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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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$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

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:

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—

—

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.
:

,

¥

-

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—

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.

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—

.

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

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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

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coco

oo
too

CO
mm do os
w

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coco

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coco

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I

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coco

d

coco

oo
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o~j

on ob
it-

a

I

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Louis,

Montgomery,
Loulsvllle,ne<

2?

City,

b£

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CO

f

$

"

"

««

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coco
OCTO

coco

CH GO

coco

UttleRook,

coco

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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

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Paris,

$

—

3

"

S.

I
m

"

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"
" "

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GsoBGlA...

Missouri...

ALABAMA...

Kentucky.

Mississippi.

Lodisiana

Tennessee..

w

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Abkansas..

N.Cabolina

Carolina

coco

©Cn
os co

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to

to to

©

coco

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coco

cow

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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.

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,

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,