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TWO SECTIONS
-
SECTION
ONE'
financial
M LIBRARY
UN1V. OF MICH
DEC 6 18t0
ommttrta
INCLUDING
Bank &
Quotation Section
Railway Earnings Section
State and
Bankers* Convention Section
Entered at N. Y. Post Office as second class mail matter.
Copyrighted in 1910, by William B. Dana Company, New York.
VOL. 91.
Electric Railway Section
City Section
Railway & Industrial Section
NEW
gituiiici*!.
giuzncixl.
financial.
THE FARMERS’ LOAN & TRUST
Harvey Fisk & Sons
COMPANY
NEW
YORK
BANKERS
Foreign Exchange, Cable Transfers,
Letters of Credit, Payable through¬
Government,
THE
Railroad
The Company Is a legal depositary for
moneys paid Into Court, and Is author¬
ised to act as Executor. Administrator,
Trustee, Guardian. Reoelver, and In all
ether fiduciary capacities.
Acts as Trustee under Mortgagee made
by Railroad and other Corporations, and
Transfer Agent and Registrar of Stories
LIBERTY
and
Municipal Bonds
out the world
NO. 2371
YORK, DECEMBER 3 1910.
NATIONAL
INVESTMENT SECURITIES
BANK
OF NEW YORK
PHILADELPHIA, represented by
JAMES H. CHAPMAN. 421 Chestnut St.
CHICAGO, represented by D. K. DRAKE,
218 La Salle St.
BOSTON, MASS., represented by
JOHN B. MOULTON. 3 5 Congress St.
ISO BROADWAY
as
and Bonds
Receives deposits upon Certificates of
Deposit, or subject to check, and allows
Interest on dally
balanoes.
Manages Real Estate and lends money
bond and mortgage.
Will act as Agent In the transaction of
sn
approved financial business.
Depositary for Legal Reserves of State
Banks and also for moneys of the City of
any
New York.
Flsoal Agent for States. Counties and
Oltles.
16-22 WILLIAM STREET
475 FIFTH AVENUE
NEW YORK
LONDON
PARIS
The National Park Bank
of New York
Organised 1856.
Capitol
Surplus and Profits
Deposits Nov. 10,1910
.
.
$5,000,000 00
12,650,168 20
99,481,650 31
.
RICHARD DELAFIELD,
President.
GILBERT G. THORNE.
JOHN C. MoKEON.
Vice-President.
Vice-President.
JOHN C. VAN CLEAF.
Vice-President.
MAURICE H. EWER.
Cashier.
WILLIAM O. JONES.
Asst. Cashier.
WILLIAM A. MAIN;
N.W. HARRIS & CO
BANKERS
Ptae Street Comer William
NEW YORK
$5 Federal St.. Boston
Receive
and
Act
deposits subject to oheck
allow
as
palltles
letters
balanoes.
^
for murid- *
corporations. Issue
interest
fiscal
and
of
on
agents
credit
and
deal
In
BONDS FOR INVESTMENT
Asst. Cashier.
FRED’K O. FOXCROFT, Asst. Cashier.
LIST ON APPLICATION
Members of Richmond and Baltimore Stock
Exchanges.
John L. Williams & Sons
THE
Edward B. Smith & Co.
MECHANICS AND METALS
BANKERS
BANKERS
Corner 9th and Main Streets
RICHMOND. VA.
Baltimore
NATIONAL BANK
Oorreepondents:
MIDDENDORF. WILLIAMS A CO.
N. E. Cor. Broad A Chestnut Sts..
Fifth Avenue Building
Capital,
Surplus,
Corner fth Ave. and SSrd St., New York.
Capital, $1,000,600
SECURITIES
Members New York and Phlla. Stook Exchange
88 Wall Street
GARFIELD NATIONAL BANK
INVESTMENT
$6,000,000
-
PhUadelpbic
17 Pine Street. New York
6,000.000
Surplus, $ 1,006,000
RUEL W. POOR. President
JAMES McCUrCHEON. Vice-Pres.
WILLIAM L. DOUGLASS. Cashier
ARTHUR W. SNOW. Asst. Cashier
ORIGINAL CHARTER 1829
THE
Chase National Bank
Clearing House Building
Cap. S Surp.. Slt.T06.779
A. B.
Francis Ralston Welsh,
GALLATIN
BONDS
NATIONAL BANK
Dep.. $96,750,278
HEPBURN. President
OF RAILROAD, GAS AND ELECTRIC
LIGHT AND POWER COMPANIES
A. H. Wlggin. V.-Pres.
C. C. Slade. Asst. Cash.
8. H. Miller, V-Pres.
E. A. Lee. Asst. Cashier.
H. M. Conkey. Cashier. W. E. Purdy. Asst. Cash.
A. C. Andrews. Asst. Cashier.
100-111 SOUTH FOURTH STREET
PHILADELPHIA
THE
NATIONAL
BANK
First National Bank
—CORNER NASSAU AND PINE
61,000,000
2,450,000
of
GEORGE E. LEWIS, Cashier
HOWELL T. MANSON. Aset. Cashier
Philadelphia
DIRECTORS
ESPECIALLY
315 CHESTNUT STREET
ARRANGED FOR HANDLING
MERCANTILE ACCOUNTS.
•
-
SAMUEL WOOLVERTON. Prerident
ADRIAN ISELIN JR., Vice-President
THf;.CITY,OF NEW YORK
STREETS—IS
Capital
Surplus and Profits (earned)
OFFICERS
EQUIPMENT OF THE
FOURTH
OF
OF THE CITY OF HEW YORE
ACCOUNTS
JL
INVITED
Adrian Iselln Jr.
Chaa. A. Peabody
Frederic W. Stevens
Alexander H. Stevens
Samuel Wooiverton
Charles d.<Twined
W. Emlen Roosevelt
Thomas Doany
J
J
[VOL. LXXXX1
THE CHRONICLE
u
Sauk*** attfl S^atoeKS of gotetflit
Coppell & Co., Kidder, Peabody & Co.,
J. P. MORGAN & CO. Maitland,
DOMESTIC AND FOREION BANKERS
Wall Street Corner of Broad
NEW YORK
PHILADELPHIA
Corner of 5th and Chestnut Streets
H ORGAN, GRENFELL & CO* LONDON
Bids •/
Exchange, Telegraphic Tranefero,
Lettere of Credit
HARJES
&
-
'
CO*
PARIS
Deposits reoelved subject to Draft
Securities bought and sold on Commission
Interest allowed on Deposits
Foreign Exchange. Commercial Credits
Cable Transfers
Okoular Cotters for Travelers available In all parts
of the world
Brown Brothers & Co.
PHILA.
NEW
YORK.
BOSTON.
of
And its Branches.
Available
Buy and sell Bills of Exchange
and make cable transfers on all
points. Issue Commercial and
..
If Travelers’ Credits, available In
CUU
throughout the United States
No. 23 NASSAU STREET.
Members New York Stook Exchange.
I
an parts
of the world.
BROWN, SHIPLEY & CO.. LONDON
00.
&
LTD
J. & W.
BANKERS
NEW
Letters of Credit for Travelers
Available in all Parts of the World
DRAW BILLS OF EXCHANGE AND MARK
TELEGRAPHIC TRANSFERS OF MONEY T#
EUROPE AND CALIFORNIA
for Travelers
Available in all parts of the world.
Draw Bills of Exchange and make Telegraphic
Transfers to EUROPE, Cuba, and the
other West Indies. Mexico and California.
orders for the purchase
Bonds and Stocks.
and
YORK
Issue
/SSUE LETTERS OF CREDIT
Execute
Seligman & Co.,
Buy and Sell Investment Securities
Agents and Correspondents of the
Messrs. ROTHSCHILD.
London, Paris and Vienna.
l-«€LLCrS
V>1
BROTHERS
LONDON
August Belmont & Co.,
DCCUritlCS
/
BARING
TRAVELERS’ LETTERS OF CREDIT
—
tions. Firms and Individuals
en favorable terms.
Collect
drafts drawn abroad on all points in the United
States and Canada; and drafts drawn In the United
States on foreign countries. Including South Africa.
INTERNATIONAL CHEQUES.
CERTIFICATES OF DEPOSIT.
rtf
Correspondents of
Agents for the Bank of Australasia, the British
Guiana Bank. Demerara. etc., etc.
vestment Securities on com- I nvPCftTIPnf
mission.
Receive accountsA11V
ef Banks, Bankers, Corpora- n
*. *
***
LETTERS OF CREDIT
BANKERS.
ALEX. BROWN & SONS. BALTIMORE.
Connected by Private Wire.
Mems N. Y., Phila., Boston & Balt. Stock Exch’s.
T
FOREIGN EXCHANGE.
London
59 Wall Street
Buy and sell first-class In-
INVESTMENT SECURITIES.
on
SI Boulevard Haussmann
*
BANKERS
& Smiths Bank. Limited.
London.
Messrs. Mallet Freres & Cie.. Paris.
Banco Nacional de Mexico
Union
STREET. BOSTON
STREET, NEW YORK
56 WALL
Orders executed for all Investment Securities.
Act as agents of Corporations and negotiate and
Issue Loans.
No. n Old Broad Street
MORGAN,
116 DEVONSHIRE
52 WILLIAM STREET
NEW YORK
DRBXEL & CO*
H*efcaitfl*.
sale
of
Seligman Brothers, London
Seligman Freree & Cie., Parie
Aleberg, Goldberg & Co., Amsterdam
The Anglo and London-Parie Nation*,
Bank of San Francieco, Cal.
Graham, Vaughan & Co.,
44 Pine Street, New York.
BANKERS
TA1LER&CD
27 Pine Street,
BANKERS
INVESTMENT SECURITIES
New York
31-33 Pine Street, New York
MEMBERS NEW YORK STOCK
EXCHANGE
624 Fifth
Ave., N
•07 Chestnut Street.
BANKERS
r
Lawrence Turnure & Co.
INVESTMENT
SECURITIES
f
Members of the New York Stook Exchange
64-66 Wall Street, New York
Issue drafts and cable transfers on above countries.
Securities bought and sold on commission
Produce
Subject to Draft.
Interest
Allowed on
Deposits.
Securities
Bought and Sold on
Commission.
Foreign Exchange. Letters of Oredit
Dealers In
as
Fiscal Agents.
High-Grade Investment Seourltte*
BROADWAY. Corner BEAVER ST.
Capital
Surplus earned
Foreign
Exchange
-
-
•
•
bought
$1,000,000
500,000
and
sold.
Cable
ACCOUNTS INVITED
PHILADELPHIA
BANKERS.
MEMBERS N. Y. STOCK
General Foreign and Domestic
Banking Business
Dealers in Investment Securities
John Munroe & Co.,
BOSTON
Letters of Credit Cor Travelers
Foreign Exchange.
Gable Transfers.
MONROE & 00., Paris
BANKERS
436 Chestnut Street
37 William Street.
PINE STREET, NEW YOQK.
Graham & Co.
Transfers.
Commercial and Travelers’ Letters of
Credit available In all parts of the world.
BANKERS
and
Exchange Bank
Kean, Taylor & Co.
Oemmerdal Credits.
to cheque
deposits.
Members New York Stock Exohange.
Act
HEIDELBACH, ICKELHEIMER & CO.
C
on
Lists upon application.
Deposit* Received
mmw YORK
subject
NEW YORK
BANKERS
a
received
Interest allowed
Bank.
Paris Bankers:—Heine & Co.
NEW YORK
Transact
Exchange and Cable Transfer*.
Deposits
59 CEDAR STREET
30
Bills of
De]
eposlts received subject to draft. Interest al¬
deposits.
Securities bought and sold on
commission. Travelers’ credits, available through¬
out the United States, Cuba, Puerto Rico, Mexico,
Central America and Spain. Make collections In and
lowe<
so on
London Bankers;—London Joint-Stock
Limited.
Winslow, Lanier & Co.,
Cablet “Mimota.”
of Credit and Travelers’ Cheque*,
available the world over.
Letters
Bankers
Y.
Phila del phis.
Government
Securities
and
of
Municipal Bonds,
Railroads, Street
Railways and Gas companies
of established value.
EXCHANGE.
Execute orders for purchase and sale of
Stocks and Bonds.
Foreign Exchange Bought and Sold.
Act
as
Financial Agents
Issue Foreign and Domestic Letters ef
Credit and Travelers’ Cheques
Issue Commercial and Travelers* Credits
available in all parts of the world.
Schulz &
Ruckgaber,
Knauth, Nachod&Kiihne
BANKERS.
15 William Street.
Members New
....
York
Stock
Correspondents of Messrs.
Fruhllng & Goschen, London.
John Berenberg-Go8Sler & Co., Hamburg.
Marcuard, Meyer-Borel & Cle., Paris.
Bremer Bank Fillale der Dresdner Bank.
Bremen.
Issue Commercial
BANKERS
New York
Exchange.
& Travelers’ Credits.
Buy and Sell Bills of Exchange.
Cable Transfer* <v Investment Securities
NEW YORK
LEIPSIG, GERMANY
Members New York Stock Exohange.
INVESTMENT
SECURITIES
Deo. 3
THE CHRONICLE
191U.J
Hault*w*.
|?attke*s.
bankets.
Millett.Roe & Hagen
Lee, Higginson &Co.
BANKERS
Wm. A. Read & Co.
BOSTON
New York
&. CO.
I Bank
S3 Will Street
New York
BANKERS.
Dealers In
Members New York. Chicago and Boston
Stock Exchanges.
HIGH-GRADE BONDS
Chicago
HIGGINSON
m
Members New York Stock
Buildings, Prince’s Street,
LONDON, E. C.
Investment Securities
Exchange
Boston, 15 Congress Street
25 NASSAU STREET,
NEW YORK
BOSTON
Plympton,Gardiner&Co.
BALTIMORE
CHICAQO
N. W. HALSEY & CO.,
Bank.rs
LONDON
Members New York and Chicago
Stock Exchanges
BONDS FOR INVESTMENT
Interest Allowed on Deposit Accounts
Conservative Investments
Fiscal Agents for Cities and Corporations
LISTS ON REQUEST
27 William St., New York
Z32 La Salle Street,
CHICAGO
54 Old Broad Street,
LONDON, E. C.
Rhoades&Company
40
Wall Street, NEW YORK
Philadelphia
Chicago
San Francisco
BANKERS
45 WALL STREET, NEW YORK
George P. Butler & Bro.
85 Wall Street
Members N. Y. Stock Exohange
High-Grade Bonds
Trowbridge & Co.
State.
Municipal
Railroad
and
NEW YORK
RAILROAD AND OTHER
INVESTMENT SECURITIES.
BANKERS
Members New York Stock Exchange
Members New York Stock Exohange; Execute
Commission Orders; Deposits reoelved subject to
draft.
.
Cor. of Wall and Broad Sts.. New York,
Letters of Credit and
Bonds and Stocks
Travelers’ Checks
Available
for Investment
Throughout the World
HARTFORD—S6 Pearl Street
NEW YORK
111
NEW HAVEN
134 Orange St.
Broadway
H. B. HOLLINS & CO,
Draw Bills of Exchange and make Cable
Transfers to Europe, Asia, Australia, the
West Indies, Central and South Amerlc and
Mexico.
Issue Letters of Credit for Travelers, avail¬
able in all parts of the world.
Goldman, Sachs & Co.
BANKERS
Cable
60 WALL STREET. NEW YORK
CHICAQO
BOSTON
•
56
Exchange Place,
Execute orders for
sale
of
Stocks
purchase and
and
Bonds
Buy and Sell Foreign Exchange.
CABLE ADDRESS. ••COLDNESS”
14 State Street,
NEW YORK
BOSTON
Issue
Dealers in
NEW YORK CITY
Commercial and Travelers9
Letters of Credit
49 WALL STREET. N. Y. CITY.
Members New York Stock Exchange.
COMMISSION BROKERS
In Railroad, Municipal
Investment
OFFICIAL
QUOTATION SHEET WILL BE SENT
REGULARLY ON REQUEST
DEALERS IN
Securitise
and Commercial Paper
Wollenberger & Co.
INVESTMENT SECURITIES
Members New York & Boston Stock Exchanges
and Industrial Securities
Inquiries and correspondence receive prompt and
courteous attention.
Available In all parts of the world.
and other MUNICIPAL BONDS
COMMERCIAL PAPER
Tel. 6570-1-2 Hanover
Dominick Bros. & Co.
Members of New York & Chicago Stock Exchanges
Blake Brothers & Co.
Address, Domino. N. Y.
BANKERS
Zimmermann & Forshay
BANKERS
Specialists in
Foreign Government Bonds
Correspondence Invited.
9 and 11 Wall Street. New York.
BOISSEVAIN & CO.
206 La Salle Street
•«
-
CHICAGO
Members New York Stock Exchange.
24 BROAD STREET.
Ordera executed for stocks and bonds for Invest¬
NEW YORK.
ment or on
margin.
Adolph Boissevain & Co..
Amsterdam. Holland.
TRANSACT
A GENERAL BANKING
STOCK EXCHANGE BUSINESS.
LEONARD H. HOLB
BIRD S. COLBR
Members New York Stock Exchange.
Fereige Exchange Bnoght and Said
W. N. COLER & CO.
Utters nf Credit issued
BANKERS
AND
Cable
Transfers
to
all
Parts
of
the
World.
43 CEDAR
ST., NEW YORK
INVESTMENTS
BOND & GOODWIN
BANKERS
Corporation and Collateral Loans
Commercial Paper
also
INVESTMENT SECURITIES
Members New York Stock Exchange
and Boston Stock Exchange.
31 Congress St
BOSTON
111 Broadway
NEW YORK
234 LaSalle St.
CHICAQO
CRAMP, MITCHELL & SHOBER
BANKERS
1411 Chestnut St
Philadelphia
Members New York and Phlla. Stock Exchanges
New York Cotton Exchange
Investment Securities
Shoemaker, Bates & Co.
BANKERS
fNew York Stook Exohange
Members! New York Cotton Exohange
l Chicago Stock Exohange
INVESTMENT
37-43 Wall
SECURITIES
Street, New York
500 Fifth Ave.( New York
(VOL.
THE CHRONICLE
IT
Kmdtm.
g«*l0tt.
1
LXXXXI
?
MONTREAL
DEUTSCHE BANK The Union Discount Co. BANK OF
(Established 1817)
BERLIN W
of London, Limited
CAPITAL paid in
$14,400,000 00
-
Behrenstrasse 9 to 18
89 CORNHILL.
CAPITAL
847,819,000
M. 200,000,000.
895,178,896
RESERVE
87.600.000
8.750.000
Capital Subscribed
Paid-Up
Reserve Fund
9,900,000
M. 105,720,104.
55= £1 STERLING.
Dividends paid during last ten years:
11. 11. 11. 11. 12. 12. 12. 12. 12. 12M per eent
NOTICE IS HEREBY
GIVEN that the
RATES OF INTEREST allowed for money on
Brandies:
BREMEN.
DRESDEN, FRANKFORT-O-M.,
HAMBURG.
MUNICH.
LEIPSIC,
NUREMBURG, AUGSBURG.
WIESBADEN.
BRUSSELS, CONSTANTINOPLE
deposit are as follows:
At Call, 3r4 Per Cent.
At 8 to 7 Days’ Notice, 384 Per Cent.
4 George Yard. Lombard St..
LONDON, E. 0.
The Company discounts approved bank
mercantile acceptances, receives money on
and
de¬
posit at rates advertised from time to time, and
grants loans on approved negotiable securities.
i, CHRISTOPHER R. NUGENT. Manager.
The London City &
Midland Bank, Limited,
HEAD OFFICE
BANCO ALEMAN TRANSATLANTIC
(Deutsche Uebersedsche Bank.)
SUBSCRIBED CAPITAL-
Branches In all the Principal Cities and
Towns of England and Wales.
Telegraphic Address: Cinnabar. London.
(87.148.000)
ESTABLISHED 1836
(85.357.000)
SUBSCRIBED CAPITAL, $95,741,700
PAID-UP CAPITAL,
19,946,187
M. 30.000,000.
PAID-UP CAPITAL
M. 22.500.000.
RESERVE FUND
(61.695.000)
M.
6,827.000.
RESERVE FUND,
HEAD OFFICE
17,951,568
Sir EDWARD H. HOLDEN. Bart..
BERLIN
Branches:
ARGENTINA: Bahla-Blanca, Buenos
Cordoba, Mendoza. Tucuman.
BOLIVIA: La Paz. Oruro.
OHILI: Antofagasta, Concepcion,
64 WALL STREET
R. Y. HEBDEN,
W. A. BOG.
J. T. MOLINEUX
Agents.
Buy and Sell Sterling and Continental Exehange
and Cable Transfers: grant Commercial and Trav¬
elers’ Credits, available In any part of the world:
Issue drafts on and make collections In Chloago and
throughout the Dominion of Canada.
London Office. 47 Threadneedle St.. E. C.
F. WILLIAMS TAYLOR. Manager.
HEAD OFFICE MONTREAL
CAPITAL—
86.000.000
Rest and Undivided Profits
4.602.157
NEW YORK OFFICE. 63 and 65 WaU St.
W. M. RAMSAY,
1Agents.
C. J. CROOK ALL. )
155 branches In the Provinoes of Quebec, Ontario,
Manitoba, Saskatchewan. Alberta and BrltMi
Columbia. Good facilities for effecting prompt cotlections in Canada. Buy and sell Sterling Exchange
and Cable Transfers. Issue Commercial and Trav¬
elers’ Credits available In any part of the world.
London Agents—The London Joint Stk. Bk., Ltd.
Chairman and Managing Director.
Kanonlerstrasse 29 to 30.
Canadian Bonds
Aires,
MUNICIPAL AND CORPORATION
Handels-Gesellschaft,
URUGUAY: Montevideo.
SPAIN: Barcelona, Madrid.
for collection, negotiated
WOOD. GUNDY & CO.
Berliner
Iqulque, Osorno,
Santiago. Temuco, Valdivia, Valparaiso.
PERU: Arequlpa, Callao, Lima, Trujillo.
Bills sent
-
-
Head Office—Montreal
Rt. Hon. Lord Strathcona and Mount Royal,
G. C. M. G., G. C. V. O.—Honorary President
R. B. ANGUS. President.
Sir Edw. Clouston, Bart.—V.-Pres. A Gen. Mgr
Merchants’ Bank of Canada
5 Threadneedle Street. London. England.
With
681,561 44
UNDIVIDED PROFITS,
NEW YORK OFFICE,
and the
Deutsche Bank (Berlin) London Agency
12,000,000 00
REST,
Telegraphic Address. Udlsco, London.
46 Threadneedle St..
6 King St.. W..
TORONTO. CAN.
LONDON. ENQ.
BERLIN, W„ 64
or
advanced upon.
Behrenstrasse 32-33 and Franzoslsahe-Straase 42
Drafts, cable-transfers and letters
of credit issued.
London Agents
DEUTSCHE BANE (BERLIN) LONDON AG’Y
GEORGE Y’D, LOMBARD ST.. LONDON. E.C.
Canadian Bonds Bought,
Sold and Appraised
Telegraphic Address—Handelschaft, Berlin.
ESTABLISHED 1856
W. Graham Browne & Co.
MONTREAL
Banking Transactions of Every Description
Direction der
V
-
Disconto-Gesellschaft,
Capital,
ESTABLISHED 1851
Reserve,
-
-
-
-
-
-
M. 110,000,000
M. 34,500,000
VAN OSS & CO.
.* BERLIN W., 48-44 Behrenstrasse
BREMEN. FRANKFORT-o-M.. MAINZ.
HOCHST-o-M.. HOMBURG
V.
THE HAGUE, HOLLAND
Place American Investments in Europe
d. H..
Swiss Bankverein
POTSDAM, WIESBADEN.
LONDON. E. C..
Schweizerischer
Bankverein
58 Corn hill.
Bankverein
Tel. Address, Voco.
Codes: Hartfleid's WaU St.. W. U. 8s Lleber.
Suisse
Basle, Zurich, St Gall, Geneva
CAPITAL, fully paid,
$40,476,200
-
Hong Kong & Shanghai
Agencies at Rorschach. Chlasso and Herlsau
BANKING CORPORATION
M. 170,000,000.
RESERVE
$14,307,764
.....
M.
LONDON OFFICE. 43
60.092,611.
With the unlimited personal liaMUty
Of the following partners:
A. SCHOELLER,
M. SOH1NCKEL.
Dr. A. SALOMONSOHN.
E. RUSSELL.
F. URBIG.
Capital paid
Surplus,
M. 19 000.000 00
Branches:
Head office: HAMBURG.
RIO DE JANEIRO. SAO PAULO.
.
Deutschland
CAPITAL
M. 19.000,090 00
Lothbury, E. C.
Frs.75,000,000
Frs.22,500,000
National Discount
85
CORNHILL.
....
LONDON.
Reserve Fund.
E.
C.
591.166.625
4,233,325
2,200,000
(55= £1 STERLING.)
NOTICE
IS
HEREBY
GIVEN
that the
RATES OF INTEREST allowed for money on
HAMBURG. WITH BRANCHES IN CHILE deposit are as follows:
(mtNCODE CHILE Y ALEMANIA). ANTOFA¬
GASTA. CONCEPCION. SANTIAGO. TEMUCO. At Call, 354 Per Cent Per Annum.
VALDIVIA, VALPARAISO, VICTORIA: ANI? At 8 to 7 or 14 Days’ Notice, 384 Per Cent.
IN
BOLIVIA
(BANCO
DE
CHILE
Y
ALE-
M^A^SECCION BOLIVIANAJ. LA PAZ
LONDON AGENTS:
DIRECTION DER DISCO NTO-GESELLSCHAFFT 53 CORNHILL. E. 0
WADE GARD’NER. Agent. 36 Wall St.
Wiener Bank - Verein
ESTABLISHED 1869
-
526,342,996
-
(139.969.009 crowns)
Cable Address—Natdls: London.
Subscribed Capital
Paid-up Capital
NEGOTIATE OR COLLECT BILLS PAYABLE IN
CHINA. JAPAN, PHILIPPINES. STRAITS 8ETTLBMENTS, INDIA.
CAPITAL (fully paid)
Company, Limited
SANTOS. PORTO ALEGRE. BAHIA.
Bank fur Chile und
•
....
Brasilianische Bank
The
fUr Deutschland
CAPITAL
up,
Paid-up Capital (Hong Kong Currency)
$15,000,660
Reserve Fundi In Gold.. .815,000,0001
31,000,060
lln Silver.. 16.000.000J
Reserve Liabilities of Proprietors
15.000,060
GRANT DRAFTS. ISSUE LETTERS OF CREDIT.
Approved bank and mercantile bills discounted.
Money received on deposit at rates advertised
time to time and for fix*d periods upon
specially agreed terms.
Loans granted on approved negotiable securities
from
PHILIP HAROLD WADE. Manager.
RESERVE FUNDS
-
-
-
$7,900,008
(89.000.000 crowns)
HEAD OFFICE VIENNA (AUSTRIA)
Branches in Austria-Hungary
Agram, Aussig a-E., Bielitz-Biela,
Brunn, Budapest, Carlsbad, Czernewitz, Friedek-Mistek, Graz, Innsbruek
Klagenfurt, Krakau, Lemberg, Mariea-
bad, Meran, Pilsen, Prag, Przemysl,
Prossnitz, St. Polten, Tarnow, Teplits,
Tescheu, Viliach, Wr. Neustadt.
Branch in Turkey
Constantinople
Deo. *
THE CHRONICLE
ltiu.]
Canadian
▼
^sutures
THE CANADIAN BANK
OF COMMERCE
Mackay & Co..
HEAD OFFICE. TORONTO
$10,000,000
PAID-UP CAPITAL
6.000.000
SURPLUS
NEW YORK OFFICE:
Nos. 16 AND 18 EXCHANGE PLACE
Wm. Gray and C. D. Mackintosh. Agents
Boy and Sell Sterling and Continental Ex¬
change and Cable Transfers. Commercial and
Traveler’s Credits. Collections made at all points.
Banking and Exchange business of every doc(lpdon transacted with Canada.
Edward Sweet & Co.
Members N. Y. Stock
BANKERS
Exchange
Members of the New York
Stock Exchange. Dealers in
Bankers & Brokers
High-Grade Bonds and other
Investment Securities. In¬
terest allowed on deposits.
34 PINE STREET
LONDON OFFICE—2 Lombard Street. E.O
BANKERS IN GREAT BRITAIN.
The Bank of England,
The Bank of Scotland.
Lloyd's Bank. Limited.
Union of London and Smith’s Bank. Limited.
♦
NEW YORK
National
City Bank Building
55 Wall Street
ESTABLISHED 1854
NEW YORK
;
The Bank of
British North America
Established In 1886
Incorporated by Royal Charter In 1840
Paid-up Capital
ESTABROOK & CO.
£1.000,000 Sterling
£520.000 Sterling
Reserve Fund
Head Office:
5 Graoechurch Street. London. E.O.
New York Office: 62 Wall Street.
H. M. J. McMICHAEL.l Agents.
W. T. OLIVER.
/
Buy and sell Sterling and Continental Exohange
and Cable Transfers.
Grant Commercial and
Travelers' Credits, available In any part of the
world.
Issue Drafts on and make Collections
In all parts of the United States and Canada.
BANKERS
Eleotrio
Light, Power and Street
Railway Enterprises with records
of established earnings
Members New York and Boston
Stock Exchanges
INVESTMENT SECURITIES
WE OFFER
15 State Street,
24 Broad Street,
HARTFORD
BOSTON
NEW YORK
BALTIMORE
CHASrMEREDITH.
Agents
Correspondence Solicited
ELECTRIC BOND ft SHARE CO.
R. L. DAY & CO.
J. J. REED.
President.
Vice-President.
A. H. EL MACKENZIE. Manager.
HON, LIONEL G. GUEST, Sec’y-Treasurer.
Bankers and Investment Dealers
Proven Public Utility Securities
CHICAGO
C. Meredith & Co., Limited
Bond Brokers and Financial
WE FINANCE
(Paid-Up Capital and Surplus. $4,900,000)
71 BROADWAY
e
37 Wall St.
35 Congress St.
NEW YORK
BOSTON
NEW YORK
HIGH - GRADE INVESTMENT BONBS
DIRECTORS
ALFRED BAUMGARTEN, C. R. HOSMER
Capt. D. C. NEWTON (Montreal)
H. ROBERTSON
C. B. GORDON
MONTREAL
Mlunlolpal and Railroad
WILLIAM P.BONBRIfiHT ft COMPANY
BANKERS
Members New York aod
Boston Stock Exchanges
Members of the New York Stock
Colorado
Springs
COLORADO
Canadian
Investment Securities
24 Broad Street
NEW YORK
Exchange
London
BNQLAND
Electric Power Securities
Tucker, Anthony & Co.
BANKERS & BROKERS
CORRESPONDENCE SOLICITED
1
*
_»_
.
*
&
*
DOMINION SECURITIES
CORPORATION, LIMITED
Toronto
Montreal
SM STATE ST.,
BOSTON
94 BBOAD ST..
NEW TOBK
NEW BEDFORD
NORWICH
SIMON BORG & CO.,
Members Boston and New York Stock
BANKERS
Exchanges.
London, Eng.
ilemdorg of Now York Stock Exchano$
No.
20 Nassau Street
-
New
Tork
HUNT A CUSHMAN
THE
Investment Saaurltlaa
INVESTMENT TRUST CO.
LIMITED
Trustees-Transfer
Agents
BOND DEPARTMENT
Canadian
Congress St, BOSTON
BERTRON, 6RISC0M ft JENKS
CANADA
Land Title Building.
PHILADELPHIA.
40 Wall Street.
NEW YORK.
INVESTMENT SECURITIES
HANSON BROS.
Dealers lu
Canadian Investment Securities
Sm4 for o*r *rmOW gftai
St. isms 8dried
'
^
INVESTMENT SECURITIES
Alfred Mestre&Co
BANKERS
BANKERS
Corporation Bonds
MONTREAL
35
HIGH-GRADE
H. AMY & CO.
BANKERS
44 and 46 Wall Street, New
York
INVESTMENT SECURITIES
MONTREAL
MU of exchange.
Letters ef Credit.
Members of the New York
Stock Exchange.
Dealers
in
Municipal, Railroad and
Equipment Bonds.
Interest alio Fed on deposits
Subject to Draft.
37 Wafl 8t.
MBW TOBK
130 8.15th St.
PHILADELPHIA
THE CHRONICLE
Y1
IV OL.
LXXXXI.
2B stake** and Iteoke** outside Itera 5jo*k.
PORTLAND, ORE.
LOUISVILLE.
PITTSBURGH.
We Buy and Sell
INVESTMENT BONDS
J. J. B. HILLIARD & SON
(NO STOCKS)
LOUISVILLE, KY.
J. S. & W. S. KUHN
Incorporated
of
L. L. M’Clelland,
Seo. & Treas.
President.
INVESTMENT BONDS
STREET RAILWAY SECURITIES
A Specialty
Pittsburgh, Pa.
James S. Kuhn,
BANKERS AND BROKERS
Correspondents:
John W. & D. S. Green
CHILDS & CHILDS
STOCKS AND BONDS
INVESTMENT SECURITIES
Members
INVESTMENT
PITTSBURGH,PA.
H. P.
Taylor & Company
PITTSBURGH
NEW YORK
Singer Bldg.
,„d
268 Fourth Aye.
INVESTMENT SECURITIES
&,
HENRY S. FRAZER
Local Stocks and Bonds
INVESTMENT SECURITIES
HOLMES, WARDROP &, CO.
Members Pittsburgh Stock Exchange.
MUNICIPAL AND CORPORATION BONDS
PITTSBURGH SECURITIES
Union Bank Building,
PITTSBURGH
Bankers and Brokers
STOCKS AND
BONDS
NASHVILLE.
TENN.
Wm. G. Hopper & Co.
STOCK AND BOND BROKERS
28 South Third Street,
PHILADELPHIA
AUGUSTA.
BROKER
Southern
Securities
fPHILADELPIA STOCK EXCHANGE
&, HUNTOON
Specialists in
SECURITIES
-
Philadelphia. Pa.
E. B. JONES
CO.
BONDS
Morris
Building,
WANTED
Offerings of Southern Bonds
and Stocks
WILLIAM
PHILADELPHIA
CORPORATION
a
Specialty
Correspondence Invited
SAN FRANCISCO
BUSH
Established 1887
WILLIAM R. STAATS CO
ATLANTA.
YIELDING AH% TO 5^%
THE ROBINSON-HUMPHREY CO.
ATLANTA, GEORGIA
CALIFORNIA
Municipal and Corporation Bonds
TO YIELD 4^%
HILLYER TRUST CO.
Capital and Surplus, - $300,000
TO 6%
LOS ANGELES
PASADENA
BARROLL & CO.
BONDS
Legal Bonds
MONTGOMERY.
Strassburger
SOUTHERN INVESTMENT SECURITIES
Established 1892.
MONTGOMERY, ALA.
AND
BROKERS
BIRMINGHAM, ALA.
Otto Marx & Co.
AND
Issues
LOS ANGELES
AUGUSTA, GA.
B. W.
NORFOLK, VA.
BROKERS
BIRMINGHAM. ALABAMA.
STOCKS AND BONDS
MEYER & GOLDMAN
STOCKS AND BONDS
OFFICES:
Merchants’Exch.Bldg,
H. W, Heilman Bldg
Los Angeles.
San Francisco.
MONTGOMERY.]
FIELDING J. STILSON CO.
INVESTMENT SECURITIES
MEMBERS
LOS
ANGELES STOCK EXCHANGE
LOS ANGELES.
BALTIMORE
DENVER, COL
POE & DAVIES
Boettcher, Porter & Company
Members
Baltimore Stock Exchange
Seaboard and Coast Line Issues
Loca and Southern Securities
COLSTON, BOYCE & CO
Members Baltimore Stock Exchange
INVESTMENT BONDS
SOUTHERN SECURITIES
BIRMINGHAM, \
ALABAMA
Denver, Colorado
Denver City Tramway 5s
Denver Union Water Co. bds. & stks.
Denver Gas & Electric Co. 5s
Great Western Sugar Co. stock
Colorado Telephone Co. stock
Cities Service Co. stock
Denver District Improvement bds.
Colorado Irrigation District bonds
6%
6%
CALVIN BULLOCK
INVESTMENT BONDS
COLORADO SECURITIES
PROVIDENCE.
MEMPHIS.
JNO. L. NORTON
Local Stocks and Bonds.
86 Madison Avenue,
MEMPHIS.
TENN.
E.
PUBLIC
BONDS
MOTTU & CO.
BANKERS
AND
ATLANTA, GA.
NORFOLK, VA.
BANKERS
Exchange
James H. Adams & Co.
MUNICIPAL
MUNICIPAL BONDS
MEMBERS! NEW YORK STOCK EXCHANGE
[ CHICAGO BOARD OF TRADE
SAN FRANCISCO
LOS ANGELES.
SOUTHERN
Philadelphia.
for Information
AUGUSTA. OA
Chestnut and Third Sts..
INACTIVE
Invite Requests
lit Nat. Bank Bldg..
J. w. SPARKS &, CO.
4S1 Chestnut St..
PACIFIC COAST SECURITIES
JOHN W. DICKEY
proposed Investments.
REED
Wakefield, Garthwaite & Co.
Member The Stock and Bond
Investments receive our special attention.
In¬
formation cheerfully furnished regarding present
or
Branch. Coronado Hotel. Coronado Beach.
Correspondents,
Harris, Winthrop & Co., New York & Chicago
California
W. G. HOPPER,
H. S. HOPPER.
Members of Philadelphia Stock Exchange.
LOS ANGELES
AN FRANCISCO
We
PHILADELPHIA.
holdings
(Stock and Bond Exchange, S. F.
Private Wire to Chicago and New York.
THOS. PLATER & CO.
PITTSBURGH, PA.
Commonwealth Bldg.
FRANCISCO.
SAN
fNew York Stock Exchange.
MEMBER!Chicago F3oard of Trade.
McCONNEL
Members Pittsburgh Stock Exchange
BONDS
J. C. WILSON
NASHVILLE.
Quotations and Information Furnished on
PITTSBURGH SECURITIES
BALLARD
Municipal and Corporation
LOUISVILLE, KY
SECURITIES.
Union Bank Building,
PHILADELPHIA
NEW YORK.
WALKER BROS., 71 B'way. N. Y.
PAID-UP CAPITAL, $500,000
New York and Pittsburgh Stock Exchanges
and Chicago Board of Trade
MORRIS BROTHERS
TLAND
-
PORTLAND, MAINE
Richardson & Clark
26 Exchange Street,
Providence, R. I.
Bonds, Stocks and Local Securities.
Private wires to Boston, Philadelphia
and New York.
Established 1854
H. M.
PAYS0N
& CO.
Investment Securities
PORTLAND
-
-
-
-
MAINE
Oh as. H. Payson Geo. S. Pavson Herbert Paysot
TII
THE CHRONICLE
Dec. 3 1910.|
HanKtxs and fSvafeevs omtsid* U*w
ST
CHICAGO.
QREENEBAUM SONS
BANKERS
Corner Clark and Randolph Streets. Chicago.
High-Grade Investment Securities.
Chicago First Mortgages and Bonds for sale.
available In
Issue Letters of Credit for travelers,
all parts of the World.
General Domestic and Foreign BanklngBusiness.
Correspondence Solicited.
Send Jor out latest
lists of Securities.
Sanford F. Harris & Co.
CLEVELAND
LOUIS.
FRED. S. BORTON
T. E. BORTON
R. C. EN WRIGHT
$100,000
National Enameling &
Stamping Co.
BORTON
Refunding First Mtge Real Estate 5s
Due June 1, 1929.
Interest payable June and December.
BORTON
&
INVESTMENT SECURITIES
LISTED AND UNLISTED
STOCKS AND BONDS
OF CLEVELAND AND NORTHERN OHIO
This Issue of $3,500,000 00 bonds Is a first
mortgage on property and plants valued In excess
of $8,000,000 00.
The net earnings of the Company extending
over a period of nine years since Its organization
have averaged $1,219,649 09 per annum, or
approximately Four times the Interest and
sinking fund requirements.
The mortgage provides that the liquid assets
of the Company shall at all times be of an amount
at least equal to the aggregate debts of the
MEMBERS CLEVELAND STOCK EXCHANG*
GUARDIAN BUILDINQ
Hayden, Miller & Co.
Investment Bonds
Company, Including the outstanding bonds of
this issue.
INVESTMENT SECURITIES
application
CHICAGO
Slaughter & Co.,
A. G. EDWARDS ASONS
INDIANAPOLIS.
One Wall Street
Joseph T. Elliott & Sons
In St. Louis at 410 Olive Street
Investment Securities
Members Indianapolis Stock Exchange
BANKERS & BROKERS
1S9 MONROE STREET.
CHICAGO,
New
New
New
New
Members:
York
York
York
York
ILL.
Stock Exchange,
Cotton Exchange.
Coffee Exchange.
Produce Exchange.
WHITAKER
300 N.
Becker & Co.,
-
McCRUM
Local, Listed and Unlisted
STOOKS AND BONDS
ST. LOUIS
205 LaSalle St.
CHICAGO
REAL ESTATE
Engineers, Contractors
Exchange Place, NEW YORK
Chicago, Ills.
HIGH-CLASS BONDS
DEALT IN
KANSAS CITY. MO
J. G. WHITE & CO.
43-49
MUNICIPAL
and other
INVESTMENT 00.
City Ry. & Light Issue?.
Bldg.
ST. LOUIS
KANSAS CITY, MO.
Electric Railways, Electric
CIRCULARS AND UST ON APPLICATION
London Correspondents:
CINCINNATI.
Twin City Rapid Transit 6s, 1928
Minnesota Transfer Ry. 6s. 1916
St. Paul das Light Co. 6s. 1944
City of St. Paul 4 Hs
Twin City Telephone Co. 1st 6s
Correspondence Invited
on
J. G.
WEIL, ROTH & CO.
High-Grade Bonds
Engineering and Construction
Plans, Methods, Operation
for Investment
CHICAGO
CINCINNATI
8tats Savings Bank Bldg., St. Pend
EDGAR
MINNEAPOLIS.
WHITE A CO., Limited,
• Cloak Lane. Cannon St., E. C.
C. G. YOUNG
Dealers in
all Northwestern Securities
Edwin White & Co.
FRIEDLANDER
Public Utilities and Industrials
MINNEAPOLIS. MINN.
Twin City
A
Minneapolis National Bank Stocks
JOHN T. STEELE
BUFFALO, N. Y.
Government, Municipal
and
Mem. Am. Soc. C. B.
Cincinnati Securities
CINCINNATI.
OHIO
H. U. WALLACE
ENGINEER
PROVIDENCE.
ALBERT P. MILLER Jr
BUFFALO.
Corporation Bonds
INDUSTRIAL TRUST CO. BUILDINQ
Examinations, Reporta, Surveys, Supervision el
construction and operation of Electrlo and Steam
Railroads, Power Plants, Transmission linen;
Central Stations and Irrigation projects, is,
Ex-Supt. Illinois Centra) RR.; Calm Engines*
Illinois Central RR.: and Gen’l Manager Chloage
Lake Shore A South Bend Electrlo Railway.
Marquette Bldg.
CHICAQO ILL.
PROVIDENCE, R. I.
Local Securities
Established 1889
Qas, Electric Lighting & Railway
A. L. REGISTER A, CO.
Bonds and Stocks
ENGINEERS—CONTRACTORS
SPECIALISTS IN
Philadelphia
Buffalo and Western New York Securities
BODELL &
ROCHESTER, N. Y.
High Class 6% Bonds
60%
Write
JOHN
Stock Bonus
fer particulars
A.
Member Rochester Stock Exchange
104-106 Wilder Bldg.
CO.
ROCHESTER. N. Y.
fgfUning Httjjitwe**.
106 TO 209 BANIQAN BUILDINQ
PROVIDENCE
H.
M. CHANCE
Consulting Mining Engineer and Geologist
•
BURGESS
WALL ST*
Reports for Financing
CORPORATION BONDS
Rapid Transit System Bonds
SIXTY
NEW YORK
DEALER IN
WELLS & DICKEY CO
Light and Power
Plants,. Gas Plants, Financed,
Designed and Built.
Lnoal Securities.
SAINT PAUL.
San Francisco, Cal.
Investigations and Reports on Elec trie
Railway Qas, Electric light and Power
■Properties. Irrigation Systems. Ac.. lor
Financial Institutions and Investors.
Western Municipals.
MUNICIPAL
CALLAN
INVESTMENT BANKER
William R. Compton Co
I. W. Cor. Monroe & La Salle Sts.. Chicago.
Ktnsas
PETER J.
application
FOURTH ST.
Mehta .-Laclede
COMMERCIAL PAPER
H.
ALBANY, N.Y.
Application
(INCORPORATED.)
W.
on
INDIANAPOLIS
Fletcher Rank Bid*
4^% to 5%
net
Grcular
RAILROAD, MUNICIPAL AND
A. G.
I WILL BUY AND SELL
Municipal Bonds
To
TODD
NEWTON
INDIANA TRACTION SECURITIES
Missouri & Illinois
THE ROOKERY. CHICAGO
en
CO.
&
High Grade
Allerton, Greene & King
CORPORATION BONDS
INDIANAPOL
American Nat. Bank Bldg.,
Chicago Stock Exchange.
Chicago Board of Trade,
lSt. Louis Merchants* Exchange.
List
CLEVELAND. OHIO
Citizens’ Building,
ROOKERY
THE
A. O.
Price and particulars on
Bonds and
Preferred Stocks
of Proven Value.
COAL AND MINERAL PROPEBTXM
Examined, Developed, Managed
637 Drexel Bldg.,
^^PHILADELPHIA, PA
[701. LXXXXI
THE CHRONICLE
VIU
gSattfues atxd
ERVIN & COMPANY
A. B. Leach & Co.,
BANKERS
NATIONAL BANK
BANKERS
MAmh.riJNew York Stock E“hange
I Philadelphia Stock Exchange
149 Broadway, NEW YORK
FOR
BONDS
140 Dearborn Street, CHICAGO
Drexel
Capital, Surplus and
32,900,684 60
8,681,379 19
Branches
84 GALIANO ST., HAVANA.
226 MONTE ST., HAVANA.
CARDENAS.
CIENFUEGOS,
MANZANILLO,
GUANTANAMO,
MATANZAS,
SANTIAGO.
CAIBARIEN,
SANTA CLARA,
PINAR DEL RIO,
CAMAGUEY.
SAGUA LA GRAND*
SANCTI SPIRITUS,
CAMAJUANI,
CRUCES,
CIEGO DE AVILA.
HOLGUIN.
NEW YORK AGENCY—1 WALL ST.
BANKERS
Nos. 34-36 WALL ST., NEW TORE.
-
-
PRODUCE EXCHANGE. HAVANA.
PARKINSON & BURR
7 Wall Street
-
HEAD OFFICE—HAVANA
Building, Philadelphia.
\
C. I. HUDSON & CO.
/ $6,256,922 21
-
Assets
INVESTMENT Cash in Vaults
28 State Street, BOSTON
1
Undivided Profits
Long Distance Telephone No. L. D. 107.
Chestnut & 4th St., PHILADELPHIA
OF CUBA
,
Collections
53 State Street
NEW YORK
Specialty.
a
Sole Depositary for the Funds of the Republic ef
BOSTON
Cuba
Member American Bankers’ Association
Members New York and Chicago Stock Exchanges
750 Main Street
TELEPHONE 3070 JOHN.
HARTFORD
Cable Address—Banconac
Miscellaneous Securities
in all Markets
PRIVATE
WIRES
TO
BANK
E. W. CLARK & CO.
PRINCIPAL
76 CUBA STREET
BANKERS,
CITIES.
PHILADELPHIA
321 Chestnut St.
Members Phila. and New York Stock
Thomas L. Manson & Co.
100
N.
Y.
and
Boston
Broadway,
-
Stock
fClark,
Dodge & Co.
\First National Bank.
Exchanges.
NEW YORK
George P. Schmidt
J. Prentice Kellogg
Frederic Gallatin Jr.
Albert R. Gallatin
William A. Larned
Chas. H. Blair Jr.
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vico-President
John E. Gardln 1
Alvin W. Krtch }New
James H. Post J
Capital, $1,000,000
Members N. Y. Stock Exchange
111
Private Wires to Boston, Hartford, New Haven
Philadelphia
Broadway
LADD
NEW YORK CITY
TILTON
PORTLAND
A. M. KIDD HR & CO.
NASSAU STREET,
NEW YORK.
Established 1865
MEMBERS OF N. Y. STOCK EXCHANGE.
Allow Interest on deposits subject to sight check.
Buy and sell on commission stocks and bonds, and
deal In
RAILROAD BONDS
GUARANTEED STOCKS
P. W. BROOKS & CO.
BANKERS
on
.
We
20 Broad Street, New York
maintain
Dividend-Paying
Boston
70 State St.
Edwin P. Campbell
James G. MacLean
H. G.
Campbell & Co.
11 WALL STREET, NEW YORK
Members New York Stock Exchange.
Securities
Bought & Sold
on
N.
Y.
STOCK
STREET,
-
Stocks of
Railroad
Established 1859
OFFICERS.
VV. M. Ladd, President. R. S. Howard Jr., Asst. Cash.
E. CookinRham, V. Pres. J. YV. Ladd, Asst. Cashier.
VV. H. Dunckley, Cash.
Walter M. Cook, Asst. Cash.
Interest paid on Time Deposits and Savings Accounts.
Supply
Accounts of Banks, Firms, Corporations and Individuals
solicited.
We are prepared to furnish depositors
,
every
McCURDY,
HENDERSON & COMPANY
EXCHANGE
NEW YORK
facility consistent with good banking.
Effingham Lawrence & Co.
Members N. Y. Stock Exchange
BANKERS
MEMBERS N. Y. STOCK EXCHANGE
General Banking and Stock
Exchange Business.
III BROADWAY, NEW YORK
a
Norman S. Walker Jr.
John Y. G. Walker
Ex. Norton
DEALERS IN
Bonds and Guaranteed Stocks
Orders
Executed
J. S. Farlee.
WALKER BROS.
71 BROADWAY, N. Y.
INVESTMENT SECURITIES
all
H. L. Finch.
Markets.
W. S. Tarbell.
J. S. FARLEE & CO.
INVESTMENT SECURITIES
HARTFORD, CONN.
Simpson, Pearce & Co.
Members New York Stock
in
MEMBERS NEW YORK STOCK EXCHANGE.
Brokers and Dealers in
Members N. Y. Stock Exchange
Hanover Bank Building
11 PINE
DE¬
Commission
William Herbert & Co.
MEMBERS
SECURITIES
particularly in the
Companies.
Transact
deposits
Augusta
Maine
Henry G. Campbell
OUTSIDE
which deals
an
PARTMENT
Send for circulars
New York City
115 Broadway
H. Jones &. Co.
Chas
Municipal, Railroad and Corporation Bonds
BANK
OREGON
-
Capital Fully Paid - - - $1,000,000
Surplus and Undivided Profits $600,000
24 NASSAU STREET
PURCHASE AND OFFER ONLY
BONDS OF THE HIGHEST GRADE
Interest allowed
Cable: “Orlentment.”
Telephone: 3155 Rector
BANKERS
5
York Committee
Acts as Cuban correspondent of American
banks and transacts a general banking business.
SCHMIDT & GALLATIN
Tel. 2500 Rector
and
Exchanges.
Interest allowed on deposits.
New York Correspondents
STOCK BROKERS
Members
HAVANA
OF
11 WALL ST.. N. Y.
W. H. Goadby & Co.
Bankers and Brokers
Exchange
NO. 74 BROADWAY,
Telephones
111 BROADWAY
4480-1-2-3-4 Rector
NEW YORK
NEW YORK
giuanxial.
JOHN H. DAVIS &, CO.
BANKERS AND BROKERS,
No. 10 WALL STREET.
N. Y. and Phila. Stock Exchanges.
Orders for Stocks and Bonds executed upon all
Exchanges In this country and Europe.
Especial attention given to supplying high-class
Members
INVESTMENT SECURITIES.
Interest Allowed
on
PHELPS
1910
Jas. B. Colgate & Co.
86 Wall Street, New York.
Members
N. Y. Stock Ex.
Investment
<r
Bonds.
gfcje (&Dwzxnmzxit J^jcjcjcrmttant
P. O. BOX 27. MAIN OFFICE.
WASHINGTON, D. C.
29 Wall Street, New York City.
Members of New York Stock Exchange.
BONDS
Gash orders only in stocks
accepted
Deposits Subject to Checks
1852
VICKERS &.
E. & C. RANDOLPH
Members
Ill
York Stock Exchange.
Broadway, New York.
New
Open Market Securities Department
HORACE HATCH, Manager.
Dealers In Investment and Other Securities
United States and Canada
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
A MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES, BANKS. RAILWAYS
AND OTHER PUBLIC SERVICE CORPORA¬
TIONS.
TO BE FOUND IN ALL LEADING CERTIFIED
PUBLIC ACCOUNTANTS* OFFICES.
of the
Sample Copy 15 cents. Per Ammum $1
56
Deo. 3
1910.]
THE CHRONICLE
forattjciftl.
©uroeut
Stone & Webster
147 Milk Street,
Telegraph Co. Stock
BOSTON
We offer for Investment
London &
Broker
Corporations
NASHVILLE,
TENN.
-
under the management
of
our
organization
yield
to
describing these companies will be sent
The
most
conservative
bankers, brokers and
Investors have constantly before them
BABSON’S REPORTS
Lists Mailed
Upon Application.
Lawrence Barnum St Co,
BANKERS
27-29 PINE
Philadelphia
STREET, NEW YORK
Washington
Pittsburgh
ON
Fundamental Conditions
For details concerning these Reports or our
“Business Barometers’* (which we Install In banks
both for their own and customers’ use), address
Babson’s Compiling Offices, Wellesley Hills, Mass.
NEW YORK OFFICE, 24 STONE STREET
Largest Statistical Organiznt
27 Siatt) Street
United Rys. of St. Louis 4s
Union El. Lt. & P. Co. of St. L. 1st 5s
Union El. Lt. & P. Co. of St. L. Ref. 5s
Laclede Gas Co. of St. Louis 1st 5s
Laclede Gas Co. of St. Louis Ref. 5s
Kan. C. Ry. & Lt. 5s &
Draper Mfg. Com. -
U. S. Worsted Pfd.
Niles-Bement-Pona Com.
American Investment Sec’s Com.
Pere Marquette 1st Pfd.
Butte Water Co. ’5s, 1921
Indiana Cblunibus & East. 5s, 1926
Hudson River Elect, 5s, 1931
WANTED.
American Caramel Pfd.
Pere Marquette Com.
N. E. Investment Sec’s Pfd.
Waltham Watch Pfd.
Lynn Gas & Electric Co.
Atlanta Northern 5s. 1954
Page Woven Wire Fence 5s, 1922
Newport & Fall River 6s, 1954
HOTCHKIN
DEALT IN BY
Lansing Fuel & Gas 5s 1921
Canton (O.) Elect. Co. 5s, 1937
,
Balt. Elect. Co. Guar. Pref. Stock
(ESTABLISHED 1877)
West Chester Kennett & Wilmington 5s
214 North 4th
Seattle
Street, ST. LOUIS
COMMUNICATE WITH
George B. Atlee & ~o.
119 S. Fourth St.
Philadelphia
Union Railway, Gas & Electric
Portland Railway, Light & Power
ALL LOUISVILLE LOCAL SECURITIES
S. C. HENNING & CO.
116 So. 5th St.,
Hudson Companies Preferred Stock
Florida East Coast 1st 4^s, 1959
Commercial Cable 1st 4s, 2397
Fonda Johnst. & Glov. 4*4s, 1952
Ill. Cent., Litchfield Div. 1st 3s, 1951
WOLFF & STANLEY
Memphis Street Railway
Tel. 6557 Broad
Bank and Trust
And Constituent
NEW YORK CITY
Company Stock?
NEW YORK AND
BROOKLYN
2 WALL ST.
Ry & Lt
Companies’
Stocks and Bonds
WM. HUGHES CLARKE
Detroit, Michigan.
BOUGHT AND SOLD
CLINTON
27 William St., N. Y.
Commonwealth Pr
71 Broadway
LOUISVILLE. KY.
CO.
Duluth Edison Electric Com. Stock
Illinois Traction Common Stock,
Underly. Sec’s
FRANCIS, BRO. & CO.
HOLDERS OF
&
SPECIALISTS IN INACTIVE SECURITIES
Stock Exchange Bldg., Boston
Telephone Main 3448
In the U. S.
on
Boston
FOR SALE.
Selected for Conservative Investors.
request.
upon
bonds
CORPORATION
Our Manual
to.
Specialists.in Inactive Bonds.
RAILROAD
5% to 65496
GILBERT
Lighting Co. 6s, 1920
H. L. NASON & CO.
Shawmut Bank Building.
65
Congress St.,
BOSTON, MASS
Denver Union Water 5s & Stocks
Omaha Water 5s & Stocks
Dominion Iron & Steel 5s
Lake
County (Colo.j 4s
Xenia Water 6&
Dayton Lighting 5s & Com.
New Hampshire Elec. Rys. Com.&Pf.
F. W. MASON & CO
BOSton.eMSa;s.
WANTED
Pere Marquette RR. Common & Preferred
Omaha Water Co. 1st & 2nd Pref.
Western Power Co. Common
Monterey Light & Power 6s. 1929
Burroughs Adding Machine Co. Stock
FOR SALE
*
R. T. Wilson &. Co.
NEW YORK
Western Power Co. Common
S* WALL STREET
Qvnst ©nmjratxies.
C. H. FAR N HAM
NEW YORK
27 STATE STREET. BOSTON
Hudson Trust Company
Accountants.
Broadway and 39th St., N. T.
Official Statement (Condensed) November 10 1010.
RESOURCES.
Bonds of City and State of New York
(Market Value)
$838,999 00
Value)
212,471
167,049
915,512
1,935,796
15,096
12,000
2,000
11,327
870,783
_
__
KSlig
LIABILITIES.
_
$4,987,035 81
?“
Capital
$500,000 00
600,000 00
111,999 81
3,512 53
10,113 55
273 00
Surplus
Undivided
Profits
Reserved for Taxes
Interest Accrued Payable
Dividends Unpaid
DEPOSITS
3,761,186 S2
...
4
i.PHSMa
00
42
62
46
59
00
00
49
23
ROSS BROS &
$4,037,035 81
MONTGOMERY
INVESTMENT SECURITIES
74 BROADWAY
-
-
-
NEW YORK
Certified Public Accountants
(Pennsylvania)
GEO. B. EDWARDS
YORK,
165 Broadway
Tribune Building, 154 Nassau Street,
PHILADELPHIA,
Land Title Bldg. Telephone 4218 Beekman, NEW YORK, N. Y.
PITTSBURGH,
Union Bank Bldg. Negotiations, Investigations,Settlements,
In or out of New York City
CHICAGO, First, National Bank Bldg.
Satisfactory References
NEW
JAMES PARK & CO.
CERTIFIED
PUBLIC ACCOUNTANTS
New York, Chicago, Cincinnati and
London, England.
OFFICERS.
ELVBRTON R. CHAPMAN, President
Ff LOUIS H. HOLLOWAY. Vice-President
?FHB.TRY C. STRAHMANN, Vice-President
fWjOHir 0ERKEN, Vice-President
HBNRY G, LEWIS, Treasurer
WEBB & CO.
LYBRAND,
Sundry Stocks and Bonds (Market
N. Y. City Real Estate Mortgages.
Demand Loati3
Time Loans and Bills Purchased
Real Estate..'.'
Furniture and Fixtures
Rent paid in advance
Accrued Interest Receivable
Cash on hand and duo from Banks.
'■
FOR
FINANCIAL
INSTITUTIONS, INDUSTRIAL AND
New York State
Railways,
common
Mohawk; Valley Co.
Stocks and Scrip.
AUDITORS
.
MINING COMPANIES
MALCOLM STUART
‘
RIQHARD A. PURDY, Secretary
5s
5s
5s
Chicago Contract Stock
H. V. Spiller A
MUNICIPAL
5s
Omaha Water Co. 5s & Stock
Great Northern Power Co. 5s
New Hainp. El. Ry. Pref. & Com.
Raton Water=Works Co. 5s
Council Bluffs Water=Wks. Co. 6s
Glens Falls Gas & Electric Co. 5s
GOULDING MARR
Securities of
Public Service
Peoria Waterworks Cons. 4s&
Chic. Sub. Water & Light Co.
York=Haven Water Power Co.
Mich. Lake Superior Power Co.
BOUGHT AND SOLD
First Natl. Bank Bldg.
CHICAGO
NEW YORK
gutjuitics.
WANTED
Cumberland Telephone &
5 Nassau Street
IX
Investigations, Financial Statements,
Periodical Audlts^and^Accounting.
60 Broadway,
NEW YORK
Telephone:
165 R*
or
[VOL. LXXXXI.
THE CHRONICLE
X
®nxK*ut gmxrt QuqnixU*.
United Electric Co. of N. J.
Vicksburg Shreveport & Pacific P. L. 6s, 1915
Mobile & Ohio, St. Louis & Cairo Coll. 4s, 1930
Fort Street Union Depot 4J^s, 1941
Pere Marquette Rfg. 4s & Cons. 4s
Pere Marquette of Indiana 4s, 1943
Pennsylvania Coal & Coke 5s, 1953
First Mtge. 4s,
due 1949
BOUGHT AND SOLD
This company serves a population
of about 1,000,000, including the
cities of Newark, Jersey
City,
Atlantic & Danville 1st 4s, 1948
Rio Grande Junction 1st 5s, 1939
Great Northern of Canada 4s
Gulf & Ship Island 5s, 1952
Detroit & Mackinac 4s, 1995
AND ALL OTHER ST~AM RAILROAD SECURITIES DEALT
the
Hoboken, Elizabeth, Bayonne,
Oranges and Montclair.
6. W. Walker & Co.
Tel. 100 Broad,
IN
95 Broad St,, Now Tori
NORFOLK & WESTERN
Impt. & Ext. 6s, due 1934
F. I. USMAN &
CLEVE. COL. CIN. & ST. LOUIS
Oons. 6s, due 1934
COMPANY,
EVANSVILLE & INDIANAPOLIS
Cons. 6s, due 1926
SPECIALISTS IN STEAM RAILROAD SECURITIES
Members N. Y. Stock Exchange
BROAD
30
STREET,
NEW
YORK
Land Title & Trust Oo. Building, PHILADELPHIA
39 Pearl Street, HARTFORD
BANKERS
44 PINE STREET, NEW YORK
Members New York Stock Exchange.
WANTED
LIBBEY&STRUTHERS
Allegheny Valley 4s
Beech Greek First 4s
Gettysburg A Harrisburg 5s
8UTRO BROS. & CO.
Robt.G lend i n n I ng ft Co.
400 Chestnut Street. Philadelphia.
55 Cedar Street
Richmond-Washington Oo. 4s
West. N. 7. A Pa. 1st Mtge. 5s
MEW YORK
Pine Creek First 6s
Schuylkill River East Side 4s
MELLOR & PETRY
Choctaw Okla. & Gulf Cons. 5s
Norfolk & Western Equip. 4s
New Haven 6s
Pennsylvania Gen. Frt. Equip. 4s
Syracuse Rapid Transit 1st 5s
Lehigh Goal & Nav. Coll. Tr. 4}£s
Members
New York andlPhiladelphl&lStock
104 S. Fifth Street
Exchange
Philadelphia
We Offer
SOUTHWESTERN
OF
Manufacturers Water Co. 1st 5s
100
100
300
100
100
100
GEORGIA
5% GUARANTEED STOCK
H.
Saratoga 7s
Oregon Short Line 5s
Oregon Short Line 6s
SHARES
300
J
Rennselaer &
HILSMAN
Long Island Unified 4s
0. 0. 0. & St. L., Cairo Div. 4s
STREET, HEW YOBS.
INVESTMENT
BONDS
Private telephone between New York and Boaton
We buy and sell Bonds of
Electric Companies controlled
Individuals and
accounts of
on
Corporations
J. H. BECKER & CO.
80 Broadway. New York
WANTED
Grand Rapids Ry. Co. 1st M. 5% Bonds, duo 1B18
OFFER
St. Joseph Railway, Light. Heat & Power Co.
1st Mortgage 6% Bonds, 1937.
& Co,,
Sutton,
Strother
Calvert
German Streets
CO.
List of
quotations upon request; also
comprehensive circular letter in
regard to U. G. I. Stock.
a
very
REED A. MORGAN & CO.,
$25,000
West End Trust Bldg.. Phlla., Pa.
Members of the Philadelphia Stock Exchange
and
Telephones, iBell-Spruce 21-31.
I Keystone-Race 205
Niagara Lockport & Ontario
Power Co.
First'Mtge. 5% Sink. Fund Gold Bonds
due November 1st 1954.
Yielding 5.60%.
Exempt from taxation in New York State
Chicago & N. W. 7s, 1915
Ches. & Ohio Gen. Fund
Jan. & July, 1929
Morris & Essex 7s, 1914
Morris & Essex 7s, 1915
BURGESS, LANG & CO.
Private
NEW YORK
?A Pin. StrMt
BOSTON
SO Stat. StrMt
Members ot Baltimore Stock Exchange
Tel. 1504 John
Telephone 2417-8-9 John
BONDS
WANTED
Toledo Fremont & Norwalk 5s. 1920
Indianapolis Trac. & Term. 5s, 1933
Union Traction of Indiana 5s, 1919
SAMUEL K. PHILLIPS
CO,
421 Chestnut St.
Philadelphia
Members of Philadelphia Stock Exchange.
WANTED
Baker, Ayling & Company
BOSTON
Providence
Westinghouse Elec. & Mfg. Co.
5% Notes doe 19,3, 19J4, 19*5.
Impt. 5s,
BLAKE it REEVES
Wire
First
BALTIMORE
IMPROVEMENT
GAS
We offer
Price 90 & int.
Phlladtlphit
Gas and
by the
37.Wall St.. N. Y.
We Want to Buy
Wladikawkas Ry. 4s
Cuban Government (Internal) 5s
Houston & Texas Central 4s
Washington Water Power 5s
Walden & Orange Lake 5s
Pocahontas Consol. Collieries 5s
Kanawha & Hocking Coal & Coke 5s
Tel. 985 Rector
Boston
50 Congres* Street
UNITED
interest allowed
Tel. 8327-8 Hanover
New York
30 Broad Street
BANKERS
2 WALL
Col. & Southern 1st 4s
FERRIS & WHITE,
Plattsburgh Gas & Electric Preferred
T, W. STEPHENS & 00 FREDERIC H. HATCH & CO
& CO.
EMPIRE BUILDING. ATLANTA. OA.
WANTED
American Chicle Preferred
Del. Lackawanna &. West. Coal
Federal Light & Traction Common
Hudson Companies Preferred
National Fuel Gas
34 Pine Street, New Vonfe
Mortgage 6s
We offer two such issues earning
over three times the bond interest
Pingree, McKinney & Co,
8
Congress Street,
We desire
tax
Boston.
offerings of free of
bonds
in
the
State
of
Pennsylvania
(Issued under readjustment plan)
CURTIS A SANGER
Members N.Y.. Boston A Chicago Stock Exchange*
49 Wall Street
Boston
NEW YORK
Chlcaco
WURTS, DULLES & OO,
125 S. FOURTH ST..
PHILADELPHIA
.Telephone Lombard 1080*1081
Deo. 3 lttio.l
THE CHRONICLE
19th Ward Bank Stock
INVESTMENTS
Hudson Companies Preferred Stock
Automatic Electric Co. Stock
Amer. Gas & Elect. Co. Preferred Stock
Great Western Sugar Co. Common & Pref.
Mexican Int. 1st 4s, 1977 (stamped)
Syracuse Gas Co. 1st 5s, 1946
Keokee Cons. Coke Co. 1st 5s, 1959
Ashland Water Co. 1st Ref. 6s, 1929
The methods employed by conservative Investors In choosing their Investments, Is based on
a close analytical study of all the fundamental factors affecting the Investment, such
as the
value of the property pledged, the ability of the Company to continue earnings, the general
credit and standing of the Company, and the maturity, price, yield and market of their
securities.
These are points upon which every prospective investor should be Informed.
The ability to judge of the relative value of these several points Is only brought to perfection
through
of experience.
recommending to our clients a well-balanced Investment containing
A RAILROAD BOND
YIELDING 4.80%
A SHORT-TERM NOTE
“
4.90%
A RAILROAD EQUIPMENT BOND
“
4.80%
AN INDUSTRIAL BOND
“
6.00%
The average income on the above is over 5%.
These bonds have been selected because
they meet our ideas of a conservative investment.
Send Jor our Circular No. I—7
We
Slide,Winmill & C©
BANKERS
20 BROAD
xr
STREET, N. T.
years
are
Telephone 445-6-7 Rector
Chic. & N. W. (New) Gen. 4s, 1987
Oregon Short Line Pref. 4s, 1929
Reading Gen. 4s, 1997
Pittsb. Cin. Chic. & St. L. 4^s, Ser.B
Pennsylvania Co. 43^s, 1921
Pennsylvania Co. 33^s, 1937-1941
NEWBORG & CO.,
MEMBERS N. Y. STOCK EXCHANGE
60 BROADWAY. N. Y.
Telephone 4890 Rector,
Cable Address,
•’NEWROS3"
PRIVATE WIRE TO ST. LOUIS
Missouri Kansas & Texas 1st Ext. 5s, 1944
Missouri Kansas & Texas of Texas 1st 5s, 1942
Nassau & Suffolk Lighting 5s, 1935
Schwarzschild & Sulzberger 6s, 1916
Havana Tobacco 5s. 1922
Chicago Subway 5s, 1928
Detroit & Flint 5s. 1921
Kirby Lumber Common
General Motors Common
American Light & Traction Stock
We will furnish quotations on all Inactive or
Guaranty ofTrust
Company
New York
28 Nassau
5th Ave. & 43d St.,
BANKERS
5 Nbbssu Street
NEW YORK
New York
33 Lombard St.y London, E. 0
OFFERINGS WANTED
Cleveland Elyria & Western Cons. 5s, 1920
Evansville Gas & Electric 1st Mtge. 5s, 1932
Decatur Ry. & Lt. Co. 1st Cons. 5s, 1933
R. M. Stinson & Co.
North American Hide.,
PHILADELPHIA
Members Philadelphia Stock Exchange
’Phones Bell Walnut 22-90
Keystone Race 4-99
20 Broad St.. K. Y
Topeka & Santa Fe Railway
GILMAN &, CLUCAS
1st Nat. Bank Bldg..
NEW YORK
The greatest gold
.
34 WALL ST
Rock Island 6s, Registered, 1917
Edison El. Ill. Co.(Bklyn.)4s, 1939
N. Y. L. Erie & Western 7s, 1920
United N. J. RE. & C. 4s, 1929 & 1944
N. Y. Penn.& O. Prior Lien 4)^3,1935
Duluth & Iron Range 5s, 1937
Kansas City Southern 5s, 1950
3o$epbmaIfter$$dii$
MembersNewYork Stock Exchange,
20
J
Broad
St.
New York.
Private wire to Philadelphia.
ytfin & Company
NEW YORK.
v
OFFER
Lexington Ave. & Pavonia Ferry 5s
Columbus & Ninth Avenue 5s
Kansas City Southern 5s
Fort Worth & Rio Grande 4s
N.Y. N.H.& Hartf. Deb. 4s, 1955
Tol. & Ohio Cent., Western Div. 6s
Illinois Central, Cjairo Bridge 4s
Phelps Dodge & Co.
Thom dson-Starrett Common
Underwood Typewriter Common
Wells Fargo & Co. Express
'Phones 7460 to 7466 Hanover.
33 Wall
St., N.Y,
WANTED
Danv. Urb. & Champ. Ry 5s, Mch.'23
Decatur Ry. & Lt. Co. 5s, Dec. 1933
Peoria Gas & Elec. 5s, Jan. 1923
Toledo Fremont & Norw. 5s, Jan.1290
Edward V. Kane & Co.
camp
Railroad and Other
in the world
Learn about it before the rush
Write us to-day for information
Investment Bonds
WARREN, GZ0WSKI & CO.
Members Toronto Stock
Exchange
25 Broad Street,
New York.
Swartwout & Appenzellar
BANKERS
Cin.Ind.St.L.& C.4s, Reg. 6s, 1936
Ch. S.L.& Pitts. 1st 5s, Reg., 1932
Buy
Adams Express
International Nickel Common
H. W. Johns-Manville Com. & Pref.
Otis Elevator Preferred
MORRIS BUILDING, PHILADELPHIA.
Telephones,Bell-Spruce 3782. Keystone,Race 630.
Equipment Bonds and Car Trusts
DOUGLAS FENWICK & CO.
25
100
25
100
23
50
50
53
PORCUPINE
Tel. 7759 1-2-8 Hanover
87 Wail Street
NEW YORK
Tel. John 108
J. K. Rice, Jr. A Co. Will
84 Pine Street
NEW HAVEN. CT.
& COMPANY
New Orleans Mobile & Chicago 5s
New Mexico Railway & Coal 6s
New York Municipals
New Jersey Municipals
Ohio Municipals
Singer Manufacturing
Safety Car Htg. & Ltg.
Underwood Typewriter Preferred
Western Pacific Ry.
FOR SALE
Atch.
The highest authorities declare
EVER
American Express
Bordens Milk Common
Hudson Companies Preferred
Nat. Ltv Heat & P. Preferred
J. K. Rice* Jr. & Co,
PATERSON & CO.,
Tel. 1985-6-7 Rector
New Haven Deb. 4s, 1956
B. & O., Pittsb. Middle Junction 3Hs
Denver & Rio Grande Impt. 5s, 1928
Choctaw Okla. & Gulf Cons. 5s, 1952
Choctaw Okla. & Gulf Gen. 5s, 1919
15
100
50
50
35
52
100
118
N.Y& Westchester Ltg. deb. 5s, 1954
Eastern Okla* Div* 1st 4s, due 1928
Atlantic & Danville 1st 4s, 1948
J. K. Rice, Jr. A Co. Will Sell
Mt. Morris Elect. Lt. 5s, 1940
Central Union Gas 5s, 1927
Northern Union Gas 6s, 1927
Milwaukee Lt. Heat & Tr. 5s, 1929
Columbus & 9th Ave. 1st 5s, 1993
listed securities
We specialize in coal company bonds
MEGARGEL & CO.
Street, New York
Branch Offices
49 WaU Street
Nevada-Californta Power Co. bonds and stock
Denver & N. W. Ry. 5s and stock
Northern States Power Co.
Denver Gas & Electric 5s
Northern Idaho & Montana Power Co,
JAMES N. WRIGHT & CO
Members N, Y. Stock Exchange
44 Pin© Street
C< K, BL WADE
Tel. 6744 Hanover
DENVER, COLO.
NEW YORK CiTY
Amer. Light & Traction Stocks
Pacific Gas & Electric Co. Stocks
Commonwealth P. Ry.& L. Stocks
Indiana Ltg. Co. Stocks & Bonds
WANTED
Celltioid Company Stock
Somerset Union & Middle*
Ltg* Stock
Tri-City Ry. & Light Co. Stocks
Lacombe Electric Co. 5s
LAMARCHE &
Tel. 5775-6 Broad.
COADY,
23 Broad St..
N Y.
W. £. R. SMITH & C0-_,
20 Broad Street
-
-
New
STor
Minneapolis & St. Louis 5s, 1911
Second Ave. Receivers’ Ctfs. 5s, 1911
Metropolitan St. Ry. 5% Receivers’ Ctfs.
Atlanta Birm. & All. 5% Receivers’ Ctfs.
Philadelphia & Reading 7s and 6s, 1911
Colorado=Utah Construction 6s
St. Louis & San Francisco 43^s, 1912
American Locomotive 5% Notes
Mexican Central Consol. 4s
Texas & New Orl., Sabine Div. 6s
Milwaukee & Lake Winnebago 6s, 1912
MATURING ISSUES WANTED
WERNER BROS. & GOLDSCHMIDT
Tel. 4800-1-2-3-4-5 Broad.
25 Broad Street, N. Y.
£31
THE
CHRONICLE
j\OL,
ginanjcial.
iginatnciffl.
e
Own and Offer for
L.vX A-l
December Delivery
$400,000
!|
Green Bay Water Company |
£1It
CCitiarus OLcutral
Rational gank
of
(Green Bay, Wisconsin)
Itofe
320 BROADWAY
First
Mortgage 6% Gold Bonds
Bonds dated September 1st 1910 and
due serially from September 1st 1916 to
September 1st 1940. Optional at 102 y2 and Interest on September 1st 1916,
or on any interest date thereafter.
Interest payable March 1st and
September 1st at the WISCONSIN TRUST COMPANY, MIL¬
WAUKEE. WIS., TRUSTEE. or at any of the offices of
Edwin S. Schenck, President
Francis M. Bacon Jr., Vice-President
Albion K. Chapman. Cashier
Jesse M. Smith. Asst. Cashier
James McAllister, Asst. Cashier
W. M. Haines, AssL Cashier
E. H. Rollins & Sons.
THE GREEN BAT WATER COMPANY operates by an indeterminate
permit under the Public Utilities Law of Wisconsin, and furnishes, without
competition, water for domestic, commercial and municipal use in the city of
Green Bay.
The issuance of the $400,000 bonds has been approved by the State
Railroad Commission.
tsapitej
«
-
$2,550,000
Surplus and Profits $1,700,000
Approximately $350,000 has been expended in enlarging and extending
the
property in the past five years.
The City of Green Bay is the county seat of Brown County, located in
excellent agricultural,
River Valley, Wisconsin.
manufacturing and shipping district in the Pox
The population of the city was 25,236 by the
an
Census of 1910.
The
current
fiscal
the rate of
in excess of
years earnings are at
$55,000 per
year net, or
twice the bond
H. M. Byllesby & CO.
ENGINEERS
interest
No unfavorable industrial or financial conditions adversely affect the
earnings of this class of public service corporation.
The mortgage has been prepared under the direction of our attorneys
(Messrs. Wood & Oakley of Chicago), who approve the legality of the bonds.
Reports and opinions furnished upon request.
We recommend the bonds as a thoroughly conservative investment.
Full descriptive circular on request.
>.
EXAMINATIONS aud REPORTS
218 I,a Salle Street. CHICAGO
Portland. Ore
GSUiboirs City, U sun bom/..
Mg bile. Ala.
PRICE 101 AND INTEREST
giuidcu&s.
E. H. ROLLINS & SONS
(ESTABLISHED 1876)
Office of
H. M. BYLLESBY’ & COMPANY’,
Engineers,
Managers,
Chicago.
The
GAS
MUNICIPAL, RAILROAD AND CORPORATION BONDS
Boston
Chicago
New York
Denver
San Francisco
Board of Directors of the
& ELECTRIC COMPANY
OKLAHOMA
of Oklahoma
City, Oklahoma, has declared a quarterly dividend
of two per cent (2%) upon the common stock of
the company, payable by check December 15th
1910 to stockholders of record as of the close of
business November 30th 1910.
ROBERT J. GRAF, Assistant Secretary.’
Office of
H. M. BYLLESBY
& COMPANY,
Engineers,
Managers,
Chicago.
MELLON NATIONAL BANK
PITTSBURGH, PA.
As your reserve depositary, this
bank offers you perfect service and
liberal interest on your balances.
CAPITAL AND SURPLUS,
-
$7,000,000
Ready About January 15, 1911
Range of Prices for Stocks and Bonds
FROM
1907 to
January 1, 1911
Earnings, Fixed Charges and Dividends for Series of Years
Hand Book of Securities
Commercial & Financial Olironicle
Front
Fine end Depeystor Streets,
The Board of Directors of the ,SAN DIEGO
CONSOLIDATED GAS
&
ELECTRIC COM¬
PANY of San Diego, California, has declared a
quarterly dividend of one and three-quarters per
cent (1 H%) upon the common siock of the com¬
pany, payable by check Decemoer 15th 1910 to
stockholders of record as of the close of business
November 3,0th 1910.
ROBERT J. GRAF, Assistant Secretary.
Office of
H. M. BYLLESBY &
COMPANY,
Engineers,
Managers,
Chicago.
The Board of Directors of the MUSKOGEE
GAS & ELECTRIC COMPANY of Muskogee,
Oklahoma, has declared a quarterly dividend of
one and three-quarters per cent (1 %%) upon the
preferred stock of the company, payable by check
December 15th 1910 to stockholders of record
as of the close of business November 30th 1910.
ROBERT J. GRAF, Assistant Seoretary.
STANDARD
GAS
Office of
& ELECTRIC
COMPANY,
Chicago.
The Board of Directors of tho STANDARD
GAS oc ELECTRIC COMPANY has declared a
quarterly dividend of one and three-quarters per
cent (1 %%) upon the preferred stock of the com¬
pany, payable by check December 15th 1910 to
stockholders of record as of the close of business
November 30th 1910.
W. F. STEVENS Jr., Setretary.
iums.
amalgamated asbestos corporation.
At a meeting of the Board* of Dlreeters of the
Amalgamated Asbestos Corporation, Limited,
held in Montreal November 28th last, Mr. R. M.
Altken, of Messrs. Kltcat & Altkea* Leadon,
was elected a Member of the Bnwrt.
’
il.
Deo. 3
THE CHRONICLE
1910.]
XIU
gitxatxjcial.
OFFERING at Par, $100 per Share, of 7% Cumulative
Preferred Stock, with Special “Rights”
of the
Pay-As-You-Enter Car Corporation
Capital, $5,000,000
divided
.
15,000 Shares,
25,000
into
$1,500,000
2,500,000
value $100, 7% PREFERRED stock (all issued)
par
14
a
a
a
a
a
$100, COMMON stock, issued
and
10,000
1,000,000
$100, COMMON Treasury stock
$5,000,000
Vice-President
President
duncan McDonald
R. L. MacDUFFIE
Secretary and Treasurer
WM. A. KERR
General Alanager
THOMAS W. CASEY
DIRECTORS
GEORGE
CARRAGAN,
President, First National Bank, Bayonne, N. J.
ALFRED I. DU PONT,
V!ce-Pres., DuPont de Nemours Powder Co , Wilmington, Dc!.
HENRY C. ESLING,
Attorney-at-Law, Philadelphia, Pa.
DeWITT C. FLANAGAN,
President, H. Clausen Son’s Brewing Co., New York.
JESSE W. LILIENTIIAL,
Director, Anglo & I.ondon-Parls Nat’l Bank, San Francisco.
DUNCAN MCDONALD,‘
General Manager, Montreal St. Ry. Co., Montreal, Canada.
PAYNE,
President, Newport News & Old Point Ry. & Electric Co.
T. M. T. RABORG,
Director, Hungarian American Bank, New York.
W. G. ROSS,
Managing Director, Montreal St. Ry. Co., Montreal, Canada.
WM. J.
ARCHIBALD S. WHITE,
President, Columbia Gas & Electric Co., Cincinnati, O.
JOHN ALVIN YOUNG,
President, Windsor Trust Co., New York.
Rcipstr^rs
Transfer Agents
THE STANDARD TRUST COMPANY,
of
Sinking
Fund
New
THE
York.
NEW YORK TRUST
New York.
COMPANY,
The Certificate of ►Incorporation provides that after the payment of all accumulated dividends upon the Preferred Stock
at the rate of seven per cent (7%) per annum, of the remaining surplus or net profits thirty-three and one-third per cent
(33 1-3%) shall be set aside and paid into a sinking fund, to be applied to the redemption of the Preferred Stock whenever
and as often as the accumulations of such sinking fund shall equal ten per cent of the par value of the Preferred Stock then
applied on the next succeeding dividend date to the redemption
at One Hundred and Ten Dollars ($110) per share; provided,
the first day of June 1912; the provision for the sinking fund for the
redemption of the Preferred Stock to be applicable until all of the Preferred Stock shall have been redeemed; and Preferred
issued and outstanding; that such accumulations shall be
of the Preferred Stock from all holders thereof, pro rata,
however, that no such stock shall be redeemed prior to
Stock so redeemed not to be reissued.
All proceeds from the sale of any property of the Company, its foreign
cept In the conduct of Its current business, to be set aside and paid into the
tion of the Preferred Stock.
Business
patents, or liquidation of any of Its assets, ex¬
sinking fund, to be also applied to the redemp¬
Tha Pay-As-You-Enter Oar is the most important street railway improvement c£ recent years and
ha3 now been accepted as the ‘‘Standard ’ car for modern street railway practice.
The system is now
in use on over sixty of the principal roads, and negotiations are in progress for it3 adoption by a large
number of other cities and suburban lines at home and abroad. Over 6,000 cars are at present in serv¬
ice.
About 100,000 street cars are available for remodeling or replacement by new cars. From 8,000
to 10,000 new street cars are built annually.
The net earnings of the corporation for the year ending
June 1 1910 approximate 21% on the entire issue of preferred stock.
Option Rights
A Purchaser of the Preferred Stock at par ($100) has the right to acquire a
amount of Common Stock (par value $100) at $25 per share up to July I,
COMPLETE PROSPECTUS, WITH
like
1911
AUDITOR’S CERTIFICATE, ON APPLICATION.
Carlisle & Co*, Bankers and Brokers, 74 Broadway, New York
The
right Is reserved by Carlisle & Co., Syndicate
Managers, to allot to any subscriber a smaller number of shares than applied for.
Subscriptions to be made payable to
The Standard Trust
Company of New York
Depositary for the Corporation
25 Broad Street, New York,
which will
issue
receipts exchangeable for engraved certificates*
JUutdcruis.
gittitfjetuts.
THE DENVER & RIO GRANDE
RAILROAD CO. (Consolidated).
165 Broadway. New York, December 1st 1910
The Board of Directors has this day declared
a semi-annual dividend of TWO AND ONE-HALF
PER CENT
on the Preferred Stock of
this Company, payable January 16th 1911 to
stockholders of record on December 24th 1910.
The transfer books of the Preferred Stock will
close at 12 o’clock noon on December 24th 1910
and will re-open on the morning of January 9th
1911.
STEPHEN LITTLE, Secretary.
AMALGAMATED
ASBESTOS CORPORATION.
LIMITED.
New York, December 1st 1910.
A regular quarterly dividend of 2 M per cent
and an extra dividend of 5 per cent on the capital
stock of Mergenthaler Linotype Company will be
paid on December 31 1910 to the stockholders of
record as they appear at the close of business on
December 10 1910.
The Transfer Books will
not be closed.
FRED’K J. WARBURTO N, Treasurer.
Ef irduPONT DE NEMOtlRS POWDER COL
Wilmington, Del., Nov. 30th, 1910.
The Board of Directors has this day declared
the regular quarterly dividend of 2% on the
common stock of this company, payable Decem¬
ber 15th, 1910, to stockholders of record at close
of business December 5th, 1910; also, dividend
of l X% °n the preferred stock of this company,
payable January 25th, 1911, to stockholders of
January^ 14th, 191L.
BROOKLYN RAPID TRANSIT COMPANY.
record on
Montreal. Canada.
Coupons due December 1, 1910, on the First
Mortgage 5% Gold Bouds of the Amalgamated
Asbestos Corporation, Limited, will be paid on
and after that date on presentation at the Bank
of Montreal in New York City, The Royal Trust
Company in Montreal and Toronto, and the chief
office of the Bank of Scotland In London* England.
R. P. DOUCET, Treasurer.
ZHudUUttA*.
MERGENTHALER LINOTYPE COMPANY.
New York. November 18th, 1910.
The Board of Directors has this day declared
quarterly dividend of ONE AND ONE-QUAF¬
TER PER CENTUM on the capital stock of this
a
Company, payable January 1st, 1911, to stock¬
holders of record at the close of business on
Faturday, nppo-nhf.r 10+h, 1910.
O. D. MENEELY, Secretary and Treasurer.
AMERICAN BRAKE SHOE & FOUNDRY CO.
The Board of Directors have this day declared
the regular quarterly dividend of 1 h % on the
Eref31
erred
payable
stockstockholders
of this company
Decem1910
December
16
of record
to
er
1910.
Transfer books will not be closed.
HENRY C. KNOX. Secretary.
AMERICAN BRAKE SHOE * FOUNDRY CO.
The Board of Directors have this day declared
the regular quarterly dividend of 1 %% on the
common stock of this company payable Decem¬
ber
31 1910 to stockholders of record Decem¬
ber 16 1910
Transfer books will not be closed.
HENRY C. KNOX. Secretary.
l&jeetittjjs.
THE NATIONAL CITY BANK OF NEW YORK.
1\
r
December 3r<L 1910. 7
The annual meeting of the shareholders of this
bank, for the election of directors and the trans¬
action of such other business as may be brought
before It. will be held at Its banking house in Wall
Street, on Tuesday, January 10th, 1911, at
twelve o’clock noon.
A. KAVANAGH, Cashier.
xrr
THE CHRONICLE
(VOL.
LXXXXl.
IPtianxial.
INVESTMENT
United New Jersey RR. & Canal Co.
T~"
BONDS
Genl.(now 1st) 4sv 1929
Pennsylvania’s new terminal In New York City costing over $100,000,000 can only be reached over
the lines between Philadelphia and New York covered by this Issue as a first mortgage, which cannot be
Increased.
Property earns approximately twice the annual rental under Pennsylvania’s 999 lease.
PRICE 101M AND INTEREST, TO PAY
3.88%
Chicago & Eastern Illinois RR. Gen’l Cons. 1st 5s, 1937
SE T
A mortgage on 817 miles of road serving rich agricultural and coal
and forming the only entrance of a system of 6,037 miles to Chicago.
■'
miles, including
113‘miles
S-
territory In Illinois and Indiana
They are a first mortgage on 450
of the main line between Chicago and St. Louis.
PRICE 111 AND
iNTEREST, TO PAY 4.30%
Denver &. Rio Grande Improvement
^
*
-
£[§
“
-■
Mortgage 5s, 1928
An old underlying closed mortgage on the original main lines and branches of the Company at $5,050
per mile.
Followed by $32,944,000 junior mortgage at $13,026 per mile.
Ever since these bonds were
Issued in 1888, Company has paid dividends on its preferred stock.
.
PRICE 102 AND
INTEREST, TO PAY 4.82%
Wilkes-Barre & Eastern Railroad 1st 5s, 1942
A closed first mortgage on railway In the heart of the anthracite region of
Pennsylvania, giving one of
the short lines between the coal fields and New York Harbor its only access to this extremely
valuable
tonnage-producing territory.
when property was operated
Have been outstanding since 1892, and during panic period followingil893,
independent road, this interest was alwaysipromptlylmet.*
as an
PRICE 101 & AIMD
Full
INTEREST, TO PAY 4.90
particulars furnished
on
request
BANKERS
27 William
St.,
NEW YORK
CHICAGO
232 La Salle St.,
54 Old Broad St.,
LONDON, E. C.
Members New York and Chicago Stock Exchanges.
THE PEOPLES TRUST & SAVIi
WANTED—A Now York Bond House,
members of New York and Chicago
Stock Exchanges, long and favorably
known in Western markets, and possess¬
Opened December First in the New
ing
every facility for transactions in
bonds and stocks, desires the services
PEOPLES GAS BUILDING
of
especially familiar with the
of taking
charge of and managing a Chicago
office.
Only experienced men will be
considered.
All
replies will be re¬
garded as in strict confidence. Address
Michigan Ave. and Adams St,,
Chicago
CAPITAL $500,000.00
It will
SURPLUS $100,000.00
General
transact a
a
man
bond business and capable
Banking Business.
‘•Western,” P. 0. Box 822, New York
City.
Checking and Savings Accounts Solicited.
DIRECTORS
CHARLES G. DAWES,
Pres. Central Trust Co. of Ill.
J. KRUTTSGHNITT,
Vice-President Southern Pacific Co.
GEO. M. REYNOLDS,
President Continental & Com’I Nat. Bank
S. M. FELTON,
President Chicago Great Western RR.
WANTED
W. IRVING OSBORNE,
Pres. Continental and Commercial
&
Savings Bank
JAMES F. MEAGHER,
Vice-President Peoples
Coke Co.
C. H. BOSWORTH,
President
Gas
Trust
Light
&
UtMCfeRS
C. H. BOSWORTH, President
W. J. COOK, Secretary
■
Legal for Savings Banks
and Trust Funds
R. M. GRANT & CO.
BANKERS
31 NASSAU STREET
NEW YORK
R. H. GRIFFIN, Cashier
EARLE H. REYNOLDS, Asst. Cashier
LOUISVILLE & NASHVILLE RAILROAD CO.
71 Broadway, New
York, November 25 1910.
Pensacola & Atlantic RR. Co. 6% Mortgage.
In accordance with the terms of the
mortgage
of the Pensacola & Atlantic Railroad
Company,
the following sixty-three (63) bonds have this day
been drawn by the Trustees for the
Sinking Fund,
viz.: 95, 121, 144, 147, 152, 153, 158, 346, 383,
429, 431, 438, 482, 547, 581, 746, 790, 809, 924,
952, 986, 1010, 1014, 1029, 1030, 1037, 1079,
1130, 1165, 1212, 1303, 1335, 1352, 1417, 1421,
1441, 1670, 1768, 1809, 1831, 1844, 1931, 2007,
2047, 2102, 2107, 2113, 2130, 2141, 2143, 2155,
2213, 2215, 2217, 2256, 2311, 2324, 2342, 2364,
2384, 2458, 2470, 2489.
The interest on the same will cease February 1
1911, and the principal of the bonds will be re¬
deemed at this office on and after that date, plus
ten per cent premium.
E. L.
Municipal Bond Salesmen, one
experienced in New York State, one
experienced in Pennsylvania, by Ohio
Municipal Bond House. Replies will
be held in confidence.
Address—stat¬
ing
Notices.
Municipal Bonds
Two
SMITHERS, Assistant Treasurer.
age, experience and references—
B. C. D., care the Chronicle, P. O. Box
958, N. Y. City.
Bond Salesman with an established clientele
desires to represent a reliable house in Eastern
Pennsylvania.
Address H. D. M., care Chron¬
icle. P. O. Box 958. N. Y.
OTTO JULIUS MERKEL
BROKER
44 AND 46 WALL STREET.
NEW YORK
INVESTMENT SECURITIES
Correspondence Invited
EDWIN R. CASE
NEW
JERSEY
No better State
SECURITIES
No better Securities
15 EXCHANGE PLACE
Tds. 368 and 761
JERSEY CITY
„
Dec. 3
xv
THE CHRONICLE
1910.]
fPttatijdUdL
$5,400,000
International Agricultural Corporation
7% Cumulative Preferred Stock
Voting Trust Certificates)
Par
Not
valne $100 per share—Preferred as
to
assets
and
Redeemable. Dividends payable 3%%, Janaary 1st and
Transfer
Registrar
we
Agent:
BANKERS
Stock:
of
FIRST
TRUST
COMPANY
NATIONAL
BANK
of
of
dividends.
July
New
New
1st.
York.
York.
Having already sold the larger part of the above 54,000 shares,
oiler the balance subject to previous sale.
PRICE $97.50 PER SHARE
The International
Agricultural Corporation was incorporated in the State of
New York in July, 1909, and owns a number of fertilizer manufacturing plants,
the capital stock of the well known Soilstedt Potash Mines in Germany, large
all
de¬
posits of phosphate rock in Tennessee, and all the capital stock of the Prairie Peb¬
ble Phosphate Company in Florida, one of the most extensive and valuable
phosphate deposits in the country.
Earnings
For
Net
year
ended June 30,
1010.
as
reported:
$1,017,504
Earnings
*437,271
7% Preferred Dividend
$580,233
Surplus
•The dividend paid amounted to only S437.271 because the corporation did
cot acquire several of its properties until the middle of its fiscal year
The Corporation estimates that the net earnings
1911, will exceed $1,500,000,
or more
preferred stock outstanding
on
ending June 30,
than double the 7^ dividend on the $10,124,000
year
June 30, 1910.
opinion this preferred stock constitutes an attractive investment because
the following points:
In
of
for the
our
The stability and certain growth of the fertiliser
(1)
business.
(2)
The moderate capitalisation of the Corporation, its
excellent credit and experienced management.
(3i
Its strategic position through ownership of ample
supplies of potash and phosphate rock, the two
principal ingredients of commercial fertilisers.
Descriptive circular embodying a letter signed by William N. Shaw, Esq.,
Vice-President of the Corporation, will be sent on request.
Application will be made to list this issue
on
the New York Stock Exchange
Receipts of the Bankers Trust Oo. of New York will be delivered against payments for
of 7 % on par from date of payment to Deo. 31st, inclusive.
These receipts will be exchanged after January 3rd, 1911, for the Voting Trust Certificates.
Interim
this stock and will bear interest at the rate
White, Weld 3c Co
Members of the New York Stock
5 Nassau Street
New York
Exchange
The
Rookery
Chicago
1YI
THE CHRONICLE
[VOL.
I.XXX • 1
financial.
DECEMBER INVESTMENTS
To Yield About
$150,000
75,000
100,000
Cleveland Columbus Cincinnati & Indianapolis Ry. Co.
General Consolidated Mortgage 6s of 1934..
4*30%
Duluth Missabe & Northern Ry. Co.
General Mortgage 5s of 1941
4*75%
Florida East Coast Ry. Co.
First
100,000
Mortgage 4 !is of 1959
Chicago Burlington & Quincy RR. Co.
Illinois Division First
100,000
4-03%
Northern Pacific-Great Northern Ry.
Q. Joint Collateral Trust
4s of 1921
100,000
.
5 35%
.
St. Louis & San Francisco RR. Co.
Refunding Mortgage 4s of 1951
Missouri Kansas & Texas Ry. Co.
General
50,000
4*50%
Tidewater Company
First Lien Guaranteed 6% Notes of 1913
100,000
4 08%
Mortgage 4s of 1987
C. B. &
100,000
Mortgage 3%s of 1949
Chicago & North Western Ry. Co.
General
100,000
4♦05%
5*00%
Mortgage 4%s of 1936
5*50%
Seaboard Air Line Ry. Co.
First Mortgage Stamped 4s of 1950
4*75%
Investments Tax-Exempt in New York State
$50,000
50,000
Ulster & Delaware Railroad Company
First Consolidated Mortgage 5s of 1928
Albany Southern Railroad Company
First
25,000
Mortgage 5s of 1939
5*03%
Binghamton Railway Company
First Consolidated
30,000
4*55%
Mortgage 5s of 1931
5*15%
New York Telephone Company
First and General Mortgage 4J^s of 1939
4*60%
List of 25 Tax-Exempt Guaranteed
Stocks sent on application
Our December circular, giving information
concerning the above securities, will be sent on request.
Ve Will also be glad to submit other lists of
securities conforming with the special requirements of
individual investors, estates and financial institutions.
Kfcdnumd fcCo,
Foreign and Domestic Bankers
Issue Letters of Credit and Travelers*
transact
33 Pine
624 Fifth
a
Street,
Avenue, New York
Cheques available in all parts of the world, and
general banking business.
-
-
New York
507 Chestnut Street,
Cable Address “Mimosa,” New York
Philadelphia
Tin’
rant rli'
flitimerria
VOL. 91
DECEMBER 3 1910
CLEARINGS—FOB
NOVEMBER, SINCE JANUARY 1, AND FOR WEEKENDING NOV. 26
November.
Eleven Months.
Clearings at—
1910.
New York
9,063,576,653
626,608,302
215,282,202
140,997,540
43,393,546
27.848.204
30,874,288
17,607,939
11,397,962
10,690,7161
11.113.204
G,541,25oj
7,034,371
6.259.135
6,008,557
5,897,142
6,113,557
7.192.135
7,537,336
6,585,058!
7,262,025
5,300,000
5,920,048
4,311,153
4,070,936
3,669,960;
3,576,694
2,155,735
2.244,236
2,470.448
2,301.779
2,209,400
1,809,200
2,064,611
1,913,760
1,250,000
1,273,219
Pittsburgh.
Baltimore
Buffalo
Albany
Washington
Rochester
Scranton
Syracuse
Reading.
Wilmington
Wilkes-Barre
Wheeling
Trenton
Harrisburg
York
Erie
Greensburg
Chester
Binghamton
Altoona
Franklin
Frederick
1,095,080
Total Middle
735,921.634
40,703.500
17,108,246
11,999,050
9,726,207
9,337,797
Providence
Hart ord
New Haven
Springfield
Portland
Worcester
Fall River
New Bedford
Lowell
9.862.579
6,005,599
5.838.757
2.366,495
Holyoke
2,621,055;
Chicago
England
851,490,919;
1,145,087.608!
..;
Cincinnati
Cleveland
Detroit
Milwaukee
106,265,4001
83,552.844;
77.847,013!
57.769.3S4
38,050,0701
25,500.000
20,123,979;
14,932,716
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids
;
12.148.715
9,164,1351
Dayton
Evansville
Kalamazoo
9,975,5491
Springfield, III
Fort Wayne
4.200.000
4,417,167i
4,169,468;
4,287,968
4.070,959:
3,426,113
4,308,092
2,675,000;
5,795,186!
Akron
Lexington
Youngstown
Rockford
Canton
Quincy.
Springfield. O
2,251,484;
South Bend..
2,440,071
2,457,7881
1,725.217:
Bloomington
Mansfield
Decatur
Jackson
Danville.
1,736,074!
1,774,000;
1,731,5581
1,050,079
1,594,004
Jacksonville, Ill
Lima
Ann Arbor
Adrian
847.976;
Lansing
Tot. Mid. Western.
San Francisco
203,594,361;
I.os Angeles
Seattle
Portland
72,746,198
48,106,114!
Spokane
45,076,552;
_!
20.599,979
30,642,492!
18,452,6951
13,404,039!
4,348,560;
<
Sacramento
San Diego
7,291,917!
5,628,656
4,117,544;
3,335,9501
2,587,358!
Fresno
Stockton
San Jose
North Yakima
2.577.751;
714,070
3,145,974
3.S66.645
Billings
Pasadena *
Boise
Medford
Total
1
Kansas
City
Minneapolis
Omaha
St. Paul.
Denver
Duluth *
St. Joseph
Des Moines
Sioux City
Wichita
.
+ 1.0
+ 2.6
—4.0
+ 7.3;
+ 22.7
+ 7.9;
—1.8
—12.1!
763,042,577
—3.6
42,395,300
15,838,833
11,809,190
9,829,964
8,509,596
7.805,273
—4.0
7,662,370
6,001,807
2,158,299
2.469,238
877.522,447
1.162,800.081
113,401,200
82,469.524
71,104,813
56,51S,51S
38,391,049
25,911,500
17,338,644
13,579,869
11,617,774
8,198,916
9,464,225
6,369,528
4,085,737
4,072,432
3,928,250
3,832,200
4,562,310
3,054,745
3,919,933
2,647,286
1,983,622
2,164.867
2,220,058
1,612.072
1,604,631
1,519,990
1,902,084"
1.169,482
1,437,894
988,289
128,925
2,649,242
—3.0
—1.5
—6.3
+ 1.3
+ 9.5
+ 2.2
—0.9
—1.6
+ 16.1
+ 10.0
+ 4.6
+ 11.8
+ 5.4
—9.0
+ 2.8
+ 8.5
+ 6.1
+ 11.9
—10.8
+ 12.2
+ 9.9
+ 1.1
+ 13.5
+ 12.8
+ 10.7
+ 7.0
+ 8.2
+ 16.7
—9.0
—10.2
+ 10.9
—14.3
187,562.499
62,070,245
57,917,106
38,403,584
21,025,894
,.33.282,750
25,728,733
8,413,377
4,636,390
5,969,757
4,288,281
3.373.285
3,954,269
2,836,214
1,916,567
1,334,614
2,500,000
3,868,925
+ S.5
+ 17.2
—16.9
+ 17.4
—2.0
—7.9
—28.2
+ 59.3
—4.1
+ 22.1
+ 31.4
+ 22.1
—15.7
—8.8
+ 34.5
—46.5
+ 25.8
—0.1
in total
1908.
1907.
S
%
S
S
%
8
S
93,681,999,516
6,274,892,610
2,127,472,450
1,324.116,886
425,034,260
266,332,856
803,257,880
181,233,342
116,523,438
99,545,185
63,940,763
64.1S3.059
64,701,124
59,943,351
82,524,083
76,229,874
72,281,794!
70,724,127
59,576,118
58,820,579
44,901,738!
40,469,515
39,892,948
33,406,021
26,464,889
25,331,591
26,644,163!
22.824.943
22,852,093
21,332,100
21.493.711
18,905,678
12,050,325
12.304,603
11,943.212
12,054.097
102,245,792,898 105,383.884,1941
7,588,289,600
7,668,486,9421
378,071,100
358,808,400
197,732,124!
165,711,117
130,939,386!
123.014.848
104,374,325!
97.802.943
93,598,547;
82,719,274
107,740.808
78,439,783
53,617,046;
56,267,426
51,464,305
46,825,640
23,390,865
22.312,405
26,475,999|
24,282,940
8,755,694,105j 8,727,621,718
12,738,217.8201 12,556,901.970
1,138,028.500!
1,224,567.400
915,587,958;
793,613,835
848.243,271;
697,022,230
596,902,860!
548.084,368
426,801,789
380,041,073
282,085,800
276,241,900
197,893,576
188.558,479
143,274,722
132,639,252
126,418.832
103,607,120
104.08S.512
63,912,174
47,982,052
47,942,347
44,984,268
39,178,978
52,222,077
37,484,550
46,369,535
29,911,655
25,803,913
25,369,647
29,394,523
19.308,423
22,506,231
20.1S5.1S6
21,282,693
14,225,123
16,154,702
8 780,254
1,646,031
28,377.031
8,142.929
112,497,375
89,410,663
94,969,325
58,174,982
46,394,129
43,399,149
35,434,406
32,081,986
43,161,555
31,753,693
34,797,364
26,446.747
23,393,307
22,606,155
24,524,011
17,006,325
19.989,490
16,440,837
17.682,888
13,482,216
14,656,947
9,033,397
1,277,486
25,285,874
Not Included
18,264,172,153
17,651,570.814
2,120,878,914
736.921.15S
538,828,29
472,317,582
220,683,226
294,727,311
256.894,063
142.039,849
1,786,248,402
607,701,954
531,392,318
353,386,611
184,546,513
304,406,162
255,065,196
87,170,782
43,331,743
49,038,239
47,548,170
25,900,627
26,328.063
22,964,882
17,436,118
9,8 19,489
11,943,476
32,278,260
42,631,374
62,915,527
61,535,793
34,389,045
29,236,6S9
25,725,138
22,469,759
7,909,1.34
37,108,140
38,428,626
Not included
—4.7
+ 11.9
+ 11.2
+ 11.2
+ 8.5
+ 4.7
+ 9.4
+ 6.0
+ 7.7
+ 13.0
+ 5.5
+ 11.8
+ 7.9
+ 8.3
+ 2.2
+ 1.3
+ 10.9
+ 19.4
+ 4.5
+ 16.7
+ 7.1
+ 13.7
—2.1
1,547.838,251 1,879,491,105 —17.7 1,689,119,221 1,054,949,502
129,776,388
117,879,256
98,674,709
130,869,828
+ 0.8
—6.2
44,297,340
47,233,486
36,309,347
45,289,331
+ 0.4
28,696,291
28,577,092
23,305,741
21,589,580
—1.7
8,726,215
7,146,078
8,873,329
5,972,998
—2.5
5,296,120
5,430,947
5,800,936
4,249,096
—3.1
6,373,144
6,580,543
5,119,278
3,826,176
—2.6
3,206,330
3,123,147
2,638,281
2,452,177
2,429,055
2,215,929
+ 9.7
2,329,507
1,992,106
—S.l
1,864,362
2,028,176
1,503,875
1,667,855
—8.9
1,449,609
1,590,824
1,217,213
1.043,950
1,318,473
1,116,810 + 18.1
1,074,259
1,013,582
1,228,643
+ 0.3
1,224,707
1,141,705
951,659
1.469,184
1,451,875
+ 1.2
1,311,002
1,169,422
1,491,370
1,305,615 + 14.2
405,403
1,053,215
1,249,900 —15.7
887,901
1,023,610
807,688
+0.7
802,474
711,259
545,830
715,217
665,951
+ 7.5
565,172
578,896
342,973
396,402 —14.2
380.414
409,124
520,015
427,664 + 21.8
425,207
439,474
557,500
379,300
321,500 + 73.4
336,500
404.776
—3.7
420.500
362.726
372,577
231,000
220.000
+ 5.0
175,088
166,635
■
i
—0.9
—3.0
1,791,103,416 2,124,607.547
135,073,301
,144,870,738
—1.0
+ 5.4
+ 19.3
+ 3.9
+ 6.7
+ 13.2
7,606,900
3,449,270
2,164,229
1,759,211
1,877,066
2,150,710
1,333,123
987,574
499,142
509,470
7,905,600
3,489,211
2,147,031
2,000.000
1,622,329
1,482,811
1,119.022
1,133,637
409,060
475,859
+ 0.3
157,409,996
+ 1.5
—7.0
+ 15.4
+ 21.7
+ 8.9
+ 12.3
+ 2.1
+ 5.0
+ 7.3
+ 12.4
+ 15.9
+ 9.6
+ 9.9
+ 3.4
+ 10.5
+ 27.0
+ 22.1
+ 21.0
+ 18.0
+ 33,6
+ 13.1
+ 10.3
+ 12.2
+ 19.9
+ 13.5
+ 12.6
+ 22.8
+ 20.4
+ 5.5
+ 10.2
—2.8
+ 28 t*
+ 12.2
229,096,794
22,317,600
16,240.066
16,304,759
11,150,000
8,407.958
5,284.200
3,658,662
3,193,353
2.234,351
1,651,481
1,972,000
1,075,164
758,529
815,436
803,000
845,893
782,428
886,811
915,812
533,115
487,515
421,131
542,607
326,399
356,607
334,881
376,205
192,846
280,325
131,284
38,274
499,815
166.675,298
238,247,643
23,279,250
15,074,675
14,050,000
11,119,869
7,186,292
5,367,000
3,138,812
2,616,546
2,010,684
1,484,090
1,775,580
1,182,746
751,615
804,385
797,700
+37.4
—4.7
+ 9.9
+ 4.8
+ 9.3
in total
Hastings
Aberdeen
611,965,155
page 1490
Not Included
Not Included
631,433,178
16,499,282
Not Included
Not Included
974,705,902
896,882,534
13,595.250,2.37 14.786.082,070
5,780,965,151 5,722,505,417
306,620,531
232,505,796
33,960,154
9,986,736
7,942,486
4,927.052
3,085,424
6,196,052
3,989,130
22,763,668
6,136,283
6,064,393
3.354,419
2,061,701
2,871,666
3,900,000
944,291
823,680
874,038
619,762
498,226
528,807
354,956
328,941
500,000
j 101,366,872
92,166,816
45,989,356
21,636,880
13,623,576
10,367,864
9,606,267
4.324,243
5,395,162
3,200,000
2,273,732
2,969,011
1.404,177
1.275,711
1,462,236
1,200,000
44,365.691
24,430,433
—1.6
+ 28.3 !
+ 29.9 !
+ 32.8
+ 11.0
+ 12.0
+ 28.9
—
+
19.7
19'l
in total
+i3'.i
+ 12.1
+ 10.1
+ 23.7
—2.5
+ 9.0
+ 19.8
+ 20.0
+ 13.5
+ 45.2
+ 5.1
+ 5.9
+ 0.8
in total
in total
j
!
1
675.708
950,000
•
13,129,101
13,337,118
10,073,352
5,595,121
5,038,025
2,941,214
2,501,254
2,437,992
1,215,542
1,243,609
1,262,215
1,104,322
930,609
740,000
629,343
842,464
217,862
Not included
127,909,377
198,255,712
Page 1490.
11,683,410
7,110,331
4,091,346
6,926,391
5,304,729
1,939,196
851,843
1,062,725
602,547
748,496
204,411
160,783 Not Included
+ 11.3
on
12,841,325
1,189,092
1,130,757
804,030
700,700
499,091
646,349
415,296
269,550
236,124
600,000
400,000
+ 10 0
74,878,023
49,920.101
+ 3.7
—11.4
+ 3.8
—22.3
—4.6
—22.7
+ 7.1
+ 8.8
37,291,432
21,754,302
11,391,624
23,760,264
20,425,472
8.000,414
10,032,3'>8
8,062,106
j
+ 11.8
Clearings by Telegraph and Canadian Clearings
in total
+ 15.5
+ 19.4
—17.4
+ 35.7
+ 5.4
+ 0.3
—30.0
+ 38.4
+ 11.2
+ 39.4
+ 34.0
§ + 26.1
+ 27.1
—32.7
+ 40.3
—48.3
+ 20.0
5,745,526,924
6,423,414.926
166,271
250,000
111,402
15,000
36,651,290
8,074,089,892
+ 8.7
8,985,816,511
—8.1 149,789.422,078 149,970,487,071
+ 1.0 60,539,726,873 56,288.487,555
—3.1
n see
914,827
1,586,631
605,214
530,966
500,328
300,000
512,882
584,313
633,011
413,608
510,969
314,874
272,999
312.758
149,578
203,721
219,490
42,340,016
15,328,820
9,645,427
9,652,375
4,314,550
6,944,115
3,713,405
2.6S4.401
946,291
1,481,154
1,172,270
781,376
633,193
461,861
497.618
170,000
600,000
+ 10.5
+ 13.8
+ 13.9 |
+ 11.5 I
+ 6.1
—11.2
in total
In total
117.709
26,948
498,877
1,586,049
+ 8.7 1
+ 21.3 i
+ 1.4 I
+ 33.6
+ 19.6
—3.2
+ 0.7
+ 62.9
2,172,339,678
923,052,784
673,689,590
469,789,924
425,038,165
134,521,254
281,726,164
169,753,311
126,148,411
117,390,519
63,023,646
68,719,575
60,732,102
50,396,583
35,598,038
32,197,710
32,391,241
27,040,201
+ 29.7
+ 6.0
+ 4.8
324,537
258,500
449,244
271,382
277,005
•
4,195,000
2,486.182
1,521,810
—0.9
2,401,582,058
1,050,616,729
767.309,984
523.S67.898
450,864,744
175,984,420
318,694,541
190,265,947
138,886,410
145,284,438
61,462,603
74,921.238
72,729,709
60,484,988
40,389,096
46.746,284
.34,048,120
28.629,788
16,630,351
8,081,122
5,490.000
3,017,365
3,456,854
1,139.553
844,431
485,077
423,342
350,559
429,240
302,512
113,426,663
161,098,758
17,421,900
12.140.036
10,381,269
8.077.281
4,497,669
336,070,119
+0.9
—15.2
+ 4.8
..
670,000
158,484,130
219,133,190
23,736,550
12,147,022
11.238,572
9,946,250
6,700,778
4,690,200
2,809,407
2,757,833
1,748.066
1,280,221
1,689,123
941,876
805,000
710,628
515,000
614,177
978,964
627,428
527,055
392,424
338,662
336,510
358,756
244,844
311,458
235,000
257,769
193,665
224,327
113,229
16,547
332,913,281
225,783,046
127,382,439
63,187.234
58,893,303
44,837,039
31,155,632
27,511,898
16,835,477
12,032,185
13,632,181
6.424.285
6,420,834
5,892,664
5,697,676
5.310.772
4.162.773
2,847,330
3,299,851
1,282.158
+ 2.4
—4.7
—5.8
+ 7.5
—6.3
+ 1.9
+ 17.4
+ 4.5
—24.8
—5.6
—3.8
—4.1
+ 7.7
+ 15.0
+ 0.3
+ 17.0
—1.6
+ 16.6
+ 22.1
+ 11.1
+ 11.2
+ 11.1
—9.0
+ 0.9
+ 1.4
+0.7
+ 0.8
+ 9.4
+ 19.2
+ 36.6
+ 9.9
+ 15.1
+ 20.1
+ 26.4
+ 7.9
+ 9.9
+ 29.4
—16.3
—29.0
+ 1.2
+ 11.5
+ 34.6
+0 2
j
227,733.134
108,000,000
66,192,950
54,036,276
43,273,673
21,500,000
28,267,645
18,043,758
—8.2
—3.5
—31.0
—15.7 1,901,290,929 1.248,611.959
—6.8
138,494,251
97.436,826
—3.8
6,971,400
4,938,600
—1.1
2,947,586
3.084,680
+ 0.8
2,009,803
1,841,098
—12.0
1,609,067
1,325,000
+ 15.7
1,791,072
1,514,130
•+45.1
1,901,694
1,121,849
+ 18.2
1,172,161
767,814
—12.9
822,403
576,408
+ 22.1
372,094
420,651
+ 2.7
392,599
399,607
838,966
715,665
743,691
Not included
+ 3.5
+ 16.5
Fargo
Inc. or
Dec.
4,384.793,529
Lincoln
Outside New York
+ 8.0
+ 1.6
—1.0
+ 9.7
+ 26.4
—21.6
—2.7
+ 9.6
+ 6.2
278,799,707
331,881,753
192,051,897;
125,490,325!
112.4SS,14R j
73,793,192
71.752,239!
1909.
5,108,531,485
6,021,216
6,539,527
6,919,305
5,952,505
3,991,642
Total other West..
For details of Souther
Total Southern
Total all
—12.1
1,472,994,049
461,002,374
1910.
+ 4.4
Davenport
Fable
—7.0
+ 4.2
—3.5
—4.6
—9.3
—10.5
89,249,695,205
7,024,320,446
2,366,197,355
1909.
466,582,046
Cedar Ranlds
Sioux Falls
Colorado Springs
Pueblo
Fremont
S
Week ending November 26.
Inc. or
Dec.
487,090,881
11,330,029
14,649,693
Topeka...
%
—3.8
1,246,617
Not Included
Pacific,.
1910.
142,085
+ 10.2
2,583,397
—2.5
1,712,400 Not included in total
1,658,101,0971 1,666,649,690
—0-5j
Saginaw
Salt Lake City
Tacoma
Oakland
Helena
Inc. or
Dec.
—13.8
+ 2.7
—4.6
+ 6.2
+ 0.1
—4.9
+ 5.2
+ 1.4
—2.1
9,011,905,383110,247.012.075i
Boston
Total New
1909.
7.814.304,086
643,490,776
205,237,012
149,749,425
43,432,189
26,491,389
32,493,853
17,842,376
11,162,454
Philadelphia
Published every Saturday morning by WILLIAM B. DANA COMPANY.
Jacob Seibert Jr., President and Treas.; George S. Dana and Arnold G. Dana,
Vice-Presidents; Arnold G. Dana, Sec.
Addresses of all, Office of the Company.
NO. 2371
—
).l
+ 21.8
+ 15.5
+ 2.6
+ 15.8
+ 8.7
—27.4
+ 28.4
—4.3
—11.2
—6.2
t ta1
in total
n
132.035.267
—3.1
172,506,430
—0.1 2.708.958.654 3,024,061,477
+7.61 1.161,120,403 1,144,670,372
+ 14.9
9,531,967
8,487,955
3,972,040
2,319,322
2,218,623
1,446,16.'
977,30(
894,74'
790,467
660,311
735,82'
580,001
2,566,742
3,489,899
259,23^
1,411,614
868,974
688,296
1,186,387
610,645
480,530
485,242
450,000
600,000
610,961
157,012
104.340.442
83,880,916
572,90t
557,21?
152.988.786
126.405,284
—10,4 2.698,603.841 1,854,887.993
+ 1.5 1,009.484.62J 799,938,491
* Not Included for month and eleven months; comparison Incomplete.
THE CHRONICLE
1474
given tremendous importance through the
LXXXXI.
enormous
THE FINANCIAL SITUATION.
increase made in the rates of these inheritance taxes.
depression in our stock market being accen¬
by the new Inheritance Tax Law of this State
passed at the special session of the Legislature last
July? The question appears a pertinent one in view
of the repellant effect upon foreign capital which this
new statute is
beginning to exert. As knowledge of
its provisions and its graded rates of taxes gains cur¬
rency abroad, European investors in the stocks of
railroads and other corporations organized under the
laws of this State are beginning to manifest much
concern.
Banking houses here with influential for¬
eign connections are authority for the statement that
some large holders of such stocks have recently dis¬
posed of their holdings in this market in order to avoid
the risk of the high transfer taxes imposed, while still
other holders will no doubt also be prompted to part
with their holdings if the law in its present form is
Formerly the tax was only 1% in the case of direct
heirs, and as this was not an oppressive rate, foreign
purchasers were willing to risk the chance of death
Is the
tuated
allowed to remain
on
the statute books.
The
primary purpose of the new law, which has in¬
creased the legacy tax on taxable transfers fivefold,
was of course to obtain additional revenue for the State;
and the framers of the statute
seem
to have
thought
that the easiest and least vexatious way
this added revenue was by marking up the
of getting
legacy tax
and increasing the rate of the levy as the size of the
legacy or bequest expands. But, as often happens
in the matter of experiments in legislation, the new
Act is having remote effects .not anticipated by its
advocates and promoters.
It is driving capital away
from the State and must continue to do this in increas¬
ing degree
as
its provisions become known to foreign
investors.
To those not versed in the matter it may seem a
mystery why a change in our Inheritance Tax Law
should in any way affect purchases of stocks here
or be disturbing to foreign holders of the same.
Re¬
siding abroad, why should their holdings be taxed in
this State in the event of death?
*
[VOL.
The
is, as
explained in articles in our issues of July 30 and Sep¬
tember 3, that the State levies its toll both upon the
property of residents and of non-residents, and it has
a means of reaching these non-residents
through the
fact that the companies issuing the shares have been
organized in this State, and hence are under control
of the State.
The tax is upon all property, real or
personal, and the non-resident shareholder is obliged
to pay the tax because the tax is upon the transfer
(of the shares) and not upon the property itself (al¬
though the amount of the tax is necessarily measured
by the value of the property transferred), and the
courts have decided that the State may impose conditions attending succession in bodies of its own creation.
The decedent
owner
reason
of stock in such instances is
re¬
holding stock in a domestic corporation,
capital stock in a domestic cor¬
poration, although held by a non-resident, will be
regarded as having its situs where the corporation
was
organized. It follows that residents of other
States, and also residents abroad, holding stock in
New York corporations, in the event of death make
their estates subject to the Inheritance Tax.
There is nothing new in this aspect of the
matter,
for foreign holders of shares in New York corporations
have long been subject to the Inheritance Transfer
Tax of New York; but the matter has suddenly been
garded
as
and it is settled that
and the payment
heirs and others,
of the tax. In the case of collateral
the old rate was 5%, and this con¬
stituted the extreme amount of tax that could be im¬
posed in any event. Under the new law, however,
a graded rate of tax is
imposed, the rate rising as the
size of the bequest increases; so that even in the case of
direct heirs 5% has to be paid on amounts above
$1,000,000, whereas in the case of collateral heirs the
payment required on amounts above $1,000,000 is as
much as 25%.
In other words, in this last instance,
the State takes one-quarter of the whole amount of
the stock passing by transfer.
Bearing in mind that
the rule
to collateral heirs would
apply in the case
nephews and nieces, it can readily be seen what
a burden the new law
imposes and how reluctant for¬
eign investors must be to make themselves subject to it.
Many German and English investors and capitalists
hold large amounts of stock in New York corporations,
and these are now confronted with the possibility that
their estates may be mulcted in amount of 25% in the
contingency of their death. Some of these holdings
by individuals run up into the millions, but even
where the amount passing under any one bequest
falls below a million dollars, the rate of taxation is
Upon amounts in excess of $25,000 up
very heavy.
to and including $100,000 (disregarding the small sums
exempted) 10% is exacted in the case of collateral
heirs; Ppon amounts running from $100,000 to $500,000, 15%, and upon amounts1 between $500,000
and $1,000,000, 20%.
The new law is a harsh one in any ( vent, and the
coming Legislature should amend or repeal it. There
is no element of justice in taking 25% of what is left
to an individual, and in addition the law involves an
economic blunder.
Everything ought to be done
to invite and attract capital from all sources and from
all parts of the habitable globe.
Instead of this the
new law, by its operation, works to keep capital away.
Capital should be made to feel that New York State is
a safe harbor for it.
By the new legacy transfer tax
we are giving notice to the whole world that such
capital is to be heavily assessed here in the event of the
even
as
of
death of the
It
owner.
seems
to us
the heads of
our
leading financial institutions, who have been made
to feel how7 adverse to the best interests of the State
this
new7
statute is
working, ought to confer together
with the view7 to
taking concerted steps to secure the
repeal or modification of the* law by the incoming
Legislature. If this is not done, foreign capital will
taboo the United States, or else it will seek investment
in the shares of corporations organized in other States,
thus isolating New York.
There is all the more reason for requesting the
repeal of the law inasmuch as it wras passed very
hastily, without due consideration, and it is evident
that the average legislator can have had little idea as
to what it involved.
We cannot believe that it will be
the
policy of the State to retain this new statute
that realization has come of its meaning.
Nero fiddled w7hile Rome
ties at
Washington
are
now
burning. The authori¬
assuming a similar attitude
Avas
Dec. 3
1910.]
THE CHRONICLE
1475
railroad-carrying industry in the present within State boundaries and it is an act of usurpation
hour of its great need.
In the hearings regarding the for the Federal Government to attempt to exercise
proposed advances .in railroad rates, the Inter-State jurisdiction over them at all, it is hard for those iden¬
Commerce Commission is dawdling away its time, lis¬ tified with such corporations to become reconciled to
tening to fool suggestions that some magical way can the idea that the seal regarding their private affairs
be found of saving $300,000,000 a year.
While this is is to be removed and a way opened through which
going on, the urgency, and indeed the extremity, of rivals may possibly gain a knowledge of their business
the situation in which the railroads find themselves is secrets.
Besides, the validity of this tax is being con¬
being illustrated in the returns of net earnings which tested before the U. S. Supreme Court, and the great
have come to hand the present week for the month majority of people think that this tax provision will be
of October.
It is evident enough that the purpose of declared unconstitutional.
Under these circumstances
the shippers is to secure delay.
But in the meantime it is difficult to divine the President's motive in stirring
the comparisons of earnings are getting poorer with things up anew at this juncture instead of waiting
each succeeding month.
A few figures for October until the Supreme Court hands down its judgment
will suffice to indicate the prevailing trend.
The on the measure.
As for the action against the American Sugar Re¬
Pennsylvania RR., as we show in a paragraph towards
the end of this article, on the lines directly operated fining Co., that concern has scarcely more friends
cast and west of Pittsburgh sustained a decrease of than the Standard Oil Co.
Anxiety is keen never¬
$76,400 in gross earnings, while at the same time theless, as, this new move once more brings up the
expenses mounted up in the sum of $1,062,400, pro¬ question of the operation and scope of the Anti-Trust
ducing, hence, a loss in net for this single month in Law. We think that James M. Beck, counsel for the
amount of $1,138,800.
The New York Central System American Sugar Refining Co., is correct when he says:
managed to add $966,674 to its gross earnings, but as “It is unfortunate that business men cannot conduct
this was attended by an augmentation of $1,750,488 in a legitimate business enterprise without subjecting
expenses, net actually fell behind in the sum of themselves to proceedings under a highly technical
$783,814. The Reading Co. has had a similar experi¬ statute, about the meaning of which the courts do
ence, or rather has had a small loss in receipts coinci¬ not agree, and about the wisdom of which most thought¬
dent with a rise in expenses, with the result that net ful men of all classes are in serious doubt."
for October this year was only $1,453,399, against
Mr. James J. Hill lias been criticized for having$1,705,227 in October last year. The Coal & Iron Co.
also did poorly, and consequently the net for all the stated in an interview published in the New York
Reading companies combined stands for this year “Times" on Monday of this week that there was likeli¬
only $1,638,134, against $2,102,211 in October last hood of much - idleness next year. His utterances
year.
The Union Pacific for the same month added a have been characterized as pessimistic. But Mr. Hill
trifle to its gross revenue, namely $15,275, but expenses is no pessimist.
He has been all his life the most
and taxes moved up no less than $732,718, leaving buoyant of optimists.
If he were not possessed of a
a
loss in not of $717,442.
most
The Southern Pacific
sanguine temperament and had not the utmost
suffered a decrease in gross of $175,744, while expenses faith in himself and his cone try, he could, never have
increased $545,988, involving, accordingly, a diminu¬ carried through the construction of thousands of miles
tion of $721,733 in net. The Milwaukee^ Sc. Paul, of railroad in the undeveloped sections of the United
chiefly by reason of the rise in expenses, falls $551,120 States, gaining thereby the name of Empire Builder.
behind in net. The Louisville
Nashville, though On the present occasion Mr. Hill finds it impossible
having added $216,274 to gross, loses $364,.278 in net, to give expression to the customary optimistic senti¬
and the Rock Island Lines, while having increased ment because the facts are not roseate, and caution is
the gross $212,621, suffer a decrease of $299,730 suggested on every side.
He points out that neither
in net.
the railroads nor other industrial undertakings are
contemplating improvements or extensions at this
As a result of these unfavorable statements of earn¬ time, and gives his reason in these words:
“It isn’t
ings and the action of the Federal Government in because they haven’t the money, but because there
announcing a scheme of publicity for the reports which are no inducements, considering public sentiment
private corporations have been obliged to render to the and business outlook, for them to invest it."
authorities at Washington, and the further action of
That is the literal truth.
It is public sentiment
the Administration in beginning a suit under the antagonistic to business enterprises that is putting an
Sherman Anti-Trust Law against the American Sugar embargo upon trade activity. And in view of the
Refining Co. and allied corporations, a serious break in losses in net income which the railroads, according to
prices on the Stock Exchange has occurred the present their returns, are now sustaining all over the country,
week.
These acts have served to can it be seriously argued that Mr. Hill is in error in
And no wonder.
open up old sores and to cause renewed apprehensions what he says?
Is it not indeed certain that industry
continue
to
must
concerning matters which have been a source of anxiety
drag and lag until the railroads are
in the business world for a long time.
Everyone has again offered inducements for going on with new de¬
been trying most industriously to forget them.
The velopment work, thereby stimulating activity once
authorities at Washington, apparently unmindful of more in other lines of industry and in general trade? *
the teachings of the election, have taken pains to With bounteous harvests, such as we have
enjoyed
the
bring them prominently into view again.
present year, a new era of prosperity would be
The Corporation Tax returns are to be given out inevitable except for the pernicious
activity of the
only under certain restrictions, but as tens of thousands politicians.
of these are strictly private concerns, operating entirely
towards the
1476
The most
THE CHRONICLE
significant
of the money
markets of the world this week was the lowering of the
Bank of England rate from 5% to 4%%. December
more often witnesses increasing tightness
in money
both in Europe and in America than weakness, and it
has happened on only rare occasions that the London
Bank Governors have reduced their minimum charge
for accepting bills in the final month of the year; in¬
deed, previous to last year, when there was a change
from 5% to 4%% on Dec. 9, a reduction at this season
has been made only once in about two decades.
Neither London nor New York had expected any
change this week, although the downward movement in
private discounts as well as the diminution in the gold
outflow from England had foreshadowed a lower Bank
rate in the not distant future.
The 5% charge has
proved very effective. When it was declared, on
Oct. 20, the Bank of England was losing specie. The
ratio of reserves to liabilities fell from above 53% in
the middle of September to 47% at the opening of
October, and even in the final week of October, after
the advance had been made, there was a fall in the
percentage from 46% to 46%. The amount of coin
occurrence
in
any
and bullion carried at the close of the fourth week in
October
to
San
[VOL.
LXXXXI.
Francisco
(for the moving of the fruit
crops) amd of $300,000 to New Orleans, made no
impression upon the available supplies. As a mat¬
ter of fact, the tendency throughout the week has
been
towards
lower quotations alike for collateral
loans and commercial discounts. Call money, even
on the first
day of the month, ruled at only 2%%,
time money could not be placed in quantity at 4%,
and prime mercantile bills were negotiated at a
minimum of 4%%.
The excess of bank loans over
deposits has been diminishing of late, so that from
every point of view the monetary situation is more
satisfactory than could have been foreseen a month
or six weeks
ago.
So far the effect of all this upon the
demand for investments has been somewhat
disap¬
pointing, yet underwriters believe that a broader
market will develop when investors receive their
January checks, seeing that bonds afford a higher
return than is obtainable by simply
lending funds on
the Stock Exchange.
Kaleidoscopic changes are occurring with startling
rapidity in British politics. Lord Lansdownc’s pro¬
posals for reforming the House of Lords, including the
election of certain representatives in lieu of a Chamber
filled by hereditary noblemen, has been followed by
the wholly unexpected pronouncement of Arthur J.
Balfour, leader of the Unionists, in favor of submitting
the question of tariff reform directly to the people by
means of the referendum, a
political device which has
gained considerable favor in our own more radical
only $ 156,590,000, but since then im¬
provement has been recorded each successive week,
until on Thursday last the Bank held S178,155,000, a
gain of $21,565,000. The ratio to liabilities, however,
has receded during the last fortnight from 52%% to
50%%, but is nearly 3%% above the corresponding
average of the last ten. years.
No doubt the decision
to name a 4%% minimum was brought about chiefly States of the West, but heretofore not advocated in
by the marked easiness in private discounts, the cessa¬ staid Great Britain, although Lord Salisbury, aristo¬
tion of gold exports on a scale in excess of receipts, crat and Conservative, was known to have leanings
dulness in Stock Exchange operations, and perhaps toward it as a court of final appeal.
Mr. Balfour’s
the natural desire of the influential business represen¬ amazing change of front astounded the Liberals, rallied
tatives who rule the Bank to facilitate, by every possible the Unionists and cheered the security markets.
He
means the conduct of the holiday trade at a time
at the same time challenged his opponents to show
when it is liable to be interfered with by the acrimoni¬ similar courage by laying their Home Rule
proposals
ous
political contest now being fought out at the before the electorate for a clear-cut expression of ap¬
polls. The cables state that the reduction “was only proval or disapproval. “Some people seem to think,”
decided upon after a prolonged discussion,” and that lie declared, “that asking whether I would submit
there was a disposition among bankers to criticise the tariff reform to a referendum would put me in a hole.
action taken as premature.
As, however, there was I frankly say that tariff reform would be a great
an immediate decline in private discounts to as low
change. This election cannot be described as tak¬
as
3%%, the institution is unlikely to suffer an ing place on tariff reform simply, and I have not the
undue local drain upon its resources between now and least
objection to submitting tariff reform to a refer¬
the opening of January, especially as the various inter¬ endum.
It seems to me that our opponents should
national exchanges are not unfavorable to Lon¬
respond with the generosity of honorable combatants
don
and say, ‘We agree that Hume Rule shall be subject to
a referendum, too.’ ”
ike Libera!.? ere proclaiming
The year promises to end without monetary string¬ that the referendum is a rase
designed “lo put a more
ency at any of the other large financial centres. effective weapon in the hands of the wealthy classes,”'
Paris is on a 2%% basis despite shipments of gold from to quote the words of Chancellor
Lloyd-George.
that city.
The most vehement .opposition to Home Rule has
Berlin was slightly influenced this week by
the closing of a small bank (the Vereinsbank) at burst forth in
Ulster, and various other parts of Ire¬
Frankfort-on-the-Oder and by the Dec. 1st settle¬ land, where
money has actually boon raised to resist by
ments, which entailed a total cash loss on tine part of force of arms “taxation from Dublin.” The Irish
the Reichsbank of $17,616,090 and expansion in lia¬ Unionists sent a
message to Mr. Balfour containing
bilities, but bills can be negotiated there at to of 1% the following sentence: “In all solemnity we now de¬
below the official minimum, and there is no reason to clare tiiat Home Rule will
bring Ireland not peace
apprehend Complications at the turn of the year. but the sword.” The Conse rvatives have made much
Minor centres, with the exception of Vienna, are of the uart olaved by “American gold” in
influencing
well situated.
At home money has become super¬ the
struggle in Ireland. Throughout England and
abundant both on demand and for all maturities
up Scotland, however, the campaign has engendered less
to six months.
Shipments of $2,000,000 gold coin to heat'. We devote a special article to the general is¬
Canada, the transfer of almost as' large an amount sues of the election.
.
was
Dhc. 3 1910.]
THE CHRONICLE
Yesterday 11 Unionists and 4 Radicals were re¬
turned unopposed.
To-day about 100 members,
including 60 Unionists, will be elected without
contest, and polling will take place in at least 45
constituencies, fully half of which are now represented by Liberals.
A fortnight from to-day the last
of the voting, it is expected, will be recorded.
King
George, in dissolving Parliament on Monday, sum¬
1477
The
eighth inauguration of Porfirio Diaz as President
Republic of Mexico, on Thursday, was not
blessed with peace throughout the country, as on
previous occasions. The attempted revolution headed
by Francisco I. Madcro, although successfully checked
by the Government troops last week, has apparently
not yet been entirely abandoned.
The insurrectionists
managed to stop traffic on the Mexico & Northwestern
moned the new Parliament to meet on Jan 31 1911.
RR., in the State of Chihuahua, where severe fighting
took place at the beginning of this week.
A band of
Secretary of the Treasury MacVeagh is seriously 400 attacked a
larger body of loyal troops, and after
considering the advisability of fixing the interest rate a
vigorous encounter the “insurrectors” were forced
on
the next issue of Panama bonds sufficiently
to flee to the hills, leaving seven dead.
In other parts
high to insure their absorption strictly as an invest¬ of the
Republic tranquillity has been restored, save
ment, the circulation privilege being omitted. This
that handfuls of rebels here and there have not yet
proposed change, somewhat radical in its nature has- surrendered. There can be no
doubt, however, that
been inspired by various developments,
including the Government has the whole position well under
the fall in price of the principal government bonds at
control and that the Madero marauders will shortly
home and abroad, the danger of inflating bank-note
be brought under complete subjection.
circulation here, the desirability of finding a wider
The inauguration ceremonies afforded the United
market for our Federal securities, and, looking ahead,
States and other nations a happy opportunity to
the possible reform of our whole bond-secured
currency
emphasize their good will towards President Diaz,
system. Power rests with the Secretary of the Treas¬
whose reputation as a statesman has not been seri¬
ury to name what rate the $290,569,000 bonds
ously injured by the abortive uprising of malcontents.
authorized in August of last year to cover the building
As dean of the diplomatic corps, the American Ambas¬
of the Panama Canal shall carry, the maximum, how¬
sador, Henry Lane Wilson, offered the congratulations
ever, having been restricted to 3%.
With a view to of the
foreign representatives in Mexico. The ambas¬
ascertaining the market value of European Govern¬ sador
spoke in warm terms of the patriotic labors
ment bonds, which are not, of course, inflated
by the of President Diaz
during more than a quarter of &
circulation privileges attaching to United States issues,
century—labors that had won the respect and confi¬
comprehensive data have been gathered by the dence of the
whole world.
“The marvelous develop¬
Treasury Department, a summary of which was ment of
Mexico,” he proceeded, “during the successive
published this week.- On the present market values administrations to
which Your Excellency has been
the highest credit abroad, it is shown, is
enjoyed by called by the
suffrages of your fellow-citizens, the
France; the income yield, or what is termed the moral and
material progress which has been
achieved,
“real interest earned at the present market
price,” on the firm
position of the public credit, and the faith felt
the 3% rentes is 3.06%.
This compares with 3.16%
by
nations
the
and the rulers of the world in the
on British
Consols, 3.61% on Germany's Imperial 3s
stability and responsibility of this Government, are
and 3.S4% on the German 3)4% loan.
As a com¬ matters of common
history, which, however well
mentary upon the political trend in Great Britain, it is
known, may be repeated with profit on an occasion like
a fact of interest that the
average yield on Consols
this, so profoundly significant of the future of the
during the last calendar year (1909) was only 2.9S%; on
Republic.” He expressed the hope that the President
the French Rente in that year it was 3.09%.
Com¬
might be spared many years of usefulness to devote
parison with the yield at this time shows that Britain's
to the progress and
happiness of the Mexican people,
credit has deteriorated, whereas France's has im¬
“whose well-being, we are assured, is the
object of all
proved. The income return on United States bonds is
your sacrifices and patriotic labors.”
Then
Mr. Wil¬
much below that on the European, issues here dis¬
son concluded with a tribute to the
Ministers who had
cussed, but it is scarcely necessary to explain that our
so ably
supported the work of regenerating Mexico,
bonds do not sell on an investment basis but are
and especially to the Minister for
Foreign Affairs.
helped very materially by their availability as security President
Diaz,
in
reply,
thanked
the American
for note circulation.
The United States 4s at
of the
.
,
present Ambassador and the other
representatives of foreign
yield of 2.70% to the holder, but the consol. 2s, Powers for their
“Such words,”
kindly
felicitations.
well as the Panama 2s, are on slightly less
than a said the
President, “reveal to me that the
show
as
a
nations
2%-income basis.
Investment houses and bankers
in
are
Secretary MacVeagh's proposal.
keenly interested
The whole prob¬
lem, it is admitted, is beset with delicate considerations
not to be overlooked.
Happily, the Washington
authorities realize the importance of the subject and
are determined not to act
precipitately. In addition
to familiarizing themselves with the situation in
Europe, they are consulting responsible bankers and
financiers in New York and elsewhere, so that it is
reasonable to expect that the final decision will be
dictated by sound common sense and will be willingly
accepted by those upon whom will devolve the task
of finding a market for the issue.
which you represent are sincere friends of
that fact will necessarily be to me a
Mexico, and
great stimulus.
The Mexican
public continue to honor
me
with the
confidence with which for many
years
they have dis¬
and, with that stay, I shall continue
to consecrate all my attention and
my energies to
peace and the cause of national progress.”
Reports
circulated by the enemies of President Diaz that
he
had been prostrated by recent events were
demon¬
tinguished
me,
strated to be without foundation.
It
was
announced
yesterday that Ambassador Wilson has applied for
leave of absence, an incident indicative of his
confi¬
dence that the Government's troubles
are
virtually over.
THE CHRONICLE
1478
[VOL.
LXXXXI.
Portugal, the Memphis, Atlanta, Savannah, Nashville, Little Rock,
Portuguese troops stationed on the Island of Macao, Galveston and Oakland. Taken altogether, these
at the mouth of the Canton River, rebelled on Tuesday outside cities record a gain over 1909 of 1% for the
and took possession of the seaport at Macao. The month and 7.6% for the period since Jan. 1, while,
island was first occupied by the Portuguese in 1586, contrasted with 1908, increases of 20.5% and 26.1%,
and for many years the seaport enjoyed a flourishing respectively, are exhibited, and compared with 1907
trade; but after Hong Kong passed into the hands reach 38.3% and 12.3%. At New York, as already
of Great Britain, Macao lost its prominence.
There intimated, and for the reasons stated, comparison
has been constant, though not always active, trouble with last year is unfavorable.
For the month the
decline
is
between the Portuguese and the Chinese as to the
13.8% and for the eleven months 4.7%, and
there
is
also
a loss of 4.6% from Nov. 1908.
extent of the territory ceded by China to Portugal,
Compared
with
the
eleven
months
of
that
the Chinese claiming that the concessions granted
year, however, the
were limited to the City of Macao, and to-day there
gain reaches 27.5%, and increases of 42.0% and 9.1%
over
the two periods of 1907 are to
are two wards, one administered by the Chinese and
be re¬
corded.
the other by the non-Chinese. Sailors from the
Stock Exchange dealings at New York for the month
Portuguese gunboat “Patria” marched to the public
were
very much less than in the like period of any year
square, fired three volleys as a signal to the troops,
since
1907, only 10,713,469 shares having been dealt in
and, forcing an entrance to the armory, the rebels
armed themselves and forthwith proceeded to a con¬ during November this year, against 18,769,870 shares
vent, from which they drove out the nuns, and then a year ago and 24,966,326 shares in 1908. For the
marched to the Government House, which they in¬ eleven months this year, moreover, the sales aggregated
vaded for the purpose of interviewing the Governor. but 154,327,821 shares, comparing with 197,072,179
They demanded the expulsion of the religious orders, shares in 1909 and 174,203,992 shares in 1908, and,
increased pay for the army and navy, the suppression contrasted with all years back to 1903 the current
Bond transactions, likewise, continue
of a newspaper and the righting of alleged wrongs total is lower.
suffered by the soldiers and sailors. The Government, appreciably smaller than for either 1909 or 1908, the
powerless to resist, acquiesced in these peremptory eleven months’ total of 1910 at 583 millions of dollars
requests. The nuns and other foreigners hurriedly comparing with 1,205 millions and 916 millions, re¬
departed for Hong Kong, which is about thirty-five spectively.
Canadian clearings returns continue to make a quite
miles east of Macao.
Order, however, was restored
almost immediately, the population being pacified by satisfactory exhibit.
The thirteen cities for which
the removal of the Governor and the appointment comparative figures are available, with two exceptions,
of a Judge to fill the position.
report gains over Nov. 1908, notably large in the case
of Edmonton, Calgary, Victoria and Vancouver, and in
The exhibit of bank clearings for Nov. 1910 is of the the aggregate of all the increase is 8%.
For the period
since Jan. 1, moreover, there is an excess of 18.3%.
same general character as that for the month preced¬
ing, the aggregate for the whole country, owing to Contrasted with 1908 the gains are 40.7% and 47.7%
rather important losses at a few of the larger cities, respectively.
but primarily at New York, showing a decline from the
The Southern Textile Association (cotton manufac¬
month a year ago, while outside of. this city a small
gain is recorded. At New York the lull in speculative turers), held in Charlotte, N. C., on Saturday last the
activity, which has been a feature of recent months, most successful meeting since its inception. Organized
accounts in considerable measure for the falling off, two years ago with thirty members, its growth has
but there is at the same time evidence of some let-up in been very rapid, the present membership being about
general mercantile affairs. Of the 137 cities included in 750, of which over 400 were in attendance at this latest
our compilation of clearings on the first page of this
gathering. Deep interest centred upon all the pro¬
issue, 49 record losses from Nov. 1909; for the eleven ceedings of the meeting, but especial attention was
months only 10 fail to exceed the results for the corres¬ paid to the address of Mr. L. P. Hollis, of the Monoghan
ponding period of the previous year, and, except in one Mills, of Greenville, S. C., on “Industrial Education.”
or two
instances, the declines are merely nominal. Pointing out the necessity for more skilled and intelli¬
The falling off in the total for the whole country in gent labor if the South is to continue to forge to the
November, as compared with 1909, reaches 8.1%, front in the manufacture of cotton, Mr. Hollis con¬
sufficient to wipe out the meagre gain which appeared tended that the material must be developed at home.
for the ten months, giving for the eleven months a The South only needs trained men to do its work, he
decrease of 0.1%.
Contrasted with 1908, when stock said, and the young mill men and boys are the ones
operations were very active in November, there is a to be chosen for training, as they already have a clear
gain for the month of 4.7% and for the eleven months idea of the practical side of the textile industry.
of 26.9%, and there are large increases over both Textile schools, of which five have already been
established in the South, he remarked, are doing much
periods of 1907.
Outside of New York such leading cities as Chicago, good; but as less than 5% of their graduates are former
Boston, Pittsburgh, Cincinnati and Minneapolis record mill operatives, the demand for practical graduates is
losses; these are, however, in considerable measure still felt. Mr. W. A. G. Clark, special agent of the
offset by increases at Philadelphia, St. Louis and Department of Commerce and Labor, was also a
San Francisco, and rather heavy percentages of gain speaker at the meeting.
He has for two years past
are
o be found at a number of smaller, but at the
been making investigations in South America for the
same time representative, cities.
Among these latter purpose of learning what steps should be taken to
a
be mentioned Los Angeles, Portland, Ore., promote our textile trade there, and cited facts to
As
an
aftermath of the revolution in
Dec. 3
THE CHRONICLE
1910.]
show that in that direction there is
a
promising field
for American cotton manufactures.
Mercantile failures for November 1910
were
liabilities, than for the
corresponding month last year. It is to be noted,
however, that the indebtedness reported is smaller
of the industries
or
1907.
the
earnings for the lines east of Pittsburgh and Erie,
being the only portion of the system for which we have
the data for such a comparison.
larger,
both in number and amount of
than for the month in either 1908
1479
In
a
few
Lines East
1910.
1909.
1908.
1907.
1906.
1905.
of Pittsb’g.
$
$
$
14,576,084
10,034,897
14,773,884
9,660,997
12,794,084
8,750,797
$
15,361,184
10,942,697
Net earn
4,541,187
Jan. 1 to O ct. 31.
5,112,887
4,043,287
4,418.487
October.
Gross earn
Oper. exp.
$
13,686,484
8,857,597
$
12,427,784
7,977,997
4,828,887j 4,4'49.787
137,023,656 125,222,056 111,833,356 139,076,156 122,092,556109,435,556
grouped in the manufacturing division, Gross
Oper. exp. 99,380,468 88,402,668 80,197,468 100,749.068 83,964,268 76,725,168
notably lumber, carpenters, &c., and clothing and Net
37,643,188 36,819,388 31,635,888 38,327,088 38,128,288 32,710,388
millinery, liabilities were comparatively heavy and
much in excess of 1909; in some other lines the indebt¬
edness was almost nominal. The important increases
Foreign discount rates, instead of advancing on
account
of the monthly settlements, are to-day lower
in liabilities among traders in November this year, as
contrasted with 1909, appear to have been in dry than they were a week ago.
This unusual movement
is
due
to
the
rehabilitation
of
the Bank of England's
goods and carpets and clothing. As compiled by
Messrs. R. G. Dun & Co., the number of failures was supply of gold and the falling off in speculation at all
1,003, with liabilities of $11,324,016, comparing with centres. When the announcement was made on
963 and $9,812,605 in November last year, 1,120 and Thursday that the Bank of England had reduced its
$12,599,912 in 1908 and 1,180 and $17,637,011 in rate to 4}^%, private discounts in London were imme¬
1907.
Disasters among manufacturers covered $4,- diately lowered, and bill brokers showed great readi¬
598,639, against $4,375,395 and $5,277,420, respec¬ ness to accept bills to arrive, especially those running
tively, in the previous two years; in trading lines the for ninety days. The range now is 4% for sixtycontrast is between $5,471,332 and $4,877,164 and day and 3 15-16% for ninety-day spot bills and 3J4%
$5,731,104, and liabilities of brokers, transporters, for sixty-clay and 3j^% for ninety-day bills to arrive.
&c., at $1,254,045, compare with $560,046 in 1909 Paris stands willing to negotiate both spot bills and
and $1,591,388 in 1908.
The eleven months’ failures bills to arrive at the low figure of 2^%, or
of 1%
of 1910 numbered 11,524 and the indebtedness reached under the Bank rate, notwithstanding that Thurs¬
$184,719,016, which compares with 11,793 and liabili¬ day’s weekly statement of the Bank of France showed
ties of $138,478,338 last year, 14,253 and $208,176,103 a decrease of gold and silver combined of $3,300,000,
in 1908 and 10,409 and $161,088,439 in 1907.
Manu¬ an increase of $27,515,000 in note circulation and an
facturing failures cover the greater part of this year’s expansion in bills discounted of $30,155,000. Berlin
debts, reaching $81,823,518, against $59,164,029 in alone of the principal European financial cities has
1909 and $91,560,232 in 1908; trading liabilities of not, owing to the extensive Dec. 1 demands for cash
$68,364,533 contrast with $51,326,057 and $84,731,493, and accommodation, marked down discounts this
and brokers, &c., have been involved to the extent week; spot bills are charged 4^% and bills to arrive
of $34,530,965, against $17,988,252 and $31,884,338. 4%%, an advance of Y of 1% as compared with a
week ago.
The Brussels rate has fallen to 4%, against
As in the case of other roads, the conspicuous fea¬ an official charge there of 5%, and the Amsterdam
ture in tlie October return of earnings of the Pennsyl¬ rate to 33^2%.
No intimations have been forth¬
vania RR. is the great increase in operating expenses, coming of any other changes in foreign bank rates be¬
revealing the advances in wages made the current year, tween now and Jan. 1, but the indications are that at
together with the other influences and agencies that Berlin and Brussels the 5% minimum will not be long
It is not often that the financial com¬
are combining to raise operating cost in all directions.
maintained.
Unfortunately too, we have reached the point where munity is speculating upon downward changes in
the comparisons no longer show gains in gross earnings bank rates in December.
The Bank of Bengal yes¬
—where, in fact, some of the lines are now actually terday advanced its rate from 6% to 7%, which ought
recording decreases. As a consequence of all this, we to mark the culmination of the tightness in India.
The Bank of England began the week by purchasing
have heavy losses in net earnings.
Oil the lines
directly operated east of Pittsburgh and Erie the most of the new gold offered in the open market, and
Pennsylvania statement shows a decrease of $197,800 although, as our special London correspondent cables,
in gross earnings coincident with a rise of $373,900 in there were exports to Egypt and South America,
expenses, thus producing a loss in net of $571,700. Thursday’s statement disclosed a small gain in bullion,
On the lines directly operated west of Pittsburgh and namely, £40,448, while since then the institution has
Erie the gross revenue was $121,400 better than in the purchased £375,000 in bars and coin in the market.
After deliberating for an unusually long time, dur¬
same month of last year, but here the increase in
expenses amounted to $688,500, leaving a loss in net ing which differences of opinion probably were ven¬
of $567,100.
For the combined lines, therefore, the tilated, the Bank Directors decided to reduce the
result is a loss of $76,400 in gross, with an augmenta¬ minimum discount rate from 5%, as fixed on Oct. 20
tion of $1,062,400 in expenses, cutting the net down last, to 4J^%. No such change had been anticipated
no less than $1,138,800.
In October last year, it is by either London or New York, particularly in face of
proper to say, the combined lines recorded $3,490,800 the hotly-contested general election now in progress.
gain in gross and $1,739,100 gain in net. In 1908, The week’s changes in the Bank’s accounts were not
however, there had been $4,173,100 falling off in gross all in the right direction, a fact that added to the sur¬
and $462,700 loss in net, this latter having followed prise occasioned by the lowering of the rate.
The
reserve
decreased
total
£202,070, loans expanded
$126,100 loss in net on the combined lines in 1907.
In the following we furnish a six-year comparison of £1,019,010, public deposits were £154,070 larger,
earn
earn.
,
1480
ordinary deposits
THE CHRONICLE
£686,035, while circulation in¬
£242,040. The net result was a decline in the
ratio of reserve to liabilities from 51.47% last week to
50.25% this week; this figure, however, is more than
3% above the average carried at this season during the
last decade, and is, indeed, the best recorded at the
opening of December, with the exception of last year,
in recent times. The same remark applies to the
amount of bullion on hand, the total being, as our
correspondent informs us, £35,631,472. Our special
cable dispatch also advises us that the £40,448 gain
in bullion for the week was due entirely to purchases
in the open market.
Tiie details of the movement into
out
of
and
the Bank were as follows Imports, £5S0,000
creased
rose
iVoi..
range for the best four to
well as for sixty to
as
receivable is
are
LXXXXI.
six months’ single-name bills
ninety days’ endorsed bills
4% to 5*4 %; less attractive single names
quoted at 5*4 to 6%.
Dulness, relieved only by occasional operations by
speculators, has prevailed in foreign exchange, which
has apparently settled down to a basis in the neigh¬
borhood of 4 86 for demand and 4 86*4 for cable
transfers. These rates preclude any international
movement of
gold. Nor is this regrettable, for New
plenty of loanable money, London is com¬
fortable, and on the Continent there is no undue pres¬
sure
calling for relief. The only gold shipments on
York has
(wholly bought in the open market, and including this side of the Atlantic have consisted of small con¬
£84,000 French coin and £10,000 United States coin); signments, aggregating $2,000,000, to Canada before
exports, £336,000 (of which £311,000 to Egypt and the end of November, while local banks transferred
£25,000 to South America), and shipments of £204.- $1,800,000 to San Francisco through the Sub-Treas¬
000 net to the interior of Great Britain.
ury and $300,000 to New Orleans yesterda3>\
Lat¬
terly the exchanges have not favored a continu¬
Quiet trade, the absence of public participation in ance of the outflow either to the North or to the
speculation and the return of currency from the in¬ Pacific Coast, and it is assumed that Canada will
terior have combined to bring about a fall in money not draw more before the closing part of the year,
rates at New York.
Money brokers report a plethora when balance sheets may be strengthened by calling
of offerings for all periods.
Call money has averaged freely upon New York to remit part of the large sum
only 2^8% during the current week, an abnormally carried here for Dominion banks. The Californian
low rate for the November-Decembcr requirements. fruit season is now active, and the demands from that
Loans to mature before Dec. 31 have been obtainable quarter may reappear at any time.
Our bankers,
appreciably below 4%, while facilities for sixty days as well as our stock market operators, are little con¬
to six months have been pressed on the market at 4%. cerned over these losses of gold because the offerings
Certain lenders, in order to stimulate business, have of funds here are now so largely in excess of the inquiry
accepted all-industrial collateral without insisting upon that it it difficult to find borrowers even at the lower
better than a 4% return.
Yet manufacturers and quotations ruling. Gold might have been driven out
merchants desirous of putting out bills have not been of the country by the fall in the value of
money had
able as a rule to secure accommodation at less than there not been an equally marked decline in discount
1% above the collateral loan rate. The minimum of rates in London—bills to arrive arc quoted 3%@
4%% has been less frequently quoted for regffar four 3j4%, while acceptances in January are considerably
to six months’ bills than 5 @5*4%- On the latter terms lower.
Conditions in the foreign exchange market
high-class drawers can now find purchasers both do not presage any early trans-Atlantic movement of
locally and out of town; but in a 4% money mar¬ the precious metal. No finance bills worth mention¬
ket firms of the best standing naturally do not ing are coming on the market to depress rates, the
care to pay 514% -for the use of funds.
The indi¬ supply of cotton bills is not abnormal, and grain bills
cations are that after, if not before, the new year, are in only moderate volume.
Long billsYor invest¬
ment
have
been
discounting will become more active at 4% @5% and
keenly bid for. The contango rate
on
American
stocks
at this week’s London settlement
perhaps a trifle less, as it is not easy to figure out how
financial institutions can safely and profitably employ was surprisingly high—6*4@634%J and other Stock
the money that is now accumulating on their hands. Exchange loans were charged 5J4@5J4%> although
The call rate is wholly unprofitable; no large amount since then the
money market, especially after the re¬
can be put out on time at
4%, and most institutions duction in the Bank rate, has weakened radically.
prefer to cany at least a moderate amount of trust¬ The legitimate business in exchange rules very quiet,
worthy mercantile paper instead of investing all their but one or two institutions and allied brokers have been
excess resources in bonds or stocks.
Heretofore the speculating on a moderate scale. Quotations, how¬
supply of bills has been more than adequate to meet ever, have fluctuated within a comparatively narrow
the restricted inquiry, but unless business recovers
range.
substantially the output of bills may easily fall below
the demand.
Compared with Friday of last week, sterling ex¬
Call money touched 2*4% on Monday and ruled at
change on Saturday was easier for demand and cables,
2%%. On no subsequent day did the maximum quotations being 4 86 @4 8605 and 4 8650 @4 8655,
exceed 2*4 %, while quite a few loans were made at as respectively; sixty days were quoted at 4 8220@
low as 2%.
The firmness customary on the opening- 4 8225. Demand on Monday declined to 4 8590@
day of the month did not materialize, renewals being 4 8595, cables to 4 8640@4 8645 and sixty days to
made on Thursday at 2%%.
Yesterday the range was 4 8215@4 8220. On Tuesday demand advanced to
2J4%
2*4%, with the final loan made at 2*4%. 4 86 @4 8605, cable transfers to 4 8645 @4 8650 and
Time money is quoted at 3*4% for December maturities sixty days to 4 8225@4 8235.
On Wednesday closingand 4% for all dates from forty days to six months.
quotations were practically unchanged, and on Thurs¬
These low figures induced certain powerful
speculators day, after an early decline of 10 points, there was a
to transfer accounts from London to this
city. The recovery before the close to 4 8230 @4 8235 for sixty
Dec. 3 1910.!
THE CHRONICLE
1481
days, 4 8595@4 8605 for demand and 4 8640@4 8650 casion elapsed between the first intimation of an ap¬
for cable transfers.
On Friday the same quietness peal to the people and the beginning of the voting,
prevailed, with, however, a firmer undertone, demand and not much more than five weeks will have elapsed
before all the votes are in.
being wanted at 4 86 and cable transfers at 4 86.
How different this is from the usual procedure may be
The following shows the daily posted rates
of judged from the fact that in the general election of
last January an appeal to the country had become in¬
sterling exchange by some of the leading drawers.
evitable on Nov. 30, when the Lords vetoed the budget.
Fri.,
Mon.,
Tues.,
Wed.,
Thurs., Fri.,
Nov. 25 Nov. 28 Nov. 29 Nov. 30 Dec. 1.
Dec. 2.
Parliament was dissolved late in December; the voting
Brown
83
83
83
83
J 60 days 4 83
83
did not begin until the middle of January, and it was
Bro3. & Co
87
87
87
87
87
_\Slght-. 4 87
82 y2
82 H
82 H
83
Kidder,
j 60 days 4 82 V2
83
86 y
86 H
86 y2
87
Peabody & Co
87
.\Sight-. 4 86 H
February before it was over. That is to say, on the
Bank of British
83
83
83
83
83
/ 60 days 4 83
North America
87
87
87
87
I Sight-. 4 87
87
last occasion in point, which was by no means a pro¬
Bank of
83
83
83
83
83
/60 days 4 83
Montreal..
4 87
87
87
87
87
87
.1 Sight
tracted electoral contest, seven weeks elapsed be¬
Canadian Bank
82 H
82 y2
83
83
83
J 60 days 4 82 H
of Commerce
86 H
86 H
87
87
.\ Sight.. 4 86 H
87
tween the voting against the Ministry in the House of
83
83
83
83
Heldelbach,
i 60 days 4 83
83
Ickelheimer & Co. 1 Sight-. 4 87
87
87
87
87
87
Lords and the beginning of the balloting, and ten
82 V2
Lazard
82 U
82 H
82 H
/60 days 4 82 H
82%
...
_
.
.
Frere3._
Merchants’ Bank
of Canada.
-ISlght.- 4 86^
J 60 days 4 82 ^
-\Slght-. 4 86 H
The market closed
on
86 H
82 H
86 ^
86 y
82 y2
86 y.
86 X
82 X
86 y
86 y
83
87
86 y
83
87
Friday at 4 8245@4 8255 for
weeks before
a
final decision
was
rendered.
It is
no
doubt
the
possible to argue that the present shortening of
electoral campaign is a good thing in itself, be¬
60
days, 4 86@4 8610 for demand and 4 8650@ cause of the business disturbance which was to be ap¬
Commercial on banks was quoted prehended while the political conflict was in progress.
at 4 82@4 8234 and documents for payment
4 8234 But we rather imagine that suspicion will in most
@4 82%. Cotton for payment ranged from 4 81%@ minds indicate a different cause—namely, the fact
4 82, grain for payment from 4 8234 @4 82%.
that the recent Liberal victories, in one or two of the
by-elections, have led the Asquith Ministry to infer
The following gives the week’s movement of money that the sooner it gets a vote the better for its own ad¬
to and from the interior by the New York banks.
vantage. Furthermore, it is always a possible in¬
ference that a party which insists on an exceptionally
Received by
Net Interior
Shipped by
Week ending Dec. 2 1910.
N. Y. Banks. N. Y. Banks.
Movement.
short campaign when highly important issues are at
Currency
$7,569,000
$5,809,000 Gain $1,760,000
stake, is the party which in its inmost heart has most
Gold
1.194,000
2,300,000 Loss
1.106,000
to fear from prolonged and thorough discussion.
Total gold and legal tenders
$8,763,000
$8,109,000 Gain
$654,000
4 8660 for cables.
...
With
The second consideration which makes this elec¬
the
Sub-Treasury operations and gold
ports the result is as follows.
Week
ending Dec. 2 1910.
Banks’ Interior movement, as above.
Sub-Treas. oper. and gold exports..
Total gold and legal tenders
ex¬
Into
Banks.
Out of
Banks.
$8,763,000
31,300,000
$8,109,000 Gain
37,000,000 Loss
$654,000
5,700,000
$40,063,000
$45,109,000 Loss
$5,046,000
Net Change in
Bank Holdings.
toral
episode different from others is still more striking..
According to the precedent of centuries, a British
Ministry resigns office or appeals to the people when
its
measures
have been defeated in Parliament.
in the present case nothing of the sort has
No Ministerial measure has been rejected in
of Commons.
The Lords
not had
But
happened.
the House
have
before them
following table indicates the amount of bullion
Asquith's resolution regarding the powers of the two
in the principal European banks.
Houses, and they have rejected no other Ministerial
Dec. 1 1910.
Dec. 2 1909.
Banks of
proposal. What they have done, in the week or two
Gold.
Total.
Gold.
Silver.
Silver.
Total.
of the present session, is to adopt a tentative compro¬
£
£
£
£
£
£
England.. 35.631,472
35,631,472 36,290,676
mise proposition of their own regarding the composi¬
36,290,676
France
131,533,520 33",086,686 164,619,600 141,720,280 35,814,080 177,534,360
Germany.. 36.913,40) 13.711,250 50.644,650 36,984,900 12,128,600 49,113,500
tion of the House of Lords. This proposition the
Russia
145,704,000
6,055.001 151,759,000 143,291,000
6,719,000 150,010,000
Aus-Hunb 55,398,000 12.003,000 67,401,000 57,038,000 12,096,000 69,134,000
Ministry has declined to submit to the House of Com¬
Spain
16,400,000 30,767,000 47,167,000 16,094,000 30,969,000 47,063,000
Italy
39,146,000
3,475,000 42,621,000 38,380,000
4,000,000 42,380,000
Netherl’ds
mons, preferring to go in haste to the country on the
10,252,000
2,416,000 12,668,000 10,080,000
2,841,900 12,921,900
5,518,000
Nat.Belg..
2,759,000
8,277,000
4,155,333
2,077,667
6,233,000
Sweden
4,478,000
4,478,000
4,375,000
4,375,000
general issue, in advance of any tangible vote in either
Switzerl’d.
6,347,000
6,347,000
5,059,000
5,059,000
Norway
2,055,000
2,055,000
House against the Ministerial policies.
1,797,000
1,797,000
Total week 489.376.392 101,292,33 > 513.668,722 495,265,181 106,646,247 601,911,436
We knenv of no parallel case to this in British poli¬
Prev. week 491,728.391 101,686.823 595,415,214 498,395.168 106,498,757 604,893,925
tics.
Indeed, it appears to be a highly unfortunate
innovation, in that it may be claimed hereafter as a
ENGLISH POLITICS.
precedent for dissolution of Parliament at any time
The new English general election, balloting for of acute
political dissension, on the ground of what
which begins in some constituencies to-day, marks a one or another House of Parliament has not done but
highly peculiar political situation which has grown possibly might do. It may easily be imagined how
more singular in character with each successive
day. useful this expedient would become in cases where a
There are three respects in which this electoral con¬
Ministry preferred to shut off at once Parliamentary
test is unique in English politics. It is'so, in the first debate on the
very question at issue.
Discussion
of
all
place, because of the quite unprecedented haste with
great public measures on the floor of Parliament
which the arrangements for the new election have has, from the beginning of English
Parliamentary
been rushed through.
It is barely a fortnight since history, been of the utmost value in setting forth
the first announcement was made that the “consti¬ clearly, in the
people's sight, the underlying issues.
tutional conference” had ended in deadlock; it is little Obviously, then, such a Ministerial
expedient, under
more than a week since the Liberal leader declared
the circumstances which we have supposed, would be a
the Ministry's purpose of dissolving Parliament; and convenient recourse for a
Ministry which was either in
it is only five days since Parliament was dissolved. the wrong or uncertain of its own
position. We do not
In other words, scarcely three weeks have on this oc¬ say that the present case is
exactly that; for the ConThe
^
i
,
....
•
....
..
....
..
1482
VOL
THE CHRONICLE
stitutional powers of the House of Lords, at any rate,
have been exhaustively discussed.
But the precedent
LXXXXI.
would not
only be prodigiously expensive, but con¬
fusing, futile and politically dangerous. We are
itself is evil.
Nor can it be defended as imperatively rather inclined to imagine, however, that the proposal
necessary on the present occasion.
There is some of a referendum on this tariff question would amount
ground even here for suspecting that the eagerness of to the shelving of the question itself for a considera¬
the Ministry to get to the people, without prolonged ble time to come.
As to the other question, what may be looked for
Parliamentary discussion of the measure on which it
professes to be making its appeal, was due to the as the immediate political result of this move by Mr.
awkward position of the Ministry itself, with the club Balfour, it is difficult to see how the campaign against
held over it by the Home Rule faction which just now the extreme Liberal policies can fail to benefit ma¬
holds the balance of power in the House of Commons.
terially. The Opposition leader’s action certainly
The third consideration which makes this electoral goes far to solve the vexed question of the Liberalcontest unique in the recent political history of Eng¬ Unionists, many of whom would not support the Con¬
land is the highly important change of front regarding servative Ministry so long as a vote to that effect com¬
the tariff question by the Conservative leaders. Writ¬ mitted them indirectly to the abandonment of free
The dispatches have intimated during the
ing a fortnight ago on the outlook for this English trade.
electoral campaign, we said that “the choice of issues past few days that Balfour’s abandonment of protec¬
by each of the two great parties, as preliminary to a tion as an immediate Parliamentary issue would “split
new election, is the question on which much of the
his party in two.”
We are, however, quite unable to
subsequent results will hang.” This was so, for the see why. No doubt, if another party were in the
obvious reason that, as matters stood at the time of field with a platform commending itself to conserva¬
writing, the Liberal Party would be handicapped in tive business men, the repudiation of “tariff reform”
the English constituencies by its Home Rule entangle¬ might drive over to that party any such business men
ments, which are most unpopular in England, whereas of Tory affiliations as had at heart the protective
the Conservative Party would to all appearances be issue.
But that is a situation which does not exist.
equally handicapped with the doubtful voters (through The strictly protectionist element in the Conservative
whom alone a majority could be obtained) because of Party—made up largely of rich manufacturers and
its stubborn adherence to the plan for a protective bankers—can scarcely object to continuance of free
tariff.
trade as greatly as they would object to a victory for
The Conservative leaders, no doubt under heavy Lloyd-George’s policies.
pressure from the Unionists, who are supporting them
Furthermore, from the standpoint of political tac¬
on the main question at issue, have been the first to
tics, Mr. Balfour’s action leaves the Liberals in an
cut this knot.
Last Tuesday Mr. Balfour, in a public awkward situation.
It is they alone who now have
speech, declared his willingness to abandon the “tariff around their neck the millstone of an embarrassing side
reform” issue for the present campaign, and to so far issue in the canvass.
Replying on Wednesday to Mr.
bury it as a Ministerial policy that in his party’s name Balfour, Mr. Lloyd-George had nothing better to say
he will agree to leave decision on the whole question than that the referendum “is a mere device to put a
of protection to a subsequent popular referendum. more effective weapon in the hands of the wealthy
Mr. Balfour’s speech concluded thus:
classes”—a statement which certainly involves a pe¬
“I frankly say that tariff reform would be a great culiar conception of the referendum.
Mr. Birrell’s
change. This election cannot be described as taking- comment in behalf of the Asquith Ministry was more
place on tariff reform simply, and I have not the least intelligible; the referendum, in his judgment, was
objection to submitting tariff reform to a referendum.
It seems to me that our opponent should respond with “delusive, dangerous and unworkable, and calculated
the generosity of honorable combatants, and say, to destroy free representative government.”
But
‘We agree that Home Rule shall be subject to a refer¬ even this, as we have seen, overlooks the immediate
endum.’ ”
political advantage which is sure to be gained as a re¬
We believe this declaration to be entirely correct sult of the new expedient.
Indeed, the situation of the
in its statements concerning the real issue of the pres¬ Asquith Ministry is just a bit ridiculous when, after
ent election.
The two very interesting questions rushing to the polls in a way hardly warranted by con¬
which are left, after this spectacular announcement by stitutional precedent, for the people’s verdict on the
the Opposition leader, have to do, first, with the kind powers of the House of Lords, they turn to protest
pf precedent which his action will create, and,second, with indignation against another plan for submitting
with its political results in the present campaign. It will another public question directly to the people.
We
be asked with more or less concern by many thought¬ suspect that the English electorate will brush aside
ful people whether this maneuver does or does not the technicalities involved, and see somewhat clearly
endorse the general principle of the referendum.
We the inconsistent and indefensible position in which the
should say that it does not, though in that respect Mr.
Asquith Ministry has placed itself.
Balfour’s reference
to
Home
His further statement of his
tariff
reason
for
placing the
that basis was that it had to be re¬
moved from active politics at the present time. It
will have to be admitted that the adoption, even under
such circumstances, of the referendum plan might be
unfortunate as a precedent
It might easily be claimed
as such hereafter by those political busybodies who
argue for the reference of every serious question to
popular decision by a vote in bulk—a process which
question
Rule is unfortunate.
on
.
NEED
OF
REINFORCING
THE
SURPLUS
OF
OUR SAVINGS BANKS.
making another
semi-annual distribution of dividends by our savings
institutions, the question as to the rate of payment is
again receiving much consideration. Up to twelve
months ago 4% per annum was the uniform rate of
interest paid by the savings banks in this county,
and in fact throughout Greater New York.
But in
Now that the time is at hand for
Dec. 3
1910.]
THE CHRONICLE
1483
December 1909 five of the banks of this
city thought deluding themselves with the notion that they have
it wise and prudent to come down to 3J^% per annum, a surplus about 40% larger than would prove to be
the Bowery Savings Bank, which ranks as the largest true if occasion arose for disposing of the securities
in the State, being among the number, as also the at market prices.
What a fallacious test the amortization or invest¬
Dry Dock Savings Institution, which also is an insti¬
tution of considerable size.
Last June six other insti¬ ment value is will appear from a comparison of the
tutions came down to a 3J^% basis, led by the Bank figures for the last three semi-annual periods. Ac¬
for Savings, which in the extent of its deposits stands cording to the statement for July 1 1909 the surplus
close to the Bowery Savings Bank.
The Greenwich on the investment value was $141,514,620. For
Saving Bank and the Union Dime were two others Jan. 1 1910 this had increased to $144,082,568 and
included in the list, though as to the Greenwich a July 1 1910 saw it up to $148,609,510.
But while the
distinction was made between large accounts and small banks were thus getting steadily richer on their own
accounts, 4% being paid on amounts of SI,000 or less, estimate of the value of their securities, they were
but only 3%% on the excess above SI,000.
growing poorer on the basis of the true values—those
The reason that prompts the banks in reducing their ruling in the market.
On July 1 1609 the surplus on
interest rates is the fact that the ratio of surplus to the basis of market values was $108,757,437.
On
Jan.
1
1910
this
had
been
reduced
to
$106,835,540,
deposits has been dwindling for quite a while, and a
for
while
point has been reached where it would appear to be a
July 1 1910 the amount was down to $101,departure from sound principles of banking to allow 310,603. In the interval the aggregate of deposits
any further encroachments upon said surplus.
Sav¬ had risen from $1,444,974,860 to $1,526,935,581,
ings institutions of this State are restricted in their affording an idea of how the disparity between sur¬
investments to the choicest lines of securities, and hence plus and deposits is growing.
not the slightest question can be raised as to their
The point on which we would lay especial emphasis
soundness, speaking of them collectively. Neverthe¬ is that this further decline in surplus has occurred
less, prudence suggests that as these savings de¬ notwithstanding the action of several of the institu¬
positories are not merely investment institutions but tions, as set out above, in reducing their interest rate.
also partake of the nature of banking institutions, Clearly this presents a situation to which a corrective
their surplus should bear an adequate ratio to lia¬ should be applied—not because the situation involves
bilities. Judged by that standard, these insti¬ the possibility of any immediate danger, but to prevent
tutions are not as strongly fortified against con¬ a loss of confidence on the part of the depositors and
tingencies as it is reasonable to ask, 1 in the the general public in the impregnability of the insti¬
interest of the
entire
community, that they tutions. Of course it does not necessarily follow that
should be.
because the surplus has further diminished that further
We have many times in the past given figures to depreciation in the value of the securities held is
show what a shrinkage in surplus has taken place going on.
Obviously, the payment of larger divi¬
within recent years.
But the downward movement dends than the earnings warranted would likewise
is still in progress.
Twenty years ago, that is on operate to pull down the surplus. It is at all events
Jan. 1 1890, when the total deposits for the whole certain that surplus cannot be built up again, other
State were only $550,066,657, the surplus amounted things being the same, except by keeping dividends
to $94,601,800, the ratio of the latter to the former smaller than
earnings, thereby allowing a portion of
thus being over 17%.
To-day, with the deposits the latter to accumulate and form accretions to sur¬
three times as large, their amount (taking the return plus.
In the figures we have cited, we are dealing
for July 1 1910) being $1,526,935,581, the surplus is with the general totals.
Not a few of the banks, as
only a few millions in excess of the former figure, being we have seen, have reduced their interest rate to 3J^%.
$101,310,603. In other words, the surplus is now The teaching of the figures cited is that those that
onl}r 6.63% of the deposits, as against 17.19% on Jan. 1 have made no change in rate should speedily follow
1S90.
This furnishes such a striking contrast that in the same footsteps.
the logic of the situation, one would imagine,
It is almost superfluous to say that the position of
ought to
some of the institutions is much
appeal to every sensible .bank manager.
stronger than that
We may be sure, too, that there would be no two of
others, and yet in no case is the surplus larger than
opinions regarding the matter except that about two it should be. Note for example that there is only
years ago an evil genius arose and argued with a great one savings bank in New York County that is carrying
show of plausibility in favor of a ne.w way of calculat¬ a
surplus reaching or exceeding 10%. Note further
ing surplus. Th6re was no need of considering market that there are only four banks, including the one
value at all, which had gone against the banks anyway. already mentioned,
where the surplus amounts to
Why not value our securities on an amortization even 8% of the deposits. One thing which usually
principle? Where that principle is applied there can acts as a deterrent upon a reduction in the rate is a
be no depreciation whatever, save that due to the fear of
losing deposits. The larger institutions can
of
of
course
afford to view the possibility of such loss
gradual extinction
premium through amortization.
The bonds having been purchased on a certain income with indifference, and as far as concerns the smaller
basis are carried on the books on that basis until banks a
possible increase in deposits resulting from the
maturity. If in the meantime a serious shrinkage retention of the 4% rate could serve only to further
in the market value of the securities should
occur, weaken their position; for with larger deposits, the
just as has actually happened in the present instance, surplus, already limited, would be spread out over
the duty of the savings bank
manager is to close his a larger volume of liabilities, making the particular
A few of the institution still more vulnerable instead of fortifying
eyes to the fact, so he has been told.
officials have yielded acceptance to the idea and are and strengthening it.
•
1484
THE CHRONICLE
But fears of
loss of
deposits from a lowering of
interest rates may, we think, be safely dismissed
altogether. The ordinary savings-bank depositor, it
may be taken for granted, does not like to see his
interest return diminished; but when the move is
clearly essential and prompted by caution and con¬
servatism, he is likely to think twice before transferring
his hoard to another institution which may seem willing
to run the risk of maintaining the old rate of distribu¬
tion for one or two semi-annual periods longer. We
have had the curiosity to trace the course of the de¬
posits of those institutions which have already come
down to 3^%, and the result, we think, will be sur¬
prising to those timid souls among savings bank man¬
agers who are apprehensive lest such a move should
prove unfavorable to the fortunes of their own insti¬
tutions. In the following we show the deposits at the
a
last four semi-annual dates of each of the eleven banks
[VOL.
LXXXXI.
exceeding 10% of its deposits.
But another argu¬
point. Notwith¬
standing that a number of the banks have cut their
dividend rate, and notwithstanding that the great
majority of them are able to show only a very small
ratio of surplus to deposits, every one of the 32 saving 5
banks in this county, with only three exceptions, suffered
a reduction of this ratio between Jan. 1 1910 and
July 1
1910.
Obviously, the banks ought to place their
dividends on a basis where they could add at least
a little to their
surplus accounts. The fact that only
or
ment is still
more
conclusive
on
this
three institutions out of 32 in the whole county were
able to do this is proof positive of the need of a general
move
to
get away from the 4% rate.
THE STEEL CORPORATION'S PENSION PLAN.
The United States Steel Corporation—that mar¬
velous
conception of the brain of J. P. Morgan—has
having reduced their rate of
comfort
distribution. We add lines at the end to indicate
fund to
the deposits for the other savings banks in New York provide for the support of faithful
employees in their
old
County and also the deposits for the whole State.
age has been consummated and is to begin on
that
are
on
record
taken another step intended to promote the
and well-being of its employees.
A pension
as
Name—
Jan. 1 1909.
Banks reducing Dec. 31 1909—
$
Bowery Savings Bank.
Dry Dock Savings Inst.
Italian Savings Bank..
104,458,926
34,642,183
1,716,259
North River Sav. Bank
8,328,619
Union Square Sav.Bank
8.725,288
Banks reducing June 30 1910—
Bank for Savings
92,512,997
Citizens' Savings Bank
14,627,690
Franklin Savings Bank
16,911,302
Greenwich Sav. Bank.
69,640.201
Manhattan Sav. Inst..
11,178,851
Union Dime Sav. Bank
26,273.384
Total 11 banks
July 1 1909.
$
107,546,035
36,034,748
1,984,327
8,757,399
9,494,890
Jan. 1 1910.
$
108,720,524
37,073,812
2,398,029
9,028,439
10,025,820
July 1 1910.
$
105,603,342
37,106,181
2,707,547
8,883,960
10,065,668
95,861,198
15,119,493
18,055,736
61,676,767
11.598,603
28,223,795
98,216,475
15,716,167
18,881,462
62,921,637
11,986,087
29,693,122
100,991,489
16,304,882
20,170,211
64,580,245
12,478,131
32,012,509
Other banks In county
379,015,699
359,562,264
394,352,991
371,915,940
404,661,574
381,332,437
410,904,165
395,534,474
Total New York County.
738,577,963
766,268,931
785,994,011
806,438,639
Total New York State...1,396,443,328 1,444,974,861 1,483,449,494 1,526,935.582
The eleven banks which have reduced hold
Jan. 1 1911.
The
Steel
Corporation, in its management and
organization, is distinguished for many things; but for
none more than the
comprehensive plans to enlist the
support of its employees and advance their welfare.
At the very start a plan was put into operation by
which employees are allowed to purchase shares of the
company's stock by installment payments at a reduc¬
tion from the current market price, and are, besides,
accorded
liberal
bonuses
for
faithful
service.
On
half
May 1 last a plan for relief in case of work accidents
the savings funds in the county and the course of their was put into effect. This was discussed in our issue
deposits has been no different from that of the banks of April 23.
Under it relief is paid for temporary
which have adhered to the 4% rate. On Jan. 1 1909 disablements and for permanent injuries and for death.
the deposits of the former were $379,015,699; from The pension system now inaugurated is entirely
this there was an increase to $394,352,991 July 1 1909, separate and distinct from this Voluntary Accident
to $404,661,574 Jan. 1 1910 and to $410,904,165 Relief Plan, which provides for employees who may
July 1 1910. On the other hand, the banks which be injured and the families of employees who may be
have not as yet reduced started on Jan. 1 1909 with killed while at work in the service of the subsidiary
deposits of $359,562,264 and have gained in much the companies of the Steel Corporation. Perhaps the
same way with each semi-annual period, there
being most striking feature of these arrangements is the fact
an increase to $371,915,940
July 1 1909, to $381,332,- that neither the Accident Relief Plan nor the Pension
437 Jan. 1 1910 and to $395,534,474 July 1 1910. Fund involves any contribution from the men them¬
Not alone that, but the aggregate of the deposits for selves.
the whole State has followed
a
over
closely similar
course.
"It should also be observed that of the whole eleven
institutions here given only two show for July 1 1910
smaller
The Pension Fund is
comprehensive affair.
(1910) by the
joint action of the Steel Corporation and Andrew
Carnegie, and is called the United States Steel and
Carnegie Pension Fund. The Steel Corporation pro¬
vided $8,000,000, which, with the Carnegie Relief
Fund of $4,000,000 created by Andrew Carnegie on
March 12 1901, makes up a joint fund of $12,000,000.
Old-age pensions are to be paid to employees from
It
was
a
very
established in the current year
deposits than for the previous January, and
only in the case of one, namely the Bowery Savings
Bank, is the loss appreciable in amount and in that
instance other circumstances, aside from the
lowering
of the rate, may well have played part in the fall¬
ing off.
Altogether are we not justified in thinking that the income of the fund. There are three classes of
much though the depositor may like a high interest
pensions, namely pensions by compulsory retirement,
rate, he also appreciates conservative management. pensions by retirement at request and pensions for
And this experience ought to be an incentive to other permanent incapacity. Under the first, all men who
institutions to fix their dividend rates
on a
basis per¬
mitting the restoration of the surplus fund to a plane
more nearly in accord with the demands of the situa¬
tion.
There is not
an
institution in the whole county
that could not with
advantage to itself lower its divi¬
being.
already indicated that only one savings
county is able to show a surplus equaling
dend for the time
1
We have
bank in the
a
longer in the service and
and all women who have
been twenty years or longer in the service and have
reached the age of 60, are to be retired and pensioned,
though, at the request of their employing officers,
persons employed in executive or administrative posi¬
tions may be allowed to continue in active service after
reaching the ages mentioned. Under the second
have been twenty years or
have reached the age of 70,
Deo. 3 1910. j
THE CHRONICLE
1485
-■
who has reached the age of 60, and
every woman who has reached the age of 50, and been
twenty years or longer in the service, may be retired
and pensioned either at their own request or at the
request of their employing officer.
Under the third class any employee who has become
permanently and totally incapacitated through no
fault of his or her own, and been twenty years or longer
in the service, may be pensioned at the discretion
of the Board of Trustees.
For each year of service
1% of the average regular monthly pay received
during the last ten years of service is to be given.
Thus an employee who has been twenty-five years in
the service, and has received an average regular
monthly pay of $60 a month, will receive a pension
allowance equal to 25% of $60, or $15 a month.
No pension is to be more than $100 a month or less
than $12.
Leave of absence, suspension, temporary
lay-off on account of reduction in force, or disability, is
not to be considered as breaks in the continuity of
service, and time thus lost is not to be deducted in
reckoning the length of service. Dismissal or volun¬
tarily leaving the service, followed by re-instatement
within two years, is not to be considered as breaks in
the continuity of service, but the time thus lost is to
be deducted in reckoning the length of service.
No
assignment of pensions will be permitted; neither are
pensions to be subject to attachment or other legal
As this pension
process for debts of the beneficiary.
plan is a purely voluntary provision for the benefit
of employees superannuated or totally incapacitated
after long and faithful service, it is expressly provided
class,
His
he said, consists of 45,000 policy¬
holders, scattered over the whole country, and as they
cannot speak for themselves he deemed it incumbent
upon him as a trustee to speak for them. Of the fund
belonging to these scattered persons, the company’s
trustees have placed 37J^% in railroad securities; and
of the total, 9,118 millions of aggregate bond issues
of the steam roads of the country, he estimated that
the life insurance companies doing business in this
State, acting for 20 million policy-holders, hold oneeighth. These figures can be compared with the care¬
ful statement lately made [“Chronicle” Sept. 24,
p. 758], which includes other institutions.
These
others, including the savings banks, have not yet
found a personal spokesman for their concern in this
matter; therefore it is well that one has come forward
for life insurance policy-holders.
The value of what is called a “security” necessarily
rests upon that of the substance against which it
holds a lien; the value of the lien, said Mr. Ide, is af¬
fected by the margin of value above the amount of
the lien.
For example, if a piece of real estate worth
$100,000, on which a mortgage of $60,000 is out¬
standing, should for any reason fall in value to $80,000,
the margin of safety for the loan is cut in half; there¬
fore the value of the investment is impaired, notwith¬
standing the borrower may continue payment of in¬
terest.
He cited the fact that many States (notably
this State) require interest-paying unbrokenly for a
term of years before savings banks can buy railway
issues, and offered this as showing that a record of
such payment is deemed a proof of investment value.
that it is to constitute no contract and to confer He adduced this (and unanswerably) as meeting the
no legal rights upon any employee.
plea that even if the earning power of railroads should
While speaking of the treatment of the employees shrink, the only sufferers would be the stockholders,
of the Steel Corporation and its various subsidiaries, it
through reduction of their dividends. Though it be¬
is well enough to recall, as indicating how considerate
The
gan with them, the injury would not stop there.
the management has really been, that the policy in the stockholders themselves are so scattered in location
matter of wages has likewise been very liberal.
By and so modest in average holding that the blow would
this we mean that in bad times the company has be
widely diffused, and the value of the bonds would
refrained from reducing wages and in good times it fall likewise.
has been the first to raise the scale of pay.
The greatest value of Mr. Ide’s plea is that he in¬
For illus¬
tration, we may point to the fact that in the spring directly brings forward, without mentioning it in
of 1909, at the time of the great break in the prices
terms, a most important factor which is liable to be
of iron and steel, when nearly all the large outside
overlooked; namely the concern which the entire
steel-producing concerns were obliged to cut wages country, including every inhabitant and every inter¬
10%, the managers of the Steel Corporation did not est, has in this subject. Complaining shippers have
even take the question of
reducing the wages of steel been urging their side, just as grumbling commuters
employees under serious advisement. Again, early have been, with total disregard of all outside their
the present year, when the steel trade was enjoying own
case, and as if nothing else were involved. The
renewed activity (which has since been lost) wages were
moneyed effect of the proposed rate advance upon
increased an average of 6%, notwithstanding that they
shippers, there is good reason to believe, is much less
had not been reduced last [year when business was bad. serious than some of them
imagine, since it will be
any man
so
THE BROADER CONCERN IN THE RAILROAD
RATES PROBLEM.
President Ide of the Home Life Insurance
own
company,
comminuted and
but
even
if this
so
were
distributed among consumers;
not
so,-
the
whole country has in the strength
and maintenance of railway credit
concern
which the
of railway finances
is so much greater
of shippers a really
Company
has come forward to speak to the Inter-State Com¬ as to make the immediate concern
merce Commission for the corporate
holders of rail¬ minor consideration.
road securities, and in so doing he brings into public
For the popular conception—all the more capable
view a phase of the rate problem which is liable to of mischief because it is a vague one which do:s not
receive insufficient attention. It is only fair to get put into plain words and held up to view—that
point out, at the start, that his company passed the issue lies between shippers and passengers on one
through the investigation of 1905 without having any hand and an independent or outside or semi-foreign
accusation, just or unjust, brought against it, so entity, called railroads; on the other, is fundamentally
that he cannot even be suspected of appearing in any incorrect.
There is no outside or semi-foreign party
other character than as a trustee for others.
and there is no such distinct entity existing.
If any-
1486
THE CHRONICLE
body desires to draw distinctions, the railroad has two
relations or functions; the one, that of common car¬
rier, bound to work for everybody, at uniform and
fair prices and open to everybody’s demands and com¬
plaints of grievances; the other, the financial relation
it sustains towards everybody and everything. The
first is the common everyday aspect, and is the only
one the
shippers are urging; but the other is not less
vital because under the surface and little discussed.
It
almost
childishly simple to
that the
layer in the foundation sustains all above it,
and that disturbing that bottom layer is attacking
the structure.
If we can affirm anything positively,
it is that the banks, insurance companies, educational
and benevolent institutions, already mentioned as
having such a large proportion of their assets in rail¬
way stocks and bonds, stand on or are built upon rail¬
What structure is built upon
way vigor and credit.
those various institutions; or, should we not rather
ask, what structure is not? Give imagination a little
rein and suppose this lowest layer impaired, would not
total overwhelming be involved?
Men of advanced years easily turn back in
memory
to the time when passenger travel between
Boston,
New York, Albany and Buffalo meant passing over
several separate roads, with a fresh start of passen¬
ger and luggage, and often some break in time at the
end of each link.
People forget readily, and so we
have all gradually come to look on the railroad as a
thing of course, as the weather is; something to be ac¬
cepted and us3d without appreciation and subject to
liberty of denouncing. It is not perfect, and it is not
ideal; it is human. It owes duties, and is trying to
perform them; but it has a right to justice. It has
no power of
magic; the arithmetic controls it as ef¬
fectually as it does the humblest man.
No, the case is so broad, and its broadest side has
been so little held up to view, that we do not
compre¬
seems
say
lowest
hend it vet.
We do not
road itself is.
It is not
even
realize what the rail¬
devouring giant, such as Don
Quixote’s bewildered eyes perceived, towering against
the sky.
It is not even an opponent with whom we
are in a
struggle. Reduced to the compactest ex¬
pression of the facts, the railroad is—just ourselves.
a
THE PENNSYLVANIA STATION AND SUBWAY
\
.
NEEDS.
j
.
After several
interesting occasions, such
as
prelimi¬
nary movement of trains through the tubes, the Penn¬
sylvania station in this city was formally opened to
public use just after midnight of last week Saturday,
beginning operation at once with 61 westbound and
55 eastbound trains in every 24
SS eastbound and 85 westbound
which had
hours, besides the
Long Island trains
Being kept out of the
previously begun.
metropolis hy a river about a mile wide having long
seemed an intolerable condition, a suspension
bridge
was contemplated as far back as
1884, but was estopped
by the financial situation of that year; the subject
came up again in
1892, and the silver exigency of
1893 prevented again.
The acquisition of control of
the Long Island road in 1900
emphasized the need of
some action, but the other
ferry-using roads did not
approve the bridge plan, and a charter in the interest
of a single road was
unattainable; so the Pennsylvania
took up the under-water method as the
only one open.
Construction
[VOL.
LXXXXI.
the tubes
began on June 10 1903;
May 1 following. To get the
eight acres covered by the station (more than occu¬
pied by any building yet built as a single piece of
work), more than 500 buildings were razed, includ¬
ing several churches. The station and yard area
is 28 acres, with 16 miles of track; the
length of the
21 standing tracks is a little over four
miles, and the
storage tracks alone will take 386 cars. The building is
784x430 feet, with a height above the street of 69 to
153 feet; it is lighted by 500 arc and 20,000 incandescent
lamps. Its supporting columns number 650; its ex¬
terior walls aggregate nearly a half-mile in
length; be¬
sides 550,000 cubic feet of Milford pink granite (trans¬
ported in 1,140 freight cars), 27,000 tons of steel and
on
on
the station itself
on
15 million bricks have been used.
The first train had
hardly moved before the great
accepted by the public so cheerfully
that it somehow seemed to be already old and
familiar,
and the feeling of wonder remained as to how the
city
had got on so long without it.
The far-seeing vision
of the late President Cassatt, and the
power which
enabled him to make others catch some
moving
glimpse of that vision, cannot possibly be too much
honorecj,; the bronze in the building is only a reminder,
structure
was
the work itself is
a
monument.
In 1886 the roads which
came
to
Manhattan from
the western bank of the river carried
nearly 59 mil¬
in 1890 over 72 millions; in 1896 over
94 millions; in 1906 about 140 millions. The
popula¬
tion within a circle of 19 miles radius from the
City Hall
was 3,326,998 in
1890; in 1900, 4,612,153; in 1905,
lion passengers;
5,404,638.
same
area
The estimate for 1913 and 1920 for the
is six and
eight millions.
Imagination may be left to fill out the picture. But
object lesson presented recalls that during the
seven years since this work
began there has been no
new
subway construction, except some extension
work and the McAdoo line.
The subway situa¬
tion is irresistibly brought to mind.
To-day, that
is in discussion and conference, with one journal
criticizing the Mayor as being all that estops the triborough scheme from movement, and the “triborough
league” angry with him because he acknowledges no
pledges and insists on carefully studying before acting.
The “Chronicle” has refrained from discussing the
claims of any particular routes, because those are in
an unhappily bitter
controversy, and because large
as is the question of
routes, the question of the basis
of action is much larger and farther-reaching.
Put
aside for the moment all feeling towards corporations,
and the Interborough in particular; put together three
undisputed- facts: the great demand for subways,
the desire of private capital to meet that demand, and
the certainty that private capital (if permitted) could
and would carry the work through to operative readi¬
ness most speedily and most
thoroughly. Then why,
considered coldly, as a matter of practical business,
might not the work be offered to the free capital of
the world, subject, necessarily, to proof of responsi¬
bility and to making sure that no clash arose between
rival constructors and no obstacle to expansion in the
future became interposed?
It is promptly assumed that the city will undertake,
as a matter of course, the unprofitable things (such as
ferries), which private Capital refuses; but—laying
aside all heat, and all feeling, and all pulling to and fro
the
THE CHRONICLE
Dec. 3 1910.
by private interests which want work that shall come
their
particular way—can any sound reason be
given for dragging the city into subways when private
capital is ready to supply the demand?
There is a reason, evidently: the desire which has
been wrought up, by various methods, to have the
city go into “business” by municipal ownership and
operation. We submit that this is not a good reason.
The city is already overloaded with work of its own
own
which it cannot turn
others, and the borrow¬
ing power now legally open to it (whether 57 millions
or something more) is not larger than ought prudently
to be held in
over
to
for other needs which
growing
While the estimated figures of increased as¬
needs.
sessable values and borrowing power which have just
been put out look impressive in headlines, and may be
caught up to sustain the easy contention that the city
has plenty of money for all purposes, it should be
noted that these figures are only an estimate for the
future, and that constitutional authority to borrow
is neither cash in hand nor a guaranty of loans on the
reserve
are
most favorable terms.
1487
the cotton bills.
At the time of the visit here of Sir Edward,
in
October, a proposition was made by a group of local surety
companies to guarantee the cotton bills at the flat rate of
6 cents per bale, and it is understood to be altogether likely
that they will provide the guaranty for Sir Edward.
It is
stated that a definite announcement regarding the matter
will be made by Sir Edward within a few days.
Another promulgation this week with regard to bills of
lading came from the Inter-State Commerce Commission,
which has prohibited carriers from issuing bills of lading
showing a date prior to that upon which shipping instructions
are received by the carrier.
The order is as follows:
by the Commission has developed the fact that certain
Chicago and other points are Issuing bills of lading showing a
date prior to that upon which shipping Instructions are received by the
An Investigation
rail carriers at
carrier.
These bills of lading purport to
show that
cars are In course of transporta¬
that upon which such consignees
are Indicated to the carrier.
In specific cases brought to the attention of
the Commission this has resulted In loss to the buyers of property through
the presentation of such bills of lading as proof that shipments had been
made on contract days, although such shipments had not been ordered for¬
ward until some days after the date shown in the bills of lading.
Therefore it Is ordered that all carriers subject to the Act to Regulate
Commerce be warned that not only must property to be transported be In
the possession of the carrier Issuing the bill of lading therefor at the time
of such Issuance, but such bill of lading must also be dated as of the day
upon which the shipping Instructions are fully given and the carrier finally
tion to named consignees on a date prior to
authorized to forward the property.
—The conditions under which
to be open
corporation tax returns are
to inspection were made known by President Taft
and statistics relative to the collec¬
under date of Nov. 25,
The Chamber of
Commerce, certainly a body repre¬ tions resulting from the tax have also been given out during
sentative of the entire city rather than of any local¬ the week. These figures have been furnished in the annual
ized private interests, has agreed to co-operate with the report of the Commissioner of Internal Revenue, which shows
the total yield as $26,872,270, contributed by 262,490
Merchants7 Association in considering the whole sub¬
corporations. The total capital represented in these cor¬
ject broadly, then reporting to the Mayor and taking porations is $52,371,626,753, their bonded indebtedness
it up with him.
aggregating $31,383,952,697 and their net income totaling
$3,125,481,101. More than one-fifth of the whole amount
realized has been
ITEMS ABOUT
BANKS, BANKERS AND TRUST CO'S.
public sales of bank stocks this week aggregate 193
were all made at the Stock Exchange..
The trans¬
in trust company stocks, all auction sales, reach a
—The
shares and
paid by the State of New York, the amount
assessed being $5,772,650.
In this State re turns jwere
received from 3 T132 corporations with an aggregate capital
it
of
was
$10,734^835,411 and
a
bonded and other indebtedness
$7,834,427,975. Pennsylvania and Illinois take second
total of 55 shares.
A sale made this week of 25 shares of and third rank, respectively, in the number of corporations,
stock of the U. S. Mortgage & Trust Co. at 480 was the first
which in the first-named State was 18,362, with total capital
public sale of the stock since June 1908. The price then paid of $5,496,433,778 and bonded and other indebtedness of
was 341, this week's price representing an advance of 139
$2,669,754,489; in the case of Illinois returns were furnished
points. The table below, given in our usual form, shows the by 17,908 corporations, their combined capital amounting
actual sales of New York City bank stocks made during the
to $3,991,058,968 and their bonded and other indebtedness
week at the Stock Exchange.
Extensive tables showing the aggregating $3,032,803,126.
• * 4
bid and asked quotations, deposits, surplus, &c., of banks
The regulations which are to apply to the inspection of the
and trust companies in all important cities in the United
returns are announced as follows:
1. The return of every corporation shall be open to the Inspection of the
States are published monthly in the “Bank and Quotation”
officers and employees^)! the Treasury Department. Where access
Section, the December issue of which accompanies to-day’s proper
to any returnYs desiredJ>y an officer orjemployee of any other department
Bid and asked quotations for all New York of the Government, an’ap’pllcatlori"for"permission to Inspect such return,
“Chronicle.”
City bank and trust company stocks are also published setting out the reasons therefor, shall be made In writing, signed by the
head of the Executive Department or other Government establishment In
weekly in another department of the paper, and will be found which such officer or employee Is employed, and transmitted to the Secre
to-day on pages 1495 and 1496.
If, however, the return Is desired to be used In any
tary of the Treasury.
actions
Shares.
BANKS—New York.
Low.
*162 Commerce, Nat. Bank of
*31 Fourth National Bank
.
High. Close.
Last
of
previous sale.
legal proceedings, or to
200
196
Nov. 1910— 200
196
197
196
Nov. 1910— 196
contained In the return could be made public, or access to any return Is
desired by any official of any State or Territory of the United States, the
114
114
114
May 1910—
application for permission to Inspect each return shall be referred to the
Attorney-General and if recommended by him transmitted to the Secretary
480
480
480
June 1908— 341
TRUST COMPANIES—New York.
10 Carnegie Trust Co
10 U. S. Mortgage & Trust
10 Union Trust Co
25
*
Co.
130
of the Treasury.
1300 y8 1300 H 1300 H April 1910—1361
Lawyers’Title Ins. & Tr. Co. 253
Sold at the Stock
253
253
at his discretion, upon application to
setting forth what constitutes a proper showing of cause, may
permit inspection of the return of any corporation by any bona fide stock¬
holder in such corporation. The person desiring to Inspect such return shall
make application, In writing, to the Secretary of the Treasury, setting
forth the reasons why he should be permitted to make such Inspection, and
shall attach to his application a certificate signed by the President or other
2.
Sept. 1910— 257
Frankfort-on-the-Oder, Germany,
is
reported to have suspended on Nov. 28. A run upon the
bank is said to have occurred several days prior to its closing,
principal officer of such corporation, countersigned by the Secretary,
under the corporate seal of the company, that he Is a bona fide stockholder
In said company.
(Where thls certificate cannot be secured,other evidence
will be considered by the Secretary of the Treasury to determine the fact
whether or not the applicant Is a bona fide stockholder and therefore en¬
titled to Inspect the return made by such company.)
The privilege of
Inspecting the return of any corporation Is personal to the stockholder, and
the permission granted by the Secretary cannot be delegated to any other
resulting in the withdrawal of an amount equal to its capital,
viz., $625,000. The deposits had previously aggregated
$1,250,000. According to the cable dispatches to the daily
papers, the bank is said to have invested too heavily in
mortgages of land companies. It is also announced that the
Dresdner Bank has agreed to assist the Vereinsbank.
—Definite adjustment of the cotton-hill-of-lading contro¬
versy appears to have been made.
According to the New
York “Times” of yesterday, the European bankers have with¬
drawn their demand for a guaranty, which was to have been
person.
3. The returns of the following corporations shall be open to the In¬
spection of any person upon written application to the Secretary of the
Treasury, which application shall set forth briefly and succinctly all facts
necessary to enable the Secretary to act upon the request:
(a) The returns of all companies whose stock Is listed upon any duly
organized and recognized Stock Exchange within the United States, for
the purpose of having Its shares dealt in by the public generally.
(b) All corporations whose stock Is advertised In the press or offered to
the public by the corporation Itself for sale.
In case of doubt as to whether
any company falls within the classification above, the person desiring to see
such return should make application, supported by advertisements,
It is also stated that
Holden, Chairman and Managing Director
of the London City & Midland Bank of London, and Chair¬
man of the Foreign Bankers’ Committee on Cotton Bills of
Lading, is perfecting arrangements to obtain from American
surety companies guaranties on all bills of lading which he
may purchase, the premium to be paid by him instead of by
exacted
on
all bills issued after Dec. 31.
Sir Edward H.
he American cottonTnerchant
or
American bank
handling
The Secretary of the Treasury
him made,
Exchange.
—The Vereinsbank at
be used In any manner by which any Information
196
prospectus or such other evidence as he may deem proper to establish the
fact that the stock of such corporation Is offered for general public sale.
office of the Commissioner of Internal
shall any Collector or any other
officer outside of the Treasury Department In Washington
Returns can be seen only In the
Revenue in
'
Washington, D. C.
Internal revenue
In
no case
1488
THE CHRONICLE
permit to be
seen any return or furnish any Information whatsoever relative
return or any Information secured by him In his official capacity
relating to such return.
to
any
No provision Is made in the law for
furnishing a copy of any return to
any person, and no copy of any return will be furnished except to the cor¬
poration making the return or Its duly constituted attorney.
The provisions herein contained shall be effective on and after the 25th
day of November 1910.
(Signed) FRANKLIN MAC VEAGH, Secretary of the Treasury.
The White House, Nov. 25 1910.
Approved:
(Signed) WM. H. TAFT.
—The report
of the delegates representing the New York
Chamber of Commerce at the National Monetary Conference
held under the auspices of the Academy of Political
on Nov. 11 and 12 was made to the Chamber at its
Science
regular
monthly meeting on Thursday. The report was presented
by Maurice L. Muhleman, who, with Joseph French Johnson
and Sereno S. Pratt, attended the conference as the Cham¬
ber’s representatives.
In the report reference was made to
the fact that the Chamber has several times voiced its
ap¬
proval of a central bank, the last occasion being in 1906,
when it accepted a report of a special committee recommend¬
ing the establishment of such an organization. Mr. Muhleman’s report, which was formally approved by the Chamber,
likewise contained the following comments with regard to
the recent conference:
It Is gratifying to report that there was a decided
preponderance of opinion
favorable to the plan for a central bank like that which the Chamber
pre¬
sented to the public with Its endorsement In November 1906.
There can be no question that the conference has given a
powerful Im¬
petus to the movement for comprehensive reform upon the lines Indicated.
It remains, however, to keep this movement alive, to give
support to the
National Monetary Commission, and to bring public
opinion to a point
where such support may be created In Congress.
A recommendation
as
follows
was
also made in the
report:
We urge renewed action by the Chamber at this time for the Improvement
of American currency and banking, under some
plan which shall build
upon
present system of Individual banks, without depriving them of their
independence; a central regulating system, In the management of which
our
they shall be adequately represented, and which shall serve, as the great
central banks of Europe do, to assure
stability to credit and security to
[VOL
LXXXXI
—According to press dispatches of yesterday, Willard D.
Straight has submitted to the Chinese Government new
terms for the
proposed $50,000,000 loan, suggesting partici¬
pation of European bankers. This was not a part of the
original arrangement, but it was announced several weeks
ago that negotiations had been consummated whereby the
loan would be handled
jointly by American, British, German
and French
banking interests. The announcements yes¬
terday said:
In asking the consent of the
Government to making the loan an Inter¬
national rather than a distinctly American
enterprise, Mr. Straight em¬
phasizes the advantages to China which he thought would accrue.
He
said that the Americans were
ready to conclude the agreement upon the
original terms. If this was Insisted upon by the Chinese, but he
pointed out
the political Importance to China of
permitting other nations to participate.
—Charles H. Imhoff, a Vice-President of the Chatham
National Bank of this city since
April 1908, has been elected
Vice-President
a
of the Mercantile National Bank.
—The announcement
Stock Exchange that
on
Thursday by the New York
George H. Robinson had been rein¬
stated to
membership marks the satisfactory termination
of the trying difficulties
through which the banking firm
of Fisk & Robinson has
passed during the past ten months.
It was hoped from the
beginning that the trouble was only
temporary, and this week’s announcement confirms these
anticipations. The new firm of Fisk & Robinson will have
in its composition, in addition to
Harvey E. Fisk and George
H. Robinson, the former
partners, Thomas G. Cook, who
was connected with the old firm for a number
of years.
The firm has taken new offices on the third floor of the
Farm¬
ers’ Loan & Trust Co.
Building, 26 Exchange Place, and
will open for business on
Thursday morning next, Dec. 8.
It is understood that it will continue to make a
specialty
of United States Government
bonds, and will also deal in
municipal, railroad and other high-grade investment
se¬
curities.
business.
At this week’s meeting of the Chamber the
following were
named as delegates to the
monetary conference which will
take
place at the annual meeting of the National Board of
Washington on Jan. 17 and IS: Paul M.
Warburg, Welding Ring, A. S. Frissell, Samuel Sachs and
Trade to be held in
Maurice L. Muhleman.
Cornelius N. Bliss was elected
Chamber to serve until May 1914.
a
Vice-President of the
—A proposition embodying the central-bank idea was
given
consideration by the Philadelphia Board of Trade at
meetings
held this week and last.
The plan under discussion was
pro¬
posed in
a
bank.”
The
question
came
report of Edward R. Wood, who advocated the
establishment of a Bank of the United States, whose
capital
should be subscribed only by national banks and trust com¬
panies, and to be “organized to do a deposit and discount
business with the banks and tfust
companies, and to issue
circulating notes secured by gold and by a short-termed
paper representing actual commercial transactions up to
not to exceed 66% of all
outstanding circulating notes of the
opinion
was
Philadelphia “Press”
states
that
when
the
for final consideration on Monday last
divided as to the advisability of
recommending
up
the establishment of such
a
bank.
A resolution
adopted under which the Board
was
finally
will submit the plan for
consideration to the National Board of Trade at its
coming
annual meeting in Washington, “without
intending to
ex¬
press its approval of the formation of a central bank.”
In
full the resolution says:
Resolved, That the Philadelphia Board of Trade believes the
following
project for
for such
Central Bank of the United States contains features
essential
Institution, and for that reason only offers it for consideration
a
an
by the National Board of Trade without Intending to
of the formation of
a
central bank.
express Its approval
Charles S. CalwCll, President of the Corn
Exchange Na¬
tional Bank of Philadelphia, in a letter read at the
meeting,
had the following to say with
regard to the central-bank
proposition:
Philadelphia held
on Nov. 10 this year $100,548,000 due to
banks, and If
bank Is established the writer feels that this
amount will
be cut In half and $50,000,000 of
deposits will be drawn from the banks in
Philadelphia. Suppose our estimate Is wrong, and only $25,000,000 be
withdrawn.
This will be a serious blow to the business
community, as it
would reduce the lending power of the banks
to 75% of this amount.
The writer does not want to be put on record as
being opposed to every
form of a central bank, but feels that trade
bodies such as yours will have
a large Influence In shaping
legislation; and so long as the plan is not defi¬
nite we feel that action should be
delayed.
the central
reserve
—Robert O.
Bailey has accepted the offer to become
Secretary of the United States Treasury to succeed
Charles D. Hilles, whose
resignation will take effect in March.
Mr. Bailey is at present
Secretary to Franklin MacVeagh,
Secretary of the U. S. Treasury.
Assistant
—Richard T.
Wilson, founder of the New York Stock
Exchange firm of R. T. Wilson & Co., died on Nov. 26 at
his residence in this city.
Up to the time several years ago
when Mr. Wilson withdrew from active
participation in
business, he had long taken a prominent part in banking
and railroad affairs.
His firm has also been’ important as
cotton brokers, and he still retained at his death a
place on
the directorate of the American Cotton Oil
Co., the Castner
Electrolytic Alkali Company, the Mathieson Alkali Works,
the
Fourth
National
Bank
and
the
Manhattan
Trust
Company.
Mr. Wilson was born in Georgia in 1829.
One of his early and successful business ventures was as a
trader in cotton, this having been undertaken in a
village
near Knoxville.
With the opening of the Civil War he en¬
tered the Confederate Army, and was later sent to
Europe
as the fiscal agent of the Confederate
Government. Upon
his return to this country in 1866 be located in New
York,
and the establishment of the banking firm which bears his
name followed.
The firm was founded originally under the
name of Wilson,
Galloway & Co., but this was shortly after
superseded by the present title.
—William N. Coler Jr., for a time head of the
banking
house of W. N. Coler & Co., of this city, died at his home at
Summit, N. J., on Nov. 29. Mr. Coler became head of the
firm in 1888 with the retirement of his father,
by whom it
was established.
He continued to direct its affairs until 1897,
when he retired, being succeeded by his
brother, Bird S.
Coler, formerly President of the Borough of Brooklyn.
The late Mr. Coler was fiftj^-two years of
age.
He was a
trustee of the Fidelity Trust Co. of Newark and the Summit
Trust Co.
—The United States
Mortgage & Trust Co. has brought
out its 1910 number of that most useful of
treatises, “Trust
Companies of the United States,” which it has presented
annually since 1903.
The publication furnishes in compact
form statistics bearing on every institution in the United
States having the word “trust” in its title; besides the latest
statements of assets and liabilities of each separate institu¬
tion (in the present instance of date June 30 1910). a list of
the
officers, directors and correspondents is shown, together
dividend rates, stock quotations, &c.
The work is
both compiled and published by the trust company.
—Judge Lacombe of the United States Circuit Court
signed an order on the 26th ult. ratifying and approving
the accounts presented in the final report, just filed, of John
W. McKinnon, shareholders’ agent of the New Amsterdam
National Bank of this city.
In a report submitted to and
approved by the Court in September, Mr. McKinnon showed
the liquidation of assets of a book value of $1,056,274, of
with
Deo. 3 lino. \
THE CHRONICLE
which he had then
The
$84,202.
the bank.
paid out $972,072, leaving a balance of
Mr. McKinnon was allowed to retain $25,000 of
this for his compensation, and about $60,000 was applied
in the payment of a final dividend to the shareholders.
In
all the stockholders have received 45.92%.
The bank,
which failed on Jan. 27 1908, had a capital of $1,000,090
and surplus of $200,000.
Full return was made to the de¬
positors, with interest at 6%, the filial distribution to them
having occurred in February 1909.
—Since
Sept. 1 the deposits of the First National Bank
of Jersey City have increased from $7,069,270 to $8,658,SOS
—on Nov. 10 last.
Aggregate resources are now reported at
$10,696,995, as against $9,107,418 on Sept. 1 1910. The in¬
stitution has a capital of $400,000, a surplus of $800,000
and undivided
profits of $463,9S3, the combined surplus and
profits thus being over three times as great as the capital
stock.
George T. Smith is President, R. E. Jennings, VicePresident, and Edward I. Edwards, Cashier.
—In accordance with his decision to
relinquish all private
entering upon his duties as State
Governor, John A. Dix this week resigned as a Vice-President
and director of the First National Bank Of Albany.
It is
understood that he has likewise resigned from the board of
business relations before
the Glens Falls Trust Co. and that he will withdraw from
the directorate of the Albany Trust Co. and as a member of
the executive committee of that
company.
—Charles J. Knapp, formerly President of the failed
Binghamton Trust Co. of Binghamton, N. Y., and also for¬
merly connected with the private banking firm of Knapp
Brothers, of Deposit, N. Y., was acquitted on the 25th ult.
of the charge of having received a
deposit in the private
bank
when
the
institution
was
known
to
be
insolvent.
Mr.
Knapp had been indicted on the charge in Oct. 1909,
jointlyr with Charles P. Knapp, his nephew. The latter was
tried in June and sentenced to not less than fifteen months
nor more than two years.
The conclusions of the jury in
the
of
Charles J.
Knapp were in accordance with
Supreme Court Justice Gladding, who
directed them to bring in a verdict of acquittal on motion
of the attorney for the defendant.
The suspension of Knapp
case
the instructions of
Brothers' bank and the Binghamton Trust Co. occurred in
April 1909.
—The
People’s Safe Deposit & Savings Bank of Bath, Me.,
on the 23th ult. under an injunction issued
by
Associate Justice Savage of the State Supreme Court, on
petition of State Bank Examiner Skelton. A hearing on the
petition is to be had on Dec. 27, tlie bank being restrained
meanwhile from transacting business other than
collecting
Mr. Skelton is said to have explained that
moneys due it.
was
closed
the action is not due to lack of confidence in the institution
or its officers, but
grows out of the fact that the bank has
not made any
gain in deposits for some time; that there is
strong competition in the vicinity for business, and the in¬
stitution was not on a firm enough basis to compete with the
other banks.
In its last report to the Banking Department
the institution’s liabilities were given as $S70,419,
with de¬
posits of $842,787. The bank was established in 1862.
—The
Logan Trust Co. of Philadelphia, which began busi¬
1906, will pay its first dividend to stock¬
holders on the 15th inst.
The initial disbursement is 2%.
The company has a capital of $500,000.
—The newly organized North Penn Bank of
Philadelphia
commenced business on Monday in temporary quarters at
2243 North 29th Street.
The bank has a capital of $50,000,
and the officials are Louis II. Michel, President; Charles E.
Starr and Joseph Schlenz, Vice-Presidents, and R. D.
Moyer, Cashier.
ness
in December
—With
a
view to the consolidation of the Third National
Bank of Baltimore and the National
Bank of
Baltimore,
offer of $150 per share has been made for the stock of the
latter by Middendorf, Williams & Co.
The firm, it is stated,
an
is
acting for the Third National, in which it holds
a large
paid-in
capital of $1,210,700, surplus and profits of about $500,000
and deposits in the neighborhood of $2,370,000.
The Third
National has $500,000 capital, surplus and profits of $166,182
and deposits of $3,267,758.
—A court injunction issued by Judge Tuthill of the Chi¬
cago Circuit Court on the 21st ult. has prevented the direc¬
tors of the failed Chicago National Bank from presenting to
the stockholders a proposition made by Director C. K. G.
Billings to settle for $15S,125 suits in which it is sought to
hold him liable to the extent, it is reported, of $3,500,000.
interest.
The National
Bank of
Baltimore has
a
1489
offer, it is said, is opposed by minority stockholders of
—Simeon
P.
Gillett, former President of the Citizens’
National Bank of Evansville, Ind., killed himself on the
26th ult.
It is stated that he
shortly to have been tried
against him in the spring, and said
charge misapplication of the bank’s funds. Capt. Gillett
on an
to
was
indictment returned
President of the institution when it closed its doors
Jan. 17 last; its reorganization was effected, and it
was
on
re-opened
presidency of Allen Gray. It was re¬
ported some months ago that ex-President Gillett had turned
over all his
property to the institution. He had been con¬
nected with the institution for nearly forty years.
—Chicago’s newest banking institution, the People’s Trust
& Savings Bank, opened its doors for business on the 1st inst.
This bank is closely affiliated with the People’s Gas
Light &
Coke Co. and occupies the ground floor corner offices in the
magnificent new four-million-dollar building of that com¬
With $500,000 paid-up capital and $103,000 surplus,
pany.
and such men among its directors as George M. Reynolds,
Presidentof the Continental & Commercial Nat. Bank; Charles
G. Dawes, President Central Trust Co. of Illinois; James F.
Meagher, Vice-President People’s Gas Light & Coke Co.;
W. Irving Osborne, President Continental & Commercial
Trust & Savings Bank; J. Kruttschnitt, Vice-President
Southern Pacific Ry., and S. M. Felton, President Great
Western RR., this bank should command a good business
from the start, and it bids fair speedily to become one of the
prominent financial institutions of Chicago. C. H. Bosworth, ex-National and State Bank Examiner, is President.
On the opening day the beautiful banking room was em¬
bowered in American beauties and chrysanthemums and
filled with the well-wishing friends of the enterprise.
Jan. 31 under the
on
—We
informed by President W. H. Winants of the
Mercantile Bank of Kansas City, Mo., that liis bank is not
to be taken over by the new American Trust Co. of that
city,
as
are
has been
reported in
one
of the
papers
of that city.
—August Ropke, formerly Assistant Secretary of the
Fidelity Trust Co. of Louisville, Ky., pleaded guilty on the
29th ult. to five of the sixteen counts in the indictments
against him and was sentenced to from eight to eighteen
years’ imprisonment. The accused was arrested last July
on the specific
charge of misapplying $6,070 of the com¬
pany’s moneys. It later developed, however, that the mis¬
appropriations amounted to $1,400,000, and the company’s
capital has since been increased from $1,000,000 to $2,000,000 to cover the shortage.
—Since
taking possession of its handsome new bank
building, to which reference has been made in these columns
several times, the business of the Norfolk National Bank
of Norfolk, Va., has rapidly increased.
The statement pub¬
lished for Nov. 10 shows deposits of $4,477,727, against
$3,840,990 om Sept. 1 1910. This institution, of which
Caldwell Hardy, the well-known banker, is the head, has
a capital of $1,000,000,
surplus and profits of $682,097 and
resources of $7,149,522.
Associated wdth Mr. Hardy in the
management of the bank are E. T. Lamb and A. B. Schwarz¬
kopf, Vice-Presidents, and W. A. Godwin, Cashier.
—Norfolk’s
new
bank, the Virginia National, began busi¬
the 16th
ult., starting with a capital of $500,000 and
a
surplus of $100,000. The institution has been formed by
interests in the Virginia Bank & Trust Co. of Norfolk, and
ness on
the
same
takes
officers direct the affairs of both.
over
The
new
bank
the commercial business of the trust company,
the latter
confining its attention to savings, trusts, estates
identical
Hunter,
President; John L. Roper and William C. Whittle, VicePresidents; Hugh G. Whitehead, Cashier, and Washington
Reed, Assistant Cashier. The trust company was estab¬
lished in 1902 with $100,000 capital and was at first known
as the Virginia Savings
Bank & Trust Co.; in 1906 it increased
its capital to $200,000 and changed its name to the Virginia
Bank & Trust Co., Inc.
In 1907 the capital was raised to
$600,000, and in August of the present year, when the move¬
ment to organize the national bank was under way, the
company’s capital was reduced to $100,000.
and bond features.
The management of the bank,
with that of the trust company, consists of James W.
—Deposits of the First National Bank of Birmingham, of
Harding is President, show a further in¬
crease in volume, being reported in the Nov. 1910
report at
$9,435,769, against $8,726,909 on Sept. 1 1910. Resources
aggregate $12,523,404.
which W. P. G.
1490
THE CHRONICLE
—Thomas H.
Langham has been elected
a
Vice-President
of the Gulf National Bank of Beaumont, Tex., succeeding
W. B. Dunlap, who recently became President of the bank.
P. D. Mahon has been made
an
Montreal
under the call of Nov. 10, covered a
period of but thirty-six
days of operation, the opening of the institution having oc¬
curred on Oct. 5.
In this report the institution shows de¬
posits of $230,300 and total resources of $441,321, with com¬
bined capital and surplus of $211,022.
The authorized
capital of $200,000 is in shares of $100 each, and we are ad¬
vised that the stock was largely oversubscribed at $120 per
share.
The President of the bank is W. G. Conrad, also
President of the Conrad Banking Co. of Great Falls, the
Kalispell, the First State Bank
Livingston and the Pondera Valley State Bank of Conrad.
The other officials of the Conrad Trust & Savings Bank are
J. Henry Longmaid, Vice-President; P. B. Bartley, Cashier;
China R. Clarke, Assistant Cashier, and Arthur D. Prouty,
Secretary.
—A Federal bank has been organized in Deer Lodge, Mont.,
under the name of the United States National Bank, with a
paid-up capital of $50,000. The President of the institution
is Joseph Whitworth, head of the Bonner Mercantile & Reai
Estate interests in Deer Lodge.
C. J. Kading is VicePresident and Arthur J. Lochrie, formerly Cashier of the
Drummond State Bank, is Cashier.
The bank will have
thirty-five stockholders and twelve directors. There is but
one other bank in the
town, a private institution, and it is
stated that the prospects for a successful future for the new
institution are particularly good.
—An increase has been made in the capital of both
the
First National Bank of Los Angeles and the Los Angeles
Trust & Savings Bank, allied institutions, both having been
raised from $1,250,000 to $1,500,000.
The facts in the mat¬
ter have been furnished to us in the
following letter, which
of
have received from Stoddard Jess. Vice-President of the
First National:
we
Los
Angeles, Cal., November 22 1910.
York City.
Gentlemen-.—
•
reply to your favor of Nov. 11, making inquiry in regard to the in¬
crease of the capital stock of this bank, I would
say that in May of the pres¬
ent year the stockholders of the bank entered into a tentative
agreement to
increase the capital of the bank from $1,250,000 to
$1,500,000, and agreed
each with the other to subscribe for the number of shares of the increase
of
the capital stock on a pro rata basis at the
price of $450 per share, under
the following terms and conditions:
That out of the purchase price of the stock the sum of $100
per share
be carried to the capital account of the Bank,
$150 per share to the undi¬
vided profits and $200 per share to be used in
purchasing 2,500 shares of
the stock of the Los Angeles Trust & Savings Bank, to be held
by the trustees
now holding the entire stock of the Los
Angeles Trust & Savings Bank
for the stockholders of the First National Bank.
At a stockholders’ meeting held Sept. 25, the tentative
agreement for
the increase of the stock was legalized and the stock has
now been issued.
The capital of the First National Bank now stands at
$1,500,000 and
the surplus and undivided profits amount to
$2,194,661 56.
The capital stock of the Los Angeles Trust &
Savings Bank is
increased
$1,500,000, with surplus and undivided profits of $913,251 46.
The
stock of the Trust & Savings Bank is all held
by trustees for the stock¬
holders of the First National Bank—each share of stock
of the First Na¬
tional Bank carrying with it a share of stock in the
This leaves
Savings Bank.
the book value
of
the First
National Bank,
course, the assets of the Savings Bank, $407 20 per share.
Yours very truly,
STODDARD JESS,
Canadian Bank
Cilgary
Hamilton.
Canada—
Montreal
Toronto
_
Winnipeg.-
.
-
..
Vancouver
Ottawa
Quebec
Halifax
Calgary
Hamilton
St. John
Victoria
London
Edmonton
Regina*
Brandon
Lethbridge
Saskatoon
...
1909.
Inc. or
Dec.
1910.
S
S
%
S
*
1909.
Inc. or
Dec.
§
%
191,937,442 193,152,623 —0.6 1,908,601,288
1,669,912,108
155,413,459 141,014,400 + 10.2 1,439,815,839 1,297,193,846 + 14.2
+ 11.0
126,717,720 116,589,351 + 8.7
852,272,613
675,171,910 + 26.2
43,041,230 32,572,215 + 32.1
402,257,937
256,390,228 + 56.9
17,299,162 15,999,380 + 8.1
177,752,033
157,603,244 + 12.8
12,281,292 11,418,478 + 7.5
111,515,763
106,408,639 + 4.8
7,384,639
9,089,033 —25.4
88,521,798
86,827,366 + 2.0
15,817,010 11,511,168 + 37.4
135,121,140
86,255,567 + 56.7
10,0 <8 849
8,516,470 + 18.0
91,647,975
76,387,982 + 2 ).0
7,022,296
6,912,866 + 1.6
71,089,198
65,396,560 + 8.7
10,386,173
7,200,485 + 44.2
91,383,004
62,596,303 + 46.0
5,709,654
5,453,583 + 4.7
60,546,416
56,192,020 + 7.8
8,022,620
5,422,818 + 47.9
63,347,332
46,197,975 + 37.1
6,375,370
5,168,380 + 23.4
44,918,850
8,938,274
3,297,877 Not incl. In total
19,502,336 Not incl. in t otal
2,821,760 Not incl. in total
6,768,145 Not incl. in t otal
4,815,249 Not incl. in total
4,815,249 Not incl. in t otal
Total Canada 611,111,576 564,832,870
+ 8 2 5,493,872,329 4,642,533,748 + 00.0
Not included in total; comparison incomplete.
The
clearings for the week ending Nov. 26 make quite a
satisfactory comparison with the same week of 1909, the
increase in the aggregate
having been 10.0%.
..
.
.
Victoria
London
Edmonton
Regina
Brandon
.
.
.
.
Lethbridge
Saskatoon
Total
%
1,858,128
2,415,214
1,867,700
1,448,519
—
.
Canada.
138,760.883
1.6
+ 54.1
+ 20.7
+ 13.9
+ 31.3
+ 0.2
+ 51.5
126,094,476
S
.32,990,957
27,338,080
21,546,368
4,087,003
3,511,147
2,197,707
1,699,070
1,837,478
1,397,205
1,289,618
1,193,396
1,019,641
+ 22.4
+ 11.6
+ 22.9
+ 14.5
+ 3.6
2,490,887
1907.
S
—5.4
2,430,04.3
1,851,091
1,213,019
1,210.466
1,689,289
1,093,401
1,325,768
1,197,145 -|-10.7
746,703 Not included in total
Not
included in total
560,663
1,466,097 Not included in total
.
+ 10.0
878,678
29,095,098
22,000,000
15,064,440
3.538,382
2,861,524
2,337,630
1,785,678
1,335,459
1,479,310
1,232,387
1,004,635
1.031,355
877,629
100.986.34S
83,673,533
Clearings by Telegraph—Sales of Stocks, Bonds, &c.—
subjoined table, covering clearings for the current week,
The
usually appears on the first page of each issue, but on account
of the length of the other tables is crowded out once a month.
The figures are received by
telegraph from other leading cities.
Clearings—Returns by Telegraph.
Week ending Dec. 3.
New York
Boston
.
...
t
.
.
...
.
Philadelphia
Baltimore
Chicago
St. Lonis.
New Orleans
..
Seven cities, five days
Other cities, five days
Totalfall cities, five days.
All
cities,
one dav
-
Total all cltles’for week
Southern
Per
Cent.
1910.
1909.
$1,629,821,826
138,561,628
137,240,326
28,923,400
249,751,608
68,809,063
22,316,681
§1,977,052,801
152,114,627
149,200,684
30.154,177
251,110,153
67,537,770
19,740,984
—17.9
—8.9
§2,325,424,532
535,917,604
§2,646,911,196
501.079,863
—12.9
§2,861,342,136
564,017.209
§3,147,991,059
592,906,977
—9.1
—4.9
1S3.425,359.345
§3,740,$98,036
Clearings brought forward from first
November.
—8.0
—4.1
—0.5
+ 1.9
+ 13.0
+ 6.9
—
8.4
page.
Eleven Months.
Clearings at—
1910.
1909.
"
S
8
St. Louis
130,359,542 317,774,984
New Orleans-. 99,705,119 100,158,027
Louisville
57,182,123 56,341,060
Houston
62,287,220 57,291,519
Galveston
42,457,500 34,601.000
.
..
Fort Worth...
Richmond
Atlanta
Savannah
Nashville .-.
Norfolk
.
Birmingham
..
Augusta
Jacksonville
Knoxville
Little Rock...
..
Chattanooga..
Charleston
Mobile
Oklahoma
Macon
Columbia.
...
Austin
Beaumont
Wilming’n.N.C.
Columbus, Ga.
Vicksburg
Guthrie
Valdosta
Jackson, Miss.
•
Me-idian*
48,678,46-'
37,080,895
30,465,933
66,345,271
33,378,775
18,373,200
16,611,461
12,664,260
15,912,147
11,2S5,030
7,214,492
11,616,779
8,800,000
11,351,812
6,964,427
11,784,401
6.207,690
5,054,026
6,019,508
2,635,052
4,052,553
2,242,983
1,978.646
1,756,347
1,100,000
2,543.146
1,800,0(0
34,498,741
36,840,002
34,157,625
55,638,405
25,030.763
15,630,038
15,107,457
11,276,481
13,765,704
8,432,357
7,776,770
9,254,432
7,706,362
9,441,523
6,428,951
10,676,095
5,402,909
4,328,076
4,642,196
2,635,446
2,801,386
1,913,257
2,100,476
1,800,264
1,036,854
2,393,386
1,524,788
Inc. or
Dec.
Ire. or
D(C.
*
1910.
1909.
%
§
s
+ 4.0 },.390,162,156 J,119,170,916
—0.5
878,917,64!
796,778,509
+ 1.5
614,738,646
585,720,206
+ 8.7
013.295,247
583,488,864
+ 22.7
340,919,506
203,246,000
+ 41.1
293,019,026
254,544,447
+ 0. /
307,500,40’
303,237,858
-—10.8
342,302.007
323,576,786
+ 19.2
505,158,366
344,688,898
+ 33.4
236,643,423
213,575,195
+ 17.5
185,611,0621 173,997,707
+ 10.0
141,95.3.4671 132,130,055
+ 12.3
118,514,864
102,305,993
112,158,024
77,825,899
81,852,194
82,351,: 62
81,740,519
67,913,557
112,502,758
49,300,617
41,429,551
72,932,413
28,915,15*
27,417,861
17,912,221
14,511,563
15,378,672
7,943,65
22,657,684
15,536,60)
+ 15.6
+ 33.8
—7.2
+ 25.5
+ 14.2
+ 20.2
+ 8.3
+ 10.4
+ 14.9
+ 16.8
+ 42.6
—0.0
+ 44.7
+ 17.2
—5.8
—2.4
+ 6.2
+ 6.3
+ 38 1
Total South. 974,705,902 896,882,534
%
+ 8.7
+ 10.3
+ 4.9
+ 5.1
+ 14.3
+ 15.1
+ 14
+ 5.8
+ 46.6
+ 10.8
+ 6.7
+ 7.4
+ 22.8
+ 7.2
96,549,099
9 >,404,822
82,442,884 + 36.0
73.517.168
+ 5.9
78,313,762
+ 4.5
69.218 472 + 19.0
70,311,709 + 16.3
63,088,916
+ 7.6
83,650,105 + 34.7
42,550,469 + 15.9
35,011,099 + 18.3
34,642,396 + 110.5
28.879,726
+ .01
19,813,503 + 38.4
I6.7S0.289
+ 6.7
14,363,25]
+ 1.0
14,900,702
+ 3.2
7,029,193 + 13.0
18,466,89' + 22.7
8,583,121
+ 8 7i8,985,836,511 8,074,089,S92
+ 11 3
1
Vice-President.
Eleven Months.
1910.
2,580,410
1,828,520
3,722,447
2,254,197
1,649,480
.
1908
*Not Included for month and eleven months; comparison Incomplete.
Clearings.—The clearings of the Canadian
Clearings at—
10,075,370
4,120,00-!
.
St. John
S
44,125,931
29,360,842
25,304,233
8,200,36,3
3,580,553
including, of
banks for the month of November 1910 show an
increase over
the same month of 1909 of 8.2%, and for the eleven
months
the gain reaches 18.4%.
November'.
.
Vancouver
Ottawa
Quebec
Halifax
Memphis
1
In
to
s
.
Inc. or
Dec.
1909.
41,746,105
35,932,920
28,193,311
..
..
Winnipeg
Conrad National Bank of
Wm. B. Dana Co.,
P. O. Box 958, New
at—
1910.
Toronto
LXXXM
Week endin'/ November 26.
Clearings
Canada—
Assistant Cashier.
—The initial statement of the Conrad Trust & Savings
Bank of Helena, Mont., made to the Banking Department
Messrs.
[VOL.
Week ending November 26.
Clearings at—
St. Louis
New Orleans
Louisville
Houston
Galveston
Savannah
Nashville
Norfolk
S
S
13.234,063
8,029,000
9,851,965
7,759,854
5,934,041
..
.
Birmingham
Augusta
Jacksonville
Knoxville
Little Rock
Chattanooga
...
Charleston
Mobile
Oklahoma
Macon
Columbia
Austin
Beaumont
Wilmington,N.C.
Columbus, Ga._.
Vicksburg
Guthrie
1909.
68,626,967
22,085,938
11,657,933
Memphis
Fort Worth
Richmond
Atlanta
1910.
13,000,000
7,061,694
3,409,137
3,217,231
2,748,925
2,576,568
2,291,898
1,600,000
2,317,549
1,750,000
2,253,642
1,464,490
2,300,000
1,200,000
60,221,838
19.511,985
11,986,715
12,800,000
7,435,000
6,319,942
7,799,253
7,154,626
10,327,105
3,939,342
2,298,403
2,730,424
2,334,136
2,554,801
1,641,226
1,562,821
1,768,553
1,309,894
1,666,388
1,315,783
1,923,139
950,000
Inc. or
Dec.
1908.
1907.
% '
+ 14.0
+ 13.0
—2.7
+ 3.9
+ 8.0
+ 55.9
—0.5
—17.1
+ 25 9
+ 79.3
+ '8 3
+ 17.8
+ 17.7
+ 0.9
+ 39.6
+ 2.4
+ 31.0
+ 33.7
+ 35.2
+ 11.3
+ 19.6
+ 26.3
§
53,426.177
2,380,776
2,168,124
1,952,784
1,326,286
1,287,302
1,692,232
1,206,548
1,732,182
1,283,619
1,234,258
755,927
14,761,980
17,734,527
7,297,899
7,889,795
5,228,500
4,909,302
3,700,000
5,740,167
3,942,310
5.255,950
2,726,328
1,996,201
1,767,409
1,454,294
969,187
1,208,253
1,020,477
950,000
1,250,000
1,194,476
459,362
557,430
629,828
391,462
450,000
650,000
386,437
500,000
18,163,971
10,104,618
13,068,547
7,335,000
6,999,208
6,091,573
6,074,853
5,151,428
4.217.133
2,409,476
1,370,296
865,251
460.000
449,580
789,712
490,767
+ 58.4
+ 2.3
+ 60.9
478,869
380,873
+
26.6
480,474
375.000
350 000
429,000
309,585
—12.6
+ 13 1
375,000
198,255,712
172,506,430
+ 14.9
152,988,786
§
*
..
Valdosta
Jackson
Meridian
Total Southern
126,405,284
Deo. 3
THE CHRONICLE
1910.]
1491
Our usual monthly
detailed statement of transactions on
Exchange is appended. The results
months of 1910 and 1909 are given below:
the New York Stock
for the eleven
English Financial Markets—Per Gable.
Eleven Months 1910.
Eleven Months 1909.
The
daily closing quotations for securities, &c.. at London,
reported by cable, have been as follows the past week:
Descrip¬
tion.
Par Value
or
Actual
Value.
Quantity.
Aver.
Price.
Par Value
Actual
Value.
Quantity.
or
Aver.
Price.
154,327,821
197,072,179
StocklSh’s.
jVal_ $13865,422,975 $13415,061,621 96.7 $18040,979,750 $17551,929,338 97.3
RR. bonds
525,936,636 97.0 $1,169,121,600 51,137,911,915 97.3
542,450,200
Govt. bds.
$351,700
$375,484 106.8
$610,200
$668,963 109.6
State bds
$39,628,899 99.7
$35,134,200
$34,874,643 99.3
$39,733,950
Bank st’lcs
$2,478,983 212.6
$178,450
$1,165,800
$499,054 279.9
-.
96.8 $19246,024,200 518725,883,913
$14149,124,625 $13983,481,623
Total
The
volume of
transactions
97.3
in share
properties on the
New York Stock Exchange each month since Jan. 1 in 1910
and 1909 is indicated in the following:
SALES OF STOCK AT THE NEW YORK STOCK EXCHANGE.
1910.
M’th
Number
1909.
Values.
Number
of
Values.
of
Shares.
Par.
Actual.
%
s
Shares.
Par.
Actual.
$
$
Jan 24,538.649 2,255,816,775 2,236.641.564 17,275,500 1,609,551,575 1,550,409,801
Feb 16,012,626 1,423,073,275 1,407,743,928 12,337,199 1,142,192,700 1,082,075,181
Mch. 14,988.179 1,336.803,725 1.327.476.419 13,650,595 1,240,583.900 1,175,469,766
.
.
lstqr 55,539,454 5,015,693,775 4,971,861,911
43,263.294|3,992,328.175
3,807.954,748
April 14,089,639 1,279,487,675 1,256,488,974 19,05^,618 1.719.193,800 1,647,943,217
May 11,918,978 1,055,491,350 1,004,681,480 16,495,23011,478.017.600 1.410.748.614
June 16.292.870 1.452.455,025 1,385.474.622 20.322.2301.882.256.850 1.815.478.974
2d qr 42.301.487 3.787.434,050 3.646.645.076 55,873.078
-
-
5.079.468.250|4.874,171.101
6 m’s 97.840.941 8,803,127.825 8.618.506,987 99.136,372 9,071.796.425 8.682.125.853
July 14,254.713 1,284,761,925 1,235.461.645 12.806,965 1,191,292,400 1.100,402,461
Aug. 10,392,788 919,409,950 855,016,748 24,637,783 2,267,638,050 2.301,468,294
Sept. 7,673,529 666,140,100 600,999,980 19,981,675 1,771,443,700 1,792,407,611
3d qr 32,321,030 2.870,311,975 2,691.478,376 57,426,423 5,230,374,150 5,194,278,366
9 m’s 130161971 11673,439,800 11309,985,363 156562795
Oct
14302,170,575j13876,404,219
13.452.381 1,228,154,700 1,229,096,411 21,739,5142,041,672,200 2,000,046,207
_
Nov. 10,713,46
963,828,475
875,979,84.
i8,769,870| l ,697,136,97 c
.
The
following compilation
covers
1,675,478,912
the clearings by months
since Jan. 1:
MONTHLY CLEARINGS.
Clearings, Total All.
S
17.143.348.295 14,052.390.538 +22.0
13.111.985,258 11.260.311.084 + 16.4
15.021.382.183 12.623.772.489 + 19.0
$
III
•
1
1
•
1
•
%
1910.
1909.
S
$
•
5.894,272,314
4,960,845,197
6.975.198,570
%
5.168,090.843 + 14.0
4,372,605,760 + 13.4
5,136,934,369 + 16.3
1st qr. 45,276,715.736 37,936,474.111 + 19.3 16,830,315,081 14.677.630.972 + 14.7
April. 14,014.994.640 13.692.120.791
13.147,760.447 13,006,573,040
May
+2.3
+ 1.4
June.. 13,811,172,046 14,155.364.270
—2.4
2d qr. 40.973,927.133 40.854.058.101
+ 0.3
6
+9.5 33.291.290.373 29,709,006,700 + 12.1
mos.
88.250.642,869 78.790.532,212
5,673.333.468
5.310.790.8.I0
5.446,850,034
5,077.392,114 + 11.3
4,910,322,648 +8.8
5.043.660,966 +8.0
16.460.975,292 15.031,375.728
+9.5
13,285,479,380 13,469,063,652 —1.4 5,406,812,583 5,149,321,905
3d qr. 11,508,567,694 13,510,914,819 —14.8 5,046,2 9u ,86* 4,824,477,700
11,361,667,620 13,542,069,782 —16.1 5,130,652,674 5,063,692,833
9 mos.
36,155,714,694 40,522,048,253 —10.8 15,583,765,125 15,037,492,448
Oct
+5.9
July.. 122406.357,563 119312,580,465 +2.6 48,875,055,498 44,746,499,148
Aug..
Sept.. 13.787,805,278 15,871,824,528 —13.1 5,883,706,224 5.819,482,990
Nov
13,595 259 237 14,786,082,0,0 —8.1 5,780,965,151 5,722,505,417
+9.2
-
-
The
of bank
course
+4.6
+ 1.3
+3.6
+ 1.1
+ 1.0
clearings at leading cities of the country
for the month of November and since Jan. 1 in each of the
last four years is shown in the subjoined statement:
BANK CLEARINGS AT LEADING CITIES.
New York
1910.
$
7.814
Chicago
1,145
(000,000s
omitted.)
Boston
Philadelphia-St. Louis
Pittsburgh
San Francisco
Baltimore
Cincinnati
Kansas City
Cleveland
New Orleans
-
Minneapolis
.
Louisville
Detroit
Milwaukee
Los Angeles
Providence
Omaha
Buffalo
St. Paul
.
_
.
Indianapolis
Denver
Richmond
.
_
-
_
.
Memphis
Seattle
Hartford
Salt Lake
City---
.
736
643
330
205
204
150
106
228
84
100
125
57
78
58
73
41
66
43
54
38
43
30
49
48
17
31
November
1909.
1908.
$
$
9,064
1,162
8,191
1,020
763
627
318
215
188
141
113
226
82
100
127
56
71
57
712
537
268
168
155
10S
110
175
62
76
106
47
57
49
45
31
50
35
47
34
38
27
29
39
14
28
62
42
63
43
59
38
45
34
34
58
16
33
Jan. 1 to Nov. 301910.
1909.
1908.
$
S
■?
•
1907.
$
5,501
822
579
503
233
212
113
113
90
127
65
80
98
41
56
43
38
28
42
34
43
27
33
27
24
36
13
17
1907
$
89,250
12,738
7,588
7,024
3,390
2,366
2,121
1,473
1,138
2,402
93,682
12,557
7,668
6,275
3,119
2,127
1,786
1,324
1,225
2,172
70,010
10,720
6,618
5,366
2,777
1,882
1,606
1,120
1,116
1,666
81,832
11,273
7,610
6,668
2,919
2,541
2,005
1,369
1,271
1,527
916
879
1,069
615
848
597
737
378
767
461
524
427
451
342
293
539
198
295
794
797
923
586
697
548
606
359
674
425
470
380
425
324
255
531
166
304
682
693
959
516
608
495
453
305
544
375
439
342
369
268
226
388
152
228
833
861
.
1,056
608
657
518
554
362
526
403
439
374
377
295
222
457
172
279
12,596 13,837 12,258
732
999
949
9,038 139,826 141,199 110,921 128,016
642
9,963
8,7? 1
7,095
7,737
Total all
13,595 14,786 12,990
Outside New York. 5,781
5,722
4,799
9,680 149,789 149,970 118,016 136,753
4,179, 60,539 56,288 48,006 5 V 21
Total
Other cities
...
.
9.80132—“The
.
For account
French Rentes (In Paris) .fr.
.
.
Amalgamated Copper Co...
-
.
-
97.42%
71H
8%
.
.
Denver & Rio Grande
34
Preferred
76
Erie
30%
First preferred
49%
Second preferred
38
Illinois Central
138
Louisville & Nashville
150
Missouri Kansas & Texas
35%
Preferred
67%
Nat. RR. of Mex. 1st pref_. 71
Second preferred
37%
N. Y. Central & Hudson Riv.117
N. Y. Ontario & Western
43%
Norfolk & Western
102
92
Preferred
Northern Pacific
120
a Pennsylvania
67%
.
...
...
..
..
_
.
.
Southern Pacific.
Southern Railway
Preferred.
Union Pacific
Preferred
U. S. Steel Corporation
Preferred
Wabash
Preferred..
Extended 4s
a
71%
37
117
44
.
—
Price per share.
102%
92
119%
66%
78
45%
49%
119%
27%
121
27%
.
.182%
95%
82%
121%
181%
95%
80%
121%
17%
.
.
.
.
18
38
67
38
67%
b£ sterling,
c
84%
73%
29
48%
109%
92%
cl95%
85%
23%
126%
31%
74%
29%
48%
36
136
36
137
146%
33%
147%
33%
66
71
37
66
71 %
37
115
43
101
92
116%
43%
117%
66%
76%
45%
49%
118%
26%
180%
92
197%
84
23%
124%
46
37
135
146
33%
65
70
37
114
43
100%
92
119
26%
62
63
cl78%
95
78%
121
17%
36%
66%
30
72%
28%
117%
66%
75%
45%
49%
116%
26%
45%
49%
175%
95
95
c78%
121
17%
36%
66%
23
124%
72%
28%
102
92
66%
92
198%
84%
30
118%
77
63
65
65
.
.
.
35%
68
78%
45%
49%
Reading Co
a First preferred
a Second preferred
108%
23
126
32
.
.
104
108%
24
127
34
38
138
150
.
.
104
200
■
.
104
68%
8%
201%
87%
.
...
104
104
108%
92%
76%
30%
49%
25%
67%
8%
103%
110%
.
Fri.
25%
79 13-16 c79
c79 1380%
97.77% 97.90
67%
8%
102%
104
93
Thurs.
69%
8%
104%
71%
8%
105%
-
Chicago Great Western. 23%
Chicago Milw & St. Paul
-127%
a
Mon.
Tues.
Wed.
25 7-16 25%
25%
79 1-16 79 3-16 79%
79 1-16 79 9-16 80
97.50
97.35
97.75
Sat.
25 7-16
79
79
b Anaconda Copper Co
Atch. Topeka & Santa Fe...-106%
Preferred
■..104
Baltimore & Ohio
-110%
Preferred
93%
Canadian Pacific
.201%
87
Chesapeake & Ohio
76%
120%
16%
35%
66
46
37
135
145%
33
66
71
36%
114
42
100%
92
116%
66%
75%
45%
49%
116%
25%
62
176
95%
76%
120%
17
35
65%
Ex-dividend.
®nmmerci<tl and Ip+stelXattcmts flews
Banks.—The
following information regarding
Comptroller of the
Currency, Treasury Department:
National
Clearings Outside New York.
1909.
London,
Week ending Dec. 2.
Silver, per oz
d.
Consols, new, 2% per cents-
national banks is from the office of the
Month.
1910.
as
APPLICATIONjTO CONVERT/INTO^NATIONAL BANKS RECEIVED.
Banking and Savings Co.,” Kenova, W. Va., Into “The
First National Bank of Kenova.”
Correspondent:
Capital, $40,000.
K. B. Cecil, Kenova, W. Va.
►•’“'The kenova
ISSUEDaTOINATIONAL*;BANKS NOV. 18 TO NOV. 23.
First National Bank of Terra Bella,” Terra Bella, Cal. Capi¬
tal, $25,000.
G. A. Hart, Pres.; Marco H. Heilman, Vlce-Pres.;
CHARTERS
James Crichton, Cashier.
First National Bank of Buena Vista,” Buena Vista, Va.
B. E. Vaughan, Pres.; W. T. Paxton, VlceCapital, $50,000.
Pres.; V. T. Strlckler, Cashier.
(Conversion of “Manufacturers*
and Merchants’ Bank,” Buena Vista, Va.)
First National Bank of Brooksvllle,” Brooksvllle, Fla.** Capi¬
tal, $25,000.
J. B. Norman, Pres.; L. S. Petteway, Vlce-Pres.;
Chas. Monroe Price, Cashier.
(Conversion of The Brooksvllle
Banking Co.)
First National Bank of Antioch,” Antioch, Cal. Capital,
$25,000.
J. L. Harding, Pres.; J. A. West, Vlce-Pres.; Herbert
A. West, Cashier.
First National Bank of Breese,” Breese, Ill.
Capital, $50,000.
F. Schlafly, Pres.;
August Schlafly, Vlce-Pres.; Fred. Krebs,
'3MVV'- Cashier; Leo A. Krebs, Asst. Cashier.
¥9gf -V
LIQUIDATION.
9,167—“The First National Bank of Orosl,”j£Orosi, Cal., was placed in
voluntary liquidation Nov. 10 1910.
7,808—The City National Bank of St. Louis, St. Louis, Mo./was placed In
voluntary liquidation Nov. 14 1910.
9,242—The First National Bank of Carson City, Carson City, Nev., was
placed in voluntary liquidation Nov. 15 1910.
AuctionTSales.—Among other securities, the following, not
regularly dealt in at.the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Stocks.
Slocks.
1,463 United Breweries Co. pref_2%-3%
187% Internat. Salt Co
4%
10
16
10
200
10
100
52
500
10
10
25
100
2,375
2,250
750
25
144
4
Amer. Chicle Co. common
225
Lawyers’ Mortgage Co
243%
Lawyers' Title Ins.&Tr. Co.-253
Amer. Nickel Co, $10 each-$ll lot
Union Typewriter Co. com.. 50%
Royal Bak’g Pow.Co. com, 181-185
Standard Cordage Co
$3
Federal Oil Co., $1 each
$12
Carnegie Trust Co
114
Union Trust Co
1300%
U. S. Mortgage & Trust CO--480
W. B. Oglesby Paper Co
82%
C. C. & Louisv. RR. Co_$l per sh.
Det. Tol. & I. Ry. Co. 1st pf.
5
Det.Tol.&I.Ry.Co.2d pf.Sl per sh.
Internat. Banking Corp
98
Nat. Dep. Bank, Phlla,Pa.$lper sh.
HoltinChemlcalCo.,$10 each,$2 lot
1 The R. T. Booth Co
$3 lot
Bonds.
$246,000 United Breweries Co., Chi.,
6s, 1928
50 & int.-54& int.
$9,000 Internat. Salt Co. 1st cons.
50-yr. 5s, 1951; A. & O
47 & int.
$1,000 Standard Cordage Co. 1st 5s,
1931; April 1910 coupon attached 18%
$600 Standard Cordage Co. adjust.
*■*’
5s, 1931
T 3%
$3,000 Georgia Coast & Piedmont
RR. Co. 1st 5s, 1946; M.&S.67%&int.
$1,000 Chic. Cin. & Louisv. RR. Co.
gen. & ref. 4%s, 1953
10
$15,000 Wilkes-Barre .& Hazleton
RR. Co. coll. tr. term. 5s, 1945-. 80
$5,000 Det. Tol. & Iron. Ry. Co. 5s
coll, trust notes (N.Y.Tr.Co.,ctf.) 4G
$155,000 Det. Tol. & Iron. Ry. Co.
cons. 4%s, 1980
10%
DIVIDENDS.
The
following shows all the dividends announced for the
by large or important corporations:
Dividends announced this week are printed in italics.
future
1493
THE CHRONICLE
DIVIDENDS.
Per
Cent.
Name of Company.
Railroads (Steam).
Albany & Susquehanna, guaranteed
4X
Atlantic Coast Line Co., Conn. (quar.)_.
Atlantic Coast Line UR., common
Boston & Albany (quar.)
Boston & Lowell
Boston <fc Maine, com. (quar.)
Boston Revere Beach & Lynn
Canadian Pacific, com. (quar.) (No. 58).
Common (extra)_
Chesapeake & Ohio (quar.)
Chestnut Hill (quar.).
Chicago cfc North Western, common
2A
3
2X
$4
IX
X
IX
IX
3A
Preferred (quar.)
2
2X
10
2A
2A
2A
2 A
IX
(quar.)
Greene RR. guaranteed
2X
IX
Street and Electric Railways.
American Railways (quar.)
Brooklyn Rapid Transit (quar.)
Continental Pass. Ry., Philadelphia
Duluth-Superior Traction, com. (quar.)..
Preferred (quar.)
Indianapolis Street Ry
_
Massachusetts Electric Cos., pref
New Orleans Railway &
Light, pref
Norfolk Railway & Light
Northern Ohio Tract. & Light (quar.)
St. Joseph Ry., L.H.&P.
pf.(qu.)(No.33>
Sao Paulo Tram., L. & Pow.
(quar.)
Second & Third Streets Pass., Phila
South Side Elevated RR., Chicago
(quar.)..
Twin-City Rap. Tr., Minncap., com.(qu.}
Preferred (quar.)
West Penn Traction, com. (No. 1)
Miscellaneous.
Am.Brake Shoe&Fdy., com.&pref. (qu.V
American Chicle, common
(monthly)
American Express (quar.)
American Radiator, common (quar.)
Am. Sugar Refg., com.&pref. (quar.)
Borden’s Condensed Milk, pref. (quar.)..
Brooklyn Union Gas (quar.) (No. 39)
Buffalo General Electric, com. (qu.) (No.65)
Calumet & Hecla Mining (quar.)
Celluloid Company (quar.)
,
...
,
Extra
Central Leather, preferred (quar.)
Dec.
Dec.
3
5
IX
Jan.
Jan.
1
Jan.
IX
2A
bl
IX
IX
$3
IX
1
3
$2
2A
2A
X
IX
2A
$3
A
IX
IX
1
com.
Extra
1A
1 A
Tan.
Jan.
Jan.
Jan.
3
IX
IX
2
30c.
20c.
IX
2A
3
IX
X
IX
2A
IX
Jec.
Dec.
Jan.
Jan.
Han.
Jan.
Jan.
Tan.
Jan.
Jan.
fan.
Dec.
1
Dec.
Jan.
Jan.
2A
Dec.
5
Dec.
Feb.
3
IX
ix
2
4
IX
110
Subway Realty (quar.)
IX
Swift & Co. (quar.) (No. 97)...
IX
Underwood Typewriter, pref. (quar.)
IX
United Bank Note Corp., pref. (quar.)
IX
U. S. Steel Corp., com. (quar.) (No. 28).
IX
Utah Copper (quar.) (No. 10)
75c.
Van Dyck Estate, common
3
Preferred (quar.)
IX
Ver Planck Estate, common
7X
Preferred
3X
Woman’s Hotel (No. 7)
2X
Yukon Gold (guar.) (No. 6)
10c.
.
fan.
Dec.
...
Preferred
Jec.
bee.
Jan.
Dec.
Dec.
Dec.
Dec.
Dec.
2
...
Standard Gas & Electric, pref. (quar.)
Standard Oil (quar.)
Dec.
Dec.
IX
IX
IX
.
(quar.)
Dec.
fan.
Dec.
Dec.
Jan.
Jan.
Dec.
Michigan State Telephone pref. (quar.)_.
IX
MuskogeeGas & Elec., pref. (guar.).....
IX
National Biscuit, com. (quar.) (No 49)
IX
National L^ad, common (ouar.)
X
Preferred (quar.) (No.76)
IX
National Surety (quar.)
2
Nevada Consolidated Copper (quar.)
37 Ac.
New England Telenh. & Teleg. (ouar.)..
IX
Niles-Bement-Pond, common (quar.)
IX
North American Co. (quar.)
IX
OlilahomaGas & Electric, common (quar.).
2
Onderdonk Estate, common.
5
Preferred
3A
Philadelphia Electric (quar.)
IX
Quaker Oats, com. (quar.).
2
Common (extra).
A
Preferred (quar.)
IX
Quincy Mining (miar.)
$1
Railway Steel-Spring, pref. (quar.)
IX
Realty Associates (No. 16)
3
Republic Iron & Steel, pf. (qu.) (No. 36).
IX
Safety Car Heating & Lighting (quar.)..
2
Extra
San Diego Cons’dGas & Elec., com.
Sears, Roebuck & Co., pref. (quar.)
Standard Coupler, common
Dec.
Jan.
Dec.
Dec.
Jan.
>ec.
Dec.
Dec.
Jan.
Dec.
Jan.
fan.
Dec.
Jan.
Jan.
Feb.
Dec.
Dec.
fan.
Jan.
Dec.
Dec.
Dec.
Tan.
Dec.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Transfer books not closed.
6 Less income tax.
both common and preferred
stocks, payable In
Dec.
1
Holders
Holders
Holders
Holders
Holders
Holders
Jan.
1
Nov. 25
Holders
Holders
Holders
Holders
Dec. 21
Holders
Holders
Dec.
8
31
3
3
15
to
of
rec.
of
of
of
of
of
rec.
rec.
rec.
rec.
rec.
to
to
of rec.
of
of
rec.
rec.
of rec.
to
of rec.
of rec.
to
Dec.
4
Dec. 10a
Nov. 30
Dec.17a
Dec.17a
Dec. 22
Dec. 5a
Jan
15
Nov. 30
Nov.30a
Dec. 15a
Dec.15a
Dec.
5
Jan.
2
Dec. 12a
Dec. 16a
Dec. 15
Dec. 10
IX
MergenthalerLinotype (quar.)
to
lOjDec.
ix
(quar.)(No.22)
rec
Nov.30a
Jan.
1
Dec. la
Dec. 15
Jan.
2
Dec. 20
Nov.25a
Dec. 14a
Dec. 14a
Dec. 10a
Jan.
2
IX
IX
1J^
ix
57
IX
2A
2A
Preferred (quar.) (No. 28)...
of
3 Holders of rec.
31 Dec. 23
to
-.Holders of rec.
l^Dec. 6 to
Dec. 18
to
Of Holders of rec.
Holders of rec.
Holders of rec.
Holders of rcc.
Holders of rec.
Dec. 29
to
Eastman Kodak, com. (quar.)
Common (extra)..
Mackay Companies,
of rec.
of rec.
Jan.
Dec.
Jan.
2
3
IX
Preferred
Dec.
rec.
to
to
to
Nov.29a
Dec. 10a
8
Jan.
Jan.
4
Jan.
4
Dec. 3a
Nov.30a
Dec.14a
Dec.24a
Nov.30a
Dec.
4
$3
Crex Carpet.
Crucible Steel, pref. (quar.)
Cuban-American Sugar, pref. (quar.)
Detroit Edison (quar.)
Diamond Match (quar.)
du Pont (E. I.) de Nemours
Pow.,com.(qu.)
‘
Tan.
rec.
18
to
3
Jan.
to
Jan.
18
3
18
to
Jan.
3
Holders of war’t No. 17
Holders of rec. Dec. la
Jan.
2
to
Jan. 14
i
2
i
of
of
Dec.
10
5a
15
2
Jan.
Dec.
to
of rec. Dec. 9a
of rec. Dec. 9a
of rec. Dec. 10a
2
to
Jan.
Dec.
Dec.
15
2
3C
3
3
3
rec.
rec.
Dec. 16a
2
Towing, pref. (quar.)
Guggenheim Exploration (quar.) (No. 32).
Inger3oll-Rand, preferred
International Silver, pref. (quar.)
Preferred (extra)
i
Laclede Gas Light, com. (quar.)
3
3
3
3
3
14
of
of
Nov.30a
Dec.
3
Dec. la
Dec.15a
Nov.30a
Nov.30a
Dec. 9a
Dec.
4
rec.
2A
IX
(quar.)
Holders
Holders
Nov. 20
Holders
Holders
Holders
Dec. 22
Holders
Holders
Dec. 25
Dec. 16
Dec. 10
15 Holders
10 Holders
20
a
19 Holders
5 Nov. 20
Jan.
Ian.
to
31 Holders of
common (quar.)
Preferred (quar.)
City & Suburban. Homes
Consolidated Gas of N. Y. (quar.)
Consumers’ Power, pref. (queur.)
Extra
Great Lakes
Jan.
Dec.
Dec.
Jan.
28
Jan.
2
9
Dec.
Jan. 10
20
IX
pref
pref. (quar.)
(quar.)
ran.
Jan.
Jan.
Jan.
to
to
to
Dec.
2
Preferred (quar.)
Equitable III. Gas L., Phila.,
Federal Mining & Smelting,
General Chemical, preferred
General Electric (quar.)
Goldfield Consolidated Mines
Dec.
Jan.
Dec.
16
30
17
Dec.
Chicago Telephone (quar.)
Preferred (quar.)
Jan.
Jan.
Jan.
3
10
10
31
2
2
2
31
31
31
5
3
3
17
31
20
22
16
3
3
1
elX
2
Childs Company,
a
Ian.
Louis & Ban Francisco—
Clic. & East Illinois com. stk. tr. effs..
Preferred stock trust ctfs. (quar.)
K. C. Ft. S. cfc M. pref. stk. tr.
ctfs. (qu.)
Southern Pacific Co. (quar.) (No. 17)
Union Pacific, common (quar.)
White Pass & Yukon
on
Dec.
Dec.
3
*
Interborough R'l'dd Transit (quar.)
Norfolk & Western, common (quar.)
Phlla. Germantown & Norrist'n (quar.).
St
Jan.
Jan.
Dec.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Dec.
2A
Preferred
East Mahanoy
Erie & Pittsburgh
fan.
Jan.
Dec.
Dec.
Dec.
Dec.
2
Cln. N. O. & Texas Pacific, common
Colorado & Southern, common
Delaware & Hudson Co. (quar.)
Delaware Lackawanna & Western (extra)
Denver & Rio Grande, preferred
Detroit & Mackinac, common (No. 1)
Books Closed.
Days Inclusive.
Jan.
Dec.
Jan.
Dec.
Jan.
IX
3
When
Payable.
-
10 Dec.
4
-----
to
4
to
Dec. 10
5iHolders of rec. Dec. 5
15 Holders of rec. Nov 16a
3|Holders of rec. Dec. 19a
15!Holders of rec.Nov.30a
241Holders of rcc. Drc. 12a
3.Holders of rec. Dec. 15a
16 Holders of rec. Jan. 3a
15 Holders of rec. Nov.22a
15 Dec.
G
to
Dec. 15
25 Jan. 15
to
Jan. 25
2 Holdersof rec. Nov. 30a
2 Holders of rec. Nov. 30a
2 Holdersof rec. Nov. 30a
151 Holders of rec. Dec. 8
15 Holders of rec. Nov.25a
3 Holders of rec. Dec .20a
14 Holders of rec. Dec. 3a
31 Holders of rec. Dec. 31
31 Holders of rec. Dec. 31
3 Holders of rec. Dec. 15
3 Dec. 15
to
Jan.
3
1 Holders of rec. Dec.
10a
2 Dec. 20
to
Jan.
2
2 Dec. 20
to
Jan.
2
15 Dec.
2
to
Dec. 15
15 Dec.
2
to
Dec. 15
3 Holders of rec. Dec. 10a
3 Holders of rec. Dec. 10a
31 Holders of rec. Dec. 10a
31 Holders of rec. Dec. 10a
1 Jan. 15
to
Feb.
1
15 Holders of rec. Nov. 30
14 Holders of rec. Dec.28a
31 Dec. 10
to
Dec. 13
15 Nov. 19
to
Nov. 22
3 Dec. 24
to
Jan.
3
3 i Dec. 10
to
Dec. 18
31 Holders of rec. Dec. 15
20 Dec.
1
to
Dec. 20
2 Holders of rec. Dec.15a
15 Holders of rec. Nov. 30
1
15 Holders of
24
24
1.1
15
3
2
1
G1
30
31
1
Statement of New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week
The
figures for the separate banks
daily results.
In the
Holders
Holders
Holders
Nov. 27
Dec.
8
folders
Holders
Holders
Holders
Holders
Holders
Dec. 20
Dec. 2C
Holders
Holders
Holders
Dec. 18
Holders
Dec. 16
Dec.
2
Dec. 17
•
rec.
Nov. 19a
of rec. Jan. 3a
of rec. Jan. 3a
of rec. Feb. la
to
Dec.
4
to
Dec. 20
of rec. Jan.
5
of rec. Dec. 17a
of rec. Dec. 10a
of rec. Dec. 10a
of rec. Nov 30
of rec. Dec. 15a
to
Jan. 10
to
Jan. 10
of rec Nov 30
of rec. Nov.18a
of rec. Dec.24a
to
Jan.
of rec. Dec. 20a
to
Jan.
2
to
Dec. 14
to
Dec. 20
1
*
K
15 Holders of rec. Dec.
31 1 Dec. 14
to
Jan.
d Correction,
e
the averages of the
of the totals, the actual figures
also given.
For definitions and rules under which the various items
are made
up, see “Chronicle,” V. 85, p. 836.
are
We omit two ciphers (00)
Banks.
00s omitted.
Capital.
Surplus.
Loans.
Bank of N. Y_.
Manhattan Co.
Merchants’
Mech. & Metals
America
Phenlx
City
Chemical
Merchants’ Ex.
Gallatin
Butch. & Drov.
Greenwich
Am. Exchange.
Commerce
Mercantile
S
500 0
19,634,0
29,950,0
18,067,0
50,039,0
22,951,8
8,329,0
170,520,1
28,027,6
6,941,5
8,153,0
2,726,2
7,365,4
32,062,4
140,454,1
14,087,4
3,520,5
8,116,4
1,921,5
61,841,8
21,615,5
546 0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
250,0
5,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,000,0
1,000,0
1,749H
1,518,8
5,429,2
7,675,1
12,550,1
111,9
5,635,0
2,116,1
20,913,1
1,741,1
802,7
1,726,6
711,2
8,108,3
2,170,6
901,3
1,023,4
1,563,1
1,208,7
510,4
2,088,4
1,051,5
1,977,2
2,719,9
735,6
893,2
600,0
1,000,0
300,0
500,0
5,000,0
25,000,0
3,000,0
Pacific
Chatham
500,0
450,0
200,0
People’s
Hanover
Citizens’ Cent..
Nassau
Market & Fult’n
Metropolitan
Corn Exchange.
Imp. & Traders’
_.
Park
East River....
Fourth
Second
First
Trving Exch...
Bowery
N. Y. County..
German -Amer.
Chase
Fifth Avenue..
German Exch..
Germania
Lincoln
Garfield
3,000,0
2,550,0
Fifth
250,0
Metropolis
West Side
Seaboard
liberty
N. Y. Prod. Ex.
State
14 th Street
Coal & Iron
Union Exch...
%
3,624,1
4,362,2
1,832,1
8,049,5
6,006,3
759,6
31,588,3
6,577,7
602,6
2,517,2
162,0
845,4
4,252,9
16,601,4
2,723,8
927,8
1,012,4
480,3
12,069,9
1,713,2
3,000,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000.0
1,000,0
1,000,0
311.2
408,9
970,7
in all
cases.
Specie.
Legals.
Average. Average.
Average.
f
2,000,0
2,050,0
2,000,0
6,000,0
1,500,0
1,000,0
25,000,0
$
3,880,0
6,810,0
3,388,0
10,849,4
4,022,8
1,667,0
31,922,0
4,813,7
1,587,8
1,045,4
474,9
1,845,2
5,349,1
24,899,4
1,762,0
464,3
1,025,8
17,611,0
47,296,3
22,380,2
7,579,0
152,820,8
25,707,0
7,069,3
6,145,6
2,272,9
8,207,0
30,180,4
117,469,9
10,311,6
3,115,0
8,481,6
1,962,5
70,332,5
20,958,4
981,2
590 5
1 278 1
12,432,7
39,886,0
25,352,0
80,319,0
1,359,7
27,427,0
12,513,0
93,646,1
22,276,2
3,433,0
7,748,6
3,989,9
70,480,2
12,357,5
3,870,6
5,006,5
13,809,7
a, 158,6
3,325,7
11,567,2
4,095,0
19,966,0
16,042,9
7,877,3
15,167,0
5,992,0
5,751.0
8,689,9
1,778,0
3,102,9
7,013,0
4,116,0
20,464,0
337,4
4,854,0
2,921,0
23,853,2
4,776,4
827,0
1,155,0
842,7
16,452,6
2,067,2
520,2
761,9
2,710,1
1,700,5
506,7
1,317,5
877,0
4,503,0
4,819,7
2,092,0
4,513,0
1,183,6
634,0
1,253,3
8*37516
33,400,0 25
94,1
7 176 4
7 9)7 0
’623,6
252,4
4,707,0
1,853,0
1,538,0
153,6
2,300,0
136,0
1,844,1
1,296,8
58,0
577,4
226,1
5,212,7
1,390,7
500,2
504,7
759,2
580,2
359,7
1,460,0
225,0
1,750,0
846,8
206.2
322,0
611,8
867,0
931,0
Re¬
s’ve.
%
%
17,505,0 27.1
207,8
2,556,2
6,872,8
12,262,0
5,310,0
•
8,357,0
13,011,4
46,199,0
22,757,0
83,794,0
1,582,4
26,496,0
12,056,0
84,371,4
23,256,7
3,583,0
7,503,3
3,865,0
77,237,5
13,752,7
4,090,8
5,574,0
14,239,9
8,323,6
3,397,6
11,305,1
4,482,0
23,257,0
17,452,1
9,251,9
18,669,0
6,716,7
5,762,0
8,536,1
5
25.0
25.8
26.2
25.6
24.5
26.5
25.0
25.4
25.0
25.0
2G.3
27.1
26.6
30.5
25.7
29.8
28.1
26.6
23 6
28.7
25.7
25.3
26.2
26.2
31.0
27.0
25.3
30.4
26.1
24.7
23.5
27.6
28.0
25.1
25.0
22.6
24.3
27.4
25.4
24.4
24.5
26 8
32.4
24.8
25.8
26.7
26.0
25.6
On the basis of averages, circulation amounted to
$48,564,200 and United States
deposits (included In deposits) to $1,662,000; actual figures November 19, circula¬
tion, $48,532,200; United States deposits, $1,042,000.
The State Banking Department also now furnishes
weekly
the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are
compiled so as to
returns of
distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
For definitions and rules under which the various items
made up, see “Chronicle,” V. 86, p. 316.
are
STATE BANKS AND TRUST COMPANIES.
State Banks
Trust Cos.
State Banks
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
Week ended Nov. 26.
$
Capital
as of
Surplus
as
Nov. 10
Change from last week.
%
*8,998,000
*9,075,000
39,391,800
174,583,300
*10,891,650
*9,817,991
2S7,909,100 1,006,127,900
—1,719,000 —10,958,200
95,159,200
—477,600
142,548,800
—92,300
Specie
Change from last week.
46,051,200
—106,200
112,746,400
—135,100
I+ga Menders & bk. notes
24,522,400
+ 353,400
12,742,100
97,500
Change from last week.
Deposits
Change from last week.
$
65,406,000
of Nov. 10
-Loans and investments..
$
25,275,000
—
330,485,400 1,042,741,600
Reserve
on deposits
Change from last week.
P. C.
—365,100
+ 220,800
100,501,900
—1,507,700
147,803,800
—291,400
90,711,900
+ 65,100
131,189,800
—499,000
20,427,100
—705,300
20,538,500
—232,900
28.1%
15.8%
15.0%
reserve to deposits..
Percentage last week..
28.1%
+ Increase over last week.
—Decrease from last week.
21.1
'
14.5%
14.6%
21.5%
* As of Aug. 31.
"Reserve on deposits" in¬
cludes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents.
Trust companies In New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below.
The percentage of reserve required is computed on
the aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre¬
sented by certificates, and also exclusive of depostis secured by bonds of the State
of New York.
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 30 days, represented by certificates
(according to the amendment of 1910), and exclusive of deposits secured by bonds
Note.—“Surplus” Includes all undivided profits.
of the State of New York.
—Trust Cos.—
Total
Of
Reserve
which
Location—
8
2
%
880,0
1,738,0
1,020,0
1,373,0
1,837,1
237,0
5,460,0
1,981,4
181,0
516,2
489,1
1,156,4
147,8
7,491,5
230,6
438,0
*4
Deposits.
Average.
Totals, Average 133,350,0 196,577,1 1214,416.5 246,360.2 68,825.5 1187,663,2 26.5
Actual figures Nov. 26.
1222,305,0 247,250,9 69,753,0 1197,296,8 26.5
1
Reserve Required for Trust Companies
and State Banks.
Declared 7%
quarterly installments.
ending Nov. 26.
are
case
at the end of the week
.
I
16
16
28
19
20
14
2
23
23
15
1
[VOL.LXXXX1
—State Banks—
Total
Reserve
Of
which
Required in Cash.Required, in Cash,
Borough
15%
15%
25%
15%
Brooklyn Borough (without branches In Manhat.). 15%
10%
20%
10%
Other Boroughs (without branches In Manhattan;. 15%
10%
15%
7*$%
Brooklyn Borough, with branches in Manhattan.. 15%
15%
20%
20%
Other Boroughs with branches In Manhattan
15%
15%
15%
15%
Elsewhere In State
10%
6%
15%
6%
Manhattan
,
Deo. 3 1910,
THE CHRONICLE
The
Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the
Clearing
House.
These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks.
In addition, we have combined each corre¬
sponding item in the two statements, thus affording an
aggregate for the whole of the banks and trust companies in
the Greater New York.
NEW YORK CITY
BANKS
Clear.-House
Banks.
Week ended Nov. 26.
AND TRUST COMPANIES.
Clear.-House State Banks A
Banks.
Trust Cos. not
in C.-H. Aver.
Average.
ActualFigures
5
Total of all
Banks A Trust
Cos. Average.
133,350,000
9
133,350,000
9
74,731,000
208,081,000
196,577,100
196,577,100
183,170,000
379,747,100
Loans and Investments 1,222,305,000
Change from last week + 17,333,400
1,214,416,500
+ 12,907,900
Capital
as of
Surplus
as
Nov. 10-.
of Nov. 10.
-
Deposits
1,197,296,S00
Change from last week + 20,163,500
Specie
Change from last week
247,250,900
+ 1,817,300
Legal-tenders
Change from last week
_
Aggr’te money holdings
Change from last week
1,095,426,800 2,309,843,300
—12,944,700
—36,800
246,360,200
+ 3,039,400
119,541,600
—518,100
69,753,000
68,825,500
+ 1,201,600
+ 1,794,200
521,004,100
—303,600
317,003,900
+ 3,018,900
315,185,700
+ 4,833,600
Boston and
Philadelphia Banks.—Below is a summary of
weekly totals of the Clearing-House banks of Boston
and Philadelphia.
the
We omil two
Capital
Banks.
and
Boston.
Nov. 5_.
Nov. 12..
Nov. 19._
Nov. 26..
Phila.
Nov. 5..
Nov. 12.
Nov. 19..
Nov. 26..
.
$
reserve
Change from last week
23,013,200
—114,700
478,744,600
26.51%
26.71%
26.57%
26.55%
17.4%
17.3%
+
253,989,0
252,431,0
Surplus
17,679,700
reserve.
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing-House compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
252,029,0
9
9
9
9* fad
Sept. 24.. 2,375,411,8 2,329,379,2
Oct.
Oct.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
1..
8..
15..
22..
29..
5..
12..
19..
26..
2,388,453,3
2,387,881,5
2,382,131,5
2,365,975,6
2.358.583,6
2,361.563,2
2,340,467,7
2,309.880.1
2,309,843,3
■\
2,330,077,9
2,316,630,7
2,306.865,9
2,287,487,9
2,273,641,0
2,271,515,7
2,248,637.7
2.227,664.7
2,232,760,3
392,538,2
382,271,2
374,198,8
371,151,9
367,935.1
364,544.7
357,466,7
355,905,1
363,380,5
365,901,8
Legals.
Holdings.
9
88.911,4
89,226,2
87,948,8
88,364,2
88,481,0
89,325,5
88,230,4
87,892,2
88,339,0
89,829,6
on
9
Banks.
Capi¬
Sur-
and
tal.
plus.
Invest¬
ments.
Century
..
Colonial
Columbia..
...
Fidelity
...
Jefferson...
Mt. Morris.
Mutual
Plaza
23d Ward..
Yorkville
New Neth’d
Batt.P.Nat.
Aetna Nat.
.
-
-
9
100,0
250,0
400,0
300,0
200,0
500,0
250,0
200,0
100,0
200,0
100,0
200,0
200,0
300,0
9
274,3
155,6
391,4
775,8
172,5
537,5
313,9
379,5
462,0
110,6
482,0
259,8
164,0
315,7
9
1,232,0
1,341,5
5,486,3
6,257,0
1,023,5
3,120^4
2,420,0
3,237,9
4,257,0
1.846,8
3,947,9
2,382,0
1,531,5
2,125,4
Legal
Tender
and
Specie.
Bank
Notes.
200,0
252,0
1,000,0
750,0
300,0
200,0
300,0
534,2
838,4
882,0
1,018,1
614,9
149,5
623,9
400,0
250,0
200,0
220,0
125,0
9
139,0
29,5
877,5
609,0
81,1
221,2
461,8
29,3
349,0
156,6
481,449,6
471,497,4
462,147.6
459.516,1
456,416,1
453,870,2
445,697,1
443,797,3
451,719,5
508,147,8
497,810,3
489,103,9
484,935.4
480,663,0
477.425,5
470,422,9
467,943,4
474,847,4
455,731,4 5478,744,6
Deposit with
Clear¬
ing
Agent.
Other
Net
Banks, Deposits.
Ac.
9
52,0
189,2
497,6
572,0
87,5
295,4
31,8
72,7
252,0
187,0
453,6
49,2
683,8
85,0
48,2
45,2
9
123,0
90,9
570,3
625,0
101,8
195,4
408,5
559,2
669,0
200,7
218,9
250,0
93,6
40,5
3,295,6
5,590,5
11,161,6
6,568,0
3,802,0
2,115,0
3,353,0
26,3
451,0
332,1
562,0
100,0
137,1
326,0
372,1
173,7
1,220,1
276,0
571,0
116,6
82,0
256,9
712,2
1,270,3
1,127,0
537,0
205,3
299,0
133,6
125,0
221,1
1,264,0
763,1
400,9
5,137,4
3,106,7
2,118,8
299,9
143,2
55,0
324,3
60,5
91,6
2,388,9
296,3
338,6
144,0
112,1
15,2
6,801,1
2,614,6
2,064,2
626,0
267,4
3,185,9
2,769,9
140,0
111,8
37,4
92,1
154,1
62,0
79,3
146,0
2,863,0
2,864,5
594,5
356,0
9
18,0
187,4
232,5
65,0
516,0
93,9
For week.
1910.
.
Mfrs.’ Nat.
Mechanics’.
Nassau Nat.
Nat. City..
North Side.
First Nat..
Jersey City.
First Nat..
Hud.Co.Nat
Third Nat..
Hoboken.
First Nat..
Second Nat.
Tot. Nov.26 7,497,0
Tot. Nov.19 7,497,0
Tot. Nov.12 7,497,0
1909.
$3,187,801
1908.
1907.
14,346,698
$3,250,890
13,978,983
$2,509,652
10,993,097
$3,023,272
10,087,408
$17,534,469
$17,235,873
$13,502,749
$13,110,680
General merchandise
Total
Since January 1.
.
Dry goods
$142,554,126 $152,273,218 $113,005,070 $168,042,238
681,789,861 638,650,349 461,926,863 605,007,102
General merchandise
Total 47 weeks
$824,343,987 $790,923,567 $574,931,933 $773,049,340
..
EXPORTS FROM NEW YORK FOR THE WEEK.
1910.
For the week
1909.
$10,320,437
611,750.536
Previously reported
Total 47 weeks
1908.
$12,418,031
551,409,111
1907.
$8,539,558
568,026,494
$15,719,598
570,820,911
$622,070,973 $563,827,142 $576,566,052 $586,540,509
The
following table shows the exports and imports of
specie at the port of New York for the week ending Nov. 26
and since Jan. 1 1910, and for the
corresponding periods in
AND
IMPORTS
OF
SPECIE TAT
NEW
12,777,0 92,413,6 6,603,7 7,005,1
12,668,6 93,431,6 6,703,3 7,170,5
12,469,2 94,666,7 6,610,0 7,546,1
Exports.
YORK.
9
1,186,0
1,424,7
7,009,2
7,033,0
1,028,9
3,680,2
3,198,6
Imports.
Gold.
Week.
Great Britain
France
GinceJan.l.
1
West Indies
Mexico
South America
All other countries
$55,200
3,452,617
9,493,766
41,900
—
.
SinceJan.l.
$33,079
$13,469,736
3,569,079
29,475
38,989
53,622
53,204
554,490
286,471
2,085,612
1,532,859
4,455
..
Total 1910
Total 1909
Total 1908
Week.
$32,150,000
Germany
$55,200 $45,142,738
4,839,200 87,368,717
23,900 48,325,200
_
314
$208,369 $21,498,561
128,987
7,953,992
158,668 15,877,136
Silver.
Great Britain
France
$609,985 $35,910,589
27,900
2,198,600
1,019
596,438
200
72,926
Germany
West Indies
Mexico
South America
Ail other countries
$95
7,746
1,153
131,827
50,262
2,790
$640,345 838,834,124
607,365 40,132,450
592,431 38,656,557
$186,127
287,384
55,641
■
47,825
1,241
Total 1910
Total 1909
Total 1908--.
$13,344
5,719
13,310
78,117
1,697,981
1,204,204
1,411,218
w
$4,423,893
4,893,141
3,707,877
Of the above
imports for the week in 1910, $29,520 were
gold coin and $752 American silver coin. Of
the exports during the same time, $55,200 were American
gold coin and 200 were American silver coin.
American
4,066,4
5,162,0
260,5
24,0
60,6
26,4
Borough of
Brooklyn
Broadway
155,102,7
134,465,8
167,889,8
130,869,8
FOREIGN IMPORTS AT NEW YORK.
9
N. Y. City
Boroughs of
Man.A Brx.
Wash. Hgts
16,045.0
16,055,0
16,078,0
15,873,0
245,558,0
Imports and Exports for the Week.—The following are
imports at New York for the week ending Nov. 26; also
totals since the beginning of the first week in January.
Deposit.
We omit two ciphers (00) in all these figures.
Disc’ts
301,304,0
302,816,0
306,020,0
302,701,0
245,346,0
Tot. Money Entire Res.
Reports of Gle&ring Non-Member Banks.—The following
is the statement of condition of the clearing non-member
banks for the week ending November 26, based on
average
daily results:
Loans,
237,844,0
201,362,4
157,615,1
187,550,6
135,073,3
the
EXPORTS
Specie.
68,857,0
67,494,0
69,943,0
71,029,0
9
7,972,0
7,965,0
7,981,0
7,977,0
1909 and 1908:
We omil two ciphers in all these figures.
Deposits.
23,708,0
251,589,0
following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Nov. 26 and from Jan. 1 to date:
18,269,900
Loans and
Investments.
24,021,0
9
9
5,194,0
4,478,0
3,904,0
3,803,0
Clearings.
The
-f Increase over last week.
—Decrease from last week.
a These are the deposits after eliminating the item ‘‘Due from reserve
depositories
and'other banks and trust companies in New York City”; with this item included,
deposits amounted to $1,151,603,700, a decrease of $881,000 from last week. In the
case of tlie Clearing-House banks, the deposits are “net” both for the
average and
the actual figures.
& Includes bank note3.
c Of this amount State banks held
$15,057,200 and trust companies $125,488,500.
Week
Ended.
9
24,581,0
23,701,0
253,646,0
3,897,200
Percentage to deposits
requiring reserve
Circu¬
lation.
a
a Including Government deposits and the item "due to other banks.”
At Boston
Government deposits amounted to $3,051,000 on November 26, against 53,057,000
on November 19.
89,829,600
23,013,200
—114,700
163,558,900
—936,400
Deposits,
+ 1,490,600
455,731,400
+ 4,011,900
315,185,700
+ 4,833,600
Legals.
9
55,465,0
55,465,0
55,465,0
55,465,0
+ 2,521,300
Cl40.545.700
—821,700
317,003,900
+ 3,018,900
Percentage last week..
9
205,663,0
206,023,0
200,954,0
199,385,0
Dry goods
other bks. & trust cos.
Change from last wee!;
Total
Specie.
40,200,0
40,200,0
40,200,0
40,200,0
365,901,800
deposit with
on
Loans.
Surplus.
..
Money
ciphers (00) in all these figures.
S
1,187,663,200 ol,015,097,100 2,232,760,300
+ 17,348,100
—12,252,500
+ 5,095,600
-
1493
latiMug atiiT ffiimtieial.
1,952,8
5,034,7
2,523,0
1,304,5
2,056,5
3,491,3
5,635,3
14,107,3
6,581,0
163,0 4,772,0
87,6 2,424,1
38,0 2,939,0
11,794,4 2,749,5 103817,9
10,654,5 2,815,5 104112,3
12,788,6 3,244,5 107891,7
Railroad and Industrial Stocks
Let
send you our circular
road and Industrial Stocks.
us
describing 110 ISSUES of listed Rail¬
Spencer Trask & Co.
NEW YORK.
43 EXCHANGE PLACE.
Chicago, Ill.,
Albany. N. Y.
Boston, Mass.,
Members New
York Stock Exchange.
WHITE, WELD &
CO.
Members New York Stock Exchange.
5 NASSAU STREET.’
NEW YORK
.
THE ROOKERY;
CHICAGO
t
1494
THE CHRONICLE
Mmihzxfr
(§a^jcttjc«
week’s operations seems more logical and more in harmony
with existing conditions than the general upward trend of
prices which had been in progress for a considerable time
previously.
Current reports of railway net earnings are undoubtedly
the most important feature of these conditions and one which,
in view of the attitude maintained by the Inter-State Com¬
merce Commission towards our railroads, promises to be of
increasing interest. ~ Next in importance, perhaps, and
closety allied with the above, is the present state of the
iron and steel industry.
If prominent authority in that industry has been correctly
quoted, the iron and steel business is suffering largely from
a lack of orders from the railroads and there is little
hope
of more activity until the railroads are again purchasers of
steel products.
It is evident therefore that some of the
largest employers of labor in the country are restricted in
their operations because the railroads have reduced equip¬
ment and supply orders to a minimum—the cause for which
is too well-known to require mention here.
The foreign financial situation is reflected in a reduction
of the Bank of England’s discount rate to 4^2%.
The
purpose for which the rate was raised to 5% on October 20
seems to have "been accomplished, as the weekly statement
shows a percentage of reserve substantially larger than the
average for a series of years.
The local money market
remains easy, with rates practically unchanged.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2 to 234%.
To-day’s rates on cail were 2 34@ 2 y2%
Commercial paper quoted at 4for CO to 90-day en¬
dorsements, 4M@5M% for prime 4 to 6 months’ single
names and 53^@6% lor good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £40,£48 and the percentage
of reserve to liabilities was 50.25, against 51.48 last week.
The rate of discount was reduced Dec. 1 from 5%, as fixed
October 20, to 434*%The Bank of France shows a decrease
of 8,025,000 francs gold and 7,875,000 francs silver.
.
•
CITY
CLEARING-HOUSE
1910.
A ve rages
.
for
iveek ending
Nov. 26.
Differences
fiom
previous week.
S
S
133,350,000
Capital
198,5’7,100
Surplus
Loans and discounts
1,214,4 LG, 500
Circulation..48,564,200
Net deposits
1,187,663,200
S.
U.
1,662,000
dep. (lncl. above)
Specie
246,360,200
68,825,500
.
-
-.
BANKS.
1909.
Averages for
1908.
Averages for
week ending
tceek ending
Nov. 27.
Nov. 28.
S
127,350,000
180,024,400
-
S
126,350.000
163.720,100
Inc. 12,907,900 1.196.167.100 1,340,537,100
Dec.
79,400
52,965,200
45,512,100
Inc. 17,348,100 1.175.582.100 1,425,375,000
Inc..
16,900
1,680,108
S,821,700
,
Inc.
3,0)9,400
1,794,200
235,090,600
68,118,800
315.1S5.700 Inc.
296,915,800 Inc.
4,833,600
4,337,025
303,209,400
293,895,525
384,474,400
356,343,750
18,269,900 Inc.
496,575
9,313,875
28,130,650
500,S09
9,733,900
30,336,075
xnc.
304,427,200
80,047,200
■
Reserve held
25% of deposits.
.
._
Surplus reserve
Surplus, excl. U. S. dep
18,685,-100 Inc.
.
Note.—The Clearing
condition of the banks
House
Issues a statement weekly showing the actual
on Saturday morning as well as the above averages.
These
figures, together with the returns of separate banks, 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.
now
,
Foreign Exchange.—The week has been an uneventful one.
Demand sterling has moved quietly between 4 85% and
4 8610, with cable transfers about 34»c. higher.
The close
to-night was at the top.
To-day’s (Friday’s) nominal rates for sterling exchange
were 4 83 for sixty day and 4 87 for sight.
To-day’s actual
rates for sterling exchange were 4 8245 @4 8255 for sixty
days, 4 86@4 8610 for cheques and 4 8650@4 8660 for
cables.
Commercial on banks 4 82@4 8234 and documents
for payment 4 S234@4 8234Cotton for payment 4 81
4 82 and grain for payment 4 8234@4 82%.
*
To-day’s (Friday’s) actual rates for Paris bankers’ francs
were 5 22^@5 2134 less 1-16 for long and 5 20 less l-32@
5 20 for short.
Cermany bankers’ marks were 94 5-16@
94% for long and 95 1-16 less l-32@95 1-16 for short.
Amsterdam bankers’ guilders were 40 20@40 22 for short.
Exchange at Paris on London, 25f. 28%c.; week’s range
25f. 31c. high and 25f. 28%c. low.
Exchange at Berlin on London, 20m. 47pf.; week’s range,
20m. 48%pf. high and 20m. 46%pf. low.
The range of foreign exchange for the week follows:
Sixty Days.
Sterling, Actual—
High for the week
Cheques.
4 S3
.
Low for the week-.,.4 82%
Paris Bankers' Francs—
High for the week
—
5 21% less 1-16
—
Low for the week
5 23%
Germany Bankers' Marks—
High for the week
Low for the week
4 8610
4 8585
Cables.
4 8665
4 8635
5 20
5 20 less 3-32
5 19% Ic-ss 1-32
5 20 less 1-32
95 1-16 less 1-32 95%
94 15-16 less 1-32 95 less 1-32
94%
94 3-16
Amsterdam Bankers’ Guilders—
High for the week
40 02
Low for the week
39 96
The
following
are
40 22
40 18
40 26
40 20
the rates for domestic exchange at the
Chicago, 10c.
undermentioned cities at the close of the week:
per
par.
$1,000 discount.
Boston,
Charleston, buying,
for cash. San Francisco,
selling, l-10c. per $1,000
par
par;
St. Louis, 5c. per $1,000 discount. St. Paul,
$1,000 premium. Savannah, buying, 3-16c. per
$1,000 discount; selling, par. Montreal, 15%c. per $1,000
60c.
Wall Street, Friday Night, Dec. 2 1910.
Money Market and Financial Situation.—A steadily
progressing movement downward has characterized the
security markets throughout the week. This result of the
YORK
LXXXXI.
premium.
The
NEW
I'VOL.
per
discount.
State and Railroad Bonds.—Sales of State bonds at the
Board include $40,000 New York Canal 4s at 104% to 104%
and $11,000 Virginia 6s deferred trust receipts at
37 to 39.
The market for railway and industrial bonds has been
again dull, the transactions averaging below $2,000,000, par
value, per day; and prices are lower in sympathy with the
market for shares.
The notably weak issues have been Amer.
Telephone &
Telegraph 4s, Baltimore & Ohio gold 4s, Seaboard Air Line
5s, Union Pacific conv. 4s and General Electric 5s. Distilling
Securities Corp. 5s are unique in that they show an advance
of
over
34
a
point.
United States Bonds.—Sales of Government bonds at the
Board $5,000 4s reg. at 115%The following are the daily
closing quotations; for yearly
Interest
Periods
range see
v
A ov.
26
Nov.
third
Nov.
29
28
Nov.
30
2s, 1930
2s, 1930.
83, 1908-18
8s, lyOS-18
4s, 1925
registered Q—Jan *100% *100% *100%
*
100 % *100% *100 F.
coupon Q—Jan
registered Q—I eb *101% *101% *101?/.
coupon Q—Feb *101% *101% *101%
registered Q—Feb *115% *115% *115%
4s, 1920.
coupon IQ—Feb *115% *115% *115%
2s, 1936.Panama Canal regls Q—Feb * 10 0 % *10018 *100%
2s, 1938.Panama Canal regis Q—Nov * 100 % *100% *100%
:
*
This is the price bid at the morning board;
page
following.
Dec.
1
Dec.
2
*100% *100% *100 %
►100% *100% *100%
**101 % *101% *101%
►101% *101 % *101%
*
115% 115%
►115%
■* ! 1
f, U *115% * 115 %
►100% *1003- » ICO 34
$ 100 % *100% *100%
no sale was made.
Railroad and Miscellaneous Stocks.—The stock market has
been much more active than for several weeks
past, coincident
with the downward movement mentioned above.
Nothing
occurred during the week to check that movement and the
speculative element, which has held practically undisputed
control of the market, succeeded in its efforts to
depress
values, with the result that a long list of active shares declined
from 4 to 9 points.
Lehigh Valley shares, listed on the New York Exchange
this week, lost a substantial part of the advance recorded in
the Philadelphia market last month.
After recovering
somewhat, it closes with a net loss of 10 points.
Denver
& Rio Grande has covered a range of 9 points, closing 4%
points above the lowest... Missouri Pacific covered 6% points,
General Electric 6% and Reading 8%.
United States Steel declined steadily on rather unsatisfac¬
tory reports of the outlook as well as the present condition
of the iron and steel business.
Steel preferred declined
over 3 points and the entire industrial list has followed the
trend of the market.
For daily volume of
The following sales
represented in
our
STOCKS.
business see page 1504.
have occurred this wreek of shares not
detailed list on the pages which follow:
Sales
Week ending Dec. 2.
Range for Week.
[
for
Week
Lowest.
.
j
Highest.
Range since Jan
Lowest.
t
Amer Brake Shoe & Fdy
Amer Telegraoh & Cable
Batopiias Mining.
Buffalo Roch & Pittsb..
Colo Fuel & Iron, pref.
Comstock Tunnel
E I du Pont Pow, pref..
General Chemical, pref..
Keokuk & Des Moines..
Lackawanna Steel.
New York Dock, pref
North Ohio Trac & Light
-.
Rutland, preferred
St Josenh & Grand Isl..
Sears, Roebuck & Co, pf
200 89%
23 80
800 8234
100 107
300 110%
1,000 20c.
100 83
Dec
Dec
1
2
89% Dec
1 i 83%
80
Dec
£
71
Nov 30 $2 % Nov 30 82
Nov 30:107
Nov 30 i 95
Nov 29 110% Nov 30 1107
Dec
2 25c. Dec
2 j 20c.
Dec
2 83
Dec
2 i 83
!
30 103% Nov 28:103%
170
4% Nov 30! 4%
100 40
Dec
1 40
100 65
2 65
Dec
100 39% Nov 28 39%
100 38
Nov 28 38
100 18
Nov 26 18
600 120
Nov 28 120
Outside Market.—A general
Nov 28
Nov 30
Dec
Dec
1
2
|101%
4%
34
65
Nov 28 ! 35
Nov 28 I 28
Nov 26 | 18
Nov 28 il20
Get
1.
Highest.
91%
Sept 88
Sept S3 %
May 107
Cct 116
Dec 36c.
Nov 88
June 107
9
July
Oct 45
Dec 86
Feb 39%
Feb 44
June 20
Oct 121%
Nov
Oct
Jan
Nov
Jan
Jan
Jan
Mch
Jan
May
Mch
Nov
Nov
Apr
Mch
sagging of prices took place
in the “curb” market this week and few issues failed to
show at least a fractional recession, and in some cases a de¬
cline of a point or more was recorded.
Business as usual has
been'mainly in mining shares. British Columbia Copper
fell from 634 to 6%.
Butte Coalition went down from 1834
to 17%.
Chino was one of the weakest features, dropping
from 24% to 22the close to-day being at 22%. Giroux,
after an advance from 7% to 7 34> sank to 6%
Greene Cananea lost about half a
point, declining to 6%. Inspiration
receded from 10 % to 9 7-16 and ends the week at 9)4Ma¬
son Valley lost over a point to 9%.
Miami ran down from
2034 to 1934. Ray Central weakened from 234 to 2 1-16.
Ray Consolidated sold off sharply from 2134 to 1834 and
finished to-day at 18%.
Kerr Lake reacted from 734 to
6 13-16.
La Rose Consolidated sold down from 4% to 4 34Nipissing moved up from 10% to 11 and down finally to
10%. Miscellaneous securities were quiet and lower. Ameri¬
can Tobacco lost 13 points to 403, and finished to-day at 408.
American Writing Paper preferred sold down from 29% to
2834* Intercontinental Rubber up to Thursday had lost
about a point,to 28%, and thereafter sold down sharply to
26%. Pittsburgh Steel preferred rose from 100% to 101%
sank to 100 and sold finally at 101.
Standard Oil went
down from 614% to 612 34 and up to 615.
Among bonds,
American Smelters Securities 6s, “w. i.,” having suffered a
sharp reaction on the closing day of last week, from 102 to
10034* advanced this week to id. The “rights” to sub¬
scribe to the new bonds were traded in from 1-16 up to %.
Western Pacific 5s sold down from 93% to 2 and at 92%
finally.
Outside quotations will be found on page 1504.
•
Exchange—Stock Record, Daily, Weekly and Yearly
New York Stock
OCCUPYING
Monday
Tuesday
Nov. 28
Nov. 28
Nov. 29
Thursday
Dec. 1
Wednesday
Nov. 30
Dec. 2
Range Since Januaiy 1.
of lOO-sftare lots
Lowest
Rail/oads
*25
30
*65
70
100% 103%
101
101%
117
117%
106% 107
91
*88
75% 77%
30
70
*25
*65
1038s 103%
101% 101%
*11712 119
*107
10712
91
*88
7734 773.4
199% 19678
8412
117
10534 105%
91
*88
75% 76%
194% 195% ,rl92
30
70
*145
♦190
*140
*160
*3
*89
75
*88
90
*275
82
♦30
*67
*98*%
5912
*74
*72
170
*500
*32
$7414
7414
*51
61
*11*4
13ls
*2218
2934
*47%
*36l2
24
124
59
*14
71%
*51
11%
73%
61
*53
1134
♦11%
*21%
28%
46%
22
22
28% 2912
47
48%
35
35
121% 123%
59%
58
1334 14
2978
49
37'g
12414
59
15
6934
72%
72%
*53
61
12
23
*11%
*2134
28%
47%
27%
46
35
35
*34%
1213S
57%
13%
121% 123
5734 58
*13% 14
*93
94%
*125*
♦133l2
20l2
5512
135
135
*20
20%
55%
20%
*34%
36
*75
*32l2
77%
33%
*66
*15
*39
67
20
43
*63"
*145%
*14014
29
*48
134*8
*147
*8812
*3334
.*641*51 "
*135
*69
361,8
11312
*65
*10112
*88
*152
*147
421
'
72%
94% *93% 94%
*125
135 K125
135
132
13284 1341? 132
19
20%
19% 197g
53 34
53
52% 55%
*19%
20% *19% 20
33
35%
33% 33%
77% *75
*75
77%
32
31% 31%
3234
66
65
60
65
20
*15
20
*15
43
*39
39% 39%
179% 183%
179% 186
64
67
64
*63
141
142~s
144% 141
140
140
140% 140
*27
30
26
2634
54
*48
54
*45
130
133% 131
131%
150
*147
150
*147%
*88% 89% *88% 89%
32% 3334
32% 33
64
64
*33
4S'4 49%
49% 51
*135
145
145
*135
70
*6S
70
*68
*
146
144%
210
150
170
31%
661
20
40
*30
*
21%
*43
8
67
105
59
76
76
161
575
29
53
53
12%
22127%
45
*34
361-
8034
40
66
22
46
119% 121%
*145
14184
*190
*135
*160
3%
& Ohio
Do pref
100 Baltimore
21,740 Brooklyn Rapid TransR.
7,600
( Canadian Pacific
'anada Southern
Central of New Jersey
*234
*6
*64
*98%
146
144
210
145
170
3%
8
67
103
57%
57
*74
*72
162
*500
27
68%
52
*10%
*21%
2G34
44%
34
76
76
163
575
29
70
52
12
22%
27%
46%
65,195 Chesapeake & Ohio
Chicago & Alton R R
Do
56
*13%
57
14
135
*125
129%
130
18% 19%
51%
17
30
*74
30
52%
18
31%
303s
65%
140
_
Delaware & Hudson
Do pref
400 Detroit United
Duluth
So Shore & Atlau
325
Do pref
200
18,108
14,800
2,300
500
18,850
3,200
23
|?rie
n
Do 1st pref__
Do 2d pref
Great Northern pref
Iron Ore properties
Green Bay & W, deb ctfB
__
Havana
Electric
Do pret
.
_
Hocking Valley
Illinois Central
„
_
.
KC Ft SCity
& MSouthern
tr cfs, prel
ansas
Do pref.
300
Mch
2
Jan
3
J’lyil
J’ly 1
J’ly 26
12% J ly 26
J’ly -7
35
20% J’ly 27
J’lyi6
J’ly 0
118
45
1L
Aug 10
881- Ja-i 20
03% Nov 17
May 5
124
J'iy 26
14% J’ly 20
41% J’ly 26
•>
m-i
116%
*102
*90
*100
129% 12934
128% 130%
C084 Jan
70
Apr
84
66
141
140
14/
Jan
931
*95
97
97
§97
98%
115% *110
115% *108
115% *108
115%
152% 153% 1483s 152% 148% 150% 147% !503s
T S7‘S 88% *87% 88% *S7% 88% *87% 881
*95
*110
95
95
33%
*6612
33%
*61
621
4112
*24%
41%
63
117%
27
63
*27
*1112
*7
*94
31%
65
*60
40
68
29
63
1173
57
110
*5312
*17%
*3612
461*72
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*12
*7%
*60lo
3934
*23%
31%
65%
*55
115
26
27
25%
5934
62%
27%
60
25
*26
103s
7%
25%
12%
25%
57%
56
*110
93
291
58
18
38
46%
75
6%
15
8
63
11*%
74
*7%
57
25
63
116
26
61
56%
56
112
-
30%
31%
64®4
3S34
65
62
40
24
58
24
59
114% 116
25%
59%
257S
10%
*23
97
§62
39%
10%
*7%
7%
253s
25
25%
61
26
11
96
115%
14578 1483s
10%
*7%
23%
2334
5634
57
57
1678
45%
*73%
74
6%
16
8
58
*5
*12
*7
30%
63
*60
63
37%
*23%
3S34
24%
39%
24%
57
60
*12
*7
58%
57%
57%
29%
62%
65
59
*12
583S
*6
561-
8
*7
2334
56%
110
172
92%
22
27
53%
16%
33~s
94
31
63%
pref._
K istpVt
2d pref
51,700 Rock Island Company
Do pref
2,200
*ios34
56%
00c,
Twin
(Sty Rapid
Transit
JJ"nion
pref
Do Pacific
♦25
53
15%
32%
44%
27
53
16
33%
46
7434
4%
*73%
5%
74
14
8
*12
*6
55
15
8
56
5%
SOffftinit Rys Inv’t of San Fr
500
Do
pret
2,910
...
Do pref
10,300
3,900 West Maryland Ry
Do pref
100
800 Wheeling & Lake Erie..
Wabash
Do
1st pref
Do 2d pref
2,600 Wisconsin Central
Banks
New York
Aetna
uta
175
America 1i__
Amer Exch.
Audubon
595
230
Battery Pk_
122%
Boweryfl
BronxBoroti
ix
Nat
1 It)
3/b
300
200
Bryant Pk
155
Butch & Dr
138
Century 1|_.
Chase
*
179
4 JO
.4s*
.
-
205
160
145
175
459
Ask
330
Chemical
125"
•
But
310
200
425
150
380
153
409
Chelsea ExT]
180
605
-
Banks
Chatham
.
_.
Citizens' Ctl
City
Coal & Iron
Colonial Tl__
Columbia UCommerce
tl96
Corn Ex 1).. 310
East River.
115
_
Fidelity
165
AveH. 4090
Fifth
Banks
_
430
155
387’
158
405
T200
315
125
175
4250
Flith
First
Bid
Banks
Bid
Ask
300
840
150
350
Irving N Ex
200
210
185
....
Gallatin
325
Garfield
Germ-Am 1J
Germ’n Exlj
Germania 1).
Gotham
299
140
485
559
159
255
610
550
Greenwich
Hanover
f
Imp & Trad
_
JeffersonlL.
155
197
332
Liberty....
575"
Lincoln....
409
425
Manhattan^
332
30J
Mark’t&Fui
Mech &Met’s
Mercantile
Merch Exch
Merchants
325
260
245
150
160
179
159
505
665
_
265
620
565
.
_
Metropolis 1i
Metropol ’nil
Mt
MorrislJ.
390
202
259
J an
14%
Nov
Peb
28
Mch
Mch
22%
36%
;•>
28%
136%
65%
13%
Mch
Peb
Mch
Nov
Feb
39
83% Feb
Feb
137
209
C8U
30
7434
heb
82
63
Aug
J’naau
-
122% J’ly 26
89 J’ly 20
110
Oct 25
i30% J’ly 2u
x85
Aug 24
J’ly 26
Aug 11
34% Aug 2
181- J’ly 26
61% J’ly -6
138% Mch 9
104% Mch 22
116
Mch
1
172% Feb 18
93% Feb 17
llO%Jan 3
57% Jan 3
92% Apr 9
73
00
Jan
Jan
6
„
_
23
Jan
59
“Jan
U21
Jan
137
Dec
81
132%
147
89
35%
71
65
Sep
44%
21
Jan
Jau
i49%
Jau
Apr
J iy
Peb
1 eb
Feb
Apr
Dec
Apr
Nov
1641-
Aug
Dec
94 ‘
501-
Oct
78%
Oct
Aug
‘ Deo
Dec
26% May
771.,
142
64
14734 Aug
69
100
95
1743,
Nov
Feb
Nov
J’ne
/»1471-Dec >i14934 Dec
42% Feb
55% J ’ne
102
Dec
84% Jan
921" J ly
85% Men
1591- Aug
133% Feb
76
Mch 1161" Deo
100
Mch §196 * Sep
88
Mch
126% Feb
86% Jan
104 “ Feb
118
Feb
89
Mch
90
Feb
2078 Feb
57% Feb
65% Mch
Feb
20% Feb
47% Jan
114% Feb
22
69
30
Feb
Jan
Feb
121.; Dec
7
May
43
Feb
6434 Feb
Jan
97
172% Feb
r94
30
Mch
Feb
50% Feb
16
41
Feb
Jbeb
5
J'ly
15% J’ly
13% Jan
6% J'iy
Nov 2
153%
Mch
Jan
64
”71% Dec
fug
1G2%
Jan
Jan
120% Feb
48% Mch
100
Feb
76%
JI54
Apr
Apr
Sep
60% Aug
75% Aug
29% AUg
64% J’ne
65
yo
122% Jan
36
34% Jan
77%Jan 3
il3s%Jan
4
103% J’ly.26
18
J’ly 26
33% Jan 3
75
43
Jan
j’ly 26
3
22% J’ly 20
36% j an 3
51* J’no 1
19% Jan 7
5%J’ly 6
1534 Jan 12
19
J’ly 26
64% Jan
72% Jan
4284 J’ly 28
103
j’ly 26 117% Jan
152% j’ly 26 294% Jan
88% J’ly 26 19334 Jan
42% Jan
23% J'neJO
J’ne30
47
72%jan 8
2734 Jan
12% J’ly 25
01
Jan
28% j’ly 26
40
J’ly 26
54%Mch 12
67
75
Novl9
Aug 15
3
19
Jan 3
Apr 28
J’ne30
J’ne 30
J’ly 26
48
Dec
63 j Dec
62
Peb
I-eb
Apr
162% Aug
Sep
*,e£
M8V
Dec
Dec
48
67%
19%
Mch
103
100
2bh
Nov
Jan
Dec
Apr
ix^Mch
11%
36% Mch
Feb 18
44% Jan 3
71
Jan 4
25% Jan 5
62% Jan 3
Aug
J’iy
Jan
Feb
71% Aug
21
Jan
30% Jan
39
J’na
66% Aug
46
Aug
157% Aug
88% Aug
Dec
21
25% Jan 11
C278 Jan 12
89
Aug
51
90
2634
255
160
170
Banks
Mutual
J
Nassau 1i
New Neth'd
NewYorkCo
New
York.
N’ht ADayH
19th Ward.
Northern
Pacific!!
Park
181
410
206
People’s U__
269
Pfaza!!
Phenlx
Bid and a hed pr ces: no sales were made on this day. tEx-rignts. tfLess than 100 snares. IlState bangs, a
f Sale at Stock Exchange or at auction this week
h First installment paid
n Sold at private sale at this
Jan
79%
56
Aug
Aug
357s Jan
115
151%
99%
116%
173%
96
Dec
Sep
Dec
Sep
Sep
Aug
1171- Deo
81 ‘ Dec
9434 Deo
74
Dec
6934 Sep
35% Dec
82
Dec
139% Aug
34
Aug
75i" Deo
49% Aug
421" Jan
15%
647S
74%
116%
Jan
Oct
Jan
Dec
219
Aug
11 SI- AUg
47
77
Sen
Sep
2778 Dec
oi34 j’no
12% Jan
257* Jan
15% Jan
Q3/s Apr
QUOTATIONS.
Ask
14th StH—
Fourth
tl96
JaQ
37*%
Dec
May
84% Jan
3
8
4
44
BANKS AND TRUST COMPANIES—BROKERS’
86
Peb
Apr
Mch
68% Jan
3
22% J’ly 26
J iy 27
168% 171% 578,650
4.500 U
9134 92%
105
Jan
54
58
300 Toledo Railways & Light
1,300 Toledo St L & Western..
Do pref
1,000
18%
83%
Jan
535
4
4
5
1S1
1981V23J
167
U80
7
Jan
Jan
Oct
73% Jan
167% Feb
Nov
Sep
Dec
643 * Deo
165% Sep
54% Jan
50
400 St Louis Southwestern
Do pref
Southern Pacific Co
Southern v tr cfs stmpdl)o pref
do
rPexas & Pacific.
Ahlrd Avenue (N Y)
Dec
82?g J’ne
Oct
J’ly 26
Aug
J ’ly 20
87
St LDo& San
Fr, 1st pref.
2d pref
Dec
Oct
1893s
70%
523*?
91%
7 434
78%
37%
J’neju
200
3,390
27
59
8
23
*
45%
56%
Do
T\oaiimg'
2.700
ni34 1137g 110,720
24% 25
8.700
5,150
5834 60
2,400
2434 25%
3,600
9%
934
11
2334
*541-
15
8
94
112% 114
2434 25
5934 60
2484 25%
8
43,301 Pennsylvania
185 Pltt-b Cln Chic & St L__
115%
m*8 147% 789,400
200
m? 8S1
*60
39
§108% 108% *107%
173% 1761- rl69%
92%
92% 92%
27
27% *25
54
55 ‘
53%
16
17
16115%
35%
32%
33% 35%
45
46
4634
45%
75
*73
74% *73%
6
5
4%
4%
16
8
96
29%
*63%
174% 176%
92% 92%
35
96
*108
881
97
10
*7
8
25
127% 12384
*871*93
109
109
174% 177%
92% 92”s
*26
29%
*55% 58
I684 17%
35% 36%
45
46%
*5
*12
32%
661
63
*60
63
28
110
92-34
41%
24%
*94
97
27%
177.% 178%
*26
*94
23%
59% 62
11434 1175f
9
25%
97
33
66%
63
96
*100
Mch
106*% J’ne
143% Aug
122% J’iy
96
Apr
15
25
68
23
Nash Chatt & St Louis
128% 129
Jfln
51
76%
l4378
80% Jan 4
18% Mch 22
97% Apr 14
Oct
166%
734
Mcll 8
Jau 3
Jan
Mch
Apr
68
109
Jan 3
Jan 27
Jan 3
99
208
148
3I0
18%
34% Jan 4
34% Jan 5
52% Mch 8
42
Nov
31% Dec
68% Dec
Feb
158% Mch
173% Peb
_
64% Jan 10
158% Jan 3
172% Jan 3
182% Jan 3
225 Jan
c
...
128% 129%
Feb
216
09
36%Jan
125*%
Jan
60%
Jan
Jan
Jan
„„
97
Jan
55*% Jan
67% Feo
92
24J75 Pclflc Coast Co.
130% 130%
iii '8
25
30
Lake Erie & Western
,
Mch
1071- Jan
1031- Feb
91 ‘ Nov
67
Jan
tlG5
Mch
15
*15
20
*14
20
Oct
Do pref..
39
*37
40
40
♦37
*37
100
Dec
177
186 Nov 28
180
181% 177
183% 179
180% 118,370 Lehigh Valley
69
J’iy
63
*621- 67
*62
67
/u% Apr 14
63
300 Long Islaud...
67
141% 142% 140 “ 141% 139% 140%
7,600 Louisville & Nashville.-. 131% J’iy 20 159% Jan 5
145%
123
J’ne30 146 Oct 6
*140
142
*139
141
*139
141
450 \/I anhattan Elevated
141%
J’ly 26
23
63% Jan 4
27
29
800 D-Llnneapolls & st Louis
*25% 2734 *24
25% 25%
Do
Sep 21
80
Feb 24
40
*45
pref
*48
54
*45
54
54
54
Minn
St
P
6s
S
S
Marie
Men 3
145
J’ly
26
114
4,020
130% 131% 129% 1303s 129% 131
134%
Do pref
144
J’ne 6 1651- Mch 2
*147
149
*147
*146
150
150
149%
Do leased line ctfs_-_- x80% Sep 20
92% Jan 3
89
89
100
89%
*88% 89%
*88% 90
27 J’ly 26
61% Jan 5
32
31% 31%
7.700 Mo Kansas & Texas
32%
34%
29% 32%
Do
67
J’ly74% Jan 5
pref
63
400
63
66
*63% 64% *62
64%
Missouri
Pacific
41
J
ly
26
73% May23
45
44% 4634
45% 49%
46% 19,050
5114
125
J’iy
140
Nov 3
*135
145
*135
145
*135
145
145
at
O0
Peb
RyB
of
Mex
1st
*68
71
*68
pref
*68
72% Nov 3
70
71
71%
Do 2d pref
35
37% Novl4
36
23% J’ly 26
36%
35% 35%
3558
5.038
35"8 36% *35% 36%
36%
11534 111% 113% 111% 112% 11034 112
109% 111% 109% 11034 50,050 N Y Central & Hudson.. 105% J’iy 2“ 128 Mch 9
N
Y
Chic
&
St
Louis
64
64
*63
66
65% May
63
66
400
6878 NOV 3
65
*64% 66
64% 641Do 1st pret
*104
*105
110
*101
109% Jan 21
110
no
110
*101% 110
1101 J’iy
*101% 110
Do
2d
98
Jan 19
pret.
*87
94
*88
94
*86
95
94
82%
Apr
28
95
*88
95
*87
149
Apr 28 162 Mch 14
153
152
450 N Y N H & Hartford.
152
154
*152
153% 152% 152% *152
152% 153
Subscription receipts z. 4143 Jnelo ftl51 Mch 11
+146
148
*146
300
1431
148
148
146% 1467s
146-% 148 *146
59
Jan 5
38% Aug
4217,000 N Y Ontario & Western
40% 41
3934 40%
41% 415?
41% 41%
41'"4 42%
Norfolk
&. Western
97
*97
99
88% J’ly 26 108-% Mch 21
4,000
9738
96% 97
99%
98% 99%
98% 99
Do
2
88
Feb
adjustment
*.___
93
pref
*83
93
91% Mch 16
93
93
*S3
Northern Pacific..
111% Aug 3 145% Jan 3
116% 114% 116% 114% 115% 113% 114% 112% 114% 112% 1131
100
Oct 13 118% Jan 21
*100
10S
110
*100
110
110
*100
108
*102
110
*102
Do 1st pref..
*90
no
*90
110
*90
no
110
*90
no
*90
110
Do 2d prel..
105
Feb 14 118 Jan 3
*100
no
no
*100
no
110
110
*100
*100
no
*100
*15
20
109% Jan
Jan 10
Jan 5
Jan
8
94
Jan
7
82% May21
202% Nov
70
312
Highest
Mch 8
162% Feb 23
Apr 25 §170% Feb 18
5% Jan 4
May24
12% Jan 4
Sep 28
92% Mch 18
Nov 1
Sep 14 104 Jan 15
J’ly -6
05% Feb 25
8 >
Men 4
J’ly 27
81
Jan
6
Aug 1
J’ly 20 185 Jan 3
J’iy 26 C29 Mch 21
52
3
Jan
J’ly 26
102
1,000
aterboro-Metropoiitau
18,400
Do pref
14,000
1,125 Iowa Central
Do
pref
1,830
”2,825
10
17
72%
124‘s
104%
137%
119%
Apr 28
02% J’lyi26
45
36
...
*83
Rro
144
Sep 2
137% j*tr 26
203
J ne27
.
78
*62%
64% Jne27
19
J’ly 26
40
J’ly 26
H334 J’ne 30
Do pref
§160
Chic Un Trac ctfs stmpd
21Do pref ctfs stmpd....
47g
61
200 Cleve Cin Chic & St L
Do pref
99
46
450 Colorado & Southern
Do 1- t preferred
70
Do 2d preferred
70
149%
2,400
e aware Lack & West499
23%
12’670 Den ver & Rio Grande—
94%
139%
94%
Feb 26
48% Feb 25
9034 J’ly 2o
*97
J’ly 1
102% J’ly 26
100% Seu 6
87% Sep 10
68% Feb 7
173- Feb 8
60% J’ly 20
248 J’ly 26
Aug 2
65
23% J’ly -6
_
Do pref
Chic St P Minn & Omaha
35
120% 121%
pref
4,000 Chic Gt Wes!; trust c*tfs__
Do pref trust ctfs____
615
55,280 Chicago MJlw & St Paul..
Do pref
1,385
6.810 Chicago & North Western
....
129% 130%
18% 19%
51% 53%
§19
19%
31% 31%
*75
76%
30% 3C%
6538 653$
771
*62%
12234
§12%
*21%
2634
44%
*125
135
30%
44%
69*4
*93%
13134 131%
1834 19%
51% 53%
19% 19%
33»4 33%
*75
66%
22%
57,800 Atch Topeka & Santa Fe
Do pref
1,400
1,300 Atlantic Coast Line RU..
8,325
280
79%
40
120% 121%
56% 57%
*13% 14%
94%
*125
*265
81%
64%
*93
I
*
28%
46%
36%
122%
58%
13%
70%
280
.
Lowest
Highest
25
AnnDo
Arbor
pret
90
7334 751191% 193
*62
70%
75%
192% 193
...
*6l2
115
104% 105%
*22%
124%
*14712
114
10434 1053g
_
*23
*46
30
70
1001-
99%
101% 101%
9934 1005s
193%
70%
*G2
*25
*65
101% 101%
113% 115
*62
70%
*62
70% *62
*265
285
285
*270
*270
285
84%
79%
80% 82%
847s
81% 83
*30
*30
40
36
40
40 '
*30
*
*_.._
66
*_
66
66
*_
66%
22
22
22%
2334
23%
22% 22%
*44
48
45
45
*45
47
447g
47%
125
123% 122
123% 120
122% 124% 122
1471
150
146
146% 146% 146% 146% 145
144
150
144% 144% 144
14584 144% 145
*
210
*190
210
*190
205
210
*135
150
*135
150
150
*140
150
*135
*160
170
*160
170
170
*160
170
*160
3%
31
3%
*2%
*2%
3%
*284
*234
*6
*6
*6
8
*6
8
8
Si2
67
*64
69
67
67
*64
67
*64.
105
105
110
105
*98%
*98%
*98*8
*98%
GO
591
*59
*58
59
*58% 59% *58
*74
*74
77
*74
77
*74
76
77
*72
77
*72
76
77
77
*72
*72
166
169 b-165
170
168
164% 165% 160%
575
*500
*500
575
*500
575
675
*500
33
25%
3034 32
30% 30%
27% 30%
285
*30
100% 101%
101% 101%
1153s 116
105% 106%
89% 89%
75
76%
101%
101
117
*25
*65
30
70
*25
*65
1007g 10178
194% 196%
70%
*62
*275
30
70
*25
*65
Range for Previous
Year (1909)
On basis
NEW YORK STOCK
EXCHANGE
Week
Shares.
Friday
PAGES
STOCKS
Sales of
the
STOCKS—HIGHEST AND LOWEST SALE PRICES.
Saturday
TWO
....
But
Ask
285
240
210
990
315
295
225
250
230
350
246
190
625
220
Banks
Bid
Prod Exch
f
Reserve
Seaboard
Second
Sherman
State !]
12th Ward.
23d Ward..
Union Exc.
W ash H'ts H
West Side 11
Yorkvtlie fl.
_.
....
325
230
260
105
240
355
255
200
....
162
105
400
400
135
275
Ask
425’"
140 "
140
172%
276
650
500
Ex-dlvidead and rights, h New stock.
y 3d paid.
price,
t 2d paid.
1496
New York Stock
STOCKS—HIGHEST
Saturday
Monday
Nov. 28
Nov. 28
*834
10
33
33
33
69%
6934
66l2
*44
*90
10H
♦3712
38
*92
94
691 *>
44
*414
*2234
*1812
47g
2334
19
*12
*32
13
*414
*2112
I8I4
*1214
*245
*100
46
...
102
48
*11712 119
II6I2 11634
142% 142l2
951o
35
95l»
3518
9414
42
325g
94I4
*4112
3134
6234
134
6234
134
*9l2 11
*29% 30
343S 345g
*10514 106
34% 341511
*4lo
13434 135 “
16% 16*f
*78
*65
8
75
3314
3314
*15
*42
20
57
15934 160
83e
8I4
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*111
116
*34
75
33
*60
20
*15
*45
5614
113
12114 i2H4
*5
17
13
51"
17 “
55%
57
131?
43
44%
84% 85
106% 107%
18
87
587s 5S7S
*10512 107
*2014 2012
*7412 76
60'8
62
32
32%
*4412
45
*10534 106%
*89
*20
35
97
102
92
*74
111
105% 105%
19~8 20%
73% 73%
60% 61%
32% 3334
43% 44%
105% 106
104
19%
5534
1978
72*4
61
32*4
42-%
105%
92
19%
70
70
32%
33
*96
97
32%
20
55
*89
19
*68
32%
*95%
1061
3%
32%
85
78%
1043g
*121
*10
*45
37
106%
3%
32% 32%
85% 85%
73% 76
103% 1037g
*2
...
102
40
31%
92%
38*4
29%
61%
93%
39*4
313s
57%
GO
*9% 10
*29*8 30
3178 327s
105% 105%
30% 31%
*4%
5%
130
15
77%
*60
31%
31%
20
57
*15
*45
132
15%
77%
70
31%
20
55
16
13%
56
*55
551? *54
56
41% 42%
43%
41% 42%
85
*83
*83% 851 o $85
85
10578 106% *104% 104% *104% 105%
*90
90
92
90
90% 90%
*74
§74
74
75
74% 74%
55%
42%
851
92
75
111
111
*105
111
110*4
121% 121%
*120% 124
17*4 18
18
87
*82
87
561?
55% 56
" *103% 106%
19% 20
69
70%
60% 61%
33%
3234 33%
43
43%
43%
106
105% 10534
104
20%
72%
61%
92
19
70
§88
*67
31
55%
19%
73
60*4
60*4
32
33
42%
70
$67%
96
69
*61
69
61%
3034 31%
42% 42s4
104% 104%
43%
105%
92
181"
*87
92
1734
6878
67%
30
30%
*94
95
*162
164
*llo
4
30
94
163
18
—
*88
*7
*56
*104
*101
*17
92
9
60
*89
*7
*58
102
♦100
♦17
*56
100
$97
92
9
60
104
103
18
60
97
*....
*4%
70
*67
70
*16
17
$5814
*95
84%
*110
*72
105%
104
18
5814
7l2
*4%
*15
34
34%
10978 110
111
75
*72
*152
72%
72
123
75
76% 79%
117% 117%
46% 49%
6034 62%
*121
124%
79% 80
II8I4 H8I4
4914 4912
6212 6212
*121
7%
17
35
124
162
72%
72%
$155
155
71
72
67% 71
*122% 124
123
*88
*7
*54
101
*99
92
9
60
101
102%
*16% 17%
*551?
95
♦66
4%
*14
34
*88
*7
*54
*101
*99
16
58
95
71
*55%
*94
*66
4%
*14
*109% 111
109
*72
76
150
67
69
16%
*15
71%
*122% 124
33%
$15,
32%
92
9
*101
*99
*15
103
*93
*67
100
71%
*73%
116
1,200
1,350
7%
*4%
32%
*15
32
72
*65
75%
72%
117
75
75
115
116%
45% 46%
48%
45*8 46%
60
61%
60% 61%
123 1*121
124% *121
60*8
124%
145
71
$153 144% $145 *140 150
71%
70% 70%
70% 70*4
67
67*4 69%
67%
67% 67%
*120
124
*120
122% 122%
124
90% Jan
3
24
89
J’ly 13
J’ly 26
Apr
J’ly
J’ly 27
103
•
6% J ne .0
J’ly 26
jan
Jan
1234 Feb
38
Feb
Feb
65
5
33%
10
3
82% Nov 22
39% J’ly 26
72‘«Jau 3
120 Meh 9
691 Mch 9
107
Oct 13
w.o
Jan 4
Jneju
62% J’ly 26
Aug lu
I
'entrat Leather...
V'
Ho pref.
Colorado
Fuel A Iron
9,180
!
300
J’iy 26
J novy
8
J’ne
28
8
25% J’ly 26
99% J ly 27
22% J ly 26
3
Sep 12
322
J ly 26
llio J'ne 30
70% J’ly 26
55
Apr ^0
25% J ly 26
J2
Oct 26
37
Oct 27
134
J’ly 26
*7% Oct 14
Col A Hock Coal A Iron”
15,480 Consolidated Gas (N Y)!
4,850 Corn Products Refining..
Do pref
1,700
Crex Carpet
4,350 Distillers’ Securities Corn
Federal Mining A Smelt'?
Do pref..
10,100 General Electric.....
dGoldfleld
Con M.Par $15
16,600
nt Harvester stk tr ctfs
9,310
,83% Feb 8
Do pref stk tr ctfs
425
*117
Aug 11
200 Int Mer Marine stk tr ctfs
4% J
*
Do
13,950 Intemat Steam
250
Do
9
Pump!..
pref........
cas (St L) com..
300 Mackay Companies.....
Do
pref.....
225
400 \] ationai Biscuit
Li
Do
300
pret
600 Nat Enamel'g A Stamp’g
Do pref
6,500 National Lead.....
Do
pref
13,030 dNev Cons Copper.Par 55
940 New York Air Brake....
1,800 North American Co. new
6.400
......
aciflo Telep A Teleg..
1,410
2,700 People’s G L A C (Chic).
10 Philadelphia Co (Pittsb’h)
2.400 Pittsburgh Coal Co...
Pacific Mail..
941
Do
pref
...
1,900 Pressed Steel car.......
Do pref
450
279 Pullman Company......
919
200
"
8,200
2,150
400
2,600
Quicksilver Mining
l)o pref
1) ail way Steel
Spring..
It
Do pref
Republic Iron A Steel
Do pref
Sears,
A Co...
RoebuokSteel
loss-Sheffleld
A Ir
Do pref
8,200 dTennesseeCopper Far $2 5
1,175 Texas Co (The)..
Texas Pacific Laud Trust
Union Bag A Paper....
Do pref
100
I.
500 United Dry Goods Cos
550
210
110
""’166
40
2,900
715
300
1108602
Do pref..
U S Cast I Pipe A Foundr
Do pref..,
United States Express..
U S Realty A Improvem’t
U S Reduction A
Refining
Do pref
United States Rubber
Do 1st pref
Do 2d pref
United States Steel
41%
36%
78%
9334
2,930
6,700
200
\JL/ells Farro A Co
* *
4
48*4 Jan
3
109% Mch 8
60
79
J iy
_
_
estern Union
Teleg..
Westlngh’seEi AMfg assen
Do 1st oref
86%
Jan
Jan
Jan
Jan
Jan
65
Nov 22
92%
160%
23%
Mch 8
88
Jau
3
]U9%
5% J’ly
73
122
lit;
May
Feb
93*%
Jan
18
Feb
Jan
29
Feb
47
17% Dec
23% Jan
26% Men
99% Apr
Feb
45
32I"
55 “
80
Jau
Feb
Mcb
Feb
Nov
May
Nov
Sep
Apr
Sep
May
1U4
Feb
Mch
$3734
1834
40!2 Aug
107% J’ne
554% Dec
36% Sep
69% Sep
164% Deo
19% Deo
Nov
37
6134 Oct
111
Sep
63
Dec
Wi%
165%
26%
93%
Dec
Jan
J’ne
J’ne
63
Dec
41% Jan
96% May
94
32
84
145
10
96i 2
7H4 Feb
10234 Apr
8
17
1/
"8o”"Feb
3
29%
Feb
46%
101%
Nov
Jan
99 io
10 “
Apr
Dec
Feb
3U% Feb
96
Feb
169
Jan
45g jan
40
Men
3
321? Mch
97% Feb
16% Feb
67%
Feb
68
Feb
107% Feb
133% Oct
8012 Feb
9% Feb
Jan
06
116
rl09
243*
V0
82
64
4
Jan
3
Jan 10
Jan 10
4
11
Jan 14
29% Jan 3
£2% Jan 3
116% Jan 10
73
al95
Jan
72
Jan 17
Jan 3
125% Jan
$60% Jail
66% Oct
129% Jan
Jan
118% J an
12% ^eb
82
Jan
3
18
May 13
Jan
Jan
Mch
Mch
Feb
69% Jan
5
17
84% Jan
84
81
Jan
10
24
27
98
3
3
3
6712
41%
107
6
$39%
40%
21
114
57
300
64
74
110
4
Jan
Jan
8
4
78% Mch 4
82% Jan 3
130
Feb 24
128
J iy
821? Jan
104
J’ne
70
Jan
Jan
113% Jan
144% Deo
66
J’ly 26
49% J'ly 26
26
'%
is%
9%
47%
33%
ff'ia
13% Jan 10
61% J’ly 26
Feb
uu%
Nov
Aug
Aug
Jl;>%
7% Jan
95
4
J’ne 27
13
J’ly 8
27
J’ly 26
99
J’ly 26
59!" J’ly 27
IU51"
77% Feb
Jan
116%
Mch 4285
Mch 105
34% Feb
66%
115% Nov 136%
118
Nov- 131
125
Feb
145%
lui
22 >
95
Jan
J’ly
96% J ly 26
6434 J’ly 26
92*% AUg
”b2
4
Feb
J’ne 28
Sep
69
Jan
109%
Jan
43% Jan
46% Jan
J’ly 26 116*8 Jan
S4
J’iy 6 10612 jan
13
j’ly 26
27% Jan
85
Jan
60% J’ly 26
25 J’ly ^6
51% Jan
90
J’ly 27 107% Jan
155
J’neiy 200 Jan 11
2
Sep 26
0% Apr 5
2% Aug 2
5% May21
28
J’ly 26
£1% Jau 3
*90% Sep 7 107 Jan 17
J'ne 4
27
4578 Jan 3
82*4 J’ly -6 104% Jan 3
160 O’ne30 190 Nov 12
48% J’ly 30
66% Jan 3
114
J’ly 5 118% Feb 1
$19*4 J’ly 26 $40%Jan 3
134
Oct 7 144 Oot 18
49
Nov-
38
80
69% Aug
Aug
J no
J22
j 1%
129
1U3
“
99% Aug 2
14% J’ly 21
J'ne
473* J’ne
20
Feb
Feb
49
Sep
Aug
42% Apr
17234 AUg
84
96
10
617*
Feb
J’ly 27
7s% Oot
Aug o llo Jan
11834 J’ly 6 125 Jan
14
Sep 17
28% Jan
84
Oot 17
96% Jan
46U J'ly 25
89*8 Jan
1013j J’ly 26 110% Jan
*17% J’ly e $22% Oct
59
J'ne 6
95% Jan
62J o
Dec
6% Feb
Feb
18% Jan
12
Feb
29
Jan
iaofg
1
8
6
Deo 2
Aug 2
Feb
34
i
J’ne
NOV
100% Jan 6
$9% Sep 26
12o%Jan i0
71
100
83
6
so
76i»
107% NOV
iu*z
10%
60
15',. Nov
Jan
73%
30% Jau 10
Get
98
124% Aug
79% NOV
21% Feb
114% Feb
J’ly 26 ol>2 Jau
J’ly 26 64% Jan
Jly 26 90% Jan 17
J’ly 29 116% Jan 10
J’iy 26 98 Oct 10
9.306
pief
HTT-I j*.
110% J’ly 26
28,600 dUtah Copper
“
Par $10 U3938 J’ne 30
12,236 Virgin! a-Carollna Chem_.
47
Feb 3
Do pref
100
117
,
J’ly 28
V irglnta Iron Coal A Coke
50
Sep 24
820
Jan
12*8 J ly 26
3,540 Laclede
340
3
3
33
Jan
107% Feb
42’% Jan
9*
-•.05
jan 19
164% Jan
18% Jan
jiy 26
pref
2,011 International Paper
Do
prof....
1,150
350
66
16% Aug
67% Nov
16% Nov
60
Aug
103
Aug
49% Aug
Feb
44'd
Nov
260
95% Jan
20% Jan
82
Jan
7% Feb
71% Feb
47% Jan 10
95% J’ne j5
?3<> Jan
Highest
i»o
4v% Oct 21
62
49
125
10,150
17
32%
j^ethlehem ^Steel
Brook!ynPtfa!on~Gas
Brunswick
Sfe!
70
7%
5
3
109
Term A Ry
Butte rick Co
102%
16%
55% 55%
15
Nov 23 $270 Jan
15
Jan
7% J’ly 21
Aug 5
6484 Jan
....
52%
% 108% ♦1087* 110
$108%
iff* iIUS
123
52%
70 ‘
*4%
7%
*88
*7
56
100
♦98
*66
110
72
45*4
60%
102%
16%
56
58
100
77
17
72
77%
117% 117%
46% 48%
60*8 61%
*121
124%
150
71
♦100
*99
32%
75
92
9
60
103
.11
102%
*4%
17
34
*88
92
9
60
103
Lowest
_
6878
.
Highest
....
31
94
163
*1621"
164% 164% $163
163
*
“ "3%
4
*2l4
4
*2%
*1%
3%
*4S4
5%
6%
*434
*4%
5%
*434
5%
*434
55s
34
34
34
34
32
33% 33%
33% 33%
32%
3034 3178
*9612 99
96% 9734 *9578 97%. *95
97% *95
97% *95
97%
33
34
33
*3414 35
31
33%
32% 33%
31% 32%
32
99
96
*97
96
96
96%
95% 96%
94% 95
94% 94%
185
*182
179% 182
178% 178% *179 1821" *176% 180/ *176% 180
*51
50
5212
49% 51
49% 50
49
50%
49% 49%
49*8
*.... 114%
*.... 114% *.... 114% *.
114%
"37" 87% 36
37%
35% 36%
3578 36%
35% 36%
3434 35%
138
138
13734 138
136% 136% 136% 137 *136 138
136% 136%
*164l2 16512
4
*214
*434
5%
Do
Year (1909
245
*7
551.'
35
yy%
LXXXXI.
Range for Previous
HH)
Deo
§235 Aug
3% Sep 13
»%Jan 5
19
Sep 8
4/%nan 3
3,200 American Ice Securities””
16% J’ly 26
29% Mch 9
420 American Linseed
10% J ly 27
1734 jan 3
Do pref
850
~~Z~
26% J’neau
46% Jan 8
4.700 American Locomotive!!
29
J’ly 2G
62% Jan 3
Do pref
325
102% Aug 6 115 Jan 7
500 American Alait Corn!!"’
8
Feb 18
Dec
1
3%
Do pref.
800
2«i-> J’ne.;u
48
Mch 21
450 Amer Smelters Sec
82
J’ly23
"pret ~B
907gjan 3
125,100 Amer Smeit.ng* Refining
J’ly
26
104
6is«
Jan 3
Do prei
2,422
«8% J’ly
1123; Jan 3
American Snuff
**"
277
Apr 4 2; 5 Apr 2/
Do $>ref
._!!!!!!! 95% Jau 13 101% Sep 20
1,800 Amer steel Found (new)” 38 J’ly 26
U3
Jan 10
6,600 American Sugar Refining 111% Oct « 128% Feb 18
Do pref
1,300
112 Oot 3 124 Feb 28
15.841 American Tetepb A Te'leg 126% J’ly 26
143% Feb 24
1,000 American Tobae (new) ,pf
90% J’ly 26
9j% Mch 14
1,700 American Woolen...
25%Jly
6
39% Mch 18
Do pref
1,950
„„„...!!!! 91% J’{y 6 104 Mch 7
4,600 dAnacondaCopper P~arlll 533% J ly 26 $54
Jan 3
2,450
21
J neac
347t Oct 21
111
122
18
87
50% 54
105% 105%
18% 19%
106
18%
31%
94%
18
87
104
*88
17
88
18%
32%
96%
*15
*82
54
*103
19
*69
*108
122
*15
*83
Agrlculturafchem!
Do pref..
200
25 American Express
American
200
Hide & Lea’ther
Do pref
100
132% 13278
153% 155 £150% 152%
8%
8%
8%
8%
10878 109% 108% 109
121% 121% 121% 121%
*4%
5%
*4%
5%
*15
16
16%
16
1278 13%
13% 13%
5%
16
13
17%
11%
30%
33
70
31%
4%
32
137
*60
121%
*4%
33
93
*9% 10
*29% 30'
32% 33
*105% 106%
30% 31*8
*4%
5%
130% 131%
15% 15%
*77% 80
70
32
20
56
156
36
*105
...
pref
2.770 American Cotton Oil
43% 44
113% 114%
114% 114%
139*8 140%
*93% 94%
94%
58
*132
17%
11%
30%
dams
100
21
*245
*100
116
1401
39%
30%
8%
109% 111
*120% 124
*15
*82
31%
37%
102
*113
141% 140
94
S434
32
34%
93
93%
*60
31
*10
*45
155
8
4%
17%
11%
A'-ijuUstrK.iExpress
u ^UsceJlauoou.
00
pret.
6.700 American Beet Sugar!
Do pref
’T,930 American Can
Do pref
13,900
12,700 American Car & foundry
9*s
77
50%
114
61
101
250
21
...
115
9434
34%
106% 106%
93
75
111
4%
23
*245
*100
...
115
140
70
*831,
*
20*2
7012
♦21
23
49%
114
60
61%
100
*99
250
*225
Lowest
1,100 Amer
94
76%
61
4%
4%
*92
9
114%
44% 45
44% 45%
115% 116% 1113% 114%
34
.
9%
77%
Range Since January 1
.
100%
36%
[VOL.
2
On basis of 100-share lois
EXCHANGE
35
431"
35%
STOCKS
YORK STOCK
200
S%
IJls-Chaliners
Do prei__._
30%
1,100
65% 128,650 Amalgamated Copper
62%
42
*84
36%
94
61
100
*225
250
*245
*100
15434 1571"
8
8%
109% 111
*121
122%
4%
434
*1534 1634
13
13%
55% 56
42*4 43%
18
87
571*
*89
92
701*
*34
*96
*15
*82
56
65*e
43%
9%
6H
*21%
1778
102
46
117
3178
15914
8I3
814
113l2
122% 122% *120% 124
*15
*82
61
*4
...
34
35
*63
32
*10
*42
157
6378
43%
77
50
*114
*98% 101
23
30%
*92
93
93% 94
93% 93*4
40
39% 413g
40%
39% 40%
3014 321o
31% 3134
31% 31%
60
62
5934 6034
*60*4 62
132
133
*133
137
13312 134
*012 11
*9% 10
*9% 10
*2938 30
*2938 30
♦29% 30
33
3278 3418
34
33% 331?
10534 10534 *105% 106% 105% 105%
32
34
31% 32%
3078 3278
*412
512
51"
*4%
*4%
5%
133
13234 13434 132% 13334 131
16
16
161?
16
15% 16
78
7712 78%
77% 77%
78%
*90
*74
111
95
75
94
*225
434
31
35%
9%
9*4
77% 79
50% 52%
*113% 115
11534 116
140% 141%
9434 95
11612
14012 14214
9484 95
110
II3I4
*121l8 1213g
*47g
5U
*1634 17%
*1384 I4I4
67iS 57is
44% 4434
*8514 86
10712 107%
*245
102
*100
46% *45
116
117
...
11514
67%
43%
31
8%
NEW
Week
Shares
250
0
18%
17%
18%
12
1234
12
11%
32
*30
31
32%
3178
37
3778 38%
36%
38*4
106% 106% 10578 105% *105
*3
4
3%
*3%
4
32%
3234 33
*32% 33
*85
85
87
85% 85%
74%
7678 78%
76% 78%
104% 10434 104 104% 104
32
34%
3212
4012 4034
3734 3914
*10612 107 *10612 107
4
*312
*312
4
33
*3312 34
3312
*87
5 8712 8712
87%
8OI4 8012
7712 801
105% 105% 105
105l4
*240
*100
*47
*8%
36%
*92
62l4
*240
245
9
32
*84
35%
250
18
*12
$245
...
65%
934
79
62i4
6H2
183.,
1234
Dec. 2
43%
115
23
Dec. 1
*84
9%
77i2
*4%
*20%
47s
Nov. 30
Friday
*878
*30%
94
*225
240
Thursday
36%
*92
51
113
Wednesday
*242
87g
3178
6778
44
3534
3714
94
$240
250
260
878
3178
6634
*4312
afcQr:
...
3512
*92
912 10%
10% IOI4
77
8012 81%
80%
5412 541
51% 54%
*11384 115 *113 115
641
*64
6234 64
*230
*242
Sales ol
the
Nov. 29
33
44
*90
45
AND LOWEST SALE PRICES.
Tuesday
$24514 24514
*834 10
250
*245
Record—Concluded—Page
Oct
Sep
9
Dec
Deo
Oct
27*8 Jan
19% Jan
6934 Aug
641? NOV
Sep
115% Deo
95% Nov
91
77% Dec
Sep
12U
130
Sep
30% Dec
99% Sep
94
Aug
113% Aug
97% N'OV
87% J’ne
48% Nov
64
120
103
Oct
Aug
Dec
29% Nov
87% Deo
Aug
56
111% Aug
200
Aug
9% J’ly
May
1U
54% Aug
109
Aug
49% Sep
110% J’ly
94% Oct
Sep
Jan
120
549
93-8 J IF
15% J ne
81% J’ne
1251" Deo
114
Deo
Feb
3512
Mcb
87%
Feb §111
Feb
87
Mch
17*2
Feb
39%
Feb
57%
Jan
123%
Feb
89>2
Feb
047g
Feb
131
Feb
£>67%
Feb
66%
Jan
128
Feb
7678
Jan ,070
Feb
85%
Feb
90
145
Mch
J’ne
Aug
Dec
Sep
J'ne
Aug
Aug
Aug
Aug
Oct
Oct
NOV
Deo
Dec
Sep
Deo
Nov
Aug
Sep
BANKS AND TRUST COMPANIES—BANKERS' QUOTATIONS.
Banks
Brooklyn
BUI
Broadway t
380
Brooklyn
Coney Isl’dT
_
First
290
Ask
405
100
155
310
Hillside^!
125
Homestead^
11a
Manufac'rs'
415"
Mechanics'll
230
Montauk
Nassau
._
-t-r- —-
245
....
1
Banks
Brooklyn
Bta
Nat Gttv
North Side |
285
153
168
150
Peoples
Prosp ctPk4]
Terminal t|.
Ask
150
270
N Y City
As tor
Bankers' Tr
Bid
Ask
N Y City
300
180
_
160
90
B'way Tr.. 145
Garnegle
f 114
Central Tr.. 1016
315
625
148
..
Columbia
Commercial
285
300
Eqult’ble 'Tr 465
Farm Lo&T 1625
310
320
Fidelity
640
Fulton
...
....
130
472%
1650
213% 217%
290
trust Co's
But
Ask
Bid
Ask
Guar'ty Tr.
800
810
180
NY Llfe&Tr 1120
N Y Trust. 635
175
300
-Savoy..
1130
650
100
Guardian Tr
Hudson
165
K nicker b'kr 295
Law T I&Tr T263
Lincoln Tr. 130
Madison
20)
Manhattan
875
Mercantile
700
Metro pol’t’n 510
Mutual
130
Mut A!'nee
125
.
1025'
280
120
..
Empire
trust Co's
245
trust Co's
.
137%
203
400
740
520
....
130'
trust Co
s
90
400
Standard Tr
410
TltleGuds Tr 510
520
Tr Co of Am 320
330
Union Tr. _t 1300%
US Mtgds ’Tr T4»0
Unit States. 1160 1190
Washington 375
Westchester 165
170
Windsor
120
130
l rust
Co's
Brooklyn
Bid
Ask
420
125
200
135
220
Brooklyn Tr
Citizens'
Flatbush
Franklin
Hamilton
Home
Kings Co
L ML & Tr
Nassau
270
103
500
280
110
300
170
310
180
People's
300
315
Que'eas Co. 110
WlUtamsb'g
126
...
..
...
._
....
...
430
210
100
♦Bid and asked prices; no sales on tins day. 4 Less than 100 shares. $ Ex-rights,
rights, b New stock c Ex-div and rights, a Now quoted dollars per
share*
tSale at Stock Exchange or at auction this week,
1 Eke- stock dividend.
1JBank3 marked with a paragraph flj) are State
banks.
Exchange—Bond Record, Friday, .Weekly and Yearly
New York Stock
Jan, 11909, the
bonds was changed, anl prices are no jo all—"an i interest”—except for income and
Exchange method of quoting
bs
o
BONDS
si
N. Y. STOCK EXCFTANGK
Week Ending Deo 9
Week's
Range or
100*4 101
100*4 101
101*4 1024
101*4 102 4
8 2b consol registered.c(193u
S 2b consol coupon....<11930
8 3s registered
fcl9l8
8 3s coupon
fclOlti
8 3s oou small bonds../cl9l8
8 4s registered
....1923
8 4b coupon
1923
8 Pan Can 10-30 yr 2s.kl936
Foreign Government
Argentine-Internal 5 s of 1909
Is
High
1164 Sale
1154
100 4
100*4 Oct’10
100% J’ne’lo
101*4
Nov’lO
Nov’lO
102
1014 J’ly’10
115 4
1154
1154 Nov’to
100% Aug’10
....
....
....
100% 100%
....
F-A 1
J-J |
944 944
94 4 93
94
94 4
95
89 4
32
7
94
City Securities
N Y City—41*8
I960
4% Corporate Stock
ls>6U
4°o Corporate stoca ....1058
Stale and
1957
in 17
4% Corporate Stock ..1957
4% asaessmt bonds....1917
4% Corporate Stocic....l957
N Y state—Canal Impt 48.1960
So Carolina 4 4s 2U-4o
193o
Penn new settlement 3s..1913
Virginia tuno debt 2-3s...l99i
4
4
1004 Sale
.%l.N
M-N
Al-N
M-N
M-N
M-N
M-N
J-J
w-J
J-J
J-J
986s
Sals
100*8 Hale
1014 102 4
1064 sale
101 4 102 4
984 984
lU45s 104%
104
*
95%
*884
97
35
45
ctfs.
Chatt luv pur men g 48.1951
Mao A Nor Div 1st g 68.1946
AIM Undo Atl Div 6s....1947
Mobile Div latg 6a
1046
Cen titidb B of Ga cot g 5a 1937
J gen’i gold 58.1987
Registered
/i 1987
Am Dock<& imp gu 5a..1921
Le A Hud R gen gu g 5s 1920
Leh A Wilks B Coal 5a..1912
Con ext guar 44s....jrl9lu
N Y & Long Brgen g4s 1941
4nt Pacuio
bee So Pacilio Co
lentVermont 1st gu g 4s.el92u
!has & nay bee Atl Coast Line
idea A Ohio gold 6s
al911
Gen funding & impt 6s. 1929
1st consol g os
1939
J-D
J-J
J-J
97%
05%
96 4
04
934 95%
7 88% 92 4
8 101%104
7 1195
974
11
95 4 99%
02 4 97 4
asis of $5 to &.
140 100
101%
1U6
00
100%
5
98 4
99
00% 100 4
13
105
4109%
1064
1064
102 4 103%
103
Oct’10
1064
1064 35 105% HO
102
Nov’10
102
103%
984
98*4 15 96% 100 4
104%
104% 4u 101% 1054
103 4 103 4
it34J’iy'io
96
Oct‘10
94% 96
87
88
Nov’lO
90%
11
39
37
66
37
....
....
....
....
Aaaba
Albany A Susa
bee Del A Huu
Allegheny Valley bee Penn KB
Alleg A West bee Bun K <& P
Ann Arbor 1st g 4s
41996
4tell T A 8 Fe—Geu g 4s. 1996
Registered
1996
Adjustment g 4s
41995
Registered
41996
Stamped
41996
Cony 4s issue of 1909... 1955
Uonv g 4s
1956
Couv 4s (issue of 1910). i960
10-year couv g 6s
Iul7
78
79
984 Sale
A-O
No\
90
%-J
Atlantic Coast 1st g 48.41952 MS
Ala Mid 1st gu gold 5s ..1928 M-N
Bruns A W 1st gu g 4s.. 1938 J-J
J-J
i A N coll g 4s
01952 J4-N
A-O
Say F A W 1st gold 0s..1934
1st gold os
1934 A-O
J-J
Sil
?harles A Say 1st g 7s..1930
90
General gold 6s
1937
Pitts Ciey ifcTol 1st g Os 1922
Pitts A West 1st g 4s...1917
8tat 1st Hy 1st gug44s 1943
tSeecu Creek bee N Y C & H
Beilev At Car bee Illinois Cent
88
02
89
105
100
98
90 4
....
91
1054
9
2
14
102 4
l
90
106
95
02
94%
117
122%
104%
....
....
....
94
Sale
04
934
8
92
96%
lo7%
94%
94%
180
80
05 4
II”
112
05
' 1V2"
....
14
90
934.....
128
91% Sale
124
110 4
91*4
....
95%
924 Sals
98
Sals
99‘4
111%
90
92%
914 1
UObl
9l% «14
b7*4
914
90
90
90 4
71
97*4
120
Hale
884
984
M-S
101%
103%
A-O
A-O
J -J
J-l>
103
93
ibo%
99 4
96
1
90
87% 894
b
1913
8U4
103
....
....
....
112
112
.....1946
1stpret income g 6s....2)1046
Stamped
6s....pl945
122% 124
n
j.j
M-N
121%
108
....
100 4
....
1004 Nov’10
Sale
100
93
99
A-O
J-J
94%
80*4
1U2%
bl
95*4
100
....
*
96%
'
96
108
1164118
115 4
>
73
....
103
■
.....
116
<
....
11641
ti
Chio <fc MoRiy DlV 5s...1920
Ulilo A P W 1st g 6a
1921
Dak A Gt Bo g 5s
1916
Far A Hou assu g 6s
1924
Lacrosse A D 1st 6a....1919
Wls A Minn Div g 5s....1921
Alii A No 1st COhS 6s....1913
Extended 4 %s
1913
Chlo& x\orthw cons 7s....1915
Extension 4s
1886-1926
105
06
109%
994
116
i 17’
....
N 4s
O 4s
P 48
4105%
100% 101%
..
109% 1184
2! 103% 109
107
Sale
107
106*4
u
i
M-N
Oct
90
90
OCI
874 884
87 4 884
84
84
91
91
85
85
90
90
23
90
:
88
88%
84*4
>T’li
88 I 30
....
......
91%
904
884
82
84
75
3 1 75
10 1 75
>1... 1 80
1
l
88%
80%
*5
Bklyn Un El let
g 4*6a.l05o F-A
Stamped guar 4-6S....1950 F-A
Kings Co El let g 4s....1949 F-A
Stamped guar 4s
1049 F-A
Nassau Eleo gu g 4s....1951 J-J
7onn Ry <£> L let A ref g 4 4s '51 J-J
Stamped guar 44s
1951 J-J
Det United 1st oon g 448.1932 J-J
Havana Eleo consol g 6s. 1952 F-A
A-O
Ster-Met
4 4soonv 0s. 1911
1966 Mn
ter Rap coll
T a-yr
M-N
45-year 5s Series A.....1052
Internet Trac coll tr 4s..1849 J-J
Manila Eleo 1st A coll 5s. 1063 IM-S
this week.
1084 1034
824 Sale
102 4 103
102
101
101%
1014
84%
84% 854
77
„....
101%
102%
1034
83
102
Nov’10
08
98
1014
101%
1014
101%
82% Noy’10
84
Noy’10
78
78
1024 Mar’lt
101% Aug’ll)
82
1 101% 106
88 70% 87
1004 104
...
974 99
11
2
20
99
103
99% 103
82% 85
80
86%
70
82
102 4102%
100 4
80
U Flat. aDue Jan
d Dne Apr
5
87*4
88
Sale
100%
96*4
96% salt
loo 4 sale 100
bl
B3 4 83 4
123 4 1274 121
4
97%
100 *2
83 4
J
J
J
J-D
S-F
F-A
F-A
M-N
M N
M-S
A-O
A-O
M A St L 1st gu g 7s..1927 J-J)
Choc Ok A G gen g 5s .oiPiv J-J
Consol gold ds
1952 M-N
Keok A DCS Ai 1st i»S.,..1923 A-O
Jhic hi d A N O bee ilk Cent
Jhio St L & Pitts bee Penn Ce
JhiO St P A1 <& o con 6s...1930 J-D
Cons 6s reduced to 3 4s. 1930 J-D
100
8*4
9o 4
100
9b
100%
UO
17
117
U2 4**6’02
1184 Nov’10
i
b*
100
1054 10b
110%
1*13**
96 b* 101
954
87
964
90
v
110% 111%
105
100
105
106% Nov’10
'106 iVLar’io
1074 105% Nov‘10
1004 teb’iu
110 |109
sep’10
109
93%
103% 1054
jlll4 aov’09
109
J'ly’ob
1154
1164
Nov’lO
109
89
104
934 Apr’09
110*4 sep'lo
116 4 Hale
85%
914
107% 108
107
110%
lu5% iU8*4
1024 103%
U6% 116*4
......
106
112
102% 103 4
9b
1004
...
1U5%108
4
100
100%
92 4 94
...
103-a
99
84
874
12141294
31
Oct’10
Deo'cm
J’ne'io
92
92
4 Oct '10
lo2%
102% 102%TU2%
99
Sait
9J
98%
1034 Oct '08
874 88% 8 8 Nov’lO
92
93%
93% 93%
lo7% Mar'iu
105*4
108 4 Oct ’10
♦ 107%
107
^07
100‘s 107
102 4 104%!103 % Oct '10
117*4
mo** May’10
1064 aov’Iu
104% ...
106
105*4 Aug 10
1U3% Aug’lO
103*4
10o% 1004
112
110
111
Nov'10
99
Nov 10
994....
95 4 * *y’io
99
98
Nov’lO
87
90
110 "
75
9b %
86 4
87 4
98 4
10b% 113
li;5
114
100
1114
77
100 ‘a 102
bl
bG
121
127
85%
84%
84*4 Sale
126
110
95
•7 4
Oct 'lo
110
87 4
70
6b %
100 4 102 4
96*4 100
J’iy'iu
1094 1104 110% Nov’lO
114
May’O’J
108 4
99
93
88
101
I0i% 104%
l‘i
101
101
102
on
109 4
106
107
1004 1064
109
1114
1144U74
109
112%
118% 1184
100%
1034 d»y’09
109 4112
109%
110 % Nov’lu
109
100
......1104109 A.ug’10
944 99
97% 97% 97
97 4
98% 98%
yg% Feb’lO
92
»9 •«* 233 80
894 Halo
bb%
974 97%
97 4 J’ly’iu
944 944
94 *s Jan *10
Deo ’09
944 944
94% Alay’lO
934 Aug’09
220
66% 83%
73
V4
7034 May’lOj.... 76% 80%
90
94
Nov’10.... 03
11141144
113 4Nov’10
1204 Alax’u3....
105% Oot’10L... 105% 100
94
95
73
Sale
94
110
....
1044
104
Alay’lU .... 104
1084Oot '10;.... 108
.
100
108
103
loi
101
110
Feb’io1.... 1034104
|
!
123
123% 124% 126% Oct ’10
85
93
Dec’03
1274
Next Page.
Street Railway
Met St Ry gen col tr g os. 1907 F-A
Ref g 4s
2002
R way A 7th av 1st o g 5s 1943
Col Jb 0tll Av 1st gu g 5s. 1993
Lex Av A P F 1st gu g 6s 1093
Third Ave RR con gu 4s 2ooo
OentTr Cocertfa stmpd...
Third Ave Ry 1st g 6a.. 1037
N Orl Ry A Lt gen 44s .. 1936
St Jes RyLtH A P 1st g 5s ’87
bt Paul City Cab con g 6s. 1937
82%
101
M-S
M-S
97
J-J
67
50
j*-*J*
J-J
M-N
JJ
A-O
M-N
J-J
* Dae May
pDneJ’ne ADue
78
Nov’lO
48
Oct '10
101
108
101
984
98% 98 4
3
5
984
604
10
754 77
A-O
J-D
Trl-Olty Ry A Lt 1st s f 5s.l9 23
93
004 Underground of Lon 5s...l02o
94% 96%
77
83%
44s
1933
79% Sale
Income 6s
1048
1004 100*4 1004
1004 10 100% 104
Uuion
£1
103% 1454 100 103%
(Chlo) lBt g 5s..1945 A-O
103% sale 103 ‘
United
«74
074
G7 4Mar’10
Rys St L 1st g 48.1034 J-J
United RRs San Frsf 4s. 1927 A-O
08
May’06
J’ly’io
96% Nov’10
794
8o% 550
«o
2
1044
80
Railway
g 6s
1945
1st refund conv g 4s....2002
BkCity 1st con 6s.1910.1941 J-J
Bk tj Co A S con gu g 5s.l041 M-N
99*4
.....
1918 M-N
.
lu
89
88 4
94 4
90 4
»!
70
Oct *U9
Sep'10
99*4
99*4
1U4 4
104*4
104*4
99%
9941004 99%
99
98%
98*4 eale
101 ‘8 51 a i’09
**97**::::: 97*4 Aiuy'ib
1934
ORIP& N W 1stgu6s.l921 A-O
....
75
99%
1910 M-N
1917 isn-N
Registered
1114
7u
Sait
99% sale
87 *4 sait>
1988 J.J
1934 A-O
Chio R 'lA Pao RJfct 4s"‘2O02
2002
Registered
R1 Ark <fe Louis 1st 4 4s 1934
U
Bur
ttdi A—- 1st g 68.1944
100 4
95
Oct’iU
73 4
73*4
b6*4
99% 100
Coll trust Senes J 4s....1912 M-N
At is
1916 M-N
23 102
87
83
104
Sep'10
113% ceo’bo
74%
70
1921 A-O
1921 A-O
1933 M-N
Registered
1933 M-N
Mil LS & West 1st g 0s 1921 M-S
Ext A imp s fund g 5s 1929 F-A
Ashland Div 1st g 6s.. 1925 M-S
Mioh Div 1st g 6s
1924 J-J
Incomes
.1911 M-N
Chlo Rock isi«& Pac 6S...1U17 j.j
Registered
1917 J
General gold 4s
1988 J.J
Registered
Refunding g 4s
101% 101%
89
95 %
1
....
J
J
J
Registered.......1886-1926
1987 M-N
34s
Registered
_pl987 Vi'-F
Sinking fund 6s...1h79-1929 A-O
Registered
1379-1929 A-O
Sulking lund 6s... 1879-1929 A-O
Registered
1879-1929 A-O
JUMCELl^ASEOUM BON DS—Continued
Brooklyn Rap Tr
J
General goiu
110% 116%
72
72
....
72
102% Sals 102%
1014101%
M-S
5s stamped
113% 1164
....
106
Registered
ai98U
Generalg 3 4s series B.el989
25-yr deuen 4s
1934 J-J
chlo A L Hu DlV g 6s....1921 J-J
2*i
376!
91
93
73
J-J
A-O
M-N
M-N
J-J
Louisv N A A Ch 1st 68.1916 J-J
Clue Ind A Sou 50-yr 4s..l960 J-J
ChicAliidffHtFtormgba 1914 J-J
General g 4s series A..*1989 J-J
101%
1014
101% J’ne’10
94%
95
Halt
bb%
89% 88%
87
bd*4 Nov'lu
104 4 !9ep '16
90* 90 Jan’09
96 4 96 4
96 4
91 %
101
90
M-S
Refunding gold5s.......1947 J-J
102
110 4 114%
112 4112 4
99
103 4
41
ibl 4 8aJe*
M-S
<j
98
88*4
M-N
-
98
36
99
1014
105 4
M-S
J
1014
1004
100
J- j
0a...l94<
10U 4
ioo
87% Nov’lO
M-N
A-O
Registered.....
1937
Chic A ind C lty 1st 6a. 1936
Chicago A Erie bee Erie
Chic Gt Western 1st 4s...1959 M-S
May’10
100% 100 Nov’lO
Nov’lO
103
1014 103
112%
112
Hale 112
112 4 Jun ’le
90
J-J
F-A
1949 j - j
1949 J-J
1949 J.J
Southwestern Div 4a.... 1921
J oint bonds Sec Great N ortb
Debenture 6s
1913
General 4s
1958
Han A StJosconsol6s..i9il
Mncdb E illref ds impg 4s 1955
1st consol g 6s
.1934
General oonsol 1st. 5s.... 1937
108
85
Q-F
Greenbrier Ry lstgu g Is *40
3a...1949
Railway 1st lien 34a... 1950
Registered.....
195o
JhioBuriAij—DenyD 4*1922
cuic ln*fc Cfouiav rei
....
High
Low
110
110
102
103
1 120
125 4
43 1204126
109
J 107
121%
121%....
Sis
M-N
M-N
M-S
116
110
108
100
Regis tered
*
Sinking fund deb 5s
......
107 4 109
3a prei income g 5s....pl943 OCt
8d pref income g 6s stamped,
J-J
Nov’05
Jan’10
102% Noy’10
132% 122%
Debenture 5a
....
1114115%
Jarb A Shawn See 111 Cent
Carolina Cent bee 8eab Air L
Carthage A Ad bee N YC&H
CedRlaFdbN bee DC RifeN
Cen Branch Ry bee Mo Pao
Cent oi Ga RR 1st g 6s..2>1945 F-A
Consol gold 5s
1945 M-N
•No price Friday; latest
107
Mac A Alt RR ret g
89
89
bee Long 1
Bur U R A N bee 0 R f A P
J-J
( ian 8o 1st ext Os
1913 MS
W2d 5s
1913
Street
....
102
Potta Creek Br 1st 4a..1946 j-j
R A A DIV 1st con g 48..1989 J.J
2d consol g 4s
1989 J.J
Warm spr Val lat g 5s..1941 M-S
93
92%
894 90 4
103
103
109% 113 4
9
6
109%
96 *4
80
97 4
97%
....
112
>
F-A
J-D
bee Atl Coast L
Budalo N Y & Frio bee tine
■luhaio lidji* gen g 6s...1937 M-3
Consol 4 4s
........1957 M-N
All A West 1st g 48 gu..i99b A-O
Oi A Mah 1st gu gos....l943 J-J
Rooh A Pitts 1st g Os...1.921 F-A
Consol 1st g Os
1922 J-D
Bud A Susa 1st ret g 4s.ttl951 J-J
2u prei income g
2d pi et income g
8
....
J
A-O
91
J&b’lO
834
974101
08 100
109 129 lU4% 122%
9b% 08%
y«% Jan’iO
98 4 08 bi
98 4 Feb’10
07
Apr’lb
97%
97
96%....
1
9U 4 93
02
94%
92*4
92*4
109 4109% 1074*7’iyl0
1074109 4
4194a A-O
4194b %-J
Pitts J ono 1st gold Os... L922 J -J
P J un do 41 Div 1st g 3 4sl926 M-N
P L E 4b W Va Sys ret 4sl941 M-N
Oou Law Diy 1st g 34s...1926 J-J
41926
J’ne’lb
90
104
Bale
1U4
102 41U3 4 102 4
108 4 Sale
103
Registered
Cen Ohio R 1st 0g44s..l93u
01 Lor A W con 1st g 6s 1933
Mouou Riy let gu g 5s..1919
Ohio River RR 1st g 58.1930
74
1064 1064
Gold 4s
O"
1
258
98
77%
984
77%
97%
92
Sp Oca A G gag 4s ..191b
Atlautio A Danv bee south Uy
Austin bo N W N'eoSou Puoiiu
I> ait
Ohio prior ig 3 43.1926 J-J
r> Registered
41926 4-J
Registered.....
sals
Noi
Short Line 1st 4s g..:...19db J-J
8 Fe Pres A Pli 1st g 6s.1942 M-S
Atl Knox A N bee L A N
Registered..,
107%
1919 A-O
Nebraska Extension 4a. 192? M-N
Registered
1927 M-N
A-O
....
J-J
Tvt-N
Sinking fund 4s
M-N
J-D
J-D
J-D
J-D
Debeuiures 4s Series J. 1912 FA
Series K...
1913 FA
East Okla Div 1st g 4s..1928 M-S
Registered
103*4
..
Illinois Div 34s
bince
January 2
High jNo
90% Sep '09
104% J’ne'08
....
104 4—.
1992 (m- S
1930 F-A
Convertible 44s
Big sandy 1st 4s
1944 J -D
Coal Riv Ry 1st gu 4a
194& j-d
Craig Valley letg 6»....194u j.j
Registered
Range
Ask Low
80
Ills Div 4s
lowa Div sink fund 5s..1919 A-O
Cent bee 8o Hy
Midi bee At Coast Lint
Bklyu A Montauk
1992
Registered
lauauiH
Bruns A West
1939
Registered
gold 4 4s
General
Railroad
»
Deo 2
Bid
1004
98%
100%
98%
98*4
984
HK. %
102%
103
1024
115%
115%
....
8
....
Os del erred Brown Bros
1UU%
101%
101%
102 4
6 114%
114%
....
97%
i
j
High
100% 101%
974
88% «ale
88%
102%
1024 Hale 102
96%
96*4
ban Paulo (Brazils trust 5s 1919 J-J i 90*4 sals
96
95
U ^ oi ..icxicu h i ^ oh oi 1899 Q-J * 95 4 96%
92
94
4 Nov’10
Gold 4s oi 1904...*.
1954 JO
\T 4ese are pr ices o n the b
New 4 4s
New 4 4«
No Low
....
97 4 Sale
J-J
.Vl-S
■gs
January 2
Week’s
Range or
Last bale
Price
Friday
N. Y. STOCK EXCHANGE
Week ending Dec 2
bince
M-8 1
Imperial Japanese Uoverum'i
fcterllng loan 44s
1925
2d senes -1 4s
1925
Sterling loan 4s
1931
rtopuo oi Cuba 5s exten debt.,
BONDS
Range
o ©
Least Sale
Ask Lons
Bia
t, s, i.overmneui
U
17
0
U
U
U
(7
U
Fries
brtday
Dee 2
defaulted bonds.
107
08%
Sale
108
59
107
84% Oct ’10
98
96
894
87% Sale
81%
67
J’iy fcDnoAug obue Oct
984 102 4
98
102
964 90
67%
694
....
99
984 Sals
6
824
64
55
68%
004 116
1054108%
Nov’lO
854
104
604
084
604
74%
46
....
84% 87
Nov’08
107% Deo’09
98 4
984
98
Apr'09
89 4
89 4
374
37%
84
Oct ’OS
80
67
Aug’10
07
p Due Nov
1
00
99
10
71
83
80%
....
314 40
*794 *8§*4
05
« Option
74
Sals
1498
New York Bond Record—Continuedts
•0
'
Price
(*
Friday
$5
Weetc’e
Range
Dec 2
O ©
or
Last Sale
Oin H & D 2(1 gold
4%a...l937 J -J
Cin D A L let gn g 6a...1941 M-N
C Find & Ft W
latgu 4sg.'23 M-N
Cln i & W 1st gu g 48.1953 J-J
Ind Dec<fe W lat g 5a...1935 J-J
1st guar gold 5s
1935 J - J
0 I St B A O See U O O A St L
(Jin S A u see UCOStL
Clear Held A Mah See BRAP
Clev Cm C & St D gen g 4s 1993 J - D
Cairo Div 1st gold 48.. ..1939 J - J
Cin VV & M Div lat g 48.1991 J - J
St JL Div lat col tr g 4a..1990 M-N
Registered
1990 M-N
3pr
Uol Div lat g 4a.. 1940 «Y1S
W W Val Div lat g 48...1940 J J
C 1 St Li & C consol 6b..1920 M-N
lat gold 4a
fcl936 Q-F
Registered
A1936 Q-F
Cin S «£ Cl con latg5a..1928 J-J
COCdj i consol7a
1914 J-D
Consol sink fund 7a
1914 J-l)
General consol gold 68.1934 J-J
Registered
1934 J-J
ina Bl & W 1st pref 48.1940 A-0
O Ind A W 1st pf 5s...tdl938 Q - J
Peo& East lat con 4a... 1940 A-O
Income4s
1990 Apr
Clev & Marietta See Penn RR
Clev & Pitta See Penn Co
Col M idiand 1 st g 4a
1947 J-J
Coloradj & Sou lat g4s...1929 F-A
Refund & ext 4 %a ......1935 M-N
Ft W & Den O lat g 6s..I921 J -D
Colum A Ureenv See So Ry
Col & Hoc it Val See Hook Vai
Col A Tol See Hock Val
Col Conn A Term See N «fe W
Conn A Pas Riva 1st g 48.1943 A-O
Cuba lilt lat 60-yr 5 g.... 1952 J-J
Ao
High
J’ly’10
122% 127% 129% May‘09
112
11*2* NovTO
110% Sale 109
90% 93 % 917g
Consol 60-year 4s
1952 J. J
ChicJb W Mich see Pere
Marq
Choc o A Gulf See CBIdbP
102
83
Low
Sign
127
123
11L34 114%
..
R 108*3 112
J
88
93*2
110*5
9l7<
Oct *10
101
80a4 Oct ’10
102
Sep *10
107*3 Deo’02
100 *u 104
N. Y. STOCK EXCHANGE
Wickk Endino Dec 2
Oct. ’00
113
106
105
BONDS
since
January
Clue St P M & O—( Con)
Hiu
a s-> Low
Oil St P A Minn lat
122% 126% 123
g 6a 1918 M-N
Nor Wisconsin lat6a...1980 J-J
St P A S City lat g 6a...1919 A-O
Chic& West Ind geng6a?1982
Q-M
Range
108
85
10 l34
87*4
107
R Grist
gelenv<&
Riv RR
Pa RR
Bridge See48.1936
con g
Consol gold 4*as
M-N
J-D
Al-S
M-S
J-D
J-J
M-N
A-O
M-N
1936 J-J
Bio Or Juno 1st gugos.1939 J-D
Bio Gr So 1st gold 4s. ..1940 J-J
Guaranteed
1940 J - J
Bio Gr West 1st g 4s.... 1939 J - J
Mge and col trust 4sA.1949 A-O
U tail Cent 1st gug 4s ul9l7 A-O
Des Aioi A Ft D See M A. ;-t xi
DesMoi Un By 1st g 5s..1917 M-N
Det& Mack 1st Ren g 4s. 1995 J-D
Gold 4s....
1995 J-D
Det So—t) S Div 1st g 4s.i941 M-8
Dai & iron Range 1st 5s.. 1937 A-O
Registered
1937 A-O
2u 6s
1916 J-J
Dul Short Bine Set Nor Pao
Dal So Shore & Ati g 5s.. 1937 J-J
ii'astof Minn SeestPM&M
Lltast Ten Va A Ga See So Ry
Elgin jol A East lat g 6s.l941 M-N
EimCortifcNo NeeDeh&NY
Erie 1st conaoi gold 7a....1920 M-S
NY & Erie lat ext g 4s 1947 m-N
2u ext gold 6s
1919 M-S
3d ext gold 4%a
1923 M-S
4th ext gold os
1920 A-O
5th ext gold 4s
1928 J -D
N Y R E &W 1st g fd 78.1920 M-S
Erie let con g 4s prior.. 1096 J-J
Registered
1996 J-J
1st consol gen lieu g 4sl996 J - J
Registered
1996 J-J
Penn ooRtr g 4s
1951 F-A
50-year conv 4a A
1953 A-O
do
Senes B.1963 A-O
Bull N Y A Erie 1st 7s..1916 J-D
Chic da Erie lat gold 5a.. 1982 M-N
Clev A Mahon Vai g 5a. 1938 J-J
Long Dock consol g 6s.. 1935 A-O
Coaid; RR 1st cur gu6s.l922 M-N
Dock A imp 1st our 6a..1913 J - J
N a A Green L gugds.1946 M-N
N Y Sus & W lat ref os.1937 J-J
2d gold 4‘as
1937 F-A
General gold 6s
1940 F-A
Terminal lat gold 5s...1943 M-N
Regis $6,000 each...1943 M-N
Wukd; Ea 1st gug 68.1942 J-D
Ev& Ind 1st con gug 6s.. 1926 J-J
Georgia ds Ala
GaCardbNor
95*5
94*«
92
91
92*5
93*5
Sep’10
92*3
92%
94
92*3
92*a
90*3
91
90
90*3
89*4
Oct ‘07
Dec’09
May TO
91
96
90
100**
l05%...
90
105*4 FebTO
97% Oct TO
973« 96 AngTO
95
94
108
....
Oct TO
1U8
109*4 Dec‘09
125 % Sal6
126*a
9U
105*4 105 \
96*3 98*3
97
105%
96*2
93*3
94*3
95*4
93*2
125 *a
96
103
98
108
119
125*3
J-D
M-N
A-O
J- J
J-J
F-A
M-S
Gasoe EieoBergCoc g68.1949 J-D
Gr Rap G R Co lat g 6a...1915 F-A
Hudson Co Gas 1st g 5s..1949 M-N
Kan City (Mo) Gas lat g 5s 1922 A-O
Kings Co El R & P g 6a...1937 A-O
Purchase money 6s
1997 A-O
Ed El 11 Bkn 1st con g4s 1939 J - J
Lac Gas Rol st R 1st g 6s.«19l9 (J-F
Ref and ext 1st g 5s. ....1934 A-O
Milwaukee Gas R lat 4a.. 1927 M-N
Newark Con Gas g os.... 1948 J-D
price Friday; latest bid
See
sea
Last
Ash Low
Lange
»lUce
January 1
o
or
cno
^
sate
.
,
liiytl A0
Low
Mign
?115
110
101
Dec'09....
10 i *2 101 *2 Nov’10
101
112
114
Apt 06
102*1
....
86
86
A-O
95*4
J
95
99
95
J’ne’Od
92
84
Aug’10
Sep TO
97
J’ly’09
88*3 92
....
84
87
94*a
97%
A Dine
AaaseaARine
See So Ry
Gila V G & Nor See So
Pao Co
Gouv & Oawegat see N Y Cent
Grand Kap& Ind
Gray’s Pt Term
Nee Penn HR
See St R S W
Gt Nor—C B & Q coR tr4a 1921
Registered. A
1921
St Paul M A Man
4s....1933
lat oonaol gold 6a
1933:
Q
92
58*4 Sale
69
Nov’10
90
89
53
58*4
70
70*2 NovTO
96
95%
96 7«
97*3
95
95%
97 *8 Sale
112%
99
67
813a
93
97 7«
94*3 99
111*3114
May’10
100
94*3
65
NovTO
113
100
108*3111*4 108*3 Oct TO
111%
87
116
94
118
”99'
85
U7
J’ne'05
Sep‘09
118%-NovTO
107
106
Oct TO
99
NovTO
113
106
110*3
97j4 101
102*8 Feb’03
120
118
Sale
1*2*6*' vicrb
120
Oct TO
149
Aug’Ol
98
98
98 *8
100% LO1 % 101 *2 NovTO
98% 99’6 99
99
91
93
92%
93
12238
24
1*6
15
i23*a Sep TO
....
....
i*04**4 ioa**
Mont ext lat gold 4a..
1937 i J
Registered
1937 J
EMinnNorDivl8tg4al948 A
95
97
95%
....
114
....
96*2 102
103
96*8 100*2
91
97*2
1U0
123*4 130*4
....
gold 5a...1.1937'J
Will & S F lat
gold 5s 1938 J
Greenbrier Ry See Ches & o
Gulf <fcsl lat ref A t
g 6a 61952 J-J
'
'
■
111% 114
-
....
112
116
86
J’ne’oO
....*!
87
88%
& st JoSeeN
See CY BN &H<fc
Han
u H
ousatomo
Hook Vai
1U6*« NovTO
103% 107%
1u8j4 J’ne’oO....
98%
98^b
2 ”0*7*^ i*o*6*%
100 *4 Oct ’UO
9934 Jan To
99% 99%
114^NovTO
li3
114%
2 125
126*4
i26*4i
129
136*4 du>’O0
i*i 6*’ i’1‘3%
112*4 NovTO
....
98%
♦
OB3* 212
87
94%
!l
latconsolg 4 *38.1999 J
!
102*4 102%
Registered
ll|
99% 104
1999 J
100*3 8ep ’d£>
Col <& H V lat ext g 4a.. 1948 A
93
96
95%
Col A Tol lat ex 4a
92
1955 F
Houst E A W Tex See so Pac!
Houat & Tex Cen See So Pac Co
I Rinois Central lat
104
J’ne’io
g 48..1951! J J *101
105%
1 Registered
1951 J J
107% Ap: ’o7
lat gold 3*38
89 *3 Sale
1951 J J
89%
89%'
2 i 89*3 92
Registered
94
1951 J J
Sep *U9'
Extended 1st g 3 *38
87
93 *3 May’09
1951 A O
lat gold 38
80
sterling
1951 M s
J’iy '09*
UoR Trust gold 4s
97%
1952 A
99% Nov’lo'!”*j 99 100%
Registered
99
1952 A ■O
J’ne’o9'
1st ret 4s
97**3 Sale | 97%
1955 M N
96
»?%!
99%
f.NOdi Tex gold 4s ...1953 M ■N
98 *3
99
99
1
9 (*4
Registered
**9*ii‘* 96 NovTO1.... 96 100%
1953 M N
96
Cairo Bridge gold 4s
101
loO
1950 J
Apr’09
90 i 87% AlayTui.... •87 *«
J
Roui8vDivdcTermg3*3S.19o3
88%
Middle Divregos
102
1*23
1921 F
Ai.ay’991....
Omaha Div lstg 3s.....1951 F A
77% MarTo!.... 77% 77%
St Rouis Divdcterm
77*a 79*4 Dec’u8
g3s.l95li J J
Registered
1951 J J
Gold 3 *38
87
89
89
Feb To
1951 J J
88% 89
Registered
101 *4 Got '99
19511J J
Spring Div 1st g 3*38...19611 J J
87** ”1.*! 100 jNov’OO
Weatern Dines 1st g 4s..1951 F A
95
OCt TO
95%
95
98
BeRev ite Car lat 6a
117 *3 Aiay’iO
1923 J D
;ii( % 117 %
Oarb As Shaw lat
95% OCt ’10
g 4a...1932 M ■Sj
94
J| 95% 99
Chic St R A N O g 6a...1951! J 1) 112% 119% 116
ucl TO
.'114% 119
Registered
115
118
Alar To
19511 J D 112
.118
118
Gold 3*38
it
90
Oct '09
1951; J JD!
Alemph Div 1st g4s...1951* J D*
97*aMarTu
St R Sou 1st gu
:
98
g 48
1931 M s
J’ly'68
Ind Bl A West See <J CCA til L‘
Ind Ill & la let g 4a
1960 J J
95
96%
TO
May
95
lnt A Great Nor 1st
107
107*3 107% Nov'10 ....107
g 6s.. 1919 M N
2d gold os
Sc
112
110
1909 M
May’10 ...jlio6;
Trust Co oertfs
| .. ..j 102 % Salt 102*3 102*3 4Uo2
3d gold 4s
1921 M S
14*s 15
NovlO
16
15
Iowa Central lat gold
5a.. 1938 J D 104*« 105
105*4 Nov'lu ....102
Gold 4s
S!
70
195I'M70
70
3
69
James F& Clear 1st 4a... 1959 J' D
94
94*3 94%
94 *3 10 94
•™:| ”6
!l04
100
103*2 111*4
111*4 114*8
111*3 NovTO
127
94
95-j
95 *3 Nov’ 10
94*4 96%
99
Sep TO.... ! 98
100
125 *2 J ’ly 10 .... 125 % 128%
132
Apr’OO....
96
100
125*4 12734
J
Registered
J
Reduced to gold 4*aa 1933;
1933* J
Registered
1933* J
**94** j*iy*’*0*§
90
^ Sale
99
J
126%
94
95
loi
101
NovTO
94
102*5 lU2*a
102
Sale
90
102*3
I0ia4 NovTO
90
98
79
85
90*8 SaJe
84*4 85
'*4*7
91
Feb’08
Dec’09
Mar*08
78
92®b 977e
1 102S 104*2
‘
100
90
•0}
:?i
....
....
105
94*2
90*8
90*4
64% Oct TO
87 34
94*3
83
85
....
Jan’u2
97
.
9/’%’*9*7%
.
94
89
90
74
72
‘04
Sep To
110
94
91
74
108*4 110
*sep
Nov’10
Oct TO
.
103*4 Oct TO
106 *3
107 *a 10934 107
94
88
72
106
.
Mar'Ooi
97 7e
91
74
111
ai A
AVan
Oct TO
106*3 10734
i08*a Nov’10
108*2 108*2
1197s
118*4 122*3
*2
A G R
See R to A Ai o
Mich See Tol A O C
KCFtSJeAl AwStR«fcSF
KCAM.RAB Seeti tB&SF
Kan C A Paciho See M K A T
Kan City Sou lat gold 3a..l950
O
Registered
i960' A O
Ref A impt 5a
O
'A
Apr 195U
Kansas City Term! 1st 4a 19u0 J j
Reutucky cent see l,A N
Keok A Des Mo see C R I&P
KuoxvRle A Ohio See so Ry
A
..
10S34
120
,
100*4
103*8
100
84
73
100
103
106*4 Jan TO
9934 FebTO
119*8 US Oct TO
84
81 *8
Sale
salt
113
lil*aU2
112
118
65
68
110
86
75
v
|
87*t
21
67
76 7a
13
35
83*3 87*2
64
66
1 110
6 110
69*4'
llO
83
73*2
21
|
111*3
1UV
Dec’Us
121
122% 124*3 123*4NovT0 ]
104
118
8034
Ncv'09
74S«
7434
S5*s Feb’07
86
71
103*5
106*4 106*4
9934 9934
.
Sale
85
75
100
104*4 1067e
Alar TO
100
86% Sale
71
68
109
J’ne’lO
104*4 Oct TO
100*8
103%
120
113*6
115
120
114
109*8 114
Apr TO;,
luO% ...
103 *u Oct ‘091,
99*4
99*4 Nov’10
9934 103
101
Nov’10!
100 % 100*4 Dec ’06
87
89
J'ue’lO
127
114
99*4 103*5
,
99
iU4 *2
.
110
99
106
....
110*2NovT0
89
108
.
100*2 101 *2 Mar’lO
114
93
110*3
101*3101*2
Oct ’09
011SClELLANEt)U8>
No
Bid
ItS
•!
S ^ i
IVeetc’t
Range
.
J-J
Improvement gold6a...1928 J-D
1st it refunding 5s
1955 F-A
Uas and Electric Light
Atlanta G R Co lat g #b...1947
Bkiyn U Gas 1st con g 6s.1946
Budalo Gas 1st g 6s
1947
Columbus Gas 1st g 6s.... 1932
Detroit city Gas g 5s
192^
Det Gas Co con 1st g 5s...l91b
Eq G BN Y 1st con g ds.,1932
of 1882 lat 58.1913
Price
triday
Dec 2
Georgia Pacitio
J-D
J-D
J-J
F-A
M-N
F-A
O
Erie & Pitta See Penn Co
Evans & i H 1st cons 68.1921
1st general gold 5a.
1942
Mt Vernon 1st
gold 6a.. 1923
Suii Co Branch 1st
g 63.1930
L argo d» So See Ch M & St P
1 Rnt & Pere
Al
See Pere Alar
Fla O <fe Penin see sea Air
Dine
Fort St U D Co 1st
g 4 *33.194 L
Ft W & Rio Gr lat
g 4a... 1928
i
* al Har <fc S A
See So Fac Co
\* *1H & H
Uak<fcGtSo ae<CM&8tf
alias A Waco See M K A T
Del Rack A Western—
MomsA Eaaexl8t7a...l9l4
1st consol guar 7s
1915
Registered
1915
lat ret gu g 3%a.......2000
Rack
N Y
A W Iat6s...l921
Construction 5a
1923
Term & improve 4a....1923
Warren 1st ref gug 3‘aa.2000
Del A Hud 1st Pa Div 7a.l917
Registered
1917
10-yroonv deb 4s
1916
1st Ren equip g 4 4s ....1922
lst&ref 4s
1943
▲lb & Sue conv 3 *98
1946
Kens tfc Saratoga 1st 7s.1921
^
;
BONDS
N. T. STOOK EXCHANGE
Wb-.kk Kntmnb Dro 2
;
[ VoL. Xi-XXil.
106*3 Salt
106%
6U% Sep TO
106*a
65
......
......
........
100% 100% 100% NovTO
96% Sep '08
100
105
**9*8” ioi”
......
100% 101%
113
105" Oct TO
61 *3 Oct ’01
100
Oct '09
j.02%
102%
97
115
97
NovTO
Mar’10
NovTO
OCt TO
88
102
114
88
86% 90
102% 102% 102% NovTO
100% 101% 101 NovTO
89% 92% 91 Apr TO
*
on
Next
......
and asked this week,
a
........
b
....
....
....
....
1*05*
60%
ib*7*%
67
.....
100
ioi%
(.01%
i()5%
....
....
....
l
....
io‘l‘% LU.K
97
1UO
97
102
110% 115
86% 90
LOO % 105
99
101%
91
92%
....
Due Jau
b Due Feb
113% NovTO
ll2>3lld%
110
96
100
112%NotT0
110 % 112%
Get TO
93
NovTO
Get’06
MarTU
97
93 *3
97%
100%
95
Dec’08
Page*
Light
101%
Sale
sale
101% 101%
84
84%
110% 111% 110%Oct TO
81
92
92%
116% Aug’lu
116% 117
102
102
sale
102
104% 104
100% 103
101
92 *«
90
k Due Aug
q
1U2
Oct TO
101
Nov’10
87
111%
100% 101%
19
91
93
116%
*8 LOi%
102%
2 100%
119
104
90
101
99
98
90
101
105
100
93
100
103%
Max TO
NovTO
Aug’lo
99% 103%
80
LlO
97%JTy'0U
Sale
100
100% 101
Philadelphia Co conv 5s ..1919 F-A * 97 101
99%
Syracuse Righting lat g os.’51 J-D
98
98
Trenton G A El 1st g os.. 1949 M-8
110
Union Elec L&P lstg58.1932 M-S
93
100%
Westchester Dight’g g 6a.l95o J-D
102%
102%
A Due J ’ly
13
18
1U0*4 viar’lu
92
68.1943 A-O
Ind Nat Gas & Oil 30-yr 5s’36 M-N
Mu Fuel Gas 1st gu g 6s.1947 M-N
May
95
101% 101%
98 *3
99%
93%
104%
-D
1947 M-S
Ch G-R A Cite 1st gu g 5s 1937 J-J
Con G Co of Ch 1st gu g 5s.’36 J-D
0 Due
93%
98
101*3 Feb’10
101% oey ^09
94
97
95
105
96%
i.
91% 95
97*3 100
91
94
N Y <fc Rich Gas 1st g os.1921 M-N
Pacific G A Elec Co Cal G <fe E
corp unifying & ref os 1937 M-N
A Due Apr
105
93% MarTO
J-D
Purchase money g 4a...1949 F-A
Ed El Hi 1st cons g 5s..1995 J-J
N Y&QEl B&P 1st con g 5sl93u F-A
Refunding gold 5s
4 105% 108%
109 *3 Get '99
108
Nov’U9
NYGEDH&Pg 5S...1948
Peo Gas tfc G 1st con
g
....
108:
106
108
107
NovTO
Nov’lO
107
105
98
Reh A Hud R See Cent of NJ
Reh ib Wilkes b see Cent of N J
Deroy A caney Vai see Mo P
uong Dock See h.rm
uong lal’a— 1st con g 5s.A1931
1st consoi gold 4s
A1931
General gold 4s
1938
Ferry gold 4 *38.
1922
Gold 4s
....1932
Gas and Electric
99% 103
98
93
1106% Mai"TO
Il09 AlarTO
g 4a.2003
g 5a. 1941
1949
1934
101%
Nov’10
110% 109% NovTO
107
1940 J
Uniiied gold 4s
Debenture gold 5s
71% 74
Oot ’00
y8
1941
Reh V Coal Co 1st gu
g 6s. 1933
Leh A N Y 1st guar
g 4s..1945
Registered
1945
El C A N 1st
pf 6a
1914
Gold guar 6s
1914
BONDS—Continued
102
......
Registered
73®4
73%
100% 101*4 101%
107
North Ohio 1st gug os.. 1943 A
R Sho A Mich S see N Y Cent!
Reh ValN Y 1st gug 4 *38.1940* J
Registered
74
63
110
Lake
A W lat g 5a.. 1941!
Erie OB
1937! Jj
2d gold
Beliigh Vai (Pa> cons
Beu V Ter Ry
1st gu
73%
....
104%
L02
May’06
Oct TO
Nov’10
Due Deo
t
Option St
93
Deo. 3
BOND*
Friday
N. T. STOCK EXCHANGE
wersk Endin'* Deo 2
Long Island—-(Con)
1949
Gnar ref aoid 4s
Bkiyn <fc Mont let g 6s..1911
lstos
1911
N Y B&M B 1stcon g5s 1935
N Y & K B 1st k 5s
1927
Nor Sh B 1 st con g gu5s ol932
Louisiana & Ark 1st g 6s. 1927
Louisv & Nashv gen g 6s. 1930
Gold 5s
1937
Unified gold 4s
1940
Pec 9
M-S
M-S
Wl* S
A-O
M-S
Q-J
K H & Nash 1st e Os....1919
L Cin & Bex gold 4 has. ..1931
N O & M 1st goid 08....1930
NOAM 2d gold Os
1930
Pensacola Div gold 6s...1920
St L Dlv 1st gold Os
1921
2d gold 3s
1980
Ati Knox & Cin div 4s.. 1955
At! Knox & Nor 1st g 5sl940
Hender Bdge 1stsfg6s. 1931
A-0
M-N
J-D
M-N
Kentucky Cent gold 4s.. 1987
LAN & M & M 1st g 4 4s 1945
J-J
J-J
M-S
M-S
M-S
LAN-South M )oint4s.l952
N Fla A S 1st gn g 5s... 1937
N A C Bdge gen gu g 4 4s 1945
Pens A Atl 1st gu g Os..1921
SAN Ala con gu g 5s.. 1930
LA Jet! Bdge Co gug 4s.. 1945
L N A A Cli See C fA L
103
Ill
104
J-J
CoalRySee
Mahon
L8&
S
anhattan
consol
4s.M
1990
103
Sep *10
j 71 Mny’09
92 41 93 4 Sep’10
1014
116 J’iy 06
lo3
110
Jan ’09
94 4
944 9541 944
102 4
102
Sep’1C
89 4* 904 Oct’10
107 4 11238 112 4 Nov’10
113
1945
1938
OCt’lO
97 4
97
Nov’10
97
994
3 i t8
99 4
994
25 4
77
76
934
984
6
Mar’10
75
79
100
107
4108
73
108
73
87
974
9G4
98 4
38 4
97 4
Sale
974
97
83
M-N
M-S
J-J
A-0
M-N
F-A
A-O
M-N
M-S
J-D
M-S
M-N
M-S
M-S
F-A
M-S
M-N
MS
F-A
103
79 4 80*4
85 4 Sale
101
Nov’10
MarlO
S3
192
Nov’10
Jan'lo
97 “a
83 4
Nov 10
964100
15
12
85
88
85 4
Apr *09
105
J’ne’10
Nov 10
Get ’10
77
98 4
92
93
86
’*9*14
92
85
105
784
834
864
90*4
105
106
:103
113
108 4
5 1100 4105 4
-•
1U4
Apr’09
Nov’10
Nov’10
.105
-1107
108
111
4,100 102 4
994 994
100
1024
6
75
814
1014
774
954 Nov’09
92
y2 4
Nov 10
92
8? 4May’lU
Mar’U5
984 964 Get To
1104 1104 Nov’10
107
Sale 107
107 4
111
Sep ’oy
1064
87*4
894 93 4
Nov’10
77
82
100
lOo
Mar’10
10LVl01*4NovTU
764
984
964100
"i
SO7#
8U4
132
984
89
96
95
87 4
914
86
844
84 4
Sale
834
844
64 4
1024 Jaa’ld
98
Dec’06
1174Oct ’10
1144 1164 114 4 Sep ’10
b5
90
864 Oct’10
109 4
1094 Nov’10
1174121
80
93
98
75
May’08
94
Nov’10
96 4 1004
ltno
113
3, 81
86
14105 4110
82*4
87*4
'102 4 1024
••
.••116
1214
..111441174
86 4 ‘ 90
..
107
..
100 4
94
96
See B A O
1064
no
MoM M W A Al 1st Os..1917 J-J
TAP Branch 1st Os....191? J-J
Nash Flor A Shef See LAN
Nat Rys of Mexpr 14 4s 1957 J-J
AO
J-J
A-O
1064
1064
■
HO
,
Nov 10
1:10641104
....
10841104
1157bNov’10j... i>1154 1154
1154.
Jasper Branch 1st g Os..1923
1174 Mar’Oo
106 4
106 ^
113
...."
JUy ’04 ....'I
944 944 944
84*b
61 93 4 95*4
89 4 90*4 89*4 Nov’lu ...,!| 874 924
1004 101
1004 Nov’lOj.... 1004 1024
♦834
344
834Nov’10 ....i 82
99
General lien gold 3s
St Paul-Dul Div g 4s
Dui short L 1st gu
102
924
92
05*4
95*4
r
100
*99*’ **99**
87
83
90
92 4
97 4 100 4
14
100 4
1344
10U*b
133*4
984
.112 4
>107
95
1224128
122 4125
99
92
994 1024
9641004
90
10 L
994
121
98*4
1104 L104
J ’ne 08
101
964 97 4
40
43
130*4 1254
96*4 1034
112 4116
Oct ’10
Aug’09
964
97
1014 J’ne’06
95
98
101
May’10
125 4 Sep-’10
1
126
Mur’lo
May TO '”1
123
99
99
14
97
Apr TO
100
123
1014
97
1244
100
97
1024
j
1264
1244 l2U*s
123
96 4
92 4 924 9‘2<fc
93*4
92^6 *5 91
99 4 s>ai6
99*a
100 4 15b 94 41084
88 4 Nov’lu
86 4 90 4
88 4 90
105
Nov’iU
102
101*4 106
91
97
964 ‘ 964
96*g
J-D
J *D
J*J
M"N
62
99
99
99
46
704
704
30
Sep’lu
364
Feb TO
984 101
4
6«4
72 4
69
964 97 4
99
90
1164NovT0
11641184
994
998s Sale
Q J
98
93
70*8 Sale
70
71
964
96
♦99
m°
5s..l9le]M*8
NesGtNor
F-A
88
92
92
Dec’09
914 Oct’10
1244
1923!
jl 90
93 s*
994
M*N 1004
Registered certihc’s.. 19231 <^-F
P-A
A-O
J'ioo
83*4
934
100
99*4 Sale
112
w*s
St Paul & Dui 1st 5s
1931
2d 5s
1917
1st oonsol gold 48
1968
Wash Cent 1st g 4s
1948
Nor Pac Ter Oo 1st g 6s..1933
Nor Ry Cal see So Pac
Nor Wls See C St P M & O
Nor Ja Mont See N Y Cent
J’ne’09
Feb’08
Nov’ i0
Nov’ 1 b
Apr’ 10
91*4 Nor’10
91*4
1004
1997
a2047
a2047
1996 *
104
J iie’U9
90
87
884
clyy2
Registered
'4
1014 102 4
80 4 914
1104 Oct'10
119 j ne’06
99
Jan’lu
98 Dec’09
133*4 Sale
J-J
Improvem’t & extg 6s..1934 F-A
New River 1st g 6s
1932, A-O
N & W Ry 1st con g 4s. 1996 A-O
Registered
1996 A-O
Div’l 1sti&geng4s... 1944 J*J
99
116
♦
tl7
117
110
103
110
103
LLO
103
J -D
92
J*J
Ill
Feb’10
J’ue’lu
Oct Tu
964 Apr To
116*4 111
107 4
Nov’lu
1034
964 974
92 4 924
IU^NovTO
1104111*4
964
92 4
9i°a
Olnd «fc W See (JUO&Stl
85
See Mo Pac
Penn RR 1st real est g 4s. 1923
Consol gold 5s
1919
Consol gold 4s
1943
Convertible g 34s
1912
Convertible g 3 4s
1915
Consol goid 4s
1948
AJleg Vai gen gu g 4s... 1942
D K K li <fc Bgelstgu 4sg.’3U
PhilaBal* Wist g 4s..1943
Sod Bay & So 1st g 5s...1924
U N J RR <& Can gen 4s.l044
Penn Co—Guar 1stg448.1921
104
1997
1934
34s...1995 F-A]
199b F-A1
88 4 Sale
884
93
93 4
80
804
77 4 784
S8
87*4
93
80
SS\ 27
87*4' l
87^ 92
864 904
93 4' 37 1 92
8041 83 i 794
78*4 Nov
IQ178
J-D
M-S
F-A
F-A
F-A
F-A
A-O
J-D
J-J
J-J
J J
J-J
A-0
J-J
J-D
F-A
J-J
M-S
964
90
95
99
76
97*4
100
77*4
99
95
ibi
99
100
85
ib‘24
Sale
104
no
102
109 4
1044
20
10241084
....
7
70
J’ne’10
Feb’07
4
00
101
984
82*4
L02
103
83
1044
107
1034107
Nov’iO
Jan’09
Jan TO
on
M-S
J-J
Aug’lO
Jan'09
102*t cut T j
964
98*4
96
95*4
103 4
103*4
102
1034
ib'24 lbs”
97 7» 102
98 4 SaLe
32
94 4 974
95*4 »aie
149
1034 8ale
4 101*4 10i7«
100*4 100 Out TO
102**102*4
944
101** 101*4
101-4
101*4 *aie 101*4
100
Jan’03
102
103
103
104
4
May
TO
A01
103
103 \ sai«> 103 4
106
1034
102 *a
102*4 103**
103*4 Feb TO
90
90
884 88*4 90 Aug’ 1J
88
914
88*4 89 4 88*4 Get TO
97 4 98*4 97 4
95*4 984
97 *8
87
87
90
88
83*4
Aug’lo
884
904
91
Deo’Ob
Next Page
Allis-Chalmers 1st 5s
1936
Am Ag chem 1st o 5s
1928
Am Cot Oil ext 44s
1015
Am Hide & L 1st s t g 6s..1919
Arner Ice Secur deb g 6s.. 1025
Am Spirits Mfg 1st g 6s..1915
Am Thread 1st col tr 4s..1019
Am Tobacco 40-yr g 6S....1941
100
4
s
100
94 4 100
Due May
J-J
A-O
Ci-F
M-8
A-0
M-S
J-J
A-O
4s
1951 FA
Betb Steel 1st ext sf 6s.. 1926 J-J
Jent Leather 20-year g 68.1925 A-O
Cons.l Tobacoo g 4s
L951 F-A
Corn Prod Ref s f g 5s
193 i M-N
M-N
1st
si
25-year
87
Aug’09
04 4
95
94 Hi 96
g6a’l949
*No price Friday; latest bid and asked. aDueJan b Due Feb
M-N
M-N
J -D
MN
m-S
F-A
M-N
J -J
Guai 3 4s coil trust reg. 1037 M-S
Goar 34scoil tr ser B...1941 F-A
Tr Co certif’s gu g 3 48.1916 M-N
Gu 34str ctfaC
1942 J -D
Gu 34s tr ctfs D
1944 J-D
BONDS—Continued
83
103
1044 Oct TO
105
110
100
6
i
77*4
78
i074 l>ec’04
1024 Apr’06
107
May’97
1054 Dee’06
S3
78
^1-S
JIanuiacturing A Industrial
90
06
03
...
102 7e 102*4
1044 106
104*4 106
106
99 4 Nov’09
90
Nov’10
97
97
98 4
98 *t.
96*4
824
80 4
M-N
1921 J-J
Registered
J-J !
J-J
M-N 1
M1SOELL INEOUS
_
J-J
10-25 year conv 4s
1932
Pocah C & U joint 4s.. 1941
C C«te T 1st gu g 5s
1922
Scio VtfeN E 1st gu g 4s 1989
North Hluioia See Chi<fe N W
North Ohio See L Erie
W
Nor Pac—Prior lien g 4s..1997
110
X acof Missouri
Nash
Chat Agold
St L5s1st 7s.l913
1st oonsol
.1928
Coni and iron
Butt & Susq Iron s 1 os....1932
Debenture 6s
a 19^6
U01 u do 1 Co gen slg 6s.. 194a
Convertible deb g 5s....1911
Col Indulst<fc coil 6s gu.,1934
Con tin’talC lsts t gudsg.1052
&r Riv Coal <& C let g 6s..1919
Jeff* ClearC<& 11stg5s. 1926
Kan<fc H C & O 1st sf g5s.l9ol
Pocah Con Collier 1st s i 5s.’57
Sunday Creek Co g 5s....1944
I'enn Coal gen 5s
1951
•Tenn Div 1st g 6s
al917
Birm Div lstconsol 6s..1917
Cah C M Co 1st gu g 68.1922
De Bar C <fc I Co gu g 68.1910
Vie tor Fuel 1st s t 6s
1953
V’alron Coal dbColst
J*J
N Y & Put See N Y C <fc H
N Y da R B See Long Island
N Y S & W See Erie
N Y Tex & M See So Pac Co
Nor & South 1st g 5s
1941
Norf & West gen g 6s
1931
'107
1
115
101
100 4 Sale
|_>ao Coast Co 1st g 5s....1946 J-D
See S P Oo
Morris A Essex See Dei LA W
Registered
Regia $5,000 only
Nov’10
Jan’08
1
91
Sale
J*J
.
’*9*54 *98*4
1109
uct’07
>11)0 Deo’09
!1304 Jan’09
994100
9b4
1937] A-O
93 4
93
Oct’09
J’ne’iO
'102 4 Feb'lu
I 84 Oot’10
mo Riv RR
See uait &> O
Ore & Cal See So Pac Oo
Ore short Line See Un Pao
Oswego & Rome See N Y O
See St P M A M
Registered
107
109
85 4
90
St P <fc N P gen g 6s
1
85
100
122 4
120
1952 M-N>
1929,
N Y N H & H—Conv 68..194S
Conv dehen 3 4s
1956
Housatouio it con g 5s..1937
N H & Derby con cy 5s. 1918
N Y & North See N Y C <te H
N Y O & W re£ 1st g 4s..j/1992
Jl 984 994
1104
195l'»4-S;
NY&LongBr besCentofNJ
Aug’10
:104
1114114
93 4
2361
Oct’02
| 93
92
115
125
100
100
884 904 90
88
90
8-S*4
93
93
Sale
03
Sale
92*4
J-J<
Y & Green w Lake See Erie
Y' & Har See N Y C Jfe Hud
Y Lack & W See D L & W
Y L K &> W See Erie
987e J’ne’10
(105
I
1940
OB«fctjcoRtr4a
Morgan’s La A T
Deben g 4s
Lake Shore colig
N
N
N
N
974 Apr’09
I
110
1940! J-J|
Registereu
HO
,
1U3
95
84 4
Registered
J L & S 1st g 348
1st g 3 4s
79 S
9-,*<
984
97
984
....
*1314 Jan’09
Bat CcfeStur 1st gug 38.1989, J*D
N ir ChicJfc St L 1st g 4s 1937 A-O
1004 101
1024 109
67 4 814
87
91*4
Nov’lU
89-4 904 897*
109 4
>1104
1074 1084 106 'b
101
1014 105
102
109
110 4
105 4
1054 109
108 4 109
110
1014 1014 ,1014
994
101
131
!
10641104 107
1044 105
*
824
79*6
3
j
H
j 78
,...
954 984] 95 4 Nov’10
4a
Registered
Nor’10
Jan ’07
*1004 J’ly’io
132
'118
130
106
Ao Low
High
>108
1931] Q-M, 1084
97
1931
Debentures 4s
West Shore 1st 4s gu...2361
Range
1
844
M-S
Registered
11
©-£ I
Since
^ -0 January
4 79 4 Nov’ 1 o
j 7y4Aug’l<)
984 Sale | 984
0S%
!»8 4
! 984Nov’lo
1064
1
1931
20-year deb 4s....-
77
79
100
AsK Low
2
80
Debenture g 4s
1928,M-S
25-year g 4s
1931 M-N
KaA«feG Rlstguc5s.l938 J*J
Mahon C’l liR 1st 5s..1934 J-J
Pitts & L Erie 2d g 53.al928 A-0
Pitta McK <& Yr 1st gu 6s. 1932 J-J
2d guar 6s
1934 J*J
McKees & B V 1st g 6s 1918 J* J
Apr’09
May TO
J-D
F-A
Guar gen 4s
1977
Natoi Mex prior lien 448.1920
1st oonsol 4s
1951
New HAD SeeN V N H A H
N J June RR See N Y Cent
N Y Bkin A Man Boh See L1
N Y Cent A H Riv g 3 48.1997
Og&LCham lstgu4s gl948: J-J
Rut-Canad 1 st gu g 4s. 1940 J - J
St Law & Adir 1st g 5a. 1996 J-J
2d gold 68..............1996 A-O
Utica & Blk llivgug4s. 1922j J-J
Lake Shore gold 34s....1997; J-D
Registered
1997j J-D
994
314
96*4
274
Range
Dec 9
Bid
W-N
Registered
Week?*
or
Last Sale
Iriday
Pine Creek reg guar 68.1932 J -D
R W&Goon Istext6s./tl922 A-0
Oswe & R 2d gu g 6s...«1915 F-A,
KW&OTlt 1st gu g 5s. 1918
Rutland 1st con g 4 4s..l94li J- J
9*4*4 9*9*4
AeeNi OAii
Monongaliela Riv
Price
CO
Mich Cent 5s
994
May’ lu
..TOO
024
F-A
1104 1104
1094114
88 4 92
Nov’10----
Nov’10
J-J
J-J
t!
1064 H24
Apr'U5j-
..! 79
J-J
St L A Cairo coil g 4s..el930
Guaranteed g 4s
1931
MAO coll 4s See Southern
944 974
102
105 4
89 4 92
Nov’10
104
984 98 4
A-O
MontgomDiv 1st gas..1941
*95 4
91
1104 Oct ’10
91
Mob A Ohio new gold Os.. 1927 J-D
1st extension gold 6s../tl’J27 Q
General gold 4s
1938 M-S
114
I
94
M-N
M-S
106
1214 1254
1184118 4
1054 1104
!113
110
1st A ret conv 5s
1959
Cent Br Ry 1st gu g 48.1919
Oeu Branch U P 1st g 4s. 1948 J -D
Leroy A O V A L 1st g 5s 1920 JF-A
Pao K of Mo 1st ex g 48.1938
2d extended gold 6s... 1938 J-J
St L Ir M A Sgen oon g 5sl931 AO
Gen con stamp gtd g 5s 1931 A-0
Unified A ref gold 4s..1929 J-J
Riv A G DlV 1st g 4s.. 1933 M-N
Verdi V 1 A W 1st g 5s. 1926 M-S
MobJ A K C l6t cons g 5s. 1953 J-J
Mont cent
1214 1214
H84 Nov’10
;105 4 Nov’l 0
1104
1094 114
Midi Cent See N Y Cent
Mid ot N J
See Erie
Mil L S A W
See Chic A N W
Mil A North See Ch M A St F
Minn A St L 1st goid 7s.. 1927 J-D
Paciiic Ex 1st gold Os.. .1921 A-0
South West Ex 1st g 7s.l910 J-D
40-year gold loan 4s
3d 7s extd at 4%..
1104 4
98
Registered
1990
Stmpd tax exempt.. 1990 A O
McK'pt A B V See N Y Cent J-J
Mex Cent cons g 4s
1911
1st cons mo g 3s
al939 -Piy
2d cons ino g 3s trust rects..
Mex Interuat 1st con g 4s. 1977 •VJ-S
Stamped guaranteed... .1977 MS
Mox North 1st goid Os.... 1910 J-D
Kan C A Pao 1st g 4s...1990
Mo K A E 1st gu g 5s...1942
M K A Ok 1st gu 5s
1942
M K A Tol T 1stgug&s.1942
Sher Sh A So 1st gu g 5s.1943
Tex A Okla 1st gug 5s. ..1943
Mo Pacific 1st eon gOs ...1920
Trust gold Os stamped.al917
Registered
a 1917
1st coll gold 5s
1920
January
104 4
A-0
1st consol gold 5s
1934
1st and refund gold 4s..1949
Des M A Ft D 1st gu 46...’35
Minu A St L gu See BORA N
M StP A S S M con g 4 mt gu’38
M SSM A A 1st g4 int gu 1920
Minn (Jn See St P M AM
Mo Kan A Tex 1st g 4s... 1990
2d goid 4s
0i99O
1st ext gold 5s
1944
1st A refund 4s
2004
Gen 8 f 4*23
1930
St L Div 1st ret g 4s
2001
Dal A VVa 1st gu g 6s... 1940
106
1214
1174
1054 1U
1134
714
F-A
J-J
F-A
F-A
M-S
O
*0
Higtx No Low High N Y Cent & H R—(Con)
I
Mioh Cent coil g3 4s
944 100
1998! F-A
96 4
Registered
....1998; F-A
Beech Creek 1st gu g 48.1936; J • J
101o8DeO’O8
1104 ^ov’06
Registered
1936; J - J
2d gu gold5s
105
Apr’07
1936,J-J
Beech Cr Ext lstg 34s 61051 A-0
109
Nov’06
Cart & Ad 1st gu g 4s. ..1981 J-D
95 4 97
Nov’OP
Gouv<fe 08welstgug5s 1942 J-D
1154 1164 Oct ’10
1124 1164
1
Mob & Mai 1st gu g 48..199l]M-S
1114
1H4
1114 114
39
N J Juno R gu 1st 48...1986 F-A
Salt i 98
99
96*8 1004
1
N Y & Harlem g 34s...2000,M-N
974 Nov’10
974 97*4
N Y <fc North 1st g 5s...1927,A-O
100 4 Dec’09
N
& Pu lstoongug4s 1993; A-O
107
110
107 4 Sep’ll.
Nor & Mont 1st gu g 58.1916. A -O
115
OCt’lO
1.1.14 H5
98
M-N
J -D
M-S
J-J
M-S
Since
°5-c
BONDS
N. Y. STOCK EXCHANGE
Webe Ending Dec 2
964
967s
103
101
101
*94
J-J
J-J
)
Range
Ask Low
Bia
96
M-S
J-D
M-N
1940
1910
1931
Registered
Sink fund gold 6s
Coll trust gold 5s
Mohawk A Mai
Week?*
Range or
Last Sale
Price
1499
Record—Continued—Page 3
New York Bond
1910.J
6s
1934
Cuban-Amer Sugar coll tr 6s T8 *-U
Distil SeoGoroonv 1st g 6s.’27 A-O
E I duPont Powder 4 ^.s.. 1936 J-D
gDaaj’ne h Due J’ly /cDue Aug
0
764 764
764
Sale 102
97 Hi 074
94 4
944
66
66S. 66 4
97
100 4 97^
91
9214 924
102
106*8 Sale
80
Sale
86 4 salt
99
Salt
79 4 80*4
97 4
944 05
95
87
77 4 Sale
86
83
Due Oot
v Due
1054
79*4
86
98*4
774
1024
97 4
944
67
Nov’10
Nov’10
1064
80 4
86 4
904
80
96
80
764
84
78
84
Nov’lG
044
94*4
964 J’ly'io
23
72
25 100
2
034
844
103
984
92
102
66 4 734
04
101
89
93
34 104** 109
149
764 85*4
83 4 80
27
97
7S
102
16
764 834
93
07
2
934 064
97
94
291
67
78
1
84
88
6
fc
.
•
•«.
•
••
....
....
Nov 4 Due Deo t Flat,
New York Bond
BONUS
N. Y. STOCK EXCHANGE
Week
Ending
Week’s
Range
Deo 2
Guar 15-25 year g 4s
1931 A-O
Cl A Mar 1st gu
g 4%s..1936 M-N
Cl A Pgen gug4%sser A.*42!
J-J|
Series B
1942'A-O
Series C 3%s
1948! M-N
Senes D3%s
1950; F-A
ASA Low
100%
I 98
..—110
103 Ha
103 Ha
90
B.l94o(J
Week
Ending
b ia
Pac RR 1st ref 4s
1955 J-J
Southern—lst con g 5s.... 1994 J - J
Registered
1994 J-J
Develop & gen 4s Ser A. 1956 A-O
Mob «& Ohio coll tr g 4s..1933 M-S
Mem Liv let g 4%-5s...1996 J-J
St Louis div 1st
g 4s...,1961' J- J
Ala Cen R lstg 6s
1918|J-J
Atl 6b Danv 1st g 4s
1948: J - J
2d 4s
1948 J-J
Atl 6b Yad 1st g guar 4s. 1049 A-O
Col
Green v 1st 6s
1916 J-J
E T Va 60 Ga Div
g 5s..l93t> J-J
M-N
M-S
to
V.X77M mill
”92%
"
....
’
‘
*
76% Sale
84%
85%
..
Ulster A Del 1st con
1*00%
.
76%
96%
103% 111*4
73
67||
l!
81%
00%
85
...106
105
FeO’lO
......
......
j....
•
105*4 NovTO
105% 106%
107%
105
....
Oct ’08
103
1*0*2
1
Oct’06
108% Dec’06
107*4 Deo’09 HI!
105*4 NovTO
....
lib’s'%
107%
:105% 105%
91
% 106%
t
105
91
86
104
!
1
;
105%
103%
105%
106 %
106%
110
114%
106
65
Nov’09|I****
112% Nov” 0
iiT% ti3%
116
Nov’10
114
110
105% NovTO
105% 105%
75
103
112
103 %
106
109
}
118
105%
♦70
82
Nov’08
104% 107% 105% Oct TO
71
82%
jl04%
67
112
116
104%
82%
106% 106%
107% 109
110
110% 110%
% N vi
1.... | 91
106% May’iO|!.... T06
1U4
Fe
1
106% 106% Sep ’09
104*4 Oct
104% 107 %
100
116%
98%
j 06
J 109 109%
'
105
108
03
108%
109
Auj
97 % Oct 10
1U3*4 109
Nov’lo
'
t
4
jl08% 112%
■•*’1 j
1
■
70
70
111111:::::::
1106
A.
1
112%
’
6
00
i
92
b/
70
90%
Aug’10
16 %
lu
Oct
b7%
Iu4
Oct ’09
101 %!
100
17 100
46
106%' 368'
96%
20
8'
115
94%
03 %
b6%
91
106
99% 102
98% 101%
30:
04%
104%
90
81
80%
J’ne’10
lu!
116%
95
98%
94
98%
Li 3 % 117
4
?"108 % 113%
111*4
24
Jan ’uJ
91
04%
06
06
1
1
i
Nov’08
....
105
110% 105
94% 04
03
100
Sale
09%
06
J’ly TO
109
99%
100
86
09%
J’ly’lO
08*4 100
85
Saic
62
J’n
Mu
00
3*6*6
62
106
J’ly’io
46
....
Dec’oo!
'*75%
46**
105
94
12 10/
8 98
86
100
90
Oct ’ 1U
109
sale
lob
sep TO
46
3
45%
4/
105
b3
46
Sale
Sale
6%
7*4
7
Sate
.
6% NovTO
7%
7
83
89
"l>*6%
83
103%
86
102
90
77%
107%
33
32
90
52 %
54
4
11%
4
12%
41
....
86
•
113%
'*7*2% ‘*77”
89% NovTO.
83%
86% 55 b2%
7i%FebT0
/I
TS^Apr’lO
68%
100% JNov’00
110%T10 Nov’10
100%
| 86% SepTu
06%
| 34 Feb’07 ***1
86% Sale
108
98%
66%
105
.
"9*0%
Nigh
93%
*
1055
......
.
29
35
110
Sep TO
85%
85%
1| 80% 87
107% Nov’10 ....' 107% 107%
93
93
89% 93%
86%
102b
1939
Since
85
4it
oi!
Wabash 1st gold 6s
Range
® o
94
108%
85
108
...
V andaiia consol g 4s
Is
^ January 1
82% Oct TO
’
TO1....
LXXXXI.
a igti No Low
75%
85
103
107
80
82
*70
106
..
..
Low
a
107
or
Last Sale
93*4 Sale ] 93*4
107% Hale ! 107%
“
&S
Range
Dec 2
High
90
Week's
Friday
Dko 2
02*8
92*8 NorlO
J
Senes C
92 Hj
1940'J-J
98*.« Apt ’04
Gr R& 1 ex 1st gug4%sl941 J-J
100
106% 104 Ha Oct ’09
Pitts Ft W & C 1st 7s...1912 J -J
104
2 104% 106
104*8
104%
2d7s
104
1912 J-J
104*4 Nov’10
..104% 105%
3d 7s
A1912 A-O 103^4
107
Oct ’08;
Pitts Y<fc Ash 1st con 5s. 1927 M-N 107
109
May’10 ,...‘:109 109
PCC & St Lgn4*28 A...1940 A-O
107
1107
107*6 Nov’10
107%
Series B guar
107
1942! A-O i
107
Oct’10
..:jl<>3 Ha 107*4
Series C guar
1942'M-N
106 Hi Sep 10 ...*!106% 106%
Series D 4s guar
1945 M-N
'9b'4
1; 97% 98%
58%
Ga Pac Ry 1st
98%
g 6s......1922
Senes E 3Ha guar g....l949 F-A
90% Sale
90% 15 90% 94
90%
Knox 6b Ohio 1st g 6s...1925
Series F 4s guar
1953 J-D
siob 6b Bir prior lien
g 5s 1045
C St L A P 1st con g 5s.1932 A-O
112 Hi NovTO1.... Ill % 112%
Mortgage gold 4s
1945
Pensacola A Atl See L A Nash
Rioh 6b Dan con g 6s....1915
Peo & East See G G G A St L
Deb 5s stamped
1927
Peo 6a Pek Un 1st g 6s....1921
107%.... 112 Feb’10
112
112
Rioh 6b Meok 1st
g 4s...1948
2u gold 4 Has
91
97
........51921
Oct ’10
96
So
95
90%
Oar A Ga 1st g 6s....1910
Pere Marquette—lief 4s.. 1955 J-J
70
71
71 I
,70% 79
Virginia Mid ser C 6a...1916
CU& W M 5s
101
101% 101%
1921 .1 -D
100
101%
102%
Series D 4*6s
1921
Flint 6b P M g 6s
1920 A-O
108*4 --108% Sep TO .„
Series E 5s
108% 112%
1926
1st consol gold 5s
103
101
1939 M-N 102
101
Aug’10 ..
101
General 5a.
1936
Pt Huron I)iv 1st g 5s. 1939 A-O
106
105
Oct TO
101
106
Guar stamped
1036
SagTusds H lstgug 48.1931 F-A
W O <to W 1st cy gu 4s..1024
Phil B 6c W See Penn R K
West N C 1st con g 6s..1914
86
80
Philippine Ry 1st 30-yr sf 4s’37 J-J
89% J’ly TO1.... 83
S & N Ala See L A N
90
Pitts Cin <fc st L See Penn Co
Spokane Internat 1st g 5s 1955
Pitts Cieve & Tol See B A O
I er a of st e 1st g 4%a..l039
Pitts Ft W A Ch see Perm Co
A 1st con gold
6S....1S94-1944
Pitts McKees <fe Y See N Y Cen
Gen refund stg as
1953
Pitts Sii A h E 1st g 5s... 1940 A-O
112%
112 % Not
St L M Bge Ter gu
'112
112%
g 5a. 1930
1st oousol gold 5a
1943 J-J
Tex A N O see So Pao Co
93%
J'ly
’97'..-Jl
Pitts A West See B A c
Tex A Pac 1st gold 5s
2000
31 Aiding Co gen g 4a
Sale
98
1997 J-J
98
98% 40, 97 100
2d gold inc 5s
IV Registered
g2UOO
97% 98
1997 J-J
Nov’ 10'
! 95
La
Div
B
L 1st g 5s
98%
1931
Jersey Cent coll g4s...i951 A 0
97% 07%Nov’lu
W Min W A N W 1st gu os ’30
! 95
98%
Rensselaer 6b Sar see D A ti
Tol A O C iat g 5s.........1035
Rich & l>an see South Ry
Western Div 1st g 3s...1935
Rich 6b Aleck See Southern
General gold 5a
1935
Rio Gr W est See Deh A Rio Gi
Kan A M 1st gu
g 4s....1990
Roch A Pitts See B R 6b P
Tol P A W 1st gold 4s....1917
Rome Wat 6b Og See N Y Cent
Tol St L<fe W pi Jleug3%a.l025
Rutland
see Ai Y Cent
50-year gold 4s
19501
Tus
H See Pere Marq
Colitr 4s g Ser A
1917
Ot jo 6b Gr lsi 1st g 4s...1947 J-J
84
87
NovTO
83
Tor Ham <fc Bull 1st g 4s./il940
83% 94
St L 6b Cairo
See Moh 6a Ohio
St L A Iron Mount See M P
g os
1st refund g 4s.......1952
3tLM3r See T RR A ol St L
Uu Pac ItKJi 1 gr g 4s ...1947
St Louis 6b S F—Geng Gs.1931 J-J
118
120% 120 Apr’10
120
124
Registered
1047
General gold 6s
1031 J-J
106%
107
Sep TO1 ....''105 108%
‘20-yr conv 4s
1927
St L 6b S F RR cons g 4s..’90 J-J
89
1st A ref 4s
90
T0!
9l7b
Oct
91%
i/2008
Gen 15-20 yr os
1927 M-N
b6% Sale
Ore Ry <fe Nav con
90
84
86%
86%
g 4s. 1946
South w Div 1st
99
g 5S..1047 A-O
yy u Oct TO
Ore Short Line
99
100%
lstg 6s.. 1022
Reiimdmg g 4s
81
Sait
1051 J-J
81
1st
81%
consol
85
78%
g 5S
1046
K C Ft S 6b M con g Os..1928 M-N -116%
117
Sep'iu
Guar refund 4s
114
117%
1929
K G Ft S 6b M Ry ret g 4s 1930 A-O
77% 78
13
77%
77%
76%
82%
Registered
1929
K C A M R A B 1st gu 5s. 1929 A-O
100
100% Decile
Utah<fe Nor gold 5s.. 1026
Oz’rk A Ch C 1st gu 5s g.l9l3 A-O
57% 58% 98% Aug’10
Uni N J RR A C Co See Pa RR
96% 97
st Louis So
See Illinois Cent
Utah
Central See Rio Gr Wes
St L S W 1st g 4s bd
90
Sale
ctfs.1989 M-N
89%
fcO
88
93% U tah A N orth see U n Pacific
2d g 4s me bond
78
83
ctts...pl989 J-J
80
Nov'10
Utioadb Black R See N Y Cent
79
82
Consol gold 48
75
Sale
1932 J D
75
75
72% 79%
Gray’s Pt Ter lstgug 6s 1047 J-D
06
era Cruz d»Plstgu
101% Apr’07
4%al934
St Paul & Dui See N or Pacific
Ver Val lnd A W see Mu P
St P Minn 6b Man See Gt Nor
Virginia Mid See South Ry
btP&NorPao See 2ioi tac
Va «&> Southw’t 1st gu 5s.2003
St P 6b S’x City See C St P M <fco
1st cons 50-year 5s
1958
S A& A Pass lstgug 4s...1943 J-J
86% Sale
86
86% ir 83% 88%
3 F 6o N P 1st sink i g 5s.loiu J J
98%
104
Oct ’09
2d gold 5a
1939
sav F A Wcat
See Atl Coast L
Debenture series B
1939
Scioto Val 6b N E See S or 6b W
1st Hen equip s fd g 5s.. 1921
seaboard A L g 4s
84*4 85% 85%
stamped ’5u AO
1st
lien
So%
50
81% 86%
yr g term 4s. 1954
Coil tr refund g 5s
Sale
194.1 M-N 100
99 %
1st ref and ext g 4s ....i960
100%
99
100%
Adjustment 5s
75 % Sale
ol949 F-A
75%
77% 2
Det A Ch Ext 1st s 6s.. 1941
69%
78%
Ati-Birm oo-yrist g 4s.el033 M-S
c3 % s4
fc4
Des Mom Div 1st g 4s..1039
87
Nov’lOj. I 80
Gar Cent 1st oon g"4s...l‘J4o J-J
91
92
Oct To!. ..'i 91
Om DlV 1st g 3%8
92
1941
Fla Cen A Pen 1st g Os.lUlb J-J
101%
103
Apr’lOl.
Toi A Ch Div 1st g 4s... 1041 M-S
..103
103
1st land gr ext g 5s ...193u J-J
101%
Wab Pitts Term 1st g 4a. 1064 J-D
..it.
Consol gold 5a
105
J.y43 J-J
5
Trust co eertfa
.1103% 103%
103 %
Ga <fc Ala Ry 1st con 5801945 J-J
103%
104
Mar’10
2d gold 4s
.."104 104%
1954 J-D
Ga Car 6b No lstgug5s 1929 J-J
L05%
.!lo4 J’ly’ioi. ..j!l04 104*4
Trust Co certts
deab 6b Roa 1st 5s
1020 J-J
104s*
|106 Apr’10
Warren See Dei Hac A West
106
..106
sker Shr A So see M K <fc T
Wash Cent N'e«NorPac
Sii Sp oca 6b G see Atl Coast L
Wash O «fe W See Southern
Southern Pacific Co—
Wash Termi 1st gu 3 %s.. 1945 F-A
Gold 4a (Cent Pao coll). *1949 J-L
Sale
02
92 % 28 89
92
95
West Maryland lstg 4s...1962 A-O
Registered
*1949 J-i>
92
91
Oct’lu .-..'j b6
91
Gen A conv g 4s
.1052 A-O
2U-year conv 4s
Sale
g 1029 M-S
96%
Trust Co certfs
07% 333; 9il*4 106%
Cent Pac 1st ret tru g 4s 1949 F-A
"W Va Cent A P 1st
96% Sale
96%
97 | 62 : 94 % 98%
g 6s 1911 J-J
Registered
1949 F-A
97
FeUTOI
W68t N Y A Pa 1st g os..1937 J-J
07
97
Aiort guar gojd3%s../cl929 J-L
Gen gold 4a
90%
9,"34 40j 87% 90*4
1943 A-O
Through st L 1st gu 4s ’54 A-O
8b
94
J’ne’lo^
Income 5s
,
92
|
91% 94
<11943 Nov
G H & S A M A P 1st 5s.. 1931 M-N
105*4 103%'107 % Nov’10
\V est N o Car See South
103% 109
Ry
Gila V G 6b N 1st gu g 5s. 1924 M-N
104*4 ^ep *oaj
Wheei’g A L E 1st g 5s...1926 A-O
Hoas E «fc W T 1st g os.1933 M-N
103 % 105*4 105% May’ou
Wheel Div 1st gold os.. 1028 J-J
1st guar 5a red
1933 M-N
104 % 106
103 % Aug’lU
Exten A Imp gold 6s... 1930 F-A
H 6b TC lstg 5s int gu..l937 J-J
108*5 110 TO0% NovTO
RR 1st consol 4s
1940 M-S
Consol g 6s int guar...1012 AO
no
106%
1109 %Nov’o9
20-year equip s f 5s ...1922 J-J
Gen gold 4s int guar.. 1921 A-O
04
06 j 93*4 Nov’10
Wilkes <fe East See Erie
Waco & N W di v 1st g Os ’30 Y!-N
U5%
did *4 Mar To
Wil A Sioux if See St P M A M
A 6b N W 1st gu g 5s....1941 J-J
102
1107% Jan 00!
Wis Cent 60-vr 1st gau 4s 1949 J-J
Morgan’s La Jo T 1st Ys.1918 A O 115 116% 11 5% 115%'
1 115
115*8
Sup<& DuulivJb term lst4s’36 M-N
1st gold Os
J-J
1920
110 Ha
110% Oct TO
110% 110%
No of Cai guar g os
1938 A-O
Telegraph and Telephone
112
Feb’o7;
Ore A Cai 1st guar g 5s.
100
1927; J - J 100
J’ne’iO
100
Am Teiep A Tel coll tr 4s 1920 J-J
100
So Pao of Cai—Os E 6b F.1912 A-O
102
102
102 I
102
2 102
Convertible 4s
1936 M- 8
1st gold Os
1912: A-O 102
114% Lee’04'
Mich State Teiep 1st 5s..
1st con guar g 5s
1024; F-A
1937 M-K !«?*%
116
May’07*
N YTelep 1st A gens 14%s.’39 M-N
8 Pac of N
100
100% 100% Oct TO
J-J
101
Pac
Tel
1 st 5s
Tel<&
ioo%
So Pac Coast lstgu4s
19J7|J-J
93 i 90
84
g.1937 J-J
West Union col tr cor 5a.l93si J -J
J’ly*00'
Tex«teNOSabDivistgOs.l912'M-8
101% 101% May’10
Fd and real est g 4%s..
Con gold 5s
J.05O|M-N
1943 J - J
102
Nov'09
Conv 4b, Series A
1936 M-N
*0*6%
Price
N. Y. STOCK EXCHANGE
January J
High No Low
Oct ’10 ....i 04%
Jan *05
Jan ’09
11034
: 10934 J’ly’09
96
Aug’09
90
May%>8
90
Since
CQ-O
[VOL.
4
BONDS
Range
or
Last Sals
Pennsylvania Co—(Con)
Erie* Pittsgug3%s
Record—Concluded—Page
j
1500
•• •
90%
86%
73
74%
.
109
87
•
iib%
92
....
100
sale
06%
92% Sale
Mexlstg08..191l|
ib‘I% ioa%
ioo%
00%
J‘no’10
82
82
1
93
92%
92%
12
10
00%
90%
72
380
100% 05
08% Sale j 03%
97% Sale 1 97%
100
95%
Sale
103% 104
09
102
77
b7%
93% 08%
99
102
%
»
97%
...
..
104% 105%
103%
102*4 102
100
82
97%
100
100
95
101*4
102
82%
100
05
9«
00
80%
08
95
95
04
93
106%
90
*67
05%
33
2
a
05
99%
07
100%
99
03
07%
611 100% 102%
.UlJsCfcLl^ANEOUSs BON DS—Concluded*
Banulnctui'ing & Industrial
Gen Electric deb g 3%s..l942
10-yrg deb 5s
1917
Int Paper Co 1st con g 68.191b
Consol conv 8 f g 5s
1936
Int St Pump 1st s f 5s....1029
Lack aw Steel 1st g 6s....1923
Nat Enam <fc Stpg 1st 5s.. 192.
N Y Air .crake ist conv 6s ’2b
Ry Steel Spgs 1st s t 5s... 1921
Repub 1A S lst<fe coitroa. 1934
Union Bag A P 1st si 5s..l93t
Stamped.
F-A
J-D
F-A
J-J
M-S
AO
J-D
M-N
J-J
A-O
J-J
82
146% Sale
104% sail*
146%
103
86
87
86
90
92% 91*%
96 % bait
96%
95
06
102
Sale
102
Jan’ic
82
152%
101%
130
100
87
02
96%
Sep TC
103
97% 93% 97%
07%
101% 102% 102 Oct TO
90
03
93
05
105
87
88
Sale
Sale
93
93
82
152%
105
82%
01%
06%
95% 100
94
97%
100
114%
06% 98%
104
102
91%
93
MayTO
1 S ceath Co s Ideb g6s..l9l3 M-N
104%
104% Nov’10
104%
J 8 Realty A I conv deb g 5s ’24 J-J
86%
87
87
85%
J S Red A Ref 1st s f g 68.1931 J-J
84
87
Nov’'0
86
J H Rubber 10-yr colTtr6s.T8 J-D
102 %
102%
103
36
10J%
J S steel Corp—1 coup ,hl963 M-N
103 %
103%
103% 203 101%
SI 10-60 yi os.
\ reg
4 101%
....<. 103*8
103%
♦No price Friday; latest bid and asked this week.
..<tl903[M-N^103
5 Due Feb
89%
d Due
96%
96%
105
04%
00%
104%
106%
105%
Apr
«
Miscellaneous
Adams Ex col tr g 4s....
J-D
J-J
99% 99%
91% Sale
91
M-S
J-D
91% Sale
91% 01*4
90%
91%
A-O
J-J
Chic Jocfe t Yard 00lg5s.l9l6
J-J
DetM AMldgr incomes..1011 A-O
institfor Irrig Wks 4%s 1943 M-N
Int Meroan Marine 4%a..l022 A-O
int Navigation lstsf 6s.l920 F-A
Newp Ne Ship A D D 5s <11000 J-J
N Y Dock 60-yr 1st g 4s..1051 F-A
Providence sec deb 4s....1957 M-N
Provident Loan Soo4%s.l021 M-S
S Yuba Wat Co oon
g 0s.. 1923 J - J
Wash Water Pow 1st 5e..l939 J-J
Consol
Due May
os
-
a
Due J’ne h Due J’ly
80
98
95% 105
35
40
95
64
80
08
91
Sale
18
1<
100
May’lo
Aug’10
06%Nov’lO
64
92%
05
01
90
05
112
103
I
65
81%
Dec’09
91%
Sep TO
J’ly’09
J’ly’04
Aug’10
02% 100%
85
90
00%
87%
05%
03%
93%
94%
89
98
100
35
35
81%
••••••
91H,
92
Nov’10
23
20
fc9
95 % uct ’lu
81%
••••••
92%
b
96
56
76
6
00%
~36
98
71%
83
00
102% 103
101
ib»-.
kDuQ Aug oDue Oct p Due Nov 4Option
fruit
....
CHICAGO STOCK EXCHANGE—Stock
Saturday
Monday
Nov. 20
Nov. 28
Tuesday
Nov. 29
CHICAGO STOCK
EXCHANGE
of the
Wednesday
Thursday
Friday
Nov. 30
Dec. 1
Dec. 2
Week
Shares
Lotcesi
Railroads
*1%
*1%
212
*6
91
25
*6
91%
91%
25’. o
26
11
*10’
>
*5%
4 <3
*
*10t2
*6
c
5
412
2D4
*
*70
75
20
64
22
60
*70
20
G4
*18
60
*lllo
*52 "
10%
81 “
G7l2
20
65
*18
*55
67
12
55
*52
“ *11%
912
77l2
10%
81
”
77%
123
78
111
111
*142% 143
*33
63
*48
*1
*2
34
63%
60 ”
1%
41%
*123 '
152
3
42
152
25
231*
11
*10t2
11
*9
6
11
6
11
4%
41 f
1919
*65
*18
*58
65
75
1919
67
22
CO
66
*20
*70
*19
64
*18
*58
*64
1138
*11%
55
*52
113s
12
*52
55
9%
7S12
10
9l2
77i2
10
81
77%
*260
*260
34tc
63%
*48
*1
*2
40
123
3
42
123
*150
155
0
*
77%
*111
*141
112
*111
*1401? 141
351?
64
50
35%
*
*48
*1
60
1%
115% 116
*
128
128
3534
63
*48
*1
*2
41
Us
3
41%
*2
*401?
6%
4'8
2114
*6
2114
*70
67l2
131
*77
78
*1101>> 112
142
*141
♦1153a 116
2334
6*4
*
*
3412
6312
2534
92
*10i2
6I4
412
20
65
22
60
*260
*260
128
*91
25
92
25%
*6
*6
*91
24
92l->
2534
11 '
6I4
47g
2D4
75 ‘
2%
*1%
212
*112
212
75
20
65
22
60
66
12
55
G34
781?
155
116
41
*150
6%
155
1151? 116
335
2,015
Oct’10
20
65
pref
1,365 iletropol W S Elev
Do
324
pref
Do
-
66
12
11%
]114
56
54
56
GSg
9
76: 2
7
260% Nov’10
135
78
112
+125
78
+1101 0
141% Nov’10
June’09
*8
Amer
....
Shipbuilding
pref
13
6% Aug 16
6
,an
77% Mch 30
25
J’netl
72
J’ne 22
23
J ne24
66
J'netl
72% J ne22
■
Telep & Teieg
3
Jan
6
8912
"
64
97
0
21
112
122
112
*121
*120
89l2
91
70
65
0
64
*
0
97
0
0
111
*121
123
119% *118
12512
*118
1083s 106%
90
-69
88l2
88%
8934
65
70
67
*
21
♦ 111"
in
*121
122
*120
123
11919 119
64
97
0
21
112
122
122
119
0
182% 1833* 178*4 18212 178
•119
120
*119% 120 *11912
10315- 1037*
10314 1031? 103%
*165
170
170
170
*169
103
8
21%
103
812
2H2
102% 103
8
7
103
20
20
191?
64
97
0
*121
120
*118
6'8
181
120
179
120
120
1031? 103
170
*165
103
7
103%
170
+1021? 1031?
638
(>34
23
25%
25
Inter-
Price
st
Friday
P-rioi
Dec. 2
_
Chicago City Ry 5s
1927
Chic Consoi Br & M!t 6s
Chic Consol Tr&c 4 Hjs 1939
Chic Auditorium Ist5sl929
Chic Dock Co 1st 4S..1929
Chlo Jc HR 1st M g 5s. 1943
Chic No Shore Elec 6S.1912
Chic Pn? Tool 1st 5s_al921
Chic Ry 5s...
1927
Chlo Rys 4-5s series *‘A”
Chic Rys 4-5s series “B”
Chic Rys 4-5s series *‘C’
Chic Rys coll 0s
1913
r
-
J
-
A
i)
A
-
u
F
J
J
F
J
J
F
A
A
-
-
-
102
J
D
101%
-
-
D
-
F
-
-
Ogden Gas 5s
Pearsons-Taft 5s
1945
1916
4.40s
4.60s Series E
4.80s Series F
Peo Gas L & C 1st 6s. 1943
Refunding g 5s._..1947
Chic Gas L&C 1st 5sl937
Consum Gas 1st 5s_1936
Mut’l Fuel Gas Ist5sl047
South Side Elev 4Hs_1924
Swift A Co 1st ? 5s
1914
Union El (Loop) 5s..1945
Union Pacific oonv 4S.1911
United Box Board col 6?'26
General mtge 6s.
.
Western Stone Co 5s__l909
Note—Accrued 'nterest
>\
-
J
A
-
M
-
>1
J
-
S
J
<J
s
s
-
D
-
N
A - O
J - J
Feb
F
J
J
.vl
941-
Corn Exchange Nations
Rrexei State
Drovers' Dep National-
J’ne’09
Oct’09
May’07
10L%
102%
103
Apr'04
50
Apr’09
96% Jaa’06
102% Sale
94%
87
86%
98
88
Sale
,
99
101% Sale
_
A
-
J
_
_
Englewood State
First National
First Nat Englewood
Foreman Bros B k’g Co.
Fort Dearborn National
Hibernian B'k’g Ass’n..
1013s 103%
8
Kaspar State Bank....
_
io'i
Dec’OS
Feb’05
Nov’10
87%
1013§
87% 95%
84%
io
96
Nov’10
75
32
80%
_
81% Sale
79
90%
97% 101%
Sep’10
Apr’08
Aug’08
July’OS
Q7L
93
mnio 1003,
i
102
101%
10078
Nov* 10
Oct’10
Deo’,08
95%
94%
Oct’10
Oct’10
Oct’10
77
16
May’05
82
78
Nov’10
40
14
82%
11
J
90%
907g
90-% Sale
V
25
95% Sale
95%
95%
M
99
Q Apr’10
7
n- N
92%
92% 93
92%
j - D
100% Mch’09
98%
M - S
95
96% Mch’10
Vl - N
96
Feb’lO
97
M - N
98% Mch’10
97%
A - O
121% May’09
M i
101%
J
101% 101%
J - J
103
103
Nov’10
J - D
101
is
101% 101
M - N
101
100% Oct’1C
J « J
92
92
2
Sale
92
J - J t—- 100
100
Nov’10
A - 1/
88
Apr'10
114
Nov’04
>1 - N
61
70
Apr’10
J - J
61% Oct’10
58% 60
O
A
85% July’Ob
mu«r be added to all Chicago h ond
_
100
Stock Yards Savings
Union Bank of Chicago.
102%
9434
9434
95%
9434
75
85
80
76
88
84
80
9384
93%
96%
99
99
92%
96%
96%
96’%
'
_
_
—.
....
...
Railway Exchange....
Security
South Chicago Savings.
South Side State
State Bank ot Chicago..
Washington Park Nat’l
-
__
29% Apr
Feb
97
101
139
10
48
Dec
75% Dec
Apr
39%
j an
137
163
Mch 10
55
1
3
47
121% Jau 11
2
'6
66
May
J’ne
86
Jan
1
5
Jan
4U
Apr
51% Jan
1
Apr
2% Apr
68
20
127
Mch
Jan
42
l>ec
140
Sep
117
107
Jan
152
Oct
Jan
121% J 'ly
Apr
2% Nov
1
Jan 13
22% Jan
82
127
91
Jan
54% Apr
Feb
Aug
% J ne
% May
5
Jan 4
Feb 17
Feb 4
Sep 23
Feb 1
Jan 3
74
Jan
luo
17% Feb
70% Mch
fc
Feb 28
.’an
6
Mch 28
Jan
7
Oct 26
43
Jan
«J ail
Jan
20
Nov
117
25% Aug
88% May
13034 Aug
88% Dec
Sep
47
1U2% Apr 20
ii5
125
Jan
7
Jan 18
97% Jan
118% Feb
21
J’ne
119% Sep
130
Sep
108% Dec
124
Nov
119% Aug
Oct 31
Nov 1
115% Jan 3
82
110
102
186% Nov i2
8
55
101
8
100% Jan
169% Dec
12134 Oct
114*4 Aug
119
Jan
162
98% Jan
105
145
123
i22
Mch
10D-*gJan
183
9
106
Feb 19
May 2 6
Jau
6
Jau
Jan
NOV18
Jan
Jan
Mch
1
% Feb
Dec
t>ft Feb
Dec
1% Mch
33j Mch
15
Feb
91? Jan
25
Mch
15% Jcin
26
Jan
97
97
98%
98%
_
_
-
10034 103%
104%
100% 102%
100% 101%
9134 94
103
100
88
10078
88
.
_
70
61%
prices
70
65
Dividend Record
Outstand¬
Surplus
ing
and
Stock
t
Profits
In
In
T
1908
1909
6
846,478
iiuu.uou
10
10
215,216
590.00. ■
20,000,000 9,764,964
12
12
3,000,000 6,497,543
6 ’
9
30,767
200,000
10
402,510
9H
600,000
6
6
40,916
200,000
12
lit
10,000,000 10,903,894
10
10
193,486
150,000
Priv ate Ba
552,446
1,000,000
8
8
417,082
1,500,000
8
8
981,665
1,600,000
10
10
162,240
200,000
1,000.000
258,839 Beg. b ■is. M 1
10
525,597 104-2
1,250,000
4
4
66,795
300.UUJ
8
8
2,000,000 1,255,625
3
6
405,878
1,500,000
3
81,807
250,000
70.952
6^
200,000
6
6
29,191
60,000
People's Stk Yds State.
100-% 103%
100% 1027s
100% 1007ft
100
10012
Aug’09
80
National Produce
North Avenue State
North Side State Sav’gs
North West State
tPrairle National
Prairie State
-
_
National City
86
91
Mch’10
Nov’10
100% Nov’10
95%
Ba Salle St National
Live Stock Exch’ge Nat
Monroe National
Nat Bank of Republic
..
98%
101%
100%
100%
_
73
87%
79%
90%
98%
97%
100%
66%
66%
102
102
-
-
86*4
98
8S%
79% Sale
A
A
A
A
Nov’10
Calumet National
Chicago City
Conti’tal & Comm Nat
High
99%
.
Co 5s
1913
Knlck'b'ker Ice 1st 5s 1923
Lake St El—1st 5s...1928
Income 5s
1925
Metr W Side El—
1st 4s
1938
Extension g 4s
1933
Morris & Co. 4 ^
1939
North West El 1st 43.1911
No W G-L & Coke Co 5s 28
99%
90%
100
F F Chic Rys Fund 6s__1913 f* Chic Rys Tern Ctfs 1st 5s
Chic R 1 & P RR 4S..2002 M- N
Collat trust g 5s—1913 vl - 5
Chic Telephone 5S....1923 J - 11
Commonw-Edison 5s. 1943
Chic Edison deb 6s.1913
1st g 5s
July 1926
Debenture 5s....1929
Commonw Elect 5shl943
Illinois Tunnel 5s
1928
Kan City Ry & Light
Low
O
S
O
J
A
G
-
\
J
A
J
A
A
J
D
A
Year 1910
High No.
99% Mch’10
91%
NAME
Range
for
Ask Low
Bid
Amer Strawb’d 1st 6s_191t
Armour & Co 4 Hs
1939
Aurora Elgin AChlc 5.1941
Cal & So Chlo Ry Co
1927
1st M 5s
Cass Av & F G (St L) 5s '12
Chic Board of Trade 4sl927
B’ds
Sold
Week'i
Range or
Last Sale
Jan
Jan
63
60
.»an
13% Jan
29% Jau
52
J ’ly
86i? May
19% Dec
59
Dec
25
May
73
May
61
May
64i Dec
103
Deo
Chicago Banks and Trust Companies
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week, ending Dec. 2
Dec
15‘g Sep
47
Jan
17
Nov
78
30
84i2 Mayl6
Jan 11
142% Mch 9
4
112
‘
105% 106
179
_
Dec
30
119% J’ly
45-% Jan
126
joo
--
.
21
112
122
120
119
♦111'
10512 105*4
10534 I06l2
89"g
68%
Jan
Jan
4
Jan
260% Novl7
.
*69
15
15% Nov
Ji’no
225% Oct
132
J’ly
81 ig Deo
112
Sep
145
Nov
82
Booth (A) <Sc Co
100
Do
June’09
pref
100
%
31
J’ne 6
776 Booth Fisheries com
37
37
56
J’ne 6
Do pref
*64
65
608
47
Aug 11
Cal & Chic Canal & D.100
47
Aug’10
1
Feb
4
Chic
Brew’g & Malt’g
1
Nov’10
3
Sep 23
Do
Oct’10
3
prel
25% J'ly 26
871 Chic Pneumatic Tool. 100
41
41%
40% 41
110
May 17
91 Chicago Telephone...100
123
123
123
123
l)o
rights
Feb’OS
2%
Title
&
Trust
100
142
Aug
26
Chic
25
155
153% 153%> *153
108% J’ly 27
713 Commonw th-Edison.lOO
115%
115% 115% *115
1% Jan 26
Do
rights
Feb’lO
Last Sale 1%
Corn Prod Re^ Co com
13% J’ly y
Nov’10
Last Sate 17"%
Do
uo
79% Apr 7
pref....
Last Sale 79%
Apr’10
100
82% Sep 30
425 Diamond Match
'£0
*88
*39
90
53
Brick
100
J’ly 20
Illinois
66
65
66
67
2,328
Masonic
Tempie
43% Men 9
45
Ausr’10
Last Sale
40
Mcb 17
Mlo
102 McCrum-Howeil Co..100
63% 65
93
J’ne28
Do
2
pref
97
97
97
*96
&
Chic
Milw
Brewing..._
June’07
Last Sale 2%
Do
pref
20
Aug 3
100 ioi
205 National Biscuit
110
112
110
*110
Do
pref
100 U8 J’ly 19
Nov’10
Last Sale 121
100 104 Feb 24
i85 National Carbon
123
123
*119
125
Do
pref
100 112 Feb 10
15
*119
120
*118
120
J’ly 26
104
674 People's Gas L&Coke.lOO 103
104
105
104%
Do
rights
Last Sale 11-16 Meh’09
100 148 Feb 7
179
1,696 Sears-Roebuck com
180% 177% 179
Do
85
pref
100 116% Aug 8
*119
120
119% 119%
Sep 16
100 101
101
2,122 Swift & Co
103% 101% 102
Tbe
Quaker Oats Co_-100 155 J’ly 27
165
165
105
*170
171
6
Jne22
Do
Junft’If)
rights
Last Sale
Do
pref
42
100 101 J’ly 16
103
103
102% 103
5% Apr 28
6%
6% 1,792 Unit Box Bd & P Co-100
6%
6%
Do
pref
10(
Last Sale 734
Apr’09
15
Jnc30
r-torie
10(
Western
22
'23%* 2,030
24% 24%
Oct
7% Jan
71% Jan
13% Jan H
6% J’ne 30
62% J’ly 26
240
Apr 26
1.6 J’ly 19
72
Feb 7
Aug 6
107
131% J'ly 30
100
100
54% Jan
104
Feb
4
97% Dec
3)
Dec
101? Dec
8
Dec
3% Dec
39
May31
55% J’ly 5
7
J'ly 28
40
J’ly .6
190
Mch
5
Jan 3
36
Jan 3
16
Jan lc
9% Ja;’
6
J09
Highest
1% Oct
180
Mch 7
3% Jan 26
7% Jan 7
63
Miscellaneous
100
1,470 American Can
Do
pret
100
1,059
American Radiator..100
Do
pref
100
15
43 Amer
Do
50
185
24
28
28
.8
Mav2«
fciay24
2% J ne 29
20
Aug 8
69
Feb 17
Jan 14
16
51
Feb 7
15
Apr 1
100
100
100
Loicesl
Highest
8
3
_100
100 Northwestern Elev
Do
110
pref
100
348 south Side Elevated._ 100
60 Streets W Stable C L.100
Do
100
pref
.-100
20
63
*54
9%
598
4%
Nov’10
*11%
9%
10
80
6%
4%
4%
Last Sale 22
Last Sale 75
*19
*19
20
63
*33
G5
18
*19
20
63
+60
63
65
65
65
♦77
*78
Last Sale
130
*128
131
79
77% *77
*111
112
112
Last Sale
141%
Last Sale
Last Sale
36
3G34 37
64
65
63
Last Sale
50
Last Sale
1%
Last Sale
3
12314 12314 *123
*150
115
*4%
July’10
July’10
92
23
11
Oct
1% J’ly
4
J’ly
60% Sep
11% Sep
160
Chicago City Ry
100
Chicago & Oak Park_.100
Do
100
prel
Chic Rys part ett “1” —
Chic Rys part ctf ‘ 2”
Chic Rys part ctf ’*3"
Chic Rys part ctf "4"
Chicago Subway
100
Kans City Ry & Lt._100
Oct’10
Last Sale 170
Last Sale 1%
Last Sale 4%
91
91
91%
Hange for Previous Year
(1909)
Range for Year 1910
STOCKS
Sales
SALE PRICES
AND LOWEST
STOCKS- -HIGHEST
Record—Daily, Weekly and Yearly
vVendeii state
Central Tru«t Co of III..
Chicago Sav Bk & Tr
Chicago Title & Trust..
Citizens Trust & Savings
Colonla1 Trust & Savings
Cont & Comm Tr & Sav.
Drovers' 1 rust<5c Savings
Farwell Trust Co
First Trust & Savings..
Guarantee Trust & Sav.
Harris Trust & Savings.
Illinois Trust & Savings
Kenwood Trust & Savgs
Lake View Trust&Savgs
Merchants' Loan&Tr Co
M etropoilta n Trust <kSa v
Michigan Ave Tr Co
Northern Trust Co
North-Western Tr&Sav
Pullman Trust & Savgs.
Sheridan Tr & Sav Bank
w Standard Tr & Sav
Stockmen’s T rust & Sav
Union Trust Co.
» West’n Trust & Savings
West Side Tr&SavBank
Wood lawn TrA^avRan
200,000
300,000
250,000
500,000
250,000
300,000
200.000
200,009
1,500,boo
O
22,228
109,876
(»)
8
86,405
2
33,452
194,357
6
89,000
10,439 Beg. b
11
An
Last Paid *
%
Dec
’0j, 6
I'dy TO, 5
Oct ’10, 2%
Q-J Oct TO, 4
Oct
TO. 1%
Q-J Oct TO 2%
Q-J Tct TO, 1%
Q-M Sep 30’ 10,3u
J-J
Q-M Sep 30*10,2%
nk
Tct
Oct
TO, 2
TO, 2
July TO. 6
y’lb V.90. p.1277
Q-M Sep 30T0 2%
Q-F Nov TO. 1
Q-J Oct TO, 2
Q-J Sep30 10. 1%
Q-J Oct TO. 1%
TO. 134
Q-J Oct
Q-J Oct
TO, 1%
TO, 1
Q-J Oc
Q-J
Q-J
J-J
.
6
None
•
1,782,614
Per¬
iod.
Oct
Q-M
OCt
Jan
....
1H m-J
Q-J
Sep t '09
12
Q-J
8
Q-M
6
us
Q-J
TO, 2
TO, 1%
*03, 2
Oct TO. 1%
Oct TO, 2
V. 89, p. 817
Oct
TO, 3
3ep30To,;;
Nov TO, 3
7
200,198
250,000
6
6
M N
37,006
200,000
100.00J
7,877 See V. 9J, p. 159
6
None
Q-M Dec31’08,l%
10.044
50,000
/
7
Q-J Oct
938,613
TO, 2
2,000,000
6
Q-J Oct
TO, 1%
112,944
1H
n500,U00
6
6
Q-J Oct. TO. 2
5,000,000 fl,643,802
A-O Oct9, TO, 3
4
4
8,622
5U.00J
Q-J Oct TO, 2%
600,000
459.366 8 + 2
8+2
3,000,000
444,155
8
Q-J Oct TO 2
123,963
7H
200,000
3
Q-J Oct. *JU, 1%
173,728
1,500,000
1J
Q-M Sepi /10, 4
2,600,000 3,165.066
19,621 1ncorp orated 1908 V.87.p.ll33
200,000
6
9H Q-J Oct TO. 3
1,250,000 1,471,163
Nov 19'10. 1
Q
5.000,009 8,609,829 16 + 4 16 + 4
6
6H Q J Oct TO, 1«4
59,499
200,00J
5
TO, 1%
Q-J Oct
41J92
4H
200j(K)0
12
12
TO, 3
Q-J Oct
6,000,000 6,012,401
fi
6
Q-J Sep 30 10,1%
226,783
750,00*0
29'1
us.
Oct
0V91,p.1221
1/50,000 Beg. b
200.000
8
8
Q-J Oct
TO, 2
1,500,000 2,382,905
J-J
6
6
Inly TO, 3
60,040
200,000
8
8
Q-J Oct
TO, 2
233,906
600,000
200.000
21,530 Beg b us. J'ly 12 '0 9 V 89,p 141
bus.
Sept 6 1910
260,075 Comm enced
1,000,00(
6
J-J July TO, 3
6
39.003
200,000
8
48
+
2
Q-M Sep30'10,2
1,200.000 1,161,140
6
6
Q-J Oct TO, 1%
148,374
1,250.000
Sep 30T0.2
119,05(
200,900
6
6
Q-» Oct TO. 2
200 >IX
66,122
—
.
*
Bid and asked prices; no sales were made on this day.
T Nov. 10 (close of business) for national banks and Nov. 11 (opening of business) for'State InstitutionsX No price Friday: latest price this week, a Due Dec. 31. b Duo June, k Also 20% In.stock, n Capital and surplus to be increased,
q Dividends are paid
with extra payments Q-F.
» In addition the equivalent of 4% more came from First Trust 4; Savings Bank,
t July 311910. u In addition the equivalent of 1% cams
ffom First Trust <fc Savings Bank.
v Prairie Nat. Bank and Western Trust <fc Sav. Bank merged and capital of latter increased from $1,000,000; V. »1. p. 314.
to See
V. yl. p. 72, 17.
V Sept. 2 1910.
Q-J.
„
BOSTON STOCK EXCHANGE—Stock Record, Daily,
Weekly and Yearly
SHARE PRICES—NOT PER CENTUM PRICES
Saturday
Nov. 26.
Tuesday
Nov. 28.
Nov. 29.
Wednesday
Thursday
Nov. 30.
Pec 1
*1033s 103% 102% 102% *101% 102% 101%
*10034 10134 *100% 101% *10034 10134 *10034
223
223
223
223
223
223
t22034
12S!2 128% 128 128
127% 128
12778
*215
124
*295
*15
*70
*215
123
*295
*16
72
124
*16%
72
10
40
*
40
*113
*265
*131
*87
*209%
*1934
131
*117
87
40
*158
*113
131
*117
*87
*209*2
19%
19%
87
*139
19%
*86
141
*139
9034
45
5
15
15
*116
117
142l4 14234
*34% 35*2
9334 94%
‘ "
10% 10%
20
*6
44%
100
5
14
101
116
117
*34
9334
*6
153%Nl49
9
*8*4
8I4
*6
*147
834
981
160%
9012 90%
9312 931
9318
*1018
20l8
7
153
*149
284
14034 141%
48%
100
478
15
114U
9
281
20%
*6
*147
*8
*93*
138
10912
*
110
*13712 138
*27
194
56
91
•
8
8
11%
*27
195
56
5614
28«4 29
76% 7912
11714 11734
19
91
91
11%
281,
196 "
9
281
•734
1034
734
1034
2812
196
56
734
10%
734
10%
43
44
43
43
69%
69%
43
29
29
6634
2734
69%
2S34
6634
27%
17
17%
712
7%
*.50
.55
*16%
1634
6%
19%
5o34
6
1978
55%
♦573
4
13%
13%
*....
54
738
2
1%
*47%
*7%
14
*60
5%
35%
4634
*234
24
*49%
2%
*9%
71
311
37
8%
£34
.60
20%
14%
18%
738
3%
3434
7%
19
71 a
8
9%
.60
19%
434
10%
126
2
*1<34
Bu and
4
35
7
7%,
*7%
8
22%
2
14
19
7%
3%
35%
16
7
.55
15
41%
653g
27%
14
1434
534
70%
1U«>
*.15
10!»
123ft
7%
.20
10%
7%
43
7%
23
13
18
14
19
7%
3%
33%
7%
8%
1%
7%
3%
19%
19%
*191*
*3%
4I0
48
4
47
1934
20%
19%
4%
1034
3034
8
9%
13%
534
434
1034
33%
123.,
45
46
7%
13%
5%
13,
7
734
1%
*1%
12%
1%
44%
*7%
*71 •>
13%
7h
13%
58
58
5%
5%
34%
46%
234
467g
23
48
23%
22
48
4738
*2%
9%
35
3
34%
46%
3
74%
45
7%
14%
5%
35
4678
3
2210
4%
10%
33%
4%
1034
2934
6%
634
7
8
_
1*4
12%
1%
60
*31o
45
19
19%
4
45
91%
74%
20
20
*1%
1134
*1%
1*4
12%
1%
41
7%
13%
*
5
33%
46%
2%
16%
4534
44
7%
14
57
5
34%
46%
234
21%
4534
61c
63
1'sov’10
15
13%
6%
6%
*.50
13
.55
14
5lc
538
_
*
18%
*138
11%
1%
4034
738
12%
*53
5
33
46%
234
16
Mm;11 n
45
18%
4
1034
28%
634
6
+.50
39%
125
*12%
74%
74
191c
18%
1%
134
1134
73S
133s
57
5
1934
4
45
3*620
74
19
1%
11%
4234
6%
1234
*50
5
41
33%
3234
46%
234
18%
46%
46
2%
12%
45%
~
150
455
579
52
135
Cons Mercur Gold....
1
Co 100
Copper Range Con
Daly-West
45%
15
JTy 26
Feb 1 ■;
Aug 15
4
J'ly 13
Jk)
Old Colony
Old Dominion Co
Osceola
Parrot Silver & Cop.
58
.05
Quincy
x6
3
Sep 1
J’ly 7
28% JTy 15
7% Nov 17
4% Mch 8
Oct 21
Nov 15
17
J’ly 18
.35
.01
378 J’ly
j’ly
17% JTy
3% JTy
934 Jan
25
5
25
Trinity
10
10
10
5
25
10
10
25
25
7,880 U S Smelt Ref & Min.
Do
1,587
pref
25
Utah-Apex Mining...
...
....
and
20
25
25
25
JTy 26
JTy 6
638 Sep 29
1434 J’ly 19
1«4 Oct 27
10
J’ly 18
13% May 3
25
10
Oct 11
9% J’neoo
6
20
25
25
Feb 17
3% Sep 28
6% JTy 13
5
25
25
J’ne30
Mch
May 4
4% Nov 6
15% J’ne3o
4434 JTy 12
600
JTy 6
13% JTy 15
.04
JTy 6
25
...
Jan
Nov
Jan
Jau
Apr
165
88
102
49% Oct 20
Sep 26
8% Feb ii
94
226
I
124
115
100
200
26
6
13
17
18
J’neoo
6% JTy 13
5
Sep 7
.25
Aug 9
29% J'ne 15
114
JTy 27
12
JTy 6
66
JTy 6
15% JTy 1
1% NOV26
834 J Ty 5
1% Dec 1
36
JTy 19
4% Dec 2
9
JTy 5
45% J’ne 22
4% JTy 18
33
Mch 31
Deo 2
3234
4534 J'ly 20
2% J ly 22
12% Deo 2
/j3934 J’ao30
2
Deo
6
JTy 13
102
J’ly 12
JTy 26
Hi
rights.
1
Jan
5
Feb 11
14
Oct
3
10934 Jan 10
34% Jan 3
31
May 6
200
Sep 10
7134 Apr 18
31
Jan
U034 Jan
125% Jan
1ij34 Sep 30
04
Jau
n
Jan
Oct
50% Aug
Jan
Feb
20% May
24% Jan
126% Jan
Alch
t54
28% Jan
41134 Feb
107
.7
Feb
6% Jan
685
Jan
Jan
38
.16
85
9
14
Jan
Jan
36
3
3
3
101
3
58Mch28
2%
22%
12%
111%
ll7s
Nov 14
Feb 18
Alch 9
Jan 10
Jan 3
Jan 3
Jan
5
6% Jan 14
94% Jan 22
19
Jan 14
13
1'sJan 13
5
J an
7
29 Jan
4
10% Oct
8% Jan 21
75
Jan 22
27% Jan 11
10% Jan 12
12
May26
60
Jan
257g Meh
1234 Jan
1% Feb
65
166
3
1
J an
Jan
Mch
24% Mch
234 Jan
18
Jan
334 Jan 19
68% Jan 14
18
Jan 12
16% Jan 10
78
Jan
5
11% Jan 3
41% Oct 21
65
Jan 3
£3% Jan 3
5% Jan 3
46
Jan 3
60% Jan 3
534 Jan 14
15
260
Feb
17% JTy
8
Sep
21% Feb
96% May
685
29
.10
68%
7%
7%
1
13
7%
90
9
Feb
Feb
J’ne
Feb
May
Feb
Oct
Feb
J’ne
Feb
Feb
8% Sep
5% Deo
22% Apr
7% Apr
2% May
Jan
16
1034 JTy
4% Mch
,30
Apr
3%
12%
684
*57%
16%
3%
9%
Apr
Feb
Oct
J'ly
Feb
Nov
Oct
47
Dec
4% Mch
534 Nov
7
14
21% Jan
92
Jiy
.45
Jan 12
578 Jan 4
44% Mch 9
28% Jan 3
II
145% Sep
40% Aug
J’ne
12% Sep
5119
.40
J'ne
47% Feb
122
19
83
Feb
Dec
Dec
1% Nov
13% Feb
34
Jan
13% Nov
12% Apr
62
J’ly
9% Dec
28
39
44
Jan
Jan
Feb
4
Oct
37% Feb
3934 Feb
3
Jan 14
Jan 3
139
3% Jan 14
2
Oct
434 Apr
Mch
Oct
Aug
8% Oct
147% Nov
13% J’ne
260
Apr
173
Aug
83 % Dec
97
Apr
220% Dec
3% Oct
Oct
Oct
Sep
Oct
Aug
Sep
114% Aug
Dec
Nov
Dec
34
35
170
71
Oct
31% Sep
94% Oct
Oct
Dec
Dec
131
1J
96
10% May
62
Oct
96% Nov
40% Dec
Mch
38% Feb
Feb
30
8
Apr
Apr
108
Jan
Feb
34
65
23
3
Mcb 2 5
Jan
136
131
478 Oct
1
1
24% Jau 13
18% May25
28% Jan 3
103
Mch
76
J’ly
9% Feb
22% Nov
105
125
118
139
108
199
12
Jan
100
6334 Jan
50% Jan
12% Jan
.70
Apr
Jan
J’ne
117% Aug
107
Aug
218% Aug
117% Aug
175
Apr
98% Apr
112
Apr
Jan
126% Jan
75
Feb
168
Jan
y34 Jau
14% Sep 15
Feb
00% Jan
4u% Jan
40
Mch
Apr
Feb
Mch
Jau
2
68
93
Oct
Nov
174% J’ne
149
Aug
215
Sep
200% Jan
Dec
202% Men
3
5»
Dec
33% Jan
Jan 3
Jan 11
138% Mchll
12
43
N o v 14
634 Mayiu
103
19
Apr
168
Jan 17
95% Alch 8
109
Feb 10
Mch
Feb
J’ly
84
190
26
5
2
jan
J’ne
162
123
275
136
88% Sep
195% Jan
Oct
200
105
2
10
25
25
10
5
25
UnltedStatesCoal&Oii
935
14
81
5
20
25
25
25
25
J’neJO
JTy 13
55% JTy 12
19% JTy 26
36
J’ly 13
12% May 4
Granby Consolidated. 100
Mayflower
6
31
20
East Butte Cop Mln._ 10
Elm River
12
Franklin
25
Giroux Consolidated.
5
Greene Cananea
Hancock Consolidated
Helvetia Copper
Indiana Mining
Isle Roy ale Copper..
Kerr Lake
Keweenaw Copper
Lake Copper Co
La Salle Copper
Mass Consol
Ty
8% Dec
25
12,496 Utah Consolidated...
46% 5,784 Utah Copper Co
2%
2%
♦2
23.,
21c
2
2
*3
90 Victoria
334
9%
9%
9
9%
9%
9%
9%
83j
S34
1,325 Winona
*125
126
*125
128
125
125
125
125
115
120
150 Wolverine
1-12
1%
*1%
1*4
1%
1%
1%
1%
1%
510 Wyandot
1%
aspect prices,
i New stock,
e Ass’t paid,
b Ex-stock dlv. 11
Ex-rights, a Ex-div.
473ft
JTy 27
111
2o
5,000 Ray Consol Copper..
350 Santa Fe Gold & Cop.
2,768 Shannon
540 South Utah M & S
3,526 Superior
2,653 Superior* Boston Min
4,385 Superior*Pitts Copp.
10 Tamarack
944
46%
2%
36
Mining
Mexico Cons M & S
310 Miami Copper
105 Michigan
232 Mohawk
fi
33%
J
46-% JTy ■
25% JTy 9
013S JTy 26
8,536 Nevada Consolidated.
420 New Arcadian Copper 25
1,530 Nlpisslng Mines
5
31
17,152 North Butte
15
634 1,249 North Lake
25
6
210 Ojibway Mining
25
.60
09
Jan 24
28
Mch 3o
27
Jan 18
Jan
15
165%
100
25
116
Mcll 18
Jan
7
Nov 1
106
11% Jau 15
25
Centennial
44%
Nov
Nov
Feb
90%
Mch
97%
204% Jan 3 *172%
103% Jan 3
93%
: 00
Jau
/il53
146
Augl8
98% Aui' 2
153% JTy 26
89% J’ly 26
100
100
Anaconda
162% Alch 14
14l% Aug 25
Mch
Nov
Jan
Feb
77% Nov
14% Mch
65% Oct
11% Jan
68% Jan
212
153
25
Arizona Commercial- 25
350 Atlantic
25
600 Bonanza Dev Co
10
1,390 Bos&CorbCop&SilMg
5
2,530 Butte-Balaklava Cop. 10
2,090 Butte Coalition
15
545 Calumet & Arizona.. 10
23 Calumet & Heel a
25
3
Oct 27
Oct 14
Oct 19
Maylo
181% Sep 14
25
Alny o
214% Jan 4
234 Jan 3
107
Sep 22
99% Aug 3
129% Aug 17
93% Nov 25
Telep & Teleg__10G
,
Mch 16
J'ne
235
153
301
22
Dec
5% Jan
24
Feb 11
Jan
13
111
Oct 3 127% Mch 2 jll4
Nov
111% Oct 3 124 Mch 2 2117 Nov
127% JTy 26 14378 Nov 4
125% Feb
26
J’ly 7
39% Mch 19
27% Feb
91
JTy l 104% Mch 23
93% Jan
7
Mch 18
4U Apr
11% Jan 7
16
Maylo
28
Jan
0
15% Apr
4% JTy 28
8% Jan 11
3% /ipr
138% JTy 28 1521" Mch 3
125
oun
7% Apr 14
11% Jan 3
7
Jan
/(239 Jan 26 292% Nov 16
245
Jan
135
JTy 26 160% Jan 6
150% Feb
76% Feb 8
91% Nov 16
59
Jau
89
May 16
97
Mch 18
89
Jan
Pacific Coast Power.. 100
Pullman Co
100
50 Reece Button-Hole.. 10
535 Swift & Co
100
690 Adventure Con
239% Apr
135
Deo
Jan
4619
143
115
267
12819
75
79
195
Jan
Jan
106
22% NOV16
88 34 N OV17
98-% Mch3.
4% Aug 2
14
JTy 15
100
100
100
pref
2
1
15Oct 15
83
Sep 26
*268
140 West
Do
85
157% Dec
90
210
103
Mexican Telephone.. 10
40 N E Cotton Yarn
Do
20
pref
148 N E Telephone
J’ly
i
3
11>>
270
133i 323 “
Apr 28
139% Mchll
Miscellaneous
4
39%
125 "
13%
Feb 10
JTy 26
Apr
Jan
125% Oct
10034 Jan
225
124% Jan
223% Dec
132% Jan
295
Sep
1134 Jau
60% Jan
10
May
10% Sep 30
48
Highest
Jan
98
16% Novl8
76
Apr
14%
50
50
1,783 Amer Sugar Refin....100
Do
719
pref
..100
5,582 Amer Telep & Teleg..l00
135 American VV'ooien____l00
Do
1,207
pref
100
35 Atl Gulf & W I S S L.100
Do
470
pref
100
Boston Land
10
Cumb Telep & Teleg.100
100 East Boston Land..
257 Edison E>ec Ilium
100
1,410 General Electric
100
2,627 MassachusettsGasCos 100
Do
480
pref
100
Mergenthaler Lino
100
J ’ne le
202
75
149
Mass.. ..100
552 Amer Agricul Chem.,100
Do
321
pref
100
495 Amer Pneu Service
50
Do
330
pref
50
_
Jan
3
7
Jan 10
Jan 5
Feb 24
Feb :
Nov 3
227
152
3 0
Nov21
Oct
...
100
425 West End St
Do
130
pref
13G34
JTy 21
Meh 23
Aug 29
Sep 16
Oct 3
Oct 13
124% Sep 21
100
19%
41
4%
1234
&
Aug
JTy 27
210
1034
11
1%
4134
Pacific
pref
234
104
85
Lowest
123% Jan
104% Jan
J’neio
_
200
121
285
14
70
8
35
139
109
260
9% 1.790 Algomah Mining
25
40
1,010 Allouez
25
65
17,240 Amalgamated Copper 100
2634 3,350 Am Zinc Lead & Sra.. 25
2534
*191o
& Lowell
1O0
& Maine
100
A Providence. 100
Suburban El Cos.
320 Torrlngton
Do
25
pref
833 United Fruit
171
*3%
19%
4%
10%
31
7
7
*.50
.60
*.60
.60
*
40
40
40
*
125
129
127
*12
*12
13
71c
*
*19%
4
47
20
Elevated
”*8 Vermont
19
1734
1734
52
52
51
52
545
545
*545
560
16
16
15
15
380
Last Sale .05
Nov’10
68% 68% *67
67
1*306
*31o
4
33,.
*3%
10
11
11% 11%
11% 9,681
Last Sale .15
Nov’10
10
9% 10
10
*950
7
7
6%
2,710
39
40
37
40
630
7
6%
7%. 2.791
21
22
21
211c
1,625
0
2
134
240
134
11
13
12
11%
1,672
18
*17
18%
18
1,975
a:634
6%
7
6%
820
3
3%
•3%
3
1,155
32% 34
33
34% 5,502
7%
7%
71o
73s
887
8
81c
8
81c 2,819
Last Sale .50
Nov’10
4
2134
134
61c
.50
218
10C xl 22
1,216 Un Shoe Mach Corp__ 25
Do
461
29%
pref
25
7478 39,531 U S Steel Corp
100
Do
116
376
pref
«
100
6%
8%
38%
9%
.50
13%
*5%
17%
1,931 Union
Do
.
7
834
40%
6334
27%
6%
19
54
550
550
16
16
*.05
.07
40
7
.50
.501 *.50
.60
40
401c *_.
40
129
129
128
129
12% 14
13
13
75
*74%
76
20
203,
1934 20
*1%
12%
1%
12
102
31
28
193
55
*90
671c
*.40
33
7
163%
91%
2734
.60
19%
*4%
1034
Nov’10
*90
42
35lc
71"
9
.00
*47
138%
19
7
15178
89%
93%
112
110
*17%
7%
10%
G934
*3%
20%
Nov’10
Nov’10
7234
11538
17%
03
1978
*4%
1Q34
32%
126
35
8
9
*.40
7338 75%
116% 11634
52%
738
43
7
738
3%
35H
4%
1034
35%
7%
7>>;
49%
2%
9%
.
3%
48
3
24
22%
2
20%
35%
4634
121?
.20
101c
1334
18%
20
534
16
.OS
70
4
7%
O
48
62
555
12%
£
9
*.40
19
54%
*.14
101c
1434
20%
14%
534
*42
7
7%
4
48
8‘
15%
51 •>
19
54U
*3%
24
4%
21%
1%
13%
1%
15%
16
7%
7%
22%
14%
*6
*.50
14
5
19
7
.55
*.05
70
44
93%
43
16%
555
;
7%
2
*.50
.60
*41
42%
*129
130
*13
14
76
76
13
70%
42
*.40
21%
1%
.08
45
1434
1934
73s
3%
7°8
17%
1234
*134
1434
*19%
738
3%
7%
17%
*.05
11
24%
*35
1934
Ii
.20
7%
20%
4%
1034
570
28
196
56
29
7*2
9%
41%
653s
27%
28
16%
551573
32
Last Sale 226
Last Sale 5
112
112
112
110
110
*109
138
138
138
Last Sale 93%
1631c 1631c 163
1234 ,1234
12
101% 103% 101
*30
31
31
27
27
*27
193
194% 193
55
55
55%
29
2834 29
110
28
195
55
29
6734
*6
*.50
16
6
11%
7%
*43%
7%
24%
*20
*4
48
7
.50
3U
12
*.14
*11
3638
8%
934
16%
7
.50
1534
534
1834
580
*17% lSl*.05
.08
72
72
*334
16%
140%
32
93
93%
153% 155 xl50%
89% 8934
89%
9378 94
93%
2812 281o
763s 7?34 ar7438 7612
11718 118 *11634 II7I4
*17% 19
*1712 19
*90l2 92
90l2 901'
19
91
114
114
20%
153%
...
29
14
Last Sale 6
Nov’10
Last Sale 145
Nov’10
*8
9
*8%
8%
281
281
280
281
...
19612 197
*56
5614
2834 2S34
79% 79%
11818 1185g
*1712 19
47s
113%
139%
2012
13734 13734 138 138
*93
*9312
*9312
*164l2 16512 1*162 164
162l4 163
16312 164
1212 1212 *1212 135gf *12% 13%
*1234 135?
104
104
10312 103% 10312 103% 10314 IO334
*31
31
31%
3H2 *30
31
*30
31
*27
4234
100
14
1131c
113% 114
114
114%
140
140%
7
15714 159
8934 9012
1091
138
14
Albany___.100
Range for Previous Yeat
(1909)
Highest
91% JTy 26
97% Aug 2
589 N Y N H & Hartford. 100
Northern N 14
100
Norwich & Wor pret.100
38 Old Colony
100
50 Rutland pref
100
25 Seattle Electric
..100
33
Do pref
100
89%
102%
42%
9934
4%
478
14
15512 15712 1541*2 156
8934 90
8912 90
94
94
9312 93%
9378 94
228
*22312 226 *22312 226 *224 226
*5
5*2
*5
512
*5
5l2
112
110
1101^ *110l2 112 *11012 112512
110
*225
*5
*110
4334
478
171%
Nov’10
157
102%
100
&
r
*6
152%
281
102% 102%
100
..100
pref
_
18%
168%
....
11412
1403g 141U
*33
34%
93% 93%
2012
7
*814
282
93%
12834
118
Nov’10
Nov’10
18%
169% 172%
43%
100%
478
*14
11534 117 *114
115% 116% xll4
35
9312
4312
14
85
....
100
5
14
1403s 1423g
20
7
282
160
*47s
19
85
157%
114
Oct’lO
Last Sale 92
*157
157
89
90%
8984 90
*157
90
90%
*4312 4414
100l8 10012
5
14%
11578 11712
11734 118
189
34
107
102
105% *10412 10512 *102% 105
*43%
10H2
*1834
Do
Do
pref
Boston & Wore Elec Cos.
Do
‘i 66
pref
10 Chic June Ry & USY.100
Do
21
pref
100
Connecticut River
100
170 Fitchburg, pref
100
Ga Ry &
2
Electric____100
Do
pref
100
Maine Centra)..
100
805 Mass Electric Cos___.100
Do
414
pref
100
40
12334
Lowest
15
84
85
152
152% 15212 151
Last Sale 140
Nov’10
Last Sale 210
June’10
186
186
*185
186
*36
38
36
36
106
106
105% 105%
102
*....
102
1763g z17134 17212
93
*92% 93
*157
90
9012
216
1221
Nov* 10
Nov’10
72
Oct’lO
*
117
117
Last Sale 88
Lost Sale 210
Range Since Jan. 1
Railroads
Atch Top & Santa Fe.
Boston
309 Boston
33 Boston
80 Boston
Boston
Boston
221
127%
157%
*12834 131
141
*187
34
10714 107
10212 *....
22034
127%
...
10
189
40
145
“95
*15712 160
S6%
152% 15212
*139
1003s 100%
220% 22034
12734 128
*113
114
Last Sale 260
86
141
18634 187 *187
39% *.._.
40
*36
no?
10712 10714
102% 1021c *
17734 177% 175
1 7634
17514
*92
93% *92
93
*92
*157
90
105
*1834
...
15212 153
108
102
*4%
*
*209%
...
189
*44
101
16
72
10
41
160
113
*
275
*130
131
*117
118
*871* 88
131
118
88
...
152*2 15312
141
*157
90* 2
*104
..
__
88
86
STOCKS
BOSTON STOCK
EXCHANGE
Shares
Dec
216
216
216
124
124
122
Last Sale 300
Last Sale 15
*70
*70
72
Last Sale 10%
*39
41
*39
124% 12412
*295
1612 *15
72
*70
s
10
40
*39
160
*157
114
113
Friday
100
100%
Last Sale 101% Nov’10
*215
...
*
131
118
*87l4
*209%
19%
15312
*187
*33
*107
102
Y6%
102i8
10134
22034
12778
_
~20%
87
153
*139
123
72
10
*39*2 40
*158
160
*113
115
115
270
132
118
8S
*
*215
*124
*295
*15
72
-
*157% 1G0
Sales
the
Week
of
Monday
Dec
54
5134 Dec
Jan
Mav
Dec
18
.80
24
11% Dec
33% Nov
Jan
Aug
119
695
44% Sep
Jau
.35
86% Nov
12
Mch
16% Apr
2% Jau
19
Aug
12% Nov
110% Dec
14% Nov
38
Dec
7% Aug
"*33*% Feb*
938
f7%
74%
19%
18%
1
6
Aug
Dec
Dec
Dec
May
Deo
Nov
28% Deo
13% Mch
70% Jan
30
Nov
838 Deo
13
Sep
85% Jan
11% Aug
14% Dec
90
59
170
Dec
Aug
Dec
36% J’ne
99
Jan
2% Jan
177* Jan
67
Deo
18% May
18% J’ljr
90
Feb
17% Jan
39% Nov
59
Sep
54
Oct
634 Jan
4984 Nov
66
6
Nov
Deo
<T3% Deo
Aug
168
4
Jan
Deg. 3
1503
Boston Bond Record
101U.I
3
1*0 A O.**
*
BOSTON STOCK UXOB’dlL
Wkkk kndind Deo 2
ii
trice
Weetc*
FYidav
Deo 2
Range or
s
©
High Ho Iatw
10234 16; 100 4
9034 108! 89
90°s
Bo^ Sale
104
994
1034 104 i 104 '
87 34 Sep ’ 10
874
119
10
97
Nov
114
kmAgriculChem 1st 5s..1928a-0
km Teiee <fc Te» ooli ir 48.1929 j . j
Convertible 4b
1936 M-S
km Writ Paver 1st s 16s « 1919 J. j
km Zinc LA 8 deb 6s.... 1915 M-N
kria Com Cop 1st eonv 6s 192o J-D
kt cn Ton A 8 ife gen g 4s.. 1995 A-O
Adjustment g 4s
J’ly 1995 Nov
102 4
102 S* Salt-
92
M-N
J -D
J-D
98
984
90
90
91
91
26
119
94
1014
94**
73
63
103
103
1134114
113 4 May'10
87
87
87
874
1084 1174
1004 Mar’09
104 4 Oct ’08
112 4 Jan ’03
103
Feb’10
100
J’ne’01
...
934
lort
92 4 944
102 4 102 4
74
88
85
11103 Oct ’07
98 4
98 4
1014 1014
99 4 100
99
994
984 J’ne’10
101*4 Mar’10
99 4
99
99
87 4
994100
Nov’10
Mar’10
Oct ’09
1014
103
126
99
101
91
112 4
Feb '05
Oct’10
Nov’10
Deo’07
1004
99
101
100
Jan'03
1004 Aug’09
99
89
90
93
86
96
Anr’IC
88
Unstamped 1st 6s
1933 A-O
at Nor U B A (J coil tr 4s 1921 J-J
ile^i8tered4s
1921 (J-J
95 4
11
964 J’ne’10
103 4 Apt '05
96
954
90
984
Wee/Cs
Range or
ask Low
1014 Sep ’05
115
J’ne'08
Monday
Nov 28
Saturday
Nov 26
Nov 29
Nov 80
Dec 1
Sales
ACTIVE STOCKS
the
Bonds and Inactive
| Week (ForStocks
sec below)
j'Shares
Friday
Dee 2
126
........
«
******
••••*
16
*126
*404
16
♦
90
*126
*19
Oil L
*
43
1
16
90
127
127
1264
*126
126
*
90
90
♦.TT-TT
15
*144
144
144
42
90
1264
20
*404 42
14S 16
144
1334 134
75
Oct ’10
l014Nov’10
1334
1334
43
•434
*42 4
*114
49 4
114
494
*114
32
324
784
314
784
274
*96 4
92
274
974
94V
654
45
45
164
184
764
164
764
4
84
8
434
86
19
44
86
43
48
43
43 4
114
424 424
43
434
*114 nv
484
48
49
224
774 774
314 314
114' *114
474! 47
114
474
32
764
*84
264
77
9
274
32 4
33
32
77
77
78
77
77
27
27*4
27
274
*27*4
94
914
27
94
89 4
934
94
90
64 4
444
164
la4
744
8V
65 4
45
644
444
644
944 95
894 914
61464i*ie
4b
44 4
164
154
184
43
444
864
86
Bid
A sk
103
Apr'09
984 Sep'09
1134 Aug’10
Mar’lu1
99
103 4 Sep ’10!
103 4
95
107 4 AoV05
102
Mai’021
784 Apr’IOl
103 4 Nov’1 ol
97
Nov’lOj
97
97
Indiana Union Tr....l00
insurance Co of N A..10
Inter Sm Pow A Cheiu.50
Keystone Telephone ..50
84
44
85 7e
154
434
844
184
74
84
434
85
PHILADELPHIA
45
20
204
.....
84
Bethle Steel 6s 1998.Q-F
Choc A Me 1st 5s 1949 J-J
Ch Ok A G gen 5s ’19 J -J
C'ol St Ry 1st con 5s 1932
ConTraoofNJ 1st 5s.’33
E A A 1st M 5s 1920 M-N
Elec A Peo Tr stk tr ctfs
Eq II Gas»L 1st g 5s 1928
Indianapolis Ry 4s. 1933
Interstate 4s 1943 ..F-A
KeystoneWatchCase.100
Lehigh Nav 44s ’14.Q-J
RRs 4s g.:...1914.<4-F
Gen M 44s g.l924.U-F
Leh V C 1st 6s g ’33..J-J
Leh Vail Tran v t C...50
Preferred v t o
60
Lit Brothers
10
Little Schuylkill
60
Minehili Ob Schuyl H..50
N Haven Iron Ob Steel.5
Northern Central
50
16
16
174
126
41
Railways General
10
8n8queh Iron Ob Steel..5
10
Tidewater Steel
Preierred
10
Union Tr ot Ind
100
United NJ RKAO..IOO
Unit Trao Pitts pref..50
Warwick Iron A Steel. 10
Welsbacli Co
100
West Jersey Ob tteaSh.60
Westmoreland Coal....50
Wilkes Gas Ob Eleo..100
•Bid and
asked;
no
sales
128
97
Preferred
100
Phila Co (Pitts) pref...60
Phil German A Norrts.60
50
Leh V ext 4s lst!948. J-D
Consol 6s 1923
J-D
62
i*09*
Phila Traction
6
44
15 4
Pennsylvania..60
Pennsyi RR receipts.
Pennsylvania Salt
50
Pennsylvania feieei.,100
North
Ask
Bid
UO
1044
414
1474 148
83
83 4
914
240
*10*4
40
62
on
*8*34**83^
BergAKBrw lst6s’21 J-J
724
241
424
11
43
63
this day.
Consol 44s 1923...J-D
Annuity 6s
J-D
Gon cous 4s 2003.M-N
Leh V Tran oou 4s’35 J-D
1 st senes B 5s 1935.M-S
New Con Gas 6s 1948 J -D
Newark Pass con 5s 1930
NY Ph A No 1st4s’39 J-J
Income 4s 1939...M-N
NoOhioTrao con5s’19.J-J
Penn Cons 6s L919.. Var
Penn A Md Steel con 6s
Pa A NY Can 5s ’39.A-O
Con 4s 1939
A-O
Penn Steel 1st 6s ’17 M-N
People’s Tr tr certs 4s ’43
P Co IstA coitr 6s’49 M ~
OonA coitr 6s 1951M-N
Phil Eleo gold trust ctfs.
Trust certifs 4s
P A E gen M 6 g ’20.A-O
Gen M 4s g 1920..AAO
M Ex-ri^lita.
H# 15 paid,
794
J 904102
2'131
136
97 4
1134 1164
984 99
*9
10341034
..1103
784
1044
..'Ii! 88
no
..II 784
II'-ii)04 1004
1003, Mar’ io'
101 4 Nov’10’
1044 Oct ’10
97 4j
97 4 97 4
165
Nov 10'
1034
10341
984 J’ly ’io
..'i 9941014
..11044 1094
95 4 97 4
145
166
1 1014 1054
..; 97
98 4
2
..
984 Apr’IOi... ■
98
Oct'lO ...J
9841
98
984 *ialt
944 Jan 'io
7,
.
..J
98*2
97
94 4
994
94*4
944
99
99
1j Flat price.
Weekly, Yearly
Range Sines
Range for Previous
Jan l
Year(1909)
Lowest
Highest
17 4 Sep 19
414 J’iyai
404 J’ly 26
114 J’ly 29
42
J’neao
194 J’ly 20
64
J’ly 26
28
50
Jan
3
6
1084
1034
Bid
PHILADELPHIA
Ph A Read 2d 5s "33. A-O
J-D
Con M 7s 1911
Ex Imp M 4s g '47.A-O
Terminal 5s g 1941. (4-F
P W A B coitr 4s’21.J-J
Portland Ry 1st 5s 1930.
Rocll Ry A L con 5s ’54J-J
Spanish-Am Ir 6s ’27 J-J
U Trac Ind gen 5s’19.J -J
Un Rys Tr ctfs 4s’49JAJ
United Rys Inv 1st coll tr
f 5s 1926
M-N
U Trac Pit gen 5s *97 J -J
Weis bach a 15s 1930.J-D
8
106 4
a
•
a
884
1054
89
63
55
*
*•
110
1*1*74
Georgia Sou A Fla... 100
1st pref
100
1044
146
97
WLks-B GAE C0n5s’55J-J
BALTIMORE
Inactive Stocks
Ala Cons CoalA Iron.100
Pref
100
Atlanta A Charlotte.. 100
Atlan Coast L (Conn)lOO
100
Canton Co
Cons Cot Duck Corp...50
50
Preferred
974
ioi
*9*9**
2d pref
100
G-B-S Brewing
100
Bonds
Frices are all" and
interest.”
Anaoostia A Pot 5s
Atl Coast L(Ct)ctfs 5s J-D
Ctfs of indebt 4s....J-J
6-20 yr 4s 1925
Balt CPass 1st 5s ’ll
Balt Fundg 5s.1916
108
914
92 4
102 4
944
95
101
1014
764 764
108
iu04
t ^124 paid.
J-J
99 V
115 I
99 V100
93 4
101
1014
Feb
Feb
Feb
284 Deo
Dec
43
48
94 Jan
144 Jan
96 Jan
67
Feb
63 4 Feb
404 Fee
114 Fob
244 3an
59 4 Feb
54 Jau
604 Jan
844 Mtq
BALTIMORE
City A Sub 1st 5s..’22 J-D
City A Sub(Was)lst6s’48
CoalA 1 Ry 1st 5s’20F-A
Ool AGrnv 1st 6s. 1916 J-J
Consol Gas 6s..1939 J-D
Ctfs indebt 44s
J-J
Cons GE AP 4 vs’35.J-J
FuirA UiTr ist5s ’38-A-O
'40J-J
74
76
794
lst5sg’29J-J
804 Georgia P 1st 6s...’22 J -J
Ga A Ala 1st con os
GaCar AN
‘*884 89**
115
5
16
GaSo A Fla 1st 5s 1945J-J
G-B-S Brew 3-4s 1951M-S
2d income 5s 1951 M-N
Knoxv Trao 1st 6s ’28A-0
LakeR El 1st gu6s’42M-S
MaconRyA Ltlst6s’53J-J
Memphis St 1st 5s’45 J-J
40
232 4
120
6
19
94
96
70
1
75
2
1004 101
102
Metst( Wash)lst6s’25F A
Mt Ver Cot Duck 1st os.
NptNAO P 1st 6s’38 M-N
Nor APorTr lst6s’36J-D
Norfolk St 1st 6s ’44..J-J
North Cent44s 1925 A-O
Series A 6s 1926....J-J
Series B 6s 1926....J-J
Pitt Un 'Trao 6s 1997 .J J
Poto Vai 1st 6s 1941..J-J
Sav Fla A West 6s ’34 A-O
seab A Roan 5s 1926.J-J
South Bound 1st 5s..A-O
U El LAP 1st 44s’29 M-N
Un Ry A El 1st 4s '49 M-S
Income 4s 1949
J-D
1004
Funding 5s 1936...J-D
1044 Va Mid 2d ser 6s ’ll.M-S
3d series 6s 1916..M-S
94
4th ser 3-4-os 1921.M-S
5th series 5s 1926.M-S
*94 4 944
1064 107 4 Va (State) 3s new ’32.J-J
Fund debt 2-3s 1991. J-J
West N O con 6s 1914 J -J
WesVa CAP 1st 6g*ll J-J
Wil A Weld 5s..l935.J-J
100
M-N
Exchange 34s 1930 J*J
104
93
Cent’l Ry oon5sl932 M-N
Ext A Imp 58.1932 M S
Ohaa City Ry lst5s’23 J-J
Chaa Ry G A El 5s ’99 M-S
Dee
Mar 48
May
Mar 89
1214
Deo
Jan
48
Deo
14 4 Deo
Jan
Deo
494 Deo
124 J’ly
634 J’ly
334 Deo
844 Deo
16
Apr
334 May
126 4 Deo
113
sep
754 Sep
514 Deo
144 Deo
364 Apr
864 Sep
7iaie Mar
684 May
95 4 Deo
Bid
Ask
Chari C A A 2d 7s'10 A-O
M-N
Balt A P 1st 6s in 1 ’ll A-O
B S P A C 1st 4 4s ’63F-A
Balt Traolst6s..’29 M-N
No Balt Div 5s 1942 J-D
I Ask
25
I Highest
444 J’ly
534 Jan 10 324 tfeb
12 4 Jan 14 *104 Jan
644 Marll 43 Jan
344 Jan 29 154 Jan
844 Jan 10 63 Jan
Jan
7,610
“ and
60
Preferred
82 4
AmRysconv&s 1911-J-D
Ati City 1st 5s g ’19.M-N
100
Indianapolis St
184
734
84
75
904!
644
444
164
,.!| 75
Apr'071
7
J’ly 6 13 aaniu
Keystone Telephone... 60
Lake Superior Corp.... 100 15 4 J’ne30 284 Jan 3
Jan 7
J’ne3v 123
185 Lehigh 0 Ob Nav tr ctfs. 50 86
*93
944
60 62 4 J’ly 27 1214 Maria
884 904 33,63? Lehigh Valley
634 W5ie 1,668 Pennsylvania RR
50 6iun J’iy 20 693x8Mar 9
J’ne3u 634 Jan 8
411 Pinladelp’aCofPitlsbj. 60 42
44
444
16
154 3,797 Philadelphia Electric ||. 25 1134 Feu 3 164 Marl8
15
Apr 28 28 4 3 an 3
174 184 6,443 Phila Rapid Transit... 50
Febls
5u 65 4 J’ly 26 86
72 4 73Hie 13,590 Reading
64 Jan 2~
9*X0 May 13
850 Tonopah Mining
1
84
84
50 38 Oct 24 524 Jan 3
48
434 3,965 U nion Traction
84 4 85
50 79 J’ly 26 954 Jan 10
4,228 United Gas Impt
Alt ALVEIeo 4 4s’33.F-A
Am Gas & Elec 5s’07.F-A
60
Germantown Pass
444
187ft
b4Y
61 American Railways.... 60
60
1,208 Cambria Steel
17 Electric Co of America 10
Eleo
Storage Battery.. 100
1,197
6,615 Gen Asphalt tr otls ....100
Do
pref tr ctfs ....100
2,46&
ititAresit **
100
Wayne & W V
64»is
44 4
16
Honda
Brices are all
100
Pipe Mfg
Telephone (Pa). 100
Cambria Iron
50
Central Coal A Coke. 100
Consol Trao of N J...100
Easton Con Electric 5.50
Ft
114
474
77
inactive Stoclta
Amai Asbestos Corp.100
Preferred
100
American Milling
10
Amer
43
32 4
154
184
184
74 4 74*73i81#
84 1
8»i«
84
434
434 434 *
85
864
41 86 4
434
43
434
114
484
90
154
184
764
*43
43
424
434
96
264
25
*414
♦
50
American Cement
*244
424
27
96
PililjADEkjPUlA
Beil
424
434
114
474
100
994
97
101
Lowest
Philadelphia
43
41
;;n
■
..
i004Sep’08l
Baltimore
I
30 Con. Gas EL L. Ob Pow.100 46
Mar21! 644 Deo 2 30
25!
Do
pref
100 80 Marll 90 J’ly 14 76
145 Northern Central
50115 Jan 8 132 Feb28 100
Seaboard (new)
100; 184 J’ly 29 27 4 Jan 3 114
Do
2d pref
100 40 Oct 17 47 Jan 8 224
94
600 United Ry A Electric.. 50 l24May 3 15 4J’lyl5j
644
634
*64
1
12
97
Aug'10 ....t 97
.024 Aug’04 ...J
6 100 4 105
I014i
101
102
Feb’Oyf
i’004 ioi*
of
Thursday
:::::
....
99
99
all Boston Bonds. * No price Friday; latest bid and asked.
Per Centum Prices
Wednesday
1J
I....I
Sale
Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily,
Tuesday
93 4 1*7
99 4 994
118
113
92 4 934
90
92
102
103
9641
Note—Buyer pays accrued interest In addition to the purchase price for
share Price*—Not
90
1014 103
high
99 4101
2,
Oct ’ 10
90
99
Low
Ho
Riga
1004
117
Apr’08
934 Mai’10
994 Feb’10
1164
1164
93
Since
January 1
SQ-O
1004
93 4
Range
£* -4
Last Bade
100
1917 F-A
Western Teleph Ob Tel 58.1932 J-J
Wisconsin Cent 1st gen 4sl949 J-J
97 4
16: 944
944
'S c
RT1 Cf
Friday
Dec "j
1916 M-N
Gold de Denture 4s
Gold 48
Apr'08
133
Mar’09
140
Apr’05
954
954
96 4 Nov’10
Salt
99
99
88
96 4
£
1 ^4
e
Oreg Ry A Nav con g4s..1946 J-D
Oreg Sh Line 1st g 6s
1922; F-A
Pere Marquette deb g 6s.. 1912; J - J
Repub Valley 1st s f 6s...l919j J- J
Rutland 1st con gen 4 48.1941
Rutland-Canadian 1st 481949 J-J
Savannah Elec 1st cons 58.1952 J-J
Seattle Elec 1st g 5s
1930 F-A
Shannon.A riz 1st g6s
11*19 M-N
Terre Haute Eleo g os....1929 J-J
Torrington 1st g 5s
1918 MUmou Pac RR A 1 grg4a.l9^7 J-J
20-year conv 4s
1927 J-J
United Fruit gen s 14 4a. 1923. J-J
U S Coal Ob Oil 1st s i 68.. 1938 M-N
U S Steel Corp 10-60 yr 5s. 1963!M-N
West End Street Ry 4s
1915jF-A
Sep ’10 ....it 864 £84
6 100
1014
10141014 1014 lol
994
9934
934 14|| 89
114
114
114
1154
99
101
Deo 2
3.2
Illinois Steel deben 6s....1913 A-O
la Falls A Sioux Cist 7s.. 1917 A-O
Kan C Clin A Spr 1st 58... 1925 A O
KanC Ft S«feGull ext5a.. 1911 J-D
Kan O Ft Scott Ob M 6s....1928 M-N
KanCM A B gen4s
1934 M-S
Assented income 5s
1934 M- S
Kan O Ob M Ry A Br 1st 5sl929 A-O
Maine Cent cons 1st 7s...1912 A-O
1912 A-O
Cons 1st 4s
Maro Hough A Ont 1st 68.1925 A-O
Mass Gas 44s
1929, J - J
Micli Teieplst 5s
1917; J- J
Mlnne Geu Elec con g 6s 1929 J-J
New Eng Cot Earn 5s....1929 F-A
New Eng Teleph 5s
1915 A-O
6s
1916 A-O
New England cons g 6s... 1945; J- J
Boston Term 1st 4s.....1939, A-O
New River (The) conv oa. 1934 J-J
N Y N H A H con deb 3 4sl966| J - J
Conv deb 6s (ctfs)
1949 J-J
Old Colony gold 4s
1924’ F-A
103
884
BXOH’OK
Bia
High,
Feb’04
110
Boston A Lowell 48
Boston ob Maine 4‘os
1944 J-J
Boston Terminal 1st 3 *38.1947 F-A
Bur Ob Mo Kiy cons 6s
.1918 J-J
Butte 6b Boston 1st 6s....1917 A-O
Butte Elec A Pow 1st g 6s. 1951 J-D
Jedar Rap Ob Mo R 1st 78.1916 M-N
Dent Vermt 1st g4s..Mayl920 (J-F
0 B A *4 Iowa Div 1st 68.1919 A-O
Iowa Div 1st 4s
1919 A-O
Debenture 5s
1913 M-N
Denver Exten4s
1922 F-A
Nebraska Exteu 4s
1927 M-N
BA 8 W 8 1 48
1921 M-8
Illinois Div 3 4s
1949 J-J
□die jo Ry Ob StK. Yus 6s .1915 J-J
Coil trust r el muling g 481940 A-O
Jh Mil A St P Dub D 6s.. 1920 J-J
Jh M Ota St P Wl8 V div 681920 J-J
Jhictfc No Mien 1st gu 5s.l93i M-N
Jhic Ob W Mich gen 6s
1921 J -D
Jon cord Ob Mont cons 4s..1920 J -D
Jonn Ob Pass R 1st g 4s...1913 A-O
Sudaliy Pack (The) 1st g 5s 1924 M-N
jurreni River 1st 5s
1926 A-O
Del Gr Rap A W 1st 4s... 1946 A-O
Dominion Coal 1st s t 6s..1940 M-N
Filonburg 4s
1915 M-S
4s
1927 M-8
Promt Elk A Mo V 1st Os..1933 A-O
89
98
92
984
984
90 4Nov’10
924 Sep 10
102 4 J’ly *10
10 b 4 Nov’10
67 4
684
67 4 Bale
j-J
M-8
1916 J-J
BOSTON STOCK
Week ending
Qa',Q \January l
Last sale
a sk Low
Btc;
Stamped
J’ly 1995
60-year cony 4s
1956
10-year cony 68
1917
htl Gull AW1SS Lines 5s.’69
Boston Elect L consol 68.1924
Range
Since
95
106
1014
1004 1014
1074 1084
834
96 4
84
07
1034 1044
105
112
106
42 4
6
102 4
109
95
97
73
924
82 4
1034
lu4
109
1U6
115
1064
43
6
104
no
97
98
*78*^
83
L04
105
105
107 4 108
02
92 H
844 84 4
6L
61 Si
844 84 H
100
106
•••*?«
106
106
87
88
87
88
105
107
1004 100H
112
110
96
*)H34paid. 4$35paid. a Receipts,
b J25 paid, c $30 paid, d $42 4 paid.
1504
THE CHRONICLE
Volume of Business at Stock Exchanges
transactions
Electric Companies
Bid
Chicago Kelson Co—See Ch cago
Gr’t West Pow 5s 1946..J-J
8712
e Kings Co El L & P
Co. 100 122
Narragan (Prov) El Co.. 50 *89
at me NEW YOitii stock
exchange
n AILX, WHEKLA A
YEARLY.
Stocks.
Week ending
Dec. 2 1910.
Shares.
Saturday
Monday
Tuesday....
Wednesday
Thursday...
Friday
65,354
799,014
557,318
748,771
857,918
887,844
...
Total...
Sales at
New York Slock
<&c..
Bonds.
.
U. S.
Bonds.
$731,000
1,943,000
1,584,000
1.658.500
1.729.500
1.598.500
$30,500
46,000
98.500
76,000
95.500
83,000
$5,000
3.91G.219 §34 o.590,8101
§9,244,5001
§429,500
$5,000
1910.
Stocks—No. shares..
Par value
Bank shares, par
Bonds.
Government bonds.
State bonds...
Ril. and mlsc. bonds
Stale
Bonds.
55.855.400
71.781.400
47,405,800
65,604,600
77,603,300
78,339,350
Week ending Dec. 2.
Exchange.
1910.
1909
3,916,219
4,895,188
157,080,636
199,312,388
3346,599,859 §i35,676,600 $14,021,402,825 $18,240,053,350
$19,300
$500
$1,076,600
$178,950
§9,000
687,009
$359,200
39,892,550
545,7/8,200
23,519,000
Ask
list
89
124
90
50
78
85
77
40
73
80
75
40l2
4U4
66l2
05
Telegraph
and Telephone
Amer Teleg & Cable
10C
Central & So Amer
100
Conun'l Ua Tel (N Y9-- .25
Emoire A Bay State Tel. 100
Franklin
.100
e Gold & Stock
Teleg... 100
e Northwestern
Teleg....50
Pacific & Atlantic
25
e Pac Telep &
Teleg pref 100
Southern A Atlantic
25
e
e
Jan. 1 to Dec. 2.
1909.
$5,000
42*4,500
9,244,500
N Y & Q El L & Pow Co.100
Preferred
100
United Electric of N J... 100
1st g 4s 1949.
J-D
Western Power com.... 10C
Preferred
10C
Railroad,
Par value.
(
[VOL.
$761,700
35,427,900
1,182,766,600
_
.
78
117
105
65
40
110
112
60
90
90
85
120
50
118
99
100
Ferry Companies
B <fc N Y 1st 03 1911
J-J
N Y A E R Ferry stk
100
1st 5s 1922
....M-N
N Y A Hob 5s May *46. J-D
Hob Fy 1st 5s 1946..M-N
N Y A N J 53 1946
J-J
10th A 23d Sts Ferry
100
1st mtge 5s 1919
J-D
e Union Ferry stock.__.100
e 1st 5s 1920
M-N
03
20
55
97
103
95
30
97
28
65
„
„
107
LXXXXI.
Lid
Ask
Industrial and Misccl
e
Crucible isteei
e Preferred
100
100
Davis-Daly Copper Co—10
*
13
131»
7834
l9lfl
887S
7934
134
Diamond Match Co—100
817S
duPont (E I) de Nem Po 100 146
149
e Preferred
100
83
85
e Gold 4 Ms
1936
J-D
83
85
Electric Boat
100
612 12
Preferred
100
53
Empire Steel
100
10
15
Preferred
100
55
62
e General Chemical
100
94
100
e Preferred
100
101
103*2
Goldfield Con Mines—See S tk Ex list
Gold Hill Copper
1
*516
®16
Greene-Cananea
20
*678
71«
Guggenheim Explor’n.-lOO 187
195
« Hackensack Water Co—
Ref g 4s ’52 op 1912 ..J-J
85
86
Hall Signal Co com
20
100
35
Havana Tobacco Co
4
100
6
Preferred
100
8
12
1st g 5s June 1 1922 .J-D
55
59
c
Hecker-Jones-Jeweil Milling
1st 6s
1922
Herring-Hall-Mar
M-S
100
new..
Hoboken Land A Imp..
1st 6s Nov 1930
Houston Oil.
Preferred
Hudson Realty
100
103
35
-
-
-
105
40
-
mm.
100
S
784
100
48
49
$9,679,000 §24,265,000
65
$5S6,029,950 $1,218,956,200
100 110
27
e Ingersoli-Rand com... 100
93
DAILY TRANSACTIONS AT THE BOSTON AND
PHILADELPHIA
96
e Preferred
100 100
EXCHANGES.
Intercontinental Rubber 100
27
27*?
Short-Term Notes
Internat’l Banking Co. .100
90
s987g
Am Cig ser A 4s 1911..M-S
Boston.
9984 100
Internat’i Mer Mar—See S tk Ex list
Philadelphia.
Ser B 4a Mch 15 '12..M-S
Week ending
981g 98l2 International Nickel
100 140
150
Balt A Ohio 4 Ms 1913.J-D
Dec. 2 1910.
Listed
Unlisted
Bond
Listed
991« 99*8
Preferred
Unlisted
90
100
Bond
921s
Bethleh Steel 6s 1914..M-N
shares.
90U
shares.
sales.
l3t g 5s 1932.
shares.
9712
shares.
93
A-O
95
sales.
Chic A Alton 5s 1913..M-S
98>4 99
International Salt
100
s 4Vl
Cln Ham A D 4s 1913...J-J
98
Saturday
4,578
6,083
971?
1st
§45,000
s
14,745
g
1951..
A-O
47
6s
52
1,231
§89,000 CCC A St L 5s, June
1911..
Monday
31,721
20,401
100lg 10012 International Silver....IOC
54,000
£0
18,672
80
21,227
103,600 Hudson Companies—
Tuesday
16,853
9,212
Preferred
98,500
13,059
100
107
113
17,773
41,300
6s Oct 15 1911
A-O
27,252
Wednesday
16,270
99I4 100
1st 6s 1948
95,090
16,468
J-D
110
112
19,035
130,300
6s Feb 1 1913
F-A
Thursday
9314
41,352
Internal
14,476
28,000
9fc«4
Smelt
A
13,791
140
20,921
Refg.. 100 130
59.400 Interb R T g 6s 1911..M-N
Friday
31,397
1003s
17,373
Intemat
1003}
Time
20,000
Recurd..100
ISO
14,359
1,7,049
206
103,600 K C Ry A Lt 63 '12
M-S
9812 9914
Preferred
too
110
115
Minn A St L g 5s 1911. .F-A
991-* 100
153,153
83,815
Jones A Laughlin Steel Co
S340.500
91,094
97,236
S532,200 e N Y C Lines Eq 5s 'll-’22
1st s f g 5s 1939
M-N
10114
4H3 Jan 1911-1985
&4»s% 4U% e Lackawanna Steel.
06
100
40
N Y N H A H 5s '11-’12._
100
101
e lBt con 5s 1950
M-S
85
St L A S F 4H3 *12 op.F-A
e Deb 5s 1915
973.1 98
M-S
9U.i
91*4
5s Mch 1 1913.:
M-S
A!A bond prices are now “and interest’ eircept where
96*4 971“ Lanston Monotype
100
87*2 90
marked ’ f.’
South Ry g 5s 1913
F-A
9S3g 9834 Lawyera’ Mtge Co
100 243
248
Tidewater 63, 1913, guar
101
10U2 Leh A Wllkes-B Coal
50 £30
£75
Wabash 4 Ms 1913
Bid
M-N
Street Railways
Ask
9 712
e Lorillard (P) pref
Street Railways
Bid
100 135
145
Ask
West
New York City
Telep A T 5s '12.F-A
Pub cJerv Corp N J (con)—
9912 100
Madison Sq Garden
35
100
45
Bleeck St & Ful Fy stk.100
12
Westlngh’se El A M 6s 1918 100
21
New'k Pas Ry 5s '30. .J-J 103
2d 6s 1919
1008g
M-N
85
1st mtge 4s 1950
5S
5%
notes
Oct
1917..A-O
100
J-J
Rapid Tran St Ry.,.. .100 235
Manhattan Transit
*1
20
245
u*
140
B’y & 7th Ave stk
100 120
1st 5.3 1921
.A-O 102
55
May Dept Stores
100
57
2d mtge 5s 1914
98
100
Railroad
J-J
J C Hob A PatersonPreferred
100
1C3
105
Chic Peor A St L—
Con 5s 1943—See Stock Exc list
4s g 1941
M-N
Monongahela R Coal
50
73
74
*712
7*8
Prior lien g 4 Ms ’30.M-S / 85
105
B’way Surface 1st 5s gu 1924 102
So J Gas El A Trac.. .100 128
Preferred
50 *20l4
131
Con mtge g 53 1930
Uent’i Crosstown stock..100
90
J-J /
< Mortgage Bond Co
Gu g 53 1953
50
M-S
97
100 113*2 115’
98
Income 5s. July 1930
1st mtge 6s 1922
85
M-N / 80
/
5
No Hud Co Ry 6s 1914 J-J 103
Nat Bank of Cuba.
100 100
105
<Jen Pk N & E Rlv stock. H)0
Chicago Subway
21
100
4
15
5s 1928.....
.J-J
4p National Surety (old stk)i06 £62 £66
104
Kan
A
Col
Pac 03 1938.F-A 108
75
85
-Christoph’l & 10th St stk 100
110
Ext 53 1924
New stock
/ 191
M-N
95
100
195
Nat Rys of Mexico—See S t Exc list
Col & 9th Ave 53—See Stock Exc list
Pat Ry con 6s 1931. .J-D 113
e NevadaCons’dCopper. Sec StK E X list
116
Northern SecurLies Stubs..
100
Dry Dock E B & B—
2d 6s opt 1914... .A-O
112*2
Min & Sm
Nev-Utah
10 vlBje
99
101
1
Pitts Bess A L E
1st gold 5s 1932
...50 *32
95
100
J-D
35
So Side El (Chic)—Nee Ch icago list
e New Central Coal
50
20
GO
Preferred
50 *70
40
F-A / 30
Scrip 5s 1914
76
N
Y
Air
Syracuse R T 5s 1916 .M-S 100
Brake
6s—See Stock Exc
list
102lo
e Railroad Securities Co—
300
Eighth Avenue stock—100 200
Trent P & H 5s 1943.. .J-D
N Y Biscuit 6s 1911
M-S 100
97
Ill C stk tr ctfs ser A...52
95
100
90
Scrip 6s 1914
-F-A
95
e New York Dock
United Ry3 of St L—
100
£0
35
Seaboard Company—
42d & Gr St F'y stock. .100 200
300
e Preferred
Com vot tr ctfs
65
.100
100
9I4 10
1st preferred
42d St M & St N Ave—100
100
77
e Preferred
80
N Y Mtge A Security
.100
100 £00
210
40*4 41
Com A 2d pref—See Bal t Exc List
1st mtge 6s 1910.
.M-S
N Y Transportation
Gen 4s 1934—See Stock Fixe
*4*20
list
5*2
Seaboard Air Line—
2d Income 6s 1915
J-J
40
60
Unit Rys San Fran—See Stk Exc
NIles-Bem-Pond
com
90
100
list
100
Coll 5s ext May 1911.M-S
Inter-Met—See Stock Exch ange
list
Wash Ry & El Co
99~s
Nipisslng
5
.100
Mines
32
11
*1034
34
West Pac 1st 5s 1933..M-S
Lex Av & Pav F 5s—See Stk Exc
list
92‘4 9234 Ohio Copper Co.
Preferred
10
.100
86
88
*ll2
l»g
Metropol St Ry—See Stk Exc list
e Ontario Silver.
4s 1951...
2
100
.J-D
82
8312
2*4
Industrial and Miscel
Ninth Avenue stock....100 155
180
Otis Elevator coni
40
100
51
Adams Exp g 43 1947..J-D / 90
Second Avenue stock—100
16
10
9112
Preferred
Gas Securities
100
95
97
Ahmeek Mining
1st M 5s '09 ext '10.-M-N
...25 *185
99
190
Pittsburgh Brewing
50 *227g 23*4
Alliance
Realty
100 115
Consol 53 1948
F-A
56
59
120
New York
Preferred
50 *407*
American Book
100
4 Sixth Avenue stock
153
100 115
130
156
Cent Un Gas 5s 1927.. .J-J 10U2
Pittsburgh Coal—See Stock Fixe
list
102lj> American Brass
100 120
60
Sou Boulev 5s 1945
J-J
85
125
Con Gas (N Y)—See Stock Exc
58
Pope Mfg Co com
100
60
list
American Chicle com
100 220
So Fer 1st 5s 1919
A-O
88
92
225
e Mutual Gas
Preferred
100
.100 167
78
173l2
Preferred
100 10U2 104
Third Avenue RR—See Stk Exc
list
New Amsterdam Gas—
Pratt A Whitney pref. .100 10il2 104
Am Graphophone com. .100
5
80
Tarry W P A M 6s 1928.. J 50
1st consol 5s 1948.....J-J
Producers
Oil
144
100
148
101l2 102
Preferred
100
Y'kers St RR 5s 1946 A-O
20
75
85
N Y & E R Gas 1st 5s ’44 J-J
Realty Assoc (Bklyn)
101
100 llo
120
104
Amer Hardware
100 120
28th & 29th Sts 5s '96..A-O fnlO
20
Con3ol 5s 1945
Royal Bak Powd com
100 180
..J-J
98
1j0
100
Am Malting 6s 1914
J-D 100
215
102"
Twenty-third St stock.. 100 190
N Y A Richmond Gas. .100
Preferred
100 105
35
108
50
Amer Press Assoc'n
100
95
Union Ry 1st 5s 1942...F-A 10Q!2 102
100
N Y & Westchester Ltg
Safety Car Heat A Lt
100
134
136
Am St Found new—See S tk Ex list
*
Westchester 1st 5s *43 J-J
65
75
Seneca
Deb g 5s 1954 guar
Mining
25
75
102l2 10312
63 1935
A-O 100i2 102
Nor Un 1st 5s 1927
Singer Mfg Co
M-N
100 340
99
350
101
43
Deb
1923
F-A
69
70
Brooklyn.
e Standard Gas com
South Iron A S com
5
100
.100
8
55
American Surety
50 205
Atlan Avenue RR—
210
e P eferre 1
Preferred
100
10
.100
85
16
American Thread pref....5
*4U
Con 5s g 1931
A-O 101*2 103
Standard
1st 5s 1930
5*4
M-N
Cordage
104
100
Am Tobacco Co com.... 100 403
B B & W E 5s 1933
A-O
102
106
97
1st M g 5s ’31 red
A-G / 16
£0
Amer Typef’ders com... 100
40
42
170
Brooklyn City Stock
10 165
Other Cities.
Adjust M 5s Anr 1 1931.. /
4
3
Preferred
100
98
Con 5s—See Stock Exch ange
list
100
Am Gas & Elec com
Standard Coupler com.. 100
..50 *50
40
52
Deb
g
6s
1939
M-N
97
102
100
98
Bklyn Hgts 1st 5s 1941 A-O
Preferred
Preferred
100 lOo’
..50 *41
43
Amer Writing Paper.... 100
210
31“
Bklyn Queens Co & Sub—
Amer Light A Tract
Standard Milling Co
16
.100 290
100
18
292
Preferred
100
101
« 1st g 5s '41 op 1916 _J-J
100
30
2914
Preferred
Preferred
.100
50
.100 102
54
104
1st s f g 5s ’19red 105.J-J
e 1st con 5s '41 op '16 M-N
97io 99*2 Bay State Gas
S8I4 89
1st 5s 1930
M-N
S3
50
87
h
34 Atl Gif A W I S3 Lines.. 100
Ids
Bklyn Rap Tran—See Stock Exc list
Standard Oil ofN J
Bingh’ton (N Y) Gas Wks
100 612
615
Preferred
100
20L
75
60
Gooey Isl & Bklyn
100
1st g 5s 1938.
Swift A Co—See Boston Stk Exc
.A-O
95
list
100
Col tr g 5s 1959.
J-J
66
1st cons g 4s 1948
83
78
68i“
J-J
1st 5s.
See Chicago S.k Exc
Brooklyn Un Gas—See Stk Exc list
list
Barney A Smith Car.... 100
Con g 4s 1955
80
75
30
Texas Company—See Stock Exc
J-J
Buffalo City Gas stock. .100
5
6
Ijst
Preferred
.100
90
Brk C A N 5s 1939...J-J
100
98
95
e Texas A Pacific Coal.. 100
1st 53 1947—See Stock Exc
95
100
list
Bethl’m Steel Corp—See S tk Ex list
Title Ins Co of N Y
ftings Co El 4s—See Stock Exc list
Cities Service Co.
100 135
.100
60
61
B113S Company com
50 124
130
Preferred
*8
Tonopah
Min
100
(Nevada)
1
78
80
s*2
Preferred
50 118
122
6s 1944
105
A-O 103
Trenton Potteries com.. 100
Con Gas of N J 5s 1936 .J-J
4
8
93
96
Bond A Mtge Guar
100 250
1st 4s 1951—-See Stock Exc list
£60
Preferred new
Consumers’ L H & Pow—
45
100
55
Borden’s Cond Milk
100 121
N W’b’g & Flat 1st ex 4 Ha
124
92
87
Trow
5s
1938
30
J-D
Directory..
100
105
Preferred
100
106
106
108
Steinway 1st 6a 1922—J-J 102
Underwood Typewriter. 100
Denver Gas & Elec.... .100 190
60
62
205
British Col Copper
5
*6
610
Preferred
Gen g 53 1949 op.... M-N
99K 101
100
90
92
Butte Coalition Mining. 15 *17l2 18
Other Cities
Union Typewriter com.. 100
Elizabeth Gas Lt Co
45
49
.100 300
Casein Co of Am com
100
Buffalo Street Ry—
23.1
1st preferred
3l2
Essex A Hudson Gas.. .100 134
100 104
108
136
Preferred
100
50
1st consol 5s 1931
58
F-A 10534 107
2d
Gas & El Bergen Co... .100
103
preferred
100
107
78
80
Casualty Co of Amer
100 125
Deb 6s 1917
135
A-O 104
105
United Bk Note Corp
e Gr Rap 1st 5s 1915
60 *49
52
.F-A
98
101
Celluloid Co.
..100 132
Columbus (O) St Ry----100
100
95
Preferred
*50
50
Hudson Co Gas
52
.100 134
136
Cent
Fireworks
com....
100
6"
Preferred
United Cigar Mfrs
100 101
104
Indiana Lighting Co
100
59*2 6012
.100
33
35
Preferred
100
40
Colum Ry con 6s—See Phi la list
e Preferred
4s 1958 op
100 100
105
.F-A
64
65
Central Foundry
100
Crosst'h 1st 6s 1933..J-D
United
102
Copper
100
434
Indianapolis Gas
11
..50
512
20
Preferred
100
«Conn Ry A Ltg com.100
Preferred
15
10
74
100
1st g 5s 1952
20
.A-O
80
85
Deb6s ’19 redatl05_M-N f
e Preferred
U S Casualty
100
79
81
100 200
Jackson Gas 5s g 1937.. A-O / 88
220
9212 Chesebrough Mfg Co.... 100 700
U S Envelope com
1st & ref 4 Ha—See Stock Exc
list
50
100
e Laclede Gas
.100 104l4 IO5I4 Chino
5 *22i2 225g
Copper Co
Preferred
Grand Rapids Ry pref-,100
82
85
100 110
e Preferred113
.100
85
102
City
Co
61
Investing
100
63
U
S
4 Loulsv St 5s 1930
J-J 105
95
Finishing
100
100
IO5I4 Madison Gas 6s 1926.. A-O 103 103
Preferred
100
101
105
Preferred
106
&
1st
104
100
Lynn
Bos
5s 1924.J-D
106
111
Newark Gas 6s 1944
-Q-J 126
e Ciaflin (H B) com
100 102
106
1st
4 New Orl Rya & Lgt.._100
g
5s
1919
J-J
100
26*4
Newark Consol Gas.... 100
105
25*2
96
98
e 1st preferred
100
93
96
Con g 5s 1929
e Preferred
100
J-J
95
e Con g 5s 1948
100
6712 6734
.J-D 103
104
e2d preferred
100
94
U 8 Steel Corporation—
Gen M g 4 Ms 1935—See 3 tk Ex list
No Hudson L H & Pow
Col A Hock Coal A I pf.100
Col tr s f 5s 1951 opt ’ll
Pub Serv Corp of N J...100 115
116
114
5s 1938
A-O 102
11434
1st g 5s 1917
J-J
45
Col tr s f 5s *51 not opt..
Tr ctfs 2% to 6% perpet
114
Pacific Gas A E, com.. .100
99l2 100
68
11434
69
Col tr 6s Oct 1956
J-J
45
U
S Tit Gu A Indem____100
North Jersey St Ry._100
60
Preferred
100
87
92M
89
Consol Car Heating....100
40*j> 4212 e Utah Copper Co—See Stk Exc list
1st 4s 1948
M-N
73
74
Pat A Pas Gas <fe Elec. .100
80
80
Consol Rubber Tire....100
3
4
Westchester
A
Cons Tract of N J....100
Bronx
72 2 731?.
Title
eCon g 5s 1949
M-S 10012 102i2
Preferred
..100
22
A Mtge Guar
1st 5s 1933
J-D
100 165
170
IO3I4 104U St Joseph Gas 5s 1937. -J-J
90
Debenture 4a 1951..A-O / 40
93i2
41
Westingh’se Air Brake.. 50 *138
West El A Mfg 5s—See Stk Exc
list
•
Worthingt’n Pump pref. 100 104 108
* Per share, b Basts,
e Sells on Stock Exchange, but not very active.
/ Flat price,
s Sale price,
n Nominal,
t New stock, x Ex-div.
v
40
75
29
100
Outside Securities
^..
....
m
_
..
•
....
....
.
....
....
-----
.
"
%
..
_
....
....
-
-
....
.
....
....
—
..
„
Ex-righti
Dec. 3
1505
THE CHRONICLE
1910.]
imiestraeut and llailtcrad
GKOSS
HAlLKOAD
Intelligence.
EARNIinGS.
following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly return!
The first two columns of figures give the gross earnings for the latest week or month, and the last twc
columns the earnings for the period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal year totals of those road3 whose fiscal year does not beg n with July, but covers some othei
The returns of the electric railways are brought together separately on a subsequent page.
period
The
can
be obtained.
Current
Year.
Week or
Month.
ROADS
Previous
Year.
Current
Year.
Previous
Week or
Month.
ROADS.
Year.
$
Ala N O & Tex Pac
N O & Nor EastAla & Vicksburg.
Vicks Shrev & P_
Ala Term & North.
Atch Topeka & S Fe
Atlanta Blrm & Atl
Atlantic Coast Line
g Baltimore & Ohio.
B & O Ch i er :-t
66,000 1,219 551
,191,792
60,000
636 423
33,000
588,014
31,000
545
033
29,000
508,785
26,000
870
33,
17,414
6,153
8,393
September
,879,236
October
9,931,805 9,444,348 36,091 145
999,960
55,y30 1,070 870
60,061
3d wk Nov
,334,509
October
2.557.255 2,503,776 9,021 842
,518,589
October
8,168,817 7,840,698 32,684 ,444
2 8 a. y u y
407, 932
9;>,403
131>, 3 4 0
eptember
995 959
950,551
256,084
October
259,559
31 069
21,062
October
6,687
8,790
October
4,085,314 3,914,354 16,215 892 15 ,573,202
022
16
15.353
4,389
4,750
September
,818,ao«
>u
uk No\
187,0 if 4,020 22
IOs.u&.j
853
593,
663,683
236,890
202,422
September
1st wk Nov
1st wk Nov
1st wk Nov
..
__
.
Bangor & Aroostook
Bellefonte Central_.
Boston
__
& Maine
Bridgeton & Saco R
Bull Kocu & Plttsb.
Buffalo & Susq
•
307.900 6,326 000
363,100
Canadian Nortnern. 6a wk Nov
3d wk N'o\ 2,106,000 1,993,000 44,150 130
Canadian Pacific
258.900 5,140, 651
295,500
Central of Georgia- 3d wk Nov
Central of New jer. September 2,410,. 92 2,228,71a 7,22 7, 399
349,338 1,000, 435
376,619
September
Central Vermont
33, 595
1,490
1,812
Chattanooga South. 1st wk Nov
618,414 13,212, 985
651,209
Ches & Ohio Lines. 3d wk Nov
3d wk Nov
335,804
330,189 6,161, 856
Chicago & Alton
23,849, 678
Chic Purl & Quincy .oeptemuer 3,39,;,209 /,600,7
289,679 5,251, 517
274,208
p Chlo Great West- 3d wk Nov
112,498 2,590, 235
109,634
Chic Ind & Loulsv. 3d wk Nov
Chic Ind * Southern —See New York Cen tral.
Chic MU & St Paul. October
Ch MU & Pug Sd_ October
Chic & North west. .'tepietnber
Chic St P M & Om_ October
Cln Ham & Dayton October
Clev Cln Chic
St L —See New
Colorado Midland__ October
3d wk Nov
Colorado & South
August
Copper Range
October
Cornwall
Cornwall & Leban.. September
October
Cuba Railroad
Delaware <5c Hudson i^ep tern her
Del Lack & West.. October
Denv & Rio Grande 3d wk Nov
__
_.
_.
_.
__
__
__
Denver N W <5c Pac.
Det Tol & Iront Sys
Ann Arbor
Detroit & Mackinac
Dul & Iron Range.
Dul Sou Sh & Atlan
El Paso & Sou West
Erie
Fairchild & Nor E_
Fonda Johns & GIov
1st wk No\
3d wk Nov
3d wk Nov
3d wk Nov
October
3d wk Nov
October _T
October
October
October
Georgia Railroad
October
_
..
_
_.
,1 7U ,600
,870,7k>0
,862,192
,722,059
,018,112
29,037
,268,371
,816,864
,
4,348
,800,961
,430,197
;
.
,
,
York ten tral.
867, 475
758,162
243,962
203,964
375,855 7,086,294 6,756, 238
383,825
140, 479 j
137,508
62,557
66,774
56, 644
60,125
14,020
11,906
113, 738
103,251
38,156
30,403
641, 234
821,883
190,692
156,698
4,867, 835
1,703,2o8 1,618.wife 5,263,884
3,218,296 3,261,250 12,354,823 12,257, 177
473.100 10,289,658 9,891, 829
152,200
432, 831
474,924
20,70.
23,561
660, 065
850,559
30,322
39,285
748, 362
809,779
38,012
42,477
488, 597
484,420
19,646
20,645
922,872 1,280,069 4,516,927 5,484, 405
59,476 1,436,166 1,421, 220
64,150
584,996 2,371,061 2,328, 575
602,817
5,115.689 5,180,085 20,231,648 18,894, 541
7, 503
8,016
1,900
1,884
321, 666
356,166
78,832
71,198
690
1,015,
318,130 1,042,208
316,283
Georgia South & Fla —See Sout hern Rail way.
885,456 18.085,905 18,074,882
910,786
Grand Trunk Syst.. 3d wk Nov
121,166 2,188,572 2,336,793
106,425
Grand Trk \\est. 2d wk Nov
769,678
755,788
42,753
46,378
Det Gr llav & Mil 2d wk Nov
828.290
746,510
57,834
40,217
Canada Atlantic- 2d wk Nov
24,943,156
6,401.109 7,253,966 24,364,061
Great Northern Syst October
491.290
476,017
177,432
Gulf & Ship Island. September
160,657
2,186,401 1,992,264
760,844
770,751
September
Hocking Valley.
October
Illinois Central
5,6 7,669 5,301,602 20,763,629 19,294,070
187,000
177,000 3,815.419 3,462,782
Internat <Se Gt Nor. 3d wk Nov
3,076,620
3,265,181
143,o-t;
162.7..8
a Intcroceanic Mex.. 3d wk No\
84,921 1,292,435 1,328,201
2d wk Nov
65,749
Iowa Central
681,589
891,324
229,382
313,402
Kanawha & Mich.. September
861,S97 3,527,437 3,018,670
951,102
Kansas City South. October
679,153
779,373
K C Mex & Orient. 3d wk Nov
36,500
38,900
October
3,384,100 3,344,380 12,409,081 11,912,704
Lehigh Valley
151,392
173,594
34,866
39,858
Lexington & East.. October
Inc. 260
lnc.62 ,744
October
Long Island
316,364
363,548
110,214
120.03a
Louisiana & Arkan. September
292,254
317.667
105,849
116,171
Loulsv Hend & St L September
3d wk Nov 1.142.255 1,068,745 21.581,867 20.108,907
» Loulsv & Nashv.
52,559
51.184
16.785
15,626
Macon & Blrm’ham October
782 135 3,292,965 3,252,151
Maine Central
October
823,574
148,963
163,085
39,518
42,284
Maryland & Penna. October
a Mexican Railway. 2d wk Nov
138.100 3,082,800 2,845,000
159,700
411,319
774,446
122,973
a Mexico Nor West. October
218,690
...
_.
....
_.
__
_.
__
__
__
__
__
__
_.
__
__
__
__
__
__
S
23017745
22,046,413
35,971,061
17,586,259
2,002,762
1,106,586
10,621,999
10,858,460
1,317,324
484,447
6,305,259
1,298,688
3.876.976
1,985,879
93,415,703
1,246,136
940,040
12,591,374
4,401,377
lu,l2«i,uv>
2,337,542
20,969,571
34,064,6811
16,793,474
1,909,892
1,144,441
9,953,284
10,126,598
1,126,348
450,827
6,053,791
1,203,758
3,538,274
1,548,206
87,913,576
1,128,372
862,940
11,553,005
4.360.977
21,198,295
2,271,721
14,067,027
55,079,207
4,200
y, 549,902
6.846.976 6,166,176
,06 i ,uw. j,9oy,<-*, 12,063,725 11,096,368
49,535
52,148
14,265
15,332
l ,uU9,464
1,435,32,
__
5,716,3 i
1,660,681 1,564,481
_.
J
__
__
Company
.
S
,
__
October
October
October
s
Previous
Year.
Current
Year.
326,381
335,527
229.268
248,034
3,300,513 3,045,354
1,180,907 1,245,307
/
ud *> ,.jo v
6,ol t
714,352
753,157
3,1 ;>4,0*1 t 5,96Z.oh i 15,2 6 9,6 o .
14576084 14773884 56,599,707
Inc. 2,28
Inc. 12 1,400
__
Phlla & Reading.
Coal & Iron Co_.
Total both cos
Rich Fred & Potom
Rio Grande Jiinc
Rio Grande South
Rock Island Lines.
St Jos & Grand Isl.
St Louis & San Fran
Chic & East Ill..
Previous
Year.
23984419
__
_
Curren.
Year.
5,571,071 5,417,411
9,166,923 8,889,031
4,399,008 4,307,470
495,280
505,27
327,011
324,804
2,706,510 2,700,718
2,868,096 2,585,574
294,366
342,741
119,076
117,580
1,634,951 1,601,088
321,384
331,918
984,127
1,093,571
500,823
384,832
October
October
October
October
October
Michigan Central. October
Cleve C C & St L_ October
Peoria & Eastern October
Cincinnati North. October
Pitts & Lake Erie October
October
Rutland
N Y Chic & St L. October
October
Toledo & Ohio C.
Tot all lines above October
N Y Susq & West-. October
Norfolk Southern._ October
Norfolk & Western. October
October
Northern Central.
Northern Pacinc
ep lumber
Pacific Coast Co
September
Septemoer
Pennsylvania Co
d Penn—E of P & E October
d West of P & E_ October
ocumer
Pere Marquette
Phlla Balt & Wash. October
Pitts Pin Ch & bt l._ October
Raleigh & Southp’t October.
NYNH & Hartf..
e N Y C & Hud Riv.
Lake Shore & M S
n Lake E & West
Chic Ind & South
Reading
6,508,261 6,553,305 24,352,306 23,610,689
1,319,990 1,029,687 4,795,113
2 O i 3 4 6 20,3 72,047 19,738’,374
,304 .<*3
1,662,073 1,494,236 5,987,850 5,261,453
885,624 3,443,699 3,336,250
864,697
July 1 to Latest Date.
Latest Gross Earnings.
July 1 to Truest Dale.
Latest. Gross Earnings.
1,003,362 4,062,620 14,892,138 14,343,383
5,992,642 3,444,847 8,679,040 8,860,000
>,996.004 7,507,467 23,571,176 23.203,385
550,070
481,534
143,901
176,133
._
__
September
287,3:>9
267,615
100,4l>3
96,2«>o
Septem t>er
192,370
258,986
3d wk Nov
11,925
12,495
October
>,622.782 6,410,161 24,282,660 23,777,070
458,949
147,185
152.136
September
443,680
October
1,074,796 3,828,766 14,821,545 14,327,639
October
1,171,671 1,085,712 4,278,299 3,899,589
861,778
982,237
216,429
228,649
/ Evansv & Ter H October
S,475,117 5,130,907 20,082,082 19,089,005
Total of all lines. October
568,887
707,158
148,417
194,237
St L Rky Mt & Pac. October
235,858 4,952,635 4.542.978
290,034
St Louis Southwest. 3d wk Nov
655,492 1,898,160 2,118,782
634,845
San Ped L A & S L. September
Seaboard Air Line.)
432,987
401,354 7,797,661 7,276,262
Atlanta & Blrm. I 3d wk Nov
__
__
__
__
Florida W ShoreJ
Southern Indiana..
Southern Pacific Co
Southern Railway.
Mobile & Ohio
Cln N O & Tex P.
Ala Great South.
155,996
September
474,496
120,762
346,357
12478958 12654702 47,372,616 46,311,921
October
3d wk Nov 1,217,748 1,167,245 24,039,628 22,761,235
3d wk Nov
195,111 4,205.598 3,999,847
230,423
184,514
183.269 3,739,510 3,421,113
3d wk Nov
1,517,035
80,340 1,767,431
3d wk Nov
82,473
930,540
890,539
47,711
51,181
Georgia Sou & Fla 3d wk Nov
3d wk Nov
353,881 6,545,512 6,146,681
377,123
Texas & Pacific
19,789
21,622
7,242
6,748
Tidewater & West. septem oer
460,667
527,100
19,261
20,894
Toledo Peor & West 3d wk Nov
1,578,888
94,120 1,570,852
87,345
Toledo St L & West 3d wk Nov
18,851
?l,05t
6,230
6, / 41
Tomoigbee Valley. _ September
8,905,657 8,890,381 33,911,422 32,474,222
Union Pacific Syst. October
863,432 2,795,721 2,391,013
973,067
Vandalla
September
_
■
_.
Virginia & Sou West October
__
.Vi wk Nov
Waoash
Western Maryland. September
W Jersey & Seash.. October
Wheeling & Lake E October
__
Wrlghtsvllle & Tenn September
Yazoo & Miss Vail. October
116,519
592,310
665,658
487,730
612,581
32,710
965.137
416,781
426,587
111,704
574,101 12,4At ,41V 11,823,841
610,391 2,003,356 1,733,048
437,630 2,967,569 2,643,069
619,874 2,580,589 2,471,015
70,920
72,628
37,270
1,024,095 3,148,637 3,174,137
._
Previous
Year.
Current
Year.
Period.
Various Fiscal Years.
__
._
.
__
__
—See New York Cen tral.
MTchlgan Central
343,515
298,973
16,159
3d wk Nov
Mineral Range
15,249
144,897 2.179,859 2,096,625
Min neap & St Louis 2d wk Nov
120,597
10,246,620
492,785 9,740,426
Minn St P & S S Ml 3d wk Nov
491,567
Chicago Division]
195,991
230,437
72,175
79,273
Mississippi Central. September
u Mo Kan & Texas. October
3,164,140 2,856,104 10,256,164 9,425,147
..
Mo Pac & Iron Mtl
Central Branch.] 3d wk Nov 1,089,000
Nashv Chatt & St L September
970,828
a Nat Rys of Mcx.i. 3x1 wk Nov 1,202,300
3d
wk
Nov
7,357
Nevada-Cal-Oregon.
Nevada Central
September
N O Great Northern September
N O Mobile & Chic. Wk Nov 19
N Y Ont & Western September
6.046
143,024
35.550
826,343
,064,000 21,819,094 21,439,961
934,410 2,854,041 2,781,413
,116,271 24,608,016 21,496,708
222,704
173,144
10,525
18,110
6,86,
105,979
34,206
713,930
436,498
672,818
2,739,215
18,449
312,792
597,652
2,432,353
Bellefonte Central
Delaware & Hudson
a Mexican Railway
a Mexico North Western
e N Y Central & Hudson River.
Lake Shore & Michigan South
n Lake Erie & Western
AGGREGATES OF GROSS EARNINGS—Weekly
Weekly Summaries.
Cur’nt Year Prev’s Year
$
2d
3d
4th
1st
2d
3d
4th
1st
2d
3d
week Sept
week Sept
week Sept
week Oct
week Oct
week Oct
week Oct
week Nov
week Nov
week Nov
(39 roads)
(40 roads)
(46
(42
(42
(42
(46
(41
(43
(40
roads)
roads)
roads)
roads)
roads)
roads)
roads)
roads)
Inc. or Dec.
13,014,025
14,164,775
13.566.355
19,035,149
18,221.030
14,399,649
14,838,200
13,114,753
20.827.936
14,198,835
14.555.983
14,278,852
14,023,816
14,158,835
+884,171
+ 598,420
+ 814,119
+ 375.833
+
679,365
14,373,360
+ 602,475
+ 623,798
+ 362,290
+ 182,623
13,578,646
+
14,512,278
20,204.138
13,836,545
700.206
6.80
4.41
4.47
2.68
4.80
4.15
3.06
2.61
1.27
5.16
1
to
Oct
31
Jan
1
to
to
to
to
to
to
to
to
to
to
to
Sept
30
Mileage Curr. Yr. Prev. Yr.
231.362
January _„_236,758
236,852 231,652
February
230,841
March
235.925
April
237.569 232,463
May
237.560 232,494
June
238,108
July
238,169
August
238,493
September. .233,4 28
October
81,498
to
to
to
to
to
to
to
to
to
to
to
to
to
$70,343
J
Current
Yr. Previous Y
$
210,302,219
202,258,490
237.533.005
225,225,596
234.310.642
232,054 237,036,159
233,203 230,615.776
239,404 2o4.005.972
229.161 252,711,515
79,146 69,014,101
Mexican currency,
d Covera tines directly
.
$
182.649,825
174,159,723
204.916,997
196,595,911
Inc. or Dec.
%
$
201,069,381
+ 27,652,394
+ 28,098,767
+ 32,616,008
+ 28,629,685
+ 33,241.261
209,270,887
217,803.354
235,726.000
242,562,898
67,173,773
+ 12,812,4 22
+ 18,279,972
+ 10,148,617
+ 1,840,328
4-27,765.272
15.14
16.lit
15.92
14.56
16.53
13.27
5.90
7.75
4.19
2.14
Adirondack and the Ottawa £
Includes Evansville es
earnings of MasonOlty
Nov- 1 1909. I In*
operated, e Includes the New York & Ottawa, the St. Lawrence <fc
N. Y. Ry., the latter of which, being a Canadian road, does not make returns to the Inter-State Commerce Commission,
t
Indiana RR.
a Includes the Cleveland Lorain & Wheeling Ry. in both years,
n Includes the Northern Ohio RR- P Includes
A Ft Dodge and Wise Minn. & Pacific,
s Includes Louisville a Atlantic from July 1 1909 and the Frankfort & Cincinnati from
piudes the Mexican International from July 1910.
u Inoludes the Texas Central in 1910.
a
$50,314
14,899,136 14,165.202
Nov 14
7,261,800 6,565,900
31
Oct
1,029,068
1,843,331
31 82,941,864 76,638,451
Oct
31 41,299,387' 37,038,582
Oct
31
Oct
4,573,643 4,077,233
Oct
31
3,032,345 2,571,125
Oct
31 24,609,403 22,543,654
31 25,039,728 22,634,621
Oct
Oct
31
2,909,083 2,462,701
31
Oct
975,457
1,074,413
Oct
31 14,588,878 11,836,433
31
Oct
2,775,033 2,573,816
31
Oct
9,326,499 8,209,747
31
Oct
4,151,566 3,177,743
31 216321842 194739 563
Oct
31 10,591,771 10,072,071
Oct
31 137023656 125222056
Oct
H;c.ll,66 ;,uoo
S1
Oc;
31 15,929,387 14,631,387
Oct
O)
Oct
8,85;>,414 24.686.4G8
765,504
Scot 30
843,170
Nov 21 13,976,178 12,764,849
31
Oct
5,567,521 5,041,621
and Monthly.
Monthly Summaries.
%
$
$
13,898,196
Jan
Jan 1
Jan 1
Jan 1
Jan 1
Jan 1
1
Jan
Chicago Indiana & Southetn.
Jan 1
Michigan Central
Cleve Cln Chicago & St Louis Jan 1
Jan 1
Peoria & Eastern
Jan 1
Cincinnati Northern
Jan 1
Pittsburgh & Lake Erie
Jan
1
Rutland
New York Chicago & St Louis Jan 1
Jan 1
Toledo & Ohio Central
Jan 1
Total all lines
Jan 1
Northern Central
d Penn—East of Plttsb & Erie.. Jan 1
. tn
1
d vVest of Plttsb & K'rle
Phlla Baltimore & Washington. Jan 1
Plttsb Cin Chicago & St Louis.. Jan 1
Dec 1
Rio Grande Junction
Jan 1
Texas & Pacific
1
Jan
West Jersey & Seashore.
1506
THE
CHRONICLE
Latest Gross Earnings
by Weeks.—In the table which
follows we sum up
separately the earnings for the third week
of November.
The table covers 40 roads and shows 5.16%
increase in the aggregate over the same wreek last
year.
Third Week oj November.
1910.
1909.
$
82,473
Atlanta Birm & Atlantic
60,061
Buffalo Rochester & Plttsb
198,095
Canadian Northern
363,100
Canadian Pacific
2,106,000
Central of Georgia
295,500
Chesapeake & Ohio Lines
651,209
Chicago & Alton
335,804
Chicago Great Western
274,208
Chicago Ind & Louisville
109,634
Cln New Orl & Texas Pacific
184,514
Colorado & Southern
383,825
Denver & Rio Grande
512,200
Detroit & Mackinac
20,645
Detroit Toledo & Ironton
39,285
Ann Arbor
42,477
Duluth South Shore & Atlantic
64,150
Georgia Southern & Florida
47,711
Grand Trunk of Canada
Grand Trunk Western
910,786
Detroit Gr Haven & Mllw
Canada Atlantic
J
International & Great Northern
187,000
Interoceanlc of Mexico
162,758
Kansas City Mexico & Orient.
38,900
Louisville & Nashville
1,142,255
Mineral Range
15,249
Minn St P & S S M
T
491,567
Chicago Division
j
Missouri Pacific
1,089,000
Mobile & Ohio
230.423
National Railways of Mexico.. 1,202,300
Nevada-Callfornla-Oregon
7,357
Rio Grande Southern
11,925
St Louis Southwestern
290,034
Seaboard Air Line
432,987
Southern Railway
1,217,748
Texas & Pacific
377,123
Toledo Peoria & Western
20,894
Toledo St Louis & Western
87,345
Wabash
592,310
Alabama Great Southern.*
__
_
Total (40 roads)
Net Increase (5.16%).
Increase. Decrease.
$
80.340
55.930
187,019
357,900
1,993,000
258,900
618,414
330,189
289,679
112,498
183,269
375,855
473,100
19,646
30,322
38,012
59,476
51,181
S
2,133
4,131
11,076
5,200
113,000
36,600
32,795
5,615
15,471
2,864
1,245
7,970
39,100
999
8,963
4,465
4,674
3,470
885,456
25,330
177,000
143,049
36,500
1,068,745
16,159
492,785
10,000
19,709
2,400
73,510
1,064,000
195,111
1,116,271
10,525
12,495
235,858
401,354
1,167,245
353,881
19,261
94,120
574,101
25,000
35,312
86,029
14,278,852 13,578,646
910
1,218
3,168
570
54,176
31,633
50,503
23,242
1,633
18,209
734,652
700,206
34,446
_
-
3,442,524
Oct
July 1
Centri
July 1
a
Citj
July 1
isas
July 1 to Oct 31
.Oct
765,502
2,860,196
334,160
1,188,486
Oct
951,102
3,527,437
Oct
39,858
173,594
_
727,507
2,669,020
327,563
1,168,100
861,897
3,018,670
34,866
151,392
Jan 1 to Oct 31
Inc 672,359
Louisville & Nashville.b.Oct 4,922,964
4,706,690
July 1 to Oct 31
18,302,002 16,924,717
Maine Central, b
Oct
823,574
782,135
July 1 to Oct 31.
3,292,965 3,252,151
Minneap & St Louis.a.-Oct
524,091
566,024
July 1 to Oct 31--__-_ 1,925,443
1,826.609
Missouri Kans & Tex.b-Oct 3,164,140
2,856,104
HgJuly 1 to Oct 31
10,256,164 9,425,147
288,095
1,061,560
245,198
854,037
£77,691
£247,770
387,856
£98,246
£287,354
324,453
1,020,237
6,861
37,942
1,346,964
12,978
60,304
Dec 92,981
1,697,028
5,542,519
263,775
1,005,423
£166,865
£602,745
1,277,072
3,216,086
2,057,058
6,864,360
258,488
1.219,223
£198,757
£658.704
1,324,723
3,590,642
LXXXXl
Net Earnings
Current
Previous
Year.
%
2,520,603
8,806,718
Year.
$
1,797,604
6,907,937
9,166,923
1 to Oct 31
82,941,864
Lake Shore & M S.b.Oct
4,399,008
Jan 1 to Oct 31
41,299,387
Lake Erie & West.b.-Oct
495,287
Jan 1 to Oct 31
4,573,643
Chicago Ind & Sou.b.Oct
327,011
Jan 1 to Oct 31
3,032,345
Michigan Central.b...Oct 2,706,510
Jan 1 to Oct 31
24,609,403
C C C & St Louis.b.-Oct
2,868,096
Jan 1 to Oct 31
25,039,728
8,889,032
2,590,220 3,027,229
76,638,451 21,922,099 23,468,702
4,307,469
1,252,326
1,782,098
37,038,582 12,593,991 14,095,795
e
505,275
108,044
170,019
4,077,233
1,037,298
877,936
324,804
78,000
95,808
2,571,125
720,461
574,652
2,700,718
634,376
1,081,361
22,543,654
6,764,763
7,326,377
2,585,574
724,828\
811,285
22,634,621
5,725,216
6,554,825
Peoria & Eastern.b._.Oct
342,741
294,366
105,359
112,011
Jan 1 to Oct 31
2,909,083
2,462,701
823,752
733,901
Cincinnati Northern.b Oct
117,580
119,075
18,233
40,631
Jan 1 to Oct 31
1,074,413
975,457
219,485
230,505
Pittsburgh & Lake E b Oct 1,634,951 1,601,088
906,248
1,061,980
Jan 1 to Oct 31
14,588,878 11,836,433
7,987,020
6,682,587
Rutland.b
Oct
331,918
321,384
100,575
98,361
Jan 1 to Oct 31
2,775,033
2,573,816
829,680
757,264
N Y Chic & St L_b--_Oct
1,093,571
984,127
368,280
432,682
Jan 1 to Oct 31
9,326,499 8,209,747 2,874,783
2,629,987
Toledo & Ohio Cen.b.Oct
500,823
384,833
189,900
146,732
Jan 1 to Oct 31.
4,151,566
3,177,743 1,509,512
978,892
Total all lines.b
Oct23,984,419 23,017,745 7,076,383 8,860,197
Jan 1 to Oct 31
216,321,842 194,739,563 63,008,150 64,911,425
““
N Y N H &
Hartford.b.Oct 2,571,071
5,417,411
2,074,653
2,137,751
July 1 to Oct 31
.22,046,413 20,969,571
8,393,896
8,476,034
N Y Susq &
Western_a.-Oct
335,527
326,581
117,955
96,499
July 1 to Oct 31
1,246,136
1,128,372
355,681
294,149
Norfolk & Western.b...Oct
3,300,513
3,045,354
1,357.516
1,246,225
July 1 to Oct 31
12,591,374 11,553,005 4,838,780 4,823,566
Northern Central.b
Oct 1,180,907
1,245,307
150,873
445,973
Jan 1 to Oct 31
10,591,771 10,072,071
1,879,078
2,142,078
Jan
of Pitts & Erie..Oct
14,576,084
to Oct 31
137,023,656
Jan 1
14,773,884
Reading Company—
Phila & Reading.b
July 1 to Oct 31
Coal & Iron Co.b
July 1 to Oct 31
Total both cos.b
July 1 to Oct 31
Oct 4,003,362
4,541,187
4,062,620
Dec 567,100
Inc 413,500
600,836
3,914,722
631,636
3,892,922
1,453,399
1,705,227
5,556,318
252,066
24,979
1,957,293
5,581,297
143,735
581,833
144,918
588,405
1,638,135
5,455,125
2,102,211
6,169,702
2,097,488
7,097,890
2,397,218
8,351,611
1,148,821
4,430,655
400,756
1,442,932
88,557
377,929
14,892,138 14,343,383
5,227,095
Oct 2,992,642
3,444,847
41,001
8,679,040
8,860,000 def353,803
Oct 6,996,004
7,507,467
1,494,400
23,571,176 23,203,385
4,873,292
Reading Company
Oct
July 1 to Oct 31---..
•
___■
Total all companies
Oct
July 1 to Oct 31
Rock Island Lines.b
Oct 6,622,782
July 1 to Oct 31
24,282,660
St Louis & San Fran.b--Oct 4,074,796
July 1 to Oct 31
14,821,545
Chic & East’n Ill_b---Oct 1,171,671
July 1 to Oct 31
4,278,299
Evansv & Terre H-b--Oct
228,649
July 1 to Oct 31
982,237
Total all lines_b
Oct 5,475,117
July 1 to Oct 31
_.20,082,082
St L Rocky Mt & Pac.a-Oct
194,237
July 1 to Oct 31
707,158
Southern Paclfic-a
Octl2,478,958
July 1 to Oct 31
47,372,616
Southern Railway—
Mobile & Ohio.b
Oct
915,300
July 1 to Oct 31
3,540,102
Cine N O & Tex Pac.b-Oct
808,416
July 1 to Oct 31
3,192,827
Alabama Great Sou.b.Oct
399,074
July 1 to Oct 31
1,516,885
Toledo Peo & West.b_.Sept
122,521
July 1 to Sept 30
341,016
Union Pacific .a
Oct 8,905,657
July 1 to Oct 31.
33,911,422
5,112,887
125,222,056 37,643,188 36,819,388
West of Pitts & Erie. _Oct
Inc
121,400
Jan 1 to Oct 31
Inc 11,664,000
Phila Balto & Wash
Oct 1,660,681
1,564,481
Jan 1 to Oct 31
15,929,387 14,631,387
-Net EamingsCurrent
Previous
Year.
Year.
$
$
$
$
Atch Top & Santa Fe.b.Oct
9,931,805
9,444,348 j3,762,648 .73,587,499
July 1 to Oct 31
36,091,145 34,879,236^13,498,835^13,334,985
Atlanta Birm & Atlantlc.Oct
244,915
237,438
67,239
76,298
July 1 to Oct 31
909,590
832,169
222,675
190,100
Atlantic Coast Line.a..-Oct
2,557,255
2,503,776
801,045
886,681
July 1 to Oct 31
9,021,843
8,334,509
2,301,817 2,209,894
Bangor & Aroostook
Oct
269,559
256,085
99,781
98,884
July 1 to Oct 31
995,959
950,551
344,756
375,219
Boston & Maine.b
Oct 4,085,314
3,914,354
1,163,360 1,316,966
July 1 to Oct 31
16,215,892 15;573;202 4,692,555 5,313,408
Buffalo Roch & Pitts.b.Oct
889,593
800,899
317,124
294,088
July 1 to Oct 31
3,369,847
3,232,212
1,298,960
1,289,362
Canadian Pacific.a
Oct 10,229,370
9,744,597
4,505,160
4,386,297
July 1 to Oct 31...
37,669,130 32,634,790 15,593,052 13,262,116
Central of Georgia.a
Oct 1,244,300
1,251,257
<1427,373
d488,021
July 1 to Oct 31
4,295,951
4,056,892 dl,174,516 dl,237,057
Chic Mllw & St Paul.b.-Oct
6,508,261
6,553,305 2,100,237 2,651,357
July 1 to Oct 31
24,352,306 23,610,689 7,468,921 8,309,555
Chic Mllw & Pug S
Oct 1,319,990
1,029,687
673,073
634.969
July 1 to Oct 3
4,795,113
2,358,227
Tacoma Eastern
Oct
49,576
7.546
July 1 to Oct 3
221.732
77,947
Oct 1,662,073
1,494,236
698,690
599,281
July 1
5,987,850
5,261,453
2,235,186
1,867,193
Oct
203,964
243,962
35,263
58,287
July 1 to Oct 31
758,162
867,475
122,258
160,488
Colorado & Southern.
Oct 1,632,436
1,609,924
660,646
660,027
July 1 to Oct 31
5,996,434
5,665,391
2,120,450 2,180,752
Oct
11,906
14,020
5,963
7,575
July 1 to Oct 31.
60,125
56,644
28,897
28,740
Oct
190,692
156,698
71,683
40,089
July 1 to Oct 31.
821,883
641,234
346,454
196,586
Lack & Western.!
O o 3,218,296
3,261,250
1,359,289
1,590,829
July 1 to Oct 31
12,354,823 12,257,177
5,004,032
5,841,830
July 1 to Sept 30.
9,136,527
8,995,927
3,644,744
4,251,000
Jan 1 to Sept 30.
26,654,640 25,323,063 11,432,412 11,394,951
b—
302,623
274,469
136,636
146,443
Jan 1 to Sept 30_
793,199
728,320
368,220
334,702
rolt & Mackinac, a.Oct
99,021
108,842
24,928
35,362
July 1 to Oct 31.
418,413
425,2 i
B127.821
122,702
.Oct 5,115,689
5,180,085
1,357,663
1,704,180
July 1 to Oct 31.
20,231,648 18,894,541
5,963,169
5,470,214
Fairchild & Northeast. .Oct
1,900
1,884
defl,662
def 611
July 1 to Oct 31.
8,016
7,503
def9,072
def5,200
Fonda Johnst & Glov. .Oct
78,832
71,198
45,205
38,116
July 1 to Oct 31.
356,166
321,666
203,628
181,860
Georgia RR.b
Oct
316,283
318,130
110,543
110,627
July 1 to Oct 31.
1,042,208
1,015,690
243,191
275,112
Oct 5,617,669
5,301,602
1,483,163
1,292,786
July 1
20,763,629 19,294,071
4,875,389
teroceai
$
3
Nat Rys of Mexico
Oct 5,735,960
4,823,874
July 1 to Oct 31
21,325,339 18,203,032
cN YCentfc Hud Rlv.b.Oct
g
6,775
Earnings Monthly to Latest Dates.—The table fol¬
lowing shows the gross and net earnings of STEAM railroads
and of industrial
companies reported this week:
Roads.
-Gross EamingsCurrent
Previous
Year.
Year.
Roads.
Pennsylvania—Lines directly operated—
East
Net
-Gross EamingsCurrent
Previous
Year.
Year.
[VOL.
6,410,161
23,777,070
3,828,766
14,327,639
1,085,712
3,899,589
216,429
861,778
1,396,639
4,827,015
371,123
1,394,708
75,400
388,648
5,130,907
1,843,163
1,638,134
19,089,006
6,610,372
6,251,516
148,417
68,903
50,881
568,887
240,899
182,012
12,654,702
4,619.330
5.341.C62
46,311,921 17,283,915 18,429,189
937,613
284,760
297,092
3,381,850
1,018,276
1,064,544
799,455
326,433
300,501
2,887,012
1,344,712
1,047,476
370,630
127,349
118,352
1,285,004
466,118
360,282
105,187
38,311
32,434
296,166
88.750
84,778
8,890,381
4,052,659
4,770,102
32,474,222 15,047,865 17,110,551
Virginia & Southwest.b.Oct
116,519
111,704
41,057
39,736
July 1 to Oct 31
426,587
416,781
150,359
142,944
West Jersey & Seashore.Oct
484,730
437,630
16,138
39,538
Jan 1 to Oct 31.
5,567,521
5,041,621
1,322,995
1,384,695
Yazoo & Miss Valley.a--Oct
965,137
1,024,095
275,097
242,073
July 1 to Oct 31
3,148,037
3,174,137
443,116
232,749
_^
INDUSTRIAL COMPANIES.
Companies.
Gross Earnings
Current
Previous
Year.
Year.
%
$
American Express Co.b.Aug 1,748,757
July 1 to Aug 31
3,419,106
Atlantic City El Co
Oct
29,670
-Net
Eamings-
Current
Year.
$
214,725
395,499
186,766
390,566
23,661
14,186
12,119
Subsidiary corrtpanles.Sept 1,262,316
Jan 1 to Sept 30
...12,102,221
Scranton Elect Co
26,103
39,207
407,108
Oct
61,679
Exp Co.b.Aug
867,021
July 1 to Aug 31
1,708,884
Wells Fargo Express.b.Aug 1,121,462
July 1 to Aug 31
2,134,218
Wheeling Cos
Oct
15,159
United States
Net earnings
b Net earnings
c Includes the
Ottawa & N. Y.
$
1,456,685
2,928,781
Atlantic Gulf & West Indies SS Lines—
Canton Elect Co
Oct
Portland (Me) Elect Co.Oct
Nov 1 to Oct 31
Previous
Year.
230,915
2,530,399
22,478
14,945
31,596
347,055
21,425
254,573
58,173
667,778
36,236
29,127
55,768
108,375
def27,354
def71,088
219,998
482,355
1,319,064
1,186,690
2,401,739
13,266
216,255
347,757
7,523
12,596
20,859
215,343
7,079
here given are after deducting taxes,
here given are before deducting taxes,
N. Y. & Ottawa, the St. Lawrence &
Adirondack and the
Ry., the latter of which, being a Canadian road, does not
make returns to the Inter-State Commerce
Commission.
d In Oct. 1910 net from outside operations was
$6,410, against $6,056 last
year, and from July 1 to Oct. 31 was $27,424 this year,
against $26,252.
e Includes the Northern Ohio RR.
g These results are In Mexican currency.
h For October 1910 additional Income was
$12,451, against $1,910 In
1909, and for period from July 1 to Oct. 31 was $21,645
In 1909,against
$1,387 last year.
j The company now Includes the earnings of the
Atch.
& Santa Fe
Ry., Gulf Colo. & Santa Fe Ry., Eastern Ry. of NewTop.
Mexico svstem
Santa Fe Prescott & Phoenix Ry., Southern
Kansas Ry. of Texas, Texas
a
T. and C. S. S. & L. V. RR. In both years
$260,599, against $308,635 in 1909; after de¬
ducting which, net for Oct. 1910 was $3,502,049, against $3,278,864 last
year.
For period from July 1 to Oct. 31 taxes were $1,202,951 in 1910
against $1,170,969 in 1909.
k For October 1910 additional income was $2,936, against $23,867 In
1909, and for period from July 1 to Oct. 31 was $34,181 In 1910, against
$73,290 last year.
Interest Charges
Previous
Year.
Year.
$
93,704
378,461
176,691
707,685
29,820
119,280
287,572
1,082,261
36,667
146,667
Bangor & Aroostook
Oct
July 1 to Oct 31
Buffalo Roch & PIttsb-.Oct
July 1 to Oct 31
Colorado Midland
Oct
July 1 to Oct 31
Colorado & Southern
Oct
July 1 to Oct 31
Cuba RR
Oct
July 1 to Oct 31
Delaware Lacka & Western—
2,485,670
July 1 to Sept 30
7,739,589
Jan
1 to Sept 30
Syracuse Bing & N Y—
34,119
July 1 to Sept 30
176,731
Jan 1 to Sept 30
67,373
Georgia RR
Oct
326,543
July 1 to Oct 31_
549,269
Missouri Kans & Texas. .Oct
2,334,752.
July 1 to Oct 31
500,473
Norfolk & Western
Oct
2,008,380
July 1 to Oct 31
885,000
Reading Company—.—Oct
3,540,000
July 1 to Oct 31
32,944
St L Rocky Mt & Pac
Oct
131,192
July to Oct 31
26,750
Toledo Peoria & West.-Sept
75,026
July 1 to Sept 30
$
$
$
£24,506
£36,917
80,776
£39,849
£101,025
330,236
£208,523
£149,998
169,327
£878,083
£726,074
663,266
cdef4,529
C14.309
29,820
119,280 Cdef36,888 Cdefl3,444
C372,218
C421.406
256,307
1,018,129 Cl,069,854 Cl,275,553
35,017
3,432
36,657
199,788
54,719
141,877
u
£13,929
£22,964
£11,030
£17,730
INDUSTRIAL COMPANIES.
—Int., Rentals, &c.—
Current
Previous
Year.
Year.
Companies.
$
Atlantic City Elect Co__Oct
5,075
Atlantic Gulf & West Indies SS Lines—
Subsidiary companies .Sept
156,299
Jan 1 to Sept 30
1,487,694
.Oct
3,937
Canton Elect Co
9,933
Portland (Me) Elect Co. .Oct
1
to
114,962
Oct 31..
Scranton Elect Co
.Oct
9,754
Wheeling Cos
.Oct
1,145
c
x
$
5,308
of Net E’ngs.—
Current
Year.
Previous
Year.
$
$
6,811
9,111
2,858
10,558
9,738
11,492
139,611
11,665
105,762
7,916
1,024
21,211
6,055
26,482
6,378
credits to income.
332.977
142,768
137,196
3,575,659
6,689,347
Wk Nov 26
Metropolitan Dist. Wk Nov 26
United Tramways. Wk Nov 26
August
Union (Rec)
£14,125
£13,355
£10,517
£4,848
189,321
224,313
733,766
51,103
34,835
£602,320
£507,171
£296,131
1,488,773
2,137,596
6,337,515
352,450
299,290
September
_
_
of London—
Three tube lines
£11,624
£4,685
212,511
241,764
UnlonRy,G&ECo(Ill) September
United RRs of San Fr October
670,295
56,584
33,781
_.
Westches Elec (Rec). August
Whatcom Co Ry & Lt September
Yonkers RR (Rec)__ August
c
These
Latest Gross Earnings.
Current
Year.
Week or
Month.
216,505
$
310,419
137,662
49,173
8,249
27,788
183,187
11.974
12.832
$
339,378
154.359
49,593
8,881
American Rys Co _. -. October
c Au Elgin & Chic Ry October
Bangor Ry & Elec Co October
Baton Rouge Elec Co September
October
Binghamton Ry
..
__
28,462
_.
Blrm’ham Ry Lt & P July
Brockt’n & Ply St Ry September
Bklyn Rap Tran Sys. August
Previous
Year.
Jan. 1 to latest date.
Current
Year.
Previous
1,415,845
1,296,061
471,776
444,663
70,743
94.130
1,276,482
103,902
1972,238 1936,237 14,573,476 13.707,5u5
187,900
217.063
25,890
28,835
180,609
201,676
24,271
October
29,164
391,843
422,480
53,469
58,425
August
627,520
691,474
October
62,773
68,635
574,785
650,947
67,806
77,022
September
9.014,329 8.188,754
1066,056
1175,420
September
301,199
271,673
29,467
October
31,818
160.020 166,357 1,027,223 1,025,421
August
931,301
119,804 107,570 1.037,613
September
3d wk Nov
160,510 138,638 8,321,335 7,108,619
420,645
411,023
56,506
54,036
August
810,837
906,006
October
87,235
95,278
October
209,592 191,775 1.966.354 1,672,853
426,875
460,332
50,501
54,846
September
387,874
504,497
October
41,433
58,504
Cape Breton Elec Co. September
Carolina Pow & Lt Co
Cent Park N & E Riv
Central Penn Trac
Chattanooga Ry & Lt
Chicago Railways Co.
Cleve Palnesv & East
Coney Isl & Brooklyn
Dallas Electric Corp.
Detroit United Ry
D D E B & Bat (Rec)
Duluth-Superior Trac
East St Louis & Sub.
El Paso Electric
Falrm & Clarks Tr Co
Ft Wayne & Wabash
Valley Traction Co
42dStM&SNAv (Rec)
Galv-Hous Elect Co.
Grand Rapids Ry Co.
..
..
..
..
October
131.360
August
129,238
110,145
91,267
41,954
September
October
Wk Nov 27
__
Havana Electric Ry.
Honolulu Rapid Tran
& Land Co
October
_
_
Houghton Co Trac Co September
Hudson & Manhattan August
Illinois Traction Co._ September
Interbor R T (Sub).. August
Interbor R T (Elev).
Jacksonville Elect Co
Kans City Ry & Lt Co
Lake Shore Elec Ry.
September
Long Island Electric. August
Metropolitan St (Rec) August
Mllw El Ry & Lt Co. October
_.
__
_.
Mllw Lt Ht & Tr Co. October
Montreal Street Ry__ October
Nashville Ry
Light October
New Orleans Ry & Lt September
N Y City Interbor-. August
N Y & Long Island Tr August
N Y & Queens County August
Norf & Portsm Tr Co October
North Ohio Trac & Lt October
North Texas Elec Co. September
Northwest Elec Co_. October
Ocean Electric
August
Paducah Tr & Lt Co. September
Pensacola Electric Co September
Port(Ore)Ry,L&P Co October
__
_.
..
..
__
_
_
Puget Sound Elec Co. September
Richmond Lt & RR. July
Rio de Janeiro Tram
Light & Power Co. October
St Joseph (Mo) Ry Lt
Heat & Power Co.. October
Sao Paulo Tr Lt & P. October
36,375
28,732
138,433
455,137
1189,428
August
October
October
39,118
26,710
186,862
529,291
915,702
122,806
120,563
100.837
82,519
38,397
38,375
45,995
693,420 642,238
94,255
105,075
24,625
24,226
1132,410 1072,661
406,919 376,355
89,028
77,696
386,688 354,007
161,507 148,992
493,491 466,738
15,503
20,534
39,307
40,319
98,936
111,065
166,776 156,540
208,342 184,815
118,192 104,829
193,914 184,430
24,147
26,764
19,096
21,251
23,264
21,649
503,485 426,708
160,545 179,956
47,797
42,658
1,266,086 1,161,156
859,684
929,909'
894,605
966,1361
947,928'
1,826,792
373,675
237,450
341,989
242,425
423,414
6,189,534
1,018,739
140,872
9,385,226
3,863,695
896,007
3,712,797
1.503.354
4,629.019
146,362
243,107
742,763
3,870,153
350,587
5,697,049
929,316
130,921
9,156,290
3,493,240
783,825
3,293.772
1,415,675
4.445,669
110,935
226,817
656,371
2,045,748
1,041,568
1,833,958
88,482
1,818,987
910,119
1,707,858
86,979
199.464
4,609,974
1,445,274
195,133
184,050
3,974,355
1,410,887
189,996
965,265
645,195
8,999,034
6,252,690
87,613
255,628
82,362
205,146
854,363
805,170
1,981,417
2.406.201
1,981,436
3,190,268
6,167,622
£594,425
£464,631
£284,294
1,355,726
2,016,724
6,190,805
288,795
295,190
Net Earnings.—The following table gives
railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Nov. 29 1910.
The
Dec. 26 1910.
-Net Earnings-
-Gross Earnings-
Year.
Year.
Year.
Year.
Roads.
__Oct
*
28,462
$
27,788
$
12,496
$
11,810
Carolina Power& Light. .Oct
Jan 1 to Oct 31
29,164
201,676
14,652
82,792
10,230
71,176
Cleve Palnesv & East .a-Oct
Jan 1 to Oct 31
31,818
301,199
24,271
180,609
29,467
271,673
15,421
145,756
12,621
126,242
103,826
933,836
98,569
761,641
63,994
559,806
49,134
489,638
52,420
482,231
18,881
168,552
44,501
439,871
65,784
317,997
68,566
295,365
661,295
4,881,115
43,167
396,467
667,207
4,134,366
39,195
Binghamton Ry
East St L & Suburban.b
Jan 1 to Oct 31
191,775
1,672,853
122,806
1,161,156
36,375
341,989
94,255
929,316
156,540
669,211
1,646,415
10,531,707
82,362
805,170
596,962
5,773,383
733,766
6,190,805
209,592
1,966,354
Oct
131,360
Ft W & Wab V Tr Co.b-Oct
1,266,086
Jan 1 to Oct 31
39,118
373,675
105,075
Oct
1,018,739
RT&L’dCo.b.Oct
1
Oct 31
to
__
Lake Shore El Ry.a
Jan 1 to Oct 31.
_
__
.
166,776
724,574
July 1 to Oct 31.
Phila Co (affiliated cos) a-Oct 1,649,892
11,488,041
Apr 1 to Oct 31
87,613
StJos(Mo)Ry,Lt,H&P_b Oct
854,363
Jan 1 to Oct 31
Norf & Portsm Tr Co.b.Oct
_
_
_
645,358
6,265,727
670,295
United RRs of San Fr.b.Oct
6,337,515
Jan 1 to Oct 31
Net earnings here given are after
a
b Net earnings here given are before
20,221
180,568
1
387,473
319,788
336,616
3,268,877
282,484
3,063,640
2,388,535
2,364,930
331,229
deducting taxes,
deducting taxes.
Charges and Surplus.
—Bal. of Net E’ngs.—
Previous
Current
Year.
Year.
—Int., Rentals, &c.—
Previous
Current
Year.
Year.
Roads.
Binghamton Ry
Oct
Cleve Palnesv & East
Jan 1 to Oct 31
Oct
East St L & Suburban.
Jan 1 to Oct 31
_Oct
Ft W & Wab V Tr Co...Oct
Jan 1 to Oct 31
"
$
9,118
8,083
80,691
50,361
501,055
$
8,941
7,828
75,428
49,491
494,601
45,829
42,285
451 383
423,730
6,971
65,789
34,669
347,678
Lake Shore Elect Ry
Jan 1 to Oct 31
Oct
Norf & Portsm Trac
Jan 1 to Oct 31
Oct
61,097
255,396
StJos(Mo)Ry, Lt, H & P Oct
23,297
227,056
6,378
62,135
35,454
344,546
62,416
251,943
21,521
213,602
140,321
1,401,974
140,251
1,388,761
Honolulu R T & L’d Co.
Jan 1 to Oct 31
Jan
1
_
x
After
Oct
Oct 31
to
Oct
Twin City Rap Tr Co
Jan 1 to Oct 31
& Taxes.
$
$
Hudson & Manhat.
186,802
Interbor R T (Sub)
915,702
Interbor R T (Elev)l ,189,428
Bklyn R T System. 1 .972 238
Metrop St (Rec)__l ,132,410
Cent Pk N & E Riv.
58,425
(Rec)
Third Ave (Rec)__
DDEB & Bat (Rec)
83,582
296,474
42d St M & S N(Rec)
129,238
Ave
_
NYC Interboro
Southern Boulevard
Union
(Rec)
Westchester El (Rec)
Yonkers
(Rec)
Long Island Elec..
54,036
10,799
212,511
56,584
59,107
24,226
40,319
Co..
111,065
Electric
Coney Isl & Bklyn.
Deficit.
h Interest
88,389
398,945
647,880
1, 215,861
749,239
50,087
67,596
167,854
42,265
77,141
20,534
N Y & L I Trac....
N Y & Queens
Ocean
$
7,338
65,065
4,793
50,814
53,465
432,781
49,078
267,040
18,165
108,423
10,135
58,501
£13,325
£112,792
9,047
95,325
£13,683
£120,476
14,465
141,960
4,687
62,601
19,870
168,411
196,295
1,866,904
2,869
6,150
43,422
17,674
173.871
179,537
1,674,879
1910.
Income
Inc.
Deduc’ns. Surp.
$
$
$
York City Street Railways—August
iStreet Ry. Expenses Net from
Other
Revenue.
Second
$
3,378
allowing for other income received.
New
*
...
2,378,817
2,178,648
59,067
134,061
146,097
436,254
2,008,166
Electric Railway
858,541
1,951,241
1,656,179
4,404,389
9,149,929
10,069,685
564,896
the returns of ELECTRIC
Interest
3.025,511
1,496,110
550,467
72,240
149,597
149,793
459,205
Year.
3,279,158
79,827
451,818
figures are for consolidated company.
—
Name o
Road.
468.183
59,107
Twin City Rap Tr Co.b.-Oct
Jan 1 to Oct 31
AND TRACTION COMPANIES
RAILWAY
$
379,721
Jan
9,194
109,482
$
October
3d wk Nov
September
August
_
Honolulu
74,616
1,042,705
After allowing for miscellaneous charges and
After allowing for other income received.
ELECTRIC
- —Bal.
Previous
Year.
Current
Year.
$
49,523
568,494
80,683
9,817
13,65
37,08
47,108
278,686
217,738
Tampa Electric Co..
Third Avenue (Rec)
Toledo Rys & Lt Co.
Toronto Ry Co.:
Twin City Rap TranUnderground El Ry
£187,379
29,304
£156,474
£405,878
£422,393
145,949
61,421
£57,156
£55,157
£68,179
242,016 £def49,086
574,477
£756,122
£754,609
£982,081 £1,424,824
2,179,454
857,042
467,682
778,542
2,967,836
2,830,396
1,855,729
1,202,240
753,135
899,971
3,599,884
1,915,125
2,569818
35,959
23,478
27,403
47,790
109,707
134,222
Previous
Year.
$
51,598
481,158
83,582
10,799
15,606
41,446
44,969
296,474!
239,415
Southern Boulevard. August
Sou Wisconsin Ry Co October
July
Staten Isl Midland
2,386,065 £1,905,460 £3,245,762
7,056,186 £6,974,733 £9,081,357
23,861
72,445
Current
Year.
Week or
Month.
Savannah Electric Co September
September
Seattle Electric Co
Second Avenue (Rec) August
-Net Earning sPrevious
Current
Year.
Year.
Gross Earnings
Roads.
Name of
Road.
and Surplus.
Current
Jan. 1 to latest date.
Latest Gross Earnings.
& Gulf Ry., G. & I. Ry. of
For Oct. taxes amounted to
Nov
1507
THE CHRONICLE
Dec. 3 lUlO,
24,147
160,020
Oper'n.
$
98,473
516,7571
77,066 .7191,795 *16,255
29,032 884,874 202,464
541,548*
756,377
383,171
8,338
33,221 529,718 259,880
16,81 lh218,247 181,735
7,304
1,034
7,046
h8,940
98 ft33,971
94,747
2,594
h9,177
fell ,126
40,971
*4,016
142
7,920
16,772
8,017
140,245
38,054
43,061
15,986
128,620
11,771
52,097
3,762
1,782
71,266
18,530
16,146
15,516
26,476
8,710
13,843
59
92,554
9,442
95,222
18,511
14,705
64,798
—
—
1,625
M8.879
52,399
69
/J3.376
9,227
2,804
15,223
46
5,726
—192
20,989
4,660
24,063
8,163
*2,670
10,045
40,735
permanently defaulted Is not deducted.
deducted only on “capital used in operation.
j Interest Is
.
157
12
6,919
5,965
1508
THE CHRONICLE
[Yol.
ANNUAL REPORTS.
INCOME ACCOUNT.
Annual
Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published
during the preceding month will be
given on the last Saturday of each month. This index will
include reports in the issue of the “Chronicle” in which
it is published. The latest index will be found in the issue
of Nov. 26.
The next will appear in that of Dec. 31.
xr
Total Income.
on
Preferred dividends
*
Increased 24.41%.
The returns from passenger traffic show an Increase of
or 13.19%.
The number of passengers carried Increased 5.72%,
and passengers carried one mile Increased 11.68%.
Freight carried per mile of road Increased 23.96%, while freight train
mileage Increased only 10.86%, Indicating Improved train and car loading.
Passengers carried per mile of road increased 11.68%, while passenger
train mileage Increased 4.03%.
The expenditures for maintenance of way and structures were
Increased
$83,195, or 17.97%. The Increase of $54,440 In rails, frogs, &c., Is due to
the replacement of light rail with new 80-lb. rail over the double track ex¬
tending from the Mississippi River to Hopkins, through Minneapolis,
covering 19.13 miles of single track; and for a distance of 15 miles from
Troy, S. D., eastward. There were placed in track 94,151 cross-ties.
The expenses for conducting transportation Increased
$435,416, or 28.22%.
Strikes.—On April 1 the miners n various States made a demand for an
increase in the existing rates of pay for mining coal, and their demand be¬
ing refused by the operators, the mines were closed.
The operators and
miners in Iowa came to an agreement and work was resumed
May 14 1910.
In Illinois an agreement was not reached until
Sept. 9 1910. The result¬
ing increase in cost of fuel added to operating expenses approx. $66,065.
The strike of switchmen in Minneapolis and St.
Paul, In effect Dec. 1
1909 to April 12 1910, necessitated the employment of
help at Increased
wages and extra expenses of approximately $27,500.
Taxes.—The total amount paid In taxes, account of the calendar
year
1909, was $208,086, an Increase of $21,933 or 11.78%.
Since June 30 1905
there has been an increase of $49,525, or 31.23%, In the taxes
paid yearly.
Dividend.—A dividend of 2 H% was paid on the pref.
stock during year.
Funded Debt.—There were Issued during
the year $231,000 “first and
refunding” 4% mortgage bonds, to reimburse the company for cash ex¬
pended for additions and betterments.
Equipment trust notes amounting
$142,108,
$62,831 were paid.
Improvements.—The expenditures for additions and betterments during
the fiscal year of 1910,
amounting to $358,308, were charged to capital ex¬
penditures (of which $129,393 for new rolling stock).
The double-track
line extending from the Mississippi River to
Hopkins through Minneapolis
was relaid with new 80-lb. rail,
replacing chiefly 66-lb. rail (total mileage
of single-track 19.13 miles), and 15 miles of 80-lb.
rail was laid on the 1%
grade from Troy, S. D., eastward, replacing 60-lb.
The revision of the
grade line between Morton and Winthrop, Minn., was carried to completion
and the track ballasted; 5134 miles were also ballasted with
gravel.
General Remarks.—The results of operations have not been
altogether
satisfactory.
While the operating revenue shows a substantial gain, this
has been largely offset by the Increase in
operating cost; gross revenue
showing an increase of $774,076, as against an Increase In operating ex¬
penses and taxes of $605,938; and It was only by the closest
economy that
these results were obtained.
The trouble In the coal fields resulted In a
heavy loss In freight revenue. Throughout the winter there was an un¬
precedented fall of show, in addition to the very cold weather, causing con¬
gestion and Increased cost of operation.
While operating costs during the past ten
years have been steadily in¬
creasing, rates of transportation have been gradually decreasing. The aver¬
age rate per passenger per mile In 1901 was 2.019 cents; in
1910, 1.884 cents.
The average rate per ton per mile In 1901 was
1.145 cents; In 1910, 1.050
cents.
Taxes Increased from $107,933 In 1901 to
$225,279 In 1910.
Notwithstanding substantial Increases in wages during the
just
cloSed, the labor problem Is still confronting your management.year
It Is a
question how to meet the Increased expense due to Increased
wages
and
other causes.
In Iowa and Minnesota,
by legislation the passenger rate
has been reduced since May 1 1907 to 2 cents
per mile.
Amendments of
the last Congress to the Inter-State Commerce
Act make arbitrary, save
with the approval of the Inter-State Commerce
Commission, the provisions
that a carrier shall not charge a greater
compensation for a through rate
than the aggregate of Intermediate rates.
With the railroads of the United States
earning the
their outstanding securities, the par value of which present low rate on
many conservative
experts believe to be less than the actual reproduction values of
the proper¬
ties, and with no provision for the vast additional sums
required for future
Improvements and extensions, the outlook Is not encouraging
and
the justice
of asking for increased rates ought
to be readily appreciated.
ROLLING STOCK OWNED ON JUNE 30.
Locomotives
Pass.
—Freight Equip—
Work
No.
Tractive Power
Equip.
No.
Cap. (tons) Equip
1910_
_103
2,200,680 lbs.
92
4,385
124,975
253
1909
89
1,709,276 lbs.
95
4,386
123,390
221
to
CHARACTERISTICS OF ROAD JUNE 30.
Curves.
Tangent.
Total Assents.
Total Descents.
165 miles 833 miles
10,679 ft. in 406 miles 8,801 ft. In 366 miles
Bridges,&c.(Jt.) —Ballast (Miles)
Rails (Miles)
Steel. Trestles. Grav.Cind. Soil.80-lb. 75-lb.70-lb.
66-lb.60-lb. Oth.
6,223 49,791
684
7
306
134
567
25
230
1909-10
1908-09
51
51
___
7
385
103
1
567
40
245
AVERAGE REPAIRS PER YEAR.
Per Locomotive.
Per Pass. Car. PerFr’tCar.
$2,820 19
$669 35
$35 42
2,658 58
Per Mile of Rd.
CLASSIFICATION OF FREIGHT—PRODUCTS OF
(TONS).
Agriculture. Animals.
Mines.
Forests. Man'J'rs.
Miscell.
1909-10
1,220,884
93,884
615,457
234,487
432,305
409,202
1908-09
1,005,986
95,876
580,004
190,179
190,579
516,124
1907-08
900,919
86,880
507,177
196,095
171,006
422,380
1906-07
988,070
95,847 450,442
242,937
211,922 463,642
OPERATIONS.
11909-10.
1,027
1,372,089
1907-08.
1,005
*
1906-07.
798
1,297,889
1,261,770
1,114,607
Pass, carried 1 mile
64,714,777
57,948,361
55,039,452
51,064,856
Rate per pass, per mile.
1.884 cts.
1.859 cts.
1.823 cts.
1.927 cts.
Rev. fr’t carried, tons,.
3,006,219
2,528,748
2,284,457
2.452,860
do
1 mile, tons
323,526,343 260,058,071 240,435,168 238,861,401
Rate per ton per mile
1.050 cts.
1.075 cts.
1.063 cts.
1.123 cts.
Earns, per pass. tr. mile.
$1.11
$0.99
$0.95
$1.04
Earns, per fr’t tr. mile.,
$2.80
$2.55
$2.51
$2.89
Gross earns, per mile
$4,738
$3,994
$3,750
$4,840
Tons per train mile
294.17
262.87
266.68
289.77
REVENUES, EXPENSES, &c.
Revenue-
Mall, express and miscellaneous
Total operating revenues
Expenses—
Maintenance of way and structures..
Maintenance of equipment
Transportation expenses
Traffic expenses
General
Taxes
^
;
1909-10.
$
1908-09.
$
1,219,092
3,398,309
1,076,984
2,796,606
327,990
297,725
$4,171,315
$4,945,391
546,112
588,443
462,917
572.808
1,978,324
1,542,908
122,480
144,493
146,775
158,856
225,279
3,643,789
1,301,602
*
192,244
3,037,850
1,133,465
funded debt
$1,437,947
$1,360,010
(2H%)100.000
$1,269,300
$1,366,259
(5)200,000
+$J68,647
$1,460,010
$22,063
$1,566,259
$296,959
—$106,249
—$274,896
1907-08.
$
1,003,377
2,555,133
268,005
$3,826,516
443,577
518,962
1,451,976
111,542
137,564
167,426
2,831,047
995,469
—$6,249
—100,000
BALANCE SHEET JUNE 30.
1909.
Assets—
$
Road & equlpm't
a30,618,905 29,939,584
Securs. of affiliated.
&c., companies—
Pledged
Unpledged
Cash
Securities owned..
Ag’ts & cond’rs..
Cos. & lndivid’ls..
Material & supplies
Miscell. accounts.
Unadj. fr’t claims
Dakota Constr’n Co
Deposit to purch.
-
716,678
617,600
222,400
550,700
235,286
622,655
292,688
12,093
118,749
,906,618
equipment
Other def. charges
Total
716,678
617,600
454,763
315,200
167,920
593,800
363,103
13,659
133,801
1910.
1909.
Liabilities—
$
$
Common stock
6,000,000 6,000,000
Preferred stock
4,000,000 4,000,000
Bonds
.20,468,000 20,237,000
Eq. trust notes.._
540,000
602,831
Bills payable
350,000
250,000
Vouchers & wages
281,209
455,837
Traffic, &c., bals.
125,191
119,700
Agents’ drafts
38,582
26,964
Misc. accounts
161,224
91,251
Matured int., &c_
74,508
178,118
Taxes accrued
158,235
133,764
Accrued interest..
474,606
606,277
5,031,618 Oper.
reserves
86,384
Misc. def. credits.
172,860
673,695 5-year 5% notes,
42,413
due 1911
5,000,000
Profit and loss
1,080,565
96,992
39,011,364 39,063,834
After deducting
a
Total
102,551
134,967
5,000,000
1,124,574
39,011,364 39,063,834
for accrued depreciation of
equipment, $183,-
reserve
037.—V. 91, p. 1096, 946.
Florida East Coast Ry.
(Income Account for the Fiscal Year ended June
30
Freight revenue
Passenger revenue
1910.)
$1,910,295 Transportation
$1,108,770
1,276,051 Malnt. of way
447,731
Other transportation rev.
428,509 Maintenance of equipment
484,240
Non-transportation rev..
72,579 Traffic
64,995
General expenses.
100,077
Total revenue
Net earnings
.$3,687,434
Total expenses
,..$2,205,813
..$1,481,621
Deduct—Taxes ($164,775), lnt. on 1st M. bonds
($450,000),
hire of equipment
($49,904), rentals ($5,359)
670,038
Int. on gen. M. Income bonds,
paid Nov. 1 1910 ($700,000), less
interest earned on deposits
($2,341).
697,659
Balance to profit and loss.
-V. 91, p. 1446, 589.
$113,924
North Shore Electric Co.,
Chicago.
(.Report for Fiscal Year ending Sept. 30 1910.)
President Samuel Insull wrote in substance:
Business.—The Increase in the connected business
during the past year
has been more than double that of
any previous year, and the Increase In
gross earnings has been much the largest In the
history of the
notwithstanding the fact that this year did not receive the fullcompany,
benefits
of the new properties
acquired.
Extensions.—Since the last annual report was Issued the
company has
extended Its high-tension transmission lines Into
new territory and built
additional sub-stations for use In connection
therewith, enabling the exten¬
sion of Its system to the Lake District of
Northeastern Illinois.
The entire
territory now served approximates 1,284 square miles (V.
90, p. 698).
Stock.—At a meeting on April 20 1910 an Increase of
the capital stock
was authorized from $5,000,000 to
$7,000,000, and there has since been
subscribed for and Issued new stock to the amount of
$964,000 (V. 90, p.917).
Bonds.—The bonded debt has been Increased
For the purpose of retiring its 1st M. 5s and $705,000 during the year.
to provide for further finan¬
cing over a long period of years, the company has made a “first and
mortgage" and has during the past fiscal year Issued thereunder refunding
$1,981,000
bonds, retiring therewith $1,976,000 of 1st M. bonds and
$5,000 of other
underlying liens (V. 90, p. 1105, 1175).
k
RESULTS FOR
r*i
Equivalent 16
YEARS ENDING SEPT. 30.
1908-09.
1907-08.
1909-10.
lamps
c.p.
connected end of year.
453.238
Gross earnings.
$1,386,062
Operating
Net
Interest
Depreciation
309,786
$1,005,432
907,556
expenses
600,994
$478,506
$212,324
reserve
$404,438
$190,355
75,600
80,000
Dividends
(3%)143,431
Balance, surplus
$42,751
$34,930
In 1906-07 a stock dividend of 6%,
and loss account.
A
533,619
225,061
$665,890
431,437
$281,932
$159,283
$234,453
$107,690
64,100
41,740
(a)
$150,000,
$15,846
$85,023
paid
out of profit
was
BALANCE SHEET SEPTEMBER 30.
1910.
1909.
|
on/i/o
Q
«
1906-07.
263,173
$815,551
(3)103,553 (1^)42,702
a
I
T
1910.
4 fllvildtd®
1909.
c
Plants, real est., &c. 9,414,020 7,864,2331Capital stock
4,964,000 4,000,000
Bills receivable
340,498
153,8561 Bonds
4,705,000 4,000,000
Accounts receivable
307,206
218,152| Surplus
197,651
154,900
Cash
192,350
249,1971 Accts. & bills pay’le
373,641
112,805
Stock subscriptions
Bond interest
117,500
100,000
not yet due
95,972
25,6381 Depreciation reserve
347,640
267,640
Materials on hand
235,205
104,884 1
Open accounts
120,181
19,385 1
1
Total
10,705,432 8,635,3451
Total
10,705,432 8,635,345
.
_
-.
-
1908-09.
1,027
—15,835
+ 1,436
+ 15,880
1910.
$
$531 73
Average miles operated.
Passengers carried. No,
Dr. 1.279
87.316
8,970
Consists of receipts, $172,559, less
payments, $83,807.
General Results.—The gross operating revenues for the year Increased
$774,076. or 18.56%, and are the largest In the history of the company.
Freight traffic shows an Increase of $601,703, or 21.52%. The number of
tons of revenue freight carried Increased
18.88% and the number one mile
605
Dec. (—).
+ $168,137
—971
Rentals, trackage and term’ls (net)..
President T. P. Shonts says in substance:
56,178
40,828
Sundry Interest (net), &c
Deduct—Interest
Inc. (+) or
1908-09.
$1,133,465
39,857
Dr. 17,114
*88,752
24,850
$1,301,602
Total deductions.
Balance, deficit
Minneapolis & St. Louis Railroad.
(.Report for Fiscal Year ending June 30 1910.)
1910
1909
1909-10.
.
Net operating revenue
Income from Investments.
Hire of equipment—balance
not
1910
lxxxxi.
-
Note.—In addition to the liabilities given
above, the company has taken
certain properties which are subject to
outstanding bonds and mortgage
thereon, as follows: Evanston Heating Co., $125,000; La
Grange Service
$246,000; real estate mortgages, $4,000; total, $375,000. The Interest on
bonds and mortgage loans has been treated as rental of
property, and has
included in the Item of expenses.—V. 90, p. 1175.
over
loans
Co.,
these
been
Economy Light & Power Co., Joliet, Ill.
{Report for Fiscal Year ending April 30 1910.)
President Samuel Insull, in the report
presented June 6
but only now at hand, said:
The business has shown a substantial growth
during the year.
In Oct. 1909 the Supreme Court of Illinois handed down an
opinion con¬
firming the decision of Judge Mack In the lower court, and in
every respect
upholding the claims of the company as to ownership of water-power rights
in the Desplalnes River at Dresden Heights.
In Dec. 1909 the U. S. Govt, began suit In the Federal
Court against the
company on the ground in general that the Desplalnes Rives is a
navigable
stream and that, therefore, the company cannot
lawfully construct a dam
at Dresden Heights.
This suit is still pending, and while the
counsel anticipate that no different conclusion will be reached company’s
In It tha
that which was arrived at in the State court
proceedings, It has not bee
deemed expedient to proceed with the water-power
development at Dresde t
Deo. 3
decided. [Compare V. 87, p. 42;
making possible the purchase of
Heights until the suit has been definitely
V. 89, p. 1143; V. 90. p. 979.—Ed.]
P The Increase In the steam plant capacity
substantial amounts of current have been completed.
INCOME ACCOUNT.
1909-10.
1908-09.
1907-08.
1906-07.
Equivalent 16 c. p. lamps
connected end of year— 266,220
191,014
167,340
^406,746
217,654
-*18?'2?o
75,742
$310,402
138,739
$276,881
119,892
131,684
$230,882
$171,663
$156,989
$121,970
65,325
64,146
40,234
$113,350
$106,338
$92,843
$81,736
Gross earnings
Expenses
Net
Bond Interest
Surplus
BALANCE SHEET
1909.
1910.
108,912
Total
—V. 91, p.
Assets—
Cash
Real estate
Unfinished bldgs.
Mortgages
$
j Liabilities—
§
4,632,2811Common stock
3,000,000
13.2121 First mtge. bonds... 1,546,000
15,0521 Accts.&bills pay.,&c. 39,062
43,5111 Acer. lnt. & rentals. 41,424
20,183
9,0491 Surplus.
413,076
.5,039,562
.5,039,562 4,713,105| Total
...
Total
—V. 91. p.
3,000,000
1,367,000
13,542
32,837
299,726
4,713,105
May 1 TO. Oct. 30 ’09
S
Liabilities—
S
Preferred stock
2,000 ,000 2,000,000
Real estate, bldg3.,
,000
5,000,000
stock
5,000
Common
steamboats, tugs,
Booth Fish. Co. debs. 1,500 ,000 1,500.000
machinery, fishing
Midland C. Stor. Co.
747
2,377.426
equipment. &c..*2.573,
200.000
bonds.a
200 ,000
251.615
Investments
285 576
175,000
Mer.C.Stor.Co.bds.6. 150 ,000
24 000
Mortgages
el5 ,000
16,500
441 280
257 550
408,186
105,564
4,802,982
Total
9,563,830 9,405,251
additional equipment, &c., $423,710,
Items acquired from the receiver but
not required in the business, $49,707, and depreciation or reserves set aside from
profits for the year, $197,661. a St. Paul plant. 6 Detroit plant, c Mortgage on
Cleveland real estate taken over with property.—V. 91, p. 1449.
After adding expenditures during year for
and deducting proceeds from the sale of various
*
Realty Associates of Brooklyn,
{Report for Fiscal Year ending Oct.
The directors report as of Nov. 28 1910:
N. 7.
31 1910.)
General Results.—The net earnings, after payment to the profit-sharers
of $17,357, amount to $341,549.
to
In addition $73,229 has
the reserve on mortgages owned.
A dividend of 3% out of earnings
this year was paid In July.
The executive
mend the declaration of the regular semi-annual dividend of 3% In January,
and that no extra dividend be paid at that time.
The company has
8 X% on the stock, but It Is the purpose of the directors to pay extra
dends only when the company has
afford to disburse the money.
been added
for
committee has voted to recom¬
earned
divi¬
had unusual prosperity and can well
Operations.—The company has bought during the year properties costing
$991,289, consisting of 6 dwellings. 45 flat properties, 16 store and flat
properties and 4 plots of lots.
It has constructed 2 store and flat buildings,
l mercantile building and 60 dwellings, beside completlng‘48 dwellings com¬
menced the preceding year.
Forty of these dwellings were completed
Just at the close of the year. All of the completed dwellings and several of
the year on
properties,8 store
The total expended during
those finishing have been sold.
building construction was $458,030.
The total sales for the year were 78 dwellings, 2 flat
and flat properties, 1 store property and 20 plots
lots at an
of
aggregate
land at Rockaway Beach of the Neponslt Realty
Co., In which Realty Associates holds a controlling Interest, was Inter¬
rupted by the claim of the United States Government that It owned the
There was no basis for this claim and the Government was practi¬
land.
cally forced to admit It.
On the Neponslt Co. providing land for the life¬
saving station, a decree was entered by the U. S.Court that the United States
did not, and never had, owned any part of Rockaway Beach, and the work
sales price of $1,383,039.
The Improvement of the
of development has been resumed (V. 91, p. 468).
The company has Invested during the year $163,580 In mortgages.
standing mortgage obligations guaranteed by the company now
to $320,290, as against $669,790 last year at the same time.
Interest and Installments now In arrears on Investment mortgages
to $172, on purchase money mortgages to $4,585 and on
gages to $864.
There are 2 foreclosures pending of mortgages
Out¬
amount
amount
guaranteed mort¬
amounting
to $28,300.
Status.—The Improved property Is now 93.8% rented.
On Oct. 31
1909 92% of the Improved property was rented.
Real estate costing
$303,157 Is held free and clear. The company has $1,666,879 In mortgages
with $209,204 reserve to cover losses, as against $1,236,856 with $135,975
reserve Oct. 31 1909.
During the year much attention has been paid towards Improving the
Income of the company’s holdings.
New leases have been made at sub¬
stantial advances.
Some unproductive property has been exchanged for
productive property and 3 plots have been Improved and rented. It Is the
aim of your officers to Increase the regular Income so that from that Income
alone 6% dividends can be paid, making extra distributions from time
to time from
operating profits.
STATEMENT FOR YEARS ENDING OCT. 31.
1907-08.
1908-09.
1909-10.
$
$
$
470,221
524,399
596,059
Receipts from rents
75,132
69,588
70,710
lnt. on bonds & mtges._
229,837
217,605
154,361
Profits on sales of real est.
79,280
76,563
67,661
Dlvs., commissions. &c_
1906-07.
$
450,553
98,471
452,282
54,684
888,791
888,155
854,470
1,055,990
261,152
196,930
71,803
219,891
162,226
60,902
197,715
188,891
131,870
62,230
Deprec’n of real estate.
Dlvs. (see note below) .(7%>279,993
Amt.res.for profit-sharers
17,357
(6)239,994
(8)319.992
Total receipts
Deduct—
Real est. exp., less ch’gd
to capital for better’ts
lnt. on bonds & mtges..
General expenses
_
137,485
60,020
(8)319,989
37,603
82,662
720,616
167,539
761,547
92,923
785,642
Note.—The dividends for the years 1907-08 and 1906-07
semi-annual distributions of 3% each and an extra 2% paid
Include two
Total deductions
827,235
61,556
270,348
Oct. 15 next
succeeding fiscal year; and for the year 1909-10 two distributions of 3%
each and an extra 1% paid In Jan. 1910.
The regular 3%, but no extra
distribution, has been declared, payable Jan. 1 1911.
See text above.
concentrator [of the Steptoe
and stock, $1,000,000;
total, $4,800,stock, bonds
by subscrip¬
tion, stock In the Steptoe Valley Smelting & Mining Co., $400,000, making
a total Increase In its investments of $5,630,000.
Bonds.—During the year the bonds outstanding Sept. 30 1909 have been
retired, either by conversion or purchase, and the mortgage securing the
issue was canceled on June 9 1910.
Stock.—Under authority extended at the annual meeting Nov. 2 1909,
whereby the capital stock was Increased 400,000 shares for the purpose of
acquiring the Cumberland-Ely Copper Co. by exchanging one share of the
Nevada Consolidated for 3
shares of the Cumberland-Ely, your company
received 99)4% of said Cumberland-Ely stock, and on Aug. 30 1910 ac¬
quired the entire physical property by corporate purchase.
Surplus Account—Reserve.—The net profit for the year was $3,580,787;
the dividends paid were $2,982,644, leaving a surplus of $598,142. Monthly
statements of profits having been figured at 12 M cts., there was accumulated
in addition to the foregoing surplus, the sum of $51,199, which was kept as
a reserve to provide for any difference below 12 H cents In the selling price
of copper on nand and in transit to the refinery during the past few months,
and this is still left as a reserve.
We closed the fiscal year with undivided
profits of $2,557,062 and with a surplus and quick assets amounting to
$2,633,617.
In order to afford a clearer view of the value Of the company's
holdings, the board has credited property account charging surplus account
$684,255. representing the initial cost of 3,421,275 tons of ore extracted
from the property to Sept. 30 1910.
Steptoe Company.—Since your company Is now the owner of all the capital
stock of the Steptoe Valley Smelting & Mining Co., we Include a statement
of the assets, Ac., of that company.
AU the surplus earnings of said com¬
pany are declared as dividends.
During the year the Steptoe company set
aside for depreciation out of earnings $394,628, bringing the depreciation
property:
Nevada Northern Ry. bonds, $500,000,
stock in Steptoe Valley Smelting & Mining Co,, $3,300,000;
000.
In addition, your company received, in exchange for
of the Nevada Northern Ry. Co. amounting to $430,000, and,
up to $495,195. Change in Fiscal Year.—It has been considered
to
date of the fiscal year from Sept. 30 to Dec. 31 and the annual
meeting to the third Friday in April.
Control by Utah Copper Co.—During the current year the
Co. secured and now holds a controlling Interest in the capital stock
reserve
change the
stockholders'
Utah Copper
of your
company, and henceforth their mutual relations will be closer than they
have been in the past.
The two companies were pioneers in the mining,
smelting and refining of low-grade copper deposits, never previously worked
advisable
because never before deemed payable,
served to create a new, vast and very
and their unparalleled success has
profitable Industry.
Condensed Extracts from Report of Consulting Engineer
New York, Oct. 24 1910:
Pope Yeatman
Prospecting.—Considerable prospecting by means of churn drills has
been carried out during the past year: 85 holes were drilled, amounting with
some re-drilling of old holes to 24,146 feet.
The total number of holes to
51.755 feet.
Increased, but this has been
principally due to the determination of greater depth of ore but of lower
grade than the upper portion of the deposit and the development of ore on
the Hecla connecting the Liberty and Copper Flat sections.
The Copper
Flat and Liberty areas were but slightly Increased.
Ore now Developed {Tons) and Estimated Assay Value.
1909 estimate (tons)
80,073,000 of 1.991% Cu
Developed during 1909-10: Eureka, 4,572,400
(1.48%); Liberty, 2,418,255 (1.32%); Hecla,
date is 173, with a total distance drilled of
The ore reserves have been considerably
Cu
44,573,555 of 1.761% Cu
14,500,555 of 1.28%
7,509.900 (1.15%)
Tons developed
Mined to date.
to date
3,421,275 of 2.153% Cu
Unpayable on account of slopes
791,457
Cu
average
40,360,823 of 1.70%
Total ore reserves to date
Results for Fiscal Year.—Tons of ore treated (dry), 2,237,028:
copper assay, 2.06%; percentage of extraction (Cu), 69.59%;
centration, 10.6 to 1; assay value in gold (ozs.), .0181; assay value
(ozs.), .0879; percentage of extraction, gold, 49.78%,-and
ratio of con¬
in silver
silver, 48.36%;
average gold and silver recovered per ton of ore in cents, 21.14c.; average
copper In concentrates, 15.21%.
The above shows a slight reduction In
extraction over the preceding year, due mainly to the fact that the average
grade of ore is less and that more copper In the form of chalcopyrite has been
treated.
The yield from all ore mined and concentrated and from sllicious carbon¬
ate ore delivered to the smelter has amounted to 62,772,342 lbs. of copper,
and blister copper amounting to 60,513.009 lbs. of refined copper were
shipped. The total cost per lb. of copper has been 7.37 cts., and, deducting
miscellaneous earnings, but including fund to cover improvements ana
depreciation, this is reduced to 7.05 cts. These costs Include all possible
charges, such as costs in Nevada, shipping, refining, marketing, legal ex¬
penses, taxes. New York expenses, &c.
Conclusions.—The second year of operations has most satisfactorily
proved the success of both mine and reduction plant. You are again to be
congratulated on the increase in the ore reserves, which, although of lower
grade than have previously been developed, are nevertheless of very great
value.
6,000
40.334
Bal., surplus for year
Improvements.—By Improvements in the
Valley Smelting & Mining Co.—Ed.] the capacity of the smelter has been
increased to 8,000 tons, and during four month, i. e., from April to July In¬
clusive, the average dally tonnage treated approximated that figure.
The Nevada Northern Ry. is now preparing, by adding to Its equipment
high-power locomotives and 100 new cars, to handle for us economically
and efficiently a daily tonnage of even 10,000 tons.
Property.—The increase in the property account represents the cost of
the Cumberland-Ely Copper Co. property, exclusive of Its investments and
quick assets, less $684,255 written off to surplus to cover ore extracted to
Sept. 30 1910.
The increase in Investments represents the following stocks
and bonds purchased at the time of buying the Cumberland-Ely Copper Co.
accr.
9,563,830 9,405,251
Total
bond lnt. and
res’ve for taxes,&c
Profit and loss
.11,428,734 10,065,910
Total
468.
gating 14,500.555 tons.
payable, lncl.
Accts.
135,975
555,935
1,000,000
{Report for Fiscal Year ended Sept. 30 1910.)
Phillips Jr., N. Y., Oct. 26 1910, wrote:
'
772,746
243,943
11,423,734 10.065.910 |
37,603
mort¬
a period of only
ground for the Steptoe plant; yet during
lbs. of refined cop¬
lb.,
including the funds set aside for im¬
provements and depreciation 7.05 cts.
It accomplished this in the face
of a winter of exceptional severity, when mining operations were at times
seriously impeded and considerable trouble was experienced In handling
frozen ore.
Under more propitious conditions in July, 7,000,000 lbs. of
copper were produced at an indicated net cost of about 6 cts. a lb.
The
addition to the ore reserves of payable ore has been remarkable, amounting
to an increase for the year of nearly 50%, the new tonnage developed aggre¬
May 1 10. Oct. 30 ’09
$
$
956,538
Reserve on
4,000,000
4,015,806
235,000
67,988
17,604
209,204
gages owned
617,491
20,319 Undivided profits.
1,000,000
32,460 Surplus
22,101
37.538
-
4,000,000
Capital stock
Mortgages payable 4,986,783
.Notes
505,000
Accrued exp. (est.)
80,595
12,303
Sundry accounts..
Reserved for profitsharers
17,358
General Results.—The history of the enterprise embraces
3 Vi years from the first breaking of
the late fiscal year your company produced 62,772,342
per at a net cost of 6.42 cts. per
or
{Financial Statement as of May 1 1910.)
sheet shows net profits of $257,550 for the
period of 49 weeks ending April 30 1910, after providing for
depreciation and interest on bonds. See remarks of Presi¬
dent Lett as to recent earnings in last week’s “Chronicle” on
page 1449.
BALANCE SHEET.
Inventories (Includ.
deferred charges). 723,838
Accts. & bills rec.,
after provdllng for
doubtful accounts. 666,202
651,737
Cash
Good will
4,638,730
570,764
99,401
6,345
31,205
139,873
7,695.519
218,256
1,236,856
559,295
114,583
5,903
42,845
Pres. Jas.
The balance
Long-term bills rec
1,666,879
Liabilities—
$
1909.
8
1910.
$
1909.
Nevada Consolidated Copper Co.
Co.
Booth Fisheries
155,823
_
In advance
Sundry accounts.
1449.
Assets—
70,336
8,768,341
Stocks, bonds, &c.
Real est. contracts
Due from tenants.
Int. due & accrued
Taxes, &c., paid
1909.
S
1910.
Plant.real estate,&c_4,869,438
Material on hand ..
15,918
Equalization account
10,112
Accts & bills recelv.
123,911
Cash
BALANCE SHEET OCT. 31.
1910.
$
APRIL 30.
|
S
jA.8S€ts~~~m“
1509
THE CHRONICLE
1910.]
EARNINGS AND EXPENSES YEAR ENDING SEPT. 30 1910.
Milling
$1,379,647
Copper produced (62,772,342
1,327,447
lbs.<a 12.75c.)
$8,008,146 Smelting
Gold and sliver produced
472,983 Rent of Steptoe plant (Includ¬
ing proportion of deprecia’n) 1,039.762
Total revenue
Operating Expenses—
Mining, lncl. portion of strip¬
ping expense
Freight on ore
(s
$8,481,129 Freight and refining
Selling commission
$721,487
600,967
Total expenses
984,767
81,690
$8,136,747
1510
THE CHRONICLE
INCOME ACCOUNT.
Net operating profit
Dividends on Investments
Interest, rentals, &c., received
Total Income
Interest on bonds
Maintenance Cumberland-Ely.
Dividends (30%)..
Total deductions
1908-09.
1909-10.
$1,646,062
582,987
7,612
$2,345,382
1,223,435
40,490
$2,236,661
$174,791
$3,609,307
$26,999
1,522
2,982,644
$174,791
$2,061,870
Balance, surplus
$3,011,165
$598,142
BALANCE SHEET SEPT. 30.
1910.
$
Assets—
Cost of mines, less
extinguishment. 5,473,890
Equip. & develop.
760,362
Investments
ol0,900,000
Deferred chges.&._ 1,179,112
Stock
reserved to
convert Nev.Con.
In transit
Cash
1,500
163,344
270,909
2,929,909
219,477
Total
1910.*33^ 1909.
Liabilities—
Capital stock
3,580,649 Bonds
625,661 Stock reserved for
5,270,000
Nev.Nor.Ry.bds
740,784 Accounts payable.
Unpaid treatment
metals
& profit
on securities sold
on
andNev.No.Ry.bds
Material & supplies
Accts. collectible.
Metals on hand &
3,644,500 Premium
100,503
376,633 Metal price
2,449,791
256,101
$
$
9,977,735
500
8,000,000
2,784,500
431,073
430,000
257,784
520,448
414,450
•*x*w*!
8,360,486
51,199
3,073,479
Undivided profits. 2,557,062
2,084,409
reserve
?
21,898,503 17,044,622
time 80% of all of the stock is held
who are actively engaged in
Total
of 1% per
quarter were resumed March 1 1910.
Sinking Fund.—Sufficient bonds have been canceled to
satisfy the sink¬
ing fund requirements until July 1 1913. In addition
to this, $359,000 in
bonds of company, including investment of
reserves, are held in treasury.
PROFIT AND LOSS ACCOUNT FOR YEAR
ENDING SEPT. 30.
Net profits after
deducting expenses
($340,717 In year 1909-10) for all
ordinary repairs and maintenance,
which cover depreciation of
plants.
Ganada Cycle & Motor Go., Ltd.'
(Report for Fiscal Year ending July 31 1910.)
The report, signed by J. N.
Shenstone, President, and
T. A, Russell, Secretary and General
Manager, and presented
at the annual meeting on Oct. 28, says in substance:
Business.—We have marketed more bicycles In Canada
during the year
than In any season during the past five years.
While our Australian busi¬
ness did not enjoy any Increase
during the same period, our volume there
has continued on a par with other years.
During the season we placed on
the market a motor cycle, and while our volume in this is
naturally small
for the year past, we feel justified in laying plans for a
considerable increase
in this branch for next year.
Our skate business showed a slight improve¬
ment in volume and we look forward to still further growth.
The motor business shows a very marked increase, our
output of cars
being 60% in excess of the year preceding. Broadly speaking, we manu¬
facture two types of cars, one with the Knight motor and the other
with
the valve type of motor.
It is the opinion of your board that in the control
of the Knight motor we have secured an asset of
great value.
Your board
has had under consideration the question of making a
smaller, cheaper type
of car, but up to date our facilities have been taxed to the
utmost to turn
out our present models.
Additions.—During the year the factory has been operated to Its utmost
capacity; the automobile machine shop has been rhnning with day and night
shifts during practically the whole year.
We have considered it advisable
for the coming season to expend about $100,000 in the
addition of a newup-to-date, well-lighted building for automobile work and in
large pur¬
chases of extra machinery.
General Results.—We have made full provision for all
necessary contin¬
gencies, the accounts and bills receivable are shown after
making full de¬
duction for all bad and doubtful
accounts, and
we have provided for
any
After the provisions and de¬
a net profit of
The
$144,351.
balance carried forward from last season’s business was
$35,036, making
the balance of profit and loss account $179,387.
In view of the
expanding
nature of the motor business in Canada and the
requirements of our busi¬
ness in the way of new buildings and increased
plant, your directors recom¬
mend that no dividend be paid and that the
profits of the year be carried
forward in
depreciation in our machinery and plant.
ductions above, the year’s business shows
profit and loss account.
PROFIT AND LOSS ACCO UNT.
1909-10.
1908-09.
Profits for year
Previous surplus.'
$144,351
1907-08.
1906-07.
35,036
$30,191
4,845
def.$48,799
53,644
$21,239
32,405
Total surplus
$179,387
$35,036
$4,845
$53,644
$32,405
1910.
1909.
1905-06.
$32,405
pacity and efficiency of the works.
Charged off for deprec’n of mining, &c.
Charged off for depletion of clay, coal
1910.
1909.
bldgs.,
equipment, &c. a$425,980
Cash
15,319
Accts. & bills rec.
488,136
Stock on hand.
6620,394
Patents, trade mks.,
good-will, &c
262,968
Total
Liabilities—
Capital stock
$414,466 Accts.
and
bills
22,225
payable, unsec’d
350,153 Contingent accts..
417,527 Plant reserve
Profit and loss.
265,233
$1,812,797 $1,469,604
Total
...
$800,000
Total deductions
Net profits
Interest on bonds
Dividend on preferred stock (6%)__
Dividend on common stock (1H%)
..
790,189
16,118
27,103
179,387
588,418
16,170
29,979
35,036
$1,812,797 $1,469,604
Includes real estate and buildings (after
deducting encumbrance on retail prem¬
ises, $3,000), $193,438; machinery, tools, patterns, furniture and
fixtures, $350,679,
less depreciation, $118,137.
6 Includes bicycles, motor
vehicles, parts, accessories
and skates. $261,652; stock manufactured and In
process, raw materials and sup¬
plies, $336,967, and insurance, duty, freight, stationery and
office supplies, $21
775.
V.
a
77,
p.
2341.
-
....
Harbison-Walker Refractories Co.,
ggdaB&iafaliaii
Pittsburgh.
(Report for Fiscal Year ending Sept. 30 1910.)
Pres. H. W. Croft, Pittsburgh, Nov. 9
1910, says in brief:
General Results.—The eighth annual statement
herewith submitted
although the best in the history of the company, is not as
favorable as we
had hoped it would be.
On account of the falling off in
business, only 73%
of the normal capacity of the works was used.
The gross business, how¬
ever, was greater by reason of the increased
percentage of high-grade work,
as explained below.
New Plants Used.—A part of the accumulated
surplus has been
building new plants, all of which are now manufacturing at minimumused in
The increased demand for silica brick in the
costs
Chicago district has
doubling the capacity of the East Chicago Works (newly built injustified
1907),
making the total capacity 80,000 silica brick per day. The
capacity of
the Birmingham plant, completed only one
year ago, is also being increased
from 40,000 to 70,000 brick per day, to
accommodate the growing demand
for brick in that district.
Sales Policy.—The aggressive sales policy
adopted several years ago,
of going after the small consumers, has been
continued.
The company
now has on its books 8,000 customers,
scattered over the United States
Canada and Mexico, a much larger
percentage than ever of its output going
to such consumers.
The business is consequently
on a more substantial
basis by reason of the larger number of
customers and diversified interests.
High-Grade Work.—The proportion of difficult,
high-class
fire clay and
silica shapes—that is. brick other than standard
sizes—has increased several
per cent over the previous year, the average
selling price per 1,000 of our
output by reason of this increased proportion
vious year, although base prices were, on the being higher than the pre¬
These dif¬
ficult shapes require an expensive organizationaverage, lower.
and equipment and several
times the capital investment required for
standard sizes.
Wanes.—The wages of employees at all works and
mines were increased
from May 1 1910 on an average of 8%.
Stock Holdings.-—On Sept. 30 1903 the
officers and directors were owners
of 75% of the preferred and
80% of the common stock.
At the
present
1907-08.
$2,073,341
$1,526,879
$1,148,406
122,708
59,359
95,764
38,049
38.504
23,527
16,473
16,799
$205,595
$1,867,746
$150,286
$1,376,593
$133,038
$1,015,368
$88,875
576,000
270,000
$119,187
575,379
$127,937
575,615
$932,871
$682,027
$311,816
77,735
ANCE SHEET SEPT. 30.
1910.
Assets—
$
Prop, and Iran, of
constituent cos.28,599,397
1909.
$
28,716,152
Bet’m’ts completed 1,147,700
1,136,196
Bet’ts uncomplet’d
497,551
238,809
Deferred charges to
future operations x298,608
288,786
Inventory at cost. 1,590,759 1,577,317
Cash
565,437
566,526
Accts. receivable, yl,407,082
y1,227,864
Bills receivable...
24,106
33,009
Invest, of reserves
222,000
182,000
Co. bonds purch. &
held In treasury.
137,000
267,000
Other securities
235,399
247,390
1910.
1909.
Liabilities—
$
$
Bonds
zl,565,000 2,265,000
Common stock
18,000,000 18,000,000
Preferred stock
9,600,000 9,600,000
Int. & taxes accr’d
26,842
50,897
Depletion fund...
141,696
125,706
Pay-rolls
96,711
209,270
.
Accounts payable.
Premium on bonds
Sundry
Surplus
reserves..
.
62,099
302,608
9,131
213,620
3,851,989
3,015
297,645
4,784,860
..
34,481,050
Total
34,725,039 34,481,050
Includes clay, coal and ganlster outfits,
$237,614, advanced royalties, stripping,
prospecting, uncompleted extraordinary repairs, &c.
y Accounts of constituent
companies against each other omitted,
z Total Issue,
$3,500,000, less purchased
and canceled for sinking fund,
$1,935,000.—V. 90, p. 505.
x
Morris &
Company (Packers), Chicago, Ill.
(Official Statement of Oct. 15 1910.)
The company on Oct. 15 furnished
substantially the fol¬
lowing information to the N. Y. Stock Exchange in con.
nection with the listing of
$12,300,000 1st M. sinking fund
4^% gold bonds (compare bond offering, V. 89, p. 48, 107):
Incorporated
laws
Maine Oct. 16 1903.
Auth. capital stock
$3,000,000, in shares of $100 each, all common, fully
paid and without
personal liability.
The company succeeded by purchase the
packing busi¬
ness of Nelson Morris & Co.
(originally organized by the late Nelson Morris
In 1859) and Fairbank Canning Co.
These bonds are part of an authorized issue of
$25,000,000, secured by
mortgages or deeds of trust to the First Trust &
Savings Bank and Emile
K. Boisot, of Chicago, and the Mercantile Trust
Co. of St. Louis, as
trustees,
dated July 1 1909 and maturing July 1 1939, but redeemable
at the option
of the company on any semi-annual Interest
day
at 103 and int. on 4 weeks’
notice [either for the sinking fund—see below—or
The proceeds of said $12,300,000 bonds were used otherwise.—Ed.].
to pay the current in¬
debtedness and provide for necessary
extensions, additions and improve¬
ments; $200,000 additional bonds have been purchased for the
sinking fund
and canceled.
The remainder of the bonds,
$12,500,000, can be certified
only for additional fixed assets, such as real estate, buildings,
machinery,
fixtures and apparatus, at 75% of actual cost.
under
Properties
$800,000
1908-09.
and ganlster
properties
BALANCE SHEET JULY 31.
Assets—
Real estate,
1909-10.
Extraordinary expenses, being repairs,
improvements, &c., Increasing ca¬
21,898,503 17,044,622
Investments Include in 1910 Nevada Northern Ry. stock,
$2,000,000, and 5%
bonds, $1,000,000, and Steptoe Valiev S. & M. Co. stock, $7,900,000.
6 Represents cost of opening up pits, shafts,
stripping, tracks, shovels,' &c.—
V. 91, p. 521,280.
by directors, officers and employees
on
M
a
LXXXXI
some department of the business.
common stock at the rate of H
Dividends.—Dividends
Deduct—
1909.
$
(VOL.
of
on Which Said Bonds Are a First Mortgage, All to Be
(Additional to All After-Acquired
Packing Houses, Refineries, &c.—
(а) Chicago, at Union Stock Yards
(б) East St. Louis, at National Stock Yards.
(c) Kansas City, Kan
(d) St. Joseph, Mo
(e) Oklahoma City, Okla
Fully Insured.
Property.)
Land,
Daily Killing
Acres. Cattle. Sheep.
_
.
_
_
_
42.9
26.4
19.5
19.2
20.9
2,500
1,500
1,500
1,000
1,500
3,500
2,000
1,500
1,000
1,000
Hogs.
5,000
5,000
5,000
5,000
5,000
Total
[supplied by Editor]
128.9
8,000
9,000
25,000
Ice Houses—(a) On Calumet Lake, Chic
Capacity (Tons)—
13.3\
(6) Fox Lake, County of Lake, Ill
13.9J
140,000
Leaseholds—From the Union Stock Yards and other rights on a
tract
containing 9.6 acres, in Chicago, adjoining the Union Stock Yards, on
which are located the car shops.
All of the above-mentioned real estate is free and clear of
any other mtge.
For a sinking fund the company will on
July 1 1910, and annually there¬
after on July 1 of each year, deposit with the trustee an amount
of cash or
canceled bonds at par, equal to and which in no one year shall
be less than
1.6% of the aggregate amount of bonds theretofore certified and
delivered,
not including any bonds paid or canceled; and said
sinking fund deposit
shall not in any year be less than $200,000.
All bonds purchased or drawn
for the sinking fund shall be canceled.
The mortgages also provide (a) that the net quick assets of the
company
shall at all times equal or exceed the aggregate amount of the bonds
out¬
standing; (b) that the company will not allow to exist any other mortgage
lien upon any of the property;
(c) that no dividends have been or will
hereafter be made, save out of the earnings, to the end that the
surplus of
Oct. 31 1908, mentioned in the mortgages, may be not
impaired by such
payment while any of the bonds are outstanding; (d) that the
will annually, within 60 days after its fiscal year, cause an audit ofcompany
its busi¬
ness to be made, and deliver a copy to the trustee; (e)
that in case of default
in payment of principal or of 90 days’ default in
payment of interest or
sinking fund, or In the performance of other covenants, the trustees may,
and upon request of a majority of bondholders shall, declare the
outstanding
bonds due and payable.
INCOME ACCOUNT FOR THE YEAR ENDING OCT. 30
ELEVEN MONTHS ENDING OCT. 1 1910.
Net profits on manufactures
Miscellaneous earnings
and sales..
Total income
Deduct—Interest on borrowed money
Interest on bonds
Administrative expenses
Taxes, insurance, &c
Net earnings
Less—Dividends paid
Discount and expenses of bond issue
-
Balance,
surplus
1909 AND
Year
11 Mos.
1908-09.
1909-10.
$3,544,988
$2,907,190
159,014
87,616
$3,704,002
$501,245
$2,994,806
$159,670
187,500
593.670
350,248
515,625
616,690
300,320
$1,632,663
$2,071,339
$450,000
937,500
$1,592,305
$1,402,501
$345,000
$1,387,500
$345,000
$683,839
$1,057,501
Dec. 3
1511
THE CHRONICLE
1910.]
GENERAL BALANCE
SHEET AS OF OCT. 1 1910.
Liabilities ($47,577,082)—
($47,577,082)—
$3,000,000
Packing house real estate. $497,839 Capital stock
12,300,000
do bldgs., mach’y. &c._ 9,414,166 Bonds
3,777,284
Branch markets, bldgs.,&c 2,449,939 Bills payable
payable
2,835,482
Car equipment
1,554,680 Accounts
Bond
Interest
accrued
140,625
Cash...:.
3,234,201
Reserve for deprec., &c__ 3,553,763
Products and supplies
13,880,089
Marketable investments._ 2,389,317 Surplus to Oct. 31 1908_.20,228,588
Accts. & bills receivable-.14,156,852 Surplus since Oct. 31 1908 1,741,340
It has been the policy of the company to carry lands, buildings, machin¬
ery, &c. (while deducting a proper yearly depreciation) at the original cost.
Some of the land having been acquired as far back as 1868, a present re¬
valuation of this fixed property would amount to a sum In excess of the
Assets
adequate or obsolete. It was necessary to issue a new batch of bonds to cover
a new plant, while the old plant was on the book's at practically Its original
value.
Capital remained apparently unimpaired. The
bondholders
sooner or later owned the road, and upon reorganization were obliged In
the Interest of the property to eliminate In whole or In part the original
stockholders.
The Public Service Commission law recognizes this amor¬
tization principle, and “yet the State Tax Commission is Insistent that no
reasonable basis exists for the creation of an amortization fund.”
Increase
creased by
of Wages.—The company has voluntarily in¬
5% the wages of all motormen, conductors and
guards employed on its elevated and surface lines, effective
Jan. 1.
This will, it is stated, add about $$300,000 yearly
i;o the pay-roll.
There was a similar increase on April 1 last.
present bonded debt.
Directors: Ira N. Morris, L. H. Heymann, Charles E. Davis, Henry M.
—V. 91, p. 516, 529.
Wolf, Edward Morris (Pres, and Treas.), Thos. E. Wilson (Vice-Pres. and
Canadian Northern Branch Lines Co.—New Company.—
Asst. Sec.), C. M. Macfarlane (Sec. and Asst. Treas.).
The annual meeting
is held on the 2d Wednesday in June at Portland, Me.
The fiscal year ends Gerard Ruel, solicitor, Toronto, gives notice that application
on the Saturday nearest the last day of October.
The registrars of the
will be made to the Parliament of Canada, at its next session,
bonds are the Bankers’ Trust Co., New York City, and the First Trust &
Savings Bank in Chicago.—V. 91, p. 1163.
for an Act incorporating a company under this name, as a
United States Bobbin & Shuttle Co.
subsidiary no doubt of the Canadian Northern Ry. Co.,
with power to construct the following lines of railway:
{Balance Sheet of Oct. 12 1910.)
,
1910.
Assets—
1909.
Insurance fund
110,414
$357,329
353,241
416,025
102,509
110,414
Patent rights
Good-will
650
659,800
659,800
$331,606
372,194
Material & suppl’s
339,414
Cash&debts receiv.
202,257
Real estate.
Machinery
Total
-V. 91, P.
u
„,
_
„
,
Liabilities—
1910.
1909.
Capital stock
$1,651,000 $1,651,000
Accounts payable.
17,627
Reserve for insur¬
110,414
ance
110,414
220,412
254,920
Surplus
$2,016,335 $1,999,453
Total
219.
GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING ELECTRIC ROADS.
American Railways Co.,
Philadelphia.—Re-exchange
of
dated Feb. 15 1909.—The com¬
has agreed with the holders of a large majority of the
43^% Convertible Gold Bonds,
pany
point between Davidson and Aylesbury; (h) from a point between Brancepeth and Klnistlno, northeasterly to or near Pas Mission; (t) from line (d) In
or near Tp. 40, Rge. 7, W. 2 M., westerly to or near Jack Fish Lake, north¬
west of No. Battleford; (j) Moose Jaw northwesterly to the Canadian Northern
Ry. between Camrose and Stettler; (fc) International boundary northerly
and easterly to a point near or west of Battleford; (1) Macleod northeasterly
to Saskatoon-Calgary line of Canadian Northern Ry. In or near Ranges 1 to
4, W. 4 M; (m, n and o) from points on the Maryfleld-Lethbridge line of the
Canadian Northern Ry. westerly via Cardston to or near Pincher, north¬
westerly via Taber to a junction with line (1) and northwesterly to a point
in or near Tps. 20 to 23, Rge. 6 W. 5 M.; (p) Lloydmlnster northwesterly
and westerly to Bruderheim; (q) Edmonton & Slave Lake Ry. north of
Morlnville to a point In or near Tp. 56, Rge. 8, W. 5 M.; (r) Fort Pitt
northwesterly to the Athabasca River.
With power to acquire and navigate vessels, wharves, elevators and other
facilities, to generate and use electrical and other energy, and to dispose of
the surplus thereof; to construct and operate telegraph and telephone lines
and to charge tolls for the use thereof; also fixing the amount and nature of
securities to be Issued with respect to the lines authorized; also authorizing
amalgamation with other companies and the guaranty and holding of
securities and shares of any company; with power to construct, acquire
and manage hotels, restaurants and parks, and to authorize the Issue of
securities on properties other than railways.
a
135
$2,016,335 $1,999,453
(a) Grosse Isle, Man., northerly to Grand Rapids, with a branch to
Sturgeon Bay; (5) Wassewa, westerly and northerly to or near Ethelbert;
(c) Yorkton northerly to or near Hudson Bay Junction; (d) Craven north¬
easterly to or near Hudson Bay Junction; (e) Craven easterly to Rossburn
branch of the Canadian Northern Ry. east of Yorkton; (J) Craven northerly
through or near Humboldt to or near Prince Albert; (g) llne(d) westerly to
above-mentioned bonds (amounting, it is said, to some $850,000—Ed.) to re-deliver the Inter-State Ry. collateral trust.
4% gold bonds received by it, with the coupon due Feb. 1
1910 and all subsequent coupons attached thereto in ex¬
change for the said bonds of the Am. Railways Co., with the
Subsidiaries.—The
maturing July 1 1910 attached thereto in the pro¬
portion of Inter-State bonds of the face value of $1,000 for
each $500 of the bonds of the Am. Railways Co.
Canadian Northern Ry.—Supposed
Canadian Northern Branch Lines Co. is
The Am. Railways Co. further offers to all holders of its bonds Issued In
exchange for bonds of said Inter-State Company the right to make such
exchange on or before Dec. 15 1910 at its office, 904-917 Witherspoon Bldg.,
Philadelphia, upon said terms.
Holders of said bonds of the Am. Railways
$1,000,000 of authorized stock, In $100 shares.
Incorporators: Reginald
Herbert, Montague Temple, Archibald James Reid, Robert Phipps Ormsby,
Alfred James Mitchell and John Bissland Robertson, all of Toronto.—V. 91,
coupon
Co. upon which payment of the coupon due July 11910 has
repay In cash the face value thereof at time
exchange.
when made shall constitute a complete release of any and all
of
been made must
This exchange
claims by either
party against the other.
See also Inter-State Railways below and In
V. 91, p. 1446.
In the last report attention is called to the fact that there
Is omitted from the balance sheet of June 30 1910 all reference to the afore¬
said convertible bonds and the Inter-State 4s securing the same.—V. 91,
p.
789. 1445.
Algoma Central & Hudson Bay Ry.—Legislation.—Notice
given that application will be made to the Parliament of
Canada, at the next session thereof, for an Act—
(a) To extend the time for the commencement and completion of the
is
railway from the Canadian Pacific Ry. northward to James Bay; (ft) to con¬
firm the conversion of 50.000 shares of the capital stock from common stock
Into 5% non-cum. pref. stock (compare V. 90, p. 1105); (c) to authorize
the construction of a railway from a point on the main line at or near Mile 17
Michlplcoten Harbor northerly about 9H miles.—V. 91, p. 1327.
Ann Arbor RR.—Detroit Toledo & Ironton Loses Control.—
See that company below.—V. 91, p. 1383, 945.
from
Atlantic
Shore Line (Electric) Ry., Maine.—Sold.—At
on Dec. 1 the property was bid in by the re¬
foreclosure sale
organization committee for $115,000. See V. 91, p. 869,
1159, 1253.
&
Bay of Quinte Ry.—Proposed Agreements.—Notice is given
that application will be made to the Canadian Parliament at
its next session for an Act authorizing the company to enter
into agreements with the Canadian Northern Ontario Ry.
and the Ontario & Ottawa Ry.
(See bond offering, V. 74,
p. 150.)—V. 84, p. 157; V. 74, p. 150.
Boston Railroad Holding Co.—$20,012,000 Pref. Stock in
Place of Debentures.—The Mass. RR. Comm, on Nov. 26
gave approval to the plan for issuing not exceeding $20,012,000 4% cum. pref. stock at par ($100 a share), in order
to retire the same amount of debenture bonds dated Nov. 1
The entire issue of pref. stock will be subject to .call
1909.
at any time at 110 and accrued dividend and will also have
“the privileges, priorities, restrictions, qualifications and
limitations provided in Chapter 639 of the Acts of 1910.”
Said debenture bonds upon exchange shall be canceled and
destroyed. (Compare V. 91, p. 1612.)—V. 91, p. 945.
Tax Re¬
Boeuf on
Brooklyn Rapid Transit Co.—Special Franchise
duced—Obsolescence Allowed for.—Justice Le
Nov. 25 reduced the valuation for 1905 of the
of Tax Commissioners for special franchise
State Board
taxes from
$1,365,842 to $334,538.
The Court allows a reduction In addition to ordinary wear and tear
“obsolescence or Inadequacy of railway equipment not yet sustained
for
but
capable of reasonable ascertainment for the future.”
Machinery or equip¬
ment, while still capable of years of service, It is stated, becomes Inadequate
to do the work demanded, not only by the corporation, but by the law
Itself, In electrical machinery especially the type becom ng obsolete by
Invention and Increasing public demands which frequently require that the
obsolete appliance or equipment give way to renewal.
Many of them, It Is
held, may be provided against for the future by setting aside from gross
earnings a reasonable amount to create a reserve against the day when
they shall come, this reserve, with the amounts set apart for ordinary
depreciation, going to amortize the capital of the company In a manner
similar to the amortization of securities of trustees, money
and manufac¬
turing corporations.
The Court says the wrecks of many public service corporations scattered
throughout the State would not to-day be seen If this principle had been
applied to their accounting,and that formerly, after original paid-in capital
and original bond Issues had regularly paid their dividends and Interest out
of earnings, and the plant had depreciated or become In whole or In part In¬
mentioned above.
The Canadian Northern Railway Express Co., Ltd., head office Toronto,
Incorporated on Nov. 18 under the Canadian Companies Act with
was
p.
1322. 1253.
C.) Electric Ry., Light & Power Co.—Sold.—
SeejjSouthern Power Co. under “Industrials”.—V.88, p. 1252.
^.Chicago Consolidated Traction Co.—Sold.—At the Chanc¬
ery sale on Nov. 30 the properties were bid in by R. W. Cooke,
Chairman of the reorganization committee, the only bidder,
for $1,425,000.
A Chicago paper said:
Charlotte (N.
It was learned that besides the consolidated bonds of the Yerkes
and the Harrity-Foreman committee, Mr. Cooke has acquired all but
estate
about
Some 25 scattered holders accepted his offer
A statement of the bonds held by Mr. Cooke
follows:
Urban Transit Co., all but $20,000 of total Issue of $1,097,000;
North Ch. El., entire issue of $868,000; Evanston El., all but $16,000 out
of $130,000; North Side El., entire Issue of $155,000; Ch. North Shore, all
but $35,000 out of $675,000; Ogden Street Ry., all but $45,000 out of
$750,000; Cicero & Proviso, all but $50,000out of $2,000,000; Ch. Consoli¬
dated Issue, all but about $200,000 out of $6,750,000. See V. 91, p. 1384.
$200,000 of the entire Issue.
of $300 for each $1,000 bond.
Detroit & Mackinac Ry.—First
Dividend
on
Common Stock.
23dj% has been declared on the $2,000,000 common stock, along with the regular semi-annual
dividend of 23^% on the $950,000 pref. stock, both payable
Jan. 3 to holders of record on Dec. 15.—V.91, p. 1160,1247.
Detroit Toledo & Ironton Ry.—No Longer Controls Ann
Arbor.—By the sale of the $3,001,000 preferred and $2,190,000 common stock, forming part of the collateral for the
5% notes of 1905, the company, it should be noted, lost its
—An initial dividend of
control of the Ann Arbor RR.
by the Court, It will give the Ramsay committee di¬
Ramsay was some
firm filed a formal
an
the
litigation
protest, announce
intention to carry
pending
attacking the
validity of the purchase of the Ann Arbor stock and the pledge of the $5,000,000 under the notes to the United States Supreme Court.
Suit, It Is stated, has been brought to recover the $220,000 loan of the
Anri Arbor to the Det. Tol. & I. referred to In the annual report of the
latter (V. 91, p. 1383)
tor
If the sale Is confirmed
rect control of the Ann Arbor stock, of which road Mr.
time ago elected President. F. J. Lisman & Co., whose
Foreclosure of General Lien and Divisional Mortgage.—The
New York Trust Co., as mortgage trustee, as a preliminary
to foreclosure, has declared due the principal and interest of
the general and divisional 4% mortgage, under
which
$4,253,000 bonds are outstanding.—V. 91, p. 1446, 383.
Erie RR.—Notes Extended.—An issue of $5,000,000 short¬
term notes due Dec. 1 has been extended, but for what
period is not made public.
The notes are secured by Erie & Jersey RR. bonds.
They have been
held In block and are not In the hands of the public.—V. 91, p. 1029, 102Q.-*a
Ry.—President Resigns.—President
Eppes has resigned, effective Jan. 1. A press report
states that the vacancy will be filled by Captain W. B. Den¬
ham, President of Tampa Northern Ry.—V. 81, p. 1848.
Greenville (S. C.) Traction Co.—See Southern Power Co.
Gainesville Midland
E. B.
under “Industrials” below.
Indianapolis Union Ry.—Favorable Decision.—Judge RemMarion County, Ind., Circuit Court, on Sept. 7,
sustained the demurrer of defendants in the action brought
by a former State Prosecuting Attorney to annul the charters
of the Indianapolis Union Ry. and the Belt RR. & Stockyards
Co. on the ground that by the 999-year lease of the latter's
railway to the Union Company, dated Oct. 1 1882, the law
had been violated.
The present Prosecutor states he has
ster in the
1512
THE CHRONICLE
X
4
[VOL.
'
i
i
taken no part in the
appeal will be taken.
case
and does not know whether
an
Judge Remster says the matter Is one fraught with so much
consequence
that he does not think a single
judge in a lower court should attempt to annul
the charters of the
companies, especially since the arrangement between
them has existed for over a
quarter of a century and a consideration of the
matter by several judges in a
higher court, on appeal, would be more
satisfactory and probably fairer. The Court pointed out that there was
a line of authorities
making a distinction between belt or servient roads
and trunk lines, and that
probably the decision in the Eel River and
Wabash case, holding that one road cannot lease to
intersecting and com¬
peting carriers its property in perpetuity, thus surrendering control of its
property and falling to perform its public functions, does not apply In this
case.
The Stockyards Company built the road and for a time carried
on both
the railroad and stockyards business, but later leased the
railway to the
Union Company, then just organized.—V. 83,
p. 213.
.
Interstate
,
Railways, Philadelphia.—Readjustment Plan.—
The company's financial plan was
unanimously ratified at a
meeting held on Nov. 25, at which 19,906 shares out of a
total issue of 23,004 were
represented. An advertisement
in the “Phila. Press" of Dec. 2
gives substantially the fol¬
lowing particulars:
.
LXXXXI.
the Empire Trust
Co., 42 Broadway, on or before Jan. 5
under agreement of Dec. 1:
Charles I. Henry, of H. S.
Henry & Son; Newman Erb, Chairman Ann
Arbor
RR.-Co.; Harmon
W. Hendricks, of Hendricks
Brothers, 49 Cliff
Wollman, counsel, and Robert G. Starr, 20 Broad St.,
St.,
Secretary, all of N. Y City. Compare V. 91, p. 154,1447; V.
90, p. 1363.
with
Wollman
&
North Carolina Public Service
ending Sept. 30 1910:
Gross
months
earnings
Operating
Co.—Earnings.—For
$207,293 Net earnings
123,442 Interest and taxes
expenses
12
$83,851
46,355
Net earnings
$83,851
Balance, surplus
$37,496
Gross earnings include $175,378
from the Greensboro
properties (light
$81,727; railway, $65,069, and gas, $28,582) and
$31,915 from
the High Point
properties (light and power, $27,899, and
railway, $4,016)
—V. 88, p. 1128.
and power,
Northern Central Ry.—Suit to Restrain
Lease.—The
Waters minority stockholders'
committee on Nov. 29 filed in
the United States Circuit Court
at Philadelphia a suit to
prevent the proposed 999-year lease of the
Northern Central
on the
ground of violation of the anti-trust laws.
It is contended that the
Pennsylvania RR. secured control of a majority
of
The underlying companies were
£ stock °* the Northern Central, Philadelphia Wilmington & Baltimore
j
arranged Into four groups or local sys¬
and
Columbia & Port Deposit railroads,
tems and leases of all have been consummated
all operating on parallel lines, for
upon satisfactory terms, the
the purpose of
lessees assuming all the liabilities and the lessors (Interstate
preventing competition in the transportation of commerce.—
Rys. Co. and
V. 91, p. 1254, 1161.
United Power & Transportation Co.—Ed.) being assured of
a fixed Income
affording an adequate return to the holders of their securities and capital
Northern Ohio Traction &
stock, respectively.
In consummating these leases, the lessor companies
Bonds.—The
agreed to provide for their floating debt to the dates of the several leases,
it is learned, have approved the sale
which, in the aggregate, including certain current obligations of the Un. P.
of some of the
bonds on account of new
& Transp. Co., amount to about $555,000.
In addition, there are unpaid
and car
barns at Akron and such other
coupons of the Interstate bonds [$10,776,604 4 percents] for the
year 1910,
as may
and others will mature in 1911.
made in ekeess of
To provide for the payment of these current
obligations, which will ulti¬
Guaranteed Bonds
mately devolve upon the Interstate Rys. Co., the shareholders have author¬
Power House.—The com¬
ized an issue of $1,000,000 of Interstate
Rys. fixed 6% cumulative pref.
pany,
it
is
is
stock in $10 shares (the par value of common shares is
to organize the Northern
$100) .without voting
Ohio Power
power in the election of directors, but with preference as to assets as well
with
as
stock, to build a
dividends.
The first semi-annual dividend “to be due and
000
power station at the gorge
payable on July 1
above
1911, and said pref. stock shall be redeemed at par three
and
will
years
from
date
guarantee its 1st M.
of original Issue, or any dividend
of which
day thereafter, whenever the Interstate
will be
Rys. Co. shall have funds In hand over and above Its fixed
authorized
and
charges and ad¬
issued in the next 1
ministration expenses.”
It is further provided that the pref. stock shall
years.
The “Cincinnati Tribune" of Nov. 27 said:
“be retired at par by payments at any dividend
periods of not less than $1
It Is calculated that this move will
per share out of the said rentals, after the payment of
save $100,000 per
taxes, Interest on the
year, which will
United Railways 4s and Interstate
more than pay the Interest on
Rys. 4s and the administration ex¬
the Indebtedness.
The bonds of the power
house company are to be subject to call at
penses; such payments to be made and the entire issue of
the option of the Northern
be
pref.
stock
to
Ohio
redeemed and retired before any dividend is declared or
paid on the common Traction & Light Co. any time after 1919 at 105.—V. 91, p. 519.
stock of Interstate Rys. Co. and all such
payments to be endorsed on the
Oakland
certificate Issued for pref. stock.”
*
Bonds.
The Interstate bondholders are Invited to subscribe
—The shareholders will vote Dec. 31
for the pref. stock
at par and to pay their subscription
upon
a new
by the surrender of the four coupons
bonded
debt to the amount of $250,000 in
due on Feb. 1 and Aug. 1 In 1910 and 1911.
The stockholders are invited
coin of the
to subscribe for the pref. stock and to
United
pay their subscriptions in cash as
the purpose of
follows: 20% Dec. 1 1910; 20 Jan. 1 1911;
stock.
Said bonds are to be additional to the
20% Feb. 1 1911; 20% Mch. 1
$12,000,000 bonds issued and
1911 and 20% April 1 1911.
Issuable under the general mortgage
of
1907.
“It is not proposed, for the present, to
The directors Include:
pay
E. A. Heron, Dennis
Searles, C. P. Murdock,
Those bondholders who exchange their couponsany of the coupons in cash.
S. J. Taylor, F. C. Havens,
for pref. stock will receive
George E. Pratt and Arnold E. Needham.
a security paying 6% Interest for their
—V. 91. p. 1331, 464.
coupons, upon which no Interest
will be
directors,
4%
Light Co.—Sale of Treasury
shops
improvements
surplus earnings.
Proposed
for
announced,
planning
Co.,
$3,000,000 capital
h.p.
just
bonds,
probably $1,000,000
be
25,-
Akron,
$3,000,000
y2
(Cal.) Traction Co.—$250,000 Equipment
creating
gold
States, for
purchasing rolling
paid. Those bondholders who do not so exchange their
coupons
for pref. stock must wait until the
company has sufficient funds accumu¬
lated to pay the overdue coupons.”
The plan is contingent upon the Interstate
bondholders subscribing on
or before Dec. 31 for not less than
$400,000 of the $1,000,000 pref. stock,
payable In cash and coupons; also upon shareholders
at par,
payable in cash, for not less than “$500,000, to be usedsubscribing
in the payment of
said Indebtedness, so that the same shall In no
way Interfere with or prevent
the payment of the coupon due on Feb. 1 1912 out of
the rentals accruing
upon the said leases.”
(See also Am. Railways above.)
Earnings Derived from Rentals of Leased Systems Jor Calendar
Years.
[The leases took effect: Wilkes-Barre, Jan. 1 1910;
Reading,
1 1910;
April
Wilmington, July 1 1910: Trenton, Oct. 15 1910, and the
rentals. It Is
understood, are payable annually on those
days.—Ed.]
Wilkes-Barre.
Reading.
Wilmington.
Trenton.
Total.
1911
$360,000
370,000
$263,000
281,250
296,250
$155,000
$80,520
$858,520
162,500
83,020
896,770
370,000
167,500
86,041
919,791
380,000
300,000
172,500
91,041
943,541
380,000
300,000
177,500
96,041
953,541
390,000
300,000
182,500
101,041
973,541
390,000
300,000
187,500
106.041
983,541
400,000
300,000
192,500
111,041
1,003,541
400,000
300,000
197,500
116.041
1,013,541
400.000
300,000
202,500
121,041
1,023,541
400.000
300,000
207,500
126,041
1,033,541
400,000
300,000
212,500
131,041
1,043,541
400.000
300,000
217,500
136,041
1,053,541
400,000
300,000
222.500
141,041
1,063,541
1925-..400,000
300,000
225,000
146,041
1,071,041
1926
400,000
300,000
225,000
1,50.000
1,075,000
Taxes and fixed charges in detail are as
follows:
XJn. Pow. & Transp. Co.—
Interstate
Interest on United Rys. 4s.$316,720 Interest on Railways Co.—
Interstate Rail¬
Int. on Delaware Co. Ry. 4s
39,956
ways 4s
.$431,064
Taxes
3,296 Taxes
2,300
___
1912
1913--_1914
1915.-.1916
1917
1918
1919
1920
1921
1922
1923
1924
___
___
...
___
...
___
$359,972
Total charges both companies
Subscriptions for the pref. stock
$433,364
$793,337
up to yesterday ag¬
gregated $728,000.—V. 91, p. 1446/
Long Island RR.—16% Increase.—The number of com¬
muters for November is stated as
10,653,
with
9,196 in November 1909, being an increasecontrasting
of nearly 16%.
—V. 91, p. 463.
Lorain Ashland & Southern
RR.—Consolidation.—Under
this title there have been consolidated
the Industrial RR.
Co. of Lorain and the Lorain & Ashland
RR. Co. (V. 85,
p. 1462).
The capital stock is $250,000. A new
mortgage
will be drawn, the bonds now out
being
Directors: Pres., Joseph Ramsey Jr., N. Y. only
City; Pres, and Treas
N. P. Ramsey, Dayton; Sec., F. A.
Walsh, Ashland, O.; G. P. Rust. Cleve¬
land; J. W. Patterson, Pittsburgh.
temporary.
.
Louisville & Nashville RR.—Bonds
($63,000) Pensacola
Called.—Sixty-three
& Atlantic RR. 6%
mortgage bonds
have been drawn for payment at 110 and
interest on Feb. 1
at the
company's office, 71
p.
1025.
Broadway, New York.—V.
91
Metropolitan Street Ry., New York .—Extension
of Time
Refused.—The Public Service Commission
yesterday denied
the application to extend
from Dec. 5 to Jan. 1 the time to
put into effect the joint rate with the Central Park
North &
East River RR. ordered on
Aug. 2 last.—V. 91, p. 1386.
Middletown Unionville & Water
Gap RR.—Notice to 2d
M. Bondholders.—Default
having occurred in the payment
of the $250,000 2d M.
bonds, due June 1 1910, the following
protective committees will receive deposits of said
bonds at
Oregon RR. & Navigation Co.—To Vote on Sale and Dis¬
solution.—The shareholders will vote Dec. 22 on
authorizing
(1) the sale of the property to the
& Navigation Co.—see below—and Oregon-Washington RR.
(2) the dissolution of the
Oregon RR. & Navigation Co. See also Union Pacific RR.
below.—V. 91, p. 1447.
Oregon Short Line RR.—Neiy Mortgage.—The sharehold¬
at a special
meeting held at Salt Lake on Wednesday
authorized a $150,000,000
mortgage on the property, in¬
cluding all branches constructed under the Harriman regime.
ers
None of the new bonds will be issued at
present.
Pacific RR. below.—V. 91, p.
1026, 871.
See Union
Oregon-Washington Railroad & Navigation Co.—Con¬
solidation-Further Particulars.—An official statement
re¬
garding this
new company is given below under “Union Pa¬
The lines in operation under construction
and pro¬
jected that will compose the new company, it is
said,
em¬
brace a total of 3,474 miles, of which
2,462 are in operation
or under construction.
The lines which, along with the Ore. RR. &
Nav. Co.
(see p. 100 of “Ry. & Ind." Section), the new
company
will
absorb are described by J. P.
Gen. Man. of the
O'Brien,
Union Pacific interests in the Pacific
Northwest, as follows
cific.
(approximate mileage supplied by Ed.):
Lines in Operation {in Addition to Ore. RR. & Nav.
Co.)—No. Miles Owned.
Oregon & Washington RR. Co.—Operates between Portland
and
Seattle (186.7 miles) and owns parts of the line so
operated, and also
owns constructed line from Centralla to
Hoquiam, Wash-(?)
Columbia River & Oregon Central RR. Co., Arlington to
Condon, Ore__ 45
Columbia Southern Ry. Co., Biggs to Shanlko, Ore
69
Ilwaco RR. Co., Megler to Nahcotta (3-ft.
gauge)
29
Lake Creek & Coeur d’Alene RR., Lake
June., wash.,to Lake Point,Ida. 14
Oregon Washington & Idaho RR. Co., Rlparla, Wash., to Lewiston,
Ida. (with operating rights Lewiston to
Grangevllle, Ida.)
72
Spokane Union Depot Co. (terminals used by Oregon RR. &
Naviga¬
tion Co. in Spokane)..
1-3
Snake River Valley Co., Wallula to Grange
City, Wash
66
Umatilla Central Ry. Co., near Pendleton to Pilot
Rock,
Ore
14
Idaho Northern Ry. Co., Enaville to near
Murray, Ida
30
Northwestern RR. Co., along Snake River north from
Huntington,Ore. 38
Malheur Valley Ry. Co., Ontario to Vafe, Ore
_
14
Line
Nearly Completed.
The Deschutes RR. Co. owns a line
nearly completed from the Colum¬
bia River along the Deschutes River to Redmond.
The North Coast RR. Co. owns a line nearly
completed from Attalla,
near Wallula, Wash., to North Yakima,
Wash.; also owns terminals in
Spokane and has partially constructed some of the other lines mentioned
in the articles as owned by it. (V. 88,
p. 686; V.89, p.994; V. 90, p.698.)
Oregon Eastern Ry. Co.—Organized some years ago for the
constructing lines In Central Oregon.
Has made surveys andpurpose of
rights of way from Vale to Odell, Odell to Natron on the Southernacquired
Pacific,
and from Bend to the Californla-Oregon State line.
The Oregon-.Wash,
RR. & Nav. Co. proposes to take over that part of the
line covering the
territory from Vale to Odell and from Bend to the Californla-Oregon
State
line.
The Oregon Eastern will for the present continue
to construct the
line across the Cascade Mountains from Natron to
Klamath.
Shortly stated, the new company is organized to take over all of the
prop¬
erty of the Oregon RR. & Nav. Co. and Its auxiliary
companies, In order
that the properties may be financed as a whole.
The new company will
place a mortgage upon the entire property which will be a 2nd M.
upon the
property of the Oregon RR. & Nav. Co. and a 1st M.
upon the property of
each of the auxiliaries.—V. 91, p. 1447.
Passaic & New York RR.—Extension
of Bonds at 5%.—
Holders of the $70,000 1st M. 6% bonds dated 1885 and
due
Dec. 1 1910 are offered an extension of the
same to Dec. 1
1940, with interest at 5% per annum, payable J. & D.,in
City, the present security to remain unimpaired.
N. Y.
Baa 3
holders.of such bonds who deposit
with J. P. Morgan & Co.,
and who make a cash payment
The Dec. 1 1910 coupon will be
buy at 100 and lnt. at any time
the bonds of holders who do not desire the extension.
by the N. Y. Sus. & Western under 999-year lease.
The extension offer applies
only to the
the same, together with the Dec. 1 1910 coupon,
23 Wall St
N. Y., on or before Dec. 1 1910,
at the same time of $15 per $500 bond.
cashed at time of deposit.
The firm will
,
1 1910
operated
prior to Dec
The road is
Pennsylvania
RR.—Through Service Begun Under Hudson
City and the tunnels
put in operation.
River.—On Nov. 27 the station in N. Y.
thence under the Hudson River were
Reading
Company
a running
timeasofagainst
1 hour 2andhorn's
50
Brhe
has announced
nutes
between
Philadelphia
and Liberty
St., N. Y.,
and 5 minutes by the Pennsylvania from Phlla.
The Penn RR. Co. it is expected will make the
ing.—V. 91, p. 1161, 1026.
Railway, Light & Power Oo.—Plan Ap¬
proved.—The shareholders on Nov. 28 approved the financial
plan outlined in Y. 91, p. 1328.
Porto Rico Ry.—Stock.—The shareholders voted on Nov.
23 to increase the pref. stock from $500,000 to $1,000,000.
The new stock will, it Is stated, be
record to the extent of one share for
additions.—V. 91, p. 1096.
offered at par to all shareholders of
provide for extensions and
seven, to
Corporation of New Jersey.—New Directors.
and J. H. Harding,
—H. G. Lloyd, of Drexel & Co., Phila.,
of Charles D. Barney & Co., Phila., were on Tuesday elected
to the board to fill vacancies.
Edgar B. Ward had previ¬
ously been chosen as a director to succeed the late Dr. L.
D. Ward.—V. 91, p. 946, 871.
Reading (Pa.) Transit Co.—Lease.—See Interstate Rail¬
ways above.—V. 90, p. 373, 977.
Rockford & Interurban Ry.—Earnings.—
Cal.
Fixed
Pf.Divs. Com.Divs. Bal,
Total
Net
Earns.
(4%)
Year—
' Earns.
Charges.
(6%)
Surp.
$628,411
1909
$271,780 $152,927
$3,000 $40,000 $75,853
1908
567,466
239,161
3,000
137,633
40,000
58,528
The Milwaukee
and Interest.—V.
been made with the Pacific Coast Co.
The Western Pacific
will now sell tickets in the East for points on the Pacific Coast,
north and south.
Traffic agreements have also been made
with the Atchison for interchange of business.
The business
of the new line is gradually developing.—V. 91, p. 590, 216.
Wilkes-Barre (Pa.) Ry.—Lease.—See
above.—V. 90, p. 374.
Wilmington & Philadelphia
under Lease.—See Interstate
Trust Co. is offering a block of the 1st
89, p. 226
M. 5% bonds at 98
Phelps, Dodge & Co. interests, which last July acquired
through Kuhn, Loeb & Co. a large block of stock previously
owned by the Pearson-Farquhar syndicate, were elected
directors to succeed F. S. Pearson, Percival Farquhar and
A. J. Miller was also elected to the board,
E. D. Kenna.
succeeding E. G. Boissevain to represent Dutch holders.
Mr. McLean was elected to the finance committee and Mr. James was
named director and member of the executive committee of the Chicago
Rock Island & Pacific Railway Co., succeeding Mr. Kenna.—V. 91, p.
1153, 1096.
& Pacific Oo.—New Coal Mines.
Construction work for the opening of two additional coal-mining
the company’s property is now actively In progress; one
these
located at Sugarite, near the city of Raton, N. M., will be
plants
mines,
operated for
high-grade domestic coal, exclusively, while the other, located at Gardiner,
is Intended for the production of steam coal.
In addition to these new
camps, preparations are being completed looking to the building of a large
new plant In Potato Canyon.
When completed, the company's coal out¬
put capacity will be Increased by 1,250,000 tons per annum.
[See also
“Earnings Department” on a preceding page.]—V. 91, p. 1244.
Salisbury & Spencer Ry.—Sale.—See Southern Power
Co. under “Industrials” below.—V. 82, p. 1380.
of
on
Spokane & Inland (Electric) RR.—Earnings.—
Gross
Year
Ending—
July 31
1910
June 30 1909
—V. 91, p. 946.
Earnings.
$1,707,453
1,269,101
Expenses
& Taxes.
Traction Co.—Payments due
Railways above.—Y. 91, p. 40,
INDUSTRIAL, GAS AND MISCELLANEOUS.
Amalgamated Asbestos Corporation.—New Director.—
R. M. Aitkin, of Messrs. Kitcat & Aitkin, London, has been
elected a director to represent large English interests.
Fiscal Year.—The directors have voted to change the
end of the fiscal year from May 31 to Dec. 31.—V. 91,
p. 277, 1027.
American Coal Products Co., New York.—Serial Gold
Notes Sold.—Kidder, Peabody & Co., New York and Bos¬
ton, have placedat prices to yield 6% income, the authorized
issue of $1,500,000 5% serial gold coupon notes, dated Dec. 1
1910 and due Dec. 1 yearly 1911 to 1914, viz.: $250,000 in
1911, also in 1912, and $500,000 in 1913 and again in 1914,
but callable at par on any int. period on 30 days’ notice.
Guaranty Trust Co. of N. Y., trustee. Int. J. & D.
Rock Island Company.—New Directors—Phelps, Dodge &
Co. Represented.—On Nov. 28 James Douglas, James Mc¬
Lean and Arthur Curtis James, all representatives of the
St. Louis Rocky Mountain
—The managers announce:
Interstate Railways
to Cortlandt St., N. Y.
same time as the Read¬
Portland (Ore.)
Public Service
1513
THE CHRONICLE
lSlO.j
Net
Earnings.
$1,162,909 $544,544
882,152
386,949
Bond
Interest.
$246,325
234,700
Balance
Surplus.
$298,219
152,249
Letter from Vice-President William H. Childs, New York, Nov. 28 1910.
The Am. Coal Products Co. owns and operates, through subsidiary com¬
panies,about 30 plants engaged In the manufacture of coal products, such
tar, ammonia, &c. (including roofing felts—Ed.)
The notes are Issued under an Indenture which provides that the net
quick assets of the company shall at all times be equal to at least 150% of
the par value of the outstanding notes, as shown in the following:
Combined Balance Sheet July 1 1910 of Company and its Subsidiaries.
Liabilities ($18,784,539)—
Assets ($18,784,539) —
Plant and equipment
$8,771,580 Capital stock ($100 shs.) .$10,418,400
Shares in cos. not contr’d
177,147 Bonds of sub. cos. out.. £2,877,000
3,363,295 Minority shares (book
Contracts, &c
value) not owned by
Cash
261,211
Am.C.P.Co. In sub. cos
553,201
Accounts and bills receiv¬
Accts.
and bills payable.
3,062,513
able
3,608,758
and
Bond
mortgage
140,000
Merchandise inventories2,173,022
421,009
384,475 Reserves
Stks.&bonds (market val)
1,312,417
Prepaid charges
45,051 Surplus
as
x
Includes, it Is supposed,
The Indenture also
$2,354,000 5s of Barrett Mfg. Co.—Ed.
provides that no liens of any kind shall
hereafter be
placed upon any of the assets of Its subsidiary companies until these notes
are paid, and that no assets of the parent company shall be mortgaged
or pledged unless these notes are equally secured.
Net Earnings Available for Dividends after All Charges, including Interest.
1910 (est.)
1909.
1908. *
1907.
1906.
1905.
1904.
$1,400,000 $1,285,173 9$40,409 $1,520,262 $1,301,598 $904,270 $1,033,631
Since Its formation In 1903 the company has paid dividends on Its capital
stock at the rate of 5 H% per annum to January 1910, when the stock was
placed on a 6% basis. The earnings for the last 8 years have averaged
over 16 times the Interest charges, and for 1910 will probably be 19 times
the amount required for.the Interest on these notes.
N. J. (V. 76, p. 867)
& Gas Co. (V. 73, p. 1365;
Mfg. Co. (V. 68,
by-product coke-oven Inter¬
by the United Coke & Gas Co., to the Oberschleslsche
[The company was Incorporated in February 1903 in
and purchased all of the stock of the
Coke
V. 80, p. 1239) and nearly all the stock of the Barrett
p. 1074). On Jan. 1 1909 the company sold its
United
ests, represented
Kokswerke & Chemische Fabrlken Aktlen Gesellschaft of Berlin (capital
stock then 18,500,000 marks, dividend rate 11%), which organized a new
corporation known as the German-American Coke & Gas Co. (auth.
stock, $2,000,000, now paid up,
(?>
to take over the by-product
coke oven and other patents, comprising the Otto-Hoffman and the UnitedOtto system of construction.
The American Coal Products Co. has an In¬
terest in the new. company.
See further particulars in “Iron Age” of New
York for Dec. 17 1908.
The Barrett Mfg. Co. has $5,000,000 stock, of
capital
$4,774,600 is reported outstanding; 5s $2,500,000
$2,354,000, due 1939, callable.—Ed.]—V. 89„ p. 1669.
which
auth.; Issued
Directors—Proposed
Springfield (Mass.) Street Ry.—To Absorb Springfield & Readjustment.—Chas. F. Pope and Thomas J. Norton Jr. were
Eastern.—The Mass. RR. Comm, on Nov. 26 sanctioned an elected directors at the annual meeting on Nov. 23 to succeed
increase in the capital stock by not exceeding $900,000 in ex¬ Charles Warren, who resigned, and W. T. Jenney, deceased.
change, share for share, for the outstanding shares of the Shares voted 29,865 out of 37,500 issued, those dissatisfied
refraining from voting.
Springfield & Eastern St. Ry. Co.
The Springfield & Eastern St. Ry. Co. is to transfer all Its property and
The balance sheet as of Aug. 31 1910 shows total assets of $1,457,126
franchises to the Springfield Street Ry. Co., which Is to assume
standing Indebtedness.—V. 91, p. 277.
all out¬
Street Ry.—Lease.—See Interstate Rail¬
above.—V. 81, p. 1176.
Union Pacific RR.—Statement as to Merger of Subsidiaries.
—Referring to the incorporation of the Oregon-Washington
RR. & Navigation Co. with $50,000,000 capital stock (see
above; also last week’s issue, p. 1447), Pres. R. S. Lovett says:
The Oregon RR. & Navigation Co. mortgage, which limited the bonds
Issuable under It to $24,000,000, made no adequate provision for new lines.
Consequently branches and other extensions have been constructed from
time to time by separate corporations, so that the system in Oregon and
Washington, while operated as a unit, Is really owned by several different
companies whose stock is held by the Union Pacific.
The purpose now is to vest the title to these several pieces of road In a
single corporation and provide for further construction and expansion to
keep pace with the rapid development of the Northwest by an issue of bonds
under a mortgage that will cover an entire and compact system.
No ar¬
rangements have been made for the issue of such bonds.
We are merely
Trenton (N. J.)
ways
getting ready to deal promptly with conditions as they arise.
We are taking similar action, and for the same reasons, with respect to
the Oregon Short Line system In Utah, Idaho and Montana.—V. 91,
p. 1448, 1164.
Wabash-Pittsburgh Terminal Ry.—New Committeeman.—
Albert H. Wiggin, Vice-President of the Chase National
Bank, has been elected a member of the second mortgage
bondholders’ committee.—V. 91, p. 1386, 1255.
West End Street Ry., Boston.—Application to Sell Stock
at Auction.—The company has petitioned the Massachusetts
Railroad Commissioners for authority to sell at auction the
1,049 shares ($52,450 stock) of unsubscribed stock out of
the 27,800 shares ($1,390,000 stock) offered to the stock¬
holders in October last at $75 per share.
Compare V. 91,
p. 872, 791.
■ .
Ry.—Traffic Agreements.—Arrangements
Interchange of passenger and freight business have
Western Paeific
for
an
American Soda Fountain Co.—New
(patents and good-will, which represented $1,582,441 In previous years,
not being Included); cash on hand was $137,901, accounts receivable
$167,112, accounts payable $18,224.
Treasurer North says: “In 1908, Indebtedness amounted to more than
$1,250,000. Substantial liquidation was determined upon as the only
possible method to save the business, and this has been carried on.
In¬
debtedness Is considerably less than cash now on hand.
Operations during
the year ended Sept. 1 1910 have been carried on at a slight profit, or cer¬
tainly without substantial loss.
Unless, however, the stock Is reduced.
It would be impossible because of legal restrictions to pay dividends until
the present nominal capital is made good.
Because of this restriction It
will be necessary to reorganize the company, and directors are considering
a reorganization or readjustment based upon actual resources.
No addi¬
tional capital will be required and no call will be made upon Its stockholders
for subscriptions for any purpose.—V. 85, p. 1340.
American Steel Foundries Co.—New Officers .—George
E.
Vice-President, has been elected
of W. W. Butler, who re¬
signed, and R. H. Ripley succeeds Mr. Scott.—V. 91, p.
Scott,
formerly Third
Second Vice-President in place
1443, 947.
American Sugar Refining Co.—Government Suit Begun.—
The Government on Nov. 28 filed in the U. S. Circuit Court
in this city its petition in the
the company for alleged violation of the
Law.
The controlled and allied corporations named as de¬
fendants which it is asked be declared to have been in an un¬
lawful combination or conspiracy number 29, including
long-expected suit against
Sherman Anti-Trust
others the National Sugar Refining Co. and Cubanthe other defendants being the direc¬
companies and the executors and trus¬
tees under the will of the late President Henry O. Havemeyer.
It is claimed that the company controls about 72% of the
total output of refined sugar in the country not produced
from beets and about 70% of the total refined sugar of every
kind consumed in the country.
Extended extracts from
the petition will be given another week.
among
American Sugar Co.,
tors of the defendant
1514
THE CHRONICLE
Statement.—Gen. Counsel James M.Beck says in substance:
The company’s reply to the various
charges will be seen when Its formal
answer Is filed.
For the present It Is sufficient to recall that the
Supreme
Court has already declined In a similar
proceeding to hold that this com¬
pany was an illegal monopoly under the Sherman Law, and the Court has
.deprecated “the challenging of the Justice of their well-considered and sol¬
emn judgments.”
The company has no monopoly; It produces no raw
sugar and does not and cannot control the
price of the raw material; It has
no agreements direct or
implied with other sugar companies, and It Is sub¬
ject dally to keenest competition; It has, Including Its beet sugar Interests,
about 51% of the country’s sugar trade and It
requires a liberal stretch of
the Imagination to call this a
monopoly. It does not seek to stifle com¬
petition or oppress the consumer.
Its refinery profits last year averaged
less than one-sixth of a cent per lb.
During the last decade, when the cost
of this company’s labor and supplies have
very largely increased, It has
continued to sell sugar at a lower margin of profit than
formerly.
In 1870
the price of granulated sugar In New York was 13 H cents a
lb.; in 1880, 9.8;
In 1890, 5.32; in 1909, 4.76.
The company has over 19,000 stockholders, the
average holding of Its
stock being about 50 shares.
These Investors may be assured that, what¬
ever the outcome of this litigation
may be, this company cannot be deprived
of Its property.
It Is unfortunate, however, that business men cannot con¬
duct a legitimate business enterprise without
subjecting themselves to pro¬
ceedings under a highly technical statute about the meaning of which the
courts do not agree and about the wisdom of which most
thoughtful men
Of all classes are in serious doubt.—V. 91, p. 1387, 216.
Armstrong
shareholders
Cork
on
in the
to be
Co.,
Pittsburgh.—New
Stock.—Tlie
Nov. 30 authorized the proposed increase
capital stock. At present the auth. capital is stated
$3,500,000 common and $1,000,000 pref. See V.
91, p. 1329.
Atlas Phosphate Co.—See International
Agricultural
Corporation below in foot-note to balance sheet.
IVox..
LXXXXl
[The letter shows that In addition to the
properties previously reported
the company now owns all the stock
of the Dexter (Me.) Electric Co. and
§ ee
Tactically
entire capital
stock
of the Solon
further the
particulars
In V. 90,
p. 851.
Central Union (Bell) Telephone
Calendar
Year—
1909
1908
—V.
90,
Gross
Earnings.
$4,999,424
4,759,702
p. 1173.
(Me.) Electric Co.—Ed.]
Co.—Report.—
Operating
Net
Interest
Expenses.
Earnings.
$1,363,362
1,050,171
Charges.
$1,363,272
1,199,415
$3,636,062
3,709,531
Bal., Sur.
or
sur.
Def.
$90
def.149,244
Columbus & Hocking Coal & Iron Co.—Foreclosure Suit.—
The Central Trust
Co., as mortgage trustee, on Nov. 30 filed
in the Federal Court at
Columbus, O., a suit to foreclose the
first
mortgage of 1887.
Deposits.—There
listed on the New York Stock
Trust Co. receipts for com¬
mon
stock, of which $3,366,700 show the first installment
of $5 per share
paid. The greater part of the first and
second mtge. bonds and
pref. stock has also been deposited
under the reorganization
are
now
Exchange $6,990,800 Bankers’
plan.—V. 91, p. 1097, 1027.
Consolidation Coal Co., Baltimore.—New Stock.—The
shareholders will vote Dec. 12 on
increasing the capital stock
from $20,000,000 to
$25,000,000. Stockholders of record
Dec. 15 will be allowed to subscribe as
below stated.
Digest of Circular from Pres. C. W. Watson,
Baltimore, Nov. 28 1910.
purchased a large tract of coal land,
approximately
In Pike, Floyd, Knott and Letcher
Ky., at a price of
approximately $4,500,000, of which $4,400,000counties,
Is
payable at the option
of
«T1i^Lcompany has
100,000 acres
..
Beech Creek Coal & Coke Co.—Default Believed to Be
Temporary .—The interest due Dec. 1 on the $2,784,000 1st
M. 5s was not paid, but the delay is believed to be
temporary.
The June 1 coupon was not paid promptly, but a
protective committee
formed, and the coupon was paid within the 60-day limit allowed.
See V. 91, p. 216.
was
Bethlehem
months
Steel
Corporation.—Earnings.—For the
ending Oct. 31 1910:
ten
•‘Total Income” of the corporation and Its
subsidiaries, being the
net manufacturing profits, together with Interest on
Invest¬
ments, rents, &c
$3,351,169
Deduct interest on bonds and notes
1,394,216
Balance, surplus, for the eight months
$1,956,953
It Is expected that the net earnings for the full
year 1910, after charging
off $400,000 or $500,000 for depreciation, will be close to
£2,000,000,
or
about 13% on the $14,908,000 pref. stock.—V. 91, p.
1027. 278.
Broadway Realty Co., N. Y. City.—Bonds Offered.—
Co., New York, are offering,ata price to net about
4^%,a limited amount of 1st M. gold 5s, dated July 25 1896
and due Sept. 1 1926.
Trustee, U. S. Mtge. & Trust Co.,
N. Y. City.
Int. M. & S. Par $1,000 (c*). A circular says:
Pfaelzer &
The company owns the Bowling Green Office
Building, Nos. 5 to 11
to 11 Greenwich St., a 16-story
building of modern fire¬
proof construction.
The land covers about 29,000
sq. ft.; frontage on
Bowling Green Park, Broadway, 162 ft.
It Is stated that there is about
250,000 sq. ft. of rentable space.
The company has $1,800,000 1st M.
5% bonds, $1,200,000 2d M. 5% bonds (due June 1 1916) and
$1,000,000
capital stock (in $100 shares).
[Pres., Geo. Foster Peabody; Sec. and
Broadway and 5
Treas., Charles J. Peabody.
Office, 43 Exchange Place.]
Buffalo General Electric
10 Mos. ending
Oct. 31—
1910
1909
—V. 89, p. 289.
Gross
Earnings.
$867,526
772,298
Co.—Earnings.—
Net
Other
Income.
Interest
Paid.
$336,431
$33,107
30,759
$111,511
102,302
(after
Taxes.)
287,839
Balance,
Surplus.
$258,026
216,297
Central Colorado Power Co.—Status.—While the main
office is still at Denver, a temporary office has been
opened at
24 Broad St., N. Y. City.
It is thought in Denver that the
control of the company is
likely to pass in the near future to
the Denver Gas & Electric
Co., or the Cities Service Co.
The company’s system was described In the
“Electrical World” of New
York for Jan. 27, June 23 and 30 and
July 28 1910.
Shoshone plant No. 1,
near Glen wood, Col., was placed in
operation on May 24 1909, giving service
at first as far as Leadvllle and
Dillon, and later to Denver, a total distance
of 150 miles.
This plant has two 5,000-k.w.
three-phase 60-cycle genera¬
tors.
Further development near Glenwood
may later greatly Increase the
power available at that point.
The Boulder power plant in Boulder
Canyon
4 Yx miles west of the
city of Boulder, was formally placed In
operation
Aug. 6 1910; It also has two 5,000-k.w. generators.
This
plant,
being only
28.8 miles from Denver, with no
Intervening mountain ranges, forms an
Important auxiliary to the Shoshone plant.
The present output capacity
IS 30,000 electrical h. p.
There is no very active construction in
progress,
the plan for a plant in Gore
Canyon, Col., being in abevance. The Utah
Nevada Power Co. was Incorp. in 1907 with a view
to building such a plant.
In March last G. H.
Walbrldge and F. C. Walcott (of Bonbright & Co.)
were elected directors,
succeeding Leonard E. Curtis and Henry Hlne.
The board now Includes:
Chairman Irving W. Bonbright, Colo.
Springs;
Pres. G. H. Walbrldge and Vlce-Pres.
Bulkeley Wells, Denver; Vice-Presi¬
dents S. Z. Mitchell and F. C. Walcott,
Myron
T. Herrick, J. R. McKee,
A. C. Bedford and C. B. Willcox, all of New
York; Geo. C. See Jr., Geo. L.
Peabody and Copley Amory, all of Boston. The Sec. and Treas.
is S. C.
Moore, and Gen. Man. E. S. West, both of Denver.
A 2d mtge. was filed for record
early in the year, the Knickerbocker
Trust Co. of New York being the trustee, to secure
$1,350,000 5% 20-year
bonds of $1,000 each, to be Issued to fund the
coupons due on the outstand¬
ing $9,000,000 1st 5s from Dec. 1909 to June 1912 Incl.
Compare V. 89,
p. 996, 921.
The auth. issue under the 1st M. Is
$20,000,000. The auth.
capital stock Is $15,000,000 common (all out) and
$7,500,000
pref. ($4.500.000 out—see V. 83. p. 1592).
Central Maine Power Co.,
Earnings.—Perry, Coffin &
recently offered
1
a
Waterville, &c., Me.—Bonds—
Burr and N. W. Harris & Co.
small amount of 1st M. gold 5s, due Nov.
1939, at 98^ and int., yielding 5.10% income.
Extract of Letter from President Harvey D. Eaton Oct. 17
1910.
The present hydro-electric developments
permit the production of 6,800
h. p. for lighting and power, as well as some
direct use of water by manu¬
facturing users. This output Is augmented by reserve steam
stations, with
a rated
machinery Installation of 2,500 h. p. capacity. The riparian
rights
owned permit of the development of some
additional 25,000 h. p. as the
demand warrants.
A system of high-tension transmission
lines, about 60
miles In length, connects the five
water-power developments and enables
them to be operated In unison.
A modern water gas plant at
Augusta,
with a capacity of 288,000 cu. ft.
per day, supplies gas to Augusta and to
Hallowell, whence It Is pumped to Gardiner.
Land has been bought at
Farmlngdale on the Kennebec River at tidewater, on which a
modern
steam station now In process of
design will be built. Capital stock auth.
and Issued; common, $2,500,000;
pref.,
$500,000.
Funded
debt; 1st M.
5s of 1909, auth.,
$5,000,000; Issued, $1,100,000; reserved to retire bonds
of constituent
$400,000; total funded debt, $1,500,000.
Earnings (Including Controlled Companies).
cos.,
,
Year ending—
Aug. 31 1910__.
Dec.
31
1909...
Gross.
$237,138
218,151
OpJExp.&Tax. Net. Bond Int. Bal.,Sur.
$108,785 $128,353
$50,342 $78,011
105,492
112,659
43,925
68,734
the company In shares of Its
stock entitled only to dividends declared
after July 31 1912.
At a meeting toAlay the board
voted to recommend the Issue of addi¬
tional capital stock In the
aggregate amount of $5,000,000;
also the
sale of $974,000 of the present auth.
stock not yet Issued, the latter
amount,
together with $600,000 of the additional
be
stock,to
entitled to dividends
declared after Jan. 31 1911, and the
remainder, $4,400,000, to be entitled
to dividends declared after
July
31 1912, and that the entire
be offered to stockholders on the
$5,974,000
Stockholders of
record Dec. 15 1910 to have the following terms, viz.:
right to subscribe at par at company’s
office, Continental Bldg., Baltimore, (a) for the shares of
stock entitled to
share In dividends declared after
Jan. 31 1911 to an amount
equal to
8X% of their present holdings,
and (b) for the shares of stock
respectively,
entitled to share In dividends declared
after July 31 1912 to an amount
equal to 23 H% of their present holdings,
respectively.
Any stockholder may exercise either or both
of the subscription
above named.
Subscriptions “a” are payable 25% Jan. 16 1911, rights
25%
July 1 1911 and 50% Jan. 1 1912; or all cash [at the
at subscriber’s
option. In which case regular stock certificates willoutset]
be Issued.
Interest
will be charged on deferred
payments at 6% per ann. and dividends will be
credited In final settlement.
Subscriptions “ft” (for the deferred dividend
stock) are also payable 25% Jan. 16
1911, 25% July 1 1911 and 50%
Jan. 1 1912; but no interest will be
charged on deferred payments.
The subscription of all the shares of stock
under both the subscription
rights above stated has been underwritten.
For the purpose of developing the
100,000-acre coal field first above
referred to, the retiring of certain
underlying bonds, and to provide for
future needs, the board has arranged a
$40,000,000 “first and ref.” mort¬
gage In which provision Is made for the retirement of all
existing mortgages.
An amount not exceeding
$13,000,000 Is to be Immediately Issued, of which
$9,000,000 will be offered for sale.
Various existing underlying bonds
approximating $10,710,000 will be retired by this Issue,
New Bonds, Earnings, Ac.—The
$9,000,000 “first and re¬
funding” mtge. 5% gold bonds recently sold to Spencer
Trask & Co., William Salomon & Co. and
Kissel, Kinnicutt
& Co., all of New York
(who, it is understood, are offering
them privately) are part of an issue of
$40,000,000, which
will be
dated Dec. 1 1910 and due Dec. 1
1950, par $1,000
int. J. & D. at the Guaranty Trust Co., N.
Y.,
trustee.
Redeemable as a whole, but not in part,
on any
interest date at 107^2 and interest.
(c*&r).
Abstract of Letter from President C. W. Watson, New
York, Nov. 29 1910.
Incorp. March 9 1860 in Maryland, and owns the entire capital stock of
the Cumb. & Penn. RR„ a majority of the stock of
the Metropolitan Coal
Co. of Boston and the entire stocks of the Somerset
Coal Co. and Fairmont
Coal Co., and, (through the Fairmont Coal
Co.,) the Clarksburg Fuel Co.,
Southern Coal & Transportation Co.,
Pittsburgh & Fairmont Fuel Co., and
a majority of the stock of the North
Western Fuel Co. of St. Paul, aggre¬
gating $24,871,100 In par value.
The company has paid regular dividends
for 26 years past—-since 1905 at rate of 6%
per annum.
Bonded Debt $20,000,000 after Issue of $9,000,000 New Bonds.
Present Issue of “first and refunding mortgage” 5% bonds
$9,000,000
Prior lien bonds, to retire which $11,000,000 “1st & ref.”
bonds
are reserved (Consol. Coal Co. 1st
M. 4 3^s and ref. M. 4 Ys,
Fairmont Coal Co. 1st M. 5s and Briar Hill C. & C. Co. 1st 5s)
.11,000,000
Purposes for which Remaining “First and Refunding 5s” Are to Be Issued.
Reserved In treasury against exchange of other bonds held
by Co.$4,000,000
For further development of Elkhorn field of
100,000 acres in
Southeastern Kentucky, to be Issued at par, not exceeding
actual cost of Improvements, &c
6,000,000
In escrow, Issuable only for 75% of cost of
Improvements or addi¬
tional coal lands
10,000,000
The proceeds from sale of the present $9,000,000 “first and
ref. mtge.”
5% bonds will be used
to retire the Somerset Coal Co. 1st M. 5s at 110 and
Int.
Consol. Coal Co. (Kentucky Dlv.) 1st M. 5s, at 105 and
Int., and
other small Issues In hands of public—In all about
$6,500,000 bonds; and
for primary development work on the new tract of
100,000 acres of coking
coal lands In Southeastern Kentucky.
The “first and ref. mtge.” 5% bonds now Issued will be a first
lien upon
about 186,000 acres of coal lands or coal rights (of which 100,000 acres
have been recently acquired and will be paid for out of the additional
$5,000,000 stock just auth.), andageneral lien, subject only to $11,000,000
prior bonds, upon the balance of the property, about 114,000 acres addi¬
tional; a total of about 300,000 acres.
Tangible Assets, in Addition to Above Acreage, Aggregate $23,679,383.
Mining plant, tugs, barges, coal cars, &c. (less deprec.($2,408,116)$9,850,510
Net quick assets (cash, bills and accounts receivable, merchan¬
dise, treasury securities, &c.)
7,744,572
Securities of other companies (entire or majority Interest)
3,059,812
Net cash value of Cumb. & Penn. RR. Co. (less 1st M. bonds and
car
trusts
outstanding)
3,024,489
Sinking fund under new mortgage 2c. per ton for first 5 years on all coal
mined from the property on which these bonds are a first lien,
and 3c. per
ton thereafter.
A depreciation charge of 2 Yc. per ton on all coal mined Is
also charged direct against operation, as Is also a further
charge for depre¬
ciation of tenement houses, coking plants, &c.
8*
The Consolidation Coal Co. operates 70 bituminous coal mines, situated
In Penn., Md., W. Va. and Ky.
The tract of 100,000 acres recently ac¬
quired In Southeastern Kentucky (the “Elkhorn Field") has long been
known to contain coal of exceptional quality, but has been unavailable
through lack of railroad facilities.
Construction work Is now under way
by which the L. & N. RR. will be extended Into this field, and a connection
with the Ches. & Ohio Ry. has been arranged.
The coal In this tractMs
exceptionally well adapted for making gas In by-product ovens, both gas
and coke In by-product plants In the Iron and steel
Industry. Illuminating
gas for cities and towns, producer gas for various Industrial purposes and
locomotive fuel.
It has been estimated that the Elkhorn field contains In
excess of 800,000,000 gross tons of mining
coal, which, with the
previous
Deo. 3
1,350,000,000 gross
of 2,150,000,000
than 200 years.
America. Storage
Slants
domestic
located
Lakes and N.at H.,
England seaports.
areyards
head of Great
NewWashington,
areat
maintained
D. C.,
In Portsmouth,
Baltimore, Cincinnati, Louisville and Newport, Ky., Superior, Duluth,
Minneapolis and St. Paul.
Four sea-going tugs, 1 steamer and 18 barges
holdings of The Consolidation Coal Co., estimated at
tons, will give this company a total estimated tonnage
gross tons, or a reserve of coal sufficient to last more
Coal Is exported to Canada, Mexico and Central
are
Atlantic coast.
for Nine Months Ending Sept. 30 1910.
7,054,3061 Bond lnt., s. f., taxes, &c_$l,276,906
Earnings, &c.,
Production, gross tons
Net earnings, less deprec.$2,602,269]
Net inc., beyond charges. 1,325,363
For the 7 years ended Dec. 31 1909 the net earnings, less deprec., averaged
$3,565,000 per ann., equal to about 2H times the average requirement of
$1,485,000 for bond lnt., sinking fund, taxes, dec.; average annual produc¬
tion of coal, 7,978,240 gross tons, the output now being at rate of about
With the opening of the Elkhorn field,
Increased.
W. Watson (Pres.), J. H. Wheelwright (V.-P.), H. Craw¬
Lear Black, S. Davies Warfield, George C. Jenkins, A. B.
Watson, Wm. H. Grafflln, Wm. Winchester and S. L.
9,500,000 gross tons per annum.
the earnings should be materially
Directors.—C.
ford Black, Van
Fleming, J. E.
Watson.—V. 91. p. 1330.
1256.
Corporation.—Acquisition.—The leading
stated, have taken up the option of purchas¬
ing for $500,000 the coal-mining areas of the Cumberland
Railway & Coal Co. in the vicinity of Cdace Bay, N. S.,
and will later turn the same over to the Dominion Steel Co.
(Some accounts say that a controlling interest in the com¬
pany has been acquired.—Ed.)
Compare V. 91, p. 97.
directors, it is
Eastern Steamship Co., Boston.—Earnings—For October
and ten months ending Oct. 31:
October—
1910.
1909.
I Jan.lMOct.2l— 1910.
1909.
Gross
$141,544
$131,902] Gross
$1,703,149 $1,639,699
Net
21,572
511,210
23,0361 Net
530,496
—V. 91, p.
1097.
Co.—New Cleveland Ordinance.—The Mayor
of Cleveland, it is stated, has signed an ordinance passed by
the Council fixing 75 cents as the maximum price for arti¬
ficial gas in Cleveland for the next 18 months, and has also
*
enlarged business we have authorized an Increase In our capital stock to
$700,000, of which $300,000 Is 7% cum. pref. stock and $400,000 common
stock.
Of the pref. stock $250,000 has been Issued.
Of the common,
$350,000 has been Issued, $150,000 having been subscribed by present
stockholders, to be paid for in cash at par by Jan. 1 1911.
No bonded debt.
Output,
East Ohio Gas
approved the repeal of the city's offer of a new 25-year
grant at 75 cents for artificial and 30 cents for natural gas.
The company, it is said, will reject the ordinance and carry
the matter to the courts.—V. 90, p. 1173.
Great Lakes Engineering Works, Detroit, Mich.—Bonds,
&c.—Woodin, McNear & Moore, Chicago, are offering at
prices to net 5^% the 1st
M.5% gold bonds dated July 1 ’10.
after depreciation and maintenance charges,
were for the year ending Aug. 31 1910 $333,363, contrasting with $377,531
for year 1908-09.
The average net earnings for the past five years were
$336,042, being 4 Y% times the average annual requirements for both prln.
and lnt. on $750,000 bonds.
As showing the growth of the company Jits
capital and surplus account has been increased from an original $600,000
to $2,681,816 (as of Aug. 31 1910); the capital stock being $2,250,000.
Up to 1908 the larger part of the surplus earnings were re-lnvested in the
plant, but since that year dividends at the rate of 6% have been paid on
cftpit&l stock
'
Directors: Antonio C. Pessano (President), George H. Russel (VlcePres.), John R. Russel (Vlce-Pres. and Treas.), H. W. Hoyt (Vlce-Pres.
and Sec.), Joseph Boyer, H. B. Ledyard and Robert E. Plumb, all of
Detroit; O. P. Letchworth, Buffalo, and William G. Mather, Cleveland.
The
company’s net earnings,
See also V. 91, p.
592.
.
Green Bay (Wis.) Water Co.—Bonds Offered.—E.
Rollins & Sons, Boston, N. Y., Chic., Denver and San
H.
Fr.,
fleece-lined under¬
high-grade standard (“High Rock”) heavy
and “Duo-lastlc,” fine ribbed underwear for men.
Sheet as of Oct. 15 1910, after Adjustment through Issue of 7%
Preferred Stock and $150,000 New Common Stock.
garments for men
Balance
owned and operated on the
Dominion Steel
1515
THE CHRONICLE
1910.]
Assets ($1,325,687) —
Real estate and buildings._$160,160
Machinery and equipment-.
Water power ($30,000), &c_
receivable, net
Materials, supplies, &c
Accounts
Cash
Cash for
332,336
33,027
140,865
Liabilities ($1,325,687) —
Capital stock—
Preferred (Issued)
$250,000
Common (Issued)
350,000
Bills
151,364
payable
30,121
173,404 Sundry creditors
413,995 Dividend payable
purch. Aken prop’y 71,900 Surplus
Earnings for Cal. Years after Allowing for Est. Saving of $17,100
in Interest through Ample Working Capital ($534,778) Now
1909
1908
1909.
12,000
532,201
Per Annum
Assured.
1908.
$820,646 $694,937 Gen.exp.,lncl.dep. $45,297 $30,817
90,571
121,388 Balance, surplus. 87,409
Manufact’g profit. 132,706
The earnings for 1910 will probably not be up to the average, owing to
the high price of cotton, but from the actual results for 9 H months to
Oct. 15 they will exceed considerably three times the pref. dividend.
Net sales
The
pref. stock Is preferred as to assets and cumulative dividends. After
received 10% per annum, one-half of the remaining
the common stock has
earnings Is to be used
for betterments or additions or
for the purchase of
pref. stock for cancellation. An Initial dividend at rate of 7% per
annum will be paid upon the pref. for the period between Nov. 20 1910 and
Jan. 1 1911.
No mortgage debt can be placed upon the properties and no
pref. stock beyond the $300,000 authorized can be Issued without the con¬
sent of 75% of the outstanding pref. stock, or 66 2-3% of the pref. stock,
together with the written assent of Spencer Trask & Co. The surplus as
now shown ($532,201) cannot be distributed to the common stockholders,
and all future dividends on the common stock will be made solely from
earnings.
The pref. stock is retirable in whole but not in part on any int.
day within 5 years from Jan. 1 1911 at 110 and accrued dlv. and thereafter
at 115 and accrued div.
The preferred has full voting power.
the
Holton Power Co., Redlands, Cal.—Unfavorable Decision
As to Water Property now Controlled.—See
“State and City” Dept.
In 1908 capital of Holton
Co. was given as $1,000,000 stock and $500,000
“Imperial” in
Power
bonds.
President, W. F. Holton.
Hudson River Electric Power Co.—Young Committee to
committee, of which John
of New York is Chairman and Ten Eyck R.
Beardsley, 59 Cedar St., Secretary, on Oct. 31 sent a circu¬
lar to owners of 1st M. bonds deposited with the Windsor
Trust Co. saying in substance:
We are advised by James R. Hooper, Chairman of the bondholders’
committee (commonly referred to as the Boston Committee), which has
been asking for the deposit of the 1st M. bonds of the Hudson River Electric
Power Co., that there have been deposited with the Boston Committee
$3,502,000 of the total Issue of bonds [$4,222,000—V. 88, p. 228], and that
the Boston Committee will accept the deposit of the bonds now deposited
with the undersigned committee on the same terms as the bonds how held
by the Boston Committee. We are informed that members of the Boston
Committee are largely Interested In these bonds and we know the committee
to be men of high character.
In view of the large amount of bonds received
by the Boston Committee, and as the deposit agreement provides that
bondholders depositing their bonds with said committee will not thereby
render themselves liable for any assessment for expenses of the committee,
but may, If the final plan which the committee proposes to submit does not
meet with their approval, withdraw their bonds within ten days after
written notice that 51 % In face value of depositors have adopted the final
plan, your committee recommends the deposit with said Boston Committee
of the bonds of the Hudson River Electric Power Co. heretofore deposited
by you with the undersigned committee.
The arrangement will be effective when depositors of at least 75% of the
bonds deposited with this committee have likewise assented, authorizing
the Windsor Trust Co. to deliver the deposited bonds to the New England
Trust Co. and when a deposit receipt covering the deposit of said bonds
with the Boston Committee shall have been accepted.—V. 91, p. 874, 466.
Withdraw.—The bondholders'
Alvin Young
advertisement on another
the unsold portion of $400,000 1st M. 6% gold bonds,
Ingersoll-Rand Co., New York.—Option to Exchange Pref.
Sept. 1 1910 and due serially on Sept. 1 from 1916 to
1940, $5,000 yearly 1916 to 1939 and $280,000 on Sept. 1 shares for Common.—Pref. stockholders of record Dec. 20
1940, but redeemable at 1023^ and int. on Sept. 1 1916 or 1910 are offered the right from Dec. 20 to Dec. 31, inclusive,
any interest date thereafter.
Par $500 and $1,000 (c*). to subscribe at par for common stock, making payment
Principal and interest (M. & S.) payable at Wisconsin Trust therefor in pref. stock at par (the certificates to be duly en¬
Co., Milwaukee, trustee, or may be collected through any dorsed in blank for transfer), share for share, either at the
N. Y. office, 11 Broadway, or at the London agency, 144
A circular shows:
of the offices of E. H. Rollins & Sons.
Sec. Fred A. Brainerd says:
Capitalization.—Stock, auth., $300,000, Issued, $202,300. Bonds, auth., Leadenhall St.
$750,000, Issued, $400,000; reserved for future extensions and betterments
The privilege of exchange is entirely optional.
Holders may surrender
at 85% of the cost thereof, $350,000.
all or any portion of their pref. shares for exchange.
The semi-annual div
The company operates by an Indeterminate permit under the Public
of 3% upon the pref. stock has been declared payable Jan. 1 1911 to holderutilities law of Wisconsin, and furnishes, without competition, water for
of record Dec. 10 1910.
The new common stock will carry all dlvs. declare ®
domestic, commercial and municipal use In the city of Green Bay.
The thereon after Jan. 1 1911. Certificates of common stock in exchange will bd
franchise from the city was surrendered In Aug. 1910 In order to operate
for delivery as soon after Jan. 1 1911 as the same can be prepared©
This law ready
under the State law, under which no local franchise Is necessary.
(Compare V. 91, p. 719, 1028, 1098).—V. 91, p. 1450, 1388.
*
assures the company a monopoly, with no rights of purchase reserved to
the city, except at a fair valuation of the property as a going concern, the
Intercontinental Rubber Co., New York.—Guggenheims
amount to be determined by the Railroad Commission.
The $400,000
Resign.—Daniel Guggenheim and S. R. Guggenheim have
bonds are Issued to refund $133,000 bonds and pay part of the cost of re¬
construction and extensions to the plant Incurred In the past four years.
resigned from the board.
Further Issuance of escrow bonds can only be made under the approval of
Their pref, stock, It is stated, has been redeemed by the company In
the Commission for additional construction at 85% of the cost thereof.
cash and their resignation is supposed to mean that they have disposed of
Approximately $350,000 has been expended In extensions In the past five
all or most of their common.—V. 91, p. 1388, 1325.
The city Is located In an excellent agricultural, manufacturing and
years.
shipping district, and Its population was 25,236 in the Census of 1910.
International Agricultural Corporation, New York.—
Earnings for Years ending Sept. 1.
Pref. Stock Offered.—White,. Weld & Co., New York and
1909-10. 1908-09. 1907-08. 1906-07. 1905-06. 1904-05.
Chicago, are offering, at 97
and int., by advertisement on
Gross
$73,491
$67,789 $60,248 $48,978 $42,006 $36,651
Net
47,344
44,994
37,317
26,627
21,961
17,010 another page, the unsold portion of their block of $5,400,000
The current fiscal year’s earnings are at the rate of $55,000 per year
net, or over twice the bond Interest.
The water supply Is obtained from 10 7% cumulative pref. stock (voting trust certificates); par
artesian wells.
Pumping capacity of 11,000,000 gallons dally.
Last fiscal $100 per share. Pref. as to assets and dividends. Not re¬
year’s average consumption was 1,300,000 gallons dally. The company
deemable. Dividends 33^% each J. & J. The firm says:
has 4,500 customers and 47 miles of mains.
In our opinion this pref. stock constitutes an attractive Investment be¬
cause of the following points:
(1) The stability and certain growth of the
High Rock Knitting Co., Philmont, N. Y.—Pref. Stock fertilizer
business; (2) the moderate capitalization of the corporation, Its
Offered.—Spencer Trask & Co., N. Y., Albany, Boston and excellent credit and experienced management; (3) Its strategic position
ownership of ample supplies of potash and phosphate rock, the
Chicago, are placing at 102 and accrued dividend the entire through
two principal Ingredients of commercial fertilizers.
We believe that this
present issue of $250,000 7% cumulative pref. stock. Par pref. stock Is adequately secured and that the corporation Is reasonably
certain
earn
a
constantly
Increasing
surplus,
to year, beyond
to
from
year
Dividends Q-J 15.
$100 each.
the amount required for pref. dividends.
Application will be made to
Directors:
F. B. Harder, Pres.; P. M. Harder, Vlce-Pres.; W. Y.
list this Issue on the New York Stock Exchange.
Harder and W. B. Rlfenberg, Treas., all of Philmont, N. Y.; A. M.
Interim receipts of the Bankers’ Trust Co. will be delivered against pay¬
Fox, Albany. N. Y., Spencer Trask & Co.; F. W. Shibley, New York, N. Y.,
ments for this stock and will bear Interest at the rate of 7% on par from
F. W. Shibley & Co.
date of payment to Dec. 31 lncl.
These receipts will be exchanged after
Abstract of Letter from Pres. F. B. Harder, Philmont, N. Y., Nov. 7 1910.
Jan. 3 1911 for the voting trust certificates.
Business established In 1879 by the late P. M. Harder.
Incorp. In N. Y. Abstract of Letter from Vlce-Pres. Wm. N. Shaw, 165 Broadway, N. Y.,
In 1890 with a capital of $90,000, Increased In 1907 to $200,000.
We have
Nov. 15 1910.
long, however, had a large surplus, represented In greater part by cash
The company was Incorp. In July 1909 under laws of N. Y, State, and
assets which have accumulated from earnings In excess of dividends.
Our owns: (1) Fertilizer manufacturing plants situated at Evergreen, Flor¬
modern plant Is located In Philmont, N. Y., about 30 miles south of Albany.
and Montgomery, Ala.; Atlanta, Ga.; Houlton, Me.; Jackson, Miss.;
The yarn-spinning plant and cotton warehouse were erected In 1907.
The ence
Buffalo and Caledonia, N. Y.; Espy and Wilkes-Barre, Pa., and Nashville,
knit-goods plant of the Aken Knitting Co. of Philmont has been purchased
All practically rebuilt within the past year.
Tenn.
Carried on bal. sheet
at a very favorable price and will be turned over to the High Rock Knitting
at $1,205,012.
Free of bonded debt except for $6,500 on one plant.
Co. free of debt at cash cost; the main central mill Is being put In good
(2) A valuable contract with the Tennessee Copper Co. for a practically
condition and It will be producing goods by Jan. 1911.
This property, with unlimited
supply of sulphuric acid.
(3) All the capital stock of the wellIts valuable water powers, will provide for our growing business.
Our known Kallwerke
Sollstedt Gewerkschaft, whose potash mines, situated
output will be increased at the start about one-third, and to finance this
are
offering at 101 and int., by
page,
dated
_
1516
at
THE
CHRONICLE
Solistedt, Germany,
are estimated to contain about
50,000,000 tons of
or more than 50 times the
present annual consumption of the entire
United States. No bonded debt.
Plant cost over $1,700,000. (4)
In Tennessee
Properties
containing over 11,000,000 tons of phosphate rock.
(5) All
the capital stock of the
Prairie Pebble Phosphate Co. in Florida, one of the
most extensive and valuable
phosphate deposits In the country. This prop¬
erty Is held In the manner explained below.
:
The Prairie Pebble
property embraces about 39,000 acres of land 30 miles
east of Tampa, Fla.
Only one-third of this acreage has been examined,
and on this portion there are
over 30,000,000 tons of
rock.
The
remaining 26,000 acres should also be rich in deposits. phosphate
$2,000,000 and Includes the best equipped phosphate The equipt. cost over
plant in the country,
concrete warehouses, about 33 miles of
standard-gauge railway (65-lb.
rails), 3 electric and 5 steam locomotives, and about 100 cars.
The Int.
Ag. Corp. has recently contracted to acquire the Florida
Mining Co. and
another phosphate property In
Florida, which
3,000 acres or land containing over 8,000,000 tonstogether embrace about
of phosphate rock.
Basis of Acquisition.—Except for the Prairie
Pebble Phosphate Co.,
which was purchased with bonds and
all the properties were acquired
cash,
with stock—In most cases one-half
pref. and one-half common—at par,
at the appraisal values.
The cash derived from the sale of the $5,400,000
pref. stock now sold was used partly to
pay the cash balance on the Prairie
Pebble properties and the Tenn.
Copper Co. sulphuric acid contract,
for modernizing the
partly
plants; the remainder was added working capital.
potash,
.
Capitalization—
Authorized. Outstanding.
7% cumulative preferred stock
$12,000,000 $10,124,000
Common stock (see also balance sheet
below)
12,000,000
5,928,000
Transfer agent of stock and voting trust
certificates, Bankers’ Trust Co.,
N. Y.; Registrar, First Nat.
Bank, N. Y.
all
of
Practically
the stock Is
subject to a voting trust which runs until Sept.
14 1914.
Voting trustees:
Thomas W. Lamont, Waldemar
Schmldtmann, William N. Shaw, John W.
Fry and J. Du Pratt White.
The corporation Itself has no bonded
debt, the bonds on Its subsidiary
companies, for which this corporation is not liable either as
guarantor or
principal, being as stated In foot-note to balance sheet.
Balance Sheet June 30 1910,
prepared from Report of Certified Public Acc'ts.
Assets ($21,603,745)
Liabilities ($21,603,745)Cash and receivables
$5,325,154 Accts. and notes payable $3,692,005
Merchandise, at cost
1,060,151 Bonds of subsidiary co__
6,500
Prepaid royalties, Insur.
Reserve for cum. dlv
437,272
and organization exp_
775,173 Due subsidiary company
478,545
Fertilizer plants
1,205,012 Reserve for discounts, &c.
40,000
Potash properties (Kali.
Pref. stock, 7% cum
10,124,000
Sollstedt Gewerk.)
4,000,000 Common
stock
5,928,000
“
Phosphate properties
x8,495,616
contracted for Issue
309,021
Acid
contract
742,639 Surplus
588,401
The Int. Ag. Corp. owns all the stock
of the Atlas Phosphate
Co.,
which in turn owns all the stock of the Prairie
Pebble Phosphate Co.
The
vendors of the Prairie Pebble
Phosphate Co. property received In part pay¬
ment therefor $6,000,000
purchase money bonds of the Atlas
Phosphate
Co., these bonds being secured by the deposit with
the Bankers’ Trust Co.,
trustee, of the entire Prairie Pebble Phosphate Co.’s
stock.
$4,000,000 of
these bonds mature Jan. 1940;
$2,000,000 mature in $500,000 Installments,
as follows: July 1
1911, Jan. 1 1912, Jan. 1 1913, Jan. 1 1914.
A certain
amount of these collateral trust bonds
is reserved to retire a like amount
of underlying bonds still
outstanding.
The
Int.
Ag. Corp. thus owns all
the equity In this
property, which equity Is represented by the stock of the
Atlas Phosphate Co. carried In above
balance sheet at the book value of
$6,130,000 In the Item of phosphate
properties,
the balance of
$2,365,616 In that Item represents the value of $8,495,615;
the Tennessee phosphate
property above referred to.
x
Net Earnings
Years ending June 30
(1909-10
Balance for
The
as
common stock
$580,233
earnings last
The company owns exchanges in
Keokuk, Fort Madison, Burlington,
Columbus Junction, Wapello
and Muscatine, and In five other
_
believed that the
It la
property was purchased In the interest of towns.
The decree of
the Bell Co.
sale, granted by Judge McPherson, In the
based on the foreclosure of
Federal Court, was
130 1st M. 5% gold bonds
V. 72, p. 583. 244.
issued in 1901.—
Mount Morris
Electric Light Co., New
Bonds.—This subsidiary of the Consolidated York.—Dolled
Gas Co. has
called its entire issue of
1st M. 5s, dated 1890, and
$988,000
will pay the same at 105
and int. at the Central
Trust Co.
on Dec. 31.
Compare
New York Edison Co. (Consolidated
Gas Co.), V. 90,
p. 562, 773.
New Britain (Conn.) Gas
Light Co.—New Stock.—The
shareholders will vote Dec. 6 on
increasing the capital stock
from $400,000 to
$500,000 (par value of shares $25
to provide for extensions
each),
and additions.
Annual dividend
rate 8% (F. &
A.). Bonds, $400,000 1st M. 5s due Jan. 1
1926.
Pres., A. J. Sloper, New Britain.—V. 87,
p. 1667.
New Haven (Conn.) Gas
Light Co.—Convertible Deben¬
tures, Series D, Called for Conversion.—The
directors on
Nov.
Northern California Power Co.,
708,680
as
of
co.
them):
W. J. Carney, holding $7,000 bonds and
$10,000 bonds and $11,500 stock; William$5,000 stock; Thomas Sutton,
$10,000 stock, and L. A. Bain, $8,000 bonds Glffert, $14,000 bonds and
and $8,000 stock,
allegations:
The company was org. In Nov.
1901 in N. J.
Auth. capital stock 30,000
shares of $100 each; Issued about
25,000 shafes.
Has telephone
In about 30 cities and towns in
exchanges
Illinois, with about 12,000 subscribers
said cities and towns and
In
upwards of 5,000 subscribers In the
districts.
Owns and operates about
country
1,450 miles of local toll lines,
400 miles of long-distance trunk
about
lines and about 3,500
miles of farmer lines.
A trust deed dated Jan. 2
1902 was made to the Amer. Tr.
& Savings Bank
of Chicago, trustee, to secure
$5,000,000 1st M. 5% bonds, due Jan. 2
whereof only $2,390,000 have been
1927,
Issued and are
outstanding.
With a view to
rehabilitating the plant and providing
for
extensions, the
company on Aug. 14 1909 entered Into a
contract with Arnold
representing a syndicate, by which the
Kalman,
company
agreed,
provided
a ma¬
jority of the 1st M. bondholders consented
thereto, to Issue Its 5% “priority
notes,” due Jan. l 1927, In amounts
equal
to
the
Int.
on
Its 1st M.
as fast as said
bonds,
Interest would mature, for five years from
Oct. 1 1909, said
notes to be sold to such
purchasers as should be found
by the syndicate,
the proceeds to be used to
buy In the maturing coupons, the
held as additional
coupons to be
security for said notes, the company to devote
net earnings to the
Its entire
development of Its plant for said period of five
up to an amount not exceeding
years,
$800,000.
In January 1910
Henry H. Evans, who until about Sept. 28
1910 was
President of the company, sent a
circular letter to the
of whom were also
most
bondholders, saying In effect that the stockholders,
aforesaid plan was
unwise and that a better
plan was under consideration.
None
of
the said
priority notes consequently were
Issued, and said Evans, aided by
H. D. Wagner and one C. B.
one
Cheadle, succeeded In procuring possession
a majority of the
of
stock under a 6-year
pooling agreement dated Jan. 221910.
Consolidated.—Report.—
Year end.
Gross
Net
Other
Bond
Oct. 31. Earnings. Earnings.
Income.
Interest.
1910
$578,082 $396,471 $10,372 $122,835
1909
432,715
281,554
1,115
94,654
—V. 91. p. 341
$791,320
deposit
of such bonds with the Western
Trust & Savings Bank, Chi¬
cago, under minority agreement (V.
91, p. 1388).
Suit.—The bill of complaint
recently
filed in the U. S.
Circuit Court for the Nor. Dist. of
Ill. on behalf of the fol¬
lowing security holders (and others who may join with
Mississippi Valley Telephone Co.,
la.—Fore¬
closure.—This property was bid in at Keokuk,
foreclosure sale at
Keokuk on Nov. 26
by Charles Webster of Webster Brothers,
St. Paul and
Minneapolis, for $175,750. A press dispatch says
the
$1,500,000
Inter-State Independent
Telephone & Telegraph Co.»
Joliet, &c., Ill.—Deposited.—The Investment
Ltd., the English banking syndicate which holds Registry,
$175,000
of bonds, has signed the
protective agreement for the
and
time for
1st M. bonds under the committee’s
agreement
expired Nov. 28. There were, it is
stated, no dissents. See
V. 91, p. 1445.
Debentures may be left at the office, 80 Crown
St., New Haven, at any
on and after Jan. 5
1911.
Interest on the debentures will
cease Dec. 31
1910; the new stock to participate In all
dividends paid after Jan. 3
J. Arnold Norcross is Sec. and
1911.
Treas.—V. 89, p. 1545.
1910-11 (est.)
Estimated Consumption of Commercial
Fertilizer During Past Four Seasons
in Four States (in
Tons).
1910.
1909.
1908.
1907’
New York
375,000
335,000
290,000
South Carolina
300,000
750,000
685,000
680,000
631,000
Alabama
325,000
315,000
312,000
300,000
Georgia
1,050,000
829,000
812,000
The corporation Is
already operating its fertilizer business In all the785,000
States
east of the Mississippi
River, being particularly well situated to take
ad¬
vantage of the rapidly Increasing growth of fertllzer
consumption
the
In
Middle West.
The phosphate rock In this
country Is practically limited
to Tennessee and
Florida,
except
for
deposits
In
Utah, Wyoming and Idaho
that are too far distant to
permit of competition.
Directors.—Waldemar Schmldtmann,
President,
and William N. Shaw,
Albert French and T. C.
Meadows,
Thomas W. Lamont, Vlce-Pres. First Vice-Presidents, of the company;
Nat. Bank, N. Y.; A. II.
Vice-Pres: Chase Nat. Bank, N. Y.; Chas.
Wlggln,
H. Sabin, Vlce-Pres. Guar. Tr.
Co., N. Y.; Benj. Strong Jr., Vlce-Pres.
Weld, of White, Weld & Co., N. Y.—V.Bankers’ Tr. Co., N. Y.; Francis M.
91, p. 1450, 97.
following information
Michigan Lake Superior Co.—No Dissents.—The
depositing
4 voted to authorize the
conversion
year and this have been made
selling at the lowest price known for five years. The with phosphate rock
price of Florida 68%
phosphate rock In the last five years has varied
from $2 50 to $5 50 per ton'
and for 75% rock from $5 to
$7 50 per ton, the low figures
having been
reached last year.
The market now Is about $3 for
68% rock and about
$5 50 for 75% rock.
Europe, In its highly cultivated districts, obtains
from 30 to 35 bushels of wheat
per acre; the average yield In this
Is from 15 to 18
country
bushels, and Is declining. Germany uses from 1,500
to
2,000 pounds of fertilizer per
acre, whereas our average In the States now
using the most fertilizer is only 200 to 300 lbs.
Reliable
authorities
esti¬
mate that our U3e of
commercial fertilizer should treble within 12
years.
affords the
It Is further
understood that Evans subsequently entered
Into an agree¬
Reynolds and E H. Harrison of Wauseon, Ohio,
bare majority of said
by which
bonds and a bare majority of the
stock,
pooled, were sold to Reynolds and
having bee*
Harrison, acting on behalf of persons
unknown to the
with 10 shares ofcomplainants, at the price of $600 for each bond (together
stock) with the April 1 1910 coupons detached.
was then made In
Default
the payment of the Interest due Oct. 1
1910, so that said
Persons might acquire all the
property
through
foreclosure.
The assets, with the sole
exception of franchises, licenses and other lnfangible property, are believed
to be worth not to exceed
the debts exceed the
$1,500,000 and
fair value of all assets by about
result of
$1,000,000. As a
the company Is In default In the
mismanagement,
matured obligations,
payment of
Interest on bonded debt,
$70,000. Since Sept. Including
26 1910 H. D. Wagner has been theaggregating about
Mathewson Treasurer, and Adam S. Clow
President; A. D.
Secretary. Wagner openly con¬
fesses that the
company Is Insolvent.—V. 91, p. 1388.
ment with F. B.
a
the close of
business Dec. 31 1910 of the
outstanding convertible deben¬
tures, series D (aggregating $1,000,000), into stock of
Certified-, 1910-11 Est.).
$1,017,504
437,271
7% preferred dividends
LXXXXI.
time
1909-10.
Net earnings
[VOL.
Dividends
Paid.
(10
Balance,
Surplus.
H%)$210,000 $74,008
(5H%) 110,000 78,015
North Shore Electric Co.,
Chicago.—See “Ann.
Acquisition.—The $600,000 capital stock of the Reports.”
Oak Park
(Ill.) Light, Heat & Power Co. has been
purchased in the
interest of the North Shore El. Co.
Frank J. Baker, Vlce-Pres. North Shore
Co., has been made Pres, of the
Oak Park Co.
The company (org. In 1902 as Oak
Park Yaryan Co.—V.
75,
p. 33) has outstanding some $600,000 of an
auth. $750,000 1st M. 5s dated
May 1 1902. It was reported unofficially last June
that the North Shore
El. Co. had purchased the Elgin
commercial lighting Interests of
the Aurora
Elgin & Chicago RR.-V. 90, p. 1175, 1105.
Oak Park (Ill.) Light, Heat & Power
Co.—See North Shore
Electric Co. above.—V. 75,
p. 33.
Pay-As-You-Enter Car Corporation.—Stock
Offered.—
Carlisle & Co., N. Y. City, are
by advertisement on
offering
another page a block of this
company’s 7% cum.pref. stock,
“rights.” The total auth. capital stock is
$5,000,000,
consisting of $1,500,000 pref. and $3,500,000 com.,
of which
all the pref. and
$2,500,000 of the common is to be issued,
leaving $1,000,000 common in the treasury.
with
Abstract of Letter from Pres. Duncan
McDonald, August 4 1910.
The pay-as-you-enter car was first
put in operation under my direction
in Montreal In 1905, and
an
proved
immediate and
sulting in a large reduction of the accident list, a complete success, re¬
substantial increase in
revenue and better service and
greater convenience to the public.
The
first P-A-Y-E cars in the United States
commenced to operate in
on Nov. 24 1907;
Chicago
to-day over 2,200 are operating there or under construc¬
tion to operate.
The total number of cars operated In
Chicago is over
4,500.
Fifty-three roads in the United States have now P-A-Y-E
cars in
daily operation. To these roads licenses have been issued
for approxi¬
mately 5,500 cars, said roads operating a total number of cars
In excess of 22,000.
probably
Gen. Man. Thomas W. Casey is now
negotiating with
some 25 companies at home and
abroad, operating a total probably in ex¬
cess of 16,000 cars.During the 12 months ending May 31 1910, 3,653 cars were
licensed un¬
der limited and unlimited contracts,
producing a gross royalty of $365,300.
The total expenses for the 12 months,
including the cost of sixteen additional
patents, all selling and administration expenses, amounted
to $58,393,
showing a total net profit for that period of $306,907.
During the past
few months pay-as-you-enter cars have been
inaugurated in Detroit.
Baltimore, Cincinnati and Rochester.
These four cities operate over
4,800
cars; the figures of profit above mentioned include licenses
on only 407 cars
of that number.
The foreign patents should be dealt with
through a sepa¬
rate company organized abroad.
There are, I believe, 200,000 street cars
in use in Europe, and the P-A-Y-E car should have
the same success there
as in this country.
[Compare report of Public Service Corp. of N. J.,
V. 90, p. 1305.—Ed.]
See also V. 91, p. 809.
BALANCE SHEET JUNE 1 1910.
(With assets and liabilities as of the taking over of all of the
capital stock
of the operating company.)
Assets ($5,334,697).
Liabilities ($5,334,697).
Patent rights for U. S. and
Preferred stock
$1,500,000
abroad
$5,015,974 Common stock
z3,500,000
Patterns, furniture, &c__
2,541 Current liabilities
7,778
Cash on hand & in banks
47,361 Surplus
(Sur.
adjusted,
Investments at cost
40,721
$68,091; royalties 1909Accounts receivable, &c_
228,100
10, $306,907; misc. $1,1.*
■*.'
921; less divid., vvv»vvv;
v“*»
$50,000)
326,919
UAVyOia
X $1,000,000 common stock in treasury for future
purposes.—V. 91, p. 809
*♦.
'
t
•
i
Pennsylvania Water Co., Pittsburgh, Pa.—New Bonds.—
recently authorized an issue of $4,000,000
5% “collateral trust and general mortgage” bonds, of which
there are now to be issued
$2,050,000, making the total
funded debt outstanding $3,250,000.
The shareholders
Db*. 3
Co.
Outstanding and underlying bonds:
East Pittsburgh Water
6% bonds, $50,000; Pennsylvania Water Co. first 5s, $190,000,
and second 5s, $960,000
$1,200,000
New collateral trust and gen. mtge. 5% bonds, auth., $4,000,000;
$1,200,000; reserved
in escrow to cover underlying bonds.
for future betterment, $750,000; to be Issued
The proceeds of the $2,050,000 new
2,050,000
now..
bonds now to be Issued will be used
to discharge the floating debt and to pay for betterments now approaching
completion. The plant Is reported In excellent condition. Some large
extensions have recently been made; new force main laid and a large new
chemical filtration plant completed.
The present increase In consumption
has made necessary extensions of the filter plant put In operation last July.
These will be
finished shortly.—V. 85, p.
287.
Philadelphia (Pa.) Company for Guaranteeing Mortgages.
—Surplus Increased.—The directors on Nov. 14 declared a
regular dividend of $2 50 per share on the $1,000,000 stock,
payable Dec. 15 to holders of record Nov. 30, and also ap¬
propriated $50,000 to surplus, increasing latter to $300,000.
Net earnings for the 5 mo3. ending Oct. 31 1910, $35,646, and for Oct.
1910, $11,349, against $7,874, $5,949 and $1,432 In Oct. 1909, 1908 and
1907, respectively.
The company began business June 1 1907, the first
dividend ($2 per share) being paid Dec. 1908 on Its first 6 months’ business
with full capital.
Undivided profits, $65,503; mtges. owned, $1,615,500,
against $1,168,500 May 31 1910; cash, $6,869, against $155,093; bills paya¬
ble,
Pres. Miller, Los Angeles, Nov. 5 1910.
Authorized. Outstanding.
Preferred stock
$4,000,000
$4,000,000
Common stock.
.26,000,000
7,200,000
General mortgage 5s
30,000,000
7,096,000
Prior liens (closed mortgages), $10,084,000, less $4,649,000 held
by trustee as additional security to general mortgage 5s.
5,435,000
Of the $22,904,000 bonds held In escrow, $5,435,000 may be Issued to
retire at par underlying bonds, and the balance may be Issued to reimburse
the company for 75% of the cost of permanent extensions and additions
after Jan. 1 1910, provided the net earnings shall have been at least equal
to 1 X times the annual Interest charge on all bonds outstanding. Including
those proposed to be issued and those reserved to retire prior bonds.
In
accordance with the terms of its mortgage the company has deposited the
sum of $246,870 due in 1910 on account of Its special trust fund (being 2%
on amount of all outstanding bonds) to be applied to additions, extensions
or redemption of bonds.
Including both water power and steam plants,
the company has an electrical generating capacity of approximately
60,000 h.p., which is now being Increased by the erection of a 15,000 h.p
Condensed Extracts from Letter of
Capitalization—
steam plant
$300.000.—V. 90. p. 1682.
Pottsville (Pa.)
Water Co.—Slock
Dividend.—This com¬
Incand. lamps (16 c.p.
Motors, number
Horse-power
Meters, electric
said to have a total storage capacity
300,000,000-gallon reservoir
aompleted this year at Wolf Creek, near St. Clair.
Prairie Pebble Phosphate Co.—Sale.—See International
a new
above.—V. 76, p. 1305.
Co.—Offer io Reduce Rates.—The company, at the
rehearing of the Loftus complaint before the Inter-State
Commerce Commission for a reduction of rates between cer¬
tain Western points, made an offer to reduce the rates for
upper berths 20% where the charge for lower berths is more
than $1 50, to make the minimum price of upper berths
$1 25, and to reduce some lower-berth rates in order to equal¬
ize rates throughout the country.
The proposed new rates
were opposed by the Attorneys-General of Kansas, Okla¬
homa, Iowa and Indiana and the Northern Pacific and Chi¬
cago Great Western RR.
The offer leaves unchanged Pull¬
man seat rates, and is to become effective on approval by
Pullman
the Commission.
Assistant General Solicitor G. S. Fernald is quoted as saying
We have not prepared all our tables establishing the new rates, but we
are working on them as fast as possible.
We decided that although the
maintain than the lower,
upper berths cost more to build, furnish and
punllc discrimination against the uppers required a reduction In their price.
Not a rate has been raised by this new schedule, but we are endeavoring
to adjust all charges to correspond with the Eastern standard of six mills a
mile.
This brings about a number of reductions In lower berths as well as
the correspondingly greater reductions In uppers.—V. 91, p. 1332, 1158.
Ralston Steel Car Co., Columbus, O.—New
shareholders have authorized an increase in the
$1,000,000 to $2,500,000.
Stock.—The
capital stock
W. B. Jackson, in the
“Ohio State Journal" of Nov. 26, said:
At present the company has $600,000 of common stock and
0
$400,000 o
$1,000,
The
pref.stock has been practically underwritten and within a year all of the
money will have been paid In, leaving the company with ample working
capital. The present 6% pref. stock will be retired, as will be the bond
Issue, of which only $159,000 Is outstanding, leaving the company without
any bonded debt whatever.
Practically all of the new capital will come
6% cumulative pref. stock.
Under the recapitalization It will have
000 of common stock and $1,500,000 of 7% cumulative pref. stock.
from outside of Columbus.
The company Is now working over
and has a pay-roll of over $40,000 a month, or exceeding
There has been no change In officers or directors.
J. S. Ralston
dent:—V. 91, p. 876.
700 men
$500,000 a year.
is Presi¬
& Power Co.—Sale.—See Western
below.—V. 75, p. 3308.
Rockingham Power Co.—No Offer.—No offer was received
on Nov. 23, the date set for the sale under the reduced upset
price of $750,000.—V. 91, p. 1264, 1028.
Rome (N. Y.) Brass & Copper Co.—300% Stock Dividend.
—It was recently announced that this company, which for
some time past has paid regular dividends, had increased its
authorized capital stock from $300,000 to $1,600,000, de¬
clared a stock dividend of 300%, and arranged to merge with
its subsidiary, the Rome Tube Co., by exchange of $200,000
stock, $ for $; also to give its own stockholders an oppor¬
tunity to subscribe at par for the remaining $200,000 new
stock to the extent of 1 new share for each 7 shares already
owned, in order to provide for extensions of plant.
The company has long been In the business, Its annual requirements of
late being estimated at between 30,000,000 and 40,000,000 lbs.
W. L.
Kingsley Is Pres.; T. H. Stryker, VicoPres.; Barton Haselton, Sec. and
Richmond (Oal.) Light
States Gas & Electric Co.
Treas.;
H. J. Rowland. Asst. Sec. and Sales Mgr.
Sharon (Pa.) Steel Hoop Co.—Change in
Pres. A. O. Blackburn late in October last
Control.—Yice-
resigned, after
having disposed of his interest in the company to
Buhl of Sharon,former President of the company,
W. Kohler, also of Sharon.
Frank tl.
and Fred.
stock from $1,000,-
The company In Aug. 1909 increased its auth. capital
000 to $2,500,000 (of which $1,800,000 is reported to be
•n Jan. 1 1910 paid oil the remaining $100,000 bonds.
have been paid, with the exception of two quarters, for three years
contract was awarded early In 1910 for a re-hcatlng furnace.
A new
mill Is now under construction.
Late in 1909 Charles Bachman,
and
Reed
Kerr and James P. Whltla were elected directors
J.
Evans
Feb. 1910 Mr. Kerr, who had been Gen. Mgr., was elected President to
ceed Morris Bachman, deceased.
Mr. Buhl is President of the
Klmberly Corporation of Sharcn.—V. 85. p. 226.
outstanding), and
past. A
band
Severn P.
Sec. In
suc¬
Euhl-
Quarterly dividends
Southern California Edison Co., Los Angeles.—Bonds,
Earnings, &c.—N. W. Harris & Co., Boston and New York;
Harris Trust & Savings Bank, Chicago; E. H. Rollins & Sons,
Boston, Chicago, Denver .and San Francisco; and Perry,
Coffin & Burr, Boston, are offering for sale,at97 and inter¬
est, yielding 5^%, an additional amount of general mortgage
gold 5s, dated Nov. 1 1909 (V. 89, p. 1599, 1673).
.
_
.
Actual Earnings for Year
small
676
791
325
444
645
609
2:1,980
a20,900
2,265
21,271
2,302
21,100
2,077
19,474
__
a Decrease due to sale of
tutlon of tungsten lamps.
1907.
666,924
2,644
27,636
37,818
16,455
777
X34
.
On meters
Gas stoves
1908.
3,448
40,945
44,238
17,081
_
_
1909.
865,709
4,009
58,945
53,127
-_.al6,314
...
..
of Sept. 30.
755,645
2,887
33,133
41,611
17,237
equivalent) ...959,899
__
_
Arcs—Municipal
Commercial
chartered in 1828, declared on Oct. 21 an extra stock
increasing the capital stock, it is under¬
stood, from $200,000 to $400,000.
Agricultural Corporation
as
...
Gas
dividend of 100%,
The company owns four reservoirs
•f about 1,000,000,000 gallons, including
In Los Angeles.
Growth of Company ’s Business
1910.
pany,
from
1517
THE CHRONICLE
1910.1
gas
x
property.
Decrease due to
ended Sept. 30 1910 and Estimate for Cal.
[For 1911 after additions and
1909-10.
Gross earns..$3,302,210
Net aft. taxes 1,679,712
substl-
Year 1911.
improvements now under1909-10.
way are
completed.]
1911.
r$627,180
575,000
$675,000
625,000
$477,532
$575,000
1911
$3,750,000 Int. charge
1,875,000 Depreciation
_
Surplus for dividends
Being the annual Interest charge on the $12,531,000 bonds out as above.
The pref. stock Is 5% cumulative, the common stock Is now paying 5%,
and on the basis of the present market prices of both stocks there is an
equity In the property of approximately $6,500,000 over these bonds.
(See also V. 89, p. 1673.)—V. 91, p. 407.
x
Co.—Possible Merger.—Cecil Gren¬
recently in Birmingham, Ala., rep¬
resenting Engish bondholders, is quoted as saying that an
effort will be made to effect a consolidation of this and
other iron and steel companies in Alabama.—Y. 91, p. 657.
Southern Iron & Steel
fell of London, who was
Power Co.—Acquisitions.—Preliminary papers
signed for the purchase of the Charlotte (N. C.)
Electric Ry., Light & Power Co. (see V. 88, p. 1252, and
page 22 of “Electric Railway" Section).
Possession, It Is said, will be taken on Jan. 1.
The lighting properties.
It Is understood, will be transferred to the Charlotte Power Co. and the
trolley lines to the subsidiary Piedmont Traction Co.
The last-named com¬
pany has been granted a 60-year franchise In Charlotte and Is constructing
an interurban railway from Anderson, S. C., to Greenville, S. C., thence
northward Into North Carolina via Charlotte, Salisbury and Greensboro to
Durham, with surveys completed from Gastonia to Mt. Holly, N. C.,
15 miles.
The same interests In September last purchased the Greenville
(S. C.) Traction Co., a company with some $306,000 stock and $250,000
1st M. 5s, and controlling the city’s lighting service, as well as 15 miles of
trolley line; and in June last they purchased the Salisbury (N.C.) & Spencer
The Greenville Spartanburg & Anderson Ry., an¬
Ry. (V. 82, p. 1380).
other closely allied corporation, with $3,000,000 of auth. capital stock,
owns the Anderson (S. C.) Ry. (V. 89, p. 1346), operates an interurban
line from Anderson to Belton, and Is building from Belton to Spartanburg,
and other points In South Carolina.
J. P. Clark Is Vlce-Pres. and Gen.
Man. both of the Piedmont Traction Co. and the G. S. & A. Ry. Co.
As
Southern
have been
to Southern Power
Co., see V. 90, p.
855.—V. 91, p. 1451.
Co.—Foreclosure.—The Equitable Trust
Co. of N. Y., as trustee under the 1st M. for $2,806,000, has
begun suits in New York and Massachusetts to foreclose the
Standard Cordage
same.—Y. 91, p. 1163, 877.
Stockton (Cal.) Gas & Electric Co.—Sold.—See Western
States Gas & Electric Co. below.—V. 88, p. 886, 948.
Swift & Co.—Increase of Stock.—The directors have
an increase in the authorized capital stock
mended
recom¬
of the
Shareholders
Jan. 5 to approve the
new issue, which, it is stated, will be sold at par as required
to pay the floating debt and for improvements.—V. 91, p.721.
$75,000,000,
company from $60,000,000 to
will be asked at the annual meeting on
& Power Co. of St.
Union Electric Light
Year ending—
Sept. 30 1910
Dec.
—V.
31 1909
Louis.—Earnings.
Gross
Net (after
Interest
Dividends
Earnings.
Taxes.)
Paid.
(6%).
$3,313,508
3,085,614
$1,587,690. $781,000
1,582,580
834,204
$593,100
593,100
Balance,
Surplus.
155,276
$213,590
90, p. 378.
United Coke & Gas Co.—See American Coal Products Co.
above.—V. 80, p. 1239.
United States Realty & Improvement Co.—Earnings.—
For the six months ending Oct. 31:
1909.
1910.
Gross earns
$1,687,096
ccLuct——-"
Misc. Interest.
$342,352
$1,668,793
Manag’texp..
231,074
—'V. 91, p. 1098, 657.
224,317
$321,105
Int. on debens.
Div.__
(2M%)
Surplus _L_
1910.
1909.
$300,000
$332,100
404,07 3(2 H)36'.’> ,‘:63
$409,600
$427,608
Corporation.—Rail Order.—The “Iron
Age" of N. Y. on Dec. 1 said:
The announcement by the Pennsylvania RR. that It has given orders for
150,000 tons of rails for 1911 Is the chief event of the week.
Contracts
have not been signed, nor has the distribution among the mills been finally
decided.
The Steel Corporation mills and the Buffalo and the three Inde¬
pendent Pennsylvania mills are expected to share In about the same per¬
centages as for 1910, but points In the terms have not yet been agreed upon.
The order Is larger than was looked for, but Is less than the total placed by
United States Steel
the
Pennsylvania RR. for this year.
Pensions.—Payments are to begin Jan. 1 1911 from the
pension fund of $12,000,000 established last spring consist¬
ing of $8,000,000 provided by the corporation and the $4,000,000 fund created by Andrew Carnegie March 21 1901C
The monthly pensions to be paid from the Income of the fund will be
made up on the following basis: For each year of service, 1 % of the average
pay during the last 10 years of service; but In no case to be more than $100
a month or less than $12 a month.
For example, an employee who has
been 25 years In service and has received an average monthly pay of $60
will receive a pension of $15 a month.
See editorial remarks on a previous
page.—V. 91, p. 1333, 1158.
1518
THE
CHRONICLE
United Box Board Co.,
Chicago.—Status.—The “Chicago
on
Nov. 27 reported the company’s present
financial position as follows:
rrx
H
Interocean”
Cash on hand and In bank
Bills & acc’ts receivable._
Raw material on hand
$211,000 Due
to banks
976,000 Accounts payable
945,000
A
lie Co m mem a i
$675,000
Co., with
capital of $15,000,000, of which $10,000,000 is pref. stock.
The company will
immediately take over the Stockton Gas
& Electric Co. (V. 88, p.
886) and the Richmond (Cal.) Light
a
& Power Co.
The same Interests, It Is understood, have an
option on the American
River Electric Co. (V. 82, p. 1498; V. 87,
p. 1013), and have been
ting for the Humboldt Gas & Elec. Lt. Co. (reported capital stock negotia¬
$777,024;
1st M. 5s due Oct 1 1938 $269,000), owner of a
3,000 h, p. hydro-electric
plant at Junction City, a 60-mile transmission line to
Eureka,
gas
plant, &c.
The present Richmond Light & Power Co. was
Incorporated In California
last June with $2,500,000 of auth.
capital stock by Sidney F. T. Brock, of
Phlla., Evans Williams, of San Fran., and others, as successor of the
old
Richmond Lt. & Power Corp., a company with
$150,000 stock, also
$100,000 1st M. 5s due, It is said, Feb. 1 1948.—V. 75,
p. 1308.
Westinghouse Machine Co.—Proposed Plan—New Mort¬
gage.—The creditors’ committee of the Westinghouse Ma¬
chine Co. has issued
letter to holders of the
$6,473,000
notes maturing Jan. 1 next.
Abstract of Committee’s Letter, including
Proposed Plan.
committee has
a
outstanding 3-year 6% collateral
The
endeavored to secure a plan
noteholders and has had many conferences with a satisfactory to all the
special committee
pointed by the directors.
After going into all phases of the situationap¬
it
was found that at this time it
is impossible to adopt any plan,
except one,
which would extend, at least for a
period, the present obligations of the
company.
The proposed plan provides for the authorization
of a new
mortgage; also that the Machine company, which owns all the 30-year 6%
capital stock
of the 'Westinghouse Foundry
Co., and guarantees its bond issue ($800,000
now outstanding.—Ed.), will take over
the Foundry company. The
pres¬
ent issue of $1,765,000 bonds is to be
disposed of as follows:
To be held to retire $140,000 serial 1st M.
West’house Mach. Co, bds.$140,000
To be held to retire $800,000
Westinghouse Foundry bonds
800,000
To be held to retire $825,000
outstanding prior debenture bonds
of Westinghouse Machine Co
825,000
In addition, sufficient of the
bonds are to be placed with the
Colonial
Trust Co. of Pittsburgh, at 90% of their
par value, as collateral to secure
the $6,473,000 outstanding
notes, which are to be extended for 3
years,
with Interest at 6% per annum.
This calls for about $7,200,000
bonds, and
leaves about $1,000,000 of bonds to be
disposed of from time to time for
working capital.
Inasmuch as the security now held for the
notes is a debenture
bond,
by the substitution of the new mortgage bond and the
consolidation of the
two companies the value of the
security will be enhanced and the com¬
pany will have more of an
opportunity during the life of the extension to
so adjust itself that the
notes will be paid.
Holders of the extended notes
will be given the right at
any time during their life to
exchange the same
for bonds at
9714%.
A voting trust will be
created, which will control the election of directors
during the life of the notes, to conserve the interest of
the note holders.
The mortgage will also require a
payment of a minimum amount of
$150,000
fund, and in addition 25% of the
of
operating expenses, fixed charges and taxesearnings
have
been
deducted, for the further security and retirement of notes from
time to time.
The committee feels that under the
circumstances the Interests of all
will be best conserved by the
extension, and assures noteholders that the
extension must be unanimous; that the
failure of one or more to
accept these
notes means disaster to all the
noteholders. Holders of notes to the
amount
of $3,000,000 have
already consented to the extension, conditioned
on
the unanimous consent of all the
noteholders.
Comoare V.91, p. 966.
per annum into the sinking
the corporation, after
—The well-known
banking firm of
Co. are offering on another
Plympton, Gardiner &
four choice issues of invest¬
ment bonds,
namely: United New Jersey RR. & Canal Co.
general (now 1st) 4s, due 1929;
Chicago & Eastern Illinois
RR. gen. cons. 1st 5s, due
1937; Denver & Rio Grande impt.
mtge. 5s, due 1928, and Wilkes-Barre & Eastern RR. 1st
5s,
due 1942.
Full particulars will be
furnished upon request
at either of the firm’s three
offices, New York, Chicago and
London, England.
page
—The “Southern Banker” of
Atlanta, Ga., has purchased
“The Central Banker” of Cincinnati.
The “Central Banker”
will be discontiuned as a
separate publication and will be
consolidated with “The Southern
Banker,” which will con¬
tinue under the same name and
management as heretofore,
but will circulate in the Central States
as well as in the South.
“The Southern Banker” will issue from
Atlanta in the future,
the same as heretofore.
—The
Chicago branch office of O’Connor & Kahler, under
Philip R. Clarke, is rapidly equipping
the management of
itself with a body of
experienced bond salesmen. The latest
Hill, for several years with Farson,
Son & Co. and
Ulen, Sutherlin & Co.; Marshall Forrest,
formerly associated with H. C. Speer & Sons Co., and Fred
A. Smith, a
Chicagoan of experience on the Board of Trade.
—White, Weld & Co., members of the New York Stock
Exchange, 5 Nassau St., this city, and the Rookery,
Chicago,
are
to-day advertising elsewhere in this issue the unsold
bal¬
ance of
$5,400,000 International Agricultural Corporation
7% cumulative preferred stock. Full details of this
offering
are given in our
“General Investment News”
dept.
—Alfred E. Dickey, Vice-President of the
Wells & Dickey
Co. of
Minneapolis, dealers in municipal and corporation
bonds, died on the 29th ult. after a short illness.
acquisitions
are
Alvert E.
—^Attention is called to the attractive list of securities ad¬
vertised on another
page for December investments
by Red¬
mond & Co.
i m cs.
Friday Night, Dec. 2
1910.
The note of caution is still
manifest.
But the iron and
steel trade
lags. It looks as though merchants and financiers
will pick their
way carefully in 1911.
STOCKS OF MERCHANDISE AT NEW YORK.
Washington (D. C.) Gas Co.—Redemption of Certificates.—
The $2,600,000 certificates of indebtedness are
being re¬
deemed at the American
Security & Trust Co. at par and
interest to Dec. 1.—V. 91,
p. 1333, 1098
Western States Gas & Electric Co.—New
Company.—
H. M. Byllesby & Co. have filed articles of
incorporation
at
San Francisco of the Western States Gas & Electric
LXXXXI
COMMERCIAL EPITOME.
352,000
Total current llabllitles_$l,027,000
Total current assets
$2,132,000 Net current assets
$1,105,000
Director Charles C. Adslt says: “Our
only indebtedness Is with the banks
and Is well secured.
The company Is doing all of its business on a
strictly
cash basis.
The bonded debt now stands at
$3,223,000, a reduction of
$150,000 compared with a year ago.”
The company Is understood to be
doing a large business, but prices are
cald not to be high enough to Insure
large profits.—V. 90, p. 1294, 508.
[VOL.
Dec. 1 1910. Nov. 1 1910. Dec
Coffee, Brazil
Coffee, Java
Coffee, other
2,617,133
43,428
269,690
Sugar,
42,340
5,858
200,374
3,410
2,265
75,000
Hides
Cotton
Manila hemp
__
Sisal hemp
Flour, bbis.
and sacks
1 1909.
2,261,200
47,878
292,019
34,650
6,137
105,227
2,502
3,364,623
1,005
2,850
77,300
69,100
85,250
402,061
45,000
8,802
128,072
8,340
LARD
on the
spot has continued to decline, with trade
Prime Western 10.25c., Middle Western
10@10.15c.
and City steam
9}4@9%c. Refined lard has also been quiet
and weaker.
Continent 10.60c., South America 11.50c. and
Brazil in kegs 12.50c.
The market for lard futures here has
been nominal.
At the West the
speculation has been active,
with the general trend of
prices upward,
dull.
owing mainly to
diminished receipts of live
hogs of late at some advance in
prices. Sentiment among many,
however, as to the ulti¬
mate course of
prices is bearish.
DAILY CLOSING PRICES OF LARD
FUTURES IN NEW YORK.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
January delivery9.92
9.95
May delivery
9.75
9.85
10.00
10.00
10.14
9.92
10.07
9.95
10.00
9.90
DAILY
CLOSING PRICES OF LARD FUTURES
IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
January delivery
9.62 kt
9.70
9.72 H
9.77)^
9.85
9.77 H
May delivery
9.45
9.52 M
9.57 y3
9.62 H
9.70
9.67
PORK on the spot steady with a somewhat
larger trade.
Mess $19 50, clear $21
@$22 50 and family $24 50. Beef
quiet and steady. Mess 815 50@$16, packet
S17@$17 50,
family $19 50@$20 and extra India mess $30 50. Cut meats,,
have been in moderate demand and
generally steady.
Pickled hams, regular,
llj/£@14c.; pickled bellies, clear,
1434@173^c., and pickled ribs 13^@15^c. Tallow quiet
and easy at 7%c. for
City. Stearines dull and steady; oleo
9%@10%c. and lard 1234c. Butter quiet and easy; cream¬
Cheese quiet and steady;
ery extras 30c.
State, Whole milk,
colored, Sept, fancy, 1534c. Eggs quiet and firmer; Western
firsts 34@36c.
»'
OIL.—Linseed quiet and easier with seed.
City, raw,
American seed, 95@96c., boiled
96@97c. and Calcutta,
raw, $1 03.
Lard quiet but firm with offerings light.
Prime
95c.@$1; No. 1 extra 65@70c. Cocoanut quiet and firm;
Cochin 10%@llc.; Ceylon
9}4@9%c. Olive has been quiet
and firm at 90@95c.
Corn in good demand and firm at
7@7.05c. Cod firmer with a good business; domestic
47@48c. and Newfoundland 50@52c.
COFFEE
the spot
firm, though less active. Rio No. 7,
13J/s@1334c. and Santos No. 4, 1334@13MC- West India
growths quiet and steady; fair to good Cucuta 14
@14 34c.
on
The speculation in future contracts has been less
active, but
prices have continued to rise under the spur of bullish reports
from Brazil regarding the statistical
position and buying for
local and foreign account.
At times reactions have occurred,
owing to rather more favorable reports from Brazil regarding
new crop
prospects. Setbacks in prices, however, have at¬
tracted new buyers.
Closing prices were as follows:
NovemberDecember
January
February
..
-
10.85c.
10.80c.
.10.80c.
10.75c.
March
April
May
June
_
-
_
..
.10.74c.
-10.74c.
-10.74c.
.10.68c.
July
August
September
October
10.66c.
10.64c.,
10.55c.
10.55c.
SUGAR.—Raw quiet and steady. Centrifugal,
96-degrees
test, 3.93c., muscovado, 89-degrees test,3.43c.,and molasses,
89-degress test, 3.18c. Refined quiet. Granulated 4.60c.
Teas have ruled steady with a routine trade.
Spices quiet
and steady.
Wool dull and steady. Hops firm with trade
fairly active.
PETROLEUM.—Prices have been steady with a moderate
domestic and foreign trade.
Refined, barrels, 7.40c.,
bulk 3.90c. and cases 8.90c.
Gasoline has been in good
demand and firm; 86-degrees, in 100-gallon
drums, 18%c.;
drums $8 50 extra.
Naphtha has been moderately active
and
firm; 73@76-degrees, in 100-gallon drums, 16%c.; drums
Spirits of turpentine quiet and easy at 7834@
79c.
Rosin quiet and easier; common to good strained $6 05.
TOBACCO.—Trade in binder has been fairly active, but
other descriptions have been rather quiet.
Prices, however,
$8 50 extra.
have ruled firm.
Havana and Sumatra have been in mod¬
erate demand and firm.
COPPER has been quiet and generally steady.
Lake
12%@13c., electrolytic 12%@12.80c. and casting 1234@
12%c. Lead has been dull and steady at 4.45@4.55c.
Spelter has been dull and firm at 5.85@5.95c. Tin has been
stronger on bullish statistics for November; trade less active
at the advance; spot 38c.
Iron has been dull and steady.
There has been considerable blowing out of furnaces of
late and the production of pig during the
past month showed
a decrease of about 100,000 tons.
No. 1 Northern $15 75@
$16 25; No. 2 Southern $15 25@$15 75.
Finished material
has been
more
active.
Dec. 2 at—
Friday Night, December 2 1910.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening, the total receipts have reached
432,629 bales, against 393,380 bales last week and 413,466
previous week, making the total receipts since
1 1910 4,516,041 bales, against 4,294,749 bales
the same period of 1909, showing an increase since Sept. 1
bales the
Sept.
New Orleans.
Galveston
Savannah
Charleston
Mobile
Norfolk
New York
Other ports
Wed.
Tues.
|
Fri.
Thurs.
Total.
2", 500
5,000
62,815
62,419
90,590
65,749
19,063
55,223
25,261 285,286
38,844 222,671
31,469 354,373
2,164
6,970
l’,506
‘4 66
23,000
Total 1910._ 113,889
65,167
Total 1909.
112,499
Total 1908.
17,572
37,178
64,592
Stock.
Total.
’800
17,542
7", 666
Leaving
Coast¬
wise.
19,000
6,954
24,091
5,000
56,307
Other
Foreign
117 39,771
3,100 127,533
1,400 11,462
600
7,600
475
27,151
19,569 19,569
5,200
47,000
4,146
6,800
4,062
8,540
_
.
Mon.
Sat.
Ger¬
many.
Great
Britain. France
bales.
jReceipts at—
Not Cleared for—
On Shipboard,
COTTON.
for
1910 of 221,292
1519
THE CHRONICLE
Deo. 3 1910,
20,014
37,235
1,000
Speculation in cotton for future
146,476
78,808
738,382
597,291
744,300
161,970
42,065
41,743
15,775
199,409
52,136
delivery has been less
active, and prices show a net decline for the week, owing
partly to persistent large receipts at the ports; also, in spite
378
of reports that there is a good spot demand at the Southt
8,373
5,730 17,422 20,473 35,301
.]
Gulfport
large quantities of cotton are being shipped to New York,
2,628
3,582
5,617
2,005
2,576
Mobile
partly, it is said, on consignment. The certificated stock
10,898
Pensacola
1
604
187
here during November increased about 94,000 bales.
New
Jacksonville, &c.
11,4571
10,663
12,108
13,642 12,044
Savannah
York seems to be a sort of magnet attracting cotton steadily
!
Brunswick
2,714|
3,705
3,523
from all parts of the South.
2,362
2,890
Significantly, too, as some re¬
Charleston
112
112
Georgetown
gard it, the deliveries on December contracts approximated
2,616 20,216
1,864
4,615
3,588
4,314
3,219
Wilmington
4,266 35,431
4,694
4,879
9,497
5,405
110,000 bales, some think 125,000 bales, and the question
6,690
Norfolk
1
487
487
is asked why such large deliveries should have been made by
N’port News, &c.
1
30
427
216
181
New York
interests supposed to be bullish, if the trend of prices is un¬
354
4,143
762j
285
1,502
341
899
Boston
2,461
5,261
2,800
Baltimore
mistakably upward. Spot sales in Liverpool of late have
1
Philadelphia
been only 5,000 to 8,000 bales a day.
Fall River’s sales of
61,309 71,173 88,150 76,059 51,249 84,689 432,629
Totals this week.
print cloths have been small. The market depression at
times in the stock market has not been without its effect.
The following shows the week’s total receipts, the total
A reported interview with a leading financier of the North¬
since Sept. 1 1910, and the stocks to-night, compared with
west, taking an unfavorable view of the general business
last year:
situation in the United States, has also had some influence.
A Liverpool house is said to have put its books in the hands
Stock.
1009.
1910.
of a public accountant.
A local dry goods house is arrang¬
Receipts to
Since Sep
This
Since Sep
This
Dec. 2.
is said, for an extension. The
ing
with
its
creditors,
it
1909.
1910.
1 1909.
week.
1 1910.
week.
suspension of a small dry goods house here was
240,619
206,341
announced on Thursday.
A large operator here is
108,565 1,655,737 85,404 1.474,840
Galveston
46,901
8,000
13,083
77,849
Port Arthur—
said
been
to
have
selling
out January and buying
2.378
122.406
21,780
1,382
Texas City, &c_.
186,247
151,571
574,232
101,132
620,554 35,292
July.
A
prominent
spot
house
is supposed to have been
New Orleans
723
7,981
3,950
3,050
3,950
Gulfport
buying January but selling March. A rather bearish gin¬
41,515
68,894
140,191
7.068
130,392
18,261
Mobile
78,109
34,970 22,694
ning report is expected from the Census Bureau on Dec. 8.
11,173
Pensacola.
12,212
13,083
Galveston
Port Arthur
Texas City, &c
New Orleans
13,461;| 15,117
32,878
15,562
19,335 108,565
13,083
2,000
2,378
13,833 101,132
3,950
3,950
1,853 18,261
275
11,173
608
1,399
11,929 71,843
16,250 16,250
3,324 18,518
....
_
_
_
—
.
....
—
^
_
■'
.....
:
...
-
—
—
.
10,734
870,349
122,091
200,171
22,061
2,506
27,024 1,003,470
172,044
1,240
164,697
3,704
Brunswick
Charleston
1,399
71,843
16,250
18,518
Georgetown
Wilmington
Norfolk
112
656
20,216
35,431
282,150
323.064
4,219
13,767
487
427
2,208
763
255
222
&c_
173,432
26,319
49,665
136,725
48,856
35,344
7,808
33,109
204,609
16,712
2,375
131,635
2,496
18,815
1,155
432,629 4,516,041 216,389 4,294,749 1,023,668
819,962
N’port News, &c_
New York
Boston
Baltimore
2,266
10,401
46,093
4,143
5,261
607
2,799
239,295
305,792
7.010
2,766
4,112
28,259
50
602
Philadelphia
Total
14,736
39,055
924
comparison may be made with other years,
give below the totals at leading ports for six seasons:
In order that
we
1909.
1910.
Receipts at—
85,404
9,382
35,292
7,068
27,024
1,240
3,704
4,219
13,767
108,56>
15,461
101,132
18,261
71,843
16,250
18,630
20, 16
35,431
Galveston
Pt. Arthur,&c.
New Orleans.
Mobile
Savannah
Brunswick
Charleston, &c
Wilmington..
Norfolk
Total this wk_
4
1907.
1906.
159,853
9,565
108,600
18,121
63,782
22,748
7,490
14,334
31,711
102,483
144,713
5,542
94,508
16,621
64,574
8,423
6,453
20,608
100,069
12,908
67,848
3,987
8,534
17,350
32,039
20,872
24,760
86,013
13,873
67,447
8,869
53,815
7,623
4,389
10,950
30,686
487
763
413
746
987
26,353
28,526
21,340
22,485
22,657
16,060
32,629
216,389
457,544
367,134
431,459
300,712
N’port N., &c
All others
1905.
1908.
Since Sept. 1. 4,516,041 4,294,749 4,826,029 3,667,116 4,696,656 4,336,915
The exports
for the week ending this evening
reach a total
281,593 bales, of which 138,186 were to Great Britain,
39,293 to France and 104,114 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1910.
of
Week
ending Dec. 2 1910.
From Sept. 1 1910 to Dec.
Exported to—
Exported to—
Exports
from—
Conti¬
Great
Britain. Fr ’nee nent.
Galveston
Port Arthur
Texas Cltv, &c.
New Orleans..
Mobile ..;
Pensacola
Gulfport
Savannah
Brunswick.
Charleston.
55,438 20,277
...'
51,887 16,304
_
..
Total.
18,898 94,613
12,409 12,409
5,918 74,109
10,898
10,898
24’, 538
40,176
7,481
Great
Britain.
Conti¬
France.
578,288 187,876
15,441 14,572
98,906
295,656 41,296
7,405
11,601
9,963
9,207
15’, 63 8
7,481
..
Wilmington
—
13,508
13,508
Norfolk
Newport News
New York
Boston
Baltimore
4",551
2,712
3’,984 ll’247
9.573
....
Philadelphia
Portland, Me..
.
Total 1909
158,358
47,721
8,518
25,636
Total.
.
452,670 1,218,834
77,849
47,836
101,049
2,143
433,160
96,208
32,927
13,921
34,995
15,825
20b"103
41l", 443
9,900
19,290
44,607
59,192
120,897
74,455
75,062
223,580
10,406
4
47*626
2,S00
61
90.568
3,157
32,307
1,400
296",552
17’396
17* 396
15,895
2,955
15,895
2,955
400
400
—
2,047
1,098
1,198
2’047
1,098
1,198
—
—
—
50,878
43,625
27,036
which, with the
sharp increase in the crop movement, has militated against
a rise m prices.
Western and Wall Street houses have been
sellers.
In a word, the recent aggressive bull speculation
has met with a check.
Yet some well known people still
predict higher prices. Manchester has continued strong and
The outlook for the Far Eastern trade is regarded
active.
as favorable.
Some increase in business with China seems to
be expected here.
If receipts have been large, the exports at
times have also been liberal, and some insist that the large
receipts merely indicate that much of this cotton is in transit
to Europe in response to an excellent foreign demand.
The
short interest for Manchester account in Liverpool is said to
be rather large.
Seasonable weather has favored retail trade
in dry goods in many parts of the country.
Spot markets
at the South give way grudgingly in response to any setback
in the speculative markets.
Spinners have been buying
futures here.
On the whole, the trade is awaiting two im¬
portant documents next week, namely the Census Bureau’s
ginning report on Dec. 8 and the Government’s estimate of
the crop on Friday, Dec. 9.
To-day prices declined. Spot
cotton here has been quiet.
Middling uplands closed at 15c.,
a decline for the week of 10 points.
The rates on and off middling, as established Nov. 16 1910
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
Fair
Strict mid. fair
Middling fair
Strict good mid
Good middling
Strict middling
46.604 69,410 126,152 242,166 1,161,657 620,470 1,320,585 3,102,712
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
In addition to above exports,
New York.
0.25 off
off
off
Middling stained. .0.75 off
Middling tinged
Strict low,Mid.ting.0.60
Low mid. tinged
1.50
.
in the
15.15
Middling uplands
NEW YORK
1910.c._....15.00
...14.70
1909
9.35
1908
...11.80
1907..
...11.25
1906
1905
...11.65
9.00
1904
1903
...11.95
.
.
...
_
..
._
...
..
...
__
._
._
...
Total
1885
1884
1883
1882
1881
1880
1879
...
...
...
...
9.19
9.44
...10.50
...10,56
...10.44
...12.12
...12.00
...12.50
1886.C
5.81
1894.C—
8.06
1893.-..
9.62
1892
8.06
1891
9.44
1890
...10.25
1889
9.88
1888
...10.62
1887
...
...
...
...
...
...
AT NEW YORK.
Sales of Spot
Futures
.
Fri.
15.00
QUOTATIONS FOR 32 YEARS.
8.55
1902.c...
8.00
1901
...10.25
1900
7.75
1899
5.62
1898
5.81
1897...
7.69
1896
8.56
1895
MARKET AND SALES
Saturday..
Monday
Tuesday
Wednesday
Thursday
Friday
15.15
15.05
15.10
15.00
and Contract.
Market
Con-
Closed.
Spot. sum’n.
~
138,186 39,293 104,114 281.593 1,544,722 386,264 1,217,541 3,148,527
Good mid. tinged.c Even
Strict mid, linged. .0.15 off
Middling
c_
Basis
Strict low, mid
0.25 off
Low middling
0.60 off
Strict good ord
1.05 off
1.75 off
0.44 on Good ordinary
0.22 on Strict g’d mid. tgd_0.35 on
1.50 on
1.30 on
1.10 on
0.66 on
The official quotation for middling upland cotton
New York market each day for the past week has been:
Nov. 26 to Dec. 2—
Sat.
Mon. Tues. Wed. Thurs.
..
#
c_
Closed.
~
Liverpool
but late.
Spot Market
Pembina
Detroit
Total
29,848
6,000
83,393
10,345
—
San Francisco
Seattle
Tacoma
Portland, Ore.
2,137
1,099
9,573
2,137
1,099
165’ 804
nent
5’, 53 6
----
..
2 1910.
their
The recent low crop-estimates are apparently losing
effect in the face of continued large receipts at the ports and
interior towns, apparently bearing out the statement some
time ago that the crop was a liberal one
and the South have been selling.
Yarns have been quiet.
The speculation, moreover, has been narrow,
5 pts. adv. _ Very steady
Quiet, 15 pts. dec.. Barely steady
Quiet, 10 pts. adv__ Steady
Quiet, 5 pts. dec.. Barely steady
Quiet, 10 pts. adv__ Steady
Quiet,
_
Quiet, 10 pts. dec.. Barely steady
»
Con¬
tract.
....
-
-
-
•
-
—
Total.
....
•
.
.
Jacksonville,
Savannah
—
—
—
-
-
-
-
-
-
-
....
400
400
109900 109900
9,400 9,400'
119700 119700'
1520
THE CHRONICLE
FUTURES.—The highest, lowest and
closing prices at
New York the past week have been
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j
09
H*
LXXXXI.
AT THE INTERIOR TOWNS the
movement—that is,
the receipts for the week and since
Sept. 1, the shipments
for the week and the stocks
to-night, and the same items for
the corresponding period for the
previous year—is set out
in detail below.
follows:
as
(jVOL.
1
•M
1
hi*2
Ss
C W
1
5? cd o
si si
S3 w
O 1
Cd
Sept.-
3
S3 w
cd O
[xo
Ri Cl
O
THE
VISIBLE SUPPLY OF COTTON
to-night, as
by cabie and telegraph, is as follows.
Foreign
stocks, as well as the afloat, are this week’s
returns, and
consequently all foreign figures are brought down to Thurs¬
made up
day evening. But to
to-night (Friday),
for
United
make the total the
we add the item of
complete figures
exports from the
States, including in it the exports of Friday
only.
December 2—
1910.
Stock at Liverpool
Stock at London
bales.
Total Great Britain stock
Stock at Hamburg
Stock at Marseilles
Stock at Barcelona
639,000
3,000
53,000
1909.
948,000
7,000
56,000
692,000 1,011,000
3,000
4,000
155,000
238,000
161,000
392,000
2,000
2,000
8,000
8,000
35,000
48,000
1,000
.
Stock at Trieste
—
364,000
693,000
1908.
538,000
10,000
1907.
683,000
37,000
17,000
51,000
585,000
14,000
326,000
184,000
4,000
21,000
37,000
6,000
751,000
16,000
164,000
133,000
4,000
12,000
18,000
28,000
592,000
375,000
1,05’,000 1,704,000 1,177,000 1,126,000
80,000
104,000
60,000
43,000
Europe.
785,236
723,589 1,009,462
Egy,pt,Brazil,&c.,aftt.for Europe
936,750
89,000
63,000
Stoc;k In Alexandria,
68,000
82,000
Egypt:
257,000
212,000
Stock In Bombay, India
233,000
195,000
205,000
295,000
174,000
Stock In U. S. ports
310,000
1,02 >,638
819,962
Stock In U. S. Interior towns
1,098,673
835,668
777,378
736,41.6
U. S. exports to-day
846,344
496,434
50,857
17,507
75,813
India cotton afloat for
Europe
Amer. cotton afloat for
_
.
28,660
Total visible supply
4,
4,3-4,139 4,675,474 4,742,292
4,053,512
Of the above, totals of
American and other
descripitons are as follows:
American—
.
Manchester stock
Continental
43,000
339,000
785,236
.1,0-3,668
stock.
.
American afloat for Europe.
U. S. port stocks
U. S. Interior stocks
U. S. export* to-day.
.
.
777 378
50,857
862,000
49,000
437,000
32,000
544,000
669,000
723,589 1,009,462
819,962 1,098,673
736,416
846,344
17,507
75,813
576,000
88,000
3,000
7,000
25,000
hO.OOO
•SO,000
.
stock
stock
India afloat for Europe.
Egypt, Brazil, &c., afloat.
Stock In Alexandria,
Egyi
Stock in Bombay, India.
.
_
.
.
86,000
7,000
7,000
AND
showing the
overland movement for the week and since
Sept. 1, as made
up from telegraphic reports Friday
night.
The results for
the week and since
Sept. 1 in the last twro years are as follows:
-1910-
December 2—
Via
Via
Via
Via
Via
Via
Via
-1909Since
Shipped—
St. Louis
.
Cairo.
Rock Island
Louisville
Cincinnati
._
__
.
..
_
Week.
.31,345
13,134
2,372
6,592
4,117
7,144
9,418
__
Virginia points
other routes, &c
_
..
Total gross overland
..74,122
Deduct shipments—
Overland to N. Y., Boston, &c_
9,331
Between interior towns
1.020
Inland, &c., from South
1,847
._
.
._
Total to be deducted
Since
Sept. 1.
177,930
106,532
Week.
18,427
9,303
1,373
Sept. 1
156,126
82,315
16,947
44,282
28,043
60,807
60,978
1,960
7,482
16,923
4,775
31,609
16,494
44,211
68,764
495,519
58,950
404,294
58,760
13,147
20,524
3,326
4,799
1,805
35,739
10,488
15,175
3,482
-.12,698
92,431
9,930
61,402
..61,424
403,088
49,020
342,892
Leaving total
835,668
496,434
28,660
The foregoing show’s the week’s net
overland movement
lias been 61,424
bales, against 49,020 bales for the week last
year, and that for the season to date the
aggregate net over¬
land exhibits an increase over a
year ago of 60,196 bales.
257,000
205,000
104,000
63,000
212,000
295,000
101,000
10,000
5,000
48,000
60,000
68,000
233,000
*
174,000
310,000
754,000
798,000
699,000
843,000
24,000
OVERLAND MOVEMENT FOR THE
WEEK
SINCE SEPT. 1.—We give below a statement
39,000
293.000
936,750
-3,5.0, !39 3,877,474 4,043,292
3,205,512
East Indian, Brazil, &c.
stock
London stock
Liverpool
Manchester
Continental
551,000
.
The above totals show that the
interior stocks have in¬
creased during the week
65,499 bales and are to-night 40,962
bales more than at the same time last
year.
The receipts
at all the towns have been
169,538 bales more than the same
week last year.
107,000
17,000
12,000
82,000
43,000
82,000
195,000
*
Including
In
net overland *
movement
by rail
to Canada.
-1910-
Sight and Spinners’
Takings.
Total marketed
Interior stocks in
545,053
65,499
excess
.3,570,139 3,877,474 4,043,292 3,205,512
5,477,129
726,600
Since
Week.
216,389
40,020'
52,000
Sept. 1.
4,294,749
342,892
702,000
317,409
38,657
5,339,641
653,253
356,006
Total
visible supply..
.4,324,1 39 4,675,474 4,742,292 4,053,512
Middling Upland, Liverpool
8."6d.
7.72d.
4.97d.
G.35d.
Middling Upland, New York
15.00c.
10.75c.
9.35c.
12.05c.
Egypt, Good Brown, Liverpool. 11 U-16d.
12
9 l-16d. 10 9-16d.
Peruvian, Rough Good, Liverpool1 10.75d.
9.25d.
7.90d.
11.75d.
Broach, Fine, Liverpool..
7 9-16d.
4 %d. 5 13-16d.
7k'd.
Tinnevelly, Good, Liverpool
7^d. 6 15-16d. 4 ll-16d.
5 7-16d.
-1909Since
Week.
Sept. 1.
Receipts at ports to Dec. 2
.432,629
4,516,041
Net overland to Dec. 2..
61,424
403,088
Southern consumption to Dec. 2.
51,000
555,000
6,203,729
North, spinners’ taklngto Dec. 2._
87,271
949,983
5,992,894
102,407
897,627
.
.
the past week have been
bales.
.
129,000
.
The above
figures for 1910 show an increase over last week
248,861 bales, a loss of 351,335 bales from
1909, a
•decrease of 411,153 bales from
1908, and a gain of 2T0,627
«f
bales
over
1907.
Movement into sight in previous
years:
Week—
1908—Dec.
1907—Dec.
1906—Dec.
1905—-Dec.
5.
6
7
8...
Bales.
Since Sept. 1—
602,712 1908—Dec. 5
.471,958 1907—Dec. 6...
574,885 1906—Dec. 7
436,111 1905—Dec. 8
Bales.
6,657,410
4,970,046
6,263,857
:._____5,844,270
QUOTATIONS FOR MIDDLING COTTON AT
MARKETS.—Below are the closing quotations of OTHER
cotton at Southern and other
each day of the week.
principal ootton
middling
markets for
THE CHRONICLE
Deo. 3 1910.)
Charleston, South Carolina.—We have had rain
Closing Quotations for Middling Cotton on—
December 2.
Galveston
New Orleans...
Mobile
Savannah
Charleston
Wilmington
Norfolk
Baltimore
Philadelphia
Augusta
Memphis
St.
T.rmls
Houston
Little Rock
.
Sat'day,
Monday, Tuesday, Wed'day. Thursd’y, Friday,
15
14 %
14 9-16
15
14 &
14 9-16
14%
14%
14 %
14 %
14%
15,40
14$*
15
15
15
14%
14%
14 %
14%
14%
14 11-16
14 11-16
14 9 16
14 9-16
14 9-16
14 9-16
14%
14%
14%
14 13-16
14%
15.30
14%
15%
14%
14 9-16
14%
14 9-16
14%
14 13-16
14%
15.35
14 13-16
15%
15%
15
14 11-16
15
14 11-16
14 %
14%
14 13-16
14%
15.25
14 13-16
15%
14 %
15 %
15 %
15
14 %
14 13-16
15.40
14%
14%
15.25
14 13-16
14 13-16
14 11-16
15%
15 %
14%
15%
15 %
14%
15 %
14 11-16
14 11-16
14 11-16
14%
15%
14%
NEW ORLEANS OPTION
MARKET.—The highest,
lowest and closing quotations for leading options in th eNew
Orleans cotton market for the past week have been as follows
Sat’dav,
Monday, Tuesday, Wed'day, Thursd'y,
Nov. 26.
Nov. 28.
Nov. 29.
Nov. 30.
Dec. 1.
Friday,
Dec. 2.
November—
Range
Closing
@
—
14.83
—
*
—
@
14.69
—
*
—
@
14.76
—
*
—
—
@
—
@
—
—
—
—
—
—
—
@
—
—
December—
Range
Closing
January—
Range
Closing
February—
Range
Closing
14.73-.87 14.62-.92 14.63-.82 14.71-.78
14.86-.87 14.72-i.74 14.80-.81 14.75-.76 14.78
14.62-.70
—
1521
14.60-.61
being 76 and the lowest 29.
Madison, Florida.—We have had rain on twTo days of the
week, the precipitation reaching four inches and twenty
hundredths.
The thermometer has averaged 50, the high¬
est being 79 and the lowest 29.
Savannah, Georgia.—We have had rain on two days during
the week, the rainfall being forty-four hundredths of an inch.
Average thermometer 53, highest 76, lowest 29.
The following statement wre have also received by tele¬
graph, showing the height of rivers at the points named at
8 a. m. of the dates given:
Dec. 2 1910.
Feet.
New
Orleans
Memphis
___
@
15.09
—
*
—
@
14.93
—
*
—
—
14.99
*
—
@
15.00
(n)
—
*
14.98
—
*
@
14.80
April—
Range
Closing
May—
Range
Closing
Range
Range
Closing
•
12.7
of gauge.
of gauge.
of gauge.
11.5
7.7
4.8
1.1
15.4
zero
Below
Above
zero
zero
1.4
EAST INDIA COTTON MILLS.—Through the courtesy
of the Secretary of the Bombay Millowners’ Association, we
have received this week a statement of operations for the
year
ended June 30 1910, and they
are
Approximate
Average
No. of
Quantity of Cotton
No.
No.
No.
®
15.37
—
•
—
@
15.15
—
*
(a)
15.28
-—
•
—
@
15.20
—
—
*
@
15.22
—
*
—
@
15.03
—
*
15.36-.47 15.29-.51 15.19-.42 15.27-.42 15.28-.38 15.09-.27
15.46-.47 15.30-.31 15.37-.38 15.28-.29 15.31-.32 15.10-.il
<»
15.52
-
—
•
(3>
15.35
—
—
•
—
@
15.42
—
—
*
@
15.35
—
*
—
—
15.38
*
—
@
—
15.17. *
15.48-.56 15.40-.61 15.30-.51 15.37-.45 15.37-.46 15.18-.31
15.56-.58 15.40-.41 14.46-.48 15.37-.38 15.40-.41 15.19-.20
Firm.
Steady.
Steady.
Steady.
Steady.
Steady.
Steady.
Steady.
Steady.
Steady.
WEATHER
course
of erection)
41,931 104,550 3.444,203
984,058
1,545,178
23,540
361,592
187
4,369,224
65,471 159,801 4,709,775 1,345,650
3
2
8
3
3
15
8
32,800
38,472
203,672
58,970
63,208
431,479
131,220
14
12
1
2
5
*263
6,195,671
_
85
__
__
_
Berar
Central Provinces
—
—
Hyderabad
Central India
REPORTS
BY
TELEGRAPH.—Our
Bengal Presldency_a_
re¬
ports from the South this evening by telegraph indicate that
on the whole the weather has been fairly favorable during
the week.
Rain has fallen in most localities, but, except at
a few points,
the precipitation has as a rule been light.
Lower temperature has prevailed toward the, close.
Good
progress has been made in gathering the crop, and some of
our correspondents state that picking in thgjr sections is
practically completed.
Galveston, Texas.—We have had rain on one day during
the week, the precipitation reaching thirty hundredths of
an
inch.
The thermometer has ranged from 42 to 70,
averaging 56.
Abilene, Texas.—Dry all the week. Average thermometer
46, highest 64 and lowest 28.
Palestine, Texas.—We have had rain on two days of the
past week, the rainfall being five hundredths of an inch.
The thermometer has averaged 49, ranging from 30 to 68.
San Antonio, Texas.—-We have had no rain the past week.
The thermometer has averaged 49, ranging from 38 to 66.
Taylor, Texas.—There has been rain on two days the past
week, the rainfall Teaching three hundredths of an inch.
The thermometer has averaged 51, ranging from 34 to 68.
Mobile, Alabama.—Freezing weather latter part of the
week in the interior.
Picking is practically completed. It
has rained on one day of the week, the rainfall reaching
five hundredths of an inch.
The thermometer has averaged
57, the highest being 78 and the lowest 29.
Montgomery, Alabama.—There has been rain on two days
of the wreek, to the extent of twro inches and seventy-five
hundredths. The thermometer has averaged 53, ranging
from 28 to 78.
Selma, Alabama.—Rain has fallen on two days during the
week, the precipitation reaching seventy-one hundredths
of an inch.
The thermometer has ranged from 23 to 75,
averaging 48.
New Orleans, Louisiana.—It has rained on one day during
the past week to the extent of fifty hundredths of an inch.
The thermometer has averaged 55.
Shreveport, Louisiana.—There has been rain on one day
during the week, the rainfall being two inches and thirteen
hundredths. Average thermometer 50, highest 70, low-
est 29.
United Pres, of Agra
& Oudh.b
Madras Presidency c
Travancore
Vicksburg, Mississippi.—There has been rain on one day
week, to the extent of eighty-eight hundredths of an
inch.
The thermometer has averaged 50, the highest being
75 and the lowest 28.
Total
the week, to the extent of
sixty-two
The thermometer has averaged
on
two
days during
hundredths of an inch.
47.2, ranging from 24 to 75.
Memphis, Tennessee.—Picking active and marketing
liberal.
We have had rain on one day during the week, the
rainfall being twenty-one hundredths of an inch. Average
thermometer 47.5, highest 74, lowest 25.
Charlotte^ North Carolina.—Fields are picked clean. There
has been rain on one day of the
week, the rainfall being nine
-hundredths of an Inch. The thermometer has averaged
44,
ranging from 21 to 66.
579
2,500
1,948
11,236
2,798
2,826
10,909
3,530
398,360
344,528
25,580
3,775
2,023
12,745
18,150
28|448
223
69,730
1,629
1,111
830
3,463
774
1,229
1,618
15,294
14,840
86,420
20,394
19,758
111,800
27,804
53,529
51,940
302,470
71,379
69,153
391,300
97,314
129,882
119,078
8,276
454,587
419,923
28,966
17,472
104,727
672
1,844
4,665
4|092
29,922
82,725 233,624 6,772,535 1,935,010
*
Of these, 243 are working and 20 In course of erection,
a Including 2
In course of erection,
b Including 1 In course of erection,
c Including 1 In
course of erection.
We now give a table covering information identical with
the totals given above, which indicates the progress made in
cotton-manufacturing in India during the past 32
PROGRESS OF
INDIAN
MILLS
No.
Year ending June 30.
DURING
ATo.
No.
!
of
of
I of
Mills. Spindles. Looms.
*■
\
1879
1884
1889
1894
1899
1900._
1001
1902
1903
,
1904
1905
1906
1007.,
1908
1909
1910
56
79
124
142
188
193
193
102
192
191
107
217
1,452,794
2,001,667
2,762,518
3,649,736
4,728,333
4,045,783
5,006,936
5,006,965
5,043.297
5,118,121
5,163,486
5,279,595;
224
241
259
263
5,333,275
13,018
16,262
21,561
31,154
39,069
40,124
41,180
42,584
44.092
45,337
50,139
PAST
THE
years:
YEARS.
32
Average
No. of
Approximate
Quantity of Cotton
Hands
Em¬
Consumed.
ployed.
Daily.
Bales of
392 Lbs.
Cwts.
42,914
60,387
91,598
130,461
162,108
161,189
172,883
181,031
184,390
184,779
195,277
52,668 2081616
58,436 205,696
67,920 221,195
6,053,231j 76,898 236,924
6,195,671 82,725 233,624
5,756,020
936,547
267,585
531,365
1,859,777
3,110,289
888,654
4,278,778 1,222,508
5,8631165 1,675,190'
5,086,732 1,453,352
4,731 ;090 1,8511740
6,177,633 1,765,038
6,087,690 1,739,430*
6.106,681 1,744,766
6.577,354 1,879,244
7,082.306 2,023,516
6,930,595 1,980,1708,970,250 1,991,5007,381,500 2,109,0006,772,535 1,935,010-
EXPORTS OF BREADSTUFFS, PROVISIONS,^COT¬
TON AND PETROLEUM.—The exports of these articles
during the month of October and the ten months, forjthe
past three years, have been as follows:
1910.
Exports.
from
October.
V.8.
10 Months.
Wheat, bu.
Flour bbls.
3,210,364 16,782,189
929,204
6,368,774
Wheat*bu
7,391,782 45,441,672
3,188,878 30,330,829
Total bu..
Values.
10,580,660 75,812,501
Barley
Rye
724,852
28
-
October.
10 Months :
10 Months.
8,561,978 34,780,964 12,032.146 79.634.925
1.215,828 10,584,5.9
7,426,098
1,180,421
17,503,372 127,166,3 ft
1,760,416 27,526,950
13,873,872 68,198,405
2,068,646 27,262.363
15.942.518 95.460.768 19,283,792 154,692,345
$
7,715,031 49,714,692
1,917,345 21,087,379
1.137,089
202.037
...
Breadst’fs.
October.
8
Wh*t«kfl*r.
C’mdtmeal
1908.
1909.
Quantities.
O’ts&meal
have had rain
_
Mysore
Pondicherry
Corn _.bu.
of the
Helena, Arkansas.We
Punjab
_
55,251 1,265,572
13
__
Total
_
Bales of
392 Lbs.
Cwts.
2,824,046
(In course of erectlon)
Rajputana
ployed.
Daily.
3
Bombay
Presidency
(working)
Bombay
Presidency
—
Steady.
Steady.
86
Bombay Isl. (work’g)
(In
Bombay Island
Consumed.
Hands
Era-
of
of
of
Mills. Spindles. Looms.
15.15-.28 15.09-.33 15.00-.22 15.08-.22 15.10-.19 14.92-.08
15.27-.28 15.10-.il 15.18-.19 15.09-.10 15.12-.13 14.93-.94
—
given below:
OPERATIONS FOR YEAR ENDED JUNE 30 1010.
,
Nominal.
6.1
3.6
Above
*
Tone—
Spot
Options
2.6
of gauge.
Nashville
—
June—
Closing..
July—
of gauge.
zero
8
8
S
14,407,563 75.031,551 18.031,777 128,690,142
1,507,282 20,491,471
1,353,586 19.367,963
989.222
100.187
381,050 2,304.747
200,767
122.092
40,632
1,007,763
2,609,716
424,030
998,728 2,988,860
13,917
2,328,235
10,559,293 74,562,763 16,479,694 99.131,246 20,867,233 154,359,475,
Range
zero
Above
Shreveport
Vicksburg
March—
Closing.
Dec. 3 1909.
Feet.
Above
14.88-.99 14.80-.04 14.70-.93 14.80-.91 14.80-.91 14.66-.84
14.98-.99 14.82-.83 14.89-.90 14.82-.83 14.85-.86 14.67-.68
—
day
on one
of the past week, the rainfall being fifty-two hundredths of
an inch.
The thermometer has averaged 53, the highest
-
-
*
7,791,047 89,527,800 8.736,740 112,286,05$ 11.933.312 134,060,708
6,544,870 1,179,132 12,823,511 1,678,500 20.946.329
728,904
C'ttle&ngs
Cotton... 92,551,094 339,621,914 88.883,350 328.526.864 58,291.264 303,467,448
Pet’m.Ac.
7,169,829 74,712.901 8,355,404 83,444,819 9,112,739 90.679,893
Provisions
.
Tot’l value 118,800,257 584.970,338 123,634.320 636,212,493 101.788.048 702,913,853-
‘Including flourjreduced to bushels.
thefabove figures are based
.
•.
,
n
'
on'the monthly preliminary returns issued
byttheJBureauSof^tatistics.'and cover about 96% of the total exports.
& j|
Note.—All
1522
THE CHRONICLE
WORLD’S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
Week.
Visible supply Nov. 25
Visible suppiy Sept.
1909.
1910.
4,075,271
4,534.640
1
356,066
107,000
3,000
57,000
10,000
1,931,022
5,992,894
469,000
62,000
415,000
76,000
4,826,823
8,663,243 5,067,706
8,945,916
4,324,139
4,324,139 4,675,474
4,675,474
392.232
330.232
62,000
4.270.442
3.569.442
Amerlcan'lh sight to Dec. 2
Bombay receipts to Dec. 1
Other India shlp’ts to Dec. 1
Alexandria receipts to Nov. 30Other supply to Nov. 30*
1,495,514
6,203,729
293,000
53,000
536,000
82,000
610,552
70,000
4,000
60,000
7,000
Total supply
Season.
Week.
Season.
Deduct—
Visible supply Dec. 2
Total takings to Dec. 2
Of which American
502.684
392.684
110,000
_
Of which other
*
4.339.104
3.427.104
912,000
701,000
Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
COTTON CONSUMPTION AND OVERLAND MOVE¬
MENT TO DEC. 1.—Below we present a. synopsis of the
crop movement for the month of November and the three
months ended Nov. 30 for three years:
1910.
Gross overland for November
.bales
Gross overland for 3 months
Net overland for November
Net overland for 3 months
Port receipts In November
Port receipts in three months.
Exports in November
Exports In 3 months
Port stocks on Nov. 30
Northern spinners’ takings to Dec. 1
Southern consumption to Dec. 1.
Overland to Canada for 3 months (in¬
cluded In net overland)
Burnt North and South in 3 months
Stock at North. Interior markets Dec. 1.
Came In sight during November
Amount oFcrop in sight Dec. 1
Came In sight balance of season.
Total crop
305.504
_
_
__
_
...
._
_
__
474,971
263,096
387,707
1,706,053
4,380,103
1,140,510
3,075,521
973,986
924,847
540,000
325,714
538,437
278,564
459,456
1,862,286
4,540,973
1,348,290
3,150,422
1,032,322
993,382
570,000
39,487
32,598
26,998
115
7,936
2,451,149
6,022,810
__
_
___________
Average Gross weight of bales
Average net weight of bales
INDIA COTTON MOVEMENT
Receipts at—
Bombay.-
1909.
.
Since
Week.
...
Week.
Great
—
Britain.
460.000
Sept. 1.
43.000
1ST
,000
Since Sc? tember 1.
-
Total.
14,000
45,000
8,000
17,000
66,000
21,000
--
-
Calcutta—
1910
1909
1908
Madras—
1910
1909
1008
All others—
1910
1909
1903
2,000
1,000
2,000
Total all—
1910
1909
1908
4,000 16,000
3,000 47,000
3,000 10,000
1,000
i,66o
1,000
19,000
13,000
Great
Britain.
5,000
6,000
1,666
,
2,666
3,000
2,000
2,000
•
-
-
-
_
Conti-
Javan
nent.
& China.
Total.
62,000
86,000
66,000
5,000
7,000
9,000
10,000
1,000
3,000
2,000
7,000
4,000
7,000
2,000
10,000
1,000
19,000
21,000
69,000
18,000
21,000
15,000
28,000
10,000
—
152,000
102,000
93,000
10,006
4,000
219,000
194,000
159,000
7,000
9,000
23,000
8,000
8,000
11,000
1,000
28,000
35,000
48,000
4,000
38,000
45,000
56,000
192,000
148,000
157,000
62,000
87,000
82,000
272,000
256.000
249,000
November 30
1910.
1909.
This week
Since Sept. 1
450,000
4,019,031
This
Since
Week. Sept. 1.
430,000
2,694,085
To Liverpool
To Manchester
To Continent
To America
This
Since
Week. Sept. 1.
12,750 98,051
9,000 82,579
8,500 100,986
5,750 30,548
Total exports
5.250
8,750
6.250
5.250
36,000 312,164
Note.—A cantar Is 99 lbs.
This
Since
Week. Sept. 1.
62,843
50,099
11,500
93,281
21,699
9’, 500
3,750
52,200
38,587
80,656
14,412
25,500 227,922 124,750 185,855
Egyptian bales weigh about 750 lbs.
MANCHESTER MARKET.—-Our report received bv cable
to-night from Manchester states that the market continues
firm for both yarns and
shirtings. Spinners are considered to
be well under contract. We
give the prices for to-day below
and leave those for previous
weeks of this and last year for
comparison:
Cop
d.
111-16®
©
104 @
Nov
4
1013,6 @
11
10l6ie ©
18 Hr
@
25
114
©
•Dec.
2 11 3-16®
d.
s.
5
5
114 5
11*4
114
114 5
114 5
114 5
12
5
124 5
d.
Bridge,
30—Guatemala,
5,900
13,054
3,250
1,000
100
4,814
4
PENSACOLA—To Bremen—Nov. 28—August Belmont. 10,898..
SAVANNAH—To Liverpool—Nov. 29—Louisianian, 6,052
Nov.
30—Craigard, 9,586
To Bremen—Nov. 29—Clan Macklnnon, 6,416
Nov. 30—
Elloe, 6,747; Mendibll Mendl, 11,050
To Gothenburg—Nov. 29—Clan Macklnnon, 25
To Oporto—Nov. 29—Clan Macklnnon, 100
To Reval—Nov. 30—Elloe, 200
BRUNSWICK—To Bremen—Nov. 30—Saint Irene, 7,481
WILMINGTON—To Bremen—Nov. 25—Urklola Mendel, 13,508..
BOSTON—To Liverpool—Nov. 23—Devonian, 2,788
Nov. 26—
Sagamore, 2,566
Nov. 28—Cymric, 3,210
To Manchester—Nov. 25—Iberian, 1,009
BALTIMORE—To Bremen—Dec. 1—Koln, 1,137.
To Hamburg—Nov. 26—Patricia, 1,000
PHILADELPHIA—To Liverpool—Nov. 25—Friesland, 1,099
SAN FRANCISCO—To Japan—Nov. 29—Siberia,
2,047...:
SEATTLE—To Japan—Nov. 30—Titan, 1,098
TACOMA—To Japan—Nov. 24—Suverlc, 1,198
10,898
15,638
24,213
25
100
200
7,481
13,508
8,564
1,009
1,137
1,000
1,099
2,047
1,098
1,198
281,593
LIVERPOOL.—By cable from Liverpool
have the fol¬
lowing statement of the week’s sales, .stocks, &c., at that port*
Nov. 11.
51,000
Sales of the week
.bales
Of which speculators took.
Of which exporters took
_
.
.
1,000
1,000
43,000
5,000
.102,000
.514,000
.429,000
.168,000
.147,000
_
.
.
Actual export.
Forwarded
Total stock—Estimated
Of which American
Total Imports of the week
Of which American
Amount afloat.
Of which American
_
...
_
.481,00Q
_.
.385,000
Nov. 18.
48,000
1,000
1,000
42,000
4,000
106,000
575,000
491,000
171,000
143,000
501,000
400,000
we
Nov. 25.
45,000
2,000
2,000
Dec. 2.
47,000
1,000
1,000
42,000
26,000
104,000
639,000
551,000
110,000
87,000
39,000
4,000
124,000
658,000
559,000
212,000
176,000
448,000
361,000
504,000
412,000
The tone of the
Liverpool market for spots and futures
day of the past week and the daily closing prices of
spot cotton have been as follows:
each
Spot.
Saturday.
Market,
}
12:15
P. M.
J
\
Sales
Monday.
Quiet.
300
Spec.&exp.
Fair
busiatss
Good
demand.
S.12
6,000
Tuesday.
Wednesday. Thursday.
Quiet.
doing.
8.19'
Fair
business
Dull.
doing.
3.06
8.14
S.03
8.06
12,000
8,000
7,000
1,000
8,000
5,000
500
300
500
400
Steady at
Steady at
opened
] Irreg. at 1 Steady at
) pr. dec. to 3@4 pts.
J 24pts adv. advance.
4@5 pts.
decline.
7 points
advance.
Market
1 Quiet
Steady at
24 @4
Barely st’y
at 1©1 4
The
below.
Friday.
at 1 Easy at 4
)pt. dec. topt. dec. to
J 4 pt. adv. 2 pts. adv.
pts. dec.
pts. adv.
Easy at
o@6 pts.
St’y, unch.
decline.
decline.
Steady at
4 ©14
Quiet at
4©6 pts.
pts.
dec.
to 1
point
decline.
prices of futures at Liverpool for each day are given
Prices are on the basis of
upland, good ordinary
clause, unless otherwise stated.
The
prices are given in pence and 100ths.
Nov. 26
to
Dec. 2.
November
Nov.-Dee.
Dec.-Jan.
Jan.-Feb.
Feb.-Mch.
Mch.-Apr.
Apr.-May.
May-J une
June-July
Juiy-Aug.
Aug.-Sep_
Sept.-Oct.
Sat.
Mon.
124
124
p.m.
p.m.
7 95
7 87
7 86
7 87
7 88
7 90
7 90
7 91
7 89
7 86
7 63
Tues.
Thus, 7 95
Wed.
means 7
95-100d.
Thurs.
Fri.
124
124
4
4
4
4
124
124
124
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
4
4 01 4
92 4
4 91 4
92 4
4 93 4
96
90
92
98 4
86 4 804 83 4 88 4 85
86
80
83
88
84 4
87
81
84
89
854
88
82
854 90 4 87
95
89 4 83 4 87
914 88 4
4 95 4 90
84
87 4 92
89
96 4 91
85
88 4 93
90
89 4 83 4 87
4 95
914 88 4
87
4 92
81
84 4 88 4 85 4
68 4 65
58
62 4
614 65
814 84 4 84
80 4 84
83
84 4 84
82
85 4 85
83
84 4 87
86
85
87 4 87
86
88 4 88
84 4 87
86
82
84 4 83
59 4 62
61
16
98
18
00
79
4 78 4
79
80
4 81 4
82
83
4 81 4
4 78 4
56
17
14
99
96
1909.
84 lbs. Shirtings, common
to finest.
Twist.
Putney
10,262
Oct -Nov.
1910.
11
5,187;
To Dunkirk—Nov. 30—Guatemala, 3,250
To Antwerp—Dec. 2—Coronation, 1,000
To Christiania—Nov. 26—Noruega, 100
To Genoa—Nov. 26—Prlnclpessa Laetltia, 4,814..
To Havana—Nov. 28—Excelsior, 4
P. M.
1
Exports (bales) —
25—Numantia,
5,075
4
1908,
430,000
3,113,524
20 277
_
To Antwerp—Nov. 25—Hornby Castle, 2,522
2,522
To Ghent—Nov. 25—Hornby Castle, 6,114
6,114
PORT ARTHUR—To Bremen—Nov. 26—Bedouin, 12,409
12,409
NEW ORLEANS—To Liverpool—Nov. 26—Mechanician, 20,795
Dec. 1—Engineer, 22,000
Dec. 2—Inventor 17,000. 49,795
To London—Nov. 26—Tampican, 2,092
2,092
To Havre—Nov. 26—Californio, 7,154
Nov.
Futures.
Market
Receipts (cantars)—
28
_
Mld.Upl’ds
Alexandria, Egypt,
Oct
14
21
7 229
To Hamburg—Nov.
._
ALEXANDRIA RECEIPTS AND SHIPMENTS.
32s
,
Sales, American
2,000
2,000
4,000
2,000
2,000
4,000
1,000
2,000
•
_
Conti- Javan
nent.
AChina
2,000
2,000
...
—
Bombay—
1910
130)
1908
Total bales.
NEW YORK—To Liverpool—Nov. 26—Baltic. 368 upland, 240
Sea Island, 5 foreign
613
To Manchester—Nov. 28—Thespis, 3,062
3,062
To London—Nov. 25—Mesaba, 500
500
To Hull—Dec. 1—Galileo, 376
376
To Havre—Nov. 26—Caroline, 1,212; Chicago. 1,500
2,712
To Bremen—Nov. 30—Breslau, 1
1
To Antwerp—Nov. 29—Kroonland, 423
423
To Genoa—Nov. 25—Duca d’Aosta, 410
Nov. 28—Lazio,
200
Nov. 29—Romanic. 2,000
2,610
To Naples—Nov. 29—Romanic, 300
300
To Piraeus—Nov. 28—Patrls, 50
50
To Trieste—Nov. 29—Alice, 600
600
GALVESTON—To Liverpool—Nov. 25—Barra, 11.527___Nov. 28
—Atlantlan, 21,425...Nov. 29—Crispin, 9,995
42,947
To Manchester—Nov. 30—Asuncion de Larrlnaga, 12,491
12,491
To Havre—Nov. 26—Madawaska, 13,048
Dec. 1—Alston,
Total
Since
Week.
T.TTTTT
SHIPPING NEWS.—As shown on a previous page, the
exports of cotton from the United States the past week have
reached 281,593 bales.
The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
1908.
Sept. 1.
293.000 107.000
For the Week.
from
519.56
495.56
Since
Sept. 1.
70,000
...
510.22
486.22
FROM ALL PORTS.
1910.
•*
7,499
17,737
1,923,771 2,542,850
5,836,372 6,285,429
4,814,589 7,544,417
10,650,961 13,829,846
515.05
491.05
.
December 1.
1908.
246,126
381,763
211,208
323,115
1,316,563
4,212,257
1,105,927
3,037,346
847,442
844,168
676,000
_
_
1909.
[VOL.
s.
d
Cot'n
Mid.
d.
d.
d.
7H&11 0
@10 9
64@10 8
8.25 10
7.95 104
7.76 104
@
6
7
7
7
@10 74
©
@
@10 9
@10 10
74 @10 1012
7.81 104
8.00 104
@
7.85J104
8.10.104
@
@
8
8.06 104
©
@10 11
84 16s. Shirtings, common
to finest.
32s Con
Twist.
Upl’s
@
a.
d.
d.
s.
Cot’n
Mid.
d.
104 5
104 5
114 5
4
44@9 9
6
@9 11
7.41
7.37
7.71
114 5
114 5
114 5
@9 11
fa 9 11
@9 11
,0,9 10
7.59
7.72
7.72
7.62
7.72
@9
9
11
5
6
6
6
5
ll
5
54 ©9 11
BREADSTUFFS.
Upl’s
Friday, Dec. 2 1910.
Prices for wheat flour have shown few variations
during
the week.
The generality of the trade have adhered to a
waiting attitude and have purchased sparingly.
Reports
from various sections of the
country have continued to re¬
veal an unsatisfactory condition of trade.
New business
at most points
contracts are
has been small and shipping directions on old
coming in slowly. Some think that if the
drought in the winter-wheat States continues much longer
it may have the effect of
stimulating business in flour; but
Dec. 3 1910.
regard the crop outlook on the whole as favorable.
Rye flour and corn meal have been quiet and steady.
Wheat sagged for a time under more favorable crop re¬
ports from Argentina, but later rallied in response to such
factors as dry weather in the American Southwest, a better
cash demand and covering of shorts.
Yet at Liverpool
prices at times have shown noteworthy weakness, owing to
increased offerings from Argentina.
The outlook for the
crops in Europe and elsewhere is considered favorable.
Chicago’s stocks are still more than double those of a year
ago.
Despite some decrease within a week the total world’s
supply is nearly 60,000,000 bushels larger than that
many
of
a
Winnipeg houses have been selling at
ago.
year
Minneapolis.
Chicago elevator interests have been
selling May.
Conservative people deny that there
has been any actual injury to the crop in this country
as
yet. Some snow has occurred in Illinois and the
Ohio Valley.
Cheerful crop accounts have come from Aus¬
tralia.
Estimates of the Argentina exportable surplus are
increasing. For the present week the estimated Argentina
shipments are 1,040,000 bushels, against 400,000 for the
same time last year.
On the other hand, however, Liverpool
prices have of late advanced, and it is conceded that the
winter-wheat belt in this country needs rain, even if no actual
damage has as yet occurred. The December deliveries on
contracts here and at the West were promptly absorbed.
At
Chicago they reached 1,400,000 bushels, at Minneapolis
400,000, at St. Louis 150,000, at Kansas City 110,000 and
at New York about 1,000,000 bushels.
In parts of Russia
the wheat plant, it is said, lacks snow protection.
In Okla¬
homa the condition is officially stated at 38.6%, against
93% a year ago, the deterioration this year being attributed
to drought
Also the crop movement in this country is at
best but moderate and in some parts of the country small.
Thus, the other day the total receipts of spring and winter
wheat at leading American markets amounted to only
605,900 bushels, or 200,000 less than last year. On some
days, indeed, the decrease as compared with the correspond¬
ing days in 1909 has even approximated half a million bushels.
There is an idea that unless copious rains or snows occur at
the West and the Southwest in the near future, farmers will
be inclined to hold back their wheat.
In any case there is
plainly less desire to sell wheat and a less aggressive tendency
to take the short side of the market, particularly as the short
side is believed to be already somewhat overcrowded.
Todaj7, prices opened firmer on drought at the Southwest, but
weakened later on liquidation and selling by elevator interests.
.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat.
Mon. Tues. Wea. Thurs. Fri.
95 )*
95 )£
97 )i
99 M
No. 2 red winter
95 %
96)3
December delivery In elevator
96 %
96
97 H
97
96
97 H
May delivery In elevator.
’.
DAILY CLOSING PRICES OF
December delivery in elevator
May delivery In elevator
July delivery in elevator
102)4 102)4 102)4 103 H 103 $£.103)1
WHEAT FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
89)4
89)6
90 34
89 )6
91)6 90$4
95)6
05 34
95% 96)6 97 )6 96 )6
92 H 93)4 94 )6 94
92 )6
92 ?4
Indian corn futures here in New York have been quiet
and featureless.
At the West the trading has broadened,
and much .of the time the drift of prices has been upward,
owing to the stimulus of decreased country offerings, lighter
receipts, small and diminishing supplies of contract grade
and a somewhat better export trade.
There has been some
good buying noticeable at times, and shorts have covered
with more or less freedom. tYet the feeling among many is
that in the near future the shipments from the country will
increase markedly and that prices must decline to a lower
plane. Stocks in the interior are known to be large and the
consumption is only moderate. To-day prices were firmer
on smaller
receipts, light speculative offerings, commissionhouse buying and covering of shorts.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN
Sat,
Mon. Tues.
Cash corn (New)
52)4
52)4
52
December delivery In elevator.
54 )4
54
54)4
May delivery In elevator
54 )6
54 54
55
52)6
56
55 J-6
by cash interests.
Chicago are relatively large, while cash demand has been
light. To-day prices opened firmer and then weakened with
wheat.
Cash interests sold.
Shorts were principal buyers.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs.
37 H
37 %
37 %
39
38
38
38
38 34
38)6 39)6
Standards
No. 2 white
December delivery lu elevator
May delivery In elevator
July delivery In elevator
The
following
Winter, low grades
Winter patents
Winter straights
Winter clears
Spring patents.___
Spring straights
Spring clears
are
OF
OATS FUTURES
Sat.
Mon. Tues.
30)6
30)6
31 )6
33 *4
33 %
34 H
33 )4
33 $4
34 )6
Standards
No. 2 white
No. 3 white
Fri.
39
39)6
IN CHICAGO.
Wed. Thurs. Fri.
31 34
34 )4
34 )6
32
34 %
34 34
—
Wheat.
Flour.
Receipts at—
bushel—
per
No. 2 Western
f.o.b.
State and Pennsylvania
83
80
@82
8134 @87
Nominal
Oats.
Corn.
Rye.
Barley.
bbls.ldblbs. bush. GO lbs. bush. 56 lbs. bush. 32 lbs. bushAHlbs. 6m.56 lbs.
154,041
63,125
41,600
Chicago
Milwaukee..
Duluth
Minneapolis.
Toledo
5,150
1,543
57,710
42,600
Detroit
Cleveland
St. Louis
Peoria
Kansas City.
.
.
_
211,200
403,410
759,725
2,020,390
21,000
93,323
19,095
345,584
17,000
489,600
2,343,750
4,380,327
6,121,491
7,294,146
3,885,315!
2,875,713
2,668,742;
2,330,285
365,769
Total wk. ’10
Same wk. ’09
Same wk. ’08
402,211
505,367
90,400!
1
1,434,600
189,400
22,711
197,150;
297,31$
150,9131
338,225;
75,369
532,100
443,230
217,200
156,138
49,300
87,200
17,247
687,000
451,000
255,900
552,820
34,500
31,620
16,461
27,720
1,000
79,800
99,600
5,500
6,600
2,127,120
2,038,344
2,282,685
122,401
149,711
169,988
91,500
27,285
3,111,898,
3,156,433
1
Since Aug. 1
1910
1909
1903
6,388,082 119,562,678
8,443,516 138,653,510
8,526,657 135,077,265
58,5^0,481
82,949,311 30,384,899 2,580,663
72,610,295 37,197,458 3,574,945
72,110,406 42,224,037 3,475,503
50,460,106
39.0S6.796
the seaboard ports for
Total receipts of flour and grain at
the week ended Nov. 26 1910 follow:
New York
Boston
_
.
.
_
bush.
171,593
36,936
538,900
174,431
64,000
191,578
202,174
12,896
Portland, Me
Philadelphia
43,818
.
Baltimore
45.911
.
Richmond
New Orleans *—
3,028
24,129
2,204
714
.
Newport News
Norfolk
Galveston
Mobile
Montreal
St. John
bush.
bbls.
■
32,000
5,350
27,930
1,000
.
Oats,
Corn,
Wheat,
Flour,
Receipts at—
1,066,080
14,000
bush.
Barley,
Rye
bush.
bush.
30,375
12,146
486,150
110,107
100,575
50,000
123,320
29,028
135,300
164,083
13,716
36,480
38,500
1,000
4,000
6,498
111,997
402,829
4,600
1,050
800
14,722
2,020
i
83,748
23,192
507,664
1,251,865 185,323
368,143
2,355,059
Total week 1910.
Since Jan. 1 1910. 16,825,135 71,421,870 36,687,609 46,466,447 3692,923
824,937
1,375,552 470,348
3,139,934
Week 1909
423,191
Since Jan. 1 1909. 15,761,958 8S,783,518 37,229,727 41,131,975 6852,078
*
on
845,113
16,411
1063,779
Receipts do not include grain passing through New Orleans for foreign ports
through bills of lading.
The exports from the several seaboard ports for the week
ending Nov. 26 1910 are shown in the annexed statement:
-
Wheat,
Corn,
Flour,
bush.
bush.
bbls.
Oats,
bush.
260,603
80,338
74,235
11,258
Exports from—
New York
Portland, Me
Boston
301,514
Philadelphia
248,000
Baltimore:
New Orleans
Galveston.
Mobile
Montreal
St. John
57,694
23,721
2,025
23,300
Barley,
bush.
2,375
16,356
19,000
16,883
17,860
-----
—
—
—
'”130
3,100
—
—
1,999,811
.2,504,181
6,498
85,000
5,850
96,000
1,000
220,882
278,454
58,251
27,211
The destination of these
—
—
4,600
14,468
6,489
4,558
5,761
31,237
59,195
1
-Co r n
Wheat
-Flour-
Since
Since
July 1
Since
July 1
75
—
—
exports for the week and since
July 1 1910 is as below:
Week
Feas,
bush.
2,108
27,237
—
1,054,000
14,000
Total week
Week 1909
Rye,
bush.
64,000
....
Week
Week
A'ov. 26.
bush.
July 1
127,469
7,000
59,404
1,550
36,919
516
1,024
1910.
bush.
2,493,684
253,251 3,596,038 1,999,S11 25,073,668
227,211 4,198,047 2,504,181 42,599,593
226,882
278,454
7,502,853
3,930,125
Nov. 26.
1910.
bush.
bush.
Kingdom...126,883 1,751,836 1,278,595 15,877,418
1910.
Exports for week and Nov.26.
since July l to—
bbls.
bbls.
7S3.512
461,961
479,306
58,274
63,199
9,066,858
122,392
717,216
4,000
......
2,923,200
1,472,076
593,396
6,224
14,273
The world’s shipments of wheat and corn for the week
ending Nov. 26 1910 and since July 1 1910 and 1909 are
shown in the following:
Corn.
Wheal.
Week
Nov. 26.
Since
Since
July 1.
July 1‘.
Week
Nov. 26'.
Bushels.
Bushels.
Bushels.
Bushels.
195,000
North Amer. 3,928,000 49,659,000 67,920,000
256,000
Russia
5,616,000 10S ,923,000 104,032,000
612,000
Danube
9,848,000
1,408,000 53,928,000
992.000 21,288.000 13,200,000 3,332,000
Argentina
..
768,000
544,000
72,000
India.
Australian..
Oth. countr’s
Total
July 1.
Bushels.
Bushels.
3,771,000
6,632,000
7,173,000
3,433,000
47,400,000
38,135,000
51,217,000
96,141,000
69,701,000
8.081.000
Corn.
United
United
28
19
27
28
30
July 1.
follows:
Kingdom.
Nov.
Nov.
Nov.
Nov.
Nov.
Since
of wheat and corn afloat for Europe on dates
as
Wheat.
closing quotations:
Since
f
22,20S ,000 1
/
14,472,000 [-28,676,000 1
l
4,005,000 J
13328000 274,489,000 223,676,000 4,395,000
The quantity
mentioned was
1909.
1910.
1909.
1910.
Exports.
34 36
34 )6
Corp meal, kiln dried— 2 75@ 2 85
Rye,
52)6
Nominal
Nominal
Barley—Malting
38)6
Feeding, C.l.f., N. Y__
31)6
FLOUR.
$2 75(3)$3 40 Kansas straights. sack_$4 50@$4 75
4 70(3) 4 90 Kansas clears, sacks
4 00 @ 4 40
City patents.
6 00 @ 6 80
Rye flour
3 85 (3> 4 40
4 15@ 4 25
Graham flour
Cents.
No. 2 new, forward
No. 2 mixed
f.o.b.
No. 2 white
f.o.b.
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange.
The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Receipts
at
PRICES
99)4
1 02
Cents.
39
39 34
Total
Total 1900....
52)6
55
55
have been moderate and country offerings have latterly
shown some diminution.
The belief of many, however, is
that when corn husking has been finished the movement
of oats to market will increase sharply.
Meantime stocks
CLOSING
1 16
52)4
54)4
55
....
cover,
Corn, per bushel—
$1 17)6
N. Spring, No. 1
N. Spring, No. 2
Red winter. No. 2
Hard winter. No. 2—
Oats, per bushel, new—
IN NEW YORK.
Wed. Thurs. Fri.
Oats for future delivery in the Western market have ad¬
vanced of late, owing to sympathy with strength in wheat
and corn, a rise in cash prices, commission-house buying and
purchases, supposedly to
GRAIN.
Wheat, per bushel—
United
Continent
77,402
Sou. & Cent. Amer. 30,914
West Indies
21,446
Brit. Nor. Am. Cols.
660
94G
Other Countries
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat.
Mon. Tues.
Wed. Thurs. Fri.
December delivery in elevator
44 34
44 )4
44 34 45 34
43 ?4
45%
May delivery In elevator
4G?4
46 )6
47 34
47 )6 47)6
47)6
July delivery In elevator
47 %
47 34
47)6 47 )6 48)6
47 )6
DAILY
1523
THE CHRONICLE
|
Continent.
Total.
Kingdom.
Continent.
Total.
Btishels.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
1910.
18,188,000 23.464.00C 41,952,000
1910.. 18,768,000 23,960,000 42.728,000
.
1909.. 16,^80,000 15,600,000 32,480,000
1908.. 17,760,000 11,520,000 29,280,000
1907.. 15,680,000 9,040,000 24,720,000
7,744,000 15,147,000 22,891,000
7,259,000 16,924,000 24,1S3,000
3,230,000 5,695,000 8,925,000
4,420,000 4,675,000 9,095,000
4,880,000 3,240,000 8,120,000
1524
THE CHRONICLE
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Nov. 26 1910 was as follows:
AMERICAN
New York
**
Corn,
Oats,
Rye,
bush.
bush.
bush.
bush.
bush.
3,193,000
37,0-90
1,001,000
60,000
18,000
68,000
288,000
Boston
616,000
730,000
885,000
3,000
81,000
2,824,000
Baltimore.
New Orleans
Galveston
Buffalo
afloat
Toledo
Detroit.
“
3,040,000
1,631,000
446,000
5,916,000
754,000
2,267,000
290,000
11,509,000
2,341,000
4,08-3,000
Chicago
Milwaukee
Duluth.
“
afloat
Minneapolis
St. Louis
Kansas City.
Peoria
8,000
Indianapolis
526,000
994,000
60,000
On Lakes
On Canal and River...
Total
Total
Total
Total
Nov.
Nov.
Nov.
Nov.
26
19
27
28
34.666
50,000
368,000
91,000
129,000
234,000
975,656
70,000
17",666
339’, 665
Y, 666
233,000
78,000
24,000
133,000
5,932,000
398,000
839,000
12,000
13,000
5,009
43,000
2,916’, 666
149,666
72,066
116,000
16,000
17,000
182,000
15,000
74,000
301,000
358.000
215,000
1,653,000
121,000
5,000
2’,666
(5,000
453,009
408,000
918,000
1,070,000
,506.000
.706,000
,282,000
,472,000
Barley,
Corn,
Oats,
bush.
Rye,
bush.
bush.
bush.
260,000
5,071,000
2,766,000
3,945,000
22,000
1,038,000
22.000
1,058,000
756,000
-IS 1.000
333,000
1910.-12.048,000
1910.-12,382,000
124,000
54,000
30,000
100,000
582,000
68,000
260,000
22,000
bush.
52,000
9,000
6,090
52,000
70,000
134,000
LXXXXI
The value of these New York exports since Jan. 1 has
bee*
$16,365,062 in 1910, against $19,170,346 in 1909.
Bleached goods rule steady, but seasonably quiet,
especial¬
ly leading tickets. Prints under order are being shipped
freely, but new business is much less active than in recent
weeks; prices continue firm. Ginghams are the most active
of domestic lines at
present and are reported well sold up;
so much so,
in fact, that anxiety over future deliveries is
felt in some
jobbing quarters; under the circumstances
values are well maintained.
A steadier tone has
developed
colored cottons, and cutters are
purchasing more freely
for first-quarter
on
shipments; certain lines of denims and
well conditioned for that period. More activity
is noted in wash
fabrics; re-orders are steadily coming forward
and are being accepted in some houses at
opening prices,
while other agents arc
asking and obtaining somewhat
higher figures. Cotton linings are quiet, with business
confined* principally to near-by delivery.
Late last week
about 3,000 bales of 3 and 4-yard
sheetings were sold for
China account, and this week an additional sale was
reported
of a thousand bales; the
price on the 3-yard sheetings was
754c. less 2%, and on the 4-yard, 6]^c. less 3% for 53x60s.
These prices show a loss to the mills, but the latter
accepted
the low oilers
through a desire to keep certain trade-marks in
the Chinese market; sellers are now
holding for somewhat
higher prices. Export trade with miscellaneous ports has
been only moderate.
A little more activity was in evidence
in the print cloth
market, but the volume of business done
was light;
gray goods, 38JT»inch standard, remain quotably
suitings
’
Wheat,
Total Nov. 27 1909.. 9,999,000
Total Nov. 28 1908.. 6,599,000
331,000
400,000
'
1,452,000
15,502,000
2,355,000
15,681,000
3.238,000
13,686,000
2.651,000
8,691,000
CANADIAN GRAIN STOCKS.
Total Nov. 26
Total Nov. 19
Barley,
2.000
1910..42,435,000
1910..43,319,000
1909.-29,418,000
1903.-48,973,000
Montreal..
Fort W'llllam
Port Arthur
Other Canadian
I
STOCKS.
Wheat,
afloat
Philadelphia
GRAIN
[VOL?
are
unchanged.
WOOLEN GOODS.—In
men’s
demand for
wear
over¬
coatings for prompt delivery was of fair size and the amount
72,000
of business, though below that of the
SUMMARY.
previous week or two,
reached good proportions.
Wheat,
Corn,
It is believed that the bulk of the
Cats,
Rye,
Barley,
bush.
bush:
bush.
bush.
current season’s requirementj has now been covered.
bush.
Fall
American
42,485.000
1,452,GOO
15,502,000
453,000 2,206.000
Canadian
suitings have moved slowly, but there was considerable
12,048,000
22,000
1,058,000
52,000
activity in the way of clearing up lines suitable for the
Total Nov. 20 1910..54,533,000
1,474,000
16,560,000
453.000 2,258,000
present season, at concessions.
Total Nov. 19 1910.-55,701,009
2,479,000
Duplicate orders on light¬
16,437,000
417,000 2,776,000
Total Nov. 27 1909.-39,417,000
3,342,000
14.1C7.000
924,000 3,-! 10,000
fabrics came forward slowly. Talk of tariff revision
weight
Total Nov. 28 1908. 55.572.009
2,681,000
9,025,000
1,070,000 6,544,000
seems to have made
many buyers cautious in operating for
the future.
Dress goods ihow no material
improvement so
far as forward business is
THE DRY GOODS TRADE.
concerned; offerings of moderate
lots of surplus stocks at low
prices have continued a feature.
New York, Friday Night, Dec. 2 1910.
Some lines of cotton-warp goods for
spring have been ad¬
In the primary cotton goods market a
slightly better vanced 14 to lc. a yard.
demand developed during the week for
print cloths and
FOREIGN
DRY
GOODS.—
convertibles and more interest was shown
by jobbers in worsteds were in moderate demand, Imported woolens and
some lines of domestics for forward
chiefly for near-by needs.
delivery. In the gray Linens for
housekeeping purposes displayed considerable
goods division business, although somewhat larger than in
the preceding week, was still limited in volume and con¬ activity, reflecting preparations by retailers for their January
sisted principally of spot goods; while a few mills were sales; some orders for dress linens for spring were received,
but
disposed to accept contracts at current levels for deliveries the importers are conservative in making commitments for
future on account of uncertainty over deliveries;
in the first quarter of the
prices
year, the majority preferred to
continue
very firmly held.
Business in burlaps was fair and
await further developments before
entering upon commit¬ prices steady and
ments for 1911.
unchanged.
Prices on contracts were very
firmly held,
Importations
and
Warehouse Withdrawals of Dry Goods.
especially in view of the stronger market for the staple.
o a
©
Jobbers
©
seemed to have more confidence in the maintenance
of present prices for cotton
goods and entered the market
for additional merchandise in moderate
by these interests
that
some
of them
not
are more
5
quantities; buying
general, but jobbers as a rule
showed more desire to cover their probable needs in the first
three months of the new year; a
larger demand from jobbing
houses is expected as soon as inventories now
being taken in
some quarters, and which will
shortly be under way in others,
is completed, for it is believed that
jobbers’ stocks
need replenishing to meet even a normal demand in generally
the near
future.
Leading sellers of cotton goods continue firm in
their views and are confident
that, on account of limited
supplies in first hands, prices will, if anything, become
firmer, should a fair buying movement develop. Current
business with jobbers is rather
quiet, but it is noteworthy
was
optimistic
over
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55
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.1,910
.
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.3,886
58,485
14.135
13,548
6,525
29,882
1,829
12,634
47,582
44,556
231,859
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Since
Jan. 1.
349,125
ac
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1909-
100
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1,805
1,058
166,473
16,024
25,378
15,235
37,478
1,629
12,967
49,924
21,224
CO
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the outlook for
Week.
N O O
r-«
<
DOMESTIC OOTTGN GOODS.—The
exports of cotton
goods from this port for the week ending Nov. 26 were
3,886
packages, valued at $273,796, their destination being to the
points specified in the tables below.
.
DO N
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manufacturers could handle more business than has
been
booked so far; there is considerable talk of
higher prices,
owing to the strength of raw silk. Both men’s wear and
dress goods markets have continued more or
less unsettled
by the cleaning up at concessions of surplus stocks.
1910Since
Week.
Jan. 1.
22
1,809
18
874
O*
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spring trade. In other textiles conditions are not
uniformly
good. Some large handlers of underwear report a satis¬
factory trade on lines for fall 1911 but smaller concerns have
been less fortunate; the same
might be said of hosiery for
next spring.
In the silk trade additional orders for spring
shipment are being received from jobbers and
retailers;
certain large mills are said to be well sold
ahead, but smaller
New York t» Nm. 26—
Great Britain.
Other Europe.
China..
India i
Arabia
Africa
West Indies
Mexico
Central America.
South America
Other countries
in*
e
^
i-
Tf
c
O
5
a
£ * eg 0
omfc«
a
£
i?i
w
THE CHRONICLE
Dec. 3 1010.
1535
on all the outstanding warrants issued by the State
during and for the years 1887, 1888, 1889, 1892, 1893, 1894
and 1897.
Unofficial returns are said to show a majority
of 43 votes in favor of this amendment.
See V. 91, p. 893;
also V. 89, p. 1363.
Crosby County, Texas.—Court of Appeals Upholds Re¬
moval of County Seat.—The Court of Civil Appeals on Nov. 26
handed down a decree dissolving the temporary injunction
previously issued by the District Court forbidding the removalof the county seat from Emma to Crosby ton.
Illinois.—Vote on Initiative and Referendum Proposition.—
The following proposition relating to the “initiative and refer¬
endum” was approved by the voters on Nov. 8:
interest
gw£ mw City
Chronicle.
'4!
PUBLISHED WEEKLY.
Terms of
Subscription—Payable in Advance
Por One Year
For Six Months
$10 00
6 00
-
„
13
7
£2
£1
$11
—
(including postage)
European Subscription .*ix months (including postage)
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)
European Subscription
Canadian Subscription
(including postage)
Subscription includes
following Supplements—
State and City (semi-annually)
electric Railway (3 times yearly)
B ’ NK AND QUOTATION (monthly)
Railway and Industrial (quarterly)
Railway Earnings (monthly)
Terms of
Transient; matter per
00
50
14 s.
11 s.
50
Bankers’ Convention (yearly)
Advertising—Per Inch Space
inch space (14 agate lines)
$4 20
.
22 00
( Two Months
(S times)
\ Three Months (13 times)
Standing Business Cards ) Six Months
(26 times)
(. Twelve Months (52 times)
29 00
50 00
1
87 00
“Shall the next Legislature submit to the voters of the State, at the next
following State election, an amendment to the State Constitution provid¬
ing for the control of legislation by the people by means of the initiative
and referendum.’’
The official vote was 465,907 for the proposition and
128,397 against It, the pluralty being 337,510.
Imperial, Imperial County, Cal.—City Wins Water-Works
Imperial Light, Water &
Case.—The suit brought by the
Power Co. to prevent the city
water
from establishing its own
system was decided in favor of the city on Nov.
23 by
Judge Wellborn of the United States Circuit Court. The
CHICAGO OPPIOE—Pliny Bartlett, 513 Monadnock Block; TeL Harrison 401
city took steps to install a municipal plant more than a year
LONDON OFFICE—Edwards & Smith, 1 Drapers’ Gardens, E. C.
ago
and a bond issue of $50,000 was provided for.
WILLI A HI B. BAN A COMPANY, Publishers,
Jersey City, N. J.—Final Decree Filed in Water-Works
P. O. Pox 95S.
Front, Pine and Depeyster Sts.,
New York.
Case.—On Nov. 17 Vice-Chancellor Stevens filed the final
decree of the Court of Chancery fixing the terms of the pur¬
CENSUS FIGURES OF POPULATION.
chase of the water-works by the city under the Flynn con¬
tract.
See item under “Jersey City Water Supply Co.” in
In the editorial columns of our “State and City” Section,
issued last Saturday, we printed tables showing the popula¬ the “Chronicle” of last week, p. 1450.
The appeal of Jersey
tion of such of the States, and also such of the cities of more City from the decree will be heard by the Court of Errors
than 25,000 population, for which the 1910 figures had been and Appeals, it is expected, about February next.
announced up to the time that publication was sent to press.
Minnesota.—Vote Cast on Constitutional Amendments.—
Since that time, however, the Census Bureau has completed
Of the six proposed constitutional amendments submitted
the enumeration for 1910 in certain other States and cities, to the voters at the last general election, only one, providing
and we print these below:
for the levying of an annual tax for the construction and
POPULATION OF STATES.
improvement of roads and bridges, carried. This amend¬
ment was given in full in V. 89, p. 1022.
As the total vote
Inci •ease.
cast was 312,418, a constitutional amendment needed 156,1900 to 1910. 1890 to 1900.
1890.
1900.
209 to carry. The road and bridge amendment went through
1910.
State—
with 159,746.
The amendment relating to the publication
No.
No.
%
of the Treasurer’s report got 123,787, the hail-insurance
21.2
New York
9.113,279 7,268,894 5,997,853 1,844,385 25.4 1,271,041
amendment 108,926, the reapportionment amendment 95,7.665,111 6.302,11*5,258,014 1,362,996 21.6 £1044020 19.9
Pennsylvania
995,199 26.0
817,041 16.8
181, the amendment providing a tax for re-forestation got
Illinois
5,638,59H4.S21,550 3,826,351
485,229 13.2
609,576 14.7
Ohio
4.767,121 4,157,545 3,672,316
100,168 and the one permitting the exemption of forestry
22.7
60.1
1274,04
9
892,496
California
2,377,549 1,485,053 1,208,130
lands from taxation only 87,843.
253,098 14.3
164,173 8.1
Tennessee
2,184,789 2,020,610| 1.767,518
324,314 18.5 £440,150 33.8
Minnesota
2,075,708 1,751,394 1,301,826
Nashville, Term.—Sewer Bonds Declared Valid.—On
198,204 12.0
207,428 11.2
2,061,612 1,854,184 1,655,980
Virginia
531,734 205.6
866,764 96.1
Nov. 26 Judge S. F. Wilson of the Court of Civil Appeals
Oklahoma
1,657,155 *790,391 *258,657
145,654 14.0
106,406 9.0
1,294,450 1,188,014 1,042,390
Maryland
rendered a decision upholding the validity of the $500,000
196,006 25.7
262,319 27.4
95S,800i 762.794
West Virginia. 1,221,119
0.7
11.8
trunk-sewer bonds.
The decision reverses the decree of the
7,380
125,914
1,058,910
1,086,300
Nebraska
1,192,214
Chancellor, who held that the bonds should have received a
Pooulatlon of same area as in 1910, consisting In 1900 and 1890 of
majority of all the votes cast at the election and not simply
x Exclusive of persons on Indian reser¬
Oklahoma and Indian Territories,
a majority of the votes cast on that particular proposition.
vations.
POPULATION OF CITIES.
Judge Wilson decides that a majority of the votes cast on
or
70
__
*
Population.
Per Cent
of Inc.
Cities—
1910.
;
301,408
207.214
237,194
78,456
23,398
26,629
25,452
Minneapolis, Minn.
Portland, Ore
Seattle, Wash
Duluth, Minn
Sheboygan, Wls
Warwick. R. I
Hazleton, Pa
1900.
1890.
1900 to
1910.
1890 to
1900.
202,718
90,426
104,738
46,385
42,837
33,115
16,359
17,761
11,872
48.7
129.2
194.0
48.1
15.0
24.9
78.9
23.1
94.9
88.3
60.0
40.4
80,671
52,969
22,962
21,316
14,230
20.0
19.9
News Items.
Cincinnati, Ohio.—Official Vote on Annexation of Vil¬
lages.—The official figures of the Board of Elections show that
the following vote was polled Nov. 8 on the annexation of
certain villages to the City of Cincinnati:
—Vote in Cincinnati
“For.”
"Against.”
Annexation of College Hill
“
“
“
“
“
“
“
“
“
“
“
“
“
Sayler Park
Carthage
56,007
5,699
54,339
5,879
5,591
54,505
Elmwood Place
54,454
Cheviot
54,465
Madisonvllle
.54,666
Mount Airy
54,110
Mount Washington.53,556
5,578
5,501
5,640
5,628
5,737
Vote in Villages-
"For.”” Against.”
249
217
*
109
90
363
338
273
496
254
264
743
474
89
14
215
62
As stated in V. 91, p. 1398, the question of annexation of
all the villages named was carried in Cincinnati and defeated
in only two of the villages themselves, namely Elmwood
Place and Gheviot.
Cleveland, Ohio.—Vote on Annexation of East Cleveland
Newburg and Lakewood.—We are advised that the vote cast
Nov. 8 on the question of annexing the villages of East Cleve¬
land, Newburg and Lakewood to the City of Cleveland was
as
follows:
•
Vote in Cleveland
*
the bond proposition alone was sufficient to authorize.
As
previously stated, $250,000 of these bonds were awarded on
March 15 to the Chicago house of Wm. A. Read & Co.
See
V. 91, p. 106.
Oklahoma.—Legislature Ratifies Action of Governor in
Calling Special Session at Oklahoma City.—Dispatches from
Oklahoma City state that the Legislature which convened
in special session in that city on Nov. 28, ratified the action
of Governor Haskell in calling the special session at Okla¬
homa City instead of Guthrie, the State capital.
See V. 91,
p. 1466.
It is reported also that three bills were received
and placed on file, the first providing for locating the State
capital immediately at Oklahoma City, the second for the
appointment of a State capital commission to have full charge
of the erection of State buildings, and the third for the com¬
pensation of Representatives and Senators per diem.
Constitutional Amendments Defeated.—We reported in
V. 91, p. 1342, that two proposed amendments to the State
Constitution relating to prohibition and women’s suffrage
were defeated at the general election on Nov. 8.
We mow
learn that the voters rejected four Constitutional amend¬
ments, two proposed by the Legislature and two by initiative
petition; also two Acts of the Legislature, one of which was
referred by initiative petition and one by referendum pe¬
tition.
The Constitutional amendments not previously re¬
ferred to related to the distribution of school taxes and the
consolidation of railroad and transportation and transmission
companies. Of the other two questions defeated on Nor. 8,
one provided for the creation of a district to be known as a
“New Jerusalem District” and the other related t# the hold¬
ing and conducting of elections.
Bond Calls and Redemptions.
Vote in Village.
Republic of Bolivia.—Bond Call.—The following numbered
sterling loan of £500,000 were
drawn July 2 1910 for payment Jan. 1 1911 at the office of
The question of annexation appears to have carried in J. P. Morgan & Co. in New York City or Morgan, Grenfell &
Cleveland, although defeated in all three of the villages con¬ Co. in London:. Nos. 54, 187, 226, 227, 275, 685r T9«, $22,
N
cerned.
849, 850, 1171, 1228, 1261, 1487, 1526, 1529, 186$; 1809,
Colorado.—Constitutional Amendments Adopted.—It is 1984, 2039, 2146, 2154, 2213, 2275, and 2301.
St. Joseph, Mo,—Tenders of Bonds Requited*—Proposals
thought that all five of the proposed amendments to the
State Constitution submitted on Nov. 8 were adopted. for the redemption by this city of $75,000 of it* *ntata*ding
Newspaper reports state that the only one in question is that bonds will be received until Dec. 1& at the •(!!** *f %Otoas
which fffiOVfdos for the|paymentof the principal of and accrued Shaffer, City Comptroller,
1 ' ^
^
.
,
.
Annexation of East Cleveland
Annexation of Newburg
Annexation of Lakewood
-
“For.” “Against.” "For”
49,240
51,071
53,828
5,471
5,567
6,425
529
245
974
“Agst.”
1,243
463
1,465
bonds of the external 6%
1526
THE
CHRONICLE
Bond Proposals and Negotiations this week
have been as follows:
Aiken, Aiken County, So. Caro.—Bond Offering.—Pro
posals will be received until 12 m. Dec. 15 (date chan d
from Dec. 1) by J. L. McNair, Chairman Commissioners of
Public Works, for the $78,000 43^% coupon
water-wor_£
extension bonds voted (V. 91, p. 539) on August 16.
Nj
Date Oct. 1 1910.
Interest semi-annual.
to call after 20 years.
Maturity 40
years,
subject
Anadarko School District (P. O. Anadarko), Caddo
County, Okla.—Bond Offering.—Proposals will be received
until Dec. 5 for $16,500 bonds.
success on Nov. 7.
These securities
were
offered
without
Anaheim
School
[VOL.
LXXXXI
Caldwell County (P. O. Lockhart), Tex.—Bond Election.—
on Dec.
5, it is
stated, to vote on a proposition to issue $25,000 good-road
bonds.
An election will be held in Precinct
No. 2
Calexico, Imperial County, Cal.—Bond Offering.—Propos¬
Dec. 20 by J. B. Hoffman,
City Clerk, for $35,000 6% gold sewer-system bonds voted
als will be received until 2
p. m.
Oct. 15 (V. 91, p. 1342),
Authority, Chapter 32, Statutes of 1901. Interest
semi-annually at the
City Treasurer’s office.
Maturity, “within thirty years.” Certified check
for $1,000 is
on
required.
Cass
County (?. O. Fargo), No. Dak.—Bond Offering.—
Proposals will be received until 12 m. Dec. 28 by Arthur G.
Lewis, County Auditor, for $19,224 74 Drainage District
No. 10 and $23,843 35
Drainage District No. 29 6% gold
District, Orange County, Cal —Bond
on
the question of registered bonds.
issuing school-building and playground bonds (V. 91, p. 975)
Authority, Chapter 23, Laws of 1905. Denomination $500. Date Jan.l
will be held Dec. 17, it is stated.
1911.
Interest annually In Fargo.
Maturity part yearly In each of the
years 1913, 1915, 1917, 1919 and
1921.
Certified check (or cash) for $500
Arlington, Middlesex County, Mass.—Bond Sale.—We Is required.
learn that the $39,000 3-15-year (serial) school-addition
Chadbourn Drainage District (P. O.
Ch&dboura), Colum¬
and the $14,000 2-8-year (serial) sewer 4% coupon
bonds, bus County, No. Caro.—Bond
Offering.—Proposals
will be
offered on Nov. 29 (V. 91, p. 1466), were purchased
by received until 10 a. m. Dec. 6 by D.
Boughner, Chairman of
Jackson & Curtis of Boston at 103.115.
Denomination of Drainage
Board, for $30,000 6% coupon drainage-canal
school bonds, $1,000; sewer bonds, $2,000.
Interest semi¬
Election.—The bond election to vote
annual.
Ashland, Jackson County, Ore.—Bond Election Proposed.
—The City Recorder will call an election, it is
stated, to vote
on the question of
issuing $170,000 water-works-system im¬
provement bonds.
Atlantic County (P. O. May's Landing), N. J.—Bond
Of¬
fering .-—Proposals will be received until 11 a. m. Dec. 7 for
the $60,000 5% bridge-rebuilding bonds mentioned in V.
91,
p. 849.
Authority, Section 91, page 424, General Statutes of 1895.
Maturity $10,000 yearly on Jan. 1 from 1920
tion $5,000.
clusive
Denomina¬
to
1925 in¬
Audubon, Camden County, N. J.—Bonds Voted.—The
question of issuing $18,000 20-year street-improvement
bonds was favorably voted on at an election held Nov. 26.
The vote
was
127 “for” to 62
“against.”
Bainbridge, Decatur County, Ga.-—Bond Election.—It is
stated that this place will vote on the
question of issuing
$60,000 improvement bonds.
Beloit, Bock County, Wis.—Bonds Authorized.—An issue
of $25,000 bonds w*as authorized, it is
stated, by the City
Council on Nov. 21.
Berlin, Coos County, N. H.—Bond Sale.—On Dec. 1
$80,000 43^% 1-16-year (serial) coupon refunding bonds
were awarded, it is
stated, to E. H. Rollins & Sons of Boston
at
102.07.
Denominations: 64 bonds of $1,000 each and 32 bonds of
$500 each.
Date Nov. 1 1910.
Interest semi-annually at the Old Colony Trust
Co. in
Boston.
Bonds will be certified as to genuineness
by the Old Colony Trust
Co. in Boston, which will further certify that the
legality of the bonds has
been approved by Ropes, Gray & Gorham of Boston.
Bessemer, Gogebic County, Mich.—Bonds Voted.—Accord¬
ing to reports, an election held recently resulted in favor of a
proposition to issue $15,000 sewer-construction bonds.
Boston, Mass.—Bond Sale.—During the month of No¬
vember $37,000 4% Broadway
bridge-rebuilding bonds were
disposed of to trust funds of the city at par. The bonds are
dated July 1 1910 and mature $2,000
yearly on July 1 from
1911 to 1928 inclusive and
$1,000 on July 1 1929.
Bucyrus, Crawford County, Ohio.—Bond Offering.—Pro^
posals will be received until 12 m. Dec. 22 by H. A.
Barth,
City Auditor, for $25,000 43^% coupon (city’s portion)
street-improvement bonds.
Denomination $500.
Date Dec. 1 1910.
Interest March 1 and Sept 1
at the City Treasurer’s office.
Maturity $1,000 each March 1 and $1,500
each Sept. 1 from 1914 to 1923 Inclusive.
Certified check for $100,
payable
to G. Goldsmith, City Treasurer, Is
required.
Bonds will be delivered Dec.
23.
Purchaser to pay accrued Interest.
Buffalo, N. Y.—Bond Offering.—Proposals will be re¬
m. Dec. 6
by William G. Justice, City Comp¬
troller, for the following 4% registered bonds, mentioned
in
Y. 91, p. 976:
ceived until 12
$100,000 refundng rallroad-ald bonds.
Date Dec. 15 1910.
Maturity
$5,000 yearly on Dec. 15 from 1911 to 1930
Inclusive.
100,000 refunding water bonds.
Date Jan. 1 1911.
Maturity $5 000
yearly on Jan. 1 from 1912 to 1931 Inclusive.
Authority, Chapter 24 of the Consolidated Laws. Interest
at the City Comptroller’s office or at the
Gallatin National semi-annually
Bank In New
York City, to suit purchaser.
The bonds are non-taxable.
An uncondi¬
tional certified check, drawn on an
Incorporated bank or trust
company
for 2% of bonds bid for, and made
payable to the City
Comptroller, Is
required.
Buffalo, N. Y.—Bonds Validated by Board of Councilmen.—
On
Nov. 23 the Board of Councilmen
adopted a resolution
confirming the validity of the three issues of 4% registered
bonds, aggregating $1,303,810 20, disposed of at private sale
on Sept. 23 to the Columbia
National Bank of Buffalo.
See
V. 91, p. 895.
The legality of the bonds was questioned
for the reason that the
meeting at which they were ordered
issued was irregularly called and the
Comptroller’s report
of the sale had been
disapproved.
Bond Sale.—The
following 4% bonds were disposed of at
par during November to the various
sinking funds:
$2,400 00 temporary-loan bonds dated Nov. 1 1910
and due July 1 1911.
13,193 33 monthly-local-work bonds dated Nov. 15
1910 and due Nov. 15
1911.
Butler School District (P. O.
Butler), Butler County,.Pa.—
Bond Offering.—Proposals will be received
until 8p.m. Dec. 5
for any part of a new issue of
$50,000
4%
Series “H” bonds.
Denomination $500.
Interest May and November.
30 years,
follows: Nos. 1 to 30 In 10 years, 31 to Maturity
60 In 15 years and
61 to 100 In 20 years.
Bonds are exempt from State tax.
C.
E.
Cronenwelt Is Treasurer and F. L. Wlegand Is
Secretary.
subject to call
as
construction bonds.
Authority, Section 34, Chapter 442,
of Drainage Laws of North Carolina
Denomination to suit purchaser.
Date Dec. 6 1910.
Interest annually lii
Chadbourn.
Maturity $3,000 yearly on Dec. 6 from 1913 to 1922
Inclusive
Certified check for 5% of bid,
payable to the Chairman, Is required.
Chambersburg, Franklin County, Pa.—Bond Offering.—
Dispatches state that proposals will be received until
8 p. m.
Dec. 5 by T. J. Brereton for the
$150,000 water-supplyimprovement, $65,000 sewerage-system and disposal plant,
$15,000 street-paving and $5,000 fire-house
4y2% bonds
mentioned in V. 91, p. 228.
Certified check for $2,000
required.
Chenango, Broome County, N. Y.—Bond Sale.—1The
$9,000 4^% registered bridge-construction bonds offered
on Nov. 4 and described in V.
91, p. 1196, have been pur¬
chased by the Chenango
Valley Savings Bank of Bingham¬
ton at 100.50.
Maturity $2,000 yearly on March 1 from 1914
to
1917 inclusive and $1,000
on
March 1 1918.
Chicago (Ill.) Sanitary District.—Bond Offering.—Propos¬
als will be received until Dec. 22 for
$1,000,000 4% bonds,
dated Jan.
1 1911 and due $46,000 on Jan. 1 1913 and
$53,000
Jan. 1 from 1914 to 1931 inclusive.
Choctaw County (P. O. Chester), Miss.—Bond
Sale.—On
Nov. 7 the $10,000 6%
10-20-year (optional) jail-building
bonds described in V. 91,
p. 1275, were awarded to the Union
Savings Bank & Trust Co. of Cincinnati at 105.76. Pur¬
chaser also to furnish blank bonds,
Cincinnati, Ohio.—Bond Offering.—Proposals will be re¬
ceived until 10 a. m. Dec. 29
by Ernst von Bargen, City
Auditor, for the following 4% coupon bonds:
yearly
on
$1,000,000 boulevard
and
park-improvement bonds, voted on Nov. 8
(V. 91, p. 1399).
Authority Sections 3939 to 3954 Inclusive,
General Code.
Denomination $500.
Maturity 40 years.
1,000,000 hospital bonds.
Authority Sections 2835 and
Revised
Statutes, and Sections 3939 to 3954 Inclusive, 2837,
General Code.
Maturity 50 years.
800,000 grade-crosslng-abolltlon bonds voted on Nov. 8 (V.
91, p. 1399).
Authority Sections 8874 to 8894 inclusive and Sections 3948
to
3953, General Code. Maturity 40 years.
Denomination $500.
Date Dec. 15 1910.
Interest semi-annually at the
City Treasurer’s office. Bonds are tax-exempt. Certified check for
5%
of bonds bid for, payable to the
Auditor, Is required. Purchaser to pay
accrued Interest.
Bids to be made on blank forms furnished
by the City
Auditor.
Cleveland, Ohio.—Bond Offering.—Proposals will be re¬
by H. B. Wright, City Auditor,
grade-crossing bonds.
ceived until 12 m. Dec. 27
for $500,000 4% coupon
Denomination $1,000.
Interest from Oct. 1 1910, payable
semi-annually
at the American Exchange National Bank In
New York City.
Maturity
Oct. 1 1940.
Certified check on a national bank
for 5% of bonds bid for,
payable to Harry L. Davis, City Treasurer, Is required.
Bids to be made
on blank forms furnished
by the City Auditor.
Cleveland Heights,
Cuyahoga County, Ohio.—Bond Offer¬
ing.—Proposals will be received until 12 m. Jan. 3 1911
by H. H. Canfield, Village Clerk (309 Beckman Bldg.,
Cleveland), for $12,276. 43^% coupon Euclid Heights
Boulevard improvement assessment bonds.
Authority, Section 3914, General Code.
Denomination $1,000, except
bond of $276.
Date ‘‘day of sale.”
Interest April 1 and Oct. 1 at the
Village Treasurer’s office.
Maturity $276 Oct. 1 1912, $1,000 yearly on
Oct. 1 from 1913 to 1918 Inclusive and
$2,000 on Oct. 1 In each of the years
1919, 1920 and 1921.
Certified check for 10% of bonds bid for,
payable to
the Village Treasurer, Is required.
Purchaser to pay accrued interest.
one
Coitsville
Township School District (P. O. Station A,
Youngstown), Ohio.—Bond Sale.—A11 issue of $6,000 6%
5-year building bonds was disposed of on Nov. 26 to Otis &
Hough of Cleveland at 107.033—a basis of about 4.417%.
A list of the bidders follows:
Otis & Hough, Cleveland._$6,422 00
Security S.B.& Tr.Co.,ToI_$6,362 50
Seasongood &
Mayer, Cln__ 6,402 00
6,396 75
Hayden, Miller & Co.,Clev_ 6,380 00
Stacy & Braun, Toledo
6,373 60
Denomination $1,000.
Date Nov.
C. E. Denison & Co., Clev_
New First N. Bk., Colum. 6,277 00
First N. Bk., Barnesvllle__ 6,101 00
Comm. N. Bk., Youngst’n. 6,064 20
City Sav. Bk., Youngstown 6,031 80
26 1910.
Interest semi-annual.
Conrad, Teton County, Mont.—Bond Offering.—Proposals
2p.m. Dec. 28 by F. H. Pings, Mayor,
for $25,000 6% sewer bonds.
will be received until
Interest semi-annually on Jan. 1 and
July 1. Maturity 20 years, subject
however, $3,000 In 5 years, $5,000 In 10 years and
$5,000 In 15
Certified check for $300 Is required.
to call,
years.
The
official notice of this bond offering will be found
the advertisements elsewhere in this
Department.
County (P. O. Chicago), Ill.—Vote
Cook
Bonds.—We
are
on
among
Hospital
advised that the vote cast Nov. 8
on
the
Dec. 3
question of issuing the $3,000,000 4% gold hospital-recon¬
struction and extension bonds (V.91, p. 1343) was 156,185
“for” to 87,835 “against.”
Our informant further states
that no action will be taken looking towards the offering of
these bonds until the new county board takes office on
Dec.
5
1910.
Cordele, Crisp County,
Ga.—Bond Offering.—Proposals
will be received until Dec. 7 by John Beasley,
and Treasurer, for the $10,000 5% (not
as
ported) school-improvement
p. 896).
City Clerk
6%
bonds voted on Sept. 23 (V. 91,
at first re¬
Denomination $1,000.
Date Nov. 5 1910. Interest semi-annual. Ma¬
turity Nov. 5 1940.
Official circular states that all obligations have been
met promptly and that there has never been any question raised as to the
legality of this Issue.
of
is
1537
THE CHRONICLE
1910.]
Cottage Grove, Lane County, Ore.—Bond Sale.—An issue
$30,000 6% warrant-funding bonds has been awarded, it
stated, to Ulen & Co. of Chicago at par.
Bonds Proposed.—Local papers state that the City Council
has been asked by the Board of Water and Light Commis¬
sioners to "have submitted at the general election in February
1911 a proposition to issue $300,000 bonds.
Dunmore, Lackawanna County, Pa.—Bond Offering.—
Proposals will be received until Dec. 6 for $65,000 coupon
bonds.
R. A. Zimmerman is Borough Solicitor.
Durand, Shiawassee County, Mich.—Bond Offering.—
Proposals will be received until Dec. 5 for $12,000 5% water¬
works and light extension bonds.
Authority vote of 241 to
40 on Nov. 14.
Maturity 1912.
East Orange, Essex County, N. J.—Bond Offering.—Pro¬
posals will be received until 8 p. m. Dec. 12 (postponed from
Nov. 28) by the Mayor and City Council for $220,000 43^%
coupon (with privilege of registration) Series “V” school
bonds.
Denomination
$1,000.
Date July 1
1910.
Interest semi-annually at
Maturity July 1 1950. Certified check for 2%
City Treasurer’s office.
Covington County (P. O. Collins), Miss.—Bond Offering.— the
of bonds bid for, payable to the Receiver of Taxes, Is required.
The
Proposals will be received until Jan. 2 1911 for $25,000 road legality of the bonds will be certified to by Caldwell & Reed of New York
bonds.
securities
were
without
These
offered
success as 6s City, whose opinion will be delivered to the purchaser. Accrued interest
to be paid by the successful bidder.
Lincoln E. Rowley Is City Clerk.
See V. 91, p. 1196.
on Nov. 7.
The official notice of this bond offering will be found among
Crawford, Oglethorpe County, Ga.—Bond Sale.—The
$5,000 6% coupon school-building bonds described in V. 91, the advertisements elsewhere in this Department.
East Spencer (P. O. Salisbury Sub-Station No. 2), Rowan
p. 1048, were sold on Nov. 1 to C. H. Coffin of Chicago at
Maturity County, No. Car.—Bond Sale.—On Nov. 16 the $25,000 25par less the cost of bonds and attorney's fees.
$200 yearly on Jan. 1 from 1912 to 1936 inclusive.
year coupon water and light bonds described in V. 91, p.
Crowley, Arcadia Parish, La.—Bond Sale.—Reports state 1343, were awarded to the J. B. McCrary Co. of Atlanta at
that the offer of a Chicago bond company for the $75,000 101 for 6s.
El Centro School District, Imperial County, Cal.—Bondl
5% coupon Sixth Ward Drainage District bonds, bids for
which were rejected on Oct. 8 (V. 91, p. 1048), has been Offering.—According to reports, proposals will be received
until 2 p. m. Dec. 17 by the County Treasurer (P. O. El
accepted.
Custer County (P. O. Broken Bow), Neb.—Bond Election Centro) for $5,000 6% bonds.
Denomination $100. Inter¬
Proposed.—It is thought probable that a vote will be taken est semi-annual.
in January on the question of issuing $50,000 court-house
Emporia, Lyon County, Kan.—Bond Offering.—Proposals
bonds.
will be received at any time for $11,000 4^% sewer bonds
Cuyahoga Falls, Summit County, Ohio.—Bond Sale.—The mentioned in V. 91, p. 977.
Denomination
Date July 1 1910. Interest semi-annual. Ma¬
$8,200 5% Front Street improvement (village’s portion) turity 20 years. $500.
Fred. H. Smith Is City Clerk.
bonds described in V. 91, p. 1467, were sold on Nov. 28, it is
Fall River, Bristol County, Mass.—Bonds Authorized.—
stated, to Seasongood & Mayer of Cincinnati for $8,501 At a
meeting of the Finance Committee of this city on Nov. 28,
(103.67) and accrued interest. Maturity $200 on Oct. 1 the issuance of
$100,000 10-year bonds was authorized.
1911 and $1,000 each six months from April 1 1912 to
Frederick, Polk County, Wis.—Bond Offering.—Proposals
Oct. 1 1915 inclusive.
will be received until 9 p. m. Dec. 5 by J. Le Roy El well,
Dallas, Tex.—Bond Sale.—On Nov. 21 the $350,000 4^%
and the $300,000 (3 issues) 4% gold coupon bonds described Village Clerk, for $2,000 6% water-works bonds.
Authority, Sections 942 and 943, Laws of 1898.
Denomination $500.
in V. 91, p. 1343, were sold to the City National Bank of Date Dec. 1 1910. Interest annually on April 1 at the First National Bank
Dallas at par for the 434s and 96.65 for the 4s—a basis of in Frederick. Maturity $500 yearly on April 1 from 1912 to 1915 Inclusive.
No deposit Is required with bid.
Bonded debt, including this Issue, $9,500;
about 4.25%.
no floating debt.
The following bids were received:
Assessed valuation 1910, $225,000.
$350,000 $300,000
Fulton Township School District (P. O. Swanton), Fulton
4M%
4%
Bonds.
Bonds.
County, Ohio.—Bonds Refused.—We are informed that the
City National Bank, Dallas
$350,000 $289,950 First National Bank of Wauseon has refused to accept an
Well, Roth & Co., Cincinnati
279,900 issue of
$18,500 bonds recently awarded them. As reported
Well, Roth & Co., Breed & Harrison and the Provident
Savings Bank & Trust Co., all of Cincinnati
*350,005
268,500 in the “Chronicle” of Oct. 15, these bonds were voted on
/
Seasongood & Mayer, Cincinnati
•
1350,000
Provided they be awarded the
279,475
264,263
$300,000 4 per cents.
All bidders offered accrued Interest In addition to their bids.
The \ M%
bonds are payable June 1 1950, while the 4% bonds mature on June 1 as
follows: $2,000 of each Issue every odd year and $3,000 of each Issue every
even year from 1911 to 1950 Inclusive.
Davison, Genesee County, Mich.—Bond Sale.—We are
advised that an issue of light bonds
all subscribed for by local parties.
recently voted has been
Dayton, Ohio.—Bond Sale.—The following bids were re¬
5% coupon paving
ceived on Nov. 28 for the nine issues of
bonds described in V. 91, p. 1276:
$4,000
§2,000
$10,000
$3,700
$10,000
Detroit St. Xenia Av. Linden Av. HickorySt.
Bonds.
Bonds.
Bonds.
Bonds.
Xenia Av.
Bonds.
Seasongood & Mayer, Cln..*$2,121 00 $4,187 20 S10.403 00 $3,873 16
Field, Longstreth& Co., Cln. 2,114 40 *4,208 SO
10,412 00 *3,906 60
Dayton Sav. & Tr. Co..Day.\ 2,085 00 4,180 00 *10,431 00 3,861 00
Breed & Harrison, Cln
]
Hayden. Miller & Co., Cleve. 2,100 00 4,181 00
10,353 00 3,869 00
Well, Roth & Co., Cincinnati 2,036 00
10,391 00 3,862 80
4,186 00
New First Nat. Bank.,Colum. 2,063 00
4,163 00
10,403 00 3,851 00
C. E. Denison & Co., Cleve
10,408 75
$10,403 00
$12,500
S17.500
Springfield Springfield
Street
Bonds.
$12,928
Seasongood & Mayer, Cincinnati
Field, Longstreth & Co., Cincinnati.. 12,945
Dayton Savings & Trust Co., Dayton].*12,965
Breed & Harrison, Cincinnati
/
Hayden, Miller & Co., Cleveland
12,641
Well, Roth & Co., Cincinnati
«_
,
12,928
New First National Bank, Cloumbus.. 12,888
Street
Bonds.
$7,800
Lehman
Street
Bonds.
00 SIS,279 00 $8,171 28
00
18,289 25 *8,260 98
00 *18,325 00 8,169 00
10,412 00
*10,430 00
10,353 00
10,391 00
10,352 00
10,408 75
$2,500
Hickory
Street
Bonds.
82,626 00
*2,640 00
2,614 00
Oct. 5.
Glenwood, Pope County, Minn.—Bond Sale.—The $10,000
city-hall construction bonds mentioned in V; 91, p. 819,
were awarded about a month ago, we are advised, to the
State of Minnesota at 4%.
Goshen, Orange County, N. Y.—Bond Sale.—On Nov. 22
the $10,000 coupon water-improvement bonds described in
V. 91, p. 1400, were awarded to the Goshen Savings Bank
in Goshen at par for 4^s.
Maturity $1,000 yearly on Dec. 1
from 1915 to 1924 inclusive, unpaid bonds being subject to
call after 10 years.
Heights, Ohio.—Bond ElectionAn election
question of issuing $2,000
sewer-improvement and $14,000 water-main-construction
Grandview
will be held Dec. 27 to vote on the
bonds.
Grayson County Common School District No. 51, Texas.—
22 the State Comptroller regis¬
Bonds Registered.—On Nov.
tered $1,200 5% 5-12-year
(optional) bonds.
Greybull, Bighorn County, Wyo.—Bonds Voted.—Ac¬
cording to reports an election held Nov. 23 resulted in favor
of a proposition to issue $35,000 water-works-system bonds.
The vote
was
95 to 5.
Haddonfield, Camden County, N. J.—No Action Yet
Taken.—Up to Nov. 26 no action had yet been taken looking
00 18,210 00 8,145 00
2,625 00 towards the issuance of the $150,000 street-improvement
75 18,296 25 8,171 30
2,607 50
00 18,211 00 8,081 00
2,621 55 bonds voted on Sept. 20 (V. 91, p. 819.)
Hearne, Robertson County, Tex.—Bond Election Post¬
Successful bids.
poned.—Reports
an election which was to be held
Douglasville, Douglas County, Ga.—Bonds Voted.—The Nov. 23 to vote onstate
the question of issuing water-works bonds
$20,000 5% water-works bonds mentioned in V. 91, p. 1467, has been
postponed until Dec. 7.
were favorably voted on at the election held Nov. 28.
The
Hudson, Summit County, Ohio.—Bond Offering.—Pro¬
vote was 144 “for” to 10 “against.”
Maturity March 1 1941.
posals will be received until 12 m. Dec. 20 by B. S. Sanford,
Dubuque, Dubuque County, Iowa.—Bonds Authorized.— Village Clerk, for $3,000 4J^% coupon road-improvement
Reports state that at a meeting of the City Council on Nov. bonds.
26 it was decided to issue $490,000 refunding bonds.
Authority Sections 3295, 3294, 3939, 3940, 3941, 3942 and 3947, General
De¬
*
nomination $500.
Duluth, Minn.—Bond Sale.—An issue of $50,000 4% 30year gold coupon park-improvement bonds, offered on
Nov. 28, was purchased by the N. J. Upham Co. of Duluth
at par and accrued interest.
There were no other bidders.
These are the same bonds that were sold (V. 91, p. 896) on
Sept. 26.,
that “there
nance
See V. 91, p. 896. The City Clerk informs us
was a slight mistake in the wording of the ordi¬
which necessitated
a
re-enactment and
re-sale.”
Denomination $500.
Code.
Date “day of sale.” Interest April 1 and
Oct. 1, beginning April 1 1911,atthe National Bank of Hudson In Hudson
Maturity $500 yearly on Oct. 1 from 1912 to 1917 Inclusive.
Purchaser to
pay
accrued interest.
the Village Treasurer,
tion
1909.
$425,060.
Hudson
Certified check for 10% of bonds bid for, payable to
is required. No debt at present.
Assessed valua¬
Township
(P. O. Hudson), Summit County,
Ohio.—Bond Sale.—On Nov. 28 the $10,000 434% coupon
highway-improvement bonds described in V. 91, p. 1468,
were awarded to the Citizens' Safe Deposit & Trust Co. of
Toledo at 102.12 and accrued interest.
1528
The
THE CHRONICLE
following bids
were
received:
Citlzens’S.Dep. &Tr.Co.,Tol$ 10,212 00 C. E. Denison
&
&
Co., Cle._$10,154
Otis
Hough, Cleveland. 10,202 00 New First Nat. Bk., Col... 10,143
First Nat. Bank, Cleveland 10,183 00
Hayden, Miller & Co., Cle. 10,142
SeasongoodAMayer, Cln__ 10,180 00
Cle 10,117
Stacy & Braun, Toledo.10,170 00 Tillotson&WolcottCo.,
Well, Roth & Co., Cln.
Above bidders all offered accrued Interest In addition to their 10,101
bids.
...
Maturity $1,000 yearly
—
.
I
V'OL.
I.XXXXl
Lyon Swamp Drainage District, Pender and Bladen
Counties, No. Car.—Bond Offering.—Proposals will be re¬
ceived until Dec. 22 bv B. F.
Keith, Chairman (P. O. Wil¬
for $45,000" 6% bonds.
mington),
Interest
75
00
00
50
00
annual.
3 years from date of Principal
Issue.
on Oct. 1 from 1912 to 1921 Inclusive.
payable In 10 equal Installments beginning
McArthur, Vinton County, Ohio.—Bond
Indianapolis, Ind.—Bonds Proposed.—According to local
papers, this city is considering the advisability of issuing
$100,000 bonds "to build new fire-engine houses.
Indianapolis, Ind.—Bond Sale.—An issue of $3,644 05 6%
the
Sale.—On Nov. 5
$3,000 5% 5-10-year (serial) Main Street
improvement
bonds described in V.
91, p. 1198, were awarded to Hayden,
Miller & Co. of Cleveland at 105.066—a basis of
about 4.20%.
Madison, Morris County, N. J.—Bond Offering.—It is
slated that
proposals wiil be received until Dec. 9
S. G.
Willits, Borough Clerk, for $100,000 of an authorizedby
issue of
$125,000 4)^% 10-30-year (optional) sewer bonds.
East Park District improvement bonds was awarded on
Nov. 7 to J. F. Wild & Co. of Indianapolis for
$3,684 05—
the price thus being 101.09.
Date Aug. 0 1910.
Interest June 1 and Dec. 1
Maturity one-tenth
yearly from one to ten years, subject to call, however, any June 1 or Dec. 1.
Malden, Middlesex County,
Mass.—Temporary Loan.—On
Nov. 28 a loan of
$50,000 due April 10 1911 was negotiated
with Bond & Goodwin of
Boston at 3.71% discount.
Malta Township School District
Italy Independent School District (P. O. Italy), Ellis
County, Tex.—Description of Bonds.—The $8,000 5% 10-40(P. O. Malta), Morgan
year (optional) school-house bonds registered by the State
County, Ohio.—Bond Sale.—An issue of $1,000 5% 3^-year
Comptroller on Sept. 17 (V. 91, p. 820) are in denominations (average)
building bonds was awarded on Nov.
of $500 each and are dated
Sept. 1 1910. Interest semi¬ stated, to the Malta National Bank in Malta at 21, it is
101.725.
annual
Marion County (P. O.
Marion),
Ohio.—Bond
Sale.—The
Jack County Common School District, Texas.—Bond Sale.
following bids were received on Nov. 26 for the SS4.000 5%
—The $5,000 5% 5-20-year (optional) bonds
registered by coupon Little Scioto River
improvement assessment bonds
the State Comptroller on Sept. 16 (V. 91,
p. 820,) were described in V. 91, p. 1344:
recently awarded to the Jack County permanent school fund Stacy A Braun, Toledo,.*$87,642
50 W. E. Harkness,
Marlon..$87,143 00
.
Weil, Roth A Co., Cln
87,477 60 Hayden, Miller A Co.,
Clev.87,100
Seasongood A Mayer, Cln. 87,470 00 Barto, Scott A
Co., Colum.87,024
C. E. Denison A Co., Clev.
87,385 25 R. Kleybolte Co., Inc., Cine. 86,872
Cit. Safe Dep.ATr.Co.,Tol.
87,361 00 New First Nat. Bk.,
Colum.86,730
This bid. It is reported, was
at par.
Jersey City, N. J.—Bonds Proposed.—According to local
papers the Board of Police Commissioners of this city intend
to go before the Finance Board for the
purpose of asking them
to issue $300,000 bonds for a new
police headquarters.
Johnstown School District (P. O. Johnstown),
Pa.—Bond
Sale.—On Nov. 25 the $55,000 4XA%
5-30-year (optional)
coupon school-improvement bonds described in V.
91, p.
1277, were awarded to Edw. V. Kane & Co. of Philadelphia
successful.
Maturity part each
annual.
Maryland.—Bond Offering.—Proposals will be received
m. Jan. 2 1911
by Murray Vandiver, State Treasurer,
at Annapolis, for the
following coupon (with privilege of
registration as to principal) bonds:
$300,000 4%
Insane
Jone3 County (P. O. Anson), Texas.—Bonds
Registered.—
The State Comptroller registered $6,838
5% 5-10-year (op¬
tional) refunding bonds on Nov. 23.
$24,000 sewer-system-con3tructIon bonds,
due $1,000 yearly on Jan. 1
from 1920 to 1939 Inclusive and $2,000 on
Jan. 1 In each of the
years 1940 and 1941.
36,000 watef-works-system-constructlon bonds, due $1,000
yearly on
Jan. 1 from 1916 to 1931 Inclusive and $2,000
yearly on Jan. 1 from
1932 to 1941 Inclusive.
Authority an election held Oct. 4 1910. Denomination $1,000.
Date
Jan. 1 1911.
Interest semi-annually In Atlanta.
Certified check for $1,000
is
required.
*'
.
The official notice of this bond
offering will be found among
the advertisements elsewhere in this
Department.
Knox County Common School District No.
3, Texas.—
Bonds Registered.—The State
Comptroller registered on
Nov. 21 an issue of $1,500 5%
40-year bonds.
Lakewood, Cuyahoga County, Ohio.—Bond Offering.—
Proposals wiil be received until 12 m. Dec. 28 by B. M.
Cook, Village Clerk, for $14,550 5% bonds for the purchase
until 12
250,000 4%
100,000 3 ]A%
Denomination $1,000, except
one bond of $550.
Date, “day of sale."
Interest semi-annually at the
Cleveland Trust Co. In Cleveland.
Maturity Oct. 1 1920. Certified check
for 5% of bid Is required.
Lakewood School District (P. O.
Lakewood),
County, Ohio.—Bond Offering.—Proposals will beCuyahoga
received
until 12 m. Dec. 9 by Frank R.
Thrall, Clerk Board of Edu¬
cation, for the $150,000 4>£% school-building and
improve¬
ment bonds voted
on
Nov. 8 (V.
91,
p.
1344).
Authority, Sectons 7625, 7626 and 7627, General Code.
Denomination
$1,000.
Date “day of sale.”
Interest April 1 and Oct.
1. Maturity
$5,000 yearly on Oct. 1 from 1913 to 1942
inclusive.
Certified
check on a
Bank in Lakewood or Cleveland for
10% of bonds bid for, payable to the
Treasurer of the Board, Is required.
Laramie, Albany County, Wyo.—Bonds Voted.—The
tion held
elec¬
Nov. 8 resulted in favor of the
propositions to issue
the $15,000 sewer and the
$55,000 water 5% 10-year bonds
mentioned in V. 91, p. 1278.
A circular received from the
City Clerk states that “these bonds will not be offered for
sale this year and
probably not until the spring of
perhaps later, as no definite action will be taken until 1911,
after
the newly-elected Mayor and members of
the Council shall
have taken their seats
during the first week in January 1911
Livingston School District (P. O. Livingston), Merced
County, Cal.—Bond Sale.—E. H. Rollins & Sons of San Fran¬
cisco have been awarded, it is
stated, an issue of $10,000
bonds.
Lorain, Lorain County, Ohio.—Bids.—The
following bids
were reoeived on Nov. 23 for the
$21,500 4^% coupon sani¬
tary-sewer bonds awarded on that day, as stated in V.
91,
p. 1468, to the Davies-Bertram Co. of
Davies-Bertram Co., Cine. .$21,863
Barto, Scott & Co., Colum.. 21,851
C. E. Denison A Go., Ciere..
21,842
Well, Roth & Co., Clncln.
21,837
R. Kleybolte Co., Inc., Cln__
21,835
Breed A Harrison, Olnoln
21,822
Lucas County (P. O.
Cincinnati
at 101.688.
Provident Save. Bank & Tr.
Co., Cincinnati
$21,820
Otis & Hough, Cleveland
21,812
Seasongood & Mayer, Cin___ 21,765
Stacy & Braun, Toledo
New First Nat. Bk., Colum... 21,735
21,717
Toledo),
Vote.—The
vote cast at the eleotion held Nov. Ohio.—Official
8 On the question of
issuing
the $250,000
memorial-building bonds (V. 91, p. 1401) is
officially reported as being 18,988 “for” to 7,902
“against.”
hospital Series "A” bonds. Authority Chapter 250,
Acts of the General
Assembly of 1910.
1926, subject to call after Jan. 1 1921. Maturity Jan. 1
public-highway Series “A” bonds. Authority Chapter 116,
Acts of the General
Assembly of 1910.
1926, subject to call after Jan. 1 1921. Maturity Jan. 1
sanatorium bonds.
Authority Chapter 411, Acts of the
General Assembly of 1910.
Maturity Jan. l 1926.
The above bonds are in
denominations of $1,000 each and are dated
Jan. 2 1911.
Interest Jan. 1 and
July 1. The bonds are exempt from
State, county and municipal taxation, and will be delivered
Jan. 10 1911.
Certified check for 5% of bid Is
Accrued Interest to be paid by
required.
the purchaser.
Mason
City, Custer County, Neb.—Bond Offering.—Pro-
will be without
6% park
Eosals
received at any time
$2,000
onds offered
Sept.for12.the See
V. 91, p. 821.
success on
M. L. Lamb is
Village Clerk.
Meadows School District No. 9 (P. O.
Meadows), Wash¬
ington County, Idaho.—Bond Offering.—Proposals will be
received until Dec. 10 by M. E.
Keizur, Clerk, for $6,000
5% coupon school-house bonds.
Denomination $1,000.
Date Oct. 29 1910.
Treasurer’s office In Welser.
Maturity Oct. 29
ever, before that date.
of real estate.
Authority Section 4520, General Code.
Sept. 1 1920, lncl.
Marlboro, Ulster County, N. Y.—Bond Sale—On Nov. 26
the $10,000 5-14-year
(serial) school bonds mentioned in
V. 91. p. 1468, were awarded to Sands
Haviland at 100.79 for
41^3. Denomination $1,000. Date Jan. 1 1911. Interest
at 101.75 and accrued interest.
Kirkwood, De Kalb County, Ga.—Bond Offering.—Pro¬
posals will be received until 8 p. m. Dec. 20 by E. M. Willing¬
ham, Mayor (540-542 Whitehall St., Atlanta), for the fol¬
lowing 5% gold coupon bonds:
six months from March 1 1911 to
00
00
80
00
No debt at present.
Interest at the County
1930, subject to call, how¬
Assessed valuation $240,000.
Mechanic3burg, Cumberland County, Pa.—Bonds
Borough Council has
thorized.—It is stated that the
thorized
the
issuance
bonds.
of
Au¬
au¬
$40,000 4% street-improvement
Medina, Gibson County, Tenn.—Bond Offering.—Pro¬
posals will be received until 1p.m. Dec. 20 by W. O. Graves,
Mayor, for $6,000 6% town bonds.
Denomination $500.
Co. In Medina.
Interest Jan. 1 and July 1 at the Medina
Banking
years, subject to call after 10 years.
Maturity 20
Mendenhall, Simpson County, Miss.—Bond Offering.—
Proposals will be received until 2 p. m. Dec. 6 for $7,000 5%
coupon high-school-building bonds mentioned in V. 91, p.479.
Denomination
S350.
Interest annually on Nov. 14.
Maturity
bond each year for 20 years.
C. W. McLeod Is Town Clerk.
one
Mineral Wells, Palo Pinto County, Tex.—Bonds
Regis¬
tered.—An issue of $3,000 5%
20-40-year (optional) sewer
bonds was registered on Nov. 23
by the State Comptroller.
Montclair, Essex County, N. J.—Bond Offering.—Propos¬
als will be received until 8
p. m. Dec. 12 by S. H. Wenck,
Town Treasurer, it is stated, for $66,000
4% 30-year refund¬
ing sewer bonds. Interest semi-annual. Certified check for
2% is required.
Mt. Vernon School District (P. O. Mt.
Vernon), Knox
County, Ohio.—Bond Offering.—Proposals will be received
until 2 p. m. Dec. 12 by George Coyner, Clerk Board of Edu¬
cation, for $26,000 4% coupon refunding bonds.
Authority,
Section
5657, General Code.
Denomination $599.
Date
Interest semi-annually in Mt. Vernon.
Maturity 20 years,
subject to call after 5 years.
Bonds are exempt from all taxes.
No de¬
Dec. 1
1910.
posit required with bids.
Purchaser to pay accrued Interest.
Newburgh Heights (P. O. Cleveland), Ohio.—Bond Sale.—
On Nov. 5 the six issues of 5% coupon sewer
improvement
assessment bonds,
aggregating $6,397 16, described in
V. 91, p. 979, were awarded to Hayden, Miller & Oo. of
Cleveland for $6,641 17, the price thus being 101,814.
New Carlisle, Clark County, Ohio.—Bond
Offering.—Pro¬
posals will be received until 8 p. m. Dec. 5 by J. E. Johnson,
Village Clerk, for the $20,000 5% coupon water-worksconstruction bonds voted on Sept; 27 (V.
91, p. 899).
at
Denomination $500.
Date Nov. 1 1910.
Interest March 1 and Sept. 1
the Village Treasurer’s office.
Maturity $500 oaah six months from
Sept. 1 1912 to Sept. 1 1931
1529
THE CHRONICLE
Deo. 3 1910. |
Inclusive.
Bonds are tax-exempt. Certified
Village Clerk, Is required.
check for 5% of bonds bid for, payable to the
Bonded debt. Including this issue, $21,000.
Assessed valuation In 1910, $711,000. .
j,i; ■
,
Floating debt, $1,000.
....
,
,,
vote
on
bonds.
Port
the
••••■
question of issuing $75,000 water-works-addition
/,
.
■
>
;t
'
* j
.•
n
K*
-lr..
Hope Township, Beltrami County, Minn.—Bond
Oneida County, N. V .—No Action Offering.—Proposals will be received until 10 a. m. Dec. 5
28 no action had yet been taken by Wm. Gerlinger, Township Clerk, for $6,000 bonds at not
looking towards the issuance of the $1,200 sewer bonds voted exceeding 6% interest.
Authority Section 785. Revised Laws for 1905. and the amendments
(V. 91, p. 821,) on Sept. 19. Our informant further states
thereto.
Maturity one bond each year from 1 to 18 years Inclusive.
that he does not think anything will be done before spring.
Portland,
Ore.—Bond Sale.—Local papers state that an
Newton Township (P. O. Pleasant Hill), Miami County,
issue of $475,000 6% 10-year improvement bonds, offered
Ohio.—Bond Sale— On Nov. 26 an issue of $7,000 4y2%
on Nov. 21, was disposed of at prices ranging from par to
bonds was awarded to H. L. Johnson for $7,166, the price
New Hartford (Village),
Yet Taken.—Up to Nov.
thus
being 102.371.
Date Nov. 1 1910. Maturity
Nov. 1 1925 Inclusive.
Denomination $500.
from May 1 1919 to
$500 each six months
100.50 inclusive.
It is further stated that of the bonds dis¬
posed of, $76,000 were purchased by funds of the city.
Bond Election Proposed.—It is expected that the charter
amendment providing for the $1,000,000 auditorium bond
issue will be presented at the city election to be held next
Niagara County (P. O. Lockport), N. Y .—Bonds De¬
feated.—A proposition to issue $100,000 almshouse bonds June.
was defeated at the election held Nov. 8.
Bonds Voted.—The official vote on the charter amend¬
North Attleboro, Bristol County, Mass.—Temporary Loan.
ment providing for the $2,500,000 bond issue for public
—Reports state that a loan of $40,000, due April 8 1911, has docks, submitted on Nov. 8, was 18,771 “for” to 8,305
been negotiated with C. D. Parker & Co. of Boston at 3.69%
“against.” V. 91, p. 1401.
discount and a premium of 10 cents.
Portland School District No. 1, Multnomah County, Ore.—
North Dakota.—Bonds Purchased by the State During Oc¬
Bond Offering.—Further details are at hand relative to the
tober.—The following 4% bonds, aggregating $20,180, were
offering on Dec. 15 of the $350,000 4^£% high-school bonds
purchased during October by the State of North Dakota mentioned in V. 91, p. 1469. Proposals will be received
at par:
Bowbells, Burke County—$4,000 general water-works, $5,800 special
water-works and $4,380 special sewer 20-year bonds dated Sept. 1 1910.
Gorham School District No. 15, Billings County—$3,000 20-year build¬
ing bonds dated Aug. 10 1910.
Monson School District No. 70, Morton County—$2,000 15-year building
bonds dated Sept. 1 1910.
Williams County School District No. 20—$1,000 10-year building bonds
dated June 1 1910.
Interest semi-annual.
None of the above bonds are subject to call.
Norwood, Hamilton County, Ohio.—Bond Sale.—The
$5,935 23 Hudson Ave. macadam and the $1,465 70 stonesidewalk-construction 4J^% bonds offered on Nov. 28 and
described in V. 91, p. 1469, were awarded, the former issue
to Weil, Roth & Co. of Cincinnati at 101.551, and the latter
issue to the First National Bank of Norwood at 100.477.
In addition to the above, the city also awarded on the
same day (Nov. 28) issues of $7,862 Ridgewood Ave. and
$5,847 Burwood Ave. 43^% bonds to Weil, Roth & Co. and
the German National Bank, both of Cincinnati.
Oceanside, Cal.—Bond Sale.—The $20,000 5% 1-40-year
(serial) water-works-improvement bonds voted on Sept. 14
(V. 91, p. 979), were awarded on Nov. 23 to J. H. Adams &
Co. of Los Angeles at 102.0825.
Denomination $500. Date
that day by John M. Lewis, County Treas¬
(P. O. Portland).
until 2 p. m. on
urer
Denomination SI.000.
Date Oct. 1 1910.
the County Treasurer’s office or In New York
subject to call after 10 years.
Interest semi-annually at
City. Maturity 20 years,
Qoincy, Norfolk County, Mass.—Bond Sale.—It is stated
4% coupon street-improvement
1469, were awarded to Blodget
that on Nov. 29 the $19,000
bonds described in V. 91, p.
& Co. of Boston at 101.666.
Maturity $2,000 yearly on Oct. 1 from 1911 to 1919
Oct. 1 1920.
inclusive and $1,000
Randall County Common School District No. 20, Tex.—
Bonds Not Yet Sold.—No award has yet been made of the
$700 bonds—the unsold
portion of the issue of $1,500 5%
20-year bonds mentioned in V. 91, p. 822.
We
are
informed
the school was built
of the $800 bonds.
Reading (P. O. Cincinnati), Ohio.—Bonds Authorized.—
The issuance of $2,125 43^% 10-year street-improvement
bonds has been authorized, it is stated.
Reno School District No. 10 (P. O. Reno), Washoe County,
Nev.—Bond Offering.—Proposals will be received until
Jan. 1 1911.
Interest semi-annual.
1 p. m. Dec. 15 by Theo. W. Clark, Clerk of Board of School
Oklahoma County (P. O. Oklahoma), Okla.—Bonds
Trustees, for $250,000 5% school-building bonds voted on
Voted.—Reports state an election held recently resulted in Oct. 1 (V. 91,.p. 1200).
favor of a proposition to issue $500,000 highway bonds.
Denomination $500.
Date March 1 1911.
Interest semi-annually at
Oktibbeha County Road District No. 1 (P. O. Starkville), the County Treasurer’s office. Maturity $12,500 yearly on March 1 from
1912 to 1931 Inclusive. Certified check for $2,500, payable to the Trustees,
Miss.—Bond Not Sold.—No sale has been made of the is required. The entire issue will be delivered on March 1 1911 or In
blocks of $100,000 on March 1 1911 and $75,000 on June 1 1911 and on
$20,000 5% 11-20-year (serial) Road District No. 1 bonds Nov. 1 1911.
offered on Nov. 7.
Denomination $500. Date Oct. 3 1910.
Rensselaer County (P. O. Troy), N. Y.—Bond Offering.—
Onida, Sully County, So. Dak.—Bonds Not Sold.—Up to
Nov. 21 no bids had been received for the $10,000 5% 10-20- Proposals will be received until 12 in. Dec. 15 by Arthur
MacArthur, County Treasurer, for $95,000 4% registered
year (optional) water-works-system bonds offered on Oct. 29
jail
bonds, being part of an authorized issue of $200,000.
and described in V. 91, p. 1051.
Denomination $1,000.
Interest semi-annually at
Date Aug. 1 1910.
Ontario, San Bernardino County, Cal.—Bond Offering.— the County Trea urer’s office. Maturity $6,000 yearly on Aug. 1 from
1911 to 1920 Inclusive and $7,000 yearly on Aug. 1 from 1921 to 1925 in¬
Reports state that proposals will be received until Dec. 5 for clusive. Certified check for 2% or bonds bid for, payable to the County
the $175,000 water bonds voted (V. 91, p. 1344) on Oct. 31. Treasurer, Is required. Bonds will be certified as to genuineness by the
U. S. Mortgage A Trust Co. of New York City, and their legality approved
Orleans, Harlan County, Neb.—Bonds Not Yet Sold.—We by Caldwell A Reed of New York City, whose opinion will be furnished to
the
purchaser.
Bids to be made on blank forms furnished by the County
are advised that up to Nov. 28 no sale had yet been made
Treasurer.
Delivery of bonds Jan. 3 1911. Purchaser to pay accrued
of the $20,000 5-20-year (optional) water-works-system interest.
bonds mentioned in V. 91, p. 745.
Rice Lake, Barron County, Wis.—Bond Sale.—It is stated
Ottumwa, Wapello County, Iowa.—Bonds Voted and Sold. that on Nov. 15 the $15,000 6% 10-year Sewer District
—The proposition to issue the $175,000 5% water-works No. 1 bonds described in V. 91, p. 1279, were awarded to
bonds mentioned in V. 91, p. 1279, carried by a vote of Ulen & Co. of Chicago for $15,165 50—the price thus being
1,300 to 1,100 on Nov. 22. We are advised that this issue 101.103.
has been disposed of.
*
Romney, Hampshire County, W. Va.—Bond Election.—
Oyster Bay Union Free School District No. 21, Nassau The election to vote on the proposition to issue water bonds
County, N. Y.—Bond Sale.—An issue of $15,000 4 3^% will be held Jan. 5 1911. See V. 91, p. 900.
10-39-year (serial) bonds was recently awarded to Douglas
Rutherford School District (P. O. Rutherford), Bergen
Fenwick & Co. of New York City.
County,
N. J.—Bond Offering.—Proposals will be received
Denomination $500.
Date Dec. 1 1910.
Interest semi-annual.
until 8 p. m. Dec. 12 by C. P. Perham, District Clerk, for
Phoenix Union School District, Maricopa County, Ariz.-—
$86,000 4y2% bonds.
Bond Sale.—An issue of $150,000 5% bonds has been dis¬
Authority election held Oct. 5 1909.
Denomination $1,000 except one
posed of at private sale to W oodin, McNear & Moore of Chi¬ bond of $300. Date Feb. 1 1910. Interest semi-annually at the Ruther¬
ford National Bank In Rutherford.
Maturity 40 years.
cago at 101.50 and accrued interest.
Purchaser to furnish
blank bonds.
These securities take the place of the $150,000
Salamanca, Cattaraugus County, N. Y.—Bond Sale.—On
bonds awarded on June 7, the sale of which, as reported in Nov. 23 $8,384 40 20-year paving bonds were awarded to
John J. Hart of Albany for $8,484 76 (101.196) and accrued
Y. 91, p. 293, was never consummated.
*
Phoenixville School District (P. O. Phoenixville), Chester interest for 43^s.
Denominations $119 17 and $300.
Date Aug. 1 1910. Interest semi¬
County, Pa.—Bonds Awarded in Part.—Up to Nov. 25 annual.
$60,000 of the $100,000 4% registered school-building bonds
Salem, Marion County, Ore.—Bond Sale.—On Nov. 28
described in V. 91, p. 1116, had been disposed of to local the
$400,000 5% 25-year gold water bonds described in
investors.
V. 91, p. 1200, were awarded to Emery, Peck A Rock wood
Pittsburgh, Pa.—Hiland Sub-School District.—Bond Sale. of Chicago and Blodget & Co. and E&tabrook & Co. of Boston
—On Nov. 30 the $250,000 4^% 20-29-year (serial) bonds at their joint bid of 106.30 and accrued interest.
Following
described in V. 91, p. 1401, were awarded, it is stated, to the are the bids:
Morris Bros., Portland
Commonwealth Trust Co. of Pittsburgh.
Emery, Peck A Rockwood,
9417,080
Harris
Trust
A
Savings
0
Chicago: Blodget A Co.,
Bank. Chicago
Plainville, Rooks County, Kan.—Bond Election Pro¬
and Estabrook & Co., Bos.$425.200
414,325
Woodln, Mo Near A Moore
A. Read & Co. and
posed.—The matter of holding an election to vote on the Wm.
and Well, Roth A Co..Chi. 412,844
E. H. Rollins A Sons, Chi. 418,720
N. W. Halsey A Go., Chicago 407,237
question of issuing $10,000 city-hall bonds is being discussed, Farson, Son A Co. and Mc¬
Coy A Co., Chicago
418,212
according to local papers. <
j.
Sapulpa, Creek County, Okla.—Bond Sale.—An issue of
Porterville, Tulare County, Cal.—Bond Election Proposed.
—Reports state an election will be held within 30 days to $5,000 5% fire-alarm bonds has been disposed of to the
that these bonds may be canceled, as
with the money derived from the sale
.
,
1530
THE
Gamewell Fire-Alarm
CHRONICLE
Telegraph System of New York City
in payment for work done.
Bond
Offering.—Proposals will be
received
by Ira J.
Anderson, City Clerk, for $10,000 fire-apparatus bonds.
Scott County (P. 0. Gates City), Va.—Bond Election.—
It is stated that the election to vote on the
proposition to
issue $300,000 highway bonds, mentioned in V.
91, p. 1201,
will be
held Dec. 14.
Scranton, Pa.—Bond Offering.—Local
state that
the City Comp¬
$210,000 funding bonds.
Sea Isle City, Cape May County, N. J.—Bond
Offering.—
Proposals will be received until 8:30 p. m. Dec. 12 by the
Finance Committee of the City Council for the
following
30-year coupon bonds: $20,000 5% street-improvement,
$5,000 5% fire, $6,000 5% gas and $14,000 4% gas. De¬
nomination $1,000.
A. L. Muller is Chairman of Finance
papers
the Mayor has signed a resolution
directing
troller to advertise for proposals for
Committee.
[VOL.
dock bonds described in V.
91, p. 1402.
bonds will be received until 2
LXXXXI.
Proposals for these
day at the office
p. m. on that
of
A.
V.
Fawcett, Mayor.
Authority election
held Oct. 29 1910; also Sections 7 and
152, City
Denomination $1,000.
Date Jan. 1 1911.
Interest (rate not
5%) payable semi-annually at the fiscal agency of
Washington In
New York City.
Maturity Jan. 1 1931.
Bid to be made on a form fur¬
nished by the city.
Purchaser to pay accrued Interest.
Official
circular
states there Is no litigation
pending affecting these bonds; also that th«
city has never defaulted In the payment of
any of Its obligations.
Charter.
to exceed
The
official notice of this bond offering will be found among
Department.
Trumbull County (P. O. Warren), Ohio.—Bond
Sale.—
On Nov. 28 the
following bids were received for the $10,000
5% coupon bridge-building bonds described in V.
91, p. 1470:
Union Nat.
the advertisements elsewhere in this
Bk., Warren.*$10,465 00 Stacy & Braun, Toledo
$10,259
10,292 00 Otis & Hough, Cleveland, 10,252
10,278 00 Well, Roth & Co., Cincln. 10,252
Sec.Sav.Bk.&Tr.Co., Tol. 10,267 00 C. E. Dennison & Co., Cle. 10,237
Hayden, Miller & Co., Cle. 10,222
We are advised
on
70
00
00
75
West.ReserveNat.Bk.,War
Seasongood&Mayer, Cln_
*
that
account of
a
clerical
00
this
error
bid was withdrawn.
Seattle, Wash.—Bonds Voted.—According to local papers,
Maturity $1,000 each six months from Mch. 1 1912 to
Sept. 1 1916 In¬
clusive.
propositions to issue bonds for a municipal light plant and
$46,000 bonds to absorb the debt of Georgetown were
Tyler, Smith County, Tex.—Bids.—We are informed that
favorably voted upon Nov. 8.
negotiations are pending for the sale of the $11,000
5%
Bonds Defeated.—It is further stated that the
following 10-30-year (optional) water-main bonds, registered by the
bonds failed to receive the required three-fifths
State Comptroller (V. 91
majority:
Jp. 747) on Sept. 1.
$192,000 to re-grade Fourth Avenue and Jackson Street,
Union, Union County, Ore.—Bonds Not
Sold.—According
$40,000 for a steel bridge over Fifteenth Avenue and to reports no sale was made on
Nov. 21 of $71,000 water¬
$1,000,000 for a new city hall.
works and $12,000
refunding 5% 10-20-year (optional) bonds
Bonds to be Offered Shortly.—On Nov. 21 the
City Council offered on that day.\
authorized the City Comptroller to advertise for bids for
Union County (P. O.
Marysville), Ohio.— Bond Offering —
$421,000 general fund bonds, $46,000 Georgetown bonds,
Proposals
will be received until 12 m. Dec. 10
$100,000 municipal lighting bonds, $400,000 garbage bonds
by Bert J.
Shelton, County Auditor, for $30,000 5% coupon gravel and
and $1,000,000 bark bonds.
The Thos. J. Bolger Co. of
stone road bonds.
&
Chicago and Hayden, Stone & Co. of Boston recently made
Authority Sections 6,926-50 and 2294, General Code. Denomination
a joint offer of 102.80 for the
$1,000,000 park bonds. This bid $500. Date Dec. 1 1910. Interest semi-annually at the
County Treasurer’s
was withdrawn,
Maturity $2,500 each six months from June 1 1911
however, owing to the action of the Finance office.
to Dec. 1 1916
inclusive.
Certified check for $500 Is required.
Committee in reporting against the sale.
Bidders’to
seves as to
legality of bonds before bidding, as bids must be satisfy themunconditional
Sheboygan, Sheboygan County, Wis.—Bond Offering.— and made on blank forms furnished by the Auditor.
Union
Proposals will be received until 3 p. m. Dec. 15 by Theo.
County (P. O. Elizabeth), N. J.—No Action Yet
Dieckmann, Mayor, and John M. Steimle, City Clerk, for Taken.—The County Collector writes us, under date of
$96,000
refunding bonds, being part of an issue of Nov. 26, that no action has yet been taken looking towards
the issuance of the
$114,000.
$50,00() hospital bonds mentioned in
Authority Sections926 11,942-c and 943, Statutes of 1898 and amend¬
V. 91, p. 824.
He adds, however, that something will be
ments thereto.
Date Sept. 1 1910.
Interest
semi-annually at the Chemical
National Bank In New York City.
Maturity $6,000 yearly on March 1 from
1914 to 1929 Inclusive.
Certified check on a national bank (or cash) for
3% of bonds bid for, payable to the City
Treasurer, is requiredr Official
circular states that there is no litigation
pending concerning the validity
of said bonds.
Sherwood, Defiance County, Ohio.—Rate of Interest.—We
advised that the $1,425
electric-light bonds awarded
recently to M. S. Pond of Somerset at 104.46 (V. 91, p. 1345)
carry 6% interest.
Shickshinny, Luzeme^County, Pa.—Bonds Voted.—This
borough has voted to issue $6,000 bonds. Up to Nov. 26
no action had been taken
by Council regarding their issuance.
Southold Union Free School District No. 9
(P. O. Mattituck), Suffolk County, N. Y.—Bond Sale.—On Nov. 28 the
following 5% bonds were awarded to Adams & Co. of New
York City for $14,636—the
price thus being 106.057:
are
$13,000
school-bulldlng-enlargement
bonds.
Denomination $650. Ma¬
Dec. 31 from 1913 to 1932 Inclusive.
school-bulldlng-slte bonds. Denomination $400. Maturity $400
on Dec. 31 In each of the
years 1911 and 1912.
Authority, election held Oct. 27 1910. Date Nov. 26 1910. Interest
Jan. 1 and July 1,,
800
turity $650 yearly
on
Sparta School District No. 1 (P. O. Sparta), Monroe
County, Wis.—Bids Rejected.—The following bids, all of
which were rejected, were received on Nov. 26
for the $5,500
5% school-building bonds described in V. 91, p. 1402:
Wm. R. Compton Co., St. Louis
$5,505
N. W. Halsey & Co., Chlcago__par and
Interest, less $50 for legal expenses
Farson, Son & Co., Chicago
par, less $50 for legal expenses
Hanchett Bond Co., Chicago
par and Interest, „less$95 for legal expenses
Sterling, Whiteside County, III.—Bond
Election.—Reports
an election will be held
state
issue $4,000
bonds.
to
Dec. 15 to vote
on a
proposition
5% (city’s portion) Locust Street paving
»
Denomination $500.
Interest to commence Feb.
$500 yearly from 1913 to 1920 inclusive.
1
1911.
Maturity
Stoneham, Middlesex County, Mass.—Bond Sale.—On
Dec. 1 the $1,000 water and
$2,000 sewer 4% bonds described
in V. 91, p. 1470, were awarded to R. L.
Day & Co. of Boston
at 104.53
and
follows:
as
accrued
interest.
The bids
received
R. L. Day & Co
104.53 Adams & Co
Blodget & Co
104.25 Blake Bros. & Co
Geo. A. Fernald & Co
104.21 Perry, Coffin & Burr.
Above bidders are all of Boston.
Maturity of water bonds May 1 1930; sewer bonds June 1
were
104.01
103.89
101.80
1928.
done
soon,
Vandalia, Fayette County, Ill .—Bond
$10,000 6% coupon electric-light and
Sale.—On Nov. 14
water-works bonds
dated Dec. 1 1910 and described in V.
91, p. 1281, were sold
to
the
Farson, Son & Co. of Chicago at 106.33.
Maturity $500
each six months from June 1 1912 to Dec. 1
1921 inclusive.
Ventnor City, N. J.—Bond
Offering.—Proposals
received until 8 p. m. Dec. 7 by E. Steelman
Clerk, for the following 5% bonds.
will be
Royal, City
$25,000
sewer bonds.
Date Sept. 1 1910.
Maturity Sept. 1 1940.
50,000 Ventnor Avenue Improvement bonds.
Date Nov. 1 1910.
Ma¬
turity Nov. 1 1940.
Bonds may be registered as to
principal only. Certified check for 2%
of bid, payable to Robert W. Bartlett,
City Treasurer, is required.
Bid*
must be made upon blank forms furnished
by the city.
Walworth, Walworth County, Wis.—Bond Offering.—
Proposals will be received until 8 p. m. Dec. 5 by H. I.
Coon, Village President, or Amos H. Hitchcock, Clerk, for
$18,000 5% water-works-construction bonds voted on Aug.16
(V. 91,
p.
747).
Denomination $500.
Interest annually beginning Feb. 1 1912.
Ma¬
turity $500 yearly from 1916 to 1919 Inclusive, $1,000 yearly from 1920 to
1923 Inclusive and $1,500 yearly from 1924 to 1931
Inclusive.
Warren, Trumbull County, Ohio.—Bond Sale.—Reports
on Nov. 19 the four issues of
4J^% coupon (city’s
portion) sewer bonds, aggregating $23,630, described in
V. 91, p. 1201, were awarded to the Western Reserve Na¬
state that
tional Bank in Warren.
Waynesfield School District (P. O. Waynesfield), Auglaize
County,Ohio.—Bond Sale.—According to reports,on Nov. 19
the $18,000 5% coupon
school-building bonds described in
V. 91, p. 1402, were awarded to the New First National Bank
in Columbus at 105.45.
Maturity $500 each six months from March
Inclusive.
1
1912
to
Sept.
1
1929
Webb
City, Jasper County, Mo.—Bond Election Proposed.
held, it is stated, to vote on a question
of issuing $25,000 cemetery-site bonds.
Wellsville, Columbiana County, Ohio.—Bond Sale.—On
—An election will be
Nov. 26 the $6,000 43^% 20-year park-purchase and
$2,778 67 5% 1-10-year (serial) street-paving bonds described
in V. 91, p. 1402, were awarded to Weil, Roth & Co. of Cin¬
cinnati for $9,130 67 (104.009) and accrued interest.
Other
bids received were as follows:
Stratton, Hitchcock County, Neb.—Bond Offering.—Pro¬
posals will be received until 1 p. m. Dec. 9 by Fred ShotPremium.
Premium
bolt, Village Clerk, for $12,000 6% water-works bonds. New First Nat. Bk., Colum..$342 75 Hayden, Miller & Co., Cleve_$242 00
Seasongood
& Mayer, Cln— 320 58 Mansfield Sav. Bank, Mansf, 196 08
Denomination $500. Maturity 20 years.
Bond
Summit, Union County, N. J.—Bond Sale.—The $72,000 Dec. 28 Offering.—Proposals will be received until 12 m.
by J. F. McQueen, City Auditor, for $10,000 4y2%
43^% 30-year funding bonds, bids for which were rejected
refunding bonds.
on Sept. 20 (V.
91, p. 823), have been sold, we are advised,
Denomination $500.
Date Jan. 1 1911.
Interest annual.
Maturity
at
■
private sale.
Superior, Douglas County, Wis.—Bond Election Proposed.
—According to reports, an election will be held to vote on a
proposition to issue bridge bonds.
Tacoma, Wash.—Bond Offering.—Additional details are
at hand relative to. the
offering on Dec. 8 of the $405,000
gold coupon (with privilege of registration) public-wharf and
Jan. 1 1931.
Certified check for 3% of bonds bid for, payable to the
City
Treasurer, Is required.
Purchaser to pay accrued Interest.
S^Wise County (P. O. Wise), Va.—Bonds Voted.—The
elec¬
tion held Nov. 22 resulted in favor of the proposition to
issue
the $700,000 good-road bonds mentioned in V.
91, p. 420.
The vote was 1,981 “for” to 176 “against.”
Wood County (P. O. Bowling Green), Ohio.—Bond
Offering.—Proposals will be received until 11 a. m. Dec. 12 by
Toan, County Auditor, for
highway improvement bonds.
F. W.
Authority, Act passed
$50,000 5% coupon public-
April 4 1900, 94 Ohio
Laws, page 96.
Denomina¬
Date Dec. 15 1910.
Interest March 1 and Sept. 1 at the
County Treasurer’s office.
Maturity $5,000 each six months from March 1
1911 to Sept. 1 1915 Inclusive.
Certified check on a bank In Bowling Green
for $1,000 Is required.
Purchaser to pay accrued Interest. Official ad¬
vertisement states that this county has never defaulted In the payment of
principal or Interest on Its Indebtedness.
tion $1,000.
County,
Wayne
Wooster,
1531
THE CHRONICLE
Deo. 3 1910,
Ohio.—Bond Offering.—Pro¬
Carberry, Man.—Debentures to Be Offered Shortly.—We see
place will soon be in the market with
$1,215 72 and $1,376 44 5% 20-year local-improvement
it stated that this
debentures.
Coblenz, Sask.—Loan Authorized.—According to reports
Village Council has been authorized to borrow $2,000
the
for
permanent improvements.
Dresden, Ont.—Price Paid for
Debentures.—We
are
ad¬
price paid for the $17,000 4^% 20-year
school-building debentures awarded during September to
W. A. Mackeznie & Co. of Toronto (V. 91, p. 749) was 95.50
posals will be received until 12 m. to-day (Dec. 3) by J. B.
Minier, City Auditor, for $5,000 4% coupon bonds, voted at
a special election on Nov. 17 for the purpose of procuring
real estate for the erection of a water-works.
vised
Interest semi-annually at the
Sinking Fund Trustees’ office.
Maturity Dec. 1 1920. Bonds are taxexempt.' Certified check for 5% of bonds bid for, payable to the City
Purchaser to pay accrued Interest.
Treasurer, is required.
Yonkers, N. Y.—Bond Sale.—A list of the proposals sub¬
mitted on Nov. 28 for the four issues of 4}^% registered
bonds described in V. 91, p. 1471, follows:
Elbow, Sask.—Debenture Offering.—Reports state that
proposals will be received for $5,000 permanent-improvement
debentures.
R. Longmore is Secretary-Treasurer.
Elgin County (P. O. St. Thomas), Ont.—Debenture Sale.—
Reports state that G. A. Stimson & Co. of Toronto have
been awarded the $10,000 4)^% debentures mentioned in
V. 91, p. 1282.
Maturity part yearly for 10 years.
Estevan, Sask.—Debenture Election.—According to reports,
an election will be held Dec. 12 to vote on the question of
issuing $10,000 5% 20-year local-improvement debentures.
Gainsborough School District No. 229, Sask.—Debenture
Sale.—We are advised that the $1,700 6% debentures offered
on Oct. 21 (V. 91, p. 1117), were sold about the latter part
Date Dec. 1 1910.
Denomination $500.
$125,000
$40,000
$40,000
$20,000
revenue
water
bonds.
101.893
school
bonds.
101.033
city-hall
bonds.
bonds.
101.033
New York
al00.665 al03,431
C. E. Denison & Co., Cleveland
103.279 alOl.91
alOl.91
A. B. Leach & Co., New York
100.279
101.416
N W. Harris & Co., New York (for the four issues)
101.27
E." H. Rollins & Sons, Boston (for “all or none”)
101.162
Kountze
Bros., New York (for the four Issues)
101.05
Perry. Coffin & Burr. New York (for “all or none”)
Adams & Co., New York
100.47
102.11 101.777 101.777
N. W. Halsey & Co., New York
102.812
Parkinson & Burr,
a
the
and accrued interest.
Successful bids.
Youngstown
that
School District (P. O. Youngstown), Ohio.—
Bond Offering.—Proposals will be received until 12 m. Dec.
19 for $150,000 4yz% coupon bonds.
Authority election held May 17 1910.
Denomination $1,000. Interest
semi-annually at the City Treasurer’s office.
Maturity $50,000 yearly on
Sept 1 from 1934 to 1936 Inclusive.
Certified check for 10% of bonds bid
for Is required.
Bids must be unconditional. W. N. Ashbaugh is Director
of Schools.
Canada, its Provinces and Municipalities.
Burnaby, B. C.—Debenture Sale.—According to reports,
$116,000 5% sidewalks and water-works debentures were
awarded recently to the Ontario Securities Corp. of Toronto.
of that month to the Canada Landed & National Investment
Co. of Winnipeg at par.
The following bids were received:
a$l,683 00
Canada Landed & Nat.
j Nay & James, Regina
Invest.Co., Winnipeg-_a$l,700 00 Ontario Securities Corpor¬
ation, Ltd., Toronto
al,667 00
O’Hara & Co., Win¬
nipeg
al.683 00 Tracksell, Anderson & Co.,
Regina
&1.702 85
H.
a
For 6s.
b For 6 Hs.
Maturity part yearly for 15 years.
Glenavon, Sask.—Debenture Offering.—Proposals will be
received, it is stated, for $2,000 permanent-improvement
J. C. Copeland is Secretary-Treasurer.
debentures.
Guelph, Ont.—Price Paid for Debentures.—We are advised
price paid for the four issues of 4^% debentures,
aggregating $15,237 46, awarded on Nov. 7 to Brouse,
that the
NEW LOANS.
NEW LOANS
NEW. LOANS
$6,000
GORDO, ALABAMA,
$220,000
$25,000
Town of Conrad, Montana, City of East Orange, N. J.,
SEWER BONDS
SCHOOL BONDS
Notice Is hereby given by the Town Council
of the town of Conrad, In the State of Montana,
that the sewer bonds of said town In the sum of
SERIES “V”—40 YEARS
SCHOOL BONDS
Sealed bids for $6,000 00 of twenty-year semi¬
annual five per cent School Building Bonds of the
Town of Gordo, Alabama, are to be opened at
the Council Meeting of said town on the 19TH
DAY OF DECEMBER, 1910.
Bonds cannot be
sold below par.
Gordo Is a thriving young town
on the Mobile & Ohio Railroad of 800 population,
with no debt, and the leading town of the County.
Sealed bids should be filed with,
W. S. CARVER, Mayor.
$60,000
TOWN OF KIRKWOOD, GA,
WATER AND SEWER BONDS
the Town
20TH for
$60,000 00 Town of Kirkwood 5% semi-annual
Interest, Water and Sewer Bonds, maturing
Bids should be addressed to the under¬
serially.
signed and should state on the envelope that they
Sealed proposals will be received by
of Kirkwood, Ga., up to 8 p. m. DEC.
Each bid must be accom¬
bids for bonds.
panied by certified check for $1,000 00. The
right Is reserved to reject any and all bids.
For
further Information apply to E. M. Willingham,
Mayor, 540-542 Whitehall St., Atlanta, Ga.
are
Reynolds, Watson & Co.
Sealed proposals will be received by the City
$25,000 00, bearing Interest at six (6) per cent
annum, Interest payable semi-annually on Council of the City of East Orange, N. J., at a
first of January and first of July In each
meeting to be held at the City Hall, MONDAY,
DECEMBER 12 1910, at eight o’clock p. m.,
year, will be offered for sale at public auction
to the bidder offering the highest price therefor,
for the purchase of all or any part of an Issue
at the Council Chamber of the Town Council of
of $220,000 Coupon School Bonds (with privi¬
the town of Conrad, in the town of Conrad,
lege of registration) of the City of East Orange,
County of Teton and State of Montana, on the Series “V,” said bonds to be dated July 1 1910
28TH DAY OF DECEMBER, A. D. 1910, at the and to mature July 1 1950, with interest at 4 H
hour of 2 o’clock p. m. of that day.
.
per
cent per annum, payable semi-annually.
The Council reserves the right to reject all or
Bonds to be of the denomination of $1,000 each.
Both principal and interest payable in lawful
any bids or offers of purchase.
The principal of said bonds to be payable In
money at the office of City Treasurer In the City
twenty years from the date thereof, and $3,000 00 of East Orange.
The bonds are secured by a
thereof redeemable In five years, $5,000 00 re¬ sinking fund.
deemable In ten years and $5,000 00 redeemable
Each proposal must be enclosed in a sealed
In fifteen years from the date thereof at the
envelope addressed to the Mayor and City Council
option of the Town Council.
All tenders, bids of The City of East Orange, and must be accom¬
or offers to purchase to be addressed to F. H.
panied by a certified check payable to the Re¬
Pings, Mayor, and a certified check for not less ceiver of Taxes of the City of East Orange, for
than $300 00 to accompany each bid to Insure 2 per cent of the face value of bonds bid for.
No bid for less than par will be considered.
good faith on behalf of the bidder.
Dated at Conrad, Montana, this 19th day of Amount of bids must be stated in both words
and figures.
November, 1910.
The purchaser must pay accrued
interest.
By order of the Town Council.
*
The bonds will be certified as to legality by
Caldwell & Reed of New York City, whose opinion
as to legality, or duplicate thereof, will be de¬
livered to the purchaser.
The right is reserved to reject any or all bids.
For further information apply to the under¬
BONDS
signed.
LINCOLN E. ROWLEY,
City Clerk.
90 STATE STREET, BOSTON
per
the
BLODGET & CO.
90 PINE STREET, NEW
YORK
STATE, CITY A RAILROAD BONDS
Municipal and Corporatian Bonds
We offer
a
very
FORREST At CO.
exceptional
DRAINAGE
BARKERS
BOND
411 ClMStnmt
NETTING
400 The
MUNICIPAL BONDS
known.
AQL tn
Yielding from
ULEN
BANKERS
First Rat Bank Bids., Chieaga
SCHOOL,
COUNTY AND MUNICIPAL BONDS
THE AMERICAN
MF6. CO.
CHICAGO
Rookery
Batast inTMtments
H. C SPEER & SONS CO.
St., PHILADELPHIA, PA.
Municipal and
Corporation Bonds
6%
B9TABU3HBD IMi
&
U/U
Writs for
Circular.
CO.
CHICAGO
Charles M. Smith & Co
MANILA, SISAL AND JUTE
CORPORATION AND
MUNICIPAL BONDS
CORDAGE
FIRST NATIONAL
BANK BUILDING 65 Wall Street
CHICAGO
-
New York
1532
THE CHRONICLE
Mitchell & Go. of Toronto (V.
91, p. 1403), was $15,377, or
100.916.
Debentures Authorized.—The City
Council, it is stated,
has authorized the issuance of
$9,800 water-works debentures.
Hamilton, Ont.—Debenture
Election
Proposed.—Reports
state that the Works Committee has recommended the
City
Council to submit to the
ratepayers in January the question
of issuing $125,000
[VOL.
LXXXAJ
Penticton, B. 0.—Debenture Offering.—Proposals will
be
received until Dec. 15
by F. E. Tily, Secretary-Treasurer,
for $20,000 5%
street-improvement and drainage debentures.
Date Dec. 1 1910.
Interest semi-annual.
Maturity Dec. 1
1940.
Sandwich, Ont.—Debenture Offering.—Proposals will be
according to reports, for $28,707 83
43^% 20-year debentures.
street-paving debentures.
High River, Alberta.—Debenture Sale.—On Nov. 15 the
Stratford, Ont.—Debenture Election.—An election will be
$2,900 5% and $1,062 6% local-improvement debentures held, it is stated, to vote on
propositions to issue $10,000
described in V. 91, p. 1203, were awarded to C. H.
Burgess park-improvement, $15,000 market-building and $41,610
& Co. of Toronto for $3,790 (95.65) and accrued interest.
electric-light debentures.
The following bids were also received:
Toronto, Ont.—Debenture Election.—According to the
Geo. A. Stlmson & Co., Tor__$3,7301 National Finance
Co., Tor—$3,657
Wood, Gundy & Co., Toronto 3,711 (Brent, Noxon & Co., Toronto- 3,596
All
bidders offered accrued Interest In addtlon to their bids.
The 5%
bonds are payable In 20 Installments and the 6% bonds In 8
Installments.
Kamloops, B. 0.—Debenture Sale.—Brent, Noxon & Co.
it is stated, $35,223 51 5%
park and local-improvement de¬
of Toronto have been
awarded,
10 and 25-year fire alarm
bentures.
Marianne School District No. 2161 (P. O. Evarts), Alberta
—Debenture Sale.—An issue of $800 6^%
10-year school¬
building and equipment debentures was sold on Oct. 27 to
C. H. Burgess & Co. of Toronto at 100.25.
Date Oct. 27
1910.
Interest annual.
New Westminster, B. G.—Debenture Sale.—G. A. Stim& Co. of
son
Toronto, it is reported, have been
and $123,000 5% debentures.
awarded
$250,000
Nokomis, Sask.—Debenture Offering.—Proposals will be
received until 12 m. Dec. 5 by W. A.
Armour, SecretaryTreasurer, for $4,200 6% debentures, repayable in 20 annual
installments of principal and interest.
North Battleiord Public School District No.
1438, Sask.—
Debenture
Dec.
31
Offering.—Proposals will be
received until 12
m.
by Frederick Edwards, Secretary-Treasurer, for
$2,500 6% debentures, repayable in 10 annual installments
of principal and interest.
Oak Bay, B. C.—Debenture Election
Proposed.—It is stated
that
an
election will be held to vote
on a
$60,000 water-works debentures.
proposition to issue
received until Dec. 5,
Toronto “Globe” of Dec. 1,
vote
an
election will be held Jan. 2
101.50.
t
Vancouver, B. 0.—Debenture Election.—According to
orts an election will be
held to vote
on a
200,000 water-works debentures.
Vegreville, Alberta.—Debenture Sale.—Nay <fe James of
Regina have been awarded an issue of $9,000 6% 10-year
debentures, according to reports.
Winnipeg, Man.—Debenture Election.—In addition to the
propositions to issue the $1,635,000 debentures, to be voted
upon Dec. 13 (V. 91, p. 1403), the question of
issuing $190,000 Osborne Bridge reconstruction
debentures will also be
submitted to a vote on the same
day. As already reported
by us, the purposes for which the $1,635,000 debentures are
proposed are as follows: $400,000 for a general
$400,000 for a municipal hospital, $600,000 for new hospital,
$60,000 for two suburban fire stations, $25,000 for schools,
salvage
corps and $150,000 for new parks.
NEW LOANS.
NEW LOANS
$760,000
KANSAS CITY, MISSOURI.
$25,000
TOWN OF KEARNY, HUDSON CO., N.!.,
$405,000
Sealed proposals wl
be received by the under¬
signed, the Mayor and the City Comptroller of
Kansas City, Missouri, until DECEMBER 15 1910
at 10 o’clock A.M., for the purchase of all or
any
part of the following-named bonds of the City of
Kansas
City, Missouri, in
the
amounts:
following-named
CLASS * A”
Water Works Bonds, Second
Issue.-$500,000
CLASS “B”
Fire Protection Bonds, Second Issue._
$50,000
Incinerating Plant Bonds
100,000
Kansas City Bridge Bonds
100,000
00
00
00
00
$250,000 00
Class “A” bonds bear Interest at the rate of
four per cent per annum.
Class “B” bonds bear
interest at the rate of four and one-half per cent
per annum.
All of these bonds are of the de¬
nomination of $1,000 00 each, dated September 1st
1910, to mature September 1st 1930.
Interest
payable at the office of the City Treasurer of
Kansas City, Missouri, or at the Chase National
Bank In the City and State of New
York, at the
option of the holder.
No bid will be received which Is In whole or In
part less than par.
The legality of the bonds will be
approved by
Messrs. Dillon, Thomson & Clay of New
York,
whose opinion as to the legality, or
duplicate
thereof, will be delivered to the purchaser or
purchasers of said bonds.
** Each bid must be made on a blank form
fur¬
nished by the City, and must be
accompanied by
a duly certified check on a National
Bank doing
business in Kansas City, Missouri, payable to the
order of the City Comptroller of Kansas
City.
Missouri, for 2 per cent of the par value of the
bonds bid for.
The right Is reserved to reject
any and all bids.
Play-Ground Bonds
Sealed proposals will be received by the Coun¬
of the Town of
Kearny, Hudson
N. J., at the Town Hall, DECEMBERCounty,
14TH,
1910, AT 8 P. M., for the purchase of
$25,000 00 4M% 20-Year Play Ground Bonds.
Each bid must be
accompanied by a certified
check for $1,000 00.
The Council reserves the
right to reject any or all bids.
For further Information,
address
BURTON E. CANFIELD, Town Treasurer.
McCOY & COMPANY
Municipal and
Corporation Bords
MUNICIPAL AND RAILROAD
La Sail*
Straat, Chloaga
Public Wharf and Dock Bonds
tr
1910.
LAWYER
Specializing
Notice Is hereby given that on
THURSDAY,
THE 8TH DAY OF
DECEMBER. 1910, at the
hour of 2 o'clock p. m. at the office of the
Mayor
of the City of Tacoma,
Washington, In the City
Hall, sealed bids will be received for an Issue of
City of Tacoma bonds In the sum of Four Hundred
and Five Thousand Dollars; said bonds will be
general bonds of the said City of the par
value of
$1,000 each, payable In twenty years from the
date of Issue, with Interest at not
exceeding 5%
per annum, payable semi-annually at the fiscal
agency of the State of Washington In New York
City, and are known as “City of Tacoma Public
Wharf and Dock Bonds." Issued
pursuant to
Ordinance No. 4295, passed September
21st, 1910,
published September 23d, 1910.
Bids for said bonds will be received, based on
the Interest rate proposed by the
bidder, which
cannot exceed 5%.
The right Is reserved by the
City to award the
bonds or any part thereof to the highest and best
bidder, or to reject all bids; and the right Is also
reserved to require a bond from a successful
bidder for the performance of his contract to take
and pay for the bonds awarded.
For all Information apply to John F.
Meads.
City Controller.
Dated Tacoma, Washington,
F. WM. KRAFT
A. V.
in Examination of
ISIS FIRST NATIONAL BANK BLOG
November 8th.
SINKING FUND BOARD.
,
CHICAGO, ILL.
FAWCETT.
J. F. MEADS,
Municipal and Corporation Bone s
the bonds
SDelivery
of 1911,
willo’clock
be made
Tuesday,
nuary 3rd
at 10
A. on
at the
M.,
office of
the City Comptroller of Kansas
City, In
Kansas City, Missouri.
Bids will be received at
the office of the Mayor of Kansas
City, Missouri;
In the City Hall In said City;
but no bid will be
entitled Ho consideration unless received
by or
before the hour above set for receiving bids,
r Printed circulars containing more definite and
detailed Information with reference to said bonds,
and blank forms for bids, can be had on
applica¬
tion to the City Comptroller of Kansas
City,
Missouri, or to Messrs. Dillon, Thomson & Clay
of New^York.
DARIUS A. BROWN,
jki
”
Mayor of Kansas City, Missouri.
GUS PEARSON.
/
Comptroller of Kansas City, Missouri.
City of Tacoma, Washington,
cil
181
Commissioner of Finance.
November 8. 9, 10. 11. 12. 13. 14. 15. 18. 17.
1910.
Company of America
37-43 WALL
STREET, NEW YORK.
COLONIAL BRANCHi
112
LONDON OFPICEi
Broadway, New York.
95 Gresham St.
CAPITAL AND SURPLUS *8,000,000
BONDS
LIST ON APPLICATION
SEAS0NG00D & MAYER
Mercanttt* Library Building
ODfOQniATI
i
Mayor.
City Controller.
RAY FREELAND.
The
Trust
re-
proposition to issue
NEW LOANS.
BONDS
to
by-laws providing for the following loans: $1,128,360
for street
railway extensions, $100,000 for good
$803,700 for a storm overflow-sewer system, “about roads,
$1,000,000” for Bloor and '’Parliament streets
viaduct, $200,000 to
improve Ashbridge’s Bay and $50,000 as a grant to the
Western Hospital.
Trail, B. C.—Debenture Sale.—On Nov. 21 the $15,000
6%
20-year water-works debentures mentioned in V.
91, p. 1283,
were awarded to
Campbell, Thompson & Co. of Toronto
at
on
Invites accounts of individuals firms and
Pays interest
on daily
Executes trusts of every
corporations.
balances.
description.
THE CHRONICLE
Deo. 3 1910,
financial.
gitumcial.
Adrian H. Muller & Son,
AUCTIONEERS.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
.v
Regular Weekly Sales
OP
STOCKS and BONDS
EVERY
XYH
*
•=?•
;** ft.
-
New York. January 21st, 1010*
The Trustees, in conformity with the Charter of the Company, submit the following
on the Slsf of December, 1909.
Premiums on Marine Risks from 1st January. 1909, to 31st December, 1909
Premiums on Policies not marked off 1st January, 1909
:
Total Marine Premiums..
Interest received during the year
Rent less Taxes and Expenses
Office. No. M WILLIAM STREET
Corner Pine Street.
Losses paid during the year which were
and
previous
estimated In 1908
years
Losses occurred, estimated and paid In 1909
Less Salvages
Re-Insurances
NATIONAL LIGHT,
$322,046 46
145,679 82
-
33.759,391 35
717,712 70
.---.-..-$4,477,103 90
.....
Premiums marked oil from 1st January, 1909, to 31st December, 1909
WEDNESDAY
statement of its affairs
43,791.557 00
...
$467,726 28
$829,378 19
1,149,459 56 $1,978,837 75
$249,891 07
235,520 48
.........
485,411 55
$1,493,426 20
HEAT & POWER COMPANY
GUBONDSD
«
A. H. Bickmore & Co.,
BANKERS
ASSETS.
United States & State of New York
Stock, City, Bank and other Se¬
curities
$5,461,042 00
Special deposits In Banks ATrustCos. 1,000,000 00
Real Estate cor. Wall & WUUamSts.,
&
New York
30 Pin* Street,
Returns of Premiums
Expenses, including officers' salaries and clerks' compensation, stationery,
newspapers, advertisements, etc..
Established 1864
Telephone 2817 neeta*
INSURANCE STOCKS
Fidelity, Phoenix, Home,
Niagara, Continental, Ao.
BOUGHT AND SOLD
Other Real Estate &
claims due the com¬
75,000 00
4,374,426 04
Premium notes and Bills Receivable
Gash In the hands of European
Bankers to pay losses under poli¬
cies payable in foreign countries.
Cash In Bank
1.213,069 68
E. S. BAILEY
NEW TORI
88 BROADWAY
C. B. Van
Nostrand
Aggregating
INDUSTRIALS
WE WISH TO BUY
LIABILITIES.
Estimated Losses and Losses Un¬
settled
$2,393,297 00
685,546 90
Premiums on Unterminated Risks.
Certificates of Profits and Interest
263,468 95
120,569 42
Unpaid
deemed, Withheld for Unpaid
Premiums
Certificates of Profits Outstand¬
22,353 49
7,404,890 60
370.000 00
ing
Real Estate Reserve Fund....
239,948 04
633,405 13
$12,921,890 89
Aggregating
...
$11,260,125 70
A dividend of Interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the first of February next.
The outstanding certificates of the Issue of 1904 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the first of February next, from which date all
interest thereon will cease.
The certificates to be produced at the time of payment and canoeled.
A dividend of Forty per cent Is declared on the net earned premiums of the Company for the year
ending 31st December, 1909, which are entitled to participate in dividend, for which, upon appli¬
cation, certificates will be Issued on and after Tuesday the third of May next.
By order of the Board.
Q. STANTON FLOYD-JONES. Secretary.
FRANCIS M. BACON.
WALDRON P. BROWN.
VERNON H. BROWN,
JOHN N. BEACH.
JOHN CLAFLIN.
GEORGE C. CLARK,
CLEVELAND H. DODGE.
CORNELIUS ELDERT.
RICHARD H. EWART.
PHILIP A. S. FRANKLIN;
HERBERT L. GRIGGS.
If WALL 8TMMMT
$356,913 94
Return Premiums Unpaid
Certificates of Profits Ordered Re¬
Exchange Place.$4,299,426 04
pany
$60,285 14
TRUSTEES.
CLEMENT A. GRISCOM,
ANSON W. HARD.
LEWIS CASS LED YARD,
CHARLES D. LEVERICH.
LEANDER N. LOVELL.
GEORGE H. MACY.
CHARLES H. MARSHALL.
NICHOLAS F. PALMER.
HENRY PARISH.
ADOLF PAVENSTEDT,
CHARLES M. PRATT,
DALLAS B. PRATT.
GEORGE W. QUINTARD.
A. A. RAVEN.
JOHN J. RIKER,
DOUGLAS ROBINSON,
GUSTAV H. SCHWAB.
WILLIAM SLOANE.
ISAAC STERN.
WILLIAM A. STREET.
GEORGE E. TURNURE.
A. A. RAVEN. President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB. 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART. 4th Vice-President.
Birmingham Railway Light &
Power 4H>s
Birmingham Railway Light &
Power 6s
W. E. HUTTON &CO.
Nederlandsch Administrate- & Trustkantoor
(NETHERLANDS ADMINISTRATION A TRUST COMPANY )
215 Slngel - AMSTERDAM. (Holland.)
Member* New York Stock Exchange
Established 1888
25 Broad Street.
-
H. MEINfeSZ, President
New York
Board of Diractorn
Private wires to Cincinnati. Chicago. Sen
Francisco end Los An teles.
ROBENPYL, WALBRBGE & Cl.
7 Wall St., N.w York
Chairman,
H. WALTER. L. D..
de Kock 8b Uyt den Bogaard.
Ph. MEES.
A. A. H. BOISSEVAIN.
R. Mees 8b Zoonen.
Director of Swiss Bankvereln and
of Laboncbere. Oyena A Co'a Bank.
H. MEINESZ.
J. A. DUYNSTEE,
President.
Telders A Co.
0. H. DE MAREZ OYENS.
F. Th. EVERARD.
Laboncbere. Oyens 8b Co’s Bank.
Banker.
Bailroad, Street By., Oaa B Bn. Lifht
A. L. G. H. PICHOT*
Westerwoudt 8b Co.
W. M. SCHEURLEER.
Scheurleer 8b Zoonen
P. M. J. GILISSEN
Arnold Glllssen.
AUG. KALFF.
Jan Kalff 8b Co.
SECURITIES
Acts
Acts
195#
as
as
Executor, Administrator, Trustee,
Trustee of Corporation Mortgages.
Guardian, Agent, sif.
1910
The United States Life
Insurance Co.
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
JOHN P. MUNN, M. D., President.
Finance Committee
CLARENCE H. KELSEY, Pres. TitleGu.ATr.O
WM
SIJ? R • J?”* • Chemical National Bu
■D. TOWNSEND, Pres. Imp. & Traders Nat. B1
or
Good men. whether experienced In life lnsuran
not, may make direct contracts with this Coi
pany, for a limited territory If desired, and sees
tor themselves. In addition to first year’s oomml
aloa, a renewal interest Insuring an income for tl
future.
Address the Company at Its Borne Off!
Ne. 277 Broadway. New York City
Mtttots grnretp Company
Home
Office, 206 La Salle Street
CHICAGO
WRITES ALL CLASSES SURETY BONDS
Court— Fidelity—Contract—Miscellaneous
The motto of the Illinois Surety Company is “Prompt
both in the
Service9*
handling of its business and the adjustment of Us losses
XVIII
THE CHRONICLE
[VOL.
LXXXXI.
Qxnst ©jormpantjes.
united states itest cups of ttev
Chartered 1*53
loit,
Manhattan
46 and 47 WALL STREET
CAPITAL,
$2,000,000.00
$13,733,303.21
SURPLUS AND UNDIVIDED PROFITS
Trust
This Company acta as Executor. Administrator. Guardian. Trustee. Court
Depositary and in
ether recognized trust capacities.
It allows Interest at current rates on deposits.
It holds, manages and Invests money, securities and other property, real or
personal, tor estates
ssoperations and Individuals.
Company
EDWARD W. SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
WILFRED J. WORCESTER, Asst. Sec.
HENRY E. AHERN, Secretory.
CHARLES A. EDWARDS, 2d Asst.Sec.
TRUSTEES.
JOHN A. STEWART, Chairman ot the noara.
Gustav H. Schwab.
Lewis Cass Led yard,
Frank Lyman,
Lyman J. Gage.
James Stillman
Payne Whitney,
John Claflln,
Edward W. Sheldon.
J.
John
Phelps.
Ghaunoey Keep
IF. Bayard Cutting,
William Rockefeller,
Alexander B. Orr
William H. tfaey Jr..
William D. Soane,
George L. Rives,
Arthur O. James,
William M. Kingsley.
William Stewart Tod.
Ogden Mills
Egerton L. Wlnthrop
Temporary Offices
113 BROADWAY
WALL STREET
Fidelity Trust Company
CORNER NASSAU
NEWARK, N. J.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts
Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates.
Guarantees Titles of
Real Estate throughout New Jersey.
as
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
General Banking and Savings Departments.
Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
CAPITAL,
SURPLUS,
$4,000,000.00
$2,000,000.00
CENTRAL TRUST COMPANY
of NEW YORK
54
Wall Street
Invites Personal and Business
Accounts. Acts as Trustee, Ex¬
ecutor
Administrator, Guard¬
in
all
Fiduciary
Capacities.
Certifies Muni¬
cipal and Corporation Bonds.
ian
and
Capital and Surplus, $18,000,000
55 Cedar St.
(of which $ I 7,000,000 has been earned)
Authorized
to act
Executor, Trustee, Administrator
B'way A 73rd St.
Guardian.
Receives Deposits, subject to check, and allows Interest on
Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under
Mortgages.
as
125th St. it 8th Ava.
or
Industrial Trust Company
Providence* R. I.
CAPITAL
SURPLUS
$3,000,000
8.000.000
-
OFFICERS.
Cyrus P. Brown. President
Arthur L. Kelley, Vice-President
CHARTERED 1864
Union Trust Company of NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office:
425 Fifth Avenue, corner 38th
Street,
With Modern Safe Deposit Vaults
Capital $1,000,COO
Surplus (earned) $7,737,0) >
ALLOWS INTEREST ON DEPOSITS.
Acts
ns
Executor, Guardian, Trustee, Administrator and in all
Fiduciary Capacities
on behalf of
Individuals, Institutions or Corporations.
(
H. Martin Brown, Vice-President
Otis Everett, Vice-President
Joshua M. Addeman, Vice-President
Ward E. Smith, Treasurer
Chas. H. Manchester, Secretary
H. Howard Peoper, Asst.Treat
Frederick B. Wilcox, Audltac
BOARD OF DIRECTORS.
Samuel P. Colt
Herbert N. Fenner
Olney T. Inman
J. Milton Payne
William R. Dupee
Eben N. Littlefield
Richard A. Robertson
Otis Everett
Joshua M. Addeman
C. Prescott Knight
James M. Scott
Jesse H. Metcalf
William H. Perry
John J. Watson Jr.
Arthur L. Kelley
Charles H. Allen
H. Martin Brown
John B. Branch
William P. Chapin
George F. Baker
George M. Thornton
Angus McLeod
Cyrus P. Brown
Ezra Dixon
Chas. C. Harrington
Howard O. Sturgis
Louis H. Comstock
Edward D. Pearoe
Englehart C. Ostby
BEAD? ABOUT JANUARY 15
DlmoisTrust&SavmgsBaiik
Hand-Book of Securities
CHICAGO
Capital and Surplus
$13,600,000
January 1911 Edition.
DESCRIPTION
INCOME
Price of
Single Copies
PRICES
DIVIDENDS
.
.
.
To Subscribers of the Chronicle
Pays Interest
on Time Deposits, Current and
Reserve Accounts.
Deals in Investment Securities and
Transacts
Foreign Exchange.
a
General
Trust
Business.
The Hand-Book Is Issued to Bankers and
Brokers with their oards lettered in gilt on the
outside cover (In quantity) at special rates.
Commercial
CORRESPONDENCE INVITED
& Financial
Chronicle
Front. Plaa and Depeyster Sts.
THE CHRONICLE
Dec. 3 1910. j
XIX
©orapatxies.
OLD COLONY TRUST COMPANY
The NEW ENGLAND
TRUST COMPANY
BOSTON. HASS.
BOSTON, MASS.
CAPITAL, *1.000.000
SURPLUS.
Safe Deposit Vaults
DIRECTORS.
T. JEFFERSON COOLIDGE JR., Chairman Exeoutlve Committee.
Authorized to act as Executor, and to receive
and hold money or property In trust or on deposit
Crum
Courts
of Law or
Equity
Executors,
Administrators, Assignees Guardlana Trustees,
Oarporations and Individuals.
Also acts as Trustee under Mortgages and as
Transfer Agent and Registrar of Stocks and Bonds.
Interest allowed on Deposits Subject to Check
OFPICERS
DAVID R. WHITNEY, President
CHARLES F. CHOATE. Vice-President
ALEXANDER COCHRANE, Vice-President
i
FRANCIS R. HART,
Charles F. Adams 2nd
F. Lothrop Ames
Oliver Ames
C. W. Amory
William Amory
Charles F. Ayer
John S. Bartlett
Samuel Carr
B. P. Cheney
Philip Y. DeNormandie
Philip Dexter
George A. Draper
Hon.T.JeffersonCoolldge
Edwin Farnham Greene
Robert F. Herrick
DIRECTORS.
J. Levering Jones,
Malcolm Lloyd.
John Mcllbenay.
Richard Wain Meirs.
Clement B Newbold
John W. Pepper.
William F. Read.
Adam A. Stull.
Edward D. Toland.
CHARTERED 1836.
Breckinridge Jones, President.
Wm. G. Lackey, Vice-Presideut and Bond OfficeW. J. McBride, V.-Pres. Haskell & Barker Car Oc
Nelson W. McLeod, Vice-President Gray*o:
MANAGERS:
Edward J. Berwlnd,
Effingham B. Morris.
Henry Tatnall,
Edgar C. Felton,
C
McLeod Lumber Co.
Saunders
Robert J. O'Reilly, M. D.
Win. D. Orthwein, President Wm. D. Orthwf-j.
Grain Co.
William T. Elliott,
W. Hlnckle Smith,
B. Dawson Coleman
Henry W. Peters, President Peters Shoe Co.
H.C. Pierce, Chairman Board Waters-PleroeOll
August Schlafly, August Schlatiy & Sons.
R. H. Stockton, President Majestic Mfg Co.
Julius S. Walsh, Chairman of the Board
Rolla Wells.
Speyer,
Broad and Chestnut Streets.
PHILADELPHIA
ffiolixm.
L. F. DOMMERICH & CO.
52.000.000
52,000.000
DIRECTORS.
NEW YORK
Howard O. Sturgea,
Robert H I. Goddard, Stephen O. Metcalf,
Robert I. Gammell,
Waiter R. Callender,
Royal C. Taft,
General Offices, 57 Greene
Edward Holbrook,
James E. Sullivan,
Benjamin M. Jackson
John R. Freeman,
Charles S. Mellen.
Robert W. Taft,
Webster Knight.
Stephen O. Edwards.
SOLICIT MERCANTILE ACCOUNTS TO
..._
„ ■ ■. n a
urrr
caicc
DISCOUNT AND GUARANTEE SALES
Frank W. Matteson.
R. H. Ives Goddard Jr.
HERBERT J. WELLS, President.
EDWARD S. CLARK, Vice-President.
HORATIO A. HUNT, Vice-President.
WILLIAM A. GAMWELL, Secretary.
PRESTON H. GARDNER, Trust Offioe*
CYRUS E. LAPHAM, Asst. Seo’y.
JOHN E. WILLIAMS, Asst. Seo’y.
HENRY L. SLADER, Asst. Seo’y.
G. A. HARRINGTON. Asst.Tr.Offtr
CARRY NO
WILLIAM RAY & CO.
COPELAND & CO..
Cotton Exchange
New York.
CENTRAL
for
delivery contracts executed on
TRUST COMPANY the New York and Liverpool Cotton Exchanges.
R. H. ROUNTREE & CO.,
OF ILLINOIS
tt
Orders
-
$2,500,000
CHARLES G. DAWES, President.
A. UHRLAUB, Vice-President.
EDWIN F. MACK, Vice-President.
WILLIAM T. ABBOTT, Vice-President.
WILLIAM R. DAWES. Cashier.
L. D. SKINNER, Asst. Cashier.
WILLIAM W. GATES, Asst. Cashier.
JOHN W. THOMAS, Asst. Cashier.
ALBERT G. MANG, Secretary.
MALCOLM MoDOWELL. Asst. Secretary.
WILLIAM G. EDENS, Asst. Secretary.
JOHN L. LEHNHARD, Asst. Trust Offloer.
BANKING,
SAVINGS
AND TRUST
DEPARTMENTS
ruture
Commission Merchants.
CHICAGO
COTTON, GRAIN, PROVISIONS and COFFEE
COTTON EXCHANGE BUILDING.
NEW YORK.
GWATHMEY & CO.
l"0R MANUFACTURERS.
Exchange Place,
-
-
NEW YORK
ROBERT MOORE & CO.
56 Beaver Street.
AND
OTHERS
Geo. H. M?Fadden &
New York.
ORDERS FOR FUTURE DELIVERY EXE¬
CUTED IN NEW YORK AND LIVERPOOL
BXCHANGES.
OOTTON PURCHASED FOR SPINNERS’ USB
Bro.,
COTTON MERCHANTS
PHILADELPHIA.
NEW YORK.
Liverpool Correspondents*
FREDERIC ZEREGA A CO.
Bremen
Correspondents:
MCFADDEN BROTHERS & CO
Havre Correspondents:
SOCIETE D’IMPORTATION ET DE COMMIS’N
Siegfr. Gruner & Co.
COTTON MERCHANTS
17 South William Street,
NEW YORK.
COTTON MERCHANTS
22
FINANCE
AGENTS
Successors to
GEO
Street
GOODS FOR OWN ACCOUNT
COTTON BROKERS.
Capital and Surplus
Norvell-Shaple'*-
President
Nor veil.
Hardware Co.
Henry B. Coxe,
Hartman Kuhn,
Tames
PROVIDENCE, R. I.
Rowland G. Hazard,
Nelson W. Aldrich,
Samuel R. Dorrance,
DIRECTORS.
President.
ELY, 1st Vice-President.
A. A. JACKSON, 2d Vice-President.
C. J. RHOADS, 3d Vlce-Pres. and Treasurer.
E. S. PAGE, Secretary.
Randal Morgan.
Edw. T. Stotesbury.
Charles E. IngersolL
John S. Jenks Jr..
PROFJrs]^°»ow»uuu
John 1. Beggs. President Milwaukee Light Heat +
Traction Co.
Wilbur F. Boyle. Boyle & Priest..
James E. Brock. Secretary.
Murray Carleton. President Carleton Dry Goods v*
Charles Clark.
Horatio N Davis, President SmithADavls Mfg.C*
John D Davis. Vice-President.
David R. Francis. Francis, Bro. & Co.
S. E. Hoffman, Vice-President.
E. B. MORRIS,
Rhode Island Hospital
Trust Company
Lyman B. Goff,
and
John A. Brown Jr.,
John B. Garrett.
William H. Gaw,
Francis I. Gowen,
Geo. H. McFadden.
Louis.
gAn finn
A GENERAL FINANCIAL AND FIDUCIARY
BUSINESS TRANSACTED.
W. N.
Isaac H. Clothier,
Thos. DeWltt Cuyler,
HOLMES
CAPITAL,, SURPLUS
as
William D. Wtnsor.
Howard 8. Graham,
Samuel F. Houston.
William B. Weeden,
Edward D. Pearce,
Robert Knight,
John W. Danielson.
Herbert J. Wells,
Stephen M. Weld
Sidney W. Winslow
Fourth & Pine Sts., St.
Executor, Administrator. Trustee.
Assignee and Receiver.
Financial Agent for Individuals or
Corporations.
Interest Allowed on Individual and
Corporation Accounts.
Acts as Trustee of Corporation Mortgages
Depositary under Plans of Reorganization
Registrar and Transfer Agent.
Assumes entire charge of Real Estate,
Safes to Rent in Burglar^Proof Vaults.
Joseph R. Walnwrlght.
URPLUS
CAPITAL
Philip Stockton
Charles A. Stone
Galen L. Stone
Nathaniel Thayer
Lucius Tuttle
H. O. Underwood
Eliot Wadsworth
Mississippi Valley Trust Co.
Capital and Surplus, $10,000,000
Acts
HENRY G. BRENGLE, President.
JOS. S. CLARK. Vice-President.
OHAS. P. LINEAWEAVER. Sec. & Treas.
ADAM A. STULL, Chairman of Board.
Eugene L. Ellison
Joseph C. Fraley.
Harry C. Francis,
Henry L. Gaw Jr.,
Howard Stookton
Companies in Maine, Massachusetts and Rhode Island.
Girard Trust Company.
$1,000,001
Edwin S. Dixon
Henry Parkman
Andrew W. Preston
Henry S. Howe
Richard S. Russell
Walter Hunnewell
Charles W. Whittier
Trust Officer. F. M
503*505-507 Chestnut St.. Philadelphia
,
Reginald Foster
George P. Gardner
Authorized Reserve Agent for Trust
The Trust Company
of North America
Eckley B. Coxe Jr
Laurence Minot
Maxwell Norman
Hon. Richard Olney
Robert T. Paine 2nd
Herbert M. Seai«
Quincy A. Shaw
PRESIDENT. PHILIP STOCKTON.
Treasurer, FREDERIC G. POUSLAND
Vice-Presidents. WALLACE B. DONHAM
JULIUS R. WAKEFIELD
Cashier. GEO. W. GRANT
Secretary, CHESTER B. HUMPHREY
Manager Credit Dept., ELMER E. FOYE.
George Wiggles worth
Henry G. Brengle,
James Crosby Brown.
John Cadwalader.
E. W. Clark Jr
Philip L. Saltonatai
Henry C. Jackson
George E. Keith
Gardiner M. Lane
Col. Thos. L. Livermore
Arthur Lyman
Charles S. Mellen
Frederic C. Dumalne
William Endlcott Jr.
Wilmot R. Evans
Frederick P. Fish
T. Jefferson Coolidge Jr
Charles E. Cottlng
Alvah Crocker
BOARD OF DIRECTORS
William Endlcott, Chairman
James G. Freeman
Walter C. Bay lies
Morris Gray
Alfred Bowdltch
James R. Hooper
9. Parker Bremer
Ernest Lovering
Timothy E. Byrnes
Henry H. Proctor
Jharles F. Choate
James M. Prendergast
Alexander Cochrane
Herbert M. Sears
Philip Dexter
Lawrence M. Stockton
William Endlcott Jr.
Nathaniel
Thayer
Francis W. Fabyan
Eugene V. R. Thayer
William Farnsworth
David R. Whitney
Frederick P. Fish
w
ABBOTT, Chairman of Board.
Vice-Chairman.
GORDON
NATHANIEL THAYER, Vice-President
JAMES R. HOOPER, Actuary
HENRY N. MARR, Secretary
FRED. W. ALLEN, Asst. Sec. & Treas
THOMAS E. EATON, Asst. Treas.
FRANCIS R. JEWETT, Trust Officer
CHAS. E. NOTT, Mgr. Safe Dep. Vlts
CAPITAL
$12,500,000
Capital and Surplus
*2.000.000
Mason Smith & Co.,
COTTON COMMISSION
MERCHANTS
LA.
HEiUPHIS, TENN.
KALLAS* TEX.
Buyers of Spot Cotton.
Orders for Contract* Exe¬
cuted In New Orleans, New York;
IwomaaI nnH TfnirfVi HlarlrPtlV.
NEW ORLEANS,
T
ft
XX
"J
"
THE CHRONICLE
Kxrttort.
[VOL.
financial.
IjXXXXI.
financial.
WOODWARD
E. H.ROLLINS & SONS
& STILLMAN
Established 1876
COTTON MERCHANTS
16 to 22 WILLIAM STREET,
BANKERS.
NEW YORK
RAILROAD
MUNICIPAL
Negotiate and Issue Loans for Rail¬
AMERICAN COTTON OF ALL GRADES SUIT¬
ABLE TO WANTS OF SPINNERS.
roads and Established
Buy
and
sell
Corporations.
Bonds
suitable
for
Investment.
PUBLIC UTILITY
BONDS
Established la 1850.
Henry Hentz & Co.
206 LA SALLE ST, CHICAGO
COMMISSION MERCHANTS
16 to 22 William Street, New Tork.
Execute Orders for Future Delivery
COITON
At the New York, Liverpool and New Orleans
Cotton Exchangee. Also orders tor
COFFEE
At the New York Coffee Exchance
GRAIN AND PROVISIONS
°
at the Chicago Board of Trade and
GRAIN AND COTTON-SEED OIL
At the New York Produce Exchance
Hubbard Bros. & Co,
Fiscal Agent for Cities and Corporations
List
CHICAGO CITY MORTGAGES.
HIGH-GRADE INDUSTRIAL BONDS.
CHICAGO REAL ESTATE BONDS.
CORPORATION 5 RAILROAD BONDS.
COFFEE EXCHANGE BUILDING
on
Application
BOSTON
NEW YORK
CHICAGO
DENVER
SAN FRANCISCO
SEND FOR CIRCULARS.
HANOVER SQUARE.
PEABODY, HOUGHTELING & GO.
NEW YORK
COTTON MERCHANTS
Liberal Advances Made
on
181 La Salle Street,
Cotton
Consicnraents.
F. H. PRINCE & CO.
CHICAGO.
[Established 1865 J
BANKERS
Hopkins, Dwight & Co.
COITON
BOSTON, Mass.
GEO. H. BURR & CO.
and
COTTON-SEED OIL.
Room 53 Cotton Exckance Buildinc.
NEW YORK.
LEHMAN. STERN
&
CO.. Limited. New Orleans.
LEHMAN BROS.
Nos. 15-33 William Street. New York.
Members oj the Steele, Cotton, Cojjee
Produce Exchanges, Nets York.
HIGH-GRADE INVESTMENTS
BANKERS
COMMISSION MERCHANTS
Commercial Paper
43
Exchange Place
Chicago
-
Boston
Philadelphia
New York
Members of New York and Bo*ton Stock Exchange*
St Louis
Kansas City
San Francisco
anti
Orders executed on the above Exchances, as well In
New Orleans. Chlcage and foreign markets.
Stephen M. Weld & Co.,
COTTON
82-92 Beaver
MERCHANTS,
Street,
New York City
-
cTnwfiri&e&jftfamSiSx
Sullivan Brothers & Co
Municipal and Corporation Bonds
BONDS
FIRST NATIONAL BANK BLDG.,
CHICAGO
42 T
Bremen. ALBRECHT. WELD A CO.
SMITH A HAYNE
Frank B. Hayne (in Comm end um)
Cotton Brokers,
COTTON EXCHANGE BUILDING.
NEW
ORLEANS, LA.
MUNICIPAL & COR¬
PORATION BONDS
182 LA SALLE ST BEET,
preceding oage.)
giwatxctal.
BONDS FOR INVESTMENT
The audit Company
of New York
City Investing Building
165 Broadway, New York
W. T. HATCH & SONS
BANKERS AND BROKERS
71
Devitt, Tremble & Go.
l^w
York Stock Exchange
l Philadelphia
(Established 1865.]
CHICAGO
FOR FUTURE DELIVERY EXE¬
CUTED IN NEW ORLEANS, NEW YORK
AND LIVERPOOL MARKETS.
on
Members
Chas. S. Kidder & Co.
ORDERS
(Other cotton cards
STREET
PHILADELPHIA, PA.
BOSTON, PHILADELPHIA. PROVIDENCE
Liverpool. WELD A CO.
CHESTNUT
—
Broadway,
Naw Yark
-
MEMBERS OF
NEW YORK STOCK EXCHANGE.
HOLLISTER. FISH & CO.
BANKEBS
FIRST NATIONAL BANK BLDG..
CHICAGO
PHI LA. NATIONAL BANK BLDG.,
PHILADELPHIA
Members New York Stock
Exchange
Investment Securities
Nassau
A
Pina
Straats, N. Y.
Telephone 5780 Cortland.
New York Life
DominicK A DominicK
Building, Chicago
Audits and examinations.
Appraisals of values of lands, buildings,
machinery, etc.
Financial and cost systems of accounts.
FIRST NATIONAL BANK
H. T. HOLTZ & CO.
Member* New York Stook Exchange
MUNICIPAL AND
CORPORATION BONDS
RICHMOND, VIRGINIA
Capital and Earned Surplus,
-
$2,000,000
JOHN B. PURCELL. President
JOHN M. MILLER Jit.. V.-Prest. A Cashier
FREDERICK E. NOLTING. 2d Vloe-Pr«*t
Correspondence Incited
116 BROADWAY
Correspondence Invited
171 LA SALLE STREET, CHICAGO
United Bank Note Corporation Stocks
DICK BROTHERS &, CO.
BANKERS AND BROKERS.
SO Broad St..
....
New York.
Member* of N. Y. and Phlia. Stook
Exchange*
New York. New Orleans and Liverpool Cotton
Exchange*. New York Coffee Exchange
and Chicago Board of Trade.
@FedFRASER