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— 8 . . pnamtal fllttlttfltw [Bntered according to Act of Congress, In the year 1900, by the William B. VOL. Dana Company, In the office SATURDAY, DECEMBER, 71. CLEARING HOUSE RETURNS. For the month of November the clearings make a very favorable exhibit. In the aggregate for the whole country the excess over 1899 reaches 10*7 per cent. For the eleven months the decrease from a year ago is 10*1 per cent. *, of the Librarian of Congress.] NO. 1900. 1850. The week's total for all cities shows a gain of 10 per cent over 1899. The increase over 1898 is 11*6 per cent and the excess over 1897 is 31-8 per cent. Outside of New York the increase compared with 1899 is 5*6 per cent, the gain over 1898 is 3'0 per cent, and the excess over 1897 reaches 10-2 p. c. W*e*. ertdtnu December 1 Eleven Months. November. 1900. 1899. Clearings P.Ct. 1900. * 5,704,039,413 4,952,978,21K f-15-2 46,687,067,795 55,413.506,034 -157 Philadelphia.. 406, 192, £58 400,432,269 T-l-4 4,241,103,016 4.379,962,001 -32 128.749,024 +12-5 1,471,735,832 1,401,790.013 +5-0 144,895,178 Pittsburg 88,w81,97d +8-4 933,990,369 1,1 0,797,84* -11-4 94,710,314 Baltimore 229,952,123 :+3-i 237,165,470 23,1(9,623 24,178,110 -4-4 Buffalo 111.264,152 +0-7 117,554.360 11,757,762 -7-1 10,925,360 Washington... l'<i,aa0.808 116,259,858 -1-12 8 10.903,833 +123 131,126,858 Albany 92,897,632 +4-7 8,680,28a +236 97,267.675 10,643,441 Rochester 5.1,342,361 —1-5 52.527,932 6,195,623 6,307,671 —21 Syracuse 50.303,965 +2-5 61 547,875 4,303, lo2 4,896,389 -121 n>on Scr 6-2 40,950,417 +6-6 3,^66,826 3,803,385 43,66u,816 Wilmington... 17,550,200 +7"8 1,895,100 1.6t7,600 +15-0 18,920,900 Blngbamton... 15.174,861 18,877,518 J+--6 1. 428.1-94 1,371.772 +4-2 Chester 54,148,848,769 83,032,414,120 —14-1 Total Middle 6,423.166,037 5,643,686.262 614,022,185 23,540,600 9,640.188 6,622,314 Providence... Hartford ... New Haven.. Springfield. 7,i-87,049 .. 6,206,970 5,217,860 4,715,232 Worcester.... Portland Fall Kiver.... Lowell New 3edford. Total N. Eng Chicago Cincinnati Detroit .. Cleveland Milwaukee Columbus Indianapolis .. Peoria Toledo Grand Rapids. Dayton EvansviUe Toungstown Springfield, ill Lexington.... Akron Kalamazoo... Rockford Canton Jacksonville.il Tot. M.West. San Francisco Salt Lake City. Portland. .. Los Angeles .... 8pokane Tacoma Helena Fargo Sioux Falls. Total Pacific Kausas City... Minneapolis... Omaha St. 687,922,179 577,122,299 66,313,700 36,694,492 47,126,708 26,526,756 22.4W9.700 16,948,404 10 517,199 9,498,147 6,096,188 5,081.080 4,846,239 1,340,384 1.953,203 1,905,558 2,128,500 1,600,398 1,248. IrtH Springfield Seattle 2,249,Hk;0 2,719,591 . Paul Denver St. Joseph Des Moines Davenport, 81ouxCity Topeka Wichita Fremont Hastings Tol. oth'rW. St. Louis New Orleans Louisville Galveston Houston Savannah Richmond Memphis Atlanta ....... Nashville Norfolk Augusta Knoxville Fort Worth... Birmingham... Macon.. Little Rock.. Chattanooga... . Jacksonville.. 1,305,620 1,171,519 078,295 615,300,980 29,t43,M00 10,064.593 6.902,53a 6,253,307 6,634,648 5,801,622 4,832,060 2.634,38 2.431,504 5,686,979,274 6,477,459,376 -13-8 295,867,700 803,67 1,800 -2-6 116,250,523 123.652.83j -60 69,395,561 80,4 6,594 -13-8 63,072,1)05 78,034,686 -19-2 60,218,679 72,239,935 -16-7 51,212,329 69,247,850 -26-0 42,7 4,7 39,517,287 -7 6 24,874,193 31.287,112 -20-5 24.979,0=5 20,904.984 16S 690,354,136 584,886.736 65,746,000 36,223,609 45,288,815 26,181,64 2 22,261,200 6,328,292,535 7,803,845,501 -134 6,199,770,609 5.997,697,694 721,167,050 677,5 7,150 389,443,907 378,400,6.8 515,125,040 472,462,519 272,407,924 259,781,082 243,867,700 236,954,900 147.091.H23 139,096,824 97,' 88,940 91,310,288 10(5,173 552 99,5 5,712 07,395,824 52,7»0,338 63.552,793 46,661,202 47,638,433 41,991,154 15,738,701 15.669,177 21,216,640 19,907,490 *0,976,297 17,807,271 21,686,260 18.5H4.180 1 -,605,587 16,639,509 14 081.804 13,238,979 14,H3,8o6 12,993.680 12,929,421 11,664,963 6.989,298 6,926,227 +3'4 +8-4 +2-9 ' 13,f.55,10t< 8.67.-.199 9,110.8 6 5,155.06? 4.70H.191 4,941.460 l,197,i5u 1,734,674 1,8*3,451 1,735,800 1,817,^16 1,270,841 1,265,047 1,057,46 624,510 840,493,059 92,293,647 12.622,749 10,498,704 10,339,715 11.876,735 4,792,113 4,941,646 2,436,671 2,238,214 798,959 837,781,339 90,195,663 12,454,419 9,699,720 152,839,172 71,916,160 60,046,096 26,035,544 23,811,134 18,798,876 16,999,010 6,457,627 3,400,973 6,728,420 3,931,349 2,200,000 622,797 741,161 153,639,071 239,652,697 226,791,399 141,471,898 43,884,795 38,035,556 16,847,300 20,305,644 17.799.29H 153.086,472 63,297,598 34,697.603 19,857,600 24 568,020 24,338,501 15,132,960 18,585,602 11,191,193 8,016,859 7,616,590 6,751,683 2,327.896 4,639.639 8.827,410 8,515,000 8.713,7*5 1,704,916 1,071,000 407,891,097 1 120,705,709 51,487,393 48,746,730 28,037,301 15,425.089 7,185,684 , Winnipeg Halifax Hamilton, St John victoria Vancouver Tot. Canada. VT 68,656.488 47,550,777 11,618,985 6.921,436 3,481,058 8,778,255 3,151,095 __4j008,278 149,166,868 -t-0'4 +6-6 -- +17"; 7 i'S +16-S '8 +11-1: +6-2 +8-6 +10 8 1,522,607,033 1,405,970,050 +8-3 693,950.992 689,105,5(8 +177 526,688,474 484,163,872 +8-7 289,475,231 271,483,956 +8-6 224,323,803 216,064,906 +3-8 193,750,032 169,510,469 +24-5 191.325.8V5 144,293,96 +32 6 63,243.840 66,860,855 +2-1 42,103,524 88,825,809 +8-5 17-7 51,479,929 46,302,866 35,661,361 27,021,391 +32-0 23,491,450 22,242,139 +5-6 6,338,185 5,854,30(1 +9-1 8,168,139 6,26 9,872 +30-3 61,421,015 62,552,435 27,031,52 24,309,639 17,127,553 13,887,6 il 6,528,073 43 8.46 4,946,703 2,4*4,056 2,067,191 438.853 577,950 V + 2,363,055,860 2,077,984,600 1.524,962,776 1,486,222,383 483,559,397 402,262,080 885,300,977 371,064,319 14 3,868, cOO 152,548,250 178,7 '6.62 141,138,757 223,151,596 121,401,237 159,393,312 152.971,91 123,853,290 97 663,860 86,9;2,088 74,189,495 66,780,7 52 61,593,919 71,739,24' 57.1-6.141 5«,564.456 42,808.705 26,29<i,087 26,985,215 45,030.633 40,926,007 89,509,812 30,239.691 31,460,000 26,032,000 17,663,c0<. 24,499,728 18,640,995 15,704,547 11,592,842 10,466.313 13.702.rt74 14,394,431 8,922,696 6,244,423 7,672,658 4,669,687 2,4 5,169 8,921,477 3.690,795 3,275,000 2,285,432 1,671,840 1,081,583 71.101,702 44,637,52' 14.435,219 6,645,761 8,680.147 2,903,066 2,688,304 4,612,926 150.604.649 +14-8 +13-4 94,784,631 +278 58,028,479 -11-3 40,844,622 +19-3 28,711,415 -2-8 15,497,688 -0-6 8,591,367 +90 Total South357,282,334 +14 2 8,708,977,003 3,333,098,443 Total all.... 9,761,908,290 7.909.434,641 +-10-7 77,068,157.248 33,7 80,9-0,511 Outside N. Y. 3,047,918.877 2,956,401.292 +3-1 80.381,039,453 30,367,479,49? Montreal Toronto --9-0 --4-9 --2-9 --5-7 --6-3 --6 6 --8-7 +0-2 +0.3 8,998,976,003 8,627,642,917 +i-3 -3-0 936,142,896 883,492,850 +60 +1-3 107,098,616 113,525,541 -57 +9-4 97,7.59,618 83,037,413 +17-8 + 13-9 110,018,045 81,461,044 +35-1 9,0 6,6 It 10,705,114 t-10-9 5,935,668 -19-1 4,819,632 +7-0 2,964,288 -17T 2.367,042 -5-4 718,915 t-11 +13'7 +2 6 +202 +2 5 —5*7 +26-7 -i-83-0 +4-2 +31-9 +17-2 +8-3 +25-5 +3<V8 2-6 +10-1 1899. York.... Philadelphia. Pittsburg Baltimore.... Buffalo Washington.. Albany Rochester.... Syracuse Scranton Wilmington.. Binghamton.. Chester Total Middle Boston Providence Hartford 1900. P. Cent. Worcester Portland Fall River Lowell New Bedford Holyoke Total New Eng.. Chicago Cincinnati Detroit Cleveland Milwaukee. Columbus Indianapolis.. Peoria Toledo Grand Rapids Dayton Evansville Youngstown Springfield, 111 Lexington Akron Kalamazoo Springfield, Ohio.. Canton 111... Quincy Tot. Mid. West'n San Francisco Salt Lake City Portland Los Angeles Seattle Spokane Tacoma Helena Fargo Sioux Falls Total Paclflo Kansas City Minneapolis Omaha 8t. Paul Denver Joseph Des Moines Davenport St. Sioux City Topeka Wichita Fremont Hastings Tot. other West. St. Louis New Orleans Louisville Galveston Houston Savannah Richmond Memphis Atlanta Nashville Norfolk... Augusta Knoxville Fort Worth Birmingham Macon --107 + 11-3 Rock Chattanooga Jacksonville Total Southern.. Total all Outside N. York. Montreal Toronto Winnipeg Halifax Hamilton St. -2-4 412200 281,021 25,871,970 18,981.468 4,427,439 2,267.542 2,494,043 2,067,4 '4 995,865 1.000.884 712,662 838,400 289.038 1,324.381.071 1,184.657,640 1898. +126 1,001,138,114 85,816,518 2o,710,9l8 23,060,774 —1*8 5,261,539 -8*1 2,270 293 +40 +97 +13-6 +156 +5-4 +7 -6 1897. 2.181,034 1,297.489 1.181,884 777,214 815,900 1,148.903 085 120,791,300 5,777,400 -215 2,468,540 —27-8 1,867,165 1,609,886 +57 924,283,230 109.022.610 5.226 900 2,487,019 1,684.090 +237 -2-8 +118 +15 +80 114,558,761 5,779,200 2,416,191 1,674 338 1,241,882 1,101.984 1,092 28; 1,135,839 477,149 131,320,789 130,229.691 +0 8 119 972,806 18,617,700 7,120,713 10,r60 091 5,409.332 4,663.800 3,101,105 2,103,586 1,702,9(3 985,691 997,321 8" 3.102 260,859 361.829 437,658 13.907.950 6,977,229 +1-8 —2-1 +2-0 +10-4 +1-0 John Victoria Vancouver Total Canada 340,485 812,211 251,214 240,365 105,22" 200,000 175,483 809 21,363.917 2,915,394 2,135,863 2,288,231 2 164 505 1,027/31 1,061,581 568,668 400.000 156.49H 34,069,786 14,159,360 17,460,168 6,762 785 4,840.(33 8,842,263 3,423,013 1.421,073 697.775 1,313.148 800.348 503,047 183,465 176 467 64 033 045 30 458 297 16,274 069 7,166 192 4,712 000 4,720.581 5 512,765 2 784,9"9 4,010.785 2,091 140 1,176.780 1,144.622 1,693.856 405 821 920.000 916,166 677,000 638.569 320,000 191.169 86.813.721 1,805,602,221 635 745.878 13 875 504 9.532837 2.803 272 1 630.000 792.286 688.433 607.136 837 642 80.0e7.160 389 469 813,544 9,109127 0.354.397 5,9c0.800 2.635,868 1,014.849 1,708.717 1,016810 935 122 954.164 245,395 330 531 442,974 323,700 833,490 254.541 267,814 234.011 136,890 Not Include 171.256.383 20 282 107 8155,315 1,910,635 1,916,902 2,045 903 1,260,575 976,721 593,062 441,81i.' 128.904 82,712,936 11,348.638 13,801.815 4,957,444 4,950.114 8.471.518 2,914,653 1,120,695 813.294 989.494 +1-4 -73 500,644 -3P1 —22 2 + 177 +88 9 -0*3 -8-0 +6 6 +6 1 -10-6 +9*4 —IT +304 +2'i +22 8 -6-0 +2-7 137,223.129 126.C07.103 18,410,700 7,417,543 8,182 544 5,543 361 4.6S0.400 2.851.131 1.803,870 1.560 872 1,024,331 933,9 8 764,891 316,713 341.832 488.984 800,300 310.132 176,952 184,264 226,688 126.841.180 115.828.889 13,740.600 7,265.706 6,941.736 5,969.986 4,879,800 2.721,728 2,201.770 1.91-8.734 926,720 715.216 330 805 2i-0 000 463 591 278 000 299 184 157,849 170.200 190,873 -23*' in tot al. +2 6 +5 8 -74 +118 +193 175,663631 +5-8 -18-5 18,367.271 9,732,649 2,301,719 1,649,889 1,500 000 1,260,058 +87 —4 I —95 +214 +4-1 80.207,576 +248 +260 +16 2 -2 2 +107 +176 +26 9 —14" 12,434 383 12,622 382 7,243.077 166.869 376 19 012,981 2,222 198 2.773.936 844.955 848,984 581.000 122 461 +70 6 +18 5 46 8 +198 +84 +18 9 -9 9 429 9 43-7 3.60M43 453-0 3.020.036 2,974,399 1,722 011 1,319 916 +214 —78 +84-8 —10 8 1.112791 +2*9 692,301 505,454 1.034,612 +144 6 -19 7 -11 1 90 J. 463 616,000 488.758 +1-6 +9'9 +45-6 —49 —16 194 289 76 647.623 .610 982,089 601,795,122 14.922 448 9,998 594 3.2-6 158 -14 7 1,500.000 +2-0 858.876 572.283 461 029 850.507 32.439 893 919,632 708,128 616,485 +39-0 473,855 78,21 148,928 336,461 1,477,278 1.670.744 1,026,658 769,518 1,343,567 —18-6 45\671 13,698.102 7,951, 158 8,630 750 4.690,449 1,470648 1646,186 -2 8 +33*7 +76*3 45 627 816 28 107,235 793,330.908 82,026,489 17.778 017 17,830,045 6,846.731 2,218,021 2,128.840 1.123,410 1,238,997 803,252 360,900 -17-7 -1*3 116,317.271 6,240 800 1,898,316 1,203,906 1,312,670 1.117,469 1,062,107 960,414 442,357 541,328 216,121 422,0' Rockford Jacksonville, 28 823.916 28 838 588 4 347.524 2 ,084,923 2 881,977 2 169,428 1 071,775 822,289 703,289 122,138101 New Haven Springfield Little -34 697,830,492 725,606,309 465,371,267 457,808,745 -195 96,087,48" 94,819,909 +4-2 70,380,414 63,856,277 -5-4 86,419,609 38,667,854 +30-1 84,693,570 29,665,63d +21-8 30,185,949 31,410,571 -13-1 42,476,171 88,243.837 -1-0 1,443.244.939 1,477,979.088 t 1,169 .856.345 1,089.188,967 90 ,087,841 86.588,864 New 80-8 --25-7 --38-7 --18-7 +6-5 Table Clearings by Telegraph on page 1149. 1900. P.Ct. 1899. New York Boston at— +12 1 6,916833 3 413.684 2,6(<2.230 1,350.000 943.387 994,976 566.818 464,377 102,904 180,000 48.844 651 34,045.783 13 534.101 7,220 978 4.505 160 4,506,083 8.591 941 8,388.939 2.949,123 1.783.632 1,241.017 1,809,738 947.776 480,80d 857,973 552.836 537,000 450,032 854.383 207 690 82,393 925 +10-0 1.618 136,797 +56 616 998. ('83 -7 16 855 238 -4 7 -7"? 10,184 897 3,264 384 1,167 838 4208 786 999 601 199 +12*4 -1-6 82,608,516 959 710 898,409 550.000 413 517 119,118 29 813 944 11.838 633 18 011.953 5.620.875 6223057 2,6 '6 935 1.502 656 1.250,003 758 403 800,381 681,552 418.454 104 233 101,372 4(810.504 33 511.899 12 609 190 7,308,231 4,7«2 300 4.037,612 3.245,974 2 738 817 2 807,101 1.676 204 1,885 099 1,205 416 1,068,031 443 670 1,187.669 068 5i0 478,836 910 000 317780 202,774 80.430 068 098 290 5,6 767 884 18,523 223 ,370 8.672,310 2,275 360 1.371,595 703.886 670.6C8 750546 —5-8 1,652,940 1,216,181 653.356 27,116,961 THE CHRONICLE. 1138 [Vol. LXXI. Secretary Gage's remarks with regard to the curpages 1171 to 1174 will be found extended exrency law of (last session) March 14 and his sugtracts from the annual report to Congress of the gestions for the future consideration of Congress are Secretary of the Treasury, Mr. Lyman J. Gage. judicious and will no doubt be heeded. In view of the many other subjects which demand attention at On THE FINANCIAL SITUATION Very little significance in public he does not, as already stated, anticipate immediate action. A forward step, he well short session says, has been "taken to the great benefit of all our this short session estimation has attended the meeting of Congress for its The daily press has given large space to this week. a description of the bouquets which were incident to the occasion, and less attention than usual to the work to be done. Looking at the event as an influence on business affairs, that treatment is perhaps a fair expression of the average judgment of indusWe do not mean that there is an absence trial classes. of deeply interesting questions awaiting discussion and settlement by the law-making powers. Further legislation is needed to perfect our currency arthe rangements, but President and Secretary Gage both indicate that although that is true there is no urgency in the demand for action, and in that view the public fully acquiesces, believing that the affair can be dealt with more satisfactorily by the next Congress, when there will be longer time for deliberation and a larger majority for sound money conditions which improve the chance of doing what is wisest and best. So, too, our taxes need to be lessened. That is a pressing subject, and the outlook is — that it will receive attention. Whether the relief granted will be as great as the occasion permits and the public desires cannot be certain, for there are not a few members who will seek rather to spend than to reduce the surplus. But whatever be the conclusion respecting this and other measures pending, the action is not likely to interfere with business plans, and hence, as said, the meeting of Congress has not absorbed public attention to anywhere near the extent it has on many previous similar occasions. The strength course, of the substantially Treasury situation was, of known from the daily and monthly material interests;" ments necessary to and "well-considered amendsolidify and complete the work inaugurated" are sure to follow. As evidence of the strengthened confidence in the purpose and power of the Government to maintain the gold standard, Mr. Gage cites the fact that gold has since the enactment been flowing towards the Treasury instead of away from it. At the date of the report the free gold in the Treasury, including the $150,000,000 reserve, was $242,000,000, while the Treasury held besides more than $230,000,000 against which certificates have been issued. As to the bank-note provisions of the Act which liberalized the issue of notes, he thinks they also were wise and timely. But he well says that the measure, prolific as it has been in good results, needs reinforcement in important particulars. He makes prominent two defects. The first of these is the lack of a mandatory requirement compelling the Secretary of the Treasury to fully protect the gold reserve. He says the law is all-sufficient when enforced by a zealous and watchful officer, but could be so executed by an unfriendly agent as to destroy confidence in the continuation of our gold standard and so finally to wreck it. The other suggestion relates to the bank-note issue. He very truly observes that under our present system no assurance exists that the volume of notes will be continuously responsive to the country's needs, expanding when such needs require and contracting when superfluous in amount. " The supply of currency is but remotely, if at all, influenced by the ever- changing requirements of trade and industry. It is related most largely, if not entirely, to the price of Government bonds in the market." Our readers do not require to have these defects of the law further explained to-day. They well know the need there is for remedial legislation on both points. so well official exhibits before Secretary Gage's reCongress was issued. But the figures he now port to gives include estimates of the revenue and disbursements for the remaining months. Thus he is able to show definitely a surplus during the current fiscal year ending June 30 1901 of 80 million dollars. The Secretary also estimates the revenue for the followA revival in the outflow of currency is a notefiscal year, under the laws as now existing, worthy incident. Last week the movement was ing Another condition is an at 30 million dollars in excess of the previous year, small, this week it is larger. that is at $716,633,042 against $687,773,254. Conse- upward tendency in money. If evidence were wanted quently, assuming the disbursements at the same to prove the necessity for making the change sugfigure as in 1901 the surplus in 1902 would be 110 gested by Secretary Gage in the national bank-note million dollars. As the proposal is to change the provision of the Gold Standard law, it might be found A recurrence of this revenue laws so as to repeal taxes which yield this in the facts just mentioned. year 30 millions of dollars, that action would leave a outward movement was not anticipated. This is the —granting there was no change in the appropriations — $80,000,000, the same as in the cur- surplus in 1902 of No however, the disbursements The Secretary has in his increased. will be materially report (page 1171) a statement of estimates for that year " submitted by the several executive departments " of the Government, which estimates aggrerent year. doubt, period of the year of least activity in industrial afand consequently the time when currency fairs, should be flowing into New York and money tendency That course and marked than usual this ought to be more fall because there has been added to the volume of bank notes afloat $77,587,038 during the seven gate $690,374,804, and consequently leave a surplus and a-half months from March 14, when the law was Moreover and during the of only $26,258,237, and that, too, without making passed, to October 30. any allowance for tax reduction or sinking fund re- same period our gold production has been at least at quirements. We do not understand the relevancy the rate of six million dollars a month, say $45,000,in this discussion of such free-handed estimates and 000, while the net exports of gold have reached only therefore have not considered them in the foregoing. about $5,000,000. Deducting the net gold export we getting easier. J- December THE CHKONICLE. 8, 1900.] two items of gold and bank notes an increase in the currency volume of 117£ million dollars Furthermore, as in the short period of 7£ months. our New York Clearing House banks reported their holdings March 17 of gold and currency at $206,207,100 and on November 3 at $216,374,200, only about 10 million dollars of this increase was at the later date held at this trade centre, and hence the balance, 107£ million dollars (less an increase of 8£ millions within the same interval in the Sub-Treasury holdings), was during the time specified added to the already large amount in circulation and on deposit in the interior. To have, under these circumstances, the inquiry for currency renewed from both the South and West is indicative not of a requirement to meet quickened industries already more than supplied, but of a disturbing currency system working find in the 1139 ings began in The change. volume on the New York Stock Ex- transactions quickly assumed extensive dimensions, and during the last two years the sales here have been on such a scale as to demonstrate conclusively that Philadelphia would have to give place to market for the stock. New York as the chief This happened notwithstand- ing that the company had no transfer office in this city, and that change of ownership could only be on the company's books at the home office. The dealings were still in the unlisted department as before, and thus the curious spectacle was presented of a stock of the highest character keeping company with the motley assortment of properties which are scheduled as "unlisted" because their managers shun the light of day and will not or cannot comply with the requirements necessary to get their securities on without natural method or regulation because in- the regular list. Such a condition of things obviously fluenced not by the laws of trade but only by the could not continue. Moreover, the work of shipping stock back and forth between Philadelphia and New price of bonds. York was proving as inconvenient and vexatious registered The listing of the stock of the Pennsylvania Rail- to the company as to the holders. road Company on the New York Stock Exchange is management, therefore, have accepted ^the The logic an event of some importance, and suggests interesting of the situation, and it is to their credit They have opened a transfer office in reflections. It illustrates how men are sometimes that they have. The company has this city and have had the stock listedgon the New driven on against their will. often been urged to take this step, but succes- York Exchange in the regular way, beginning DecemThe ber 1. By this act they have corrected an anomaly sive managements have resisted the effort. Pennsylvania Eailroad has been for years not only one by which the stock of the foremost railroad company of the strongest and best-managed railroad properties of the United States had a regular accepted marin the United States, administered in accordance with ket on the Exchanges of Europe, but no standon the Board at New York. It can be liberal and progressive ideas, but there has always ing part of those controlling truthfully declared, too, that in making the change been a desire on the character as a distinct- the management have not departed from their timeits affairs to preserve its To that end anything that honored policy of conserving the investment'finterest ive investment property. might subject dealings in the shares to speculative in- in the property, for it was the growing proportions^ The manage- the investment holdings in this market, and not the fluences has been rigidly discouraged. ment has, of course, been too enlightened to enter development of a speculative interest, that made the tain any prejudice against this center, but as from the change imperative. In the listing application some striking figures are very nature of the case speculative movements are more common here than at other Stock Exchanges, it given illustrating the strength and earning capacity seems to have been felt that in the interest of of the Pennsylvania Railroad property. For instance, the stockholders themselves it was not well to invite it is pointed out that since 1856 the company^has or incur the risk of that class of dealings in the case of their shares. So happened that the company upon to depart from the policy been it could not be prevailed paid cash dividends in every year, that the average yearly rate during the last forty-five years ghas of confining or attempting to confine transactions to the Philadelphia market. For a long time orders for the shares had to be exclusively executed in Philadelphia. But as early as May 1888 the stock made appearance in the unlisted department of the New York Stock Exchange. This was an attempt on the part of those who thought well of the stock to create a market for it here. The company was not a party Nor did the effort amount to much in this to it. early period. The calling of the company's name served to provide a bid or an asked price at times, but dealings occurred only at rare intervals, and for a long time not at all. As the stock had to be sent to Philadelphia anyway to be transferred, buyers and its sellers sent their orders there too. over disbursed 7 per for cent, dividends and that in this the amount period has been over $200,000,000. An income statement is presented showing that on the lines east of Pittsburg and Erie alone (operated directly) the gross receipts ending December 31 1899 were $657,023,971 and the net receipts $203,834,587. In these ten years no less than $18,628,941 has been'appropriated from net income for extraordinary] expenditures revision in the of grades and alignments and the making of other improvements. for the ten The years down to the 1st of large further expansion the has been [making in its revenues during figures given bring the results the current year. company What the reader has been told in the returns which we have published from 1900 monthly time to The time. In our railroad news department last week expanding we gave the figures for October and the ten months, Pennsylvania Railroad property had been enormously and its capital was getting too large and its from which it appeared that, as compared with the shares too desirable to be restricted to a local or cir- corresponding ten months of 1899, gross earnings on cumscribed market. Despite the obstacles to owner- the lines east of Pittsburg and Erie had risen $10,ship here, extensive investment purchases were made for 532,700, and on the lines west of Pittsburg New York account, and the stock was coming this $3,253,000, while net had increased $5,609,400 on way in large amounts. Finally one day in 1897 deal the Eastern lines and $499,300 on the Western lines. About three years ago the situation changed. THE CHRONICLE. 1140 In other words, the combined improvement amounts [Vol. LXXI. European to nearly 14 million dollars in gross and to over 6 mil- centres remain without change. The Bank of Bengal been at Calcutta has, however, advanced its rate from 4 lion dollars in the net. The revenues have steadily rising for a good many years, as is evident per cent to 5 per cent. The open market rates at from the following statement comparing the fig- London were quite firm this week, influenced by a ures for October and the ten months on the Eistern further issue of £2,000,000 in Treasury bills, which, the only portion of the system for which we with the £3,000,000 Exchequer bonds placed last lines week, will absorb £5,000,000 from the market. The can make such a comparison. Official of discount at the chief rates — London lines east of Pittsburg. 1899. Gross earnings Operat'g expenses 7.718.578 6,fc7d,278 6,001,778 5,996,778 5,696,878 8.283,278 4,678.878 4,43(>,17f 8,757,178 3,820,878 8.639,278 4,002,278 Net earnings.. 3,039.700 2.537,100 2,244,600 2,176,900 2,057,600 2,261,0.0 October. 1898. 1897. 9 $ 1896. 1895. 1900. $ 9 I Jan. 1 to Oct. 81. 69.970.484 69,437,784 54,040,684 52,785,284 51.657.S48 53,10P,948 Gross earnings Operat'g expenses 46,819,577 41,8«6,277 87,068,877 35,878,477 36.888,535 37,135,835 cable also reports that a supplementary vote war loan was announced in Parliament to-day. The movements of cash shown by the bank statement of last week were entirely at variance for £16,000,000 with the preliminary estimates, showing a net gain of $1,842,300 instead of a loss of $2,587,000 in this item, as The derangement estimated. in the calculation Net earnings.. 23,150,907 17,541,507 16,872,207 16.906,807 14.769,313 15,974,113 was in great part due to the system of averages. There was a gain of $3,559,100 in specie and a loss of $250,600 legal tenders by the National City Bank, It is understood that the conference of executive making a net gain of cash by this institution of $3,officers of Western, Northwestern and Southwestern 308,500. The surplus reserve of the banks shown railway companies, which has been in session this by the statement was $10,865,675. The movement week, took an important step yesterday by ap- of money to the West through Treasury transfers, pointing an advisory committee of representatives wnich was begun last week, was resumed this week, of leading financial interests in all the great proper- the transfers of currency being heavier and made both The gentle- to Chicago and to New Orleans. The outstanding companies represented. ties of the men who will form the committee will be not issues of the extended 2 per cent bonds reported by only who afford who represent in those also those whose financial a large support, way the but the public debt statement of November 30 were $1,- security- 906,400, against $25,364,500 when the call for re- by rate wars demption was made May 18. The applications for the rebates, private concessions, secret exchange of fundable bonds for the new 2 per cents growing out of contracts, and other similar methods for securing were, at the close of business on Thursday, $373,which are prohibited by the Inter- State 027,350. traffic, Commerce law as well as being in opposition to the best business judgment of the oldest, most experiMoney on call, representing bankers' balances, has enced and conservative of the railway presidents. loaned at the Stock Exchange during the week at 6 This appears to be a move in the right direction, be- per cent and at 3 per cent, averaging 4-J per cent, and cause it will place the owners of railway properties the offerings have been almost wholly confined to the behind the officers who are endeavoring to conduct banks. On Monday loans were at 6 per cent and at 3£ holders, interests are affected railway affairs lawfully and profitably. per cent, with the bulk of the business at 4 per cent. On Tuesday transactions were at 5 per cent and at 3 There has been considerable activity at rising prices per cent, with the majority at 4£ per cent. On in the securities of the Denver & Eio Grande Railroad Wednesday loans were at 5 per cent and at 4 per cent, The movement simply reflects the grow- with the bulk of the business at 4| per cent. On this week. ing prosperity of the road. One evidence of this Thursday transactions were at 6 per cent and at 4 per the action taken on Thursday in in- cent, with the majority at 4-J per cent. On Friday is found in the dividend on the preferred stock. This loans were at 5£ per cent and at 4 per cent, with the creasing stock has been receiving 4 per cent per annum the bulk of the business at 4£ per cent. Banks and trust The semi-annual payment has now companies early in the week loaned at 4 per cent as last two years. been raised from 2 per cent to 2| per cent. It is the minimum, but after Wednesday rates were quite estimated that the income account for the six months generally marked up to 4£ per cent. Time loans have to December 31 will show a surplus above charges been in good demand, and one feature has been transacin an amount equal for that period to 4 per cent on tions in 60- day collateral loans for the purpose of tiding the preferred shares. It was accordingly deemed over the period of stringency which is expected in Jansafe and prudent to enlarge the dividend. The min- uary as the result of the semi annual settlements, and ing and agricultural interests are all doing well in there also seems to be some apprehension of activity in the country served by the road, and the present fiscal money extending into February. Another noticeable year, it is thought, will yield gross earnings of feature of the market for time money is that lenders ooly $6,476,043 in apparently treat industrial collateral more liberally, dollars, against million 11 1893-4 and $6,945,114 in 1896-7, the two years of regarding as good security a larger assortment than The offerings of greatest depression experienced by the road. While they have heretofore accepted. enlarging its dividend distribution the company is money on time have been somewhat restricted, owing paying for extensive improvements out of earnings. to the fact that very many of the trust companies For instance, 15 locomotives and 14 passenger cars have had their deposits drawn down by those of have recently been added to the equipment, and the their depositors who have been making investcost, $360,000, charged to profit and loss which ments in railroad mortgage bonds, and consemeans that the value of the equipment will be quently these companies have a smaller amount — kept the same on the books, notwithstanding these of money than additions. is usually the case at this season avail- Rates are quott d at 44per cent for sixty to ninety days, and 4^@5 per cent able for employment on time. December 8, 1900.] THE CHRONICLE. months on good Stock Exchange collateral, but considerable business has been done during the week at 5 per cent for the shorter period, and at this rate also for four months, the latter on an admixture of from 30 to 40 per cent of industrials. Though there has been some buying of commercial paper by the local banks, by far the largest amount 1141 Brown Bros J I 60 days Ttras., Dee. i. Dec. 5. 82* 86* 82* 4 86* 4 82* 4 86* 82* 86* 82* 86* 82* 86* 82* 86* 82* 86* 82* 86* 82* 86* 82* 86* 82* 86* 11* 86* 62* 86* 86* 82* 66* 82* 88* 82* 86* Magoun&Co.. Bank British 4 82 4 86 4 82 4 86 82 86 82 88 82 86 82 86 82 86 82 86 82 86 83 66 82 86 82 86 82* 82* 82* 86 82 86 82 86 86 82 86 82 88 86 86 86 4 60 days 4 { Sight... 5 \ No. America,. Bank of ) 1 Montreal Canadian Bank 5 of Commerce., Ueldelbach, Ick 30. 4 Sight... < Baring, 60 days Sight... 60 days Sight... 60 days has The elheimer & Co, WlD., Dec. 3. Nov. i Sight... J 60 days \ Sight... 4 82* 4S6 60 days sold been to institutions in the interior. MON., FBI.. for four to six 4 82 Thtjbl, FBI., Dec. 6. Dec. 7. 82* 5 82 82 82 transactions have averaged 5 per cent, and very little hazard Freres.., Sight,.. 486 86 86 86 60 days 4 82 Merchants' Bk. 82 82 82 paper has been disposed of at less than this rate. 4 86 Sight... of Canada 86 86 Quotations are 4i@4f per cent for sixty to ninety day The market closed easy on Friday at 4 81^ @4 Slf endorsed bills receivable, 4|@5 per cent for prime and for long, 4 85@4 85£ for short and 4 85|@4 86 for 54 @6 per cent for good four to six months' single cables. Commercial on banks 4 81 @4 81£ and docunames. The offerings are more liberal, and indeed ments for payment 4 80|@4 82. Cotton for payment, larger than they have been in some weeks. 4 80|@4 80f , cotton for acceptance 4 81 @4 81| and grain for payment 4 Slf @4 82. i ( 1 England minimum rate of discount The following gives the. week's movements of remains unchanged at 4 per cent. The cable reports discounts of sixty and ninety day bank bills in Lon- money to and from the interior by New York banks. don 4 per cent. The open market rate at Paris is 3 Received by Shipped by Net Interior Week Ending Dec. 7, 1900. N. T. Banks. N. T. Banks. Movement. per cent, and at Berlin and Frankfort it is 4-|@4f per $4,005,000 $6,682,000 Loss. $2,677,000 According to our special cable from London Sold cent. 888,000 1,123,000 Loss. 235,000 the Bank of England lost £648,896 bullion during the $4,893,000 $7,805,000 Loss. $2,919,000 week, and held £31,203,125 at the close of the week. Eesult with Treasury operations Our correspondent further advises us that the loss Into Out of Net Change in Week Ending Dec. 7, 1900. was due to exports of £400,000 (of which £350,000 Banks. Banks. Bank Holdtngt. were to Egypt and £50,000 to Java) and to shipments Banks interior movement, as The Bank of : above of £249,000 net sent to the interior of Great Britain. $4,893,000 16,800,000 Total gold and legal tenders. The foreign exchange market, though easier in tone on Monday, was thereafter steady to firm, influenced by limited offerings of commercial bills, those against cotton decreasing in volume and drafts against grain At the same time there being quite moderate. seemed to be a good demand for bankers' drafts to remit for stocks sold for European account which had While the been delivered by the incoming steamers. firm rates for money have had some effect upon the Dec. Bank Gold. franco 92,971,172 26,887,000 Germany Aus.-Hung'y. Spain 72,982,000 88,340,000 13,908,000 4,877,000 2,813,000 000 gold, which will probably arrive at its destinaEeceipts of gold at tion before the end of the year. Custom House during the week were the New York $41,248. The Assay Office paid $1,105,495 97 for domestic bullion. exchange have been 4 82@4 82£ Kates for for sixty day and 4 86@4 86£ for sight. decline of oneactual business opened on Monday at a quarter of a cent for long and short compared with those at the'close on Friday last of week, to 4 81^@ 4 81 f for the former and 4 85|@4 85| for the latter, while cables remained unchanged at 4 86@4 86^. The tone was easy, growing steady to firm on the following day and on Wednesday, without change in rates. On Thursday the market slightly responded to the firmness in money, yielding fractionally, but before the close there was a recovery in long and in short, while cables were quoted one-quarter of a cent lower, at 4 85| @4 86. The above-noted recovery in short sterling was in great part due to the expectation that the German steamer which ^was then due would bring a large amount of stocks from Europe, which would be promptly remitted for. The tone was easy on Friday, Nominal rates for 1900. Dec. 15,447.000 Total. Gold. X 31,203,126 ^at.Belgm... S. 6, amount Silver. the unabated inquiry for remittance and by the small N. Loss. $5,712,000 7, of bullion 1899. of Netherlands.. The Alameda, which left Sydney, W., December 4, for San Francisco, has £300,- $27,405,000 following table indicates the in the principal European banks. Italy bills. Loss. $2,912,000 Loss. 2,800,000 The market, thiamin fluence appeared to be counteracted by supply of $7,805,000 19,600,000 $21,693,000 8ob-Treasury operations * 3L Silver. Total. X - X 31,203,125 30,797,194 30,797,194 44,404,259 137,375.731 75,487,337 46,707,076 122,194.413 13,841,000 40,708,000 24,396.000 12,568,000 36,964,000 6,201,000 79,183,000 87,802,000 4,75.3,000 92,555,000 9,864,000 48,204,000 82,406.000 10,088.000 42,494,000 16,350,000 30,298,000 13,600,000 14,176,000 27,776,000 1,735,000 17,182,000 15.451,000 1,494,000 16,945,000 5,545,000 10,422,000 3,756,000 5,877,000 9,632,000 1,406,000 4,219,000 2,910,000 1,455,000 4,365,000 Pokthts week 299.408,597 99,346,359 398,754.856 286,604,531 97,118,076 383,722,607 Tot. prev. w'k 298.W07.098 99.188,621 893.0H5.719 284.708.187 97,331.979 382.038.166 THE PRESIDENT'S MESSAGE. In the minds of the framers of our government, the President's annual message was regarded chiefly in the light of a brief of advice by the Executive to Congress regarding the legislation of the session about to begin. office of The the Constitution, in referring to this Chief Executive, provides that "he from time to time, give Congress information of the State of the Union," and adds that he shall " recommend to their consideration such measures as he shall judge necessary and expedient." The earlier annual messages, notably those of President Washington, were almost wholly given over to the second of shall, these purposes. As a rule, the " state of the Union " was reviewed concisely in two or three paragraphs, the remainder of the message being devoted to advice in regard to legislation. In some degree Presidential messages during recent years have conformed to this old conception of the document. It was inevitable, however, that with the steady growth of executive responsibilities the annual message should become more and more an with a fall of one- quarter of a cent for short. The official report on the actions and policies of the Execfollowing shows daily posted rates for exchange by utive rather than a simple series of recommendations some of the leading drawers. for legislative action. During the past five years, - fHE CHRONICLE. 1142 rhen problems of foreign diplomacy, involving im>ortant independent action of the Executive have injreased with great rapidity, this tendency has become nuch more decided. It was indeed noticeable for imilar reasons whenever, as on the eve of the War of .812 or of the Mexican War, foreign complications Even then these causes, especially when lad arisen. in Jackson's time) the currency also had come up for liscussion, served to call forth longer and more ex- documents, until now the annual message eaches the dimensions of a good-sized pamphlet. We >elieve that President McKinley's annual message of ast Monday is the longest ever submitted to a ConBut it should also be said that no previous gress. Presidential message has had to deal with so many mportant chapters of Executive policy requiring full ensive [Vol. LXXI. may be obtained quite as effectively from increased guaranties of foreign rights, and; complete facilities to foreign commerce in China, as from money indem- The President nity or territorial sequestration. en- dorses Russia's proposition that in the event of fail- ure to agree on these fundamental questions, the dispute shalL be referred to the Court of Arbitration at The Hague. That the part Philippines sults is less of the message dealing with the gratifying to the national pride, re- from the nature of the view of the situation case. The President's though he has not what has already been made public regarding the movement of events. Mr. McKinley specially emphasizes the need of establishing and encouraging local self-government for the Filipinos, and declares that "business interrupted by hostilities is improving as peace extends; that a larger area is under sugar cultivation than ever before; that the customs revenues are greater than at any time during the Spanish rule; that economy and much to add is optimistic, to and explanation for the benefit of Congress. For reasons already stated, the Chinese and Philipsine questions occupy the greater part of the space, [n bsth, the Executive has had to select and pursue mportant lines of policy without the opportunity of administration have the military appeal to Congress, and is now very properly called efficiency in ipon to explain exactly what it has done and why, created a surplus fund of $6,000,000, available for needed public improvements; that a stringent civil sefore Congress begins to discuss further action. As to China, the President has a plain and very service law is in preparation; that railroad communiAs a chapter in American cations are expanding, opening up rich districts and creditable story to tell. liplomacy, it contains nothing which A mericans need that a comprehensive scheme of education is being regret or for which they need ever apologize. The organized." But the President does not supplement President shows, what the soundest English authorities this statement of the situation by any distinct recomhave already admitted, that it was the bombardment mendation beyond the general instructions to the Presumably an act of war Taft Commission, which are recited. Df the Taku forts by the foreign fleets svhen ao war had been declared which brought on the this Executive attitude means that on the question We think it is now generally con- of formal and final policy towards the Philippines the orisis at Pekin. ceded that this bombardment was a grave mis- Executive is ready to follow the decision of Congress. take. The United States took this view of the matter Since Congress is by no means aligned in the quesat the time, and its warships stood aloof. It was a tion on a strictly partisan basis, and since the Adminproper sequel that the United Sfcates| Government, istration has not insisted on any policy which would States were dis- thereby become a party measure, there is some chance at a time when the European cussing a Chinese war and devising plans of retal- that the whole vexed question may be fully discussed iation, steadily adhered to its theory that this country and decided on lines which will properly represent and China were at peace; that the uprising against enlightened American opinion. the foreigners was equally a revolt against the ChiThese are the longest and most important passages nese Government, and that even if our Government of the message. In addition the President recomwas unable to communicate directly with the Emper- mends increase of the regular army to 100,000, in or, it regarded the loyal Viceroys as representing in order to enable the Government to release volunteers their friendly and peaceful attitude the Chinese peo- now in service, and approves the Secretary of the It is easy now to see that this diplomatic posi- Navv's request for more warships. ple. As regards Porto tion offered the only way of escape from frightful in Rico and Cuba) the message virtually limits itself to ternational catastrophe, and that the way was safe reporting progress; the Cuban Constitutional Convenand direct. [But matters were not so clear when tion having in fact not completed its labors. The Secretary Hay, last July, announced the Ameri- President says of trusts merely that "restraint upon can position; there was in fact no little doubt such combinations as are injurious, and which are whether the European governments] were not within Federal jurisdiction, should be promptly apleaning irrevocably to the policy of revenge and plied by Congress" which does not necessarily enwar indicated in the attitude of Germany. That dorse the Federal Supervision Act proposed at the the policy proclaimed five months ago by the close session. last Of the currency, the of United States has now been practically endorsed he remarks that "it will be the duty, as I am sure it by all the other Powers, and that it is bringing will be the disposition, of the Congress to provide the whole Chinese imbroglio to a peaceful and digni- whatever further legislation is needed to insure the fied close, is a diplomatic triumph surpassed, in our continued parity under all conditions between our judgment, by none in the history of the century. It two forms of metallic money silver and gold."' This has insured the predominance of the United States in is somewhat general in terms but the recomthe future affairs of China, because we have been not mendation of a 130,000,000 reduction in taxation is only the just judge but the friendly intercessor. It positively urged. The Inter oceanic canal question is has done still more in confirming the moral prestige wholly left to Congress, except for a formal recomof the United States in the councils of the Powers. mendation for agreement with Great Britain to reA full review of this story occupies much of Mr. move obstructions of the Clayton-Bulwer treaty. The McKinley's message. He concludes by stating, for the ship subsidy plan is not made a foremost matter of •eview — — — — ; future, that reparation for the injuries to foreigners consideration, but is merely endorsed in general Ian- December THE CHRONICLE 8, 1900.] 1143 board of directors of said Kailroad Company sage. may declare, up to but not exceeding 4 per centum? Taken as a whole, the reader of this year's annual before any dividends shall be set apart or paid upon message will undoubtedly be most impressed with the the common stock." This statement, it will be seen, immense variety of extremely important problems, is far more explicit than the other, the additional home and foreign, which are pressing for the coun- words "not exceeding 4 per cent" leaving, one would try's decision. This of itself is a sign that our posi- think, little if any room to question the intent of the tion relative to the outside world has changed, and instrument. At the same time, it is worth while to that the charge is probably permanent. consider whether those who formulated it departed from established usage in so doing. It should be guage, and chiefly by citations from a previous mes- as the added that the articles of incorporation of the Baltimore & Ohio contain no further provisions concerning the point at issue, and we understand do not embrace the clause above italicised. on Saturday last instituted proceedings to determine To determine what have been the forms of expresthe rights of the company's preferred stock. This sion in common use we have read the preferred ceraction, particulars regarding which are given in our tificates adopted by most of the leading railroad comnews columns, makes pertinent an inquiry as to the pro. panies of the country and in some cases also the visions not only of the preferred certificates of the articles of incorporation. The result of this reBaltimore & Ohio, but of other preference shares as well. search we give below. Ten companies, we find These provisions were set out at considerable length state expressly that all dividends above a certain peras regards some twenty railroads, including many of centage on the preferred shall belong solely to the the first rank, in our Investors' Supplement of common stock. The new Union Pacific Railway cerApril 24 1897, October 30 1897 and April 30 1898, tificates, for instance, say: "The holders of preferred and the issues of the Chronicle of the same stock shall be entitled in preference and priority over dates. Since then, however, several other stocks the common stock of said company to dividends in have come into prominence, and of these the each and every fiscal year, at such rate not exceeding Baltimore & Ohio in particular has been the sub- 4 per cent per annum, payable out of the net profits, RIGHTS OF BALTIMORE & OHIO AND OTHER PREFERRED STOCKS. A preferred shareholder of the Baltimore & Ohio ject of much discussion, some persons claiming, like the plaintiff in the suit above mentioned, that its terms of preference are ambiguous. Such ambiguity, if it exist, would appear to affect also the preferred shares of other railroad companies, and therefore, since it touches a point no less vital than the maximum rate of dividend payable on the preferred stock, we may well consider a few facts of general interest bearing on the matter, even without touching on the & Ohio of reorganization of the Baltimore provides that the preferred shares shall " be entitled to receive non-cumulative dividends at the rate of 4 per cent per annum before the here italicistd has been found in the preferred stock certificates of the following payment of any companies. Distinctly Stating that all Dividends Over a Certain Per Cent on Preferred Shall go to Common. Ann Arbor RR. Atlantic Coast Line RR. Atlantic & Danville Ry. legal aspects of the question. The plan by the board of directors. Such dividends are non cumulative and such preferred stock is entitled to no other or further share of the The same or a similar provision as the one profits." as shall be declared Union Pacific RR. Wheeling & Lake Erie RR. Canadian Pacific Ry. Chicago & Alton Ry. *The Chicago & Eastern Illinois RR. New York Ontario & Western Ry. St. Louis & San Francisco. articles of incorporation (in V. 71, clearly; the certificate we have not p 1022) state the facts seen. divi- In this list, besides the new Union Pacific, the new In the absence, howAlton, the new St. Louis & San Francisco, the new ever, of an explicit statement that the preferred shall Wheeling & Lake Erie, will be found the older comnot be permitted to share with the common in any panies, the Canadian Pacific, the Eastern Illinois, etc. further dividends, it is argued that the preferred Different in form from the foregoing, but in effect stockholders are, or may be, entitled to participate in we should say equally if not more definite, are five dividends on the same basis as the common stockcertificates of which three were prepared with unusual holders after payment of 4 per cent on the entire care by and under the direction of the late Mr. share capital. It is well known that the company's Charles H. Coster, of J. P. Morgan & Company, who, officials have always held that 4 per cent per annum as he told us, sought to have them models of clearness. is all that the preferred stock can receive, but the These three are the Erie, the Eeading and the Southpetitioner in the aforesaid suit contends that the ern, and they provide with great minuteness just preferred stock is entitled either to a dividend of 4 what are the profits from which the preferential diviper cent and an additional pro rata share, in common dends at the specified rate shall be payable, and then with the common stock, of the remaining profits "If after say in substance, as do also the other two: distributed, or at least to a pro rata share with the providing for the payment of full dividends for any common stock in any profits to be distributed after fiscal year on the preferred stock there shall remain payment of a 4 per cent dividend on both classes of any surplus undivided net profits, the board out of dend on the common stock." shares. As the stock under a voting selves We are not of the Baltimore & Ohio trust, the preferred commonly is deposited certificates them- available for examination. such surplus may declare and pay dividends for such year upon the common stock." The five companies are: After " Full Dividends " on the Preferred the Directors " May Declare Dividends Out of Excess Profits have been favored, however, with the exact wordon the Common Stock." ing of the certificates, both common and preferred, Southern Ry. Erie RR. and in each we find the following: "The holders of pre- Norfolk & Western Ry. Reading Company. * * * are entitled to receive in each year Pere Marquette RR. ferred stock The words "full dividends" on the preferred stock out of the surplus net profits of the company for the distribution current year such yearly dividends (non- cumulative) are manifestly intended to limit the THE CHRONICLE. 1144 dividends on that stock to the amounts stated, and leave to the directors no discretion as to the excess ofits except to say whether or not they shall be di- [Vol. LXXI, "Whenever 4 per cent dividends shall have been clared on both preferred stock and common stock any year, any further dividends for such fiscal defor year shall be equally for the benefit of all shares, whether ded to any extent among the common shareholders. On the other hand, the following companies have preferred or common." Stated with similar distinctsued certificates of preferred stock, that, touching ness in this respect are the provisions of the folreferred to (but omitting in some lowing companies: l6 provision ses the words "not exceeding"), are substantially Distinctly Stating that Common and Preferred Shall Share ie same in altimore & their terms Ohio; that as the is certificate to say, they of the name the nount of the preferential dividend, or the amount hich it shall not exceed, in priority to the common ock, and do not state in so many words, though stinctly implying it, that all remaining profits, if vided, shall go to the common shareholders. * Provisions Similar to Those in the B. & O. Certificate. Fe By. y Denver & Bio Grande BE. y Kansas City Fort Scott & MemCentral Massachusetts BR. phis BR. /hie. Indianapolis & Louis. By. Missouri Kansas & Texas By. Choctaw Oklahoma & Gulf BB. New England BB. Georgia & Alabama By. St. Louis Southwestern By. Atchison Topeka & Santa Boston & Maine BB. Pro Bata After Entire Capital Has Beceived Certain Specified Bate. Allegheny Valley By. Hocking Valley By. Buffalo Bochester & Pittsburg BB. Iowa Central By. Chicago Milwaukee & St. Panl By. Lake Erie & Western BB. Cbloago & North Western By. Minneapolis & St. Louis BB. Chicago St. Paul Minneapolis & Minneapolis St. P. & Sault Ste. M. Omaha By. New York Chicago & St. Louis BE. Chicago Terminal Transfer BB. New York Susque. & Western BB. Cincinnati Hamilton & Dayton By. Northern Paoifio By. Cleveland Lorain & Wheeling By. Pittsburg Cin. Chicago & St. Louis. Des Moines & Fort Dodge BB. Bio Grande Western By. Georgia Southern & Florida By. Wabash BB. I | This refers to the provisions already mentioned without reference the question whether or not the unpaid dividends are cumulative, rhe certificates contain the words "not exceeding" or "not more an." s The certificates contain the words "up to"— per cent. * In several of the instances in which the preferred is thus admitted to a further share of the profits, the provisions are quite elaborate, stipulating that the preferred shall receive a certain per cent, then the mon com- a certain amount, then the preferred an addi- sum, and then the common a further portion. The Allegheny Valley and the Pittsburg Cincinnati In addition to the older companies, like the Boston Chicago & St. Louis are examples, the latter's certifiMaine and the Central Massachusetts, are here incates embodying the following. luded some companies of medium age like the DonThe net earnings of the company, as the same may be er & Rio Grande and the M. K. & T., also several of found and declared by the board of directors but not otheraose formed more recently, as the Atchison and the wise, shall be applied to the payment of dividends each year ihicago Indianapolis & Louisville. An excerpt from on the preferred and common stock as follows First. On the preferred stock at the rate of 4 per cent per tie certificate of the Atchison will give an idea of the annum, payable semi-annually in July and January, or so eneral resemblance which this last lot of certificates tional : thereof as may be earned and declared as aforesaid; but if in any one year there shall be no net earnings found The holders of the preferred stock are entitled to non- and declared as aforesaid applicable to the payment of diviumulative dividends in each and every fiscal year * * * dends on said preferred stock, the obligation to pay dividends t such rate, not exceeding 5 per centum per annam, as shall in such years shall not exist, nor shall such unpaid divie declared by the board of directors of the company, in prefer- dends be cumulative. oce and priority to any payment in or for such fiscal year of Second. After payment of 4 per cent per annum as aforeny dividend on the common stock or any other stock of the said on the preferred stock, 3 per cent per annum shall be ompany, but only from individual net profits when and as paid on the common stock. etermined by said board of directors. Third. After payment of 3 per cent per annum as afore- ears in the feature named to the B. & 0. provisions. much has said on the common stock, 1 per cent additional shall be een outstanding since 1890, during which period paid on the preferred stock. Fourth. After payment of said additional 1 per cent on the he common stock has in several years paid divi preferred stock, 2 per cent additional shall be paid on the lends in excess of 6 per cent, but so far as we know common stock. io one has ever claimed that the preferred has the Ftfth. After payment of said additional 2 per cent on the hadow of a right to more than its 6 per cent. Also common stock, all net earnings found and declared as afore- The t preferred stock of the Boston significant that there is is & Maine not, so far as we can a single railroad company which has issued referred certificates stating in unequivocal terms earn, said, or so much thereof as the directors shall deem proper on all outstanding common and preferred stock of the company. snail be paid in eqnal percentages The intention in all these latter cases regarding the afterpayment of the preferential divifurther profits is so unmistakable, lend shall belong pro rata to both stocks, as has been apportionment of uggested by some in the case of the Baltimore & Ohio, and the method followed by the Baltimore & Ohio has frequently employed to indicate the maximum without first giving the common stock a certain por- been so dividend to which the preferred can lay claim, ion of the income. Many years ago a preferred rate of considerations involved the tockholder of the Hannibal & St. Joseph, basing that apart from the legal assumption would appear irresistible that the prelis claim on an alleged ambiguity in the preferred ferred shares of the B. & 0. are limited absolutely to lertificate, attempted to show that after 7 per cent 4 per cent per annum. pas paid on the preferred, the preferred and common hat all profits hares should stand, as regards all further dividends, TEE COUNTRY BANK. OF the same footing. He failed to establish his Rev. Henry A. Stimson, D. D. ilaim, though the case was carried to the Supreme Jourt of the United States. Among the various forms of the accumulation of On the other hand, those cases in which the pre- capital which are now awakening so lively an intererred stock is intended to share pro rata with the est, and in the minds of some are such a portent THE FUNCTION >n iommon after both have received dividends at a cer- ain rate usually have the provisions to this effect so that there is no possibility of mistaking of evil, none, except perhaps the railways, diffused and concerns so many is so widely people or represents so Upon them rests not much wealth as the banks. Thus, the preferred certificates of the only the success of most other corporations, but also lew Hocking Valley Railway contain the following: the commercial and industrial stability of the whole tlearly stated he intent. December county. THE CHRONICLE. 8, 1900.] whether hostile or them; and all questions of the national currency must begin and end with a careful consideration of the part they play. In the great centers of business they are supreme, and in the country they come close to the homes of the people. Everywhere they constitute the channel of exchange; and they preside over the organization, as Discussion of trusts, friendly, eventually reaches 1145 machinery and buildings, are now deposited in the bank with the effect that farms, of the country, are deteriorating in quality, while the owners of them are to be seen moving into the villages and towns to live upon the income of their investments, leaving the farms to degenerate into inferior culture, to pass into poorer hands, or even to go entirely to waste. But be they are essential to the continuous life, of every busi- that as it may, the savings bank has come everywhere ness enterprise. to represent the stable earnings of a large part of the In the discussion of the various financial and social American people, and upon its careful administration questions which are now uppermost and which are depends their happiness. There are 950 such banks, sure to continue so for a good while to come, it has with five millions of depositors. Furthermore, this occurred to me that a picture of the daily life of a country bank issues $15,000 of currency its part of country bank would be suggestive. Men may think the $331,613,268 of the outstanding national bank what they will of a great city institution, where, in issue October 31 1900. This, with its own checks and the inmost recesses of a palatial building, as removed the service which it renders in furnishing exchange as possible from the life of the people, a small group for other parts of the country in the form of drafts, of wealthy men is supposed to sit in control of the makes up the aggregate of its constant service in the courses of trade and even of the destiny of the nation; daily business of the community. and in the heat of political discussion or of excited But in addition to this its officers are rendering a sympathy with oppressed peoples, fierce denunciation service of which no bank examiner takes note and no may be directed against them; but when they come record is to be found in any tables of statistics. They to be recognized as a part, and but a small one at are the chief financial advisers of the entire comthat, of a system which is intimately bound up with munity; they are the usual administrators of the esthe welfare and personal life of all, the situation tates of the dead, the trusted counsellors of widows changes. When it is considered that there are some- and orphans, and the chief advisers in all the busithing over ten thousand banking institutions of all ness undertakings of the neighborhood. In all these kinds in the country, it will be seen how few relatively they are the important conservative factor in its inare in the great cities; and when it is remembered dustrial and commercial life. What they do in* prethat they have about fourteen millions of depositors, venting foolish investments and heading off rash unor one in approximately every five of the population, dertakings cannot be estimated. They are almost counting men, Miomen and children, it will be under- the sole channel through which the knowledge of the stood how closely they concern us all. great commercial world outside reaches the people; I chanced recently to spend some time in a small they stand therefore both for the stability of its life country village which has a single bank, and observa- and the intelligence of its judgment. For all this tion of its daily life set vividly before me the function their compensation is but small, as they live much which the banks fulfill everywhere. This bank is the same life as their neighbors, enjoying the same thirty- five years old; its stock of $50,000 is almost en- comforts, enduring the same trials, and having only tirely held in the village. It has paid to its thirty- the exceptional reward of knowing how.important is seven shareholders eight per cent on the average the service they are rendering. savings instead, especially In the older parts — seldom changes hands, and this dividend is an important part of the owners' income. It has accumulated a surplus of $20,000 as its guar- annually. Its stock anty against loss. It carries 244= accounts, representing the few village stores, some farmers in the neighborhood, two or three small industries and the householders of the community, with the professors in the college which is located there. Its deposits are and has outstanding loans in the community of about $50,000. An average of 125 checks are drawn upon it daily. But these by no $130,000, means represent the it daily service which it renders, imports into the town an average of $10,000 in currency and $2,000 in silver each month, which appears to be absorbed by the community, as it does not return. Furthermore, it has in connection with for it In the case of the particular bank of which I am speaking, this service is increased by its administration of the finances of a country college looking after its investments and meeting the needs of its six or seven hundred students a service which, however, is incidental as bearing upon the relations of the bank — — to the community at large. now, this sketch be applied all over the land, it will be seen at once how much we are indebted to a form of organized capital which is indeed one of the oldest in the world, but in our times has gained its wide development. In it may be studied to advantage the initial forms of the accumulation of capital which have come to be the most characteristic feature of the If, modern world. form of trusts Whether in some and the like, they aspects, in the are dangerous to bank with deposits varying from eight hundred thousand to a million and a quarter, which represents a very large part of the accumulated capital of the entire commuity, and for the care of which the community is almost entirely dependent upon the officers of the bank. It may be questioned whether or not, from the standpoint of agriculture, savings banks are an unqualified blessing. Thoughtful people are now call- the welfare of the people and the safety of society or ing attention to the fact that the earnings of the farmers, which in earlier days were returned to the land in the form of fertilizers and improvements o extent and the solidity of the underlying foundations Hostility here and are understood and appreciated. it a savings show how thoroughly they are interwoven in all the forms of the modern civilized community, how impossible it would be to dispense with them, and how injurious beyond calculation would prove any serious attack upon them, whether in the form of adverse legislation or the Evils here and there in creation of public hostility. not, a moment's thought the superstructure may there to an individual will best be dealt with who may abuse when the a position of THE CHRONICLE. L146 or of exceptional power should not be allowed blind our eyes to the daily and inestimable service ist [Vol. LXXI. in accordance with the expressed wishes of the cestui que trust; but if the transfer of the legal title to the multitude of managers and directors stock is made and accepted under an agreement of one kind and another throughout the land are the stockholder which deprives him of all power to direct the trustee, and all opportunity to exercise his idering. own judgment in respect to the management of the VOTING TRUSTS. LIMITATIONS affairs of the corporation, then whether the transaction is open to the objection of other stockholders, as [t is open to question whether the recent decision illegal depriving them of the right they have to the aid of Chancellor Magie of New Jersey, holding Voting Trust Agreement entered into by the their co-stockholders, must be dependent upon the b areholders of the Distilling Company of America, purposes for which the trust was created and the s not been given a wider import than the facts war- powers that were conferred. In many quarters the ruling has been interit. If, says Chancellor Magie, stockholders, upon coneted as rendering any form of a voting trust ob- sideration, determine and adjudge that a certain plan xious and as forbidding all pooling arrangements for conducting and managing the affairs of the corDoubts have poration is j udicious and advisable, there can be no similar devices among shareholders. en been expressed as to whether a scheme of whatever doubt that they may, by powers of attorney or the ad by which the power to vote upon stock i3 separated creation of a trust, or the conveyance to a trustee of jm the ownership could be valid. Supposing the their stock, so combine or pool their stock as to procision to be sustained on appeal, it may be accepted vide for the carrying out of the plan so determined defining the limitations to which such arrange- upon. But if stockholders combine by either mode but it obviously to entrust and confide to others the formulation and snts are subject in New Jersey, In this instance the ar- execution of a plan for the management of the affairs es not rule them all out. Qgement contained special obnoxious features, and of the corporation, and exclude themselves by acts made and attempted to be made irrevocable for a ,d nothing in common with such voting trusts as are ich the UPON ually created after foreclosure and reorganization embarrassed properties. In substance Chancellor agie declares that the shareholder could not, under e circumstances existing in the agreement before e Court, make the delegation of power irrevocable, >r could the Voting Trust provided for exclude any the shareholders. The importance which has been ven to the case seems to make desirable a more exuded review of the points on which the ruling was ised than we were able to give in our news colums the time. The Distilling Company is a New Jersey corporaDn, and the Court points out that the Legislature that State has conferred upon stockholders of •ivate corporations, created by special laws or under meral statutes, the power to appoint a proxy to ist their votes. This power having been given by le Legislature, the Court declares it is impossible maintain that a proxy which confides to the at>rney thereunder the power to exercise his judgtent in certain cases, and so separates the voting ower from the ownership of the stock, is void per se. he principal may doubtless limit the power conjrred to voting on certain questions and in a certain ay. But if, as is customary, the power is unlimited, must be exercised by the judgment and determinaon of the attorney on any questions which may be ! > resented. The power of revocation rotect the rights of other the ler, stockholder is deemed sufficient to stockholders. undertakes to If, make irrev- jlf his for a from the exercise of judgment thereon, they reserve to themselves any benefit to be derived from such a plan to the exclusion of other stockholders who do not come into the combination, then, or if in the opinion of the Court, such combination and the done to effectuate it, are contrary to public policy, and other stockholders have a right to the in- acts terposition of a court of equity to prevent its being put into operation. The Court then proceeds to test the Distilling Company agreement by these principles. By the terms of the agreement the stockholders of the company, who became parties thereto, bound themselves to deposit their stock with the Mercantile Trust Company and to transfer the legal title to the known men (named same in the instrument) to five well- who were to act as trustees in the execution of the plan for which the agreement was devised. The trustees were to be the owners of the stock for the period of five years from the first day of July 1900. The object of the combination was to provide the additional capital so much needed in the management of the affairs of the corporation, and the Voting Trust was intended to give assurance of an honest, conservative management, coupled with a fixed policy for a term of years, and thus to facilitate the effort to get the required money. The plan by which this capital was to be raised was not, however, specified or indicated That was left to the discretion of in the agreement. named paper) actthe shareleading the of request the at ing This comholders of the Distilling Company. mittee was to decide by what means the funds were to how- a grant of power and to denude himfixed period of the power to judge nd determine and vote as to the proper mangement and control of the affairs of the corporaion, then whether the grant of power is good or not lust depend on the purposes for which it is given. Phen the scheme devised does not embrace a grant of ^revocable powers by proxy, but seeks a similar obsct by the creation of a trust and the appointment f a trustee, to whom the title of the stock is coneyed, a like doctrine must be applied. If no proision is made for the conduct of the trustee, at least ie would be bound to vote on the stock held in trust sable fixed period, committee (also in be raised, whether by the issue of bonds, mortgages or other obligations ; but their plan was to be subject It to approval or modification by the voting trustees. was distinctly provided that no assessment could be Stockholders were to have levied on the shares. fifteen days after the announcement of the plan to withdraw from the agreement and be entitled to a return of their stock. But the trustees were to be at liberty to proceed to execute the plan and agreement irrespective of the action of the stockholders withdrawing. Stockholders not assenting to the agree- December 8, THE CHRONICLE. 1900.J ment, or not depositing their certificates of stock in accordance with its terms, were expressly excluded from aDy benefits that might accrue under the same, though the committee was given the power to extend the time for making deposits, and also to admit nonassenting shareholders under penalties. The arrangement was to become binding and effective whenever a majority of all outstanding stock should have assented thereto, or whenever in the judgment of the Trustees a sufficient number of shareholders had signed the 1147 referred to renders the withdrawal of stock, even of all the combining stockholders, ineffective in pre- venting the execution of a plan devised by the Trustees because it expressly provides that the Trustees shall have liberty to execute such plan irrespective of the parties so withdrawing. The Chancellor says that while he should entertain no doubt that the gentle- men composing these Trustees would not take advantage of withdrawing stockholders and execute a plan they disapproved of, the fact that they are given ex- agreement or deposited their stock. press power to do so and the power to elect the board The Court took pains to point out that $54,000,000 of directors to co- operate with them, deprives the out of the $75,000,000 capital stock of the company transaction of any tentative character, and justifies had been deposited under the agreement; also that the its being pronounced contrary to public policy, in complainant, Fillipp P. Kreissl, was the owner of only that it provides for a possible management of the 420 shares of common stock and 85 shares of preferred affairs of the company during a fixed period of time, stock of the par value of $100 each. Nevertheless, by the judgment and determination of others, and though the plaintiff's holdings were comparatively not by the judgment and determination of complainsmall, and no matter how insignificant his interest ant's associates in the corporation. might be, he was entitled to relief against inequitable The agreement is also declared to be void for the conduct which might injuriously affect his interest. further reason that by its Fifth Article stockholders The Court would, however, scrutinize the claim with who do not enter into it are expressly declared to be care and not interfere with interests in the same prop- entitled to no benefits under it. The Chancellor says erty which are vastly greater, except it be necessary that upon the argument the meaning of that provifor his eventual relief upon final hearing. The Chan- sion was not made clear. But he thought it evident cellor thought that the affidavits in the case estab- that the parties to the agreement conceived that aslished the fact that notwithstanding the company had senting stockholders had an interest in carrying out very large assets, additional capital was nevertheless the agreement which would not inure to the benefit deemed to be judicious and necessary. But a weak of those who did not join it. Whether the privilege point in the arrangement was that no plan for procur- of subscribing additional shares of stock issued or ing such capital was disclosed as having been formu- taking bonds or obligations issued to raise additional lated or determined upon. On the contrary, the form- capital was the benefit intended to be conferred on ulation of such a plan was expressly entrusted to the the assenting stockholders to the exclusion of the Trustees and the Committee, and stockholders had non-assenting stockholders, the Court could only conexpressed no judgment in respect to what plan should jecture. It was sufficient to say, however, that the be adopted. agreement disclosed an intent to exclude stockholdThe Court refers to the character and respect- ers who do not enter into it from whatever benefits ability of the gentlemendesignated as Voting Trustees could be claimed thereunder. This, in the Court's and to their statement (contained in the answer to judgment, showed a combination contrary to public the complaint) that they accepted the office conferred policy and one to which any non- assenting stockupon them in the belief that they could benefit the holder might object. stockholders by controlling and providing capital for the purposes of the company and by exercising a ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S supervision over the selection of directors and of—The sales of bank stocks at auction this week aggregate ficers of the Distilling Company and its constituent 59 shares. No sales have been made at the Stook Exchange. concerns. By controlling such selection the Trustees The sales of trust company stocks reach a total of 111 shares, could secure a conservative and fixed policy during all sold at auction. Shares. Last Previous Sale. Banks— New York. Price. the existence of the trust, and furthermore it was 6 America, Bank of Nov. 1900— 471 475 deemed that all these various ends could be best ob- tained through the instrumentality of a Trust. The 2 Commerce, National Bank of.. 264 Nov. 1900— 262 1 Garfield National Bank 1750 No sale in 1898. 1S99, 1900 Nov. 1900- 211 2 Mechanics' National Bank.... 215 108 Oct. 1900— 101 18 Phoe& Leather Bank, Nat Nov. 1900 - 105 30 Twelfth Ward Bank 100 Trust Companies—New York. May 1900— 336 1 Colonial Trust Co 358 Nov. 1900— 650 10 Guaranty Trust Co 655 100 Produce Exchange Trust Co.. 140 1a-141i4 Nov. 1900— 135^ Court makes reference, likewise, to the declaration of the defendants that it was not intended to carry out any plan for the rehabilitation of the affairs of the company without first obtaining the approval of the —The Fidelity Bank, a State institution with a capital of holders of stock who had deposited their shares under $200,000 and> paid-in surplus of $100,000, opened for busithe voting trust agreement. The Court says such ness at the corner of Madison Avenue and Seventy-fifth St. statements, however, in nowise limit or restrict the on Monday. It was reported in this department October 13 but there was unTrustees in the exercise of such powers as have been that the bank would open on November 1, expected delay in preparing the premises for occupancy. conferred or are attempted to be conferred by the Dr. Edward H. Peaslee is the President, James Stillman, agreement in question. President of the National City Bank, is Vice-President and The argument was made that the agreement was Frederick Fowler is Cashier. only tentative, and that the stockholders who joined —Henry W. Cannon, President of the Chase National Bank, sailed for Europe on Wednesday of last week, intendtherein had reserved to themselves the power, after the plan contemplated should be formulated and pro ing to be absent for about two months. mulgated in the manner provided, to withdraw and receive back their stock. The Court says that if the provision set up to that end would have the effect of preventing the execution of the plan, the argument might perhaps be effective; but as it is, the proviso — A delegation, representing Group VIII, of the New York which embraces New York City Washington on Wednesday and extended an invitation to President McKinley to attend the annual banquet of the Group at the Waldorf -Astoria on December 19. The Presid nt expressed fears ihit puolic business State Bankers' Association, bank officers, visited : THE CHRONICLE. 1148 would prevent his acceptance of the invitation. The delegation visited Secretary Gage and secured his promise to attend, and it is expected that Secretary Long, of the Navy Department, will also be present. construction in Monroe near 069,778 and aggregate resources (including its capital and surplus of $5,000,000) $12,253,907. The institution is a depository for New York City and State, and has been desig- nated by the Banking Department as a legal depository for savings banks and for lawful reserve of New York State banks and banters. Edwin Gould is the President; Samuel Thomas, First Vice-President; George Wm. Ballou, Second Vice-President; William H. Taylor, Third Vice President; J. A. Hilton, Treasurer, and William M. Laws, Secretary. La Salle street, the first of next April. —At a meeting Calvert —The Bowling Green Trust Company of this city has issued a statement showing its condition at the close of business November 30, 1900. On that date its deposits were $7,- [Vol. LXAI. Bank on November 30 of the stockholders of the of Baltimore, recently organized, the following were elected: Wilbur F. Jackson, Richard Gwinn, Thornton Rollins, George K. McGaw, James H. Preston, Charles W. Hurst, Thomas O'Neill, Albert H. Carroll, Frederick H. Gottleib, William C. Crawford, Grafflin Cook, Edgar M. Noel, William C. Page, Thomas W. Jenkins and Louis N. Gutman. The directors met on Saturday last and elected William C. Page President and the Hon. James H. Preston Vice-President and Counsel. The bank will operate under a liberal charter granted by the last Legislature. It will begin business with a capital of $100,000 and a surplus of $20,000. There are 2,000 shares, par value $50, which were directors issued at $60, thus providing the surplus of $20,000. The —William H. Baldwin Jr., President of the Long Island bank will have both commercial and savings departments. A Railroad Co., was on Wednesday elected a director of the lot has been purchased corner of Howard and Saratoga Corn Exchange Bank. The board now numbers eighteen streets on which a banking-house will be erected. In the meantime the bank will secure temporary quarters and begin —A committee of the American Bankers' Association has business about January 1. been selected with the object of seeking to procure from —On November 30 Francis M. Black, a former Judge of Congress a reduction in the existing internal revenue taxes. the Missouri Supreme Court, was appointed receiver of the The committee consists of A. B. Hepburn, Vice-President of Guardian Trust Company of Kansas City, and early this the Chase National Bank, Chairman; James R. Branch, Secre- week Judge Lacombe named Mr. Black ancillary receiver tary; James H. Eckles, ex- Comptroller of the Currency and for the property of the company in this State. The company President Commercial National Bank, Chicago; John T. was organized in 1889 as the Missouri Kansas & Texas Trust Branch, President Merchants' National Bank, Richmond, Company, with a capital of $1,200,000. In 1899 a reorganiVa.; Myron T. Herrick, President Society for Savings, Cleve- tion took place, and under the new name the capital was inland, O.; W. T. Dixon. President National Exchange Bank, creased to $2,500,000. The company was organized by ArBaltimore, and Alvah Trowbridge, President American thur E. Stillwell, and the receivership is the result of differBankers' Association, ex officio member. ences between him and the interests represented by John W. decision of some interest to bankers and merchants Gates. It was alleged in the suit that Mr. Stillwell contemtrading with Porto Rico has been made by the Acting Com- plated using the funds of the company to promote the Kanmissioner of Internal Revenue. The First National Bank of sas City Mexico & Orient Railroad and to further other Brooklyn inquired, through the Collector of the First Col- projects which some of the stockholders do not deem benlection District, what tax accrues upon a ten- day sight draft eficial to the interests of the company. Mr. Stillwell, when drawn on a party in Porto Rico. The Acting Commissioner questioned as to what effect the receivership would have on the affairs of the trust company, is reported to have said replied that in the opinion of that office Porto Rico is not a "It will prevent the company from engaging in active busiforeign country within the meaning of the paragraph in ness. When the liabilities are settled the receiver will be Schedule A of the War Revenue Act, relating to bills of exThe liabilities of the company are about $800,change, foreign, and that a ten-day sight draft drawn in the discharged. City of Brooklyn on a person in the island of Porto Rico is 000, and its assets are more than $3,000,000. There is no directors. —A not to be considered "as drawn in but payable out of the United States." —The New York Security Trust Company have added to their board of trustees Mr. Abram M. Hyatt, their VicePresident, and Mr. George W. Perkins, Vice President of the New York Life Insurance Company. & danger of the stockholders or the creditors losing anything." also declared the action would have no effect on the affairs of the Kansas City Mexico & Orient RR. The trust company, he stated, was not financing that project. He — The Central Trust Company of Camden. N. J., recently moved into its handsome new building on the corner of —Wolf Bros., members of the New York and Philadelphia Federal and Fourth streets. The new quarters are finished Stock Exchangee, have opened an office at 100 Broadway, in marble, mahogany and bronze, and contain safe deposit occupying those lately vacated by the North American Trust vaults of the newest and best pattern. The instittition has a capital of $100,000 and surplus and undivided profits of Company. —Mr. A. M. Fletcher, formerly connected with the Fletcher National Bank of Indianapolis, has opened a private banking office in the new American Exchange National Bank Building. Besides conducting a regular banking business, particular attention will be given to high-class municipal bonds for investors. —Mr. mans & Clarence W. Seaman, of the firm of Wyckoff, SeaBenedict, was elected to fill a vacancy in the board of the People's Trust Company of Brooklyn at the last meeting of the trustees of the institution. The company is paying regular monthly dividends of 1 per cent. —The capital stock of the Chicago National Bank is to be increased from $500,000 to $1,000,000. call has been issued for a meeting of the shareholders on Dec. 31 to approve the proposition. The stock is to be issued at the high figure of 300, and even at that price should be attractive to the shareholders, as it is quoted in the market at 345 bid and 360 asked. By selling the shares at 800 a full $1,000,000 will be added to the bank's surplus fund, which now stands at $500,000. After the operation is completed, therefore, the bank will have a capital of $1,000,000 and a surplus fund of $1,500,000, besides undivided profits to the amount of about A $200,C00. The officers of the bank are and aggregate resources Alpheus McCracken, President; Its deposits are $1,150,200 $75,000. $1,325,235. The officers are: Charles Watson, Vice-President; T. S. Nekervis, Treasurer, and David J. Pancoast, Solicitor: The company also operates a branch at Ocean City, N. J., of which L. M. Cresse is Manager. —It per cent on the subscriptions to the stock of the recently-organized Metropolitan National Bank of Cleveland, Ohio (see Chronicle of November 17), will be payable December 20, arid the second instalment of 50 per cent January 20. is announced that the first call for 50 —It was announced in these columns on September 1 that the shareholders of the Continental National Bank of Chicago had voted to increase the capital of the bank from $2,000,000 to $3,000,000. The directors have now decided to issue the additional $1,000,000 stock, though no definite date has yet been fixed for carrying the operation into effect. It is believed that the new shares will be offered to the stockholders at par, thus netting a handsome bonus to these holders, as the stock is now quoted in the market at 172 bid and 176 asked. According to the bank's return to the Comptroller of the Currency, under the call of last September, the deposits of the institution at that time exceeded $31,000,000. John R. M. The German National Bank of Newport, Ky., which was Blount, and Assistant Cashier, T. M. Jackson. The bank robbed a short time ago of $191,000 by its Assistant Caehier expects to move into its new building, which is in course of and has since been in the hands of a receiver, has obtained Walsh ; Vice-President, : President, Andrew McNally ; Cashier, F. — ,_ — . DecEMBEB 8 . THE CHRONICLE. 8, 1900.J permission from Comptroller Dawes to reorganize in accordance with the plan outlined by Bank Examiner Lynch, and it is expected that the bank will re- open for business by January 1. In his report to the Comptroller Mr. Lynch recom mended, among other conditions, a 100^ per cent assessment on stockholders and a payment of, $67,000 by the directors. This will bring the total assets} of the bank up to $852,000 the liabilities are $781,000. complete change in the offices of President, Vice-President and Cashier was recommended, as well as a change in the board of directors. ; A —The Old National Bank of Grand Rapids, Mich., has issued a very handsome booklet to announce the reopening of its offices at the old location, but now enlarged, remodeled and completely refurnished. A brief historical sketch of the institution and of its predecessor, the First National Bank of Grand Rapids, is also furnished. The First National was organized in 1863, with a capital of only $50,000. The stock was gradually increased, until at the end of twenty years it had risen to $400,000. In 1883, when the Old National Bank was organized and assumed the business of the First NaBank, the capital was made $800,000. Since then the amount has remained the same, and in the interval a surplus tional delphia 14*7 per cent, Baltimore 15-5 per cent, St. Louis ll'l percent and New Orleans 61-3 per cent. Boston records a loss of 0'3 per cent and Chicago 2'0 per cent. The bank's deposits in Sep- tember were $2,879,394 and its aggregate resources $4,145,361. The officers of the bank are: President, James M. Bar- Week Ending December CLEARINGS. Returns by Teleoraph $925,431667 +277 119.326.705 84.494 301 119.677,718 73,675.991 21978.875 123 405.846 33,512973 19,030 264 125,995,626 -0-8 +14-7 +16*5 Chloago St. Louis New Orleans Seven Total +11-1 +61-3 236,497,861 $1,304 306,122 218,491,847 +21-3 +8*8 $1,818,061,695 $1,622,797,969 -I-19-4 365,104622 801,281,877 +21-2 $2,183,166,317 5 days $1,824,079,846 +W7 $1,581,563,834 6 days all cities, 6 days day All cities, 1 all cities for week. Our usual monthly detailed statement of transactions on the various New York Exchanges is appended. The results for the eleven months of the calendar year are given, and for purposes of comparison the figures for the corresponding period of 1899 are also presented.' Eleven Months, 1900. Par Value Value. 114.968,555 8 3to Actual or Quantity Oucription. <*{vai $11117096887 $7673297,460 BR. bonds.. $463,774,300 $376,070,307 Eleven Months, 1899. Aver'ge Par Value Price. or Quantity —The Ohio Trust Company Columbus, Ohio, to which reference was made in these columns last week, has effected a permanent organization by electing the following directors: N. Monsarrat, G. J. Hoster of the Ohio National Bank of Columbus; W. S. Courtright, C. R. Mayers Cashier of the New First National Bank^of Columbus; J. F. Stone, W. G. Jones, Fred Lazarus, O. A. Miller, Theo. S. Huntington, George T. Spahr of the Central Ohio Savings Bank & Trust Company of Columbus; F. W. Prentiss, President of the Hayden-Clinton National Bank, Columbus; J. L. Vance Jr., G. C. Urlin, F. L. Griffith, and G. W. Bright Vice President of the Capital City Bank of Columbus. Mr. George W. Bright has been elected President of the institution, N Monsarrat, W. S. Courtright and G. J. Hoster Vice-Presidents, and J. L. Vance Jr., jSecretary and Treasurer. Offices will be opened on the ground floor of the new Hayden Building on the first of May next. of Sov't bonds State bonds Bank stooks 69-0 Price. $884P031,660 Total value. 13,545375886 The volume of transactions in share properties on the New Fork Stock Exchange each month since Jan. 1 in 1900 and 1899 is indicated in the following SALES OF STOOKS AT : NEW YORK STOCK EXCHANGE. 1899. 1900. Month. Values. Number of Shares. Par. Values. Number Actual. of Shares. . Par. Actual. $ $ $ 687,243.018 24,251,983 2.360,845.650 1,610,520,838 976,723,926 718,677,567 16,106,235 1,536,370,500 1,190,899,108 Uarch. 14,446,782 1,409,933 650 1,101,018,407 17,742,390 1,705,438,460 1,376,266,851 $ Jan 9,843,716 ffeb.... 10,196,392 946,581,487 Istqr 34,485,890 3,333.238,962 2,606,938,992 68,100,608 5,692.664.600 4,186,685,786 April... 14,772,978 1,434,106,700 May... 9,519,473 902,298.900 June.. 7,308,687 704,924,650 977.081,461 16,993,626 1,675,038,650 1.431,785,178 610,401,418 14,956,899 1,467,663,850 1.234,986,680 455,082,364 10,903,793 1,066.513,050 927,954,406 2dqr. 81,601,138 3,041,830,250 2,042,655,243 42,863,318 4,209,116,450 3,594,676,109 8 mos.. 66,087,033 6,874,569.212 4,549,694.235 100953926 9.801,770.050 7.780,361,895 the directors of the Equitable Trust Company of Chicago Mr. L. A. Walton, formerly Secretary and Treasurer, was elected Vice-President to succeed Mr. Charles H. Hulburd, resigned. At the same time Mr. C. D. Organ, former Cashier, was chosen Secretary and Treasurer and Mr. C. Huntoon Assistant j„Secretary and Cashier. Mr. John R. Walsh remains President. Dsep River Savings Bank of Deep River, Conn., last month, Harvey J. Brooks was elected Secretary and Treasurer of the bank to succeed the late Henry R. Wooster. Mr. Milon Pratt is the President and Mr. W. F. Wilcox Vice-President. July.... 0,280,498 August 4,020,654 599,842,700 893,267,750 Sept.... —At the annual meeting of —At a meeting Aver'gt Value, 69-5 16241385015 12,983671388 800 Total... $U5892S0722 $8057470.60 O rain, bush. 1,046,662,580 788,561,060 76 l-3c. 776,495,230 561,804,498 72 2-6C. — At the annual meeting of the stockholders of the Rhode Island Hospital Trust Company, Providence, on the 4th inst., the old board of directors was re-elected, with the addition of Messrs. Stephen O. Metcalf and Walter K. Callender. 80*9 $7,313,639 116-9 $1,469,157 750 $821,137 221-4 $6,367,310 $1,957,200 $145,025 Actual 169,358,967 12,309824417 79-7 1544W7060I $779,924,900 $660,754,321 84'7 $10,837,474 114'1 $9,494,*40 $1,400,801 72-9 $1,921,700 $754,375 223*4 $387,576 : W. Barnhart; Cashier, Harvey J. Hollister; Assistant Cashier, Clay H. Hollister, and Auditor, Hoyt G. Post. nett; Vice-President, —20 30,150,379 10,344,477 16,685.615 cities, cities, Total P. Cent $1,182,069,519 Boston. Philadelphia Baltimore Other 8. 1899 1900. New York of over a quarter of a million dollars has been accumulated, the surplus and undivided profits on September 5, 1900, in exact figures being $264,991. 1149 5,169,966 496,938,600 708,857,71* 401.407.206 8,387,630 820,926,600 236.987,469 12.985,349 1,232,066,050 1,075,627.941 301,498,746 12,460,90* 1,197,224,850 956,041,845 3dqr. 15.421,113 1,490,039,050 939,893,421 33.823,781 3,250.217,500 2,740,627,500 9 mos. 81,608,136 7.864,608,262 5,489,487,656 134777707 13,05198755 10.520889395 Oct.... 10,895,083 1,068,757,800 706,305,917 10.899.489 1.056,226,876 Nov.... 22.665.386 2,189,731.826 1,477,503.887 13,681.771 1.341.491,575 852.193,736 936,741,286 The following compilation covers the clearings by months January 1, since MONTHLY CLEARINGS. of the directors of the — Mr. James R. Branch, Secretary of the American Bankers' Association, calls attention to the fact that the Bank of Emden, Emden, Illinois, was wrecked by burglars on November 28 (the depredators securing $4,000 from the safe) and that this bank is not a member of the American Bankers' Association. 1900. The subjoined table, covering &c— clearings for the current week, usually appears on the first page of the Chronicle, but on account of the length of the other tables is crowded out once a month. The figures are received by telegraph from the leading cities. It will be observed that as compared with the corresponding week of 1899 there is an increase in the aggregate of 19*7 per cent. So far as the individual cities are concerned, New York exhibits a gain of 27*7 per cent, Phila- New York. 1899. P.Ct. 1900. $ 1899. P.Ot. $ $ 8,504,860,612 -10-2 6.992,303,868 —8-1 2.974.679.980 2,813,8 10,836 2,482.676,34 2,441,664,622 8,738,689,875 —12*7 2,794,909.284 2.836,504,896 +6' +1'7 -1-6 1st qnar.. 21,698.833,328 24,235,254.840 -10-6 8,252,265.549 8,091.780,364 +1-9 January. February .. *»roh 8 7,639.259,875 6,429,207,389 7,630,366,659 April 7,468,464,401 8.294,081,464 -101 2.742.217,451- 2,717,172,628 May 7,308,263,627 8,840.937,830 -12-4 2,831.016,54rt 2,816,279,634 June 6,656,258,051 7,608,877,349 —11-3 2,782,014.710 2,728,696.277 +0-8 +0-S +2-0 -LIS -109 8,365,278,716 2d quar. . 21,422,981,079 24.143.899,653 6 months. 43,121.814,102 48,379,153,998 Clearings by Telegraph.— Sales of Stocks, Bonds, Clearings Outside Clearings, Total All. Month. 8.262,148,434 +1*1 16,607,544.284 16,353.988,788 +1-5 2.519,195,686 2,705 822.279 8,583,509.631 -0-3 -8*5 -8-1 7,126,188,898 -123 6,941,851,474 —17-8 7,081,234,122 -20-fi 2,699.649,855 2,465,364,716 2,681,267,744 3d quar... 17,676,736,341 21,149,373,988 -16-9 7,684,210,257 7.970,589,664 -3-6 60.698,650,763 69,523,527,981 —12-7 24,291.754.641 24,324,628.448 -o-i July 6,261,364,789 August..... 5.703,484,202 September. 5,681,887,350 9 months October 7,617,648,195 November. 8,751.953,200 8.343.023.010 -8-7 7,909.434.541 +10-7 3.041,416.035 3.047,918.877 8,086,479,763 2.956.861,292 —1*5 +3-1 The course of bank clearings at leading cities of the country for the month of November and since January 1 in each of he last four years is shown in the subjoined statement. — — . . . THE CHRONICLE. 1150 BAKE 0LBA.RINO8 AT LEADING omitted.) Hew York... Boston..!.... Chicago Philadelphia St. Louis.... Pittsburg.. . Baltimore... SanFran'oo. Olnoinnati... KansaBCity New Orleans Louisville... Minneapolis. Cleveland... Detroit Providence.. Milwaukee.. Omaha Bullalo Columbus... Bt. Paul Hartford.... Denver Total...... . TotJftlall... , 8^346 7,542 6.174 06 367 304 5,106 74,224 82,332 58,692 4 B ,922 280 4,844 3,449 2,873 2,440 8,752 7,909 3,048 3,953 6,478 2,505 5,386 77,068 85,78161,565 51,362 2.264 30,381 30,367 24,251 21,523 Other cities.. OutsideN.Y. CITIES. November. Jan. 1 to November SO. 1900. 1899. 1898. 1897. 1900. 1899. 1898. 1897 S * * * * $ $ $ 5,704 4,953 3,973 3,122 46,687 55,414 37,314 29,839 615 538 448 5,587 6,477 4,868 4,628 614 490 584 458 5,200 5,998 4,944 4,098 577 400 822 286 4,241 4,380 3,282 2,897 406 139 141 124 1,525 1,486 1,315 1,234 153 745 884 129 78 68 1,472 1.402 145 719 842 934 1,111 84 72 95 89 680 741 74 883 95 75 936 92 567 590 721 678 66 53 54 66 494 537 61 57 51 694 589 72 356 382 45 402 49 46 484 63 292 30 315 29 385 376 38 35 363 410 527 484 63 56 66 60 286 353 45 35 29 515 472 47 273 316 31 389 378 35 28 37 242 239 29 304 23 24 296 29 229 237 260 26 24 272 27 27 220 288 289 271 SI 24 27 26 191 196 21 230 24 22 237 23 167 190 237 19 244 22 18 22 176 198 224 216 24 27 25 24 113 114 116 124 10 10 10 10 113 137 199 160 14 10 17 19 , (000.000* 4 FAILURES BY BRANCHES OF TRADE. We Dun's Review the following statement United States by branches of trade for the month of November in each of the last three failures in the years: FAILURES BY BRANCHES OF BUSINESS. November. From Dun's Review. Manufacturer*. Iron, foundries and nails.. 1898. 1899. 1900. No. Liabilities. No. Liabilities. 9 No. Liabi'.itie:. 1 215,635 188,9u0 35.500 t 3 19.18ft 18 • • • 6 • Wool'ns.c'rp'ts&knitgoods Cottons, lace and hosiery.. 1 193,8*1 500,000 15 8 77,008 83,000 9 8 1 600 IiUmb'r,carp'nt'rs& coop'rs Clothing and millinery. Hats, gloves and furs Chemicals, drugs & paints Printing and engraving.. Milling and bakers 26 34 2 612,866 304,084 27,652 80 18 18 5 2 7 4 5 2 & 254,449 268,216 68,177 21.500 62,700 5,050 7.280 86." 50 12,-00 1.996,606 Total manufacturing... li 64261 16 59.39? lss.e- 6 8 >6.6>-9 431,766 123.8C6 1,: 83,601 e 77 96,620 12,000 1,264,923 193 3,883,166 204 2,98d,686 122 8,223,613 106 16V 26 & brick 103,434 11 649.29': 102 163 48 67 118 177 30 42 2,037.022 7 76 493,628 669.679 435.407 154,730 273,973 413.V66 100,244 1H9.837 243,854 246,4 4 18,900 85.640 34,946 610,610 790.F30 502,077 141.399 153.7C9 732,299 823 931 72,36 270,685 157,616 119,851 6w,67 8 105,178 21,000 510.839 646 36 3,846,108 1,214,114 632 24 8.977.051 40 7.506 358 910.793 850 Glass, earthenware 18 62 Leather, shoes & harness Liquors and tobacco l.OOl 7 . 1 388,886 904 314 24,02* 84,600 65,36? 10 . 12,800,816 886 8.046,848 778 8.110,475 B 27 6 5 i 1 7 racier a. Groceries, meats and flsh Hotels and restaurants. . . . 88 Clothing and furnishing. 48 . 30 Shoes, rubbers and trunks Furniture and crockery... Hardware, stoves & tools. 24 14 19 20 1 4 4 87 er« Brokers and transporters. 624,008 135.25K 957,160 279.17E 2,398,376 121,902 115,891 166^26 86,741 600 25,412 21,800 61 Sf' 28 16 28 32 4 5 49 31 24 21 22 83 9 6 5 65 909.811 Note.— Iron, woolens and cottons include all the branches of tnose manufactures; machinery includes implements and tools; lumber includes saw, planing, sash and door mills, carpenters and coopers; clothing includes millinery and furnishings; hats include furs and gloves; chemicals include drugs, fertilizers, paints and oils; printing and books include engraving and maps; milling includes baking; leather and shoes include makers of harness, saddlery, trunks and rubber goods; liquors include tobacco, wines, brewers and beer; glass includes earthenware, pottery, brick, lime and cement; groceries include meati and fish; hotels include restaurants; dry goods include carpets and curtains; furniture includes crockery; hardware includes stoves and tools; and jewelry Includes clocks and watches. Brokers include all real estate, note, insurance or produce dealers whose main business is not the handling of actual products, and transporters Include all except incorporated railway companies. [From our own correspondent.] London, Saturday, November The week has seen very great activity in the 24, 1900. American department. Up to the middle of last week the public in general had taken little part in the dealings, and there was very much more inclination to sell than to buy. Professional operators both bought and sold, of course; but those who had hell securities for a long time sold very much more freely than they bought, and the selling from Germany for many months past has been on an exceptionally great scale. Germany has been passing through a crisis, and as many of the securities held found a market only at home, those who were more or less embarrassed were forced to dispose of what could be sold freely and internationally. Eelling of American securities in [Vol. LXXI. there has been a good deal of buying. market fell off; but still the disposition favorable view of the future, and there buying. On Thursday the- is to take a very is a good deal of Upon the Continent the slow liquidation is still going on— in Germany, Belgium, Austria- Hungary, the Scandinavian countries, Russia and the Balkan States; but it is believed that all danger is now past. In Germany two or three mortgage companies have lost heavily and an official investigation is being instituted; but even they are not expected to be wound up, and with the exception of these two or three companies failures have been singularly few. Trade has undoubtedly received a check, though it is reported that during the past couple of weeks there is some recovery in moat industries. Iron and steel, however, are an exception. In those trades there is much over-production and depression. In Belgium, likewise, it is hoped that the worst is over, for French capitalists are buying Belgian securities on an enormous scale; and just as Germany has b>-en relieved by the free buying of American securities, Belgium is getting relief by the buying of French capitalists. In Austria Hungary the crisis is due much more to political than to economic causes, and an early recovery is hardly to be looked for. In the Scandinavian countries, Finland and the Baltic States it is likewise believed that the worst difficulties are over and in Russia the Finance Minister is giving relief and is supporting the market. The general impression now is with regard to all these countries that the slow liquidation will go on, and that there will not be very much improvement in business for some time to come. In France there is a vast accumulation of unemployed capital, but there is not very much activity in trade, and French capital is being invested abroad. It is singular that French In capitalists do not buy American securities to any extent. London, Berlin and Amsterdam there is at all times free dealing in the American department. In France American securities are exceedingly little held, and there seems no disposition as yet to buy on any considerable scale. Here at home trade continues fairly good, and there are strong hopes of decided improvement in the New Year. So far as the Stock Exchange is concerned there is very little doing in any department, except the American, although this week there has been some small buying of South African and West Australian mining shares. Money is very much easier all over Europe than at this time last year or the year before. On the Continent generally the subsidence of speculation and the liquidation that is going on sufficiently account for the falling off in the demand for banking accommodation. Here at home there is comparative ease, because it is now hoped that there will be little while ago it looked as no very strong demand for gold. if large shipments would have to be made to Paris, but fortunately rates rose here and French bankers began to buy sterling bills on a large scale. The impression now is that gold will not be shipped to Paris to any considerable extent during the closing year at all events. What may happen in the spring is more doubtful, for it is certain that the holding of sterling bills by French banks is on an unusually great It is also hoped that no gold will be shipped to New scale. ; take from showing the German „ 1 London, then- has been on an immense scale for many months past; but towards the end of last week the British public, and to some extent also the Continental public, entered the market, and A York. the Bank of England is taking measures to protect reserve and is being supported by the other banks. The rate of discount is very nearly up to the Bank rate, and it is hoped that the 4 per cent rate will be sufficient to protect the Bank reserve for the remainder of the year. In Paris money is very abundant and very easy, and there is much greater ease in Berlin than for some years past. Still, the Imperial Bank is keeping a close watch over the market; but there is no apprehension now of gold being shipped from London to Still, its Germany. Nothing is yet known as to whether the Russian Finance Minister will send gold to Paris and London; though it is still thought that' as he is unable to borrow, he will have to do so on a considerable scale; but the decisions of the Russian Government are wrapped in such obscurity that nobody is able to form any very definite opinion. The India Council sells its drafts well. It offered for tender on Wednesday 30 lacs and the applications exceeded 482 lacs. The whole amount offered was disposed of at about Is. 3 31 32d. per rupee. Later in the day a very small amount was sold by special contract at Is. 4d. per rupee. The following return shows the position of the Bank of England, the Bank rate of discount, the price of consols, &c. 1900. 81. 1899. Nov. Nov. S £ 29.144.165 8,180.1u7 36.M33.122 17.445,174 26.016.641 20.484,726 81.853,891 JlTOUlatlon Public deposits Xh or deposits iovernnient securities 22. 8«.800,790 8.18^,041 38.85B.88i 13,340,990 3l.261.HV8 Other securities 20412,6i6 Reserve of notes and coin 81,913,436 Join* bullion, both departm'tS 455-16 4S3-16 Prop, reserve to liabilities.. P.O. 6 percent. 4 Bank rate 8SH-16 108 15-18 ;onsols.2« peroent..:. 89»-l«d. *7^d. Mlver ...?... 172.t0*.000 162.8il.000 'leartng-Honse retunii Messrs. Pixley Nov. 22 Gold—The demand & 1898. Nov. 23 1897. Nov. 24. M J 26.761,960 6,344.573 86.6f0.536 10 029.640 26.778.9«4 23.016.0H3 82,977.063 26.871 596 7,791.346 8-< ,969.560 12.40', »16 27 814, -78 22.S24.072 32.39o.667 *911-lfl UH 4 110 7-16 8"«4, 188,748.000 3 113* '-*X* 18s.513.000 Abell write as follows under date of : for gold Is still sutliolent to absorb aU arrivals, including the half million due 26th inst. on behalf of the India CounThe withdrawals from the Bank total £276,000. of whloh £200,cil. 000 is for Enypt. Arrivals: Australia, £84,000; India, £63,000; Cape Town, £54,000; total, £201,000. Shipments: NIL . . December x : Silver—The market has moved In narrow limits. A few special orders lifted the price to 29iiisd., but in the absenoe of business we have since gradually fallen to 29''. «d., at wuioh we close dull. The prioe In India is Rs. 75*4 per 100 tolahs. Arrivals: New York, £189,O00; Australia, £3.000; total, £192.000. Shipments: Bombay, £119,000; Hong Kong, £34.670; total, £153,670. Mexican Dollars— These coin have been a weaker market than silver, and the difference is maintained at »| r d.— ifed. under bars. Arrivals: New York, £51,000. Shipments: Straits, £22,000; China, £28.500; total, £50,500. for bullion are reported as follows: Nov. Nov. 8ILVEB. Nov. Nov. 22 15. London Standard. 22 15. a d. d. a. Bar gold, fine oz. U. S. gold ooin...oz. Germ'n gold ooin.oz. Frenoh gold ooin.oz. Japanese yen oz. d. «. 77 11-a 77 76 6ia 76 76 6 76 76 6 76 76 6 76 11ia Bar silver, flne...oz. 29» ie 29n 19 6ia Do 2 mo. delivery 29ia 29u 16 Bar silver, contain'g 6 6 do 5 grs. gold.oz 30i 1e 303, 6 do 4 grs. gold.oz. 29^8 30 6 do 3 grs. gold.oz. 29i» 1( i9lS„ oz. 31'8 1-32 Cake sliver Mexican dollar s.oz. nom. 29% The following shows the imports of cereal produce into the United Kingdom during the twelve weeks of the new season compared with previous seasons IMPORTS. 1900. 1899. 1898 1897. Importsofwheat,owt.l9,32t>,700 15,425,900 14.175,400 15,802,800 Barley 6,591200 8,661,300 5,831,894 4,788,900 Oats 5,922,200 4,837,600 3,769,670 3,454,420 Peas 904,000 566,300 747,400 717,630 Beans 441,000 577,190 568,740 950,860 Indian Corn 11,636,600 14,452,900 10,757,400 10,364,100 Flour 5,109,800 4,547,530 3,780,200 5,485,800 Supplies available for consumption (exclusive of stocks on September 1): 1899 1900 1898 1897. Wheat Imported, owt.19,326,700 15,425,900 14,175,400 Imports of flour 5,485,800 Sales of home-grown. 6,285,893 5,109,800 8,376,460 4,547,530 8,087,399 15,802.8<1 3,780,200 8,180,610 The following is a statement of the exports (exclusive of from the port of New York to foreign ports for the week ending Dec. 3, and from January 1 to date. EXPORTS FROM NEW YORK FOR THE WEEK. 1900. For the week.. Prev. reported 28,912,160 26,810,329 Id. 4d. 28s. Id. 26s. lOd. 26s. 26s. Wheat. Flour, equal to qrs... Maize qrs... 300,000 635,000 Last week. 1,690,000 365,000 680,000 1899. 1,555,000 370,000 1,140,000 Sat. Mon. Tues. Wed. $5,905,578 422,038,094 33s. 33s. 1898. 1,280,000 350,000 730,000 TKurs. & & Week. Glreat Britain ©orarojetxtat and 2$MscjeIlatrje0tts Hews Total 1900. Total 1899. Total 1898. $2,000 547,483.724 44,248 26,034,6lt> 29,000 9,511,3*4 West Indies Mexico South America all Week. Great Britain France 923 Week. 328,882 SineeJan.l. $64,988 2,595 2,628 589,933 2,588,258 903,638 200,282 $3,462 53,521 14,747 72,864 19,483 other countries, Total 1900. Total 1899. Total 1898. 8946,113 $43,331,387 1,1*54.931 1,096,097 $1,206,090 6,222,417 $8,233,671 $7,258,886 $7,428,507 $105,621,132 387,811,115 $95,010,130 378,379,485 1. $84,657,960 $112,521,346 309,277,154 336,192,207 Total 48 weeks $493,432,247 $473,339,615 $393,935,114 $448,713,553 $1,352,322 3,643,022 2,539,444 RECEIPTS AND DISBURSEMENTS (000 omitted.) 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P.O. os o fj <P o <;«« o O03 CO 03X R»x — rH -hi pa Eh 05(0 — rH cb : r^ 03O txj P5* o DO — OCO too -co COCO *033 • »a 03 00 fe •a e» w — OX o & b 3 Ho ga «a wo> Oco OOO a 10 — fc.2 CB ej PH 4) oSflS OS I 0, CO coco 00 t03 010 — woo — WW OO wo XCOOOS — Hr 03 «-t csootn coco COW w CSOOIOO — 03 O3C0COXO3CO — CO — wot- — 03 co to w — — w CO — .* coco — coo c— lOOOCOO 03CC 0) rn 00 — 03 <o 10 CO COcBcfjCBCOCO NOW 4t— —O CO to rJOMHSO o> CO CO CB — CO 00 100 0»rH 10 10 2l . — COO coco CBO t-w « CO 0> I WO WOO COO OCO toottooi- o> so CO — T*^i .p* — 00C- CO to COCO.* CO CO t- CO } ° CO 33 CO 10 o>f c-o 0)00 10 03 CO rH coo — wc^co OCO CO 03 03 IO — OSO O — w — w J5 lOOt-t-OCB COO W —CO CO r-cot-t-coo t05 CO t- 00 ow w rH w oo«o ^- 03 CO ccco t~ i-t OH-r"»l«J. ooc-omD-co t. W — CO coco W C0 1O — W O 03 03 «5 COOS w Oco —* 03CT3 03 1» 33 03 COCO COCO J^ Ct 0) 01 I 1 wox 0)00 20 l01 rH — coco COO CB l» O CO X I* J» WIOOCOXO CO O W 03 CD CD LCOCO t- — CO — — w t ow- CB f es CO o> ® SOS ** — 0» * «OL* w OOCO CO * OC9IO 1 j^jOt-O Si e — tONCJ t-COCO —« a 3 o CO wc- r. O S3 1- DC. cr. m — 01 co tw w — wo o» 000 OC& CO w ^ — — 0. 01 1° — 010 — «w •0 —— — *> " W «5 —'icTw"00 CO w CB O r—— — w CO ». 01 W 00 00UUXO** CO OOflOJl 00 rH 00 w w — S3 — — CO C3C9CO... — O O t-CO«503Xt- O COO»WO»£- — <o —— — 100 coco 10 — W 10 03 COCOO ©•» — KJ — W CO 0)COCOC»03f CB eacoio CO — —— — 10 0— oo«» — — niosxo w cooiwcoeo 10 CO co coo — — 03 ocoor-ooo — W051OX wco O — co — ooostrj 05 osooo oieo O — w w c» wocor- — 00 W OCOWiO 03 r- 01 1- 03 oico 030 w O W O — — w 00 03X33 —O t- CO CO 10 CO CD — COO locticeio w w tH N 49, 1* o» tt- wo tWcOO 1 00 w « t-CO a & ,8 i-ceo CO CO 03 CO CO — iHOl wmcccocoo 03 030 — co e» pH —I W ..QXO^CO w CO «• 50 00 01 >. — 00 cja r-e«co o>coc- f* WCT CO »l-OH»a OOO ^ 0> o^o a 0101 w »=S A&.CO OCO w 33 — coo OS g —IfH 10 lOSH — OOO) » Biono ID 09 S 03 t-O 3) * —O eeoo COWO oernOr- coco — — w V^O 00 xoc 05 $ unoN CO * — COM 00 m . WCOOQOOG 1 OD —O w t-O ' Opi-1 ce« » 03 Q)« w «* J 0*0 «• ooco « CO . •g ft CM «&0 *>CV >< ^j 1 1 O C5f*OHO w * OJ 0) =0' $1,452,151 5,806,735 40,4041 GOVERNMENT REVENUE AND EXPENDITURES. — Through Ch© 1897. $1,726,446 6.507,225 $71,730 49,254 42,627, 15 i 43,57^,507 oourtesy of the Secretary of the Treasury, we are enabled t3 place before our readers to-day the details of Government receipts and disbursemerts for the month of November. From previous returns we obtain the figures for previous months aad in that manner complete the statement for the eleven months of the calendar years 1900 and 1899. For statement of October, 1900, nee Chronicle, Nov. 10, 1900, page 947; for that of November. 1899, sue Dec. 16, 1899, page 1231. S « 812 621,535 Gen'l mer'dise SineeJan.l. 5,431 X Since Jan. I $945,190 $47,209,205 695,522 West Indies Mexioo South America FOREIGN IMPORTS. Dry Goods $45,693 $10,527,347 41,592 14,011,598 155,624 96,629,311 Imports. Germany s 81,849,517 10,772,018 1. $3,461,544 1,870,650 3,785,508 481,555 268,809 553,216 106,065 $33,092 4.118 8,483 Exports. ; Qen'l mer'dise Since Jan. Silver. * — Dry Goods Week. SineeJan.l, other countries Germany Imports and Exports for the Week. The following are the imports at New York for the week ending for dry goods Nov. 29 and for the week ending for general merchandise Nov. 30 also totals since beginning first week January. 1898. Imports. $19,029,720 17,664,481 4,502,989 2,001,914 $2,000 115,365 3,989,055 180,200 France 1 1899. $11,448,027 $10,357,740 434,831,804 381,106,263 weeks $537,865,523 $427,943,672 $446,279,831 $391,464,003 Fri. 2913 l6 29'3 16 29i3, e 29% Silver, per ounce 29% d. x97» 16 973b 976,6 976, 6 Consols. , new, 2 % p. ots. 93 97% 9838 x97-&„. 975s 979 ie 97Hi6 97% For aooount 101-40 0r57*a 101-45 101-55 0147% 101-50 Fr'oh rentes (in Paris) fr. 6938 69 68% 68% Spanish 4s 69% 693e 10*8 10*8 10% Anaoonda Mining 9% 9% 9 78 4134 4038 41 395g 40% Atoh. Top. & Santa Fe.. 39% 86I4 85'8 8689 8514 86 7a 85 7s Preferred 8414 83*8 826g 82 81% Baltimore & Ohio 83% 87ia 88 8a*fl 88% Preferred 87»s 87% 87 'e 8834 87') 88% 89 Canadian Pacific 89% 39*8 ;38«8 3938 38% 38 7e 38% Chesapeake* Ohio.... 7 13068 131 130»8 131 Chic. Mil. & St. Paul... 131 8 1303s 25 7s 26 26*8 25% 26 Den. Rio Gr., com.... 26*4 81*4 81*4 81 8138 81% 83 Do do Preferred. 15 14 1469 15*8 1658 17 Erie, common 145a 41 *« 44 7e 42 425s 42m 463s 1st preferred 21?8 2118 21»8 i6% 213s 23% 2d preferred 128*2 128*4 128 *4 128 127% 128 Illinois Central ...; 84'8 8e *8 85 7e 85% Louisville & Nashville.. 86 78 855s 1278 13% 13% 13 78 Mo. Kan. & Tex., com.. 13% 133s 3914 38 7s 38% 39*4 39% 39% Preferred 147 146 147 147 146% N. Y. Cent'l <fe Hudson.. 147 2538 26 25% 25 78 26 8. Y. Ontario & West'n 26 4358 43 43 78 44 43% Norfolk & Western 433s 83 83% 84 83% 84% Do do pref. 83*3 7358 7*68 71% 73% Northern Pacific, com.. 73 78 723a 8538 84 85 84% 86 >4 84% Preferred 73i4 7di4 73** 73*4 73% Pennsylvania... 73% 10i4 ioie 10 10 34 10% 10^ *Phila. ARead 3238 32&8 32% 33 32 88 32% •Phlla. & Read.,lst pref I6I4 I6I4 16 16% Ready 2d pref. 161*3 •Phila. 161s 42i4 44*4 42 58 43 *a 42% Southern Pacific 433a I8I4 1838 18 78 18% 18% 18% Sonth'n Railway, com. 6814 6884 69*8 69 3g 69% Preferred 695a 735g 72% 74»8 75*8 74 *4 Union Paoiflc 73 78 83i4 84 8414 Preferred 83% 84% 841a 23 2158 21 7s 23 Wabash, preferred 21?8 215s 38ia 40 40% Deb. "B" 38 78 38% 38% * Price per shar* 1900. 1897. Exports. lid 2d 29iii 6 For week. 1898. 27.763 610 English Financial markets— Per Cable. The daily closing quotations for securities, etc., at London are reported by cable as follows for the week ending Dec. 7. London. $7,171,130 530,694,393 Gold. The following shows the quantities of wheat, flour and maize afloat to the United Kingdom: This week. qrs ..1,690,000 1899. The following table shows the exports and imports of specie at the port of New York for the week ending Dec. 1 and since January 1, 1900, and for the corresponding periods in 1899 and 1898. EXPORTS AND IMPORTS OF SPECIE AT NEW YORK. all Total 31,098,393 Aver. price wheat, week 27s. Id. Average prioe, season. 28s. 2d. 1151 specie) Total 48 Gold. London Standard. —" THE CHRONICLE. 8, 1900.] The quotations w 1 ' T3T3 CB CB at oq *3 *< S0 53 S5 • Deducted from February, "Miscellaneous" 1900 .,, 04 g jg^ 79 J ) Received on account Central Pacific indebtedness " Miscellaneous" 1899 ) t Deducted from March, 11,798,314 14 " "' Received on account of Central Pacific Indebtedness t Including payment of $20,000,000 Treaty obligation with Spain. i . . 1 THE CHRONICLE. 1152 To make the figures conform to the Government statement, the amount mentioned in above foot-note should be added to the Receipts as indicated therein. We have deducted this item, as it does not belong to the regular income account, and if included would disturb the comparison with former and future vears. [Vol. LXXI. Reports of Non Member Banks.—The following is the statement of condition of the non-member banks for the week ending Dec. 1, based on averages of the daily result. We omit two civhers '00 ) in ail cases. BANKS. Copt- (00s omitted.) tal. Sur- Loans A plus. ments. Treasury Currency Holdings.—The following compila. tion, based on official Government statements, indicates the N*w York currency holdings of the Treasury on the first of Sep tember, October. November and December, 1900. For statement for corresponding dates last year see Chronicle of December 16, 1899, .page 1231. TREASURY NET HOLDINGS. Oct. 1, '00. Sept. l.'OO. Holdings in Sub-Treasuries— t 218.263.969 Ret gold coin and bullion Netsilver coin and bullion 12,787,996 Net U. 8. Treasury notes Netlegal-tender notes. Net national bank notes Net fractional $ 280,131,162 7,199,367 113,812 497.W49 26,1«4,045 9,6 ;6.802 7,706,188 20,354,';02 , silver Cash in Sub-Treasuries Amount in national banks 9,079,799 6.56H.655 Nov. 1900. Dec. 1.1900 t $ 242,670,175 243,2*5,735 8.69.1,400 6,837,195 b6.670 84,540 11,321.6.-7 ll,60f,955 5,843,130 6.318,390 6,482.886 6,641,098 1, Citt. Borough of Manhattan, Colonial.. Columbia Eleventh Ward.... Fourteenth Street. Gansevoort Hamilton Mount Morris Mutual Nineteenth Ward. Plaza Riverside State Twelfth Ward Twenty-third W'd. Union Square Yorkville 276,096,347 96,064,261 273.447,397 96,997,212 273,157,363 96,478,145 274,163,468 95,4U9,u55 Invest- Washington % 100,0 300,0 100,0 100,0 200,0 200,0 250,0 200,u 100,U 100,0 100,0 100,0 200,0 100,0 200,0 100,0 100,0 119,9 192,5 126,2 62,6 20,5 109,3 61,9 131,7 53,4 171,7 137,6 213,1 52,3 68,0 362,8 201.3 22,3 160,0 100,0 300,0 100,0 100,0 150,0 252,0 500,0 100,0 100,0 300,0 300,0 100,0 100,0 100,0 100,0 200,0 100,0 100,0 100,0 120,2 163,6 160,3 43,4 61,6 69,2 490,6 380,7 205,2 14.3 621,1 567,8 121,1 134,6 62,8 77,1 224,0 53,4 69,7 44,7 1089,2 1891.7 1815,6 356,7 604,6 672,6 2684.9 2814.8 946,1 446,6 3833,0 2601,0 971,1 882,5 628,5 482,4 1096,2 472,9 679.8 727,9 25,0 100,0 60,0 84,8 400,0 250,0 250,0 200,0 110,0 125,0 816,0 657,2 342,4 231,1 455,7 102,4 I 1495,2 1952,0 1114,0 1215,6 700,7 1292,6 2258,6 1296.6 1288,7 2262,0 933 8 3102.0 1193,6 1024.3 2159.4 1506,0 444,3 Leg. T Deposit, with Net Specie. JcB'k. Clear'g Other Deposits Notes Agent. Bks.Ac • $ 29,7 130,0 50,1 68,9 t 8.1 108,4 144,0 108.0 193,0 46,2 194,8 65,0 216,0 61,9 42,3 129,4 137,4 101,5 241,8 122.9 195,4 1301 198,0 108,( 196.5 48,1 59,3 132,0 77,0 174,2 78 6 108,4 130,9 249,0 224,7 120,7 82,0 22,1 32,5 83,9 H8.9 40.9 26,3 145.0 14,7 265,0 27,6 41,6 60,1 48,4 9,7 Borough of 1 I 1540,0 2036,0 1268,4 1492,2 49,4 694,2 1467,8 51,3 2820,9 60,2 1404,0 60,0 80,0 1731,8' 2467,8 906,3 231,0 3554,0 72.0 1696,1 13,8 1190.0 2616,5 10,0 1489,7 12,0 402,9 Brooklyn. Cash in banks* sub-treas.. 371.159.608 Deduct current liabilities*.... 85,739,912 370,444,609 82,289,731 369,PS6.498 82,680,466 285.419,696 288,204.878 287.006,032 150,000,000 160,000,000 160,000,000 Gold reserve fund 369,592,513 80,416,722 289,176,791 150,000,000 Available 135.419,696 138,204,878 137,005,082 139,176.791 cash balance » 'Chiefly disbursing officers' balances." Bedford Broadway Brooklyn Eighth Ward. Fifth Avenue Kings County Manufact'rs' Nat'l. Mechanics Mech's' — New York City Clearing House Banks. Statement of oondition for the week ending Dec. 1, based on average of daily results. We omit two ciphers (00) in all cases. BANKS Bank Manhattan Co.. Merchants' Mechanics* America Phenlx City Chemical Merchants' Ex.. Gallatin Butoh.A Drov's' Mech.A Traders' Greenwich Leather M'f'rs.. Seventh State of N. Y.... American Exch Commerce Broadway Mercantile 2,000,0 2,050,0 2,000,0 2,000,0 1,500,0 1,000,0 10,000,0 300,0 600,0 1,000,0 300,0 400,0 200,0 600,0 300,0 1,200,0 5,000,0 10,000,0 1,000,0 1,000,0 422,7 Pacific Republic 1,500,0 Chatham 450,0 200,0 People's North America.. Hanover , Irving , Citizens' Nassau Market & Fulton Shoe & Leather. Corn Exchange.. Continental Oriental Imp't'rs'A Trad. Park East River Fourth Central Second Ninth First N.Y.Nat'lExoh. Bowery N. Y. County.... German A meri.. Ohase Fifth Avenue... German Exch... Germ aula Lincoln Garfield Fifth Bank of Metrop. West Side Seaboard Western 1st Nat., B'klyn. Liberty N. Y. Prod. Ex.. NewAmsterdam Astor Hide A Leather. 8pecie Legals. 1,000,0 3,000,0 600,0 600,0 500,0 900,0 1,000,0 1,400,0 1,000,0 300,0 1,500,0 2,000,0 250,0 3,000,0 1,000,0 300,0 750,0 600,0 300,0 250,0 200,0 750,0 1,000,0 100,0 200,0 200,0 300,0 200,0 200,0 300,0 200,0 500,0 2,100,0 300,0 500,0 1,000,0 250,0 350,0 500,0 Be- Deposits strvt P.O. $ $ N. Y... of Loans. $ Capital. Surplus, 14,265,0 2,816,0 18,762,0 3,603,0 12,713,7 2,573,8 12,486,0 2,257,0 20,217,3 3,687,1 222,6 4,850,0 1,164,0 6,801,6 110,672,6 32,182,2 6,849,6 24,621,8 6,601,1 4,825,1 785,7 209,3 8,486,3 788,7 1,896,1 926,2 272,8 88,4 2,218,0 260,0 117,9 182,2 950,4 103,1 4,244,8 1,412,6 477,3 3,245,5 216,0 871,6 568,1 4,278,3 386,7 2,964.0 28,815,0 4,236,0 6,802,8 60,389,3 6,739.6 1,575,8 6,042,9 1,213,6 1,191,8 13,181,5 2,369.3 2,527,7 484,4 430,3 1,060,6 18,902,9 4,630,8 5,925,1 761,1 996,9 240,2 2,053,8 334,3 670,0 11,396,1 2,561,3 5,070,2 43,386.1 8,558,5 4,266,0 434,5 560,3 2,786,1 680.8 882,1 2,687,9 264,4 284,0 6,775,6 1,177,1 1,008,7 3,693,1 200,6 742,0 1,771,4 19,174,0 3,170,0 4,390,7 637,6 608,3 1,981,4 191,0 401,1 5,967,4 24,069,0 4,603,0 3,380,7 44,787,0 12,661,0 1,219,0 186,2 165,6 2,285,5 22,695,2 8,641,2 9,601,0 2,108,0 518,4 8,413,0 1.702,0 814,3 2,478.4 720,4 161,8 89,010,2 8,160,8 9,114,3 2,932,9 101,0 458,7 3,120,0 497,0 714,2 3,151,1 378,4 678,2 3,497,4 343,8 616,6 2,000,8 37.161,7 9,700,0 8,601,1 1,878,3 1,811,8 2,435,7 639,0 212,0 3,073,0 404,2 830,0 909,6 10,631,2 2,696,8 6,551,9 1,624,2 1,062,9 2,lf'0,4 401,1 344,0 6,480,1 1,242,5 992,6 2,742,0 409,1 398,0 743,6 13,523,0 2,882,0 1,687,4 34,209,0 7,916,1 3,972,0 623,0 622,4 6,610,6 1,197,2 649,5 3,878,8 411,0 633,9 4,898,0 731,4 416,9 4,052,7 835,7 252,3 2,719,0 468,0 306,3 2,074,1 2,110,6 1,069,1 2,184,9 2,916,4 1,033,0 14,228,0 27 1,999,0 21,312,0 262 1,498,0 14,997,5 271 608,0 12,642,0 22-8 1,593,7 22,394,7 23-5 4,923,0 26'4 187,0 4,175,6 128,686,2 28-2 2,013,6 25,263,6 29-7 524,5 5,315,3 24-6 836,2 6,683,2 24-3 65,8 1,056,» 81-9 184,0 2,436,0 18-2 2C2.4 918,9 332 192,6 4,641,9 34-5 452,8 4,147,7 198 165,2 3,223,8 17-1 1,244,0 22,335,0 246 6,132,2 47,641,5 24-8 312,8 5,304,9 28-7 1,582,6 14,020,6 28-1 554,7 3,444,9 285 855.1 21,064,6 26*0 903,3 6,040,1 278 583,4 2,894,7 28-4 884,3 12,487,1 27-6 4,011,2 48,443,9 27-0 455,8 4,363,0 23-2 209,8 3,082,6 288 325,2 3,114,3 18*9 750,1 7,068,5 27-2 250,8 3,924,5 252 2,3^7,0 22,490,0 24'4 520,9 6,036,9 22-9 404,0 2,036,0 29-2 804,0 22,166,0 24-3 3,159,0 66,217,0 27-9 218,9 1,426,3 28-3 1,686,8 23,112,1 28-0 1,133,0 12,146,0 26*6 860,0 9,404,0 27-2 232,2 3,027,1 31-4 1,723,8 39,253,9 25-1 336,2 3,088,8 25-7 852,0 3,536,0 24'0 339,1 4,033,2 252 246,4 3,416,1 252 1,894,4 44,853,7 25-8 619,2 9,614,1 25-2 890,0 3,300,6 333 458,8 4,384,5 19-7 788,4 12,710,1 274 837,1 7,506,3 247 173,6 2,271,6 253 483,1 6,852,5 25-1 384,0 3,126,0 250 1.113,0 16,274,0 24-5 2,331,8 40,607,4 252 761,0 4,353,0 29 2 425,0 6,631,2 24-4 309,0 8,689,7 25-6 920,8 5,902,3 27-9 182,3 4,211,7 229 82,0 2,066,0 26-6 New York member Nov. * City, 10.. 17. Boa.* Nov. 17.. " Deo. 24.. 1.. Phlla.* Nov. 17.. Boston Seventeenth Ward Sprague National Twenty-sixth W'd. . Union Wallabout Borough of Richmond. Bank of Staten If 1 lstNat.,Staten Itl 106,9 206.3 100,0 6,5 1.0 11,8 1167,1 1606,7 1220,4 304,8 542.4 679,0 3095,7 2969,7 1097,8 398.1 3929,0 2831,0 921,1 871,8 611,5 452,0 925,0 477,1 545,8 711,6 30. ( 23.) 306,5 100,6 13,0 21,8 41,4 146,2 104,2 69,4 41,7 246,0 269,0 58.6 46.9 27,8 44,6 10,0 18,8 43.6 12,6 94,4 42,8 53.6 86,4 357,6 165,0 86,6 2 „ '8 470,t 374,0 33,8 42,0 60,1 59,9 168,3 68,3 77,3 47,0 562,2 721,8 14.6 33,8 25,4 20,0 87,4 106,6 29,6 649.0 709,6 5091.6 1960,6 1221,7 917,3 2128,0 894,1 249,3 84,6 255.2 1195,9 78,6 266.7 20,9 236,4 49,4 121,9 12,0 106,5 83,7 72,4 817,0 187,7 6893,2 1876,3 1047,8 914,7 1746,0 864,2 154 8 15,8 6,4 146,0 146,0 12,8 30,9 12,5 8,7 28,8 131,9 30,0 61,0 46,6 34,2 28,0 46,0 10,8 2,8 6,6 31,6 Other Cities. 1st Nat., Jer. City. J.O. JdNat., Jer. City.. Hud. Co. Nat., 8dNat., Jer. City.. 1st Nat., Hoboken. 2d Nat., Hoboken. 74.9 43,6 101,9 44,9 26,0 63.6 18,6 Totals Dee. 1.. 7362,0 8401,9 63231,6 2874.6 8735.47230,9 2286,668722,5 Totals Nov. 24.. 7362,0 8401,9 62899,3 2922,7 3666,27188,7 2248,4 87928,8 Totals Nov. 17.. 7362,0 8401,9 62292,0 2801,8 3734.8 6814.0 2154,7 67113,4 1 Auction Sales.— By Messrs. Adrian H. Muller Bonds. & Son Bonds. $15,000 Va Ir. O. & O. Oo.lst $1,000 42d St. Man. & St. N. 35i8 5s, 1949 Ave. RR. 2d incomes 99 $1,000 42d St. Man. & St. N. Stocks. Ave. Rv. Co. 1st 6s. 1910.. 1155s 100 Hav.-Am. Co., pref 68 $12,000 Kan. City El. Ry.Co. 100 N.-W. El. RR. of Chicago 48, 1922, guaranteed 89 temp. com. stk. tr. cert. 26 $1,500 Hudson & River Falls 562 Batopilas MiningCo.$l persh. RR. 1st 88, 1908. J&J ...121 100 Va. Iro n Coal & Coke Co. 5 % $2,000 Corrlgan St. Ry.Co.of 4 Nor. & N.Br Hosiery Co. 37 Kan. City, 1st 5s. *lt$, J-J.. 1065s 2 Sav. Invest. & Tr. Co. of $2,000 Wis. Cen. RR. 1st 5a, E. Orange, N. J., 65 p.o. 106*2 1909. J&J paid in $U0 each 7534 $2,70u Newark Gas Co. 1st 1 Standard Oil Co. of N. J.811 14114 68.1944, Q-J IN. Y. Rubber Co 120 $1,000 Peru & La Salle Gas 100 Prod. Exc. Tr. Co.UlH-MOifl Co. 1st 68. 1928, F&A 60 162 Saginaw Steel SSCo.132-139 $1,000 N. Y. Rutherford & 1 Cert. Memb. N. Y. Prod. Sub.Gas Co. 1st 6s,'H,M-S. 105*4 Exc (all dues paid) 125 $2,000 Penn. Cen. Brew. Co. 4 Winchester Repeating 1st 6s. 19^7, A&O 90 Arms Co $800 per sh. Int. Silver Co. 1st 6s, $2,0( 8 5th Ave. Ry.Co. recelpt.$l lot 1948. J&D 95 28 L. Hend. & Bt.L.Ry pref 17 7s $3,700 Hudson Co. Gas Co. 18 Nat.Shoe &Leath. Bank. 103 1st 5s. 1949, M&N 10 Brearley Sohool, Ltd.... 90 102»s $1,150 St. P. Stillwater & 167 Col &ZeniaRR. guar. ..221 >« Taylor Falls RR.7s,'08,JJ.12O 6 Bank of America 475 $2,000 Perry RR. Co. 1st 7s, 1 Gai field Nat. Bank 1750 103^4 1902. J&D 2 Mechanics' Nat. Bank... 215 $25,00 U. S. Sugar Refinery 2 Nat. Bank of Commerce. 264 6s. 1921. J&D 1 Colonial Trust Co 823t 358 $1,000 Metropolitan Club 2d 3 MahODing Coal RR.. pf .120 5s, trust receipt 52 2 Old Dominion 8S Co 106 $2, SCO Lou. Hen. & St. L. Ry. 10 Guaranty Trust Co 655 98*8 1st 58, 1946, J4J 30 12th Ward Bank, N. Y...10O 61 Title Guar. & Tr. Co.416-417i« . gauMttfl atxd fftmrocial. Spencer *T & Loans. Specie. 9* ft $ 1563667 1688525 1647425 1668950 56,122,3 831,091,8 68,734,8'H39,670,1 60.388,6 851,391,3 60,073,4i864,410,9 57,682,9 187,259,0 13,633,0 57.G32.9 187.863.0 13.554,0 67,632,9 187,583,0 13,003,0 9,682,0 211,442,0 9,738.0 210.860,0 9,272,0 206,411,0 785,656,5 787,846,1 792,720,1 804,498,1 Legals. DepositsA Oirc'l'n. Clearings 9 $ 30,705,7 80,677.5 30,688.2 30,670,0 $ 10700944 15466H28 15895392 11698663 PINE STREET, Co., .... NEW YORK INVESTMENT SECURITIES. Members N. Y. Stock Exchange Branch GBORGB BAROLAY MOFFAT. Moffat 6,189,0 154,376,1 5,876,0 164.240.3 6,868,0 116,317,3 169,641,0 52.765,0 188,803,0 8,720,0 102,438.2 M 24. 88,716,8 160,269,0 38,715,3 62,834,0 189,886,0 8,753,0 105.987,6 Dec. 1.. 88.7 16.3 160^874,0 63,23l).0 191.094,0 8.735,0 90,087.8 • IWnxiir Hun clrnirra l,i .... then* ^ ... all Aourts. t Including for Boston and Philadelphia the Item " due to other banks." 39 Trask & BANKERS, Transact a general banking business-; act as Ficcal Agents for corporations, and negotiate security issues of railroads and other companies. Execute commission orders and deal In banks. Capital & Surplus. 164,332,6 164,332,6 " 24.. 164,332,6 Dec. 1.. 164,332,6 " People's Schermerhorn & Philadelphia Banks.— Below we furnish a summary of the weekly returns of the Clearing House Banks of New York City, Boston and Philadelphia The New York figures do not include results for the non- W Y Traders' 76,0 104,9 35,2 23,5 25,6 74,222,7 90,109,9 804,498,1 1668950 60,073,4 864,410,9 26 2 Total. Banks. & Merchants' Nassau National. National City North Side 13.0 23.0 68,7 10,9 27,4 Office. 67 State St.. Alb»c» ALEXANDER M. WHITB, JB & White BANKERS, ... NEW INVESTMENT SECURITIESMembers New York Stock Exchange, No. 1 NASSAU STREET, YORK. - . December THE CHRONICLE. 8, 1900.] Foreign %\mhtxs' (Samite. of Oompany. Oeni. Payable Railroads (Steam). & Santa Pe, & Alton R>/., pref I. & Pao. (quar.) Atch. Topeka Chicago Ohio. R. Chio & pref 2^ Feb. Jan. 1*4 Feb. l!fl Jan. 3 Jan. 2ia Jan. 4 Jan. 2 Jan. 2 Jan. 2 Jan. 2 West. Indiana (quar.)... Delaware Denver & Rio Grande, pref Gila Valley Globe & Northern.. Hooking Valley, pref Pennsylvania & Northwestern.. St. Louis & Bar Fran., 1st pref.. Street Railways. Chicago City Ry. (quar.) Menominee (Mich.) E.L.Ry.&P. South. Ohio Tract.. Cinn. (qu ).. South Side El., Chicago (quar.) Ranks. Bank of the Metropolis Trust Companies, I 3 2^ % % 6 Manufacturers', B'klyn (quar.) " " (extra).. N. Y. Life Insurance & Trust.... 2 2 20 Books closed. (Days inclusive.) 1 Jan. 11 10 Dec. 21 1 Dec. 29 " " Calamet " pref. (quar.). & Hecla Mining (quar.) Celluloid. Co. (quar.) " " (extra) Chi. Jo.Rys.&U.Stk.Yds.com. (q.) " " " " pf. (qu.) Chicago Telephone (quar.) Commercial Cable (quar.) " " (extra) Dominion Coal.. Ltd., pref Elec. Storage Battery, uref Equitable 111. GasL.,Phiia., pf.. Fisheries Company, pref Ha van a- A men can, pref. 3 3ifl (quar.) Maryland Coal, pref " " pref. (extra),... Milw. & Chic. Brew., Ltd., pref. N. Y. & East River Ferry (quar.) Pennsylvania Natural Gas Pittsb. Stove & Range, pref. (qu.) Quincy RR. Bridge Rubber Goods Mfg., oom. (qu.). pref. (qu.) Streets' Western Stable C. L., pf. " J% •' 1% 2 1 2 1% 58 1% Dec. Jan. Dec. Dec. Dec. Dec. Dec. Dec. Dec. to to to Feb. 1 Jan. 10 Jan. 6 to Jan. 15 December 3 1 16 Dec. 29 to Jan. 16 10 Holders of reo. Dec. 4 to 7 Dec. 23 Jan. 6 to Dec. 20 to Dec. Jan. to 2 1 Jan. Jan. Dec. to to to 1 1 9 2 Holders of reo. to IS Dec. 24 2 Dec. 23 to 2 Dec. 9 to 2 Dec. 9 to 28 Holders of reo. 31 Dec. 15 to 31 Dec. 15 to 2 Dec. 14 to to 2 Dec. 14 2 Dec. 27 to 2 Dec. 21 to 2 Dec. 21 to 1 Dec. 18 to 2 Dec. 21 to Dec. 15 Jan. 15 Jan. 2 Jan. Jan. Dec. Jan. Jan. Jan. Jan. Jan. Jan. Jan. Dec. 31 Jan. 1 15 Holders of rec. 1 Dec. 12 to 15 Dec. 12 to 31 Dec. 19 to 31 Dec. 19 to Dec. Jan. 1 Dec. 16 Jan. 1 Jan. 1 31 15 Dec. Dec. 16 6 to 8 1 20 Holders of rec. Dec. to Jan. to to to 3 1 Jan. 14 Dec. 16 Dec. 31 notably those of the Erie, Peoria & Eastern, Rio Grande and St. Jo. & Grand Island companies. This movement has been so absorbing that many recently active high-grade issues were neglected and heavy. Another feature of prominence has been extensive speculation, causing wide fluctuations in some of the industrial stocks. The two features mentioned have not materially interfered with a steady investment demand and all have contributed to make the security markets active and the volume of business large. No new conditions have entered into the general situation. The convening of Congress was scarcely noticed in "Wall Street. The President's Message and Secretary Gage's report were well received and had a tendency to strengthen the confident and hopeful feeling which prevailed. This feeling is also stimulated by reports of railway earnings and bank clearings, both of which reflect a state of general business activity considerably in excess of that of last year. The money market has been somewhat unsteady with a tendency to firmness, call loan rates running up temporarily as high as six per cent. The foreign exchange market has been unusually steady. The open market rates for call loans on the Stock Exchange during the week on stock and bond collaterals have ranged from 3 to 6 per cent. To-day's rates on call were 4 to 5% per cent. Prime commercial paper 4^ to 5 per cent. The Bank of England weekly statement on Thursday showed a decrease in bullion of £618,896 and the percentage of reserve to liabilities was 41-60, against 42'76 last week; the discount rate remains unchanged at 4 per cent. The Bank of France shows a decrease of 550,000 francs in gold and 2,075,000 francs in silver. The New York City Clearing-House banks, in their statejmentof Dec. 1 showed an increase in the reserve held of $1,842,300 and a surplus over the required reserve of ,$10,865,675, against $12,278,275 the previous week. issues, Den. & 1 1900. Dec. 1. Prime bankers' sterling bills on London. 4 82 ®4 82ifl 4 86 @4 86ia 4 81 94 81)4 Prime commercial Documentary commercial................ 4 80^4 82 5 lT^-aiev 5 20* ®5 20 Paris bankers' (francs) Circulation Net deposits Specie Legal tenders.... Reserve held Legal reserve Surplus reserve Kotb.—Returns 3915 1B ®40 945 e ®9438 Frankfort or Bremen (reiohmarks) b'kers * Less lie. The following were the rates 403, a '3>40 14 94i5 le ®95 exchange on of domestic Differen'8fr'm Prev. week, 1899. Dec. 2. 1898. Dec. 3. the under-mentioned cities to-day: Savannah, buying 3-16 discount, selling 1-16 discount; Charleston, buying 1-16 discount, selling 1-16 premium; New Orleans, bank, par; commercial, $1 00 discount Chicago, 20c. discount ; St. Louis, 15c. per $1,000 discount; San Francisco, 5c. per $100 premium. United States Bonds. Sales of Government bonds at the board include $43,000 2s, coup., at 105 to 105^; $3,500 3s, ; — coup., at 110; $2,500 4s, coup., 1907, at 116: $12,000 4s, coup., The 1925, at 13834 and $16,000 5s, coup., at 113 to 113%. following are the daily closing quotations; for yearly range see seventh page following. Dec. 1 Interest Periods. 2s, 2s, 3s, 3s, 3s, 1930 1930 1918 1918 Dec. Dec. Dec. Dec. Dec. 3. 4. 5 6 7. -Jan "1045s *1045p *10458 *104ia "1041s IO4I3 -Jan. *105is 1051* *l05i8 105 "105 105ifl *110 *110 -Feb. 110 "109% *109ifl reg. coup. mo reg. Feb. *110 110 *110 110 "109% 109ia Feb. *109i« "109i« Feb. "109^ *i09ia *i"09'4 •115 *115 *114% "114% 114% reg. -Jan. *115 4s, 1907 116 *115% "115% 115% eoup. Jan. "116 *116 4s, 1907 reg. Feb. *138!4 *138 *138is *138i4 *138i« "137% 4s, 1925 *138i4 lS8ie *138ie *138i* *138i« 137% •Feb. 48,1925 ooup. reg. •Feb. -II314 *113l4 *113l4 "11314 *113 "112% 5s, 1904 ooup. 58,1904 Feb. *113l4 113% 113% 113 '113 112% * This is the price bid at the morning board no sale was made. ooup. 1918, small. reg. 3s, 1918, small.. c'p. ; State and Railroad Bonds.— Sales of State bonds at the Board are limited to $35,000 Virginia 6s def trust receipts at 6 to 6% and $13,500 Virginia funded debt 2-3s at 93^ to 94. Railway bonds have been in request, and the market was generally firm throughout the week. Transactions at the Board averaged nearly $4,000,000 par value per day, in which a few low-priced bonds were conspicuous. Stock and Bond Sales. The following shows the volume of business in stocks and bonds on the New York Stock Exchange for the past week and since Jan. 1 » Sales at Jan. 1 to Dec. 7. Week end. Dec. 7. . — . — N. T. Stock Exch. Government bonds Statebonds — > , 1900. 1899. 1900. 1899. $77,000 48,000 25,687,500 1261,900 16.000 7,669,000 $6,334,310 2,005,200 489,431.800 19.818,840 1,940,700 788,871,400 125.812,500 87,935.900 $497,771,310 $800,624,940 RR. and misc. bonds.... Total Stocks— No. Shares 118,761.420 3,792.866 3.167,870 103,026,010 Par value 1365,838,825 1306,095,400 $11,483,535,7 12 115,804,934,150 Bank shares, par value. $145,026 ...... $328,675 We add the following record of the daily transactions: Week ending Railroad, dc. State Stocks. U. B. Dec. 7, 1900. Bonds. Shares. Bonds. Par value. Bonds ' Saturday Monday Tuesday Wednesday Thursday FridayTotal. The 393,188 667,161 650,165 716,904 761,443 604,014 $37,175,050 64.511,425 03,511.000 70,990.900 71.880,550 57,769,900 $365,838,825 ....3,792,865 sales $3,097,500 4,513.000 3.706,000 8.954,000 6.389,500 4,0*7,500 $25,687,500 - Bos ton. , Bond Listed Unlisted shares. shares. Monday Tuesday Wednesday Thursday Friday.. Total 11,606 16.889 18.202 13,804 17.0H4 16,826 38,724 19.810 19,043 15,142 sales. $73,085 81,770 108,075 63,285 53.U40 90,876 03,481 Saturday 600 $30,000 7.500 31,500 27,500 8,bb0 $48,000 $77,000 $20,000 on the Boston and Philadelphia Exchanges were 123,093 "477.O3O 12,205 22 502 « Philadelphia. Listed Unlisted Bond shares. shares. 18.921 15,950 19,251 25,041 26.P82 18.304 1,604 5,020 9.153 6,028 10,900 4,515 salts. $119,400 255,325 213,950 275,550 449,000 146,700 123,459 36,940 1,460,525 Railroad and Miscellaneous Stocks.— The stock market has been fairly active but irregular, with a tendency to weakness, and a considerable portion of the active list closes lower than last week. Low-priced railway stocks continue in demand. St. Jos. & Gr. Island 1st pref. was conspicuous for an advance of 11 points, Erie 1st and 2d pref. over 5 points. Denver & Rio Grande pref. advanced 2 points on an increase in the dividend rate from 4 to 5 per cent. Wabash preferred made a similar gain on an active de- mand. The market was weak to-day, and in many cases the advance noted has not been fully maintained. The 74,222,700 59,422,700 58,272,700 anthracite coal stocks were generally firm and local trac90,109,900 79,083,700 75,911,300 804.498,100 Ino .11778000 682,159,800 697,747,400 tion issues weak, Metropolitan Street Ry. losing 5% points. The industrial and miscellaneous stocks have been un30,670,000 Deo. 18,200 16,480,900 16,439,200 864,41 0,9001no. 13019600 748,078,000 789,525,800 usually active under speculative operations on a large scale. 166,895,000 Ino. 2,152,500 145,314,500 158,462,300 Nearly 120,000 shares of American Sugar Refining were 60,073,400 Dee. 310,200 50,241,700 56,017,100 traded in on Tuesday, and within the week this stock has 226,968,400 Inc. 1,842,300 195,556,200 214,479,400 points, closing with a net loss 216,102,725 Inc. 3,254,900 187,019,500 197,381,450 fluctuated over a range of 11 of 8% points. New York Air Brake covered a range of 8 to 10.865,675 Dec.1.412, 600 8,536,700 17,097,950 10 points. Tennessee Coal, Iron & Railway declined day by of separate bants appear on page 1152. day and closes 10% points lower than last week. $ Capital Surplus Loans &disc'nts Demand. Sixty days. 7. New York at WALL STREET, FRIDAY, DEC. 7, 1900.-5 P. M. The Money Market and Financial Situation. — One of the conspicuous features of the market this week has been the demand for low-priced securities and the advance in some Posted rates of leading bankers follow: 2 15 Jan. 1 Dec. 22 Jan. 1 Jan. 15 Jan. 6 134 Dec. 15 Dec. 9 1 Dec. 25 $3>fl Jan. 5 commercial, sixty days, 4 81@ @4 documentary commercial, sixty days, 4 80J^@4 82; grain for payment, 4 81%@4 82; cotton for payment, 4 80}4 @4 80%; cotton for acceptance, 4 81@4 81%. 1 Jan. 2 Dec. 23 2 Dec. 23 Jan. Dec. 10 Dec. 5 Jan. 3 Jan. 1% Jan. Jan. $20 Dec. 1% Dec. 1 Dec. 2 Jan. lh Jan. 3 Jan. 1% Jan. 1 Jan. 4 Jan. 6 Jan. exchange for foreign 4 813^; Dec. 1*3 Jan. market To-day's actual rates of exchange were as follows: Bank- Dec. 31 Dec. 16 Dec. 5 Dec. 1 Nov. 21 Dec. 31 Dec. 21 1% —The ers' sixty days' sterling, 4 cables, 4 85% 86; prime miscellaneous. Amer. Beet Sugar, pref. (quar.). Amer. Sheet Steel, pref. (quar.). American Snuff, pref Amer. Sugar Rfg., com. (quar.). Exchange. 81^@4 81%; demand,4 85@4 85i4; When Per 1153 has been steady to firm on a fair average volume of business, and rates are practically unchanged. DIVIDENDS. Name : % . . . . . , . . . . . » . THE CHRONICLE-STOCK PRICES (2 pages) Page Kew York Stock Exchange— A Daily, Weekly and Yearly 1154 l. ST00K8— HIGHEST AND LOWES': SALE PRIOBS. Saturday, Monday, Tuetday, Dec. 1. Dec. 3. Dec. 4. ai 52 •19 •61 •20 61 22 39% 83% 81<k 81 79% 86 85% 85% 72* 73* 71% •73 •77 78 •us iao 180 85% 187* 87', 4C% 40% 84 84* 68 38 S9J* 41% 4a 77 77* 139% 1365* 40% 84% 80% 86% 149% 150 37% 38% 40% 4'% •94 •57 78 130 86 58% 58% •102% 149 149% 37% 23 23 •20 53% 54 54 82% 78% 84% 69* 73 78 180 87 113 •85 36% 41 39 76% 34% 79 78 136% 136% 97% 97% 122 •38% 39 38% 38% 24 53 23 24 58 23 58 14% 91% 78 38% 23% 58 57% (58% 137% 138V 13P% 196% 126% 127% 126% 1175* 175% 176 178 §176* 176% 176% •167 163* 167% 168% •168 170 J16B* • •• - • 115*116* 115% 115% 114% 115% 114% iaa •120 123 120 12* 131 160 175 160 175 172% 172% 160 •120 10 30 10 30 •9 28% 68 468 (••*•• 113 29 •27 •66 114 29 68 •••••• 114 •26 •27 182 25% 78% 79* •16 •5 17% •13* 14 6* 14% 14% 40% 40% •20 91% 29 69 62 7% 7% 7* 43 142% 43% 43 182 25 24% 181% 9 181 175 27 66 39 69 6% 7 42% 48% 7% 7% 7% 38% 71% 133% 1124% 1255, 125 125 20% 90% 20% 20% 80% 46 47 146% 46% •46 17 17% 17% 13 13 39% 40% 72 72% *4 4* 17% •16 •85 •12 7 43 43% 4 4% 17% 16 35% 23 41% 81% 73 115 85 121 175 A DoTopeka A 88* 144 7% 8 ••••• mm 6% Do 87 A Pittsburg 145 Do pief. Burl. & Quinoy . . Bait. Illinois . pref. 134% 135% Chicago 98 ....... A Chicago 121% 121% Do 14% 14% Chicago Great Western. 91% 92 Do 4 p.o. debentures 77% 79 Do 6p.o.pref."A".. 38 89 Do 4 p.o. pref. "B*\. 23* 28% Chic Indianap. A LouiST.. 57 57 Do pref 125% 127* Ohioago Mllw. A St. Paul. 177% 178 Do pref. 46 17 18% •18 36 J 108 86 108 108 38 108 108 35 108 •65 84 75 65 75 •65 75 5,579 5,500 . 167 167 87 •82 97 66 •••••• ...... Do A L. St. . Do A 18 36 •4 •16 36 108 86 103 •210% .. . 70 70 ...... 6:% lOi 19 •51% 55 18% 18% m 105 17 48 189 142% 143 99% 17 19 56 51 51 IS* 13% 13k 37% 38% 37% 60 61% 59% 41 41% 49 60% 61* 40 •187 65% 65% 65% 100% 100% 65 38% 38 105 5105 184% 189 135 213 184 135 814 •911 25% 71% 82% 83% 71 60% 43 143 16% 99% 41% 43 69% 70% 81% 82% 101 18 53 1S% 12% 87 37% 59 60% •4 1 43 189 % 185 814 34% 41% 82 69% 71 % 61* 8a* Feb 8 Jan Jan 4* 4% * 81% 81 •81 178 7* 81% 178% . Do pref EH.W.A Den. O., stamped -T t. Worth A Bio Grande 800 8,352 V*r'nB.AW.,deb ofs. 8% .1* 8 * 38* 38% 71* 71* -Q Do 16 1,618 2,800 7.568 2,865 "A" pref. 985 435 46 48 19 46 19% 12* 12% 108* 108* 108 211 37* 108 •211 70 70 75 3,681 1,000 13 35 37 36 18* 70 A J ake Brie 1~* Do 800 690 400 Western. . . pref. Lake Sh. A Mloh. South. . 64% 65* 100 16* 50 . 105 100 18 51 65% Minneapolis A St. Louis.. •99* 101 2d pref. Do 65 •16* A S. 8. Marie. Do pref. 13* 13* Mo. Kansas A Texas ...,,, 18 52 •50 Minn. 13* 18% 38 38% 37% 38* 59% 60% 59* 59% 42 41% 48% •41 St. P. Do §134 311 •133 134 814 310 35% 43% 81% 81% 70% 71% 81% 83% 85 48 135 214 25% 41* 42 25 pref. 69* 70* 81* 82 >•*•• *•••• J'ne 80 75 J'ne 39 39 J'ne 30 Mar !307%Sep3« !215%Jan 1 10%Deo 20%Jan Deo 103%Auf 50%Jan 85*Aog 3 1 62 12 31 38 pref. pref. 58 60% 89% 8W% 89% 89% 67 69* 69 69% •67 •58 •88 •68 60 94 60 •58 •58 •88 •67 80 90 69 •58 85 87 •68 •84 •66 60 93 69 60 91 15%J'ly X 68 Do 1st Do 3d 800 pref pref 67 60 65 60 83 85% *85 85 * •63 55 Bid and asked »n«es 64 65 60 88 55 85 j 65 •55 89 aiaaek St A Fu) F— Stook lstmort 4s 1950... JAJ ATe— Stock. lstmor 5s 1904... JAD 'way A 7th Sdmor 5s 1914.... JAJ Con 6s 1943— Set Stook 'way Surf 1st 5s gu 1 934 2d 6s mt as rental. 1905 Oentral Orosstown— Stook M Cen Pk JAD 67 60 •88* 87% day. I 67 •55 67 60 37 103 840 105 118 35 100 333 1103 110 Kxch 104 1 1st. 117 105 130 300 106 Do 49%Sep A St. L. Do May 65,153 134%Sep l*8ep 4.700 5 J'ne 9,210 9,000 20 Jan 300 55%Jan pref. Plttsb. Oln. Ohio. 86* 88* 300 Prof. 210%Sep 183*Jan 186*Sep 185 Sep 35%Mar 56%Mai 64%Nov 27 Sep 8%Jan 56*Mar 21 25 Mar 28 10 6% Jan laSHApr 35 Jan 194*Oot 20 157 15%Deo Deo 18%Deo 3 Apr 7%Jan 10 Deo 87%Deo 15*Deo 36 Mar 6 6 63 26 5 9 6 7 7 16 8l%Apr Apr 80 83%Jan 8 Nov 17%Nov 16%Jan 43 Jan 83%J«n 46*Not 98*8ep 86 Jan Mar Mar 30 195 61* Jan oS^S 01 87%0ep 66%Sep 182 Jan 15%Aug 62%Au* Mar 16 5%Fob 22%Aug Dee Dec 84 85 208 Jan Apr 88%Oot 138%Apr 13 147 Deo 289 Mar 85 13* Aug 39%Nov 44*May 83 Not 17%Apj 6 Jan 5 31 18 17 110 28 10 24 24 6 17 16 2 6%8ep Jan 1 3 Jan Oot 116 35%Jan 78 73%Jan 8% J an Feb 89 9*Deo 38%Deo Aug 99%Not 37%May 78 May 14% Jan 45%Au« 53%Apr 68 Aug 1187 Not 10 139%Jan U38*Mfc 8 1198 Jan 1383 Apr 18% Jan 17%Mar 61%Jan 88%Mar »8%Aug 74*Aug 57UAOI 48%Jan Deo 81*Jan J'ne 68 Jan 68%J'ne 88 May 77%8«p 64 No7 68 83 Nov 80 8v%Dec 3 84*Apr 69*Oot 15 58*J'ly 144%Nov 19 122*Jan 4 May 1 1 Jan 12%Dec 6 4 May 3 3% Deo 7 68 Mar SI 31 43 May 29 80%Jan 8 18 80 10 28 28 19 29 63 90 Fes 148 Jan 68%Not 7%NOT 7%Nov J an 88 Feb iuu 80 ' (Given at foot of 7 consecutive pages).— SIREET Bid. Ask. Street Railways. AlOth St-8tock 175 185 ColA 9th Ave 5s-8ee Stock Bxohl 1st. ISO 135 Dry D B B A Bat— Stook. 1st gold 5s 1932... JAD 1116 FAA 101 Sorlp 5s 1914 Avenue— Stook... 890 105 Scrip 6s 1914 395 42d A Or St Fer— Stook.. 68 43d St Man A St N Ave. lstmort 8s 1910.. MAS 118 99 3d lnoorae 6i 1915. J AI Lex AvA Par F 5s-8«e 8tk Hioh . . 198 Railway. Bid. . 1st. aoi Onion By ne 101 1 Street 198 Seoond Avenue— Stook. 1st mort 5s 1909. .MAN {108 Consol. 5s, 1948.. .FAA 1118 Sixth Avenue— Stook..... 805 Sou Boulev 5s 1945.. JAJ nil So Fer 1st 5s 1919.. AAO {108 Third Avenue— See Stook Bxch 5s.l988 107 TaiTy 104* Tonkers St BB 6s 28th A 29th Sts 1st 5s.. '96 {118 Twenty-Third St— Stook. 400 JAJ 103 Deb 5s 1906 119 103 405 109 408 73 Blghth Ninth A venue— Stook. Sep Sep m.* K Less than 100 shares. Chrlst'p'r $114 1103 355 6s 1933 MAN tl85 N A B RtT— Stook '08 Oonsol7s 1903 Ask Bid. . 1st •65 55 no sales were made on this OUT8IDE 8ECURITIE8 street Railways. NBW YORK CITY, 65 60 88 88*Sep 57 141% 143% 143% 143% 141% 143% 142% 142% 14,% 143% 141% 143 •i% 2% 1% IN 1* 1% 1* 2* Peoria Deoatur A Evamv. a% 2 18% 10* lr* •8% 9% 10% 10% 12% 10 8% 9% 8% 83 33% S3 83% •81% 33% •31% 88 31% 31% •31* 82 •64 •55 May 179 173 4%8ep Dec 18% Dec 32 27 18%J'ne 30 46 l>aolnc Coast Co 52*Nov 138*Sep 42%Jan May 108 Dee 16% Jan 9 J'ly 87%J'ne 49%Dee li*Dee 5 Oct 83%Jan 10 pref., Tot. tr. otfs. 44%i3ep 19 Nov 94 fV.BB.AN.Co.TOt.tr.cfs. \J Do J'ne 7%Jan 16 86*Mar 88 45 Nov 21 640 67 Jan 8 88*Nov 19 74,867 45%Sep 89 74*Nov 81 15,465 67 Sep 87 86%Nov 80 80,100 14,250 Nor. Pao. By., TOt.tr. otfs. Do !183*Janl9 185% J'ne 85 11 3l%Dee 33 Dec 32 Jan 11 89* May 4 176 Jan 143%Dec 3 120 Deo 144%S4ar 17%Dec 7 ll%Dec .9%J*E 65 Mar 86 Oot 99 Dec 7 48%Dec 7 39 Dec 41 JSD 1430 J'ly 13 1360 Jan 1390 Mar 1400 May 16 50 1130 Jan 18 1136 N. Y. Ontario A Western. Do 33%May 1 9 4 • 41,009 7,890 300 9,550 N T. Laok. A Western..., N. T. New Haven A Hart 83 •81 Oct 14*Apr 400 24.540 68,470 27,660 143%Sep 26 182 Feb 24%Jan 29 37*Apr 76 Feb 87 84*Nov • • • • 1,490 10%Jan 8 14%Apr 5 Mar 426 8%Sep 26 80 1104 Jan 82 illS Feb 3,170 45%J'ne 18 69%Mar 330 87*J'ne 18 104*Nov 14 Sep 80 27 Apr 47 Nov 1 69 Apr 9 Sep 19 13*Dec 1,685 18,380 85%8ep 33 40%Apr 99,030 38% Jan 11 61% Apr 2,850 35 J'ne 35 48*Apr s Jan 1 94*Apr 19 70 Jan 17 Nov 22 14 Aug 14 Feb 15 J'ne i 25 Nov 26 144%J'ne 32 183 Nov 19 143%Jan 53%Mar 7 60 Dec 6 49*Jan £%Dec 8 5 May 5k Sep 24 30% J an 10 41*Apr 21 82 J'ly 58 Jan 8 72%Dec 3 53*Dec 110 J'ne 25 128%Nov 31 105*Deo ll%Jan 12 2i%Nov 18 10%Mar 40 Dec 89 Sep 27 58 Mar 30 7%Jan 10 Jan 2 20 N v 37 7 Sep 10 17% Apr 19 27*Sep 10 43%Apr 3 3 May 3%May 24 4 Nov 18 14%Oct 19 17%Mar 27 15 Mai 20*Mar 16 38*Ncv 10 14% J'ne 83%Feb 2 110 Oct 32 60 Jan 1197 Jan 3 830 Nov 1 198*Jan 47% J an 4 89 May 5 45 Dec 22 87%Apr 8 63 Mar 68% Sep 84 J'ne 25 114*Nov 22 85%Dec 74 • 16 / j.reat Northern, pref. . . 38% 89% 71% 72% 45 **» 99*May 70 1 12%May 3 29%Mar 21 4 5 5 < 184 189 •185* 189 140*141% ]\T Y. Central A Hudson.. 143* 143 143 IBM 15% 16 16% 16* 17% It T.Ohio. A St. Louts... •96 99* 98* 99* 99 99 Do 1st pref. 41% 41% 41* 43% 42% 46% Do 3d pref. •184 14 135 •133 814 ail 24% 25 24% 48 42% 41 81% 81% 88 81% 81% 70% 71% 83% 83 •80% 82 38 99% •17 •50 •133 •211 86% 35 43 43% 43% 12% 184% 186% 142% 143% 143 16% 16* 15% 16% •15% 96% •97 98 98 99% •40% 41 41 41% 41% •184 •>11 as 101 19 66 64% Oct 9 '5 106 64 21 • • * • • l 1,850 83% 81% 82% LouIstIUoA NashTllle.... 84% 83% 84* 82% 8i% 83% 82% 83 108% 109% 108*110% 107* 106% At anhattan BleT.,oonsol 108% 109% 108% 109% 108 109 171 171% 169% 171% 168% 170% 187* 169* 167 169% 165% 187 lUetropoUtan Street 80% S3 30 38 30 88 30 32 Met. West Side HI. (Ohio.) •30% 34 •30% 33 83 85 83* 85 •83 85 84 85 84 85 •84% 85 Do pref. 18 18 13% 13% IS 13% 13% 13% 13% 13v 13% 13k 8* 3% •3* 3% 3% 3% 3* 3% Mexican Nat'l tr. reots. »% 3% 3% •105 65 1101 •17 9 • •«• pref. rot. tr. otfs. Nov Dee 59 103 85 Feb 94 Nov 97 Jan 126%Nov 4 31 Jan 33 118 Dec 7 165 Dec 31 141%Jan 313 Dec 6 188 Jan 117*Nov23 100 Deo 136 Nov 17 91 Feb 175 ilar 3 170 Jan 18% Apr 37 7%Jan 39%Apr 87 31%Deo 7%Mar Sep 25 43 43 847 36 Sep 33 47%Mar 43 48 Do 1st pref. do 3 -.6 17% 17% •17* 18 14 Sep 34 20%Mar Do 2d pref. do 116*116% 1,638 l06*Bep 20 119%Mar 116 116 •181% 183 3,100 l7i%Sep 19 186 Feb 182 184% L'el. Laok. A Western. . 25% DenTer A Bio Grande. , . 26.930 16%Jan 10 26% Deo 25* 26% 95 9% 80* 47,372 64* J'ne 18 80* Deo 78% 80% Do pref. 17% Des Moines A Ft. Dodge. 400 13 J'ne 30 19 Mar 16% 16* 16 5% Dul. So. ShoreAAtl 100 6%Mar 5% 4 J'ne 12 •13 14 18% 14 •• • 18 J'ly 5 20%Nov Do pref. 16% 16% 7J,l» r 10*Sep 36 17 Dec 17 16* 44 45% 44* 45% £J Do 1st pref 118,441 30%Sep 32 45%Deo 23* 25* 25* 26* Do 2d pref. 32,236 15 Sep 34 29* Dec 41 41% TansT. A Terre Haute 300 38%Oot 9 54%Mar 41% 41% 7 30%Mar May 84%Mar 46%Dec 89 65 J'ne 19 68*Nov 38 570 103*J'ne 1 115 Oct 8 100 14* Jan 10 30 Nov 15 105 46 Jan 2 72 Apr 19 Wheeling.. pref. Do 9 J'ne 25 8*Oot 18 36*Oot 18 410 5,800 . Colorado Mid., rot.tr. otfs. 7* 15* Apr 9%Sep 85 300 pref. OleT. Lorain 42 68%Aug 18,388 102 100 110 100 172 67*J'ne 85*N0T 61 Deo 137 Apr ll 189 Nov 21 114%Dec 149*Feb Jan 31 109 Mar 27 59%Jan I00%8ep Jan 17 135 Aug 15 113%Jan 132%sep 600 195*May • OleT. Oln. Chic. 150%Deo 39%Dec Deo 8 77* Dec ! ••• Do pref. 114 114% Chloago Book Isl A Pao. •120 128 Ohio. 8t. P. Minn. A Om. •160 175 Do pref 10 * Ohio. Terminal Transfer.. «?. 29 29 Do pref. • 6 36 38 J'ne 19 92 Dec 32 79%Nov 30 J'ne 33 43 Mar 1,500 14 Jan 15 39 Apr 1,130 45%Jan 34 63%Apr 68,l 108%J'no 25 130 Nov 1,438 169% Jan 18 178 Deo 1,010 150%J'ne 25 170 Nov A North Western. Chicago 87 26 81 850 300 Apr 19%0 ct May 48%Oot May 24%Feb 50*Jan 6S*Aos 43%J'ne 6l*Apr 7 99%Feb IS 59%Nov 26 93 Feb 26 84%Scp 36 600 88 645 120 . Do pref 19* 17 anawhaA Michigan... 13% I* an. City So. i ot. tr.otfs. 36* 37 •35% 37 Do pref., Tot. tr. ctfs. 4% 4* •4 4% 4 •16 •16 17% 17* 17* Do pref 46 7 46 160 Highest, 14 36 17 41 85 Jan 18 120 No» 6,650 47%Feb ••••• 91%Feb 5,170 115 Jan 98,015 34 J'ne 45,066 31 Oct 18,736 68% Not 29,875 11 9* J an Capital Traotlon Central of Ne w Jersey . . . 38% 73% 71* 72% 124% 134 124% 125 125 '123* 124* ao% 80% 80% 20* 2J% 19% 19% 39 98 pref. 58% V-auada Southern 36% 37% 38 89* 76% 76* 7% 8 39 17kj 35 29 69 180k 179 179 59% 59% 59% 60 4% 16 §99 . Buffalo Boob. 23 16 Sep 18 40*J'ly 24 18% J an 8 prev- year (1899). Lowest. Deo 5 54*Deo 6 Nov 21 Nov 21 58% Jan 11 55%Jan 8 89%Apr 19 8,800 73%Jan 9 90 Apr 16 98,805 47*Sep 35 80*Apr 10 ••••• 53 Feb 37 80 Nov 17 . 10% 10% •27 100 ent* Highest. Lowest. 1,500 pref At oh, Santa Fe. 102,496 83* Do pref 148,11s 7fc% |>alt.40hio,Tot.tr.certfi. 25,591 78 120 Range for year 1900. On basis of loo-sh're lots Week Shares Railroad Stocks. 24 54 58 58% 24% 25 13 12 13 •4 120 160 • 40% 4C% 20% 21 40% 72% 72% .. 58 10% 7 43 17 18 117% 17% 17 18 115% 116 115% 115% 115% 116 •181 182 182 183 181 183 24% 25% 94% 25 34% 35k 79 79% 78* 79% 76% 7t% •16 17% •16% 17% 16% 17* •4% •** 5 5 5% 6% 13 14 •13 14% 13% 14% 14 14% 14% 15 14% 16% 40 85* • 41% 48% 4l 20% 29 21% 43k 41% 42% •41% 42% 41% 81 81% •81 81% •80% 81% U^% 14% 94 34 24% 180% 181% 179% 181% 180 182 •41« •80% •118 78 120 N. -Bano- e for LXil Eecord. | of the 3»% 82% 78* 84% 84% *-> Do pref. 69% 71% Brooklyn Rapid Transit. »'•* 146% 148 37% 37% 38% 40 40% 39 76% 76% 76% 186 135% 136% 97% 97* 97* 122% 121*121* 14% 14* 14% 91% 91* 91* 7t% 78% 78 38% 38% 38% 24 23% 23 58% 57% 58 128 137% 126% 176% 177% 177% 168% 16?* 168* 211*212 i* 114% 114*115% *••••• •••••* 7 117% 17% 5U«!i 116* 10 73 20 53 80 29% 29% 39% 89% •29 65% 66% 65% 66% 66* 66% 66% 6e% 114 114 118 114 •113 115 118% 113% 66% 67% 68* 67* 113 9 10 30 80 84% 85* 70% 73% 14«% 148 3'-% •77 24 6«% 38% 39% 83* 84% 58% 58 77 14% 91% 78% 3'% 84* 79% 85% 71% 38 76 136% 137% 135 97% 97% 122k 183 14% 14% 90% 91 Frutay, Dec. 7. Wednesday Thursday, Dec. 5. Dec. 6 40 76% 77% 97% 122% 14% 14% 14* 80% 90% 90% 38% 86 73% 73 •113 85% 85 93 isa* ia i% 78 39 85 70 73 78 98 •77 33 51% 53 36% 89% 83 83% 79% 79% 58% 53% 585* •103% 149% 150V •20 51 Sales 8TOCK8. Y. STOCK EXOH. [V ol. W PAM 1st 5s '42.FAA 113 Ask 201 109 180 335 115 list 109 107 114 410 106 RAIL WA VS, Street Railways. Westchest 1st 5s '43. .JAJ <&c Bid «106 BBOOKLYN. Allan. Ave., 5s 1909.AAO {107 Con 5s g 1981 ....AAO 114 Impt 5s— Set Stock Kxc h list. B. B. AW.B. 5s 1933 AAO 104 Ask 110 109 117 830 383 Brooklyn City—Stock Cons Bt—Se* 8tock Bxo hange list. BklynCrossln5i 1 9 08 J AJ 105 BkinHgtslst 5s 1941AAO 104 S'kynQ Co.A Sub—See 8t ok Kr. list. Bklyn Hap.Tran.— 8ee Sto ok Hi Lis' . . . . .. .... , . . Dec. THE CHKON1CLE —STOCK 8, 1900.] STOOK8-HIOHE8T AND LOWEST SALE PRICES. Saturday, Monday, Dec. 1. Dec. 19* ao 63* 64* 31* 31% 18* 80 83* 64* 31* 32 3. Tuesday, Wednesday Thursday, Dec. 4. Dec. 19* 19* 68* 64 SO* 31* 7* .2* 53* 53* 18 17* 19* •78* 77 46* 46* 15* 15% 37* 43* 17* 18* 87 48 67 68 19* 20* 113 115 68* 66* 94* *94* 94 31 8* 8 56 18* 1C* 18* 66* 19* 19* 17* 18* 1< 76 4B* 16* 45* 46* 18 18* 38* 39 41* 42* 17% 18* 66* 67% 20* 31* 18 •76 76 45* 15* 37* 42* 18* 67* 19* 42% 18% 68* 20* 113* 11494 113 67 143 587* 67 1143 34 US 145 9S* 96* 81 §7* 67* 81 •90 •85 •160 31 98 37 186 41* 43* 71* 71* 7* 7* 86 37* 1139 143 96 94% 20* 80* 67 67 31* 31* •90 92 7* 43 78 7% 37* 39* •5 5* •5 6 85 58 38 26 38 53* 61* 95* 37* 75* 40* 52% 96* 88* 96* 97* 88* B6& 76 76* 43* 4«* 86* 87 140 76 117 43* "48* J87* 87* 106 109 48* 49 •176 m 179 e* 117 195 70* 71* 8.* 81* 73* 81% 8* 9 21* 10* 53* 26* 33 10* 42* 43* 47* 16* 38% 1175 *8* 9* 15* 37* 40% 17* 06* 80* 43 18* 67% 21* 116* 113 71* 81* 9* 2»* 10* 9* 22* 10* 5«* 165 U* 34 35 140 150 1160 160 140 160 91 87 165 39* 40% •70 73 H 94* 21* 87% 30* 7 „ 28* 60* 62 86 71 a 51* 98* 27* 51 95 87 76 98 28 a 61* 63 96 37* 76* 48* 85* 85* 188% 125* 78 43 116* 118 118 98 41* 43 93 •98 117 95 95 41* 42* 140 47* 47* 175 1175 •8* •130 130 140 175 23* 76* 48* 86* 128* 117 98* 140 48* 48% •175 180 18* 9 8* •8* lit pref. 3d pref 800 5,850 6,473 5,983 34,148 61* 53* 127 •IBM 193* 85* Si* 90 49* 50* 51* 182 134 49% 51* 49* 60% 124 •ISO 180 9* 50* 51* •118 184 118 By 107,814 21,464 85,885 Wabaih pref. 32,9x0 22* Do 8,045 10* Wheeling * L. H., new . 870 64* litpref. Do 5,607 3794 Do 3d pref. 8,343 11* Wiicon. Central, new 803 38 Do pref. ...pref. . 98* •71 •95 •18 73 100 15 87* 87* 189% 89% 18* 19* •93 40 •78 36 05 40 73 36* •91* 93 61 •103 •30 167 19 70 •95 •13 74 100 15 8 40* 43* 100* 101* 18 •78 73 35* 36* 93* 92* 60* 61 16* 15 •5 8 30 34 164 164 18% 19* 6 7 48 49* 46* 100* 99* 101 50* 53* 49* 50* 85 85* •82* 84h 201 804 801 202* 16* 16 16* 16% 16% 65* 66* 65 65* 64* 65* 5* 73* 78 •18* 17* 64 33 69* 69* 69 84 15* 65 66 84 6 67* 72* 16* 17* 74 83* 5* 70 6 67 16 68% 16 16* 17 75% 74 50 49* 13* 13* 12* 13* 12* 75 75 75 75* 74* 28 809* 28* 89* 28* 86* 88* 85 86 85* •180 135 180 185 130 88* 83* 88 83* 83 •74 •49 • Do pref. Col. A Hook. Coal A Iron. 124 17 76 •49 B3d and asked prices sales 19 92* 39* 37* 93 95 18 38 70* 3»% 35* 93 93 60 76* 169 58* 103 33* 73 68 I 78 49% 13 74* 86 135 no Bid Street Rallwari. Coney Island A Brooklyn. 325 lit 5s 1908 JAJ 102 sales Ask. Federal «r.8t.*Nsw lst5s'06AAO A Lorimer St. 1st 6s Kings Co. Blerated.— G'prt let 4i 103 114* 104 106 1949—Sm Stock Exoh. Hassan Bleo pref .... is 1944 AAO lit 411948 JAJ 75 110 86 WewWmb*gAFllitex.4*s 104 St»lnwaylst6sl93S. ..JAJ {116 Steel...,., Do pref. •General Bleotrio , Gluooie Sugar Refining. . Do pref. H. B.ClafllnCo.... International Paper Do 37* 91% 30 34 8 105 list. 80 114 89 1.5 118* 44*Jan 10 6*Mar 16 Sod 20 J'ne 18 44* Sep 22 31*J'ne 18 10 Sep 36 30 Bep 84 16 8 1,100 3 7* Apr 60 7*Jan 31*Jan 433 23 J'ne 21 79*J'ne 18 15% Aug 435 83 Aug 1.0S8 38* ct pref. Salt 500 pref. 34 89*Oc. pref. p. c. stookdir. Bid. Ask. C1T1BS. Buffalo Street Ry— Btook. 100 1st oonsol 5s 1931. FAA «116« 1107 Deb 6s 1933 Stook.. 355 Chtoago City 87 Indianapolis Street Ry.... 108 Cleveland City Ry Clere Clty-lst 5s '09. JAJ 103 83 Cleveland Bleotrio Ry MAS 103* Con 5s 1913 30 Columbus (O) 8t Ry MAN . , Preferred . 90 Railway. Ry— Con 5s.— See P Bid. hila. 1103 Crosst'wn— 1st 5s 18* O Hob A Paterson 41 g Nit 1 1949. .MAN 83* 1108 Kansas City HI 6 s JAJ i 89 Guar 4s 1928 J »• tea* 110 860 29 103* 105 84* 100 81 9*May 80«Au« 5*Ap? l*Jan 30*Feb Ask. list. Ry— ,.,...,.... 83 113 LynnABos-lit 5s 24. J AD sua Mlnneap St Ry-5s '19.JAJ $108 ' ••it* Nor 1 52*Dec 4 10%Jan 26 75 40 1 Deo Dec 9 30 70 8 5 4 18*May 40*Nor 2 17 Feb 7 31 Deo 83 Jan 89 Dec 107*Jan 28*Feb 5 22*Deo 40*Jan 106*Feb 20 103*Deo 115 Jan 48 Nor 15 96 76*Nor 14 53*Feb 6 31*Deo 63 Apr May 9 9* Aug 85 97 * « • * •••• *•«•• ••• • • •••• 1 6 Feb 38 11 1 • • 63* Feb Nor 84 Feb 51 Mar 85 Dea 95*J'ly 103*May 39 Apr 5 Jan Feb 13 Jan s 95*Jan 133 Nor 37 Deo 76*Mar 95 Dec 110 Jan 97 Jan 117* J'ly 17 Deo 68*Jan 62*Dec 95 Jan 19 12 14 115*Jan 11 2«%\ov 13 Apr 30 36 Oot Nor 30 110 Deo 6%Jan Nor 81 6 Mar Feb 8 Nor 10 35 Dec lll*Apr 3 90*Deo 58*Jan 17 4 4* J'ne 8l**MOT 10 75 Deo 204 Dec 3 156 Jan 27*Feb 8 l6*Dec 70* Feb 6 60*Deo 65*Nor 3 58*Deo 20 Nor 21 71 Nor 20 10* Jan 3 8*8ep Feb 2 l7*Oot 28 25 Feb 7 3 104 19 18 • • » » Jan J'ly 17*Nor 10*Apj 55 Jan 39* Apr Ana 61 91 Sep *07*Oot 33*9ep 79 Aug 65 Apr 15*Nor Jan 136 36 Sep 15* Jan Mar Mar Nor 17*Deo 11 45 89 60 9 77* Feb 8 71 Deo Jan 13 151 Oct 27 (45 Deo 35 19 Jan 3 5*J'ne 40%Not 84*N«» 25 7B*Nor 18 84*Dec 6 44 Jan 3 37%Doc 57 Apr 7 l0494Jan 99*Deo 181 J'ly 3 1 137 Nor 12 120 Dec 185*Bep 22 88* Jan 5 83 Dec 98*Jin RAILWAYS, Street Railways. Orleans City Ry Preferred , , North Chicago— Btook. 1st 5s 1906-18 JAJ North Jersey St.— Stock. 91 83 113 114 no . <*o. Bid. New , 30 88 St (Chic)Bler-Stook 9* 10 JAJ 93* 96 deb 5s 1928 119 Louisr St 5 p o bonds 1117 Preferred De« 3l*Sep 333*Mar 6 5% Apr 103%AUC 43 830 16 20 25 Bep 64 88 Jan 130 80 37 25 175 23 21 7 9 11 57 26 28 25 25 DM 37*Jan 34 Deo 87*Jan 30 Deo 59 Apr 77*Deo 94*Api 34 May 48*Nor 70 May 86*Sep 32 Deo 79 Mar 84 Deo 108*Mar ll4*Deo 183 Mar 110 Jan 183 Mar 194 Deo 105 Apr 30 Deo 52*Apr 74 Deo 99*Feb t78*Deo 239*.Apr 131 Deo 150 Mar 31*Dec 70 Apr 130 Deo 160 Mar J'ly 17 Feb 6 40%J'ne 25 64*Nor'19 88* May 14 105 Nor 12 Lake Common. 16*Nor 01 tExrights. Street Col St 85 Sep 6*Dec 171*Nor 60 Nor 103 Nor (Given at foot op 7 consecutive pages).— STREET Railway. 53*Mar 160* An 41*Bep 1 8*Feb Nov 17 163 J'ne 38*Nor 81 20 Deo 95 Nor 30 71 Dec 63 Jan 101 Aug 9 8* J'ne 14 57* Feb 6 3«*Dec 75 Apr 77*Nor 81 67 Deo 93*Apr 76* J'ne 26 . 68*8ep 46 Not 97%Oot 44*J'ne 301 J'ne 23 20 4,500 10,59 J 8,868 • • « t tHx 100 11 11 19 15 11, 3' 5 , pref. (new stock) Less than 100 shares. BR— 7 5 6 2 3 aiKMay 10*Deo Deo Deo 88*Jan 51 30 18 131*Jan 17 31 Apr 2 Jan 11 100 . . OTHBR Feb Nor 36 66 Feb May 10 80 Jan 1,800 . Street 16 1108 Jan 1119 Feb 83 13 Apr Nor 37 30 Oot Nor 18 133 J'ne 49*Apr 4 31 Deo 78*Feb 3 72* Deo 16*Feb 6 8* J'ne 100 37 167 3*Aug 3 Nov 30 50 65 96 5* J Nor 99*Nor 26*Nor «W*Nor 1150 6*Jan 30 3,878 pref. Steel Oot i 10 Lead..,.,,, Do 18 J'ne 9 2 146 70*J'ne 23 710 ational Biscuit.,,...., 93 Jan 68*Jan 34 38 Jan 73 Apr Deo 7 118 Jan 141 Feb 74*Mov 21 38*J'ne 5l*Dea 89%Nor 21 66*Deo 84*Jan 8%Jan 6 6*Deo 99* Deo 84* Apr 37 19 May 25%Ap7 li*Mar 26 7%Deo 18 Aug 58*Apr 8 45 Dec 64 Jaa 33*Mar 36 21*Deo 32%Sep 2094 Mar 3 13*May 21 Nor 57 Apr 2 45 Deo 59 Aug 5 100 117 Oct 19 100 ll*J'ne 23 13,255 U64 Sep 81 28,500 31*May31 5,661 70 May 18 800 89 Sep 35 93,639 3S*J'ne 35 7,811 60*J'ne 36 800 64 May 17 8,730 120 Jan 10 3,710 44 May 15 90 98 Jan 2 100 }103 Oct 13 3,170 14*Mar 6 1,730 58 Mar 6 3,180 24 J'ne 30 6 6 on this day. 3* J'ne 38*May 55 Jan e • pref. Do Jan 68*Apr 88*Mar 44 Nor 90*Nor 7*Dee 66 2 1* Dec 2094 Nor 27 8*J'Ee25 Manhattan Beaoh Co 18* National 93* Do 37* National 70* Do 34* National •30 — ^ref. Do 100 15 i 100 34 36 J'ne 26 NewCent.Coal 34 • • e • e • 30 Nor 164* 189* N. Y. Air Brake 3,078 112 Sep 168 169 169* 170 18* 19* 19 19* 18* 19 North Amerloan Co ...... 33,170 13*Jan 7 Ontario SUrer. 7 8%J'ly 7 .....,,, 43* 46* PaolfloMaU..... 15,178 85* J'ne 46* 47* 46* 47 97* 99* eopTsGas-L.AO.(Cnlo.) 66,628 81*Oot 98* 99* 98* 100 49* Pressed Steel Car 49 4,875 32*Sep 49* 49* 49* 49 83* 83 Do 1,850 70*cep 84 85 83* 84 pref. 6,077 76 J'ne 301 203* 199* 301* 800 800* Pullman Company , 8*J'ne 5,030 15* 16* 15* 16* 15* 15* Republlo Iron A Steel.. 65 65 Do 85 4,767 49 Aug 65 85* 65 pref 84 65 Sllrer Bullion Certlfi.. .. •64 64 66 59*Jan 65 •88 82 85 loss-Sheffield 8.41 ..,, 100 17*Oct 23 69 Do 700 59*J'ne 69 89* 69* 69* 69 pref •5* 6 Standard Rope A Twine. 430 4*Mar 6 *5* 6 100,855 48 Oct 64 68% 69 69* 61* 63* Tenn. Coal Iron A RR 18* Texas Pacific Land Trust. 1.800 13* J'ne 15* 16* 16* 16* 16* 8,000 10 J'ne 17 17* 16* 17* •16* 17* Union Bag A Paper 74 76 74 78 176* 78* Do 835 56*May pref. 50 68 United Statei Br press . 567 45 Mar 80 149* 50 50 7*J'ne 47,343 12* 13* is 14* 18* 13* United States Leather. Do 3,540 65 J'ne 75 75 75 pref. 75* 74* 75* 45,507 31 J'ly 25* 29 United States Rubber 30 38* 30% 28* 83* Do 9,045 78 Dec 84 86 pref. 83* 81* 78 133 135 '138 136 •182 136 Wells, Fargo A Co 120 J'ne est Union Teleeraoh t',594 77*J'ne 183* 83* 83* 82* 82% 83 •30 OUTSIDE SECURITIES is oertfs lndbtl903.JAJ B'kC.ANew 5s '39. JAJ pref. Detroit City Gas International Power International silver., .... Kntokerbooker loe (Chic.) Do pref. Laclede Gas (Bt. Louis). 5 93 60 93 Y.).. Gas A Bleo. of Bergen Co. 37* 91* 18* 92* 87* 70* 33* 70 85* 38* 50 79* 71 71 100 15 37* 38 91* 92 •18* 80 •93* 95 37* 98* Do 91 *»•••• 60* National Tube Co 60* 60* 61 Do 108* 103* 104* 103* 103% 103* 103* 103 46 64 71 •95 •18 71 71 35* 85* 92* 93 60 60* 53 88 199* 800 65 85 70 73 100 15 •13 73 73 52 •35 •64 •83 •69 70 95 87* 38* 37* 37* 38* 9a* 929* 19 L •91 91 80 19* 19* •]9 19 93 95 93 93* §93* •89 40 89% 39% 38 ,5 « 104* 104 104 •30 34 34 169 168* 173 19* 19* 80 •5 78 100 15 U* 35 8*Deo 83*Dec May 38*May 5 17 . . 113 134 90 71 •95 15* Dec 48*Dec 22*Deo 25*Jan 9494Nov22 Jan 16 54*Nor 19 90* 3,572 85 J'ne 35 99 Nor 17 Do pref. 37* 27* Amerloan Steel Hoop ..... 7,860 17 J'ne 25 50*Feb 6 78 78* 1,910 64*Sep 28 86 Feb 6 Do pref. 41* 48% Amer. Steel A Wire (new) 90,695 28*J ne 25 59%Apr 2 85* 86 9,400 69*J'ne25 95 Feb 1 Do pref. xi23*184* Amerloan Sugar Refining 304.140 95*Mar 3 137* Jan 4 xll4*U4* 1,310 107 Mar 2 118 J'ly 14 Do pref. 98 97* Amerloan Teleg. A Cable. 836 187 Sep 87 5 98*Jan 13 48* 44 Amerioan Tin Plate ...... 13,874 18 J'ne 25 45*Nor 19 88 88 6,554 70*J'ne 25 89%Nor 21 Do pref 104*106* Amerloan Tobaooo....... 76,880 84*J'ne 25 113 Nor 81 Do 138 May 17 140 Feb 15 pref 47* 48 Anaconda Copper ....... I2',o30 37%J'ne 85 5 4% Apr 3 175 180 58 140 Jan 2 181 Nor 19 Brooklyn Union Gai. ... 110 8* 8* runiw. Dook AC.Imp't. 6* J'ne 35 16*Jan 25 e *Nov 20 8* Apr 10 Colorado Coal A I. Der't 49* 60* 20,660 39*Sep 34 54%Nor 28 olorado Fuel A Iron. 91* 91* 91* 93 90 48 75 80 lYIUcellan's Stock*. 114 111 Jan 2 Adami Bx press 90* 93* malgamated Copper.. 136,764 90*Deo 7 30 3u* American Car A Foundry. 9,784 12*Jan 15 488* 66* 9,554 57*J'ne25 Do pref. 1,125 30 J'ne 35 30* 80* American Cotton Oil •90 100 88*Sep 19 91 pref. o 30 37 Amerloan Dlitrlot Tel .... 110 24%Jan 4 134 1143 Mar 6 160 165 Amerioan Hxpreii 8,210 27* J'ne 26 38* 39* Amerloan loe 68 70* 3S0 80*J'ne 19 Do pref. 5,288 7* <* Amerloan LI meed,. 8 Nov 19 14,386 38 Nov 20 38* 88* Do pref. •4* 800 6* Amerloan Malting.. 3 J'ne 13 1,850 18% J'ne 37 35* 26 Do pref. 68* 63% Amer. Smelting A Refining 17.714 34*J'ne 18 91* 91* 90 90* 90* 60* 48* 49* 49* 49* 51 49% 51* 49* 76* 78* 75* 76* 75% 76* 76* 78 76* 76 68* 6894 68% 68% •167* 168* 167 187* 168* 167 166* 168" 167* 167* 167 54 53 62* 53 53* 63 153 52* 53* 62* 53 •100 108 1101* 102 '100 100 103 100 108 H01 101 110*110* %%' "83* 83 83 88 23* 83* 83 83* 23* 33 78* 73J* 73 73 72* 7894 73* 73 73* 73* 73 |50* 50* 51* 61% 53 63* 50* 51% 63 53* 52 •4* •4* 6 •4* 5 4 4* 4* 4* 4* 14 93 21*Apr 66*Apr 83*Sep 85*Apr 43*Jan 37 65 Aug Highest. Lowest. 24 150 •6* •15* 16* •15* 16* 15* 15* 15 18b* 189* Consolidated Gas (N. 194* 193* 195* xl92 193 19l 191* 189* 193 36* 35* 36* 35* 35* 35* 35* 34* 35* 33* 34* Continental Tobaooo 93 90 Highest. Bep 32 Jan 15 49 230 61*J'ly 285 136 Jan • • e •183 Lowest. Range for previous year (1899) . City Rapid Transit. pref. Do for year 1900. On basisof ico-sh're lots 8*Dec 14% Feb eoo 64 Pep 35 76 N^v28 64 May 75*Jan 14,600 3I*J'ne2d 50 Deo 38* Deo 4<%Jan 18,370 8*J'ne20 l6*Dec 6*Jan 18*Ang 40,087 21%J'ne33 39 Dec 17 Jan 40*Aua 146,816 30*Jne 18 43*Nov 19 87 May 44*N0T 149,411 10*J'ne 36 18%Dec 10 May 14*Oot 61,38 49*J'ne 25 68* Deo 40*Jan 58*Nor 68,835 13*J'ne 25 81*Deo 13*Dec 26*M« 6,589 45*Mar 2 135*Jan 117*Dec 243 Feb Do nlon Paoloo 1 1155 2. 96 97 48* 43* 46* 47* 3d pref A 8. Fr., TOt.tr. otfi. Do Do U 9* 11 7% l* 39* 8s* 41* 39 5 6 5* oS* 86 25 27 88 7* 8 40* 41* 5* 5* 95 37 76 41* 40 69 70 •30 160 165 U* L. Twin 33 90 Do Do 3t. 148 27* 34 III. r 53 11* AG. . 10* 33 J. pref. rot.tr. ots. lit pref. 15* St. Louti South weitern. pref. Do 38* 41* Southern PaolfloCo 17% Southern, rotlng tr. otfi.. 67* Do pref., rot. tr. otfi 20* rexasA Paoloo , 1 hlrd Arenue (N. Y.).,. 115 21% 10* 28 41* 41* 70 23 5494 91* 20* 67% 30* St. 76 50 9 53 • Do 70* 71* 80* 81* 72* 81* 9* 87* 11* 27* 10* 34* 90* 94* 19% 80* 20* 81 66* 66* 66* 67* 30* 80* •30* 31* 90 91* 90 92 35 37 35* 85* 94 130 49 175 7b 48 76 "86* 87* 87* 87* 87* 87* 87* 87* ioa* 108 106 107* 108* 107* 106* 107* 49 61 83* 21* 19% 20* 39,700 140,944 15.980 Rio Grand* Western 81 37 65 117 95 •75 "94* 8* 8* 8* 59* 83 80* 21* 18* 19* 45* 48* 46* 15* 16* 15* 38 38* 88* 40* 41* 41* 17* 18 17* 66* 67* 67* 20* 21* 20* 113* 114 114* 75* 43* 40* 41* 41* 85 88* 84* 85* 85* 180* 183* 13»* 134* 137* 135* 186* •116 •98 8* . 67* 150 95 164* 164* 160 41 •70 65 P3 95 146 78* 73* 71% 72* 71 8-.* 88 83* 82 81* •8* 8* 8 8* 8* 31 80* 31 81* 31 If* 10* 10* 10* 11 •53* 55* 153* 53* 54 38 88* 37* 8S* 27* 10* 10* 10* 10* 10* 183 S3* •31* 32* 31* •135 80 81 65 76 76 20* Reading, rotlng tr. otf i lit pref., rot. tr otfs. 63* 64* 31* 31* 3d pref., rotlng tr otf a. • 56* 58 18* 80* 18* 19 56 N. Y. Dec. 7. as* 64* 31* 38* 95 8* 8* 8 55 Friday, of the Week. Shares Page Range Sales STOCKS. 8TOCK EXCH. 30 5. 31 65 93 94 (2 pages) Dec. 6. 19* 19* 68* 63* •67 •94* 9S PRICES • , . Ask. If* 81 93* 94« 300 3C2 107* 108* S3 34 Bonds 83* 84 Pat Ry oon 6s 1931 .JAD 119 'MDi Gen 6s 1914 AAO 105 *ror A Pawt'ck-lst5s '33 {113 115 Xoohester Ry 39 ,, 88 Oon 5s 1930 AAO 1108* 109 2d 5s 1933 .JAD 81 83 i Buyer pays accroeu Inter est, J J O S 1 . * N THE CHR0N1CLE.-B0ND llofl BONDS WeeVs Range or Jan. 1. since Ask Low. High No. Low. High Bid. labamaCent. SeeSoRy. SLiaMid. Se«8a-».F1«.&W. Jbany A Susq. See D & H JleghenyVal. SeePennCo. .Ueg. & W. See B. R. & P. k m Dock A .nn 1995 Q- Jt tch T A 8 Fegen g 4s. .1995 A1995 ARegistered O Registered 90 Sale Sale BONDS. A St Lou 1st 6s. .1915 M-8 A Char. See Sou Ry. tl Knox A No 1st g 58.1946 J - D tlanta & Danv. See So Ry tlan A Tad. See South Ry ustlnANW. See. SoPao.. >at Creek A S. See Mich Cen 'alt A O prior 1 g 3*s.l925 J -J 1925 J -J Registered • •••a 96 98* 101* 78* 80 84* 84* W c • * • • PJunAMDlT em 97 90% A Car. 07% 325 101 10094 9994 Nov'OO 88* 8794 Sale 236 "41 90* 877 90 • MononRiY Istgug5s.l919 F-A OenOhloRlstog4*sl930 M-8 el 111 111 SeeNYCAH May'00 •a ii" J'ne'90 See Illinois Cent, oonev Bridge. SeeMK&T way A 7th At. See Met 8 Ry klyn A Montauk. See L Isl. runs & West. See8avF&W N Y A Brie. See Brie. 1937 M-8 •118% uffRAPgengSs uff 118* Nov'OO J-J A-O •100% ClftMahlstgug5s...l943 J -J 125 ..., Rooh A Pitts 1st g 6s. .1921 F-A 126)4..., 1922 J-D 185 ..., Consol 1st 6 uff & Southwest. See Brie. uffASusq 1st gold 5s.. 1913 A-O 1913 A-O Registered 1906 J-D 106%., urORANlstSs Con 1st A ool trg 5s.... 1934 A-O •118 1934 A-O tlltll Registered C R I F & N W 1st g Cs.1921 A-O U3*.. MAStL 1st gug7s.... 1927 J-D Canada South 1st 5s... 1908 J -J 109 Sale 2d 5s 1913 M-S 108* 1913 M-S Registered 1 947 Debenture 6s All AWeat lstg 4sgu.l998 * a a * a t • « « 103 180 128 See See Seab XII Cent. 10894 Not'00 118 117 109 108J4 Nov'OO 104 Apr'00 92 94 180 97* Sale 97 96 53 % Sale 16* 17K 7* .1908 Nov'OO * 28 10 1939 Registered 1992 Gen gold 4*a 1992 Registered Craig Valley lstg 5s.. 1940 ~ 98 *> 54 • a a • 125 ISO 114* 17* 8* 126* 104 Warm Spr Val 1st g 5s 1941 M- 105 BSgug 56.1902 M-8 101* RR— S f 6b. .1903 M-N 104* Refundl. g gold 3s.'...194« A-O Miss Riv B 1st sf g 6s.. 1 91 2 A- (I 85* JtaiVway, gold 3*s.... 1950,1 -J hlo Bur A y— Con 7s .. 1903 J - J 111 Sinking fund 5s 1901 A-O 100* Ohio & Iowa DIt 5s.... 1 905 F -A Denv DlT 4s 1922 F-A 100 106 38* 54 96 • • • 16 83 82 10294 113* Nov'OO 117* 117* iao 117 18091 J'ne'00 Nov'OO 106* 107 98 J'ly'00 101* Apr'99 10194 10194 104* Sale 93 93 96 1894 81 11194 101 101 10494 Apr'00 108 Nov'OO 105 1C5 107 104% 111* 100* Ul* Debenture 5s. 1913 M-N HanASt Jos oon 6s.. .1911 M-8 120* sf our 66.1907 J -D 118 114 HIOAHIU, 1st Small 1907 J-D lstoong6s. 1984 A-O •134 1937 M-M 114 115* Gen oon 1st 5s... Registered 1937 M-M Ind O Ry 1st 5a 1986 J - J 114*116* Ohio * 10494 10494 100* 103 105* 13 10094 138 Nov'OO 11394 11? 111* 10994 180* Nov'OO 114* Sep.'00 184 116 116 114 2 108 • • • a 100* 180* 10 108* 118* 112 107 H3 108 188 118 188 116 183* 188 Nov'OO 116* e 118 117 115 115 Aug'00 114 10894° "l4 105*114 A A Ch 1st 6s.. '10 J- J 117* 117* 117 106 116 102 Sale Railway*. Bid. 111* 118 100 118 107 117 Securities. Bid. | 97 00 18 13* 5a. CASlatMOOOAI7a.l901 A-O OInd A W 1st pf 5a... 1088 63* 64 10 63 80 65 84 m* Nov'OO Aug'00 Nov'OO Nov'OO Sep.'OO 180* US* Nov'OO Oct.'00 116 120 118* He* *.39% Aug'00 187* Nov'OO 106% 106* 106 110 120 106* Nov'OO 108* Sep.'OO Mar'00 Nov'OO Nov' 98 107 107 103 117 116* 116* 111 Oct.'00 108* Nov'OO 107* Nov'OO 108* 108 Nov'OO Deo '99 116* Nov'PO 105 81* 106 82* ue 110 118 120 139 180 11794 Feb'98 118 118* Nov'OO a a a a a a •102" Nov'OO jeeea 120 ;;;;; 108* Feb '00 103 in in in ...... 120 135% 125% 112% 112* 111* 120* 186 107% 103* 108* Nov' 99 Apr'00 Apr'00 Apr'00 Nov'OO 186 Nov'OO 124* 137* 139* 107* 109* 189 140 13194 130 109* Sale Nov'OO IS3% 139V 22% 187* 137* 187* Aug'00 Apr'00 Nov'OO Aug'00 131 130 109 : 112% IU 112* 110 120 1 189*189* 106 YORK. Cent Union Gas— lat 5a Con Gaa (NT)— Stook— 10094 106% 107% • ••* May'00 88* Aug'00 100 98* May'99 113 112* 113 107 134* 16 131 186% Nov'OO May'00 139* Nov'OO 93 94 131 140 127 39 01 185 140 J107 Y Stk 108 Bxoh Bqult GasCon. 6a 1032— See Stock Ex. 11 St 805 310 Mutual Ga6 Amsterdam Gas— Bale 134* 188% 133 140 128* 99* Sale 105 106 109 118* Aug'00 113 111 99 .. 101 97 98 .. 108 117 108 117 111 114 04 108 103* .. 100* 100* 103* 130 102 103 117* 117 118 Nov'OO 99* 111* ,. 188% 97% Oot.'99 J'ne'99 Jan.'00 Sep.'OO Oct.'00 100 118*118* J'ne'99 Nov'OO 98% 03 100* 104* 103* May'99 Oct'OO Nov'00 94 84 105* Apr'00 105 105% Aug'00 188* 135* 135* Aug'00 114 99 04 83 95 104 115 .... 184 187 ioi'94 Sale 93* Sale Bale Nov'OO 116% 135* 186 188* 187" ioi% ioi% ioix 114 184 101% Sep.'OO 106 111 ssar'OO 188 18i 83* 84* 251 Bale 79 78* 71* 80 78* 87 70* 198 Sale 64* 78* 79 79 79 84% 94* 84 48* 94* 169 42* 811 08* 34 111 180 4 DakAGtSo. alias B$4 A Waoo. es 8 CM AStP. A-O SmMKAT. Gaa Securities. Y A Bast River Gas— 1044 JAJ fUS* OTHER MAN Chicago 114 108* 111 JAJ Consol 5s 1045 Nor Cn 1st 5s 1037. .MAN Standard Gas—Common. Preferred >< 1st 5s 1930 Gaa Bid. 108 130 150 1115 104 138 158 118 CITIES. April. ADM 5 7 67 9 70 dtc. Bid. Aak. Sto ok Bx ob 194% 190 Coke. Securities. Gai A Gas L A Heat—Com.. . 38 77 Preferred.... lat 5a 1938 JAJ v'104% 106* 15 C maolld Gaa (N J)— Stck 10 60 66 1st 56 1936 JAJ Gaa (Pitta).... Pref Bonda 5a Bay State Gas— 1% 1% ?108* 100 NT Bleo Lt Ht A Pow— N. Y.Stk. Bxoh Boston CnltedGas Bonds- -BOBtO nLls fonaum Gaa Buffalo City Gas— Stook. 1st 5s Bonds Oct. Gas— See N Y 'lnclnnatl Jol Oonao'l Baltimore Consolidate— Se sBalt. Lis List. 114 O0t.'99 1st consol 58 Gold 58-See N. Y. Stk. Bxoh. 06 96 86* 86% H Conn A Term. Be* NAW Conn A Paa RItb lat g 4a. '43 1st 5s . 107* IS 189 184 187 188% 11* 103* 109% 18194 96 134* .1938 Qu-J Reglatered CleT A Pitta. Be* Ponn Oo. Mldl'd— Iatg8-4a...l947 J- J Col 1947 J-J latg 4a 1929 F-A Col A Sou lat g 4a Ool A 9th At. B— Met St Ry. Oolum A GreenT. Sas So Ry. Val. Bet Hook Val. Col A N N. 117% 120* IBS* 180* 129* 110*116 5 119 Peo A Bast lit oon 4a. 1940 ,1990 lnoome 4a..,,. p 1 1 Lor A Wh oon lat 5a. 1933 t- 6 ciev A Marietta. Be* Pa RR. CleT A Mahon Val g 6a. .1938 j -j Ask. NEW 114* 180 11 117 32 116 (Given at foot of 7 oonsboftivb pages).-.04# SECURITIES, Gaa Aak. Cen 4a 1034 JAJ » 88* h'd TrABleo(ProT)-8t'k 110 rest Chloago at 100% 101* Oong 5a 1036 MAN 108 103 , 117 t 91 08* 100 o (Ma68)Tr-C>m 118 Nov'OO 112*115* 109 J'ly'99 and asked tkls week, t Bonds due July. *DueNov. IDueJune. tDue Jan. IDueMay. aOptloasales. bDue Aug. cDue OUT8IDE 8ECURITIE8 Preferred 1936 19S6 Vb 1928 r. CC CAloonBol7s,...1914 j Id 1914 j-d Conaolaf 7a Gen oonsol gold 6a.. 1981 j -j 1934 * -j Reglatered Reglatered Cln S A 01 oon latg Ool See Brie. Side Bl (Chio)— Stook. rraeuaeRap.Tr., 6s, 1046 nlon Trao (Ohio) Com. Preferred nlted Rys (St L Transit) m . 113* 100% 103 166* let 172*178* 10 166* 175* 31 168 17894 115 116 120% WW 1 I. LA LA 8* 8594 tines Jan, Sale. 12n* Nov'OO 129* Nov'OO 11'-% 119% 181% 122 .... U8% a a * 104% J'ne'99 Oct.'00 iu* Nov'OO . • Me artoe Friday; latest bid 136 97 5 115*119* CIStLAC. SeeCOOAStL. 19 115* 12194 CinSAC. SeeCCCAStL. 117 117 Clearfield A Man. SeeBRAP. 819 95* 104 C C C A St L— 93 ...1993 J-D 96 Gen g 4a 100 103 Cairo Dlv lat gold 4a. 1939 J-J "l8 101 ClnWAMDlTlBtg4a.l991 J-J 107 92 99* St L Dlv lat ool tr g 4a. 1990 M-N 1990 M-N Reglatered 5 iooii ib's" BprACol Div latg 48.1940 M-8 1 104* 106* Val Div latg 48. 1940 J-J 10 92* 98 C I St L A C eona 8a. 1980 M-N in- 11894 Nov'OO . In* Loul6— Refg 6s.l947 J - J Refunding g5s 1947 J- Sale H 8594 4389 81* 8 10994 11194 35 Sale .... 116% 1905 J -J Extension 4a. ...... .1905 J -J KeokADesM 1st 5b.. 1923 A-O Small 1923 A-O lstg 4s l t 122 DesMAFtDlat4a...l905 J-J Chlo A St L See Atch T A S Fe NO. Seem Cent, Chio St Pitta, flee Pa Co, Chio St Chic StPMAOeon 6a.. 1930 J -D 105 106 Ch St P A Min lat 6a. .1918 M-N 106% 111* Nor Wisconsin 1st 6s.. 1930 J-J 8tPASCitylstg6fl..l019 A-O 117* 138 116 125V, Chlo Ter Transfer g 4a. .1947 J-J 130 180 ChAWeatIlatafg6fl..l919 M-N 1932 112*11694 General gold 6a Chio A West Mioh Ry 56.1921 f 100 106 1921 Coupons off. 100 108* Choo Okla A G gen g 56. 1 91 J-J ct 1905 A-O Cln A D oon 6 f 76 1937 J-J 2d gold 4*s 1st gu g 5a.. .1941 M-N 113 11794 Cin DAI 9* 4* Range 107% Nov'OO 1988 J -J 1988 J -J Registered..... D D Aug'00 102% 108 DlT g 8*a ...1040J- J 104* Registered 1949JIowa DiT sink fd 5b. ..1919 A-O 114 1919A-0 104% Sale 4 Nebraska Hxten 4i. . .1927 M-N •111 Registered 1927 M-N Southwestern DiT 4s. 1 921 M- 8 100% Convertible 5i 1903 M-8 186 Preferred 120 298 60 69 113* 102* 104 94* Aug'00 Sale a a a a a a Kill Lex & hlo A Alt kloagoABrie. 65* 88* 98% J'ly'00 115* 103 JBAADiTlatcong4al989 J -J 106 3dcong4a 1989J -J Illinois F-A J-J A-O 109 106 M-S 115 1181 M-8 115 117* M-8 113* 113* M-N MllLSAWlstg8s...l921 M-N Ext A Imp sf g 5a... 1929 F-A 106 109 Mich Dlv 1st gold 6s 1924 J-J 106 109* Ashland Div lstg 6s 1925 M-S 104 104 Convertible deb 5s. .1907 F-A Inoomes ...1911 M-N Chic Rook Isl A Pao— 66 1917 J-J Registered 1917 J-J 87* 98 640 Dec '99 J'ne'»9 Oot.'00 10694 10694 127* 1279s M-N M-N M-8 M-8 Des Mo A Minn 1st 7s. 1907 Bsoan A L Sup 1st 6s.. 1901 IowaMldland 1st 86.. .1900 MllAMadlst6s 1905 North Illlnoielat 5s... 1910 OttC FA St Plat 56.. 1909 Winona A St Pet 2d 76 1 907 91 117 L ^st 137* 126% J -J 127% J-J 111% .... 109M 176 176* 174* J-J 118% J-J 119% 11094 J-J 112* 120* J-J 180* letLaCrosseA D 5s. .1919 Mineral Point Div 56.. 1910 1st So Minn Dlv 6s. ... 1910 1st Southwest Div 6S..1909 J-J 97* 10294 WlsAMinn Divg 56..1921 J-J 99% 101 91 MilANol6tM L66...1910 J-D 85 lstoonsol8s 1913 J-D ,i*iit a a •* 85* 91% Chio A N' west—Oon 7s.. 1 9 1 Gold 7s 1902 ?--£ Registered.... ii"i" iia 1902 J-D Extension 4s.... 1886-1 926 F-A Registered.. ..1886-1986 F-A Gen Gold 3*s 1967 M-N Regl6tered ....1987 Q-N Sinking fund 66. 1879-1929 A-O Registered ....1879-1929 A-O Sinking fund 5B..1879-1929 A-O Registered.... 1879-1929 A-O 25-year debenture 5s. .1909 M-N 109 114* Registered 1909 M-N 30-year debenture 56.. 1 921 A-O «•••• •••• Registered 1921 A-O Sinking fund deb 56. .1933 M-N 129 131 Registered 1933 M-N 184 128 92* 97% Oct.'00 7* 95 102 106 . . roroeater a Rgengug5a.'2Qj'J- J W Itreet 94 ie Sale B C 5a, 19l3M-N Leh A Con ext guar 4*s. 1910 Q-M| 102* Sale ant Pacific See So Pac Co harlesA Sav lstg 7s... 1936 J -J 116 bea AOhlo g 6s ser A..1908 A-Ot 114 Gold 6s 1911 A-Ot 117* Sale lstoong5s 1939 M-N 120* 120&4 LouisvN * NOT'00 6194 7s. 1902 M-N 106 1987 J-J 137% Sale 1987 Q-Jt 125 . . 1910 1908 180% 123H 119% 1st 2*s . Am Dock & Imp Co 5s.l 92 J-J LeAHud aa a* 118* 108* MldGa&AtlDiv5s...l947 J-J Mobile DlT 1st g 5s. .1946 J -J General gold 5s, Registered Convertible deb 6s. AD Dlv 7s.. .1910 General gold 46 1946 J-J . Not'00 Nov'OO 113* 94 119 lit pref lnoome g 5s . .1945 Oot.t 3d pref lnoome g 5s ... 1 945 Oct.* Sd pref income g 5s ... 194 5 Oct.* MANDiTlstgos . . . 1916 J -J 1924 J-J . • 92 1945 F-At 1945 M-N 1945 M-N Registered Consol gold 5s Registered sntof NJ-lst cons Not'99 Not'00 Not'00 Cen. A Roan. irthage&Ad. SeeNYCAH. RIaFAN. Se«BCi.AN BnBranohD P Istg4s.l948 J-D Bntral Ohio. See Bait A O. snRR A B of Ga—Col g 5s'37 M-N antofGaRy— lstg 5s. 1945 F-A* »r Apr '97 100 ; Mb & Shawn. mi <•••• It - 106 let Hast 5b F Registered Southw Dly lstg 3*s.l025 $-- j 1925 J -J Registered eeoh Creek. 105 . . DakAGtSogSs Far A Sou assu g 6s. lstIADBxten7s 1948 A-Ot 100% Sale 1948 A-Ot 1st g 3*sl 925 M-N *"8S" "88 Gold 4s Registered 105 Week Range or Ask. Low. High. No. Low. High Bid. Registered 1989 J-JI Chlo A L Su Div g 5b. .1921 J-J Chio A Mo Riv Dlv 5s. 1926 J-J Chio A Pac DIt 6s 1910 J-J Chlo A P 1st g 5s. 1921 J-J LXXI [Vol. J -J 175 176* 16794 Aug'00 J-J 175 176* 172* Apr'00 litCA M7s 1903 J-J 175 176* 176* 1.6* ChioMilAStPoon7s.l905 J-J 17694 Sale 175 17694 Terminal gold 5b 1914 J-J lli% 114*Nov00 Gen gold 4s series A... 1989 J-JI 114 114* 114)4 Registered 1989 Q-JJ 105* Feb'98 Gen gold 3*s series B. 1 989 J-JI Chio 105* 105 1. Price Friday, Dec. 7. Chic Milwaukee A St Paul— M A StP— lBt7s 8 g RD.'02 1st 7b £ gold RD... .1902 .tlanta 104 Pag. as EXCHANGE Week Ending Dec. 7. St 98* 108 S * • • • « Novt Novt Nort J -J 1995 1995 1995 Stamped BquiptrserAg5s....l902 Adjustment g 4s 96 94* S3 102* 102^ 624 imi 98* Oct-'OO 88* Sale 90 88* 819 70% Deo '90 84* Nov'OO 95 102% . (5 pages) N. Y. STOCK Se«CenofNJ. I. Arbor lstg 4s PRICES Range Latt Sale. Price Friday, Dec. 7. 31 .Y.STOOK EXCHANGE Wbkk Endihg Dec. 7, 9 5 . lat 6a {And (J 50 60 t 60% 118 City)— Stk 108 MAN fl04 Interest 113* 106 ioe t Price per sb are. 1 Dec. • I . THE CHRONICLE.-BOND 8, 1900.] Price Friday, Week's Range Range or tince Dec. 7. BOND8. W.Y.8TOCK EXCHANGE Weik Ending Dec. 7. SS Laii Sale. M-8 M-N A-O J-D J-D «Ti2oKrwi|t6i..i9ai J-J 1923 F-A 5s Construction lw^a M-N Term * impt 4s SyrBlng4NYlst7s.l906 A-O Warren 8d7i.......... 1900 A-O Del 4 H-lstPa D1t7s.1917 M-S Beglstered u48n2 M-8 Alb * B.tslst0ongu7sl906 A-O iieii 1906 A-O Beglitered.. 1906 A-O i'1'2* Guar gold 61 1906 A-O Beglstered.. 1921 M-N 149* Bens 4 Bar lst7s Registered ..........1921 M-N 149* DelRlTRRBge. 8*»P»5™ Den A RGr 1st gold 7s. .1900 1936 lstoong4s 101* 141 lis" 116% '.'.'.'.'.'. 105^ M * Ft D. SMOB4IP. M 4 Minn. S«Oh*NW. Dei M Un By lit g Si... 1917 M-N DetM4Tol. S«L84M8o. Det * Maok lstlleng 41.1995 J-D 1995 J-D Gold it Dal & Iron Range litSi.1937 A-O 1937 A-O Beglitered 1916 J-J 9d6s Dul Bed W481stg 51.1928 J -J 147 148* 103 Sale 100* Sale 109 105 115 109* , 121 140 "94 * Sale "80" Sale 116 108 136 Sale H4H 105* J-D 9 110 120 112 Sale 1st oon g 4*s.l999 1999 Beglstered V 1st ext g 4i.l948 Col 4 T. See 80 Pao.. Honst H 4 Hous ft Tex Oen. St* 80 P Co, H W Illinois Centralist gold 4s Beglstered lit gold Skis F-A J-J •124 A-O •107* A-O •••••• A-O J.J • A-O 124 • M-N A-O J-J J-J J-J J -J * • fc • • 119*119* 113*118* 123* 183* 134*142" '98 • . No prtoe Friday 126 18 138* 115*180 1* 107* 111 110* 98 99* 99* J'ne'00 9rt 99* 99% 145 90 118 Apr '00 108* 118 184 3 • • • 1 * ••till »••••• 110 105 t t • 117 125 104 oong 109 107 100 ••••• it e • •!•••• •••*• •tilt* •••*•• •••••• • Mill llllll ••••• 106 75 66 108 106 III! III! ttt* I • • • 107 2 Sep.'OO • ttt t Y4RBlstg6 185 tttt • I 77 Not'OO Unified g4s..,. Beglitered LonlsTllle 105 100 102 10P 100 M-S M-S A-O A-O M-N M-N J-D J-D J-J J-J 116 103 • >,,« ••••• ,MM M-8 J-D M-8 J-D M-8 M-8 A-O M-8 Q-O 110*111 110 iis" ii'iM -•••II MIIM 100 Ang'00 ,,..1980 J -J Maulp4ooUg .191 5s 2d series g 5s .,,,,,1919 If ix Internat 1st oon g 4s.'77 105 101 98 104 98 108* 101* Oct.'00 100 103* Ml 1 4 Mad. 98 92 Ask. Un. 85 86 60 100 87 46 00 105 105 51 40 103 CO 70 98 Sep.'OO ••••I l-ttltl HIM l-MIW 91* 93* 101*Sep.'99 122* 128* •••••> flttt 103 ..., 102*.... 101* 103 102* Not'OO 90* 97* 100 96* 97 90* • 96 .... 115 .... 107*.... 108 .... 109 112 110*.... • •nit ..... .,..«. 90 108 97* 106 108* 100 Oct '00 152 97 86 ..,,,, ....,, IHtM 106 tin Ang'00 110 107 105 109 188* 180 lit 25 • 110 MM Jan.'99 • » • May'00 Not'OO III III* «><M4 »»,,,« 105 106 106 22 119 128 • 110* •110 113 •122 03 99 ..... 99* 107 • I I I t I I I • tt It It gold 18 4 150 103* Not'OO 115 103 130 117 115 Not'OO Jan '98 Not'OO 186* 83* Sep.'OO Oct.'00 »••• 115 03* 99 1 99 107* 187*; 109 111* 110* 113* 109 107 Oct.'00 111 • 84* tun* • 130 119 115 187 107* Jan.'00 111* HI* 111* Not'OO 96* Oot.'99 104* 105 117* 117* inn Sale nun iiiiii 13 IS llllll llltll llllll llllll J'lyl ...... t 187 117 115 183 Oct.'00 99 HI* 90* 100 103* 104* 111* 115 50 84* 84* 103* Apr'OC Apr '00 81 18* J'ly '00 70 6 IB M 105* 82 8* 8* I 17 • , » May'00 106 99 ili" 117* 81* Not'OO 26* 26* A-O A-O M-8 J-D 100* 88* 88* 108 81 18 106 103* 81 17 101* ULS4W. fiMOhlo4NW % at p. Bid. • • 1927 SdlnoOs A Op stmpd.1917 M-Si •d income gold 0s B..1917 An.l Hex North 1st gold 0s.. 1910 J-D Beglstered 1910 J-D Kloh Cent. Stt N Y Cent. ItldofNJ. 8m Brie. 1 it Jan/00 98 J'ly'00 Oot.'99 109* >doonlnoomeg8i.,,,1939 104*106* MMM 100*111 Metropolitan Bl. Bt* Man By. 4s. . .1911 J-J 1st con Income g 8s... 1939 J'lyl 116 ..... 109* 103* Not' 99 M-8 M-S M-S 100 104* 100 J-J L4N4M4Mlstg 4*1.1945 M-8 un un NFla4Slstgng6s ..1937 F-A ill* Bale 98* 89 Pens 4 Atl 1st gug 0s. 1921 F-A 110* 115 99* 99* 8 4 N A con gug 5s.... 1936 F-A 109 81nkfd(S4NA)g0i..l91O A-O tttt it»**i L ft Jeff Bge CO gug 41.1945 M-S •••••• ••••• LNAftO. SM0I4L. MahonOoal. 8mLB4MB. anhattan By oon 4s. 1990 A-O 104* Bale 1990 A-O Beglstered MetropolBl 1 it g 6s... 190 8 J-J 117* Sale 98 105 Mm BWOolonlig6i..l984 J-D ios' If tK'pt4 B Y. 8m P MoKftY 113* 113* ia 112 110* 109* 1980 Ktntnoky Cent g 4s. .1987 114 J'ne'00 104* Jan.'99 108* Not'OO '103* 70 110*124 108* 119 110 IIS* Aug'98 103* 8dg8l * ex Nat 103 117* 08* 83* Not'OO 119 Not'OO 118* 1'9 Not'OO 101 Pensaoola dlT gold 0s. 1920 BtLdlTlstg 0s.... ...1981 78 68 70 55 108*Apr.'98 llllll llllll iiiiii nuts 61 J-D 117 Sale 117 110* M-N no* ,,.1940 J-J 100*101 100* Id gold 01 ...... ..... ib'a" 113* Mar'00 106* Oct.'00 ... 28 Oct.'00 111 Mex Cent oon gold ... 111 08* 94 63 83 54 24 110* no* 108* Not' 9 9 •110* J-J M-N 109 A-O 98* M-8 103* H J-D 112* LCin4Lexgf*i...l931 M-N N0 4Mlltg lr ,....1930 J -J 130 110 100 •MM 124 Sale • 105* Not'OO , 119*123 88 104 1940 1931 OolltinstgSi... Coltr 6-80 g 4s ....1903-18 Oecel Br 7s 1907 ft Nam litg 0s... 1918 108* Mil J4J 03* 111*112* 3: d . Deo '98 98* Not'00 99* Jan.'00 104* 88 nun ] 193* 118* • J-J 104* J-J A-O ios" 106* 110* 108* ft tBond die August. (Ind)... 1927 108 »••••• tt II Mar '98 •• 77% 113 68 102* 102* 103*111 Not'OO NashTille— General gold 0s...... .1980 Gold 6s..,,....,., 1987 HIM Mllll llllll 5 180 125 tt •••• Sale eale 68 tttl 1 j ....,.,.,1911 123" May'99 h. ..,,,,1981 Nor 8b b lstoon g gu6s..'S2 120 125* La4MoRlT. SMOhlftAlt. 102* 110 107* •till! •••I III* 116* 58 114 1131 Q-JI 192* Sale 4s General gold it 1988 Ferry 1st gold 4*i„„ 1922 Gold 4 .....1932 Unified g 4s. 1949 Debenture gold 6s... ,,1884 Bklyn 4 Mon lit g 01.1911 N NOT'97 134 108* Not'OO J-D 77* Sale J-J 67 Bale A-O 101 ... A-O 104*105 J-JH J-J F4A 1104 1915 Hartford (Ct) Gas L... 25 t 48 35 Hudson Co Gas 108 6sgl949 Indiana Nat 4 111 Gas— M4N 45 1st 0s 1908 00 Indianapolis Gas— Stook M4N 9d lit 6i 1930 1st 5s 1st 1 HO* Sep.'OO • • I • 22* Not'OO 91* 91* 1 92 59 .... IMIH 105* 1US* Brie. lit oon g 6s these are latest kid and asked this week. exWayne Gai 4 Hudion 1st 01 1925 Long Dook. Stt Long Island- 118 118 4 North. wai— see « Y Bxo Grand Bapldi— Stock 117* 104* 104* 138* 139* 114 Mil fiat Securities. Fort * 67" 'Vo* 2494 Sep.'OO oot-*98 107* • OUT8I0E SECURITIES Detroit 37*' 9* 983 Oct.'00 96 • 1950 DIt g 8*s 195H 1953 Beglstered 1931 F- 4 Middle DIt reg 5s Beglstered J-J J-J A-O L84M8. Set NY Cent. LehYal(Pa) oollg 5s..l997 M-N Registered 5s 1997 M-N Leh V N Y 1st gug4*s.. 1940 J-J Registered 1940 J-J Leh Y Ter By lstgu g 6il941 A-O Registered 1941. A-O L Y Coal Co 1st gu g5s,.193S J-J Registered 1933 J -J Leh 4 N Y 1st gn g 4s. ..1945 M-8 Registered. 1945 M-8 BlO4Nlstglstpf0s.l914 A-O Gold guar 5s,, 191 A O Leh 4 Hud R. Bee Cen of N J Leh 4 wilkesb. Stt Cent NJ. Leroy 4 Oaney Yai. Stt Mo P. Lex At 4 PF. Stt Met St By. 1941 6s.. 1945 NYB4M Boong 5s.. 1935 107 107 116* J 115 .1951 j -j 108* 1851 j -j IiOulsrtlle Stt 80 Ry. 1st g 5s. 1 937 1st 5s 1951 NO 4 Ohio. 2d gold 6s North Ohio lstgu 116* 118 •103* 104* 106* Not'OO .....1951 Beglstered..,. lstgoid Ss sterling.... 1951 Beglstered ,.,.,1951 1952 Coll Trust gold 4s .1902 Beglstered li ft Tex gold 4s.. 1953 Beglstered 1953 Cairo Bridge gold 4s. .1950 0M StLftSF Lake!Brie4W SW Hook Yal Knoxrllle Feb '99 117 A-O 1950 KansasMld. 116 107* 113 Not'00 128* Mar' 00 106* Apr'99 189 Not'OO 116* 108* 187 128 101 125 122 100 Kentucky Cent Set L 4 N. KeokftDesM. SmGRI4P. 117% 119* Jan.'00 116 19* 181 ... M..M 110 Registered VG 8*.CB4Q Han 4 St J. Stt NTNH4H. oniatonlo. XVan 4 Mleh. Set Tol 4 0. K C 4 MB4B lstgng5«.1929 A-O Kan C4 Pao. St* M K 4 T mic linn tent iiiiii Kan C So 1st g 3s. .,..,,1950 A-O 107 109* Deo ..... Sep.'OO 102* Not'00 103* Aug'00 108 Hi 111 76* 90 10 Not'00 94* 91K 93* May'9H 76 80* 99* 10B ib'6" ib'o' . 105* 98* 80 1951 1951 1951 1951 , 141 I. Low. Sigh Ask Low. High. 108* 109* Iowa Midland. Set Ch 4 N W Jefferson BR. Bt* Brie. 85 98* J>alA4GR. S»»L8 4M8. Not'00 118 109 . GalHarA.SA. Set 8 P Co, of '82 1st Si.1913 al Ga 4 Ala By 1st pf g Ss.1945 1945 1st oonsol g 5s Ga Car A No 1st gn g 5s.l 929 Georgia Paolflo. Stt 80 By. Gila 4 Nor. See So Pao Co Gout 4 Osw. 8ee N Y Cent. Grand Bap 4 Ind. 8m Pa Co. Gray's Pt Term See St L 25 104* 138* J-J '110 M-N 108 NT* 1946 M-N Small MldBRofNJlstg8s..l910 A-O 110 NTS* W— 1st ret Ss.1837 J -J 110 1987 F-A 110 2dgold4*s 1940 F-A General g 5s 99% Terminal 1st g 5s.. .1943 M-N •111 85,000 each. 1943 M-N Regis W W 5P 109 J'ly '00 143 $inc* fan. j-j 91* 91 * Not'OO j-j Gold 3*s 108* 102* Not'OO j-j 101* Oot'99 Beglstered j-j 100 Not'OO Spring DIt 1st g 3*s.l951 j-j Beglstered 1951 j-j 118 Oct.'00 Western Line 1st g 4s.l951 F-A 113* Beglstered 1951 F-A 122 121 Ang'00 BeUeT4Car 1st 0s.. ..1923 J-D 98 ...... 90 Not'98 Garb 4 8 1st g 4s. .....1932 M-8 127 Ohio St L 4 N O g 6s. 1951 J-D 127 Sale 187 123 Sep.'OO Beglstered 1951 J-D 100* Not'00 Sold 3* 1951 J-D 100 108 Dook * Imp 1st our6s.l913 Green L gug 5s. 1946 . Oct.'00 10194 140 W M J'ly'00 116 107 Bid. Beglstered 1951 J-D Mem Dlrlstg4s.. ..1951 J-D •i'0'3* 147 Registered. 1489* 1951 J-D StL Sou 1st gug4i... 1981 M-8 103 148* 148* IndDeo4Wlstg6s....l935 J -J 104 lstguarg 5 102* 104* .....1935 J-J 100 96*101* Ind D14Ialitref g 5s.. 1948 A-O 108 Int * Great Nor— 106 109 1st gold 81 101*106* ....,1919 M-N 123 IdgoldSl..,,,, 91* ,1909 M-8 8dgold4s....,,, 56 1921 M-8 Iowa Central lstgoid Ss.1938 J-D 115* 92* Feb.' 99 M-N M-S 120 M-8 116 A-O no* Erie 1st ext g is 2d ext gold Si. 3d ext gold 4*1 4th eit gold 5s J-D Sthextgold 4s 1st oonsol gold 7s. ....1920 M-8 oonsol gold id 7s.. 1920 M-8 1st rle lstoon g 4s pr bds.1996 J-J 1996 J-J Registered lit 0011 genlleng 4s.. ..1996 J-J 1996 J -J Registered Buff N T 4 Brie 1st 7S.1916 J-D gold 6s. ...1908 J-J Buff* S 1908 J-J Small Chic * Brie 1st g 5s... 1982 M-N Jeff BB 1st gn gold 5S.1909 A-02 Long Dook oon gold 61. 1935 A-O Coal 4 BB 1st gn 6S.1922 M-N 108 Last Sale. Week's , 147 98* Not 00 87* 83 88 Range Range or Dec. 7. Cen. (Con)— Bt Louis DIt g 3s Beglstered,... 111%116 112*113* 118 95 87 108* 110 111 117*121 108* May'00 lgtn Jol&B 1st g5s... 1941 M-N 109 KUi Lex A 8S. SmOAO. Him Oort 4 No. S*eLeh4NY. Hureka Springs 1st g 6s. 1933 1921 Bt * T Hlit oon 6e 1st general gold 6s, ...1942 1933 Mt Vernon lit 61 Snll OoBr'oh Istg5s..l930 »>4Indlitoongug 6s.. 1980 Fargo 4 80. flM0hM4 8tP., Flint * Pere g 8s. ..1920 let oonsol gold Ss.... 1939 Pt Huron DIt 1st g 5s. 1939 Fla Oen * Pen 1st g 5s. .1918 1st land gr ext gold 5sl930 1943 Oonsol gold 5s It 8 ft V B Bge. Stt StLftSF. Fort 8t C D Co 1st g 4*sl94 Ft 4 DC-lot g 4 -6i 1921 It 4 Rio Gr 1st g 8-4S.1928 1. 1157 2. Price Friday, 2 "8 EXCHANGE SI Week Ending Dec. 7. 5S J'ne'99 105 Dul So Shore 4 At g 5s. 1937 J -J *115 East of Minn. S«*8tPM4M aitTVaAOa. 8m. So Ry Wllk4Baslstgu g5sl942 H«* 113* Ang'00 Des Des rle * Pitts. S«« Pa Co. Bioan4L8up. 8m 04 NW. 122 112 141 Oct.'00 Page (5 pages) BOND8. • • 107 1st con g4*s. ........1986 ImproTement gold 5s. 1938 Rio G 80 gn. See Rio Gr So. 1947 1919 1923 1920 1928 Jan. I ., . N.Y. BTOCK Ask. Low. High. No. Low. High Bid. 18<i* Nov'00 190 122*124* » 137 137 137 148 1 186 103 102% Nov'00 102* 107* 139 140 Oot.'00 138 141* 140 140 Ocu'98 138*4 136 Not'00 133 137* is 2 132 122 118 122 104 103* Oct.'00 103* 106 116* 116* Not'OO 118* 182 108 Aug' 98 146*148 ...... 148* 146* May'00 Del Lack 4 Wwtern7i..l907 Morris 4 Bssex lit 7s. 1914 1871 7s i' -^?i 1915 lstoon guar 7s 1 915 Registered PRICES 4 7 (Given at foot op 7 Ga» Securities. 100 Kansas City Gas A40 5s 1933 Bid. Ask. 20 30 100 1 98 Laolede Gas— N Y Stook Bxoh. 40 46 Lafayette (Ind) Gai M4N 45 55 1st 6s 1934 Loganspt 4 Wab Yal— J4D 45 55 1st 6s 1935 65 75 Madison (Wis) Gas— Stok A40 il04 106 1926 lit 6s 141 1140 Newark Gas 6s 1914 68 Newark Consol Gas ..100 66 J4D 1105 106 6s 1948 New Bng Gas 4 O—AmBq tonL 1st. 4NW m 4 at p Stt Ohio Bet Ch Stt Ch M 4 8tP Dm July. lOrttoa consecutive pages).— GAS, TEL. <& 7ELEPH., do * Due April. Gai I Due January. Securities. Ohio & Ind Con Nat & 111— Ohlo4Did— 1st 6s '26J4D Bid. Ask. 28 45 33 60 Peoples Gas 4 Coke— N Y Stock Philadelphia Co— See Bos ton L ProTldenoe Gas. 50 t 95* St Joseph (Mo)...... so 5s 1937 jftj { 92 Si Paul Gai— Stock.. 45 Oonsol 5sl944....MftS i 78 Syracuse Gas— Stook 8 Ist5sl946 J4J Western Gas (Mllw) Is— Btt N Y St Bx list. Due 1 85 Bxoh 1st. 40 95 50 October. I Bid. Ask. Teleg. Ac Teleph. Teles. oV Teleph. American Dlst Tele— NY Stook Bell Teleph. of Buffalo. . Central & South Amer Cues 4 Poto Teleph— Stk 6s 1909-29 J4J Commercial Cable Ommer Union Tel (NY}. 110 100 67 103 170 118 10 B nplre 4 Bay State Tel. 76 Brie Teleg 4 Telep— See S tOkHx 89 Franklin 89 97* 101 i And 47 mi 120 105 70 Mill* 175 195 ••••If Llat 56 interest. tPrloe per sh are. . j . , . . . i THE CHRONICLE -BOND 1158 2* Week's tinee Last Sale. Jan.l. Bid. .1927 Iowa ex lit gold 7s... 1909 7s . 122*4 133)4 122)4 183 124)4 128 . . . • 1990 F-AI 2d gold 4s .1944 1st extern gold 5s 71% DalAWa 1st gu g 6s. 1940 MKATof Tlstgng5s.'42 M- 8 99% . St Louis A Iron Mount— •••te «••••• 93)4 71 96% 96 • 111% 119 98 •••• •••••< • ••••< 94% 73 • • • 106 • •»• • Registered 1937 67 225 165 96 99% Bale 103 94 107 160 94 36 99% Latt Sale. A-O NYANB. SmNYNHAH ••••• ••••( New River 115)4 Bep.'OO W 99« .. . 1938 . . Registered Small COAT Is 112)4 115)4: 1st g 6s. Imprrmt A ext g 6s. 1934 N A Ry lstoong 4s. 1996 94 10594 107 Nov'00 • •••«•* •••••• • • • Solo North 1996 1996 1922 gug5 VAN Blstgugis.1989 Illinois. SssOhl A J-J Small J-J MobJackAKClstg5s.l946 J-D Mob A Ohio new gold 6s. .'27 J-D '110 1945 1945 Mortgage gold 4s 1st extension gold 6s. 1927 1938 General gold 4s 110% NW. M-N 110% M-N 130 A-0 129 F-A 131 A-O 99% A-O A-O J-J 106 M-N •101% •esse •••••• • 127 Q-J* 123 M-8 F-A 8«H Montgom.DlYlstg5s.1947 St L A Cairo gu g 4s 1931 J -J • < * * . • mm* 109 108)4 96b NashOhatAStL 1st 7s. 'IS 1901 2d 6s 1928 1st con gold 5s 1st gold 6s Jasper Boh.1933 1917 1st SsMcMMWAAl. 1917 lst6sTAPb Nash Flor A Bhef. See L A N NewHAD. SmNYNHAH N J Juno RR. ShNY Cent. New A Gin Bdge. SssPennOc NOANBprlorlleng6s.l915 N T Bkln A Man Bh. See L I. N Y Cent A II R 1st 7s.. 1909 1903 Registered ....1997 G8%s 1997 Registered. Debenture 6soi .1884-1904 Registered.... 1884-1904 Reg deb 5s of... 1889-1904 Debenture «.. 1890-1906 1890-1906 Registered Debtoertsextg 4s.... 1905 1905 Registered Lake Shore ool g 3%s 1 998 1998 Registered Mloh Cent coll g 3%s..l998 1998 Registered Beech Ork 1st gug 4s. 1936 1936 Registered 1936 3d gu gold 5s 1936 Registered Cart A Ad 1st gu g 4s. 1981 Clearfield Bltum Ooal Oorp lstsflntgug4sserA.'40 Small bonds series B.. '40 . J-J J -J A-0 '129 Registered... 3%S... Registered • J-J ill 107 107% 101%Nov'bo J-J j 110 Sale 110 - j J-J iio" iid% jM- 8 105 m-8 M-8 j -d J -D 107 ioo% ••••IVJi*! NY A Harlem g 3%s 2000 2000 North lstg 5s.. 1927 Registered Rlv gu g *o prise Friday 118 Bonds 1YJ — o i 4s. '22 J - Bid. 116 90 , , , , , A 10894 105 95)4 "99 IS 93 98 6 98 95 94 97 108 110% • ••• •••••• •••••• •••••• • Ml IMMI MM* • 108 » S • I • •MM •••••• 107 Oong Bale 102 • IMM »•••• MM* • • • • • ••Ml • • 83 110 76 110 115 113)4 • • ••* »• 131 184 1 MM* 120 77 . Sale 112% 99 83 108 188 J'ly'OO 107" 107 Nov'00 101% 102 10S 9f 20 ' 105% 841 108% 106% 101 105% 70% 70% 228 68% 72% a 85% 70S 67% 70% 131% 113% 131% Nov' 105 104% Sep.'OO 132 125 112 101 J'ly '99 135 118 97% 101 124 18 109 Nov'00 118 101 4 88% 68% 88% May'00 UB% Nov'00 118 180^ 110 109 90 60 110 105 103 Oct-'OO 111% 117% 111% 116 Nov'98 124 131 108 116 103 194 Oct.'00 103% 117% 181 102 Nov'00 101% 103 122% •104% «••••• ••« • •«•••• ••••• ' MMM •••• lie?* 116 •100% '188% .,.. •135 181 •••• •••••• • • •••••• •••••• 181 J'ly'OO May '97 • • •MM • ••••• 111 MMM Ml • MM* MM* ••••• 103 • • » • • ••••• Not'97 • 33 189" 180' 133 MM*. MM ••MS* •••ft Jan.*00 180 101 187 Aug'00 • • • • Oct.'00 • IMMI 111 118% •••• • •••••• ••••• MMM 117 May'b'd ISi MM MMM 108 109 Aug'00 117 131 * 98 MMM ••••I • • • • * 112% Mar'00 • • 116% Nov'00 alO 114 117% 116% 116% 10 113% 117% •••••• MMt. 113 Nov'98 108% 109 109 Apr'OO 100% 100% 20 100 101% 135 189)* 1 137% 187% 186% 187% 187% Nov'00 131 108 •••••• •••••a ••••• MM MMM MM* •••••• •••••• • 124 181 124 M-N Q-F M-N J-D 101 Oct,*00 116%Nov'00 117 J-J Feb., 1921 77 104% 118 111 •••••• 181 -8 -N .1986 tr reo 1st pd... 91% 103% Mar'00 116 M-8 3d g 5s ldgi%s 111 104 Q-MII 11194 J'ly'OO 95% Nov'00 75 Apr '00 117 93 ••• 39 180 98 180% 101 NOT'97 Nov'00 . • 13694 1 18 »••••• ..•••« s * • • • * J •110 98% 100 114% • 186% 130 118 % 129% 90% 100 97% 97% Oct.'00 107 -J 116% 117 114 . '.'.'.','.] 29 99% 97% Bale 108% J-J UNJRRAOangen4s.l9i4 M-S 1S1 ••••• J'ly '99 4s.. 1986 110% 110% PeoABast. SmOOCA BtL PeoAPekUnlstg6s...l93l 119 1 PlttsClnAStL. SssPennCo. P O A St L. 8*4 Perm Co. 107% O0V98 Pitts ClevATollstges.. 1933 A-O PlttsFtWAOh. S«« PennOo. 181 NOT'98 1982 J-J 105)4 104% 109% Pitts Juno 1st g 6s 105V MM** •••••• •••••• ••••• • MM* 103 Nov'00 • Me 101%1049j Wtts A L Brie— 3dg5s 1988 A-Ot 11* Pitts MoEeesAY. See N YCen 131 Aug'00 »••• 119% 131 (MM •••••• 90 J'ne'PP 1916 J-J rlttsP AF 1st g6l 126 Oct.'00 126 128 118% 116% 116% J'ly'OO 127% 137)4 Pitts Bh A L B 1st g 6s.. 1940 A-O 115 127)4 Nov'00 87% Jan-'OO 1943 J-J 1st oonsol gold 5s 106 Jan.'OO 10f 106 99% 101 100% Oct.*00 108% 106% ntts A West lstg is... 1917 J-J 100% 106)4 Nov'00 99% 101% 100 100% 100% J P M A Co oertis 116% May'00 • • • • 116% 116% Pitts Y A Ashlstoon5sl937. M-N 93 99 931 83 • • • Reading Co gen g is.. .1997 J-J 91% Sale 90% 87% 88 88 Nov'00 • • • 1997 J-J Registered Oct.*00 131 12'i" 183)4 180 • •••••* »••••• •••••« Ask. 118 Sun A Lewis lstg 115% 111X116% •ensaoolaAAt. 8*4 LA Nash 111)4 11494 Peoria Deo & Bvansv— 13 109 J ClAMarlstgngi%s.l935 M-N DRRRABgelsfguisg.'S6 F-A AUegh Talgengn g 4i.l942 M-8 Pine Creek reg guar 6s. .1932 , 106% 1919 1919 1943 GrRAIei 1st gug4%s. 1941 5s Registered..... Cong 4s 106% 107% 103 186 188 • Nov'00 133% Oot.'00 181 Nov'00 183 108 95 J-D A-O M-N 1921 Oon ourrenoy 6s reg.. .1905 Feb '00 Nov'00 118% Nov'00 109 109 110)4 Mar'00 108% Deo'97 119 119 Sale 137 • MAN n:% Atlantio Provldenoe Telephone. Southern A Atlantio Mo Pao . J'ly '98 113 Intematlon Ocean .. 116 , . Mexican Telegraph ,., • • • • Mexican Telephone— See Bosto mist. Hew Bng Telep.— See Bos ton Us t Northwestern Telegraph 120 123 SI Y J Telephone.... 105 170 AN 101 118 186% Apr '99 •••••• iV6" Oct.'00 135% 139% Bensselaer A MM MM t MMVI • ••I* •«•••• ••*• 108 • • • • these are latest bid and asked this week, Teleph. •S1920 101% 108% 107)4 J'ly'OO D M-N M-N A-O Hudson River Telephone 116 Paolflo 107% MMM MMM 110 139 130 129 113 F-A 183 A-O 118% J-D •101 M 88% -J 116 J-J Gtd 8*4 s ool trust reg. 1 9 87 M-8 C BtL A P lstoong 5s. 1932 A-O Registered 1982 A-O OlevAPltts oons 1 7s. 1900 M-N Oengug4%sser'sAl942 J -J Series B 1942 A-O Series C8%s 1948 M-N Brie APlttgug 8%s B.1940 J-J Series C 1940 J-J NACBdgegengug4%s.'45 J-J P OCA St Loon gag 4%sBerlesA. 1940 A-O Berles B guar 1942 A-0 Series Ognar 1942 M-N Berles D is guar 1945 M-N Series E guar 3%s .1949 F-A Pitts Ft W AC 1st 7j. 1912 J-J 3d 7s 1912 J-J Id 7a 1912 A-O* PennRRlst real es g 4S.198S M-N Oonsterllngg 6s 1905 J-J »••••• '.'.'.] OUT8IDE SECURITIES Teles:, dte Sold A Btook •••• 9i D R W AOgoon lstext5s.'22 A-O* OsweARSd gug5s..l915 F-AI RWAOTRlstgug5s.l8 M-N A Blk • J -J 1931 q-m Registered 1940 J-J is 1940 j -j Registered Bat O A St 1st gu g 3s. '89 J - Utloa 105 • • • • • •MM MM*t 119 110 104%Feb.'99 s • • • ( I • 111% 10294 108 •104)4 .... 109)4 8ep.'97 101 101)4 108 Nov'00 J-D A 10894 113 108)4 111 25 108 110 Aug'00 Nov'00 Nov'00 m-n 101 101 101)4 M-N •100% 102% J'ly'OO F- A 97% 98 97)4 97J4 F-A 95), 96% 95% 96* F-A * 96 ..., 97* 97*4 F-A 96 Sep.'OO j- j 111% 106)4 Aug'00 j-j 106 J'ne'98 J-J 120 J-J MMM ••• F- 31 110 109)4 Nov'00 110)4 11094 110 106 105 1909 M- 8 • g 5s. 1946 Registered 5S.1938 6s NY* SnOsMW PaoOoastOo— 1st A-Ol J-J MahonO'lRRlst5s.l934 J-J *186 rUttsMoKAY— lstgu 6l.'S2 J-J 143 1934 J. J 1S« 3d guar 6s McKeoAB Vlstgfls.'18 J - J 196 Mloh Cent— 1st oon 7sl902 M-N 105 1902 M-N 101^ 1st oon 5s 08 ••••••*•••••••« Oswego A Rome. flii.NTC O O P A St P. •••• • 101 • • ••• • • • • Nor Wis. SssOStPMAO. Nor A Mont. SssN.Y.Oent. Istsf gi%s....l917 Sfsubsldyg6s 1910 PennOo— Gu lstg 4%s. 1921 J1903 j -D A Tollst 7sl906 ••tea* Deo'99 103 135 Jan.'OO 8t$ 80. Pao. Panama 1997 J-D 109 1997 J -D KAAGR lstg Ry Oal. aoof Missouri. 8*4 ClnA81stgL8AM87s'01 A-0 Dot Mon 98)4 96)4 5s.. 2d 6s hlo RlverRR 1st g 6sl936 J-D General gold 6s 1937 A-0 lstg 4s 1901 J -J Ore A Oal. 8u So Pao Oo. 3 186 130)4 100)4 100* Ore Ry A Nav See On Pao 16 104)4 109)4 Ore RR A Nav See Un Pao Ore Short Line See Un Pao •••••• ••••• 108 109 107% 109% J -J •116 MM 113 Deo '99 J -J sate •••• •••••• ••«••• Lake Shore oon 2d 7s 1903 Odd l 130)4 130)4 100** J'ly'OO J -j 116 116 114 3361 J -J 118% U4H 118 . 96)4 185 IMM »M }«-* 114 • • • 130 Om AStL 1st is gu. 2361 Registered • • • • 10 182 Hi • •••••• £a 1933 Q-F OIndAW. SssOOOABtL. J-J OonvAOswelstgug5s.'42 J-D ••••«• Moh A Mai Istgug4s.l991 M-8 N J JunoRgu 1st il.1986 F-A 'ib'4% Registered 1986 F-A NYAPntlstoongug4s.'93 A-O «••**• Nor A Mont 1st gn g 5s. '16 A- O 117% West Shore Registered otis St Paul A Dal 1st 106*4109*4 Nor Nov'00 .,..8047 1931 1917 lstoog 4s 1988 Wash Cent lstg is.. .1948 Nor Pao Ter Oo 1st g 6s.l93S •»••• 11 i'36" 13o' 19694 13694 126), 120*$ J'ly'OO 120)4 126 Bale 8fl% ibo 86% 83 87 . . Mohawk A Mai. S««NYC4H Monongahela Rlv. See B A O Mont Cent. S$* St P M A M. Morgan's La A T. See 8 P Go Morris A Bssex. See Del LAW MtM ••••• unit 186% 196 185 189% • W BtP*NPgeng6s...l92S 110% 110% J'ly'OO 189 135 • 1 Registered Mob ABtrm prlorlleng 5s.'45 J-J Nov'00 Aug'00 • • Miss BIT Bdge. 8*4 Ohio A Alt Oot.'97 194 114 GenoonryAldgrtg5s'31 A-0 113% Bale 118)4 118% 85 108 11394 North Ohio. 8»$ L Brie A Northern Paolflo— Genoonstampgtdg5s'31 A-0 111 1125, 118 Nov'00 113 109 1929 J-J Prior lien r A 1 g g is. .1997 Q-J 106% Sale Cnlf Aref g4s 83% Sale 83* 76 84)4 254 84)4 1929 Registered Registered 1997 Q-J •••• «•••• •••••• ••••• W lstg 5s.. '36 J-J ••••• •IMM ••••«« •••« Generalllen g 3s Verd VIA 8047 Q-F+ 'V6% Sale M-ti •It** •*•••• •••••' • 104% SssLonglsl. NY8AW. S««Brle. NY Tex AM. 8t* 80 Pao Oo. 92 J'ne'00 107% 105% Lack AW. SssDLAW NYLHAW. SssBrie. 101% 90 107% 106% B*t Hrle Convert deb oerts $1,000 8mall oertfsflOO Housatonio R oon g 5s. 1 9 37 107 Low. High 104% 108% 108% 105% Atk, Low. High. Sale I. NY • 83% tinee Jan. Y AHar. SssNYOAHud, N • 76 107 100 Dec. 7. A-0 •MM •••••• •MM •••• M-N 138 NHADerbyoon5s...l9i8 M-N 118% 88% 97)4 NYANBlst7s 1905 J-J 114% 73 64 1st 6s,.,,.,, 89 95% NYA North. Bu N Y O 1905 J -J 110% A H. "9*6" "90 N Y O A W. Ref 1st g (S1992 M-8II •106 Regis f5,000 only.. .1993 M-8II 97*4 88 92% 99)4 NYAPut. SssNYOAH. NYARB. •• Range Week't Range or L lstg 4S.1937 A-O 107% NYA Qreenw Lake. [Vol. LXXI. 3. Price Friday, NYNHAHartlstreg4s.'03 J-D •••• • Page Bid. St 113)4 Nov'00 113 116)4 Nor A South lstg 5s. ...1941 103 II494- 121)4 Norf A West-Gen g 6s.l93l 119 11814 99% F-A 107% J-J il5% 9994 •••••• •••«.. ••• 99%Oct.*00 83)4 Nov'00 Sale LeroyAOVALlstg5s'26 J-J . IMMI 97H 1917 M-St 1917 M-St 1920 F-A 1920 F-A Pao R of Mo 1st ex g 4s '38 2d extended gold 6s 1938 Nov'00 98 • J-D KO F-A 80 J-D MoK&HlstgUg 0S...1H42 A-0 105 .... 1906 M-N 113% 115% Mo Pao— -d 7s 1920 M-N 118% ...„ 1st oong 6s Registered 1st ooll gcfd 5s Registered NoVOO 117 97 sale Sher ShASou 1 stgu g 5s.'43 A Pao lstg 4o.... 1990 Tebo A Neosho 1st 7s. 1903 Trustg 5s 184)4 M-N 93 93 92 95 MM! MMM 100%Nov'99 M-N MMM 90 Bep.'OO BooneTBdgOogng 7s..'06 M-N 3^ N.T. STOCK EXCHANGE Week Ending Dec. 7. Low. High N Y Ohio A 143* 161 Atk. Low. High. 149 May'00 . 182)4 May'00 183 133 J-D •145 J-D •!83 South West ex 1st g 7s.'10 J-D •126% Paolflo ex 1st gold 6s 1931 A-O *128 1934 M-N • 1st oons gold 5s 117), let and refund. 4s. ...1949 M-8 97% Sale Mtn A St L gu. SMB084N M A P 1st 6s st 4s lnt gu..*36 J-J •!••• MUM M 88MAA 1st g 4s lnt gu.'26 J-J •*•••• M StPABSM oong 4s lnt gu'S8 J-J MMM MMM IMMI fiflnnUn. See St PM AM. Mo Kan A Tex— Istg4s.l990 J-D 93% Sale Minn * St L— 1st g (5 pages) Range Range or PKIOES BONDS. Price Friday, Dec. 7. BONDS. r.T. STOCK EXCHANG E W BEK KUDIBQ Dec. 7. . 110 Due Jan. t DA II. •lob A Dan. SssBouth Ry. Rio Or West 1st g 4s. ... 1939 J-J 100% Bale 88 98 TTtah Cent 1st gu g 4S.1917 A-Ot Dae July. I Due June. I Due May. 1 Doe Hot (Givbu at foot of 7 consecutive pages).— TEL., Teles, ofc Teleph. Bid. Ask. A Cable— See Phtla list. West'n Union Teleg— N Y Stock Bxoh Electric Companies. 170 Allegheny Co Light Co... 165 46 41 Brush Kleotrlo Co Teleg Telep 11 Consol Bleotrlo Storage. Bddy Bar. See Bleotrlo Mfg C0..25 1 14 14 Bdlson Bl 111 Co NY— N Y Btook Bxoh Bdlson Bl 111 Co Brk— N Y Btook Bxoh 11 9 Bdlson Ore Milling Co.... 3 Hlectro- Pneumatic Trans 8% 80 80 Fort Wayne Bleo. Co 6s.... 86 Horifli AniMU'iM 10 Electric Companies, Bid. Ask. 100 88% 100% •4% 190% 88% 87 85 Bep.'OO a These are option 1 BLEC, FERRY Ferry Co^'vaniss. Bid. ferry Companies. Ueneral Hlectrlo Cv— N Y Btook Bxoh 90 Brooklyn Ferry-Stook Do pref.— See Boston L 1st. NYABlstSsloil.JAJ 113 Hartford (Ct) BlecLtCo. 175 19 Con as'46-See Stock Bz list. 18 Mo Bdlson Bleotrlo 59 Metropolitan Ferry—5s.. 108 61 Do preferred N Y A N J Ferrt— Narragan. (Prov)BJlCo.50 t 98X JAJ 106% IstSs 1946 Rhode Island Bleo ProCo. 119 83 N Y A B R Ferry—Btook. 69 91 United Bleotrlo of N J... 76 { 96 l»t 5s 1922. MAN 74)4 4s 1929 80 United Bleo LtAP Co pref SeeBal tollst N Y A H iboken— Stook. HubF'y 'st 6s.'46MAN 1111 4%j 1939— See Balto 11 st JAD I 94% Oon. os 1946 86 Woonsooket (R I) Bl Oo.. . I Ana Interest. dc Ask S3 115 110 107 71 98 83 118 95 tPrto* per «n are 8 2 Dec. . 1 THE CHRONICLE -BOND 8, 1900.] BOND3. Deo. Price Friday, Dec. 7. H H. Y.8TOCK EXCHANGE Wbbk Ending » Week's Latt Bait. N. Y. STOCK EXCHANGE Jan. 1. Wbbk Ending 7. Ask. 78 Low. High. ye. Low. High ... Bid. Rio Gr Juno litfjig 51.1939 1940 Bio Or So lit g 4s 105 77 94 1940 Guaranteed BONDS. since 5 Boon A Pltti. ftuBKi P Borne Wat. A Ox See NY Cent. Salt Lake Clitgsf 6s. .1913 Nov'99 78 "si Nov'00 81 71 89* 90* 90 90* 81 West •110*4113 1906 1906 1906 1931 1931 1987 0..1919 • • • • • t 111* 129 110 Sale Sale in* in* 128*4 129 114*4 Oct.'00 88* 90*4 J'ne'OO J'ly'00 Oot.'97 9044 Sale loo 90 100 93 105 Ft BAVBBdg lstg 6i. 1910 Kansas Mid 1st g 4s. .1937 So. See Illinois Cent, atLBW lstg 4sbdefa. 1989 94* Sale 71*4 Bale 3dg4slno bond otfs.. 1989 94 71 Gray's Pt Ter 1 st gu g 5s'47 M 143* 1933 Redneedtogold4*i 1933 Registered 19S3 Dakota ext gold 6s 1910 MontBxt lit gold 4i.. 1987 Registered 1937 Mlitdlvlltg5i.,.1908 Registered........ 1908 Nordlv 1st r 4*.... 1948 Registered 1948 Minn Union 1st g 6s.. .1922 MontC 1st gn g 6s,... 1937 Registered 1937 lstgaargold GI.....1937 Registered 1937 Sale Registered 117* Nov'00 H3* 143* 116* 131 137 148* i 118 ; 15* Nov'00 I '108% Jan.'9H Nov'00 132 Apr '00 131* Nov'00 128 ii'S" Sale 115 118 Apr'97 118 lie* ia'6" AprV99 138 5s. ,..1938 1938 at P A Nor Pao. See Nor Pao atP AS'xOlty.SeeOStP MAO SlePres A Ph lstg 5s. 1942 M-8 1 SeeSoPacGo BFAN P 1st 126* 1934 4s.. 1934 Ala Mid lstgug 5s... 1028 Brans A Wist gug 48.1938 811 8 Oca A G gu g 4s 1918 B. is flee Nor A nOl* W ref gug4s...l949 MexAPao lstg....Ss'31 GllaVGANlstgng5sl924 HousBAWTlstg 58.1933 lstgug 5s 19S3 HATO 1st g 5s lnt gu.1937 Oong6sintgtd 1912 Gen g 4s lntgtd 1921 Morgan'! La AT Ist7tl9l8 1920 NY T A Mexgu litg4i.'12 gug6s... 1907 Guaranteed gold 5s.. 1938 lit OreAOallstgtdgSi.1927 SAAAPaiilitgng4i.'43 BoPof Argu litg6i.'09-10 BPof Cal lit gold 1st gold lit gold 1st g 6s.. 1905 6s ier B..1905 0s 1906 1912 6i oon guar g5i,.1937 Stamped 1905-37 BPacof N Mex lit g6i.'ll a P Ooait lit gu g 4i. 1 9 37 TexANO lit7i 1905 Sabine dlT lit g8s.. 191 Con g5s 1943 Southern— it eon g 6i 1 994 Begistered 1994 Mem DIt 1 st g 4-4*-5s 1 996 Registered ...1996 AlaCenR lstg 6s. ...1918 AtlADanv istg 4s .1948 AtlA Yad lstggu 4S.1949 1st . i . OolAGreenv 1st 5-0i.l916 T Va A Ga Dlvg 5s. 1930 Oon lit g5i 1956 B Ten reor lien g 4-5i. 1 93 Begliterod 19S8 Ga Pao By lit g 6*. ... 1922 Knox A Ohio lit g 6s 1925 Blob A Dan oon g 6i. .1915 quip link fund g 5i.l909 Deb 5s stamped 1927 Bo Car AGalitgSi.. 1919 1 lateit kid Ferry Companies. A 83d SU Ferry. lit mort 5i 1919... JAD Union Ferry—Stook. ..... Iit5i 1930 MAN • • Feb. '98 •••• mtii Oot_'99 Jan.'99 112* 109 108 87 Aug'OO 118 117 HI Nov'00 91* 114*119 117 J'ly'00 117 104* 105 92 85 100 87 "85' Sep.'OO 106 92 86 118*114* 111 100 105 107 105 OreShortLlne Istg6sl92^ V-A Ore Bb L— lit oon g 5i.l946 J-J Non-ctim lno A 5i... 1946 Sep.* Utah A Nor lit7i 1908 J -J Gold 6s 1926 J-J 129 116* Nov'00 H»H 111 102* 57 106 105 '35 95 "9 399 "a 102% 117 88 110* 118 106* 84* 98 1 78 110 100 103 80 180* 100 107 101*4 108 103* 106* HI 110 45 100* 104% 1^5*4 180 76 II oh U7* 1 106 105 Nov'00 106 121 106 Mar'99 102* Oct,'00 '16*4 117* 45 105 90 Sale uo* "l2 128 116 130 08 }05 108 111 117* Bale 1 Sep.'OO 111 104% 105 03 130* J'ne'OO 110% 106* 97 39 I 110* . 93 Sale Hale Sa'e bale 106)4 97 at 78 40 1578 37* 110* ... . S6 93 1C9* W 94 117* 111 U0* 102* 103* 121*4 See N Y Cent Va A Pitts. See B A O. VaCentAP lit g6i. 1911 J -J Wheel'gAL B lit r6i. 1988 Wheel Dlv lit gold 5H928 -J Rxten A Imp gold 6s. . 1930 V- A 1st con 4s 1949 Wilkes A Bait. See Brie Wil A Sioux F. See St P & Winona A Bt P. See O A N "8* 106* 83 94* 32* 97 39*4 *8* 118 91 96 109* 118 1 108 3 16 UO e«t 1C7 121*4 95 94* , US 118* Nov'00 May'00 131*4 Sale c • W Bid. 76 {105 30 i 93 US A-O 138 68* 96* 23* 85 Sep.'OO Dt Dt J 82* A 100* A Sale Dt Dt "ssh "si' Sale 82* A D 107 110 106 P4*4 • • • J 112 ..... o O J 84 Sale .... 112* 84 Nov'99 H0*Nov*00 134 120* 120* LouliRyColitoongSi.1930 •larket BtORy Iitg6i.l9is -s st Bt Ry gen tr g Si.. 1997 « way 67th v litogSi.1943 -.! 113 Jl Aug'99 98* Ang'OO 77 a'l5 80 A B 80*4 114* 107 110 110*4 110*4 110*4 113 117*4 119 105* 107 104* 109* us 116* Nov'00 Nov'00 Ang'OO 118 J 107 107 116 78 110 U9 M N 106*4 107* 99 * • • KM Oot.'00 o •108*4109* 108*4 Nov'00 o *10»* ... 110*4 Ang'OO o •HI*..., 110*4 Nov'00 o .... 119 J'ly'00 •J Deo'98 • • • J J J 104* J 108* 113 Sale sale A-O 100* J-J M-N F-A F-A "88" J-D A-O , Sale J 120 J IIS ft Sale 8 108 8 109* Sale 106 Ask. 85 108 31 93 5 t 120* 108*118 119*183* 118 119 101 104 103 Bondi dae Aug. Miscellaneous. Miscellaneous. Par. American ridge Co Com Preferred , Preferred Am er Hide A Leath sr treierred 1919 ••• 8s. . . . 101* 109* 109 * MAS Press Aisoc'n. .100 Steel. * Sale 96* 84* 33 100 107* '"i 113 2 90 122 91 99* 98* 88* 460 95 109 122 Nov'00 98* 83* 88* 97* Mar'98 119* 113 104 95 J'ne'OO J -J J -J 129 7 1 Dae Jan. 133 11 13 11* 38* 40 100 Un Soda Foun—Com. 100 1st preferred 100 8d preferred 100 American Surety 50 Vmer 8trawboard....l00 IMIII 30 Bonds 6s FAA 4m Typefo'rs— Stook.100 00 75 Amer. Woolen—Com.... 9 j* 9<* 133 1 98% 106 109 114 123*4 I Do* Hot. Preferred.,...........,, Amer Wringer oom. ..100 Bid. Ask. 71* 25 90 28 100 50 00 15 180 82 8 10 31 "58 82* 77 108 83 78 12 114* 135 6 11 136* '95* 'V'S" 111 115 117* liiji •••• OIIH !•••* •••Ill 23 113*118 100 93 Nov'00 99* Nov'99 U8*Sep.'00 115% 118* 102* Nov'00 138 139* 102*4 no* 113 148* , 14 • Theee are eftloa Ss A SmCar 100 100 Br lit 0i. Bng Preferred A Bid. 118 4 18 3* 15 71 Anthracite Coal Co aarney salea. & MISGELL'8, Preferred Bergn 186 t Deo' 97 91* Oet»'98 115* 115* 90 128 128 Oct.99 •••••• 99 116*188 118*188* 119* 119* Oot.*99 Miscellaneous. Par. American Wringer pref. Amer. Writing Paper,,.. Silas "09* 98% 109* Deo'99 consecutive pages). —FERRY Preferred 84 5 2 t Due Maroa. • 183 118* . I 66 * 128 ( Dae July. 10* American Sorew......250 1810 Amer Sheet 98* , Ask. Miscellaneous. Par. 43* 43*4 Amer Sheet Steal pref Amer ShipDuUding ..100 93* 93 10 timer Graphophone.. .10 Preferred .. 10 t It Amer Mntoscope 106* 113 9 F-A 123 Sale J-D 130* RegUtered 1943 J-O 119 iso' OolA9thAv lit gn gSi.1983 M-8 128 Registered 1993 M-8 ".*x AvAPF lstgug 5s.'9S M-8 123 Registered ,,,, M-8 U et W 8 B! Chio) 1 stg. 4s. 1 9 38 F-A 88*4 Registered ..1938 F-A ul 5*1 Ry A L 80-yr g 5s 1926 *-A <!nn 8tRy 1st oon g Si.1919 J -J <t PanlOlty Cab. eg Si. 1937 J-J 114 Sale Guaranteed gold Si... 1937 J-J Third Av lit gold 61. .1937 J-J •133' On Bl (Ohio) lit g5i... .1945 A-O W Chio 8t«0-yrlitenrSi.'28 M-N •••• 40-year oon g 61 1936 M-N ••••* GAB A BLHCTRIO LIGHT BON D8. Atlanta G L Co 1st g 5t.l947 J-D Boi TJ Gai tr otl • t g Si '39 J-J 78 Bklyn U Gai lit oong5i..'46 M-N 115 ChGLACCo. SeePGAOOo OolumbniGai litg 5s.. 1988 J-J Con Gas Co. SeePGACCo. Detroit City Gasg Si.. ..1933 J- 1 96 Det Qai Co oon 1st g 5s. .1918 F-A Hd Bl 111 Bkn. Set K Co ELAP EdElIU. SeeNYGABLHAP «qGasLNYlstoong5s..'33 M-8 118 Bq G A Fuel. See P G A CCo. Gas ABlec BergCo oon g 5s'49 J-D Gen Bleo Co deb g 5s... 1922 J-D i 39* Sale Gr aapGLCo lstg 5s. .1915 F-A K C Mo Gas Co 1st g 5s. 1922 A-O Bid 77 75 American Chicle Co Amer 184 136 (Given at foot of . Aoker.Mer A Con 8s 1903 98 101 Amalg. Copper— Set Stock Exch, list. Am Agrioul Chem JS5 37 Amer Bank Note Co. ..50 t 47 60 Amer Bloyole—Com 7 e Preferred. 27 29 Bonds 5s MAS 70 75 115 114*4 119 78 114 101* J'ly'00 109* 109* 105* Nov'00 aad aiked tali week, 93* 91* 116 115 Jan.'OO 119 119 H8 117*4 Nov'00 Nov'00 133* Nov'00 *I00 N 24 185 194 134* 133* i 113*AUR'97 94* 94* 110* Nov'00 136 J 88 Jan.'99 100 . . 112* 94* J o 87* 348 106 110 118 Sale J -J . . 106*Nov'97 104* 104* 67 101 104% 276 100 118* 119* 118 108 Aug'OO 107* 108*4 108 108 109* Nov'00 J .1 90 85* Sale A 106 79 ....„ 110 87 "25 89* 115 »»% 118* 98* 108 84 90* * 120* Feb '00 J "102*104 78 79*4 -J -J Sep.'OO 5 D8. Kings Co El lstg 4s. 1949 109 112* City A 8 Ry Bait lstg 5s 1922 Den Con Tr Co litg 5i.. 1933 109*4 US Den Tram Co oon g 01.1910 J -J 13 81 87 WetRy Co litgug 6i.l91l J -J • 112* 83* . • 1C8 "96" Bale M-S • I » • -N 105 o 110* 85*4 99* 100 M M 100* 313 97 100* 99% J'ne'OO 99% 99% W 83* 84* 148 80% 86* WiiOentSO-yr lstgen4s..'49 BTKEKT RAILWAY BON 110 May'00 110 110* BklynRapTrgSi 1945 Atl Av Bklyn imp g 5sl934 105 Aug'00 104* 106* BkCltylstoon 5s.l916.'41 99* 100* 97* 103*4 BkQCoA8oongug5s..'41 100 110 103 Nov'00 Bklyn On HI 1st g 4-5sl950 105 Ang'OO 100 105 94*4 NOT'OO Sale 70* Nov'99 85 N 100 N 103* N 105 83* 365 Jan.'99 114* Nov'00 lia* 11 a* 114*4 116 111*113 .1 OUTSIDE SECURITIES 10th 91* 95 W . So arte* Friday 110 -J 107% Sale Registered........ 1947 j -j OreRyANavlitif g6il909 J -j Ore RRANav eon g 4i,1946 J-' 102* 103 . Sep.'OO High 118*4 J-J GalHarA8Alstg6s.l910 3dg7i 1905 Noof Cal Nov'00 No. Low. West Bbore. Begistered 1949 Mort guar g 3*s .... 1929 Begistered 1929 litg6i Deo'99 104* A AN Wist gag 5s.. ,1941 CPaolit lCii 91 W Beab A Roa 1st 5s 1926 Oar Cent 1st oon g 4s. 1949 Bher Shr « So. See M K A T Bll B Oca See Say F A Sod Bar A So 1st g 5s... 1934 Bo Car A Ga. See Southern. Southern Paolflo CoGold 4s Cent Pao ooL.1949 ReUstered... ....1949 AG &3* 94* * 123 102 88 124*4- IstgSs Bt John's Dlv 1st r 112* J . J'ne'OO Jan.'00 I. 119 -J I Utah Central. See Rio G W Utah A North. See Un Pac. CtlcaABlackR. SeeNYCent Ver Val Ind A W. See Mo P. lrglnlaMld. Sei8outhRy. Wabash IstgSi 1939 M-; 2d gold 5i 1939 F-A Debenture lerlei A.. . 1 939 -J Series B 1939 -J litg 5i Det A Oh Bxt 194 J-J 118 112 Des Moln Dlv 1st g4i. 1939 J -.1 125* 126* BtOhaiBridge Iitg6i.l908 A-O Warren RR. See Del L A Wash Cent See Nor Pao 100 105 Wash OA W. See Southern 83* 85 WestN YAPa litg 51.1937 J -J • e • Geng3 4i 1943 A-e Income Si... .April, 1943 West Nc Car. See South Ky. 06*4 Nov'99 113 108 109 eee J-D t ! sf g58...191» lit oon g 8s. 1934 Boioto Val A 138 1 . 129* 134*4 UnlNJBRAOOo. SeePaRK Registered W 17* 121* •• '112* '112* «2 < 102*105 108" 108*4 104* Nov'00 104 108 • Iitg0itr.l916 J-T Tor 1 118*4 NOV'00 102* W TStLAKO Jan. * J-D A-O Ham A Buff lstg 4s. 1946 liter A Del lstcg 5s. 1928 "avi iY«% 115*115* V n Pao— RR A gg 4s 1947 137*4 Feb ww 1'6« 116*4 — 8avF A 85 . M Bt Paul A Dul Set Nor Pao Bt rani A Man 3d 6S.1909 1933 1st oonsoi gold 6s 9AAAP. £5* 53* 78* 290 879 95 UK Ask. Low. High H2*4.T'ne'99 A-O US* 113* Sep.'OO F-A 114 HI Jan.'OO A-O 104%Oct.'00 M-S J- D 113* 114* 113* 114 -115 82 Nov'00 Moh. US 115 J-J 112 114 Nov'00 A-O 111 ...2000 3d gold lno. 5i. Deo. .8000 To) litgSl 193S Weit'n dlv litg Be.... 1935 General gold 5i 1935 Kan A lit gn g 4a. ..1990 Tol Peo A litgold 4S.1917 AOO since Last Bale. J-D 1st gold 5i . ASFlltg 1st oon g 0s. 1911 See L A N. 10 110* 118* dpok FalliANor litg 6s.l93u 3 1 0*1is* Statist By lit gu g 4*1.1943 Sunb A Lew— See Penn RR. 19 121*4 129 24 108 116* Syra Ring A N Y. See DLAW. I ebo A N. Sf e M K A T 102*104 er A of St L litg 4*i. '89 litoongoldSi. .1894-1944 79 St L MBgeTergug5i.l93C 98* 100 Tex A N O. See So Pao Co. 91 95 TexAP By B dlv lltg 6s. 1905 111* 114* 102* •i:«x C Range Week's Range or • M-N M-N F-A J-J J-J 1936 SAN Ala. Nov'99 MIH 111* •104 . Will 5s Gtd stamped. South* Dlv litR 5s,1947 Cent Dlv lstg 4*. 1989 L F Series 1936 W O ANW litoy gu 41.1924 lit b 6s Pteroe O A 8t L A 8FRRg4s....l996 at 4-5s 5s B m-8 M-8 M-8 M-S M-8 M-8 M-8 1911 1916 1921 1926 1926 1931 GenSi 8t 1st trust sold Ss 6s D Small St Sd gold 0s Claee A 3d gold 6i GlailB 8dROld6s ClassO General gold 6s General gold 5s B Series SerlesC 6s 1159 4. 7. Bid. 98% 04 19 Dbc. .. Price Friday, Lee. 7. Southern— (Con) Virginia Mid ier AOi.1906 Series Series UoAGllstg 3-48...1947 L A Cal. See Mob A Ohio. L A Iron Mount. See M P L K O A N. See Wabash. L M Br. flee T RH A of Btl. 8t Louis A San Franclsoo— Page (5 pages) Range X— Range or PRICES • . Company—Com.. 50 79 M* 105 J* , 103* 187* 136 ^ondAMort Guar ..100 895 80S" British Columbia Copper 19* 20 6|And interest, t Prioe p er iba re. Preferred 60 5 J 9 . .. . , THE CHRONICLE-BOND 1160 Price Friday, BONDS. N. Y. STOCK EXCHANGE Week Ending Dec. 7. Jan. 108 96* 96* 108* 108 Bale 108* 96* 96* I 83 106 Sale 108* 109* 14 Sale 109«3 Sale 94% 94* 13ft 64 91% HI 111 1st oonT g 5sl910 1st oon s 5s. ... . . . 1»»5 120* 109 120 109 Nov'00 •••sea ••••«( >••••• ••••«• 107 Patersou A P G A B g 5s.l?49 Peo Gas A O lstgng 0s.. 1904 1904 1943 194 1st OOIlSOl g 68 111 103*111 95 91 106*110 117% ISO J'ly '00 • Refunding g 5s 107 107 115* Nov'00 109* 106* Ch G-LACke ConGCoofChlstgug5s'36 6s .'05 BqGAFCh lstgug5. 1947 Mo Fuel Gas 1st gu g 1949 5s. GA UticaELAP 1st sfg 58.1950 33 ooi tr g 5s... < • e • 116 Nov'00 • 137 Deo '98 109* 106* Sale 109* 106% 6 107 15 105 Mav'00 Aug'00 107 103 103 107 105 103 105 107 105*J*ne'00 ColCAIlstoong8s...l902 F-A ColCAIDevCogug5s..l909 J. 192* Pleas ValCoallst g sf 5 S.192S RooUA Pit C* 1 pur na 5s 946 gnu Ok Coal 1st g s f 6S..1912 8dg5s ) TennCoalTDiT Istg6sl917 Blrm Dlv 1st oon 6s. 1917 Can C M Co 1st gu g 6s..'22 De Bar C A I Co gu g 6s. '10 WhLBAPCCo lstg5s.'19 109* 109 103 105 107 M-N •101* F-A 66' A-0 J-D J-D M-M J-D A-0! J-J J-D F-A 108* Nov'00 97 90* 105 105 Oct.'00 Feb 105 32 Jan.'OO 102 108 105 93 32 113 110 105 109 83 101* •101* 102 Oct.»00 100*104 110 Sale 73 99% Sale 71 100 70 9«%100% 73 19 63 105 113* 70 Sale Sale 11 Jan.'00 Feb Apr '97 108* Aug'00 105 M-N Bid. 94 23 66 30 16 70 355 •111 113 Ask Common— See St.Ex. list A Hook Coal A I, pf d JAJ 88 8* Compressed Air Co ,oi.»Glid oar Heaung.100 46 65 Oonsol Flrew'ks-Com.100 100 Preferred 10 Col lstg 5s 1917 ... Cons Ry E ec Lt A Equip .lisoi Rubber Tire. ,. 00 U* 3* , Pref Corbln Cabinet Lock. 100 Corbin (P. A F.) Co.. ..25 -«mp«' 8h & En Bldg.100 , 28 850 t 85 08 Diamond Match Co ... 1 00 300 91 78 6% 25% 20* 37 18 41 37 8' Boat Preferred Hleotrio Vehicle .... Preferred Empire State Sugar..., 1st 6s .............. Empire 12 4 81 6* a-* 19* Co. of America. Pref .................... Electrio 44 90 48 60 80 75 131 Distill. 45 19* 82* 100* 100% 6 . 10 40 Steel Preferred Brie A Western Trans. 50 49 50 172 Fidelity A Dep (Bait). .60 tl09 6 General Carriage 4* 57 88 Genera) Chemical. ....100 96 100 100 Preferred. Gorham Mfg Co-Com.100 110 Preferred 100 120 9 Havana Commercial. 10* 45 42 Preferred 55 Heok-Jones-J Mlll-Pf.100 1st 6s 1932 M&S 76 85 Her'g-Hall-Mar(asst p'd) 10 Preferred (asst p'd) 100 30 Hoboken Land A lmp't.. 110 106 5s Illinois EleoVeh Trans.10 \ 1% 1% International Blevat.100 Internat'l Pump—Com.. Preferred Internat Silver— See Stk. Do Do do do Inter-State OU Iron Steamboat. 6a 1901 pref. bonds. 100 JAJ John B Stetson—Com.100 Preferred t 27% 74% Bxcti. 87 97 74% 2* 45 96 115 100 Journeay A Burnham. 100 8 Preferred 100 90 Lanston Monotype.... 80 70 Lawyers' Surety 100 95 Lawyers' Title In*. . 100 155 . . • » 13* 11 118 24 8 Sale 112 104% 104 28* 75M list. 46 its 74* 4 100 130 30 80 106 116* 118 108 Due July t 105 7 40 8 3 13 11 U% 11* 44* it* 100 18* 84* 85 81 85 78 8 Gramophone. ...100 15 National Saw— Pref. .100 National Salt— See Stock Exch, List National Surety iuu 140 1S5 National Tube See NYStk £xch. list. National Wall Paper. 100 55 N. E. Bleo. Veh.Trans..l0 4 N Y Loan A Imp 100 70 85 Biscuit 6s 1911. MAS 114 New Jer Zlno A Iron.. 100 *••••• »•••< N. Y. BLVeh. Transp.100 6* 7 Nioholson File Co 68 50 Otis Elevator— Com 27* 28 Preferred. 87 88* Peok, Stow A Wlloox. .35 t 27* 29 Pennsylvania Coal 50 430 Pitts Bess 50 87* "27% Pittsburg Brewing 50 1 23* 34 Preferred 50 t 43% 44 Pittsburg Coal. ....... 100 24% 25* Preferred. 100 83* 83% Pitts Plate Glass 100 185* 167 Planters' Compress .100 24 25 Pratt A Whitn— Pref 1 00 46 55 Procter A Gamble.... 100 430 Preferred 100 198 •••••< 1st 6s— See Stock Bxoh. list. Royal Bak Pow pf 94 ,. 95 Rubber Goods Mfg 30 Preferred x 81 83 Russell AErwin. 25 02 06 Safety Car Heat A Lt.100 116 125 Seacoast Packing Co ..... 22* Preferred 55 Simmons H'rdw-Com.100 140 150 Preferred .....100 185 150 2d preferred ..100 140 150 Singer Mfg Co 100 630 600 Standard Oil of N J. .100 795 800 Stand Und'rg'dCable.100 909 210 Sloss-Shemeid- See Stock Exch list. Southern Cotton Oil. .50 t 55 8tandardConpler.com. 85 40 Preferred 138 120 NY • . . ANJ Tel gen g 5s oy. '20 NoWestn Teleg. See West. Un. West Union— Col tr cur 5s.'38 Fd and real est g 4*. 1950 Mut Un Tali fd 6s. ..1911 . . BUt Isl R T 6s'13AAO JAJ Stillw-Bierce A 8m-V.100 60 Storage Power 11 18 Swift A Co 100 1C3* 103* 1910-1914.. .JAJ 1101 1st 5s 102* 1st 2d 5s 1926 Susq Coal 6s 1911. ...JAJl 118 120 Texas A Paotno Coal. 100 75 87 1st 6s 1908 AAO |107* Title Guar A Trust.. .100! 410 42 Trenton Pott— Com.. 100 4 1 i • i • • i C 8 2s registered coapon 110* 109* 114% 115% 137% 137% 112% 112% U 8 of Mexico s f g 5s ox 1899 b These are prices on be Small... Missouri— Funding. ..1894-95 Nortn Car— Consol4s...l910 Small 0S 1919 So Carolina— 4*s 20-40.1933 Term—New settlem't 3s. 1913 Small Virginia fund debt 2-Ss. 1991 Registered 6s deferred oertfs I Due April. I miscellaneous. 1st preferred... ...,100 Banks. Broken' Qu Ask. otati one. 190 Bowery* Chatham .... Citizens'..... Colonial* .... Columbia*... Commerce... Continental Corn Bxch*.. Domes. Bxch Bast River. 11th Ward*. Fifth Ave*.. Fifth First 14th Street*. Gallatin Gansevoort*. German Am* 130 German Bx* 860 Germanla*. Greenwich*.. Hamilton*... Hano'r(new) . HldeAL'atb Imp A Trad. Leather Mfr. Liberty Lincoln Manhattan* Market A Ful 500 105 145 415 125 516 182 235 385 900 200 885 me Mechanics'.. Meoh A Tra* 96 880 Mercantile Meroh Bxoh. 180 177 Merchants' 110 100 109* 102% 108 102* 184* 121 Apr '00 131 108 108 Aug'00 109* 105 128 Feb. '98 130 Mar'OO 94 94 1 . 60 Metropolis*.. 080 Mt Morris*.. 195 5* 10 SO 4 t 48 t 70 72* 35* 86* ••••*• Miscellaneous* 90 85 170% 94 Banks. Bid. Qu Brokers' .... 170 170 430 285 Peoples'* Phemx .... ...... 100 475 Prod Bxoh*.. 125 Republic .... 285 Riverside*.. Seaboard .... 88* SO 50 90 88 185 •»•••• 83* 140 5 190* Brokers' State of NY* 140 12th Ward*.. *;oo 28dWard»... 100 Union Sq*.... 285 West Side*. 875 400 YorkviUe*.. 885 . ... N. Y. CITY. Atlantio Tr. 380 Bankers' Tr. 801 105 . • ••• 130 830 1 830 805 Bowl'gGreen 140 Ctl.Rlty BAT 850 Central Tr'st. 8000 City Trust... 985 190 190 460 800 3100 300 Meoh A Tra*. 870 Merchants'. 160 *S5S 390 Farm Ln &Tr 1400 Fifth Ave Tr 440 Guaranty Tr *855 Colonial Continental . Kntok'rb'ok'r 430 Manhattan • ••)•• MortonTrust N Y L I A Tr N Y Sec A Tr North Amer. '••••• • • • • • 85 110 •••••• •*•••• • * • ••• ••« 100 285 Nassau 370 Nat City North Side*.. 170 *•••* 195 Soherm'rh'n* 150 17th Ward*. 106 305 155 115 210 *••••• 350 . >••••« 330 . Mercantile . 800 Merchants' 300 Metropolitan 4!0 ••• Real Est Tr't StandardTr't Tr.Co.of Am. Tr.Oo.ofN.Y. Union Trust. Unit. States.. '*•••! ISO ..... USMtgATr. 840 otati on*. Trust Cos. 110 •••••• *••••* .. Qu 240 386 .. Bid, ...... BR'KLYN. Broadway* 110 26th Ward*. 138 135 Union* Wallabout*. 105 810 320 650 '85 Seventh Shoe A Le'th *103 aSJ People's* Bid. 87 Banks. Ask. ot-atio n». 155 *««•* Paclflo*...... Oriental* Par. Westingh Air Brake... 50 t'90 Worthing. Pump, nfd.1 no 110 110 118 Kings Co*.... 100 Manufaot'rs. 280 Meohanios*.. 190 . 13 MAS 5s 1949 185 600 94 V. 9. Cast Iron Pipe Preferred U 8 Envelope— Com.. 100 100 Pref U 8 Glass—Common.. 100 100 Preferred Va. Coal Iron A Coke. 100. 235 180 ISO 98% 96% 8 1 Bale 0* 35 0* Sale Due August. aThese are option sale*. Ullll !•••• •••< 106% 130 Oct.'00 93% Sale 598* 5th Ave*.... 100 •• 105 96* Nov'00 90 Brooklyn* • 181 100* 108* Oct.'00 187* 112* 109* 109* 108% Feb.'9> 105 Bedford*.... 210 • ue* 108* Aug'9>» Oct.'00 Sep.'OO *••••• *••••• • 97* 698 to the pound. i 100 SU 108* 111% 114 117* 114 118* 133*188 1* *• 12 181% 138% 112% US* Nov'00 North Amer. 200 . If 1C5* 108% list 108% 118% 697* Nov'00 19th Ward*.. 100 90 •••••• 3* 104 110 850 . 10 105 New Amst.*.. 875 New York Co. 1500 N Y Nat Ex- 130 New York.... 300 500 308 320 4000 4100 148 476 275 190 *204 135 309 103 140 150 ...... 2500 3000 225 3000 • itm 160 174 •••• 400 435 00 1755 t 8 113% "l0 118*1163 113* 113 300 500 290 Broadway.... 240 Butch'iADr.. 85 171 35 Nov'00 Nov'00 110 188*4 188 Nov'00 138H 138* -38* 118* 113 Nov'00 173 Am Bxoh.... IHIH ••••ft •••••• Ast. 5 100 118 v recedifM.l »e 110* 110 115* 115 ila* 110 , N. F. CITY. America* .... *475 109 *...*• ...... seventh pa 114* 104* 107 100 BANKS & MISCELL'8. 65 55 100| 111 Bid. 3 10 110 J-J J-J J -J F-A J-J J-J J-J J-J A-0 J-J J-J J-J J-J J-J Bid. Par. see 4 Bonds due January. Trenton Pott— Pref.. 100 Trow Dcreotory-New.lOO Union Copper Union Steel A Chain.. .. Preferred Union Switch A Signal. 50 Preferred 50 Union Typewr— Com.100 ...... of Ave dollars STATB SECURITIES. Alabama—Class A 4 to 5.1906 J-J 1914 Nov'99 1C4* 106 105 105* log* Sale 105* 1 5* 109* 110* I0b% Nov'00 109* IK* 110 110 FOR'GN GOV. SECURITIES. 4s.. , ...... ...... U 8 3b registered U 8 Ssooupon U 3 3s reg small bonds. 1918 U 8 3s cou small bonds. 1918 U 8 4s registered 1907 U S 4sooupon 1907 U 8 4s registered 1925 U 8 4s ooupon 1925 D 8 5s registered. 1904 U 8 5s ooupon 1904 Louisiana— New oon ••••to •*•••• 113% 105* 105* 110* Sep.'OO iC5*8al6 daily recora SHI &1 1 MtMIMIMIiMltllMMt Class B 5s 1906 Class C 4s 1906 Currency funding 4s. ..1920 Dlstof Columbia— 3'65s.l924 Oct,'99 113 1930 193C 1918 1918 ..,,, 101* 100* 100* 101 114*110* 113% GOV. SECURITIES US 2s 113*111* •••• ••tt* Northwestern Tel 7s. ...'04 U. 8. •••• •••It! *••• »•••• 1 Nov'00 100*Oct.'00 109 40 tlttM •«•••! • •«• nit) •••••< 101 . l . > Q-J Q-J J-J M-N M-N ' ALB • 1st g 4s... 2397 Registered 2397 Erie f AToeltrgsf 5S...1926 88 84 111 19 30 J'ly '00 2d preferred 18 30 Feb '97 (Given at foot of 7 consecutive pages) 2d 6s 1919 MAN tfarkeen Copper. ,,,, L *ea Nat Construot'n. pf d Monongahela River Coal. Preferred ...50 Monongahela Water... 35 Mosler Safe Co 100 National Carbon 100 Preferred 100 Nat Enam'g A Stamp. 100 Preferred 100 Nat'l • C B*qk • • 113" Nov' 99 113* Due May. Ask 80 101 if 1. •*••* J-D J-J M-8 105 X MM • * PropCo lstg 4*s 5-20 yr'17 Yuba Wat Co oon g 6s. .'23 Wat Works 1st 6s. '06 Vermont Mar 1st s f 5s.l910 TBL.E. A TBLBPH. BONDS. 66% 84 70 70 Liortliard 80 305 10* 17* 70* 78 Crucible Steel Preferred.. J-J A-O • Oot'99 • Miscellaneous. Par- Bid (P)— Pref.. .100 100 rfaOlson Sq. Garden— 100 6 100 85 70 45 Cmesebrough' Mfg Co ib'6 Chicago A Alton RR— See Stk. E x. list 103 Oiafltn (H B)-lst pref.luO lOx 100 101 103 id preferred .' 28 109* 109 87* 95 2 104 103 j-j'i OUTSIDE SECURITIES ' 89% 89% J'ly '99 •Wo prioe Friday; these are latest bid and asked this week, Okateaugay OreA Ir 0s 1 Ones A O Grain Bl— lno. 105 10S '00 Jan.'99 J-mPkAImpSs. SeeCenNJ mDkAlmpSs. 100 85 100* -J MISCELLANEOUS BON DS. Adams Bx—Col trg4s.l948 M-8 104% Preferred '00 105 99% A Gamb 1st g 6s. .'40 J-J 1946 Stan Rope A T 1st g 6s. 1946 F-A sjs.lsn»llaneous. Par 100 Celluloid Co Cent Flrew'rks—Com.100 97 90 106 110 105 106* 109 109* Procter deb g 6s.' 13 89 Oct.'00 I s f 108* 108% 80 105 90 89% Gramercy Bug 1st g 6s.. 1923 A-0 1910 J -J 99 Steel Co deb 5s 70 Non-oonv deben 5s.. .1913 A-0 108 * Sale 108 Int'l PaperColstcong6s.'18 F-A 93 Kniok Ice (Chlo) Istg 5s. 1928 A-0 106 Nat StarohMf g Colstg6sl920 M-N 106 8 LeathCo 58 95*Jan.'97 May'97 May'97 .»•••• «••••* Cot Oil deb g 8s... 1900 Qu-F Extended 4*8 .... 1915 spirits Mis 1st g 6s.. 1915 M-S Thread 1st col tst 4s 1919 J -J InoomegSs UBBnTelColstsfg6sl91S 55 107 J -J J 100*103* Ask. Low. HiaK N' Low 26 85 88 81% 6S 72* 73 73* 88 110 110 Aug'00 • 90 Com OableCo tine* Jan. so. F-A 08.191 Ter Cupples Station & . Nov'00 55 Am F SAOntLand lstg L 8t Range "Si S c Sale J-J M-8 108 M-N •••• Iron 8teamboatCo6i...l901 J-J Mad 8q Gard lstg 5s.. .1919 M-N ManBchHALgeng4s.l940 M-N Newpt News SAD D 5s.l 990 J-J! ••« Met T A T 1st s 105* 105* MutOnTelOo. f g 5s.. 1918 SeeWnUn. 109% Nov'00 MAN'F'G A INDUSTRIAL. BarASCarColstg6s..l942 A StYd ool g 5s. 1 9 1 J-J Non-cum lno 5s .... 1 907 MAM Id gr 3*s S A.1911 Hack Wat Reor 1st g 5s. 1926 Head B Co 1st s t g 6s.. .1931 Hoioken L & I g 5s 1910 «* CahCoalMln. SeeTCIAR learf Bit Coal. SeeNYCAH Am Am Chlo 8 COAL A IRON BONDS. De Bardel C A I. See T C A I. Or RIt Coal A C 1st g 6s. 1919 Jeff AOlear OAI 1st g 5sl926 88 g W A WH1st oontr 5s'48 F-A 71* IstSs ctfs. Jo 8p Val •*••*. ... 106 Bl 1st g 103* 116* 118 106 •••••• < .1947 lstgug 5s 37 Registered..... Coupons off. •••}??„ Col Fuel Co gen gold 6s. 1919 F A I Co gen s f g 5s 1943 Col Last Sale. Week's 7, Det Bd 3dgtdg6s.. 2 Range or Dec. 7. fc Bid. k'n 96* Purohasemong4s....l94» • Dec. [Vol. LXXI. 5. Price Friday, 3"« BONDS. Week Ending . . Page (5 pages) n. y. stock exchange High Love 194? . 1. . . . BklnFerryCo NYGBLHAP..g5s.l948 Westn Gas Co since 5 1 PRICES Range Ask. Low. High No. Bid. 1919 Small Mut Fuel Gas Co See PeopGss Registered Week's Mange or Last Sale. Dec. 7. KlnwCoElLAPg5i.....'S7 l Purchase mon0s : »S« Hd Bl II Bkn- 1 stcon g 4s. 39 Lao Gas-L Co of StLlstg 5s' 1 Trenton .. .. . Washington. 4C0 1300 760 284 300 885 805 1*5 1390 400 1600 300 1800 . . ...1 380 810 800 I 1650 BR'KLYN. Brooklyn Tr. 418 Klatbush .... 166 Franklin..... 275 Hamilton.... 255 Kings Co.... 850 L Isl L A Tr. 255 Manufaot'rs. 807 190 Nassau 330 People's WllUamsb'gfi 800 . t • •• 338 810 Banks marked with an asterisk (• are Btsis oanka. I Pnrooaser also pay reek eorued Int. t Price par share. * Sale at Btook Mich. or at auotion this week • 1 • , December , . THE CHRONICLE. 8, 1900.] 1161 — Boston, Philadelphia and Baltimore Stock Exchanges A Daily and Yearly Record. Sales jy Share Prices— Not Per Centum Prices. ACTIVE STOCKS. of the Range of Sales in Dec. Monday, Tuesday, Dec. 3. Saturday, Dec. 4. 1. Wednesday Thursday, Dec. Dec. 5. Friday, ft Dee. 7. 6. 1900. Week. Indicates unlisted. Shares Lowest. Highest Railroad Stocks. 81* 81% 303 804 804 71% 71% 0% 9 1S-1H 81 11-18 32 16« 15% 11* 11% 88% 88% 73 73 82% 84% 17% 93% 88% 84% 17% 98% 98% 86% 26* 79 79% 2% 2% 98 % 202 303 203 71% 71% 71 5-16 71 9% 9% 81% 13-16 15% 15* 15 13-16 18 11% 11% 11% 11% 39% 29% 89% 29% 72% 71% 73 72 83% 82* 8'% 81% 34% 31% 33% 31% 17 17% 17% 17 94 94 93% 91 9 15-16 95% 98 85 91 25% 2i 79* 79* 3% 8* 78 8 95 38 79* 2% 201 901 70% 71% »% 8% b 15% 15* 11% ii* 29 29 71 71% 80% 80* 83% 33% 16% 16% 94 94 28 79 79 158 169 331 3 25 87 89* 84 830 835 820 20 20% 19% 20% 20% 31 59 59% 59 59 59 69 39 36% 39 40% 40% 39 108% 109* 109 109* 106* 110 49% 4n% 48% 49* 48 49% 67% 67* 9% 9* 8% «% 16 101 130 15 101 *128 31 168 322 85 x820 159 327 57* 57* 9% 9% e% 6* 15 101 15 101 57% 57* 8% 9 101 101 78 79% 79 8% 93 38 78 90 26 28 •35 8* 3 8% 3% » 53 158 333 80% 84 •830 30 59 835 20% 59 38 109 38 106 49 57 8% 6* 101 129 38 80 820 no sale STOCKS . MAT" MISCELLANEOUS. Allonez Mining (Bost) 35 3 Amer. Cement! (Phil) 50 Amer. LAS... " 8% . 8% Arcadian (Bost) 25 "a'i 21% Arnold Mining. " 25 6% 6 26 27 Atlantic Mln'g. " 25 " 28 25 29 Baltic Mining.. (Phil) 50 Beth Steel 17% Boston iSlaoLt.( Bost) 100 187 189 45 Cambria Iron.. (Phil) 50 87' (Bait) 1 00 Canton Co 85 Oenten Mining. (Bost) 35 15% 18% " 13 Central Oil 25 14 Con. Lake Sup. (Phil) 50 * " Pref 3 60 Deny. Bessemer " 5 10* DeLong &E " 10 " Diana State St 10 4% Domtu Coal Df (Bost)100 113 114 " DomlronAS.! 87 ., 28 EastonConEl.(PhU) 50 16 Olson Bl 111.. (Bost)lOO 317 220 f H MeoCoof Am!.(Phin 60 Franklin Min'g.(Bost) 35 " general Elect. 100 Pref " 100 Ind-Egyp Com!( Bost) 100 IntButHASM " 10 IntSPADynam(Pbil) 50 Isle Hcyale!... (Bost) 96 Manufao Rub. .\rnu> 50 " Pref 80 MarylandBre w. ( Bait ) 1 " Preferred.. 100 825 30% Cambria 30 59 . 16 »% 6% 6% 6% 101 101 129 88 59 52 9 55 8% 3% 18% IB 3% 3% 3* 72 72* 1 % Palmetto Co.... (Phil) 25 Parrott 811 ACop( Bost) 10 Penn EleoVeh. (Phil) 50 " Pref 50 Pennsyl Salt... " 50 Pennsyl Steel!. " .... " Pref! 100 Phlla To " 60 PlantersCamp!(Bost)100 " 25 yulnoy Mining. 25 Rhode Isl Mln.. " Santa Ysabel G " 5 Susquel AS!..(Phil) 6 Tamarack Mln. (Bost) 25 Tidewater St.. (Phil) 10 Torrtngton"A"(Bost) 25 " Pref 25 35 UnCopLAM'g " UnBlLAPowpf (Bait) 50 United Fruit (Bost) .100 25 Un Shoe Maoh.. " " Pref 25 US Mining.... " 35 47% 48 • • • « t .... s 75 95 >•••• 28 23% 995 IowaDiv 4S.1919 AAO Chloago Juno Ss.1915 JAJ AWM 300 ie • • • 9 3 38 133% H5 33* 35 24 10 10* 83% 8 34 . • • • • 3% 4 45* 46 { 99% 100 SlOl \ 89 2116 \ 77 I 15 •01* 90 116 80 50 {116% |lG3% IlOO Sioo 2103 mo gu 5s. '31 MAN al00 gen 5s.'31 JAD 2103 AAO i { ' e 1st 5s g. '25 SAG 1st 7s.'08 AAO 4s g. .1911 JAJ 1st oon lno 3s g non-oum 3d oon lno 3s non-oum.. 104% NYANEnglst7s.'05JAJ J 1st mort 6s.. ..1905 JAJ {109 Rutland 1st 6s.. '02 MAN {103 Torrington 1st 5s 1918... 1 West End St 5s. .'02 MAN {108 4*s 1914 MAS { Deb 4s 1016 MAN Bonds— Baltimore. A Pot 5s A Ch 1st 7S.10O7 96* JAJ 117% AtlG-Llghtlst5sl017JAD 70* ••tea* 114% { i 93% {113 {112 { 98 68 {105 {116 {105 1118 { 82% 26 13 1% % 95* Mar. 103 107% 9 ..•*•< 100% .*•«•< -••••• • e* • 112 103* 123 .1912 JAJ MAN 118 Chas City Rylst 5g '23J AJ Chas Ry G A El 5s '99 MAS CharlCAA ext5s.l910JAJ 3d 7s 1910 ,..AAO CityASub lst5s.l922JAD CltyA8ub( Wash) lst5s'48 ColAGrnvlst5-6.1917JAJ Consol Gas 6s.. 1910 JAD 5s 1939 JAD Ga AAlalstpf 5sl945AAO GaCarANlst5sg.l929JAJ SeorgiaPlst5-6s 1922JAJ GaSoAFla lst5s.l945JAJ 105 97 Ext A Imp 5s.l932MA8 117 108 107 117 103 118 120 119 107 100 -•••• 110 119 104 114* 115 113% 114 104* 105 125 "68% 57 Maryland Brewing 6s Met8t(Wash)lst5s'25FA 130 123 New Orl Gas 1st 5s...Var 99 99 05 115 118* 98* 68* NewpNAOPlst5s'88MAN 106 107 Norfolk St 1st 5s '44. JAJ 110 NorthCent4*s.l935AAO 117% 6s 1904 JAJ 109 A 131 186* 127 110 98 ' MAS 111 2d series 6s.. 1911 MAS 119* 3d series 6s.. 1916 MAS 121 4th ser 3-4-5S.1931MAS 111* 83 38 14 ibo* 8eoAvTn(Pitts)5s'34JAD 116* Sav Fla A West 5s 34 AAO 113% iii" Seaboard A L 4s 1950.,,. 73>4 Loan oertf s 1902 Seab A Roan 5s.l926 JAJ 109% uEl LAPlst4*s'29MAN 90 89 UnRy A El lst4s'40.MAS 97* 97% Income 4s 1040.... JAD 72% 73 Ylrg Mid 1st 6s.l0O6 5th series 5s.l936 Ya MAS 111* (State) 3s new.'32JAJ Fund debt2-3s. 1991 JAJ 16 Jan. 8 Jan. 4 Jan. 1^ Niv. 83 Oot. 17 Nov. 37 May 29 840 Deo. 1 8ept. 26 ***Feb. 8 Mar. 5 62* June 18 85 51 Mar. 31 22 122 Feb. 98 35 57% Feb. 8 2 58% Nov. 8 8 13 Jan. 38 8% 18 14 30 25 26 18 Oct. 33 81% Oct. 83 103* Mar. 33 1 8 4 7 Nov. 26 140 38 Jan. 6% 8 Jan. 180% Jan. 11 1* 5 in. 25 9 Jan. 49% Deo. 7 Nov. 17 Mar. 38 53 66 I 85 paid. BONDS Bid. Ask. 93% 92% West N C oon 6s. 1914 JAJ 119 119% WestVaCAPlst6g.'llJAJ 115* 116% Wll A Weld 5s.. 1935 JAJ 119 Bonds— Philadelphia AlleVyBext7sl910AAO 135 Asphalt Co 5s tr otfs. 69 «9% . MAN 114 103 106 ChesAD Canlst5s.'16 JAJ 53 108 107* Colum8tRylstoon5s.'32 113 Con Trao of NJlst5s..'33 108% Del A B Bk 1st 7s.'05 FAA 117 EastAA 1st M 5s.'30 MAN 111% Edison Bleo 5s stk tr ctfs EleoA Peop's Tr stk tr otfs 99% 100% BlmAWllm 1st 6s.'10 JAJ Income 5s.... 2862 AAO Bq 111 Gas-L 1st g 5s. 1928 108J4 Hestonv M A F oon 5s.'24 116 HA B Top oon 5s.'25 A feO Indianapolis K C Sub B Ry 110 4s. .1933 1st 6s..'20 • • » « I JAD Lehigh Nav 4%s..'14 Q-J 112% RR4sg. 1914 Q-F 106 Gen M 4%s g. 1924 Q-F Leh VC'l lst5sg.'33JAJ 104 . Leh Valext4s..l948JAD • • ill 1010 MAS 188 2d 7s., Consoles 1923 JAD Annuity 6s JAD 126 186% Nat AspL alt col 5s 46% New'k Con Gas 5s '48 JAD 104% Newark Pass oon 58.1930 113% NYPhilANorlst4s '39JAJ 103% Income 105 126 113% 114 KnoxvTrac lst5s '28AAO 95 06 Lake R El lstgu5s'42MA8 117 Series 5s 1026.... JAJ Series B 5s 1026.... JAJ Pitt Un Trao 5».1097 JAJ PotomVal 1st 5s. 1941 JAJ 6 31 3% Nov. 5s'19JAJ Clt's*StRy(lnd)oon 5s.'33 104 118 Ext A Imp 6S.1901MAS 102 No BaitDiv 5s.l942JAD 131 Conv'rtlble 5sl 906MAN 100 6s.. Jan. 1% 137% ChooOkAGgen 1st 6s tunnel 1911.. JAJ Bal Trao 1st 58.1929MAN Consol 5s.... 1932 1 80* Mar. Ter 1st 5s. 1026 JAD BergABBrewlst6s'21JAJ B Boro Gas lst5s.'38MAS Cambrtalron 6s.l917JAJ Fundg Ss.1916 MAN 123* 195 Exchange 3%s.l930JAJ 118% Ry May Balls . Central 35 Mar. 2 118 1 161 Oct. Jan. 18 341 2 97 Jan. Atl City 1st 5s g..' 19 . •*)•• 93% 95 97% end 2136 Fr ElkAM V 1st 6s Unst'p'd 1st 6s.'33 AAO §136 Ulin Steel con v 5s. 1 J A J Debenture 5s.l913AAO AAO » • • 1104 1 70 {103 {108 MaconANlst 4%s '90MAS DGRA Wist 4s.'46 AAO 97 Domln Coal lst6s.'13MAS 2110 East'n 1st M 6s g.'06 MAS {118% '33 KCCA 1907 6s ee 1 Bait 37 Bonds— Boston. . . New Eng Tele 6s.' 16 AAO Ask BaltAPlst6sml 1911AAO 50 Westm rel Coal Winona Mlning(Bost) 35 85 Wolverine Mln. " Adjustment g 4s.. 1995 Boston Term'l 3%s 1 947 Bos Un Gas 1st 5s. '39 JAJ 1939 JAJ 2dM5s Bur A Mo Rlv ex'pt 6s. JAJ Non-exempt 6s. '18 JAJ Sick fund 4s. .1910 JAJ Ch Bur A y 4s. 1922 FAA 1st 5s.. 1937 BaltCPaslst5s.l911MAN 111 " JAJ NEGas AC Mar. 10 Jan. 20 Nov. 31 Nov. 26 Baltimore— Conolu'd. 3% .••••• C8PHorseCol.(Phn) 1 Utah Mining.. (Bost)4-85 Warwick I A 8. (Phil) 10 ATASFgeng4s.'95AAO Bid. Apr. 37 Feb. 14 Dec. 7 100% Nov. 33 = 23 Sept. 21 Aug. 13 i 4 8% . Curr't Rlv 1st 5s.*27 10 2 May 118 107 ....25 Atl Coast L ctfs 5s .JAD Bait Beit 1st 5s.l990MAN 178 3 June 2 1,340 135 1,541 351 6,803 42 19 695 11,436 13* 185 50 8,433 36% (Phlla.) .... 50 (Bait.) ....100 BONDS Anacostla 3% Jan. 30 70 . Boston— Conoluded. NewEng con gen5s'45JAJ N ECotYarn 5s 1929FAA Atl 175 81% "638 83,930 100 68,042 , 190 . AmG Chi .... 4 1 . Ask. Bid. (Bost) 100 . " <*x Telephone 10 NewEngGsAC ! " .... NewHavIA S.(Phil) 5 No Dredg(Bost) 10 25 Old Col Mining. " Osceola Mining. " 35 ChANo M paid Deo. Pept. 27 81% 10* Sept. 21 14% 82* June 28 100 600 45% Sept. 39 73% 50 70* June as 83% 134 301 Oct. 26 209* 2,637 62% Sept. 22 78 . . •84 65 16-16 32 3-16 Am Beil Tel 4s.. 1908 $4% 5 Nov. 97 Nov. 97 Aug. 80 40 Consolidated Gas , Coal .(Boston). ...100 June 308 95 June Brie Telephone " ....100 ., " Federal Steel ' 8,180 29%Juie ....100 467 43 Jan. Lehigh Coal A Navigation. (Phlla.) .... 50 Mariden Co! " 5,286 ....100 6% Mar. " N .tional Asphalt ! 1,395 ....50 5 Oot. " 30 15 Dec. Preferred! .... 50 New Eng. Cotton Yarn, pref.(Boston).,..100 36 96 Oct. " New England Telephone. ... 50 121 Oct. .... 100 " Old Dominion Copper ! 10,520 14 .... 25 Mar. Philadelphia Blec! 2% paid (Phlla.) 6,243 2 Julv United Gas Improvement !. " 3,877 U05 Sept .... 50 750 12 Nov. United States Oil (Boston) .... 25 WelsbaohCo (Phlla.) ....100 3,535 30 Ooc. Westingh. Bleotrio A Mfg. (Boston) .... 50 6 40 Jan. •' Preferred ... no 100 61 Jan. 3111-16 33 5-16 t Ex rights t 850 paid b 31 7-16 1116 MISCBLL.—Conoluded. t *«reuthaler Steel, .... " ,, Jan. Nov. 31 Nov. 17 335 50 " July 17 Oot. 25 Apr. 18 72% 5,209 .,..100 ....100 (Phlla.).... . 6% 6* 103 103 STOCKS BOND8 Mex Cent 8* Mar. 15 254 Jan. 2b 180 Jan. IS 240 205 187 Apr. 11 202* 5,889 119% Jan. 10 130 105 131 Mar. 12 146 890 122 Jan. 2 128 5,138 29 May 15 40 1,429 39 May 15 46% 2 J5 110 Jan. 22 139% 2,323 21% Sept. 25 29% 4,032 15 Jan. 4 20 38* 88* Dominion 104 104 108 49% 50 60% 51 57 57 66% 57 9 9 9 2* JAD K C Ft 168 K C F SAMoon 6s.'28MAN 144 K O M A B 1st 4s..'34 MAS 18 Income 5s 2 3% K. CAM RyAB 5s.'29 AAO 13% K C St Jo A C B 7s.'07 JAJ 36 "Hit L RookAF S 1st 7s.'05 J AJ MarHAOnt6s...'25 AAO 1% 15 167 143 10 " " . Alkali Butte & Boston Calumet & Hecla 81 880 105 52 103 •38% •52* •81* 64% 64% 64 wa asked prloes; made. a 31 Bid. Ask. INACTIVE RAILRO ADS.— Prices Dec. Amer. Rallwa s(Phil) 50 • III All * Charlotte(Balt) 100 130 Bos A Maine pf ( Bost) 1 C 170 171 100 300 Prov. " Boston A " 13 15 100 Central Mass... " 63 100 65 Pref " 100 180 " OonnAPassum Conn River.... " 100 270 380 36 Oon»olTrPitts!(Phll) 50 " 60 Pref! ,... 46 fia South A Fla. (Bait) 100 " 96% 96% 100 1st pref 74 " 78 100 Sd pref e'rmant'n Pass (Phil) 50 149* 150 48 60 Hestonv 78 " 60 Pref " 100 Inds Street EC FtS AM..(Bost)100 37 39 " 108 100 105 Pref 57 Little Sohuylk.(Phil) 60 Maine Central. (Bnst) 100 160 i'ae" 60 Mlnehlll ASH. (Phil) 50 50 Nesquehon'g Y. " 50 105 Perm.... " North 33 33* Pere Marqu'te.( Bost) 100 " 100 66% 68 Pref Phil Qerm & N.(Phtl) 50 9f% 50 Phlla. Traotion " 3% Bys Co General! " .. United N J.... (Phil) 100 271 25 32* UnPowA Trans " West Bnd pref. (Bost) 50 113 113* West Jer A 8 8. (Phil) 50 60% 50 WestNYAPa. " 15 16 Wis Cent, new. (Bost) 100 36 " 100 88 Pref Wor Nash A R. " 100 ISO 135 T. Preferred! 2* American 78 20% 20% 58% 59% 38% 38* IS* 101 139 82 830 65 Bid and 11,347 Amer. Agricul. Chemioal 128 128* 139 138* 138* 128*139* 80% 87% 28% 37% 28* 88% 38 31% 29 4* 4% 4% 4% *% 4% 4% 4* 4% 4% 4% 4% 124% 135 123* 134 123% 123% 134 124 124* 134* 124% 124% 13% 12% 12* 13* 12* 12% 13* 12* 12% 12% 18* 12% 4 2% 43 43 48 44 42 49 48% 49* 49 •61% •64% Nov. 19 15,851 7 7-168epU21 10 9-16 Apr. 5 30,373 24 9-1 6 J an. 10 33* Apr. 5 3,915 12 Sept. 20 17% Apr. S 5,758 July 20 19* May 4 8 8,080 20* Sept. 28 35 Apr. 27 3,380 14% Jan. 9 74 Nov. 21 ... 641 70* June 25 83 Nov. 21 2,745 28* Seot. 96 40% Mar. 31 8,750 5* Sept. 35 19% Mar. 30 368 91% May 29 94% Mar. 9 186 238 111 t95 57 241 *% " Preferred, 810 paid .... 50 128* 125% 123% 123* 134* American Sugar Refining!. (Boston). ...100 117 " 117% 117% 117 117* Preferred! ....100 " 158 157 157% 156% 157 Amer. Telephone A Tel.Co.! ....100 323 335 Boston & Montana 329 323 825 " .... 25 % 159 886% 829 95 |89 840 840 91% 93% 90% 94% 25 180% 133% 130% 134* 127* 130% 136 117% 117% 117* 117* 117* 117% 117 168 801% 301% 303* 203* 71% 71% 70% 71 10% 10 1-16 10* 81 1-16 31% 16%° 16% 15 13-16 % 11 11% 11% 11% 29* 38% 89% 29 71* 70* 71* 71% 8'% 8L 81% 81 349< 34 84% 34 16% 16% 16% 17 94 93% 93% 94 9 15-16 (Boston).... 100 Boston & Albany " ....100 Boston Hlevated, full paid.. " ....100 Boston & Lowell " Maine ....100 Boston A " ....100 Ctato. Burl. A Quinoy " ....100 Chlo. Juno. A Un. Stook Yds. " ....100 Preferred Ohootaw Oklahoma A Gulf.. (Phlla. >.... 50 " Preferred .... 50 (Boston).... 100 Fitohburg, pref (Phlla.) .... 50 Lehigh Valley Massachusetts Elect. Cos. T.( Boston)..,, 100 ....100 Preferred! ....100 Mexican Central (Bait.) .... 50 Northern Central (Phlla.) ....100 Northern Paoiflo " Preferred ....100 (Boston)... .100 Old Colony (Phlla.).... 50 Pennsylvania " .... 50 Reading Company " .... 50 1st preferred • " 2d preferred .... 50 (Bait.) ,.,.100 Seaboard Air L'ne " Preferred ....100 (Boston).... 100 Union Paoiflo " Preferred ....100 Onion Traotion, 817% paid. (Phlla.).... 50 (Bait.) .,., 50 United By & Blec. Co .(Boston).... 50 West End Street Miscellaneous Stocks. (Boston). ...100 Amalgamated Copper! 250 350 249% 350 350 350 249*219* 250 350 349* 250 156* 158* 156* 166* 156* 156% '156* 157* 158% 166% 15*5* 157 241 245 342 344 343 243 343 943 X342 249 •242 344 195* 186 195* 195% 198 196 195% 195% 196 199 195* ... 135* 136 135% 135% 136% 136% 135 135% 138% 138% 187 186% 143 143 143% 143* 142* 143% 142* 143* 143% 148% 143 145 '137 127 138 127* 137 127 38 38 88 37% 37% 37% 37* 38% 38* 38% 38% 83 45* 45% 45% 45% 48* 45% 45* 45* 4 5* 45% 45% 45 139 139 138* 138* 138% 138* 138* 138* 138% 138% rise 139 26 36 26* 28 26* 26 27 se 26% 36% 26* 26 •22% 23 83 85 24% 24% 23 82 33 23* 33 22 80 80% 81* 80* 79% 81 79% 79% 79% 80* 80% 13 18* 13 13% 13 13% 13% 13% 13% 13* • 13 91 93 91 '89* 90% 90* 89% 91 90% 90% *70 70 70 70% 70* •69% 69% •71% 71% 70% 70% 70 No Penn 4s. ..1030 1st 4s.. '36 MAN MAN »•#•• . I » • . •••••• • !•»• 10O3JAJ 109 •• Penn gen 6s r... 1010 Var 135% Consol 6s o.... 1905 Yar ••• 1919 Yar 186 Consol 5s r 197 Penn A Md Steel oon 6s. 97% Pa A N Y Can 7s..'06 JAD GenM7s - • • Cons 5s Cons 4s 1939 1939 Penn AAO AAO MAN ••ft Steel lst5s.'17 People's Tr tr certs 4s. '43 Phlla Bleo gold trust otfs ' * * I 107* 100* Trust certrfs 4s 88% PhAEr gen M 5g.'20 AAO 120 Gen M 4s g.. 1920 AAO Ph A Read 2d 5s.'33 AAO 139 Consol M 7s.. 1911 JAD Con M 6s g... 1911 JAD Ext Imp M4s g.'47 AAC 104* Con M of '82 4s.'37 JAJ 104 ...... Terminal 5s g. 1941 O-F 124% 135 P Wil A Bait 4S.1917 AAO CoUat trust 4s. 1921 JAJ 109' Read Co gen 4s, 1907 JAJ 91% Rochester Ryoon5s.l03O 108 SohRESidelst5s g'35JAD 110% 91% Scran Trao 1st 6s '32MAN United N J 4s.. 1044 MAS TTnTraoPitt* gen5«'97.T*.T Welsbach s f 5s 1030. JAD Ana 115 . 78% ...... t»l-5u paid, •Price includes overdue ooupo m. i interest. . .. .. . . . . . . . .. 9 . ... . . .. . SBE CHRONICLE. ]162 [Vol. LXai. and ^ailra&d %n\zllx%mtz. RAILROAD EARNINGS. [utrestmjewt The following table shows the gross earnings of every Steam railroad from which regular weekly or monthly returns oan be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two columns the earnings for the period from January 1 to and including snch latest week or month. The returns of the street railways are brought together separately on a subsequent page. Latest Cross Earnings. ROADS. Week or Mo Septem'er. Ala. Gt. South.. 4th wk Nov Septem'er. Ala. Midland. Ala.N. O.ATex as Pao. Jun Adirondack N.O.AN.E... 2d wk Nov Ala.AVicksb. d wk Nov Vioks.Sh.AP. 2d wk Nov Allegheny Val. Ann Arbor An.Was.ABal.. Ark. Midland... Atoh.T.AS.Fe. AtlantaAChar Atl. Knox.ANo Atlanta* W. P. At.Vali'staAW Austin AN'west Bait. Bait. & Lehigh. A Ohio. B.AO. Sou'w Bang'rAAro's'k BathAHam'nde Bellefonte Cen. BridgtonAS.R. Bransw'kAWst Buff.R'oh.APitt Buffalo A Susq Bur. C. Rap. AN. Canadian Pao.. Cent, of Georgia Central N. E.... Central of N. J. Central Pacific. Cent. Pa. & W.. Oharlest'nASav Chattan'ga bo. CheB. A Ohio.... & Alton. Chio. Chic. Bur. AG.. Ohio. A East. 111. Ohlc.Gt.West'u Chlc.Ind.&L... Ohlo.Mll.&St.P. Ohio.AN'thw'n. Chlo.Peo.ASt.L. St.L.C.ASt.P. Ckio.R'kl.AP Chic.St.P.M.AO Chlc.Ter.Tr.RR Choo.Ok.AGuli Oin.N.O.AT.P. Cin.Ports.AVir Ol.O.Ch.ASt.L. Peo.AEaet'n Cl.Lor.AWheel. Col. Midland.... Colorado 80. & Col.New.ALau. Ool.Sand'y&H. Cornwall ALeb. OumbTd Valley Denv.ARioGr.. DenverASo'w'n Det.&Maoklnac DuluthS.S.AAtl E. St. L. A Car.. ElginJol.&East Brie Ev'ns.&IndJplis Evansv. A T. H. Find.Pt.W.&W. Ft.W.ADen.C. Ft.W.ARloGr.. Gade.&Att.U.. Georgia RR Georgia A Ala. Geo. 80. AFla.. Gila Val. G.AN. Gr.Tr'nkSyst'm Det.G.H.AM. Previous Year. Year. Y»ar. 18.308 63.836 82,901 22,152 53,484 78,539 c— , 144.229 1.881,654 715,518 $ 153,064 1,803,024 612,973 33,000 1,644,971 1,422,660 38,000 666,787 647,663 18,000 20,000 2i,0i0 573,504 14,000 608,959 298.335 306,732 1.935,087 1,750,896 July 34,634 29,456 1,510,464 1,430,761 3d wk Nov 52,364 5.405 5,352 55,882 October... 66,134 8,481 78,175 8,806 August 5,070,447 4,509,943 40,114,773 34,800,723 October 224,791 201,604 1,872,585 1,628,533 Septem'er. 36,4a 403,009 365,152 39,264 November. 63,48454,882 59,931 508,802 Septem'er. 20,673 16,493 177,517 98,706 October... 75,975 63,089 13.196 9,995 June 15,236 15,893 120,580 118,950 October October... 4.110,601 3,745,598 36,741,757 31,244,261 963,800 793,010 Septem'er. 128,996 117,927 20,276 20,344 Septem'er. 3.706 3,841 35,339 26,293 3,502 3.689 October 29,440 27,081 Septem'er. 3,359 3,747 501.841 492.450 52.327 64,632 Septem'er 4th wk Nov 125,5-9 123,969 5,225.343 3,723,693 533,432 649,579 78,827 82,695 October... 4thwkNov 127,98a 131,955 4,433,6*7 4,539,365 8e7,000 27,382,270 26,259,820 4th wk Nov 78l.O 4thwk Nov 174,616 165,827 5,936,212 5,217,752 557,030 58,964 68.168 597,457 October... eI028815 el443536 12,547,259 12,311.182 October Septem'er 1,819,049 1,878,827 13,749,573 13,253,864 2.814 16,648 August 2,406 14,425 557,038 50,323 40,466 516,987 Septem'er. 1,604 2,049 89,508 70,152 2d wk Nov 4th wk Nov 367,956 317,125 13,143,661 11,329,285 800,493 700.011 Ootober... October... 5.164,236 4.816,612 40,412,998 37,750,012 119,918 103,229 4,796,181 4,422,096 4th wk Nov 160.539 155,054 6,262,081 5,840,998 4th wk Nov 4thkw Nov 103,253 101,398 3,771,421 3,516,871 4ttawk Nov 1,265,914 1,174,055 37,908,662 36,971,232 Ootober... 4,184.225 4,270,023 35,762,312 34,440,571 Novem 'r 124,132 123,028 1,285,373 1,182,028 2,615,839 2,367,734 20,970.991 18,743,397 October 1,236.4.83 1,144,724 8.526.844 8,694,525 October 33,37* 30.279 1,243.530 1,141,203 4th wk Nov November. *358,391 130,326 * 2.807,864 * 1,588.232 85,426 99,413 4,423,633 4,233,927 3d wk Nov 44,053 October... 35,403 326,852 271,093 4thwk Nov 498,658 462,326 15,789,320 14,106,996 61,920 62,945 2.173,311 1,879,059 4th wk Nov 46,470 55,062 1,966,846 1,670,653 4th wk Nov July 179,208 151,911 1,286,290 935,931 467,518 415,310 3,698,881 3,238,203 October 13,903 Septem'er 12,456 128,768 113,938 28,411 1,001,729 25,278 4th wk Nov 761,156 17,836 22,945 Septem'er 227,462 181,545 92,913 91,892 October.. 851,235 774,013 278,700 10,048,613 8,813,212 4th wk Nov 290,900 200,97;! Septem'er 209.083 1,848,669 1,529,278 Septem'er 69,858 63,179 710,358 560, t82 4th wk Nov 54,083 62,084 2,376564 2,203,569 13,613 13,559 Ootober 132,696 118.588 November 137,147 143,965 1,788,862 1,640,627 October 3,158,337 3,489,190 30,915,736 30,228,099 7,980 9,8-3 4th wk Nov 304,956 332,856 4thwk Nov 36,248 38,252 1,291.0 ;3 1,286,022 October.. 11,595 12,160 89.157 98,374 163,074 143.806 1,198,854 1,118,700 Septem'er 4thwkNov 20,689 14,936 488,300 443,079 1,536 October 1,677 12,971 9,903 49,463 42,114 1,598,856 1,463,161 4th wk Nov 93.236 June 88,519 645,476 583,820 101,521 October... 107,757 993,720 843,568 32.133 30,335 October... 3 16,1*4 336,649 2d wk Nov 450,754 497.3 91 19,983.672 19,235,978 21,321 20,021 2d wk Nov 863,097 868,171 . . . . . . . . . . , . . . . . . A West August .. October... In.AGt.N'rthu 4thwk Nov WkNovl7 4thwkNov Iron Railway... October Kanaw'aAMleh 4tbwkNov K.C.F.8o'tt<teM 8d wk Nov K.C.Mem. A Bir. 3d wk Nov Ootober 4thwk Nov 4th wk Nov November. October... Ootober... L. AW. -B.Coal October... Lex'gton A East Ootober.. Long IslandRK. Septem'er Latest Gross Earnings. Roads. Year. Illinois Central. October.. 3,309.986 10,525 Illinois South'n Septem'er. Kan. C.N. W... Kan. City Sou.. K. C. Sub. Belt. Lenigh & Hud. Lehigh Val. RR. Leh. V.Coal Co Latest Date. Ourrent . ilnteroo. (Mex.) Iowa Central... to Previous 158,711 MontanaCeni November Tot. system. November. 2.714,817 Hooking Valley 4thwkNov 105,908 665,366 Hous.ATex.Cen October A Iowa Jan. 1 Current Great North'n— St. P. M. & M.. November. 2,172,948 East of Minn. Novt mber. 383,158 Ind.Dec. Ind. 111. I 09,345 20,913,113 20,159,797 422,700 3,683,684 2,961,387 214,140 1,797,1 05 1,830,252 2,946,185 26,393,902 24,951,436 104,880 4,2^9,605 3,214,213 472,614 3,285,310 2,960,313 3.012,462 28,172,221 24,463,567 2,; 63,836 57,245 436,857 92,708 109,457 143,006 14 8,297 3,740,726 87,800 3,501,300 72,700 60,414 2,016,370 56.312 6,101 4,306 54,108 17,773 26,484 775,359 110,450 5,230,752 124,677 41.953 32,961 1,551,992 34,970 37,273 317,283 109,319 104,870 13,971 14,809 40.868 421,530 35,340 el64 122 e2475563 20,145,896 e679,000 e2418,356 14,669,983 e471,018 elll9349 7,623,768 292,459 23,983 31.070 3,583,759 389,215 3,754,137 3,497.430 2,099,755 51,281 614,091 4,659.184 1,349,730 278,279 449,496 19,845,473 15,263,300 7,105,657 210.664 3.502.687 Week or Mo Ourrem Year Long Is. System August Los Ang. Term. Ootober Louis. Ev.& St. L 4th wk Nov Lou. H. A St. L.. 3d wk Nov Louis. ANaahv. 4th wk Nov Maoon A Bum.. Ootober October Manistlque (Mexican Cent. 4thwkNov Mexioanlnter'l. Ootober (Mex. National. 4thwk Nov Mex. Northern. 8ep em'er. J Mexican Ry... WkNovl7 . . . . S 646,972 12,388 51,549 12,596 719,720 11,075 4,061 . . . 1 411,981 4*3,923 179,691 68,818 80,300 15.090 79,190 132,057 wk Nov Minne'p. ASt.L. 4th wk Nov M.St.P.AS.St.M 4th wk Nov Mo.Kan.ATex. 4th wk Nov 44 Mexican So . 2d Mo.Pao.AIr'nM 4th wh Nov Central Br'ch. 4th wk Nov 4thwk Nov Total ,698 925,000 31,000 956,000 Mob.Jao.AK.C. WkNov.24 2,708 Mobile* Ohio.. November. (5547,500 Mont.AMex.G'f Ootober... 109,377 Nash.Ch.ABkL. November. a592,561 Nevada Central N.Y.C.AH.R.. N.Y.Ont.AW.. N.Y.Susq.AW. Norfolk* West. North'n Central North'n Pacific. Ohio River Ohio Southern. Pao. Coast Co... Pacific Mall Pennsylvania^ Septem'er. 2,970 Jan. 1 Current Previous Year. Year. Year. 9 9 626,900 8,86 49,398 11,295 772,036 7,418 6,544 423,362 390,772 160,130 58,307 86,7u0 12,079 72,182 152,709 365,727 892,000 34,00v 926,000 2,008 C572.800 102,556 a588,026 1,955 October... e282,022 «454,265 October... e94.339 e239,845 4th wk Nov 3b5,687 346,871 October,... wk Nov 4thwk Nov 618,107 705,823 24,636 52,547 470,686 292,194 Latest Date. Previous November. 4.8S9.223 4,795,492 3d to 772,407 712,461 27,397 55,710 502.498 340,618 3.281,092 8,252,402 133,718 100.730 1,841,032 1,653,375 570.70U 531,898 25,584,634 23,635,107 77,218 53,981 96,442 70,836 15,824,235 14,04^,156 4,410.475 3,804,419 7,115,583 6,376,836 507,675 3,974,200 725,635 2,690,124 4,312,530 12,131,943 27.561,032 1,234,639 28,795.671 115,851 c5,428,794 1,158,379 a6,435,017 25,2 4 50,601,703 3,924,945 1,841,571 13,719,543 6,316,071 28,165,917 1,328,356 455.501 4,453,563 July October Ootober... 3,0->6,769 Ootober... 7,718,578 6,976,278 69,970.484 Penn ANo'w'n. October... 61,008 57.071 580,696 Pere Marquette 3d wk Nov 148,374 143,073 7,261,925 Peo. Deo. A Ev. 4thwkJuly 23,161 25,610 524,544 Phila. A Erie... Septem'er. 502,898 528,816 4,203,617 Phil. Wilm.AB. October... 946,781 991,981 9,412,987 Pitts.C.C.ASt.L Ootober... 1.694,225 1,739,726 15,703,174 Pitts.Bes.AL.E. 4thwk Nov 52,7oO 48,120 2,213,389 143,923 16,07 6 Pitt. Ch.AY'ny. Septem'er 17,919 29.003 Pitts.Lisb AWd June 4,088 4,809 Pitts.AWest'n.. Septem'er. 166,260 168,445 1,657.768 948,439 Pitts. 01. ATol. Septem'er. 103,769 89.8 47.750 397,294 Pitts. Pa. A F. Septem'er. 38.500 Total system 3d wk Nov 69.697 69,039 3,555,699 . . n 602,192 3,999,600 6d7,778 2.583,777 4,297,258 11,130,573 25,514,994 1,161,500 26,676,494 72.392 e 4,825,821 1,075,883 a5,871,555 17,914 47,704,635 4,040,695 2,119,116 11,623,660 5,841,971 25,734,154 1,087,544 401.934 4,289,476 3,076,708 59,437,784 556,854 6,498,885 464,332 3,698,394 8,727,287 14,736,882 1.681,404 135,716 22.854 1,447,762 762,595 318,742 3,050,254 Reading Co.— Phil. A Read. Ootober... el878281 C2517143 22,108,910 20,046,571 Coal Air. Co.. October... el021046 e3389460 19,523,906 22,574,204 Tot.both Co's. October... 2,899,327 5,906,603 Septem'er. 75,552 73.003 Septem'er. 45,623 58,780 4thwkNov 15,081 15,578 3d wk Nov 96,500 94,300 13o,650 133,227 St. Jos. A Gr. I. October . 13,139 11,900 8t.L.Ken'etASo October... 10,049 8,163 St. L. A N. Ark. August ... St.L.Van.AT.H Ootober... 182,376 181.83* St.L.A8anFran. 4th wk Nov 242,405 199,860 262,89 183,404 St.L. Southwest 4thwk«ov San.Ant.AA.P. Ootober... 315.634 263,567 92,7b8 98,815 SanFran.AN.P. October... 16,7)4 16,4: S.FePres.APh. 3d wk Nov 341,324 826,671 8av.Fla.AWest. Septem'er. Seaboard Air L. July 824,124 718,911 37,8v9 15.381 8her.8hrev.A80 4th wk Nov 23,0i2 11,463 811. Sprs. O. A G. Septem'er. 24.200 29,629 So. C.A Ga.Ext. October... 15,605 6,432 So. Haven A E.. Septem'er. 19,206 11,799 So. Miss. A Ark. October 80. Pacific Co. 6. Ootober... 6.71 9,600 6,069,598 Cent. Pacific. Septem'er. 1,819.049 1,878,827 Gal.Har.&S.A Septem'er. 5 4,736 605,281 Louls'a. West. Septem'er. 137,296 106,76b Morgan'sLAT Septem'er. 596.124 574,840 31,201 N.Y.T.AMex. Septem'er. 28,737 211 24i. 158,563 Tex.AN.Orl.. Septem'er So.Pao. of Cal. Septem'er. 1,572,922 1,592,977 292.174 285,16b So.P'o.ofAriz. Septem'er. 8o.Pao.ofN.M Septem'er. 155,262 155.421 Southern Ry.... 4th wk Nov 878,114 808,634 TerreH.Alnd.. October... 154,174 145,742 46,173 59.730 TerreH.APeor. Ootober 12,512 25,0^2 Texas Central. 3d wk Nov Texas A Pacific. ithwk Nov 386,953 297,534 lO.uOO 16.5O0 Tex.S.V.A N.W. Ootober... 59,159 64,482 Tol.AOhioCent 4thwk Nov 25.18=1 25,386 Tol.P.AWest... 4thwk Nov 37.225 42,036 Tol.8t.L.AK.C. 3d wk July UnlonPao. RR Septem'er. 2,398.063 2,'. 18.164 Oreg.RR.A N. Seinem'er. 756,518 680,311 880,489 749,804 Oreg.Sh.Llne Septem'er Ootober 4,537,97 8 4,182.654 TotaL nthwkNov 427,937 •126,764 Wabash 237,330 220,330 W.J'rseyASea'e Ootober ... 95,328 86,511 W.V.Cen.APltt. Septem'er. 84,095 70.473 Western of Ala.. October... 114.100 119,000 West.N.Y. A Pa. 4th wk July Wheel. A L. E. I 4thwk Nov 79.974 70,831 Rich.Fr'ksbAP Rio Grande Jot. Rio Grande So.. Rio Gr'de West. . ri . 1 . . Olev.C.ASoS Wisconsin Cent. 4thwk Nov Wrightsv.ATn. Ootober YazooAMiss. V. Ootober.. . York Southern.. 0< a>ber.. 129,451 17,375 592.679 8,742 134,851 17.9o6 595.849 8,253 41,632,816 42,620,775 770,421 698,063 402.351 308,727 499,395 454,897 4,279,075 3,378,864 1,135,984 1,149.641 87,708 82,639 1,619,079 8,096,868 5,758,646 1,809,965 831,658 869,882 3,474,580 1,529,491 6.978,660 5,228,605 1,666,135 801.6&2 798,338 2,872,752 485,739 334,149 197,471 241,885 218,508 187,376 52,160 33,898 152,169 102,688 53,411,105 49.896,659 13,749,573 13,253,864 4,481,767 4,346,766 1,016.303 4,810,913 195,234 1,552,05* 13,024,028 2,760,801 1,477,451 29,409,8 2 1,343,147 414,518 422,723 8,321,088 93,180 2,314,901 1,022, 327 965,729 17,458,896 1,000,308 4,852,545 20^,806 1,401,291 1 ,762,932 2,521,128 1,431,040 26,725.897 1,252.073 6,637,321 5.707,585 1 3r>7,520 293,929 7,416,287 63,968 1,82 8,226 939,458 1,038,170 15,352,404 15,358,909 14,213,491 3,089,521 2,718,321 628.125 2,075,556 2,638,830 4,918,351 137,357 4,012,012 76,875 564,655 1,938,058 2,258,399 5,137.079 119,187 3.872,352 70,055 Figures for Oct. and Nov. are for the railroad only, l Mexloan ourrenoy. § Covers results of lines direotly operated east of Pittsburg. Includes Chesapeake A Ohio So'western, Ohio Valley and Chicago and Texas for both years. a Includes Paduoah A Memphis Division from July 1 in both years. h Does not inolude the Austin A Northwestern, the San Antoulo A Aransas Pass or Houston A Texas Central system. e Results on Montgomery Division are lnoludei i n 1900. from Jan. 1 and In 1899 after July 1. uoludes St. Paul A Duluth from July 1, 1900. c Anthracite ooal miners strike this year. * t ). . December 8, i Latest Wross Earnings by Weeks.—The latest weekly earnings in the foregoing are separately summed up as follows: For the fourth week of November our statement covers 51 roads and these show 4*74 per cent increase in the aggregate over the same week last year. 1900. a 63.836 Buflalo Rooli. <fe Flttsb'g. 125,539 127,988 Burl. Old. Rat). & North 781.000 Canadian Pacific ....... 174.616 Central of Georgia....... Chesapeake <fe Ohio ... 367.956 119,918 Chicago & East. Illinois. 160,539 Ohio. Great Western..... Chlo.Indian'lis & Loulsv. 103,253 Chicago Milw. & St. Paul 1,265,914 33,37* Ohio. Term. Transfer .. Olev. Cin. Chio. & St. L. 498,858 61,920 Olev. lioraln & Wheel'g. 46,470 Col. Sandusky & Hook'g 25,278 Rio Grande.. Denver 290,900 Dnluth 8o. Shore & At.. 54,08} Bvansv. & IndlanapoiiB. 7,980 £vansv. A Terre Haatfi 36,248 20,639 Ft Worth & Rio Grande 49,46' Hooking Valley........... 105,908 Intern'l A Gt. Northern. 14?, 00 56,312 K«nawb» di Michigan.. 26,484 Kansas City Southern.... 109,319 Kansas City Sub. Belt. . 14,809 LjuIbv. Evans v. & St. L 51.549 Louisville & Nashville .. 719.720 411.931 179,691 79, 90 Minneapolis & St. Louis Minn. St. P. & S. Ste. M. 132.057 444,698 Mo. Kansas & Texas.... Mo. Pacific & IronMt 925,000 Alabama Gt. Southern. ."ft - ' . 31,00r> Plttsb. Bess. & L. Erie.. Rio Grande Southern.... Louis & San Fran .. Louis Southwentem Sherman Shreve. & So... Bt. 9%, Toledo & Ohio Central.. Toledo Peoria & West'n. Wheeling & Lake Erie. Clever d Canton & So 365,687 24,636 82,730 15 081 242,405 262,896 s 1899. Increase. 9 53,484 a 12J,96ii 3 967 106,000 8.789 80.831 16,689 5.48s 317.12."> 103,229 165,054 101,39* l.J-55 30,279 462,326 62,94". 55,082 28,411 278,700 62.084 9,823 38,252 14,^36 42,114 104,880 148,297 60,4)4 17,773 104.870 13,971 49,398 772,036 423.362 180,130 72,182 152,709 365.727 892,000 31.000 346,871 27,397 48,120 15.578 199.860 183,404 878,114 386,963 64,482 1,025 8,692 3,133 • **• 12,200 »M« •»•• - 8,001 1,843 2,004 - 5,75' 7,349 1,02* 5,291 4,102 8,711 838 - mm - - 52,316 11,381 439 - 7,008 mmmm »-- •* 20,652 . 78,971 33,00)0 -•» mm-' 3,000 . 18.816 • »• 4,610 2,761 mm 497 42.545 79,492 22.428 69.48C 89,419 5,323 201 1,173 808,634 297,534 59,159 25,185 426,764 70,831 134,851 Ourrent tear. Roads. Evans. & Indian. b. Oct. Jan. 1 to Oct. 31 July 1 to Oct. 31... Evans. & T. H...b..0ct Jan. 1 to Oct. 31 July 1 to Oct. 31... alia Val.GlobeA No. Oct. Jan. 1 to Oct. 31 Son st, & Tex. Cent.Oct. Jan. I to Oct. 31.... Jan. 1 to Oct. 31..., July 1 to Oct. 31.... Kansas City Gas a May 1 to Oct. 31..., Kan. City South... aOct. July 1 to Oct. 31..., Kan. Sub. Belt.a Sept. • »»» »« a mmm 9,143 5,400 —Hftfu r» Ourrent Previous Tear. 9 9 Tear, 9 32,263 35,289 280,076 299,877 122,535 134.369 132.672 132,151 1,177,701 l,166,bl6 503,361 516,211 32,133 30,335 316,164 336.649 665,366 472,614 3,285,310 2,960,313 1,691,966 1,468,524 109,4f>7 92,708 401,896 346,944 598,145 547,124 4.87H.503 4,827,822 2,109,724 2,004,636 391,096 370.673 1,466,979 1,345,990 48,514 48.818 145,076 July lto Sept 30.... 147,013 ^exing'n & East.tr.. Oct. 31,070 23,983 210,fi64 292.459 Jan. 1 to Oct. 31..... 122,042 July 1 to Oct. 31..., 96.982 C Lonisv. & Nas"v.b.Oct 2,618,078 2,510,805 Jan. 1 to Oct. 31... .22,963,404 21,167,936 July 1 to Oct. 31... . 9,348,445 9,294,251 Wear loan Centra. '...Oct. 1,481.059 1,411,849 Jan. 1 to Oct. 31... 14,422,946 12,629,624 Mex. International. Oct. 483,923 390,772 Jan. 1 to Oct. 31... 4,410,475 3,804,419 . «* •» - • — Gross Earnings. ' 4,449 2,151 1163 July 1 to Oct. 31..., Indiana 111. & Ta.b.Oct. July 1 to Oct. 31..., Kan. c. Ft. 8. A M.aOct. 91,859 3,099 36,532 1,174,0 5 15,381 25 336 Decrease. 10,352 1,570 131,955 887,010 165.827 37,8 9 427,937 79,974 129,451 Wisconsin Central.. .... . THE CHRONICLE. 1900.] \th week of November. — > 11,600 80,717 40,937 53.899 546,943 231,893 17.396 176,859 416,847 1,038.585 800,724 42.608 151,096 249,780 1,672,365 790,034 " 131,856 107,934 273,148 9,082 36,062 8,158 109,918 43.315 1,014,156 7,501,323 3,285,641 508,740 4,424,310 200,658 ino* — Previous Tear. $ 14,953 110,122 58,145 50,008 535,741 234,495 20.663 219,216 196,231 717,682 509,631 30,055 103,134 186,537 1,361,637 666,787 133,629 90,164 325,803 18,255 47,072 8,714 76,822 41,442 901,906 7.038.200 3,180,370 478.596 4,039,869 150,795 1,735,875 1,612,251 32,689 28,867 19.481 17.940 252,132 Jan. 1 to Oct. 31... 216,628 124,848 113,610 .Yash.Cn.&St. i..»>.*Oct 720,791 646.470 260,728 230,565 Jan. lto Oct. 31..., 5,842,456 5,283,529 2,037,011 1,630,128 July lto Oct. 31... 2,609,546 2,-00.249 934,907 846,255 «. Y. Sus. & West.a.Oct 94,339 239,845 13,936 115,188 Jan. lto Oct. 31... 1,841,571 2,119,116 683,741 889,677 July 1 to Oct. 31... . 677,593 929,903 253,582 44), 543 Norfolk & West'n.a.Oct. 1 414 829 1,204,947 616,859 491,476 Jan. 1 to Oct. 31. .12,508,'2P9 10,510,502 4,989,503 3,637.215 July 1 to Oct. 31. 5,353,690 4,623,871 2,186,298 1,825,517 Paoltio Coast Co.a Oct. 470.686 502,498 124,721 152,693 Jan. 1 to Oct. 31 4,453,563 4,239,476 999.281 1,180,482 July lto Oct. 31.... 2,000,653 1,940,629 444,604 616,697 PAcltw- Mail Oct. 292,194 340,618 t64,015 174,800 Jan. 1 to Oct. 31 3,066,769 3,07b,708 677,612 856,801 May lto Oct. 31.... 1,719.771 1,822,175 t359,463 1517,966 Penn. & Northwest Sept. 54,987 59,164 17,306 28.802 Jan. lto Sept. 30 ... 519,688 499.783 196,229 204,866 Rio <4rande Soutn b Oct. 54,610 49,164 29,508 25,301 Jan. 1 to Oct. 31.... 448,655 404,062 199,447 195,441 July lto Oct. 31.... 196,028 178.413 90,064 89,030 41o Urande West.b.Oct 508,849 428,153 158,026 181,078 Jan. 1 to Oct. 31.... 4,031,975 3,141,164 1,383,272 1,271,841 July 1 to Oct. 31 1,782,723 1.514,920 543,882 652,232 8t. Lawrence & Adir'okJuly 1 to Sept. 30 58,689 57,678 27,576 35,429 San Ant.&Aran. P.bOct. 345,634 263,567 194,826 12O,210> Jan. 1 to Oct. 31 1,809,965 1,666,135 358,030 301,951 July 1 to Oct. 31 918,915 662.304 348,045 321,402 Southern Pacific, b. Oct. 6,719,600 6,069,598 2,752.155 2,467,169 Jan. 1 to Oct. 31... 53,411,105 49,896,659 1 8.651,385 18,202.157 July 1 to Oct. 31... 23,675,640 22,323,552 9,220,674 8,906,332 Minn Gan.Elec Go.Oct . . Total (51 roads) Net Increase 14 74 731,149 490,745 10,840.091 10,349,346 p. c.i.. ........ 240,404 For the third week of Nov. our final statement covers 63 roads, and shows 97 per cent increase in the aggregate over the same week last year. 3d week November. of 1900. Previously rep'd(58 r'ds) Dulutb So. Shore A Ati Louis ville Hend. & St. L. Santa Fe Pres. & Phoenix. 1899. 9 9,510225 9,423.420 Total (63 roads)....... Net increase 97 p. o.). 37,596 12,59b 16,714 20,455 25,002 426,739 9,529,647 344931 1,301 Ulster 235 450,739 92.941 WrUhtsv. 357,798 that have fur- (all nished statements for the full month as yet) show aggregate results as follows : Month of November. 1900. 1899. Increase. 9 Gross earnings (73 roads) 44,499,032 43,938,965 It will be seen that there the amount of $560,067 or 560,067 Per Cent. 1-27 a gain on the roads reporting in 27 per cent. is 1 — Net Earnings Monthly to Latest Dates The table following shows the gross and net earnings of Steam railroads reported this week. Net Earnings. -Or os s Earnings — — Ourrent Fear. Roads. Previous Year. Current Tear. Tear. 9 12,321 98,161 174,248 4,048,323 4,098.074 2.615.839 2,367,734 Jan. 1 to Oct. 3i... 20.970.H91 18,743,397 Apr. 1 to Oct. 31... 15,033,537 14,038,162 110,074 Chlo. Ter. Transf .. b. Oct. 124,879 Jan. 1 to Oct. 31... . 1,128,137 1,034,267 482,279 417,034 July lto Oct. 31... . Olev.Lor. & Wbeel.aOct 186,106 168.662 Jan. 1 to Oct. 31... 1,806,997 1,500,330 July 1 to Oct. 31... . 717,538 669,508 415,310 Colorado & South.bOct. 467,518 Jan. 1 to Oct. 31... 3,698.881 3,238,209 July 1 to Oct. 31... . 1,655,001 1,433/; 02 980,085 Den v. & Rio G'de.b.Oct. 1,122,288 Jan. 1 to Oct. 3< 9,088,313 7,903.312 July lto Oct. 31... 4,159,586 3,505,943 Oct. Brie. a 3,158,337 3,489,190 Jan. lto Oct. 31.... 30,915,736 30,22b,099 July 1 to Oct. 31.... 12,976,518 13,781,506 1,132,355 1,052,837 7,352.275 5.455,530 60,469 630,559 247,341 67,794 537,763 182,180 Atl. Knox. & No... Oct. Jan. 1 to Oct. 31... Burl.Ced. R.& No. a. Oct. Jan. 1 to Oct. 31... Onlo.R.I.&Pac..a..Oct . . , . 139,747 818,433 420,991 436,835 3,278,667 1,573,647 785,123 7,766,898 3,720,016 9 13,641 75,965 170,665 1,075,984 1,004,960 6,845,259 5, .77,253 63,653 6*8,404 260,584 35,855 452,266 191,152 132,067 965.558 464,858 394,7c9 2,904 062 1,388,175 1,099,0( 8 7,778.747 4,187,090 & Tenn Jan. 1 to July 1 to Oct Oct Oct. 31... 31... 217,821 434,093 17,375 137,357 57,763 158,693 338,707 17,956 119,187 57,071 100,719 149,144 9,472 46,704 24,382 66,815 108,682 9,170 36,322 20,659 a Net earnings here given are after deducting taxeB. n vpr ewntncn here given are before dedo otitic taxes * Includes Paduoah & Memphis Division from July 1 in bot^ years. t Alter aeducting "reserve fund for repairs of steamers" surplus in October, 1900, wa« $34,900, against $45,685 in 1899, and from May 1 to Oot 31, 1900, there was a surplus of $184,773. against $343,276 in 1899. The reserve fund for depreciation and general and extraordinary repairs of steamers has been increased to the standard of the English companies, i. e„ five per cent upon the value of the steamers. — Interest Charges and Surplus. The following roads, in addition to their gross and net earnings given in the foregoing, also report charges for interest, &c, with the surplus above or deficit below those charges. Int., rentals, etc. -Bal. of Net Earn'/.— — — Current Road* Chio. R. Isl.&Pac.Oct Apr. 1 to Oct. 31... Clev.Lor'n & Wheel.Oct. July lto Oct 31... Uen. * R. Grande... Oct. July 1 to Oct 31.— Ind. m. & Iowa..... Oct. Kan. C. Ft. 8.&M..Oct July 1 to Oct. 31.... Sashv. Chat ASt.L. Oct. July 1 to Oct. 31..., Previous Ourrent Previous Tear. Previous 9 40,086 328.731 555,021 9 40.959 363,745 559,336 & Delaware July l to Sept 30... Jan. 1 to Sept. 30 ... 9,974 12,490 1 For the month of November 73 roads Decrease. 12,864 50,460 11,295 16,479 10.481 12,512 9,622,588 Sherman Shreve. & So. .. Texas Central Increase. Tear. Tear. Tear. 9 * » 313,000 325,628 739,837 679,332 2,191,000 2,279,394 3,264,530 2,897,859 28,116 22,500 39 678 13,355 112,467 90,000 69.713 101,152 206.602 201 818 1229 547 J190.560 819,614 804,115 {782,234 J621.695 20,764 16,761 21,844 13,294 124,548 119,451 125.232 67,086 501,623 478,589 288,411 188,198 160,326 153,988 100,402 76,577 oi5,234 644,302 290.605 231.021 1P0.481 185,871 430,988 300,995 743,821 762,278 1,442,477 1,063,239 17,783 17,918 11,725 7,383 72,209 72.117 17,855 16,913 Norfolk & We stern. Oct July 1 to Oct. 31..., Rio Grande South.. Oct July 1 to Oct. 31..., Ulster & Delaware38,828 July 1 to Sept 30..., 31,517 *62,116 *35,523 After deduoting $15,000 for I These figures include other income. Renewal Fund and Bond Conversion In October, 1900, and a like amount In October, 1899, the surplus for the month is $214,547, against $175,560 a year ago; from July 1 to Oetoter 31,1900, the deduotion for this purpose was $60,000, against $^ 0,000 in 1899, leaving surplus for this year $722,234, against $561,695 a year ago. ). .. . . — .. . . . J THE CHRONICLE. 1164 —We give below the gross and net Northern Pacific. earnings, etc., of the Northern Pacific for October and the four months to October 31. October, July 1 to Oct. 31. , . *1900. % Main system — , 1899. 1899. *1900. *R .3,389,966 Gross earnings Operating expenses. ...... 1,497,315 Net earnings 1,892,651 Taxes.rentals.bet'ni'ts.&o. 128.972 Net operating income. 1,763,679 Miscellaneous income, not including land sales 67,160 $ *fi 3,368,951 11,858,293 11,439,965 5.021.436 1.840,798 5,813.8 2,028,153 6,044,493 6,418,529 247,574 1.114,266 1,2 7.4*0 1,780,579 4,930,227 5,201,080 1 81,664 254,106 153,028 1,862,243 5,184.333 5,351,118 125,256 129.680 38.169 Total 1,857,263 1,900,412 5.314,013 5.479,374 rhe operations of the St. Paul & Duluth are included in 1900. 1,830,839 26 424 Proprietary lines * — > [Vol. LXXI. railways, we adopt the same plan as that for the steam roads that is, we print each week all the returns received that week, but once a month (on the third or the fourth Saturday), we bring together all the roads furnishing returns, and the latest statement of this kind will be found in the Chronicle of November 24, 1900. The next will appear in the issue of December 22, 1900. Oross Earnings. Net Earnings.—. Current Previous Current Previous — — . — Tear. New London St. Ry.Oct. Jan. 1 to Oct. 31..., July 1 to Oct. 31... Richmond Trao'n...Oct. Jan. 1 to Oct. 31..., Tear. Tear. 9 4,057 54,101 32,653 17,266 174,176 Roads, 9 9 3.416 49,680 27,437 14,748 142,926 Tear. 9 191 17,589 14,648 7,748 82.789 701 17,653 13,672 5,851 61,133 ANNUAL REPORTS. STREET RAILWAYS AND TRACTION COMPANIES. The following table shows the gross earnings for the latest period of all street railways from which we are able to obAnnual Reports.— The following is an index to all annual tain weekly or monthly returns. The arrangement of the reports of steam railroads, street railways and miscellaneous table is the same as that for the steam roads that is, the companies which have been published since the last edifirst two columns of figures give the gross earnings for the tions of the Investors' and Street Railway Supplements. latest week or month, and the last two columns the earnings This index does not include reports in to-day's for the calendar year from January 1 to and including such Chronicle. latest week or month. Railroads & Miscell. Companies. Railroads & Miscell. Co.'s— (Con.) Volume 71— Volume 71 Page. Page. STREET RAILWAYS AND TRACTION COMPANIES. Alabama & Vicksburg 912 Mergenthaler Xtnoty pe 962 — Latest Gross Earnings. Gross R'ys. to Latest Current Week or Mo Our'nt Prev'us Tear. Year. Tear. Earnings. Amerioan Jan. 1 Date. Previous Tear. $ Co.— Peoples Railway... October... JolietRR October... Springtield Ry October... Bri'g'ton&Millv.Tr October... Springfield L.& P.. October Bridgeton Electric October... Total October... Atlanta Ry. & Power. August Binghamton St. Ry.. October... Br'klyn Rap.Tr. Co. . October... Chicago & Mil. Elec. Ootober Chicago Union Tract. October... Oin. Newp. & Cov.... Ootober... City Elec. (Rome.Ga.) Ootober... Cleveland Electric t. October... Cleve. Palnsv. & E... October Columbus (O.) Ry.... October... Consol. Trao. (Pitts.) October... Dart.& W'port St. Ry. October... Denver City Tram.. Ootober Detroit Oiti'ns'St.Ry. 4th wk Nov Detroit Elec Ry.... 4th wk Nov Detroit Ft. Wayne 16,416 12,845 10,202 4,558 5.061 2,547 51,629 60.054 14,792 991,454 12,495 633.043 66,639 3,782 194,615 14,075 85,677 257,180 7,684 114,373 38,561 14,887 4thwk Nov 4th wk Nov October... 5,911 59,359 8,356 5,636 217,184 192,117 53,192 2,139,656 1,847,305 1,626 53,639 Ootober... 36,883 Ootober... 21,438 32,936 22,317 . . . . . . . & Belle Isle Total of all Det. Rooh. Ro.& L.O. Duluth Sup. Traot. Duluth St. Ry.... $ Easton Consol. Elec Galveston City Harrlsburg Traction. . . 14,791 10,702 10,718 4,545 4.653 1,408 46,817 55,557 13,612 981,620 9,175 679,040 65,082 2,330 143.174 11,432 75,216 222,482 8,273 102.025 34,448 13,108 362.499 152,494 321.453 138,857 69,6*17 12T.284 6,138,779 6,075,886 655,350 33,975 592,275 22,531 l,69b,827 1.186,953 120,262 822,445 103,539 88,253 86.709 1,077,959 1,026,202 1,417,716 1,241,927 504,756 25,417 4,366 3,993 43,465 413,261 . Metro. (Elev.)Ohioago Montreal Street Ry.. Muscatine Newburg Ry Ry St. St. New Castle Traction. New London St. Ry.. Norfolk Ry. & Light. Northern Ohio Traot. Norwalk Tramway Ogdensburg St. Ry.. . Olean St. Ry Omaha & Coun. Bluff Ry. & Bridge Philadelphia Comp'y Pottsv'e Union Trao. Railways Co.General . . 87,063 209,313 2,216,662 2,029,028 13,875 153,253 123,888 4,508 58,787 57,605 8,910 93,602 88,152 11,541 8,542 73,607 72,142 8 973 76 068 72.033 12,845 126,985 105,615 417,594 4,545,151 4,161,588 146,367 146,185 1,345.509 1,259,223 5,849 56,742 49,896 6,920 84,029 76,275 8,845 116,045 115,762 54,101 3,416 49,680 3 9.014 278,042 30,816 352,956 298,912 7,599 61,820 57,738 1,836 18,754 19.171 3,756 43,518 39,198 19,347 21,372 201,035 177.333 167,259 146.810 1,996,909 1,474,825 Septem'er. 13,483 11,896 109,527 98,567 16,90u Ootober Richmond Traction.. Ootober... 17,266 14,748 174,176 142,926 Ootober... Ootober Sacramento Eleotrio Gas & Ry Ootober... Scran ton Railway... Ootober... Seattle Eleotrio Co. Septem'er. . Btaten Island Elec. . ... Septem'er. Toronto Ry November. Twin City Rap. Tran October ... Union (N. Bedford).. Ootober United P. & Transp.. Ootober... United Traction— > . . Albany City Ootober... $ United Tract. (Pitts.) United Traot. (Prov.) Wllm.&N.CastleElec Worcester & Marl'b'h Ootober Lim 1117 857 Cincin. New Orl. & Texas Pacific. Consolidated Lake Superior Detroit & Mackinac Distilling Co. of America sheets of prop, companies Edison lectrio 111. of Boston Fitchburg General Electric (7 months) Georgia Southern & Florida Indiana Decatur & Western . 908 912 961 bal. -I 962 9 la 909 10li 909 909 International Packing 1118 Iowa Central.... 858 Iron Steamboat 1118 Kanawha & Michigan 869 Kansas City Ft. Scott & Memphis. 858 Kansas City Memphis & Birm 910 Kings Co. El. L. & P. .Brooklyn Ed. ba'. sheet 862 Lehigh & Hudson River 961 Maine Central 910 Manhattan Ry 1010 New Northern Pacific. ...report of voting trustees 1016 Oregon R R. & Navigation Oregon Short Line 960 961 Pacific Coast 1010, 1018 Httsburg Brewing 1119 Pittsbu g & Western Portland & Rumford Falls ....1009 911 862 Pullman Co Rio Grande Western 1064,1071 St. Joseph & Grand Island 859 Santa Fe Prescott & Phoenix 869 Sbawmut Oil Sherman Shreveport & South 982 1116 Texas Central 860 Toledo. * Ohio Central 860 Toledo Peoria & Western 961 Torrington Co 912 Trow Directory Pr. & Bookb. Co... 982 Union Pacific 960,966 United Fruit 1011, 1020 Vicksburg Shreveport & Pacific. 911 Welsbach lnc.Gasl Co Lim.,of Can. 963 Western N. Y. & Penn 1064 Westinghouse Air Brake 862 West Virginia Central & Pittsburg 860 1 . . Street Railways. Volume 71— American Rys. .14 mos. Page. to June 30, 1900 1065 Massachusetts Elec. Co.'s... period 1084, 1072 ending Sept. 30, 1900 Montreal Street Ry & Baltimore Chesapeake 1117 Atlantic Railway. 31, 1900. President S. M. Prevost says: The operations of your system for the past year show very gratifying results, there having b9en a marked increase in earnings from both freight and passenger traffic. The net earnings were sufficient to pay all fixed charges, extraordinary expenses and leave a balance of $82,449. Since the last annual report a controlling interest in the property has been purchased by the Pennsylvania RR. Co. and allied All expenditures made during the last fiecal year were lines. charged to operating expenses; during the previous year $51,339 was charged to construction and betterments, capital account, but this sum is included in the $203,188 charged on the books to capital account which has been charged off to profit and loss, thereby reducing the capital assets to original amount, $3,750,000. The property has been maintained in its usual good condition; the road, equipment, wharves and steamers having had all needed repairs and renewals. The earnings, expenses and balance sheet have been: 1898-P9. 1897-98. 1896-97. Gross earnings $626,915 Operating exp. and taxes.... 487,453 $601,660 454,180 $565,683 4^9,805 $489,005 407,462 Net earnings $139,462 $147,484 5,488 572 $135,878 525 $81,543 2,257 $144,950 62,500 $148,056 62,500 $136,404 62,500 $83,800 62,500 $82,450 $-5,553 $73,904 $21,300 1899-00. . . . . Southwest Mo. Elect. July Southern Ohio Tract. Ootober 907,916 857 1117 1066 & St. Louis 907, 918 National Sal t.. official state m't.%62, 1119 Orleans & Northeastern 910 Minneapolis {Report for year ending Aug. 157,445 261,963 Internat'l Traction— Kingston City Ry.... Lehigh Traction London St. Ry. (Can.) Lorain St. Railway.. Lorain <te Cleve Los Angeles Tract.. Mass. Elec Co.'s RB Ohio Carter Crume Co., Central Vermont 27,i03 Ootober... 234.152 18,350 Ootober... 5,022 Ootober... 7,893 August.... 12,964 Septem'er. 7,829 Septem'er. 9.756 August.... 14,692 October... 442,195 Ootober... 134,518 Septem er. 161,526 October... 5.776 October... 7,640 October... 8,385 Ootober... 4,057 August 53,006 Ootober . 37,317 Septem'er. 8,450 October . 2,064 Ootober... 4,110 & Chicago & Alton Ry. .. statement to Stock Exchange. 1021 Ootober... (Buffalo) lOll 1065 831 912 Ann Arbor 856 Atlanta Knoxville & Northern.... 908 Atlantic Coast Line 1116 Baltimore Herkimer Mohawkllion& F'lrfortEl.Ry. October... Johnstown Pass. Ry. October... 1117 1011,1019 Bangor & Aroostook Bay Sta-e Gas Buffalo Gas 220,374 147,511 288,886 August Amalgamated Copper American Cotton Oil American Malting American Soda Fountain American Ty pefo und ers American Window Glass . . Ootober... Ootober... Septem'er. 32,833 *48,781 97,331 22,912 28.432 21,610 128,549 240,793 19,570 §Inc. 9 114,419 166 881 194,628 5,977 7,414 29,861 * 5 1,407 77,109 308,421 456.053 786,093 268,595 427,451 617,748 21,846 23,813 247,278 200",626 21,568 167,800 162,344 102 502 1,357,200 1,191,163 229,210 2,cs42,822 2,075,187 19,010 212,464 191,840 .635 5 Inc. 204. 971 108,302 1,106,889 1,052,555 149,179 1,579,675 1.394 732 176,011 1,969,337 1,680.034 3,504 6,960 58,551 61,380 Figures from May 1 cover Soranton Railway, Soranton & Pittston, soranton & Carbondale and Carbondale Railway, t Strike in Cleveland In 1899 1 Strike in August, 1899. $ These are results for properties owned Street Railway Net Earnings.—The following table gives the returns of Street railway gross and net earnings received this week. In reporting these net earnings for the street Add for miscellaneous From which deduot interest. Balance to profit and loss. CONDENSED GENERAL BALANCE SHEET AUGUST 1900. 1899. Assets— t $ R'wy. steam. & equl.3,750,000 3,953.188 2.U00 2,760 oth. comp's. Stocks, 49,472 18.154 Bills and accts. rec. . Materials Due by agents Cash Miscellaneous Total -V. 69, 30,829 11,842 137,240 4,439 3.323 14,612 86,434 31. 1900. 1899. Liabilities» $ B.C.&A. R. 1st M.bds.1.260,000 1,250,000 Com mon stock Preferred stock Other accounts Profit and Total 3,955,404 4,109.778 los 3 1,000,000 1,000.000 1,600.000 1,500,000 84,780 7*. 343 131,u61 274,992 3,955.404 4,109,778 p. 1009. Gila Valley Globe & Northern Ry. {Statement for the year ending June SO, 1900. J We have been favored with the following statement, as it will appear in the forthcoming Saathern Pacific report; also the balance sheet as of June 30: STATEMENT FOK TIIB TEAR ENDING JUNE 30, 1900. Gross. Op. Expenses. Net. Interest. Surplus. $373,049 $151,512 $221,537 $75,700 $145,837 J J December THE CHRONICLE. 8, 1900. A dividend of 4 per cent, calling clared, payable Jan. 1, FAS8ENOEB TBAPFIO. <£ R. Rutland. 0. £ L. O. 147,565 197,868 395,639 53,736 32,980 96,059 4,221,804 2,099,681 9,131,600 1,440,0191,648,192 6,084,713 30-95 2452 l*-62 $-0282 $0253 $0244 FREIGHT TRAFFIC. 5 48, 227,378 192,787 Tons originating on this road 592,693 Tons originating on other roads .. 143,947 574,877 Tons orlginatingon this road, lm.1,584,438 11,581,714 22,331,118 Tons originat.'g on other rds., 1 m. 7,077,478 36,039,727 42,355,228 83-50 4507 5936 Average haul $0153 $0112 Average rate per ton per mile $0069 FINANCIAL RESULTS. INCOME ACCOUNT. EARNINGS ^EXPENSES (313 MILES). Earnings — Net earnings $713,233 18,745 $1,119,992 Rents Freight 625,9^5 Interest and dividends Passenger 85,748 Mai s and express 82,475 Net income Miscellaneous 8,722 $817,726 B. 1901. Assets— 30, 1900. Liabilities Roadway and equip. Due from agents .$3,661,538 16,316 Current acoounts... 23,654 Real estate 7,903 Sinking fund 1,2*0 Material and supplies 6.841 Cash on hand 113,835 — Capital stock $2,000,000 Bonded debt 1,514,000 Bond interest aoorued not matured 12,617 5,8f8 3,784 18.847 1,930 273,301 Pay-rolls Traffic balances Vouohers unpaid Current accounts Profit and loss, balance Total .$3,830,337 $3,830,337 -V. 70, p. 325. Louisville Henderson & St. Louis Ry. (Statement for the year ending June 30, 1900. J The income accounts 1165 for §80,000, has been de- BALANCE 8IIBET OF JUNE Total for the years ending June 30 show 1900. 1899. $680,354 466,538 $532,220 381,047 $525,458 401,990 Net earningB $163,816 $10 1. 812 16,000 $151,173 $103,288 12,000 $123,468 $105,000 12,000 $46,004 $35,885 $6,468 Local passengers Foreign passengers Local passengers one mile Foreign passengers one mile Average distance per pass Average rate per mile U 1898. Gross earnings Operating expenses Interest Taxes Balance, surplus. -V. 63, p. 30. Rutland Railroad Company. (Report for the year ending June 30, President Percival W. Clement says — Total earnings Expenses— $1,837,155 & struc. Maint. of way Maint. of equipment... 0'induct. transport'n.. General expense 1900, $7,644,919 2,220,298 134,485 Real estate Stocks and bonds t2,902,4 28 (cost) Supplies Accounts receivable.. Mortgage refunding.. Cash on hand in banks 164,678 378,510 3,377 182,202 1900. 1899. Increase. $803,520 420,855 $148,984 110,715 Income from transportation $382,665 $38,269 $420,934 Improvements, Etc. Daring the year 75 miles of 56-pound and 60- pound rails have been replaced by 80 pound steel rails, on account of which profit and loss has been charged with $33,008, and the balance included in operating expenses. Thirty-five miles more of 80-pound steel rails were contracted This will make the line for, to be delivered after July first. from Ogdensburg to North Bennington all equipped with heavy rails, with the exception of about 30 miles between — Knapps and Ogdensburg, Ten new steel bridges, built at a cost of $53,102, and a new engine round house at Rutland, costing $16,417, also five new first class coaches, costing $38,661, have been charged to profit and loss. There have also been added to equipment 3 passenger locomotives and 3 freight locomotives, costing $65,011, and 250 box cars of 60,000 pound capacity, costing $137,369. Nothing has been charged to construction during the past year. Rutland- Canadian RR. The large additions to our rolling stock were deemed necessary to provide for the increased mileage and business which will come with the completion of the Rutland Canadian road. The original contract for the construction of the Rutland Canadian Railroad provided that it should be completed Oct. 1st, 1899. Only a part of the road at the present time is open for traffic, but the work is now rapidly nearing completion, and the entire road will be opened for business about December first. The delay of completing this road has been a serious loss to the business of the past year, and its completion will materially increase the earnings of your property. Bennington & Rutland RR. March 1st, 1900, the Bennington & Rutland road was added to the system by the purchase of its entire capital stock for $950,000. It connects with the Rutland Railroad at Rutland and extends southwest to the State line near North Bennington, a distance of 54 miles, and is a part of the through line from New York to Montreal. branch extends from North Bennington to Bennington, a distance of 5 miles. Rutland Transit Co. In October, 1899, your company acquired by purchase the property of the Ogdensburg Transit Co., consisting mainly of 8 boats, with an average of 2,000 tons each, and operating between Ogdensburg and the western cities of he lireat Lakes. company called the Rutland Transit Company was organized and incorporated, and is now operating these boats as a part of the Rutland Railroad system. These steamers are ten years old and cost to build The transit company has purchased valuable $1,600,000. wharf front on the Chicago River, containing 70,000 square feet, and has built thereon a warehouse, which is adequate to its needs, and gives it the best terminal facilities in Chicago. During the season of 1899 the gross earnings of the steamers of the Ogdensburg Transit Co., operated by the receiver, were $352,727; operating expenses, $296,915; net — — A — A earnings, $55,812. — Statistics. The following statistics are furnished, the mile30, 19> 0, being 313 miles : Miles run by passenger trains, 737,962; miles by freight trains, 787,785; miles by mixed trains, 29,160; total revenue train miles, l,554,907 ; total train miles, including switch and work trains, 2,141,832. Gross transportation earnings per mile of road, $6,1*1 net, $2,389; gross transportation earnings per revenue train mile, $1-18; age June t Dividends $554,674 $263,051 Total Surplus 1, 1900. — Cqmmon stock $2,480,600 Preferred stock 4,2*9,100 First M. bonds. 6% - 1,360,100 Second M. bonds, •*%. 4,900 Con. M. bonds, 4^%.. 2,135.000 - * Notes payable 2,295,000 12,931 3,115 472,599 54,965 567,113 5,472 Coupons Unpaid dividends Accounts payable Pay roll acct., June... Improvement fund Profit and loss . . : $952,504 531,570 $70,392 15,000 384,500 84,782 RR Interest Liabilities. Equipment in substance: $251,647 172,894 638,917 60,464 Deduct— Taxes Rent of Addison $1,123,922 Total oper. exp Net earn, from tran sp.. $713,233 BALANCE SHEET JULY Assets— Construction General Results. The figures for the year (see table of "Financial Results'' below) include the Rutland RR., the Bennington & Rutland Railway and the Ogdensburg & Lake Champlain Railway. The accounts of these different roads have not been kept separately, but the gross earnings, operating expenses and net income from transportation of the Rutland RR. compare with the previous year as follows Gross earnings Operating expenses JJ . . . $13,630,896 Total Total $13,630,896 This floating debt is represented by railroads and property acquired to complete the system, and will be paid by sale of treasury bonds. Og. & L. t These securities are ae follows, par value being given: Ch. Ry. common stock. $2,900,000, preferred stock, $1,500/ 00; Benn. & Rut. Ry. stock, $1,000,000; Addison RR. stock, $i35,000; Rutlandstock, $1,000,000; Rutland Transit stock, $1,000,000; Canadian Og. & r>, Ch. Ry. 4% bonds, $1,445,000; Rutland Transit 5% bonds, $66^,000; Rutland- Canadian RR. 4% bonds, $250,000; Rutland RR. 4*a% bonds, $53,000, 5% bonds, $900.— V. 71, p. 1068. * RR Boston Elevated RR. (Statement for the year ending Sept. 30, 1900. The report filed with the Massachusetts Board of Railroad Commissioners for the year ending Sept. 30 last (earlier years being added for purposes of comparison) shows : 1900. 10,141,209 6,828,110 9,671,440 6,827,150 9,179,096 6,566,584 8,719.031 6,213,708 3,313,099 95,785 2,844,290 84,696 2,612,512 78,156 2,505,323 3,408,884 2,932,839 Gross earnings Oper. expenses 1899. 2,928,986 2,615,387 2,690,668 364,091 2,? Net earnings Other income. Total inoome Charges Balance Dividends 1897. 05,323 2,073,751 476.045 313,599 326,577 (4^)337.500 (5^)262,500 (2*4)112,500 Surplus -V. 1898. 138,545 431,572 214,077 51,099 71, p. 437, 235. West End Street Railway of Boston. (Statement for year ending Sept. 30, 1900. The report read by President Little at the recent annual meeting said in substance: Since the last annual report $2,109,000 of 4 per oent 15-year bonds have been sold at a premium of 4-69 per cent. The proceeds were used for the following purposes: $1,930,000, which, with the premium received, amounted to $2,020,517, to repay to the Boston Elevated Railway Co. for permanent additions made under the terms of the lease during the two years ended Sept. 30, 1899. These additions aggregated $2,901,045, but credits for real estate, cars, etc., sold, track taken up, and other sundry items, amounted to $839,36-S makingthe net sum due $2,061,679. The proceeds of the remaining $179,000 of bonds were used to redeem $i 00,000 Highland Street Railway bonds due Jan. l, 1898, and $88,000 mortgage bonds of the Cambridge RR. due in 1903. An account for the 6 months ended March 30, 1900, has been presented bv the Boston Elevated Railway Co. amounting to $693,806, from which credits have been deducted of $206,735, leaving the net of th6 account 8487,071 this account has not been adjusted. No account has been received from the elevated road for the six months t nded Sept. 30, 1900. Since the last annual report the account included in the bond issue shows an addition to the track of the company of 10-54 miles and to the car equipment an addition of 80 open cars. The Boston Elevated Railway Co. has an open account against this company amounting, as they claim, Sept. 3<>, 1&99, to $656,683. This account is for oharges for settlement of olaims for damage to persons and property against the West End Company previous to the lease and tor expenses connected with the same, and for other aooounts. This aooount not beiDg payable under the terms of the lease until the termination of the lease is not adjusted, and is not included as a liability of this company. BALANCE SHEET SEPT. 30, 1900. ; Liabilities — Road $9,816,653 Common stock Equipment 7,392,688 Preferred stock Land and buildings 10,553,090 Bonds Cash and accounts reAccounts payable . . ceivable 1,262,439 Surplus $9,085,C00 6.400,000 12,866,000 604 173,267 ; net, 46 cents. Total -V. 71, p. 1121, 493. $28,524,872 Total $28,524,872 — : ——— — — THE CHRONICLE. 1168 American Pneumatic Service Co. ( Official Statement. J [Vol. LXXI. new railroad and highway bridge proposed to be constructed across the Ohio River between Bellaire, Ohio, and Benwood, W. Va., at a cost of $1,500,000. The incorporators were W. C. Jutte, Pittsburg, Pa.; J. M. Grady, Braddock Pa.; C. Rasser, R. M. Gilleland, G. W. Yost, all of Bellaire, Ohio; W. H. Hearne, of : The Boston Sto:k Exchange has listed 76,225 shares of the company's common and 76,716 shares of its preferred stock, par value $50. The authorized stock is common, 200,000 shares, acd preferred, 100,000 shares; amount issued, common, 92.242 shares; preferred, 83,000 shares. The official statement to the Exchange says: Organization.— The company was organized to manufacture and Bell patented, mechanical contrivances for store service and for conveying parcels, messages and meichandise between stores and other points in streets and public ways of cities and towns. To sell, lease, and dispose of patented apparatus adapted to the service of mercantile establishments, including machines for making change and check slips, or books for cheoking sales, apparatus for advertising or displaying goods, devices intended to facilitate the preparation of merchandise for shipment or delivery to customers; also store furniture for use in decoration. To distribute power by compressed and liquefied air. To obtain, acquire anil hold franchises in the various cities and towns of the United States and foreign countries for the purpose of laying tubes, pipes or other pneumatic contrivances in streets for the conveyance of merchandise as aforesaid. Companies Contbolled.— The company owns a number of patents, and controls, through ownership of a majority of the capital stock, the following comnanies International Pneumatic Service Boston Pneumatio Tube Co. Boston Pneumatio Transit Co. Co. Massachus'ts Pnennatic Tube Co. Lamson Consol. Store Service Co, and a number of sub companies controlled by the latter company. 8ECORITIES.— Tho Lamson Consolidated Store Service Co. has a bonded indebtedness of $5 16,000 in 6 per cent gold bonds, maturing in March, 1909, less a sinking fund of $120,059. None of the other controlled companies has any bonded debt. The preferred stock is non cumulative, and entitled to reoeiye a dividend of 6 per cent per annum, payable in equal quarterly payments, before any dividends shall be declared or paid on the common stock. It is also entitled to a preference in the distribution of assets. The voting power of both classes of stock is alike. Five quarterly dividends of 1*2 per cent each have been paid on the preferred stock. report for the half-year erjded Dec. 31, 1899, was 71, p. 180, showing income from investments, etc., $50,7-11; net available for dividends, $48,798. These results, it The first in V. was explained, covered only three months of active business, Dec. 31, 1899. Tne earnings and expenses from organization to Nov. 15, 19)0, covering, therefore, 13^ viz,, Oct. 1, to months of active business, were as follows: Earnings from dividends on Lamson stocks, rentals, and all other sources Expenses— General, $10,981; royalties, sales legal, $2,26!; patent, $1,397.. Net earnings Five dividendson preferred stock at 1*2 per cent eaoh $295,567 14,640 $280,927 272,190 Surplus $8,737 . Total .$9,178,670 15, 1900. attorney. , Birmingham (Ala.) Railway, Light & Power Co.—Mortgage. The stockholders will meet today to authorize the new $3,500,000 mortgage.— See V. 71, p. 862. — Bituminous Coal Roads.— Increase in Rates.— An advance of 10 per cent in the rates for carrying bituminous coal, it is s'ated, has been practically agreed upon by the Pennsylvania, Baltimore Ohio, Chesapeake Ohio, and Norfolk "Western railroads to take effect April 1, 1901. & & & — Boston & Albany RR. Improvements. Under the lease the New York Central is required to spend at least $?50,00D annually for ten years in improvements. It is now announced that instead of making tnis expenditure gradually during the period named, the greater part of the $2,500,000 will be spent in the near future for extensive improvements at Boston, including a new grain elevator, improved harbor facilities, etc. The work, it is said, will begin as soon as the bonds are floated (see New York Central item, V. 71, p. 963. — Boston & Lowell RR. Bonds. The stockholders on Tuesday authorized the $319,000 of 3% P^r cent 20-year bonds for the purposes stated in V. 71, p. 1086. Chicago & Alton Railway.—First Dividend.—The company has declared a semi annual dividend of 2 per cent on its preferred stock, payable Jan. 10 to stock of record Dec. 20. New Directors.— James P. Forgan of the First National Bank of Chicago and Ex-Grov. David R. Francis of Missouri have been elected members of the board to succeed Rudolph Brand and Bertram M. Winston.— V. 71, p. 1119, 1021, 1012. Chicago Darlington & Qaincy RR.— Bonds Called.— One hundred and sixty 4 per cent and 69 five per cent Iowa Division bonds dated Oct. 1, 1879, of $1,000 each, have been drawn by lot and will be paid at the office of the company, Boston, or the National Bank of Commerce. New York, on April 1, 1901 (after which date interest will cease), at the rate of 105 per cent and accrued interest for 5 psr cent bonds and par and interest for 4 per cent bonds.— V. 71, p. 963, 863. Chicago & Eastern Illinois KR.— Called Bonds.—Five Indian! Block Coal RR. bonds have been drawn for account of the sinking fund, viz Nos. 50 and 75, for $1,000 each, and Nos. 108, 144, and 165, for $500 each they will be paid on presentation at the office of the Farmers' Loan & Trust Co., ,; Liabilities— Pref stock issued Common issued Bills payable Profit and Total loss $4,150,000 5,000,000 19,932 8,738 ..$9,178,670 -V. 71, p. 180. GENERAL INVESTMENT NEWS. RAILROADS. INCLUDING STREET ROADS. Akron & duyahoga Falls Rapid Transit Electric RR. Ohio.— Purchased. — Andrew H. Radel, Vic« President of of the Middlesex & Somerset Traction Go. of New Jersey, has bought control of tbis property on behalf of a syndicate. Possession was taken Dec. 1. Atlantic Coast Line Co. of Connecticut.— Special Dividend.—The $10,(00,000 dividend in 4 per cent certificates of indebtedness autborizsd by the stockholders on Oct. 16, 1900, has not yet been delivered in consequence of tbe engraver's delay in furnishing the blanks, but, we are informed, it will doubtless be delivered in December. The dividend will consist of an issue of $7,500,000 of the Atlantic Coast Line Company's (of Ccnn.) own certificates and a distribution of $2,500,000 of Atlantic Coast Line RR. Co. certificates which are in the treasury of the Atlantic Coast Line Co., both issues bearing interest at 4 per cent per annum, payable January and July.— V. 71, p. 697. Baltimore & Ohio RR.—Rights of Preferred Stock.— John D. Crimmins has brought suit in equity in the United States Circuit Court on behalf of himself and other holders of the preferred stock for a temporary injunction restraining the directors of tbe road from paying to the holders of the common stock the 2 per cent dividend declared payable on March 1, 1901, out of the net earnings for the year ended June 30, 1900. The purpose of the suit is to determine the rights of the preferred stock. The company holds that the preference shares are entitled to only a 4 per cent dividend, and that after the payment of this dividend the remaining profits should be distributed among the common stockholders. Mr. Crimmins contends that the preferred stock is entitled either to a dividend of 4 per cent and an additional pro rata share in common with tne common stock of the remaining profits to be distributed, or at least to a pro rata share with the common stock in any profits to be distributed after payment of a 4 percent dividend to both classes of stock. See editorial article on a preceding page.— V. 71, p. 1119, 1066. Bellaire Benwood <te Wheeling Bridge Co.— In corporation. The stockholders of this new company, incorporated in West Virginia last month with $500,000 stock, have, it is reported, ordered the preparation at once of plans for the — is : BALANCE SHEET NOV. A$ set 8 -— Investment ....$8,848,493 Notes receivable 26,643 1 4,0u0 Accounts receivable . . Due from underwriters 272,820 16,714 Cash Wheeling, the interest ceasing Jan. Coal 1, 1901.— V. 71, p. 1068, 388. & Iron Railway.— Guaranty.— Tbe guaranty upon the bonds of the company is signed and sealed by the President and Secretary of the West Virginia Central & Pittsburg Ry. and is in the following words: For valuable considerations the West Virginia Central & Pittsburg Railway hereby guarantees the punctual payment of the principal and interest upon this bond at the times and in the manner therein specified, and covenants with the Mercantile Trust «fe Deposit Co. of Baltimore on default in the payment of any part thereof by the obligor to pay said principal and interest as the same shall become due In witness whereof, the said railway company has caused its corporate seal to be hereto affixed and attested by its Secretary and this instrument to be signed by its President. West Virginia Central & Pittsburg Rt. Co. Attest: C. M. Hendley, Secretary. G. Davis, President. V. 70, p. 1095. See also V. 71, p. 860. H — — Connecticut River RR. Authorized. The shareholders on Dec. 4 authorized the proposed issue of 500 shares of new stock and $335,000 bonds for funding indebtedness and for additions and permanent improvements. V. 71, p. 1120. Cuba Company. Official Statement. — — President Van Home in Santiago, Cuba, on Nov. 27, is quoted as saying: The company's purpose is to develop the resources of the eastern We expect in the course of the next eighteen portion of Cuba. months to complete the projected railway from San Luis to Santa Clara, thus connecting Santiago and Havana by rail It is our intention to encourage the immigration of Spanish and other white laborers, and we will give land along the railway to suoh immigrants, expecting in this way to promote the development of the interior. We have no intention whatever of disregarding the Foraker law, but are willing to take our chances as to future legislation, whatever form of government is established in Cuba, Our company is now operating without a franchise, but we are only building a railroad on our own lands, which would be within the right of any owner.— V. 70. p. 995. Delaware Lackawanna & Western Essex RR. below.— V. RR.— See Morris & 71, p. 963, 341. — Denver & Rio Grande RR. Dividend Increased. The company on Thursday declared a semi annual dividend of 2K per cent on its preferred stock, payable Jan. 15, to stock of record Jan. 2. The dividend paid in July last was 2 per cent. The surplus for the six months ending December 31, November and Ddcember estimated, wiil be about $950,000, equal to about 4 per cent on the preferred stock. New equipment costing $360,000 has been ordered and will be charged to profit and loss, leaving the equipment account unchanged. V. 71, p. 863, 394, 387. Fonda Johnstown & Gloversville RR.—Bonds Offered.— The company recently invited sealed proposals for $i00,000 of its 4 per cent general refunding mortgage 50 year gold bonds. No more, it is stated, will be sold prior to October 1, 1901. The total authorized is $l.500,0U(), of which $200,000 bal previously betn issued an additional $700,000 In addition to its is reserved to retire underlying bonds. own 33 miles of standard-gauge road, the company controls ; — — December — THE CHRONICLE. 8, 1900.] and operates, tinder a 999 years' lease, the entire electric system of Gloversville, Johnstown and vicinity, about 19 miles. It has also recently purchased the Amsterdam Street RR., covering the street railway and electric lighting business of Amsterdam, N. Y. The company further holds in its treasury the entire capital stock, viz., $105,000, of the Coal Company of Fulton County, which was recently acquired and whicn has for 13 years paid dividends to its stockholders averaging over $22,C00 per annum also $200,000 first consolidated 5 per cent bonds of the Cayadutta Electric Railway Co., from which it derives an income of $10,000 per annum. V. 71, p. 1167 bonds have yet been sold, but the mately $7,000,000. To refund bonds already matured first issue will $750,000 420,000 bonds due July 1, 1901 bonds due Oct. 1, 1901 To pav advances from D. L. & do do 4,991,000 W — V. ^0, p. 480. beapproxi €00,000 Northern Pacific Railway.— St. Paul-Duluth Division Bonds Offered. J. P. Morgan & Co. are offering at par and interest $9,215,000 of the company's St. Paul Duluth division 4 per cent bonds of 1900, due Dec. 1, 1996, interest June 1 and Dec. 1. These bonds cover the former St. Paul & Duluth RR. and branches, together with leases of the Minneapolis & Duluth and Minneapolis & St. Louis railroads, exNorthern RR.— Dividend.— The com- tending between St. Paul, Minneapolis and Duluth, com- ; — — 182, 84. Gila Valley Globe & pany has declared a dividend of 4 per cent, payable Jan. 1. prising about 238 miles of productive railroad, besides valuA statement for the year ended June 30, 1900, is given under able terminals at the head of Lake Superior. Title to the " Annual Reports " on a preceding page.— V. 70, p. 325. entire property has been acquired directly by the Northern Railway Co., and the St. Paul-Duluth Div. bonds are Host oiivilie Mantua & Fairmount Passenger Ry.— Ma- Pacific secured by a purchase-money mortgage upon the property turing Bonds.— The $124,500 Fairmount Passenger Ry. 6 per above mentioned, subject only to existing bonds and car -trust cent bonds falling due Jan. 1, 1901, will be paid at maturity obligation^ aggregating $5,283,000 par value, to retire which a at the Real Estate Title Insurance & Trust Co., Philadel- corresponding amount of the new bonds is reserved. The total authorized issue of the new 4s is $20,000,000, of which Indianapolis & Greenfield Rapid Transit Co.— Bonds the bonds now offered were issued in connection with the Offered.— Denison, Prior & Co., of Boston and Cleveland, are purchase of the property an additional $5,283,000 is reoffering the company's $300,000 of 5 per cent first mortgage served to retire the underlying bonds and the remaining gold bonds, due 1929, secured by sinking fund and subject to $5,502 000 for improvements, extensions, terminals and call after five years in numerical order at 105 and interest. double track. See Street Railway Supplement, p. 44. V. 70, p. 583. The lands included in the land grant of the St. Paul & Lake Street Elevated RR. of Chicago.— New President.— Duluth RR. Co., estimated to be * orth about $4,000,000, and Charles E. Yerkes, son of Charles T. Yerkes, has been which were not covered by the old mortgages of that comelected President to succeed Howard Abel, who will go to pany, are to be sold and the proceeds applied to the purchase London to assist C. T. Yerkes in his English enterprises. V. of the new S f Paul-Duluth Division bonds at not exceeding 105 per cent and accrued interest or, if bonds cannot be 71, p. 135. purchased at that price, then to betterments, improvements, Lake Superior & Ishpeming Ry. Bonds Called— Forty first mortgage $1,000 bonds secured by mortgage to the or additions to the mortgaged premises or the purchase of Farmers' Loan Trust Co dated Jan. 1, 1896, have been equipment for use thereon. A contract has been made with selected by lot for payment at 105 and accrued interest on the Chicago Milwaukee & St. Paul Railway Co. for the use Jan. 1, 1901. The company owns 20 miles of road extending of the S Paul & Duluth line between St. Paul and the head from Marquette to Ishpeming, and has issued $1,000,000 stock of Lake Superior, for ninety-nine yesrs from Oct. 1, 1900, (par $100) and $1,200,000 first 6s (J&J), due in 1926. Wm. G. which gives the business of that company to said line excluMather of Cleveland is President and James H. Hoyt of the sively. See further particulars in advertisement on another same city is Secretary. J. H. Waae of New York is a director. page.-V. 71, p. 1013,1016. Ohio River RR. Reported Negotiations. The " Baltimore Lehigh Valley Traction Co.— Lease Ratified.—The stockSun " says negotiations are pending for a long lease of this holders of the Easton Consolidated Electric Co. on Nov. 30 road to the Pennsylvania RR. Co. V. 70, p. 1046. ratified the leaf e of the property to the Lehigh Valley Traction Co. See V. 71, p. 1067. Pembroke Street Ry. Bonds. The Massachusetts Railroad Commission on Dec. 3 heard the company's petition for Lexington & Boston Street Ry. Bonds Offered. C. P. Phelps & Co. of Boston are offering $70,000 of the authority to issue $270,000 in first mortgage bond3 to retire company's $250,010 i% P er cent first mortgage gold bonds the bonded indebtedness of the Plymouth & Kingston Street dated April 1. 1900, due April 1, 1920. The earnings for the Railway, which it absorbed, and for the right to issue $80,000 additional capital stock. No objections were offered; the first six months are stated in an advertisement as: Gross, net, $24,203; interest on bonds, $5,625.— V. 70, board took the matter under advisement. $59,740; Pittsburg Bessemer & Lake Erie RR.— Lease.— The Carp. 1095. Little Kanawha RR.— Change rf Control— & syndicate of negie Company has intimated its willingness to lease the Pennsylvania and New York •apitalists, it is reported, has propeity at a rental sufficient to pay 3 per cent on the comacquired control of this road, extending from Parkersburg. mon stock, provided the minority stockholders of the railW. Va., to Palestine, 30 miles, and has also purchased about road company approve. The stockholders will be asked to 25,000 or 30,000 acres of coal lands in Braxton, Gilmer and consider the matter in the near future. The Carnegie ComLewis counties. It is expected that the line will now be ex- pany owns $6,000,600 of the $10,000,000 stock (see V. 71, p. tended, as originally intended, from Palestine to Burnsville, 1014).—V. 71, p. 1121, 285. making a total of 112 miles, in order to develop the coal Plymouth & Kingston Street Ey. See Pembroke Strt et property. H. C. Jackson will continue as President, but B. Ry. Co. E. Cartwright has been ehcted Vice President and General St. Louis & San Francisco RR.— Northwestern Division Manager. See Investors' Supplement, page 81. Bonds Offered. A. G. Edwards Sons and the Mississippi McKeesport Wilinerding & Duquesne Ry.— Sold— See Valley Trust Co., both of St. Louis, recently offered at 92 Monongahtla Street Ry. Co. below.— V. 71, p. 1013. and accrued interest $250,000 of the Northwestern Division first mortgage bonds, dated April 1, Monongahela Street Ry.— The "Pittsburg Gazette" says and due April 4 per cent gold payable Oct. 1 and April 1900, 1, in 1, 1930; interest the company has absorbed the McKeesport Duquesne New York; denomination, $l,c00 and $500. Continental Wilmerding and the Mon-Yoogh Street Railway com- Trust Co. of New York, trustee. The total authorized issue panies' lines, the consideration being about $600,000. Trie is $1,300,000, of which $1,100,000 issued. The above bonds first-named line extends from Duquesne to McKeesport, are a first mortgage on that part of the road extending from Wilmerding, etc. Th« Mon-Yough line extends from the Wichita, Kan., to Ellsworth, Kan., total track of 11595 B. & O. depot in McKeesport to Buena Vista.— V. 67, p. 74. miles, including terminals, rolling stock, etc., belonging to Montana RR.— New Bonds. This company has made a tbis division, being a bonded indebtedness of $11,250 per mortgage to secure $2,000,000 first mortgage 30-year 5 per mile.—V. 71, p. 1013, 809. cent gold bonds, due July 1, 1930, interest being payable Jan. Seaboard Air Line Ry.—Status.— The New York " News and July at the Central Trust Co., New York, trustee. Of Bureau" yesterday quoted Mr. Robert C. Davidson, Presithe bonds, $999,000 are stamped on their face as redeemable dent of the Baltimore Trust & Guarantee Co. of Baltimore, at 105 and accrued interest on six months' notice there is as saying, in the conference of Seaboard Air Line no provision in the mortgage for paying off the loan before officials " relation to The board has important matters under considermaturity. All the bonds are outstanding, together with ation, the details of which it would be improper for me to $1,574,000 capital stock. From the proceeds of the bonds the divulge at this time. I will say, however, that I consider $1,500,000 first consolidated mortgage bonds, dated July 1, the situation more favorable than at any time since the con1896, were redeemed. The road extends from Lombard, ception of the scheme for the consolidation of the constituent Montana, to Harlow. 100 miles. The officers are: Presiproperties of the Seaboard Air Line."—V. 71, p. 914, 864. dent, H. D. Moore, Philadelphia, Pa.; Secretary, W. J. Fuchs, Seattle & San Francisco Railway & Navigation Co.— New Helena, Mont. Vice-President and Treasurer, Richard A. Director E. C. Neuf elder has been elected a director in Harlow, Helena, Mont. place of R. F. Guerin, resigned, at one time President of the phia.—V. 66, p. 236. ; — — . ; & , f . — — — — — — — & & — ; : ; Morris & Essex RR.— First Refunding Mortgage.—The company. The refunding mortgage referred to at length in the last annual report of the Delaware Lackawanna & Western RR. Co. (see V. 70, p. 477,) was filed on Tuesday. It is made to the Farmers' Loan & Trust Co. as trustee, and is for the total authorized sum of $35,( 00,000, the bonds being gold B}4 per cents dated Dec. 1, 19C0, and due Dec. 1, 2000, interest J. & D. Of the authorized issue, $23,968,000 is reserved to retire the existing bonds, mostly 7s, and the remaining $11,000,000 is app icable to improvements and additions, No first — officers now are : President, John Leary; Vice-President and General Manager, E. C. Neufelder; General Superintendent, 8. L. Shuffleton; Secretary and Attorney, Pierre P. Feiry; Auditor and Treasurer, W. E. Butler.— V. 71, p. 1068, 964. Southern Railway.— Called Bonds.— Fifty-three thousand dollars ($53,000) Georgia Pacific Railway equipment mortgage boi ds dated July 17, 1889, have been drawn for the sinking fund, and will be paid at the Central Trust Co. on Feb. 1 at par and accrued interest.— V. 71, p. 1068, 8C9. —— — —— — —— THE CHRONICLE. 1168 Third Avenue RR. Bonds Over- Subscribed.— The subscriptions to the $10,000,000 4 per cent guaranteed bonds, which were opened yesterday at the office of Kuhn, Loeb Co., were immediately closed, applications having been received far in excess of the amount offered. V. 71, p. 1121. & — Twin City Rapid Transit Co.— Called Bonds.— Twenty Minneapolis Street Railway bonds of 1880, viz. Nos.: 2, 28, 40, 47, 51, 55, 82, 84, 138. 155, 174, 197, 211, 215, 288, 290, 329, 334, 355, 365, have been drawn and will be redeemed at 105 and interest upon presentation at the Farmers' Loan interest ceasing on May 1, 191)1. V. 71, p. 699. — & Trust Co., — Western, Etc., Roads. Meeting. The regular quarterly meeting of the Presidents of the Western and other roads was held in this city on Wednesday, Thursday and Friday. The reports of all the committees were received and the St. Paul & Kansas City committees will return to theirjrespect ive territoriesjand endeavor to work out a solution of the rate question there. Conservative men who have closely watched the proceedings of this conference, say that they are more than ever convinced that something in the nature of a pooling law will be necessary before all the railroad companies can be held strictly to an agreement. The most important step, however, taken at the meeting was the appointment of an Advisory Committee as set out in our article on the "Financial Situation."— V. 70, p. 481. West Virginia Central & Pittsburg Railway.— Guaranty. —See Coal & Iron Ry. above—V. 71, p. 860. Wheeling (W. Va.) Traction Co. Consolidation.— Ar\ exchange on Friday said: "At a meeting in Wheeling, W. Va,, yesterday a consolidation was effected of the Wheeling Rail- Co., the Citizens' Railway, the Moundsville & Wheeling Railway and the Bellaire Bridgeport & Martins Ferry Railway. These are all the traction companies operated in Wheeling and its vicinity except the Wheeling & Elm Grove Railway, running from Wheeling to Triadelphia. The new company will be known as the Wheeling Traction Co. No information as to capitalization was given out." way V. 70, p. 77. White Pass & Yukon Ry. Bonds Offered— Refunding. — The company is offering £750,000 of 5 per cent consolidated mortgage debentures to convert into one security all its existing securities and to provide cash to pay for the section of railroad irom Bennett to White Horse, on the Lewis River. The chairman, the Hon. S. Carr Glyn, at the annual meeting in London, Nov. 19, said : There are three issues of debentures made by the company, all carrying interest at the rate of 6 per cent. We have successfully arranged to convert these three Issues into one consolidated issue of 5 per cent debenture stock, affording us a considerable saving in interest Holders of £435,000 out of £469,000 of securities actually issued have so far signified their intention of exchanging the 6 per cents for the 5 per cents. A public issue of this consolidated stock will be made In a fewdajs. The balaiace of profit and loss account is £83,315, sufficient to have paid a satisfactory dividend, but this, in accordance with the sanction of the meeting last year, has been expended in the further construction of the railway.— V. 71, p. 136. first INDUSTRIAL. GAS AND MISCELLANEOUS. Allegheny Steel & Iron Co.—New Enterprise.—This company, organized in Pittsburg last September, is placing contracts for its three-mill sheet plant, which will be located in the Allegheny Valley, near Tarentum, Pa. The Pittsburg "Gazette" says: The work will comprise two 30-ton steel fnrnaoes, a large bar mill and an 8-mill sheet plant, the latter to produce high-grade steel sheets. Galvanized sheets will also be produced. Contracts for all the buildings and their equipment have been placed, the American Bridge Co. having the structural contraot. The n ills are to be modern In every respeot. Capt. Alfred Hicks, of Pittsburg, is the President; H. E. Sheldon, General Manager, and H. M. Brackenridge, of Natrona, le a director. The controlling interest is held by Capt. Hioks and other Western Pennsylvania capitalists and associated with them are New York, B-ltimore and Delaware capitalists. The company Is authorized to issue $300,000 capital stock, which is to be largely increased later on. [Vol. LXXI. collateral advantage of owning our own boats. Transportation rates have advanced 20 per cant since the contraot was made.— V. 71. p. 1122,1014. American Sugar Refining Co.— Exchange About Com- — pleted. All except three or four of the preferred shares entitled to semi-annual dividends have been exchanged for preferred stock entitled to quarterly dividends.— V. 71, p. 914, 699. — American Woolen Co. On Boston Unlisted. The company's stock has been admitted to the unlisted department of the Boston Stock Exchange. The authorized issues are: Common, $40,000,000; preferred, $25,000,000. Amount issued: Common, $29,501,100; preferred, $20,000,000.—V. 71, p. 1069. Antomatic Car Ventilating Co.— Incorporated.—This company has been incorporated in California, authorized capital stock $2,500,000. Incorporators: B. F. Clarke, R. W. Smith, R. L. Rigdon, T. L. Fors, all of San Francisco. Bellefonte (Pa.) Iron & Nail Co.— Sold.—This company's plant, consisting of building, equipment, etc., erected in 1878 at a reported cost of $185,000. it is stated was sold recently at assignee's sale to a Philadelphia firm of junk dealers for $6,375. Bell Telephone Co. of Montreal.— New Securities.—The stockholders, it is reported, have authorized the issue of $2,500,000 of debenture bonds; also an additional amount of common stock if deemed necessary. V. 70, p. 428. — New England Water Works Co.—V. 70, p. 1097. Brewery Companies. Proposed Reduction of Tax. —The bill reducing the war taxes as introduced in the House at Boston Water & Light Co.—Sae Washington on Thursday provides a discount of 20 per cent on beer, in lieu of the present 1% per cent reduction, making the new rate $1 60 per barrel. This will reduce the tax paid by the brewers by about $10,000,000, but is far less than they sought, and, it is said, still in the tax of $2 per barrel hope to obtain in the Senate. Calumet & Hecla Mining Co.— Dividend. The company has declared a dividend of 80 per cent payable Dec. 28, and — calling for $2,000,000, making 280 per cent ($70 per share) paid for the calendar year 1900, against 400 per cent in 1899.—V. 71, p. 1122, 493. Carnegie (Steel) Co.— Leading Stockholders.—The "Philadelphia News Bureau" gives what purports to be a list of the company's 34 stockholders. Those holding over $1,000,000 of the $160,000,000 stock are named as follows: AndrewCarnegie,N.Y.$8 6,379,000 F. T. F Lovejoy, Pitts. 7,024,000 I Chas. M.8ebwab.Pltts. 18,929,000 Henry Phipps, Pitts.. 17,226,000 Henry C. Frick, Pitts. 15,484,000 | Wm.H.Singer.Alleg'y. Law'e C.Phipps, Pitts. 2,829,000 2,6>3,000 | Each stockholder, it is stated, received a the $160,000,000 bonds.—V. 71, p. 1069, 1014. Celluloid Co. — Extra Dividend. — The like amount of directors have declared a quarterly dividend of \% per cent, with an extra 1 per cent, payable on and after Dee. 31, 1900, to stock of record Dec. 14.— V. 69, p. 1195. Citizens' Gas & Fuel Co. of Dunkirk. N.Y.— Incorporated.— This company cas been incorporated with $200,000 authorized capital stock to supply gas in the towns of Dunkirk and Pomfret, Chautauqua County. The directors are: Charles P. Street, Hunter Wykes and William B. Hord, all of New York City. Compressed Air Co.— Purchase.— The company has acquired control of the Rome Locomotive Works Co. of Rome, N. Y. The interest on the $75,000 of 6-per-cent bonds of the Rome company is payable at the Atlantic Trust Co.—V. 71, p. 865. Compressed Gas Capsule (''Sparklets") Co.— Stock Offered. company is the sole manufacturer for the United States, Mexico, South America, Cuba, Porto Rico, Canada and British America of the so-called "sparklets," namely, small steel capsules filled with carbonic acid gas, by which The drinkable liquids may be "carbonated" at home. capital stock is $13,500,000 common stock and $1,500,000 is 8 American Ice Co. Acquisition.— Atlantic City advices say the company has purchased a controlling interest in the per cent cumulative preferred. The company has recently stock of the Atlantic City Cooling & Ice Co., and will take been offering, through the Continental Trust Co., $500,000 of possession on Jan. 1, 1901. It is also rumored that the trust the preferred stock at par, two shares of common to be given An advertisement says will purchase the Citizens' Ice Co. and the Seaside Ice Man- as bonus with each share of pref Tne new factory, looated at Bridgeport. Conn., is now oomplete and ufacturing & Cold Storage Co. of the same locality. V. 71, —This . — : equipped under the direct supervision of the inventor of sparklets, p. 1121, 1068. Euiile Sterne, C. E., of Paris, Franoe. It oonsists of a brick building American Sheet Steel Co.— First Dividend.— A quarterly 200 feet long by 60 feet wide and two stories high, where anything is made. The builddividend of 1% per cent has been declared upon the pre- pertaining to the business, except glass bottles,manufactures its gas complete gas plant and ferred stock, payable Jan. 15 to stock of record Dec. 22. — V. 71, p. 1068, 810. — American Snuff Co. First Dividend. The company has declared a dividend of 3 per cent on its preferred stock, payable Jan. 2 to stock of record Dec. 22.— V. 70, p. 634. American Steel & Wire Co.—Proxies Asked.— Welles, Herrick Hicks "solicit the co-operation of all stockholders who desire the election of an efficient board of directors at the next annual meeting to be held on Feb. 21, 1901." Blank proxies can be obtained at their office,15 Wall Street. Steamship Purchase.— director is quoted as saying : There were fourteen members present at the board meeting, and Mr. Sielcken was the only one who opposed the plan for purchasing the boats of the American Steamship Co. The allegation is that Mr. & A Gates made money out of the transaction because he owned the boats. The way I look at lc is, What is the benefit derived by the wire oompany 1 It pays out no money to purchase the vessels. Bonds are endorsed and we receive all the s'ook for so doing. In twenty years we should be able to save enough on the cost of transportation to oover the value of the boats and something over, besides having the is equipped with a from the burning of coke, which is passed through lime water, rendering it absolutely pure. Every syphon sold begins at once to produoe a revenue by creating a demand for oapsuies. experience teaching that each syphon earns at least $10 a year, and a conservative estimate of 300,000 syphons sold during 1901 will produce a profit of over $3,000,000. In the present year, without any factory, without goods to supply the increasing demand, and with imported goods which were mostly defeotive, the sales have been sufficient to pay an 8 per oent dividend on every share of the preferred etook issued. Francis Gordon Brown is Prehident and John Auchincloss, Secretary, 1127 Broadway, N. Y.— V. 68, p. 670. Consolidation Coal Co. of Maryland.— Called Bonds.— The following fifteen ($15,000) first mortgage bonds, dated Jan. 1, 1897, have been drawn for the sinking fund and will be paid on Jan. 1 at the Guaranty Trust Co. of New York at 105 per cent with accrued interest, viz.: Nos. 71, 90, 106. Ill, 182, 282, 343, 363, 368, 380, 398, 457, 495, 501, 562.— V. 71, p. ing 1069. Continental Tobacco Co.— Acquisition.— We are officially informed that the business of Rice & Vaughan, plug manu- — — December ember last.— V. was purchased for cash in Sept- 71, p. 1122, 965. (Wm.) Cramp & —A director Sons' Ship & Engine Building Co.— Plan quoted as follows The idea being worked on contemplates first obtaining from Viokers' Sons & Maxim, England, the nse in this country of their valuable rights pertaining to the manufacture of armor and ordinance and, is — — THE CHKONICLE. 8, 1900.] facturers of Louisville, Ky., — : : ; secondly, the acquisition of a steel plant in Pennsylvania. There will be no consolidation with the English firm and their plant and business will not be taken over in any way. In order to oarry out the proposition a large amount of new oapital will be required, and the capitalization will be around $25,000,000. When it is done Oramp Co. interests and Philadelphians will remain in control and in active management of the new company, for the stock of which Cramp stockholders will be allowed to exchange their present holdings. The general soheme is more advanced than it has ever been before, though much depends at this time on the question and cost of securing the Midvale or other suitable steel plants.— V. 71, p. 234. Denver Union Water Co. Injunction.— A temporary injunction was served Nov. 29 upon President Joel Shackelford of the city Board of Public Works, stopping all further sale of city bonds of the $4 700,000 issue for the construction or acquisition of a municipal water plant, V. 71, p. 700. — 1169 Hammond Ice Co. of Baltimore.— Plans.— Or mond Hammond, the President, is quoted as saying that while nothing definite has been done and neither the stock nor bonds have been taken up, he has been requested to extend operations to New York and Philadelphia. About $10,000,000, he says, will probably be required to carry out the project. Work on the two Baltimore plants is expected to begin next month and to be completed about May next. The present authorized capitalization, it is said, is $2,000,000 stock 000 six pet cent bonds.— V. 71, p. 1070. and $1,250,- Harrisbnrg (Pa.) Light Heat & Power Co.— Status.— This company was organized in July, 1899, to take over all the electric-light properties of Harrisburg, Pa., and for this and other purposes issued $1,000,000 capital stock (par $50) and $1,000,000 of first mortgage 5s due July 1, 1924, interest Jan. 1 and July 1. The $125,000 of underlying bonds were retired; the new bonds were placed by E. C. Jones & Co. Dividends of 1 per cent quarterly were begun last April, and the earnings are said to be considerably in excess of this amount.— V. 69, p. 745. International Packing Co.— To Liquidate.— The stockDominion Iron & Steel Co.— Operations.— The company, holders on Dec. 4 voted to liquidate tne company. See ofit is stated, has begun to operate its coking plant, and will ficial statement in last week's Chronicle, p. 1118, 1123. start making iron Dec. 15.— V. 71, p. 1122, 1070. Kings County Electric Light & Power Co.— Ex-rights.— Edison Electric Illuminating Co. of Brockton.— Refund- The right to subscribe to 25 per cent new stock at par became ing Bonds.— The company has been authorized by the Massaoperative on Nov. 28, and later the stock was quoted ex-divichusetts Commission to issue $100,000 of 5 per cent 30-year dend and ex- rights. The rights£are quoted 10 bid and 12-asked. bonds to replace th<=> old mortgage bonds called for payment The company is reported to be doing very well in earnings, some time since. The capital stock is $100,000, and it is pro- although it is compelled to expend a great deal of money in posed to increase this to $200,000 to provide for acquiring extensions and improvements. The half million dollars readditional property and to pay floating indebtedness. ceived for its new stock and a million or more received from Electric Yehicle Co.— New Officers.— George H. Day of the sale of 4 per cent Edison bonds is being or has been exHartford on Thursday was chosen President to succeed pended on betterments.— "Brooklyn Eagle."— V. 71, p. 1015. Robert McA. Lloyd, resigned. John Jacob Astor resigned Marietta (0.) Electric Co.— Stock.— The company has inas a director, as he will be away from New Yoik most of the creased its authorized capital stock from $75,000 to $250,000. winter, and George Chapman was elected his successor, it is Maritime Canal.— See Nicaragua Canal below.— V. 70, p. 897. stated, to represent the Astor interests. As a result of the purchase of the Riker Company, mentioned below, F. C. Maryland Coal Co.— Extra Dividend.— The company has Stevens of Washington, D, C., formerly President of the declared the regular semi-annual dividend of 2 per cent and Riker Co., was elected a director. T. J. Regan, said to rep- an extra dividend of 1 per cent on the preferred stock, payresent W. C. Whitney, was also placed on the board. H. able Dec. 31.—V. 70, p. 685. M. Byllesby, formerly General Manager of the Riker ComMedina (N. Y.) Gas & Electric Light Co.— Receiver.— pany, was elected First Vice-President; W. H. Johnson. Judge Fitzgerald of the Supreme Court has appointed General Manager of the Electric Vehicle Co., was elected Augustus H. Vanderpoel permanent receiver. — V. 71, p. 866. Second Vice-President, and A. L. Riker, Second Vice PresiMissouri River Power Co. New Company. This comdent of the Riker Co., was elected Third Vice-President; pany, owning a plant at Canyon Ferry, near Helena, on the Frederick Vie wig was elected Treasurer. William C. WhitMissouri River, has recently absorbed the Helena Water & ney and his associates are understoood to control both the Electric Power Co., and is now buildina: a 66- mile electric Vehicle Company and the Storage Battery Company. The folline to Butte, to be completed about July 1 next. Purchase of the Riker Company. — It was announced on lowing information has been furnished us from official Thursday that the company had acquired control of the sources: The present horse power of the plant is 3,000, Riker Electric Vehicle Co.. a company incorporated in New which will be increased to 9,0(0. The capital stock consists Jersey in June, 1899 (see V. 68, p. 1227), with $7,000,000 of of 20,000 shares of $100 each (all common), to be issued when authorized capital stock, of which $5,000,000 common and subscriptions are all paid in. The company will issue for preferred. This stock, we are informed, is $2,000,000 the payment of the present plant its $750,000 six per cent 20all issued but not full paid. The entire amount has year gold bonds. The officers are: President, Barton Sewell; been purchased by the Vehicle Company. The acquisi- Vice-President, W. S. Gurnee Jr.; Secretary and Treasurer, tion, it is believed, "will give the Electric Vehicle Co. a H. Suhr; General Manager, M. H. Gerry Jr. The office is at complete monopoly of all the patents for manufacturing 71 Broadway, New York.—V. 71, p. 1123. electric vehicles in this country, and probably also control of Newark (Ohio) Water Co.— Increase of Stock.—The stockall the patents for gasoline vehicles." For the stock acquired in the Riker Company, the Electric Vehicle Co., it is ex- holders of this corporation, created under the laws of West pected, will issue about $1,' 00,000 each of its own common Virginia, will meet at the office of the company in Scranton, and preferred, making thereof $10,400,000 and $8,400,000 re- Pa., on Dec. 24 to vote on increasing the capital stock from spectively outstanding. The corporate existence of the Riker $73,500 to $200,000, the par value of shares being $100. Company, it is understood, will be maintained, and its plant New England Water Works Co. Agreement.— A St. Louis at Elizabethport, N. J., will continue in operation. The Elec- paper says — Vehicle Co. has also bought from Mr. Riker personally foreign patent rights, the Riker Motor Vehicle Co. having owned only the United States patents. V. 71, p. 1015. Elgin National Watch Co.— Called Bonds.— As foreshadowed last week, this Illinois corporation has drawn by lot and called for payment $500,000 of its $1,000,000 six per cent $500 certificates of indebtedness, dated July 1, 1887, and due July 1, 1907, with interest payable semi-annually on Jan. 1 and July 1 at the Merchants' National Bank of Chi cago. The company had the option of converting these certificates into stock at par, but instead has decided to pay them off at par in cash; accordingly it will redeem them at its office, No. 76 Monroe St., Chicago, on Feb. 1, 1901. Charles H. Hubbard is President and Wm. Geo. Prall Secretary.—V. 71, p. 1122. tric all his — Acoording to the agreement by which Receiver Trueman A. Taylor allowed to remain in charge, the [equipment of the (?)] pumping station that supplies the city of Alton with water will become an asset is for the benefit of the creditors of the New England Water Works Co., who are endeavoring to foreclose the $200,000 mortgage. When the new pumping station of the Boston Water & Light Co. was erected outside of the city limits, the oostly and almost new machinery of the New England Water Works Co. was moved to the new pumping station ana the old building, held under lease expiring in January, was abandoned without the knowledge of the creditors. In order to gain possession of this pumping machinery the mortgagees of the New England Water Works Co. endeavored to remove Receiver Taylor, claiming that he was oonneoted in business relations with President Venner. The agreement is considered a victory for tne creditors.— V. 70, p. 1294. — Nicaragua Canal. Report of Commission. The Isthmian Canal Commission, in its report, submitted to Congress on Dec. 4, unanimously concludes that "the most practicable and feasible route for an Isthmian canal, under the control, Equitable Illuminating Gas Light Co. of Philadelphia management, and ownership of the United States, is that Called Bonds.— One hundred and thirty four ($134,000) bonds known as the Nicaragua route." The estimated cost by this of 1898 have been called and will be paid at 105 and accrued route is given as $200,540,000, an amount much larger than interest to Jan. 1, 1901, at the New York Security & Trust heretofore suggested, owing to increased dimensions and Co., 46 Wall St., New York City, on and after Jan. 2, 1901. Commission esThe numbers of tne bonds called are given in an advertise- other features not previously included. The timates the cost of completing Pana na canal at $'42,342,579, ment on page viii of to-day's Chronicle.— V. 71, p. 915. according to one route, or $156,378,258, according to another Fisheries Co.— First Dividend. This reorganized company route, exclusive of the work already done, the value of which has.declared out of earnings a eemi-annual^dividend of Z% per is estimated at $33,934,463, this last including the stock of cent on the preferred shares, payable on and after Jan. 1, the Panama RR. Co. at par. The distance from ocean to William R. Morse ocean by the Nicaragua route is about 186 miles, and by the<. 1901, to holders of record Dec. 11, 1900. is Treasurer.— V. 70, p. 1052. Panama Canal 35 miles. The altitude above tidewater to be General Electric Co. Debentures Converted.— On Dec. 1 overcome in the case of the latter is only about 300 feet. The $1,117,000 of the debentures had been surrendered and can- advantages in favor of the Panama route, however, are more celed and there had been issued therefor 9,277 shares of than offset in the opinion of the Commission by various discommon stock. There are. therefore, outstanding $4,181,- advantages, as stated below. 000 debentures and $19,203,700 of common stock.— V. 71, p The short section of the Nicaragua Canal partially constructed is described as perhaps in as good condition as it was 1122, 1015, 1011. — — — THE CHRONICLE. 1170 when the —— — — work was stopped. But the buildings and dredg boats, etc., are worthless. To build a canal by this route, it is believed, would require ten years' work, the main difficulty beirjg thp great dam across the San Juan River, to regulate the waters of the lake. The canal proposed would be 150 feet wide and 25 feet deep. The estimated cost is as ers, follows Eastern division (from Greytown to Booa San Carlos dam) $82,662,000 Middle division (from Boca San Carlos dam to Las Lajas) 25,4^5,000 Western division (from Las Lajas to Brito) 51,680,0( : Ninety-eight miles of railroad Engineering, police, sanitation, gencies . 7,350,000 and general contin33,413,000 Aggregate [Vol. LXXI. obtained to the Lowry gin patent, which bids fair to be of great value. There is now outstanding $15,000,000 stock, represented by trust receipts, which will thus be increased to $20,000,000. No preferred stock or bonds have ever been is issued. Status. — A director is quoted assaying: We feel that the success of our bale both at the manufacturing end in the sale of the product has been established, and the outlook in both branches is perfectly satisfactory. The principal drawback has been the lack of working capital, which has now been overcome by the sale of the new stock, or trust receipts, mostly to persons not heretofore interested in the company. The *1, 100,000 derived therefrom will pay the entire indebtedness and leave a large cash surplus. We believe the predictions of the past as regards the prospective business and profits are now in a fair way of realization. It is noteworthy that it but half of the cotton crops of the United States were baled by Lowry presses, the royalties to the Planters' Co. would exceed $5,000,000 per annum. If a considerable portion of the presses were sold, say on a basis of three years royalties, the immediate cash payments would be larger, although the annual return would be smaller. In the latter case, however, there woula be a continued profit in the sale of repair parts and improved presses. Furthermore, if the new Lowry gin is a success, these attachments on the Lowry presses should cause an immediate increase in the sale of presses as well as a very large profit on the sale of gins. The above does not take into account the large prospective hay business and the baling of other fibrous materials. The Planters' Compress Co. ha * recently been awarded a spiral bale patent, after two years of opposition in* the and $200,540/00 This provides for a canal suitable for navigation by the largest t-hips now in existence and for a double system of locks, so that navigation can be maintained if one system be closed for repairs or renewals. If a single lockage system is provided the cost will be reduced $19 678 000. Narrowing the bottom one-thiid will permit a further redaction of $16,This would bring the estimated cost down to 949,000. $163 913,000. The final conclusions of the Commission are stated in substance as follows patent office at Washington. This patent prohibits any other party 1. The estimated cost of building the Nicaragua Canal is about $58.from making spiral bales.—V. 71, p. 1070. 000.000 more than that of completing the Panama Canal, leaving out the cost of acquiring the latter property. This measures the differRacine (Wis.) Water Co.— Not Extended. The water comence in the magnitude of the obstacles to be overcome in the actual failed to report in favor of the construction of the two caDals. The new Panama Canal Co. has mittee of the City Council has shown no disposition to sell its property to the United States. Should proposed 40-year extension of the franchise. Many of the that company be able and willing to sell, there is reason to believe property owners, it is stated, are in favor of municipal works. that the price would not be suoh as would make the total cost to the Republic Iron & Steel Co. Amendment to By-Laws. United States less than that of the Nicaragua Canal. 2. The Panama Canal, after completion, would be shorter, have The amendment to the by-laws recently adopted fellows fewer locks, and less curvature than the Nicaragua Canal. The The corporation shall not mortgage any of its 'property, except by measure of these advantages is the time required for a vessel to pass purchase-money mortgage, without the assent, in person or by proxy, through, whioa is estimated for an average ship at 12 hours for Pan- of the holders of a majority of each class of its stock such assent to ama and 33 hours for Nicaragua. On the other hand, the distance be either in writing or by vote at any meeting called in accordance from San Francisco New York miles, Orleans, 579 1 : — — : ; to miles, agua. is 377 to New and to Liverpool 386 miles greater via Panama than via NicarThe time required to pass over these distances beiDg greater than the difference in the time of transit through the canals, the Nicaragua line, alter completion, would be somewhat the more advantageous of the two to the United States, notwithstanding the greater cost of maintaining the loDger canal. 3. The Government of Colombia, in which lies the Panama Canal, has granted an exclusive concession, which has many years to run. It is not free to grant the necessary rights to the United States, except upon condition that an agreement be reached with the new Panama Canal Co. The Commission believes that such agreement is impracticable. So far a,s can be ascertained, the company is not willing to eell its franchase, but it will allow the United States to become the owner of part of its stock. The Commission considers such an ar- rangement inadmissible. The governments of Nicaragua and Costa Rica, on the other hand, are un trammeled by concessions, and are free to grant to the United States such privileges as may be mutually agreed upon. In view of all the facts, and particularly in view of all the difficulties of obtaining the necessary rights, privileges, and franchises on the Panama route, and assuming that Nicaragua and Costa Bioa recognize the value of the canal to themselves and are prepared to grant concessions on terms which are reasonable and acceptable to the United States, the Commission is of the opinion that " the most practicable and feasible route for" an Isthmian canal to be "under the control, management, and ownership of the United States" is that known as the Nicaragua route. The Panama concession, now held by the French company, prohibits a cession of rights to any nation or foreign government, and the concession is limited, so that if the United States acquired it there would not be an absolute ownership in perpetuity, as the concession provides that the canal shall pass to Colombia after ninety-nine years. -V. 70, p. 1151. Occidental Development Co. of Boston Colorado Coal Business. This company, owning coal lands near Laveta, Colo., it is stated, is planning to carry on a coal business in competition with the Colorado Fael Iron Co. — & Panama Canal.— See Nicaragua Canal above.—V. 70, p. 897. People's Gag Light & Coke Co. of Chicago.— Taxes.— " The inPresident C. K. G. Billings is quoted as saying crease in the amount of tax on the company under the adjustment by the Board of Equalization will be from $28,000 to $30,000, according to the rate, which is not yet exactly fixed. Our assessment is increased $150,009. The Union Traction Company was increased $600,000, the Southside Cable was it creased $760,000, Pullman Company was increased $400,000 and the Edison Company $325,000. We paid taxes of $193,000 last year and we paid the city $375,000 on our gross earnings. This made a total of $468,000. Tne amount we will have to pay this year will be about $196,000, a difference of $28,000, or not enough to be at all significant." : —V. 71, p. 1123, 1015. Pittsburg Co.— Called Bonds.— Five first mortgage and collateral trust bonds, dated July 1, 1899, numbered 9, 15, 49, 98 and 232 have been drawn for the sinking fund and will be paid on presentation at the Guaranty Trust Company of York, at par and accrued interest, on and after Jan 1, 1901, after which interest on said bonds will cease. V. 68, p. 928. New — Planters' Compress Co.—New Stock.— The 50,000 shares of new stock recently offered at $32 per share, it is stated, has been over-subscribed, the terms of subscription being $5 50 per share on allotment and the balance on Jan. 15, 1901, when the new stock will be ready for delivery. Payments may be made at the Old Colony Trust Co., Boston, or the Manhattan Trust Co., New York. The proceeds of the new stock will enable the company to retire the $500,000 six per cent notes| due Feb. 1, 1901, at or before maturity, without availing itself of the privilege of renewal, and leave it free of all debt, with over $500,000 in bank, in addition to other quick assets, consisting of over 400 presses, bags, ties, hay and other raw material, etc. At the same time a clear title - with the bylaws. The by-laws, etc., were cited in V. 69, p. 850. Resignation.— Col. George D. Wick has resigned as VicePresident and with others has organized the Youneistown Iron, Steel & Tube Co., which see below. Treasurer John F. Taylor will hereafter act both as Treasurer and as one of the Vice-Presidents.— V. 71, p. 1124, 559. Riker Electric Yehicle Co. Change of Control. See Electric Vehicle Co. above.— V. 68, p. 1227. — — Rogers Locomotive Works. Closed. The works were by Mr. Rogers on Nov. 30.— V. 71, p. 1124, 438. Standard Harrow Co. Reduction of Stock. The capital, is stated, has been reduced from $2,000,000 to $400,000, all finally closed — it common. The company was organized hereafter to be in 1893 without bonds, but with $1,000,000 of common stock and $1,000,000 of 8 per cent cumulative preferred stock, $900,000 of the latter being offered at par by Chrystie & Janney and others. The company was formed to acquire the property of twenty-one companies and firms, whose aggregate output, it was claimed, was 85 per cent of the entire product of spring tooth harrows in the United States; their total annual net profit was stated as $193,948. Last year, it is said, the net profits were $35,000. Suburban Electric Co. of Covington, Ky.— Municipal Plant.— See "Covington" in State and City Department of to-day's Chronicle.— V. 71, p. 1124, 1023. Temple Iron Co.— Further Data.— A circular issued by Montgomery, Rollins & Co. of Boston and Edmund T. Moulton of Providence furnishes the following additional information The company has a very valuable oharter, which permits it not only : manufacture iron and steel but to develop the material interests of Pennsylvania, coal mining etc. It was the expectation that other coal oompanles might be purchased and possibly the manufacture of steel and iron extensively undertaken in the interest of the railways, and therefore the charter permitted a total issue of $5,000,000 in stock and $15,000,000 in bonds, of which $2,500,000 of the former and $3,500,000 of the latter have been issued. It is not probable that further issues will be made in the near future. The mines are located at Scranton, Pa., and are old properties of well determined value and with lar^e earning capacity. It is not supposed that in the long run the railroad companies will be called upon for the payment of much, if any, money on aocount of their guaranties, as with the large product from the mines the net earnings should be sufficient for the payment of interest upon the bonds and stock, besides the very liberal sinking fund for the reJemption of principal of the bonds. OfHoers.— President. Thomas H. Watklns, Scranton, Pa.; Vice-Presito dent, George F. Baer (Vice-President Beading Co.). Directors (together with the above).— J. Rogers Maxwell. President Central RR. of New Jersey; E. B. Thomas, President Erie RR. Co. and Western BR.; J. H. Harris, President of the N. Y. Susquehanna Reading Co.; Alfred Walter, President Lehigh Valley RR. Co Wm. H. Western RR. Co.; Truesdale, President Delaware Lackawanna & ; & & Co., New York City. The Temple Iron Co. has an old and valuable charter, and on that account was purchased for $300,000 by the railroad Charles Steele, J. P. Morgan companies above-named to own the valuable coal properties bought by them in 1898 from Simpson & Watkins of Scranton, Pa. The stock of the Temple Iron Co. is held in a voting trust by the Guaranty Trust Co., which issues certificates of beneficial interest against thp same. Telephone Telegraph & —V. 71, p. 1124: Cable Co.— Assessment. —The directors have called for an instalment of $5 a share, payable on or before Dec. 31. This will make the $50 shares $15 paid. The object is to safeguard the interests of the stockholders in case the plans for a readjustment of the stock should be delayed beyond the time contemplated. p. 557. Br For other IiTeitment News see Page -V. 71, ____^__ 1 1 To. — : Decembbr — THE CHRONICLE. 8, 1900.1 tpoxis 1171 and ^otummis. REPORT OF THE SECRETARY OF THE TREASURY, ANNUAL REPORT ON THE FINANCES. We FISCAL YEAR give below extended extracts from the report j Lyman Mr. of J. Gage, the Secretary of the United States Treasury: Treasury Department, Washington, D. C, Dec. 5, 1900. Sir — I have the honor to submit the ) \ 1 The expenditures 1899. 900. $273,437,161 51 206,128,48175 6,164,256 24 Tax on sealskins and rent of seal islands Sales of Indian lands Sales of Government property Sales of publio lands Distriot of Columbia Navy pension, navy hospital, clothing and deposit funds Fees— consular, letters patent and 225,676 47 1,384,663 49 779,522 78 2,836,882 98 4,088,722 77 1,116,91134 1,476.175 00 828,^84 74 1,678,246 81 4,016,531 57 1,621,558 52 1,343,563 88 3,291,716 68 land Depredations on publio lands. 2,805,435 35 157,671 50 07 58 675,706 95 537,404 81 273,247 19 :, 7f,' Customs Immigrant fund fees, fines, penalties, etc... Deposits for surveying publio lands. Sinking fund for Pacific railways... Payment of interest by Paciflo Rys. Sales of lands and buildings Tax on national banks Soldiers' Home, permanent fund 1,173.466 3,842,737 1,998,554 247,926 1,364,405 257,265 ... Miscellaneous Sales of ordnance material Dividend paid by receivers of Union Pao. RR. for account of Kan. Pao. Part payment of Central Paciflo RR. 668,072 393,439 128,238 274,887 441,246 32,756 43 68 00 62 Total 2i 70 37 70 10 821,897 70 3,338,016 49 102,354,579 29 Indebtedness Postal service 09 1,912,411 2=> 87.838 23 988,058 28 82,338 42 18 56 11.798,314 14 95.021.3S4 17 $669,595,43118 $610,982,004 35 The expenditures for same period were: the For the civil establishment, Including foreign intercourse, public buildings, oolleotingthe revenues, Distriot of Columbia and other miscellaneous expenses $98,542,41137 For the military establishment, including rivers and harbors, forts, arsenals, seaooast defenses and expenses of the war with Spain and in the Philippines 134,774,767 78 For the naval establishment, including construction of new vessels, machinery, armament, equip- $90,979,685 82 sur.$79, 527,060 18 df.$89,lll,559 67 In addition to the revenues collected during the year and the amounts received on the indebtedness of Pacific railroads, the cash in the Treasury was increased by the following sums: From subscriptions to the 3 per cent tentwenty bonds issued under authority of the Act of June 13, 1898, for the Spanish war expenditures, $113,920, and from the issue of 4. per cent bonds in liquidation of interest accrued on refunding certificates converted during the year, $1,490, making a total of $115,410. Securities redeemed on account of the sinking fund were: Fraotional currenoy Bounty land scrip Compound interest notes One-year notes of 1863 Two-year notes of 1863 Loan of July and August, 1861 Loan Loan of lt-04 ... of 1908-1918 at 2 per cent „ ... $14,310,350 00 4,990,300 00 FISCAL YEAR 1902. It is estimated that upon the basis of existing laws the revenues of the Government for the fiscal year 1902 will be: From customs.. $255,000,000 00 From internal revenue 310,000,000 00 From miscellaneous sources 35,000,000 00 From Postal Service 116,633,012 00 Total estimated revenues $716,633,012 00 of appropriations required for the same period, as submitted by the several Executive Departments and offices, are as follows: Legislative establishment $4,756,004 43 Executive establishment Exeouiive proper $283,400 00 177,510 00 State Department Treasury Department 9,977,757 00 War Department 2,313,336 00 Navy Department 570,818 00 Interior Department 5,105,^64 00 1,061,5-0 00 Post-Oflioe Department 4,469,050 00 Department of Agriculture 230,550 i;0 Department of Justice Department of Labor 177,980 00 24,367,235 00 Judicial establishment 745,320 00 Foreign intercourse 1,897,633 76 Military establishment 113,568,319 39 Naval establishment. 70,869,070 76 Indian affairs 9,250,571 09 Pensions 145,245,230 00 The estimates Treasury Department War Department Navy Department 1,309,500 9.670,^75 51,171,516 16,303,360 738,800 200,000 304,000 00 98 36 < 00 00 00 79,697,852 34 Miscellaneous4,891,196 02 Legislative Treasury Department 15,(584,279 51 War Department 5,194,174 6,87W,840 5,622,800 9,080,703 Department Department of Justice Districtof Columbia Interior 00 00 00 94 47,351,993 47 Postal Service, including $1,634,307 deficiency in postal revenues 121,267,849 00 Permanent annual appropriationsInterest on the public debt 81,000,000 00 Refunding— customs, internal revenue, etc Collecting revenue from customs Miscellaneous 7,7PO,000 00 5,500,000 00 27,078,220 00 71,358,220 00 Total estimated appropriations, exclusive of sink690,374,804 24 ing fund Or an estimated surplus of 26,258,237 76 vaults. $1,824,569 40 548,933 00 $22,071,956 35 4,736,486 72 3,963,109 34 30,773,552 41 Total. $80,000,000 00 of OPERATIONS OF THE TREASURY. The Treasurer calls attention to the marked irregularity 100 00 in the receipts and expenditures, pointing out that while 1,710 00 220 00 in July, 1899, there was a deficiency of $8,506,832 28, in 100 00 June, 1900, a surplus of $17,895,158 86 was realized. The 500 00 greatest difference between income and outgo on any one 750 00 300 00 day was $4,047,396 05 in favor of the Treasury. The corre36,600 00 sponding maximum deficiency was $2, 31 8,621 42. In the 3,384,650 0f> face of such wide fluctuations the necessity for ample 669,503 00 available reserves is apparent, and the Treasurer names $50,000,000 as a proper sum to keep in the Government 2,373,502 40 Premium on bonds exchanged— Funded loan of 1907 $607,773,253 92 $2,418 25 19,300,650 00 Premium on bonds purchased— Funded loan of 1907 Loan of 1904..... Total estimated expenditures Department Department of Agrioulture Department of Justice $700,093,564 02 Bonds purchased— Funded loan of 1907 Loan of 1904 $115,000,000 00 140,000,000 00 60,000,000 00 11,000,000 00 142,000,000 00 32,000.000 00 107,773,253 92 For the military establishment For the naval establishment Forthe Indian Service For pensions For interest on the publio debt For Postal Servioe Interior $590,068,371 00 Seven-thirties of 1864 and 1865 Funded loan of 1881, called Funded loan of 1x91, called Funded loan of 1891, continued National bank notes $687,773,253 92 follows For the civil establishment Or a surplus 00 00 00 92 same period are estimated as Legislative 229,841,254 47 63,942,104 25 20,000,000 00 12,805,711 14 139,394,929 07 39,89 1, 925 02 8,211,570 08 95,021,384 17 Surplus or deficit $245,000,000 300,000,000 3S,000,000 107,773,253 Publio works ment, improvements at navy yards and expenses of the war with Spain and in the Philippir es. 55,953,077 72 For treaty obligations with Spain.. For Indian servue 10,175,106 76 For pensions 140,877,316 02 For interest on the publio debt 40,1 60,33 3 27 For deficiency in postal revenues .. 7,230,778 79 For Postal Servioe 102,354,579 29 Total expenditures : Total estimated revenues for the following report: $295,327,926 76 Customs 233,164,871 16 Profits on ooinage.bul'n deposits.etc 9,992,374 09 of the From customs From internal revenue From miscellaneous sources From Postal Service RECEIPTS AND EXPENDITURES. The revenues of the Government from all sources (by warrants) for fiscal years ended June 30, 190. and 1899, were: Source. Internal re-venue year are 1901. Government for the current fiscal thus estimated upon the basis of existing laws The revenues $56,544,556 06 Promptly on the passage of the Act of March 14, 1900, there were transferred to the divisions of issue and redemption the records and accounts relating to the issue and redemption of the Government notes and certificates. Up to October 1 the total redemptions in gold from the new reserve fund of $150,000,000 were $22,530,854 in United States notes and $3,594,708 in Treasury notes. The sums drawn from the reserve have been daily restored from the gold in the general fund. Exclusive of that reserve, the assets and 1172 THE CHRONICLE. liabilities of the new divisions were $723,062,283 on the day of their creation, $723,544,179 on June 30 and $740,965,679 on November 1. Comparison of the state of the Treasury shows an increase of $24,887,093 39 in the available cash balance, exclusive of the reserve of $150,000,000 for the year. The cash fV0L. LXXL versions; 123, with capital of $5,605,000, reorganizations of State and private banks, and 163, with capital of $7,310,000, primary organizations. Two hundred and forty- nine of the banks organized since March 14 were with capital of than $50,000, the great majority being with the mininamely, $25,000, the aggregate capactually in the vaults of the Treasury, as distinguished ital being $6,575,000, and 99 with capital of $50,000 or over, from the deposits in banks and other assets not consisting the aggregate capital for this class being $10,900,000. Bonds of money, increased by $6,621,398 14. The most notable in- deposited by both classes amount in the aggregate to crease was in the smaller denominations of paper currency, $5,348,200, only about 30 per cent of the maximum which which are in demand for moving the crops. Of these, the might be deposited. The provision which authorizes the organization of naTreasury held $14,062,172 more than last year. The excess of assets over current liabilities was on June 30 $49,723,- tional banks with a minimum capital of $25,000 in places not exceeding 3,000 in population, while formerly the minimum 017 60 in 1899 and $5'>,327,501 76 in 1900. As the resources of the Treasury became greater than was fixed by law at $50,000 for capital in places not exceedits immediate needs, a series of measures was adopted for ing 6,000 inhabitants, has enabled many of the remoter secrestoring the surplus to the uses of business. After Septem- tions and smaller communities to secure necessary banking ber 18, 1899, interest due October 1 was paid in advance of facilities. This provision has been widely appreciated. maturity to the amount of $3,208,027. From October 10, in Particular reference is made to the organizations in Texas, like manner, anticipation was made of $916,038 61, due Oklahoma, Indian Territory, Iowa and other Middle and November 1, and after December 15, of $3,398,504 50, due Western sections. * * January 1. An offer made on October 10 to prepay all interest accruing to July 1, 1900, at a rebate of two-tenths of The amount of outstanding circulation, by denominaone per cent per month, was accepted to the amount of tions, on March 13, the day the passage On Financial Act, and on October prior to was as followsof the $2,229,191 35, on which the rebate was $21,101 78. 31, 1900, November 15 a proposal was made to purchase $25,000,000 March 13. October 31Denominations. of the 4 and 5 per cent bonds due in 1904 and 1907 at a $348,275 Ones $347,552 fixed price. This was responded to by offers to the amount Twos 167,466 167,056 of $19,300,650 of principal, on which the premium was Fi<es 79,310,710 70,363,595 79,378,160 123,088,280 $2,373,502 40. Notice was given May 18, 1900, for the pay- Tens 58,770,6fO 88,408,100 ment of the $25,364,500 outstanding 2 per cent bonds, re- Twenties 16,186,900 11,784,150 Fifties deemable at the option of the Government, and by Novem- One hundreds 24,103,400 32,889,200 102,500 104,000 ber 1 all but $2,255,000 of them were retired. The con- Five hundreds 27,000 27,000 version of threes, fours and fives into the new 2 per cent One thousands 33,085 32,409 Unredeemed fractions consols of 1930, provided for by the Act of March 14, 1900, less mum amount required, ***** : amounted by June 30 to $307,125,350 of principal, and by $331,613,268 $254,026,230 Total November 1 to $345,530,750. To the latter date payment From the foregoing statement it appears that there has for excess of value was made out of the Treasury for been a growth in national bank note circulation from $34,338,342 44, and the net saving to the Government was March 14 to October 31 of $77,587,038. This increase is $8,685,618. probably no more than sufficient to keep pace with expandIn the year ended September 30, 1900, notes and certifiing trade. Under existing law national banks are entitled cates of the value of $523,192,000 were impressed with the to take out circulation to the full amount of their capital, seal of the Department and prepared for issue, as against which on October 31 was $632,502,395. There is no likeli$362,412,000 in the twelve months preceding. A largely inhood that this privilege will be availed of to the fullest excreased share of the new currency was of the denominatent. The antecedent requirement for the purchase and tions of $20 and under. The redemptions of worn paper through advance in money in the same periods were $303,219,824 in 1900 and deposit of United States bonds acts price under increased demand to check automatically un$255,027,980 in 1699. of note issues. It may be here noted that The authority to increase the issue of subsidiary silver due expansion cent bonds at the present market price the with the 2 per coin to $100,000,000, which was granted by the Act of March net advantage to a bank in taking out circulation is one and 14, 1900, has been a convenience both to the Treasury and five-hundredths of one per cent per annum, as figured by to the people. The Department, through the Mint, has been the actuary in this Department. The advantages to banks enabled to supply all demands for them, and their circulain taking circulation under the law, based upon other bond tion increased by October 1, 1900, to $79,432,193. issues, are found to be as follows: ****»** On 5 per cent bonds of 1904, a loss of substantially oneNATIONAL BANK CHANGES UNDER THE FINANCIAL half of one per cent. ACT OF 1900. On 4-per cent bonds of 1907 a profit of substantially The financial Act approved March 14, 1900, contained the twelve hundredths of one per cent. following changes in the provisions of the National Eank On 3-per-cent bonds of 1908 a profit of about three tenths Act: National banking associations which heretofore bad been entitled to receive circulating notes from the Comptroller of the Currency to an amount not exceeding 90 per cent of the bonds deposited are entitled by this Act to receive circulation to an amount equaling the deposit of bonds, not ex ceeding in the aggregate, however, the capital stock actually paid in. It is also provided that no national banking association shall be entitled to receive from the Comptroller of the Currency, or to issue or re- issue or place in of one per cent. On 4-per-cent bonds of 1925 a profit of about fifteen hundredths of one per cent. These figures show clearly enough that our currency system, under which the volume of circulating medium is more responsive to the market price of G ivetnment bonds than to the requirements of trade and industry, is not yet satisfactory. circulation, more than one-third in amount of its circulating notes of the denomination of $5. The semi-annual duty on national bank circulation is reduced from one-half to onefourth of 1 per cent where secured by 2 per cent consols of 1930. Circulation secured by other classes of bonds is still subject to the semi annual duty of one-half of 1 per cent. The Act repeals so much of the Act of July 12, 1882, as pro hibits any national bank which makes a deposit of lawful money in order to withdraw its circulating notes from receiving an increase of its circulation for the period of six months from the time it made such deposit of lawful money for that purpose. Provision is also made for the incorporation of national banks, by sanction of the Secretary of the Treasury, with capital of not less than $25,000 in any place the population of which does not exceed 3,000 inhabitants. Since the new law went into effect, and covering the period from March 14 to October 31, 1900, the Comptroller of the Currency has approved 509 applications to organize national banks, of which 382 were for banks with capital of less than $50,000 and 127 with capital of $50,000 or more. Eighty of the applications were from State banks proposed to be converted under the provisions of section 5154 of the Revised Statutes; 173 from State or private banks proposed to liquidate for the purpose of reorganization under the na tional banking law, and 256 from those contemplating primary organizations. Since October 31, 1899, 383 bank?, with an authorized capital of $20,025,000, have been chartered, of which 348 completed their organizations between March 14 and October 31, 1900, Sixty-two of the banks organized since March 14, with capital aggregating $4,560,000, were con- receipts from the several objects of taxation under the internal revenue laws for the fiscal years ended June 30, 1899 and 1900, were as follows: ******* INTERNAL REVENUE. The Receipts fbom Internal Revenue, 1899 and 1900. -Fiscal Year ended June 30- HOO. 1899. $ Objects of taxation— $ 99,283,534 16 109,868.817 18 Distilled spirits Inc. or Dec. $ I. 10,585,283 02 6,861,876 63 18,098 42 7,840 62 59.3^5,084 27 73,S50,'»54 49 2,543,785 18 17.0S4 48 7,439 46 21 4,515,640 85 D. 405,952 36 25 «6 2,884,491 55 40,964,365 30 1,460 50 I. 1,649,056 30 D. 2,873,453 36 /. 1,460 50 47 1,607,204 31 Manufactured tobaoco52,493,207 64 68,644,558 45 Fermented liquors 1,956,618 56 Oleomargarine Filled cheese Mixed flour Special taxes not else- where enumerated.. 4,921,593 Legacies and distributive shares of per1,235,435 sonal property Schedules A and B.... 43,837,818 Banks, bankers, etc. Miscellaneous collec1,085,868 tions 273,484,573 44 295,316,107 57 Total I. I. 4>06.196 04 587.166 62 D. 1,033 94 I. D. 401 16 J. 521,335 84 7.21,831,534 13 receipts are those actually collected but in many cases the years mentioned on the last day of June is not deposited money collected until the first day of July, thus causing a discrepancy between the collections and deposits for the year. The total cost of collection for the fiscal year ended June The amounts given as during the fiscal ; $4,653,687 74 and $4,591,754 90 in 189i>, showing for the fiscal year ended June 30, 1900, of $61.an increase 932 84. The percentage cost of collection for the fiscal year ended June 30, 1900, was 1*58 per cent, as against 1'68 per cent in 1899. 30, 1900, was Thi , : December 8, THE CHRONICLE. 1900.] The total production ot distilled spirits, exclusive of fruit brandies, for the fiscal year ended June 30, 1900, was 105,484.699 taxable gallons, against 97,064,565 taxable gallons in 1899, showing an increase in production for the fiscal year just ended of 8.420,134 gallons. There were also produced 608,948 gallons of apple brandy, 7,688 gallons of peach brandy, 3,141,800 gallons of grape brandy, 41 gallons of berry brandy and 2,010 gallons of prune brandy, making a total production of 3,760,487 gallons from fruits during the year. For the fiscal year ended June 30, 1900, there was an aggregate increase of 662,718 gallons produced from fruits as compared with the previous fiscal year. The quantity of distilled spirits gauged during the fiscal year was 351,425,388 gallons, against 318,503,686 gallons in 1899, making an increase for the year just ended of 32,921,702 gallons. During the fiscal year ended June 30, 1900, 3,613 distilleries of all kinds were operated. For the preceding fiscal year 3,922 distilleries of all kinds were operated, a decrease of 309 for the year just ended. During the fiscal year ended June 30, 1900, there were produced 39,471,593 barrels of beer. The number of barrels produced during the 36,697,634, fiscal year ended June making an increased production 1899, was for the year 30, just ended of 2,773,959 barrels. For the fiscal year ended June 30, 1900, the total receipts from the taxes on tobacco, cigars, cigarettes, snuff, etc., were $59,355,n84 27. The receipts from the same sources in 1899 were $52,493,207 64, showing an increase of 5,861,876 63 for the year ended June 30, 1900. OUR MERCHANT MARINE. The report of the Commissioner of Navigation shows that on June 30, 1900, the merchant marine of the United States, including all kinds of documented shipping, comprised 23,333 vessels of 5,164,839 gross tons. The following table shows tbe geographical distribution, motive power and material of construction, and trade of vessels of the United States for the fiscal year 1900, compared with the fiscal year 1899, and also the construction for the two years: Vessels of the United States. 1899. 1900. No, Gross Tons. No Gross Tons. 16,275 2,614,869 16,532 2,727,892 1,970 539,937 2,203 601,212 14 11,692 3,162 1,446,348 3,167 1,565.587 1,321 263,084 1,417 258,456 . Geographical Distribution— Atlantic and Gulf coasts Paoiflc coasts Hawaiian Islands Northern lakes Western rivers Total . 22,728 4,864,233 15,771 Power and Material— 2,214,540 16,139 2,290.196 173,687 141 216,846 23,333 5,164,839 Sail: (a) Wood Iron and steel 120 Total 15,891 2,388,227 16,280 2,507,042 5,824 1,013 1,274,056 1,201,955 5,969 1,084 1.281,812 1,375,985 Total Canal boats 6,837 7,053 Barges 1.962 2,476,011 71,101 491,808 2,362 2,657,797 73,383 548.817 2,591 562,909 3,009 288,813 71,217 488,216 124 214 992 1,331 848,246 1,330 and in value and efficiency has never been equaled. Marine construction now in progress or under contract promises a greater addition to our merchant fleet for the current fiscal year than last year, and if the present rate is maintained the new tonnage will exceed that ever built in the United States, except in 1854 and 1855. American shipping in the coasting or domestic trade must be distinguished from American shipping in the foreign trade. The former trade is restricted solely to American vessels; the latter trade is necessarily open to tbe competition of foreign vessels. Growth in the former is a matter of internal development, measured by domestic standards. Growth in the latter is our part in the world's maritime deThe velopment, measured by international standards. growth of American shipping, to which the facts just stated testify, has been wholly wit bin the coasting trade. In that trade our tonnage has risen from 2,897,185 gross tons in 1861 years, to 4,338,145 gross tons in 1900, and two-thirds of the increase has been upon the Great Lakes. Where foreign competition enters, our registered tonnage has decreased from 2,642,628 gross tons in 1861 to 826,694'gross tons in 1900, and is less than at any time in the past sixty years except during our short war with Spain. For the past three years American ships have carried annually only 9 per cent of our exports and imports, the smallest percentage in our history. The new century confronts us with the fact that the American merchant marine in foreign trade is relatively insignificant. It is exceeded in effective tonnage by the steamships of any one of several foreign corporations. To some Americans this may be neither cause for regret nor stimulus to action; but the opinion expressed in this report last year is reiterated: Our national greatness cannot be fully rounded out while we are so dependent as at present on foreien shipping for our intercourse with the rest of mankind At this time politioal and commercial considerations demand of us a larger measure of strength and independence on the seas than ever in our history; yet never before have we been relatively so weak in transoceanic navigation. The conditions for a successful effort to secure again a proper share of the carrying trade and to re-establish our commercial flag upon the oceans have not in a generation been so favorable as at this time. Our heavy, continuous expenditures for the Navy have created shipbuilding plants adapted to the largest mercantile construction. Our surpassing production of coal and steel insures cheaper materials than can be obtained elsewhere, and abundance of capital, the product of labor's prosperity during the past few years, awaits new enterprises. Coupled with these advantages at home, temporary causes have increased the cost of shipbuilding abroad. TUese flattering considerations must not blind us to our backwardness. shall build, even in this year of great activity in our shipyards, less than onetentb the shipping for foreign trade to be built by our principal competitor. do not carry 3 per cent of the world's We 622,200 135 232 964 1173 Steam: Wood Iron and steel 629 Total Trade— 647 Enrolled: Steam, iron and Steam, wood Sail (6), steel ... wood & iron, and steel Total Enrolled and licensed: Steam, iron and steel Sail (a), 913,142 wood & iron, and steel.14,927 1,202,839 1,900,011 5,755 15,288 1.211,848 2,021,6b0 21,397 4,015,992 22,003 4,338,145 631 306 122 214 154,586 41,534 80,? 66 23,552 804 303 125 215 207,652 41.354 130,611 14,173 1,273 300,038 1,447 393,790 413 7 72,835 25,538 494 10 87,557 28,903 359 80 48,040 103,018 1,411 342 80 38 34,580 167,948 4,492 483 70,310 1,447 393,790 • 960 1,104,607 CONSTRUCTION DURING THE TEAR. Geographical Distribution— Atlantic and Gulf coasts Paoiflo coast Northern lakes Western rivers Total Power and Material— Sail: Wood Steel Steam The effort, to be successful, must be begun promptly and unremittingly prosecuted for a series of years, and is entitled to the co-operation of Congress. A bill for the promotion of American commerce and for the creation of an , ******* 826,694 878 Total traffic. American merchant marine in foreign trade, which shall be worthy of the nation now awaits the action of both branches of Congress. It conforms in principle and general outlines 271.378 to recommendations upon the subject in the reports for 69,964 1898 and 1899. Ealy conrsideration of that measure is 485,352 recommended. 5,592 Steam, wood We sea-borne Pursuant to the Act of April 30, 1900, before the close of year 13 Hawaiian vessels of 15,630 gross tons were documented as vessels of the United States. The remaining Hawaiian vessels entitled by that Act to registry will probably be brought under the American flag before the close of the current year. By the Acts of April 12 and April 30, 1900, trade between the United States and the islands of Porto Rico and Hawaii became subject to the coasting laws and has been restricted the to fiscal American vessels. The change was effected without any material inconvenience to the commerce concerned, and has already led to the construction of steamships for those special trades, which will give those islands better facilities for commerce than they have ever before enjoyed. : Wood Iron and steel Canal boats Barges Wood Steel Total , 13 397 4 46,673 1,273 300,038 • 2,823 a Including canal boats and barges. 6 Including barges. At the end of the past fiscal year the merchant shipping of the United States in carrying power and in value of materials and amount of wages involved in its construction was unsurpassed in ouv history. The total tonnage, 5,164,839 gross tons, was greater than for any year since 1861, when American tonnage reached its maximum to that time, 5,539,813 gross tons. As our statistics then included many vessels not now required by law to be enrolled, it appears that even in tonnage American merchant shipping is now greater than at any time in the past. The tonnage built during the year, 393,790 gross tons, has been exceeded in amount by our annual output only six REFUNDING THE PUBLIC DEBT. The Act of March 14, 1900, contained a provision for the refunding of certain outstanding bonds, bearing interest at 3 per cent, 4 per cent and 5 per cent, into 2 per cent thirtyyear bonds, payable, principal and interest, in United States gold coin of the present standard value. This provision is contained in section 11 of said Act. In pursuance of this section, a circular was published March 14. 1900, calling the attention of the owners of United States "registered and coupon bonds of the above loans to the provisions of the law and setting forth the terms upon which said exchanges might be made, namely, the outstanding bonds to be surrendered at a valuation equal to their present worth, to yield an income of 2% per cent per annum, the 2 per cent bonds to be issued at par in amounts equal to the par value of the bonds surrendered, and the sumj representing the difference between the present worth of the surrendered bonds and their par value to be paid to the owners of the bonds by the Treasury of the United THE CHRONICLE. 1174 States. The new bonds were dated April 1, 1900, eluding paragraph of the circular was as follows: [Vol. LX2I, The con- the public service which cannot be anticipated may require expenditures not contemplated. Congressional appropriations, extraordinary in charater, or failures to realize fully estimated revenues, are also influences which may operate seriously to derange all advance calculations. conservative margin should therefore be reserved in forecasting definite results based on hypothetical calcula- In exercise of the discretion given to the Secretary of the Treasury under section 11 of the Act, he reserves the right to suspend the exchange of honds above contemplated, whenever, in his opinion, the interests or the Government may he best served thereby. The Secretary of the Treasury also reserves the right to change the terms of A exchange above set forth, either by requiring a bonus or premium upon the two per cent bonds or by requiring the holders of bonds out- tions. standing to surrender the same io. exchange for the new bonds at a An annual excess in receipts over expenditures is the rate to yield Income of more than two and one-quarter per cent per best indorsement of the national credit, while a deficit is a annum. The surrender of the outstanding bonds began immedi- depressing factor in public finance. It has been our wise ately upon the publication of the circular. At first the policy in the past to reduce the public debt in time of exchanges were principally of bonds held by the Treasurer peace, and to this good policy may be attributed, to a high of the United States to secure the circulating notes of degree, the low rates of interest, hitherto unprecedented, national banks and public deposits in national bank de- which now attach to our Government debt obligations. It positaries, but the surrender of bonds held by others than is true that for a period of six years from 1894 to 1899, inclusive, annual deficits appeared; but it may be hoped that national banking institutions was by no means insig this was a temporary interruption to a history of twentynificant. * * * Up to and including November 15, 1900, there were re- eight years, when each year showed annual expenditures ceived for exchange $352,083,450 of the three classes of bonds less than annual revenues. The operation of the Act of February 25, 1882, providing in question, and an equal amount of the 2 per cent thirtyyear bonds issued in their place. The saving in interest, the for a sinking fund, contemplates the payment or purchase premium paid and the net saving resulting from refunding and cancellation of substantially $50,000,000 annually of operations up to and including November 15, 1900, are set our interest-bearing debt obligations. Owing to the unfavorable conditions in the Treasury during the six years just forth in the following table: referred to, the sinking fund was entirely neglected. Net Amount Saving Premium In the absence of any expres-ion to the contrary, it may saving. Class of bonds. refunded. in interest. paid. Loan of 1903-1918 be safely assumed that it is the desire of Congress to observe (3 per cent) $79,78 3,900 $6,590,070 $4,499,055 $2,091,015 faithfully the general requirements of the sinking-fund Act, Pund'd loan of 1907 (4 per cent) 212,221,900 30,458,364 24,545,744 5,912,620 and to provide revenue sufficient to meet the charges thus Loan of 1904 (5 imposed upon the Government. The present and prospectper cent) 60,077,650 6,701,624 5,877,207 824,417 ive easy condition of the Treasury justifies the belief that Total ..$352,083,450 $43,750,058 $34,922,006 $8,828,052 the sinking fund requirement can be met, both for the current fiscal year and for the next fiscal year, and still permit Note.— The "saving in interest" is computed upon average dates of a moderate reduction in taxes imposed by tbe war-revenue redemption, and may differ slightly from the actual saving. Act. A reduction to the amount of $30,000,000 is therefore For a better understanding of the above tabulation, it recommended to the consideration of the present Congress. may be well to explain that by the payment of $34,922,006, THE MONEY STANDARD AND THE CURRENCY. future payments of interest, which would have amounted to $43,750,058, have been anticipated, with a net and final savThe operation of the Act of March 14, last, with respect to ing of the difference, $8,82*.052. these two important matters of our finance has well exemAnother effect of the operation is to reduce the charge plified its wisdom. Confidence in the purpose and power of upon the Treasury for the payment of interest from the the Government to maintain the gold standard has been dates of refunding to February 1, 1904, by the sum of about greatly strengthened. The result is that gold flows toward seven million dollars annually. From February 1,1904, to the Treasury instead of away from it. At the date of this July 1, 1907, the annual interest charge will be reduced by report the free gold in the Treasury is larger in amount than the sum of about five millions, and for the thirteen months at any former period in our history. Including the $150,ending August 1, 1908, by about one million 000,000 reserve, the gold in the Treasury belonging to the Of the $352,083,450 bonds surrendered for exchange, if 244,- Government amounts to over $242,000,000, while the Treas046,150 were held by the Treasurer of the United S ates as ury holds besides more than $230,000,000, against which security for circulation or public deposits in national banks. certificates have been issued. That provision of the Act The remaining $108,037,300 bonds were surrendered by in- which liberalized the conditions of bank-note issue was also dividuals and institutions other than national banks, but a wise and timely. Under it, as previously shown in this report, considerable proportion of the 2 per cent bonds issued in there has been an increase of some $77,000,000 in bank-note their place were eventually sold to national banking inTo this fact may be chiefly attributed the freedom issues. stitutions, and are now lodged with the Treasurer of the from stress for currency to handle the large harvests of cotUnited States. The amount held November 15, 1900. as seton, wheat and corn. In this respect the year has been an curity for circulating notes of national banks was $272,779,exception to the general rule of si ringency which for several 100, and the amount held as security for public deposits in years has so plainly marked the autumn season. national bank depositaries was $52,565,350. Nevertheless, the measures referred to, prolific as they As a result, there were left outstanding on November 15, have been in good results, will yet need reinforcement in 1900, of bonds admitted to the privilege of refunding by the some important particulars. Thus, as to the redemption Act of March 14 the following fund provided for in said Act, while the powers conferred Of the 5 per cent loan of 1904 $34,932,050 upon the Secretary are probably ample to enable a zealous Of the 4 per cent loan of 1907 333,125,700 reserve, there Of the 3 per cent loan of 1908-18 119,008,740 and watchful officer to protect fully the gold appears to be lacking sufficient mandatory requirement to Total 487,066,490 furnish complete confidence in the continued parity, under On November 21 the Secretary gave public notice that re- all conditions, between our two forms of metallic money, silfunding would be indefinitely suspended at the close of ver and gold. Upon this point further legislation may bebusiness on December 3 1, 1900. The considerations which come desirable. induced this action may be briefly stated: As to the currency, while the liberalizing of conditions First. Nine months will have elapsed since the passage of has, as previously noted, found response in a necessary inthe Refunding Act. hus the holders of bonds will have had crease of bank-note issues, there is under our present system abundant opportunity to make the exchange authorized. no assurance whatever that the volume of bank currency Second. To leave the privilege open indefinitely is simply will be continuously responsive to the country's needs, either to give a continuing option to bondholders without any suf- by expanding as such needs require or by contracting when ficient consideration to the Treasury. superfluous in amount. The truth is that, safe aod desirable Third. It may be fairly assumed that with this privilege as is our currency system in many respects, it is not properly discontinued at the close of the year, refunding in the mean- related. The supply of currency is but remotely, if at all, time will be stimulated, and that the total refunding to influenced by the ever changing requirements of trade and that date will approximate $400,000,000. industry. It is related most largely, if not entirely, to the Fourth. The sinking-fund law contemplates the retire- price of Government bonds in the market. Between tbe ment of the interest-bearing public debt, either by payment needs of trade and commerce for a medium of exchange or purchase of substantially $50,000,000 per annum. |ii proper bank note and for instruments of credit, whi Fifth. The refunding of $400,000,000 will leave outstand- furnishes, and the investment price or value of Government ing and maturing within the next eight years, say, $439,- bonds, which is at present the most influential factor in de000,000, or an average of something more than $50,000,000 termining the currency supply, there is no discernible reper year. lation whatever. The Secretary believes that the suspension of the refunding I forbear at this time, in view of the many other improcess will put the maturing debt under better conditions portant subjects which demand attention during the pres(the Government's interest alone considered) either for pur- ent short session of Congress, to press these questions for chase from time to time or for payment when due. immediate action, but I cannot refrain from inviting the It will, of course, remain open for the Department to attention of Senators and Representatives to a careful resume refunding, should the interests of the Government considei'ation of the matters thus suggested. In the Act and the general conditions of finance make such a course of March 14 a forward step was taken, to the great benefit desirable. of all our material interests. Nothing should pi-event REDUCTION OF REVENUE. timely and well considered amendments where necessary to From the estimates of receipts and expenditures for the solidify and complete the work so well inaugurated. fiscal year 1902 there promises to be an excess of receipts to L. J. GAGE, the amount of $26,000,000. It is hardly necessary to point Secretary. out that estimates are at best approximate. Exigencies in To the Speaker of the House of Representatives. : i — — — December THE CHRONICLE. 1900.] 8, Texas & Pacific Coal Co. Increase of Stock.— The capital stock has been increased from $2,000,000 to $2,500,000 to provide for improvements and the purchase of other coal property. %\iz 1175 (&ommzxtml %imzs. COMMERCIAL EPITOME. Trion (Ga.) Manufacturing Co.— Bonds.—The company, Friday Night, Dec. 7, 1900. through the Mercantile Trust & Deposit Co. of Baltimore, The feature of the week has been the opening of the second has, it is said, arranged for the sale of $200,000 first mortsession of the Fifty sixth Congress. The leading business gage 5-year 6 per cent bonds, secured on the three mills measures thus far introduced have been the Ship Sabsidy bill owned, valued at $1,400,000. The proceeds are to pay for a and the Revenue Reduction bill, the latter providing for a new cotton mill recently completed at a cost of $500,000. reduction in revenues estimated at about $40,000,000. The Tripler Liquid Air Co.— Automobile.— The company's general business situation has undergone no radical changes liquid air automobile is described in the 'Scientific American" The approaching holiday serves to hold new operations in ' of Dec. 1. The vehicle, it is stated, carries 10 gallons of liquid air, costing 15 cents a gallon, and it is claimed can run continuously 50 miles.- V. 70, p. 1000. United Gas Improvement Co. of Philadelphia.— Bonds Offered.— See Westchester Lighting Co. below.— V. 71, p. 393. — United States Mining Co. On Boston Unlisted. The Boston Stock Exchange has admitted to the unlisted depart- ment the voting posited with Ricker. ^he 1903.—V. representing shares dethe trustees, Messrs. Evans, Winslow and voting trust, it is stated, expires in March, trust receipts, 71, p. 346. Westchester Lighting Co. Consolidation.— This new company on Dec. 1 increased its capital st ck from $2,500,000 to $12,500,000, of which $2,500,000 is preferred 5 per cent cumulative after Jan. 1, 1904; par value of shares, $100. controlling interest in the stock is owned by the United G-as Improvement Co. of Philadelphia. Directors. The directors and officers are Charles H. Werner. Louis B. Grant, Richard F. MoKinery, M. J. Warner, Charles M. Hemingway, N. D. Daboll, Henry A. Kenworthy, W. W. Scrugham and Reginald P. Giles. President, Wm. W. Sorugham; Secretary, B. W. Stilwell; Treasurer, Lewis Lillie. Office, Mount Vernon, N. Y. A — : — check. Confidence in the future, nevertheless, has continued general and following the turn of the year a full revival of industrial activity is anticipated. The mild .weather experienced latterly has been the cause of more or less complaint from the distributing trade, being unfavorable for business. Bee. 1, Stocks of Merchandise. Port bbls Lard... Tobaoco, domestic Coffee, Brazil.... Ootfee, other Ooffee, Java, Ac Sugar Sugar Molasses Hides Ootton Bosin Spirits turpentine Tar... Rice, E. I Bice, domestic...... tea. hhds. bags. ..bags. mats. hhds. bags, &c. hhds. No. 2,892 28,337 540 10,100 11,600 None. 6,500 100 bags. bags. 31 19,695 None. 20,800 107,335 19,543 1,053 1,450 2,100 6,900 389 5,700 6,000 None. 6,500 bbls. bales. Manila hemp.... .........bales. Sisal hemp bales. Flour bbls. and sacks 4,401 15,908 9,900 777,217 52,621 105,973 1899. None. None. None. 26,700 43,723 25,250 474 None. 19,700 48,366 bags. Dec. 1, 4,702 9,489 11,899 533,799 100,657 161,576 3,750 8,825 9,432 665,149 89,477 155,262 None. None. bales. bbls. bbls. bbls. Linseed.... Saltpetre Jute butts Nov. 1, 1900. 1900 100 None. 6,800 None. 11,021 1,947 111,900 18,644 850 Mortgage. The company has filed a general mortgage in 550 7.443 favor of the Colonial Trust Co., as trustee, to secure $10, 111,100 74.700 000,000 of 50 year 5 per cent gold bonds. The mortgage Lard on the spot has been quiet, both exporters ana re-" covers all the propertv of the company in Mamaroneck, finers being slow buyers, but offerings have been light, and Port Chester and Rye, Yonkers, Mount Vernon, Pelham, New prices have advanced, closing at 7*57^c. for prime Western Rochelle, Mount Kisco, etc., including the property of the and 7 10c. for prime City. Refined lard has sold slowly, but following companies, merged by consolidation prices have advanced to 7'60c. for refined for the Continent. Speculation in lard for future delivery has been moderately Portchester Elec. Lighting Co., Mount Kisco Lighting Co., East Chester Electric Co., Westchester Gas & Coke Co., active, and there has been some buying to cover contracts Larohmont Electric Lighting Co New York Suburban fas Co., stimulated by limited receipts of swine. Prices have adHuguenot Electric Light, Heat & Municipal Gas Co. of Yonkers, vanced and the close was steady. Power Co., Yonkers Gas Lighting Co., Pelham Elec. Light & Power Co., Westohester;Gas L't Co. of Yonkers. DAILT OLOSrNO PRICES OP LAED FUTURES. The underlying bonds include New York Suburban Gas ot Tues Wed Thur$. Fri „*!?& rx k7-50 7-42 750 7'57 5s, $1,200,000; Westchester Gas Light Co. of Yonkers, Dec 7-60 7-57 Pork has had a moderate sale at steady prices, clo3ing at $70,000; Municipal Gas Co. of Yonkers, $49,000. All except $529,000 of these issues are owned, it is understood, by the $12@12 25 for old mess, and $12 50@13 for new mess. CutWestchester Lighting Co. For New York Suburban Gas Co. meats have been dull. Tallow has weakened to 4%c! Cotton-seed oil has had a moderate sale for forward deliveries see V. 68, p. 474 V. 70, p. 844. Bonds Offered,— OS the new bonds dated Dec. 1. 1900, and but at easier prices, closing at 3lc. for prime yellow on the due Dec. 1, 1950, J. & W. Seligman Co. are offering, by spot. Butter has had a fair sale and prices have advanced advertisement on another page, the unsold balance of the slightly. Cheese has been fairly active and firmer. Fresh first issue of $2,921,000 at 102% and interest. No option is eges have advanced, closing firm. Brazil grades of coffee have had only a very moderate sale reserved to pay these bonds before maturity. The advertisePrices have been irregular, the lower grades holding .'steady ment says: The total authorized issue is $10,000,000, of which there is reserved while the better grades have declined. The close was dull with trustee for redemption of underlying bonds $529,000; forcer- at 73^c. for Rio No. 7. West India growths have been quiet tain additions, extensions and betterments now in course of construc- and nominal quotations have been unchanged at 9%c. for tion, $1,000,000; reserved to be used from time to time for additions, East India growths have been fairly active extensions, or betterments, or to acquire unencumbered new plants gooi Cucuta. or properties, $5,550,000; present issue, $2,921,000. Thomas Dolan, and steady at 19@19^c. for interior Padang. Speculation President of the United Gas Improvement Co., says: The population in the market for contracts has been quiet and the tone has of the territory covered at present is estimated at 172,000, and was been unsettled. Early in the week prices advanced on a deshown by the United States Census of 1890 to have then been about creased crop movement. Subsequently, however, receipts 114,000, a growth of over 50 per cent. The franchises extend beyond the date of the maturity of the bonds, and are mostly perpetual. The increased and prices declined, closing barely steady. The total net earnings of the merged companies amounted, during the year following are the closing asked prices: 1899, before consolidation, and under separate management, to 5-95o. March $238,103, and it is expected that the economies of consolidation as Deo 615o. July 635o ""' 6-00o May well as increased business due to the extensions and rapidly increas- J»n 6-30o. Sept 6-45o 605c. June ing population in the territory served will result in largely increased net Feb 6-35o. Oct 6-45c earnings. Since the close of the year 1899 the gas output of the Raw sugars have been in small supplv and firm at 4 7-16c merged companies has increased over 1899 at the rate of 20 per cent for centrifugals, 96 deg. test, and 3 15-16c. for muscovado 89and the electric output at the rate of 11 per cent. The annual fixed Refined sugar has baen firmer but quiet, closing charges, including interest on the bonds now offered, amount to deg. test. $173,710. -V. 71, p. 1023. at 5-55@5 60o. for granulated. Teas have been steadier. Kentucky tobacco has met with a light demand and prices Woolson Spice Co.— Case Appealed. The case of Arbuckle et al. against the company, it is stated, will go the Circuit have been irregular. Seed leaf tobacco has been quiet, but values have held about steady. Sales for the week were Court on appeal. See V. 71, p. 920. & Tube Co.— Incorporated. 1,445 cases, as follows 75 cases 1899 crop, New England Yonngstown (0,) Iron Sheet' Geo. D. Wick, whose resignation as First Vice-President of Havana seed, 30@55c; 450 cases 1899 crop, Pennsylvania the Republic Iron & Steel Co. went into effect Dec. 1, has, seed leaf, 12@12%c.; 400 cases 1899 crop, Zimmers, together with James A. Campbell, Gso. L. Fordyce and 15%c, &c; also 150 bales Havana at 35@92^c. in bond and William and Edward Wilkoff, organized the Yonngstown 150 bales Sumatra at 80c. @$1 70 in bond. Straits tin advanced early in the week. Subsequently, Iron Sheet & Tube Co., with $600,000 capital stock, which, however, cable advices came unexpectedly lower, and the it is stated, will soon be increased to $1,000,000 or more. The new concern proposes to erect a complete sheet and improvement was more than lost, closing at 27 25@27 59c. Ingot copper has been quiet and unchanged, closing steady tube- plant, probably just outside the city limits of Yonngsat 17c. for Lake. Lead has held steady at 4 37j^c. for town. Offices have been opened in Yonngstown. Officers: domestic. Spelter has weakened slightly, closing quiet at Treasurer, Colonel George D. Wick; Vice-President President and Pig-iron meets with a fair and General Manager, James A. Campbell, late district manager of 4-223^@4-27^c. for domestic. the Republic Iron & Steel Co.; Secretary, Robert Bentley, Treasurer sale at steady prices, closing at $13@16 50 for domestic. and Manager of the Ohio Iron & Steel Co.; Auditor, William C. Refined petroleum has been steaiy closing at 7 25c. in bbls. Reilly, late Assistant District Manager of the Republic Iron & Steel Co. 4-70c. in bulk and 8 -55c. in cases. Naphtha unchanged at 9-55c. Crude certificates have been neglected. Credit balAttention is called to the' offering by Jacob Rubino of ances have been steady at $1 07. Spirits of turpentine haa 1,000 shares of Twin City Rapid Transit preferred 7 per been quiet and prices have again weakened, closing at cent stock. The company is paying dividends at the rate 42c.@42J£c. Rosins have advanced to $1 65@1 70 for comof 3 per cent on $15,000,000 common stock in addition to mon ana good strained. Wool has had a limited sale at about steady values. Hops quiet and without change. the 7 per cent on the $3,000,000 of preferred. : , ¥ - - ; & t I I ! | ' , — : — UM@ , — , . . — . 5 . . THE CHRONICLE. 1176 COTTON. Friday Night, December 7, 1900. the Chop, as indicated by our telegrams The Movement of from the South to-night, Is given below. For the week ending this . . evening the total reoeipts have reached 308,284 bales, against 234,844 bales last week and 283,0S5 bales the previous week, making the total reoeipts sinoe the 1st of Sept., 1900, 3,675,040 bales, against 3,295,376 bales for the same period of 1899, showing an increase sinoe Sept.l, 1900, of 379,664 bales. Receipts at— Mon. Sat. Tuet. Wed. Thurs. Total Fri. In addition to above exports, our telegrams to-night also give us the following amounts of cotton on shipboard, not cleared, at the ports named. add similar figures for New York, whioh are prepared for our special use by Messrs. Lambert Barrows, Produce Exchange Building. We & ON SHIPBOARD, NOT CLEARED FOB— Bee. 7 Leaving at— Great GerOther CoastBritain Fr'nee many. For'gn wise. New Orleans. Galveston..,. 15,754 13,022 4,691 14,225 200 15,160 3,426 37,779 13,550 13,758 .. Sab. Pass, &o. New Orleans.. 9,093 1,892 Mobile Pensaoola, &o. 6,929 Brnnsw'k.dto. 668 Oharleston Pt. Royal.&c. Wilmington.... Wash'ton.&c. 89,958 1,168 99,147 7,852 1,815 40,510 4,621 5,065 9,638 20,510 16,213 16,818 13,021 1,168 20,367 15,870 25,184 14,468 14,165 195 3,890 295 1,223 357 1,815 ••• 6,263 7,698 5,165 8,388 6,067 4,621 588 1,006 449 387 1,967 52 273,461 127,430 105,634 13,157 25,934 27,253 59,407 68,741 691,017 82,981 17,252 94 62,098 867,824 921,353 Mobile "400 Other ports 3~,66o "200 1,829 11,000 15,000 Total 1900.. 500 2,200 2*606 New York 1,003 8,338 5,000 83,963 124,567 143.', £500 30,415 214,611 72,513 402,472 52 2,645 48,f95 64,903 14,060 2,200 5,000 9,500 1,929 31,000 Charleston... Total 1899.. Total 1898.. stock. Total. 70,933 13,222 48,730 22,851 21,541 177,277 Savannah Galveston LXaL [Vol. 12,314 Speculation in cotton for future delivery has show a a further fallirjg off. There has been an absence of snap to 20 20 the trading throughout the week. The indications have been 3,614 1,584 3,325 2,314 3,460 5,808 20,105 that the bulk of the business has been to even up accounts, 1,728 awaiting future developments. 1,728 N'p't News, Ac. The small available supplies 689 6,425 carried in this market have been reflected in the greater 663 564 767 2,691 1,051 New York 857 12,921 relative strength of the near-by positions, which have con1,712 3,440 1,675 2,619 2,618 Boston......... 1,822 tinued to sell at a premium over the more distant deliveries. 1,822 Baltimore 761 The Agricultural Bureau will issue on Monday its estimate 92 50 140 300 179 Philadel'a, Ac. of the present cotton crop, which it is generally expected Tot. this week 41,915 47,431 53,032 59,878 46,114 57,914 306,284 will be between 9,500,000 and 9,800,000 bales. Until this The following shows the week's total reoeipts, the total since estimate is announced operators show little disposition to make new ventures of importance, and practically no active 8ept.l,1900, and the stock to-night, compared with last year outside interest is being shown in the market. The move1899. Stock 1900. ment of the crop has been fairly full, and many of the trade Receipts to This Since Sep. This Since Sep. are of the opinioa that for the month it will be in excess of 1900. Bee. 7. 1899. week. week. 1, 1900, 1, 1899 the movement for the same period last year. Trade reports 192,333 235,310 have not been satisfactory, and the demand for actual cotton Galveston... 89,958 968,004 73,905 1,089,564 has been largely of a hand-to-mouth character. Some of the 12,762 Sab.P.,&o. 1,168 1,562 16,996 322,156 366,310 trade, however, anticipate a sharp falling-off in the crop New Orleans 99,147 1,214,173 66,038 832,527 movement following the turn of the year, and also expect an 30,934 79,393 9,090 94,942 42,127 Mobile 7,852 improvement in trade conditions and a better demand for 49,676 P'saeola,&e. 1,815 4,716 45,309 actual cotton, which, they believe, will carry prices to a Bavannah... 4v>,510 581,475 39.800 548,299 119,684 147,085 higher basis. To-day there was a decidedly weaker turn to 10,711 46,822 4,621 Br'wiok.&o. 45,558 15,704 the market. European and Southern advices reported easier 15,357 5,065 164,678 7,210 153,369 33,852 Charleston.. markets, and this, coupled with a much larger movement of 52 388 913 P.Koyal.&o. the crop for the week than expected, resulted in selling to 14,227 Wilmington. 12,314 *1S0,795 14,859 177,237 35,708 liquidate accounts, under which prices steadily declined. 408 29 20 555 Wanh'n, AcThe close was barely steady at a net loss in prices for the day 36,753 186,828 20,105 213,385 14,421 36,476 of 13@18 points. Cotton on the. spot has been Norfolk quiet and 20,390 10,523 1,507 6,606 1,728 1,646 easier, closing at 103^c for middling uplands. N'portN.,<fee 22,337 61,336 106,692 990 6,425 7,445 New York.. The rates on and off middling, as established Nov. 21, 1900, 43,000 84,814 29,138 32,000 by the Revision Committee, at which grades other than 12,921 5,833 Boston 7,044 16,802 41,883 20,409 middling may be delivered on contract, are as follows. 1,822 5,462 Baltimore 18,207 4,236 761 8,738 4,102 9,116 Fair Phlladel.dsc o. 1*8 on Strict Good Mid. Tinged. 0. 3, 6 on MUddling Fair % on Good Middling Tinged Even 306,284 3,675,010 249 524 3,295,376 868,291 1,082,435 Strict Good Middling Totals %on Middling Tinged % off * 5,840 bales added as correction of reoeipts sinee Sept. 1. 6 ieon Strict Low Middling Tinged SoodMiddllng % off Middling Stained .. 3 16 oft % o« In order that comparison may be made with other years, Strict Low Middling 7 ,eoff Strict Low Mid. Stained... 1*8 off Low Middling we give below the totals at leadiner ports for six seasons. Strict Good Ordinary *4 off Low Middling Stained l%off Good Ordinary Hie off 1897. i.89: 1898. 1S96. Receipts at— 1900. 1899. On this basis the official prices for a few of the grades for P0.620 75,467 109,149 62,579 Galves'n.Ac 91,126 49,584 the past week Dec. 1 to Dec. 7 would be as follows. 3,286 1,102 2,939 858 1,484 . — New Orleans 66,038 9,090 39,800 7,210 14,888 14.421 1,507 21,103 108,411 14,495 43,474 18,262 19,049 31,923 1,526 46.679 113,609 20,607 47,233 22,290 18,009 26,180 1,232 37,318 8a,605 17,570 28,921 11,976 7,524 26,643 32,858 89,910 8,642 28,294 12,972 6,576 15,239 8,488 14,354 306,284 249,524 392,968 367,098 278,468 234,059 Stood Ordinary. Low Middling.. 97i„ 10i le 3675,040 3295,376 4802,169 4509,764 4099,341 2921,610 Middling 9 ood Middling.. Middling Fair.. 10% 11% Mobile Savannah... . Ohas'ton, Ac Wilm'ton, Ac Norfolk N, News, Ac. All others.. Tot. this wk*. Since Sept. 1 792 for the week ending this evening reach a total of 267,227 bales, of which 118,990 were to Great Britain, 45,390 to France and 102,847 to the rest of the Continent. Beic are the exports for the week and since Sept. 1, 1900. The exports w With Mndint Dee. 7, Hxiporttii to— Export) from— Great France Brit'n. 1000. Prom Sept. Great Conti- Iota! neni. Week. Britain 66,567 38,340 38.3B8 131.239 Galveston. Sab. Pass, Ac. New Orlean*. 41.583 8.950 21.541 72,054 3,1(5 3,165 Mobile 1,508 1,508 Pensaoola. ... 384,81 1, 1900. to Dec. Bxporttii to— France 138,011 .... 411,571 130,070 20.C22 7. 1900 Continent. 185,394 5,547 254,111 70-i.SOO Baltimore.... Philadelphia. Ban Fran.. Ao.. Total.. Total, 18»».... 9% 9\ 9*4 10% 10*16 1 10% ?1 . 10:6 „ GULF. Sat. Sat. Low Middling.... Middling Strict Low Middling Tinged. Good Middling Tinged 884 934 9 78 Mon 93g H 10 16 US t a lO'ts 1034 113,6 Wee Tu, 8U,e 9H 10 r 10^4 3 ,fl I«on Tuen 8Uif 9% 93g 10 10% 911,8 9i3 lfl 9% Wed Tk. Tuet 10^,6 113|6 913 Frl. 9"i^T 9U la 10»ie 10* ;* 103 a 10% 10*3 10*2 10% lt> 7 16 TOl&ie 1016,6 IO'&ip 10?8 10 103.1 Tte. 9% 9% 93g 10 1013 U STAINED. 1900. ...0.10% 1.898 7iii6 5"8 1897......,, 578 U196. 1895. 1894. 1893. 7»,6 838 534 7 78 25,146 25,512 3,800 21,005 6,063 6.003 69.673 50.H74 44,998 371,340 23,653 120.647 14,590 66.310 109,491 176,801 1,800 Ac 9" W Middling 3ood Middling. Middling Fair.. 1899 100,776 16,997 811,,. 9'i-,e , 913 913ic W 811,6 9'iie 913 le 103,« Frl. 95,6 916,fl 10% 1011,8 11% Frl. 85g 91>8 934 1,800 3.456 9,228 03,898 7H0 111,083 45,0i9 1884....0.1078 1883. .....10», e .lOSg 1882 1881 12 1880 12 1879 13% 1878 91,6 1877 11% AND SALES. 1876....c.l2% 133 16 1875 1874 1873 1872 1871 1870 1869 14% 1579 190s 161,12:1 10,876 1892. ...0. 9»i6 8l, 6 1891 97 16 1890 10»4 1889 1888 9% 10% 1887 97,6 1886 1885 93a 219,569 6.666 MARKET 19% 15% 25% . 14.590 Norfolk.. N'portN., New York... Boston 9% ~9h*~ Low Middling.. 7Si5,752 5,124 16,186 Mon Toes Wed Sat. Aood Ordinary. 5.547 13,801 . Charleston.. Port Royal Wilmington... UPLANDS. 10% 103,, 103, 108,* 10% The quotations for middling upland at New York on Dec. 7 for eaon of the past 82 years have been as follows, 13,601 Brunswick — 99,147 7,852 40,510 5,117 12,334 20,105 1,728 28,365 1,008 5,772 2,106 6,346 1,061 7,817 8,240 76.864 143,293 2.092T 2,092 1,006 8,840 100 7.S17 7,169 38,700 34,204 849 Thursday 45,300 102.K7 267,227 1,350,738 303.247 960,352 2,626.337 Friday... »1,474 ~44,238 UP.478 920,207 i B.C69 & Oontraoj. Ex- Oon- Oon- port. rump. traci. Total.. .. . . t-50 2,092 t Market Closed. Sales or Spot Monday 1 822,059 386,823 Fdtdbes Quiet.: Quiet Dull at ha dec. Very steady. Quiet & st'dy Dull Tuesday Steady Wednesday Dull Saturday 2,092 ...... 118,b90 10,861 spot market Olobbd. To tul. B'rly steady. Dull Dull at lie dec. B'rly steady. 144 207 2,200 180 21 552 2,200 144 2,40 7 180 21 2,752 . . . : December 9 . THE CHRONICLE. 8, 1900,] FUTURES.— Highest, lowest and dosing price? at New York, a. s SB^oSooSHogeB'gSogg&gHS'BESrsgcjaaoBScsBS SgS?S B !»CJ9< IS Soq K 2.00 2 ~0>s 3 -0« M tjog ?* Si M . J--0Q t)« | [-00 O C-oo Po> 0> W -<* d S-oo t S-oo S Pat^caWBcecs At the Interior Towns the movement—that is the receipts week and since September 1, the shipments for the week and the stocks to-night, and the same items for the aorresponding period of 1899— is set out in detail below. for the i St. 90 Rome, Yazoo Dallas. Atlanta, Vioksburg, Houston, Nashville, -J© OOS e I c*w coco oo too CO mm do os w ©If . coco ' ocoo lf»> Id coco CO OS co OS OS CC00 © Op Op coco Id coco coco coco aos OS OS If os en OSO o oo oo coto I coco CO if COCO coco d coco oo if© coco o~j on ob it- a I to Louis, Montgomery, Loulsvllle,ne< 2? City, b£ © CO f $ " " «« " O0D coco OCTO coco CH GO coco UttleRook, coco 00 OS I Columbus, Shreveport, • — coco Augusta, Columbus, Greenville, ct coco coco Helena, Eufaula, Meridian, Greenwood, 00 00 Athens, Natohez, Charlotte, Memphis, delma, Albany, Macon, Raleigh, I I . 1177 Paris, $ — 3 " S. I m " " " " " " " i " " " " " GsoBGlA... Missouri... ALABAMA... Kentucky. Mississippi. Lodisiana Tennessee.. w " Abkansas.. N.Cabolina Carolina coco ©Cn os co d I 9 I c" to to to © coco coco coco cow ©w ©w OCfl OO MM If** ww ©.-. I 9 I 9 WW «ios CO to id Id d weo o-j oo I d cow ooo Co© i woo to© W WW ww ww w WW w 0-03 tcto 0<l OS OS -J coco OS OS If If o tOM OCO oo to too WW WW WW WW WW WW WW WW WW to to »ob W Wif w© WW tow MO ww ww oo OCT) oos oo OO COM W d d d d d d d d d oooo ww ww cow WW COW WW WW WW WW oo ©O •CM ©o oo *o OS OS to 00 -J to tO tO os co If o oo to 00 W© wd mo OSO oooo J ooo if en WW coco cow coco cow COW cow WW coco IOM »$»*• CJiW ww do osd O© -OO ef o cooo 00 a to 00 CO co to 00 to HO wo COW If o oooo •JOS wco cow I i 4 I § d o CO w 00 S I $ i ' ' d I I I d I d l d I I I d I d WW wco cow ww w tots WO WW Win WOS o OO wo w If o WW cow WW cow WW to to WW WW WW ©d coco I- to woo ouo toco i d I d I d I d ww ww ww ww OS to to Win wo wo OOS too Of oo to cow O If 00 oooo ww ww ww ww ww ifw 6f coci wco co wo wo ifif oo moo oo id d Id Id id Id oooo ww ww ww W WW WW MtO ow COIf w -q.J COIf If w wto m© 00 to If cow ifif. if s I 00 CO M o w CO o CO w o CO If d d 1 d d WW o oo w too cow 03 05 O-J i d cow O-J i CCW o<i O00 cow MM oo Olf I d I ww ww oo oo oo to CO If o o d WW - id Id id n «• a • o d Ol co d I I w o CB d <*> ... p ft. • W -j o I i/ 1-0 w d If w d M M tO OMtOM M M M tO WMMM tO t0 M 5 i 10 m**>© — p^o©^ ©©© i " M .t0 '**'j^P." J . wlo,"n tO*-J w"" W w"osaD © — OS 00 ©^f W*3i OS W tO WW © w 03 OS W 00 MWCOOOWOOWlf; MOr-OJOWO^WIOO'r-'tOlfMO^WWaM >-" ooocoo > s, .': .* ; ; 1 ^ "i- c* % ** _o •x © S8 c "-0 tOOOMtOlfMWWcO' lfWODWOOJ'tOWW©lf©lfh-lfOWMtOW o m o M to taaojf os MMwcowtstotsoo po If Oo'** WO'oOOOOoloMlf UiOOWOD i»lf tOCnOOOOtO to »oo*tOMif to top k> tOMOO CO 00^- ©M CD tO O" 00 if WWO00 MOWOMOtf MOOSlf ^llf -owos WOO O*--ififO0DO©WMOOWWifWWO0DtDt0<yi#vWifOt0WWlfM fett 1 ft » a o 5 n M M M M w IfOCOO CO M M If 1 g WMMMMWlf Wif tO** MO COMCOWO*. K0S»""hH s © m_*- w *•*>• to p^-. © Mpp W 00 W If NWO M W »»JW Ojj>v; OOJ-'.p 5 ooV 00 ts *w to © w"i» o oo* iooo'sc CO*- 00 ^o"** to OO GO © W C" Tf ow en w OllfW00O03t0WO-'HOt0MWlfif©©00W>-'3>#.*OOtOlf>-'00e -I b O ^coobo^^>Hwi-iVQoiiii-'H*;<oiF*-joiect3ao)(X)Ow^*-^c!sio CO s 8 IO CO O tO M W s to MMjfco w £-'*'*-'&> S^^-^y ^o^ M .Mi w Mi .Kl .M.*k c* a OoVl M W ifO W M CONOCO fflVvlffiH M*tO 00 OC O Md vlO to w ©bib m 1 f OOWWOlinWlflfOOtOK.COMOSOMtO'-'tOWCOWlfl-.OOCcQOCOMtoOO 3 lfMifOOO<OXOMWO>OOOOMWWao©COWt9MOOCOOOWO 5" M CD f M CO b oo OC tO o 00 OlO to tO CO O IO *n MM tOMMtO * w ptOtOjf Olt-tSM. tOOOOtOWMOWMOOWC WOOOtC if pwto p co om w©otoco©*-©Mwboob'-=oco"-- if mo 00 $ to o m wo co b CW*OW^S©W00m; 0000lf^lM03W0SOOO00-.]^t00a<-WJt000 H J W©lf^ltOU>lf©©' lftO-JtOW03MWlnMtsWif©*»OWW-'10» at "is 1 ,, . o .' 'if . (iS* co >» d CO w w w CO 00 o o d 00 w o CO o w If © The Visible jsupply of Cotton to-night, as made up ny I I M © OS CO to 1 I b CO CO ' a 1— "to 00 WW WW WW WW wo wo oso ooo Mlf ^100 fCO CO If So Ol M M M CO M O HWHtDtO W«M -tOM HftB OWtOW w os*w ow o © © oo tolf co a mm co If ** o oo wd o"to o to to ^ 5' os to ii'MWOMif|f03©K)J.O--'OtOwossoO*-'Mos-J>-'MXin^JOCOOs O 00OO©WW-JC0j. |fOO©WCO©r-©iflf©ifOlftCWtOlf»-©WO w OS o oooo cooo tOlf if * CC O 00 to ©£ CO ^ODCOM "oo to d id M «q W © © 00 M 10 M O O © M 00 O • 00 00 to to f5 s Mlow©towlo'co'oooob"©Qo'tol33 0s~]ooi-.©© wos w"- dc^Vioo w-^ to OS 00 4 MMM O O if tO O A if O W © 00 O 10 1^ OS ei W - 00 lfTOtOOSOOWtO©3sili tOWOO:OOQDOW>Mvy. *^t0 — •JCOt0~iC0-J o» tow-awowtoosowtoooooifwwooo — m^-ow^cooodmj.w p 1 tO 10 OS OS WW ww M "tOl-tCO If OOWOCO 00 MO I- MOD tO If If HMMffi <T. W 35 i M CO ft 2? ifWifWCOi-'OlfOififOWWOSWOWifObSW^ICuWOOrWOWO » w 01 > t» .*5f , 1 OS OS oooo ww ww ww ww cJif ww as. do o-j wco oo wco , d d co 00 © CO 00 i f 1 I I I « f CO w pw**'50M .w^IM K> t3 03t0 00 CO MM woo tfk.©mco 00 f o ODD K)b ** To O U« *0)© WO*^ Olf M W O W*-J *» © CO M tO 00 H> If"" CO tO -JCowifi- Oifooto'' ©csifw©oco3'yo©woif»-'asi- coo>-' CO "co ' I W O cos If If to MM . co d oi) cable and telegraph, is as follows. Foreign stocks, as well as the afloat, are this week's returns, and consequently all foreign figures are brought down to Thursday evening. But to make the total the complete figures for to-night (Dec. 7), we add the item of exports from the United States, including in it the exports of Friday only. 1897. 1899. 1898. 1900. Stook at Liverpool ....bales. 486,000 749,000 1,113,000 665,000 Btook at London... 16.000 2,000 3,000 3,000 Total Great Britain stook. 502,000 751,000 1,116,000 668,000 Stook at Hamburg 8,000 15,000 16,000 13,000 Stook at Bremen 228,000 211,000 210.000 241,000 Stook at Amsterdam 2,000 ...... 1,000 1.000 Stock at Rotterdam 2()0 200 200 300 Stook at Antwerp 8,000 4,000 5,000 7,000 Stook at Havre 84,000 180,000 172,000 197,000 Stook at Marseilles... 2,000 4,000 4,000 4,000 Stock at Barcelona 51,000 27,000 75,000 30,000 Stook at Genoa 12,0 26,000 58,000 35,000 8took at Trieste 3,000 5,000 4,000 10,000 Total Continental stocks . 371,200 571200 521,300 489,200 Total European stocks 874,200 1,322,200 1,667,300 1,157,2<>0 India ootton afloat for Europe 35,000 5,000 15,000 9,000 Amer cotton afloat for E'rope. 690.000 422,000 874,000 851,0(0 T E(ryot.Brazil,&c.,aflt.forE pe 64.000 79,000 77.000 64,000 Stock in Alexandria, Egypt... 144,000 l'O.OOO 203,000 1*7,000 Stock in Bombay, India 171,000 213.000 175,000 149,000 Stock In United states ports.. 868,294 1,082 435 l,32:-:;825 ,119,6d5 Stook in U. 8. interior towns.. 692, "25 805,019 709,639 613.263 United States exports to-day., 24,738 46,208 _ 53639 38,811 Total visible supply 3,592,840 4.121,392 5,047,972 4,203,757 Of the above, totals of American and other descriptions are as follows: h-> s*- "to • The above totals snow that the interior stocks nave tnsreased during the week 40,560 bales, and are to-night 112,494 bales less than at same period last year. The receipts at all towns have been 46,908 bales more than same week last year. Overland Movement for the Week and Since Sept. 1. below a statement showing the overland movement for the week and since Sept. 1, as made up from telegraphic sports Friday night. The results for the week ending Dae. 7 and since Sept. 1 in the last two years are as follows. We give 1900. December 7. Week. 1899. Since Sept. 1. Since Week. Sept. 1. — Shipped 417,713 3,264 7,856 3,382 16,697 423,631 58,325 108,349 6,960 402 3,6 5 643 31,996 52,v66 7,170 9.626 25.004 9,431 96,118 101,820 741,019 92,557 765,830 21.929 11,046 3,807 132,691 63,708 18,128 16.38 7 5,327 96,673 25,416 44,085 36,782 214,527 27,527 166,174 Leaving total net overland*.. 65.038 526,492 Including movement by rail to Canada. 65,030 619,656 Via Cairo 55.058 15,113 . VlaPaduoah Via Rook Island ....„, ..„..„..„„ Via Louisville... Via other routes, &o._. 4,'0 112270 5,979 6.494 96,635 68.4 24 7»,315 . — Deduct shipments Overland to N. Y., Boston, Inland, 428,000 345.000 American afloat for Europe... 690.000 United States stock 868,294 United States interior stooks- 692,525 United States exports to-day.. 38,811 Total American 3,062,640 East Indian, Brazil, <lc— Liverpool stock 58,000 London stock 16.000 Continental stocks 27,200 India afloat for Europe 35,000 Esrvpt. Brazil. &c. afloat 79.000 Stock in Alexandria, Egypt. 144,000 Stook in Bombay, India 171,000 Total East India, &0 530.2(0 Total American 3,062,640 Total visible Bupply 3,59^,8i0 Middling Upland, Liverpool.. 5»i 6 d, Middling Upland, New York.. lO^o. Egypt Good Brown, Liverpool 7 sgd. Peruv. Rough Good, Liverpool 73gd. Broach Fine, Liverpool 5i3 16 d Tlnnevelly Good, Liverpool. . 5 ^d bales. . , 659,000 1,022,000 562,000 538,000 475,000 451,000 422,000 874.000 851,000 1,082,435 1,323 825 1,1 9,655 805,019 709 639 613 263 24.738 46,208 53,6 3,531,192 4.450,672 3,650,557 1 > Ac, from South.... Totalto be deducted AmericanLiverpool stook Continental stocks * &c. ,,. The foregoing shows that the week's net overland movement Ms year has been 65.038 bales, against 65,030 bales for the veek in 1899, and that for the season to date the aggregate net iverland exhibits a decrease from a year ago of 93,164 bales. 1900. 90,000 91,000 103.000 3,000 2,000 3,000 38,200 46.300 33,200 9,u00 15,000 5,000 77.0O0 64,000 64,000 20^,000 187,000 170,000 213.000 175,000 14^,000 590,200 597, 300 553.200 3,531,192 4,450,672 3,6 0,557 4,1^1,3^2 5,047,972 4,203.757 4i- 32 d. 7"l6<5. 63ed. 73sd. 43ed. 43 l6 d. 35 32 d. 5*3i 6 0. 33, „d. 434d. 4 i^d. 6%d. 63gd. Si4d. 3^4d. 3d. 5'8 o. tST Continental imports past week have been 147,000 bales, The above figures indicate a decrease in 1900 of 528,552 bales as compared with same date of 1899, a loss of 1,455,132 bales from 1898 and a decline «f «10,917 bales from 1897. 5,8i 3 1899. In Sight and Spinners' Taktngt. Wtek. Set overland to Deo. 7 Southern consumption to Deo. 7.. Since Sept. 1. Week. Since Sept. 1. 306,284 3,675,040 249,524 3,295,376 65,038 5 26,492 65,o.i0 619,656 28,000 392,000 29.000 404,000 399,322 4,593,532 343,554 4,319,032 40,560 647,898 29,617 561,836 Total marketed.. 373,171 Came Into sight during week. 4c 9,882 4,886",868 5,241.430 Total in sight Deo. 7 florth'n spinners tak'gs to Dec.7. Movement 1898 1897 1896 1895 89,546 782,069 116,389 1,056,035 into sight in previous years bales. 492,50*7 458,228 342,522 322,827 1898 1897 1896 1895 /Since Sept. 1 bales. .^271.308 5,925,732 5,291,756 4,183,427 . . THE CHRONICLE. 1178 Quotations for Middling Cotton at Other Markets. Below axe closing quotations of middling cotton at Southern and other principal cotton markets for each day of the week. CLOSING QUOTATIONS FOB MIDDLING OOTTOH Week ending Dec. 7. Satur. Mon. Tues. Wc&nct. Galveston... 9»16 9H 16 9H t6 9Hi6 9»8 913 16 9»16 96a 95s 95a New Orleans 9is 18 9»8 Mobile Savannah... 9H 18 Wilmington. 958 95g Norfolk"..... 9% Charleston. i> Baltimore . St. 9^,6 5 9 8 9 78 Cincinnati.. 107,6 978 Frt 9i3 16 911,6 913 16 9»,p 99,„ 9%«»8 9%'»58 9"l6 9% 9% 95g 103,e 95s 934 103 1& 103 1e 107 ie 107 ia 103a 934 10% 978 ^1« 913 10% 9i»i« 913 la 16 9*8 913 16 913 |6 9"i« 9n 16 » 78 978 9*8 978 9 78 9 '8 Louisville... 10% 9i3 ie 913 lfl 95s 9i»rt Louis 10% 10% 9 '8 916, 8 Memphis 934 103i6 lO'ie ' 10% 10% Philadelphia 5g 9% 10»4 . 9is la 99,6 958 95g 91316 9»16 9^8 958 Thur$. ON- 9 78 9*8 978 The closing quotations to-day (Friday) ^'le 91i 16 10% & 913, 6 913, 6 9H 13 9*8 9*8 at other importatt Southern markets were as follows. Athens , Atlanta Charlotte Columbus,. Ga. 95a GolumbUB.Miss Eufaula 9% 9% 99a 9% Nashville. 96a Natchez [Vol. 1 .XXI. Month's rainfall four inches and sixty -six hundredths. Telegram of last week from Memphis did not report the rain as beneficial to cotton. Our remark to that effect was erroneous. Nashville, Tennessee.— have had rain during the week to the extent of twenty-three hundredths of an inch. The We thermometer has average 43, the highest being 60 and the lowest 27. Month's rainfall eight inches and eighty-seven hundredths. —We Mobile, Alabama. have had rain on four days during the week to the extent of sixty-one hundredths of an inch. The thermometer has averaged 52, ranging from 39 to 67. Month's rainfall three inches and seventy-six hundredths. Montgomery, Alabama. It rained on two days in the early part of the week, the rainfall reaching sixty- one hundredths of an inch, but since, the weather has been cool and pleasant. The thermometer has ranged from 37 to 63, averaging 43. Month's rainfall five inches and thirty hundredths. Selma, Alabama. We have had rain on two days of the past week, to the extent of seventy- five hundredths of an inch. Average thermometer 60, highest 87, lowest 33. Madison, Florida. Rain has fallen on two days of the week, to the extent of twenty hundredths of an inch. The thermometer has averaged 58, the highest being 70 and the — — — lowest 41. Raleigh 9H Little Booh Savannah, Georgia.— Rain has fallen on two days of the Shreveport.... 9% Montgomery... week-, to the extent of fifty-five hundredths of an inch. AverReceipts prom the Plantations. The following table age thermometer 53, highest 69, lowest 40. November rainindicates the actual movement each week from the plantaThe figures do not include overland receipts nor fall three inches and sixty-four hundredths. tions. — 9=8 93a 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. — Augusta, Georgia, Rain has fallen on two days of the week, the rainfall reaching one inch and thiity-nine hundredths. The thermometer has averaged 48, ranging from 32 to 61. Charleston, South Carolina. Rain has fallen on two days H.ceeivtt at the Portt St'k atlnterior Towns. Rec'vtt/rom Plant nt Wtik of the week, to the extent of eighty-four hundredths of an Ending— 1900. 1899. 1898. 1899. 1898. 1900. 1899. 1698. 1900. inch. The thermometer has ranged from 40 to 70, averaging Nov. 2 .. 800,453 234,990 456,181 513,959 646,123 673,625 862,150 270,275 498,422 52. Month's rainfall four inches and forty-eight hundredths. Stateburg, South Carolina.—The rainfall during the month " 9 .. 295, :32 262,391 449,742 515,933 694,662 625,676 827.786 810,928 501.89S " 16 ... 278,372 270,954 416,642 59U.008 781,002 637,233 322,617 307.274 428.199 of November reached two inches and fifty-one hundredths. " Greenuood, South Carolina. — Ham has fallen on one day of 23 ... 283.085 263.741 422,057 605,802 766,193 683,320 298,879 268,932 468,144 " 30 ... 281,844 222,999 894,897 651,965 775,402 708.270 331,007 232,208 419,847 the week, to the extent of one inch and seventy- five hunDec. 7.... 306.284 849.524 392,9(58 692,525 805.019 7C9.639 346,844 279,141 394,33? dredths. The thermometer has averaged 45, the highest statement shows: 1.— That the total receipts being 56 and the lowest 35. November rainfall, three inches The above from the plantations since Sept. i, 1900, are 4,322,938 bales; in and forty-nine hundredths. Charlotte, North Carolina. have had rain during the 1899 were 3,857,212 bales; in 1898 were 5,407,689 bales. 2. That although the receipts at the outports the past week to the extent of one inch and ninety-seven hundredths. week were 306,284 bales, the actual movement from planta- The thermometer has averaged 44, ranging from 30 to 58. tions was 346,844 bales, the balance going to increase Month's rainfall, three inches and eighty-five hundredths. The following statement we have also received by telegraph, Last year receipts from the stocks at interior towns. plantations for the week were 279,141 bales and for 1898 showing the height of the rivers at the points named at 3 o'clock Dec. 6, 1900, and Dec. 7, 1899 they were 394,337 bales. — , —We — Weather Reports by Telegraph.— Reports to us by telegraph from the South thi3 evening indicate that the weather has been fairly favorable the past week. Rain has fallen in almost all sections, but as a rule the precipitation has been The marketing of cotton has made good progress. light. Galveston, Texas.— There has been rain on one day during the week, to the extent of one inch and sixteen hundredths. The thermometer has ranged from 42 to 62, averaging 51. November rainfall one inch and sixty-four hundredths. Abilene, Texas.— There has been no rain during the week. Average thermometer 47, highest 66 and lowest 28 November rainfall twenty-four hundredths of an inch. Corpus Christi, Texas.— Dry weather has prevailed all the week. The thermometer has averaged 56, the highest being 68 and the lowest 44. Month's rainfall, twenty-five hundredths of an inch. Palestine, Texas.—The week's rainfall has been sixteen hundredths of an inch, on one day. Tne thermometer has averaged 50, ranging from 32 to 68. Month's rainfall, three inches and eighteen hundredths. San Antonio, Texas. We have had dry weather all the week. The thermometer has averaged 52, ranging from 34 to 70. November rainfall one inch and eighty-two hun- — dredths. New Orleans, Louisiana. —Rain has fallen on two days of the week, the rainfall being one inch. The thermometer has averaged 54. November rainfall one inch and twenty nine hundredths. Shreveport, Louisiana. There has been rain on one day of the week, the precipitation reaching twelve hundredths of an inch. The thermometer has averaged 49, the highest being 65 and the lowest 84. Month's rainfal two inches and eighty-three hundredths. Columbus, Mississippi. It hss rained on three days of the week, the precipitation reaching sixty-eight hundredths of — — Dec. 7, '99. Feet. New Orleans... Feet. 7'2 2-9 240 95 27 7 26-9 121 Above zero of gauge. Memphis...... ........ .Above zero Saahville. ....... Above zero Shreveport Above zero vicksburg Above zero India Cotton of of of of gauge. gauge. gac ge gauge. 1-3 28 Movement prom all Ports. —The receipts of cotton at Bombay and the shipments from all India ports for the week ending Dec. 6, and for the season from Sept. 1 to Dec. 6 for three vears have been as follows: 1900. Receipts at— Week. 38,000 1898. 1899. Since Since Week. Sept. 1. 115,000 Sept. 1. 35,000 For the Week. 208,000 Week. 40,000 Since September Since Sept. 1. 152,000 1. Exports from— Or eat Britain. Continent. Total. Great Britain. Continent. Total. Bombay— 1900 1899 1898 Calcutta— 1900 1899 1898 6,000 2,000 4,000 8,000 2,000 4,000 1,000 1.000 2,000 1,000 1,000 2,000 1,000 3,000 12,000 1,000 1.000 75,000 4,000 33,000 87,000 4.000 34,000 7,000 3,000 10,000 8,000 3,000 12,000 7.000 1,000 6,000 10,000 1,000 8.00O 30,000 P.000 39,000 13f\000 Madras— 1900 1899 1898 1,000 .•>> 2,000 All others- 1900 1899 1898 1,000 6,000 3,000 3.000 4,000 24,000 9,000 35,000 6,000 10.000 22,000 113,000 1,000 Total all— 4,000 an inch. 6, '00. Dec. 3,000 17,000 17,000 3,000 1899 Vicksburg, Mississippi.—It has rained on two days of the 8,000 8,000 9,000 84,000 93,000 1898 week, to the extent of twelve hundredths of an inch. The According to the foregoing, Bombay appears to show an thermometer has ranged from 37 to 62, averaging 51. increase compared with last year in the week's receipts of November rainfall two inches and eighty-three hundredths. Exports from all India ports record a gain It has rained on one day during 3,000 bales. Little Rock, Arkansas. show the week, the precipitation being ten hundredths of an inch. of 7,000 bales during the week and since September 1 an increase of 118,000 bales. The thermometer has averaged 48, ranging from 34 to 64. New Orleans Cotton Exchange Annual Election.— At Helena, Arkansas.— It has rained on one day of the week, the rainfall reaching forty-eight hundredths of an inch, and he annual election of the New Orleans Cotton Exchange there are indications of more. The thermometer has ranged held on Monday. Dec. 3, the following ticket was elected: from 32 to 62. averaging 47 "4. November rainfall six inches President, S. P. Walmsley; Vice-President; E. Bornemann; and seventy- four hundredths. Treasurer, J. H. Abraham; directors, Maurice Stern. H. R. Memphis, Tennessee.— There has been rain on two days Labouasie, C. L. De Fuentee, E. I. Glenny, Thoe. Halford, during the week, to the extent of nine hundredths of an inch. H. C. Ludlow, E. Sevilla, M. E. Da Quesnay, Wm. Overton, Average thermometer 47*8, highest 60*9 and lowest 35"6. S. Wexler, R. T. Hardie and C. P. Ellis. — — . . December THE CHRONICLE. 8, 1900.] Alexandria Receipts and Shipments op Cotton.Through arrangements we made with Messrs. Davis, Benaohi & Co., of Liverpool and Alexandria, we now receive a weekly cable of the movements of cotton at Alexandria, Egypt. The following are the receipts and shipments for the past week and for the corresponding week of the previous two years. Alexandria, Egypt, December 1898. 1899. 1900. 5. Receipts (cantar s *) . . Sept. 1. This week. Since This week. Since This week. 330.000 2,799,000 320,000 3,266,000 275.000 2,432,000 Sinoe Sept. 1 Sept. 1. Since Sept. 1. 33,000 133,000 21,000 157,000 8,000 110,000 21,000 147,000 19,000 107,000 13,000 80.000J 46,000 213,000 42,000 304,000 27,000 217,000 Total Europe Aoantar 18 98 pounds Of whloh to America in 1900, 16,098 bales; in 1899, 33,327 bales, in 1898, 10,589 bales. Manchester Market.— Our report received by cable from Manchester states that the market is steady for yarns and firm for shirtings. The demand for both India and China is improving. We give the prices for to-day below and leave those for previous weeks of this and last to-night year for comparison. 1899. 1900. 8H lbs. Shirt- Oott'n 32* Cop. ings, Twist. Nov. 2 838 ®9>fl " 9 8H W938 " 16 8&18«938 " 23 87, 6 ®938 " 30 838 »9*3 Dec. 7 8*9 ®9»a 8. d. 8*4 lbs. Shirt- Ootl'* common Mid. 32s s. d. d. 5 4i«®7 11 5 4iflJJ7 11 5 5 ®8 5 5Jfl®8 5 6 ®8 5 G ®8 Oop. ings, Twist. Uplds to finest. d. — Egyptian Cotton Crop. Mr. Fr. Jac Andres of Boston is in receipt of mail advices dated Alexandria, November 10, as follows I bave been in the cotton business sinoe 1864 and have never met with such an adverse seaaon. Crop estimates 5,250,000 cantars, and the spinning outturn will be light, as a crop of this size of deficient quality would mean only about 4,750,000 cantars useful spinning' cotton, perhaps less. Arabs, expecting higher values, will only sell sparingly, which causes the small arrivals. Grade is Inferior, but staple better than last season. We bad hardly 10 per cent last year of inferior graflep; we will probably have fully 25 per oent this season. Later on mills cansuming good qualities will have to face short supply. Prospeots for orop 1901 1902 are excellent as regards irrigation. shipping Mews. As shown on a previous page, the exports of ootton from the United States the past week have reached 267,227 bales. The shipments in detail, as made up from mail and telegraphic returns, are as follows: — Total bales. Exports (bales)— d. 1179 d. d. d. s. 9 4 37^ 7 Upldi to finest. 5»32 67, 6 ®738 59.32 7 ®7!fl R9 1B 7 -37^ 558 7 ®7i9 5°8 7 59. „ common Mid. a>7»* 4 4 4 4 4 a. ®7 6 10ifl®7 10ifl©7 7i« 714 7»* 10i«a7 7ifl 10i*a>7 7Vi 10*3® 7 d. d. 41 32 43 Ih 4 3 32 47 32 4"s2 4H32 Sea Island Cotton Movement. — We have received this (Friday) evening by telegraph from the various ports the details of the Sea Island cotton movement for the week. The receipts for the week ending to-night (Dec. 7) and since Spet. 1, 1900, the stocks to-night, and the same items for the corresponding periods of 1899, are as follows. 7. 33,707 4,170 641 5,2b2 4,357 1,060 616 564 Total 1899. Slock. This Since This Since week. Sept. 1. week. Sept. 1. 1900. 3,102 43.346 4.282 Liverpool, per steamers Cymric, 1,925 Philadelphian, 26 To Hull, per steamer Buffalo, 533 To Manchester, per steamer Cervantes, 478 upland and 878 Sea Island To Havre, per steamer Massapequa, 64 upland and 36 Sea IslaDd To Bremen, per steamer Mainz, 474 To Hamburg, per steamer Cap Frio, 300 To Antwerp, per steamers Noordland, 152. ..8t. Fillans, 31 To Genoa, rer steamer Bolivia, 250 Werra, 200 To Naples, per steamers Tartar Prince, 100 To Trieste, por steamer Pontiac. 4C0 To Venice, per steamer Pontiac, 499 New Orleans— To Liverpool— Nov. 30— Steamer Ernesto, 3,t>C0 ...Dec. 1— Steamers European, 16,442; Wm. Cliffe, 5.634. ...Dec. 6— Steamer Politician, 15,887 To Havre— Dec. 6— Steamer Imani, »,950 To Bremen— Dec. 6 Steamer Knight Bachelor, 8,720 To Rotterdam Deo. 5— Steamer Euston, 900 To Antwerp—Deo. 5— Steamer Mary Park, 1,120 To Barcelona— Dec. 1— Steamer Martin Saenz, 6,101 To Fiume— Deo. 7— Steamer Gottfried Schenker, 100 To Trieste— Dec. 7— Steamer Gottfried Schenker, 2,932 To Venice— Dec. 7— Steamer Gottfried Schenker, 1,668 GALVESTON—To Liverpool— Dec. 1— Steamer Lugano, 8,637 Dec. 5— Steamers Hylas, 15,685; Irada. 25.192 To Manchester— Deo. 3— Steamer Niceto, 7,053 Nov. 30— To Havre— Nov. 29— Steamer Indrani, 14,460 Dec. 5— Steamer Taunton, Steamer Fashoda, 9,176 12,704 To Bremen—Nov. 29— Steamer Neptune, 9,205... Nov. 30 Dec. 1— Steamer Mantinea, Steamer Cayo Largo, 7,616 7,251.... Dec. 6 -Steamer Hostilius, 10,593 To Hamburg -Nov. 29— Steamer Mountby, 1,831 ...Nov. 30 -Steamer Westgate,599 To Antwerp- Dec. 4— steamer Kendal Castle, 1,237 Mobile—To Bremen— Dec. 1— Steamer Dalmally, 3,165 ... Pensacola— To Liverpool— Dec. I— Steamer Alicia (additional), 1,508 1900. Receipts to Dec. New York—To 1899. 46,795 24,243 21,480 5,035 2,166 4,104 6,45& 236 648 58,288 26,645 26,232 5,871 1,006 Boston—To Liverpool— Nov. 27— Steamer Lancastrian, 150 Dec. 1 — -teamers 1, 1900. tforth'n Mills. Exports from— Great Fr'nce Great Fr'nce Total. Brit'n. Total. BriVn. <tc. <£c. Savannah. New 2,761 . Oharl't'n.&o Florida, &o. York.. 1,530 4,291 452 "878 "36 "914 452 Since Week. Sept.! 850 600 564 6,433 1,072 4,357 i*,874 "212 2,086 36 914 4,087 1,742 6,829 2,014 11,862 175 175 11,877 4,330 16,207 2,310 16,196 Boston Balt.,<feo Total , Total 1899.. 878 A 100 474 300 183 250 300 400 499 41,563 8,950 8,720 900 ',120 6,101 100 2,932 1,668 49,514 7,053 36,340 34,665 2,430 1,237 3,165 1,006 Norsemore, 3,805; Sylvania, 46 Deo 4-Steamer New England, 3.316 Baltimore— To a Liverpool— Nov. 24— Steamer Rowanmore, 892 Since Sept. 1,356 1,508 — 7. 533 8AV4NNAH— To Bremen— Nov. 30— Steamer Ormesby, 6,701 6.701 To Antwerp— Dec. 6— Steamer Aielaby, 6,900 6,900 Charleston— To Barceiona-Deo. 3— Steamer Chatburn, 6,063 6,063 Wilmington—To Bremen- Dec. 5— Steamer Wandby, 14,596.. 14,596 Newport News—To Liverpool— Dec. 3— Steamer Kanawha, Dec. 1— Steamer Quernmore, 2,442 4,747 The exports for the week ending this evening reach a total To Bremen— Dec. 1 — Steamer Labuan, 101 To Hamburg— Nov. 28— Steamer Bethania, 950 of 914 bales, of which 878 bales were to Great Britain, 36 to Bremen, and the amount forwarded to Tacoma— To Japan— Steamers Queen Adelaide, 150; Viotoria, to Prance and 200 Northern mills has been 2,014 bales. Below are the exports San Francisco-To Japan— Steamers China, 192; Gaelic, 150; Hong Kong Maru, 508 Deo. 6— Steamer Nippon Maru, for the week and since Sept. 1 in 1900 and 1899. Week Ending Dec. 1,951 7,317 7,189 101 95C 350 1,742 Total 267,227 of the foregoing shipments, arranged in our usual form, are as follows. Great Frencn Qer- ^Oth.B'ropc-* Mexico, The particulars Brit'n New York. ports. many. North. South. 3,840 100 774 N. Orleans. 41.563 8,950 8.720 Galveston. 56,567 36,340 37,095 Mobile 3,165 Pensaooia. 1,508 Savannah.. 6,701 Charleston Wilmingt'n 14,596 N'p't News 1,006 ., Boston Baltimore. 7,189 1,051 tic. 183 1,449 2,020 10,801 1,237 Japan Total. 6,346 2,054 131,239 3,165 1,508 13,601 6,063 14,596 1,006 7,317 8,240 6,900 6,063 considerable portion of the Sea Island cotton shipped to foreign ports goes via New York, and some small amounts via Taooma 350 350 Boston and Baltimore. Instead of including this cotton for San Fran.. 1,742 1,742 the week in which it leaves the Southern outports, we follow Total.... 118,990 45,390 72,102 10,340 18,313 2,092 267,227 the same plan as in our regular table of including it when Exports to Japan since Sept. 1 have been 700 bales from actually exported from New York, &o. The details of the shipments of Sea Island cotton for the week will be found New York and 2,092 bales from the Pacific Coast. Ootton freights at iNew York the past wees have been under the head " Shipping News," on a subsequent page. Quotations Dec. 7 at Savannah. For Georgias extra fine, as follows. 18@l8^c; choice, 19® 20c; fancy. 21c. Batur. Moh. Tuts. Wednet. Thurs. fri. Charleston, Carolinas, fine, 22c; fully fine. 23c; fully fine to extra fine, 25c. Liverpoool c. 18®20 18020 18@20 18®20 18®20 183>20 32i* Jute Butts, Bagging, 40* There has been practically no Havre 40* 321* c. 32^ 32V demand for bagging the past week, but quotations are un- Bremen 32i<3 32ia c. 32^-35 32*2-35 32>a 32V changed at 7^c for 1% lbs. and 7}£c. for 2 lbs., standard Hamburg 33 c. 33 33 30 30 30 grades. Car- load lots of standard brands are quoted at 7)^@ Amsterdam 50 50 50 50 c. 50 50 7%c, f o. b., according to quality. Jute butts inactive and Rotterdam 50 50 50 50 50 c. 50 nominal at l%c fcr paper quality and l 50@2 45c. for bagging Reval, v.Br-Hamc. 50 50 50 50 50 50 quality. From Messrs. Ira A. Kip Co.'s circular we learn Do v. Hull...c. 45 45 45 45 45 45 that the deliveries of jute butts and rejections at New York Do v. St. Pet.e. 45 45 45 45 45 45 and Boston during November were 16,520 bales, against 5,762 Genoa 50 48 c. 50 48 48 48 bales for the same month last year, and for the eleven Trieste 50 50 50 e. 50 50 50 months deliveries reached 252,778 bales, against 258,124 bales Antwerp 32ifl 32ia 35 35 ..c. 32ifl 32V in 1899. The aggregate stock in the hands of importers and Ghent, v.Antw'p.c. 41 41 39 39 39 39 speculators at New York and Boston on November 30 was Quotations are cents per 100 lbs. or fraotions of a penny per lb. 100 bales, against nil at the corresponding date in 1899, and * And 5 per oent the amount afloat for the United States reaches 83,000 bales, Liverpool.— By oable from Liverpool we have the follow against 68,640 bales last year. mg statement of the week's sales, stooks, &o. at that port, — &c— . , , & , , THE CHRONICLE. 1180 Xov. 16. week Sales of the bales. which exporters took... Of Of which speculators took. Sales American Actual export Forwarded Total stock— Estimated Of which American— Est'd. Total import of the week Of which American Amount afloat „ 5\000 3.30C 900 49,000 12,000 86,000 3S%000 309,000 121,000 103,000 402,000 3 '5,000 Of which American Kov. 23 Dec. Nov. 30. 1 400 1.200 52,000 5,000 106,0- 491.000 431,000 174,000 151,000 307,000 269,000 of the Liverpool market for spots and futures day of the week ending Dec. 7 and the daily closing pr'oesof spot cotton, have been as follows. The tone - SaVday. Monday. Tuesday. Wed'day. Tfiursd'y Friday Spot. Market, ) In buyers' Harden'g favor. tendency. Moderate Moderate demand. demand. Quiet. Indian corn futures have been moderately active and firmer 7. 43,000 1,300 ?O0 43,000 12,000 93,000 496,000 425,000 9?,000 88,000 3 27,000 264,000 59,000 53,000 2,400 1,900 44,000 7,000 91,000 430,000 373,000 163,000 145,000 3^6,000 345,000 1:45 P. u.\ Quiet. Mid. Upl'ds, 519 32 519 32 519 32 519 32 5*16 5 9 is 6,000 10,000 1,000 7,000 8,000 7,000 500 500 wit h t he near- by deliveries showing the greatest streD gth. The small available supplies, a light movement of the crop, very moderate country acceptances and the poor grading of the new crop, coupled with aggressive operations by the leiding bull operators, had a tendency to make shorts in both the local and Western markets nervous, and they were fairly free buyers to cover their contract?. Daring the latter pare of the week the principal holder of December contracts was a fairly free seller on all advances and this bad a tendency to hold the upward course of values in check. Tne spot market has been firmer, but despite the higher pric-s a fair business has been transacted with exporters. To-day the market was firmer on unfavorable weather in the corn belt for the crop movement and grading. The spot market was fairly active. The sales for export here and at outports were 550,000 bushels. DAILY CLOSING PRICES OF NO. 2 MIXED CORN IH Sat. Mon. Tues. Wed. Cash oorn f. o. b 46 45% 47 46% NEW YORK 7,000 500 500 &exp. Spec. 500 1:45 P. m. Market, M 4 P. . 43% 41% Dec. delivery in elev May delivery in elev Quiet at Easy at •Steady at 2-61 2-64 ad- partially 1-64 6 1-64 dec. decline. I ( Stead}. { ( 1-64 ad- Barely steady at vance. 2-64 dec. Steady. Easy at Quiet. Steady at vance. (ai 64 decline. Barely Barely Quiet but steady. steady. steady. 8-«-> The prices of futures at Liverpool for each day are giver Prices are on the basis of Uplands, Low Middling clause, unless otherwise stated. below, Sat. Dec. 12% P.M. 1. A d. December. Deo. Jan . 5 5 Jan.-Feb.... 5 Feb.-Moh... - Mch.-Aprll...5 April-May.. ,5 May- June... 5 June-July... 5 July Au.it .... 5 Aug Sept... 4 d. 33 30 23 24 22 19 17 14 13 63 5 5 5 r, 5 5 5 5 5 4 ?Ion, Tues. Wed. Dec. 3. Dec. Dec. 4. 1:45 4 1:451 4 1:45 M. P. M. P.M. P.M. P. M. d. 1 d. | d. d. Dec. Fri. Dec. 6. 7. 1:45 4 1:451 4 M. P.M. P.M. P.M. P.M. 4 [ P. d. Tliurs. 5. P. d. ' 315 29 32 5 30 29 5 27 28 5 26 5 27 5 25 2; 5 25 5 22 21 5 22 a 20 195 16516 5 19 5 19 5 17 16 5 14 5 14 5 17 5 17 5 14 14 5 11 5 11 5 14 5 14 5 11 11 5 08 5 08 511511 5 08 62458459 4 59 4 59 4 58 5 29 5 32 5 26 5 26 5 29 5 24 5 23 5 27 5 21 5 21 5 24 5 19 5 19 5 22 5 5 5 5 5 5 5 5 5 5 4 d. d. 29 5 30 2r, 5 27 24 5 25 21 5 22 19 5 20 17 5 18 14 516 d. | d. 5 31 5 29 5 27 5 28 5 26 5 25 5 26 5 24 5 23 5 23 5 21 5 20 5 21 5 19 5 13 5 19 5 17 5 15 5 17 5 14 5 13 11 5 13 5 14 5 12 5 10 C8 5 10 5 1 5 0J 5 07 £8 4 59 4 CO 4 58 4 57 ... :::: :::: :::: :::: :::::::: BREADSTUFFS. Friday, Dec. 7. 1900. decidedly better market has been experienced for wheat SpriDg -wheat flour has had an active sde. Tne business transacted in spring patents in the local market has amounted to fully 50,000 barrels within a range of $4 00@ 4 45, and advices from the Northwest stated that the Minneapolis mills did a mach larger business, part for export. Winter- wheat flours have had a moderate sale at steady prices. Rve flour has had a fair jobbitig sale; prices have beeD unchanged and steady. Buckwheat flour has be^n quiet, tut about steady. The demand for corn meal has continued limited, but prices have held steady. Speculation in wheat for future delivery has continued on a moderate scale only. Daring the first half of the week there was a decidedly better tone to the market and prices made a fa r advance. The end of the liquidation of the outstanding long interest in December contracts removed a depressing factor from the market. Developments in the statistical position were generally of a character favorable for higher prices. The world's shipments for the week were considerably under expectations and below the weekly requirements of importing countries. Holdings of the interior elevators in the Northwest during Nov-mbef increased only 2,500.000 bushels, as compared with 4,000,000 bushels for the same month last year. Stocks at primary p oints for the week exclusive of Minneapolis, show decreases. Some of |the trade are indited to the opinion that from now on the movement of the crop will be very moderate, insufficient to maintain the present large visible supply, which, it is their beli-f is largely milling s:ock. The advices from Argentina also continue to complain of untavorable weather conditions, and some estimates of their new crop exportable surplus were reduced to 37,000,0^0 but-hels. Later in the week there developed an easier tone. The principal depressing factor was continued full receipts at Minneapolis. Cable advices also were disappointing. much-improved demand for flour, however, had a steadying influence upon the market. Today the market opentd firmer on foreign news reacted, but rallied at the close on rumors of an active export business. The spot market was fairly active. The sales for export here and at outports were 225,000 bushels. DAILY CLOSING PRICES OP NO. 2 BED WINTER IN YORK. A. 35% 45% 42% . Fri. 47 47 46% 42% 46% 42% 46% 42% May 36% 35% 36% 36% 35% 36% the Western 34 % J an. delivery in elev 36 delivery in elev 37% 36% 36% 37% 36% 56% 37% 36 36% Oat? for future delivery at market have continued dull, with only small fractional changes in prices. The undertone has been steady. The cash trade has been fairly full, and this, coupled with only a very moderate crop movement and limited country acceptances, has held the market, although there has been some bear selling. Locally there has been a moderately active spot market at steady prices. To-day there was a quiet but steady market. DAILY CLOSING PRICES OF OATS IN YORK, Sat Jfon. Tues. Fri. Wed. Thurs. tfo. 2 mixed in elev 26% 26% 26% 26% 26% 26% *o. 2 white in elev 29% 29% 30 29% 29% 30 DAILY CLOSING PRICES OF NO. 2 MIXED OATS IN CHICAGO. Fri. Sat. Mon. Tues. Wed. Thurs. NEW Rye has held 21% 21% 21% 21% 21% 23% 23% 21% 23% 23% There have been limited sales for 21% Dec. delivery in elev May delivery in elev 23 steady. % January delivery to local dealers. Barley has been quiet and without new features. Following are the closing quotations: FLO DR. Fine $2 20 92 30 Patent, winter.... $3 75 93 Superfine 2 35 •32 45 City mills, patent.. 4 20 94 Extra, No. 2 2 50 92 60 Ryeflour,superflne 3 00 93 Extra, No. 1 2 50 92 75 Buckwheat flour.. 2 10 «2 Clears 2 80 33 35 Corn mealStraights 3 40 33 90 Western, eto 2 25 92 Patent, spring 4 03 34 70 Brandywine 2 35 ("Wheat flour in sacks sells at prices below those lor barrels.) GRAIN. Corn, per bush.— Western mixed. S6%988 81%3-4% No. 2 mixed. Western yellow 76% 3 78% Western white 84% 386% 26 329 Rye, per bush29 335 Western 26%327% State and Jersey flour. ; 44% 42% Thurs. DAILY 0LO8ING PRICES OF NO. 2 MIXED CORN IN CHICAGO. Sat. Mon. Tues. Fri. Wed. Thurs. Dec. delivery in elev Futures. Market, [Vol. LXXI. Wheat, per busn.— o. HardDuluth.No.l JTthernDul., No.l Red winter, No. 2 Hard N. Y. No. 1. Oats— Mix'd, p. bush. White No. 2 mixed. No. 2 white ...... c. c. 931 30 90 70 50 15 30 c. 45%947% 45%»47 45%* 47 46% 348 — 47% 354 » 60 370 42 949 Barley—Western Feeding The movement of breadstuff s to market as indicated in the statements below is prepared by us from the figures colected by the New York Produce Exchange. The receipts at Western lake and river ports for the week ending Dec, 1, md since Aug. 1, for each of the last three years have been : urtrti at— Wheat. Fliv.r. Oatt. BbU.lQeib; BiMh.eoOw BUJY53IS* tliWaoket- . 107,200 71.575 129.600 37.200 159,039' 13,733 883.940 450.416 84.313 22~,0^5 4C4 405 69,123 ... 197 4P.1P5 14.500 11,100 saniH» City. 691 1C8.000 151,550 64.400 27.437 174 245.40-0 2.176.390J | laveland Louli 18.445 11.250 133,000 749,177 7.S00 it. aw.seii)-. 533,550 474,060 94.124 121,660 6.000 1.967.01: 18.701 Jetrolt BuiAMIbi 675.? LP 85,600 tlnneapolli. BorU*. Bui?i.32a>« Corn. B8£M 36.250 17 652 7.800 7- 64,418 158754 .... 60.950 6,768 7,750 .... , A rot.wk.i9oo >sine wk.'99. -ame wk.*9S. Hnct A\H 361.634 436.g'2 873.519 ~4.Sl?.52i 4.133.766 6.401.465 7,955 8,4" 9,546.310 l.S 1.7 2.973.240 • .7,604 127 317 S39.S76 1,4 1.1" 1- 1900 19oV ........•• l>*8 7.896.952 113 5« 109,524,04* 7.6: M3L8S6 145 6X2.-41 66 294.321 68.867 21 70.7d7.174 7M'32.215 67.' 24.21S341 2.300.544 20,121.958 3.147690 5.2-5 7*T ».->0. 10 2 The receipts ol flour and grain at the seaboard :he week ended Dsc. 1, 1900, follow ports for : ; NEW Sat. Cash wheat t, o. b Deo. delivery in elev March delivery In elev.. May delivery in elev Hon. Tues. Wed. Thurs. Fri. 77% 78^ 76 7s 78% 7s% 79H 76 78 78% 7"% 79* 80»* t-0% 79% 80% 79 7s 79% 78% 77% 79% 79% 78% 78% 79% DATLT CLOSING PRICES OF NO. 2 SPRING IN CHICAGO. Thurs. Wed. Mon. Tues. Sat. Deo. delivery in elev 714 704 7u 71% 70% Jan. delivery in elev May delivery in elev 704 73% 71 73% 71% 74% 71% 74% 70% 73% Fri. 70% 71% 74 Fxrur, iltttifti at— *ewTork loiton... Hontroa' ?hiladelpnia Baltimore ilohmoud <«w Orleani* '•woortNewi Norfolk ia.Teaton .'ortland. Total \Vktal, bbU. 2>ufh. 127.570 49.685 6.570 492.575 140.743 1S0.171 40.045 60916 46.124 2,-00 18.8 5 1W.680 11,631 1U2.U4 1\71« 160 OX) S4.OC0 Corn. bush. 1.030,075 324,693 1.030001 Oati, (•_.•<".. but*. 411.200 13S.40J 108.700 r l,6c5 IKC W.S:9 26.903 525.289 40 J 862 WMk * eek 1899 11,836 849.017 490.481 2.-:s 1 2 660 13.645 6 100 5.000 = .s.039 7.SM 80.600 8\749 b7UMl 800.050 Me WW Rt*. bush 12" 24i),lS7 £8,471 8,500 6-.34K 1.6-42.631 2,530.i»55 5.71X801 4.470444 1.0 8.6 7 1,498. tWO y.413 177,659 919.v80 TT.592 ?v74S rlcs • Heoelpti do not include drain passing through New Orieani for fortU* ajru on through bill* of lading. — . . December THE CHRONICLE 8, 1900.J Total receipts at ports from Jan. follows for four years: moo. to Dec. 1 1 compare as bbll 20,200.819 1809 20.216,103 1898. 19,917,689 .bnita 93,334.169 169,886.474 73.185,224 9,831 984 2,648,B48 109,419,247 109,419,847 186.288.1N8 186.288.1H8 87,984.073 87.984.073 12,824,950 6.457.C93 6.457,693 126,953.340 187,752,996 87.875 286 5,664.116 14,125,378 88,908.815 155 169 188 848.365.799 401,954,151 422,370.118 885,509.154 Recent* of flour Wheat. Corn... Oati... Barley. *je.... 18.97. 23,802.230 88 457 489 12,210,316 10,776,346 1181 ited number of lines being opened so far, and there is no reliable indication of what prices will be established at the opening of the new season. Dress goods are dull in most de- and generally in favor of buyers. Domestic Cotton U-oods. The exports of cotton goods from this port for the week ending Dec. 3 were 1,801 scriptions — packages, valued at {134,585, their destination being to the points specified in the tables below : Total drain.... The exports from the ending Dec. several seaboard ports for the Export* from— bush. Mew York Bolton Portland, Me. Philadelphia.. Baltimore NewOrleani.. Norfolk Hewp'rt Newt Montreal GalvestOD bush. 902,986 bush, bbll. New York bush. b ti»h. 41,490 bush. 9,978 16,666 Great Britain Other European China 73.787 17,860 67.653 101.050 637.178 264,188 27,273 119 647 127,892 609,826 Central America South America....... Other Countries. India Arabia Afrloa West Indies 62,767 destination of these exports for the week and since September 1, 1899, is as below — — Flfliir. Osm. Wheat. rExport* for Week Sir.m 8nt. Week Sine* Sent, We Sinct Sett, . Sept. 1 to— . Die. 1 bunh. 676.867 296,513 1.200 1. 1900. bbla. bblt. 1. bole. United Kingdom 138.208 10.398 Continent 20.619 S. AC. America. Br.N.Am. Colo's Other countries 27,155 8.441 10,471 Total Total 1898-99.... 210,192 867.469 —— 1. 1900, buth. — Dec. 1 hush. 1, 1900. buth. 19,030 4,086,908 4.130.767 15,f3»,777 9,660.012 22,092.714 6,932,458 2.881,762 20,110 044 22,2*0 182,013 7,879 22.277 186,007 108,274 9 382 154,800 27,422 240,821 992.110 1,619,062 2.924.237 2,924.237 286.644 286,644 £82.946 304.976 37,011 51,089 Wtit Indies — 22.d33.912 5.818,075 42.9V-.872 80,223.848 5,192,936 65,812 854 The visible supply of grain, comprising the stocks in granary at the principal points of accumulation at lake and seaboard ports, Dec. 1, 1900, was as follows: Wheat, In store at— Philadelphia Baltimore New Orleans Galveston Montreal Toronto 297,000 920.000 76,000 3.000 187,oov 88.mii 723,000 624,009 939,000 29,00*6 428.0CJ 76.000 62,000 ei.boo 29,000 11,620,000 1,872,6*00 8,448,000 699.000 75.000 785.000 81,6.0 252,000 1.000 32,000 28,000 198.000 ioo.ooo 1,433,001 afloat afloat afloat Ft-Wlll'm&Pt. Arthur 1.S95.000 Duluth 5,405.000 189,000 607,000 283.0*00 343.00C 1,829,00*6 12.000 8S.00O 12,000 62,000 98,000 460,000 84,000 "8,000 30.000 216.006 149,000 3O.C00 afloat Minneapolis, Bt Louis Do fail* afloat Milwaukee Do Barley, 888,000 464.000 l,087,oos Detroit Do live, buth. 23,000 3.8.V7.000 afloat Toledo Do Oats, buth. 966.000 25.000 844,000 521,000 535,000 59.C00 2.000 814,000 30,000 71.<m>< Buflalo Do Chicago Do buth. 427,000 60,000 163.00U 733.000 978,000 572,000 7,546.ooo 133.000 1,264.000 624.000 1.594,000 Boston Do Corn, buth. Hew York Do afloat ' 14,796.000 6.175,000 19,000 67.000 15,000 68.UO0 28,000 83.000 15^,000 2,449,000 34.000 afloat Kansas City Peoria Indianapolis On Mississippi Hirer. On Lakes On canal and river. . . 1,469,000 11,000 282,nc<". 24.0C0 2,861,000 125,000 ' 29,0*00 1,000 6C 0.000 66,000 Total Dec. 1,1900* 62,179,000 9.442.000 3,418,000 11,319,000 1,325.000 Total Nov. 24, 1900» 62,262 0C0 8.704.0CO 3.559.000 11,769.000 1,328,000 Total Dec. 2, 1899t 66,778.000 3,910.000 11,713,000 6,185,000 1,383.000 Total Dec. 8, 1898+ 24,098,000 20,369,000 3.838 000 6.546,000 1,022,000 Total Dec. 4, 1897+ 34.836.000 4.760.000 40,950,000 15,487.000 3,563,000 + Includes stocks in private elevators at Milwaukee. •Stock s in private elevators at Milwaukee not included. Notjb.— Beginning July 1, 1899, the New York Produce Exchange has changed its Visible Supply Statement by including stocks at New Orleans, G: ilveston, Ft. William and Pt. Arthur (previously omitted) and leaving out Albany Oswego and Cincinnati, formerly included. ... Total. York, Friday, P. M., Dec. 7, 1900. he general condition of the market has not undergone any material change at either first or second hands during the past week. In the cotton goods division sellers have not been any more pressing for orders than before on the current range of prices, nor have buyers shown any greater disposition to go ahead of near requirements in any line of staple fabrics. In the woolen goods division the tone has continued decidedly dul with irregularity of prices a prominent feature, while silk goods are generally in a depressed condition. The lack of improvement daring the past month has been a disappointment to most sellers. In cotton goods it has not had an adverse effect upon prices, the market in fact showing a higher average than it did a month ago, but the advances have been more on the strength of the market for raw material than the result of actual demand. Manufacturers of nearly all descriptions of cotton goods are complaining that the market prices are below parity with the price of cotton and are slow in accepting orders for goods to be made on prevailing basis. In woolens pressure to sell is seen in most directions, the weather still being temperate enough to hold the demand in check. Woolen Goods. There has been little progress reported this week in the market for men's-wear woolen and worsted fabrics. Re- orders for spring weights have been irregularly distributed and light in the aggregate, and in heavy-weights for quick delivery only small purchases have been made. The market for raw wool ruled steady, but prices of woolengoods still tend downwards and are decidedly irregular where stocks are being pressed for sale in both staple and fancy lines. The weather continues unfavorable for the distribution of made-up garments, and reports of clothing trade con- 924 2 221,495 104 526 77 132 510 3,094 48,199 14,450 28,128 4,438 10,151 39,152 7,185 1,363 379,105 Tickings, plaids, cheviots and other coarse colored cotWide sheetings and tons very firm; demand moderate. cotton flannels and blankets unchanged. Kid- finished cambrics firm but quiet. The demand for fancy prints continues moderate and of average dimensions for staples. Fine printed goods in steady request at firm prices. All descriptions of ginghams continue firm, with limited supplies on hand. Print cloths have been inactive in regulars; price unchanged at 3^c. In odd goods the market has ruled steady but quiet. — Foreign Dry Goods. A generally quiet market is reported in imported merchandise. Dre=s goods are selling irregularly without quotable change in prices. Silks inactive and easy to buy. Ribbons dull and irregular. Linens continue firm with fair demand. Burlaps firm, but little business doing. Importations and Warehouse Withdrawals of Dry Goods The importations and warehouse withdrawals of drj goods at this port for the week ending Dec. 6, 1900, and since January 1, 1900, and for the corresponding periods of last year are as follows: B g o 9 S. 93 «to 2v» *^9 9 g 3 ?> §: Si Ml 2: g> B O M « «* : 0i ; p. © : J • • « I 1 * ! • a • . • : ST • « J © C5 © CO J"* 1 I to co com if Ol ! I I I J I : 8» i • e IB toeoocnto 00O<)*««3 • ; ft « » §» . O 1 , OS *>.© toco O© Oo'rO to © GO.f N) CO<l cGO> ©to .-.^OD*. CO if CO iom CO'-' p.q 00© • CO to I "co'to COtO toco M«q 2 MO CO ota M M ! "into *«• | ' CO to CO Cn if i* ©*• 1 Mtacn cObO© <HD©C0m Wifkcoo^j Hua> M<J <iao©if roib. — ! CO*. O-l coo 00 co to WSQCfflO C0»4if tocn ao*. ©if © coifM*.© Cnoo©© ©if — I •j I CO q COM ©o ~» ta M O 3; Cn O CO en if © en <jmoco<i oen oh» o"m"'oen-' ^i OCCbOOCO tOOUKltO tOlf*. COvI ©<I©C0O 00© MM— o O CO «*» M CM © oco «<| CO j I I o oo o c m <,oom p toe»M bo*. © to © CO C; tooo o 8,194 -q CO M m s»3 C^ TO • ^ O"*0o1o CC*.©-J^^ ©? tooooo *> £!;*> ©CO if 1 00 ^aViboM ©OOlf CO coco-joo I p co co p M m O i-i m co © i i MCOtO MWl CCV>~ If p cooo'coo tototoroeo^ OWpv) *X©M I If I C ffl© d<IOOCDO I COQOOCnif { cnMMM i ©IfM-coen I I enocoooM ^ien<io© © ! e"if coen o^i ©*. <i"-5 en© Ml CHOI 05 . j | i i COM oen 00© toto (0© "oo"cn o«j cs*» O pppM CO CT. CJ> Om m wcoooop M^f vfenco cotoen-JM tOMCn-^JM topcopp MOtOOX •a*. ao^-M jf to cop to i --njs en © CO^JOOOOO '<t i ex en oo co*. ' ! too ocoif c -I if MCO to Pi PfPi^S*3 mm Is a OS 00 to CDWCOOm^ © Jf Op if I jf>. -ace in "go cs «j»oa<> oo 1 p f^&PG) o"co'co">-''to ooencoto<i oo'en CO If o "to 00 O CO O © © CO to © M O -J tooo *> ! i i MtOCKif COCO Ul-l^J co y> o O i 00 <l cn-J cn ©M <I en co if if co enenifoo tO'O I CO~4 en if en en MpCJif p 01 ft- | 10 jstocopto cocn*.lao oo to t0. W'CD0<1*M 11.139 CO M ©Op©© oo<Tcnuicn »j co CJIO ©MO J ©oco MS P&-M mm MCO *> tOM . S T* MO— pp* ! CO© top M o to CO to M tO © crnf co<j -J © pec © <l 00 O On-* <1 CntO « . MMif co M^lOOOO If *» 1 oo I I nr 1 ! (t o — , 1 ^t-' a • ooowooui M TO © p to f f s; Si H 9 ^'J-' co oo ten- ooo co ta *- en 00*a>CO*^ C0 r <?. co j> ta 00M pp SMM9M 'co'o coo^o'to <1W if I • • I j ©CO If© If© WM WW . it. "en OiWMpp P© CnOICcenM ob la to cole co OCO M M en en C* i I | I » to to oocn • • F3 > .q#.«3»30i ©tO MCO OSMOOlfVl 00 CD 03 • . -15 COtOMODM CP M fn CO O <1C0©>-© CO to p<ip to en i—rt i S • CO <ito to<i m eo m co co p • 6 S2 OtOCCMCO oco o CD < • c tOCO CO © • 9 a; f • I en © : . Si 2: ££ 2 ,© v © : f? CSoE l-»M • us , ditions are frequently unsatisfactory. Sellers are holding back on new heavy-weights for next fall, an unusually lim- 1. The value of the New York exports for the year to date haa been $12,809,234 in 1900, against $13,998,164 In 1899. The chief feature of the cotton goods market in staples this week has been the purchase of about 1,000 bales It is understood, however, of brown sheetings for Chi', a. that this is a special transaction and cannot safely be taken as an indication of a revival of general buying on China account. The home demand for all kinds of brown cottons has been indifferent at irregular prices for spot goodB; sellers firm on forward contracts. Bleached cottons are firm, with a moderate business in progress. Denims are scarce and above buyers' ideas in most quarters, except for stocks on hand. THE DRY GOODS TRADE. New 1.889 285,694 Mexico 210.192 867.469 Since Jan. 12 661 9 261 651 218 Week. 2,218 1,536 140,887 12,743 27,569 4.265 28,686 2,981 11,416 44,557 8,836 1,801 11.631 19.680 2.115 10,604 9,418 1899. 3. Week. Since Jan. 1 The Dec. Dec. 689 11 992,110 5,613.075 time '99.. 1,619.062 5.192.936 week and tine* 1900. to' 49,990 125.660 6H.349 200,500 60,000 69,000 75,998 30,316 11/-36 80.R83 16.3H4 249.187 460477 118,483 88.471 47.972 162.0no 1.617,524 »'< 0,860 lfl.000 461,661 201.200 571,661 402.362 34,000 69,268 257,703 104,0(0 Total week.. Same week 1900, are shown in the annexed statement: Peat, Rye, Oat* Sarin , Hour, Wheat. Corn, 1, o o»'oVo'V© Mif o-acn e" oo cxxj oo is CCS ©? ©s B ^ B5 a >! . THE CHRONICLE. 1182 State m® Dtfhutment, City MUNICIPAL BOND SALES IN NOVEMBER. While in amount the aggregate of the new bond November runs above the average for month in other years, the number of munici- issues for that palities putting bonds on the market was extremely small, and if we should except the sales of New and three or four other points, ihe remaining total would be quite insignificant, rhere were only twelve places issuing bonds in amount )f $100,000 or over, and the aggregate of these twelve n itself is over 7f millions, leaving but 2£ millions iTork City, Buffalo, the is sum of all the other sales combined. According to our records, the total bonds marThis total keted during November was $9,956,685. las not been exceeeded by any November except that for 1896, when for a special reason the sales were of In October 1900 the figures jxceptional magnitude. were $16,421,185. The number lumber of of municipalities emitting bonds separate issues and 136, and the made during November This compares vith 121 and 148 for October 1900 and with 172 and L900 were 112 L98 for November respectively. 1899. Prices have been exceedingly good and some excep- that respect have been reached since First among these, of course, were the tional figures in ;he election. lales by the city of New York on November 20 and On the earlier day $50,000 3| per cent 40-year 3onds were sold to Eugene Littauer of New York on a jasis of about 3*014 per cent, while Vermilye & Co. 81. ind Harvey Fisk & Sons, also of New York City, took the remaining bonds offered, namely, $4,783,965 per cent 40-year and $500,000 3| per cent 20 year fy jonds, on a basis of about 3*02 per cent. On Nov- jmber 21 the $30,000 3 per cent 40-year bonds were >id in by Allen, Sand & Co., New York, on a 2*972 These sales are exceptional and rank per cent basis. >n a better basis than any obtained for several years, md a basis which has, in fact, been but rarely exseeded by this city. The city of Cincinnati, in selling its issue of $150,- )00 3| per cent 10 20-year (optional) bonds to Feder, Flolzman &. Co., Cincinnati, on a basis of about 2*886 on the optional date), received a price while not a record for that city, may be viewed vhich, vith considerable satisfaction by the taxpayers. The city )f Cambridge, Mass., in disposing of bonds on a 3*078 per cent basis, very nearly approached its record, rhe purchaser was Estabrook & Co., Boston. Another jity in Massachusetts to benefit by the high priceg prevailing was Newton, which place on November 30 lold $45,000 3 per cent 25-year bonds to the Shoe & Lieather National Bank of Boston on a basis of about 5*994 per cent. This is a far lower basis than ever lefore realized by that municipality. In the following table we give the prices which were per cent (figured laid for November loans amount of $9,299,982, The aggregate of sales to the ssued by 84 municipalities. [Vol. LXS2. Page. Location. 1081. .Belle Fourche Rate. (S. Son. Diet. No. 1 1081. 1030. 980. 1030. 1132. Maturity. 6 1920 .Belvidere.IU 6 .Benton Co.. Ind 6 1902-1910 1905 .Bryan, Texas .Bucyrus, Ohio 4 6 19021905 .Buckland (O.) Special Sch. Diet 1030. .Buffalo, N.Y 1030. .Buffalo, N.Y 5 103(i. .Buffalo, 1925 3** N.Y 1183. 1082. 1082. 1082. 1183. Amount. Price. D.) 3ia Butler Co Ohio 413 Cambridge, Mass 3ifl .Cambridge, Maes 3>* Cambridge, Mass 3ifi .Canyon Co. (Ida.) Sch. Dist. No. 17 6 1183. .Canyon Co. (Ida Sch. Dist. No. 47 6 4i« 1132. Cape May, N. J 1030. Champaign Co., Ohio. 5 3i2 1132. .Cincinnati, Ohio 1030. Cleves, Ohio 5 1184. Delaware, Ohio 5 1082. .Duluth, Minn 4 1030. East Cleveland, Ohio. 6 , $5,000 101-90 06-03 5,000 5,000 110 6,000 100-166 2,000 10505 ) 1920 1940 2,400 10353 450,000 10354 200.000 103-56 10,927 105-94 15,000 106-20 43,000 ) 51,000 V 10714 50,000) 1909-1912 1,200 1100 1902-1909 1901-1920 1901 1920 1920 1903-1910 1910 ) 981. 1082. 1133. 1184. 1082. 1082. 1031. 1031. 1184. 1031. 1082. 1133. 1133. 1133. 1082. 1031. 1031. 1082. 1082. 1031. 1133. 1083. 1133. Franklin, Penn Faribault, Minn Gainesville, Ga Gloucester Co., N. J.. 3i« 4 4k .Hendricks Co., Ind.... Highlands, N. Y Jefferson Co., Ohio... 1910-1919 1902-1925 25,000 50,000 103 1910 1903 25,000 101-288 40,0 n 10014 1902-'i919 1906-1908 1925 1901-1905 1920 1950 1901-1910 fl90E-1910 1901-1920 1920 1920 313 4 Lawrence, Mass 313 Lawrence Co., Miss. 6 Lee Co., Iowa 3% Lexington, Mass 4 Luverne, Minn 5 Lynn, Mass 4 Mamaroneck, N. Y. .. 3-90 . , 1927 1905-1929 5 3ifl Y 1916-1931 4 5 Y Conn 1905- L912 U91O-1920 Jefferson ville, Ind.... Lanslngburg, N. 1930 1901-1910 Johnstown, N. Killlngly, 1910-1920 1901-1910 1901-1910 1930 1901 11905-1920 1930 4 3 35 1930 Un. Sch (N. Y.) Dist. No. 1. 3i2 Mansfield, Ohio 4 1031. Marshall (Mich.) Sch. Dist. No. l 1083. Mt. Vernon, N. Y 1083. Muscatine. Iowa 4 1185 Newton, Mass 1084. New York City New York City sues) New York City New York City 1084. . 3^ 5 3 Norwood, Mass Ogden Twp. Kan , 50,0 JO 3** 1940 1920 1940 4,783,965 3ifl 3 5 318 1901-1910 4 4 1905-1916 1920 1906 1907-1908 1901-1910 1902-1905 1901-1920 5 4^ 1084. Ramsey Co., Minn 1134. .Red Riv., Atchafalaya 3i2 (La.) .So. 3-40 8 6 4 Bayou Boeuf Levee Dist 5 .Rock Island, Salem, N. J 100,000 45,000 1940 .Ohio State University. .Oneida, N. Y Pelican. Wis .Port Gibson, Miss Ramapo (N. Y.) Sch. Dist. No. 1 and '1925"" •4H Sch. Dist. 1136 10051 100-53 100-18 100-534 101 102-31 98 112-57 115-93 100 101-74 105-30 103-15 99 10315 102-59 121162 101-67 107-38 100-909 112639 111-75 117-501 100 101-002 97-50 100108 11125 (8 is- 1084. 1084. 1031. Niles. Ohio 1133. .North Adams, Mass.. 1133. North Braddock (Pa.) 1031. 1084. 1085. 1186. 1085. 1135. 1032. 1032. 1085. 1135. 1135. 1135. 10217 105-303 104-41 105-52 Mamaroneck 1133 1133. 1185. 1133. 931. 1134. 1031. 1031. tlOO 102-50 1,200 35,000 13.320 150.000 1,257 5,250 99,000 8,500 14,000 37,000 20,000 30,000 5,000 16.000 50,000 100,000 8,618 9,000 6,000 100,000 9,793 125,000 20,000 25,000 16,000 550,000 10,000 10,000 25,000 2,000 1901-1935 4 5 4 Gowrie, Iowa Hancock Co., Ga Haverhill, Mass Hempstead. N. Y . 1905&1910 111 Omaha, Neb .Sparta. Ill Springfield, Ohio .Stewart, Minn .Thief Riv. Falls.Minn. 5 4 6 5 6 5 5 Toledo, Ohio .Toledo O. (9 issues)... Trenton, N.J Trenton, N. J .Two Harbors, Minn.. Van Wert, Ohio 5 4 10,000 100,000 1950 1905-1912 1920 250,000 40,000 14,500 U905-1910 19011910 1910-1919 1915 981. .Viroq.ua (Wis.) Sch. Dist 1033. .Wahoo, Neb 1136. .Washington 1085. .Washington (Pa.) Sch. Dist 1930 3*4 4ia 413 *1903 1910 1930 1910 1910&1915 1902-1911 1901-1912 3ifl 3ia 1038 .Wauwatosa, Wis 1186 .Waverly, Ohio 4 6 1085. .Winchester, Mass..... 981. .Yonkers. N. Y 1136. .Youngstown, Ohio.... 312 3*4 5 1922-1923 1901-1920 1916 1909-1910 1920 1902-1904 Total (84 municipalities, covering separate issues) 111-07 107-177 100-917 102-32 100 51,500 102-91 4,000 112-56 3,700 100-70 30,000 108-50 11,340 100 4,000 10010 12,000 106 666 1901-1910 1920 4 3ia 3ia 500,000 30,000 4,300 12,500 70,< 00 2,000 17,050 7,000 4,500 100,000 106,016 52,646 50,000 5,500 19,000 102-80 103-02 108521 102-089 105-75 103-429 ICO 112-27 102-91 104 103-825 100-74 103'31 108-279 103-418 103-37 21,000 104-49 12,000 100 65,000 100 6,500 102-50 20,0i>0 103204 1,000 10,000 25.000 115 103055 105032 500 10316 108 Aggregate of sales for whloh no price has been reported (28 municipalities, covering 28 separate issues) $9,299,982 656,703 Total bond Bales for [November 1900 $$9,956,685 Average of dates of maturity, t 8ubJeot to oaU in and after the earlier year and mature in the later year. §Not inoluding $407,500 of temporary loans reported and whioh do not belong in the Ust. 1T Taken by sinking fund as an investment. J And other considera* tions. In the Chronicle of Nov. 2 1900, page 928, a list which no price has been reported is $656,703, and of October bond sales amounting to $16,390,685 will ;he total bond sales for the month $9,956,685. In be found. Since the publication of that statement ;he case of each loan reference is made to the page of we have received the following additional reports. ;he Chronicle where a full account of sale is given. !or Additional October Bond Sales. Maturity*. Amount. Price. November Bond Location. L081 .Akron, Ohio Page. L132..A.mboy, Minn L030..Attleborough, Mass.. 980. .Batesvllle (Ohio) 8.D. L 081.. Beaumont, Texas Rate. 5 6 3>* 6 5 Sales. Maturity. 1905 1920 1902-1912 U920-1940 Amount. Price. $6,500 10477 4,500 102-49 30,000 105-389 4,000 106-55 115,000 10970 Page. Location. Rate. 1082. .Lincoln Co. (Minn.) Sch. Dist. No. 64 5 981. .Portsmouth, Ohio 4 1032.. Salem, Ind 5 1915 U905-1915 Total additional sales for Ootober $3,500 21,600 5,500 $30,500 103 51 10149 103 — —— — December : THE CHRONLCLE. 8, 1900.] These additional loans will make the total sales (not including temporary loans) as reported for October 1900 amount to $16,421,185. — Constitutional Convention. The House of the State Legislature has passed a bill calling for a Constitu- Alabama. tional Convention. Chicago, 111. -City Debt Limit.— Judge Chetlain, in the Circuit Court on December 1, granted an injunction restraining the city from issuing any more bonds until the present indebtedness has been somewhat reduced. The suit was one instituted by Eugene H. Fishburn to restrain the city from issuing $686, 000 bridge bonds, he claiming that, if issued, the city would be beyond its limit of indebtedness, which is 5# of the value of the taxable property. The whole case hinged upon the construction to be put upon the constitutional limit— whether it meant 5% of the assessed valuation, as contended by the plain tiff (or, under the new revenue law, one-fifth of the full valuation,) or whether, as contended by the city, it meant 5% of the full value at which the property is supposed to be listed. The city assailed the constitutionality of Section 18 of the new law, which provided that " one- fifth value of all property so ascertained (meaning the full cash value at which the property is supposed to be listed) shall be the assessed value for all purposes of taxation, limitation of taxation and limitation of indebtedness prescribed in the Constitution or in statute." Judge Chetlain in his decision upheld the validity of this section. Referring to the city's contention that the concluding paragraph of Section 18 was void because it violated that clause of the Constitution which says " No Act hereafter passed shall embrace more than one subject and that shall be expressed in the title," the Judge said ' ' : admits of serious doubt as to whether that portion which relates to the limitation of municipal taxation and of municipal indebtedness legitimately pertains to the assessment of property. But, observing the well-kriown canons of constitutional construction, which require of a lower Court to dissolve all doubts in favor of the constitutionality of an Act of the 1 egislature, I shall hold that the basis for limitation of municipal indebtedness bears reasonable relation to the subject of taxation and assessment of all property for muIt nicipal purposes. that an appeal will be taken at once to the Sueffort will be made to bring the case before that tribunal at its December term, Cleveland, Ohio.— Indebtedness Inside New lork Debt Limit.— We are advised by Chas. P. Salen, City Auditor, that the city is once more within the limit of indebtedness as prescribed by the savings bank la ,v of New York Statenamely, 1% of the valuation for taxation the water debt and sinking funds being deducted from the debt. According to the figures given us by Mr. Salen, the total debt of the city on Dec. 1, 1900, was $15,083,295, while the water debt and sinking fund aggregated $4,747,746 97, leaving an indebtedness of $10,335,548 03. The assessed v luation for 1900 is $149,769,420, and 7$ of this valuation is $10,483,859 40, leaving the city $148,311 37 within the limit. Under the Cleveland debt limit the net reserve is $1,285,076 37, the cify under the Ohio laws being permitted to deduct $1,136,765 special improvement notes in addition to the water debt and sinking fund. Covington, Ky. Bond Litigation. Suit has been instituted in the United States Court at Covington to enjoin the city from selling the $75,000 4% 20-year electric-light bonds advertised for sale on Monday next. The suit was brought by Charles H. Shaw, receiver of the Suburban Electric Co., who claims that the company has the exclusive franchise for furnishing light in the city until 1907. temporary injunction has been granted and the case will be heard in It is stated preme Court and that — — A May, 1901. Denver, Colo. Bond Litigation.— Suit has been instituted in the United States Circuit Court of the District of Colorado to prevent the delivery of the $4,700,000 water bonds sold early in October to Denison, Prior & Co., Cleveland. It is stated that the city has already received payment for $100,000 of these bonds. ——— — — 1183 48 to 147, inclusive, and 60 bonds of $500 each, Nos. 201 to 260, inclusive, aggregating in all $44,400. Tlie official notice of this bond call will be found among the advertisements elsewhere in this Department. Bond Call.— Notice has been given by Cook, City Treasurer, calling for payment Jan. 1, E. W. 1901, at the fiscal>gency of the State in New York City, the following bonds Plattsmouth, Neb. $26,000 funding bonds, dated June 16, 1881. 40,000 Omaha Southern Railway aid bonds, dated May 1, 1890. 1890. 10,000 Omaha Southern Railway aid bonds, dated July 21,000 refunding bonds, dated Aug. 1, 1886, issued to Geo. H. Kearton. i , The official notice of this bond call will be found Bond Proposals and Negotiations week have been as follows —A decision was recently in a suit brought by John Christy to test the validity of the $99,000 4,% 30-year gold improvement bonds sold on Nov. 19 to the Commercial Investment Co. of Duluth. The Court holds that these bonds are valid. It is stated that the case will be taken to the Su- preme Court. — thii : Adams, Jefferson Connty, N. Y.—Bond Offering.— Propobe received until 12 M., December 17, by Fred. B. sals will Waite, Village Clerk, for $11,000 water-works-improvement bonds. Securities will be sold to the person or persons who will take the bonds at the lowest rate of interest, which must not exceed 3^. They are in denomination of $500, dated Jan. 1, 1901. Interest will be payable semi-annually at the office of the Village Treasurer. Principal will mature $500 yearly on July 1 from 1905 to 1926, inclusive. A certified check for 5$ of bid, payable to H. H. Sias, Village Treasurer, will be required, Bonds are issued under authority of Section No. 129, Laws of 1897, and were voted at the election held Oct. 20, 1900. Allegan, Mich. Bonds Authorized. The Village Council has authorized the issuance of the $8,000 park bonds voted — at the election held Oct. 23, 1900. Securities are in denomination of $1,000. Interest will be payable semi-annually at the rate of 4£ and the principal will mature $1,000 yearly on January 1 from 1910 to 1917, inclusive. The date for the sale of these bonds has not yet been determined. Avalon School District, Los Angeles County, Cal.— Bonds Voted. At an election held November 23 tbe issuance of $5,000 school bonds was authorized by a vote of 63 to 0, Avondale, Ala.— Bond Bill Passes House,— The House has passed House Bill No. 337, which permits the issuance of $25, COO improvement bonds. — Bessemer, Ala. Bonds Proposed. —This place seeks lative authority to issue $85,000 sewer, bonds. legis- paving and sidewalk — Boston, Mass. Loan Bill. The Board of Aldermen on 26 passed a loan bill of large proportions carrying items aggregating $5,568,900. The bill must also be passed by the Common Council before it can become a law. Bronson and Bethel Townships School District No. 1, Branch County, Micb. Bond Offering. This district will sell at 2 p. M., Jan. 2, 1901, in Bronson, an issue of $10,000 5% bonds. Securities are in denomination of $1,000, dated Feb. Interest will be payable annually at the Exchange 1, 1901. Bank of Bronson. Principal will mature $1,000 yearly on February 1 from 1902 to 1911, inclusive. A certified check, drawn without conditions for 10$ of the amount of bonds bid for, must be deposited by bidders. The above issue will represent the bonded indebtedness of the district. The assessed valuation is $588,780 and the real value i3 estimated at $1,000,010. The population is given as 1,500. Brookline. Mass. Loan Authorized. At a recent town meeting the Treasurer was authorized to borrow $50,000 for the payment of land damages in widening Boylston Street. Butler County, Ohio.—Bond Sale.— On November 30 the $15,000 <%% refunding bonds were awarded to Rudolph Kleybolte & Co., Cincinnati, at 106 "20. Following are the bids R. Kleybolte & Co., Cincin. .$16.930 00 Denison, Prior & Co.. Cleve. .$16,713 26 Oglesby-Barmitz *_o., HamilFeder. Holzman & Co.. Cin.. 15.711 00 ton 15,687 00 16,90000 W. J. Hayes & Sons, Cleve. G. A. Feraald & Co., Boston. 16.835 60 Second Nat. B'k, Cincinnati. 15.576 00 15,625 00 seasongood & Mayer, Cincin. 16,835 26 P. S. Briggs & Co.. Cincin Lam preen t Bros. Co.. Cleve.. 15,756 00 Miami Valley Bank, Hamil'n. 15,60u 00 Pal son. Leach & Co., Chic. 15,716 00 First Nat. Bank, Circleville.. 15,475 00 New 1st Nat. B'k, Columbus.. 15,714 00 Securities are in denomination of $500, dated Dec. 1, 1900. Interest will be payable January 1 and July 1 at the office of November — — : . . Duluth, Minn. Bonds Valid. handed down in the District Court among the advertisements elsewhere in this Department. . .. the County Treasurer. Principal will mature $2,000 yearly, beginning Jan. 1, 1903. any on County (Idaho) School District No. 17.— Bond Sale. This district, located at Nampa, has sold au issue of $1,200 &% 9 12-year (serial) bonds to the Chase National Bank of New York City at par and blank bonds. Securities are in denomination of $300 and the interest will be payable semiannually. This is the first issue of bonds, we are advised, Iowa.— Constitutional Convention Defeated. An error has been discovered in the official returns of the vote on the question of holding a constitutional convention whereby the proposition, instead of carrying by 448 majority as at first reported, was defeated by 555 votes. Santa Fe Connty, N. M.— Judgments Against County. The following dispatch from Santa Fe, dated November 22, made by this district. is taken from the St. Louis " Globe Democrat :" Canyon County (Idaho) School District No. 47.— Bond Probate Clerk Ataoslo Romero to-day recorded judgments against the Sale.- On November 27 the $1,200 Q% 5 and 10- year gold Board of County Commissioners of Santa Pe County for $60,926 L2 and $74.358 17, respectively, in favor of Bird S. Coler and Elverton Chapman of New bonds were awarded to L. C. Rice of Boise at par and blank York. These judgments represent interest due on bonds issued by the county. bonds free of charge. The only other bid received was one See Chronicle, V. 71, p. 303; V. 70, p. 242. of 100-83, made by R. V. Montague & Co. of Kansas City. Cape May, N. J.— Temporary Loan. The City Council on Dec. 4 borrowed $21,000 in anticipation of the collection of t — — — Bond Calls and Redemptions. taxes. Carson County, Texas.— Description of Bonds.— The $15,Nebraska City, Neb.— Bond Call— The City Treasurer has called for payment Jan. 1, 1901, at the State fiscal agency in 000 court-house and jail bonds recently authorized will be interest. New York City, refunding bonds, series of 1883, dated Nov. in denomination of $1,000 and will carry are advisedThey will be subject to call after five years. We that 145 bonds of $100 each, Nos. 1 to 45 and the bonds will probably be sold to the State. 1, 1883, as follows H : — — — — — —— — THE CHRONICLE. 1184 Central Falls, R. I. Loan Authorized.— The Finance Thompson, Tenney Committee of the City Council has voted to authorize the City Treasurer to borrow $38,000 to pay bonds and notes about to become due. Christian County, 111.— No Bonds to be Issued.— stated in the Cheonicle November 17 that this county had voted to issue $75,000 court-house bonds. We are advised, however, that no bonds will be issued, as the vote of the people was to pay tor the new court house by direct tax. Cincinuati, Ohio.— Bonds Authorized.- Oa November 30 the Board of Water Works Commissioners passed a resolution to issue $1,000,000 3% 20 40 year (optional) bonds. Of these bonds $700,000 will be in denomination of $500 and $300,000 of $U0 each, all dated Feb. 1, 1901. College Hill, Ohio.— Bond Offering.— Proposals will be received until 12 m., Jan. 14, 1901, by Sreeland R. Strong, Village Clerk, for $10,000 Z%% 30 year judgment bonds. Securities are in denomination of $500, dated Jan. 14, 1901. Interest will be payable semi-annually. Authority for the issuance of these bonds wiil be found in Section 2701, Revised Statutes of Ohio. Collins, Covington County, Miss.— Bond Offering.— Proposals will be received until Jan. 1, 1901, by the Mayor, for $2,500 1% school-house bonds. Securities are in denomination of $100, dated Jan. 1, 1901. Interest will be payable annually at the office of the Mayor. Principal will mature Jan. 1, 1906, but bonds are subject to call before that time. We Colorado City School District No. Colo. p. M., —— 1, El Paso County, Bond Offering. — Proposals will be received until 8 December 18, for $21,000 5% school house bonds. Se- curities are in denomination of $1,000, dated about Feb. 1, 1901. Interest will be payable semi annually at the office of the County Treasurer or at the Chemical National Bank, New York City. Principal will mature in 15 years, subject to call after 5 years. I & Vol. LXXI. New York City, at 102-311Crawford, interest basis of about 3-534$,, Following are the bids 101376 Thompson, Tenney & Crawford, Spitzer & Co.. New York 102-311 Turner A. Beall. New York.... 101375 New York 101-16 Sailer & Stevenson, Phila 102-14 Edw. C. Jones <S Co.. Phila 100 51 Jno. D. Everitt & Co.. N. Y. ...102133 Jose, Parker* Co., Boston 100*00 E. D. Shepard A Co., New York.10202 8. A. Kean. Chicago 100 00 W.J. Hayes & Sons, Cleve 101536 J ohn Estlack (for J2.B00) 100-CO Farson, Leach & Co.. N. Y 10161 Jacob Gunther (for *2,O0O) an : - Greenville, Butler County, Ala.— Bond Offering.— Propobe received until 8 p. m., December 20, for $45,000 5% 30 year gold water- works bonds. Securities are in denomination of $1,000, dated Jan. 1, 1901. Hamilton, Ohio. Bond Offering.— Proposals will be received until December 17 for the $3,000 4# 1-6-year (serial) fire-engine house bonds voted at the recent election. Securities are in denomination of $500, dated Jan. 1, 1901. sals will Hanford, Kings County, Cal.— Bonds Voted.— On November 20, by a vote of 352 to 108, this city authorized the issuance of $50,000 6% 1-40-year (serial) gold sewer bonis. Securities will be issued in denomination of $250. Interest will be payable annually at the office of the City Treasurer. Harrisburg (Pa.) School District.— Bond Sale.— On December 5 the $32,000 3% 20-year coupon bonds were awarded to local investors in small amounts at par. For description of bonds see Chronicle Dec. 1, p. 1133. Hendricks Connty, Ind.— Bond Sale. This county has — sold an issue of $8,618 road-improvement bonds to Campbell, Wild Co., Indianapolis, at 101 "74, Jasper, Ala. Bonds Authorized by Legislature. Senate Bill No. 34, authorizing the issuance of $15,000 school house bonds, recently passed by the Senate, has also passed the & — House. Jefferson County, Ala. Bond Bill Passes House.—Bonds amount of $500,000 for sanitary purposes are permitted by House Bill No. 361, which has passed the lower body of to the the State Legislature. Columbus, Ohio.— Bonds Authorized.— The City Council Loan Bill Passes House.— House Bill No. 236, permitting has passed an ordinance providing for the issuance of $4,500 loans aggregating $37,500 for the use of the general fund, has Divoise Street improvement bonds. passed that body. Cuyahoga Falls, Ohio.— Bond Offering.—Proposals will be Klliiugly. Conn.— Bids.— Following are the bids received received until 12m., December 24, by C. A. Weidner, Corpo- November 26 for the $125,000 3%% 20 year gold bonds ration Clerk, for $45,000 5% water bonds. Securities are in 102*59 Estabrook & Co.. New York. ...101-51 denomination of $1,000, dated April 1, 1900. Interest will be Mason, Lewis & Co., Boston 101-51 W. J. Hayes & Sons. Boston.... 102-275 Jose, Parker & Co.. Boston. 102-27 The Norwich Savings Society, payable semi-annually at the Society for Savings Bank, C. P. Phelps & Co., Boston 102'13 101 376 Norwich Benjamin Fisher, Boston Cleveland. Principal will mature one bond each six months M W. Harris & Co., New York. 101-854 Farson, Leach & Co., Boston. ...101*12 from Oct. 1, 1912, to Oct. 1, 1934. Authority for the issuAs stated last week, bonds were awarded to Mason, Lewis ance of these bonds will bs found in sections 2835, 2836, 2837 & Co., Boston, at 102*59. and 2837a, Revised Statutes of Ohio. Landerdale County, Ala. Bonds Authorized by LegislaDelaware, Ohio.— Bond Sale.— On November 24 the $5,250 ture. — The Senate has acted favorably oa House Bill No. 158, 5% 1 10-year (serial) street-improvement bonds were awarded of $40,000 court-house bonds. to The Lamprecht Bros. Co., Cleveland, at 105*52. For de- authorizing the issuance Ludlow, Mass.— Bond OJ)ering.—A. H. Bartlett, Town scription of bonds see Chronicle Nov. 3, p. 930. school house Dodgeville, Wis.— Bonds Voted.— At the election he]d Treasurer, asks for proposals for the $20,000 November 27 the issuance of $i,O0O park bonds was author- bonds authorized by the town on September 15. Securities will be issued as either coupon or registered bonds of $1,000. ized. Dothan, Ala. Bonds Authorized by Legislature. Senate Interest will be at a rate not exceeding 4%, payable semi-anPrincipal will mature yearly on January 1 as folBill No. 13, authorizing the issuance of $30,000 bonds, which nually. lows $2,000 in 1903 and $3,000 trom 1903 to 1908, inclusive. previously passed the Senate, has also passed the House. Eastchester (Town), Westchester County, N. Y.—Bond Bidders are requested to state rate of interest at which they Sate.— On December 5 the $9,000 4*2 highwav improvement will take the securities, they to furnish the blank bonds free bonds were awarded to Geo. M. Hahn, New York, at 1 13*23. of charge to the town, McPherson, Kan.— Bond Contract.—This city has entered Following are the bids into a contract with L. A. Bigger of Hutchison, Kan., to reGeo. M. Hahn, New York 11823 106-87 E. S.Bank fund within six months an issue of $32 000 railroad aid bonds, J no. O. Everitt & Co.. N. Y 112*06 Jose. Parker & Co., $5,000. .@106*ll Thompson, Tenney & Crawford, Boston 4,000... @ 105*98 with new securities bearing 5% interest and maturing in 30 New York 1 12644 Westchester Co. Savings Bank.l0i*23 years, subject to call after 20 yeais. Seymour Bros. & Co., N. Y 11 run R. Klevbolte & Co., New York.. 102-69 Walter Stanton &Co.,N. Y 109*«5 W. R. Todd & Co., New York... 10000 Maiden, Mass.— Temporary Loan. This city has negoW. J. Hayes & Sons, Cleve 106*72 tiated a six-months' loan of $150,000 at 3'24£. Loan was Securities are in denomination of $1,000, dated Dec. 1, 1900. made in anticipation of the collection of taxes. Interest will be payable semi annually and the principal will Marlborough, Mass.— Loan Authorized. The Council has mature $5,000 Dec. 1, 1927, and $4,000 Dec. 1, 1928. authorized a loan of $15,000 in anticipation of the collection Elberon (Iowa) School District.—Bond Ofiering.— Pro- of taxes. posals will be received until 3 p.m., December 10, for $5,000 Marshalltown (Iowa) School District.— Bonds Proposed. : . . . — : : ) . . ) — — b% school-bouse bonds. Securities are dated Dec. 1, 1900. —This district will shortly i-sue $12,000 refunding bonds. Interest will be payable semi-annually at the Bank of ElMelette, S. Dak. Bonds Voted.— At a special election held beron. Principal will mature one bond yearly, all being recently this place voted to issue $3,000 bonds for an artesian subject to call after five years. well. Floyd County, Ga. Bond Offering. The proposition to Melrose, Mass.— Bond Ordinance Vetoed.— The Mayor has issue $69,000 bonds carried at the election held Dec. 1, 19 0. vetoed the ordinance recently passed by the Board of AlderThese borjds will be dated Jan. 1, 1901, and will mature men providing for the issuance of $100,000 surface-drainage $6,000 yearly 1921 to 1928 and $7,000 yearly 1929 to 1931, in- bonds. clusive. They will be certified to by the United States MortMiddlesex County, Mass.— Bond Offering.— Proposals will gage & Trust Co. of New York City. Proposals for $59,000 be received until 10 a M. to-day (Dec. 8) by Levi S. Gould, of the above bonds will be received until 12 m., December 29, Chairman County Commissioners, for $40,000 3%% 1-4 year by J. B. Hill, County Treasurer. Securities are (serial) court-house improvement bonds. Fort Atkinson, Wis. Bond Election Postponed.—Owing dated Dec. 1, 1900. Interest will be payable semi-annually to an error in publishing the notice of the election, a vote at the Beacon Trust Co., Boston. was not taken on November 20 on tne proposition to issue These bonds were awarded on Nov. 27 to Jose, Parker $35,000 3%% water-works bonds. Co., Boston, but it is stated the award has been rescinded, Gadsden, Ala.— Bond Bill Parses House. The House of as the advertisement of the sale was not in accordance with the State Legislature has passed Bill No. 13, authorizing the the law. issuance of $100,000 bonds to settle claims against the city Milton, Pa.— Bond Sale.—On December 4 $20,000 4% fundheld by the Gadsden Water Works Co. and for the purpose ing bonds were awarded to W. R. Todd & Co., Cincinnati, of buying or constructing a water- works system. at 104 185. Securities are in denomination of $500, dated Gainesville, Texas.— Bonds to be Issued.—This city pro- Jan. 1, 1901. Interest will be payable semi-annually and the poses to issue $5,000 4£ 10-40 year (optional) bonds. Securi- principal will mature $1,000 yearly ou January 1 from 1902 ties will probably be sold to the State. to 1921, inclusive. Gloucester, Mass. Temporary Loan. The City Treasurer Milwaukee County, Wis.— Bonds Proposed.—The County has negotiated a loan of $50,000 in anticipation of the coi- Board is considering the issuance of $275,000 4* 1 20-year tion of taxes. Loan is dated Dec. 1, 1900, and will mature (serial) viaduct bonds. May 1, 1901. Montgomery < onnty, Ala.— Bond Bill Passes Senate.— Gloucester Connty, N. J.— Bond Sale.— On November 30 Senate Bill No. 86, permitting the issuance of $500,000 road the $30,000 4% 1 10 year (serial) road bonds were awarded to bonds, has passed that body. — & — , — .- — — — — — : December — — — — : THE CHRONICLE. 8, 1900.] Ozaukee County, Wis. Description of Bonds.— We stated week that this county will issue $50,000 court-house Mount Healthy, Ohio. Bond Offering.— Proposals will be received until 12 m., December 81, by W. B. Jones, Village Clerk, for §189 70 5% 1-10 year (serial) Elizabeth Street sidewalk bonds. Securities are in denomination of $48 97, dated Dec. 20, 1900. Proposals will be received at the same time and place for $600 5<£ 1-10-year (serial) bonds to pav the village's proportion of the sidewalk improvement of Elizabeth These bonds are in denomination of $60, dated JaD. Street. 2, 1901. last We are now advised that only $35,006 bonds will be bonds. issued for this purpose. Securities will be in denomination of $1,000, dated March 1, 1901. Interest will be at t&e rate of 4% and the principal will mature $7,000 yearly on March 1 from 1903 to 1907, inclusive. The date of the sale of these bonds is yet to be determined. — The Council has au(Jiiincy, Mass.— Loan Authorized. thorized the loan of $10,000 mentioned in laet week's Chron- — New Castle County, Del. Bonds Proposed. This county will probably seek the authority of the State Legislature to issue bonds for the construction of a bridge to take the place of the one recently condemned by the United States icle. — dated Dec. 1,1900. 00r>, yearly from 1902 to 1909, inclusive, Propopals for these bonds, accompanied by a cf rtified check for $i ,000, will be received until 12 if., December 29, by A. W. Miller, City Clerk. Scituate, Mass. Loan Authorized. At a special town meeting held December 4 the Treasurer was authorized to issue notes for $14,200, the same to mature within ten years. Sedgwick County, Kan.— Bonds Voted. At the election held November 20 tnis county voted in favor of issuing $80,000 i% bonds in aid of the Kansas City Mexico & Orient Railway. These bonds, we are advised, will not be issued until the road is built. are advised Shelburne, Ont. Debentures Not, Sold. debentures offered for sale on November 29 that the $5 O'tO weie not sold, as no satisfactory bids were received, SecuriPrincipal will mature in thirty ties are dated Sept. 1, 1900. annual instalments in such amounts that the interest due and the sum to be applied on the principal shall together aggregate $289 15 in each year from 1901 to 1930, inclusive. These securities are guaranteed by the county, which is practically free from debt. The assessed valuation of the corporation is $351,345, while the bonded debt, including this issue, is given 31, $1,800 in 1901, $2,000 and $4,000 in Interest will be payable June 1 and December 1 at the National Bank of the Commonwealth, Boston, or at the office of the City Treasurer. 1900. — — Northampton, Mass. Bonds Authorized. At a meeting Government held November 30 an order was passed providing for the issuance of $17,000 armory bonds. North Smithfleld, R. I. Loan Authorized. The Town Treasurer, Herbert I. Parkis, has been authorized to borrow of the City — $12,000 to pay outstanding notes. to Geo. are the bids Geo. M. Hahn, M. Hahn, —We Co.. York, at 111-19. Following as $25,000. New York Seymour Bros. & New —We H are advised that Ogden Township, Kan.— Bond Sale. the $3,700 5t 5 year bonds, a description of which appeared in the Chronicle October 20, have been sold to S. S. Ashbrook of Mai hattan, Kan., at 100'70. Ojster Bay (N. Y.) School District No. 9. -Bond Sale.— On December 5 $7,700 4£ 20-26-year (serial) bonds were awarded 1910. — — Debenture Offering. Proposals will be received until December 12 by J. H. Burns, Town Clerk, for Securities are dated October 15, $10,000 4<g debentures. Niagara, Ont. — Sandusky, Ohio. Bond Offering. The City Council has a uthorized the issuance of $21,800 4# temporary loan fundr ing bonds. Securities are in denomination of $ >00, except one bond, which will be for $300, all dated D^c. 81, 1900. Interest will be payable semi-annually at the office of the City Treasurer and tbe principal will mature yearly on December Government. Newton, Mass.—-Bond Sale.— On November 30 the $15,000 3| 25 year Washington Street bonds were awarded to tne Shoe& Leather National Bank, Boston, at 100108 an interest basis of 2*994#. The only other bid made was that of the Sinking Fund of Newton at par. Securities are in denomination of $t V85 N. Y NEW — Bond Issue. We are advised that this has issued to the contractor in payment for work done South Bend, lnd. W. J. Hayes * Sons. Cleveland. 108'95 Walter Stanton & Co.. N. tf 10ti-00 111-19 110-17 city LOANS. NOTICE TO BONDHOLDERS NOTICE TO BONDHOLDERS OF OF PLATTSM0TFTH, NEB., BONDS. The owners and holders of the following-described bonds of the city of Plattsrnouth, Cass County, Nebraska, to wit: $26,000 Funding Bonds dated June 16th, 1881, $40,000 Railroad Aid Bonds dated May 1, 1890, issued to the Omaha Southern Railway Company, Railroad Aid Bonds dated July 1, 1890, $10,0: issued to the Omaha Southern Railway Company, $21,000 Refunding Bonds dated August 1st, 1886, issued to George Kearton, are hereby notified that the said city of Plattsrnouth by action of its Mayor and Council has decided and elected to exercise its option to pay and redeem said bonds on January 1, 1901. Now, therefore, the owners and holders of the said bonds above described are hereby notified to present said bonds at their place of payment, viz., The Fiscal Agency of the State of Nebraska, in the city of New York, on the 1st day of January, 1901, for redemption and payment, and that interest on said bonds will cease on H January 1, 1901. This notice is given in pursuance of the order •f the Mayor and Council of sold city of Platts mouth. E. NEB., Tbe owners and holders of the following-described bonds of the city of Nebraska City, Otoe County, Nfbraska, to wit Refunding bonds, series of 18*3, dated November 1, 1^83, consisting of 146 bonds of tbe denomination of $100 each, numbering consecutn ely from 1 to 45 inclusive and 48 to 147 inclusive, and 60 bonds of the denomination of $500 each, numbering from 201 to 260 inclusive, aggregating $44,400, are hereby notified that the said city of Nebraska City, by action of its Mayor and Council, has decided and elected to exercise its option to pay and redeem said bonds on January 1, 1901. Now, therefore, the owners and holders of said bonds above described are hereby notiSed to present said bonds at their place of pajment, viz., the Fiscal Agency of the State of Nebraska, in the city of New York, on the 1st day of January, 19)1. for redemption and payment, and that interest on said bonds will cease on January 1, 1901. This notice is given in pursuance of the order of the Mayor and Council of said city of Nebraska City. N. I. N. W. HARRIS & CO., BA NK*ERS, New York. Perry, Coffin & Burr, INVESTMENT BONDS Chicago, Issue Travelers' Letters of Credit AVAILABLE IN ALL PARTS OF THE WORLD. Boston. Deal in Bonds of Railroad, Street Rail- way, Gas and Electric Light 31 Nassau Companies. Governrm nt and Mvrnicipal Bonds Bought aitd Sold. ^^aluMn™ St., Cable Address BOSTON. 10 * New York. :— Saba. FOR Co., SAYINGS BANKS and TRUST FUNDS BANKERS, 16 Congress 15 Wall Street, Boston. Street. Grade SEND FOR 8 Bonds. LISTS. Exchange Place, Boston. 121 Euclid Avenue, Cleveland. MASON, LEWIS & CO., BANKERS, BOSTON, CHICAGO. GO Devonshire St. Monaduock Building, MUNICIPAL RAILROAD CORPORATION _-.,.„ BONDS. Choice Issues. Street Railway and Gas Companies. L.IST ON APPLICATION. E. H. ROLLINS & SONS, BANKERS. Bonds for Permanent Investment New York. STATE, CITY & RAILROAD BONDS h% NBW C. YORK. PHILA.. - JONES CO., NASSAU STREET. - Sc 1 - 112 SO. FOURTH BOSTON. San Francisco. TROWBRIDGE & NIVER CO., MUNICIPAL BONDS, BONDS A SPECIALTY. EDW. 19 milk Street, Denver. Investment Securities & High in Quotations furnished for purchase, sale or exchange 6o State Street, Blodget, Merritt i>eaiix:r8 PHIFER, Treasurer of the city of Nebraska City, Neb. W. COOK, Treasurer of the c!ly of Plattsrnouth, Neb. DENISON, PRIOR & CO. NEBRASKA CITY, BONDS. ST. Bank CHICAGO. First National Bldg., — c $40,768 32 street-improvement bonds. These bonds have been sold by the contractor to the Citizens' National Bank of Sonth Bend. Sparta. 111.—Bond Sale —The City Conncil has sold at par the Merchants' Exchange Bank an issue of $ 2,000 5% bonds. Spearflsb, S. Dak.— Bonds Authorized.—The City Council 10-20-year (optional) has authorized the issuance of $4,000 water bonds. Springfield, Ohio.— Bond Offering. Proposals will be received until 7:30 P. m.. Jan. 2, 1901, by R. N. Lantz. City Clerk, for $5,000 5* water improvement bonds. Secuiities are dated Jan. 1, 1901. Interest will be payable March 1 and September 1 at the office of the City Treasurer or at the Importers' Traders' National Bank, New York City. Principal will mature Sept. 1, 1910. Stamford, Conn. Loan Authorized. At a special town meeting held recently loans aggregating $50,000 were authorized to pay off outstanding indebtedness. Loans will mature to H — & — Jnne 1901. 1, —We are advised by Ala. Bond Offering. Messrs. Dryer Webb, City Attorneys, that they will offer for sale during the month of December $50,000 b%t 30-year first mortgage gold bonds of the city of Talladega^ secured by a first mortgage deed of trust on the gas and water plants now in operation in the city. Tilbury, Ont.—Debenture Sale.— On December 3 the $5,000 Co., To5% debentures were awarded to Geo. A. Stimson ronto, at 102'63. Following are the bids Talladega, & & : & Geo. A. Stimson ronto H. O'Hara & Co., Co.. To- F. Toronto Man Chatham, Ontario.... $5,075 00 Jose, Parker $5,131 50 6,lo5 00 & Co.. Boston.... 6,0<K> oo H. H. Shaver, Tilbury . 5.100 CO For description of secarities see Chronicle December p. 1135. 1, — Tippecanoe City, Ohio.— Bond Offering. Proposals will be received until 12 M.. December 21, by John M. Haaga, Village Clerk, for $1,262 47 6% street imorovement bonds. Securities are in denomination *>f $63 12, dated Jan. 1, 1901. Interest will be payable semi-annually and the principal will matnre c ne bond each six months from Aug. 1, 19^1. r o Feb. certified check for $100, payable to J. H. Pohl1, 1911. man, Village Treasurer, will be required. A INVESTMENTS. A.R.Macfarlane&Co. MINN. [Members American Bankers' Aas'n.J DEALERS IN Union, S. C. Bond Offering.—Proposals will be received until 4:30 P. M., Dec. 12, by W. D. Arthur, City Clerk, for $35,000 '20-40-year (optional) sewerage bonds. Interest, to be named in bids, will be payable semi-annually. Utica, N. T. Bonds Authorized. The Common Council has passed ordinances providing for the issuance of the fol- — ng bonds $1,000 for Street-Cleaning Fond. 8,000 for Street Cleaning Fund . 8,t0 for the City Fund. 1, coo for Public Improvement Fund. 1,5(0 lor Bridge Kund. 500 for Park Kund. 70J for Repair Fund. i 7,123 62 for 2.500 35 for 355 99 for li\918 6Sfor 1.833 95 for 500 00 for bids. — where. — Williamstown, Pa.— Bond Sale. This borough has sold an bonds at par. Zanesville, Ohio. Bond Election. An election will be held December 27 to vote on tne question of issuing $64,000 issue of $4,000 4i refunding — filtration-plant bonds. Ld., INVESTMENT SECURITIES. 238-240 La Salle Street, CHICAGO C. est references required. New York Office. RAILROAD ILLS. BONDS INVESTMENT BOND! MUNICI PAL BONDS. & Nuveen Bank Building, Chicago Correspondence solicited. Reference, First National No. 7 Congress and 31 State Streets, Bank, Chicago F. R. CORPORATION, J 50 Wall New BONDS. Street, York. Correspondence INVESTM ENT Solicited. SEC URITIES. )-» — *..*,* MUNICIPAL RAILROAD [ CORPORATION 5 BONDS Securities Netting: from 4H to 6 Per Cent LIST. ROBY ROBINSON, ATLANTA GA. H. C. WHITE & CO. BROADWAY, NEW YORK. AGEXTS FOR THE ANGLO-AMERICAN BANK, Ltd., Charing Croat, London. MUNICIPAL BONDS. Securities Netting from 3>£ to 6* CHICAGO. ALWAYS ON HAND. Send for our Investment Circular. N. Brown & Co., BANKERS, CEDAR STREET. NEW YORK. James No. 62 Dealers in Covernment, Municipal, Railroad and Corporation Bonds. INTEREST ALLOWED ON DEPOSITS. DUKE FARSON, M. Banker, 115 Dearborn Municipal Bonds. Street, CHICAGO. WE DEAL. IN SOUTHERN AND WESTERN Orders executed on N. Y. Stock Exchange. SECURITIES. MUNICIPAL BONDS. ROSENBERGER & LIYERMORE, (Specialists in Southern and Western Bonds.) NEW YORK 3 1 NASSAU STREET. E. C. always on hand. SEND FOR FULTON & CO., la salle street, BARSTOW, J ESTER & CO. ) CORRESPONDENCE SOLICITED. n Municipal Bonds, 171 MUNICIPAL, RAILROAD, 62. BANKERS, BOSTON. Co., INVESTMENT BANKERS, 1st National TO NET FROM 4^ TO Members of Boston StockJExchange. LIST ON APPLICATION. John and CORPORATION BANKERS, DEALERS IN - 52 Broadway. MUNICIPAL, ADAMS & COMPANY, 172 Washington Street, • Fund. Fund. Fund. Fund. Wichita, Kan. Bonds Voted. At the election held November 20 the proposition to issne $30,000 4<f. 10 20 year (optional) bonds in aid of the Kansas City Mexico & Orient Railway carried by a vote of 4,007 to 224. Serigwick County, of which Wichita is the county seat, also Jvoted bonds in aid of the same road on the same day, as stated else- Bankers and Exchange Agents. HEAD OFFICE: 24 Throgmorton St., London, E. CORPORATION BUNUb, - Local Assessment Local Assessment Local Assessment Local Assessment Voting Machine. , EXCHANGE, investors. CHICAGO, Street-Cleaiiing Fund. Wafoasso, Minn. Bond Offering.— Proposals will be received until 8 p. M Deeember 17, by G. H. Probett, Village Recorder, for $1,100 6£ 5-year water-works bond*. Waverly, Ohio.— Bond Sale.— On November 24 the $1,000 6$ 16-year electric-light bond was awarded to Rudolph Kleybolte & Co., Cincinnati, at 115 Whitesboro, N. Y.— Bond Offering.—This village will sell at public auction at 2 p. m., December 12, at the town hall, $10,000 gold sewer bonds. Securities are authorized by chapters 321 and 322, Laws of 1900. They are in denomination of $5' 0, dated Jan. 1, 1901, and are exempt from taxation. Interest will be at a rate not exceeding Z%i. Principal will mature in 1931. subject to call after 1921. Robert Ablett is Village President. These bonds were offered for sale as 3 per cents on Augnst 10 and again on November 26, but the low rate of interest did not attract any satisfactory Commercial Paper, Mortgage Loans, The exchange Is prepared to entertain a proposal for the establishment of Local Stocks and Real Estate. an Agency la New York, HighAct as agents for non-resident property owners and T. B. POTTER, MUNICIPAL and d n Kin $3.22131 for Interest Fund. 5,700 00 for Street Lighting Fund. MISCEL LANEOUS. MISCELLANEOUS. LONDON AND PARIS Geo. D. Cook Company, BANKERS AND BROKERS, DULUTH. ——— — — : I2I STANWOOD & - CO.. BANKERS, Devonshire Street- BOSTON. . VOI.V M 1> FOR SALE. 1866 TO DATE. CHRONICLE WILLIAM B. DANA COMPANY, ST.. CORNER PEARL ST., N.Y PINE,