.45@,17 Mc. Exports have been larger. London quotations have risen. Tin has of late shown some reaction in
London, but, even so, spot tin here is 5.200., although
January has sold at t50c. and February at 49.90c. Lead
has receded to 43.c. in sympathy partly with a
with
decline in London. Spelter is still 7.30c.
small sales. Pig iron has remained at $17@$17 50
for No. 2 Foundry East at furnace. As regards
manufactured iron and steel, the sales at this holiday season
have been larger than usual. They have, indeed, impressed
many as being remarkable under the circumstances. Some
30,000 tons of steel billets, mostly for rolling, it appears,
have latterly been purchased in Philadelphia and 15,000 tons
at Pittsburgh. Prices firm.
THE CHRONICLE
DEO. 28 1912.]
1753
COTTON.
OnShipboard, Not Cleared for
-
Friday Night, Dec. 27 1912.
THE MOVEMENT OF THE CROP,as indicated by our
telegrams from the South to-night, is given below. For the
week ending this evening the total receipts have reached
262,724 bales, against 335,203 bales last week and 380,202
bales the previous week, making the total receipts since
Sept. 1 1912 6,788,756 bales, against 6,993,336 bales for the
same period of 1911, showing a decrease since Sept. 1 1912
of 204,580 bales.
Sat.
Receipts at
-
Mon.
Tues.
Wed.
Thurs.
Galveston
14,889 22,929 33,580 13,045 13,246
6,117
Texas City
717
7,132 3,801
Port Arthur..
Aransas Pass,&c.
New Orleans.. _ _ _ 7,935 9,111 10,618 8,943 1,366
122
592
900
Mobile
480 1,664
Pensacola
Jacksonville, &c_
5,813
6,536 5,161 8,191
Savannah
Brunswick
454
993
500
Charleston
1,311 1,824
1,196
Wilmington _ _ _ _
1,972 1,524 2,831
2,779
Norfolk
3,496 3,355 2,629
N'port News, &c
263
80
New York
415
783
376 1,075
346
828
Boston
Baltimore
125
50
Fri.
Total.
9,527107,216
4,674 22,441
4,388 4,388
6,302 44,275
567. 4,325
533
533
8,515 34,316
2,100 2,100
1,122 6,204
568 8,091
1,188 13,447
7,574 7,574
291 1,049
3,408
3,195 3,195
262
87
Totals this week.. 44,562 50,402 60,835 23,94832,3461 50,631 262,724
The following shows the week's tota 1 receipts, the total
since Sept. 1 1912, and the stocks to-night, compared with
last year:
1912.
Receipts to
December.27.
1911.
This Since Sep This Since Sep
Week. 11912. Week. 11911.
Galveston
Texas City
Port Arthur
Aransas Pass,&c_
New Orleans__ _ _
Gulfport
Mobile
Pensacola
Jackosnville, &c_
Savannah
Brunswick
Charleston
• Georgetown
Wilmington _ _ _ _
Norfolk
N'port News,&c_
New York
Boston
Baltimore
Philadelphia
Stock.
1912.
107,216 2,800,293 101,500 2,236,489 512,701
22,441 518,826 21,989 408,555
56,503
62,996 (14,557 126,307
4,388
58,883
)
342
44,275 912,239 49,720 835,940 228,178
30,186
3,313
41,984
4,325 153,081 13,940 230,564
90,943
85,918
32,395
13,013 2,106
533
1,832
34,216 958,966 54,851 1,559,601 166,294
232,388
2,100 190,200
16,185
6,204 254,687 12,207 298,345
52,430
112
480
8,091 289,897 7,934 354,011
17,003
13,447 362,620 32,407 455,497
73,560
398
49,987
7,574
9,185
7,566 1,294
1,049
3,634 101,340
24,640 2,780
3,408
32,862
7,490
43,712 4,596
56,054
3,195
7,366
1,232
8,512
262
1911.
464,815
98,395
292,900
13,161
91,064
291,098
23,563
41,593
18,471
51,706
184,012
5,264
7,746
3,882
262,724 6,788,756 323,704 6,993,336 1,291,720 1,587,670
Total
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
Receipts at-CltdvTston ___
Texas City,&c
New Orleans_
Mobile
Savannah
Brunswick_ _ _
Charleston,&c
Wilmington
Norfolk
Arport N.Acc.
Alfothers
1912.
1911.
107,216
26,829
44,275
4,325
34,216
2,100
6,204
8,091
13,447
7,574
8,447
101,500
36,546
49,720
13,940
54,851
12,319
7,934
32,407
398
14,087
1910. I
90,455'
2,150
68,636
12,012.
47,7771
9,359,
7,4541
12,3971
25,100
23,3241
1909.
1908.
63,392
99,422
2,481
13,163
37,385
69,137
8,440
4,058
19,617
27,702
450 ' 10,492
4,721
2,236
7,283
7,717
12,345
14,894
1,436
24,251
6,939
1907.
115,993
8,289
107,341
7,105
33,184
23,649
2,826
5,842
17,316
297
18,398
Total this wk. 262,724 323,704 298,664; 170,789 262,772 340,240
ch..... Ogartf 1 n/QQ 7AA A 00n !Anna 00/ AAR a nno 'vii n ons Inca inogna
The exports for the week ending this evening reach a total
of 195,342 bales, of which 62,092 were to Great Britain,
41,485 to France and 91,765 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1912:
Week ending Dec. 27 1912. From Sept. 1 1912 to Dec. 27 1912.
Exported to
Exported to
Exports
from
Galveston Texas City..
Port Arthur
Ar. Pass, Stc
NewOrloans
Mobile
Pensacola....
Savannah.._
Brunswick..
Charicken
Wilmington
_
Norfolk
New York_
Boston
Baltimore....
Philadel'a_
San Fran _ _
Pt.Towns'd
Conti'great
Great
Britain.Prance. neat. Total. Britain. France.
12,124 40,003 52,127 886,410 282,038
-7
16,e 78 ____ 11,609 28,484 296,033 115,931
19,439 16,407
12,859 15,896
125 26,502 399,859 96,587
12,808 13,571
887 36,613 23,411
887
20,228 34,791
7,663
,
16,788 24- 4H 113,571 56,575
79,871
10,858
13,950 24,808 57,404 5,000
10;iLi
10,852 87,554 59,673
500
"aai 331 13,330
6;566 4;65; 3,272 14,516 150,480 32,780
6,697
0,697 85,742
1,850
3,994
23,552
2;ii5i 2,031
3,656 3,656
Continent.
Total.
838,8542,007,302
44,7731 456,737
27,15
62,996
40
29,155
174,123 670,569
17,753 77,777
30,899 85,918
378,589 548.735
78,729 158,600
103,109 165,513
116,008 263,235
42,468 56,298
83,929 267,189
4,481 90,223
26,029 31,873
4,350 27,902
83,617 83,617
33,895 33,895
Total --- 62,092 41,485 91,765 195,3422,286,939 741,439 2,089,1565,117,534
Total 1911. 75,787 57,645 172.748 306,1802,147,416 640,017 2,281,8545,069,287
Note.
-N.Y.exports since Sept. 1 include 16,972 bales Peru. &c., to Liverpool.
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
Dec. 27 at
-
La=. France.
Gei- 4 Other Coast
.
many Foreign wise.
Total.
Leaving
Stock:
New Orleans.. _ 12.974 2,777 7,634 9,420
375 33,180 194,998
Galveston
_ 72,435 32,174 41,608 32,778 10,990 189,985 322,716
Savannah
• 2,300 4,800 161,494
2.500
Charleston _ -- 1,000
1,000
51,430
Mobile
3,964
893 10,290
23,710
3,127 18,274
Norfolk
44,510
29,050 29,050
New York......_
1.000
500
97,740
900 1,200
3,600
Other ports.... _ 12,000 1,500 18,000
83,733
31,500
Total 1912.... 103,373 37,844 80,932 43,398 45,842311,389 980,331
Total 1911 _ _ 112,511 38,717122,036 68.469 16,759358,492 1,229,178
Total 1910..._ 97,299 49,314 49,008 48,299 21,477265,397 890,695
Speculation in cotton for future delivery was on a modest
scale at irregular prices as the Christmas holidays approached, and liquidation for both sides of the account has
alternately moved the market upward or downward. Prices
have latterly declined. Yet, at one time the trend was upward, owing to a disposition to cover shorts on the eve of two
holidays, that of Christmas Day and also Dec. 26 on the
New York, New Orleans and Liverpool exchanges. This
covering was done by Wall Street, the West and the South,
all of which have recently favored the bear side of the market
on the ground that the price was too high and that it discounted anything at all bullish in the situation. But
"short" liquidation has not been the only buying. Spinners
have also been buying both the near and the more distant
months. Well-known spot houses have also bought. Liverpool, Memphis and New Orleans purchased for a time to some
extent. There has been more or less scattered buying by
those who think that cotton should be purchased for long
account. It is an interesting circumstance, too, that the
spot markets have remained almost uniformly firm. Now
and then there may have been an easing of spot quotations
here and there, but taking the South as a whole, the almost
universal testimony is that quotations have been firmly
maintained. December here has sold within one point of
January. Liverpool advices have reported good buying by
American spot interests and also by the Continent. It is
also of interest to observe that the Southern offerings there
have been comparatively small. It is said that mills using
Egyptian cotton have excellent engagements and that a full
consumption in that quarter is assured. Some Liverpool
people express the conviction that the consumption of American cotton in the world this year will be something like
14,500,000 to 14,750,000 bales. Some of the more radical
bulls on this side of the water insist that the world's consumption of the American staple this year is likely to approximate
15,000,000 bales. Some extremists even name higher figures. They are not generally conceded. As regards the
crop, the recent ginning report has undoubtedly led some to
reduce their estimates of the yield, and figures over 14,000,000 bales are not now so often heard as recently, except in
quarters where bearish sentiment is pronounced. If the bullish view be accepted, the crop is somewhere around 13,750,000 to 14,000,000 bales. Some bulls of a radical type even
ask people to believe that the yield is only 13,500,000
bales. At the same time the East Indian crop, according to some reports, is not likely to be as large as it
was last year. Meantime, although there may have been
some slackening of wholesale business in cotton goods, the
condition of the textile industries of this country is very
generally regarded as distinctly prosperous. The retail
holiday trade has been unusually large. As regards the cotton-manufacturing business in Lancashire,• it is stated that
the profits of English mills this year have been 12.70%, as
against 1.06% last year. Yet some very large and influential interests adhere to the bear side of the cotton market.
Briefly they consider the price too high,the crop estimates too
low and the estimates of consumption altogether too large.
They emphasize the fact that tariff revision is not far off and
they think that it is bound to cause some further slowing
down in the cotton-goods business. They also call attention
to the tightness of money, the investigations of corporations
at Washington and the more or less strained situation in
Europe as factors inimical to the present level of prices for
the raw material. Moreover, they believe that if prices
remain on anything like their present plane, there will be a
very large acreage planted this spring. Plowing begins in
January. The South, including Texas, has thus far been.
favored with good winter rains. These are especially favorable in Texas. To-day prices suddenly declined in the afternoon under scattered liquidation and short selling for local,
Wall Street, Waldorf-Astoria and Western account. Spot
cotton closed at 13.10e. for middling uplands, showing no
• change for the week.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Dec. 2110 Dec. 27Middling pulands
Sat. Mon. Tues. Wed. Thurs. Fri.
H. 13.10
13.10 13.10 13.20
H.
NEW YORK QUOTATIONS FOR 32 YEARS.
The
otation for middling upland at New York on
Dec.for each of the past 32 years have been as follows:
v
1912_c
1911
1910
1909
1908
1907
1906
1905
13.10
9.50
14.95
15.75
9.00
11.80
10.55
11.95
1904..c
1903
1902
01
7.35 1896_c
13.70 1895
0 75 1894
8..50
1900
1899
1898
1897
10.31
7,56
5.88
5.94
1892
9
1893
81
1890
1889
7 12
8.25
5.69
7.81
9.88
7.94
9.19
10.25
1888_c
1887
1886
1885
1884
1883
1882
1881
9.75
1119001....34642
086
9.19
10.25
12.00
THE CHRONICLE
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Movement to December 27 1912.1 Movement to December 29 1911. I
AT THE INTERIOR TOWNS the movement-that is,
-The highest, lowest and closing prices at
FUTURES.
the receipts for the week and since Sept. 1, the shipments
New York the past week have been as follows:
for the week and the stocks to-night, and the same items
rd II 21 gl RI II gl 21 II
II for the corresponding period for the 'previous year-is set
c‘i
cNi
ci
csi N
out in detail below.
11
11
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* Last year's figures are for Louisville, Ky.
El
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.
-We give below a statement showing the
since
movement
THE VISIBLE SUPPLY OF COTTON to-night, as made overland telegraphicfor the week andnight. Sept. 1, as made
up
reports Friday
The
up by cable and telegraph, is as follows. Foreign stocks, the from and since Sept. 1 in the last two years areresults for
week
as follows
as well as the afloat, are this week's returns, and conse1912
1911
quently all foreign figures are brought down to Thursday
Since
Since
December 27Sept. 1.
Week.
Sept. 1.
Week.
evening. But to make the total the complete figures for Shipped
Via St. Louis
23,254 261,781
15,210 219,595
to-night (Friday), we add the item of exports from the
Via Cairo
a9,744 a155,199
10,718 133,565
Via Rock Island
8,572
1,546
United States, including in it the exports of Friday only.
757
December 27Stock at Liverpool
Stock at London
Stock at Manchester
1912.
bales.1,240,000
6,000
62,000
Total Great Britain
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stook at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks
1,308,000
9,000
493,000
403,000
2,000
20,000
39,000
966,000
1911.
807,000
3,000
63,000
1910.
1909.
975,000 1,054,000
6,000
6,000
93,000
70,000
873,000 1,074,000 1,130,000
10,000
3,000
4,000
304,000 247,000 274,000
227,000 185,000 467,000
2,000
2.000
3,000
14,000
8,000
. 9,000
35,000
33,000
58,000
2,000
1,000
594,000
478,000
816,000
2,274,000 1,467,000 1,552,000 1,946,000
Total European stocks
36,000 126,000 144,000
India cotton afloat for Europe_ _ _ 60,000
975,100 908,125 882,072 511,852
Amer. cotton afloat for Europe
Egypt,Brazil,&e.,afit.for Europe_
75,000
91,000
79,000
35,000
333,000 237,000 292,000 239,000
Stock in Alexandria
448,000 266,000 323,000 504,000
Stock in Bombay, India
1,291,720 1,587,670 1,156,092 809,671
Stock in U. S. ports
872,772 982,065 863,440 799,068
Stock in U. S. interior towns..
68,200
8,413
89,357
U. S. exports to-day
29,118
6,338,005 5,637,060 5,362,961 5,017,709
Total visible supply
Of the above, totals of American and other descriptions are as follows:
American
Liverpool stock
bales.1,066,000 696,000 852,000 952,000
48,000
35,000
69,000
62,000
Manchester stock
934,000 566,000 448,000 784,000
Continental stock
American afloat for Europe
975,100 908,125 882,072 511,852
U. S. port stocks
1,291,720 1,587,670 1,156,092 809,671
872,772 982,065 863,440 799,068
U. S. interior stocks
29,118
68,200
89,357
U. S. exports to-day
8,413
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., hfloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
5,183,005 4,856,060 4,359,061 3,947,709
174,000
6,000
27,000
32,000
60,000
75,000
333,000
448,000
111,000
3,000
15,000
28,000
30,000
91,000
237,000
266,000
123,000
6,000
24,000
30,000
126,000
79,000
292,000
323,000
102,000
6,000
8,000
32,000
144,000
35,000
239,000
504,000
4,071
5,143
5,148
15,473
46,101
72,124
80,132
163,255
4,54§
3,459
7,098
24,062
64,833
44,272
87,739
146,494
Total gross overland
56,520
Deduct Shipments
Overland to N. Y., Boston,Stc_ 7,914
Between interior towns
7,235
Inland, &c., from South
1,760
723,344
71,965
761,801
77,150
49,407
42,432
8,670
1,246
437
92,550
19,801
16,214
Total to be deducted
16,909
168,989
10,353
128,565
39,611
554,355
61,612
633,236
Leaving total net overland *
* Including movement by rail to Canada. a Revised.
The foregoing shows the week's net overland movement'
lhas been 39,611 bales, against 61,612 bales for the week
ast year, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 78,881 bales.
•
1912
In Sight and Spinners'
Since
Week,
Sept. 1.
Takings.
Receipts at ports to Dec. 27
262,724 6,788,756
554,355
Net overland to Dec 27
39.611
Southern consump'n to Dec. 27 56,000
944,000
1911
Since
Week.
Sept. 1.
323,704 6,993,336
633,236
61,612
798,000
54,000
Total marketed
Interior stocks in excess
439,316 8,424,572
12,065
881,628
Continental imports for the past week have been 156,000
bales.
•go, The above figures for 1912 show an increase over last week
o11124,272 bales, a gain of 700,945 bales over 1911, an excess
of1975,044 bales over 1910 and a gain of 1,320,296 bales over
1909.
358,335 8,287,111
775,736
37,773
Came into sight during week__ -396,108
Total in sight Dec.27
9,062,847
North'n spinn's takings to Dec.27 83,505 1,218,890
451,381
9,306,200
48,692
1,171,928.
Movement into sight in previous years.
Week-Dec.30
1910
1909
-Doc.31
1909
-Jan. 1
Bales.
Since Sept. 1-Dec. 30
392,263 1910
-Dec 31
257,661 1909
--Jan. 1
377,881 1909
Bales.
8,133,925
7,169,456
8,602,528
QUOTATIONS FOR MIDDLING COTTON AT
OTHER MARKETS.
-Below are the closing quotations
of middling cotton at Southern and other principal cotton
markets for each day of the week.
1,155,000 781,000 1,003,000 1,070,000
5,183,005 4,856,060 4,369,961 3,947,709
Total visible supply
6,338,005 5,637,060 5,362.961 5,017,709
7.18d.
8.07d.
8.50d
Middling Upland, Liverpool
5.01d.
.. 13.10c.
9.25c.
Middling Upland, New York
15.00c.
16.10c.
9%d.
113d.
143-d.
Egypt, Good Brown, Liverpool.._ 10.50d.
9.05d.
Peruvian, Rough Good, Liverpool 10.25d.
10d.
9.50d.
6 11-16d. 5 15-16d 7 11-16d. 7 11-16d.
Brooch, Fine, Liverpool
5h d.
6%d.
Tinnovelly, Good, Liverpool
7%d.
7%d.
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, &c
Week ending
Dec. 27.
Galveston
Now Orleans..
Mobile
Savannah
Charleston
Wilmington_ _
Norfolk
Baltimore
Philadelphia _
Augusta
Memphis
St. Louis
Houston
Little Rock..
Closing Quotations for Middling Cotton onSarday, Monday, Tuesday, Wed'day, Thursd'y, Friday
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
13
13.35
13
13%
13%
12%
12%
13
13.35
13
13%
13%
12%
12%
i§-173-16
13
13.45
13
13%
13%
12%
12%
12
12
12
12
1258
12%
12%
12i
125
125
HOLIDAY.
§i3-16
13
13.35
13
13%
13%
12%
12%
175.5
THE CHRONICLE
DEO. 28 1912.1
-There has Veen rain on four days during
-The highest, 1 New Orleans.
NEW ORLEANS OPTION MARKET.
and ninty-four hunlowest and closing quotations for leading/options in the New the week,the rainfall being two inches
Average
Orleans cotton market for the past week have been as follows: dredths. Rock, Ark.thermometer 54. week one inch and
-Rainfall for the
Little
fifty-six hundredths on two days. Average thermometer 40,
,
Sat'day, Monday, Tuesday)Wed'day, Thursd'y,1 Friday,
Dec. 21. Dec. 23. Dec. 24. i Dec. 25. Dec. 26. Dec. 27. h ghest 52, lowest 28.
Savannah, Ga.-We have had rain on four days of the
1
Dec.12.79.-94 week, to the extent of one inch and thirty-seven hundredths.
12.75.-82 12.74-:95 12.95-.00
Range
12.77.-79 The thermometer has averaged 49, the highest being 62 and
12.81-.82 12.94-.95 12.98-.00.
Closing
Jan.I
..
12 72 -89 the lowest 36.
12.71-.76 12.68-.85 12.83-.92
12.72.-73
12.74-.75 12.83-.84 12.90-.911
-We have had one shower during the week,
Madison, Fla.
RangeClosing
?ch.12.75.-93 The thermometer has ranged from 41 to 67, averaging 53.
12.70-.8212.70-.82 12.73-.88 12.86-.95
Range
12.76.-77
-Rain has fallen on four days during the
Charleston, S. C.
12.79-.83 12.87-.88 12.93-.94
laginches and sixteen
12.80.-99 week, the precipitation reaching two
12.77-.87 12.77-.95 12.92-.001
Range
12.85-.86 12.93-.94 12.99-.00 HOLT- HOLT- 12.81.-82 hundredths. The thermometer has ranged from 37 to 60,
Closing
I DAY.
DAY.
July49.
12.87,-06 averaging
12.84-.93 12.84-.00 13.00-.08
Range
-Rainfall for the week, fifty-eight hunCharlotte, N. C.
12.88.-89
12.91-.92 13.00-.01 13.07-.08
Closing
Aug.
dredths of an inch. Average thermometer 43, highest 57,
-0- OP 12.55-.57- @ Range
12.44 -- lowest 29.
12.55 -12.56 -12.63 Closing
Oct.=
Tone
Spot
-"-
- O., -11.85-.94
- 011.8'3 -11.88 -11.89 uie
Qt.
UGelola
Quiet.
•
•
11.75.-87
11.75,-70
Steady.
Steady.
-a,•
kJ am.••••
•
MARKET AND SALES AT NEW YORK.
The 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
on same days.
Futures
Market
Closed.
Spot Market
Closed.
SALES.
Spot. Contr'cl Total.
Very steady_ _ _
Saturday_ _ _ Quiet
Very steady_
Monday _ _ _ Steady
Tuesday --- Steady, 10 pts. adv_ Quiet
HOLIDAY
Wednesday..
HOLIDAY
Thursday _ _
Quiet. 10 pts. dec.. Steady
Friday
1;866 1,866
2,700
2,700
4,2001 4,200
Total
DOMESTIC EXPORTS OF COTTON MANUFAC-We give below a statement showing the exports of
TURES.
domestic cotton manufactures for October and for the ten
months ended Oct. 31 1912, and,for purposes of comparison,
like figures for the corresponding periods of the previous year
are also presented:
Manufactures
of
Cotton Exported.
Month end. Oct. 31. 9 Mos. ending Oct. 31.
1912.
1911.
1912.
1911.
yards 32,828,600 32,789,805 391,891,541 316,805,494
Piece goods
value $2,370,304 $2,166,164 $26,017,482 $22,163,844
Piece goods
119.3761,903,745 1,484,302
172,866
goods.val.
Clothing,&c.,knit
499,937 6,637,388 4,968,902
635,478
Clothing,&c., all other_val.
266,056 3,310,763 2,804,949
367,988
Waste cotton, &c_ __ _value
479,624
504,033
47,989
70,114
value
Yarn
533,544 5,536,734 4,699,777
557,723
vzalue
All other
Total manufact. of_value $4,174,473 $3,633,066 $43,910,145 $36,601,398
-Reports to
WEATHER REPORTS BY TELEGRAPH.
us by telegraph this evening from the South indicate that
rain has been quite general during the week and comparatively heavy in some localities. The rain has interfered to
some extent with the gathering and marketing of the crop.
-Generally wet and cold weather all over
Galveston, Tex.
state of benefit to both quality and quantity of 1913 crop.
Ginnings past several weeks hindered by impassible roads.
Farmers unable to take staple to gins. There has been
rain on four days during the week, the rainfall being four
inches and eighty-eight hundredths. Average thermometer
• 51, highest 63, lowest 39.
-The week's rainfall has been forty-eight
Abilene, Tex.
hundredths of an inch on one day. Minimum temperature
24.
Palestine, Tex.
-There has been rain on four days the past
week, the rainfall being one inch and seventy-three hundredths. Lowest thermometer 30.
-We have had light rain on one day
San Antonio, Tex.
of the week, the rainfall being eight hundredths of an inch.
Lowest thermometer 32.
-There has been rain on two days of the past
Taylor, Tex.
week, the rainfall being thirty-two hundredths of an inch.
Minimum thermometer 30.
Vicksburg,Miss.
-Rain has fallen on four days during the
week, the precipitation reaching three inches and twentyone hundredths. The thermometer has ranged from 34 to
60, averaging 46.
Memphis, Tenn.
-We have had rain on two days of the
week,the rainfall reaching one inch and forty-two hundredths.
The thermometer has ranged from 29 to 52, averaging 39.
-We have had rain on four days during the
Mobile, Ala.
week, the precipitation reaching three inches and thirty
The thermometer has ranged from 38 to 63,
hundredths.
• averaging 51.
-There has been rain on three days the past
Helena, Ark.
week,the rainfall being one inch and ninety-three hundredths.
The thermometer has ranged from 27 to 49, averaging 38.
Selmat Ala.-Rain has fallen on four days during the week,
the precipitation reaching two inches and sixty hundredths.
The thermometer has ranged from 27 to 58, averaging 43.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
1911.
1912.
Week.
Week.
Season.
Season.
6,213.733
3,424,188
Visible supply Dec. 20
1,603,418
2,135,485
Visible supply Sept. 1
396,108 9,062.847 451,381 9,306,200
American in sight to Dec. 27
414,000
81.000
64,000
451.000
Bombay receipts to Dec. 26....
61,000
3,000
67,410
Other India ship'ts to Dec. 26....
552,200
739.000
52.000
40,700
Alexandria receipts to Dec. 25_
119,000
3,000
5.000
109,000
Other supply to Dec. 25*
6,750,841 12,564,742 5,983,269 12,055,818
Total supply
Deduct
Visible supply Dec. 27
6.338,005 6,338,005 5,637,060 5,637,060
412.836 6,226,737 346,209 6,418,758
Total takings to Dec. 27
336.836 5,245,327 282,509 5,302,558
Of which American
56.700 1.116,200
76.000
981,410
Of which other
*Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
INDIA COTTON MOVEMENT FROM ALL PORTS.
The receipts of India cotton at Bombay and the shipments
from all India ports for the week and for the season from
Sept. 1 for three years have been as follows:
1912.
1911.
1010.
Since
Week. Sept. 1.
December 26
Receipts al
Since
Week. Sept. 1.
Sines
Week. Sept. 1.
81,000 451,000 64,000 414,000 93,000 635,000
Bombay
Since September 1.
For the Week.
Exports
from
Japan
& China
Great I ContiGreat Conti- !Japan
'
Britain., nent. &China Total. Britain. nen:.
Bombay
6,0001
..
11112 .......... 6,000
2,000 15,000 17,000;
1911
2
- ,1565 24,000 37,000 63,000'
Imo
Calcutta
1,0001
1912 ____ ______ 1,000
I
I
1911
1,0001
1910 __ ______ 1,000
Madras
I
2,000
1912 ____ ______ 2,000
I
I
1911
1,000
1,000
1910
All others-,
I
1912
1911
1,000
______ 1,000
1910
Total all
9,0001
______ 9,000
1912
2,000 15,000 17,000
1911
1910 ____ 3:000 26,000 37,000 66,000
Total.
150,000
11,000 81,000 58,
170,000
44,
126,
11,0001 235,000 147,000 393,000
2,000,
1,000
2,000
I
4,000
2,000
6,000
6,000
6,000
6,000
6,000
4,000
12,000
40,000
42,0001
34,000
10
8,010
7,000
8,000
12.000
7,000
15,000
8,000
5,000
9,000
1,400
1,000
1,000
47,400
47,000
47,000
23,000 135,000 59,410 217,000
7,000 97,000 127,000 231,000
31,000 284,000 148,000 463,000
-Our report received by
MANCHESTER MARKET.
cable to-night from Manchester states that the market is
firm for both yarns and shirtings. Merchants are buying
very sparingly. We give the prices for to-day below and
leave those for previous weeks of this and last year for
comparison.
1911.
1912.
325 Cop
Twist.
834 tbs. Skirt- Cot'n
ings, common Mid.
Dpr.
to finest.
d.
s. d.
d.s. d.
Nov
8 9% @ 10% 6 134011 3
15 2% 0 10% 6 1%011 3
22 10
@ 11% 6 2 @114
29 10% @ 1.1% 6 3 §11 6
Dec.
6 iO3-i6@113( 6 3 @II 6
13 1034 @ 1134 6 3 @11
20 1034 @ 1134 6 3 @116
27 1034 0 1134 6 3 011 6
328 Cop
831 lbs. Shirt- Cot'n
trigs, common Mid.
to finest.
Uprs
d. s. d.
d. d.
a. d. d.
434@10 4
434@10 4
434 ®10 4
434@iO4
5.25
5.19
5.22
5.08
6.9918 9-16 IS 9 7-16 5 4%010 4
7.06 8%
IS 9% 5 4 @103
7.1118%
IS 9% 5 434010 3
7.18834 IS 934 5•4 @103
5.04
5.02
5 05
5.01
6.79 8%
6.78 8%
6.91 8%
7.09 8%
IS
934 5
934 5
9% 5
9% 5
-As shown on a previous page, the
SHIPPING NEWS.
exports of cotton from the United States the past week have
reached 195,342 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
-Cymric, 4,707 upland,
-To Liverpool-Dec. 23
NEW YORK
6,306
781 Peru; Megantic,818
To Havre-Dec:. 20-Floride, 600 upland, 221 Sea Island_
4,938
Dec. 23-Romera. 3,489 upland, 628 Sea Island
23-Buelow, 2,522
2,522
To Bremen-Dec.
-Manhattan, 600
-Dec. 24
600
To Antwerp
-Perugia, 150
150
To Genoa-Dec. 20
12,124
GALVESTON-To Havre-Dec. 23-Cranley, 12.124
To Bremen-Dec. 20-Parthenia. 15,130_ - _Dec. 21-Elswick
40,003
Manor, 8,480__ _Dec. 23-Luceric, 16,393
-Commodore, 11,528--To Liverpool-Dec. 19
TEXAS CITY
16.87
Dec. 20-Almerian, 5,347
-Saba, 11,609
-Dec. 19
11,60
To Bremen
1756
THE CHRONICLE
Total hales.
NEW ORLEANS
-To Liverpool
-Dec.24-NinIan, 12,806
To Havre-Dec. 20
-Honduras, 5,575_ __Dec. 23- Herakles, 12,806
7,996
13.571
To Hamburg-Dec. 23-Craigforth, 125
125
MOBILE
-To Manchester-Dec. 23-- MeIford Hall, 887
887
SAVANNAH-To Liverpool
-Dec. 26-Roke
7,663
To Bremen-Dec. 21-Tantanon, 5,752_by, 7,663
__Hollington, 6,611- 12,363
To Hamburg
-Dec. 21-Hollington,
475
To Antwerp-Dec. 21-Queenswood, 475
3,200
To Bombay-Dec.26-Rokeby,750 3,200
750
CHARLESTON-To Liverpool
-Dec. 24
-Georg
To Bremen-Dec. 24-Miramichi, 13,950_ e Pyman, 10,858 10,858
13,950
WILMINGTON-To Havre-Dec. 21-Kylestrome,
10,852
10,852
NORFOLK
-To Hamburg
-Barcelona, 331
19
331
BOSTON-To Liverpool -Dec.-Michigan,
-Dec. 18
1,611___Dec. 20Carpathia, 1,586___Devonlan, 2,587
5,784
To Manchester-Dec. 23
-Iberian, 913
913
SAN FRANCISCO-To Japan-Dec. 21-Persia,
2,031
2.031
PORT TOWNSEND-To Japan-Dec. 24
-Mexico Mans, 3,656- :3,656
Total
195,342
LIVERPOOL.
-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that
port:
Dec. 6.
Dec. 13
Dec. 20.
Dec. 27
Sales of the week
bales_
58,000
53,000
55,000
26,000
- Of which speculators took__
4,000
4,000
5,000
1,000
Of which exporters took ___
2,000
2,000
4,000
1,000
Sales, American
50,000
43,000
48,000
21,000
Actual export
14,000
5,000
12,000
8,000
Forwarded
112,000
102,000
106,000
88,000
Total stock-Estimated
1,035,000 1,081,000 1,179,000 1,240,000
Of which American
911,000
933,000 1,016,000 1,066,000
Total imports of the week..
241,000
151,000
214,000
157,000
Of which American
216,000
104,000
176,000
112,000
Amount afloat
619,000
646,000
561,000
489,000
Of which American
422,000
561,000
468,000
423,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Saturday.
Monday.
Market,A fair
12:15 I Quiet.
business
P. M.
doing.
Mid.Upl'
7.09
7.08
Sales
Spec.&exp.
7,000
1,000
Futures. Steady at
Market J 607 pts.
opened I decline,
Market, i Steady at
4
2(43 pts.
11X
do...Una
8,000
1,500
Quiet at
M point
decline,
Tuesday. Wednesday. Thursday.
Good
demand.
Dull.
7.13
7.18
10,000
1,500
4,000
300
Steady at
4 points
advance.
HOUDAY.
HOLIDAY.
Steady at
ant. 63415934
nth
ativ
The prices of futures at Liverpool for each day
below. Prices are on the basis of upland, good
clause, unless otherwise stated.
The prices are given in pence and 100ths.
DAILY CLOSING PRICES OF WHEAT FUTURES
IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
No.2 red
109
109
Holt- 108
108
December delivery in elevatocts_109
r-- 958/ 9534 955-4 day. 958/ 953
/
St'y, 2 pts. May delivery in elevator
9734 9734 9734 '
973. 975
DAILY CLOSING PRICES OF WHEAT FUTURE
dec. to
S IN CHICAGO.
ntg mil,
34u
Sat.
December delivery in elevator_cts_ 8634 Mon. Tues. Wed. Thurs. Fri.
86'/ 868/ Holt- 8616 86
May delivery in
91
9174 9134 day. 9174 9154
are given July delivery in elevator
elevator
88
8834 8834
89
885/a
ordinary
Thus: 6 85 means 6 85-100d.
Dec. 21.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
to
Dec. 27. 1234 1234 123
4 1234 4 1234 4 1234 4 123.4 4
P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m.
d.
d.
d. d. d. d. d. d. d. d. d. d.
Dec6 8534 8334 8134 8934 91
94 9434
Dec.
-Jan_
6 83 8134 7934 8734 8834
9134 91
Jan.
-Feb ____ 6 8154.7934 7754 85 86
8834 8634
Feb.-Mch ____ 6 8034 79 7634 84 85
8734 85
Mch.-Apr ____ 6 7934 78 7534 83 84
HOLIHOLI- 87 84
Apr.
-May ____ 6 7834 77 7434 8134 8234 DAY.
DAY. 8534 8234
May-June ____ 6 77 76 73 8034 81
84 81
June-Jul ____ 6 75 74 71 78% 7934
82 79
July
6 7234 71 6854 75% 7634
79 76
Aug.-Sep
-Aug------ 6 63 6134 5854 6534 6634
6834 65%
Sept.
-Oct. ____ 6 44 43 3934 46 46
49 45%
Oct.
-Nov. ____6 3734 36 3234 39 39
42 37
BREADSTUFFS.
Friday Night, December 27 1912.%
Flour has continued to meet with only a routine demand,
as usual at this time of year. Nor does there seem to be any
great likelihood Of a change for the better in the immediate
future, certainly not until after the turn of the year. Holders believe that supplies in buyers' hands are comparatively
small. But they have believed this for some time, and buyers have continued to purchase only from hand to mouth.
evidently waiting until the outlook for the price of wheat
clears up and that market takes a more decisive trend one
way or the other. The total output last week at Minneapolis, Duluth and Milwaukee was 398,585 bbls., against
403,260 in the previous week and 303,280 last year.
Wheat has been more or less irregular within comparatively narrow limits. At times, however, it has shown unexpected strength, owing to a decrease in the visible supply.
Last week it decreased 84,000 bushels, as against an increase
in the same time last year of close tohalf a million bushels.
Large shipments were made a few days ago from Kansas
City, Omaha and St. Louis for export. Freights by way of
the Gulf advanced early in the week. The world's shipments
for the week were rather smaller than expected. They
reached:only 10,480,000 bushels, against 11,168,000 in
previous week and 10,304,000 for the same week last the
There has been a fair cash demand at the West and year.
less export business, though, to be sure, it has beenmore or
in Manitoba wheat. Liverpool has reported some largely
falling
off in the River Plate offerings and a steady inquiry from the
Continent. It is said that the Canadian crop has
been by
private statisticians estimated at 50,000,000 bushels less
than
the Government figures. In France, too, the offerings
of
native wheat are very moderate, and that countr
y is
buying foreign wheat. The arrivals at Russian ports still
been small. From Hungary there are come complaints have
concerning the condition of new seedings. From time
weather advices from Argentina have been to theto time the
effect
conditions were unsettled. Liverpool people think tha
that
dealers in the United States are beginning to realize
that they
hold the balance of power as regards the surplus.
Russia
and Roumania, it is pointed out, have only a small stock
desirable wheat available for export. It is now evident of
the wet, sunless summer in Europe damaged wheat that
more
generally than was expected, and therefore, it
the quantity of minable wheat will be small. is contended,
The amount
of European native wheat available during the present
and next spring months will, it is argued, be the winter
decidin
factor in fixing international prices. It is further urged g
by
some Liverpool people that five months have elapsed
since
the usual harvest date and still the supply remains generally
inadequate. Stocks everywhere in Europe are,it is stated,
appointingly light Buying by France is considered significdisOn the other hand, the crop movement in this countr ant.
has
been pretty liberal and the export demand has not ybeen
vigorous, notwithstanding the reports of an unsettl
ed and
more or less unsatisfactory condition of things in
regards the Balkan situation. At times Liverpo Europe as
ol has
vanced, on an increased demand, but later on prices adhave receded, owing to lower offers from the River there
and the continued favorable weather conditions in Plate
to say nothing of Argentina. There has been a lack India,
gressive speculation on the bull side. The flour trade of agThe weather in the United Kingdom and German is slow.
favorable. That has also been the case in y has been
Italy. The
world's stocks of Ameriacn wheat
bushels, gainst 117,571,000 bushels are put at 121,520,000
a year ago
000 at this time in 1910. The world's stock ofand 76,519,wheat is stated at 201,520,000 bushels, against all kinds of
a year ago and 186,819,000 at this time in 1910. 202,971,000
so that
seems to be no lack of supplies. To-day prices decline there
d.
Steady at
304 pts.
advance.
Quiet at
3;505
nth
Friday.
[VOL. Lxxxxv.
Indian corn has shown a downward tendency. The cash
demand has been light, the weather has been favorable, the
receipts have shown a tendency to increase despite the reported shortage of cars and the world's shipments have
on a liberal scale. That is to say, the total last week of been
such
shipments was 5,551,000 against 4,795,000 in the previou
s
week and 4,344,000 in the same week last year. The visible
supply of American corn increased last week 1,533,0
against902,000in the same week last year. Liverpool 00 bush.
now and
then has shown rather more firmness,owing to the smallne
of River Plate offerings and some increase in the demand ss
from
Spain for cargoes afloat. But taking the American situation
as
whole, the drift has been towards easier prices. The crop, a
of
course, is the largest on record. Increased receipts are expected in the near future. Still the decline has not been very
marked as available supplies are far from being excessi
ve.
In fact they are only 5,500,000 bushels according to one computation against 6,700,000 a year ago and 6,400,000
at this
time two years ago. To-day prices were easier, owing
to
larger reeipts.
DAILY CLOSING PRICES OF NO.2 MIXED CORN
IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Frt.
Cash corn
cts.nom. nom. nom.
nom.
December delivery in elevator..__..nom. nom. nom. Holt- nom. nom.
day.
nom.
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAG
Sat. Mon. Tues. Wed. Thurs. O.
Fri.
December delivery in elevator_cts. 4834
4834 475-( Hon- 4734 4734
May delivery in elevator
4834 49
4834 day. 4834 4834
July delivery in elevator
4934 4931 4934
4934 49
Oats have also exhibited more or less weakness, partly
sympathy with other grain. There have been rumors in
private settlements of short engagements for December of
livery to the amount of 250,000 bushels, which have leddeto
more or less general selling despite a denial of such
rumors
The crop is known to be the largest on record and sooner .
or
later receipts must materially increase. In fact, the
supply last week increased 402,000 bushels, against visible
a decrease in the same week last year of 226,000 bushels.
Still, it
must be said of oats, as it was of corn, that no
very pronounced weakness has been noticeable, as visible
supplies
are far from being oppressive. They are only
20,400,000
bushels, against 28,450,000 bushels a year ago and
000 at this time in 1910. Still, prices have receded29,400,single day sample quotations in Chicago dropped . On a
3
cents, even though futures on the same say showedM to 4
no conspicuous weakness. To-day prices declined.
DAILY CLOSING PRICES OF OATS IN
NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
Standards
eta. 40
40
Holt- 40
40
40
No.2 white
nom. nom. nom. day. nom. nom.
DAILY CLOSING PRICES OF OATS FUTURE
S IN CHICAGO.
December delivery in elevator_cts_ Sat. Man. Tues. Wed. Thurs. Fri.
333-' 3274 3234 Holl- 3254 3234
May delivery in elevator
3334 3334 33
day. 3234 3234
July delivery in elevator
3334 3388 3334
/
3334 33
Closing prices were as follows:
•••
THE CHRONICLE
DEC. 28 1912.)
1757
FLOUR.
I GRAIN, ETC., PRODUCTION ABROAD.
-The U. S.
Winter, low grades____$3 60@$3 95 Kansas straights,sacks_$4 10 $430
4 10 Department of Agriculture has received the following cable-Winter patents
5 250 5 40 Kansas clears, sacks_ _ _ 4 00
City patents
Winter straights
6 50 gram dated Dec. 21 1912 from the International Institute
4 60® 4 70
6 20
4 05 of Agriculture,
4 250 4 30 Rye flour
3 65
Winter clears
Rome, Italy, regarding crop production in
4 500 4 70 Graham flour
:Spring patents
4 70
4 00
4 30® 4 50 Buckwheat,cwt
2 25 countries specified for 1912:
Spring straights
4 00® 4 20
*Spring clears
Wheat
•
-Germany, 160,227,000; Austria, 69,640,000.
GRAIN.
Rye
-Germany-456,608,000; Austria, 117,114.000.
Oats
Corn, per bushel
-Germany, 586,999,000; Austria, 167.423,000.
-f. o. b.
Wheat, per bushel
Barley-Germany, 159,927,000; Austria, 78,384,000.
No. 2
elevator Nominal
N. Spring, No. 1, new_ _ _$0 97
The production of sugar beets this year is 135.9% of last year's producSteamer
elevator Nominal
N. Spring, No. 2, new....... nom.
No.3
Red winter, No. 2, new.__ 1 08
c.i.f. Nominal tion in the following group of countries: Prussia, Belgium, Bulgaria, Denmark, Spain, France, Italy, Roumania, Russia in Europe, Sweden and
Hard winter, No. 2
995 Rye, per bushel
Canada.
'Oats, per bushel, newNo. 2
Cents.
66M®673
Standards
State & Pennsylvania.._ _ nom. •
40
The statements of the movement of breadstuffs to market
nom Barley
No. 2, white
-Malting
60 ®70
indicated below are prepared by us from figures collected by
No. 3
39@39
AGRICULTURAL DEPARTMENT'S REPORT ON the New York Produce Exchange. The receipts at Western
'CEREAL AND OTHER CROPS.
-The final estimates of lake and river ports for the week ending last Saturday and
the Crop Reporting Board of the Bureau of Statistics, based since August 1 for each of the last three years have been:
.on the reports of the correspondents and agents of the BuWheat.
Rye.
Barley.
Corn,
Oats.
reau, indicate the acreage, production and value (based on Receipts at- Flour.
bbls.1961bs. bush. 60 tbs. bush. 56 lbs. bush. 32 lbs. bush.481bs. bu.56 lbs.
prices paid to farmers on Dec. 1) of important farm crops
81,000
of the United States in 1912, 1911 and 1910 to have been Chicago _ __ 191,000 335,000 3,369,000 2,122,000 879,000 89,000
Milwaukee _
30,000
532,000
130,000
248,000
479,000
Approximately as follows:
Duluth
20,000 1,625,000
36,000
207,000
46,000
Farm Value Dec. 1.
Acreage.
Crops.
Production.
Per Bu.
Total.
0000CA=0=00*CAM00000 000
, ,
111, 1 11 1 , 1M..
111111111'11111
111111111,1,111
888888
111111111111. ,,
4..1..1.•Q
4444=14
888
1>,
irc5 meows:4.z "
1: 4Vit:34 -E1
9--,
,
O' =' 4 tra,' = BSS. Vid 004
d 522. o.
tti 512
UOUPP-P.F-crn000<4.4.4000APIXIC4P44
Bushels.*
Cents.
Acres.
Dollars.
107,083,000 3,124,746,000 48.7 1,520,454,000
105,825,000 2,531,488,000 61.8 1,565,258,000
104,035,000 2,836,260,000 48.0 1,384,817,000
26,571,000 399,919,000 80.9
323,572,000
29,162.000 430,656,000 88.0
379,151,000
382,318,000
27,329,000 434,142,000 88.1
19,243,000 330,348.000 70.1
231,708,000
20,381,000 190,682,000 86.0
163,912,000
18,352,000 200,979,000 88.9
178,733,000
45,814,000 730,267,000 76.0
555,280,000
49,543,000 621,338,000 87.4
543,063,000
45,681,000 635,121,000 88.3
561,051,000
37,917,000 1,418,337,000 31.9
452,469,000
37,763,000 922,298,000 45.0
414,663,000
37,548,000 1,186,341,000 34.4
408,388,000
7,530,000 223,824,000 50.5
112,957,000
7,627,000 160,240,000 86.9
139,182,000
7,743,000 173,832,000 57.8
100,426,000
2,117,000
35,664,000 66.3
23,636,000
33,119,000 83.2
2,127.000
27,557,000
34,897,000 71.5
2,185,000
24,953,000
19,249,000 66.1
12,720,000
841,000
17,549,000 72.6
12,735,000
833,000
17,598,000 66.1
860,000
11,636,000
28,073,000 $1.15
2,851,000
32,202,000
19,370,000 81.82
2,757,000
35,272,000
12,718,000 $2.32
2,467,000
29,472,000
25,054,000 93.5
722,800
23;423,000
22,934,000 79.7
696,300
18,274,000
24,510,000 67.8
722,800
16,624,000
3,711,000 420,647,000 50.5
212,550,000
3,619,000 292,737,000 79.9
233,778,000
3,720,000 349,032,000 55.7
194,566,000
49,530,000 672,691,000 c$11.79 856,695,000
48,240,000 b54,916,000 c$14.29 784,926,000
51,015,000 b69,378,000 c$12.14 842,252,000
1,225,800 d962,855,000 el0.8
104,063,000
e9.4
1,012,800 d905,109,000
85,210,000
1 aaa inn di inn 415.000
ef).3
102.142.000
*Bushels of weight. a Revised; adjusted to Census figures for tame or
cultivated hay for 1909. b Tons (2,000 lbs.). c Per ton. d Pounds.
e Per pound.
EXPORTS OF BREADSTUFFS, PROVISIONS, COTTON AND PETROLEUM.
-The exports of these articles
during the month of November, and the eleven months, for
the past three years have been as follows:
Exports
rom U. S.
1912.
1911.
1910.
November. 11 Months. November. 11 Months. November. 11 Months.
Quantities.
Wheat.bu. 10,570,416 50,766,374
Flour_bbi
1,236,678 9,485,468
2,286,240 28,608,395
949,842 10,140,613
2,482,691 19,264,880
943,176 7,311,950
Wheat* bu 16,135,467 93,450,980
Com_ _bu. 1,016,484 27,015,303
6,560,529 74,254.654
1,299,537 54,814,604
6,726,983 52,168,655
1,834,156 32,163,985
17,151,951 120,466,283
7,860,066 129,069,158
8,501,139 84,332,640
Values.
$
Wh't& 11' 15,979,118 93,899,628
C'rn&meal
789,1971 21,257,908
252,380
Rye
80.7241
Oats&meal 2,848,6401 10,201,639
Barley _ 1.705,3411 3,932,149
6,546,425 74,382,085
1,060,265 33,053,249
1,395
485
174,505 1,732,419
135,342 2,311,308
8,929,113 56,643,771
1,129,980 22,217,358
13,917
98,580 1,235,669
1,252,559 3,862,277
Total bus
Breadstuff 21,403,020129,543,704 7,917,022 111,480,456 9,410,232 83,972,992
Provisions 8,516,913 113,230,805 9,271,116 125,151,738 8,084,960 97,530,257
Cat.&hog
31,672 3,500,771
672,982 13,213,628 1,058,415 7,603,347
Cotton _ _ 109,604,800531,186,831 68,809,687439,778,480 87,513,403427,128,781
Petrol.,&c. 11,706,026 112,217,766 7,893,978 95,997,151 7,270,867 85,498,895
Cot's'd oil. 2,503,938 19,206,447 2,501,756 17,646,130 1,976,162 10,914,469
Minneapolis.
Toledo
Detroit _
Cleveland _
St. Louis_ _ _
Peoria
Kansas City.
Omaha
7,000
5,000
67,000
67,000
4,770,000
24,000
14,000
13,000
678,000
30,000
740,000
283,000
307,000
90,000
114,000
147,000
758,000
493,000
438,000
699,000
Tot. wk. '12
Same wk.'11
Same wk.'10
387,000
298,038
314,923
8,642,000
2,776,359
4,611,648
6,894,000
2,747,055
6,584,460
November 1912.
Wheat,
Bushels.
New York
Baltimore
Philadelphia -Boston
Other Atlantic -.
New Orleans__
Other Gulf
Portland, Ore_ _ _
Puget Sound _ _
San Francisco _ _
Chicago
Other border
Total all
2,791,152
453,478
1,113,188
213,634
2,006,744
1,913,354
642,935
954,150
1
581,681
Flour,
Barrels.
!Eleven Months 1912.!Eleven Months 1911.
Wheat,
Bushels.
Flour,
Barrels.
1Vheat,
Bushels.
Flour,
Barrels.
406,299 14,562,685 3,178,718 7,173,948 3,277,666
133,845 3,083,136
507,668 5,282,748
914,539
1.68,428 4,714,613
747,320 2,729,530 907,018
11,654
66,633 1,260,150
734,298
368,392
26,849
12,698
160,588
112,287
237,419
108,345 6,026,448
562,340 568,618
642,303
79,982 7,039,696
393,427 825,725
770,602
60,675 5,238,130
633,856 6,244,833
686,077
210,648 4,323,707 2,405,392 2,870,087 1,867,356
25,410
27,341
364,440 674,28
271,449
500 581,I I I
17,288
22,441
879,700
58,924
4,043 4,422,613
370,486
120,228
10,570,416 1,236,678 50,766,374 9,485,46828,608,395 10,140,613
1,000
53,000
88,000
1.000
1,000
8,000
4,360,000 2,682,000
2,684,593
974,052
4,616,869 2,137,069
330,000
134,575
145,940
Total receipts of flour and grain at the seaboard ports for
the week ended Dec. 21 1912 follow:
Flour,
Wheat,
Receipts at
-bbls.
bush.
New York
229,000 1,057,000
Boston
47,000
536,000
Portland, Me_ _ _ _
509,000
6,000
Philadelphia
_
87,000
674,000
Baltimore
56,000
741,000
New Orleans *_ _ _
324,000
28,000
Newport News_ _
11,000
Galveston
186,000
Mobile
25,000
21,000
Montreal
5,000
21,000
St. John
340,000
17,000
Port Arthur
234,000
Corn,
bush.
141,000
20,000
62,000
497,000
179,000
103,000
12,000
40,000
Oats, Barley,
bush.
bush.
302,000 122,000
163,000 139,000
181,000
290,000
418,000 26,000
90,000
800,000
3,000
20,000
1,000
7,000
Rye,
bush.
16,000
24,000
39,000
2,000
Total week 1912_
511,000 4,643,000 1,054,000 2,093,000 469,000 81,000
Since Jan. 1 1912_18,243,024 52,746,083 34,071,295 20,497,034 8795,046 1087,183
Week 1911
312,490 1,972,574 2,080,315
754,264 109,559
8,001
Since Jan. 1 1011_18,888,600 95,670,952 65,947,606 46,452,409 4984,622 1024,025
The exports from the several seaboard ports for the week
ending Dec. 21 are shown in the annexed statement:
Exports fromNew York
Portland, Me_ _ _ _
Boston
•
Philadelphia ..___
Baltimore
New Orleans_ _ _ _
Newport News _
Galveston
Mobile
St. John, N.B._ _
Port Arthur
Wheal,
bush,
798,267
509,000
515,327
536,000
699,876
200,000
216,000
21,000
340.000
234,315
Corn, Flour,
Rye, Barlett,
Oats,
bbls,
bush.
bush,
bush,
bush.
23,210 77,095
29,785
144,180
6,000
181,000
150 14,203 149,394 35,427 47,104
43,000
30,000
69,618 56,417 1,043,777
15,000 34,000
2,000
103,000 11,000 800,000
40,000 25,000
17,000
Peas,
bush.
7,153
20,000
Total week.._ _4,069,785 250,978 283,715 2,044,956 35,427 402,284
Week 1911
1,750,823 1,129,698 167,338
23,449
7,153
3,351
The destination of these exports for the week and since
July 1 1912 is as follows:
Flour
Wheat
-CornSince
Since
Since
July 1
Week
Week
July 1
Week
July 1
Exportsfor welt and Dec. 21.
1912.
Dec. 21.
1912.
Dec. 21.
1912.
since July 1 tobush,
bbls.
bbls.
bush,
bush.
bush
United Kingdom.. ..135,162 2,410,752 2,020,107 40,948,281
103,000
590,633
Continent
52,989 966,065 1,769,878 39,528,896
78,218
161,544
Sou. & Cent. Amer.. 31,137 594,663
14,400
519,990
4,400
322,766
West Indies
61,905 919,330
21,000
93,235
65,118
810,067
Brit. Nor. Am. Cols. 2,522
57,644
150
42,874
Other Countries..._ _
155,589 244,400 1,499,020
92
35,466
Total
Total 1911
283,715 5,104,043 4,069,785 82,589,422 250,978 1,963,350
167,338 4,896,388 1,750,823 47,233,284 1,129,698 12,309,223
The world's shipments of wheat and corn for the week
ending Dec.21 1912 and since July 1 1912 and 1911 are shown
in the following:
Wheat.
Corn.
1912.
Exports.
Ports.
114,000
Since Aug. 1
1912
7,763,520 215,681,966 70,672,328 118,632,688 51,488,336 10331 642
1911
4,703,204 125,993,826 72,171,665 70,793,382,43,766,201 5,211,335
1910
7.555.369 137.190.643 79.819.301 98.217.121138.618.365 3.089.300
Total _ 153,766,369 908,886,324 97,066,541 803,267,583 115,314,039712,648,741
EXPORTS OF WHEAT AND FLOUR FROM UNITED
STATES PORTS.
-We give below a compilation showing
the exports of wheat and flour from United States ports
during the month of November and the eleven months of the
calendar years 1911 and 1912:
922,000
510,000
78,000
80,000
105,000
498,000
269,000
91,000
313,000
IVeek.
Dec. 21.
1911.
Since.
July 1.
Bushels.
Bushels.
North Amer.6,704,000 125,042,000
1,416,600 66,363,000
Russia
Danube ___ _ 960,000 34,823,000
Argentina _ _ 184,000 32,218,000
184,000 10,672,000
Australia _ _ _
968,000 37,884,000
India
64,000 3,918,000
0th. countr's
Since.
July 1.
1912.
Week.
Dec. 21.
i
Since
July 1.
1911.
Since
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
88,836,000 357,000 1,226,000 10,831,000
50,626,000 145,000 5,921,000 21,512,000
45,201,000 221,000 9,280,000 37,639,000
21,712,000 4,828,000 144,279,000
60,000
22,820,000
22,570,000
5.571,000
Total ---- 10480,000 310,900,000 257,336,000 5,551,000 160,706,000 70,042,000
The quantity of wheat and corn afloat for Europe on dates
mentioned were as follows:
Wheat.
unuea
Kingdom, Continent.
Dec. 21 1912_
Dec. 14 1912__
Dec. 23 1911_
Dec. 24 1910....
Corn.
Total.
United
1Kingdom. Continent.
Bushels.
Bushels, Bushels. I
15,464,000 13,880,000 29,344,000,
16,656,000 14,608,000 31,264,000
17,920,000 11,368,000 29,288,000
14,808,000 17.224.000 32.032.000
Total.
Bushels,
Bushels.
Bushels.
8,500,000 17,731,000 26,231,000
8,934,000 17,340,000 26,274,000
3,392,000 6,707,000 10,099,000
7.139.000 13.557.000 20.696.000
THE CHRONICLE
1758
[VOL. Lxxxxv.
.iLiNi. -"-
g_,....ICI50, 1."LI
t- gici4'4
3,
,. 1 .....wo.
,........,
139,427,117
The visible supply of grain, comprising the stocks in
The value of these New York exports since Jan. 1
granary at principal points of accumulation at lake and $25,596,369 in 1912, against $24,789,749 in 1911. has been
seaboard ports Dec. 21 1912, was as follows:
As a result of the holiday, domestic cotton markets conUNITED STATES GRAIN STOCKS.
tinued to rule quiet during the past week. The general underAmer.Bonded. Anier. Amer.Bonded. Amer. Amer.Bonded
Wheat. Wheat. Corn. Oats. Oats.
Rye. Barley. Barley. tone, however, has been firm, as mills are well sold for the
bush. bush. bush. bush. bush. bush. bush. bush
In Thousands- .
next two or three months and selling agents have only a
2,673
921
284 1,523
York
New
63
534
132
31
limited amount of goods to offer. An encouraging feature
40
afloat
"
38 '&56 --ii --ii ---i ---5 --ii --ii in the situation is the good mail-order business which is
Boston
139
Philadelphia
864
44
65 ---coming to hand, accompanied by reports of expanding trade
Baltimore
864
868
503
832 ___
-148 -iii
1,493 ____
New Orleans
326
138
in the country and advices that holiday stocks in jobbers'
Galveston
524
52
hands have been cleaned up better this season than for some
Buffalo
3,779 1,65:1
62 -iii -aii -565
afloat
8,922 1,832
455 time past. Colored cottons are in demand from manufacToledo
1,688
--iio "iii :::: ---i
turing trades and orders booked include deliveries as far
Detroit
430 -ii5
60
120
60 ---54
ahead as first quarter of the new year. Sheetings, both
afloat
256 -__
---Chicago
8,468 ---- 1"iii
____
,iii 1-,i55
brown and bleached, rule firm, with demand in excess of
Milwaukee
144
111
234
80 ---the supply . Ginghams are also in more active request and
Duluth
4,350 -458
335
96
"
afloat
942
according to some reports business for prompt delivery is
Minneapolis
16,447
709
- --bi
being refused. Duck is in a strong position, as there is
St. Louis
3,622
90
171
Kansas City
61
5,041
65
----* a ready demand for all offerings of anything in the way of
Peoria
166
7
288
average quality._ _Buyers are also pressing hard for deliveries,
Indianapolis
321
221
306
the backwardness of which is partly due to traffic congestion,
1,143
317
Omaha
697
on railroad lines._ _Napped cottons are receiving consider514 1,782 3,065 1,056
Total Dec. 21 1912__61,314 6,614 3,790 8,074
376 able attention and a number of houses are under order for
205 1,921 3,611
Total Dec. 14 1912_61,397 6,127 2,444 9,235
____ 1,442 3,982
Total Dec. 23 1911.._71,668
4,965 19,494
fall delivery three to four weeks earlier than usual. As
478 1,555
__-_
Total Dec. 24 1910_A3,929
3,300 16,129
regards wash goods an active trade is looked for after the
CANADIAN GRAIN STOCKS.
Bonded
Canadian
Bonded turn of the year. Paint cloths have been quiet with business
Canadian
Canadian Bonded
Rye, Barley. Barley. confined
Oats. Oats.
Wheat. Wheat. Corn.
for the most part to small lots. Buyers have been
In Thousandsbus., bush. bush. bush. bush. bush, bush. bush.
unsuccessful in their efforts to make purchases at concessions.
Montreal
46
5 1,495
554
__
2,158
Ft.WilliamdcPt.Arthur. 7,462
__
Gray goods, 383' inch standard, are quoted at 53 to 5M.
4
3,712
Other Canadian
9,377
___WOOLEN GOODS
-While deliveries of men's wear and
48
Total Dec. 21 1912__17.393
5 7,365
dress goods continue large, a falling off in new business has
43
2 6,458
Total Dec. 14 1912...A2,543
been noted. The threatened labor difficulties are causing
112
Total Dec. 23 1911_11,860
8 4,691
97
Total Dec. 24 1910...10,638
considerable uneasiness among manufacturers,as many,while
7 1,251
SUMMARY.
having a satisfactory business booked,claim that a good part
Bonded
Bonded
Bonded
Rye. Barley. Barley. of it would not be profitable if they had to pay higher wages.
Wheat. Wheat. Corn. Oats. Oats.
bush. bush, bush. bush Inquiries are reported for goods for fall 1913 delivery and a
In Thousands
bush, hush, bush. bush.
514 1,782 3,065 1,056
American
61,314 0,614 3,790 8,074
number of good-sized orders have been placed.
5 7,365 ____
Canadian
17,393 ____
41
FOREIGN DRY GOODS-Business in the market for
514 1,782 3,111 1,056 linens has
Total Dec. 21 1912_78,707 6,614 3,795 15,439
kept up fairly well during the past week and prices
205 1,921 3,654
Total Dec. 14 191273,945 6,127 2,446 15,693
376
firm. In several instances buyers have requested, until the
1,442 4,094
Total Dec. 23 1911__83,528
4,973 24,185
Total Dec. 24 1910.._54,567
3,307 17,380 ____
478 1,652
last moment, the delivery of goods which could be made in
time for the holiday trade. Prompt shipment of spring
goods is also requested and importers have been busily
THE DRY GOODS TRADE.
occupied in this direction. Owing to the increasing demand
from all quarters,goods in many instances will be acceptable
New York, Friday Night, December 27 1912.
Broken by the holiday, the week in dry goods has been a before the contract date if such shipments can be made.
quiet one, many buyers leaving the market not to return As regards goods for fall delivery a good business is also
until after the new year. The trade, however, will enter being placed. Year-end quietness has prevailed in the marthe new year under very favorable circumstances, and after ket for burlaps and as a result there has been little feature
the customary inventories are taken,it is expected that there during the past week. Lightweights are quoted at 6.60e.
will be a period of renewed activity,as stocks will unquestion- and heavyweights at 8.70c.
ably be found to be low at all points. The raw material Importations & Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
situation is the controlling feature of the cotton goods market,
with buyers beginning to realize that there is little prospect at this port for the week ending Dec. 21 1912 and since
of any lowering of values in the immediate future. Manu- Jan. 1 1912, and for the corresponding periods of last year
facturers are so well sold up as to be unable to accept much were as follows:
OMC..NM
further business for near-by account, and are indifferent to
r.co.
offers of business running further ahead. The advance in •••. 5 , a;t. to
• •••.,:4
cci co Om cyi ,
c:cA
cl ,t. m v. ci ‘ cl cc
3i
.
t".NO.)-i t...11
prices for the staple has kept them from covering requirecil'tal'ocr).
c
"'t cn ".'t S":
"
"
c*
.1
cl"
M.M.iM CO.
64
ments to any great extent and as a result they are not anxious " 1 cn cIlo6.cal"
Vi. Vi.)M t-.
,
•
.-4
V03,-1.
,i
N.
N.
.
••4
to enter into contracts for future delivery. There has been Z g
.0M."Jet. N.
NON0C0
staple cottons, with buyers -4 4
a further stiffening of prices on all
8
making numerous inquiries regard, 4P.
v.cst-.1-7.t 01,
,..,
c' 1.0-t •41c
,,
looking further ahead and
,
,.; cc>06c40;c4
cocn
'rico c:7) ri. coci cc;
.-•
first quarter of the coming 5
•4c.3"'ruct."" cm t-4
m
ing prices for delivery during the
,.
,-. sc
-.
13. ' m ,-. t- co •1
6 ''‘''' "'c ),-, c•I 14 c.0
year. Print cloths are quiet and firm, little business being
wo 00 2
c4c4cot,m 0
interception of the holidays. Busput through, owing to the
a., c, g
Nt.NIN.M
.
g!'" 0.)
cc
c1.0 ,.. cA
.
v:
iness in export circles is also quiet, the high prices having -cc,qc
No;
C14
N0 N
38
greatly restricted foreign demand. Reports from China Wil°4enn-128g4
'at
,
.
indicate that conditions there are on the mend, however, Zca
01
N M
ci cc
"
and a better business is looked for from that quarter after Cnt
COMLOWC.. ION
MW MN 01
ci
.CTIMt•CI
,
the first of the year. Manufacturers of cotton knit goods al;gc4
cc
vico...ecs
'a 00 tr= cc
report an active demand tor fall of 1913, and have already
mm cc
cc
m.osier. cc
gk
:
' 1CI
4
,
percentage of their product as to be considersold so large a
mm
cc
MM
another advance in prices. A further stiffening of prices • ci
ing
CC.
0.1
on cotton yarns, together with the pronounced shortage of
cccc,4
OM
ccm
spot supplies of the same, is causing knit goods manufac- •'g.tzcio%;c1 2
.4 1; :n883
turers considerable anxiety. The firm stand of spinners has • .> ci
00
00
ci 0
MN
NN
n'caci-'ci
compelled yarn buyers to come into the market for their E.
WO to
requirements at full asking prices. In dress goods there is 0
.,CANCALt3 0
0.1cmcou, oo C'
.00
00M0000 09
. oco oloc,
71.04, .00ulcg 01
M cC, It 'a in .0
ccc cc
,
I
,
comcA .
.
a fair business still being put through for spring, while interest
•.qto
uir-oicicocacc; cc
cn . .()O 06 1 ci,
o cei a;e-: . .
in the opening lines for fall of 1913 is quite active. The
N. cc
mm.r..o.o.
-cc coca 1 N.
N.)
.
r.
looked-for cancellations against the heavy initial buying 0
coca
cc
of spring serges has failed to materialize, and,on the contrary,
3V132 0101
01
jobbers and cutters-up are urgently calling for the prompt
cc
shipment of all their orders.
•1•
.N
DOMESTIC COTTON GOODS.
-The exports of cotton
ci
01
goods from this port for the week ending Dec. 21 were 10,482
cc
C0.000
GO CO CI 00 La cc
010 1 M.,
,
•
packages, valued at $726,355, their destination being to the
`g`,13:Z32
Pcoo
14
0 0
. .
points specified in the tables below:
0
cn
NO
NO .
, 4
1.4
I2R
N
r.02 et
149,370,386
1912
Since
Week. Jan. 1.
New York to Dec. 2126
Great Britain
3,858
Other Europe
4
1,872
Chins_..
-58,531
1.
India
28,560
1,040
Arabia
49,276
Africa
_1,078
28,333
West Indies
1,568
45.580
Mexico
97
3,484
Central America
379
20,132
1,288
South America
70,371
3,372
Other countries
73,043
Total
10,482
383,040
-----1911
Since
Week. Jan. 1.
1,094
45
1,468
26
2,782 105,640
24,372
472
26.956
2.678
13,064
248
43,892
1,021
2.666
100
19.717
256
57,448
903
45,666
2,694
11,225
341.883
El
El
a
•
•
40812mg-
gc.".3E-dra
150.639.636
gR
11,756 3,196,419
t". C4
,4
410
THE CHRONICLE
-DEc. 28 1912.]
1759
stockholderlin addition to having originally paid the par value therefor.
Carried-82,981 "for" to 21,738 'against.
An Act vesting the Railroad Commission with power and jurisdiction to
STriTit
supervise and regulate every public service corporation and utility in the
State of Oregon, as to the adequacy of the service rendered and facilities
provided, the fairness of rates, tolls and charges to be collected from the
public therefor, and also as to interchange of business between such public
the bill being to
Submission of Constitutional service corporations and utilities, the purpose ofcorporations and give th
-Court Ruling on
Arkansas.
utilltie
control
of the Attorney-General that Commission supervisoryhas to doover all such
-The contention
Amendments.
with the general public. Carried-65.as far as their business
amendments can be submitted to 985 for to 40,956 "against."
only three constitutional
A bill for an Act to create out of the eastern part of Clackamas County
the voters at any one election was sustained by the State a new county to be called Cascade County, providing for its organization,
opinion handed down Dec. 23, invali- fixing the salaries of its officers, transcribing and transferring records from
Supreme Court in an
of settling finances between
dating two of the five amendments submitted on Sept. 9. the old to the new county and providinF a mode 71,239 'against.
the two counties. Defeated-26,463 'for" to
A bill for an Act creating a single Board of Regents for the University of
The amendments declared void permitted cities and towns
funds for their support
Oregon and the State Agricultural College;
having a population of over 1,000 to issue bonds for munici- by making an annual levy of six-tenths of a creatingthe dollar on all taxable
mill on
annual appropal improvements and provided for the recall of all elective property within the State and repealing all other continuing Lord's Oregon
priations for the two schools, and Sections 4283
public officers. See V. 95, p. 1068. Both received a major- Laws, creating the Board of Higher Curricula. to 4293,
Defeated-48,701 "for"
ity of the votes cast on those particular propositions but to 57,279 "against."
For the
not a majority of all the votes cast at the election. This Oregon so amending of Sec. 1, Art. IV., of the constitution of the State of
as to require a majority vote of all electors voting at any election
point was also in dispute but was not passed upon by the to adopt constitutional amendment and pass initiative measures, and a
majority vote only of electors voting thereon to reject measures referred
Court.
the people. Defeated-35,721 "for" to 68,861 "against."
-Montana Water Co. Refuses City's Offer toA bill for an Act authorizing any county in this State to issue bonds for
Billings, Mont.
mode
the the construction of permanent roads, providing acounty of procedure by
-The offer of the city of Billings to purchase
to Purchase.
to vote whether
which a special election may be called within the
plant of the Montana Water Co. for $265,000 has been re- bonds shall be issued and providing for the sale of bonds and the expendi,
therefrom in actual road construction. Destated ture of the money
jected, according to a local newspaper. It is further
-49,699 "for' to 56,713 "against.'
that the city intends to hold a special election in April to feated for an Act to create a State Highway Department authorizing the
A bill
an annual salary of
Governor to appoint
vote on the Issuance of $600,000 bonds for the construction $3,600; providing his a State Highway Engineer at appropriation of not
duties and making an annual
of a municipal plant.
to exceed $12,000 for the maintenance of the department, including the
Champaign, Champaign County, 111.-Election on Com- salary of the engineer and his assistants. Defeated-23,872 "for" to 83.'against."
-An election will be held Jan. 21 846 bill to put Chap. 266, Laws of 1911, into effect Dec. 1 1912 instead of
mission Form of Government.
A
Jan. 1 1915, which
1913, it is stated, to vote on the question of establishing the ernor, Secretary of chapter creates State Printing Board consisting of GovState and State Treasurer, fixes salary of State Printer
commission form of government.
at $4,000, Secretary of the Board at $2,000, with no other compensations,
provides for purchase of State printing plant, makes appropriations there-Condemnation Board Fixes Value for, authorizes printing department to do binding, ruling, &c., and requires
Des Moines, Iowa.
-The Condemnation Board, composed of printer to contract in name of State for all printing employees, Secretary of
of Water Plant.
Board to prescribe style,
Judges Charles E. Rangier, R. M. Wright and F. R. Gay- "for" to 69,542 "against."manner and materials used. Defeated-34,793
nor, have submitted a report fixing the value of the property
A bill for an Act creating the office of Hotel Inspector, prescribing his
duties, appropriating $7,000 per annum for salary and traveling expenses
of the Des Moines Water Co. as of April 1 1912 at $2,302,- of the Inspectors, defining hotels and providing for their inspection and regu522. See V. 95, p. 1485.
lation. Defeated-16,910 "for" to 91,995 "against."
A bill for an Act making eight hours day's labor or
-Commission Form of Government for the State, county, school district,amunicipalityin all cases where labor
Lake Charles, La.
other sub-divisions
-The election held Dec. 17 resulted in the adoption of the State are interested, either directly or through any contractors or
Adopted.
among
agents, and providing that contractors shall give a bond,public work more
of the commission form of government(V.95, p. 1633). The other things, that no person shall be employed on such providing,
shall
vote, it is stated, was 581 to 57.
than eight hours in any one day and that no liens or claims"for" be filed
to 48,against the building or other structure. Carried-64,508
-A special 078 "against."
-Annexation Election.
Oakland-Topeka, Kan.
and providing
A bill for an Act to protect purchasers of stocks and bondsor negotiating
will be held in Oakland on Jan. 17 1913 to vote on
election
selling
for the regulation and supervision of corporations requiring State license
the question of annexing to the city of Topeka.
for the sale of corporate stocks and securities, and
Cetone Sentenced for Bribery.-State Sen- prior to any sales or negotiations therefor; establishing a separate corpora-Senator
Ohio.
at
tion department, fixing the annual salary of the commissioner thereof
ator George K. Cetone of Montgomery County, found guilty $3,000 and restricting tiro expenses of the department. Defeated-48,765
'
accepting a bribe of $200 for his favorable vote 'for" to 57,293 "against.
on Dec. 4 of
prohibiting the employment of convicts of the State
A bill for
on the Cetone-Whittemore Insurance bill (V. 95, p. 1633), penitentiary an Act private person, firm or corporation and authorizing
by any
the request of the
on Dec. 24 by Common Pleas Judge Marcus their use on public highways and State institutions on desiring to employ
was sentenced
of the State institution
G. Evans to serve three years in the Ohio penitentiary. A. County Court or Superintendent 37,492 "against.'
them. Carried-73,800 "for' to
A bill for an Act prohibiting the employment of county, city or town
twenty days' stay of execution was granted, and it is anprivate firm, person or corporation and providing for their
nounced that during this time an appeal will be taken to convicts by any public highways and other works of a public nature,and auemployment on
thorizing county courts to prescribe rules and regulations in regard to such
the Circuit Court.
"against.'
- employment. Carried-71,367 "for" to 37,731 authorizing it to issue and
Perris Irrigation District, Riverside County, Cal.
A. bill for an'Act creating a State Road Board
30 years from date of issue, for building public
-The U. S. District Court on sell State bonds, payable in
Judgments against District.
not to exceed S1,000,000 per year, creating the office of State HighDec. 17 rendered judgments against the district and in favor roadsCommissioner, fixing the salary at $3,600 per annum, providing for
way
the funds raised in the building of public roads, and after
of Conrad Escher and Louis Rahn for $210,795 44. The the expenditure ofa sinking fund for the payment of the principal and interyears creating
district, according to a Los Angeles newspaper, was organ- ten of said bonds. Defeated-30,897 "for" to 75,590 "against.
est
ized March 7 1887 and the suits were to recover money apFor amendment of Sec. 7, Art. XI., of the Oregon Constitution profor road building in
hlbiting
plied toward a part of an issue of $442,000 bonds made in excess ofthe State from increasing its indebtednessCarried-59,452 "for"
0
27 of the taxable property of the State.
1891 and which has long been in default.
to 43,447 'against.'
the respective counties of the State of OreAct
A bill for
-The Cincinnati "Enquirer- gon to issue an -yearauthorizingbuilding roads within the county, providing
-Litigation.
Pomeroy, Ohio.
bonds for
20
the money
Sun" says that on Dec. 18 the city of Pomeroy filed its a method for expendingelections to in actual road construction and for callvote upon question of issuing bonds and
appeal in the United States Circuit Court of Appeals in the ing and holding county
authorizing county courts to levy taxes to pay principal and interest on
"for" to 60,210 "against."
mature.
case instituted against it in the United States District Court bonds as they mayof Sec. 10, Defeated-43,611Constitution of Oregon proArt. XI., of the
For amendment
at Columbus by Francis B. Bowen of New York, to recover hibiting counties from voting any indebtedness for roads in excess of 2%
$2,100 alleged to be due as interest on bonds issued by the of assessed valuation of all property in the county. Carried-57,258 "for"
43,858 "against.
city in 1894. Mr. Bowen was awarded judgment in full by to A bill for an Act providing for the consolidation ofcontiguous incorporated
the lower court (V. 90, p. 864).
cities and towns, legalizing consolidations heretofore attempted and providing a method for the creation and organization of new counties. De-Vote on Measures Submitted at General Election. feated-40,199 "for" to 56,992 "against
Oregon.
Nov. 29 of the vote cast Nov.5
For amendment to Art. IX. of the Oregon Constitution by inserting
-The official canvass made
for the taxation of incomes from whatever source
on the various measures submitted on that day (see "Chron- therein a section providing
or sources derived. Defeated-52,702 "for" to 52,948 "against." Oregon
the following results:
A bill for an Act amending sub-division 8 of Sec. 3554 of Lord's
icle" of Oct. 26, page 1144) shows
taxation all household furniture, domestic fixLaws
Equal suffrage amendment, extending the right of suffrage to women. tures,so as to exempt from effects actually in use in homes and dwellings.
household goods and
Carried-61,265 "for" to 57,104 "against."
watches, jewelry and similar personal effects acapparel,
For constitutional amendment of Sec. 8, Art. V., for the purpose of cre- and all wearing Carried-60,357 "for" to 51,826 "against.
'
ating the office of Lieutenant-Governor, who shall act as Governor in case tually in use. Act to exempt from taxation all debts of every kind whether
A bill for an
of the inability of the Governor to perform his duties and also act as Pros mortgage, bond or otherwise, either within or without
dent of the Senate, and providing for the President pro tern. of the Senate on contract, note,stocks and securities, bonds, warrants and moneys due
public
this
to act as Governor in case of the inability of both the Governor and Lieu- fromState;
this State, or any county or other municipal sub-division; stocks and
-Governor, and in case of the inability of the Governor, Lieutenant
tenant
"against.'
unincorporated companies, except bank stocks,
,
Presidentpro tem. of the Senate, the Speaker of the House shares in incorporated or
Governor and
shares and banking capital. Defeated-42,491 "for" to 66,540 changes,
to act as Governor. Defeated-50.562 'for" to 61,644 'against.
revising the inheritance tax laws, among other
A. bill for an Act
For an amendment of'Sec. 1, Art. IX., of the Oregon constitution, proslightly increasing same, placing administrative matviding for a uniform rule of taxation, except on property specifically taxed, re-classifying rates, with the State Tax Commission, butleaving collections
providing for the levy and collection of taxes for State purposes and for ters relative thereto State Treasurer. Defeated-38,609 "for" to 63,839
county and other municipal purposes upon different classes of property, to be made by the
and for the ascertainment, determination and application of an average "against."
than carA bill for an Act fixing the percentage that freight rates on lessand maxirate of levy and taxation on property taxed for State purposes, and for
bear to car loads and to establish minimum weights
apportioning State taxes among the several counties as county obligations load lots shall and providing penalties for violations of the Act. Carried
mum freights
by reasonable and equitable rules. Defeated-51,852 "for" to 56,671
58,306 "for" to 45,534 "against."
"against."
For amendment of Sec. 10 of Art. XI. of the Constitution of the State
For an amendment of Sec. 32, Art. I.Oregon constitution, for the purcourt of any county to issue and sell bonds or
pose of permitting taxes to be levied up'on different classes a property at of Oregon empowering the maintain roads within the county when authorand
different rates, but providing that taxation must be uniform upon each other securities to build voters of the county, and empowering the county
majority of the
separate class within the territorial limits of the authority levying the tax, ized by apresent the question at any general election, or to call a special
and shall be levied and collected for public purposes only, and the power court tofor such purposes and repealing all constitutional amendments and
of taxation must never be surrendered, suspended or contracted away. election conflict with the proposed amendment, including those submitted
Acts in
Defeated-52,045 "for" to 54.438 "against.
the people at this election. Defeated-38,568 "for" to 63,481 "against."
For constitutional amendment to repeal all of Sec. la of Art. IX. except to For amendment of Art. IV. of the Constitution of Oregon abolishing the
that part prohibiting poll and head taxes in Oregon, and instead of the porcounted on initiative
provision prohibiting the declaration of an emergency State Senate; providing none but registered voters be referendum powers;
tions repealed to add a
in any Act passed by the Legislature regulating taxation and exemptions. or referendum petitions; increasing State and municipal
,
House of Representatives to consist of 60 elective members, and the GoverCarried-63,881 "for to 47,150 "against.'
to be ex officio members;
For amendment of Sec. 1 of Art. XVII. of the constitution so as to re- nor and unsuccessful party candidates for Governor
bills, legislature not to increase
quire for the adoption of any proposed constitutional amendment a ma- Governor to introduce all appropriation
proportional election
terms,
jority vote of all the electors voting at such election instead of a majority the amounts thereof, four-year voting annual sessions;
on bills, and those introducediafter
of those voting on the amendment only. Defeated-32,934 "for" to of members; proxy system of
,
session; control and revocation of franchises.
20 days to go to the next
'
70,_325 "against.
"against."
For constitutional amendment of Sec. 3, Art. XI. of the constitution, Defeated-31,020 "for" to 71,183 IX., of the constitution of Oregon proFor amendment of Sec. 2, Art.
making stockholders in banking corporations liable €o pay for the benefit
upon all franof depositors an amount equal to the par value of the stock held by any viding for specific graduated taxes in addition to other taxes
MID
CITY DEVNATIVII:NT,
News Items.
1760
THE CHRONICLE
[VoL. Lxxxxv.
chises and rights of way, lands and other natural resources in excess of by the city
and under
$10.000 under one ownership and assessing water powers in the counties advise on rates of the direction of the Supervisors, to regulate service and,
utilities under private ownership; also to establish
where:situate; exempting from taxation all personal property of every kind, a Board of Water
Construction for the sole purpose of constructing theandiimprovements on, in and under land, except a county ma y enact
:
county‘law to tax the same. Defeated-31,534 for" to 82,015 against.' Hetch-lletchy Water Works'. Yes, 20,727; no, 49,777.
No. 7.
Albin for an Act to abolish capital punishment in the State of Oregon. deputies -Provides that the Election Commissioners, the Registrar and
shall refrain from active participation in politics, and places
Defeated-41,951 "for" to 64,578 "against."
thedeputies and clerks under civil service; also increases certain salaries.
Albin for an Act prohibiting boycotting or picketing any industry, workshop, store, place of business or factory,or any lawful business or enterprise, Yes, 26,346; no, 44,308.
No.8.
-Increasing the salaries of the officers and employees in the offices.
and prohibiting enticing, persuading or attempting to persuade or induce
any person working therein from continuing such employment and providing of the Treasurer, Auditor, Tax Collector, and increasing the salary of the
City Attorney. The amendment provides for increases in the salaries or
a penalty for violation of the Act. Defeated-49,826 "for" to
60,560 deputies and clerks aggregating $15,760. Yes, 5,87$; no, 63,488.
No. 9.
-Provides for the creation of a Department of Electricity, giving
"against."A. bill for an Act prohibiting the use of the public streets, parks and public
grounds, in any city or town of a population of 5,000 or over, for holding it control of all electric systems owned by the city and county, fixing the
duties
meetings for public discussion or speech-making purposes without a written and of the department,and also arbitrarily fixing the number of employees
providing a pension for employees In the service twenty years. Expermit from the Mayor thereof. Defeated-48,987"for" to 62,532 "against".
An Act appropriating $175,000 for building and equipping an admints- clusive of pensions, the amendment provides for an annual increaseof
trationlbuilding and extending heating plant to the same for the University $46,814. (Submitted to the electors by petition.) Yes, 7,106; no, 62,157.
No.10.
of Oregon, and also appropriating the further sum of $153,258 92 for the captain -Provides that a member of the Police Department other than a
of police may be appointed lieutenant of detectives at a salary of'
purchase of additional land, equipment and apparatus; making repairs,
$2,400 a year, an increase of $600 per year. It also provides that the
additions and improvements to buildings and grounds; paying salaries
Chief
of
instructors and employees; paying street assessments, and for additional of Police may appoint fifteen additional detective sergeants at increased
maintenance of the correspondence study department of the University salary. Yes, 7,054; no, 63,056.
No. 11.
-This amendment increases the salary of the Chief of Police from
of Oregon. Defeated-29,437 "for" to 78,985 'against."
An Act appropriating $175.000 for the construction, equipment and fur- $4,000 to $6,000 a year. Yes, 5,449; no, 64,128.
No. 12.
nishing a modern fire-proof library and museum building, and the extension Memorial-Appropriates $2,500 for celebration of Fourth of July; $500 for
Day and $1,000 for the celebration of Admission Day,
of the heating plant to the same, for the use of the University of Oregon.
Yes.
32,603; no, 37,832.
Defeated-27,310 "for" to 79,376 "against."
No. 14.
A. bill for an Act to assess and collect all taxes levied within Clackamas those for -Provides that bonds issued for a water system in addition to.
the Panama-Pacific Exposition now exempted shall be exempt
County from the land values, water powers, natural growths, deposits and
other natural resources and public service corporation franchises and rights from the provision which limits bonded indebtedness to 15% of the assessof way, exempting all other classes or property, including lands used for ment roll. Yes, 15,663; no, 51.817.
No.
-Provides for the method of levying taxes and preserves the
municipal, educational, literary, scientific, religious or charitable purposes, dollar 15.
limit except that special levies may be made for
now exempt. Defeated-1,827 "for" to 3,787 "against."
the construction and repair of public buildings; for the school purposes; for
acquisition of publicA bill for a local Act for Coos County to exempt from all taxes levied
within said county all personal property of every kind and all improvements utilities and extension of fire-protection system; for acquisition of lands for
on, in and under land in said county, and all occupations, businesses, municipal purposes; for the construction of tunnels, subways, viaducts,
convenience stations, &c.; for the construction and repair and cleaning or
trades and professions, except the liquor business, such occupations, &c.,
subject to regulation and may be charged sufficient to pay for issuing licenses sewers, and for street improvements; and for meeting the cost of increases
In salaries of officials or employees where such increases are voted
therefor. Defeated-1,113 "for" to 1,909 "against,'
by theA bill for an Act prohibiting the building of a court house in Harney people. Yes, 13,149; no, 54,451.
No. 16.
-Provides that the Board of Supervisors may levy
County before the year 1916, and prohibiting repairs thereto except those
of not
exceeding 10 cents on each $100 for the maintenance of parks. a taxpresent
The
absolutely necessary before said date, and to refund to the taxpayers pay- limit
is 7 cents. Yes, 30,289; no, 38.696.
ing the same all moneys collected for building such court house. Carried
No. 17.
-Relating to the appropriation for exempt firemen; this amend778 "for" to 391 "against."
A bill for an Act to appoint the• Treasurer of Jackson County and six ment increases the pension allowance for exempt firemen from $5,000 to.
other electors, officers and directors to establish a national bank in Jackson $7,500. Yes, 34,845; no, 35,213.
No. 25.
County, Ore., to be known as "Taxpayers' National Bank of Jackson Coun- Into the -Relates to Justices' Courts and Justices of the Peace, and enacts.
charter the provisions in the State Constitution. Yes, 30,196; no,
ty, Oregon," and to authorize such bank to issue Jackson County 25
-year
non-Interest
-bearing bonds to the amount of $1,590,000, and to deposit 34,056.
No.
-Permits the formation of local option districts of not less
the same with the National Treasury Department at Washington, D. C., fifty 27.
contiguous blocks, provided same do not divide any precinct. than,
as a basis for said bank to issue currency. No bonds redeemable under
Yes,
15,087; no, 63,770.
20 years. Defeated-1,975 "for" to 2,379 "against."
No. 28.
A bill for an Act amending Sections 6100. 6101, 6103 and 6105 of Lord's Boards, -Provides for the reorganization of the Police, Fire and Health.
with three Commissioners each; and the Fire and Health Boards
Oregon Laws, reducing the number of the commissioners of the Port of
Portland from 7 to 3, providing for their election by the people instead of shall issue permits for laundries, garages, boilers, stables, &c. Yes, 32,234;
by the Legislative Assembly of the State of Oregon, making their term no, 36,261.
No. 29.
-Provides for
6 years, one to be elected every two years, and providing a salary or $3,600 hours at places outside rules relative to registration of voters after office.
of the main office, and as to vacations ofemployees.
per annum. Defeated-13,931 "for" to 18,66.8 "against."
on pay, in Registrar's office. Yes, 15.844; no, 51,721.
A bill for a local Act for Multnomah County exempting from taxation all
No. 33.
-Provides that the Department of Public Works shall be under
personal property of every kind and all improvements in, on and under
land in said county, and all occupations, businesses, trades and professions, the management of the Director of Public Works, who shall be appointed
except the liquor 'business, such occupations, &c., subject to regulation by and hold office at the pleasure of the Mayor. He shall be paid a,
and may be charged sufficient to pay for issuing licenses therefor. De- salary not to exceed $15,000 per year. Yes, 27,620; no, 39,045.
No. 34.
-Provides the method by which franchises shall be granted and
feated-11,146 "for" to 23.901 "against."
A bill for an Act abolishing the county high school of Wallowa County for a re-settlement of existing franchises. Yes, 33,413; no, 35,796.
No. 35.
-Provides that the Board of Supervisors shall levy a tax to pay
located at Enterprise in said county. Carried-1,031 "for" to 655 "against."
the interest on all bonds authorized to be issued but unsold where the
interest or redemption of said bonds falls due within the succeeding fiscal'
San Francisco, Cal.-Result of Vote on Charter Amend- year. Yes, 13,659; no, 52,306.
ments.
-Of the thirty-seven proposed amendments to the city
Taylor
(P. 0. Campbellsville), Ky.-Agreecharter submitted to the voters on Dec. 10, seventeen were ment with County of
Holders
Old Railroad
--The Louisville
adopted. Complete semi-official returns, according to the "Courier-Journal" of Dec. 21 prints Bonds.
the following concerning
San Francisco 'Chronicle," are as follows:
an agreement for the payment of defaulted railroad bonds
Amendments Which Received a Favorable Vote,
of this county:
No. 1.
-Authorizing
the Board of Supervisors to acquire and exchange
parcels of land for Civic Center purposes and authorizing the erection of an
auditorium, library, opera house, State building and other structures in
the Civic Center. Yes, 50,061; no, 24,290.
No. 2.
--Empowering the Supervisors to pass ordinances governing
building at exposition and for the use of streets and Lobos Square by the
Panama-Pacific International Exposition. Yes, 47.895; no, 24.702.
No. 3.
-Enlarging the power of the Civil Service Commission to protect
the service, establishes a six-year term for commissioners and brings the
county offices under civil service rules. Yes, 44,333; no, 30,392.
No. 13.
-Provides that all persons in the employ of the city must be
residents of the city for one year prior to such employment, except that
experts may be employed for special purposes by resolution of the Board of
Supervisors approved by the Mayor, and such experts shall be exempt from
the residence qualification. Yes, 41,142; no, 30,445.
No. 18.
-Provides a method for opening, widening and closing of streets
on the district assessment plan and permits the payment of said assessments
in ten annual installments. Yes, 40,883; no, 28,239.
No. 19.
-Permits property to be assessed for street improvements not
exceeding Its assessed value, the sum to be payable In not more than ten
yearly installments. Yes, 38.837; no, 29,923.
No. 20.
-Provides that the cost of construction of tunnels, subways, &c.
may be provided for by district assessment plan and that said assessments
may be paid in ten annual installments. Yes, 37,365; no, 30.784.
No. 21.
-Provides that the city may establish a revolving fund to pay for
street or tunnel work in excess of $500,000,the money to be collected from
the property benefited in annual installments. Yes, 39,030; no. 30,421.
No. 22. Provides for the sale of a portion of the Relief Home tract not
adapted to public use; proceeds from such sale to be used exclusively for the
purchase of other land adjoining Relief Home tract. Yes, 39,078; no.
29,505.
No.23.-Forbids any partisan qualification for appointment to office or
position, and amends the charter to conform with the equal suffrage constitution provisions. Yes, 34,553; no, 31,801.
No. 24.
-Provides that the city attorney shall prosecute actions for
collection of delinquent taxes. Yes, 38,156; no, 28,809.
No. 26.
-Provides a pension for the family of a policeman or fireman who
may be killed or injured in the performance of his duty and who dies within
one year after being injured. 'Yes, 36,042; no, 32,650.
No. 30.
-Empowers the Board of Supervisors to establish a Bureau of
Supplies; to prescribe forms in which demands against the treasury shall be
drawn by the Auditor; to prescribe a uniform system of accounting to prescribe methods for keeping records and files for the city. Yes, 36,815; no,
31,186.
No. 31.
-Gives the Police Commission power to initiate and conduct
Investigations relating to the Police Department, to issue subpoenas, take
testimony and to report contemptuous conduct to the presiding Judge of
the Superior Court. Yes, 35,646; no, 30,447.
No. 32.
-Provides that the Fire Alarm Signal Station may be located in
Jefferson Square. Yes, 38.026; no, 28,859.
No. 36.
-Provides that 3%% library bonds may be sold on a basis which
will not exceed 4%% interest to the purchaser. Yes, 35,303; no, 31,123.
No. 37.
-Provides that the Board of Supervisors may provide by ordinance for the establishment of a City Planning Commission, which shall
devise plans for the improvement and beautification of San Francisco.
Members of said commission shall receive no compensation. Yes,
33,819;
no, 33,296.
Amendments Which Failed to Carry.
No. 4.
-Relates to the office of Assessor, the Coroner, the Recorder, the
County Clerk and the Sheriff, and increases the salaries of certain officers
and employees. Yes, 14,843; no, 58,459.
No. 5.
-Establishing a two-platoon or two-shift system in tho San
Francisco Fire Department, increasing the number of officers and members
and creating shifts and watches therefor. Submitted to the electors by
petition. Yes, 33,721; no, 46.054.
No. 6.
-Provides for the acquisition and construction of public utilities,
the financing thereof, the construction of extensions of existing utilities, the
establishment of a public service commission to conduct the utilities owned
Settling a question which has confronted the officials of Taylor County
15 years, an agreement was reached last night by which holders of bonds
issued by that county in 1888, and which acre defaulted in 1898, are to
receive 55% of the interest and principal. The decision to compromise
was reached at the close of an all-day conference at the offices of the Fidel
1y & Columbia Trust Co. between parties interested.
The entire indebtedness of the county, including both principal and
est, Is $250,000, of which amount the bondholders will receive 55%. interwill be something over the amount. of the issue as put out in 1888. ItThis
announced that the county will raise the money by a tax levy. Only was
levy will be made, it being the intention of the county officials to wipe one
out
the entire indebtedness within one year.
The compromise reached last night is subject to the approval of the
Fiscal Court of Taylor County and the bondholders, a largo number of
whom, however, were present at the conference. Three members of theFiscal Court, Judge E. N.Tucker, J. R.Sanders and J. T. Moss,composing
a committee representing the county, also were present. Judge Tucker
and 0. 0.Montgomery of Elizabethtown, who represents the bondholders,
both declared that approval of the agreement was practically certain.
It is understood that the original proposition of Taylor County provided.
for settlement of the indebtedness on a 50% basis, but the bondholders
wanted 55%. An agreement on this basis was made after the throe members of the Fiscal Court had conferred among themselves just before the
close of the conference with the bondholders.
The Taylor County bonds grew out of the attempt to build the old Cumberland railroad. Numerous efforts had been made to compromise the
case and considerable litigation had been instituted.
Bond Calls and Redemptions.
Denver, Colo.
-Bond Call.
-The following bonds are
called for payment Dec. 31:
Sanitary Sewer Bonds.
Sub-District No. 8 of the East Side Sanitary Sewer District No. 1.
Bonds Nos. 140 to 142, inclusive.
Sub-District No. 9 of the East Side Sanitary Sewer District No. 1.
Bond No. 10.
Improvement Bonds.
Cherry Creek Improvement District No. 1. Bonds Nos. 111 to 126,inch
Ogden Street Improvement District No. 1. Bond No. 20.
South Capitol Hill Improvement Dist. No. 2. Bonds Nos. 37 to 39,inch
South Denver Improvement District No. 4. Bond No. 48.
Alley Paving Bonds.
Alley Paving District No. 22. Bond No. 10.
Alley Paving District No. 23. Bond No. 12.
Broadway Paving District No. 3. Bond No. 44.
Market Street Paving District No. 2. Bond No. 29.
Park Bonds.
South Denver Park District. Bonds Nos. 601 to 624, inclusive.
Upon the request of the holders of any of the above bonds, received tem
days before the expiration of this call, the Treasurer will arrange for thei
payment at the Bankers Trust Co., New York City, but not otherwise.
Bonds Lost or Stolen.
-Notice is given that Bonds Nos. 19
and 62, and 112, of Part "A", Sub-District No. 14, of theWest and South Side Sanitary Sewer District have been lost.
or stolen. These bonds were signed only by Seth B. Bradley,
Pres. of Board of Public Works of tin City and County of
Denver.
Sao Paulo, Brasil.
-Bond Call.-Notice is given by the
National City Bank of New York that, in carrying out the
Oaf
DEC. 28 1912
THE CIIRONICLE
operations of the sinking fund of the State of Sao Paulo
(Brazil) issue of £15,000,000 sterling 5% Treasury bonds
of 1908, there have been drawn by lot £870,000 of these
bonds for payment on Jan. 1 1913. The numbers of the
drawn bonds which were offered for subscription in the
United States have been published. Holders of bonds of
this issue not signed by the National City Bank of New York
as agent for the loan may advise the bank of the numbers
of their bonds and they will be notified promptly it they have
been drawn for payment.
Spokane, Wash.
-Bond Call.
-The following special
improvement bonds are called for payment on Dec. 31 at
the City Treasurer's office:
Grade Bonds.
Walk Bonds.
NameDist. Nos. of Bds.
NameDist. Nos. of Bds.
Alice
Fourth
724
4-5
237
5
Gordon
3-5 incl. Mansfield
886
314
11-12
Heroy
736
9-11 incl. Ninth
295
4
Normandie
Illinois
305
7
324
5
Mansfield
6-8 incl. Providence
313
325
5-6
Providence
3-5 incl.
740
Sewer Bonds.
Pittsburg
2-5 incl. Atlantic
874
504
6
Scott
449 20-23 incl. Alley
5-12 incl.
751
Thirty-fourth
726 10-15 inch Alley
766
4-6 incl.
492 31-40 incl. Dean
Walnut
536
3
Walk Bonds.
First Ward
19
2-4 incl.
Atlantic
320
Garfield Road
6-7
898
2-4 incl.
Carlisle
286
4
Paving Bonds.
Cadispell
6-8 incl. Brown
321
155 34-40 incl.
Chestnut
302
Fourth
6
744 41-74 incl.
Slater, Salem County, Mo.-Bond Call.
-Call has been
made for payment Jan. 1 1913 of water-works 5% bonds
Nos. 15 and 16, dated Dec. 311897, for $500 each.
State of Durango, Mex.-Bond Call.
-We have been advised that the following State of Durango 5% bonds have
been called for pyment on Dec. 31:
Nos. 54, 264, 351, 384 and 669 for $1,000 each
$5,000
Nos. 723, 898, 921. 1098, 1460, 1937, 2002, 2138, 2186 and 2221
for $500 each
5,000
Nos. 2377, 2438, 2466, 2583, 2613, 2664, 2706, 2721, 2729, 2761,
2864,2910,2942,2969,2972,3008,3025 and 3030for $100 each 1,800
Total amount of bonds called
Call._sewe1r1,0058%
$11,800
Webb City, Jasper County, Mo.-Bond
bonds Nos. 11 and 12 for $1,000 each, dated Jan. 1 1901,
have been called for payment Jan. 1 1913.
Bond Proposals and Negotiations this week
have been as follows:
ADA, Hardin County, Ohio.
-BOND SALE.
-On Dec. 20 the two
issues of 4%% bonds aggregating $13,750 (V. 95, p. 1559) were awarded
to Spitzer, Rorick & Co. of Toledo for $14,450. making the price 105.09.
A bid of $14,437 50 was also received from Sidney, Spitzer & Co. of Toledo.
ALBERHILL SCHOOL DISTRICT, Riverside County, Cal.BOND SALE
.-On Dec. 18 $4,000 6% 1-16-yr. (ser.) bldg. bonds
awarded to the First Nat. Bank of Barnesville, Ohio, at 100.375 andwere
int.
No other bids received. Denom.$250. Date Nov. 13 1912. Int. MAN.
ALBUQUERQUE SCHOOL DISTRICT (P. 0. Albuquerque),
Bernalillo County, New Mex.-BONDS VOTED.
-The proposition to
issue the $100,000 high-school-bldg.-constr. bonds (V. 95, p. 1421) carried
by a vote of 762 to 15 at the election held Dec. 10. This item was inadvertently reported in last week's "Chronicle" under the head of "Albu,
querque School District, Cal.'
ALICEVILLE, Pickens County, Ala.
-BOND OFFERING.
-Proposals
will bo received at once for the $11,000 6% 10-yr. school-bldg. bonds.
Auth. vote of 50 to none at the election held Dec. 16 (V. 95, P. 1633)•
ALLEN COUNTY (P. 0. Lima), Ohio.
-BOND OFFERING.
posals will be received until 12 m. Dec. 31 by C. R. Phillips, Clerk -ProCo. Commrs., for $14,454 5% coup. constr. bonds. Auth. Sec.Bd. of
Gen. Code. Denom. $1,606. Int. semi-ann. at office of Co. Treas. 6489,
Due
$1,606 in six months and $32 12 every six months thereafter. Cert. check
for 10% of bonds bid for, payable to the Co. Treas., required. Bonds to
be delivered within 3 days from time of award. Purch. to pay acc. int.
ALLIANCE, Starke County, Ohio.
-DESCRIPTION OF BONDS.
$10,000
% coupon Westville reservoir-construction bonds (V. -The
95,
1633) are in $1000 denomination, and interest is payable semi-annually p.
at
City Treasurer's office. Due Dec. 15 1934.
ANDOVER, Cuyahoga County, Ohio.
-BOND SALE.
--The First
Nat. Bank of Cleveland was awarded for $7,223 90 (103.19) the $7,000
% street-impt. bonds offered on May 13. Date April 11912.
ANGOLA, Erie County, N. Y.
-BOND SALE.
-Isaac W. Sherrill of
Poughkeepsie was awarded an issue of $16,000 street-paving bonds offered
on April 8 1912 at 100.05 for 4.75s. Date April 8 1912. Due $1,000 yrly.
April 8 1917 to 1932 incl.
APPALACHIA, Wise County, Va.-BONDS DECLARED VOID.We are advised that the $26,000 water and $14,000 impt. bonds offered
without success on Aug. 21 1911 (V. 94, p. 224) have been declared void.
I30ND ELECTION.
-An election will be held Dec. 31 to vote on the
proposition to issue $30,000 street and sower-impt. bonds.
ARNOLD, Custer County, Neb.-BONDS PROPOSED.
-It is stated
that the issuance of bonds for a new school house is being agitated.
ASHLAND, Ashland County, Ohio.
-BOND SALE.
-On Dec. 23
the $8,000 4%% 4 2-3-yr. (ay.) sewer bonds (V. 95, p. 1486) were awarded
to the Ashland Bank & Say. Co. of Ashland at 102.99 and int. A bid of
$8,189 was also received from the First Nat. Bank of Ashland.
ASHLAND, Jackson County, Ore.
-BONDS DEFEATED.
-The
question of issuing $25,000 bonds was defeated by a majority of 58 votes
at an election held Dec. 17.
ATASCOSA COUNTY (P. 0. Pleasanton), Tex.
-BOND ELECTION.
-Reports state that an election has been ordered for Jan. 25 1913 in Commissl„niers' Precinct No.3 to vote on the issuance of $25,000 good roads bonds.
ATHENS, Athens County, Ohio.
-BOND OFFERING.
-Proposals
will be received until 12 m. Jan. 27 by C. W. Gross, City Aud.,for the
following 5% coup. assess. bonds
$3,030 Lancaster St. impt. bonds. Denom. $303. Cert. check on a solvent bank in Athens Co. for $300, payable to the City Treas., required.
4,730 First St., Walker St. and Miller Alley impt. bonds. Denom. $473.
Cert. check on a solvent bank in Athens Co. for $475, payable to
the City Treas., required.
Date Dec. 1 1912. Int. semi-annual at City Treas. office. Due one
bond of each issue yrly. on Sept. 1. All bids must be unconditional.
BARNESVILLE, Belmont County, Ohio.
-BOND
Proposals will be received until 12 m. Jan. 20 1913 by F. OFFERING._.
W. Mlles, VII
Cleric, for the following 5% assess, bonds:
$1,223 00 Church St. Impt. bonds. Denom.(1) $98,(9) $125.
2,506 89 Mulberry St. Impt. bonds. Denom. (1) $166 89, (9) $260.
Date Dec. 26 1912. Int. semi-ann. Duo one bond yrly. in from one
to ten years incl. Cert. check for 5% of bonds bid for, payable to
the Vil.
Treas., required. Bonds to be delivered within 10 days from time of award.
Purchaser to pay accrued interest.
BASSETT, Rock County, Neb.-BONDS TO BE OFFERED SHORTLY
-We are advised by the Village Clerk under date of Dec. 23 that
the $3,000
electric-light and $10,000 water-works 5% 5-20-yr. (opt.)
coup. bonds
(V. 95, p. 1288) will be offercd at public sale some time between
now and
the first of next year.
1761
BECKLEY SCHOOL DISTRICT (P. 0. Beckley), Raleigh County,
Va.-BONDS AUTHORIZED.
-This district recently authorized the Issuance of $50,000 5% coupon high-school-constr. and equip. bonds. Auth.
Sec. 39, School Law of 1911 (Chap. 45 of the Code) and vote of 1,034 to
505 at an election held Nov. 5. Denom. $1,000. Date Jan. 11913. Int,
annually in Jan. at County Sheriff's office. Due Jan. 1 1943, optional
beginning Jan. 1 1923. No debt at present. Assessed valuation 1912,
$6,148,799.
BEDFORD, Lawrence County, Ind.
-AMOUNT OF BONDS PURCHASED.
-We are advised by the City Clerk that the amount of waterworks-impt. bonds purchased by Miller & Co. of Indianapolis was $20,000
and not $25,000, as first reported (V. 95, p. 1422)•
BELLEFONTAINE, Logan County, Ohio.
-On
-BOND SALE.
Dec. 19 $2,500 5% 10-yr. bonds were awarded, reports state, to H.J. Mack
of Bellefontaine at 100.40.
BELLE FOURCHE, Butte County, So. Dak.-BOND SALE.
-Reports state that this city recently disposed of $41,800 refunding bonds.
BELLEVUE, Allegheny County, Pa.
-BOND SALE.
-The $50,000
% street-impt. tax-free bonds offered on July 2 (V. 94, p. 1778) were
awarded to E. W. Clark & Co.
BERRIEN COUNTY (P. 0. St. Joseph), Mich.
-BOND ELECTION.
-In April 1913 the voters will have submitted to them the question of
ssuing the $500,000 15-yr. road bonds (V. 95, P. 1225)•
BIG RAPIDS, Mecosta County,Mich.
-NO ACTION YET TAKEN.
-We are advised by the City Clerk that no action has yet been taken lookng towards the issuance of the $50,000 water-works bonds (V. 95, p. 1225)
recently voted.
BILLINGS, Mont.
-BOND ELECTION.
-An election will be held in
April, it is stated, to vote on the question of issuing $600,000 bonds for the
erection of a municipal water plant. See "Billings, Mont.," on a preceding page.
BLACKVILLE SCHOOL DISTRICT NO. 19 (P. 0. Blackville),
Barnwell County, So. Caro.
-BOND SALE.
-Cooke, Holtz & Co. of
Chic. were awarded at 103.385 the $16,500 6% 10-20-yr. (opt.) school
bonds offered on Oct. 1 (V. 95, p. 767). Date Nov. 1 1912. Int. ann.
in January.
BLOOMINGTON SCHOOL DISTRICT (P. 0. Bloomington), Monroe County, Ind.
-BOND SALE.
-On Dec. 20 $71,467 4%7high-schoolbuilding bonds were awarded, it is stated, to Breed, Elliott Sc Harrison of
Indianapolis. Date Feb. 1 1913.
BOISE CITY, Ada County, Idaho.
-BOND OFFERING.
-Proposals
m. Jan. 18 1913 by Nancy E. Robertson, City
will be received until 2
p.
Clerk, for the following 7 gold coup. assess. bonds (V. 95. p. 1634)
$5,528 56 Improvement Dist. No. 18 grading and surface-drainage bonds.
Denom. (1) $528 56, (10) $500.
18,033 60 sewerage-impt. Dist. No. 2 bonds. Denom. (1) $533 60. (35)
$500.
35,410 70 sewerage-impt. Dist. No. 111 bonds. Denom. (1) $410 70,
(70) $500.
Date Feb. 11913. Int. F.& A. at the City Treas.office or at the Chase
Nat. Bank, N. Y. Due one-tenth of each issue yearly commencing Feb. 1
1914. Cert. check for 5% of bonds bid for,payable to the city of "Boise
City," required.
BRATENHAL (P. 0. Cleveland), Ohio.
-BOND SALE.
-The $36.000
4%% and $3,752 90 5% Lake Shore Boulevard assess. bonds offered on
Oct.8 (V. 95, p. 700) were awarded to Otis & Co. of Cleve. at 102.19.
ADD TO CANTON 0E110 BOND SALE
The 7 issues of 4%% bonds aggregating $61,300 offered on July 29(V.95,
p. 65) were awarded to the Tillotson & Wolcott Co. of Cleve. at 101.79.
BRIDGEVILLE SCHOOL DISTRICT (P. 0. Bridgeville), Allegheny
County, Pa.
-BOND SALE.
-The $10,000 4%% 20 -year school bonds
-30
offered on April 30 were purchased by the Mellon Nat. Bank of Pittsburgh.
BRISTOL COUNTY, Mass.
-NOTE SALE.
-On Dec. 24 the $70,000
4% court-house notes (V. 95, p. 1695) were awarded to Blodgot & Co. of
Boston at 100.467. Due $20,000 in 6,7 and 8 years and $10,000 in 9 years.
BROCKPORT, Monroe County, N. Y.
-BOND OFFERING.
-Proposals will be received until 8 p. m. Jan. 10 1913 by Louis B. Shay, VII.
Clerk, for $275,000 coup. water-works-constr. bonds at not exceeding 5%
int. Int. ann. or semi-ann. at the Chase Nat. Bank, N. Y. Due $11,000
yrly. on July 30 from 1917 to 1941 incl. Cert. check on a bank,other than
the one making the bid,for $5,000, payable to the village, required. Successsful bidder must furnish the necessary blank bonds.
The official notice of this bond offering will be found among the advertisements elsewhere in this Department.
BURLESON COUNTY (P. 0. Caldwell), Tex.
-NO ACTION YET
TAKEN.
-The County Clerk advises us under date of Dec. 23 that no
action has yet been taken looking to the issuance of the $90,000 court-house
bonds (V. 95, p. 1225).
BURLINGAME, San Mateo County, Cal.
-BOND SA LE.
-According
to reports, $5,000 water bonds have been sold to the Bank of Burlingame at
101.06.
BUTTE CITY SCHOOL DISTRICT, Glenn County, Cal.
-PRICE
PAID FOR BONDS.
-The price paid for the $6,000 5% 1-6-yr. (ser.) sitepurchase and bldg. bonds awarded on Nov. 25 to the State Board of Control
(V. 95, p. 1634) was par and int. Denom. $1,000. Date Aug. 1 1912.
Int. F. & A.
CAMPBELL INDEPENDENT SCHOOL DISTRICT (P. 0. Campbell), Hunt County, Tex.
-BONDS AWARDED IN PART.
-On Dec. 10
the State Permanent School Fund was awarded an additional $3,000 of the
$12,000 5% bonds (V. 95, p. 1427) at par and int. This makes $6,000 of
this issue purchased to date.
CANTON, Starke County, Ohio.
-BOND SALE.
-On Dec. 16 the
six issues of 43 % bonds aggregating $13.900(V. 95, p. 1422) were awarded
to Charles Kolp for $13,930, making the price 100.217, it is stated.
CAREY Wyandot County, Ohio.
-BOND SALE.
-On Dec. 23 the
$10,000 5 6-yr. (ay.) coup. Vance St. impt. assess. bonds (V. 95, p. 1486)
were awarded to the Citizens' Say. Bank of Upper Sandusky at 105.16 and
interest. Other bids follow:
E. II. Hakes, Toledo_ _$10,472 49'Spitzer, Rorick & Co., Tol$10,257 00
Tillotson&WolcottCo, Cle. 10,265 00!Well, Roth & Co., Cin- -- 10,050 00
CARROTHERS SPECIAL SCHOOL DISTRICT (P. 0. Carrothers),
Carroll County, Ohio.
-BOND SALE.
-On Dec. 19 the $4,000 5% bonds
(V. 95, p. 1487) were awarded to G. G. Sutton of Attica at 103.125 and int.
Date Dec. 19 1912. A bid of $4,120 was also received from Spitzer,
Rorick & Co. of Toledo.
CASCADE COUNTY (P. 0. Great Falls), Mont.
-BONDS NOT TO
BE ISSUED AT PRESENT.
-We are advised under date of Dec. 16 that
the $45,000 5% 20-yr. coupon Missouri River bridge-constr. bonds voted
,
Nov. 5(V. 95, p 10762 will not be offered for sale until next spring.
BONDS DEFEATE .-We
are further advised that the $60,000 courthouse and jail-constr. bonds submitted to a vote Nov. 5 (V. 95, p. 1070)
failed to carry on that day.
CASS COUNTY SCHOOL DISTRICT NO, 20, Tex.
-BONDS REGIS-On Dec. 18 $500 5% 20-yr. school bonds were registered by the
TERED.
State Comptroller.
CHAMPAIGN, Champaign County, Ill.
-BOND ELECTION.
Local papers state that the question of issuing about $12,000 (amount reduced from $25,000, V.95, p. 1487)fire-dept.-impt. bonds will be submitted
to a vote on Jan. 21 1913.
CHANEYVILLE INDEPENDENT SCHOOL DISTRICT, Tex.
BONDS AWARDED IN PART.
-On Dec. 10 the State Permanent School
Fund was awarded at par and int. $1,050 5% 20-40-yr. (opt.) bonds. This
is the fourth installment of an issue of $7,000 contracted for in September.
(V. 95, p. 1427.)
• CHARLESTON SCHOOL DISTRICT (P. 0. Charleston), Jefferson
County, W. Va.-BONDS VOTED.
-By a vote of 579 to 60 the questioa
of issuing $300,000 5% bonds carried at an election held Dec. 17, reports
state.
CINCINNATI, Ohio.
-BOND SALE.
-On Dec. 20 the following bids
were received for the five issues of 4% tax-free bonds aggregating $330,500
(V. 95, p. 1422):
THE CHRONICLE
1762
$115,000
hospital.
$
$75,000
Sewer.
$
$69,000
Sewer.
$
$50,000 $21,500
Subway.
Street.
$
$
Seasongood & Mayer,
Well, Roth & Co.
and Western German Bank, Cin.;
Stacey&Braun,Tol*118,360 00*76,820 00 70,670 00*51,710 00*22,042 00
First Nat. Bk., Norw118,163 50 76,502 50*70,899 50 51,501 90 21,959 99
Atlas Nat. Bk., Cin 117,035 50 76,132 50 70,041 90 51,060 00 21,833 25
Cent. Tr.&S.Dep.Co.
51,280 00 21,906 35
Fifth-Third National
Bank, Cin
76,245 00
21,856 90
Field. Longstreth &
Co., Breed, Elliott
& Harrison, Brighton Ger. Bk., Cm..118,176 00 76,695 00 70,561 00 51,631 00 21,986 90
Spitzer, Rorick & Co.,
Toledo
50,591 25
A.E. Aub & Co., Cin.
51,015 00
i3erman Nat. Bank,
and Davies
-Bertram
Co., Cin
115,200 00 75,100 00 69,077 00 50,505 00 21,801 00
*Successful bids.
CIRCLEVILLE, Pickaway County, Ohio.
-BOND SALE.
-On
Dec. 24 the $9,500 4% 6-yr. (ay.) coup. fire-dept.-Impt. bonds (V. 95,
p. 1634) were awarded to the First Nat. Bank of Circleville at 102.64 and
mt. A bid of $9.633 was also received from Seasongood & Mayer of Cin.
CITY CREEK SCHOOL DISTRICT, San Bernardino County, Cal.
-BONDS DEFEATED.-Tbo question of issuing the $8,000 bldg. bonds
(V. 95, p. 1634) failed to carry, it Is stated, at the election held Dec. 21.
CLARK COUNTY (P. 0. Springfield), Ohio.
-BOND OFFERING.
Proposals will be received until 2 p. m. Jan. 15 1913 by the Bd. of Co.
Commissioners for the following 5% coup. bonds:
15,000 Beaver Creek bridge-constr. bonds. Due $500 each six months
from Jan. 15 1914 to July 15 1918 incl.
5,500 Donnell's Creek bridge-constr. bonds. Due $500 each six months
from Jan. 15 1914 to Jan. 15 1919 incl.
Auth. Secs. 2434 and 2435, Gen. Code. Denom. $500. Cert. check for
$500 required with bids for each block of bonds. Purchaser to pay ace. int.
CLEVELAND, Ohio.
-BOND SALE.
-On Dec. 20 the 10 issues of
4% coup. bonds (V. 95, p. 1423) were awarded as follows:
$500,000 street-impt. (city's portion) bonds to the Cleveland Trust Co.,
Hayden, Miller & Co. and Otis & Co. of Cleveland at 100.06.
50,000 refuge and correction bonds to Brighton German Bank Co. of
Cin. at 100.403.
225,000 park bonds to the Cleve. Trust Co., Hayden, Miller & Co. and
Otis & Co. of Cleve. at 100.06.
35,000 police dept. bonds to the Cleve. Trust Co., Hayden, Miller & Co.
and Otis & Co. of Cleve. at 100.06.
180,000 house of correction bonds to the Cleve. Trust Co., Hayden, Miller
& Co. and Otis & Co. of Cleve. at 100.06.
175,000 infirmary and hospital bonds to the Cleve. Trust Co., Hayden,
Miller & Co. and Otis & Co. of Cleve. at 100.06.
50,000 garbage-disposal bonds to Spitzer, Rorick & Co. of Toledo at
100.5415.
25,000 harbor bonds to the Cleve. Trust Co., Hayden, Miller & Co. and
Otis & Co. of Cleve. at 100.06.
125,000 fire dept. bonds to the Western German Bank, Cin., at 101.26.
200,000 Cuyahoga River purification bonds to the Cleve. Trust Co.,
Hayden, Miller & Co. and Otis & Co. of Cleve. at 100.06.
Other bids follow: The Cleve. Trust Co., Hayden, Miller & Co. and
Otis & Co. of Cleve.: 100.06 for the $125,000 fire, $50,000 garbage and
$50,000 refuge and correction bonds; Weil. Roth & Co. and Seasongood &
Mayer of Ctn. bid 100.02 for the $200,000 Cuyahoga River and $175,000
infirmary bonds; Spitzer, Rorick & Co. of Tol, also bid $125,714 for the
$125,000 fire bonds.
BOND SALE.
-On Dec. 26 the following olds were received for the
$175,000 4% 40-year coupon public-hall-impt. bonds (V. 95, p. 1487)
Hayden, Miller & Co.,Cley_$175,6301Cleveland Trust Clo.,Cley_1$175.525
Fifth-Third Nat. Bank, Cin. 175,2261Tillotson&WolcottCo.,Cley J
BONDS AU7'HORIZED.-Ordlnances have been passed providing for
the issuance of $180,000 Dist. No. 20, $265,000 Dist. No. 7, 325,000 Dist.
No. 15 and $185,000 Dist. No. 15 sewer and $200,000 water-works 43f%
coup. refunding bonds. Denom. $1,000. Date Mch. 11913. Int. semiann. at the Amer. Exch. Nat. Bank of N. Y. Due April 1 1931.
CLEVELAND HEIGHTS, Ohio.
-BOND SALES.
-Otis & Co. of
Cleveland were awarded for $4,934(101.501)the $4,861 43i% coup. Ridgefield Road impt. asst. bonds offered on Jan. 30 1912 (V. 94,
225).
p.
We are also advised that the $23,422 Fairfax and $17,14'7 Monmouth
1804)
4%% coup. road-impt. assess. bonds offered on Jan. 16 (V. 93,
p.
were awarded to the Tillotson & Wolcott Co. of Cleve. for $23,852 96 and
$17,460 79, respectively, making the price 101.83.
On Dee. 17 the $6.024 Maple Rol(' and $7,422 Crest Road 434% coupon
impt. assess. bonds (V. 95, p. 1423) were awarded to the Tillotson & Wolcott Co. of Cleveland at 101.38 and 101.48, respectively.
CLEVELAND SCHOOL DISTRICT P. 0. Cleveland),. Ohio.
-No bids were received on Dec. 20
-NEW OFFERING.
BONDS NOT SOLD
for the $2,000,000 4% 30-yr. library bonds (V. 95, p. 1487) offered on that
day. Legality of the bonds was questioned by the bond buyers on the
ground that no notice had been given of the election at which the bonds
were voted and proceedings have been started in Common Pleas Court
to settle this point. The issue is to be re-offered and proposals will be
received, this time until Jan. 30 1913.
CLYDE INDEPENDENT SCHOOL DISTRICT (P. 0. Clyde), Cal-On Dec. 10 the State Permanent
-BOND SALE.
houn County, Tex.
School Fund was awarded at par and int. the remaining $1,500 of the $6,000
5% 20-40-yr. (opt.) bonds (V. 95, p. 1427).
-BONDS AUTHORCOFFEYVILLE, Montgomery County, Kan.
IZED.
-An ordinance was passed Dec. 16 providing for the issuance of
7
37,185 51 5%60 coupon street-impt. bonds. Denom. (1) $185 51, (14)
$500. Date Dec. 1 1912. Int. J. & D. at fiscal agency of the State of
Kansas in Topeka. Due $685 51 Dec. 11913,$500 on Dec. 1 in even years
and $1,000 on Dec. 1 in odd years from 1914 to 1922, inclusive.
COLFAX SCHOOL DISTRICT (P. 0. Colfax), Placer County, Cal.
-A vote will be taken on Jan. 111913, reports state,
-BOND ELECTION.
on the question of issuing $6,000 grammar-school-bldg. bonds.
-Otis & Co. of Cleveland have
-BOND SALE.
COLLEGE HILL, Pa.
been awarded the $15,500 4M % funding bonds offered on Aug. 1 (V. 95
p. 189). Due Aug. 1 1919 to 1942.
COLLINGSWORTH COUNTY COMMON SCHOOL DISTRICT
-The State Permanent
-BONDS AWARDED IN PART.
NO. 14, Tex.
School Fund was awarded on Dec. 10 $1,000 of an issue of $2,000 5% 20
year bonds, registered by the State Comptroller on the same day, at par
and interest. Date Sept. 1 1912.
COMANCHE COUNTY COMMON SCHOOL DISTRICT NO, 65,
Tex.
-BONDS AIVARDED IN PART.
-On Dec. 10 the State Permanent
School Fund was awarded $2,000 of the $10,000 5% bonds (V. 95, p. 1427)
at par and int.
-ProCORVINA, Los Angeles County, Cal.
-BOND OFFERING.
posals will be received until 8 p. m. Jan. 14 1913, it is stated, by A. M.
Pence, City Clerk, for $15,500 5% 1-31-yr. (ser.)sewer bonds. Int.semi-ann. Cert. check for 5% required.
CORYDON,Henderson County, Ky.-BOND OFFERING.
-Proposals
will be received until Jan. 6 1913 by C. E. Harness, City Clerk, for the
$8,000 6% coup. elec.-light-plant,-constr. bonds (V. 95, p. 1423). Auth.
vote of 157 to 47 at the election held Nov. .5. Denom. $500. Date Jan. 1
1913. Int. in Jan. at Corydon Deposit Bank in Corydon. Due Jan. 1
1933, subject to redemption after two years, according to serial numbers
of bonds. Bonds are exempt from city taxes when held by residents. No
debt at present. Assess. val. 1913, $300,000.
COSHOCTON CITY SCHOOL DISTRICT (P. 0. Coshocton),
-BOND SALE.
-On Dec. 20 the $80,000 4 %
Coshocton County, Ohio.
bldg. bonds (V. 95. p. 1487) were awarded to the Commercial Nat. Bank
of Coshocton for $84,006 70 (105.008) and int. Other bids follow:
Coshocton Nat. Bk. Cos_$84.003 66 Breed, Elliott & Harrison,
Cincinnati
'
$83,283 00
People's Banking Co.,., Cos 83,826 70
Seasongood & Mayer,Cis. 83,621 00 Spitzer, Rorick & Co., Tol 81,864 00
Well, Roth & Co., Cin___ 83,322 00 Sidney, Spitzer & Co., Tol 81,666 00
Hayden, Miller & Co..Cle. 80,568 00
L XXX %,
COVINGTON COUNTY(P.O. Collins), Miss.
-BONDS DEFEATED.
-The election held Dec. 19 resulted, it is stated, in the defeat oft the proposition to issue the road bonds for Supervisors' Dist. No.4(V. 95, p. 1634).
DADE COUNTY (P. 0. Miami), Fla.
-BOND OFFERING.
-Proposals
will be received up to and including Jan. 6 1913 by Z. T. Merritt, Clerk of
Circuit Court and Clerk Board of Co. Commrs.., for the $175,000 (of an
Issue of $300,000) 5% funding and highway impt. bonds voted Sept. 17
'
,
(V. 95, p. 844). Denom. (325) $100, (125) 3500. (80) $1,000. Date
Jan. 11913. Int. J.& J. Due Jan. 11933,optional beginning Jan. 11923.
A bond for 5% of bonds bid for, payable to the Co. Treas., is required. All
of said bonds have been validated by decree of the Court. Purchaser to
pay accrued interest. No bids will be entertained for less than 95% of
par value of bonds. Bids to be made on forms furnished by the county.
DALLAS, Texas.
-BOND SALE.
-The $525,000 (the unsold portion
of $725,000) 434% gold coup. bonds(V.95, p. 1634) were awarded on Dec.
18 to the Dallas Trust & Savings Bank of Dallas for $525,050 (100.009)
and int. The bonds are to be delivered, $175,000 immediately; $100,000
on or before Feb. 1 $100,000 on or before March 1; $75,000 on or before
April 1 and $75,000 on or before May 1.
DAYTON, Ohio.
-BOND SALE.
-On Dec. 23 the $12,000 5% coup.
sewer assess. bonds (V. 95, p. 1635) were awarded to A. E. Aub & Co. of
Cin. at 106.13. Other bids follow
Seasongood & Mayer, Cin_ _$12,729!City Trust & Say. Bk., Day_312,608
Atlas Nat. Bank, Cin
12,724 Dayton Say.& Tr. Co.,Day. 12,551
Tillotson&WolcottCo., Cie
12,698 Sidney Spitzer & Co., Tol__ 12,527
Well, Roth & Co., Cin
12.6601
DAYTON SCHOOL DISTRICT (P. 0. Dayton), Montgomery
County, Ohio.
-BID.
-In addition to the successful bid of the Dayton
Savings & Trust Co. of Dayton at 100.3005 for the $200,000 4% school
bonds (V. 95, p. 1696), a bid of $200,440 was also received from Hayden,
Miller & Co. of Cleveland.
DEL ROSA SCHOOL DISTRICT, San Bernardino County, Cal.
BOND ELECTION PROPOSED.
-An election will be held in the near
future, it is reported, to vote on the question of issuing $20,000 bldg. bonds
DENTON COUNTY COMMON SCHOOL DISTRICT NO. 66, Tex.
BONDS AWARDED IN PART.
-On Dec. 10 the State Permanent School
Fund was awarded at par and int. $2,000 of an issue of $5,000 5% 40-yr.
bonds. Date Oct. 14 1912.
DEPORT INDEPENDENT SCHOOL DISTRICT (P. 0. Deport),
Lamar County, Tex.
-BONDS AWARDED IN PART.
-The State Permanent School Fund was awarded on Dec. 10 at par and int.43,000 of the
$13,000 5% 10-40-yr. (opt.) bonds (V. 95, p. 1427).
DES MOINES SCHOOL DISTRICT (P. 0. Des Moines), Ia.-BOND
ELECTION PROPOSED.
-According to reports, petitions for an election
to vote on the question of issuing the $400,000 school bonds(V.95, p. 1635)
are being circulated.
DE SOTO, Johnson County, Kan.
-BONDS VOTED.
-An election
held Dec. 9 resulted in favor of the proposition to issue electric-light bonds,
reports state.
DETROIT, Mich.
-NO ACTION YET TAKEN.
-The City Comptroller advises us that no action has yet been taken looking toward the issuance of the $100,000 garbage-incinerating plant-constr. bonds authorized
on Oct. 24 (V. 95, p. 1289.)
DILLON SCHOOL DISTRICT (P. 0. Dillon), Beaverhead County,
Mont.
-BONDS AUTHORIZED.
-The issuance of$30,000 5 %high-schoolcons, bonds was recently authorized. Denom. $1,000.
-BOND OFFERING.
DINUBA, Tulare County, Cal.
-Further details are at hand relative to the offering on Jan. 10 1913 of the $42,000
5%% gold coupon sewer bonds (V. 95, p. 1696). Proposals for these
bonds will be received until 8 p. m.on that day by Ross Morton,City Clerk.
Auth. vote of 291 to 13 at the election held Nov. 19. Denorn. $525. Int.
J. & J. at the City Treas. office. Due $1,050 yrly on Jan. 1 from 1914 to
1953 incl.
DORCHESTER COUNTY (P. 0. Cambridge), Md.-BOND OFFERiNG.-Proposals will be received until 2 p. m. Jan. 7 1913 by the County
Commrs., W. H. Spedden. Clerk and Treas., for $25,000 5% coupon road
bonds. Denom. $500. Date July 1 1910. Int. J. & J. Due $2,500
yearly Jan. 1 from 1922 to 1931, incl. Bonds are exempt from county and
municipal taxation. Cert. check for 3500, payable to the County Commrs.
required.
DOW CITY, Crawford County, Iowa. PRICE PAID FOR BONDS.
The price paid for the $5,000 6% (not 5% as first reported) electric-light,
plant bonds awarded during October to Sears McHenry (V. 95, 13. 1696)
was par. Denom.$1,000. Date Dec. 1 1912. Int. ann.in Dec. Due 20
years, opt. at any int. paying period.
-BONDS DEFEATED.
EAST ROCHESTER, Monroe County, N. Y.
-The election held Dec. 21 resulted in defeat of the proposition to issue
the $25,000 sewer-extension bonds (V. 95, p. 1635). The vote was 12
"for" to 166 "against."
-The $18,000 4%%
EDGWOOD, Bucks County, Pa.
-BOND SALE.
11-26-year bonds offered on May 24 were purchased by the Mellon Nat.
Bank of Pittsburgh.
-BONDS REGISEL PASO COUNTY ROAD DISTRICT NO. 1, Tex.
TERED.
-Op Dec. 20 310,000 5% 20-40-yr. (opt.) road bonds were registered by the State Comptroller.
-BONDS REGISEL PASO COUNTY ROAD DISTRICT NO. 2, Tex.
TERED.
-The State Comptroller on Dec. 20 registered $70,000 5% 2040-yr. (opt.) road bonds.
-On Dee.24$160,000
-BOND SALE.
ELYRIA, Lorain County, Ohio.
cemetery, street and sewer bonds were purchased, it is stated, by Otis &
Co. of Cleveland.
ELYRIA CITY SCHOOL DISTRICT (P. 0. Elyria), Lorain County,
-BOND SALE.
-On Dec. 24 the $300,000 4% 11-30-yr. (ser.) add.Ohio.
school-equip. bonds (V. 95, p 1635) were awarded to the Cleveland Trust
Co. In Cleve. at 100.03 and int.
ENTERPRISE IRRIGATION DISTRICT (P. 0. St. Anthony),
-No award has
-BONDS NOT YET SOLD.
Fremont County, Idaho.
yet been made of the $20,000 funding bonds offered without success on
• Pen. 7(V. 94, p. 998.)
ESSEX FELLS SCHOOL DISTRICT (P. 0. Essex Fells), Essex Coun-Proposals will be received until 9 p. m.
-BOND OFFERING.
ty, N. J.
Jan. 17 1913 by H. A. Miller, Dist. Clerk, for the $35,000 4)-% school
bonds voted May 21 (V. 95, p. 374). Denom. $1,000. Date Jan. 11913.
Int. J. & J. at Montclair Trust Co. In N. Y. exchange. Due Jan. 11943.
Cert. check on an incorporated bank of trust company for 2% of bonds
bid for, inyable to J. A. Speer, Custodian of School Moneys, required.
Bonds will be certified as to genuineness by the Columbia-Knickerbocker
Trust Co. of N. Y. and their legality will be approved by Hawkins, Dela,
field & Longfellow of N. Y., whose opinion will be furnished the successful
bidder. Delivery Jan. 211913, unless a subsequent date shall be mutually
agreed upon. Purchaser to pay ace. int. Bids must be made on blank
forms furnished by district. Bonds may be registered as to principal
only or converted into registered bonds payable, both principal and interest. to the registered holder.
EUGENE SCHOOL DISTRICT NO.4 P. 0. Eugene), Lane County,
Ore.
-BOND SALE.
-On Dec. 18 the $20,000 5% 10-20-yr. (opt.) sitepurchase bonds dated Jan. 1 1913 (V. 95. P. 1560) were awarded to the
Harris Trust & Say. Bank of Chic. at 100.58. Other bids follow:
Causey, Foster & Co., Denv_$20,112 A. J. Hood & Co., Detroit_ _ _320,026
John Nuveen & Co., Chicago 20.066 J. N. Wright & Co., Denver_ 20,025
R. M. Grant & Co., N. Y___ 20,042 Bolger,Mosser&I,Villaman,Cid 20,011
State Bank of Seattle, Seattle 20,041 Well, Roth & Co., Chicago__ 20,000
Interest January and July.
-The
-DESCRIPTION OF BONDS.
EVANSTON, Cook County, Ill.
3180,000 4% gold coupon water-filtration-plant-constr. bonds voted Dec. 16
(V. 95, p. 1696) are in the denom. of $1,000 and dated March 11913. Int.
J. & J. at the City Treas. office. Due on July 1 as follows: $5,000 yearly
from 1914 to 1927 incl., $20,000 yrly from 1928 to 1931 incl. and $30,000
in 1932.
EVERETT, Wash.
-On Dec. 18 $47,356 62 local impt-BOND SALE.
bonds were awarded to J. E. Price & Co. of Seattle, reports state, for $47..
making the price 101.008.
834,
-The Churchill
FALLON, Churchill County, Nev.-BOND SALE.
County Bank In Palion was awarded on April 5 at par the $15,000 6% light
bonds (V. 94, p. 367). Denom. $500. Date April 5 1912. Int. J. /40.
Due $1,500 yearly Jan. 1 1923 to 1932, inclusive.
DEC. 28 1912.]
THE CHRONICLE
-LOAN AUTHORIZED.
FALL RIVER, Bristol County, Mass.
Reports state that the Board of Aldermen recently authorized a loan of
$15,000 for wages of city laborers.
-The
-BOND SALE.
FORT EDWARD, Washington County, N. Y.
Fort Edward Nat. Bank was awarded, for $16,623 67 for 4.60s,the $16,606 67 paving bonds offered on Aug. 3 1912.
-BIDS REJECTED.
-All bids
FOSTORIA, Seneca County, Ohio.
received on Dec. 24 for the eight issues of 4%% street, sewer and park
tmpt. bonds, aggregating $95,280, offered on that day, were rejected,
reports state.
-Proposals
FOWLER, Fresno County Cal.-BOND OFFERING.
will be received, it is stated, until 8 30 p. m. Jan. 7 1913 by the Board of
Trustees for the $20,000 5% sewer-constr. bonds voted Oct. 8 (V. 95,
p. 1070).
FOWLER STATION SCHOOL DISTRICT NO. 13 (P. 0. Star),
-BOND ELECTION PROPOSED.
-Reports state
Ada County, Idaho.
that an election will be held in the near future to yoto on the question of
issuing building bonds.
FRANKLIN COUNTY (P. 0. Columbus), Ohio.
-BOND SALE.
On Dec. 26 the 527,4004% 11%-year (average) tuberculosis-hospital bonds
(V. 95, p. 1560) were awarded to the Ohio Nat. Bank in Columbus at par
and interest.
-BOND ELECTION
FRANKLIN COUNTY (P. 0. Meadville), Miss.
-It is stated that the voters will decide some time next month
PROPOSED.
-house bonds.
whether or not this county shall issue $40,000 court
FRIDAY HARBOR, San Juan County, Wash.
-BONDS VOTED.
By a vote of 182 to 51 the question of issuing $14,000 20-yr. (opt.) watersystem bonds at not exceeding 6% interest carried at an election held Dec.3.
FULLERTON UNION HIGH SCHOOL DISTRICT, Orange County,
-On Dec. 17 the $50,000 5% bldg. bonds (V. 95. p.
Cal.
-BOND SALE.
1560) were awarded to Torrance, Marshall & Co. of Los Angeles at 101.514.
Date Jan. 11913. Int. J. & J.
GALLIPOLIS, Gallia County, Ohio.
-BOND SALE.
-On Dec. 20
-year refunding bonds (V. 95. p. 1071) were awarded, it
the $18,000 4% 20
is stated, to the Atlas Nat. Bank of Cincinnati at 101.01.
GALVESTON COUNTY DRAINAGE DISTRICT NO. 3, Tex.
-This district has authorized the issuance of
BONDS AUTHORIZED.
$31,980 bonds, according to reports.
GARDEN CITY, Finney County, Kan.
-BONDS VOTED.
-At an
election held Dec. 17 the question of issuing $40,000 water and light
-plant
constr. bonds received a favorable vote, according to reports.
-BOND SALE.
*GENEVA, Ontario County, N. Y.
-On Dec. 12 the
three issues of 43 % bonds aggregating $45,700 (V. 95, p. 1560) were
awarded to Ladenburg, Thalmann & Co. of N. Y. at 101.07. Date Oct.
1, 1912. Int. A. 0.
GLENVILLE, Schenectady County, N. Y.
-BOND SALE.
-Myron
W. Greene of Rochester has purchased and is offering to investors $2,400
bonds of this town. Denom. $600. Date Oct. 1 1912. Due $600 yearly
March 1 1913 to 1916, inclusive.
GOULDSBORO, Wayne County, Pa.
-NO BONDS VOTED.
-We are
advised that the reports stating that this borough voted $3,000 electric
light-plant bonds (V. 95, p. 1289) are erroneous.
GRAND RAPIDS, Kent County, Mich.
-BOND SALE.
-On Dec. 23
the $100,000 4%% 20-yr. water-main-ext. tax-free bonds (V. 95, p. 1696)
were awarded to the Wm. R. Compton Co. of St. Louis at 104.17, int.
and blank bonds.
-Local papers state that the Council has authorized
BOND OFFERING.
the Mayor and City Clerk to sell $225,000 street impt. and 675,000 sewerconstruction bonds.
ORANGEVILLE IND. SCHOOL DISTRICT NO. 2 (P. 0. Orange-BOND OFFERING.
ville), Idaho County, Idaho.
-Proposals will be
received, reports state, until 1 p. m. Jan. 3 1913 by the trustees for $61,000
coup. bonds. Cert. check for $3,000 required.
GREENSBORO, Guilford County, No. Caro.
-BOND OFFERING.
Proposals will be received until 2:30 p. m. Jan. 9 1913 by T. J. Murphy,
Mayor, for $25,000 street-impt., $10,000 water and sewerage and $15,000
city-market 5% 30-yr.coup. bonds. Denom.$1,000. Int. P.& A. Cert.
check for 2% of bonds bid for, payable to the Treas., required. Bonds
will be certified by the U. S. Mtge. & Trust Co. of N. Y. and the validity
has been passed upon by Caldwell, Masslich & Reed of N. Y.
-Bids must be
made on blank forms furnished by the city. Purchaser to pay accrued int.
These bonds are the unsold portion of the $130,000 voted July 23(V. 95, p.
769).
GREENVILLE, Hunt County, Tex.
-BOND SALE.
-Well, Roth &
Co. of Cin. were awarded at 101, reports state, the 75,000 5% paving
bonds voted Dec. 9 (V. 95, p. 1697).
HAMILTON, Butler County, Ohio.
-BOND SALE.
-On Dec. 23 the
three issues of bonds aggregating $46,667 70 were awarded to the Atlas
Nat. Bank of Cincinnati, it is stated, as follows: $25,000 4% 20
-year
street-impt. bonds (V. 95, p. 1487) at 100.68; $12,000 4% 15
-year bridge
bonds (V. 95, p. 1560) at 100.75 and $9,667 70 434% 1-10
-year (serial)
street-impt. bonds (V. 95, p. 1487) for $9,865 90
-making the price102.05.
HAMILTON, Hamilton County, Texas.
-BONDS REGISTERED.The $8,000 5% 20 -year (opt.) water-works bonds (V 95, p. 561) were
-40
registered by the State Comptroller on Dec. 19.
HANFORD, Kings County, Cal.
-BOND OFFERING.
-Proposals will
be received until 8 p. m. Jan. 20 1913 by D. Williams, City Clerk, it is
stated, for the following two issues of 5% gold coup. bonds(V. 05, p.1560).
$80,000 sewer-constr. bonds. Denom. $1,000. Due $2,000 yrly. on
Nov. 15 from 1913 to 1952 incl.
25,000 fire-dept.-impt. bonds. Denom. $625. Due $625 yriy. on
Nov.•15 from 1913 to 1952 incl.
Date Nov. 15 1912. Int. M. & N. at office of City Treasurer.
-BONDS OFFERED BY BANKERS.
HELENA, Phillips County, Ark.
-harry F. Stix of St. Louis is offering to investors $30,000 534% Dist.
No. 6 street-impt. bonds. Date Sept. 16 1912. Int. J. & J. at the Say.
Trust Co. in St. Louis. Due from Jan. 1 1914 to 1922.
HERKIMER, Herkimer County, N. Y.
-BOND OFFERING.-T. M. Grogan, Pres. of Bd. of Trustees, will offer at public auction at
10 a. in. Jan. '7 1913 $3.650 21 paving bonds. Date Jan. 7 1913. Int.
(rato to be named in bid) J. & J. Due $1,000 Jan. 7 1914 and 1915 and
$1,650 21 Jan. 7 1916.
HERMISTON SCHOOL DISTRICT, Umatilla County, Ore.
-BOND
SALE.-Causey, Foster & Co. of Denver have been awarded the $5,000
bonds recently voted. (V. 95, p. 1226.)
HINCKLEY, Dekalb County Ill.-BONDS VOTED.
-Newspaper
reports state that the proposition to issue $12,000 bonds to establish a waterplant carried at a recent election.
HOOD RIVER, Ore.
-BOND SALE.
---Terry, Briggs & Slayton o•
Toledo were awarded at par and int., it is stated,$55,000 water-syst. bondsj
HUBBARD, Trumbull County, Ohio.
-BOND SALE.-Seasongood &
Mayer of Cincinnati were awarded the following 5% coup, bonds offered
on Feb. 19 (V. 94, p. 505):
$3,000 1-10
-year (ser.) sanitary sewer (village's portion) bonds at 103.90.
23,000 53 -year (ay.) sanitary sewer assess, bonds for $23,941, making the
price 104.091.
HUNTINGTON BEACH, Orange County, Cal.
-BONDS RE
AWARDED.
-We are advised that on Nov. 23 $70,000 5% 1-40-yr. (ser.)
coupon municipal-wharf bonds were re-awarded to the State of California
at par and interest. These are the same bonds awarded on July 1 to N. W.
Halsey & Co.of San Fran.(V.95, p. 128), but subsequently refused by them,
owing to a technicality found in the ordinance providing for the issuance
of the bonds.
HYDE PARK, Dutchess County, N. Y.
-BOND SALE.
-We have
just learned that Isaac W. Sherrill of Poughkeepsie was awarded $13,500
building and Fred Bodenstein_purchased $495 fire-house 5% bonds offered
on Jan. 3 1912 at par. Date Dec.6 1911. Due part yearly from Dec.6
1913 to 1921.
INDIANAPOLIS, Ind.
-BOND OFFERING.
-Proposals will be received until 12 m. Jan. 20 1913 by II. R. Wallace, City Comp.,for $75,000
4% coupon fire headquarters and city garage-building bonds. Denom.
$1,000. Date Feb. 11913. Int. J. & J. at Indiana Nat. Bank of Indianapolis. Due Feb. 11918. Cert. check upon some responsible Indianapolis
bank for 23.% of bonds bid for, payable to the City Treas., required.
Bonds to be delivered within 30 days from Feb. 1,
1763
INDIANAPOLIS SCHOOL CITY (P. 0. Indianapolis), Marion
County, Ind.
-BOND SALE.
-On Dec. 23 the $75,000 4% 31-yr. (ay.)
coup. school-real-estate and impt. tax-free bonds (V. 95, p. 1635) were
awarded to Breed, Elliott & Harrison and Miller & Co. of Indianapolis for
$77,063, making the price 102.75. Other bids follow
Meyer-Keiser Bank, Ind_$76,712 50 E.M.Camp bellSonsCo.,In375,885 84
J. F. Wild & Co., Ind_ __ 76,506 00 Payne, Bush & Co.,Ind__ 75,300 00
Fletcher-Am.Nat.Bk.,Ind 76.500 00 Indiana Trust Co., Ind__ 75,000 00
INGERSOLL, Alfalfa County, Okla.
-On Dec. 5
-BOND SALE.
$5,000 6% 25-year electric-light bonds were awarded to A. C. Hanson.
Denom. $1,000. Date Dec. 1 1912. Int. F. & A.
JACKSON COUNTY DRAINAGE DISTRICT NO .3, Tex.
-BOND
SALE.
-On Dec. 20 the $64,950 5% drainage bonds (V. 95, p. 1635) were
awarded to the J. B. Arpin Dredging Co. at par and int. Denom. $1,000.
Date Oct. 10 1912. Int. A. & 0.
JACKSON TOWNSHIP SCHOOL DISTRICT (P. 0. No. Jackson),
Mahoning County, Ohio.
-BOND SALE.
-On Dec. 19 the $10,000 55
6U-yr. (aver.) school-constr. bonds (V. 95, p. 1560) were awarded to,
Hayden, Miller & Co. of Cleveland at 102.10 and int. Other bids follow:
Spitzer, Rorick & Co., Tol_ _310,211!Weil, Roth & Co., Cin
1510,050'
KANSAS CITY, Mo.-BIDS REJECTED.
-All bids received on Dee. 19
for the $200,000 4% water-works-impt. and $200,000 434% sewer coupon
bonds(V.95, p. 1561) were rejected.
KEMPER COUNTY (P. 0. DeKalb), Miss.
-BOND SALE.
-TheCounty Trees advises us that the $75,000 court-house-constr. bonds(V. 95,
p. 846) have been sold.
KENMORE, Summit County, Ohio.
-On Dec 21 the
-BOND SALE.
-year water-works-constr. and $70,000 25
$100,000 30
-year sewage-disposal
plant 4% bonds (V. 95, p. 1488) were awarded to Spitzer, Rorick & Co. of'
Toledo. No other bids were received.
KENNEDY HEIGHTS SCHOOL DISTRICT (P. 0. Silverton),
Hamilton County, Ohio.
-PURCHASER OF BONDS.
-The purchaser
of the $15,000 4% 40-yr. bldg. bonds sold on Dec. 19 at 101.10 and hit.
(V. 95, p. 1697) was Seasoiagood & Mayer of Cin. Other bids were as.
follows:
Brighton Germ. Bk. Co_$15,162 50 A. E. Aub & Co., Cin__$15,096 50
Well, Roth & Co., Cin___ 15,137.00 First Nat. Bk., Norwood_ 15,099 99
KEOKUK SCHOOL DISTRICT (P. 0. Keokuk), Lee County, Ia.BOND ELECTION PROPOSED.
-Reports state that this place is to vote
next month on the issuance of $50,000 school-constr. bonds.
LARCHMONT, Westchester County, N. Y.
-BOND SALE.
-On
Sept. 10 the $5,500 fire bonds (V. 95, p. 637) were awarded as 4.75s to.
Douglas Fenwick & Co. of N. Y.for $5,507 50, making the price 100.136.
LARGO, Hillsboro County, Fla.
-DESCRIPTION OF BONDS.
-The
$10,000 electric-light and water-works-plant-construction bonds recently
voted (V. 95, p. 1227) bear interest at the rate of 6% and are dated Dec. 10"
1912. Interest semi-annual. Due in 30 years.
LAWRENCE COUNTY (P. 0. Ironton), Ohio.
-BOND OFFERING.
-Proposals will be received until 12 m. Jan. 20 1913 by the Co. Commissioners for $40,000 4%% turnpike bonds. Auth. Secs. 7181, 7184 to 7187
incl., 7203 to '7207 incL, 7209 7217 to 7219 incl., Gen. Code. Denom.
Int. M. & S. at Co. Treas. Due Mch. 1
$1,000. Date Mch. 1 1913. '
1943. Cert, check for 2% of bonds bid for, payable to the Co. Treas.,
required. Bonds to be delivered and paid for on or before Mch. 11913.
BOND SALE.
-Reports state that 0. B. Fowler of Ironton purchased at
private sale on Dec. 20 at par the $10.000 4% 20
-year coupon tax-fne
bridge bonds offered without success on Dec. 16 (V.95, p. 1697).
LILLINGTON, Harnett County, No. Caro.
-BOND ELECTION.
An election will be held Jan. 15 1913 to decide whether or not this city
shall issue $15,000 5% water-works and sewerage bonds.
/LIMESTONE COUNTY (P. 0. Groesbeck), Texas.
-DESCRIPTION
OF BONDS.
-The 5150.000 5% Road Dist. No.4 bonds awarded on Dec.9
to the City Loan & Trust Co. of Gainesville at par and int.(V. 95, p. 1697)
are dated Aug. 1 1912. Int. F.& A. Due Aug. 1 1952, opt. in 10 years.
LINCOLN COUNTY SCHOOL DISTRICT NO. 1, Idaho.
-BONDS
TO BE ISSUED TO STATE.
-We are advised that the State will purchase
at par and int. the $1,000 6% bldg. bonds offered on Nov. 2.
LONDON, Madison County Ohio.-BONDS NOT SOLD.
-We are
advised that the ordinance authorizing the sale of the 55.0005% coup. inapt.
bonds on Jan. 16 1912(V 93, p. 1739) was repealed.
LONGVIEW INDEPENDENT SCHOOL DISTRICT (P. 0. Longview), Gregg County, Texas.
-BOND SALF.-The $7,500 5% 20-40
year(opt) bidg bonds registered on Dec. 10(V.95, p. 1697) have been sold
to the Commerce Trust Co. of Kansas City, Mo., at par and interest.
Denom. $500.
LORAIN, Lorain County, Ohio.
-BOND SALE.
-On Dec. 23 a bid
of $5,085 50 was received from A. E. Aub & Co. of Cincinnati for the
434% 6
-year (aver.) coup. street-impt. bonds (V. 95, p. 1488)•
LYONS, Tombs County, Ga.-BONDS VOTED.
-An election held
Dec. 18 resulted, it is stated, unanimously in favor of the proposition toissue $12,000 impt. bonds.
McARTHUR SCHOOL DISTRICT (P. 0. McArthur), Vinton
County, OW.
-BOND .SALE.
-The 325.0004% 17
-year (avge.) building
bonds offered on Dec. 16 (V. 95._p. 1561) were sold at private sale on
Dec. 20, it is stated, to the Vinton County Nat. Bank of McArthur at par.
MADISON COUNTY (P. 0. Huntsville), Ala.
-BONDS NOT YET-No award has yet been made ,we are advised, of the $50,000 434%
SOLD.
20-30-yr. (opt.) bonds (V. 93, p. 1805.)
-BOND SALE.
MARION, Marion County, Ohio.
-On Dec. 26 the
t.vo issues of4%% tax-ft ee bonds(V.95, p. 1636) were awarded,it is stated.
as follows
$3,376 street-impt. (city's portion) bonds to the City Nat. Bank for
$3,422 50 making the price 101.37.
17,800 funding bonds to Breed, Elliott & Harrison of Cincinnati, for
$18,026 76, making the price 101.27.
MATAGORDA COUNTY (P. 0. Bay City), Tex.
-BOND SALE.
We are advised that the 5100000 Palacios Precinct road-impt. bonds voted
Nov. 19 (V. 95, p. 1488) have been awarded to Spitzer, Rorick & Co. of
Toledo at par,interest and other considerations.
MERCER COUNTY (P. 0. Trenton), N. J.
-BOND SALE.
-On
Dec. 20 the 3207,000 434% 20-yr. coupon funding bonds (V. 95, p.1561)
were awarded to C. H. Venner & Co. of N. Y. at 100.533. Other bids
follow:
Harris, Forbes & Co.,N.Y.$207,912 871R.M.Grant & Co., N.Y_ _ _ _$207,207
MIDDLETOWN, Butler County, 01110.
-BOND OFFERING.
-Proposals will be received until 12 m.Jan. 20 by W. Gibbins, City Auditor,for
the following 434% bonds:
$16,290 00 sewer assessment bonds. Denom. (30) $500 and (10) $129.
Due $1,629 yearly from 1 to 10 years. Cert, check for $400
required.
19,730 00 Tytus Ave. impt. bonds. Denom. (30) $500 and (10) $473.
Due $1,973 yearly from 1 to 10 years. Cert. check for $500
required.
5,708 44 sidewalk, curb and gutter bonds. Due part yearly from 1 to
10 years. Cert. check for $200 required.
Date Dec. 11912. Int. semi-ann. at the Nat. Park Bank in New York.
MIDLAND, Beaver County, Pa.
-BOND SALE.
-On Oct. 28 the
$20,000 43 % tax-free bonds (V. 95, P. 1072) were awarded to C. E. Denison & Co. of Cleveland.
MILFORD CENTER, Union County, Ohio.
-BOND SALE.
-On
Dec. 23 the 53.000 5% 10-15-yr. (ser.) coup, refunding bonds (V. 95, p.
1488) were awarded to Sidney, Spitzer & Co. of Toledo for $3,087 (102.23)
bids follow:
and int. Other
Weil, Roth & Co., Cincinnati
$3,015
M. J. Mancount, Washington, D C
3,000
MILLCREEK TOWNSHIP SCHOOL DISTRICT (P. 0. Marysville),
Union County, Ohio.
-BOND SALE.
-On Dec. 20 $15,000 5% coupon
tax-free site and building bonds were awarded to the Farmers Nat. Bank in
Plain City at 100.665 and interest. Other bids follow:
Well, Roth & Co., Cincin_ _ _$15,075 I New First Nat. Bank,Colum $15,000
Denom. $750. Date Dec. 20 1912. Int. J. & D. at the Union Bank in
Marysville. Due $750 each six months from June 15 1914 to Dec. 15 1923.
inclusive.
MILWATTKIE, Clackamas County, Ore.
-BONDS PROPOSED.-Thfs
town, it is stated, is considering the issuance of $20,000 water bonds.
1764
THE CHRONICLE
MINNEAPOLIS, Minn.
-BONDS AUTHORIZED.
-A resolution was
passed Dec. 13 providing for the issuance of $150.300 4% coupon schoolimpt.-and-addition bonds. Denom. $50, 3100, $500 and $1,000. Date
Jan. 1 1913. Interest semi-annual. Due Jan. 1 1943.
CERTIFICATE OFFERING.
-Proposals will be received until 2 p. m.
Jan. 17 1913 by the Board of Park Commrs., J. A. Ridgeway, Sec., for
$7,358 50 certificates of indebtedness. Cert. check for 2% of bid, payable
to C. A. Bloomquist, City Treasurer, required.
MINSTER, Auglaize County, Ohio.
-BOND SALE.
-On Dec. 13
the $25,000 4% 4-53-yr. (ser.) street-impt. bonds voted July 9 (V. 95, p.
129) were awarded, it is stated, to Davies
-Bertram Co., Cin., at 100.02.
MONMOUTH, Warren County, 111.
-BOND ELECTION PROPOSED.
-Local papers state that the proposition to issue city-hall bonds will
probably be submitted to a vote at the spring election.
MONROEVILLE, Huron County, Ohio.
-BOND SALE.
-On Dec. 2
the $1,050 5% Ridge St. impt. assess. bonds (V. 95, p. 1488) were awarded
to the Farmers' & Citizens' Banking Co. at par and int.
-BONDS VOTED.
MONTGOMERY, Montgomery County, Tex.
An election held recently is said to have resulted in favor of the issuance of
$10,000 water-works bonds.
MORROW VILLAGE SCHOOL DISTRICT (P. 0. Morrow), Warren
County, Ohio.
-On Dec. 16 Well, Roth & Co. of Cinc.
-BOND SALE.
were awarded at 101.25 for 4345 the $40,000 school bonds offerrd as 4s
on Dec. 14 (V. 95, p. 1488).
MUSCATINE, Muscatine County,Iowa.
-BOND SALE.
-On Nov. 12
• 326,460 67, street-and-alley-paving bonds were awarded to the First Trust
& Savings Bank of Muscatine at par. Denom. 3100, 3200. $300 and $500.
Date Nov. 12 1912. Int. M.& S Due in or before 7 years.
MUSKOGEE, Muskogee County, Okla.
-BONDS VOTED.
-The election held Dec. 17 resulted in favor of the proposition to issue the $150,000
bonds (V. 95, p. 1636). The vote is reported as 1,241 to 209.
NEENAH, Winnebago County, Wis.-BIDS REJECTED.
-The bids
received on Dec. 24 for the $20,000 coup. water-works-refunding tax-free
bonds (V. 95, p. 1698) were rejected. A. B. Leach & Co. of Chicago submitted an offer for 434s, while the H. C. Speer & Sons Co., Chicago, bid
for 43
is.
BOND OFFERING.
-The above bonds are being re-offered as 434s, bids
to be opened Jan. 2 1913.
-H. C.
, NELSONVILLE, Athens County, Ohio.
-BOND SALE.
Cornstock of Nelsonville was awarded an issue of $1,636 67 5% streetimpt. bends offored on Aug. 1 at 102.44, we are advised.
-BOND SALE.
NEWBURYPORT, Essex County, Mass.
-On Dec. 20
$19,000 4% coupon Pleasant St.-Ext. Loan of 1912 bonds were awarded
to the Institution for Savings in Newburyport at 100.176 and int. Other
bids follow
Worcest. Nor. Saw. Fitchbg.100.17 Merrill, Oldham & Co., Bost.1150.059
Naumkeag Tr. Co.,Salem.
'
..100.16 N.W.Harris & Co., Inc.. Bost.100.045
Edgerly & Crocker, Boston.._100.148 Curtis & Sanger, Boston____100.01
Geo. A. Fernald & Co., Bos.100.1361
Denom. $1,000. Date Dec. 2 1921. Int. J. & D. at the Old Colony
Trust Co.in Boston. Due $2,000 yrly. Dec.2 1913 to 1921 incl. and $1,000
Dec. 2 1922.
-BOND SALE.
-Myron
NEW HARTFORD, Oneida County, N. Y.
W. Greene of Rochester has purchased and is offering to investors $3,000
bonds of this place. Denom. $300. Date Oct. 1 1912. Due $300 yrly.
March 1 1913 to 1922 incl.
NEW LEXINGTON, Perry County, Ohio.
-BOND SALE.
-Otis &
Co. of Cleveland were awarded at 101.379 the $1,800 4 ti % 2
-11-year
(serial) coupon Maple Heights St. (village's portion) impt. bonds offered
on July 22 (V. 94, p. 1781).
NEWPORT BEACH, Orange County, Cal.
-BOND OFFERING.
Proposals will be received, according to reports, until 2 p. m. Dec. 30 by
L. S. Wilkinson, City Clerk, for the $25,000 municipal light bonds (V. 95,
p. 1347).
-BONDS PURCHASED BY STATE.
NORTH DAKOTA.
-The following 4% bonds, aggregating $30,500, were purchased at par by the State
during November.
Amount. Purpose.
Date.
Due.
Name
Bicker Sch. Dist. No. 7 __ $900 Building Sept. 16 1912 Sept. 16 1932
Clear Lake Sch. D.No. 15_ 1,600 Building Sept. 16 1912 Sept. 16 1932
Dickinson Sch. D. No. 1_ _15,000 Funding Sept. 16 1912 Sept. 16 1932
St. John Sch. D. No.3____ 3,000 Building Nov. 12 1912 Nov. 12 1932
10.000 Building July 15 1912 July 15 1932
Sarles Spec. Sch. Dist
-BOND SALE.
-An issue of 330.000 paving
NORTH PELHAM, N. Y.
bonds offered on April 10 was awarded to Geo. M. Hahn of New York.
-BOND SALE.
-On Dec. 23
NORWOOD Hamilton County, Ohio.
the following bids were received for the five issues of 434% bonds aggrogating $139,667 45 (V. 95, p. 1488):
$50,000 $5,521 53 $3,500 $645 92
$80,0110
issue.
issue.
issue.
issue.
issue.
S'good & Mayer,Cin.*$84,496 00 $52,810 00
First Nat. Bk., Norw. 84,421 99 52,771 99 5,591 52 3,714 49*$645 92
Atlas Nat. Bk., Cin__ 84,064 00 52,550 00 *5,626 03 *3,718 75
West. Ger. Bank, On. 82,013 00 51,253 67
*53,17500
A.E. Atib & Co., Cin
52,760 00
Davies-BertramCo.,Cin
*It is stated that these bids were successful.
-BOND ELECTION
NUECES COUNTY (P. 0. Corpus Christi), Tex.
PROPOSED.
-An election will probably be called some time during the
early part of next year, it is stated, to vote on the propositions to issue $400-,
000 road-constr., 3100,000 causeway-constr. and $100,000 court-housebldg. bonds.
-Proposals will be
OCILLA, Irwin County, Ga.-BOND OFFERING.
received until 12 in. Jan. 3 1913 by E. S. Clifton, City Clerk, for $16,000
5% sewer bonds. Denom, $1,000. Date Jan. 2 1913. Int. annual.
Due $1,000 yrly. on Jan. 2 from 1931 to 1941 incl. and $2,000 Jan. 2 1911,
1942 and 1943. Cert. check for $500 required.
-BOND OFFERING.
OHIO CITY, Van Wert County, Ohio.
-Proposals will be received until 12 m. Jan. 6 1913 by 0. E. Warren, VII.
Clerk, for $4,000 434% coupon elec-light-and-system bonds. Auth.
Sec. 3939 and 3994 Gen. Code,also election held Nov. 5. Denom. $1,000.
Date Jan. 6 1913. Int. J. & J. at Farmers' Bank in Ohio Ci`y. Due
$2,000 Jan. 6 1914 and 1915. Cert. check for $250, payable to the Vii.
Treas., required. Bonds to be delivered within 10 days from time of award
Purchaser to pay accrued int. Bonded debt at present $6,000. No floating
debt. Assessed val. $508,150.
-This city, accord-BONDS PROPOSED.
OKLAHOMA CITY, Okla.
ing to reports. Ls contemplating the issuance of bonds to drill wells for oil,
gas or water.
-BOND OFFERING.
ONEIDA COUNTY (P. 0. Utica), N. Y.
-Proposals will be received until 11 a. m. Jan. 6 1913 by J. H. Carroll, County
Comptroller, for $150,000 4% % reg. funding tax-free bonds. Auth.
Chap. 11, Consol. Laws. Denom.$1,000. Date Jan. 2 1913. Int. J.& J.
at County Treas. office in N. Y. exchange. Due $15,000 yrly. on Jan. 2
from 1915 to 1924 incl. Cert. check for 1% of-bonds bid for, payable to
the Co. Treas., required. Purchaser to pay accrued int. Bids to be made
on blank forms furnished by county.
OPELOUSAS, St. Landry Parish, La.
-BOND SALE.
-On Dec. 18
the $16,000 sewerage-system-constr. bonds voted Oct. 30 (V. 95, p. 1290)
were awarded, it is stated, to the Interstate Trust & Banking Co. of New
Orleans at par, int. and expenses.
ORANGE COUNTY POOR DISTRICT NO. 1, N. Y.
-BOND SALE.
% hospital bonds offered on April 19 (V. 95, p. 1077)
-The $23,000
were awarded to the Newburgh Say. Bank. Date Dec. 1 1911. Due
S3,000 June 1 1913 and $5,000 yrly. from 1914 to 1917 incl.
OSSINING, Westchester County, N. Y.
-BOND SALE POSTPONED.
-We are advised that the sale of the $75,000 bonds offered on Oct. 22 was
postponed until next spring.
PENDLETON, Umatilla County, Ore.
-Terry,
-BOND SALE.
Briggs & Slayton of Toledo were awarded on Sept. 25 $12,300 846% 1-10-yr.
(opt.) street-inipt. bonds for $12,368 84 (100.55) and int. Denom. $500.
Date Oct. 1 1912. Int. A. & 0.•
-LOAN BILL ADVERTISED.
--In accordance
F' PHILADELPHIA, Pa.
with a resolution adopted by the Common Council on Dec. 19, the bill authorizing the creation of the $7,000,000 4% loan votel Nov. 5 (V. 95, p.
[VoL. Lxxxxv
1290) is being advertised. The proceeds of the loan will be used as follows:
$400,000 for the construction of main sewers; $400,000 for the construction
of branch sewers; $200.000 for the erection of now bridges; $600,000 for
the grading of streets; $150,000 for paving intersections and in front
of unassessable property; $500,000 for resurfacing asphalt streets; 3300,000
for improving country roads; $200,000 for repairs to streets; $300,000 for
the improvement of the water supply of West Philadelphia; $1,600,000
for the acquisition of land for harbor improvements and the construction
of wharves, &c.; $250,000 for the improvement of South Delaware Avenue;
$250,000 for the acquisition of land and construction of buildings for the
Philadelphia Hospital for Contagious Diseases and the Home for the Indigent; $100,000 for the purchase of fire apparatus; $200,000 for the erection
of new and the improvement of existing police and fire stations; $50,000
for the erection of a machine shop; $500,000 for the improvement of Fairmount and other parks; $900,000 for the payment of mandamuses, and
$100,000 for children's playgrounds. Denom. $100 and its multiples.
Reg. or coupon in form. Int. J. & J. at the fiscal agency of the city. Due
30 years after date, free from all taxes.
PIEDMONT SCHOOL DISTRICT, Alameda County, Cal.
-BOND
-PropsalOFERING.
will be received until 10 a. in. Jan. 6 1913 reports
state, by the Board of County Supervisors (P. 0. Oakland) for the $50,000
'
5% site-purchase and building bonds (V.95, p. 1695). Date Jan, 1 1913.
Due $1,000 yearly for 10 years and $2,000 yearly for 20 years.
PLAIN CITY, Madison County, Ohio.
-BOND SALE.
-On Dec. 23
the $3,500 434% water and light-plant-impt. bonds (V. 95, p. 1562) were
awarded, it is stated, to Spitzer, Rorick & Co. of Toledo for $3,502 75
making the price 100.078.
PLANADA SCHOOL DISTRICT (P. 0. Planada), Merced County,
-BONDS VOTED.
Cal.
-A recent election resulted unanimously in favor
of the proposition to issue $4,000 school bonds, according to reports.
POLYTECHNIC, Tarrant County, Tex.
-BONDS VOTED.
-The
proposition to issue the $15,000 5% 20-40-yr. (opt.) sewer bonds (V. 95,
p. 1426) carried by a vote of 117 to 82 at the election held Dec. 17. We are
advised that these bonds will be offered for sale about Feb. 1.
PORT HURON,St. Clair County, Mich-BOND SALE.
-On Dec. 17
the $75,000 444% bridge bonds (V. 95, p. 1637) were awarded to the Commercial Bank of Port Huron at 101.13 and blank bonds. Other bids follow:
Hoehler & Cummings,Tol.$75,512 501N.W.Halsey& Co., Chic_ _*$75,153
Cont. & Corn, Tr. & Saw.
Noble & Co. Det _ _ *75,075
,
Bank, Chicago
*75,487 501First Nat. Exch. Bank,Port
Detroit Tr. Co., Detroit_*75,300 001 Huron
75,000
*and blank bonds.
Denom. $1,000. Int. semi-ann. Due $5,000 yearly
PORT OF SEATTLE, Wash.
-BIDS.
-The following bids were received on Dec. 19 for the $2,350,000 4%% gold coup. bonds(V. 95,p.1637):
Cont. & Comm. Trust & Say. Bank, Chicago, G. H. Tilden & Co.,
Seattle, Chapman, Mills & Co.,Chicago
92.50
Dexter-Horton Nat. Bank, Seattle; Harris Trust & Say. Bank, Chic_ _92.31
Merchants' Loan & Trust Co., E. H. Rollins & Sons, A. B. Leach
& Co., N. W. Halsey & Co., Chicago
90.25
Action on the above bids was posponed.
PUT IN BAY, Ottawa County, Ohio.
-The two issues
-BOND SALE.
of 6% sewer bonds aggregating $3,000. offered on Dec. 5 (V. 95, p. 1348)
were awarded; the $2,600 issue to M.S. Pond of Somerset at 107.25 and the
$400 issue to the Commercial Nat. Bank of Sandusky at 101. Other bids
follow
Premium.
Premium.
Sec. Say. Bk. & Tr. Co., Tol___$1101Spitzer. Rorick & Col, Tel
$11
831Sidney Spitzer & Co., Tol___ _par.
First Nat. Bk., Barnesvill
Comm. Nat. Bank, Sandusky
261
-On Dec. 19 the
RACINE, Racine County, Wis.-BOND SALE.
$30,000
% garbage-incinerator bonds (V. 95, p. 1637) were awarded to
the First Nat. Bank of Racine at 100.75 and int. Other bids follow:
Spitzer,Rorick& Co., Tol__ ..*$30,261 Breed, Elliott & Harrison
$30,150
Chicago
John Nuveen & Co., Chic_ 30,215
_
*Check enclosed with bid not certi led.
Due $1,000 yrly. on Nov. 1 from 1913 to 1927 incl. and $3,000 yrly. on
Nov. 1 from 1928 to 1932 incl.
RAPID CITY SCHOOL DISTRICT.(P. 0. Rapid City), Pennington
-The Secy. Bd. of Ed. advises
County, So. Dak.-BONDS NOT SOLD.
us that the $60,000 5% 5-20-yr. (opt.) floating debt refund. bonds (V. 95,
p. 771) have not yet been disposed of.
-BOND SALE.
-On Dec. 23
RAVENNA, Portage County, Ohio.
the three issues of 434% impt. bonds aggregating $50,000 (V. 95, p. 1489)
were awarded to Seasongood & Mayer of Cin. at 102.022 and int. Other
bids follow
Tillotson&WolcottCo.,Cle.$50,934 001Spitzor,Rorick&Co.,Tol_ _$50,337 75
Sidney,SpItzer&Co., Tol_ 50,604 00 Otis & Co., Cleveland..___ 50,300 00
REDONDO BEACH, Los Angeles County, Cal.
-BONDS DE-The question of issuing the $30,000 park-site-purchase bonds
FEATED.
(V. 95, 14. 1562) was defeated at the election held Dec. 18. According to
reports, the vote was 261 "for" and 210 "against," a two-thirds majority
being necessary to carry.
-BOND
RICHFIELD SCHOOL DISTRICT, Tehama County, Cal.
SALE.
-On Dec. 20 $7,000 6% school bonds were awarded to the Herbert
Kraft Co. for $7,429 40, making the price 106.13. Other bids follow:
Bank of Tehama County_ __ _$7,325 First Nat. Bank, Barnesville_$7,051
Capital Nat. Bank, Sacramento7,112 G. G.Blymyer & Co., San Fr_ 7,001
Denom. $1,000. Date Dec. 2 1912. Int. ann. In Dec.
-BOND SALE.
-On Nov. 26
RICHWOOp, Union County, Ohio.
-year (average) sidewalk-construction bonds (V. 95, p.
the $4,000 4%% 5
1290) were awarded to the Citizens' Nat. Bank of Wooster at 101.40.
RIPLEY TOWNSHIP (P. 0. Greenwich), Huron County, Ohio.
-On Dec. 21 the $25,000
BOND SALE.
% 7 1-3-yr. (ay.) coup. tax-free
road-impt. bonds (V. 95, p. 1562) were awarded to the First Nat. Bank of
Greenwich at 101.40 and int. Other bids follow
Spitzer,Rorick&Co., Tol_$25,202 501Well, Roth & Co., Cin__ _$25,130 00
-BOND ELECTION.
-The
RIVERSIDE, Riverside County, Cal.
water bond election (V. 95, p. 1562) will be held Jan. 14 1913 ,according
local papers.
to
-BONDS AUTIIORIZED.-Common Council on
ROCHESTER, N. Y.
Dec. 24 authorized the issuance of $1,850,000 436% bonds to take up a
like amount of water-works notes and $520,000 4%% bonds to refund a liko
amount of Rochester & State Line Railroad bonds.
BOND OFFERING.
-Proposals will be received until Jan. 9 1913, it is
stated, by the City Treas., for various 434% bonds aggregating $6,179,090.
-On Dec. 23 the
ROCHESTER, Beaver County, Pa.
-BOND SALE.
$40,000 434% coup. tax-free bonds (V. 95, p. 1699) were awarded to J. S.
& W. S. Kuhn, Inc., of Pittsburgh at 102.25. Other bids follow
Otis & Co., Cleveland
$40,810 Graham & Co., Philadelphia..$40,412
Harris.Forbes & Co.,N. Y 40,768 Lawrence Barnum & Co.,
Pittsburgh
40,150
Safe Deposit & Trust Co_ __ _ 40,542
The sale of these securities on Oct. 7 to Otis & Co. of Cleve. (V. 95,
p. 997) was not consummated.
-BOND OFFERING.
ROCKFORD, Mercer County, Ohio.
-Proposals
will be received until 3 p. m.Jan. 14 by A. Karns, Village Clerk, for $6,000
5% coupon refunding bonds. Denom. $500. Date Oct. 1 1912. mt.
A. & 0. at Village Treasurer's office. Due part yearly on Oct. 1 from 1920
to 1931, incl. Cert. check (or cash) for $300, payable to the Village
Treasurer, required.
ROCKPORT (P. 0. West Park), Cuyahoga County, Ohio.
-BOND
-On Dec. 21 the $20.000 4% %30-yr. water-main-constr. bonds
SALE.
(V. 95, p. 1426) were awarded to Seasongood & Mayer of Chi. at 106.55
and Int. Other bids follow:
Tillotson & Wolcott Co., Cle_$21,13410tis & Co. Cleveland
37
$ 2:
Hayden, Miller & Co., Cie__ 20,860 Sidney, Spitzer & Co., Toi_ _21810
-The
ROWLESBURG, Preston County, W. Va.-BOND SALE.
$9,000 water-works and $2,000 sewerage-system 5% coupon bonds offered
without success on Oct. 31 (V. 95, P. 1290) have been purchased by the
State School Board and a local bank.
-BOND SALE.
-On Dec. 17
RUTHTON, Pipestone County, Minn.
the $2,000 5% 10-yr. coupon refunding bonds(V.95, p. 1637) were awarded
to the Minn. Loan & Trust Co. of Minneapolis. No other bids were received.
b theEast ) Louis),
S
ST. CLAIR COUNTY SCHOOL DISTRICT (P. 0. East I t. secy
-We are advised
111.-NO ACTION YE7' TAKEN.
under date of Dec. 19 that no action will be taken looking towards the issuance of the $30,000 bonds (V. 95. p. 1349) until next March.
•
DEO. 281912.1
THE CHRONICLE
1765
ST. FRANCIS LEVEE DISTRICT (P. 0. Lake City), Craighead
$5,584 42 5%Heston St. No. 1 impt. assess. bonds. Denom.(1) $274 12,
-Reports state that a resolution
-BONDS AUTHORIZED.
County, Ark.
(9) $590. Date Nov. 10 1912. Int. M. & S. at the
was passed Dec. 21 providing for the issuance of improvement bonds.
Second Nat. Bank in Toledo. Due $274 12 Mch. 10 1914
and $590 each six months from Sept. 10 1914 to Sept. 1
-DESCRIPTION OF BONDS.
-The
SALEM, Marion County, Ore.
1918 incl.
326,316 22 (not $23,000 as reported in V. 95, p. 1637) 6% 1-10-yr. street1,735 89 Central Ave. No. 3 impt. assess. bonds. Denom. (1) $115 89,
impt, bonds awarded to the U. S. Nat. Bank at 101.30 are in the denom. of
(9) $180. Date Nov. 18 1912. Int. M. & S. at the Secand dated Nov. 1 1912. Int. M.& N.
$500 each
ond Nat. Bank in Toledo. Due $115 89 Mch. 1 1914 and
SAN AUGUSTINE INDEPENDENT SCHOOL DISTRICT (P. 0.
$180 each six months from Sept. 1 1914 to Sept. 1 1918 incl.
-BONDS AWARDED
San Augustine), San Augustine County, Tex.
774 88 5% sewer No. 1137 assess. bonds. Denom.(1) $114 88,(3) $220.
IN PAR7'.-The State Permanent School Fund purchased $2,500 of the
Date Dec. 3 1912. Int. M. & S. at Second Nat. Bank in
$10,000 5% 20-40-yr. (opt.) bonds(V. 95, p. 1428) on Dec. 10 at par & int.
Toledo. Due $11488 Mch. 3 1914 and $220 each six
-RESULT OF BOND ELECTION.
SAN FRANCISCO, Cal.
-The
months from Sept. 3 1914 to Sept. 3 1915 incl.
election held Dec. 20 (V. 95. p. 1426) to vote on the five propositions to
6,570 02 5% Utah St. impt. assess. bonds. Denom. (1) $270 02, (9)
issue bonds, aggregating $4,150,000, resulted as follows:
$700. Date Oct. 29 1912. Int. M. & S. at Second Nat.
Bonds Voted.
Bank in Toledo. Due 3270 02 Mch. 29 1914 and $700 each
For. Against.
six months from Sept. 1 1914 to Sept. 1 1918 incl.
$1,700,000 Hospital-and-jall-completion bonds
200,000 4% fire-apparatus-purcla. bonds. Denom. $1,000. Date Dec. 1
35,185 11,297
Bonds Defeated.
1912. Int. semi-ann. at office of U. S. Mortgage & Trust
For. Against.
Co., N. Y. Due Dec. 1 1928.
$700,000 Sutro Park purchase bonds
1,142 19 5% sewer No. 1136 constr. assess. bonds. Denom.(1) $242 19
28,616 17,495
800,000 Aquatic Park-site purchase bonds
23,201 22,265
and (3) $300. Date Nov. 27 1912. Int. M. & S. at Sec200,000 Twin Peaks'
-site-purchase bonds
ond National Bank in Toledo. Due $242 19 Mch. 27 1914
21,980 23,198
750,000 Police and fire-signal-system bonds
and $300 each six months from Sept. 27 1914 to Sept 27
_30.594 15,225
A two-thirds majority (31,492) was necessary to carry. The hospital
1915 incl.
bonds bear 4j % interest, will be dated April 1 1913 and will be due 17 years
(2
175,000 4% park and boulevard bonds, being part of an issue of $750,000
from April 1 1916.
voted Nov. 5 (V. 95, p. 1490). Denom. $1,000. Date
Sept. 1 1912. Int. semi-ann. at the U. S. Mortgage 8;
SAN JUAN COUNTY (P. 0. Aztec), N. Mex.-BOND SALE.
-On
Trust Co. of N. Y. Due Sept. 1 1936.
Dec. 12 the $30,000 5% road and bridge bonds (V. 95, p. 1426) were
150,000 4% water-works bonds. Denom. $1,000. Date Dec. 1 1912.
awarded to Keeler Bros. of Denver at 100.30, int. and blank bonds.
Int. semi-ann. at the U. S. Mtge. & Trust Co. in N. Y.
Other bids follow:
Due $50,000 on Dec. 1 in 1929, 1930 and 1931.
Sutherlin & Co., Kans. City_$30,100 Wm.E. Sweet & Co., Denv_329,430
BOND SALE.
-On Dec. 18 the following bids were received for the
J. N. Wright & Co., Denver_ 29,835 IHarris Tr.& Say. Bk., Chic__ 29,425
John Nuveen & Co., Chic_ _ _ 29,556)S. A. Kean & Co., Chic
28,500 $185,000 15-yr. bridge and $114,500 16-yr.4% coup. bonds(V.95, p. 1428):
M. McGee_ _$500 for one bond.
$185,000 issue $114.500 issue.
Causey, Foster & Co., Deny_ 29,450 Wm.
Hayden, Miller & Co., Cleveland
$185,555 00
Due Jan. 11943, subject to call beginning Jan. 11931.
3114,844 00
Stacy & Braun, Toledo
185,122 20
114,575 57
SANTA BARBARA, Santa Barbara County, Cal.
-BOND OFFER- Spitzer, Rorick & Co., Toledo
*115,118 30
ING.
-It is stated that proposals will be received until 8 p. m. Jan. 2 1913
by A. Davis, City Clerk, for $38,000 434% water-works-extension bonds.
* Successful bids.
int. annual. Cert. check for $3,800, required.
TULSA, Tulsa County, Okla.
-BONDS PROPOSED.
-This city is
SAN PATRICIO COUNTY COMMON SCHOOL DISTRICT NO. 6, considering the issuance of improvement bonds,
according to reports.
Tex.
-The State Permanent School Fund
-BONDS AWARDED IN PART.
TURON, Reno County, Kans.-BOND OFFERING.
-Proposals will
was awarded on Dec. 10 $2,000 of the $10,000 5% 40-yr. bonds (V. 95,
be received until Jan. 6 1913 by R. A. Greesin, City Clerk, for the $20,000
la• 1428) at par and int.
% water-and-elec.-light-plant bonds. Auth. vote of 192 to 71 at the
SAWTELLE, Los Angeles County, Cal.
-BOND ELECTION.
-This election held Dec. 10 (V. 95, p. 1562.)
place is considering the advisability of holding an election to vote on the
TWIN FALLS, Twin Falls County, Idaho.
-BOND OFFERING.
question of issuing school bonds, according to reports.
Proposals will be received until Dec.
SCHENECTADY, Schenectady County, N. Y.
-BONDS AU- 10 -year (opt.) water bonds voted30, it is reported, for the $150,000 6%
-20
Nov. 26 (V. 95, p. 1562). Denom.
THORIZED.
-An ordinance has been passed providing for the issuance of $
3100,000 garbage-disposal-plant bonds, reports state.
111INTA COUNTY
00.
SEDGWICK IRRIGATION DISTRICT, Logan and Sedgwick ING.-Proposals willSCHOOL DISTRICT NO.21, Wyo.-BOND OFFER"
be
m. Jan. 15 1913 by H. H.
-NO ACTION YET TAKEN.
'Counties, Colo.
--No further action has Harrison (P. 0. Auburn) received until 10 a. (opt.)
coupon school-houseyet been taken looking towards the issuance of the $670.000 bonds offered constr.-and-equip. bonds for $2,500 10-20-yr.
at not exceeding 6% interest. Denom. $500.
but not sold on Dec. 27 1910 (V. 92, p. 2110
Int. send-annual. Cert. check for $50. required.
SHERMAN COUNTY COMMON SCHOOL DISTRICT NO. 7, Tex.
UNION
-BONDS AWARDED IN PART.
-The State Permanent School Fund Furnace), FURNACE SPECIAL SCHOOL DISTRICT (P. 0. Union
Hocking County, Ohio.
-BOND OFFERING.
-Proposals
purchased $3,000 of the $11,500 5% 30-yr. bonds (V. 95, p. 1428) at par will be received until 12
m. Jan. 11 by F. J. Anthony, Clerk, for $15,000
and int. on Dec. 10.
5% school-house-constr. bonds. Auth. Sec. 7625 Gen. Code. and election
SHERMAN TOWNSHIP (P. 0. Monroeville), Huron County, Ohio. held Nov. 5. Denom. $750. Date Jan. 10 1913. Int. A. & 0.. Due
-BOND SALE -On Dec. 18 the $15,000 434% coupon road-impt. bonds $750 yrly. on Oct. 1 from 1914 to 1933 incl. Cert. check for 10% of bonds
V. 95, p. 1489) were awarded to the Toledo Fire & Marine Ins. Co. for bid for, payable to T. B. Trowbridge, Dist. Treas., required.
15,376 55 (102.51) and int. Other bids follow
VENICE CITY SCHOOL DISTRICT, Los Angeles County, Cal.
illotson& Wolc.Co.,Cley.$15,322 50ISidney Spitzer & Co.,Tol.$15,025 06
BONDS NOT SOLD.
-No bids were received on Dec. 16, it is stated for
Spitzer, Rorick & Co., Tol. 15,160 501
the 392,0005% bonds offered on that day (V. 95, p. 1563)•
SHOREY SCHOOL DISTRICT (P. 0. Topeka), Shawnee County
VENTURA COUNTY (P. 0. Ventura), Cal.
-NO ACTION YET
-A petition is being circulated,
-BOND ELECTION PROPOSED.
Kan.
'
-We are advised by the County Clerk, under date of Dec. 17,
reports state, calling an election to vote on the proposition to issue $7,000 TAKEN.
that no further action has yet been taken looking toward the issuance of
building bonds.
the $30,000 Oja Road District bonds(V.95, p.920.)
SMITH COUNTY COMMON SCHOOL DISTRICT NO. 63, Tex.
VIRGINIA, St. Louis County, Minn.
-BONDS VOTED.
-The pro-On Dec. 10 $600 of an issue of 31,200
BONDS AWARDED IN PART.
position to issue
5% 5-20-yr. (opt.) bonds registered on the same day by the State Comp- Electric Power the $450,000 bonds to purchase the plant of the Virginia
& Water Co.(V.95, p.1490) carried by a vote of 801 to 193
troller was awarded to the State Permanent School Fund at par and int.
at the election held Dec. 17.
Date Oct. 111912.
VOLLMER, Lewis County, Idaho.
-BOND SALE.
-On Dec. 7 the
SNOHOMISH COUNTY CONSOLIDATED SCHOOL DISTRICT
NO. 105, Wash.
-BOND OFFERING.
-Reports state that the Co. Treas. $10,000 6% 10-20-yr. (opt.) water-works bonds (V. 95. p. 1428) were
awarded to C. S. Kidder & Co. of Chicago. Denom.$500. Date Dec. 24
will receive proposals at Sultan for $18.000 school bonds.
1912. Int. J. & J. '
SOMERVILLE, Middlesex County, Mass.
-BONDS AUTHORIZED.
WAKEMAN TOWNSHIP (P. 0. Wakeman), Huron County, Ohio.
-The issuance of $35,000 4% coupon tax-free bonds has been authorized
-Proposals will be received until 12 m. Dec. 31 by
Denom. $1,000. Date Oct. 11912. Int. A. & 0. at Nat. Security Bank -BOND OFFERING.
W. G. Ferner, Twp. Clerk, for $50,000 4% coup. highway-impt. tax-free
In Boston. Due Oct. 11913.
bonds. Auth. Sec. 7033 to 7052 incl., Gen. Code, also
SOUTHAMPTON UNION FREE SCHOOL DISTRICT NO. 6 (P. 0. Denom. $500. Date Dec. 15 1912. Int. J. & D. at election held Dec. 3.
the Wakeman BankSouthampton), Suffolk County, N. Y.
-BOND SALE.
-On Dec. 16 ing Co.in Wakeman. Due $2,500 yrly. on Dec. 15 from 1914 to 1921 incl.
$116,000 454% school bonds were awarded to Parkinson & Burr of N. Y.
yrly. on Dec. 15
for $116,203 35, making the price 100.114. Denom. $1,000. Date and $3,000 the one making from 1922 to 1931 incl. Cert. check on a bank
other than
57 of bonds
o
350,000 Jan. 1913 and 366.000 May 1913. Int. ann. in Jan. Duo $4,000 Township Clerk, required. the bid forbe delivered bid for, payable to the
Bonds to
within 10 days from time
yearly Jan. 1 1914 to 1942 incl.
of
Purch. to pay acc. int. Bonded debt at present, $15,000.
STEUBENVILLE, Jefferson County, Ohio.
floatingdebt. Assess. val. 1911, $2,600,000.
-BOND SALE.
-On Noaward'
Dec. 23 the $4,000 4 Y.,% garbage-incinerating-plant-constr. bonds (V. 95,
WAYNE COUNTY (P. 0.
Ohio.
-BOND SALE.
-On Dec.
p. 1489) were awarded, reports state, to Thomas Johnson of Steubenville 23 the $7,515 04% Amstutz Wooster), 194 bonds
Ditch No.
(V. 95, p. 1490) were
at 100.25.
awarded to the Citizens' Nat. Bank for $7,592 15 (101.02) and int. A bid
SULLIVAN COUNTY (P. 0. Blountville), Tenn.
-PRICE PAID FOR of $7,540 was also received from Sidney Spitzer & Co. of Toledo.
BONDS.
-The price paid for the $200,000 4%% road bonds awarded to the
WELTON,
-The
First Nat. Bank of Bristol(V.95, p. 1699) was par and int. Denom.$1,000 proposition to Clinton County, Iowa.- BONDS DEFEATED.
issue $2,500 bonds failed to carry at an election held Dec. 17.
Date May 11912. Int. M.& N. Due $100,000 in 20 and 30 years.
WEST PITTSTON (P. 0. Pittston), Luzerne County, Pa.
-BOND
-BOND SALE.
-This city during November issued OFFERING.
TACOMA, Wash.
-Proposals will be received until 7:30 p. m. Jan. 6 1913 by
the following 7% special impt. assessment bonds aggregating 34,018 50.
A. II. Browning, Boro. Clerk, for 325,000 5% coupon general-impt.-taxAmount.
Date.
Purpose.
Due.
free bonds. Denom. $500. Date Jan. 1 1913. Int. J. & J. at West Side
Nov. 13 1912 Nov. 13 1922 Bank in West Pittston.
32,810 90 __Paving
Due Jan. 11938, optional beginning Jan. 1 1923.
1,001 55 __Water-main _
Nov. 13 1912 Nov. 13 1917 Cert, check for $200,
payable to the Boro. required.
89 05 __Sewers
Nov. 27 1912 Nov. 27 1917
WEST VIEW SPECIAL SCHOOL DISTRICT (P. 0. Zanesville),
117 00 __Grading
Nov. 27 1912 Nov.27 1917
Muskingum County, Ohio.
Bonds are subject to call part yearly.
-BOND OFFERING.
-P. P. Haines. Clerk
of Board, will offer at private
TAMPA, Hillsboro County, Fla.
-BOND SALE.
-On Dec. 11 the site-purch.-and-bldg.-constr. sale at 8 p. m. Dec. 31 $20,000 454(7 coup.
bonds. Auth. Secs. 7625, 7626 and 7627.
3500,000 5% 20-50-yr. (opt.) gold impt.bonds(V.95,p.1562) wereawarded Gen.
to the First Nat. Bank, the Exchange Nat. Bank, the American Nat. Bank Int. Code, and elec. held Dec. 2. Denom. $500. Date "day of sale."
J. & D. Due $500 each six months from April 1 1914 to Oct. 1 1933
and the Citizens' Bank & Trust Co., all of Tampa at 101.80.
incl. Bonds to be delivered and paid for before Jan. 11933.
TAYLOR SCHOOL DISTRICT (P. 0. Taylor), Williamson County,
We were advised last week
Tex.
-The State Comptroller registered on at private sale on Dec. 16. (Y.95, p. 1699) that these bonds had been sold
-BONDS REGISTERED.
Dec. 17 the $10,000 5% 10-40-yr. (opt.) school-house bonds voted Nov. 5
WEST VIEW TOWNSHIP (P. 0. Zanesville), Muskingum County,
(V• 95. D. 1699.)
Ohio.-DESCRIP7ION OF BONDS.
-The $20,000
% building
TAZEWELL cotrwrir (P. 0. Tazewell), Va.-BONDS NOT YET awarded on Dec. 16 i:o the State Security Bank at. 101.50 (V. 95, p.bonds
1699)
-The remaining $300,000 of the $500,000 5% road bonds,of which are in the denom. of $500 each and dated Dec. 311912. Int. A. & 0.
SOLD.
3200,000 were sold (V.94. p. 431) have not yet been sold. Denom.$1,000.
WESTWOOD, Bergen County, N. J.
-BIDS REJECTED.
-All bids
Date Jan. 11912. Int. J. & J.
received on Dec. 23 for the 329,000 5% 18-yr. (ay.) school bonds (V. 95.
THOMASVILLE, Davidson County, No. Caro.
-BOND
p. 1663) were rejected.
-I'roposals will bo received until Jan. 20 1913 for the $15,000 OFFERING.
BOND OFFERING.
-Proposals will again be received for these securities
water-works
and sewer bonds offered without success on Dec. 2 (V. 95, p. 1562.)
until 8 15 p. m. Jan. 10 1913, we are advised.
TROY, N. Y.
-BOND OFFERING.
-Proposals will be received until
PLAINS, Westchester County, N. Y.
WHITE
-BOND
10 a. in..an. 2 1913, it Is stated, by W. II. Dennin, City Comptroller,
for Proposals will be received until 8 p m. Jan. 14 1913 by OFFERING.
Geo. K. Cox,
3100,000 5% 8-mos. revenue bonds. Int. semi-ann.
Village Clerk, for $8,000 434% reg. water bonds. Denom. $1,000 Date
TOLEDO, Lucas County, Ohio.
-BONDS AUTHORIZED.
-Ordi- Dec.
Treas. office. Due Dec. 1 1922.
nances were passed Nov. 18 providing for the issuance of thefollowing5% Cert. 1 1912. Int. J. & D. at the VII. or
check on a State or national bank
trust company for 5% of bonds
coup. assess. bonds:
bid for, payable to the Vil. Treas., required. Purchaser to pay accrued
11,524 18 Eleventh St. No. 4 improvement bonds. Denom. (1) 384 18, hit. The legality of these bonds will be approved by Hawkins, Delafield
(9) 3160. Date Oct. 8 1912. Due $84 18 March 8 1914 and & Longfellow of New York, whose opinion will be furnished to the purchaser.
$160 each six months from Sept. 8 1914 to Sept. 8 1918 incl.
WICHITA COUNTY (P. 0. Wichita Falls), Tex.
1.826 04 Michigan St. No. 13 impt. bonds. Denom.(1) $116 04,(9) $190.
-BONDS CAN-The County Judge advises us that the 8150,000 Precinct No. 1
Date Oct. 4 1912. Due $116 04 March 4 1914 and 3100 each CELED.
road bonds offered without success on Nov. 15 1911 (V. 93, p. 1493) have
six months from Sept. 4 1914 to Sept. 4 1918 incl.
205 84 sower No. 1133 impt. bonds. Denom. (1) $25 84, (3)
been canceled.
Date Nov. 13 1912. Due $26 84 March 13 1914 and 360 00.
$60 00
WINNSBORO, Wood County, Texas.
-BONDS REGISTERED.
each six months from Sept. 13 1914 to Sept. 13 1915 incl.
The State Comptroller on Dec. 20 registered the $23.000 5(7 20-40
676 89 sewer No. 1130 constr. bonds. Denom.(1) $96 89 and (3)
-Yr.
$160.
v.t.) , ater 5 )
6 .
) 5 wp 7 works bonds sold on Aug. 21 to A. B. Wood of Dallas at par.
9
Date Oct. 26 1912. Due $96 89. Mch. 26 1913 and 3160 Sept.
26
1913 and $160 Mch. 26 and Sept. 26 1914.
Int. semi-annual at Second Nat. Bank in Toledo.
WISE COUNTY (P. 0. Wise), Va.-BOND ELECTION.
-It is reported
Ordinances have also been passed providing for the issuance of the follow- that a vote will be taken Dec. 31 in the Gladeville
District on the question
Ing coupon bonds:
of issuing $130,000 road bonds.
4
r
THE CHRONICLE
1766
-On Oct. 19 the
-BOND SALE.
WOOSTER, Wayne County, Ohio.
6% coupon assessment bonds, aggregating 316,956 (V. 95,
,
eight Issues of 43
lo• 848) were awarded to Otis & Co. of Cleveland at 101.76.
-BOND
YAKIMA COUNTY SCHOOL DISTRICT NO. 88, Wash.
SALE.
-On Dec. 14 the $2,000 coup. school-addition and equip. bonds
.95, p. 1491) were awarded to the State of Wash,at par for 5M % 1-20-yr.
o t.) bonds. Other bids follow
$2,000 for 5-20-yr. (opt.) 5;is.
Wm. D. Perkins & Co., Seattle
2,005 for 5-20-yr. (opt. 6s.
First Nat. Bank, Barnesville
L. N. Rosenbaum & Co., Spokane_ _ _ 2,000 for 5-20-yr. (opt. 6s.
-BOND ORDINANCE
ZANESVILLE, Muskingum County, Ohio.
-According to local papers, the ordinance providing for the
DEFEATED.
of $363,000 water-system bonds was defeated by the city Council
issuance
on Dec. 16.
ZANESVILLE SCHOOL DISTRICT (P. 0. Zanesville), Muskingum
-On Dec. 23 the $80,000 4% 40-yr. coup.
-BOND SALE.
County, Ohio.
high-schooltax-free bonds (V. 95, p. 1429) were awarded to the First Nat.
Bank of Zanesville at 101.35. Other bids follow
$80,240
Spitzer, Rorick & Co., Tol_ _$80,912 I Well, Roth & Co., Cin
Breed,Elliott&Harrison, Cin_ 80,625 I Field, Longstreth & Co., Cin-80,531
Canada, its Provinces and Municipalities.
-The Dominion SeAMHERSTBURG, Ont.-DEBENTURE SALE.
-installment
curities Corp. of Toronto has been awarded the $10,000 5% 10
debentures voted Way 14 (Y. 94. p. 1525), it is stated.
-The $2,000 8% impt.
BIRCH HILLS, Sask.-DEBENTURE SALE.
debentures offered by this place (V. 95, p. 1228) were awarded to W. L.
McKinnon & Co. of Toronto, it is stated.
BRIDGEBURG, Ont.-LOAN ELECTION.
-The proposition to borrow $25,000 for a town hall will be passed upon by the voters on Jan.6 1913.
COUNTY, Ont.-DEBENTURES A UTHORIZED.-A by-law
BRUCE
to raise $20,000 for bridges was recently passed by the Council, according
to reports.
-Reports state that five by-laws
CALGARY, Alta.
-LOAN VOTED.
providing for loans aggregating 3700,000, for additional fire-equipment,
fire-station-sites, street-railway-equipment and the extension of sewers and
municipal-plant, received a favorable vote on Dec. 20.
-DEBENTURE OFCALGARY SCHOOL DISTRICT NO. 19, Alta.
-Proposals will be received until 8 p. m. Jan. 14 by A. T. Jewitt,
FERING.
Sec.-Treas., for $25,000 10-ann.-installments and $950,000 40-ann.-installments 4Y6% school debentures.
CABRI, Sask.-DEBENTURE OFFERING.-Bids will be received, it
is stated, by J. W.'lepton, Sec.-Treas., for $3,500 sidewalk and road debentures.
-It is reported that
CHATHAM, Ont.-DEBENTURE ELECTION.
'on Jan, 6 1913 the ratepayers will have submitted to them a by-law which
provides for the issuance of $14,280 bridge-constr. cebentures.
-On
COLLINGWOOD TOWNSHIP, Ont.-DEBENTURE SALE.
Nov. 1 the $10,000 5% 15-yr. debentures (V. 95, p. 1292) were disposed of
at par.
CONNAUGHT (Rural Municipality No. 427), Sask.-DEBENTURES
-Reports state that the Council recently passed a by-law
AUTHORIZED.
authorizing tho issuance of $15,000 drainage debentures
-Ac-DEBENTURE ELECTION PROPOSED.
DARTMOUTH, N. S.
cording to reports, this place intends to vote on the issuance of not more than
$25,000 terminal-constr. debentures.
EAST GARAFRAXA, Ont.-DEBENTURE ELECTION PROPOSED.
-It is stated that the ratepayers will have submitted to them in the near
future a by-law which will provide for the issuance of $8,000 debentures.
-A vote will be taken on
ELMIRA, Ont.-DEBENTURE ELECTION.
Jan. 6 1913, it is stated, on the proposition to issue $20,000 electric-power
plant
-purchase and $10,000 bonus debentures.
-Reports
TOWNSHIP, Ont.-DEBENTURE ELECTION.
ERAMASA
state that on Jan.3 1913 the ratepayers will decide whether or not this place
shall issue $6,000 Rockwood police village hydro-elec. debentures.
-The ratepayers will
FORT WILLIAM, Ont.-LOAN ELECTION'.
vote Jan. 6, it is stated, on by-laws to raise $35,000 for the purpose of purchasing an incinerator plant, $10,500 for grading and graveling roads,.
$50,000 to enable the city to carry out its part of an agreement with the
Canada Steel Foundries, Ltd., and $140,000 for improving the electric
•
street railway.
-It is
GODERICH, Ont.-DEBENTURE ELECTION PROPOSED.
reported that this place intends to submit to the burgesses in January the
question of issuing 335,000 elec.-plant debentures.
-A by-lAw providing
HAMILTON, Ont.-DEBENTURE ELECTION.
for the issuance of $130.000 park debentures will be submitted to a vote of
the ratepayers at an election to be held Jan. 6 1913, according to reports.
-Proposals will be reKAMSACK Sask.-DEBENTURE OFFERING.
ceived until Jan. 15 1913 by A. A. Crawford, Sec.-Treas., for the $2,000
5 ann. installment hospital, 15,000 15 ann. Installment road-impt. and
$20,000 20 ann. installment town-hall 53.5% coup.'debentures (V. 95, p.
1638). Int. ann. at the Canadian Bank of Commerce, Kamsack.
-The
-DESCRIPTION OF DEBENTURES.
LETHBRIDGE, Alta.
£128,100 4 % coup. street, park, sewer, elec.-light, water-works and railway debentures recently offered in London (V.95, p. 1701) are in the denom.•
of £100 each. Int. J. & J. at the Bank of Montreal in London, Montreal,
Toronto or Lethbridge. Due Jan. 1 1942.
MARQUIS (Rural Municipality No.191), Sask.-DEBENTURE SALE
-We have just been advised that on Sept. 10 this district disposed of
% debentures.
$10.000
-No award has yet
MILDEN, Sask.-DEBENTURES NOT SOLD.
made of the $4,000 permanent-impt. debentures (V. 95, p. 1152).
been
MONTARIO (Rural Municipality No. 262), Sask.-DEBENTURE
OFFERING.
-Proposals will be received by H. Leach, Sec.-Treas. (P. 0.
Montario) for $5,000 road debentures.
-The $3,000 rink
MONTMARTRE, Sask.-DEBENTURE SALE.
debentures offered by this place (V. 95, p. 1564) were awarded to the Flood
Land Co. of Regina, reports state.
-The
MOOSE JAW, Sask.-DESCRIPTION OF DEBENTURES.
£257.500 5% coup. sewer, water-works, elec.-light and road debentures
(V. 95, p. 1701) are in the denom. of £100 each.
recently offered in London
Int. J. & J. at the Bank of Montreal in London, Montreal. Toronto or
Moose Jaw. Duo £126,000 Jan. 1 1951 and £131,500 Jan. 1 1952.
MOORE TOWNSHIP (P. 0. Brigden), Ont.-DEBENTURE OFFER-Proposals will be received until .Jan. 14 by C. C. Watson, Twp.Cierk,
ING.
for the $32,000 5% debentures to purchase the St. Clair and Brigden Rural
Telephone systems. These debentures were previously offered on Dec. 14.
V. 95. p. 1564.
NEW LOANS.
NEW LOANS.
$100,000
TOWN OF UNION, HUDSON COUNTY, NEW JERSEY
$275,000
SCHOOL BONDS
of the Town of
Public Notice is hereby given in accordance with a resolution of the Boord of Council,Board, on the
said
Union, in the County of Hudson, New Jersey, passed at a regular meeting of for the purchase of
sealed proposals
ninth day of December, Nineteen Hundred and Twelve, that
amount of One
school bonds, by the Town of Union, in the County of Hudson, New Jersey, in the Hundred and
Three
Hundred Thousand ($100,000) Dollars, the same being a part of an issue ofof said One Hundred
said issue
Thirty-four Thousand ($334,000) Dollar school bond, the part of each of said bonds to be of the
Series C;
Thousand ($100,000) Dollar school bonds to be known as interest at and after the rate of four and
denomination of One Thousand (31,000) Dollars, to bear
on thefifteenth days
one-half per cent per annum,said interest to be payable semi-annually, to-wit:day of January, 1913,
of January and July in each year, each of said bonds to be dated as of the 15th shall become due and
following manner, to-wit: five of said bonds
said bonds to be payable in the
payable on the Fifteenth day of January, Nineteen Hundred and Twenty-one, five of said bonds
Elball become due and payable on the Fifteenth day of January, Nineteen Hundred and Twenty-two,
Hundred
five of said bonds shall become due and payable on the Fifteenth day of January, Nineteen January,
day
and Twenty-three, five of said bonds shall become due and payable on the Fifteenth on of Fifteenth
the
Hundred and Twenty-four,five of said bonds shall become due and payable
Nineteen
payable
day of January, Nineteen Hundred and Twenty-five, five of said bonds shall become due and 130001110
on the Fifteenth day of January, Nineteen Hundred and Twenty-six, five of said bonds shall of said
the Fifteenth day of January, Nineteen Hundred and Twenty-seven, five
due and payable on
bonds shall become due and payable on the Fifteenth day of January, Nineteen Hundred and Twentyeight, ten of said bonds shall become due and payable on the Fifteenth day of January, Nineteen
Fifteenth
Hundred and Twenty-nine, ten of said bonds shall become due and payable on thepayable on day
the
due and
of January. Nineteen Hundred and Thirty, ten of said bonds shall becomesaid bonds shall become
of January, Nineteen Hundred and Thirty-one, twenty of
Fifteenth day
and Thirty-two, and ten of
due and payable on the Fifteenth day of January, Nineteen Hundred
and
said bonds shall become due and payable on the Fifteenth day of January, Nineteen Hundred Said
Thirty-three, until the whole of said Series 0 shall have been fully paid off and satisfied.
bonds to be registered or coupon, at the option of the bidder; bids will be received at the regular
meeting of the Board of Council, to be held on the Sixth day of January,Nineteen Hundred and
-thirty o'clock, p. m. at the Town Hall, at the southwest corner of Palisade Avenue
Thirteen, at eight
state
and Lewis Street, in the Town of Union, in the County of Hudson, New Jersey. Bidders to semiprices on bonds bearing interest at the rate of four and one-half per cent per annum, payable
of January and July in each year. All proposals to be directed
annually, to-wit: on the Fifteenth days
certified
to the Town of Union, in the County of Hudson, Now Jersey, and shall be accompanied by a or
check for the amount of Two Thousand (32,000) Dollars, drawn on any National Bankand Trust
State
Company doing business in the County of Hudson, New Jersey, or in the City. County
of New York, Borough of Manhattan, and made payable to the order of the Town of Union, in the
Hudson, New Jersey. The Board of Council of the Town of Union. In the County of
County of
Hudson, New Jersey, reserves the right to reject any and all bids, if deemed in the interest of the
Town so to do.
By order of the Council.
Dated Town of Union, N. J., December 9th, A. D. 1912.
EMIL BAUTZ JR.. Town Clerk.
Charles M. Smith & Co
CORPORATION AND
MUNICIPAL BONDS
IR= NATIONAL BANS BUILDING
CHICAGO
ESTABLISHED 1885.
H. C. SPEER & SONS CO.
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
SEASONGOOD & MAYER
Ingalls Building
CINCINNATI
BLODGET & CO.
BONDS
SO STATE STREET. BO8TO1V
Nat. Bank Bldg., Chicago
SO PINE STREET, NEW YORK
SCHOOL,
COUNTY AND MUNICIPAL BONDS STATE, CITY & RAILROAD BONDI
First
Village of Brockport,N.Y.,
WATERWORK BONDS
Sale of Bonds.
The Village of Brockport, New York, offers
for sale an issue of $275,000 00 of coupon bonds
of said village, $11,000 00 becoming due each year
beginning July 30, 1917, and the same amount
due each year thereafter until and including July
30, 1941, interest to be payable annually or semiannually,as the village and purchaser may agree.
Principal and interest will be payable at the Chase
National Bank of New York. The amount
realized from the sale of the bonds will be used
for the construction of a municipal water-works
system for the Village of Brockport, New York.
These bonds must be sold at not less than par
and the rate of interest cannot exceed five per
cent per annum. They will be sold to the person, firm or corporation who will take them at the
lowest rate of interest.
The successful bidder is to furnish the blank
bonds.
Each bid must be accompanied by a certified
check of $5,000 00 on a bank other than the one
making the bid, payable to the Village of Brockport, for the faithful performance of the bid.
Sealed proposals for said bonds will be received
until January 10, 1913, at 8 p. m. by Louis B.
which
Shay, Village Clerk, Brockport. N. Y., atBoard.
time the bids will be opened by the Village
The Board of Trustees reserves the right to
reject any or all bids.
Dated at Brockport, N. 1.. December 10, 1912.
L. G. GORDON,
Village President.
LOUIS B. SHAY,
Village Clerk.
$100,000.00
Jefferson County, Alabama,
Fifty-Year 43'%, s. a. ,Gold
Hospital Bonds
The Board of Revenue of Jefferson County.
Alabama. will receive sealed bids for the purchase of One Hundred Thousand Dollars of Four
and One-Half(43%) Per Cent, s. a., fifty-year
Gold Hospital bonds, on DECEMBER 31st. 1912,
at twelve o'clock M., at the office of the Board
of Revenue, Birmingham, Alabama. A certified
check for One Thousand Dollars shall accompany
each bid, which sum shall be forfeited to Jefferson
County, as liquidated damages, if the successful
bidder fails within thirty days thereafter to pay
for said bonds according to contract. The Board
all bids
reserves the right to reject any and approved
The legality of the above bonds will be
by Dillon, Thompson & Clay, Attorneys and
Counsellors at Law, of New York City, and a
copy of the opinion of the said attorneys will be
furnished to the successful bidder.
R. F. LOVELADY, President,
Board of Revenue of Jefferson County,
Birmingham. Alabama.
THE CHRONICLE
DEO. 28 1912.]
-It is stated that
-DEBENTURES AUTHORIZED.
NELSON, B. C.
-year sidewalk debentures.
this place is issuing $7,456 5% 10
-Proposals will
NEW DURHAM, Ont.-DEBENTURE OFFERING.
%
be received until Jan. 30 by P. Kelly, Clerk, it is stated,for $1,468 25 43.i
drainage debentures.
-It is stated
NEW LISKEARD, Ont.-DEBENTURES PROPOSED. sewer-constr.
that this place is contemplating the issuance of $10,000
debentures.
-No award was made
NOKOMIS, Sask.-DEBENTURES NOT SOLD.
6% 20
-installment
on Nov. 30 of the $5,000 rink and $5,000 street-impt.
debentures (V. 95, p. 1292).
URE OFFERONTARIO COUNTY (P. 0. Whitby), Ont.-DEBENTClerk for the
ING.
-Proposals will be received until Dec. 30 by the Co.
bridge-impt., de320,000 5% 20-annual-instaliment industrial-farm, and
- bentures.(V 95, p. 1000) voted Dec. 20. Int. ann.
-It is reported that on
OSHAWA, Ont.-DEBENTURE ELECTION.
upon.
Jan. 6 the question of raising $6,000 for a public market will be voted
-The question of raising $I .OTTAWA, Ont.-LOAN ELECTION.
the city's water-works will be voted upon on Jan. 61913.
100,000 to improve
-Proposals will be
-DEBENTURE OFFERING.
PENTICTON, B. C.
$30,000 40-yr.
received until Jan. 17 1913 by J. Gardner, Sec.-Treas., forsemi-annual.
Int.
school and $20,000 30-yr. street impt.5% debentures.
-H. W. Reeder, Sec.
OFFERING.
PERDUE, Sask.-DEBENTURE
Tress., will receive bids, reports state, for $3,500 skating-rink debentures.
reports,
-According to
ORT ARTHUR, Ont.-LOAN ELECTION.
Jan. 6 by-laws will be submitted to raise $30.000 for electric-light
tension, $35,000 for extension of telephone system, $10,000 for a market
$314,830 water-works extension, $7,260 for storm sewers, $6,500 for
e.
-100,000 to be paid Board of Education,
prevenient of power service, 3
,000 for electric-light system, $12,000 re-installation of the motor in the
wer plant and $6,550 for extension of Oreet railway.
PRINCE ALBERT, Sask.-DEBENTURE OFFERING.-Reports state
that this city has decided to sell $121,000 4.'-% debentures.
-The propo-DEBENTURES DEFEATED.
PRINCE RUPERT, B. C.
sition to issue the $1,400,000 sewer-system debentures (V. 95, p. 1564)
was defeated at a recent election, reports state.
-It is stated that
REGINA, Sask.-DEBENTURES AUTHORIZED.
y-laws were recently approved by the Council providing for the issuance of
t. (V. 95, p. 1564), $425,000 power-househe $825,000 street-railway-ex
onstr., $310,000 elec.-light-ext., $117,000 garbage-incinerator, $110,000
-remodelling
-bldg.
eneral hospital, $180,000 police-station. $7,500 market
nd $134,000 winter-fair-bldg. debentures.
Ont.-DEBENTURE ELECTION.-Tho voters will deENFREW,
cide on Jan. 6 1913 whether or not this place shall issue $3,200 bridge.onstr.,debentures, according to reports.
-No award was
ROSTHERN, Sask.-DEBENTURES NOT SOLD.
. -installment sidewalk debentures
made on Nov. 4 of the $10,000 53i% 20
(V. 95, p. 1075).
-0. It. Burgess & Co.
ST. VINCENT, Ont.-DEBENTURE SALE.
-installment debs.
of Toronto have been awarded, it is stated, $3,800 5% 20
-On Jan. 6
SAULT STE. MARIE, Ont.-DEBENTURE ELECTION.
1913 this place will vote on the issuance of $8,000 police-court-site-purch.,
-market
$15,000 incinerator, $10,000 culvert-constr. and $25,000 public
debentures.
-Reports state that
SHERBROOKE, QUE.-TEMPORARY LOAN.
this city has borrowed $400,000 from the Canadian Bank of Commerce at
,
5 % int. The loan is made under a recent ,a)-law providing for the bor
rowing of $615,000.
-The question of
STEELTON, Ont.-DEBENTURE ELECTION.
issuing $50,000 water-works-intake-pipe and pumping station debentures
will be submitted to a vote on Jan. 6 1913, it is stated.
-An election will
STRATFORD, Ont.-DEBENTURE ELECTION.
be held Jan.6 1913 to decide whetjier or not this place shall raise $15,000 for
athletic grounds, according to reports.
-According to
TILLSONBlIRG, Ont.-DEBENTURES NOT SOLD.
-installment
reports, no award was made on Dec. 16 of the $17,378 02 5% 30
debentures (V. 95, p. 1639).
1913 the voters
TRENTON, Ont.-LOAN ELECTION.
-On Jan. 6
will decide whether a loan of $4,000 shall be granted Montgomery & Co.,
Ltd., it Is stated
-J, S. Crozier, Sec.TUGASHE, Sask.-DEBENTURE OFFERING.
Treas., will, it is stated, receive bids for $4,000 skating-rink debentures.
WATFORD, Ont.-DEBENTURE OFFERING.-ProposaLs will be
received until Jan. 15 by W. S. Fuller, Vii. Clerk. for $4,450 5% 20-ann.
Installment granolithic-pavement debentures dated Dec. 15 1912 and $1,100
5% 10-ann. Installment public-library-site debentures dated Dec. 1 1912.
These debentures were previously offered on Dec. 16. V. 95, P 1639.
-On Jan. 6 1913 the
WELLAND Ont.-DEBENTURE ELECTION.
voters will decide whether or not this place shall raise $4,250 to defray cost
of water main, it Is reported.
-Reports state that the
WILKIE, Sask.-DEBENTURES VOTED.
voters have authorized the issuance of debentures for the following purposes:
$10,000 elec.-power-plant, $25,000 water-works, $1,100 road-grading,
S28,000 water-ext., $2,250 elec.-light-ext., $2,150 fire-protection and $8,000 skating rink.
-We are advised that
WINDSOR, Ont.-NO ACTION YET TAKEN.
no action has yet been taken looking towards the issuance of the $12,000 fireapparatus debentures (V. 95, p. 1292) voted recently.
-An election will be
WINGHAM, Ont.-DEBENTURE ELECTION.
held Jan. 6 1913 to vote on a by-law providing for the issuance of $15,000
-paving and grading debentures, reports state.
street
MISCELLANEOUS.
NEW LOANS.
$10,000
City of Fort Pierce, Florida
PUBLIC UTILITY BONDS
Notice is hereby given that the City Council
of the City of Fort Pierce, Florida, will receive
bids for the purchase of 510,000, par value, of
Fort
City of Fort Pierce Public Utility Bonds at
Pierce. Florida, at the City Hall, at 8 o'clock
p.to., on WEDNESDAY. JANUARY 15, 1913.
Said bonds are dated January 1st, 1912, payable
thirty years after date, in denominations of
5500 00 each, and bear Interest at the rate of sis
per cent per annum, payable semi-annually on
July 1st and January 1st of each year. All
bidders shall accompany their bids with a• certified check for 5200 00 as security for compliance
with hid. The right is reserved to reject any
.and all bids.
Address all bids to
P. M. TYLER. City Clerk.
Fort Norm, Florida
BOND CALL.
NOTICE TO HOLDERS OF
BROWN REDEMPTION BONDS
• Issued by the State of South Carolina
Under the Act of 1892.
• Pursuant to the Act of the General Assembly
of the State of South Carolina passed at the
session of 1912, entitled, "An Act to Provide for
the exercise by the State of its option to call in
and pay the whole or any part of the Brown
Bonds and Stocks issued under an Act entitled,
"An Act to Provide for the redemption of that
portion of the State debt known as the Brown
Consol Bonds and Stocks by the issue of other
bonds and stocks", approved December 22nd,
A. D. 1892, 27th Statutes, page 738. Notice
is hereby given to all the holders of Brown
Redemption Bonds issued under said Act of 1892,
and numbered from No. 3,781 to No. 4,319.
both inclusive, being of the par value of One
Thousand (51.000) Dollars each; to present the
said bonds for payment and redemption to the
State Treasurer of the State of South Carolina
as Treasurer of the Sinking Fund Commission,
at the office of the State Treasurer in the City
of Columbia, South Carolina, on January 1st,
1913. And notice is hereby given that coupons
for the interest on any of the bonds hereby called
In, maturing after tannery 1st, 1913, will not
be paid.
By order of the Sinking Fund Commission of
South Carolina.
Columbia, S. C., Dec. 2, 1912.W4"
R. H. JENNINGS,
State Treasurer & Secretary & Treasurer
of the Sinking Fund Commission of
.
The State of South Carolina.
TERRITORY OF HAWAII
4% PUBLIC IMPROVEMENT BONDS
Due Sept. 3, 1942-32 (g) 102.75 and interest.
Tax Free Throughout United States
Accepted at par for tiovt, and Postal Deposits
STACY & BRAUN
Toledo, 0,
Cincinnati, 0.
1767
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY
'
New York, January 23d, 1912.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs an the
31st of December, 1911.
The Company's business Aas been confined to marine and inland transportation insurance.
$3,853,325 18
Premiums on such risks from the 1st January, 1911, to the 31st December. 1911
873,880 87
Premiums on Policies not marked oft 1st January, 1911
total Premiums
Premiums marked off from January 1st, 1911, to December 31st, 1911
interest on the investments of the Company received during the year----$333,897 03
39,828 24
Interest on Deposits in Banks and Trust Companies, etc
153,167 68
Rent received less Taxes and Expenses
Lessee paid during the year
Less Salvages
Re-insurances
$4,527,005 55
$3,773,578 22
526,692 93
$1,385,388 46
5220,704 52
205,151 34 425,855 86
*959,530 80
5196,936 89
Returns of Premiums
Expenses, including officers' salaries and clerks' compensation, stationery, advertise- 570,472 18
ments,etc
certificates of profits will be paid to the holders
A dividend of interest of Six per cent on the outstanding sixth of February next.
thereof, or their legal representatives, on and after Tuesday the
paid to the holders
of the issue of 1906 will be redeemed andfrom which date all thereof, or theist
The outstanding certificates
interest thereon
legal representatives, on and after Tuesday the sixth of February next,canceled.
and
will cease. The certificates to be produced at the time of payment of the Company for the year ending 31st
dividend of Forty per cent is declared on the earned premiums
A
which, upon application, certificates will be
December, 1911, which are entitled to participate in dividend, for
Issued on and after Tuesday the seventh of May next.
G. STANTON FLOYD-JONES, Secretary.
By order of the Board,
TRUSTEES.
CHARLES H. PRATT.
HERBERT L. GRIGGS,
FRANCIS M. BACON,
DALLAS B. PRATT,
CLEMENT A. GRISCOM,
JOHN N. BEACH,
GEORGE W. QUINTARD,
ANSON W. HARD,
ERNEST C. BLISS,
ANTON A. RAVEN.
THOMAS II. HUBBAFtD.
VERNON H. BROWN,_
JOHN J. RIKER,
LEWIS CASS LEDYARD,
WALDRON P. BROWN:
DOUGLAS ROBINSON.
H
CHARLES D. LEVERIC,
JOHN CLAFLIN
GUSTAV H. SCHWAB,
LEANDER N. LOVELL,
GEORGE C. CLARK,
WILLIAM SLOANE,
GEORGE H. MACY,
CLEVELAND H. DODGE;
LOUIS STERN,
CHARLES H. MARSHALL;
CORNELIUS ELDERT,
WILLIAM A. STREET
NICHOLAS F. PALMER.
RICHARD H. EWART,
GEORGE E. TURNURE.
HENRY PARISH,
PHILIP A. S. FRANKLIN,'
ADOLF PAVENSTEDT,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
-President.
WALTER WOOD PARSONS, 2d Vice
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART, 411: Vice-President,
BALANCE SHEET.
LIABILITIES.
ASSETS.
Estimated Losses and Losses Unsettled
York
United States and State of New
52,310,027 00
In process of Adjustment
$700,000 00
Bonds
753,427 33
Premiums on Unterminated Risks
New York City and New York Trust Co 1,777,900 00 Certificates of Profits and Interest Unand Bank Stocks
267,092 05
paid
2,742,162 00
Stocks and Bonds of Railroads
109,742 10
Premiums Unpaid
220%020 00 Return
Other Securities
57,512 10
Reserve for Taxes
Special Deposits in Banks and Trust
183,599 07
1,000,000 00 ite-insurance Premiums
Companies
Claims not Settled, including CompenWilliam Streets
Real Estate cor. Wall and
69,104 08
sation, etc
and Exchange Place, containing offices 4,299,426 04 Certificates of Profits Ordered Redeemed,
Real Estate on Staten Island (held under
22,471 29
Withheld for Unpaid Premiums
75,000 00
provisions of Chapter 481,Laws of 1887)
7,401,390 00
618.136 00 Certificates of Profits Outstanding
Premium Notes
449,354 23
.3111s Receivable
Cash In hands of European Bankers to
pay losses under policies payable in
203,603 36
foreign countries
93.0,321 99
Cash in Bank
450,000 00
New York City Revenue Bonds
-----$11,174,365 14
$13,465,923 62
32,291,558 48
Thus leaving a balance of
$41,878 80
1911, amounted to
Accrued Interest on Bonds on the 31st day of December,to
21,970 46
Rents due on the 31st day of December 1911, amounted
the 31st day of December,
Re-insurance due or accrued, in companies authorized in New York, on
214,367 00
1911. amounted to
83,096 43
amounted to
Unexpired re-insurance premiums on the 31st day of December, 1911.
Real Estate corner Wall and
Note: The Insurance Department has estimated the value of the Value given above, at
450,573 96
the Book
William Streets and Exchange Place in excess of Book Value, at
83,700 00
And the property at Staten Island in excess of the
day of December, 1911, exThe Market Value of Stocks, Bends and other Securities on the 31st
1.588,63562
ceeded the Company's valuatio.a by
----$4,755,780 75
would is.
On the basis of these increased valuations the balance
1768
THE CHRONICLE
grnst gompautts.
Lxxxxv.
ono states Trust Many or #ow Volt •
ESTABLISHED 1894
:13acon. tVavis
Chartered 1853
45 sincl 47 WALL STREET
CAPITAL
SURPLUS AND UNDIVIDED PROFITS
ttgitteers
$2,000,000.00
13,910,317.80
This Company acts as Executor, AdmInistraior. Guardian, Trustee, Court Deyoultary and in
other recognized trust capacities.
It allows Interest at current rates on deposits.
•
/t holds. manages and invests money, securities and other property, real or personal, for estates.
Iorporations and Individuals.
EDWARD W. SHELDON, President.
WILLIAM M. KINGSLEY, V.-Pres. WILFRED J. WORCESTER,Secretary
WILLIAMSON PELL, Asst. Secy.
CHARLES A.EDWARDS, 2d Asst. Secy.
William Rockefeller,
Alexander E. Orr.
William H. Macy
William D. Sloane,
!hank Lyman,
gugintevs.
•
TRUSTEES.
JOHN A. STEWART. G'hairman of the Board.
James Stillman,
Payne Whitney,
John Clailln,
Edward W. Sheldon,
John J. Phelps,
Chauncey Keep,
Lewis Cass Ledyard.
George L. Rives,
Lyman J. Gage.
Arthur 0. James.
ACT AS
•
CONSULTING ENGINEERS
CONSTRUCTING ENGINEERS.,
OPERATING MANAGERS
APPRAISERS
PROPERTIES FINANaD
William M. Kingsley,
115 BROADWAY, NEW YORK
William Stewart Tod.
Ogden Mills,
‘IEW ORLEANS
SAN FRANCISCO
Egerton L. Winthrop,
Cornelius N. Bliss Jr.
J. G. WHITE & CO.,Inc.
_
Engineers, Contractors
More and more people are finding it convenient to keep their
Securities and other Valuables uptown instead of downtown.
investigations and Reports on Electric
Railway, (las, Electric Light and Power
Properties, Fcc.. for Financial Institutions and Investors.
The Union Trust Company of New York bffers unexcelled
facilities at moderate prices in the uptown vaults of the Lenox
Safe Deposit Company.
Electric Railways, Electric Light sat
Power Plants, Gas Plants, Finanead,
Designed and Built.
At Fifth Avenue and Sixtieth Street they are very near the
"social centre" of New York, and convenient for most people
who live uptown.
43 Exchange Place,
- NEW YORK
San Francisco
Chicago
London Correspondents:
1. O. WhITE& CO.. Limited.
9 Cloak Lane, Cannon St.. E. C.
Inspection and patronage are invited.
s.BARSTOW e"
t,
-mal.
0c
‘
1.
Incorporated
CAPITAL, $1,000,000
SURPLUS, $4,000,000
THE
PHILADELPHIA TRUST
CONSULTING and
CONSTRUCTION ENGINEERS
PUBLIC SERVICE PROPERTIES
FINANCED and MANAGED
50 Pine Street
New. Vert
SAFE DEPOSIT
C. G. YOUNG
Main Office, 415 Chestnut St.
Branch Office, 1415 Chestnut St.
EXECUTES TRUSTS OF EVERY DESCRIIMON.
Acts as Trustee for Corporation Mortgages, Registrar or Transfer Agent
Interest allowed on Individual and Reserve Accounts
Thomas S. Gates.
President.
John Story Jenks,
Vice-Pres. pro ten.
Edmund D. Schoiey,
Secretary.
Henry U. Brengle,
Treasurer.
Engineering and Construction
Plans, Methods, Examination.
Public Utilities and Industrials
REPORTS FOR FINANCING
BankeraTrust Bldg., New Yark
Alfred E. Forstall
des D. Robison
FORSTALL AND ROBISON
Mellon National Bank
PITTSBURGH, PA.
8-26
ENGINEERS
Investigations and Appraisals of Gas and
Electric Properties for Owners or Financial
Institutions.
84 William St.,
NEW YORK CITY
Alten S. 1111199
Alex. 0, Humphreys
Assurance of safety, perfect service and 3%
interest on reserve accounts are offered to correspondents of this bank. Your account is invited
RESOURCES OVER 50 MILLIONS
HUMPHREYS & MILLER,Im.
ENGINEERS
Power—Light—Gas
JAM BROADWAY.
-
-
NEW
von'
Established 1889.
A. L. REGISTER & CO.
ENGINEERS—CONTRACTORS
Philadelphia
L. F. DOMMERICH & CO.
NEW YORK
General Offices, 67 Greene Street
Will Remove to
N. W. CDR. 20th ST. & 4th AVE.
In January
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
FOR MANUFACTURERS,
1ZDISCOUNT AND GUARANTEE SALES
AGENTS AND OTHERS
CARRY NO GOODS FOR OWN ACCOUNT
Established over 60 Years
Intutng gixtitnetvs.
MINES MANAGEMENT CO.
CONSULTING MINING ENGINEERS
Managers of Mining Properties
NEW YORK.
$O BROADWAY.
38 and 29 St. SwIthini Lane,
LONDON, E 0., ENGLAND.
Avenida 16 Do Sept1embre, Num. aa:
ME4ICO. D. F.. MEXICO.
H. M. CHANCE & CO.
Mining Engineers and Geologists
COAL AND MINERAL PROPERTUIS
Examined, Developed, Managed
Drstrel Bldg..
PHILADELPHIA. PA
-
@FedFRASER