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IN C L U D IN G
Bank & Quotation Section
Railway Earnings Section
VOL. 91.
Railway & Industrial Section
Bankers* Convention Section
Electric Railway Section
State and City Section
S A T U R D A Y , D E C E M B E R 31 1910.
NO. 2375.
PUBLISHED WEEKLY.
WeekendingDecember24.
Inc. or
Dec.
Terms of Subscription— Payable in Advance
%
l&hvtmhde.
Clearingsal—
Chicago...........
Cincinnati____
Cleveland.......
Detroit.............
Milwaukee____
Indianapolis__
Columbus........
Toledo.............
Subscription includes following Supplements —
Peoria.........
Grand Rapids.B ' nk and Quotation (monthly)
I S tats and City (semi-annually)
B ailway and I ndustrial (quarterly) elkctric R ailway (3 times yearly) Dayton...........
Evansville___
Railway EARNINGS (monthly)
|BANKiihS’ Convention (yearly)
Kalamazoo___
Springfield, III.
Terms of Advertising—Per Inch Space
Fort Wayne__
Transient matter per inch space (14 agato lines)................................... $4 20 Youngstown__
( Two Months
(S times)....................... 22 00 Lexington........
Standimr Rusiness
Psrda )^ Three
Months
(13
standing
Business Cards
six M(mtlls
(2(5 times).......................
times)....................... 29
r»o 00
00 Akron_______
Rockford........
L Twelve Months (52 times).......................... 87 00 Canton...........
CHICAGO OFFICE—Pliny Bartlett,513 Monadnock Block: Tel. Harrison 4012 Bloomington__
Quincy_______
‘LONDON OFFICE—Edwards &Smith, 1 Drapers’ Gardens, E. C.
South Bend___
W l L M A m EC. D A N A C O M P A N Y , P u b l i s h e r s ,
Springfield, O ..
Decatur ______
F . O. l l o x O S S .
F r o n t, F in e an d D e p e y s t c r 8ts.,
New York.
Mansfield.........
........... .
Published every Saturday morning by WILLIAM B. DANA COMPANY. Jackson
Danville....... .
Jacob Seibert Jr., President and Tress.: George S. Dana and Arnold O. Dana, Jacksonville,
III.
Vice-Presidents: Arnold O. Dana, Sec. Addresses of all. Office of the Company. Lim a................
Ann Arbor.........
Adrian .............
CLEARING-HOUSE RETURNS.
Saginaw.............
The following tabic, made up by telegraph, &c., Indicates that the total Lansing.............
bank clearings of all clearing houses of the United States for week ending
Tot. Mid.West
to-day have been $2,555,898,417, against $3,051,685,109 last week and San Francisco__
$3,145,196,660 the corresponding week last year.
Los Angeles........
Seattle ........
Clearings—Returns by Telegraph.
1910.
Per Spokane.......
1909.
WeekendingDec. 31.
Cent. Portland...........
New Y ork....................................
81,148,422,662 81,980.440,417 —42.0
Boston .........................
140,738,364 —31.0
101,184,226
Philadelphia.......................
146,622,030
104,505,471
Baltimore......................
26,726,010 ~^A \
25,025,105
Chicago ......................
225,970,324 —17.2 ’
187,078,831
St. Louis.............................................
61,544,682 —11.3 i
54,508,744
New Orleans............................. .........
- 3 .4 I
16,084.087
16,649,953
For One Year ........................................................................................ $10 00
For Six Months....................................................................................... 6 00
European Subscription (including postage)......................................... 1 3 00
European Subscription six months (including postage)...................... 7 50
Annual Subscription in London (including postage).......................... £2 14s.
Six Months Subscription in London (Including postage)....................£1 11 s,
Canadian Subscription (including postage) .........................................$11 50
Seven cities, 5 days...........................
Other cities, 5 days..............................
$1,636,800,126
422,814,973
82,604,691,786
481,810,156
—37.2
- 12.2
Total all cities, 5 days......................
All cities, 1 day......... .....
82,059,624,099
496,274,318
83,086,501,942
58,694,718
—33.3
+ 74.6
Total Pacific..
Kansas City___
82,555,898,417 1 83,145.196,660 1 — 18.7
The full details for tho week covered by the abovo will be given next Sat«i „a
c
oaanot furnish them to-day, clearings being made up by the
4ii®ai'ing houses at noon on Saturday, and hence in the above the last day
•of the week has to be in all cases estimated, as e go ;to press Friday night.
Wc present below detailed figures for the week ending with Saturday,
noon, December 24, for four yedrs.
i
St. Paul......... .
Denver.............
St. Joseph-------Duluth............
Des Moines.......
Sioux City........
Wichita.............
Lincoln........... .
Topeka _______
Davenport.........
Fargo ...............
Cedar Rapids...
Sioux Falls........
Pueblo ____
Colorado Springs
Fremont___
Waterloo . . .
Hastings___
Tot. oth.West.
St. Louis...........
New Orleans___
Louisville _____
Houston______
Galveston.........
Richmond ........
Memphis...........
Atlanta.............
Fort Worth____
Savannah .........
Nashville ..........
.Norfolk........... .
Birmingham___
Augusta.............
Jacksonville___
Little Rock........
Chattanooga__
Knoxville-------Charleston.........
Mobile...............
Oklahoma.........
Macon________
Austin..............
Beaumont ____
Vicksburg_____
Wilmington,N.C.
Jackson......... .
Meridian ...........
Total all cities for week..................
WeekendingDecember24.
Inc. or
Dec.
Clearings at—
New York.......
Philadelphia__
Pittsburgh.......
Baltimore____
Buffalo.............
Albany.............
Washington . . .
Rochester____
Scranton..........
Syracuse_____
Reading..........
Wilmington___
Wilkes-Barre . .
Wheeling ____
Harrisburg___
Trenton .........
Y ork ...............
Erie________
Binghamton__
Grccnsburg___
Chester--------Altoona______
Franklin..........
S
%
1,722,319,410 1,808,310,000 —4.8 1,838,256,657
143,911,977 136,406,199 + 5.5 107,004,420
52,238,467
48,880,419 + 6.9
38,018,253
32,036,047
26.893,185 + 19.2
18,410,140
9,142,773
9,423,618 —3.0
7,758,661
5,056,784
4,599,330 + 23.0
5.132.502
6,093,440 + 12.1
7,504,328
5,380,182
3,048,850 + 18.4
3,008,178
2,781,359
2,412,960 + 10.5
2.660.960
2,277.058
2,072,139
1,550,622
1.841,981 + 12.5
1,425,428
1,140,294
1,397,839 + 2.0
1,528,230
970,262
1,344,779 + 13.7
1.474.960
1,261,673
1,377,221 + 7.0
1,893,320
1.430,328 +32.4
1,416,771
1.231.371
937,934
1,058,939 + 16.3
1,718,476
1,542,175 + 11.4
1.119.503
979.178
787,700 + 24.3
644.035
812,336
836,641 —2.9
581,882
486,600
398,300 + 22.2
499,700
496,806
480,093 +3.5
510,653
561,661
452,222 +24.2
381,596
500,870
409,146 + 22.7
342,600
275,000
250,000 + 10.0
235,570
Total Middle.. 1,994,541,299 2,060,273,365
Boston .............
Providence ........
Hartford...........
New Haven........
Springfield........
Portland...........
Worcester.........
Fall River.........
New Bedford__
Lowell...............
Holyoke.............
158,674,547
7,592,800
4,300,486
2,944.537
2,064,393
1,701,795
2,094,584
1,073,005
1,203,289
503,277
509,884
149,704,252
7,821,400
3,460,389
2,704,102
1,900,000
1,508,178
1,625,604
1,159,580
1,015,623
428,295
481,829
S
983,675,645
95,681,033
41,859,907
18,909,298
5,053,438
3,609,543
3,774,902
2,420,024
1,905,667
1.584,229
1,146,920
1.030,554
1,026,158
1,029,769
<76,835
017|936
519,098
323,300
462,540
413.280
366,725
185,947
—3.2 2,036,012,939 1,166,633,414
+ 6.0
—2.9
+ 24.3
+8.9
+ 8.6
+ 12.8
+ 28.8
—7.5
+ 18.5
+ 17.5
+5.8
126,584,605
98,333,157
6,365,800
5,253,300
2,794,909
2.344,859
1,826,047
1,660,159
1,820,514
1,472,719
1,334,501
1,464,748
1,378,834
1,207,280
899,447
829,663
697,464
709,953
392,082 ’
399,959
398,108
415,854
Total New Eng. 182,662,577 171,809,252 +6.3 144,124,516 114,439,440
Sots.—For Canadian Cl ailngs see 1‘CommercIal and Miscellaneous News."
j
j
Total Southern
272,327.895
26,026.900
19,659.182
18,303,813
13,583,818
9,682,540
6,714.100
4,898,432
3,561,496
2,484,517
2,138,704
2.734,282
1,504,762
1,117,873
888,396
1,122,898
1,119,545
1,258,900
938,487
1,122,869
560.000
553,874
4S6.437
533,760
502,465
435,581
405.000
404,479
316,433
419,944
174.000
37,056
622,404
235,159,485 + 15.8
‘25,217,400 +3.2
18,814,840 + 6.8
13,780,873 +32.8
9,934,519 +36.7
7,284,420 +32.9
6,732,100 —0.3
5,168,417 —5.2
2,557.613 +39.3
2,086,807 + 19.1
2.248.804 —4.9
2.191.804 + 24.8
1,391,760 + 8.1
1,162,066 —3.8
791,416 + 12.3
1,170,962 —4.1
865.486 + 29.3
1,096,900 +5.6
791,520 + 18.6
884,296 + 26.9
462,856 + 20.9
580,647 —4.6
410,667 + 18.4
461,278 + 15.7
466,772 +7.6
427.487 + 1.9
368,199 + 10.0
363,915 + 11.1
326,122 —3.0
307,391 +36.6
145,000 + 20.0
19,031 +94.7
549,206 + 13.3
Not Included In total
396,640,842 343,820,059 + 15.4
37,398,991 + 15.0
43,008,190
16,036,307
11,735,806 +36.6
10,123,749
10,342,077 — 2.1
4,480,876
4.150.000 + 8.0
7,421,305
6,074,941 + 22.2
9,000,000
7.400.000 + 21.6
4,520,829
5,352,598 —15.6
3.453,082
1,669,948 + 106.8
1.175,025
962,336 + 22.1
1.443,037
1,150,510 +25.5
1 , 200,000
910.000 +31.9
850.000
740,181 + 14.9
684,450
615,838 + 11.1
508,746
439,329 + 15.8
464,928
420.000 + 10.7
168.000
240.000 —30.0
600,000
- 500,000 + 20.0
105,138,524
90,102,555 + 16.7
53,283,796
43,865,875 + 21.5
22,330,726
24,262.469 — 8.0
15,002,506
11.763,406 + 27.')
10,413,196
9,045,551 + 15.1
9,459,140
8,269,607 + 14.3
7.000.000
6,697,308 +4.5
3,734,396
5,193,615 —28.1
3,826,882
3,001.631 +27.5
2,446,370
2,426,236 + 0.8
3,429,626
2,971,136 + 15.4
1.650,752
1,222,044 +35.0
2,160,107
1,417,048 + 52.4
1,663,453
1, 2 ! 2,2 '0 +37.2
912,432
1,133,666 —19.5
1,231,590
954,100 + 29.1
1.000.
000895,000 + 11.7
745,012
691,822 + 7.7
562,430
502,658 + 11.9
307,755
325,751 +5.5
1,012,280
843,586 + 20.0
182,225 Not Included In total
142,172,4,9 126,694,749 + 12.2
76,833,649
65,103.243 + 18.0
25,346,419
21,537,663 + 17.8
13,106,201
13,650,641 —4.0
13,230,411
12 , 000,000 + 10.3
9.725.000
6,950,500 +39.9
7,633,628
7,174,167 + 6.4
9,951,611
.5,958,236 + 67.0
16,087,510
11,961,194 +34.5
8.014,571
6,339.023 + 26.4
8,883,556
5,181,236 +71.4
4,000,000
3,710,520 + 7.8
4,039,072
3,455,553 + 16.9
2.900.000
2.350.000 +23.4
4.395,350
2,862.088 +53.6
2,983,343
1,996,045 + 49.4
2,301,424
1,603,234 + 43.5
2.300.000
1,907,337 + 20.6
1,640,994
1,534,361 +6.9
1,878,887 + 18.2
2,211.831
1,898,897
1,375,987 +38.0
2.250.000
2.075.000 +8.4
1,850,283 + 207.7
5,692,280
2,043,676
706,305 + 189.3
650.000
616,612 + 5.4
413,550
344.383 + 20.1
790,505
627,576 + 26.9
700.000
568,000 + 23.2
500.000
465,220 + 7.5
230,529.478
185,784,294 +24.1
S
215,980,875
21,282,800
11.881,731
12,109,590
9,467.103
6,619,774
5,589,900
4,781,895
2,309,994
1,829,455
1,829,213
1,895,457
1,121,194
987,582
533.848
963.016
538,118
650.000
700,809
626,507
376,702
434,592
341,329
428,430
336,105
367,303
225.000
283,941
286,174
238.267
141,013
16,902
1907.
162,579,748
17,758,550
12,798,954
10,333,931
9,037,530
4,660,272
3,799,700
3,979,567
1,749,981
1,592,147
1,488,927
1,007,622
705,428
787,171
506,161
525,579
546,545
417.000
627,112
468.957
343.715
344,389
235,590
311,430
234,509
204,505
182,145
228,061
184,333
240.000
101,722
14,973
305,173,619
29,383.431
9,277,560
8,541,183
2,920,255
5,756,492
5,318,869
4,224,788
1,655,193
1.032,913
1,092,382
700.000
538,803
503.829
342,257
300.000
235,025
237.996,254
23,420,543
6,066.752
6,029,499
2,137,339
2,539,658
3,661,790
4,084,605
1,073,461
593,606
625,622
71,822,980
36,218,592
15,384,492
10,924,768
7.897.578
7,690,738
4,470,043
50,943,555
25,156,561
19,930,233
8,679,227
9,617,066
6,530,241
3,107,585
2,577,763
2,016,704
1.771,833
1,469.331
1,312,062
852,168
758,882
700.000
460.000
611,130
560,058
385,594
2,100,390
1,587,399
913,004
948,279
916,258
782,831
539,594
545,221
450.000
500,808
600.000
271,413
96,061,756
58.278,520
16.211.000
12,112.798
13,042,692
6,149,000
5.782.286
5,314,997
4.370,440
5,132,559
3,654,732
2,266,578
2,784,571
2,176,113
1.394,098
1.477.287
1.483,546
1,653,955
1,343,981
1,631,604
937,509
1,376,803
937,821
573,315
525.000
416,294
333,998
392.000
83,175,310
49,594,030
21,543,903
7,622,359
8,168,417
151.753.557
286,302
250,000
174,873
6 , 000,000
5,120,478
4.704,251
3,909,796
3,421,206
4.410,279
3,358,828
1.991,997
1,676,536
1,662,837
1,095,793
1,217,423
1,038,952
1,343,905
1,250,000
1,352,024
561,517
633,379
550.000
275.000
458,417
264,306
133,225,63
Total all......... 3.051,685,169 2.978,483,274
2,805.549,367jl,786.413.612
OutsldoN. Y_. 1,329,365,759 1,170,173.274
967,292,7101 802,737,967
Note— Christmas Holiday In 1909, 1908 and 1907.
THE CHRONICLE
1730
CHRONICLE INDEX.
The index to Volume 91 of the “ Chronicle” —which
volume ends with the current issue—will be sent to
our subscribers with the number for Saturday, Jan. 14.
Owing to the increased size of the volume, it is no
longer possible to include the Supplements in binding
the same. These latter will therefore be bound sepa
rately in six months’ or yearly volumes, as may be
desired.
THE FINANCIAL SITUATION.
Are railroad managers doing their duty towards
their security holders? The question seems a pertinent
one, in view of the readiness with which they accede
to demands for increased wages. All through the
calendar year 1910 there have been nothing but wage
increases, week after week, and month after month.
Most of these advances it was impossible to resist and
the high cost of living also appeared to afford warrant
for them. But in view of the conditions which have
developed, is it not time that a halt should be called?
Obviously wage increases cannot be continued in
definitely.
Many times through the year the managers have been
held up by threats of a strike. The present month the
Brotherhood of Locomotive Engineers, which has the
reputation of being a most conservative body, had
recourse to the same device, and last Saturday the
threat proved effective. According to the newspapers
the engineers demanded an increase of 17%. The
managers declared the very best they could do was
to grant an advance of 9 ^ % . They ought to have
told the truth and said that having due regard for the
interests of the security holders, they could afford to
add not even a farthing. But 9 ^ % did not suit the
engineers, so they threw a bluff and insisted they must
have the full 17% demanded. With his usual facility,
Labor Commissioner, Charles P. Neill, intervened and
the newspaper men heard from him what a difficult
time he was having, since neither side evinced a
disposition to yield. All of a sudden, however, the
usual compromise proposition was brought up and the
engineers agreed to accept an increase of 10 1-3%.
The papers say this will give an average addition of
$192 per annum to every engineer concerned and that
the total addition on the Western roads involved will
reach $3,899,000.
In numerous cases the raise is considerably more
than 10%. For instance, in the case of engineers on
Mallet engines the old scale was $5 40 for a ten-hour
day. The Brotherhood had the temerity to ask $7 00
and $8 00. They get $6 15 and $6 40. For engineers
in the transfer service the former wages were $4 00 per
day; now the pay is to be $4 50.
But this is not all. The Western roads have been
going through a similar course of proceeding at the
hands of the Brotherhood of Railroad Trainmen and
the Order of Railway Conductors, who also asked for
higher pay. Here an agreement has been reached
granting a flat increase in wages of 10%. This, we
are told in the news dispatches, will mean an added
expense of $5,000,000 a year to the railroads.
Can the Western managers justify these increases?
Can they justify any increase at all at this juncture?
The state of general business certainly does not
warrant any larger outlays, seeing that trade is
[VOL. L X X X X I .
declining. Consequently, no new revenue can be
looked for from an increase in business. Nor can
it be claimed there is anything in the condition
or the prospects of the roads themselves that would
justify any further additions to operating cost.
Nothing has been more conspicuous in recent months
than the frightful way in which railroad net reve
nues have been shrinking. Nor is the attitude of
the Inter-State Commerce Commission such as to
furnish a plausible excuse for new additions to operat
ing cost. Shippers are fighting the proposed advances
in rates— which is the only way in which compensation
could be found for the higher operating cost— tooth
and nail. What the Commission will eventually do is
in doubt. But suppose some moderate advance is
eventually granted, this at the most will cover only
a small fraction of the additions to expenses repre
sented by the advances
in
wages already
made.
Control of rate increases is now absolutely in the
hands of the Commission and the Commission by its
conduct during the last six months has made it plain
that it will not consent to let any advances go into
effect until after prolonged investigation and argument.
It has the power to hold up every advance that may
be proposed for a period altogether of ten months.
It is so overwhelmed with work that these ten months
will be necessary if each advance is to be investigated.
Therefore, the possibility of getting higher rates,
except on the applications already made, is put off
far into the future. On the other hand, the advances
in wages now consented to will go into immediate
effect.
The whole sum and substance of the matter, there
fore, is that railroad managers are consenting to large
further increases in their monthly and yearly expenses
without any immediate chance of being able to offset
the same. Is that right? Is that in accordance with
a proper conception of their duties and responsiblities?
Remember that it has been estimated that the various
advances in wages made through the calendar year
1910, prior to these latest ones, will swell the expense
accounts of the railroads system of the United State s
by $100,000,000 to $150,000,000 per year. No way
has as yet been pointed out of meeting this additional
expense except by higher freight charges, and resort
to that expedient we have seen is practically un
available.
Why, therefore, blindly continue in a course which
must lead to inevitable destruction? We know that
carriers would avoid the inconvenience to the public
which must result from a strike, but it seems to us the
proper course for railroad managers hereafter to
pursue when they are confronted by a body of em
ployees demanding higher pay is to ask these em
ployees first to find the means to meet the expense.
Confronted with such an alternative,these employees
might then themselves appeal to the Commission and
ask the latter’s consent to higher rates.
Such an
appeal might prove a great deal more effective than if
the managers made it. At all events, the matter
ought to be put up to the employees themselves,
and if then they choose to strike let them take the
responsibility and let the public know where the blame
belongs. The cost of living is now declining, and this
is no time for granting gratuities.
Dec. 311910.]
THE CHRONICLE
In his forthcoming report. State Comptroller Clark
Williams— who goes out of office with the close of the
year—discusses suggestively the new inheritance-tax
law. He shows that the State cannot expect the in
crease in revenue counted upon. The tax is so easy to
evade. Thus there is a new ground of objection to it.
Avoidance is possible by a mere change of domicile.
A New York citizen who chooses to transfer his
estate unimpaired can remove from the reach of this
tax all his property situated outside by moving his
legal residence. And the city business man has his
choice of two States conveniently near; if he wishes
to protect his New York property also, says Mr.
Williams, “ he has but to organize a corporation in
another State and transfer his property to it in pay
ment for its stock.”
This country has gone far on the very questionable
and dangerous path of using taxation for purposes
beyond revenue and even inconsistent with revenue.
But when the State, through a graded tax, seeks to
take 10%, 15%, 20% , and on amounts above $1,
000,000 even 25%, of the bequest, it is time to call a
halt. A sure result, which has already begun to
show itself, is to expel capital, and this country, which
still needs capital for development, cannot afford
to threaten it. Expedients to “ reach” everything
and everybody, resident and non-resident, will cer
tainly make all American securities less desirable in
foreign eyes.
The situation is greatly aggravated where the
Empire State alone embarks upon such a course, for
the inevitable effect will be that other States will gain
capital at its expense.
Phis latest tax schedule was enacted hastily, with
out thought. Governor Dix is a business man, not a
politician in the usual sense. He may be expected to
judge business subjects rationally. This is one of
many subjects which deserve a cool and sane review
ing.
A special news dispatch to the “ Times” tells us that
passengers awaiting incoming or outgoing trains in
the Union Station of the Pennsylvania road in Pitts
burgh are hereafter to be entertained into forgetfulness
of delay by moving picture shows. The films are to
be changed daily, and a strict censorship will exclude
everything objectionable. Utility is to be consid
ered, also, for instead of being given by a voice bawl
ing through a megaphone, the train announcements
will be projected upon the picture field.
Supposing this story correct, it gives another ex
ample of progressi'veness and of a desire to court public
favor. What Tennyson called “ the many-headed
beast” keeps a growl always ready, and is just as
unanimous in demanding more and more done for it
as in complaining against even the smallest increase
in rates. When the Long Island road abandoned,
because no longer profitable to it in. any sense, a ferry
which it had maintained for some years between Wall
Street and Long Island City, there was a complaint
which was rather faintly echoed when the annex boat
between Brooklyn and Jersey City was recently dis
continued, for the same reason. The complaint
seemed to hold that if a particular convenience had
once been established, it could not be withdrawn for
any reason; and if the argument set up were pushed
to the extreme it would declare that if some patrons
1731
(just how few was not stated) only wanted a train, at
any particular hour and minute, it must be found
ready. For do not railroads exist “ for the public,”
and are they not to “ serve” ?
Nobody denies the abstract proposition; how far
it can be carried into practice (without bankrupting the
road, for instance) is still to be definitely determined.
Meanwhile, it is timely to note that the railroads really
desire and strive to please.
Existence of such a body as an Art Commission,
notwithstanding the veiy word “ commissions” be
gins to put the careful citizen upon inquiry, is amply
justifiable, and even necessary, in such a city as this,
provided the “ Art” is genuinely in the men composing
it, and provided their feeling for beauty is qualified
and guided by sound business and good sense. There
is need of some power to preserve the city from archi
tectural and monumental horrors, and from such mon
strous crudity as caused a park commissioner, many
years now past, to set himself at cutting away trees
in Central Park so as to open what he called “ vistas,”
which were views of elevated structures and other city
characteristics that had been cleverly screened from
sight by the landscape gardeners who created the
park out of a rocky waste.
The minutes of the Art Commission for 1908 and
its reports for that year and 1909 indicate that
the members possess activity, public spirit and some
genuine art sense and common-sense. Their report
for 1909 is illustrated, not with pictures of what might
be, but of what is, accompanied by brief comment.
Some very good monumental works are misplaced,
not having good backgrounds and being in a huddle
of traffic. Conspicuous examples are the Washington,
Lincoln and Greeley statues; also that of Nathan Hale.
Examples of good background and surroundings are
the Soldiers' and Sailors' monument and several ani
mal figures in the parks.
Some examples of hideousness are almost depressing
to artistic hopes. The Brooklyn Heights Association,
mentioned in the “ Chronicle” at the time of its found
ing a year or more ago, shows us particularly the
Brooklyn approach to the first bridge, as a shocking
example. The structures at that place are really as
unsightly and as little related to anything beyond
unrelieved ugly utility as are the pig-sty and woodshed
extension of a rural farmhouse. One bridge over the
Seine and the Westminster Bridge in London are shown
as examples of what might be. The association de
sires the city to acquire several strips of private prop
erty in that neighborhood, now assessed at a little over
millions. That this is desirable, and that on its
intrinsic merits and advantages it ought to be done,
can readily be granted; that it is feasible at present
is much less clear. Incidentally, however, we may
take the case as one more example showing that the
city ought to conserve its financial resources for its
many growing needs, and not .load itself almost to
staggering by subways which private capital is ready
to build.
The catalogue of works of art owned by the city
includes 174 portraits, 17 mural decorations, 17 tab
lets and 205 pieces of sculpture—such as they are,
we must reluctantly add. Yet it is something that
beauty’s own justification for being is admitted, even
as an abstract proposition. Materialistic as we still
173&
THE CHRONICLE
are, it is a step in progress that we are beginning to
perceive that beauty is also a commercial asset and
can make commercial returns. That we do not, asyet,
very well know how to be decorative and artistic is
not really discouraging, as against evidence that we
are feeling a desire and reaching a determination to be
so. Ugly things are not necessarily things of utility,
and useful things can be beautiful also; it is much to
perceive this.
Superficially there have been one or two develop
ments suggestive of monetary stringency here and
abroad, but the truth is that a year has seldom closed
with conditions so comfortable in the leading financial
centres of the world. A rise in call loans in New York
on Thursday to 5% , though the maximum rate re
corded since the first week of January last and yes
terday to 7% for a few transactions, meant only
the calling of loans by several of the larger down
town institutions that must provide considerable
sums for corporations about to disburse January divi
dends and interest on bonds and notes. On the same
days Stock Exchange facilities for long periods were
obtainable at a new low charge for the season, namely
3 y2% . It would not be much of an exaggeration to
state that funds are almost unlendable for speculative
purposes, while even the demand from mercantile
sources, for a time so extensive as to maintain dis
counts nearly 1% above interest rates, has diminished
so radically that high-grade bills can be placed at a
minimum of 4% . Last Saturday the Clearing-House
banks were able to report a small gain in surplus,
bringing the actual total up to $9,895,725, and, though
the heavy transactions incidental to the end of the
year may weaken the banking position for a week or
two, eveiy confidence is felt that before the end of
January the position here will be one of great strength.
Indeed, everything points to a period of abnormally
cheap money in the early months of 1911.
Abroad the most notable incident of the week was
a drop in the reserve of the Bank of England from
46% % last week to below 38% this week. A decline
of S% % looks somewhat startling, but when the cir
cumstances are understood and precedents are recalled
to mind, the matter, it is discovered, is quite in line
with the natural order of events during the final week
of December. The decrease in the ratio of reserve
was brought about less by a shrinkage in bullion of
$7,510,000 than by an expansion in what is technically
called “ other securities,” but what is really equivalent
to loans as understood in this country. The increase
in this account reached $42,845,000. It may be well
to explain that it is customary for banks carrying large
quantities of long bills, or discounts, to turn them into
the Bank of England just before the end of the year
and have the money derived therefrom credited to
their accounts. One logical result of this operation
was disclosed this week by an increase of $30,115,000
in ordinary deposits, the majority of those who
handed their bills to the Bank for discount having
simply had the proceeds deposited in their names.
An English financial institution likes to be able to
record in its Dec. 31 balance sheet a generous amount
of cash to its credit in the Bank of England, since this
money is tantamount to cash reserve. We might add
that the 38% proportion of reserve is the best re
corded in the closing week of the year in recent times,
[V O L. L X X X X I .
while the total amount of bullion on hand ($156,777,725)
is also above the average. There can be little doubt
that the usual return flow of cash will take place after
tfie new year opens, and that the banks, having ac
complished their “ window-dressing,” will again ac
cumulate bills for discount and thus relieve the Central
Bank of its extra burden. The sound state of the
London money market is reflected by the low rates
current for bills—less than 3 % % .
On the Continent rates are lower rather than higher
as compared with a week ago. The Imperial Bank of
Germany secured some $2,500,000 new gold in London
on Wednesday, and this contributed to weaken dis
counts in Berlin; bills now forwarded from New York
are accepted on the low basis of 3% % , which is 1% %
under the Reichsbank’s minimum charge, a difference
wide enough to portend a reduction in the official
quotation in the early part of 1911. The Bank of
France this week sustained a loss of $2,000,000 in gold
and silver and was obliged to increase its note circu
lation and bills discounted by more than $56,000,000;
yet the discount rate in Paris has fallen to 2 % % . An
official statement issued by the French Bank yesterday,
referring to its refusal to sell gold for export, explained
that the measure was not directed against America,
but was merely a precaution to protect the gold reserve
in view of the bad crops in France and the con
sequent purchases of cereals abroad. As to the
probable course of rates in the new year, no
very definite predictions need be ventured, as the
generally expected easiness may be checked to some
extent by extensive applications for new capital on
the part of governments, municipalities, railways and
other corporations. The cables announce that a
South Manchurian loan of $30,000,000 is about to be
floated in London, where the total new issues for the
year have approximated $1,350,000,000.
According to some Washington correspondents, the
unabated zeal of the Government in attacking trusts
(which are assumed to constitute one side of a real issue
while the people at large constitute the other), is now
to undertake more labor by proceeding against the
companies that make electrical goods. Assuming that
the announcement is not premature, and taking (as
for the purpose we may do) electric light and electric
power as one subject, we may point out, in reasonable
mitigation of any sins laid to these companies’ charge,
that the service to the public is enormous. It is al
most impossible to estimate the debt to the genius who
produced those two great modern applications. With
out electrical propulsion, rapid transit by all urban
and rural electric surface lines would not exist and all
underground and unclcr-river tunnels would be im
possible. This agent of inestimable service came just
as it was needed, and it will do us no harm to remem
ber that we have no right to demand it as a gift.
But the most interesting point in this new line of at
tack concerns the relation of patents to it. It is un
deniable that some abuses, almost leading to a just
suspicion of collusive action in some extreme cases,
have arisen in the operation of the patent system. It
is known that self-interest has not invariably moved
owners of patents to bring them into prompt working,
as it was assumed they would naturally do; on the con
trary, patents on improved devices have sometimes
been withheld from use by their owners through as-
Deo. 311910.]
THE CHRONICLE
signment, because they saw more profit by withhold
ing than by working. It is fairly open to argument
whether the patent law ought not to be somewhat
modified in the interest of the whole people—whether,
in' particular, it would not be wiser to adopt the Euro
pean practice of voiding a patent which is not worked
according to some specified minimum of degree and
time. This, however, need not be discussed,since it
is wholly a question for the future and has no bearing
upon any existing patent.
To permit the owner of a patent which is of public
importance and is now in profitable working to acquire
and lock up another patent which he perceives would
reduce instead of increase his profits, is undeniably
towards monopoly; to make his own terms for mar
keting a patented article is also monopolistic. There
is no question that this familiar word, now used as a
missile and imagined to be deadly to the object aimed
at, may be justly leveled at every patented article
in the list. But it might clear the mind to remember
that no article is a genuine monopoly unless the law
has exclusively given it to one producer or seller and
prohibited it to all others. In the time of John Hamp
den, the sovereign made such grants; they arc forbid
den and hated in this country, except that the patent
law founds one, which is at once solitary and absolute.
This law grants an “ exclusive right to make,use
and sell” , and every existing patent is clearly a con
tract. Just what is involved in this exclusive right
must be left to the courts; but the language is appar
ently as broad as could possibly be made. In Section 8
of the Constitution, the framers, with monopolies a
subject fresh in their minds, enumerated among the
powers of Congress “ to promote the progress of science
and the useful arts by securing for limited times to
authors and inventors the exclusive right to their re
spective writings and discoveries.” The right is here
declared to be “ exclusive,” with only a limitation in
time. The motive is declared to be the general pub
lic good; and while it is permissible to argue whether
the exclusiveness should not be modified hereafter, for
the better furtherance of this general good of the coun
try, the absoluteness of the right and its breadth seem
clear.
Relief from the burden of monopoly, as in the pur
chase price of improvements, is provided by limitation
in time; endure it, and it comes to its end. As for the
reported contention that the electrical companies
have no valid patents in force on lamps and cannot
lawfully fix prices on those because of patents on ma.
chines used in making them, is not this a question of
fact in the open market? If the fact is that lamps
cannot be made in competition, without using patented
methods, control over those methods seems to involve
control of the prices of the product of those methods.
Thus we come back to the exclusiveness decreed by
a patent for a limited time, and the natural remedy
is to restrain impatience until the grant expires.
Immigration into the United States during Novem
ber 1910, while noticeably less than for the same
period of 1909, was very much greater than in 1908.
The total influx reached 86,144 (comprising 74,353
immigrant and 11,791 non-immigrant aliens), con
trasting with 98,020 in the month last year and only
50,965 in 1908. Italians, as usual, made up the greatest
quota of the aggregate, but arrivals of English, Ger
1733
mans, Hebrews, Poles and Greeks continued com
paratively large and quite generally in excess of a
year ago.
.
For the eleven months of the calendar year 1910 the
total inward movement of aliens (immigrant and non
immigrant combined) was 1,154,679, against 1,063,486
for the like interval of last year, 496,474 two years
ago and 1,428,361 in 1907. Emigration of aliens in
November was along moderate lines and rather less
than for the same month of recent years. For the
eleven months of 1910 the efflux of steerage passengers
aggregated 365,852, against 299,802 last year, 559,816
in 1908 and 438,540 in 1907. Striking a balance be
tween the inward and outward movements, we learn
that for the eleven months since January 1 1910 there
was a net gain of 788,827 in the foreign-born popula
tion of the country, this comparing with an addition
of 763,684 in the period of 1909, a loss of 63,342 in
1908 and an increase of 989,821 in 1907.
Foreign discount rates close the year on a remarka
bly low level. The drop of Sy2% in the ratio of re
serve carried by the Bank of England has not been
followed by any notable rise in the value of money,
although naturally the undertone is firm on account of
the imminent settlements. The range for sixty and
ninety-day bills to arrive next month is S y to 3 % % ,
while spot bills are negotiable at 3 7-16% to 3}4%.
In Paris there has been a recession to 2% % for both
spot bills and bills to arrive. Berlin has again been
benefited by the importation of gold from the Lon
don open market; the private discount rate there has
weakened to 4>£% for spot bills and to 3 % % for bills
to arrive, the latter figure suggesting that a reduction
in the Bank rate is looked for early in the new year.
Amsterdam quotes 3 ^ % for commercial and 4%
for finance paper.
Brussels is a shade firmer
at 3 % % .
The Bank of England disclosed in its weekly state
ment issued on Thursday a loss of £1,508,348 bullion,
and since then there have been exports to India and
the Continent of £450,000. The total decrease in
reserve was £1,475,013. As is usual at the end of
December, the Bank was called upon to accept a mass
of long bills for discount; loans showed the very large
increase of £8,569,068, the bulk of which, however—
£6,023,081—was placed to the credit of ordinary de
posits. Public deposits were swelled to the extent of
£1,068,095. Our special correspondent in London
advises us that gold was exported during the week in
considerable volume to Egypt and India, and that the
bullion held at the close of the Bank week was £31,
355,545. The ratio of reserve to liabilities decreased
from 46.35% last week to 37.86% tfiis week, which
figure has not been exceeded in the final week of De
cember for a number of years. Our correspondent
further advises us that the loss of bullion for the week
was due in the main to shipments to the interior of
Great Britain, but exports to Egypt were also of rather
large volume, as already stated. The inflow into the
Bank was light and was made up largely of purchases in
the open market. The del ails of the movement into and
out of the Bank were as follows: Imports, £90,000 (of
which £6,000 from Australia and £84,000 bought in
the open market); exports, £604,000 (of which
£341,000 to Egypt, £130,000 to Bombay, £100,000 to
South America and £33,000 to various destinations)
1734
THE CHRONICLE
[VOJL. LXXXX1.
and shipments of £994,000 net to the interior of Great Most financial institutions as well as mercantile com
panies have been too busy with other matters calling
Britain.
for adjustment before Dec. 31st to pay much attention
That there had been over-expansion of bank credit to commercial paper transactions. The out-of-town
and that a day of reckoning would come, probably at demand has been fairly good, and the drawing of bills
the end of the year, was a claim made six months ago, has fallen off to such an extent that rates have re
and even three months ago. But what has the end sponded quickly to the fall in money. The best 4 to
of the year actually brought to the local money 6 months’ single-name bills and 60 to 90 days’ endorsed
market? Although there was a temporary rise in bills receivable can now be placed at 4 @ 4 % % , while
over-the-year loans yesterday to a maximum of 7% , ordinary single names range from 4% to 5% . After
the average ruling rate for call loans in this, the Tuesday’s settlements have been effected more
final, week of the year has been under 4% , time activity is expected.
money has declined to the unusually low rate of
Foreign exchange movements have of late years
3 % @ 3 % % , and at the same time commercial paper
become
so erratic and frequently so strikingly at vari
rates have weakened to 4 @ 4 % % . These quotations,
ance
with
trade and international monetary conditions
low as they are, do not fully represent the plethoric
that
movements
which five years ago would have been
state of the market. Banks and trust companies
having large sums to lend on high-grade collateral have regarded as sensational now excite little' comment.
been unable to find borrowers on the terms named, Had any one in, say, the summer of 1900, or even of
so limited is the need for accommodation. Stock 1905, predicted that in the final week of the year ster
Exchange houses complain that they are carrying ling would decline to the gold-import basis, his repu
exceedingly small lines of stock for their customers tation would have suffered severely. Yet that is ex
and that, far from having to borrow time money, they actly what has happened in the closing days of 1910.
are in a position to enter the market as lenders. The The fact does not appear to have become widely known
easiness has been contributed to by the withholding that New York bankers were bidders for the $5,000,000
of new offerings of securities pending the opening of the new South African gold offered in the open market in
new year; it is computed that the flotation of loans by London on Wednesday. We learn that one influential
railroad and other corporations during the second half institution was prepared to pay appreciably above
of 1910 has been equal to only half the amount sought the Mint price for the consignment, and had the oppor
in the first six months of the year. The prospects for tunity offered it is probable that at the last moment
distributing bonds and short-term notes, however, are the limit would have been raised sufficiently to secure
brightening, and extensive offerings are looked for the metal in spite of the rather stiff price paid by
within the next two months.
If the railroads are Berlin and London. The state of our foreign exchange
given permission, as they certainly should be, to advance market can only be described as exceptional. The
freight rates, a beneficent stimulus would be given balance of our exports over imports for the year does
the development of transportation facilities on the scale not at all warrant the demoralization now prevalent—
demanded by the growth of the country, and the new no large quantity of exchange can be disposed of
securities issued for this purpose would tend to prevent above 4 85 for demand sterling or 4 85% for cable
the rise in foreign exchange and the loss of gold to transfers, while yesterday there was a sudden drop to
Europe which not infrequently occur in the spring 4 84% and 4 85%, respectively. Nor does the relative
of the year, to say nothing of the other advantages to value of money here and in London conduce to ab
be derived by providing needed employment for labor normally low exchange quotations, since time loans
and orders for steel manufacturing, railway equipment here are virtually on a par with private discounts
abroad. Unless bankers have misrepresented the
and allied industries.
Call money was not affected by the preparations for extent of their sales of securities to Europeans, by
dividend and interest payments until Thursday. greatly understating their volume of business,
Until then the maximum quotati on for the week had the explanation cannot be found wholly in
In exchange circles a good
been only 3 % % , reached on Wednesday, while on that this direction.
day, as well as on Tuesday, obligations were renewed deal of importance is attached to the liquidation of a
at 3 % % . On Thursday some calling of loans took huge quantity of bills accumulated by a certain trust
place and a few borrowers paid as high as 5% in the company, whose directors decided that the money
afternoon, but most of the business was done at 3 % % • thus locked up could be used to better advantage.
Yesterday eleventh-hour borrowers had to pay a It is currently rumored that the institution referred
higher rate; the range was 5% to 7% , the final loan to carried upwards of $25,000,000 of exchange, and
being made at 6 % % . These quotations cannot be that the great bulk of this was forced on the market
regarded as excessive for the last day of the year— this month. After all this has been said,however, the
no call or time money loans are made on Saturdays. position still remains puzzling. There has been an
During the first half of the week the range for time unseasonable lack of inquiry for remittance during the
money was 3 % % to 4% , but competition to place last fortnight. It was thought that after the final
funds became keener as the week progressed, and on steamer to reach Europe this year had sailed from New
Thursday contracts were entered into at a new mini York the buying of cable transfers to meet January 1st
mum for the season— 3 % % . Only in exceptional cases obligations would become extremely keen. But noth
can funds be placed at 4% , while even 3 % % is not ing of the kind has been witnessed. Instead, the
always obtainable. The range may be given, there quotation for cable transfers within the last week has
fore, as 3% @ 3 % % for all periods from sixty days to fallen from 4 85% to as low as 4 85%. Certain opera
six months. The activity noted in commercial paper tors, however, do not calculate upon further weakness
last week subsided during the last two days. immediately after the year ends. They reason that a
Deo. 311910.]
THE CHRONICLE
very large percentage of the dividends and interest
payments on American secruiti.es now abroad will
have to be remitted, not before but after Jan. 1,
and that, consequently, there will be an increase in the
demand for exchange in the first half of next month.
The market's tone could not well be weaker than it
has been this week nor could the dulness be much
more pronounced. The principal handlers of ex
change have endeavored, whenever possible, to avoid
having to press their bills on the market. Yet the
movement throughout the week has been downwards
rather than upwards, although, until yesterday, quo
tations scarcely moved; sight drafts had ruled between
4 8505 and 4 8515 and cable transfers between 4 8540
and 4 8550; but yesterday a break to 4 84% for de
mand and to 4 85% for cable transfers was quickly fol
lowed by a recovery to above 4 85 for demand and to
4 85% for cable transfers. It is quite within
the range of possibility that New York will again be
a competitor for gold in London next Tuesday.
Compared with Friday of last week, sterling ex
change on Saturday was practically unchanged. On
the resumption of business on Tuesday, after the holi
day, demand declined to 4 8510@4 8515, cable trans
fers to 4 8545 @ 4 8550 and sixty days to 4 8240 @
4 8245. On Wednesday demand fell to 4 8505 @
4 8510 and sixty days to 4 82 @ 4 8210; cable transfers
remained virtually unchanged. Demand on Thursday
closed weak at 4 85@4 8510, cable transfers at 4 8540
@ 4 8545 and sixty days at 4 8195@4 8205. On Fri
day the violent fluctuations already described oc
curred.
The following shows the daily posted rates for
sterling exchange by some of the leading drawers.
Fri., Mon., Tues., Wed., TIiuts., Frl..
Dec. 23 Dec. 26 Dec. 27 Dec. 28 Dec. 20 Dec. 30
Brown
/GO days 4
Bros. & Co.......... . . /Sight.. 4
Kidder,
/GO days 4
Peabody & Co__ ../Sight.. 4
/GO days 4
Bank of British
North America - - ../S ight.. 4
/GO days 4
Bank of
Montreal.... ........ ../Sight.. 4
Canadian Bank
/GO days 4
of Commerce----- ../Sight . . 4
Heldelbach, Ickel/ GOdays 4
hclmcr & Co____ ../Sight.. 4
Lazard
/GO days 4
Frercs ........... .. -IS lg h t.. 4
Merchants’ Bank
J60 days 4
of Canada.-........ ../S ight.. 4
8.3
86/4
83
86
83/4
86/4
83 H HOLI86/4
DAY
83
86/4
83
86/4
83
86
83/4
86/4
83
86/4
83
86
83/4
86/4
83
86
83
86
83
86/4
83
86
83/4
86/4
83
86/4
83
86
83
86
83
86
83
86
83
86/4
82/4
85/4
83
80
83
86/4
83
86
83
86
83
86
83
86
83
86/4
82/4
85/4
83
86
83
86/4
83
86
83
86
83
86
83
86
83
86/4
82/4
85/4
83
86
The market closed on Friday at 4 82@4 8225 for
00 days, 4 85@4 8510 for demand and 4 8545@
4 8550 for cables. Commercial on banks was quoted
at 4 81% @ 4 81% and documents for payment 4 81%
@ 4 81%. Cotton for payment ranged from 4 80% @
4 81, grain for payment from 4 8 1 % @ 4 81%.
The following gives the week's movement of money
to and from the interior by the New York banks.
W eek ending D ec.
30 1910.
Gold ........... ...............................
Received by
N . Y . B anks.
Sh ipp ed by
Y . B anks.
V.
$7,670,000
2,064,000
$4,528,000 Gain $3,142,000
1.194,000 Gain
870,000
$9,734,000
$5,722,000 Gain 34,012,000
With the Treasury operations the
follows.
W eek ending D ec.
30 1910.
Banks’ Interior movement, as above.
*
Hi
N et Interior
M ovem en t.
result is as
In to
B a n ks.
O ta o f
B a n k s.
39.734.000
27.800.000
$5,722,000 Gain $4,012,000
33.777,000 Loss 5,977,000
$37,534,000
$39,499,000 Loss $1,965,000
N et Change in
B a n k H oldings.
The following table indicates the amount of bullion
in the principal European banks.
1735
D ec.
B a n ks o f
29 1910.
D ec.
30 1909.
Gold.
Silver.
Total.
Gold.
S ilver.
£
£
£
£
£
England. . 31,355.545
France__ 131,176,400
Germany . 36,714,700
Itussla . . 148,082,000
Aus.-Hun 55.133.000
Spain___ 16.418.000
Italy . . . 39.245.000
Neth’lands 10.354.000
5.624.000
Nat.Belg.
Sweden . . 4.473.000
Switz’land 6.260.000
1,785,000
Norway . .
31,355,545 32,628.075
33.044.000 164,220,400 139.814,820
13.602.750 50.317,450 37,327,300
6.190.000 154,272,000 140,890,000
12.040.000 67.173.000 56.487.000
30.782.000 47.200.000 16.114.000
3.500.000 42.745.000 38.480.000
2.057.600 12.411,600 10.081.000
2.762.000 8,286.000 4,226.667
4.473.000 4.468.000
6.260.000 4.984.000
1.785.000 1.777.000
1
Total.
£
32,628,075
35,040,360 174,855.180
11,857,800 49,185,100
7.062.000 147.952,000
12.407.000 68.894.000
30.782.000 46.896.000
3.990.000 42.470.000
2,990,400 13,071,400
2,113,333 6.340.000
4.468.000
4.984.000
1.777.000
Total week 486,520,645 103,978,350)590.498,995 487.277.862 106,242.893 593.520.755
Prev .week 489.033,196 103.884.027j592.917.223 488.925.988 106.850,403 595.776.391
PROSPERITY AND POPULATION.
Both at home and abroad, the lately published com
plete figures of the Census Bureau, on the increase in
population in the United States between 1900 and
1910, have attracted great attention. European
critics in particular, both political and financial, have
laid great stress on the enormous addition to the
national strength, prestige and opportunity shown by
these striking figures. At home, discussion has con
verged more closely on the question just what changes,
if any, in the financial and industrial situation are
foreshadowed by the returns.
The figures in themselves are such as no other modern
State has ever been able to submit. During the past
ten years the population of the United States, ex
cluding the Philippines, has increased 15,977,091 over
1900, the ratio of increase for the period being 21%
and the total population at the present time being
91,972,260. It is noteworthy that the actual increase
for the decade past has been greater by nearly three
millions than the increase in the decade following 1890,
which was 13,046,861. The ratio of increase for that
decade amounted to 20.7%, showing a remarkably
constant forward movement, even on the percentage
basis. Surveying the whole period since 1890, the
spectacle of an increase of 46% in the country's popu
lation during twenty years is, to say the least, a most
impressive sociological and historical phenomenon.
In one respect the figures submitted by the Census
have been not only peculiarly interesting, but some
what perplexing. In .view of the great expansion of
American agricultural production during the decade
past—which has been in some respects the salient
movement of the period—there was natural curiosity
as to what would be the relative showing of movement
of population as between the cities and the rural
districts, the manufacturing States and the agricul
tural States, the East and the West, and, in a general
way, between the consuming communities and the
agricultural producing communities. To test this
matter in the broadest way, in the light of the Census
figures, one may select some typical States of each
description and see what they individually show.
New York, Massachusetts and Pennsylvania will
fairly stand as representative of Eastern States which,
from an agricultural point of view, are consumers
rather than producers, and whose population is metro
politan rather than rural. Of these three States the
decade's increase in population in New York has been
25.4%; in Massachusetts 20%; in Pennsylvania 21.6%,
and the total increase in the three States foots up
something over 3,700,000.
Iowa, Kansas and Nebraska, on the other hand, are
fairly typical of agricultural States. Iowa shows prac
tically no increase in population for the decade; Kansas
ncrcases 15%; Nebraska 11.8%, and the total addi
1736
THE CHRONICLE
tion to population in the three States comes to only
352,000. This is a somewhat startling result; the
inferences from it are hardly modified by such per
centage increase in population as the 45.4% in South
Dakota and the 109.7% in Oklahoma, since both those
States began with a wholly insignificant population
in 1900, so that a large percentage of increase was
made possible on a comparatively small addition to
actual inhabitants.
But if this is the case between agricultural and
metropolitan population, it will be natural to ask
what light it throws on the manifest tendency in certain
agricultural markets for our exportable surplus of
certain products to decrease and for prices on home
markets to go higher. On the face of things, it would
seem that the theory of a diminishing export surplus
would be strongly confirmed by the Census figures.
But such a conclusion must not be too hastily adopted.
In the first place, it has been shown that, somewhat
contrary to the general impression, the average size
of all our annual agricultural crops has increased dur
ing the period at a possibly larger percentage than the
country’s population itself. Furthermore, it must be
remembered that with agriculture one thing is true
which is not true with manufacture— namely, that
expansion of farming area and agricultural output is
possible without an equivalent increase in population.
In other words, the problem of finding or creating
fertile lands, hitherto not available for production, is
the fundamental question rather than the providing of
fresh human energy in a similarly increased ratio.
But, on the other hand, it is altogether probable, and
is, in fact, very largely confirmed by the figures of
total production and home consumption of such staple
crops as wheat, that the average annual consumption
per capita in this country is considerably larger than
it was in the preceding decade. This would operate,
quite as manifestly as an increase in population, more
rapid than increase of production, to restrict or reduce
the surplus of such products available for foreign
markets.
These are some of the more immediate conclusions
from the Census figures. But there arc also certain
larger inferences which have appealed most im
pressively to the minds of foreign critics. In the
first place, this prodigious increase in population, in a
country with such opportunities for employment and
production as the United States, emphasizes greatly
the belief, which had been growing during many pre
ceding years, that the United States is able from
almost any point of view to provide for its own re
quirements. To put the matter in the most striking
way, it may be said that if all the rest of the world
were conceivably to be obliterated from the exchange
of trade, the United States could still provide for its
own absolute necessities in food, clothing and ma
terials. Where the continuous expansion of agri
cultural area has provided for the one set of require
ments, the still more rapid growth of our manufactur
ing cities in plant and population has provided for the
other. So fortunate is the American situation that
oven in such an article as gold it still stands self
supporting.
Nothing like this is true in anywhere near the same
degree in any foreign State. England, for instance,
is wholly dependent on the outside world for an ade
quate supply of grain and for any supply of cotton.
[V O L . L X X X X I.
France must go to the outside world for its cotton and
its copper; Germany for its textile material; Russia for
a very great part of the manufactured goods which it
consumes. This consideration is of fundamental im
portance, not only economically but politically. We
have often been summoned by our Government au
thorities to contemplate the case of the United States
if involved in war with a first-class foreign State.
What we have; shown already, that the United States
could live off its own resources and continue the work
of production, is a consideration of paramount im
portance.
But that is not all. Declaration of war with the
United States by any first-class industrial State ot
Europe, and consequent blockade of international
trade, would inflict on that State, and on all other
European States whose access to our commodities
was impeded, a paralyzing blow. These two considera
tions we have always considered as the normal and
natural defense to our country against a conceivable
attack by foreign Powers. That our acquisition of the
Philippines weakened to some extent this .strong posi
tion must be frankly acknowledged; but in that regard,
at any rate, our recent immense increase in naval
power has safeguarded the United States. Secretary
Dickinson, in his recent alarmist appeal for an enor
mous land armament to protect us against the aggres
sion of foreign States, was careful to ignore such other
fundamental economic considerations as we have just
recited.
There are two perplexing considerations which arise
in studying these Census figures. One of them is,
whether our agricultural production can in the future
keep pace with what seems to be our rate of increase in
population. There are many high authorities who
have warned us that the United States must soon
become an extensive grain importer. This is conceiv
able; but it can hardly yet be admitted as an imminent
source of misgiving, when the question of extending
available agricultural land through irrigation seems
to be all but in its infancy. Even as regards the
highly perplexing question of cotton culture, one may
fairly keep in mind the very remarkable fact that the
South has continued to increase its aggregate output
of that staple despite the very widespread prevalence
of careless farming. What can in the future be
achieved, whether in grain or cotton, through appli
cation of scientific culture, is as yet an unsettled
problem.
The second question has to do with the character of
the immigration which has played so large a part in
this great increase of the country’s population. The
problem has puzzled many minds, during many years
of the country’s history. A ll. sociologists have ob
served and frankly recognized the remarkable manner
in which the real assimilation ol our foreign-born
citizens and their children has progressed. That,
taken as a whole, they become in no very extended
time genuine American citizens, with American in
stincts and American aspirations, is admitted by all
such critics, from Dc Tocqueville to Bryce. That the
assimilation process, in the case first of the Germans
and then of the Swedes, is now nearly complete, is
nowadays a commonplace assumption. The later in
gress of Italians, Russians and Bohemians creates a
more complicated problem; yet observation of what
has happened in the second and third generations of
Deo. 311910.]
THE CHRONICLE
the earlier immigrants gives every reason to believe
that this problem also will be solved in the regular
progress of events.
Within another half decade, the population of the
United States will have passed the 100,000,000 mark.
When one considers the generally homogeneous char
acter of the American population, the immense oppor
tunities for their productive activities and the general
movement toward comfort and prosperity which has
always marked the American community as a whole,
the Census figures may be made a text for the most
hopeful outlook towards the future. As compared
with the 91,900,000 population of the United States
in 1910, Great Britain in its recent Census reported
only 44,500,000; France 39,200,000, and the German
Empire something slightly in excess of 60,000,000.
Our own Continental population exceeds the joint
population of Great Britain and France, and pushes
close on the population of England and the German
Empire combined. This, we fancy, is an aspect of the
case which will impress itself more and more on the
minds of people who measure the actual strength of
one modern State against another, and will add its
weight to the efforts of the American people in behalf
of international peace and arbitration.
THE RATE CONTROVERSY AND BUSINESS.
It is well that it should be recognized that the rail
roads are hard pressed in these days. They suffer in
common with all other persons and corporations, be
cause the cost of supplies of every kind has been largely
increased, and in addition they bear the burden of
increased wages which have been raised through
necessity. In the third place, they are handicapped
by Federal and State regulations and by a multiplicity
of suits, which not only increases the expenses of the
legal department but detracts the attention of officers
and employees, from work which strictly pertains to
the corporation, to the supplying of evidence and testi
mony in many tribunals. There is only one remedy
open to the carriers to lighten the burdens thus im
posed, and that is to enlarge their revenue by means
of increased rates.
.
On account of the uncertainty as to whether the
railroads will be afforded any relief through an ad
vance in rates, the railroads have been unable to adopt
a policy as to expenditures for the coming year. Not
being able to ascertain what revenue may be expected,
the railroad managers do not know what funds will
be available for expenditure, and hence they have not
felt that they could place orders for supplies.
The effect of the delay in obtaining a decision re
garding rates does not stop there. If a railroad is not
going to be able to demonstrate to bankers and in
vestors that its surplus revenue for 1911 will increase
over such revenue for 1910, but may in fact fall below
the revenue for this year, it3 credit will be curtailed
and it will not be able to sell new issues of bonds except
upon such unfavorable terms as are almost prohibitive.
Lacking the proceeds of bond sales, the railroads will
be unable to enter upon the work of making important
improvements or of adding largely to motive power,
cars, bridges, tracks and improved terminals.
This enforced hesitation on the part of the railroad
managers affects a wide industrial sphere, and even
extends down through the wholesale and jobbing trade
to the retail merchants all over that part of the country
1737
covered by the railroads concerned. The protracted
uncertainty produces an unusual degree of caution
among business men and bankers, who hesitate to
make predictions regarding the coming year, which at
its beginning is overshadowed by clouds of doubt.
An adjustment of the rate situation to the satis
faction of the carriers is looked upon as a subject of
more importance to the welfare of the country than
are the decisions in the cases against the Standard Oil
Co. and the American Tobacco Co., which involve a
construction of the Sherman Anti-Trust Act. This
view is taken because the feeling very widely prevails
that the Supreme Court will find a way to overcome
such evils as may exist without hampering business
conducted in legitimate channels. Extreme radical
views expressed in political conventions and during
the excitement of campaigns has thus far not affected
the courts, which remain unsullied. The Supreme
Court has not strayed from safe and sound reasoning,
and there is an abiding faith that its findings in the
important pending cases will not be unsatisfactory
to business interests at large.
All things considered, therefore, so far as human
foresight may penetrate the future, a settlement of the
rate controversy to the satisfaction of the railroad
managers will do much to insure prosperity for the
coming year. So far as the Inter-State Commerce
Commission is concerned, all doubt on this point will
soon be dispelled. The creation of the new Commerce
Court injects an unknown factor which will need to be
reckoned with before the year is over.
JUSTICE BURTON ON JUDICIAL POWERS AND
LIMITATIONS.
To the January issue of the “ North American Re
view” Justice Lurton of the Supreme Court contributes
a 17-page article on the question whether we of this
country are to have a government of law or one of men.
1o the literal question as put all men would give the
same answer; yet there is a visible tendency to strain
against limitations and to applaud those in power
when they do things which please us, or to doubt their
authority if we do not like their acts. Mr. James
Bryce has noted this and has remarked that the multi
tude here no longer fears its rulers, for “ it is itself the
ruler, accustomed to be coaxed and flattered.” Nor
do outcries against Constitutional restraints come only
from those who find them barriers against assaults on
property and contract rights; they come even from the
class who are supposedly sheltered from popular
legislation by the safeguards which many’ voters desire
to sweep away. In proof, Justice Lurton quotes from
a late address by a prominent life insurance man who
is seeking Federal control, as a counsel of despair;
this speaker says that “ cries for Federal control are
the growing pains of a great people.”
The point to which Justice Lurton addresses him
self is this:
“ The contention that the obligation of a Consti
tution is to be disregarded if it stands in the way of
that which is deemed a public advantage, or that a
valid law under the Constitution is to be interpreted
or modified so as to accomplish that which the execu
tive administering it or a court called upon to enforce
it shall deem to the public advantage, is destructive
of the whole theory upon which our American com
monwealths have been founded.”
1738
THE CHRONICLE
Two dogmas, he adds in proof, were universally
accepted when the Union was born and were taken as
fundamental: one was that all power resides in the
people and the government they set up “ was a dele
gated authority limited by the creative act of the peo
ple;” the other was that of distribution of government
between independent departments, as being the best
safeguard against usurpations. “ The idea of an absoTite democracy found no favor whatever,” he says.
The model taken was “ a representative constitutional
democracy,” and the form of republican government
which the Constitution says shall be guaranteed was
the form then existing, “ a form inconsistent with a
pure or absolute democracy.”
In several sharply and compactly written pages
Justice burton shows irrefutably that this separation
and independence of governmental functions has been
deemed fundamental from the beginning— a proposition
which every student of history well knows. Much of
the popular misconception of the scope of judicial
powers, he says, grows out of a misconception of the
power to declare some statute repugnant to the Con
stitution. Were constitutions mere declarations of
principles, akin to party platforms, then the courts
would be without right to test statutes on constitu
tional grounds; but this is not the case. All govern
ments in this country exercise delegated and hence
limited powers; therefore, no legislation beyond dele
gated powers can be enacted or enforced without dis
regard of the supreme will of the people already ex
pressed originally.
We cannot give at length the close argument by
which Justice burton holds that constitutions delegate
limited powers and are themselves primary and su
perior law; next, enactments by legislative bodies are
secondary law, and must needs be tested by the courts
as to a possible conflict with the superior law. In case
of conflict between these, the courts must decide.
“ That the power thus exercised [in deciding] is not
legislative but judicial will be plainly evident if we do
but stop to consider the nature of an American Con
stitution.”
The “ Chronicle” has more than once pointed out
that it is unsafe to enact emotional statutes in a hurry
and assume that the courts will certainly protect us
from their results, since it is not within the function
of a judge to annul a statute merely because he per
ceives it to be unwise or unjust, and, moreover, judges
are human and may weary of this protecting; they may
reason that the best mode of ending foolish legislation
is to let the people have a full taste of its workings.
We find Justice burton saying this same thing in other
language. He discovers in the public press evidence
‘ ‘that there is a large* body of intelligent public opinion”
which regards trimming or modifying as quite within
judicial functions and looks to the courts with confi
dence “ for relief against what they regard as bad or
dangerous legislation.” He gives such hopes not a
word of encouragement. The executive must execute
the law as he finds it; the judge, being without law
making power, has the single duty of applying the law
as he finds it to an existing case; that it is unwise is
for the people to discover by experience of it.
Neither Constitution nor statute, picturesquely
says Justice burton, may be treated by either executive
or judiciary as “ a nose of wax,” to be moulded accord
ing to fancy and occasion. A few sentences impel
quotation by their admirable clearness:
[V O L . LX X XX 1.
“ The courts possess neither the power of taxation
nor that of the sword. They are dependent upon the
legislative power for their existence and upon the
executive for the force needful to enforce their judg
ments. Set in the place of an arbiter between the
branches among which the functions of government
have been parceled, they constitute the balance-wheel
in our unique and splendid governmental system.”
So the article argues powerfully that the legislator
is false to duty if he votes for questionable propositions
because the courts can consider all that.* The tone
and trend of the article throughout are serious and
conservative in the truest sense.
COTTON MANUFACTURING IN JAPAN AND
INDIA .
Japan’s cotton-manufacturing industry made note
worthy progress in both extension of plant and volume
of consumption of the raw material in 1909-10. The
latter fact in particular is calculated to attract atten
tion because it places Japan in the rather unique
position as being practually the only cotton-manufac
turing country that augmented its use of the staple
in the late year.
The activity recently displayed followed a two-year
period of comparative quietness and decline in con
sumption, although at the same time increase in the
spinning and weaving capacity of the mills was unin
terrupted. In fact, during the two years from July 1
1907 to June 30 1909, notwithstanding a further addi
tion to spindles of 21.3%, consumption of the raw ma
terial foil off 2 % % . But in 1909-10 the gain in spin
dles was only 8 % % and the augmentation in consump
tion nearly 20%. To be brief, from a consumption of
900,805 bales of 500 lbs. each in 1906-07 (the record up
to that time), there was a drop to 890,836 bales in
1907-08 and 880,830 bales in 1908-09. In 1909-10,
however, according to the official returns compiled by
the Japan Cotton Spinners’ Association and presented
to-day in our cotton department, a new record in
consumption— 1,055,303 bales—was made.
As regards the sources from which Japan draws its
supply of the raw material, it is perhaps well to note
the continued and increasing supremacy of India.
For a few years down to and including 1906-07, there
had been an important gain in the takings of the Ameri
can staple, although East Indian cotton was most
largely used; but since that time the former has been
much less freely availed of, and absorption of the latter
has very appreciably increased. The main, if not
the sole factor in the matter, has been, of course, the
difference in price. Egyptian cotton has also found
an expanding market in Japan in recent years, mill
takings having increased from 6% million lbs. to 12%
millions in the last three years, and in the last year
Chinese varieties were more freely used.
Concurrent with the extension of its manufacturing
facilities, Japan is becoming a strong competitor with
Europeans in the textile markets of the Far East. In
cotton hosiery in particular its trade has expanded
phenomenally within a few years, and large quantities
of Japanese goods arc to be found in all the markets of
the Far East. In fact, it is reported that India takes
over half the total quantity of hosiery exported from
Japan. Of cotton yarn, too, Japan has become an
important exporter of recent years, the total ship
ments for the ten months ended Aug. 31 1910 having
exceeded those for the same period of 1909 by 10,168,-
Dec. 31 1910.|
THE CHRONICLE
1739
501 yen (a yen is equal to about 50 cents U. S. cur source of supply of the staple, and its cultivation
rency). Moreover, for the same period there was has been quite steadily added to in recent years. This
a gain of 5,075,975 yen in the value of other cotton is true to such an extent that, notwithstanding the
goods exported. Coincidcntly, the imports of cotton expansion in the manufacturing industry,. there has
goods into Japan have fallen off sharply. Cheap ma been a considerable increase in the amount left over
chinery and cheap labor have naturally been the lead and available for export. Thus in 1909-10 the crops,
ing factors that have contributed to the prosperity exclusive of the amount of cotton taken by hand spin
of the cotton-manufacturing industry in Japan. Most ners and weavers (of which no reliable statistics are
of the machinery used follows the American models, obtainable), approximated 3,800,000 bales of 500 lbs.
but, being made in Japan, costs much less than if im net each, or an increase of about 800,000 bales over
ported.
1908-09, and mill consumption in the meantime de
The cotton-manufacturing industry of India, accord creased 136,408 bales. Furthermore, since 1879-80
ing to the official results recently received, also made the crop (excluding takings by hand spinners, <fcc.)
progress in 1909-10 in the direction of extension.of has increased from approximately 1,200,000 bales of
plant, but in the volume of cotton consumed there 500 lbs. each to 3,800,000 bales of like weights, whereas
was, as indicated in our annual cotton review, a mod consumption has advanced only from 241,183 bales
erate decline. At the close of June 1909 the number to 1,517,048 bales. It is to be noted that, due to the
of establishments working or in course of construction high prices for American cotton, special efforts are
was 259, with 6,053,231 spindles and 76,898 looms, making to further stimulate production in India,
,
and employing an average daily force of 236,924 hands.
Consumption for the year, moreover, had been some N E W R A 1L W A YS IN BOLIVIA AN D ARGENTINA
what heavier than in 1907-08, reaching 7,381,500 cwts.,
Bolivia is in a fair way to experience an important
equivalent to 1,653,456 bales of 500 lbs. net weight development of her natural resources within the near
each, and therefore the largest on record. During the future through the railway building that is now
last season (the year ended with June 30 1910) there actively in progress in that country. A little over a
was an increase to 263 in the number of factories, year ago (on Oct. 2 1909) we drew attention to the
spindles advanced to a total of 6,195,671 and looms pressing need of railway extensions to encompass
to 82,725. But, due to slackened demand for goods, that development, and referred to a contract that had
the result of high prices, operations were somewhat been approved and signed on Dec. 1 1908 calling for
curtailed and consequently there was a drop to 233,624 the construction of about 721 miles of road within
in the average number of hands employed daily. Con ten years of that date. At the time we wrote, the line
sumption of the raw material also exhibited a decline, from Viacha to Oruro (138 miles) had been completed,
being officially stated by the Bombay Millowners’ affording, through connection with the Antofagasta
Association as 6,772,535 cwts., equaling 1,517,048 R,y., a line from La Paz to the Pacific seaboard, leaving
bales of 500 lbs. average net weight.
583 miles to be constructed. Work has since pro
As we have frequently pointed out, India is, next to gressed quite rapidly according to a report of the
Europe and the United States, the most important British Consular office at Sucre. That report indi
of the world’s cotton-consuming countries. Never cates that a line is under construction between Potosi
theless, it is only of comparatively late years that and Rio Mulatos (the track being already leveled to
notable expansion in the production of goods by within a few miles of Rio Mulatos), which will give to
machinery has been made. History, of course, ac Potosi, the centre of the largest tin-producing area of
cords to India the distinction of being the birthplace Bolivia, an easy outlet by rail to the port of Antofa
of cotton manufacture, and to this day, as is well gasta, Chili, in less than two years. Furthermore, it is
known, its fine cloths, spun and woven by hand, arc expected that the lowering of freight rates that will
highly prized. But as recently as 1870 there were less follow the opening of this line will stimulate the
than twenty cotton mills in the whole country, and mining of the lower grade tin and copper ores that
most of those in Bombay. Ten years later the number are very abundant in the territory traversed.
had risen to 56, of which 42 were in Bombay. During
A line to connect Tupiza, another centre of an area
the next decade progress was more rapid, the total of great mineral wealth (producing tin, bismuth,
number of establishments in existence in 1890 being antimony and gold), with Uyuni is also under con
137, and in the following ten years there was a further struction, as well as a line from Oruro to Cochabamba,
increase to 193. This brings us down to the last which will tap a rich agricultural section and serve to
decade, during which time 70 factories have been built develop it largely. This line it is proposed to continue
or are in course of construction, leaving the aggregate north to Chamore, a reputed rubber-producing region,
for the whole of India now 263, of which 187 in Bom and afford another outlet for Bolivia through the
bay. Coincidently, consumption, which in 1879-80 Amazon River to the Atlantic. Finally, work is under
stood at only 241,183 bales of 500 lbs. net each, had way on a road from the port of Tacna, Chili, to La Paz
risen to 790,634 bales by 1889-90, advanced further (to be completed in three years), and with its comple
to 1,139,428 bales by 1899-00 and was reported as tion only the linking together of Tupiza and La
1,586,434 bales in 1905-06. From that, then record Quiaca will be required to establish a through line from
total, there was a moderate recession in 1906-07, which Buenos Aires, Argentina, on the Atlantic to Tacna on
was not fully regained in 1907-08. In 1908-09, how the Pacific, and connecting in one way or another with
ever, as shown above, a new record in consumption all the various branches or lines constituting the
was reached, from which 1909-10, for the reason Bolivian railway system. From what has been out
stated, exhibits a moderate decline.
lined above it would seem that progress upon the rail-'
Not only is India prominent as a consumer of cotton, roads that mean so much to Bolivia’s development
but it ranks second only to the United States as a has been more rapid than expected.
T H E C H R O N IC L E
1740
In Argentina, too, railway building is being rapidly
pushed and by 1913 it is expected that two more trans
continental lines will be in operation. The San Antonio-Nahuel Huapi line in the southern part of the
republic is likely to be completed to a point on Lake
Nahucl Huapi bv January 1912 and from thence to
Puert- Montt, the present terminus -of the Chilean
railway system, is a distance of but 70 miles. Work
is, moreover, being rushed on the Great Southern Rail
way system’s line in the Neuquen Territory, and it is
stated only 170 miles remains to be built to reach a
connection with, the Chilean railways. Besides these
roads another trans-Andean line is proposed in the
northern part of the country. It is to extend from
Chilecito, the present railroad terminus in La Rioja
Province, to Vallenar, Chile, passing through territory
reputed to be rich in minerals.
IN T E R E S T
RATES
P A ID
N A T IO N A L A N D
A N D
R E C E IV E D
B Y
OTHER B A N K S.
The*following interesting statement comes to us from the
Treasury Department at Washington:
I n c o n n e c t io n w ith gen eral in fo r m a tio n re la tiv e to th e c o n d it io n o f the
b a n k s o f th e c o u n t r y , th e C o m p tro lle r has m a d e a s u m m a r y o f sp e cia l re
tu rn s b e a rin g u p o n th e rates o f Interest o b ta in e d o n loans an d d is co u n ts
a n d rates o n d e p o s its b y n a tio n a l a n d o th e r b a n k s.
I t app ears th a t th e
a v e r a g e ra te r e c e iv e d b y all b a n k s Is 7 .0 5 % o n tim e loa n s an d 6 .8 7 % on
d e m a n d lo a n s .
N a tio n a l b a n k s secu re 7 .3 3 % o n tim e p ap er and 7 %
o n d e m a n d , w h ile th e S ta te b a n k s a ve ra ge s are 7 .7 3 % an d 7 . 4 0 % , r e s p e c t
i v e ly .
E x c lu d in g p r iv a te b a n k s , w h ich o b ta in s lig h tly In e xcess o f 8 %
o n b o t h tim e an d d e m a n d p a p e r, th e s to c k sa v in g s ban ks secu re th e n e x t
h ig h e s t r a te , n a m e ly , 0 .8 9 % o n tim e and 6 .7 5 % o n d e m a n d p a p e r. T h e
lo a n a n d tru st c o m p a n ie s ’ rates a rc s ta te d a t 6 .6 6 % fo r tim e a n d 6 .4 9 %
fo r d e m a n d loa n s, w h ile th e rates fo r m u tu al sa vin gs ba n k s are 5 .6 2 % o n
tim e a n d 5 .4 5 % o n d e m a n d lo a n s.
I t is a ssu m ed th a t v e r y little d e m a n d
p a p er Is h eld b y m u tu a l sa vin gs b a n k s, b u t th e ra te s ta te d Is b ased u p o n
t h o b a n k s ’ retu rn s.
W h ile a b o u t tw o -th ird s o f th o n a tio n a l ba n k s r e p o r t th a t n o in terest Is
p a id o n d e p o s its s u b je c t t o c h e c k o r on d e m a n d ce rtifica te s o f d e p o s it, th e
p a y m e n t o f Interest o n tim e d e p o s its an d sa vin gs a c c o u n ts Is m o re gen era l.
T h e a v e r a g e ra te a llo w e d b y n a tio n a l ban ks r e p o r tin g th e p a y m e n t o f In
terest o n d e p o s its s u b je c t t o c h e c k Is s ta te d a t 2 .3 5 % a n d o n d e m a n d c e r
tifica te s o f d e p o s it 2 . 8 2 % .
B a n k s o f this class p a y an a v e ra g e ra te o f
3 .5 6 % o n sa vin gs d ep osits an d 3 .6 9 % o n tim e ce rtifica te s o f d e p o s it.
R a te s p a id b y all o th e r classes o f ba n k s a r c slig h tly In e xce ss o f th o s e p a id
b y n a tio n a l b a n k in g a s s o c ia tio n s , th e averages b e in g as fo llo w s :
R ates Charged on
L oa ns & D isc'ts.
C la ssifica tion o f
B a n ks.
R ates P a id on D ep osits.
Subject
to
C h eck .
T im e.
D em an d.
7.0 0
7.49
5.45
6.75
8.02
6.49
2 .3 5
2.62
L o a n & tru st c o s . .
7.33
7.73
5.62
6.89
8 .1 9
6.66
A v c r a g e , all ba n k s
7.05
6.87
M u tu a l s a v i n g s . . .
S to o k s a v in g s -------
C ertfs. o f D ep o sit.
S a vin gs. D em an d.
T im e.
2.82
3.57
3.69
3.92
2*47
2 .8 6
2.38
3.56
3.71
3.92
3.5 6
3.77
3.59
3.23
3.28
3.01
3.87
3.69
2.5 4
3.68
3.18
3.79
C o u p le d w ith th o d a ta r e la tiv e to Interest ra te s, sta te m e n ts w ere s u b
m it t e d a 3 t o th e a m o u n t o f in te re s t p a id t o d e p o s ito r s . T h e in d iv id u a l
d e p o s its In all ban k s o n Ju n e 30 last w e r e ,r o u n d l y ,$ 1 5 ,2 8 3 ,0 0 0 ,0 0 0 , b u t th e
a m o u n t bea rin g Interest Is n o t s h o w n . S ta tistics c o m p ile d b y th e N ation a l
M o n e t a r y C om m ission fo r Ju n e 30 1909 in d ica te , h o w e v e r, th a t 9 0 % o f such
d e p o s its In all ban k s are in te re st b e a rin g .
I t d o e s a p p e a r, h o w e v e r , th a t
d e p o s ito r s w ere p a id o r c r e d ite d d u rin g th e cu rre n t y e a r w ith in terest to
th e a m o u n t o f $ 2 8 5 ,0 3 9 ,7 8 6 8 1 , o r 1 .8 6 % o n th e a ggre ga te a m o u n t to their
c r e d it .
O n a c c o u n ts cla sse d as s a v in g s , th e Interest p a id ag g re g a te d
$ 1 7 8 ,7 2 3 ,3 9 4 82 a n d o n o th e r d e p o sits $10 6 ,3 1 6 ,3 9 1 9 9 . T h e a m o u n t o f
In terest p a id b y each class o f ban k s Is as fo llo w s :
S a v in g s b a n k s ___________________________________________________ $ 1 3 0 ,2 4 2 ,2 4 9 79
L o a n a n d tru st c o m p a n ie s ____________________________________
6 5 ,8 5 0 ,0 2 9 69
N a tio n a l b a n k s _________________ .'______________________________
5 3 ,1 7 5 ,5 3 7 09
S t a t e b a n k s ______________________________________________________
3 4 ,7 8 6 ,5 5 4 79
P r iv a t e b a n k s ___________________________________________________
985 ,4 1 5 45
T h e d eta ils o f th e fo re g o in g in fo r m a tio n c o m p ile d fo r each S ta te a n d each
olass o f b a n k s th erein a p p e a r In th e a p p e n d ix to th e C o m p tr o lle r ’ s cu rre n t
r e p o r t t o C on gress.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO’S.
— The public sales of batik stocks this week aggregate only
29 shares, of which 20 shares were sold at the Stock Exchange
and 9 shares at auction. There were no transactions in
trust company stocks. A sale of 4 shares of Chatham
National Bank stock made this week at 331 was the first
since March 1909, when the quotation was 298.
S n a res. B A N K S — N ew Y o r k .
L ow .
5 A m c r . E x ch a n g e N a t . B a n k . 239
4 C h ath am N ation a l B a n k ____ 331
• 20 C o m m erce, N a t. B a n k o f ___ 193 H
H ig h .
239 H
331
193 M
C lose.
239 M
331
193 H
L a st p revio u s sale.
M a y 1910— 239
M oh . 1909— 298
D e c. 1910— 195
• S o ld a t th o S to o k E x o h a n g c .
— The New York Stock Exchange, which had a three days’
holiday last week, having closed on Saturday in addition to
[V O L . L X X X X I .
Monday, will remain open to-day. It is understood that
the question of suspending operations on this, the closing
day of the year, was not even discussed by tho Governing
Committee.
— A New York Stock Exchange membership was posted
for transfer this week, the consideration being $70,000.
This is $5,000 less than the last previous sale.
— A recommendation for the enactment of a law by Con
gress to enable the Treasury to hold gold bullion and foreign
gold coin in limited amounts as security for gold certificates
is contained in a communication addressed by Secretary
Franklin MacVeagh under date of the 10th inst. to Speaker
Cannon. The letter was referred to the Committee on Ways
and Means on the 15th inst. and ordered printed. Mr. Mac
Veagh points out that the change contemplated in his pro
posal is intended to bring our arrangements in these matters
into line with the policies of other countries, it being the prac
tice among the large financial institutions in the leading
centres of Europe to count as part of their reserves, along
with domestic coins, foreign gold coin and gold bullion.
The plan, he states, would add to the facilities of our great
financial centres as free markets for gold by furnishing a
better opportunity for bankers and dealers in exchange to
secure or dispose of gold bars and foreign gold coin than has
existed heretofore. A copy of his letter is appended here
with:
TR EA SU RY D EPARTM EN T.
O F F IC E O F T H E S E C R E T A R Y .
W ashington. Decem ber 10 1910.
S ir : I h a v e th e h o n o r t o re c o m m e n d fo r th e co n s id e ra tio n o f th e C on
gress a re q u e st fo r a u th o r ity fo r th e T re a su ry t o h o ld g o ld bu llion and
fo re ig n g o ld c o in in lim ite d a m o u n ts as se c u r ity fo r g o ld certificates.
In
th e le a d in g fina ncial cen tres o f E u ro p e th e large ilnanolal in stitu tion s,
s u ch as th e B a n k o f E n g la n d , th e B a n k o f F ra n ce an d th e R c lc h s b a n k .
c o u n t as p art o f th eir reserves, a lo n g w ith th e d o m e s tic co in s , fo re ig n g o ld
c o in an d also g o ld b u llio n , a n d th e ch a n g e co n te m p la te d b y this p ro p os a l
Is In ten d ed t o b rin g o u r a rran gem en ts In these m atters in to line w ith th e
p o licie s o f o th e r c o u n tr ie s . T h e p lan w o u ld a d d t o th o facilities o f ou r
g re a t fin a n cial cen tres as free m ark ets fo r g o ld b y fu rn ish in g a be tte r o p p o r
tu n ity fo r ban kers a n d dealers in e x ch a n g e t o secu re o r disp ose o f g o ld
bars an d fo re ig n g o ld c o in th an has e x is te d h e r e to fo r e . A n o th e r Im p orta n t
a d v a n ta g e , h o w e v e r , lies in th e re d u c tio n o f u n n ecessary c o in a g e op e ra tion s
in o u r m in ts.
D u rin g th e last 20 years th ere has been Im p o rte d in to this c o u n tr y
$ 3 7 9 ,0 0 0 ,0 0 0 In fo re ig n g o ld c o in , an d o f this a m o u n t $ 311 , 000,000 w as
d e p o s ite d at th e m in ts fo r re -c o in a g e .
In th e m e a n tim e , $82 9 ,0 0 0 ,0 0 0 o f
th e U n ite d S ta te s g o ld c o in has b e e n e x p o r te d . T h e $31 1 ,0 0 0 ,0 0 0 o f fo r
eign g o ld c o in w as re -co in e d a t o u r m in ts at th e e x p e n se o f ou r G o v e rn m e n t,
w hile m o re th a n d o u b le th a t a m o u n t o f o u r o w n m o n e y w as e x p o r te d d u r
ing th e sam e p e r io d . T h e co in a g e o f $ 31 1,00 0,0 00 o f fo re ign g o ld c o in in to
A m e rica n c o in m u st h a v e c o s t at least $80 0 ,0 0 0 , o r $40 ,000 per y ear.
W e h a v e n o w so m e $94 0 ,0 0 0 ,0 0 0 In g o ld c o in s to re d a w a y in the va riou s
S u b -T re a su rie s an d m in ts, th e greater part o f w h ich is a reserve a g ain st
g o ld c e rtifica te s th a t In all lik e lih o o d w ill n ever be presen ted fo r re d e m p
tio n In c o in .
In th e m a jo r ity o f cases w here g o ld certifica tes a rc p resen ted
In large qu a n tities fo r r e d e m p tio n . It is fo r th e p u rp o s e o f secu rin g gold bars;
y e t w e c o n tin u e t o c o in each y ear n early $ 1 0 0 ,0 0 0 ,0 0 0 In g o ld , at an ann ual
c o s t o f som e w h e re b etw een $20 0,00 0 an d $ 3 0 0 ,0 0 0 . I f g o ld certifica tes
m ig h t b e Issued again st this g o ld b u llio n , th e m a jo r p a rt o f this c o s t w ou ld
b e s a v e d w ith o u t In a n y w a y Im pairing th e r e d c c m a b lllty o f th e certlA ca tcs,
an d a t th e sam e tim e ban kers an d e x ch a n g e dealers c o u ld b e In a p o s itio n to
secu re b a rs, w h ich th e y p refer fo r p u rp oses o f e x p o r t , w ith greater p r o m p t
ness an d less e x p e n se . In vie w o f th e fa c t th a t A m e rica p ro d u ce s n early
$ 1 0 0 ,0 0 0 ,0 0 0 In g o ld per y e a r, a n d th a t th e In evitable d r ift o f g o ld m u st
b e fro m A m e rica , It Is pe cu lia rly re a so n a b le th a t a co n s id e ra b le p art o f th e
g o ld w h ich w e p r o d u c e sh ou ld n o t b e tra n sfo rm e d at o n ce Into c o in .
T h e p la n co n te m p la te d In th e fo llo w in g -s u g g e s te d bill offers a b u n d a n t
sa fegu a rd s again st th e e x ce ssiv e r e d u c tio n o f th e d e p o sits o f U n ited S tates
g o ld c o in h e ld a g ain st th e certifica tes In req u irin g th a t th e a m o u n t o f g old
b u llio n so h eld shall n o t at a n y tim e e x c e e d o n c -tliir d o f the to ta l a m o u n t
o f g o ld c e rtifica te s at such tim e o u ts ta n d in g , and in p r o v id in g th at th e re
c e ip t o f g o ld b u llio n and fo re ig n g o ld c o in shall alw a y s rem ain at th e d is
cr e tio n o f th e S e cre ta ry o f th e T re a s u ry .
— Reports from Washington state that Comptroller of the
Currency Lawrence O. Murray has issued an order to all
national bank examiners instructing them to insist that
every national bank employ a system of bookkeeping from
which the examiner can readily determine its exact condi
tion. In cases where the true condition of a bank is not
clearly shown by the books, the examiners have received
directions to report that fact by telegraph to tho Comp
troller’s office, and to advise the management that they w
be given thirty days in which to install the necessary books.
The Comptroller further requires that "at tho end of that
period the examiner will return to the bank, at its expense,
for the purpose of determining whether or not compliance
has been made with the instructions, and if upon his return
the necessary books have not been installed, he will remain
in the bank at its expense until such books are installed
under the direction and supervision of the examiner.”
These orders are said to have resulted from conditions
shown in the Quanah National Bank of Quanah, Tex.,
which recently went into voluntary liquidation. An investi
gation of that institution, it is stated, indicated that it had
been doing business for the past two years, "although un
doubtedly insolvent.” It was regularly inspected by na
Deo. 311910.]
T H E C H R O N IC L E
tional bank examiners, but they, it is reported, were unable
to learn its true condition largely because the management
refused to keep a proper record of its transactions.
— In an opinion given to State Comptroller Williams on
the 19th inst., State Attorney-General Edward R. O’Malley
decides that transfers of voting trust certificates from one
holder to another constitute a transfer of the shares of
stock within the meaning of the stock transfer Act, and are
therefore subject to the tax. A copy of his letter bearing
on the subject follows:
A lb a n y . D ecem ber 19 1910.
H o n . Clark W illia m s, State Com ptroller, A lb a n y , N . Y .:
D ear S ir : I a ck n o w le d g e y o u r le tte r o f th e 7th In st., e n c lo s in g c o p y o f
v o t in g tru st agreem en t an d re q u e stin g m y o p in io n as t o w h e th e r th e trans
fers o f v o t in g trust certifica tes u n d er su ch agreem en t fro m o n e h o ld e r t o
a n oth er are s u b je c t t o th e s t o c k tran sfer t a x .
I t app ears fro m this agreem ent th a t the v o t in g trustees “ shall possess,
In resp ect o f a n y and all such s t o c k , an d shall be en title d t o e x e rcis e , all
rig h ts o f e v e r y nam e an d n ature, in clu d in g the rig h t t o v o t e fo r e v e r y p u r
p ose and t o con sen t t o a n y c o r p o r a te a c t ” o f said c o r p o r a t io n . I t also
app ears th a t the holders o f the tru stees’ ce rtifica te s are e n title d t o r e c e iv e
a certificate or certificates o f s to c k o f th e n u m b e r o f shares therein s p e cifie d ,
b u t th at n o such sto ck certificates shall be d u e b e fo re O ct. 1 191 5, n o r u n t il
th e e x p ira tio n o f such fu rth er p e rio d , if a n y , as shall elapse b e fo r e th e
c o r p o r a tio n In qu estion shall h a v e p aid all o f its 6 % first lien n o te s Issued
u n d er a certa in deed o f tru st.
I t Is m y op in ion th a t, n o tw ith s ta n d in g th e rights c o n v e y e d t o th e v o t in g
trustees, a transfer o f th e trust ce rtifica te s still co n s titu te s a tran sfer o f th e
shares o f s to c k w ithin the m ean in g o f th e S to c k T ra n sfe r A c t .
T h e h o ld e r
o f the certificate Is the e q u ita b le o w n e r o f th e shares o f s t o c k re p re se n te d
th e r e b y . A transfer o f th e ce rtifica te transfers su ch ow n e rsh ip t o th e
transferee. I t entitles th e h old er t o th c r e c e lp t o f d iv id e n d s an d t o th e u lti
m ate d e liv e ry o f the shares o f s to c k th e m se lv e s. T h ere Is, th e re fo re , a s u b
stan tial ben eficial Interest In th e s to c k In th e h olders o f such c e rtifica te s
p rior t o th e d e liv e ry t o th e m o f th e shares th e m se lv e s, a n d there Is also the
eq u ita b le ow nersh ip o f th e shares w h ich w ill b e c o m e a b so lu te a fte r such
d e liv e ry .
I t Is th erefore m y o p in io n th a t transfers o f such c e rtifica te s are
s u b je c t t o the ta x .
V e r y t r u ly y o u r s ,
E D W A R D R . O ’M A L L E Y ,
A tto rn ey -G en era l.
— The Boston Stock Exchange has decided to reduce the rate
of commission on mining stocks selling under $10 from 12] /i
cents a share to 6 ) 4 cents per share, thus making the rate on
these stocks conform with that adopted by the New York
Stock Exchange last April. Heretofore the $6 25 rate on
the Boston Exchange has, so the Boston “ Transcript” states,
applied only on stocks selling at from $1 to $5. This change
is said to be the principal one in the commission rates cov
ering mining stocks which will be put into effect by the Boston
Exchange beginning Jan. 3, and which are as follows:
S to c k s selling u n d er $ 1 ...............................................................
$1 per 100 shares
“
’’
a t $1 t o $ 1 0 ........ ............................ .................. 6 25 .....................
“
“
“ $10 and be lo w $300 ...................................12 50 ......................
“
" $300 or o v e r ___________________________25 ce n ts p er share
— B. J. Rhame of Sumter, S. C., has been appointed by
Governor Ansel to succeed Giles L. Wilson, resigned, as State
Bank Examiner of South Carolina. The appointment takes
effect Jan. 10. Mr. Giles resigns to become a National Bank
Examiner. His district will cover South Carolina and
Northern Georgia.
— That work of a comprehensive character is being under
taken by the New York State Bankers’ Association is evi
dent in its announcement of the appointment of several
committees which have been named to further the interests
of the members in matters of a timely and important nature.
Added significance is given to its action in the standing of
those who have accepted appointment on these committees,
which are as follows:
1.
C o m m i t te e
on
le g is la tio n :
P . E . L y fo r d , C h airm an; P res. F irst N a t. B a n k , W a v c r ly , N . Y .
J oh n I I . G regory. V ic e -P r c s. C entral B a n k , R o c h e s te r , N . Y .
L c d y a r d C ogsw ell J r .. V lc c -P r e s. N ew Y o r k S ta te N a t. B a n k , A lb a n y .
Jam es M . G ilbert, T reasurer S yra cu se T ru st C o ., S y ra cu s e , N . Y .
C. A . M iller, Pres. S a v in gs B ank o f U tica , U tica , N . Y .
2.
C o m m i t te e o n E d u c a tio n :
F r e d . I . K e n t, C h airm an; V ic e -P r c s. B ankers T ru st C o ., N ew Y o r k ,
F . W . I ly d e , Cashier N a t. C h au tau qu a C o u n ty B a n k , J a m e s to w n .
J . H . P erkin s, V ic e -P r c s . N ation a l C om m ercia l B a n k , A lb a n y .
3 . C o m m i t te e o n B i l l s o f L a d i n g :
E llio tt C . M oD o u g a l, C h airm an; P res. B ank o f B u ffa lo , B u ffa lo .
L ou is L . Clark, P res. T h e A m e r . E x c li. N a t. B a n k , N ew Y o r k .
S . H . M iller, V Io c-P rcs. Chase N ation a l B ank N ew Y o r k .
*
4.
C o m m i t te e o n T r a n s p o r ta t io n :
Charles E lliot W a rre n . C h airm an; V ic e -P r c s . L in co ln N a tio n a l B a n k .
N ew Y o r k .
H . A . A r n o ld , Cashier F irst N a tion a l B a n k , A lb a n y .
D a v id H . P ierson . Cashier B ank o f the M an h a ttan C o ., N ew Y o r k .
E . S . T c fft , Cashier F irst N a tio n a l B a n k , S y ra cu se .
H ira m R . S m ith , P res. B ank o f R o c k v ille C en tre, R o c k . C en tre, N . Y .
5 . C o m m i t te e o n A r r a n g e m e n t s (1911 C o n v e n t io n ) :
W a lte r H . B en n ett, Ch airm an: V ic e -P r c s . A m e r . E x c h . N a t. B 'k , N . Y .
L c d y a r d C ogsw ell, P res. N ew Y o r k S ta te N a t. B a n k , A lb a n y .
W . E . P u rd y , A s s t. Cashier Chase N a t. B a n k , N ew Y o r k .
J o h n A . K loep fe r, P res. U n io n S to o k Y a rd s B a n k , B u ffa lo .
C h as. N . H arris, Cashier C ity N a tio n a l B a n k , G lo v c r s v lllc .
A . J . P a rson s, Cashier First N ation a l B a n k , B in g h a m to n .
6.
C o m m i t te e o n P r o te c tio n A g a i n s t C r i m i n a l s :
A d d ress th e S ecre ta ry , W . J . H e n r y , 11 P in o S t ., N ew Y o r k . N . Y .
7 . C o m m i t te e o n T r u st C o m p a n i e s a n d S a v i n g s B a n k s :
(T o be a p p o in te d .)
1741
Since the establishment by the New York State Bankers'
Association of headquarters at 11 Pine Street, this city, an in
creased and general interest in the workings of the organiza
tion has become manifest throughout the State.
— The newly elected officers of Group VI. of the New York
State Bankers’ Association, which have just been made
public, are: Chairman, Samuel R. Bell, Cashier of the Larchmont National Bank; Secretary and Treasurer, Benjamin
E. Smythe, Cashier ,of the Gramatan National Bank of
Bronxville.
— An announcement in the Topeka “ Capital” states that
Bank Commissioner Dolley of Kansas has decided that na
tional banks holding deposits for State institutions must
submit to examinations by the State Banking Department,
and in addition pay for such examinations. The national
banks have been notified of this decision, and in case of re
fusal to submit to abide by the ruling, their authority to
serve as reserve agent will be revoked. The letter which
Mr. Dolley issues says:
To any B a n k Addressed:
M a n y S ta te b a n k s o f this S ta te a rc u sin g n a tio n a l ban k s as d e p o s ito r ie s
fo r their fu n d s .
I deem It Im p o r ta n t t o th e Interests o f th e .d e p o s itin g p u b
lic o f this S ta te t o b e In to u c h w ith th e d e p o s ito rie s o f o u r b a n k s, a n d h a v e ,
th e re fo re , co n c lu d e d th a t such d e p o s ito r y ba n k s w ill b e re q u ire d t o s u b m it
t o an e x a m in a tio n b y th e C o m m ission er o r d e p u tie s o f this d e p a r t m e n t ,
and th a t a n y ba n k s de clin in g t o b e so e x a m in e d w ill b e d is a p p r o v e d as r e
serve agents fo r K ansas S ta te b a n k s.
In p u rs u a n ce o f this d e c is io n , y o u
are h e r e b y n o tifie d th at y o u w ill b e re q u ire d t o s u b m it t o an e x a m in a tio n
b y th e C om m ission er or his de p u tie s a t least o n c e ea ch y e a r, th e c o s t o f said
e x a m in a tio n to b e p aid b y y o u r b a n k a t th e usual fe e ch a rg e d S ta te b a n k s
fo r e x a m in a tio n .
V e r y tr u ly y o u r s ,
J . N . D O L L E Y , B a n k C o m m ission er.
— At a meeting this week of the directors of the Inter
national Banking Corporation, Edwin Hawley was elected a
Vice-President and II. T. S. Green General Manager. Mr.
Green was for many years in the service of the Hong Kong
& Shanghai Banking Corporation and later with the London
Paris & American Bank of San Francisco.
— Joseph B. Martindale, Vice-President of the Chemical
National Bank of this city, was elected President of the insti
tution on Wednesday, to succeed William II. Porter, who
resigns to become a member of the firm of J. P. Morgan &
Co. Herbert K. Twitched, heretofore Assistant Cashier of
the bank, has been appointed Mr. Martindale’s successor
as Vice-President. The promotion of Mr. Martindale, who
is still under fifty years of age (he was born in 1SG2), to the
highest position in the bank comes after thirty-two jmars of
labor in its behalf. While he entered its employ as a junior
clerk in 1878, his advancement has been most marked
during the past eight years. In December 1902 ho was
raised from the position of credit clerk to an assistant cashiership and served in the latter office until January 1907, when
he was made Vice-President and a director.
He has a most
agreeable personality and is favorably regarded in banking
circles. Mr. Twitched, who succeeds Mr. Martindale as
Vice-President, became associated with the Chemical four
years ago as Assistant Cashier, having previously been with
the Chase National in a similar capacity.
— The closing this week of the Northern Bank of New York,
representing a consolidation effected in 1908 of the Northern
Bank, the Hamilton Bank and the Riverside Bank, besides
involving the Title & Guarantee Co. of Rochester, the Aetna
Indemnity Co. of Hartford, carries with it the suspension
of the Washington Savings Bank of this city, which latter
the Banking Department took charge of on Thursday. Tho
Northern Bank, which, besides its main office at 215 West
125th Street, has nine branches in Manhattan and tho
Bronx, was closed on Tuesday by State Superintendent of
Banks O. H. Cheney, who issued the following statement
with regard to his ’action:
“ T h e S u p erin ten d en t o f B anks th is m o rn in g t o o k possession o f the
N o rth e rn B a n k o f N ew Y o r k , th e m ain o ffic e o f w h ich Is lo c a te d a t 215
W e s t 125th S tre e t, w ith n ine bra n ch es situ a ted at va rio u s p o in ts th r o u g h o u t
th e c it y .
“ T h e B a n k in g D e p a rtm e n t has been c o n d u c tin g a n e x a m in a tio n o f t b ls in
s titu tio n fo r several d a y s , a n d . b ecau se o f d is c o v e re d c o n d itio n s a n d also
ce rta in Irregular tra n sa ctio n s th a t h a v e ta k en p la ce d u rin g th e tim e th o
e x a m in a tio n has been In progress, th e S u p e rin te n d e n t o f B a n k s d e e m e d It
n ecessary t o ta k e possession fo r the p r o te c tio n o f th e d e p o s ito r s.
“ T h e S u p e rin te n d e n t has a p p o in te d A r b a K . A lfo r d , an e x a m in er In tlio
D e p a rtm e n t, S p ecial D e p u ty S u p e rin te n d e n t o f B a n ks, as a g e n t t o assist
him In th e liq u id a tio n .
“ T h is In stitu tion has a ca p ita l o f $70 0 ,0 0 0 an d a b o o k surplus at th e tim e
o f Its last p u b lish e d s ta te m e n t, N o v . 10 1910, o f $ 1 8 5,96 5 11. I t s d ep osits
a t th a t tim e w ere $ 6 ,912,582 62.
“ N o fu rth er sta te m e n t will be m a d e until a c o m p le te In v e n to r y o f the
assets Is o b ta in e d .
O . H . C H E N E Y .”
From a statement emanating from New York State
Superintendent of Insurance W. H. Hotchkiss, the closing
of the bank appears to have resulted from the operations of
Joseph G. Robin, who is understood to own controlling inter
T H E C H R O N IC LE
1742
est in the Northern Bank, and to have been Chairman of its
Executive Committee. These transactions have been
brought to light through an examination by the New York
and Connecticut insurance departments of the Aetna In
demnity Co. which was begun on the 16th inst. A detailed
statement of disclosures which have followed is made public
by Mr. Hotchkiss, in which he deals with a recital of the
methods employed by Mr. Robin to effect the purchase of the
Title & Guarantee Co. of Rochester from the Aetna Indem
nity Co., which, Mr. Hotchkiss points out, is a Connecticut
corporation in no way related to the Aetna Life Insurance
Co. Mr. Hotchkiss announces that while the examination is
still incomplete, it has progressed sufficiently to warrant the
statement of the facts he recites. In his statement he alludes
to Mr. Robin’s interests, and states that, save for the
Northern Bank, “ he appears not to be an officer of any
of these institutions, his control or influence being exercised
through one or more confidential representatives. Such
control seems, however, to be absolute, and his connection
with most of these corporations such that they and their
assets are practically his property, subject to use as he may
see fit.” These connections are summarized as follows:
J osep h G . R o b in w as in M arch last th e co n tr o llin g s to c k h o ld e r o f th e
A e tn a In d e m n ity C o. an d a p p a r e n tly o f th e N orth ern B a n k o f N ew Y o r k ,
lo ca te d a t 215 W est 125th S tr e e t.
. . . l i e also largely c o n tro lle d the
B a n k ers’ R e a lt y & S e c u r ity C o ., a re a lty c o r p o r a tio n h e a v ily in terested In
B r o n x lands; th e F id e lity D e v e lo p m e n t C o. (th e o w n e r o f th e o ld M orris
P a rk r a c e -t r a c k ), an d th e S o u th S h ore T r a c tio n C o . an d th e B a b y lo n
R a ilr o a d C o ., t w o L o n g Isla n d tr a c tio n c o r p o r a tio n s .
With regard to the Title & Guarantee Co. of Rochester, the
purchase of which by Mr. Robin has called into question
certain of his transactions relative thereto, Mr. Hotchkiss
states that while the company is authorized to do a fidelity
and guaranty business, it had for some time been dormant,
certain litigated matters preventing its dissolution. A lease
of its title plant to a Rochester abstract company, he states,
“ produced an income, which in addition to its other assets
gave this stockholding a value of $168,500 out of the total
assets of the Aetna Co. of approximately $1,000,000. In his
statement bearing on the acquisition of the Title & Guarantee
Co. by Mr. Robin, the following facts are furnished by
Mr. Hotchkiss:
C o in cid en t w ith an Increase in th e ca p ita l s to o k o f th e A e tn a I n d e m n ity
last sp rin g , R o b in seem s t o h a v e o p e n e d n e g o tia tio n s fo r th e pu rch ase
fro m It o f Its ow n ersh ip o f th e R o c h e s te r c o m p a n y . A b o u t th e sam e tim e
b o th c o m p a n ie s e le cte d n ew o ffice rs, fo rm e r S u p e rin te n d e n t K e ls e y b e c o m
in g P resid en t o f b o th , a n d A n th o n y S tu m p f a n d W illia m V . L o m a x , t w o
rep resen ta tives o f R o b in , b e c o m in g r e s p e c tiv e ly
V ic o -P r c sld c n t
an d
S e c r e ta r y . T h e e le ctio n o f these gen tlem en seem s t o h a v e be e n o n M arch 28
1010. A t th e sam e tim e a re s o lu tio n w as passed d ir e ctin g th e re m o v a l o f
the o ffic e , re co rd s an d assets o f th e R o c h e s te r c o m p a n y t o N ew Y o r k , and
o n M arch 30 o r 31 Charles W . D a y , th e c o m p a n y ’s T reasu rer, b ro u g h t th em
t o th e o ffic e o f th e A e tn a I n d e m n ity C o ., a n d later d e liv e re d th em t o
S tu m p f In R o b in ’s o ffic e . T h e re a fte r th in gs h a p p e n e d , th e co n n e c te d
s t o r y Of w h ich seem s, p rio r t o th e presen t in v e s tig a tio n , to h a v e b e e n
k n o w n o n ly t o R o b in an d his co n fid e n tia l m e n .
I t a p p ears th a t s h o r tly p rio r t o this tim e R o b in , as o n e o f th e w itnesses
s a y s , had s ta ted th a t he w o u ld p u rch ase fro m th e A e tn a the s to c k o f th e
T it le & G u aran tee C o. O n th e stre n g th o f this s ta te m e n t o r p r o p o s itio n
— fo r there w as n o c o n t r a c t until O cto b e r 1910— th e assets o f th e R o c h e s
ter c o m p a n y w ere tu rn ed o v e r t o h im o n M arch 31, a p p a r e n tly b y V iceP rcs ld on t S tu m p f an d S ec r e ta r y L o m a x , an d w ith their assista n ce, w ith o u t
th e k n ow led g e o f P resid en t K e ls e y o r th e o th e r o ffic e r s o f th e tw o in te r e s te d
Insurance co m p a n ie s , d isp o se d o f and m a n ip u la te d as R o b in d ir e cte d .
T h e o n ly a u th o r ity fo r tra n sa ctio n s w h ich h a v e g r e a tly d e p le te d th e
assets o f th e R o c h e s te r c o m p a n y seem s t o h a v e been R o b in ’ s ord e rs and
a tw o -y e a r -o ld r esolu tion o f th a t c o m p a n y ’s b o a r d p assed u n d er a n o th e r
m a n a g em en t. A ft e r M arch 28 th e T itle & G u arantee C o .’s b o a rd h ad b u t
one- m eetin g , th a t in O c t o b e r , t o de cla re a d iv id e n d . S tu m p f an d L o m a x
m ade n o r e p o r t a t th a t m e e tin g o f w h a t th e y h ad been d o in g .
In d e e d th e
presen t In q u iry w as ba sed o n a fa lsifica tion o f th e A e tn a I n d e m n it y ’ s
p a s s -b o o k in th e N orth ern B a n k . T h e m a n ip u la tio n o f th e R o c h e s te r
c o m p a n y ’ s assets w as n o t th e n k n o w n o u tsid e th e in n er c ircle o f the R o b in
c o te rie .
T h e d a y th e secu rities o f th e R o c h e s te r c o m p a n y w ere p u t in R o b in 's
sa fe; o r th e d a y fo llo w in g , he " e x c h a n g e d ” a $47 ,0 0 0 c e rtifica te o f N ew Y o r k
C ity c o r p o r a te s t o c k fo r " b o n d s ” o f th e S o u th S h o re T r a c tio n C o ., n o t
th e n Issued, a n d w h ich , so fa r as th e r e c o rd sh ow s, w ere e v id e n ce d o n ly b y
a s o m e w h a t m y th ica l d u e bill, u n til D e c . 21, an d th e n o n ly b y a t y p e
w ritten in terim c e r tific a te , th e v a lu e o r v a lid it y o f w h ich Is still p r o b le m
a tica l. T h o $47 ,0 0 0 N ew Y o r k c o r p o r a te s to o k seem s, h o w e v e r, to h a v e
p assed t o th o S o u th S h ore T r a c tio n C o ., a n d n o w t o be h e ld b y th e C o m p
troller o f th e C ity o f N ew Y o r k as s e cu rity fo r su ch c o m p a n y ’ s o b lig a tio n s
to th o c it y .
In a d d itio n , a cash ba la n ce o f fro m $10 ,000 t o $15 ,0 0 0 was
u sed an d g o o d m ortg a g es d isp o se d o f , a n d thus an e x ch a n g e fo r a b o u t
$ 5 0 ,0 0 0 o f th e “ b o n d s ” o f th e B a b y lo n R a ilr o a d C o ., an o ld h o rse -ca r line
th en b e in g o r sin ce electrifie d , a c c o m p lis h e d , w ith sim ilar tre a tm e n t as to
d u e bill a n d in terim c e r tific a te . N e e d in g m o re m o n e y , h o w e v e r, R o b in
ca u sed S tu m p f a n d L o m a x t o e x e c u te th e R o c h e s te r c o m p a n y ’s n o te fo r
$ 5 0 ,0 0 0 , ca u sed It t o bo d is c o u n te d In h is, th o N o rth e rn B a n k , an d th en
sole! t o the Insurance c o m p a n y fo r the p ro ce e d s $ 50 ,000 w orth o f the s to c k
o f his F id e lity D e v e lo p m e n t C o . A ll this an d m o re o f the sam e so rt,
th o u g h In sm aller a m o u n t, b e fo re he paid a do lla r fo r the s to c k h o ld in g o f
th o R o c h e s te r c o m p a n y , an d w ith o u t th e d ir e cto r s o f th at c o m p a n y , s a v e
S tu m p f and L o m a x , k n ow in g w h at w as g o in g o n .
A s a r esu lt, w h en the present In v e stig a tio n be ga n , in ste a d o f assets
c o n s istin g o f a p p r o x im a te ly $ 1 8 0 ,
a n d p r a c tic a lly n o liab ilities, th e
T it le & G u arantee C o . o f R o c h e s te r n o w ow es $50 ,0 0 0 an d has against it
b esid es “ b o n d s " an d s t o c k in the R o b in co n c e r n s , w h ose va lu e Is p r o b le m
a tica l, a p p r o x im a te ly $ 1 0 5 ,0 0 0 , a net sh rin k a ge , th e $ 50 ,000 n o te bein g
co n s id e r e d , o f a b o u t $ 1 2 5 .0 0 0 ,^ u c h ’shrln kage3to be r e d u c e d , o f co u r s e ,J b y
(too
(jV O L . L X X X X I .
th e u ltim a te retu rn fro m th e R o b in s ecu rities. T h e R o c h e s te r c o m p a n y ’s
a c c o u n t has also b e e n used in k itin g tra n sa ctio n s o n a large sca le , w ith o u t
loss, h o w e v e r , so far as h as y e t b e e n d e v e lo p e d . F o r tu n a te ly , th e R o c h e s te r
c o m p a n y Is n o t a c tiv e ly In business and th e Interests o f p o lic y -h o ld e r s are
n o t a ffe c te d . S u ch a c o m p a n y as an asset o f th e A e tn a I n d e m n ity Is,
h o w e v e r , m u ch less v a lu a b le .
B u t R o b in ’s o p e ra tio n s In th e N o rth e rn B a n k w h en seek in g t o c a r r y o u t
a c o n t r a c t fo r th e p u rch a se o f th e R o ch e s te r c o m p a n y , w h ich , it seem s, w as
a c tu a lly m a d e last O cto b e r , aro m ore sta rtlin g an d c u lp a b le . A g a in there
w as an e x c h a n g e . R o b in 's B a n k ers’ R e a lt y & S e c u r ity C o . a b o u t O c t . 25
1910 g iv in g th e A e tn a its c h e c k fo r $50 ,000 as p a rt p a y m e n t fo r th e R o c h e s
te r c o m p a n y ’ s s to c k h o ld in g , a n d th e A e tn a g iv in g th e B a n k e rs’ R e a lt y its
c h e c k fo r $50 ,0 0 0 in p a y m e n t fo r a b o u t $50 ,000 w o rth o f th e B a b y lo n
R a ilr o a d C o . “ b o n d s .”
F o r th e last unretu rn ed ch e ck th e A e tn a r e c e iv e d
n o th in g u n til the n igh t o f D e c. 17, w hen d e m a n d w as m a d e at th e Instance
o f th e N ew Y o r k d e p a rtm e n t, a n d a " d u e b ill” fo r th e b o n d s , sig n e d , n o t
b y th e B a n k ers’ R e a lt y & S e c u r ity C o ., t o w h ich th e A e t n a ’ s c h e c k w as
p a y a b le , b u t b y J . G . R o b in , w as fu rn ish e d . T h e va lu e o r v a lid ity o f this
as an asset o f th e A e tn a is th o u g h t d o u b tfu l.
I t a p p e a rs, h o w e v e r , th a t
d u rin g th e se v e n w eeks w h ich in te rv e n e d be tw e e n th e d a te o f th e A e tn a ’ s
ch e ck an d the d e liv e ry o f th e d u e bill, P resid en t K e ls e y an d his associa tes
m a d e re p e a te d efforts t o g e t th e b o n d s, o r a p a p e r e n titlin g th eir c o m p a n y
t o th em w hen Issu ed. T h ere is so m e e v id e n c e th a t R o b in assured th em
or their co u n s e l, fo rm e r S e n a to r L e x o w , th a t It w as all rig h t, as th e A e t n a ’ s
c h e c k h ad n o t been u sed . I t had been u sed, h o w e v e r, on N o v . 5.
T h e o th e r $50 ,000 c h e c k — th a t g iv e n to th e A e tn a as p a rt p a y m e n t fo r
th e R o c h e s te r c o m p a n y — h a d an In terestin g h is to ry .
It w as d e p o s ite d in
th e N o rth e rn B a n k , th ro u g h V ice -P re s id e n t B row er o f th a t In stitu tio n , on
O ct. 25, an d cr e d it g iv e n In th e A e tn a ’ s p a s s -b o o k th a t d a y .
N o tw ith
sta n d in g th is, it w as, a p p a r e n tly o n R o b in ’s ord ers, h eld In th e ban k for
c o lle c tio n (th o u g h on a b ra n ch ban k o f the N orth ern lo ca te d In N ew Y o r k
C ity) until D e c. 9 an d th en tak en u p , retu rn ed t o the B a n k ers’ R e a lt y &
S e c u r ity C o . an d ca n c e le d , p re s u m a b ly n o d e b it th e re fo r a g ain st su ch
c o m p a n y ’s a c c o u n t h a v in g be e n m a d e m ean w h ile.
T h e Interesting fa c t, h o w e v e r , Is th a t th e A e t n a ’ s p a s s -b o o k , w h ich on
O c t . 25 sh o w e d a d e p o s it cre d it o f $ 5 0 ,0 0 0 , w hen re tu rn e d a fter the N o v . 1
bala n cin g, sh o w e d n o such c r e d it o n th a t or a n y o th e r d a y , a n d n o w has
o n ly e leven h a lf-p a ge s th erein in stead o f tw e lv e as in th e o th e r p a s s -b o o k s
o f this b a n k .
R e m e m b e rin g th a t th e A e t n a ’ s c h e c k t o th e B a n k ers’ R e a lt y w as n o t
d e p o s ite d o n O ct. 25, as e x p e c t e d , it w ill be seen th a t in sp ite o f th e h o ld in g
o f th e $50 ,000 c h e c k " f o r c o lle c t io n ” the A e t n a ’s b a la n c e rem ain ed as It
sh o u ld h a v e been u n til N o v . 5. O n th a t d a y , h o w e v e r, R o b in needed
m o n e y in c o n n e c tio n w ith his railroad e n terprises. H e n ce to m ake th e
A e tn a ’ s a c c o u n t g o o d (w ith o u t th e “ fo r c o lle c t io n ” c h e c k , it w as b u t a b o u t
$ 3 0 ,0 0 0 ), R o b in b o rro w e d $27 ,000 fro m th e b an k th ro u gh M orris, Ills
co n fid e n tia l m a n , u sin g co lla te ra l w h ich he seem s t o h a v e a c q u ir e d fro m th e
A e tn a , an d then d e p o s ite d th e la s t-m e n tio n e d su m t o th e A e t n a ’s c r e d it in
th o b a n k . T h e $ 50 ,000 c h e c k g iv e n the B a n k ers’ R e a lt y fo r th e B a b y lo n
b o n d s w as th en p u t th ro u gh an d R o b in , w ith o u t th e k n o w le d g e o f the
A e t n a ’s o ffice rs, had thus b o r r o w e d $ 50 ,000 o f the A e t n a ’ s m o n e y — fo r such
tim e as he co u ld h o ld th e o th e r $ 50 ,000 ch e ck in the ban k “ fo r c o lle c t io n .”
T h u s m atters re ste d u n til th e im p o rtu n ity o f th e A e tn a fo r the $50 ,000
c r e d it in its p a s s -b o o k — the la tte r n o w be in g In th e b a n k ’s possession
an d “ t o be a tte n d e d t o s o o n ” w h e n e v e r asked fo r — fo rc e d a n o th e r m o v e .
W ith o u t th e k n o w le d g e o f th e A e t n a ’s o ffice rs R o b in 's m an M orris on
D e c. 9 d ep o site d t o th e cr e d it o f th e A e t n a in th e ban k a B a n k e rs’ R e a lt y
& S e c u r ity C o . c h e c k fo r $7,000 an d left w ith the ban k again " f o r c o lle c t io n ”
R o b in ’ s p erson al c h e c k fo r $ 4 3 ,0 0 0 , also d a te d D e c. 9, th e $50 ,000 h eld “ fo r
c o lle c t io n ” ch e e k o f O ct. 25 be in g th en re tu rn e d t o M orris and ca n c e le d .
T h e p a s s -b o o k w as th en fu rth er c h a n g e d , In th e b a ck o f th e b o o k , tw o
" c o lle c t io n ” entries, on e as o f O c t . 25 fo r $43 ,0 0 0 an d th o o th e r as o f th o
sam e d a te fo r $7,0 0 0 bein g m a d e .
I t has n o t y e t b e e n a scertain ed w h o
m a d e these en tries, b u t o n th e s ta te m e n t th at th e t w o " c o lle c t io n ” ch eck s
w ere c e rta in ly n o t In ex iste n ce u n til D e c . 9 th e a d m issio n b y M orris
R o b in ’s co n fid e n tia l m a n , th a t tho en tries w ere “ fa k e s” seem s ju s tifie d .
E v e r sin ce th e in v e stig a tio n began , R o b in , C h airm an o f th e F in a n ce
C o m m itte e , has been sick in his ap a rtm e n ts in N ew Y o r k , an d B row er,
V ice -P r e s id e n t, at his h ouse in N ew J e r s e y .
H e n ce , w h o Is re sp o n sib le for
th e a b o v e tra n sa ctio n s, w h ich c o v e r a p e rio d d u rin g w hich a regular
B a n k in g D e p a rtm e n t call fo r sw orn sta te m e n ts o f c o n d it io n w as m a d e ,
has n o t y e t been a s ce rta in e d .
B u t on D e c . 9 R o b in still h ad $ 43 ,000 o f th e A e t n a ’ s m o n e y , " b o r r o w e d "
w ith o u t Its k n o w le d g e . T h e e x a m in a tio n b egan o n th o 16tli and a d e p a rt
m en tal d e m a n d fo r th e m issing p a s s -b o o k m a d e lon ger c o n c e a lm e n t o f
m an ip u la tio n Im p ossible. T h e n this Interesting tra n s a ctio n to o k p la ce;
R o b in t o o k his $ 43 ,000 n o te up at th e N o rth e rn B a n k b y d ra ft o n th o
C arnegie T ru st C o ., w here he h ad n o a c c o u n t , an d g iv in g such c o m p a n y , so
th e e v id e n ce is, his n o te an d a m p le c o lla te ra l, m e t th e d r a ft first g iv e n b y
a n o th e r o n th e A tla n tic N a tio n a l B a n k o f P r o v id e n c e (o f w h ich E d w a r d P ,
M etca lf, a d ir e cto r o f the A e tn a , Is P r e s id e n t), w here also he h a d n o a c c o u n t .
T h e S ta te and n ation al b a n k in g d e p a rtm e n ts w ere in fo r m e d o f this tran sac
tio n a p p a re n tly in tim e t o s to p It. R o b in ’s d r a ft o n P r o v id e n c e w as p ro
te ste d , an d the C arnegie T r u s t C o . has his n o te an d c o lla te r a l.
H is secret
d e b t t o th e A e tn a w as thus p a id .
A s a co n s e q u e n ce o f these tra n s a ctio n s, h o w e v e r , th e D e p a rtm en t
o rd e re d all fu n d s o f the A e tn a and th e R o c h e s te r c o m p a n y w ith d ra w n fro m
th e N orth ern B a n k an d its b ra n ch , the R iv e rs id e B a n k , and p la c e d tho fa c ts
b e fo re the B a n k in g D e p a r tm e n t. A s s o o n as th o re c o rd Is fu lly tra n s crib ed
it w ill be p la ce d at th e disposal o f tho D istrict A t t o r n e y .
The Northern Bank was established in 1888. Its main
office until the consolidation wit h the Hamilton and Riverside
banks was at 692 Broadway; since the consolidation in
June 1908 the headquarters have been on West 125th Street,
where the Hamilton had its main location. The Hamilton
Bank was one of the institutions which closed during the
1907 panic (on Oct. 24 1907) and its re-opening under a
deferred-payment plan occurred on Jan. 20 1908, just a few
months prior to the consolidation. The bank had until
Nov. 20 1908 in which to free the entire deposits,.but it was
.announced that the final restriction with respect to the
withdrawal of deposits was removed at the time of the
merger. The consolidated bank had a capital of $700,000
and under the call of Nov. 10 last reported deposits of
$6,912,682. The city has a deposit of $200,218 in the
institution, of which $150,000 is said to be secured by
a bond of the National Surety Company. Frank L.
Duo. .11 1910.)
1'IIE C H R O N IC L E
Grant had been President of the bank since the consoli
dation. Mr. Robin, whose name is said to have been
changed from Robinovitch, entered the financial field about
fourteen years ago, his first venture, it is stated, having been
with building and loan associations. Later he became
affiliated with the Washington Savings Bank, this connec
tion, it is reported, leading to his becoming interested, with
the Heinzes and with E. R. and (). F. Thomas, in the River
side Bank, this last connection finally resulting in his
becoming associated with the Northern Bank. It is stated
that negotiations had recently been pending for the acquisi
tion of the Northern by James G. Cannon, President of the
Fourth National Bank, but that these proceedings were
terminated when these developments became known.
The Washington Savings Bank, at 50th Street and Colum
bus Circle, of which Mr. Robin was President, decided on
Wednesday to avail of the sixty-day withdrawal notice from
depositors, owing to the fear of a run; on Thursday, how
ever, the Banking Department announced that it had
assumed charge of the institution, “ pending a further
examination into its condition,” which, it was stated,
“seemed necessary by reason of its relationship to the
Northern Bank.” Its deposits were reported as $1,410,206
at the time of its July statement to the Banking Department.
An indictment returned on Thursday by the Grand Jury
against Robin is said to charge the larceny of $80,000 from
the Washington Savings Bank.
— Resolutions on the death of Arthur H. Hearn, one o^
the directors of the Pacific Bank of this city, were adopted
by the directors of that institution on Tuesday. Mr. Hearn,
who was a member of the dry goods firm of James A. Hearn
& Son, died suddenly on Christmas Day. He was fortynine years of age.
— A profit-sharing system in the interest of employees
somewhat out of the ordinary among banking institutions
has been adopted by the People’s Trust Co. of Brooklyn.
In the past the company has been accustomed to distribute
a certain amount in cash among its employees at Christmas
time, this usually representing a certain percentage of their
annual salaries. In the opinion of the company the purpose
of this distribution should be to encourage saving, and the
conclusion has therefore been reached that the interests
of the company and its employees would best be served by
a plan which would help the employees to become stock
holders of the company. For this reason, the present year,
instead of distributing cash, it has been decided to set aside
an amount equal to 10% of the employees’ annual salaries,
and to invest this in stock of the company and divide it
among the employees.
— The First National Bank of Brooklyn has declared an
extra dividend of 2% in addition to the regular quarterly
distribution of 2%, both payable Jan. 3 1911.
— State Bank Commissioner Vivian M. Lewis of New Jersey >
who last August temporarily withheld his approval of the
application to organize the American Trust Co. of Morris
town, N. J., has finally approved the request of the organ
izers, and a charter for the institution was granted on the
22d inst. With regard to his previous action, Mr. Lewis
was quoted as stating that, while he was satisfied that the
incorporators were men having the respect and confidence of
the people of Morristown, lie failed to find any lack of banking
facilities in the community. Mr. Lewis, it was said, was also
of the. opinion that the demand for the company’s organiza
tion had its inception from outside interests and not among
local people, and it was his conviction that such demand
should come from within rather than from without the com
munity.. The conditions to which he took exception having,
according to the Newark “ News,” since been removed, and
evidence having been furnished that there does exist a gen
uine public demand for the company, Mr. Lewis in further
consideration of the matter, consented to its incorporation.
Charlton A. Itecd, former Mayor of Morristown, is one of the
incorporators, among whom are also George C. Smith,
Charles R. Combs, Lewis C. Tompkins, Edson J.'Neighbour,
Frank Dufford, Charles R. Whitehead, George C. Reeve,
John V. Wise, Edward M. Young, David S. Brink, A. Hay
ward McAlpin, Martin It. Ililderbrant Jr., Walter A. Young
and Eugene Carrell.
— With the payment on the 23d inst. of a quarterly divi
dend of 3%%, the First National Bank of Paterson, N. J.,
has paid out 112 dividends to its stockholders, amounting
to $2,039,500 since organization. The capital stock is
$500,000; surplus and profits $665,050. Edward T. Bell
P resident and Whitfield N. Smith, Cashier.
1743
— The National Commercial Bank of Albany, one of the
largest reserve banks in the State outside of New York City,
has now total deposits of over twenty millions of dollars— in
exact figures $20,310,143 (Nov. 10 1910), this comparing
with $19,535,395 on Sept. 1. Aggregate resources are re
ported at $24,017,670. The institution, which is headed by
Robert C. Pruyn, lias a capital of $1,000,030, surplus of
$1,500,000 and undivided profits of $208,827. In the bank’s
management Mr. Pruyn has the assistance of John E. Walker
and James II. Perkins, Vice-Presidents; Edward J. Hussey,
Cashier, and Walter W. Batchelder and Jacob II. Herzog,
Assistant Cashiers.
— Ira F. Harris, Cashier of the Indian Head National Bank
of Nashua, N. H., has had compiled in book form a most
delightful account of his trip as delegate to the last annual
convention of the American Bankers’ Association held in
Los Angeles. • The booklet is well named “ A Royal Round
from Ocean to Ocean,” as from a perusal of the book we
gather that, the bankers who were fortunate enough to
travel on the “ train dc luxe” provided by the New York
Central Lines were given a royal time during the entire trip.
Each place visited en route is mentioned in order, and in
many cases very interesting statistics regarding the place
are given. All in all, the book makes interesting reading,
and particularly so to those who were co-travelers with
Mr. Harris.
— The National Shawmut Bank of Boston, which has been
paying dividends of 10% per annum since Oct. 1908, has in
creased the rate to 12% per annum in the declaration of a
3% dividend with its present quarterly distribution. Prior
to the adoption of the 10% rate, the bank had paid 8% for
several years, the stock having been placed on that basis in
Jan. 1906, when it was raised from 6%. The institution has
a capital of $3,500,000 and surplus and profits in the neigh
borhood of $5,360,000.
— Lloyd A. Frost has resigned as Trust Officer of the Inter
national Trust Co. of Boston, having been elected Secretary
and Director of the Shawmut Commercial Paper Co., 716 Old
South Building, Boston. Mr. Frost assumes his new duties
on Jan. 2.
— T. Coleman du Pont, President of the E. I. du Pont de
Nemours Powder Co., has been elected a director of the
Fourth Street National Bank of Philadelphia.
— A merger of the Third National Bank of Baltimore and
the National Bank of Baltimore was effected this week, the
enlarged National Bank of Baltimore, which is the name of
the continuing institution, having commenced business under
new auspices on Thursday. Early this month announcement
was made of the ofTer by Middcndorf, Williams & Co. of
$150 per share for the stock of the National Bank of Balti
more, the firm, it was stated, having acted in behalf of the
Third National Bank, in which it acquired a large interest
during the summer. Not less than S,100 shares of stock of
the National Bank of Baltimore (capital $1,210,700) were
solicited at the offer named, and it is understood that con
siderably more than that number have been taken over by
the new interests. James L. McLane retires as President
of the National Bank of Baltimore and T. Roland Thomas,
who was President of the Third National, has been elected
President of the new National Bank of Baltimore, the direc
torate of which now consists of Mr. Thomas, It. Lancaster
Williams, of Middcndorf, Williams & Co., William Lanahan,
Louis F. Young, W. B. Duke, John Hinckley and Nathan
It. Gorter. It is stated that the membership of the board
will be increased to twenty-five at the stockholders’ meeting
in January, when the present directors of the Third National
will be added to the board. The Third National will also
formally be placed in voluntary liquidation next month.
— The daintiest Christmas card of many which came to our
editorial offices last week is that of the Mellon National Bank
of Pittsburgh, Pa. A water-color reminiscent of the season
adorns the cover with this pretty sentiment embossed in
gold letters: “ Happy days, and many.” The folded
page inside has in relief the coat-of-arms of this banking
institution and the simple inscription: “ Mellon National
Bank-—with Christmas greetings and sincere good wishes for
a happy and prosperous new year.” The card was made in
England and is in such good taste as a printed example of
bank advertising that comment on it seems appropriate.
— A new trial has been granted to James N. Huston,
formerly United States Treasurer, who, with Harvey M.
Lewis and Everett Du Four, was recently convicted of con
spiracy to use the mails to defraud in connection with the
AN D
E X P O R T S FOR N O V E M B E R .
F O R E IG N T R A D E M OVEM ENT OF T H E U N ITE D STATES.
(In the following tables three ciphers (000) are In all cases om itted.)
-------------------- 1910--------------------------------------------- 1909--------------------Exports. Imports.
Excess.
Exports. Imports.
Excess.
Merchandise.
i
l
l
S
S
$
January-March . . . 412,678
426,788 — 14,110
422,056
355,105 + 66,951
April-June......... __ 392,082
372,636 + 19.4 1 6
365.917
362,893
+ 3 ,0 2 4
J u l y ......... __.......... 114,627
117,316
— 2,089
109,337
112,488
— 3,151
A u gu st___________ 134,660
138,358
— 3,092
109,752
117,094
— 7,342
Septem ber.............. 168,874
117,235 + 5 1 ,0 3 )
153,963
121,015 + 3 2 ,9 4 8
O c t o b e r __________ 207,709
123,046
+ 84,003
200,097
127,073 + 73,024
N o v e m b e r.............. 206,355
130,301
+ 75,9 9 4
193,999
140,509 + 53,490
Total.................... 1,636,991 1,425,770 + 211,221
Qold and Qold in Ore.
J a n u a ry -M a rch ...
10,910
9,508
+ 1 ,3 4 8
April-June..............
38,001
9,820 + 28,781
J u ly .........................
829
10,283
—9,154
A u gust....................
3,150
12,819
—9,609
1,822
3,192
— 1,370
Septem ber..............
O c t o b e r ..................
750
4,250
—3,5 0 0
N o v e m b e r..............
1,376
4,314
— 2,938
Total....................
Silver and Silver In
J a n u a ry -M a rch ...
AprllM une..............
July...........................
A u gu st....................
Septem ber..............
O c t o b e r ..................
N o v e m b e r..............
57,444
Ore.
13,640
13,415
5,121
4,756
4.830
4,269
5,260
T otal....................
51,300
+ Excess of exports.
1,555,721 1,336,777 + 218,944
37,979
25,850
16,002
9,230
7,540
9,379
15,649
12,158 + 25,821
7,977 + 17,8 7 9
3,270 + 13,392
5,349
+ 3 ,8 8 1
2,351 + 5 ,1 9 5
7,034
+ 2 ,3 4 5
3,861 + 11,785
54,240
+ 3 ,1 9 8
122,301
42,003
+ 80,298
11,398
10,503
3,795
4,120
3,442
3,395
4,827
+ 2 ,2 4 2
+ 2 ,9 1 2
+ 1 ,3 2 9
+636
+ 1 , 88
+874
+439
14,474
14,886
5,049
4,495
4,385
4,051
4,951
10,453
12,419
3,910
3,191
3,261
4,019
4,695
+ 4 ,0 2 1
+ 2 ,4 0 7
+ 1 ,1 3 3
+ 1,3 04
+ 1,1 2 4
4-5
+256
41,984
+ 10,310
44,480
+ 9 ,8 2 0
— Excess of imports.
52,294
We subjoin the totals for merchandise, gold and silver for
eleven months since January 1 for six years:
Merchandise.
Eleven
Months.
Exports.
1 9 1 0 ...
1 9 0 9 ...
1 9 0 8 ...
1 9 0 7 ...
1 9 0 6 ...
1 9 0 5 ...
Imports.
%
1,636,991
1,555,721
1,564,005
1,716,306
1,607,843
1,427,252
Excess
EXof
Exports ports.
$
%
1,425,770 211,221
1,336,777 218,944
1,004,454 559,551
1,330,928 385,378
1,186,152 421,691
1,078,002 349,250
$
57,444
122,301
73,858
54,211
44,828
44,126
a old.
Silver.
Excess
ExImOf
ports. Exports ports.
Excess
Imof
ports. Exports
$
54,246
42,003
45,124
98,948
147,902
46,205
S
3,198
80,298
28,734
*44,738
*103134
*2,139
$
51,300
52,294
47,112
57,212
53,552
49,317
$
41,480
41,984
37,815
41,690
40,229
31,240
$
9,820
10,310
9,297
15,522
13,323
18,071
* Excess of Imports.
Similar totals for the five months since July 1 for six years
make the following exhibit:
____
Merchandise.
Five
Months.
1 9 1 0 ...
1 9 0 9 ...
1 9 0 8 ...
1 9 0 7 ...
1 9 0 6 ...
1 9 0 5 ...
Gold.
Silver.
Excess
ExImof
ports. Exports ports.
Excess
Imof
ports. Exports
Exports.
Imports.
Excess
E x0/
Exports ports.
S
832,231
767,748
686,207
775,856
750,001
686,283
%
627,346
618,779
482,002
579,649
548,792
488,060
$
S
S
S
S
204,885 7,927 34,855 *26,928 24,246
148,969 58,366 21,808 26,498] 22,935
204,205 20,340 18,716
1,024 21,597
196,207 17,910 77,481 ♦59,571 27,993
201,209 13,218 85,421 *72,206 20,115
198,223 4,294 29,655 *25,301 24,230
$
19,578
19,113
16,073
19,295
16,552
16,073
S
4,060
3,822
4,924
8,098
3,563
8,163
* Excess of Imports.
In these tables of totals, gold and silver in ore for all years
are given under the heads respectively of gold and silver.
The following shows the merchandise balance for each year
back to 1875:
.
EXCESS OF M ERCH AN DISE IM PO RTS O R E X P O R T S.
11 months ending Nov. 30—
5 months ending Nov. 30—
Imports $18,784,617
1875
________ Exports $2,920,595 1875 ............
1876
...............Exports 72,837,042 1876 ..........................Exports 122,900,825
1877
...............Exports 62,208,577 1877 ..........................Exports 100,104,990
1878
________Exports 113,848,888 1878 ______________ Exports 209,514,539
1879
...............Exports 115,243,370 1879 ..........................Exports 230,279,987
1880
...............Exports 110,198.223 1880 ..........................Exports 141,361,717
1 8 8 1 ............................Exports 45,015,673 1881 ......................... Exports 143,615,639
1882
.....
Exports 21,109,792 1882 ..........................Imports 18,327,238
1883
Exports 40,434,414 1883 ..........................Exports 86,517,'33
1884
...
Exports 00,175,571 1884 ......................... Exports 70.931,406
1885
.............. Exports 23,005,236 1885 ......................... Exports 78,318,929
1886
...............Exports 21,814,348 1886 ......................... Exports 20,835,610
1887
Exports 12,454,370 1887 ......................... Imports 14.635,757
1888
Exports 2.754.283 1888 ..........................Imports 58,821,017
1889
...............Exports 50,236,712 1889 ..........................Exports 19.581,456
1890
________Exports 15,176,704 1890 ..........................Imports 3,644,599
1891
Exports 104,962.401 1891 ..........................Exports 91,700,830
1892
__
Exports 27,044.831 1892 ..........................Exports 75,070,203
1893
...............Exports 125,618,387 1893 ......................L E xp o rts 65,172,031
1894
...............Exports 57,561,820 1894 ..........................Exports 126,047,892
1895.............................Imports 2,402,240 1895 ..........................Imports 7.137,281
1896
...............Exports 191,095,979 1896 ........... - .......... Exports 266,052,419
1897
...............Exports 240.003,919 1897 ......................... Exports 283,566,818
1898
...............Exports 242,589,604 1898 ......................... Exports 537,870,363
1899
.............. Exports 219,392,017 1899 ......................... Exports 423,966,371
Exports 571,603.736
1900
.............. Exports 298,988,044 1900 .....
1901
.............. Exports 239,532,104 1901 ......................... Exports 527,943.082
1902
.............. Exports 155,879,020 1902 ......................... Exports 337,733,647
1903
...............Exports 207,300,824 1903 ......................... Exports 392,207,824
1904
...............Exports 201,334,500 1904 .................’...E x p o r t s 306,723,050
1905
...............Exports 198,222,935 1905 .................. ...E x p o r t s 349,250,524
1906
Exports 201,208,247 1900..............................Exports 421,691,045
1907
...............Exports 190,207,184 1907 ..........................Exports 385,378,373
1908
............... Exports 204,204.057 1908 .........................E xports 559,551,015
1 9 0 9 .-......................-.E x p o r ts 148,908,573 1909 ................ ....E x p o r t s 218,944,451
1910________________ Exports 204,885.210 1910 ..........................Exports 211,220,457
.
It is said that the object in holding the meeting so far in
advance of the customary time is to draft a proposed
amendment to the State banking law for the better regulation
of financial institutions, so that the intended measure may
be presented to the Legislature at its coming session.
— The Fidelity Trust Co. of Tacoma (the oldest trust com
pany in the State of Washington) shows a marked increase
during the past year in its resources, which have advanced
from $3,804,208 on Nov. 16 1909 to $4,260,791 on Nov. 10
last. Deposits are reported in the new statement at $3,
314,164. This institution is enjoying all the advantages of
its newly remodeled building, which, with its safe deposit
vaults, &c., make it one of the most complete in the State.
John S. Baker is President, J. C. Ainsworth and P. C.
Kauffman, Vice-Presidents; Arthur G. Prichard, Cashier,
and George E. Dixon, Assistant Cashier.
— The Commercial Bank of Vancouver, at Vancouver,
Wash., closed its doors on the 19th inst., and is in charge of
State Bank Examiner J. L. Mohundro. The suspension
is said to be due to large investments in realty and the
bank’s inability to realize immediately on its securities.
The bank was organized in 1888. It has a capital of $25,000,
and its deposits are reported in the Portland “ Oregonian” as
$397,818.
— The Bank of Nova Scotia (head office Halifax), which
several months ago increased its authorized capital from
$3,000,000 to $5,000,000, has decided to increase its paid-in
capital from $3,000,000 to $4,000,000. The subscription
price, it is stated, has been fixed at $268 per share, and the
present shareholders are to be given the right to subscribe
in proportion to their existing holdings.
— An amalgamation of the United Empire Bank of Canada
(head office Toronto) and the Union Bank of Canada (head
office Quebec) has been approved by the directors of the two
institutions. It is stated that the Union Bank will take over
all the assets and liabilities of the United Empire Bank,
which was organized in 1906 and has about twenty branches,
all in Ontario, with an office in London. The United Empire
Bank had a paid-in capital of $559,523 on Nov. 30 1910,
when deposits were $2,280,228. The Union Bank has a
paid-in capital of $4,000,000; its Nov. 30 statement showed
a reserve account of $2,400,000, deposits (interest-bearing
and non-interest-bearing) of $37,409,682, and aggregate
assets of $47,455,827. At the annual meeting of the stock
holders on Dec. 17 action was taken towards increasing the
authorized capital of the institution from $4,000,000 to
$8,000,000. The Union Bank has about 200 branches.
— Van Oss & Co., of The Hague, Holland, announce the
liquidation of its affairs of date Dec. 31 and the formation
IM P O R T S
The Bureau of Statistics at Washington has issued the
statement of the country's foreign trade for November, and
from it and previous statements we have prepared the fol
lowing interesting summaries:
*
.
M on tgom ery, A laba m a , D ecem ber 22 1911.
F in a n cia l C h ron icle, Neu> Y o r k , N . Y
G entlem en: P lease a n n o u n c e t o y o u r readers th a t th e n in eteen th ann ual
c o n v e n t io n o f th e A la b a m a H ankers’ A s s o c ia tio n w ill be h eld In M o n tg o m e r y
o n J a n . 18 an d 19 1911. in ste a d o f In M a y as h e r e to fo r e , an d w ill be the
gu ests o f th e ban ks c o m p o s in g th e M o n tg o m e r y C le a rin g-H o u se A s s o c ia
tio n . T h is c h a n g e In d ates d o e s n o t a llo w us s u fficie n t tim e In w h ich t o
sen d w ritte n in v ita tio n s to each o f ou r large n u m b e r o f frien d s an d ban k
co r re s p o n d e n ts , a n d w e use this m e th o d t o c o r d ia lly in v ite th e m , or th eir
re p re s e n ta tiv e s , t o be present o n th a t o c c a s io n .
T h e re w ill be a b a n q u et at the E x ch a n g e H o te l o n th e n ig h t o f th e 18th,
a n d in terestin g business discu ssion s d u rin g o th e r h ours o f th e session .
E x ch a n g e N a tion a l B a n k, F irst N ation a l B a n k , F o u rth N a tio n a l B a n k ,
M o n tg o m e r y B ank & T ru st C o ., N ew F a rle y N a tio n a l B a n k , S u lliv a n
B a n k & T r u s t C o ., U n ion B a n k & T ru st C o .— M em bers o f M o n tg o m e r y
C lea rin g -H ou se A s s o c ia tio n — M ichael C o d y , P re s id e n t.
.
LXXXXI
of an organization which will take over the business hitherto
conducted by the firm, to be known as Van Oss & Co.’s
Bank. The latter has been registered under Dutch law with
a share capital of fl. 1,200,000, of which fl. 600,000 fully
paid up, have been subscribed. Messrs. S. F. van Oss,
A. M. van Oss and J. Leopold will be managers and Messrs.
H. Paap and P. Meyer will have authority to sign “ per pro.”
.
operations of the National Trust Co. of Washington. The
request for a new trial was granted by Justice Wright, who
felt that the evidence did not clearly establish that Mr.
Huston knew of the false representations alleged to have
been made.
— John J. P. Odell, formerly President of the American
Bankers’ Association and also formerly head of the Union
National Bank of Chicago, which was merged in the First
National Bank, died on the 26th inst. at Boulder, Colo.,
where he had made his home for several years past. Mr.
Odell was born in Eastport, Maine, sixty-three years ago
He located in Chicago in 1865, a year later, entering the em
ploy of the Union National Bank as bookkeeper, and finally
advancing to its presidency in 1890. He was President of
the American Bankers’ Association in 1894.
— The Alabama Bankers’ Association will depart from its
usual custom of meeting in annual session in May, and
will hold its nineteenth annual convention the coming month
— on Jan. 18 and 19. The bankers will be the guests of the
banks composing the Montgomery Clearing-House Associa
tion. Michael Cody, President of that Association, advises
us of these facts in the following communication, which we
print for the benefit of those interested who may not already
be cognizant of the change:
(jVOL.
T H E C H R O N IC L E
-
1744
Deo. 311910.)
T H E C H R O N IC LE
J J & o tte ta r iji ® o m m c v d
u g lis t x | J jc t t r s
English Financial Markets— Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London,
Week ending Dec. 30.
Sal.
M on.
Silver, p e r o z . . . . ................d . 25
____
Consols, new, 2 % percents. - 79%
For account________ ____ - 79 %
French rentes (In Paris)_.fr - 97.17% 97.15
Amalgamated Copper C o__ - 64%
b Anaconda Mining C o......... - 8
Atch. Topeka A Santa F e . . .103)4
Preferred .......................... .106
Baltimore A O h io ............... -108%
Preferred ______ ________
Canadian Pacific_______
-198%
Chesapeake A O hio_______ - 82%
Chicago Great W estern____ - 22%
Chicago MUw. A St. Paul . .125%
Denver A Rio Grande......... - 29%
Preferred ______________ - 72%
E r i e ......................................... - 28%
First preferred-........... .. - 47%
Second preferred_______ . 30
M
Illinois Central____________ _ l.'iO
Louisville A Nashville. — .148
Missouri Kansas A Texas. - - 32%
p
Preferred ----------- ---------Nat. R R . of Mex., 1st pref. _
Second preferred.............
N. Y. Central Hud. River .115%
N. Y . Ontario A W estern .. . 42
o
Norfolk A W estern .. ------ 103
Preferred _____ _________
Northern Pacific....................
a Pennsylvania...................... - 66%
a Reading C o_____________ - 77
a First preferred.......... ..
a Second preferred...........
Southern Pacific______ ____ 117
Southern R y . ......... ............ .. - 26%
P r e fe r r e d ............... .......... . 64
Union Pacific_______ _
-174%
Preferred ___________
- 94%
U. S. Steel Corporation . . . - 74%
P r e fe r r e d ....... .......... ........ 120%
Wabash ....................
. 17
Preferred .......................... - 35%
Extended 4s......................
Tues.
;
Wed. Thurs.
Fri.
24 15-16 24 15-16 25 1-16
79 5
79%
79%
79 9-16 79 7-16 79%
97.01
97.10
97.05
65%
63%
63%
8
8
8
104%
104
103%
106
106
106
108%
107%
107%
93
93
93
200%
200%
198%
82%
83%
82%
22%
22%
21%
126
125%
127 %
29%
29%
29%
70
71%
71%
28%
27%
28%
47%
47%
48
35%
35%
35%
136
136
136
147%
148
148%
32%
32%
33
65
65
65
71
70
71
35%
35%
36%
114%
115%
115
42
42
42%
103
103
104
91
91
91
118%
119%
120
66
66
66%
76%
78
77%
46%
46
47%
48
47%
48%
119%
116
117%
27
26%
26%
62%
63%
63
173%
175
176%
96
95
95
75%
74%
73%
120%
120%
120%
17
16%
16%
34%
34%
35%
65
66
66
1745
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
D i v i d e n d s a n n o u n c e d th is w e e k a re p r i n t e d i n it a lic s .
Railroads (Steam ).
Alabama Great Southern, p r e f _________
Albany A Susquehanna, guaranteed
Special ..................................... ..............
Allegheny A Western, guaranteed . " " J ”
Atch. Top. A Santa Fe, pref. (N o 25)
Ulantlc Coast (due r r
o mmon
"*
Balt. Chesapeake A Atlantic, pref......... I
Beech Creek, guaranteed (q u a r.)______ ~
Belvidere Delaware (annual) _____
Boston A Alnany (qu ar.)______
Boston A Lowell.......................... . I I I I I I "
Boston A Maine, com . (q u a r.)__
Boston A Providence, guar. ( q u a r .)I I I ”
Boston Revere Beach A Lynn___________
Canada Southern.......................
’ *” *
Canadian Pacific, com . (quar.) (N o ."5 8 )"
>*
Common (extra)......... ................................
<*
Carthage Watertown A Sackell's Harbor. . .
a
E x tr a ................................................. ..........
Central of New Jersey (qu ar.)......... ..........
n
Chesapeake A Ohio (qu ar.)........................
w
Chicago A Alton, preferred.........................
Prior lien and participating stock.........
Chicago Burlington A Quincy (qu ar.)___
Chicago A Eastern Illinois, pref. (q u a r.).
Chicago A North Western, com m on____
Preferred (quar. ) ............... .......................
Chic. R . I. A Pacific R y. (qu ar.)..............
Chicago A Western Indiana (quar.).........
Clove. CIn. Chic. A St. L ., pref. ( q u a r .)..
Cleveland A Marietta (annual) ......... ..........
Colorado A Southern, com m on................
Cuba Railroad, preferred_______________
Delaware Lack. A Western (guar.)_______
Delaware Railroad...................... ...................
Denver A Rio Grande, preferred...............
Detroit A Mackinac, common (No. 1 ) ..
Preferred
........................ ........ .................
East Pennsylvania......... ...... .........................
Georgia Railroad A Banking (q u a r .)____
Great Northern (quar.)............................ ......
Harris!). Portsm. Mt. J. A Lancaster____
Hocking Valley, com m on.............................
Interborough
Ranld Transit (quar ) ____
a Price per share. £ b sterling.
Kansas City Southern, pref. (qu ar.).........
Lake Shore A Michigan Southern_______
Guar, stock (Mich. So. A N o. In d .)._
Lehigh Valley, com m on...............................
Preferred ______________
_
Little Schuylkill Nav. R R . A Coai...........
Louisville Bridge........................ .....................
National Banks.
Louisville A Nashville_______ ___________
Mahoning Coal R R ., com m on....... ............
4
Preferred (gu a ra n te e d )........... ..............
Maine Central (quar.)________ _________ _
C H A R T E R S IS S U E D T O N A T I O N A L B A N K S ]D E C . 15 T O D E C . 2 0 .
Manhattan R y., guar, (quar.) (No. 107)Mlchlgan Central_______________________
9 .9 0 4 — T h e C a liforn ia N ation a l B ank o f S an ta A n a , Cal. C apital, $ 10 0,00 0.
Mine Hill A Schuylkill H aven___________
J oh n C u b b o n , P re s.; A u g u stu s J . V ise l, V lc e -P r c s .; W m . F . L u tz ,
Morris A Essex, guaranteed_____________
Cashier.
9 .9 0 5 —
T h e A n ltn o r e N ation a l B a n k , A r d m o r e , P a . C a pital, $50 ,0 0 0N.
. Y . Central A Hudson River (qu ar.)__
N. Y . A Harlem, common and preferred
F ra n k K . M iller, P re s.; II. W ilso n M o o rh o u se , F irst V Ice -P re s .;
N. Y . Lack. A Western, guar, (qu ar.)__
C. A . D a h lstrom , S e co n d V lc e -P r e s .; A . VV. H e ck e r, Cashier.
N. Y . New Haven A Hartford (quar.)___
9 .9 0 6 — T h e C itizen s' N ation a l B a n k o f Q u an ah , T e x . C a pital, $5 0 ,0 0 0 .
Part paid stock, Issue of Dec. 20 190 9..
S . p . B ritt, P re s.; R a lp h F . H u gh es, Cashier.
Norfolk A Western, pref. (qu ar.)................
9 .9 0 7 — T h e F irst N a tio n a l B a n k o f E n g le w o o d , C o lo .
C a p it a l,'$ 2 5 ,0 0 0 .
Northern Central (No. 92)...........................
F . N . B riggs, P res.; G eo. F . H iggin s, V Ic e -P r e s .; A . E . F ergu son ,
Cashier.
(C on version o f T h e A ra p a h o e S ta te B a n k o f E n g le w o o d ). Northern Pacific (guar.)...............................
Northern R R . of New Hampshire (quar.)
9 .9 0 8 — S to c k Y a rd s N ational B ank o f S o u th O m a h a, N e b . C a pital, $ 7 5 0 ,
Northern Securities____________ _____ ___
000 .
II. C. B o s tw ic k , P re s.; E . F . F o ld a an d F . W . C larke, V ic e
Norwich A Worcester, pref. (qu ar.)_____
P residen ts; J ._ C . French,'gC ashter.
Old Colony (qu ar.).......................................
E X P IR A T IO N OF C H A R T E R .
Pennsylvania Company_______ __________
4 ,4 9 1 — T h e F irst’ N a tio n a l] B a n k o f T Ic o n d e r o g a , N . Y .,J e x p Ire d b y lim ita
Philadelphia Baltimore A W ashington___
tio n a t c los e o f business D e c. 16 1910.
■
Philadelphia A Trenton (qu ar.)__________
Pitts. Cin. Chic. A St. L., com. A pf. (qu.)
Ft. W . A Chic., reg. guar. (q u a r.)..
Canadian Bank Clearings.— The clearings for the wock e. d Pitts.
Special guaranteed (quar.)........................
ing Dec. 24 at Canadian cities, in comparison with the same Piltsb. McKeesport A Youghiogheny, guar.
Reading, com m on__________ ___________
week of 1909, shows an increase in the aggregate of 8 .0 % .
Rensselaer A Saratoga.................................
Rich. Fred. A Pot., com . A dlv. obllg’ns.
Borne
A Clinton.............................................
Weeklending December 24.
St. Louis A San Francisco—
Clearings at—
Chic. A East. III. com . stk. tr. c t fs ..
Inc. or
Preferred stock trust ctfs. (q u a r .)..
1910.
1909.
Dec.
1908.
1907.
IC C .Ft.S AM.pref. stk. tr. ctfs.(quar.)
__
ffl
Commercial and
vscellaurmis JTcurs
— The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
Canada—
M ontreal----------Toronto ..............
Winnipeg..............
V ancouver..........
O tt a w a ________
Q uebec..................
H a lifa x ................
Hamilton..............
C a lga ry ................
St. John------------L o n d o n ------------Victoria ----------E d m onton--------B r a n d o n _______
L eth b rid g e_____
S ask atoon...........
Total Canada.
$
'
S
%
40.850.495
45,396,358 — 10.0
33,424,380
26,579,740 + 25.8
23,490,407
20.799,463 + 12.9
10,109.162
7,924,243 + 27.6
4,096.306
3,776,479
+ 8.5
2,973,468
+ 4.8
2,838,498
1,598,629
1,856,043 — 13.9
2,189,092
1,679,026 + 3 0 .4
3,082,993
2.783,665 + 32.3
1,513,355
1,622,414
— 6.7
1,397,001
1,309,350
+ 6.7
1,943,026 + 3 3 .2
2,588,345
1,114,313 + 76,0
1,901,295
1,062,425 + 16.4
1,236,419
629,681 Not Included In total
621,292 Not Included In total
1,013,522 Not Included In total
S
35,140,249
23,500,000
17,505,353
4,400,017
2,900,248
2.202,786
1,636,405
1,390,706
1,822,651
1.403,972
992,319
1,158,736
1,108,704
S
25,113,749
18,777,632
11,917,778
3,500.000
2,702,969
1,737,700
1,435,107
1,419,953
1,236,061
1,007,714
1,076,309
1,053,890
589,389
+ 8.6
95,162,146
71.568,251
131,111,847
120,685,043
Auction Sales.— Among other securities, the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian II. Muller & Son:
Stocks.
5 Amer. Exch. Nat. Bank___239%
4 Chatham National Hank
331
27 Utica Steam A .Mohawk Val
ley Cotton Mills.......
165J4
20 Ostrander Fire Brick Co )$21
75 Trlplcr LIq. Air C o .,$10 ea. I lot.
12,000 Colville Min. A Smelt. Co $20 lot.
135 First Nat. Bank of Point
Rock, T e x ........... ............ $20 lot.
499 Miller Mining C o------------- $50 lot.
900 United Copper Co. pref____ 8
20 Aeolian-Webcr Plano & Pi
anola Co. pref...................... 87
114tOrrCo. pref., $10 each .__$7 lot.
9.38,Orr Co., com ., $10 each ___$7 lot.
HOO.Northwest. Commercial C o. 61
Bonds.
$1,000 No. Car. Spec. Tax Bond
t U. S. T r. Co. Ccrtf. of D e p o sit.. $5
Bonds.
$3,000 Montana Coal & Coke Co. 1st
6s, 1920, J. A D ........... ................ $30
$10,000 Standard Milling Co. 5s,
1930, M. A N ........................ 87% A lnt.
$3,000 Chic. & East. 111. IUt. Co.
1st ext. 6s, 1931, J. A D ____124 A lnt.
$3,000 Bud. U. A P. H R ., Lincoln
Pk. & Charlotte 1st 5s, 1939,
J. & J - - - ...............................111% A lnt
$10,000 Sturtyvant Realty Co. 3d
M. b o n d s ......................................$50 lot.
$670,000 Nat. Telcph. Corp. 5s,1959 6
39,000 United Trac. & Elec. Co.,
Prov. A Paw. Issue 1st 5s, 1933
M. A S ................................ 104*4 A lnt.
$17,500 Bristol Gas A Elce. Co. 1st
M. 5s, 1939....................................... 40
Books Closed.
Days Inclusive.
Name o f Company.
St. Louis Southwestern, preferred......... ..
Southern Pacific Co. (quar.) (No. 17)____
Toledo St. Louis A Western, pref. (quar.)
Union Pacific, common (quar.).................
United N. J. R R . A Canal Co., gu. (qu.)
Valley Railroad (N. Y .), guaranteed____
Vermont Valley....................................... ......
White Pass A Yukon.................................
Wrlghtsvllle A Tennllle, com . A pref____
Worcester Nashua A Rochester__________
Street and Electric Railways.
Amer. Cities R y. A Lt., com . (N o. 4 ) ____
Common (extra)...................... ...................
Preferred (quar.) (N o. 18)......................
Athens (Ga.) R y. A Electric Co., pref__
Auburn A Syracuse El! RR., pref. (quar.)
Aurora Elgin A Chicago R R., com. (quar.)
Preferred (quar.)---------------------------------Bangor Railway A Electric (q u a r.)...........
Birmingham R y ., Light A Power, com____
Preferred......................................................
Boston A Northern Street R y., pref.............
Boston Suburban El. Cos., pref. (q u a r .)..
Brazil Railway, preferred (qu ar.)..............
Brooklvn Rapid Transit fonar.)
Capital Traction, Washington, D .C .(qu .)
Carolina Power A Light, pref. (qu ar.)__
Cedar Rapids-Iowa City Ry. A Light, pref.
Chattanooga Ry. A Lt., pref. (qu.) (N o.6)
Cincinnati Street Ry. (qu ar.)____________
Cin. Dayton A Toledo Trac., co m _______
Preferred ........... .............. .........................
Cin. A Hamilton Trac., com . (qu ar.)____
Preferred (qu ar.)........... .............. ............
Citizens’ Elec. St. RRT, Newburyport___
City Ity., Dayton, O ., com . (qu ar.)_____
Preferred (q u a r .)......................................
Cleveland Railway (qu ar.)..........................
C ol.(0.)N ew arkA Z anesv.E l.R y.,pf. (qu.)
Columbus (Ga.) Elec. C o., pref. (N o. 9 ) . .
Consolidated Traction o f New Jersey...........
Danbury A Bethel Street R y ......................
Denver A Northicestem Ry. (quar.)...........
Duluth-Superior Traction, com . (quar.)
Preferred (q u a r .)......................................
El Paso Electric Co., pref. (N o. 17)______
3
4%
$3.45
3
2%
3
3
1
10
2%
$4
1%
2%
3
1%
1%
%
2%
5
2
1%
2
2
2
1%
3%
2
1
1%
1%
6
2
2
2%
4
2%
2%
2%
3
2%
1%
3%
2
2%
1
6
6
5
5
S I.25
4
3%
$5
2%
2
1%
3
2%
3%
1%
5
1%
2
$1
1
S2
1%
1%
4
2
i%
4
2
2%
1%
1%
1%
3
3
4
4%
3%
Jan.
Feb.
Jan.
Jan.
Jan.
25 Holders of rec. Feb. 4a
Jan. 2
< Dec. 16 to
5 Holders o f rec. Jan. 3
i U■>'■•■ rs of rec. Dec.22a
] Holders o f rec. Dec.30a
to
Jan. 10
1( Dec. 17
31 Holders of rec. Jan.14a
3 Holders of rec. Dec.23a
31 Holders o f rec. Dec. 29
31 Holders of rec. N ov.30a
2 Nov. 28
to
Dec. 3
2 Holders of rec. Dec. la
2 Holders of rec. Dec.20a
31 Holders o f rec. Dec. 15a
1 Holders o f rec. Dec.30a
31 Holders of rec. N ov.30a
31 Holders of rec. N ov.30a
31 Holders o f rec. D ec. 30
31 Holders o f rec. D ec. 30
1 Holders of rec. Jan.20a
31 Holders of rec. D ec. 9a
16 Holders of rec. Dec.31a
16 Holders o f rec. Dec.31a
1 Dec. 28
to
Jan. 3
3 Holders of rec. Dec. 17a
3 Uol f'is of rec. Dec. 9a
3 Holders of rec. Dec. 9a
3 Holders of rec. Dec.27a
31 Do not close
20 Holders of rec. Dec.30a
31 Holders of rec. D ec. 30
to
Jan.
2
31 Dec 22
1 Holders o f rec. Dec.31a
20 Holders of rec. Jan. 3a
1 Holders of rec. Dec. 15a
16 >ec. 25
to
Jan. 8
3 Dec. 16
to
Jan. 4
3 Dec. 16
to
Jan. 4
17 Holders o f rec. Jan. la
16 Jan.
1 to
Jan. 15
1 Holders of rec. Jan. 12a
10 Dec. 21
to
Jan. 2
16 Holders o f rec. Dec.19a
3 ' ' ■
4 rec. I)ec.2<a
16 Holders of rec. D ec.3 la
28 Holders of ree. Dec.30a
1 Holders of rec. Dec.30a
14 Holders of rec. Dec.31a
14 Holders of rec. D ec.3 la
14 Dec. 17
to
Jan. 15
3 Holders of rec. D ec. 23
10 Jan. 21
to
Feb. 10
1 Holders of rec. Jan.13a
3 Holders of rec. Dec.21a
2 Holders of rec. Dec.15a
3 Holders of rec. Dec.15a
28 Holders o f rec. Dec.30a
14 Dec. 20
to
Jan. 13
3 Holders o f rec. Dec. 9a
16 Holders of ree. Dec.22a
3 Holders of rec. Dec. 15a
3 Holders of rec. Dec.15a
31 Holders of rec. D ec.l5 a
31 Holders of rec. D ec.15 a
17 Holders of rec. Jan.31a
14 Holders of rec. D ec.31a
1 Holders o f rec. Jan.12a
2 Holders of rec. D ec. 5 a
to
Jan. 10
10 Dec. 29
to
Jan. 1
2 Dec. 18
2 Holders of rec. D ec.10a
31 Holders of rec. Dec.28a
31 Holders of rec. D ec.14a
1 to
Jan. 10
10 Jan.
25 Holders of rec. Jan. 16a
3
1
1 Dec. 24
to
Jan. 1
1 Holders of rec. Jan.14a
3 Dec. 16
to
Jan. 2
3 Dec. 23
to
Jan.
2
1 Dec. 22
to
Jan. 2
5
1%
1
2
1%
1
2%
2%
2%
5
61
3
2%
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Jan.
3
3
3
16
3
16
3
10
3
1
14
1
2
2
Feb.
Jan.
Jan.
fin .
Feb.
fan,
Jan.
Jan.
Dec.
Dec.
Jan.
Fan.
Jan.
Jan.
Feb.
Dec.
Dec.
Dec.
Dec.
Feb.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Dec.
Dec.
Feb.
Jan.
Jan.
fan.
Ian.
Jan.
Jan.
Jan.
Feb.
Jan.
Jan.
Ian.
Jan.
Jan.
Feb.
Jan.
Jan.
Jan.
Jan.
Feb.
Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Feb.
Jan.
Feb.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Jan.
Jan.
Jan.
% Jan.
1% Jan.
2% Jan.
1% Jan.
% Jan.
1% Jan.
1% Jan.
2% Jan.
3
Jan.
$3
Feb.
Jan.
$1
1% Jan.
1% Jan.
1% Jan.
1% Jan.
3
Dec.
1% Jan.
1% Jan.
% Jan.
2% Jan.
% Jan.
1% Jan.
2%
1% Jan.
1% Jan.
1% Jan.
1% Jan.
Jan.
3
2
Jan.
2
Jan.
2
Jan.
1% Ian.
1
Jan.
Jan.
3
Dec. 18
to
Jan. 3
D^c. 18
to
Jan. 3
D^e 13
to
Jan. 3
Holders o f rec. Dec.31a
Holders of w.ar’t N o. 17
Holders o f rec. Dec.31a
Holders of rec. Dec. la
Dec. 21
to
Jan. 2
Holders of rec. Dec.22a
Holders of rec. Dec.21a
an
2
to
Ian. 14
Holders of rec. Dec.16a
Holders o f rec. Dec.20a
2 Dec. 22
to
2 Dec. 22
to
2 Dec. 22
to
3 Holders o f rec.
16 Holders of rec.
10 Holders of rec.
10 Holders of rec.
1 Holders of rec.
to
2 Dec. 25
2 Dec. 25
to
1 Holders of rec.
16 Holders o f rec.
5 Jan.
1 to
2 Holders of rec.
1 Dec. 12 to
2 Holders of rec.
31
1 Holders o f rec.
3 Dec. 17
to
to
2 Dec. 15
2 Dec. 15
to
3 Dec. 18 to
3 Dec. 18
to
1
1 Dec. 21
to
to
1 Dec. 21
3 Holders o f rec.
i Dec. 25
to
2 Holders of rec.
15 Jan. 1 to
2 Dec. 27
to
10 Holders o f rec.
2 Holders of rec.
2 Holders of rec.
9 Holders of rec.
Jan. 2
Jan. 2
Jan. 2
Jan. 3a
Dec.31a
Dec.20a
Dec.20a
Dec.15a
Jan.
1
Jan. 1
Jan. 14
Jan. la
Jan. 5
Dec.10a
Jan. 11
Dec.28a
Dec. 15a
Jan. 2
Jan. 1
Jan. 1
Jan. 2
Jan. 2
Jan. 2
Jan. 2
Dec.15a
D ec. 31
Dec.24a
Jan. 14
Jan. 12
Jan. la
Dec.17a
Dec.17a
Dec.29a
1746
.
Name o f Company.
Per
Cent.
When
Payable.
Street and Electric Railways (Con.)
Ft. Smith Light A Trac., pref. (guar.)-----Jan.
IX
F ra n k .* Southwark Pass.lty.,Phlla.(qu.) $4.50 Jan.
Germantown Pass. R y ., Phlla. (q u a r .).. $ 1.3114 Jan.
Halifax Elec. Tram w ay. Lt<l.(qu.) (No56)
Jan.
IX
•SI
51.50
H olyoke (Mass.) Street R y ._ ......................
4
H onolulu R ap. Tran. & Land, com . (qu.)
Dec.
1
Indianapolis Street R y ............... ...........
3
3
Lake Shore Elec. R y ., 1st pref. (q u a r .).
Lancaster Co. R y. & L t., pref. (quar.)
\x
London ( Canada) Street R y .........
L ou .& N or.lty.& Lt*?., pref. A & B (q u .).
Louisville Traction, com m on (quar.)
Manchester (N . II.) Trac., L. A P. (ouar.)
Manila Elec. R R . & Ltg. Corp. (q u a r .)..
Massachusetts Electric Cos., pref...........
3
1
X
2
1
$2
Jan.
Jan.
Ian.
Jan.
Dec.
Ian.
to
3 Dec. IS
to
1 Dec. 26
1 Holders of rec.
10 Holders of rec.
31 Holders of rec.
2 Holders of rec.
to
31 Dec. 22
1 Holders of rec.
1
2 Holders o f rec.
10
10 Jan. 1 to
Jan. 2
D ec. 31
Dec.lOo
Jan. 2a
Dec.24a
Dec. 5a
Jan. 1
Dec.21a
Lawyers’ Title Ins.& Tr. (quar.) (N o. 49)
Long Island Loan & Trust, Bklyn. (quar.)
M anhattan_____________________________
Extra_______ ______ __________________
Mechanics’ of N. J. (quar.) (N o. 46)____
Mercantile (qu ar.).........................................
E x t r a ______
Metropolitan (quar.) (No. 5 6 ) ....................
Dec.20a
Mutual of Westchester County (qu ar.)___
New Y ork (quar.) . . .
I X
IX
8
/an.
2
Jan.
l
2X
2h
I X
IX
IX
1
$3
1
2X
2
Ottumwa Ry. A Light, pref. (guar.)_____
IX
Philadelphia City Passenger Ry .
$ 3.75
Philadelphia Company, com mon (qu ar.).
I X
P ortlan d(O re.)R y.,L .& P .,pf.(qu .)(N o.l8)
IX
P orto R ico R ys., L td., pref. (qu ar.)____
IX
Public Sendee Corp. o f New Jersey (guar.)
IX
Reading Traction......... ............ ..................... 75c.
Ridge Ave. Pass. R y ., Phlla. (q u a r.)____ S3
3
St. Charles Street, New Orleans....... .......... ..
St.Joseph R y ..L .,II.& P .,p (.(q u .)(N o .3 3 )IX
Sao Paulo Tram ., L. & Pow. (qu.) (N o.35)
2X
Scioto Valley Trac., pref. A 1st pref. (qu.)
IX
S3
South Side Elev. R R ., Chicago (ouar.)
X
Springfield A Xenia, pref. (quar.)___
IX
Preferred (extra).......................................
X
Stark Electric RR. (quar.)................
75c.
Syracuse Rap. Tran., pref. ( q u a r .)...
I X
Terre Haute Ind. & East. T r.. pf. (qu.)
IX
Thirteenth A Fifteenth Sts. Pass., Phlla
$6
Toronto R y. (quar.)..............
IX
lii
Twin-City It. T ., Mlnneap., com . (qu
ix
Union Passenger R y .. Philadelphia......... $ 4.75
Union R y ., Gas & Electric. pref. (ouar.)
IX
Union Traction, P h iladelph ia...
31.50
United Electric Co. o f New Jersey...........
2
United Trac. & Elec., Providence (quar.)
IX
Virginia Railway & Power, preferred .
2X
Washington Water Power, Spokane (ou .)
\x
West End St., Boston, preferred .
S2
Western Ohio R y., 2d pref. (guar.)
IX
W est India Elec. Co., Ltd. (N o. 12)
IX
W est Philadelphia Passenger Ry
So
Wheeling Traction.............
1
Winnipeg Electric R y ___
2X
Youngstown A Ohio River, vref. (quari
X
Banks.
Aetna National (quar.).........
2
America, Bank o f ......... .....................
13
Battery Park National (Nb. 1 ).........
3
4
10
4
3
Butchers’ & Drovers’ , N a t io n a l...........
Century (qu ar.)......................
IX
Chase National (q u a r.)................
3
E xtra.....................................
8
Chatham National (quar.) (N o. 160)____
4
Extra .......................................
4
Chelsea Exchange (q u a r.)__
2
Chemical National (bi-m onthly)
2X
11^
Citizens’ Central National (quar.)
City, National (B rooklyn)____
7
Coal & Iron National (qu ar.)___
IX
Colonial (qu ar.)..........................
2is*
0
Columbia (No. 4 5 ) . . . .
Commerce, Nat. Bank of (attar.) . .
2
East River National...........................
3
Fifth Avenue (qu ar.)..................
25
F ifth National (m a r.) (N o. 142) .
3
First National (q u a r.)......... ..............
5
E xtra........... ........................... ..............
8
First National, Brooklyn (quar.)___
2
Extra . ........................ .........................
2
First Security Co. (qu ar.)_____ __
3
Fourth National (q u a r.)........................ . .
2
Garfleld National (q u a r.).............................
3
German Exchange____
10
Hanover National (qu ar.)___
4
Importers’ & Traders’ National.................. 12
J i'ffrrson ..........................
4
Liberty National (q u a r.)_______________
5
E xtra..................................................
5
Manhattan Co., Bank of the (N o. 2 0 9 )..
8
Manufacturers’ Nat., Bklyn. (qu ar.)____
5
Market <& Fulton Nat. (q u a r.). .
3
Mechanics’ , Brooklyn (N o. 117)................
6
Mercantile National (q u a r .)_____ ________
I X
Merchants’ Exchange National..................
3
Merchants’ National (N o. 215)__________
3X
Metropolitan (q u a r.)_______
2
Montauk, Brooklyn_____
2
Mount Morris (quar.) (No. 44)
3
M utual...........................................
4
Nassau National, Brooklyn (quar.)
3
New York, Bank of, N. B. A. (No. 2 5 4 )..
7
New York County National (N o. 117).
20
North Side, Brooklyn (N o. 3 3 )..................
3
Park, National (qu ar.)__________________
4
People's (N o. 119)..........................................
5
Extra ..........................
2X
2
People’s National, B rooklyn......................
Phcnlx National...........
4
Royal .......................... ................
3
Seaboard National ( q u a r . ) ___
3
Second N a tio n a l........................
3
S t a t e ...................... .......... ................................
5
Union Exchange National..................
4
Washington Heights, Bank of (q u a r .)..
2
W est Side....................................... ................
0
10
Jan.
/an.
Jan. 9
3 Dec. 18 to
Jan. 9
3 Dec. 18 to
to
Jan. 9
10 Dec. 29
to
Jan. 18
18 Jan. 8
1 Holders o f rec. Jan. 14
1 Dec. 18 to
Jan. 9
to
Jan. 9
1 Dec. 18
2 Holders of rec. Dec.31a
2 Holders of rcc. D ec.3 la
15 Holders of rec. D ec. 31
to
Jan. 10
10 Dec. 28
1 Holders o f rec. Jan. 3a
1 Holders of rcc. Dec. 12a
to
D ec. 31
2 Dec. 22
Dec. 30
31 Dec. 28 to
to
Jan. 1
1 Dec. 20
2 D ec. 16 to Jan. 2
1 Holders o f rec. D ec. 31
1 Holders o f rec. Dec.15a
2 Holders o f rec. Dec.15a
1 Dec. 25
to
Dec. 31
1 Holders of rec. Dec. 5
31 Dec. 21
to • Jan. 2
5 Holders of rec. Dec. 31
5 Holders o f rcc. Dec. 31
1 Dec. 25 to
Jan. 1
2 Holders of rec. Dec.24a
to
Jan. 1
31 Dec. 23
to
Jan. 2
3 Dec. 21
3 Holders o f rcc. Dec.15a
3
2 Holders of rec. Dec. 12a
Jan.
Jan.
Dec. 15a
Dec.22a
Jan.
[Jan.
Jan.
Feb.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Ian.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
/an.
Jan.
Jan.
Jan.
2
2 Holders of rec.
3 Holders of rcc.
2
1
2 Dec. 14 to
5 Dec. 25 to
3 Holders of rec.
1 Dec. 24 to
3 Holders o f rec.
3 Dec. 24 to
2
16 Holders of rec. Dec. 24a
2 Holders of rec. D ec. 15a
5 Holders of rec. D ec.3 la
Jan.
Jan.
Jan.
3 Holders of rec. D ec. 27
to
Jan. 3
3 Dec. 21
3 Holders of rec. Dec.22a
3
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Franklin, B r o o k ly n .....................................
1
Standard ( q u a r . ) . . . . .
y
Title Guarantee & Trust (a u a r.). .
Trust Co. o f America (quar.) (N o. 3 4 ) . - Union (qu ar.)______
United States..................
Washington (quar.)...........
Extra ........... ..........
W in d so r...............
Fire Insurance.
Hanover (N o. 117)
Miscellaneous.
Aeollan-W eber Plano & Pianola, pf. (qu.)
Alliance Realty (quar.)
Amer. Beet Sugar, pref. (qu.) (N o. 46 ).
Am. Brake Shoe & F dy.,
pref. (qu.)
Ameiican Can, preferred (qu ar.)..............
American Caramel, preferred (q u a r.). .
Amer. Car & F d y., com . (quar.) (N o. 33)
Preferred (quar.) (No. 4 7 ) ...........................
American Cigar, preferred......................
American Express (quar.)________
American Gas & Electric, com . (q u a r .)..
Preferred (quar.). . . . _______
American Glue, preferred....... ..........
Amer. Iron & Steel M fg..com .& pf. (qu.)
American Locom otive, preferred (qu ar.).
American Plano, preferred (qu ar.).
American Pipe & Construction (q u a r .)..
Amer. Power & Light, pref. (qu.) (N o. 5)
American Radiator, common (ouar.)
American S c r e w ...........................
American Seeding Machine, com m on____
Preferred (qu ar.)_________
American Shipbuilding, pref. (qu ar.). .
Amer. Smelt. & R ef., com . (qu.) (N o.29)
American Snuff, com mon (quar.)
Jan. 2
Jan. 5
Dec.lEa
Jan. 2
D ec.31a
Jan. 3
Jan.
Jan.
Jan.
Dec.
F id e lity ......... ...................................................
9
16
Jan.
Tan.
Jan.
Jan.
Feb.
Jan.
1J4
Ottawa Electric R a ilw a y .....................
Trust Companies.
Bankers’ (q u a r.).............................. ........ . . .
Brooklyn (qu ar.).........................................
Extra ......... ................ ...............................
Central (q u a r.)......................................... ......
Guaranty (qu ar.)............................................
H u d so n .................. ..........................................
New England Invest. & Security, p r e f..
15 Holders o f rec. D ec. 31
2 !Holders o f rec. Dec.15a
3 Dec. 15
to
Jan. 2
to
Jan. 3
3 Dec. 20
I
1
1
Dec. 31
to
Jan. 1
31 Dec. 28
31
1 Dec. 23 to
Jan. 1
Per
Cent.
1 Holders of rec. D ec.21 a
31 Holders of rec. Dec.24a
•}1
IX
X
P referred .......................................
Name o f Company.
Jan.
Dec.
Jan.
IX
Books Closed.
Days Inclusive.
4
5
5
9
2
4
6
3
4
4
5
8
3
1
3
3
3
3
3
5
5
5
6
Nashville R y. & Light, com . (q u a r.)____
New York State R y s., com . (qu ar.)___
Preferred (qu ar.)_____ _____
Norfolk & Portsmouth Trac., pref (N o 1)
Northwestern Elev. R R ., Chic. pref. (au.)
Old Colony StreetR y.,pre/_______
Omaha & Coun. Bluffs S t.R y ., com . (qu.)
[Voi. l x x x x i .
T H E C H R O N IC L E
31
1 Dec. 20 to Jan.
3 Dec. 23 to Jan.
3 Dec. 25 to Jan.
3 Holders o f rec. D ec.
3 Holders of rec. D ec.
1 D ec. 24 to D ec.
1 Dec. 24 to D ec.
1
Dec. 31
2 Dec. 26 to Jan.
3
3
2
2
2
31
31
31
31
1
3
]
Jan.
3 Dec. 22 to
3 Dec. 21
to
2 Holders o f rec.
3
3 Holders of rec.
3
Jan. 3
Jan. 4
Dec.31a
Central Coal & Coke, common (quar.) . .
Preferred (qu ar.)..................
D ec.3 la
Chic. June. Rys. & U . Stk. Yds. ,com7(quj
Jan. 2
Jan. 2
Jan. 3
Jan. 2
Jan. 2
Jan. 4
Dec.31a
Dcc.31a
Jan. 2
Jan. 2
Jan. 2
Jan. 2
Jan. 3
Dec.22a
Dec. 22
Jan. 2
Jan. 2
Jan. 2
Jan. 3
Jan. 2
Jan. 2
Jan. 3
Cincinnati Gas Transport’ n, com ., g u a r ..
Cincinnati & Suburban Bell Telep. (auar.)
Cities Service, com mon (N o. 1) .
Preferred (No. 1)..........................
Citizens’ Gas of Indianapolis (No. 1)
Dividend No. 2 _______ _____
3
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
ran.
Jan.
Jan.
Jan.
Jan.
Jan.
1 Dec.
21
to
to
31 Dec. 22
to
3 Dec. 17
3 Dec. 23- to
3 Dec. 21 to
4 Dec. 28 to
3 Holders o f rec.
3 Holders o f rec.
3 D ec. 29 to
3 Dec. 24 to
3 D ec. 25 to
3 D ec. 25 to
3 Dec. 24 to
3 Holders o f rec.
3 Holders o f rec.
3 Dec. 18 to
1 Dec. 16 to
3 Dec. 21 to
3 Dec. 23 to
3 Dec. 25 to
3 Dec. 24 to
3 Dec. 27 ' to
3
3
3 D m . 25 to
3 Dec. 25 to
3 Holders o f rec.
3 Dec. 25 to
2 Dec. 31 to
3 Holders o f rcc.
3 Holders of rec.
3 Dec. 10 to
3 Dec. 22 to
Dec.
31
3
Dec. 30
to
Jan. 2
Jan. 2
Dec.31a
Jan. 2
Jan. 1
Dec. 24
Dec.30a
Jan. 2
Jan
2
Jan. 2
Dec.
31 Dec. 22
to
Jan. 10
Jan.
Jan.
Jan.
Jan.
Ian.
Ian.
Ian.
25
3
2
3
Columbus Gas & Fuel, preferred (a u a r.).
Columbus (O .) L., H. & Pow ., co m m o n ..
Preferred (quar.).......................................
Consumers’ Power, pref. (qu ar.)...............
Corn Products Refining, pref. ( q u a r .)...
Cuban-Amerlean Suirar. pref (qu ar.). ..
Cumberland Tel. & Tel. (quar.) (No. 109)
Delaware Lack. A Western Coal (q u a r.)..
De troit Edison ( o u a r .i...............................
Distillers’ Securities Corp. (qu.) (No. 33)
Distilling Co. o f Am er., pref. (quar.)
Duluth Edison Elec. pref. (qu.) (No. 19)
d u P on t(E .I.)d e Nemours Pow., pf. (qq )
du Pont Internat. Powder, pref. (ouar )
Eastern Light & Fuel, com mon (quar )
Eastman K o d a k .co m . (quar.).
Common (extra)....................
Preferred (qu ar.)....................
Electrical Securities Corp.. com (q u a r i
Preferred (qu ar.)......... ......
Elec. Utilities Corp., pref. (qu.) (N o. 3)
Electric Storage Bat., com . & pref. (au.)
Empire Steel & Iron, pref. (No. 24) ‘
General Chemical of California, first pref
General Chemical, preferred (auar >
General Electric (qu ar.).........
Goldfield Consolidated Mines (q u a r .)...
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Dec.
Jan.
D ec.
Jan.
Jan.
Deo.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Dec.
Jan.
Dec.
Dec.
Jan.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
7X
Jan.
IX
Dec.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
dan.
Jan.
Feb.
Feb.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan,
Jan.
Jan.
[Dec.
Dec.
Jan.
Jau.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
[Jan.
Jan.
dan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan,
dan.
dan.
Jan.
Dec.
Dec.
uec.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Jau.
Jan.
Dec
Feb.
Jan.
Jan.
Jan.
Ian.
Jan.
2
ix
elX
IX
2
X
IX
3
$3
ix
IX
4
IX
IX
I X
IX
2
ix
2
2X
X
I X
IX
1
IX
5
2
I X
IX
IX
I X
2
IX
1
2
1M
3
3
Jan.
Dec.
12X
3
Preferred (qu ar.)..............
IX
Am. Sugar R efg., com .& pref. (q u a r .)...
IX
American Surety (quar.) (N o. 8 6 ).
2X
5
E xtra..................................................
2
American Telcph. & Telee (quar.)
American Thread, preferred................
2X
American Tobacco, preferred (quar.)
IX
1
American Type Founders, coni. (qu ar.).
Preferred (q u a r .)....................................
1H
IX
American W oolen, pref. (ouar.) (No. 47)
50c.
Anaconda Copper M ining (quar.) (N o. 41)
Associated Gas A Electric, pref. (qiiar.) .
I X
Associated Merchants, ls< pref. (ouar.)
IX
First preferred (extra)...........
X
Second preferred (quar.)___
I X
Second pre erred (extra)
X
2
Bell Telephone of Canada (auar.)
Bell Telephone o f Pennsylvania tgunr )
IX
Bliss (FA IK.), common (quar.) '
2X
Preferred (quar.)__
2
Broeklvn Union Gas (quar ) (N o. 39)
ix
Butte Electric & Power, common (quar.)
IX
Canadian Gen. Elec., Ltd., com . fquar.)
IX
Canadian Westlnghouse (quar.) (N o 24)
IX
E xtra......... ...........................
1
Canton Com pany......................
$1.50
Extra ................................ ............
50c.
Celluloid Company (quar.)_____
IX
1
Jan.
4
5
3
When
Payable.
5
2
X
IX
ix
I X
IX
\x
2
IX
IX
1
IX
2
2X
IX
X
1
IX
IX
ix
2
2X
2X
IX
2
1 \£
IX
i
2
IX
I X
2
30c.
20c
Jan.
3
3
3
3
31
3
31
3
3
31
3
31
3
3
31
3
2
3
3
3
Books Closed.
Days Inclusive.
Holders
Holders
Holders
Holders
of
of
of
of
Dec. 22
rec.
rec.
rec.
rec.
Dec.27a
Dec.23a
Dec.23a
Dec.24a
to
Jan.
2
Holders o f rcc. D ec. 30
Holders o f rec. D ec.3 la
Dec. 24
to
Jan. 2
Dec. 18 to
Holders of rec.
Dec. 8
to
Dec. 8 to
Dec. 29
to
31 Holders of rec.
31 Holders of rec.
31 Dec. 23
to
3 Dec. 23
to
31 Holders o f rec.
.) 1 Dec. 25
to
3 Holders o f rec.
31 Holders o f rec.
31 Holders o f rec.
31 Holders o f rec.
10 Jan. 6 to
3 Dec. 20
to
3
3 Holders of rec.
29 Holders o f rec.
Jan. 3
Dec. 17a
Jan. l a
Jan. 10
Jan. 2
Dec. 23
D ec. 23
Jan. 2
Jan. 2
Deo. 30
Jan. 2
D ec.31a
Dec.21a
Dec. 23
D ec. 24
Jan. 9
Jan. 2
D ec. 24
D ec. 28
3
31 Holders of rcc. Dec. 24a
16 Holders of rcc. Jan.
5
3 Holders o f rcc. Dec.21a
31 Holders of reo. Dec. 16a
2 Holders of rcc. Dec.16a
- Dec. 22
to
Jan. 1
2 Holders of rec. Dec.12a
2 Holders of rec. Dec.12a
3 Holders of rec. Dec.15a
3 Holders of rec. Nov. 30a
2 D ec. 22
to
Jan. 2
1 Jan. 22
to
Feb. 1
i Jan. 20
to
Feb. 2
2 Holders o f rcc. D ec.20a
21 Jan. 5
to
Jan. 23
31 Holders of rec. Dec. 15
1 Dec. 11
to
Jan. 2
2 Holders of rec. D ec.I. a
3 Dec. 21
to
Jan. 3
31 Deo. 23
to
Jan. 1
:;i Holders of rcc. Dec.24a
15 Holders of rcc. Dco.31a
15 Holders of rec. D ec.3 la
16 dJan. 4 to
Jan. 16
16 Dec. 16 to
Jan. 5
3
3 Holders of rec. Dec. 15a
3 Holders of rec. Dec.15a
3 Holders of rec. Dec.15a
3 Holders of rec. Dec. la
31 Dec. 16
to
Jan, 10
31 Dec. 16
to
Jan. 10
16 Holders o f rec. D e c.3 la
1
3
16
16
16
18
15
16
16
16
16
14
16
3
3
3
3
i
10
10
31
31
3i
31
14
14
3
9
3
3
25
31
2
31
4
1
’ 1
1
1
3
1
3
10
Holders of
Holders of
Holders of
Dec. 22
Holders of
Holders o f
Holders of
Holders of
Holders of
Holders of
Holders o f
rec. Deo. 10a
rcc. Jan. 10a
rec. Jan. 10a
to
Jan. 4
rcc. Jan. 7
rec. Dec. 31
rec. Jan. 7
rec. Jan. 7
rcc. Jnn. 7
rec. Jan. 7
rcc. Dec.23a
Dec. 18
to
Holders o f rec.
Dec. 16
to
Jan. 1 to
Jan. 2
Dec. 15a
D ec. 31
Jan. 9
Dec. 21
Jan.
to
Holders of rec.
Jan.
1 to
Jan. 1 to
Holders of reo.
Holders of rcc.
Holders of rcc.
1
Dec.14a
Jan. 15
Jan. 15
Dec.10a
Dec.31a
Dec. 12a
Dec. 15
to
D ec. 21
Dec. 25
to
Jan. 2
Dec. 24
to
Jan. 3
Holders o f rcc. Dec. 20
Holders of reo. D ec. 20
Dec. 16
to
Jan. 1
Dec. 16
to
Jan. 1
Holders of rcc. Dec. 24
Holders of rec. D ec. 15a
Holders of rcc. Dec.15a
Holders of rec. Dec.15a
Holders ol rec. Dec.19a
Holders o f rec. D ec.3 la
Holders of rec. Dec. 15a
Dec. 25 to
Dec. 26
Holders of rcc. Dec.31a
Holders of reo. Jan. 3a
Holders o f rcc. Jan. 10a
Holders of rcc. Jan. 10a
Holders of rcc. Dec.20a
i in. 15 to
Jan. 25
Holders o f rec. Dec.20a
Holders of rec. Dec. 21
H oldersof rcc.N ov. 30a
Holdersof rec. N ov. 30a
3
2
16
16
31
30
3
25
2
31
2
2
2
31 Holders o f rcc. D cc.31a
1
16
3
3
3
3
14
31
Holders of
Holders o f
Dec. 21
Holders of
Holders of
Holders of
iloldCfS of
31 Holders of
3 Holders o f
rcc.
rcc.
to
rcc.
reo.
rcc.
rcc.
rcc.
rec.
D eo.3la
Dec.24a
Jnn. 3
Dee. 20
Dec.20a
Deo. 3a
Dec.31a
Dec.31a
D ec.28a
Dec. 31 1910. J
THE CHRONICLE
Per
Cent.
Name o f Company.
Miscellaneous (Concluded).
Great Lakes Towing, pref. (qu ar.)-------Guggenheim Explor. (quar.) (No. 3 2 ).
Harrison Bros. & Co., Inc., pref. (quar.)
Ingersoll-Uand, preferred........................
IX
2X
1
)
Preferred (quar.).....................................
Inlemat. Buttonhole Mach. (qu.) (N o. 53)
Internal. Cotton Mills Corp., pref. (quar. )
Internat. Harvester, com . (qu.) (N o. 4)
International Nickel (qu ar.)..................
Common, extra (qu ar.)...........................
Preferred (quar.)____________________
International Sliver, pref. (qu ar.).
Preferred (extra )____________ ___
)
Kansas Gas & Elec., pref. (qu.) (N o. 3)
La Belle Iron W orks (qu ar.).................. Lawyers’ Mtge. Co. (quar.) (No. 3 7 ) - - Mackay Companies, com . (quar.)(N o.22) Preferred (quar.) (No. 2 8 )........... ........
Manning, Maxwell & Moore, Inc. (quar.) Massachusetts Gas Cos., common (quar. )
Massachusetts Ltg. Cos. (quar.) (No. 29)
May Department Stores, pref. (q u a r .)..
Mcrgenthaler Linotype (qu ar.)................
Extra ______ ________________________
Mexican Telegraph (qu ar.)-----------------Michigan Light Co., pref. (q u a r.)--------Michigan State Telephone pref. (quar.)
Preferred (No. 24)
Mortgage-Bond (qu ar.)...............................
National Biscuit, com . (quar.) (No 49)
National Lead, common (quar.)
National Sugar Refining, pref. (q u a r.)_ .
Natlonal Surety (q u a r.)_______ ________
Nevada Consolidated Copper (q u a r .)-.New York Air Brake (q u a r.)....................
N. Y . Mortgage & Security (qu ar.)-----New York Mutual Gas Light....................
Niagara Falls Power (N o. 4 ) ___________
Nlpisslng Mines ( q u a r .) ........................ ..
E xtra........................ ................................
North American Co. (qu ar.)------------------Northern Stales Potcer, pref. (quar.)-------N ova Scotia Steel & Coal, com . (qu ar.).
Preferred (qu ar.).....................................
Oklahoma Gas & Elec., pref. (quar.)-----Old Dominion Steamship (No. 7 0 ).........
Onderdonk Estate, com m on......... ............
Preferred ................... - ...........................
Otis Elevator, preferred (qu ar.).
Pay-as-You-Enter Car Corp., pref. (qu.).
Penn sylvania Lighting, preferred ........ —
Pittsburgh Coal, preferred (q u a r .) -----------Pittsburgh Plate Glass, common (quar.).
Procter <fe Gamble, pref. (quar.)........ -
Public Securities, first preferred............
Quaker Oats, com. (quar.)-----------------Common (extra)-----------------------------Preferred (quar.)........ ............. - .........
Realty Associates (No. 16)....................
R eece Buttonhole M ach, (q u .) (N o . 99)----Republic Iron Steel, pt. (qu.) (No. 36).
Royal Baking Powder, common (quar.).
Preferred (quar.)............ ....... ...............
San D iego Cons. Gas & E lec., p r e f. (quar.)
Jan.
Jan.
Jan.
3
.1 tn.
Feb.
1
IX Dec.
1
Jan.
IX Jan.
l
fan.
1
Melt.
X Melt.
I X Feb.
X Jan.
IX Jan.
X Jan.
X Jan.
IX Jan.
2X Dec.
2
Jan.
3
Dec.
IX Jan.
1
Jan.
IX Dec.
l
Feb.
IX Jan.
IX Jan.
2X Dec.
5
Dec.
2X Jan.
IX Jan.
IX Feb.
IX Feb.
3
Feb.
Jan.
$1
IX Dec.
IX Jan.
IX Jan.
I X Dec.
1
Jan.
X Dec.
IX DCC.
IX Jan.
2
Jan.
X X c . Dec.
IX Dec.
IX Jan.
3
Jan.
4
Jan.
2
Jan.
Jan.
5
2X Jan.
IX Jan.
Jan.
m
Jan.
ix
2
Jan.
IX Jan.
fan.
3
5
Jan.
Ian.
3x
Jan.
Si
IX Jan.
IX Jan.
i X Jan.
IX
ix
ix
2
3X
2
X
IX
3
2
IX
3
IX
IX
IX
1X
Scranton Electric Co., pref. (quar.)------Sears, Roebuck & Co., pref. (quar.)----Securities Company---------- ------------------2X
Shawlnlgan Water & Power (quar.)........
1
Shelby Iron............................. ......... .........
2X
Sloss-Shefflehl Steel & Iron, pref. (quar.)
\x
South Porto Itlco Sugar, common (quar.)
1
Preferred (quar.)........ ............... ...........
2
Spring Valley Water (quar.)----------------- 50c.
Standard Gas Light, N. Y., common----2
Preferred___________________________
3
Standard Screw, common and preferred
3
Subway Realty (quar.).................. - .........
ix
Swift & Co. (quar.) (No. 97).......... .......
1X
Tennessee Copper.......... - ........................... $1.50
Texas Company (quar.)............................
2X
Texas & Pacific Coal (quar.)....................
1X
3
Torrlngton Company, preferred................
Underwood Typewriter, oref. (quar.)
XX
Union Bag & Paper, pref. (qu.) (No. 47).
1
Union Switch & Signal, com. & pf. (qu.)
3
Com. & pf. (special) payable In com.stk 60-7
United Bank Note Corp. , pref. (quar.)
XX
United Cigar Stores, Corp. of (qu.) (No. 6)
1'A
Extra ...................................................2^
United Fruit (quar.) (No. 46)..................
United Gas & Elec, of New Jersey, pref..
2X
Unlted Gas Improvement (quar.)............
2
United Shoo Machinery, common (quar.)
2
Preferred (quar.)....................................
IX
1
U. S. Finishing, com. (quar.) (No. 8)----Preferred (quar.) (No. 46)----------------IX
1
U. S. Glass (quar.)....................................
U. S. Light & Heating, preferred............
3X
U. S. Printing of Ohio (quar.)-................
x%
U. S. Smelt., Refg. & Mining, com. (qu.)
l
Preferred (quar.)............ .......................
IX
Utah Copper (quar.) (No. 10) _________ 75c.
Utah Gas & Coke Co., pref. (quar.)........
XX
Van Dyok Estate, common...... ...............
3
Preferred (q u a r .).................................
XX
Ver Planck Estate, common......................
IX
Preferred ................ ........... — .
3X
Va.-Carolina Chcm., pref. (qu.) (No. 61)
2
Vulcan Dcttnnlng, pref. (quar.)..............
ix
Wells, Fargo * Co.....................................
Welsbach Company, preferred..................
3X
Western Electric Co.................................... 1 1-3/
Extra................................- .....................
2
Western Union Telegraph (qu.) (No. 167)
X
Westlnghouse Air Brake (quar.)-----------2X
Extra _______ ________ ________ _____
ix
Special ......................................- ...........
1
Westlnghouse El. & Mfg., pref. (quar.)..
xx
Preferred ...............................................
3 Xh
Vukou Gold (quar.) (No. 6).................. 10c.
EM__
________
When
Payable.
Ian.
Dec.
Jan.
Ian.
Jan.
Jan.
Feb.
Jan.
Jan.
Jan.
Dec.
Dec.
Ian.
Jan.
Jan.
Jan.
Ian.
Jan.
Jan.
Jan.
Ian.
Dec.
ice.
Dec.
ran.
Jan.
Ian.
ran.
Dec.
Dec.
Jan.
Jin.
Jan.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan,
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.
Jan.
Jan.
Jan.
Tan.
Jan.
Jan.
Jan.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Books Closed.
Days Inclusive.
3 Holders of rcc
Dec. 15
to
of rcc
1 Holders of rec
1 Holders o f rec
31 Dec. 21
to
16 Holders o l rcc
3 Holders of rcc
1-1 Holders of rec
1 Feb. 10 to
1 Feb. 10 to
1 Jan. 13 to
16 Holders of rcc.
2 DCC. 20 tO
2 Dec. 20 to
2 Holders of rec
a Dec. 23
to
to
31 Dec. 24
2(1 Jan. 1 to
31 Holders of rcc.
a Holders of rec
a Holders of rec
31 Holders of rec.
1 Holders of rec
16 Holders of rcc
I Holders of rec
31 Holders of rec
31 Holders of rec
1C Holders of rcc
a Holders o f rec
i Jan. 15
to
l Holders ol rcc
l Holders of rec.
25 Jan. 13
to
31 Holders o l rec.
14 Holders of rcc
14 Jan. 5 j * t o
31 Dec. 11
to
16 Holders of rec.
31 Dec. 10
to
31 Dec. 28
to
3 Holders of rcc.
3 Dec. 24
to
31 Dec. 10 to
31 Holders of rec.
27 Holders of rcc.
4 Holders of rec.
10 Holders of rcc.
16 Holders o f rec
20 Jan. 1 toj
20 Jan. 1 to
2 Holders of rec.
15 Holders of rcc.
II Jan.
1 to
14 Jan.
l
to
15 H olders'ofArec.
Dec. 21
to
2 Holders
1
Dec. 15
Jan. 3
Dec. 28a
Dec. toa
Jan. 20
Jan. 2
Jan. 5
Dec. 31
Dec. 24a
Mch
1
Mch
1
Feb. 1
Jan. 5a
Jan. 2
Jan. 2
Dec. 20a
Jan. 3
Jan.
1
Jan. 17
Dec. 23
Dec. 10a
IDcc. 10a
Dec. 31
Jan. L8a
Dec. i la
Dec. 20
Dec. U)a
Dec. 10a
Dec. 31a
Dec. 22a
Feb. 1
Jan. 18a
Jan. L8a
Jan. 24
Dec. 24
Dec. 28a
Jan. 15
Jan. 2
Jan.
1
IDcc. 13
Jan. 2
Dec. 20
Jan. 3
Dec. 18
Dec. :5a
Jan. 5a
Dec. 24
Dec. 28
Jan. 2a
Jan. 17
Jan. 17
Dec. 5a
Dec. 31
Jan. 15
Jan. 15
Dec. 31
Jan. 2
I
26
16
15
14
Holders o f rec. Dec.31a
Holders o f rcc. Dec. 31
Jan. 1 to
Jan. 15
Holders of rec. Dec. 31
Holders of reo. Dec. 31
25 Holders of rec. Jan. 14
31 Dec. 16
Jan.
to
1
14 Holders of rcc. Dec. 31
I Holders of rec. Dec. 24
16 Holders of rce. Jan. 3a
16 Holders of rcc. Jan. 3a
28 Holders of rec. Feb. la
l-i lolders of rcc. Jan. 5
16 Holdrcs of rec. Jan. 5
2 Holders of rcc. Dec.17a
31 Holders of rec. Dec. 15a
31 Holders of rec. D ec.l 5a
15 Holders of rcc. Dec. 31
2 Dec. 22 to Jan. 1
1 lolders of rec. Dee. 15(i
14 Ian. 1 to
Jan. 15
20 Holders of rec. Jan. 7
10 Dec. 28 to Jan. 10
3 Holders of rec. Dee. 20a
3 Dec. 23
Jan. 3
to
Jan. 3
3 Dec. 23
to
31 Dec. 18 to
Dec. n
Jan. 2
31 Dec. 2L to
Jan. 2
31 Dec. 21
to
1 Holders of rcc. Dee. 15a
3 lolders of rcc. Dec.2 la
2 )rc. 18 to Jan. 5
26 Holders of rcc. Jan.10a
31 Holders of rec. Dec. 15a
31 )cc. 21
I in. 2
to
2 Dec. 21 to Ian. 1
Holders of rec. Dec.20a
16'IIoldcrs of rec. Dec.31a
Jan. lo
Dec.
Jan. io
Dec.
Jan. 2
Doc.
Jan. 16
Jan.
Jan. 16
Jan.
Holders of rec. Dec. 24
Jan.
1 to
Jan. 13
Holders of rec. Deo. 31
Holders o f rec. Dec. 20
Holders of rec. Dec. 20
Holders of reo. Dec. 21
Holders of rec. Dec. 21
5 Holders of rec. Dec. 29
16 Holders of rec. Dcc.31a
3 Dec. 23
to
Jan. 3
16 Holders of rec. Dec. 31
16 Holders of rec. Dec. 31
31 )ec. 17
to
Dec. 20
3 Dec. 24
to
Jan. 2
1
1
1
1
16 Jan.
1 to
20 Holders of rcc.
16 Jan. 0 to
31 Holders of rcc.
31 Dec. 25
to
31 Dec. 25
to
16 Holders ol rec.
10 Dec. 31 to
10 Dec. 31 to
10 Dec. 31 to
16 Jan. 7
to
16 Jan. 7
to
31 Dec. 14
to
Jan. 15
Jan.10a
Jan. 16
Dec. 27
Dec. 31
Dec. 31
Dec.20a
Jan. 10
Jan. 10
Jan. 10
Jan. 16
Jan. 16
Jan. 2
aTransfer books not closed, bLess Income tax. dCorrection, eDeclared 7%
on
both common and preferred stocks, payable In quarterly Installments. / T w o months’
dividend on accou n tof changeln dividend period from Q.-F. 1 toQ .-M . 31. 0Payable
In com mon stock to holders of record Dec. 31 1910. h On account o f accumulated
dividends.
17
n
S tatem en t of N ew Y o rk C ity C learing-H ouse B a n k s.— T h e
d e ta ile d s ta t e m e n t b e lo w s h o w s th e c o n d it io n o f th e N e w
Y o r k C le a r in g -H o u s e b a n k s f o r th e w e e k e n d in g D e c . 2 4 .
T h e fig u r e s f o r th e s e p a r a te b a n k s a re th e a v e r a g e s f o r th e
d a ily re s u lts .
I n th e ca se o f th e t o t a ls th e a c tu a l fig u r e s
a t th e e n d o f th e w e e k a re a lso g iv e n .
F o r d e fin itio n s a n d ru le s u n d e r w h ic h th e v a r io u s it e m s
a re m a d e u p , see “ C h r o n ic le ,” V . 8 5 , p . 8 3 6 .
_____
Banks.
00s omitted.
Bank o f N. Y .
Manhattan Co
Merchants’ ___
Mech. & Metals
America ...........
P h e n lx ______
City ..................
Chemical___
Merchants’ Exch
Gallatin..
Butch. & D rov.
G reen w ich ____
American Excli.
Commerce_____
M ercantile____
Pacific ______
C h a th a m ____
People’s _____
H an over.........
Citizens’ Cent.
N a ssa u ............
Market & Fulton
Metropolitan . .
Corn Exchange
Im p. & Traders’
P a r k ..................
East R iv e r ____
F o u r t h _______
S e c o n d _______
First __________
Irving E x ch __
Bowery N .Y . C o u n ty ..
German-Amcr .
Cha«c_______
Fifth A v en u e..
German E x c h ..
Germania
Lincoln . .
Garfield _.
F ift h ____
M e tro p o lis____
West Side_____
Seaboard______
Liberty _______
N. Y. Prod Ex.
State __________
14th Street____
Coal & Iron____
Union E x ch ___
W e omit two ciphers (00) In all cases.
•xw.'sefKj
Capital. Surplus.
Loans.
Specie.
Lcgals. Deposits. ReAverage. Average. Average. Average. s’ve.
2,000,0
3,624,1
19,203,0
2.050,0
4,302,2
31,200,(1
2,000.0 1,832,1 18,205 0
6,000,(1 8,049,5 49,895,9
1,500,0
6,006,3
22,421,1
1, 000.0
759,6
8,179,0
25,000,0 31,588,3 167.162,5
3,000,0
0,577,7
28,311,0
600,0
602,6
7,071,8
1 , 000,0 2,517,2
8,292,9
300,0
162,0
2,455,1
500,0
845,4
7,716,5
5,000,0
4,252,9
33,343,5
25,000,0 16,601,4 139,840,7
3.000,0
14,048,9
2,723,8
500,0
3,487,6
927,8
450,0
1,012,4
7,824,2
200,0
480,3
1,071,6
3.000,0 12,069,9
63,038,0
2,560,0
1.713,2
21,736,9
500,0
540,0
7,163,2
1 ,000,0 1,749,1
8,295,3
2,000,0 1,518,8 11,534,5
3,000,0
5,429,2
40,990,0
1,500,0
7,075,1
25.613,0
5,000,0 12,550,1
75,800,0
250,0
111,9
1.447,9
5,000,0
5,635,0
29,351,0
1 ,000,0 2, 110,1 12,503,0
10,000,0 20,913,1 101,471,0
2,000,0 1,741,1 22.754.4
250,0
802,7
3,380,0
500,0
1,726,0
7,020,7
711,2
750,0
3,923,9
8,108,3
73,520,3
5,000,0
100,0 2,170,6 12,188,9
901,3
3,680,7
200,0
5,029,3
200,0 1,023,4
1 ,000,0 1,563,1 13,532,9
8,029,2
1 ,000,0 1,208,7
3,337,8
510,4
250,0
1,000,0 2,OSS,4 12,449.3
4.0S2.0
200,0 1,051,5
1,000,0 1,977,2 20,466,0
1, 000,0 2,719,9 16,562,8
735,6
1,000,0
7,887,1
1, 000,0
893,2
15,205,0
1,000,0
311,2
6,075,9
1,000,0
408.9
5,551,0
1,000,0
970,7
9,185,9
3,289,0
6,574,0
3,493,0
10,473,8
3,753,4
2,003,0
34,017,7
4,931,1
1.5&3.7
1.121,7
675,4
1,950,3
5,984,2
23,220,8
1.669,2
332,4
944,7
471,9
11,865,3
5,210,1
585,5
1,492,0
2,854,1
7,331,0
4,158,0
18,646,0
390,7
4,788,0
2,907,0
20,059,5
4,913,3
806,0
1,277,4
721,7
14,102.9
2,420,4
475,2
986,2
2,704,3
1,901,1
585,1
1,493,7
845,0
4,589,0
5,061,3
2,118,8
4,460,0
1,042,1
728,0
1,487,0
980,0
1,853,0
1,245,0
1,268,0
1,760,0
275,0
4,610,0
1,764,7
214,9
514,9
86,9
220,0
2,007,7
8.131,8
995,8
511,8
1,234,1
145,8
6,510,6
227,0
1,358,3
787,9
252,4
4,427,0
1,818,0
1,302,0
151,3
2,400,0
177,0
1,787,8
1,224,3
56.0
638,6
239,1
5,702,3
1,160,0
533,9
507,2
882,2
533,1
311,2
1,691,1
243,0
1,501,0
713,5
227,9
319,0
726,5
696,0
915,0
%
16,561,0 25.7
34.500.C 24.4
18.050.C 26.2
46,662,2 25.1
21,467,-1 25.0
7.808.C 29.7
150,402,5 25.7
25,914,5 25.9
7,192,3 25.0
6,343,3 25.9
2,602,0 29.2
8,567,0 25.3
31,596,1 25.4
116,260,0 27.1
10,283,2 25.9
2,973,9 28.3
8,167,9 26.6
2,129,8 2J.0
70,168,4 26.2
20,935,5 26.1
7,915,1 24.5
8,179,3 27.8
11,890,3 26.1
47,361,0 24.8
22,952,0 26.0
77,106,0 25.8
1,724,9 31.4
28,456,0 25.2
12,021,0 25.6
88,496,4 24.0
23,762,2 25.9
3,501,0 24.6
7,580,4 25.7
3,703,9 25.9
78,170,9 25.3
13,660,5 2B.7
3,968,7 25.4
6.820,8 25.6
14,074.0 25.4
8,346,5 29.1
3,502,0 25.6
12,625,7 25.2
4,442,0 24.4
23,540,0 25:8
18,056,2 31.9
9,317,4 25.1
18,768,0 25.4
6,767,3 26.1
5,512,0 25.8
9,260,0 25.9
Totals, average 133,350,0 196,577,1 1223,743,2 239,495,0 67,839,0 1189,066,6 25.3
Actual figures Dec 2 4 . . | .............. 1324,180,8 239,201,9 68,028,8 1189,339,9 25.8
On the basis of averages, circulation amounted to 348.378,400 and United States
deposits (Included In deposits) to $1,767,800; actual figures December 24. circula
tion, $47,889,200; United States deposits, $1,680,900.
T h e S ta te B a n k in g D e p a r t m e n t a lso n o w fu rn is h e s w e e k ly
re tu rn s o f th e S ta te b a n k s a n d tr u s t c o m p a n ie s u n d e r its
ch a rge.
T h e s e re tu rn s c o v e r all th e in s t itu tio n s o f th is cla ss
in th e w h o le S t a t e , b u t th e fig u r e s a re c o m p ile d so a s t o
d is tin g u is h b e tw e e n th e r e su lts fo r N e w Y o r k C ity (G r e a te r
N e w Y o r k ) a n d th o se f o r th e rest o f th e S t a te , a s p e r th e
fo llo w in g :
F o r d e fin itio n s a n d ru les u n d e r w h ich th e v a r io u s ite m s a re
m a d e u p , see “ C h r o n ic le ,” V . 8 6 , p . 3 1 6 .
STATE BA N K S AN D T R U S T COMPANIES.
Week ended Dec. 24.
Capital as o l N ov. 10-----Surplus as of Nov. 10-----Loans and Investm ents.Change from last week
Legal-tenders * hk. notes
Deposits ............................
Change'from last week.
State Banks
Trust Cos.
Slate Banks
Trust Cos.
In
In
outside o f
outside
Greater N . Y. Greater N . Y. Greater N . Y . Greater A*1. Y
$
25,275.000
S
65,406,000
S
*8.998.000
39.391,800
174,583,300
♦10.891,650
*9,817,991
290,473,100 1,016,037,900
+ 1,206.300
+ 240,000
95,588,800
+ 55,500
143,445,000
+ 238,500
100,464,400
— 979,900
149,567,600
— 73,900
45,822,600
+ 467,800
110,521,300
— 466,400
24,654,900
+ 269,700
13,054,300
— 332,100
332,003,400 1,041,594,100
+ 1,677,300
+820,600
S
*9,075,000
Reserve on deposits.........
Change from last week
92,736,900
+ 472,400
129,058,800
— 906,000
20,413,900
— 268,000
21,698,800
+ 219,900
P. C. reserve to deposits.
Percentage last. w eek -.
28.5%
28.5%
15.5%
15.5^,
21. 1 %
21. 1%
15.1%
15.1%
+ Increase over last week. — Decrease from last week. * As of Aug. 31.
N ote.— "Surplus” Includes all undivided profits. "R eserve 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 arc 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 deposits secured by bonds of the Slate
of New York. The State banks are likewise required to keep a reserve varying
according to location, the reserve being com puted on the whole amount of d<posits
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
of the State of New York.
— Trust Cos.—
— State Banks—
Reserve Required fo r Trust Companies
Total
Of
Total
Of
and State Banks.
R serve
which Reserve
which
Location—
Required in Cash Required. in Cash.
_ -._ 1 5 %
15%
15%
25%
at.). 15%
20%
10%
10%
an). 15%
15%
7 y>%
10%
m .15%
20%
15%
20%
....1 5 %
15%
15%
15%
- - . . 10%
5% - 15%
6%
lVOL. LXXXXI
THE CHRONICLE
1748
B oston and Philadelphia B a n k s. — Below is a summary of
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and the weekly totals of the Clearing-House banks of Boston
trust companies in the Greater New York n o t i n th e C l e a r i n g and Philadelphia.
H ou se.
These figures are shown in the table below, as are
W e omit two ciphers (0 0 ) in all these figures
also the results (both actual and average) for the Clearing
Capital
House banks. In addition, we have combined each corre Banks.
Loans.
Specie.
and
Legals. Deposits, a Circu Clearings.
Surplus.
lation.
sponding item in the two statements, thus affording an
$
Boston.
$
S
S
S
$
$
aggregate for the whole of the banks and trust companies in Dec. 3 . . 40,200,0 199,744.0 22,749,0 3,936,0 241,325,0 7,940,0
168,544,4
D ec. 1 0 - 40,200,0 199,846.0 22,056,0 3.810,0 237,157,0 7,993,0 162,071.0
the Greater New York.
161,021,8
Dec. 1 7 - 40,200,0 200,128,0 22,353,0 3,635,0 239,530,0 7,777,0
N E W Y O R K C IT Y BA N K S AN D TR U ST COM PANIES.
IFceJt ended Dec. 24.
Clear .-House
Banks.
ActualFlgures
Total o f all
Clear .-House State Banks &
Banks.
Trust Cos. not Banks& Trust
Average.
in C .-H . Aver. Cos. Average.
Capital as o f N ov. 1 0 ..
S
133,350,000
S
133,350.000
S
74,731,000
$
208,081,000
Surplus as of N ov. 10. .
196,577,100
196,577,100
183,170,000
379.747,100
Loams and Investments 1,224,180.800 T ,223,743,200
Change from last week
+ 6,246,800 | +2,671,900
1,106.404,400 2,330.147,600
+3.096,000
+ 424,100
Deposits ........................ 1,189,339,900 1.189.066,600 ol,055,061,600 2,244,128,200
+ 7,033,900
Change from last week
+ 7.522,200
— 488,300
+ 9,447.300
[.Change from last week
239,201,900
+3,522,800
239,495,000
+ 4,886,000
117,134,300
— 665,400
356.629,300
+ 4,220,600
Change from last week
68,028,800
— 604,700
67.839,600
+ 162,900
621,417,900
— 212,000
89.257,500
— 49,100
cl38.552.200
— 877,400
445,886,800
+ 4,171,500
23,255,500
— 679,800
469,142,300
+ 3,491,700
Aggr’ te m oney holdings
Change from last week
307,334,600
+ 5,018,900
307,230,700
+ 2.918,100
Money on deposit with
|
Change from last week
1
23,255,500
— 679,800
Change from last week
307.230.700 1 307,334,600
+ 2,918.100 | +5,048,900
161,807,700
— 1,557,200
Percentage to deposits
40,200,0
201.022,0
55.465,0
55,465,0
55,465,0
55,465,0
252.395.0
253.075.0
253,030,0
252,716,0
21,994,0
3,359,0
70.644,0
68,372,0
67,212,0
67,215,0
238,996,0
7.786,0
158.674,5
303.421.0
300.158,0
299,712,0
299,615,0
15,755,0
15,743,0
15,739,0
15,766,0
166,807,3
146,165,5
147,914,8
143,912,0
a Includes Government deposits and the Item “ due to other banks.” A t Boston
Government deposits amounted to $3,074,000 on December 24. against $3,094,000
on December 17.
Im p o rts and E x p o rts for the W e e k . — The following are
the imports at New York for the week ending Dec. 24; also
totals since the beginning of the first week in January.
FO R E IG N IM PO RTS A T N EW Y O R K .
For week.
1910.
Dry goods_______________ _
General merchandise_______
1907.
1908.
1909.
$3,990,421
14,073,721
$3,349,306
8,721,700
$3,657,158
13,896,244
$3,042,367
7,416,807
Total ........................ ............ $18,064,142 $17,553,402 $12,071,006 $10,459,174
Since January 1.
D ry goods................................. $155,986,672 $167,163,680 $126,363,793 $181,582,009
General merchandise_______ 735,467,057 705,042,313 506,661,684 639,192,775
Total 51 weeks..................
$891,453,729 $872,205,993 $633.025,477 ^$820,774,784
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Dec. 24 and from Jan. 1 to date:
17.1%
17.2 7c
25.88%
25.61%
25.83%
D ec. 24—
Phila.
Dec 3 —
Dec. 1 0 ..
Dec. 1 7 Dec. 2 4 ..
10.067,950
+ 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 SI. 153.302,300, an Increase of $946,500 over last week. In
the case o f the Clearing-House banks, the deposits are "n et” both for the average
and the actual figures. 6 Includes bank notes, c Of this amount State banks held
114,976,000 and trust companies $123,575,600.
E X P O R T S FROM N E W Y O R K .
For the week.................... ........
Previously reported...............
1910.
1909.
1908.
1907.
$9,220,948
667,617,173
$11,230,288
608,124,862
$7,623,440
619,919,138
$13,324,017
628,153,362
Total 51 weeks.'.................. $676,818,121 $610,355,150 $627,542,578 $641,477,379
The averages of the New York Clearing-House banks
with those for the State banks and trust companies
The following table shows the exports and imports of
in Greater New York outside of the Clearing-House compare
specie at the port of New York for the week ending Dec. 24
as follows for a series of weeks past:
and since Jan. 1 1910 and for the corresponding periods in
CO M BIN ED RESU LTS O F BAN KS AND T R U S T COM PANIES IN
G R E A T E R N EW Y O R K .
1909 and 1908:
W e omit two ciphers in all these f Inures.
co m b in e d
EXPORTS
Week
Ended.
Oct.
Oct.
N ov.
N ov.
Nov.
N ov.
Dec.
Dec.
Dec.
Dec.
22. .
29—
5 ..
12. .
1 9 ..
2 8 -.
3 ..
10. .
1 7 ..
2 4 ..
i Loans and
Investments.
Deposits.
S
2,365,975,6
2,358,583,0
2,361,503,2
2,340.407,7
2,309,880,1
2,309,843,3
2,326,760,7
2,337,587,5
2,327,051,0
2,330,147,6
$
2,287,487,9
2,273.041,0
2,271,515,7
2,248,637,7
2,227,664,7
2,232,760,3
2,245,922,5
2,246,876,1
2,237.094.3
2,244,128,2
Specie.
S
367,935,1
361,544,7
357,460,7
355,905,1
363,380,5
305,901,8
361,995,1
353,478,3
352,408.7
356,629.3
Legals.
$
88.4S1.0
89,325,5
88,230,4
87,892.2
88,339,0
89,829,6
89,282,8
88,161,3
89,306,6
89,257.5
$
458,416.1
453,870,2
445,697,1
443,797,3
451,719,5
455,731,4
451,277,9
441.639,6
441.715,3
445,886,8
S
480,863.0
477.425,5
470,422,9
407,943,4
474,847,4
478,744,6
475,117.2
465,630.4
465,650,6
469,142,3
.Reports of Clearing Non-Member Banks.— The following
is the statement of condition of the clearing non-member
banks for the week ending December 24, based on average
daily results:
W e omit two ciphers ( 00) in all these f inures.
til
,
Banks.
Capi
tal.
Sur
plus.
Loans,
JL/l-iC Its
and
Invest
ments.
Specie.
Legal
Tender
and
Bank
Notes.
Deposit with
Clear
ing
Agent.
Other
Net
Banks, Deposits.
A-c.
N. V. City
Boroughi of
M a n .it Brx.
S
S
S
$
$
S
$
$
Wash. H ’ts
41,0
131,0
100,0
143,0
17,0 1,185,0
274,3 1,223,0
56,7
Century . . .
165,9
137,5 1,464,0
41,2
250,0
155,6 1,389,9
593.4
214,4
Colonial . . .
461,3
391,4
787,6
7,018,3
400,0
5,651,0
834,0
82,0 7,305,0
Columbia . .
642,0
603,0
300,0
775,8 6,283,0
Fidelity . . .
88,9
92,2
96,1
1,053,1
172,5 1,022,4
200,0
Jefferson___
174,2
204,0
317,5
800,7 3,892,6
500,0
537,5 3,072,0
102,4 3,201,7
419,8
‘•>7,5
317,8
Mt. Morris.
250,0
313,9 2,541,5
—
41,4
361,1
3.809.0
M utual____
379.5 3,228,9
540,3
200,0
5.011.0
Plaza . . . .
347.0
397,0
513,0
100,0
462.0 4,234,0
49,3
1,949,6
200,0
110.6 1,844,7 100,3
23d W a r d ..
194,8
482.0 4,042,6
261,4 5,096,0
70,0
688,3
216,6
Yorkville . .
100,0
257,0
85,0
224,0
24,0 2,530,0
New N e th ..
200,0
259,8 2,377,0
___ 1,289,2
160,4
56,4
61,1
164,0 1,628,2
Bat. Pk. Nat.
200,0
72,6
22,2 1,927,1
Aetna N at.
399,3
36,9
300,0
315,7 2,072,0
Borough o f
Brooklyn.
Broadway .
304,1
200,0
534,2 3,278,7
56,3
426,7
147,1 3,613,6
Mfrs.’ N at.
252,0
838,4 5,468,5
521,5
190,2
145,0 5,990,5
830,6
Mechanics’ . 1,000,0
882,0 11,382,6
363,7 1,258,8 1,562,9
215,5 14,675,2
750,0 1,018,1 0,861,0
Nassau Nat.
0,772,0
562,0
274,0
980,0
300,0
014,9 3,765,0
570,0
Nat. C it y ..
105,0
617,0
175,6 4,850,0
200,0
149,5 2.112.7
116,6
199,0
North Side.
144,8
88,0 2,406,1
623,9 3,468,0
300,0
First N a t ..
79,0
410,0
313,0
38,0 3,122,0
Jersey City.
400,0 1,264,0 5,164,9
304,1
296,6 4,384,8
First N a t ..
144,0 8,852,1
763,1 3.097,2
52,1
336,3
250,0
149,5
86,4 2.722.5
Hud.Co.Nat
400,9 2,187,6
46,2
138,8
410,0
Third N a t ..
200,0
28,9 2,408,9
Hoboken.
First N a t ..
20,5
167,6
626,0 3,105,1
220,0
148,3
76,3 2,776,9
Second Nat.
267,4 2,769,8
72,7
73,7
125,0
108,7
235,0 2,941,2
' MS
T ot. Dec. 24 7,497,0 12,777,0 93,271,9 6,585,2 7,057,6 14,158,2 3,040.8 107862,6
T ot. D ec. 17 7.497.0 12,777,0 93,219.3 6,693,6 7,064,5 14,858.5 3,061,1 108534,5
T ot. D ec. 10 7,497,0 12.777,0 92,820,0 6,636,3 7.278,6 12,916,8 2,913,9 106086,6
i
AND
IM PO RTS OF SPECIE
Tot. Monet/ Entire Res
Holdings. on Deposit.
AT
N EW
Imports.
Exports.
Qold.
Total 1910..............
Total 1 9 0 9 - .....................................
Total 1908..........................................
Silver.
France
Germany
West Indies
_________________
Mexico
_______________
South Am erica____________________
All other countries
Total 1910..........................................
Total 1909.........................................
Total 1908..........................................
StnceJan.l.
StnceJan.l.
Week.
$32,150,000
'" 4 ,4 5 5
3,551,827
3,000
9,693,760
41,900
$79 $13,469,815
3,618,893
3,056
314
1,113,792
a'0!U52
299,120
511
2,262,801
40,863
1,720,845
$12,700 $15,444,948
1,389,550 95,039,667
901,010 54,901,565
$253,661 $22,485,580
8,896.060
49,230
171,828 17,085,459
Week.
Great Britain ............................ ..........
France ........... .............. ............ ...........
Germany .............................................
West Indies . . . .
Mexico ..................................................
South A m e r ic a ...______ __________
AH other countries........................ ......
YORK.
$12,700
$795,095 $39,257,898
2,291,700
720,456
74,942
83
25,000
8,435
$29,492
1,164
4,098
89,194
92,825
16,381
$828,613 $42,454,202
601,059 42,181,223
684,007 42,108,307
$123,948
44,117
61,099
$42,836
7,179
13,310
83.515
1,763,401
1,341,078
1,628,601
$4,870,980
5,328,530
4,515,943
O f the above imports for the week in 1910, 8 ---- were
American gold coin and $ ... American silver coin. Of
the exports during the same time, 812,700 were American
gold coin and 8200 were American silver coin.
gatxM t x q anti ffin im ctu L
Railroad and Industrial Stocks
L c f u s s e n d y o u o u r c ir c u l a r d e s c r ib in g 1 10 I S S U E S o f l is t e d R a i l
r o a d a n d I n d u s t r ia l S t o c k s .
Spencer Trask & Co.
43 E X C H A N O E P L A C E .- - C h i c a g o , III.,
B o s t o n , A l a s s .,
NEW YO R K .
A lb a n y . N . Y .
M em b ers N ew Y ork Stock E xch a n ge.
W H I T E ,
W E L D
&
CO.
Alembers New York Stock Exchange.
5 N ASSAU S T R E E T .
NEW YORK
TH E RO O K ERY.
C H IC A G O
Deo. 311910.)
THE CHRONICLE
A B iJ T R A O r F R O M R E P O R T S O F T H E N A T I O N A L
72
Maine_____________ . . . . . . -------New Hampshire---------------------V erm on t____. . . --------. . . . . . . .
Massach uset ts------- ---------- ------------B o ston
. . . . . __ . . . . . . . .
Rhode Island_________________
Connecticut____________________
68
51
170
20
22
79
New England States.
New Y o r k . . ............. ......
New York City______
A lb a n y .._______ ____
Brooklyn _______ I . .
New Jersey____________
Pennsylvania......... ......
Philadelphia
______
Pittsburgh___________
Delaware ............. ..........
Maryland_____________
B a ltim ore_________ I
District o l C olu m bia...
W ashington________
194
707
33
24
28
90
19
120
103
457,050,873
4,550,166
480,332,517
11,885,075
10,055,260
3,401,471
13,300,289
90.404,496 144,432,090
7,104,512
63,186,810
9,560,356 2,030,203,513
155,000,570
73,981,660
608,482,749
8,397,458
671,262,218
12,949,843
16,617,060
0,252,195
7,864.648
34 950,880
13.900.000
0,350,000
3.750.000
21.108.000
0,300,000
30.595.000
41.400.000
10,010,858
7.250.000
4.050.000
1.240.000
8,211,533
2.494.000
15,720,457
22,288,500
4,830,603
1.850.000
3,940,706
2,000,000
6,312,134
5,094,750
3.140.000
6,773,898
300.000
405.000
130.000
2,412,730
2.609.000
550.000
12,060.000
178,842,921
44,415,424
37,943,931
19,527,588
109,345,297
22,086,304
179,482,977
195,286,140
74,608,992
28,810,605
649,016
1,199,167
258,214
103.000
1,174,586
367,609
1,298,489
991,697
531,715
458,587
292.000
649,815
192,980
151,544
840,519
357,937
31.000
188,904
43,942
17.000
588,022
111,595
534,246
168,202,193
61,373,284
50,347,813
17,342,478
96,419,766
29,133,731
159,690,253
281,063,371
62,610,855
31.788,393
62,671,739
38,609,529
81,578,358
48,761,604
28,364,681
103,364,941
5,944,745
10,206,129
2,449,307
25,885,362
49,543,011
10.027,938
110,030,444
4,484,376
955,998
1,994,870
768,088
3,068,312
981,527
4,430,36'
5,312,48
2,295,708
1,899,715
1,977,652
1,002,502
2,897,470
2,665,830
2,393,409
2,582,893
69,662
335,003
152,365
822,203
1,820,158
515,020
3,501,269
3,282,070
4,028,010
3.575.000
870,010
2,273,900
2.490.000
3,772,030
31,686,640
1,083,440
393,720
1,741,190
1,556,700
1,418,890
1,808,320
041,020
2,012,470
309,350
365,890
65,000
363,490
2,115,740
337,710
15,701,290
1,031,206
107,396
174,929
115,544
838,037
169,352
1,188,021
586,511
110,760
135,383
404,972
504,555
183,707
207,583
739,989
32,822
95,685
23,041
275,277
403,954
143,559
236,348
133,213
1,224,387
1,470,290
924,068
252,302
1,066,662
409,169
1,527,316
15,161,448
464,285
167,603
498,686
1,281,553
010,279
85,730
445,485
033,025
106,825
151,880
53,535
217,1)54
1,844,120
128,127
3,621,439
271,038,000 130,000,175 1,423,841,352 13,138,690 1,544,421,955
40,910,741
81,892,480
8,201,904
32,346,174
9,491,300
5.150.000
10.685.000
5.750.000
11,8(11,000
6.900.000
4.100.000
18,036,120
400.000
2,000,000
600.000
0,505,000
6.600.000
1,100,000
21.100.000
2,035
149
82,227,626
39,020,101
92,238,378
40,445,124
20,344,421
97,800.431
2,327,028
6,420,393
2,243,448
20,805,920
36,921,718
6,933,401
73,037,158
41
217
4
7
5.285.000
4.040.000
9.905.000
1,000,000
3.600.000
850.000
10,512,500
1,000,000
300.000
400.000
4,707,850
1.685.000
6,473,100
3.100.000
500.000
2.070.000
8,642,500
700.000
1.350.000
1,604,035
1,030,395
3,697,985
330.000
2.055.000
420.000
4,119,340
750.000
145.000
517.000
2,420,276
981,300
2,754,480
2.605.000
415.000
807,500
2,405,113
190.000
202.000
28,584,091
29,494,872
49,743,373
4,532,452
26,487,740
5,664,958
56,054,334
4,885,248
2,537,701
4,033,689
32,255,272
13.548,902
40,534,159
38,094,442
8,929,432
11,909,066
35,745,114
3,421,762
0,600,911
321,616
595,809
04,435
51,902
!'°1.441
2.000
492,123
1,000
150,717
3,000
720,669
280,357
158,800
1,203,133
80,742
289,015
382,314
152,439
253,000
28,407,813
26,393,189
51,549,179
5,811,630
28,120,665
6,039,765
51,385,131
8,779,891
1,870,400
3,439.480
28,349,104
11,437,515
30,207,687
20,925,580
4,218,715
10,921,689
29.094,194
3,157,614
6,971,306
140,078
179,805
57,575
1,557,859
511,918
1,568,148
3,208,595
302,538
417,150
668,043
74,770
277,803
1,173
06,270,950
27,355,424
403,057,518
0,125,512
360,680,553
15,809,454
67
5
6
100
223
4
7
4
200
3
3
50
29
115
0
3
W ashington......... ........
Seattle........................
S p o k a n e ...........
T a com a ____________
Oregon_____ . . . . . . . . .
P ortla n d ...................
C aliforn ia____________
Los Angeles________
San Francisco______
I d a h o _____ _______ _
U t a h ..............................
Salt Lake City_____
N eva d a _____ ____ ____
A rizona........................
Alaska (Sept. 1 1910).
2
4.075.000
3.700.000
3.400.000
500.000
3.911.000
3.250.000
16,307,800
5.350.000
27,750,000
2.070.000
1.030.000
1.750.000
1.792.000
980.000
100.000
439
70,565,800
30,212,612
4
1
610,000
100,000
183,307
17,500
710,000
200,867
2
71
4
171
9
10
47
10
6
12
13
Pacific States.
Hawaii-----Porto Illco.
Island Possessions.........
7,204
M
j Boston.
58,054,093
357
8
7
9
254
7
424
North Dakota____
South Dakota____
Nebraska________
L in c o ln ......... ..
O m a h a .............
South O m aha..
K a n s a s ........... ..
Kansas C it y ___
T o p e k a ___. . . .
W ich ita.............
M ontana________
W y o m in g _______
C olorad o________
Denver________
P u eblo________
New M exico_____
O klahom a_______
M uskogee_____
Oklahoma City.
£
!
I
$
S
f i o 22 10 210
56 2 1 18
151 '> 4 30
32 1 1 7
85 18 4 86
j
i
140
18
29
21
2 .. __ 1 1
12 161 2 1 21 12
11 40 __ 1 a 4
47 1 1 4 6
5
19 241 1 1 21
6
3D
I
C a p ita l_______
~120 ^2 ^2
Sur. & un. prof. 29 167 3 3 41
Circulation____
8
49 J 1 17
Duo to ban ks.. 85 559 33 6 151
Duo depositors. 106 723 14 18 172
Other liabilities
1
13
1
1
L . 7<zl
Tender
Notes.
435,191
411,080
321,747
3,278,211
4,916,393
687,745
1,383,882
1,706,438
12,233,150 3,384,726
0,501.832
I j
$
__
--
0,084,704
362.376,361
1,514,512
J
I
l
►
«*
5,450,644,386 223,280,411 270.542,020 31,291.801 121,032,160 169.924.20rf
jj
Is
$
29 284
5 19
4 20
1 3
11 09
i
*
J
3 55 l l
§ I
14
3
1
0,
j
2
e
J
9
53 i f
1
3
~5
4
3
10
18
4
Ti ~4
5 2
3 3
13 10
24, 23
-- --
~3
2
3
3
14
1
|
ft
>1
9
8
0
3
i
|
i
I
1
|i
|
•si
j
1
1
l l
O
J
s
s
$
S s
28 *8 10 l o 11) i f o *o 35 *9 *5 31 *9 48 18 3*5 1S7 *82,688 2.81Q s .fo s
3
1 2 4 1 19 i 4 1 1 4 2 6 4 6 2 0 2 281 481
•U
1
3
3
10
3 1 1 11 1 5 3 0 [4 2 364
492
OJi
1 1 l
1
4
1
1
1 6
2
109
135
'9 11 18 9 " 2 '3 27 '4 43 ” 2 12 ■§ '3 20 'a 13 ‘ 0 11 48 '8
707
610 | I H
1 1
1
1
16
28 * 4 i
3 37 *5 3 6 3 “ i 1 4 1 19 ‘ I 3 1 1 6 1 9 0 6 15 1 362
132
jta
1 10 l 1
1
1
1
1
4
2
102
1 1
4
x
2 :*
*i
1 22 2 1 '2 1
17rt
112
20 1
2 2 "2
5 ‘i
6 II 4 ■J ' i 2 ‘ i "2 ~2 3 " 6 'I
363
56
41$.
*
3*2 39 49
3 5 4
4 4 3
5 44 50 48 20 43 Io7 94 33 56 497 54 67 IT 51 ~15 17 ~97 17 218 To 04 10
~27 T l
1
33 10 B 1
hi
8 6 1
71 29 5
117 48 24 ' i
2
4 2 i
3,629,565
2,110
388,076,345
$
$
58 22 *3 24 2*02*8 13 24 h Jo f t
1 4 4 3 3 0 § 6 3
9
2
K 4
1 2 8 8 3
2 'l 2 1
4 1 1
3 3
21 6 ' l 7 12 8 4 '7 14 15 6
1
l
'"■j '2
nl
2 i 3
*2 8 6 '2
3 1
2 1
1 i 1 1
1
1 2 ‘ I 2 2 'I
4
1 1
'2 1
-- 2 4
..
50,426,844
173,470
237,111
333,357
30,650
019,007
24,081
521,148
29.820
36,344
63,975
103,535
62,332
241,11"
188,18
35,871
70,954
396,833
53,468
101,099
27,242,341
21,258,285
90,736,200
36,445,159
85,339,612
16,722,397
0.782,289
8,969,998
5,931,652
6,193,072
1,068,564
i
14,79Q,13I
===63,870
60,229
148,395
1,941
02,541
16.691
143,457
41,861
36,745
47,405
8,214
22,181
4,329
52,095
~0 T l ~9 *4 ~6
4 10 6 2 4
4
8 6 3 4
10 26 31 4 16
19 46 38 20 23
3 4 — 3
^41
30
111
209
*5 1 )
3 4
2 5
14 12
100 29 40
3 1
7
7 4
3 2
20 11
41 27
312 L631 53 30 404 266 Too 47 ~5 44 50 48 26 43 107 94 33 56 497 54 67 84 51
646,858
815,470
1,535,081
344,380
1,500,805
348,880
27,668,344
31,375,058
16,440,842
004,288,107 052,462,480 5,304,788,300
e
«!
1
d
£ tq tq
1 •3 4} 41
IT ota ls................ 312 L631 53 30 404 286 109 47
T o ta ls ___. . . . .
342,552
303,337
• 153,034
1,946,463
9,050,869
444,807
1,059,227
1.400
10
Gold................
120,998
137,446
105,099
689,575
1,945,257
94,342
308,154
8
101
0
200
0
0
317
3
4
3
105
10
4
ISilver__________
I Legal tenders..
IOther resources
554
54,660
228,420
138,030
1,422,270
0,511,840
432,870
767,170
1,008,830
825.300
419,910
233.320
674,720
83,000
430,070
959,080
447,200
328,750
1,141,450
2,525,490
467.320
160,000
192,010
1,870,570
712,710
178.300
362,420
910,960
1,472,200
1,207,240
11
Loans, dlso.,&c. 185
12
U. S. bonds____
10
Stocks, bds.,*c.
7
Real estate, <fco.
Due from banks 49
2
Nat. bank notes
1,192,819
503,228
410,184
2,301 375
5,324,945
364,381
1,718,143
1,638,136
1,100,855
424,446
180,927
447,555
5,127
377,983
617,645
125,539
185,517
851,793
2,351,492
405,612
179,070
120,240
564.190
300,790
135,438
274.190
855,087
351,255
1,269,756
98
4
s
34,121,201
18,452,128
17,505,730
120,785,714
185,258,344
31,185,281
63,824,053
84,744,441
42,621,042
34,080.478
22,189,453
52,906,272
2,914,701
28,110,814
31,965,754
11,674,588
16,234,675
24,151,663
110,240,732
16,800,015
9,560,523
3,815,632
23,899,182
7,707,584
6,510,369
17,620,907
42,799,207
23,805,817
57,902,369
122
1
256,037
292,886
127,821
300,000
3,035,053
227,930
310,439
1,575,738
422,031
550,645
214,118
516,433
177,183
463,269
316,004
58,703
7.000
245,200
559,197
180,009
2.000
78,896
52,000
238,855
40,052
87,075
739,354
1,070,182
762,314
Ohio .................
Cincinnati . . ,
Cleveland . . ,
Columbus . . .
Indiana_______
Indianapolis
Illinois...............
C h icago____
M ichigan_____
Detroit_____
W isconsin____
M ilwaukee...
Minnesota .
Minneapolis_____
St. Paul...............
Iow a______________
Cedar Rapids . . .
Des Moines_____
Dubuque _______
Missouri....................
Kansas City . . . .
St. Joseph______
St. Louis_______
Totals for
Reserve Cities, Ac.
In Millions.
99,625,650
17,014,070
18,300,000
3,877,900
11,007,800
37,936,757
20,105,986
17,531,831
127,907,634
163,244,406
28,627,226
61,703,033
1,800,485
.73,652,398
44.091,084
26,268,062
18,310,939
43.795.612
1,144,301
28,088,581
32,911,447
12,768,304
13,802,804
17,511,710
115,153,070
15,568,214
8,047,939
3,152,209
20,117,879
8,778,105
5,141,207
15,312,911
30.914.613
17,811,778
52,080,802
6
6
6
45
141
United S ta te s ........... ..
3,344,050
2,709,818
Silver
Treasury
Certificates.
Gold and
Gold
(Sold C'.'Q-H Treasury
Certificates Certificates
10,229,266
4,842,445
2,397,975
1,599,830
0,572,141
500.000
2,236,220
4,015,100
1,381,441
2,017,366
2.965.000
15,077,114
1.800.000
1.850.000
225.000
1.375.000
910.000
486,750
1,035,200
4,501,448
2.055.000
4,709,304
3
Western States.
8, $ 3 ,7 0 0
5.460.000
5.210.000
31,217,500
22,950,000
0,700,250
19,914,200
Loans
and
Discounts.
Other.
Individual.
15,743,500
9,092,470
8,010,000
5.022.500
12,564,210
750.000
5.700.000
8.750.000
3.415.000
2.880.500
5.200.000
31.780.000
2.650.000
2.175.000
025.000
3.600.000
2.100.000
1.270.000
4.155.000
12,121,360
5.495.000
11.895.000
75
41
113
2
43
80
32
20
4
488
4
7
Middle Western States.
Surplus.
334,410,537 326,657,758 2.022,158,957
1,020
Virginia_________________
West Virginia___________
North C arolina..________
South Carolina__________
G eorgia___. . . . . . . . . . . . .
Savannah _____ _______
Florida....... ...........................
Alabama . . . . _____ ______
Mississippi_____ ______ . . .
L ou isian a_____ __________
New Orleans___________
Texas ..................................
D a lla s .............................
Fort W orth____________
Galvestnn
_____ . . . . .
H o u s to n _____________
San Antonie___________
W a oo................................
Arkansas________________
K en tu ck y _____ ____ _____
Louisville . . . . . . ___. . .
Tennessee_______________
Southern States..............................
Capita1..
46,379,887
119,900,000
2,100,000
1,802,000
21.572.000
00,293,505
22.655.000
26.700.000
2,373,985
5,291,450
13.290.710
252,000
5.800.000
400
39
Eastern States.
B A N K S M A D E TO T H E C O M P T R O L L E R N O V . 10, 1910.
Deposits.
N o. o1
Banks
N ov. 10 1010
1749
H
7 1
1 1 4 1
1 1
4 1
7 6 45 7
5 7 37 7
12 79 20 80
21 i 4 "T 1
4
17 i 4 1 1 4
18 i 3 1 1 8
87 3 20 8 2 19
74 4 32 5 7 48
1
1
1
15 17 97 17 218 10 64 16
12 79
39 68 216 17 5,104 4,852 9J66
426
~2 *8 l i 5
578 f S Sut
1 4 2 6 22 1 44?
448 jD
1 4 2 .5 18 2 240
440 1 H
5 14 9 14 01 3 1.050
250 1,00ft
10 50 22 37 Si) 9 2,287 3,066
lift
48
70
1
1 1
1
20 86 39 68 216 17 5,1 0 ? 4,852 0.95*
1
i B
•
[Voi. LXXXXI.
THE CHRONICLE
1750
a
n
k
e v s '
( S
a a e
t t e
.
Wall Street, Friday Night, Dec. 3 0 1 9 1 0 .
T h e M o n e y M a r k e t a n d F in a n c ia l S it u a t io n .— B u sin e s s a t
th e S t o c k E x c h a n g e d u r in g th is b r ie f h o lid a y w e e k h a s a g a in
b e e n c h a r a c te r iz e d b y a s te a d ily in c r e a s in g d e m a n d f o r b o n d s ,
th e la tt e r in c lu d in g c h ie fly m u n ic ip a l a n d
r a ilw a y issu es.
A t th e s a m e tim e th e d e m a n d f o r s t o c k s h a s fa lle n to th e
lo w e s t r e c o r d s in c e th e e x c e p t io n a lly d u ll p e r io d e a r ly in
S e p te m b e r.
I t is w ell k n o w n th a t a p a r t o f th e e n o r m o u s
a m o u n t w h ic h w ill b e d is t r ib u t e d o n J a n . 1 w ill n a t u r a lly
s e e k in v e s t m e n t , a n d it is e v id e n t th a t s o m e o f th e b u y in g
o f b o n d s th is w e e k is in a n t ic ip a t io n o f s u c h d is t r ib u t io n a n d
a t th e s a m e tim e t o ta k e a d v a n t a g e o f th e p r e se n t lo w p r ic e s .
A d v ic e s e a r ly in th e w e e k f r o m W a s h in g t o n r e la t iv e t o th e
p la n o f th e G o v e r n m e n t in its p r o p o s e d le g a l a c t i o n a g a in s t
th e tw o la r g e s t e le c t r ic a l c o m p a n ie s in c r e a s e d th e t e n d e n c y
t o c a u t io n w h ic h fo r s o m e tim e p a s t h a s e x is t e d in fin a n cia l
c ir c le s ; b u t th e a n n o u n c e m e n t o f a b a n k fa ilu r e in th e n o r t h
e r n p a r t o f th e c i t y w a s a p p a r e n t ly w it h o u t e ffe c t in W a ll
S t r e e t.
_
R a ilw a y tr a ffic r e p o r ts h a v e b e e n d e c id e d ly ir re g u la r,
e s p e c ia lly a s to n e t e a r n in g s , b u t p r a c t ic a lly all s h o w th e
e ffe c t o f a rig id s y s t e m o f e c o n o m y .
H o w lo n g s u c h e c o n o m y
c a n b e k e p t u p w it h o u t u n fa v o r a b le re su lts is o n e o f th e
q u e s t io n s s u g g e s te d .
C all lo a n ra te s a re h ig h e r , a s is u su al a t th e c lo s e o f th e
y e a r a n d th e r e a d ju s t m e n t s in c id e n t th e r e t o .
Call lo a n s
h a v e b e e n m a d e t o - d a y a t 7 % , th e h ig h e s t r a te q u o t e d sin c e
th e e a r ly p a r t o f th e y e a r ; b u t tim e lo a n ra te s a re n o t m u c h
ch an ged .
T h e o p e n m a r k e t ra te s f o r call lo a n s a t th e S t o c k E x c h a n g e
d u r in g th e w c o k o n s t o c k a n d b o n d c o lla te r a ls h a v e r a n g e d
fro m 2
to 7 % .
T o - d a y ’ s ra te s o n call w ere 5 @ 7 % .
C om
m e r cia l p a p e r q u o t e d a t 4 @ 4
fo r CO t o 9 0 -d a y e n d o r s e
m e n ts , 4 @ 4 1
/ 2 % f o r p r im e 4 t o 6 m o n t h s ’ sin g le n a m e s a n d
4 % @ 5 % f o r g o o d sin g le n a m e s.
T h e B a n k o f E n g la n d w e e k ly s ta t e m e n t o n T h u r s d a y
s h o w e d a d e c r e a s e o f b u llio n o f £ 1 ,5 0 8 ,3 4 8 a n d th e p e r c e n t
a g e o f re s e r v e t o lia b ilitie s w a s 3 7 .8 0 , a g a in s t 4 6 .3 5 la s t w e e k .
T h e r a te o f d is c o u n t r e m a in s u n c h a n g e d a t 4 J ^ % , as fix e d
D e c . 1. T h e B a n k o f F r a n c e s h o w s a d e c r e a s e o f 9 ,2 7 5 ,0 0 0
fr a n c s g o ld a n d 1 ,1 2 5 fr a n c s s ilv e r .
N E W Y O R K C IT Y CLEA RIN G-H O U SE BAN KS.
1910.
Averages fo r
week ending
D e c . 21.
Differences
from
previous week.
S
1909.
Averages fo r
week ending
Dec. 24.
1908.
Averages fo r
week ending
Dec. 26.
$
S
126,350,000
127,350,000
165,447,700
180.024,400
1,197,479,600 1.276,745,300
49,129,600
52,611,100
1,179,731,300 1.322,151,900
9,265,500
1.758,400
235.778.600 269,198,600
78,262,700
69,299,500
S
133.350,000
196.577,100
1.223,743,200 Inc.
48,378.100 Dec.
1.189,006,600 Inc.
1,767,800 Inc.
U . S. dep. (Incl. above)
239,495,000 Tnc.
67.839.600 Inc.
2,671,900
111,700
7,522,200
77,600
4,886,000
162,900
25 % of deposits..............
307,334,600 Inc.
297,260,650 Inc.
5,048,900
1,880,550
305,078,100
294,932,825
Surplus reserve.........
10,007,950 Inc.
3,168,350
10,145,275
16,923,325
Surplus, excl. U. S. dep
10,509,900 Inc.
3,187.750
10.584,875
19,239,700
347,461,300
330,537.975
H ole.— The Clearing House now Issues a statement weekly showing the actual
condition of the banks 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 o f State banks and trust com
panies not reporting to the Clearing House, appear on the second page preceding.
F o r e ig n E x c h a n g e .— R a te s s c a r c e ly m o v e d d u r in g th e
w c o k u n til y e s t e r d a y , w h e n d e m a n d a n d c a b le tr a n sfe r s
b r o k e 3 0 p o in ts a n d th e n r e c o v e r e d to th e p r e v io u s d a y ’ s
le v e l, 4 8 5 @ 4 8 5 1 0 fo r d e m a n d a n d 4 8 5 4 5 ® 4 8 5 5 0 fo r ca b le
tr a n s fe r s.
T o - d a y ’ s ( F r i d a y ’s) n o m in a l ra te s f o r s te r lin g e x c h a n g e
w e re 4 83 f o r s i x t y d a y a n d 4 8 5 Yz f o r s ig h t.
T o -d a y ’s ac
tu a l ra te s fo r s te r lin g e x c h a n g e w e re 4 8 1 9 0 .@ 4 82 f o r s ix t y
d a y s , 4 8 4 9 0 @ 4 8 5 1 0 f o r ch e q u e s a n d 4 8 5 3 4 @ 4 85 Lj fo r
c a b le s .
C o m m e r c ia l o n b a n k s 4 8 1 j ^ @ 4 8 1 % a n d d o c u
m e n ts f o r p a y m e n t 4 8 1 % @ 4 8 1 2 4 .
C o t to n f o r p a y m e n t
4 8 0 % @ 4 81 a n d g ra in f o r p a y m e n t 4 8 i % @ 4 8 1 2 4T o - d a y ’ s ( F r i d a y ’s) a c tu a l ra te s fo r B a ris b a n k e r s ’ fr a n c s
w e re 5 2 2 3 4 less 1 - 1 6 @ 5 2 2 3 4 fo r lo n g a n d 5 2 0 2 4 less 1 -3 2 @
5 2024 fo r s h o rt.
G e r m a n y b a n k e r s ’ m a rk s w e re 9 4 2 4 ©
9 4 7 -1 0 fo r lo n g a n d 9 4 % @ 9 4 1 5 -16 less 1-32 fo r s h o r t .
A m s t e r d a m b a n k e r s ’ g u ild e r s w ere 4 0 3 -1 6 p lu s 1 - 3 2 ©
4 0 3 -1 6 p lu s 1 -16 f o r s h o r t .
E x c h a n g e a t P a ris o n L o n d o n , 2 5 f. 2 6 3 4 ° .; w e e k ’ s ra n g e ,
2 5 f. 2 8 c . h ig h a n d 2 5 f. 25 24c- lo w .
E x c h a n g e a t B e r lin o n L o n d o n , 2 0 m . 4 4 p f.; w e e k ’s r a n g e ,
2 0 in . 4 4 3 4 p f. h ig h a n d 2 0 m . 4 2 % p f . lo w .
Sterling, Actual—
Sixty Days.
High for the w e e k ___________4 82)4
Low for the week____________4 82
Darts Hankers' Francs—
High for the w e e k ................. . 5 22)4
Low for the week....... ...............5 23 %
Germany Hankers’ Marks—
High for the week ................... 94 7-16
Low for the week...................... 94 5-16
Amsterdam Bankers' Guilders—
High for the w e e k .................... 40 06
Low for the week................... 40
Cheques.
4 8540
4 8480
Cables.
4 8585
4 8520
5 20 less 1-16
5 20% less 1-16
5 19% less 1-16
5 20 less 3-32
95 less 1-32
01% less 1-32
95)4
95
40 25
40 20
40 30
40 25
T h e fo llo w in g a re th e ra te s f o r d o m e s t ic e x c h a n g e a t th e
u n d e r m e n tio n e d citie s a t th e c lo s e o f th e w e e k : C h ic a g o ,
1 0 c. p e r $ 1 ,0 0 0 d is c o u n t .
B o sto n , p a r.
S a n F r a n c is c o ,
6 0 c . p e r $ 1 ,0 0 0 p r e m iu m .
C h a r le s to n , b u y in g , p a r; sell
in g , l - 1 0 c . p e r $ 1 ,0 0 0 p r e m iu m .
S t . L o u is , 5 c . p e r $ 1 ,0 0 0
d is c o u n t .
S a v a n n a h , b u y in g , 3 -1 6 c . p er $ 1 ,0 0 0 d is c o u n t ;
s e llin g , p a r .
S t. P a u l, 8 5 c . p e r $ 1 ,0 0 0 p r e m iu m .
M o n tr e a l,
4 6 % c . p e r $ 1 ,0 0 0 d is c o u n t .
S ta te a n d R a ilr o a d B o n d s .— S ales o f S ta te b o n d s a t th e
B o a r d are lim ite d t o $ 1 ,0 0 0 V ir g in ia 6s d e fe r r e d tr u s t re
c e ip ts a t 4 3 .
T h e m a r k e t f o r r a ilw a y a n d in d u str ia l b o n d s h a s a g a in
s h o w n in c r e a s in g a c t i v it y , th e tr a n s a c tio n s o n T h u r s d a y
a m o u n t in g to a b o u t $ 3 ,4 0 0 ,0 0 0 , p a r v a lu e .
T h e in c r e a s e d
d e m a n d in c lu d e s a la rg e n u m b e r o f issu es, b u t h as n o t r e
s u lte d in a n o t a b ly h ig h e r a v e r a g e o f p r ic e s .
O f a list o f 20
a c t iv e issu es, 9 are f r a c t io n a lly h ig h e r a n d 11 lo w e r .
A m o n g th e e x c e p t io n a l fe a t u r e s is G en era l E le c t r ic c o n v .
5s, w h ic h h a v e d e c lin e d a p o in t , th u s lo s in g a p a r t o f th e
recen t a d v a n ce .
O th e r c h a n g e s a re less im p o r t a n t .
U n it e d S t a te s B o n d s .— S a les o f G o v e r n m e n t b o n d s a t th e
B o a r d are lim ite d to $ 1 ,0 0 0 3 s, c o u p ., a t 102 34 The
fo llo w in g are th e d a ily c lo s in g q u o t a t io n s ; for yearly range
see third page following.
2s,
2s,
3s.
3s,
4s,
4s,
2s.
Interest
Periods
Dec.
24
1930 ____ ......... registered Q — Jan
1930_____ ..............coupon Q — Jan
1908-18.- _____ registered Q— Feb
1908-18.
1925 ____
1925____ ..............coupon Q — Feb
1936.Panama Canal regisjQ— Feb
Hollday.
Dec.
26
Dec.
27
*100%
*10054
Holl- *102
day. *102
*115)4
*115)4
*100)4
D ec.
28
Dec.
29
Dec.
30
*100)4
*100)4
*102
*102
*115)4
*115)4
*100)4
*100)4
*100)4
*102
*102
*115)4
*115)4
*100)4
*100)4
*100)4
*102
*102
*115)4
*115)4
*100)4
* This Is the price bid at the morning board: no sale was mado.
R a ilr o a d a n d M is c e lla n e o u s S t o c k s .— T h e v o lu m e o f b u s i
ness in s t o c k s h a s b e e n e x c e p t io n a lly sm a ll e v e n fo r a du ll
p e r io d , th e tr a n s a c tio n s a v e r a g in g o n ly a b o u t 2 7 0 ,0 0 0 sh a res
per d a y .
T h e te n d e n c y o f p r ic e s w a s d o w n w a r d d u r in g th e
e a r ly p a r t o f th e w e e k , b u t a c tu a l d e c lin e s w e re g e n e r a lly
fr a c t io n a l.
T o w a r d s th e c lo s e o n T h u r s d a y th ere w a s a
m o v e m e n t t o c o v e r s h o r t c o n t r a c t s w h ic h ca u se d a r e a c t io n
a n d a r e c o v e r y a m o u n t in g to a b o u t a p o in t in 't h e a c t iv e lis t.
T o - d a y ’ s m a r k e t h as b e e n th e m o s t a c t iv e o f th e w e e k ,
b u t w ith flu c t u a t io n s n a r ro w a n d n e t ch a n g e s u n im p o r t a n t .
In o n ly a fe w ca ses d o e s th e c h a n g e f o r th e w eek a m o u n t to
as m u c h a s o n e p o in t .
K a n s a s C it y S o u th e r n h as b e e n m o r e a c t iv e th a n u su a l,
a n d is e x c e p t io n a l in t h a t it is n e a r ly 2 p o in t s h ig h e r th a n
la st w e e k .
R e a d in g , S o u th e r n P a c ific , G r e a t N o r t h e r n ,
C a n a d ia n P a c ific a n d A t c h is o n h a v e b e e n r e la t iv e ly s tr o n g .
G en eral E le c t r ic a n d W e s t in g h o u s e h a v e b e e n w e a k o n th e
p r o s p e c t o f lit ig a tio n w ith th e G o v e r n m e n t .
T h e first
n a m e d h a s lo s t n e a r ly 5 p o in ts a n d W e s t in g h o u s e a p o in t ,
b o t h o n v e r y lim ite d sa les.
For daily volume of business see page 1 7 6 0.
T h e fo llo w in g sa les h a v e o c c u r r e d th is w e e k o f sh a res n o t
r e p r e se n te d in o u r d e ta ile d list o n th e p a g e s w h ic h f o llo w :
STOCKS.
Week ending Dec. 30.
Batopllas Mining...........
Buff Rochester & P itts ..
Col & Hock C
I trust
rects, 1st paid----------Comstock T u n n e l---------Cuban-American Sugar.
Keokuk & Des M, p r e f..
St Jos & Gr Isi, 2d pref.
Sales
fo r
Week.
Range since Jan. 1.
Range fo r Week.
Lrncest.
1
Highest.
200 $2
100 104
Dec 27 S2
Dec 28 104
100
200
50
100
100
150
100
420
200
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
9)4
18C.
36
107
100
37
2)4
39
40
30 9)4
29 25c.
30 36
30 107
29 100
29 37
27i 2)4
30 39)4
29 40
Lmcesl.
Dec 27
Dec 28
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
30
30
30
30
29
29
27
27
29
82
95
Highest.
Sept 83)4 Jan
N ov
May 107
Dec
9)4 Dec , 0 ) 4
18c. Dec 36c. Jan
36
Dec 39
July
106
Dec 107
Dec
93
Jan
June 110
37
Dec 42
Oct
2)4 Nov
3)4 Mch
35
Feb 40)4 Dec
38
Feb 40
Feb
O u ts id e M a r k e t .— T h e “ c u r b ” m a r k e t c o n tin u e d e x
tr e m e ly d u ll th is w e e k , w ith a firm er t e n d e n c y t o p r ic e s
m a n ife s te d as th e w e e k c lo s e s .
C o p p e r issu es w ere p r o m i
n e n t in th is r e s p e c t .
B ritis h C o lu m b ia e a se d o ff fr o m 724 t o
7 a n d a d v a n c e d t o 73 4 C h in o w e n t .d o w n fr o m 213 4 t o 203 4
a n d u p t o 2 1 % , th e c lo s e t o - d a y b e in g a t 2 1 3 4F ir st N a
tio n a l im p r o v e d fr o m 134 t ° 2 3 4 G reen e C a n a n e a s o ld u p
fr o m 6 11 -1 6 t o 7 .
I n s p ir a tio n fell fr o m 8 13 -1 6 t o 8 7 -1 6
a n d r e c o v e r e d t o 8 1 1 -1 6 .
M ia m i d r o p p e d fr o m 1934 t o 1 9 34
a n d s o ld u p t o - d a y to 1924R a y C en tra l im p r o v e d fr o m
2 t o 2 3 -1 6 a n d e n d s th e w e e k a t 2 3 4 .
R a y C o n s o lid a te d
flu c t u a t e d b e tw e e n 18 a n d 1834 d u r in g th e w e e k , t o - d a y ’ s
b u sin e ss b e in g d o n e fr o m 1824 t o 1824K e r r L a k e fell fr o m
6 2 4 t o 6 1 1 -16 a n d s o ld t o - d a y a t 6 1 3 -1 6 .
L a R o s e C o n so li
d a t e d w e a k e n e d fr o m 4 9 -1 6 t o 4 3 4 N ip iss in g r a n g e d b e
tw e e n 1024 a n d 11, w ith tr a n s a c tio n s t o - d a y a t 10 1 1 -1 6 ,
e x - d iv id e n d .
T h e m isc e lla n e o u s list h as b e e n q u ie t .
A m e r i
c a n T o b a c c o lo s t 3 p o in ts t o 4 1 2 .
I n te r c o n tin e n t a l R u b b e r
w a s fa ir ly a c t iv e a n d a fte r flu c t u a t in g b e tw e e n 323 4 a n d 33 34 .
ju m p e d u p t o 3424 o n T h u r s d a y , r e a c t in g t o 3 3 % t o - d a y .
S ta n d a r d Oil s o ld u p fr o m 6 16 t o 6 1 9 2 4 a n d fin ish ed t o - d a y
at 619.
T h e p r e fe rre d s t o c k o f th e S u lz b e r g e r & S on s C o .,
w h ic h a p p e a r e d in th e t r a d in g fo r th e first tim e a t th e clo se
o f la st w e e k , m o v e d u p fr o m 10034 t o 10034 a n d d o w n to
100 24 I n b o n d s A m e r ic a n S m e lte r s ’ S e c u r itie s 6s, “ w . L , ”
e a se d o ff fr o m 101 to 100 34 > but, s o ld b a c k to 101.
S o u th e r n
B e ll T e le p . 5s a d v a n c e d fr o m 9 6 2 4 t o 9 6 3 4 a n d w e a k e n e d t o
96 24W e s te r n P a c ific 5s rose fr o m 92 34 t o 9 2 % .
O u ts id e q u o t a t io n s w ill b e fo u n d o n p a g e 17 6 0.
New York Stock Exchange— Stock Record, Daily, Weekly and Yearly
O C C U P Y IN G
STOCKS —HIGHEST A N D LOW EST SA LE PRICES.
Saturday
Dec. 24
Monday
Dec. 20
Tuesday
Dec. 27
Wednesday
Dec. 28
Thursday
Dec. 29
Friday
Dec. 30
Sales of
the
Week
Shares.
TW O
PAGES
STOCKS
N E W Y O R K ST O C K
EXCHANGE
Range Since January 1.
On basis o f 100-sAare lots
H
!
*
1
M
«<
C
n|
c
p
I
L
M
k
<
1
c
r
V
N
\
1
P
R
:
:
!
»
i
!
•
S
U
psa:::;:::::
W
1
1
'
'
Highest
Highest
R a ilro a d s
25 F e b 20
35
A nn A r b o r _____________
*25
*25
35
*25
30
*25
35
481- F e b 26
70
D o p r e f_____________
*65
*65
75
*65
70
*05
70
12,450
9034 J ’ ly 20
101*4
10134
Atch T o p e k a & Santa Fe
997g 100*4
997g 100r>8 100*2 101*8
970
Do p re l________________ *97 J ’ ly 1
102*8 10234 102*2 102*;. 1023.1 103 *100*4 100*4
2.000 A tla n tic Coast Line R R „ 102'2 J 'ly 20
*11334 115*2 114*2 114*2 115 110*2 1165g 117
1,030 lO altlm ore & O h io _______ lo o t, Sep 6
101*8 104*2 1041s 1041, 10514 105*4 105 105*4
90 Y> D o pret____
91
87*4 Sep 10
91*4 *89
§91
91*4 *S9
01*4 *89
6,500 B rook lyn R a p id Tran sit.
68I2 F e b '
75*8 756.8 75*4 757g
7414 75*4
7412 74*8
3,515 ( ianadlan P a cific________
170’ , F e b
193*i 193*4 193*4 1931, 19412 195*4 195*8 195*8
*62
V -'anada S o u th e rn _______
79*2
GO'2 J ’W 20
*0U2 72*4 *6412 701*1 *64*2 70
Central o f N ew J e rse y ___ 248 J ’ly 26
*200 280 *200 280 *260 280 *2G0 280
7,700 C hesapeake & O h i o ____
7934 8034 8034 81*4
05 A u g
705g SO
79r>s 80
*27
30
C h icago & A lto n R R ____
237g J ’ ly *27
30
*27
30
*27
30
D o p r e t . . . _____ ____ _
60*2
fl4?« J ’ n e i
* ____ 66*-> * ____ 661, * ____ 00*2 *
940 Chic G t Wes:; trust c t f s . .
19 J ’ly 2
21
2138 2134 2134 213g 217g
*21*2 22*2
40
210
44*% 44*2 *45
D o pref trust c t f s ____
40 j ’ l y : . .
*44
45
*41
45
9,050 C h icago M llw & St P a u l . . 11334 J ’ n e jo
12l*> 12234 121 122*4 122 123*2 123 124*8
D
o
p
r
e
f_________
600
146*2 14012
143 Sep
145*, 145*2 *115*8 14534 *14558 147
555 h lcago & N orth W estern 13714 J ’ly 2
*141*2 142*2 14134 14134 112 142*8 141*4 14134
D o p r e f________________ 203 J u e 2 7
*180 210 *180 210 +1S0 210 *180 210
Chic St P M inn & O m aha 140 A p r 2
*135 140 *135 145 *135 145 *135 145
D o p r e f . . . _______ . . . . §160 A p r 2_
*160 175 *160 175 *160 175 *160 175
*234
4
Chic Un T ra c ctfs stm pd
*234
3*2
4
i i 8 D e c 23
*2*4
*2*4
3*4
D o pref ctfs s tm p d ____
0
6
*5
7
200
4?8 S ep 28
*5*4
0*2 *512 01,
61 N o v 1
65
65
*65
69*2 *05
09*2
270 Cleve Cln C h ic & St L ___
§63*2 65*2
D o p r e f_________ ______
*985g 100
*983g 100
*9858 100
99 S ep 14
*973g 100
50% 50% *56*2 57
4(1 J ’ly -0
57
57
*56
57
200 C olorado & S o u th e rn ____
D o l ; t p referred _______
70 J ’ly
*72
75
*72
75
74 74 *75
70
100
D o 2d p re fe rre d _______
. . Aug
70
*70
75
*70
75
*70
7(1
*70
70
elaw are & H u d so n ___ 14914 J ’ly 26
103 103 *102*, 165
101 105
1.320
165 165*,
e aw are L a ck & W c s t- 490 J ’l y 26
*490 575 *190 575 *500 694 *500 570
2314 J ’ly 20
28*2 28*2
28*2 2812 28*2 28t2 28*2 28*4
1,000 D enver & R io G ra n d e—
025jj j ’ly 26
D o p r e f_______ ________
*00
70
6034 67
§09
09
365
*60*2 07*2
45 J ’iy 11
D etroit U n ited ___________
70
*07
70*2 *05
*66
____ *67
70
10 J ’ly _
§12
12
*10
12
*10*2 12
25 D uluth So Shore & A tlan
*10*2 12
17 J ’ ly 20
D o p r e f__________
*20
21*2 *20
22
*20
22
*20*2 22
p
ji 2 J ly 26
C
M
e
...........................
27
273g
27*4 27*4
273g 27*2
2,000
2712 27*4
35 J ’ ly .7
*4512 46
45*2 4512 451* 4534 *45*2 46*4
750 Jlj D o 1st pref___
26U J ’ ly 27
D o 2d pret___
*34
36
*33*, 35*2 *34
85*4 ♦31*3 35*4
122 122*4 *122 1221, 12234 123
123 12334 2,215 G reat N orthern p ref______ 118 J ’ ly *
Ir o n Ore p ro p e rtie s___
45 J ’ ly
57
57
57
67
*56
67*?
420
56*4 56*4
11 A u g 10
G reen B a y & \V, d e b ctfB
*13*2 1434 *11*2 H*4 *13*2 1434 *13*2 15
avan a E lectric.
88l2 Ja>i 20
____ *89
*89
*93
. . *89
D o p r e f_____
93i2 N o v i7
041?
94*2 *93*2 94*, * ___
* ____ 94*2 *93
H ocking V a lley___
102 M a y 6
*123 135 *123 135 *123 135 *123 134
llinois C en tral___
124 J ’ly 20
300
131*4 131*4 131 131 *131 133
*130*2 135
1912 19*4
n te rb o ro -M e tro p o llta n .
1958 197g
14U J ’ly 20
6,900
19
193g
19*4 19*2
D o p r e f.
5358 54*8
53*2 63's
9,760
4l*2 J ’ ly 26
63
54*4
53
6312
Iow
a
Central
15 J ’ negO
*17*2 18
*17*2 18
*17*2 18*2 *17*2 18
D o pret
31
31*2
900
25 J ’ ly 20
31*2 31*4
31
32*2 *30*2 31
TZ C F«■
t C
S & M tr cfs, pret
77*2
68 A u g _
*73
7712 *73
5,100 I V a n s a s C ity S o u th e rn .,
32*4 33*8 *32S4 33
23 J ’ly 20
32*4 32*2
31*4 32*2
D o p r e f.
63 A ug
*0434 60
00 66*2 *64*2 06*8
*65
06
300
ake E n e & W estern___
_15 J ’n e „0
*14
20
*10 20 *14
*14
20
20
3714 D e c 3
D o p r e f____________
*39
45
*37
45
*37
*37
42
45
173U
1785g 17938 1787g 1803g 189*4 LSI *175*4 17038 62.450 Leh igh V a lle y ....................
643.| 0 134 *62
*02
07
60 J ’iy
* 0212 68
100 Long Isla n d _____________
66
13112 J ’ ly 26
143*4 143*4 1421, 143
143*2 144*4 144*4 14434
2,500 L ou isville & N a s h v ille ..
a n h atta n E le v a te d ___ 123 J ’n0 30
139 139*8 138 138*8 138*8 138*8 *138 141
1,010
2534 257g *24
*24
27
lnneapolls & St Louis
2534 25*.|
20
23 J ’ly 20
650
D o p r e f_______________
* ____ 64 * ____ 54
*35
53
*35
40 S ep 21
53
*128 131 *128 131
130 130
13034 130*4
300 Minn St P & S S M ario___ 114 J ’l y 26
___ J ’ ne 0
140 146 *145 148 *145 14734 *146 147*4
100 D o p r e f________________ 144
+8934 90*8 *8934 90*s
893) 8934 *S934 90!fl
200 D o leased line c t fs ____ * 30*4 Sep 20
3134 32
31*2 3134
316,8 32
27 J ’ ly 20
317g 82*8
2,600 Mo K ansas & Texas
03
03
*02*4 63
*62*4 68
* 0214 70
100 D o pPcf__________
67 J ’ly .6
*4534 46*2
40
407g §4034 46*4
45
45*2
1,550 Missouri P a cific
41 J ’lv 20
ash C h att & St L o u is , 125 J ’ly -0
*130 143 *136 143 *135 145 *130 143
a t R y s o f M cx 1st pref
_ F eb 3
00
71
*06
72
*06
71
____ *60
♦60
D o 2d pret_________
23i2 J ’l y 20
34
34
337g 34*8
3438 34*8
1,600
34*4 35
10934 110*4 *110 11034 1106j 111*4 111*4 11134 3,000 N Y Central & H u d s o n .. 105*8 J ’ly 20
65io M ay 4
N Y Chic & St L o u is____
08
*03
08
*63
68 *63
68 *03
D o 1st p r e f_________
§101 “ J ’ly «
♦104 110 *104 110 *104 110 *104 110
8234 A p r 28
D o 2d p r e f_________ _
*88 93 *87 93
*88 03 *88 93
149 A p r 28
750 N Y N H & H a rtfo rd ____
151 161*8 151 151
151 151*4 151 151
100 Subscription receipts j/._ 4143 J n e l o
*145 148*2 *146 148
1471, 14712 *145 148
*40*4 41
*40
41
*41
41
41
42
100 N Y O ntario & W estern . 38[2 A u g 2
9934 1005g 10038 100*8 6,000 N orfolk & W estern _____
88*2 J ’ly 26
99*2 9934 ♦9912 100
88 F e b 2
*80
on
D o a d ju s tm e n t pret___
11 1>2 A u g 3
0,060 N orthern P a cific_________
115 115*4 115 11534 I 153.1 no'*. 116*8 110*4
acific Coast C o ________ 100 O c t 13
*98 105
*98 105
*98 105
*98 105
D o 1st p re f_________
*00 110 *90 110 *90 110 *90 n o
D o 2d p re l_________
*98 105
*98 105
105 F e b 14 118 Jan 3
*93 105
*98 105
6,881 P e n n s y lv a n ia ____________ 122*2 J ’ly -6 138*2 M'-h 9
1277g 128*2 128 12S3s 128*8 128*, 12812 129
P ittsb Cln C h ic <fc St L __
*90
89 J ’ly 20 1045s M ch 22
99
*90
99
99
*96
98*2 *96
D o p r e f________________ 110 O c t 25 n o M ch 1
*105 112 *105 112 *105 112 *105 112
e ad in g_________________
148 1407g 1477g 149*4 1493S 15058 15034 15178 248.700
1305s J ’ ly 20 172*4 F e b 18
1st p re t_____________ *85 A u g 24
*8734 91
*8734 91
*8734 91
*87*>3 01
93*2 F eb 17
2d p r e f_____________
*92
93
04
*92
93
93
937g
0412 1,400
87 J ’ly 26 l l 0 i 2 Jan 3
287g 29*4
57*4 Jan 3
29
29*4
29*2 30
7,600 R o ck Isla n d C o m p a n y ___
29
29*2
22?s J ’ly 26
D
o
p
re
f________________
69
69*4 *58*2 01
64
J
’
ly
27
*59
61
CO
00
800
02*2 A p r 9
02 62 *00
65
*02 60
*00
G5
100 t L & San Fr, 1st p r e f .. 58 A u g l l 73 Jan C
3734 3784 381g 381g
D o 2d pret___________
38
38
34*2 A u g 2 60 Jan 5
450
38*2 3812
St L ouis S o u th w e ste rn ___
*25
20
*25
20
i8 i2 J ’ ly 20 34i2 Jan 3
*25
20
*25*4 26*2
D o p r e f________________
60*2 00*, *60
* 00*2 62
6U 2 J ’ly 20 77*2 Jan 3
02 *60
300
60*4
1137g 115
1137g 11434 1147g 116*8 11558 1105s 19,275 Southern P a cific C o _____
10314 J ’ ly 20 xl38*4 Jan ^
25*4 26*8
2534 25?a
20 20*2 26*2 205* 2.900 Southern v tr cfs s tm p d - i s J ’ ly 20 3334 J an 3
00% 01
00 61
6134 02*2 1,120
D o pref
do
43 J ’ly 26 75 Jan 3
61*2 01*5
♦ 2134 20 ♦2134 20
20 20 *25
20
100 'T e x a s & P a cific _________
22U J ’ly 20 3034 Jan 3
10 10
+9*2 10*2
* 0*2 10*2 103g 103„
f i i i j ’ no 1
300 JLhlrd A v e n u e (N Y ) ___
19*2 Jan 7
*7I2 878 *73s
87g
*734
Toledo R ailw ays & L ight
1534 Jan 12
812
*7*2
8
6 ' i J ’ iy 6
§23
23*8
23*3 23*,
23*4
640
23
23*2 *23
19 J ’ ly 26
543s Jan 4
62*2 62*2
62*2 62*s
5234 527g *52*4 62*2
4234 J ’ ly 28
7214 Jan 4
1,000 D o p r e f_______________
*10(5 109 *1077g 109 *107 110 *10778 108*2
Tw in C ity R a p id T ransit 103 J ’ ly 20 ll7 * 2 Jan 3
108*4 1697g 1077s 109*4 109*8 1703g 1703a 171*4 133,400
nion P a cific___________ 15214 J ’ ly 20 20434 j an 3
92
92
*91
93
92
03
D o p r e f_____________
1,550
92»s 03
88U J ’ly 26 10334 j a n 7
29
303s
29*2 29*2
30
31
31*4 31*2
1,000 U nit R y s I n v 't o f San Fr 2334 J no 30 4214 Jan 3
69
00
59*4 00
597g 60*4
*50
GO
D o p r e f . . _____________
723j J an 8
1,800
47 J ‘ ne30'
15*2 15*2 *15*2 16*2 *10
10*2
100
*15*2 10*2
12”>S J ’ly 20 2734 Jan 3
33
33*g
34
31
34
36
33*4 33*4
910
28*8 j ’ ly 26 61 Jan 3
60
6U , 4934 51*4 49*2 60*2 49
60*2 14,060
40 J ’ ly 26 643gMch 12
75
77
*75
77
*75
7758 *75
650
D o p r e f.
775g
07 A u g 15
77 D eo 27
*4*2
0
*4*2
0
*4*2
5*2
*412 0
3 A p r 28
10 Jan 3
12 12 *10
1334
13»4
14
D o 1st p r e f_____
13
400
13
8 J ’no ;o
23 Jan 3
*0
8
*4
7
*4*2
6*2 *0
D o 2d p r e f_______
7
4 J ’ne30
VI *2Jan 3
*54*, 57
*5413 67
60
60
*65
57
io o Wisconsin C en tral.
44 J 'ly ?6
64 N o v 2
D
Range for Previous
Year (1909)
20
M ch
97/g Jan
25
M ch
100*4 Jan
107*2 Jan
103*2 F eb
yi N ov
07 Jan
rl65 M ch
60*4 Jan
>16 F eb
55&s Jan
57 '8 F e o
—
N ov
70
31*2 D ec
58*4 D e c
141 F eb
158*2 M ch
173*8 Feb
208 M ch
148 A p r
166*2 Jan
u D eo
3*2
" D ec
734
68 Jan
100 Jan
51 O ct
76*2 Jan
73*4 Jan
167*^ F eb
535 F e b
37*>* Jan
79*2 Jan
60 Jan
14*4 N o v
28 F eb
225S M ch
36*2 M ch
28*2 -M ch
1365g F
* eb
65*8 M ch
ov
1 8 * 2N-.-.
39 F e b
83>g F e b
125**8 O ct
lU03j J ’ne
14312 A u g
122*4 J ’ly
96 A p r
82?8 J ’ne
18938 O ct
70*4 N o v
323*2 Sep
9R 4 D eo
7434 A p r
78*2 M ch
373s D ec
6434 D eo
165*8 Sep
ls l Aug
198*2 A u g
§230 A u g
167 A u g
§180 J ’ly
7 Jan
18*4 Jan
83*4 D ec
105 M en
68I4 Jan
86 M ay
84*2 Jan
200 M ay
680 A p r
61 A p r
90 F e b
7D 4 A u g
21 J an
30i 2 Jan
39 J ’ na
66s4 A u g
40 A u g
157*8 A u g
88*2 A u g
21 D ec
103 D eo
100 D eo
'1 3 7 " F e b
115. M ch
30*3 M ch
203. N ov
48 t>ep
743, F eb
37 4 F e b
677, l eb
19l2 F e b
48 Jan
162*8 A u g
25*8 D eo
635g D eo
36 A p r
62 A p r
82 Sep
50*4 A u g
75*2 A u g
2gt2 A u g
64*8 J ’ne
£ " 'J a n
n * 2 D eo
r l 2l Jan
16212 A u g
153i2 Jan
137 g eo
51 keP
65 Jan
s i M ch
90 J a n
13212 Jan
149*2 Jan
147 A p r 1641, A u *
94 " D eo
89 J *y
50*2 O ct
35*2 fceb
71 F e b
78*4 O ct
05 F eb
77** A u g
12212 Jan 142 D eo
64 D e c
44*2 A p r
21 D ec
20 Sg M a y
120*2 F e b 14734 A u g
4812 M ch
09 N o v
100 F e b
100 F e b
76*4 A p r
95 N o v
{154 N o v 17434 J ’ n e
/il47*o D e c *14934 D ec
4214 F e b
655g J ’no
84i4 Jan
102 D ec
85*8 Men
92*2 J ly
13314 F e b 159*2 A u g
70 M ch 116*, D ec
100 M ch §106 S ep
88 M ch 115 D eo
151*4 Sep
126*8 F e b
86*2 Jan
99*8 D eo
101 F eb
116*4 Sep
118 F e b
173*8 Sep
89 M ch 90 A u g
90 F e b
117*2 D eo
20/g F eb
81 D eo
675g F e b
9434 D eo
65*4 M ch
74 D eo
6034 Sep
36 F e b
20*2 F eb
353g D eo
47*-> Jan
82 D e c
1145g F e b
139'g A u g
22 F e b
34 A u g
60 Jan
75*2 D eo
30 F e b
40*2 A u g
12*4 D e c
42*, J a n
7 M ay
153g J a n
43 F e b
547* O c {
6434 F e b
74*4 J a n ’
97 Jan
I I 6I4 D eo
17212 F e b 219 A u g
x94 M ch 118*2 A u g
30 F eb
47 Sep
60*4 F eb
77 Sep
15 F eb
27*8 D eo
0 D4 J ’no
41 T eb
6
J ly
15*4
J ’ly
612 J ’ ly
357* Jan
127g J an
257g Jan
15*8 Jan
6 17« A p r
B A N K S A N D T R U S T C O M P A N IE S — B R O K E R S ' Q U O T A T IO N S .
Ask
Hid
Hid
Ask
Hid
Ask
Banks
llan ks
Hid
HUX As*
Ask
B anks
B anks
Banks
C hatham . . 1331
Fifth ........... 300
350
Irvin g N Ex 200
210
Mutual 1]___ 285
P rod E xch 1
295
175
180
Chelsea Exit 190
I 'l r s t ____ _
Jeircrsonl]..
200
Nassau l|___ 240
840
R e s e r v e ___
180
000 Chemical . .
590
420
14th S t H ... 150
L ib e r ty ____ 575
155
N ew N eth 'd 210
Seaboard . .
220
L in c o ln ____ 400
1239*4 ____ Citizens’ Cti 160“
157*; F o u r t h ____ 194
190
S e c o n d ____
N ew Y ork C o 900
425
1 l 6 125 C ity ________ 380 387*2 G a ll a t i n ___ 325 335 Man hattau ' 325 330 New Y o r k . 315 325 S h erm a n ___
130 ____ Coal <5; Iron 153 158 G a r i l c l d ___ 290 300 M ark 't& F u 250 200 N ’ ht & D a y f 225 230 State H ____
____ Colonial 1|__ 40)
475
C e rm -A m 1] 140
150
Mcch iScMet’s 215
19th W a r d . 250
12th W a r d .
260
250
C olum bia 1j.
G erm ’ n Exfl 4 85
800
M ercantile . 150
405
157i» FaolflcH____ 230
23d W a r d ..
240
C om m erce . 1193*6
205
195
Merch Exch 160
G erm ania 1|. 550
565
U nion E x c .
167*2 P a r k _______ 350
155
ICO Corn E x 1|._ 303
G oth am _ .
M e rch a n ts'. 179
312
150
P e o p le ’s H__
181
W ash H ’ ts 1!
215
East R iv e r . 115
145
138
G reenw ich U 255
125
265
M etropolis T> 390
P h e n lx ____ 200
W est Side f,
410
Fidelity 1i_. 105
170
175
H
a
n
o
v
e
r
___
-Vletropol
020
175
P lazafl_____ 625
CIO
200
Y o rk v llie U.
205
430
45 > Fifth A veil 4090 4250
Alt Morrlsfl.' 250
Im p & Trad 550
505
200
♦ a id and a ked pr ces: no sales were m ade on tms d a y . 1 Ex-rignts. 4 Cess than 100 shares. IfStato oank s. a E x -d lv ld e n d aud rights, b N o w
TSale at S tock E xch an ge or at auction this w eek
It First Installm ent paid
n Sold a t p riva te sale a t this price,
z 2d paid.
2/ 3d paid.
B anks
N ew Yorle
Eetna _____
America 11..
tm er E x ch .
A udubon . .
[Littery P k .
B ow eryfl___
Bronx llorol,
B ronx Nat
Bryant Fk D
Butch * Dr
Century i|_.
P h a s e ____
ina
Ask
160
1671 j
1 1212
40J
400
425
135
275
140
140
172l2 182*1
275
650
500
sto ck .
— -
1753
[VOL. LXXXXI.
New York Stock Record— Concluded— Page 2
STOCKS— HIGHEST A N D LOWEST SALE TRICES.
Tuesday
Dec. 27
Monday
Dec. 26
Wednesday
Dec. 28
Thursday
Dec 29
Friday
Dec. 30
Sale.» of
the
W eek
Shares
STOCKS
N E W Y O R K ST O C K
EXCHANGE
Range Since January 1
On basis o / 100-share tots
H tghest
Range tor Previous
Year (1909
Highest
in d u s tr ia l* rtliscclla;icou.
da m3 E xpress________
5270 Jan
300
llLs-C halm ers___ . ___
15 Jan
30
H o p re i_____
200
5434 Jan
61%
60,500 A m algam ated C o p p e r "!"
0O;ij Jan _
46% 45%
45% 46%
950 A m er Agricultu ral Chem
45% 40
40*8 46%
40*2 O ct 21
*90
Uo pret______________
*90
♦84
*90
103 Jan 10
42% 43*4
42% 43
42*4 431.1
42*4 43% 17,726 A m erican Beet Sugar___ !
47% Jan 10
*93
Ho p r e f___
95
*93
0134 *92
95
*91
01*4
95*2 J ’ n e 15
8*4 8%
8% 834
8% 8*.
8% 9% 3,850 A m erican Can
!3<* Jan
Ho p r e l________________
1.000
70% 70%
70
70%
70
77% 77*4
70)8
82*4 N o v 22
48% 49*4
50%
1,240 A m erican Car & F oundry
49% 49%
40
49
50
72's Jan
Uo p re l_____________ __
*110 115 *110 116 *110 116 *110 115
120 M ch 0
*57% 50i2 59
59
59%
600 A m erican C otton O il____
59
5012 59%
09’ .; Mch 0
104% 104%
Uo pret________
§104 104%
240
107 O ct 13
*220 240 *220 240 *220 240 *225 240
A m erican Express
-20 Jan
4
%
♦4
4
%
4%
*4
*4
100 A m erican H ide & Leather
4%
4%
5*s Jan
22% 22%
Do pref________________
200
23
* 21% 22%
22*2 22% *21
47% -a n
18
18
400 A m erican Ice S ecu rities.
*17*2 18% *17% 18
*1712 18
29*4 M ch
*11
12*2
*11
12%
12% *11
12)2 *11
A m erican Linseed
173.1 j a n 3
31% 32
32
32
32
32
32
32
H o p re l___ ____________
1,000
40% Jan 3
37
36%
37
36
37%
38%
2,725 A m erican L o c o m o t iv e ..
30% 3012
t>2i2Jan
*105% 107 *105% 107
107)8 107)8 108 108
Uo p r e f____
2^0
115 Jan
434
*3
434
3%
4
*3*8
3%
100 A m erican iia it C o r n ! ! ! !
*3*8
8 F e b 18
34% 35
343.t 3434 *34*4 35% *34*4 35%
Uo p ref________________
300
48 M ch 21
80^4
803
4
86% 80% *80% 87
87
♦80
500 A m er Sm elters Sec "pret "u
0078
Jan
73*3 74 % 7334 7414 22,220 A m er S m elt.ng& Retirilng
72l,s 73
72% 73%
104 Jan
102% 102*2 § 102)2 102% 102% 102's 103% 103)2
Uo p re f____
620
U23.[ Jan
*200 300 *200 300 *260 300 *260
A m erican Snuil
285 A p r 27
1285 N o v
*100 101 *100 101 *100 101 *100 101
U o pret________________
102 D eo 8
105 M ay
*42
43
*42
42
42
43
43
600 Am er Steel Found" (new) ”
43*8
00
j
a
n
10
00*8 N OV
114 114 §114% 114% *113% 115 *114% 110
150 A m erican Sugar Kenning
1287s Feb 18
130*s S CP
113 113 §114 111
113 113 *112% 115
225
Uo p re f_________ __
1-4 F eb 28
131 A p r
141% 142% 141*4 142% 142*8 143 2140*8 141%
6,500 A m erican T eieph & Teieg
143*8 F eb 24
145% Sep
92
92%
92% 02% 92% 92*4
03*4 93%
1,150 A m erican T o b a c (new) ,pf
00*2 J T y 20 0934 M ch 14
lu i M ay
32
31
30*4 3F%
32%
700 A m erican W o o le n ____
3012 301 ■> *31
25*8 J ’ iy 6
30*2 Men 18
40*2 A u g
92
§92
92
917g
*90
91*4 91*4
U
o
p
re
f___
______
210
9178
90% D eo 7 104 M ch 7
10734
J ’ ne
38
38%
38*4 38^4
38*4 30
♦38% 30%
1,200 <M nacondaCopper"f*ar$25 {33*2 J Ty 20 $54 Jan 3
5543s D eo
28% 28%
♦27*4 20% *27*4 28%
29
29
300 lle t h le h e m S t e e l . . .
21 J n o j c
34% O ct 2l
30% vSep
58
*50% 58
57
69
*50
Uo pref...........
'
200
59
40 A u g 10 65 Jan 10
09% Sep
135 135% *135 130 *134 136
*134
135
300 B rooklyn Union G a s.
125 J ’ ly 26 104*2 Jan 3
104% D eo
*8*4 10
* 8*4 10
* 8*4 10
*8*4 10
Brunsw ick T erm & u v S t !
J ’uo^u
18*8 Jan 3
19% D eo
*27*4 30
*27*4 30
*27*4 30
*28
30
B utterlck C o _____
28 J ’ ne s
33 Jan
37 N o v
31
31
31% 31%
31% 32%
31*s 31*4
__ , JT y 20
3,020 / 'entral L e a th e r.............I
25%
48*4 Jan 3
5134 O ct
*102*2 104 *103 104
104 104
104 104
400 *■> U o p re f_____________
99*4 J 'iy 27 100*4 M ch 8
111 Sep
*30
31
30
31
31
31
31% 31%
900 C olorado Fuel & i r o n ___
60 Jan 3
22*2 J 'ly 20
63 D eo
*4
5
*4
*4
5
*4
6
5
100 Col & H o ck Coal A Iron
3 S ep 12 02% Jan
01% D eo
134*2 130% 13534 13733 136% 137% 136 137
32,800 C on solidated Gas (N Y ) . 122 J ’ly 20 100% Jan 3
165*4
Jan
14% 14%
14% 143« *14% 15
14*8 14*8
U lo J 'u e30
800 Corn P ro d u cts R e fin in g ..
23*4 Jan 0
26*2
J ’ne
78
78
*70
70
*75
79
*74% 75
U o p r e f____________ . . .
70*s j ’ly 20
100
8038Jan 3
93% J ’ne
*58
08
*57
07 *
07
*57
Crex C a rp et_________
67
56 A p r 20 05 N o v 22
03 D eo
33
33
32% 32% *32*4 34
700 Ulstltlers’ Securities Corn
33l8 33%
2514 J ’iy 20 .3034 Jun 10
41% Jan
*12 20 *12 20 *12 20 +12 20
Federal M ining & S m e lt's
12 O ct 26
95*2 M ay
00 M ch 8
*45% 55
*45*2 65
*45% 65
U o p re f________________
*45)2 65
37 O ct 27 88 Jan 3
94
Aug
151 153
151 1517„ 152% 154
151 151%
2,050 General E lectric_________
134 J 'iy 20 1007s Jan 6
172*4 AUg
8% 8%
8% 8%
8*8 8*2 277s 8 13,734 dG oldfleld Con M .P a r $10 $7*4 O c t 14 $9*4 Sep 26
♦100 109% 109 109% *109 111
1001* 1091s 1,300 ’ ut H arvester stk tr etts s83*g F e b 8 1267s Jan 10
02 dan 118*4 D eo
122 122 122 122 ♦12U 2 122% 122 122
300
U o pref stk tr c t fs ___ *117 A u g 11 120 Jail 4 100*4 Jan
128 D eo
*412
5
4%
4%
4I‘> *4%
400 Int Mer M arine stk tr ctfs
4*2
5
4*4 J 'ly 25
7*2
Jan 6
9 O ct
6»s J ’iy
*15*2 10*4
15% 15% *14*4 10% *15*2 16%
Uo pret_________ ______
100
12% J ’ ly 26 2433 Jan 6 18*4 JT y
27% j a n
* 12*2 13
* 12% 13
12% 12%
100 Internation al P a p e r_____
0 J ’ly 1 10 Jan 3
* 12*2 13
9% M ch 10*4 Jan
*55
55% 55%
50^2
55% 65% *55
Uo p r e f_____________ _
300
60
4734 M ch 00*4 A u g
41*2 J i y 20 01*2 J an 3
40
40
39*4 39%
40
40
800 Internat Steam P u m p . . .
40% 40%
30% tj’l y 26
64% Jan 7
33*-> F e b
6412 N o v
*83*4 85
*83% 85
Uo pref________________
100
85
85
*83)2 85
78*j J 'iy 20 9034 Jan 17
82% Jan
01 Sep
105 105*4 105% 105% 105% 105*4 105*4 106%
2,600 L aclede Gas (St L) c o m . .
9334 J 'iy 20 110*2 Jan 10 104 J ’ne 113*8 D eo
*89
05
*89
95
*80
93
*90% 93
M ackay C om p a n ies_____
79
J 'iy 20 98 O c t 10
70
Jan
95%
NOV
*74*4 75*4 *74% 70
100
*74*4 75*4
U o p re f________________
751.1 75%
71 J 'iy 27
00% Jan
78*4 O ct 10
77% Deo
§118% 118% x 110% 117
080
117% 117% 117% 118%
atlonal B iscuit
100 A u g 0 119% D eo 17
90*2 Jan
120
Sep
§123 123 *123 124
335
124 124
124 124
U o p r e t ________
118*4 J'iy 6 126 Jan 17 118*2 dan
130 Sep
*16
17% *10
17% *10
17% + 10
17)2
N at E n am el'g & Stam p’ s
14 Sep 17
12% F eb
28*2Jan 3
30*4 U eo
*80
80
80
*80
*80
80
*80
80
U o p r e f_____________
84 O ct 17
00*2 Jan 18
82 Jan
09% Sep
53
53
52% 54
§55
55
54% 55*4
1.110 N ational L e a d ____________
40>-> J 'iy 20 89% Jan 8
71% F ob
04 AUg
*105 107*4 *104 108 *104 107*4 *101)4 107*4
Uo prel
10134 J ’iy 20 110*2 Jan 17 10234 A pr
U 334 A u g
18% 18*8
18% 1838 1838 18%
18*8 18*2
3,140 <!Nev Cons C o p p e r .P a r $5 $ l 7 u J ’ ly 0 $22*8 O ct 1 /
72
*68 72
§70*4 703.| *00
26 N ew Y ork A ir B rak e____
*09*2 74
59 J ’ne 0 06*2 Jan 3
80 F eb
9714 N ov
047, 64% *64% 05
6478 647„
65
65
300 N orth A m erican Co. new
00% N o v 23 84 Jan
72 Jan
8712 J ’ ne
27
28%
27% 27%
27*4 28
27% 27*4
acific M a ll_____
1,400
22
% J ’ly 20 43*4 Jan
48*o NOV
29*s F eb
43
43%
43
43
43% 43*8
43
43%
1,260
aclOc T e le p & T e ie g .I
40*4 Jan
30 J ’iy 26
45*4 N ov
04 " O ct
105% 105% *105 105*4 105 105
105 105
650 P e o p le ’s G L & C (Chic)
103 J T y 20 110*8 Jan
101% Jan
120 AUg
07% 98*4
99% 100% 101 102
102*8 102% 6,800 P h iladelphia Co (P ltto b 'h ) 84 J ’iy 6 100*2 Jan
99% D ec
103
D eo
*17
18% *17
185S 17
18% *17
17
100 P ittsbu rgh Coal C o _____
13 J T y 26 2734 Jan
10 A p r
203g N o v
*07
70
67% 67%
67*8 07*8 *67*4 09
U o p r e f________________
300
85 Jan
40 F eb
60*4
J ’iy 26
87%
D eo
30
30
*30
31
29% 30
30% 30%
900 Pressed Steel C ar________
30*2 F eb
25 J ’iy 26 517s Jan
66 A u g
*93
94% *93
95
93
400
U o p re f________________
93% ♦92*4 93%
90 F e b 1 1 1 * 4 A u g
00 J ’iy 27 107*2 Jan
*158 100
158% 158*8 159 159
159 159
400 Pullm an C o m p a n y _______ 165 J ’n e z o 200 Jan 11 160 Jan
200 A u g
*2
3%
* 1%
* 1%
3%
+ 1%
3%
(Quicksilver M in ing_______
3%
2 S ep 20
37fl A p r 6
15g Jan
J’iy
*3*4
5
*3%
6
*3%
5
*3%
5
U o p r e f________________
07g A u g 2
67s May21
3 Men
10 M ay
31% 31%
31
31
*30
32
32
32
650 I ) all w a y Steel S p r in g ..
28 J ’ iy 20 617s Jan 3
321? Mch
64R A u g
92
92
♦917s 92%
200 LV
Uo p r e f......................... *00*4 S ep 7 107 Jan 17
01% 91*8 *91% 92
977s Feb
109
'
Aug
30
30%
30
30
*30
31
30% 30%
000 U epubllo Iron & S teel___
21 J ne 4 4578 Jan 3
10% Fob
40% Sep
*91% 93
*91% 93
02*4 02*4
U o pref
82*4 J ’ iy 20 104% Jan 3
200
92*2 92%
07*s F eb
110%
JT
y
*180 185 *180 185
181% 181% 180 181%
425
ears, R o e b u c k A C o . .
160 J ’ ne30 190 N o v 12
* 48*4 49% *49% 40*8
40% 49% *49
li
~h
...........
- - Steel A Ir
60
400
48% D eo 8
loss-S
effield
8012 Jan 3
08 F ob
94% O ct
* __ 112% * _ 112%
♦
112%
112%
U o p re f_____________
114 J ’iy 6 11831 F e b 1 107*8 F eb 120 Sep
34% 34%
34
34
34
34%
34% 34%
1,200 (ITennesseeCopper P a r } 25 $1934 J ’ iy 20 $40% Jan 3 $3312 O ct
$40 Jan
135 130 §134 135
135 135% *132 135
634 T exa s Co (T h e )___________ 134 O ct 7 144 O ct 18
*88 02 ♦ 88 91% *88 91% *88 91%
83 F e b 8
T exa s P a cific Land Trust
05 M ay 13
80% Feb
03% J ly
*8
9
*8
9
8% 8%
8*4 8*4
nion B ag A P a p e r . . . .
0 J ’iy 6 13*4 Jan 10
0% Feb
15% J ’ no
*54
59
*54
*54
50
69
*53
59
U o p r e f_____________
62*8 D eo 9
73 Jan 17
66 Jan
81%
J ’na
§ 102% 103
102% 102% *100 102% *101 102%
125 U nited U ry G oods C o s . .
00 A u g 2 122 Jan 3 116 O ct 125*2 D eo
*100 102% * 101% 102 * 10U 2 102% 102*8 102%
200
U o p r e f________________
99*4 A u g 2 1137s Jan 4 rlO0 Sep
114 Deo
*15% 17
*15*2 17
16% 101? *15
17
115 U S Cast I P ipe A F oundr
14% JT y 21 32 Jan 3
243s F eb
35% J ’na
50*4 50% §50% 51%
51
50% 51%
645
U o p r e f________________
517*
49 J ’ ne 28 84 Jan 10
70 M ch
87*2 A u g
*93 100
*93
09
90
*03
09
+93
U nited States E x p r e s s .. $93*2 D eo 14 145 Jan 10
82 Feb $111 D eo
*68 70 ♦ 68 71
*68 80 *67% 70%
U S R e a lty A Im p r o v e m ’ t
0434 JT y 20
84% Jan 4
04 Feb
87 Sep
*4*2
7
*4%
7
*4%
7
*4%
7
U S R e d u ctio n A Refining
4 J ’ne 27
11
Jan
14
10
M
ch
17*2 J ’M
*14
17
*14
17
*14
17
*14
17
U o p r e f____________ ___
13 JT y 8
20% Jan 3
24
F eb
30*2 A u g
34% 35
33% 34%
35% 371 •> 37
33
8,600 United States R u b b e r ___
62% Jan 3
27 JT y 26
67% A u g
27 F eb
109% 109*4 109% 110*4 110 U07s 110% 111
2,814
U o 1st p r e f____________
123*2 A u g
99 J T y 26 110% Jan 10
08 Jan
73
73
*00 74
73*4 74
73
73
300
U o 2d p r e f____________
54 Jan 3
69% JT y 27
89*? A u g
07% Feb
70*8 71*8
71
71*8 72%
72** 73*s 2 64,778 U nited States S te e l_____
72%
01 Jan 3
41% F eb
01% J ’iy 20
047s O ct
116% 116*4 116% 116% 110% 11658 116% 110-% 5.980
Do p r e f . _______________ l lo i - J ’ iy 20 125*8 Jan 3
131 O ct
107 F eb
44
44>2 ♦44% 45
44*2 45
44% 45
2,810 dU tah C o p p e r___ P ar $10 t$39*s j ’ n e 30 $00% Jan 0 $39% F eb 107*4 N o v
01% 61*4 01*4 §62% 62% 2,000 Virgin a-CaroUna C h e m .. 47 F e b 3 00% O ct : i
61*2 61%
01
40% F eb
66% D eo
124% 124% *124 120 *122 120
*120 125
100
Uo p r e f . . ____ ____ . . .
123 U eo
117 J ’ iy 28 129% Jan 4 114 Jail
73 Jan 8
Virginia Iron Coal A Coke
67 F eb
50 S ep 24
757S
Sop
} 150 150 §150 151 §155 165 +150 155
140 Y V ells F argo A C o ______ 144*2 D eo 1 <|106 Jan 4 300 Jan 5670 D eo
73%
*72
73
72% 73
73
1,650
04 F eb
72% 73%
estern U nion T e i e g . .
60 J ’ iy 26
78% M ch 4
85% N o v
65% 05% ♦65% 00% *65% 66)3 1,200 W estln gh ’ seF.l A M fg assen
65% 66%
74 Feb
49*2 J ’ iy 20 82% Jan 3
90 Aug'
*110 124 *120 * 124 *120 123 +120 123
Do 1st n r e f___ __
no
M ay 3 131) Feb 24 110 Mcb 145 Sep
*220
*8
♦ 220 245 *220
8%
8
8
8%
30
*29
31
*29
02% 00*4 6134 61*4
240
*220 245
8
8
8%
30
30
+29
03%
02)2 03%
A
245
P
9*8
S
U
B A N K S A N D T R U S T C O M P A N IE S — B A N K E R S ' Q U O T A T IO N S .
Banks
B rooklyn
road w ay Ti
rook ly n
Soney Isl'dH
First _______
Hillside^]___
H om estead !
M a n u fac’ rs1
M ech a n ics'1;
M on ta u k . .
N a s s a u ____
E
Bid
Ask
385
400
100
155
305
125
115
200
415
230
____
245
245
150
270
Bid
B anks
Brooklyn
N at C ity ___ 285
N orth Side §j 15)
P e o p le 's ___ 158
P ro sp ’ ctPk*) 150
Terminal !|
1 rust C o’ s
N Y CUy
A stor _____
Bankers’ Tr
310
020
Ask
300
180
100
90
315
630
1rust C o ’ s
Bid
/V Y City
B’ w a y T r . . 145
Carnegie .
Central l’r
1015
C olum bia . . 280
Com m ercial 120
Em pire . .
300
E q u lt’ ble Tr
Farm Lo& 'l 1615
F i d e l i t y ___ 213%
F u lt o n ____ 290
Ask
tru st C o ’ s
G u a F ty 1%
G uardian Tr
148
H u d s o n ___
110
1025
K n lc k e r b k r
Law T l& T r
285
L in coln T r .
130
M a d is o n ___
310
M anhattan
465
M ercantile .
1025
217% M etro p o l’ t’ u
M u tu a l____
M ut AUnce
Bid
800
Ask
810
180
105
176
295
303
252% 257%
127% 132%
195
203
375
400
700
740
____ 500
« ...
130
123
130
1rust C o ’ s
N Y L lfe& T r
N Y T r u s t.
S a v o y ..........
S tand ard Tr
n t l e O u * Tr
T r Co ot Am
U nion T r . . .
US M tg& Tr
Unit S ta te s.
W ashington
W estchester
W indsor _ .
*B id and asked prices, no sales on tins day. 4 Less than 100 shares. $ E x-rights. b N ew s tock c E x -d lv an d rights
a u c t io n th is w e e k .
* E x - stock d iv id e n d .
1|Banks m a r k e d w ith a p a r a g r a p h ( f t
I I s * 18 a t s t « cl£ ^ c h a n g e o r
Ask
1 rust C o’ s
Bid
B rooklyn
1130
B rook lyn Tr 420
020
Citizens' . .
100
125
Flatbush . . 200
410
Franklin .
510
H am ilton . . 270
330
H om e . . .
1300
103
48.)
K m gs Co .
600
L 1st L * TT 300
noo
____ Nassau . .
170
100 P e o p le ’s . . 295
130
cjueens Co
no
W U Uam sb’ g
d N o w u u o te d dollar*
S tate b a n k s !
pw
Bid
1120
010
90
400
500
320
12 75
175
1100
375
150
120
A ]*
430
135
220
210
280
no
3T 0 *
180
310
125
ioq_
New York Stock Exchange— Bond Record, Friday, Weekly and Yearly
Jam. 1 1 9 0 0 , tlle A x ta a n /« n etnod of quotin'/ o o n l s oas ch a n ged , an.I n r loss are a ow alb—" a n d in ter e s t” —ex u p l /or in tern e an d d e fa u lte d bonds.
BONDS
N. V . STOO K K X C H a V m
W kkk Ewuinu dko 9o
tl. r*. t io v v i nun-in
U 8 2a con sol r eg istere d .a i
1/ 8 2s con sol c o u p o n ....d I
U M 3s r e g is t e r e d ............. «H
U 8 3a c o u p o n ..................... *1!
U 8 3a cou sm all bon d s..K L!
(J 8 4s reg iste r e d ................ 1
1/ 8 4a c o u p o n .......................1'
U S P a n Can 10-30 y r 2s./cli
1
^
Ig l
1- ^
: 4;^
1
y -j
y -j
y -B
y -B
y -B
y -p
y -F
y-N
F o r e i g n G o v e rn m e n t
A rg en tin e— In tern al 5 s o t U
-M-S
Im perial Jap an ese U ovurm u i
FA
3d series 4 *28.............
S terlin g loan 4 a ............. 1031 J J
M ^
J.J
U 8 ot .M exico s t :
J-D
■Stale anil C ity S e c u r it ie s
N Y C ity—414a . . .................196
12
___
M-N
Al-N
Al-N
N ew 4 >38........................... 1 '1 7 M-N
M-N
M-N
M-N
J -J
J -J
J -J
J -J
It n llr o n d
* laoam a C ent nee
80 Uy
A lleg & W est nee B u n U * .
Ann A r b o r la t g 4a......... A lo o f y-J
A-O
A-O
N ov
Nov
M-N
J-D
J-D
J-D
10-year con v g o a ......... l o ! 7 J-U
FA
F-A
M-S
J -J
M-S
A.U K n o x db N nee B & N
A tla n tic Coast la t g 4S.A1051 M-S
M-N
j -j
J .J
M-N
A-D
A-O
J -J
A tla n tic & ila u v nee 8outii tty
A ustin db N VV See S o u r
J .J
alt db O luo p rior l g 3 Hu
U-J
Itegla tored...............
A-O
y -J
j -j
M-N
P L K d i W V a .S y sre t 4slU41 Al-N
J -J
y -J
M-S
A -o
F-A
J-U
A-O
A-O
J -J
J-D
Beeoli C rock nee N V C <fa a
B o ile r db Car nee lU lnois Cent
B klyn db M on tau k nee B on g 1
Bruns db W est nee A tl C oast B
Buttalo N If * B rio nee Brio
Bultalo li A P gen g 6 a ...1037 M-S
Consol 4 * s s ........................ 1057 M-N
A ll db W ost l a t g 4s g u .,1 0 0 8 A-O
01 do .Mali 1st g u g 6 s ....1 0 4 3 J-J
ItOOll db Pitta 1st g lis ...1 0 3 1 F-A
C on sol la t g Os..............1033 J -0
Bull db Susq 1st ret g 4s.d 1051 J-J
B u r C It & N nee C It 1 db P
lan 80 1st e x t O a ..............1013 J-J
/3d 6s ................................... 1013 •VI- S
U egiatered.......................1013 M-S
Cart) db Mliawn nee 111 Cent
Carolina C o m nee S cab A ir B
Carthago & A d nee N i ’ c db 11
Ceil it l a B db N nee B C U <fc N
Cen B ran on B y nee Alo Pao
Cent o l Ua B it 1st g 6 a ..p l0 4 5 B-A
C on sol g old 5a................... 1045 M-N
B e g is to r o d .......................1045 M-N
la t pret in com e g 6 s ... .p l 0 4 6 Uct
S ta m p e d ...................................
3u pret in com e g 6 a ....p l0 4 5 Oct
2d p te f in com e g 5a stam ped
3d prof in com e g 6s . . . . p l 046 Oct
3d pref in com e g 6s stam ped. . . . .
B
C
CO
I ’r itc
fr i d a n
Dec 30
W eek’ s
Dant/e or
Last nate
1O3O
A-O
J -J
J .J
a-N
F-A
f -a
B-A
B-A
J .j
J-J
j .j
J-J
FA
A-O
VI.N
Al-N
J -J
il-fe
*N<> price Friday; latest tills week
P r ic e
tr v ia o
Dec 30
W eek’ s
P a n g s or
Da st nala
D aunt
nviLce
^ -a Daytuary l
Do Dow H ig h C en t ot G a B it —{ v o n )
Did
ASK Dow
JHiyh
Dow Jlv/h
Chatt i n v p u r m o n g 48.1051 J-D
Hi
DO
100*4 101*4
OoOg Sep ’b o
Alao db N o r D iv la t g 6s. 1040 j . j 106 4 1U0 1043g 10-1--V,
. ... 1U0*4 HU *>4
Lo 4'*8 i ll 4 ^
___ 10 l a4 10234
Aliil G ads A t l D iv 6 a ....1 0 4 7 j . j 105 * ,____ 115 N o v ’ 05
M o b ile D iv la t g 6s........1040 j . j
101 *4 103
111) Jan MO
i ' 1'6" i i o ‘ *
10234 N o v ’ 10
102*3 102*8 Cen itltdb B o l Ua c o l g 03 1037 M-N 102 105
102 103
114**8 115*3 Cent o f N J g e u ’ lg o lu u s . 1087 j . j 121J4 122 >3 122
122 Hi
120 125*2
lie g is t e r o d .................. /ilOSV y . j
1 2 1 ‘4
114*3 l l u a4
1 2lH iD eoT O
120*4 125
A m D o ck db I m p g u 6 s ..1021 J .J
108 ...
100=8
100
°e
108
N
o
v
’
10
107 109
—•
Be db l iu d it gen gu g 5a 1020 j . j 101 ...
Boh db W ilk s B Coal 6 s . . 1012 M-N 100Hi . ..
100 Hi 100 Hi
100 -2 101*4
Con e x t g u a r4 * a s___ </101O y.Jl
100 May’ 1 0
t 97*4 9 7 7e U7**8
97*a 10 0 5 34 08*8
100 100*4
N if db G o n g ilr g e n g 4 s 1041 M-S
0 9 ‘4 ........
98
993s
OS^ D e c ’10
053,
05 Hi 01 04
t 95*8 Sale
96 Hi Cent P a cid o nee So P a cific Co
93*8 9 5 78 C e n t V e r m o iit ls t g u g 4 a .e l0 2 0 q . f
87 Hi 00
| 06*8 06*3 06*S D e o ’ 10
87 3g N o v ’ 10
85
8834
8034
8034 16 88 *8 02*5 Chas db b a r nee A t l Coaal B ine
i a o -4 sale
13 101*4 104
Clies db O luo go ld Os..........a.1011 A-O .......... 100 *4 100 N o v ’ 10
4103 Sale 102**4 103
10 0
10 1*4
2 1195 07*3
9?
4 07
0 7 't 97
G en f u n d i n g * im p t 6 s .l 0 2 0 J .J 1 0 2 * slo S
103
103 Hi
102 105*a
4 07 *8s a lt 97
97**8 27 05*3 0Oa4
la t c o n so l g 6a................... 1030 M-N 1123, 113 H 1 12a4 113 H 14 UOHi i i 4 »4
02*8 04
02*8 V2 *s
02*8 07 *5
ite g ia te re d ....................... 1030 M-N
112*2 J a n ’ 10
112*5 112*5
tiese a r e p r ices 0 n the b asis 0/ $5 to &.
G onerat gold 4 His............. 1002 m -S
i o i *4 Salb 1 0 1 * 4
1 0 1 Hr
OJ 103*2
ite g is le r e u ....................... 1002 M-S
l o i ’ s J ’n e ’ io
1 0 1 78
101*8 Sale 101*8 101*4 298 100 101 3y
C o n v e rtib le 4 4)8 ............. 1030 f - a
03 ‘4 Sale
03 34
04H,
80
05 >4
00a4 Sale 09*2
09*4 7 1 Ot) 100»8
tiig s a u u y la t 4 s ..............1041 J-D
88 D e o ’10
87
80‘
00 >ule 09**» 00°8 10 1)6*4 100*3
Coal Itiv B y la t g u 4s . . i o i b j - d
85 J4 87
8634 N o v ’ lu
83
88*2
C raig V alley l a t g 6a___ 1040 j . j
107*4 107*2 107*3 107*3 15 105 H>l o o 7e
102»4 106
104 Hi Sep ' 10
10 1
104>*
102 *5 sale 102*5 102*8 10 L02*4 103 *i
P o tts C reek B r la t 4 a . . l o i u j . j
81
00
00 J a n ’00
107 y 107H) 107*4 107 bt U 7 105*4 n o
it db A D iv l a t c o n g 4 a ..i0 8 0 j . j
00 Sale
00
00
04*5 00
10J ‘4 102H) 102 5 102*3 1 102 104
2d co n so l k 4a................. 1080 J .J
00
02 7( 01 Sep *10
00*2 03
lli
W arm S pr V ai la t g 6 a . . 1041 M-S lO lH l........ 113*4 B e o ’06
00*3 00^ 00O»
0O®»
06*4 100*3
G re e n b rie r B y l a t g u g 4s ’ 40 M-N
85
02
......... 1 0 4 ’ s 1 0 4 U e c ’ lb ___ 101*4 105*8
05 O c t ’ 10
87*8 05
72=4 74**8 7234
lb3 H iJ ’l y ’ 10 ___ 103Hi 103*5 CJ110 db A lt B i t ret g 3 a ...1 0 4 0 A-O
70
77
0 5 7» D e c ’ ll) __ t 04*4 06
D a ilw a y l a t lie u 3 *38. . . 1050 j . j
06 78 07
70*4 -ale
7o
To *4
08*4 75
88 N o v ’ lU
ite g ia te re d ....................... I05u J .J
76 O ct ’00
87
0O7b
42
43
43
43
1 36
66 Ohio B u rl db U— Den v D 4s 1022 F-A
00 H, 00*4 D e c ’10
Oe’ e i (io “
Illin o is D lv 3 * a » ................1040 J -J
88 Hi 88
68
80*5 8 J*t
Itegia tered .......................1040 J .J
8034
88 S e p ’ 10
87*5 88
i ll s D iv 4 a ......................... 1040 J . J
100 Hi Sale 100
100*8
93 *5 101
Io w a D iv uuik tuud 6 a ..1010 A-O 104 Hi......... 10434 D e o '10
10134 104*4
8 in k in g lu u d 4 s ..............1010 A-O
00*8 lOOHl U O y D e o ’ lo
08 *5 100
0a °8 08=4 U834 U834
N eb ra sk a e x t e n s io n 4 s .1027 M-N
08 100*4
08*8 08*8 101 ‘ e M ar’ oo
Itegia tered.......................102V M-N
00
......... UO D e o ’ l o
Suu iu w eatern D iv 4 s . ...1 0 2 1 AI-S
77*4 7 8 7* 79 D e o ’ 10
74
83Hi
07 H» 00
9 0 °i Sale
00
0078 i'37 97H) 101
J o in t bonds n et G reat NortU
98 ......... 98*8 D e c ’ l o __ _ 98 100
D e b e n tu re 6a.....................1013 M-N 101*8 101=8 101*8 101*8
073$
sale
07*8
07
>
8
Ol*a 02
4
G
en
eral
4a..........................
1058
MS
0 0 34 1 0 0
88 06
01*4
U1J4
0‘d J a n ’ lu
92
92
iiu n <fc> 8 t J oa con sol O s.. 1011 M-S 100*4 1U0®8 1 0 0 -j D e c ’ 10
013 b
92
O ly 09
61 80
62
82 H. 83 D e o ’ lo
04»4 Clilodb B l l l r e f de im p g 4a 1066 J - J
81
80*
lo 4
106
106*8 D e o ’ lo ---T 105 117
121 J ’l y ’ 10
la t c o n s o l g Oa................... 1034 A-O
121 127
106 ‘4 su it 106*4
105*2
4 100 12278
1083g 113
G eneral co n s o l l a t o a . .. . 1037 Al-N 110 110 Hi 110 Hi 110 Hi
102*4 102H, 101 a4 102
0 08 104*4
11-1 Alay’ oO
B o g ia te re d .......................1037 Al-N
108*5 s a le 108*4 10S '3 70 10434 122=8
C h ic Ob m u C B y r s t 6 s . 1030 J-J 109 >* 111 110 O c t ’ 10
no u a
00 ......... Ogv, Jau ’ 10 ___ 0 8 78 9 8 7# C h icago db B rie nee Brie
0 8 * 8 ......... 08*2 B e b ’ i o
08 *i 08 y CI110 U t W e s te rn 1st 4 a ...1 0 5 0 Al-S
00 84
64*8 8434 8 4 *a
85
87*2
0b * « ......... VOHiDeo’ lo
0 6 3, 07*4 C h ic In do B ou iav re i 0 s . . . l 0 4 i J - j 126 sale >128
128
124*8 120*2
03
03*3 03*8
03*%
8 02 01**4 B etu u d iu g gold 6 s ........... 1047 J -J 1 07 *8......... 1114 D e c ’ 09
* 100*4......... lOOHl 109*8
1 107*8 100*3
B ou iav N A db Ch 1st O s.1010 J -J ..................... ' lUu J ’n o ’ iu
100 100*4
Ohio Xnd db S ou 60-yr 4 a ..l 0 5 6 J - J
9l 34 06 I 02 D e c ’ 10
12
04
94 Sale
04
94*8 30 02
0 6 7s Cluo MU db St P term g us 1014 J -J 102*3 102^ 102*8 H>9=s
1023g 1031,
I 0734......... i o y s o p ’ oo
G eneral g 4s aeries A ..« 1 0 a o
00 *a sale ) 00*8
00 Hi
08 100*2
0 4 * « ......... 04»8 N ov ’ 10
ite g ia te re d .....................sloeO
94=8 y 'i0*
..................... 103 *a O ct ’08
131 .........
G e n e r a lg 3*48 series B .dluoO
8 7 j4 88*» 88 *8 Dee ’10
86 »8 80
02*4 02 *s 02*3
»3 7s 01 80
05 *3
25-yr d e b e n 4a ..................1031
02*s 03
0234 02 .
01*2 03»4
123*3 ....... 124 >* D e o '10
124*8 124*8
ChlO db B SU DlV g 5 a ....1 0 2 1
100=8.........'1 0 7 *4 Alar’ lu
107*4 108
110*8......... 112 M ur’ 10
112 112
Chic db Alo itiv DlV O s... 1020 J -J 108*4 ......... 1 0 8 Hi O ct ’ 10
107
110*4
05 *3......... 06 J ’l y ’ i o . . . . 05
97>a
Clue db P W l a t g 5a........1021 J-J
100°8 10078 lOli Hi u e c ’ lo
106 :*s 10834
103*8 104*8 103 *8GCt ’ 10
D ak db G t 80 g 5a............. 1010 J -J
102*5 1U3;*»
110*4......... 110**4 M ay’ 10
Bar db 8ou aaau g Oa........1024' J-J
1' O3* l l b 34
92 *a Salt
03
16 00
02*a 93
B aC roaaedbD l a t O B ....10 10 J •J 105 *4......... 105*8 D e e ’ LO
104*5 10b
Oo
014, 01*4 O ct '00
l o O ^ ....... . 100*5 I 0OH1
W ladb M i n u D i v g 6e . . . . l 02l ! J - J
106*5 l b s
00
o o y 48 07 *4 100*4
09 Sale
M il db N o la t c o n s Oa....1 0 1 3 J-D 103*8 101 *2 10338 A u g lu
iOU°8 105*2
00*4 OV7* OOHlNov’ lO
06
09 *s
E x te n d e d 4 S a ............... 1013 J-D 100*4 10U*5........................
1 11 *4......... 112*8 112*8
i 112*8 112*8 Clilcdb N o rth w eons 7a___ 1016 U- F 110*5113 110*5 u o H i
iiuH i 113
87j4 68*4 87*4 D e c ’ lo . .. 87*4 SU'a
E x te n sio n 4a......... 1880-1020 F -A
00 * 4 ......... 1 ou 34 D e c ’ 10
00*5 101
0 2 S 90 89
02
02*8 01 34
03
ite g ia te re d ........... 1880-1020 B-A
05*8 J ’l y ’ i o
95*8 05*2
0O»8 Sale
00*5 9034 15 80
0234 G eneral g o lu 3Hi»............. 108? ! m -N 88 Sale 87 =8 88
37
00
88*4......... 80 Hi A p r ’ lo
ite g ia t e r e d ...................j»1087 y - F ..................... I 0 3 ‘s A p r ’ 00
80*3 90*3
100*3......... 103 ABU” 10
1103s n i o4
S in k m g tuud Oa...1 8 7 0 -1 0 2 0 A-O 111 *8......... 110=4 Sep ’ lu
103 103
108 ......... UO D e o ’ 10
100 113*3
ite g ia te re d ........... 1870-1020 A-O 110 .........U l * i N o v ’ OO
101**8......... 1067e B o b ’ 07
S in k in g lu n d 6s. ..1 8 7 0 -1 0 2 0 A-O 10538 108 Ii 00=4 D e o ’ 10
105 1U0
100*4......... 112 D e o ’ OO
ite g ia te re d ........... 1870-1020 A-O
1 0 4 -a ......... 'l o o Alar’ lu
100 100
103 110 112 N o v ’OO
D e b e n tu re 6a.....................1021 A-O 100 107*5 100 D e c ’10
105 107
113 ......... U O *3 Mar’04
ite g ia te re d ....................... 102I A-O ......... 106=4 100Hj b e o ’ 10
100*2
100
ObHl......... 08 *5S ep ’ 00
S in k in g lu n u aeb 6a........1033 M-N .....................100 Sep ’ 10
109 111
80 ......... 100 N o r ’ 04 . . . .
ite g ia te re d .......................1033 M-N
100 J ’l y ’08
.....................
MU B8<Jb W est 1st gOa 1021 M-S 115 115 * 116 D e o ’ l o
114*2 117*4
1U0 N o v ’ 10
100 11234
E x t db i m p a tuud g 6a 1020 F-A 100
A sh la n d l l i v 1st g 0 8 ..1 0 2 5 M-S 1 li Hi........ 142*a i-tb ’ 02
1 17 *»...........113*4 N o v ’ 10
118*
M ich D iv la t g Oa......... 1024 J - J
100*
i n c o m e s ...........................l o l l M-N' lUOJ4 aalo :100;*4 100*4
111*8 11678 116H)J’l y ’ 10
11376 116*3 C h ic B o c k 1st db Pac Os. ..1 0 1 7 J - J l O o ^ l l O ' 1 o 038 D e c’ 10
100*
106**8 100' 108*8 D e o ’ 10 ___ 106 1 0 0 ' b
100
ite g is te ro u ......................1017 J •J l‘ u s 110‘s 1U0 Aug’ lo
0 0 * 8 ......... bb A u g ’ 10 |tt, 06
00*8
07 *4 073s 07 *4
b7 *2 17 04*
G en eral golu 4 s ..................1088 J-J
108*8......... 103 J ’l y ’08
08*
B eg m tereu .......................1088 J-J
08*4 B e b ’ io
116 J ’ n e ’ 10
1)6*3 118
i 15 117
Sale j 63**6
B e iu u d iu g g 4 s ................io 3 4 A - o
80 V 163 8ti
ne
......... 1 1b *4Sep ’ i o
1 16*4 1 1634
07*
hi
C oll tru st S e n e s J 4 s ___ 1012 M-N
72 Alar’ 10 . . . . 72
72
......... 73
04*00 D e c '1 0
A1 >8............................................ 1015 M-N06**4
D ec '00
N 4 s . . . ....................................... 1010 M-N05
103 103 Hi 103*4 D e o ’ 10
102*3 105 ®8
O 4 s ............................................. 1017 M-Nl<4 ......... 1
04*4 04*j
l o o *8 101 1 0 l
101
5 100**8 J0134
P 4 s ............................................ 1018 M-N0334 05 I 03 ‘a Aug’bO
100*3 D e o ’ 10 . . . J 100*3 100*3
v
73 bale 1 72**4
CUio It 1 db P a o B it 4 s ..2 0 0 2 M-N
8 9 '8
8 3 7|
Itegia tered.
7 t i J4
80
R I A t k d b L o u ls la t4 H i8 1034 M-S ......... 03 | 04 N ov 10
03
00
112 111 D eC’ 10
Bur C B db N — i s l g 08.1031 A - o 110*3
110*5 112
110 1141,
iteg iacerod................... 1034 A-O .................... 12 o Hi i u u i ’03
C itl!)'d s N W i s t g u o s .1 0 2 1 A-O 104*4 ......... 10UJ4 O ct TO
IOO3! 108
111 *3......... 1003s O c t ’ 10
100*8 113 Hi
M db St B 1st g u g 7 s . . 1027 J-D
107*3 Sale 107*3 107 V
3 10334 100
lUo*8J81U4
C hoo Ok db G go u g o s .o iO iO J -J f ......... 103
104 .Hay TO
104 104
1
o e 34
Consul gold us................ 1062 M-N l10oa
411iiou*s5 lii6
u 338
3 10 7*3 n o
i 0 8»8
6a i108=8
102 , 73 82 102
101 sale 101
K o o k db D es Al l a t b a . ...1 0 2 3 A-O lUO*i
lU U *i........ lOOHl
1 100 104
100*3 100*2
100*3
102 | 10 84 102
101 *4......... 102
lin o o t u do N u nee 1U c o m .
75 101
00*3 D e o ’ 10
00*3 100
Clue St B do P itts nee t ’eu n C o
8 8 \ N o v ’ 10 ••••' 76
883s Bile 31 P Al db U OOU (is ...1 0 3 0 J-D 123*, . . . 11 2 4 '4 D e c ’ 10
00*3 l o o
123 127*4
00
00**4 36 75 100
00
100
85
C ons lis re d u ce d to 3H i».1030 J-D
03 UCC’ OJ
1
I
86
85 *8 O c t ’ 10 . . . . 80
00 100
Hia
AStcLviu
H iufl
1U034 101*4 l 0UJ4 O ct ’10
100*4 101 5 lo o 1 ne' lo
102 102'*4 101*)< N o v ’ lC
102 1U2*4 102 *3 Due ’ 10
..................... 101*4 J ’ l y ’ 1'1
1 lu*a 110*4 115*4 D e o ’ 10
1 15 -i 1 1li *3 115 *3N o v ’ It
10U*u......... 100»8 A u g'10
10/*«_
122)a
Id7,
... 80^
0
80
8=8
100*2102*
100*2102
12334120
lU l.-'C K E E A N E O U S
S t r e e t It n il w a y
B rook lyn B ap T r g 6a........1046
la t refu nd c o n v g 4 s ___ 2002
B k C lty lstc o u 5 a .1 0 1 ti.1 0 4 1
B k y C o d b S cou g u g 68.1041
B k ly n Uu E l 1st g 4 -o s .l0 5 o
Stam ped gu ar 4 -6 s ....l 0 6 u
K in g s C o K1 la t g 4 a ....1 0 4 0
Stam ped gu ar 4 s ......... 1040
N assau E loo g u g 4s ....1 0 6 1
Conn B y db B la t db ref g 4 *38'61
Stam ped gu ar 4 His......... 1061
D et U nited la t con g 4 *28.1032
H avan a E le c co n s o l g 6s . 1052
In ter-A let coil 4 His.............loot.
In te r Bap T 3-yr co n v Os. 1011
45-yoar 5a S eries A ........1062
I n te r n a l T ra o c oll tr 4s .. 104:
M an ila E lec la t db c oll 6a. 1053
BONDS
N . Y. S T O C K E X C H A N G E
W kkk E nding D ec 30
D angs
nince
\J a n u a ry 1
103 Sale 103=4 104
82 7 Sale
83
82=8
lU3 103*2 103
103
08
08 D e o ’ lt)
i b o ’ 102
10138 l O l 3*.
........ 102 101 Hi N o v ’ 10
85
84*4 D e c ’ l t
"84*
81 Hi 85
85
......... ? 8 *4 78 D e o ’ H
1021, 102*8 M ar’ ll
ib"6«i io i* v 101=4 A u g ’ ll
......... 80
D eb’H
04 H 06=4 N o v ’ l
70 h Salt80
7 0 '»
100*5 Sale .00*3 100H
103=8 Sale 103=8 103 V
......... ......... 6 /'a A lar'It
08 M uy’Of
.......... — -
IlFlat. a Due Jan
B O N D S — C o n tin u e d o n .Nexl P a g e .
12 10134 105
109 70 34 87
%
l 100*3 104
9 f Hi mi
A 09 103
90*8 103
8 2 3, 85
6 80
85
. . . . 76
82
I62'g 102
100*3 102
79
82
03
05
.156 7 7
83
l 100 *4 104
84 100 104
,
07*8 67
......... ........
S t r e e t Itn iU vn y
M et S t B y go u co i tr g u s .100?
B e f g 4 s ...............................2002
B w ay da 7 th a v 1st c g 6s 1043
Coldb Oth A v l s t g u g 6 s .1006
B ex A v db P B’ la t gu g 6s 1006
T h ird A v o B B c o n gu 4s 2000
C e n t T r Co c e r tfs s tm p d ...
T h ird A v e B y 1st g 5 s ..103'.
N O rl B y db Bt g e n 4*aS ..1 0 3 i
St J o s B y B t U db P i s t g u s ’ 3 ,
St P a u l City Cab co u g us.103".
T ri-C ity B y & B t 1st a f 6a. 10 23
U n derground o f Bon 6 a ...1 0 2 0
4His....................................... 103:In c o m e Os...........................1046
U nion E l (Clue) 1st g 6 s .. 104;
U nited lty s St B 1st g 4s. 103-1
U nited B it s s a n E r s t 48.102?
dDue Alir eDuo Aluy
y Due.I’no /iD u ej’ly
B-A
A-O
I -D
M-S
)l-S
J-J
.i - j
j -j
J-N
J-J
A-O
M-N
J-J
At
I-J
At
kDue Aug
78 Sale
73
78
48*3 50
48 D c o ’ 10
102 *3 Sale 102*3 102*4
08H) 160
08*3 D eo TO
08 ......... 9 S y N ov’ 10
60**8 sale
10SH1 n o
......... 85*4
......... 00
164 .........
98*4 98*2
05
0034
90*4 01
37=4 38*4
......... luO
......... 81^
06 -a 68*4
oDue uct
7
59
60*2
D e o ’ lb
8 1 7g O c t ’ i0
08 N o v ’Ofc
107=8 D e c ’ 00
6
08*«
08*2
08 A p r ’ 00
00*8
00*2 22
33
38*4 3b
84 O ct ’08 . . . .
80 A u g’ 10
67
67
2
108
7434 824
46
54
-8*2 102 4
06 102
06*4 00
67*4 60 *t
68=1
42 55
105*3 1 0 8 7i
8 4 7e 87
0
06
___ _
00
0 0 *j
83
31*4 40
79**4 " 8 * 1
65
74
p Duo Nor lOption 8al«
;
[VOL. LXXXXI.
New York Bond Record—Continued— Page 2
1754
BONDS
P r ic e
F rid ay
Deo 30
N. T . STOCK E X C H A N G E
W e k k E n d in g D ko 3 0
O h io S t P M * O — (Con)
C h S t P & M in n l s t g 6 s 1 9 1 8
N o r W is c o n s in 1 st 6 s ...1 9 3 0
S t P * S C i t y 1 s t g 6 s . . . 1 9 19
O h io * W est In d g e n g 6 s 7 1 9 3 2
C o n s o l 5 0 - y e a r 4 s ...............19 5 2
C lu e & VV M i c h nee JPere J la r q
C h o c O & G u l f tiee O H I & P
O ln ±1 * D 2 d g o l d 4 w,8 ..-. 1 9 3 7
C in D A 1 1 s t g u g 5 s . . .1 9 4 1
C f i n d & F t W 1 s t g u 4 s v .’ 23
C ln 1 & W 1 s t a n g 4 s . 1 9 5 3
I n d D e c & W 1 s t g 5 s . ..1 9 3 5
1 s t g u a r g o l d 5 s ...............19 3 5
C I S t R A O nee O C O & S t R
O ln S & O nee O O C S t h
O le a r lie ld & M a h nee B i l A P
C le v C in O A S t R g e n g 4 s 1 9 9 3
C a ir o D l v 1 s t g o ld 4 s . . . .1 9 3 9
C ln W & A1 D iv 1 s t g 4 3 .1 9 9 1
S t R D i v 1 s t c o l t r g 4 s . .1 9 9 0
R e g is t e r e d ....................... .1 9 9 0
S p r * C o l D i v 1 s t g 4 s . .1 9 4 0
W W V a l D lv 1 s t g 4 s . . .1 9 4 0
0 I S t R & C con sol 6 s ..1920
1 s t g o l d 4 s ................ . . . * 1 9 3 6
R e g i s t e r e d ................. * 1 9 3 6
C ln S * C l c o n 1 s t g 5 s. .1 9 2 8
O O O & l c o n s o l 7 s ...........1 9 1 4
C o n s o l s i n k fu n d 7 s ___ 1 9 1 4
G e n e r a l c o n s o l g o ld 6 s . 1 9 3 4
R e g is t e r e d ......................1 9 3 4
I n d HI & W 1 s t p r o f 4 8 .1 9 4 0
O I n d * W 1 s t p t 5 s . . . .( 1 9 3 8
P e o & E a s t 1 s t c o n 4 s . . .1 0 4 0
I n c o m e 4 s ........................... 1 9 9 0
C l e v & M a r ie t t a nee P e n n R l t
C le v & P i t t s nee P e n n C o
C o l M id la n d 1 s t g 4 s ...........1 9 4 7
C o lo r a d o <& S o u 1 s t g 4 s . . . 1 9 2 9
R e f u n d A e x t 4 % s ............1 9 3 5
F t W * D o n C 1 s t g 6 s . .1 9 2 1
C o lu m * G r e e n v nee S o R y
C o l & H o c k V a l nee H o o k V a l
C o l & T o ! nee H o o k V a l
C o l C o n n * T e r m nee HAW
C o n n * P a s R i v s 1 s t g 4 s . 1 9 4 3 A -O
C u b a l t R 1 s t 6 0 - y r 5 g . . . . 1952 J ■J
l \ a k * G t S o nee O M * SC P
1 D a lla s A W a c o nee M K & T
D o l H ack A W e s te rn —
M o m s * E s s e x 1 s t 7 s . . .1 9 1 4 M-N
1 s t c o n s o l g u a r 7 s .........1 9 1 5 J -D
R e g i s t e r e d ......................1 9 1 5 J -D
1 s t r e f g u g 3 >28..............2 0 0 0 J -D
N V H a c k A W 1 s t 6 s . . . 1921 J - J
C o n s t r u c t i o n 5 s .............1 9 2 3 F -A
T e r m * i m p r o v e 4 s . . . . 1 9 2 3 M-N
W a r r e n 1 s t r o l g u g 3 >3 8 .2 0 0 0 F -A
D o l * H u d 1 s t P a D lv 7 8 .1 9 1 7 M -S
R e g i s t e r e d ......................... 1 9 1 7 Al-S
1 0 - y r o o n v d e b 4 s .............1 9 1 6 J -D
1 s t lie n e q u i p g 4 % s ___ 1 9 2 2 J - J
1 s t * r e f 4 s ............................1 94 3 M -N
A l b A S u s e o n v 3 % s.........1 9 4 6 A-O
R e n s A S a r a t o g a 1 s t 7 a . 1 92 1 M-N
D o l R l v R l t B r i d g e nee P a U R
D e n v & it G r 1 st co n g 4 s . 1936 J -J
C o n s o l g o l d 4 Sis..................1 9 3 6 J -J
I m p r o v e m e n t g o l d 6 s . . .1 9 2 8 J - I )
1 s t & r e t u n d i n g 5 s .......... 1 9 5 6 F -A
R i o G r J u n o 1 s t g u g 5 s . 1 9 3 9 J -D
R i o G r S o 1 s t g o l d 4 s . . .1 9 4 0 J - J
G u a r a n t e e d ........................1 9 4 0 J - J
R i o G r W e s t 1 s t g 4 s . . ..1 9 3 9 J - J
M g e a n d c o l t r u s t 4 s A .1 9 4 9 A -O
U t a h C e n t 1 s t g u g 4 s <*1917 A -U
D e a M 0 1 * F t D nee M * S t i ;
D e s M o i U u R y 1 s t g 5 s . .1 9 1 7 M-N
D o t A M a c k 1 s t lie n g 4 8 .1 9 9 5 J -D
G o ld 4 s ......................................1 9 9 6 J -D
D e t S o - U S D lv 1 s t g 4 3 .1 9 4 1 M -S
D o l * i r o n R a n g e 1 s t 5 s . . 1 93 7 A -O
R e g i s t e r e d ..............................19 3 7 A -O
2 d 6 a ..........................................1 9 1 6 J - J
D a l S h o r t D in e A e o N o r P a o
D a l S o S h o r e * A t l g 6 s . .1 9 3 7 J - J
v a s t o f M in n b’e e S t P M & M
L a s t T e n V a * G a nee S o R y
E l g i n J o l * E a s t 1 s t g 6 s . 1941 Vl-N
E lm C o r t A N o 6'ee R o l l * N V
E r i e 1st c o n s o l g o l d 7 s . . . .1 9 2 0 Al-S
N X & E n e l s t e x t g 4 s 1 9 4 7 M-N
2 d o x t g o l d 5 s . . ................1 9 1 9 M -S
3 d e x t g o l d 4 % s ................1 9 2 3 M -S
4 t h e x t g o l d 5 s ................. 1 9 2 0 A -O
5 th e x t g o ld 4 s ................. 1 9 2 8 J -D
. N X R E & W i s t g fit 7 8 .1 9 2 0 M -S
E r ie 1 s t c o n g 4 s p r i o r . . 1 9 9 6 J -J
R e g i s t e r e d ..................... 1 9 9 6 J -J
1 s t c o n s o l g e n H on g 4 s l 9 9 6 J -J
R e g i s t e r e d ..................... 1 9 9 6 J -J
P e n n c o l l t r g 4 s .......... 1 9 5 1 F -A
6 0 -y e a r c o u v 4 > A ___ 1 95 3 A -U
do
S o n e s U .1 9 5 3 A -O
B u ll N Y & E r ie 1 s t 7 a . . 1 9 1 6 J -D
C h i c * E r i e l e t g o l d 6 s . .1 9 8 2 M-N
C le v * M a h o n V a l g 6 3 .1 9 3 b J -J
L o n g D o c k c o n s o l g 6 s . . 1 9 3 5 A -O
C o a l * R R 1 s t c u r g a 6 8 .1 9 2 2 M-N
D o c k * I m p 1 s t c u r 6 s . .1 9 1 3 J -J
N X * G r e e n H g u g 5 s . 1 9 4 6 M-N
N V S u s & W 1 s t r e f 5 s . 1937 J -J
2 d g o ld 4 123....................... 1937 F -A
G e n e r a l g e l d 6 s ............... 1 9 4 0 F -A
T e r m m a l l s t g o ld 5 s . . .1 9 4 3 M-N
M i d o f N J 1 st e x t o s . .1 9 4 0 A O
W l i k * E a 1 s t g u g o s . . .1 9 4 2 J -D
E v * I n d l s t c o u g u g 6 s . .1 9 2 6 J -J
1
Hk i
ASk
1 2 3 Hi..........
1 2 3 % 1 2 7 Hi
112% ...
109
llo %
9 2 % 93
Weetds
jg s
R ange o r
Last nale
L® o
Low
High \No Low High.
12 3
J ’ l y ’ 1 0 . . . . 123
12 7
129% M ay’0 9 ;. . . .
1 1 2 % D e c ’ 1 0 . — 1 1 1 % 114 %
1
0
8
%
112
1 1 0 % D e c ’ 10 - - -
92%
93
14 8 8
93%
113
1 0 3 *3 1 0 5 *s 105
.........
S3
101
104
O ct ’00
D e o ’ic
94% Sale
93
9 3 % D e o ’ 10
97 % ..........
9 3 % 97%
1 0 5 % ...........
107
...........
90%
93%
90
89%
94%
93%
93%
93 %
96
91
O c t ’ 07
90
D e c ’09
9 1 % D e c ’ 10
1 0 5 % F e b ’ 10
9 6 % D c c ’ 10
9 6 A u g ’ 10
108 O c t ’ 10
109% D e c ’ 09
94
91
69
J -D
M-N
A -O
J -J
j -j
F-A
M -S
J -D
F -A
M-N’
A -O
A -O
A -O
J -J
y -F
A -O
M-N
J -D
96%
93%
94%
96%
90
91%
105% 105%
96% 98%
96
98
103
108
119
125%
J ’l y ’ 08
90 %
58
94%
67
68
D e c ’ 10
66
G9
96
90
96% 96 %
9 7 % 0 7% 9 7 %
97%
113
Sale 113
113
65
81%
93
97%
94% 99
111% 114
90%
68
Week's
sg'
Range
Price
Range or S ’gi
Since
Friday
'January 1
Last Sale
Dec 30
Low Rig
Bid
Atk Low Rigt\
BONDS
N. X. STO C K E X C H A N G E
W r k k e n d in o D e o 30
E r i e & P i t t s See P e n n C o
E v a n s A X H 1 s t c o n s 6 s . 1921
1 s t g e n e r a l g o ld 5 s ...........1 94 2
A lt V e r n o n 1 s t g o ld O s .. 1 92 3
S o il C o B ra n ch 1 st g 6 s . 1930
l / a r g o * S o See O h M * S t P
1 l i n t * P o r e M See P e r o M a r
F la C & P e n in See S e a A i r H ln e
F o rt S t U D C o 1st g 4 % s .l9 4 l
F t W * R io G r 1 st g 4 s . .. 1928
I 1 al l i a r * S A See S o 1 'a c C o
' X ai H * H o f 1 8 8 2 1 s t 5 8 .1 9 1 3
G e o r g ia A A l a See S e a A Lane
G a C a r & N o r See s e a A Lane
G e o r g i a P a c it t o nee S o iiy
G ila V G & N o r See S o P a o C o
G o u v * O s w o g a t Seen Y C e n t
G r a n d R a p * I n d See P e n n R R
G r a y ’ s P t T e r m See S t H S W
G t N o r — C B & y c o ll t r 4 s 1 92 1
R e g is t e r e d , / t ........................1921
S t P a u l M * M a n 4 s . ...1 9 3 3
1 st c o n s o l g o l d 6 s ...........1 9 3 3
R e g is te re d ................... 1933
R e d u c e d t o g o l d 4 %s 1 9 3 3
R e g is te re d ................1933
M on t e x t 1 s t g o ld 4 a ..1937
R e g is t e r e d ......................1 93 7
E M in u N o r D iv ls t g 4 «194 8
M u m U n io n l s t g 6 s . . 1 9 2 2
M o n t C 1 s t g u g 6 s ___ 1 9 3 7
R e g is t e r e d ..................... 1 9 3 7
1 s t g u a r g o ld 6 s .........1 9 3 7
W i l l * S F 1st g o ld 5 s 1938
G r e e n b r ie r R y See O lios * O
G u lf & S 1 1 s t r e t * t g 5 s 5 1 9 6 2 J - J
a n A S t J o See C B * y
o u s a t o m o Seen X N HA H
H o c k V a l 1 s t c o n s o l g 4 % s .l 9 9 9 J -J
R e g_ is t e r e d .............................
1999 J - J
____________________
C o l & H V 1 s t e x t g 4 s . . 1 9 4 8 'A -O
C o l A T o ! 1 s t e x 4 s .........1 9 5 5 F - A
H o u s t E & W T e x nee S o P a c
H o u s t & T e x C e n See S o P a o C o
U in o is C e n tr a l 1 s t g 4 s . . 1 9 5 1 J - J
R e g is t e r e d ......................... 1 9 0 1 J - J
1 s t g o l d 3 % 8 ......................... 1 9 5 1 J-J
R e g is t e r e d ......................... 1 9 5 1 J - J
E x t e n d e d 1 s t g 3 % s ......... 1 9 5 1 A -O
1 a t g o l d 3 s s t e r l i n g ...........1 9 5 1 M- S
C o ll T r u s t g o l d 4 s .............1 9 5 2 A -O
R e g is t e r e d ......................... 1 9 5 2 A -O
1 s t r e f 4 s ............................... 1 9 5 5 M -N
R N O * T e x g o l d 4 s . . . 1 9 6 3 A1-N
R e g is t e r e d ......................... 1 9 6 3 Al-N
C a ir o B r id g e g o ld 4 s ___ 1 9 6 0 J -D
l i o m s v D l v * T e r m g 3 % s .l 9 5 3 J - J
M id d le D i v r e g o s .............1 92 1 F -A
O m a h a D l v 1 s t g 3 s .........19 5 1 F -A
S t D o u is D l v * term g 3 s . 1951 J - J
R e g is t e r e d ......................... 1 9 5 1 J - J
G o ld 3 % s .......................... 1 9 5 1 J - J
R e g is t e r e d ..................... 1 9 5 1 0 - J
S p r in g D lv 1 st g 3 % a ...l9 6 1 J -J
Y V ostern H in e s 1 s t g 4 s . . 1 9 5 1 F -A
B e l l e v * C a r 1 s t 6 s ......... 1 9 2 3 ' J -D
O a r b * S h a w 1 s t g 4 s . . . 1 9 3 2 M -S
O h io S t H * N O g 5 s . . . 1 9 5 1 J -D
R e g is t e r e d ......................... 1 95 1 J -D
G o l d 3 % s ............................. 1 9 5 1 J -D
M e m p h D i v 1 s t g 4 s . . .1 9 5 1 J - D
S t H S o u 1 s t g u g 4 s ___ 1 9 3 1 M -S
I n d B1 & W e s t See U O C * S t H
I n d 1 1 1 * Xa 1 s t g 4 s ...........1 9 6 0 J - J
I n t A G r e a t N o r l s t g 6 s . . 1 9 1 9 M-N
2 d g o l d 5 s ............................... 1 9 0 9 M -S
T r u s t C o c e r t f s .....................................
3 d g o l d 4 s ............................... 1 9 2 1 Al-S
I o w a C e n t r a l 1 s t g o l d 5 s . . 1 9 3 8 J -D
G o ld 4 s ..................................... 1 9 5 1 M -S
J a m e s F A C lea r 1 s t 4 s . . . 195 9 J - D
M ay’ 10
100
t 0 8 % 0 c t ’ 10
1 1 1 % D e o ’ JO
108% .
111% .
110%
103% 111%
111% 114%
110% 111%
111%
S o p ’ 09
91
........... 9 4
1 1 8 % N o v ’ 10
116% U 7
1 0 7 % .......... 106
O c t ’ 10
0 8 % .......... 9 8 % D e o 10
85
........... I 0 2 % r e b ’ 0 3
117% 120 1 2 0 O c t ’ 10
A u g ’ 01
116
1 1 7 % 149
98%
98%
9 8 % S a le
101
101
b a le 101
99%
100%
1 0 0 % Sam
93%
U3%
9 3 % S a le
1 2 3 % .......... 1 2 3 % S e p ’ l u
113
1 18 %
10 6
110%
97 % 10 1
I 20"" i ‘20%
96% i b * r
100
103
9 0 % 100%
91
97%
123% 130%
92 % 97%
1 01 % 104%
100
10 5
89
94%
93
93%
lo i
lo 2 % l o l % D e c ’ l o
1 0 3 % S u it 102 % 1 0 3 %
8 9 % S a le
89%
90
98
F e b ’ Oh
. . . . . . 105
78
D e c ’ 09
.......... 60
85
M a r ’ Ob
........... 7 9
90
91
90%
90%
83%
8 3 % 83 % fc3%
97
J a n ’ 02
9 3 % S a le
98
.........
88% 90
.......... 7 9
1 0 8 % S a le
94%
85
110 S o p ’04
94 Sop ’ l o
89 D e o ’ 10
71 O c t ’ 10
108% 108%
106% M a r’ 0b
94
88
72
106
1 0 6 % 109% 108% D e o T O
1 0 8 % ....
1 0 8 % N o v ’ 10
1 2 0 % D e c ’ 10
119% 120
98
....
10 0
J ’ n e ’ 10
104
........... 1 0 4 % O o t ’ 10
1 0 1 % ......... 1 0 0 % D e o ’ 10
1 0 3 % ..
1 0 6 % J a n ’ 10
93
______ 99% b 'eb ’10
.......... 1 1 9 % 1 1 8 O c t ’ 10
b4%
80%
8 5 % Sale
.......... 8 3 % 81 % Nu
74 %
' 15
7 4 % S a lt
........... 7 5
8 6 *a 8 6 % 86%
73
30
7 4 S a le
69
6 9 % S a lt
17
....
11 0 ]
1 0 9 % 112
3
1 1 1 % Sale U l %
111%
...
.
i
1 11 % ____ 121
....
122% . . . . .
ill
i.
1 0 3 % O c t ’ 09
9 9 % N o v ’ 10
101
D e c ’ 10
1 0 0 % D e o ’ 06
83
8 7 % 8 9 J ’ n e ’ 10
1 1 0 % N o v ’ 10
110%
1 1 0 % '.......... 110%
10U%
1 0 0 % S a le 100%
O ot ’09
110
......... 1 1 1
1 0 4 % iu a
lUO >8........
9 9 % ........
1 0 1 % lu 3
102
........
105 % 106
6 0 *a 61
106
106
60% S e p ’ 10
100% 100% i 00% D ec TO
........... 95% S e p ’08
........... 105 O ct MO
61 % O ct ’01
100 Oot ’ 09
98
101
103% D e o ’ 10
102% 103
07 M a r’ 10
.........
08
102
102
101 102
114 O ct TO
112% 116
88 N o v ’ 10
8 6 % ........
102 102 A 102 D e o ’ 10
100
1 0 0 % 100% D e c ’ 10
80%
89%
8 9 % 02
100
105
100
977,
91
74
111
111% 111%
111%
111%
1 0 1 % 1 0 1 % N o v ’ 10
114
A p r ’0 6
112
05
J ’ n e ’ 08
110
101
106
95
86
80
84%
92
84
A u g ’ 10
S o p ’ 10
97%
9D
07
J ’ l y ’ O0
101
88%
84
96 %
95%
9 5 % Sale
95 %
.......... 9 5 % 0 5 %
09
........... 9 9
98
126
1 2 5 % .......... 120
A p r ’ 00
132
105 %
i"t)5 % s a le 1 0 5 %
108 % J ’ n e ’ 00
-Db •*-' - * 9 5 % ” 9*7*‘ iJ
100%
09%
114
126%
136%
1 1 1 % 113% 112%
1 1 2 % ......... 116
95% ,
114
.
126% ,
91%
94
92
87
94% 97%
94% 96 %
98
100
125% 128%
103% 107%
0*7 % iob*%
G et ’ 06
Jan ’ l o
114
N o v ’ 10
viay’ Od
D e o '1 0
J ’n e ’ uO
89
102 %
09% 99%
113 114%
125 129
iio * * ii*3%
D e o ’ 10
87
94%
H
1 0 2 % S a le
94% .
96
.
102%
102%
0 9 % 104
1 0 0 % S e p ’ 08
03
D e o ’ 10
09% a e o ’ 09
104
L
100
99% .
J ’ n e ’ 10
. 102% 1 0 7 % A p r ’ 07
89% .
87 % ,
97%
97%
U7%
98%
101
94
115
Sale
111
116
104
106%
80%
07%
97% 100%
07%
06
92
00%
0 ( % 100%
06
96
8*7% * 8 8 %
*7*7% *77%
88%
101 % G et ’90
N o v ’ OO
06% D e o ’ 10
117 % M u yT 0
05% O ct ’ 10
116
115
118 M a r’ 10
90 O ct ’09
0 / % M a r’ l o
08 J ’l y ’08
89
96
95
98
U 7 % 117%
9 6 % 00
114% 119
118
118
97%
9 5 % 0 5 % 95% D o o ’ 10
1 0 7 % 108% 108 D e o ’ 10
M ay’ 10
102 % ......... liO
105
106
S a le 104
15 N o v ’ 10
1 4 % 15
103 % D e o ’ 10
103
105
65
6 7 % 6 7 % D e c ’ lJ
04%
05%
100
8/
96%
84%
93
94%
03
91
D e o TO
94
S o p ’ 00
9 3 % M u y ’ o0
8 0 J ’i y ’ 0 9
99
J ’u e ’ o o
07%
9 7 % 07%
00% Doo’lo
99
96
97% 0 6
lo o
A p r ’ 09
**95** 9 0
8 7 % A iu y ’ 10
8 4 % 87
1 2 3 M tiy’ 00
102 ,
77% M a r’ lo
74
74
7 7 % 70% D e c ’ 08
73%
89 F e b ’ 10
85
95
a n * M ic h See T o l * U C
1C C F t S & -M Nee S t H * S F
K O & M R * B See S t H * S F
1 0 0 % 108 % K a n U * P a o u io nee M 1C * X
K a n C it y S o u 1 s t g o ld 3 s . . 1 9 5 0
73
74
R e g is t e r e d ..............................i 9 6 0
108% 108%
l i e f * im p t 6 s A p r 1 9 5 0 ..........
101% Sale
K a n s a s C it y T e r m ! 1 st 4 s I 9 6 0 J
.......... 9 8
1 1 8 % 1 2 2 % K e n t u c k y C e n t aee D * N
100
100
K e o k * D e s A lo See O R I & P
1 0 4 % 1 0 6 % K n o x v i l l e & O h io See S o R y
100% 103%
1 0 9 % 110
j a k o E r ie & W 1 s t g 6 s .. 1937
1 0 6 % 1 0 6 % Lj 2 d g o ld 6 s ........................... 1 9 4 1
......... 100
90 % 0 9 %
1 0 6 % ........
N o r t h O h io 1 s t g u g 6 s . . 1 946
118
118
H S lio * A lic h S nee N V C e n t
8 u % 8 7 % D eli V a l N Y 1 s t g u g 4 % s .1 9 4 0 J - J *
107
103% .
R e g is t e r e d ............................. 1 9 4 0 . J
" 67*" **76% L e h ig h V a i ( P a ) c o n s g 4 8 .2 0 0 3 M
L e n V T e r R y 1 s t g u g 6 s . 1 94 1
113
113%
8 3 % 87%
R e g is t e r e d ..............................1 94 1
83
64
H ell V C o a l C o 1 s t g u g o s . 1 9 3 3
1 0 6 % .........
73% L e h * N Y ls t g u u r g 4 8 ..1 0 4 5
56
04
..
113%
110
R e g is t e r e d ............................. 1 0 4 5
11 5
110
K 1 U * N 1 s t p f 6 s .........1 0 1 4
102
G o ld g u a r 6 s ..................... 1 0 1 4
10U %
127
120
H eh * H u d R nee C e n t o i N J
114
11 4
H eli * W l lk e s b See C e n t o f N J
H e ro y * C a n e y V a l See M o P
9 9 % 1 0 3 % c o n g D o c k nee E r ie
99
1 0 4 % C o n g IsL’ d — l s t c o u g 5 s . /t l 9 3 1
109% . . . .
06
100
1 s t c o n s o l g o l d 4 s ............/ il 9 3 1
89** *9*3**
9 6 % 07
G e n e r a l g o l d 4 s ................... 1 9 3 8
108 110%
08
9 8~ v
F e r r y g o i d 4 % s ................... 1 9 2 2
1 1 0 % 110%
97
01
G o ld 4 s ..................................... 1 9 3 2
9 8 % 101%
U4% 96
U u itle d g o ld 4 s ................... 1 9 4 9
D e b e n t u r e g o l d 5 s ..............11(34
i U l S C E l jl i A N E G U S *
G a s u u d E l e c t r ic R ig h t
A t la n t a G H C o l s t g 6 3 . . . 1 9 4 7
B k iy n U G a s 1 s t c o n g 5 s . 1 0 4 6
B u ila lo G a s l s t g 5 a .............1 9 4 7
C o lu m b u s G a s 1 s t g 6 s ___ 1 93 2
D e t r o i t c i t y G a s g 6 s ...........1 9 2 3
D e t G a s C o c o n l s t g 6 8 . . .1 9 1 b
E q G H N Y l s t c o u g 6 s ..l9 3 2
H a s * E l e c B e r g C o c g 5 8 .1 0 4 9
U r R a p G H C o 1 s t g 6 s . . .1 9 1 0
H u d son C o G as 1st g 6 s .. 1949
K a n C it y ( M o ) G a s l s t g 6 s 1 9 2 2
K in g s C o E l R & P g 6 s . . . 1037
P u r c h a s e m o n e y Os.......... 1 0 9 7
E d E l 11 B k n 1 s t c o n g 4 s 1 0 3 9
Lao G as H o f S t R l s t g 6 s . e l 9 l 0
R e f a n d e x t 1 s t g 5 s .........1 9 3 4
[ilw a n k e e G a s l, 1 s t 4 s . .1 0 2 7
e w a r k C o n G as g o s . . . . 1948
108
86
87%
101% 107
125% D e o ’ 10
126% .
9u%
58%
101
8 6 % O c t ’ 10
102
S e p ’ 10
107 % D e e ’02
9 3 % .........
9 3 % ........
95
S a le
90
93
90
100%
92 % 93%
106 % .........
Range
Since
January 1
06
95
98
107
110%
106% 112
12 102
98
H 2%
15
35
102% 106%
07% 77%
04
05
06
73%
73%
63
G ot '0 0
101
07%
71%
102
74
09% 103
98
98
N o v ’ 10
109%
109%
1 0 0 % A la r '1 0
100
M a r ’ 10
108% 112%
100% 107%
108% 112
107%
105
94%
113%
100%
108
03%
107
D o o ’ lo
D e c TO
N o v ’ 10
G e t ’ 09
N o v ’ OO
M a r ’ 10
105% 108%
105 106
04% 98
112% 115%
1 0 1 % F o b ’ 10
1 0 1 % S up ’ 00
101 “s 101%
110
D e o ’ 10
110
112%
05%
97%
99 %
95
104%
96%
D e c ’ lo
G et ’ 06
D e c ’ 10
u e o ’ Ob
03
07
9 7%
100%
03 %
96
*9*3*% *05**
B O N D s i— C o n t i n u e d o u N e x t l * a g o .
G a s a n d E le c t r ic L ig h t
N X G E H H & P g 5 s . . . 1948
P u r c h a s e m o n e y g 4 s . ..1 9 4 9
E d E l 111 1 s t c o n s g 6 3 . .1 0 9 5
N Y * y E lH * P ls t c o n g o s l9 3 0
.... 106 i o i % N X * R i c h G a s 1 s t g o s .1 9 2 1
P a c l f lo G * E l e o C o C a l G * E
C o r p u n i f y i n g & r o f 5 s lu 3 7
.... ibi%io5%
P e o u a s * u 1 s t c o n g 6 s . 1 94 3
R e f u n d in g g o l d 6 s ............194 7
I 0 1 % i0 3 %
C h G - H * C k e l s t g n g o s 1937
C o n G C o o f Oil 1 s t g u g 5 s . ’ 3 6
07
07
I n d N a t G a s * OU 3 0 -y r 5 s '3 6
17 100 102
M n F u e l G a s 1 s t g u g o s .1 0 4 7
110% 116
86% 00 P h ila d e lp h ia C o c o n v 5 s . .1 9 1 9
S y r a c u s e L i g h t i n g 1 s t g 6 s . ’ 51
100% 105
09 101 % T r e n t o n G * E l 1 s t g o s . . 1 0 4 9
***i 89% 92% U n io n E le o R * P l s t g 6 s . 1 03 2
W e s t c h e s t e r R i g h t ’ g g 5 s .lU 5 0
10 105 l0 7 %
60% 67
J -D
F -A
J -J
F -A
M-N
.M-N
A -G
M-S
J -J
J -D
M-N
M-N
F -A
J -D
M -b
MS
J -O
10 2%
1 0 2 % Sah. 1 0 2
86%
87%
8 7 % 6 a le
1 1 1 % .......... 1 1 0 % O c t TO
1 0 0 %; M a r’ 10
51
71
0 7 % J ' l y ’ O9
92
02%
1 1 6 % }A T ,
10 0 %
10 2%
92
92
0 9 % 103%
80
87%
110
111%
10 0 % 1 0 1 %
S
91
116%
101
102 %
100%
90
101
90
98
ill!
116 % A u g ’ 1 0
10 1%
>0 1 % ’ *2*1'
i o 2 % D e o ’ io
100% 108
LO 1
90
90
io o
1 0 0 % 101
101% 105
10 0
.......... 9 8
08
110
i*o*6*%
93
1 0 2 % 104
103 %
N o v ’ 10
N o v '1 0
M a i’ lo
D o c ’ 10
A ug’l 0
M uy’ Oo
O c t *10
D e o ’ 10
....
93
LOO
93
110
104
104 %
102
90
10 1
105
100
93
104
* N o p r l c o F’rly
id a yk; D
l aut eo s A
t u
bg
id agnD
d uaes kDe edot h is
s Owpeteiokn, Saa leD u e J a n
6 D u e Feb
d
Dec. 31 1910.1
New York Bond Record—Continued—Page 3
UOiNDS
N . Y . ST O C K E X O H A NO K
W eek Kndtni. d u o 30
Wee Us
R ange or
Last s a te
Price
Dec JO
00
R ange
S ince
J a n u a ry 1
1755
-*3
RO D S
N . Y. S T O C K E X C H A N G E
W eek E ndlno d e o 30
k
P rice
frid a y
Dec 30
W eek’ s
R ange or
Last Sale
StsM
o -g
Range
Since
J a n u a ry 1
Uia
A so Lew
H igh N o Low H igh N Y C en t A I I K—(C o n ;
L o n g Isla n d —(C on )
H igh A'o L ow H ig h
ASK L o u
1 94*4 100
9 0 *s 9 0 7, 90
90
G uar rot gold 4 s . . . .......... 1940 M-S
M ich C e n t coU g 8 S2S ....1 9 9 8 F-A
79*2 79 D e o ’ lO . . . . 78
82*4
B klyn
M on t 1st g f i s . . 1911 M-S
R e g is te re d ....................... 1998 F A
8 0 *4 D e c ’ 10 . . . .
70*8 80*a
101 s8 D e c ’Ob
1 st o s ................................. 1911 M-S
Beech C reek l 8 t g u g 4 » . 1 9 3 0 J -J
OS*, .
OS3, D e c ’ 1 0 . . . . 97
98*4
K V lUli M B 1 stc o n g 5s 193b A-O 103 .........
R e g is te r e d .......................1930 J -J
1
*8*2
98
*
4
N
ov ’ 1 o ....'I 98*4 98*a
N Y & 11 B 1 st g 6s ........1927 M-S 101 *4......... 105 A p r ’ 07
2d g u gold 5 s ................. 1930 J -J 106*4 .
101 *, Sale 101*4 101*4 10 101% 104
N o rS li B 1st con g g u o s ol9 3 2 q -J
B e e ch C r E x t 1st !j 3 *8661951 A-O
8C*a .
1 96*4 90
95*4
L o u is ia n a * A rk 1st g 5s. 1927 M-S
94
95 *% 96*,
Cart A A d 1st gu g 4 s . ..198 1 J O
97 *4A p r ’ 09
.
.
.
.
1
1
4
78
1
15
*4
J-l
L ou ls v * N asliv gen g Os. 1930
116 D e o ’ lC
112 % 116*4
G ou v A Os w o 1st gu g 5s 1942 J-D
6 111*4 114
Gold o s ..................................1937 M-N 110 ......... l 1 l *4 i ll * - .
Moll A M ai 1st g u g 4 s . . 1991 M-S
97
99*a 9 8 7# J ’n e ’ 10
98 7s 9 9 7s
98 % Sale
U nified gold 4 s ................. 1940 J . ,
98*4
98*4 123 90% 100%
N J J u n o ft gu 1st 4 s ...1 9 8 0 F-A
93 100
105 c o t '02
R e g is te re d ....................... 1940 J -«
97-Ai N o v ’ l t •. . . 07*4 97*4
N ¥ A H arlem g 3 Sjs. . . 200O M-N
93 A u g ’ 10
93
93*4
..................... 1 0 0 '-j D e c ’01 . . . .
Sink fu n d gold Os.............. 1910 A -(
N Y A N o rth 1st g 5 s . . .1927 A-O
108 O c t '09
108 ......... 107 *4S o p ’ ll . . . . 107 110
Coll tru st gold 5 s.............. 1931 u -r
07*4 08*-. 9 5 7s N o v ’ 10
N Y A P u l s t c o n g u g 4 s 1993 A-O
*9*5% 98*9
115 o o t ’ It . . . . 111% 115
K 11 * N ash 1st e O s....1 9 1 9 J-C I ll ) 113
N o r A M o n t l s t g u g 68.1910 A O
101*4 100 104% D e c ’ ll . . . . 103 100
LCln<& L e x g o ld 4 % 8 ...1 9 3 1 M-r
131 *4 Jan ’09
Pino C reek re g gu ar Os. 1932 J-D
N O & M 1st gold O s . . .. 1930 j . j 122 Hi......... 12 13b N o v ’ 10 . . . . 121% 125%
lo < * s D e o T 0 . . . . 1 0 7
R W A O con l s t e x t 5s. A1922 A-O 107.....110
110
N O A M 2d gold Os........1930 j - j 117*4......... 118*4 Nov ’ It . . . . 118*4 118*4
106 J a n ’ 08
O sw e A R 2d g u g 5 s ...« 1 9 1 5 F-A ......... 102
100 109 105 *4N o v ’ lO . . . . 105% 110 %
P en sa cola D iv gold Os. ..1 9 2 0 M-l
R W A O T R 1st g u g 6s. 1918 M-N 108 ........ 104 J 'u e ’ iO V." ioi*" iai”
.
.
.
.
113
.........
113
Sop
TC
M-b
113 114
8t L D iv 1st gold Os.........1921
95 ........ 102 *s F e b TO . . . . 101 7, 102*8
R u tland 1st c o n g 4 Sjs. , 1941 J -J
7 1 % ......... 71 ALiy’OSi
2d gold 3 s .........................1980 M- h
84 O ct TO
8 2 * a .......
, 80*, 91*4
O gA L C h a m 1st g u 4s g l9 4 8 J-J
91
92*4 93% Sop TO . . . . 91
95*4
A tl K n o x & Cln d iv 4 s . . 1955 M-N
92 J 'n e ’ oy
Ru t-C anad 1 st gii g 4 s .1949 J -J
.
.
.
.
112
D
e
o
’
It
112*4
115
110 112
A t! K n o x * N o r 1st g 581940 J -0
St L a w A A illr l s t g o s . 1990 J -J 108 110
115 J ’ ne’ 09
H e a d e r B d g e l s t s f gO s.193 1 M-S 108 ......... 110 J a n ’09
2d gold Os.........................1990 A-O
125 F e b ’ 08
1 *04 b flfl
94
94
94*4 04
K e n tu ck y C en t gold 4 s .. 1987 j - j
U tica A BUc R l v g u g 4 s .l 9 2 2 J -J 100 . .
100 N o v ’ *0 . . . . 100 102
L A N * M & M l e t g 4 %s 1945 M-S 1 02 *4......... 103 D e o ’ 10 . . . . 102 105*4
L a k e S h ore g o ld 3 *28....1 9 9 7 J-D
89*, 90*4 90*4 D e o ’ l o . . . . , 89*4 92 4
11 88*4 92
88*4 89*4 h8*4
83*i
R e g is te r e d ................... * y y 7 J-D
L & N -S outli M join t 4 s . 1962 J-J
88*4 8 9 *a 88*a D eo TO . . . . I 88 92
N i ’l a * S l s t g u g 5 s . ..1 9 3 7 F-A 107*4 112*4 112 *4N o v ’ lO . . . . 100% 112 %
D eben tu re g 4 s ............. 1928 Al-S
93 *s Sals
93*4
93*4 38 92
95»,
» b * 4 .........
25 -year g 4 s ................... 1931 IVl-N
N & C B d g o g e n g u g 4 % « 1945 J - J
93*8 Sale
93*4
93*4 177 92
95*4
P en s A A tl 1st g u g Os..1921 F-A HO >4......... 1 10*4 O ct 'i d . ... i a i% i i d *4
K a A A G R 1 st g u c S s . 1938 «J -J
- 110*4........
lO O T lll
S A N A la con gu g 6s .. 1930 F-A 110*4 114 110 N o v ’ 10
M ahon C’l H R 1st 5 s . . 1934 J -J 110 ........ 109 OCt ’ 07
92 ......... 94 O ct TO —
88*4 94
L A Jelt B d g e C o g u g 4 s .. l 9 4 6 M-S
Pitts A L E rie 2d g 5 s .a l9 2 « !A -0 100 ........ 100 D e o ’ 09
L N A A C h See C I A L
P itts M o K A Y 1st gu O s.1932 J -J
122*4...... 130*4 Jan ’ 09
j\/1 alion Coal See L S A M S
2d g u a r 6s .........................1934 J - J 120 ........
2
98
ItXauliattan Uy con so l 4s. 1990 A-O •97*%......... 97*4
03% 98%
M c K e e s A B V Is tg U a 1918 J -J 107 ........
R e g is te r e d ................... 1990 a - c;
M ich C en t 6s .......................1931 M-S 109*4 113 110*4 O ct T o . . . 110 ‘s 110 **
98 % *20 94% 90%
Stm pd ta x e x e m p t.. 1990 A-O ......... 99*8 98%
R e g is te r e d ................... 1931 O-M 108 *#......... 119
ue’ 00
M oK ’ p t A B V See N Y Cent
97 100
99 D e c ’ 10
4 * .........................................1940 J -J I
» £ ” ‘ 9 9 **
99*8 100
99*4
99% 10 96*4 99%
M ex C en t con s g 4 s ........... 1911 J - J
R e g is te re d ................... 1940 J -J 1 93*4...... . 98 D e c ’OO
.
.
.
.
3
i
7
8
M
ay’
Ll
27*4 31%
1st con s ino g 3 s ......... a.1939 J’ ly
J L A B 1st g 3*28........ 1961 Sl-S
90 J ’ ne 08
25 *4A p r ’ 09
2d oon s ino g 3s tru s t r e c t s ..
1 st g 3 *2S ........................ 195a M-N 83
88*4 80 D e o ’ lO . . . 80
90
70 ......... 77 M ar’ 10 . . . . *75
*77*
M ox In term it 1st con g 4s. 1977 •M-S
91*4 92*4 91*4
20-year deb 4 s ................1929 A-O
92
07 89
92*8
79 N o v ’ 10 . . . . 79
79
Stam ped g u a ra n tee d ___ 1977 M-S
B at
A S tu r I s t g u g 3 s . l 9 8 9 J -D
100 M ay’ 10 . . . . 100 100
M ex N orth 1st gold Os___ 1910 J -D
N Y C lue A St L 1st g 4s 1937 A-O
99*4 100
00»s 9906 4 97*4100*4
R e g is te r e d .......................1937 A-O
M loli C en t See N 1' C en t
9 8 * s ------ 100 D e o ’ 09
M id o f N J See E rie
D eben tu res 4 s ............... 1931 M-N ......... 91*a 91 *a O ct TO
90
92
MU L S A W s e e C h ic A N W
W e s t S hore 1st 4s g u ...2 3 0 1 J-J 101 101*8 101
101*4
99*4 102*4
MU A N ortli See Cli M A St P
R e g is te r e d ...................... -2301 J -J 100*4 . . .
10 0
D e o -1 0
90*4 100*4
131 132
M luu A St L 1st gold 7 s .. 1927 J-D 130 ......... 132 N o y ’ 10
N Y A G reen w L a ke s e e E rie
Paoltio E x 1st gold Os...1 9 2 1 A-O 101 ......... 118 J a n ’ 07
N Y A H a r See N Y C A H ud
106*4 J ’ly TO . . . . i o d % i o i
South W est E x 1st g 7 s . l 9 l o J-D
N Y L a ck A W
See D L A W
102% 109
1st o on sol gold 5 s .............. 1934 Al-N i '00 it*7*4 108 D o c TO
N Y L E A W See E rie
74 D o o ’10 . . . . 07*a 81% N Y A L o n g B r Nee C en t o f N J
1st and refu nd gold 4 s ..1 9 4 9 M-S ......... 74
.........
02
J-J
87 M ai-’IO
D os M A F t D 1st g u 4 s ... ’35
87
01*4 KT Y N 11 A H —C o n v 08.. 1948 J .J 133 *4S a le 133*a 133*4 16 130*, 135*4
i li i m A St L gu See B C R A N
C o n v d eben 3 % s.............. 1950 j . j 100*a sale 100*4 100*4 53 96*« 103*4
M St P A S S M c o n g 4 l u t g u ’38 J -J .......... 97*4 O0*4N ov ’ 1O •••• 0 6 % 1 0 0
H ou sa co m o U co n g 6 s ..1937 Al-N 112 ........ 112*4 O ct TO . . . 112*4110
J
-J
M S S M A A 1st g 4 lilt gu 1920
..................... 9 8 *4Jan T o . . . . 98% 98%
N H A D o rb y c o n c y 5S.1918 M-N 101*8......... 107 A u g ’ oU
M luu U n See S t P M A At
Y A N o rth See N Y C A H
97 % Sale
16 90*4 100
07*4
08
Mo K an A T e x 1st g 4 s . . .1 9 9 0 J-D
96
90
Y o A W ret l s t g 4 s ..p l9 9 2 Al-S
96*4
95*4 1 6 ; 95
98
82-4 83% 83*4
83%
2d g old 4 s .......................... jrrOOU F-A
1 83
87*4
101*4 J ’ u e’OU
U-S
8 100 105
1st e x t gold 6s ................... 1944 Al-N I 02 Salo 101 % 102
AI-S
78*4
79*4
79
D
c
o
’
10
1st A refu n d 4 s ................. 2004
78% 85*4
85 *V Sale
85 *4
85 % l ii 1 83*4 90*4
G en s f 4 % s..................... 1930 J -J
See E rie
79>* dale
79%
79*«
1 79% 79%
St L D iv 1st ref g 4 s . . . .2001 A-O
d See So Pao Co
101
.........
Al-N
105
J
’n
o
’
10
Dal A W a 1st g u g O s... 1940
M-N 100* , ......... 101 M ay’ 10
100 10
4 89% 93*4
89%
89*4
89*4 « 0
Kan C A Pao 1st g 4 s . ..1 9 9 0 F-A
T-- --- .. — QUU Q ............ ..
M-N 126 ......... 125 D e o ’10
123 I2i
Mo K A L 1st g u g 5 s . . .1942 A-O 109 113*4 111 D e o ’ 10 . . . J 100 H 3
Iin p ro v o m t A e x t g Os..1 9 3 4 F- a 124 128 120 i l a i T o
124*8 121
107
%
107*1;
iVI-N
107%
u
e
o
’
10
.
.
.
.
M K A Ok le t g u 5 s........1942
103 108 *s
N o w R iv e r 1st g Os........1932 A-O
122*8 125 123 M ay TO
123 12<
M K A T ot T 1 st g u g 6s . 1942 At-8 lO J 1* 103 104 D e o ’10
1 0 0 ‘s 105 Sj
N A W U y 1st con g 4s. 1990 A-O
9 9 ° , Sale
99
99 >s
90*4 101
Slier BU A So 1st gu g 6s . 1943 J -D 104 109 110 *4A p r ’ 09
R e g is te r e d .......................l y y y A-O
97 A p r ’ 10
97
9’
105 Si D eo TO ..'1 0 3
T e x * O k l a l s t g u g o s . .. l 9 4 3 Al-S 104 109
108
92*,' ” 93*4 93*8 D e o ’ lo
D i v T l 8t l A g e n g 4s . . . l 944 J - J
I 91
9;
io 9
16 107 111
Mo Paoltio 1st con gO s ...1 9 2 0 ALIM 108% 109% 109
100*4 >aib IUO*# 101*,
10-25 y ear c o n v 4 s ___ 1932 J-D
94*4 101
101% 101%
100 102*4
T r u s t gold 5s s ta m p e d .a l9 1 7 Al-S 101 101
l ’ ocah C A C J o in t 4 s ..I 9 4 1 'J - D
88*4 88 _
88*4 90
30 *4 91
99 M arTO
Ob3# 9U38
R e g is t e r e d ................... a l9 1 7 Al-S
104 ......... 105 N o v ’ lO
C C A T 1st g u g 6s ......... 1922 J -J
104*4 101
1st coll gold 5 s ................... 1920 F-A
101*4 D e o ’ l o
100 102%
90
90*4 96*4
00*4
S olo V A N E 1st g u g 4s 1989 M-N
94
91
70
Bale
21 75
75 \
70
40-year gold loan 4 s........1945 M-S
8 1 7# N o rth Illin o is See Chi A N W
....... 98 % 96*4 N o v ’OS
3d 7s e x td at 4 % ................1938 Al-N
N o rth O hio A 'e e L E r l o A W
9 1 *g Sale
91*4 91%
1st A r e f c o n v 5 s .............1959 M 8
89
00
N o r P a o—P r io r lien g 4 s . . 1997 Q J 100*4 Sale 100*8 101
81 99 102*,
92 ........
92
92
A
C ent B r lty 1st g u g 4S.1919
01 % 96
R e g is te r e d .......................1937 q . j
09 100*4 99
99
30 98*4 101
85 ........
87 Si M ay TO
Uou B ran ch U P l s t g 4 s . l 0 4 b J-D
80
87*2
70*, 70% 70*4
71
G eneral lien gold 3 s ___ a2047 %-F
13 09 *4 74
110
M
ar’Oo
J
L eroy A C V A L 1st g Os 1920
R e g is t e r e d ................... a2047 q - F .......... 71
70 D e o ’ 10 . . . . 0J
72*4
Pao R of M o 1st o x g 48.1938 F-A ......... 98*11 90*4 O ct T o
"o'd'4 i b o 3#
S t P a u l.D u i DlV g 48....1990 J -O
00 . . . .
9 0 % N o v lO . . . . 96*4 97*4
109 liO
110 D e c ’ 10
110 H 3
2d ex ten d ed gold 5 s ...1 9 3 s J .J
D ili S h ort L 1st g u o s .. 1910 U -S
99 F e b TO . . . . 99
99
100
Si
100
%
A-O
S t L I r M A S g e n co u g 5 s l9 3 1
lOOSi 100% 27 105 Sj 110
O B A <4co il tr 4s See u t N or,
Sop ’ 09
G en co n stum p g t d g 6s 1931 A-O * 1 0 0 % ......... I l l
S t P A N 1’ g e n g Os___ 1923 F-A 116*8......... 116 D e o 10 . . . . 116*8 118*4
83 83*4 837, 84 , i 81
U n ified A ref gold 4 s ..1929 J -J
80
R e g is te re d c e r u iic ’a ..l 9 2 3 O-F ......... 110
1 1 / P 'e b ’ 10 . . . 117 117
85
Sale
M-N
ltlv A G D iv 1st g 4 s ..1933
84
85
20 82% 8734
S t P aul A D a l 1st 6s . . ” l 93i F -A 108 * , ......... l l o
J ’n e ’ l o . . . 110 n o
V erd i V 1 A W 1st g o s . 1920 .vl-S
102 Sj J a n T O ! . .. . ’ 102 Sj 102*a
103 O ot TO . . . 103 103*%
................................. 1917 A-O 101 103
M obJ A K C l s t c o u s g 6s . l 953 J-J
98 D e c ’ OO . . . . '
1 st c o n s o l g o ld 4 s ......... 1908 J-D 02
06*4 90*4 A p r ’ i o . .. . 90*4 97*4
119*8
121
M ob A O hio now gold Os..1927 J-D
11U D e o ’ 1 0 . . . . 116 121*2
W a sh c e n t 1st g 4 s ......... 1948
01 .......... 92*, N o v ’ lU . . . 92*4 92*4
116% 117 H o * , 116 *«
1st e x ten sion gold 0 s ../il9 2 7
2 114*#117 % N o r Pao T e r Co 1st g O a.,1933
111*4......... l l l * a D e o ’10
110*4 111*8
83 Sj 90
84
81 I 1' 84
G en eral gold 4 s .................193b
00
N o r R y Cal See So P a c
M ou tgom D iv 1st g 6 s ..1947 F-A l u 0% ....... 109 % N o v ’ 10 . . J 107 109Sj N o r W is See O S t P M A O
75 Alay’08!
8t L A Cairo ooU g 4 s ..e l9 3 0 o - F
N o r A M o n t See N Y Cent
94*, 94 N o v ’ lO
G uaranteed g 4 s............1931
04
90
in u A W See O C O A s t L
M A O coU 4s See Southern
iuo R iv R R See Bait A O
M ohaw k A M ai S e e N 1' C A 11
O re A Cal See So Pao Co
M onongah ela R lv See B A G
O ro S h ort L in e Sea Un Pao
M ont C en t See S t P M A M
O sw ogo A H om e See N Y C
M organ ’ s L a A T See S P Co
p a o Coast Co 1st g 6 s . ...1 9 4 0 J -D 105 ......... 104*4 D e o ’ 10
102*4 108Ts
M orris A E ssex See D el L A W
X a c o f M isso u ri See M o Pao
\1 ash Chat A S t L 1st 78.1913 J -J lOO®# 107 100% 100%
106«* HO*# P en n R R 1st real e s t g 4 s .l 9 2 3 M-N ......... 103
102 Aog’10
10 2
10 3 *4
l x 1st con sol gold 6s ..........1928 A-O 110 Sale 110
H O I 6 108S j IIOS j
C on sol g o ld 6s ................... 19x 9 U-S ......... 110
109*4 Jan ’09 "
116’ , H 57,
J asp er B r a n d i 1st g Os..1923 J-J l I6 * s ......... 1 1 6 7, N o v ’ 10 ,
C on sol gold 4 s ................... 1943 M-N 103*4.......... 103*8 103°8 "Ti 102*4 It
M o il M W A A t 1st Os..1917 J-J 100*a......... T 0 8 Sj 108*s
1 108 Sj 10 s %
C o n v e rtib le g 3 *as............ 1912 Al-N
99 99*4 99
99*8 9 9 7 7i U
T A P B ru n ch 1st Os. ...1 9 1 7 J -J 100 Sj ......... 113 J ’l y ’ 04
C o n v e rtib le g 314s ............HU6 J -D
90t, s a l, 90*8 90*4213 94 7s t
N ash F lor A Slief See L A N
C on sol gold 4 s ................. 1948 M -N 102 *, 103*4 105*4 D e o TO
101*4 It
N a t R y s o f M o x p r 14 >-.8 1967 1 -J
9 4 s# 04*4 94*|
93S j 95*4
94S j
A U og V ai ge n g u g 4 s . ..1 9 4 2 iVI-S ......... 100*4 100 Oot T O '"* 100 K
G uar g e n 4 s ........................1977 A -O
88
87*4 00
88
87*a 92*,
D R it R A B g e l s t gu 4 s g . ’3U F-A
9 4 * 4 .......
N at ot M ex prior Uon 4 ‘as. 1920 j . j 100*4 101
100*4 N ot ’ 10 . . . . 100*4 102*4
P h ila B a l A W 1st g 4 s ..1 9 4 3 Al-N 101*4......... 101*4 D eo TO '*** 101*% 101*4
1st co n s o l 4 s . . . . , ..............1951 a - o
86
83
33*6 84*a D e o ’ 10 . . . . 82
Sod B a y A So 1st g 6 s . . .1924 J - J 100 .......... 102 J a n ’0 3 " *
N ew 11 A D See N X N 11A 41
U N J R R A Can geu 4 s .1944 M -8
103*8 Alay'10 '*** i o i ” i o i ”
N J J u n o R R See N Y C en t
Penn Co— G uar I s t g 4 * a s .l9 2 1 J - J i o i ” 103 *6 103*8 D e o ’ 10 " " 103 100
N X B kin A M an B oh See L I
R e g is te r e d ......................1921 J - J
102 *4.......... 103*4 F e b ’ 10 ‘ „ i 0 3 \ 103*%
N Y C en t A H R i v g 3 % s .l0 0 7 J - J
89% Sale
89
89*4
24 87% 92
G u ai 3*43 c o ll trust r e g . 1937 M-S
87 ......... 90 A u g ’ 10
90
90
R e g is te re d ....................... 1997 j . j
87*4 N o r ’ lO #28 80°# 90*4
G uar 3 * o sco ll tr ser B ...1 9 4 1 F -A
88
90
89*4
89*4 ' 0 88
91%
D ebon g 4 s .........................1034 m -n
93 * , OS** 93*#
03S» 82 92
96%
T r Co o e r til’s g u g 3 *48.1910 Al-N
97
98*4 97*% D e o ’ 10 . . . . 95*, 98*4
Lake S h ore c o ll g 3 %a. . . 1008 F-A
80*, bale 180*# 80*4 4 7 : 79>a 82%
O
G u 3*48 tr c tfsi C
O ................1942 -J -—•
87*4 « a% 87 A u g ’ 10
87 90
R e g is te r e d ...................... 109b1F.A
78*»S a le
178*, 78S j 8 : 78
80S)
G u 3 %str c t fs D ............... 1944 J -D
......... 00*4 91 D e o ’ 0 9 . . . .
0
ti
O
1U I S C M 1L 1 N K O U 8
C o a l a n d Iron
B u ll A B u sq I r o n a 1 5 s . . . . 1 9 3 2 J-D
D eb en tu re 5 s ................ a 1920 AI-S
O01 i) A 1 Co g en a f g 6 s ..1943 F -A
C on v ertib le deb g O s ....1 9 1 1 F A
S
o l l n d u 1 s t A c o l l 6 s g u . , 1 9 3 4 F -A
o n t in ’ Uil C l s t s I g u 6 s g . 195*2 F-A
G r R i v C o a l A C 1 s t g 6 s . . 1 91 9 A-O
J e f f A C le a r O A 1 1 s t g 6 8 .1 9 2 0 J-D
K a n A H C A O 1 s t s f g 5 8 .1 9 6 1 J - J
JPooah C o n C o llie r l s t s f 6 s .’ 57 J -J
S u n d a y C r o o k C o g 6 s . . . . 1 9 4 4 J .J
T e n n C o a l g e n Os............. 1961
J -J
l 'e n n D i v l e t g 6 s ........« 1 9 1 7 A-O
B lr m D i v 1 s t c o n s o l Os. .1 9 1 7 J -J
O a h C 31 C o 1 s t g u g 0 8 .1 9 2 2 J -D
1 D o B a r O A 1 C o g u g 6 s . 1 9 1 0 F-A
V l o t o r F u e l 1 s t s t 6 s .......... 1 9 5 3 J -J
V a l r o n C o a l A C o l s t g 5 s . 1 9 4 9 M -S
90 *4 93
OOTlOO
75*4 78
90 1
97*4
76*4
77»,
107 l
99
105*a I
*86** 83 J
73 F o b ’ 07
104
S a le 103*4 104
106
S a lt 1U6
106
104*4 100
1047s D e o ’10
lu 7
.......... 110 J a n ’09
100 Jan TO
87
94 % 90
96
A u g ’ 09
D o o ’10
6 D u s Feb
90
UO
93
70
Oj
101
99*4
82%
76% 77% 70
70
2 72
103%
103 102% 102
9 100
07% 98
9 6 % D e o ’ 10
93%
96% Sale
95%
95% 11 92
86 00% 05 D e o ’ lO
06
A m S p i r i t s M f g 1 s t g0s. .1 9 1 5
20 98
97 D e o ’10
94
A m T h r e a d 1 s t o o l t r 4 s . .1919
02% 03
92% D e o ’ 10
89
A m T o b a c c o 4 0 -y r g 0 s . . . .1 9 4 4
105 % sale 104% 105% 109 104%
83
83
4 s . ............................................
80 Sals
80
80% 106 70%
80% s a i.
d o t h S t e e l 1 s t e x t s f 6 s . . 192 0
80%
80% 94 83%
4 8 102
104%
99% Sale
-‘o u t L e a t h e r 2 0 -y e a r g 6 8 .1 9 2 6
99%
99% 77 97
8 103 107
C o n s a l T o b a o c o g 4 s ............ 1 9 5 1
79% 80% 80 N o t ’ 10
70%
10 3 % 1 0 7
C o r n P r o d R e f s f g 6 a ___ 1 9 3 1
97
97% 97%
97%
1 93
96% S al,
1 s t 2 5 -y e a r s f 6 s .................1934
96
96%
8 93%
100 100
_ n b a n -A m c r S u g a r o o ll t r 6s T 8 *.0 ......... 90
96 D eo TO
95
D is t i l s e e C o r c o n v 1 s t g 6 s . ’ 27 A-O
77% S a l,
77
77 •«
07
.... 0*4*4 i o o ” E 1 d u P o n t P o w d e r 4 % a . . l 9 3 0 J-D
82
86
83 D e o ’ 10 . .. 1 M
s J D a eM la y p D u a J ’ m* \ B u e J’lj JeOuo A u g 0 D o e O c t p B u e N o t { D a s D m
( 71gt<
li
00
• N o p r i c e F r ld a y j la t e s t b id a n d a s k e d . a D a s J a n
...
....
80
B O N D S — C o n tin u e d o n N e x t P a g e
....
1C
-j
A-O
ll-F
M-S
A-O
11-3
J-J
A-O
F-A
J -J
A-O
F-A
M-N
M-N
j
84
108
98
102
73
ioi
98
109
861
89
102
83
97
90
97
78
«
BONDS
N. Y. ST O C K E X C H A N G E
W eek E ndino D eo 80
1
P rice
pviilay
P e c 30
1
W eek’ s
| R ange or
1 Last Sale
I l l
aSince
s ?
1J a n u a ry 1
A Sli Low
Rio
S ign Jio Low High.
P e n n s y lv a n ia C o—( t o n )
98 V « 3 34 98 hi D o o ’ 10
...........
G uar 15-26 year g 4 s -----1931 A O
94
hi 99
•1an ’05
Cl & M ar 1st gu g 4 V s ..1 9 3 5 M-N loov .........110
......... 1 10®4 Juu M9
Cl A l ’ geu gu g 4 *28ser A . ’ 43 J - J 100
S eries B . . . .......................1942 A-O 100
......... 109 V J ’ l y ’ OO
90 H
90 A u g ’ O'J
S eries C 3 V s ................. .1 9 4 8 M-N
91 hi 95
S eries D 3 V s ................... 1950 F-A
90 M ay’08
90
93
E r i e * P i t t s g u g 3 V s B .194 0 J j
92V N o v 1u
91
92V
93
90
S e n e s C ............................ 1940 J -J
98 A p i ’ 04'
G r K A l ex 1st g u g i V s 1941 J -J 104 106 V 104 hi O ct ’ 09
104 V 106
P itts Ft W A O 1 s t 7 s . ..1 9 1 2 J - J 104 ......... 104 hi D e e ’ 10
104 ......... 104 l4 NovMO
104*4 i 0 5 7e
2d 7 s ...................................1912 J -J
o c t ’ 08'
30 7 s ............................... A1912 A-O 10334 ......... 107
M ay’ 10 . . . 109 109
P itts Y A Ash 1st con 58.1927 M-N 107 ......... 109
107 | 14 107 107V
P C C & St E g n 4 Vs A . . .1 9 4 0 A-O 107
1 0 7 ‘4 107
O ct ’ 10 . . . 103 hi 10734
S eries B g u a r.........................1942 A-O
107E 10/
106*4 31 106 hi 106 hi
S eries C gu a r................1942 M-N i o o v salt luOV
98 °* D e c ' .0 . . . 97*4 9 8 34
S eries D 4 s g u a r ...........1945 M-N
9i>V
9 1 hi
2 90*4 91
00V 93
91 hi
S eries E 3 V guar g __ 1949 F-A
S eries F 4s g u a r ........ 1963 J - D
111*2 112 V
C St E A P 1st con g o s.1 9 3 2 A -O 113 116
P e n s a c o la * A tl See E A Nasiil
Peo A E ast See C C C * St E
112 112
107<*b ......... 112
Peo * P ek Uu 1st g Os___ 1921 Q-F
96 O ot ’ 10
93 hi 96
00*2 95
2u gold 4 V s ..................... 51921 M-N
70
67
P e r e M a r q u e tte —lie£ 4 s .. 1955 J - J ......... 69
----------- 3
100 102 V
Cll A VV M o s ....................1921 J -D 100'# l O l 1#
110 ......... 108h iS e p ’ lo . . . . 108hi 112*4
F lin t * P Al g 9 s ...............1920 A-O
io l
101 101
1st con sol gold d s ..........1039 M-N 101 103 101
lo 3
102 D e o ’ 10
101 100
P t H uron D iv 1st g 6s . 1939 A-O
S a g T u s A H l s t g u g 4 s . 1931 F-A
Phil B * W See P en n K B
90
88
89
89*9 J ’ l y ’ 10 . .. J 88
P h ilip p in e B y 1st 30-yr s 14s’ 37 J - J
P itts Gin So St E See P eu u Co
Pitts C love & T o l See B & O
P itts Ft VV A CU See P en n Co
P u ts M oK ees & Y S e e ii Y Cen
112 i* N o v ’10 . . . . 112 112 >#
Pitts Sli A E E 1st g 6 8 ...1 9 4 0 A-O n « v
93-g J l y ’ 97
1st con sol gold Os..............1943 J - J
P itts * W est See B A G
98 Sale
I )e n d in g Co g e u g 4 s........ 1997 J -J
07V
08 n o 07 100
......... 9.1 *4 98 N o v ’ 10 . . . J 03
08*4
AV R e g is te re d ....................... 1997 J -J
15 95
08*4
J e r s e y C en t c oll g 4 s . . . 1961 A O ......... 97 hi 07 V
33
B ensseiaer A Sar See B A H
loli A D an See South B y
lch A A leck See Sou th ern
B io G r W est See D en A B io Gr
Booh A P itts See B B A P
Borne W at A O g See N Y Cent
B u tland See N Y c e n t
P a g Tu a A 11 See P ere M arq
67
88 87 D o o ’ 10 . . . . 87
94
O t J o A G r Isl 1st g 4 s ...1 9 4 7
St E A C airo See Alol> A Ohio
8t E A Ir o n A louut See At P
St E M B r See T B U A of a t E
St E ou is A S F — G eu g O s.1931 J - J 118*1,1201* 120 Apr* 10
120 124
1073* salt 107*« lo T
G en eral g old 5 s .................1931 J -J
7 106 10834
90
9034 39*4 D e o ’
St E A S B’ B B eons g 4 s .. ’ 90 J - J
89*4 0 l 7»
00
8 6 7» Sale
34 84
86*4
81
G en 16-20 yr os ..........1927 M-N
. . . . 99 1U0V
99 h»......... 99*4 O ct '
S ou th w D iv 1st g 5 s ..1947 A -O
80 V s a lt
80*4
60*4 20 78ha 85
R e fu n d in g g 4 s ............ 1951 J -J
3 114 117V
K C F t S A Al C on g O s.. 1928 Nl-N 11 «»* Salt 110 ** 1
4 76
82 V
7 6 hi 77j4 77hi
K 0 F t S A Al B v ref g 4s 1930 A-O
K C A M K A B 1 st g u 5s. 1929 A-O 100 ......... 100*4 D e
15 06V 08°*
0 7 3* 98
97hj
O z ’ rk A Oh U la t g u O s g .1 9 1 3 A -O
C E ou is So See Illin o is C ent
4 88
03 V
89>a 90
89hj
t E S W 1st g 4s bd otfs .1 9 8 9 M-N
79
8b
82 hi De _ . . . . . 79
82 V
2d g 4s in o bond o t f s . .. p l 9 8 9 J - J
75 Sale
74
75*4 22 72*a 79 •»
C on sol gold 4s..................1932 J-D
96> *......... 101 *« A p r ’ 07
G ra y ’ s P tX 'er 1st g u g 6s 1947 J-D
St P a u l A D ul See H o t Pacltio
S t P M in n A M an N s e G t N o r
b t P A N o r Pao See X o r Pao
St P A S 'x C ity See C St P M A O
86*4 Sol* 88
86*4
8 A A A P a s s l s t g u g 4 s . . . l 9 4 3 J-J
8 3 V 88*«
8 B’ A IN P 1st sin k t g 5 s . 1919 J J 99 V ......... 104 Oot ’ 09 8
Sav F A W es t See A l l Coast E
Scioto Val A N E See N or A W
84 7# Sale
15 8 1 V 86V
85
84 7»
Seaboard A E g 4s stam ped ’ 50 A-O
1 09 1U0*»
100
100 100*8 100
C oll tr refu nd g 6s ....... 1911 M-N
76®» sale
67 69 V 7 8 V
77
76*9
A d ju s tm e n t 6s ...............o l9 4 9 F -A
87
84 *« 85
80
86J4
A tl-B lrm 3 0 -y r ls t g 4 s .e l9 3 3 M-S
91 .......... 02
02
Car C en t 1st con g 4 s . ..1 9 4 9 J-J
. . . . 103 103
Fla Ceil A P en 1st g 5 s . 1918 J - J 1013* .........
1013# .........
1st land g r e x t g 5s . ..1 9 3 0 J-J
i Too3* 104
C on sol gold o s ................1943 J -J 101 hi 104 104
. . . . 404 1U53*
Ga A A la B y 1st con 5 s o 1045 J - J 104 105*4
. . . . 104 104V
G a Car A N o 1st g u g 5s 1929 J - J 103 V .........
. . . . 1 UU 100
8eab A B oa 1 st 5 s ............1920 J - J 104a» .........
Sher Shr A So See Al K A X
811 Sp O ca A G See A t l Coast E
8on tn ern P a oilio Co—
011* Sale 91*4
20 80
95
G old 4s (C ent Pao co ll)./c l9 4 9 J -D
......... 92
01
. . . . 86
91 *
B e g ls t e r e d ...................AM940 J -D
07 Sale 9G7»
531 92*4 106*4
20-year c o n v 4 s ......... p l9 2 9 M -S
06*9 Sale
96 hi
96*4 13 94 V 08V
C ent Pao 1st rot g u g 4s 1949 F-A
. . . . 95 V 0 /
B e g ls te re d ....................... 1949 F-A
9 5 * 9 ......... 96*9. . . . 87 V 91
91
92*9 91 .
M o r tg n a r g o ld 3 V 3 ..A l9 2 0 J -D
94
. . . . 90
90 .
90
94
T h ro u g h S t E 1st g u 4s ’ 54 A-O
. . . . 1 0 3 7* 100
G H A S A M A P 1st 5 s .. 1931 M-N 1U07* 108*4
....
G ila V G A N l s t g u g 5 s . l 9 2 4 M-N
. . . J .....................
H ous E A W T 1st g 58.1933 M-N ibThi 106 *4
. . . . 103V 106V
1st gu a r 5s r e d ........... 1933 M-N 104 *»----2 lo u s i n u w j
1 U03* '
H A X’ C 1st g 5s in t g u .. 1937 J -J 1093* HO
C on sol g Os int g u a r ...1 9 1 2 A-O 108*9 110**
94
90
98V
. . . . 1 02
G en gold 4s in t g u a r ..19 2 1 A-O
119i* lltf**
W a c o A N W d iv 1 s t g O s ’ 30 M-N 1 1 0 S 118
A A N W 1st g u g 6 s . ...1 9 4 1 J •J 102 -----....
M org a n ’ s Ea A X’ 1st 7 s .1918 A- o 114 hi H O E
. . . . 115 115 V
1 st gold Os.......................1920 J -J 110*9--.
.... n o v n o v
N o of Cal gu ar g 5 s ..........1938 A -O
112
100 .
O re A Cal 1st gu a r g 5 s .1927 J - J 100 . ..
. . . . i b o 100
. . . . ' 102 1 U2
Bo P ao of Cal—08 E A F .1 0 1 2 A-O 102 . . .
102 .
1st gold Os.......................1912 A-O 102 . . .
114*9
116
1st con gu ar g 5s..........1937 M-N 107*4 —
S P a o o fN A lex 1 st g O s..1014 J -J 100 100*9 100 V
84
93
90 ,
So Pao Coast 1st g u 4s g . 1937 J - J
i i o i v i o 'j ’v
X e x A N O 8 a b D iv la t g 6 s .l0 1 2 M-S 10l*«102>4 1 0 1 V
102
:
101 . . .
. . . J ! .......... .........
C on gold 5s.....................1943 J - J
t
S
iU lS O E E liA N J E O U S i
J la n u ln c tiir in K & I n d u s tr ia l
G en E le c tr ic deb g 3 has.. 1042
1 0 -y r g d eb 5 s....................1917
In t P a per C o 1st c on g 68.1018
C on sol c o n v s f g 5 s....... 1035
I n t S t P u m p 1st s f 5 s . ...1 0 2 0
L a ck aw Steel 1st g 6 s . ...1 9 2 3
N a t E nam A Stpg 1st 5 s .. 1029
N Y A ir B rak e 1st c o u v 6s ’ 28
B y Steel S p g s 1st s f 5 s . .. 192 I
B ep u b I A S 1st A co ltr 5s . 1934
U n ion B a g A P 1st 81 5 s .. 193b
S ta m p e d ......................................
U S liCath Co s f d eb g 6 s ,.1 9 1 3
U S R ea lty A l c o n v d e b g 6 s '2 4
U S B ed A R e f 1st s t g 6s . 1931
tJ S R u b b e r 1 0 -y rcoll t r 6 s . ’ 18
U S Steel C orp— I cou p .t/1963
SI 10-60 y r 6s . ( r e g ..d l 9 0 3
BONDS
N. Y. S T O C K E X C H A N G E
W eek e n d in o d e o 80
F-A
J-D
F-A
J-J
.vi. S
A-O
J-D
M-N
J -J
A-O
J -J
U
P rice
P ru iag
P eo 30
W eek’ s
R ange or
Last Sale
III
W
X’e le g r u p li a n d X’c le p lio n o
A m T e le p A T e l ce ll tr 4s 1029 J - J
C o n v e rtib le 4 s .................. 1936 M- S
M ic h State T e le p 1st 5s . . 1924 F-A
N Y T e le p 1st A g e n s f 4 V s .’ 39 M-N
Puc T e l A T e l 1st 6s ......... 1037 J - J
W est U nion co l tr cu r 5 s . 1038' J-J
Fd an d real esc g 4 has... 1050 M-N
C on v 4s, S eries A ...........1036'AJ-N
R ange
Since
J an u ary 1
Rio
ash'. Low
H ig h A’o Low h i g h
94 »8 s a le 1 04**8
04V 108; 03*4 9 5 7*
107*8 sale -----107*V, 107 hi 20 103>e 111 3*
110 M ay’ 09
75 V sale
75*o
75 V i V i j'Y ii'" ‘ 8l’ 7i
84
90
83 s*
84 ha 10! 83 ha 90 ha
108ha 110 l o g S e p * io . . . . 1-106 110
80
87 , 85 D eo *10 ....'I 80>o 87
U>7 ......... 1077# N ov ’ 10 . . . . ' 107 's 107 7*
90
00 hi 03 N o v ’ 10 . . . . . 89*4 93*1,
82*4 82V 82 h, O ct ’ 10 ....I 8 2 ha 8 2 ha
1U0 v
106 V N o v ’ 10 — 1106*2 100 ha
10/ hi 10 J n o F e b ’ l o . . . . 106 110
109 V 10 109 114ha
109 V n u v 100V
104V 106 V 104"o N o v ’ 10 ....1 1 0 4 V 106
6/
Uo N o v ’00
i t 2"
1)3
1 1 3 ‘g " 4 i i T * ; i i 3 34*
1 10
no
N o v ’ 10 . . . . i n
lie
105 V . .. .. .. 105 V N o v ’ 10
105 V 103 V
82 N o v ’08
**)
101 ■ 108 106 V u c t MO
105 v i'o o v
104°s
105
107V
105V N o v ’ 10
71
76 U ct ’08
102 104 T
103 V
103 V D e o ’ 10
112 Uct ’ 06
I 06V
lUii *«i
108 V D c o ’06
:::
lU5 V
107 V D e o ’ 00 :*m
107
105 V N o v ’10 m*\ 105 V 107V
105 V
1U6 V N o v 10 . . . . 105'# 105 V
tttj
01 F e b MO . .. .'! 91
01
I 01 7*
2 1 0 4 V 100V
104V
104 V
103*4 Sale L0234
103*4
4 1 0 1 V 103 V
IU5 *8 . . . . . . 104 *4 O ct ’ 10 . . . . 104 V 107 V
no
.........
11 U >a 110*6 1 109 115 V
D e o ’ 101.... 96
98 V
N o v ’10
100 1 0 9 V
110 V 111 hi 14 108 V H 2 V
03
0 8 h. 98
107 h al08h i 109
111
08 V
Sul a
So
109
100 V
100
89 V
00
89
76
81
no
01 V
92*2
sale
82
86 V
105 V ... . . .
83 ha 86
lu O ‘8 bale
luO .........
103*» sale
06 *» bale
07
s a le
114 ha s a le
I l l s 11234
03 *s bale
106
70 M ar’ 10
103 Sep ’09
106 V N o v ’04
109 I 2
109
112 Hep ’ 00
101 D e c ’ 10
94 V Alar’ l o
01V Deo MO'
87 A u g ’ 10
76 |
74V
82 V D e c'1 0
80 J ’ n o ’ 10
I 06 | 3
luO
86 O ct ’ 00
1007* lo lh a 109
100 D e o ’ lu'
103
1 0 3 V 75
97
68
9 6 ha
95*8
97
29
114*2 114 ha1 24
111 ha 111*2' 10
93
93*4 20
94 J a n ’ 09 '
107 *# D e o ’ 09 .
V
....j
70
106
70
112 ha
99 1047#
00 ha 94*4
Olha U3 ha
87
90
70
81
80hk 86*4
87*4 01
100 106
99V 10‘i
08 V 1 0 I V
116 V
95
08 V
94
98V
L13V 1 1 ,
108*4 1137»
01
04 V
101
06
06
108 110 ha
03
95
1083i 1 O03*
0 8 7* bale
......... 1 U0
no
no
105 108
96
96
2 94
*J8V
108V 109
18 10 / 113V
98 sa
98*#
0 98 103 V
86 J ’l y ’ 10 . . . J 86
80
99 D e c ’ 10 . J 00 102
97 ha 1 0 0
90
83 D e o ’10 •••J 83
6 3 ** sa it,
63 ha
64 ’* 87 66 V 7 7 s,
103 103*4 108*4 108*4
100
107
V
- .........
83 D o e ’ OU
75*8
76**
*74
2 73 V *7f
83 Se]
83
90
! 33
43*2 De
52 V
46 q sa le
4634
4 0 34jH i 32
64
..........
7
UV D e o ’ l o
4
11V
* 6*4........
4
0°»
07* 17
12 V
......... 88*4
88 V
86 ha Sale
86 *g
_ 2*13 82 V
7 i *2 F o h ’ lu
71
73 hi A p r ’ 10!
08 V
1 0 0 °* ........ 100 hi N o v ’ oO
H O 3* Sale n o 3# n o v "lO i*U0
*v
88'# 88*2 8 8 *» D e o ’10
86 V
34 F e b ’0 7 1
00V
¥8*
74 V
iio v
92
105 ** N o v ’ 10'. ,.J 10134 105**
103ha 103 ‘2 N o v ’ 10 ...9103*2 104
102*4 102 J ’u o’ lO'
99 102
86 84
81 I
77
87*4
W7*a 03 hi O ct ’ 10'.
93*2 9 8 V
101 ha ...
100
100
84
06
9 3 s* Sal*
98
93*4
93*4
93
03V
93V
93
94
21
47,
00s* 01
« 0V
6 80 V 03
90*4
105*4 Sale 1 0 ia4 105*2 294 08 1 0 6 \
99
96 A u g ’ 10 . . . . 95
09
004
96 s4 99
08*4
00a4 87
08 V Sale
95
99 V
97'
9 7 V 89
97 *» Side
■09 ha l o O ’s 100 D e o ’ 10' . . . 97 lOOha
07*4
0 5 V 23 03
95
95 Sale
102 <># 10234 102*4 D e o ’ 101. . . . 100 *» 102*4
ilO K D s i— C o n c lu d e d .
I n d u s tr ia l
Va-Car Chem 1st 15-yr 5a 1923
82
162V W estin g h ou se E A M s £ 5s ’ 31
J U s c e ltu iie o u s
100 105
82V 89 V A dam s E x co l tr g 4 s ..........1948
0 6 V A rm ou r A C o l s t i e a l e s t l has’ 30
01
Uusli T erm lu al 1st 4 s ........1952
05V 100
C ou sol 5 s .............................. 1955
97V
94
100 114 V Chic J o A t Y ard co l g 53.1915
96 V O s v D e tM A M ld g r in c o m e s .. 1011
l u s t it f o r I r r ig W ks 4 has 1943
102 10 4
91V 00 V In t M ercau M arin o 4has..i*J22
03
96 V tu t N a v ig a tio n 1st s f o s . 1920
N e w p N e Ship A D D 5 s d l9 9 0
i04 V 105
85 V U4E N Y D ook 50-yr 1st g 4 s ..1951
86 90V P ro v id e n ce s e e d eb 4 s . . . .1957
10JV 104 V P rovid en t Eoan S o o 4 h a s .l9 2 1
10IV 105 V 8 Yu ba W at Co cou g 6 s ..1923
io n # 105 V W ash W ater P o w 1st o s .. 1030
D ue A p r t D ue May g D u e .r u e A D ue .r i y
80
130
is -2
o Pac B ll 1st ro f 4 s ......... 1955
S ou th ern —1st con g o s ___ 1994
R e g is te re d ....................... 1994
D evelop A geu 4s Ser A . 1956’
M ob A O hio ooll tr g 4 s .. 1938
M em D iv 1st g 4 V -5 s ... 1996
S t E ouis d iv 1st g 4 s ___ 1951
A la Ceil B 1st g 6s ......... 1918
A tl A D anv 1st g 4 s........1948
2d 4 s ..................................1948
A tl A Yad 1st g g u a r 4s. 1949
Col A G re e n v 1st Os........1916
E T Va A G a D iv g 6s .. 1930
C on 1st gold 6s ............. 1956
E T on reor lieu g 5 s........1938
G a M idlan d 1st 3 s........... 1946
G a P a c B y 1st g 6s ......... 1922
K n o x A O hio 1st g 6 s ...1 9 2 5
jdoO A B ir prior lion g 5s 1945
M o rtg a g e g o ld 4 s ......... 1945
R ich A D an co n g 6 s ....1 9 1 6
D eb Os stam ped............. 1927
R ich A M eek 1st g 4 s . .. 1948
So Car A G a 1st g 5 s . . ..1 9 1 9
V irgin ia M id ser <J O s...1 9 1 0
S eries D 4 -5 s..................1921
Series E o s .....................1 9 2 6
G eneral o s .......................1936
G uar stam ped ........... 1936
W u A W 1 st o y gu 4 s .. 1924
W e st N U 1st c o u g 6 s ..1914
S A N A la See E A N
S pok au e In te rm it 1st g 5s 1955
’ I er A ot St E 1st g 4 has..1939
JL 1st co u gold 5 s ....1 8 9 4 -1 9 4 4
G en refu n d s t g a s ......... 1953
S t E M B g e T e r gu g o s . 1930
T e x A N O See So P a o Co
T e x A Pao 1st gold 6s ........2000
2d g o ld in o 6s ................... p2000
Ea D iv B E 1st g 6s ........1931
W l l l n W A N W l s t g u S s ’ JO
T o ! A G O 1st g 5s................1935
W estern D iv 1st g 6 s ...1 9 3 5
G en eral gold 5 s ................. 1935
K an A M 1st g u g 4 s . ...1 9 9 0
T o l P A W 1st gold 4 s . . ..1 9 1 7
T o l S t E A W p r I le n g 3 V s .l9 2 5
60-year gold 4 s ................. 1950
C oll tr 4s g Ser A ........... 1917
T o r H am A But! 1st g 4 s ./t l9 4 6
lster A D el 1st co n g oa 1928
1st re fu n d g 4 s ........... 1952
Un Pao B B A 1 g r g 4s ...1 9 4 7
R e g is te r e d ....................... 1947
20-yr c o n v 4 s .....................1927
1st A r e f 4 s .......................</2U08
Ore B y A N a v c o u g 48.1946
Ore S hort l i n e l s t g 6s .. 1922
1st co n s o l g 6s ................1946
G uar relu u d 4 s .............1929
B e g ls te r e d ................... 1929
U tah A N o r gold 6s .. 1926
Hni N J B it A 0 C o See P a B B
Utah C entral See B io G r W es
Utah A N o rth See Un P a cific
U tica A B lack B See N Y Cent
andalla co n so l g 4 s ___ 1955 F-A
era C ruz A P l s t g u 4 V s l0 3 4 j . j
V er V a l ln d A W s e e M o P
V irg in ia M id See S outh B y
Va A S o u th w ’ t 1st g u o s .2 0 0 3 J .J
1st co u s oO-year 5 s ......... 1968 A-O
abash 1st gold 5 s ........1939 M-N
2d gold 6s ................... 1939 F-A
D e b e n tu re series B ........1939 J -J
1st lien equ ip s fd g 5 s ..1921 M-S
1st lie n 50 yr g term 48.1 9 5 4 J .J
1st re f and e x t g 4s . ...1 9 5 6 J - J
D et A UU E x t 1st g 5 s ..1941 J -J
D es M oin D iv l s t g 4 s ..1939 J-J
Om D iv 1st g 3 has........... 1941 A-O
T o l A Ch D iv 1st g 4 s . .. 1941 M-S
W ab P itts T e rm 1st g 4 s . 1954 J-D
T r u s t Co c e r tfs .........................
2d gold 4 s ............................ 1954 J-D
T r u s t Co c e r tfs ......................
W arren s e e D el ixio A W est
W ash C en t Nee N o r Pao
W ash O A W See Sou th ern
W ash T e rm ! 1st g u 0 has.. 1945 F-A
W est M aryland 1 st g 4 s ...1 9 5 2 A-O
G en A c o n v g 4 s ............. 1952 A-O
T ru s t Co c e r t f s ........................
W Va C en t A P 1st g 6s 1911 J -J
W e s t N Y A P a l s t g 6 s ..1937 J .J
G eu gold 4 s .........................1943 A-O
In c o m e o s ........................ d l9 4 3 Nov
W est N o Car see South B y
W h eel’ g A E E 1st g 6 s . ..1 9 2 6 A-O
W h eel D iv 1 st gold 6 s ..1928 J .J
E x to u A Im p g o ld 5 s ...1 9 3 0 F-A
B B 1st oon sol 4s............... 1949 11-S
20-year equ ip a t 5s ...1 9 2 2 J -J
W ilk es A E ast See E rie
WU A S io u x F Nee S t P M A M
W is C en t 60-yr 1st gen 4s 1949 J .J
S u p A D u ld iv A term 1st 4s’ 3U M-N
M a n u fa c t u r in g &
OOL
3
81V
81V
1*48 V Sale 146 V 148 V 68
104*4 Hale 101*4 104 V It
86
21
81*4 86 85
01
0 1 s* Sale
9 1 V 22
w
96
«6
......... 00
.......... 08V U6 Sop MC
103
4
103
103 104
1
97 V
97
07 h. 97 V
102 ......... 102 O ct 'll.
93 N o v ’ l 0
02 06
93 M ay’ io
02
95
M-N 104h> 104*4 104 V 104 V i t
90
11
80 V
J -J
80 V Sale
87
88 88 D e o ’ to
J -J
103 V 23
J -D 103 sale 102 V
10 4
120
M-N 103 7s Sale 103 V
*5
M-N 1033* I 0 3 \ L03 V 104 V
• N o p r ice Frhlayj latest bid and a sked th is w eek . 6 D u e Feb u
[VOL. LXXXXl.
New York Bond Record— Concluded— Page 4
1756
Sale
Sale
J -D
J .J
M-S
J-D
A-O
J -J
J -J
A-O
AIN
A-O
FA
J -J
F-A
M-N
M -S
J -J
J -J
100V 100V 14
02 V 20
01V
01 V
92V
90
1
02V
85
100V
03*1
01V 01 V
9
92
02V 92 v
6
89*4 90S 90
*J8V 95 V O ct ’ i t
too May Mi
105
100 100
35 A u g ’ 10
40
35
40
98
06
00 V 06 V NovMO
04 V D ec Mo
56
03*2 65
71V
78 V
78 V
83
Sale
3 70
r
0a D ee'O t
98
92 V 01 N oy ’ 11
85
00V 94
90
84
Sale
84 V 10 84
95 J ’ l y ’ OS'
'--Tr112 J ’ l y ’ Ui
i o i‘
...... 103 A u g ’ i t ....
00
90
03V
90 V 04 V
87 V 00
95 V 98
ioT*
A;D uo Aug o D u e u c t p D a e N ov s O p tlo n 3 « I *
CHICAGO STOCK EXCH ANG E—Stock Record—Daily, Weekly and Yearly
STOCKS— HIGHEST A N D LOW EST SALE PRICES
Saturday
Dec. 24.
Tuesday
Dec. 27.
Monday
Dec. 20.
*165
*142
*0
*92
2412
10
*0
4
*21%
*70
*20%
*04
*18
*58
*6612
11
*5012
Wednesday
Dec. 28.
*165
2*2 *U 2
*0
*94
93
25
2514
10%
11
*0
0>.(
4
4
221.1 *2112
71
*05
22
21
68
*64
22
*18
00
*58
69
*0012
11'S *11
54
*5012
212
100
261
11
0>4
4'8
22%
70
21%
68
22
60
69
H '4
54
Thursday
Dec. 29.
Friday
Dec. 30.
Sates
n} the
Week
Shares
STO C K S
C H IC A G O ST O C K
EXCHANGE
Lowest
KaiTOads
Last Sale 170
Oct’ 10
Last Sale 1%
Jwly’ 10
Last Sale 034
Do pret
D cc’ 10
Last Sale 92% Dec’ 10
25
25% 2,163 Chic R ys part ctf
24% 251
11
*10
11
*10
40 Chic R ys part ctl
Chic B ys part c tl •4” __.
Last Sale 0
Dec’ 10
412
1,135
4%
5
4%
Last Sale 22
Dec’ 10
Do p r e t .
D cc’ 10
Last Sale 71
23
23
22
703
23
*64
68
68
68
65
Do
p r e f _________
Last Sale 20
Sep’ 10
N orthw estern E le v ._
Last Sale 60
N ov’ 10
Do
p r e l ______. . .
69%
70%
200 ■ou th Side E le v a te d .
*57:2 68
*11
11%
11% *11
3
Last Sale 50
D cc’ 10
Do
p r e f.
M iscellaneous
83.i
834
8'%
9%
384
76
70
77
77%
Do
p re t_________
315
Last Sale 260
Dec’ 10
Am erican R a d ia to r .
Last Sale 130
1*3*1*
131
Dec’ 10
Do
pret_________
76
70
*75* 76lg
76l8
75
75
*112
Last Sale 111% D e c'10
Do
p re t_________
1413| 141*34
14*2*1' *143 143% *143
1431
25 A m er T elep & T e le g _____
40
*8912 41
42
42
40
40
24 1100th Fisheries c o m ____
401
401
40
125
V o tin g T ru st c t f.
*65
67
07
65
65
Do pret___________
06%
06
110
*45
48
48
Last Sale 50
Dec’ 10
*1
Last Sale .
N ov’ 10
1'8
Us
Chic B rew ’ g & M a lt's ____
*2
3
3
Last Sale :
Do pret_____________ . .
o c t ’ lo
4t!4
41% 4134
41%
42
4034 4034
548 Chic P n eu m atic T oolIlO O
123% 12314
123U 121 121
120
120
203 C h icago T elep h on e ..100
149 151
151
150 153
17 Chic T ltlo A T ru s t___ 100
111% 1143S
111% 113% 114
U 3* 1*1*3*
285 Co in m o n w 'th -E d is o n . 100
ImsI Sale l-%
D o r i g h t s ____________
Feb’ 10
*14
lo
1438 14%
*14
15
"*25 Corn Broil B et Co c o m ___
Last Sale 79% Apr’ 10
Do
uo
pret____
9312 9312 93
*9312 95
93
92%
93»4
*180 D iam ond M atch_____ l o o
.05
.07
.03
.03
.05
.05
D o rig h ts _____________
.03 .03% 14,849
05
06
00
*00
60%
60
60%
325 IPluoIs B rick __________ 100
67
*40
*40
40
46
10 M asonic T e m p i o . . . . ____
67
6712 6*7*1;
*0*7* *07* *6*8* *07
68
60 M<:C rum -H ow ell C o . .1 0 0
90i2
961;
Last Sale 97
Dec’ 10
Do
p r e f . . . . __ _
Last Sale 2% June’07
Mllw A Chic Brew ing
21
Last Sale 20
21
D o pret____________ _____
N o v ’09
*118 120 *118 120 *117 111 119
119
25 N ational B iscu it______ 100
*121 122 *121 122
Last Sale 123
Dec’ 10
Do
p r e f__________ 100
117 117 *115 120
120 120
119
119
**29 N ational C a rb o n ______ 100
118
118
Last Sale 117% Dec’ 10
Do
pret___________100
*105* 100
105% 10538 *105 100
105% 106%
**46 P e o p le ’s Gas L A O o k e . 100
Last Sale 11-10 Mcll’09
D o rig h ts_______
ISO 1S0% 18034 181.% 181% 181% 180
18134 1*265 S e a rs-B o e b u ck c o m . .1 0 0
+119 120 *119 11912
Last Sale 119% D cc’ 10
Do
p r e f___________ 100
100 10014 *100 100% IOOI4 100% 100% 101
*494 Sw ift A C o ____________ 100
*105 170 *165 170 *103 165
1/0
170
6 The Q uaker O ats C o . .1 0 0
Last Sale 034 June’ 10
D o rig h ts________
*10212 10312 103 103
103 103
103
103
Do
p r e f__________ 100
*190
6%
6% 6%
♦612 7
03S
638
6*8
106 Unit B o x Bd A P C o . 100
Last Sale 734
ApFOS
Do p re f___________100
2334
*23
2334
Last Sale 24
D e c'10
W estern S to n e_______ 100
83.i
76*4
*260
S34
701.1
834
76
*260
*____
*75
*112
*142
40
*40
*05
*45
*1
*2
41
*123
*149
*1131-
8*4
76
Chicago Bond Record
BONDS
C H IC A G O S T O C K
EXCHANGE
W eek ending D e c . 30
Inter
est
P-rioa
Price
Friday
Dec. 30
Hid
Ask
Week's
Range or
Imst Sale
Range for Year 1910
Range for Previous Yeas
(1909)
Highest
Highest
160 O ct 24 185 M ch 7
i >2 J ly 2*
3% Jan 26
4 J ’ly .t
7% Jan 7
60% Sep _£ 100 Jan 3
i d 4 b e p 13
36 Jan 3
8 M avgo
16 Jan lu
3 May24
9% Jan t
2% J negy
6% A u g It
20 A u g :«
39 , an 6
69 F e b 17
(7-3, M c h jo
16 Jan 14
25 J ’n e . i
5l F e b 7
72 J ’ne 22
15 A p r 1
23 J ne:.4
53 M a y jl
66 J ’ n e . i
55% J ly 5
72% J ne22
7 J ’ly 28 6438 Jan 3
40 J ’l y .6 104 Jan 6
180 M ch
1% O ct
5 O ct
97% D ec
3 ) D ec
101? D ec
8 D ec
3% D ec
30 D ec
78 D ec
15% Sep
47 Jan
17 N o v
63 Jan
60 Jan
29% A p r
97 F e b
F eb
Jan
Jan
J 'ly
4534 Jan
30 4an
13% Jan
29% Jau
62 J Tv
86% M ay
19% D ec
69 D ec
25 M ay
73 May
61 M ay
54i D ec
108 D ec
6%
62%
240
1 .6
72
107
1311
31
29
66
40
7%
7134
too
126
64%
101
139
Jan
Jan
Jan
Jan
Apr
F eb
Aug
10 M av
20 O ct
48 J ’ne
61% Jan
1 Apr
2% A p r
20 M ch
127 Jan
117 Jan
107 Jan
15% N ov
86 J ’no
225% O ct
132 J ’ly
81% D ec
112 Sep
145 N uv
4/i D ec
35 D ec
75% D ec
68 A p r
1 Apr
2% N o /
42 D ec
140 Sep
152 O ct
121% J 'ly
17*% F eb
70% Mch
117 Jan
130-34 A u g
J ’n e 30
J ’ly 20
A p r .6
J ’ly 19
F eb 7
Aug 6
J ’ ly 30
J 'u o 6
A u g 22
J 'n o 0
D e c 17
FeO 4
3 S ep 23
25% J ly 26
UO M avl7
142 A u g 26
198% J 'ly 27
1% Jan .0
13% J ’ly 9
.0% A p r 7
82% Sep 3U
.03 D eo 22
53 J ’ly 26
43% Mch 9
40 M ch 17
93 J ’ ne 28
135a Jan lo
82 Jan 4
261 D e c 5
135 A p r 4
84% M a y io
112 Jan 11
142% M ch 9
42 D ec 10
40% D e c 19
14 Jan 4
55 F e b 7
1 F eb 4
3 S ep 23
41 F e b 1
137 Jan 3
163 M cb lu
1 2 l% Jan 11
2 Jan 13
22% Jan 8
82 F e b 28
127
an 6
.21 D e c 19
91 M cb 28
•16 Jan 7
67% D e c 27
1923, A p r 20
101
118
104
112
103
Aug 3
J ’ ly 19
F e b 24
F e b 10
J ’ ly 26
119
125
145
123
H5%
D o c 27
Jail 1
O ct 31
N ov 1
Jan 3
148
116%
100
155
0
101
6*4
Feb 7
Aug 8
D ec 27
J 'ly 27
J ne22
j ’ly 16
A p r 28
180'% N o v 12
122 Mch 8
109->8Jan 8
186 F e b 19
9 A lay.6
106 Jan 6
15*8 Jan 3
15
J ’ ue3u
2638 D e c 16
38
43
Jun
Jan
20
97%
118%
82
110
N ov
Jan
F eb
ja u
Jan
102 .Ian
% F eb
66 oan
101 Jan
100% Jan
119 Jan
98% Jan
% F eb
334 Mch
15 F eb
190
4
15
119%
25% A u g
88% M ay
88% D ec
47 Sep
21
j ’ ne
Sep
Sep
Deo
N ov
Aug
Mch
D eo
12134 O ct
114% A u g
162 Dec
119%
130
108%
124
119%
1
169%
105 D ec
1% Mch
9% Jan
26 M ch
Chicago Banks and Trust Companies
IP ds
Sold
llangs
for
Year 1910
N AM E
Outstand
ing
Slock
t
Surplus
Prof Us
t
Dividend Record
In
1999
In
1910
L*eriol
Last Paid
%
No. Low
High Jaluinet N a tio n a l_____
8100,099
$46,478
6
0 An Jan ’ 11. G
A m or S traw b’ d 1st 6 s . 1911
____
9934 99-i.i C h icago C ity ________ . . .
599,009
245,216
10
10
j j Jan ’ 11,5
A rm ou r A Co 4143___ 1039
{ 92% Salo
92%
6
90*4 94% C o n tl’ tal A C om m N at 20,009,000 9,764,064
Q-J Jan ’ l l , 2%
A u rora K lglnA C hlc 5.1041
Corn E xch ange N atloua 3,009,009 5,497,543
12
16
Q-J Jan ’ 11.4
Cal A So Chic R y Co
D rexcl S ta te____________
209,990
30,767
9
l + l Jan ’ l l , 1%
8
1st M 5s...................... 1927 F A
102
D rovers’ D ep N ation a l.
600,000
402,510
10
10
Q-J Jan '1 1,2 %
Ca3S A v A F G (St L) 5s T 2 J - J
101%
E nglew ood S ta te_______
200,009
40,916
6
6
Q-J
Jan ’ l l , 1%
Ohio B oard of T rad e 4sl027 J - D
100
First N a tio n a l_________ 10,000,999 10,903,894
12s
12* Q-M Dec 31’ 10,3u
C h icago C ity B y 5 s . . . 1927 F - A lu2% Sale
102
'"2 7
150,009
193,486
i o i « 8 10*3% First N at E n g le w o o d ___
10
Q-M Dec30’ 10,2%
10
Chic Consol Br & Mlt Cs___ J
103
Forem an Bros B k’ g C o . 1,090,900
652,449
Frlv ate Ba nk
Chic Consol T rao 4 14s 1939 J - I)
60
.....
Fort D earborn N ational 1,590,009
417,082
8
8
Q-J Jan '11, 2
Chic A u ditoriu m Ist5 sl9 2 9 F - A
903.J
....
H ibernian B ’ k’ g A ss’ n . . 1,590,009
981,665
H 8+ 2
Q-J Jan '1 1,2 2
Chic D ock Co 1st 4 3 ..1 0 2 9 A - ()
K aspar S tate B a n k ____
200,909
162,249
10
J-J Jan '11, 5
10
+
15
Ohio J c U R 1st M g 53.1045 v l- S
____
’ 94l2
La Salle St N ation a l . . 1.000.000
258,839 Beg. b us. Ma y TO V.90, p.1277
Chic N o Shore Elec 6 s .1912 \ - O
87
Live S to ck E x ch ’ge Nat 1.250,000
525,59/
10
10
Dec31'10,2%
Q-M
87
.
Chic l ’ ne Tool 1st 5 s .a l9 2 1 J - J
8-1
*841*4 *8*8"" M onroe N a tio n a l___ . . .
300,009
66,795
4
4
Q-T Nov '10. 1
Chic B y 6s....................... 1927 P - A t 97% 97%
97%
2 96 1013a Nat Bank o f R e p u b l ic .. 2,000,009 1,255,625
8
8
Q-J Dec31T0,2
Chic B y s 4-5s series ” A ’ A - U 1 91 Sale
89%
91
20 87% 95% N ational C it y ___________ 1,500,000
405,878
0
6
Q-J Jan ’ l l , 1%
Chlo Uys 4-5s series “ U” J - D
82% Sale
82%
22 75 86
N ational P r o d u ce _______
250,000
81.807
3
4
Q-J Jan '11, 1%
Chic Uys 4-53 series ’ ’C’ H - A
____
90%
90% 91
N orth A v en u e State . .
200,009
70.952
5H
614 Q-J Jan '11, 134
Chlo Uys coll 6 s . . . l 9 i ; i F - A t 99* 100 "
0934
97% 101% N orth Side S tate S a v ’gs
50,000
29,191
Q-J Jan '11, 1%
6
G
Chlo Uys Fund 6 s . .1013 H - A
97%
N orth W est S ta te _____
97% 98
200,000
22,228
4 >Q- \ Jan ’ l l , 1%
Chic U ys T en i Ctfs 1st 5s
100%
100% 100-34 P e op le’s Stk y d s S ta te f). Dec31T0,2
300,000
109,876
7
Chic l i 1 4 1J B B 4 s . .2002 *vi - l\
Prairie S ta te____________
000.000
86,406
6
Q-M I)ec30’ 10,l%
6
C ollat trust g 5s— 191.) vl- b
H allw ay E x ch a n g e ____
250,000
33,452 None None
Jan ’ 08. 2
Ohio T eleph on o 5s____ 1023 J - li {102 102% 102
100-33 10*3*% S e c u r it y _______. . . _____
300,009
191,357
*l-J Jan ’ l l . 1%
414
C om m otnv-E dison 5 s . 1043 .1 101 Sale
100%
13 100% 102% South C h icago S av in gs.
200,099
89,000
6
714 Q-J Jan T l , 2
Chic Edison d eb 6 s . 1913 J - J
____
109%
South Side S ta te _______
100% 100%
200,909
10,439
Q-J
6
Jan ' l l , 1%
114
1st g 5s____ July 1926 A - O
100%
100 100%. S tate Bank o f C h ic a g o .. 1,500,099 1,782,614 12
12
Q-J Jan ’ 1 1 ,3
■
D ebenture 5s____ 1920 >1
100-%
Stock Yards S av in gs___
250,909
200,198
8
8
Q-M l)ec31T0,2
Con nnonw Kleot 5s51943 .1- fa { ------ 101
100%
2 100 102-3.1 Union Bank of Chicago
100%
200,UUU
37,006
6
M N Nov '10, 3
6
Illinois Tunnel 5s___ .1928 I - D
80
D ec’Os
W ashington Park N a t’ l
100.90J
7,877 See V. 90. p. 159
K an C ity B y A Light
W endell S t a t e _________
50.000
10,044 None None Q-M Dec31’ 08.1%
Co 5 s _______________ 1913 1 - N
05% Oet’ 10
94*4 95% Central Trust Co o f I I I .. 2,000,099
938,613
7
714 Q-J Jan ’ 1 1 ,2
95
K n lck ’ b'k er ic e 1st 5« 1928 A - O t 97
98%
D ec’ 10 ____
0434 95
C hicago Sav Bk A T r ___
1(500,000
112,944
6
6
QM Jan ’ l l , 1%
77
Lako St El— 1st 5s___ 1928 J - J
O ct’ 10 —
75
85
C h icago T ltlo & T r u s t .. 5,099,909 (1,543,802
6
714 Q-J Dec31’ l(),2
16
May’Oo
In com e 5s__________ 192.
Feb
Citizens T ru st A Savings
60,099 •
8,022
4
A-O Oct 9 ’ 10. 3
6
lle t r W Side Ei
Colonial T rust A Savings
690.999
459,360 8 + 2
8 + 2 Q-J Jan '1 1 ,2 %
lat 4s_______________ 1938 F - A 181%
81%
81%
1
80
84
C ont A C om m T r A S a v . 3,000,000
_
441,155
E xten sion g 43_____193s J - J 1 78
N ov’ 10 ____
78
76
80
D rovers' 1 rust ASavIngs
200,000
123,963
8
8
Q-J Jan ’ 1 1 ,2
M orris A C o . 114 ..1039
- J
90% D ec’ 10 ____
88
93%
P arnell T rust C o . . ____
173,728
1,500,000
3
6
Q-J Jan '11, 1%
N orth W est El 1st 4 s . 1011 1 - b 1 96% Sale
961.1
96%
5
9334 96%
First Trust A S a v in g s .. 2,500,009 3,165,066
16
Q-M Dec31’ 10,4
12
N o W G -L A Coke Co 5s 23 J - M
Apr’ 10 . . . .
99
90
99
G uarantee T rust A S a v .
19,621 Incorp orated 1908 V.87, p.1138
200,900
O gden Gas 5s_________194./ 1 - N
925*8 Sale
6
0258
92%_
92% 96% Harris T rust A S a v in gs. 1,259,009 1,471,163
914 11 + 5 Q-J Jan ’ 11,3
P ea rsons-T a ft 5s---------191 > I - li
9 8 % ____ 10038 Mch’Ou
Illinois T ru st A Savings 5,000,099 8.609,829 16 + 4
q Nov 19’ 10. 1
4 . 4 0 s .................................... 4 - S
95
____
98%* Mch’ 10 ____
96% 96% K en w ood T ru st A Savgs
59,49 J
200,009
0 H 7+114 Q J Dc31’ 10,134t>
I
N
4.60s Series E ___________
98
...
97
Feb’ 10 —
97
97
41,792
Lake View Trust ASavgs
209,099
5
514 Q-J Oct '10, 1%
4.80s Series I’’ ___________ 1 - N
9 7 % ____
98% Mch’ 10 —
98% 98% M erchants' L o a n A T r C o 5,909,009 6,012,401
12
12
Q-J Jan '1 1 ,3
P eo Gas L & C 1st 6 s . 1943 \ - O
1213,t May’OJ
226,783
M otrop olltan T ru stA S av
750.909
6
6
Q-J Jan ' l l , li*
R efu n d in g g Os____ 1947 v l- s 10i% Sale
I
1003,1 103% M ichigan A v e T : C o ___
101% D ec’ 10
750,000 Beg. b us. Oct 29'1 0 V 9 1 ,p .l2 2 l
200.000
Chic Gas L A C 1st 5sl037 J - j 1 9 7 % ____ 103% D ec’ 10 . . . .
103 1041-/ N orthern T ru st C o _____
2,382,905
1,500.909
8
8
Q-J D ec3i’ 10,2
Consum Gas 1st 5 s . 1936 I - D
Dec’ lO ____
101
100% 102% N orth -W estern T rA S a v
69,040
200,000
6
6
Jan ’ l l , 4
M ut'l Fuel Gas l s t 5 s l 947 Vl - N - I I I 1*0*1% 10034 O ct’ 10 . . . .
100-34 1011.. Pullm an T ru st A S a v g s.
233,906
3)0.000
8
8
Q-J Dec31’ ld,2
S outh Side Elev 4 M s -1 9 2 s J - J
92% 94
92%
1
9l-% 94
92
Sheridan T r A S av Bank
200.000
21.539 Beg. b US. J'ly 12 ’0 9 V.89.P.141
J
Sw ift A Co 1st g 5 s . ..1 0 1 4
------ -100
9934
9 9 3.1
1
260,075 Comm enced bus. Sept 6 1910
90% 100% .(/Standard Tr A Sav_____ 1,000.000
U nion El (Ixjop) 5 s . .194.) A • O
88
Apr’ lu —
88
88
200,000
39,003
S to ck m e n ’s Trust A Sav
5
514 J-J July '10, 3
Union Paelllc c o n v 4 s . 1911 )1 - N
114
N ov’04
1,161,140 * 8 + 2
Union Trust C o ________
8 + 2 Q-M Dec31’ 10,2
61
U nited B o x Board cot 6T2U
70 * Apr’ 10
W est’ n Trust A Savings 1,250,000
*70* 70*
148,374
6
Q-J Jan '11, H*
6
6S% 60
General m tge 6 s _______ j*-*3
61% O ct’ 10 —
200,000
61% 65
119,050
W est Side T rA S a v Bank
5
Q-M Dec31’ 10,2
W estern Ston e Co 5s_ . 1009 \ o
85% July’08
200.000
66,122
vVoodlawn T r A S a v Ban..
0
Q-J Jan ’ 11.2
714
N ote. — A ccrued m trrest nusP be add ed to all C h icago b ond prices.
* Bid and asked prices: no sales wero made on this day. \ ___ . . .
.......
v .1.____ , — ullgluvn lur
mam.ui.iu
L im.° prf 00
httost price this week, a Due Dee. 31. 6 Dae Juno, k Also 29% In stock, n Capitaland surplus to be Increased. ^D ividends are paid q IJ,"
With extra payments Q-F. » In addition the equivalent oi 4% mere came from First Trust A Savings Bank, r July 31 1919. u In addition the equivalent of 1% cam i
from fclrst Trust A Savings Bank.
v An extra payment of 1»4% was made Dec 14 1019. to See V. 9 l . p. 155 1, 72, 17. y Sept. 2 1910,
t An extra dividend of
2% was paid D ec. 29 1919.
BOSTON STOCK E XC H A N G E —Stock Record, Daily, Weekly and Yearly
SH AR E PR W E S — NOT PER CENT U M PRICEi
Saturday
Dec. 24
Monday
Dec. 26
11
1
11
Tuesday
Dec. 27
Wednesday
Dec. 28
Thursday
Dec 29
Friday
Dec 30
Sales
o f the
Week
Shares
ST O C K S
B O S T O N STOCK
EXCHANGE
Range Since Jan. 1
ads
5 A tch T o pK a&ilro
C iu J ’ly 20
Santa F c . 100
*9934 100*4 *100*8 100% *■10078 101% 1017s 101%
071- A u g 2
Do
p r e f_________ .1 0 0
Last Sale 10234 Dec’ 10
-*■10212 103 *102 103
224 224
224*2 224*2
147 B oston & A lb a n y ____ 100 218 J ’ n o io
221 224
224 225
•
118 B o sto n e le v a t e d ______l o j *122 A u g L
129
128 128l2 123 128*2 128*4 123*4 129
LOJ J ’ly .7
B oston & L o w e ll______t o o
1
* ____215
Im I Sale 215
Dec'10
+____215
t
95 B oston & M aine______100 A l l 8% D eo 30
123 123 (*118*2 119
125*2 125*2 125 125
1
285
O ct 4
Boston
&
P
r
o
v
id
e
n
c
e
.
100
14
-----299
*
•
293*2 296*2
1
14 J ’n e lo
____ B oston S u b u rb a n El C o s .
•
Last Sale 15
D cc’ 10
*15
18
*15
16
70 J ’ly 21
11
Do
p r o f_______________
Last Sale 72
D ec’ 10 —
*70
72
1
*70
72
8 M ch
I
B o sto n <5s W oro E lec C o s .
Last Sale 10*4 O ct’ 10
1
35 A u g 29
51
Do
p r e f . _____________
1
39
39
39
38i2 39 * ____
1
D ec’ 10 ____ Chlo Jun o R y & U S Y .1 0 0 139 S ep 16
* 1 5 5 * 2 ____ * 1 5 5 * 2 ____
Last Sale 150
I
Do
p re f___________ 100 lU'J O ct 3
70
110*2 110*2
11
____ *109 112*2 110 110
*109
____ C o n n e cticu t R iv e r ___ 100 260 O ct 13
1
Deo’ 10
Last Sale 270
* ____ 270
•
327 F itch bu rg, p r e f_______ 100 12-1*41 S ep 21
129
130
I
128% 129
129 129
129 129
1
D ec’ 10 ____ Ga R y & E le ctric_____ 100 104 Jau J
1
Last Sale 117
*1 1 7 1 2 ____ *1 1 7 1 2 ____
85 A p r ..
10
Do
p r e f___________ 100
1
87*4
87*4
*87
____
+87% 83%
1
2 Maine C e n t r a l.. .
218
100 20- F ep 10
21U ’ 21U2 *211 218 *■211 218 *211
1
I U4 J ’ ly 20
41 Mass E lectric C os_____ 100
t
18*2
IS
18
17*2 17*2 *18
1712 17*2
1
75 J ’ly 1
1
85
85
181
Do
p r e f___________ 100
85
85
85*2 8512 85*4 85*4
1
151
151
565 N Y N H & H a r tfo r d . 100 140 A p r 28
151 151*4 151 151*8 151 151
1
1
1
1 N orthorn N H ___
100 130 D eo 6
141 141 *140 141
*138 141
1
1
I
Last Sale 2 i o " j u n e ’ Io
N orw ich & VVor p rc'f.1 0 0 21U M a y l„
1
1
____
15 Old C o l o n y . . _________ io o ISD 4 S ep 14
189 189 *189
189 189
189 189
26 M ay ,
•
__ R utland p re f______
1
Dec’ 10
Lost Sale 35
” io o
* ____ 37 * ____ 37
Deo’ 10 ____ Seattle E le c tr ic___
100 103 A u g 18
Last Sale 102
1
* ____109
1
* ____108
1
98% A u v 2
102
49
Do
p r e f___________ 100
102*4 102*1 *101
102U 102*4 102 102
t
1
171
460 U nion P a cific ______
l o o 16314 J ’ly 25
1G85s 1685s 168*s 168*2 109*’ 109*2 171
8014 J ’ly 26
92*’ 9212 *92*2
32
Do
p r e f..................... 100
*
93
1
*91*2 92*2 *91*2 92*2
2 V erm ont <5> M ass______ 100 1 5 1 O ct 15
157*2 15712 *•15712 160 *157*’ 160
*15712 160
1
•
83 S ep 26
91
91
91
91
338 W est End S t___________ 50
9!)% 9j7g
91
91
00 J ’ly 6
104
Do
p re f__________ 50
1
1
101 101
101*2 101*2
100*2 M>L
100*2 101
I
1
1
1
M isce lla n e o u s
1
1
30 J ’ ly 27
48
46
540 A m er A gricu l C h e m .,1 0 0
45-% 45%
4534
45
45*2 *45
08 12 D e c 22
1
496
Do
p r e f___________ 100
1
99
99
99*4
99*’
9334 99
9S3g 987g
4 D eo 7
362 A m er Pneu S ervice . 50
i
4I4 4% *4*2 4%
1
I 3'
1
1
1384 D eo 8
224
50
Do
p r e f_________
14
14
14
141’
15
14
14*g *14
1
•
135 A m er Sugar H eiln____ 100 111 G ot 3
111*4 114*’ 113*2 114*2 U434 115
114*2 115
Do
p r e f.....................i o o 11134 O ct 3
189
113
114
1
113 113*2 113 113 * ____ 114
1
1
5,766 A m er Telop & T e l c g .,1 0 0 127>4 J ’ ly 26
141*2 142*2 141*2 142*2 142*’ 143 ■ill 0*4 111
26 j ’ ly 7
I
1
Last Sale 32% D ec’ 10 ____ A m erican W o o le n ____ 100
00*2 D eo 7
Do
p r e f___________ i o o
91%
92
91% 91%
193
•
1
91*4 9134 90*2 91*4
1
1
7 M eb 15
Last Sale 9*2
A tl G u lf & W I S S L .1 0 0
Dee’ 10
1
10 M aylO
1
Last Sale 21*2 D ec’ 10
Do
p re f.................10 0
4i2 J 'ly 28
1
Last Sale 0
B o sto n L a n d ___________ 10
I
*5*2
6
N ov’ 10
*5*’
6
1
152
10 C u m b T e le p it T e le g .1 0 0 138l2 J 'ly 28
145 145 *145 148*4 *145*4 140 *145
1
1
7»a A p r i4
7%
8
*7*2
8
100 East B o sto n L a n d ___ __
*7*2
8
*7*2
7%
1
1
285 280
285 285
285 285
286
286
139 Edison E 'e o I l i u m . . . 100 A239 Jan 26
1
152 153
100 135 J ’ly -6
151*4 152
151% 153*4 151*2 152
433 General E l e c t r ic ..
1
I
70U F e b 8
88
88
87
87%
87% 87%
87*2
8712 1.569 M assaohusettsGasCos 100
1
89 M ay 16
1
Do
p re f___________ 100
120
91
94l2 94*2 94%
91*2
95
94*2 04*2
1
48 M ergenthaler L i n o . . . 100 31212 D eo 27
1
213
212*2 212*2 212*2 212*2 212*2 212% *210
2% Jan 3
*4
434
4
4*4
346 M exican T e le p h o n e .. 10
4
4
4
4*2
1
1
N E C o tto n Y a rn ____ 100 107 S ep 22
Last Sale 110
Dee’ 10
*109 112 *109 112
0912 A u g 3
Do
p r e f___________ 100
1
1
6
105*2 105*2
*103 107 *106 107 *105 100
198 N E T e le p h o n e_______ 100 120l2 A u g 17
133 138
138 138
138*2 138l2 138*2 133*2
•
1
03)4 NOV2o
Deo’ 10 ____ P acific C oast P o w e r .. 100
Last Sale 96
____ *95
____
*95
I
197 P u llm an C o____ _____.1 0 0 153 J ’ ne30
159
159*2
153*2
159
150*2
160
159
159
%
l l >4Jan 15
1 R e e ce B u t t o n - H o le .. 10
*12
13
*12
13
12
12
*12
13
1
175 S w ift & C o . . . . _______ 100 100 Jan 24
s
100*4 10034 100 100*4 100 100-% 100*4 100%
28 MchJU
yl
3534
36
36
*35
35% *35
101 T o r r tn g to n _____________ 25
30
36
O
27 Jan 18
Last Sale 27*8 Deo’ 10
Do
p r e f______ . . . 25
*27
28
+27
23
w
191 192
191
191
320 U nited F ruit__________ 100 166i2 Jan 15
192 192*4 191 192
Q
<
46%
J ’ ly t
5534
67
Un
S
hoo
M
ach
C
o
r
p
._
25
54%
55
551
2
5578
908
55*8
55*8
' 3
2514 J ’ ly 9
D o p r e f . . . _________ 25
29
29
29
29
388
*28*2 29*4
28*2 23*2
O
J ’ly 26
71*g 7214 70*4 71*8
71% 72%
72%
73*4 8,821 U S Steel C o rp ____ __ 100 i 6138
M
ll
Jf'lay
’ly vfl
26
1187g 1167g 116*2 11678 110 116-% 11634 116%
D o p re f____________ i o o
232
Feb 11
17
17
%
63 W est T elep it T e le g ._ 1 0 0
17*2 171’
*17
17*2
17*2
18
T
A
u
g
15
D
o
p
r
e
f________
.
.
.
1
0
0
91
91*g
180
*
9
1
*
2
____
01*4
91*4
A
......................
Alining
§
4 J ’ ly 13
OT
195 A d v e n tu re C o n . . . . . . 25
*6*2
7
7*8
7*8
*6*2
7*2
7*4
7*4
734 D eo 20
0
7%
8
1.600 Algomah Mining . . . . . . . 2 5
8
8*g
8*8
0
a
* -.-.
8*8
31 J ’ ly 13
£
35 A llo u e z_________________ 26
33
39
38
33
a
*38
40
+38*4
40
6514 J ’ ly 12
O
0034 6134 617g 03
6234
63% 3.792 A m algam ated C op per 100
61*4 62%
19*2 J ’ly 26
455 A m Z in c L ead & S m __25
26% 20*4 *25%
25%
25*2 2534 25*2 2534
9
12 14 May 4
1
905 A rizon a C o m m e rcia l. 25
1334 1334
14
14*2
1412
14*2
13*2 1334
5 J ’no30
25
t
110 A t l a n t i c __________
+5
6
5*2
5*2
3
*3*2
7
.60 M ch 0
300 B on anza D e v Co . . . 10
.50
.50
* .50
.55 * .50
.53
.50
.50
1
10 M ay 4
710 B o s& C orbC op& S IlU g
5
11*2 12
12
12*4
12
12*4
8
4i2 N ov 5
1
6
0
365 B u tto -B a la k la v a C o p . 10
6*2
6*2
0*2
6*’
0*g
6*4
M
15"s J ’ neau
173.1 18
18
18
*18
1834
18*3
18% 1,020 B u tte C oa litio n _______ 15
w
•
1
4434 J ’ly 12
1734 47%
18*2
4812
48
48
260 C alum et & A r i z o n a .. 10
46% 47*2
1
1
600 J ’ly 6
540
510
540 510
17 C alum et <5s H ecia____ 26
*550 560
540 550
Hi*’
13G J ’ly 16
1
16
10
15 C en ten nial______________25
♦15*2 16*2 *15*2
*15*2 17
11
Last Sale .03
Dec’ 10
Cons M ercur G o ld ____
1 .04 J ’ly 6
.06
* .03
.06 * .05
l
»
68 F eb 17
67
67
67
07
450 C op per R a ngo Con Co 100
66
673g
66% 66%
3i 2 S ep 28
1
3%
3%
415 D a ly -W e s t.......... ...............20
1
3l2
3*2
3%
3%
3*2
3*2
oi4 J ’ly 13
881 East B u tte C op M in .. 10
12
12%
11*2 11*8
12
12%
1t
1
1U2 11%
1
.20
.20
.20
SO
350 Elm R iv er______________ 12 .05 O ct 11
0 D e o 19
1
1
0*3
9*2
165 F r a n k lin _______________ 25
9
0
+9
9*2
*9
9*2
6 J ’ ly 26
634
6% 1.405 G irou x C o n s o lid a te d .
5
6%
6%
0-*4 634
0%
67g
»
1
20 J ’ ly 6
*37
40
39
39
85 G ra n by C o n so lId a te d .lO o
38
38
37
37
63g S ep 20
1
1
6%
678
6%
7
1.435 G reene C ananea_____ 20
65g
6*8
6%
7
1434 j o y lu
1
201’ 21
20*4 20% *20
21
150 H a n cock C on solid ated 25
1
20*2 20*2
134 O ct 27
*134
2
*1%
2
*1%
1%
15 H elvetia C o p p e r___ _ 25
178
Us
t
1
10 J ’ ly 18
11% 12
1134
11%
1138 1U2
425 In d ia n a M in ing___ . . . 25
11*2 11*2
1
1
Last Sale 32
Island C reek Coal . . .
1 30J4 D eo 8
*31*4 32
DCC’ 10
*31% 32
8414 N o v 7
88
83
Do
p r e f--------------1
88
88
83
83
235
1
1
13*2 M ay 3
16% 10%
*16*4 163,
163.1
17
10% 17
275 Isle R o y a le C o p p e r .. 25
*0 Sep l
1
1
67S 67g
684 0%
678
67s
5
6%
6%
125 K err L a k e___ . . . . . . .
3 J ’ ly 7
3
3
*3
3*’
*3
3*2
30 K ew een aw C o p p e r . . . 25
3*4
3*4
1
»
281? J ’ ly 15
33
33*2
33
34*2
32*2 33*8
34l2
35*4 2,097 Lake C op per C o _____ 26
6I4 D eo 30
1
»
634
6%
7
7*4
6*4
0*2 1,082 La Salle C o p p e r---------25
6*2
0%
4*2 M ch 8
7*2 8*4
l
*7*4
734
7%
8*2 1.115 Mass C on sol____________ 25
712 7*2
11
M ayflow er ____________ 25 .35 O ct 21
Last Sale .40
D ec’ ll
* .40
.50 * .40
.50
1
1
M exico Cons M <5j S . . 10 .01 N o v 15
Last Sale .03
N ov’ 10
- - -r
5
1
17 J ly 18
1933 193g
19% 19% *19% 19%
19%
19%
135 Miami C o p p e r________
1
25
3I4 D eo 3
3*’
3*2
3*2
31’
17C M ic h ig a n ____________
*3*2
334 *3*2
3%
1
t
M o h a w k . . . . ________
25
43 J ’ly 26
Deo’ 10
*45
46
*45
46
Last Sale 46*’
1
6
173.1 J ’ly 6
1
18*4
18*2 1.1-11 N evada C o n s o lid a te d .
18*4 18*2
18*s 18*2
18% 18*2
3*2 J 'ly 13
3*2
3*’
205 N ew A rca d ia n C op per 25
*3*2
4
*3
3*2
312
3*2
1
1
934 Jan 17
*10%
10%
5
897 N lplsslng M ines______
107g 11*8
11
11
1078 11
t
18 J 'n e jo
29
29*’ 3.853 N orth B u tte ................ 16
1
27
28*s
267g 27*2
27*2 29%
6*4 D eo 9
638
03g
60 N orth L a k e____ . . . . . 25
1
*6*8
6*’
6*2
6*2
*6*4
61’
1
6 S ep 7
Deo’ 10
O llb w a y M in ing______26
*6
6*2 Last Sale 0
*6
6*2
1
_
.25 A u g 0
O ld C o lo n y ____________ 25
1
Deo’ 10
Last Sale .50
* .50
.00 * .50
.60
29*2 J no 15
10C Old D o m in ion C o____ 25
3734 3734 *3734 -----•
*37
39
38
38
i
. . . 25 114 J ’ly 27
2-1 O sceola
127 130 +125 130
120
125% 128 *121
1
1
11 D e o 28
45 P a rrot Sliver & C o p . 10
11
11
11*2
11*2
*11*2 12
*11*2 12
»
25
6J J ’ly o
177 G u ln cy _______________
70
70
70
70
70
70
70
70*4
11
1
50 R a y Consol C o p p e r .. 10
18*4 18*.|
18*4 18*4 *18*4 18*2
i5«4 J 'ly 1
18%
18%
1
200 Santa Fe G old & C o p . 10
1*4 NOV26
*1*1
1*4 + 1*1
1%
*1*4
1%
U2
1*2
11
lo
8% J 'ly 6
475 S h a n n o n ____________
11*4 11%
11*2
11*2
11*8 11%
11*8 11*8
11
1
1 D ec 28
90 S outh U tah M & S . . .
5
1
1*8
*1
1*8
*1*8
1*4
+1
1*8
1
41
41*’
176 S u p e r i o r ..______________25
1
41*2 4U2 +4134 ____
38 J ’ly 10
40*2 40*2
1
5*2
534
645 Superior & B oston Min 10
43* D eo 2
5*2
5%
534
5%
5%
5%
1
1
14
14
13% 14
14
14%
9 J ’ ly 5
14
14% 5,223 Su p ertor& P ltts C o p p . 10
1
*51
____
*50
51*’ *50
50
61.
62
110 T a m a ra ck .................... 26
45*2 J 'n 022
1
5
5
4%
4%
4% . 4%
122 T rin ity.............................. 25
4*2 D eo 9
1t
412
4*’
1
34% 34%
313.1 36*4 *35%
34*2 34*4
30 D eo 7
35% 2,725 U S Sm elt R e f & M in . 50
t
47
47*i
47*4 47*4
47
47*.i 140%
Do
p r e f . . . _______ 50
4534 J ly 20
1
884
40%
1
1
2*8
2*’
*2*4
2*2
2 D eo 13
*2*8
2*2
*2*4
2*2
150 U ta h -A p e x M in in g___ ' 5
1
l
13
13
13
13
13*2 13*2
1
908 U tah C on so lid a te d ___
12*2 D e o 2
13*2
13%
♦44*4 4134
A3934 J ’ no30
■ 1
44*3 44*8 *44*’ 45
*44*4
4134
50 U tah C op per C o ______10
V ictoria ............................ 25
1
Last Sale 2*2
*2
2*2
*2
2*2
2 D eo 1
D ec’ 10
11
W in o n a .............................. 2 i
Last Sale 9*2
*3*2
912
5 J ’ ly 13
*8*2
9
Deo’ 10
1
1
118 118
115 117 *110 11,8
117
117
60 W o lv e r in e ______________25 102 J ’ly 12
1
1
*1*2
178
*1*2
1%
*1*2
1%
1%
1%
100 W y a n d o t ______________ 2">
114 J ’ly 26
a m a n d a . i j a priuj
1 N ew s to o x . o A « ’ t paid, o E x -s to c x d lv . /» E x -r ig n ti. a E x -d tv . a n a rignts.
11
1
I
Highest
Range for Previous Year
(1909)
Lowest
Highest
98 Jan
1231# Jan
104% Jan 7 10034 Jan
234 Jan 10 225 Jan
130% Jan 5 121% Jan
22/ Feb :L4 2231’ D ec
162 Feb
132*2 Jan
3 0 N o v 3 295 Sep
1134 Jan
16*8 N o v 18
76 A p r J
60*2 Jan
10 M ay
10*2 S ep 30
48 Jau 3
46*2 D ec
ICO D ec 0 143 Jan
118 Jan i
115 N ov
270 M ch Hi 267 Jan
1 3 0 ’ Jan 3 128*2 N o v
15 Jan
123 O c t :-7
79 Jan
90 O ct 14
218 D eo 21 195 O ct
IU 4 Jan
22L N o v lO
68*2 Jan
88% NOV 17
1623S Mch 14 A163 N o v
141 DCO 19 146 F e b
200 A p r
212 Mctl i6
200 Jan 7 19U D ec
26 A pr
4412 N o v 1
0U*4 M ch
116 Jan 6
106 M ch 2
97*2 A p r
204*2 Jan 3 rl72/« F eb
03U M cb
1033s Jan 3
168 Jan 17 165 Jan
88 Jan
95*2 M ch 8
109 F e b 10 102 O ct
125*8 O ct
108 J ’ne
239U A pr
135 D eo
235 M ch
153 NOV
301 Jan
22 F eb
771? N o v
14% M ch
66*4 O ct
162 J 'n e
123 J 'ly
275 M ch
136 F eb
103 D eo
88i’ S od
195*4 Jan
19 O ct
81 N o v
1747s j ’ne
149 A u g
215 Sep
200's Jan
40 J 'n e
117*2 A u g
107 A u g
2183.t AUg
117*4 A u g
176 A p r
98*s A p r
112 A p r
3314 Jan
4912 O ot 20
94 Jan
105 Sep 26
5% J an
8% F e b i l
13 Jan
24 F e b U
12733 M ch 2 r l!4 N o v
124 M ch
x\ 17 N ov
14373 N o v 4 125U F eb
2712 F eb
3912 M ch 19
931’ Jan
1U4*4 M ch 23
4% A p r
11*2 Jan 7
16*4 A p r
28 Jan 6
3)4 A pr
81’ Jan 11
1521; M ch 3 125 Jan
7 Jan
1163 Jan 3
292*2 N o v 16 245 Jan
160i2 Jan 6 1503g Feb
69 Jan
0l3s N o v l6
97 Mpn 18 89 Jau
226 N o v 14 202i2 Men
2 Jau
634 M aylO
68 A p r
124 Jan 3
93 Jan
115 Jan 11
13834 D eo 14 128*4
75 F eb
100 Jan 5
200 F e b 11 108 Jan
<j% Jan
14 O ct 3
10934 Jan 10 io o Jau
20*2 M ay
37 D e c 12
2414 Jan
31 M ay 6
200 S ep 10 126*2 Jan
7134 A p r 18 *64 M ch
28*2 Jan
31 Jan 4
4134 F eb
90% Jan 3
12533 Jan 6 107 F eb
6*8 Jan
l'j% S ep 30
70 M cb
04 Jan 3
60*4 A u g
105 J ly
07s F eb
221? N o v
136 A p r
131 A p r
145*8 Sep
40*8 A u g
108 J ’ no
121’ Sep
31*2 A u g
8I4 O ct
147*2 N o v
137g J ’ no
260 A p r
173 A u g
8334 D eo
97 A p r
220*4 D eo
3*4 O ct
125 O ct
118 O ct
139 Sep
108 O ct
109 A u g
12 Sep
114*2 A u g
34 D eo
35 N o v
170 D eo
71 O c»
3H4 S ep
U478 O ct
131 O ot
19 D eo
96 D eo
10 F e b 1
1434 Sep 15
58 F e b 26
ou% Jan 3
40i2 Jan 3
6OA4Jan 3
l2i4 Jan 14
.70 M ch 2 2
24 14 Jan 13
ISI4 May25
28% J an 3
103 Jan 3
085 Jan 3
38 Jan 3
.10 Jan 10
85 Jan 3
9 5jiMch28
11 N o v 14
2i2 F eb 18
22i2 M ch 9
12i 2Jan lu
11114 Jan 3
11% Jan 3
36 Jan 12
678 Jan 4
4434 M ch 0
3334 O c t 29
90 N o v 26
28i2 Jan 3
11 Jan 6
6S4Jan 14
94*2 Jan 22
10 Jan 14
105, O ct 13
l% J a n 13
6 Jan 7
29. Jan 4
8i 2 Jan 21
75 Jan 22
27*2 Jan 11
10% Jan 12
12 M ayz5
60 Jail 3
257g M ch 7
1234 Jan 14
134 F e b 1
65 Jan
168 Jan
21% Jan
02 M ch
2434 M ch
234 Jan 3
18 Jan 3
334 Jan 10
O8I4 Jan 14
18 Jan 12
10% Jan 10
78 Jan b
113a Jan
65 Jan
63*8 Jan
514 Jan
48 Jan
C0i2 Jan
534 Jan 14
15 Jan 14
150 Jan
834 Jan 14
47g O ct
34
65
23
30
Jau
F eb
M ch
Feb
8
J iy
10i2 M ay
.45 F e b
17*8 J ’ ly
b Sep
213g F eb
96*4 M ay
685 F e b
29 F e b
.10 J 'n e
68*2 F eb
7i 2 M ay
7*2 F e b
1 O ct
13 F e b
73a J ’ ne
90 F e b
9 F eb
8*4 Sep
6*2 Deu
02 O ot
0612 N o v
40*2 D eo
6134 D eo
18 Jan
.80 M ay
24 D eo
11*4 D eo
335s N o v
119 Jan
695 A u g
44l2 Sep
.35 Jau
863,1 N ov
12 Moll
1658 A p r
2*2 Jan
19 A u g
12*4 N ov
110*2 D eo
145g N ov
38 D eo
7% A u g
22is Apr
7*a A p r
2*2 May
16 Jan
10% J ’ly
414 M ch
;io A p r
3*2 A p r
1234 F eb
6% O ct
*57*2 J i y
16*2 Feb
3*’ N o v
9% O ct
47 D eo
4ig M cb
534 N o v
.40 J 'n e
47*4 Feb
122 F eb
10 D ec
83 D ec
33*4F eb
9% A u g
e7% D eo
74*4 Deo
19*8 D eo
18*4 M ay
1 Ded
6 N ov
28*s D eo
13i4 M ch
70is Jan
30 N ov
8% D eo
13 Sep
85*4 Jan
IDs A u g
1412 D eo
.90 D eo
69 A u g
170 D eo
36*4 J ’no
99 Jan
2% Jan
l i 2 N ov
13*2 Feb
177a-Jan
34
67
Jan
13*8 N ov
1278 Apr
02 J ’ ly
9*4 Deo
39 F ob
44 Jan
4 O ot
37*4 Feb
39^4 Feb
3 O ot
4)4 A p r
139 Mch
2 O ot
D eo
18*2 M a y
18*2 J ’l f
F eb
I76g J a n
69 Sep
00
64
O ot
6*4 J a n
4934 N o v
60
0
N ot
D e«
,13l4 DeO
158 A U g
4
Jan
Dec. 31 1010.]
Boston Bond Record
B O ST O N S T O C K K X O H ’ U E
W eek E nding D eo 30
T rice
F n dau
D ec 3<>
« !
ask
/C o .
W eek's
R ange or
Last s a le
Low
113
lo ® 1 S in ce
'J an u ary
Utah.
1759
BU N DS
'• B O ST O N ST O C K E X C U ’ U l
W eek E ndinu D eo 30
11
-------------------------------- -----------------
A m A g rio u lC h e m 1st 6 s ..1 9 2 8 A .O 1 0 2 4 Sale 1102 *4 102 4!
A m T eleu * 'Tei coll tr 48.1929 j - j
90s* s a le I 9 0 V
90V
C o n v e rtib le 4a......... ......... 1936 M-S 105*4 lOo^j IO 434 D e c ’10
A m W rit P a p e r la t s ID sg 1919 J . j
.................... 1 8 7 a. Sep ’ 10
A m Z in c I . A S deb 0 a .. . . 1 9 1•> M-N ..................... 108 D ec ’ 1.0
A riz Com C op 1st c o n v 6s 192u j . d
87
90 I 87
87
A ten T on A S F e g e n g 4 s .. 1995 A -O
99*4 993«1 i'B3* D e o ’ 10
A d ju s tm e n t g 4 s ___ J ’ ly 1996 N o v 1 91*2 01»4 9 0 * s N o v ’ 10
S t a m p e d ................ J ’ ly 1995 M-N!
91 *2 9 1:*4 9Uas D e o ’ 10
5 0 -y e a r c o n v 4 s .............1955 j . d ..................... 102 4 J’ l y ’ K)
10-year c o n v 6 s .............1917 j . d
..................... 10s **, N o v ’ 10
A tl G lut A W I S S D in e s 5 s .’ 59 j - j
......... 63*2 68*2 D e o ’ 10
B oston M e e t 1. oou soi 6 s .1924 M-S ..................... 110
i’ e b ’ 0 4 1
B oston A D ow ell 4 s ........... 1916 J . J ..................... 100*4 M ar’09
B oston a M aine 4 4 s .......... 1944 J -J ..................... 104 Sj Oot ’0 8 1
B oston T erm in al 1st 3*28.1947 F-A ..................... 112*2 Jan ’ 03'
B u r A M o Itiv co n s 6s . . . 1 9 1 8 J -J .....................103 F e b ’ 10
B u t t e d B oston 1st 6 s ___ 1917 A-O ..................... 100 J ’ n e ’01
B u tto E lec A P o w ls t g S s .1 9 5 1 j - D
Cedar Bap A M o N is t 7 s . 1916 M-N
113-2 .Moy’ 10
C en t V erm t 1st g 4 s ..M a y l 9 2 0 y . F
87>y D e o '10
O B A y Io w a D iv 1st 58.1919 A -O
11103 O ct '07
Iow a D iv i s t 4 s .................1919 A -O
98 *2J ’ n e’ 10
101 *4 M ar’ 10
D eben tu re 5 s ......................1913 M-N
99 *2N o v ’ 10 .
D enver E x t e n 4 s .............. 1922 F-A
99*4 100
N ebraska E x teu 4 s ......... 1927 M-N
99 M ar’ 10
B & 8 W 8 f 4 s .................. 1921 M-S
99 O ct ’09
8 7 34 D e c ’10 . . . 8 6 V 8 3 V
Illin ois D iv 3*28................ 1949 J - J
O h lo j o B y A Stic Yds 6 s . 1916 J-J 101 Sale 101
101 I 6 100 I O P 4
90*4......... 90*4 D e c ’ 10 . ,..|| 89
C oll tru st refu n d in g g 431940 A-O
-9934
Cb M il * S t B D u b D 6 s .. 1920 J - J
T 1 3 a* D eo 101. ,.J 113 V H o *2
Oh M A S t P W ls V d iv 6 s l9 2 9 J - J ..................... 126 F e b '0 5 '. ..II.....................
Ohio A N o M ien 1 st gu 5s. l 9 3 l M-N
.......................... i 99-4 D e c ’ 10
,..|| 99 100*2
Ohio & W M id i gen 6 s . . ..1 9 2 1 1 J -D
................... 101 D e o ’ 10!. ..! 100 104
Con cord A M on t con s 4 s ..l9 2 o | J -D
91 D eo ’ 07
Oonn A Pass B 1st g 4 s ... 1 9 4 3 'A-O
112*4 Jan ’ 03
Cudaliy P a c k ( T h e ) l s t g 5 s l 9 2 4 M-N
100*4 A u g ’09
Current u iv e r 1st 6 s ......... 1926 A -O
99 A D r’ 10
99
99
D e tO r Blip A W 1st 4 s . .. 1946 A-O
83 D e o ’ 10
88 90
D om inion Coal 1st s t 5 s ..1 9 4 0 M-N
96
93
96*2 J ’ n e ’ 10 .
96>a 9834
F itch b u rg 4 s ........................ 1916IM-S
103 *s A p t ’ 06(.
4 s ......................................... 1927 M-S
..................... I 96 A p r ’ 08 .
F rom t E lk A AIo V 1st 6 s .. 1933! A-O ..................... 127 *4 D c o ’ 10'.
127*4 127*4
U nstam ped 1st 6s........... i9 3 3 iA -0
..................... 140
A p r ’ 05|.
G t N o r C 14 A <4 c o ll tr 4s 1921! J - J I 95*2 95V! 9534 953^1
|‘ 94*0 "o*7*V
B ey ls torod 48.................... 1921 y - J
9 5 * « ......... 96*2
95 4
9 4 V 96*21
1~ 6 i
T r ie
F riday
D ee 3 0
Week's
R ange or
Last s a le
|i
3 ^ ; h a n ge
g o I Since
*a J||J a n u a r y 2
H iy d s o , L o w Digit.
Hill
ASK Low
Illin o is Steel deben 5 s ___ 1913 A-O
6 i 99*2 101
100 *8100 *4 100 4 100*4
l a F alls A S io u x C i s t 7 s .. 1917 A-O
117 A p r ’ 08
K an C Clin A S pr 1 st 5 s . . . 1925 a O'
93 *s M ai MO " j | " 9 3 ^ * 9 7 '*
K an O F t S A G u ll e x t 5 s .. 1911 j - D 1
9 9 34 F e b ’ 10 . . . I 9 9 '*4 99V
K an O F t S co tt A M 6 s . ...1 9 2 8 M -N ‘ 116 Sale 116
116
14 113
118
K an C M A B gen 4 s ........... 1934 M-S. ......... 93*2 93 O ct 10 ~J| 62*2 93*2
A s s e n te d in co m e o s ........1934 M- S
89 H. 90
D ec M0| . .. . 90
92
K an C A M B y A B r 1st o s l9 2 9 A-O
102*2 N o v ’ 10' ..J 102 103
M aine c e n t con s 1st 7 s ...1 9 1 2 A-O:
II
C ons 1st 4 s ........................1912 A -O 1
1 0 1 4 Sep ’ 05 . . . J .....................
M a r o 'H o u g h A O n t 1 s t 6s. 1925 A-O ................... 115 J’n e’OS
M ass G as 4 *2S .....................1929 i j J
99
99S, 9 9 V
97 100
99V
M ich T e le p ls t 5 s ................191 7'J- J
97 A ’j g ’ lU
97
99 4
M ln n e G en K lee c o n g 5s 192'j! j . J
102 4 A llg'04 :m l
N e w K n g C ot Yarn o s ___1929; F-A
IDO3. i 2 ;100*8 ii)5
100 Sale 100
N e w E n g T e le p h 6s ...........1915 A-O
l o o v D e c ’ 10
100V 100V
...................................... 1916 A-O
100 *2■'sep ’08
[N e w E n g la n d co n s g 5 s ... 1945 J - J
•::*i
i B oston T e r m 1st 4 s .........1939 A-O
_____
_____ 1. . . .1
N e w B iv e r (T h e) c o n v o s . 1934 J - J
......... 75
75 O ct MO
75
794
N Y N H A H. c o n d eb 3 *281956 J -J
l o o v D e c ’ 10
90 V 102
C on v d eb 6s ( e t t s ) .......... 1949 J -J 133 V Sal.) 133 V 133V " 9 131
130
Old C olon y gold 4 s ..............1924 F-A
101 A p r ’09
...... . .....
O reg B y e s N a v c o n g 4 s . . 1946 J .D
98 V S e p ’ 09
O reg Sh D ine 1st g 6s ........1922 F-A
114 D e o ’ lu
in v n ev
P e r e M arqu ette d eb g 6s . 1912 J - J
99 M ar’ ll)
9 8 4 99
B e p u b V a lley 1st s t 6s . . . 1919i J . J i o s T I I I ! " 103 *8 S ep MO
10341034
R u tlan d 1st c o n g e n 4 *28.1941 J -J
107*2 .Nov ’ 05
B utland-C anaillan 1st 4s 1949 J - J
102 M ai’ 02
Savannah E lec 1st c o n s ds.1952 J . J
7 0 4 D e o ’ 10
7 0 4 184
Seattle E leo 1st g 5 s ......... 1930 F-A i '034 m m 104 V D e o ’ 10
103 1 0 4 4
S lia n n o n -A n z 1st g 63. . . 1919 m .N
95
9 6 4 97 N o v ’ 10 . . . . 83 110
T e rre H au te E le c g 6s ___ 1929 J -J
97 A p r ’ 07
T o rrin g to n 1 st g 6s ........... 1918 M -s
1003, j i a r ’ 10
l iu o v i o o v
U nion P ao B B A l g r g 4 s . i 0 4 7 J - J
1003
4 D ec MO . . . . 1 99 V 1 0 1 4
20-year c o n v 4 s ................. 1027 j - j
104V O ct MO
104 V 109V
U nited F ru it g e n s t 4 *28.1923 J . j m i l l * 0 7 4 97 4 D e o ’ li
95 4 97 4
U B C oal A O u 1st s f 6s . . 1938 M-N
166 N o v 10
145 169
U S Steel C orp 10-60 y r 6s . 1963 M-N
104*8 D e o ’ 10
101 4 1054
W est E n d S tre e t B y 4 s . . ..1 9 1 6 F-A ....................
98*4 J ’ly M o1.‘ I l l 1 97
984
G old 4*23..............................1 9 U M -s
101 a4 j ’ ne’ ()9
G old de b e n tu re 4 s........... 1916 M-N
9 8 4 A p r ’ 10
984 994
G old 4 s ................................. 1917 F-A
98 D ec MO
97
99
W estern T elep h A T e l 6 s . 1932 J -J
3 94 4 99
96V
96V
W isco n s in C en t 1st gen 4 s l9 4 9 J - j
4**8
94 V J a n ’ lu
N o t e —B u yer pays aoorued in te re st in a d d itio n to the p u rch ase p rico fo r a ll B o s to n B onds.
» N o p rice F r id a y ; la te st bid and a sk ed .
11 F la t p rice .
Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Yearly
S h a r e P r ic e s —N ot P e r C e n tu m P r i c e s
S atu rd a y
Deo 24
M on d a y
Deo 20
J
:
•
;
{
!
i
!
W
M
Q
P
b
©
Q
O
CO
;
:
s
;
T u esda y
Deo 27
16 V
M
C0
*4
424
424
* 11V
473,
333,
79V
03
w
O
F
H
2 8 a*
93
89 V
64
484
16*8
13*8
74*ia
81
4 i a*
85a,
0
;
•
I
;
;
--------*:----------
PI II DADE DP 111A
I n a c t iv e S t o c k s
\ Bid
1
I
1
1
1
)
l
1
)
1
1
1
i
|
*
.........
*125
*20
♦42
Q
g
1W ednesday
Dec 28
644
126
’.*20
___
44
16 V 1 6 4
42 4
42V
42**
42 4
n v
♦nv
484
474
33*2
33V
7938
79*V
*8*2
28V
93
93
89 4
89V
04
64 *s
4u4
49 4
164
16 4
1 8 ‘g
18 4
74-2 74*la
8-*
84
43
43
86
86 V
A sk
64 4
90
12(5
•*2 v
42 2
n a4
48
34 4
80
94
29
93
99 4
64 4
6030
lb**
l«4
74 4
8*4
43
86
T h u rsd a y
Deo 29
R an ge S ince
Sales
A C T IV E S T O C K S
Jan J
----------------- 0/ the
F r id a y
! W eek ( F o r B o n d s a n d In a ctiv e •
Stocks see belo w J
| Low est
Deo 3 0
Shares
H igh est
.................
*64 *2 65
| H igh est
.........................*80
90
...................... *125 126
19*4 19*2 *20
21
43
42*2 42-2 1-42
16 V 16*2
1 6 V 16 V
! *17
42
42
42
42*2
42*4 42*2
11
*11V
48*2
48*2
48
33»4
34
34
79*8 80
79 V
*8*2
' 8*2 9*2
29
29 *a
2‘J V
93»4
93*4 53*4
U0 ‘a 90V *87**18
64*8 64»io
64*4
503,
50*4 60V
16 *8 10*8
16*8
18 *2
18*4 18V
71V 75*18
75V
8*4 8V 3S31«
43
43
43
86*2 8 0 V *S5 4
......... lA m e n ca u C e m e n t.......... 60 17 D e c 22 28 Jan 3
2 16;.Am erican B a ilw a y s___ 60 4l a, J ’ ly j i 50 Jan 6
351 C am bria S t e e l ................. 50 40*4 J ’ly 26 53 *2Jan 10
......... E le ctrio Co ol A m e r ic a 10 l i ‘* J ’iy 2 9 ! 12*2 Jan 14
410 E le o Storage B a tte ry ., l o o
42 J ’n e i o 164-4 M a t 'll
19*4 J ’ly 20I 3 1 V D eo 15
1,80 j G en A sp h alt tr c t i s ___ 100
1,1*5
D o p r e l t r c t f s ___ l o o
64 J l y 26 s 4 *4j an 10
......... K e ysto n e T e le p h o n e ... 60
7 J ’ly 6| 13 i a n to;
4,140 i.a k e s u p e r io r C o rp ___ 100
1 a V J ’ne.lo, 2 9 V Dee 29
491 D em gh C A N a v t r c t l s . 60 86 J ’ ne3o 123 J a n 7
9,032 L eh igh V a lle y ................. 60 62 *a J ’ly 27 121*4 M a r ls '
1,439 P en n sylva n ia H U ......... 50 61u i g J ’ly2U (iUMo it ar y
4,434 P ln ladelp’aCo ( P itt s u ). 60 42 J ’ ne3d 6 3 ‘4 Jan a
4,045 P h iladelphia Eleotric[|. 26 113 V *' e o 3 16*4 .M arla
1 ,9 30 Phlla B a p ld T r a n s i t ... 60
15 A p r 28 2 a *2 Jan 3
7,065 B e a d in g ........................... 5o
65*2 J’ ly 2 0 86 L-'eb lo
1 ,9 16 T on opali A lin in g .........
1 0 V J an 2 - 9 i i 8M a y l3
1,699 U nion T r a c t i o n ............. 50 38 O ot 24 523, Jitu j
1,817 U nited G as I m p t........... 60 79 J ’ly 20 b o V J a n l o
*nv
P l l 1D A D E D P II1 A
20
42
42*2
n\
48*2
34
79»<
9*2
29*2
03 “4
8a *8
e iv
51*8
16*4
18*2
75 V
8®i«
43S.
86a*
| D id | A s k
w** t o 411*0
-------------C 011A c o i tr 6s 1951M -N
.L’hll Eleo gold trust. nrt«
T r u s t c e r tifs 4s
■ — — p — — -i g ’ 2 0 . A-O
G en M 4s g 1 9 2 0 ..A A o
Pliilndelphla
P 1 1 ID A D E D P I1 1 A
P h & B ead 2d 6s '3 3 .A .O
C on M 7s 191 1.......J -D
E x Im p M 4s g ’ 4 7 .A -U
T erm in a l 5s g 1941. y -F
P W A B co l tr 4 s ’ 2 1 .J-J
P o rtla n d B y 1st 5s 1930.
B ooh By A D c o u o s ’ d lJ -J
S p a n ish -A m I r 6a ’ 27 J-J
S tau ’ d G a s A E 6 s ’ 2 6 M .N
U T r a c In d g e n Os’ iu .J -J
U u B y s T r e lls 4s’ 49J A J
U n ited B y s In v 1st c o il tr
s f Os 1 92 6................. Al-N
U T ra o P it gou 5s ’97 J-J
W elsbacJi s I 6s 1 9 3 0 .J-D
W lk s -ll U A E c o n 5 s ’55J-J
| D id
\A s k
25 D ec
4 1 V J 'ly
32 V Feb
* 10 v J a n
43 J an
15 *2Jan
53 Jan
9*2 Jau
1434 J an
96 Jan
Of
Feb
63 *8 Feb
49*2 Feb
1 1 *4 Fob
24 V Jan
69 *2 Fob
63, .Jan
60 V Jau
84 V -May
BADTDW OKE
‘
101*2
i
6
J25 paid. «$30 paid,
43 Jan
48 D eo
49 V Deo
12 v J ’ ly
63 *2J ’ly
33*4 Deo
84 V D eo
id A pr
33 V M ay
125 *2 D eo
113 s e p
75 V s e p
5 1 V D ee
14 *8 D eo
36*2 A p r
SO’* Sep
7**j0 Alar
58 V May
95 *2D eo
D id | A s k
Chas B y G A El 6s ’ 99 ADS
Chari c A A 2d 7 s ’ 10 A-U
C ity A S u b 1st O s.. ’ 22 J .D
C ity A S u b ( W a s ) ls t 6 s ’ 48
99 *a 1O0 Coal A 1 B y 1st 5 s ’ 20 F -A
Col A U rn v ls t 6 s .l9 1 6 J - J
*98*4 b"j**2 C onsol G as 6 s ..1 9 3 9 J-D
101*2 101*4
C tfs in d e b t 4*28....... J-J
10030 ..
C ons G E A P 4 ws ’ 3 5 . J J
F a ir A C iT r i s t 6 s ’ 3 8 .A -0
76
G a A A ia i s t con 6s ’ 4o3 -J
G a C a r A N l s t 5 s g ’ 29J -J
83*»' 83*2 G e o r g ia P 1st 6 s . . . ”22 J-J
G a s o A F la 1st 6s 1945J-J
8 7 v : : : : : : G -B -S B rew 3-4s 1901A1-S
lo i
2d in co m e 5s 1961 M -N
BADTDHUICD
K u o x v T r a o l s t 6 s ’ 2SA-U
l ii a c t iv o S t o c k s
D akeB E l 1st g u o s ’ 42Al-S
A la C on s C oa iA lio u .lO t)
Alacon B y A D t ls t 0 s ’ 53J-J
P r e t .................
100
A lem plns s t 1st 5s’ 46 J -J
A tla n ta A C h a r lo t t e ..lo o
A1 etst ( W a s h )ls t 5 s ’25 F A
.........
A tla n c o a s t D (C on n )loo|
230
Alt V e r C ot D uck 1st o s .
C anton C o ..................... 100 i 15** 121
N pt N A G P 1st o s ’ 33 Al-N
C ons C ot D u ck C o r p ..,5 o
6a*
7 4 N o r A P o r T r l s t 6 s ’ 36J -D
P r e f e r r e d .....................50
22 4 23
N o rlo ik St 1st 5 s ’4 4 . . J J
G e o rg ia S ou A F l a . . . l o o
30
35
N o rth C en t 4 Vs 14)25 A -O
1 st p r e f.......................l o o 95
VI
S e n e s A 6s 1 9 2 6 .. .. J-J
2d u r e f........................ l o o 7u
75
Series B 5s 1 92 6___ J-J
G -B -S B r e w in g ........... 100
1
1 4 P itt Uu T r a c 5s 1997.J-J
B on ds
P o l o Val 1st 6s 1 9 4 1 ..J-J
P r ic es a re a il •* a n d
Sav F l a A W o s t 5 s ’34 A-O
in terest.”
S cab A B on n 5s 1926-J-J
A n a o o stia A P o t 5 s ........... 100V 101
S outh B o u n d 1st 6 s ..A -O
A t l C oast D (C t)ctfs 5s J-D 103
U El D A P lst4 *2S ’ 2‘J M -N
C tls o f in d e b t 4s ....... I-J
U n it y A El 1st 4 s ’49 Al-S
6-20 y r 4s 1 92 5......... J J
In co m e 4s 1 94 9........J-D
**9*d" m i n i
B a lt C P ass 1st 5 s ’ l l M -N l o o
F u n d in g 6s 1 9 3 6 ...J-D
100*8
B a lt F u n d g 6 S .1 9 1 6 M -N 104
1 0 4 4 V a M id 2d se r 6s M l.A l-S
E x ch a n g e 3 *as 1930 J •J
3d s e n e s 6s 1916..A1-S
02 4 93 4
1 4th ser 3-4-5s 1 9 2 1 .M-S
B a lt A P l s t C s m l ’ l l A-O 100
B S P A C 1st 4 *28 ’ 5 3 F -A
5th series 5s 1 9 2 6 .M -S
94 4 943*!
B a lt T ra o 1st 6 s . . ’ 29 AI-N 107 4 I 0734! V a (S ta le ) 3s n o w ’ 3 2 .J-J
N o B a lt D l v 6s 1942 J-D 109 4 n o
F u n d d e b t2 -3 s 1 99 1.J.J
C en t’ l B y co n 6 s l9 3 2 M -N , 106 110
W e s t N O c o n 6s 1914 J.J
____ W e s V a C A P l s t 6 g ’ l l J J
E x t A Im p 5 s .1932 M -S 105
Chas C ity B y 1s t 5 s ’ 23 J -J 100
W ll A W e ld 6 s ..1 9 3 5 .J-J
101
•Bidami asked; nosales onthis day. UEx-riPhts. Unspald. t $12*4 paid, t $13 >2 paid. 4$35 paid, a Beceipts.
Lowest
B a lt im o r e
,
21 Con. G as EL. D. A P o w .1 0 0 46 M ar21 6 4 4 D e o
8 30 Mai 48 D eo
*••••*,!„
l’ ™ 1..................... 10*1 80 M a r l l 90 J ’i y U
76 Marl 89 M ay
omm i ? 01-11*®1-1* C e n tr a l.......... 50 115
Jan > 132
F e o 2 8 100 Jan 121*2 D eo
20 ) Seaboard (n e w )................l o o l e V J ’l y l o 27 4 Jan
J 1 l a4 Fob 23*« Doo
22*4 Feb 48 D eo
17A0 U
H nited
i\>0! B
u y" Al'vE
^ le..............100
1,750
c t r io .. 60 40
lJ V M° ac ty 17
3 l 647
4 D eJuu
c2 9 »
t'eb 14*2 D eo
B on ds
.........
lhrices a re a ll “ and
.........
in terest."
*4 m m
A lt A DV Eleo 1 *28’ 33.F -A
.........
A m G as & E lec Sa’07. F-A
8 2 V 83
.........
99
A in B y s o o u v 6 s 191 1.J -D
44*2 *454 A tl C ity 1st os g ’ 1 9 .M -N
.........
B o r g A E B r w l s t 6 s ’ 21 J-J 100
.........
B otlu e Steel 6s 1 9 9 8 .q -F 116 118*2
........ . . . . . . C h o c * A lo ls tO s 1949 J-J 108
.........
C h U k J i U gen 5 s ’ 19 J-J 102*1
.........
C o u T r a o o f N J 1st 6 s .’ 33
.........
E A A 1st A1 6s 1920 M .N 107
.........
E leo A P e o T r atk tr otls
87H,
20 ”204 E q i l Uas-D 1st g 5s 1928 106
.........
In dian ap olis R y 4 s. 1933
In
te
rsta
te
4s
1943
..F
A
*64*a
84 94
30
34 K e y s to n e T e l 6s 1035.J-J 80*4
U o u ig n N a v 4*28 ’ 14.Q -J
03*
B its 4s g ........1 9 1 4 .y - F
04
18*2 19*4
G ou M 4*28 g . l 9 2 4 .y - F
Deli V C 1st 6s g ’ 3 3 ..J -J
Dell V oxt 4s 1st 1 94 8.J-D
Consul 6s 192 3........J-D
C on sol 4*23 1 9 2 3 ...J -D
ili# " 126"
A n n u ity Os...............J.D 148V 149
07*4 0 / V
G en c o n s 4s 2U03.ADN
Deli V 't’ran con 4 s ’35J .l)
110
! st series B 6s 1936.M -S
N ew Cou G as 6s 1948 J -D
N e w a rk Pass oon 5s 1930
4 2 4 423* " Y Pli A N o 1 s t 4 s ’39 J-J
In co m e 4s 1 9 3 9 ...M -N
*83 4
N o o h io T r a c e o n 5 s’ 19.J-J
Pen n C ons 6s 1019 . . Var
Pen n a Aid s t e e l co n 6s.
Pa A N Y Can 5s ’ 39. A-O
m m
Cou 4s 1939............. A-O
L ittle S c h u y lk ill........... 60
M ln eb ill A S cliu y l 11..60
N H aven Iro n A s t o o l.6
N o ilh e r n C en tra l......... 60
N orth P e n n s y lv a n ia ..60
P e n n s y l B it r e c o lp t s ___
P en n s y lv a n ia S ait........60
P en n s y lv a n ia a ie e L .1 0 0
P r e fe r r e d ................... 100
P h lla C o (P itts ) p r c f...6 0
Ph il G erm an & N o r r is .50
P h ila T r a c tio n ........... ..6 0
R a ilw a ys G en era l........10
B u squon I r o n A S t e e l..6
T id e w a ter S te e l........... 10
P r el e r r e d ..................... 10
U n ion T r ot I n d ......... l o o
U n ited N J R R & O ..I O O
U n it T r a c P itts p r e f..6 0
W a r w ic k I r o n * S t e e l .l o ’ Y d " *10 4
W e ls b a c U C o ................. 100
39
41
W e s t J e r s e y & S e a S h .6 0
W ostm orelu u d Coal ....60
W ilk e s Gas <» K l e c . .l o o
R ange fo r P reviou s
Y ea r(1 9 0 9 J
94
96
105
102
102
106
108
105*4
102*2
102*2
107
108*2
84*,
96*4
105
105
113
107
43
6
102
102*2
95
97
107
74*2
96
82*8
105
106
no
n o
102 v
108
110
106
85
96*2
105*2
106*2
116
109
43»*
6
104
105
96
98
UO
74V
82*2
167*2
108
no
92
03
84*4 85
6 1 34 62
813, 85
100 V 1 0 0 4
108
104
105
88
89
38
89
105 V 1 0 6 4
100*4 100 4
no
112 .
d$42 4 paid.
T H E CHR O N IC LE
1700
Bid Ns4
E lectric C om pa n ies
Chicago Edison Co—dee Ch caso list
Gr’t West Pow 5s 1946..J-J
8 5 '; 87
e Kings Co El L A P C o. 100 125 127
Narragan (Prov) El C o ...5 0 *Z$J
01
N Y A Q El L A Pow C o. 100
40
50
Preferred____________ 100
70
80
United Electric ot N J . . . 100
75 ___
1st g 4s 1940................ J-D
76
77
4112 42*2
Western Power com ____100
Preferred .......................100
63*2 6U 2
Volume of Business at Stock Exchanges
TRAN SACTIONS AT 1'Uli NEW W i l l i STOCK EX CH AN G E
D AILY , W EEKLY A 4I> Y E A R L Y .
Slocks.
Week ending
Deo. 30 1910.
Shares.
Saturday ---------------Monday ____________
'Tuesday_____________
Wednesday ________
Thursday____________
F rid a y ________ _____
273,578
239,539
201,870
300,604
T o t a l........................
1,105,630
Total bonds_______
V . S.
Bonds.
Slate
Bonds.
H O L ID A Y
IIOLI D A Y
$24,764,550
S2.065.000
1.730.000
21,656,400
3,103,500
25,567,900
2.308.000
25,625,100
S143.000
102,000
311.000
204.000
3500
500
39.296.500
3760,000
31,000
397,613,050
Jan. 1 to Dec. 30.
Week ending Dec. 30.
Sales at
New York Stock
Exchange.
Stocks— No. shares___
Par value_________
Bank shares, par_____
Bonds.
Government bonds___
State bonds_________
R R . and mlsc. b o n d s..
Railroad,
&c..
Bonds.
Par value.
1910.
1909.
1910.
1000.
165,061,924
214,632,194
3,700,724
1,105,680
397,613,050 $349,256,100 $14,721,499,225 $19,633,970,150
$1,103,130
342,800
$425,250
52.000
31.000
763,000
9.296,500
$10,0571500
3261,000
23,887,500
$21,148,500^
$361,700
42.43J.550
510,849,700
3771,200
37,115,700
1,270,404,100
$633,650,9501 $1,317,291,000
D A IL Y TRANSACTIONS A T T H E BOSTON AND PH IL A D E L P H IA
EXCH AN G ES.
Philadelphia.
Boston.
Week ending
Dec. 30 1010.
1
I.Uted
shares.
Unlisted
shares.
Saturday____________
Monday_____________
T u e sd a y ____________
Wednesday__________
T h u rsd ay___________
Friday _____________
8,673
11,313
12.087
12,224
7,642
4,767
6,740
5,530
Total ......................
45,107
24,088l
Bond
sales.
Listed
shares.
Unlisted
shares.
Bond
sales.
HOLI D A Y .
HOLI D AY.
$30,500
10,609
13,056
22,200
50,000
13,981
23,667
20,500
6,840
4,285
10,101
7,241
$68,000
63,000
115,750
180,325
61,313
28,527
$430,075
$132,200
Outside Securities
All bond prices are n o w "a n d Interest" e x c e p t where m arked " f . ”
Bid
Street R a ilw a ys
New York CUg
8
Bleeck St & Ful Fy stk. 100
58
1st mtge 4s 1950........... J-J
B ’y A 7th Ave stk........... 100 120
98
2d mtge 5s 1911.......... J-J
Con 5s 1913— See Stock Exc
B’way Surface 1st 5s gu 1024 102
__
Cent'! Crosstown s t o c k .. 100
80
1st mtge 6s 1922------M-N
10
Cen Pk N & E Itlv stock. 100
82
Christoph’l A 10th St stk 100
Col & 9th Ave 53—See Stock Exc
D ry Dock E B & B—
95
1st gold 5s 1932........... J-D
30
Scrip 5s 1014............... P-A
Eighth Avonue s to c k .-.1 0 0 250
95
42d A Or St F’ y s to c k .. 100 250
42d St M A St N A v o .. . 100
2d Income 6s 1015____ l-J
Intor-Met— See Stock Exch
Lex Av A Pav F 5s— See Stk
Metropol St R y — See Stk
Ninth Avenuo stock____100
Seoond Avenuo stock— 100
1st M 5s '00 ext ’ 1 0 .-M-N
Consol 5s 1918_______ F-A
t Sixth Avenue stock— 100
Sou Boulev 5s 1015------J-J
SoF er 1st 5s 1910........... A-O
Third Avenue R R — See Stk
Tarry W P & M 5s 1028..
Y'kers St R R 5s 1916 A-O
33th A 29th Sts 5s ’9 6 ..A -O
Twenty-third St s to c k .. 100
Union Ry 1st 5s 1042___F-A
Westchester 4st 5s '43 J-J
Brooklyn.
Atlan Avenue R R —
Con 5s g 1931_______ A-O
B B A W E 5s 1033____A-O
Brooklyn City Stock......... 10
Con 53—See Stock Exch
Bklyn Hgts 1st 5s 1041 A-O
Bklyn Queens Co A Sub—
e 1st g 5s '11 op 1916 .J-J
e 1st con 5) '41 op '16 M-N
Bklyn Rap Tran— See Stock
Coney Isl A Bklyn_____ 10C
1st cons g 4s 1948____J-J
Con g 4s 1055............... J-J
Brk C & N 5s 1939. ..J -J
Kings Co El 4s—See Stock
Nassau Elec pref............. 10C
53 1911......................-A-O
1st 4s 1051— See Stock
N W ’b’g * Flat 1st ex 4 Hs
Steinway 1st 6s 1922— J-J
Other elites
Buffalo Street R y —
1st consol 5s 1031____P-A
Deb 6s 1017................A-O
Columbus (O) St R y ____100
Preferred......................100
OOlum Ry eon 5s— See Phi
Orosst’n 1st 53 1 9 3 3 ..J-D
t Conn lty A Ltg c o m .. . 10C
e Preferred ......... ........ 10c
1st & ref IH-s—See Stock
Grand Rapids Ry pref..10C
t Loulsv St 5s 1030------- J-J
Lynn A Bos 1st 5s 1921.J-D
• New Orl Rys A L g t .._ i0 (
t Preferred........... ........ 10C
Gen M g 4 Hs 1935—See £
Pub Serv Corp of N J __ 101
Tr ctfs 2% to 6% perpet
North Jersey St R y .. 10C
1st 4s 1948........... M-N
Cons Tract of N J ___ 100
1st 5s 1933_______ J-D
• P e r sh are.
£> B asis,
Ask
16
65
140
100
list
104
00
$>
15
92
list
100
40
325
100
325
____
60
list
list
list
180
10 46
00 ____
60
56
110 126
85
60
92
S3
Exc list
50
SO
83
75
20
(nlO
100 215
100'2 102
75
65
40
iinge
Exc
Exc
155
100
07
167
an^o
08
102
102
170
list
102
98
07
Exc
60
78
75
95
Exc
100
08l2
list
75
83
80
100
list
103
EXC
S7
103
103
list
02
105
105*2 107
104 *05*?
06
102*2
la list
102
75
73
81
70
Exc list
85
82
10-1'M s 103
101 106
251* 251?
67*2 07h
tk Ex list
112 114
09 100
60
75
74
72
73
103 104
Street R a ilw a y s
Pub Serv Corp N J (Con) —
New'k Pas R y 5s ‘30. .J-J
Rapid Tran St R y ___ .100
1st 5s 1021............. A-O
J C Hob A Paterson43 g 1011................ M-N
So J Gas El A T r a c .. .400
Gu g 5s 1053_____ M-S
No Hud Co Ry 6s 1914 J-J
5s 1028.................... .J-J
Ext 5s 1021........... M-N
Pat Ry con 6s 1931. .J-D
2d (is opt 1014 — A-O
So Side El (Chic)— See Ch
Syracuse R T 5s 1016 .. M-S
Trent P A II 5s 1943.. .J-D
United Rys ot St L—•
Com vot tr ctfs_____ .100
100
Gen 4s 1934— See Stook
Unit Rys San Fran— See Stk
Wash Ry A El Co......... .100
Preferred_____ _____ .100
4s 1051............. .......... .J-D
Bid
£Yo l - l x x x x i ,
Ask
T elegraph and T elephon e
e Arner Teleg & Cable___100
78
e Central A So Am cr____100 j:116
Comm’l Un Tel (N Y ).._ 2 5 105
65
Empire A Bay State T el. 100
40
Franklin _______________100
no
110
60
Pacific A Atlantic.............. 25
e Pac Telep & Teleg pref 100 z90
Southern 3s A tlantic____ 25
00
F erry C om pa n ies
B A N Y 1st 6s 1011____J-J
N Y & E R Ferry s t k .. . l 0 0
1st os 1022...................M-N
N Y & Hob 5s May ’ 46.J-D
Hob Fy 1st 5s 1 0 4 6 ..M-N
N Y & N J 5s 1046......... J-J
10th A 23d Sts F e r r y ... 100
1st intge 5s 1 0 1 0 .. .. J-D
e Union Ferry stock____100
e 1st 5s 1920............... 11-N
Short-T erm N otes
Am (Jig ser A 4s 1011..M -S
Ser B 4s Mch 15 T 2 ..M -S
Balt A Ohio 4H s 1913.J-D
Bethleh Steel 6s 1014..M-N
Chic A Alton 5s 1013..M -S
Clu Ham & D 4s 1913...J -J
C C C A St L 5s, June 1011
Hudson Companies—
6s Oct 15 1011............ A -0
6s Feb 1 1913.............. P-A
Interb R T g 6s 1911..M-N
IC C lty A Lt 6s T 2 ____M-S
Minn A St L g 5s 1 0 1 1 ..P-A
e N Y C Lines Eq 5s T l - ’22
4H s Jan 1911-1025...........
N Y N H & H 5s '1 1 -'1 2 ..
St L A S I M M s ’ 12 op.P -A
5s Mch 1 1013............M-S
South Ry g 63 1013____ F-A
Tidewater 6s, 1913, g u a r ...
Wabash 4H s 1913------M-N
83,
357g
Exo
Exc
32i2
86
831.*
R a ilroad
Cldc Peor Ac St L —
Prior Hen g 4H s ’30.AI-S
74*2
Con mtge g 5s 1030__ J-J
131
Income 5s, July 1930
98*4
Subway.............. 100
. . . . Chicago
Kan A Col Pac 6s 1938.P'-A
. . . .
Nat Rys of Mexico—See S
. . . .
Northern Securities Stubs. .
Pltt3 Bess A L E ................ 50
101
Preferred_____________ 50
list
« Railroad Securities Co
102
111 C stk tr ctfs ser A ___52
—
Seaboard Company—
1st preferred_________100
0*4
Com A 2d pref— Sec Bal
36
Seaboard Air Line—
list
list
3334
36's
Industrial and Aliscel
83I2
G as Securities
New York
Cent Un Ga3 5s 1 9 2 7 ... .J-J 100*2
Con Ga3 (N Y ) — See Stock Exc
e Mutual Gas.................. .100 165
New Amsterdam Gas—
1st consol 5s 1918.. .J-J ICO'"
N Y A E R Gas 1st 6s '44 J-J 101
07
Consol 5s 1045______ .J-J
33
N Y A Richmond Gas. .100
00
Nor Un 1st 5s 1027____ M-N
00
e Standard Gas c o m .. . .100
00
e P r e fe r re d ..... .......... .100
1st 5s 1930.................. M-N 102
10134
list
175
10134
104
100
50
101
. .
Amer Hardware.
95
Exc
3
Exc
62
78
90
100
190
90
300
135
77
98
132
33
64
12*2
78
/ 88
10i*2
80
103
120
00
103
100
67
87
88
100
00
97
28
60
10)
108
9978
0)34
003*
06*8
98*2
07*8
100*4
100*4
09*4
003.,
U/3g
90*8
08*8
10034
30
75
26
47
9h5s
lOOlj
00*4
1001s
4.35
100*4
101
U85S
Ub*2
08*2
101*8
0078 100*4
1003,8 1003j
—
96*2
/ 85
f ....
f — .
434
107
t Exc
105
*30
*62*2
**4'7s
100*2
list
115
35
72*2
90
95
78
t Exc
80
list
100 1)0*8
92*4 92*2
90*2
180
I221o
160
125
224
103
10
30
____
102
100
list
10U2
68*2 6'J12
230
*43j
5*4
116
412
42
40
98 101
07 100
3*2
2*2
20*4 30
90
89
f 89*2
*170
117*2
155
Zl20
218
100
5
23
122
100
05
tk Ex
101
. .
___
100
*4912 51
*41
4 212
288 293
103 105
*2
__
90
100
9934 100*4
Am T obacco Co com .
Other CUtes.
Am Gas A Elee com __ -.5 0
Preferred ............. ...... ..5 0
Amer Light A T r a c t ... .100
P referred___________ .100
Bay State Gas............... ..5 0
Blugh’ton (N Y) Gas Wks
1st g 5s 1938............. A-O
Brooklyn Un Gas—Set Stk
Buffalo City Gas stook. .100
1st 5s 1047— See Stock
Cities Servlco Co........... .100
P referred.................. .100
Con Gas of N J 5s 193( .J-J
Consumers’ L II A Pow —
5s 1038...................... -J-D
Denver Gas A Elec____ .100
Gen g 5s 1019 o p ___ M-N
Elizabeth Gas Lt Co__ .100
Essex A Hudson G a s.. .100
Gas A El Bergen Co__ .100
e Gr Rap 1st 5s 1915 . . .F -A
Hudson Co Gas............. .100
Indiana Lighting Co__ .100
4s 1958 o p ......... ........ F-A
Indianapolis Gas........... ..5 0
1st g '5s 1052............. .A -O
Jackson Gas 5s g 1937. .A -O
e Laolede Gas.................. . 100
0 Preferred.................. .100
Madison Gas 6s 1026.. .A -O
Newark Gas 6s 1 9 1 4 ... .Q-J
Newark Consol Gas___ .100
eC on g 5s 1048......... .J-D
No Hudson L H & Pow —
53 1038.....................
Pactdc Gas A E, com . .100
Preferred..................
Pat A Pas Gas A Elec .100
e Con g 5s 1949____ .M-S
St Joseph Gas 5s 1937
50
118
00
20
50
07*2
106
06
20
65
23
04
08
100*2
0834
9078
64.60
00*8
100*2
08*8
06
08
101Q
107*2 108*2
235 215
100
—
73*4
128
07Q
101
102
05
114
09
Icago
100i2
95
84
U012
Amer Writing Paper..
__
__
100
list
5
list
65
70
04
67
__
Bond A Mtge Guar.
2* lo "
03
British Col C o p p e r ..... 5
Butte Coalition Mining. 15
Casein Co of Am com ___ 100
80*
Preferred____________ 100
101
Casualty Co of Amer___ 100
130
Celluloid C o.......................100
35
Cent Fireworks com ____100
65
P referred.......................100
25
Central Foundry________100
83
P referred.......................100
92l2
D e b63’ 19 red at 1 0 5 .M-N
1053g Chcsebrough Mfg Co____ 100
102
Chino Copper C o.............
5
108
City Investing Co............ 100
. . -P referred.......................)00
98
e Claflln (H B) com ......... 100
104
e 1st preferred.............. 100
e 2d preferred............. 100
Col A Hock Coal A I pf.100
1st g 53 1917................J-J
68
Col tr 6s Oct 1956____J-J
89
01
Consol Car Heating____ 100
Consol Rubber Tire____ 100
101
94
P referred ....................... 100
Debenture 4s 1 9 5 1 ..A-O
. . . .
e Sells on S to c k E x ch a n g e , b u t n o t v e ry a c t iv e . / F la t prtco.
n N om in al,
j
85
tk Ex
125
123
250,
118
105
*7*8
*18
2*4
50
125
132
1
10
68*2
22
95
list
127
127
257*2
122
106
7*4
19
3'2
55
123
‘ o'
20
35
31
700
*2H; 2*l»g
62
53
101 105
102 100
06
93
93
Sale p rice .
Did
In du strial and Alisccl
Preferred___________100
Davis-Daly Copper Co— 10
.100
e Preferred.
e Gold 4 Ha 1930____J-D
Electric Boat___________ 100
Preferred____________ 100
Empire Steel___________ 100
P referred____________ 100
General Chemical_____100
e Preferred___________ 100
Gold Hill Copper________
Greene-Cnnanea................ 20
Guggenheim Explor’n . . 100
Hackensack Water Co—
Ref g 4s ’52 op 1012 ..J -J
Hall Signal Co com _____100
Havana Tobacco Co____100
Preferred____________ 100
1st g 5s June l 1022 .J-D
necker-Jones-Jewell Milling
1st 6s 1922.................. M-S
Herrlng-Hnll-Mar n e w .. 100
Hoboken Land A I m p .. 100
1st 5s Nov 1030________
Houston Oil____________ 100
Preferred.......................100
Hudson Realty_________ 100
Ingersoll-Rand com __ 100
e Preferred.....................100
Intercontinental Rubber 100
InteruatT Banking C o .. 100
International Nlokel____100
Preferred____________ 100
1st g 5s 1 9 3 2 ............ A-O
International Salt______ 100
1st g 5s 1051.............. A-O
International Silver____100
P referred____________ 100
1st 6s 1048.................. J-D
Internat Smelt A Refg-.IOO
Internat Time R e co rd ..100
Preferred______ ______ 100
)nes A Laughlln Steel Co
1st s f g 5s 1930......... M-N
Lackawanna Steel____100
e 1st con 5s 1950____M-S
e Deb 5s 1915_______ M-S
Lanston M onotype......... 100
Lawyers’ Mtge Co______ 100
Leh A Wllkes-B Coal____50
.
. ...1 0 0
Madison Sq Garden_____100
2d 6s 1919__________ M-N
Manhattan Transit______ 20
May Dept Stores________100
Preferred____________ 100
Monongahela R Coal_____ 50
Preferred_____________ 50
Mortgage Bond Co____r 100
Nat Bank of Cuba______ 100
National S u r e ty ________ 100
e NevadaCons’dC oppcr. i
Nev-Utah Min A Sm_____ 10
____ 20
N Y Air Brako 0s— See Stock
N Y Biscuit I3s 1911____M-S
New York D ock______ 100
e Preferred __________ 100
N Y Mtge & Security___100
N Y Transportation_____20
NUes-Uem-Pond com ___100
Nlplsslug Mines......... ...........5
Ohio Copper Co__________ 10
As b
121£ 13
75
75lj
*U 2
15S
93t2 04
145 150
84
82
82
85
612 12
35
25
10
15
02
55
9712 102
101 10412
*7 ,
81«
*67g
7
195 200
85
20
4
8
501o
103
30
86
35
0
12
5912
105
35
lOHi 103*
8
40
471a
110
93
97
333<i 34*4
90 100
100
91
93*'
93
95
3
0
47
52
50
80
104 108
110 112
128
5
160 185
105 110
101
35
85
0U2
ZU0
214
230
135
35
85
*1
59
103
102
42
*9*2*”
92I2
248
263
145
45
‘ YU
01
104
8
1131; U 5l2
100l2
190 195
Stk T x list
* l3l(
7a
60
30
Exc list
100
35 '
*65 * 68
200 210
*412
512
98
05
:z l0 l2 1034
*1=8 l l l ia
U2 2U
50
48
Otis Elevator com ______ 100
08
97
P referred____________ 100
Pittsburgh Browing_____ 50 * 2 2 7 g
41 *
P referred_____________ 50 * —
Pittsburgh Coal— See Stock Exc list
60
Pope Mfg Co com ______ 100
53
P referred____________ 100 74
78
Pratt A Whitney p r e f..100 102i2 104
Producers OH___________100 142
140
Realty Assoo (B k ly n )...1 0 0 . . . 116
190
Royal Bak Powd com ___100 180
P referred....... ............ .100 107
108
Safety Car Heat & L t___100 123
125
Seneca Mining-------------- 25 * ___
60
dinger Mfg C o..................100 330
340
South Iron A S com ------100
3
0
Preferred — ................100
7
12
Standard Cordage........... 100
...
u
1st M g 5s '31 red------ A-O f 16
18
Adjust M 5s Apr 1 1931.. / 3
4
Standard Coupler c o m .. 100 ___
40
P referred ......................100 100
Standard Milling Co____100
16
'1 8 *
P referred......................100
50
54
1st 6s 1930..................M-N
84
87
Standard Oil of N J ......... 100 618
620
Swift A Co— See Boston Stk Exc list
1st 5s. See Chicago Stk Exo list
Texas Company— See Stock Exc list
e Texas A Paclilc C o a l.. 100 05 100
140
n tlc Ins Co of N Y ......... 100 135
Tonopah Min (Novada)___1
734 8
8
Trenton Potteries c o m .. 100
4
55
Preferred n e w _______ 100
45
Trow Directory............... 100
30
62"
Underwood Typewriter. 100
60
Preferred_____________ 100 00i2 100*1
51
Union Typewriter c o m .. 100
48
1st preferred..... ...........100 104 108
2d preferred__________ 100 103 107
52
United Bk Note Corp___50 *40
P referred...................... 50 *50
52
United Cigar Mfrs............. 100 01l2 63
e Preferred___________ 100 100 103
United Copper__________ 100
4
4*4
20
P referred..... ................. 100 10
U S Casualty.....................100 215
U S Envelope com ......... 100
50
P referred____________ 100 110 113
97
U S Finishing_______ . .. 1 0 0
02
Preferred____________ 100 105 110
1st g 5s 1010................J--* 100 105
Con g 5s 1020_________J-J
95 100
U B Steel Corporation—
Col tr s f 5s 1951 opt 11 . 114 114ta
Col tr s f 5s '51 not o p t .. 114 114l2
U S Tit Gu & Indein------100
------ 021j
e Utah Copper Co— See Stk Exo list
Westchester A Bronx Title
Mtge Guar........... ..1 0 0 100
160
Westlngh’ae Air B ra k e .. 50 * ____ 140
West El * Mfg 5s— See Stk Exc list
W orthlngt’n Pump pref.100 104 107
1 N ew s to c k .
% K x -d lv .
v E x -rlg h R
Deo. 3 1 1910.IJ
THEj CHRONICLE
1761
Investment and Railroad Intelligence.
rl.AlLtf.OAD GtfOSS t ARNllNGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings tor the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not beg'n with July, but covers some other
period T h e r e tu r n s o f the electric r a ilw a y s are b rou g h t togeth er s e p a r a t e l y o n a s u b s e q u e n t p a g e .
Latest Gross Earn ings.
ROADS
W eek or
M onth.
Current
Year.
July 1 to Latest D ate
P revious
Year.
Current
Year.
P reviou s
Year.
A la N O & T e x P a c 296,052 1,488,071
328.512
,421,844
N O A N o, E a s t. N o v e m b e r .
157,753
706,920
161,503
712 ,767
A la & V ick sb u rg N o v e m b e r .
133,801
659,944
140,911
613,046
V ick s S hrev A P „ N o v e m b e r .
7,246
11,059
45,800
31,337
A la T c n n A N o r t h .. N o v e m b e r .
,507,765
A tc h T o p e k a & S Ee N o v e m b e r. 9,983,058 9,028,529 16,074,213
1,344,004
84,357
51,630
,220,760
A tla n ta B irm A A tl 3d w k D ec
,334,500
A tla n tic Coast Line O cto b e r . . 2,507,255 2,503,776 9,021,842
,043,200
a B a ltim ore & O hio A o v o m p e r. 7,470,106 ? ,524,610 10,154,550
130,038
111,867
682,543
514,720
B A O Ch T er R R N ovem ber.
256,084
269.559
995,959
B a n gor & A r o o s to o k O cto b e r . .
050,551
7,083
8,566
B e llcfon to C en tra l. . N o v e m b e r .
39,034
28,145
B oston A M ain e___ O cto b e r . _ 1,085,314 3,014,354 16,215,892
,573,202
B rid g eton A S a co It O cto b e r . .
3,828
20,479
4,456
10,181
192,286
B u ll R o c h & P itts b . 3d w k D ec
106,550 4,719,983
,502,527
202,422
Buiralo A S u s q ____ S eptem ber
230,890
593.853
003,683
Canadian N o rth e r n . 3d w k D ec
253,700 7,698,201
285.900
,403,500
C anadian P a clllo ___ 3d w k Dec 2,005,000 1,873,000 53,019,303
,231,754
Central o f G e o r g ia .. 3d w k D ec
257,200 6,332,851
288.900
,026,492
Central o f N ew J e r . O cto b e r . .
,418,345 ■\459,702 0,645,744
182,358
393,707
Central V e r m o n t___ O cto b e r . .
1,304,142
370,465
C h a tta n ooga S o u t h . 3d w k D ec
2,047
2,055
Cites A O hio L in e s . 3d w k D ec
599,175 10,004,127 14,018,531
593.513
C h icago & A l t o n ___ 3 d w k Sep
279,373 7,412,285 0,883,587
332,914
Chic Burl & Q uin cy O cto b e r . . 8,909,093 8,363,547 32,759,270 30,896,805
p Chic G reat W e s t . . 3d w k D ec
235,220 0,296,591 5 ,691,026
280,027
Chic In d A L o u is v . 3d w k D ec
103,242 3,052,911 2.897.000
105.051
Chic Ind A Southern — See New Y ork Oen tral.
Chic MU A S t P a u l. O c t o b e r __ 6.508.261 6,553,305 24,352,306 23,010,689
Ch MU & P u g S d . O cto b e r . . 1,310,900 1,020,087 4,795,113
Chic & N orth VVest. O cto b e r . . 7,378,280 7,490,670 27,750,328 ! 7,2 38" 04 4
1,062,073 1,494,236 5,987,850 5,261,453
C h lc St P M & O m _ O cto b e r
898,534 4,240,134 4 ,234,784
802,435
Cln H am & D a y ton N o v e m b e r .
C icv Cln C h ic A St L — See New Y ork Gen ral.
243,962
203,064
C olora d o M id la n d .. O cto b e r . .
758,102
867.475
C olora d o A S o u t h . . 3d w k D ec
320.051
314,035 8,5 5 5 ,0 8 5 8 ,182,833
69,518
00,180
C op p er R a n g e _____ Septem ber
197,088
209,997
14,020
11,900
O cto b e r . .
C o r n w a l l ____
60,125
56,044
28,431
C ornw all A L C b a u .. O e to o c r ..
30,575
131,081
153,312
190,692
150,098
C uba R a ilr o a d _____ O cto b e r . .
821,883
641,234
D elaw are A H udson O cto b e r . . 1,948,931 1,836,202 7,2 1 2 ,8 1 5 6,704,037
D el L a ck & W e s t .. O cto b e r . . 3,218,290 3,201,250 12,354,823 12,257,177
433.900
383,300 12,200,995 11,680,289
D en v A R io G rande 3d w k D ec
18,668
15,897
540,693
D en ver N W A P a c . 4th wk N o v
489,411
33,885
990,131
28,071
D ct T o l A Iron t Sys 3d w k D ec
793,725
37,178
40,073
Ann A rbor.
3d w k D ec
075,203
897,062
19,414
D etroit A M ackinac 3d w k D ec
565,489
19,159
569,978
D ul & Iron R a n g e . . O cto b e r . .
022,872 1,280,069 4,516,927 5 ,484,405
D ul S ou Sh & A tlan 3d w k D ec
52,362
54,783 1,651,859 1,632,162
638,591
E l P aso & S ou W est N o v e m b e r .
633,682 3,000,652 2,802,257
E r i c _______________ N o v e m b e r 4,818,007 4,970,903 25,049,055 23,871,535
F a irch ild A N or E N o vem ber
2,269
2,212
10,285
0,715
F o n d a John s & G lov N o v e m b e r .
72,200
66,101
428,450
387,857
G eorgia R a il r o a d .. N o v e m b e r
306,134
280,481 1,348,343 1,302,171
G eorgia South & Fla — See S out hern Rail w ay.
G rand T ru n k S yst__ 3d w k D ec
878,140
845,465 21,701,007 21,020,150
G rand T r k W e s t . 2d w k D ec
127,843
100,333 2,692,377 2,791,778
D et Gr H a v A MU 2d w k D ec
054,571
45,940
838 ,420
40,600
C anada A t la n t ic . 2d w k D ec
28,391
800,809 1,008,071
30,255
G reat N orthern Syst N o v e m b e r . 5,608-,315 0,135,405 30,240.057 31,078,621
179,553
G u lf A Ship Is la n d . O c t o b e r __
698,603
207,313
655,570
H o ck in g V a lle y ____ O cto b e r .
750.560
782,298 2 ,045,070 2,774,502
Illin ois C e n t r a l____ N o v e m b e r . 5,348,567 5,126,767 20,112,196 24,420,838
In tc rn a t A G rt N o r . 3d w k Deo
179.000
472,837 4,240,296
172.000
a In tc ro c c a n ic M ex 3d wk Dee
167,810
190,435 4,037,232 3,838,828
Io w a C en tral_____
80,308
3d w k D ec
70,883 1,694,889 1,075,395
K an a w h a A M ic h . O cto b e r .
200,685
255,536 1,182,009
937,125
K ansas C ity S o u t h . O cto b e r . .
051,102
801,897 3 ,527,437 3 ,018,670
K C M cx A O r ie n t .. 3d w k D ec
39,600
32,900
955,071
822,741
L ehigh V a lle y ___
N o v e m b e r. 3.271.262 3,302,220 15,680,343 15,214,024
39,858
L e x in g to n A East
O cto b e r . .
34,866
173,594
151,392
In
c.
62
L o n g Is la n d _____
O cto b e r
,744
In c . 260 ,238
113,838
L ou isian a & A r k a n . O cto b e r . .
111,457
427,821
477,386
108,911
104,591
L ou is v H en d A St L O cto b e r .
420,611
390,844
s L ou isv & N a s h v .. 3d w k D oc 1,140,585 1.045,805 20,393,330 24,003,599
14,679
M a con A B lrm ln g’ m N o v e m b e r .
14,450
65,863
67,015
823,574
782.135 3,302,965 3,252,151
M aine C en tral____ O cto b e r . .
30,747
M arylan d A Penna N o v e m b e r .
199,832
33,720
182,083
152.000
a M exica n R a ilw a y . 1st w k D ec
161.000 3,039,100 3 .361.000
218,600
a M exico N or W e s t. O cto b e r . .
774,446
122,973
411 ,319
— See N ew Y ork Cen tral.
M ichigan Central
13,413
M ineral R a n g e _____ 3d w k D ec
354,372
16,117
415,899
109,847
M ln neap & S t Louis 3d w k D ec
05,828 2,052,239 2,575,890
M inn St P & S S M l 3d w k D oc
402,249
378,574 11,398,321 12,140,958
C h icago D iv is ion /
77,541
M ississippi C en tral. O cto b e r . .
82,042
307,077
278,033
W M o K an A T e x a s . N o v e m b e r . 2,807,469 2,433,439 13,123,033 11,858,580
M o P a o A Iron M tl
993,000
960,000 26,100,363 2 5 ,633,275
Central B r a n c h .] 3d w k D ec
N ash v C hatt ASt L O cto b e r . . 1,019,241 1,009,213 3,873,282 3 ,790,626
o N at R y s o f M e x .f . 3d w k Dec 1,200,968 1,167,770 30,225,720 2 0 ,698,235
7,150
5,802
197,645
N e va d a -C a l-O rcgon 3d w k Dec
256,891
7,573
34,344
7,900
N ev a d a C en tral____ N o v e m b e r .
32,888
117,864
N O G reat N orthern O cto b e r . .
575,503
139,005
430,650
N O M obile A C h ic. W k D ec 17
36,827
828,363
41,928
741 ,140
N Y O n t & W estern O cto b e r . .
702.628 3,482,001 3,134,981
743,440
Latest Gross Earnings.
ROADS.
W eek or
M onth.
Current
Year.
July 1 to Latest Data.
Current
Year.
P revious
Year.
P reviou s
Year.
S
N Y N H & I l n r t f .. O cto b e r
5,571,071 5,417,411 22,046 ,413
,969,571
e N Y C A H u d R l v . O cto b e r
9,166,923 8,889,031 35,971 ,066
,004,680
L a k o Shore & M S O cto b e r
4,399,008 4,307,470 17,586 ,259
,793,474
n L a ke E A W est O cto b e r
495,288
505,275 2,002 ,762
909,892
C h ic In d A South O cto b e r
324,804 1,106 ,586
327,011
,144,441
M ichigan Central O cto b e r
2 ,706,510 2,700,718 10,621 ,999
,953,284
Cleve O C A St L . O cto b e r
_ 2 ,868,096 2,585,574 10,858 ,460
,126,599
P eoria & Eastern O cto b e r . .
342,741
204,366 1,317 ,324
,1 2 6 ,3 4 0
C incinnati N o rth . O cto b e r
117.580
119,076
484 ,44
150,827
P itts & Lake Erie O ctober
1,034,951 1,601,088 6,305 ,259
,053,791
R u tla n d
O cto b e r
331,918
321,384 1,298 ,088
203,759
N Y Chic & St L . O cto b e r
1,093,571
984,127 3,876 ,976
,538,274
T o le d o & O hio C . O ctob er
500,823
384,832 1,985 ,879
,5 48,206
T o t all lines a b o v e O cto b e r
23984419 23017745 93,415 ,703
913 ,576
N Y Susq & W e s t .- N o v e m b e r .
306,952
307,80
1,553 ,088
,436,179
N o rfo lk S o u t h e r n .. O cto b e r . .
248,034
220,268
940 ,040
8 6 2 ,9 4 0
N o rfo lk & W e s te rn . O cto b e r . . 3,300,513 3,045,354 12,591 ,374
553,005
N orth ern C e n tr a l.. O cto b e r
1,180,907 1,245,307 4,401 ,377
360 ,977
N orth ern P a c ific ___ N o v e m b e r . 5,972,746 6,690,435 31,464 ,703
681,802
P a cific Coast C o ___ O cto b e r .
804,850
758,929 3,142 ,392
0 3 0 ,6 5 0
P e n n sylva n ia C o ___ O cto b e r . . 4 ,9 3 j,0 7 u 4,944,045 20,202 ,767
011,172
d P en n — E o f P A E O cto b e r . . 14576084 14773884 56,599 ,707
079 ,207
cl W est o f P & E . O cto b e r . .
In c . 12 1,400
Inc:. 2,28
00
N o v e m b e r . 1,396,486 1,390,746 7,112 ,361
P ere M a rq u e tte .
940 ,648
P h lla B a lt & W a s h . O cto b e r . . 1,660,681 1,564,481 6,846 ,976
166,170
Pitts Cln Ch & S t L . A o v e m b e r. 2,603,731 2,808,345 14,869, 4 ,-.
995,213
R aleigh A S o u th p ’ t N o v e m b c r .
13,419
14,326
65, 567
03,861
R ea d in g C om pa n y
P h lla A R e a d in g . N o v c m b c r . 4,148,
1,000,848 19,041,1
18,344,238
Coal & Iron C o . N o v e m b e r. 3,874,
3 ,532,035 12,553,088 12.3 9 2 .0 3 5
,532,883 3 1 ,504,217 3 0 ,736,207
T o ta l b o th c o s ___ N o v e m b e r . 8,023,
R ic h F red & P o to m O cto b e r . .
169,694
178,
728,380
651,228
112,708
R io G rande Jun e . . O c t o b e r ___
95,
382,026
3 80 ,323
R io G raudo S o u t h . . 2d w k D ec
10,097
299,844
10 ,
232,980
R o c k Isla n d L in e s . _ N o v e m b e r . 6,192,
,873,966 30,475,548 29.0 5 1 .0 3 6
S t Jos & G rand 1st_ O cto b e r . .
644,028
172,227
185,
615,907
St L ou is A San Fran N o v e m b e r . 4,033,
,792,527 18,855,589 18,120,107
Chic & E ast 111.. N o v e m b e r . 1,129
.072,516 5,407,659 4,0 7 2 ,1 0 5
/ E v a n sv A T e r II N o v e m b e r .
225
224.210 1,207,313 1,0S 5,998
T o ta l o f all lin es. N o v e m b e r . 5,388,
,089,263 25,470,507 24,1 7 8 ,2 7 0
St L R k y M t A P a c . O cto b e r . .
194,
148,417
707,158
508.887
St L ou is S o u th w e s t. 3d w k D ec
270,
220.211 6,106,424 5,511,565
San P ed L A A S L . O cto b e r
743,
709,265 2,641,656 2,828,047
Seab oard A ir L in e .)
A tla n ta A B lr m . ) 3d w k D ec
440,593
405,763 9 ,680,217 9,037,327
F lo rid a W ShorcJ
S ou th ern I n d ia n a .. O cto b e r _
149,478
133 243
623,074
479 ,600
Sou th ern P a cific Co N o ve m b e r 12198.642 12324 ,026
,571,259
,635,947
S ou th ern R a il w a y .. 3d w k D ec 1,233,914 1,169 001
,282,296
,680,565
M o b ile A O h i o . . . 3d w k D ec
250,803
234 766
,239,377
,944,966
Cln N O A T e x P . 3d w k D ec
173 732
179,747
,522,624
187,038
A la G reat S o u t h . 3d w k D ec
86,906
83 472
,149,080
881,738
G eorgia S ou A Fla 2d w k Dec
51 022
46,443
080,801
0 5 9 ,7 5 0
T e x a s A P a cific ____ 3d w k D ec
350 776
369,361
,217,646
677,008
T id ew a ter A W e s t . O cto b e r . .
6 2 76
6,643
28,265
2 6 ,065
T o le d o P e o r A W est 3d w k D ec
22 726
25,606
628,675
559 ,500
T o le d o S t L A W est 3d w k D ec
84,833
85 011
891,899
896 ,897
T o m b lg b c e V a ll e y .. N o v e m b e r .
7,750
7 712
35,238
32,834
U n ion Pacifto S y s t . N o v e m b e r . 8.566.643 8,341 783
478,065
816 ,005
V a n d a l la ___________ O cto b e r . .
962,560
919 44,
7 58 ,283
310,456
V irginia A S ou W est N o v e m b e r .
126,626
105 42
553.213
522,200
W a b a s h ____________ 3d w k D ec
546 067
598,190
,007,478
223,916
W estern M a r y la n d . O cto b e r . .
651,866
607, 697
655,229
340,743
W Jersey A S e a s h .. O cto b e r . .
484,730
437 630
967,569
643,060
W h eelin g A L a k e E O c to b e r ___
771,581
619 874
580,589
471 ,015
W righ tsvillo A T en n N o v e m b e r .
29,691
29 08
135,601
140,498
Y a z o o A Miss V a il. N ovem ber 1,174,392 1,075, 12
322,420
249,262
V a rious F isca l Y ears.
P erio d .
Jan
B ellefon te C en tral___________
D elaw are A H u d s o n ____________ J a n
a M exica n R a il w a y _____________ J a n
a Mexico North Western______
e N Y Central A H u d son R iv e r .
L a ke Shore A M ichigan South
n Lake Erie A W e s te rn _______
C h icago In dian a A S o u th e rn .
M ichigan C en tral_____________
C leve Cln C h icago A St Louis
P eoria A E a s te rn _____________
C incinnati N o rth e rn _________
P ittsb u rg h A L a ke E rie_____
R u t l a n d ---------------------------------N ew Y o rk C h icago A St L ouis
T o le d o A O hio C en tral_______
T o ta l all lin es_________________
N orth ern C en tral________________
d P e n n — E ast o f P itts b A E r i e ..
d W est o f P ittsb A E rie _______
P h lla B a ltim ore A W a s h in g to n .
P itts b Cln C h icago A St L o u is ..
R io G rande J u n ctio n ____________
T e x a s A P a c i f i c _____ . . . . . . . . .
West Jersey A S e a s h o r e .......
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
ia n
Jan
ian
Deo
Jan
Jan
to N o v
t o O ct
t o D eo
to O ct
to O ct
to O ct
to O ct
to O ct
t o O ct
to O ct
to O ct
t o O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
to O ct
t o O ct
to N ov
t o O ct
to D eo
t o O ct
Current
Y ear.
P reviou s
Y ear.
578,908
$57 ,307
16,848,007 16,001,404
7,756,400i 7,0 8 1 ,0 0 0
1,313,337 1,029,068
82,941,864, 70,638,451
41.2 9 9 .3 8 7 3 7 ,0 3 8 ,5 8 2
4,573,643 4 ,077,233
3,0 3 2 ,3 4 5 2 ,5 7 1 ,1 2 5
24.609.403 22,5 4 3 ,6 5 4
25,030,728 22,634,621
2,9 0 9 ,0 8 3 2,462,701
975,457
1,074,413
14,588,878 11,836,433
2 ,775,033 2,5 7 3 ,8 1 6
9 ,326,400 8,2 0 9 ,7 4 7
4 ,1 5 1 ,5 6 6 3 ,1 7 7 .7 4 3
210321842 194739 563
10,591,771 10,072,071
137023650 125222056
m e . 11, 66 1,000
15.929.387 14.631.387
31,661,165 7 ,585,313
938,743
878,213
15,648,321 14.205,266
5,567,521 0,041,621
AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
W eekly Summaries.
Ed
3d
4th
1st
2d
8d
4th
1st
lid
Bd
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
O ct
O ct
O ct
N ov
N ov
N ov
N ov
Deo
D eo
D oo
(42
(42
(40
(41
(43
(40
(40
(41
(42
(41
r o a d s )____
r o a d s )____
r o a d s )____
r o a d s )------r o a d s )____
r o a d s )------r o a d s )____
r o a d s )____
r o a d s )____
r o a d s )____
Cur'nt Year P rev’ s Year
$
11,838,200
15,114,753
20,827,036
14,108.835
14,556,083
14,278,852
17,439,211
13,426,554
13,408,331
13,941,920
$
14,158,835
14.512.278
20,204,138
13,830,545
14,373,360
13.578,646
16,078,284
12.005,276
12,525,875
12,947,796
In c. or D ec.
%
i
+ 679,305
+ 602,475
+ 623,798
+ 302,290
+ 182,623
+ 700 ,200
+ 400,927
+ 761,278
+ 882,474
+ 994,124
4.80
4.15
3.06
2.61
1.27
5.16
2.71
6.08
7.11
7.68
Monthly Summaries.
Current Yd. Previous Yr. Inc. or Dec.
Mileage Curr. Yr. Prev. Yr.
S
$
$
F e b r u a r y __236,852
M a r c h .......... 235,925
A p r i l .............237,569
M a y ............... 237,560
J u n e .............238,108
J u l y ............... 238,109
A u g u s t ____ 238,493
S e p to in b e r__240,678
O cto b e r ___ 232,162
N o v e m b e r __ 87,809
231,052
230,841
232,463
232.404
232,054
233,203
239.404
237,809
228,050
85,221
202,258,490
237,533,0.05
225,225,596
234,310,642
237,036,159
230,615,776
254,005,972
256 ,647 ,70 2
256,585,392
69,828,448
174,150,723
2 0 4 ,910 ,99 7
196,595,911
201,069,381
209 ,270 ,88 7
217 ,803 ,35 4
2 3 5 ,7 2 6 ,0 0 0
2 40 ,335 .58 6
2 5 3 ,022 ,86 7
6 8 ,138.393
+ 28,098.767
+ 3 2 ,6 1 6 ,0 0 8
+ 2 8 ,629,685
+ 33,241,261
+ 27.765,272
+ 12,812.422
+ 18,279,972
+ 10,312,116
+ 2 .6 6 2 .5 2 5
+ 1,690,055
%
16.1#
15.92
14.66
16.5#
13,27
? :«
4.10
1.08
2.4#
. . , /* M e x ic a n c u r r e n c y ,
d C o v e r ; Ones d i r e c t l y o p e r a t e d , e I n c lu d e s t h e N e w Y o r k A O t t a w a , t h e S t . L a w r e n c e A A d ir o n d a c k a n d t h e O t t a w a A
P * ,, •
la t t e r o f w h ic h , b e in g a C a n a d ia n r o a d , d o e s n o t m a k e r e t u r n s t o t h e I n t e r -S t a t e C o m m e r c e C o m m is s io n ,
r I n c lu d e s E v a n s v i l l e %
I n d ia n a R R .
g I n c lu d e s t h e C le v e la n d 1 L o r a in A W h e e lin g R y . In b o t h y e a r s , n I n c lu les t h e N o r t h e r n O h io R t t . p I n c lu d e s e a r n in g * o f U a s o n O l t *
ft Ft. D o d g e a n d W ta o M in n . A P a c ific ,
s I n c lu d e s L o u is v ille A A t l a n t i c f r o m J u l y 1 1 9 0 0 a n d t h e F r a n k fo r t A C i n c in n a t i f r o m Nor■1 1 0 0 8 .
lift*
llu d e s t h o M e x ic a n I n t e r n a t io n a l f r o m J u ly 1 0 1 0 .
u I n c lu d e s t h e T e x a s C e n tr a l In 1 0 1 0 ,
THE CHRONICLE
1763
Latest Gros3 Earnings by W eeks.— In the table which
follows we sum up separately the earnings for the third week
of December. The table covers 41 roads and shows 7.68%
increase in the aggregate over the same week last year.
Third, Week, o f D ecem ber.
1910.
A la b a m a G reat S o u th e r n ___
A t la n t a B irm in gh am & A tla n tic
B u ffa lo R o c h e s te r & P ittsb u rg h
C a n a d ia n N o rth e r n _____________
C a n ad ian P a c ific ________________
C en tral o t G e o rg ia ______________
C h a tta n o o g a S o u th e r n .................
C h esapeake & O h io _____________
C h ic a g o & A l t o n ________________
C h ica g o G reat W e s te rn _________
C h ic a g o I n d & L o u is v ille _______
Cine N ew O rleans & T ex a s P a c .
C o lo r a d o & S o u th e r n ___________
D en v er & R io G ra n d e__________
D e tro it & M a c k in a c ____________
D e tro it T o le d o & I r o n t o n _____
A n n A r b o r ____________________
D u lu th S o u th S h ore & A t la n t ic .
G ra n d T r u n k o f C a n a d a _______
G rand T r u n k W e s te rn _____
D e tr o it Gr H a v & M Ilw ____
C a n ada A t la n t ic ........................
In te r n a tio n a l & G reat N orth ern
In te r o ce a n lc o f M e x ic o _________
I o w a C en tra l____________________
K an sas C ity M e x ico & O r ie n t . .
L o u is v ille & N a s h v ille __________
M in eral R a n g e ...................................
M in n eapolis & S t L o u is ...............
M inn S t P a u l & S S M _________ 1
C h ica go D iv is io n ____________ J
M issouri P a c ific _________________
M o b ile & O h io ___________________
N a tion a l R a ilw a y s o f M e x i c o . .
N e v a d a -C a lifo r r iia -O r e g o n ______
S t L ou is S o u th w e s t____________
S e a b o a r d A ir L in e _______________
S o u th e r n R a ilw a y _______________
T e x a s & P a c lflo _________________
T o le d o P e o ria & W e s te rn ----------T o le d o S t L o u is & W e s t e r n ------W a b a s h ................................................
1909.
In crea se. D ecrease.
$
86,906
64,357
192,286
285 ,900
2 ,0 6 5 ,0 0 0
288 ,000
2,047
598,543
332,914
280 ,027
105,051
179,747
329,051
4 33 ,900
19,414
33,885
4 0 ,9 7 3
5 2,362
$
83,472
51,630
166,550
253 ,700
1 ,8 73,000
257 ,200
2,0 5 5
599,175
279 ,375
23 5 ,2 2 0
103,242
173,732
314,935
3 83 ,300
19,159
28,971
37,178
54,788
$
3,434
12,727
25,736
3 2 ,200
192,000
31,700
87 8 ,1 4 0
845 ,465
32,675
1 79 ,000
167 ,810
86,308
39 600
1 ,1 4 0 ,5 8 5
13,413
109,847
402,249
172,000
190,435
76,883
32,900
1,045,805
16,117
95,828
378,574
9,425
6,700
94,780
9 93 ,000
250 ,805
1,260,908
5,802
270 ,033
440 ,593
1,233,914
369,361
25,606
84,833
598,190
966,000
234 ,766
1,107,776
7,150
220,211
405,763
1,169,061
350,776
22,726
85,911
546 ,967
8
632
2,426
7,000
22,625
2,704
14,019
23,675
50,422
34,830
64,853
18,585
2,8 8 0
1,348
1,078
51,223
T o t a l (41 r o a d s ) ________ ______ 13,941,920 12,947,790 1,024,945
994,124
N et in crea se ( 7 .6 8 % ) ________
30,821
Net 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:
R oad s.
------- G ross E a rn ings----------------- N et E a rn in gs-------Current
P rev io u s
Current
P revio u s
Y ear.
Y ea r.
Y ea r.
Y ea r.
$
§
$
5
A la b a m a T e n n & N o r t h .N o v
11.659
7,2 1 6
5 ,615
3,959
J u ly 1 t o N o v 3 0 _______
4 5 ,8 9 0
3 1,337
22,347
16,237
A t c h T o p & S a n ta F e . b . N o v 9 ,9 8 3 ,0 6 8 9 ,6 2 8 ,5 2 9 J3,7 72 ,170 1 3 ,618,274
J u ly 1 t o N o v 3 0 _______ 4 6 ,0 7 4 ,2 1 3 4 4 ,5 0 7 ,7 6 5 /1 7 ,271,005 /1 6 ,953,259
B u ffa lo R o c h & P i t t s _ b -N o v
783 ,010
770 ,604
282 ,419
304,820
J u ly 1 t o N o v 3 0 _______ 4 ,1 5 2 ,8 6 3 4 ,0 0 2 ,8 7 6
1,581,379
1 ,594,188
C a n a d ia n N o r th e r n ______ N o v 1 ,5 6 5 ,4 0 0
1,51 7 ,5 0 0
558 ,900
547 ,400
J u ly 1 t o N o v 3 0 _______ 6 ,7 9 1 ,2 0 0
5 ,6 2 9 ,1 0 0
2 ,1 3 1 ,8 0 0
1,773,600
9 ,0 7 5 ,9 6 4
3 ,7 3 7 ,1 2 2
3 ,0 9 2 ,3 3 8
C a n adian P a c i f l c . a _____ N o v 9 ,4 1 3 ,2 3 8
J u ly 1 t o N o v 3 0 _______ 4 7 ,0 8 2 ,4 6 8 4 1 ,7 1 0 ,7 5 4 19,330,174 16.954,454
C en tral o f G c o r g l a .a ____ N o v 1,19 0 ,5 4 3
1,117,427
(1384,398
(1358,523
J u ly 1 t o N o v 3 0 . ........... 5 ,4 8 0 ,4 9 4
5,17 4 ,3 1 9 (11,558,914 (11,595,580
C h ica g o G reat W e s t . b . - N o v 1,10 7 ,5 8 3
1 ,0 6 4 ,2 5 3
28 3 ,3 5 8
367,166
J u ly 1 t o N o v 3 1 _______ 5 ,5 3 8 ,5 6 3
5 ,0 3 8 ,7 1 7
1 ,5 6 6 ,5 4 7
1,551,695
C olo r a d o & S o u t h e r n .b . N o v 1 ,569,474
1 .5 7 0 ,5 4 5
626 ,816
651,104
J u ly 1 t o N o v 3 0 _______ 7 ,5 6 5 ,9 0 8
7 ,2 3 5 ,9 3 7 2 ,7 4 7 ,2 0 6
2 ,8 3 1 ,8 5 7
D e tro it & M a c k in a c .a . . N o v
9 0 ,2 8 5
88,770
2 3,557
16,926
J u ly 1 t o N o v 3 0 . ...........
508 ,698
514,071
151,378
139,627
E r i e . a --------------------------------N o v 4 ,8 1 8 ,0 0 7 4 ,9 7 0 ,9 9 3
1,340,290
1,677,870
J u ly 1 t o N o v 3 0 _______ 2 5 ,0 4 9 ,6 5 5 2 5 ,8 7 1 ,5 3 5 7 ,3 0 9 ,4 5 9
7,14 8 ,0 9 3
F a irch ild & N o r t h e a s t .b .N o v
2,269
2,212
1,019
1,054
J u ly 1 t o N o v 3 0 _______
10,285
9 ,7 1 5
d e f8 ,0 5 3
d cf4 ,1 4 6
F o n d a , J oh n s & G l o v . a . N o v
7 2 ,290
66,191
3 4 ,696
32,880
J u ly 1 t o N o v 3 0 _______
42 8 ,4 5 6
3 87 ,857
2 38 ,323
214,730
300 ,134
286,481
96,526
92,770
G eorg ia R R . b ____________ N o v
J u ly 1 t o N o v 3 0 _______ 1,348,343
1,302,171
339 ,718
307,881
g In te r o ce a n lc o t M e x ic o .N o v
6 96 ,196
646,669
231 ,405
189,073
J a n 1 t o N o v 3 0 ............. 3 ,5 5 6 ,3 9 2
3,31 5 ,6 8 8
1,29 2 ,9 6 4
1,043,110
I o w a C e n tr a l.a __________ N o v
311 ,095
3 08 ,350
* 7 3 ,6 9 6
* 8 6 ,0 2 7
J u ly 1 t o N o v 3 0 _______ 1 ,500,181
1,47 0 ,4 5 0
*3 2 1 ,4 6 5
*3 7 3 ,3 8 2
L ou isia n a & A r k a n s a s .a -O c t
113,838
111,456
32,251
4 1 ,968
J u ly 1 t o O ct 3 1 _______
47 7 ,3 8 6
42 7 ,8 2 0
161,500
150,010
M Inneap & S t L o u l s . a .- N o v
43 9 ,0 3 5
4 92 ,127
* 9 9 ,4 9 8
*15 9 ,1 8 8
J u ly 1 t o N o v 3 0 _______ 2 ,3 6 5 ,0 7 8 2 ,3 1 8 ,7 3 7
* 7 0 2 ,2 4 3
*81 7 ,8 9 3
0
N a t R y s o f M e x l c > . .. _ N o v 5 ,2 47,962 4 ,9 4 6 ,8 3 5 2 ,2 0 5 ,9 0 7
1,870,881
J u ly 1 t o N o v 3 0 _______ 20,573,301 2 3 ,1 4 9 ,8 6 7 11 ,0 1 2 ,6 8 5
8,788,815
N e v a d a -C a l-O r c g o n .b . . N o v
2 7 ,907
37,405
7,224
18,301
J u ly 1 t o N o v 3 0 _______
179,619
2 33 ,400
7 9 ,429
135,203
N Y S u sq & W e s t .a _____ N o v
3 06 ,952
30 7 ,8 0 7
101,816
90,269
J u ly 1 t o N o v 3 0 _______ 1,553,088
1,436,179
4 57 ,497
384,418
N o rth e rn P a c i f i c . b ______ N o v 5 ,9 7 2 ,7 4 6 6 .6 9 0 ,4 3 5
2 ,7 8 0 ,2 7 3
2 ,8 80,354
J u ly 1 t o N o v 3 0 ..............31 ,4 6 4 ,7 0 3 3 5 ,6 8 1 ,8 0 2 13,48 3 ,5 0 6 16,285,530
■Raleigh & S o u t h p o r t .b .N o v
13,419
14,326
4 ,643
6,668
J u ly 1 t o N o v 3 0 _______
65,567
63,861
2 1 ,1 6 7
25,489
R e a d in g C o m p a n y —
P h lla & R e a d i n g . ! } . . . N o v 4 ,1 4 8 ,9 9 1
4 ,0 0 0 ,8 4 8
1 ,4 6 6 ,3 2 8
1,573,592
J u ly I t o N o v 3 0 _______ 19,041,129 18,344,232
6 ,6 9 3 ,4 2 3 7 ,1 2 9 ,9 1 0
C oal & Ir o n C o . b _____ N o v 3 ,8 7 4 ,0 4 9 3 ,5 3 2 ,0 3 5
2 7 9 ,9 9 5
247 ,376
J u ly 1 t o N o v 3 0 ________ 12,553,088 12,39 2 ,0 3 5 d c f7 3 ,8 0 8
272 ,355
T o ta l b o th c o s . b ______ N o v 8 ,0 2 3 ,0 4 0 7 ,5 3 2 ,8 8 3
1,746,323 1,820,968
J u ly 1 t o N o v 3 0 ________ 3 1 ,5 9 4 ,2 1 7 3 0 ,7 3 6 ,2 6 7 6 ,6 1 9 ,6 1 5 7 ,4 0 2 ,2 6 6
R e a d in g C o m p a n y ___N o v
.
..
151,024
150,985
J u ly 1 t o N o v 3 0 _______ __________
__________
7 32 ,856
7 39 ,390
T o ta l all c o s ---------------- N o v .................................... ..
1 ,8 9 7 ,3 4 7
1,971,953
. J u ly 1 t o N o v 3 0 _______ __________
_________
7,35 2 ,4 7 1
8 ,1 4 1 ,6 5 5
R i o G rande J u n c t io n ____ O ct
9 5 ,567
112,708
* 2 8 ,6 7 0
* 3 3 ,8 1 2
D e c 1 t o O ct 3 1 _______
9Q8.743
878,212
* 2 8 1 ,6 2 3
* 2 6 3 ,4 6 4
R o c k Isla n d L i n e s . b ____ N o v 6 ,1 9 2 ,8 8 8
5 ,8 7 3 ,9 6 6
2 ,1 3 3 ,7 7 8
1,725,464
J u ly 1 t o N o v 3 0 _______ 30 ,4 7 5 ,5 4 8 29 ,6 5 1 ,0 3 6 9 ,2 3 1 ,6 6 8 1 0 ,077,074
S t L o u l s & S a n I-’r a n . b . - N o v 4 ,0 3 3 ,9 8 8 3 ,7 9 2 ,5 2 7
1,174,318
989 ,029
5,410,684
J u ly 1 t o N o v 3 0 _______ 18,855,534 18,120,167 6 ,0 0 1 ,3 3 4
C h icago E a stern 111.b N o v 1,12 9 ,3 5 9
1 ,0 7 2 .5 1 6
321,124
3 63 ,495
'
J u ly 1 t o N o v 3 0 _______ 5 ,4 0 7 ,6 5 9
4 ,9 7 2 ,1 0 5
1.715,833
1,806,428
: E v a n s v ille & T o r II b N o v
2 2 5 ,0 7 7
224 ,219
77,561
91,925
* J u ly 1 t o N o v 3 0 ----------- 1 ,2 0 7 ,3 1 3
1 ,0 8 5 ,9 9 8
466 ,208
46 9 ,8 5 5
f T o t a l all l in e s .b ---------- N o v 5 ,3 8 8 ,4 2 5
5,08 9 ,2 6 3
1,573,004 1.44 4 ,4 5 0
J u ly 1 t o N o v 3 0 ................2 5 ,4 7 0 ,5 0 7 2 4 ,1 7 8 ,2 7 0 8 ,1 8 3 ,3 7 6 7 ,6 9 5 ,0 6 7
— G ross E a rn in gs--------N e t E a rn in g sP rev io u s
Current
Current
P rev iou s
Y ear.
Y ear.
Y ea r.
Y ea r.
$
$
$
5
4 ,4 6 5 ,1 4 0
4 ,9 7 1 ,0 3 2
N o v 1 2 ,1 9 8 ,6 4 2 12,32 4 ,0 2 6
159,571,259 58 ,6 3 5 ,9 4 7 2 1 ,7 4 9 ,0 5 5 23,400,221
1,778,888
1,88 2 ,6 4 9
. N o v 5,35 1 ,6 2 2
5 ,0 8 9 ,2 4 5
8 ,3 6 8 ,6 1 7
8,64 2 ,6 5 1
_____ 25 ,6 6 6 ,1 3 5 2 4 ,2 5 5 ,8 0 6
121,237
108,336
A la b a m a G reat S o u . b> N o v
382,239
368,682
48 1 ,5 2 0
J u ly 1 t o N o v 3 0 _______ 1 ,8 8 9 ,1 2 5
574 ,455
1,653,682
310 ,478
Cin N O & T P a c . b ___N
.N oovv
808 ,306
2 56 ,567
7 97 ,745
1 ,3 5 7 ,9 5 4
J u ly 1 t o N o v 3 0 _______ 4 ,0 0 1 ,1 3 3
3 ,6 8 4 ,7 5 6
1 ,6 1 0 ,2 8 0
62,442
G eorgia S ou & F l a . b . N o v
2 09 ,587
220,719
54,360
J u ly 1 t o N o v 3 0 . ..........
998,841
2 5 7 ,7 2 5
957 ,715
248,633
T o m b lg b e e V a lle y _______N
. N oovv
7,759
2 ,7 1 6
7,712
2,736
J u ly 1 t o N o v 3 0 _______
35,238
32,835
10,962
12,790
_ N o v 8 ,5 6 6 ,6 4 3
8 ,3 4 1 ,7 8 3
4 ,2 0 4 ,1 4 0
4,004,211
_____ 4 2 ,4 7 8 ,0 6 5 4 0 ,8 1 6 ,0 0 5 19,05 2 ,0 7 6 2 1 ,2 0 0 ,9 3 7
. N oovv
126,626
105,425
3 6 ,103
V irg in ia & S o u t h w .b ___N
39,631
J u ly 1 t o N o v 3 1 .
553,213
522,206
1 79 ,047
189,990
W e s te rn M a r y la n d .a .
651 ,866
6 07 ,697
r 2 2 1,078
r 2 2 1 ,7 3 7
2 ,3 4 0 ,7 4 3
r 8 8 2 ,4 3 3
J u ly 1 t o O ct 31.
2,65 5 ,2 2 2
r996,769
66,088
5 0 ,3 9 3
124,623
84,201
W ich ita F alls & N W . b>. O
.Occtt
175,912
192,573
12 2 ,3 2 5
308,841
J u ly 1 t o O ct 31.
1 1,495
10,317
229,982
N o v 220,691
W r lg h ts v & T c n n ll l e .b ..N
53,947
5 9,600
2140,498
J u ly 1 t o N o v 3 0 _______ 2135,601
Roacls.
__
__
$
53,539
4 4 ,807
1,809
6,015
14,116
50,600
255
4,914
3,795
27,000
16,039
03,192
[VOL. LXX X XI
__
I N D U S T R I A L C O M P A N IE S .
— —G ross E a rn in g s------------ -— N et E a rn in gsr
Current
P rev iou s
Current
P rev io u s
Y ea r.
Y ear.
Y ea r.
Y ea r.
C om pa n ies.
$
$
$
%
3 5 7 ,8 0 5
1,98 0 ,4 8 6
1 ,6 6 3 ,8 8 5
3 95 ,136
A m e r E x p re ss C o . b ____ S ep 1,980,486
748
,371
7 90 ,635
4 ,5 9 2 ,6 6 6
J u ly 1 t o S ep 3 0 _______ 5,399,592
253,061
604,288
560,032
259 ,588
C u m b erla n d T e l & T C o b N o v
2 ,5 2 5 ,8 9 5
2 ,7 1 3 ,3 4 0
J a n 1 t o N o v 3 0 _______ 6,295,371
5,85 2 ,9 8 6
42 0 ,9 7 7
g M e x ica n L t & P o w C o .N o v
673,604
523,451
5 2 5 ,6 1 9 '
2 ,6 0 3 ,9 2 2
Jan 1 t o N o v 3 0 _______ 6 ,4 98,048
4 ,6 2 7 ,9 5 4
5,47 6 ,6 7 0
2 7 4 ,8 3 6
W cll3 F a rg o E x p r e s s .b . .S e p 1,150,514
1,221,914
2 55 ,156
J u ly 1 t o Sep “
7 56 ,692
3-----,2 8-4 ,7 3 2
3 ,6 2 3 ,6 5 3
602 ,914
a N et earnings here given are after d e d u ctin g taxes.
b N et earnings here given arc be fo re d e d u ctin g taxes.
d In N o v . 1910 net fro m o u tsid e op e ra tio n s w as $6,846, again st $6,571 last
y e a r, an d fro m J u ly 1 t o N o v . 30 w as $ 34 ,270 th is ye a r, against $ 3 2 ,8 2 3 .
g T h ese results are In M e x ica n c u rre n cy .
* F o r N o v e m b e r 1910 a d d itio n a l In com e Is g iv e n as s h o w in g a d eficit o f
$ 1 0 ,0 1 6 , again st a d e ficit o f $2,164 In 1909, and fo r period fro m J u ly 1 t o
N o v . 30 w as a cre d it o f $ 11 ,629 in 1909, again st a d e ficit o f $777 last y e a r .
j T h e c o m p a n y n o w incluu es th e earnings o f th e A t c h . T o p . & S a n ta F c
R y ., G ulf C o lo . & S a n ta F c R y ., E a ste rn R y . o f N ew M e x ico S y s te m ,
S a n ta F e P r e s c o tt & P h o e n ix R y ., S o u th e rn K a n sa s R y . o f T e x a s , T e x a s
& G u lf R y ., G. & I . R y . o f T . a n d C. S. S . & L . V . R R . In b o th yea rs.
F o r N o v e m b e r ta x e s a m o u n te d t o $2 4 1 ,8 3 5 , again st $32 7 ,6 2 0 In 1909; a fter
d e d u ctin g w h ic h , net fo r N o v . 1910 w as $ 3 ,5 3 0 ,3 3 5 , against $ 3 ,2 9 0 ,6 5 4 la st,
year.
F o r p eriod fro m J u ly 1 t o N o v . 30 ta x e s w ere $ 1 ,4 4 4 ,7 8 6 In 1910,
a gain st $1 ,4 9 8 ,5 8 9 In 1909.
fc F o r N o v . 1910 a d d itio n a l In com e w as $9 ,6 8 9 , aga in st $9,171 In 1909,
a n d fo r p e rio d fro m J u ly 1 t o N o v . 30 w as $43,871 In 1910, against $82 ,462
last y e a r .
n T h ese figures represen t 3 0 % o f gross earn in gs.
r A fte r allo w in g fo r m iscellaneous re ce ip ts an d net fro m c o a l and oth er
d e p a rtm e n ts , to ta l net earnings fo r O ct. 1910 w ere $ 2 3 8 ,1 2 7 , again st
$27 6 ,8 1 0 in 1909: and fro m J u ly 1 to O ct. 31 w ere $1 ,0 7 0 ,8 2 7 In 1910,
again st $ 1 ,051,878 in 1909.
•
• z In clu des S100 o th er in co m e fo r N o v . 1910, aga in st $128 In 1909, a n d for
p e rio d fro m J u ly 1 t o N o v . 30 in clu d es $438 in 1 91 0, again st $552 last y ea r.
Interest Charges and Surplus.
— I n t., R entals, & c .—
D al. o f N et E a r n s .—
C u rrent
P reviou s
Current
P rev iou s
Y ea r.
Y ear.
Y ea r.
Y ea r.
$
$
# 1 6 6 ,4 3 4
B u ff R o c h & P lt t s b _____N o v
169,210
# 1 7 5,23 7
175,754
# 8 9 2 ,5 0 8
J u ly 1 to N o v 3 0 .............
883 ,439
83 2 ,5 0 6 # 1 ,0 5 3 ,3 2 0
#15 4 ,7 0 2
211 ,829
#73 ,281
220 ,806
C h ica g o G reat W e s t e r n .N o v
# 3 5 7 ,1 0 5
1,209,799
# 5 7 7,56 9
J u ly 1 t o N o v 3 0 _______ 1,042,332
C429.609
256 ,529
C345.869
269 ,100
C o lo r a d o & S o u th e r n ___ N o v
1,274,653
c
l
,
41
5
,7
2
2
C
l,705,161
J u ly 1 t o N o v 3 0 ............. 1,351,362
59,572
#4 3 ,0 5 1
#4
2
,4
5
5
62,588
G e o rg ia R R ______________N o v
30 1 ,5 8 7 # d cf6 ,6 3 1
#11 1 ,2 3 1
38 9 ,1 3 1
J u ly 1 t o N o v 3 0 .............
2 3 ,096
# 2 8 ,4 1 3
25,334
#1 6 ,8 4 2
L o u isia n a & A r k a n s a s ___ O ct
91.801
#9 3 .3 4 5
• J u ly 1 t o O ct 3 1 _______
106.751
# 9 0 .1 4 9
3,721
4,274
# 1 5 ,8 4 4
N e v a d a -C a l-O r e g o n ------- N o v
# 4 ,1 0 0
18,081
21,293
#12 2 ,0 8 4
J u ly 1 t o N o v 3 0 _______
#6 2 ,4 0 9
899,971
885 ,000
1,01 2 ,3 4 7
1 ,0 71,982
R e a d in g C o m p a n y ______ N o v
2,927,471
J u ly 1 t o N o v 3 0 _______ 4 ,4 2 5 ,0 0 0 4 ,4 9 9 ,8 5 5
3 ,6 4 1 ,8 0 0
8,333
8,333
20,337
R io G rande J u n c t io n _____O ct
25,470
91,667
9 1 ,667
189,056
171,797
D e c 1 t o O ct 3 1 _______
R oads.
I N D U S T R I A L C O M P A N IE S ,
— I n t., R en tals, ifee.— ■—D a l. o f N et E ’n g s .—
Current
P revio u s
Current
P rev iou s
Year.
Year.
Y ea r.
Y ea r.
C om pa nies.
S
$
$
$
56,518
40,742
C u m b erlan d T e l & T C o .N o v
2 03 ,070
2 12 ,319
539,924
464,963
2 ,1 9 1 ,4 1 6 2 ,0 0 0 ,0 3 2
Jan 1 t o N o v 3 0 _______
c A fte r allow in g fo r m iscellaneous ch arges and cre d its to In co m e .
# A fte r allo w in g fo r o th e r In com e re ce iv e d .
•
ELECTRIC RAILW AY AND TRACTION COMPANIES.
A/r/1
71o /-}
iv
u7
rrio
ujf
Road.
A m e rica n R y s C o ____
c A u E lgin & C h ic R y
B a n g o r R y & E lec Co
B a ton R o u g e E lec Co
B in gh am tp n Ity __
B r o c k t ’ n <* Ply St R y
B k ly n R a p T ra n S y s .
C ape B reton E le c C o.
Carolina P ow & Lt Co
C en t P a rk N & E R iv
Central Penn T r a e . . .
C h a tta n o o g a R y & L t
C h icago R y s C o _____
C lc v c P a ln esv & E ast
C o n e y Isl & B r o o k ly n
D allas E le ctric C o r p .
D e tro it U n ited R y .
D D E B & B at (R e c)
D u lu th -S u p e rio r T ra c
E a st S t L ou is & S u b .
El P a so E le c t r ic _____
Falrm & Clarks T r Co
F t W a y n e & W abash
V a lle y T r a c tio n Co
Latest Gross E a rn ings.
Week or
M o n th .
Current
Year.
Previous
Y ear.
J a n . 1 to latest date.
Current
Y ea r.
P reviou s
Year.
5
$
$
5
N o v e m b e r . 307 ,375 206,087 3 ,5 8 6 ,5 3 3 3 ,3 2 1 ,5 9 8
N o v e m b e r . 132,508 122,789 1 ,548,353 1,418,857
4 90 ,096
N ovem ber.
518,122
46,346
45,427
79,686
9,1)98’
89,425
O c to o e r . .
8,937
28,462
O cto b e r . .
27,788
114 ,155
103,927
O cto b e r . .
10,253
9,797
S e p te m b e r 1882,376 1819,180 16,155,852 15,52 6 ,6 8 5
247,558
210 ,157
O cto b e r . .
30,495
27,253
200,611
223,050
20.002
21,379
N ovem ber.
478,481
445 ,343
53,500
S e p te m b e r
56,001
707,376
687,747
60,227
65,902
N o vein her.
799,419
7 07 ,165
64,811
7 0,480
N ovem ber.
O c t o b e r ___ 1250,923 1109,640 10,265,252 0 ,2 9 8 ,3 9 4
301 ,199
29,467
271,673
31,818
O cto b e r . .
145,724 137,157 1,172,947 1,162,578
S e p te m b e r
165,371 147,838 1,202,984 1,079,139
O cto b e r . .
2d wk D ec 156,144 138,524 8,840,671 7 ,5 8 8 ,0 4 9
50,588
463,212
52,189
471,233
S ep tem ber
85,509
90,309
996,315
8 96 ,346
N ovem ber.
N o v e m b e r . 194,974 177,712 2,16 1 ,3 2 8 1,85 0 ,5 6 5
58,347
55,172
4 85 ,222
515,504
O cto b e r . .
58,504
41,433
3 87 ,874
504,497
O cto b e r . .
O cto b e r . .
131,360
122,806
1,266,086
1 ,1 6 1 ,1 5 6
Dec. 31 1910. j
T H E C H R O N IC LE
Latest Gross E a rn in g s.
N a m e 0}
R oad.
W eek or
M on th .
4 2 d S tM & S N A v (U ec)
G a lv -H o u s E lect C o .
G rand R a pid s R y C o .
H a v a n a E lectric R y _
H o n o lu lu R a p id T ran
& Hand C o -------
Current
Y ea r.
5
132,501
113,476
88,370
43,603
S e p tem ber
O cto b e r _ .
N ovem ber
W k D ec 25
J a n . 1 to latest date.
Previous
Y ear.
Current
Y ear.
P recio u s
Y ear.
5
130,648
102,014
80,327
40,291
$
1 ,062,470
1,079,012
1,030,304
2 ,124,011
5
996,332
090,019
938,808
1,988,753
O cto b e r . .
39,118
341,989
36,375
373 ,075
208,908
O cto b e r . .
20,192
26,5 13
263 ,642
S ep tem b er
200 ,015 159,430 1,860,794
O c t o b e r ..
014 ,475 509,171 5 ,018,805 4,3 7 9 ,3 2 5
S e p te m b e r 1023,183 1075,521 10,173,112
S e p te m b e r 1240,390 1210,714 11,310,081
392,154
471,781
O cto b e r __
41.567
4 8 ,307
N ovem ber. 64 1,410 007,167 0 ,833,950 6 ,304,210
929 ,316
94,255 1,018,739
O cto b e r
_ 105,075
1 18,740
161,081
17,825
20,209
S e p te m b e r
S e p te m b e r 1188,973 1203,088 10,574,199 10,359,378
N ovem b er. 407,173 378,540 1,270,808 3 ,8 7 1 ,7 8 0
075 ,856
73,127
856 ,952
79,8 18
N ovem ber.
N o v e m b e r . 306,098 334,871 4,0 7 8 ,8 9 5 3,6 2 8 ,6 4 3
N o v e m b e r . 158,739 149.420 1,662.093 1,565,102
N o v e m b e r . 543.640 534,370 5 ,706,423 5 ,5 0 7 ,2 2 5
1(5,556
167,754
21,392
127,491
S eptem ber
35,549
282,728
39,621
202 ,3 6 0
S e p tem ber
100,981
91,910
849 ,744
748,281
S eptem ber
170,137
N o v e m b e r . 189,705 175,743 2 ,235,453 1 ,994,729
154,007 135,697 1,195,575 1,045,816
O cto b e r . .
N o v e m b e r . 187,054 178,938 2,0 2 1 ,0 1 2 1,880,791
S e p tem ber
1 1,772
10,563
100,254
97,542
O cto b e r ._
18,92 1
20,949
O cto b e r . .
23,050
21,027
223,114
205,077
N o v e m b e r . 498,953 411,001 5,1 0 8 ,0 2 7 4 ,3 3 5 ,3 5 6
O cto b e r . .
101,700 170,199 1,007,034 1,581,080
32,423
S e p te m b e r
31,373
266 ,833
202 ,067
Illin ois T r a c tio n C o . .
In te r b o r R T ( S u b ) . .
In te r b o r R T ( E l c v ) .
J a ck son v ille E lect Co
K ans C ity R y & Lt O
L a k e S h ore E lec R y
L o n g Isla n d E lectric
M e tro p o lita n S t (R e c )
M lliv El R y & L t C o.
Alilw L t l i t & T r C o .
M on treal Street R y . .
N ash ville R v ft L ight
N e w O rleans R y & L t
N Y C ity I n t e r b o r o ..
N Y & L o n g Island T r
N Y & Q ueens C ou n ty
N o rf & P ortsm T r Co
N o rth O h io T r a c & L t
N orth T ex a s E lec C o .
N orth w est E lec C o . .
O cea n E l e c t r ic ---------P a d u ca h T r & L t C o .
P en sa cola E lectric Co
P o r t ( O r c )R y ,L & P C o
P u get S ou n d Elec C o .
R ic h m o n d L t & H R .
R io d e Jan eiro T ra m
L ig h t & P ow er C o . N o v e m b e r . 940 ,006
St Josep h (M o) R y L t
H eat & P ow er C o . . N o v e m b e r.
87,644
S a o P a u lo T r L t & P . N o v e m b e r . 259 ,390
S a v an n ah E lectric Co O cto b e r . .
53,794
S ea ttle E lectric C o ___ O cto b e r . . 469 ,033
S e c o n d A v e n u e (R ec) S ep tem b er
82,267
S ou th ern B o u le v a r d . S e p te m b e r
11,437
S ou W iscon sin R y Co \0vein tier _
14,298
S ta ten Isl M id la n d ___ S e p te m b e r
26,950
,T a m p a E le ctric C o . . O c t o b e r .
43,254
T h ir d A v e n u e ( R e c ) . S e p te m b e r
293 ,945
T o le d o R y s <Sc L t C o . O cto b e r . . 258 ,820
T o r o n t o R y C o .......— O cto b e r . . 379,721
T w in C ity R a p T r a n . 2d w k D ec 141,127
U n d ergrou n d El R y
o f L on d on —
T h ree tu b e lin es ___ W k D e c 24 £ 1 4 ,4 3 0
M e tro p o lita n D ls t . W k D ee 24 £ 1 1 ,8 8 2
£ 6 ,1 9 2
U n ited T r a m w a y s . W k D ec 24
203 ,070
U n ion ( R e c ) _________ S e p te m b e r
U n ion R y ,G & E C o (III • O cto b e r . . 284 ,293
U n ited R R s o f San Fr N o v e m b e r . 033,018
50,407
W c s tc h e s E lec ( R e c ) . S e p te m b e r
W h a tc o m Co R y it Lt O ctob er . .
35,620
58,744
Y o n k e rs R R ( R e c ) . . S e p tem ber
632,568
9 ,9 4 5 ,0 4 0
6,8 8 5 ,2 5 8
82,290
221,064
50,018
54 1,077
76,2 7 1
8,856
13,522
27,367
50,759
260 ,814
239 ,375
332.977
134,136
912 ,007
2,665,591
521,977
887,400
2,202,481
502.430
632,734
83,077
163,895
209 ,350
502,459
2,0 7 2 ,7 6 2
2 ,4 3 7 ,4 0 7
3 ,5 7 5 ,0 5 9
7,1 0 2 ,4 9 2
041,170
67,923
147,583
208 ,115
487 ,013
2 ,2 6 8 ,0 8 0
2,220,81 1
3,1 00,208
6,0 1 2 ,5 5 2
£ 1 3 ,0 9 5
£ 1 0 ,6 4 7
£ 5 ,0 9 2
179,223
200 ,203
019,313
44,810
35,072
£ 6 5 9 ,4 7 5
£ 6 5 3 ,9 8 8
£ 3 1 7 ,7 0 8
1,091,849
2 ,4 2 1 ,8 8 9
0,0 7 1 ,1 3 3
402,857
334 ,910
£ 0 4 8 ,9 2 0
£ 5 0 8 ,2 9 4
£ 3 0 5 ,1 9 3
1,53 1,949
2 ,2 8 2 ,9 8 7
0,810,1 18
333,611
330,802
c T h ese figures are fo r c o n s o lid a te d c o m p a n y .
Electric Railway Net Earnings.— The following table gives
the returns of ELECTRIC railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Dec. 24 1910. The
next will appear in the issue of Jan. 2.3 1911.
-G soss E a rn in g s—
Current
P reviou s
Y ear.
Y ear.
R oads.
S
s
-N e t E a rn in g s P reviou s
Current
Y ea r.
Y ear.
S
.
_
A u ro r a E lgin & C h i c . b . - N o v
132.508
122.789
58,080
8 09 ,583
740 .8 0 5
J u ly 1 t o N o v 3 0 _________
391,112
B a n g o r R y & E lc c C o . b . N o v
4 6 .346
45,427
27,759
J u ly 1 t o N o v 3 0 _________
2 02 .817
255,477
156,092
C h a tta n o o g a R y & L t . b . N o v
70,480
04,811
34,154
J a n 1 t o N o v 3 0 ................
799 ,110
707 ,105
391 ,985
C om m on w ea lth l ’ o w . R y & L t Co (G ra n d R a p i d s ) . b —
431 ,851
401 ,2 1 9
212 ,109
N o v e m b e r . . . ___
J a n 1 t o N o v 3 0 . ............ 4 .5 1 3 ,5 6 5
3 ,9 0 1 ,8 5 0 2 ,1 8 9 ,7 5 7
D e tr o it U n ited R y . b . - . N o v
739 ,982
076 ,482
201 ,678
J a n 1 t o N o v 3 0 . ............ 8 ,5 7 7 ,4 1 6
7 ,3 5 1 ,3 9 0 3 ,0 9 0 ,6 2 9
D u lu th -S u p e rio r T r C o . b N o v
90,309
8 5 ,509
42,581
J a n 1 to N o v 3 0 ..............
9 9 6 ,3 1 5
8 90 ,340
437 ,470
H u d s o n V a lle y R y C o . b —
J ul y 1 t o S e p t
30
231 ,051
213 ,4 4 5
03,606
4 04 ,595
480 ,9 2 4
126,551
Jan 1 to S e p t
30
N ew O rl R y & L t C o . a . N o v
5 4 3 ,6 4 0
534 ,3 7 6
216,578
Jan 1 to N o v 3 0 .............. 5 ,7 0 6 ,4 2 3
5,5 0 7 ,2 2 5 2 ,1 5 1 ,7 0 0
N or O h io T r & L t C o . . . N o v
189,705
175 ,743
78,087
J a n 1 t o N o v 3 0 _______ 2 ,2 3 5 ,4 5 3
1,9 9 4 ,7 2 9 1,001,500
P h ila d elp h ia Co (P itts) a N o v 1 ,703,422
1 ,707,016
700 ,709
A p r 1 to N o v 3 0 ..............1 3 ,191,163 1 2 ,1 9 5 ,2 0 0 5,5 8 1 ,8 8 1
T w ill C ity R a p T ra n Co b N o v
619 ,149
580 ,7 9 5
289 ,417
0 ,3 5 4 ,1 7 7 3 ,5 0 8 ,2 9 4
:■
J a n 1 t o N o v 3 0 .............. 0 ,8 8 4 ,8 7 5
U nited R R s o f S an F r . a .N o v
633,018
0 1 9 ,3 1 3
246,153
Jan 1 t o N o v 3 0 ............ 6 ,9 7 1 ,1 3 3
6 ,8 1 0 ,1 1 8 2 ,0 3 4 ,6 8 8
a N et ea rn in gs here g iv e n are a fter d e d u c tin g taxes,
b N et earnings here g iv e n arc b efore d e d u ctin g ta x e s .
S
53,203
368 ,696
27,0 9 1
152,249
28,409
297,981
199,804
1,9 3 1 ,4 1 9
235 ,7 3 2
2 ,7 3 0 ,6 0 7
38,085
3 07 ,435
74,309
117,479
207,554
2 ,0 0 7 ,0 6 3
75,770
900 ,2 2 7
744,122
4,8 3 0 ,4 9 1
307,751
3,371,391
220,043
2 ,5 9 1 ,5 7 3
Interest Charges and Surplus.
— I n t., R en tals, & c .— — lia l. o ] N et E 'n gs
P rev io u s
Current
Current
P reviou s
Year.
Year.
Y ea r.
Y ear.
5
S
S
5
A u ro r a E lgin & C h ic a g o .N o v
34,603
23,483
29,586
2 3 ,677
J u ly 1 t o N o v 3 0 _______
107,044
146,603
224,069
222 ,034
B a n g o r R y & E le c C o ___N o v
13,028
13,831
14,112
12,979
J u ly 1 t o N o v 3 0 ----------08,574
88,118
80,8 2 0
05,429
C h a tta n o o g a R y & L t Co N o v
24,120
10,034
22.237
0,232
258,722
J a n 1 to N o v 3 0 ----------133,203
60,402
237 ,519
C o m m o n w e a lth P o w . R y & L,t C o (G ran d R a p id s ) —
120,802
N o v e m b e r _____________
01,247
117,495
82,309
J a n 1 t o N o v 3 0 ----------- 1,352,559
837 ,198
1 ,300,795
630,024
174,312
D e tr o it U n ited R y _____ N ov
£1 0 2 ,3 0 8
£88 ,424
157,919
J an 1 t o N o v 3 0 _______ 1,863,862
1 ,728,399 £ 1 ,3 0 7 ,3 0 5 £ 1 ,1 4 5 ,3 4 2
24,060
D u lu th -S u p e rio r T r C o . . N ov
20,757
18,515
17,328
226,715
209,603
J a n 1 t o N o v 3 0 _______
210,701
157,832
H u d son V a lle y R y C o —•
67,509
58,261
J u ly 1 to S ep t 3 0 .............
£27 ,0 6 5
£ 1 0 ,9 3 8
196,586
177,308 £ d c f 5 8 ,107 £ d c f5 8 ,9 4 0
J a n 1 to S ep t 3 0 .............
43,367
43,4 0 0
N orth ern O h io T r a c & L t N ov
3 5 ,020
32,370
476 ,894
480 ,856
Jan 1 to N o v 3 0 _______
524,612
425,371
137,912
140,251
T w in C ity R a p T r a n ____ N o v
101,505
107,500
1,529,012
J a n 1 t o N o v 3 0 _______ 1 ,539,886
2 ,0 2 8 ,4 0 8
1,842,379
x A fte r a llo w in g fo r o th e r In com e r e c e iv e d .
R oads.
1763
N ew Y ork C ity Street R a ilw a ys— S eptem ber 1910.
Street R y . E x p en ses N et fr o m Other
In co m e
R even u e. & T a x es. O per’ n .
In c.
D ed u c’n s . S u rp .
$
$
$
$
$
$
I lu d & M a n h a tta n . 200 ,615
103,601
97,014
7 4 ,692 J 1 9 1 ,5 9 5 d f 19 ,889
I n t e r b o r o R T (S u b ). 1 ,023,183
435 ,7 7 9 587 ,404
27,891 396,832 218,463
I n t e r b o r o R T (E le v ) 1,240,396
654 ,914 585 ,482
1,585 4 85 ,942 101,125
B k ly n R T S y s t e m . 1,882,376 1,140,928 741 ,448
35,6 6 7 525,854 251,261
A lctrop St R y (U e c ) 1 ,188,973
816 ,289 372,684
15,572 218,149/1170,107
C ent P k N & E R iv
56,001
9,552
46,449
940
8,612
Secon d A v e (R e c ).
82,267
62,106
20,161
8,9 4 0 / i l l , 221
T h ird A v e ( R e c ) ___ 293 ,945
161,853 132,092
94 33,856 /198.330
D D E B y & B a t't(R e c )
52,189
42,398
9,791
8,389
h i , 402
42 d S tM & S tN (R e c ) 132,561
86,656
4 5 ,905
10,976 /i34,929
N Y C I n t e r b o r o ___
21,392
17,024
4,368
138
7 ,9 1 9 d e f 3 ,4 1 3
S o u th e rn B o u le v ’ d .
11,437
5,968
5,4 6 9
1,625
3,844
U n io n ( R e c ) _______ 203,076
50,406
16
18,386 h 32 ,0 9 6
152,610
W e s tch E l ( R e c ) . .
39,8 8 0
10,521
50,407
91
3,586 h 7,026
Y o n k e rs ( R e c ) ____
58,744
37,923
2 0 ,3 2 1
9,3 4 9 h l0 ,9 7 2
L o n g Isla n d E l e c . .
6,033
40
2,798
20,209
14,166
3 ,2 7 5
N Y & L I T r a c ____
39,621
5,832
2 5 ,7 3 7
13,884
46
8,098
N Y & Q ueens C o . . 106,981
89,588 1 17,398 — 188
2 0 ,9 5 8 d e f 3,753
O cea n E le c t r ic ____
11,772
7,046
4 ,7 2 6
2 ,2 4 0
2,486
C o n e y Isl & B k ly n . 145,724
92,028
53,696
6 2 4 ,1 3 5
29,567
R ic h m o n d L t & R R
32,423
23,286
9 ,1 3 7
16,067
11,232
13,972
S ta te n Isl M id ___
26,950
16,776
10,174
4,504
5 ,6 7 0
___
___
h In terest p e rm a n e n tly d e fa u lte d n o t d e d u c te d .
J In terest Is d e d u cte d o n ly o n " c a p it a l used In o e p r a t lo n .”
AN NUAL
REPO RTS,
Annual Reports.— The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since Nov. 20.
This index, which is given monthly, does n o t include re
ports in to-day’s “ Chronicle.”
Railroads—
Page.
Florida East Coast R y .................
1508
Grand Trunk R y. of Canada (state
ment of C h a irm a n )............. ........... 1442
Intcroceanlc R y. o f M exico........... 1441
Iowa Central R y ........... ........................1442
Mexican International R R ...1 4 5 6 , 1411
Minneapolis & St. Louis R R ............1508
Missouri Pacific R y __ ______
1705
•St. Joseph & Grand Island R y ____1707
Southern Pacific C o ........... ...... 1037, 1628
Toledo St. Louis it Western R R ____1441
Western Maryland R y ...............
1707
Wichita Falls it Northwestern R y ..l7 0 8
Electric Railroads—
Massachusetts Electric C om p a n ies..1570
Industrials—
Aeolian, Weber Plano & Pianola Co.
(bal. sheet June 30 1910)_________ 1573
Amer. Soda Fountain Co. (bal. sheet
Aug. 31 1910).................................1 5 7 3
Amer. Steel Foundries......................... 1443
Amer. Sugar Refining Co. (data from
bill of complaint in G ovt. s u i t ) ..1571
Indus1rials (Concluded) —
Pcga.
Armour C o...............................................1708
Booth Fisheries C o . . . ......................1 5 0 9
Canada Cycle & Motor Co., L td ____1510
Colorado Fuel & Iron C o .....................1444
Commonwealth Edison C o __________ 1444
Cuban-Amer. Sugar Co., N. Y ......... .1709
Econom y Lt. it Pow. Co., Joliet, 111.1508
Harblson-Walker Refractories, Pitts. 1510
Iron Steamboat Co. of N. J _________ 1444
Mich. & Lake Superior Co. (report
of bondholders' com m ittee)______ 1445
Morris & Co. of Chicago, 111_________ 1510
Nevada Consolidated Copper C o____ 1509
North Shore Electric C o.................... 1508
Realty Associates o f Brooklyn____ 1509
Standard Gas & Electric Co. (special
sta tem en t)....... ..................................1709
Southern Iron it Steel C o___________ 1573
United Fruit C o_____________ 1458, 1443
United States Bobbin & Shuttle Co.
(balance sheet Oct. 12 1910)____ 1511
Lehigh & Hudson River Ry.
30 1910.)
President Lewis A. Riley says:
{ R e p o r t f o r F i s c a l Y e a r e n d in g J u n e
G eneral R esu lts.— T h e gross earnings Increased 5 1 8 8 ,7 1 7 , o r 1 5 .0 7 %
o p e ra tin g e xp en ses increased 5 2 0 ,7 4 5 , o r 2 . 3 9 % . T h e reven u e fro m freig h t
a m o u n te d to 5 1 ,3 7 8 ,5 3 1 , an Increase o f 5 1 9 3 ,7 8 1 , o r 1 6 .3 6 % . T h e n u m b er
o f ton s carried o n e m ile Increased 2 2 .2 3 % . T h e a v e ra g e r e v e n u e per to n
m ile w as 5.64 m ills, a d ecrease o f 4 . 7 3 % . T h e re v e n u e fro m passenger
t r a ffic d ecreased 5 L 9 8 2 . o r 4 .2 8 % . T h e n u m b e r o f passengers carried on e
m ile d e cre a se d 6 .4 5 % . T h e a v e ra g e re ve n u e p er p assenger p er m ile w as
2 .4 0 ce n ts , an Increase o f .063 c e n t, o r 2 .7 8 % .
M a in ten a n ce.— E x p e n d itu re s fo r m a in te n a n ce o f w a y an d stru ctu res
w ere Increased 5 9 ,8 1 8 , o r 5 .6 6 % : 3 m iles o f 1 00 -lb. rail w ere laid: also 46,039
tics p laced (3,5 48 fo r new t r a c k ), as again st 46,474 tics in 1908-09.
T h e sum o f 515 5,11 5 w as ch arged fo r m a in te n a n ce o f e q u ip m e n t, an In
crease o f 2 .4 5 % ; 30 g o n d o la cars w ere co n d e m n e d an d s o ld , th e v a lu e o f
w h ich w as ch arged to p ro fit and loss; th e to ta l n u m b e r o f fre ig h t cars In
s e rv ice Ju n e 30 w as 561, h a v in g a c a p a c ity o f 21,6 7 0 to n s.
F in a n c ia l.— A p a y m e n t o f 5 40 ,000 w as m ade o n th e Issue o f e q u ip m e n t
tru st certificates, w hich n o w a m o u n t to 5 2 4 0 ,0 0 0 : th e o rig in a l a m o u n t o f
Issue w as 5 4 0 0 ,0 0 0 , fo u r y e a rly p a y m e n ts o f 5 40 ,000 each n o w h a v in g been
m ade.
P a ym e n ts o n lo c o m o t iv e rental n otes a m o u n tin g t o 598 ,577 w ere
m a d e , the a m o u n t n o w o u ts ta n d in g be in g 5 9 7 ,3 6 3 .
Bills p a y a b le d e
creased 5 3 5 ,0 0 0 — fro m 532 6,00 0 to 5 29 1,00 0.
T h e fo llo w in g a m o u n ts w ere e x p e n d e d fo r a d d itio n s an d b e tte rm en ts :
F o r Increased w eigh t o f rail, $ 4 ,5 0 3 ; tracks an d sw itch es, $ 9 ,1 6 6 ; a c c o u n t
fuel s ta tio n , W a r w ic k , N . Y . , $ 8,516; m a ch in e ry , fre igh t hou ses, & c., 512 .
815: a d va n ce s to S o u th E a sto n & P h llllp sb u rg R R . fo r a d d itio n a l tracks
a t H u d so n y a rd and fo r purch ase o f la n d ja t P h llllp s b u rg , N . J ., $ 2 8 ,6 0 4 .
C O M P A R A T IV E F R E IG H T T R A F F IC .
Ores.
A r f h .C o a l. B it. Coal. M e rc h ’ dise. M il k ,
190C-10, to n s .............. . 417 ,100
756,221
602,203 1 ,7 9 6 ,5 6 0
57,764
144,096 7 0 3 ,6 3 5
390 ,2 5 6
1 ,4 1 8 .2 4 5
53,751
1908- 09, t o n s .................
1907- 08, t o n s . . .
. 333 ,1 3 5 172,163
152,408 1 ,2 2 3 ,4 7 9
54,028
1 9 0 9 - 10, e a rn in g s-----5 1 6 1,49 0 $ 3 2 8,44 6
514 9,72 8
$00 6,29 4 $72,573
1908- 09, e a r n in g s __ 170,404
3 02 ,890
9 7 ,9 3 0
545 ,7 6 0
07,766
1907-08, e a rn in g s_____ 125 ,006
8 5 ,3 7 5
41,3 5 4
4 02 ,767
09,017
O P E R A T IO N S FO R Y E A R E N D IN G J U N E 30.
1909-10.
1907-08.
190 6-0 7.
1908-09.
173,097
Passen gers c a r r ie d _____
152,172
100,333
154,657
2,1 7 9 ,6 8 3
P a ss, carried o n e m i l e . .
1 ,849,054
1,970,610
1 ,9 2 5 ,0 2 7
2 .2 6 6 c ts .
R a te per pass, p er m ile .
2.40 c ts .
2 .2 9 6 Cts.
2.3 3 5 cts.
3,0 0 9 ,9 8 3
1,935,213
F re ig h t (ton s) c a r r ie d ..
3 ,0 2 9 ,8 4 8
1 ,974,859
11,986,219 1 0 9 ,766 ,91 9
F r ’ t (ton s) c a r 'd 1 m lle _ 2 4 4 ,5 6 1 ,312 200 ,075 ,04 1
0.59 cts.
A v . rate per to n p er m ile
0 .5 6 c ts .
0 .7 0 c ts .
0.71 c ts .
E A R N IN G S , E X P E N S E S A N D C H A R G E S .
1909-10.
1908-09.
$ 1 ,2 5 1 ,3 1 6
G ross earnings ............... ........... ................ $ 1 ,4 4 0 ,0 3 3
O p e ra tin g e x p e n s e s ___________________
889,401
8 6 8 ,6 5 6
1907-08.
$85 1,51 9
607,523
N et e a rn in g s __________
D educt—
T a x e s ____________________
In terest o n b o n d s . ______
In terest o n flo a tin g d e b t
R e n ta ls ___________________
5550,632
$38 2,66 0
$ 2 4 3,99 6
537,413
103 ,045
15,193
a 89 ,209
532,913
161,241
12,345
a95,761
531 ,4 4 6
160,773
6,733
32,512
T o t a l .............................................................
B a la n ce , s u r p l u s .. _____ ______________
5 3 0 5,46 0
$24 5,17 2
$ 3 0 2,26 0
$80 ,4 0 0
$232,404
$11,532
a R e n ta ls Inclu de hire o f e q u ip m e n t b a la n ce , $28 ,2 0 5 In 1909-10 again st
$46 ,825 In 1908-09, an d jo in t fa cilities, $61 ,0 0 4 a gain st $ 4 8 ,9 3 6 .
1764
THE CHRONICLE
B A L A N C E S H E E T J U N E 30.
1909.
1910.
1910.
1909.
$
L iam ities—
S
Assets—
$
$
Cost o f r o a d . . ............3 ,592,970 3.567,279 Capital s t o c k ............1,340,000 1.340.000
Cost of equipm ent.. 1 ,429,265 1,443,566 Funded d e b t________2,669,000 2.669.000
400.000
So. East. A Ph. stock 150,000
150,000 Debenture bonds___ 400,000
280.000
do adv for constr. 255,167
226,562 Eq. tr. ctfs., scr. A . 240,000
195,940
Locom . rental n otes.
97,363
Mine Hill H R. adv.
48,746
82,357
50,438 Eq. replace’ t acc’ t . .
50,438
for construction..
66,082
66,033
94,603 Int. on funded d e b t.
Cash _______ ______
113,760
180,363
5,304 Vouchers & pay-rolls 138,559
Due by agents............
3,307
326,000
334.993 Loans & bills pay’ le . 291,000
Traffic balances____ 334,877
156,783
22,286 Traffic balances------ 185,001
36,417
Open accounts_____
7,977
5,696
119,972 M iscellaneous______
Material and supplies 116,162
Profit and loss---------- 567,347 ♦344,112
T o t a l _____ _______6,082,362 6,015,003
— V . 91, p . 1386. 1328.
T o t a l .......................6,082,362 6,015,003
Boston & Worcester Electric Companies.
Y e a r e n d in g S e p t . 30 1910.)
President William M. Butler Dec. 27 wrote in brief:
{R e p o r t f o r F is c a l
B y referrin g t o th e sta te m e n t o f th e S treet R y . C o ., it w ill be n o te d th a t
th e passen ger receip ts Increased a b o u t $2 4 ,0 0 0 o v e r th e pre vio u s ye a r, an
in crea se o f a p p r o x im a te ly 4 H % , w h ich co m p a re s fa v o r a b ly w ith th e in
crease o f passen ger reve n u e o f o th e r stre e t railw ays th ro u g h o u t th e S ta te .
I t w ill be r e m em b ered th a t th e c o m p a n y d u r in g t h e y e a r e n d in g S e p t .3 0 1909
re c e iv e d an unu su al in co m e o f a b o u t $ 19 ,000 fo r th e sale o f pow er t o o th er
s treet railw ays on a c c o u n t o f te m p o r a r y disa b ility o f p ow er p la n ts. N o
su ch unu su al in c o m e has b e e n r e ce iv e d th e past y e a r , b u t th e passenger
r eceip ts h a v e s o Increased th a t th is a m o u n t has been m ore th an m ade g o o d
and th e to ta l gross in c o m e has Increased $5,300 m ore th a n th e y e a r b e fo r e .
T h e op e r a tin g exp en ses w ere $22 ,000 In e xcess o f the p reviou s y e a r, a
large p a rt o f w h ich Is a c c o u n te d fo r b y the in crea sed a m o u n ts ch a rge d to
th e m a in ten a n ce o f t r a c k , line an d e q u ip m e n t. T h e fix e d ch arges fo r th e
y e a r w ere s o m e w h a t less th a n last y e a r, as a p o r tio n o f th e flo a tin g d e b t o f
th e p rev iou s y e a r w as c o n v e r te d In to c a p ita l s t o c k . T h e p rofit an d loss
su rplu s has in crea sed d u rin g th e y ear fro m $2,873 t o $ 3 5 ,5 4 1 .
T h e S treet R y . C o. has n o w n o floatin g d e b t , e x c e p t th a t o w e d t o the
B o s to n & W o r c e s te r E le ctrlo C o s ., an d its cu rre n t a c c o u n ts , a n d has a
g o o d s u p p ly o f cash on h an d fo r Its requ irem en ts.
W h ile th e n et earnings o f the o p e ra tin g c o m p a n y fo r th e p ast tw o years
h a v e been d is a p p oin tin g , th e shareholders m a y be assured th at the m an age
m en t is m a k in g e v e r y effo rt t o increase Its reven u e an d t o o p e ra te th e p r o p
e r t y in a m ost e c o n o m ic a l m an n er, w h ile, n e verth eless, k e e p in g the p r o p e r ty
In a high sta te o f e ffic ie n c y .
, „ r
,
T h e p assen ger exp ress se rvice b e tw e e n B o s to n an d W o r c e ste r , in au gu
ra ted in th e e a r ly part o f this ye a r, has p r o v e n p o p u la r an d su ccessfu l, and
w ill u n d o u b t e d ly co n tin u e t o stim u la te o u r th ro u g h tra v e l b e tw e e n B o s to n
an d W o r c e ste r , an d th e n atu ral g ro w th o f th e cities an d tow n s th ro u gh w ld ch
w e op era te s h ou ld co n tin u a lly p ro d u ce a h e a lth y increase in lo ca l tra v e l.
T h e tru stees, a fter m o st carefu l c o n s id e ra tio n o f th e d iv id e n d qu e stio n ,
u n a n im ou sly d e c id e d th a t n o a c tio n re la tive t o a d iv id e n d be tak en at this
tim e . T h e financial c o n d itio n o f th e c o m p a n y is e x ce lle n t, b u t it seem s
w ise t o d efer d iv id e n d a c tio n fo r th e presen t, so th a t w hen d iv id e n d s are
resu m ed t h e y m a y b e e x p e c te d t o c o n tin u e w ith o u t in te rru p tio n .
B O S T O N & W O R C E S T E R E L E C T R IC C O M P A N I E S .
In com e A cco u n t fo r Y ear ending S ep t. 3 0 .
E a rn in g s—
190 9-1 0. 190 8-0 9.
E x p en ses—
1909-10. 1908-09.
D lv s .B .A W .S t .R y .$ 3 0 ,3 7 5
$60 ,749 P referred d iv s _ ..:r $ 3 3 ,9 3 6 i/$67,872
3 5 ,7 5 7 M is c e l la n e o u s
2,613
2.4 7 0
O th er I n c o m e ______ 2 5 ,3 3 5
I n t. o n 3 -y r . n o t e s . 18,000
17,621
T o t a l in c o m e . .. $ 5 5 , 7 1 0
$90 ,506
T o t a l e x p e n s e s ..$ 5 4 ,5 4 9
$87,963
N e t earnings fo r y e a r _______________________________________ $1,161
$8,543
x $1 p er sh are. V $2 p er share.
B a lan ce Sheet Septem ber 30 1910.
L ia b ilities—
A ssets—
3 3 ,936 P referred s h a r e s ..N o p ar v a l.
2 3 ,2 2 0 shares B .& W .S t .R y .C o .
3 4,614 C o m m o n s h a r e s ..N o p a r v a l.
$30 0 ,0 0 0 n otes p a y a b le ,
do
Cash on h a n d ___________________$1,817 $30 0,00 0 3 -y r . 6 % c o u p , n o te s.
A c c o u n t s r e c e iv a b le ___________ 16,261 A c c r u e d in t. o n 3 -ye a r n o t e s . .$ 4 ,5 0 0
P ro fit an d loss, s u rp lu s_______ 5,457
BO STO N * W ORCESTER ST R E E T R A I L W A Y .
R esults f o r F is c a l Y ea r ending S ep t. 30.
In co m e A c c t .— 190 9-1 0. 190 8-0 9.
E a rn in g s.—
190 9-1 0. 1908-09.
P a s s e n g e r s _______ $ 57 6,15 4 $55 1,70 6 N et e a rn in g s_____ $23 9,53 9 $256,418
D educt—
F r e i g h t ___________
200
200
R en ta ls a n d m le c .
6 ,5 3 0
2 5,605 In te r e s t................ ..$ 1 3 0 ,2 3 1 $138,771
T a x e s _____________
4 0 ,077
40,183
T o ta l e a r n in g s .$582,884 $577,511 D iv id e n d ___ (1 k6% ) 3 0,375 (3 )6 0 ,7 5 0
O p era tin g e x p —
343 ,345 321 ,093
T o t a l d e d u ct’s . $20 0,68 3 $239,704
N et e a r n in g s ...$ 2 3 9 ,5 3 9 $25 6,41 8 B a la n ce , s u r p lu s . $38 ,856 $16 ,714
B a lan ce Sheet Septem ber 3 0 .
1010.
1909.
191 0.
1909.
L iabilities—
$
S
A ssets—
$
$
P r o p e r t y I n v e s t -4 ,8 50 ,391 4 ,7 7 6 ,5 2 8 C apital s t o c k ___ 2 ,3 2 2 ,0 0 0 2 ,0 2 5 ,0 0 0
9 2 ,027 F u n d e d d e b t . ..2 ,3 2 0 ,0 0 0 1,970,000
Cash In b a n k s .. 117,870
6,981
14,436 N o te s p a y a b le .. X 300.000 1/867,482
A c c t s . r e c e lv ’ l e .
4 5 ,160
51,082
89,416 A c c t s . p a y a b le ..
F uel & s u p p lie s . 113,900
33,961
24,860
5,682
9,074 In terest a ccru e d
P r e p a id In s., A c .
Taxes a c c r u e d ..
3 9 ,065
40,183
909
A d ju s t ’ t i t e m s . .
P ro fit a n d l o s s . .
235,541
2,873
T o t a l _________ 5 ,0 9 5 ,7 3 3 4,08 1 ,4 8 1
T o t a l...................5 ,0 9 5 ,7 3 3 4,981,481
x H eld b y B . & W . E le ctric C o s. y In olu d es $ 60 0,00 0 h eld b y B . A W .
E le c tr ic C os. a n d $26 7,48 2 held b y ba n k s, s D u rin g th e y e a r 1909-10
$6,189 w as d e d u cte d fo r a d ju s tm e n t o f o ld a c c o u n t s .— V . 90, p . 1674.
Northern California Power Co., Consolidated, San Francisco.
{ R e p o r t f o r F i s c a l Y e a r e n d in g O c t. 31 1910.)
Pres. H. H. Noble, Nov. 23 1910, wrote in substance:
G eneral R esu lts.— T h e y e a r Just c lo se d has b een a v e r y p rosp erou s on e ,
d e s p ite th e f a c t th a t tw o o f th e sm elters w ere co m p e lle d to c lo se d o w n until
a sm o k e -co n su m in g d e v ic e c o u ld b e Installed, and also th a t It has been the
sh ortest w ater season w e h a v e k n o w n In o u r h is to ry , w h ich fo u n d us en
tir e ly u n p rep a red , as n o n e o f o u r s to ra g e reservoirs h a d been c o m p le te d .
T h e gross earnings fo r th e p a s t y e a r w ere $ 5 7 8 ,0 8 2 , w h ich Is a gain o f
$14 5 ,3 6 7 o v e r th a t o f th e p re v io u s ye a r; n e t earnings, $ 4 0 6 ,8 3 4 , be in g an
Increase o f $ 1 3 7 ,5 5 3 .
W e n a v e p aid $ 2 1 0,00 0 in d iv id e n d s an d h a v e ad d ed
t o o u r surplus $74 ,008 fro m th e y e a r ’ s o p e ra tio n s.
C on stru ction .— O u r B u rn e y rese rv o ir w as d e la y e d o n a c c o u n t o f o u r n o t
g e ttin g title t o a p o r tio n o f th e lan d u n til n o w . T h e N o rth B a ttle Creek
stora g e reserv oir is a large u n d e rta k in g an d w ill n o t b e c o m p le te d u n til
th e n e x t y e a r . M oC u m ber F la t has p ro v e n t o b e a great su ccess b y giv in g
us a great deal o f u n d e rg ro u n d s to ra g e , w h ich w ill b e Increased th e c o m in g
season . W e are p u ttin g in a d a m at th e o u tle t o f M an zan lta L a k e , w h ich
w ill raise th e w a ter in th e lak e 16 f t . an d w ill b e a v a ila b le , if n e e d e d , th e
c o m in g su m m er. In th e early sp rin g w c w ill also dam th e o u tle t o f M ud
L a k e , w h ich w ill raise th e w ater there 10 fe e t. W e are also p u ttin g in a
sm all s tora g e reserv oir a t th e B a ld w in pla ce , w h ich Is a b o v e o u r fo re -b a y s
a t V o lt a . T h is also w 11 b e a v a ila b le th e co m in g su m m er. W ith in o n e
w eek a fte r o u r last a n n u al m e e tin g , th e w in te r rains set In an d s to p p e d w ork
on o u r In sk ip p l a n t .' C o n se q u e n tly , w e w ere u n a ble t o co m p le te the sam e
u n til Ju n e 12 191 0, a n d th e w a te r In N o rth B a ttle Creek w as n o t ava ila b le
u n til O c t . 14.
,
T h e c h a n g e in th e p o in t o f d iv e rsio n and th e p la cin g o f o u r p o w e r h ouse
o n e m ile d o w n -stre a m fro m th e p o in t orig in a lly Intended en a b le d us t o
gain 114 fe e t In h ead an d t o Install 2 0 ,0 0 0 h . p . instead o f th e 16,000 h . p .
ava ila b le u n d er th e orig in a l plan o f d e v e lo p m e n t. W e are n o w a c tiv e ly
en gag ed a t w o rk o n this 2 0 ,0 0 0 h . p . p la n t, k n o w n as th e " C o le m a n ” p la n t,
a n d e x p e c t t o h a v e th e sam e co m p le te d n o t la te r th an Ju n e 1 1911.
P la n ts.— T h e C olem an p la n t Is th e fo u r th Installation In th e B a ttle Creek
w a tersh ed , th e o th e r three piants be in g lo ca te d u p -stream fro m It in th e fo l
low in g o r d e r - I n s k lp ,S o u t h p o w e r h o u se and V o lt a . A ll o f o u r s to r a g e reser
v oirs are lo ca te d a b o v e th e V o lta p la n t, a n d h e n ce all sto ra g e w ater w ill
b e used fo u r tim es o r e r , n a m e ly , a t th e V o lt a p la n t u n d er 1,250 f t . h ead ;
[ [VOL. L X X X XI
a t th e S o u th p o w e r h o u se u n d e r 506 f t . h ead ; a t In s k ip u n d er 370 f t . h e a d an d a t C olem an u n d er 480 f t . h e a d . T h e to ta l d ista n ce fro m p o in t o f dl*
ve rsio n a t In sk ip t o C olem an p o w e r h o u se is 10 }4 m iles, a n d th e w a te r is
c o n v e y e d th rou gh o p e n d itch e s , a tu nnel a n d tw o In verted s y p h o n s. T h is
w a te r, a fter se rv in g us so w ell, goes o n to help Irrigate th e th irsty lan ds o f
th e gre a t S a cra m e n to V a lle y . T ran sm ission lines ru n fro m S o u th p o w e r
h o u s e t o In sk lp ; an d fro m In sk ip t o C olem an p o w e r h o u se s ite . W e h a v e
c o m p le te d th e w ork o f ch a n g in g o u r so u th c ircu it fro m V o lt a t o P a lo C ed ro
fro m 2 0 ,0 0 0 t o 6 0 ,0 0 0 v o lt s , re b u ild in g th e line w ith larger c o p p e r t o g iv e
Increased line c a p a c it y . A t K c n n e tt w e h a v e Installed a 1,000 k . w . r o ta r y
co n d e n s o r , w h ich has raised o u r p o w e r fa c to r fro m a b o u t 78 t o 9 5 % . W e
h a v e p u rch ased d u rin g th e p ast y e a r th e A n n a n d p la ce , w h ich carries
220 Inches o f w a te r, a n d th e Ja h n k e p la ce , w h ich carries 100 Inches o f
w a te r. W e h a v e also p u rch a se d th e P h elps p la ce , w h ich w ill b e u tiliz e d
as a s to ra g e re servoir.
O utlook.— A s t o p r o s p e c tiv e n ew bu sin ess, I h a v e n o h e s ita n cy in s a y
in g th a t, w ith in three m o n th s a fte r th e c o m p le tio n o f o u r C olem an p la n t,
th e en tire 2 0,000 h . p . w ill b e s o ld , a n d th e c o m p a n y ’s large h o ld in g s o f
u n d e v e lo p e d w a te r rights ca n b e d e v e lo p e d as n e e d e d , t o ca re fo r fu tu re
r e q u ire m e n ts. T h e N o b le E le c tr ic Steel C o . Is installing fo u r n ew fur
n aces an d e x p e c ts t o h a v e th e sam e c o m p le te d a t a p p ro x im a te ly th e sa m e
tim e th a t o u r C olem an p la n t is fin ish ed. T h e y w ill requ ire 10,000 h . p .
t o o p e r a te these fu rn a ce s. T h e S a cra m e n to V a lle y Irrig a tio n C o . Is n ow
Installing three new un its o f 300 h . p . e a ch .
T h e rem ark able g ro w th o f W illo w s has sh ow n us th e n e ce ssity o f In
sta llin g g a s w o r k s In th a t c it y , a n d w e h a v e a lrea d y a p p lie d fo r a fra n ch lso
fo r th e sam e an d w ill c o m m e n ce w o rk In th e near fu tu r e .
IN C O M E A C C O U N T ,
■
190 9-1 0. 1908-09
E a rn in g s—
190 9-1 0. 1908-09.
E l. ligh t A p o w e r .$ 50 6,95 8 $37 0,45 5 N et ea rn in g s_____ $39 6,47 1 $ 2 8 1 ,5 5 4
10,372
1 ,1 1 5
Gas A w ater w ork s 53,031
50,520 O th e r In c o m e ____
1 8 ,093
11,740
M is c e l la n e o u s ___
T o ta l n e t c a r n s .$ 4 0 6 ,8 4 3 $ 28 2,66 9
D educt—
T o t a l ..................$57 8,08 2 $ 43 2,71 5
In terest o n b o n d s . $ 1 2 2 ,8 3 5 $ 0 4 ,6 5 4
E xp en ses—
11 0 ,0 0 0
O p e ra tin g e x p . . . $ 77 ,145 $65 ,114 D iv id e n d s _______ 21 0 ,0 0 0
R a te o f d lv s —
(10
(5 ^ )
M a in te n a n c e _____
3 0,673
30,205
G eneral e x p e n s e s .
73,793
55,842
T o t a l d c d lic t ’ ns $33 2 ,8 3 5 $20 4 ,6 5 4
T o t a l e x p e n s e s .$181,611 $151,161 B a la n ce , s u r p lu s . $ 74 ,008 $ 7 8 ,0 1 5
B A L A N C E S H E E T O C T O B E R 31.
1910.
1 90 9.
1910.
1909.
A ssets—
L ia b ilities—
$
$
$
$
C a pital s t o c k . . .2 ,0 0 0 ,0 0 0 2 ,0 0 0 ,0 0 0
P r o p e r t y , plan t,
,5 6 4 ,0 0 0
lig h ts , & c ____ 5 ,8 8 2 ,2 5 3 4 ,8 9 6 ,5 9 4 B o n d s _________*3 ,3 0 5 ,0 0 0
2 3 7 ,2 3 9
M eters, t o o ls ,fix .,
B ills p a y a b l e . . . 339 ,022
1 99 ,739
137,741 A c c ’ ts p a y a b le .. 270,509
w a g o n s , A c . . 148,203
24,852
A c c r ’ d b o n d In t.,
M a t ’ l A supplies
52,939
ta x e s , A c ____
73,398
937
15,642
C a s h ____________
6 4 ,6 2 7
62,028 S urplus re in v e s t. 159,029
76,909
A c c ’ ts A bills r e c.
21,245
M isce lla n e o u s___
T o t a l _________ 6 ,1 4 7 ,8 5 9 5 ,1 1 8 ,5 4 5
T o t a l _________ 6 ,1 4 7 ,8 5 9 5 ,1 1 8 ,5 4 5
‘ b l o n d s o u ts ta n d in g Inclu de $ 2 ,2 9 5 ,0 0 0 N orth ern C al. P o w . C o ., C o n
s o lid a te d ret. an d c o n s o l. 5s; $ 86 6,00 0 N orth ern C al. P o w e r C o . 1st M . 5s;
$ 45 ,000 K e sw ick E l. P o w e r C o . 1st M . 5s; $8 9 ,0 0 0 B a ttle C reek P o w e r
C o. 1st M . 5s a n d $1 0 ,0 0 0 R e d d in g W a te r C o . 1st M . 5s.— V . 9 1 , p . 1516
341.
Boston (Mass.) Belting Co.
{B a l a n c e S h e e t o f S e p t .
30 1910.)'
President Thomas A. Forsyth says:
A t th e begin n in g o f th e y e a r Industrial c o n d itio n s w ere gen erally fa ir ly
s a tisfa c to r y .
C rude ru b b e r, h o w e v e r, w as at th a t tim e selling at w h a t w as
th en regarded as a high p rice .
D u rin g th e fo llo w in g 6 m o n th s there w as a
s te a d y and rapid Increase In c o s t o f ru b b e r until in A p ril 1910 w as re gistered
th e highest p o in t a t w h ich It e v e r s o ld .
I t Is d o u b tfu l If there w as ev er
re c o rd e d an in stan ce o f so great an a d v a n c e In p rice In such a s h o rt tim e
In a n y o th e r c o m m o d it y o f th e u niversal Im p o rta n ce o f ru b b e r . A lth o u g h
s o m e d eclin e has sin ce ta k e n p la ce , th e cru d e ru b b e r m a rk e t t h r o u g h o u t
th e y ear has been u n u su ally h ig h . T h e situ a tio n has been an e x tr e m e ly
tr y in g and d iffic u lt o n e fo r th e r u b b e r g o o d s m a n u fa ctu re r.
C o m p e titiv e c o n d itio n s h a v e been e x c e p tio n a lly k een , m a n y m a n u fa c
turers o f m ech an ical r u b b e r g o o d s c o m p la in in g m ore o r less o f dull b u sin ess
and th eir fa cto rie s ru n n in g o n s h o rt tim e . T h is has m a d e It d iffic u lt , and
In fa c t Im possible, t o o b ta in th e higher prices fo r o u r m a n u fa ctu re d p r o d u c t s
w h ich th e increa sed c o s t o f ru b b e r , c o t t o n fa b rics an d o th e r raw m aterials
h a v e fu lly w arra n ted
O n a fe w sp ecialties w e h a v e been a b le t o Increase
o u r prices t o a fair e x te n t, b u t o n su ch an Im p orta n t an d staple Item , fo r
e x a m p le , as ru b b e r b e ltin g , th e o n ly a d v a n c e o b ta in a b le w as o n e o f a p p r o x l™ D iA p V i f w e e stablish ed o u r o w n s tore in C h icago and in J u ly w e op en ed
bra n ch e s in San F ra n cisco an d P o r tla n d , O re ., all under ou r d ire ct a u sp ices
and c o n t r o l.
P r e v io u s ly w c w ere represen ted In these im p o rta n t cen tres
b y agen cies. W e are w ell satisfied th a t these Im p o rta n t ch an ges are m o v e s
In th e rig h t d ir e ctio n . T h e new arran gem en t, w c feel sure. Is b o u n d t o re
su lt In gre a tly increa sed sales o f o u r m an u factu res In te rrito ry se rv ed b y
these bran ch sto re s. T h e m a n u fa ctu re and sale o f ce rta in specialties has
been ste a d ily d e v e lo p e d an d v ig o r o u s ly pu sh ed , and these lines b id fa ir t o
b e c o m e o f great im p o rta n ce to us.
In spite o f u n u su ally a d verse c o n d i
tion s w h ich h a v e c o n fro n te d u s, the v o lu m e o f o u r past y e a r ’ s business has
been co m p a r a tiv e ly g o o d . W c feel o u r p o sitio n has been gre a tly stren g th
ened b y th e ch an ges in a u g u ra te d , an d c o n fid e n tly e x p e c t th a t th e fu tu r e
will sh ow resu lts a lo n g th ese lines th a t w ill b e m o s t s a tisfa c to r y .
B A L A N C E SH EET.
1910.
1909.
1910.
1909.
Liabilities—
S
$
Assets—
$
S
Real estate................ 324,712
254,282 Capital stock...............1,000,000 1,000,000
800,000
Mach., tools A flxt’s 348,0S9
348,3G4 Reserve fund ______ 800,000
174,000
79,619
40,065 Notes payable______ 422,000
Cash ..........
Profit and loss sur
Bonds receivable.. .
82,3401 ___
337.610
379,148
p l u s ________
Acc’ ts & notes rec’ le 120,931) 798,421
Investment acc’ t . . . 613.000J
M erchandise......... ..
983,002
911,366
M iscellaneous...........
7,917
650
T o t a l ...................... 2,559,610 2,353,148
— V . 89, p. 472.
-
T o t a l ...................... 2,559,610 2,353.148
Qanadian Car & Foundry Co., Ltd.
30 1910.)
The balance sheet shows profits for the 11 months ending
Sept. 30 1910, after deducting bond interest, of $832,530;
dividends paid on prof, stock, $320,833, leaving $511,097.
(F in a n c ia l S ta tem en t a s o f S e p t .
B A L A N C E SH EET.
Sep. 30 ’ 10. Dec. 31 '09.
Assets—
S
$
Real cst., bldgs.,
machin’ y, good
will, A c ............. <19,921,561 10,500,000
Invest’ ts (at cost)
50,154
34,892
Inventories (at or
below co st)____ 2,465,246 1,524,022
A cc’ ts receivable. 1,976,450 11,012,868
17,082 j
Bills receivable___
Deposits on G ov’ t
54,050
43,663
contracts _____
339,310
Cash ......................
89,053
Car tr. notes (less
reserve for un
158,028
earned Interest)
Prepaid
rental,
40,632
31,883
taxes A Insur’ cc
Sep. 30 ’ 10. Dec. 31 '09.
Liabilities—
$
5
Preferred stock
5,000,000 5,000,000
Common s t o c k .. . 3,500,000 3.500.000
1st M. Off. due 1939 3,500,000 3.500.000
Purch. money notes 500.000
Bank advances. . .
626.7441
Bills payable.........
10,097) 1,268,667
A cc’ ts & pay-rolls
801,917 J
Rentals, taxcs.and
Interest accrued
21,833
82,282
Res’vc for pf. d lv .
58,333
87,500
Deprec’ n fu n d s ...
26,389
88,438)
Contlng., A c., f’ds
44,447/
730,562
Profit and loss____
511,697
T o t a l ..................14,753,121 14,105,775
T o t a l . . ---------- 14,763,121 14,105,775
-------
rsn
a “ Real estate, buildings, A c .,” Is stated In 1010 after deducting proportion ($612.
646) of surplus o f merged companies set up at organization.— V. 91, p. 1449. 1387.
Dec. 31 1910.]
Curtis Publishing Co., Philadelphia.
{ B a l a n c e S h e e t J u n e 30 1910.)
1909.
Liabilities—
1910.
1909.
1910.
$2,589,900 $1,251,220 Capital stock.......... $5,000,000 $2,500,000
540,950 Accounts payable. 43i,746
281,429
743.840
338,939 Profit and loss____ 1,060,715 1,294,348
463,537
Mat'Is, supp., & c.
2,894.049 2,787,555 S u rp lu s ....... .......... 1,198,865 1,542,887
1,000,000
700,000
Assets—
Real estate . .
T o t a l ................ $7,691,326 $5,618,664
— V. 90. p. 449.
Total ..................$7,691,326 $5,618,664
Goodyear Tire & Rubber Co.
{ B a l a n c e S h e e t O c t. 31 1910.)
1910.
Assets—
S
Plant and property. 1,484,036
Pats.,trade-m ks.,& c.
1
Securities owned____
80,519
Notes rec. lor co.’s
cap. stock secured. 141,943
In v en tory ...................1,212,060
Notes & accts. recelv. 1,076,865
Cash on hand......... .. 576,360
Prepaid rentals, Ins.,
Interest, & c______
40,221
1909.
Liabilities—
$
920,355 Preferred stock........ 1,
1 Common s to c k ........ 2,
5,001 Current liabilities —
Fluctuations In crude
rubber m arket-----97.474
Doubtful accounts - .... D epreciation----------1,549,349 Surplus........................
1909.
S '
432,100
904,700
431,379
■i
350,000
63,8 (0
192,664
223,256
000,000
,286,100
227,085
500,000
94,464
260,713
243,642
25,808
T o t a l .......................4,612,005 2,597,988
— V. 91, p. 520. 466.
T o t a l ...................... 4,012,004 2,597,988
Pittsburgh-Buffalo Co.
{F in a n c ia l S ta tem en t a s o f O ct.
1 1910.)
1910.
1909.
Liabilities—
Assets—
S
S
Land, pl’t & cqulp-*8,005,754 6,724,659 Prcf. stock................
Railroad cars...........
291,164
264,406 Common stock____
Bonds and m tg e s ..
Cash acc’ts & bills
rec. & treas. bds 1,016,948 1,886,505 Accts.pay&pay-rolls
Sink, fd., Int., taxes
Coal In transit and
and Insur. funds.
supplies in stock.
73,558
67,789
Bonds & stocks____ 2,500,000
---------- Profit and loss____
T o t a l ....................11,887,423 8,943,359
1910.
S
1,000,000
5,000,000
4,860,000
718,612
1909.
S
.000 000
,000,009
,500,000
177,034
99,450
209,361
149,386
116,939
T o t a l ....................11,887,423 8,943,359
* Consists of 11,444 acres coal and 2,241 acres surface lands and equipment of five
operating mines, Including Marianna, $6,871,462; also equipment of brick yards,
sewer pipe plant, ovens, &c. ($412,695) and 800 miners, &c., houses ($721,597).—
V. 89, p. 1595.
G EN ERAL
1765
T H E C H R O N IC LE
IN V E S T M E N T
N EW S,
RAILROADS, INCLUDING ELECTRIC ROADS.
Alton Jacksonville & Peoria (Electric) R y.— B o n d s O f fe r e d .
pation in all subsequent dividends, or in four equal install
ments, payable Jan. 10, April 10, July 10 and Oct. 10. No
subscriptions for portions of shares will be received.—
V. 91, p. 1628, 1384.
Buffalo & Susquehanna R y.— R e o r g a n iz a ti o n
N o t A d v is a b le
S o m e M o n t h s — L e t t e r f r o m R e c e i v e r .— The committee of
which William Salomon is Chairman, representing the 1st M.
4 ^ 2 % bonds of the Buffalo & Susquehanna Ry. Co., has
issued a circular to depositing bondholders stating that it is
deemed inadvisable to attempt to formulate any plan of re
organization before next spring.
fo r
Statement from H. I. Miller, Receiver for both the Buffalo & Susquehanna
Ry. Co. and the Buff. & Susq. RR., Submitted by the Committee.
P rio r to J u ly 1 n o a tte m p t h ad been m a d e to a scertain w h a t th e p r o p e r
ties o f th e R a ilw a y an d th e R a ilro a d w ere se p a ra te ly d o in g , b u t on th a t
d a te a system o f a c c o u n tin g w as p u t In to e ffe ct u n d e r w h ich th e earnings
a n d expen ses o f each w ere sh ow n .
N et In com e fro m O perations, J u ly 1 to Oct. 31 1910.
R a ilw a y . R a ilro a d .1
R a ilw a y . R a ilroa d .
J u ly ____________ $26,051
$22 ,510 S e p t e m b e r _______ $16 ,188
$29 ,8 7 4
A u g u s t _________
35,214
11,985 |O c t o b e r ................
17,202 21,0 9 0
U p to th e presen t tim e re c e iv e r ’s certifica tes a g g re g a tin g $ 5 1 1,00 0 h a v e
b e e n Issued o n th e R a ilw a y ; o f th e p r o c e e d s $ 1 7 7 ,0 2 5 w as used t o p a y prin
cip a l an d in terest o f e q u ip m e n t tru st o b lig a tio n s as th e y m a tu re , th e bal
a n ce be in g fo r p referred cla im s, su ch as u n p a id w ages, ta x e s , & c. N o d e b t
has a ccru e d to th e R a ilw a y fro m th e r e ce iv e r's o w n o p e ra tio n s, an d It Is e x
p e cte d th at e q u ip m e n t tru st o b lig a tio n s up t o n e x t A p ril, Interest o n
re c e iv e r ’s ce rtlllca te s an d p rio r cla im s c a n b e p r o v id e d fo r w ith o u t b o r r o w
in g a d d itio n a l m o n e y .
T o a v o id in te rru p tio n t o tr a ffic fro m sn o w I am h a v in g sn o w fe n ces c o n
s tru cte d , sim ilar t o th ose in use o n n e ig h b o rin g lines.
T h e e q u ip m e n t o f b o th th e ra ilw a y an d the r a ilro a d , p a r ticu la r ly th e
lo c o m o t iv e e q u ip m e n t, w as In such bad c o n d itio n as to be a lm os t u n
s e rv ice a b le ; an d e ven w ith g o o d w eath er It has been w ith th e greatest d iffi
c u lty th a t w e h a v e m o v e d th e t r a ffic .
W ith a re o rg a n iz a tio n o f th e m e
ch a n ica l d e p a rtm e n t, h o w e v e r, w e h a v e been g ra d u a lly g e ttin g th e lo c o
m o tiv e s Into s e rv ice a b le c o n d it io n . T h e R a ilw a y is largely d e p e n d e n t on
th e tr a ffic orig in a tin g o n th e R a ilr o a d an d d eliv ered a t B elvid ere v ia th e
P itts b u rg h S h a w m u t & N orth ern R R .
U ntil this su m m er th e m in es o f th e
railroad c o m p a n y h a v e n o t been o p e ra te d co n tin u o u s ly b eca u se o f failure
t o s u p p ly th em w ith e m p t y cars a n d to m o v e lo a d e d cars p r o m p t ly .
We
h a v e been ab le t o arrange m atters so th a t there has been n o s to p p a g e on
tills a c c o u n t , an d th e ra ilw a y has benetlted b y this In Its c o a l an d c o k e
sh ip m en ts to an d th ro u gh B u ffa lo . T h e co n tin u o u s o p e r a tio n o f th e c o a l
m ines o n the railro a d an d ch an ges In th e m an agem en t o f th e c o a l c o m p a n y
h a v e p ro d u c e d results th a t p o in t to w a rd s b etter th in gs th an In th e p a s t,
w h ich Im p ro v e m e n t will In tu rn b e re lle cte d to th e railroad an d th e r a ilw a y .
T h e v a lu a b le term in al p r o p e r ty o f th e R a ilw a y a t B u ffa lo Is n o t at present
c o n n e c te d w ith Its line o f r a ilw a y , and Is n o t a v a ila b le fo r use. T h e c o m
p a n y has n o p e rm a n e n t term in al a rran gem en t w ith o th e r co m p a n ie s , u nd er
w h ich Its fre ig h t tr a ffic c a n be ca re d fo r , an d so fa r w e h a v e n o t fe lt th a t It
w o u ld b e g o o d p o lic y t o co n s e n t to th e bu rd e n so m e c o n d itio n s en ta iled .
I t has n o t y e t be e n d e c id e d w h a t co u rse w ill b e ta k en in r e sp e ct o f the
railroad c o m p a n y 's 4 % b o n d s, an d It w o u ld seem th a t until s o m e p lan had
been w o rk e d o u t fo r th o se b o n d s It w o u ld be pre m a tu re t o d o a n y th in g
a b o u t th e ra ilw a y c o m p a n y ’ s 4 1 4 % b o n d s.
I f o u r e x p e c ta tio n s are realized
o f be in g a b le t o ge t o u r p o w e r, & c., In su ch sh ape th a t w e ca n h a n d le th e
tr a ffic , the earnings w ill be greater th an th e y w ere last y e a r. T h is, h o w
ev e r, c a n n o t be to ld a t this tim e , an d In v ie w o f th e u n c e r ta in ty I think It
w o u ld be p ru d e n t t o p o s tp o n e a t p resen t th e fo rm u la tio n o f a n y plan o f
re o r g a n iz a tio n .— V . 91, p . 214.
— Geo. M. Seward & Co., Chicago, as fiscal agents for the
Falkenau Electric Construction Co. of Chicago, are offering
for subscription at 95 and int., with a 40% stock bonus (par
$100 a share), the unsold portion of a block of $100,000 1st M.
5% 30-year gold bonds, dated July 1 1910 and due July 1
1940, but redeemable at 105 after July 1 1920. Trustee,
Canton-Akron Consolidated Ry. Co.— S t a t u s . — A circular
Alton (111.) Banking & Trust Co. Coupons payable at Amer. issued by Claude Ashbrook, Wiggins Block, Cincinnati,
Tr. Co., St. Louis. Par $500 and $1,000. A circular says: describing the general consolidated mtge. 5% gold bonds
T h e to ta l au th oriz ed Issue Is $60 0 ,0 0 0 , b e in g a first m o rtg a g e o n the line recently offered at 87)A and int. (V.91,p. 1628), says in part.
In A lt o n , also th e e x te n s io n t o J c rs e y v llle , w ith branch line t o I la rd ln , e m
b ra cin g 35 m iles o f (electric) r o a d , at less th a n $ 20 ,000 per m ile. O f this
Issue th e m a jo r p o r tio n has a lre a d y been s o ld . T h e ra ilw a y Is n o w In o p e ra
tio n In th e c ity o f A lt o n and also t o th e to w n o f G o d fr e y , a b o u t 5 m iles dis
ta n t. T h e line t o J crs e y v llle Is alm ost c o m p le t e d . T h e c o s t represents
a large e x p en d itu re b y th e s to ck h o ld e rs In a d d itio n t o th e p ro ce e d s o f the
b o n d issue. T h e ra ilw a y sh ou ld be c o m p le te d a b o u t M arch 1 1911. T h e
b e s t o f m aterials Is bein g u sed . T h e c o m p a n y h o ld s v a lu a b le 50-year fra n
chises fro m th e v a riou s m u n icipa lities, and o u tsid e o f th e cities and tow n s
th e line Is on p riv a te rig h t o f w a y , thus en su rin g speed and c c co n o m lc a l
o p e r a tio n .
W ill d o a fre igh t and parcel as w ell as passenger business.
O fficers: P res, an d T re a s .. E . M . D a v is, also P res. S t. L o u is Fire Ins. C o .,
S t . L ou is; 1st V Ic c -P r e s ., C. A . C a ldw ell, Cashier A lt o n N a t. B a n k , A lto n ;
2d V lc c -P r c s ., C. H . S eger, Cashier A lto n B a n k in g & T ru st C o .; S e c ., T . C.
M oG rath , C ou n ty C lerk, J e rs cy v llle , 111.
Ann Arbor R R.— E q u i p m e n t B o n d s S o l d . — The company
has sold to J. S. Bache & Co. $600,000 series “ B” first lien
5% equipment bonds, dated Jan. 2 1911, interest payable
Jan. 1 and July 1, principal due in 20 semi-annual install
ments of $30,000 each, from July 1 1911 to Jan. 1 1921, incl.
T h e e q u ip m en t b on d s c o v e r lo co m o tiv e s , p assenger an d fre igh t e q u ip
m en t an d a new steel car fe rry , n o w b ein g bu ilt b y th e T o le d o S h ip b u ild in g
C o ., to be d eliv ered o n D e c. 3 1 .— V . 91, p . 1710, 1511.
Astoria Southern R y . — N a o E n t e r p r i s e — B o n d s . — This
company, incorporated in Oregon last May with $500,000 of
authorized capital stock, filed on Nov. 12 a mortgage to the
Central Trust Co. of Illinois, to secure $200,000 in 10-year
6% bonds providing for the construction of a railroad from
Youngs River into the timber tract in what is known as the
Clatskanie River district.
.
T h e c o m p a n y Is said to b e a su b sid ia ry o f the W e s te rn C o o p e ra g e C o.
o f P o r tla n d . O re., th e m ain p u rp o se , It Is u n d e rs to o d , b e in g t o o p e n a
large tra ct o f tim b er (on e a c c o u n t says 12,000 acres) o w n e d b y th a t c o m
p a n y . T h e in co rp o ra to rs in clu d e d L . W . H u m p h re y s , W . E . T h o m a s and
O . J . K ra em er, all o f P o rtla n d .
Belvidere Delaware R R . — D i v i d e n d I n c r e a s e d . — A divi
dend of 10% is being paid to-day on the $1,253,000 stock
from the earnings of 1910, comparing with 5% a year ago
from those of 1909.
J o 1007 to 1909 io ? 8 y e a r ly w as disbu rsed in F e b . o r A larch, a n d In
1897 to 1906 5 % from th e earnings o f th e p re ce d in g c a l. y e a rs .— V . 8 4 , p .7 4 8 .
Bogota (Colombia) City R y. — S a l e o f R o a d . — The final
installment of $125,000 of the purchase price of $800,000
was, it is announced in press dispatches made on Dec. 28
by the municipality to the American owners.
T h e latter b u ilt an d op e r a te d th e lines under a c o n ce s s io n re ce iv e d d u rin g
the p resid en cy o f G eneral R e y e s.
P o p u la r d is a p p ro v a l o f th e con ce ssio n
resu lted In a b o y c o t t o f th e ro a d a n d seriou s d istu rb a n ce s, and early In
O c to b e r last an a g reem en t fo r th e sale o f th e r o a d w as r e a ch e d b etw een th e
C olom b ia n G ov ern m en t and the A m e rica n L e g a tio n at B o g o ta .
Boston & Maine RR.— O p t io n to S u b s c r i b e . — All pref. and
common stockholders of record Nov. 2 1910 will have the
right to subscribe at 110, at the Old Colony Trust Co., Boston,
until 2 p. m. Jan. 10 for $10,663,700 new common stock to
the extent of one share for every threo shares now held.
Subscriptions will be payable either in full on Jan. 10, in
which case the certificates issued will be entitled to partici
F u n d ed Debt 4 ,6 8 3 ,0 0 0 , in c l. $93 5,00 0 Owned by N o r. O hio L t. & T r. C o.
B o n d s , u n d e rly in g ------------------------------------------------- ----------------------------$ 2 ,7 2 2 ,0 0 0
G eneral co n so ls, a u th o rize d , $ 2 ,5 0 0 ,0 0 0 : reserv ed to retire u n
d e rly in g b on d s [T uscaraw as R R . 0s], $ 10 0,00 0; reserved fo r e x
ten sion s, & c., at n o t e x ce e d in g 8 5 % o f c o s t, $ 43 9,00 0; i s s u e d .. 1,9 6 1 ,0 0 0
O f th e $ 1 ,9 6 1 ,0 0 0 general co n so ls w h ich h a v e been Issued, as a b o v e
sh ow n , th ere are p led g ed w ith trustees as collateral to th e N orth ern O h io
T ra ctio n & L ig h t C o. colla tera l tru st serial b on d s, $ 7 0 0 ,0 0 0 , th ere are held
In treasu ry o f th e N orth ern O h io T ra ctio n & L ig h t C o ., $ 2 3 5 ,0 0 0 , an d b y
th e p u b lic, $ 1 ,0 2 0 ,0 0 0 .
In O cto b e r 1906 th e C a n to n -A k ro n C on solid a ted R y . C o. w as p u rch a sed
b y the N orth ern O h io T ra ctio n & L ig h t C o. and th e C a n to n -A k ro n C on soli
d a te d m tg e. b on d s w ere gu a ra n teed , p rln . and In t., b y th e N orth ern O h io
T ra ctio n & L ig h t C o. T h e to ta l s to ck Issued b y th e N orth ern O h io L ig h t
& T ra ctio n C o. is $ 9 ,0 0 0 ,0 0 0 ,o n w h ich d iv id en d s are bein g p aid qu a rterly
a t th e rate o f 3 % per a n n u m . T h is s to ck (and n o t th e s to c k o f th e A k ro n
C on solid a ted R y . — E d .) Is listed o n th e N . Y . , M on trea l, T o r o n t o , C leve
la n d an d C in cin n ati s to ck e x ch a n g e s. F o r th e ca len d a r yea r 1909 th e
C a n to n -A k ro n C on solid a ted R y . earnings were: G ross. $89 3 ,8 7 9 ; n et, $ 3 9 8 ,
863; net surplus, a fter d e d u ctin g Interest o n u n d erlyin g b o n d s, w as 1 3 .4 0 %
o n $ 1 ,9 6 1 ,0 0 0 Issued co n s o l, gen . m tg e . b o n d s. T h e N orth ern O h io T ra c
tio n & L ig h t C o ., also, after p a y in g all o f Its ow n ch arges, as well as th e Inter
est charges o n th e ou tsta n d in g Issue o f general c o n s o ls, still has a surplus
o f fro m tw o to th ree tim es th e ann u al Interest ($12 5 ,0 0 0 ) on th e to ta l
a u th orized Issue o f th e general c o n s o ls. C om p a re V . 91, p . 1628.
Carthage Watertown & Sacketts Harbor R R.— E x t r a
— The directors have declared a semi-annual divi
dend of 2J^% and 5% extra on the $465,000 common stock,
most of which is owned by the New York Central & Hudson
River RR., payable Dec. 31 to holders of record Dec. 30.
Regular distributions at the same rate have been paid
since 1900.
Central New England R y. — M o d i f i e d P l a n . — The N. Y.
New Haven & Hartford RR. is understood to have sent to
the N. Y. Public Service Commission a petition asking modi
fication of the financial plan of the Central New England,
with a view, it is said, to the making of a first mortgage cov
ering all the property in the system except the Dutchess
County line, on tvhich there is a mortgage of $350,000.—
V. 91, p. 1253, 870.
Chesapeake & Ohio R y.— M a t u r i n g B o n d s . — The $2,000,
000 Peninsular Division 6% bonds dated 1881 and due Jan. 1
1911 will be paid at the Central Trust Co., N. Y., 54 Wall St.,
on and after maturity, with the interest thereon from Oct. 1
1910 to Jan. 1 1911.— V. 91, p. 1629, 1574.
D ivid en d .
Chicago Consolidated Traction Co.—
P ro p erties
T ra n s
— See Chicago Railways above.— V. 91, p. 1629, 1511.
Chicago Railways Co.— E n d o f R e c e iv e r s h i p — C o n s o li
d a ted T r a c t io n P r o p e r t i e s T a k e n O v e r . — Judge Grosscup on
Dec. 27 signed the necessary orders providing for the pay
ment of the various judgments and claims against the com
pany on a compromise basis and the ending of the receiver
ship; also for the confirmation of the sale of the properties
of the Consolidated Traction Co. and its subsidiaries on
Nov. 30 last to Andrew Cooke and the sale by the latter of
all properties in the city limits to the Chicago Railways, as
fe r r e d .
1766
T H E C H R O N IC L E
provided by the city ordinance, and of the part of the old
Consolidated system outside of the city to the Cook County
Traction Co., a new company formed to operate the same,
w? W h ile th e C h ica g o R y s . am i the C ook C o u n ty T r a c tio n C o . w ill be a ffili
a te d , there w ill be n o c o n n e c tio n . It is said , eith er c o r p o r a t e o r o p e ra tin g ,
b e tw e e n th e t w o c om p a n ie s, passengers transferred at the c it y lim its are
b ein g ch a rg ed th e usual 5 ce n ts e x tra fa re fo r tr a n s p o r ta tio n .
— The Chicago Stock Exchange has listed $300,000
additional 1st M. 5% bonds of 1927, making the total amount
listed $22,800,000.— V. 91, p. 1629, 1385.
Chicago Rock Island & Pacific Ry.— B o n d s O f fe r e d a n d
S o l d . — N. W. Harris & Co. of New York, &c., this week of
fered at 8 9 and interest,and sold, $3,000,000 first and “ re
funding” mortgage 4% bonds due 1934. The bonds form
part of the $89,948,000 outstanding, including the $3,750,
000 recently sold to Speyer & Co. Compare V. 91, p. 1629,
1181.
Chicago Terre Haute & Southeastern Ry.— N e w M o r t g a g e s ,
& c .— This successor of the Chicago Southern Ry. and Southern
Indiana Ry. (which see above) is filing its “ first and refund
ing” mtge. for $20,000,000 in favor of the Illinois Trust &
Savings Bank and William H. Henkle, trustee; also its in
come mtge. of $6,500,000 in favor of the First Trust & Sav
ings Bank and Louis Boisot, trustee, all of Chicago. The
new officers are: President, Myron J. Carpenter; Treasurer,
E. N. Young, and Secretary, Edward Robyn.— V. 91, p.1446
City Ry. of Los Angeles.— See Los Angeles Ry. Corpora
tion below.
Columbus (O.) Railway & Light Co.— A s s e s s m e n t .—
W. B. Jackson, in the “ Ohio State Journal,” says:
L isted .
F o r som e tim e there h a v e been ru m ors in financial circles th a t th e b o a rd
o f d irectors o f th e C olu m b u s R a ilw a y & L ig h t C o. has been c o n s id e r in g
ta k in g a d v a n ta g e o f the lia b ility o f th e s to c k t o an assessm ent in ord er
t o o b ta in th e fu n d s requ ired t o p a y th e floatin g d e b t Incurred In m akin g
im p ro v e m e n ts fo r th e u n d e rly in g c o m p a n ie s an d in figh tin g the strike o f
last su m m er.
U nder the term s o f th e lease, the c o m p a n y m akes all im
p r o v e m e n ts o n th e p rop erties o f th e u n d e rly in g c o m p a n ie s and is re im
b u rsed fo r th e o u t la y b y ta k in g o v e r the secu rities o f the u n d erlyin g c o m
pan ies a t p a r .
H o w e v e r, as the securities ava ila b le are n o t salable in the
presen t sta te o f th e m arket at par, th e fo llo w in g o f this plan w o u ld m ean
a co n s id e ra b le loss t o the leasing c o m p a n y .
T h e strik e C03t th e c o m p a n y a large a m o u n t o f m o n e y , an d this, also ,
m ust be taken ca re o f , an d as the s to ck at the d a te o f Its issue In 1903 w as
o n ly p a id u p t o the e x te n t o f $20 a share, It is still assessable up t o $80 a
share a d d itio n a l; bu t it is p ro v id e d th a t n o m ore th an $5 a share Is t o b e
ca lled in a n y on e six m o n th s . T h e c o m p a n y In 1909 earn ed o v e r 6 % o n
its s to c k , an d had It n o t been fo r the strik e w ou ld h a v e earn ed o v e r 7 %
this y ea r, an d there w o u ld h a ve been n o n e ce ssity fo r an assessm ent, w hile
d iv id e n d s w ou ld h a ve been c o n tin u e d .
It Is p o in te d o u t b y m em bers o f the b o a rd th a t th e c o m p a n y at presen t is
p a y in g a high Interest ra te o n its floa tin g d e b t , w h ich is ca rrie d b y th e
b a n k s, this Interest ch a rge ru n n in g, it Is sa id , fro m $24 ,0 0 0 t o $ 30 ,000 a
year.
W ith the p a y m e n t o f tills d e b t b y the m o n e y raised fro m th e s t o c k
h old ers , this h e a v y ch arge w ill be c u t olt a n d the m o n e y thus s a v e d w ill bo
a p p lic a b le t o d iv id e n d s .
.
. .
, .
W h ile n o offic ia l an n ou n ce m e n t has been m ad e b y th e b o a rd o f d ir e c to r s ,
a n d m em bers d eclin e t o discu ss th e q u e stio n until o fficia l a c tio n has been
ta k en , it is u n d erstood th at it Is p ro p o s e d to call fo u r assessm ents d u rin g
th o co m in g y ea r o f $2 50 e a ch , t o be paid e a ch q u a rte r. T h is w o u ld raise
$ 5 0 0 ,0 0 0 , w h ich w ou ld be am p le t o p a y o il the floatin g d e b t an d leave the
earn in gs a p p lica b le t o d iv id e n d s . It is p ro p o se d t o place the s t o c k o n a
reg u la r 1 % a q u a rter d iv id e n d basis, b egin n in g w ith the d iv id e n d s p a y a b le
A p ril 1. T h is plan m a y be c h a n g e d , b u t It Is th e o n e n o w b ein g discussed
In financial c ircles. It Is p ro b a b le th at th e full details o f the p lan fo r fin a n c
in g w ill be p la c e d b efore th e s to ck h o ld e rs at th e ann ual m eetin g th e last o f
n e x t m o n t h .— V . 91, p . 1095, 870 .
Cook County Traction Co., Chicago.— N eiu C o m p a n y . — See
Chicago Railways above.
Cumberland Ry. & Coal Co.— T e r m s o f S a l e . — See Domin
ion Steel Corporation, Ltd., under “ Industrials” below.—
V. 91, p. 1629.
.
Delaware & Hudson Co.— D i v i d e n d R a te R e m a i n s 9%.—
The directors have declared an annual dividend of 9%, pay
able in quarterly installments of 2 ^ % each, as follows:
March 20 on stock of record Feb. 25, June 20 on stock of
record May 27, Sept. 20 on stock of record Aug. 28 and
Dec. 20 on stock of record Nov. 27.
T h e d iv id e n d a pp lies to th e $ 42 ,502 ,00 0 o u ts ta n d in g s to c k and su ch a d d i
tion a l s to c k as m a y be issued In e x ch a n g e fo r c o n v . secu rities o r o th erw ise.
A n n u a l D ividend R ecord S in ce 1885.
1886. 1887.
1888.
’ 89 f o '9 6 .
’ 97 to ’ 00.
'01 to ’ 06.
’ 07 to ’ l l .
3
5
6
7 y e a r ly
5 y e a r ly
7 y e a r ly
9 y e a rly
— V . 0 1 , p. 1629, 1276.
N ew M a n a g er.
— Archibald D. Russell of New York has
been elected a manager to succeed the late J. RogersMaxwell.
— V. 91, p. 790.
Delaware Lackawanna & Western RR.— N e w M a n a g e r . —
President W. II. Truesdale has been elected a manager to
succeed the late J. Rogers Maxwell.— V. 91, p. 1629, 716.
Enid Ochiltree & Western RR.— R e c e i v e r s h i p . — The Dis
trict Court of Dallam County, Tex., on Dec. 20 appointed
II. G. Hendricks of Amarillo as receiver.
T h e r o a d w as p r o je c te d fro m D a lh a rt, T e x ., t o O ch iltre e , 113 m iles, o f
w h ich 10 m iles, fro m D alhart t o V ic t o r y , w as o p e n e d fo r o p e r a tio n on O ct.
31 last, an d som e a d d itio n a l grading has been d o n e . F a rm ers and others
a lo n g th e line su b s crib ed , It is sa id , fo r th e c o m p a n y ’s s to c k t o th e a m o u n t.
It Is r e p o r te d , o f a lm ost $ 5 0 0 ,0 0 0 , o f w hich a large part has been paid In.
T h e T e x a s R R . C om m ission ers have a u th o rize d b o n d s at $ 2 0 ,0 0 0 per m ile,
b u t a p p a r e n tly n on e h a be e n s o ld .— V . 90, p . 447 .
Forty-Second Street Manhattanville & St. Nicholas Avenue
Ry., New York.— O p e r a t i o n b y S to r a g e B a t t e r i e s . — The com
pany has applied to the Public Service Commission for per
mission to permanently change the method of operation on
the 110th Street crosstown line, running to the Fort Lee
ferry, from horse to sto’rage-battery power.
T h e ch a n g e , w h ich w as r e c e n tly p u t Into e ffe ct, has w o rk e d s a tisfa c to r ily ,
th e cars e q u ip p e d w ith th e G o u ld S to r. B a tte ry C o . cells, it is c la im e d , h a v in g
ru n o v e r 100 m iles o n a sin gle ch a rge . T h e cars co n sist p a rtly o f o ld h orse
cars reb u ilt an d p a rtly o f n ew ca rs. T h e 28th & 29th S t. R y . has m a d e an
arran gem en t for th e use o f sto ra g e b a tte r y cars r e c e n tly c o n s tr u c te d b y
th e T h ir d A v c . R R .
— Justice Amend in the Su
preme Court on Dec. 28 made an order, on the application of
the Attorney-General, annulling the following franchises, on
the ground that the same have lapsed:
U n u s e d F r a n c h is e s A n n u ll e d .
IV O L . L X X X X1
T w e lfth A v c ., fro m 36th to 42d S t.; 10th A v c . , fro m 34th t o 35th S t.£
12th A v e ., fro m 3 1th to 35th S t.; 109tli S t ., fro m 1st to P leasan t A v c . , an d
86th S t., fro m 10th A v e . to R iv e rs id e D rive.
In the case o f th e A m s te rd a m A v c . lin e, fro m 71st to M a n h a tta n S t ., t h e
c o m p a n y . It Is o rd e r e d , shall fo rfe it a n y rig h t to lay o r r e -la y tra ck s , b u t is
g iv e n the rig h t to run cars o v e r the e x is tin g tr a c k s .— V . 91, p . 1385, 1025.
Hibernia Mine RR.— L e a s e E x t e n d e d . — The lease of the
road to the Central RR. of New Jersey made in 1890, which
expired Oct. 1 last, has been extended for 20 years from that
date. The rental, formerly $12,000 yearly, has been
changed to $6,000, equal to 3% on the $200,0 00 stock.
Hocking-Sunday Creek Traction Co.— B o n d s . — The com
pany has made a mortgage to the Columbus Savings & Trust
Co., as trustee, to secure an authorized issue of $200,000
1st M. 6% 20-year gold bonds dated Nov. 1 1910, issuable
at $13,333 per mile.
B o n d s arc ca lla b le at p ar o n a n d a fte r N o v . 1 1915.
D e n o m in a tio n $ 1 0 0 ,
$500 an d $ 1 ,000 e a c h . T h e c o m p a n y p ro p o s e s to pla ce the b o n d s lo c a lly .
C a pital s t o c k a u th o r iz e d , $15 0 ,0 0 0 each o f c o m m o n an d 6 % p re f. s t o c k .
P resen t Issues, c o m m o n , $ 1 2 5 ,5 0 0 , a n d p re fe rre d , $ 11 0,00 0; p a r , $100.
T h e c o m p a n y w as In co rp o ra te d in O h io o n Ju n e 14 1909 an d is b u ild in g a
line be tw e e n N e lso n v ille , A th e n s a n d G lou ster, O ., 15 m iles. T h e o ffic e r s
are: P r e s ., E . B . Y o u n g ; S e c ., C h as. A . V o rh e s, a n d T r e a s ., J . G aston C o c.
Lake Shore & Michigan Southern Ry.— L i s t e d . — The N. Y.
Stock Exchange has listed $8,927,000 additional 4% 25-year
bonds, due 1931, with authority to add, prior to July 1 1911,
$6,073,000 additional bonds on sale and delivery, making the
total amount authorized to be listed $50,000,000.
O f th e $ 1 5 ,0 0 0 ,0 0 0 b o n d s, $ 8 ,9 2 7 ,0 0 0 h a v e b e e n so ld a n d deliv ered in
a c c o r d a n c e w ith re so lu tio n s a d o p te d b y th e d ire cto rs on D e c. 1 1909, w h ich
a u th o riz e d the Issue o f said a m o u n t to p r o v id e fu n d s t o p a y th e $ 1 5 ,0 0 0 ,0 0 >
3 -y e a r 5 % g o ld n otes a t m a tu r ity F e b . 1 1910, an d c o n t r a c t has been en tered
in to fo r th e sale o f the re m a in in g b o n d s .
— For the nine months ending Sept. 30:
E a r n in g s.
N in e
O perating
N et (a fter
Other
Total
B a lan ce.
M o n th s. R even u es.
T a x es ).
In com e.
D ed u ctio n s.
S u rp lu s.
191 0____ $3 6 ,9 0 0 ,3 7 9
$1 0 ,0 5 2 ,3 5 7
$ 6 ,928,179
$ 6 ,0 2 6 ,7 4 3 $ 10 ,353 ,79 3
190 9____ 3 2,731,111
11,130,308
............... _ .........................
.......................
F ro m th e surplus as a b o v e fo r the 9 m o s. o f 191 0, $ 1 0 ,3 5 3 ,7 0 3 , w ere de
d u c te d an e x tra d iv id e n d o f 6 % , paid M c h . 30 1910, a n d the regular sem i
an n u al d iv id e n d o f 6 % on J u ly 29 1910, ea ch ca llin g f o r $ 2 ,9 6 7 ,9 9 0 , le a v in g
$ 4 ,4 1 7 ,8 1 3 .— V . 90, p . 1015.
Laramie Hahn’s Peak & Pacific Ry.— N o t e s O f fe r e d — C o n
— A. E. Butler & Co., Chicago, are offering,
at par and interest, $100,000 (of a total issue of $1,000,000)
five-year 7% gold notes dated Jan. 15 1910 and due Jan. 15
1915, but redeemable on any int. date after Jan. 15 1911 at
102^ and int. Par $100, $500 and $1,000 (c*). Int. J. & J.
15 at U. S. Trust Co., Boston, trustee.
tract a s to B o n d s .
C apitalisation (Issu ed ), as Show n by B a n kers' Circular.
S to c k (a u th o rize d , $ 1 0 ,0 0 0 ,0 0 0 )______________________
....$ 9 ,0 0 0 ,0 0 0
First m tg e . 6 % . d u e 1929 (a u th . $80 0 ,0 0 0 , bu t n o m ore th an
$24 0,00 0 to be Issu e d )_____________________
2 4 0 ,0 0 0
First ref. 6 % , d u e 1932 (a u th . $ 1 ,8 0 0 ,0 0 0 ; $ 2 4 0,00 0 reserved
to retire 1st 6 3 ) . . _________________________________________________
990 ,0 0 0
N o te s , due Ja n . 1 1915 (a u th . Issues, $ 1 5 0,00 0 and $ 1 ,0 0 0 ,0 0 0
r e s p e c tiv e ly ), is s u e d ._____ _____________
1 ,450,000
G eneral m tg e . 5 % b o n d s, d u e 1959 (a u th o rize ;! $ 1 0 ,0 0 0 ,0 0 0 )___See b e lo w
$90 0,00 0 o f th e general m tg e . b o n d s h a v e been Issued an d arc h eld as
co lla te ra l tor n otes d u e J a n . 1 1915, a n d the ba la n ce arc u n d e r c o n t r a c t fo r
sale. P ro v is io n Is m ad e to retire th e n otes n o w Offered fro m th e flrst
m o n e y s re ce iv e d fro m th e sale o f these b o n d s, an d also fo r re fu n d in g all
p re vio u s issues o f b o n d s an d fo r d o u b le -tra ck in g , e x te n s io n s , &o.
D ig e s t o f L e t t e r f r o m
P r e s . F r e d A . M ille r , L a r a m ie , W y o . , D e c . 2 1 9 1 0 .
T h ese n o te s a r c issued to a n tic ip a te m o n e y s d e riv e d fro m th e sale o f
$ 8 ,6 0 0 ,0 0 0 gen eral m o rtg a g e 5 % g o ld b o n d s d u e 1959, w h ich a rc u n d er
c o n t r a c t fo r sale, an d It is e xp re ssly stip u la te d th a t n o n e o f the p r o c e e d s
o f th e a b o v e -m e n tio n e d $ 8 ,6 0 0 ,0 0 0 b o n d s shall be used fo r a n y o th er p u r
p ose th an re tirin g th ese n otes until th e n otes are fu lly p a id .
T h e c o m p a n y w as In co rp . in 1901 to bu ild a line o f ra ilw a y from L a ra m ie,
W y o ., o n th e U n ion P a cliic R R ., in to the N o rth P a rk d is trict o f C o lo ra d o .
T h e r o a d has been c o m p le te d an d is in o p e r a tio n as far as F o x p a r k , W y o . ,
a d is ta n c e o f 55 m iles w est an d sou th fro m L a ra m ie, W y o .
F rom F o x park co n s tr u c tio n is progressin g r a p id ly In a so u th e rly d ire ctio n in to N orth
P a rk , a fertile p lateau 40 m iles w id e b y 60 m iles lon g, su rro u n d ed b y
m o u n ta in s a n d w ith no o th e r a ccessible o u tle t. T h e ro a d Is stan d ard g a u g e
and e q u ip p e d fo r the h a n d lin g o f all k in ds o f tra ffic.
T h e railw ay Is o p e n in g up a va st territory w h ich h e re to fo re has been
c o m p le te ly w ith o u t railroad fa cilitie s, Inclu din g the o n ly n atu rally rich
anil fertile se ctio n s o f W y o m in g an d C o lo ra d o th a t h a ve n o t y e t b een d e
v e lo p e d .
In this te r rito r y Is a large to n n a ge o f varied an d staple c h a ra cter,
— tim b e r, h a y , a lfa lfa and o th e r agricu ltu ral an d anim al resou rces.
A c c o r d in g t o th e re p o rts o f e x p e r ts , w h o h a ve e x a m in e d an d d rilled th e
coal ilclds at C o a lm o n t. the present d e stin a tio n o f the r o a d , the v e in c o n
tains in excess o f 2 5 0 ,0 0 0 ,0 0 0 ton s o f c o a l o f su p erior q u a lity .
In this
t c r ilt o r y . as is w ell k n o w n , there has been a c o n s ta n t s h o rta g e o f coal su p p ly .
T h e c o n tr o l o f this c o a l p r o p e r ty Is ve ste d in th e sam e han ds as th e c o n tr o l
o f th e railroad , a n d thus assures fo r th e railroad th e e x clu s iv e h a n d lin g o f
this c o a l. A n e x te n sio n Is p r o je c te d an d s u rv e y e d in to th e great a n th ra
c ite c o a l fields o f C o lo r a d o , w hich at the presen t tim e are u n d e v e lo p e d o n
a c c o u n t o f lack o f tra n s p o rta tio n facilitie s. A 2 5 -y e a r agreem en t has been
en tered Into fo r a m u tu al e x ch a n g e o f business w ith th e U n ion l’ a ciflc R R .
.B ased o n this d iv e rsllle d to n n a g e , as m e n tio n e d a b o v e , J . G . W h ite & C o.
estim a te earnings fo r the flrst y e a r on the co m p le te d line as fo llo w s: G ross,
$ 1 ,1 4 6 ,0 0 0 ; o p e ra tin g e x p e n se s, $ 74 4,90 0: net earnings, $40 1,00 0: an d it is
e stim a te d th a t a t th e en d o f three years the earnings will a m o u n t to at least
$ 1 ,5 0 0 ,0 0 0 . T h e in terest ch arges o n the in d eb ted n ess prior to this Issue
o f n o te s , w hen the entire ro a d Is c o m p le te d , will be $13 9 ,5 0 0 , w h ich on
a b o v e e stim a te w ill leave $ 2 6 1,60 0 to a p p ly o n interest ch arges o f $ 7 0 ,0 0 0
o n this Issue o f n o te s, o r o v e r 3
tim es the ch arges.
D ire cto rs: F re d . A . M iller, L a ra m ie, W y o ., P re s.; W a lla ce H a c k e tt,
P o r ts m o u th , N . H ., V lc c -P r e s .; L . W a ld o T h o m p s o n , W o b u r n , M ass.,
T r e a s .; A rth u r S . H o w e , B o s to n , M ass., S e c . an d A s s t. T re a s.; C ol. E . J .
B e ll, L a ra m ie ., W y o .; Chas. E . D avis, M ered ith , N . I I ., an d O tto G ra m m ,
L a ra m ie, W y o .— V . 9 1 , p . 1574.
Lehigh Valley RR.— R e p o r t D e n i e d .— An officer of tho
company denies the newspaper report that since July 1 1910
the company has bought up $2,500,000 of its $15,500,000
collateral trust 4% bonds of the Coxe Brothers issue and
placed them in its treasury for future -use.
See also
“ Wages” below.— V. 91, p. 1711, 1574.
Long Island RR.— D e c i s i o n .— The Court of Appeals at
Albany (opinion by Werner, J.) on Oct. 11 decided in favor
of the city the suit brought to restrain the latter from
removing the company’s tracks from the surface of Atlantic
Ave., Brooklyn.
T h e L o n g Isla n d R R ., u n d e r a lease fro m th e N assau E le ctric R R .
(B r o o k ly n R a p id T ra n sit S y ste m ) e x te n d in g to 1976, o p e r a te s o n A tla n tic
A v e n u e o n p a r tly u n d e rg ro u n d a n d p a r tly e le v a te d track s, u n d er th e
p ro v is io n s o f the A tla n tic A v e n u e Im p r o v e m e n t A c t o f 1897. I t w as h eld
th a t b y a v a ilin g Itself o f the p ro v isio n s o f th a t A c t an d r e m o v in g its tracks
fro m the su rfa ce It fo rfe ite d its rights to th o use o f th o s u r fa c e . T h e o p in io n
w as g iv e n a t length In t h o ‘ ‘ N ew Y o r k L a w Jo u r n a l” o f O c t 2 4 .— V .9 1 , p .4 0 3
Deo. 3 1 191U. ]
T H E C H R O N IC L E
Los Angeles Interurban (Electric) R y. — C o n tr o lle d
by S o.
— See Los Angeles Ry. Corp. below.— V. 87, p. 936.
Los Angeles Railway Corporation.— S u b - C o m p a n y to B u i l d
E x t e n s i o n s — N o t to T a k e O v e r E x i s t i n g P r o p e r t i e s . — H. E.
Huntington has created a new corporation, the City Railway
Co. of Los Angeles, the mission of which is to build new ex
tensions and new lines for the Los Angeles Railway Corpora
tion, the Huntington company which now controls all the
city street car lines. The (.'ity Ity. Co. lias a capital stock of
85,000,000, fully subscribed, all of which will be owned by
the Los Angeles Ry. Corporation, and it is proposed to make
a $5,000,000 mtge. to cover the new lines when built.
P ac. C o.
M r. H u n tin g to n re c e n tly en tered Into an agreem en t w ith th e S ou th ern
P a cific C o. b y w h ich th a t c o m p a n y , h a v in g acq u ire d th e h alf Interest In
th e P a cific E l. R y . (V . 91, p. 1380) h e r e to fo re o w n e d b y M r. H u n tin g to n ,
retired fro m all Interest In the loca l tro lle y business In L os A n geles.
The
c it y lines o f th e L os A n ge le s & R e d o n d o R y . C o ., north o f H a w th o rn e ,
V e r m o n t H eigh ts an d H o m e w a r d , w ere th en acq u ire d b y th e L o s A n geles
R y ., as w ere also the Interurban lines o f the P a cific E le c tr ic R y . n o rth o f
V e r m o n t H eigh ts, an d all c it y lines o f th e P a cific E le c tr ic R y . an d L os
A n geles In teru rb a n R y ., m ak in g the to ta l m ileage o f th e L os A n ge le s R y .
344 m iles. T h e Los A n geles R y . C o rp o ra tio n w as In co rp o ra te d o n O c t . 22
1910 w ith c a p ita l s to c k o f $ 2 0 ,000 ,00 0 and first and ref. b o n d s $ 2 0 ,0 0 0 ,0 0 0 ;
an d t o o k o v e r the ow n ersh ip o f all the p h y sica l p ro p e rtie s o f the L o s A n ge le s
R y . C o. T h e entire Issue o f s to c k o f th e " c o r p o r a t io n ” is o w n e d b y II. E .
H u n tin g to n , e x c e p t d ir e cto r s ’ q u a lify in g s t o c k . T h e o ffic e r s are: I I . E .
H u n tin g to n . P res.; H ow a rd H u n tin g to n , V ic c -P r e s . and G en. M g r.; C. A .
H en d erson , S ec. and T reas.
T h e P a cific E lectric R y ., L o s A n geles In te ru rb a n R y . a n d th e L o s A n
geles & R e d o n d o R y . are n o w o w n ed e n tire ly b y th e S o u th e rn P a cific C o .,
w ith the ex c e p tio n s n ote d a b o v e . T h e S o . P a c. C o. also ow n s R iv e rs id e
& A rlin g ton R y . atul th e San Ilern a rd ln o V a lle y T r a c tio n C o. C om p a re
V . 91, p . 1380.
Los Angeles & Redondo R y. — C o n tr o lle d b y S o . P a c . C o .—
See Los Angeles Ry. Corporation above.— V. 91, p. 717.
Manhattan Bridge (N. Y .). — T h r e e -C e n t F a r e L i n e — N e w
A p p l i c a t i o n . — The company on Dec. 19 submitted a propo
sition to the city covering the use of the Williamsburgh and
Brooklyn bridges and two of the four tracks of the Centre
Street subway, its proposed route extending from Flatbush
Ave. station in Brooklyn to the City Hall, Manhattan.
T h e P u b lic S ervice C o m m ission In d u ly last (V . 91, p. 154) a p p ro v e d the
p ro p o s e d rou te fro m the l'la tb u s h A v e . sta tio n across M an h a ttan H ridge
and th en ce th ro u g h Canal S tre e t, M an h a ttan , t o a p o in t on the N orth
R iv e r , p r o v id e d tra ck a ge rights and p r o p e r ty co n se n ts c o u ld be o b ta in e d
In Canal Street: b u t this the c o m p a n y has a p p a re n tly been un a ble to d o .
T h e c o m p a n y offers t o p a y the c it y an a m o u n t equal to the ann u al Interest
an d a m ortiz a tion o n all c o r p o r a te s to ck Issued b y the c it y fo r the C en tre S t.
su b w a y a n d Its bridge c o n n e c tio n s , the c it y to have the lig h t t o te rm in a te
the lease at a n y tim e after 5 years on p a y m e n t o f c o s t o f e q u ip m e n t plus
1 0 % .— V . 91, p . 154.
Marquette County Gas & Electric Co., Ishpeming and
Negaunee, Mich.— B o n d s O f fe r e d C o v e r i n g I n t e r u r b a n R a i l
— The Farwell Trust Co.,
Chicago, and their correspondents, Chapin & Co., Ltd.,
39 Lombard St., London, E. C., England, are offering at
100 and int. the unsold portion of the present issue of
$250,000 1st M. sinking fund 6% gold bonds dated Jan. 1
1910 and due Jail. 1 1930, but redeemable at 105 and int. for
sinking fund purposes or otherwise, on any interest day.
Int. J. & J. at First Trust & Savings Bank, Chicago, the
mtge. trustee. Par $l,0()0(c*). Tot. auth. issue, $1,000,000.
w a y a n d (la s a n d E le c t r ic S y s t e m s .
Abstract of Letter of A. L. Drum & Co., Engineers, Chicago, Dec. 13 1910.
(This firm lias had general su p e rvisio n o f th e c o m p a n y fo r th e p ast thre
yea rs, b o th as to p h ysica l d e v e lo p m e n t and acco u n tin g .]
O rganization.— G en erates and d istribu tes gas and e le ctricity fo r lig h t
in g , p ow er, fu el, & c .. In Ish pem in g and N egaunee (co m b in e d p o p u la tio n
a b o u t 2 4 ,0 0 0 ), and op era te s an electric Interurban ra ilw a y in an d be tw e e n
th e tw o c it ie s . T h e franchises are liberal; th e y a rc as fo llo w s : (a) Ish
p em in g — Gas a n d ele ctr ic perpetu al; street railw ay until 1930.
(b) N e
g a u n ee— Gas until 1933; ele ctric ligh t until 1921; street railw ay until 1930.
T h ere Is n o c o m p e t it io n In cith er c it y e x c e p t fro m a m u n icip a l e le ctric
pla n t In N egau n ee, w h ich furnish es m o st o f the lo ca l ele ctric ligh tin g.
Bonded D ebt.— T h ere are o u tsta n d in g (n )$ 2 5 0 ,0 0 0 1st M . sinking fu n d
0 % g o ld b on d s due Ja n . 1 1930 an d (6) $20 0,00 0 6 -year 0 % gold d e b e n tu re
b on d s m atu rin g Ja n . 1910, b o th issues d a te d Jan . 1 1910, interest p a y a b le
J . & J . a t F irst T ru s t & S av in gs B a nk, C h icago.
T h e first m ortg a g e c o v e r s all p ro p e rty n o w ow n e d o r hereafter a cq u ir e d .
In clu d in g fra n ch ises, and pro v id e s: (a) T h a t an an n u al sin kin g fu n d shall
b e m ain tain ed in 1913, 1914 and 1915 e q u a l to 1 % o f the par v a lu e o f
m tg e . b on d s o u ts ta n d in g , and from 1910 u n til 1929, In cl., 2 % y e a r l y
(ft) th at the c o m p a n y shall keep its p ro p e r ty In g o o d repair; (c) th a t b o n d s
In e x c e s s 'o f th e present $25 0,00 0 shall b e Issued o n ly fo r Im p ro v e m e n ts or
ex ten sion s at 8 5 ’% o f c o s t th e re o f, o r in re tirem en t o f th e d eb en tu res o f 1916;
b u t n o m ortg a g o b on d s shall be Issued unless th e net earnings fo r th e six
m on th s n e x t preced in g shall h ave been equ a l t o th e Interest fo r a full year
o n th e m ortg a g o b o n d s. Inclu din g those It Is p ro p o s e d t o sell.
T h e d eb en tu re b on d s due 1916 are au th orized to th e a m o u n t o f $30 0,00 0;
$20 0,00 9 h a v e been Issued and ad d ition a l b o n d s m ay be sold o n ly fo r per
m an en t Im p rovem en ts or exten sion s at 8 5 ’% o f th e c o s t th e re o f. 'I’ llesc
d e b e n tu re b on d s arc s u b je c t to call on a n y Int. d a y a t 100 an d int.
P r o p e r ty .— T h e plan t is m o d e rn and am p le fo r Im m ed iate needs.
It in
clu d es (a) b rick b u ild in g w ith new G eneral E lectric ste a m -tu rb in e ge n e ra to r,
total c a p a c ity 950 k . w .; c o a l trestle, 400 ton s sto ra g e c a p a c ity : c o a l-h a n d
lin g plan t, & c.: (b) b rick gas bu ildin g w ith fo u r benches o f 6 retorts each ,
100 ,0 0 0 -cu . f t. gas h old er, & c.; (c) I'A m iles o f ele ctric street ra ilw a y tra ck .
B a lan ce Sheet Oct. 31 1910, A d ju sted to P resent P la n o f O rganization.
L ia bilities ($ 1 ,2 4 5 ,7 4 3 ).
A ssets ($ 1 ,2 4 5 ,7 4 3 ) .
P la n t an d fra n c h is e s ____ $ 1 ,1 3 8 ,0 7 8 C apital s to c k (In $100 s h ’s) $750,000
A d d i t i o n s _________________
20,048 1st M . 6 % (a u th . $1,00 0 ,0 0 0 ) 250 ,000
O ffic e lix tu r c s ____________
999 D eb. 6 % (a u th . $300,000)
200 ,000
A c c o u n t s r e c e iv a b le _____
17,202 A c c o u n ts p a y a b le , & c ____
16,652
S u p p l i e s ----------------------------20,467 In terest o n b o n d s ________
7,500
P rep a id a c c o u n t s _________
57 T a x e s _____ _______________
2,6 2 5
C a s h ----------------------------------47,691 S u r p lu s ____________________ ‘ 18,900
E a rn in g s Y ears 1907 to 1910 (2 Af o s . 1910 E s t .)— E stim ate f o r 1911 to 1914.
[T he earnings fo r s o m e tim e h a v e been su fficie n t b o th to p a y in terest
a n d t o p r o v id e fo r o r d in a r y e x ten sion s an d b e tte rm e n ts.]
1907.
1908.
1909. 19I0(e*t.). 1911.
1912.
1913.
1914.
......... $85,700 $97,320 $107,914 $122,000
-N ot statedN e t ......... .$16,341 $21,094 $28,565 $36,000 $41,000 $46,000 $52,000 $58,000
F o r the ten m on th s en ded O ct. 31 1910 the c o m p a n y re p o rts gross earn
ings o f $99 ,859 (gas, $ 2 2 ,7 0 3 ; e le ctr ic ligh t, $41 ,286 ; r a ilw a y , $34 939m erca n tile (n e t), $ 8 7 1 ); net ea rn in gs (a fte r taxes o f $ 2 ,832) a v a ila b le fo r
interest, $ 2 7 ,8 3 6 , or o v e r t w ic e the interest re q u ire m e n ts fo r th e m tg e
b o n d s, a n d , a fter p a y m e n t o f all p rio r ch a rge s, a b o u t 1 y tim es th e a m o u n t
req u ired for Interest on th e d e b e n tu re Issue.— V . 8 3 , p . 1590.
Maryland Delaware & Virginia R y . — T e r m i n a t i o n o f M i
n o r i t y S t o c k P o o l .— The voting trust, which holds about $1,
000,000 of the SI,500,000 4% non-cum. pref. stock,will ex
pire Jan. 2. Holders of stock trust certificates are notified
to present their trust recepts at the banking house of J.S.Gittings & Co., Baltimore, for exchange for stock cer
tificates.— V. 91, p. 1029.
1767
Massachusetts Electric Companies.— N e w T r u s t e e , & c .—
Gardiner M. Lane has been elected a trustee to succeed
Eugene N. Foss, Governor-elect of Massachusetts, who re
signed. Galen L. Stone has taken Mr. Foss’s place on the
executive committee.— V. 91, p. 1574, 1571.
Metropolitan Street Railway, N. Y. City . — P l a n o f R e
o r g a n iz a tio n
s io n
( S u b je c t to A p p r o v a l o f P u b l i c S e r v ic e C o m m i s
.)— The plan of reorganization which is now in the hands
of the Public Service Commission, 1st Dist., is dated Oct. 1
1910 and was prepared by the “Joint Committee,” Guy E.
Tripp, Chairman, wilh (he co-operation and approval of
the 5% and 4 f/ 0 committees, as follows:
" 5 % C o m m itte e " fo r gen. (and c o l. tr .) M . 5s d a te d 1897: A le x a n d e r J .
H e m p h ill (C h a irm a n ), D o n a ld M a c k a y , E d w a rd II. L a d d J r ., W illia m P .
D ix o n an d H en ry E v a n s , w ith L . B . F ran k lin as S e cre ta ry .
“ 4 % C o m m itte e " fo r r e fu n d in g M . 4s d a te d 1902: E d w in S . M arston
(C h a irm a n ), E d w in M . B u lk le y , R o b e r t Y . I le b d e n , O tto H . K a h n an d
G u y E . T r ip p , w ith F red erick G eller as S ecre ta ry .
J o in t c o m m itte e c re a te d b y th e fo re g o in g c o m m itte e s : G u y E . T r ip p
(C h a irm a n ), W illia m P . D ix o n , O tto H . K a h n , E d w a rd I I . L a d d J r ., a n d ,
e x -o ffic lo , A le x a n d e r J. H em p h ill an d E d w in S. M arston , w ith A le x a n d e r
J . H em p h ill as S ecre ta ry .
D epositaries: G u a ra n ty T ru s t C o . o f N . Y . fo r said 5 % b o n d s and
F a rm ers’ L o a n & T ru s t C o . fo r said 4 % b o n d s , th e 5 % certificates herein
m e n tio n e d be in g th e c e rtifica te s o f d e p o s it o f th e G u a ra n ty T r. C o ., th e
4'% certifica te s th ose o f th e F a rm ers’ L o a n & T ru s t C o.
Chairman Guy E. Tripp of the Joint Committee says:
“ The plan provides for securities, including the new securi
ties proposed to be issued and old securities left undisturbed,
to a total amount of about S96,000,000, which is a reduction
of about $40,000,000 in the present outstanding securities
and obligations. The fixed charges representing the interest
on the bonds adjusted have been reduced by an amount ex
ceeding $1,000,000 per year. The new securities to be
issued are approximately as follows: $11,768,000 new
fixed-charge 4% bonds; $39,000,000 new adjustment income
bonds and $14,000,000 stock. It is estimated that the net
earnings,after setting aside a depreciation fund, will be
sufficient to pay immediately from 2 } / 2 % to 3% on the
adjustment income bonds.
“The holders of the stock and improvement notes of the
Met. Street Ry. Co. are given the right of participation on
the payment of an assessment sufficient to furnish the new
cash needed, which it is estimated will not exceed $10,000,
000. The plan does not provide for the participation of the
Metropolitan Securities Co. or the New York City Ry.Co.,
but the holders of personal injury claims are offered the right
to participate under the same terms as the most favored
bondholder. No assessment is required of these tort-claim
ants. Ford, Bacon & Davis, the receivers’ experts, have
prepared an inventory and appraisal of the properties of the
system which show a valuation largely in excess of the total
securities to be outstanding after the adoption of the plan.”
Status of Present Company—Cash, & c ., Requirements.
T h e M e tro p o lita n C o m p a n y o w n s a n d c o n tr o ls an e x te n s iv e sy stem o f
stre e t ra ilw a ys, o n w h ich there has been e x p e n d e d fo r co n s tr u c tio n re
co n s tr u c tio n , e x te n sio n , im p ro v e m e n t an d e q u ip m e n t, as th e J o in t C om
m itte e is a d v ise d b y e x p e rt engineers an d a c c o u n ta n ts , a sum in e xcess o f
$ 1 2 0 ,0 0 0 ,0 0 0 .
D ecrees o f fore clo su re s, re s p e c tiv e ly , o f th e general m o r t
g age and o f th e r e fu n d in g m o rtg a g e h a v e been en tered b y th e C o u rt. T h e
J o in t C o m m itte e co n te m p la te s th e p u rch ase o f said p ro p e rtie s at th e sales
th e r e o f, s u b je c t t o th e term s o f said re s p e c tiv e decrees, an d th e o rg a n iz a
tio n o f a n ew c o m p a n y w h ich shall Issue th e n ew securities sh ow n b e lo w .
(.1) O utstanding S ecu rities o f S ystem —
Issu ed .
P ledged,
[ H eld by P u b .
B o n d s, d e b e n tu re s an d co llateral
n otes (sch edu le A ) . . . _____ _______ $5 7 ,2 8 5 ,0 0 0 $ 3 ,7 0 0 ,0 0 0
$5 3 ,5 8 5 ,0 0 0
S to ck s (s c h e d u le B ) ......................... .........
6 7 ,9 0 0 ,0 0 0
5 ,7 9 2 ,0 0 0 62,1 0 8 ,0 0 0
T o t a l . . ...............................................$ 1 2 5 ,1 8 5 ,0 0 0 $ 9 ,4 9 2 ,0 0 0 $11 5 ,6 9 3 ,0 0 0
S p ecia l Item s—
Im p ro v e m e n t n otes m a d e b y M etrop olita n S t. R y . C o. to th e
M etrop olita n S ecurities C o. w ith o u t Interest.
[There Is a
p ossib ility o f a cla im th a t th ere is an a d d ition a l a m o u n t o f
$ 4 ,0 0 0 ,0 0 0 o f said n otes ou tsta n d in g , fo r th e trea tm en t of
w hich p o w e r is reserved to the J o in t C o m m itte e ]____________
4 ,0 0 0 ,0 0 0
A llo w a n ce s d e cre e d b y C o u rt in fa v o r o f to rt cla im a n ts, est. a t
1,8 7 5 ,0 0 0
M axim u m e stim ate o f cash re q u ir e m e n ts______________________ *10,0 0 0 ,0 0 0
A c c r u e d an d d e fa u lte d interest on th e fo llo w in g b o n d s and
n o te s held b y th e p u b lic and in t. th e re o n (as o f O c t . 1 1910):
(a) 5 % b o n d s, $ 2 ,1 1 6 ,9 6 9 : (b) 4 % b o n d s. $ 2 ,0 9 4 ,8 0 1 ; (c)
C en t. C rosstow n n o te s, $ 92 ,636 ; (d) M e t. C rosstow n 1st M .
b o n d s , $ 78 ,845 ; t o t a l________________ ______________ ____________
4 ,383,251
G ra n d to ta l o f p u b lic h old in gs and special Ite m s ____________ $ 1 3 5,95 1,2 51
* N o te .— T h e m in im um o f th e bids w h ich th e C ou rt has a u th o rize d t o be
a c c e p te d at th e fo re clo su re sales a ggregates $ 1 2 ,0 0 0 ,0 0 0 .
It Is be liev ed
th a t n o t to e x c e e d th e a b o v e “ m a x im u m e stim a te " w ill u ltim a tely b e
requ ired t o b e p a id u n d er a p u rch ase fo r th e p u rp oses o f this pla n . O u t
o f this fu n d , th e o u ts ta n d in g re ce iv e rs’ certifica tes (su b sta n tia lly $ 6 ,5 0 0 ,
0 0 0 ), cla im s a d ju d g e d preferen tial, r e ce iv e rs ’ liab ilities, c o s ts. A c ., ord ered
to be p aid b y th e C ou rt, will h a v e to be m et, a n d , in a d d itio n , the expen ses
o f re o rg a n iz a tio n . T h e e stim a te d a m o u n t Is s u b je c t to b e re d u ce d as a
resu lt o f a d ju stm e n ts, a p p lic a tio n o f fu n d s h eld b y th e C ou rt, a ccru in g
surplus earnings an d o th e r Item s.
(II ) S ccu r. to R em ain U ndisturbed— Issu ed . bP led ged .& c. H eld by P u b .
B o n d s (S ch ed u le A ) ......... ........................$ 2 5 ,6 4 6 ,0 0 0 $ 3 ,7 0 0 ,0 0 0 $2 1 ,9 4 6 ,0 0 0
S to c k s (S ch ed u le B ) .............................. ..
1 5 ,300,000
5,7 9 2 ,0 0 0
9 ,5 0 8 ,0 0 0
T o t a l .............- ........... - ........................ $ 4 0 ,9 4 0 ,0 0 0 $ 9 ,4 9 2 ,0 0 0
$3 1 ,4 5 4 ,0 0 0
b T h e se securities d e scrib e d b e lo w are t o b e pledged* u n d er th e new
m o rtg a g e s, o r held as m u n im en ts o f title , o r c a n ce le d , or o th erw ise dis
p osed o f as th e J o in t C o m m itte e m a y d ire ct.
(Ill) Securities to be R eadju sted—
B o n d s (M et. S t. R y . gen . 5s, $ 1 2 ,5 0 0 ,0 0 0 , and r e f. 4s, $ 1 6 ,
604 ,000 ; M et. C rosstow n 1st 5s, $60 0 ,0 0 0 , an d C entral Cross
to w n co llateral n o te s — u n p a id balan ce— $ 1 ,9 3 5 ,0 0 0 )_______ $3 1 ,6 3 9 ,0 0 0
S to ck s (M et. S t. R y ., $ 5 2 ,0 0 0 ,0 0 0 : C en t. C rosst., $ 6 0 0 ,0 0 0 )..
5 2 ,6 0 0 ,0 0 0
S pecial item s (as a b o v e ) , v iz .: Im p ro v e m e n t n o te s, $4 ,0 0 0 ,0 0 0 ;
to rt-cla im a n ts , $ 1 ,8 7 5 ,0 0 0 ; Int. as a b o v e s ta te d , $ 4 ,3 8 3 ,2 5 1 .
10,258,251
A d d cash req u ire m e n ts, e s tim a te d ......................................... ..............
1 0 ,000,000
T o t a l ............................................................... ............................................. .$ 1 0 4 ,4 9 7 ,2 5 1
Description of New Securitics=Terms of Exchange.
1.
T h irty-yea r " fir s t real estate and refun din g m ortgage” 4% - gold
b o n d s, to be d a te d and bear Interest from su ch d a te as the
J o in t C o m m itte e m a y fix , t o b e r e d e e m a b le u p o n 90 d a y s ’
n o tice , at 105%, an d In t., on an d a fte r su ch d a te In th e y ear
1916 as m a y b e s ta te d In said b o n d s: w ith o u t lim ita tio n as to
a m o u n t o f a u th . Issue, b u t th e Issue o f fu rth e r b o n d s to
b e gu a rd e d b y m o r tg a g e pro visio n s an d th e a p p ro v a l o f th e
P u b lic S e rv ice C om m ission . P resent Issue____________________ $11,768 100
A ll issu able as p art co n sid e ra tio n fo r secu rities d is tu r b e d .;
■
T H E C H R O N IC L E
1768
3 . T h irty-yea r adjustm ent m ortgage 5 % incom e gold bonds (s u b je c t
to “ first real estate & r e fu n d in g m o r tg a g e ” ) , t o b e d a te d and
t o bea r in terest fro m su ch d a te as th e J o in t C o m m itte e m ay
fix , red eem a b le at a n y tim e , u p o n 90 d a y s ’ n o tice , at p a r an d
ln t .. In w h o le , b u t n o t In p a rt.
(See also “ n o t e " b e lo w .)
A u th o riz e d Issue (o f w h ich a p p ro x im a te ly $ 1 ,0 0 0 ,0 0 0 w ill
rem ain in th e treasu ry fo r fu tu re c o r p o r a te p u r p o s e s ), $ 4 0 ,
0 0 0 ,0 0 0 .
P resen t Issue ........................................................................... $ 3 8 ,9 3 3 ,4 0 0
Issu a b le as p a rt oon sld . fo r secu r. d i s t u r b e d - .$ 2 8 ,9 3 3 ,4 0 0
F o r ca sh t o c o n t r lb . share an d n o te h o ld e r s ___ 1 0 ,000,000
3. C apital stock, (or v o tin g trust or p a r ticip a tio n certifica tes
rep resen tin g s a m e ). P resent Issue t o b e . _______ ______________ 1 4 ,1 5 0 ,0 0 0
N o te .— T h e holders o f a d ju s tm e n t m o rtg a g e b o n d s shall h a v e th e p o w e r,
b y v o t e o f a m a jo r ity th ereof, t o e le ct o n e less th an a m a jo r it y o f th e m e m
b ers o f b o a r d o f d irectors until th e fu ll 5 % per a n n u m shall have been p aid
to th e h olders an n u ally fo r th ree s u cce ssiv e yea rs, an d a gain th e re a fte r,
d u rin g a like p eriod , w h en ever a failu re t o p a y su ch ann ual Interest shall
occur.
D uring such p e rio d s, also, th e h old ers o f said b o n d s shall h a ve
full p o w e r In resp ect o f all o th e r q u e stio n s u p o n w h ich s to ck h o ld e rs m a y
v o t e , t o cast on e v o t e fo r ea ch $100 o f th e p rin cip a l o f th e b o n d s h eld b y him .
T erm s o f E xch a n ge.
Old Bonds, A c ..
Amount
--------------------- To be Exchanged forAdjustment Bonds.
New 4s
Disturbed.
Outstanding.
100% or S12,500,000
50%
/ $4,133,031
Gen mortgage 5s__ $12,500,000
(See “ x ” )\ 2,116,969
do Int.to O ct.’ 10 2,116,969
75% or 12,453,000
2,056,199
25%
f
Refunding 4s............ 16,604,000
(See ''x )" \ 2,094,800
do In t.to O ct.’ 10 2,094,800
1,595,400
339,600 8 2 .4 % + or
1 7 .5 % + or
Cent. Crosst. notes. 1,935,000
510,000
90,000
85% or
15'% or
Met. Crosst. 1st 5s.
600,000
1,875,000
937,500
100%
or
50%
or
Tort claimants____ 1,875,000
___________________ 100%10
or , 0 0 0,000
For new cash(sec b e lo w ) ......... Total ......................................................................$11,768,100
$38,933,400
Amount
To Pay
------------------- And Receive-----------Old Stock, A c .—
Outstanding. Assessment. Adjust. Bds.
New Stock.
About
1
(25% or $13,000,000
Met. Street U y ..................$52,000,0001
Improvement notes_____ 4,000,000 [$10,000,000 i$10,000,000l 2 5 ’-!> or
1,000,000
Central Crosstown______
600.000J or 17.67% j
125% or
150,000
Note.— The amount of the assessment cannot he definitely stated at present. I f
It is necessary to provide for more than $4,000,000 improvement notes, the Joint
Committee may adjust same on a basis not more favorable than here granted.
x T h e a m ou n ts o f new 4 % b o n d s t o b e g iv e n o n a c c o u n t o f b o th p rin cip a l
an d o v e r d u e in terest, if taken to g e th e r fo r each issue o f o ld M et. S t. R y .
b o n d s, are equ a l in th e case o f th e gen . 5s t o an a llo w a n ce o f 5 0 % o n th e
p rin cip a l o f th a t Issue an d In th e case o f th e r e f. 4s t o an a llo w a n ce o f 2.>_o
o n th e p rin cip a l o f th e re f. issu e. T h e gen . 5 % b o n d s also re ce iv e 10 0 % jln
a d ju s tm e n t b o n d s an d the r e f. 4s 7 5 % in th e sam e Issue, m a k in g th e to ta l
a m o u n t g iv en in ex c h a n g e (a) fo r th e g e n . 5s, 1 5 0 % , an d (b) fo r th e r e f. 4s,
p ar in th e t w o classes o f n ew b o n d s . Cen tral C rosstow n n otes ge t 1 0 0 % in
n ew 4s and adjustment bonds combined.
_ . , ....
S h o u ld th e new secu rities be d a te d a t a d a te later th an O ct. 1 1910 a
su ffic ie n t a m o u n t o f new 4 % b o n d s w ill be a d d e d to th e a m o u n t o f th e sam e
a llo tte d fo r Interest a ccru e d a n d d e d u cte d fro m th e a m o u n t a llo tte d to
p rin cip a l t o equ a l th e a ccru e d interest o n said o ld b o n d s an d th e co u p o n s
p erta in in g th ereto a t th e d a te o f su ch new secu rities.
T h e J o in t C o m m ittee m a y re ce iv e c o n v e y a n ce s t o it o f th e p r o p e r ty o f
th e C entral C rosstow n R R . C o ., in clu d in g its lease o f th e C h ristoph er &
T e n th S t. H R . C o ., free an d clea r o f all in cu m b ra n ce o n said Cen tral Cross
to w n R R . C o. e x c e p tin g th e e x te n d e d 1st M . b o n d s o f th e C entral C rosstow n
R R . C o ., t o an a ggrega te p rin cipa l a m o u n t n o t to e x ce e d $25 0 ,0 0 0 , and
ca u se t o be issued in retu rn th e re fo r the securities a b o v e d e s c r ib e d .
If the
c o m m itte e shall n ot rece iv e such c o n v e y a n c e , o r if th e te n d e r b y this plan
au th oriz ed shall n ot be a c c e p te d b y th e h olders o f th e b o n d s o f th e M etro
p o lita n C rosstow n R R . C o. or b y th e to r t cla im a n ts, th e J o in t C o m m itte e
shall h a v e a u th o r ity to c o n s u m m a te this plan in all o th e r resp ects as s h o w n .
T h is p lan w ill b e c o m e e ffe c tiv e a n d b in d in g u p o n th e h o ld e rs o f c e rtifi
ca tes fo r b on d s h eld (1) b y the 5 % c o m m itte e a n d (2) b y th e 4 % c o m m it t e c ,
if u p o n pu b lish ed n o tice o f a p p ro v a l o f th e p lan b y th e said co m m itte e s ,
sev e r a lly , holders o f their r e s p e c tiv e o u ts ta n d in g certifica tes o f d e p o s it
rep resen tin g o n e -th ird in fa ce a m o u n t o f th e d e p o s ite d b o n d s shall n o t
w ith in 30 d a y s file n otice s o f dissen t.
C o m p a r i s o n B e t w e e n P r e s e n t a n d P r o p o s e d C a p it a l i z a t io n .
1. S e c u r ., & c., t o be tre a te d and r e a d ju s te d — see “ I I I ” a b o v c .$ 1 0 4 ,4 9 7 ,2 5 1
N ew secu rities, s to c k an d b o n d s, p r o v id e d In lieu t h e r e o f . .
6 4 ,8 5 1 ,5 0 0
2.
R e d u c tio n o n basts o f secu rities, & c ., t r e a t e d .......... ......... $3 9 ,6 4 5 ,7 5 1
T o ta l o u ts ta n d in g s t o c k an d b o n d s, less secu rities to be
oJi’ S i S ’ i i i
a cq u ire d at fo r e c lo s u r e ---------------------------------------------------- —
S n ecial Item s, as a b o v e (A rticle I ) ------------------------------------------„ 0 ,2 o 8 ,2 o l
T ota l
......................._ .................................................... .....................$135,95 1,2 51
U n d istu rb ed new secu rities, a g g r e g a te ....................................... —
9 6 ,3 0 5 ,5 0 0
R e d u c tio n o n basis o f en tire o u ts ta n d in g c a p it a liz a t io n .. $ 3 9 ,645 ,75 1
Schedule A— Total Funded Obligations, $57,285,000.
(These obligations are precisely those shown in table on p. 79 of the “ El. R y . See. ”
cxcent that (a) the plan takes no account of the SoOO.OOO Fulton St. RIt. 1st M.
4s' (b )th c Central Crosstown notes are now S I,935,000 instead of $2,250,000, and
(c) the Met. St. R y. Improvement notes, taken in the plan as amounting to $4,000,
000, are Included with the "special Items.” — Ed.]
(o) Outstanding Obligations that Remain Undisturbed, Total $21,946,000a;.
Lex Av & P. F. IstM . 5s,’9 3 .$5,000,000 |23d St. 1st M. 6s, due 1 9 0 9 ... z$50,000
Coi. & 9 th Av. 1st M. 5s, ’ 9 3 . . 3,000.000 I Bleecker St. & F. F. M. 4s. ’ 50
700,000
So. Ferry R R . 1st M. 5s, ’ 1 9 ..
350,000 42dSt.& G.St.F.lStM .6s,due’09 X36.000
Broadway Surf. 1st M. 5 s ,’ 26. 1,500,000 8th A v. 6% scrip, 1914............
750,000
34th St. Crosst. 1st M. 5s, ’ 9 1 . 1,000.000 Chris. & 10th St. 4s, 1918-----210,000
Broadway & 7th Av. 2d 5s. ’ 14
500,000 Cent. Crosst. 1st M. 6s, 1922.
250,000
do do 1st consol. 5s, 1943 7,650,000 [ Real estate mortgage................
950,000
(b) Bonds and Notes to be Readjusted, Aggregating $31,639,000.
Met. Crosst. 1st M. 5 s ...........
$600,000 I Met. St. Ry. gen. 5s.................$12,500,000
Cent. Crosst. R R . 5s. d u e ’0 9 . 1,935,0001 do do ref. M. 4 s.............. 16,604,000
(c) Pledged Bonds, $3,700,000, to be Acquired under Foreclosure Sale.
[All held under the present refunding mortgage.]
200,000
Met. Crosst. 5s, due 1901------ $300,000 42d St. & G .S t.F .lst 6s,due ’09
200,000
Bw y. Surf. 2d M. 5s, due 1905. 1,000,000 23d St. R y. 1st M. 6s, due 1909
150.000
do do deben 5s, due 1906
350,000
Real estate m ortgages----------B w y.& 7th A v .ls t M.5s,due ’ 04 1,500,000
Schedule B— Total Stocks Issued, $67,900,000.
(aa) Outstanding Stocks to Remain Undisturbed, S9,503,000y.
Broadway & 7th Av. R R ------ //$700,000 42d St. & Gr. St. Fy. R R . . . y.$348,000
6th Ave. R R ............................... 2,000,000 8th Ave. R R ............................... 1,000,000
9th Ave. R R . . ...........................
800,000 N .Y .& Harlem R R . (city line) z2,500,000
650,000
23d St. R y ________
600,000 Christopher & 10th St. R R 2/10,000
Bleecker St. & Fuit. F y. R R .
900,000 34th St. Crosstown___________
(bb) Slocks to be Readjusted, Aggregating $52,600,000.
Metropolitan Street R y ......... $52,000,000 |Central Crosstown R R ............
$600,000
(cc) Additional $5,792,000 Stock to be Acquired under Foreclosure Sale.
Pledged under Gen. M tge.—
Pledged under R ef. M tge.—
Broadway & 7th Ave. R R ____$1,400,000 Fort George & 11th A ve R R --$3,000 ,000
42d St. & Grand St. Ferry R R .
400,000 115th Street R y .........................
2,000
34th St. Crosstown R y ..............
990,000
x N ote additional amount under " c ." y N ote additional amount under "c c .’
z Proportion o f entire capital stock allotted (for purposes of this plan) to said city
line.— V. 91, p. 1711, 1574.
Missouri Kansas & Texas Ry. Co .—
— T h e M . K . & T . R y . C o. of
t o a p p ly to th e L e g is la tu r e o f
f o r a s p e c i a l la w a u t h o r i z i n g
C le b u r n e & S o u t h w e s t e r n R y . ,
T o C o m p lete P u r c h a s e .
T e x a s a n n o u n c e s its in t e n t io n
T e x a s c o n v e n i n g J a n . 11 1 9 1 1
it (1 ) t o p u r c h a s e th e D a lla s
C le b u r n e t o E g a n , 1 0 m il e s .
A ls o to p erm it ex ten sio n o f sam e as p ro v id e d In ch a rte r o f D . C. & S . W .
R y . C o. w ith in an a d d itio n a l p eriod o f tw o years o r oth e rw ise . L ik ew ise
t o assu m e th e b on d s a n d o th e r In debtedn ess o f said c o m p a n y ; to p u rch a se
th e s to c k an d t o ex ch a n g e its o w n s to ck s a n d b o n d s fo r th e s to c k s a n d .b o n d s
[V O L .
LXXXXI.
o f said c o m p a n y , o r to su b s titu te Its o w n b o n d s, s u b je c t to the a p p r o v a l of
th e R R . C om m ission o f T e x a s , in lieu th e re o f.
(C om p are V . 91, p. 799 .) —
V . 91, p . 1160, 1254.
M ontreal T ram w ay s & Pow er C o ., L t d .— S t o c k . — T h e
a u t h . c a p i t a l s t o c k o f t h is E n g l i s h h o l d i n g c o m p a n y is
£ 4 ,1 1 0 ,0 0 0 , c o n s is t in g o f 2 0 0 ,0 2 0 s h a re s o f £ 2 0 1 0s. l i d .
a n d on e o f £ 4 2 2 8 s. 4 d .
C om p a re V . 9 1, p . 1711.
N evada County N arrow -G auge R R . — B o n d s C a l l e d . — N i n e
1 st M . 7 % b o n d s ($ 9 ,0 0 0 ) n u m b e r e d 5 4 , 5 7 , 8 7 , 1 0 3 , 1 1 0 ,
168, 169, 200 a n d 2 23 , h a v e b e e n d ra w n fo r p a y m e n t on
J a n . 1 .— V . 9 1 , p . 1 2 5 4 .
N ew Orleans R ailw ay & L ig h t C o .— B o n d s O f fe r e d — E a r n
i n g s .— B e r t r o n ,
G r is c o m & J e n k s , N . Y . a n d P h ila ., a re
o f f e r i n g ,a t 8 3 a n d i n t .,t h e u n s o ld p o r t io n o f a b lo c k o f $ 5 0 0 ,
0 00 g en era l m o r tg a g e 4 j ^ % g o ld b o n d s , d a te d J u ly 1 1905
a n d d u e J u l y l 1 9 3 5 , b u t r e d e e m a b l e , in w h o l e o r in p a r t ,
a fte r 60 d a y s ’ n o t ic e , o n a n y c o u p o n d a te at 105 a n d in te re s t.
D u r i n g 1 9 0 9 t h e fir m p u r c h a s e d a b o u t $ 5 , 5 0 0 ,0 0 0 o f t h i s
is s u e , o f w h i c h t h e a m o u n t h e r e in o f f e r e d is t h e u n s o l d
b a la n c e .
T h e y a l s o s o ld t o F r e n c h b a n k e r s e a r l y in 1 9 1 0
o r l a t e in 1 9 0 9 $ 2 , 5 8 1 ,0 0 0 “ r e f u n d i n g a n d g e n e r a l l i e n ” 5 %
g o l d b o n d s , w h i c h f o l l o w i n li e n t h e s e g e n e r a l m o r t g a g e 4 J ^ s .
A d i v i d e n d o f 2 Y q f/o w a s r e c e n t l y d e c l a r e d o n t h e p r e f .
s t o c k , p a y a b le J a n . 16 t o h o ld e r s o f r e c o r d D e c . 3 1 .
Condensed Extracts from Letter of President
Orleans, Jan. 25 1910.
H ugh
McCloskcy, New
(R evised as to E a rn in g s, A c . , to D ecem ber, 1910.)
O perates and c o n tr o ls th e entire street ra ilw a y system o f th e c it y o f
N ew O rleans, w ith a p p ro x im a te ly 200 m iles o f tra ck ; also c o n tr o ls th e en tire
gas, ele ctric ligh t an d pow er business o f N ew O rleans, e x c e p t fo r o n e sm all
e lectric p la n t. S in ce J u ly 1905 has sp en t o n c o n s tr u c tio n an d im p ro v e
m ents a b o u t $ 5 ,0 0 0 ,0 0 0 , o f w h ich a b o u t $ 1 ,0 0 0 ,0 0 0 fro m n et earnings.
C apitalization.
P ro f, s t o c k , 5 % n o n -cu m u ta tiv e , a u th o rize d an d o u t s t a n d in g ..$ 1 0 ,0 0 0 ,0 0 0
C o m m o n s to c k , a u th orized an d o u t s ta n d in g --------------------------------- 2 0 ,0 0 0 ,0 0 0
G eneral m o rtg a g e 4 ) 4 % gold b o n d s, au th o riz e d , $30 ,0 0 0 ,0 0 0 ;
o u ts ta n d in g (closed m o r tg a g e )_________________________________ 17,5 4 4 ,0 0 0
H e ld in reserve to retire u n d e rlyin g b o n d s o f c o n s tlt. p r o p e r tie s . 12,4 5 6 ,0 0 0
T h e a b o v e b o n d s are fo llo w e d b y an a u th o rize d Issue o f $ 5 0 ,0 0 0 ,0 0 0 " r e
fu n d in g and general lien” 5 % g o ld b o n d s, o f w h ich $3 0 ,0 0 0 ,0 0 0 are reserved
to retire th e general m tg e . 4 ) 3 % g o ld b o n d s: o f the rem a in d er, $ 2 ,5 8 1 ,0 0 0
h a ve been Issued fo r exten sion s and im p ro v e m e n ts , le a vin g a b a la n ce o f
$1 7 ,4 1 9 ,0 0 0 in reserve in the treasury to be Issued u n d er carefu l re striction s
fo r fu tu re a d d itio n s , exten sion s, im p ro v e m e n ts , &c.
E a rn in g s f o r 11 M on th s ending N o v . 30 1910 and 1909.
11 m os.end.
G ross
N et (after I n t .o n U nder- h i t . on G en . B a la n ce,
N o v . 30.
E a rn in g s.
T a x es ),
ly in g IA ens.
M . 4 )3 s .
S u rp lu s.
1910
.
$ 5 ,7 0 6 ,4 2 3 $ 2 ,1 5 1 ,7 0 0
$573,443
$ 7 2 3,69 0
$854,567
1909
5 ,5 0 7 ,2 2 5
2,0 0 7 ,6 6 3
578,382
669 ,714
759 ,567
A s a result o f recen t exp e n d itu re s and the e x te n sio n s an d im p ro v e m e n ts
co n te m p la te d fo r 1910, for w h ich there is av a ila b le a b o u t $ 1 ,0 0 0 ,0 0 0 fro m
th e p ro ce e d s o f the recent sale o f " r e fu n d in g an d general lie n ” 5 % g o ld
b o n d s, the earnings fo r 1910 sh ou ld sh ow large Increases e v e n o v e r 1909.
T h e tr a c tio n system Is m o d e rn , e fficie n t and up to d a te . T h e p h y s ic a l
c o n d itio n o f b o th th e gas an d e lectric p r o p e r ty is e x c e lle n t. T h e c o m p a n y
ow n s three m od ern p o w e r houses an d o n e sm all rese rv e s ta tio n w ith a
c a p a c it y o f o v e r 40,000 h .p . T h e gas plants h a v e a c a p a c it y o f 4 ,0 0 0 ,0 0 0
c u . ft. an d th e d istrib u tio n system is s u fficie n t to ca re fo r presen t needs.
In a d d itio n to th e 200 m iles o f e lectric railw ay tra ck a g e o w n e d an d
o p e r a te d b y th e c o m p a n y an d Its subsidiaries, there are o v e r 300 m iles o f
gas m ains, e x te n s iv e e lectric ligh tin g e q u ip m e n t an d la r g e car barn s, car
h ou ses, sh ops an d s torage barns lo ca te d on v a lu a b le real e sta te situ a ted In
su ita b le s ection s o f th e c it y . T h e b o n d s herein o ffe re d arc, th ro u g h d e
p o s it u nd er th e m o rtg a ge o f a lm o st all the s to c k o f th e N ew O rleans Gas
L ig h t C o ., p r a ctica lly a first m o rtg a g e lien on all th e p r o p e r ty o f th a t c o m
p a n y , w h ich c o n tr o ls the entire gas business o f th e c it y o f N ew O rleans.
[AH th e b o n d s o f th e Gas L ig h t C o. h a ve been r e tir e d .— E d .]
T h e fra n ch ises u n d er w h ich the c o m p a n ie s o p e r a te are eith er p erp etu a l
or e x te n d fo r a lo n g p eriod o f years, w ith th e e x c e p tio n o f tw o u n im p o rta n t
on e s, w h ich ex p ire 1917 and 1918. T h e fra n ch ise o f th e Gas L igh t C o. is
n o t o n ly p erpetu al b u t it is also e x c lu s iv e until 1925, an d its e x c lu s iv e
featu re has been affirm ed b y th e U n ited S tates S u p rem e C o u rt. A ll o f
th e fra n ch ises are free fro m bu rd e n so m e re s tric tio n s .— V . 91, p . 1328.
Norfolk Southern R R . — P r o p o s e d N e w M o r t g a g e . — T h e
s t o c k h o l d e r s tvill v o t e o n J a n . 3 0 1 9 1 1 o n a u t h o r i z i n g a n e w
m o r t g a g e t o s e c u r e a n is s u e o f $ 3 5 , 0 0 0 ,0 0 0 1 st M . b o n d s ,
in o r d e r t o p r o v i d e in a b r o a d e r w a y f o r t h e f u t u r e r e q u i r e
m e n t s o f t h e c o m p a n y t h a n t h e p r e s e n t “ fir s t a n d r e f u n d i n g ”
m o r t g a g e , l i m i t e d t o $ 1 2 , 0 0 0 ,0 0 0 in a c c o r d a n c e w i t h t h e r e
o r g a n iz a t io n p la n .
N o a r r a n g e m e n t h a s b e e n m a d e t o s e ll
a n y o f th e n e w b o n d s , n o r h a v e t h e d e ta ils y e t b e e n fix e d .
N on e o f the b o n d s o f the $ 12, 000,000 issue has been s o ld , b u t $ 9 ,0 0 0 ,0 0 0
h a v e been Issued, $ 5 ,7 8 0 ,0 0 0 be in g d e p o s ite d as colla tera l fo r th e $ 4 ,3 6 0 ,0 0 0
o n e -y e a r n otes so ld in O cto b e r last a n d $ 3, 220,000 arc re served t o retire a
lik e a m o u n t o f u n d erlyin g b o n d s.
W h e n th e b o n d s o f th e new issue are
su b s titu te d fo r th ose o f the present Issue th ere w ill be left In th e trea su ry
o f th e c o m p a n y $ 26 ,000 ,00 0 o f th e new b o n d s fo r fu tu re p u rp o se s.
I he
$ 5 ,7 8 0 ,0 0 0 b o n d s, w hen th e y are sold to retire th e o n e -y e a r n o te s, w ill also
fu rn ish th e c o m p a n y w ith $ 1 , 000,000 a d d it io n a l, w m 'ld ^ g
..
re ce n t sale o f n o te s left the c o m p a n y , It Is said , w ith a b o u t $30 0,00 0 new
c a p ita l, a fte r p a y in g o ff m a tu rin g o b lig a tio n s an d llo a tin g d e b t .
V . 91,
p . 1254, 1026.
N orthern Central R y . — F a v o r a b l e D e c i s i o n . — A p r e s s d i s
p a t c h s t a t e s t h a t t h e U . S . C ir c u i t C o u r t in t h e s u i t b r o u g h t
b y th e S a fe D e p o s it & T r u s t C o . o f B a lt im o r e h e ld t h a t th e
p r o p o s e d le a s e t o t h e P e n n s y l v a n i a R R . is n o t s u b j e c t t o
t h e G r o u n d R e n t R e d e m p t i o n l a w o f M a r y l a n d a n d is t h e r e
fo r e n o t re d e e m a b le .
.
. .
T h e C ou rt w as asked t o restrain th e e x e c u tio n o f th e p ro p o s e d lease.
T h e lease. It is s ta te d , Is n o t to b e c o m e e ffe c tiv e until M arch 1 unless m ean
tim e an a u th o rita tiv e d e cisio n is o b ta in e d h o ld in g th a t th e lease Is n o t re
d e e m a b le u nd er th e S tate law s. C o m p a re V . 91, p . l^ o 4 . V . 91, p . 1630.
N orthw estern E levated R R ., C h icago.— M e r g e r N e g o t i a
t i o n s .— T h e n e g o t ia t io n s f o r t h e m e r g e r o f th e e l e v a t e d r o a d s
o f th e c i t y , C h ic a g o p a p e r s s a y , a re lik e ly t o b e r e s u m e d
s h o r t ly , p o s s ib ly w ith in a f o r t n ig h t .— V . 9 1 , p . 8 6 6 , 7 9 1 .
Old Colony Street R y . — N e w S t o c k . — T h e M a s s . R R . C o m
m is s io n h a s b e e n a s k e d t o s a n c t i o n a n i s s u e o f $ 3 0 0 ,0 0 0
a d d it io n a l c o m m o n s t o c k o n a c c o u n t o f e x t e n s io n s , e q u ip
m e n t , & c .— V . 9 1 , p . 1 6 3 0 .
O regon -W ash in gton Railroad & N av ig a tion Co.
P rop er
t ie s T a k e n O v e r . — T h e s t o c k h o l d e r s o f t h e v a r i o u s c o m p a n i e s
i n c l u d e d in t h e m e r g e r o n D e c . 2 2 r a t if i e d t h e s a m e a n d t h e
p r o p e r t ie s w e re ta k e n o v e r D e c . 2 4 .
T h e c o n s id e r a t io n
n a m e d in t h e d e e d s t o t h e n e w c o m p a n y , a g g r e g a t i n g $ 1 1 5 ,
4 1 5 ,0 0 0 , w e r e as fo llo w s :
O r e g o n R R . & N a v . C o . . $ 7 8 ,3 8 0 ,0 0 0 (I n c l u d i n g t h e $ 2 3 3 8 0 ,0 0 0 o u t
s t a n d i n g b o n d s , w h ic h h a v e b e e n a s s u m e d ) ; O r e g o n A W a s h i n g t o n R R . .
$ 1 5 ,0 0 0 ,0 0 0 ; J .:C o lu m b la l R I v e r l & I O r e g o n ;C e n t r a l | R R .il $ 9 3 0 ,0 0 0 :l i C o l u m b la
D e c . 3 1 1 9 1 0 .]
T H E C H R O N IC LE
S ou th ern R y ., $ 1 ,0 7 5 ,0 0 0 ; I lw a c o R R „ $ 1 ,0 0 0 ,0 0 0 ; L a k e C reek & C oeu r
d ’A le n e R R „ $ 79 0,00 0; O regon W a s h in g to n & I d a h o H R ., § 3 .4 0 0 ,0 0 0 ;
S n a ke R iv e r V a lle y R R ., $ 2 ,2 6 5 ,0 0 0 ; U m a tilla C en tral R R „ $31 5 ,0 0 0 ;
I d a h o N orth ern R R ,, $ 1 ,4 0 0 ,0 0 0 ; N o rth C oa st R R ., $ 7 ,5 5 0 ,0 0 0 ; N o rth
w estern R R ., $ 2 ,6 4 0 ,0 0 0 , a n d M alheur V a lle y R y ., $ 5 5 0 ,0 0 0 .— V . 91, p .
1630, 1512.
Pacific L igh t & Pow er Corporation, L o s A n g e le s .— B o n d s
S o l d .— N . W . H a ls e y & C o ., N . Y . , P h i l a . , C h ic , a n d S a n F r . ,
r e c e n t ly o ffe re d a t p a r a n d i n t . , a n d h a v e w h o lly s o ld , th e
e n t i r e p r e s e n t is s u e o f $ 2 , 0 0 0 ,0 0 0 c o l l a t e r a l t r u s t 6 % 5 - y e a r
g o ld b o n d s , d a te d J u ly 1 1910 a n d d u e J u ly 1 1915, b u t re
d e e m a b le a t 1 0 2 o n a n y in t . d a t e .
In t. J. & J.
Par
S I ,0 0 0 c * .
T a x - e x e m p t in C a l i f o r n i a .
T r u s t C o . o f A m e r ic a ,
N ew Y o r k , tru ste e .
T o t a l a u t h . is s u e $ 3 ,0 0 0 ,0 0 0 .
T h ese b on d s a rc c o n v e r t ib le o n a n y Interest d a te p rio r to m a tu rity ,
th ro u g h N . W . H a lsey & C o ., fo r 1st M . b o n d s o f th e S o u th . C aliforn ia Gas
C o ., w h ich see u nd er “ In d u stria ls” b e lo w . T h e b o n d h o ld e r m a y e le ct to
ta k e eith er a 6 % 40 -y ea r b o n d at p ar o r a 5 % 4 0 -ye a r b o n d a t 90.
A b s tr a c t o f L e tte r fro m
P r e s . Y V m .G . K e r c k h o f f L o s A n g e l e s , O c t . 2 0 ’ 1 0
O rganization.— T h e P a cific L ig h t & P o w e r C o rp o ra tio n w as organ ized
F e b . 10 1910 an d a cq u ire d th e en tire pro p e rtie s o f the P a cillc L ig h t & P ow er
C o ., w h ich Is en gag ed In th e business o f s u p p ly in g e le ctr ic ity fo r ligh t,
p ow er an d street ra ilw a y o p e ra tio n In L os A n geles, C al., and v ic in ity ; also
[th e c o n tr o l of) the S ou th ern C aliforn ia G as C o ., w h ich supplies gas
fo r lig h t, h eat a n d fu el pu rposes In the sam e lo ca lity .
C a pitaliza tion .
First pref. s to c k , 6 % c u m ., a u th o r iz e d — $ 5 ,0 0 0 ,0 0 0 ; Issued, $ 2 ,0 4 2 ,5 0 0
S e con d p referred s to c k , a u t h o r i z e d - , ------.,1 0 ,0 0 0 ,0 0 0 ; Issued, 10,000,000
C om m on s to c k J 5 % [-------- --------------- ------------ 2 5 ,0 0 0 ,0 0 0 ; Issued, 12,042,500
P rior liens (closed m tg e .— see p . 66 o f “ E l. R y . S e c tio n ” ) , Issu e d . 9 ,3 1 8 ,0 0 0
P a c. L t. & P o w . C orp . c o ll, trust 6s, auth
$ 3 ,0 0 0 ,0 0 0 ; issued, 2 ,0 0 0 ,0 0 0
T h is Issue o f b on d s w ill retire th e present b o n d e d and flo a tin g d e b t o f the
S ou th ern C aliforn ia Gas C o. an d w ill p r o v id e fu n d s fo r e x te n s iv e Im p ro v e
m e n ts . T h e P a cific L ig h t & P o w e r C o rp o ra tio n has p r o v id e d fo r a large
Increase In th e c a p a c it y o f Its o w n ele ctrica l plan t an d d istrib u tin g system
b y oU ering $ 3 ,0 0 0 ,0 0 0 p re f. s to c k to its s to ck h o ld e rs.
T h e a m o u n t at
present requ ired for these im p ro v e m e n ts Is $ 2 ,0 0 0 ,0 0 0 , an d sales o f this
a m o u n t h a ve been u n d e rw ritte n . T h e Im p rovem en ts and exten sion s re
ferred to a b o v e will m aterially increase th e earnings o f b o th c o m p a n ie s.
In case this c o m p a n y places a new m o rtg a g e o n Its p r o p e r ty th e co lla te ra l
6s w ill share r a ta b ly in th e s e cu rity o f such new m o rtg a g e .
A s a d d itio n a l
s e c u r ity , $ 4 ,0 0 0 ,0 0 0 S ou th ern C a liforn ia G as C o. 1st M . b o n d s (th e en tire
present Issue) w ill be d e p o s ite d w ith th e tru stee (see th a t c o . u nd er “ I n
du stria ls” b e lo w ).
T h e co lla te ra l trust 6s are c o n v e r tib le o n a n y Interest
d a te p rior to m a tu rity fo r the 1st M . b o n d s o f the S o u th e rn C a liforn ia Gas
C o. T h e b o n d h o ld e r m a y e lect to tak e eith er a 6 % 4 0 -ye a r b o n d at par
o r a 5 % 4 0 -y ca r b o n d a t 90.
P rop erty o f P a c ijic Light & P ow er C orporation .— T h e c o m p a n y ow ns an
e x te n s iv e system o f g en eratin g pla n ts, w ith a present g e n eratin g c a p a c ity
o f 13,000 h. p . O f this a m o u n t a b o u t 19,000 h .p . Is gen erated b y w ater,
th e p rin cipa l h y d ra u lic p la n t (1 3,500 h .p .) b ein g lo ca te d at Ilorel o n the
K ern R iv e r , an d th e prin cipa l steam pla n t (20,000 h .p .) a t R e d o n d o . T h e
c o m p a n y Is at present e re ctin g a new steam pla n t a t R e d o n d o w h ich w hen
co m p le te d w ill Increase the present g en eratin g c a p a c ity o f th e c o m p a n y to
a b o u t 75,000 h .p . T h e c o m p a n y has 423 m iles o f h igh -te n sio n transm ission
line n ow in o p era tion and 22 a d d itio n a l m iles In co u rse o f c o n s tru ctio n
It
also has an u n d ergrou n d d istrib u tin g system In th e c o n d u it area o f L os
A n geles an d ov erh ea d lines In th e system o u ts id e o f this d is trict.
O w ner
ship Is also held In w h ole o r b y a co n tr o llin g Interest o f a n u m b er o f u n d e
v e lo p e d b u t Im p orta n t w ater po w e r system s w h ich can be bro u g h t to a p ro
d u c in g c o n d itio n as the m arket d e m a n d s.
T h e righ ts and franchises
o p era ted are cith er w ith o u t lim ita tio n In p o in t o f tim e, as in the cities, or
else e x te n d from 22 to 45 years b e y o n d th e life o f th e b o n d s. M an y m iles
o f right o f w a y o f transm ission lines a rc o w n e d o u trig h t.
T h e c o r p o r a tio n Is en gag ed in a general lig h tin g and p o w e r business In
Los A n geles a n d v ic in ity , w ith special a tte n tio n to p u llin g the lo a d s o f the
Los A n geles R y . C o ., th e L os A n geles & R e d o n d o R y . C o ., th e P a cillc
E lectric R y . C o. and th e L os A n geles In teru rban R y . C o ., w h ich o w n an d
op e ra te 744 m iles o u t o f a to ta l o f 822 m iles o f ele ctric r o a d In L os A n geles
an d v ic in ity , c o m p ris in g o n e o f the best u rban and Interurban electric
ra ilw a y system s In th e w o rld .
[See also L o s A n geles R a ilw a y C o rp o ra tio n
a b o v e .— E d .].
It also sells cu rre n t, eith er th ro u gh Its o w n distrib u tin g
system s o r th rou gh w h olesale deliveries to o th e r c o r p o r a tio n s , in H o lly
w o o d U n iv ersity , D o lg e v lllc, B u arte, P a sa d en a , S o u th P a sa den a, A lh a m
b ra , C ov in a , M on rov ia , H u n tin g to n P a rk , G lendale an d A zu sa , L os A n geles
C o u n ty , S an B ern a rd in o, O n ta rio and H igh G ro v e , San B ern a rd in o C o u n ty ,
R iv ersid e an d C oron a , R iversid e C o u n ty ; an d In th e c o u n tr y a d ja c e n t to
these tow n s. A con s id e ra b le a m o u n t o f p o w e r Is sold fo r p u m p in g w ater
for Irrigation an d th e d e m a n d fo r cu rren t fo r this p u rp o se is r a p id ly in
creasin g. 'rite m ark et is n o t d e p e n d e n t u p o n a n y on e line b u t Is extre m e ly
v a ried . O n a large p art o f Its business th e c o r p o r a tio n Is p r o te c te d fro m
p ossib le co m p e titio n b y reason o f Its lo n g -te rm c o n tr a c ts fo r the sale o f
cu rren t to 744 m iles o f affilia ted railw ays.
It Is estim a ted th a t the to ta l p o p u la tio n se rve d Is a b o u t 4 0 0 ,0 0 0 . T h e
p o p u la tio n o f L os A n geles In 1900 w as 102,000; In 1910 it w as 31 9 ,0 0 0 , an
Increase o f o v e r 2 1 0 % . T h e c it y has 42 ban ks w ith a co m b in e d ca p ita l am i
surplus a m o u n tin g to $20 ,0 0 0 ,0 0 0 and w ith d e p o sits o f $ 1 1 0 ,0 0 0 ,0 0 0 .
P rop erty o j Southern C a liforn ia G as C o .— T h is c o m p a n y ow n s In fee a
m od ern gas p la n t, c a p a c it y 4 ,0 0 0 ,0 0 0 c u . ft. per d a y .
E x ce llen t railroad
facilities.
M ain b u ildin gs o f c o n c r e te and steel, e n tire ly fir e -p r o o f. A p p a
ratus o f the best t y p e an d In d u p lic a te . A b o u t 105 m iles o f m ain s— 9,658
s ervices and 10,000 m etres In use In L os A n geles an d v ic in ity .
T n c proceed s o f th e new bon d Issue will be used n o t o n ly to e x te n d the
low -pressu re d istrib u tion m ains In the c it y o f L os A n geles, b u t will also
e x te n d the s erv ice to o u tly in g districts w ith the vie w o f u ltim a te ly su p p ly in g
all th e gas requ ired w ith in a radiu s o f 90 m iles o f L o s A n geles. T h e m ost
Im p orta n t o f th e p rop ose d exte n sio n s Is th e .San B ern a rd in o high-pressure
line, w h ich , w hen c o m p le te d , w ill be a b o u t 72 m iles lon g an d w ill pass through
a rich amd fertile agricu ltu ral se ctio n u nd er tile highest sta te o f c u ltiv a tio n .
There are 15 sm all tow n s an d cities lo ca te d a lo n g th e p ro p o s e d ro u te , w ith a
class o f Inh ab itan ts w h o d e m a n d all the a d v a n ta g e s o f m o d e rn liv in g .
The p o p u la tio n to be su p p lie d alo n g this line at th e present tim e Is o v e r
8 5 ,0 0 0 and Is grow in g at an unusual rate.
learnings Year ending D ec. S I .— P a c ific Light & P ow er Co.
[N ot in clu d in g the earnings o f the S ou th ern C a liforn ia Gas C o ., w h ich as
an Indepen den t an d co m p a r a tiv e ly new c o m p a n y has earned du rin g the
llrst six m on th s o f 1910 m ore than su fficien t to p a y th e in terest fo r a like
p eriod o n this en tire b o n d Issue. T h e exte n sio n s p r o v id e d b y these b o n d s
w ill o f cou rse g reatly Increase the e a rn in g s.1
1906.
1907.
1908.
1909.
G r o s s ln c o m c ____ _________ $ 1,332,533
$ 1 ,2 8 1 ,0 5 5
$ 1 ,7 9 6 ,8 9 9
$ 1 ,9 2 3 ,5 1 0
N et in c o m e (a fter taxes) . $69 9,09 3
$749,239
$8 3 9 ,3 0 7
$848,937
In terest o n fu n d ed d e b t _____________ ________________ ______ ___
402 662
In terest on $ 2 ,0 0 0 ,0 0 0 6 % b o n d s, 1915 (th is I s s u e )____ _____
12o|ouo
Surplus,^ a v a ila b le fo r sin kin g fu n d s, d iv id e n d s , & c _________
§ 2 6 6 ,2 7 5
P ennsylvania C om p an y . — D i v i d e n d D e c r e a s e d ' — T h i s c o m -
f o r 1 9 1 0 , o r (h e s a m e a s i n 1 9 0 7 a n d 1 9 0 8 , a g a i n s t 8 %
in 1 9 0 9 .
A n n u a l D ividend R ecord (P e r C en t).
1803 189 1 ’ 95 to ’ 00 1901 1902 1903 190 1 1905 1906 1907 1908 1900 1910
4
4
N on e
3
3
4
5
5
6
7
7
8
7
In J a n u a ry 1910 a s to c k d iv id e n d o f $16 67 per share w as d e cla re d , in
creasin g the a m ou n t o f s to c k o u ts ta n d in g fro m $ 6 0 ,0 0 0 ,0 0 0 to $8 0 ,0 0 0 ,0 0 0
A s this y e a r ’s d iv id e n d Is 7 % on the $ 8 0 ,0 0 0 ,0 0 0 o f s t o c k , w hile th e d iv i
d en d o f last y ea r w as 8 % on $ 6 0 ,0 0 0 ,0 0 0 , th e P e n n sy lv a n ia R R . receives
w iu ^ T H O O .t e
C0- ?5’ 600’000’ - —
P en nsylvan ia R R . — S e e P e n n a . C o . a b o v e . — V . 9 1 , p . 1 5 1 3 .
Pensacola (F la .) Electric Co — C o n v e r t i b l e N o t e s .— T h e s e
$ 2 5 0 ,0 0 0 n o t e s a r e d e s c r i b e d a s f o l l o w s :
1769
F iv e -y e a r 6% co n v e r tib le g o ld c o u p o n n o te s, t o b e d a te d M ch . 1 1911
an d d u e M ch . 1 191G. In t. M . & S . a t O ld C o lo n y T ru s t C o ., tru stee, B o s
to n .
D e n o m in a tio n s $ 100, $500 an d $ 1 , 000. C o n v e rtib le a t o p t io n o f
h old er in to c o m m o n s to c k a t p ar ($100) a fter M ch . 1 1912. C a llable as a
w h ole at 100 an d in t. o n a n y Int. d a te a fte r M ch . 1 1913 u p o n 60 d a y s ’ n o tice .
1 he p r o c e e d s o f this Issue w ill p r o v id e fo r th e re tirem en t o f t h e floa tin g
d e b t, w h ich a m o u n ts t o $ 23 5,00 0, Incurred fo r a d d itio n s an d Im p ro v em en ts
nefrM?sar^ 40 n iee^ th e de m a n d s o f n ew business.
I h e c o m p a n y d o e s th e en tire street ra ilw a y business in P e n sa co la , o p er«,
a I)P /o x im a tc I y 20 m iles o f tr a c k , a n d , th ro u gh ow n ersh ip o f all th e
securities o f th e E s ca m b ia C o u n ty E le c tr ic L ig h t & P o w e r C o ., also d oes th e
en tire e le ctric-lig h tin g and p o w e r business in th e c it y .
R o llin g s t o c k : 30
passenger m o to r ca rs, 8 p assenger trailers an d 11 m iscella n eou s cars. T h e
power- s ta tio n has a c a p a c ity o f 1,400 k ilo w a tts.
CdpitcilizcitiOTi
A u th o rized . Issu ed
lstA¥ :,® % (5125,000 o f these $9 4 6 ,0 0 0 are in tre a s u ry ]$ l ,5 0 0 ,0 9 0 ’ $ 9 4 6 ,0 0 0
?i?a * k o n d s ca n be Issued fo r n o t e xceed in g 1
80 /o o f th e a ctu a l c o s t o f p e rm a n e n t a d d itio n s and
im p ro v e m e n ts .
j D escrib ed
2 5 0 ,0 0 0 [ a b o v e .
5-year c o n v e r tib le 6% c o u p o n n o te s, d u e 1 9 1 6 .............
P referred s to c k , 6/0 c u m u la t iv e ----------------------------------500 ,000
3 00 ,000
C o m m o n s to c k [$<-o0,000 o f th e a m o u n t unissued Is
reserved fo r co n v e rs io n o f c o u p o n n o t e s ]____________ 1 ,050,000
8 0 0 ,0 0 0
b e e fu rth er p articu lars In V . 91, p . 1711 .
Railroad C onstruction.— T o t a l i n 1 9 1 0 — T h e " R a i l r o a d
A g e G a z e t t e ” r e p o r t s t h a t a p p r o x i m a t e l y 4 ,1 2 2 m ile s o f n e w
m a i n t r a c k w e r e b u i l t in t h e U n i t e d S t a t e s d u r i n g t h e c a l e n
d a r y e a r 1 9 1 0 , c o n tr a s t in g as fo llo w s :
4914°2
3°7°498
J9,0,7, '
J996,1
1
9 03421903.
1901.
4
>142
3.7 4 8
3,214
->.212
5,623
49
,308583,8
5,652
6,026
I h e C h ica go M ilw au kee & P u g e t S o u n d a d d e d th e largest a m o u n t o f n ew
Ouilt 72 m iles In I d a h o , 93 m iles In W a s h in g to n , 132 m iles
D aL o ta an d 124 m iles in N o rth D a k o t a ,a to ta l o f 421 m iles. T h e
A t c h . T o p e k a & S a n ta Fe Is s e c o n d , w ith 100 m iles In C a liforn ia an d 298
m iles in T e x a s . T h e N o rth e rn P a cillc b u ilt 236 m iles. T h e S ta te o f T e x a s
Is again first this y e a r, w ith 756 m iles; W a s h in g to n an d N o rth D a k o ta c o m e
n e x t, each w ith o v e r 300 m iles, an d I d a h o , M in n esota, O regon an d S ou th
D a k o ta fo llo w w ith b etw een 200 an d 300 m iles e a c h .
.
C a n ada, 1,844 m iles w ere r e p o r te d , as c o m p a r e d w ith 1,488 m iles in
1909, an Increase o f 356 m iles. T h e G rand T ru n k P a cific bu ilt 335 m iles
an d o n th e eastern en d the N a tio n a l T ra n sco n tin e n ta l b u ilt 437 m iles, a
to ta l or 772 m iles; on the w estern e n d w o rk is u n d er w a y on 1,163 m iles o f
m ain line an d bran ch es and o n th e eastern en d o n 807 m iles. T h e Canauian N orth ern ad d e d 484 m iles in th e W e s te rn P ro v in ce s a n d is n o w a t
f
In ^ la n lto b a , 283 m iles in S a sk a tch e w a n and 221 m iles In
A lb e r ta , a to ta l o f 580 m iles. T h e C a n adian N o rth e rn O n ta rio ad d ed
75 m iles and n o w has w ork u n d er w a y be tw e e n T o r o n t o and O tta w a on
2o8 m iles: also o n a 30-m ile s e ctio n b e tw e e n G o w g a n d a J u n ctio n an d P o r t
A rth u r (500 m iles apa rt) o n the th ro u g h r o u te t o th e P a cific C o a st. T h e
C anadian P a cific laid a to ta l o f 367 m iles an d Is a t w ork o n a b o u t 263 m iles.
— V . 90, p . 54.
S t. Louis Southw estern R y . — D e c i s i o n o n S a f e t y A p p l i a n c e
L a w .— T h e
U . S . C ir c u i t C o u r t o f A p p e a l s a t N e w O r le a n s
o n D e c . 1 3 , r e v e r s in g t h e F e d e r a l C o u r t f o r t h e E a s t e r n D i s
t r ic t o f T e x a s , h e ld th a t th e G o v e r n m e n t c a n c o lle c t a p e n a lt y
u n d e r th e S a fe t y A p p lia n c e A c t a s a m e n d e d A p r il 1 1 8 9 6
o r e a c h d e f e c t i v e c a r in a t r a in , t h e c a r , n o t t h e t r a in , b e i n g
t h e u n it o f o f f e n s e .
T h e c o m p a n y co n te n d e d th a t b y o n e a c t . In w hich 3 cars w e re h a u led ,
there was o n ly o n e m o v e m e n t. J u d g e S h e lb y says th a t th e hauling*
or use o f each ca r co n s titu te s a v io la tio n fo r ' w h ich th e p en a lty
m a y be in d icte d , b u t th at th e co n te n tio n is th a t th e h a u lin g o r use o f each
ca r m ust be separate o r there Is b u t o n e oiTensc.
In v ie w o f th e p u rp os e o f
th e A c t to p r o te c t life and lim b b y th e e n fo rce d e q u ip m e n t o f e v e r y ca r. it
is held th a t th e c o n s tru ctio n co n te n d e d fo r b y th e d e fe n d a n t w o u ld be so
narrow as to d e fe a t th e in ten t o f C on gress.— V . 91, p . 1631, 1575 .
S t. Louis Term inal Electric R y .— N e w S t o c k .— A c e r t i f i c a t e
w a s file d in M is s o u r i o n D e c . 2 7 , i n c r e a s i n g t h e a u t h . c a p i t a l
s t o c k f r o m $ 1 , 0 0 0 ,0 0 0 t o $ 2 , 0 0 0 ,0 0 0 .
T h e r o a d b e lo n g s to
th e M c K in le y s y s t e m .— V . 8 5 , p . 100.
San A ntonio Rio Grande & Tam pico R R . — B o n d s .— T h e
c o m p a n y o n J u ly 1 a p p lie d t o th e T e x a s R a ilr o a d C o m m is
s io n e r s f o r a u t h o r i t y t o i s s u e $ 1 , 8 0 0 ,0 0 0 5 % 3 0 - y e a r g o l d
b o n d s o n 9 0 m il e s o f r o a d , t o e x t e n d f r o m S a n A n t o n i o s o u t h
w e s t t o a p o i n t in L a S a l l e C o u n t y b e t w e e n t h e N u e c e s a n d
F r io r iv e r s .
'Ih e c o m p a n y w as In corp orated In T e x a s on F e b . 1 1910 w ith $ 90 ,000
a u th o riz e d s to c k . T h e H arrison E n gin eerin g C o ., 42 E a st 23d S t., N Y
has th e co n s tr u c tio n c o n t r a c t.
O f th e ro a d 18 m iles is r e p o rte d t o be
gra d e d and it is e x p e c te d to have 4 5 m iles in o p e r a tio n this year.
T h e road
is p r o je cte d to e x te n d fro m San A n to n io t o T a m p ic o on th e G u lf o f M e x ico ,
a b o u t 250 m iles. C h airm an o f the B o a rd , G eo. W . N o ck , N ew Y ork P re s., J . F . E d w a rd s, N . Y . ; 1st V .- P ., H . H . A u b r e y ; 2d V .- P .. W . H
C u llen; 3d V .- P . , A . L . M atlock ; S e c ., H . C. K in g J r .; T r e a s ., J . H . H ale,
all o f San A n to n io , T e x .
Seattle
R enton
& Southern R y . — L i t i g a t i o n o v e r F r a n
c i t y c o u n c il o n D e c . 2 3 v o t e d u n a n im o u s ly
(w ith th e e x c e p tio n o f o n e c o u n c ilm a n , w h o w a s e x c u s e d ) t o
r e v o k e th e fr a n c h is e s o f th e c o m p a n y o n th e g r o u n d t h a t
th e re h a d b e e n a n u m b e r o f v io la tio n s o f th e te rm s o f th e
f r a n c h i s e l i m i t i n g fa r e s t o 5 c e n t s w i t h i n t h e c i t y l i m i t s .
c h i s e s .— T h e
P rio r t o th e m e e tin g the c o m p a n y h ad o b ta in e d a te m p o ra ry In ju n ction
fro m the F ed era l C ou rt restra in in g the c it y a u th orities fro m Interfering
w ith th e o p e ra tio n o f th e cars; but this had n o t been served o n all the p arties
n a m e d therein w h en th e v o te to o k p la c e .— V . 8 9 , p . 919.
Southern Indiana R y . — S e c u r i t i e s R e a d y .— N o t i c e is g i v e n
b y a d v e r t is e m e n t o n a n o t h e r p a g e th a t th e s e c u r itie s to
w h ic h d e p o s i t o r s a r e e n t i t l e d u n d e r t h e p l a n ( V . 9 1 . p. 3 3 7 )
a re n o w rea ctv f o r d is t r ib u t io n a t th e F ir s t T r u s t & S a v in g s
B a n k , C h ic a g o .
T h e G i r a r d T r u s t C o . , P h i l a . , w ill e f f e c t
t h e e x c h a n g e f o r s u c h h o l d e r s o f c e r t i f i c a t e s o f d e p o s i t is s u e d
d i r e c t l y b y it a s d o n o t d e s i r e t o m a k e t h e e x c h a n g e a t
C h ic a g o f o r th e m s e lv e s .
T h e h olders o f certificates o f d e p o s it fo r 5 % co llateral b o n d s o f th e C h ica g o
S ou th ern R y ., issued under tru st agreem en t d a te d J u ly 1 1905, will In a d d i
tio n to the new securities r e c e iv e , as p ro \ ld e d in the plan , a c h e ck fo r th e
a m o u n t o f on e sem i-ann ual in terest Installm ent on their b o n d s.
T h e new c o m p a n y , the C h ica go T erre H au te & S o u th e a ste rn R y .,
began p a y in g at th e B ankers T ru st C o. on D e c. 28 c o u p o n s fo r interest
th a t fell due F e b . 1 1910 and A u g . 1 1910 on 1st m tg e . b o n d s o f th e S o u th
ern In d ia n a R y . C o ., w ith interest fro m d a te o f m a tu rity t o Ja n . 1 1911 .
A b stract o f C ircular Sent b y H od en p yl C o m m itte e o n D e c. 23 to H old ers
o f S outhern Indiana R y . 1st M . 4s.
Y o u r co m m itte e h op es t o be able o n an d a fter D e o . 28 1910 t o retu rn Tall
d e p o s ite d b o n d s and t o p a y all b a ck in terest (co u p o n s o f F e b . 1910 an d
s in ce .— E d .) w ith in terest o n o v e rd u e c o u p o n s ; It h a v in g been n otified th a t
the re o rg a n iza tio n co m m itte e e x p e cts , o n o r s h o r tly a fte r th a t d a t e .t o t a k e
th e final steps In th e plan .
(N o te a n n o u n ce m e n t a b o v e .— E d .) .
T h e new c o m p a n y , th e C h icago T erre H a u te & S ou th ea stern R y . C o .,
has been organ ized und er the laws o f In d ia n a an d has been a u th o rize d to d o
business In Illin o is. I f the details ca n be atte n d e d to in so b rie f a tim e.
It is h o p e d th a t b y D e c. 28 the new c o m p a n y w ill h a v e a cq u ire d th e rail
roa d s o f th e S ou th ern In d ian a R y . C o . an d the C h ica go S ou th ern R y . C o .,
an d w ill h a v e a u th o riz e d (a) the su p p lem en ta l m tg e . t o the G irard T rust
T H E C H R O N IC LE
1770
C « . aa a d d itio n a l s e c u r ity tor t h e S o u th e rn In d ia n a 1st m tg e . b o n d s ; (6)
the ‘ ‘ first a n d r e fu n d in g ” m t g e ., an d (c) th e In co m e m tg e .
T h e e x p e c t a t io n Is th a t th e n ew c o m p a n y w ill be gin business w ith th e
fo llo w in g secu rities o u ts ta n d in g :
Outstanding. A u th orized .
(1) N ew " fir s t a n d r e fu n d in g ” M . 5 0 -y r . g o ld b d s . $ 3 ,1 0 0 ,0 0 0 $ 2 0 ,0 0 0 ,0 0 0
(2) N ew In com e b o n d s ____________________________
6 ,5 0 0 ,0 0 0
6 ,5 0 0 ,0 0 0
(3) N ew c o m m o n s t o c k ____________________________ 4 ,3 0 0 ,0 0 0
4 ,3 0 0 ,0 0 0
(4) S o u th e rn In d ia n a R y . C o . 1st M . g o ld b o n d s .
7 ,5 3 7 ,0 0 0
(C losed Al)
I t Is fu rth er e x p e c t e d th a t all re c e iv e r ’s certificates a n d Indebtedn ess
fo r e q u ip m e n t w ill be p a id o ff. In clu din g the pu rch ase p rice o f s o m e $50 0,00 0
w o rth o f e q u ip m e n t, d e liv e ry o f w hich began in N o v e m b e r o f th is ye a r,
a n d th a t th e n ew c o . w ill h a v e fro m $40 0,00 0 t o $ 50 0,00 0 cash o n h a n d .
T h e su p p lem en ta l m o rtg a g e t o th e G irard T ru st C o. c o n v e y s : (1) A ll th e
e q u ip m e n t o w n e d b y th e S o u th ern In d ia n a R y . C o . o r b y th e r e c e iv e r o f
th e c o m p a n y o n J u ly 1 1910, and ce rta in ad d itio n a l e q u ip m e n t'in te n d e d t o
ta k e th e p la ce o f a n y o f such eq u ip m e n t d e s tr o y e d o r o th erw ise d isp o se d o f.
( 2) A ll in terest w hich th e n ew c o m p a n y has o r m a y h ereafter a cq u ire in
th e B e d fo r d B elt R R . C o ., It b e in g e x p e c te d th a t th e n e w c o m p a n y w ill
v e r y s h o r t ly a cq u ire th e ca p ita l s to c k o f th e B e d fo r d B e lt R R . C o .; an d
(3) A ll e x ten sion s, bran ch es a n d spurs c o n s tr u c te d o r a cq u ire d , o r w h ich
shall be h erea fter a cq u ire d b y th e r e ce iv e r o f th e S o u th e rn In d ia n a R y . C o .
o r th e n e w c o m p a n y fro m a n y p o in t o n th e e x istin g line o f r a ilro a d h e re to
fo re o w n e d b y th e S ou th e rn In d ia n a R y . C o .: p r o v id e d th a t w h en a n y such
b ra n ch , ex ten sion or spur e x ce e d s 10 m iles, n o part in e xcess o f th e 10 m iles
shall be s u b je c t t o th e s u p p le m e n ta l m tg e ., a n d p r o v id e d th a t w hen the
tota l len gth e x ceed s 10 m iles an d n o p a rt Is p u t in o p e r a tio n u n til a fte r th e
to ta l length e x ceed s 10 m iles, th e su p p le m e n ta l m tg e . shall n o t c o n s titu te
a lien o n a n y su ch b ra n ch , e x te n sio n o r s p u r. U n d er th e s u p p le m e n ta l
m tg e . th e n ew c o m p a n y Is b o u n d t o r e p la ce a n y e q u ip m e n t w h ich shall be
w orn o u t o r oth erw ise d isp o se d o f , s o th a t at a ll tim e s th e e ffic ie n cy a n d
c a p a c it y o f th e eq u ip m e n t w ill be fu lly k e p t u p .
In o r d e r th a t ea ch d e p o s ito r m a y re ce iv e all o v e r d u e Interest, w ith Inter
est th e re o n a t th e rate o f 6 % a y e a r , u p o n b o n d s d e p o s ite d b y h im , a n d
m a y r e c e iv e b a ck su ch d e p o s ite d b o n d s (1st M . 4s d a te d 1901) w ith all
c o u p o n s m a tu rin g o n an d a fte r F e b . 1 1911, ea ch d e p o s ito r is requ ested to
resent o r m all th e en clo se d o rd e r, d u ly s ig n e d , a n d his ce rtifica te o f de p o sit
u ly en d orsed In b lan k fo r su rren der, t o th e d e p o s ita r y o r su b -d e p o s ita r y
w h ich issu ed It, th a t Is, t o the B ankers T r u s t C o ., 7 W a ll S t ., N . Y ., th e G ir
a rd T ru s t C o ., P h lla ., or th e A m e r ic a n T ru st C o ., B o s to n , as th e case m a y b e .
T h e d e p o s ita r y o r s u b -d e p o s ita r y w ill sta m p u p o n th e ce rtifica te "in te r
est c o u p o n s d u e F e b . 1 1910 a n d A u g . 1 1910, w ith Interest t o D e c . 28
1910, p a id a n d c o u p o n s su r r e n d e r e d .” — V . 9 1 , p . 1448, 1255.
§
Southern Pacific C o . — S u i t to R e c o v e r O i l L a n d s . — T h e
G o v e r n m e n t o n D e c . 1 0 b r o u g h t s u i t in t h e U n i t e d S t a t e s
C ir c u i t C o u r t a t L o s A n g e l e s , C a l . , a g a i n s t t h e c o m p a n y , t h e
S o u t h e r n P a c i f i c R R . a n d t h e K e r n T r a d i n g & O il C o . ( c o n
t r o l l e d b y t h e c o m p a n y ) t o r e c o v e r 6 ,1 0 0 a c r e s o f o il la n d s
in t h e M i d w a y D i s t r i c t i n K e r n C o u n t y , C a l.
I t Is c la im e d th a t th e lands w ere n o t fo rm a lly p a te n te d b y th e ra ilro a d s
u n til 1904, an d th a t th e y w ere d esign a ted o n th e G o v e rn m e n t su rv e y s as
m in eral b ea rin g o n m a p s m a d e fro m a s u r v e y In 1 90 2.— V . 9 1 , p . 1637,
1631, 1628, 1386.
Southern Pacific of M e xico.— A d d i t i o n a l C o n c e s s i o n . — T h e
c o m p a n y h a s o b ta in e d a c o n c e s s io n e m p o w e r in g th e r o a d to
c o n t i n u e i t s p r o j e c t e d lin e f r o m G u a d a l a ja r a , t h e t e r m in u s
p r e v io u s ly fix e d , a c r o s s M e x ic o in t o M e x ic o C it y .
The
c o n c e s s i o n , i t is s a i d , w ill p r o b a b l y r e s u l t in o b t a i n i n g a m o r e
s a t is f a c t o r y t r a ffic a g r e e m e n t w ith th e M e x ic a n C e n tra l th a n
w o u l d o t h e r w i s e b e p o s s i b l e , t h e r e b e i n g n o p r o b a b i l i t y , i t is
r e p o r t e d , o f a v a ilin g o f th e c o n c e s s io n .
T h e c o m p a n y , w h ose $ 7 5 ,0 0 0 ,0 0 0 s to c k 13 o w n e d b y th e S o u th e rn P a cific
G o ., t o o k o v e r the con ce ssio n s e x te n d in g fro m E m p a lm c t o G u a d a la ja ra ,
w ith 652 m iles o f bra n ch lines, a to ta l o f 1,493 m iles, o f w h ich 900 had
b een c o m p le te d Ju n e 30 1910. T h e a d v a n ce s b y th e S o u th e rn P a cific C o.
fo r c o n s tr u c tio n a m o u n te d on Ju n e 30 1910 t o $ 3 5 ,9 6 5 ,6 0 2 .
C om pa re
S o u th e rn P a cific C o. re p o rt In last w e e k 's “ C h ro n icle ,” pages 1645, 1648
— V . 88. p . 1622.
Stone Canon Pacific R y . — N e iv C o m p a n y .— T h e c o m p a n y ,
i n c o r p o r a t e d i n M a in e o n A u g . 2 5 l a s t , h a s t a k e n o v e r t h e
p r o p e r t y o f t h e r a ilr o a d c o m p a n y o f t h e s a m e n a m e , w h ic h
w a s p u r c h a s e d a t f o r e c l o s u r e s a le o n J u l y 14 1 9 1 0 b y t h e r e
o r g a n iz a t io n c o m m it t e e (V . 9 1 , p . 5 9 0 ).
S to c k a u th o r iz e d
a n d o u t s t a n d i n g , $ 1 5 0 ,0 0 0 ; p a r , $ 1 0 0 .
P r e s ., F r a n k W .
R o l l i n s ; S e c . , Y V a lter H . S e a v e y ; T r e a s . , J o s e p h W . L u n d .
O f f i c e , F i r s t N a t i o n a l B a n k B l d g . , S a n F r a n c i s c o , C a l.
Third A v en u e
R R .,
N ew
Y o r k .— C o m m i t t e e
A p p e a ls
to
C o u r t .— J u s t i c e
A m e n d in t h e S u p r e m e C o u r t in t h i s c i t y
o n D e c . 2 9 g r a n t e d a w r it o f c e r tio r a r i t o th e b o n d h o l d e r s ’
r e o r g a n iz a t io n c o m m it t e e t o r e v ie w th e a c t io n o f th e P u b lic
S e r v i c e C o m m i s s i o n in d e n y i n g t h e i r a p p l i c a t i o n t o a p p r o v e
t h e a m e n d e d r e o r g a n i z a t i o n p l a n . — -V . 9 1 , p . 1 5 7 5 , 1 2 5 5 .
U n ited
R ailw ays
&
Electric
C o.
of B altim ore.— C a lle d
B o n d s . — T h r e e fir s t m o r t g a g e 6 %
b o n d s o f th e C en tra l R y .,
N o s . 1 7 , 1 6 3 a n d 1 8 1 , is s u e d u n d e r m o r t g a g e o f M a y 11 1 8 8 2 ,
w ill b e p a i d a t p a r a t t h e S a fe D e p o s i t & T r u s t C o . o f B a l t i
m o r e o n J a n . 1 1 9 1 1 .— V . 9 1 , p . 1 6 3 1 , 1 3 8 6 .
W a b a s h R R .— D i v i d e n d s o n D e b e n t u r e s .— T h e d i r e c t o r s
h a v e d e c la r e d s e m i-a n n u a l d iv id e n d s o f 3 % o n th e d e b e n t u r e
“ A ” b o n d s a n d 2 % o n th e d e b e n t u r e “ B ” b o n d s , p a y a b le
J a n . 1, b e i n g t h e s a m e r a t e a s p a i d in J u l y a n d J a n . 1 9 1 0 .
P r e v io u s D ividend R ecord o f A and B D ebentures (P e r C e n t).
1896. 1897-99. 1900-04. 1905-06. 1907. 1908. 190 9. 1910.
“ A " b o n d s ____
1
0
6 y ’ ly .
0
6
3
6
6
0
0
N one.
0
1
1
2
4
" B ” b o n d s ____
C om p a re V . 86, p . 5 3 .— V . 9 1 , p . 1328, 1020.
W a g e s .— T h e f o l l o w i n g a r e r e c e n t d e v e l o p m e n t s :
F ifty W e s te rn r a ilro a d sy ste m s, a fte r d ire ct n e g o tia tio n w ith the m en ,
o n D e c. 29 agreed to g iv e their c o n d u c t o r s , ba gg a ge m e n , b ra k e m e n an d
flagm en a 10 % w age Increase d a tin g fro m th e m o rn in g o f th a t d a y . T h e
a rra n g em en t, it is s a id , a ffe cts 7 5,000 m e n a n d w ill c o s t a b o u t $ o ,00 0 ,0 0 0
y e a r ly . T h e C anadian N o rth e rn also a greed to th e p r o p o s itio n a n d the
C a n adian P a cific gra n te d th e Increase, a lth o u g h th eir m e n d id n o t ta k e
p a rt In th e d e m a n d .
,
.
,
,
.
T h e lo c o m o t iv e engineers o n D e c. 24 also re ce iv e d a 10 % Increase, a t a
c o s t . It Is sa id , o f $ 4 ,0 0 0 ,0 0 0 a ye a r.
See p a ge 1730.
T h e L eh igh V a lley engineers, a b o u t 1,000 In n u m b e r, h a v e be e n a llo w e d
an Increase, th e n ew scale g o in g Into e ffe ct o n J a n . 1 a n d th e a v e r a g e In
crease b e in g . It is sa id , a b o u t 6 % .
P assen ger engineers w h o fo rm e r ly
re c e iv e d $3 75 w ill n ow ge t $4 a d a y , fre ig h t engineers w ill be a d v a n c e d
from $4 t o $4 50 a n d y a r d engineers fro m $3 60 to $4 a d a y .— V . 9 1 , p.
520 , 465.
W ilm in g to n (D e l.) N ew castle & Southern R y .— S a l e o f
U p p e r E t v l .— S h e r iff L i p p in c o t t a t W ilm in g t o n , D e l ., o n
D e c . 2 3 s o l d , f o r 8 1 0 0 ,0 0 0 , t o S o l o m o n H a n f o r d o f N e w Y o r k
( r e p r e s e n t i n g , it is s u p p o s e d , E . C la r e n c e J o n e s (J o ., w h o
o w n e d th e g r e a te r p a r t o f th e b o n d s ) th e p o r t io n o f th e ro a d
b e t w e e n W i l m i n g t o n a n d N e w c a s t l e c o v e r e d b y t h e 1 s t -M .
o f th e W ilm in g t o n & N e w c a s tle R y . o f 1 8 9 6 f o r $ 1 5 0 ,0 0 0 .—
V . 9 1, p . 1712, 1448.
[VOL. LXXXXI.
W isco n sin T raction, L ig h t, H e a t & Pow er C o .— Proposed
Hydro-Electric Plant on W o lf R iver.— President John I . Beggs
has been quoted as saying:
T h e n ecessary land has been secu red near G ardn er’ s d a m , In L a n g la d e
C o u n ty , a b o u t 70 m iles fro m A p p le t o n . T h e p o w e r th a t w ill b o d e v e lo p e d
th ere w ill be used b y th e ln teru rb an sy ste m o p e ra te d In th e F o x R iv e r V a l
le y b y th e W isco n s in T r a c tio n , L ig h t, H e a t & P o w e r C o . A t p re sen t w e
are g e ttin g n o p ow er a t all fro m o u r w ater p lan t a t A p p le t o n , as th e G o v
e rn m e n t has sh u t th e w ater o ff (o w in g t o d r o u g h t ), a n d w e are fo r c e d t o
d e p e n d e n tire ly o n o u r steam p la n t. T h e h arnessing o f th e W o lf R iv e r ,
o n w h ich w e w ill sp en d a b o u t $ 1 ,0 0 0 ,0 0 0 , w ill h elp us o u t In fu tu r e yea rs
un d er sim ilar co n d itio n s . T h e d a m w ill be 35 fe e t h ig h , w ith tw o flum es e x
te n d in g 1 yi m iles t o th e site o f th e p o w e r p la n t. T h e r iv e r d r o p s 60 fe e t
In th a t m ile a n d a h a lf, w h ich w ill g iv e us a to ta l fall o f 95 fe e t, s u ffic ie n t
t o d e v e lo p several th o u sa n d h o rse -p o w e r e v e r y 24 h o u rs. W o h o p e t o
h a v e th e p o w e r a v a ila b le fo r use w ith in t w o years. [It Is said t h a t th e
p la n t w ill furnish p o w e r a n d lig h t fo r s ix cities w ith a p o p u la tio n o f 2 0,000
e a ch a n d fo r 40 m iles o f tr o lle y lin e .— E d .— C om pa re V . 91, p . 9 6 J
I N D U S T R I A L , G A S A N D M IS C E L L A N E O U S .
(J. H .) A d a m s & C o ., L os A n g e le s . — R e -i n c o r p o r a t e d c o m
p a n y I n t e r e s t e d i n E l e c t r ic R a i l w a y s a n d T e l e p h o n e E n t e r
p r i s e s . — T h i s c o m p a n y , a r e - i n c o r p o r a t i o n w i t h $ 3 , 5 0 0 ,0 0 0
o f a u t h o r iz e d c a p ita l s t o c k (p a r v a lu e b e lie v e d t o b e $ 1 0 0
a s h a r e ) , f ile d a r t i c l e s i n C a l i f o r n i a o n o r a b o u t D e c . 1 0 ,
th e in c o r p o r a to r s b e in g J . H . A d a m s , J . R . M a r tin , R . B .
W h e e l e r , W . E . D u n n , E . J . M a r s h a l l, J . S . T o r r a n c e a n d
H . E . H u n tin g to n .
“ L o s A n g e le s F in a n c ie r ” o f D e c . 1 7 s a id :
T h e r e -ln c o r p o r a tlo n o f J . I I . A d a m s & C o. w ith a c a p ita liz a tio n o f
$ 3 ,5 0 0 ,0 0 0 , as again st Its fo rm e r c a p ita l o f $1 5 0 ,0 0 0 , is o n e o f th e m o s t
Im p o rta n t ch an ges m a d e re c e n tly In L os A n g e le s. T h e sh ak eu p In th e
ow n ersh ip o f th e c it y r a ilw a y lines, an d th e p u rch ase o f th e F a clflc E le c t r ic
system o f ln teru rb an ro a d s b y th e S o u th e rn P a cific, w as the cau se fo r th e
r e o rg a n iz a tio n .
„
, ,
F irst as th e A d a m s -P h illlp s C o. an d later as Jam es I I . A d a m s & C o ., this
c o n c e r n has been o n e o f th e greatest financial p ow ers in th e S o u th w e s t.
It
w as orga n ize d 17 years a go b y Jam es I I . A d a m s , th e P re sid e n t o f th e reor
gan ized c o m p a n y . J . S . T o r r a n c e , E . J . M arshall an d W . E . D u n n are
V ice -P re sid e n ts. M r. D u n n Is a ctin g w ith II. E . H u n tin g to n , w h o n ow Is
In fu ll c o n tr o l o f th e c it y ra ilw a y lines. O n e -fifth o f th e s to c k o f th e c o m
p a n y Is o w n e d b y these fo u r . T h e o th e r In co rp o ra to rs are H o w a r d H u n t
in g to n , Jam es It. M artin , an d M organ O . A d a m s. T h e la tte r Is t o resign ,
to be su cce e d e d b y F ran k M . B ro w n , S a n F ran cisco re p re se n ta tiv e o f
Jam es II. A d a m s & C o. R o y B . W h eeler an d M organ O . A d a m s are m em
bers o f th e c o m p a n y , alth o u g h n o t o n th e b o a r d o f d ire cto rs .
T h e ch ie f Interests o f th e firm are In th e In d ep en d en t te le p h o n e m o v e m e n t
o n th e P a cific C oast, a n d th r o u g h o u t th e S o u th w e s t.
In this a n d k in d red
lines th e firm has been d o in g a business o f $ 5 0 ,0 0 0 ,0 0 0 a ye a r.
II. E .
H u n tin g to n Is largely Interested In telep h on es In T e x a s a n d th e S o u th w e s t
an d this un ion o f th e A d a m s an d H u n tin g to n interests m ean s a s tron g
fa c to r in th e d e v e lo p m e n t o f In depen den t te le p h o n e lin es.
A lbem arle & Chesapeake Canal C o. — S u c c e s s o r C o m p a n y .
— See C h esap ea k e
p . 1631, 1329.
&
A lb e m a r le
C a n a l C o . b e lo w .— V .
91,
A m erican G as & Electric C o ., N . Y . — G u a r a n te e d B o n d s .—
S e e M a r io n ( I n d .) L ig h t & H e a t in g C o . b e l o w .— Y . 9 1 , p . 7 9 1 .
A m erican W o o le n C o . — R e m o v a l o f N e w Y o r k H e a d q u a r
t e r s .— T h e c o m p a n y h a s m o v e d i t s N e w Y o r k o f f i c e s t o t h e
n e w 1 8 -s t o r y A m e r ic a n W o o le n B u ild in g , a t 1 8 th a n d 1 9 th
s ts . a n d F o u r t h A v e .
T h e c o m p a n y w ill o c c u p y s e v e n f l o o r s
in t h e m a i n b u i l d i n g , w i t h a n a g g r e g a t e f l o o r c a p a c i t y o f
a p p r o x i m a t e l y 1 5 0 ,0 0 0 s q u a r e f e e t .
T h i s w ill b e t h e h e a d
q u a r t e r s o f t h e s e llin g d e p a r t m e n t , t h e e x e c u t i v e o f f i c e s r e
m a i n i n g in t h e S h a w m u t B a n k B l d g . , B o s t o n . — V . 9 1 ,
p . 1162, 520.
A n glo-N ew foun d land D evelop m en t C o ., L t d . — O f fe r i n g o f
l s f M . D e b . S to ck on P a p e r M i l l s , & c ., o f C o m p a n y O rg a n
i z e d to S a f e g u a r d C e r ta in E n g l i s h N e w s p a p e r s . — T h e L a w D e
b e n tu r e C o r p . o f L o n d o n , th e m o r t g a g e tru s te e , o ffe r e d o n
o r b e fo r e N o v . 16 1 9 1 0 £ 5 0 0 ,0 0 0 1 st M . 5 % d e b e n t u r e s t o c k
at par.
A n a d v e r t i s e m e n t s a id in b r i e f :
R e p a y a b le a t par A p ril 1 1960, a n d m a y be r e d e e m e d 'b y c o m p a n y a t
1 0 7 % a t a n y tim e o n 6 m o s .’ n o tice ; also r e p a y a b le a t 1 07 % o n v o lu n ta r y
liq u id a tio n fo r a m a lg a m a tio n o r re c o n s tru ctio n .
In terest A . & O . In L o n
d o n a t o ffic e o f L aw D e b . C o r p ., L td .
F o rm e d In 1905 to safegu ard th e
“ D a lly M a ll," “ E v e n in g N e w s ,” “ D a lly M irro r,” “ W e e k ly D is p a tc h ”
a n d "G la s g o w D a lly R e c o r d ,” a n d th e a llied p u b lish in g c o m p a n ie s , fro m a
d e fic ie n c y In th e s u p p ly o f p a p e r o r seriou s rise In Its p rice .
D ir e c t o r s :
M. M. B e e to n , E s q ., P res.; L o rd N o rth c llffc , Sir H a ro ld H a r m s w o r th ,
B a r t ., K e n n e d y J on es, E sq .
C o n d e n s e d E x tr a c t s fro m O ffic ia l’ L c t t c r , L o n d o n . N o v .
10 1910.
O rga n iza tion .— F o rm e d u n d er law s o f N e w fo u n d la n d In Jan
1 90 5
A u th c a p ita l, $ 7 ,0 0 0 ,0 0 0 , In p re f. a n d d e fe rre d o r d in a r y shares o f $5 ea ch
o f w h ich 1 140,503 shares h a v e been su b s crib e d fo r In cash an d a r c fu lly
p a id , a n d 2,500 shares o f $5 each h a v e been issu ed, fu lly p a id , th e shares
being h eld b y th e A m a lg a m a te d P ress, L t d ., th e A s s o cia te d N ew spap ers,
L t d ., th e P icto ria l N ew sp a p er C o ., L t d ., a n d the D a lly R e c o r d (G la s g o w ),
L t d ., an d certa in sh areh olders In th o se co m p a n ie s .
P ro p erty on W hich the D eben ture S tock Is a 1st M . — (1) A b o u t 12 s q . m iles
o f fre e h o ld lan d a t G rand Falls a n d M lllertow n a n d th e w o rk s, & c ., th ereon .
In clu din g a t G rand Falls a w a te r-p o w e r o f u p w ard s o f 20,000 h . p. (ca p a b le
o f being Increased t o fro m 3 0 ,000 to 3 5 ,0 0 0 h , p . ) , a n d p u lp a n d pap er m ills
m o s t m od ern a n d c o m p le te ; also p u b lic b u ild in g s, s to re s, & c., a n d o v e r 250
d w ellin gs.
(2) L ea seh old lan d , a b o u t 2,0 0 0 s q . m iles, held u n d er g r a n t f o r
99 years, ren ew able In p e r p e tu ity fro m G o v e rn m e n t o f N e w fo u n d la n d ,
w ith tim b e r rights th ereon .
(3) L ea seh old land o f a b o u t 300 s q . m iles h eld
u n d er gran t fro m R e ld -N e w fo u n d la n d C o. fo r 99 years, ren ew a b le In per
p e tu ity , w ith tim b e r rights th ereon . T h e a b o v e -m e n tio n e d p ro p e rties in
clu d e several v a lu a b le ' w a te r-p o w e rs.
(4) L icenses to c u t tim b e r o v e r
an a d d itio n a l area o f a b o u t 1,100 squ are m iles fo r 09 yea rs fro m A u g . 1 906
T h e m ineral rights h a v e been g ran ted t o a s u b sid ia ry c o m p a n y , 9 0 % o f
w h ose ca p ita l th e c o m p a n y o w n s. T h e c o m p a n y also h o ld s a 7 5 % Interest
In th e 22-m llc railw ay fro m Gr^ytd F alls to B o tw o o d , t h e sh ip p in g p o r t;
It also ow n s 19 m iles o f ra ilw a y fro m M lllertow n to M llle rto w n J u n c t io n ,
co n n e c tin g w ith th e R e ld -N e w fo u n d la n d R y .
E xp en d itu re on P ro p erties, C ash, & c ., to A u g . 1910, A g grega ting £ 1 ,3 1 5 ,6 2 1 .
A c q u is itio n o f tim b e r lim its, w a te r-p o w e r p ro p e rtie s, m ill, & c ------ £835,041
C on stru e, o f t o w n ,& c .( £ 8 6 ,8 6 9 ), ra ilw a y, w h a r v e s ,& c .(£ 7 1 ,5 0 3 ) . . 158,372
M in ing o p e r a t io n s ______________________________ _______________________
32,407
S to ck o f logs In hand ( £ 8 5 ,5 2 9 ); also p a p e r, p u lp , & c. ( £ 1 3 7 ,1 9 2 ) - . 222,721
Cash & su n d ry d e b to rs ( £ 2 3 ,0 0 3 ); p a p er & p u lp sold ( £ 4 4 ,0 7 7 )------6 7 ,080
P ra ctica lly th e w h ole o f th e p a p er m a n u fa ctu red Is being sold to th e
[L on d on ] “ D a lly M a ll," " E v e n in g N e w s ,” “ D a lly M irror,” “ W e e k ly D is
p a tc h ” an d “ G lasgow Dally R e c o r d ,” u n d er c o n tra cts based o n cu rre n t
p rices. S o o n a fter Jun e n e x t th e o u tp u t sh ou ld reach- Its m a x im u m .
I t w ill then becom e necessary to Install fu rth er pap er m ach in es as re q u ire d ,
th e co s t o f w hich It Is Intended shall be p ro v id e d o u t o f part o f th e p ro ce e d s
o f th e present d eb en tu re Issue. T h e d a lly o u tp u t ca p a c ity o f th e m ills a t
G rand Falls as n ow eq u ip p ed is 360 ton s (o f 2 ,000 lb s.) m ech a n ica l p u lp
(m oist w e ig h t); 60 ton s su lp h ite p u lp , a n d 120 ton s finished p a p er. W ith
an e x ten sion o f th e pap er m ill to d o u b le Its p resen t c a p a c ity , th e m ark et
v a lu e o f th e o u tp u t w o u ld be o v e r £600,000 a yea r. A lth o u g h th e w ork s
h a v e o p e ra te d fo r o n ly a few m o n th s, th e m a n u fa ctu rin g c o s t has p ro v e d
v e r y lo w . T h e net profits a v a ila b le fo r d eb en tu re interest are, a t their
present rate, con sid e ra b ly m ore th an th e Interest o n th e d eb en tu re s to c k ,
an d In a few years sh ou ld c o v e r th e Interest m a n y tim es o v e r
D ec . 31 1910.J
T H E C H R O N IC LE
Baker (O re.) L ig h t & P ow er C o . — C o n s o l i d a t i o n . — B o n d s .
— S ee E a s te rn O r e g o n L ig h t & P o w e r C o .i n V . 8 9 , p . 1 35 0 .
B ig H orn Basin D epelopm en t C o . — S o l d . — T h e b o n d h o l d
ers, i t is s t a t e d , p u r c h a s e d t h e p r o p e r t y f r o m t h e r e
c e i v e r , G e o r g e W . W e e s e o f C h i c a g o , f o r $ 5 0 , 0 0 0 , t h e m in i
m um p r i c e s e t b y t h e C o u r t , a n d w i l l r e o r g a n i z e a n d c o m p l e t e
the p l a n t . — V . 8 7 , p . 1 0 9 0 ; V . 8 2 , p . 2 8 2 .
B ayless Pulp & Paper C o ., B in gh a m ton , N . Y . — B o n d s
O f f e r e d .— W o o d b u r y
& C o ., 4 5 P in e S t ., N . Y . , o n D e c . 22
1 9 1 0 o f f e r e d a t 1 0 2 a n d i n t . $ 1 8 5 ,0 0 0 1 st M . s i n k i n g f u n d 6 %
g o ld b o n d s .
D ated F eb . 1 1909 and d u e F e b . 1 1929, b u t calla b le , all or part, on a n y
Int. d a te F eb . 1 1914 to F e b . 1 1919 a t 105; a fter F e b . 1 1919 at 103 an d
lilt.
O u tsta n d in g, In cl. b o n d s n o w
o ffe re d , S I ,0 0 0 ,0 0 0 . [T o ta l issue
lim ited t o $ 1 ,5 0 0 ,0 0 0 .] T ru ste e , W . G . P h e lp s, P res. First N a t. Hank,
B in g h a m to n .
I > a r$ 5 0 0 c * .
In t. F . & A .
S in k in g fu n d 6 2 -3 % o f total
b on d s ou ts ta n d in g , p a y a b le on o r b e fo re F e b . 1 1914 an d a n n u a lly there
a fte r.
A b s t r a c t o f L e t t e r f r o m T r e a s . F . J . B a y le s s , B i n g h a m t o n , N . V D e c . 3 TO.
[P ap er m ills, A u s tin , P o tte r C o .. P a .; lu m ber an d p u lp w o o d m ills,
B ea u p re, P . Q ., C a nada, S t. G abriel, I’ o rtn e u f C o ., P . Q ., C an ada. P a p e r
sales o ffic e . R eal E sta te T ru s t B ld g ., P h ila d elp h ia , P a .]
I n c o r p . In 1893 a t B in g h a m to n , N . Y ., w here a sm all p ap er m ill w as
b u ilt.
In 1902, the business h a v in g co n s id e r a b ly Increased and va lu a b le
stu m a g e rights in the n orthern co u n tie s o f P e n n sy lv a n ia h a v in g been o b
tain ed, the c o m p a n y d isco n tin u e d Its B in g h a m to n m ill an d e re cte d Its
present plan t at A u s tin , P a . T h is pla n t has earned each y ear sin ce Its
c o m p le t io n . In a d d itio n to 6 % o n Its c a p ita l s to c k , a large su rplu s, w h ich
has been Invested in tim b e r pro p e rtie s In C anada agg re g a tin g o v e r 3 5 0 ,0 0 0
acres.
T h e Canadian tim b er pro p e rtie s are all lo ca te d a b o u t 20 m iles n . e. o f
c it y o f Q u eb ec and a b o u t 15 m iles fro m S t. L a w ren ce R iv e r . T h e y Inclu de;
(a) 20 s q . m iles ow n ed in fe e sim p le; (b) 180 s q . m iles u n d er a stu m p a g e
lease fro m th e Q u eb ec G o v . o n the J a cq u e s C artier R iv e r (S t. G abriel
lim its); (c) 300 sq . m iles (S t. A n n e lim its) u nd er p e rp e tu a l ch arter fro m th e
S em in a ry o f Q u ebec; o p e ra te d w ith o u t ta xes, at a stu m p a g e c o s t o f less
than on e-th ird th e G o v t, ch arges; (d) 92 s q . m iles o f G o v t , lim its to the
n orth , co n tr o llin g the en tire w atershed o f the S t. A n n e R iv e r . T h ose p r o p
erties h a ve railroad facilities an d are e x c e p tio n a lly a c c e ssib le . T h e c o m
p a n y ow ns con sid era b le fro n ta g e on the S t. L a w ren ce R iv e r , In clu din g a
natural harbor from w h ich It Is p ossible to ship b y w ater d ire ct to B u ffa lo ,
a distan ce o f a b o u t 100 m iles fro m the A u stin p la n t. T h ese Canadian in
v estm en ts h a ve been p u rchased at a c o s t o f o v e r $ 70 0,00 0, w h ich a m o u n t
has been draw n from surplus earnings.
T h e c o m p a n y m anu factu res p ure w hite su lp h ite fibre w ra p p in g pap er
an d Is the largest m an u factu rer o f this grade o f p ap er in the c o u n t r y . T h e
A u stin plan t, w ith stu m p a ge , Is valu ed at o v e r $ 1 ,0 0 0 ,0 0 0 an d the c o m
p a n y ’s stu m p a g e c o n tra cts have been m ain tain ed t o d a te b y a d d itio n a l c o n
tracts an d pu rch ases. T h e c o m p a n y has re c e n tly co m p le te d tw o large
s torage dam s (on e o f rein fo rce d co n cre te ) at an a p p ro x im a te c o s t o f $ 1 2 5 ,
00 0 . E x ten siv e ad d ition s n o w bein g m ade a t the plant w ill Increase the
o u tp u t nearly 1 0 % , g iv in g It a y e a r ly a vera ge o u tp u t o f a p p ro x im a te ly
24,0 0 0 ton s o f p ap er a t a profit o f betw een $30 0,00 0 an d $40 0,00 0 n et.
T h ese exten sion s sh ou ld c o s t a b o u t $200,000 and it is to o b ta in the m o n e y
th e r e fo r th a t w e sell the rem ain in g $18 5,00 0 b o n d s. T h ese b o n d s are a
first m ortg a g e on the A u stin plant an d the stu m p a g e rights on 300 square
m iles o f th e C a nadian p r o p e r ty .
B alance Sheet as o f .Zulu 1 1910.
A ssets ($2,705,27 7) —
L ia bilities ($2,7 0 5 ,2 7 7 ) —
Plant & s t u m p a g e ,A u s t in .$ 1 ,394 ,971 C apital s to c k (par $100) ..$ 1 ,0 0 0 ,0 0 0
C anadian tim ber properties 702 , 740 B o n d s ---------------------782,500
M dse. & supplies, A u s tin .
2 5 1 ,9 2 3 C oll, trust n otes a g s t. S t.
L u m b er & pulp logs, C an ada 2 1 0 ,0 0 0
A n n e P o w . C o . m tg e
.
91,000
A c c t s . receiv a b le (insured)
8 8 ,0 4 4 Bills an d a c c ts . p a y a b le .
309,441
Cash .................................. ..
27,599 S u r p l u s ---------------522,330
Bethlehem
Steel
Corporation. — B o n d s . — H a r v e y F i s k
&
S o n s , N . Y . , r e c e n t l y o f f e r e d fir s t e x t e n s i o n m o r t g a g e 5 %
g o ld b o n d s o f $ 1 ,0 0 0 e a c h ( c * ) , d a te d 1 9 0 0 , d u e J a n . i 192 0 ,
b u t c a l l a b l e a ll o r a n y p a r t a t 1 0 5 a n d i n t . o n a n y i n t e r e s t
d a te .
P r i n . a n d i n t . g u a r a n t e e d b y B e t h le h e m S t e e l C o r
p o r a t io n .
S i n k i n g f u n d , $ 3 0 0 ,0 0 0 p e r a n n u m s in c e J u l y 1
1908.
A u t h o r i z e d a n d i s s u e d , $ 1 2 , 0 0 0 ,0 0 0 ; c a n c e l e d b y
s i n k i n g f u n d , $ 1 , 0 1 5 ,0 0 0 ; o u t s t a n d i n g , $ 1 0 , 9 8 5 ,0 0 0 .
M o rto n
T r u s t C o ., tr u s te e .
A c ir c u la r s a y s :
P resen t C a pitalisa tion o f Bethlehem Steel C om p a n y
$ 1 5 ,0 0 0 ,0 0 0 s to c k (ow n e d b y B e th . I $ 1 0 ,9 8 5 ,0 0 0 first e x te n . M o r t. 5 %
_
S teel C orp .)
bonds
7 ,5 0 0 ,0 0 0 p u r c h . m o n e y M 6 % bds. | 7 ,5 0 0 ,0 0 0 0 % n o t e s 'd u e 'N o v . 1 1914
„ T h e first e x ten sion m o r tg a g e 5 % bon d s a re (a) a first m o rtg a g e u p o n
2o0 acres o f land a cq u ire d at S ou th B e th le h e m , P a ., sin ce A u g . 10 1901, and
th e n ew plan ts w hich h a v e been e re cte d th ereon a t a c o s t o f a b o u t $ 1 0 ,
500 ,000 fo r th e m a n u fa c tu r e o f stru ctu ra l s teel, o p e n -h e a rth rails, & c .;
a lso fu tu re ex ten sion s, & c .; a n d (b) a s e co n d lien u p o n all th e o th e r real
estate an d plant c o v e r e d b y th e p u rch ase m o n e y m o r tg a g e , w h ich , w hen
th e Im p rov em en ts, a lre a d y fin a n ce d , are c o m p le t e d , w ill stan d on the
b ook s (a fter m ark in g o ff liberal d e p re cia tio n ) a t $ 1 9 ,5 0 0 ,0 0 0 , leavin g an
e q u ity o f $1^ ,000,000 fo r th e s e bond s In e xcess o f th e $ 7 ,5 0 0 ,0 0 0 p urchase
m o n e y m ortg a ge.
(S ee V . 8 2 , p. 282; V . 86, p . 916; V . 88, p. 941; V. 90,
p. 9 7 4 .); also (c) on fu tu re e x te n sio n s.
Bethlehem Steel C orp ora tion , G uarantor o j F ir s t E x ten sio n M ortgage Bon ds.
C apital Stock
Total Issu e, i n T rea s'y . O utstanding. P a r.
C om m on s t o c k .......... .............. . .. $ 1 5 , 0 0 0 , 0 0 0
$138,000 $1 4 ,8 6 2 ,0 0 0 $100
P r o f., 7 % n on -cu m ------------------- 1 5 ,0 0 0 ,0 0 0
92,000 1 4,908,000
100
T h e C orp ora tion has no fu n d e d d e b t o th e r th an o u ts ta n d in g o b lig a tio n s o f
B eth leh em Steel C o. (sec a b o v e ) an d b on d s o f subsidiaries o f U nion Iron
W ork s C o ., as follow s: San F ra n cis co D ry D o c k C o ., 5 % b o n d s, $50 0,00 0:
U n ion Ir o n W ork s D ry D o ck C o . 6 % b o n d s, $ 8 6 6 ,2 6 7 .— V . 91, p. 1027, 1514
B oston & M on tan a Consolidated Copper & Silver M ining
C o .— D i s s o l u t i o n . — T h e s h a r e h o l d e r s v o t e d o n D e c . 2 7 t o
d is s o lv e th e c o r p o r a t io n , th e d ir e c to r s to d iv id e th e s to c k o f
t h e A n a c o n d a C o p p e r M i n i n g C o . r e c e i v e d in p a y m e n t f o r t h e
m in e s p r o r a t a a m o n g t h e B . & M . s t o c k h o l d e r s .
See A n a
c o n d a C o . in V . 9 0 , p . 8 5 1 , 9 1 6 , 1 5 5 0 , 1 5 5 1 — V . 8 3 , p . 1 0 3 8 .
Bush Term inal C o ., B rooklyn , N . Y . — N e w T e n a n t . — T h e
l a lc U i n B u ff C o . , it is a n n o u n c e d , w ill b y F e b . 1 r e m o v e its
h e a d q u a r t e r s a n d l a r g e r e f i n i n g p l a n t f r o m A s h e v i l le , N . C .,
t o A e w Y o r k C i t y , h a v i n g m a d e a le a s e w i t h t h e B u s h T e r
m in a l C o . f o r 1 1 ,6 8 5 s q . f t . in M o d e l L o f t B u i l d i n g N o . 5 ,
S o u t h B r o o k l y n , w h e r e t h e B u s h I n d u s t r i a l C o l o n y is l o c a t e d .
A b o u t 5 0 0 h a n d s a r e e m p l o y e d b y t h e f ir m .
F r e ig h t D e liv e r y a n d L o ft B u ild in g in M a n h a tta n — F ir s t o f
T e n S u c h B u ild in g s P r o p o s e d .— T h e f o l l o w i n g f a c t s w e r e
m a d e p u b l i c in O c t o b e r l a s t :
1771
m e n t o f th e C a r n e g ie S te e l C o ., a n d J . W . A lle n , h a v e b e e n
e le c t e d d ir e c t o r s t o s u c c e e d C h e s te r A . C o n g d o n a n d W illia m
B . D i c k s o n , w h o r e s i g n e d .— V . 9 0 , p. 1 5 5 2 .
B utte & Superior Copper C o ., L t d ., D u lu th .— B o n d s — D e D e p o s i t s .— I n c o n n e c t i o n w i t h t h e d e v e l
o p m e n t o f it s z i n c o r e d e p o s i t s , f i r s t s e r i o u s l y c o n s i d e r e d in
J a n u a r y 1 90 9 , th e c o m p a n y h a s m a d e a “ r e fu n d in g a n d im
p r o v e m e n t m o r t g a g e ” t o s e c u r e a n i s s u e o f $ 1 , 0 0 0 ,0 0 0 6 %
g o l d b o n d s , c o n v e r t i b l e i n t o s t o c k , $ f o r $ , a t a n y t im e
w i t h i n 5 y e a r s f r o m d a t e o f is s u e ( S e p t . 2 0 1 9 1 0 ) , a n d d u e
S e p t . 2 0 1 9 2 0 , b u t c a l l a b l e o n a n d a f t e r M a r c h 2 0 191G a t
105.
I n t . M . & S . 20 a t N . W . T r . C o . (t r u s te e ), S t. P a u l,
o r F ir s t N a t . B a n k , D u lu t h .
Par $50, $100, $500.
S in k i n g
f u n d , $ 1 2 5 ,0 0 0 y e a r l y f o r 8 y e a r s .
B o n d s are reserv ed to
r e t i r e S 1 7 5 ,5 0 0 o l d b o n d s ( $ 5 0 0 ,0 0 0 a u t h . ) .
e lo p m e n t o f Z i n c
A b s tra ct
o f C ir c u la r f r o m S h a r e h o ld e r s ’ C o m m i t t e e ( A m a s a P .
L . C . B a r n e t t a n d C . O . B a l d w i n ) . D u lu t h . O c t . 1 9 1 9 1 0 .
P eake.
I f this b o n d issu e Is su b scrib e d an d p a id fo r , all d e b ts c a n b e ta k en ca re
o f an d a m o d e rn c o n c e n tr a to r b u ilt a n d p u t in to o p e r a tio n .
Indebtedness on O ct. 1 1910, A g grega tin g $ 6 4 9 ,1 0 8 .
D u e on or before J a n . 1 1911—
D u e a fter J a n . 1 1911—
C urrent In d e b te d n e ss____
$ 99 ,815 C u rrent In d e b te d n e s s _______ $1 8 9 ,3 3 7
B o n d s, S er. " A . ” J a n . 1 ’ l l 158 ,000 B o n d s , S er. “ B , ” J a n . 1 T 3
17,500
I n t . o n sam e, 6 m o n th s ____
6,320 I n t. o n s a m e , 2 y e a r s _______
2,8 0 0
I n t. o n S er. “ B ” .
700 A m . M etal C o ______________
174,636
T h e last Item , $ 1 7 4 ,6 3 6 , Is p a y a b le at th e ra te o f $1 p e r to n o n th e o r e
m in e d , an d n o t all at this tim e . T h e re is also a c o n t r a c t fo r c e r ta in m a
c h in e ry a m o u n tin g t o $ 79 ,000 .
F o r so m e m o n th s th e c o m p a n y w as o p e r a tin g a t a loss, d u e la rg e ly t o th e
fa c t th a t It w as ex p e rim e n tin g as t o h o w b est t o tre a t its [zinc] ore- b u t
In Ju n e 1910 it Installed In th e B asin c o n c e n tr a to r, w h ich It Is o p e ra tin g
u nd er lease, F o u st jig s ; an d sin ce th a t tim e th e o re has been m in ed an d
treated a t a p r o fit. T h e net loss In J u n e 1910 w as $13 ,1 5 1 , w h ereas t h e
p ro fits fo r A u g u s t 1910 w ere $ 1 9 ,0 2 1 . T h e p ro fits fo r S e p te m b e r ($ 9 ,1 4 3 .
— E d .) w ere less th a n fo r A u g u s t b eca u se o f a b r e a k d o w n in th e h o is tin g
a p p a ra tu s o n S e p t. 2, w h ich has n o w been rep aired . A b o u t 6,321 to n s o f ore
w ere m illed in S e p te m b e r, as a ga in st a b o u t 9,7 2 7 to n s in A u g u s t. T h e
p rice o f s p elter (co m m e rcia l zin c) has a d v a n c e d o v e r th e p rice r e c e iv e d
fo r A u g u s t, an d w e b eliev e th a t th e c o m p a n y ca n sh o w a s u b sta n tia l In
crease In p ro fits o v e r A u g u s t-fro m n o w o n . A t presen t a b o u t 345 ton s are
b ein g m in ed an d m illed d a lly , and a trial sh ip m e n t o f 1,000 ton s is bein g
se n t to B u tte r e d u c tio n w ork s fo r tre a tm e n t.
U n d er th e p lan s u b m itte d , each $10 share o f s t o c k is e n title d t o su b scrib e
fo r $8 50 p ar v a lu e o f b o n d s.
W e are co n v in c e d th a t if this b o n d issu ed s
tak en th e c o m p a n y w ill be u p o n a s o u n d fina ncial basis.
Condensed Statem ent by M in in g E n g in eer R . M . A tw ater J r ., O ct. 18 1 9 1 0
B a rrin g a c c id e n ts , the o p e r a tin g co s ts sh o u ld ru n a b o u t $4 50 p er t o n
u n d er presen t c o n d itio n s , w hereas th e n e t sm elter returns per to n d u rin g
A u g u s t w ere $6 39 and fo r S e p te m b e r $6 8 4 . T h e earn in g c a p a c it y Is
th e re fo re fro m $15 ,0 0 0 t o $25 ,0 0 0 per m o n th . T h e e q u ip m e n t ask ed fo r
sh o u ld m ean an e x tr a in c o m e o f $ 1 ,100 per d a y on a 5 0 0 -to n basis. T h e
earn in g c a p a c it y s h o u ld then b e fro m $40 ,000 to $ 50 ,000 p er m o n th o n th e
presen t spelter m a r k e t.
T h e d e v e lo p m e n ts sh o w up o re In a s a tisfa c to r y
m an n er, b o th In th e e x te n s io n s and a b o v e th e 1 ,0 0 0 -fo o t le v e l; b u t it w ll
b e m a n y m o n th s b e fo r e the full size Is k n o w n o f th e ore b o d ie s a lre a d y d is
c lo s e d . A t th e ra te o f 500 ton s per d a y o p e ra tio n s sh o u ld be m ain tain ed
fo r several y e a rs .
[C o m p a n y w as in c o rp o ra te d In A r lz . In 1906. C ap.
s to c k a u th ., $ 2 ,5 0 0 ,0 0 0 In $10 shares; o u ts ta n d in g , $ 1 ,1 1 2 ,7 3 9
Pres
A . B . W o lv in ; S e c ., W a lter S . H o rr , a n d T r e a s ., S . B . B eclier all o f
D u lu th .— E d .]— V . 91, p . 278.
Central M exico L igh t & P ow er C o .— A d d i t i o n a l B o n d s .
— K e n n e t t C o w a n & C o ., C h ic a g o , r e c e n t ly o ffe r e d fo r
s a le a n a d d i t i o n a l $ 1 , 0 0 0 ,0 0 0 f ir s t m o r t g a g e 6 % g o l d b o n d s ,
d a te d J a n . 1 1 9 1 0 , g u a r a n te e d a s t o p r in c ip a l a n d in t e r e s t b y
th e G u a n a ju a t o P o w e r & E le c tr ic C o . (V . 9 0 , p . 7 0 1 ).
E a rn in g s o f G uanajuato P o w .& E le c .C o ., G uarantor, fo r Y ears ending J u ly 3 1 .
Y ea r ending
G ross
E x p en ses &
N et
F ix e d
B a lan ce,
J u ly 31—
E a rn s.
M a in t.
E a rn s.
Charges. S u rp lu s.
1 9 0 9 -1 0 ............................$514,273 $ 1 1 8,44 2
$395,831 $15 0,67 3 $245,158
19 0 8 -0 9 ............................. 484,475 121,538
362 ,9 3 7
140 ,747
2 22 ,190
F o r J u ly 1910 the gross earnings w ere $ 43 ,031 ; net e arn in gs, $ 33 ,512 ;
n e t p ro fit, $ 2 0 ,9 8 7 , w h ich w o u ld Indicate a net p rofit fo r the y e a r o v e r all
ch a rge s, & c., In e xcess o f $25 0 ,0 0 0 .
E n d orsem en t.— “ F o r v alu e r e c e iv e d , th e G u a n a ju a to P o w e r & E lectric
C o . h e re b y guaran tees p a y m e n t o f th e p rin cip a l and in terest m e n tion ed In
th e w ith in b o n d ,a c c o r d in g to th e te n o r an d e ffe c t th e r e o f. [Signed u n d er
c o r p o r a te seal o f G u a n a ju a to c o m p a n y b y its A ssistant S e cre ta ry an d
V ic e -P r e s id e n t.]”
C om pare V . 90, p . 701, 449 , 239 .
Central & South A m erican Telegraph C o . — P a r t l y E s t i
m a te d E a r n i n g s . — F o r 3 m o n t h s a n d y e a r e n d i n g D e c . 3 1 :
3 M o s.
Total I n c .
Net I n c im e .
1 9 1 0 ...
$ 4 3 5,50 0
$271,750 (1
1009 . . .
445 ,500
283,700 (1
Y ea r—
1910 . .. $ 1 , 7 1 9 , 0 0 0
$1,0 6 1 ,2 0 0
1909 .
1 ,648.500 1,000,900
— V . 91, p . 873 .
D ividends.
B a l .,S u r . Total S u rp
H % )$ 1 4 3 ,5 6 5
$ 1 2 8 ,1 8 5 $ 2 ,2 4 9 ,4 7 8
'A u
/o) 143 ,565
140 ,135
1,7 7 5 ,0 9 3
( 6 % )$ 5 7 4 ,2 6 0
(6 % ) 574,260
$ 4 8 6,94 0
426 ,6 4 0
$ 2 ,2 4 9 ,4 7 8
1,7 7 5 ,0 9 3
Chesapeake & Albem arle Canal C o .— R e o r g a n iz e d C o m
p a n y . — T h e c o m p a n y w a s i n c o r p o r a t e d in V ir g i n i a o n D e c . 16
a s s u c c e s s o r o f t h e A l b e m a r l e & C h e s a p e a k e Canal C o . ,
w h i c h w a s s o ld u n d e r f o r e c l o s u r e N o v . 1 0 t o t h e fir s t m o r t g a g e
b o n d h o l d e r s ’ c o m m i t t e e ( V . 9 1 , p . 1 3 2 9 , 1 G 3 1 ).
S to ck a u
t h o r i z e d , $ 3 0 0 ,0 0 0 5 % p r e f . a n d $ 2 5 0 ,0 0 0 c o m m o n ; p a r $ 1 0 0 .
T h e o ffic e r s a n d d ire cto rs a re:
j r r c M u c i u , 'l ai n w m . l u w u i u s , ui iv. i . w n s o n oc (Jo., N . Y . ; V ice -P res ,
R o b e rt L . H arrison , N . Y .; S e c . and T r e a s ., I ). S . B urw elt’, N o rfo lk
The
o th e r d irectors are H e n ry T . C u tter, O rm c W ils o n and E d w a rd J . H an ey
o f N ew Y o rk and W illia m B y rd o f S h o rt H ills, N . J .
C itizens’ G as Co. of K an k ak ee, 111.— M e r g e r . — S e e K a n
k a k e e G a s & E l e c t r i c C o . , V . 9 1 , p . 8 7 5 , 7 2 0 .— V . 7 9 , p . 2 4 5 9 .
City of Chicago Brew ing & M alting C o . — R e p o r t . — T h i s
E n g lis h c o r p o r a t io n h a s r e c e iv e d d iv id e n d s fr o m its A m e r ic a n
s u b s id ia r y fo r th e y e a r e n d in g S e p t . 3 0 1 910 a m o u n t in g to
£ 1 6 , 4 2 6 ( $ 8 0 , 0 0 0 ) , its p r o f i t a n d l o s s a c c o u n t o t h e r w i s e
s h o w in g a d e fic it o f £ 2 ,9 6 7 ; d e d u c t in g th e t o ta l d e b it b a l
a n c e a s a t S e p t . 3 0 1 9 0 9 , £ 1 3 ,1 4 7 , le a v e s a s u r p lu s o f £ 3 1 1
S ep t. 30 1910.
T h e in c o m e a c c o u n t o f th e A m e r ic a n c o m
p a n y fo r th e y e a r e n d in g S e p t. 30 fo llo w s :
G rou n d has been brok e n b y th e B u sh T erm in al C o . fo r Its new freigh t
d e liv e ry an d lo ft b u ild in g at 29th. S t., b etw een First an d S e c o n d A v e s
M a n h a tta n . T h e plans call fo r a s tru ctu re fro n ta g e 100 ft d e p th 98 f t ”
to c o s t a p p ro x im a te ly $30 0,00 0, to be built o f c o n c r e te and steel an d
e q u ip p ed w ith a u to m a tic sprinkler s y s te m . T h e b u ild in g will c o n ta in a b o u t
100,000 s q . ft. o f s p a ce, 90,0 0 0 sq . ft. o f w h ich Is to be leased t o m a n u fa c
turers an d w h olesalers, w hile 10,000 sq . ft . on th e g ro u n d floor w ill be
reserved for th e tran sfer s t a t io n .— V . 90, p. 1615, 1427.
F isca l
Total N et
D ep rec’ n & B a d D ebts,
B on d
B a lan ce
Year—
I n c o m e.
R ep a irs.
& c.
Interest.
Surplus'.
1909-10 -------$53 7 ,5 1 0
$234,270
$72 ,9 8 3
$ 1 3 4,47 6
$95 781
1908-09 ------ 523 ,0 2 0
220 ,997
74,3 2 8
141,356
86 339
F rom th e su rplu s as a b o v e In 1909-10, $ 9 5 ,7 8 1 , w as d e d u cte d : S in k in g
fu n d a p p ro p r ia tio n , $ 63 ,320 : reserve fo r Im p ro v e m e n ts . $ 1 0 0 ,0 0 0 , a n d
d iv id e n d s p a id t o E n glish c o m p a n y , $ 8 0 ,0 0 0 , m a k in g a d e ficit o f $147 539.
S ales o f beer a g g re g a te d 429.313 b b ls . In 190 9-1 0, again st 385 ,084 b b ls. in
190.8-09.— V . 84. p . 105.
B utte Coalition M ining C o . — N e w D i r e c t o r s . — C h a r le s W .
Baker, form erly general s a le s a g e n t o f t h e E a s t e r n d e p a r t
Clarksburg F u el C o. — B o n d s C a l l e d . — T h e c o m p a n y h a s
c a l l e d f o r p a y m e n t o n A p r i l 1 1 9 1 1 a ll the 6 % a n d 5 % b o n d s
T H E C H R O N IC LE
1772
o u ts ta n d in g u n d e r
F e b . 25 1902.
th e
m tg e s.
d a te d
S ep t.
26
1901
and
P a y m e n t w ill be m a d e a t th e G u a ra n ty T ru s t C o ., N ew Y o r k , tru stee, as
fo llo w s : 1 0 5 % for th e 6s a n d 1 1 0 % , w ith a ccru e d Interest fo r th e 5s. O f
th e b on d s, $ 2 ,000 5s an d $11 2 ,0 0 0 6s w ere In the han ds o f th e p u b lic D e c . 31
1909, $ 1 ,9 8 6 ,0 0 0 5s an d $28 1 ,0 0 0 6s w ere In th e treasu ry, an d th e rem ain
in g $1 1 9 ,0 0 0 (5s) o f th e $ 2 ,5 0 0 ,0 0 0 a u th . Issue had been re d e em e d b y the
sin k in g fu n d . T h e retire m e n t o f the b o n d s is p r o v id e d fo r fro m th e p r o
ceed s o f the re ce n t sale o f th e $ 9 ,0 0 0 ,0 0 0 C o n so lid a tio n C oal "tlrst an d re
fu n d in g ” 5 % b o n d s (V . 91, p . 1 5 1 4 ).— V . 88. p . 1315.
C o lo r a d o F u e l & I r o n C o .— P u e b lo R e a lty T r u s t C o . B o n d s .
— L . M . B o w e r s , V ic e -P r e s . a n d T r e a s ., r e p ly in g t o o u r in
q u i r y , e x p l a i n s a n i t e m in t h e l a s t a n n u a l r e p o r t (s e e f o o t
n o t e t o b a l a n c e s h e e t in V . 9 1 , p . 1 4 4 5 ) a s f o l l o w s :
T h e C o lo r a d o Coal & Iro n D e v e lo p m e n t C o. w as so ld o u t b y a receiver
several y ea rs a g o an d Its p r o p e r ty w as b o u g h t b y th e P u e b lo R e a lty T ru st
C o ., a s u b sid ia ry o f the C o lo ra d o F uel & Ir o n C o ., s u b je c t t o b o n d s m atu rin g
J u ly 1 1909 fo r $57 5 ,0 0 0 . T h ese b o n d s w ere p aid a t m a tu r ity an d a new
m o r tg a g e given on th e p r o p e r ty b y th e P u e b lo R e a lty T r u s t C o. (secu ring
th e $ 5 7 5,00 0 6s sh ow n In the b a l. sheet— E d .) — V . 91, p. 1445.
C o l t ’ s A r m s C o . — B o n d s C a l l e d .— S e v e n t y ( $ 7 0 , 0 0 0 ) c o l
la t e r a l t r u s t 5 s i s s u e d u n d e r i n d e n t u r e d a t e d J u l y 1 1 9 0 1
h a v e b e e n d r a w n fo r p a y m e n t a t 1 05 a n d in t e r e s t a t th e
A m e r ic a n T r u s t C o ., 5 0 S ta t e S t ., B o s t o n , t r u s t e e , o n
Jan . 2.
T h i s w ill l e a v e $ 2 8 2 ,0 0 0 b o n d s o u t s t a n d i n g .
D i v i d e n d .— A q u a r t e r l y d i v i d e n d o f \ Y i % h a s b e e n d e
c l a r e d o n t h e $ 2 , 5 0 0 ,0 0 0 c o m m o n s t o c k , p a y a b l e o n J a n . 1
1 9 1 1 t o h o l d e r s o f r e c o r d D e c . 17 1 9 1 0 .
T h e s to c k w a s p la c e d
o n a 6 % b a s is in J u ly la s t.
N e w D i r e c t o r .— S y l v e s t e r C . D u n h a m w a s e l e c t e d a d i r e c
t o r in A u g u s t 1 9 1 0 .— V . 9 0 , p . 1 6 1 6 .
C o n s o lid a te d
L ig h t, H ea t & P o w e r
O tta w a L ig h t,
in V . 9 0 , p . 2 4 0 .— V . 8 3 , p . 3 8 1 .
N a m e — D i v i d e n d .— S e e
C o . , O t t a w a .— N e w
H eat & P ow er C o.
(J . B . & J . M .) C o r n e ll C o ., S tr u c t u r a l I r o n a n d S te e l C o n
t r a c t o r s , N e w Y o r k C i t y a n d C o ld S p r i n g .— L i a b i l i t i e s . —
S c h e d u l e s tile d in t h e U . S . D i s t r i c t C o u r t o n D e c . 12 s h o w :
L ia b ilities, $ 1 ,2 9 2 ,1 6 3 , o f w h ich $ 8 4 6,48 3 are secu red (In clu din g $66 0,00 0
b o n d s ).
N om in al assets, $ 1 ,3 4 8 ,7 4 9 , v iz .: rea l e sta te , $22 5 ,9 5 0 ; p la n t, & c .,
$83 5 ,7 2 4 ; s to c k o n h a n d , $96 ,532 : w o rk In progress, $6 7 ,9 3 6 ; a c c o u n ts ,
$54 ,7 6 9 ; n otes, $ 23 ,600 ; ca sh , $420; cash on d e p o s it w ith a b o n d in g c o m
p a n y on an ap p ea l In a law su it, $20 ,000 ; shares o f s to c k in o th e r c o s ., $ 2 3 ,
818 .
[On O c t . 1 th e re ce iv e rs’ liabilities a d d itio n a l to the a b o v e a g gregated
$ 3 4 6 ,2 8 9 , in c l. $ 2 0 0,00 0 re ce iv e rs’ c e r tiflc a tc s .
C om p a re V . 91, p. 1449.
C r a w f o r d s v i l l e ( I n d . ) W a t e r & G a s C o . — A c q u i s i t i o n .—
T h is c o m p a n y r e c e n t ly p u r c h a s e d th e n a tu ra l g a s m a in s a n d
o t h e r p r o p e r t y o f t h e I n d i a n a L i g h t i n g C o . in t h e C i t y o f
C r a w fo r d s v ille .
I t p u rc h a se d n o n e o f th e s to c k o f th e I n
d i a n a L i g h t i n g C o . a n d h a s n o i n t e r e s t in t h a t c o r p o r a t i o n .
T h ere a rc n o ch an ges In th e ca p ita liz a tio n o f th e C ra w fo rd sville W a te r &
Gas C o ., w h ich still con sists o f $37 5,00 0 s to c k In $100 shares ($ 2 0 0 ,0 0 0 be
ing 5 % pref.) an d $ 75 ,000 1st M . g o ld 5s o f $1,000 e a c h , d a te d Ju n e 1
1908 an d d u e 1928; tota l a u t h ., $ 1 5 0 ,0 0 0 .
In t. p a y a b le at B a n k ers’ T ru st
C o ., N . Y .
T ru stee, In d ia n a T ru st C o ., In d ia n a p o lis .
D irectors: C. F .
S treet, P res.; H a rold F. Ja m es, S e c.; E . L . S treet.
O ffic e , 43 C ed ar S t.,
N . Y . — V . 8 0 , p . 1102.
D e e r e & C o . , M o l i n e , 111.— S t a t u s . — T h i s c o m p a n y , t h e
l a r g e s t m a n u f a c t u r e r o f p l o w s in t h e w o r l d , is u n d e r s t o o d t o
c o n fir m th e f o llo w in g :
C a pital s to c k ou ts ta n d in g , $1 0 ,0 0 0 ,0 0 0 (V . 8 9 , p. 154 4); b o n d s , $50 0,00 0
(V . 87, p . 5 4 7 ). T h e to ta l a ccu m u la te d surplus, w h ich w as $ 2 ,0 0 0 ,0 0 0 on
J a n . 1 1909, w as o n J u ly 1 1910 $ 5 ,0 0 0 ,0 0 0 . T h e M olin e W a g o n C o ., h a v
in g a y e a rly o u t p u t o f 3 0 ,000 ve h icle s, w as taken o v e r In Ja n . 1910, an d In
M ay last the K em p & B u rp ee plan t at S y c a m o r e , w h ich doe3 an ann ual
business o f $ 1 ,0 0 0 ,0 0 0 .— V . 90, p. 375.
D o lo r e s
M in e s
C o .,
N ew
Y o r k C it y .— A m a lg a m a tio n —
O p t i o n o f E x c h a n g e to E x p i r e J a n . 1 1 .— T h e c o m p a n y r e c e n t l y
in c r e a s e d i t s c a p i t a l s t o c k f r o m $ 2 , 0 0 0 ,0 0 0 , c o n s i s t i n g o f
2 ,0 0 0 , 0 0 0 s h a r e s o f t h e p a r v a l u e o f $ 1 , t o $ 9 , 0 0 0 ,0 0 0 , c o n
s is t in g o f 9 0 0 , 0 0 0 s h a r e s o f t h e p a r v a l u e o f $ 1 0 e a c h ; $ 4 ,
0 0 0 , 0 0 0 n e w s t o c k w a s s e t a p a r t t o a c q u i r e a ll o r s o m a n y o f
t h e 4 0 0 . 0 0 0 s h a r e s o f D o l o r e s M in e s C o . a s c a n b e o b t a i n e d
b y t h e is s u e o f o n e o f t h e n e w $ 1 0 s h a r e s f o r e a c h $ 5 s h a r e o f
D o l o r e s M in e s C o . , a n d $ 2 , 4 9 9 ,1 4 0 n e w s t o c k w a s a p p r o
p r ia te d fo r th e p u r p o s e o f a c q u ir in g th e 3 5 7 ,0 2 0 s h a re s o f
101 R a y o M in e s C o . , o r s o m a n y t h e r e o f a s c a n b e o b t a i n e d
b y t h e is s u e o f $ 7 o f t h e n e w s h a r e s f o r e a c h s h a r e o f E l R a y o
M in e s C o . o f t h e p a r v a l u e o f $ 2 .
T h e r e m a in i n g n e w s h a r e s
( $ 5 0 0 ,8 6 0 ) a r e r e s e r v e d f o r t h e p u r c h a s e o f a d d i t i o n a l p r o p
e rty a n d gen eral p u rp o se s.
T h e a fo r e s a id r ig h t o f e x c h a n g e
w ill e x p i r e o n J a n . I I 1 9 1 1 , u n le s s e x t e n d e d .
T h e h o ld e r s
o f a v e r y la rg e p r o p o r t io n o f th e s h a re s o f b o t h c o m p a n ie s
h a v e a ssen ted .
S e c r e t a r y J . D . T o o k e r in a c i r c u l a r d a t e d
A u g . 2 3 1 9 1 0 s a i d in b r i e f :
T h e fo llo w in g is a [con d en sed ] e x tr a c t fro m a circu la r add ressed to the
s tock h old ers o f th e M ines C o. o f A m e rica u n d er d a te o f Ju n e 18 1910, signed
b y J o h n L a m b e rt, I . L . E llw o o d , W illia m F le m m in g , I I . S . B la ck and
W . E . R eis, d irectors o f th a t c o m p a n y an d o f y o u r c o m p a n y " B o t h the
D olores an d El R a y o co m p a n ie s arc free o f d e b t an d fu lly e q u ip p e d fo r m in
in g an d m illin g their ores a n d possessed o f am p le w o rk in g c a p ita l In the fo rm
o f ca sh , b u llion , s tock s o f g o o d s and su pplies, & c.
B o th m in es h a v e lon g
sin ce passed th e ex p erim e n ta l stage and are In large p r o d u c tio n
A ll the
large expen ses o f d e v e lo p m e n t h a v e been paid o u t o f p rofits. T h o se c o m
p a ra tiv e ly sm all p ortio n s o f the properties w hich h a v e been e x p lo re d and
d e v e lo p e d are p r o d u cin g large profits.
In a d d itio n to th e a m p le o re reserves
a lrea d y b lo ck e d o u t , each o f these co m p a n ie s possesses a large area o f v ir
gin g rou n d w h ich , w hile n o t y e t e x p lo r e d . Is co n fid e n tly b e lie v e d to be
o f g reat v a lu e. O ur c o n s u ltin g engineer a dvises us th a t th e presen t net
p rofits o f these p rop erties In all p r o b a b ility w ill be la rg e ly Increased.
A ll stock h old ers w h o desire to take a d v a n ta g e o f th e a rra n g e m e n t a b o v e
s ta ted sh ou ld forw a rd their s to c k certifica tes [en dorsed fo r transfer] to th e
U. S. M tge. & T ru st C o ., 55 Cedar S t ., N . Y . C ity , to g e th e r w ith an a m o u n t
su fficien t t o c o v e r the N . Y . transfer s ta m p ta x — 2 c. per $100 par v a lu e
o f D olores shares to be tran sferred, and 2c. fo r e v e r y fra ctio n o f such $100
D o m e s t i c G a s C o . , L o s A n g o l e s . — S u c c e s s o r .— S e c S o u t h
e r n C a l i f o r n ia G a s C o . b e l o w a n d c o m p a r e V . 8 7 , p . 1 6 6 6 .
D o m i n i o n C a n n e r s , L t d . — B o n d s O f f e r e d .— C . M e r e d i t h &
C o . , L t d . , M o n t r e a l , a r e o f f e r i n g a t 100 a n d i n t . t h e u n s o l d
p o r t i o n o f $ 7 0 0 ,0 0 0 1st M . 6 % b o n d s d u e
A p r il 1 1 9 4 0
b u t ca lla b le a fte r 1 92 0 a t 110 a n d in t .
In terest A . & O . a t
B a n k o f M o n tr e a l, H a m ilt o n , T o r o n t o , M o n tr e a l, N ew Y o r k
a n d L o n d o n , E n g l a n d , p a y a b l e in s t e r li n g o r c u r r e n c y .
A
c ir c u la r s h o w s :
[V O L .
LXXXXI
C a pitaliza tion—
A u th orized .
Issu ed .
First m o rtg a g e 6 % b o n d s , ___ ______________________ $ 2 ,5 0 0 ,0 0 0
$ 1 ,5 0 0 ,0 0 0
P re fe rre d s to c k 7 % c u m u la t iv e ________________________ 5 ,0 0 0 ,0 0 0
2 ,1 0 0 ,0 0 0
C o m m o n s t o c k __________________________________________ 5 ,0 0 0 ,0 0 0
2 ,1 0 0 ,0 0 0
T h e D o m in io n Canners, L t d ., has acq u ire d the C a nadian Canners, L t d .,
w ith its 34 fa cto rie s a t d ifferen t p o in ts and 14 o th e r in d e p e n d e n t c o m p a n ies,
g iv in g It In all 48 c a n n in g fa c to r ie s , all In llrst-class c o n d itio n an d g e o
g ra p h ica lly situ ated a t th e m o st a d v a n ta g e o u s cen tres fo r secu rin g the
fru its, v e g e ta b le s an d o th e r p ro d u cts used b y th e m . S o m e o f th e larger
fa cto rie s ra n k as th e b est e q u ip p e d o n th e A m e rica n C o n tin e n t.
T h e fa c
tories are d is trib u te l o v e r th e en tire fertile strip o f sou th ern O n ta rio, from
N a p a n cc o n th e east, w estw ard to S a n d w ich , 400 m iles, an d m o st o f them
e n jo y in g b o th w ater an d rail tra n sp o rta tio n fa cilities.
T h e c o m p a n y o w n s a ca n fa c to r y w h ich turns o u t th e b u lk o f ca n s re
q u ire d ; It also ow n s a lith o g ra p h in g p la n t w h ich m ak es all the c o m p a n y ’ s
labels a n d do e s c o n s id e ra b le o u ts id e w ork . T h e b u lk o f the c o m p a n y ’ s
o u t p u t , w h ich co n s titu te s o v e r 9 0 % o f the o u tp u t o f ca n n e d fru its an d veg e
tables in th e D o m in io n o f C an ada, If sold u n d er bran d s an d tra d e-m a rk s
th a t h a v e been h o u se h o ld w ord s in C an ada fo r o v e r 25 years. T h e tlxed
assets sh o w $ 2 ,3 4 8 ,5 3 7 , a g ain st w h ich there Is a b o n d Issue o f $ 1 ,5 0 0 ,0 0 0 .
T h e a v e ra g e net earnings fo r 1906-07-08-09 w ere $29 7 ,7 0 1 , or m ore th an
three tim es the p resen t b o n d Interest.
F o r 1910 n et earnings, a fte r p r o v id in g fo r b o n d ch arges a n d de
p r e cia tio n , w ill be o v e r ______________________________________________ $ 4 0 0,00 0
In terest o n $ 1 ,5 0 0 ,0 0 0 b o n d s a t 6 % _________________________ $90,000
D iv id e n d o n $ 2 ,1 0 0 ,0 0 0 p referred a t 7 % ______________ _____ 147,000 237 ,000
Surplus (e q u iv a le n t t o a lm o s t 8 % o n c o m m o n s t o c k ) -------------------$16 3,00 0
[T he c o m p a n y w as In co rp o ra te d u n d er th e C a nadian C om panies A c t on
F e b . 1 1 1910, w ith $1 0 ,0 0 0 ,0 0 0 s to c k , in $100 shares. M ain o ffic e H a m ilto n ,
O n t. P r e s ., G . P . G rant; S e c .-T re a s ., H a rry R ile y .— E d .]
D o m i n i o n S t e e l C o r p o r a t i o n , L t d . — T e r m s o f P u r c h a s e .—
S e cre ta ry C . S . C a m e ro n , S y d n e y , N . S ., u n d e r d a te o f
D e c . 2 0 , w r it e s :
I
h a ve y o u rs o f th e 12th Inst.
W ith referen ce t o th e transfer o f th e se
curities o f th e C u m b erlan d I ty . & C oal C o . (V . 91, p . 6 2 9 ), the a ctu a l dis
p o s itio n o f the secu rities is still in co m lp e te ; the fa cts as th e y a rc stated
o n th e p rin ted slip a tta c h e d t o y o u r letter are p r a c tic a lly c o r re c t, e x c e p t
th a t the s to c k o f th e C u m b erlan d I ty . & Coal C o . w ill be e x ch a n g ed for
c o m m o n s to c k o f th e D o m in io n Steel C o rp o ra tio n .
T h e o u ts ta n d in g 6 %
b o n d s o f the C u m b erlan d I ty . & C oal C o. w ill p r o b a b ly b e ex ch a n g ed for
5 % b o n d s o f the sam e c o m p a n y , g u aran teed b y th e c o r p o r a t io n .— V. 91,
p . 1514, 1330.
E ast
C reek
(N . Y . ) E le c t r ic L i g h t & P o w e r C o .— N e w
P . S . C o m m is s io n , 2 d D is t ., r e c e n t ly a u
t h o r iz e d th e c o m p a n y t o in c r e a s e its c a p ita l s t o c k fr o m
$ 2 0 0 ,0 0 0 t o $ 5 0 0 ,0 0 0 , a n d a l s o t o m a k e a m o r t g a g e t o t h e
N e w Y o r k T r u s t C o . , a s t r u s t e e , t o s e c u r e $ 3 , 0 0 0 ,0 0 0 b o n d s .
S e c u r i t i e s .— T h e
T h e c o m p a n y Is a u th o riz e d to Issue a t present $ 1 ,7 5 0 ,0 0 0 b o n d s a t n o t
less th an 8 5 , t o retire o u ts ta n d in g b on d s ($ 125,000 o f an Issue o f $ 2 0 0,00 0
1st M . 5s m a d e In 1902) a n d o th e r o b lig a tio n s , and to p r o v id e a d d itio n a l
lands a n d w ater p o w e r, new p o w e r plan t an d e x te n sio n s.
I n c o r p . In N . Y . S ta te In M arch 1902 w ith p o w e r to op e ra te In F u lto n .
H erk im er an d M o n tg o m e ry c o u n tie s . O perates an e le ctric p la n t at E a st
Creek s u p p ly in g e le ctr ic ity In S t. J o h n sv ille , F o rt I’ laln , N elllsto n , C anajo h a r le a n d P a la tin e B rid ge, an d c o n te m p la te s th e d e v e lo p m e n t o f a d d i
tio n a l w ater p o w e r a t In gh am s M ills, o n E a st C anada C reek, w here It Is
estim a te d th a t 15,000 h .p . can be d e v e lo p e d .
A rran g em en ts, It Is s ta te d ,
are b ein g m ade w ith the F o n d a J o h n sto w n & G lo ve rsvllle R R . w ith a v iew
to su p p ly in g th a t c o m p a n y w ith 7.5 0 0 h . p . G u y R . B e a rd sle y o f E a st
C reek, N . Y . . Is P re s id e n t.— V . 75, p . 908.
E a s t J e r s e y W a t e r C o .— D e c i s i o n . — T h e C o u r t o f E r r o r s
a n d A p p e a l s o f N e w J e r s e y o n N o v . 1 5 , in t h e s u it b r o u g h t
b y t h e C i t y o f P a t e r s o n in 1 9 0 5 , s u s t a i n e d t h e d e c i s i o n o f
V i c e - C h a n c e l l o r E m e r y , h o l d i n g t h a t t h e c o m p a n y is i l le g a ll y
d i v e r t i n g w a t e r f r o m t h e P a s s a ic I l i v e r , a n d t h a t a n i n j u n c
t i o n s h o u l d b e is s u e d a g a i n s t i t a f t e r a f i x e d d a t e .
T h e C ity o f P a terson c o n te n d e d th a t, as a rip arian o w n e r. It Is en titled
to the natural flow o f th e riv er. T h e case Is o n ly o n e fe a tu re o f th e litig a
tio n a g ain st the c o m p a n y t o r e c o v e r the w a ter o f the P assaic fo r th e use o f
th e p e o p le o f th e S ta te . T h e cities o f P a te rso n an d P assaic are su p p lied
b y th e c o m p a n y a n d m a y be fo rc e d to seek a new su p p ly o r a c q u ir e th e
present o n e b y co n d e m n a tio n p r o ce e d in g s .— V . 91, p. 719.
E l e c t r i c a l S e c u r i t i e s C o r p o r a t i o n . — D i v i d e n d P e r io d C h a n g e d
q u a r te r ly d iv id e n d o f
has been d e
c l a r e d o n t h e $ 1 , 0 0 0 ,0 0 0 p r e f . s t o c k , p a y a b l e F e b . 1 1 9 1 1 t o
h o ld e r s o f r e c o r d J a n . 31 1 9 1 1 .
D is tr ib u t io n s h a v e h e r e t o
fo r e b e e n p a id s e m i-a n n u a lly , th e r a t e h a v in g b e e n 2 ) ^ %
h a l f - y e a r l y f r o m M a y 1 9 0 5 t o N o v . 1 1 9 1 0 i n c l .— V . 9 1 , p . 7 1 5 .
to Q u a r t e r l y . — A
E le c t r ic a l U t ilit ie s C o r p o r a t io n .— D iv id e n d P e r io d C h a n g ed
q u a r te r ly d iv id e n d o f
has been d ed a r e d o n t h e $ 8 3 9 ,0 0 0 p r e f . s t o c k , p a y a b l e J a n . 16 191 1 t o
h o l d e r s o f r e c o r d D e c . 31 1 9 1 0 .
A d is tr ib u tio n o f th e s a m e
a m o u n t w a s m a d e O c t . 15 1 9 1 0 , t h e fir s t d i v i d e n d (2
s e m i - a n n u a l l y ) h a v i n g b e e n p a i d J u l y 1 1 9 1 0 .— V . 8 9 , p . 1 4 8 5 .
to Q u a r t e r l y . — A
F i r e s t o n e T i r e & R u b b e r C o . , A k r o n . — A d d i t io n a l S t o c k .—
T h e d i r e c t o r s h a v e v o t e d t o is s u e t h e r e m a i n i n g $ 5 0 0 ,0 0 0 o f
t h e $ 1 , 0 0 0 ,0 0 0 a u t h o r i z e d p r e f . s t o c k a n d t o g i v e s t o c k
h o l d e r s t h e p r i v i l e g e o f s u b s c r i b i n g t o it a t p a r o n o r b e f o r e
J a n . 1.
A r r a n g e m e n t s , it is s a i d , h a v e b e e n m a d e t o d i s p o s e
o f a n y s t o c k n o t s u b s c r i b e d f o r a t a p r i c e n o t le s s t h a n 1 0 2 .
C om p a re V . 9 0, p . 1493.
F r e e h o ld I n v e s t m e n t C o ., S p r in g fie ld ( M o ) .— W o o d r u ff
B u ild in g B o n d s .— F r a n c i s , B r o . & C o . , S t . L o u i s ,s o m e m o n t h s
a g o o f f e r e d a t p a r $ 1 5 0 ,0 0 0 6 % g o l d b o n d s , d a t e d J u n e 1
1 9 1 0 , d u e s e r i a l l y u n t il J u n e 1 1 9 2 4 ., P a r $ 1 , 0 0 0 ( c ) .
h it.
J . & . D . a t M is s is s ip p i V a l l e y T r u s t C o . , S t . L o u i s , t r u s t e e .
V a lu a tio n o f p r o p e r ty : L o t . 76 f t. on S t. L o u is S t. b y 117 H ft. on Jefferson
S t ., $50 ,000 ; 1 0 -sto ry re-In forced co n c r e te o ffic e b u ild in g , t o be c o m p le te d
Jan . 1 1911 at c o s t o f $25 0,00 0; t o ta l, $30 0 ,0 0 0 .
A u th . s to c k , c o m m o n ,
$120,000; p re f. 7 % c u m ., $ 12 0,00 0.
F r e m o n t ( O . ) P o w e r & L i g h t C o . — B o n d s O f f e r e d .— C a m
e r o n N C o . , F ir s t N a t i o n a l B a n k , B l d g . , C h i c a g o , s o m e t im e
a g o o f f e r e d a t p a r a n d i n t . t h e u n s o l d p o r t i o n o f $ 5 0 0 ,0 0 0 1 st
M . 6 % s e r ia l g o l d b o n d s d a t e d S e p t . 1 1 9 0 9 .
A c ir c u la r s a y s :
O rga n ized u nd er the law s o f O h io , w ith a c a p ita l o f $75 0,00 0 an d an
a u th o rize d b o n d issue o f $75 0 ,0 0 0 , o f w h ich $ 1 2 0,00 0 In b on d s has been
reserved tor b e tte rm e n ts .
F ran k H elm Is P res., A. H . J a ck s o n , V Ice-P res.,
a n d D a v id B. L o v e , S ec. an d T r e a s .. all o f F r e m o n t, O
T h e h y d r o -e le ctr ic
p la n t, w h ich w ill be co m p le te d this y e a r, w ill p r o d u c e a m in im u m o f 3 ,0 0 0
h .p . a n d w ill serve F r e m o n t. O .; p o p u la tio n , 1 4 ,000. W ith in a radiu s o f
30 m iles are also T o le d o , F o s to ria , T iffin , S a n d u s k y , N o rw a lk , P o rt C lin ton .
& c ., w ith a to ta l p o p u la tio n o f 2 5 0 ,0 0 0 . See fu rth e r particu lars In V .89, p. 780
F u l t o n C o u n t y ( N . Y . ) G a s & E l e c t r i c C o . — C o n tra c t f o r
M o h a w k H y d r o -E le c t r ic C o . b e lo w .— V . 7 0 ,
p. 999.
P o w e r .— S e e
F u l t o n ( N . Y . ) H e a t , L i g h t & P o w e r C o . — A xva rd a g a in s t
S t a t e .— T h e A p p e l l a t e D i v i s i o n o f t h e S u p r e m e C o u r t , T h i r d
D e p a r t m e n t , o n M a y 6 a ffir m e d th e d e c is io n o f th e C o u r t o f
T H E C H R O N IC LE
D e c . 31 1 9 1 0 .
1773
C la im s a w a r d i n g a j u d g m e n t o f $ 2 8 4 ,0 0 0 ( a m o u n t i n g w i t h I
H u d s o n N a v i g a t i o n C o . , N e w Y o r k . — B o n d s C a l l e d .—
i n t e r e s t t o $ 3 3 7 ,1 5 6 ) a g a i n s t t h e S t a t e f o r d a m a g e t o t h e
T h i r t y - f o u r ( $ 3 4 , 0 0 0 ) 2 0 - y e a r 5 % b o n d s , is s u e d u n d e r c o l
c o m p a n y ’ s p l a n t o n t h e O s w e g o R i v e r a t F u l t o n F a l ls
la te r a l tr u s t d e e d , d a te d J a n . 1 1 9 0 3 , h a v e b e e n d r a w n f o r
t h r o u g h th e c o n s t r u c t io n o f th e b a r g e c a n a l.
p a y m e n t a t p a r a n d in te r e s t o n J a n . 1 a t th e T r u s t C o . o f
T h e barge canal takes p art o f the p r o p e r ty o f th e ele ctric lig h tin g pla n t
A m e r i c a , 3 7 W a ll S t . , t r u s t e e .— Y . 9 0 , p . 3 7 6 .
a n d all o f its w ater p ow er. T h e c o m p a n y cla im e d It had the rig h t t o al
the surplus w aters o f the O sw ego R iv e r , w hile the S ta te urged th a t the barge
can al was an Im p rov em e n t o f the n a v ig a tio n o f the riv e r, and th a t the c la im
an t w as n ot en titled to a n y d am ages fo r w ater rights taken fro m It. T h e
C ou rt of Claim s held th at the barge can al w as n o t an Im p ro v e m e n t o f the
n a v ig a tion o f the O sw ego R iv e r at this p o in t, b u t the c o n s tru ctio n o f an
in d ep en d en t w a te rw a y . T h e to ta l cla im m ade was 5 3 ,4 2 8 ,0 2 8 .
G a s C o m p a n y o f M o n t g o m e r y C o u n t y , P a . — N e w B o n d s .—
T h e $ 4 8 0 ,0 0 0 1 s t M . g o l d b o n d s o f f e r e d in e x c h a n g e f o r t h e
$ 1 5 0 ,0 0 0 s t o c k o f t h e N o r r i s t o w n G a s C o . a r c d a t e d J u n e 1
1 9 1 0 , w ill m a t u r e J u n e 1 1 9 6 0 , a r e c a l l a b l e a t a n y i n t . d a t e
a t 105 a n d in t . o n 6 m o n t h s ’ n o t ic e , a n d b e a r 4 % in t. fo r 5
y e a r s , th e r e a ft e r 5 % : fr e e o f S ta t e t a x . F u r th e r p a r t ic u la r s
T h e p r o p e r ty o f th e N o rristo w n G as C o. w as leased fo r 60 yea rs fro m
Ju n e 1 1800 to the G as C o m p a n y o f M o n tg o m e ry C o u n ty , the rental b ein g
8 % fo r llrst 5 yea rs, 0 % fo r the n e x t 5 years and 1 0 % th ereafter. T h e Gas
C om p a n y o f M o n tg o m e ry C o u n ty Is co n tro lle d b y Jo h n D . M c llh e n n y , an d
u n d er the term s o f his o ile r o f M ay 0 1010 the h o ld e r o f each $25 share o f
th e N orristow n G as C o. receives In e x ch a n g e a b o n d fo r 580 secu red b y a
m ortg a ge u p on all o f th e p ro p e rty and franchises o f th e tw o gas co m p a n ie s
m erged in to on e, also u p o n the en tire c a p ita l s to c k o f the N orristow n
E le c tr ic E ight & P ow er C o. an d the N orristow n S team H eat C o ., t o be
p led ged w ith th e m o rtg a g e trustees. O n o r a b o u t Ju n e 15 1910 the ca p ita l
to c k was Increased from $250,000 to $ 6 0 0 ,0 0 0 .— V . 91, p. 874.
G e n e v a - S e n e c a E l e c t r i c C o . , G e n e v a , N . Y . — N e iv B o n d s .—
T h e l \ S . C o m m i s s i o n , 2 d D i s t . , s o m e t im e a g o a u t h o r i z e d
t h e m a k i n g o f a n e w m t g e . t o s e c u r e n o t o v e r $ 5 0 0 ,0 0 0
3 0 - y e a r 5 % s in k i n g f u n d g o l d b o n d s , t h e p r e s e n t i s s u e t o b e
$ 3 4 1 ,1 2 5 , a s f o l l o w s : $ 1 0 0 ,0 0 0 t o r e f u n d e x i s t i n g b o n d s o f
S e n e c a E d i s o n C o . a n d G e n e v a P o w e r & L i g h t C o . ; $ 1 0 2 ,9 0 0
to p a y o t h e r b o n d s a n d d e b t s , $ 7 5 ,0 0 0 fo r a d d it io n s a n d $ 1 5 ,
0 0 0 fo r w o r k in g c a p ita l.
I n c o r p . In Jan . 1907 as a c o n s o lid a tio n o f 'G e n e v a P o w e r & L ig h t C o.
an d Sen eca E d ison C o. C o n tro lle d b y G eneral E le ctric C o. Interests.
Is
b u ild in g a 1,000 h . p . p ow e r p la n t, w h ich w ill tra n sm it e le c tr ic ity to W a te r
lo o a n d S en eca.
A u th . c a p . s to c k , $5 0 ,0 0 0 .
P re s ., A . H . J a c k s o n ,
S ch e n e cta d y ; S e c ., H . M . F ra n cis, N . Y . C ity.
G r e a t E a s t e r n T e l e p h o n e C o . — D e c i s i o n .— T h e A p p e lla t e
D iv is io n o f t h e S u p r e m e C o u r t , F ir s t D iv is io n , o n N o v . 2 5
a f f i r m e d t h e d e c i s i o n o f t h e l o w e r c o u r t in d e n y i n j
he a p
p l i c a t i o n o f t h e N e w Y o r k E l e c t r i c L in e s C o . f o r a m a n d a
m u s to c o m p e l th e E m p ir e C it y S u b w a y C o . to g r a n t s p a c e
in i t s c o n d u i t s f o r t h e p l a i n t i f f 's w ir e s .
It Is held th a t th e p erm ission gra n ted in 1883 b y th e H oard o f A ld e rm e n
t o use the c it y streets did n o t at a n y tim e a m o u n t t o a fra n c h is e ,a n d th a t,
sin ce the con sen t has been r e v o k e d ,t h e pla ln tllf has n o such law ful " p o w e r "
t o o p era te as en titles it to a w rit. C o m p a re V . 83, p . 1173; V . 84, p . 130 9.—
V . 88, p. 825.
G r e e le y S q u a r e R e a l t y C o ., N e w Y o r k . — R e fu n d in g M o r t
c o m p a n y , c o n t r o lle d b y th e H u d s o n (t u n n e l)
C o m p a n ie s , h a s m a d e a r e fu n d in g m o r t g a g e t o th e T it le
G u a r a n t e e & T r u s t C o . , a s t r u s t e e , t o s e c u r e a n is s u e o f
$ 1 0 , 0 0 0 ,0 0 0 b o n d s d a t e d O c t . 1 1 9 1 0 a n d d u e O c t . 1 1 9 2 0
( i n t . A . & O . ) , o f w h ic h $ 3 , 5 0 0 ,0 0 0 h a s b e e n is s u e d t o t a k e
u p t h e p r e s e n t $ 3 , 5 0 0 ,0 0 0 t h i r d m o r t g a g e m a d e in A p r i l 1 9 0 9 .
T h e r e m a in d e r o f t h e n e w b o n d is s u e is r e s e r v e d t o r e t i r e t h e
$ 3 , 0 0 0 ,0 0 0 I I u d s o n - M a n h a t t a n R e a l t y m o r t g a g e d u e J u l y 1
1 91 1 a n d t h e $ 3 , 5 0 0 ,0 0 0 G r e e l e y S q u a r e R e a l t y C o . b u i l d i n g
lo a n m a d e A p r il 23 1 9 0 9 .
S e e a ls o V . 9 0 , p . 161 6 .
g a g e .— T h i s
G u a n a ju a to
P ow er
&
E le c tr ic
C o .,
C o lo r a d o S p r i n g s .—
M e x ic o L ig h t &
E a r n i n g s — G u a r a n te e d B o n d s . — S e e C e n t r a l
P o w e r C o . a b o v e .— V . 9 1 , p . 2 1 7 .
H e n d e e M fg . C o . (In d ia n M o to r C y c le s ), S p r in g fie ld , M a s s .
— P r e f . S to c k O f f e r e d . — T h o m a s C . P e r k i n s , H a r t f o r d , C o n n . ,
is o lT e r in g a t $ 1 1 0 a s h a r e ( p a r $ 1 0 0 ) , n e t t i n g 6 . 3 6 % i n c o m e ,
a b lo c k o f th e 7 % c u m u la t iv e c o n v e r t ib le p r e f. s t o c k o f
th is m a n u fa c t u r e r o f “ I n d ia n ” m o t o r c y c l e s .
D iv s Q . - F .
B usiness established In 1902.
In c o r p o r a te d as n o w In M assachusetts
J a n . 26 1910 w ith $ 2 ,0 0 0 ,0 0 0 c o m m o n s to c k (all o w n e d b y Pres. H en dee
an d associates) and $ 6 0 0,00 0 p re f. s t o c k . E m p lo y s fro m 700 t o 800 h an ds.
A n n u a l Output anil N et E a rn in g s— Y ears ending A u g . 31 (1910-11 lis t.)
1907-08.
1908-09.
1909-10.
1910-11
O u tp u t o f m o to r c y c le s , N o _____
3,257
4,063
6,500
10,000
N et ea rn in gs-------- --------------------------515 5,00 0
5250,000 $335,000 $45 0,00 0
R ep air business alon e fo r season 1911 a m ou n ted to o v er $ 20 0,00 0.
T h is p ref. sto ck Is p referred as t o assets as w ell as d ivid en d s, Is cu m u la tiv e ,
an d Is co n v e rtib le Into c o m m o n sto ck at th e o p tio n o f the h old er at a n y
tim e . It Is also ca lla b le at 125 an d accru ed d l v ., b u t If ca lled m a y , w ithin
30 d a y s, be co n v e rte d Into c o m m o n at o p tio n o f holder.
Assets A u g . 31 1910: Cash, $ 54 ,691 ; a cco u n ts receiv a b le, $12 8,59 0;
m erch an dise, $ 46 8,83 9; real estate. $ 23 0,75 0; m a ch in ery, $22 8 ,5 6 1 ; totai
assets, $1 ,1 1 1 ,4 3 1 ; to ta l liabilities d u el. m tg e . o f $50 ,000 to be retired , & c .),$16 8,11 5; net w o rth , $ 94 3,31 6, again st pref. s to ck o f $60 0,00 0.
b ire cto rs : Pres. G eorge M . H en d ee, V Ice-P rcs. O scar llc d s t r o m , T rea s.
F ran k J. W Isch ler, W . E . G ilbert (T reas. U nion T ru st C o. S prin gfield) an d
E dw iti A .C a r t e r ,a ll o f S p rin gfield , a n d W illiam B .T h o m p s o n ,o f N ew Y o rk .
H oboken
(N . J .) L a n d & I m p r o v e m e n t C o .— B o n d s f o r
<fcc.— T h i s c o m p a n y , w h ic h o n N o v . 1 p a i d it s
$ 1 , 5 0 0 ,0 0 0 J st M . 5 % b o n d s , h a s fi l e d f o r r e c o r d its n e w
$ 2 , 0 0 0 ,0 0 0 1 s t M . , t h e H u d s o n T r u s t C o . o f H o b o k e n b e i n g
th e tru s te e .
R e fu n d in g ,
T h e m ortg a g e, It Is sta ted , co v e rs th e lands o n w hich are erected th e
piers o f th e Ilo lla n d -A m e rlca n L in e, P h o e n ix L in e, W ilson L in e, S ca n d ln avtan -A m erlcan L in e, C on solid a tion C oal C o. a n d th e buildin gs o f th e
C a m p bell S tores, A tk in son B u ild in g, W . & A . F letch er sh op s. In tern a tion a l
E le ctric C o ., W e ch a w k cn C ov e p ro p e rty , th e W a sh in g ton S treet fiats an d
th e B loom field S t. ap a rtm en t h ou ses.
E . A . S tev en is P resid en t. C om
p are V . 91, p, 279.
H u d s o n C o u n t y W a t e r C o . — R e o r g a n iz a ti o n P l a n . — T h e
r e o r g a n i z a t i o n c o m m i t t e e ( o f w h ic h T u r n e r A . B e a l l , t h e
P r e s i d e n t o f t h e c o m p a n y , is S e c r e t a r y , a c t i n g u n d e r b o n d
h o l d e r s a g r e e m e n t o f M a y 18 1 9 1 0 , a n n o u n c e d o n D e c . 17
t h a t i t h a d a d o p t e d a n d file d w i t h t h e F i d e l i t y T r u s t C o . o f
N e w a r k , N . J ., a s d e p o s i t o r y ) , a n d w ith th e T r u s t C o . o f
A m e r ic a , N . Y . C it y , a s a g e n t o f th e d e p o s it o r y , a r e p o r t a n d
p la n fo r th e r e o r g a n iz a t io n o f th e c o m p a n y a n d th e p r o t e c
t io n o f th e b o n d h o ld e r s .
(C o m p a re N . Y . & N ew J e rs e y
W a t e r C o . in V . 9 1 , p . 3 4 0 . )
“
H u r o n ( O . ) S t e e l & I r o n C o . — S a l e . — T h e c o m p a n y ’s p l a n t
h a v in g b e e n s o ld t o th e A s s e ts R e a liz a t io n C o ., t h e G a le s b u r g
C o u l t e r D i s k C o . , w h i c h h a s b e e n o p e r a t i n g t h i s p l a n t , w ill
i t is s a i d , b u i l d a n e w m o d e r n o p e n - h e a r t h s te e l p l a n t , p r o b
a b ly a t s o m e p o in t a r o u n d C h ic a g o t o b e d e c id e d u p o n
w ith in a m o n t h .— V . 9 0 , p . 1 2 4 2 .
I n t e r n a t i o n a l C o t t o n M ills C o r p o r a t i o n . — F i r s t D i v i d e n d . —
A n i n i t ia l q u a r t e r l y d i v i d e n d o f 1 % % h a s b e e n d e c l a r e d o n
th e p r e fe r r e d s t o c k , p a y a b le J a n . 3 t o h o ld e r s o f r e c o r d D e c .
3 1 .— V . 9 1 , p . 4 6 7 .
*
I n t e r n a t i o n a l H a r v e s t e r C o . — B o n u s , & c . , to E m p l o y e e s . —
T h e c o m p a n y a n n o u n c e s t h a t i t w ill in t h e n e a r f u t u r e d i s
t r i b u t e a b o u t $ 5 5 0 ,0 0 0 c a s h a s a b o n u s t o e s p e c i a l l y m e r i
t o r io u s e m p lo y e e s .
E m p loy ees w ill also be p erm itted to su b scrib e fo r s to ck a t $115 per share
fo r the p ref. an d $100 per share fo r th e c o m m o n , t o an a m o u n t n o t e x c e e d
in g their ann ual salaries or w ages, an d o f p a y in g th erefor in m o n th ly in
stallm en ts n ot e x ce e d in g 2 5 % o f each m o n t h ’s salary o r w ages. In a d d i
tio n t o th e regu lar d iv id e n d s, this sto ck receives, it is said, an ann u al bon u s
o f $4 a share on th e p ref. and $3 o n th e co m m o n a n n u a lly fo r fiv e y ea rs.
L ast yea r a b o u t 4,400 em p loy ees su b scrib ed fo r 17,684 shares o f p re f. a t
$115 an d fo r 16,410 shares o f c o m m o n a t $73 (V . 90. p . 1100) — V 91 d
1098.
,
I n t o r -S ta t e I n d e p e n d e n t T e le p h o n e & T e le g r a p h C o .,
J o l i e t , & c . , 111.— In te r e s t P a y m e n t . — T h e r e c e i v e r o n o r a b o u t
D e c . 2 9 d e p o s i t e d in t h e C o n t in e n t a l & C o m m e r c ia l T r u s t
& S a v i n g s B a n k , C h i c a g o , t h e fu n d s t o c o v e r t h e s i x m o n t h s ’
i n t e r e s t d u e l a s t O c t o b e r o n $ 2 , 3 9 0 ,0 0 0 o u t s t a n d i n g b o n d s .
P a y m e n t is b e i n g m a d e in N . Y . C i t y a t 1 s t N a t . B a n k .
C om p a re V . 9 1, p . 1713, 1516.
I n t e r - S t a t e P o w e r C o ., E lb e r t o n , G a .— B o n d s .— A m o r t
g a g e w a s r e c e n t l y file d t o t h e C a r n e g i e T r u s t C o . o f N . Y . ,
a s tr u s te e , t o s e c u r e n o t e x c e e d in g $ 5 ,0 0 0 ,0 0 0 b o n d s .
T h e G eorgia R a ilro a d C om m ission on O ct. 20 1909 a p p ro v e d th e Issuing
o f $ 5 ,0 0 0 ,0 0 0 each o f s to c k a n d b o n d s.
In c o n n e ctio n w ith p ro p o se d
h y d r o -e le ctr ic d e v e lo p m e n ts on the S a v a n n a h R iv e r near E lb e rto n , G a ..
<Sce. T h e c o m p a n y w as In corp ora ted In G eorgia on o r a b o u t Ju n e 1 1 90 9,
w ith ca p ita l s to ck o f $ 3 ,0 0 0 ,0 0 0 , b y J . J . S p a ld in g o f K in g & S p a ld in g , o f
A tla n ta , G a ., T h om a s J . B row n , o f E lb e rto n , an d E. M arvin o f U n d er
w o o d , G a.
It Is said th a t the c o m p a n y has a cq u ire d th e p r o p e r t y o f the
S a v an n ah R iv e r P o w e r C o.
I r o q u o is I r o n C o ., C h ic a g o .— T h e d ir e c t o r s h a v e d e c la r e d
a s t o c k d i v i d e n d o f 6 6 2 - 3 % o n t h e $ 3 , 0 0 0 ,0 0 0 s t o c k , i n
c r e a s i n g s a m e t o $ 5 , 0 0 0 ,0 0 0 .
A n o fficia l o f th e c o m p a n y says th a t o n ly part o f th e new s t o c k ropresents
th e co s t o f th e new plan t at 94th S t. an d L a k e M ich iga n , th a t has been
u nd er co n stru ctio n fo r 6 m on th s, th e greater p a rt bein g In vestm en ts In
Iron ore p rop erties, th e co n tra cts fo r th e p u rch a se o f s o m e o f w h ich h a v e
n o t been clo se d .
W h en all th e p ro p e rty has been a cq u ire d , th e c o m p a n y ,
It Is sta te d , w ill h a v e an ore s u p p ly fo r a t least 30 years a h e a d .— V . 90,
p . 112,55.
I s a b e l l a - C o n n e l l s v i l l e C o k e C o . — O n P i t ts b u r g h U n l i s t e d . —
T h e s to c k a n d b o n d s w ere r e c e n t ly a d m it t e d t o q u o t a t io n
in t h e u n li s t e d d e p a r t m e n t o f t h e P i t t s b u r g h S t o c k E x c h a n g e .
T h e “ P it ts b u r g h D is p a t c h ” o f N o v . 2 2 s a id :
T h e c o m p a n y ’s ca p ita l stock Is $ 5 ,0 0 0 ,0 0 0 , all o f o n e class (par o f sh are,
$ 1 0 0 ), and there Is an a u th orized Issue o f $ 8 ,0 0 0 ,0 0 0 3 0 -y ea r b o n d s, d a ted
A p ril 1 1909. T h e b on d s are held as fo llo w s: $ 2 ,4 8 5 ,0 0 0 b y th e C olon ial
T ru st C o ., as trustee, as collateral u nd er a n o te Issue o f $ 2 ,8 4 5 ,0 0 0 ; $ 3 ,
514 ,000 In the hand-; o f th e p u b lic: $1,000 In th e treasu ry and $ 2 ,0 0 0 ,0 0 0
held b y trustees and reserved for b etterm en ts. T h e in itial b id fo r th e s to ck
w as 2 5 \4 an d th e b on d s w ere offered a t 9 5 'A.
T h e c o m p a n y w as In corp ora ted In 1909 in W e st V irgin ia .
It ow n s 3,0 0 0
acres o f c o k in g co a l lands in th e C on n cllsvllle d istrict, and plans t o p ro d u ce
1 ,600,000 ton s o f c o k e per a n n u m . J oh n C. B ry d o n o f P ittsb u rg h Is Presi
d e n t and th e general o ffice s are In P ittsb u rg h . C om p a re V . 88, p . 1316.
Jackson
C o ., N a s h u a , N . H . — S a l e .— S e e N a s h u a M fg . C o .
S . K a r p e n B r o s . , C h i c a g o . — O f fe r i n g o f G u a r a n te e d B o n d s
C o v e r in g K a r p e n B u i l d i n g .— T h e W e s t e r n T r u s t & S a v i n g s
B a n k ( t h e m o r t g a g e t r u s t e e ) a n d G e o . H . B u r r & C o . , C h i
c a g o , o ffe re d
fo r
s a le in D e c e m b e r
1910
$ 7 5 0 ,0 0 0
1 st
M . 5 % g o l d b o n d s i s s u e d b y t h is I l l i n o i s c o r p o r a t i o n a n d
s e c u r e d u p o n t h e le a s e h o l d e s t a t e a n d b u i l d i n g l o c a t e d a t
S . W . c o r n e r M i c h ig a n A v e . a n d E l d r e d g e P l a c e , C h i c a g o .
A d irect o b lig a tio n o f S. K arpen & B ro s., o n e o f th e largest m a n u fa ctu r
ers o f u p h olstered an d special fu rn itu re In th e U . S ., fo u n d etL in 1880 an d
h a v in g net assets o f o v e r $2 ,5 0 0 ,0 0 0 , and th e highest cre d it ra tin g . A lso
g u aran teed , p rin cipa l a n d Interest, b y S o lo m o n , O scar, A d o lp h , Isa a c,
M ich a el, W illia m a n d L e o p o ld K arpen , o w n in g th e en tire ca p ita l s to ck o f
S . K a rp en & B ro s., p led g in g th e p riv a te resources o f e v e ry s to ck h o ld e r
fo r th e p a y m e n t o f the b on d s and assuring th e p r o p e r ty th e high est grade
o f m a n a g em en t. A n d fu rth er a first m o rtg a g e o n a 1 2 -story , steel-fra m e,
firep roof store and o ffic e b u ildin g, co v e rin g a g rou n d area o f 30,924 s q . f t.
and co n ta in in g 2 88 ,500 sq. ft . o f net ren ta b le sp a ce.
E stim a ted gross In com e from bu ild in g, $22 4 ,0 0 0 ; net In com e (a fter
g rou n d ren t o f $30 ,0 0 0 , taxes, & c.), $ 1 3 3 ,6 0 0 , o r n early fo u r tim es th e
b o n d Interest ($ 3 7 ,5 0 0 ). A ctu a l leases fo r n early h a lf o f the ren ta b le sp ace
a lrea d y closed at h igh er rates th an this m in im u m sch ed u le.
N et Incom e o f
th e Issuing co rp o ra tio n and gu aran tors Is several tim es total Interest ch arges.
D escrip tion o j B on d s.— D ate D ec. 1 1910, d u e In annual installm en ts o n
D ec. 1 from 1912 to 1925, b oth In ch , $50 ,000 yea rly 1912 t o 1914 and
$ 1 0 0,00 0 D e c. 1 1915, but red eem able o n a n y Int. d a te a t 102 an d in t.
Int. J. & D .
Par $500 and 81 ,0 0 0 c*.
Total M ortgage S ecu rity, 51,9 5 2 ,9 2 2 ( Total Bonded D ebt, $ 7 5 0 ,0 0 0 ).
E q u it y In leasehold esta te, a ggregatin g 32,294 sq. f t. o f g rou n d
area (annual grou n d ren t $10 ,000 till A p ril 30 1911; th en $ 3 0 ,
000 till 1926; then $33 ,000 till 1936: th ereafter $ 3 5 ,0 0 0 )_____ $360,000
C o n stru ctio n c o s t o f b u ild in g (a r ch ite c t’s e stim ate, n e t ) .............. _ 1,592,922
S . K a rp en & B r o s ., as o f S e p t. 30 1910, r e p o rt net assets o f $ 2 ,5 8 7 ,0 4 1 ,
v iz .: R e a l estate: 187-188 M ichigan A v e ., $ 80 0,00 0: W o o d and Park
stre e ts, $ 41 ,016 ; K a rp e n B ld g ., $29 1 ,6 7 4 , and fa c to r y , 22d a n d U n ion
streets, $28 0 ,0 0 0 ; o th e r fixed assets, $ 10 1,53 4; cu rren t assets, less all lia
bilities, $ 34 1,33 7; o th e r assets, $23 1 ,4 8 1 .
K e y s t o n e C o a l & C o k e C o . — S a le o f B o n d s .— T h e r e p o r t
t h a t t h e c o m p a n y h a s s o ld t o D r e x e l & C o . a n d B r o w n
B r o t h e r s & C o . $ 5 , 0 0 0 ,0 0 0 1st M . s e r ia l 6 % b o n d s , p a y a b l e
in 2 0 y e a r s , a n d s e c u r e d b y 5 5 0 a c r e s o f c o a l l a n d s in W e s t
m o r e l a n d C o u n t y , P a . , a n d 3 0 0 a c r e s in W e s t V ir g i n i a , is
p ro n o u n ce d p re m a tu re .
T h e b o n d s w ill n o t b e is s u e d u n t il
s o m e t im e n e x t y e a r , a n d t h e a m o u n t o f t h e is s u e , it is s t a t e d ,
is s till u n c e r t a i n . — V . 9 0 , p . 14*28.
1774
T H E C H R O N IC LE
K ey ston e
N a tio n a l P o w d e r C o ., E m p o r iu m , P a .— N e w
c o m p a n y w a s in c o r p o r a te d s o m e m o n th s
a g o i n P e n n s y l v a n i a a n d a l m o s t i m m e d i a t e l y in c r e a s e d it s
s t o c k f r o m $ 1 0 0 ,0 0 0 t o $ 1 , 6 9 5 ,0 0 0 .
O n o r a b o u t A u g . 31
th e K e y s t o n e P o w d e r M fg . C o . o f E m p o r iu m w a s c o n s o li
d a te d w ith th e c o m p a n y , th e a u th o r iz e d c a p ita l s t o c k b e in g
in c r e a s e d t o $ 2 ,0 5 0 ,0 0 0 .
B o n d e d d e b t , if a n y , n o t s t a t e d .
E n t e r p r is e .— T h i s
D ire cto rs : Ju stu s v o n L en gerk e, O range, N . J .; E rn st D e tm o ld , N ew
Y o r k ; Joslah H o w a r d , Josep h K a y e , H e n ry A u ch u , E . VV. G asklll, A . G.
B lu m , J o h n T . H o w a r d , VV. H . H o w a rd , B . VV. G reen , all o f E m p o r iu m ,
P a .: T rea su rer, H . A . C o x , E m p o riu m .
A n a d v e r tis e m e n t sa y s:
F a cto rie s , K e y s to n e W o rk s and E m p o riu m W o r k s , E m p o r iu m , P a ..
S ln n a m a h on ln g W ork s, S in n am ah on ln g, P a . C a p a c ity , e ig h t ears per d a y ,
" P e r m is s ib le e x p los iv os ” : C ollier po w d e r b y S ln n a m a h o n ln g fa c t o r y ; co a l
sp ecial p ow d ers, b y K e y s to n e fa c to r y . H igh e x p lo s iv e s: A m m o n ia a n d n ltr o ,
g ly c e rin e d y n a m ites fo r earth , r o ck o r su bm arin e w o rk an d gelatln o d y n a
m ite fo r tunnel w ork . O v e r 11,000,000 lb s. o f d y n a m ite fu rn ish ed b y us
t o th e U n ited S tates G o v e rn m e n t fo r th e Isth m u s o f P a n a m a last years
P resen t c o n tr a c t w ith th e Isth m u s o f P a n a m a , 4 ,0 0 0 ,0 0 0 lb s. [T h e c o m
pan ies n ow Inclu ded In th e m erger are th e S ln n a m a h o n ln g (P a .) P o w d e r
M fg. C o ., th e E m p oriu m P o w d e r M fg. C o a n d th e K e y s to n e P o w d e r M fg .
C o. o f E m p o riu m . P a ., a n d th e N ation a l P o w d e r C o .. N . Y . C ity — Ed.I
L a c k a w a n n a B r i d g e C o . , B u f f a l o . — S t a t u s .— B . L . W o r d e n
P r e s id e n t o f th e W o r d e n -A lie n C o ., c o n s u lt in g a n d c o n t r a c t
i n g e n g i n e e r s a n d m a n u f a c t u r e r s o f s t e e l s t r u c t u r e s , M il
w a u k e e , W is ., w r o te :
T h e L a ck a w a n n a B rid g e C o . has no b o n d s o u tsta n d in g ; Its s to c k s are h eld
b y this c o m p a n y an d In dividu als Interested w ith us, an d th e L a ck a w a n n a
Steel C o. has no s to c k Interest In th e brid ge c o m p a n y . C o m p a re V . 00, p .9 8 0 .
L a k e S u p e r i o r I r o n & C h e m ic a l C o . — O f fe r i n g o f B o n d s i n
B a n k o f S c o t la n d a n d T h e C a n a d ia n B a n k o f
C o m m e r c e m N o v e m b e r la s t r e c e iv e d f o r th e o w n e r s a p p lic a
t io n s a t p a r f o r £ 6 1 6 ,4 2 0 b o n d s , b e in g th e a p p r o x im a t e
e q u i v a l e n t a t 4 8 6 2 -3 o f $ 3 , 0 0 0 ,0 0 0 6 % 1 s t M . g o l d b o n d s ,
p a r t o f t h e is s u e o f $ 6 , 5 0 0 ,0 0 0 , d a t e d J u l y 1 1 9 1 0 a n d d u e
J u l y 1 1 9 3 5 , b u t r e d e e m a b l e in a n y a m o u n t s a t 1 1 0 o n a n y
in te r e s t d a y .
T h e E n g l i s h p r o s p e c t u s s a y s in s u b s t a n c e :
L o n d o n .— T h e
D e n om in a tion s £ 2 0 0 , £ 1 0 0 an d £ 2 0 , an d $ 1 ,0 0 0 , $500 an d $10 0, Inter
ch a n g e a b le a t o ffic e o f tru stee, U nion T ru s t C o . o f D e tr o it, at th e rate o f
$4 86 2-3 per £ 1 , fra ctio n s to be a d ju s te d In scrip .
In terest J. & J . In
sterlin g a t C a n adian B ank o f C o m m e rce . L o n d o n , o r In T o r o n t o at $4 86 2-3
t o th e £ .
C u m . sin k in g fu n d o f 2 % p er a n . w ill be g in J u ly 1 1913.
C a pitaliza tion —
A u th orized . N ow Issu ed .
$10 ,0 0 0 ,0 0 0
$ 6 ,500,000
6 % b o n d s (2 5 -y e a r )____________________
7 % cu m u la tiv e preferred s t o c k ---------------------------------1 ,625,000
1,625,000
C o m m o n s t o c k ________________________________________ 1 0,000,000
8 ,3 7 5 ,0 0 0
(T h e p ref. s t o c k Is c o n v e r tib le Into c o m m o n s to c k at the h o ld e r’s o p tio n
an d $ 1 ,6 2 5 ,0 0 0 c o m m o n s to c k Is retain ed unissued fo r such c o n v e rs io n .)
T h e b on d s are a first ch a rg e u p o n th e lands, plan t, u n d e rta k in g and o th e r
p r o p e r ty as sp ecified : $ 6 ,5 0 0 ,0 0 0 (Inch th e $ 3 ,0 0 0 ,0 0 0 n ow offered) h a ve
been Issued In part p a y m e n t fo r th e p roperties and fo r bu ild in g new ch e m ica l
pla n ts an d p r o v id in g w o rk in g ca p ita l: an d the balan ce, v iz ., $3 ,5 0 0 ,0 0 0 ,
are held In th e treasury again st future req u irem en ts, and ca n o n ly be issued
fo r th e a cq u is ition o f new properties to th e e x te n t o f 8 0 % o f their app ra ised
v a lu e .
O f said $ 6 ,5 0 0 ,0 0 0 , $ 3 ,500,000 has been so ld in th e U . S-. an d
$ 3 ,0 0 0 ,0 0 0 (£ 6 1 6 ,4 2 0 ) is n ow ottered fo r sale, $ 2 ,0 0 0 ,0 0 0 (say £ 4 0 0 ,0 0 0 ) o f
w h ich has a lre a d y been ap p lie d fo r In E n gla n d an d C anada.
f V o L . lx x x ;. i
D irecto rs.— P r e s id e n t J o h n J o y c e , B o s to n , d ir e cto r Sh a w in igan W a te r &
P o w e r C o .; V ice -P re s . & G en. M gr. W . II. M a tth e w s, G eorge H . R u ssell
an d F. W . B lair, all o f D e tro it; F. M. H arrison (P res. U . S. In du strial
A lc o h o l C o .) and A lv in U n te rm y e r, N ew Y o r k ; T h o m a s M c D o u g a ll,
Q u e b e c; l i o n . W illia m G . S h a rp , E ly ria , O .; I I . II. M elv ille, B o s to n : H on .
W m . A . C h arlton , T o r o n t o : M . C o ch ra n e A r m o u r , C h ica g o , o f R o g e rs ,
B ro w n & C o .— V . 91, p . 156, 97, 41.
L a n c a s t e r ( P a . ) G a s L i g h t & F u e l C o . — S t o c k I n c r e a s e d .—
T h i s P e n n s y l v a n i a c o r p o r a t i o n h a s in c r e a s e d it s c a p i t a l s t o c k
f r o m $ 4 5 0 ,0 0 0 t o $ 5 5 0 ,0 0 0 ( p a r $ 5 0 ) .
T h e c o m p a n y is c o n
t r o lle d b y L a n c a s te r C o u n t y l t y . & L t . C o .— V . 8 2 , p . 1 0 3 .
L e x in g to n
( K y . ) W a t e r W o r k s C o .— F a v o r a b le D e c is io n
C o u rt o f A p p e a ls o f K e n tu c k y o n B e e . 9
a ffir m e d th e d e c is io n o f th e lo w e r C o u r t u p h o ld in g th e p r o
v i s i o n o f t h e o r i g in a l c o n t r a c t w i t h t h e c i t y , r e n e w i n g t h e
s a m e f o r a t e r m o f 2 5 y e a r s o n f a il u r e o f t h e c i t y t o e x e r c i s e
t h e o p t i o n t o p u r c h a s e t h e p l a n t a t t h e e n d o f firs t 2 5 y e a r s .
A f f i r m e d .— T h e
T h e C ou rt h olds th a t S ection s 164 an d 167 o f tlxe n ew C o n stitu tio n d o n o t
a p p ly , as th e latter w as a d o p te d a fte r the c o n t r a c t w as en te re d Into an d no
law c a n a b ro g a te a c o n tr a c t a lre a d y p a r tly e x e c u t e d . C om p a ro V . 9 1 ,p .3 9 9 .
L o n g B e a c h ( C a l .) C o n s o l i d a t e d G a s C o .— O f fe r i n g o f B o n d s
bg S o u . C a l . E d i s o n C o . — E . H . R o l l i n s
& S o n s , N . Y . , C h ic a g o , B o s t o n , D e n v e r a n d S a n F r a n ., a re
o f f e r i n g a t p a r a n d i n t . t h e u n s o l d p o r t i o n o f $ 3 0 0 ,0 0 0 1 s t M .
6 % g o l d b o n d s ( t a x - e x e m p t in C a l . ) , d a t e d N o v . 1 1 9 1 0 a n d
d u e N o v . 1 1 9 1 0 , b u t r e d e e m a b le a t 103 a n d in t . o n o r a fte r
N ov . 1 1913.
I n t . M . & N . a t L o s A n g e le s T r u s t & S a v in g s
B a n k , th e tr u s te e , L o s A n g e le s , o r th e B a n k e rs T r u s t C o .
in N . Y .
P a r $ 1 ,0 0 0 ( c * j .
— C o r n p a n g C o n tr o lle d
Abstract of Letter from Pres. P. E. Hatch, L ong Reach, Cal., Dec. 15 1910.
I n c o r p . In Cal. In 1910, a co n s o lid a tio n o f th e gas pro p e rtie s o f th e S o u t h
ern C a liforn ia E d iso n C o. and the L o n g B ea ch In n er H a rb o r Gas C o ., lo
c a te d in the c it y o f L o n g B e a ch . E x clu s iv e ly furnishes gas fo r illu m in a t
ing an d fuel p u rposes to a p o p u la tio n o f 17,809 (1910 c e n s u s ).
C a pitaliza tion— P referred s to c k a u th ., $50 0 ,0 0 0 ; Issued
______$85 ,000
C o m m o n s to c k a u th ., $ 1 ,0 0 0 ,0 0 0 ; issued
6 75 ,000
F irst m tg e . 6s, a u th ., $1,0 0 0 ,0 0 0 ; Issued
. . . 3 0 0 ,0 0 0
A n n u a l cash sin k in g fu n d , b e g in n in g N o v . 1 1911, an a m o u n t e q u a l t o
1% o f the b o n d s o u ts ta n d in g ; also an a d d itio n a l 1% y e a r ly begin n in g N o v . 1
1915 fo r p erm an en t e x te n sio n s o r a d d itio n s , o r fo r pu rch ase of b o n d s, as
th e c o m p a n y m a y e le ct.
F or the y ear e n d in g S e p t. 30 1910 (p rio r to c o n s o lid a tio n ) the gross earn
ings w ere $13 7,22 7 and the net earnings (a fte r o p e ra tin g e x p . anti taxes)
w ere $ 3 9 ,9 4 4 . E stim ates fo r y ear 1911: G ross, $15 7 ,0 0 0 ; net, $ 5 5 ,0 0 0 .
T h e p r o p e r ty , w ith o u t allo w a n ce fo r fra n ch ise o r g o o d -w ill, Is ap p ra ised
at $42 5 ,0 0 0 , Inclu din g 5.86 acres o f land; plants fo r m a n u fa ctu re o f gas
fro m o il, c a p a c it y 500,000 c u . ft. d a lly ; three h old ers, co m b in e d c a p a c it y
120,000 c u . f t ., an d 8 1 1-3 m iles o f m ains, to w hich w ill s h o r tly be a d d e d
a fo u rth h o ld e r ,c a p a c it y o f 500 ,0 0 0 c u . ft. and o v e r 2 'A m iles o f a d d itio n a l
m ain s.
D u rin g the year 1909-10 6,898 con su m ers w ere su p p lied w ith
1 19 ,791 ,30 0 c u . ft. o f gas at $1 15 per 1,000 c u . f t. T h e c o n tr o l o f th e
c o m p a n y , th ro u gh a m a jo rity o w n ersh ip o f its o u ts ta n d in g c a p ita l s t o c k ,
w ill be v e s te d in the S o u th e rn C a liforn ia E d iso n C o . S ec V . 91, p . 399 .
M a n it o w o c ( W is .) W a t o r W o r k s C o .— P ro p o sed P u rch a se
bg C i t y . — S e c “ M a n i t o w o c , W i s , " , in “ S t a t e a n d C i t y ” D e p t .
A bstract of Letter from Vicc-Pres. & Gen. Mgr. W . H. M atthews, Detroit,
•
Sept. 19 1910.
M a r i o n ( I n i . 1) L i g h t & H e a t i n g G o .— B o n d s O f f e r e d .—
• O rga n ized in N . V . S ta te J u ly 1 1910 to su cce e d th e Lake S u p e rio r Iro n &
C o g z e s h a ll &
H ic k s ,
N . Y .,
r e c e n t ly o ffe r e d fo r
s a le
C h em ical C o. o f M ich ., a successful m a n u fa ctu re r o f c h a rco a l p ig -iro n , w ith
a b lo c k o f 5 %
“ f ir s t a n d r e f u n d i n g m t g e . ” s in k i n g f u n d
w o o 1-alcohol an d a ceta te o f lim e as b y -p r o d u c ts . T h e w in d in g up o f an
esta te will h c o n tr o lle d the m a jo rity s to c k o f the M ich igan c o m p a n y g a v e
g o ld b o n d s , g u a r a n te e d p r in c ip a l a n d in t e r e s t b y A m e r ic a n
an o p p o r tu n ity fo r a s so cia tin g w ith the m an agem en t s tro n g new Interests
G a s & E le c t r ic C o .
D a te d 1907 a n d d u e S e p t. 1 1932; re
c o n n e c te d w ith th e w o o l-a lco h o i an l p ig -iro n trade, a n d It w as d e cid e d to
p u t th e busin :ss u p o n a m o d e rn basis, th e re b y o b ta in in g great a d d itio n a l
d e e m a b le a t 119 a n d in t. o n S e p t . 1 1 91 2 o r o n a n y in t . d a te
p rofits from w o o l-a ;o o h o l an d a ce ta te o f lim e. T h e assets o f th e o ld c o m
th e r e a fte r .
P a r $ 1 ,0 0 0 ( c * ) .
I n t . M . & S . in N . Y . S t a n d
p a n y h a v e been a cq u ire d free fro m all e n cu m b ra n ce s , an d p r o v is io n has been
m a d e In fin a n cin g the new c o m n a n y fo r $ 1 ,0 0 0 ,0 0 0 t o b e used in r c -b u lld ln g
a r d T r u s t C o . o f N e w Y o r k , t r u s t e e ’.
T h e fir m r e p o r t s :
the ch a r c o a l an d ch em ica l plants and $ 1 ,6 7 5 ,0 0 0 fo r a cash w o rk in g c a p ita l.
E a rn ings f o r M on th o f S eptem ber and 12 M onths ending S ept. 30.
• fjg •
P rop erties A cqu ired and S u p p ly o f R iw M aterials.
1) S ix c h a r c o a l p ig -iro n fu rn a ce s, 4 w ith ch e m ica l an d ch a rco a l plan ts, t
----- Septem ber--------------------12 M o n th s-------• w ith sm all c h a rcoa l c a p iclt y , 1 w ith lo n g -te rm c o n tr a c t fo r c h a rco a l.
1910.
1909.
1910.
1909.
P ig -ir o n c a p a c it y 198,000 ton s per an n u m .
G ross I n c o m e ________
$14 ,554
$12 ,4 8 3
$179,581 $157,418
(2) 137,551 a c r e ; o f h a r d -w o o d land In fee (111,671 a crc3 virglti f o r e s t ),a n d
N et In c o m e ___________________________
7,713
7,2 1 9
96,847
90,862
c o n tr a c ts c o v e r in g th e c o r d -w o o d o n 190,230 a d d itio n a l acres, assures the
In terest o n b o n d s _____________ _____
1,958
____
23,500
_______
c o m p a n y a full s u p p ly o f c o r d -w o o d fo r at least 30 years.
O ur p o lic y ,
Surplus o v e r flxed c h a r g e s __________
5,7 5 5
73,347
--------h o w e v e r, is t > m a k e stu m p a g e c o n tra cts w ith o u ts id e parties an d t o hold
Abstract of Letter from Vice-President R. E. Breed, May 10 1910.
in ta c t th e sta n d in g tim ber', w h ich has g reat p r o s p e c tiv e va lu e as lu m ber.
(3) 47 m iles o f sta n d a rd -g a u g e railw ay, w ith 90 ca rs, 11 lo co m o tiv e s , s to c k
T h e o n ly c o m p a n y d oin g a c o m m e rcia l e le ctric ligh tin g, p o w e r an d h eatin g
cars, b oa rd in g ca rs, & c. T h is railw ay leads fro m tw o tra n s-co n tin e n ta l
business In M arlon [In co r p o r a te d In In d ia n a In 1902],
lines a n d en ab les th e c o m p a n y to o p e ra te th e w o o d la n d s In c o n n e c tio n
C a pitaliza tion—
■ w ith th e va riou s plants m o st e c o n o m ic a lly .
P ref. s t o c k — a u t h ., $ 6 0 0,00 0 [6 % c u m ., par $100]: o u t s t a n d in g .- $10 0,00 0
(4) L o n g lease o f th e Y a le Ir o n M ine, w h ich has n o w b lo c k e d o u t som e
C o m m o n s to c k [par o f shares $100], a u th . an d o u t s t a n d in g ---------- 300 ,000
800 ,0 0 0 ton s o f ore, w ith a large a d d itio n a l a m o u n t still u n d e v e lo p e d . "F ir s t an d r e f . M .” 5?o s. f. b o n d s, a u t h ., $ 1 ,5 0 0 ,0 0 0 ; o u ts ta n d in g 447 ,000
A ls o a n oth er o n ly p a rtia lly d e v e lo p e d m in e.
R e se rv e d t o retire u n d e rly in g b o n d s --------------------------------------------------30,000
T o bo Issued In e x c h a n g e fo r u n d e rly in g b o n d s a c q u ir e d .................
23,000
In d epen d en t V a lu a tion , $ 5 ,9 7 7 ,4 3 5 , with $ 2 ,6 7 5 ,0 0 0 N ew Cash f o r Im proveR e se rv e d fo r fu tu re e x te n s io n s , & c. (see b e lo w ) -------$1,0 0 0 ,0 0 0
■
m eats and W orkin g C apital.
F u rn aces an d e q u ip m e n t .$1,31.3,720 R a ilw a y an d e q u i p m e n t .. $265,069
T h ese b on d s are, In th e o p in io n o f co u n se l, a first m o rtg a g e on th e entire
C h em ical plants & e q u lp ’ t
619 ,186 L u m b e r ca m p s & e q u ip ’ t .
145,411
p ro p e r ty , s u b je c t to $30 ,0 0 0 u n d e rly in g b o n d s, w h ich m atu re $8,0 0 0
Y a le M ines (p rofits, ore
N ew M o n e y P rovid ed —
Ja n . 1 an d $7,000 J u ly l o f each y e a r till J a n . 1 1912.
O f the b on d s
b lo c k e d o u t ) ____________
825 ,830 Cash t o re m o d e l ch em ica l
$1,0 0 0 ,0 0 0 are reserved to reim bu rse th e c o m p a n y fo r n o t e x ce e d in g 8 0 %
W o o d -la n d s , o w n e d In fee 2,6 6 2 ,5 3 9
p l a n t s ___________________ 1,000,000
o f the c o s t o f fu tu re e x te n sio n s an d Im p ro v e m e n ts, w hen the net earnings
S t u m p .c o n tra cts ’a d v .p a y .
145,680 W o r k in g c a p ita l (c a s h )___ 1,675,000
fo r th e p re ce d in g 12 m o s. shall h a v e been tw ice the interest ch arge, in clu d in g
It Is p r o p o s e d th a t th e fo u r kiln plants n o w in use shall be at o n c e re -b u ilt
th e bon d ap p lie d fo r.
A n n u a l sin k in g fu n d , 1% o f total b o n d s o u ts ta n d in g
an d re -m o d e le d and a c o m p le te new plan t bu ilt a t C h o co la y . A t the new
S e p t. 1 1912 to S e p t. 1 1918, 1 A % S e p t. 1 1918 to S e p t. 1 1924, 2 %
p lan ts there sh ou ld be p ro cu re d betw een 10 a n d 12 gallon s o f w o o d -a lc o h o l
S e p t. 1 1924 to S e p t. 1 1931.
F ran ch ises p a rticu la rly fa v o r a b le ; tor lig h t
from each c o r d o f w o o d c a rb o n iz e d . Instead o f 4 gallon s u nd er th e old
an d p o w e r e x te n d in g to 1939 an d fo r h e a tin g to 1929. T h e entire s erv ice
m e th o d , a n d fro m 160 up to 190 lbs. o f a ce ta te o f lim e p er c o r d , Instead o f
Is n ow d e riv e d fro m a new m o d e rn ge n e ra tin g sta tio n w ith 4 G eneral E le c tr ic
betw een 70 an d 80 lbs. A rran g em en ts m ad e w ith the W o o d P r o d u cts C o.
3 -p h ase tu rb o -g e n e ra to rs.
M arlon Is a c it y o f a b o u t 25,000 p o p u la tio n .
o f B u ffa lo, an d th e U . S . In du strial A lc o h o l C o ., insure p referen tial term s in
[T h e g u a ra n to r o f th e b o n d s, th e A m e rica n Gas & E le c tr ic C o ., w h ich Is
this m a rk et, an d m ak e p r a c tic a lly certa in th at o u r p r o d u c ts will a lw a ys be
c o n tr o lle d b y G eneral E le c tr ic C o. Interests, co n tro ls a n d op e ra tes s om e
ta k en as ra p id ly as p r o d u c e d . T h e presen ce o n th e b o a rd o f the P residen t
20 lig h tin g p ro p e rtie s, se rvin g o v e r 500 ,000 p e o p le .
In a d d itio n t o th e 17
o f th e U. S. In d u strial A lc o h o l C o ., and a m em ber o f th e firm o f R o g e rs ,
c o n tr o lle d p rop erties en u m erated In the o ffic ia l sta te m e n t In V. 87, p . 1061,
B row n & C o ., w h o h a v e a large financial interest in the c o m p a n y , insures
a r c the C itizen s’ L ig h t & P o w e r C o ., A u b u r n , N . Y .; th e S tan d ard E le ctric
frie n d ly c o -o p e r a tio n .
T h e W o o d P ro d u cts C o. o f B u ffa lo , w h ich is a
L ig h t, Ile a t & P ow er C o. o f A v o c a , P a ., and th e L a ck a w a n n a V a lley E lec
s u b sid ia ry o f th e U. S . In d u strial A lc o h o l C o ., han dles a b o u t 9 5 % o f the
tric L ig h t, ile a t & P o w e r S u p p ly C o. o f C a rb o n d a le , P a .
I'ro m In corp ora
w o o d -a lc o h o l m a d e in th e U . S .
R o g e rs, B row n & C o. [th e largest sellers
tio n in 1907 has paid regular d iv id e n d s o f 6 % o n Its p re f. s t o c k , th e a m o u n t
o f p ig -iron In th e U . S.) h a v e u n d erta k en th e sale o f th e p ig -iro n .
o u ts ta n d in g $ 1 ,5 5 3 ,0 0 0 .
C o m m o n s t o c k , $ 2 ,8 0 0 ,0 0 0 o u ts ta n d in g , sells
a ro u n d p a r.]— V . 74, p. 730.
Estim ated A n n u a l E a rn in g s A ter P la n ts Shall H ave B een R e-M o d eled .
C h a rcoa l pig -iron , 198,000 to n s, at $3 50 p r o fit --------------------------- $69 3,00 0
M a r s e i ll e s G o . ( A g r i c u l t u r a l I m p l e m e n t s ) , E a s t M o l i n e ,
W o o d -a lc o h o l, 3 ,4 2 0 ,0 0 0 g a ls., at 2 3 c. per g a l., $ 78 6,60 0; a ce ta te
o f lim e, 61,5 6 0 ,0 0 0 lb s ., at t .6 c . per lb ., $98 4,96 0; to ta l net
111.— B o n d s O f f e r e d . — P e a b o d y , I l o u g h t o l i n g & C o . , C h i c a g o ,
selling v a lu e at p la n t, $1 ,7 7 1 ,5 6 0 ; less a d d itio n a l fuel and
a r e o f f e r i n g a t p a r a n d i n t . t h e u n s o l d p o r t i o n o f $ 2 5 0 ,0 0 0
la b o r c o s ts a t ch em ica l pla n ts, $ 6 8 4 ,0 0 0 ------------------------------------- 1 ,087,560
T o t a l ................................................... ................- ..................... ..............$ 1 ,7 8 0 ,5 6 0
D e d u c t 2 5 % t o c o v e r p ossib le s h u t-d o w n s , slack tra d e , & c . . D e b , 445 ,140
an d a d d n et profits from Y a le M ine, s a y 100,000 tons per a n n u m ,
at 7 5 c. p er t o n ___________________________________________________ C r.75,000
T o ta l est. net earnings b e fo r e allo w in g fo r d e p r . & Int. ch g e s .S 1,410,420
T h is c o m p a n y is the largest p ro d u ce r o f ch a r c o a l p lg-Iron in th e U . S .,
and w ill be the largest p ro d u ce r o f w o o d -a lc o h o l an d th e largest p r o d u ce r
o f a ceta te o f lim e In th e U .,S .
A ccountan ts' R ep ort o f N et E a rn in g s B efo re D educting Interest or D ep reciation .
(C h o c o la y p la n t, sin ce a c q u ir e d , n o t In clu ded.)
------Calendar Y ears----- 16 A f os. to
— Y ears e n d .A p r . 30—
A verage
1905.
1906.
A p r . 30 ’ 08.
1909.
1910.
P er A n n .
$ 5 0 3,45 9
$ 6 2 6,49 4
$ 9 5 1,31 0
*$72 ,848
$463,503
$490,803
* D ro p In earnings In 1908-09 w as cau sed p a r tly b y financial p a n ic, b u t
m a in ly th rou gh d is o rg a n iz a tio n fo llo w in g th e d e a th o f P r e s ., c h ie f o w n e r.
1st M . 6 %
s e r ia l g o l d b o n d s .
D a te d D e c. 15 1910, d u e $25 ,000 y e a r ly each D eo. 15 fro m 1912 to 1921,
in c l., b u t re d e e m a b le In reverse o f n u m erica l o rd e r o n D eo. l o 191,3 or Inter
est d ates th e re a fte r at 102 lA an d Int. P a r $1,000 and $;>00 c * .
P rln . and
lu t. (s .-a .) p a y a b le at First T ru st & S av in gs B a n k, trustee, C h icago.
Cash Investm ent ($ 1 ,0 0 0 ,0 0 0 )—
R esources ($980,000) —
R ea l e s t a t e ___________________ $83 ,910 P ref. s to c k paid I n _________ $15 0,00 0
500,000
B u ild in gs and p l a n t . ............. 425 ,000 C o m m o n s to c k p aid In .
P re f. s t o c k su bscrib ed (sec
T o o ls , p attern s, & c. (e x
b e lo w )..........................
100,000
c lu d in g p a t e n t s )................... 120,000
First mortgage b o n d s .. .
250,000
N e t w o rk in g c a p ita l (m a
terials, bills r c c e iv ., & o.) 3 5 1 ,090 [
T h e trust d e e d p r o v id e s th a t th e n e t w o rk in g c a p ita l shall be m ain tain ed
a t a m in im u m o f $25 0 ,0 0 0 .
,
O ffice rs .— P re s., G . N . P eek , O m a h a , N e b .; V lo o -P re sld cn ts, G . W . MIxte r, M oline, HI., and S . II. V elle, K an sas C ity , M o .; S e c .. O . H . Adams;
M olin e, 111.; T r e a s ., R . B . L o u rle , M olin e, 111. • ■ ■
T H E C H R O N IC L E
D e c . 3 1 11)10.1
Abstract of Letter from President Q. N. Peek, Moline, 111., Dec. 6 1910.
M a n u fa ctu res c o r n shellers, p o r ta b le (train e le v a to rs, m anure spreaders
an d o th e r agricu ltu ra l Im p lem en ts.
F o r m e d Ju n e 23 1910, an d has a c
qu ired th e business o f the M arseilles M fg . C o ., w ell k n o w n in th e agricu l
tu ral im p le m e n t business, an d (fro m D eere & C o ., w h o re c e n tly p u rchased
th e sam e) th e W estern business o f K e m p & B u rp ee C o . o f S yracu se, th e
orig in a l m an u factu rer o f m a n u re spreaders.
T h e K . & II. C o. d u rin g the
last ten years has earned o v e r $ 6 5 0 ,0 0 0 . T h e business o f b o th co m p a n ie s
has been m o v e d t o th e new pla n t a t E a st M olin e , and the services o f the a c
tiv e heads o f th e o ld co n ce rn s have be e n a cq u ir e d . C o n tra cts fo r th e sale
o f fro m 80 to 9 0 % o f th e o u t p u t h a v e be e n m ad e w ith the bran ch houses
o f D eere & C o. at p rices th a t assure a s a tisfa c to r y p r o fit, these b ein g s u b je c t
t o ann u al r e v ision In ca se o f v a r ia tio n In th e c o s t o f m aterial or la b o r.
T h e w h ole o f th e c a p ita l s to c k ($750,000) has been s u b scrib e d fo r at par
an d $65 0,00 0 has been p a id in, le a v in g $ 1 0 0,00 0 o f p re f. s to c k su b s crip tio n s ,
w h ich w ill be p a id in ea rly In 1911.
M a s s a c h u s e t t s B r e w e r ie s C o ., B o s t o n .— Dividends.— A
d iv id e n d o f 1 % (th e s a m e a m o u n t as in th e tw o p r e c e d in g
y e a r s ) h a s b e e n d e c la r e d o n th e § 0 ,5 3 2 ,0 0 0 c a p ita l s t o c k ,
p a y a b le J a n . 14 to s to c k h o ld e r s o f r e c o r d J a n . 2 .
P rev io u s D ividend R ecord (P er C ent).
1901 t o 1905.
1906.
1907.
1908.
1909.
1910.
2 y e a r ly
3
4
4
4
4
T h e several d iv id e n d s patd in 1909 an d 1910 o n th e s to c k w ere: J a n . 15.
1 % : A p ril 15, 2 % ; O c t . 15, 1 % . — V . 89, p . 346 .
M a s s illo n (O .) E le c t r ic & G a s C o .—
Y ea r ending
G ross
N ov. 30—
E a rn in g s,
1910 ...................... .$ 5 7 ,7 3 5
1909 _____________ 48,571
— V . 89, p. 1414.
E x p en ses
and T a xes.
$33,329
28,798
Earnings.—
N et
E a rn in g s.
$ 2 4 ,4 0 6
19,773
R on d
In terest.
$ 8 ,137
8 ,0 0 0
B a la n ce,
S u rp lu s.
$16 ,269
11,773
M e x ic a n N a tio n a l G a s C o ., L o s A n g e l e s , C a l.— Status.—
T h is c o m p a n y , o r g a n iz e d b y E . L . D o h e n y o f L o s A n g e le s
a n d a s s o c ia te s , to m a n u fa c tu r e a n d sell g a s in M e x ic o , w a s
in c o r p . in D e la w a r e o n F e b . 8 19 0 9.
I t s a u t h . c a p it a l is
§ 2 ,5 0 0 ,0 0 0 in § 0 0 0 sh a re s, § 5 0 0 ,0 0 0 b e in g 6 % p r e f. a n d
§ 2 ,0 0 0 ,0 0 0 c o m m o n .
T h e a m o u n t s o u t s t a n d in g a r c sa id
to b e § 2 3 7 ,0 0 0 p r e f. a n d § 4 7 5 ,0 0 0 c o m m o n .
I n 1909 th ere
w e re s u b s c r ib e d a t p a r , w ith b o n u s o f s t o c k , § 5 0 0 ,0 0 0 o f an
issu e o f § 1 ,0 0 0 ,0 0 0 1st M . 6 % 3 0 -y e a r g o ld b o n d s , p a r § 1 0 0 ,
a n d § 1 ,0 0 0 , in t . A . & O .
In A p r il 1910 a n e w § 5 ,0 0 0 ,0 0 0
m o r tg a g e w a s m a d e to th e S o u th e r n T r u s t C o . o f L o s A n g e le s
as tr u s te e ; b u t w h e t h e r a s a first m o r tg a g e r e p la c in g th e o t h e r
o r a c o n s o lid a t e d issue d o e s n o t a p p e a r .
A n o ffic ia l s ta t e
m e n t m a d e D e c . 1 1909 sa id :
T h is c o m p a n y ow n s (1) th e con ce ssio n fro m th e M exica n G o v t, to M essrs.
D o h e n y , Canfleld an d B ridge fo r In trod u cin g th e new In du stry o f th e gas
business Into th e R e p u b lic ; (2) th e fra n ch ise fro m M e x ico C ity gra n ted to
th e sam e p arties to build gas w ork s w ithin Its Ju risdiction.
In o rd e r to
bu ild a gas p la n t In the C apital C ity — a co m m u n ity o f s o m e 4 00 ,000 souls,
w h o lly u n su p p lled w ith gas. A bon d Issue o f $1,0 0 0 ,0 0 0 6 % 3 0 -y ca r bond s
w as a u th o riz e d .
O n e-h a lf this a m o u n t was ottered fo r sale a t p ar an d lilt.,
w ith a bon u s o f s to c k , to c o v e r the c o s t o f the first Installation In M exico
C ity . T h e co n s u m p tio n should reach 500,000 c u . f t. d a lly , th e m om en t
su fficien t pipes ca n be Installed to su p p ly th e p e o p le w h o a rc d e m a n d in g gas.
T h e p r o b a b ility o f d o u b lin g o r even treblin g tills o u t p u t a t an early d a te
a m ou n ts to su bstan tial c e r ta in ty .
It n o w seem s necessary to p r o v id e fo r
10 o r 12 m iles o f street m ains a b o v e w h at w as a t first In ten ded. T h e T re a s
urer has th erefore been au th o riz e d to o ffe r fo r sale an a d d itio n a l b lo ck o f
$ 1 0 0,00 0 b on d s a t par an d ln t., w ith bonu s o f 5 0 % In pref. s to c k , o r 100%
In c o m m o n , as th e p u rch aser m a y ele ct. [In M ay 1910 th e first un it w ith
20 m iles o f m ains w as c o m p le te d , c o n tr a c ts fo r la y in g an a d d itio n a l 22 m iles
had been let a n d a u th o r ity h ad been o b ta in e d fro m th e c it y fo r la y in g an
a d d itio n a l 40 m iles. A t th e d a te nam ed $ 1 ,2 5 0 ,0 0 0 , It w as ru m o re d , had
been ex p e n d e d , an d it w as said th a t th e p la n t w hen co m p le te d in 1912-13,
a t a tota l c o s t o f $ 4 ,0 0 0 ,0 0 0 , w ou ld h a v e a c a p a c ity o f 1 ,500,000 cu . f t. per
d a y , using oil o b ta in e d fro m th e allied M exica n P e tro le u m C o. (V . 91,
p . 1450).]
O fficers (and d ir e c t o r s ).— E . L . D o h e n y , P r e s .; C. A . C anfield, 1st V ic e P res.; R . II. M iner, 2d V lc c -P r e s .; N orm an B rid ge, S ec. an d T r e a s .; all o f
L os A n geles; W . L . H ard in , S u b -S e c. an d T r e a s .; A le x a n d e r R oss, G e n .M g r.,
an d Jam es W . W arren , G en. S u p t., all o f M exico C ity; E . P . R ip le y , W . L .
H a rd in , H a rold W alk er, O . D . B e n n e tt, W arren W . A k e rs, E . C. B ra d le y ,
B . M acR ossIe.
M e x ic a n T e le g r a p h C o .— Partly Estimated
3 m o n th s a n d y e a r e n d in g D e c . 3 1 :
3 M o s . Tot. I n c .
1910 . - -$ 2 0 5 ,0 0 0
1909 __ - 195,000
Y ea r—
1910 _ -$ 8 0 4 ,5 0 0
1009 ___ 734 ,500
— V . 91, p . 875.
Earnings.— F o r
N et In c .
$192,000
182,500
M e x . Govt.
$9,500
8,000
D ivs. P a id .
(2 H )$ 8 9 ,7 3 5
(2 H )8 9 ,7 3 5
R a l.,S u r p .
$92,765
84,765
$74 2,00 0
648,500
$38 ,000
31,500
(10)$ 3 5 8 ,9 4 0
(10)3 4 0 ,9 4 3
$ 3 4 5,06 0
276 ,057
M id la n d S t e e l C o ., P it t s b u r g h . — No New Bonds.— T r e a s .
C h arle s M c K n ig h t o n D e c . 6 , r e p ly in g to o u r in q u ir y as to a
r e c e n t p r e ss r e p o r t , sa y s:
T h e c o m p a n y has n o t c o n te m p la te d an issue o f a n y b o n d s w h a te v e r.
W e h|ivc n o tice d several articles In the pap ers a b o u t it, b u t h a v e m ade no
denial b e c a u s j w e th o u g h t It w as a m istak e an d w as Intended fo r a n oth er
c o m p a n y ; b u t a? y o u h a v e th e m atter In such particu lars I w ill sta te th a t
th e M id lan d Steel C o. d o c s n o t n o w Intend t o Issue a n y new b o n d s, as It
has n o n ecessity fo r the m o n e y at th e presen t tim e . [II . C. F ow n es Is P re s.;
J . R a m s e y S p eer, V lc c -P r e s ., and W m . C. F o w n e s J r ., Sec.] C om pa re
V . 83, p . 41.
M is s o u r i & K a n s a s (B e ll) T e le p h o n e
C a pitaliza tion (the “ A u th orized A m o u n t” is thatiapproved by the P u b lic
Service C om m ission, Second D lstrct, N ew Y o r k ).
A u th orized . Issu ed .
L im it.
F irst m tg e . 6 % b o n d s (ta x -fr e e in N . Y .) ,$ 9 3 2 ,0 0 0 $500,000
$ 3 ,0 0 0 ,0 0 0
100,000
100 ,000
P referred s t o c k (par $ 100) _________________ 100,000
Common s t o c k (par of shares $ 100) _______ 575 ,000
575,000
575 ,000
A to ta l o f $ 7 0 0,00 0 b o n d s is a p p o rtio n e d fo r c o m p le tio n o f this d e v e l
o p m e n t, o f w h ich $50 0,00 0 b o n d s are a v a ila b le fo r im m e d ia te use. T h e
s to c k represents a large cash e q u ity Junior to these b o n d s. A n n u a l sink
in g fu n d , b e gin n in g N o v . 1 1916 up t o and In clu din g 1939, an a m o u n t equ a l
to 1 lA % o f th e fa ce v a lu e o f all th e b o n d s th e r e to fo r e Issued.
P lant .— M a so n ry d a m , 760 f t. lo n g , w ith a m a x im u m h eigh t o f 60 f t .,
co n n e c te d b y a p ip e lin e 11,450 ft. lo n g , w ith m a s o n ry an d steel po w e r h ou se,
lu rn lsh ln g a fall fro m dam crest t o tail race o f 295 ft . T h e p o w e r h o u s e Is
arranged t o c o n ta in fo u r u n its, th ree o f w h ich , 1,250 k . w . c a p a c ity ea ch ,
arc bein g Installed. T h e p la n t Is lo ca te ;! o n G aroga C reek, a b o u t nin e
m iles n orth o f F o r t P lain o n th e N . Y . C entral H R . and a b o u t th e sam e
dista n ce w est o f G loversville an d J o h n sto w n .
G aroga Creek rises in P eck
a n d C aroga lakes, nine m iles a b o v e th e Intake d a m , situ a te d o n th e s ou th
ern slope o f the A d ir o n d a ck ran ge a t e le v a tio n s o f 1,360 and 1,460 fe e t
a b o v e the sea level. T h e fee t o b o th has been a cq u ire d an d Is v e s te d in this
c o m p a n y , as are also m ill rig h ts, b y w h ich the su rfa ce o f th e w ater in these
lakes has been raised and low ered a t w ill fo r m a n y vears. A t P eck L a k e,
th e larger o f th e tw o , a m a so n ry d am is n o w b ein g built t o fu rth er raise
th e w ater level 20 fe e t, g iv in g a to ta l d e p th o f 22 f t. av a ila b le fo r s torage
an d d r o u g h t du rin g the d ry season . T h e a v a ila b le c o n te n ts o f these lakes
arc 1,2 5 0 ,0 0 0 ,0 0 0 c u b ic fe e t. T h is sto ra g e , c o m b in e d w ith th e great h ea d ,
w ill give a yea rly o u tp u t in th e d ry e st y e a r o f fro m 12,0 0 0 ,0 0 0 t o 15,0 0 0 ,0 0 0
k . w . h ou rs, d istrib u te d d u rin g th e y ear as r e q u ire d .
A ll n ecessa ry ri
parian rights alo n g th e stream h a v e also been a cq u ire d In fee.
T h e largest im m e d ia te m arket fo r this p o w e r is a t G lo v e rsv ille a n d J oh n s
t o w n , th e great g lo v e m a n u fa ctu rin g ce n tre o f th e U n ite d S ta te s. T h e
d is trib u tio n o f electric cu rrent in these cities a n d n e ig h b o rin g tow n s is
d o n e b y the F u lto n C o u n ty Gas & E le ctric C o ., a su b sid ia ry o f th e U n ited
Gas Im p r o v e m e n t C o. o f P h ila d elp h ia . A s th e F u lto n C o u n ty C o .'s exist
in g steam p la n t is o ld and in ca p a b le o f fu rn ish in g p o w e r fo r use in th e m ills
and fa cto rie s, and as there Is a great d e m a n d fo r e le ctric p o w e r b y th e m ills
an d fa cto rie s t o disp lace th eir n o n -e c o n o m lc a l steam plan ts, a c o n t r a c t
has been arran ged betw een th e F u lto n C o u n ty Gas & E le c tr ic C o. an d th e
M ohaw k C o ., b y w h ich the fo rm e r Is to b u y cu rren t fro m th e latter b e g in
n ing w ith a gu aran teed m in im u m o f 5 ,0 0 0 ,0 0 0 k. w . h ours th e first y ea r an d
Increasing b y a m in im u m y e a rly in crem en t o f 4 0 0 ,0 0 0 k. w . hours u n til a
c o n s u m p tio n o f 7 ,5 0 0 ,0 0 0 k. w . hours Is r e a ch e d , and a fte r th a t th e c o m
p a n y is n o t t o purch ase curren t fro m a n y o th e r s ou rce if th e M oh aw k C o.
has it to sell. T h e F u lton C o u n ty C o. Is t o co n s tr u c t Its o w n p o le line to
G lo ve rsville , be re spon sible fo r Its m ain ten an ce and all line losses, an d Is t o
ta k e th e cu rren t at th e M oh aw k C o m p a n y 's sw itc h b o a r d .
In a d d itio n t o
th e a b o v e c o n tr a c ts , arrangem ents h a ve been m a d e w h e r e b y th e business
o f o n e c it y o n th e N ew Y o r k Cen tral R R . w ill be o b ta in e d , and n e g o tia
tion s are n o w in progress w ith an o th e r. T h ese tw o cities are e x p e c te d t o
g iv e a m ark et fo r at least 1,000 h . p ., w h ich sh o u ld b rin g In $ 3 0 ,0 0 0 .
R ates P a y a b le by F u lton C ounty C o. (Rased on N o . o f k . w . hours taken per
annum or fra ctio n ).
F irst 7 ,0 0 0 ,0 0 0 .
N ex t 2 ,5 0 0 ,0 0 0
N ex t 2 ,5 0 0 ,0 0 0 .
N ex t 2 ,5 0 0 ,0 0 0 .
1 .0 c. per k .w .h .
0 .9 c . per k .w .h .
0 .8 c . per k .w .h .
0 .7 c . p er k .w .h .
G uaranteed M in im u m In com e o f C o. tinder F u lton C o. Contract on above basis.
1st Y r.
2nd Y r.
3rd Y r .
4th Y r.
5th Y r.
Gth Y r.
7th Y r.
$50 ,000
$54 ,000
$58 ,000
$62 ,0 0 0
$66 ,0 0 0
$ 70 ,000
$74 ,500
T h e o p e ra tin g expen ses o f th e c o m p a n y u n d e r th e F u lto n C o u n ty C o.
c o n tr a c t w ill be lim ited to th e p o w e r h ou se, a n d . In clu d in g ta x e s, should
n o t e x c e e d $ 8 ,0 0 0 . T h e first y e a r ’ s m in im u m g u aran tee w ill, th erefore,
c o v e r th e Interest at 6 % on $ 7 0 0 ,0 0 0 .
T h e a b o v e figu res are m in im a
w h ich b o th c o m p a n ie s be lie v e w ill b e e x c e e d e d .
E stim ated R evenu es o f the C o m p a n y .
Y ea r. G ross.
N et.
| Y ear. G ross.
N e t.
| Y ea r. G ross.
N e t.
1 9 1 1 . $50 ,0 0 0 $ 1 2 ,0 0 0 1 1 9 1 2 . $ 7 5 ,0 0 0
$ 6 3 ,0 0 0 |1 9 1 3 .$ 1 2 5 ,000 $ 1 1 0 ,0 0
M ontreal W a te r & Pow er C o.— L i s t e d i n L o n d o n . — The
London Stock Exchange has listed a further issue of £25,000
4)4j% 1st M. prior lien bonds, making the total listed
£514,300. Compare V. 91, p. 1028, 462.
M ontreal Steel W o r k s, L t d .— O f fe r to P u r c h a s e S t o c k .—
The Investment Trust Co. of Montreal, on behalf of a syn
dicate which also controls the Ontario’Steel Co., with plant at
Welland, Out., has, with a view, it is stated, to a merger of
the two companies, made an offer to the shareholders to
purchase the stock on a basis of 137^ for the preferred and
162y , for the common stock, payment to be made in cash on
or before March 25 1911.
T h e d irectors h a v e agreed t o sell their shares o n th e basis n a m e d , s u b je c t
t o th e co n se n t o f 5 5 % o f the sh a re h o ld e rs.
L a r g e D i v i d e n d . — The directors have declared a dividend
of 7% for the half-year ending Dec. 31, making 10% in all
for the calendar year 1910.
T h is Is n o t lo o k e d
d eclared in o rd e r t o
w as paid) in the 7 %
sin ce 1905.— V . 91,
u p o n a s a n e w basis b u t the e x tra 3 % , it is p r e s u m e d ,is
m ake up th e 3 % d e fic ie n c y fo r 1908 (w hen o n ly 4 %
annual ra te w h ich , w ith th is e x c e p tio n , has been p aid
p. 521, 399.
N ashua (N . H .) M anufacturing C o .— I n c r e a s e o f S t o c k —
— The stockholders voted Dec. 28 to increase
the authorized stock from §1,000,000 to §1,450,000( par of
shares §500) to purchase the property, franchises and good
will of the Jackson Co. as a going concern, “ paying therefor
with said §450,000 additional stock and by assuming all the
debts and liabilities of said Jackson Co. of every nature and
C o . — Kansas Ouster
description.’’
Suit.— A t to r n e y -G e n e r a l J a c k s o n o n J u ly 5 filed in th e
S h a w n e e ( K a n .) C o u n t y D is t r ic t C o u r t a s u it to p r e v e n t
th e c o m p a n y a n d th e A m e r ic a n T e le p h o n e & T e le g r a p h C o .
fr o m m o n o p o liz in g th e te le p h o n e b u sin e ss o f th e S ta te .
T h e suit Is the o u tg r o w th o f the p urchase b y the A m erican C o ., (w h ich the
p e titio n alleges Is the real d e fe n d a n t in the suit) o f th e In d e p e n d e n t te le
ph on e plan ts a t W ich ita an d H u tch in so n , K a n ., th e fo rm e r In the
ea rly sp rin g o f this y ea r an d the latter a few w eeks a g o . T h e p e titio n fu rth er
alleges th at the Bell C o. is now n e g o tia tin g fo r th e purch ase o f th e U n ion
te le g ra p h & te le p h o n e C o. J u d ge Dana issued an o rd e r restra in in g the
d e fe n d a n ts fro m p u rch a sin g eith er d ir e ctly o r In directly a n y p art o f the
s to c k o f the U n ion T elep h o n e & T e le g ra p h C o. o r a n y o th e r line th a t m a y
h a ve been used in c o m p e titio n w ith the d e fe n d a n ts until the case Is finally
settled in the c o u r ts .
1 he
l o p e k a C a p ita l” says the suit co n ce rn s inde11 J ''? r n ta,t0 w t l ;l to t a l v a lu a tio n o f a p p ro x im a te ly
$20,UUU,UUU.— V . Si 1» D* l oU.
M o h a w k H y d r o -E le c t r ic C o ., N e w Y o r k . — Bonds Offered.—
P in g r c e , M c K in n e y & C o ., B o s t o n , are o ffe r in g a t 101 y2 a n d
in t ., n e ttin g 5 7
A % in c o m e , th e u n s o ld p o r t io n o f th e p r e se n t
issu e o f § 5 0 0 ,0 0 0 1st M . 6 % s in k in g fu n d g o ld b o n d s d a t e d
N o v . 1 1910 a n d d u e N o v . 1 1940, b u t r e d e e m a b le as a w h o le
o n o r a fte r N o v . I 1913 a t 110 a n d in t .
In t. M. & N . at
C o lu m b ia T r u s t C o . (th e tr u s te e ), N . Y . C it y .
P a r § 1 ,0 0 0 c * .
T a x - e x e m p t in N . Y . S ta te .
Abstract of Letter from President Wm. Barclay Parsons, 60 Wall Street.
New York, Nov. 26 1910.
T h is c o m p a n y w as org a n ize d In N . Y . S ta te (o n M a y 17 1910) fo r th e
c o n s tr u c tio n o f a h y d r o -e le ctr ic p la n t in F u lto n C o u n ty , N . Y . T h e w o rk
is so far a d v a n c e d as t o p rom ise th e be gin n in g o f o p e ra tio n s a b o u t J a n . 1.
1775
A c q u is itio n .
• T h e J a ck so n C o. has mills a t N ashua. N . I I ., w h ich w ere e q u ip p e d a t last
a c c o u n ts w ith 55,040 spindles an d 1,802 lo o m s .
It m a n u fa ctu re s sh eetin gs,
sh irtin gs, an d c o t to n llannels. C apital s to c k a u th . an d Issued, $ 6 0 0 ,0 0 0 ;
p ar o f shares, $ 1 ,000 e a ch .
D lv s. in 1905, 8 % ; 1906, 1 2 % ; 1907, 8 %
1 9 0 8 ,0 % ; 1909, 8 % ; 1910 ( ? ) .— V . 91, p . 98.
N a tio n a l P a c k in g C o .— Supplemental Indictments.— T h e
J u ly s p e cia l F e d e ra l g ra n d ju r y o n D e c . 16 r e tu r n e d a s u p p le
m en ta l in d ic t m e n t a g a in st th e ten o ffic e r s o f th e s o -c a lle d
“ B e e f T r u s t ” in clu d e d in th e in d ic t m e n t s fo u n d S e p t. 12 la st
fo r a lle g e d v io la t io n o f th e .S h erm a n a n t i-tr u s t la w .*
T h e in d ictm e n t c o n ta in s fo u r c o u n ts , co v e r in g alleged n ew offen ses o c c u r
rin g largely sin ce th e fo rm e r In d ictm en ts and e x te n d in g up t o D e c. 16, th u s
b rin gin g th e cases up t o d a te . W ith th e new in d ictm e n ts there are nine
c o u n ts a gain st each o f th o se In d icte d . T h e new In d ictm e n t in clu d es
ch a rges co v e r in g acts d u rin g th e last 3 yea rs. In th e earlier in d ictm e n t
tin? ch arges em b ra ce th e last 12 years. T h e su p p le m e n ta l bills w ere asked
b y th e G o v e rn m e n t t o c h e ck m a te a n y u n e x p e cte d m o v e b y th e p a ck e rs ’
a tto r n e y s to w a rd In va lid a tin g th e In dictm en ts th ro u gh a legal te c h n ica lity .
T h e tw o sets o f in d ictm e n ts co n ta in ch arges c o v e r in g th e en tire life tim e of
th e N a tio n a l P a ck in g C o.
Civil Suit Withdrawn.— J u d g e Iv o h lsa a t in th e U n ite d
S ta te s D is t r ic t C o u r t a t C h ic a g o o n D e c . 2 9 , b y r e q u e s t o f
D is t r ic t A t t o r n e y S im s, e n te r e d an o r d e r d is m is s in g th e su it
b r o u g h t b y th e G o v e r n m e n t in M a rch last fo r d is s o lu tio n o f
th e c o m p a n y .
C om pare V . 90, p . 853.
T h is Is d o n e , it is said, in ord e r to e n ab le th e G o v e rn m e n t t o p la ce th e
in d iv id u a l d e fe n d a n ts o n trial on th e In d ictm en ts fo u n d In S e p te m b e r last,
an d th e su p p le m e n ta l In dictm en ts r e c e n tly r e tu rn e d , w ith o u t fear o f their
n te rp o sln g a plea fo r Im m u n ity on th e grou n d ; o f th eir h a v in g given testi-
THE C H R O N IC LE
1770
m o n y in th e c iv il p rocee d in g s o r o b ta in in g lo n g d e la y becau se o f th e p e n
d e n c y o f th e la tte r .
C o m p a re V . 90, p . 8 5 3 .— V. 91, p . 720.
National Surety Co.— L i s t e d . — The N. Y. Stock Exchange
has listed $750,000 additional stock recently issued, making
the total amount listed $1,500,000. Compare V. 91, p. 1388.
[V O L . LX XX A i
T h e C ou rt held th a t th e c o m p a n y ’ s fra n ch ises h ad e x p ire d . A n a p p e a l
m a y b e ta k e n to th e U n ited S tates S u p rem e C o u rt. C ity o ffic ia ls s a y th e
c o m p a n y w ill h a v e t o a p p ly fo r a n ew fra n ch ise . T h e c o m p a n y ’ s cou n sel
sa ys th e c it y w ill g ra n t s o m e so rt o f a fra n ch ise , n o m a tte r w h a t th e resu lt
o f th e litig a tio n m a y be, as n o o n e else has offe re d t o ta k o th e p la ce o f th e
c o m p a n y .— V . 8 9 , p . 532.
— Judge Dayton in the Federal Court
at Phillipi, W. Va., on Dec. 17 overruled the motions of the
Continental Telephone Co. to discharge W. C. Handlan and
James W. Ewing as receivers and also to dissolve the tem
porary injunction against the Continental Co. restraining the
latter from interfering in the affairs of the National company.
Ontario Power Co., Niagara Falls.— B o n d s O f f e r e d . — Fran
cis Ralston Welsh, Philadelphia, is offering, by advertise
ment on another page,$1,000,000 1st M.5% gold bonds due
Feb. 1 1943. (See page 155 of “ Ry. & Ind. Sec.” ). The
sinking fund, it is stated, will retire about half the issuebefore maturity, buying in the open market up to 110 and int.
Mr. Welsh reports:
T h e te m p o r a r y In ju n ctio n again st th e C o n tin en tal c o m p a n y w as granted
in the su it Hied b y A n d re w J . H ow ard o f In d ia n a , b ro th e r o f P resident J o h n
A . H ow a rd o f th e N ation a l c o m p a n y , o n th e g ro u n d th a t $ 1 0 ,0 0 0 ,0 0 0 c o m
m o n s to c k was issued t o th e C o n tin en tal c o m p a n y w ith o u t the k n ow led ge
a n d con sen t o f th e sto c k h o ld e r s, thus g iv in g it c o n tr o l o f the N ation a l c o .
J u d g e D a y to n set d ow n fo r argu m en t o n J a n . 16 at P a rk ersbu rg th e p e titio n
Hied som e d ays since b y the M e tro p o lita n T r .C o . o f N . Y . as tru stee, w hich
asks that the sto ck s o f su b sid ia ry co m p a n ie s held (see list V . 91, p. 1326)
be ordered to b o d ep osite d as s e cu rity fo r a $679,000 lo a n , an d states In th e
p etition th a t, w hile A n d r e w J . H o w a rd Is the c o m p la in a n t In th e in ju n c tio n
p roceed in gs aga in st th e C on tin en tal c o m p a n y , J o h n A . H o w a rd , w h o o r
ganized the C on tin en ta l c o m p a n y , is th e real c o m p la in a n t.
A s to c k an d b o n d h old e rs’ p r o te c tiv e c o m m itte e has been fo rm e d w h ich
dem a n d s th e dism issal o f the receivers n am ed, cla im in g th e y are pe rso n a lly
c o n n e c te d w ith J o h n A . H o w a r d .— V . 91. p . 1326.
E a rn in g s fo r y ear e n d in g Jun e 30 1910: G ross, $72 9,77 9; n e t, $ 5 4 8 ,4 6 2 :
1st M . In t., $ 2 5 6 ,0 9 9 . N et earnings are n o w a t ra te o f a b o u t $ 7 6 0 ,0 0 0 .
Output f o r Y ears ending J u n e 30 (kilmoatt h o u r s ).
P resen t R a te .
1910.
1009.
1908.
1907.
a b t . 3 5 0 ,0 0 0 ,0 0 0 2 8 9 ,9 9 3 ,3 0 0 1 7 1 ,9 0 2 ,1 0 0
8 8 ,1 2 0 ,8 0 0
3 1 ,6 9 2 ,4 0 0
R epresentative C onsum ers o f P ow er G enerated by This C om pa n y.
B u ffalo & L a k e E ric T r a c tio n C o.
P r o v in c e o f O n ta rio .
In te rn a tio n a l P o w e r & T ra n sm . C o .
B u ffa lo G eneral E le c tr ic C o.
N iagara G orge R R . C o.
R o c h e s te r R y . & L ig h t C o.
O n ta rio D istrib u tin g C o.
S yra cu se L ig h tin g C o.
L a ck a w a n n a Steel C o.
S yra cu se R a p id T ra n sit C o.
A m e rica n L o c o m o t iv e W o r k s .
E rie R a ilro a d C o.
N e w Y o r k Central R R . C o .
,
T h e b o n d e d d e b t is e x c e p tio n a lly sm all a n d th e c o s t o f o p e r a tio n ex
c e p tio n a lly lo w . See V . 91, p . 720, 1028
National Telephone Corporation, Wheeling, W . V a,.—
R e
c e iv e r s h ip — L i t i g a t i o n .
Nevada Consolidated
Copper
Co., New York City.—
— S. R. Guggenheim and J. N. Bteele were
recently elected directors in place of James Phillips Jr. and
C. Hartmann Kuhn. S. W. Eccles has been made President,
succeeding Jas. Phillips Jr. D. C. Jacklin has become a
Vice-President. The directors now are:
N e io D i r e c t o r s .
S . R . G u g g en h eim , S . W . E ccle s , C. M . M a cN e lll, M u rry G u ggen h eim ,
J u d d S tew a rt, W . H ln ck le S m ith , Charles H a y d e n , D . C. J a c k lin g , W . E .
B e n n e tt, VV. B . T h o m p s o n a n d J . N . S teele, all e x c e p t B e n n e tt, S te w a rt,
Steele an d S m ith bein g also d ire cto rs o f th e U ta h C o p p e r C o ., w hich c o n tr o ls
th e N e v a d a C o n s o lid a te d .— V . 91, p . 1509.
New York Transportation Co.— R e p o r t
C o.
o f F i f t h A v e . C oa ch
— Report for year ending June 30:
O perating
N et
Other
Interest
B a lan ce,
F isca l Y ea r— R even u e.
E a rn in g s.
In com e.
P a id .
S u rp lu s.
1909-10 ............. . .$ 6 3 0 ,3 2 5
$ 65 ,098
$725
$ 36 ,715
$29 ,109
1908-09 _________ 3 69 ,413
58,416
870
37,247
22,040
Passen gers carried a t 10 ce n ts, 7 ,7 5 5 ,2 2 1 ; Increase, 2 ,3 3 2 ,5 0 7 .
Passen
gers ca rried a t 5 cen ts, 549 ,9 5 4 ; Increase, 363,364
T h e general b alan ce
sh eet as o f J u n e 30 1910 sh ow s to ta l assets, $69 7,39 9; d ecrease, $96 ,717 ;
ca s h , $ 5 0 ,4 7 7 ; Increase, $13 ,2 6 1 ; p rofit an d loss d e ficit, $4 3 0 ,3 3 7 ; d ecrease,
$ 2 7 ,8 8 0 .
S t r i k e .—1
The chauffeurs employed by the taxicab co’s., who
had been on strike for some weeks, on Dec. 5 voted to accept
the offer of the employers for a settlement of the strike
T h e m en w ill re ce iv e $2 50 a d a y fo r 12-liour d a y w ith an h o u r o ff fo r
d in n e r.
N o d is crim in a tio n Is t o be m ade against un ion e m p lo y e e s . A ll
com p la in ts w ere t o b e a d ju s te d before D e c.
— V . 90, p . 1175.
io.
Noiseless Typewriter Co.— E s t i m a t e
of
O u tp u t
of
T ype
— MeCuaig Bros. & Co., Montreal and Ottawa,
are offering at par a block of the 7% cum. pref. stock (S1,
150,000 issued) with a 60% bonus of common stock ($4,202,
500 outstanding). The firm gives the following estimate:
w r ite r s i n U . S .
N u m ber o f T yp ew riters M Jd. in U . S . D u rin g 1909 bg E x istin g A c tiv e Com
p a n ies, E stim ated 350 ,0 0 0 .
U n iou T y p e w r ite r C o _______*115,0001 L .C .S m lth & B r o s .T y p e w r lte r 30,000
U n d e r w o o d T y p e w r ite r C o .
8 0 ,0 0 0 1R o y a l T y p e w r ite r C o _______ 25,000
O liv er T y p e w r ite r C o _______
4 0 ,0 0 0 1O thers ________________________ 60,000
* R e m in g t o n . M on a rch , S m ith -P r e m ie r .— V . 91, p . 521.
North Carolina Electrical Power Co., Asheville, N. C.—
Merger— N e w M o r t g a g e . — T h is c o m p a n y , in c o r p o r a t e d in
1901 u n d e r s p e c ia l A c t o f G e n e ra l A s s e m b ly o f N o r th C a ro
lin a , r e c e n t ly t o o k o v e r th e p r o p e r t y o f th e W . T . W e a v e r
P o w e r C o ., a s su m in g its $ 2 1 5 ,0 0 0 b o n d s ( V . 8 5 , p . 1 0 4 ).
A
“ first a n d r e fu n d in g ’ ’ m o r tg a g e w a s s u b s e q u e n tly file d , c o v e r
in g th e c o n s o lid a t e d p r o p e r t ie s , th e W a c h o v ia L o a n & T r u st
C o . o f A s h e v ille , N . C ., b e in g tr u s te e , t o se cu r e a n issu e o f
$ 2 ,0 0 0 ,0 0 0 5 % g o ld b o n d s .
T h e new b o n d s arc d a te d O c t . 1 1 9 1 0 an d d u e O c t. 1 1940, b u t arc s u b je c t
t o ca ll in an d a fte r 1916 at 105; sin kin g fu n d 1 >4% o f earnings a fter th at
y e a r.
P a r $ 1 ,0 0 0 .
I n t . A . & O . In B o s to n an d P h ila d e lp h ia . A m o u n t o f
issue n o w o u t , $4 7 5 ,0 0 0 ; reserved t o re tire W . T . W e a v e r P o w e r C o. b o n d s,
$ 21 5,00 0; reserv ed fo r fu tu re a d d itio n s a n d a cq u isitio n s t o 8 5 % o f c o s t o f
sa m e, $ 1 ,3 1 0 ,0 0 0 . C a pital s to c k a u tli., $ 1 ,0 0 0 ,0 0 0 in $100 shares; o u t
s ta n d in g $4 2 5 ,0 0 0 . P r e s ., W . T . W e a v e r ; S e c .-T r c a s ., W . E . R e id .
T h e c o m p a n y ow n s: W e a v e r p la n t, A s h e v ille , N . C ., 3 ,000 h . p .; I v y
p la n t, near M arsh all, N . C ., 750 h . p .; M arshall p la n t, near M arshall, N . C .;
(u n d er c o n s t r u c tio n ), 4,5 0 0 h . p .
Ohio & Texas Sugar Co.— B o n d s — O tis & H o u g h , C le v e
la n d , s o m e m o n t h s a g o o ffe r e d a t p a r th e u n s o ld p o r t io n o f
$ 2 0 0 ,0 0 0 1st M . 6 % s. f . serial g o ld b o n d s , g u a r a n t e e d , p r in .
a n d i n t ., b y n in e s t o c k h o ld e r s .
A c ir c u la r s a y s :
O h io c o r p o r a t io n . S t o c k , a u th . a n d issu ed, c o m m o n , $ 1 ,0 0 0 ,0 0 0 ; p r e f.
(p a id up In cash a t p a r ), $ 50 0,00 0. F irst m o rtg a g e 6s, $ 2 0 0 ,0 0 0 , d a te d
A p ril 10 1909.
P a r. $1 ,0 0 0 . P rin cip a l and Interest (A p ril 10 an d O ct. 10)
p a y a b le a t C a p itol T r u s t C o ., tru stee, C olu m b u s, O . S in k , fu n d 25c. per
to n on all can e g rou n d b egan F e b . 1910. A ll b o n d s are s u b je c t t o call a t
i0 5 a n d Int.; sin k , fu n d m ay p a y b o n d s a t 101 an d Int, In n u m erica l o rd er.
B on d s N os. 1 t o 100 m a tu re y e a rly A p ril 10, v iz .: 1912, $10 ,000 ; 1913,
$ 15 ,000 ; 1914 t o 1916, $ 25 ,000 per an n u m .
I n 1907 the c o m p a n y b o u g h t fo r $270,000 1,884 H acres o f irrigated
la n d In th e R i o G rande V a lle y , 3 m iles n orth o f B ro w n sville , T e x ., a n d In
1908 b u ilt, a t a c o s t o f $2 7 1 ,0 0 0 , a m od ern sugar m ill, c a p a c ity 500 tons
p er d a y a n d c a p a b le o f Increase a t co s t o f o n ly a b o u t $40 ,000 t o 1,000
ton s p er d a y .
H as und er cu ltiv a tio n 800 acres o f can e, an d fo r the present
y ear w ill grin d ca n e from a b o u t 400 acres o f lan d o th e r than Its o w n . T o t a l
assets v a lu ed a t $72 8,00 0.
F . H . L ln d cn b e rg o f C olu m bu s, O ., Is P re s .;
R . C . W h a r to n o f C olu m bu s. S e c. a n d T reas.
Ontario Steel C o .— M e r g e r . — S ee
M o n tre a l
S teel W o r k s .
P eop le’s
Portland Cement C o ., Sandusky— S p ok ane.—
B o n d s O f f e r e d . — A r t h u r S . F o r d , G re a t N o r th e r n B ld g ., C h i
c a g o , is o ffe r in g a t p a r a n d in t ., b y a d v e r tis e m e n t o n a n o t h e r
p a g e , th is c o m p a n y ’s 1st M . 7 % g o ld b o n d s , w ith b o n u s o f
2 5 % com m on s to ck .
P a r o f b o n d s $ 1 ,0 0 0 , $ 5 0 0 , $ 1 0 0 .
T r u s te e s , C h ic a g o T it le & T r u s t C o . a n d W in . C . N ib la c k .
M r. F o r d s a y s in s u b s ta n c e :
T h is b o n d Issue w as au th o riz e d t o raise fu n d s fo r th e In stallation o f new
m a ch in e ry an d c o m p le tio n o f ce m e n t m ill N o . 1 at S a n d u sk y , O ., an d
th e e r e ctio n a n d eq u ip m e n t o f th e new m ill (N o . 2) In W a s h in g to n . T o t a l
au th o riz e d Issue Is $ 1 ,0 0 0 ,0 0 0 , o f w h ich $25 0,00 0 has been d e p o s ite d In
e s cro w fo r fu tu re d e v e lo p m e n t; the ba la n ce o f $75 0,00 0 has been o ffered fo r
p u b lic s u b scrip tio n , an d at th is d a te a b o u t $55 0,00 0 o f th e Issue has been
s o ld , the rem ain der be in g n o w offe re d s u b je c t t o w ith d raw al w ith o u t n o t ic e .
T h e to ta l c o m m o n s to ck Is $ 2 ,0 0 0 ,0 0 0 .
T h e b o n d s c o n s titu te a 1st M . on all assets n o w ow n ed o r h erea fter ac
q u ire d , th e present assets b e in g (a) M ill N o . 1 at S a n d u s k y , O ., t o start
grin din g M arch 15 1911, c a p a c ity t o b e 2,0 0 0 b b ls . p er d a y , b u ild in gs, m a
ch in e r y and e q u ip m e n t, m ill site, c la y an d lim e lands, & c.; (b) m ill N o . 2
t o b e e re cte d In W a s h in g to n , c a p a c it y 2 ,0 0 0 b b ls . p e r d a y , bu ild in gs, m a
ch in e r y , e q u ip m e n t an d o p tio n s o n lim e, c la y and shale d e p o sits, m ill site,
& c.; (c) c o a l m in e, 508 acres, lo ca te d near A m c s v llle , CL. w h ich has been
su cce ssfu lly o p e ra te d fo r m a n y years an d th e o u tp u t o f w h ich , u p t o 500
to n s per d a y , Is c o n tr a c te d fo r u n til 1911. O u r engineers re p o rt th a t th ere
Is en o u g h c o a l t o k eep th e m in e g o in g , a t 500 to n s d a lly , fo r 80 ye a rs, a t a
p ro fit su fficie n t t o p a y th e entire b o n d in terest and redeem the prin cip a l
T h e lo ca tio n o f m ill N o . 1, o n S a n d u sk y B a y , w ith w ater tra n s p o rta tio n
t o e v e r y p o in t o n th e G reat L a kes fro m B u ffalo t o C h icago, gives th e c o m
p a n y an e n o rm o u s a d v a n ta g e In su p p ly in g th e Im p o rta n t a n d g ro w in g
ce m e n t m arkets o f the lake citie s. T h e s itu a tio n in th e W e s t, w here cem en t
is selling t o -d a y fo r n early $3 per b b l., o r m ore th an tw ice th e price o b ta in e d
In C h ica g o , and w here there is at p resen t little lo ca l so u rce o f s u p p ly , m ak es
this s e ctio n pa rticu la rly a ttr a c tiv e .
P residen t R . J . K e llo g g on D e c. 1 1910 w ro te : “ T h e de m a n d fo r ’ R e d
T ria n g le ’ ce m e n t has a lre a d y s ta rte d , and w e h a v e re ce iv e d an offer from
a re sp on sible ce m e n t dealer fo r th e C levelan d a g e n c y , to g e th e r w ith his
o ffer fo r 150,000 b b ls . o f o u r c e m e n t fo r th e y e a r 1911. W e h a v e also re
ce iv e d a se c o n d offe r fo r 100,000 b b ls . o f o u r p r o d u c t, an d In a d d itio n are
n e g o tia tin g w ith a th ird co n c e r n w hich pro p o se s t o ta k e o u r en tire o u tp u t
fo r 1 91 1.”
It- tefc- v.. U f c l L f c a
" P a d u c a h ^ K y .) H om e Telephone C o. — S a l e O r d e r e d .—
J u d g e W a lt e r E v a n s , in th e U . S . D is tr ic t C o u rt a t L o u is v ille ,
o n J a n . 7 o r d e r e d th e fo r e c lo s u r e sa le o f th e p r o p e r t ie s b o t h
o f th is c o m p a n y a n d th e K e n t u c k y & I n d ia n a T e le p h o n e &
T e le g r a p h C o . o f O w e n s b o r o , K y . , o n th e a p p lic a t io n o f
J . D . P o w e r s , r e c e iv e r f o r th e c o m p a n ie s a n d as r e c e iv e r fo r
th e C en tra l H o m e T e le p h o n e C o . (c o m p a r e Y . 8 4 , p . 2 2 3 ;
V . 8 9 , p . 1 4 8 5 ), th e h o ld e r o f th e b o n d s o f th e tw o K e n t u c k y
c o m p a n ie s , a m o u n t in g , it is s a id , t o $ 2 5 0 ,0 0 0 a n d $ 1 6 2 ,0 0 0 .
Pacific Hardw are & Steel C o ., San F rancisco.— S p e c i a l
M e e t i n g . — -A s p ecia l s t o c k h o ld e r s ’ m e e tin g w a s t o b e h e ld
o n J a n . 17 t o d is s o lv e th e N e w J e rs e y c o r p o r a t io n arid re
in c o r p o r a t e u n d e r th e la w s o f C a lifo rn ia w ith th e sa m e c o r
p o r a t e n a m e a n d w it h o u t c h a n g e in c a p it a liz a t io n o r p e r
s o n n e l.
C o m p a re V . 9 0 , p . 8 5 4 .
Passaic Steel C o ., Paterson, N. J.— D e c i s i o n H o l d i n g P r o
m o te r s L i a b l e . — V ic e -C h a n c e llo r H o w e ll a t T r e n t o n , N . J ., on
D e c . 1 6 ,in th e su it b r o u g h t b y T h o m a s J . A r n o ld a n d o th e r
s to c k h o ld e r s a g a in st F r e d e r ic k F . S e a rin g , A lb e r t C. 1'a irc h ild a n d H e n r y F . B e ll, as p r o m o te r s o f th e c o m p a n y h eld
M essrs. S ea rin g a n d F a ir c h ild jo i n t ly a n d s e v e r a lly lia b le fo r
th e a m o u n t o f s e cre t p r o fits m a d e b y th e m a n d M r. B ell
o n ly t o th e e x t e n t th a t h e a c t u a lly p r o fite d b y th e tr a n s a c
tio n (th e la tt e r a m o u n t sa id t o b e a b o u t $ 7 0 ,0 0 0 ).
T h e a m o u n t o f Droflts o f the p r o m o te rs m a d e w ith o u t th e k n o w led g e o f
th d c o m p a n y o r th e s to ck h o ld e rs w h o p a rticip a te d In t h c r e o r g a n lz a tlo n o f
th e P assaic R o llin g Mill C o . in 1903 a g g re g a te d , I t Is sa id , $40 0,00 0 in
b o n d s and $ 3, 000,000 s to c k o f the new c o m p a n y . T h e Increase In c a p lta llz a tlo n fro m $200,000 t o $ 7 ,5 0 0 ,0 0 0 w as e ffco te d , th e C orn t says, w ith ou t
a d d in g a d olla r to the assets o f the rollin g m ill c o m p a n y , th e p ro m oters b y
m a n ip u la tio n bein g a b le to w ith d raw fro m th e c o m p a n y 20 „ o f Its b o n d
Issue and 6 0 % o f th e s t o e k , w ith o u t ren d erin g sei v ice o th er th an n ecessary
t o p u t th ro u gh th e o p e ra tio n w h ich en ab led them to m ake th e p r o fit.
If
th e a m o u n ts t o be retu rn ed b y th e d e fe n d a n ts ca n n o t be agreed u p o n , a
M aster Is t o b e a p p o in te d . T h e s to c k
w o rth le ss, rep ara tlon to be m ade o n ly fo r th e b o n d s .— V . 89, p . 1487.
Pennsylvania W a te r C o ., W ilk in sbu rgh , Pa .— N e w B o n d s .
Oklahoma F u e l S u p p ly Co., P it t s b u r g h , Pa.—First Divi
dend.— T h is c o m p a n y , w h ic h b u y s g a s fr o m th e O k la h o m a — -T h e sh a r e h o ld e r s w ill v o t e A u g . 5 o n a u t h o r iz in g “ a n o p e n
N a tu ra l G a s C o . ( V . 9 0 , p . I 4 8 6 ) a n d th e C a n e y R iv e r G a s
C o ., f o r d is t r ib u t io n in 15 to w n s in O k la h o m a , h a s d e c la r e d
an in itia l d iv id e n d o f
o f 1 % , p a y a b le O c t . 15.
T h is Is s u p p o s a b ly a m o n t h ly d is trib u tio n .
Capital s to c k a u th . a n d Issued
$25 0,00 0; p ar o f shares, $1.
N o bonded d eb t.
O k la h o m a N atural Gas
C o. (V . 90, p . 1486) ow n s an d c o n tr o ls n o s t o c k .
P re s., H a rry H e a sle y ;
S e c. and T r e a s ., A . W . L e o n a r d .
H o m e o ffic e , T u lsa , O kla.
Omaha (Neb.) Electric Light & Power Co.— Decision.—
T h e U n ite d S ta te s C ir c u it C o u r t o f A p p e a ls a t S t. P a u l,
M in n ., o n O c t . 17, d e n ie d th e a p p lic a t io n o f th e c o m p a n y fo r
a r e -h e a r in g in th e s u it o v e r th e c o m p a n y 's fra n ch is e s.
b o n d issu e, th e m a jo r p o r t io n o f w h ic h w ill re m a in in th e
h a n d s o f th e tr u stees f o r fu t u r e e x t e n s io n s .
A s ta tis tic a l c o m p ila tio n re p o rts th e o u ts ta n d in g securities as fo llo w s
C o m m o n s t o c k , $7 0 0 ,0 0 0 ; 6 % n o n -c u m . p re f. sto e k $50,000 (par $50)
1st M . 5s, d u e J u ly 15 1016, $ 1 9 0 ,0 0 0 . L a st P itts b u rg h W a te r C o. 6s,
d u e J u ly 1920, $50 ,000 ; P e n n sy lv a n ia W a te r C o . co n s o l, m tge 5s. d u e
A p ril 15 1929, $ 97 1,00 0 (to ta l a u th . 5 ^ 5 0 0 ,0 0 0 , reserved t o retire a fo r e
said u n d erlyin g b o n d s, $ 2 4 0 ,0 0 0 ).
P r e s ., R . B . M ellon, S c c .- l r e a s ., J os.
T . M iller. P itts b u r g h , P a .— V . 85, p . 287.
P enw ood Coal C o ., R ock w ood , Pa . — B o n d s — R e c e i v e r s h i p .
— A t a u c tio n in N . Y . C ity o n N o v . 23 $ 7 0 ,0 0 0 1st m t g e . 5 %
2 0 -y e a r g o ld b o n d s o f $ 5 0 0 e a c h , d u e 1920, s o ld f o r $ 5 0 0 ;
D e c . 3 1 1 91 0 .1
T H E C H R O N IC L E
T h e c o m p a n y , organ ized In M arch 1900 an d o p e ra tin g e a rly in 1909
o n e m in e near R o c k w o o d s ta tio n , l ’ a ., on th e 15. & O . U K ., its p r o p e r ty
e m b ra cin g 1,206 acres In Som erset C o u n ty , v o t e d in F e b . 1909 ( 1) to
in crea se its a u th orized cap ital s to ck from S i 50,000 (o n ly 10% n o w p aid up)
to $ 1 , 000, 000; ( 2) to take o v e r tw o a d jo in in g p ro p e rtie s agg re g a tin g 3,900
a cres, an d (3) to m ake a general an d refu n d in g m o rtg a g e to th e T ru s t C o.
o f A m ., N . Y ., as trustee, to secu re an issue o f $ 1 ,0 0 0 ,0 0 0 5 % b o n d s, par
$500, d a te d M arch 1 1909 an d d u e M arch 1 1939, o f w h ich $ 1 5 0,00 0 sh o u ld
be reserved to retire th e $15 0,00 0 1st 5s d u e 1926. T h e o ffic e r s w ere then
H u g h L . K ir b y o f H a rp e r’s F e rry , W . V a ., P re s,; C ol. It. L. H o w z c , W est
P o in t, N . Y ., V ic e -P r c s.; J . E . N o rw o o d , B a ltim o re , 2d V lce -P re s • C .1
A n d e r s o n , N ew H a v en , C o n n ., S e c .; Matulel S en er, B a lt ,, T rca s
In S e p t ’
1910 the c o m p a n y w as placed in the hands o f A tt o r n e y J o h n G .O g le o f S o m
erset, P a ., as receiver, on a p p lic a tio n b y a n u m b e r o f e m p lo y e e s , w hose
cla im s a ggrega ted $ 2 ,800. T h e aforesaid p u rch ase plan o f F eb . 1909 fell
th rou g h , but $50 0,00 0 o f th e new b o n d s, w e learn, w ere issu ed.
N o Interest
hog been p aid on a n y o f the b o n d s, an d there Is also a flo a tin g d e b t o f
$ 12,000 or m ore.
I he re ceiver Is asking fo r a u th o r ity to sell the p r o p e r ty
free o . m o r tg a g e an d oth e r Hens, an d It Is feared th a t a sm all price w ill b e
fn ftT a rch ^ O lO ^*0 b on d h o ld e rs unite for s e lf-p r o te ctio n .
O p e ra tio n s ceased
P e o r ia (111.) W a t e r -W o r k s C o .— Decision.— T h e o p in io n o f
J u d g e S a n b o r n r e n d e r e d o n S e p t. 30 last in th e IJ. S . C ircu it
C o u r t fo r th e N o r th e r n D is tr ic t o f I llin o is in th e su it b r o u g h t
b y th e c o m p a n y a g a in s t th e P e o r ia R y . to s t o p in ju r y to its
p ip e s b y e le c t r o ly s is b y s tr a y c u rre n ts fr o m th e s tre e t r a ilw a y
lin es is g iv e n a t le n g th in “ W a t e r a n d (la s R e v ie w :”
A m aster in ch a n c e r y re p o r te d In 1901, the r e p o rt n o t bein g a c te d u p o n
until 1903, an d the sam e m aster ren dered a se co n d re p o rt in 1909. T h e
d ecision o f the C j art, layin g d o w n tire general c o n c lu s io n s ,o f w h ich th e d e
tails are t o be Inserted In th e decree, differs m a te ria lly fro m th e r e c o m m e n d a
tion o f th e m aster. T h e o p in io n Is full o f te ch n ica l d e ta il.
It is re co g n ize d
th a t in the m a n y years since the case lias been u nd er In vestig a tion there
lias been great a iv a n c e in k n ow led ge o f th e fa c ts o f ele ctro ly sis, an d it Is
n ow p ossib le, th rou gh c o -o p e ra tio n o f th e c o r p o r a tio n s in terested, t o re d u ce
th e d an ger o f d a m a g e to a m in im u m . T h e C ourt de cid e s th at th e street
ra ilw a y sh ou ld bo en join e d fro m c o n tin u in g its In ju ry to th e w ater m ains,
b u t m akes the c o ;i MUon th a t th e w ater c o m p a n y c o -o p e r a te w ith th e street
rail w av anu th at rea son able tim e be g iv e n fo r m aking’ tile im p ro v e m e n ts .
— V . 70, p . 1203.
P h illip s S h e e t & T in P la t e C o ., W e ir t o n , V /. V a
.— New
O i l s a s? la!1 p o r tio n o f o u r new c a p ita l s to c k w ill b e s o ld a t this tim e
•anil tills o n ly to ou r present s to ck h o ld e rs. T ills is to c o v e r im p ro v e m e n ts
n ow u nd er w a y a t ou r p lants; the balan ce w ill s im p ly be held fo r fu tu re use.
,™5t o c < ls a11 1,1 0,10 f °r m an d carries no stated d iv id e n d .
Far $100.
[ he c o m p a n y w as organ ized in 1001-05 b y J am es It. Ph illips a n d E . T .
W eir, b o th o f w h om had o c c u p ie d im p o rta n t p o sitio n s w ith the A m erican
S heet & I in I late C o. (U . S. .Steel C o r p .), an d it pu rch ased the e ig h t-m ill
plan t o f trie J a ck son Iron & T in Plate C o. a t C lark sbu rg, w h ic h , as th en
a ltered , had an ann ual c a p a c ity o f a b o u t 2 0 ,000 ton s o f lo n g sheets an d
P resent c a p a c ity , 120,000 net to n s .
M r. P h illips
KatI ‘?*>u % 5 reck on M a y 11 1905. A t o r g a n iz a tio n th e
s to c k w as said to be $.500,000.
N o bon d s o r m o r tg a g e .— E d .]
P o u g h k e e p s ie (N . Y . ) L ig h t , H e a t & P o w e r C o .—Bonds
Offered.— J a m e s A . H u t c h in s o n a n d M errill. O ld h a m & C o .,
b o t h o f B o s t o n , d u r in g 100!) o ffe r e d th e r e m a in d e r o f th e
8 1 0 0 ,0 0 0 a d d itio n a l first c o n s o lid a te d m o r t g a g e 5 % g o ld
b o n d s , d a te d 1901, d u e N o v . 1 1921, b u t c a lla b le a ft e r
N o v . I 1911 a t 105 a n d in te re s t.
I n te r e s t M . &. N . in N ew
Y o r k C it y .
P a r , 8 1 ,0 0 0 a n d 8 5 0 0 ( c * ) .
Issu e lim ite d to
8 0 0 0 ,0 0 0 , in c lu d in g 8 7 5 ,0 0 0 re se rv e d t o re tir e 5s d u o 1 9 1 4 .
T r u s t C o . o f A m e r ic a , N e w Y o r k , t r u s te e .
A c ir c u la r s a id :
„
,. , .
C apitalization, as O fficially R eported D ec . 31 1908.
C apital s to c k (receiv in g 4 % d iv id e n d s )______________ _____. . ______ $500,000
lo u g h k e e p s le E lectric Eight & P o w e r C o. 5s d u e 1914. . .$ 7 5 ,6 6 6
f ir s t con solid a ted 5s d u e 1921 (In cluding this Issu es)____ 525,000 600 ,000
C on v e rtib le d eb en tu re 0s d u e 1926 (Interest J . & J . ) _____________ 121 ,000
K arnin gs fo r Y ears ending D ec. 31.
~
,
1908. 1907.
1906.
G ross e a rn in g s .................................
$280,328
$267,919
$ 2 2 9,34 2
N et earnings, a fte r t a x e s _________
$83,557
$79,727
$81,541
T o ta l in terest changes.^
_
38 363
34,932
28,526
D ividen ds ( 4 % ) --------------------------------------------------- 20,000
20,000
20,000
SS!,“ S2l ?.Vr!.,IUH
- ............................. - . - - -
5 2 5 ,1 9 4
c it y o f P o u g h k eep sie, N . Y ., a n d in the a d jo in in g tow n s o f H igh lan d an d
H y d e P a rk , s ervin g a p op u la tio n estim a ted at a b o u t 3 0 ,0 0 0 . T h e e le ctr ic
gen era tin g plan t lias a rated c a p a c ity o f a b o u t 2,400 li. p . an d th e gas
p la n t a d a ily c a p a c ity o f a b o u t 400 ,000 c u b ic fe e t.
T h e fra n ch ises are
p r o n o u n ce d p erp etu a l.— V . 8 9 , p . i n ; ,,
P u b lis h e r s P a p e r C o .— Successor.— S e e C o lo n ia l P a p e r C o .
— V . 9 1 , p .— V . 8(5, p . 2 3 2 .
P u llm a n Go.—Reduction of Rotes.— T h e I n t e r -S t a t e C o m
m e r ce C o m m is s io n , i n a r e p o r t m a d e b y C o m m is s io n e r F r a n k
lin L a n e , h as fix e d th e c h a r g e fo r u p p e r P u llm a n b e r th s a t
8 0 % o f th e ch a r g e m a d e fo r .lo w e r b e r th s , a n d h a s g iv e n
a p p r o v a l to a n ew s c h e d u le o f ra te s filed b y th e c o m p a n y , to
g o in to e ffe c t t h r o u g h o u t th e e n tir e U n ite d S ta te s o n o r b e
fo r e F e b . 1 n e x t .— V . 9 1 , p . 1517, 1332.
T h e C om m ission lias Issued a sta te m e n t sa yin g; “ T h e P u llm an C o lias
a c c e p te d , as sh ow n in this sch e d u le , the co n clu sio n s o f the C o m m ission in
w h a t are k n ow n as th e L o ftu s cases, th at th e rates fo r lon g distan ces on
low er berth s sh ou ld be red u ce d an d th a t all u p p er berth rates s h o u ld lie
r e d u ce d ,
it Is estim ated ttiat th e r e d u ctio n w hich will be m ad e u p o n all
or the lines o v e r w h ich P u llm an cars are o p e ra te d in the U n ited S tates.
, m ln c *at*c a l* o t the m ain line railroads o f the U n ite d S tates e x c e p tin g
suen low ei berth rate is $1 7."> o r o v e r , and in eases w here the low er berth
rate Is 31 50 the u pp er bertii rate shall lie fixed at a ra te n o t t o ex ce e d
$1
........."
T h e r e d u c t io n is to rem ain in fore;; fo r at least tw o yea rs. A n ord e r
was also Issue I p ro v id in g fo r o th e r specified re d u ctio n s In ch arges for low er
erth s a ft e r F e b . 1 in m a n y in stan ces.
Reduction in Texas.— A p re ss d is p a tc h s a y s th a t th e c o m
p a n y h a s n o tifie d th e T e x a s R R . C o m m is s io n e r s th a t it w ill
r e d u c e its ra te s w ith in th e S ta te 2 0 % . — V . 9 1 , p . 15 1 7, 1332.
R o b e r t s , J o h n s o n & R a n d S h oo C o ., S t. L o u i s .— Dividend
Stock.— T h e c o m p a n y d e c la r e d o n D e c . 1 3 ,1 9 0 9
a d iv id e n d o f 33 1 -3 % o n th e 8 1 ,8 7 5 ,0 0 0 c o m m o n s t o c k ’
p a y a b le a s th e s h a r e h o ld e r m ig h t e le c t , e ith e r in ca sh o r
com m on stock .
A s s ta t e d in V . 8 9 , p . 1 4 1 5, b o t h c o m m o n
o f 33 1 -3 % —
s t o c k a n d p r e fe r r e d w a s in c r e a s e d
8 2 ,5 0 0 ,0 0 0 . A S t . L o u is p a p e r sa id :
17 77
fr o m
S I , 8 7 5 ,0 0 0
to
“ A c c e p ta n c e o f th e c o m m o n s to c k carries w ith it an o b lig a tio n to p u rch ase
an e qu a l a m o u n t o f th e pre fe rre d a t p ar. T h e p re fe rre d s to ck draw s a
iix e d d iv id e n d o f
o f 1 % p e r m o n th .
T h e c o m m o n s to c k is q u o t e d a t
a b o u t $325 a sh are, p ar $100. T h e a d d itio n a l $52 5,00 0 is to he d e v o te d to
the e re ctio n o f n e w fa c to r ie s .
T h e c o m p a n y n o w has 11 in o p e r a tio n in
S t. L ou is a n d n e a r -b y t o w n s .”
C o m p a re V . 89, p. 1415.
A s s e ts —
L iabilities-—
M a n u factu red m d s e _______$ 1 , 771,513 C a p ital s to c k , p r e fe r r e d ,. $ 2 ,5 0 0 ,0 0 0
M a t’ls & g o o d s In p r o c e s s , 1 .101,235 C a p ital s t o c k , c o m m o n ___ 2 ,5 0 0 ,0 0 0
O u tsta n d in g a c c o u n t s ____ 1 ,256,174 Bills p a y a b l e _____________
8 3 0 ,060
Bills r e c e iv a b le ____________
10,031 D ue m a n u fa c tu r e r s ____ _
5 8 ,597
Cash on h a n d _____________
143,076 D u e o ffic e r s an d e m p lo y e e s
16.292
F ix tu re s, a d v a n c e s , s e cu ri
P ro fit an d lo s s ____________
179,594
ties, & c _________________
105,952
R ea l e s t a t e ________________
663 ,125
M ach in ery _____________ _
232 ,477
T r a d e -m a r k , g o o d -w ill, & c.
8 00 ,000
.......... .......................$6,0 8 4 ,4 8 3
T o t a l __________ ______ .-$ 6 ,0 8 4 ,4 8 3
C redit t o p ro fit an d loss on D e c. 10 1908 w as $ 6 0 8 ,2 9 5 ; net earnings f o r
j r a r a d d in g D e c. 10 1909, a fte r ch a rg in g o ff b a d d e b ts a n d d e p r e c ia tio n ,
,42.3. (.the, sale,s a ggre ga te d $ 1 1 ,3 5 6 ,1 2 2 ); t o ta l, $ 1 ,432,719 ; cash
loss *$179* 5 9 d u rin g th e y e a r , $ 1 ,2 5 3 ,1 2 5 ; b a la n ce t o cre d it o f p ro fit an d
, , A)le *"^a ! , e? f a t e ,as sh o w n a b o v e is rep resen ted b y fa c to r ie s lo ca ted at
T ian n rh ,!
a£ E h i(’ H *c h o r Y a n ,l M ississippi S treets, S t. L o u is, M o .; a t
k i ,c harles, W a s h in g to n a n d C ape G ira rd ea u , M o.; all con 1 aP d s to n e ; sp rin k ler e q u ip p e d , ea ch h a v in g Its ow n p o w e r
s s o o i m . i™ P lant. T h e to ta l c o s t o f m a ch in e ry a n d e q u ip m e n t w as
thn t n t f i !5fS«nlla!$!ed o lf as d e p re cia tio n (2 0 % a n n u a lly o n m a ch in e ry , an d
a c c o u n t , f2 3 2 4<
7 t7.‘ " V . ^ O ^ 'p .'“ i ( f ^ 0 u n ts )• 5 57 6,71 0: a m o u n t carried in
R o c h e s t e r & L a k e O n ta r io W a t e r C o .— Change in Control.
— A s y n d ic a t e o f N e w Y o r k a n d R o c h e s t e r c a p ita lis ts in
J u n e la s t p u r c h a s e d a m a jo r it y o f th e $ 2 ,5 0 0 ,0 0 0 c a p ita l
s t o c k , in c lu d in g th e s t o c k o w n e d b y th e W e s t E n d T r m t C o
a n d th e A m e r ic a n P ip e & C o n s t r u c tio n C o . o f P h ila d e lp h ia .
% Cm> d ire cto rs (an d office rs) w ere; P r e s ., H e n r y C. B re w ste r: V ic e
Pho V WUHarn 4 . B a ik a m ; A s s t . S ee. a n d A s s t . T r e a s ., M e r to n E . L ew is
Charles E . O rvls, V in ce n t H . S m ith , A . B . L a m b e r t o n , A n d r e w H . B row n
an d A lv in H . D e w e y .
The p u rch a se. It is sa id , in v o lv e d th e p a y m e n t o f
n early $ 3 0 0 ,0 0 0 . T h e re w ere th en o u ts ta n d in g $ 1 ,4 0 6 ,0 0 0 o f th e auth
issue or $2 500,000 1st M . 5s, d u e 1933, in terest M . & S . at W e st E n d T r u s t
C o ., P h ila d e lp h ia .
C om p a re V . 87, p . 938.
S t a n d a r d S a n ita r y M a n u fa c t u r in g C o ., P it t s b u r g h , P a . —
Indictments.— A F ed eral g r a n d ju r y a t D e t r o it o n D o c . 0
r e tu r n e d in d ic t m e n t s a g a in s t 16 c o m p a n ie s fo r m in g th e s o c a lle d “ b a t h -t u b ” tr u st a n d 32 o f th e ir o ffic e r s f o r a lle g e d
v io la t io n o f th e S h e rm a n a n t i-t r u s t la w .
T h e crim in al p roceed in gs, a c c o r d in g to a sta te m e n t Issued b y A t t o r n c y U eneral YVIckersham, are th e resu lt o f e v id e n c e a d d u c e d in th e civ il suit
b ro u gh t b y th e G o v e rn m e n t so m e tim e sin ce In th e F ed era l C ou rt at B a lti
m o r e. In w h ich hearings h a ve been held fo r s ix w eeks p a s t. C o m p a re
V . 91, p . 877.
S o u th e r n C a lifo rn ia G a s C o .— Bonds Deposited as ScOffity for Bonds of Pacific Light & Power Corporation.—
1.ins c o m p a n y w a s in c o r p o r a t e d in C a l. in O c t o b e r la s t w ith
8 1 0 ,0 0 0 ,0 0 0 o f a u t h . c a p ita l s t o c k in 8 1 0 0 sh a re s, c o n s is t in g
o f 8 6 ,0 0 0 ,0 0 0 c o m m o n a n d 8 4 ,0 0 0 ,0 0 0 6 % c u m . p r e f., o f
w h ic h only th e c o m m o n h a s b e e n issu e d , a m a jo r it y o f th is
b e in g o w n e d b y th e P a c ific L ig h t & P o w e r C o r p o r a t io n ), a n d
t o o k o v e r th e p r o p e r t y o f th e D o m e s t ic G a s C o
™y,M?„tn ° w . ° o m p a n y h a! m a d e a m o r tg a g e w ith th e T ru s t C o. o f A m e r ic a ,
as t iu s te e , to scour ca n issue o f $ 1 0 ,0 0 0 ,0 0 0 1st M . g o ld b o n d s, o f $] 000
e a c h . Interest ra te n o t to ex ce e d 6 % . d a te d N o v . 1 1910 and d u e in 1950
b u t c a lla b le In and a fte r 1915 at 105.
P ar $ 1 ,0 0 0 .
I n t. M . & N . in N Y
C ity . S in k in g fu n d su fficie n t to retire o v e r tw o -th ird s o f th e issue b efore
m a tu r ity .
B o n d s fo r $ 4 ,0 0 0 ,0 0 0 h a v e been p le d g e d as s e cu rity fo r b on d s
o f th e_P a cific L ig h t & P o w e r C o rp o ra tio n (see t h a t c o m p a n y und er " R a i l
ro a d s a b o v e ) and $6,0 0 0 ,0 0 0 are reserved fo r fu tu re a d d itio n s an d b e tte rm en ts.
P res. YV. G . K e rc k h o ff,: S e c ., L . M . F a rn liam ; T re a s. and C om p
tro lle r, A . N . K e m p . C o m p a re D o m e s tic G as C o ., V . 87, p . 1 6 6 6 ,and P a c.
L ig h t & P o w e r C o r p ., V . 90, p . 703.
S t a n d a r d M illin g C o . — New Mortgage.— T h e c o m p a n y h a s
filed w ith th e S ta te A u d it o r o f M in n e s o ta a n e w m o r tg a g e
fo r 8 1 2 ,0 0 0 ,0 0 0 .
A press d isp a tch says th a t th e m o r tg a g e c o v e r s , besides th e M in n eapolis
p ro p e rtie s, th e c o m p a n y ’s h o ld in gs at B u ffalo, S y ra cu se an d L y sa n d er,
N . Y ., S u p erior, W Is., an d s to c k In m a n y m ills In th e N o rth w e st; $ 1 ,0 5 2 ,0 0 0
H cc k c r -J o n e s -J e w c 1 M illin g C o. o f N ew J e rse y 1st M . 6s and $ 1 ,0 0 0 ,0 0 0
H eck cr-J o n e s-J e w e ll M illin g s t o c k .—-V . 91, p . 1711 .
T e m p le I r o n C o .— Decree Filed.— T h e U . S . C ircu it C o u rt
o f A p p e a ls a t P h ila d e lp h ia o n D e c . 20 filed its d e c r e e in c o n
fo r m it y w ith th e d e c is io n h a n d e d clow n o n D e c . 8 in th e s o ca lle d c o a l tr u s t ca s e .
S ee d e t a ils in V . 9 1 , p . 1547.
The
G o v e r n m e n t h a s a n n o u n c e d its in te n tio n t o a p p e a l to th e
S u p r e m e C o u r t fr o m th e d en ia l o f fu r t h e r ju d g m e n t a g a in st
th e r a ilr o a d s a n d o t h e r d e fe n d a n t s .
T h e T e m p le I r o n C o .
w ill a ls o a p p e a l.
, ,T il? T e m p le c o m p a n y and the railroads c o n tr o llin g th e sa m e a rc en
jo in e d fro m c o n tin u in g the co m b in a tio n , w h ich Is a d ju d g e d to be illegal and
rrom e n terin g in to a n y like c o m b in a tio n In restra int o f tra d e and c o m m e r c e
a m o n g the several S tates in an th ra cite coa l in v io la tio n o f th e In te r -S ta te
c o m m e r c e L a w . T h e railroads are restra in ed fro m ex e rcisin g a n y c o n tr o l
2X9,r, ^no T e m p le c o m p a n y or v o t in g o n their shares th erein o r c o lle c tin g
d iv id e n d s th e re o n , an d th e T e m p le c o m p a n y Is e n jo in e d fro m p e r m ittin g
th em to d o so.
T h e d e cre e co n ta in s th e fo llo w in g cla u se:
“ P r o v id e d , th a t n o th in g herein c o n ta in e d shall b e taken as p re v e n tin g
th e said d e fe n d a n t, th e T e m p le Ir o n C o ., fro m selling an d d isp o sin g o f th e
sn ates o f tne c a p ita l s to c k s , assets and pro p e rtie s o f tile N o rth w e st Coal C o .
E d g c r t o n Goal C o ., S te rrick Creek Coal C o ., B a b y lo n C oal C o ., M ou n t L o o k
o u t C oal C o ., I 'o r t y - l o rt Coal C o. .and L a ck aw an n a C oal C o ., L t d ., a c q u ir e d
b y it as h ere in b e fo re s ta te d a n d fo u n d t o h a ve been a cq u ire d b y it in v io
la tio n o f th e said A c t o f Cbngress t o b o n a fide p u r c h a s e r o r pu rch a sers,
n o t in p r iv it y w ith a n y o f th e d e fe n d a n ts herein and n o t su stain in g a n y
rela tion in interest, d ire ct or in d ire ct, b y trust o r o th erw ise, t o o r w ith a n y
o f said d e fe n d a n ts , and d is trib u tin g the rem ain d er, if a n y , o f th e p r o c c e is
th e r e o f, a fte r the p a y m e n t o f its b o n d e d an d o th e r In debtedn ess, a m o n g
th e h olders o f th e c a p ita l s to c k o f th e said d e fe n d a n t, th e said T e m n le
Ir o n C o.
P en d in g th e app eal o f th e c o m p a n y , it has been d e c id e d , it Is s ta te d . In
ord e r to brin g tile c o m p a n y ’s op e ra tio n s w ith in th e C ircuit C o u rt’s ru lin gs,
to d isassociate th e c o a l an d iron interests an d m an age each se p a ra te!v .
L ch o f the 15 collieries n o w op e ra te d b y th e Iro n C o m p a n y , hut in c o r
p o ra te d s e p a ra te ly , w ill be m an aged as an in d ivid u a l o r g a n iz a tio n , w ith its
o w n set o f o ffice rs.
C o n tro l rem ain s in th e sam e han ds an d o w n ersh ip d oes
n o t pass fro m th e T e m p le Iron C o ., b u t m a n a ge m e n t b y th e o ffice rs o f th e
Tem ple Iro n C o. is t o ce a se .
H o w e v e r , A . F. L a w , w h o has resign ed from
th e v ic e -p r e s id e n c y o f th e Iron C o m p a n y , b u t co n tin u e s a s. T reasu rer, be
co m e s the P residen t o f each o f the sep arate o p e r a tin g c o m p a n ie s , thus
rep resen tin g the Iro n C o m p a n y as m anager o f e a ch .
T h e p ro p o s e d plan
m eans th a t t h e co a l business o f th e c o m p a n y w ill be ca rrie d o n along lines
sim ilar to th a t o f th e L a ck a w a n n a an d o th e r c o a l ro a d s w h icli separated
th eir c o a l an d railroad interests as a result o f th e co m m o d itie s -e la u s c d e
c is io n .— V. 91, p . 1577.
T H E C H R O N IC L E
1778
Ten n essee C oal, Iron & R R . C o .— Listed.— T h e N e w Y o r k
S t o c k E x c h a n g e h as lis te d $ 2 ,7 1 0 ,0 0 0 a d d itio n a l gen era l M .
5 % b o n d s d u e 19 5 1, m a k in g th e to ta l liste d $ 7 ,0 8 2 ,0 0 0 .
T h e p ro ce e d s o f th e $ 2 ,7 1 0 ,0 0 0 b o n d s listed w ere used t o retire an e qu a l
a m o u n t o f D e B a rd ele b cn C oal & Ir o n C o . 1st M . 6s d u e F e b . 1 1010.
E a rn in g s f o r 10 M on th s ending O ct. 31 1910.
N et r c cts . a fter ord in a r y repairs & m a ln t., ta x e s & gen . e x p -------5 3 ,6 0 1 ,6 6 5
A llo w a n ce fo r ex h a u stio n o f m in erals a n d g e n . d e p r e c . o f p la n t s .
685 ,974
M a n u fa ctu rin g an d tra d in g p r o fit s ______________________________ 53,005,691
In terest o n bills r e c e iv a b le . In vestm en ts, & c ------------------------------140,383
D ivid en d s o n s to c k s o w n e d _________________________________________
18,019
T o ta l in c o m e ____________________________________________________ $ 3 ,1 6 4 ,0 9 3
D educt— I n t. on b on d s (ln c l. gu ar, b on d s) an d bills p a y a b le ------- 5645,831
In terest o n U . S . Steel C o rp o ra tio n lo a n s ________________________
490,004
D iv id en d s p referred s t o c k , 6 % _____________________________________
7,470
B a la n ce, surplus fo r 10 m o n t h s -------------------------------------------------5 2 ,020,788
T h e to t a l u n d iv id e d surplus D e c. 31 1909 w as 5 1 ,5 5 5 ,8 4 5 : a d ju stm e n ts
d u rin g 1910, 578 ,2 4 1 ; le a vin g to t a l u n d iv id e d surplus O ct. 31 1910 o f
5 3 ,4 9 8 ,3 9 2 .— V . 90, p . 307 .
[V O L . LX X XX I
p ro v id e d fo r th a t Issue, p a y a b le a n n u a lly a fte r th e Issuance o f the w h o ’ e
o r a n y part o f this series.
E stim ate o f E a rn in g s by J . C . M cD o w ell, Pittsbu rgh, S ep t. 26 1910.
ls f Y ea r.
2d Y ear.
L a ter on.
7 ,0 0 0 ,0 0 0
10,0 0 0 ,0 0 0 15,0 0 0 ,0 0 0
E s tim a te d sale o f gas (cu . f t . ) .......... ..
I n c o m e a t 12c. per 1 ,0 0 0 _______________
5 2 9 0,00 0
5 4 2 0,00 0
563 0,00 0
5 1 4 0,72 0
5 2 1 0,48 0
5 3 2 2,00 0
N et earnings fro m o p e r a t io n ___________
D ire cto rs: H . P rentiss T a y lo r (P res. II. P . '1'aylor & C o .) , P resid en t;
Jas. S c o t t (P re s. M e t. T r . C o ., P itts b u r g h ), V Ice -P re s.; T . A . G illespie,
N . Y . an d P it t s b .; A . B . C oh n , K a n e, P a .; R . W . S h o tts , L e e p er, P a .;
G eo. B . L u p cr (P res. C raw ford C o. T r . C o .), M ea d vllle, P a .; F . M . L o w r y
(V Ice -P re s. D o m in io n N a t. Gas C o .), P ittsb u rg h ; G eo. T . L a d d , P itts b u r g h .
A . L a w re n ce Is S e cre ta ry an d T reasurer.
T r iu m p h E le c t r ic C o ., C in c in n a ti, O .— Prcf. Stock Offered.
— T h e C en tra l T r u s t & S a fe D e p o s it C o . a n d th e F ift h -T h ir d
N a t. B a n k , C in c in n a ti, ( ) . , a n d W . E . H u t to n & C o ., C in
c in n a t i a n d N e w Y o r k , h a v e r e c e n tly b een p la c in g a t p a r
($ 1 0 0 a sh a re ) $ 2 2 5 ,0 0 0 o f th e 6 % c u m u la tiv e p r e f. s t o c k
(d iv id e n d s Q .-J . 15) o f th is w ell k n o w n c o n c e r n m a n u fa c tu r
in g e le c t r ic m o t o r s , g e n e r a to r s , ic e a n d r e fr ig , m a c h in e r y .
C on d en sed E x tr a c ts fro m C ircular.
C apitalization—
A u th orized . O u lsta n d g .
6 % cu m u la tiv e preferred s t o c k ________________________ 5 5 0 0,00 0
5 2 7 5,00 0
C o m m o n s t o c k __________________________________________ 750 ,0 0 0
540 ,000
O f this 527 5,00 0 p r c f. s to c k , o n ly 5 48 ,300 Is n o w o u tsta n d in g ; th e re
te lin g & C o ., C h ic a g o , are o ffe r in g a t p a r a n d in t. $ 5 0 0 ,0 0 0
m ain in g a m o u n t Is n o w offe re d fo r sale an d the pro ce e d s w ill bo used to
1st M . 6 % serial g o ld b o n d s o f th e T e x a s C ity C o ., w h ic h is liq u id a te th e n otes p a y a b le in cu rred In e re ctin g th e new plan t.
Strong F ea tu res.— (1) N o m o rtg a g e can be m ade n or fu rth er p r c f. s to c k
c o n t r o lle d b y th e s a m e in te re s ts as th e T e x a s C ity T r a n s
Issued w ith o u t co n s e n t o f 7 5 % o f preferred s to c k o u ts ta n d in g .
(2) P re
p o r t a t io n C o .
A c ir c u la r s h o w s:
fe rre d , b o th as to assets and d iv id e n d s, an d a c c u m u la tiv e .
In case o f d e
B o n d s d a te d N o v . 1 1910.
P a y a b le In sem i-an n u al series fro m M a y 1 fa u lt o n the p re f. d iv id e n d , th e entire v o t in g po w e r vests in p r c f s to c k
until th e d e fa u lt Is re m e d ie d .
(3) N o d iv id e n d s o n c o m m o n s to c k unless
1911 to N o v . 1 1918, b o th ln c l., 520 ,000 s .-a . in 1911, 550 ,000 s .-a ..M a y 1
th e surplus a c c o u n t exce e d s three yea rs’ d iv id e n d s o n p re f. s to c k o u ts ta n d
1912; th ereafter 535 ,0 0 0 s .-a ., bu t redeem able In th e reverse o f their n u m eri
ing (th e surplus Jun e 30 1910, 513 1 ,5 7 5 , w as e qu a l to 4 8 % o n th e 5275,000
c a l ord er o n N o v . 1 1911 an d a n n u a lly th ereafter a t 102 A an d in t.
Par
51,000 an d 5500 ( c * ) .
P rin cip al an d sem l-a n n . in t. p a y a b le at o ffic e o f p r e f.); n or until 5 5 ,000 is p aid fro m the earnings each y ear t o C en t. T r . &
P . H . & C o ., C h ica g o . A u g u stu s S . P e a b o d y Is trustee. T h e se b o n d s are S afe D ep. C o ., as trustee, as a fu n d t o ensure the p a y m e n t o f fu tu re p ref.
d iv id e n d s , the sam e to be in vested w ith a ccre tio n s and such p a y m e n ts to
secu red b y a c losed first m tg e . u p o n all the p r o p e r ty n o w o w n e d an d here
a fter to be a cq u ired b y th e T e x a s C ity C o ., In clu d in g 4,114 lo ts In to w n stte
be c o n tin u e d until there shall h a v e been set a sid e an a m o u n t equ a l
o f T e x a s C ity v a lu ed at 5 1 .4 3 9 ,9 0 0 : 770 acres o f in du stria l sites v a lu e d at
to three yea rs’ d iv id e n d s o n th e p re f. s t o c k .
(4) M odern p la n t w ith
5 7 7 0 ,0 0 0 , an d 1,763 acres o f a d jo in in g real e sta te at 5150 per a cre, 5 26 4,45 0; s te a d ily in crea sin g d e m a n d fo r p r o d u c t at h o m e an d a b r o a d .
(5) T h e
also Im p rovem en ts n o w bein g installed fro m p ro ce e d s o f these b o n d s, in
m a n agem en t o w n s p r a ctica lly th e en tire c o m m o n s to c k .
(6) P a ten ts and
c lu d in g steel firep roof o ffic e bu ild in g . 5 49 .000 ; h o te l bu ild in g , 550 ,0 0 0 ; sew er
g o o d -w ill n o t c a p ita liz e d .
(7) N et profits a v a ila b le fo r pref. d iv id en d s
s y s tem , 575 ,0 0 0 ; e lectric-lig h tin g p la n t an d d is trib u tio n lines, 5 50 ,000 ;
h a v e a vera ged fo r last ten years 541 ,9 7 1 . a lth o u g h d u rin g nin e years o f this
w a ter-w ork s s y s te m , 510 0 ,0 0 0 : also cash an d g o o d a cco u n ts r e c e iv a b le ,
p eriod the c o m p a n y o c c u p ie d its o ld In ad eq u ate qu a rters.
(8) A fte r liqu i
d a tin g the n otes p a y a b le w ith th e p ro ce e d s o f th e p re f. s to c k n o w offered ,
5 90 ,000 ; to ta l assets, 5 2 ,8 8 8 ,3 5 0 .
• • • ' )•
"'fJ
T h e 'P exas C ity C o. Is o w n e d b y th e sam e s tro n g Interests th a t o w n (and
th e net q u ic k assets w ill be 5 4 8 1,41 5 and to ta l net assets 589 2,5 11.
(9) '1'he
c o n tr o l the T e x a s C ity T r a n sp o rta tio n C o. an d th e T e x a s C ity 1’ crm ln a l Co.
net q u ick assets at all tim es to be In excess o f p rc f. s to c k o u tsta n d in g .
T h e presen t term inals a rc ca p a b le o f h a n d lin g o v e r 1 ,000,000 ton s o f freigh t
F o u n d e d in 1889.
In 1907, h a v in g o u tg r o w n its qu a rters, p u rch ased
per a n n u m , an d this c a p a c it y w ill be g re a tly in crea sed b y the co n s tr u c tio n
8 y acres at O a k le y , a su b u rb o f C in cin n ati, an d on this site has erected
o f a d d itio n a l facilities in th e Im m ed iate fu tu re . T h e T e x a s C ity R efin in g
a m o d e rn m a n u fa ctu rin g plan t; m ain b u ild in g 300 ft . lo n g , 140 ft. w ide
C o ., w ith a d a ily c a p a c ity o f 2,0 0 0 barrels o f refined o il, an d the Federal
and three stories h igh, w ith a ce n tre b a y opeti to r o o f and sp an n ed b y a
C em ent & T ile C o. arc n o w in a ctu a l o p e ra tio n , an d th e T e x a s C o tto n Seed
2 5 -to n tra ve lin g cra n e, w ith a 5 -to n a u x ilia ry h o ist and o th e r m odern c o n
C o. Is in stallin g a large plan t fo r the d cllu tln g an d cru sh in g o f c o t to n seed
ven ien ces: a d jo in in g b u ild in g 240 f t. lo n g b y 60 ft. w ide fo r p lp e d e p a r t m e n t.
a n d the m a n u fa ctu re o f co tto n -s e e d c a k e an d m eal. A large sugar refining
b lack sm ith sh op and brass fo u n d r y
11. & O . S. W . R y . sw tehes run In to
p la n t and several oth er im p o rta n t Industries arc in lm m e d la te c o n te m p la tlo n .
the v a riou s bu ildin gs, and th e P en n . R R . and N . & W . R y . are o n ly a b o u t
T h e large n u m b er o f a p p lica tio n s fo r Industrial sites, the en o rm o u s in
y2 m ile d ista n t.
In c o n iu n c tlo n w ith fo u r n e igh b o rin g fa cto rie s, a 515 0,00 0
crea se In th e ton n a g e o f the p o r t and th e d e v e lo p m e n t o f the to w n fro m a
pow er plan t (F a c to r y Pow er C o .— E d .) has been e r e cte d , w h ich su pplies
m ere h am let t o a c it y o f 3,0 0 0 pe o p le w ith in a few years has co m p e lle d the
ligh t, h e a t, p ow er, com p re sse d air and w ater t o each fa c to r y at c o s t.
T e x a s C ity C o. to take Im m ed iate steps fo r the in stallation o f m u n icipa l
Statem ent o f E arn ings Y early A v erage f o r Ten Y ears ended .Jan. 31 1901.,
Im p rov em en ts o f th e m o st m o d e rn ty p e . T h e pro ce e d s o f these b on d s
N et sales, after d e d u ctin g a llow a n ces an d unfinish ed c o n t r a c t s ------- 5 4 4 3,90 9
w ill be im m ed ia tely u tilized in b u ild in g streets, sidew alks and sow ers, in
Less m fg . c o s t, gen . e x p ., repairs, d e p re cia tio n o f e q u lp t ., &c —
3 43 ,115
the In stallation o f a c o m p le te w a te r-w o rk s sy ste m , ele ctric-lig h t p la n t and
G ross p ro fit fro m m a n u fa ctu rin g _____________________ ______ _________ 100,794
d is trib u tio n lines, a steel fir e p r o o f o ffic e bu ild in g In th e ce n tre o f the c it y
.Selling e xp en se (547,606) an d c o m m e rcia l e xp en se ( 5 1 1 ,2 1 7 ) -----58,823
fo r the a c c o m m o d a tio n o f ban ks, & c., an d an a ttr a c tiv e h otel b u ild in g on
the b a y fro n t fo r the a c c o m m o d a tio n o f tou rists an d visitors fro m the Interior
N et profit fro m o p e r a tio n s __________ ______________________________ 541,971
S ta te s , w h o v isit the G u lf C oast in large nu m bers.
Balan ce Sheet .June 30 1910.
T h e p roceed s fro m all land sales an d rentals an d o th e r in c o m e o f every
L ia b ilities ($975,912) —
A ssets (5975,912) —
s o r t w ill be d ep os ited w ith P e a b o d y , Ilo u g h te lln g & C o ., t o be a p p lied b y
56,506 N otes p a y a b le _________ — 5193,666
them in th e p a y m e n t o f all o p e ra tin g exp en ses, ta xes an d Insurance, an d In C a s h _________________ _______
83,371
N otes and a c c ts . r e c e iv a b le . 146,196 A c c o u n ts p a y a b le _____ . . .
th e p a y m e n t o f Interest an d p rin cipa l o f these b o n d s.
N o d iv id e n d s w ill
M aterials ($127,613) & p r o d . 332,676 C o m m o n s to c k o u ts ta n d in g 540 ,000
be p a id to s to ck h o ld e rs u n til all these b o n d s h a ve been re tire d , and P e a b o l y ,
27,300
In su ran ce, & c., paid i n a d v .
13,475 P ref. s to c k o u t s ta n d in g ____
Ilo u g h te lln g & C o. m a y , a t their d iscre tio n , use a n y surplus fu n d s rem ain
53,556
R eal estate ($17,618) A p lan t 445 ,760 R e s e r v e s _____________________
in g at the en d o f a n y y ear in retirin g the b o n d s in the reverse o f their
S
u
r
p
lu
s
_______________________
78,019
F
a
c
.P
o
w
.C
o
.
(5
3
0
,0
0
0
),
&
c
.
31,300
n u m erica l ord er at 102 y and interest.
D uring th e p eriod from .Jan. 24 1910
t o S e p t. 30 1910 the c o m p a n y so ld 209 lots fo r 510 3 ,2 0 4 , o r at an average
D ire cto rs.— W m . N . H o b a r t, P res.; E d w a rd R a w s o n , V Ice -P re s.; Jam es
price p er lot o f 549 3, w ith o u t a n y special e ffo rt o n th e c o m p a n y ’s part.
C. H o b a r t. S e c.: L ow ell F . H o b a r t. W . E . H u tto n .
T h e c o m p a n y n o w has a w ell orga n ized land selling d e p a rtm e n t an d Its In
U n ited Illum inating C o ., N ew H a v en , C onn.— New Stock.
c o m e from this s ou rce a lo n e sh o u ld be m a teria lly increased In the Im m e
d ia te fu tu re.
(C om p a re V . 90, p . 563; V . 91, p . 341.)
— T h e s h a re h o ld e rs h a v in g v o t e d t o in cre a se th e a u t h o r iz e d
Bonds Offered—Company
Allied to Texas City Transportation Co.— P e a b o d y , I io u g h T ex a s City
(T e x .)
C om p a n y .—
T extile Mills Corporation, N ew O rleans.— Sold at Auction.
T h e L a n e M ills a n d th e M a g in n is M ills in N e w O rlea n s w ere
s o ld o n J u ly 30 b y S p e cia l M a ste r W illia m G r a n t u n d e r o r d e r
o f th e U . S . C ircu it C o u rt fo r th e S o u th e r n D is tr ic t o f M iss,
(r e n d e r e d J u n e 2 a n d a m e n d e d
J u n e 2 5 ), a n d
w ere
b o u g h t in b y J o h n H . F u lt o n , V ic e - P r e s , o f th e C o m m e r c ia l
N a tio n a l B a n k o f N e w O rlea n s (a c t in g f o r h o ld e r s o f 2 d M .
b o n d s ), f o r a b o u t $ 7 7 ,0 0 0 .
T h e W es s o n M ills, lo ca te d a t W e s s o n , M iss., w ere sim ila rly so ld o n
A u g . 5 an d w ere bid In fo r 5250 b y S . O d e n h e lm cr, a gen t fo r th e secon d
m o rtg a g e b on d h old ers " w it h th e u n d e rsta n d in g th a t th e purch aser w ou ld
assu m e th e first m o r tg a g e In debtedn ess, w h ich a m o u n ts to a b o u t 5 3 0 0 ,0 0 0 .”
T h e to ta l b on d ed d e b t w as said to be 5 1 ,6 8 0 ,0 0 0 , o f w hich 5600,000 was
2d M. (V . 84, p . 4 5 3 ). T h e 1st M . b o n d s Inclu ded w ith o th e rs 5313.000
L ane M ills g old 5s d a te d 1904 and d u e M arch 1919, a n d 5 3 6 2,00 0 M aginnis
Mills 5s, d a te d 1905 an d d u e M arch 1925, Int. J. & J .
T h e L ane C o tto n Mills C o ., N ew O rleans, w as ln c o rp . o n o r a b o u t N o v . 5
w ith 590 0,00 0 c a p ita l s to c k [halt preferred a n d h alf c o m m o n ] an d o n N o v . 9
p la ced th e L ane m ill In o p e ra tio n m a n u fa ctu rin g d en im s a n d fa b rics fo r
w o rk in g m e n ’ s w ear. S. O d en h elm cr Is P re s.; M aurice S te rn , V lc c -P r e s .,
a n d I I . T . H o w a r d . S e cre ta ry -T re a su re r.— V . 90, p. 981.
T ri-C ou nty N atural G as C o ., P ittsb u rg h .— Bonds Offered.
— H . P . T a y l o r & C o ., N . Y . a n d P it t s b u r g h , a r c r e c e iv in g
s u b s c r ip t io n s fo r $ 6 0 0 ,0 0 0 series A b o n d s a t 100 a n d in t.,
o ffe r in g , s u b je c t to th e c o n d it io n s o f th e s u b s c r ip tio n a g re e
m e n t, a b o n u s o f 5 0 % in s t o c k .
A c ir c u la r s h o w s :
1st M . 6 % red eem a b le sin k in g fu n d g o ld b o n d s, free fro m t a x in P c n n a .,
d a te d N o v . 1 1910 an d d u e N o v . 1 1922, b u t ca lla b le In n u m erica l order at
110 an d in t. on a n y Int. p e rio d .
P a r 5100, 5500 and 5 1 ,0 0 0 .
[T rustee,
F id e lity T it le & T ru s t C o ., P Ittsb . T o ta l a u t h ., “ A , ” 5 6 0 0,00 0 " B . ”
5 4 0 0 ,0 0 0 — E d .]
,
.
In c o r p o r a te d In P a . A p ril 5 t910 and Is the su cce sso r, b y p u rch ase, o f
in d iv id u a ls, p artn ersh ip s an d co r p o r a tio n s w h ich h a v e been p r o d u c in g gas
fo r several years for a lim ited lo ca l co n s u m p tio n . T h e c o m p a n y ow n s
an d c o n tro ls (b y lease, & c.— E d .) upw ards o f 17,000 acres o f gas te rrito ry ,
situ a ted In C larion, F orest and E lk c o u n tie s, P a ., ra n gin g from B e a v e r
T o w n s h ip , C larion C o u n ty , o n th e so u th w e st, to the co rn e r o f M cK e a n
C o u n ty o n the n orh te a st, a d ista n ce o f a p p ro x im a te ly 40 m iles, and a b o u t
5 m iles w id e. 'I'lierc are at present 61 gas w ells,w ith an o p e n -flo w c a p a c ity
o f a p p ro x im a te ly 20, 000,000 c u . f t ., w ith r o o m fo r a g re a tly increased
p r o d u c tio n b y fu rth er d rillin g. T h e p ip e line w ill co n sist o f a p p ro x im a te ly
37 V, m iles o f 10-lnch, 3 m iles 6 -ln ., 30 m iles 4 -ln ., 14 m iles 3-In. and 5 m iles
2 -in . p ip e , w ith com p re ssin g s ta tio n an d plan t c a p a b le o f d e liv e rin g 1 0 ,0 0 0 ,
000 c u . ft. per d a y , at the requ ired pressure. Said p ip e line will e x te n d
th rou g h the cen tre o f at least 100,000 acres o f gas te rrito ry . T h e c a p a c ity
o f the p ip e line Can be in crea sed t o 15,000,000 c u . ft. per d a y b y c o m p a r a
tiv e ly In exp en sive a d d itio n s t o the co m p re s so r p la n t.
T h e c a p ita l Stock Is 5 1 .2 0 0 .0 0 0 , fu lly p a id , par 5100 per share, all d e
p osited w ith three trustees fo r eigh t years und er a " v o t in g trust a g re e m e n t.”
T h e m ortg a g e secu rin g 5 6 0 0,00 0 series A b o n d s p ro v id e s fo r a m in im um
sin kin g fu n d o f 5 5 0 ,0 0 0 , b e g in n in g N o v . 1 1912, and each year th ereafter,
w h ich shall be used fo r the retirem en t o f b o n d s. T h e m o rtg a g e furth er p r o
vides th at th e p roce e d s fro m th e sale o f the 540 0,00 0 series B b o n d s, re
m ain in g in th e treasu ry, shall b e used o n ly fo r th e a cq u is itio n o f new gas
p rop erties, exten sion s o f p lan ts an d Im p ro v e m e n ts at 8 5 % o f the c o s t o f the
s a m e. A n a d d ition a l sin k in g fu n d o f 1 0 % o f series B b o n d s o u ts ta n d in g Is
c a p ita l s t o c k fr o m $ 1 ,5 0 0 ,0 0 0 t o $ 2 ,0 0 0 ,0 0 0 , s t o c k h o ld e r s
o f r e c o r d D e c . 2 8 are o ffe r e d th e r ig h t t o s u b s c r ib e fo r $ 3 0 0 ,
0 00 o f th e n ew s t o c k a t p a r o n o r b e fo r e J a n . 2 0 t o th e e x t e n t
o f o n e sh a re fo r e v e r y fiv e n o w h e ld .
S u b s c r ip t io n s a re p a y
a b le in 2 5 % in sta llm e n ts , A p r il 1 a n d O c t . 1911 a n d 1912.
T h e p roceed s w ill b e used fo r e x te n sio n s and a d d itio n s . T h e s to ck h old ers
h a ve also a p p ro v e d p urchase o f F a irfield L ig h t & P ow er C o .— V . 8 7 , p . 1667
U nited States P laying Card C o ., Cincinnati and N ew Y o rk .
— Increase of Dividend.— W it h r e fe r e n c e to th e q u a r t e r ly
d iv id e n d a t th e in cre a s e d a n n u a l ra te o f 2 ) 4 % , d e c la r e d
p a y a b le J a n . 1, w e are in fo r m e d th a t th e sa m e a p p lie s o n th e
o u t s t a n d in g c a p ita l o f $ 3 ,0 1 2 ,0 0 0 a n d n o t o n $ 3 ,6 0 0 ,0 0 0 .—
V . 9 1 , p . 17 1 5.
U n ited States Steel Corporation.— Employees’ Bonus—
Stock Offered to Employees.— -The a n n u a l b o n u s b a se d o n
e a r n in g s , o ffe r e d to o ffic e r s a n d e m p lo y e e s fo r m e r ito r io u s
s e r v ic e , a m o u n t s th is y e a r to a b o u t $ 2 ,7 0 0 ,0 0 0 , p a y a b le 6 0 %
in c o m m o n s t o c k a t $ 7 0 a sh a re , a n d 4 0 % ' in ca s h .
The
fa c t s (1 ) as t o th is b o n u s , a n d (2 ) a s to th e e m p lo y e e s ’ rig h t
t o s u b s c r ib e fo r s t o c k u n d e r th e d e fe r r e d -p a y m e n t p la n a re
(1) A n n u a l B o n u s —
1910.
A m o u n t, a b o u t . . ------ 52, 700,000
In c o m m o n s t o c k . . 6 0 % at 70
In c a s h _____________ 4 0 %
1909.
5 2 ,0 0 0 ,0 0 0
14 0 % at 90: o r
1
1 4 0 % p r c f. at 1 2 4 /
60%
1908.
$ 1 ,5 0 0 ,0 0 0
5 0 % at 50
..................
50%
C o m m o i f a b o d t &4Cri6! * 2 , 500 ,000 a t 70
N on e
1,500,000 at 50
P referred , a b o u t A I - - * 2 , 5 0 0 , 0 0 0 a t l i t 2 ,5 0 0 ,0 0 0 at 124 1,800,000 at 110
* T h ese, it is ru m o re d , w ill be a b o u t the a m o u n ts .— V . 91, p . 1636. 1517.
W a te rto w n (S . D .) W a te r C o .— Bonds Called.— B o n d s
N o s . 2 6 a n d 176 are c a lle d f o r p a y m e n t a t th e E m p ir e T r u s t
C o ., N . Y . C it y , o n J a n . 1 19 1 1.
T h e c o m p a n y w as fo rm e d late in 1908 b y W a te rto w n m en , an d . h avln3
a cqu ired a 10-year fra n ch ise, t o o k o v e r th e w a ter-w ork s p r o p e r ty o f the
o ld W a te rto w n W a te r, P o w e r & L ig h t (co m p a re V . 91, p . 4 6 8 ), th e w ater
b e in g p u m p e d fro m L a ke K a m p e sk a , a dista n ce o f 4 m iles.
W e e d Lum ber C o., San Francisco and W e e d , C al.— Bonds
Offered.— C la rk I,. P o o le & C o ., C h ic a g o , o ffe r e d o n D e c . 22
a t p a r a n d in t ., to n e t 6 % in c o m e , th e e n tir e a u th o r iz e d issue
o f $ 1 ,2 0 0 ,0 0 0 1st M . 6 % serial g o ld b o n d s .
A c ir c u la r
s a v s in s u b s ta n c e :
,
. . ,
T h is issue o f b o n d s Is th e d ir e ct o b lig a tio n o f o n e o f the largest m a n u
factu rers o f pine lu m ber, sash, d o o r s a n d b o x e s o n the P a cllle C oa st, and It
Is secured b y a first m o rtg a g e o n 8 0 0 ,1 8 2 ,0 0 0 ft. o f C aliforn ia w h ite pine
tim b e r 50 000 acres o w n e d In fee and a b o u t 3,5 0 0 acres o f lo n g -te rm tim ber
deeds lo ca te d In S isk iy o u C o .. C al.: c o m p le te saw m ill, sash and d o o r pla n t
and b o x fa c to r y co s tin g $ 1 ,2 5 0 ,0 0 0 , an d on th e en tire to w n site o f W e e d ,
w ith all bu ild in gs, dw ellin gs, & o.
•
Dec. 31 1910.1
T H E C H R O N IC LE
T h e c o m p a n y has bee n establish ed fo r m a n y years; It Is la rg e ly o w n ed
b y G eorge X . W c n d lin g , P resid en t, and S . O . J o h n s o n , V ic e -P r e s id e n t, w h o
a rc lu m b erm en o f large w ealth an d w ith 15 t o 20 y e a r s ’ su ccessfu l e xp e ri
en ce In th e lu m b er business. T h e m ill p ro p e rtie s a r c lo c a te d o n th e m ain
line o f th e S ou th ern P a cific R y . at W e e d , C a l., an d th e tim b e r lands arc
c o m p le t e ly Intersected b y th e C a liforn ia N o rth e a ste rn R y ., a bra n ch o f th e
S o u th e rn P a cific , an d w h ich . It is u n d e rs to o d , w ill e v e n tu a lly b e m a d e th e
m ain line fro m San F ra n cisco to P o r tla n d . T h e c a p a c it y o f th e tw o saw
m ills Is 75 ,0 0 0 ,0 0 0 f t. a n n u a lly . T h e sash an d d o o r p la n t an d b o x fa c to r y
Is c a p a b le o f m a n u fa ctu rin g Into th e finished p r o d u c t — sash, d o o rs and b o x
s h o o k — 100 ,000 ,00 0 f t. o f lu m b e r a n n u a lly , o r m o re th a n th e en tire o u t
p u t o f th e tw o saw m ills.
B a lan ce Sheet J u ly 31 1910 (C om piled by P r ic e , W aterh ouse & C o .).
A ssets ($ 4,491,914) —
L ia b ilities ($ 4 ,4 9 1 ,9 1 4 ) —
T im b e r lands a n d c o n tr a c ts
C apital s t o c k ______________ $1 ,9 5 0 ,0 0 0
a t $2 50 p er 1,000 f t . . . ? 2,121,477 N otes p a y a b l e ____________
488 ,246
M ills, log g in g railroad s,
A c c o u n t s p a y a b l e ________
203 ,466
to w n slte , & c ________
. 1 ,279,782 I n t. an d ta x e s n o t d u e . . .
16,317
In v e n to r ie s ----------------------657,551 B o n d s (see b e l o w ) ________
437 ,500
A c c t s .r c c . (lc s s r e s ’v e , &c~)
194,306 R e se rv e fo r d e p r e c ia t io n ..
2 32 ,777
Cash a d v a n c e s . I n v e s t.,& c .
212 ,122 S u r p lu s ____________________ 1,163,608
In s u r a n c e p rem iu m u n e x p .
15,421
Cash t o red eem b o n d s ____
11,255
T h e p ro ce e d s o f this b o n d Issue w l 1 b e used to p a y o il all in d e b te d n e ss.
In clu d in g th e b o n d Issue m e n tio n e d in th e a b o v e fin a n cial s ta te m e n t, an d
w ill lea v e th e c o m p a n y w ith o v e r $ 1 ,0 0 0 ,0 0 0 o f q u ic k assets.
T h e n ew b on d s are Issued un d er a m o rtg a g e m a d e t o th e F irst T r u s t &
S a v in g s B a n k an d E m ile K . B o ls o t, C h ica g o , tru stees. T h e c o m p a n y m u st
d e p o s it w ith th e tru stee $2 50 per 1,000 f t . , lo g sca le , fo r all tim b e r c u t.
T h is d e p o s it w ill o p era te t o p a y olT th e e n tire b o n d Issue w h en a b o u t 6 0 %
o f th e ou ts ta n d in g tim b e r has been cu t.
B o n d s d a ted O ct. 1 1 9 1 0 an d d u e $ 50 ,000 s e m i-a n n u a lly fro m M a y 1 1 9 1 1
t o N o v . 1 1922, b o th ln c l., b u t c a lla b le , all o r a n y , a t a n y Interest p e rio d
on 60 d a y s ’ n o tice , a t 1 0 2 )4 a n d ln t .
P a r $500 an d $ l,0 0 0 c * .
W e s t in g h o u s e M a c h in e C o ., P i t t s b u r g h .— Plan Approved
— H o ld e r s o f o v e r 9 5 % o f th e $ 6 ,4 7 3 ,0 0 0 3 -y e a r 6 % c o l
la te r a l n o te s d u e J a n . 1 1911 h a v e a p p r o v e d th e p la n o f -t h e
c r e d it o r s ’ c o m m it t e e s u b m itt e d D e c . 1 f o r e x t e n d in g th e
issu e f o r th re e y e a r s u p o n s u b s titu tio n as c o lla t e r a l o f n ew
3 0 -y e a r 6 % m t g e . b o n d s a t 9 0 % o f th e ir p a r v a lu e , p a r t o f an
issue o f a b o u t $ 8 ,2 0 0 ,0 0 0 .— V . 9 1 , p . 15 1 8, 16 3 6, 1715.
( V a .) M o ld & F o u n d r y C o .— Dividends Re
sumed.— A d iv id e n d o f 2 % (r e p o r t e d a s q u a r t e r ly ) h a s b e e n
d e c la r e d o n th e $ 5 0 0 ,0 0 0 s t o c k , th e first s in c e th e 2 % q u a r
te r ly d is t r ib u t io n p a id in J a n . 19 0 8.
C om p a re V . 91, p.
3 4 2 ; V . 8 4 , p . 2 8 0 , 108.
W h e e lin g
1779
a n d w as o r ig in a lly U llm a n n & W r e n n .
T h e presen t p a r t
n ers are J o h n I I . W r e n n , L a w r e n c e N e w m a n a n d W a lt e r
B . S m ith .
M r. W r e n n , w h o is in p o o r h e a lth , is sa id t o h a v e
m a d e k n o w n s o m e tim e a g o his in te n tio n t o re tir e a t th is
tim e .
K in g , F a r n u m & C o . w ill r e m o v e fr o m th e ir p r e se n t
q u a r te r s in th e C o rn E x c h a n g e B u ild in g t o th e o ffic e s o f
W r e n n & C o . in th e R o o k e r y B u ild in g .
— J . S . F a rle e & C o ., a t 11 W a ll S t ., N e w Y o r k , a n d th e
C o n n . M u tu a l L ife B ld g ., H a r t fo r d , C o n n ., a re d e s ir o u s o f
d e a lin g w ith in v e s to r s o r b r o k e r s in th e s e v e n b o n d s a n d
s t o c k s w h ic h t h e y a d v e r tis e t o b u y o r sell in t o - d a y ’s issu e .
T w o o f th ese ite m s are F o u r t h N a tio n a l B a n k a n d F id e lit y
T ru st C o. sto ck s.
J . S . F a rlee & C o ., es ta b lis h e d in 1 8 8 2 ,
are m e m b e r s o f th e N e w Y o r k S t o c k E x c h a n g e a n d a lw a y s
h a v e se cu r itie s f o r c o n s e r v a t iv e in v e s tm e n t o n h a n d .
The
s e n io r m e m b e r o f th e fir m , J . S . F a r le e , h as ju s t c o m p le t e d
his 3 8 th y e a r o f b u s in e s s in W a ll S t r e e t.
H e n r y L . F in c h
a n d W ilb u r S . T a r b e ll are his a s s o c ia te p a r tn e r s.
n ~ T h \ n e w s t ° c k E x c h a n g e firm o f I lir s c h , L illie n th a l &
C o . h as b e e n o r g a n iz e d a n d w ill o p e n o ffic e s a t 115 B r o a d
w ay on Jan. 3.
T h e firm is c o m p o s e d o f C h arles S . H ir s c h ,
m e m b e r o f th e N . Y . S t o c k E x c h a n g e , a lso a d ir e c t o r a n d
m e m b e r o f th e e x e c u t iv e c o m m it t e e o f th e I n te r n a tio n a l
S te a m P u m p C o . a n d fo r m e r ly P r e s id e n t o f th e H ir s c h L u m b e r C o . a n d th e Y e llo w ' P in e E x c h a n g e ; J o s e p h L . L illie n t h a l,
a t p r e se n t a m e m b e r o f th e firm o f I I . P . G o ld s c h m id t & C o .,
a n d T h e o d o r e B e r n s te r n , h it h e r t o a s s o c ia te d w ith J . S .
B a c h e & Co. T h e n e w firm w ill tr a n s a c t a g en era l s t o c k
e x c h a n g e a n d in v e s t m e n t b u s in e s s .
— O u r re a d e r s c a n c o n v e n ie n t ly a s c e r ta in w h e r e m o s t o f
th e J a n . 1 in te r e s t c o u p o n s a n d d iv id e n d s a re p a id b y p e r u s
in g th e a d v e r tis in g c o lu m n s o f th is w e e k ’s issu e o f th e
“ C h r o n ic le .”
T h e la r g e s t d is b u rs e rs o f th ese c o u p o n s a n d
d iv id e n d s a re f o llo w in g p r e v io u s c u s t o m b y a d v e r t is in g th e
p a y m e n t s p r o m in e n t ly in th e “ C h r o n ic le .”
S o m e o f th e s e
a d v e r tis e r s a re: N . W . H a r ris & C o ., K o u n t z e B r o t h e r s ,
W in slow ', L a n ie r & C o ., th e U n ite d S ta te s M o r t g a g e & T r u s t
C o ., th e C en tra l T r u s t C o ., th e T r u s t C o . o f A m e r ic a , th e
F a r m e r s ’ L o a n & T r u s t C o ., th e N e w Y o r k T r u s t C o ., & c .,& c .
W h ip p le C ar C o .—Bonds Offered.— T h e W e s te r n T r u s t &
S a v in g s B a n k (th e tr u s te e ), C h ic a g o , h a s r e c e n t ly b e e n p la c
in g $ 2 8 8 ,0 0 0 534j% g o ld c a r tr u s t b o n d s o f th is M a in e c o r
p o r a t io n .
D a te d F e b . I 1911, b u t d u e in m o n t h ly in sta ll
— C. E . D e n iso n & C o ., o f 4 P o s t O ffic e S q u a r e , B o s t o n ,
m e n ts fr o m J u ly 1 1911 t o M a rch 1 1916, $ 5 ,0 0 0 m o n t h ly
e x c e p t th e la s t p a y m e n t , $ 8 ,0 0 0 .
I n t . F . & A . a t o ffic e o f a n d G u a rd ia n B ld g ., C le v e la n d , O ., a re t o - d a y a d v e r tis in g
U p o n re q u e s t a d e
sa id tr u s te e a n d a t C h ase N a t. B a n k , N . Y .
A c ir c u la r s a y s : a s e le c t e d list o f b o n d s in th is issu e .
s c r ip t iv e c ir c u la r w ill b e m a ile d .
T h e b o n d s th is c o n c e r n
T h e c ° m p an y ow n s th e N ew Y o r k D isp a tch R e fr ig e ra to r L in e , o p e ra te d
o y e r th e N ew Y o r k C h ica go & S t. L ou is an d W est S h o re ra ilroad s from
h a s t o o ffe r are c o n v e n ie n t ly g r o u p e d in th is c ir c u la r t o showC h ica g o an d p oin ts w est t o N ew Y o r k C ity , a n d th e N a tion a l D e sp a tch
in w-hat S ta te s th e y a re leg a l in v e s tm e n t s f o r s a v in g s
R e fr ig e ra to r L in e, o p e ra tin g o v e r th e G rand T ru n k a n d B o s to n & M aine
railroad s fro m C h icago an d p o in ts w est to N e w E n g la n d .
N et resou rces
banks.
T h is e x a c t in g r e q u ir e m e n t m a k e s th e m , at th e
o f $ 1 ,0 2 4 ,3 9 2 a b o v e all liab ilities.
N et av e ra g e earnings fo r th e p a st five
p r ic e s q u o t e d , a n a t t r a c t iv e in v e s t m e n t f o r c o n s e r v a t iv e
years o f $ 1 6 5 ,8 6 1 . T h ese b o n d s are s p e cia lly secu red b y a first an d o n ly
lien u p o n 300 steel u n d erfra m e re frig e ra to r ca rs, c o s tin g $ 36 0,00 0.
p r iv a t e in v e s to r s , s a v in g s b a n k s , tr u s te e s a n d g u a r d ia n s .
— T h e N e w Y o r k S t o c k E x c h a n g e h o u s e o f B c r t r o n , G risc o m & J e n k s o f N e w Y o r k a n d P h ila d e lp h ia t o - d a y a d v e r
tise in th e “ C h r o n ic le ,” a n d o ffe r f o r in v e s tm e n t w ith th e
h ig h e s t r e c o m m e n d a t io n , th e b o n d s o f fiv e p u b lic se r v ic e
c o rp o ra tio n s^ w h ic h w ill re tu rn th e in v e s t o r a n in c o m e o f
5 % to 5 .7 5 % .
T h e c o m p a n ie s w h o s e b o n d s are th u s o ffe r e d
are o p e r a t e d b y e x p e r ts c o n n e c t e d w ith th e fir m ’s o r g a n i
z a t io n , e n su rin g e ffic i e n t a n d e c o n o m ic a l m a n a g e m e n t.
T h e firm s ta te s t h a t th e y are s p e c ia lis ts in th a t cla ss o f b o n d s
a n d a re n o t s im p ly b o n d m e r c h a n ts , b u t o w n a n d o p e r a t e
th e c o m p a n ie s , a n d c o n s e q u e n t ly c a n o ffe r a c a r e fu lly se
le c te d list o f p u b lic s e r v ic e c o r p o r a t io n b o n d s to y ie ld a
h ig h e r re tu rn th a n th o s e u su a lly o ffe r e d t o in v e s to r s .
As
e v id e n c e o f th e g r o w th in p o p u la r it y o f th is cla ss o f b o n d s ,
B c r t r o n , G r is c o m & J e n k s call a tt e n t io n in th e ir a d v e r tis e
m e n t t o a r e c e n t r e p o r t o f th e C o m p tr o lle r o f th e U . S .
T r e a s u r y s ta t in g th a t th e b a n k in g in s t itu tio n s o f th e c o u n t r y
h e ld o n J u n e 30 1910 p u b lic s e r v ic e c o r p o r a t io n b o n d s
a m o u n t in g to $ 4 9 2 ,9 0 0 ,0 0 0 , an in cre a se o f $ 2 3 ,0 1 7 ,6 6 8 o v e r
th o se o f 1909.
— W e h a v e r e c e iv e d p r o o f s h e e ts o f M essrs. S a n fo r d &
K e lle y ’ s a n n u a l r e v ie w o f th e m a n u fa c tu r in g a n d g e n e r a l
b u sin e ss o f N e w B e d f o r d , M a s s ., f o r th e y e a r 1 9 1 0 .
T h is
a n n u a l c ir c u la r , b e s id e s g iv in g a r e v ie w o f th e y e a r ’s b u s i
n ess, c o n ta in s in fo r m a t io n
as to
d iv id e n d s , r a n g e o f
p r ic e s , & c ., fo r N e w B e d fo r d m ills , b a n k s a n d m isc e lla n e o u s
c o r p o r a t io n s .
M essrs. S a n fo r d & K e lle y , 21 P le a s a n t S t .,
N ew' B e d fo r d , m a k e a s p e c ia lt y o f d e a lin g in th e s e c u r itie s
o f all lo c a l c o m p a n ie s .
— “ W h a t C o n stitu te s a G o o d I n v e s t m e n t ? ” is th e title o f a
n e a t p o c k e t b r o c h u r e issu ed b y th e P u b lic it y D e p a r t m e n t o f
th e G u a r a n ty T r u s t C o . o f th is c i t y .
In s id e o f its 14 p a g e s
th e r e are m a n y u sefu l h in ts o f v a lu e t o b o t h th e in e x p e r ie n c e d
a n d e x p e r ie n c e d in v e s t o r .
F r e e c o p ie s m a y b e h a d o n a p p li
c a t io n .
A d d r e s s F . W . E llsw 'orth , M a n a g e r o f th e P u b lic it y
D e p a r t m e n t , G u a r a n t y T r u s t C o ., 2 8 N a s s a u S t ., N e w Y o r k
— J a n u a r y 9 b e in g t a x - d a y in N e w Y o r k S t a te , P ly m p t o n .
G a rd in e r & C o . a re o ffe r in g o n a n o t h e r p a g e a lis t o f b o n d s
w h ic h , u n d e r r e c e n t ly -e n a c t e d le g is la t io n , ca n b e m a d e e x
e m p t ’ fr o m all fu r t h e r p e r so n a l t a x b y th e p a y m e n t o f
o n ly $ 5 p e r b o n d .
F u ll in fo r m a t io n in r e g a r d t o th is p r o c e d
u re, a n d a lso d e ta ils o f th e s e c u r ity o f e a c h issu e, w ill b e
g iv e n u p o n r e q u e st.
— A s is u su al a t th is tim e o f th e y e a r , N . W . H a rris & C o .,
b a n k e r s o f th is c i t y , a d v e r tis e o n a n o t h e r p a g e a n a t t r a c t iv e
list o f J a n u a r y in v e s tm e n t s w h ic h are s u it a b le fo r th e re
q u ir e m e n ts o f p r iv a te in v e s to r s , b a n k in g in s t itu tio n s a n d
— P o r t e r , F is h b a c k & C o ., C h ic a g o , in v ite a t t e n t io n t o
e s ta t e s .
T h e s e le c tio n o ffe r e d b y th e firm in c lu d e s 28 b o n d s th e ir o ffe r in g s o f firs t m o r tg a g e b o n d s t o n e t th e in v e s t o r
o f th e h ig h e s t cla ss o f r a ilr o a d , c o r p o r a t io n a n d m u n ic ip a l a b o v e 5 % a n d in s o m e ca ses a b o v e 6 % .
T h e H a r lin g e n
s e c u r itie s .
T h e in te r e s t y ie ld t o th e in v e s t o r ra n g es fr o m
L a n d & W a te r C o . 6 % b o n d s r e fe rre d t o in th e a d v e r t is e
3 .9 0 % t o 5 .3 0 % .
T h e firm in v ite s c o r r e s p o n d e n c e in re g a rd m e n t w ere d e s c r ib e d in th e “ C h r o n ic le ” issu e o f M a y 14.
t o th ese b o n d s , a n d w ill a ls o b e g la d t o fu r n is h d e t a ile d p a g e 12 9 8.
in fo r m a t io n o n o v e r 2 0 0 o th e r b o n d issues f o r in v e s tm e n t .
I n v e s t o r s s e e k in g a g o o d in v e s tm e n t w ill b e in te r e s te d
A d d r e s s th e h o m e o f fic e o f N . W . H arris & C o ., P in e S tr e e t,
in th e b o n d o ffe r in g a d v e r tis e d o n a n o t h e r p a g e t o - d a y b y
c o r n e r o f W illia m , N e w Y o r k C it y , o r th e b r a n c h o f fic e ,
th e firm o f F r a n c is R a ls t o n W e ls h , in v e s tm e n t b o n d d e a le r ,
35 F ed era l S t ., B o s t o n , o r th e b o n d d e p a r t m e n t o f th e H arris
a t 1 09-111 S o u th F o u r t h S t ., P h ila d e lp h ia .
S ee a d v e r tis e
T ru st & S a v in g s B a n k , C h ic a g o .
m e n t fo r d e ta ils a n d o u r “ G en eral I n v e s t m e n t Newrs ” d e
W.
E . H u t t o n & C o . w ill o c c u p y n e x t w e e k th e ir h a n d
p a r t m e n t fo r fu r t h e r p a r tic u la r s o f th is p r o p e r t y .
s o m e n e w b a n k in g o ffic e s a t th e c o r n e r o f W a ll a n d B r o a d
— A t 100 a n d in te r e s t W h it e , W e ld & C o . o f 5 N a ssa u S t .,
s tr e e ts .
G e o r g e D . B a k e r a n d W . D . H u t to n a re th e N ew
l o r k m e m b e r s o f th is o ld e s ta b lis h e d b o n d a n d S t o c k E x New' Y o r k , a n d th e R o o k e r y , C h ic a g o , are o ffe r in g th e u n s o ld
c h a n g e h o u s e , M r. H u t t o n b e in g th e fir m ’s r e p r e s e n ta tiv e b a la n c e o f $ 1 ,2 5 0 ,0 0 0 C a lu m e t & S o u th * C h ic a g o R y . C o . 1st
For
oh tlie E x c h a n g e .
M r. B a k e r u n til a fe w y e a r s a g o w as m o r tg a g e r e h a b ilita tio n g o ld 5 % b o n d s , d u e 1927.
m a n a g e r o f I s id o r e N e w m a n & C o .’s o f fic e a t 2 5 B r o a d S tr e e t, p a r tic u la r s as t o th e s e c u r it y , p r o p e r t y a n d e a rn in g s , see th e
a n d u p o n th is fir m ’ s r e tir e m e n t fr o m N e w Y o r k th e b u sin e ss a d v e r tis e m e n t e lse w h e re in th e “ C h r o n ic le .”
wa-i tu r n e d o v e r to h im a n d in tu rn tr a n s fe r r e d to W . E .
H u tto n & C o. w hen he b eca m e a p a rtn er.
H u n te r W v k e s
fo r m e r ly o f th e firm o f S tr e e t, W y k e s & C o ., is th e n ew
m a n a g e r o f th e N e w Y o r k o ffic e o f W . E . H u t t o n & C o .
,. — "h e firm o f J o h n I I . W r e n n & C o . o f C h ic a g o w ill be
d is s o lv e d o n J a n . 1, its b u sin e ss b e in g ta k e n o v e r b y K in g ,
F arn u m & C o.
T h e d is s o lv in g firm w a s e s ta b lis h e d a b o u t
f o r t y y e a r s a g o ; its n a m e h as se v e ra l tim e s b e e n c h a n g e d ,
— T h e b a n k in g h o u s e o f C la rk , D o d g e & C o ., 51 W a ll S t .,
is o ffe r in g fo r J a n u a r y in v e s tm e n t fiv e v e r y c h o ic e issu es o f
b o n d s , w h ic h will y ie ld th e in v e s to r fr o m 3 .7 7 to 4 . 4 3 % .
F u ll d e ta ils will b e fu rn is h e d u p o n re q u e st.
— A t t e n t io n is ca lle d t o th e list o f W e s te r n m u n ic ip a l
b o n d s a d v e r tis e d o n a n o t h e r p a g e b y T h o m a s J . B o lg e r C o .,
C h ic a g o .
F u ll p a r tic u la r s r e g a r d in g a n y o f th e issues w ili
b e s e n t o n a p p lic a t io n .
[VO L
T H E C H R O N IC L E
1780
LXXXXl
C O T T O N
g p u e
( j k m
v n u m
C O M M E R C IA L
u l
'J i m
c s .
E P IT O M E .
F r i d a y N ig h t , D e c . 30 19 1 0.
T h e tr a d e o f th e c o u n t r y c o n tin u e s to m a r k t im e , th e
g e n e ra l s e n t im e n t, in o th e r w o r d s , still b e in g c o n s e r v a t iv e .
I r o n , steel a n d o th e r m e ta l tr a d e s are in f a c t d u ll.
B u ild
in g o p e r a t io n s in s o m e le a d in g citie s are o n a n o t ic e a b ly
sm a lle r sca le th a n a y e a r a g o .
O n th e o th e r h a n d , th e
c o u n t r y is e n jo y in g th e fru its o f g o o d c r o p s , fo r w h ich lib era l
p r ic e s are b e in g r e c e iv e d .
_
L A R D o n th e s p o t h as d e c lin e d m o d e r a t e ly , o w in g to
d e p r e s s io n in th e m a r k e t fo r fu t u r e s a t th e W e s t , in cre a s e d
a rriv a ls o f liv e h o g s a t s o m e d e c lin e in p r ic e s a n d d u ln e ss o f
trad e.
P r im e W e s te rn 1 1 c ., M id d le W e s te rn 1 0 .9 5 c . a n d
C it y , s te a m , 1 0 ^ c .
R e fin e d la r d h a s b e e n fa ir ly a c tiv e
a n d firm w ith o ffe r in g s lig h t .
R e fin e d C o n tin e n t l t . 4 0 c . ,
S o u th A m e r ic a 1 1 .9 0 c . a n d B ra zil in k e g s 1 2 .9 0 c .
S p ecu
la tio n in la rd fu tu r e s h ere in N e w Y o r k h as b e e n a t a s ta n d
still.
A t th e W e s t th e s p e c u la t io n h as b e e n a c t iv e w ith
p r ic e s ir r e g u la r , b u t o f la te th e t e n d e n c y h as b e e n d o w n
w a r d , o w in g t o a la r g e r m o v e m e n t o f liv e h o g s l o m a r k e t ,
se llin g b y p r o m in e n t p a c k e r s a n d liq u id a t io n b y r e c e n t b u y
e rs.
S h o r t in te r e s t h a s a p p a r e n t ly b e e n la r g e ly e lim in a t e d .
D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S IN N E W YORK.
S a t.
M on.
lu es.
W ed.
T h urs.
b ri.
R o ll11-00
J n 'm
i n -4°
J a n u a ry d e liv e r y ..............11.05
M a y d e liv e r y ..................... 10.74
day
10.60
1 0 .4o
10.40
10.45
D A I L Y C L O S IN G P R I C E S O F L A R D F U T U R E S IN C H IC A G O .
S a t.
M on.
lu es.
W ed.
Thurs.
F r i.
J a n u a ry d e liv e r y _______ 10.80
H o ll10-70
in f - ^
M a y d e liv e r y ___________ 10.37 14
day
1 0 .3o
10.07
1 0 .l o
10. l o
P O R K o n th e s p o t h as b e e n q u ie t a n d s te a d y .
M ess
$21 5 0 @ $ 2 2 , cle a r $ 2 0 @ $ 2 2 a n d fa m ily $ 2 3 @ $ 2 4 5 0 .
B eef
h as b e e n q u ie t a n d s t e a d y ; m e ss $ 14 5 0 @ $ 1 5 ; p a c k e t $ 1 6 @
$1(5 50; fa m ily $ 17 5 0 @ $ 1 8 50 a n d e x t r a In d ia m ess $ 3 0 .'
C u t m e a t s h a v e ru le d s te a d y w ith tr a d e d u ll; p ic k le d h a m s ,
re g u la r , U ^ @ 1 4 c . ; p ic k le d b e llie s , c le a r , 1 4 ^ @ 1 7 j ^ c . ,
a n d p ic k le d rib s 1 3 % @ 1 5 j ^ c .
T a llo w h as b e e n du ll a n d
s te a d y a t 7 > ^ c. fo r C it y .
S te a rin e s h a v e b e e n q u ie t a n d
firm ; o le o 9 K @ 9 M c . a n d lard 1 2 @ 1 2 ^ c .
B u tt e r h as b e e n
in m o d e r a te d e m a n d a n d s te a d y ; c r e a m e r y e x tr a s 2 9 j ^ @ 3 0 c .
C h eese q u ie t a n d s t e a d y ; S t a te , w h o le m ilk , c o lo r e d o r w h ite ,
S e p t, fa n e v , 1 5 j^ c .
E g g s d u ll a n d e a s y ; W e ste rn firsts 3 3 @
3 4c.
“
.
.
. „
O I L . — L in se e d h as b e e n d u ll b u t fir m , o w in g to sm all
s u p p lie s o f s e e d .
C it y , r a w , A m e r ic a n s e e d , 9 0 @ 9 l c . ;
b o ile d 9 1 @ 9 2 c . ; C a lc u tt a , r a w , $ 1 .
C o t t o n se e d h a s b e e n
in fa ir d e m a n d a n d g e n e r a lly s te a d y ; w in te r 7 . 7 5 @ 7 .9 0 c .;
s u m m e r w h ite 7 . 4 0 @ 7 . 7 5 c .
C o c o a n u t h a s b e e n q u ie t a n d
s lig h tly ea sie r, o w in g t o s o m e in cre a se in s to c k s ; C o ch in
1 0 M @ 1 0 yH
e.] C e y lo n 9 M @ 9 . 3 0 c . O liv e h as b e e n q u ie t
a n d s te a d y a t 9 0 @ 9 'c .
C o rn h a s b e e n m o d e r a t e ly a c t iv e
a n d s t e a d y a t G .8 5 @ 6 .9 0 c .; ca r lo a d s 0 .8 5 c ., 2 0 d a y s s h ip
m en t.
L a r d h as b e n q u ie t a n d firm ; p r im e 9 5 c . @ $ 1 ; N o . 1
e x tra G 5 @ 7 0 c.
C o d h a s b e e n in m o d e r a te d e m a n d a n d
s t e a d y ; d o m e s t ic 5 3 @ 5 5 c . ; N e w fo u n d la n d 5 5 @ 5 8 c .
C O F F E E o n h e s p o t h a s b e e n q u ie t a n d e a sie r.
R io N o . 7
1 3 J 4 @ 1 3 % c . ; S a n to s N o . 4 , 1 3 % @ F 3 ^ c . W e s t In d ia
g r o w t h s h a v e b e e n q u ie t a n d g e n e r a lly s te a d y ; fa ir to g o o d
C u cu ta , 1 4 % @ 1 4 K c .
T h e s p e c u la tio n in fu tu r e c o n t r a c t s
h as b e e n less a c t i v e a n d p r ice s h a v e m o v e d ir re g u la rly w ith in
n a r r o w lim its .
O f la te th e tr e n d o f th e m a r k e t h a s b een
u p w a r d in th e m a in , h o w e v e r , o w in g to u n fa v o r a b le c r o p
r e p o r t s fr o m B r a z il, b u llish r e p o r ts fr o m th a t c o u n t r y re
g a r d in g th e s p o t s itu a tio n a n d b u y in g h e re b y tr a d e in te re s ts.
O n all b u lg e s , h o w e v e r , liq u id a tio n h a s b e e n n o tic e a b le fo r
lo c a l a n d o u ts id e a c c o u n t .
C lo s in g p r ic e s w e re as fo llo w s :
D e c e m b e r _______________
J a n u a r y _________1 1 .2 0 c.
F e b r u a r y _______ 11.2 5 c.
M a r c h ___________ 11.32c.
A p r i l ....................... 1 1 .2 2 c .
M ay
_ ______ 1 1 .1 4 c.
J u n e ____________ 1 1 .0 9 c.
J u ly _____________1 1 .0 5 c.
A u g u st - . . . ------- 1 1 .0 0 c .
S e p t e m b e r ............1 0 .9 5 c.
O c t o b e r ................ 1 0 .8 5 c.
N o v e m b e r ________1 0.82c.
Friday Night, Dec. 30 1910.
T H E M O V E M E N T O F T H E C R O P as in d ic a t e d b y o u r
te le g ra m s fr o m th e S o u th t o -n ig h t is g iv e n b e lo w .
F o r th e
w eek e n d in g th is e v e n in g , th e to ta l r e c e ip ts h a v e r e a c h e d
2 9 8 ,6 6 4 b a le s , a g a in s t 3 6 1 ,0 6 9 b a les la st w e e k a n d 4 1 7 /2 0 1
b a le s th e p r e v io u s w e e k , m a k in g th e to ta l r e c e ip ts s in c e
S e p t. 1 1910 5 ,9 9 3 ,5 6 8 b a le s , a g a in st 5, 079,271 b a le s
fo r th e sa m e p e r io d o f 1909, s h o w in g a n in cre a se s in c e S e p t. 1
1910 o f 9 2 4 ,2 9 7 b a le s .
R eceip ts a t—
P o rt A r t h u r ------T e x a s C ity , & c ._
N ew O rle a n s------G u lfp o r t _________
J a ck s o n v ille , & c.
S a v an n ah _______
B r u n s w i c k _____
G e o r g e t o w n ____
W i lm i n g t o n ____
N ’ p o r t N ew s, &c.
S a t.
M on.
TllCS.
W ed.
13,338
10,391
23,744
16,509
T hurs.
16*675
14,750
F r i.
Total.
11,723
90,455
2,000
12,681
3,836
717
11,115
9,489
" 40
150
18,636
3", 113
10,205
775
9,104
1,869
1,015
3,1 0 5
1,593
______
______
8,638
10,527
2,154
6,271
2,000
588
4,237
7,359
1,900
2,150
08,636
3,836
12,012
10,205
968
4 7 ,777
9,359
7,4 5 4
4,0 7 0
0,689
1,520
4,701
1,080
1,707
12,397
25,100
” 97
167
” 281
089
5,598
” 444
2,173
5,598
100
193
1,462
1,350
2,145
5,521
3*046
” 530
6,422
. . . .
” "50
647
16
242
428
B a ltim ore _____
P h i l a d e l p h i a ___
______
______
” ” 86
" ” 50
T o ta ls this w e e k .
57,475
26,766
41,039
71,148
—
48,428
53,808 298 ,664
T h e fo llo w in g s h o w s th e w e e k ’ s to ta l r e c e ip ts , th e to ta l
s in c e S e p t. 1 1 9 1 0 , a n d th e s t o c k s t o -n ig h t ,c o m p a r e d w ith
la s t y e a r :
1910.
R eceipts to
D ec. 30.
This
w eek.
G a lv e s to n ________
P o r t A r t h u r _____
N ew Orleans___
G u lfp o rt ________
M o b i l e ___________
P e n sa co la ____ __
J a ck s o n v ille , <Scc_
G e o rg e to w n
N o rfo lk .
------—
.-
B o s t o n ..
—
B a ltim o re ________
P h ila d e lp h ia ____
S in ce Sep
1 1910.
90,455 2,0 5 9 ,3 8 9
94,921
200 ,876
2,150
947 ,434
68,636
12,325
3,836
183,886
12,012
68,649
10,205
16,651
968
47,777 1,111,070
109,450
9,359
246,672
7,454
698
333,639
12*. 3 97
441 ,924
25,100
2,784
____
4,200
444
22,592
2,173
71,258
5,598
100
150
1909.
This
w eek.
S in ce Sep
l 1909.
63,392 1 ,780,243
80,453
11,926
25,771
1,237
705 ,995
37,385
7,981
169,343
4,058
90,492
512
29,478
1,747
19,617 1,104,149
450
189,009
4,6 4 6
186,840
784
75
270,663
7,283
368,694
12,345
10,519
1, 136
3,273
270
4,7 1 5
28
39,636
4,382
627
—
S tock.
1910.
1909.
258,168
_______
_______
221,303
4,184
63,117
----------_______
191,455
2,941
45,508
171,841
—
—
176,380
723
;>1,651
—
—
116,050
21,241
3 «1,316
22,840
33,710
_ _ ------289,089
1,801
10,402
10,548
22,490
40,725
—
152,707
0 ,0 0 5 ’
13,217
2,4 2 5
T o t a l ___________ 298 ,664 5 ,993,568 170,789 5,069,271 1,156,092
809,671
I n o r d e r th a t c o m p a r is o n m a y b e m a d e w ith o t h e r y e a r s ,
w e g iv e b e lo w th e to t a ls a t le a d in g p o r ts fo r s ix s e a so n s :
R eceipts at—
1910.
1907.
1900.
24,2 5 i
115,993
8,289
107,3 11
7,105
33,184
23,649
2,820
5,842
17,316
297
18,398
113,812
17,722
89,834
8,671
41,783
2,487
1,752
5,546
17,504
3,768
0,006
45,859
3,985
39,405
2,887
21,514
11,389
1,250
2,181
7,028
526
9,434
202,772
340 ,2 4 0
311,945
146,367
1908.
99,422
2,481
09,137
8,440
27,702
10,492
2,236
7,717
14,894
23,324
298,664
170,789
90,455
2,150
68,636
12,012
47,777
9,359
7,454
12,397
25,100
T o ta l this w lt.
S in c c S e p t. 1
1909.
63,392
13,163
37,385
4,058
19,617
450
4,721
7,2$3
12,345
1,436
6,939
G a lv e sto n . .
P t. A rth u r, & c.
N ew O rlean sM ob ile Savannah —
B ru n sw ick
C h arleston
W ilm in g t o n - .
N o rfo lk _
N ’ p ort N.
A ll o t h e r s ____
1905.
5,993.508 5,009,271 6 ,2 5 4 ,1 5 5 5 ,1 0 2 ,3 0 6 6 .009,988 5,2 0 0 .8 4 0
T h e e x p o r t s fo r th e w e e k e n d in g th is e v e n in g r e a ch a to t a l
o f 2 4 9 ,3 8 3 b a le s , o f w h ich 1 0 6 ,2 6 6 w ere to G re a t B rita in ,
6 2 ,0 9 7 t o F r a n c e a n d 8 1 ,0 2 0 to th e rest o f th e C o n tin e n t .
B e lo w a re th e e x p o r t s fo r th e w e e k a n d sin c e S e p t. I 1910.
S U G A R .— R a w h a s b e e n q u ie t a n d s t e a d y .
C e n tr ifu g a l,
Week ending Dec. 30 1910. From Sept. I 1010 lo Dec. 30 1910.
9G -d eg rees te s t, 3 .9 8 j ^ c .; m u s c o v a d o , 8 9 -d e g r e e s te s t,
Exported to—
Exported to—
3 . 4 8 j 4 c . a n d m o la s s e s , 8 9 -d e g r e e s te s t , 3.23]A>c.
R e fin e d
Exports
Conti
Great
Great I
I Conllfro m —
h as b e e n q u ie t a n d s t e a d y .
G r a n u la te d 4 .8 0 c .
Teas have
Total.
nent.
Total. Britain. IFrance
Britain. F r ’ nce'. nent.
b e e n q u ie t a n d firm .
S p ice s h a v e b e e n in m o d e r a te d e m a n d
207,545 615,860 1,537,199
a n d g e n e r a lly fir m .
H o p s s tr o n g w ith a n in cre a sed tr a d e . G a lv e sto n ------ 8,05213.547 20,410 42,009, 713,791
94,921
53,573
15,559 25,789
Port A r th u r .. .
9,450 173,517
13,262
150,80
P E T R O L E U M .— P rice s h a v e b e e n s te a d y w ith tr a d e q u ie t . Texas City. &c.
465.438 84,394 166,504 716,336
R e fin e d b a r r e ls 7 .4 0 c .; b u lk 3 .9 0 c . a n d ca se s 8 .9 0 c .
G a s o New O rleans.. 41,600 26,290 26,412 94,302
92,017
35,296
38,010 18,711
10,000
6,700 3,300
M o b ile..............
15,675
68,751
32,633 20,443
10,205
lin e h as b e e n firm a n d m o d e r a t e ly a c tiv e ; 8G -d egrees in 100- P e n sa co la ------ _____ 10,205
8,141
3,625
4,516
8,141
g a llo n d r u m s , 1 8 % c .; d r u m s , $8 5 0 e x t r a .
N a p h th a h as G u lfp o r t......... 4,516 3,625 9,840 40,187
571,241
268,537
69,660
233,044
Savannah ____ 26,097 4,250
137,969
57,484
80,485
b e e n in fa ir d e m a n d a n d s te a d y ; 7 3 @ 7 G -d e g r e e s in 100- Brunswick------ 6,339
5,196 11,535
91.300
70,451
10,949 9,900
g a llo n d r u m s , 1 6 M c .; d r u m s , $8 50 e x t r a .
S p irits o f tu r Charleston-----151,200 296,818
11,323 11,323 113,543 32,01
ilm ington___|
11,848
p e n tin e h as b e e n d u ll b u t firm e r a t 8 0 j^ c .
R o s in h as b e e n W
.1
1,448
10,400
N o r fo lk ---------'
q u ie t b u t firm e r; c o m m o n t o g o o d s tr a in e d $6 15.
Newport News
3315,169
lbV.doi
51,303
183,205
11,641
2,820
880
New Y o rk ----- j 7,9-11
70,310
6,313
T O B A C C O .— P r ice s fo r d o m e s tic le a f h a v e ru led fir m . Boston
70,997
5,021
5,021
______
52,749
39,328
3,204
10,217
3,273 3,273
T r a d e h as b e e n q u ie t a n d lim ite d c h ie fly t o sm all p u rch a se s B a ltim o re-----33,010
2,428
30,582
100
100
o f C o n n e c t ic u t a n d P e n n s y lv a n ia le a f.
T h e r e is still a Philadelphia . .
Portland, M e ..
30.56*1
30,501
d is p o s it io n t o lo o k f o r a n im p r o v e m e n t in b u s in e s s a fte r th e San Francisco.
19,604
19,604
750
750
Seattle ---------tu rn o f th e y e a r .
H a v a n a a n d S u m a tr a q u ie t a n d fir m .
. 7,335
7,335
896
896
T a co m a --------400
400
C O P P E R " h a s b e e n w e a k in t o n e , th o u g h w it h o u t q u o t e d
Portland, Ore.
ch ange.
Lake
1 2 ^ @ 1 2 % c .;
e le c t r o ly t ic 1 2 ^ @ 1 2 . 6 0 c .; P e m b in a -------'s o o
D etroit-----c a s tin g \2}4@l2% c.
I t is r e p o r te d th a t sales h a v e b e e n
T o t a l ........... 106,266 62,097 81,020 219,383 2,164,677 539,851|l,652,108j 4,356,036
m a d e in E u r o p e a t e q u a l t o 1 2 .5 5 c ., n e t f . o .b . N e w Y o r k ,
fo r e le c t r o ly t ic .
L e a d h as b e e n du ll a n d s te a d y a t 4 . 4 5 @
Total 1909____1 40,350 24,751401,069 166,170 1.401,978 717.7201,581*978;3,701.682
4 .5 5 c .
S p e lte r h as b e e n w e a k e r a t 4 .4 0 © 4 .4 7 3 ^ c .
T in
I n a d d it io n to a b o v e e x p o r t s , o u r te le g ra m s to -n ig h t a ls o
h as b e e n q u ie t a n d easier; s p o t 3 8 .1 2 3 ^ c .
I r o n has b e e n
q u ie t a n d s te a d y ; N o . 1 N o r t h e r n 815 2 5 @ 8 1 5 75; N o . 2 g iv e us th e fo llo w in g a m o u n t s o f c o t t o n o n s h ip b o a r d , n o t
W e a d d s im ila r fig u res f o r
S o u th e r n
$15 2 5 @ $ 1 5 5 0 .
F in is h e d
m a te ria l
h as b e e n c le a r e d , a t th e p o r ts n a m e d .
N ew Y o r k .
q u ie t w ith s o m e d e s c r ip tio n s w e a k e r .
.
On S h ipboard, N ot Cleared Jor—
D ec. 30 at—
G er
m an y.
Great
Britain . F ra n ce
9,101
Other
Foreign
Coast
w ise.
2,857
26,192
9,000
N ew Y o r k ____
O th er p orts —
"io o
10,000
l '.206
T o ta l 191 0. .
T o ta l 1 9 0 9 ..
T o ta l 1 9 0 8 ..
97,299
57,057
05,309
49,314 49.008
23,058 3 3 ,1 0 4
31,044 104,584
48,299
30,005
28,050
19,017
F U T U R E S .— T h e h ig h e s t, lo w e s t a n d c lo s in g p r ic e s a t
N e w Y o r k th e p a s t w e e k h a v e b e e n a s fo llo w s :
Total.
176.420
131,436
173,605
39,568
32,039
21.350
287 ,189
33.722
10,837 200 ,757
52,998 196,942
12,603 241 .590
895 ,3 3 5
612,729
829 ,1 0 4
3,5 0 0
7,200
10’ 665
L ea vin g
S tock.
177 44,937
5,000 126,732
1,100 17,850
6,000
500
700 3 1,078
9,360 12,300
2,800
19,000
12,922
34,177
19,820
42,310
7.150
2,000
12,513
3.000
1,500
9.000
N ew O r le a n s ..
G a lv e s t o n ------S a v a n n a h ------C h a r le s t o n .. . .
1781
T H E C H R O N IC L E
Dec. 31 1910. ■
o a r 1o t a § Q s i S . o 5 r § o a f
jq ?
B? I 35
w P jq ?
S*
*5 .
B*
wP
q
B*
oqP
B«
7qP
» 3 .o » 2
5S
«qP
053^ q s j ?
I B§
w? P Hi P
<rc P
g»^
n?
bg
>C
«-cC“
S p e c u la t io n in c o t t o n fo r fu t u r e d e liv e r y h a s b e e n o f m o d
e r a te p r o p o r t io n s a t g r a d u a lly d e c lin in g p r ic e s , o w in g p r in
>0
c ip a l ly to th e c o n tin u a n c e o f la rg e r e c e ip ts a t th e p o r t s a n d
in te r io r to w n s .
T h e s e h a v e h a d m o r e e ffe c t fr o m th e
fa c t th a t p r e d ic t io n s h a v e b e e n h e a r d fo r w e e k s p a s t th a t
tU>U 4-4th e m o v e m e n t w a s a b o u t to d im in ish s h a r p ly .
1 r a d e in
bo bo
C*C*
th is c o u n t r y is still r e p o r te d in a n u n s a t is fa c t o r y c o n d it io n .
o w
Fall R i v e r ’s w e e k ly sales o f p r in t c lo t h s are sm a ll a n d ta lk
I®
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is b e c o m in g m o r e fr e q u e n t ly h e a r d o f c u r ta ilm e n t o f p r o
4- 4- 4- £»■
C* OX
w
d u c t io n in N e w E n g la n d , if n o t e ls e w h e re , in th e e a r ly p a r t
^135
o f 19 1 1.
W h a te v e r fo r e ig n s p in n e rs m a y b e d o in g , th e
4- 4- 4- 4—
4—4— Ci 4- Cl I
m ills in th is c o u n t r y a re sa id to b e b u y in g in th e m o s t s p a r in g
■si ■*! a ox
C>C*
w ay.
F u r t h e r m o r e , ru m o rs h a v e b e e n rife o f la te th a t th e
r>3
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n e x t g in n in g r e p o r t, e x p e c t e d J a n . 10, w ill s h o w figu res p e r
4- 44-4WW
C
1
h a p s c o n s id e r a b ly la rg e r th a n th e g e n e r a lity o f p e o p le h a v e
bb
c* o
ct Cl
S
i
b e e n a n t ic ip a t in g .
T h is o f itse lf h a s c a u s e d n o t a little
4- 44- 4- Ci Ci
s e llin g .
A n o th e r d e p r e s s in g f a c t o r w a s th e c o n tin u e d d u lC5Cl
be bo l*
{J
ness o f th e s p e c u la tio n a n d th e a p p a r e n t ly o v e r b o u g h t c o n
W
wo w
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d it io n o f th e m a r k e t .
T h is re s u lte d in n ot a fe w o p e r a t o r s
4—4- 4- 44-4- Cl Cl Cl ci
se llin g o u t th e ir h o ld in g s in d is g u s t, th e w e a k n ess b e in g
bo bo 1+ U
b»b bs 0
e s p e c ia lly n o tic e a b le o n T u e s d a y a n d W e d n e s d a y .
W e llw -i 0 0
C1C«
k n o w n S o u th e r n in te re sts a re s u p p o s e d t o h a v e s o ld p r e t t y
4-4- 4-405 CO
1 i
£ —
1 1
fr e e ly a n d L iv e r p o o l q u o t a t io n s s h o w e d n o t e w o r t h y w e a k
be bo
00 to
COW
n ess.
Still a n o t h e r a d v e r s e f a c t o r h as b e e n th e r a p id ly in
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cre a sin g s t o c k a t N ew Y o r k , w h ich is n o w sa id to b e th e
Cl Cl ci
Cl Cl Cl Cl 4a. ci
J- 4w w
la rg e s t fo r s e v e n y e a r s p a s t a n d is c e r t a in ly a g o o d d ea l in
! u jox 1 1 S S
1 1
e x c e s s o f th a t o f a y e a r a g o .
T h e a c c u m u la t io n o f so la rg e a
1 s
I I
1 t
1 1
s u p p ly h e re g iv e s rise to m o r e o r less a p p r e h e n s io n as to
Ci
w h a t m a y u ltim a te ly b e d o n e w ith it .
M o r e o v e r , T e x a s h as,
to
0
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a c c o r d in g to p r iv a t T ^ fc ^ u t c h e s , h a d g e n e ra l ra in s, a n d O k la
w
w
h o m a a p p e a r s to h a v e b e e n s im ila r ly fa v o r e d .
R e c e n t ly ,
it will be re m e m b e r e d , s o m e stress w a s la id o n r e p o r ts th a t
1 Ox
II
I S
1 1
th e fall o f w in te r ra in s in T e x a s h a d b e e n d e fic ie n t.
The
a d v o c a t e s o f lo w e r p r ice s b e lie v e , m o r e o v e r , th a t th e c r o p is
T H E V I S I B L E S U P P L Y O F C O T T O N t o - n ig h t , as
b e in g u n d e r e s t im a t e d , a n d th a t w ith th e w id e s p r e a d d is p o m a d e u p b y c a b le a n d te le g r a p h , is a s fo llo w s .
F o r e ig n
s itio n to w a r d s e c o n o m y , th e p r o b a b le y ie ld th is s e a so n will be s t o c k s , as w ell a s th e a flo a t , a re th is w e e k 's r e tu r n s , a n d
a m p le fo r all r e q u ir e m e n ts .
I n a n y ca se it is a r g u e d th a t c o n s e q u e n t ly all fo r e ig n fig u r e s a re b r o u g h t d o w n t o T h u r s
th e p re se n t r e la t iv e ly h igh p rice s d is c o u n t a n y t h in g th a t d a y e v e n in g .
B u t to m a k e th e to ta l th e c o m p le t e fig u res
m a y be c o n s id e r e d at all b u llish in th e s itu a tio n
M a n ch e s te r
1 it t h e e x p o r t s o f F r i d a y o n l y .
has c o n tin u e d to se n d r e p o r ts o f s tr o n g p r ic e s a n d a g o o d
U n ite d S ta te s , in
d e m a n d , e x p o r t s fr o m th is c o u n t r y h a v e b e e n lib e r a l, th e
1908.
1907.
1909.
1910.
Decem ber 30 —
937 ,000
824 ,0 0 0
L iv e r p o o l s p o t sales h a v e b e e n o f v e r y fair v o lu m e , le a d in g S to c k at L iv e r p o o l .
.b a le s . 975.000 1,054,000
15,000
10,000
0,000
6,000
S
to
c
k
at
L
o
n
d
o
n
s p o t in te re sts h a v e b e e n b u y in g h e re , s p o t q u o t a t io n s a t th e
54,000
44,000
70,000
93.000
S to c k at M anchester
S o u th h a v e b e e n as a ru le r e p o r te d firm a n d sp in n e rs h a v e
8 9 3 ,0 0 0
991 ,000
.1 ,0 7 4 ,0 0 0 1,130,000
T o ta l G reat B ritain s t o c k .
b o u g h t fu tu r e s , it is s a id , to s o m e e x t e n t .
R u t th e p o lic y
10,000
14,000
4,000
.
3,000
S to c k at H a m b u r g ______ —
309 ,0 0 0
o n th is sid e o f th e w a te r is o n e o f c a u t io n .
N o t o n ly is it S t o c k at B rem en
400 ,000
274 ,000
. 247 .000
--------------203 ,000
275
,000
467,000
.
185,000
S
to
ck
at
H
avre
_.
—
sa id th a t th e lo n g d r o u g h t in th e S o u th w e s t h a s b e e n
4,000
3.000
3,000
2,000
S to ck at M arseilles
-----..
b r o k e n , b u t a lso th a t p r e p a r a tio n s o n a n e x t e n s iv e sca le are S to c k a t B a rce lo n a — -----20,000
3 4 ,000
9,000
8,000
18,000
42,000
58,000
33,000
S
t
o
c
k
at
G
enoa
.
.
.
.
.
.
.
—
a lr e a d y b e in g m a d e o r c o n s id e r e d fo r th e n e x t c r o p in T e x a s ,
24,0 0 0
4,000
1,000
-------- -----O k la h o m a a n d A rk a n sa s , w h ere it se e m s lik e ly th e re w ill b e S to c k at T rieste
594
,0 0 0
7
7
8
,0
?0
816
,000
478,000
a n in cre a se in th e a c r e a g e .
F r o m p r e v a ilin g h igh p r ice s it is
in fe rr e d th a t e v e r y e ffo r t w ill b e m a d e to raise la rg e c r o p s in
.1 ,5 5 2 ,0 0 0 1,946,000 1 ,709,000 1 ,487,000
T o t a l E u ro p e a n s to ck s .
78,000
75.000
144,000
th is c o u n t r y , E g y p t , I n d ia , R u ss ia , C h in a , M e x ic o , P e r u o r In d ia c o t to n a !lo a t for E u r o p e . . 120,000
940 ,080
957,568
511,852
w h e r e v e r else c o t t o n is ra ise d .
T o - d a y p r ice s d e c lin e d e a r ly A m c r . c o t to n alloa t fo r E u ro p e . .. 882,072
78,000
58,000
79,0 0 0
35,000
E g y p t ,B r a z il.& c..a flt.fo r E u rop e
253 ,000
239 ,000
293 ,000
o n d is a p p o in tin g c a b le s , b u t la te r th ere w a s a n a d v a n c e on S to c k In A le x a n d ria , E g y p t . . . . 292,000
416 ,0 0 0
259 ,000
504 ,000
323,000
.
th e p r o m p t s t o p p in g o f 1 0 0,000 J a n u a r y n o tic e s , b u y in g , b y S to c k In B o m b a y , I n d i a . .
809,071 1 ,070,700 1 ,041,329
1 ,156,092
to c k In U . S. p orts - - - - - -
558 ,095
s p in n e rs a n d s p o t in te re sts a n d c o v e r in g o f s h o r ts .
L iv e r S
935,102
799,068
803 ,1 4 0
S to c k In U . S . Interior tow n s
21,904
41,979
29,118
89,357
p o o l a lso ra llie d .
S p o t c o t t o n h ere h as b e e n chill.
M id d lin g U . S . e x p o r ts t o - d a y .....................
u p la n d c lo s e d at 1 5 c., s h o w in g a d e c lin e fo r th e w e e k o f 15
T o ta l visible s u p p ly — ------------ 5,362,961 5,017,709 5 ,459.349 4 ,8 7 3 .4 0 8
p o in ts .
O f the a b o v e , to ta ls o f A m erlc an and o th e r de scrip tio n s arc as follow s:
ertcan—
T h e o ffic ia l q u o t a t io n fo r m id d lin g u p la n d c o t t o n in th e L ivAem
7 1 1 ,0 0 0
831 ,000
952 ,0 0 0
852 ,000
r p o o l s to c k ---------------- bales
13,000
35,000
02,000
09,000
N e w Y o r k m a rk e t e a ch d a y fo r th e p a s t w e e k h a s b e e n :
M anch ester s t o c k ------------------------ .
D ec. 2 1 to D ec. .30 —
M id d lin g u p la n d s.
NEW
1 9 1 0 .C____
19 0 9 _____
1908. _ .
1907.
1 90 0. . . .
190 5.
190 1..........
1 9 0 3 ______
-
Snt.
H.
M on .
II.
T u e s.
14.05
W ed.
14.05
T h ors.
14.05
Frl.
15.00
Y O R K Q U O T A T I O N S F O R 32 Y E A R S .
.1 5 .0 0
.1 0 .1 0
. 9.35
.1 1 .8 0
.1 0 .0 5
.1 1 .9 0
. 0.95
.1 3 .5 0
1 9 0 2 .C . . .
1 90 1____
1 9 0 0 ____
18 9 9 ____
1 89 8____
1 89 7. . .
18 9 0 ____
1 8 9 5 ____
8 .9 0
. . 8.44
.10 .3 1
. . 7.09
. . 5.88
. 5.94
._ 7.00
. . 8.2 5
189 l .C -----1 8 9 3 ............
1 8 9 2 ............
1891 ____
1890
...
1889 _____
1888
1 88 7_______
. 5.7 5 1 8 8 0 .c _____ 9 .4 4
1 8 8 5 __________9.19
. 9.88 183 1 ________ 11.00
. 7.75 1883 _______ 10.44
. 9.19 1 8 8 2 ............ .1 0 .2 5
.1 0 .2 5 18 8 1 ________ 12.00
t . . . 11.88
9.75 1880
.1 0 .5 6 1879
12.50
M A R K E T AN D SALES AT N E W Y O R K .
T h e to ta l sales o f c o t t o n o n th e s p o t e a c h d a y d u r in g th e
w e e k at N ew Y o r k a re in d ic a t e d in th e fo llo w in g s ta t e m e n t.
F o r th e c o n v e n ie n c e o f th e re a d e r w o a lso a d d c o lu m n s w h ic h
sh o w at a g la n c e h o w th e m a rk e t fo r s p o t a n d fu tu r e s clo s e d
o n sa m e d a y s .
S a t u r d a y ..
M o n d a y ___
T u esd ay . .
W ed n esd a y
T h u r sd a y .
F r i d a y ___
T o ta l
Spot M arket
Closed.
F u tu res
M arket
Closed.
Q uiet 20 p ts d e c ____
Q u i e t _______ _______
Q u i e t _________ _____
Q uiet 5 p ts a d v ____
H O L ID A Y .
H O L ID A Y .
S t e a d y ----------S te a d y .............
S t e a d y ----------S t e a d y .......... ..
..
C on tin en tal s t o c k ------------------------A m e rica n atloat fo r E u r o p e -----U . S . p o r t s t o c k s -----------------------U . S . Interior s t o c k s -------------------U . S. e x p o rts t o -d a y ---------- -------T o t a l A m e r i c a n ..•---------E ast In d ia n , B razil, &c.~
L o n d o ti s t o c k -----M anchester s t o c k .
C on tin en tal s t o c k .
_ 448 ,000
832,072
.1 ,1 5 0 ,0 9 2
. 803 ,4 4 0
_
89,357
3 ,9 4 7 ,7 0 9 4 ,0 0 2 ,3 4 9 3 ,8 3 0 .6 4 8
i
.
183,000
.
.
2 4 ,000
30,0 0 0
125,000
79,000
292 ,000
323,000
.
E g y p t . B razil, & c.. a llo a t _____
S to c k In A le x a n d ria , E g y p t . . . .
S to c k In B o m b a y , I n d ia ----------- .
T o ta l
A m e r ic a n ____
515 ,000
731,000
781 ,000
940 ,0 8 0
957,568
511,852
809,071 1,070,700 1 ,041,329
558 ,095
935,102
799,008
21,964
41,979
29,118
6,000
102,000
0,000
8,000
32,090
144,000
35.000
239,000
504,000
____
9,200
300
400
4,700
____ 14,600
9,200
300
400
4,700
14.000
113,000
15,000
11,000
7 9 ,000
7 8 ,0 0 0
78,000
253 ,000
416 ,000
8 57 ,000 1,0 4 3 ,0 0 0
1,003,000 1 ,070,000
.4 ,3 5 9 ,9 0 1 3 ,9 4 7 ,7 0 9 4 ,6 0 2 ,3 4 9 3 ,8 3 0 ,4 6 8
T o t a l v isib le s u p p ly .......... ............5,382,901 5 ,0 1 7 ,7 0 9
M id dlin g U p la n d , L iv e r p o o l_____
8 .0 7 d .
8 .5 0 d .
M id d lin g U p la n d , N ew Y o r k ____
1 5 .0 0 c.
1G.10C.
E g y p t , G o o d B r o w n , L I x c r p o o l ..
11 H d .
14 ‘A d .
Sales o f S p ot and Contract.
P e ru v ia n , R o u g h G o o d , L iv e r p o o l
lO.OOd.
O.sOd.
B ro a ch . F in e, L iv e r p o o l_________ 1 l l - 1 6 d . 7 l l - 1 0 d .
1 T In n e v e lly , G o o d , L iv e r p o o l--------Cm C on
7% d.
7Jf d.
S p ot. sum 'n . tract. Total.
_ ___
106,000
10,000
9,000
47,000
75,000
53,000
293,000
259 ,000
5,4 5 9 .3 4 9 4 ,873.408
6 .1 3 d .
4 .9 9 d .
1 1.40e.
9 .3 o c .
10 l i d .
8 13-10d .
1 1 .5 0 d .
7 .7 o d .
ll-1 6 d .
4 11-lC c..
5 ?|d.
4 ll-1 0 d .
C o n tin e n ta l im p o r t s fo r th e p a s t w eek h a v e b e e n 1 7 3 ,0 0 0
b a le s .
T h e a b o v e fig u res f o r 1910 s h o w a n in cre a se o v e r la st w e e k
o f 2 2 9 ,5 9 0 b a le s , a g a in o f 3 4 5 ,2 5 2 b a le s o v e r 1909, a
d e c r e a se o f 9 0 ,3 8 8 b a le s fr o m 1908, a n d a g a in o f 4 8 9 ,4 9 3
| b a le s o v e r 1907.
1783
THE C H R O N IC LE
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.
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Closing Quotations Jot Middling Cotton on—
Week ending —
December 3 0 . Sal'day, Monday\, Tuesday, Wed’day , Thursd'y, Friday,
G a l v e s t o n ...........
N e w O r l e a n s ___
M o b i l e _______
S a v a n n a h ______
C h a r le s t o n ____
W i l m i n g t o n _____
N o r f o l k ______
B a l t i m o r e ______
P h i l a d e l p h i a ___
A u g u s t a _________
M e m p h i s _______
S t . L o u i s _______
H o u s t o n ______
L i t t le R o c k . . .
J
5g
Bo8 !'oS
gjd
w*-*o..ag:
+
■»^
Oo
a^OcoH
< a
R a n g e ______
C l o s i n g ________
May—
R ange . .
C l o s i n g ___
June—
|
§
.
;:
w
<D
H
R a n g e _______
C l o s i n g _______
Tone—
S p o t _________
O p t i o n s ............
. kjj? - s i . . .« 8
6$* *4
”
,
i
The above totals show that the interior stocks have i n
during the week 6,185 bales and are to-night 64,372
bales more than at the same time last year. The receipts
at all the towns have been 83,933 bales more than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.— We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for
the week and since Sept. 1 in the last two vears are as fellows:
crea sed
--- -----------ID 1 u--------------
D e c e m b e r 30
S h ip p e d
Since
Sept. 1.
Week.
..-2 3 ,1 2 6
V i a R o c k I s la n d
Deduct Shipments—
I n la n d , & c ., fr o m S o u t h .
-.--.
530
5 ,3 1 9
3 .1 8 5
6 ,2 4 1
3 .1 8 6
...4 5 ,6 8 2
...
...
...
•------------- -1UI u--------------
Week.
Since
Sept. 1.
2 0 8 ,3 7 3
1 3 3 ,2 9 5
2 0 ,7 5 3
6 8 ,6 7 8
3 8 ,7 9 9
9 1 ,4 8 4
8 1 ,2 9 0
7 ,8 9 1
5 ,8 5 8
785
2 ,4 1 1
1 ,9 1 9
1 0 ,2 7 3
5 ,1 3 7
7 0 2 ,6 7 2
3 4 ,2 7 4
5 5 8 ,8 6 2
9 8 ,2 0 0
1 6 ,9 2 5
2 1 ,8 5 2
4 ,6 8 0
861
2 ,6 4 2
4 8 ,2 5 1
1 5 ,1 0 4
2 1 ,2 2 7
8 ,3 1 5
749
104
2 1 3 ,2 3 8
1 1 0 ,5 5 8
8 ,7 0 0
4 0 .7 2 0
2 3 .7 2 1
6 6 ,6 6 1
9 5 ,2 0 4
T o t a l t o b e d e d u c t e d . . ...................9
. . . ,196,186 8
1 3 6 ,9 7 7
8 ,1 8 3
8 4 ,5 8 2
L e a v i n g t o t a l n e t o v e r l a n d * ................
. . . 33 6 ,5
, 5 1144
5 6 5 ,6 9 5
2 6 ,0 9 1
4 7 4 ,2 8 0
* I n c l u d i n g m o v e m e n t b y r a il t o C a n a d a .
The foregoing shows the week’s net overland movement
has been 36,514 bales, against 26,091 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 91,415 bales.
-------------1 91 0
In Sight and Spinners'
Takings.
Since
Sept. 1.
Week.
.2 9 8 , 6 6 4
. 3 6 ,5 1 4
- 5 1 ,0 0 0
..
6 ,1 8 5
-------------1 9 0 9 -------------
Week.
Since
5 ,9 9 3 ,5 6 8
5 6 5 ,6 9 5
7 6 2 ,0 0 0
1 7 0 ,7 8 9
2 6 ,0 9 1
5 2 ,0 0 0
Sept. 1.
5 ,0 6 9 ,2 7 1
4 7 4 ,2 8 0
9 1 0 ,0 0 0
7 ,3 2 1 ,2 6 3
8 1 2 ,6 6 2
2 4 8 ,8 8 0
8 ,7 8 1
6 ,4 5 3 ,5 5 1
7 1 5 .9 0 5
.3 9 2 , 3 6 3
2 5 7 ,6 6 1
8 , 1 3 3 ,9 2 5
1 ,2 2 8 ,7 6 5
7 , 1 6 9 ,4 5 6
6 6 ,7 4 5
1 ,2 0 0 ,8 5 2
Movement into sight in previous years:
1909—
1908—
}9 0 7 —
1906—
Jan.
Jan.
Jan.
Jan.
Bales.
1 _____
3 7 7 ,8 8 1
3 ..........
4 2 4 ,6 1 0
4 --------------------------- 4 3 1 ,9 2 5
5 __________________ 2 0 1 ,7 4 6
Since Sept.
_
J009—
io n ?
1907—
1906—
Jan.
Jnn.
Jan.
Jan.
1—
Bales.
1 _ . .................. . 8 ,6 0 2 ,5 2 8
3 ------------------------ 0 ,7 7 2 ,7 6 8
4 .................... ........8 ,1 7 2 5 5 7
5 ------------------------ 7 ,0 9 7 ,2 9 6
A QUOTATHDNS f o r m id d l in g c o t t o n a t o t h e r
MARKETS.— Below are the closing quotations of middling
cotton at »~outhern and other principal cotton markets for
each day of the week.
14 1 1 -1 6
15
14 1 5 -1 6
1/1 11
14
1 1 -110A
1.1 11
14
1 1 -110A
14
14%
14 1 3 -1 6
14%
1 5 .2 5
14 1 5 -1 6
15%
15%
15
14 1 1 -1 6
*
i/i .nd
O/4i
14
/O
0-.W
A.U
Q
0/4
1
1/1.O4-.O0 114
14
3-.U
— @ — * t/u ---- — @ — —
@
—
\.U
nio *
1 4 .9 5 * 1 4 .9 5 * 1 4 .9 5 * 1
ID
1k 0-.14
i/i lO
1 .U
077-. 1U
1n
1 5 .0 9 - .2 9 1 5 .0 0 - .1 3 10.U
K1H
IO
1 5 .1 2 -.1 3 1 5 .1 3 - .1 4 1 5 .1 1 — 1
10.1
/-. -lo
— @—— ® — — @— — @—
1 5 .2 4 * 1 5 .2 5 * 1 5 .2 3 * 1 5 .2 9 *
1 4 .8 0 - .0 0 1 4 .7 3 - .8 5 1 4 .7 8 - .8 8
flA
1 4 .8 5 - .8 6 1 4 ,8 5 - .8 6
April—
October—
i L - s ® S a l l l a .- l i l l i l l ! s i s i i t i J i i M
14 yi
14 H
14 %
1 5 .2 0
1
AT/f.
14
15 %
15*$
15
14 1 1 -1 6
1 4 .9 2 - .0 3 1 4 .8 2 - .9 0
1 4 .8 6 * 1 4 .8 4 * 1 4 .8 3
R a n g e ________
C l o s i n g _______
February—
R a n g e ___
C l o s i n g _______
March—
R a n g e ____
C lo s in g ..
R a n g e ___
C lo s in g
52S
14 j i
15
1 5 .2 0
15
15%
15 7 -1 6
15
14%
15
14%
1/111
14
1 1 -110A
14%
14%
14%
14%
14%
1 5 .2 0
14%
15%
15%
— @—— @—
R ange . .
C l o s i n g _______
January—
R a n g e _______
C lo s in g . -
III:
fl3 s
H O L I
DAY.
December—
August—
-
H O L I
DAY.
15
14%
1 <1 1
1-1
14
11
-iOA
1A
1/1 1/
14
Sat’day, Monday, Tuesday, Wed’day, Thursd'y, Friday,
Dec. 2 4 . Dec. 2 6 . Dec. 2 7 . Dec. 2 8 . Dec. 2 9 . Dec. 3 0 .
R a n g e ________
C lo s in g __
a*
15
14%
14 1 3 -1 6
14 1 1 -1 6
NEW ORLEANS OPTION MARKET.— The highest
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
July—
rrt * St * *
[VOL. LXXXXI
H O L I
DAY.
H O L I
DAY.
1 5 .3 0 - .5 0 1 5 .2 1 - .3 4 1 5 .2 5 - .3 5 1 5 .3 0 - .3 9
1 5 .3 3 -.3 4 1 5 .3 4 - .3 5 1 5 .3 1 - .3 2 1 5 .3 8 - .3 9
— @— — @——
@
@—
f* —
* —
1 5 .3 9 * 1 5 .4 0 * 1
LK
O.oOO
1 5 .4 2 *
IQ
.
An
1 5 .4 3 -.6 1 1 5 .3 3 - .4 6 1O.O
t#
—
.4
1
1
KA0 A4 11 55 .4.4 48 -.5
1 5 .4 5 - .4 6 1 5 .4 6 - .4 7 1
10.4i,-.4o
- .4 9
i.l
o
n
n
o
—
@
—
14
.0
y-.uz
* 1 4 .9 6 - .0 0
— @ — 1 4 .9 7 —
1 4 .9 8 - .0 0 1 4 .9 4 - .9 6 1 5 .0 0 —
1 3 .4 1 -.6 1 1 3 .4 2 - .4 3 — @ — 13*4 5 —
1RJfl. 40
1 3 .4 6 - .4 8 1 3 .4 2 - .4 5 1 3 .4 1 - .4 5
oitauy.
S tea d -
Q u ie t .
S L -d v .
S tea d y .
S tea d y .
S tea d y .
S tea d y .
* N o m in a l.
WEATHER REPORTS BY TELEGRAPH.— Advices to
us by telegraph this evening from the South indicate that
rainfall has been moderate or light as a rule during the week,
but temperature has been lower as the week closes. The
movement of the crop continues comparatively free.
G a l v e s t o n , T e x a s .— There has been light rain on two days
of the week. Average thermometer 51, highest 62, lowest 40.
A b i l e n e , T e x a s .— Rain has fallen on one day of the week
to the extent of twenty hundredths of an inch. Average
thermometer 36, highest 46, lowest 26.
P a l e s t i n e , T e x a s . — It has rained on two days of the week,
the rainfall reaching one inch and twenty-four hundredths.
Average thermometer 46, highest 62, lowest 30.
S a n A n t o n i o , T e x a s .— We have had rain on one day during
the week, the rainfall being eight hundredths of an inch.
Average thermometer 47, highest 60, lowest 34.
T a y l o r , T e x a s . — We have had rain on two days during the
week, the rainfall being sixty hundredths of an inch. Aver
age^ thermometer 46, highest 62, lowest 28.
S h r e v e p o r t , L o u i s i a n a . — We have had rain on two days of
the week, the precipitation reaching one inch and thirty-five
hundredths. The thermometer has ranged from 32 to 74
averaging 53.
’
V i c k s b u r g , M i s s i s s i p p i . — There has been rain on two days
during the week, to the extent of eighty-one hundredths of an
inch. The thermometer has ranged from 32 to 72 aver
aging 54.
H e l e n a , A r k a n s a s . — Picking is not yet completed.
There
has been rain on two days during the week, the rainfall being
one inch and seventy-nine hundredths. The thermometer
has ranged from 28 to 68, averaging 47.4.
M o b i l e , A l a b a m a . —-Rain has fallen on two days during
the week, the rainfall being one inch and seven hundredths.
The thermometer has averaged 53, ranging from 34 to 67.
M o n t g o m e r y , A l a b a m a . — We have had rain on two days of
the week, the rainfall reaching sixty hundredths of an inch.
The thermometer has ranged from 29 to 72, averaging 52.
S e l m a , A l a b a m a . — Week’s rainfall one inch and twentytwo hundredths on two days. Average thermometer 47
highest 70 and lowest 25.
S a v a n n a h , G e o r g i a — There has been rain on two days of
the week, the precipitation reaching seventy-six hundredths
of an inch. The thermometer has averaged 51, ranging from
31 to 71.
C h a r le s t o n , S o u t h C a r o l i n a . — Rain has fallen on one day of
the week, the precipitation reaching forty-nine hundredths
of an inch. The thermometer has averaged 50, ranging from
34 to 67.
C h a r lo tte , N o r t h C a r o l i n a . — Rain has fallen during the
week, the rainfall reaching seventy-seven hundredths of an
inch. The thermometer has ranged from 24 to 66, averag
ing 45.
N e w O r le a n s , L o u i s i a n a . — We have had rain on two days
during the week, to the extent of fifty-one hundredths of an
inch. The thermometer has averaged 58.
}*-,
Dec . 31 1910.|
T H E C H R O N IC LE
1783
WORLD’S SUPPLY AND TAKINGS OF COTTON.—
M e m p h i s , T e n n e s s e e .— We have had rain on five days the [
past week, the rainfall reaching three inches and seven hun The following brief but comprehensive statement indicates
dredths. The thermometer has ranged from 29 to 04, aver at a glance the world’s supply of cotton for the week and since
Sept. 1 for the last two seasons, fromall sources from which
aging 47.
The following statement we have also received by tele statistics are obtainable, also the takings, or amounts gone
graph, showing the height of rivers at the points named at out of sight, for the like period.
8 a.m . of the dates given:
.
New Orleans__________ Above
M emphis_____________ Above
Nashville______ _____Above
Shreveport____________ l!elow
Vicksburg-------------------Above
zero
zero
zero
zero
zero
ot
of
of
of
of
Dec. 30 1910.
Feet.
gauge.
gauge.
gauge.
gauge.
gauge.
Dec. 31 1909.
Feet.
3.2
3.9
12.5
3.8
3.3
5.3
7.4
8.3
5.1
13.0
INDIA COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton from Bombay and the shipments from
all India ports for the week and for the season from Sept. 1
for three years have been as follows:
1909.
1910.
December 29.
Receipts at—
Week.
Bombay.................. - .........
Since
Sept. 1.
Week.
635,000 114,000
!‘3,000
For the Week.
from—
Bombay—
1910___
1903.....
1908___
Calcutta—
1910___
1909-.-.
1908___
Madras—
1910___
1909 . . .
1908___
All others—
1 9 10...
1909___
1908___
Total nil—
1910___
1909___
1908___
Great
Britain.
2,000 24,000 37,000 63,000
2,000 14,000 21,000 37,000
2,000 8,000 16,000 26,000
1,000
1,000
2,666
1,000
2,666
1,000
2,000
3,000
Since
Sept. 1.
Week.
972,000 81,000
11,000
13,000
4,000
452,000
2,000
2,000
4,000
6,000
10,000,
11,000
1,000
6,000
9,OOo!
4,000
3,000
1,000
12,000
16,000
5,000
Total.
235,000 117,000 393,000
167,000 207,000 387,000
133,000 125,000 262,000
1,000
1,000
2,000
4,00(1
3,000
—
Conti- 1 Japan
nent. <fc China.
4,000;
7,000
34,000
37,000
60,000,
14,000
1,000
2,000
1,000
1,000
5,000
1909.
Season.
Week.
Season.
Visible supply Dec. 23________ 5,133,371
4,942,600
Visible supply Sept. 1______ __
l", 495^514
l,9 3 i’ 022
American In sight to Dec. 30__
392,363 8,133,925 257,661 7,169,456
Bombay receipts to Deo. 29__
93.000
635.000 114,000
962.000
Other India shlp’ts to Dec. 2 9 ..
3,000
70,000
5.000
75,000
Alexandria receipts to Dec. 28.
47.000
719.000
14,000
542.000
Other supply to Dec. 28 *------12.000
117.000
8.000
115.000
Total supply____________
5,680,734 11,170,439 5,341,261 10,794,478
Deduct—
Total takings to Dec. 30--------Of which American _____ __ _
Of which other_______ ___
* Embraces receipts In Europe
1909.
1910.
8,000
12,000
29,000
lbs. Shirt- Cot’n
inns, common Mid.
Upl's
to finest.4
8M
Cop
Twist.
32s
15,000
9,000
12,000
Nov
47,000
51,000
70,000
11
18
25
31,000 284,00(4 148,000 463,000
35,000 218,000 209,000 462,000
16,000 211,000 146,000 373,000
5,362,961 5,017,709 5,017,709
317.773 5.807.478 323.552 5.776.769
206.773 4.567.478 223.552 4.075.769
111,000 1,240,000 100,000 1,101,000
from Brazil, Smyrna, West Indies, &c.
MANCHESTER MARKET.— Our report received by 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:
Dec
2
3,000 20,000 37,000 63,000
4,000 17,000 21,000 42,000
2,000 11,000 18,000 31,000
Week.
Visible supply Dec. 30___ __ . 5,362,961
1908.
Since September 1.
Great Conti Japan
Britain. nent. AChina Total.
*__
___
Since
Sept. 1.
1910.
C o t t o n T a k in g s .
W eek an d S eason .
9
16
23
30
d. s. d .
d.
n>4
11
@
111*
@
11 3-1647)
11 3 - 1 6 ®
11
@
'4
113*
11 'A
®
®
5
s. d .
d.
d. s. d.
d.
10H
8 .0 0
7 .8 5 10 V,
8 .1 0 10 M
@
11 3* 5
12
5
7
® 10 9
7
@ 1 0 10
7 I f @ 1 0 1 0 i2
12 V* 5
12
5
12 I f 5
12 V, 5
12>f 5
8
@ 10
8
@ 11
8 >$@ 11
9
@ 11
9
@ 11
8 .0 6
7 95
8 .1 1
8 .1 6
8 .0 7
10**
10
10 >*
@
@
@
@
H
11
0
l> *
3
3
8 J * lbs. Shirt- Cot'n
ings. common Mid.
to finest.
Upl’s
Cop
Twist.
32s
'A
10**
10J*
@
@
@
s. d .
@911
@9 n
@910
11>* 5
m * 5
11
5
0
6
5
11
11X 5
U '4 5
5 > * @ 9 11
@1 0 0
6
@10 0
6
6 @ 10 0
U >* 5
6>*@ 10 1
5
m * 5
d.
7 .7 2
7 .7 2
7 .6 2
7 .7 2
7.94
8 .0 3
8 .2 6
8 .5 0
According to the .v
'v'g, Bombay appears to show a
EXPORTS OF COTTON GOODS FROM GREAT
d e c r e a s e compared with V
year in the week’s receipts of
21.000 bales. Exports from all India ports record a gain of BRITAIN.— Below we give the exports of cotton yarn,
24.000 bales during the week and since Sept. 1 show an goods, &c., from Great Britain for the month of November
and since Jan. I 1910 and 1909, as compiled by us from the
in c r e a s e of 1,000 bales.
British Board of Trade returns. It will be noticed that we
ALEXANDRIA RECEIPTS AND SHIPMENTS OF have reduced the movement all to pounds.
COTTON.— Through arrangements made with Messrs.
Yarn & Thread.
Cloth.
Total of All.
Ghoremi, Benachi & Co., of Boston and Alexandria, we
000s
1909.
now receive a weekly cable of the movements of cotton at omitted. 1910. 1909. 1910. 1909.
1910.
1910.
1909.
Alexandria, Egypt. The following are the receipts and ship
Yds.
Yds.
Lbs.
Lbs.
Lbs. Lbs.
Lbs.
Lbs.
ments for the past week and for the corresponding week of Jan . . . 17,879 19,480 497,747 419,123 92,639 78,036 110,518 97,516
87.386 81,119 105,567 100,171
Feb___ 18,181 19,052 469,525 435,684
the previous two years:
March . 18,553 22,013 475,819 492,867 88,607 91,712 107,160 113,725
Alexandria, Egypt,
December 28.
Receipts (cantars)—
This w eek_____________
Since Sept. 1___________
Exports (bales) —
To
To
To
To
Liverpool___________
Manchester_________
Continent________ .
America. ...................
1st qr. 54,013 60,545 1,443,091 1,347,674 268,632 250,867 323,245 311,412
1910.
1909.
1908.
350,000
5,389,031
105,000
4,064.502
|290,000
4,193,920
This Since
This Since
This Since
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
4.500
100
9,750
2.500
124,051
114,929
157,236
53,298
2,000 84,469
71,310
4 ,5 6 6 141,069
800 37,682
6,500
5,750
6.250
2.250
86,561
79,186
115,688
25,383
April . . 17,578 19,605 462,261
May . . . 17,159 20,024 450,363
June . . 16,924 20,184 508,444
443,149
440,902
430,730
2d qr. 51,661 59,813 1,421,068 1,314,781
July . . . 18,006 22,362 502,752 575,206
August. 16,958 22,020 520,924 543,871
Sept. . . 17,173 20,392 492,179 478,984
103,660
101,025
111,606
102,082
102,083
100,350
264,630 244,702 316,291
304,515
104,796
97,044
91,653
129,417
123,243
109,539
86,082
83,866
94,682
82,477
82,059
80,166
107,055 122,802
101,223 114,002
89,147j 108,826
3d qr. 52,137 64,774 1,575,855 1,598,061 293,493 297,425 345,630 362,199
O c t __ 20,079 21,314 519,432 515,615 96,729 95,964 116,808 117,278
N ov __ 18,006 20,451 511,047 463,326 95,167 86,232 113,173 106,683
Total exports________ 16,850 249,514 7,300 334,530 20,750 306,818
A oanra Is 99 lbs. Egyptian bales weigh about 750 lbs.
1,121
41.029
The statement shows that the receipts for the week were
350,000 cantars and the foreign shipments 16,850 bales.
923
36,937
1,257,397 1,239,947
The foregoing shows that there has been exported from
EGYPTIAN COTTON CROP.— Fr. Jac. Andre3, Inc., the United Kingdom during the eleven months 1,257,397,000
of Boston have the following from Alexandria under date of lbs. of manufactured cotton, against 1,239,947,000 lbs. last
year, or an increase of 17,450,000 lbs.
Dec. 9:
A further matter of interest is the destination of these
The result of our Inquiries throughout the country justices us In advising
our friends that a crop of 7,200,000 cantars may be expected.
exports, and we have therefore prepared the following state
ments, showing the amounts taken by the principal coun
JAPANESE COTTON MILLS.— Through the courtesy of tries during November and since Jan. 1 for each of the last
Mr. O. Shoji, Secretary of the Japanese Spinners’ Association, three years.
we have obtained the details of operations of the cotton mills
in Japan for 1999-10, and give them below in conjunction
November.
Jan. 1 to Nov. 30.
with the revised results for each of the three preceding years:
Piece Goods— Yards.
Years ending June 30—
1909-10.
1008-09.
1007-08.
1900-07.
36
Establishments------- No.
30
39
48
2,004,968
1,843,598
Spindles___________ "
1,005,879
1,483,497
15,515
12,176
Looms_________ ____ “
9,243
9,626
17,391
18,337
Hands employed,male “
15,399
15,093
68,471
76,462
“
female “
03,303
65,620
Consumption—
American________ lbs. 90,030,625 99,731,316 99,749,700 125,348.898
261,352,501
350,13 1,375
Indian .___ _____“
254,088,900 241,128,168
12,676,808 12,139,575
E gyptian________ “
7,088,183
6,654,144
608,550
Chinese .................“
61,644,733 55,579,575 74,510,692 73.107,070
O th e r___________ “
13,165,040 11,012,224
9,380,766
0,555,943
Total _
“ 527,051,581 440,415,251 445,418,241 453,402,782
880,830
1,055,303
Equaling 500-1 b.net bales
890,836
900.805
Yarn produced____ lbs. 441,974,400 307,869,200 375,29 <,200 394.872,010
Piece goods produced yds 196,728,208 104,537,299 145,241.613 137,367,210
Stock of raw cotton held
201,951
227,113
• at mills— 100-lb. bales
279,872
408,354
(000s omitted).
1910.
1909.
East Indies.......................
Turkey, Egypt and Africa.
China and Japan^ ...........
Europe (except Turkey). . .
South America..................
North America__________
All other countries_______
215,664
109,902
32,499
30,542
57,698
27,780
36,962
204,955
88,117
31,204
31,831
45,212
32,197
29,810
1908.
1910.
1909.
1908.
160,419 2,313,256 2,147,642 2,303,022
75,276 1,003.619 942,147 875,953
32,685 515,978 649,015 568.525
21,200 362,634 341,028 275,677
34,322 553.639 447,560 417,515
25,263 286,815 317,840 294,864
29,787 434,552 394,224 408,484
Total yards.................... 511,047 463,326 378.952 5,470,493 5,239,456 5,144,040
Total value.................... .£6,715 £5,635 £4,653 £71,328 £62,257 £65,380
Yarns— Lbs.
(000s omitted).
Holland .................. ........
Clermany .........................
Oth.Europe(exceptTurkey).
East Indies........................
China and Japan...............
Turkey and Egypt.............
All other countries.............
3,277
4,363
2,459
2,476
82
924
2,640
4,441
3,389
3,349
2,904
42
1,060
2,491
1.321
2,190
2,352
2,184
443
1,208
1,789
35,652
45,200
28,377
24.786
1,016
9,651
29.369
40,713
38,351
37,216
34,649
5,420
15,656
27,885
36,326
39,227
41.181
38,222
6,667
14.215
23,887
Total pounds................. 16,221 17,676 11.487 174,051 199,900 199,725
Total value................... £1,159 £1,028 £684 £12,066 £10,854 £12,000
1784
H IE C H R O N IC LE
CKNvSUrf BUREAU'S REPORT ON COTTON GINNING.
— The Division of Manufactures in the Census Bureau com
pleted and issued on Dec. 20 its report on cotton ginned to
Dec. 13 as follows (counting round as half-bales and excluding
1inters).
Per Cent
Per Cent
Ginned to
Crap Gln'd to
Crap (lin'd to
Ginned to
Mates, i ear Dec.. 13. Jar Year. Dec.YA. States. Year. Dec. 13. for Year. Dec. 13.
u .s . 1910 10.698,482
664,434
N.Car. 1910
1909 9.358.085 10,072,731 92.9
1909
581,954
633,746 91.8
1908 11,904.209 13,086,005 91.0
683,628 90.1
1908
615,736
1907 9,284,070 11,057,822 84.0
637,061 82.0
523,257
1907
1906 11,112,789 12,983,201 85.6
546,524
1906
611,258 89.4
1905 9,297,819 10,495,105 88.6
608,183
652,815 93.2
1905
Ala 1910 1,129,273
868,928
Okla .1910
1909
987,254 1,040,137 94.9
552,678 93.1
514,5.35
1909
1908 1.265,953 1,352,803 95.0
494,984
689,345 71.8
1908
1907
961.739 1,070,090 86.4
685,595
848,977 80.8
1907
643,667
871,961 73.8
1906 1,136,844 1,216,006 91.6
1906
532,362
1905 1,133,318 1,202,145 92.3
1905
6801,027 80.7
Ark -.1910
676,156
S.Car. 1910 1,108.967
1909
642,322
1909 1,064,819 1,137,382 93.6
697,603 92.1
1908
1908 1,134,183 1,215.848 93.3
817,312
996,093 85.1
1907 1,011,356 1,163,565 87.2
1907
572,418
751,851 76.1
1906
1906
838,828
673,030
894,268 75.3
912,602 91.9
1905 1,042,877 1,112,363 93.8
475,574
1905
598,915 79.4
Term. 1910
Fla .1910
59,488
269,657
1909
1909
58,556
221,465
61,877 94.6
240,757 92.0
1908
1908
64,131
70,598 90.8
302,627
334,084 90.6
1907
1907
45,685
56,668 80.6
201,450
266,433 76.7
1906
1906
55,916
61,473 91.0
220,552
293,023 75.3
78.838 88.5
1905
1905
69.752
225,447
260,030 83.8
Tex ..1910 2,849,911
1910 1.707,310
Ga
1909 2,262,938 2,469,331 91.0
1909 1,766.070 1,850,125 95.5
1908 1.868.963 1,977,050 94.5
1008 8,368,874 3,627,350 92.9
1907 1,989,988 2,208,021 90.1
1907 1.032,463 1,860,323 87.8
1006 3,485,565 3,957,619 ,88.1
1906 1.514,637 1,632,703 92.8
1905 2,172,881 2,432.718 89.3
190.4 1,620.741 1.725,272 93.9
Other 1910
La .1910
234,468
62,944
1909
258,459 96.2
53,020
Jgl909
248,6 13
57,531 92.2
1908
435,603
466,543 93.4
1908
03,956
73,138 87.4
662,032 75.8
501,612
1907
31,619
46,017 68.7
1907
955,473 80.0
19U6
1906
764.850
47,462
62,280 69.5
511,738 81.3
1905
116,237
1905
48.791
57,330 85.1
Miss .1910 1,066,946
f
956,509 1,073,105 89.1
1909
1908 1,441,947 1,620,325 89.0
1907 1,120,908 1,412,881 77.7
1906 1.184,914 1,483,408 79.9
051,656 1,168,059 81.5
1905
Round bales Included this year are 106,827, compared with 140,024 for
1900. 215,089 for 1908 and 107.201 for 1907. Sea Island, 75,170 for 1910,
85,177 for 1909, 80,810 for 1908 and 05,208 for 1907. The distribution of
the Sea Island cotton for 1910 by States is: Florida, 25,804: Georgia, 39,
717: South Carolina, 9,049. The statistics in this report are subject to
slight corrections when checked against the individual returns of the glnners
being transmitted by mail. The corrected quantity of cotton ginned
this season to Dec. 1 1910, Is 10,139,712 bales.
RECEIPTS FROM THE PLANTATIONS.— The follow
ing table indicates the actual movement each week from the
plantations. The figures do not include overland receipts
nor Southern consumption; they are simply a statement of
the weekly movement from the plantations of that part of the
crop which finally reaches the market through the outports.
ReceIpis at Poris.
end it/
Nov.
ll
Dec.
•*
“
1910.
1909.
1908.
Stock at Interior Towns. Receipts from Plinla'ns.
1910.
1909.
1908.
1910.
1903.
1908.
ii 375,754 367,454 172,528 608,000 631,918 712,711 140,825 433,088 534,192
13 413,436 278,293 402,709 6 9,2 3 683,704 784,797 464,709 310,079 441,795
25 393,380 201,281 113,653 711,879 697,759 820,980 446,016 238,339 149,836
2 (32 62 216,389 157.544 77,3/1 /.SO,111 S10.il> (98. 28 t )o,n; 185,1/8
0 493,59 ' 190,910 106,236 8 4,9)2 /59*2»: ('■■1 l>1 423,2 7
21,3 73
16 417,201 201,324 403,352 831,361 778,623 883,158 4 >3,570 223,686 425,059
23 361,0 >9 208,499 351,736 857.255 790,287 914,653 386.96 ; 220,163 383,231
30 298,664 170.789 268,772 863,440 799,068 935,102 304,849 170,570 287,221
(Voi. LXXX \ I
WILMINGTON— To Bremen’—Dec. 24— Gretavalc, 11,323.
BOSTON— To Liverpool— Dec. 27— Devonian, 5,021 . . . . . .
To Manchester— Dec. 23— Caledonian, 1,364..........
BALTIMORE—To Bremen— Dec. 23— Chemnitz, 3,173.
To Hamburg— Dec. 21—Vandalia, 10 0 _......... ........ _
PHILADELPHIA— To Antwerp— Dec. 22— Menominee, 100
SEATTLE— To Japan— Dec. 21— Numeric, 750
TACOMA— To Japan— Dec. 29— Protesltaus, 896
Total bales.
. . . 11,323
. . . 5,021
... 1,364
3,173
100
100
..
...
...
Total
750
896
249,383
The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
Great
Britain.
New York__ . 7,9 11
Galveston _
8,052
New Orleans. .41,600
Gulfport ......... 4,516
Mobile . _ ___ . 6,700
Pensacbla___
Savannah ___ ’ 26,097
Brunswick . . . . 6,339
Wilmington .
.._
Trench
ports.
880
13,547
26,290
3,625
3,300
10,205
4,250
_.
. .
....
Ger- -—Oth.Europe— Mex.
many. Xorth. South. &c. J 1 pan. Total.
924 1,896
11,641
16, 910 3,500
42,009
25, 248 1,164
94,302
8,141
10,000
10,205
7, 440
2,400
40,187
O, 196
11,535
u , 323
11,323
___
__ _ _
5,021
3, 273
3.273
___
100
100
750
750
...
896
896
.. __
Tacoma _
.............
.106,260 62.097 69, 390
Total .......... 106
5,688
4,296
__
1,640 249,383
The exports to Japan since Sept. 1 have been 57,479 bales
from Pacific ports.
Cotton freights at New York the past week have been as
follows, quotations being in cents per 100 lbs.
Liverpool . .
Manchester
H a v r e __
Bremen
Hamburg .
Antwerp__
Ghent, via Antwerp
Rcval ___
Gothenburg . __ _ .
Barcelona, direct.
Genoa .
T rieste__ __ _.
____
Japan . . . . .
Sat.
Mon.
Tues.
Wed.
Thurs.
15
15
15
15
15
15
15
15
20
18
20
20
26
27 y
30
30
20
30
HOLIDAY.
45
20
18
20
20
Fri.
15
15
20
18
20
20
26
27 y
30
30
20
30
30
20
30
27 y>
30 ”
30
20
30
23 *
18
20
20
26
27 Vx
.30 ”
30
20
30
45
45
45
45
26
23
18
2? y
30
20
20
26
LIVERPOOL.— By cable from Liverpool we have the fol
lowing statement of the week’s sales, stocks, &c., at that port :
Dec. 9.
Sales of the week
. .bales 61,000
Of which speculators took . 1,000
Of which exporters t o o k .. . 2,000
Sales, American.
53,000
Actual export
.
3,000
Forwarded
_
. 80.000
Total stock— Estimated
.706,000
Of which American
.603,000
Total Imports of the week.
149,000
Of which American .
. 115,000
Amount afloat
.576,000
. .456,000
Of widch American___
Dec. 10.
51,000
3,000
2,000
45,000
11,000
106,000
761,000
050,000
172,000
135,000
610,001)
510,000
Dec. 23.
52,000
1,400
700
48,000
14,000
DO,000
882,000
771,000
223,000
191,000
471,000
396,000
Dec. 30.
31,000
900
700
28,000
3,000
65,000
07 5,000
852,000
160,000
134,000
180.000
422,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Market,
12:15
I>. M.
Saturday.
Mondag.
Tuesday.
1
)
J
Wednesday. Thursday.
Good
demand.
8.12
Mid. Upl’ds
Quiet.
Friday
Fair
business
doing.
8.10
8.07
The above statement shows: 1.— That the total receipts Sales ___
11,000
IIOLI8,000
HOLI
10,000
from the plantations since Sept. 1 1910 are 6,806,239 bales; S p e c . * exp. HOLI
DAY
DA Y
500
DAY
500
500
in 1909 were 5,785,176 bales; in 1908 were 7,074,332 bales.
Futures.
Easy at
Steady at Quiet at
2.— That although the receipts at the outports the past Market \
0(a) 7 pts. 5@7 pts.
! point
decline.
advance.
decline.
week were 298,064 bales, the actual movement from planta opened J
tions was 304,849 bales, the balance going to increase stocks Market, 1
Easy at
Steady at Steady at
11«@13H 3<5J i 1. pts
y<f( 1'A
4
1
at interior towns. Last year receipts from the plantations
pts. dec.
P. M. J
advance: pts. adv.
for the week were 179,570 bales and for 1908 they were
The prices of futures at Liverpool for each day are given
287,221 bales.
Prices are on the basis of upland, good ordinary
SHIPPING NEWS.— As shown on a previous page, the below.
unless otherwise stated.
exports of cotton from the United States the past week have clause,
The prices are given in pence and 100ths. Thus, 7.90 means 7.90-100<L
reached 249,383 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Wed.
Tues.
Dec. 24
Mon.
Thurs,
Sat.
Fri.
Total bales.
NEW YORK— To Liverpool— Dec. 23— Baltic, 2,146. .Dec. 28
Ultonla, 2,GIG_____ ______ _________________ ______ ____
1,762
To Manchester— Dec. 23— Voltaire, 2,450 upland, 3G6 Sea Isi . 2,810
To London— Dec. 24— Minnetonka, 363 . . . .
. . . ............ ..
363
To Havre— Dec. 24—Chicago, 503 upland, 28 Sea Island.
Dec. 28— Florlde, 39: La Bretagne, 250. .
...............
880
To Antwerp— Dec. 27—Vadcrland, 924___
.
—
924
To Genoa— Dec. 27— Mendoza, 500
Dec. 29— Re dl Italia,
1,100
_______ ___ _____ ________________ _____ ____
1,600
To Naples— Dec. 27—Mendoza, 100. Dec. 28— Duca degli
Abruzzl, 196.__________ ______ ____________ ____________ - 296
GALVESTON—To Liverpool—Dec. 23—Madrilcno, 8,052
8,052
To Havre— Dec. 27—Monadnock, 13,547. ..................
13,547
To Bremen— Dec. 22—Hannover, 12,388.... ..........................
12,388
T o Hamburg— Dec. 23—Alstcr, 4,522_______________________
4,522
To Gothenburg— Dec. 23— Nordkyn, 3,500...........................
3,500
NEW ORLEANS—To Liverpool— Dec. 30— Cestrlan, 22,000;
Oxonian, 11,900 ______________ _____ _____________________ 33,900
To Manchester— Belgian, 7,700.. . .............. . .............. . ........... 7,700
To Havre— Dec. 30 -Massachusetts, 16,763; St. Laurent, 9,522 26,290
To Bremen—Dec. 23—Royal Princess, 16,200__ Dec. 28—
King Edgar, 6,700 .................. ..........
......... . . . . . . . ________ 22,900
To Hamburg— Dec. 24— Htspanla, 2,348 ___________ . . .
2,348
To Antwerp Dec. 29— Virgil. 1.164____________ _____ ______
1,164
GULFPORT—To Liverpool—Dec. 26— Harperly, 4,516 ..........
4,516
To Havre—Deo. 20 — Harperly, 3,625 . --------------------------3,625
MOBILE - T o Liverpool— Dec. 28 -Tugela. 1,450............................
1,450
To Manchester— Dec. 23— Mariner, 5,250. . . . ___ ____ ______
5,250
To Havre—-Dec. 24—Sandsend, 3,300 ____
__ ________ 3,300
PENSACOLA—To Havre— Deo. 24— Massachusetts, 10,205_____ 10,205
SAVANNAH— To Liverpool1—-Dec. 28— Director, 12,352__ Dec. 29
— Hlllglade, 13,745 ______ , _____________________________ 26,057
To Manchester —Dec. 27—Tecsdale, 3,500 --------------------------- 3,500
To Havre*—Deo. 27—Tcesdale, 4,250------- ---------------------------To Bremen- Dec. 24—Clan MaeLcan, 7,440.. ----- --------------- 7,440
To Trieste— Dec. 24—Virginia, 1,700. _____
. . . ---------1,700
To Venice— Dec. 2 1 -Virginia, 400__________________________
400
To Flume— Dec. 24— Virginia, 300__________ _____ _____ _ .
300
BRUNSWICK— To Liverpool— Dec. 29—Crown of Granada, 0,339. 6,339
To Bremen— Dec. 30—Tantallon, 5,196.............. ........................ 5,196
to
Dec. 30. 12K|12M 12 Ml -1 12^1 4
p.m; p.m. p.m. p.m. p.m.(p.m.
Dec.-Jan..
Jan .-Feb..
Feb.-Meh.
Moh .-Apr.
Apr .-May.
May-Jun’e
June-July
July-Aug.
Aug.-Sep.
Sep .-Oct .
Oct .-Nov
Holiday
9
II oilday
Holiday
12H
p.m.
7 oi y
7 90 y
7 90 y
7ui y
7 92
7 92 y
7 02 y
7 oo y
7 87 y
7 67
7 31
157
4 12K 4 12 14 4
p.m. p.m. p.m. p.m. p.m.
so y oo y 00
85 y, so y 89
85 88 y 88
86 89 !a 89
80 y 90 90
86 11 90 00
87 90 oo y
85 88 y 88 y
82 35 y 86
62 65 65 y
28 y. 31
33
oo y 12
hi y
87 'A
86
87
88
83
88 y
87
84
os y
30
11
so y
89
00
91
oi y
92
90
87
67
33 y
14
BREAD STU FFS.
F r i d a y , D e c . 30 1910.
Prices for wheat flour have shown practically no change
at any time during the week and the trading has been ex
tremely dull. It is more than ever a waiting market. Some
houses report that business during the month has been the
poorest of the year. There is a general belief, however, that
a change for the better in trade will be witnessed early next
year, as dealers are believed to be carrying small supplies.
Rye flour and corn meal have been quiet and steady.
Wheat has continued to act in a manner to suggest that
whatever may be the feeling as to the future course of prices,
there is less disposition than was at one time apparent to
take the aggressive on the short side. Judging by the
strength of foreign markets, this also pretty well describes
Dec. 311910.J
1785
T H E C H R O N IC LE
the situation abroad. Certainly, European quotations have The statements of the movement of breadstuff's to market
risen. The cash demand at Liverpool has increased coinci indicated below are prepared by us from figures collected by
dent with decreased olTerings of Argentina wheat there. the New York Produce Exchange. The receipts at Western
Rumors have been rife, too, of a better demand for export lake and river ports for the week ending last Saturday and
in this country. It is noticed that the primary receipts at since August 1 for each of the last three years have been:
the West have of late fallen considerably below the corre
Barley.
Rye.
Oat*.
Com.
Wheat.
sponding period last year. Paris has advanced noticeably Receipts at— Flour.
of late, presumably owing to the reports of a less favorable
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.48tbs. bu.56 lbs.
87 6 ,0 0 0
2 .619.000
4 7 ,5 0 0
252 ,000
3 ,9 6 6 .4 0 0
outlook for the crop in France and the United Kingdom. C h ic a g o ____ 123.751
448,800
4 25 ,100
3 8 ,7 6 0
406 .820
5 5 .542
168,370
There is even some disposition noticeable to reduce the esti M ilw a u k e e ..
29,769
52,846
4 9 0 ,310
793
9 ,990
6 4 0 ,400
487,150
4 5 ,3 8 0
mates of the Argentina crop and quotations at Buenos Ayres M in neapolis.
2,5 4 9 ,9 8 0
435 ,240
61,500
43.000
224 ,000
have risen. It is also worth while to remark that the Euro D e tr o it ..........
___ ___
73.989
......
4,630
164.933
25,233
73,184
pean visible supply decreased for the week 3,240,000 bushels,
9 3 .8 0 0
7 .7 0 0
443^700
is___
6 0 ,720
3 6 2 .4 6 2
430 ,800
as against a decrease for the same time last year of only SPt.e o rLiou
72.000
6,0 0 0
178.200
a ..........
59 294
11.000
483 .003
200,000 bushels. Even more striking is the fact that the K ansas C ity .
178.500
6 9 6 ,000
3 6 8 ,400
.............
.............
world’s available supply decreased during the week— was close
145 ,940
4,6 1 6 ,8 6 9 2 ,1 3 7,069
T o t .w k .’ lO
3 14 .923
6 ,5 8 4 ,4 6 0
4 ,6 1 1 ,6 4 8
to 3,000,000 bushels, as against an actual increase during Sam
6 1 ,4 1 6
886.483
e w k . ’ 09
277,234
2 ,251,723
4,0 9 1 ,8 1 6
2 .7 9 5 .3 9 8
the same time last year of over 800,000 bushels. On the Sam e w k . ’ 08 239,271 2,2 4 6 ,1 5 7 3 .7 6 5 ,6 7 2 2,6 9 6 ,3 4 5 1,120,212 100,381
other hand, excellent rains have been reported in our South S ince A u g . 1
.
1 91 0.......... 7,5 5 5 ,3 6 9 137 ,190 ,64 3 79,819,301 9 8,217,121 3 8 ,6 1 8 .3 6 5 3 ,0 8 9 ,3 0 0
western States, notably in Kansas, Missouri and Oklahoma.
82,366,781 4 2 ,1 1 4 ,0 5 6 3 .9 6 1 ,8 1 3
190 9_____
9
,8
4
8
.9
0
5
152,663.111
6
7
,1
6
0
,6
2
5
Southwestern houses have been selling July at Chicago.
1 90 8.......... 9 ,8 6 1,637 1 5 1 ,634 ,63 6 5 6 ,5 29,357 8 3,994,451 4 8 ,5 5 9 .7 1 8 3 ,9 4 6 ,4 3 7
The East Indian acreage is officially estimated at 100,000
acres larger than that of last year. Our Northwestern stocks
Total receipts of flour and grain at the seaboard ports for
have been increasing. Some leading Chicago operators are
supposed to have been quietly closing out long accounts. the week ended Dec. 24 1910 follow:
Com,
Flour,
Wheat,
Oats, Barley,
The general crop outlook in this country has apparently
Rye,
b2ish.
bush.
bush.
Receipts at—
bush.
bush.
bbls.
been materially improved by the fall of needed rains and New
Y o r k ............. - 160,555
718,875
195,600
332,450
10,200
3,450
snow. One estimate of the Argentina exportable surplus
172.990
. 43,028
38,831
62,117
120,000
68,000
11,926
during the coming year is as high as 101,000,000 bushels, Philadelphia___ .. 58,573
320,775
120,929
800
68,358
which would be, roughly, an increase of about 25,000,000 Baltimore........... - 41,951
626,795
2,249
43,710
16,647
5,428
43,214
12,312
Richmond......... 5,527
43,250
3,000
bushels over those for this year. To-day prices declined on New
431,400
Orleans*
. 16,419
40,500
disappointing Liverpool advices, increased exports from Newport News__ . 8,992
• • •<...
Galveston--------45,000
2,000
Argentina and Australia, decreased shipments from this Montreal........... . 15,235
17,312
2,000
23.837
22,239
country, dulness on the spot, increasing stocks at the North S t. John,.......... . 29,000 234,000
40,000
Halifax
.............
west and improved crop reports from the winter-wheat
.....................
.............
.............
.............
sections.
.
Total week 1910. _ 394,556
846,061 2,394,027
608,792 34,688
12,678
DAILY CLOSING PRICES OF WHEAT FUTURES IN
NEW
YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
N o . 2 r e d w in t e r ..............................
D e c e m b e r d e l iv e r y In e l e v a t o r ______ 9 7 %
M a y d e l iv e r y In e l e v a t o r ____________ 1 0 2 %
98H o ll0 7 % 97 %
98 %
day
97 %
97 %
98
101% 101% 102%
DAILY CLOSING PRICES OF WHEAT FUTURES IN
98 %
97 %
102%
C H IC A G O .
Sat. Mon. Tues. Wed. Thurs. Fri.
December delivery In elevator___ 92% HollMay delivery In elevator__________ 96% day
July delivery In elevator___________ 93%
91%
95%
93
92%
96%
92%
93%
97%
93%
92%
96%
93%
Since Jan. 1 1910. 18,049,435 75,269.469 42,478,805 49,732,815 3927,712 949,375
6,978
Week 1909......... - 435,085 2,097,782 2,316,642
537,725 90,040
Since Jan. 1 1909. 17,478,373 99,455,675 45,291,948 44,148.899 7322,077 1138,592
* R eceip ts d o n ot Include grain passing th rou g h N ew O rleans fo r foreig n p orts
on th rou gh bills or lading.
H
The exports from the several seaboard ports for the week
ending Dec. 24 1910 are shown in the annexed statement:
Rye, Barley,
bush. bush.
Peas,
bush
1910.
bush.
Dec. 24.
bush.
1910.
531,005 1 8,295,766
96,431 1 1.124.965
3,000
142,775
3 ,0 0 0
496 ,464
7 15 ,793
1,700
3 8 ,324
3 ,3 9 6 188
4.1 5 3 .1 0 9
1,5 0 4 .4 8 2
726 .084
7.374
17,899
T o ta l ..................... 232,194 4 ,4 1 3 ,6 1 3
6 30 .436 2 9 ,5 7 3 ,5 0 6 1,252,281
T o ta l 1909 .................296,583 5,2 2 9 ,4 4 9 2 ,6 3 5 ,1 5 8 5 2 ,0 0 6 ,0 4 3 1,5 8 1 ,4 3 8
9,8 0 5 ,1 3 6
7,9 6 7 ,8 9 1
Exports from—
Wheat,
bush.
Com, Flour,
bush.
bbls.
Oats,
bush.
........... 124,871
460,283 86,993
3,731 ...................
4 928
Indian corn futures have been nominal. At the West the New York Me____
120,000
68,000 11,926
...........................................
speculation has been of moderate proportions. Prices have BPortland.
.............................................................
o s t o n ..................
7,988
150,342 23,087
shown irregularity at times, but in the main the trend of P h iladelphia____ 63,000 146,000 17,000 1,000 ........... ...................................
Baltimore..............
40,577
313,178 18.41S
100 ............................ 1..........
prices of late has been upward, owing to diminished sales by New
O rleans.........................
106,500 30,428
1,710 ............ ............................
the country, some increase in cash sales, partly for export, Newport News . . ................................ 8,992 ......... .. ............................................
_
______
______
3,000
125 ______ _____ _ ______
unfavorable news from Argentina, and the fact that tempera Galveston_____
M o b ile ....................................
7,978
3,350
................. ...........................................
tures in this country have been too moderate for drying the M o n tre a l........... .. ......... ........................................................................... ..........................
John, N. B . . . 234,000
............ 29,000
............................ ................... ........
cereal. Some wheat bulls have purchased, commission St.
houses have bought and shorts have covered. On the other H a li f a x ........... .. 40,000 ................. .......... ................... .......................................
T o ta l w eek ____ 630 .4 3 6 1 1 ,2 5 2 ,2 8 1 2 3 2 ,194
6 .666 ................................
4 ,928
hand, elevator interests have sold and there is a belief
5 2 ,795 _______
3 1 ,7 9 9
6,2 5 5
among some leading members of the trade that ultimately W eek 1909.............2 ,6 3 5 ,1 5 8 ..1 ,5 8 1 ,4 3 8 296 ,583
The destination of these exports for the week and since
prices will seek a lower level, owing to the large supplies in
this country. To-day prices were irregular, ending firm July 1 1910 is as below:
-----------Flour----------•Wheat----------------------------- Cornin the main on covering and unfavorable Argentina crop
Since
Since
Since
news.
Week. July 1
Week
July 1
Week
July 1
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat.
Mon. Tues. Wed. Thurs. Fri.
Cash corn.......................................... 53% Iloll- 53
December delivery In elevator____56
day
57 %
May delivery In elevator_________ 56%
55%
DAILY CLOSING PRICES OF CORN FUTURES
52 %
52% 52%
57
56 %
._
55%
56% 56%
IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
December delivery In elevator___ 46%
May delivery In elevator_________ 48%
July delivery In eievator_________ 49%
Hollday
46%
47%
48%
46%
47%
48%
47% 47%
48% 48%
49% 49%
Exportsfor week and Dec. 24.
since July 1 to—
bbls.
1910.
bbls.
U n ited K i n g d o m . . . 130,766 2.187,063
C o n t i n e n t . . ............... 3 6 ,6 2 5
9 4 5 ,582
S o. and C ent. A m e r . 26,690
544 ,569
W est I n d i e s ............... 3 7 ,9 8 8
611,589
B rit. N o . A m . C o ls .
125
59,351
O th er C ou n tries........................
65,459
Dec. 24.
bush.
7,000
bush.
Oats for future delivery in the local market have been
The world’s shipments of wheat and corn for the week
nominal. The speculation at Chicago has been fairly active, ending Dec. 24 1910 and since July 1 1910 and 1909 are
but prices have not shown any marked change, though of late shown in the following:
the tone of the market has been somewhat firmer in sym
pathy with a rising tendency in wheat and corn. Receipts
Wheat.
Com.
have decreased and the cash market has been stronger.
1910.
1909.
Exports.
1910.
1909.
Shorts have covered. On firm spots, however, cash interests
Since
Since
Week
Week
have sold. ' Some believe that any falling off in the crop
Since
Since
July 1.
July 1.
Dec. 24.
Dec. 24. July 1.
July 1.
movement will prove to be only temporary. To-day fluctua
Bushels. Bushels. Bushels.
tions in prices were slight. Cash interests sold, but shorts
Bushels. Bushels.
Bushels.
N orth A m er. 3.3 2 8 .0 0 0 6 2 .3 7 1 .0 0 0 8 3 .1 7 3 .0 0 0 1 .219.000
9 .5 1 3 .0 0 0
8 ,088,000
absorbed the offerings.
R u s s i a _____ 5.7 4 4 .0 0 0 128,184 ,00 0 120,616 ,00 0
468 .000
5 .2 7 0 .0 0 0
8 .9 4 4,000
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
Standards.........................................38%
Holl- 38 % 38 %
38 % 38 %
No. 2 white.......................................38% day
38% 39
39% 39%
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
December delivery In elevator___ 31% HollMay delivery In elevator.................34%
day
July delivery In elevator................. 34%
31%
34
34
31
33%
33%
31% 31%
34% 34
34% 34
The following are closing quotations:
D a n u b e ____ 1.360.000
A rgen tin a . .
568 .000
A u stralia . .
352 .000
I n d i a _______
296.000
144.000
O th .cou n tr’ s
6 0 .6 5 6 .0 0 0 10.880.000
6 55 .000
24.3 7 6 .0 0 0 1 4 ,3 12,000 2 .992.000
16.024.000
5 ,8 9 2 ,0 0 0
24.5 2 0 .0 0 0 125.608 .00 0
4 ,7 5 8 ,0 0 0
4 9.900.000
48.6 3 1 .0 0 0
10.964.000
5 5 .9 61.000
..................
T o t a l ____ 11792000 320 ,8 8 9 ,0 0 0 2 6 0 ,481 ,00 0 5,3 3 4 ,0 0 0 113,314 ,00 0
8 3 .9 5 7 ,0 0 0
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows: »
•
FLOUR.
W i n t e r , lo w g r a d e s ------- 5 2
W in t e r p a t e n t s ____________ 4
W i n t e r s t r a ig h t s ___________4
W i n t e r c le a r s ______________3
S p r in g p a t e n t s __________ 5
S p r in g s t r a ig h t s ................. 4
S p r in g c le a r s ......................... 4
7 5 @ $ 3 4 0 1 K a n s a s s t r a ig h t s , s a c k . 54 6 0 @ 5 4 8 5
80
K a n s a s c le a r s , s a c k s ___ 4 0 0 ® 4 4 0
25
C it y p a t e n t s ......................... 6 0 0 @ 6 8 0
75
R y e f l o u r . . ............................ 3 8 5 @ 4 4 5
25 „
G r a h a m H o u r ...................... 4 1 5 ® 4 25
80@
C o r n m e a l , k iln d r i e d . . . 2 7 5 @ 2 85
25®
W h e a t , p e r b u s h e l—
N . S p r i n g , N o . 1 ..................... 51 19
N . S p r i n g , N o . 2 . . _______ 1 16
R e d w in t e r . N o . 2 .................
98%
H a r d w in t e r , N o . 2 ................. 1 03
O a t s , p e r b u s h e l, n e w —
Cents.
S t a n d a r d s ___ _________________
38%
N o . 2 w h it e .........................3 9 %
N » . 3 w h i t e .................................
38 %
C o r n , p e r b u s h e l—
N o . 2 n e w . . . ___ f . o . b .
N o . 2 m i x e d _____f . o . b .
N o . 2 w h i t e ______ f . o . b .
R y e , p e r b u s h e l—
N o . 2 W e s t e r n __________
S t a t e a n d P e n n s y lv a n ia
B a r l e y — M a l t i n g __________
F e e d in g , o . l . f . , N . Y . .
Cents
52 %
N o m in a l
N o m in a l
85
80@ 81
89@ 92
N o m in a l
D e c.
D e c.
D e c.
D e c.
D e c.
24
17
25
26
28
1 9 1 0 -.
1 9 1 0 ..
1 9 0 9 ..
1 9 0 8 .1 9 0 7 ..
Wheat.
Com.
United
United
Kingdom. Continent. Total. Kingdom. Continent. Total.
Bushels. Bushels. Bushels. Bushels. Bushels. Bushels.
1 4.808.000 17.224.000 32 0 32 ,000
14.760.000 1 8.328.000 3 3 .0 8 8 .0 0 0
1 7.600.000 7.2 8 0 .0 0 0 2 4 .8 80.000
15.072.000 8.1 6 0 .0 0 0 2 3 .2 32.000
17.160.000 8,1 6 0 ,0 0 0 2 5 .3 20.000
7.1 3 9 .0 0 0 1 3.557.000
7 .0 2 9 .0 0 0 14.187.000
5 .8 6 5 .0 0 0 6.4 6 0 .0 0 0
4 .4 2 0 .0 0 0 5.7 8 0 .0 0 0
3 .3 6 0 .0 0 0 4.8 0 0 .0 0 0
2 0.696.000
21.2 1 6 .0 0 0
12.325.000
10.200.000
8 .1 6 0 ,0 0 0
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Dec. 24 1910, was as follows:
1786
T H E C H R O N IC L E
A M E R IC A N
Wheat,
bush.
Dec.
Dec.
Dec.
Dec.
24 1910. .43,929,000
17 1910- .42,994,000
25 1909- .27,362,000
26 1908. .51,676.000
906,000
12,000
47,000
228 000
157,000
138,000
5,000
349.000
400.000
123,000
469.000
75.000
1,000
114.000
110.000
357.000
33.000
217.000
6.576.000
501.000
885.000
3.023.000
327.000
233.000
1.639.000
78,000
11,000
32,000
8,000
121,000
6,000
3,300,000
2,094,000
7,387,000
6,994,000
16,129,000
15,711,000
11,106,000
10,248,000
Total Dec.
Total Dec.
Total Dpc.
Total Dec.
Total Dec.
Total Dec.
Total Dec.
1,251,000
24 1910. .10,638,000
17 1910. .10,822,000
25 1909- - 8,988,000
26 1908. - 5,755.000
7,000
8,000
38,000
25,000
SUMMARY.
1,251,000
1,321.000
481,000
206,000
24
17
25
26
28
29
30
1910- .54,567.000
1910- .53,816,000
1909- .36,350,000
1908- .57,431,000
1907 -.46,661,000
1906. .44,727,000
1905- .42,951,000
5,000
22,000
67.000
367.000
283.000
30.000
478,000 1,555,000
478.000 1,622,000
807,000 2,923,000
1,080,000 5,396,000
STOCKS.
7,000
Wheat,
bush.
29,000
25,000
825.000
311.000
262.000
131,000
Corn,
bush.
.43.929,000
Canadian.... .............. -10,638,000
Barley,
bush.
45.000
34.000
452.000
676.000
3,000
13.000
Wheat,
bush.
.......... ...........
Rye,
bush.
99.000
217.000
Montreal__________ . 283.000
. 3,450,000
. 2,893,000
95,000
- 3.917,000
A m erican
Oats,
bush.
385,000
C A N A D IA N G R A I N
Total Dec.
Total Dec.
Total Dec.
Total Dec.
STOCKS.
Com,
bush.
New York.... ............ . 2,580.000
- 288,000
. 460,000
. 539,000
Baltimore............... .. - 569,000
New Orleans .............
3,000
121,000
Buffalo ______ ____ - 2,691.000
“
afloat......... - 5,225,000
Toledo____________ - 1,416.000
Detroit .................... - 423,000
"
afloat..........
100.000
Chicago
................. - 5,739,000
Milwaukee................. 134,000
Duluth................ . . . 3,073,000
Minneapolis ............. -13,583,000
St. Louis.................. . 2,031,000
- 4,502,000
12,000
- 437,000
Total
Total
Total
Total
G R A IN
Corn,
bush.
3,300,000
7,000
Oats,
bush.
Oats,
bush.
16,129,000
1,251,000
Rye,
bush.
Barley,
bush.
97,000
97.000
83,000
126,000
51,000
Rye,
bush.
Barley,
bush.
478,000
1,555,000
97.000
3,307,000 17,380,000
478,000
2.102.000 17.032.000
478,000
7,425,000 11,587,000
807,000
7,019,000 10,454.000 1,080,000
3,485.000 7.586.000 1,055.000
4,619,000 13,012.000 1,702,000
11,877,000 28.053.000 2,386.000
1,652,000
1,705,000
3,049.000
5.4 17,000
5,870,000
3,475,000
6,310,000
TH E D RY GOODS TR A D E .
N e w Y o r k , F r i d a y N i g h t , D e c . 30 1910.
Textile markets generally ruled quiet during the week,
owing in a measure to the holiday period and to stock-tak
ing. In cotton goods no special feature developed outside
of a somewhat larger movement and better demand for cer
tain staples for prompt shipment; merchants as a rule were
disposed to wait for the turn of the year before making fresh
commitments. While sentiment is by no means optimistic,
there is in many quarters a more hopeful feeling regarding
the immediate future, due to the belief that the early part of
the new year will witness an improved demand. Jobbers,
whose stocks are known to be rather low, have stated that
they will need more goods, and will probably order more
freely as soon as their January shipments are out of the way.
Reports from the West and South indicate that there has
been a good distribution in those sections, and inquiries
that have already come forward encourage hopes of a better
application by Western and Southern buyers in the near
future. Prices were firmly held. In the primary market
for cotton goods, the same difficulty of adjusting selling
prices to costs of production which has confronted mills for
a long time past was in evidence, and mill agents continued
to talk of further curtailment unless conditions improve.
Cotton yarns remained quiet, with some irregularity in
prices, owing to scattered offerings of small lots at conces
sions; mills find it difficult to secure business at profitable
prices and are therefore disposed to increase curtailment.
Manufacturers of the better quality of woolen underwear
have in some cases done a satisfactory business on lines for
fall delivery, and the outlook generally for that-season has
improved; certain lines of fall cotton underwear have also
been taken in good volume, but on others trade has not been
up to expectations. Salesmen who have been canvassing
Southern territory report an unexpectedly large demand
there for underwear for prompt delivery, owing to un
usually cool weather in that section. A fair volume of or
ders was placed for fleeced hosiery for fall, but staples were
seasonably quiet and firm. Silk goods and ribbons continued
in good request. Aside from moderate reorders by cutters
for spring fabric, the dress goods market was dull and fea
tureless. In men’s wear the low prices named on overcoat
ings by leading producers for fall stimulated business in that
quarter.
DOMESTIC COTTON GOODS.— The exports of cotton
goods from this port for the week ending Dec. 21 were 2,184
packages, valued at $197,141, their destination being to the
points specified in the tables below:
■ New York to Dec.
G r e a t B r i t a i n ___
O th e r E u r o p e a n . .
C h in a ______ _______
I n d i a .............. ..
A r a b i a ......................... ..
24 —
*
.........................
W e s t T n d l e s ____________
M e x i c o __________________
C e n t r a l A m e r i c a ----------S o u t h A m e r i c a _________
O t h e r c o u n t r i e s ________ ---------------------------T ota l
..............................
Week.
4
171
___ ____ _____ 2,184
Since
Jan. 1.
1,857
060
50,395
14,899
15,240
6,037
33,744
1,997
13,557
50,189
48,794
247,278
Since
Week. Jan. 1.
27
2,024
8
1,102
508
25,512
208 16,036
465
15
1,719
07 13,783
495 53,855
139 23,636
1,962 364,116
[VOL. LXX.UI
The value of these New York exports since Jan. 1 has been
$17,705,458 in 1910, against $20,140,387 in 1909.
Trading in domestic cottons was moderate in the aggregate,
and prices generally steady. Brown and bleached goods,
though quiet, give promise of more activity later on. In
creased interest is being taken in wash fabrics on account of
early showings by retailers; jobbers and others will soon dis
play full lines of these goods. A fair business wasdone in
prints, both subcounts and standards. Colored cottons
met a moderate demand, especially the lower grades, but
prices in this division generally are unsatisfactory to manu
facturers. The call for ginghams was well maintained,
numerous duplicate orders being received, with requests for
early shipments. Further sales of a few thousand bales of
sheetings were made for China account on the basis of 6J^c.
less 3% for 4-yard oGxfiOs; this price shows little if any profit
to mills, but the sales, as heretofore, were made to keep cer
tain brands alive in that market. Some small sales were re
ported at prices a shade higher. Trade with miscellaneous
ports continued dull. Print cloths and convertibles ruled
quiet, orders being confined to small lots; standard gray goods
remain quotably unchanged, although spots are offered
slightly lower than contracts.
WOOLEN GOODS.—-Fancy staple and semi-staple over
coatings for next fall delivery displayed increased activity
as a result of the low prices named by large producers, and
the amount of business booked exceeded early expectations
of leading sellers. On some lines of fancy hcRvy-wchdit
fabrics the new prices are 10 to 15% lower than a year ago
while marked reductions have been made on staples. The
concessions were apparently made to stimulate an early ap
plication on the part of buyers, and, as indicated, the result
so far has been very satisfactory, especially in view of the fact
that one of the leading centres of consumption, Chicago, is
suffering from a strike of clothing operatives. Spring lines
of men’s wear were generally quiet; there was some demand
for staples and a few scattered re-orders on fancy suitings.
As this is the between-seasons period in dress goods, little
activity was noted in that market beyond fair duplicate
oders from the cutting-up trade for spring fabrics.
FOREIGN DRY GOODS.— Imported lines of fine suit*
ings, serges and light-weight cheviots for spring were in fair
demand in the shape of re-orders, and some initial business
for fall on foreign woolens and worsteds has been placed.
In linens, housekeeping lines were the most active, with prices
firmly held. Burlaps were quiet and a shade lower at 3.70c
for light-weights and 4.70c. for 10>^-ounce.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending Dec. 24 1910 and since
Jan. 1 1910, and for the corresponding periods of last year,
were as follows:
Deo. 31 l9io.|
T H E C H R O N IC LE
1787
Massachusetts
.— S t r e e t R a i l w a y s T h a t M e e t R e q u i r e m e n t s o f
S a v in g s B a n k L a w .
3 F T x c
C
h
r o
n
i c L
e
— The Railroad Commissioners have certi
fied to the Bank Commissioner, as required by Chapter 590,
Laws of 1908, the following street railway companies as
having annually earned and properly paid, without impair
ment of assets or capital stock, 5% dividends for the past
five years:
.
PUBLISHED WEEKLY.
T e r m s o f S u b s c r i p t i o n — P a y a b l e in A d v a n c e
F o r O n e Y e a r ........................................................................................................................ $ 1 0
F o r S i x M o n t h s .................................................
0
E u r o p e a n S u b s c r i p t io n ( in c l u d i n g p o s t a g e ) ] . ............................................. ] ] ! 1 3
E u r o p e a n S u b s c r i p t io n - i x m o n t h s ( in c l u d i n g p o s t a g e ) .............................
7
A n n u a l S u b s c r i p t io n in L o n d o n ( in c l u d i n g pi s t a g e ) .....................................£ 2
S i x M o n t h s S u b s c r i p t io n in L o n d o n ( in c l u d i n g p o s t a g e ) .............................£ 1
C a n a d ia n S u b s c r i p t io n ( i n c l u d i n g p o s t a g e ) ..................................................... $ 1 1
00
00
00
50
14s.
I t s.
50
B o s to n E le v a te d R a ilw a y C o .
B o sto n & N o rth e rn S tre e t R y . C o .
B o s to n & R e v e re E le c t r ic R y . C o .
C it iz e n s ’ E l e c . S t . R y . o f N e w b u r y p ’ t
D a rtm o u th & W e s tp o r t S t. R y . C o .
E a s t M id d le s e x S t r e e t R a i l w a y C o .
F it c h b u r g & L e o m in s te r S t . R y . C o
H o ly o k e S tre e t R a ilw a y C o .
S p r in g fie ld S t r e e t R a i l w a y C o .
U n io n S t r e e t R a i l w a y C o .
W e s t E n d S tre e t R a ilw a y C o .
W o r c e s t e r C o n s o li d a t e d S t . R y . C o .
The Boston & Northern Street Railway Co. has been added
to the list since last year, while the Pittsfield Electric Street
Railway Co. has been dropped.
Matteawan-Fishkill Landing, N. Y .— N a m e C h o s e n f o r
N e w C i t y . — A joint vote was taken Dec. 28 to choose bettveen
T erm s of A d ve rtisin g— Per Inch S p ace
the names of Beacon and Matteawan for the new city, to
T r a n s i e n t m a t t e r p e r i n c h s p a c e ( 1 4 a g a t e l i n e s ) ............................................... $ 4 2 0
comprise Matteawan and Fishkill Landing under the com
( T w o M on th s
( a t i m e s ) .................................. 2 2 0 0
atanU iTiir U naltiAfla P arrla ) T h r e e M o n t h s
(1 3 t i m e s ) .................................. 2 0 0 0
mission form of government. The name Beacon was chosen,
S t a n d in g B u s in e s s C a rd s < s i x M o n t h s
( 2 0 t i m e s ) .................................. 5 0 0 0
it is reported, by a majority of 196 votes.
(. T w e l v e M o n t h s (5 2 t i m e s ) ................................... 8 7 0 0
C H I C A G O O F F I C E — P l i n y B a r t l e t t , 513 M o n a d n o c k B l o o k ; T e l . H a r i l s o n 1012
M ississip p i. — N o r m a l S c h o o l B o n d s D e c la r e d V a l i d . — On
L O N D O N O F F I C E — E d w a r d s & S m it h , 1 D i a p e r s ’ G a r d e n s , E . C.
Dec. 19 the State Supreme Court rendered a decision up
WILLIAM I!. DANA COMPANY,-Publishers,
holding the validity of the $100,000 5% bonds of Forrest
P . O. I.OX05N.
F ron t, P in o m id D e p cy ste r 8 ts.,
N ow Y o r k .
County and the $150,000 5% bonds issued by the city of
Hattiesburg t<? secure the location of the State Normal School.
C E N S U S F IG U R E S O F P O P U L A T IO N .
Both issues were awarded to Weil, Roth & Co. of Cincinnati
Under date of Dec. 15 the Bureau of the Census issued a some weeks ago, before the litigation was started.
bulletin showing the population of all cities having in 1910
New York-New Jersey.— U . S . S u p r e m e C o u r t D e n i e s
at least 25,000 inhabitants. A list of such cities was printed A p p l i c a t i o n o f N e w Y o r k C i t y to I n t e r v e n e i n P a s s a i c V a l l e y
in the last number of the “ State and City Section,” issued S e w e r C a s e . — On Dec. 19 the United States Supreme Court
Nov. 26. The bulletin just made public includes eleven announced that it had denied the application on behalf of
cities the population of which we did not report in the Sup the city of New York for leave to intervene in the suit
plement, and five cities previously referred to, and the figures brought by the State of New York to enjoin the State of
for which have since been revised. The sixteen cities we New Jersey from constructing the Passaic Valley -sewer.
speak of are as follows:
See V. 90, p. 1376.
New York State.— C o m p t r o l le r 's R e p o r t to L e g i s l a t u r e o n
Population.
Per Cent of Inc.
CUies—
T r a n s f e r T a x L a w . — Comptroller Clark Williams in his forth
1 9 0 0 to 1 8 9 0 to
coming annual report to the Legislature points out serious
1910.
1900.
1890.
1910.
1900.
objections to the Inheritance Tax law as amended last sum
2 7 ,8 3 8
A t l a n t i c C i t y , N . J .................
4 6 ,1 5 0
1 3 ,0 5 5
6 5 .8
1 1 3 .2
mer and recommends that that body consider the detri
3 9 ,4 4 1
4 1 ,0 4 0
3 3 ,3 0 0
4 .1
A u g u s t a , G a ..............................
1 8 .4
3 8 ,5 3 7
3 3 ,9 8 8
2 0 ,2 2 6
mental effect of the law in its present form upon the general
1 3 .4
C h e s t e r , P a ......... .......................
6 8 .0
3 3 ,1 1 5
4 8 .1
5 2 ,9 6 9
D u lu t h , M i n n . .........................
7 8 ,4 6 6
6 0 .0
interests of the State. The amendments to which the
1 1 ,8 7 2
1 4 ,2 3 0
7 8 .9
H a z l e t o n , P a ________________
2 5 ,4 5 2
1 9 .9
Comptroller refers provided for a system of graded taxes
1 6 4 ,7 3 8
4 8 .7
M in n e a p o l is , M i n n _________ 3 0 1 ,4 0 8
2 0 2 ,7 1 8
2 3 .1
N e w b u r g h , N . Y ____________
2 3 ,0 8 7
1 1 .5
2 4 ,9 4 3
8 .0
2 7 ,8 0 5
under which the rate of taxation increases in proportion to
O g d e n , U t a h ________________
1 4 ,8 8 9
5 6 .8
9 .6
1 6 ,3 1 3
2 5 ,5 8 0
the size of the bequest. (See editorial remarks in our issues
P o r t l a n d , O r e _______________ 2 0 7 ,2 1 4
4 6 ,3 8 5
1 2 9 .2
9 0 ,4 2 6
9 4 .9
S e a t t l e , W a s h _________
4 2 ,8 3 7
1 9 4 .0
2 3 7 ,1 9 4
8 0 ,6 7 1
8 8 .3
of July 30, Sept. 3 and Dec. 3.)
S h e b o y g a n , W l s _____
1 5 .0
2 6 ,3 9 8
1 6 ,3 5 9
4 0 .4
2 2 ,9 6 2
Subscription includes following Supplements—
B ink and Quotation (monthly)
|Spate and City (semi annually)
Railway and Industrial (quarterly) Electric Railway (3 times yearly)
Railway Earnings (monthly)
|Bankers’ convention (yearly)
S p o k a n e , W a s h ___
S u p e r i o r , W l s ______
T a com a , W ash
T a m p a , F l a ______
W a r w ic k , R . I
1 0 4 ,4 0 2
4 0 ,3 8 4
8 3 ,7 4 3
3 7 ,7 8 2
2 6 ,6 2 9
3 6 ,8 4 8
3 1 ,0 9 1
3 7 ,7 1 4
1 5 ,8 3 9
2 1 ,3 1 6
1 0 ,9 2 2
1 1 ,9 8 3
3 6 ,0 0 6
5 ,5 3 2
1 7 ,7 6 1
1 8 3 .3
2 9 .9
1 2 2 .0
1 3 8 .5
2 4 .9
8 5 .0
1 5 9 .5
4 .7
1 8 6 .3
2 0 .0
N e w s Ite m s.
Babylon, Suffolk County, N. Y .— B o n d s D e c la r e d L e g a l .—
In a decision recently rendered by Justice Stapleton of the
Supreme Court $5,000 bonds issued by this village for the
purchase of land for a shore front park are held to be legal.
Dolores County (P. O. Rico), Colo.— L i t i g a t i o n . — Suit was
started in the District Court on Dec. 13 by the Co-operative
Savings & Loan Association of Denver to recover on two
bonds of $500 each, which matured, it is stated, on Jan. 1
1905 and Mav 1 1906, respectively.
East Side Levee and Sanitary District, St. Clair County,
111. — -A c t C r e a t in g D i s t r i c t U p h e l d b y S u p r e m e C o u r t . — The
Act of the Legislature creating this district was held to be
constitutional in a decision rendered by the State Supreme
Court on Dec. 8, affirming a judgment which had been ob
tained by the County Treasurer against W. J. Bowman for
delinquent taxes due the district. The purpose for which
the district was created was to construct a levee for the pro
tection of the City of East St. Louis and other cities in the
neighborhood and lands from being flooded by the overflow
of the Mississippi River.
Jamestown, Chautauqua County, N. Y .— V a l i d i t y o f
C e r ta in C i t y B o n d s Q u e s t i o n e d . —-At a meeting of the Common
Council on Dec. 27 Corporation Counsel B. S. Dean an
nounced his opinion that nearly $1,000,000 of the city's out
standing obligations arc invalid, no provision having been
made for raising a sinking fund and interest by annual tax,
as the law requires. Attention was called to this defect by
the law firm of Caldwell & Reed, who examined the records
for the $40,000 issue of hospital bonds awarded on Nov. 4,
as stated in V. 91, p. 1400, to W. C. Langley & Co. of New
York City. Mr. Dean recommends a legislative enactment
to validate the other bond issues on which the city has se
cured and used the money.
^Manitowoc, Wis.— P r o p o s e d P u r c h a s e o f W a t e r P l a n t .—
The City Council on Dec. 19 voted to appeal to the State
Railroad Rate Commission for immediate condemnation of
the plant of the Manitowoc Water Works Co. for city pur
chase. According to local papers the water company, dur
ing the Socialist administration, offered its plant for $235,
000, the city to pay $35,000 in cash and assume the $200,000
bonded debt. This proposition was rejected. It is said
that the State Railroad Commission fixed the physical value
of the plant at $233,000, but since that appraisement more
than $20,000 has been spent in improvements.
T h e C o m p t r o l le r c a lls a t t e n t i o n t o t h e t e n d e n c y t o e v a d e t h e t a x b y
e f f e c t i n g a c h a n g e o f d o m i c i l e a n d p r e d i c t s t h a t a s a r e s u lt o f s u c h a c t io n
b y t h e w e a lt h ie r c la s s e s t h e r e v e n u e d e r i v e d f r o m t h e t a x w ill e v e n t u a l l y
b e less t h a n c o l l e c t e d u n d e r t h e lo w e r r a t e s .
C o m p t r o l le r W i ll ia m s s a y s :
“ I d o n o t b e l ie v e t h a t I a m v o i c i n g fa ls e fe a r s w h e n I p r e d i c t t h a t s u c h
a c t io n w ill b e t a k e n b y o u r w e a lt h y c it i z e n s .
E v i d e n c e Is n o t l a c k in g t h a t
t h e e x o d u s h a s a lr e a d y b e g u n .
A l t h o u g h t h e r e t u r n s f r o m t h e t r a n s fe r
t a x f o r n e x t y e a r m a y s h o w a n I n c r e a s e , I f e e l c e r t a in t h a t u n le s s t h e la w
Is g r e a t l y m o d i f i e d , t h e r e t u r n s f iv e y e a r s h e n c e w ill b e le s s t h a n t h e y w e r e
u n d e r th e o ld ra te s .
N o r w ill t h e lo s s o f r e v e n u e f r o m s u c h a n e x o d u s
b e c o n f in e d t o t h e t r a n s fe r t a x a l o n e .
T h e retu rn s fro m th e ta x o n p er
s o n a l p r o p e r t y c a n n o t fa ll t o r e fl e c t t h e ir g o i n g .
" I t h i n k t h e L e g i s l a t u r e s h o u l d c o n s i d e r w e ll b e f o r e c o n t i n u i n g a p o l i c y
w h ic h w ill r e s u lt In d r i v i n g b e y o n d o u r b o r d e r m e n w h o h a v e a la r g e I n te r
e s t In t h e m a t e r ia l d e v e l o p m e n t o f o u r S t a t e a n d w h o a r e g e n e r o u s c o n
t r ib u t o r s t o t h e s u p p o r t o f Its c h a r i t a b le a n d e d u c a t i o n a l I n s t i t u t i o n s ."
Regarding the effect of the law upon investments in domes
tic corporations, the report says:
" A s e c o n d o b j e c t i o n w h ic h m a y b e u r g e d a g a in s t t h e p r e s e n t la w Is t h e In
j u s t i c e w h ic h It d o e s o u r d o m e s t i c c o r p o r a t i o n s .
T h is Is n o t a t h e o r y b u t
a c o n d it io n .
I n s t a n c e s h a v e l a t e ly b e e n b r o u g h t t o m y a t t e n t io n In w h ic h
f o r e i g n c a p i t a l s e e k i n g I n v e s t m e n t In N e w Y o r k t h r o u g h b a n k in g h o u s e s
w h ic h , b y r e a s o n o f t h e ir c o n n e c t io n s , w o u ld u n d e r n o r m a l c o n d i t i o n s
h a v e I n v e s t e d It In t h e s t o c k s o f d o m e s t ic c o r p o r a t i o n s , h a s b y r e a s o n o f t h e
h a r d s h ip o f t h is la w b e e n d i v e r t e d f r o m t h e n a t u r a l c o u r s e a n d I n v e s t e d In
t h e s t o c k s o f c o r p o r a t i o n s d o m i c i l e d In o t h e r S t a t e s .
N o a r g u m e n t Is
n e e d e d t o s h o w t h e e f f e c t w h ic h a c o n t i n u a n c e o f t h e p r e s e n t p o l i c y m u s t
h a v e u p o n th e c o r p o r a t io n s d o m icile d h e re .
’ ’ T h e g r e a t c u s t o d i a l I n s t it u t io n s I n c o r p o r a t e d u n d e r t h e b a n k in g la w o f
t h e S t a t e t o c a r e f o r t h e p r o p e r t y o f Its c it i z e n s a r e lik e w is e s u f fe r in g lo s s
o f p a t r o n a g e d u e t o t h e e x a c t i o n s o f t h is la w .
I t h e r e fo r e r e c o m m e n d t h a t
t h e L e g is la t u r e g i v e s e r io u s c o n s i d e r a t io n t o t h e e f f e c t o f t h e p r e s e n t t r a n s f e r
t a x la w u p o n t h e g e n e r a l I n t e r e s ts o f t h e S t a t e . ”
O hio. — S u p t e m e C o u r t R e n d e r s D e c i s i o n C o n c e r n i n g B o r r o w
in g C a p a c ity o f M u n ic i p a l i t ie s .
— The State Supreme Court
rendered a decision Dec. 20 in the case of the city of Cleve
land, holding that a municipality may become bonded up
to 4% of the tax duplicate without a vote of the people, and
may borrow an additional 4% with the voters’ approval, or
8% in the aggregate. As stated some weeks ago, the suit
was a friendly one brought to test the legality of $790,000
bonds recently put out by the city of Cleveland. See V. 91,
p . 1274.
N e w L a w L i m i t i n g B o n d i n g P o w e r o f M u n i c i p a l i t i e s . — In
connection with the above it is proper to state that an Act
passed by the Legislature on May 10 1910, and which goes into
effect Jan. 1 1911, amends Sections 3942, 3945, 3948 and
3954 of the General Code so as to limit the bonding power of
townships and municipal corporations to 5% of the tax
duplicate. _ The sections of the General Code to which we
refer are given below, the new words being printed in italics
and the parts of the law to be eliminated being placed in
brackets.
S E C T IO N 7 .
T h a t s e c t io n s t h i r t y - n i n e h u n d r e d a n d f o r t y - t w o , t h i r t y n in e h u n d r e d a n d f o r t y - f i v e , t h i r t y - n i n e h u n d r e d a n d f o r t y - e i g h t a n d
t h i r t y - n in e h u n d r e d a n d f i f t y - f o u r o f t h e G e n e r a l C o d e b e a m e n d e d t o r e a d
as fo llo w s S ec. 3942.
T h e n e t I n d e b t e d n e s s I n c u r r e d b y (a] any township or m u n i c i
p a l c o r p o r a t i o n f o r [s u c h ] the p u r p o s e s mentioned in sections thirty-two hun
dred and ninety-fire and thirty-nine hundred and thirty-nine of the General
Code s h a ll n e v e r e x c e e d [fo u r ] two and one-half p e r c e n t o f t h e t o t a l v a lu e
o f a ll t h e p r o p e r t y In s u c h c o r p o r a t i o n or township, a s lis t e d a n d a s s e s s e d
f o r t a x a t i o n , u n le s s t h e e x c e s s o f s u c h a m o u n t Is a u t h o r i z e d b y v o t e o f t h e
q u a lifie d e l e c t o r s o f t h e township or c o r p o r a t i o n In t h e m a n n e r h e r e in a f t e r
p r o v id e d .
1788
T H E C H R O N IC L E
BfSeo. 3945. Such limitation ot one per cent and [four] two and one-half per
cent hereinbefore prescribed shall not afcfect bonds lawfully issued for such
purposes upon the approval of the electors of the township or corporation.
Sec. 3948. Before any bonds In excess of such limitations of one per cent
and two and one-half [tour] per cent arc Issued [or] and tax lexled, the ques
tion of Issuing them shall be suomitted to the voters of the township or
corporation at a general or special election.
jjS e o . 3954. No municipal corporation or township shall create or Incur a
net Indebtedness under the authority of this chapter in excess of five [eight]
per cent of the total value of all the property In such township or corpora
tion as listed and assessed for taxation. Bonds Issued In good falthforsuch
purposes, which at the time of Issue were within the limitations [herein
provided] existiny at the time of such issue, shall be valid obligations of the
township or municipal corporation which Issued them. In ascertaining
the limitations ot such [eight] five per cent and of such two and onehalf [four] per cent, all such bonds shall be considered, except those
[hereinbefore] specifically excluded by section thirty-nine hundred and fortysix of the General Code.
Pen nin gton County (P . 0 . Thief R iver F a lls ), M in n .—
fVOTi. t.xxxxi.
A n g o la , Erie C ounty, N . Y . — B o n d S a l e . — On Dec. 22 the
$55,000 5-29-year (serial) coupon water-works bonds de
scribed in V. 91, p. 1659, were awarded to Isaac W. Sherrell
of Poughkeepsie at 100.25 for 4j^s.
Ann
A rb or,
W a sh te n a w
C ounty, M ich .— B o n d
E lectio n
— An ordinance is before the Council providing for
an election to vote on the question of issuing hospital bonds.
We are informed, however, that no further action will bo
taken before January or February.
A rd m o re, F all R i/e r C ounty, S o. D a k .— B o n d O f f e r i n g .—
Proposals will be received until 5 p. m. Jan. 15 1911 (this
date falls on Sunday, but it is so given in the official adver
tisement) by C. II. Hartman, Village Clerk, for $4,000 5%
L i t i g a t i o n . — A hearing will be had Jan. 6 on an application
coupon water-works bonds.
filed with the State Supreme Court Dec. 27 for a writ of pro
Authority Chapter 173, Laws of 1905. Denomination $500. Date
hibition to stop the proceedings started by certain citizens Jan. 1 1911. Interest annually at the Ardmore State Bank In Ardmore.
Maturity Jan. 1 1931. Bonds are tax-exempt. Certified oheok for 2% of
of Red Lake County to annul the creation out of that county bid, payable to the Town of Ardmore. Is required. No debt at present.
of the new county of Pennington.
A sh la n d , Jackson C ounty, O re. — B o n d s D e f e a t e d . — It is
Spokane,
W a s h .— C o m m i s s i o n
Form
of
G overn m en t
stated that an election held Dec. 14 resulted in a defeat of
A d o p t e d . — The commission form of municipal government
propositions providing for the issuance of the $170,000 waterwas adopted at a recent election, according to dispatches.
works-systera improvement bonds mentioned in V. 91,
T e x a s .— D e c i s i o n o f S u p r e m e C o u r t A f f e c t i n g I s s u a n c e o f p. 1526.
B o n d s f o r R o a d a n d S t r e e t I m p r o v e m e n t . — On Dec. 14 the
A sh tab u la , A sh tab u la C ounty, O hio.— B o n d s A u t h o r i z e d .
State Supreme Court granted a writ of mandamus directing — Local papers state that the City Council has authorized the
the Attorney-General to approve certain bonds issued for issuance of $2,700 street bonds.
street improvement by the city of Longview. The right to
A sh tab u la School D istrict (P . O. A sh ta b u la ), O h io.—
issue the bonds was claimed under a law enacted by the last B o n d s A u t h o r i z e d . — The issuance of $10,000 coupon schoolLegislature permitting bonds to be issued against the 15c. addition bonds has been authorized, according to reports.
road and bridge tax heretofore used only for purposes of Denomination $500. Maturity $500 yearly on Oct. 1 from
repair and current expenditures for such purpose. The 1912 to 1931 inclusive.
Attorney-General held that the Act referred to was uncon
A u b u rn , A nd roscoggin C ounty, M e .— B o n d S a l e . — On
stitutional, the 15c. tax having been created for current use,
and therefore could not be used to support a bond issue. Dec. 27 $24,000 4% sewer bonds were awarded to Hayden,
The Supreme Court decides that this contention is wrong and Stone & Co. of Boston at 101.876.
Denomination $500. Date Jan. 2 1911. Interest semi-annual. Ma
that the Legislature had the power to enact the law in ques turity
Jan. 2 1921.
tion.
A u stin , T ravis C ounty, T e x a s . — B o n d s R e g i s t e r e d . — The
V ick sb u rg , W a rren C ou n ty, M is s .— C i t y S e l l s R a il r o a d State Comptroller on Dec. 24 registered $75,000 5% school
S t o c k . — According to New Orleans papers, the city has agreed
bonds. Maturity “serially after 5 years.”
to sell to the Illinois Central RR. Co. for $50,000 its holdings
Bee County (P . O. B eeville), T e x . — B o n d O f f e r i n g . — Pro
of $100,000 stock in the Louisville New Orleans & Texas posals
will be received until Jan. 9 1911 for the $75,000 4)^%
RR., now the Yazoo & Mississippi Valley RR. Co. (Illinois 10-40-year
Central system). The stock was given to the city some years p. 1048. (optional) court-house bonds mentioned in V. 91,
ago, it is said, for right-of-way privileges and other consid
Bell County Com m on School D istrict N o . 3 , T e x .— B o n d
erations.
S a l e . — The $1,000 5% 5-10-year (optional) bonds registered
W is c o n s in . — P r o p o s e d I n c o m e T a x B i l l . — An income tax
by the State Comptroller on Sept. 27 (V. 91, p. 976) have
bill has been prepared by a special legislative committee been awarded to the Bell County Permanent School Fund at
and will be recommended for passage to the Governor.
par and accrued interest.
The measure Is said to provide that an Income tax shall go Into effect
April 1 1912. Interest, dividends and profits of all character from bonds,
notes, loans or any other securities and earnings from a profession or a
business are among the provisions upon which the tax shall be reckoned.
On Incomes ranging from $1,000 to $12,000 and over the bill provides, it Is
stated, for a graduated tax ranging from 1 to 6% . Single persons with a
$600 income and an $800 income of husband and wife arc exempt from
taxation.
P rop osed .
Bell County Com m on School D istrict N o . 4 2 , T e x .— B o n d s
P a r t . — Of the $4,000 5% 5-40-year (optional)
bonds registered by the State Comptroller on Sept. 27 (V. 91,
p. 976), $1,500 have been sold to the Bell County Permanent
School Fund at par and accrued interest.
A w arded in
B ellevue,
B o n d P r o p o s a ls a n d N e g o tia t io n s
th is w e e k
h a v e b e e n as f o l l o w s :
A llegheny
C ounty,
P a .— B o n d
E le c tio n
P ro
— An election, it is stated, to vote on the question of
issuing $25,000 street-improvement bonds is being con
sidered by the Borough Council.
Beloit, R ock C ounty, W i s . — B o n d S a l e . — On Dec. 22 the
$25,000 coupon refunding bonds described in V. 91, p. 1659,
were awarded to the Second National Bank in Beloit at
104.80 and accrued interest as 4)^s. The following bids were
received:
p osed .
A berd een , Brow n C ou n ty, So. D a k . — B o n d E l e c t i o n . — An
election will be held Jan. 10, according to reports, to vote
on the question of issuing $100,000 sewer-system-extonsion
bonds.
A berd een , Chehalis C ou n ty, W a s h .— B o n d S a l e . — On
13.II.Rollins & Sons.Chic.$25,337 50
For 4
Bonds.
Dec. 7 the $275,000 coupon Filing District No. I local- Second Nat.
Bk., Beloit. .$26,200 00 Win.It.Compton Co.,St.L. 25,275 00
improvement bonds described in V. 91, p. 1275, were N. VV. Halsey & Co., Chic. 25,630 00 C. 13. Denison & Co., Bos. 25,272 75
B. Leach & Co., C hic.. 25,512 00 Coffin & Crawford, C hic.. 25,245 00
awarded to the Tacoma Dredging Co. at 95 and accrued A.
H. T. Holtz & Co., C hic.. 25,507 00 Harris Tr. & Sav. Bk., Ch. 25,221 00
Beloit State Bank, Beloit. 25,062 50
interest.
Emery.Pcck & Rockwood,
Chicago ......................... 25,472 50
A d a , Pon totoc C ou n ty, O k la .— B o n d s V o t e d . — An election Parson, Son & Co., C hic.. 25,461 50
For 5% Bonds.
S. A. Kean & Co., C hic...$25,876 00
held recently is said to have resulted in a favorable vote on National City Bank, Chic. 25,412 50 J.
I). O’ Brien & Co., Bos. 25,750 00
Continental
&
Commercial
the question of issuing the $100,000 water-works-extension
Trust & Sav. Bank,Chic 25,387 50 Seasongood & Mayer, Cln 25,705 00
Beloit Sav. Bank, B eloit.. 25,342 50 C. H. Coffin, Chicago___ 25,552 00
bonds mentioned in V. 91, p. 1195.
N. W. Halsey & Co. of Chicago also bid $25,037 50 for 4 Ms.
A ik e n , A iken C ou n ty, So. Caro.— B i d s R e je c t e d . — All bids
Maturity $1,000 yearly on Jan. 1 from 1912 to 1926 Inclusive and $2,000
received on Dec. 15 for the $78,000 4 ^ % 20-40-year (op yearly
on Jan. 1 from 1927 to 1931 Inclusive.
tional) coupon water-works-extension bonds described in
B oone, Boone C ounty, I o w a . — B o n d O f f e r i n g . — Proposals
V. 91, p. 1526, were rejected. The highest bid received was will be received until 7:30 p. m. Jan. 18 1911 for $150,000
one of 95 and accrued interest.
4% water-works bonds.
A lbe rt L e a , Freeborn C ou n ty, M in n .— B o n d S a l e . — The
Authority vote of 1,624 to 23 at election held Deo. 12. Maturity May 1
following loans, offered on Dec. 13 and described in V. 91, 1931, subject to call after May 1 1921.
p. 1585, were purchased by Butler Bros, of St. Paul as 5s.
B ucyrus, Crawford C ounty, O hio. — B i d s . — The following
bids were received on Dec. 22 for the $25,000 4j^% coupon
$ 9 1 ,0 0 0 p e r m a n e n t I m p r o v e m e n t r e v o l v i n g f u n d c e r t i f ic a t e s .
M a t u r it y
J an . 1 1921.
(city’s portion) street-improvement bonds awarded, as
1 8 .0 0 0 ( c i t y ’ s p o r t io n ) I m p r o v e m e n t b o n d s .
M a t u r it y J a n . 1 1 9 2 5 .
stated in V. 91, p. 1723, to the Bucyrus City Bank in Bucyrus
2 0 .0 0 0 b o n d s , o f w h ic h $ 1 5 ,5 0 0 w ill b e u s e d t o f u n d o u t s t a n d i n g w a t e r
w a r r a n t s a n d $ 4 ,5 0 0 t o e x t e n d t h e w a t e r m a in s .
M a t u r it y $ 2 ,0 0 0
at 102.99 and accrued interest.
y e a r l y o n J a n . 1 f r o m 1 9 1 6 t o 1 9 2 5 I n c lu s iv e .
A llen tow n School D istrict (P . O . A llen to w n ), Lehigh
C ou n ty, P a .— B o n d S a l e . — On Dec. 27 the $170,000 4%
BucyrusClty Bk..Bucyrus $25,747 50 Seasongood & Mayer, C ln.$25,583 00
Dayton Savings & Trust
Breed & Harrison, Clncln. 25,550 00
Co.. D a y t o n ................ 25,725 00 First National Bank. Buoy.25.545 29
Davlcs-Bertram Co., Cln. 25,663 00 N. W. Harris & Co., N. Y . 25,544 00
Well, Roth & Co., Clncln. 25,645 00 Farmers’ & CIt. Bk., Buoy.25,495 00
Barto, Scott & Co., Colum. 25,621 00 Second Nat. Bk.. Bucyrus 25,450 00
Buffalo, N . Y . — L o a n A u t h o r i z e d . — The issuance of $100,
coupon refunding and school-building bonds described in
V. 91, p. 1659, were sold to local investors, including the
Merchants’ Bank and the Lehigh Valley Trust & Safe De
000 4 % temporary bonds or certificates of indebtedness due
posit Co., for $171,606 80— an average price of 100.945.
A n ah eim School D istrict, Orange C ou n ty, C al.— B o n d s July 1 1911 has been authorized for the purpose of paying
D e f e a t e d . — The election held Dec. 17 resulted in a vote of part of the cost of purchasing lands to be used as as ite for
63 “ for” to 102 “ against” the proposition to issue the school the new technical high school.
building and playground bonds mentioned in V. 91, p. 1526.
Burnet County Com m on School D istrict N o . 1 5 , T e x a s.—
A n d rew s County (P . O. Shatter L a k e ), T e x a s .— B o n d E l e c B o n d s R e g i s t e r e d . — On Dec. 20 the State Comptroller regis
t i o n . — An election will be held to-day (Dec. 31), according to tered $800 5% 5-20-year (optional) bonds.
Butler School D istrict (P . O. B u tler), Butler C o u n ty, P a .—
reports, to vote on a proposition to issue $8,000 court-houseconstruction bonds.
gjij $ .5} £ vj
B o n d s N o t S o l d . — Up to Dec. 28 no sale had yet boon made
Dec;. 3 L 1910.
T H E C H R O N IC L E
1789
of the $50,000 4% Series “ II” bonds offered on Dec. 5 and bonds offered on Dec. 1 and described in V. 91, p. 1276,
described in V. 91, p. 1526.
have been sold to S. A. Kean & Co. of Chicago at par.
Caldwell County (P. O. Lockhart), Tex.— V o t e o n B o n d s .—
Cincinnati, O hio. — B o n d S a l e . — Dispatches state that
We are advised that the vote cast at the election held Dec. 19, the $1,000,000 40-year boulevard and park, $1,000,000 50which resulted in favor of the proposition to issue the $25,000 year hospital and the $800,000 40-year grade-crossing5% 10-40-year (optional) Road District No. 2 gravel-road abolition 4% coupon bonds offered on Dec. 29 and described
bonds (V. 91, p. 1723), was 53 “ for” to none “ against.” in V. 91, p. 1526, were awarded, it is stated, to Wm. L.
Our informant further states that no action will be taken Salomon & Co. and Rhoades & Co., both of New York City,
looking towards the issuance of these bonds until the regular at their bid of 100.66 for each issue. Bonds are dated Dec.
term of the Commissioner's Court, which meets Feb. 13 1911. 15 1910.
B o n d s A u t h o r i z e d . — Ordinances have been passed pro
Calexico, Imperial County, Cal.— B i d s R e j e c t e d .— All bids
received on Dec, 20 for the $35,000 6 % gold sewer-system viding for the issuance of the following 4% coupon bonds:
$7,500 2 0 -y e a r M o A lp in an d S h e rlo ck A v e s . Im p ro v e m e n t b o n d s, d a te d
bonds described in V. 91, p. 1526, were rejected.
D e c. 1 1910.
Calhoun County (P. O. Anniston), Ala.— B o n d E l e c t i o n
7,5 0 0 2 0 -y e a r W . E igh th S t. se w e r-im p ro v e m e n t ( c it y ’ s p o r tio n ) b o n d s ,
d
a te d D e c. 1 1910.
P r o p o s e d .— The question of calling an election to vote on the
6.0 0 0 2 0 -y e a r Cass A v e . Im p ro v e m e n t ( c i t y ’ s p o r tio n ) b o n d s d a ted
issuance of from $300,000 to $400,000 good road bonds is
D e c. 1 1910.
9.0 0 0 2 0 -y e a r W e llin g to n P la ce (c it y ’ s p o rtio n ) b o n d s d a te d D e c. 1 1910.
being agitated.
f.OOO 1 5 -yca r B a ltim o re A v e . w id e n in g b o n d s d a ted D e c. 1 1910.
Calhoun County (P. O. Port Lavaca), Tex.— B o n d O f f e r
2 2 .000 2 0 -y e a r a lle y an d s tr e e t-im p ro v e m e n t ( c it y ’s p o rtio n ) b on d s d a ted
_
D e c. 1 1910.
i n g . — Proposals will be received until 12 m. Jan. 2 1911 by
2 0 -y e a r w a to r-w o rk s -Im p r o v e m e n t b o n d s d a te d Ja n . 2 1911.
the County Commissioners’ Court for the following 5% bonds,
9.0 0 0 2 0 -y e a r M a p le w o o d A v e . o p e n in g b o n d s d ated D e c 1 1910.
1,500 10-year R ltte n h o u s e S t. sew er ( c it y ’s p o rtio n ) b o n d s d a te d D e c. 1
which, as already reported in these columns, have been
registered by the State Comptroller.
2 5 .0 0 0 3 0 -ye a r fire-h ou se b o n d s d a te d D e c. 15 1910.
$44 ,000 10 -4 0 -y ea r (o p tio n a l) co u rt-h o u s e b o n d s.
5.000 5 -2 0 -y ea r (op tio n a l) b o n d s o f C o m m o n S ch o o l D istrict N o . 10.
4.0 0 0 5 -2 0 -y ea r (o p tio n a l) b on d s o f C o m m o n S c h o o l D istrict N o . 5.
C crtllled ch e ck fo r 5 % o f b id Is r e q u ire d . W . C. B est is C o u n ty C lerk.
Cameron County (P. O. Brownsville), Tex.— B o n d s A u
We see it stated that at a meeting of the Drainage
Commissioners held Dec. 15 the issuance of the $204,500
5% 30-year Drainage District No. 1 bonds was authorized.
As reported in V. 91, p. 1466, these bonds have already been
authorized by the County Commissioners.
Canton, Stark County, Ohio.— B o n d O f f e r i n g . — Proposals
will be received until 12 m. Jan. 9 1911 by Emmet C. Brum
baugh, City Auditor, for the following 4 Y /f o sewer-construc
tion bonds:
th o r i z e d . —
$ 5 ,4 0 0 b o n d s.
D e n o m in a tio n $ 1 ,0 0 0 , e x c e p t o n e b o n d o f $40 0. M atu rity
on S e p t. 1 as fo llo w s: $1,000 in 1012 a n d 1913, $2,0 0 0 In 1914 and
$1,400 in 1915.
1,900 b o n d s.
D en o m in a tio n s: $1,0 0 0 an d $ 90 0. M a tu r ity $ 1 ,0 0 0 on
S e p t. 1 1913 an d $900 S e p t. 1 1915.
D ate S e p t. 1 1910. in te re s t se m i-an n u al. C crtllled c h e c k o n som e
ban k In C a n ton fo r 5 % o f bon d s bid fo r , p a y a b le t o th e C ity T reasu rer,
Is r eq u ired . P u rch a ser t o furnish blank b o n d s at his o w n e x p e n s e .
Carter County (P. O. Van Buren), Mo.— B o n d s D e f e a t e d .—
The proposition to issue the $20,000 court-house bonds men
tioned in V. 91, p. 895, was defeated.
Cass County (P. O. Atlanta), Iow a.— B o n d S a l e . — The
Harris Trust & Savings Bank of Chicago was awarded on
Nov. 14 an issue of $35,000 4)^ % bridge-work bonds at par.
D en om in a tion $ 1 ,0 0 0 .
D ate Ja n . 1 1911. In te re st an n u a l. M a tu r ity
J a n . 1 1926, s u b je c t t o call o n e -th ird In each o f th e years 1916 an d 1921.
, 7 *500 2 0 -y e a r sew er ( c it y ’ s p o rtio n ) b o n d s d a te d D e c. 15 1910.
^.0-year S ta tio n A v e n u e im p ro v e m e n t ( c i t y ’s p o rtion )
d a te d Jan . 1 1 9 1 1 .
D e n o m in a tio n $500 o r m u ltip les th e r e o f. In te re s t se m i-an n u al.
21.000
b on d s
Claude Independ ent School D istrict (P . O. C laude), A r m
strong C ou n ty, T e x a s .— B o n d s R e g i s t e r e d .— The State Comp
troller registered $4,000 5% 10-20-year (optional) bonds
on Dec. 20.
Cleveland, Ohio.— B o n d S a l e . — On Dec. 27 the $500,000
4% 30-year coupon grade-crossing bonds described in V. 91,
p. 1526, were sold to Otis & Hough and Hayden, Miller & Co.,
both of Cleveland, at par.
Clinton C ounty (P . O . P la ttsb u rg h ), N . Y . — B o n d S a l e .—
W. N. Coler & Co. of New York City, offering 103.03, were
the successful bidders on Dec. 15 for the $110,000 4
registered refunding bonds described in V. 91, p. 1586.
M a tu rity o n Ja n . 2 as fo llo w s : $3,000 in each o f th e years 1912 a n d 1913
an d $4,0 0 0 y e a rly fro m 1914 to 1939 In clu sive.
Coal G rove, Law rence C ou n ty, O hio.— B i d . — A bid of
102.55 was received from the Dresden National Bank in
Dresden for the $2,000 5% 5-year coupon prison bonds
offered on Dec. 15 and described in V. 91, p. 1586.
Colem an County C om m on School D istricts, T e x .— B o n d
We are advised that the $2,000 5% 5 - 10-year (op
tional) School District No. 35 and the $3,000 5% 10 - 2 0 -year
S a l e .—
(optional) School District No. 37 bonds registered by the
Central Park Graded School District (P. O. McHenry), State Comptroller on Nov. 4 (V. 91, p. 1343) have been sold.
Colem an County C om m on School D istrict N o . 3 0 , T e x .—
Ohio County, K y.— B o n d s O f fe r e d b y B a n k e r s . — An issue of
$ 6 ,0 0 0 6 % 10 -‘2 0 -year (optional) school-building bonds is D e s c r i p t i o n o f B o n d s . — The $500 5% 5-10-year (optional)
bonds registered by the State Comptroller on Oct. 26 (Y. 91,
being offered to investors by Cutter, May & Co. of Chicago.
p. 1276) are in denomination of $100 and dated April 15 1910.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te N o v . 1 1910. In te re st s e m i-a n n u a lly at
Interest annually on April 1 .
th e W es tern T ru st & S av in gs Bank In C h ica g o . T o ta l b o n d e d d e b t , this
I
ue
A ssessed v a lu a tio n $30 3 ,0 0 0 .
R e a l v a lu e (e s tim a te d ), $ 5 0 0 ,0 0 0 .
Chatham Township School District (P. O. Chatham),
Morris County, N. J .— B o n d S a l e . — The $4,000 5% 10 -year
coupon school bonds offered on Dec. 28 (V. 91, p. 1723),
were sold to the Morris County Savings Bank at 100.30. A
bid of par was also received from the State of New Jersey.
D e n e m ln a tlo n $ 40 0.
M ad ison B a n k .
D a te Jan . 1 1911.
In te re st sem i-a n n u a lly at th e
Chehalis County School District No. 28, Wash.— B o n d
O f f e r i n g . — Proposals wil be received until 1 p. m. Jan. 7
1911 by G. J. Taylor, County Treasurer (P. O. Montesano),
for $60,000 bonds at not exceeding 6 % interest.
D e n o m in a tio n $ 1 ,0 0 0 . In terest s e m i-a n n u a l. M a tu rity 20 years a fter
d a te o f Issue. C ertlflcd c h e ck fo r 2 % o f b o n d s is re q u ire d .
Colem an County C om m on School D istrict N o . 5 2 , T e x .—
D e s c r i p t i o n o f B o n d s . — The
$3,296 5% 10-20-year (optional)
bonds registered by the State Comptroller on Oct. 26 (V. 91,
p. 1276) are in denomination of $164 80 and dated April 15
1910. Interest annually on April 1 .
Colum bus, O hio. — B o n d s A u t h o r i z e d . — Ordinances have
been passed providing for the issuance of the following 4%
coupon bonds:
$20 0,00 0 re fu n d in g sew er b o n d s d a te d J a n . 1 1911. In te re st is p a y a b le
at th e a g e n c y o f C o lu m b u s. M a tu rity Jan . 1 1931.
1.000 R h o a d s A v e . Im p ro v e m e n t-a sse ssm e n t b o n d s .
D ate n o t later
th a n F e b . 1 1911.
In te re st Is p a y a b le a t th e C ity T reasu rer’ s
o ffic e .
M a tu rity S e p t. 1 1922, s u b je c t to call a fte r S e p t. 1 1911.
T h e a b o v e b o n d s are in d e n o m in a tio n s o f $1,000 e a ch .
In te rest sem i
a n n u al.
Cherryvalo, Montgomery County, Kan — B o n d s V o t e d .—
An ordinance has also been passed providing for the issu
It is stated that an election held Dec. 20 resulted in a fa ance of a $2,000 4 % coupon sanitary emergency bond.
vorable vote on the question of issuing $105,000 water-im
D a te “ n o t later th an D eo. 31 1 9 1 0 .”
In te re st M arch 1 an d S e p t. 1 at
provement bonds.
th e C ity T reasu rer's o ffic e . M a tu r ity S e p t. 1 1912.
Cheviot (P. O. Cincinnati), Ohio.— B o n d O f f e r i n g .— Pro
Como Independ ent School D istrict (P . O. C om o), H opkins
posals will be received until 12 m. Jan. 3 1911 by Charles C ou n ty, T e x a s .— B o n d s R e g i s t e r e d . — On Dec. 19 $5,000 5%
Craig, Village Clerk, for $8,200 5% Trevor Avenue improve 20-40-year (optional) bonds were registered by the State
ment assessment bonds.
Comptroller.
A u th o r it y , S ection 3914 o f th e General C od e (S e c tio n 95 o f th e M unicipa l
Concord, M iddlesex C ounty, M a s s . — T e m p o r a r y L o a n . — A
C o d e ).
D en om in a tio n $820.
D ate " d a y o f s a le .”
In te re st an n u al.
M atu rity $820 y e a r ly fro m 1912 to 1921 In clu sive. C crtllled ch e ck for
temporary loan of $15,000 was awarded, on Doc. 28 to Lee,
1 0 % o f b on d s b id fo r. p a y a b le t o th e V illa ge T reasu rer, is re q u ire d . P u rHigginson & Co. of Boston at 3.35% discount. Loan ma
cnaser t o p a y a ccru ed int rest.
Chicago (111.) Sanitary District.— B i d s . — We are advised tures June 29 1911.
Corning, Teham a C ou n ty, C al. — B o n d O f f e r i n g . — Pro
that the following bids were received on Dec. 22 for the $ 1,
000,000 4% coupon bonds awarded on that day, as stated posals will be received, it is stated, by E. L. Randall, City
last week, to A. B. Leach & Co. and N. W. Halsey & Co., Clerk, for $50,000 water-plant and $20,000 sewer-system
bonds.
•
both of Chicago, at their joint bid of 99.2863.
A . II. L ea ch & C o --------------199.2863
N . W . H a lsey & C o --------------j
H arris T r . & S av in gs B a n k . ,9 8 .9 2 8 8
C on tin en ta l & C o m m ’ l T r .
& S a v . B a n k, E . II. R o I-198.815
IIns & S on s an d W m . Sal„ o m o n & C o ..............................
F olla n s b ec & C o ........ ........... 98.67
F a rw ell T ru s t C o ..................... 1
W e s t . T ru s t & S a v . B a n k . . 198.65
W in . R . C o m p to n C o ______ J
F irst I r . & S a v . B a n k ____ 98.41
E s ta b ro o k & C o ., W h it e ,)
W e ld & C o. an d C h ica go 198.409
S a v in gs B a n k & T r . C o.J
W m . A . R e a d & C o _________ 98.3 3 5 7
Illin ois T r . & S a v . B a n k ____ 98.24
L ee, Ilig g ln s o n & C o ...............98.1 3 1 5
h a rs o n . S o n & C o ____________ 97.001
W e ll. R o th & C o ___________U98.825
H ibern ian B a n k in g A s s ’ n ___698.75
P r ln t’ g T ra d e s M utual F ir e l4:96.50
In su ra n ce C o ...................... jj/9 7 .8 7 5
i n a i F ° r^ 3 « Cl0,>b on (Is- & F o r *1 5 2 ,0 0 0 b o n d s d u e In 1913, 1930 am
10™
* P or *4 ,0 0 0 b o n d s, v F or $5,0 0 0 b o n d s.
I x io a b o v e b id d ers are all o f C h icago.
Christmiisburg, Montgomery County, Va.— B o n d S a l e .—
I he $40,000 5% 15-30-year (optional) coupon water-works
Corpus Christi, N ueces C ou n ty, T e x .— B o n d s A u t h o r i z e d . —
The City Council, it is stated, has authorized the issuance of
$140,000 sewer bonds. It is further reported that only $75,
000 of the issue will be disposed of at this time.
C ovington C ounty (P . O. Collins), M is s .— B o n d O f f e r i n g . —
Further details are
1911 of the $25,000
in \ . 91, p . 1527.
until 12 m. on that
at hand relative to the offering on Jan. 2
6 % Road-District No. 3 bonds mentioned
Proposals for these bonds will be received
day by the Board of County Supervisors.
D e n o m in a tio n $ 50 0. D a te J a n . 1 1 91 1. In te re st an n u ally a t th e
C o u n ty T reasu rer’ s o ffic e .
M a tu r ity $ 4 ,0 0 0 y e a rly o n N o v . 1 from 1920
t o 1925 Inclu sive an d $ 1 ,000 on N o v . 1 1926. C ertified ch eck fo r $500,
p a y a b le t o J . E . O d u m , P re sid e n t o f B o a rd o f S u p erv isors, Is req u ired .
B id s t o be u n c o n d itio n a l. P u rc h a se r t o p a y fo r preparation an d lith o
gra p h in g o f b o n d s. R . N o rw o o d Is C h an cery Clerk
*
1790
T H E C H R O N IC LE
Crockett County C om m on School D istrict N o . 1, T e x .—
Dec. 1 $5,000 more of the
$25,000 5% 5-40-year (optional) bonds registered on Aug. 12
by the State Comptroller (V. 91, p. 477) were purchased by
the State School Fund at par and interest. This makes a
total of $20,000 bonds of this issue sold to the State to date.
See V. 91, p. 1343.
, , -j | T d :J d J 3
D ebequ e, M esa C ou n ty, C olo.— B o n d s D e f e a t e d . — Reports
state that an election held Dec. 20 resulted in the defeat of
the question of issuing water-works-system bonds.
D em in g , L u n a C ou n ty, N . M e x . — B o n d E l e c t i o n . — An
election will be held Jan. 14 1911, according to reports, to
vote on the question of issuing $38,000 sanitary-seweragesystem bonds. ;
-J ■i i . J A J
■ T ’teJ
D illon, M arion C ou n ty, So.^Caro.— B o n d S a l e . — The $15,
000 coupon electric-light-plant-construction and equipment
bonds offered on Nov. 15 and described in V. 91, p. 1343,
were awarded about Dec. 14 to Coffin & Crawford of Chicago
for $15,025, less $750 for expenses, for 5s.
Bonds
A w arded
in
D en om in a tion s $500
a fter 20 years.fl •
P a r t .— On
t o $ 1 ,0 0 0 . M a tu r ity 40 yea rs, s u b je c t to call
• , *.J•1. ’ j • . ’-u’ .....................................................
D orranceton School D istrict (P . O. W ilk es-B arre), L u
zerne C ou n ty, P a .— B o n d s A u t h o r i z e d . — Local papers state
that at a meeting of the School Board on Dec. 21 it was
voted to issue $45,000 school-erection and equipment bonds.
D o u g la s C ou n ty (P . O . R o seb u rg ), Ore.— B o n d E l e c t i o n
P r o p o s e d .— According
to reports, there is talk of calling an
election to vote on the question of issuing $1,000,000 50-year
road-building bonds at not exceeding 5 % interest.
j
D o v er (P . O. Canal D o v e r ), T uscaraw as C ou n ty, O h io .—
B o n d S a l e . — On
Dec. 1 $10,000 4% 5-14-year (serial) electriclight and power-plant bonds were awarded to the Exchange
National Bank in Canal Dover at 100.105 and accrued inter
est. It appears bids for these bonds were not rejected, as
was first reported in the newspapers. V. 91, p. 1586.
Denomination $500. Date Dec. 1 1910. Interest April and
October.
i .4 1 J .1 ! J •:! .■*. >3
D u bo is C ounty (P . O . Jasp er), I n d . — B o n d S a l e .-— On
Dec. 24 the $8,000 4% coupon court-house bonds described
in V. 91, p. 1060, were awarded to Breed & Harrison of Cin
cinnati at 101.562 and accrued interest. The following bids
were received:
B reed & H arrison , C in o ln ____ $8,1251 F a rm ers’ & M erch an ts’ B k .,Jas.$8,083
D u b ois C o. S ta te B a n k , J a s - . 8 , 1 0 0 1R o b e r t A . K e a n ................... .......7,800
M a tu rity $200 each six m on th s fro m Ju n e 15 1911 t o D e c. 15 1930
In clu sive.
D unk irk , Chautauqua C ou n ty, N . Y . — B o n d E l e c t i o n P r o
p o s e d .— There
is talk of calling an election to vote on the
question of issuing $100,000 city-hall bonds. We are in
formed, however, that no definite action has been taken, as
no plans or specifications have yet been approved.
D urh am School D istrict, Bu tte C ou n ty, C al.— B o n d O f fe r
i n g .—
Proposals will be received until 1 p. m. Jan. 4 1911 by
the Board of County Supervisors, it is stated, for the $11,000
5% school-building bonds voted (V. 91, p. 1400) on Nov. 5.
Denomination $1,000. Interest annual. Maturity one bond
yearly.
E a st P alestin e, Columbiana C ou n ty, O h io.— B o n d O f f e r
Proposals will be received until 12 m. to-day (Dec. 31)
i n g .—
by O. L. Butts, Village Clerk, for $20,000 4 )^% coupon
water-works-improvement bonds.
D en om in a tion $50 0.
D ate D e c . 10 1910. In terest M arch an d S e p t, at
th e C h am berlin B ros. & C o. b an k In E ast P a lestin e. M a tu rity $500 yea rly
on S ep t 10 from 1912 to 1951 Inclu sive.
B o n d s are ta x -e x e m p t . C crtllled
c h e c k for 5 % , p a y a b le t o the V illage T reasu rer, Is requ ired .
Pooria Drainage and Levee District, Tazew ell
111.— B o n d s O f fe r e d b y B a n k e r s . — Cutter, May & Co.
of Chicago are offering to investors $40,000 6 % improve
ment bonds.
E a st
C ou n ty,
D e n o m in a tio n $50 8. D ate Jan . 1 1911. In terest se m i-an n u ally at the
W estern T ru st & S a v in gs B ank In C h ica g o . M a tu rity on J u ly 1 as fo llo w s:
$ 2 ,500 In each o f the years 1910, 1917. 1919, 1920, 1922, 1923, 1925, 1926,
1928 and 1929 a n d $ 3 ,000 In each o f th e years 1918, 1921, 1924, 1927 and
1930. T o ta l d e b t, this issue.
H eal v alu e (e s tim a te d ), $1,0 0 0 ,0 0 0 .
East Rutherford School District (P. O. Rutherford), Ber
gen County, N. J.— B o n d S a l e . — On Dec. 27 the State School
Fund purchased $60,000 4 ] /2 % 11-40-year (serial) school
bonds at par and accrued interest. These securities were
offered without success (V. 91, p. 352) on June 14. De
nomination $1,000. Interest semi-annual.
Ellensburg, Kittitas County, Wash.— B o n d E l e c t i o n P r o
p o s e d . — This city is still considering the advisability of calling
an election to vote on the proposition to issue the $300,000
water-system bonds. See V. 91, p. 1276.
" Elmore County (P. O. Wetumpka), Ala.— B o n d O f f e r i n g .—
Proposals will be received until Jan. 23 1911 by the Board
of County Commissioners, H. J. Lancaster, Clerk, for
$170,000 5 % gold coupon road-improvement bonds.
• A u th o r it y e lection held N o v . 8 1910. D e n o m in a tio n $ 1 ,0 0 0 .
D ate
J a n . 1 1911. In terest sem i-a n n u a lly a t th e A m e rica n E x ch a n g e N ation a l
B a n k o f N ew Y o r k C ity . M a tu rity 30 yea rs. Certified ch e ck fo r 2 % ol
b id , p a y a b le to th e C ou n ty T reasu rer, Is re q u ire d .
B idders m u st s a tisfy
th em selves as t o th e leg a lity o f th e Issue b e fo re m akin g o fle r, as n o c o n d i
tion a l bid w ill bo con sid ered .
Euclid, Cuyahoga County, Ohio.— B o n d O f f e r i n g . — Pro
(VOL. LX.XXXI
3,052 D u n h am A v e . b o n d s.
D e n o m in a tio n $50 0, e x c e p t o n e b o n d for
$52 . M atu rity $52 on O ct. 1 1912 and $500 o n O ct. 1 In each o f th e
years 1913, 1915, 1917, 1919, 1920 an d 1921.
A u th o r it y , S e c tio n 3914, G eneral C o d e .
D ate “ d a y o f s a le .”
In te rest
A p ril 1 an d O c t . 1 at th e Village T reasu rer’ s o ffic e . C ertified c h e c k for
1 0 % o f b o n d s b id fo r, p a y a b le t o th e V illa ge T reasu rer, Is re q u ire d . P u r
ch aser t o p a y a ccru e d Interest.
Essex County, Mass.— N o t e S a l e . —*F. S. Moseley & Co. of
Boston, offering 100.56, were the successful bidders on Dec.27
for $10,000 4% coupon highway notes offered on that day.
The following bids were received:
F . S . M o se le y & C o ., B o s t ._ 1 0 0 .5 6
M errill, O ld h am & C o ., D o s t - 100.149
C a pe A n n N a t. B a n k , G lo u c .1 0 0 .0 6
C ity N at. B a n k , G lo u ce s te r.1 0 0 .5 1 1
B lo d g e t & C o ., B o s t o n _______ 100.06
L o r ln g , T o lm a n & T u p p e r ,
B o s t o n ____________________ 100.1875
T h e n otes a rc d a te d D e c. 1 1910 an d m atu re Ju n e 1 1912.
D e n o m ln a tlo n $ 5 ,0 0 0 . In te re st se m i-a n n u a lly In B o s to n .
Everett, Middlesex County, Mass.— B o n d S a l e . — On
Dec. 27 the $25,000 4% 30-year coupon tax-exempt sewer
bonds described in V. 91, p. 1723, were awarded to F. S.
Moseley & Co. of Boston at 108.95 and interest— a basis of
about 3.515%. The other bidders were:
B la k e B ro s . & C o ., B o s t o n ._ 1 0 8 .34
E . H . R ollin s & S on s, B o s ._ _ 1 0 8 .3 1 6
A d a m s & C o ., B o s to n _______ 108.19
E .M .F a rn s w o rth <5c C o ., B o s . 108.08
K u h n , Fisher & C o ., B o s t o n . 108.073
M errill. O ldh am & C o ., B o s . 108.039
E s ta b ro o k <Sc C o ., B o s t o n ___108.02
J a c k s o n & Cu rtis, B o s t o n — 107.97
B lo d g e t & C o ., B o s t o n -----------107.64
G eo. A . F ern a ld & C o ., B o s .1 0 7 .5 7 1
It. L . D a y & C o ., B o s t o n ._ _ 1 0 7 .349
N . VV. H arris & C o ., B o s t o n .106.57
P e rry , C o ffin & B u rr, B o s — 105.52
Falls City, Richardson County, Neb.— B o n d S a l e . — The
$12,500 5 % 10- 20 -year (optional) coupon railroad-aid bonds
offered last February and described in V. 90, p. 390, have
been sold, we have just been informed, to local investors
at par.
Falls City, Ore.— B o n d E l e c t i o n . — We are advised that an
election will be held Jan. 2 1911 to vote on the question of
issuing $25,000 20-year bonds at not exceeding 6 % interest.
Fernbank, Hamilton County, Ohio.— B o n d O f f e r i n g .—
Proposals will be received until 12 m. Jan. 28 1911 by E.
Ellwood Wynne, Village Clerk, at the office of A. Stuart,
Mayor, Nos. 227 to 229 West Pearl St., Cincinnati, for the
$2 0 ,0 0 0 4 j/j% 2 0 -year water-pipe-laying bonds mentioned
in V. 91, {>. 1660.
A u th o r it y S e ctio n s 2835, 2836 an d 283 7, R e v is e d S ta tu te s. D e n o m in a
tio n $500.
D ate D e c. 1 1910. In te re st se m i-an n u al. M atu rity D e c. 1
1930. C ertified c h e c k for 5 % o f b o n d s bid fo r , p a y a b le t o T h o m a s J o u v e t ,
V illa ge T reasu rer, Is r e q u ire d . P u rch a se r t o p a y a c c r u e d Interest.
Fisher County Common School District No. 3, Tex.—
S a l e . — An issue of $1,500 5% 10-20-year (optional)
bonds was.disposed of Dec. 1 to the State School Fund at
par and accrued interest.
Fisher County Common School District No. 45, Tex —
B o n d S a l e . — On Dec. 1 the State School Fund purchased
$ 1 ,0 00 5 % 10- 20 -year (optional) bonds at par and accrued
interest.
Flathead County (P. O. Kalispell), Mont.— B o n d O f f e r i n g .
— Proposals will be received until Jan. 10 1911 for $52,500
5 % coupon bonds for the construction of live steel bridges.
B ond
A u th o r it y , P a rt 4, T itle 2, C h apter 2. A r tic le 3, R e v is e d S ta tu te s 1907,
and e le ctio n h eld N o v . 8 .
D e n o m in a tio n 51 b o n d s o f $1,000 each and
3 b o n d s o f $500 e a ch .
D a te M arch 1 1911.
In terest Ja n . 1 an d J u ly 1
In K alisp ell o r N ew Y o r k C ity . M a tu rity M arch 1 1931, s u b je c t t o calf
a lte r 10 y e a rs. C ertified c h e ck fo r 5 % Is re q u ire d .
Fort Worth, Tarrant County, Tex. — B o n d E l e c t i o n P r o
to reports, the Water Commissioner has
recommended that an election be held to vote on the ques
tion of issuing $ 2 ,0 0 0 ,0 0 0 water-works bonds.
Franklin County (P. O. Brookville), Ind.— B o n d O f f e r i n g .
— Proposals will be received until 12 m. Jan. 12 1911 by
Chas. A. Miller, County Auditor, for $89,000 4% coupon
court-house-repair and remodeling bonds.
p o s e d . — According
D e n o m in a tio n $500.
D ate Ja n . 2 1911.
In terest sem i-a n n u a lly at the
F ran klin C o u n ty N a tion a l B ank in B ro o k v ille .
M a tu rity $1,500 each six
m on th s fro m Ju n e 1 1911 t o D ec. 1 1920 in clu sive . 53,000 each six m o n th s
from Ju n e 1 1921 to Ju n e 1 1928 Inclusive an d $3,500 each six m on th s from
D ec t 1928 to Ju n o 1 1930 Inclusive. C ertified c h e ck o n a b an k in F ran klin
C o u n ty for 3 % o f b o n d s bid fo r , p a y a b le t o the B oa rd o f C o u n ty C om m is
sion ers. Is re q u ire d .
Gainesville, Hall County, Ga.— B o n d S a l e . — The $100,000
41 /2 <Zo 30-year bonds offered without success on July 25
(V ! 91, p. 897) have been sold to J. II. Ililsman & Co. of
Atlanta at par and accrued interest. Denomination $1,000.
Date July 1 1910. Interest semi-annually in New York.
Gainesville, Cooke County, Texas.— B o n d E l e c t i o n P o s t
p o n e d . — The election to vote on the question of issuing the
$150,000 5% 50-year bonds for the purchase of the plant of
the Gainesville Water Co. has been postponed from Dec. 14
(V. 91, p. 1467) to Jan. 10 1911.
Galion, Crawford County, Ohio.—Rond O f f e r i n g .— Propoals will be received until 12 m. to-day (Dec. 31) by C. S.
Hetrick, City Auditor, for $27,000 4 1/ 2 % street-improve
ment (city’s portion) bonds.
A u th o r ity . S e c tio n 3939, G eneral C od e.
D e n o m in a tio n $50 0. D ate
D eo 1 1910.
In terest sem i-an n u al. M a tu rity $3,000 y e a rly on D e c. 1
fro m 1915 t o 1923 In clu sive. P u rch a ser to p a y a ccru ed Interest.
Gallatin County (P. O. Bozeman), Mont.— B o n d O f f e r i n g .
__Proposals will be received until 10:30 a. in. Jan. 20 1911 by
W. E. Brandenburg, County Clerk, for $35,000 4 >£% coupon
county-jail bonds.
posals will be received until 12 m. Jan. 9 1911 by Nelson J.
Brewer, Village Clerk, for the following 4 lA % coupon watermain-construction assessment bonds:
D e n o m in a tio n $ 1 ,0 0 0 .
D ate M arch 1 1911. In te re st Ja n . 1 an d J u ly 1
a t th e C o u n ty T rea su rer’s o ffic e .
M a tu rity M arch 1 1 9 3 1 Certified
ch e ck fo r 51 ,000, p a y a b le t o th e C o u n ty , Is re q u ire d .
D c llv e iy o f bond s
M arch l 1911.
N o co n d tlonal bid will be c o n s id e r e d . I urchasers to p a y
a ccru e d Interest.
B lan k bon Is to be f irn lshcd b y p u rch a se r.
$ 2 ,9 4 7 ’ C llflvlew A v c . b o n d s.
D e n o m in a tio n $ 50 0, e x c e p t o n e
$44 7. M a tu rity $447 on O ct. 1 1913 an d $500 on O c t .
o f the years 1915, 1917, 1919, 1920 and 1921.
2,742 H U lview A v c . b on d s.
D en om in a tion $500, e x c e p t on e
$242. M atu rity $242 on O c t . 1 1912 an d $500 on O ct
o f the years 1914, 1916, 1918, 1920 an d 1921.
Goltry School District (P. O. Goltry), Alfalfa County,
Okla.— B o n d E l e c t i o n .— A n election has been called, it is
reported, to vote on the question of issuing $13,000 school
building bonds.
b o n d fo r
1 in each
b o n d for
1 In each
D e c . 31
1910. j
T H E C H R O N IC L E
1791
f,
Grand R ap id s, K en t C ou n ty, M ich .— B o n d s A u t h o r i z e d .—
On Dec. 27 the Board of Aldermen adopted resolutions pro
viding for the issuance of $25,000 sewer and $55,000 streetimprovement
coupon bonds.
D en om in a tion $1 ,0 0 0 . D a te M a y 1 1910. In te re st sem i-a n n u a l. M a
tu r ity o n c -llfth o l each Issue y e a r ly o n M a y 1 fro m 1911 t o 1915, In clu sive.
Grand R apids School D istrict (P . O. Grand R a p id s), K e n t
C ou n ty, M ic h . —B o d n O f f e r i n g . — We are informed that the
K a n sas C ity , K a n .— B o n d E l e c t i o n . — Reports
state that
an election will be held Feb. 14 19Pi to vote on the questions
of issuing $350,000 municipal-lighting plant, $50,000 in
cinerating plant, $50,000 dike, $50,000 central fire station
and $ 1 0 0 ,0 0 0 auditorium bonds.
.
K an sas City School D istrict (P . O. K a n sas C ity ), Jackson
C ounty, M o — B o n d s N o t Y e t R e - o f f e r e d f o r S a l e . — We are
amount of 4% coupon high-school-building bonds which informed under date of Dec. 27 that the $550,000 bonds
this district is offering to local investors at 101 andaccrued (the unsold portion of the issue of $750,000 4 % 2 0 -year
interest from Sept. 1 1910 (V. 91, p. 1724) is $50,000. Sub gold coupon with privilege of registration as to principal)
school-building bonds mentioned in V. 91, p. 978, have not
scriptions will be received, accompanied by a deposit of yet
been re-offered for sale.
5% of bid, on Jan. 3, 4 and 5, 1911.
D en om in a tion s $100, $500 an d $1 ,0 0 0 . In terest se m i-a n n u a lly In M arch
a n d S e p te m b e r . M a tu rity $25 ,000 in ea ch o f th e years 1915 an d 1910.
T h e b o n d s are ta x -e x e m p t .
G randview H eig h ts, O h io . —B o n d s V o t e d . — The propo
sitions providing for the issuance of $2 ,0 0 0 sewer-improve
ment and $14,000 water-main-construction bonds submitted
to the voters on Dec. 27 (V. 91, p. 1527) was favorably voted.
The vote polled was, according to reports, 94 to 8 .
Grove C ity, Mercer C ou n ty, P a . — B o n d S a l e . — The $45,000
unding and sewer 4 y 2 % tax-exempt bonds voted on Nov. 8
(V. 91, p. 1343) were sold on Dec. 20 to J. S. & W. S. Kuhn,
In c ., of Pittsburgh.
D en om in a tion $1 ,0 0 0 .
D a te J a n . 1 1911. In te re st sem i-a n n u a l.
tu r ity p a r t y ea rly o n J a n . 1 fro m 1921 t o 1940 In clu sive.
M a
H an ford, K in gs C ou n ty, C al.— B o n d E l e c t i o n P r o p o s e d .—
This city is considering the advisability of calling an election
to vote on propositions to issue $55,000 sewer, $20,000 firemain and $4,000 storm-water-drain bonds.
H an sford County Com m on School D istrict N o . 6 , T e x a s .—
B o n d s R e g i s t e r e d , —The
State Comptroller on Dec. 20 regis
tered $2,000 5% 5-20-year (optional) bonds.
Harris C ounty (P . O. H o u sto n ), T ex.— B o n d E l e c t i o n .—
Local papers state that a proposition to issue $1,250,000
bonds to deepen the Houston ship channel will be submitted
to a vote of the people on Jan. 10 1911.
K a w T ow nship (P . O. S t. M a r y ’s , R . F . D . N o . 2 ) , P o tta
w atom ie C ounty, K a n — B o n d S a l e — An issue of $6,000 5%
bridge bonds was disposed of on Dec. 15 to A. A. Godard of
Topeka at par and accrued interest.
D e n o m in a tio n $50 0.
D a te O c t. 13 191 0. In te re st sem i-an n u al,
tu r lty p a rt o n O c t . 13 In e a ch o f th e y e a r s 1915, 1916 a n d 1917.
K ea rn y, H udson C ounty, N . J .— B o n d S a l e .— On Dec. 14
tne $25,000 4 y % 20-year playground bonds dated Dec. 1
1910 and described in V. 91, p . 1468, were sold to John D.
Eventt & Co. of New York City at 100.382.
K in g County School D istrict N o . 7 , K in g C ou n ty, W a s h .—
O f f e r i n g . — Proposals will be received until 11 a. m.
Jan. 16 1911 by Matt H. Gormley, County Treasurer (P. O.
Seattle), for $65,000 coupon site-purchase and building
bonds at not exceeding 6 % interest.
Bond
D e n o m in a tio n $ 1 ,0 0 0 . In te re st se m i-a n n u a lly a t th e C o u n ty T reasu rer’ s
o ffic e o r at th e fiscal a g e n c y In N ew Y o r k C ity . M a tu r ity 20 years, s u b je c t
t o call a fte , 1 y e a r. C ertified c h e c k o r d r a ft fo r 1 % o f b o n d s b id fo r , p a y
a b le t o th e C o u n ty T reasu rer, Is re q u ir e d .
B o n d s w ill b e d e liv e re d F e b . 1
1911.
K iow a County (P . O. H o b a rt), O k la .— B o n d s N o t S o l d .—
An issue of $17,500 6 % drainage bonds has been offered with
out success.
K irkw ood , D e K alb C ou n ty, G a . — B o n d S a l e . — We see it
stated that on Dec. 20 the $24,000 sewer and the $36,000
water 5% gold coupon bonds described in V. 91, p. 1528,
H arrison County (P . O. G u lfp ort), M is s .— B o n d O f f e r i n g . were sold to the Robinson-Humphrey Co. of Atlanta for
— Proposals will be received until 12 m. Jan. 2 1911 for $60,625— the price thus being 101.041. The sewer bonds
$50,000 6 % Road-District No. 2 bonds.
are due part yearly on Jan. 1 from 1920 to 1941 inclusive and
A u th o r it y C h apter 149, L aw s o f 1910.
D e n o m in a tio n $ 5 0 0 . D a te
the water bonds mature part yearly on Jan. 1 from 1916 to
F eb . 1 1911. In terest a n n u ally at th e C o u n ty T reasu rer’ s o ffic e . M a
1941 inclusive.
tu r ity $ 3 ,000 y e a rly o n F e b . 1 fro m 1921 t o 1935 Inclu sive a n d $5,000 on
F e b . 1 1030. B ids m ust be u n co n d itio n a l an d a c c o m p a n ie d b y a ccrtltled
Lake Charles, Calcasieu P arish, L a .— B o n d S a l e . — On Dec.
c h e c k fo r $500, p a y a b le to J o h n S ca rb o ro u g h , P residen t B o a rd o f S up er
v is o rs . R o a d D istrict N o . 2 has n o b o n d e d d e b t a t presen t. Assessed
20 the $75,000 city-hall and $25,000 fire-station 5% gold
v a lu a tio n o f d istrict, “ a p p ro x im a te ly $ 5 ,2 3 8 ,9 7 8 7 5 .”
T h e e x p e n se o f
coupon bonds described in V. 91, p. 897, were awarded to the
p rep a rin g and lith ogra p h in g th e b o n d s m ust be paid b y p u rch a se r. T h e se
Inter-State Trust & Banking Co. of New Orleans at par and
b on d s w ere oirered b u t n o t so ld o n D e c . 5 . S ee V . 91, p . 1580.
Purchaser also agrees to furnish bonds
H a stin g s, A d a m s C ou n ty, N e b .— B o n d O f f e r i n g .— Pro accrued interest.
posals will be received until 5 p. m. Jan. 23 1911 by A. T. and attorney’s opinion free of expense to city. Bids were
also received from Weil, Roth & Co. of Cincinnati, S. A.
Bratton, City Clerk, for $50,000 5% paving bonds.
Kean & Co. of Chicago and Seasongood & Mayer of Cincin
A u th o r it y S ection 55, C h apter 13, A rticle 3. 1909 S tatu tes o f N ebrask a.
nati.
D en om in a tion $1 ,0 0 0 .
D ate M arch 1 l o l l .
In terest se m i-a n n u a lly at
v?K .!ltile H r 0 w ‘ I1 N ew Y o r k C ity , w h o arc th e fiscal agen ts fo r th e S ta te o f
L ’A n se , Baraga C ounty, M ich . — B o n d E l e c t i o n . — An elec
N eb ra sk a . M a tu rity 20 years, s u b je c t to call on a n y Interest p a y in g p eriod
after .» yea rs. C ertified c h e c k fo r 10% o f b id , p a y a b le t o A . I I . C ram er,
tion will be held Jan. 9 1911, according to reports, to vote
C ity T reasu rer, Is req u ire d .
on a proposition to issue $25,000 road-construction bonds.
H eaven er, L e Flore C ou n ty, O k la .— B o n d O f f e r i n g .— Pro
L ak ew ood , C uyahoga C ou n ty, O hio. — B o n d S a l e . — On
posals will be received until 8 p. m. Jan. 4 1911 liy J. A.
Dec. 28 the $14,550 5% real-estate-purchase bonds described
Chaney, City Clerk, for $50,000 6 % water-works bonds.
in V. 91, p. 1528, were awarded to the First National Bank
^ , n
K , ? CCl o u
A ' t id e 10; also v o t e o f 68 t o 1 a t e le ctio n held
The follow
N o v . 15 1910. S ec V . 91. p. 1277.
D e n o m in a tio n $1 ,0 0 0 .
D a te J a n . 1 in Cleveland at 106.453 and accrued interest.
1911.
In terest sem i-an n u al.
M a tu rity J a n . 1 1936. T h e b o n d s h a v e been
ing bids were received:
hnn,r£ ViCl
ul tllolr 'e g 'illt y b y the A tto r n e y -G e n e ra l. T h is c it y has nc
b o n d e d d e b t a t p resen t. Assessed v a lu a tio n In 1910 $3 3 2 ,0 0 0 .
*
H em phill School D istrict (P . O. H em p h ill), Sabine C ounty,
T e x . — B o n d s V o t e d . — An election held recently, it is stated
resulted in favor of the question of issuing $ 1 5 ,0 0 0 school
building bonds.
H igh lan d Park School D istrict (P . O. H igh land P a rk ),
W a y n e C ou n ty, Mich . - - B o n d S a l e . — The $45,000 school
building and site-purchase bonds mentioned in V. 91, p.
1661, were sold on Dec. 22 to the Security Trust Co. of De
troit at 100.459 for 4% 15-year bonds. A list of the bidders
follows:
.
F o r 15 -y ea r
4 s.
S e cu rity T ru st C o ., D e t . .$ 4 5 ,2 0 6 65
N . W . Ila ls e y A C o ., C hic a 4 5 ,300 00
First N ation a l B a n k _____ 4 5 ,1 7 5 00
D e troit T ru st C o ., D etro it 4 5 ,1 3 6 00
W . E . M oss & C o ., D e tro it 4 5 ,040 00
M atth ew F in n , D e t r o i t .. 4 5 ,0 0 7 00
E . B . C adw ell & C o ., D o t. 4 5 ,0 0 6 00
I I . W . N ob le A C o ., D e t.................... ..
F o r 15-y ea r F o r 1-15-yr. F o r 1-15-yr.
■IMsserial 4s. serial 4 f i s .
$47,722 00 $ 44 ,775 00 $46,271 00
..................
_
47,362 50
48,304 00
4 4 ,700 00
4 6 ,309 65
4 7,255 00
4 4 ,915 00
4 6 ,1 7 0 00
4 6 ,012 50
47,260 00
4 4 ,9 0 0 66
46',3 66'6 6
4 6 ,075 00
---------------4 6 ,1 4 0 00
4 6 ,845 00
............... .............................
a B id re c e iv e d t o o late t o be co n sid e re d .
T h e b on d s are in d e n o m in a tio n o f $1,000 each and arc d a te d J a n . 2 1911
H inds County (P . O. J ackson ), Miss.—Rond O f f e r i n g .—
non1 be received until Jan. 2 1911 for $100,000 of
the $200,000 5% road-construction bonds mentioned in
V. 91, p. 168.
M atu rity 2«> yiM rj, C crtllicil c h e c k (o r cash) fo r 5
o f b id Is rcnnlrori
W . VV. D ow n in g Is C h au cery C lerk. T h e b o n d s a b o v e o lle r c d are fo r lin
p rov em eu ts In the M rst an d F ifth S u p e rv is o rs ’ d istricts.
H u n tin gton Park School D istrict, L o s A n g eles C ounty,
C al.— B o n d S a l e .— O n Dec. 5 the $15,000 5% gold bonds
described in V. 91, p. 1468, were awarded, it is stated, to
the State Board of Examiners for $15,500, the price thus
being 103.33. Maturity $5,000 on Dec. 5 in each of the
years 1920, 1925 and 1930.
Jefferson School D istrict, L o s A n g ele s C ou n ty,
B o n d S a l e .—
C al.__
Reports state that $10,000 5% school-building
bonds have been awarded to the American Savings Bank
of Los Angeles at 100.6&.
First N at. B a n k . C le v e la n d ._ $ 1 5 ,489 IS e a s o n g o o d A M ayer. CIn . .$ 1 5 ,3 9 0
O tis A H o u g h , C le v e la n d ------- 1 5 ,4 3 0 1W e ll, R o t h A C o .. C IncIn. . . 15,307
M a tu rity O c t . 1 1920.
L a s A n im as County (P . O. T rinid ad ), Colo.— P r i c e P a i d
f o r B o n d s .—
We are advised that E. II. Rollins & Sons of
Denver paid “ practically 99 and interest” for the $155,000
4 Hj% coupon refunding bonds recently awarded them.—
V. 91, p. 1724.
Law rence, M a s s .— B o n d S a l e . — On Dec. 29 $160,000 4%
1- 10 -year (serial) coupon ordinary-debt bonds offered on
that day were sold, according to reports, to Blake Bros. & Co.
of Boston at 101.93— a basis of about 3.61% . Denomina
tion $1,000. Date Dec. 1 1910. Interest semi-annually at
the Old Colony Trust Co. in Boston.
L aw rence, D ou glas C ounty, K a n . — B o n d O f f e r i n g . — Pro
posals will be received until 10 a. m. to-day (Dec. 31), it is
stated, by S. D. Bishop, City Clerk, for $47,337 “ Series 1”
and $8,640 “ Series 2 ” 5% bonds. Certified check for 5%
is required.
L eavenw orth, Chelan C ou n ty, W a s h .— B o n d s V o t e d .—
Reports state that the issuance of $40,000 water-system
bonds was authorized at a recent election.
L ib erty T ow nship, Barton C ou n ty, K a n .— B o n d s V o t e d .—
This township on Dec. 20 voted, it is stated, to issue bridge
bonds.
Lincoln County (P . O. L ib b y ), M o n t.— Rond O f f e r i n g .—
Proposals will be received until 10 a. m. Jan. 23 1911 by the
County Commissioners, at the office of R. T. Fleek, County
Clerk, for $100,000 funding bonds at not exceeding 5% int.
D e n o m in a tio n $ 1 ,0 0 0 . In terest J a n . 1 a n d J u ly 1 a t th e C o u n ty T rea s
urer’s o ffic e . M a tu rity 20 years, s u b je c t t o ca ll a fte r ten y e a rs. C ertified
c h e c k fo r 5 % o f b id Is r e q u ire d .
Lockland, Hamilton County, Ohio.— B o n d S a l e . — The
Rudolph Kleybolte Co., Inc., of Cincinnati was awarded,
the $10,000 4)^ % Wayne Avenue improvement (village’s
portion) bonds offered on Dec. 27 and described in V. 91,
p. 1662, at 103.13 and accrued interest. Maturity Nov. 15
1920.
( V i a . LXXXXI
T H E C H R O N IC L E
Other bids received were as follows:
W eil, R o t h & C o ., C ln___ $10 ,288 0 0 1F ie ld ,L o n g s tr e th & C o .,C ln .$10 ,257 00
10,251 00
S ta c y & B rau n, T o le d o ___ 10,284 75 B reed & H arrison , C ln —
S e a s o n g o o d & M ayer, Cln. 10,281 0 0 (F lr s t N a t. B k ., L o c k la n d . 10,243 50
L o n g Beach, L o s A n g eles C ou n ty, C al.— B o n d s N o t S o l d . —
Nojbids were received on Dec. 9 for $72,900 05 7% streetimprovement and sewer-construction bonds offered on
that day.
SRJDenomlnatlon $100, e x c e p t o n e b o n d fo r $106 0 5 .
D a te N o v . 2 1910.
M atu rity on e-ten th y e a rly o n N o v . 2 fro m 1911 t o 1920 In clu sive.
posals will be received until 3:30 p. m. Jan. 14 1911 by the
trustees at the office of David Horton, District Clerk, in the
village of Hawthorne, for $6,000 5% school-building bonds
D e n o m in a tio n $500.
D a t e F e b . l 1911. In te re st a n n u a lly a t th e T a rr y to w n N ation a l B a nk, in T a rr y to w n , In N ew Y o r k e x c h a n g e .
M a tu rity
$1,000 y e a rly o n F e b . 1 fro m 1926 to 1931 In clu sive.
B id s m ust be m a d e
o n ’ blank form s fu rn ish ed b y the d istrict an d a c c o m p a n ie d b y a d e p osit
In ca sh , certified ch e ck or ban k d ra ft fo r 10% o f b o n d s bid fo r . T h e b o n d s
will be certllled as to their genuineness b y th e U n ited .States M o rtg a ge &
T ru st C o. o f N ew Y o r k C ity . P u rch a ser to p a y a c c r u e d in terest.
N assau County (P . O. F ernand ina), F la . — C e r ti f i c a t e O f f e r
will be received until Jan. 11 1911 (post
poned from Dec. 14) by the Board of County Commissioners,
will be held Jan. 3 1911 to vote on the question of issuing W. Theo. Waas, Chairman, for $49,300 6 % coupon roadconstruction certificates, being the unsold portion of an issue
$95,000 bonds.
of $60,000.
L o w ell, M iddlesex C ou n ty, M a s s .— B o n d S a l e . — We see it
D e n o m in a tio n $ 10 0. In te re st se m i-a n n u a lly a t th e C o u n ty T reasu rer’ s
stated that the $60,000 4% 1- 10 -year (serial) coupon water o ffic e . Certificates w ill b e issu ed In e le v e n scries, p a y a b le as fo llo w s :
works bonds described in V. 91, p. 1724, were sold on Dec. 28 $3,500 p a y a b le in 5 yrs. $4,500 p a y a b le in 9 yrs. $5,600 p a y a b le in 13 y r s .
6,000 p a y a b le In 14 yrs.
4,700 p a y a b le In 10 yrs.
3,700 p a y a b le in 6 yrs.
to Adams & Co. of Boston at 102.064.
5,000 p a y a b le in 11 yrs. 2,8 0 0 p a y a b le in 15 yrs.
4,000 p a y a b le in 7 yrs.
5,300
p
a
y
a
b
le
in
12
yrs.
4,200 p a y a b le in 8 yrs.
L u b bo ck County (P . O. L u b b o c k )' T e x — B o n d S a l e . — The
N ational City School D istrict, San D iego C ou n ty, Cal.
$17,000 5 % 10-40-year (optional) jail bonds registered by
the State Comptroller on Sept. 29 (V. 91, p. 978) were dis B o n d s V o t e d .— An election held Dec. 5 resulted in favor of a
posed of during that month, we have just learned, to the proposition to issue $25,000 5% 6-30-year (serial)_ school
Lubbock County Permanent School Fund and Sinking Fund building bonds. The vote was 133 “ for” to 54 “ against.
N ew burg H e ig h ts, C uyahoga C ounty, O hio. — B o n d O f f e r
at par.
i n g , — Proposals will be received until 12 m. Jan. 14 1911 by
KJLyndhurst (P . O . R u th erford ), Bergen C ou n ty, N . J .—
A! W. Shatto, Village Clerk (P. O. Willow), for $22,662 74
B o n d s V o t e d . — A proposition to issue $25,000 4 V i % waterplant-extension bonds was favorably voted on at an election 5 % coupon Cuyahoga Street sewer assessment bonds.
D e n o m in a tio n s 22 b o n d s o f $1,000 each an d o n e b o n d o f $662 7 4 . D ate
held Dec. 27. Maturity Jan. 1 1941.
J a n . 15 1911. In te re st se m i-a n n u a lly at th e B r o a d w a y S a v in g s & T ru st
M a b to n , Y a k im a C ou n ty, W a s h .— B o n d O f f e r i n g . — Pro C o. in C le v e la n d . M a tu rity y e a rly on J a n . 15 as fo llo w s: $1,662 74 In
1912, $2,000 each ye a r fro m 1913 t o 1918 In clu sive an d $3,000 in each o f
posals will be received until 8 p. m. Jan. 24 by Scott O. Holt, the
years 1919, 1920 an d 1921.
B ids t o be m ade on blank fo rm s furnished
Town Clerk, for $11,000 5% municipal-improvement bonds. b y the V illage Clerk a n d be a c c o m p a n ie d b y a certified c h e ck o n a b a n k in
Lorain School D istrict (P . O. L o ra in ), Lorain C ounty,
O hio.— B o n d E l e c t i o n . — According to reports, an election
A u th o r it y C hapter 37, R e m in g to n & B a llin ger’ s C odes an d S ta tu te s.
D en om in a tion $ 1 ,000.
D ate “ d a y o f Issue.”
In terest s e m i-a n n u a l.
M a tu rity 20 years. C ertified ch e ck o n a n ation a l b a n k fo r o % o f b id , p a y
able t o th e T o w n T reasu rer, Is re q u ir e d .
B ids m u st be u n c o n d itio n a l.
M c K in n e y ,
Collin
C ou n ty,
T ex.— B o n d s
R e g i s t e r e d .—
School-house bonds amounting to $25,000, bearing 5% in
terest, were registered by the State Comptroller on Dec. lo .
Maturity 40 years, subject to call after 10 years.
M acon , Bibb C ou n ty, G a . — B o n d E l e c t i o n . — According to
local papers, an election will be held March 18 1911 to vote
on a proposition to issue $900,000 bonds to purchase the
plant of the Macon Gas Light & Water Co. See V. 91, p.
1585.
M artin sville, H enry C ou n ty, V a .— B o n d O f f e r i n g . — Pro
posals will be received until 12 m. Jan. 20 by J. D. Sparrow,
Agent, for $35,000 6 % coupon (Series 5) electric-plant-en
largement bonds.
• ^ A u th o r ity v o t e o f 212 t o 0 at e le ctio n h eld D e o . 8 .
D ate Ja n . 5 1911
In te re s t s em i-an n u ally at th e T rea su rer’s o ffic e . M a tu rity J a n . 5 1945.
A d e p o s it o f 2 % Is req u ire d . O fficia l circu la r states th a t there has never
been a n y d efa u lt In p a y m e n t o f Interest or o th e r o b lig a tio n s n or is there
a n y c o n t r o v e r s y or litig a tio n p e n d in g or th re a te n e d a lfe ctln g th e v a lid it y
o f th is o r a n y issue of to w n b o n d s, th e c o r p o r a te e x iste n ce o f th e to w n , Its
bou n d a ries or th e title t o a n y o f Its p r o p e r t y .
t
J
M aryland (T o w n ), U n ion Free School D istrict N o . 4 (P . O.
Sch en evu s), O tsego C ou n ty, N . Y . — B o n d S a l e . — The
$25,000 4 >6 % 2-26-year (serial) school-building bonds voted
last March (V. 90, p. 1628) have been purchased by Adams &
Co. of New York City. Denomination $1,000. Date July 1
1910. Interest annual.
M assen a, S t. Law rence C ou n ty, N . Y . — B o n d O f fe r i n g —
Proposals will be received until 2 p. m. Jan. 10 1911 by
Barney S. O’Neill, Supervisor (P. O Massena), for $40,000
4 ^ % coupon Grasse River bridge-construction bonds.
D e n o m in a tio n $ 1 ,0 0 0 . D a te D e c. 1 1910. In te re st a n n u a lly o n F e b . 1
at th e S u p erv isors’ o ffic e . M atu rity $2,000 y e a rly on F e b . 1 fro m 1911 t o
1930 In clu sive. T h ese b o n d s w ere offe re d w ith o u t success as 4s o n k e p t . 2.
See V . 91, p . 667 .
**
M ichigan City School D istrict (P . O. M ichigan C ity ), L a porte C ou n ty, I n d .— B o n d O f f e r i n g . — Proposals will be re
ceived until 2 p. m. Jan. 2 1911 by Ldward M. Moran,
Secretary Board of School Trustees, for $10,000 5% highschool bonds.
D en om in a tion $500.
D a te Ja n . 12 1911. • In te re st se m i-a n n u a lly at a n y
legal d e p o s ito r y In M ich igan C ity . M a tu rity J a n . 12 1921. C ertllled ch eck
for $20 0, p a y a b le to th e B o a rd o f S c h o o l T ru stees, Is re q u ire d . • • • UssAd
i n g .— Proposals
C levela n d fo r 5 % o f b id .
,
N ew to n , Jasper C ounty, I o w a .— B o n d O f f e r i n g . — Propos
als will be received until 7:30 p. m. Jan. 16 1911 for $40,000
gas-works-construction bonds at not exceeding 6 % interest.
A u th o r ity , S e c tio n 130G-A t o 130G-F, Inclu sive, o f th e 1907 S u p p le m e n t
o f the C od e of Io w a an d S e ctio n s 720 an d 721, C od e o f 1897: also v o t e of
671 t o 322 at e le ctio n held N o v . 15 1910.
D e n o m in a tio n 81. 000.
D ate
M arch 15 1911.
In terest se m i-a n n u a lly at the First N ation a l B ank In Chi
c a g o . M atu rity 15 years, s u b je c t t o call a fte r 5 years. O fficia l circu la r
states th a t no p re vio u s issues h a v e e v e r been co n te s te d , th a t there Is n o
c o n tr o v e r s y or litig a tio n p en d in g o r th reaten ed a ffe ctin g th e c o r p o r a t e e x
isten ce or the b ou n d aries o f said m u n ic ip a lity or th e title o f its presen t
o fficia ls t o their re s p e ctiv e o ffice s or the v a lid ity o f their bonds* also th a t
th e prin cipa l an d interest o f all b o n d s p re v io u sly Issued h a ve a lw a ys been
p r o m p tly paid at m a tu r ity . C ertllled c h e c k fo r 1 0 % o f bid Is re q u ired .
N ew ton , H arvey C ounty, K a n .— B o n d S a l e . —The Com...erce Trust Co. of Kansas City, Mo., was awarded
$25,000 5% water-extension bonds on Dec. 19 at 100.83
and’ interest. Other bids received were as follows:
J o h n N u v e c n & C o .,C h Ic_ .$ 2 5 ,1 8 9 5 0 1H oeh ler * C u m m in gs T o I . $ 2 4 , 790 00
H o m o S ta te B ank, N e w to n 25,0 7 5 00 C u tter, M ay & C o ., C h ic
2 4 ,5 6 0 00
E . H . R ollin s & S on s, C h ic. 24,800 00 S e c .S a v .B k .& T r .C o ., T o l . 2 4 ,o 6 0 00
D ate J a n . 1 1911. M atu rity J a n . 1 1931, s u b je c t to call a fte r 1921.
Niles School D istrict (P . O. N ile s), T rum bull C ounty,
O hio.— B o n d s V o t e d . — Reports state that an election held
Dec. 20 resulted in favor of a proposition to issue $55,000
school-improvement bonds. The vote was 526 for to
86 “ against.”
N ordhoff U nion H igh School D istrict, V entura C ounty,
C al.— B o n d O f f e r i n g . — According to reports, J. B. McClos-
kev County Clerk (P. O. Ventura), will receive proposals
until 2 p .m . Jan. 5 1911 for $20,000 bonds of this district.
O conto, Oconto C ounty, W i s . — B o n d S a l e .— -On Dec. 27
the $25,000 5% 1-10-year (serial) harbor-improvement
bonds described in V. 91, p. 1725, were awarded to the
Oconto National Bank in Oconto at par, with option of de
livery of bonds within 12 months.
Ontario School D istrict (P . O. O ntario), M alheur C ounty,
Ore. __ B o n d E l e c t i o n . — An election will be held Jan. 7 1911,
it is stated, to vote on a proposition to issue $47,000 highscliool bonds.
O sage, M itchell C ounty, I o w a . — B o n d O f f e r i n g — A. S.
Wright, City Clerk, is offering at par and accrued interest
$10,500 5 % street-improvement bonds.
A u th o r it y S e c tio n 912 o f C o d e . D e n o m in a tio n $50 0. D ate D e c . 1 1910.
In te re st sem i-a n n u a l. M a tu rity fro m on e t o ten years.
O w ego, T iog a C ou n ty, N . Y . — B o n d s V o t e d — A n election
M iller, L ake C ou n ty, I n d . — D e s c r i p t i o n o f B o n d s . — The
$ 1 2 ,0 0 0 5 % electric-light assessment bonds awarded in held recently resulted in favor of a proposition to issue
October to the South Side Trust & Savings Bank in Gary at $20,500 fire-station bonds.
par and accrued interest and cost of printing bonds (V. 91,
Palacios Independent School D istrict (P . O. P a la cio s),
p. 1662), are in denominations of $500 each. Interest Febru T ax — N
A c t i o n Y e t T a k e n .— W o are informed that the
ary and August. Maturity $1,000 each year from 1915 to $25 000 40-year bonds voted on Sept. 17 (V. 91, p. 899)
1926 inclusive.
have not yet been approved by the Attorney-General.
o
M ingo County (P . O. W illia m so n ), W . V a .— B o n d O f fe r
i n g .—
Proposals will be received until 3 p. m. Jan.21 1911 by
James Damron, County Clerk, for $40,000 5% coupon court
house improvement bonds.
A u th o r ity , eleotlon h eld o n N o v . 8 . In te re st a n n u al. M atu rity 20
y ea rs, s u b je c t t o call a fte r 10 y e a rs. C ertllled ch e ck fo r $500 Is requ ired
M ississip p i. — A d d i t i o n a l S a l e s oj B o n d s . — We see it stated
that up to Dec. 24 $306,000 of the $600,000 4% 20 -year
bonds had been disposed of. This makes a total of $31,000
bonds sold since our last report. See V. 91, p. 1587.
M on tg om ery , A la .— B o n d s A u t h o r i z e d .— An ordinance has
been passed providing for the issuance of the $40,000 5%
gold coupon 'street-improvement bonds .
D e n om in a tion $ 1 ,0 0 0 .
D a te J a n . 1 1911. In te re st s em i-an n u ally at
th e T r u s t C o. o f A m erica In N ew Y o r k C ity . M a tu rity J a n . 1 1921
M ou n t P leasant (T ow n) School D istrict N o . 7 (P . O. H a w
th orn e), W e stch ester C ou n ty, N . Y . — B o n d O f f e r i n g . — Pro
Parmer County C om m on School D istrict N o . 2 , T e x a s .—
Dec. 20 $12,000 5% 10 - 20 -year (op
B o n d s R e g i s t e r e d . — On
tional) bonds were registered by the State Comptroller.
Pineville, Rapide3 Parish, L a .— B o n d O f f e r i n g . — Pro
posals will be received until 7 p. m. Jan. 3 1911 by J. E.
Walker, Mayor, for the $9,000 5% public-improvement
bonds voted on Nov. 15. V. 91, p. 1469.
In terest sem i-an n u al.
Is requ ired .
C ertllled ch eek fo r $100, p a y a b le t o th e to w n .
P ittsb u rgh , P a .— B o n d S a l e — On Dec. 29 the thirteen
issues of 4 W% coupon (with privilege of registration) bonds,
aggregating $4,878,000, offered on that day, were sold to
the National City bank and N. W. Harris & Co., both o
New York City, at their joint bid of 102.4591— a basis of
about 4.036%. The bonds answer to the following desenption:
D ec . 31 1910. |
T H E C H R O N IC LE
S eries. A m o u n t.
S eries. A m o u n t. P u rp o se—
1910
" A ” 1910 $570,000 P a r k ________
$90,000
90,000 H o sp ita l ____
1910
“ B ” 1910
240 ,000
180,000 In cln cra tin g -p la n t
1910
1910
90,000
390,000 C i t y - h a l l ____
1910 1 ,500,000
S tre e t-Im p ro v e ’ t “ A ” 1910
930,000 S e w e r ________
•’ A ” 1910
“ A ’ 1910
144,000
_“ B ” 1910
150,000 S e w e r ________ - _ “ B ’ 1910
204 ,0 0 0
300,000
B r i d g e _________ " O ’ 1910
D en om in a tion $ 1,000, th e t w o la st-m e n tio n e d Issues, h o w e v e r , each
c o n ta in in g 30 bon d s o f $800 e a ch .
D ate D e c. 1 1 0 1 0 .
In terest sem i-a n n u
a lly a t th e P ittsb u rg h T ru st C o. in P itts b u rg h .
M a tu rity o n e -th lr tle th o f
ea ch Issue y e a r ly o n D e c. 1 fro m 1911 t o 1940 in clu sive
P u rp o se .
Following arc the bids:
N . W . H arris & C o ., N . Y _ ' 102.4591
N a tion a l C ity B a n k , N . Y .
M ellon N a t. B a n k , P itts
:
W in . A . R e a d & C o ., N . Y . 101.433
K o u n t z c B ros., N ew Y o r k
K issel, K ln n ic u tt & C o ___ 101.3572
W m . S a lom on & C o .,N . Y .
R . L. D a y & C o ., N . Y . , f o r :
th em selves
an d
E sta b r o o k & C o ., B lo d g c t & 101.208
C o ., M errill, O ld h am &
C o _________________________
P a rson , S o n & C o ., N . Y .:
101.197
F o r en tire lo a n ________
101.387
F o r $ 9 0 ,0 0 0 ____________
101.257
F o r $ 1 8 0 , 0 0 0 . . - .............
B ro w n B ro s. & C o ., fo r
th em selves a n d —
D re xe l & C o ., P h l l a . ______ 101.187
E . H . R o llin s & S o n s .N .Y .
J .S .& W .S .K u h n .P itts b u r g J
N . W . H a lse y & C o ., N . Y .,
fo r $ 4 8 7 ,3 0 0 ______________ 100.38
P itts b u rg h T ru st C o ., P itts .,
fo r $ 3 0 0 ,0 0 0 _______________ $30 2,25 0
S e a s o n g o o d & M ayer, C ine.,
fo r $ 1 5 0 ,0 0 0 ........................... $15 1,38 0
1793
construction and $25,000 grammar-school playground pur
chase bonds.
Scott C ounty (P . O. G eo rg etow n ), K y . — B o n d S a l e .— On
Dec. 19 the $25,000 4)^ % 12-16-year (serial) gold coupon
funding road and bridge bonds dated Jan. 1 1911 and de
scribed in V. 91, p. 1402, were awarded to E. H. Rollins &
Sons of Chicago at 100.10.
Scott County (P . O. G ates C ity ), V a .— B o n d s D e f e a t e d .—
The election held Dec. 14 resulted in a defeat of the propo
sition providing for the issuance of the $300,000 highway
bonds mentioned in V. 91, p. 1530.
Shackelford County C om m on School D istrict N o . 1 5 , T e x .
— B o n d s R e g i s t e r e d . — An
issue of $1,800 5% 10-20-year (op
tional) bonds was registered by the State Comptroller on
Dec. 13.
Shackelford County C om m on School D istrict N o . 1 6 , T e x .
R e g i s t e r e d . — On Dec. 14 $2,500 5%
10-20-year
(optional) bonds were registered by the State Comptroller.
Sherm an, G rayson C ou n ty, T e x . — B o n d S a l e . — We are in
formed that the $12,000 water and the $8,000 street-im
Portland, M e . — N o t e S a l e . — Reports state that the $465, provement 4L£% registered bonds, bids for which were re
157 notes due April 1 1911 and described in V. 91, p. 1725, jected on June 6 (V. 91, p . 419), were sold on Dec. 13 to
were awarded on Dec. 29 to Blake Bros. & Co. of Boston at the Harris 1rust & Savings Bank of Chicago at par and
a premium of $13 for 3% per cents.
interest.
P ortlan d, O re. — B o n d O f f e r i n g . — Local papers state that
Skagit County (P . O. M t. V ern o n ), W a s h .— B o n d O f f e r i n g .
proposals will be received until Jan. 24 1911 by the Ways —Proposals will be received until 1 p. m. Feb. 7 by J. M.
and Means Committee of the City Council for $500,000 25- Shields, County Auditor, for $125,000 bridge and road
year Broadway bridge-construction and $500,000 30-year funding and $100,000 road-improvement coupon bonds at
water-extension 4% gold bonds. The Broadway bridge not exceeding 6% interest.
B o th Issues w ere a u th o rize d N o v . 8 1910, th e $ 1 2 5,00 0 Issue b y a v o t e o f
bonds were awarded on Nov. 7 to a syndicate composed of
t o 823 and th e $10 0,00 0 Issue b y a v o t e o f 1,482 t o 952 .
D e n o m i
E. H. Rollins & Sons, N. W. Halsey & Co. and A. B. Leach n1,724
a tio n “ n o t less th an $ 1 ,0 0 0 .”
D ate A p ril 1 1911.
In te re st a n n u a lly at
& Co., all of Chicago, but, as reported in V. 91, p. 1725, were th e C o u n ty T rea su rer’s o ffic e . M a tu rity 20 years, s u b je c t t o call a fter 10
yea rs.
B on d s arc ta x -e x e m p t . C ertified c h e ck fo r $ 1 ,0 0 0 , p a y a b le t o th e
subsequently refused by them.
C o u n ty T reasurer, Is requ ired w ith b id fo r each Issue. P u rch a ser t o fu r
— Bonds
blank b o n d s free o f c o s t.
O fficial circu la r states th a t there has n ever
P ort of Coos B a y , Coos C ou n ty, O re. — B o n d s V o t e d . — We nish
been a n y d e fa u lt In p a y m e n t o f Interest or p rin cip a l, n or Is th ere a n y c o n
are advised that at a recent election a bond issue of $300,000 tr o v e r sy o r litig a tio n pe n d in g or th reaten ed c o n c e r n in g th e Issue o f these
for harbor improvements was authorized by a vote of about b o n d s.
South San Joaquin Irrigation D istrict (P . O . M a n te ca),
eight to one. It is expected that the bonds will be issued
“ sometime during the winter or early spring.” These bonds San Joaquin C ounty, Cal.— B o n d s N o t Y e t S o l d . — The Secre
take the place of the $500,000 bonds the issuance of which was tary writes us that no sale has yet been made of the $1,073,
enjoined by the United States Court in September. See 500 bonds— the unsold portion of the issue of $1,875,000 5%
30-year irrigation bonds mentioned in V. 91, p. 980.
V. 91, p. 975.
Springfield T ow n sh ip , M on tgom ery C ou n ty, P a .— B o n d
Port of Portland (P . O. P ortlan d ), O re.— B o n d O f f e r i n g .—
Further details are at hand relative to the offering on Jan. 12 O f f e r i n g . —-Proposals will be received until 8 p. m. Jan. 4
1911 of the $60,000 6% gold bonds mentioned in V. 91, p. 1911 by F. L. Harner, Secretary of Towm Commissioners
L663, to pay part of the cost of the tug “ Oneonta.” Pro (P. O. Chestnut Hill, Philadelphia) for $20,000 4 3^% regis
posals for these bonds will be received until 4 p. m. on that tered gold bonds.
day.
D e n o m in a tio n $500.
D a te F e b . 1 1911.
In te re st se m i-an n u al
M a
D en om in a tion $ 1 ,0 0 0 .
D ate J u ly 1 1908. In te re st se m i-a n n u a lly at
the F o rt o f P o r tla n d o ffic e . M atu rity $50 ,000 J u ly 1 1912 and $10 ,000
J u ly 1 1913. C ertified ch e ck on a P ortlan d ban k fo r 5 % o f b o n d s b id fo r,
p a y a b le to the P o rt o f P o rtla n d , Is re q u ir e d .
B ids t o b e u n c o n d itio n a l.
T h e legality o f the b on d s has been a p p ro v e d b y th e S ta te S u p re m e C o u rt.
P u rch a ser t o p a y a ccru e d Interest. J o h n P . D o y le Is Clerk o f B o a rd .
tu r ity $2,000 y e a r ly o n A u g . 1 fro m 1912 t o 1921 In clu sive. C ertliled ch eck
(or draft) fo r 2 % o f b o n d s bid fo r , p a y a b le t o th e T o w n s h ip o f S prin gfield Is
requ ired .
Stafford, Stafford County, Kan.— B o n d S a l e . — On Dec.20
the $30,000 water-works-system completion and $25,000
electric-light-system purchase 5% 10-20-year (optional)
R eading (P . O. C incinnati), O hio.— B o n d O f f e r i n g .— bonds described in V. 91, p. 1664. were awarded to the Farm
Further details arc at hand relative to the offering on Jan. 9 ers’ National Bank in Stafford for $55,300, the price thus
1911 of the $2,125 5% coupon street-improvement (village’s being 100.545. The following bids were also received:
portion) bonds mentioned in V. 91, p. 1663. Proposals for C h as. I I . C offin , C h ica g o — $55,011 less $1,000 co m m is s io n .
these bonds will be received until 12 in. on that day by W. F. I I . C. Speer & S on s C o ., C h ica g o — Par iess $1,100 c o m m is s io n .
m e n « C o ., C h ica g o — P a r and a ccru ed Interest less $1,450 c o m m is s io n .
Klopmeyer, Village Clerk.
S . A . K ean & C o ., C h ica go— P a r less $1,5 4 0 co m m is s io n .
A u th o r it y , S ection s 3820 and 382 1, G eneral C o d e .
D e n o m in a tio n
$212 50.
D ate D ec. 10 1910.
Interest a n n u a lly a t th e R e a d in g B a n k o f
R ea d in g . M a tu rity $212 50 y e a r ly on D e c. 10 fro m 1911 to 1920 Inclusive.
T h e b on d s are t a x -e x e m p t .
P u rchaser to p a y accru e d Interest
R hode Island.— B o n d s to B e O f fe r e d S h o r t l y . — We are in
formed that $500,090 4% gold coupon tax-exempt Provi
dence Harbor improvement bonds will probably be offered
for sale towards the latter part of January.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate A u g . 1 1910.
P r o v id e n c e . M a tu rity A u g 1 1900.
In te re st s em i-an n u ally In
jj£S
Richardson County D rainage D istrict N o . 1, N e b .— B o n d s
O f fe r e d b y B a n k e r s . —
Woodin, McNear & Moore of Chicago
are offering to investors $190,000 of the $205,000 6% bonds
purchased by them several months ago. See V. 91, p. 1051.
For details of bonds see advertisement on a preceding page.
R o m e, G a . — B o n d s V a l id a t e d . — On Dec. 22 Judge John W.
Maddox passed an order validating the four issues of bonds,
aggregating $275,000, voted on Dec. 6 (V. 91, p. 1726).
R utherford School D istrict (P . O. R u th erford ), Bergen
C ou n ty, N . J .— B o n d S a l e s . — On Dec. 12 the $86,300 (not
$86,000 as at first reported) 4 j^ % 40-year school-building
bonds described in V. 91, p. 1529, were sold to the Ruther
ford National Bank of Rutherford. Reports state that
these securities take the place of the $86,300 bonds awarded
on Jan. 17 to the Bergen County Bank of Rutherford (V. 90,
p. 393), which bank subsequently refused them.
It. M. Grant & Co. of Now York City were the successful
bidders for the $41,000 4*/a% 40-year coupon bonds offered
on Nov. 28 and described in V. 91, p. 1469.
San Saba County (P . O. San S a b a ), T o x .— B o n d O f f e r i n g .—
Proposals are again being asked for the $75,000 5% court
house-construction bonds offered without success on Nov. 1.
V. 91, p. 1588. Interest annually on April 10. Maturity
40 years, subject to call after 10 years. J. F. Hartley is
County Judge.
Santa Monica School D istrict (P . O. Santa M on ica), L o s
A n g eles C ou n ty, C al. — B o n d E l e c t i o n . — Los Angeles papers
state that an election will be held Jan. 24 1911 to vote on the
question of issuing $200,000 high-school-site-purchase and
Su th erlln & C o ., K ansas C ity , M o .— P a r an d a c c r u e d Interest t o J a n . 1 1911,
iess $1,700 c o m m is s io n .
C u tter, M ay & C o ., C h ic a g o — P a r a n d a ccru e d Interest less $2,000 c o m
m ission.
F a rm ers’ N ational B a n k , S ta ffo rd — $45 ,2 5 0 fo r $45 ,0 0 0 b o n d s.
F irst S ta te B a n k , S ta ffo rd — P a r fo r $45 ,000 b o n d s.
A b id o f $ 55 ,225 50 fo r 6s w as also re ce iv e d fro m J o h n N u v ce n & C o.
o f C h icago.
Stark County (P. O. Dickinson), N. Dak.— B o n d O f f e r i n g •
— Proposals will be received until 10 a. m. Jan. 5 1911, by
the County Commissioners, for $60,000 warrant-funding
bonds.
D e n o m in a tio n $ 1 ,0 0 0 . In terest (ra te t o b e n a m e d In b id ) p a y a b le In
D ic k in s o n . M atu rity 1931. C ertified c h e c k fo r $ 1 ,0 0 0 , p a y a b le t o S tark
C o u n ty , Is r e q u ire d .
B o n d e d d e b t at presen t, $ 6 ,5 0 0 . F lo a tin g d e b t
$ 9 0 ,0 0 0 . A ssessed v a lu a tio n in 1910 $ 4 ,6 4 8 ,6 7 8 .
Sterling, W h itesid e C ounty, 111.— B o n d s V o t e d . — The pro
position providing for the issuance of the $4,000 5% (City’s
portion) Locust Street paving bonds, submitted to the
voters on Dec. 15 (V. 91, p. 1530), was favorably voted.
The vote was 186 “ for” to 139 “ against.”
D en om in a tion $ 50 0. In terest to c o m m e n ce
$500 y e a rly fro m 1913 t o 1920 Inclu sive.
F eb.
1 1911.
M a tu rity
Stew art C ou n ty (P . O. L u m p k in ), G a . — B o n d s D e f e a t e d .—
A proposition to issue $100,000 bonds was defeated at an elec
tion held Dec. 20.
Stockport School D istrict (P . O. Stock p ort), V a n Buren
C ounty, I o w a . — B o n d s V o t e d . — An election held recently,
according to reports, resulted in favor of a proposition to
issue $18,000 school-building bonds. The vote was 119 to 18.
Storm L a k e, Buena V ista C ounty, I o w a .— B o n d S a l e .—
On Dec. 1 $10,742 25 6% 2-10-year (optional) septic-tank
bonds were awarded to the Cook Construction Co. of Des
Moines at par. Denomination $500. Date Dec. 1 1910.
Interest semi-annual.
Sw eet G rass County (P . O. B ig T im be r), M o n t.— B o n d
O f f e r i n g . — Proposals
will be received until 12 m. Feb. 1 1911
by J. A. Bailey, Clerk Board of Commissioners, for $35,000
5% gold coupon bonds.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te J a n . 1 1911. In te re st s e m i-a n n u a lly at
th e C o u n ty T reasu rer’s o ffic e o r N ation a l C ity B a n k in N ew Y o r k C ity
M a tu rity 15 years. C ertified c h e c k fo r $ 1 ,0 0 0 , p a y a b le t o the c lerk , I
re q u ire d .
V
T H E C H R O N IC L E
1794:
Toledo, Ohio.— B o n d s A u t h o r i z e d . — Ordinances have been
passed providing for the issuance of the following 5% cou
pon street-improvement assessment bonds.
[Yol. lxxxxi.
favor of a proposition to issue $7,000 water-works-system
and pumping station bonds.
W ic h ita , Sedgw ick C ounty, K a n .— B o n d s A u t h o r i z e d .—
An ordinance has been passed providing for the issuance of
the following 6 % coupon bonds:
$627 83 S ew er N o . 1069 c o n s tr u c tio n b o n d s.
D e n o m in a tio n $160, e x c e p t
o n e b o n d o l $147 83.
D ate D ec. 9 1910. M a tu rity $147 83
M arch 9 1912 a n d $160 each six m o n th s fro m S e p t. 9 1912 to
S e p t. 9 1913 Inclu sive.
$283 25 d r a in a g e -c o n s tru ctio n b o n d .
3,021 92 S ew er N o. 1092 c o n s tr u c tio n b o n d s.
D e n o m in a tio n $760, e x c e p t
118 00 s tr e e t-im p ro v e m e n t b o n d .
o n e b o n d o f $741 92. D a te D e c. 15 1910. M a tu rity $741 92
D ate D e c . 1 1910.
In terest sem i-a n n u a l. M a tu rity D e c. 1 1011.
M arch 15 1912 an d $760 each six m o n th s fro m S e p t. 15 1912 to
Wichita Falls, T e x . — B o n d E l e c t i o n . — An election will be
S e p t. 15 1913 Inclu sive.
,
.
5,648 85 N ew Y o r k A v e . Im p ro v e m e n t b o n d s .
D e n o m in a tio n $o7 a , e x c e p t
held next month to vote on the question of issuing $25,000
o n e b o n d o f $473 85.
D ate O ct. 4 1910. M a tu rity $473 So
street-improvement bonds.
M arch 4 1912 and $575 each s ix m o n th s fro m S e p t. 4 1912 to
S e p t. 4 1916 Inclu sive.
,
.
W ilb a rg er County C om m on School D istrict N o . 15, T e x .—
I , 436 42 S ew er N o . 1096 c o n s tr u c tio n b o n d s.
D e n o m in a tio n $37u, e x c e p t
o n e b o n d o f $311 42.
D a te D e c. 4 1910. M a tu rity $311 42
B o n d s R e g i s t e r e d . — The State Comptroller registered $4,000
M arch 4 1912 and $375 each six m on th s fro m S e p t. 4 1912 to
5% 10-20-year (optional) bonds on Dec. 19.
S e p t. 4 1913 in clu sive .
,
5,050 82 P ln e w o o (l A v e . Im p ro v e m e n t b o n d s .
D e n o m in a tio n $*>10, e x c e p t
W illa m e tte * Clackam as C ou n ty, 0 r 8 .— B o n d O f f e r i n g .—
on e b o n d o f $460 82.
D ate O ct. 9 1910. M a tu rity $460 82
Proposals were asked for until 5 p. m. yesterday (Dec. 30) by
M arch 9 1912 an d $510 each s ix m o n th s fro m S e p t. 9 1912 to
S e p t. 9 1916 Inclusive.
E. Mass, Town Recorder, for 510,000 8 % gold coupon bonds.
In terest p a y a b le a t th e N o rth e rn N a tion a l B a n k In 'l o l e d o .
D e n o m in a tio n $10 0.
D ate D e c. 31 1910. In te re st s e m i-a n n u a lly at the
Trenton, N. J.— B o n d S a l e . — On Oec. 28 the $66,420 T o w n T reasu rer’s o ffic e . M atu rity 20 yea rs, s u b je c t t o ca ll a fte r 5 y ea rs,
ith a fu rth er o p t io n t o p a y b e fo re 5 years, p r o v id in g a fo rfe it o f $:> is paid
street and the $10,600 park 434% 10-year bonds and the w
each b o n d . T h e result o f this o fferin g w as n o t k n o w n t o us a t t h e h ou r
$9,000 4 )4 % 30-year coupon or registered school bonds oo nf go
in g to press.
described in V. 91, p. 1664, were awarded to Kissel, Ivinnicutt & Co. of New York City, the two former issues at
102.4413 and the latter issue at 105.13. A list of the bidders
follows:
$ 10,600
$ 66 ,420
$9,000
B on d s.
B o n d s.
B on d s.
102.4413
105.13
K issel, K ln n lc u tt & C o ., N ew Y o r k --------------102.4413
102.42
E . H . R ollin s & S on s, N ew Y o r k -------------------- 102.42
1 0 -.4 2
102.371
N . W . H a lsey & C o ., N ew Y o r k ______________ 102.371
10 m.371
102.10
F erris & W h ite , N ew Y o r k ............... ..................... 102.19
101.827
P a rk in son & B u rr, N ew Y o r k ------------------------J 0 1 .827
101.8^7
101.459
J . S . F a rle e _________________ - ................................. 101.459
104.012
101.455
R . M . G rant & C o ., N ew Y o r k ............................ 101.455
104.004
100.83
102.11
J o h n D . E v e r itt & C o ., N ew Y o r k ----------------100.83
101
C aleb S . G reen , T r e n t o n ----------------------------------- -------- 10 3 .3o
F o r th e en tire three Issues o f b o n d s, a ggre ga tin g $86 ,0 2 0 , N . W . H arris
& C o. o f N ew Y o r k C ity offered a p rem iu m o f $2,208 36 an d K o u n tz e B ros,
o f N ew Y o r k C ity oifere d a prem iu m o f $ 1 ,8 2 5 .
Troup County
O. Lagrange), Ga.— P r i c e P a i d f o r
are informed that the price paid for the $200,060
5% road and bridge bonds voted on Nov. 8 (V. 91, p. 1402)
and sold on Dec. 16 to the Robinson-Humphrey Co. of At
lanta (V. 91, p. 1726) was 103.6625. Purchasers to pay
accrued interest and furnish blank bonds.
B o n d s . — We
D en om in a tion $50 0.
D a to J a n . 1 1911.
In terest s e m i-a n n u a l.
tu r ity $ 1 0 0,00 0 In 20 years an d $ 1 0 0,00 0 In 30 years.
M a
Union County (P. O. Union), So. Caro.— B o n d O f f e r i n g . —
Proposals will be received until 12 m. Jan. 19 1911 by Emslie
Nicholson, Chairman Court-House Commission, for the
$75,000 4 34% court-house bonds voted on Nov. 8. V. 91,
p. 1402.
D e n o m in a tio n $500.
D ate J a n . 1 1911. In te re st s e m i-a n n u a lly In
N ew Y o r k C ity .
M atu rity 20 years.
C ertified c h e c k fo r $ 1 ,0 0 0 , p a y a b le
t o th e C h airm an C o u rt-H o u s e C om m ission . Is requ ired .
T h e o f fi c i a l n o tic e o f th is b o n d o f f e r i n g w ill be f o u n d a m o n g
th e a d v e r t i s e m e n t s e ls ew h er e i n th is D e p a r t m e n t .
Ventnor City, N. J.— B o n d s A w a r d e d i n P a r t . — On Dec. 7
$16,000 of the $25,000 5% 30-year sewer bonds described in
V. 91, p. 1530, were awarded, $10,000 to Wm. C. Carman
and $6,000 to Clias. C. Carman at par and accrued interest.
W aco, McLennon County, Tex.— B o n d E l e c t i o n .— A reso
lution was adopted by the Board of Commissioners on Dec.
22, according to reports, providing for an election Fob. 14
1911 to vote on the proposition to issue $250,000 electriclight-plant bonds. See V. 90, p. 1511.
Washington, Guernsey County, Ohio.— B o n d O f f e r i n g . —
Proposals will be received until 12 m. Jan. 24 1911 by Glenn
M. Pine, City Auditor, for the following 434% street-im
provement assessment bonds.
$4 013 18 G regg S treet b o n d s .
D e n o m in a tio n $401 32. M a tu rity $401 32
ea ch six m on th s fro m M arch 1 1911 t o S e p t. 1 1915 Inclu sive.
1 701 00 G reen S treet b o n d s.
D e n o m in a tio n $170 10. M atu rity $170 10
each six m on th s fro m M arch 1 1911 t o S e p t. 1 1915 Inclu sive.
A u th o r it y , S ection 3915, General C o d e .
D ate D eo. 7 1910. Interest
sem i-an n u al. C crtltled c h e ck fo r 5 % o f b on d s bid fo r, p a y a b le t o th e C ity
T reasurer, Is r e q u ired . P u rch a ser t o p a y a ccru e d Interest.
Wellesley, Norfolk County, Mass.— B o n d S a l e . — On Doc.
27 the following 4% bonds were purchased by Adams & Co.
of Boston at 104.044:
$ 12 ,000 w ater b o n d s d a te d S e p t. 1 1909 an d d u e $1,0 0 0 y e a rly fro m 1916
t o 1927 in clu siv e .
D e n o m in a tio n $ 1 ,0 0 0 .
5.000 park b on d s d a te d S e p t. 1 1910 and due $500 y e a r ly fro m 1917 to
1926 in clu siv e. D e n o m in a tio n $500.
Interest semi-annual.
The following bids were received:
In terest sem i-an n u al. T h e fo llo w in g bids w ere re ce iv e d :
A d a m s & C o ., B o s t o n _______ 104.044 R . L . D a y & C o ., B o s t o n . . .1 0 3 .5 6 9
B lake B ro s . & C o ., B o s t o n .- 1 0 3 .4 0
E . M . F a rn sw orth & C o . , B o s . 103.89
N . VV. H arris & C o ., B o s t o n . 103.136
J a c k s o n & C u rtis, B o s t o n — 103.78
M errill, O ld h am & C o ., B o s . . 10 3 .719 B lo d g c t & C o ., B o s t o n ---------103.09
E . H. R o llin s & S on s, B o s . ..1 0 3 .6 7 8 E s ta b ro o k & C o ., B o s t o n — 103.03
G eo. A . F ern a ld & C o ., B o s . . 103.671 R o b e r t A . K e a n ______________ 102.02
H a y d e n , S to n e & C o ., B o s . .1 0 3 .6 5 9
Wellsvillo, Columbiana County, Ohio.— B o n d S a l e . — On
Dec. 28 the $10,000 4 34 % refunding bonds described in
V. 91, p . 1530, were awarded to Weil, Roth & Co. of Cin
cinnati at 105.13 and accrued interest. The following bids
were received:
W e ll, R o th & C o ., CIn . . . $ 1 0 , 5 1 3 001 B reed & H arrison . C !n _ _ .$ t 0 ,4 1 7
C itizen s’ S .D .& T r .C o .,T o l. 10,512 00 [S e cu ritie s S .B .* T r .C o .,T o l. 10,405
R .K le y b o lt e C o .,I n c .,C I n . 10,478 0 0 1S ea son good & M ayer, C ln . 10,381
F irst N a t. B a n k , C l c v e . . . 10.417 0 0 1H a y d e n ,M lIler& C o.,C Ievc. 10,360
M a tu r ity J a n . 1 1931.
00
50
00
00
White County (P. 0 . Monticello), Ind.— B o n d S a l e . — On
Dec. 6 $10,000 6% bridge-building bonds were awarded to
the State Bank of Monticello at 100.05. Denomination
$1,000. Date Dec. 1 1910.
Whittemore, Kossuth County, Iow a.— B o n d s V o t e d . — Ac
cording to local papers, an election held Dec. 21 resulted in
Williamson, Mingo County, W. Va.— B o n d O f f e r i n g . —
Proposals will be received until 8 p. m. Jan. 10 1911 by
A. C. Pinson, C. II. Jones and J. F. Keyser, committee, for
the $51,000 5)4% coupon water, sewerage and paving
bonds mentioned in V. 91, p. 543.
A u th o r it y C h apter 47, C o l e o f 1906.
D e n o m in a tio n $ 1 ,0 0 0 .
D ate
J a n . I 1911. In te re s t an n u ally at th e hirst N a tio n a l 1 au k o f W illia m son .
M atu rity 34 years, s u b je c t t o call a fte r 10 years In blo ck s o f five or m ore
at a n y in te re st-p a y in g p e r io d . C’crtille d ch e ck fo r 5 % o f b id , p a y a b le to
A . C. P inson, M a y o r , Is re q u ire d .
B o n d e d d e b t, not In clu d in g tills Issue.
$ 3 6 ,5 0 0 . A ssessed v a lu a tio n In 1910, $ 3 ,5 1 7 ,3 6 9 .
W ilso n County Com m on School D istrict N o . 11, T e x .—
B o n d s R e g i s t e r e d . — The
State Comptroller on Dee. 19 regis
tered $8,500 5% 2 0 -year bonds.
W in th ro p , Suffolk C o u n ty , M a ss. — B o n d S a l e . — On Dec.
28 the $2 1 ,0 0 0 4 % coupon general municipal bonds described
in V. 91, p. 1726, were awarded to Adams & Co. of Boston
at 101.65 and accrued interest. Other bids received were
as follows:
B lake B ros. & C o ., B o s t o n . . 1 0 1 .41 (M errill, O ldh am & C o ., B o s .1 0 1 .3 1 9
E s ta b ro o k & C o ., B o s t o n .. . 1 0 1 . 35 IB lo d g e t & C o ., B o s t o n -----------101.287
P e rry , C o ffin & B urr, B o s . . .1 0 1 .3 5
N . VV. H arris & C o ., B o s t o n . 100.888
R . L . D a y & C o ., B o s t o n ___101.349|
M a tu rity $3,000 D e c. 1 1911 and $2,000 y e a rly on D e c. 1 fron t 1912 to
1920 Inclu sive.
Worthington, Iow a.— .Vo B o n d E l e c t i o n .— We are in
formed that there is no truth in the reports which appeared
in some of the newspapers, stating that an election would be
held Dec. 20 to vote on the questioiqof issuing $12,000 water
bonds.
W r ig h t C ounty (P . O. B u ffalo), M inn .— B o n d O f f e r i n g .—
Proposals will be received until 1 p. m. Jan. 4 1911 by John
A. Berg, County Auditor, for $1,871 Judicial Ditch No. 1
coupon bonds at not exceeding 6 % interest.
D e n o m in a tio n $187 t o .
D a te J v » . 5 i 9 l 1.
In te r-st an n u allv on J u ly 5
in B u ffa lo .
M a tu rity $187 10 yea rly o n J u ly 5 fro m 1911 to 1920 Inclu
siv e , b ein g s u b je c t t o call, h o w e v e r, at a n y tim e .
Y o u n g A m erica School D istrict (P . O. Y o u n g A m erica),
Carver C ou n ty, M inn.— B o n d s V o t e d . — This district has voted
to issue bonds to the State of Minnesota.
by B a n k
Thos. J. Bolger Co. of Chicago is offering at a price
to net 5.30% the $30,000 water-works and the $10,000
sewer 6 % 25-year bonds mentioned in V. 91, p. 749. These
securities are contained in a list of bonds being offered by the
Bolger Co. in an advertisement on a preceding page.
Y u k o n , Canadian C ou n ty, O k la .— B o n d s O f fe r e d
e r s . — The
D e n o m in a tio n $ 1 ,0 0 0 . D a te A u g . 1 1910.
In te re st se m i-a n n u a lly In
N ew Y o r k C ity .
B on d ed d e b t, these Issues. A ssessed v a lu a tion 1910
$ 5 0 4 ,6 6 0 . R e a l v a lu a tio n (e stim a te d ) $ 1 ,0 0 0 ,0 0 0 .
Y sle ta School D istrict (P . O. Y s le ta ), E l Paso C ou n ty,
T e x .— B o n d E l e c t i o n . — According to reports, an election will
be held Jan. 21 1911 to vote on a proposition to issue $18,000
school-building bonds.
C a n a d a , it s P r o v i n c e s a n d iV I u n ic ip a lit ie s .
Arnprior, Ont.— D e b e n tu r e E l e c t i o n .— An election will be
held Jan. 2 1911, according to reports, to vote on a proposi
tion to issue $ 6 ,0 0 0 5 % 2 0 -year water-works debentures.
Barrie, Ont .— D e b e n t u r e E l e c t i o n .— According to reports,
an election will be held Jan. 2 1911 to vote on the question
of issuing $3,600 street-improvement and $13,000 lighting
4 3 4 % debentures, repayable part yearly for 20 years.
B rom ley T ow n sh ip ,
O n t. — D e b e n t u r e
E l e c t i o n . — It
is
stated that on Jan. 2 1911 an election will be held to vote on
the question of issuing $2,000 5% debentures, payable part
yearly for 20 years.
Chilliwack, B, C.— D e b e n t u r e O f f e r i n g .— Proposals will be
received until 12 m. Jan. 16 1911 by J. II- Ashwell, City
Clerk, for $10,000 road-machinery, $10,000 drainage and
$15,000 municipal-hall 5% debentures. The securities arc
payable in 20 annual installments of principal and interest,
beginning Oct. 1 1910, at the Bank of Montreal in Chilli
wack. These debentures were offered but not sold (V. 91,
p. 1282) on Oct. 1 .
.
_
In addition to the above, proposals will also be received
at the same time and place for $6,000 5% municipal hall No. 2
debentures. Date Jan. 2 1911. Interest semi-annually at
the Bank of Montreal in Chilliwack. Maturity Jan. 2 1931.
Collingw ood, O n t. — D e b e n t u r e E l e c t i o n .— An election will
be held Jan. 2 1911, it is stated, to vote on a proposition to
iesue $30,000 4 3 <j% school debentures, payable in 20 annual
installments.
E a stv ie w , O n t. — D e b e n t u r e s to B e O f fe r e d S h o r t l y .— An is
sue of $13,000 4% debentures will be offered for sale, it is
expected, some time in February.
E a 3 t W a w a n o sh T ow n sh ip , O n t. — D e b e n t u r e E l e c t i o n .—
According to reports an election will be held Jan. 2 1911 to
vote on the question of issuing $18,000 5% 20-year bridge
debentures.
F erg u s, O n t. — D e b e n t u r e E l e c t i o n . — A vote will be taken
Jan. 2 1911, it is stated, on the question of floating $20,000
436% debentures, repayable in 30 annual installments, for
the purchase of stock in the People’s Railway Co., and
$25,000 5% debentures due in 15 installments in aid of
manufacturers in the village.
G ilbert P lain s, M a n . — D e b e n t u r e s D e f e a t e d . — The propo
sition to issue the $5,000 fire-hall debentures mentioned in
V. 91, p. 1600, was defeated at the election held Dec. 20.
L on d on , O n t. — D e b e n t u r e E l e c t i o n . — On Jan. 2 1911 the
ratepayers will, it is stated, vote on the question of issuing
$75,000 4
city-hall debentures, due June 30 1941.
M idland, O n t. — D e b e n t u r e E l e c t i o n . — The ratepayers will
decide Jan. 2 1911, it is reported, on the question of issuing
$37,900 5% municipal-building debentures. Maturity part
yearly for 30 years.
M orden, M a n . — D e b e n t u r e s A u t h o r i z e d . — A by-law provid
ing for the issuance of $4,461 11 5% local-improvement de
bentures, repayable in 20 annual installments, has been
authorized, according to reports.
Niagara, Ont.— D e b e n t u r e E l e c t i o n . — On Jan. 2 1911 an
election will be held, according to reports, to vote on the
question of issuing $2,400 5% fire-hall debentures, repayable
in 8 annual installments.
North Bay, Ont.— D e b e n t u r e E l e c t i o n . — A by-law to issue
$18,000 5% 20-installment storm-sewer debentures will be
voted upon, reports state, on Jan. 2 1911.
P enticton, B . C . — D e b e n t u r e S a l e . — On Dec. 15 the $20,000
5% 30-year street-improvement and drainage debentures
mentioned in V. 91, p. 1532, were awarded to a client of
N E W
N E W
LO AN S.
OF
SOUTH
H. J. Fisher of Penticton at 99.
as follows:
AM BOY,
Richland School D istrict N o . 1944 (P . O. C ask eyv ille ),
A lb e rta . — D e b e n t u r e S a l e . — We have just been advised that
$1,000 6 % debentures were disposed of “ about July 15” to
Holden & Worth of Yegreville at par.
Richmond, Q u e. — D e b e n t u r e E l e c t i o n . — On Jan. 2 1911 an
election will be held, it is stated, to vote on a by-law provid
ing for the issuance of $5,000 local-improvement debentures
maturing in 30 annual installments.
Sarnia, Ont.— D e b e n t u r e E l e c t i o n . — Reports state that an
election will be held Jan. 2 1911 to vote on a proposition to
issue $1,500 5% debentures. Maturity part yearly for 10
years.
Spruce Creek School D istrict N o . 7 2 3 , M a n .— D e b e n t u r e s
A u t h o r i z e d . — It
is stated that the issuance of $2,000 5% de
bentures repayable in 20 yearly payments has been authorized
S y d n e y, B . C .— D e b e n t u r e S a l e . — Reports state that $50,
000 436% debentures have been awarded to the Royal Bank
of Canada.
W a te rlo o , O n t. — D e b e n t u r e E l e c t i o n . — It is stated that an
election to vote on the question of issuing $40,000 436% 30year electric-light and power debentures will be held Jan. 2
1911.
W e llin g to n , O n t. — D e b e n t u r e E l e c t i o n . — On Jan. 2 1911
the question of issuing $2,500 5% park debentures will be
voted on, according to reports. The issue, if authorized,
will be payable in 10 installments.
W e s t Garafraxa T o w n sh ip , O n t. — D e b e n t u r e E l e c t i o n . — A
vote will be taken Jan. 2 1911, it is stated, on a by-law pro
viding for the issuance of $40,000 436% debentures for the
purchase of stock in the People’s Railway Co. Maturity
part yearly for 30 years.
W o lse le y , S a sk . — D e b e n t u r e S a l e . — It is stated that$5,000
5% 2 0 -year debentures have been awarded to the Union
Bank of Canada.
IN V E S T M E N T S .
LO AN S.
NATIONAL
U n i o n C o u n t y ..S o u th C a r o lin a ,
HEAT
436% C O U R T H O U S E B O N D S
M id d le s e x
C ou n ty ,
N ew
S A N IT A R Y S E W E R BONDS
S ealed bids w ill be re ce iv e d up t o 12 o ’ c lo c k
n o o n , J A N U A R Y 19, 1911, fo r 575 ,000 C ou rt
H o u se B o n d s, d a te d Ja n u a ry 1, 1911, ru n n in g
tw e n ty years, an d bearing Interest a t 4 H % .
in terest p a y a b le sem i-a n n u a lly.
B o n d s, w h ich are o f d e n o m in a tio n o f 5500, w ill
b e p a y a b le , b o th p rin cip a l an d Interest, In N ew
Y ork.
A ll b ids m u st b e d ire cte d t o E m slle N ich o ls o n ,
C h airm an C ou rt H ou se C o m m ission , U n io n , S . C .,
and m arked “ B id ” , an d a cco m p a n ie d b y a
certified c h e ck fo r 5 1 ,0 0 0 , p a y a b le to Ills o rd e r.
T h e rig h t to r e je c t a n y and all bids Is re se rve d .
E M S L IE N IC H O L S O N .
C h airm an.
LIGHT,
POW ER COM PAN Y
GUARANTEED
Jersey
S ca led prop osa ls w ill b e receiv e d b y th e F in an ce
C om m ittee o f th e C om m on C ou ncil o f th e C ity o f
S ou th A m b o y , M id d lesex C ou n ty , N ew Jersey,
at e ig h t o ’ c lo c k l\ M. on T U E S D A Y , T H E
TE N TH D AY OF JA N U A R Y , ONE TH O U SAN D
N IN E H U N D R E D A N D E L E V E N , at th e C ity
H all In sakl C ity o f S ou th A m b o y , fo r th e p urchase
o f a n y or all o f an Issue o f b on d s as fo llo w s:
S ev e n ty -F iv e T h o u s a n d (575,000) D ollars o f
S a n ita ry Sew er B on d s d a te d J a n u a ry 1st, 1911.
T h e b on d s w ill bear Interest at th e rate o f F ive
(5 % ) Per C ent p er a n n u m . T h e y w ill be Issued
as c o u p o n b o n d s, w ith th e rig h t o f registration
as to p rin cip a l, o r p rin cip a l and Interest, and will
be n u m bered fro m O ne t o S e v e n ty -F iv e , and will
be in th e d e n o m in a tio n o f O n e T h o u s a n d (51,000)
D ollars ea ch .
B on d s n u m bered O ne and T w o
w ill run fo r th e term o f O ne (1) y ear fro m th e d a te
a foresa id , and th ereafter seriatim T w o (2) b o n d s
per yea r fo r a p eriod o f T h ir ty (30) years, and
th ereafter T h re e (3) b o n d s p er y ear fo r F iv e
(5) years.
N o b id w ill b e a cc e p te d fo r less than par and
a c c r u e d Interest. T h e F in an ce C o m m itte e , su b
je c t to th e a p p ro v a l o f th e C o m m o n C ou n cil o f
th e C ity o f S o u th A m b o y afore sa id , reserve th e
rig h t t o a llo t to a n y b id d er eith er th e w h o le o r a n y
p a rt o f the b on d s bid for b y said bid d e r, an d to
select th e b on d s to be d eliv ered to th e b id d e r In
th e e v e n t o f his b id b ein g a c c e p te d .
A ll particu lars c o n ce rn in g th e Issue a foresa id
m a y b e o b ta in e d fro m Josep h F . F u lto n , C ity
C lerk, S o u th A m b o y , N . J ., o r F red eric M . P .
P ca rse, C ity S o licito r , 738 B ro a d S t ., N ew ark ,
N ew J ersey.
JO SE PH F. FU LTO N ,
C ity C lerk.
Other bids received were
A e m ellu s J arvis & C o ., T o r_ .$ 1 9 ,G 6 6 | B r o u s e ,M itch e ll& C o ., T o r o n .5 1 9 ,2 0 4
C. H . B urgess & C o ., T o r o n t o 1 9 ,3 8 7 |G. A . S tlm son & C o ., T o r o n . 18,900
B ren t, N o x o n & C o ., T o r o n t o , re q u e ste d a tw o w eek s’ o p t io n a t p ar an d
a ccru e d Interest.
.
8 7 5 ,0 0 0
8 7 5 ,0 0 0
C IT Y
1795
T H E C H R O N IC L E
D e c . 31 1910.
BONDS
A il
is s u e s
A . H . B ic k m o r e &
C o ,,
B A N K E R S
30
P in e S t r e e t ,
N ew
Y o rk
C h a r l e s M. S m it h & Co.
C O R P O R A T IO N A N D
M U N IC IP A L B O N D S
R e y n o ld s , W a ts o n
&
C o.
F IR S T N A T IO N A L B A N K B U I L D I N G
C H IC A G O
Municipal and Corporation Bonds
W e offer a very exceptional
HOSENPYL, WALBRI66E & CG.
DRAINAGE
BOND
7
W e ll
S t .,
N ew
Y o rk
N E T T IN G
6
Railroad, Street R y ., G as & E lec. L igh t
%
400 The Rookery
SECURITIES
O HIOAGO
K S T A B L IS H B D 1**5
M U N IC IP A L
A N D
R A IL R O A D
F. W M .
L IS T O N A P P L IC A T IO N
&
F ir s t N a t
LAWYER
BONDS
S E A S 0N G 00D
H. C SPEER & SONS C O .
KRAFT
MAYER
Mercantile Library Building
C IN C IN N A T I
Specializing in Examination of
Municipal and
Bank
C orporation
& COMPANY
1812 FIRST NATIONAL BANK BLDG .
C H IC A G O , I L L .
Municipal and
Corporation B or da
181
La
S a lle
S tre e t,
C h lo a g e
B L O D G E T &
BONDS
60
C O .
COUNTY
AND
M U N IC IP A L
S T R E E T , N E W
S T A T E , C IT Y
BONDS
M U N IC IP A L
A ttest Investm ent*
k n ow n . Y ield in g from
4 %
B O N D S
to
&
W rite lor
C ircu lar.
e %
CO.
BANKERS
CHICAGO
O TTO JULIUS MERKEL
S T A T E S T ltK E T , B O S T O N
90 P I N E
C h ic a g o
B onds
ULEN
M cCO Y
B ld g .,
SCH OOL,
Y O R K
& R A IL R O A D B O N D I
BROKER
44 AND 46 WALL STREET. NEW YORK
IN V E S T M E N T
S E C U R IT IE S
C o rresp on d en ce I n v ite d
1796
T H E C H R O N IC L E
^ iu x lijc v s
a m i
LXXXXI
[V O L .
v o lte v s
ER VIN & C O M P A N Y
A .
B .
L e a c h
&
C o .,
BANKERS
BANKERS
M em hf>rJNew Y ork Stock Exchange
\ Philadelphia Stock Exchange
149 Broadw ay, N E W Y O R K
BO ND S
140 Dearborn Street, CH ICAG O
FOR
IN V E S T M E N T
D rexel B uilding, Philadelphia.
L o n g D ista n ce T e le p h o n e N o . L . D . 107.
28 State Street, BOSTON
Chestnut & 4th St., P H IL A D E L P H IA
P A R K IN S O N
&, B U R R
M em bers o f th e N ew Y o r k and
B o s to n S to c k E x ch a n g e s
C. L H U D SO N & CO.
N o s . 3 4 -3 6 W A L L S T ., N E W Y O R K .
7 W a ll Street
53 State Street
NEW YORK
BOSTON
Member* New York and Chicago Stock Exchanges
73 Pearl Street
’
TELEPHONE 3070 JOHN.
M is c e lla n e o u s
in
a ll
HARTFORD
S e c u r it ie s
E. W . C L A R K & CO.
M a rk ets
PRIVATE W I R E S T O P R I N C I P A L C I T IE S .
BANKERS,
C h e s tn u t S t.
Members Phlla. and New York Stock Exchanges.
B O R G
&
C O .
BANKERS
M tm b sr t o f N ew Y ork Stock E xchange
N o.
20
N assa u
Street
-
N ew
Yori
G eorge P . S ch m id t
F red eric G allatin J
A lb e r t R . G allatin
J . P re n tice K e llo g g
W illia m A . L a rn cd
C has. H . B lair Jr.
& C O .
BANKERS
5 NASSAU STREET, NEW YORK.
Established 1865
MEMBERS O F N . Y . S T O C K E X C H A N G E .
Allow Jnterest on deposits subject to sight check.
Buy and sell on commission stocks and bonds, and
deal In
R A IL R O A D BONDS
G U A R A N T E E D ST O C K S
BROOKS
&
CO.
LADD
N E W Y O R K C IT Y
C h as
H. Jon es
&, C o .
Municipal, Railroad and Corporation Bonds
20 Broad
Street, New York
Boston
70 State St.
H. L. Finch.
VV. S. TarbclI.
J. S . F A R L E E
&
C O .
MEMBERS NEW YORK STOCK EXCHANGE.
B rokers
and
I f Interested w rite Ifor our
Quotation
sheet “ C ”
M cC U R D Y,
HENDERSON & C O M P A N Y
Transact a General Banking and Stock
Exchange Business.
N orm an S . W a lk e r Jr.
J o h n Y . G . W a lk e r
E x . N o rto n
W A L K E R
E sta b lish e d 1859
Capital F u lly Paid
- - $ 1 ,0 0 0 ,0 0 0
Surplus and U n divided P rofits $ 6 0 0 ,0 0 0
OFFICERS.
71
Accounts of Banks, Firms, Corporations and Individual*
solicited. W e are prepared to furnish depositors
every facility consistent with good banking.
T.
W .
STEPHENS
00.
&
BAN KE R S
2 W ALL
STREET,
NEW
INVESTM ENT
YORK,
BONDS
BR O S.
BROADWAY, N. Y.
Members N. Y. Stock Exchange
INVESTMENT
D ea ler s In
BANK
OREGON
W . M. Ladd, President. R . S. Howard Jr., Asst. Cash.
24 NASSAU STREET
Augusta
Alaine
-
VVe maintain an OUTSIDE SECURITIES DE E. Cooklngham, V. Pres. J. W . Ladd, Asst. Cashier.
PARTMENT which deals particularly in the W . H. Duncklcy, Cash. Walter M. Cook, Asst. Cash.
Dividend-Paying Stocks of Railroad Supply Interest paid on Time Deposits and Savings Account*.
Companies.
M E M B ER S N . Y . STO CK E X C H A N G E
In terest a llow ed on d e p o sits
S en d fo r circulars
&, T I L T O N
PORTLAND
C a ble: " O r lc n t m e u t.”
P U R C H A S E A N D O F F E R O N L Y
B O N D S O F T H E H IG H E S T G R A D E
J. S. Farlee.
Capital, S I ,0 0 0 ,0 0 0
S to c k E x ch a n g e
BANKERS
New York City
115 Broadway
Acts as Cuban correspondent of American
banks and transacts a general banking business
111 B roadw ay
S E C U R IT IE S
K ID D E R
P. W .
J o h n E . G ardln 1
A lv in W . K re ch (N e w Y o r k C o m m ittee
Jam es H . P o s t J
SCHM IDT & G A L L A T IN
T e le p h o n e : 3155 R e c t o r
M .
CARLOS DE ZALDO. President
JOSE I. DE LA CAMARA. Vice-President
New York Correspondents (Clark, Dodge & Co.
\First National Bank.
H I G H -G R A D E
A .
H A V A N A
Interest allowed on deposits.
M em bers N . Y
IN V E S T M E N T
O F
76 C U B A S T R E E T
P H IL A D E L P H IA
321
S IM O N
B A N K
SECURITIES
Interest allowed on accounts of
Individuals and Corporations
IN V E S T M E N T S E C U R IT IE S
HARTFORD. CONN.
11 WALL ST.. N. Y.
Henry G . C a m p b ell
Edwin P . C a m p bell
S im p son, P earc e & Co.
Effingham Lawrence & Co.
Members New York Stock Exchange
Members N. Y. Stock Exchange
B A N K E R S
Jam es G . M acL ean
H . G . C a m p b e ll & C o .
11 WALL STREET. NEW YORK
Members New Y o r k S to c k E x ch a n g e .
Securities Bought & Sold on Commission
T e le p h o n e s
449 0-1 -2 -3 -4 R e c t o r
111 B R O A D W A Y
NEW YORK
III
BROADWAY, NEW YORK
D E A L E R S IN
Bonds and G u a ra n te e d S to cks
Orders Executed in all Markets.
W illia m
M EM BERS
H erbert
N.
Y.
STOCK
&
Co.
EXCHANGE
Hanover Bank Building
11 P I N E
STREET,
1852
-
&, P H E L P S
29 Wall Street. New York City.
Members of New York Stock Exchange.
BONDS
Cash orders only in stocks accepted
NEW YOR K
1910
Jas. B. Colgate & Co.
36 Wall Street, New York.
M em bers
In v estm e n t
N . Y . Stock E x .
B on d s.
V IC K E R S
E. & C. R AN D O LPH
JOHN
H. D A V IS
&
CO.
BANKERS AND BROKERS.
N o . 10 W A L L S T R E E T .
Members N. Y. and Phila. Stock Exchanges.
O rders fo r S to ck s a n d B on ds e x e cu te d u p on all
E x ch a n g e s In this c o u n tr y an d E u ro p e .
E special a tte n tio n give n to s u p p ly in g h igh -class
INVESTMENT SECURITIES.
M em bers N ew Y o r k S to c k E x ch a n g e .
I l l B r o a d w a y , N ew Y o r k .
Interest Allowed on Deposits Subject to Checks
Open Market Securities Department
W . H. Goadby & Go.
HORACE HATCH. Manager.
D ealers In I n v e s tm e n t and O th er S ecurities o f the
U n ited States an d C anada
Bankers and Brokers
N O . 74 B R O A D W A Y ,
N EW YORK
@FedFRASER