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I

pnanrial
nmmfrffei'^
[Bntered according to Act of Congress, in the year 1899. by the William B.

VOL

Dana Company. In the office

SATURDAY, DECEMBER

69.

9,

of the Librarian of

^"^^^

Congrew.

NO. 1798

1899.

CLEARING HOUSE RETURNS.

The week's total for all cities, on account of the Thanksgiving holiday, shows a gain or only 1-3 per cent over 1898.
make a very favorable exhibit. In the aggregate for the whole country the The increase over 1897 is 195 per cent and the escees
over
excess over 1898 reaches 21-8 per cent. For the eleven months 1896 is 36-4 per cent. Outside of New York the
decrease
the increase over a year ago is 17*3 per cent.
compared with 1898 is 3-1 per cent.
For the month

November the

of

clearings

BUven Montht.

Noveniber.

Week ending December
1899.

1898.

P.Ot.

1899.

1898.

P.Ct.

1899

t

New

York....

Philadelphia
Pittsburg

i,

WashlDKton.
Rochester...

Syracuse
Scr n'on ...
Wilminirton.
BiDKbamton.
Total Middle

Boston
Providence
Hartford ...
New Haven...
SprlnBlleld.

_

615,300,980
29,433,600
10,064,593
6,902,5:^5

6,258,307

..

Worcester

6,634,.o4.S

Portland
FaU River

5,801 622

liOwell

2.534,387

4,882,0ti0

New

Bedford.
Total N. Bng

Chicaco
Cincinnati
Detroit
Cleveland
Milwaukee....

Columbus
Indianapolis..

Peoria

Toledo

Grand Rapids.
Dayton
Toun^stown ..

2.4:<1,504

690 254, 138
584,386,736
65.746.000
35,223,6119
45,28.S,815

26,181,642
22,261,200
13 655,109
8.575, 199
9,110,850

5

155,0(!7

Springtleld.lli.

4.709.190
1.197,150
1,734,074

Leringtoa

1,84:1,451

Alu-on
Kalamazoo....

1.735,800
1,817.515
1,460,29
1,270.841
1,265.047
1,057,467

Saginaw
Rocklord
Springfield

Canton ...
Tot. M.West.
.

San Francisco.
Salt Lake City.
I-ortland
IjOs Angeles...
Seattle

Spokane

Tacoma
Helena
Fargo
Sioux

Falls.

Total Pacific

Kansas

City...

Minneapolis...

Omaha

St.

Paul

Denver
St.

Joseph

Des Moines
Davenport
Sioux City

Topeka
•

Wichita.

Fremont
Tol. oth'r
St.

W

Louis

New

Orleans..

liOuisville

Galveston

Houston
Savannah..
ItiohmoDd

..

Memphis
Atlanta
Nashville

Norfolk
Auinista
Knoxvilie
Fort Worth...
Birmingham...

Macon
Little Rock..

.

Chattanooga..
Jacksonville...

Total South
Total all ...
Outside N. Y

Montreal
Toronto

Winnipeg

:....

Halifax......::

Hamilton
John

St.

Tot Canada.

^

833,075,665
95,195,068
12,454,419
9,599,720
9,076,610
10,705,114
5,935,663
4,619,632
2,966,288
2,367,042
718,915
153:639,071
61.421.045
62,552,435
27,031,525
24,309.63»
17,127,555
13,887,631
6,528,073
3,468.743
4,946,703
2.434,C56
2.067,191

438 853

Hastings

1899.

r,952,973,249 '3,972,632,,392+24 •755,413,506,.034 37,314 ,424,876
-I-48-5
400,432,259
321,900 ,447 +24-4 4,379,902 .001 3,281 .778,581 --33-5
128,749,024
77,735. 44 +66 -0 1,401,790,013
883,,910,1h8 --58-5
88,981,975
a3,978,,710 +6-0 1,110.797,846
841 ,538,076 - -32-0
24.178,110
20,713 ,068 +18-7
229,9.52,,123
190 107,232 - -17-3
11,757,762
9,151 ,682-|-28-5
111.254,.152
92 ,7.52,144 - -200
8,680,283
8,289.,044 +4-7
92.897,.632
82i,916.350 4-120
5,307,671
5,158,,713 +2-9
53 342 ,.301
52 ,393,951 +1-8
4,896,389
4,319,561 +13-4
50 303 ,905
42:,5ul,581 +18-4
3,803,335
3,247,,84ti-}-17-l
40.950 ,417
34 ,82h,96» 4-17-6
1,647.600
1,481,,200-|-ll-2
17.550^00
16 ,454,700 +6-7
,631.407,657 4,508.'609,007+24-9 62,902,306,
i,744|42,839:,613,658 +46-8
,

Baltimore....
Buffalo

577,950
226,791.399

+14-5 6,477.459,376 4.868,398,070

537,503 .763
22,9W3
J.200
9,930
),046
6,762
!,634

4-28-0

+1-3
4-2-1

7,014,_,.
1,90
6.428,628
~6.623
1,836

10-8

+3-2
12-4
~

+34-9
—9-5
2,109
).82 +15-3
605,786,124 +13-9
3,618,
3,781
2.800,
),502

303,671,300
123,652,8.30

80,476,594
78,034,086
72,289.»85
69,247,850
42,746.713
31,287.112
24.979.055
7,303,845,501 5,594,613,190 -t-30-6

490,357 ,854 19-2 5,997,697,694 4.944,086,146 -1-21 -3
53,425 ,450 4-231
677,517,150
590,400,700 --14-8
30.944 .940 -13 8
378 406,07,^)
315,803,045 --19-8
35,485 ,825 -27-6
472,462.519
353,301,867 4-33-7
23,796,,345 --100
259,76 1,03~
237,337,838 +9-4
19,192 ,500 - -16-0
230,954.900
189,980,800 +24-7
12,339,,835 --10-7
139.096,824
1*2'2
123,970,785
7.162,,520 4-19-7
91,310,238
18-4
77,110,0.57
8.658,,640 +5-2
99 575,712
87,654,086 4-13-6
4,431 554 +10-3
52.790,338
43,672,270 --20-9
3,662,,835 4-28-6
46.604 202
35,8^3,1.55 - -300
1,164,.561 +2-8
1,671,,881 4-3-8
1,180,,092 f50-2
1.406,,700 -I-23-4
1,284,,413 -41-5
1,321..096 -10-5
968 .008 -31-2
893 .680 4^1-8
995,,300 +6^2

15,609.17;
19,907.490
17.807 271
18,564,180
10,039,509
14,790,401
13,238,979
12,9U6,680
11.604,963

700,343,635|+19-0 8,593,515,93'
74,039 ,980
9,50S ,883
8,815 .486,750 .679
6,108 ,800
5,400 .75b

-I-28-6

883,492,850

4-31

113,.525,54]

+8-9
-1-34-5

4-75-3

83,037,413
81,461,044
94,784,631
58,023,479
40,844,622
28,711,415
15,497,088
6,591,367

13.;i40,118 --17-4

17,100,929
18,673,856
14,578,600
14,339,203
12,607,571

-4-ti

14,031 .3*4 1-22-1
9,870 ,.^--i-40-7
22
4,29<3 ,643- -51-9
3,035 ,031 -14-3
3,883 ,569 4-27-4
2,494 ,804 -2-4
2,183 ,932 -5-3
4411,623 -0-6

609
),013

-5

1

589,105,.'>98

484,168,872
271,463,950
216,064,906
159,510,468
144,293,961
66,860,855
38,825,809
46,302,366
27,021,391
22,242,139
6,854,300
6,269,872

-2-1
-j-19-6

-51-8

+9-8

+ 18-0

-6-8
+9-2

-f-16-2

--26-8
--23-1

--140
4-23-6
4-0-9
-(-14-8

4-21;5

212,359,387 +6-8 2,077,984,500 1,866,721,888 +11-3

67,246,975 +5-7
39,125,31!) +141
11.003,.549 -i-24o
5,154,7.52 4-28-9
3,147,598 4-16-9
2,0(i0,771 +9-1

128,938,9641+11 -2

725,606,309
457,808,745
94,819,88;^
6:j,>- 56,277
36,557,854
2 9,665,53«
1,408,314,604

Table Clearinara by Teleirraph pase 1176.

662,1-23.191

Total Middle...

Boston
Providence
Hartford

New Haven
Springfield

Worcester
Portland
Fall River

Lowell
Bedford

New

New

Eng..,

Chicago
Cincinnati
Detroit

Milwaukee.

....

Columbus
Indianapolis

Peoria
Toledo

Grand Rapids
Dayton

Ydungstown

245.395,
330.5311
442.974'

111

+13-1
+5-2
+19-6

-20
-j-3-1

4-5-9

+27-1

-0-2
-f-150
4-16-4
4-25-9
4-23-2
4-10-5

-H-1

-K21

+2-7
+8-0
2'2

+2-9
-t-ll;6

+391
+24-5

+9-6

394,l(>0,10i; -I-IOI
80,01.5.004 -I-180

56,134,580 -I-13-8
32,302,853 4-13-2
27,602.669

J-75

1,252,339,063 +12-5

323 700;
333,490

Saginaw
Rocktord

864 422
254,541!

Springfield, Ohio...

267,814
234,011

Canton
Tot. Mid. West'n.

171,483,9151

San Krancisco
Salt

20,2»*2,107!

Lake City

3,155.315

Portland

1,910,635'
1,910.902;

Los Angeles
Seattle

Spokane

Tacoma
Helena
Fargo
Sioux Falls
Total Pacific

Kansas City
Minneapolis

Omaha
St.

Paul

Denver
Joseph
Des Moines
Davenport
St.

Sioux City

Topeka
Wichita
Fremont.
Hastings
Tot. other West.
St.

Lonis

New

Orleans

Louisville

Galveston

Houston
Savannah
Richmond
Memphis
Atlanta
Nashville
Norfolk

Augusta
Knoxvilie
Fort Worth

Birmingham
Macon
Little Bock
Chatt anooi-'a
Jacksonville
Total Southern..
Total all
Outside N. York.

Montreal
Toronto

Winnipeg
Halifax

Hamilton
St.

John

Victoria

Vancouver
Total Canada....

9.109.1271
5.354.397:
4,000.000
3,035,806:
1,514,849,
1,708,7171
1,016.810;

935.122
954,164

Bvansville
SpringBeld,

114,558,761
5,779,200
2,415,191
1,674,338
1,241,882
1,101,984
1,092,284
1,185,889
477,149
389,469
129.916^147

119,972,806
13,907,950
6,977,229

Cleveland

-I-17-3

741,083,310 -f-19 2
77,297,830 4-46-9

536,721,255
410,310,766
288,310,584
197,921,710
137,290,143
113,811,638
54,319,447
34,066,027
87,460,198
25,435,422
20,801,123
5,100,092
5,161,483

Bingbamton

Akron
Kalamazoo

4-160

+9-9
40,530,580 4^3-2
3,507.136 +29-5
39,916,740 +2-3
2,811,,749 +5-5
26.2<W,816 4-9-3
2233 ,000 +6-0
12,763,055 -1-21-4
575,,96' +24-8
5,143^510 f28^2
119,812,499 +28-3 1,405,970,050 1,158,376,861 4-21-4
57,455 ,350 -I-6-9
55,956 ,253 +11-8
31,355 ,577 -13-8
26,745 ,506 -9-1

Buffalo

Washington.
Rochester
Syracuse
Scranton
Wilmington

Lexington

7,118,900,558 +20-7

68,121,774
62.423.480

Baltimore

Tota

1898.

P. Cent.

1.039,136,937 1,001,138,114
86.588,884
85,816,518
25.371,970
20,710.918
18,981,468
23,060,774
4.427,439
5,251,539
2,207,542
2,270,293
2,057,414
2,128.340
995,869
1,123,440
1,000,884
1,238,997
712,652
803.252
33 3,400
360,900
1,181,874:489 1,143,903,085

,

Philadelpbia
Pittsburg

-I-27-3

9,109,089 -42-7
9,627.704 - -21-2

139,362,353 +1-6 1,486,222,383 1,314,605,352
45.427,330 4-7-0
402,262,080
382,430,355
29,749,631 +27-9
376,064,319
314,530,345
21,746,700 -22-5
152,548,250
156,588,350
17,589,298 -1-15-4
141,138,757
136,954,693
15,780,946 --12-8
121,401,237
114,621,123
12,234,925 --12-0
152,971,915
120.364,722
12,342,951 -16-0
97,663,866
97,893,379
7,429,550 -201
74,189,495
64,153,340
5.258,610 --18-7
61,593,919
52,899,167
5.027,5^1 4-52-6
57,166,141
45,417.4.50
4,569,450 +2-2
42,Sf 18,705
34,743,631
2,254,705 4-6-7
26,985,215
24,420,799
3.543.734 fio-.
40,920,007
39.297,219
2.399.814 +53-8
30,289,691
21,316,002
2,273,000 -(-44-1
25,032,000
24,383,000
1,97.5,271 4-15-7
17,603,603
16,359,005
1,528,468 +94
15,704,547
16,065.100
918,533 +17-7
10,406,318
10,167,582
331.4 12,856
3,333,098,443 2.987,211.280
7,893,050.202 0,478.323.508 -i-21^ 85,610,72l7l75
'51,565,437.4.35
2,940,077,013 2,505,091,116 +17-3 30,203,2i5Tl4]
24,251,012,559

143.403,419

4-100

10,250,7.39 --29-1

84,8;J2,760

New York

-(-33-1

239,029,100 4-270
113,561,004 +8-9
73,247,209 +9-9
68,447,006 +14
70.873,974 -1-2-0
67,148 531 4-3-1
35,850,594 +19-2
32,465,115 -3-6
25,591.927 -2-4

141,471 898
48,884,795
38,035,556
16.847.300
20,305.644
17,799.296
13,702,674
14.394,431
8,922 696
6,244,423
7,672,658
4,669.667
2,405,1«9
3,921,477
3.690,795
3 275,000
2,285.432
1.671,840
1,081.583
357,282.3»1
»4

71,101.702
44,aS7,522
14.435.2iy
6.645.763
3.R80.147
2,903,066

2.

Clearings at-

'

1

1

2,045 905
1,260.575
970,721
593,062
44l.810i
128.904;

32,712,936
11,348,538
13,801 315
4,957,444
4.950,114
3.471,518
2,500,t00
1,100,000
818.2941
989,494
456,751
473,855
78,217
148,928
45,092,468

28,107,235
13,698.102
7,951,153
8 6.30.750
4.690.449
3,603.443
2.974,399
1,722,013
1,318,916'
1,1 1-2,791

692.301

i

505.454!
1,034,0121
7.50.000
616,0001
438,753'
336,464,

194,289

-33
-11-4
-19-2
-11-3
-7-6
+3-3

-52
+003
-20

120,791,300
5,777,4001
2,46;<,&40

1,857,165
1,609,686
1,546,1861
1.343.557:
919.0821
708,128
516,4851

137,223,129
125,007.103!
13,410,700
7,447.543
8.1S2.544
5,543,351
4.6H0,400
2,851,1311
1,803.870:
1.560,872
1,024.331

933.928
764.S91
316.713
34l,aS2
488,986
300.300
310.132
273.201
176.952
184,264
226,688
175.836.732
18.367.271
2.732.649
2,301,719
1.649.389
1.500.000
1,200.058
844,955
848,984

581,000
122,451
30,207.576
12.434.383
12,622.382
7.243.077
5,916,333
3,413,684
2,662.230
1,350,000
943,387

994,976
566,818
464,377
102,904
130,000
48,844,551
34.04';,733

3.020,0.36

-I-3-8

+0-9
+22-5
-17-7
-15-7
-0-1

-9-7
-32-9
-28-7
-28-7

+289

-32-6

-24

6

-53
-4-0

+37

-6-3
+11-3
-3-4
-1-7
—7-6
-16-0
+9-5
-0-7

+01
+247
-224
-3-3
-9-4
+7-8
+7-5
+33-3

1897.

1896.

793,330,906
82,026,489
17.772.017
17,830,045
5,346.731
2,213,521
2,181,034
1,297,489
1.161,884
777.214
315,900
924,283.230

681.683,075
68,671,772
14.929,145
16,206,513
4.821,721
2,036,279
1.864.064
1,042,214
1,067,733
651,332
357,900

109,022.610
5,226.900
2,487.019
1,684.086
1.470,648
1 477.278
1,675.744
1,026.653

769 518
500,644
125,341,180
115,828,339
13,740,000
7,265,706
0,941,735
5,959,966
4,679.800
2,721,728
2,201.770
1,998,734
926,720
715,246

3.35355
290,000

793,511,748
1 14,879,663
6,681,600
2,262,084
1.489,060
1,342,350
1,523,182
1,466,356
1,084,671
604.082
611,531
130.954,379
99,028.053
13,188,500
6,188 648
4,898.792
4.962.484
3.999,200
2,340,244
1.632.684
1,772.595
731,282
620,072

i

40;j.591

190,373

387,386
292,600
208,465
282,584
174.153
153,945
15M.101

-23-9
+5 3

165,657,442
19.012.981
2,222.196
2,773,936
1,652,940
1,216,131
959,716
893,409
550,000
413,517
119,lia

141,074.773
17.685,9&S
1,950.076
1,679,616
1,468,974
542,771
888.822
533,165
526,056
110,708
45,527

-J-8-3

29,813.944!

25.431,703
12.045,528
11,277,844
3.956.839
4.750.354
2,588,126
1.421,287
1,204,907
700,000
572,728
474.500
326,746
68.834
81.566
39,470,764
28,740.167
10,781.870
7.107,387
3,991,400

+441
+450
+3-2
-2-5
+10-4
+15-5

—170

+16-2:
+36 4

+0()4

+15 6
-29

-8-8
+9-3
-31-6

-163
+1-7
-6-1

-18

5

-13-3

-06

-19-4

+2
-24-0
+145
—7-7
-17-4
+1-2

273,000
299 164
298,066;
157,349
170.200

11,838,6.33

13,011.953
5,620,875
6,2-23,057

2,616.935
1,502.656
1,250,000
750,403

800 381
581.552
413,454
104,233
101,372
44,810.504

33,511,899
12 609.190
7,308.231
4.702.300
4 037.612
3.245.974
2,738.817
2,807.101
1,676.204
1,385,099
1,205.415

13,538,101
7,220,978
4,505.150
4,506.082
3,591,941
3,363,939
2,949,123
1,733,632
1.241.017
1,309,733
947,770
480,KOO
857.973

+5-1

443.670

+20-6

1,137,569

552 836
537.000

+147

478.8a6

2-5

910.0<Kf

-5-1

317.780
202 774

450.032
354,383
207,690

76.397,100
82,393,925
.637.477,115 1,618,409.998

+101
—19 4
+0-3
-10-2

+0 9

-0-7

+6 3

-15-0
-27-0

+35
-

7

6-5
--,'2

1,068,031

558 540

3,531 283
2.8-24.505

2.668,798
2,819,654
1,745.667
1,263.140
1,316.587
1,001,529
466,252
821,557
449.816

402.284
254.248

226 819

_+l-2

80,430.006
370 396. ?5P

617,271.884

-3-1

577,005.45(1

— 2-8

518 941.651

]5,355.2.-i8

10.134.897
3,264. 3S4

+0

13,523.22:8,672 311

7

1,500.000
858,8701
572.283

l,167.a3f-

+28

5

2,275.300
1,371.59;

13.832 ii25
9.406.248
2,151,399
1.329,330

780.99h
601.199

703.8S,-

802,Sj97

+14-2

547,591

451,0'29l

-39 9

570,608

7.50.546

850,5071

653,356

+30-2
-0-6

27.116,961

28,070,190

598,340.1481
14,022.448
9.998.594

i

3,286, 1 50

32.439,893

32.608,546

-1-3

+90

70.361.459
.200 804.726

1

THE CHRONICLE.

166

fVoL. LXIX.

movements are experiencing a bit of hard luck just
pages 1198 to 1202 will be found extended exnow; this seems especially so when we have in mind
tracts from the annual report to Congress of the
that it is a festive occasion, the holiday season.
Secretary of the Treasury, Mr. Lyman J. Gage.

On

But standing almost unmoved, an evidence

THE FINANCIAL SITUATION.
The meeting

of Congress has

real stability of

been the event of the properties.

not had the unfavorable influence in
financial circles which has so often been an incident
of the annual assembling of our national legislative
body in recent years. On the contrary the expeditious, business-like way in which the House has gone

week.

It has

means to
accomplish what it set out to do, and this has had a
Of course
material effect in increasing confidence.

to

work on

its

currency

bill

has shown that

that better feeling has not created a
Street.

The

it

boom

in Wall

condition of monetary affairs in Europe

the situation, are our best railroad

The

reason

is

money in the interior and for the large
Government revenue and consequent currency ac-

the call for

cumulations in the Sub-Treasury which are in progress, we should be inclined to trust fully the old
adage that the crisis every one anticipates never
comes.
But aside from the troubles in Europe and our own
monetary stringency, present and prospective, there is
another class of domestic influences which has helped
largely to unnerve our market.
We refer to the excessive speculation leading up to an extreme overcapitalization of certain classes of properties during
the early months of 1899, and the consequent liquidation that has been in progress the last half of the
year; a liquidation that has now run its course
so long and so far that there is a capricious,
prevailing,
keeping as it were
fitful sentiment
operators
constantly on the
the whole body of
alert for disasters. We have had several incidents this

perfectly

Our

obvious.

enjoying a rare degree of
Returns of railroad earnings furnish
prosperity.
Notwithsteadily accumulating testimony to this.
standing comparison is with enlarged totals a year
ago, further improvement is being recorded from
month to month and week to week, and even the ratio
undergoing hardly any diminution.
is
of gain
The only exceptions to the rule are in the case
dependent upon the
chiefly
of Southern roads
cotton crop, which the present year is short,
other special cause
or roads which for some
are suffering a decrease; and such instances are not
numerous. Added proof of the prosperity prevailing
is found in the new and enlarged dividend distribuTwo weeks ago our
tions being reported all the time.

transportation interests are

would prevent that even were there no cause for an
arrest of speculative movements growing out of derangements in home matters. Prominent among these
are the close money market prevailing here and the
uneasiness felt with reference to rates in later weeks
as we near the end of the month and during the news columns recorded the
opening days of the new year. This season of the
year is always a trying one and, under present circumstances, it is natural for capital and for operators
to expect stringency and to be cautious, especially
At the same time no doubt
after recent experiences.
the large body of our people having engagements to
meet have bridged the period, and if it were not for
the European monetary difficulties, and especially for

of the

fact that

the Hocking

Valley Railway, a recently reorganized property, had
declared its first dividend on the preferred stock.
The amount is 1^ per cent, payable in January. We

noted at the time that the Pittsburg Bessemer &
Lake Erie was to make its first distribution (3 per
This week we have the
cent) on its preferred stock.
announcement that the Chicago & North Western has
increased its dividend on the common stook from a
basis of 5 per cent per annum to 6 per cent, and that
the St. Paul & Omaha common dividend has been
advanced to 5 per cent. The Chicago Great Western has
raised the semi-annual dividend on the preferred stock
A from 2 to 2-^ per cent. Furthermore, the Atchison
Topeka & Santa Railway has also given further evidence
of growing prosperity. In January of the present year
the company made its first payment on the preferred
The dividend was one per cent. In July a
stock.
second payment was made, this time 1^ per cent,
The resolution passed by the Board of Directors in
declaring this dividend in effect announced that
another similar dividend of li per cent would be
made the coming January. The present week the Board
took action with reference to this dividend, and shareholders fare even better than expected, the payment
being made 1| per cent. The dividend comes out of
the earnings of the fiscal year ending June 30 1899,
and with the 1^ per cent paid last July makes 2| peri

also

The 2| per cent calls:
cent altogether for that year.
For it happens naturally enough at such a juncture for $3,140,051, while the surplus available on the|
that a kind of a squall should every now and then operations of the twelve months was $4,187,997, thuaj
week

illustrative of the sensitiveness of the situation.

Wall Street craft. One such seemed to escape unannounced from the folds of the President's
message. All of a sudden that highly portentous
word "trusts" was observed there. A thorough shaking up of the whole class of "specialties" was the consequence, affecting in some degree the entire list. Then
again on the heels of that experience, as suddisturber.
denly appeared another similar
This
latter developed out of a Supreme Court decision.
It
had been expected; indeed it was a twice-laid ghost;
yet it worked as if unheralded, the scare coming from
an equally inflammable expression, "inter-State com.
merce," discovered
the judges' opinion.
The result seemed to be that every **industrial" as well as
some other items of cargo had to be thrown overboard
before the craft could be righted. Truly Wall Street

strike our

m

leaving a balance of $1,047,946.

Mr. John I. Blair, who died last Saturday, played
a very prominent part in the earlier development of
the railroad system of the United States. Mr. Blair
attained such an advanced age, he being in his 98th
year at the time of his death, that to the present
generation he is known mainly because of his association with the well-known
and- because

his

banking firm

name appears

of Blair

&

Co.

as director in such

Chicago & North Western
Delaware Lackawanna & Western, etc., etc. Bat
when he was in active business life he was one of the
high-class properties

as

most energetic railway builders in the country. Manj
the West owe their existence to him. H(
aided in their construction with his capital and witi
lines

in

i

December

9,

THE CHRONICLE.

1899.1

1167

While engaged in this work he laid out is substantial basis
for the firm tone. This is found not
the Western towns. That he prospered, and only in
a renewal of the movement of money
from
that the roads which he built and the sections
which this city to the interior, but also in the fact that
acthese roads opened up also prospered, is not wondercumulations in the Sub-Treasury have been large this
ful.
His standard of integrity was a high one, and week.
The disbursements for bonds here have been
he also possessed the faculty of being able to select very
moderate, amounting for the week to $814,431,with almost unerring accuracy the most feasible and
25, making, since the purchases began,
$17,707,239 36.
most desirable routes. Most of all, he had faith in Considering
these adverse influences, therefore, it is
the future of the United States— in its progress not
surprising that the market should be firm.
and growth; and no one who builds on such a sure
Money on call, representing bankers' balances, has
foundation as that can go astray or fail to succeed.
loaned at the Stock Exchange during the week at
12
per cent and at 3 per cent, averaging about
7 per
In view of the importance to the railroads,
now cent. On Monday the range was from 10 per cent to
that the cost of materials and supplies has increased
6 per cent, with the bulk of the business at 7 to 8 per
so decidedly, of being able to obtain full
rates for cent, and the higher rate was
recorded in the last
their transportation services, considerable interest
at- hour, when the market was disturbed
by a calling of
taches to the decision rendered on Monday of
this loans.
On Tuesday transactions were at 8 per cent
week by Judge Kohlsaat, sustaining the switching and at
5^ per cent, with the majority at 7 per cent.
charge on live-stock carried to Chicago. This was
a On Wednesday the range was from 8 per cent
to 3
case where the Inter-State Commerce Commission
per cent, the latter being recorded in the last
half
decided that the charge of $2 00 per car was unreasonhour, and the bulk of the business was at 7 per
cent.
able and ordered a reduction to $1 00.
Prior to On Thursday loans were at 7 per cent
and at 5 per
June 1 1894 shippers of live-stock to Chicago could cent, with
the majority at 7 per cent.
On Friday the
have the same delivered without extra charge to the range
was from 12 per cent to 5 percent, with the'bulk
Union stock yards. Up to 1893 the Stock Yards Com- of the
business at I per cent.
Banks and trust company, which owns and controls the tracks required for panies
quote 6 per cent as the minimum for new loans
the movement of freight between the roads and the
on good collateral, though some of the banks have,
stock yards, had given to the roads the free use
of as
has been customary, loaned at
the higher
the tracks, the carriers being at the expense only
of rates
ruling
at
the
moment on the Stock
the actual cost of hauling and handling. In 1893
the Exchange.
There is a good demand for time
Stock Yards Company assumed the entire work of contracts,
and banks and other institutions are
hauling cars, and charged the roads for the service, meeting
the inquiry in a fairly liberal manner, though
but added a trackage charge of 40 cents a car
each stipulating for good mixed Stock Exchange collateral.
way. The roads then filed a new schedule with
the On such security the rate is 6 per cent for all periods
Inter-State Commerce Commission, in which the
ter- from thirty days to six months.
Loans on a less acminal charge was fixed at $2 00 per car, and separated ceptable
grade of collateral are, it may be noted, subfrom the through rate to Chicago. Judge Kohlsaat ject to
special agreement and few of these loans are
Bays the right of the roads to segregate the
terminal made by banks. There is a good supply of commerexpense from the through charge cannot be denied. cial paper
in the market, but the buying is chiefly
by
Hence, unless the one or the other of these charges in out of-town
institutions, the majority of the city
and of itself is unjust and unlawful the Commission's banks preferring
good collateral loans to even the best
contention must fail. The justice and fairness
of single-name commercial notes.
Eates are 5^ per cent
the Chicago rate was not called in question, and for sixty
to ninety- day endorsed bills receivable,
of
as to the terminal charge
the petition admits, which, however, there are very
few in the market, 5|
Judge Kohlsaat says, that if it is to be considered by
@6 per cent for prime and 6 to 8 per cent for good
itself it must be held to be reasonable,
and therefore four to six months' single names. As above noted,
just and lawful.
Under the circumstances there was there has been a larger
movement of money to the
no alternative but to deny the prayer of the petition, South this
week and facilities have been extended by
and it was unnecessary to pass upon the question the Treasury
for the transfer by telegraph to IS'ew
whether the case came within the scope of the Inter- Orleans
of United States notes and Treasury notes of
State Act.
1890 in small denominations, on the deposit of gold
his skill.

many of

certificates at

The market

for

money has been

firm this

New

York.

week not-

withstanding the improvement in bank reserves,
The news from the seat of war in Natal, though
as
last week's statement, which disclosed
the meagre this week, would seem to indicate the fair
important gain of $4,414,500 in cash and an inprogress making of the British troops who are movcrease
in
the
surplus
reserve
of
$1,884,500 ing to the relief of the beleagured forces at Kimberly
to
$8,536,700, the
highest
since September 2 and Ladysmith.
The Bank of England minimum
when it was $9,191,250. Some observers have rate of
discount remains unchanged at 6 per cent.
expressed the opinion that this firm condition
of the The Bank of France, however, on Thursday advanced
money market has been largely due to manipula- its rate
to 3^ per cent, from 3 per cent, at which it
tion, having for its object the establishment,
tempo- had stood since October 9 last year. This advance in
rarily at least, of a lower range of
stock values. the rate has been foreshadowed at least during
the
There is no good reason for this opinion. Discrimi- last
fortnight by the firm tone for open-market disnation against collateral has had much to do
with the counts at Paris. The cable reports discounts of sixty
high rates recorded during the week ; thus
while bor- to ninety-day bank bills in London,
5f per cent. The
owers on acceptable security could obtain money at
6 per open market rate at Paris is 3^ per cent and
at Berlin
cent, borrowers with certain lines of
industrial stocks and Frankfort it is 6^ per cent.
According to our
have been required to pay high rates. Moreover
there special

shown by

cable from

London

the

Bank

of

England

lost

THE CHRONICLE.

1168

£333,495 bullion during the week and held £30,797,194 at the close of the week. Our correspondent
further advises us that the loss was due to the import
of £44,000 purchased in the open market and to £377,-

[Vol. LXIX.

With the Sub-Treasury operations the result
Wuk

Endino December

Banks.

Banks

interior

movement, as above

has been

firm and the firmness has been especially noticeable in
sterling, continental exchange being unaltered as to
The explanation for this
rates and steady in tone.

peculiarity in

the market

:

commercial bills against grain
and cotton has been only moderate and the volume
decreased after the middle of the week. Receipts of
gold at the Custom House during the week amounted

The supply

of

to $32,021.

exchange|were advanced by some
of the drawers after Monday and the range thereafter
was from 4 82 to 4 82^ for sixty day and from 4 87 to
Rates for actual business opened on
4 87| for sight.
Monday one- quarter of a cent higher for long, compared with those at the close on Friday of last week,

Nominal

at 4

8H@4

rates for

SH, while

rates for sight

and for cables

remained unchanged at 4 86i@4 86^ for the former
and at 4 87i@4 87i for the latter. The tone was dull
though firm. On the following day there was an advance of one-quarter of a cent all around in rates for
actual business, to 4

8U@4

81| for long, 4 8Gi@4 86f

and 4 87i@4 87| for cables. The market
was firm and it so continued on Wednesday and on
Thursday, though rates were unchanged. The market was steady on Friday. The following shows daily
posted rates for exchange by some of the leading
for short

drawers.
Fri..

Brown Bros

5

60 days.

}

Sight...,

aarine,

5

60 days,

Magonn & Co..
Bunk British

iSiRht...,
<

60 days,

No. America... iSiKht...,
i 60 days,
Bans of

MoDtreal
Canadian Bank
ol

Oommerce..

(Sight...,
5 flO
^

days

Sight..

.

Heldelbach. Ick- 5 60 days
elbelmer & Co. ) Sight..
60 days
Lazard Freres... 5 Sight...
}

Merchants' Bk.
of Canada

MON.,

Dec.l.

Vec. 4.

4 82
4 87
4 82«
4 87
4 82
4 87
4 82
4 87
4 82
4 87
4 82
4 87
4 82
4 87

82
87

82^
87«

.

82«

5

60 days

4

)

Sight...

4 87

The market

82
87
82
87
82
87
82
87
82
87
82 J6
87

TtTES.,
Dtc. 5.

Wed.,
Dec.

6.

THtni..
Dec. 7.

82

82}^

87«
82«
87«

87«
82^

82
87
82
87
82
87

82^

87>4

FBI.,
Dec. 8.

87^
12^
87>.

87«
82^
87H
82^
87«

87>i

82^
87«

82
87
82
87

82
87
82
87

82
87

82^
87X
82M
87H

82»
87«
82^
87H

9Si%

1?^
82^
87«
!?«

ll«

l?«

82^
87H
87><

82J^

87

closed steady on Friday, with rates for

81^@4 81f
and 4 87^@4 87f for

actual business 4

for

long, 4

86^@4 86f

$25,864,000

Loss. $6,472,000

amount

of bullion

European banks.

in the principal

December

Bank

Loss. $3,272,000
Loss. 3,200,000

following table indicates the

7,

DeeemJier

1899.

3,

1898.

of

Gold.

that exchange at Paris

is

and Berlin on London has advanced, and that therefore remittance to the Continent is cheaper through
The supply of
sterling than through francs or marks.
bankers' bills has been limited and insufficient to meet
hence the firm tone
the requirements of remitters
and higher rates for them. There does not appear to
have been much, if indeed any, inquiry for remittance
in anticipation of the January settlements; money is
so firm here that such anticipation would be unprofitable.

The

Holdings.

$6,664,000
19.200,000

$19,392,000

Total gold and legal tenders.

The foreign exchange market, though quiet,

Net Change in

Bank

$3,392,000
16,000,000

Sub- Treasury operations

000 net sent to the interior of Grreat Britain.

Out of
Banks.

Into

1899.

8.

is;

Total.

Silver.

Gold.

Silver.

Total.

£
England
France

£

30,797,194

Anst.-Hung'y
Spain

30,797,194 31,250,743
31.250,743
76,487,418 46,706,093 122,193,511 73,180,060 48,479,152 121,659,212
24,016,000 12,372,000 36,388,000| 26,118.000 13,454,000 89,572,000
87,802,000 4,753,000 92,555,000! 09,523,000 3,695,000 103,218,000
38,887,000 12,106,000 50,993,000 85,408,000 12,471,000 47,879,000
13,600,000 14,178,000 27,776,000 11,062,000 6,558,000 17,620,000

Italy

15,451,000

1,494,000

16,945,000

14,978,000

2,330,000

3.755,000
2,910,000

5,877,000
1,455,000

9,632,000
4,365,000

4,314.000

6,706,000
1,537,000

Germany
Russia

Netherlands..
Nat.Belg'm...

3,073,000

17,308,000
11,020,000
4,610,000

Tot.thls week 292,705,613 98,939,093 391,644,705 298,906,803 95.230,152 394,136,955.
Tot. prev. w'k 291,742,548,99,755,929 391,498,477 298,035,781 94.765.150 392,800,931

CURRENCY REFORM ADVOCATED BY
EVERY BRANCH OF THE
GOVERNMENT.
The public now has before

it

the Senate's plan for a

system of financial reform as well as the House bill
that we discussed at considerable length last Saturday ; it also has this week been favored with the
message of the President and Secretary Gage's annual
report to Congress, in both of which the need, the
duty, and the propitious opportunity existing for currency reform are clearly and forcibly brought out.
Indeed, Secretary Gage's treatment of the problem is
in every way admirable, and if Congress were in the
mood to follow his suggestions the readjustment
would no doubt be more scientifically handled than it
will be.
And yet the fact that all departments of
the Government in any way connected with legislation
in relation to such affairs have on this occasion presented so united a front favoring a radical reform is
certainly an event of good omen.
The Senate bill does not in our opinion differ so
widely from the House bill as some seem inclined to
believe.
To understand its purport one must start
any study of that plan, as a whole, with the funding
provisions, which are really the controlling idea of the
measure and which to an extent modify other features.
That is to say, if the funding scheme were struck out
and the other objects sought in other parts of the
plan were retained, the Senate would necessarily fall
into the adoption of the first part of the House bill.
In this particular the difference which is on its face
most important is the omission in the Senate plan of
Both the
the second section of the House device.
Senate and House declare in substance, in the first
section of their respective measures, that the dollar
consisting of gold nine- tenths fine shall continue to
be the standard unit of value and all forms of money
issued or coined by the United States shall be main-

cables. Commercial on
and documents for payment 4 80:|^
banks
@4 81|; cotton for payment 4 80i@4 80^, cotton for tained at a parity of value with this standard; that
acceptance 4 81@4 811- and grain for payment 4 81^@ United States notes and Treasury notes of 1890, when
4 81^-.
presented for redemption, shall be redeemed in gold
for short

4 81 @4 81^

of such standard.

The following
to

and from the

movement of money
by New York banks.

gives the week's
interior

Week Ending December

8, 1809,

Currency
Gold
Total gold and legal tenders.

Received bv

Shipped by

Net Interior
Movement.

N. Y. Banks. N. Y. Banks.
$2,608,000
784,000

$4,770,000
1,894,000

Loss. $2,162,000

$3,892,000

$6,684,000

Loss. $3,272,000

I

OSS.

1,110,000

Thus

far ^the two proposals, as stated, are in ac-

cord, although

using dissimilar
point, however, the House bill,
foregoing, provides. Section 2,
bearing obligations of the United

ment

of

money now

tered into,

*

*

*

language.
in

At

this

addition to the

''that

all

interest-

States for the pay-

existing, or hereafter to be en-j
shall be

deemed and held

to be

Dbcemb£r

9,

THE CHKONICLE.

1899.]

payable in the gold coin of the United States," of the
standard above defined. If the Senate had no substitute answering in principle to these provisions; if
it had nothing plainly declaring that interest obligations of the United States were to be payable in gold
The truth is,
coin, its device would be very faulty.
it

adopted and elaborated after the rest of the bill was
published.
It is stated by Senator Aldrich that it
provides for an emergency issue of notes with both
speedy emission and contraction secured. When the
section is printed we shall be better able to understand

secures substantially the same end in equally em-

phatic language, only in another way. Its method for
attaining this purpose is (1) by providing a 3 per cent

bond, *' payable principal and interest in gold coin of
present standard of value," and exempt from all
taxes, to maintain the gold reserve whenever it shall
fall below $100,000,000; and (2), by its system of refunding, which provides for a 3 per cent gold bond to
be substituted for all the old issues except the overdue $25,000,000 of 2 per cents and the 4 per cents
due February 1 1925. In these ways, with the exceptions mentioned, the Senate has turned all outstanding
ments.

We

Government

securities

into

are not to be understood as favoring this

legislation with reference

now begun and

to these matters has

we assume, for
That is to say, the House will no
the present fixed.
doubt pass its own bill without amendment on the
day set for a vote, December 18; also there is good
reason for the belief that when the Hi use bill gets to
the character of

it is,

the Senate that body will substitute
that as

it

now

stands.

their present shape

House method,

method ment.

or as advocating this

According to
the way we look at it, a refunding scheme would be
as a political venture the most difficult portion of
either the House or Senate measure to defend. It
not only antagonizes those who are opposed to gold,
but also a larger class who would construe the feature
banks, and
as devised for the sole advantage of
another class who desire the debt paid and
still
would consequently be strongly averse to putting so
material a portion of the interest-bearing Government securities in a shape not redeemable exThen, too, so far as we
cept by purchase.
can see, no good end would be served by refunding.
If the new bonds could be made perpetual,
the idea might be urged by those who favored a
bond-secured currency that they would be always on
hand to perform that duty. But that inference does
not follow; they would not be continued any longer
than necessary. The opinion of the country is averse
to a perpetual debt; it would enforce the paying off
of the new twos even though it had to be done by
purchase. An effort was made once before to commit the public to a recognition of the sentiment that
a public debt was a public blessing; the effort met
with a decidedly unfavorable response at that time
and was followed by an increase in the rapidity of the
There is no reason to suppose that any
reductions.
different result would be the outcome now.
For the foregoing reasons, among others which might
be mentioned, we are inclined to think that the refunding feature will in the end be dropped. Assuming that
to be struck out and as a substitute the general provision of the House measure appended to the first

— to the effect that interest-bearing securinow existing and hereafter issued shall be payable in gold — we are of opinion that the next to the

section

all

ties

Senate bill would serve
the more useful measure. There are

section
it

But

merits.

its

plan and pass

Hence the two measures

may be expected

in

go to a conference committee, where neither body can in every
particular have its own device accepted.
We look,
however, with great confidence on the outcome. The
gold instru- prospect seems to be that the momentous questions

refunding feature of the Senate plan.

make

its

to

involved are in the way of a fairly satisfactory settle-

rather than the

last

1169

of

the

to

to

be sure provisions which the House Caucus Comthat
are
greatly to be
mittee have inserted
desired; as, for instance, those creating a separate division of the Treasury

with currency

affairs.

Department to exclusively deal
But the idea expressed in the

section referred to of the Senate plan

is

so essential to

We

do not believe that the perfected bill will
be precisely such a measure as we should prefer, but
we do believe that a measure will be secured which
will materially advance currency reform, and in some
important respects will settle, and settle correctly, the
great problem with which the country has been so
long struggling.

THE PRESIDENT ON THE PHILIPPINE
QUESTION.
It is generally recognized that^the discussion of

—

—

our

if they may be so called
of our colonial
the most important part of the President's
annual Message. What Mr. McKinley would have to

foreign and
affairs are

say regarding our relations with

European Powers was

defined in advance by the course of
events and the nature of public opinion.
It is there-

pretty plainly

the more gratifying to find his words of
friendship and good-will to the several foreign nafore

all

tions reciprocated by an expression of great cordiality

on their part.
This expression, it will be observed,
was not perfunctory. It may, indeed, be described as
a wholly novel incident in our history that the European Powers should be watching eagerly for the
statements of the official head of our Government regarding our attitude towards them, and should make
particular haste to grasp the outstretched hand.
Nowhere is this spirit exhibited more strikingly than in
Germany.
Mr. Choate has been criticized in some quarters

— quite unjustly,

we think

— as

giving some warrant

Thanksgiving banquet speech to the notion of an actual German- American alliance. As we
showed in our citation from the speech last week, our
Ambassador did nothing of the kind. He did not
in

his

indulge even in the somewhat rash use of diplomatic
terms which has brought criticism on Mr. Chamberlain's speech of the same day.
Mr. Choate's remarks
on the improbability of any breach of good understanding between ourselves and the great Continental
Power merely anticipated the President's assertion
that "in all that promises closer relations of intercourse and commerce and a better understanding between two races having so many traits in common,
Germany can be assured of the most cordial co-operation of this government and

people.

We may

be

any system of reform that the people can afford to rivals in many material paths, but our rivalry should
give up much rather than see it omitted.
We do not be generous and open, ever aiming toward the attainknow the wording of this section; the idea was ment of larger results and the mutually beneficial ad-

THE CHRONICLK

1170

[Vol. LXIX.

did not promise immediate independence to Aguinaldo, and the war with him was immediately provoked
ijilities."
at
Ameri- by an insurgent conspiracy to destroy the garrison
l^either remark will strike the average
the war until the armed
public opinion, as a Manila. We cannot now stop
'can, familiar with the trend of
be our enWhat they mean to insurrection is suppressed, but it should
novel or startling assertion.
the
the deavor, at the earliest feasible date, to entrust
XJermany is shown, however, very forcibly by
hands. In so doing, however,
German press and ministry. government to native
the
^•esponse of
up, letting the Fili von Biilow, the Ger- we must work from the bottom
^^'I regard the message," Count
government,
formal pinos first try their hand at municipal
Mian Foreign Minister, said next day in a
finally at a cenin the then at provincial government, and
statement, *'as an enunciation of great import
The tral government of the archipelago.
development of German- American friendship.
With these assertions, which we have separated
warm tone in which the President speaks of our mu.
discussion of the
impression, and from the much more voluminous
tual relations has created here the best
majority of Ameriexhibited by Message, we think that the great
people may be sure that the sympathies
important that
recipro- can readers will agree; and it is most
the President for Germany are here sincerely
American
coun- some such agreement should be reached by
Politically everything between the two
cated.
future provision for the
that disturbs the citizens, in order that the
is serene, and there is nothing
tries
It is
discussed.
the con- Philippines should be intelligently
entente cordiale. Economically considered,
of the future adthe hope plain that little profitable discussion
tents and tone of the message strengthen
had if one^ party
exports ministration of the islands could be
ihat the United States, with their increasing
seeking to
trade, regarded the American forces as invaders
will make fair concessions to German
io Germany,
independence, and
further con- deprive a native government of its
that the reciprocity negotiations will be
and
respects to
German the insurgents as a people competent in all
ducted in a friendly spirit to a good end." The
administration
set up a civilized and efficient central
strain.
newspapers spoke simultaneously in a similar
For ourselves, we have frankly exthis a similar re- of their own.
It is much that we can add to
that the
pressed our regret on previous occasions
from France, typified by the words of the consponse
believed
problem had been forced upon us. We have
Journal des Dehafs, whose comment was that
servative
might have been anticipated and
President McKinley's that the situation
^^we cannot but be touched by
and successfully than was
France and the dealt with more discreetly
allusion to the historic ties between
But that the duty of establishing and
interrupted. actually done.
United States, which have never been
Philippines from the motruth. maintaining order in the
not mere words of courtesy, but real
His were
downfall was our duty, an oblihostilities, ment of the Spanish
never existed the slightest desire for
There
humanity, to the natives
Spanish- gation on our part alike to
whatever may have been said during the
Powers
who had taken our part, and to the foreign
American war, which was merely press criticism
represented at Manila,
We are not sure that whose trade and citizens were
-occasionally carried too far."
omen we have never doubted.
we do not regard as in some ways the happiest
if
Nor has it seemed to us open to question that
foreign
the prompt admission, by these friendly
<of all,
existed against our provisional governof avoiding entang- insurrection
•critics, that the American policy
the Filipinos, and if friendly
President and ment among a faction of
ling alliances is recognized both by the
arrived at with the insurgents,
the European terms could not be
by foreign Powers. That practically all
in deference to the same
this then it became our business,
should be urgently endeavoring to win
nations
order by force of arms. A
that the obligations, to restore
^jountry's good will, while frankly confessing
citizens heartily wish that
of a very large portion of our
diplomatically far more valuable .achievement
never entangled us with!
question, the Spanish war had
formal American alliance is out of the
Perhaps a still larger portion!
the Philippines.
to us, very much to the internameans, it appears
Commissioners at Paris ever

vancement

of each in the line of its

tional situation generally.
If the President's remarks

especial adapta-

on our European
more than at
tions impressed the foreign reader

relafirst

the interest of all
sight they impressed Americans,
position rereaders will converge on the President's
<rarding our Phillipine policy.

that our Peace
Spain to the
stipulated transfer of the islands from
and the
United States. Bat the battle of Manila
facts which no
treaty of Paris are accomplished
does not
amount of regret or criticism can undo. It
or public
seem to us the part either of statesmanship
what is past and gone,
spirit to stand still, criticizing
its responsibiland refuse to confront the future and
endorse
this extent, therefore, we heartily

regret

Some such formal state-

highest responsi!^ment, under circumstances of the
The merits of the quesbility, was greatly needed.
public knowledge of ities. To
tion have been so confused, the
general position.
chances of an ill- the President's
the facts has been so vague, and the
We concur entirely, also, in his judgment that the
and therefore ill- conducted political dispute
grounded
suffrage and the administration to
that a extension of the
the question have been so formidable,
over
the lesser responsibilithe natives should begin with
attitude and purposes of our
plain statement of the
judiciously and by deties and thence be extended,
particularly timely.
Government is
Admiral Dewey's judgment
grees, to the greater.
summed up, the President's position regardBriefly
were better qualified for selfpos- was that the Filipinos
Philippines is as follows: We acquired
stress has
ing the
government than the Cubans, and much
a title fully recognized in
session of the islands by
But it is not always
this expert opinion.
We could not abandon control, been laid on that the central administration of Cuba
international law.
because to do this kept in mind
substituting a mere protectorate,
any means been handed over to the
the friendly has not yet by
involve, first, our surrender of
would
and that so far as governmental responsibility
insurgents, and second, natives,
the
natives to the mercies of the
it has been done in exactly
is entrusted to them,
native government in any forour protection of the
recommended by Mr. McKinley
without the experimental order
it should choose to invoke,
eign quarrel
We for the Philippines.
quarrel.
retention of the power to check such
I

December

THE

9,

THE CHRONICLE.

1899.]

SUPREME COURT AND THE CAST
IRON PIPE COMBINATION.

U. 8.

The United

iirr

the putting in of fictitious bids above that of the
member selected for the work by the other members^
of the combination.

Supreme Court has this week
The questions which the Court had to decide wer©
expected decision in the Addyston Pipe
(1) whether the grant of power in the Federal Consticase.
From first to last overmuch has been made of tution giving
to Congress the power to regulate coidthis case.
The Iron Pipe agreement has been treated merce with
foreign nations and among the seras if it were typical of the general order of trade comgiven

States

its

binations.

As

eral States applied to individuals

a matter of fact the ordinary

**

trust

or industrial property has hardly a point in common
with the arrangement into which the cast iron pipe

manufacturers

entered

when they conceived

scheme which the courts have condemned.

and corporations and
did the combination was a regulation
of Inter- State commerce bringing it within the prohibition of the Anti-Trust Law.
The District Court
(8)

whether

if it

the

in which the case was first heard refused to take the^
Por one view that the agreement
affected Inter-State com-

thing, the industrial undertakings are regularly incor

merce, but in this position it was not upheld by the U.
porated companies and not mere associations of sepaS. Circuit Court of Appeals, which reversed the
Districfc
rate and distinct concerns.
Nor can it even be Court and granted the
injunction asked for, and this
claimed that there is close analogy with the price comreversal is now sustained, except that it is stated the
binations that have frequently been found a necessity
decision is to be construed as applying to inter-State
in different lines of trade.

To make an agreement

or

business only.

Justice

Peckham, who delivered

thereach an understanding for the regulation of prices so
opinion of the Court, said that the plain language of
as to prevent ruinous strife and competition, and enthe grant to Congress of power to regulate commercesure a fair and reasonable profit to the manufacturer
among the several States includes power to legislate
instead of a loss, and to take all needful steps to that
upon the subject of those contracts in respect to interend, is a proceeding wholly justifiable and one which
State or foreign commerce which directly affect and
under State law at least has often been declared legal
regulate that commerce.
He declared the Court could'
and innocuous. For competitors, however, to go beyond
find no reasonable ground for asserting that the
Con^
this requirement and formulate a scheme involvstitutional provision as to the liberty of the individuing methods and devices which violate the most
al limits the extent of that power.
elementary principles of honest dealing, would seem
As to whether the agreement affected inter-State
indefensible from a moral as well as from a legal
commerce, he said the direct and immediate result of
standpoint.
What the courts have done is simply to the
combination was necessarily a restraint upon
declare illegal a peculiarly obnoxious combination of
inter-State commerce in respect of articles manufacthis kind.
We imagine no one will feel regret over tured by any of the
parties to it to be transported bethe outcome.
yond the State in which they were made. The de«The combination having been so vulnerable, interfendants by reason of this combination and agreement
est in the opinion of the Supreme Court converges
could only send their goods out of the State upon
the
mainly upon the Court's position with reference to
terms and pursuant to the provisions of such
combinaK
the two broad propositions which were presenfed
tion.
Was not that a direct restraint upon interfor its consideration.
We shall not weary the State commerce in those
goods ? The parties to the
reader by a lengthy repetition of the details of the
combination agreed to choose one of their number
to
plan by which the cast-iron pipe manufacturers sought
make a bid for the supply of pipe for delivery in anto control prices and trade.
We gave the facts at other State, and also agreed
that all the other bids,
length in our issue of February 19 1898 when the
should be for a larger sum, thus practically
restrictUnited States Circuit Court of Appeals rendered
ing all but the member chosen from any
attempt to
its
decision adverse
to
the
defendants, from supply the
demand for pipe or to enter into competi'which
the
present
appeal
was
taken
to tion for the business.
It is useless
the U. S. Supreme Court.
We also furnished to say, argues Justice Peckham, for the defendants
that they did not ina brief outline
of the features of the scheme
tend to regulate or affect inter- State
commerce;.
in our article
on the Financial Situation two
"They intended to make the very combination
and
weeks ago. Suflice it to say that the suit was brought
agreement which they in fact did make, and
they
by the United States Government under the Antimust be held to have intended the necessary
and diTrust Act of 1890 and the bill asked that an injuncrect result of their agreement."
tion be granted enjoining the corporations engaged in
The Court asserts that where the direct and
immethe manufacture of gas and water pipe from continudiate effect of a contract or combination
among paring to do business under the agreement into which
ticular dealers in a commodity is to
destroy compel
they had entered. There were six of these corporatition between them and others, so
that the parties to
tions, one of them
being the Addyston Pipe & the
contract or combination may obtain
increased
Steel Company of Cincinnati from which the case
gets prices for themselves, such
contract or combination
its name.
The agreement provided for a division of amounts
to a restraint of trade in the
commodity,
territory among the members of the combination
and even though contracts to buy such
commodity at the
for fixing the prices for the sale of pipe in thirty-six
enhanced price are continually being made.
Total
different States.
Whenever any municipality or party suppression
of the trade in the commodity,
it is deadvertised for bids within those States, the executive
clared, is not necessary in order to
render the comcommittee of the Association which was known as
bination one in restraint of trade. It is
the effect of
the "Associated Pipe Works"— met to determine the
the combination in limiting and restricting
the right
;price at which and the member by whom a
bid was of each of the members
to transact business in tbe
to be made.
The company which agreed to pay the ordinary
way, as well as its effect upon the volume
or
highest bonus to the association was awarded
the extent of the dealing in
the commodity, that is
right.
The scheme even went so far as to provide for
regarded.

—

THE CHRONICLE

1172
imponant

Court does not hold
that every private enterprise which may be carried on
chiefly or in part by means of inter-State shipments
is, therefore, to be regarded as related to inter- State
commerce so as to come within the regulating power
It

is

to note that the

[Vol.

LXIX.

opportune to state here that the adoption by
the United States Government of the policy of the
It is

''open door*' in

Cuba and

in the Philippine Islands

has again and again been referred to by Englishmen
in the hearing of the present writer, but always in

terms of respectful and warm gratification.
Lanin the Sugar Trust case, and says that such enter- guage of this kind is used by men whose interests are
prises may be of the same nature as the manufactur- in no way affected by the policy, and it proceeds not
ing of refined sugar ; that is, the parties may be only from the fact that this policy gives equal opporengaged as manufacturers of a commodity which they tunities for British trade in those parts of the world,
thereafter may send and possibly sell in another State. but also perhaps even more because it is consistent
Such sale, the Court has already held, is an incident with the claim to the open door in China, and is a
to and not the direct result of the manufacture, and proof of the earnestness and strength of the claim on
so is not a regulation of or an illegal interference with the part of the American people.
A marked increase has occurred within the last few
inter-State commerce.
Altogether, it will be seen,
the Court announces no new doctrine, but adheres months in the exports of British productions to the
West India islands formerly under Spanish rule. The
closely to the lines of its previous rulings.
measure ^of the increase is clearly shown in the
THE
CUSTOMS TARIFF— BRITISH quarterly statistics of foreign trade recently issued by
the Board of Trade. The monthly figures give ample
EXPORTS TO CUBA AND PORTO RICO-THE
details of imports and exports under the heads of the
MANCHESTER COTTON GOODS MARKET*
several kinds of merchandise, but only the quarterly
Manchester, November 25.
statements exhibit the aggregate amount of the inCopies have been received by Manchester merchants ward and outward trade with each country.
From
trading with Cuba of a memorial signed by a number the quarterly figures now published referring
to the
of importers in Havana and addressed to the Presi- nine months ended
on September 30th and from
dent of the United States recommending certain corresponding particulars of previous years, I have
changes in the customs tariff of Cuba. The most prepared the following table presenting the total
important of these suggestions is that the existing amount of the exports of British productions to
specific rates of import duty should be converted into
Cuba and Porto Rico in the three and the nine
ad valorem rates. Whatever may have been the mo- months of this and the five preceding years.
tive of this proposal, no doubt is entertained by merEXPORTS TO CUBA AND PORTO RICO.
chants here as to its effect. They say, quite openly,
Eliding September 30l/i.
that if it should be adopted at "Washington great enThree months.
Nine months
£
£
couragement will be given to fraudulent under- valua1894
308,169
836,560
tion of imports, and they say, as openly, that this 1895
224,038
628,353
199,821
512,680
practice will De carried on chiefly, if not entirely, in 1896
240,608
1897
480,605
respect of Spanish productions.
They further allege 1898
39.451
158,874=
that the Havana importers who have signed the 1899
457,068
920,594
memorial have very close personal and business relaThese figures show that up to the end of September
tions with Spain, and that it is no offense against the exports, particularly during the third quarter of
charity to suppose that an increase of imports into the present year, were considerably in excess of those
Cuba from that country will be the inevitable conse- in the corresponding periods of the years immediately
quence of substituting an elastic ad valorem system preceding the war. There are no means of determinof Congress.

Justice

Peckham

refers to the decision

—

—

CUBAN

—

-

for the

more

clearly

defined and certain

method

of

specific duties.

As a

rule English exporters

to foreign

markets are monthly

accustomed to urge one very obvious argument in
favor of the ad valorem system, viz. that it provides
for wide fluctuations of prices, and thus prevents the
duty from becoming either more or less onerous than
Thus if the original duty were
it was intended to be.
:

levied at the actual rate of 25 per cent,

ing the proportions of each principal kind of commodity represented in the foregoing fiofures, since the

its

statistics, in

so far as they give the destina-

merge the exports to
the wider group of "Foreign

tions of the several descriptions,

Cuba and Porto Rico in
West Indies." Indeed,

it

may be

well to sav paren-

by the
Board of Trade in the course of the year are only
incidence about one-eighth of the volume of the imposing
thetically that the periodical statements issued

would remain the same no matter how wide might be "Monthly Summary*' of American Commerce and
the fluctuations of price from time to time. But in Finance published by the Bureau of Statistics at
the event of a serious rise or fall of prices a specific Washington.
Only the "Annual Statement" of thi
OT flxed duty might become 20 or 15 per cent in the trade of the United Kingdom appearing in July o:
former case or 30 or more per cent in the latter. On the year following that to which it specially referi
the other hand, they fully share the view held by is sufficient to satisfy all the purposes of the com
many well-informed people in the United States that mercial statistician. That, however, is a great folio
in the absence of means of promptly and certainly de- volume of nearly 1,000 pages.
A careful examination
tecting undervaluation at the Custom House the ad of the statistics of the trade with Cuba and Porto
valorem method presents opportunities of fraud of Rico in the annual statement for past years leads to
which unscrupulous merchants will unhesitatingly the conclusion that about 30 per cent of the exports
make use. In the present case no doubt is enter- thither consists of cotton goods, the other principal
tained that the honest trader, from whatever country descriptions being machinery and metals.
Certainly
he may conduct his business with Cuba, will earnestly the Manchester merchants engaged in trade with
desire the retention of the specific rates of duty.

* Communloated by our Special Correspondent at Manchester.

these islands have been very busy in shipping textiles

during the

last

few months.

I

December

THE CHRONICLE.

9, I899.j

But the " Monthly Summary - for
August, the latest
received from Washington, shows
that the exports of
American cotton goods to Cuba and Porto
Rico have

also

eight

increased very largely this year.

months

ended

on

During the

August 31 they reached

«781,585, against $6,974 in the corresponding
period
of 1898 and $17,318 in that
of 1897.
Reckoned at
the same rate the exports
of cotton goods

from the

United States in the nine months
ended on Sept. 30
should amount to $879,283 or

1173

Fourth Quabteb.

P.

American Linen Co
Barnaby Manufatt'jf Co.'.!
Barnard Manufact'g Co..
Border City Man'f g Co.
Bourne Miiis
Chace Mills
Conanicut Mills
Cornell Mills

.'."

Davol Mills

"

!!"
!

!'

Totals.

a

2

of 1898.

FALL RIVER MILL DIVIDENDS IN

1899.

On

^^

900,000
600,000
550,000
247,500

^«
2

3

i

IH

750,000
550,000
'$20,058,500'

regular and 6 p. c. extra.
capital of $300,000.

i

+12,000

I

li^j

2

mi

2
6!^

'4-9.906

S!0,000|

26.000
.No Idlvldend.

9.000'

21.000

2

No

.No dividend.
1

j

1,170;.
18,0001.
12.000'

I

...

•

t6,0C0l

.No idiTidend.'

12,000
li^l
12,000;
SO.OOO
1.^.000
«,500 ,.No dividend.
+4,500
11,250 .No dividend. +11,250
e.ooo .No dividend.
+8,000
dividend
.No dividend.!
8,000 .No dividend.! +8,000
12,000 .No dividend. + 12,00«
10.000 mi4
12,60'
-2.500

8,000

-4-9,000

+16,000

.No dividend.
+1.170
.No dividend. +18.000
7,500

+4,.')00

8,260. .No dividend.
dividend. .No dividend
.3
95.000
20,000
7,000 66
15 00<
10,000 .•No dividend.
18,0no
5
15.000
22,500
13,125
15,000
1
7,500
8,250 .No dividend.

2
«
3
2

IX
2-40'

+8,250

.

2

300,000'
750,000!

-No dividend.

.

1

•No

•

1,000,000

350.000
500.000

Amount. Decrease

•

*7

800,0001
800,0001
78.000

p. c.

On

1*83,070

1-09I

-f76','00d

-8,000
+io,ooe
+3,000
+9,375
-r

7,5(0

18,250

$211,025 +272,045

+ 3 p. c. regular and 6>i p.
b On Cipital of -SioO.OflO.

c.

extra.

Combining the foregoing results with
those for the nine
months (published in the Chronicle Aug.

12, page 344) we
have the following exhibit for
the fall year.
It is seen
that on a capitalization of
$20,058,030 the mills have paid
out
dividends $1,201,327 in the present
year, or an average

m

^^"^ ''®°*' *^^*°^^ $467,700, or 3-41
per cent in 1898.
T
la fen? the average dividend
1897
was 8'39 per cent, in 1896 it was
6-12 per cent and in 1895 reached
8'13 per cent

Vears

mag-

nitude should be done. English
spinners, notwithstanding their disbelief in short
American crop estimates, have bought more freely
within the last four
weeks than they have done since
May and June last,
but as a rule they cling to the
opinion that the prolonged continuance of light receipts
at the ports is to
be explained on other grounds
than that the crop of
1899 IS very greatly less than the yield

300,000
750,000
800,000
288,000
400,000
600,000
800,000

C.\

-14,066
+11.830
2,40'
No .'dividend.! +2,400
28,0ii0
^
^,00ui +30.000
«,000'
2
8.000
-2.000
11,600
3
17.400
-S.bOO
20,000 ..No dividend. +20.00G

800,000

Stevens Manufactur'g Co
Very little, if any, improvement,
has occurred in Tecumseh Mills ...
Troy Cot. & W. Mfg. Co.!
the Manchester market for
cotton goods and yarns Dnion Cotton M'f'g Co
Wampanoag Mills
during the last month. The
sales have certainly Weetamoe Mills

*

2

6,0C0
0,900
20.000
12,000
11.250

3

1,000,000

Stafford Mills

Prices have, however, been fairly
well sustained, partly
because the orders unexecuted
in the hands of spinners and manufacturers
were already very heavy,
many of them extending to the spring
months of next
year, and paitly because of
the firmness and the upward
tendency in the cotton market.
It is thought that
the support derived from
the former source may
afford much strength to
prices until well on in the
month of January, but that it will then
become much
weaker, unless in the meantime
fresh business of

12.00C

or

Amount. P.

I

580,000
1,000,000

.'.'.'.

0.

11^

$800,000
400.000
i95,00O
1,000,000
400,000
750,000
120,000
400,000
400,0001

Flint Mills
Granite Mills
Hargraves Mills
King Philip Mills
Laurel Lake Mills
Mechanics' Mills

Merchants'
£175,856. The exports Metacomet Manufac'gCo
Man'f 'g Co..
of British cotton goods
Narragansett
during the nine months to the Osborn Mills Mills
."
Parker Mill
whole of the Foreign West Indies
were £411,454, and Pocasset Manufact'g Co"'
Richard Borden M'f'g Co
of this amount probably not
Robeson
much less than £300,000 SagamoreMills....
Mfg. Co....!.'"
may be assumed to be the share of
Seaconnet Mills
Cuba and Porto Shove Mills
Slade Mills
Kico.

fallen considerably short
of the rate of production.

IXmidends 1899, Dividends 1898.
Inereeue

Capital.

1899 and 1898.

1809

iDividends

American Linen Co
Barnaby Manufact'g

P. CI
Co...

Barnard Manufact'g Co.
Border City Manuf'g Co

Bourne Mills
Chace Mills
Conanicut Mills....
Cornell Mills
Davol Mills

$800,000
400,000
495,000
1,000,00
400,000
730,000
120,000

"

"

400,0(10

400,00f

Flint Mills
Granite Mills

181)9.

Capital.

and 1898.

580,000
'

!!!

1,000.000

Hargraves Mills..
King Philip Mills....!!!"
Laurel Lake Mills

or

Amount. Decreatt

V.

I

$36,000
1
$8,000 +28.000
24,000
IH
6.C00 +18,000
16,C87 •No dividend
+16.087
60,000
4
40,000] +20,000
o., ^.„i
7
28,000
8
32.000
-4,000
»a
38,750 .No dividend. +33,750
6,600
No dividend
+6.600
12H
50,000
5
20.OOO1 -f 30.000
22,000
4
16,000
+6,ooe
34,800
4
23,200 +11.600
8
60,000
1
10,00(
+50.000
48,000
6
4«,000
7^1
76,00u
4^
45,000 +i5'().'<KJ6
11,250
No dividend.! +11.850
5
37,500
No dividend.! +37,600
1
8,000
No dividend
+8,000
,.No dividend.] ..No dividend.
5
20,000
1
4,000 +i«,'o66
6
:^ 0,000
..No dividend. +30,000
aoM
31,260
5
26.C00
+«'.260
thi
33.000 ..No dividend. +88,000
60.000
7H
3
?*.(0(/( +86,000
3
2,340 ..No dividend.'
+2,!»40
5ii
49,500
No dividend +49,500
6
36,000
i 1.000
+16,00«
2k
13,750
No dividend, +18,76»

3M

I

I

.

Mechanics' Mills
Merchants' Manuf'g Co..
Metacomet Manuf'g Co.
Narragansett Mills
Osborn .Mills
Parker Mill
Pocasset Manuf'g Co...
Richard Borden Mfg. Co
Robeson Mills

Dividend* 1898. IncretU4

Amount. P.

,

.

800,000
1,000,000
.,^,^„
300,000
750 000

800 000
288,000
400.000
600,000
800.000
600.000
800.000
78,000
900.000

the whole the year 1899 has furnished
Sagamore Manuf'g Co
^...
satisfactoiy r.
°
suits to those engaged in the
Mills
!!
600.0001
cotton-manafacturing industry iT^e^txl
550.000
it the North, and this is
247,500 .No dividend.
especially true when comparison is &o^'^\
No dividend.
J .000.000
14
140,000
4
40,000 +100,000
made with the return received on
Stevens Manufact'n'r'gCo
350.000! 68
8
22,000
the capital invested in Tecumseh Mills
20,000
+8,000
500.000;
5
26,000
No dividend. +^5,000
.898 and 1897. This year the Fall River
Troy Cot. & W. Mf'g.'co!!
300,000 in
54,000 11
corporations which Union Cotton Man'f 'g Co
33.000 +21,000
750,000
63,760
|2iake public their financial
45.000 +1S,7S0
affairs have with two excepticns Wampanoag Mills.
750,000
4S,000
1
7,500 -t 37,500
Weetamoe Mills...
550,000
nade distribution of profits among the
24.760 ..No dividend. +24,750
shareholders, and in a
Totals
....'$20,058,500 5-99l$l,20],327
lumber of instances the dividend rate
2-4ll $lR7,700'+733,627
has been quite large
' iH per cent on
.>n the other hand
$500,000; IJ^ on $750,000.
last year fifteen mills passed
dividends
o Hi per cent on $500,000; IJ^ on $800,(00
•ntirely and many of the
b 6 per cent on $250,000; 2 on $350,000others paid out an exceedingly
man amount. In 1897, also, the owners received
little from
Here we see that two mills have declared no
he year's operations.
dividends—
the Metacomet Mfg. Co. and the Slade mills.
Of the remainThe cotton goods market this year
furnishes a strong con- ing thirty-two mills
all but two have paid out more than
rastto the conditions experienced
a
in 1898. Instead of a year ago, and
in a number of instances the increase is
«riod of greatly restricted profit
appreand curtailed production ciable. To furnish
a more comprehensive comparison we
^e have had a year of
active operations at remunerative have
compiled the following, which embraces the years
nces. Tne print cloth industry-the
back
cotton goods baro- to 1886
leter-has all along been in excellent
shape, with stocks
Companies.
Dividends.
rellinhand,and prices have advanced at
Xitmber.
Capital.
Atnount.
an even greater Tears.
P. G.
1899...
itio than has the raw
34
$20,058,500
5-99
$1,201,327
material. On Jan. 1 regular 64
1898...
34
19,408,000
luares were quoted at 2%c., were
2-41
467,700
marked up to 23^c on 1897...
37
22,793,000
3-39
772,700
»e 20th of February,
27^c. on October 11, 3c. on Novem- 1896...
37
22,629,000
1.385,675
612
ar 21 and a further rise
1895...
to 3i^c. occurred December 1.
36
21,828,000
8-12
1,772,925
1894 ..
Dividends this year have been progressive
35
21,t78,00a
5-25
1,123,000
as a result
..

!

:

,

>

of

1893...
35
continued improvement in prices. For
21,278.000
1.706,310
8 02
the first quarter 1892...
34
19,858,000
1.492.260
7-52
88 than one per cent was distributed, in
the second quarter 1891...
33
18,558.000
4-93
914.850
lareholders received nearly l}i per
cent" and for the third 1890...
33
18,658,000
7-62
1.420.870
larter only a little short of
1889...,
33
18.558.000
IJ^ per cent was paid out
1,950,700
9-97
1888....
nally, daring the last quarter,
33
17.608,000
1,696,040
963
thirty-four mills have de1887....
33
17,204,700
ared dividends averaging 2-40 per
1,427,990
8-30
cent on the capital in
18S6....
33
16,116,200
1,047,550
6-50
sted, against only 1-09 per cent
in 1898, 0-89 per cent in
As showing the relation this year's dividends in the case of
97,1-38 per cent in 1896 and 2-07
per cent in 1895
The individual mills bear to those for a series of
years, we have
tails for the fourth quarter of
1899 are as follows, compariprepared the following, which embraces eighteen
tt being made
of the
with the like period of 1898:
le

leading corporations.

The

intention

is

to

compare

this

THE CHRONICLE.

1174

cent for the previous
year's ratio with the average rate per
nine years:
Av&raQt
9 vears
1891
189?. 189» 1897. 1898. 1895. 1894. 1898. 1892.

Amer. Linen Co. ...
Barnaby Mfg. Co..

*V6

4

6

1

2«

1
4

7

7

4

7«

IM

1

6
Border C'y Mfg.Co. 6
6
Ohace MUIs

8

17><

7

9
6

14
9
10

1890.'90-'98.

4 1-8

1

7

6

7«
0«

6
8
6
21

8

12

i%

7«

13
7

16
7

2

7

6M

King PhlUp Mills. 7\4
Laurel Lake Mills. 3M

e

6

6

6

6

5%

a

5«

7h6

6«

Mechanics' Mills... 6
Merchants' Mfg.Co 1
Narragansett Mills 5

3

7

6^

6

6

7

8
6

7%

2

9

7

6

8

5

7\i

5

5

7

8

7

6

7

e
7

4!^

6
5
6

4«

7%

Granite Mills

Osbom

1

7
7
7
25

i

6

8

11

4
15

1

4

6

Mills

B. Borden Mfg. Co. 7J4
Sagamore Mfg. Co. 5^

S

Stafford Mills

U

5
Tecumseh Mills
TroyC&W.Mfg.ColS
.

.

Un. Cot. Mfg.Co...

Wampanoag

8)4

Mills. 6

6

6
1

3

25
»
6)4
7
S

28
11

8

10

7

6
17
9
6

12

7^
20
12
7

6

10^

6

6>i

7«

5

8

7

5

13

8

6>i
14

12
5

12
1

18

9%

9

9 1-3
6
5 1-3

t%
5 2-3
5 1-3

than twenty
3l8tant Treasurer of the United States in sums of not less
fle,nomit.ations of not
dollars, and to issue gold certificates therefor in
shall be retain^
less than twenty dollars, and the com so deposited
certilicates on dein the Treasury and held for the payment of such
he remand, and used for no other purpose. Such certittcates shall
so received
ceivable lor customs, taxes and all public dues, and when association
mav be re-issued, and when held by any national banking
may be counted as a part of its lawful reserve: so'd coin held the
Provided, That whenever and so long as the
States notes
reserve fuodof the Treasury for the redemption of United authority to
Treasury notes shall fall below $100,000,000. the

m

suspended; a';d Provided
issue certittcates as herein provided shall be
onethat of the amount of such outstanding oertiflcates and
further,
dollars or less;
at le^st shall be in denominations of fifty
fourth
in his disprovided further, that the Secretary ot the Treasury may,
payable
issue such certificates in denominations of $10.00(>.
CTelin
of the United
order. And Section 5193 of the Revised Statutes
to
States is hereby repealed.

DENOMINATIONS OF NOTES.

5 2-3
5

7H
7M
i-9

7-9
1-3

5 9

indicates that the average year's rate of disabove the average for the preceding nine years in

The foregoing

LXIX,

and

5«

5
16
10
6

[Vol.

notes
That from and after the passage of this Act no United States less
denominations
or Treasury notes shall he issued or re-issued of
lo^^^^r denominathan ten dollars, and all such outstanding notes of a deemed, be canor if
tion shall, whenever received at the Treasury
"P'^ani shall be
celed, and notes of denominations of ten dollars or
hereafter issued
substituted therefor. No silver certificates shall be
all such outstanamg
of a higher denomination th.an ten dollars, and
whenever received at the
certittcat, s of a higher denominaiion shall,
Treasury or redeeiued, be retir. d and canceled, and notes of denominations of ten dollars or less shall be substituted therefor.

REFUNDING.

tribution is
nine instances.

receive at the
The secretary of the Treasury is lierebyatithorized toS^ate« bearmg
any of the outstanding bonds of the United
Treasury
Shortly after the middle of October the operatives in the interest at 5 per cent per annum, payable February 1. 190 4, and any
P^,^
the United States bearmc Interest at
Fall River mills made demands for an increase in wages of or the bonds of July 1. 1907, and any bonds of the f.Pff ^^^i
Uuited States
annum, payable
1908.
payable August
ten per cent, and after frequent conferences the manufact- bearing interest at 3 per cent per annum,rejiistered bonds1,of tne
therefor coupon or
November 24 to an advance of five per audtoissueinexchHuge as he may prescribe, in denominations or
urers finally agreed
United States, in such form
at t^e rate ol^
the 29th of November, flfty d..llars or any multiple thereof, bearing interest to I'e
cent on and after December 11.
pay^°i® *',
cent per annum, i.ayable quarterly, siich bonds
per
the date of
however, the Fall River Iron Works Co., a corporation out
he pleasure of the United States after thirty years from interest'
and
principal
their iSHU-.. and s«id bonds to be payable,
side of the Manufacturers' Association, voluntarily granted eo'rt coin of t>e present sfandard value, and to be exempt from the
United States as we 1 as fro^
all taxes
an increase of ten per cent to go into effect Monday, Dec. 4. layment ofany form byor duties of the municipal or local authority.
or under State,
taxation in
r*^ceived n
As a result of this action the Manufacturers' Association
Provided: That none of such outstanding bonds shall be
worth to yield
a such exchange at a valuation greater thanthelrprrsent shall he issuea
Committee invited the representatives of the operatives to
an income of 'i^* per centum per annum, and said bonds
further conference on December 1 and amended their formt^r at notTss than par; and provided further Taat «"<^b tbt-ir issue, and
'I'^Jr
,ued shall be numbered consecutively in the order of
proposition by making the increase ten per cent instead ot when paym. nt is made the last numbers issued shall be Arst P"'d, and
bonds are I'f'd. and whenever
The movement to advance wages has since become this order shall be followed until all the for Payment, interest thereon
five.
any of the ontstHuding b nds are called
England, upwards of 100,000 operat- shall cease three mouths after such call; and provided further. That
general throughout
Ue Secretary of the reas ry may. In his dl'-eretion pay out of any
ives having already been notified of a ten-per-cent addition. iiionev in the Treasury not otherwise appropriated the difference peas'aforesaW, of the outstandiDg
i" een the present worth, computed
this Act and
bonds surrendered in accordance with the provisions.of
their par value.

On

?Ze

New

i

THE SENATE CURRENCY

BILL.

NATIONAL BANK OIRCUL '»TION.
bonds of
That upon deposit by national banking associations of any '^ib oi
51o9 and
the Uuited States, under the provisions of Sections
be

the text of the Currency Bill prepared by
^^^^^l^^'^ns shall
tSe Revised Stattites of the United States, such
the Senate Finance Committee daring the recess of Con
Currency circulating
entitled to receive from the Comptroller of t^^e
.registered and counternote<» of diflerent denominations in blank,
gress and introduced in the Senate this week:
value to the par
signed as pr-vided by existing law. equal in face
A BILL TO AFFIRM THE EXISTING STANDARD OF VALDE, TO MAIN- value of the bonds so deposited; and national banking associations
less
TAIN THE Pakity in Value of All Forms of Monet, to Refund low having bonds on deposit for the security of circulating notes
or which m-y hereafter
THB Public Debt, and for Other Pdeposes.
Tn fa< e value than the par value of the bonds,
application to
kave such bonds on deposit, shall be entitled, npon due
THE standard OF VALUE.
circulating
the Comptroller of the Currency, to receive additional
increase the aggregate valtie
Be it enactfd, etc., that the dollar consisting of twenty-five and notes in blank to an amount which will
such associations to the par value of
eight-tenths grains of gold nine-tenths fine shall, as established by Sf the circulating notes held by
additional notes to beheld and treated in
Section 3511 of the Revised Statutes of the United States, continue the bonds depos?ted, such
notes of national banking associations
to be the standard unit of value, and all forms of money issued or the saine yvay as circulating
to all the Pr^i^'^nso existing law
ooired by the United States shall be maintained at a parity of value heretoforrissued, and subject that nothing herein contained shall be
notes issued affecting such notes, provided,
with this standard, and United States notes and Treasury
provisions of sections .5167 and
underthe Act of July 14, 1890, and when presented to the Treasury construed to modify or repeal the the United States authorizing the
Revised Statutes of
such standard.
517, of the
for redemption, shall be redeemed in gold coin of
bonds
compiroUer of the Currency to require additional deposits ofheld to
I'onds
RESERVE FUND— authority TO ISSUE BONDS.
lawful money in case the market value of the
or of

The following

is

'

shallbe theduty of the Secretary ot the Treasury, in order
to secure the prompt and certain redemption of the United States
notes and Treasury notes hereinbefore provided, to set apart in
the Treasury a reserve fund of $150,000.0 O in gold coin, which fund
shall be used lor fuch redemption purnoses only, and whenever ad
as often as any of said notes shall be redeemed from said fund it shall
be the duiy of the Secretary of the Treasury to use said notes so redeemed to testore ant maintain such leserve fund in the manner following, to wit: (1) By exchanging the notes so redeemed for any gold
coin in the general fund ol the Treasury; (2) by accepting deposits ot
Sub-Treasury in exchanging for the
fold coin atthe Treasury or any
Tnited States notes so redeemed; i3) by proi uring gold com by the
use of said notes, in accordance wlih the provisions of Section 3700
of thf R-vised S'atutesof the United States. If the Secretary of the
Treasury is unable to restore and maintain the gold coin in the reserve fund by til.' foregolLg methods aid the amount of such gold
coin in said fund shall at any time fall below $100.00i',000. then it
shall be his duty t'> restore and maintain the same by borrowing
money on the credit of the United States and for the debt thus incurred to issue and sell coupon or registered bonds of the United
States in such form as he may prescribe, in denominations of nfty dollars or any luuitiple thereof, bearing interest atthe rate of not exceeding 3 per centum per annuuQ payabl- quarterly, such bonds to be
payable at the pleasure of the United States after one year from the
date of their issue, and to be payable, principal and interest, in gold
coin of the present standard value, and to oe exempt from the payment of all taxes or duties of the United States, as well as from taxation in any form by or under State, munioipal or local authority. The
note- redeemed ashernin provided sh 11 only be used for the purpose
of restoilng said fund to tlie maximum amount of $1^0,000,000, and
the amount of gold coin and notes in such reserve fund shall at no
time exceed such maximum amount.

That

it

redemption of TREASURY NOTES,
shall be the duty of the Secretary of the Treasury as fast as
standard silver dollars are coined under the provisions of the Acts of
July, 11, 1890, and Ju e 13. 1-9S, from bullion purcliased under the
Act of July 14, 1890, to retire and cancel an equ«l amount of Treasury
notes w henever recei> ed into the Treasury, either by exchani/e in ao^
cordan- e " itti the provisi<'ns of this Act or in the ordinary course of
business, and, up'u the cancellation of Treasury notes, silver oertinoaies shall be issued against the silver dollars so coined.

That

It

GOLD certificates.
is hereby authorized and di
with the Treasurer or any As-

That the Secretary of the Treasury
reotttd to receive deposits ot gold coin

below the par va ue of the cirousuch bonds may be deposited as
t«
/"^n^^^l^
tecurUy and provided tlirther. that the circulating ««*;«this Act shall
of
national banking associations under the Proyisions
except that no
be of the denominations prescribed by existing law, of this Act. be
natinal banking association shall, after tlie P««sage
s cure the circulating notes shall fall
luti. gnotes outstanding for which

in circulation any
entitled to receive or to issue or reissue or Plac«
and provideo,
eirrulating notes of a less denomination th<in $10;
total amount of such notes Issued to
f urther ?hat at no time shall the
its capital
any such association exceed the amount at such time of

stock actually paid

in.

TAX ON circulation.
deposit, as proThat every national banking association having on
bonds of the
videu by sectioos 6159 and 5160 of the Revised Statutes, per annuin
per centum
Uuited States bearing Interest at the rate of 2 Treasurer of the Uni^^^^
to secSre its circulating notes, sh*ll pay to the
tax of one-fourth or i
States, in the months of January and J.ly, a
of such of its
per entum eaoh half-year upon the average amount
said 2 per centum
circulating notes as are based upon the deposit of
taxes on its circu
bonds, and such taxes shall be in lieu of existing Statutes.
lating notes imposed by Section 5214 of the Revised
.

state that after the bill had been printed
which met
Senator Aldrich decided to add two provisions,
Republican members of the
of all the

The newspapers

with the approval
for the
Finance Committee. The first of these provides
to meet
speedy issue and withdrawal of bank currency
may
emergencies, and to effect that purpose the restriction
instructed
be repealed and the Comptroller of the Currency
of bank notes so as to
at all times to keep on hand a supply
application. The
respond immediately to any bank making

of the Act
other addition provides for the repeal of Section 10
of notes to 90 per
of July 12, 1882, limiting the circulation
cent of the bonds
cent of the capital stock, as well as 90 per
clause is necessary to make the
deposited. This repealing
bank circulaproposed provision relating to the amount of

tion effective.

December

9,

THE CHRONICI.E.

1899.]

ITEMS ABOUT BANKS, BANKERS AND
TRUST GO'S

President

— The

The

points respectively

BANKS-iVew York.
100 Commprce, National Bank of
10 Corn Exchange Rank ...
^i'^Dhattan
in Merchants' Co., Bank of the...;;;;."
10
National

Bank

Price

260
tjiia
26^14
175it

Last previous

'99- v.siaf,
Nov. '99— 375 14
'99— 263
Nov.
Oct. '99— 17(>i2

Oct.

Nov
S

2! ^i^^on^airA^^Co

i'

promptly proceeded to remedy.
This accomplished, he began to
avail himself of the wellestablished reputation of the institution
to broaden its field
Inasmuch as he and the Taylor estate
owned a controlling
interest and. moreover, as the
representatives of this

^o^: 'ttz rok"^

unuKr &i-co:::;:::::::::a^ii

'<)9.^^

S^qt
^^.^9^8

IZ 'llz.V^o^,

-The most

important event in banking circles has been
the
announcement on Saturday by James Stillman,'the
President
of the National City Bank,
that the directors at a recent
meeting had decided to recommend
to the stockholders an
increase of the capital

$404,000 000
in so strong a posi'tion

it seemed to
lack the efficient organization
necessary in such an institution
a defect tnat Mr. Stillman

sal''.

226-230
01^7

100

be

While the bank was

19 America. Trust Co, of
5 Bankers' Trust Co

•••••-•--•-•

November 17, 1^9 succeediug Mr. Percj R.
Pyne.
was strong and indeed it could hardly

institution

otherwise from Having been under
the management for so
many years of Moses Tayler and, later,
of Mr. Pyne. Its
high position then is indicated by
the fact that its surplus
and undivided profits were
$2,24^,500, while its deposits were
on July 3, $12,395,000, and these
were comparatively large
considering the fact that the deposits
of all the associated
Danks at that time were only about

More than half the total number of shares
traded in is
comprised in two items, 100 shares of
National Bank of Commerce at 260 and 100 shares United States
Trust Company at
IbSO. with advances over
the last previous sales of 5^4 and

Shares.

75

,

auction sales of bank stocks this week
aggregate
130 shares. No sales were made
at the Stock Exchange
Ihe sales of trust company stocks reach
a total of 184
shares and were all made at auction.

29%

1

estate

though directors, were not active in
the management, the
work of developing its resources largely fell
upon Mr. Stillman. Gradually, however, he called to
his aid in the board
of directors men of large
means and of important business
and financial interests, such, for example,
as Robert Bacon,
of J. P. Morgan & Co.; H. O.
Havemeyer, William Rockefeller, and, latterly, Mr.
Jacob H. S.hiff, and thus surrounded by these and other councilors
eminent in the world
of finance the business of the
bank broadeied and its patronage increased. All this is indicated
by the fact that the
deposit line rose from $12,395,000
in 1891 to $22,000 (00 in
1896, §80,000,000 at the end of 1898 and
$145,000,000 in May of

from $1,000,000 to $10,000,000. In a
statement accompanying the
announcement, among the reasons assigned for the action,
the chief was the restriction of
the National Bank Act, by
which national institutions are
forbidden to make a direct loan of
more than one-tenth of
their capital to any firm,
person or corporation. This re- the current
year.
striction applies to collateral
loans, and it is such loans for
These rapid strides,
which
there

the greatest demand. The increase
of the foreign and domestic business of
the bank during the past few
years has been stated as another
reason for increasing the
capital.
Action will be taken by the
stockholders, at a
meeting to be held January
2, upon the proposition of the
directors, and there is very
little doubt that the recommendation for an increase will be adopted.
Should this be
the result, the capital will
be $10,000,000 and the surplus
about |o 000,000 (it is now
|4,938,665), making the capital and
surplus $15,000,000, the largest
capitalization of any ba.k
*J%c^untry, and the largest, with the exception of
the
R
Bant of Montreal, which has a capital
of $12,000,000 and a
reserve of $6,000,000, of any bank
on the Continent of
is

though, long

Stillman has

felt that the services of his

councilors in the board
of directors-themselves representing
large individual and corporate interests which had prior claims
upon them-were but
111 requited by their extremely
limited interest in

the bank
They were devoting much of
their time to the building up of
the business of the bank
with but small hope of pecuniary reward
for their labor'
The problem of how to provide for this
enormous increase in
business and as an incident of how
adequately to satisfy the
just claims of these directors and provide
for the permanency
of the bank's growth was long studied,
frequently discussed,
and finally solved by the decision to increase
the capital.
The necessity for such increase became
more apparent
when the bank bought the Custom House building,
and

North through ownership of

America.

The circular accompanying the proposition
for an increase
Of capital gives the present
directors of the bank the credit
for Its success. It calls
attention to the fact that the directors have not an interest in
the bank commensurate with their
efforts in its behalf, and that
they ought to receive some
recognition of their services by
the stockholders. To this
end they should have the privilege
of subscribing for a
reasonable portion of the new capital
at a fair price without
being charged with the good-will
which owes its existence so
^^'" '^^'*'- ^* i« consequentlv proposed
ll'fL ^\
that the shareholders shall
have the privilege of subscribing to 85 per cent of
the new stock
at par
While the board of directors
to be elected in
Jannary shall be permitted to
subscribe to the remaining
15 per cent of the new capital, together
with any shares not
subscribed for, at a price equal to
the amount which would
be realized upon those shares were
the bank to be wound up
in other words, the directors
will get the portion allotted
to them at the actual value as it
appears upon the^ooks of
P'"'""* ^°°^ ^*^'^^' '^ °^*y be noted, is
So.«7 per share; when the
fO»d 87
new stock ($9,000,000) is added
It will be about $149
per share. The price at which the
directors are to be permitted to
subscribe for the 15 per cent
of stock set apart fi.r this purpose is
stated at $150 per share
The $50 per share premium thereby received
is to be divided
among the present stockholders, which will
reduce the co^t
of the new stock to these shareholders
to about $91 per share
Hence the directors will pay about 65 per
cent more for their
stock than the shareholders pay.
The distribution is to be
made by Mr. Henry Parish as trustee.
Doubtless a more correct popular view
of the motives
which actuated the management in proposing
to the stockIholders to increase the capital of
the National City Bank will
be obtained from a brief review of
the recent history of the
jbank than by the simple facts
presented in the above-noted
announcement to the stockholders. Mr.
James Stillman
who was already a director of the City Bank,
was elected

?^

I

it may be noted, would not
have been
possible without labor on the part of
the active directors. It
should be said, however, that the
bank's improvement was
greatly due to intelligent management
by the President himself-a man of large means and having
extensive financial interests in this city and throughout
the country, which interests. It may be observed, were
made contributory to the success of the institution with which
his father and his intimate
friends had been for many years
identified. Mr.

stock.

the

committee having the negotiations in charge then
submitted
arguments
favor of the augmentation of the capital
which
were so convincing that they were unanimously
adopted by
their associates on the board of
directors.
The principal
members of the committee under whose direction the
plan
for the increase of capital was formulated
were Messrs. Samuel Sloan, William Rockefeller, Jacob
H. Schiff, Henry Taylor, President Stillman, Jobn
W. Sterling, and in consulta-

m

Henry R. Parish, President of the New York Life
In& Trust Compat y.
Through this augmented capital several beneficial
results
will thus be attained. Prominent among
these the ownertion,

surance

ship of stock by the directors will be
increased. Also it is
expected that much view business can be brought
to the institution through inducements which
the enlarged capital
will from time to time enable the bank
to offer to reprepentatives of large interests, and in this way the
sp* ere of iifluence of the institution may be extended. Indeed
the possibilities would seem to open a large field
for the legitimate
expansion of the bank through its incr^a8ed capital,
influential management and active directorate.
With the control
of a majority of the present stock vested,
as it is, in Mr.

Stillman and in the Taylor estate, and with the
advantageous
terms on which the new &tock is offered, it; is quite
certain
that the plan will be a success and will meet
with general
approval.

—A new financial institution, to be

known as the MercanTrust Company, has been organized at St. Louis.
Mo.,
with a capital of $750,000 and a paid-in surplus of
tile

|&00,00o'

IHE CHRONICLE.

117H
Festtw J.

Wade is

President;

[Vol. LXIX.

Corwin H. Spencer, First Vice- income given below

President; Lorenzo E. Anderson, Second Vice-President;
Jonathan Rice, Third Vice-President; George W. Wilson,
Treasurer; William Moffitt, Assistant Treasurer; C. H. McMillan, Secretary, and J. B. Moberly, A-ssistant Secretary.

in the

form of

and dividend

interest

payments.

will transact a general trust company business, and in addition thereto will have a real estate department continuing the business of the Anderson- Wade Realty

The company

The report shows that the total net income of the operatmg
railways included therein was $504,001,547. The total deductions from income, embracing by the term interest on

funded debt, rents for leased lines, taxes ($44,165,714) and
various other charges against income, but not including dividends, were $371,018,518. This amount is $11,827,847 greater
than the corresponding figures for the complete statistical
report for 1898. The aggregate amount of dividends df clared
by the operating railways under consideration was $82,214,The comparative amount of dividends reported for the
820.
previous year was $66,039,465. The combination of the foregoing items results in showing a surplus of $50,768,209 from
the operations of railways during the year ending June 30,
United
1899, or about 98 per cent of the mileage in the
The corresponding preliminary report for the
States.

Company, one of the largest concerns in the West.
—The Century '.National Bank is the name of a new institution which is being organized at Cleveland, O., with a capThe of&cers are: D. H. Kimberly, President;
ital of $500,000.
D. A. Dangler, Vice-President, and D. B. Beers, Cashier.
—The Superintendent of the State Bank Department has previous year, covering 181,333 miles of line, showed a surdesignated the Trust Company of America as a depository plus of $42,604,999.
, .
^^. ^
tte
It should be understood, the Commission state, that
for the lawful money reserve of the banks of the State of
restricted to the income accounts of the
present report, being
New York.
operating roads, does not include the fixed charges and divi.

.

appointed at the conference of dends of subsidiary roads operated under lease, since the inClearing Houses, which was held at Cleveland, Ohio, concur- come from which thev are paid is derived from the rents inincome of the operating roads
rently with the last annual convention of the American cluded in the charges against the
Bankers' Association, have after mature deliberation made
Clearings by Telegraph.— Sales of Stocks, Bonds, &c.—
their report and recommended the adoption, by ClearingThe subjoined table, covering clearings for the current week,
House associations of the United States of measures for the usually appears on the first page of the Chronicle, but on
regulation of the collection of country checks at proper rates. account of the length of the other tables is crowded out
telegraph from
The committee also recommend the adoption by clearing once a month. The figures are received by compared with
It will be observed that as
leading cities.
houses of the by-law which was agreed to by the above con- the
in the
the corresponding week of 1893 there is an increase
ference, empowering Clearing- House associations to establish aggregate of 16-7 per cent. So far as the individual cities are
cent,
rules and regulations for such collections. This by-law, it concerned. New York exhibits an increase of 21-1 per
Boston 21-0 per cent,
maybe noted, was printed in this column September 23. and the gains at other points are: 6-3 per cent and Chicago
Philadelphia 84 per cent, Baltinaore
The Clearing Hoase associations are asked by the committee 21 -7 c. St. Louis records a loss of 1 -0 and New Orieans 2 9 p. c.
p.

—The executive committee

to discuss these recommendations at an early day and to
confer with its Chairman, Frederick W. Hayes, President of

the Preston National

Bank

of Detroit, Mich.

Trust

Company

of

New

New York

Sub-Treasury for telegraphic transfers to
be paid in United States notes and Treasury notes of 1890 by
the Assistant Treasurer at New Orleans. The charges for
transfer are to be bankers' rates from New York at 75 cents
per $1,000, in addition to which there will be a charge of 75
at the

cents for each telegram.

Total

all cities,

All cities, 1

Total

$764,016,109
98,874,832
67,963,772

19,030,264

17,902,681

-f6-3

125,995,626

103,500,795

-f-21-7

30,150,379

30,470,806

—10

10,344,477

10,649,774

-2-9

$1,304,306,122
185,463.798

$1,093,881,769
175,497,861

$1,489,769,920
327,941,268

$1,268,879,630
288,612.086

$1,817,711,188

.

5 days.

day

all cities

for

+21-1

$925,431,667
119,677,718
78,675,991

$1,557,491,716

—

Barney, President Knickerbocker Trust Co. of New York;
August Belmont; C. Ledyard Blair; Robert H. McCnrdy, of
the Mutual Life Insurance Co.; George W. Young, President United States Mortgage and Trust Co., and J. William
Clark and W. Campbell Clark, of Clark Thread Co., Newark,
N. J. It is reported that J. W. Hardenburg, Cashier of the
Hudson County National Bank, Jersey City, will be the
President; George W. Young and Robert S. Ross, VicePresidents, and Oscar T. Gubelman, Secretary and Treasurer.
—It is announced that deposits of gold certificates not to
exceed an aggregate amount of $1,000,000 will be received

P. Cent

1898.

1899.

Returns by Telegraph.

Jersey has New Tork
Boston
surplus of
been organized with a capital of $500,000 and a
The company Philadelphia.
like amount, to do business in Jersey City.
Baltimore
have purchased Taylor's Hotel, in that city, and they will Chicago
St. Louis
erect on that site a fire-proof office building containing safe
New Orleans.
of the building the
deposit vaults. Pending the construction
Seven cities, 5 days
company will occupy temporary quarters in that vicinity" other cities, 6 days
Among the incorporators of the company are: Charles T.

—The Commercial

Week Ending December 9.

Clearings.

week

-f21-0

+8-4

+16-7

our usual monthly detailed statement of
on the various New York Exchanges, has aJeo
transactions
the eleven
been crowded oflf of the first page. The results for
ana
the current year are, however, given below,
months of

Another

table,

comparison the figures for the correspond1898 are also presented.
ing period of

for purposes of

Eleven Months. 1893.

Eleven Months, 1899.

Par Value

ActVMl

or OxMntity

OMcription.

Value.

Aver'gt Par Value
Price. or Qttantiti
97,416,196

159,358,987

StOOK )\f^[ I1644W70O0OO 18,309824417 79-7
$779,924,000 $660,764,821 84-7
BB. bonds,
$10,887,474 1141
$9,494,810
aov't bonds
$1,400,801 72-9
$1,921,700
State bonds
$764,315 223-4
$337,576
Bank stocks

Aver'gt

Acttial
Value.

19340794776

\

Prict.

7125919972

76-3

$76^,069,730 $602,917,257 791
$24,417,464 1095
$22,307,680
$1,424,^10 47-7
$2,988,200
1430,812 2i9-8
$183,100

1019834P386 $7.766100315
80-0
Total... $16241385015 12,983571388
864,975.576
776,495,230 561,804,498 73 2-5c. 910,500,607
Grain, bush.
$8,620086891
13,545^75^86
Total value.

76-6
95c.

The volume of transactions in share properties on the New
and
York Stock Exchange each month since Jan. 1 in 1899

Income and Expenditubes of United States Railways 1898 is indicated in the following
EXCHANGE.
—From the Preliminary Report on the Income Account of
BAI.B9 OF STOCKS AT NEW TORK STOCK
Railways in the United States for the year ending June 30,
1898.
1899.
1899, compiled by the Statistician to the Inter-State Com.
ValUM.
Values.
Number
merce Commission from the returns of operating railway tionth. Number
:

companies, representing 185,245-80 miles of line, received
prior to November 24th, the following items are taken
The gross earnings of the railways embraced in this advance report were, for the year ending June 30, 1899, $1,307,253,484, or $7,057 per mile of line. These earnings were
assigned as passenger earnings. $350,227,319; freight earnings, $913,359,488; and other earnings from operation, $33,The gross earnings shown in the final report for
667,677.
1898 were nearly sixty million dollars less than this amount.
The operating expenses for the last fiscal year were $852,428,105, or $4,602 per mile of line. The net earnings, or in-

of Shares.

Par.

Act^^al.

of Shares.

Par.

Actual.

:

operation, were $454,825,379, an increase of
$31,073,304 being shown in this item for the year. Income
from sources other than operation amounting to $49,176 168
was received by the railways included in the report. This
amount, however, should not be accepied as clear income
from investments to the railways as a whole, for the reason
that a large portion of it was received as interest on railway

come from

bonds and dividends on railway stocks owned, and

therefore, largely offset in the aggregate deductions

it la,

from

Ian...
g-eb...

March
istqr

24,251,983 2,860,845.650 1,619,520.833 9,290,391
16,106,235 1,536,370,600 1.190,899,102 8,960.824
17,742,390 1,705,488,460 1,376,26? ,851 10,086,968

912,554,676

641,911,0(KI

873,628,400
984,492,760

656,208,2a
788,778,586

2,770.676.825 2.086,897.815
68.100.608 6.592.664,600 4.186,686,786 28,328,203

666,527,160
871.436,450
873,688,160

443.292,2M

2,311,649,760
2dqr. 42,863,818 4.209,116,460 3,694,676.109 24,344,183

1,718,449,664

16,098,626 1,676,038.550 1,431,735,173
May..., 14,965.899 1,467.663,850 1,284.^86,630
June... 10.903,793 1,066.613,060 927,964,406
4.prll...

5,979,446
9,191,684
9,178,064

639,711.863

686,446,586

52.672,386 6.082.225.675 8,806,847.469
9 mos.. 100963926 9,801,770.050 7.780,361.89£
360,661.640
461,349.550
820,926,600 708,867,714 4,791,787
July.... 8,387,630
923,778.8**
1.075.627,941 12,106,133 1,187.136,200
Auf;ust 12,985.349 1,232,066.060
713,179,8S»
881,231,900
966,041,846 9,379,446
Sept.... 12,460,90!( 1,197,224,850

3d
9

26.276,365 2.529,717.650 1.997.619.883
qr. 38.823,781 3,250,217.500 2.740.627,500
78,948.761 7,611,943.226 5.802,907.293

mos

Oct...
Nor...

134777707 13,051987669 10.620889888

10,899.489 1.066.226,876
13,681,771 1.341.491.676

7.463.383
936,741 .286 11.004.064

862,193,786

667.799,560

660,612,913

,052.000

77'. 109.70"

l.Ofll

December

9,

THE CHRONICLR

1899.]

The follomng compilation covers the

since Jan.

1.

clearings
=>

by months
j

MONTHLY OLBABINOS.
Clearintt, lotal All.

Month.

1889.

/annarrf^bruary

1898.

8,4gP,fl88,806

..

6.979,377,856

March

8.724.831,846

P.Ct

$
6,014.982,969 -Ml-1
6,554,761.814 +25-6
5,646,484,626 +64-6

1st qnar.. 24,193,897.806 17,215,229,329

OuUiie

1899.

New

York.

1898.

P.Ot.

8.798,939,029

2,324,700,236 +20'4

2,428,738.424

2,038,604,134

2,822,246,367

2,227,465,083 +2«-7

6,690,689,452 +22-1

fl91

-I-40-5

8,649,923,820

4,976,374 ,011 +66-4

2,702,753,636

2.107.448,985 +28-2

5,339,906,

f55-9
6,603,269,,267 +36-2

2.799,173,019

2,194,485,241 +27-6

2,718,004,812

2,237,407,467 +21-5

24,101.682,716 15,819,540,167 +52-4

8,219,931,497

6,539,341,693

April

8,279 ,665,487
8,323 ,881,315

May
June
2d qnar.

Clearingt

7.498, ,183,914
.

+ 25-7

6 months. 48,296,
i,080,o32
33,034,769,496!-f46'2 l6,26i»,S56,317 13,130,OU,145 +23-9

Jnly

7,110 ,994,105
6,926 ,977,678

2,690,637,992
2,5e8,635,83o

2,043,456,407

+317

5.696,877,,156 +23-8

2,084,608,182

7,067 ,862,793

5,600,748,,460+2S-6

2,667,816,415

2,08fl,759,799

+23
+28

3d quar... 21.105 ,864".57« 16,117,617,2411+30-9

7,927,090,242

6,214,824,388 +27-6

August

'

September.

months
October....

November.

5,020,491 .625 +41*6

3

69,400,945,098 49.162,386,737 +41-2 24,196,945,659
19,341,835,583 +25-1

8.322,725,816 5,934,727,190 +40-2
7.893,060,2621 6,178,323.509 -|-21-8

3,066.192,669
2,940.077.013

2,400,485 910

2.606.691.1ia

+27
+17

7

3

The course of bank clearings at leading cities of the country
month of November and since January 1 in each of
the last four years is shown in the subjoined statement.
for the

BANK CLEABIM08 AT LEADINO
Kovemher.
(000,000*

1S99.

1898.

1897.

Wew York...

4,953

Boston
Obloago
PUladelphla

3,973

3,122

615
58i
400
141
129
89
95
66

538
490
322
139
78
84
74
53
57
45
30
56
35
31
23
24
31
21
19
27
10
14

448
458
286
124
68
72
75
54
51
46
29
56
29
28
24
27
24
22
18
25
10
10

omitted,

i

8t. Louis....
Pittsburs:.. .

Baltimore...

Ban BTan'oo.

,

1896.

CITIES

Jan

,

1899.

1 in

1898
$

Knn "in
1897 1896:

»
»i
»
2,687 55,414 37,314 29,839 26,215
424 6,477 4,868 4,628 4.076
357 5,998 4.944 4,098 4,019
257 4,380 3,282 2,897 2,891
98 1.486 1,315 1,234 1,046
55 1,402
884
745
684
60 1,111
842
719
656
ii!

62
48
43
45
23
42
23
24

883
678
589
402
376
484
472
378
304
260
271
230
237
216
124
160

741
590
537
382
315
410
353
316
239
237
288
196
190
198
114
137

680
567
494
356
292
363
286
273
242
229
220

1177

ing trade. At the present moment, for example, while consols give only about 2% per cent, bills can be had at 4>vj' per
cent and even at 4^.^ per cent. It is, consequently, a profitable operation to sell consols and buy bills.
But the sale in a single day of such a mass of Consols as
occurred last week evidently was not intended merely for
the purpose of employing the proceeds at better rates. The
Stock Exchange took alarm; in some cases it was supposed
that the stringency, which is so very general on the Continent, was leading to financial difficulties and that those who
were embarrassed were selling whatever they could freely
dispose of.
As a matter of fact there appears to be no
ground for the report. In Russia the banking crisis continues and apparently even is growing more extreme. But the
Russian banks cannot have held Consols upon so large a scale
that they coull withdraw and throw three-quarter millions
sterling nominal on the market in a single day. In Ronmania also there has been a sharp crisis, which has been
relieved by a loan made by a group of French and German
banks.
But Roumania certainly did not sell the Consols.
In Belgium it is feared that there may be some industrial
failures.
But it is not likely that Belgium was the seller of
Consols. There is no apprehension of trouble in Germany
or at home. There remain, therefore, only two reasonable
explanations of so large a sale. One is that the Bank of England has been disposing of its Consols for the purpose of obtaining control of the open market; the other is that a number
of the great South African mining magnates have bought
about three-quarter millions sterling of Bechuanaland Railway debentures intended to enable the company to push forward the construction more rapidly, and that they have sold
so as to obtain the purchase money quickly. In any case
the sales of Consols and the steady fall in the price alarmed
the market and, broadly speaking, business has been very
stagnant all through the week.

The Bank of England made no change in its rate of discount this week, although it was very generally expected
that it would do so. For it was known that a good deal of
gold is going to South America and elsewhere; audit is
feared that gold will be also withdrawn for South Alrica,
while very little of the metal is coming from abroad, and
there is a good deal of competition for it in the open market.
The Bank of England is now obtaining control of the open
market, and rates outside are very nearly up to the Bank

622
532
454
New Orleans
49
414
Louisville...
38
258
Minneapolis.
63
351
Cleveland...
45
274
Detroit
35
273
Providence..
29
21
232 level. About AX% per cent is the effective rate. If the
Milwaukee..
26
20
213 Government has to send large sums to South
Omaha
27
Africa while
15
193 there
Buttalo
are large withdrawals for abroad, the Bank, to pro24
18
191
200
Columbus...
22
13
167
158 tect its reserve, may be forced to put up its rate. But the
Bt.Panl
24
20
176
209 Bank is very unwilling to do so. Five per cent is now a high
Hartford
10
8
113
109 rate in this country. Six
Denver......
17
per cent for many years past has
10
113
110
been regarded as almost a panic rate; and the Bank, thereoS.°«r*ii«<:." ''^t? ^'^Z\ 5'i2^ 4.373 82,332 53,692 48]922 44 J90 fore, will avoid putting up its rate to &% if it can do so.
Other cities..
304
351
280
246 3,285 2,873 2!440 2^421
In Germany the stringency is even greater than here at
Total aU...
It IS quite true that a group of German bankers has
4,619 85,617 61,565 51,362 46,611 home
OntsldeN.Y. I'l^l S'Hf 5-3®^ 1.932 30,203 241251
2,940 2,505 2.264
21,523 20,399 joined with a group of French bankers to lend altogether
four millions sterling to Roumania on the security of Roumanian Treasury bonds bearing 5 per cent interest at the
price of 90. But still the German banks have to obtain
assistance on a very large scale where they can. The Bank
iFrotD our own correspondent.]
of France gave a warning a little while ago to the other
London, Saturday, November 25, 1899,
banks that if they continued accepting for foreign banks on
Although trade was never more active than it is at pres- the scale then going on, the Bank
would refuse to discount
ent—indeed, It IS within the trutn to say that trade is
more the acceptances altogether, and this has checked the willingactive ]U9t now than it has ever been before— vet all
through ness of French bankers to accommodate German bankers.
the week the stock markets have been exceedingly
dull. For Here in London money is so scarce that there is not much ina long time past manufacturers have been so busy that
thev clination to lend to Germany. But it is said that German
have been unable to take fresh orders except on condition bankers are now obtaining
accommodation in New York and
that they were not to be required to deliver for
a year and that the New York banks in turn are drawing upon London.
a half, or two years, and in some cases even of
2% years Certain it is that the New York drafts upon London have been
Ihe plethora of orders continues, and in many industries
very large of late. The Imperial Bank of Germany will not
it
IS complained that trade is actually
being prevented inst raise its rate of discount, however, if it can avoid doing so.
now because of the impossibility of obtainicg delivery from But if the Bank of England has to
put its rate to 6 per cent
manufacturers.
It is considered certain that the Imperial Bank
of Germany
According to all appearances the activity in trade will will advance its rate to 7 per
cent.
continue for a long time yet. Indeed, the rise in
Meanwhile, the Indian Government is "earmarking ' gold
freights,
partly due to the goodness of trade all over the
world, and in the Bank of England, thereby completely withdrawing it
partly to the charter of so many ships by the
Government from the use of the market. It is also obtaining the whole
tor the transport of troops to South Africa,
has given a of the production of the Indian mines; and it is buyfresh impetus to shipbuilding, and new orders
have been ing a coDsiderablepart of the Australian production also.
placed at the building yards in large numbers.
The en Thus, while the Transvaal production is stopped, the
gmeenng trade in all its branches is exceedingly active and Indian Government is diverting
from London a very conso are all departments of the electrical
industry.
siderable proportion of the London supplies, and conseThe stagnation upon the Stock Exchange is largely due
to quently is making the difficulties in the market greater than
|the fear of dear money.
Jast at the end of last week a verv they need be. The India Council continues to sell its
drafts
large amount of consols was suddenly sold
in what appeared very well.
The applications for the 35 lacs offered on
to the Stock Exchange a somewhat
ostentatious manner
It Wednesday reached nearly 1,000 lacs.
The whole amount
IS said that the selling in
a single day amounted to nearlv was disposed of in bi'ls at a rate averaging about
Is. 4 3 32d.
hree-quarters of a million sterling, C'^nsols, in consequence, Next week 35
lacs will again be offered.
itell sharply.
The price has been steadily declining for a conThe following return shows the position of the Bank of
inderable time.
couple of years aeo it was as high as 114, England, the Bank rate of discount,
the price of consols,
N ow It 18 down to about W2%. The main reason
for the fall &c., compared with the last three years
_n the price is l he stoppage
of baying for the sinking fund and
1899.
1898.
1897.
1896.
:or the savings banks by the Chancellor
Nov. 22.
Nov. 23.
of the Exchfquer.
Nov. 24.
Nov. 26.
JE
5ir Michael fiicks Beach argued that
£
£
£
it was unwise to buy at
Circulation
28 300 790
88,761,9fl0
26.871.595
25,070,420
Public deposits
8.189.041
|0 High a premium when in little more than 30 years consols
6,941.573
7,791 .S46
6.858.614
Other deposits
Cincinnati...
Kansas City

61

A

iitogether will be redeemable at par. The
Government pur
averaged for some years about
or 15 millions stering; and when they ceased all at once,
it was a matter of
ourse that the price should fall. High rates for
money conequent upon the extreme activity of trade have led
many
•mate capitalists to sell consols for the purpose of financ-

'phases

U

Government

securities

other securities
Reserve of notes and coin
Coin & bullion, both dppartm'ts
Prop, reserve to

Bank

liabilities.. D.c.

rate
Consols. 2?i per cent
sliver

percent.

Clearlng-House returns

88.86«,8?8
13,340.990
31,251.928
20,4 12.646
31.918,436
43 8-16

8N6WJ.586

86.('66.660

1002''.640

18,401.416
27,914,978

a« 778.944
23,0 1 R.OfS
32.977.053

64^

8«..s24.07i

82.895,667
49 11-16
a

43,018,370
13,753.086
27,228.840
26.780.428
86,050,848

53M

6

4

102 15-16

110 7-16

27W(1.
162.841,C0:

118M

\nhi

2'iii.
183,748.000

87WI1.
128,613,000

SOd.
128,012,000

[Vol. LXIX.

THE CHRONICLE.

1178

date of

&

NEW TORK FOB THE WEEK.

EXPORTS FBOM

Abell write as follows under
Messrs. Pixley
November 23
decreased but on the
Gold -The demand for Holland has g^eatiy
other hand orders for Paris have ahsorbed m»f ,\T"^.?l«-o^of wWch
or wmcn
has rppeived £17,000, and the withdrawals total -S^SSb.OUO. likely he
will
|?8o!oSofs for south America, and which latter amount

.,.!,

For the week.,

*.8,616,179
$10,357,740,
381,106,li6' 349,839,749

$11,448,027
434,831,804

*5,90.'^,'^78

f rev. reported

422,038.094

1896.

1897.

1898,

1899.

920
Total 48 weeks $427,943,672 $446,279,831 *39l.464,003lt35P.455

k^^^e^r^-lpi^Sf2(^?.00f^^e?t1nd^erS^^^^^

The following table shows the exports and imports of
Dec .3
specie at the port of New York for the week ending
for same periods in 1898 and 1897.
and since Jan. 1, 1899, and
EXPOBTS AND IMPORTS OF SPECIE AT NEW YORK.

for
*fiVe'r Vt'h'^an fSo^ed i'eln^SS'l^Yinlifa'rfsmaller supplies ed,
from 27d to 27 5

November, the market has gradually hardened
Rs 6'^^
at which it closes steady. Indian spot price
^^^JP%I^IZ^a
Australia. £21,000: New /.eaianu.
Arrival— New York. £76.00'
We^IndTes; ii7,o0o';-total, £118 000. Shinments; Bomi"000:
hav £77 700- China. £81,000 —total £l"8,/0
^M^licln Dollars-Rising in sympathy with ^jl^"; t^^.^^^Jf
£11.2»b
/|J^°^
now 26''8d. Shipments: Straits, £3,920: Hong Kong,
;

Imports.

Exports.

.

IB
total,

Gold.

£15,216.

Gk>LD.

Nov.

23

16.

s.

Bar gold,

oz.

fine

77

d.

s.

23

Silver.

Nov.

London Standard.

London Standard.

16.

d

d.

d.

9^ 77 9% Bar

silver, fine... oz.

$44,248 $26,034,616
9,511.384
29,000
21,915 29,839,636

IMPORTS.
1896.
1897.
1898.
16,033,130
Importsofwheat,cwtl5,425,900 14,175,400 15,802,800
7,309,120
5,831,894
8,661,300
4,78H,900
Barley
4,899,29
3,454,420
3,769.670
*'^37.600
OatB..
1,018,425
747,400
566,300
904,000
Peas
887,250
950,860
577,190
441,0f0
Beans
14.452,900 10.757,400 10,364,100 14,996,780
Indian Com
5,037,780
3,780,200
4,547,530
5,109,800
Flour
for consumption (exclusive of stocks on
Supplies available
1896.

Aver.prloe wheat, week 268.
price, season .268.

Average

Id.
4d.

26,810,329
1898.

27,763,610
1897.

680

All other countries,

621,734
1.559,610
937,667
57,250

Total 1899.
Total 1898.
Total 1807.

81,164 9n $42,627. 1!i5
1,096.097 4 3,572,507
943,8361 48,288,871

$49,2!^4 $3,643,022
2,539,444
40.404;
2,895,697
95,386'

Germany
West Indies
Mexico
South America

338. lid.
338. 2d.

London.

Wed.

Tues.

273,6
273,e
10218
10216
1020,6 1029 6
Fr'ohrente8(inPari8)fr. 100*70 100-76 100-70 10075
6778
67%
67^
68]^
Spanish 4s
2318
23 1«
23^
Atoh. Top. & Santa Fe.. 23o8
6638
6678
68
68
Preferred
57 14
5778
59
5914
Baltimore «fe Ohio
8312
85 14
83'fl
85ifl
Preferred
97J«
96%
96%
971*
Canadian Pacific
3II4
3118
32%
Chesapeake* Ohio.... 32
127
I28I4
127ifl
Chic. Mil. & St. Paul... 12779
2II4
21ie
2II4
Den. & Rio Gr., com.... 21»«
76
7678
76%
do Preferred 7678
Do
1338
1338
1358
1338
Erie, common
39i«
38 '<8
3^38
3858
Istpreferred
II8I4 118
II8I3
118 14
Illinois Central
66I3
8638
87 13
Louisville & Nashville.. 87 %
1214
12ifl
1268
Mo. Kan. & Tex., com.. 12^2
I42J4
14214
I4314
N. Y. Cent'l & Hudson.. I4314
2.^%
1b^
26
W. Y. Ootario & West'n 26
72%
72%
73
Norfolk & West'n, pref. 73
57ifl
5714
5878
Northern Pacific, com.. 5858
78 14
7812
79ifl
7938
Prrtferred
69
6914
7OI4
70
Pennsylvania
1038
10»«
lOSg
lO^a
*Phila. A Read
30
30
30»a
*Phila.<fe Read. ,1st pref. 3038
1578
15%
16
•Phila. &Kead..2dpref. 1578
4238
4316
4414
4438
Southern Pacific
I3I3
1314
131a
South'n Railway, com.. 13^
5914
59ifl
601s
60
Preferred

per ounce
Consols new. 2%
For account
Silver,

,

Union

d.
p. cts.

27ie
273,6
lOli^ie 102
1029,8 102 Jfl

52^
79^

Pacific

Preferred
Wabash, preferred

2338

5V%

olifl

51

7938
2358

79

78%

2314

2314

Thurs.

BANKS.

Niw York
Oolumbla

127
2138

76%

1338
3838

I318

117%

117%

8678
1238
14212

8638
1218

38

142

25%
72%
57%

2514

7858
6914
lOSg

7838
6914

30

2912
I5i«
4338
I3I4
59I2
5158
7858
2316

7213

57 Or

1558
43I4
1338
5958
5II2
781a
231a

1018

Price per Bhare.

Week.— The following are
week ending for dry goods
the

Imports and Exports for the

the imports at New \ork for
Nov. 3 and for the week ending for general merchandise
also totals since beginning first week January.
Dec. 1
FOREIGN IMPORTS.
;

1896.

$1,515,579
6.883.765

$1,452,151
5.806.735

$7,258,886

$7,423,507

+8,399.344

¥84.657.960 #112.521,346
3i 9.277.1 •'>4 336.192.207

$99,634,835
312.213,279

Kll.726.446

Qen'l mer'dlse

Total
an.

Dry Gocd*.

6.507.2^5

$1,206,090
6.222,417

8,233.671

Dry Goods

Sitife

1898.

1899.

For week.

1897.

1

..

Qen'l ujer'dise

*fl5.010,130

378,379,485

*448,7i3,553 »411,848,114
Total 4" weeks »47 3,389,6' 6 *383,935,iJ.4
~
The following is a statement of the exports (exclusive of
from the port of New York to foreign ports for the

Kleventh Ward....
fourteenth Street.

Some.

BCount Morris

Mutual

4,

and from January

1

to date.

Ward

Plasa
EUverelde
State

rweUth Ward....
rwenty-thlrd
OnloD Sciuare

Wd

rorkvUle

pltM.

I

mtntt.

liotu.

Agent.

Dtpoiit*.

100,0
300,0
100,0
100,0
200,0
200,0
100,0
250,0
200,0
100,0
100,0
100,0
100,0
200,0
100,0
200.0
100,0

» „
%
96,5 1.022,2
200,2 2.169,0
131,-i! 1.164,3
67.0 1.114.3
734.3
18,8
96,6 1.364,3
644.4
89.(1
63.3 1.794.0
122,6 1,443,4
981.6
37,4
140.1 1,896,0
876,1
113.8
163,6 2.646,0
79,2 1,228.4
9fc6,2
66.4
328,8 1.988,1
163,6 1.668,0

48.3
17.6
66.3
40.3
64.0
38,6
18.7

108.0
10.9

208.0
36,2
46.8
64.6
102,0

120,1
18»,0
249,0
164,2
38.6
115.6
67,3
92,0
250,9
266,6
14,0
84,7
189,0
66,3
107,8
349,1
128.0

73,8
67.0
47,8
46,3
67,9
64.4
52,7
9U,0
118,6
96,4
176,0
48,2
104,0
143.U
106.7
230.1
87.0

f

$

t

9

S
14.2
88.0
69.4

'6.'6

14.'7

"7
63.0
83.9
7

186.0
26.5
36,0
27.6

1.138 9
2.104.0
1,373.8
1.306.7
656.4
1.444,1

684 9
3.036,0
1,622.4
1.379,2
1,960.0
878,0
3.172,0
1.646.3
1,146.6
3,603.1
1,611.6

BOROUGH OF
BROOKLTN.

Bedford

160,0
100.0
Brooklyn
300,0
100,0
Klghth Ward
Avenue
100,0
nfth
160.0
Kings County
Hanufacfrs' Naf a&a,u
600.0
Meohsnlcs
MIeoh's' <fe Tradr'8 100,0
NaesftTi National-. 300.0
300.0
NfttloEal City
100.0
North Side
100.0
People'*
100,0
Sohermerhom
Seventeenth Ware 100.0
Spragne National.. 200,0
I*wenty-sirth Wd. 100.0
100.0
Onion....... .--.
loo.n
<V»11 about...
German-American. 100.0

Broadway

—

Borough of
KlCHMOND.
Banket Htatenlsl.

26,0
100,0

lBtNat.,8tatei)l8l
Other CiTiBs.
iBt Nat., Jer. City.
Hud. Ca.Nat. J.C.
Id Hat.. Jar. City.
Id Nat.. Jer. City..
l8i Nat., Hoboken
Id Nat., Hoboken.

400,0
250.0
260,0
200,0
110.0
126.0

1.097.6
1.262.8
1,266,6

119,3
133,4
169,9
39,9
62.8
57,1
433.6
391.6
203,5
671.6
564,8
106,9
127,0
63.4

336,8
669,0

7716
2,621.6
3.0S2,3

939.6
3.733,0
2.381.0
739.9
858.0
639.0

466.2
71.4
215.0 1.18rt,4
600,7
64.1
31a.6
67.1
648,7
36,9
371.6
18.6

80,4
13.6
96.5
10.6
41.7
60,0
208
10,1
20.8
39,9
13,7
20.4
216,9 349,0
166.6 128,8
12,0
51.9
124.0 23-^,0
103,0 2710
47,6
11,2
33,4
36,3
35.4
23,9
36.0
9.3
10.0
108.6
21.1
7.6
13.7
6,9
26.4
23.7
ai.7
0,3

440.4
667,7

16,4
23,6

22.3
17,3

746.6 4,866.4
5:i6.b 2.157,3
366.2 1.360,4
893.'i
211.8
438.3 1,873,6
841.3
88.8

167,9
71,9
63.1

407.3

60.4
Hl.4

26,5

108.0
51,1

67.9
31.H
64,7
17.9
27.6

79.1 100,0
6
176,9
166,4
11.7
lO.t
46,3
48.9
6,6
6
78.7
668.6
163.3
66.4
9.1
36.1'
436.0
14.0
340,0
1
30.4
20.0
36 1
50.9
50.0
66.2
ii.;<

1.177.1
1.346.6

8.0
3,9

1,0198

11(4.1

31.5
41,7
60.3
40,6

l.'237,2

2:8.7
512,6
763,8
3.983.1
3.010.8
85.^.6

3.840,0

2618.0
627 2
819.0
656,2
405.2
467,3
223,2
643.2
331.6

1.0

31.9
1.5

564,3
609,3

134.9
83.1

600.0 69P.2 6,316,9
124.'
63 3 l,8i8.2
1,147.7
18d.3
837,4
114 9
31.2
92 3
98.2 1.6b7,8

n6

67.7

813,9

2b8^
to,i()7,4 2.540,83,603,8 6,487.' 1,558,2 t4
Totals Dec. 2. 7^762.0 7,04°x5 00.233,2 2,04Q,7 3^30 0503^1,1^.7, 1X64,017 A
Totals Nov. 25. 7J62.0 7.Q40u'i
6,437, o\ 1,750,^* -35' tl
7>Q40,5 0O,b37,S 2,t20,4 3<153<'
Totals Nov. 18.

New York City, Boston & Philadelphia Banks.-Below
the Clearing
we furnish a summary of the weekly returns ofPhiladelphia,
and
Boston
HouS^ Banks
Banks.

of New""

Capital &
Surplus.

Loans.

York

City,

Specu.

$
N. Y.
Nov. 11. 138,606.4 688 386.0 13';074l
18 138,5064 679 762.2 1367783
'•
26. 138.506.4 6-6 6<6.4 1420106
Dec. 3, 138.506.4 683.169 8 1463146
Hon.*
67.661,9 194.379,0 15.221,0
Nov. 18
•'
67.661,9 192.038.0 16,1240
2S
•

Dec.

3.

Phlla.Nov.)8.
" 26.
Doc. 2.

specie)

week ending Dec.

.—

......••-•

Nineteenth

IVtt

Invtti.

Other

/Specie. <fcB'h OUar'9

.

C)oloni&l

84%

76%

Citi

borough of
Manhattan.

Qtansevoort
Hamilton.

toi.

\

vrsli.

Ltg.!

8ur-

Oapi-

(OOa omitted.)

971a
3168

3158
I2714
2138

110

Devout,

273,6
273,6
10216
102
1029,6 10238
00-62ia
1(0-7
6714
6758
2278
2318
671*
66%
5778
57%

97

10,92S
18,846

oil cases.

Loans&

Fri.

84%

omit two ciphers (OU) in

We

32s. lid.
278. 6d.

Mon,

5,369

the
Reports Of Non-Member Baoks.-The following is
of condition of the non-member banks tor the
statement
week ending Dec. 2, based on averages of the daily result.

28,241,546
1896.

288. Id.
26b. lOd.

SinceJan.l.

Week.

SinceJan.l.

$451,084
10,308

Engllsli Financial Markets— Per Cable.
The daily closing quotations for securities, etc., at London
ending Dec. 8.
are reported by cable as follows for the week
Sat.

Imports.

$18,690

Wheatimported, cwt.15,425.900 14.175.400 1|.802.800 16,033,130
5,037,780
4,5i7,530
3,780 200
5,109.800
Imports of flour
7,170.636
8,180,610
8,087.399
of home-grown. 8,376,460
Bales
28,912,160
1899.

$14,011,598
96,6vi9,3H
13,564.952

155,624
65,t 39

$1,114,550 139,669,628
2,026,595
38,308
238,3t0
529, 2i 5
6,848
9,600
'5',225
142,951
10,856

Great Britain
France

'

Total

$41,.'='92

15.000

Week.

1899.

1897.

679,110
579,954
96,237

Exports.

cereal produce into the
the first twelve weeks of the new
season compared with previous seasons

1898.

1,000
5,520

Silver.

United Kingdom during

1899.

1,128,132
2,216,127

2.150

Total 1899.
Total 1898.
Total 1897.

The following shows the imports of

1):

7,581

All other countries

S.

September

5,690.306
39,712
486,772
145,246

$27,098

27B16 27

Bar silver, contain'g
goll coin...oz. 76 5 76 5
do 5 grs. gold.oz. 2713U 27ifl
Germ'n gold coin. oz. 76 6I376 6H
do 4 grs. gold.oz. 2738 275,6
French gold coin.oz. 76 6ia76 6ifl
do 3 grs. gold.oz. 277, f 27 18
oz. 76 5 |76 5
Japanese yen
oz. 297,8 2918
Cake silver
Mexican dollars. oz. 2678 26%

U.

2,933,0.56

3,2f'0,000

West Indies
Mexico
South America

Nov.

1.

$6,378,982

7,397,580

Germany

Sov.

Since Jan.

\

$27,491

$9,02^^,000

Great Britain
France

The quotations for bullion are reported as follows

Week.

Since Jan. 1

Week.

;

67.661,9 191.310,0 14,343,0
86,345,4 139.117.0
86,346,4 18^410.0
35,b46,4 188,394,0

Legals.

$
48,.i372
47.118 9
49.131,1
60,341.7

Deposits.^

Circ'l'n.

$

CUarinf'

$

744.^0l,0 16 366.4
73«.«36.9 16 462 3

1

$
09 1 7548

l.:B4

8:«8

16471 6 10867638
748,078.0 16 4b0 9 10391370
737.9.^8

7.298 310,643.0
7.602.0 306.3H4U
7,100,0 303.8130

6,443.0 148.140,0
b 447.0 141.670,9
6.496.0 114,568.8

161.849,0
160,679.0
161,604.0

100.983.8
6.576
96.360.9
6.676
6,589.0 86,6r8.»

40,908.0
4i>,701,0

41,S43,0

Vn'o^iXX7^oT.t^'^'^XIrtii'^ the Item "due to other bank.:

December

THE CHRONICLE.

9, 1899.J

^""^y
bearing House Bank9.-Statement of
.Ia^,condition for^'}J week ending December
the
2, based
on
average of daily results. We omit two ciphers

8«*bo«'-d pons
ending Dae. 2, 189y, are l'""""*'
endhL dS^'? i«r.'^^ sHo^n in tae aonex^d for cne week
atate aeac:
fVneai
(JOT-7.

(uoj in all

Banks

\OapitaC Surpl's

Loan*.

Legals.

Specie.

I

1179

Jlxporti from- hugh.
•tew York
f79.»37
Boston
1(3,S08
Portland, Me. 13i.3£8
fhlladelphta.. 11^0' o

DepoaitM

Aank ot Mew fot^.
Mwiliattaii Oo

Oau

bush.
66 ,673
S.-S.'STl

bbU.
92.r>H
53.514

4,400

e3-7

Hyc

Inish.

84'., 86
.0>'2,-t>9

c,..i

bush.

38,«10
I2rti0
8^,135
67,5ul

aarley,

..»/,.

15 1,0

428,433

8.016

24.4M

..

rt-.3^7

68.811
$a,ooo,o $1,831,8 $i 3,039,0 +1.967.0 »1.060,0
Saltlmore. ... ITSS.-fl
$12,3S8,U
6l.7«'l
3,050,0 3.116,6 19,426,0 3,698.0
New Orleaiig.
7rti..6
87,162
2,386.0 22,509
6.223
Merchants'
45
3,000,0 1,087,7
Newp'rt News
11,880,1 2,430.1
7i'P0-9
1.371,9 18,710.8
7y.0iZ
Meohuitos'
SS.966
3,000,0 2.118,3 10,044,0 1.837.r
Montreal
7.756
9-^8
1
882,0
* i
9,830,0
29,787
Amenoa
8<,2t0
1,600,0 2,746,& 18.858.0 3.308,4
Salveston
51,644
21U,2i0 49:0X8
1.600,6 20,840.9
3.786
jPhenlx
Pensacola
1,000,0
«.•; 4
243,1
4,393,0
812,(
200.0
4,142
City
vioblle
1,000,0 4,8)8,6 7H,074,4 29.707.6
'"5.713
51.428
2 84 2,7 104.853.2
Ohemloal
Bt.John.N.B. 104.000
800,0 6.6P8,9 22,876.4 4,666 6
i5U
1,888,0 22.912
2&0C0
».< 1
Merohantf' Exoh'ire
600,0
187,3
4,688,2
846.1
4581
6.094 6
eallatiii
Total week..i.6li'.052 5 19 9'?'5 .Sfi7.'8J
1,000,0 1.769,6
7,866,4 1,136,9
8?14.1SS
6e8,2
8,437.6
2.7 7
Bntohers'A Drov're
SamPtlme'oK t.292,i;72 4,820.044 6I2.2.<6 72
e0i».328
SOO.O
76,3
i,lio,e
308,7
,6
94 7:<7 Uw. "l
66,6
1 252.2
Meotaanloa'A Trad'e
'>.otfa
400,0
128.8
3,123.0
217.0
The visible supply of gr<iin, couiprisinir
193,0
2 243
ereenwlch
300,0
1776
th« s ocks in
978,4
101.3
125.1
86 ,2 granary at the principal
Leather Manolao'ra
600,0
489,6
8,777.9
points of ac.umu ar.ou at ittke
844.7
168 2
3,606,3
SeTenth
and
300,0
176,*.
3.313,4
787.2
404,8
4,669 9 seaboard ports, Dec. 2, I89tf, was as follows:
Btateof New York.
1,800,0
648
3,812,4
230,1
603.7
3.169,4
Ajnenoan Bxoliangf 5,000,0 3,698,9 27,251,0
in store ai—
4.064,0
1,785.0 21,850.0
Uartev.
b^jth
Oommeroe
61' «h.
5,000,0 3,685,2 26,471,9 1.632,1
^ew York
3,341.4 19660,0
4.0 *'0.
81 5 00(:
Broadway
66(1.000
1,000,0 1,681,8
818
5,922,1
SflO >"0
1.017,4
afloat_.
187,3
„ Do
"iSi.OOO
5.030,2
I2i)'i
Mercantile
1,000,0 1.042.3 11,455,2 2.414.6
70 000
....
718 7 12.214.1 Boston
682
41 ,000
Paolflc
43
422,7
49P,e
3 085 9
Phlladelohia
S48.r
V« 1.000
383,8
3,414,5
1. 57
Bepnbllo
20%
I
1.600,0
Baltimore
932,8 17,2J2 3 3,878 6
47-< 01
1,'l.ill. H-c
073,3 18.593,2
Chatham
3(9
112
New Orleans
460,0
993,0
6.16W,7
0-6
621,6
798.2
82.3. 'Of
8,t85 2
People's
200,0
Galveston
294.6
1,918,4
6.000
1,
2.81K 8
408,4
419,9
1.0. 4.000
North America. !..< 1,000,0
Montreal
637.6 10 047,8 1.667,7
50, ...
767,(.
J7.
10.705.7
217. "u
Hanoyer
Toronto
31.000
1,000,0 3,678,6 32,196,B 9,246,1
,i
41, ..
1.486,8 39,72f 4
4 iiii(
trying
Buffalo.
I3U.0OO
600,0
;
388.4
4,109.('
i,603.'u00
924 000
342,3
478.0
9P6 "K
4,088,0
2.8.
Oltuens'
Do
1.44^.000
afloat
600,0
872,6
„
2,661.1
5M,7
12t,2
2.673,7
Nassau
f^oledo
l,837..>i)i
600,0
273,9
2,681.6
9<)i.uo(
216,8
466 4
6 8. '••:
2,993.2
Market A Pulton..
Do
afloat
900,0
991.2
6.178,0
957,9
620,6
6.2 74.7
Shoe <ft Leather.
JMrolt
7i;8itO<
1.000,0
163,2
2<'2,'lO(
3 '^2,<,3
218
2>-8 1
620.6
0<
3.683 6
l'»
Com Exchange
Do
8S.0OO
afloat
1,400,0 1.661.3 16,332,2 2.121,1
2,628.0 18.849,8
ihloago...
Ctontlnental
..
14.:89 b(
1,000,0
2 66C"i0i'
664,1
4 670,2 1.201.6
9t5 <i(i'
249.8
6,663 4
Do
57.000
Orlentol
afloat
300,0
389,4
2,108,0
241,1'
316,0
2 134.0
vfllwaukee.
i83. 'W
Zmporters'dk Trad'r* 1,800,0 6,734,0 23 453.0
2.(100
4,681.0
Do
9, (Xi
975,0 2<!,940,ii
afloat.
Park
2,000,0 3,271.6 37.979,0 11,684.0
922,0 46.223.0
Ft.Wlll'm&Pt.Arthur 1,''K 000
Kast River
260,0
147,8
1,4S2,P
ialatti
304,6
182 4
1,678,1
Fourth.
6,2p2, oi
103.10<
187ii0i
3,000,0 3,036.4 21.774
Si9n>
Do
347 000
4,013,0
1,092 / 22,161,4
tifloat.
Central
1,000,0
512,1
9,820 U 2,1.^8,0
Mlnneapolla ....
883,0 12 ?080
18, '83 lOr
Beoond
63. "•
652
300,0
778,2
14
7,522.(
it Lonlg
io»«.oob
1.423,(
624,0
2.3ti6
8.323.0
Ninth
tti.OOQ
7
760,0
ll
169,6
2,676,8
Do
16.000
afloat....
407,1
222.3
2,705.1
First
600,0 7,763,7 30,867,6 6,438.4
Kansas Cltv
"88 III"
646.6 28,773,9
2,112.000
N. T.Nat'lExch'ge
19
800,0
Peoria
'
63,0
2.183,t
363 6
o/.OuO
280,t)
9-', iQC
2,388.5
Bowery
64 H
260,0
4
(ndlanapolls ..
866,6
3.441.0
9,000
441. OOC
600,0
888.0
63.
8,761,0
New York Connty.
19 •"
200,0
3n Mississippi River
410.4
3.257.9
652.^
326 2
3,84 8.1
Ctarman American
760,0
Jn Lakes
297,2
3,849,3
3,1 4 000
618.7
250.3
278.0(>6
3,922.2
Ohase.
697.000
On oanal and river
1.000,0 1,486,9 31,395,3 6,883.7
1- b.uoo
4,614.8 38.6-n.it
93 000
Fifth Avenue..
12J.000
100. f» 1.211,6
7.831,9 1,671,9
649,3
8,748,1
Serman Exchange.
Total Dec. '?. lHi'9 ."^5.-78 •
200,0
672,7
2,621,4
11." 12 .1,1
186,6
824.6
6 1-5
3.342,4
•<910~00
Ctormanla
rota, ^ov. 25, ,t,i.9 5.'i.^:1'^.o00
300,0
780,3
2,H48,6
11.
451,8
5.WI7
632.2
l.4«8
4 633 6
lanopln
Total Dec.
Sf5' 00
i:
3 1888 -4, P8, A.
300,0
811.6 10.218,0 2,387.7
2( ,3flH
0(
f'.e4rt
424,5 11,729 1
I.O <
Total Dec.
8 000
4.
-07 o4,-3rt 0(
300,0
926,2
4<',9^0,
6.417.4 1,362
15,4f«7
473,8
3.5
7,434.6 T " Dec. 5, '"O.'
7 ".(100
300,0
328,4
OH.
2 2iS,3
.
'2. 1*7
4 88,P
•2.^6
133,4
2.343.9
Bank of the Metrop
'.•<?«.0.no
•
Hxcl slve of New Orleans.
918,H
300,0
5 2^0,1
1,0B».6
864.6
Galve-ion.
6,920,7
William aud Port Anuur, bat
West Side
300,0
876,7
2.733,0
377.0
36.\0
3 046.0
Seaboard.
'°NoTE-^^,1f/r„' 'YT«" ^°'^ fin mnan. now oniittei.
600,0
656,6
9,621,0 1,342.0
1.425,0 11.278.0
Western
3,100,0 ], 163.6 27,208,6 7.074.
1,220,7 32,120,0
First Nat. B'klyn
F"t. Williaoi
. ,
300,0
638,0
4,0U.0
439.4
611.1
a (1 leavitii;
4,171.0 Oswego and rinrinna'ri lormeriT
Nat. Union Bank
A.bany
1,200,0 1,238,3 13,391,2 8.272.8
in luriHd
384.4 14.0L6.4
Liberty
600,0
410 6
4,868.8
986,9
122.1
4,668,8
N. Y. Prod. Exch'ge 1.000,0
864,7
3,PO0,3
Auction Sales.— By Messrs. Adrian H. MniU
604.0
.c,".^.-,.— uv i.iHH>4T« Aorian
297.2
3.347,7
Bk.of N. Amsterdan
MhiIk.
260,0
{joq
3.5H8.3
363,4
868,6
278.0
Snares
Astor
3,923,3
, „„
860.0
178,7
Share.i.
3.461.0
687.2
203.3
l?9g,.l8l & Hilyn RR. Co. 332
3,860,1
Side Leather
___
^,,
,
600,0
f>0 American S irety no
240.2
2.300.2
179,0
229,8
i. 699,7
Iti Elizabeth Library'
200>a
Assoc
16(j Central Joal & oke Co.,
Total
Elizabeth. N. J
59.4 22.7' 79.0^ 3 7 682,169,8'1463146
$10 lot
prf^f
-inn a?^
50,241.7 748,078
60
4£0?tu.vve«HntFirp In«. Co 76I3
Bond a
<.->

'

.

.

!•

'

. .

'

(i

(

.

.1

I

.»

-.

.

'

*•

&

&

^

(

Bread stuffs

Bronght from Pase i208— The
statements below are prepared bv
us from
^cted by the New York Produce Exchange the fi-nres r>ol
The reCfpts at
Western lalje and river ports for the
week ending Dec 2
and .ince Aug.
for
„i.„.

.

*''fftt»'es

,

each of the

1.

B«ce4pt«

at-

Hour.

last three

£«:

yeSs. Sfve

Cvrn.

Oat».

Barley.

V«

BbU.19filbt Buuh.eoibi Bu«?t.56lb.'
Buth.32lbs Buth.iSlb Bw.6ei
135.161
801,953
1,374.884
1,755,360
485.390
43,100
Milwaukee
109 410
830410
88,150
508,800
569.300
34,330
Dulnth
112.825
2.122,661
18.689
6,802
189,080
19.617
Minneapolis.
3.416
2 601.080
96,66(1
132,160
67,610
12,800
Toledo
12 490
47.530
488,630
45,000
33.00('
4,F00
Detroit
2.100
31,904
72,851
11,016
7,153
1.100
Cleveland...
21,610
209,896
89.672
St. Lonlt ....
40.910
104.804
377.266
180,800
84,760
12,000
Peoria
10,550
11.70U
333.550
19 M. 600
51,00
600
Kansas Clt7.
137,801
222,C0(
40.000
.

Tot.wk.'09.

Same

426 862

3,227 955

2,973 240

1

9,546.340

3,4<7, 38

2.827.604

1,175,' 38

201,408

Since AUQ. 1.
•889
1898

6 401.45?

873.519

wk.'97.

$5,000 Coney r,-*I.& Br okiyn
TrustCo
16o-lfil
RR. .«. cert-, nf Indnbt,*<"oa]e Insurance To
224 («
1031%
0.0^ ''''n-s8. 1903. JAJ
^^ ?^<'''*'''?e
o2 Westc'r r. Co. Bank...;-7o^ $8,000 Arkaiiiiiin .><iate Fund25
Youker.s.l8
ed Debt B, JrtU., I'-: 3.
10 Moi ton Trust Co.
21
coup,. us OB
$35 lot
,5 Bankers' Trust Co.....'."21 'q ^
$3,C0(»E.izal.Mh Cit'.N
125 Ajizona Copper SmeltAd.rt49 1 2 J.fe.J
102
$1,000 Kinus
o. Elev. RR
100 U. 8. Trust! Co
i(j5(i
l8t 4p, 1949, F&. \
87i«
2^ Colonial Tru-t Co....".; 3y5«fl $2,000 Coney Isi. &
R'kiyn
19 Trust Co. of Amer... 2 6-2
RR (o. iHt.'Ss. 19(m" 104
2 City Trust Co
39!
$1<',000 R iload Equip. Co'.
"' Mai.hattan

w

,1

6,461,622

4,349.1)21

1,015,042

(

;<>

.

'

270.718

.477,293

Co

36

NASSAU STRbET, NEW YORK.

FISK

^if

ROBINSON

6c

:

flour.

..

bbls!

Jew York

144.1-96

io»ton..

64.466
13,4 o
92,211
8O.H79
3,680

iontreal
Philadelphia
laltimore

llchmond
Jew Orleans*
lewport News

10,:i27
7w,0ci2

lalveston

H\914
178,937
5a.a84
4,570
143,700

168.400

'ortland. Me
I'ensHCola
(obile

6 387

,

l.Sl,368

6,713

t.John, N. B. .'.','.

/eek 1898

yVneat,
buth.
1,?49,175
;-40 6«7

250

Corn.
buth.
879.275
149,444
l;i0,838
602,'<28
1,1C9 467

24 148
334.3-0
729 (•39
284.600
4 .tO
60.054
51,488

104,000

I^I.U^

Oatt,
bugh.
863.300
151.410
15.6H0
207.754

Barley

7H.'r00

14,7kO
62.770

" 4,200

HARVBY EDWARD

18.521
3,572

6EOBOE BabOLAI MoFFaT.

Moffat

..bbli

.bnib ir9

i'rki ...

ItB...
!»rley.
\r«.

...

Total Kraln.

20,i;46,103
410,-i47

186 2 8 1^8
87.'. 81, 73
12 824,950
5.467,693
401.964,151

19.817,689
126,852,340
187. 52.9 6
87. 75.288

lllTs

1

NASSAC

W

K«fi-anB«,

Jb.

.

vvhite

&

23.802.230

815

14,125.3-8

422.3:0.116

385.509,154

1896.
11,502,314
e4,97?.i42
90,00 \9^Q

c9 l'23,134
11,623 462
6.r4i!,840

842.267.664

STKfclUT,

-

.

IISTVE.STM EUT SECT!

2^'U'.

Spencer

compare as

175.159.188
88.457,489
12,210 316
10,775.346

5.««4.11<1

ALk.XAl'lUKH M.

Members Ne«r York Stock Exchange,

No.

'SZ

98,<>r6

KUHIN80N.

BANKERS.

:

heat,

H.

MerunerN Y St—k

'84,986

Total receipts at ports from Jan. 1 to
Dec. 2
)llow8 for four years
Miece<j»t» of—
1890.
189S
1P07
onr

GEO RGB

FISK.

l,HciO

35,966

86.436

2.5
8,00

29,000

2.530,9'5
r.352:315
4,352.315 3;95S;oll

INVESTMENT SECURITIES.

hvg'i.

68 350

16.800
6,250

6-1.451

BANKERS

Rvt,

bugh.
718.800
44.528

.$2 8h

SauHtiig aud gluauclal.

^'*i° '^fc ^^^ seaboard ports for
ha week ^'^i^'*^^'^"'' ^°^
he
ended Dae. 2, 1899, follow
D...J »
B«c«<ptjat-

f

.

'

127.317
239,376

4,605,736

Co..26=>i4
JJJ S'*"'^
6-, i»02. Serie.-. B
a?^.^M,a°t8'N.t. Bank ..17.=.i^ $15,O(i0 Railroad ^qllip.Co 27
^"^'- * Trust
.400
6s, 1 .03, S-iie- li-n
Ya S-fi"
50
lOTilden State Bank, Til«6,0i0Sta'en Is). EL.c. UR.
den, ^eb
80
l8t (on. 5s, Nov., 1898.
30 Firsr Nnt.Bank of Dougcoupons •n
las, Wyo
80
$500 -t'.t. Isl. Eleo. o. scrip,
165 Comniercial Bank of
$ ,000 Dr.. Dock E B, * Bar,
Moscow, Idaho
$45 lot
'
RR.58,l.-32,J&D.li7ia&int.
T.„ TV,
^
By Messrs. R.cbard V. Harnetf & Co.

7.618,810 109.524,046 85,829.182 70.7«7,174l
20.121.8.'
3 147.690
6,331,865 145,662,741 76,132.245 6
,658,38 i^ 20,890.010 5,285.727
4,189,375 126,363,"23 98.031,0491
79,499,948 19,830.706 •5,985.720

l'<97

I

.

Wheat.

Otalcasro

3amewk.'98

23 International Baukins; &

27

dc

29 PIIVE

Trask &
BANKERS,

STREET,

-

-

|MK\»

«»RK.

,^ITIF:<=

Co.,

.

NEW VORK.

Transact a general banking business, act as Fiscal
Agents for corporano s, and ne?otiate seruntv
issues of railroads and other companies.
Execui
ite
commission orders and deal in
Members

INVESTMENT SECURITIES.
Branch

N. Y. Stock Kichange.

oajce.

State ^i

'Ibaar

THE CHRONICLE.

1180

cables, 4 873^@4 87^; prime commercial, sixty days, 4 81@
4 81 J^'; documentary commercial, sixty days, 4 80^4^
4 81^;
grain for payment, 4 81i^(a4 81?^; cotton for payment, 4 80^
@4 801^; cotton for acceptance, 4 81(ffi4 81}^.
Posted rates of leading bankers follow:

^awfejers^ ®a^jettje»
DI T IDENDS.
When

Per

Name of Company.

Cent.

@

Books closed.
(Days inclusive.)

Payable.

December

Railroads; (Steam).

& Santa Fe, pref
& East. Illinois, common..

Atch. Top.
Chic.

•'

2
1»9
2i2

pref. (qu.)

Chicago Great Western, prel A.
Chicago & Northwest, common.

3

1%

pref

Chic. Rock Isl. & Pacific (quar.)
Chic. St. F. M. & O , common...
"
"
•'
pref

EastMahanoy

IH

6

Feb.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Feb.
Feb.

11 to Feb. 1
2 Dec. 15 to Deo. 27
2 Dec. 15 to Dec. 27
1 Jan.

—

31

to

5 Deo. 13 to
5 Dec. 13 to
1 Dec. 30 to
2<i Feb.
1 to
20 Feb. 1 to

—
—
—
—
—
—

Deo.
Deo.
Jan.
Feb.
Feb.

17
17
7

14
14

Dec.
Jan.
Jan.
Jan.
Dec.
Dec.
Jan.

15
2
15
10

30 Dec. 16 to Dec. £0
1
1 Dec. 23 to Jan.
1
30 Dec. 20 to Jan.

4

Dec.
Jan.
Dec.
Jan.

Wall about, Brooklyn
RSSscellaiieous.

2^2

Jan.

Dec. 23 to Jan.

American Steel Casting, pref
American Sugar Ref g,com.(qu.)

313

Dec.
Jan.
Jan.
Jan.
Jan.
Dec.
Deo.
Dec.
Jan.
Jan.
Jan.
Jan.
Jan.
Dec.
Dec.
Dec.

20 Dec. 19 to Dec. 20
2
2 Dec. 12 to Jan.
2
2 Dec. 12 to Jan.
2
2 Dec. 12 to Jan.
2 Dec.
6 to Jan. 1
to
29
30 Dec. 15 to Jan.
30 Deo. 15 to Jan.

Dec.

30

New York &

&

Harlem, com.

2>fl

4
4
2
3

pf.

Northern Central
Pennsylvania & Northwestern..
Pitts. Bessemer & Lake Erie, pf
Providence & Worcester (quar.)
St. louls & San Fran, Ist pref..
Street Railways.
Chicago City Ry (quar.)
Louisville (Ky.) Ry., common...
South Side Elevated, Chicago. ..

West End

2i2

2
3
1
1

Boston, pref

St..

I

30

to

to

+0
to
to

18 to Jan.

1

Bankn.

"
"

"

3

pref.(qu.)

1^

pf.(8.-an.)

312
212

American Thread, pref.
Calumet & Hecla Mining
Celluloid Co. (quar.)
"
" (extra)
Chlc.Jc. Rys. & U. Stk.

$20
114

1

Yds .com.

pref. (qu.)
Cable (quar.)
"
(extra)

Commercial

4
llfl

1%
1

Dominion Coal, Ltd pref
Maryland Coal, pref

4
2

"

1

,

"

"

(extra)
National Gram-o-phone (mthly.)
National Steel, pref. (quar.)
New England Cotton Yarn, pref.
Rubber Goods Mfg., pref. (quar.)
Union Bag
Paper, pref. (qu.)
Welsbach Light (qu»r.)

&

1

1^
314
1^
1%
10

Jan.
Dec.
Jan.
Dec.

Prime bankers' sterling bills on London. 4 82 '3)4 82i«l 4 87'®4&7»fl
Prime commercial
4 81 @4 8II4
Documentary commercial
4 80i4®4 813j
Paris bankers' (francs)
5 22V®22ifl
5 1938*®1938
4014 '©40516
Amsterdam (guilders) bankers
391Bi6®40
Frankfort or Bremen (reichmarks) b'kers
94i8®943ie
Less

*

!]«.

The following were the rates of domestic exchange on
New York at the under-mentioned cities to-day: Savannah,
buying }^ discount, selling par; Charleston, buying par,
selling 1^ premium; New Orleans, bank, par; commercial,

—

United States Bonds. Sales of Government bonds at the
Board include $210,500 3s, coup., at 1095-^ to 110; $900 ditto
(small bonds), at 109i^ to 1093^; $9,500 3s, reg., at 1093^ to 110;
$3,000 4s, coup., 1925, at 133i^ to 134i^; $5,000 4s, reg.,
1925, at 132% to 13434; $4,000 4s, coup.^ 1907, at 11 31^ to
IV6^4; $2,000 5s, coup., at 1113^ to 1123^ and $17,000 2s, reg.,
at 102. The following are the daily closing quotations; for
yearly range see seventh page follovnng.

2

2

2
I

30

30
16
)

IS

Dec.
Dec.
Dec.
Deo.
Dec.
Dfc.
Dec.
Dec.
Dec.
Dec.
Dec.

15 to Jan.
1^ to Jan.
22 to Jan.
22 to Jan.
21 to Deo.
19 to Jan.
19 to Jan.
6 to Dec.
21 to Deo.
21 to Jan.
9 to Dec.

—
—

1

22

31
1

1

16
30
1

14

to
to

Dee.

Dec.

Dec.

Dec.

Dec.

2

Interest

—

2

Demand.

Sixty days.

8.

$1 50(a$l 25 discount; Chicago, par; St. Louis, 50c. per
$1,000 premium; San Francisco, 10c. per $100 premium.

to
6 Dec. 23 to Jan.

1 Dec.

[Vol. LXIX.

4.

5.

6

7.

Periods.

*102J4 *102i4 *102

reg. 0. -Mch. 102
reg. Q. - Feb. \{iQ\
38,1918
coup Q. - Feb. 10958
38, 1918
3s, 1918, small. reg. (^;. -Feb.
38, 1918, small, c'p. Q. - Feb. *109
reg. C;. -Jan. *11214
48, 1907
coup. 0. -Jan. •11314
4s, 1907
reg. 0. -Feb. 132-^
4s, 1925
coup. C;. -Feb. •1323^
4s, 1925
reg. qi. -Feb. *llll4
58, 1904
coup. Q. - Feb. *llll4
58, 1904
2s,

*

This

is

8.

"10214

*109% '109% *109% 109% 109%
109 '8 1C9%
109% 109% 110

•

* -

-IO914
*112l4
113»«
•ISi^a
*13278

•109^4 109H 1C9% * 10914
*1123e *112ifl *\\2^ 112%

^11114

111% miifi *1125f, 112ifl
no sale was made.

mm

ni338 *\\ZH 113% 113%
13358 i:-3i4 I3414
1331$ *133i4 I3414
*11138 miifl *11258 111%
«133ie

•133ifl

the price bid at the morning board

State and Railroad Bonds.

*102

Dee.

— Sales of

;

State bonds at the

Board are limited to $15,000 Virginia fund, debt 2-3s of 1991
WALL, STREET, FRIDAY, DEC. 8, 1899.-5 P. M.
The Money Market and Financial Situation. — Current at 86.
The railway bond market has been exceptionally dull,
events this week were of considerable public importance.
transactions at the exchange were limited to an average of
Congress got to work more expeditiously than usual and
the progress making in currency legislation has been highly only a little over $1,300,000 par value per day, and there was
encouraging. In spite of that fact the money market and a general tendency to weakness. In the active list the
other conditions have had a depressing effect in Wall Street,
where the volume of business has been limited and the tendency of prices downward. Although last Saturday's bank
statem.ent was about as favorable as had been expected, it
was not followed by any easing up of the money market, and
to this fact may be attributed no small part of the weakness
referred to. The action of the Bank of France in raising its
discount rate from 3 to 3},^ per cent, a course which has
rarely been deemed necessary in recent years, has attracted
attention.

There seems to be very slight
like ease in the local

money

prospect of anything
market before the middle of

when

the heavy disbursements oa account of interest and dividends will increase the sum of available
funds. To what extent this or other factors may be expected to relieve the situation in the near future is wholly
a matter of con jecture, and liable under present conditions
to be over estimated.
The open market rates for call loans on the Stock Exchange
during the week on stock and bond collaterals have ranged
from 3 to 12 per cent. To-day's rates on call were 5 to 13
percent. Prime commercial paper quoted 5}4 to 6 per cent.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £333,495, and the percentage
of reserve to liabilities was 44"30, against 4r20 last week;
the discount rate remains unchanged at 6 per cent
The
Bank of France shows a decrease of 500,000 francs in gold
and 1,225,000 francs in silver.
The New York City Clearing-House banks, in their statement of Dec. 2 showed an increase in the reserve held of
$4,414,500 and a surplus over the
required reserve of
18,536,700, against $6,652,200 the previous week.

January,

decline of a full point was rare and in most cases did not exceed a minor fr^tion, until to-day, and there seem to be no exec ptions to the general course of the market. It is to be noted,
however, that almost no high-grade issues were included in
the sales reported.

—

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
Week end. Dec. 8.
Jan. 1 to Dec. 8.
»
Sales at

—

—

>

,

N. T. Stock Kxch.
Government bonds
State bonds
RR. and misc. bonds....

,

1898.

1899.

1898.

$251,900
15,000
7,669,000

$433,840
112,000
31,287,900

$9,813,840
1,940,700
788.871,400

$28,893,320
3.153,200
802,589,310

$7,935,900

$31,833,740

800,624,940

$828,635,830

1899.

Total

163.025.010
100.783,593
Stocks-No. shares
3,167,870
2,368,107
Par value
$306,095,400 $229,151,100 $15,804,93i,150 $9,668,550,625
Bank shares, par value.
$12,225
$328,575
$197,635

We add the following record of the daily transactions
Stocks.
U.S.
Week ending
Railroad, <6c. State
.

•

Monday
Tuesday

Wednesday
Thursday
Friday
Total

The

sales

Shares.

Par value.

229,007
585,070
506,756
655,964
470,007
721,066

$22,430,700
56,936,000
49.707,600
63,916.850
44,078,600
69,025.650

1837.500
1,467.000
1,185.000
1,341.000
1,282,500
1,556,000

$10,000

5,000

$27,500
6,500
25.500
18,600
26,800
153,000

3,167,870

Dec. 8, 1899.
Saturday

$306,095,400

$7,669,000

$15,000

$251,900

Tuesday

Wednesday
Thursday
Friday
Total

-Bos ton.
Unlisted

Bond

-Philadelphia.
Listed Unlisted Bond

3,945
11,103
16,393
18,043
11.058
18,978

sales.
$25,700
25,110
31,075
78.000
49.335
44.500

shares.

12,755
19.452
27,740
31,636
23.345
30,267

4.675
14.370
12.431
12,946
13.596
15,989

11,835
16,862
10,654
11,647
8.588
17,032

sales.
$58,555
109.400
141,500
118.931
79.660
197,700

145,195

79.520

253,750

74,007

76,608

705.740

shares.

Mondav

Bondt,

on the Boston and Philadelphia Exchanges were:
Listed

Saturday

Bonds.

Bonds.

shares.

shares.

and Miscellaneous Stocks.— The market for
stocks was dull and continuously weak until late on Thursday, at which time the active railway list had declined an
average of between 1 and 2 points and the miscellaneous
list a much larger average.
The rally which then occui'red
was led by Chicago & North West, and St. Paul & Omaha ou
a demand for those shares stimulated by the po.esibilities of
increased dividends, the latter advancing 63^ points from
our last quotations. To-day's market was pretty well de-J
moralized. An advance in the dividend rate of North West,
to 6 per cent and of St. Paul & Omaha to 5 per cent had nc
perceptible effect, except upon the shares directly benefited!
and the lowest quotations of the week were generallyj
recorded. The grangers were relatively strong on excel-^
Railroad

1899.
Dec. 2

Differen'sfr'm
Prev. week.

1898.
Dec.

3.

1897.
Dec. 4.

$
Capital
59,422,700
Surplus
79,083,700
..
Loans &di8c'nte. 682,159,800 Inc. 5,523.400
Circulation
16,480,900 Inc.
9,300
Net deposits
748,078,000 Inc. 10120000
Specie
145,314.500 Inc. 3,303,900
Legal tenders
£0,241,700 Inc. 1,110,600
Reserve held
195,556,200 Inc. 4.414,500
Legal reserve
187,019,500Ino. 2,530,000

Surplus reserve

8,5S6,7flO;Inc. 1,884,500

58,272,700 68,522,700
75.911,300 73,810,9C0
697,747,400 597,744,000
16,439,200 15,916,000
789,525,800 666,278,600
158,462,300 104,489.800
5f,017,l00 84,202,800
214,479,400 188,692,600
197,381,450 166,569,650
17,097,950

22,122,950

Note.— Returns of separate banks appear on pages 1178 and 1179.
Foreign Exchange.— The market for foreign exchange has
been generally firm on a fair demand for bills and high discount rates on both sides of the water.
To-day's actual rates of exchange were as follows: Bankers' sixty days'sterling,4 813^@4 81-3^; demand, 4 863^^4 86-3^;

lent traffic reports.
As noted above, the miscellaneous list was exceptionallj
weak, American Tin Plate, American Tobacco, Americai
Wire, Linseed Oil preferred, Con^
Sugar Refining, Steel
tinental Tobacco, Federal Steel, General Electric and Ten^
Railway declining from 5 to 93^ points.
nessee Coal, Iron

&

&

Dec.

9,

THE CHRQNICLE.-STQCK

1899.]

NewYork

Stock

Exchange-A

Daily,

PRICES

Monday,

Tuesday,

Dec. 4.

Dec. 5.

•18
•45

•18

33

«5%

30

45
82)<

46M

•66

33)i

8594

65
•94

•94

•SSH

54H

539^
•93

•93
188<4

•94h

9S

59
96
96
54
95
133

18

44%

32

57
83

84H

Dec.

30
46

•44)6

56)4
8IVS

S3?«
86?4

69
»H
96

»94«

•18

64% 66

66>4

58

83«
83«

20
15

Wednesday Thursday,

23)6

33

84)6
6596
8094
82V6
*35
*94
94)6

65)6
5696

6496
5591
8094

Dec. 7.

6.

18
44%

30
46

88%
85%
66%

2896
6496

5391

53%

•55%

96

'94

81%

94)4
'53)6 54)6
9396 9396
1209i 131)t
89% 3094
13194 133)4

Dec.

55
93
94

63)<

8391

39
96
53)4

30

44^
11^ 83%

STOCKS.
Y. STOCK EXCH.

Ann Arbor
Do
A.toh.

65
56

6S9i
5494

1181

Sales
of the
Week.

Range for year 1899.
On basis ofioosh're tots

Shares

Lowest.

Bighest.

Range for previous year (1898).
Lowest.

Higheit

Railroad Stocks.

44

8296
^5S4

65% 56%
82%

83

N.

8.

•18

20
46

8196

94

82
84
69
96
94

82
85
59

Friday,

1.

Weekly and Yearly Record.

STOOKS-HiaaEST Ayo LOWEST SILS PRIOES.
Sattirday,
Dec. 2.

Page

(2 pages)

1

pref

Topeks & Santa Fe

Do

310
17,035
87,262
13,342
40,848

pref
Balt.40hlo,Tot,tr.certfi
8194
Do
pref
8296 Brooklyn Bapld Transit.
277,742
58
Baffalo Booh. * PlttibnrK

80%
81%
'65
93
96
Do
94% 94)« "Canadian Paolflo
53% 52% C''anada Southern

pref.

600

4

Apr 29

86 May
17 May
5096Jan

8
9
7

43%J'ne 33
67%J'ne31

19%Oct 26
48%Oct 86
34%Feb 23

68%Aug
81%Apr
85%Nov

11

Apr

84

Jan

r«b

16

lOMApr ivSdm
22%Mar 539(Dm

34

12
28
30 187 Apr 15
75%Sep
30%Mar 84 59 Nov 39
69 May 9 98%Sep 82
8496Mar 15 99%May31
50%J-ne 3 70 Jan 33
85 Feb 20 9t Nov 39
97 Jan 3 12 696 Nov 2

31

88
35
35

Oct
Oct

68%Dm
79%Dm

Mar 78%D«o
Mar 84 8«p
63 May 76%8«p
78 Apr 90%Jan
44%Mar 68 Dm

1,098
"apital Traction
5O0
1!
131
68 Jan 70 Jan
\\S\i Central of New Jersey.... 18,095
31}< 3194
SOH 817^
309* Chesapeake & Ohio
83%Oot 99
98,705 339<May 31
188H 134J4 i8i9< 134^
31%Dec 4 17%Mar 3696DM
13ii
Chicago Burl. & Qnlnoy... 91,637
40
46
45
45
45
45
•43
124%Jan 7 149%Feb 18 85%Mar
44% '
46
48% Chicago Consol. Traction.
97
97
300 44 Sep 30
186)iDM
97
97W 96
96)6
96
96
94% "95"' 96
96)i
•136 129
3,360 599iJan 4 6896Apr 89
135 130
139
125 139
125 189 125 189 Chicago A Kaat. Illinois. .
100%sep 1 49 Apr 66 J'sa
Do
14« \iH
pref.
149g 14H
14M 1496 14
11291Jan 3
14%
14
14
7 108 Jan tl3%7eb
1496
17)5 20 13 J'ne 1 13396Sep
91H 93 •91^ 93
91% 9194 8096 91% '90)6 91% •90% 149( Chicago Great Western.
8C96Jaii
9%Feb 18 Aog
Do 4 p.c. debentures.
83
83
760 8396Jai. 3 l03%Aug 83
889^ •81% 83%
82H
80% 81% 82% 83% 81
12
71%J'ly 85
8196
Do 6p.c.pref. "A"..
1,180 5094Jan
•40M 41
39)4 40J4
39)i 4091
5 85%Aug29
4096 4096
41% 41)4
28 Mar 54
40)4
Do 4p.o. pref. "B"..
1,110 28 J'ne 88
1694 16
17H 17H
15X 16% 15
15
•15% 16h
4496Sep 6
14% 15
30 Apr 88 Not
60^ 60H 4094 50^ 48
2,686
4»
49
•48
79lJan 6 19 Nov
49
47 49 Chlo. Indlanap. h LoqIst.
50
7 Feb 11 J17
Do
pref.
863 31 Jan 4 62%Nov 83
135), 1239^133)^ 133
184H.
184% 188% 133% 133% 134
23
138% 12394 Chicago MUw. & 8t Paul.
33 Apr 38%jny
•173
174
Il74
46,165 120%Jan 3
174
8174)6 174% '173
174
173 173% 817898 I739t
136%Sep 6 88%Apr 13091 Deo
169 169
I
455 l66)4Jan 3 179
pref.
163
„^ Do
66)i 168H 168
166 166
167 169)» 163 169
Sep 5 140 Apr
Chicago & North Western.
•803 305
•301
3,568 141%Jan
804
'301
166%Pm
305 S801 301 808 805
4 173
Pep 6 113%Mar 148)^M
201
'201
Do
14 188 Jan 19
pref.
113J< 114H 112% 114
118% 112% 111% 113% 111% 112% I119i 112%
210%Sep 7 163 Jan 191%N0T
Chicago Rock IsL & Eao.
16,655 107%May 13
I119H 119H 118 118^ '118 120
118% 118% 119 130% 120 184 Ohio. St. P. Minn.
'22%Jan 37 80 Mar 114MDM
•187 176 •l67
St Om..
8,59e> 91 Feb
'170
176
177
•170
8 126)6Sep 38
175
171
171% 175 175
65 Mai 94
Do
•18
14
13
1,086 170 Jan 16 185
pref.
13
18
18
12
13% 119i 13
Sep 1 §148 Jan 170 Not
119< 1194 Ohio. Terminal Transfer.
43
2,662
43
42H 43
40X 41
7%Jan 7 25%Mar 27
39
41
•38% 3994
39% 40
4%Jan
996Mar
68
2,0S0
_ Do
63Ji 64H
64X 62% 63)6 62% 629i 62% 63
61% 6296 Glev. Cln. Chlo. & St. pref. 16,684 36%Jan 3 56%Mar 87 32%Jan 37%Allg
108 lOS i\OiVi 105^ 105 106)6 •103
L....
42%Jan 4 8496Nov27 25 Mar 47%Au«
107
•105
•100
108
106
Do
16« 18>i 15« 15H 11
834 94 May 10 108 Dec
pref.
1594
14% 15% 11
1
15% •13
77%Mar 97
13)4 Cley. Lorain St Wheeling.
•48
•40
500
49
48
49H *10
•41
9 JMy
47
5
44% 49
45
ll%Mar l9)<Jan
45%
Do
300 37%J'ne 23 169<Jan 36
10
IIU
pref
9Ti 1094
99i 10)6
10% 10% 10%
49%Dec 1 43 Nov 53)|sep
„9%
e« 9% Colorado Mid., vot. tr. otfs. 8,885
3454 34%
3894 23)6
249i 2494
5 Oct 12 ll%Dec 4
2391 23
23% 33% 31
33
6%J'ne
Do pref. vot. tr. ctfs.
9
2,S10 16%J'ly 14 37
«H
8>4
6% 6)4
6)4
Sep 6
«^
14 J'ne 209iDM
£H 8%
69i
59i Col. & Sou., listed May 34
.%
4,978
48M 48i, 48M 48)i 4694 4694 47
496Sep 13
47% 47
8%Jan 6
47>,
46
696 Nov
46?,
Do
896Deo
Ist pref.
19
19
do
1,382 419<J'nel6 58%Mar
1894
«18>s 1894 18
18
•17
18
18
17
16% 17
4396NOV 5091Deo
Do
2d pref. do
130« 18(?i 120 130)4 130 180
850 1494Sep 16 25 Mar 22
11891 130
11791 120
117>6 11894 Delaware X Hudson
149iNov 20 Deo
18894 187X 189
11,856 106%Jan
§187
187
3 12594Apr 20
185 187
184
186% 181 18696
93 Nov 114%Feb
el. Lack, (fc
8,254 157 Jan 7 194%Oct
80H 3094
309^ 30H
30X 8096 20% 3096 80% 30% 30% 30)1 Denver & Bio Western...
30 140 Oct 159 Feb
Qrande. ...
3,085 18%Jan 7 2696Apr
75)4
7496 74),
7394 74H 57394 73%
27 10 Apr 31%Dm
74% 7496 74)4 74)1
Do
30
pref.
1,210 68%Jan 11 80 Apr
17
17
1^^ 17% •16)6 18
17
17)6 16% 18
40 Apr 7196DM
Ues Moines & Ft. Dodge.
.7«
30U 13)4J'ne 1 33%Jan 27
794
6% 7
•6%
•6
3
e« 6%
,2^ ,*^
8?6Apr 33% Dee
«9l
694 Dul. So. Shore & Atl
17
895
16
18)4 17
16)6
3 Apr 11
15)4 16
8 Nov2S
15
15% •15
iAug
•13
pref.
1,425
13% 13% •13% 13%
13)t
13)j
791 Jan 30
l';%Nov 28
13% 18H
Apr
rle.
8«Aaa
1,300 12%J'ne33
38
87)4 3?)4
37)i 37H
37)ft
37
37
16%Jan 19 11 Apr 16%Feb
86
37
36
3691
Do
•18
20
•18
1st pref.
18 80
3,294 38)6J'Qe31 42 Jan
80
•IS
80
18
34
39%Apr 4 396 Feb
18% 18
20
Do
45
3d pref.
45
45
144
45
44
16%May 8
44% 4491 •44% 46
44% 44)4 „
Kvansv. St Terre Haute
"833 36 Mar 38 33%Jan 80 15%Apr 8196Feb
•90
•90
91
»l)6
91X 9J
90
•87
90
46%Nov
•87
91
91
Do
pref.
300 70 Jan 7 98% Sep 17 88 May 4196DM
9
40 Jan 78%Dm
•.".'.'.'!! "25"
Ft.W.4 Den. C, stamped
85
14 Aug 9 36 Jan
'.
25
3 § 15 Nov 88 Mar
25
t. Worth A Rio Grande.
176V6 176H 17596 179
176 178
14 Feb 1 30 Mar 88
iVe" 177% '17791 178
10 May 17%Dm
173
17694 { IJ.reat Northern, pref.
13,391 143%Jan 6 195 Maris
tl88 J'ly 180 J'n«
vJr'nB.&W.,deb ofs. "A"
• • • ••
• • • • t
4 9% Jan
5 6l%Jan 31
40%J'ne 50 Deo
Deb. ctfs. "B"
86
85
349< 35
3394 34%
6 May 4
33
•32
83
9%Oct 81
34
8%J'ly
83% 34 Hocking Valley
66
1,697 88 J'ly 12 3796Sep 6
66)4 IB1)4 66)4
639* 64)4
64
6396 64
64
64
Do
3,267 64%May 13 68%8ep
pref.
115)6 116)6 114% 116%
1169i 116
1149( 114
6
114)4 113% 114)i I lUnols Ceblral
•18)6 14
6,419 110 J'ne 1 122 Jan 33
1394 1394
•139i 14)4
13% 13% 14
13% 14
•68
69
310 10%Mar 7 1591Aug 24 96 Apr 11696
58
68
66% 6b% 'If" 56% 6696 6696 56% 57 Iowa Central
7%Mar 11%Dm
1^0
•11
•11
810 43%May 31 62%Aug 25
13
10
pref!
12
11
•11
11
12
85 Apr 43%Dm
12
•10% 12
(/"anawha & Michigan ..
400
10)6
«%
9H 9H
79lJan 13 15 Mar 32
996
9
5i(60ct
9%
8
9M iVan.Clty Pitts. & Gulf.,
1,900
•3%
•8J»
7 Mar 15 18 Jan
•3?«
6
16 Apr 35%Dm
4%
4)4 lieokuk 4 Des Moines
2^ „3%
•18
100
20
30
•18H 3t^
•18
8 May 9
20
•18
5% Feb 1
3 Jan
30
«17%
5%J'nt
•30
81
pref!
34 15 Mar 2 23%Aug 86
80
30
20
30
80
20
16 May l8%J'na
20
1994
2J
ake Brie & Western. .
80 81
•80
850 1491J'ne 9 22%Jan 27
80
80
80% i7»91 799< n^H. 80% •80
•80
12 Oct
38%Aa«
80%
Do
•806 210
'206
610 60 Jan 16 81%J'ly 28
8J5 205 •306 31U •305 210
pref.
310
53 Oct
83 Aa«
Lake 8h. <k Mich. South.
•65
•54
60
•51% 60
1,938 196%Jan 5 308 Jan 84
60
•55
•65
60
•55
60
170HJan 316
60
Long Island.
83
8596
859i
8496 85%
8496
46 Nov 9 85 Apr 4
8396 84%
40 Jan 5 9% Aug
839< 84%
83
839« Louisville 4 Nashville.!!! 21! 885
106)6 105% 106
10«96 10396 1039* 10:^96 104% 108
104% 102% 10396 YT anhattan Blev.,consol 81,445 63 Mar 6 88960ct 30 44 Apr 65%Dm
193)i 193)4 192
19394 19194 193
97 Jan 4 13396Apr 3
191% 19294 192 193% 187 1919, '^Aetropolltan Street
90 Oct 120%Jan
15,817 187 Dec 8 269 Mar 38
89
29
30
29% 28
89
•28
29
29
39
Viet. West Side Bl. (Chic.)
500 13%Augl2 29%Nov 83 135%Mar 19491DM
»8
i80>^ 80)6
8^
31% 88
81% 8I94 '81% 83H
13
?° „
pref.
18)4
13
1,045 44%May 5 83 Nov 24
1396 13J6
13
,
18% 1394
13H 1294
13% 1294 vlezloan Central
2,580
4% 4%
6
494
496
6 Jan
496
7 17%Apr 27
4% 496 , *^ 4%
4%J'ne
7%
4% vlezioan Nafl tr. rects
4M
110
110
1,550
113
115
1
Jan 6
6%Sep 18
%Deo
l»Hay
vllchlgan Central
65 67 110 113 110 113 "65%
•85)6 6694
66H
110 Oct 25 116 Jan 24
66
99%Mar 118
66
66
6B)i vllnneapolls 4 St. Louis
•95
•95
•96
97
2,960 35%Jan
93
98
6 78 Aug 29
198
24 Mar 389(Dm
98
97
97 98
98
Do
•88
•33
•33
8d pref.
35
boO 78%Jan 7 99%Nov 18
85
35
•33
•33
46 Mar 78% Deo
35
•30
84
24
Minn. St. P. 4 8. a Marie.
•63
•63
•63
66
66
65
•63
89<Jan 24 37%May 18
65
•62
6%Mar 7 Mar
64
60% 60),
Do
•IS
13
la
pref.
200 39 Feb 10 78 May 18
•119< 12%
13
12%
38% 40 •38)6 39)4 38 88)6 •119i 38)4 •119< 18% 1191 12% vio. Kansas 4 Texas
600 1196 May 10 14%Jan 30
10 Apr 14%Jui
37%
3796 38%
86% 37!4
Do
pref.
6,040 30%May 31 45)4Aug31
48X 4894 4796 48)6 469< 48
2891Mar 41 Jan
4691 47%
4694 47%
45% 4694 tflssourt Paclflo.......
•44
•44
44
46
38,435 389iJ'ne 1 58%Apr 4
46
45
•44
22 Mar 46%Dm
45
•44
45% 43
43
\loblle4 Ohio
•186 188
300 33 Jan 3 53 Aug 38 84 Nov 33%r*k
183 187
a86 18b
182
Horrls4 Bssez
184 13494 13296 134)4 133 13396 13291 183 §182% 184%
235 176
8
133% 13391 134
182% 13394 VT Y. Central 4 Hudson. 18,022 13 194 Jan 3 §187 Nov 21 il67)6Jan nso
Jan
494
5
6)i
5%
14491Mar89 105 Mar 184^Dm
4% 5
i.^ Do
4% 6%
6
496
rights. 47,072
.^ -™
•1396 15
•1J96 15
14H
4
491 Dec
6% Dec 3
•1396 15
•1396 15
18
1396
Y.Chlo. 4 8t.Loui8....
83
•81
600 18 J'ne 39 199iJan 38
83
*9i
85
ll96Har 1696Jan
80% 80% 80
80
Do
•35« 869< 34)6 86)6 •34% 36% •80%
1st pref.
410 65 Mar 7 86 Oct 81 73 Feb 78 Jan
86% •34)6 35% 84% 84H
Do
8d pref.
200 39%May 34 41 Jan 83 28 Mar 40%Jaa
New York 4 Harlem
•183 135
•133
130% 133 '130% .... '130% 133
§360 Jan 25 §390 Mar 14 §320 Jan §352 Oct
133
V Y. Lack. 4 Western.
•815 218 215 330
300 129%Jan 27 U38%Marll 1120 Apr §128 Not
•314
819
316 315
'213
318 §312% 313
.'*. Y. New
Haven 4 Hart.
350
35
85M 8596 35
85)4
35%
20
34)4 35%
34% 84% N. Y. Ontario 4 Western. 24,715 9198 Jan 19 !322 Apr 37 §178)Uan 301
*oo ....
'85
•85
1896 Jan
3 28%Mar
87^..'.!!^
1896Apr 19%Dm
Norfolk & Southern. .....
87
S7)<
70 May 15 88%Nov 8
26% 87
86% 8694 26
60 Nov 66 Jan
8696 '38% 88)6 '259i '86)4 Norfolk 4 Western
71
71
17! 785
1796Mar 17 8896Aug 33 llXApr 1«!>6Dm
7096 71%
70% 70% 70
70% 70% 70% 69% 70
Do
57
pref.
5,473 6196Jan 6 74V4Aug 23
6796
55
3594 57)4
56)6
48%Mar 68i6DM
56% 65% 5596 56%
56
77X 77)6 76
76% 75« 76% 76% 76% 75% 76% 6494 73% Nor.Pao. By., rot. tr. ctfs. 71,722 4396Jan 7 57%Aug 24 19 Feb 44SDM
76%
Do
• •••• •••«!
pref.
15,278 72)40ct
8 81%Jan 86
66%Mar 79168«>
0r.BR.4N.Co.T0t.tr.cfs.
••••••
38 J'ne 2 68 Jan 83
••••I
86%Jan 61MAK
Do
51i4[
60% 51
51
6891J'ne 18 779lSep 331 e5%Mar 78 Not
60% 50% 60% 60% 50% 60% •••••# 60 T>aolfla pref., vot.tr. ctfs.
60
•86
Coast Co
•86
90
88 90
38 May 11 54 Nov 1
90
349lJ'ne 48%8«p
86
86
•88
•86
A Do 1st pref
90
90
65 67
100 84%Apr 18 90 Feb 80
•65% 67
65% 66
•65
79 Dec 91 J'ne
67
•64% 66
165
65
Do 2d pref
136 13696 I3i96 13594 134 185
335 68%J'ly 6 6891NOV 1
57 Nov 69 S«p
13396 13191 134% 135
183% 184% Pennsylvania
22,351 133%Jan 6 148 Jan 83 11094Mar 183%Dm
.^^ JiH 4% „l« „^«
4
4
4% 4)6 Peoria Decatur 4 Evansv. 16,310 1 Jan 19 796NOT 28
•78)4 74% •73% 74%
73% 74
%Jan
8%May
73% 73% 70
73
70% 71)4 Plttab. Cln. Ohio. 4 St. L.
i38% 88)6 •89
2,830 48 May 11 88 Jan 88
•89
94
94
88'%Jan 68%Dm
198
93
89
89
885
85
Do
•30%
pref.
150 80 Feb 10 100 Aug 17
80
2096 80%
07 Mar 84%Dm
30% 19% 80
19% 3C
19
19%
eadlng, voting tr. ctf g
6,280 19 Dec 8 85 Jan 84
60
58% 5994 58
15%Mar 8896 J»n
68% 6796
56%
36
67%
31% 31% 31% 30% 3096 29% 58% 29% 58% 39)1 39% *-V let pref., vot. tr ctfs. 25,425 6191Jan 7 68%Apr 4 36 Mar 6496 Deo
30
30
2d pref., voting tr ctfs.
7,038' 26%Jan
7 38%Mar 88
17940ct
89 Jan
Bld^d Mked price, i no .ales on thl.day. I Le«, than 100 share., Bx
dlv. and rights. * Before payment of assmt. T AU
t
a«.e.st.. paid.
'98
•92% 95
1189ill80)t 117% 120)» nj,H
30
30% 80% 31% 3991
131% 133
18191 138% 13096

93

93

95

Dm

'

9m

.

Dm
Dm

.

_

Dm

Dm

Dm

8%Dm

EDO

-

.

'

f

. .

•

7%DM

Dm

m

8«

Dm

8%

V^ LUo

.

Dm

.

Dm
Dm

Dm

.'*.

34%

. .

Dm

I

.

p

OUTSIDE SECURITIES

atreet Rallwaye.
_ NBW YORK CITY.
_

BlMok

Bt

4 Ful F— Stock

Bid.

85

Ask.
40

Irtmort 7s 1900... J&j 100 102
B'way 4 7th Ave— Stock. 336 240
Istmor 6s 1904... J4D 104 106
Sdmor 6s 1914.... J4J 108 HI
Con 5s 1943— Sm Stock Biohl Ist.
BwaySnr I8t58gn.l924 115 117
«d 5slnt as rental. 1905 104
106
Cwitral Croistown- Stock 370
300

l»tM 6b 1923
M4N {184
Mi Pk N 4 B RlT-Stock 190
OOMOl 7s 1902
J4D 108

188

800
109

(Given at foot op

Stree't

Railway
.

ooxsecutiye va.q'rb).—S1REE2

Ask.
175

Bid.

Chrlsfp'r&lOth St-8tock 170
Col4 9th Ave 5s-S6(! Stock Bxoh
Dry D B B 4 Bat— Stock
136

7

I

Ist.

150
118
1U6

1st gold 58 1932... J4D §115
Scrip 5s 1915
F4A 104
Avenue— Stock.
400 430
Scnp 68 1914
108% 109
42d & Gr St Fer— Stock.
395
42d St Man 4 St N Ave.
72% 77%

Eighth

.

.

lstmort68 1910.. M&8 116% 118
8d Income 68 1915. J4J
89
91
Lei Av4 Pav F 58-S«« Stk Bzchl at.
Metropolitan— S«« Stock Hzohl ISU

.

I

'

Street Itallwaye.

Ask.
Ninth Avenue— Stock.
1»5
196
Second Avenue— Stock.
198
200
1st mort 5s 1909. .M4N 108% 109
Consol. 5s, 1948.. .F4A 116
118
Sixth Avenue— Stock..... 805
230
Sou Boulev 5s 1946.. J4J <110 113
So Fer Ist 5s 1919. .A40 «110% 113%
Third Avenue— ,See Stock Kxch list.
88th 429th SUlst 58.. '98 S116
118
Twenty-Third St— Stock. 395
Deb 58 1906
J4J 106 108
Union Railway- Stock... 190 800
Union Ry 1st 5s '42.F4A 115 117
Bid.

RAILWAYS,

Street Rallwaye.
Westohest

<&c.

Bid.

A»k.

«110

Hi

Ss..A40 iioe

1st 6s '48..J4J

BROOKLYN.
Atlan. Ave., 1st
Con 58 g 1931

Impt 5s g 1934
B.

A&O

113

108
114

J4J

100
101

ioiji

838

240

B.4W.B.58 1933.A40

Brooklyn City— Stock
Consol 58 1941

JAJ 116

BklynCro88tn5sl908.J4J 105
»•••
BkinHgtslel 5sl941A40 104
••••
8'kyn Q Co.4 Sub— See St ck Ex. list.
Bklyn Rap.Tran.— 8« Sto ok Bz iLift
•

•

STOOHS-aiQHEST AND LOWEST SALE PRIOES.
Friday,

N. Y.

Dec. 8
•48

44

7

91
7

•50
*17

STOCKS.
STOCK EXCH.

Rio Grande

& Weit«rn.

Do
St.J.&G.I«l.

vot.tr. ots

•11%

la

St.

Lonli Booth weitem.

Do

30

10

68

'59

St.

Paul

Do

102^ioaH

A

pref

Do
B7H
17M '^pexasA Paolflo
Ihlrd Avenue (N.Y.)..
146V6145H
t6\i
17

20
40

9%

.

569i

eas
36H

S6
96
sa

9«

34

fl-3

34
SI48
34
•76

15

15Vi

00

6' 94

1149"

84

83

78

I75ii

10

10

61

145

13

5e^

12H U9i

89

9M
41
37«

44

44

40

;.9

88>|

9'%

91

90

89H
9IH

90

80%

47J4

47Jt

4''9i

4';o)

«6«

41:}^

8o

84i6

«<4H

63

47
84>4

4U9i
«c9a
15«>»

4'.>4

4-H

46^4

48

43^

95

95!*

93)i,

161

168%

\<i'»H

ii'9< 119
9-94 J98

l>94 lie?*

1

51

5f9«
10
41

8!? 94

ltt%

749i

76

9

43

39

81>«

168

llt9l ll89i

9-H

77
12

649*

•8H

10

American Linseed

Do

pref.

45
89

American Malting

Do
40H 40^
35^ 88H Amer. Smelting & Refining
pref
Do
89
8M
8»% 88
4I« 43 American Steel Hoop ....
46
43
pref.
Do
81>, 82i6
88
88
40
44H Amer. Steel & Wire (new)
4tM 46
pref
Do
94« 949* 92« 94>^ American Sugar Refining.
,47^152)4
151»4 163
pref
Do
11894 1189*
•11894 li'O
•95
99 American Teleg. & Cable.
•96
99
379<

9U9«
46
8-'H
4b9i
9

pre'

Do

U^

63

5t9s
10

pref.

American District Tel ....
148 American Bzpress
•
839i American Ice
pref.

83

76

76

69%Dee
35 Nor

iSviJ'iy

3

3816De«

Apr

17

Feb 24

SlKDec 2
1
84HJan 23
19
8%Jan 24
24 25HApr 5
1
18 Aug 31

20

29
21l6J'ne23
18l4May 24
4894May 26

64

145 Oct i94%Feb
12 AuM 25 Sep
85 Aug 48 Oct
36%Dee
16>6Jan

i

10714 Dec 10716 Deo

1616Mar

4496Deo

45%Mar

7496 Dee

614Mar
1414MaT

24MAag

916Aag

Jan 30

82%Sep 25
81 Nov 3
59

Dec

Apr 100 Deo
86 De«
12 Api
1094 De«
7 Apr
2896Mai 4896De«
8%Mar 20i6Deo

78

Jan 23

4414N0V 24

3 73
9 141

796I>««

18

Aug

•••••

•»•

88

340 S108 Jan 8 5119 Feb 25 «97HApr 38l6Dee
2,630 15 J'ne 15 81%May 25
4,914 5696J'ne 16 68968ep "
1516Mar 158 Not
6,125 3394Mar 6 46 Nov
66 M»r 38 Aug
585 88l4Jan 5 97%Oct 26
88 May 1180 Feb
136 30 Oct 18 52HMar 3
13994 Aug
173 133 J'ne 19 51601»Au 29 1116 Ja
2,015 88 DC 5 41l4Sep 8
•teee eeee
1,130 7494 Dec 8 85 Sep 11
1696NOV 29
6,0
894 J'ne 20

Oil

Do

97
84

83%

76
12
54

e9<

W5?*
isajs '5 7^

144

Do

American Cotton

35

•31
144

339i

82d
2,278

Wlsoon. Cent. new(wh.l8.)

61

95

96
34
148

96
•81

339i

40
85
49
I95M

34^ 35

96
84
145

95

14

60

6i

61H
34H

ad pref.

pref. (when isB.)
Do
lUlflcellan's Stock*.
112
Adams Hxpress Foundry
merlcan Car &
1596

15
60
34

15H 15M

31

3394
75>,

13H

67?i

•io« la
44
44K

97
3«
149

15H

81
34

86H

85

95
>

4

I

15>4

106

.

54M

118

IU1« lllH

112 5114

if.M
62K,

6194

98
f4
147

5
•31

•

82
149
S4

1149

\t'%
6<!H
3 >4

16

114

'112

115

•118

16?*

Do

30
19

39
19
54

115

.

23KJ'ne
914N0T

52l6Ma)
22>6Feb
394 J an
794Mai

44%Jan

9816Jan
27 May

Wabash

21H

Dec
6 Mar

73%Aug26

Central. .
pref
Do
38 Jan
Rapid Transit.
Twin City
485 118 Jan
pref
Do
182,060 3816J'ne
509* TTnlon Paolflo Ry
23,8M3 72 J'ne
.pref.
Do
7694
1,075
714J'ne
794
8,165 19 May
pref.
Do
22^
19,8U
814J'ne
1098 Wheeling & L. H., new
975 50 J'ne
1 St pref.
Do
669*
8,802

48'^
7594

lH9i

& Ohio

Toledo

25
50

Feb

13

15.810 10 May 31 141* Oct 80
4
5896NOV 29
23,271 40%Jan
"
259*Mar 1
5,040 17 Dec
3 24a Feb 27
1,009 140 Oct
20 Jan 21 29 Apr 4
100 35 Jan 25 45 Dec 2

tr. otf a.
pref., vot. tr. otf»

12M

SHDec

32

894FeD
83 J'ne

45

76l6Jan

1814Aug
409*AUK

Aug

09MA«e

14%Feb

Jan
36 Jan

Highest.

28 May
50l4Mai

Nov 27

6

17

800
250
172,884

Co

1

694 J an

1,760
7,040

.

44

9OI6N0V 37
71»Dec 1
55 Jan
18 Oct

64 May 18
3314Jan 5

60O
950

Dnlnth

42!4 South ern Paolflo
1^% Southern, voting

4l)H

9 J'ne
896 J an

l,62i

Lowest.

Highest.

26>6Jan 4
66 Jan 3
894J'ne24
38HMay 24

40C

pref.

Range for prefor year 1899.
basisof loo-sh're lots vious year (1898).

Lowest.

400
250
900

. .

l»t pref
Do
2d pref
Do
vot. tr. otf s
1P« St. L. & 8. Ft.,
Istpref.
Do
71^
2d pref
Do

71

Oti

Shares

pref

[Vol. LXIX.

2.

Range

Sales
of the
Week.

5a
18

89

*113

Page

THE CHRONICLE.— STOCK PKICES (2 pages)

llJ-2

pref.

9,877 4414J'ne
1,500
P>,Dec
2,715 40kD8C
10,995 34%Oct
6,178 80 May
16,820 24 May
4,8^0 70 May
70,915 40 Dec
5,356 9aiiFeb
327,63 12814Jan
516 110 Jan
31

aO

61

Dec

1

3

8716Jan
8714Jan
59 Apr
9414Apr

24

4t-96Nov

24

24
26
20
20

9096Aag
88 Deo

2f-

8

8
28
13
8

8
4

18
979iNoT 29

J'lf

76)6J'ly

8694Sep 14
78 May 4
10894 Mar 18
182 Mar 20 10716Mar 146%Ang
123 Mar 20 108 Mar 116 Jan
105 Apr 18 §88 Mar i9816Deo
5294Apr 4

13,918 27 Dec 8
6,068 74%Dec 8 9916 Feb 8
»a^ 3d9t
pref.
84H
Do
74% 76H
7;9< 7eH
81
8394Jan 168948ep
76
SS
8a
166,764 t88HJ'ne 21 22916Apr 5
10H>4 11094 American Tobacco
115
1109s 1149*
6a0 182 Jan 4 150 Mar 6 11214Mar 13516 Aug
116H 113H 115
pref.
116fi U7V> 115M 1"
Do
142^ 143
148
7,0u5 41 Oct 24 70 Apr 26
J 4f
4994 "43H 43M 4394
41H 48 Anaconda Copper
44
910 135 J'ne 6 160 Mar 17 106 Mar 140l4Deo
43
"4>'vi
•44H '48
137 138M Brooklyn Onion Gas
14 J'ne
140
7160ct
140
138^4 138i« il40
•i38
1.750
•1.10
916May 9 2096 Aug 14
141
14^
1141
runsw. Dock&O.Imp't.
15
15
194N0T
15
16% 159i 159*
loo
MApr 32%Dea
696 Apr 81
14% 159a
IHJan 17
17
17
«1'
15
•1«
2i4 Colorado Coal 4 I. Dev't 17,425 8016Feb
19«
IH
17 Mar
2!4
8 64 Sep 11
•i«
iMi
2H
ai,
•1« 2M
olorado Fuel A Iron
51
529*
90 Deo
65 Auii
52« 54H 52J4 54H
IbO 88 Jan 6 180 Dec 1
539i 64^
pref.
64H SE>s 54^ 66 130 185
Do
130
130
994 Deo
13i)
135
135
416J'ly
130
555
135
30
6l6Feb 15 2114Sep 6
1130 130
Hock. Coal & Iron.
I79i 1794 •17« 18H Col. &
18
18
•l^9i 18H
14,710 163 J'ne 6 223l4Mar 11 184 Oct 206HJ'no
•1?
18
19
il8
181919* Consolidated Gas (N. Y.).. 81,715 3494Deo 8 85%Apr 17
19a>4
19
198
191
191M1»'H ImOM 192^ 19UM 19*
3194 379» Continental Tobacco
3;)4 40
3p^« 41U
12,969 78 J'ne 29 l03%Aug8!88K 4u
4094 4194
pref
4'M 4as
Do
45 Apr 67 Sep
9aH
89H w''94 86H 88H Detroit City Gas
68 Jan 4 101 Aug 18
90>ft 91M
92}« 9S
«1H »as
'
'51 9294Jan 18 laOHOct 80
74V6NOV 76160ct
ttrie Telewraph ATeleph.
108
107
52 Deo
29 Oct
110
208,705 46)gFeb 8 75 Apr 3
iuej4 i('89j
l?ederal Steei
66
59M,
8514 Deo
89940ct
69H 61
689< 60Vb
a0,75te 72l6May 18 9816Apr 3
5994 6i>,
pref.
«2M 689s 61
Do
77 94 7994
80S4
97 Deo
7k94
76 Sei
8I1M
7,6rt0
79
sO^ 81
9516Jan 3 132 Nov 27
81
s^
8196 8<
Bleotrlo
12. 9, I24H ia5lt General
125
6696Dec 72i6De«
I27H I2)9< 126
8,076 4 71*Nov 17 7694Mar 20
•129 181
I28VS >a9S lad
Glucose Sugar Refining.
49H
l0716Dec 1099*000
49^ SU
54
6;«3 97 I'Ct 23 110 Jac 14
49^ 5
93
t2% 53H
pref.
Do
102 102
99
99
99
lOo
99
250 97 Jan 3 11716 J'ly 13 18794 J'ne ye^iDec
101
100
lOi
100 100
H. B.ClafllnCo
113
113
ll2«
4,16
aOHDec 8 6816Jan 83 48 Sep 67 Deo
I i3!4 113H
22
20X 20M ntemational Paper
85 Sep 95 Deo
2l« 22
2,100 67 Oct 80 95 Jan 5
ai^ a4s
249< 24 9«
21H
pref
Do
6?>» 67H
68
67
69
69
150 10 May 6 38 Feb 27
69
6 9«
*69H 70
International Silver
12
12
•12
13
•12
5494Dec 67 Dee
13
13
14
lis
39 Oct 80 6316 Feb 83
14
•la
Knickerbocker Ice (Chic.)
45
45
81 Dec 8214Deo
43
70 Nov 14 84 Feb 17
48
pref.
Do
•68
72
77
'•e'A
37HMar 5496Aug
4,951 51 Mar 4 85 Dec 6
87 73
•67
73
Laclede Gas (St. Louis).
85
84
85 Mar 96l4Aug
85
8396 84
82
lOU 9516J'ly 18 102HMay 18
82
82H
pref.
9-M 82^ H2« 82 H •98
Do
100
100
6i4Jan
•99
102
2 Auti
•hH
loa
102
39 Apr 25
1<
5 Jan 25
•100
101
1.
Manhattan Beach Co
•7
12
•7
12
3096Au»i 52l6Deo
•7
la
7 1^
la
2,792 35 Deo 8 62 Jan 21
•7
10
3811 National Biscuit
35
06 Deo
3<?
3wH
9416Auti
41
524 92l4Dec 8 10716 Jan 19
•4i« 4 a
•il
41
87H 39
pref
Do
9214 9294
26l4Mar 3996Aug
9rt
3,030 26%Dec 8 4016Jan 20
196
•96%
»95H 95V< «9«H 94H S929i 9 94
26% 2)^ National Lead
99 Apr 11416 Dee
29
21
'29
a8{^
a»H 28H
30
42 107 Nov 18 115 Jan
so
2MV6 aws
80
pref
Do
9%De«
105>» 107)i, 10514 10794
SHDec
816Jan 12
2O0
2 J'ly 13
106
1059< 108
>05M 108
•10314 10 1. iiC6
Nat. Linseed OU, tr. certf s
9 Feb
394N0V
9 O t 31
41«Mar 17
39i
National Starch
'•5*"
•5
80 Jan
•5
60 Mai
48 Apr 20 70 I'ct 27
5
•6
...
1st pref.
Do
•60
80 Jan
•60
12l60ct
•60
60
13 Mar 17 26 Oct 16
60
3d pref.
Do
ift
•.5
•15
22.61C 3994 Dec 8 83 Apr 24
•15
•15
National Steel
••••
3994 4216
44
41
3,98
85 May 15 9996Augll
45H 42
4"9< 48
48« 48>
459i 479*
pref.
Do
43 Sep
9114 92H
40 Oct
91
9<!96 94
98
94!,
36 Oct 87 42 Jan 25
94
•94
95^
9b
§ 5S.
New C«nt.Coal (new stock)
40
•36
40
Apr 1 80 Sep
14
•35
40
35
35 41
3 230 J'ly 19
1,347 112 Jan
40
*35
40
•3o
N. Y. Air Brake....,
150
148
794 Dee
150
414Jan
»I4I
148
150
144>4 149
6%Jan 6 179*Nov 21
24,800
Co
161H 15i>. 14W 149
614Deo
1494 1514 North American
8M<lan
1596
15
'200
14^ 1594
Mar 23 lOHApr 27
6
1496 15H
15M 169»
Ontario Silver
•8
9
48 Deo
21 Apr
»96
*>
9
896
89 905 37>40ct 14 55 Jan 30
10
9
8»,
(5
8»8
118 Not
4514 Paolflo Mall
4396
86HMai
479*
3
4 5H
4WV.
4-94 4^96
46% 47H 47i4 4v-k 48
eop'l'sGa8-L.4C.(Chlc.) 2a,6t»J 101 May 18 12916 Apr
Hi 1 1 29* '10>s llH 111 16 11194 109 IIO114 Pressed Steel Car
2,155 4494J'ne 1 61 Aug 14
11 3H 1I8>>
'H
56
55
S-^l*
7
91 Sep
5«
5616
5«V<i
1,900 78 May 26
9m^
6814 58%
•68
58
pref.
Do
891*
88
b9s«
2,0;^ti 156
Jan 30 20794 Oct 20 1132 Nov al6 J'ly
89
8996 89)* §-9
8t<94
894:
HMM 89^-4 XM
192H Pullman's Palace Car
«19ai4 194'4 191
83%fep 6
i9'"
11,337 20kO<'C
195
9214 1931a 19aH 198
19 9* 1959.
public Iron & Steel.
2014 2aH
2241 2.SH
23>4 24
79 Aug 29
24
2 9*
3,188 6816Dec
24^ 25!..
24% i
pref.
Do
6816 6914
66 May 8096 Sep
69>4
«9}4
7(1
70
59 Sep 21 65 Apr 28
69)4 6974
7l'H 7 'A
70^ 70i«
iO%Aag
Sliver Bullion Certifs. .
3KJau
616Hep 2( 1514NOV 2
•5b>8 691« •5^1« 5994 69 w 60
•5894 59^.
3,908
5'-94
5 k
•6fc94 6VH
~ tandard Rope 4 Twine.
11
3894 Deo
17 Mai
11
HV4 'IH 10
11
86 Jan 14 126 Sep 11
1114 11%
25,68
lV!k
la% 12% 12
Dee
1 06
11014 r^Penn. Coal Iron 4 RR
8'<
10614
iSO Au»i
•^0 ill
Jan 4 16O Aug
11&i« 116
Ii296ll8>s 112 11S94 Ul>» 113
1396 114
pref
1 Do
45 Mar 28
\925 231tDtC
150
ilSO
4 Paper
Union Bag
2316 24
2416 2514
2114 25
»24'/6 24'^
26
1,065 78 May 31 89 Mar 29
pref
289i aa^ •25
Do
79
79
79
38 Apr 1 58Ml>eo
78
7-;% 77%
708 J46 J'ne 9 80 Jan 12
17 94 79Vi
79
79H 'i'x'r^ 179
United States Bzpress
150
48
5814Sep
48
12 Nov
48H 4716 50
50
46)^ 4891
•*i.% 50K «c<0
_
•5
20 Uuit. States Flour Milling
20
2('
20
781tSep
"2V6 12 Dtc
pref.
Do
8%Ma7
"15
15
15
15
BMApr
41 %Nov
12
594J'ne
18
V26" 20
150,235
Leather
5394Mai 7616 Deo
1<16 1396 United States
18
1296 189*
S^hNov
J'ne
11%
11
1214
18,809 68
pref.
i^H '29* 10^4 12
Do
48HAa8
7716
1 414Mar
57 Apr
7894 7M(^
7814 791*
7 894
79H 7896 79
7994 80
Rubber. .... 11,73'- 40l4nec
60 Mar il8liDee
4014 4496 United States
121 J'ly
4494 4?16
4494 451t
802 1P8 Deo
46V*
4n
47 4 8
pref.
47H 46
Do
108
1..8
K 9 109
4205 Oct
1
110 110H •109
800 181 J'ly
09 111
11094 li09i
Wagner Palace Car....
lil216MV ilSlXDe.
195 IvO 195
13516Sep
19494 19I9« >,90
90 19M
10 1125 Jan
'190
196
185 195
eUs, Fargo 4 Co
131
•127
82>4Mai| 9e%Aug
182
•1^6
98l4Jan
869*Oct
i27 182 •127 13
3"
131
3,151
127 182
Western Union Telegraph
87« X791 87% 877* 8714 877^ 1-714 8796
8«
8T9< -7*1
879<
^»« ''•
Old stock. +
o. in bonds.
.
.Lessthan 100 Shares. * Bx dlv. of 100 p.
";^7;'^";^ ^J:;'""'
• Blu and usked prices no sales on this day.

•96

99

3^

*«B

fc9

598H

83
82

82
8^

32

2-94

29

27

3194

2^94

American Tin Plate

44

—

1«

H

»m

6H

r

m^

%

.

13

7

4m

1

b%

r

1

Re

.

.

. .

• .

—

.

I

'

1

I

^

i

OUTSIDE SECURITIES
Hi.

Uiu

.

Oai.lyUU. Ul.iXb Ky

Ooney

Islaiirt

1st &B 191

lal

II

H

1

1

.lA.I

112

<?30

'u9

3

...

6icenfBiiidbt19C3

B'kC.iNew

J4.'

4 Lcnmer St.

l8t6B.

104
108

11'.

...

Kings Co. Blevat.-— 8toab

944
l8t48 l-4«
6n

1

. ,
.

A At
itJ

K<ilt«><i>».

^BWVVlut) K*l''l»te*-414''

N Y4 gu» Co

58

1

OTHBR

90
77
11216 114
V5
94

106

117

11716

946.A40

CITIES.

Brldgep Tr-lst 58 '23.JAJ }108
Buffalo 8lreel Ry— Stock. 100
1 KAA
1 81 consoi 58 1 93
MAN 1109
Deb 6e 1932
RB— Stock. 281
ChlcaKoCltj
2916
CItiiens' St (Indlanap.) ••
10
Cleveland City By
I

r\i>i"' (^(fv

1

••

coNSKOUTiVB

7

Ask.
107

BiU.

.

89

NassHn BIqo nref

mrtTi

8toinwaylst6sl9a8.J<sJ

H8

58 'Sb J4J ill4

ai.8t.4Ne« l8t58'0eA4i
O'p't

i

* Brookl.Mi.

Aek

(Gtvrn 4T poot op

"^^

'"<'

'*'

110
If

2

11694

111

283
8116

102
106

pAQii8).-81 REET RAILWAYS,

(Street Ratlways.
Clevelaad Kleclrio Ry

Con 58 1913
Columbus (O)StRy

Bid.

—
MAS

94
106
2i
8414

Preferred

CoP 5s 1982.— S«ePhila
Cro»«t'wn— 1st 58.
Kansas City El 68.,
Bonds 48
Lake St (Chlc)Blev-8took
JAJ
deb 58 1928
LonlBv St

2294

86

list.

103
103
87

106

105
90
1616 17
95
94
119
118

Ry— 5pcbond8

75

Common.
Prnf flrred

Ask.
95
107

I

76

1^1

,13

Street ittallwttya.
LynnABOB-lslSs a4.JAl>

die

Bid.

cl n-.,.
8.(Chio).— Sff Si. Ex.

Metrop W.
Mlnueap St Ry-58

New Orleans

City

'1

Ask
113
Ll.U

9.JAJ *l"716 110
80
104

Ry

Preferred
837
North Chicago— Stock.
JAJ ^106
Ist 5» 1906-16
32
North Jersey St Stock.

—

Bonds
No Shore Tr (Bost)-Com

9016
16

238
96

93
16

87
85
Preferred
•rOT A Pawt'ck-lst 6s '38 «11216 1159<|
iril«i -8t
} Rnver phyb Kcorned

Dec-

THE CHRONICLR—BOND

9. 1899.]

BONDS.

Price
Friday,

81

K.Y.STOCK EXCHANGE
Wbkk Ending Dec. 8 4^
Alabama Cent. See Sou Hj.
labama Mid IstiiQg. 1928 M-N
Albany &Sn»q. Se«D&H.
Allegheny VaL See Penn Co.
AmDoci&I. SeeCenofNJ.
Ann An or Igt^r 48
1995 Q-Jt

Dec. 8.

Bid.

Adjustment g48

Registered
Equip trser Ag 58
Chic & St Lou lBt68..19ie
Atl Av Bklyn imp g 5a. 1 934
.

1.

9l>4

8;

86H
82

13
238
20
17

110

Jan.'99

,,,v

110

95

9m

135

98

Sale

98

"9QH
'92^

226

93% 100%
oo" WAi96 102%

104

89Ji

90?g

Of... ••„•-:•

9eH

A-O
FA
CenOhioRlstcg4J^8l930 M-S
Pitts* Con l8tg48...1946 J-J
1990
Honon Riv I8tgug5s.l91b

107

111

See N Y C 4 H.
See Illinois Cent.,
See
K & T,

Beech Creek.
Bel

& Car.

.now,.,i108% 112

J'ne'99

107KJ'ly'98

M

Boonev Bridge.

Bway&7thAv. SeeMetSRy
Bklyn Rap Tr g 58
1945 A-O
110
109^ 110
Bk City l8t con 5s.l916.'41 J-J 115«
116 Nov'99
Bk Q Co 4 S con gu g 58 .'4 M-N
104H 104J^ Nov'99
Bklyn Un Ei Istg 4-581950 F-A
97^ Sale
97^
98
Bklyn & Montauk. See L Isl.
Brung & West 1 st g 48. 1938 J-J
Buff N Y & Erie. See Brie.
BuffR& P gen g 58
1937 M-S »106i<
108 Nov'C9
Debenture 68
1947 J-J
Roch & Pitts Istg 6s. .1921 F-A
129" J'n'e'99

19 ,.„
,?f.

,,^

.

HS

104% lio^
108%
30 96
104%
}x.\i

.

. .

Consol 1st 6
1922 J-D
Cl&Mah I8tgug5s...l943 J -J
Buff & Southwest. See Erie.
Buff&Susq lstgold5s..l913 A-O
Registered
1913 A-O

BnrCR&NlstSs

125

127

12(iii

Conlst&coltrgos
Registered

CRIF&NW Istg 58.1921 A-O

107J4

'

1913^M-S

Sec

106

1

1081-g

107

Jan

St

85

91

34

9M

92^
0ct.'99
3S9i

OH

«
Nov'9»
95 Dec '98
96 J'ly'98
102 J'ne'^9
110 Sep.'99
112i^Mar'99
120
l.il
118
119
99
«9
108 Oct.'99

1946 J-J '98
1946 J-J '100
1947 J-J
90

Mobile Div Istg 5s
Mid Ga & Atl Div 5s.
96
Centof NJ-lst conv 78.1902 M-N 107?i
Convertible deb 6s
1908 M-N
General gold Ss
1987 -J
121
Registered
1987 Q-Jt 117
119
Leh &
B C con as 7s.l900 Q-M; 98
9;«
58
1912 M-N' '100^
Le&Hud Rgen gug5s.'2 J-J
Am Dock & Imp Co 58.1921 J-J lis
115>i Nov'99
Cent Paciflc iief S Paci'o
.

'

I

W

Istg

7s..

.1936

'

U?H

;*«•;•• ;•„•;•

85

93^

93

96
116^ 122
37
"38
3

10
7
1

f.n

Dak&GtSogSs

1916 J -J
1 989 J - JS
Registered
1989 Q-JS
Gen gold 3%s series B. 1989 J-J5
Registered
1989 J-J5
MU&No IstM L6S...1910 J-D
Ist consol 68
1913 J-D
Chic&Northw— Con 78.1915 Q-F
Gold 7s
1902 J-D
Registered
1902 J-D
SInkiug fund 68.1879-1929 A-O
Registered.... 1879-1 929 A-O
Sinking fund Ss.. 1879-1929 A-O
Registered.... 1879-1 929 A-O
Sinking fund deb 58... 1933 M-N
Registered
1933 M-N
25-year debenture OS. .1909 M-N
Registered
1909 M-N
80-year debenture 5s.. 1921 A-O
Reglsered
1921 A-O
Extension 48
1886-1926 F -A
Registered.... 1886-1 926 F-A
Gen Gold 3%s
1987 M-N
Registered
1987 Q-N

114

1905
IstSs.. 1923
1923

,,0.

116%

1

.

109

Bid.

14%
107% 109%

Con

5s 1930
AAO
id 58 1933.
JAD
Side Kl (Chic)— Stock
o
iyracuseRap.Tr., 5s, 1946
Jnlon Trac (Chio) Com.

Preferred
Jnited

Rys

(St

L)—Com!

84
98
5

98% 94%
SO

In'd Tr4Hie<5(Prov)-8t'k
f ert

Chicago oL

Oon 193H

M4N

3

%

79% 80%
24

Preferred
4s

89
100

94
118

117

89
93

95%
112%
117%

108% 107

Oct.'99
J'ly'99

126

Nov'99

142%146K

21

118

183

107%111«

iif

117

Nov'99
117% Feb '98
I'O Nov'99
109%
106% Feb '99
103

110%

105% 109

118% li*.%
119%Dec'98
107% Nov99
109% Mar'98

J

180
118

115
116
106

Sep.'99
J'ne'99

i08% 108%

181
120

108% 115
112% 114

10

108%

iis"

106 110%
106% 106%
102% 110^2

Nov'98

107% May'98
Nov'99

103
124

103
124

103
124

J'ne'99

117% Feb '99
108

117% 117%

110
114

136% 139

136% 137
105% Feb '97

110
113
136

Nov'99
Aug'99

120

121

121

140% 142
140%

140

Nov'99

140%

117% 180

106

133

Nov'99
130 Nov'99
132% Aug'99
106
109%
106% Nov'99

Sale

96
83

J -J

8ep.'99

83

98% May'99

A-O
A-O nCS

115
105

112

J -D

112

133

133

138%

132

*I-N

132%

140
128

140
128

128

106
100

140
134

93% 102%

96%

1G8

Oct.'99

117%

185

Kl

127% 138

Mar'99

94%

Sale

140
148

114%
136%
134%
128 104% 110%
105% 107%
96
98%
83
87%
98% 933
109 114%

112

181%

111
114
143

140
140
112
130
132

140%

106

117% 123

117%

100

Oct.'99
J'ne'99

100

Aug'99

99%
120

120

180

118

115%

99% 99%

103% Oct.'e7

106% 106%

Wo"
113

Regiitered

OIndAW

125% 151%
147 102% 104%

lit pf 5i... 1938
Bait lit oon 41.1940

103% 107
101% 105
100
105

120 124
114 116%
;•„•;; u-.;
134 189%

1

108

118%

rORK.

Cent Union Oa«— Ist 5b ao4
Con Gas (NT)— Stock— Y Stk
Deb 5s 1908
M4N 106
Bqnlt Gas
116
Ist 6s 1899
PAA noi
Con. 5s 1933
M48 ni2%
Mutual Gas
300

Ask.!

Amsterdam Gas, Com!

;

106

Bzoh
110
118

102%
113

86

P6

88«i

25% 29% 29%
136
138%

••••«•

88% 88%

11

29%

10

33

17

135% 138%

J'ly'99

.31" 137%

io8% '108%
105% 108%

134%J'ne'09

128

184%

20

68

17
73%
35% 121

70

09
76
00

Col
"1

A

4 Greenv.

H

Val.

See

Conn 4 Term.

i«»*«* •••••!
i««*a» •••••!

- J

65

-

73%
84%

J

F-A

See

84

N4W

1944
J4J
Consol 5i 1945
J4J
Nor Un lit 5s 1987. .M4N
Standard Gas— Common.

113

1st 58

preferred

...MAN

BROOKLYN.

wUe..

bDueAug. cDueAprO.

pages).— Q'^iS' SECURITIEb,
Ask.

lit 5s 1930

65

Hock VaL

Gas Securities.
Bid
N Y Klec Lt Ht 4 Pow 4s. 9C%
(Jold 58
102%
M Y 4 East River Gas—

Do

65

Bale
Sale
Sale

See 80 Ry.

7 coifSECUTivB

107

118% 118%
103% 103%

108% Feb''99
108% Nov'99

Jol4 9thAv. S««Met8tRy.

107

31% 33

118% J'ne'99
103% Apr'99

104M

'132" Nov'99

'^•^ * P*"*- 1^ P«>"» Ca
Ool Mldl'd— litg8-3-4i 1947 J
litg 4i
1947 .1
Col 4 Sou Istg 48
1929

109% 117%

Bid.

83
07

134

31»T4Malion Valg5«..1938 J -J
Regiitered
1838 Qa-J

• •

113

•••••<

1

111% 111%

Nov'99

Pref
lit consol 5i

83
95
102

0ABlitMCC04I7i.l9Cl A-O
Lor 4 Wh con lit 5b 1933 A-O 108% 110
il«T 4 Marietta. S««PaBEU

105
105

10 1059^113%

107

«

V6

P«o &
Inoomeli.
1990 .4pr
Congol 7i
1914 J-D
CC C& Iconsolif 7i.l914 J-D
-»*n consol gold 6».. 1934 J -J
Regiitered
,,19d4 J -J

,V=;; V,o;
115%118%

99

1936 Q-Fi)

CIStL&Ccons6i..l920 M-N
01n8 4Cloonl8tg5i.l928 J-J
IndBliWlit pf7i..l900 J -J

l^^,A9^
109%113

21

Securltleg.

NKW

99

104% Ang'99

CnnI8tL4Clitg4f.l936 Q-F6 *103

;V^:'
1175K

(Giyen at foot of

GaB

87% 08
95% 97
99% 103%

29

• •

Worcester iMassjTr-Com
Preferred

N.

112% 11
108% 114

109
105% Mar'99

107%

183

118%
137% 1378

I

115

Ask.

119
115

Oct.'99

120
116

•No Price Friday: Utert bid and «ked thl. week. tBond.aue
Jul,. *DueNov. IDueJune. IDueJan. IDueMay. a Option
Wtireet Kallway.
ioohuster R y

20% 123

100
120

18OV

138V

118% 124%
118% 185S
110
118%
122% 188%

108%
112% Aug'99

107

J-J
A-O 128
Chic Ter Transfer g 4s.. 1947 J- J
95%
Cb & Westllstsf g6s..l919 M-N
Generalgold68
1932 Q-D •117
Chic &West Mich Ry 58.1921 J-D
Coupons off.
1921
CinH&Dconst 78
1905 A-O
2dgold4%3
1937 J-J
ClnD&IlstgugSs... 1941 M-N 113%

lolum

OUTSIDE SECURITIES

118

118% 1 23V

1085i

'lOS^

174V

129

111^ 111%
105% Feb '98
121
125
148

178).

112% 129^

106%May'97

118%

•'78).

160
161

113% Nov'99
;,oHJi2^ CIStL&C.
SeeCCC&StL.
34 }}«^Jo?
U7)<
ll«Ji
CinS&C. Se<CCC&StL.
H2,.J?1. City
117 J'ne'99
116%118i«
&SRy
95«
9m 129 90% 97^ Clearfield & Bait Istg 5s 922 J-D
Mah. Se«BR&P.
97% Aug'99
927^ 97% ClAk&Ceq&2dg68.. 1930 F-A
103^ Dec '99
CCC&StL— Geng48 1993 J-D
93%
93% 93%
]^i^l^^
100 Dec'«9
100
100
Cairo Div Ist gold 48.1939 J -J
97 J'ne'99
95^ May'98
BtLDivlstcoltrg48 1990 M-N •••• •••••• 101% 101%
;•«•;••;•«,•.••
101)i.4.pr'99
Registered
1990 M-N
99 May'99
•••
lOU^ 100^
10 Jni... J2i^
100% 104
Spr & Col Div Istg 48.1940 M-S
97
109 J'ne'99
WWValDivl8tg4s.l940 J-J 82
83 Nov'99
}^LA\^f^
103H Oct.'99
01nW4MDlvlitg4i.l991 J-J
97
95 Nov'99
}2^?^J2IJ^
106% Feb

..

Chicago & Erie. See Erie.
Chic Ind & Louisville —
LouisvN A&Ch l8t68..'10J- Jl'lis

I

160%

Aug'99

116

1.

High

161% 17S

137%J'ly'99

83

i,4,.,-,«.

1

J -

118

110

. .

9f«
34
Keok&DesM
44%
«% 15
Small
4% 7% Chio&StL SeeAtchT&SFe
Chic St L & N O. See 111 Cent.
Chic St L & Pitts. See Pa Co.
102 102
Chic StPM&Ocon 68.. 1930
109% li2
ChStP&Mlnl8t68..]918
112% 112%
Nor Wisconsin 1st 6s.. 1 930
113% 122%
StP&SCitylstg6s.. 1919

,,..

119

48 series A.

Extension 48

97J<

112% 121%
98 102%

since

Jan.

122% J'ne'99
119% liejK
118%May'99

DesM&FtDl8t48...1905 J -J

,„„

U7H, 102

115«

119

J-J 103}^
J-J 100 104J4
...,
J-J
MS
M-S 100
M-N
F-A
2d78
1900 M-N
'99
Miss RivB 1st sfg 68.. 1912 A-O
Chic Bur &Q— Con 7s... 1903 J-J UiM
114 Ji Nov'99
Sinking fund Ss
1901 A-O 100
100>» Nov'99
Debenture 5s
1913 YI-N 110 Sale 110
llOii
Convertible Ss
1903 M-S
132?gNov'93
iiiois Div g 3>t8
1949 J-J 102% Sale lu8% 103^
Begisti-red
1949 J-..
Iowa Div sink fdSs ...1919 A-O 112" !;;;. ii'sfg
Sep."'99
4b
1919 A-O 104
105 Oct.'99
Denv Div 43
1922 F-A
102 Nov'99
Southwestern Div 48.. 1921 M-S
100 Apr'99
Chic & Iowa DivSs
1905 F-A
105 Aug'OO
Nebraska Exten 48
1927 M-N
llOH llOH llOH
Registered
1927 M-N
Hau A St Jos con 68.. .1911 M-S 120 122 111% J'ne'99
120 Nov'99
Chlc&EIU. Ist 8f cur 88.1907 J-D
114Ji Oct.'99
Small
1907 J-D
lstcong6s
1934 A-O 136
138" Nov'99
GencoulstSs
1937 M-N 113^ Sale 113K
118J<
Registered
1937 M-N
113H 103^ Nov'98
Chic & Ind C Ry 1st 5s 1936 J-J 107
....7. 107
Nov'99
Istcong48l989

3d cone 48
1989
Craig Valley Ist g 58. .1940
Warm Spr Val Ist g Ss 1 94 i
Baiz Lex i B S gu g 5s. 1 902
Chic & Alton sink fd «8..190,H
IjOu & Mo Riv Ist 7s .1900

li

JJ2,

16 }SSw}??w
13 J9Z''* }^\^
106^112

18

J-J 114
J-J
J-J

1914

Far&Soua8sug68....1924
Cont sink fund Ss
1916

F-A
A-O
WiDona&StPet2d7sl907 M-N
Mil& Mad Istes
1905 M-S
OttCF&StPlst5s..l909 M-S
NorthUlinoi8l8t58...1910 M-S
MilLS&Wl8tg6s... 1921 M-N
Convertible deb 58.. 1907 F-A
Ext&Impsfg58...1929 F-A
Mich Div Istgold 6s 1924 J-J
Ashland DivlstgSs 1925 M-S
Incomes
1911 M-N
Chic RockI&Pac6«... .19X7 J-J
Registered
1917 J-J
Generalgold48
1988 J -J
Registered
1988 J-J

J-J

Ches & Ohio— G 68 ser A.1908 A-Ot 115^ .....
Gold 68
1911 A-01 lib
1st con g 5s
1939 M-N ll8HSale
Re istered
1939 M-N
Sen gold 4 J^s
1992 M-S
95 Ji Sale
Registered
1992 M-S

R&ADiv

Terminal gold Ss

E8Can&LSupl8t6s..l901
l>esMo&Minnlst78.1907
Iowa Midland 1st 88... 1900

'97

88H

97«

4>t

M&NDiv IstgSs

&Sav

inn
100
,,«

i\h, UJ.^
110% 110%

93 Nov'99
118JiOct.'99

.

Charles

111

BCR4N.

g 48. 1 948 J-D
85
Central Ohio. See Bait &0.
CenRR & B of Ga— Col g 58*37 .H-N 90
Cent of Ga Ry— 1st g Ss. 1945 F-At •118?^ 120
Registered
1945 F-At
Consol gold 58
1 945 M-N
91
Sale
Registered
1945 M-N
l8t pref income g Ss . 1 945 Oct.t
84
Bale
2dpref Income g Ss... 1945 Oct.*
914 Sale
3d pref lncomeg58...1945 Oct.t
6

Cen Branch U P

Jan.'99

107^
106^

Carb & Shawn. See 111 Cen.
Car ("ent. See Seab & Roan.
Carthage A Ad. SeeNYC&H.

CRIaF&N.

116

105

South 1st Ss... 1908 J-J '107H 108
2d58

Canada

1913M-S

Nov'99

110«Feb'99

M&8tLl8tgug78....1927 J-D

Registered

inn
100
,«a
l?r

Nov'99

108
116

,,,

127%
126% 180%

Apr '97

100

1906 J-D 105
1934 A-O 116
1934 A-O

107

Nov'9P

103

,r,^

,«r„. ,w„
129

112

119%
119%

Wi8&MlnnDivg58..1921 J-

Gen gold

WVa&Pl8tg58

Bangs

Ask. Low. High No. Low.
100 Nov'99
98
116
109 Nov'99
104

J-J

Mineral Point Div 58..1910

Sale

909^ Sale

Last Sale.

Bid.
100
112

Chic&LSu DivgS8..1921 J-

no,.,^^

95

BouthwDivlstg 31^9.1925 J -J
Registered
1925 J -J

Dec. 8.

Refunding g 6s
1947
Chic Milwaukee & St Paul—

96}il02J^
78
88Hi
83
839i
,»o
108

Week
Range or

J-J
J-J
M&StP— lst78$gRD.'02 J-J 171Jtf
17l« 171%
l8t78£goldRD....1902 J-J 171%
l8tC&M7s
1903 J-J 171%
172% Sep.'99
Chic Mil & St Peon 78.1905 J-J 171H 173% 171% Nov'99
let I & D Exten 7s
1908 J-J 171%
178 Nov'99
1st Southwest Div 68.. 1909 J-J •171%
120%Sep.'99
l8tLaCrosse& D 5s. .1919 J-J 118%
118 Nov'99
Ist So Minn Div 6s
1910 J-J 120%
120% 120%
Ist Hast &D Div 78... 1910 J-J •l:i8
131
129%NoVt<9
•111
58
1910J-J
113
109% Dec '98
•120
Chic & Pac Div 6s
1910 J-J
123
120% Oct.'99
Chic &PW Istg 5s... 1921 J-J •
121M 120% 121
Chic & Mo Riv Div Ss. 1926 J-J
182 Nov'99

102!^

S7H 96«
97% 103^

Feb '99

83

M-S
J-J

62%

98

1183

1.

Price
Friday,

N.Y.

ChI&L(Con)refg58...1947
J'ne'99

ai^SaVe"

Atlan & Uanv See South Ry
Atlan & Tad. See South Ry
Atlanta & Char. See Sou Ky.
Austin &NW. Se«. SoPac.
Bat Creek & S. See Mich Cen
alt & O prior 1 g 3>^s.l025
Reilstered
1925
Gold 48
1948 A-Ot
Registered
1948 A-Ot

Jan.

Page

(5 pages)

BONDS.
STOCK EXCHANGE
Week Enddto Dec. 8.

since

Ask. Low. High. No. Low. High

91
92^
dSHi Sale

1995 A-O
1995 NoFt
1995 Novt
1902 J-J

Registered

Range

Last Sale.

101

AtchT&SFegeng48..1995 A-O

*

Week's

Range or

PRICES

110

Gas

24% 86% Brooklyn Dn Ga»—N Y 8t ook K
45
48
iBt oon 5»— N Y Stock Rxch
94
95% WilllamsbarB Gas— 1st fls 5100

Bid.

92
104

OTHER

9H
106

CITIES.

Baltimore Consoildat

106% 108% Ba T
94
100
185
lie

.securlllriM

dec.

State

Gas—

—St

eBalt Ll»«

IK

Boston UnltedGai Bonds- -Bosvu nlilK
Buflalo City Gas— Stock.
7
9
l8t 5s Bonds
77
70
I

Gas— S«« N Y

lis'

:*icago

ZOll

noero Gaa Co lit Ss
tnolnnatl Gas 4 Coke.

JAcd

Interest

Bto ck Hj. oa.
103
.

+PW(<e

192% 108
"TS«

THE CHRON1CLE.~BOND

1184

Price
Friday,

Conn * yoM Rlvi

1st g 4i.'43

DakAOtSo. SMCM&StP.
alias

& Waco. S««M K&T.

Dal liaok A Western 7s..l907
Byr Bing & N Y 1st 7s.l906
Morris* Bssex 1st 7s. 1914
1900
7i
1871-1901
7b
1915
Istoongaar 7s
1915
Registered
lstes..l921
If T Laok &
1923
Oonstrnotion 5b
1923
Term & impt 4s
1900
Warren 2d 7b

W

Delaware^ Hudson—
lBtPaDlT7B

1917

A-O

Week's

Range

Range or

since

Dec. 8.

BONDS.
N. Y. STOCK EXCHANGE
Week Ending Dec. 8.

Last Sale.

Bid.

M-8
A-O
M-N 138
J-J •101
A-O 106
J-D •136«
J-D
J-J *l"37"

126^ J'ne'99

Ist g 6b... 1917

Dat&Maok

Aug'99
107

105^

,

141
140
138
122

M-S

147M 148

4tliextgold 5s

etbextgold 4b

iBt oonsol gold 7b. ,..,1920
Istoonsolgold fd 7b.. 1930
Iiong Dock oon gold 6b. 1935
Buff N Y & Brie Ist 7b. 1 9 1
gold 6b.... 1908
Baff& 8
1908
Small
Jeff RR 1st ga gold 5B.1909
Oblo&Brle Istg 5b. ..1982
Coal & RR l8t gn 68.1922

W

Dock & Imp lBtOur68.191S
N Y & Green Lgug 5b. 1946
1946

email

11

148
148

146

Jan.'99

98H

Sep.'99

4

99!4

26

Nov'99
104

M-N
J-D
J-D
A-O
A-O

106

M-N

Nov'99
Nov'9m

68
106

Sale

112

77
108

112

107

92M Feb.'99
112

110^116

109!^ Oct.'99

128

1933
1931
5b.,,. 1948
1923
MtTemonl8t6s

F-A
J-J
A-O
A-O
A-O

133'

.aaaa
aaa^

143
142
140

106

110^ 1169i
116H 121
106H 106H
189H 1459(

Dec '98
8ep.'99

Feb '99
10

114)< 115

106
Nov'99

109

Oot.'98

91H
May'98

7]^

"55

98
70

98%

100

113H

95

103M

UIHUIH

98M 108M
138

130

J'ly'99

121^ 127
100>4 107H

117«

101

Sale

108

101
106
101

08
10

118H
101

Nov'99
Mar'99

10894

110
101

100
101

103

100

74

Sale

61
•101

102

105
74
eOJ^

105
106

76^

17

U

61

Ang'99

101

74
60

87H
669i

09H 106M

Dec '98

J-JT

Ist oon g 4^s.l999
1999
Registered
V 1st ext g 4a. 1948
Col 4
T lat g 58.1933
Honst B 4
Hoas 4 Tex Cen. Se« So P Co.

H

W

Illinois Centralist no d 48

1951
1951

1951
ItegiBtered
lat gold 3s sterling. ...1951
Registered

OoUTrtiBtgold 4b
ReglBtered

L M O 4 Tex gold

48

ReglBtered
* No price Friday

1951
1952
1952
1953
1953

106

85

J4J il05

Oonsolld Gaj8(NJ)— Stok
lat 5b 19!)«
J4J

Oonsol Gaa (Pitts)
Pref

ibsid ib79|[

lOS

101
107
10494 10494
1011^ 107

3194

87
107

28)4

53
118

City)— Stk

lat 6s

M4N

N Y Bxo

aa«z4 Hudson Gas

97H

106 Nov'99
102}^Apr.'9H

87H 89H
30« 81

Bonds Ss
Dttrolt Oft*— See

107)4
104J<

1079<

J-J
J-J 104H
M-8
M-8
A-O
A-O
M-N
M-N

101

115H

104
106

ib«j<

h.llst.

40

46

Gaa

103

M8r'98

7

Hecurlties.

Bid.

Ask.

Wayne (Ind)— 8to A

41

43
66

J4J

63
107
F4A 104 105
1st 6s 1915
Hartford (Ct) Gas L... 25 t 43
47
43
Indiana Nat4 lU Gaa— Stk
M4N «4 67
Ist 6s 1908
108
Indianapolis Gaa Stock. 108
M4N 103 105
1st 6s 1930
Laclede Gas— N Y Stock Bxnh.
46
42
Lafayette (Ind) Gas— Stk
Ist 6b 1984
M4N 64 66
1st 6b

1925

Grand Rapids— Stock

—

104

104

J'ly'99

102H 100

107
iSO

107%

104^ 108
119
ISOM

120
93 Dec'99
6394 Nov'99

112

Sale

•120

91
60

97)t

66
117

107

I129i

73M 177

70

...

121>i

•113«114«

S8M

'i'S

116H iai«
108M 116

121Jii

115

Nov'9S>

103

Nov'»9

104

Aag'98

110

Nov'99
Nov'99

los^iiau
107U IO9S

4^ Aug'99

IS
109>6 110
96 \089i

•103

...

110
•108

111

112>i

114«

1

112

113>s 100HOct.'9P
10394 Nov'99

10894

91«

106

100

1

98

Feb

U4H

'99

91M 98
>•••••

tAttM

0094

lOlM

94

10lHSep.'99

NoT'99

33

88

131
101
94

184^ J'ly'99

120

184M

•

86

1st oon g 4s
1981
General gold 4b
1938
Ferry iBt gold4)<B.,..1932
Gold 4b
1982
Debenture gold 5b.. .1984
DLlfledg 48
1949
NY4RBlBt^6
1927

98
I

95"

ggn 5b. .'32

La4MoRlT. See0hl4Alt.
L B 4 St L Con on g 6b Tr oerts
(^neral gold 4b. , ..1943
L:>ti8vUle 4 Nashville
1907
Ceoe) Br 7b
Istg 6r ....1930
N
8d gold 6b
1930
B 4 NaBh iBtg 6a... 1910
General gold Os
1980
Penaaoola dlv gold 68.1030
BtLdlv l8tg 6b.
1031
1980
2dg3B
1900
Nash 4 Deo Ist 7b
Blnkfd(84A)g 68,...1910
, ,

. .

4M

M

Registered
Col tr 5-20 g 48 ,,..1903-18
Pens 4 Atl Istgug 68.1921
1931
Coll trust g 5s

See

O

I

4

65
106

Sale

98

ioi**

101
101

"Bi'ii'Wii
100
100
107
107

7^

181«
114
117

109

14

135
66
103

•103

78

18>^

117
118
116
107

114
131

10

NOT'97
131
J'ly'99
Oct.'99

"6

117

109H Nov'99

137

50
6
18094

Nov'99

181

•UT

M
M
M
J-

94"
101

Jan.'99
Jan.'99

7K
106
131
•115
111

J

I

tOOH Apr'99

M-8
J
JJ-

10

94
98
Nov'99

87H Nov'99

100
107

64

IM

109)<

Dec'98

Deo '99

61
103

Oct.'99

679i

108

A105
107

F1937
1940 J1940 J -

Gold 5s
nnlfledg4B

94
98
101

115
105
95

1911

1st 5b

07
100
101

87
95

NYB4MBoong5s..l93S
Bklyn4Mon lat g 6b. 1911

M

•

F-

109^ Oct.'99
105H Dec'f9
lOOM 9994 lOOM

37

9m

10

96H 97«

98
112
105

108«
108

•

106^ UOV

112

112

Sale

2

J'ly '99

96><

10794 Nov'99

97U

HI

100)|

101

114M
110

107M 1089<
I0e>< 110)i

01

90

03

103 Jan.'98
96>4 Oct'99

98

94^

108

10B« Nov'99
97« 97H Nov'99

109

M

106)^ 109^

,..,

9994

A-

98^

05
116

11294
12196

L.

JjahonCoal. SeeLS4M8.
•J anhattan Ry con 4s. 1990
MetropolBl l8tg6B...1908
189U
Sd6B
Oolonlz g 5b ... 1 934
If an 8
Market StCRy Istg 68.1913

W

J-J

109

A-

Sale
1179^ Sale

105

1

10

102H

MJJ

Mar'98

105

105

J-

11796
Bep.'99

1209«S

120H^

120M

ViOH

118K134
180)4 135M

134

124

18394 13'7

184)^

125'

11796

100% 102%

-

H0K'pt4BV. SeePMoK4Y
El. See Man Ry.
Mat 8t Ry gen tr g 5b.. 1997 FBway47thAvlBtog 58.1943 J1943 JReglBtered
0ol49thAylBtgug6B.1993 M-

(Givek at foot of

Fort

104

'90

tf atropolitan

104M Jan.'99
lOlH Nov'99
104

m'

Sep.'99
iMov'98

93
64

70

194b

,

124

M

,

185"

M-

RairlBtered

MetWSBI.

12094 Sale

•120

1993 M-

Registered

LaxAT4PFlBtgng5B.'93

Sale

Sre'Unhstfd."

these are latest bid and asked thla week. tBonda dne Anguat. t Due April.

Preferred

(J

105^

l07Ji J'ly'99
103 Oct.'99
J'ly'99
112i< Nov'98

H

Oonanm Gas

lOOM 108H

113H

Bia. Ask.
Ctaa Mecu rl icm.
Olty
4 L (F' storla) 5s. \ 98 100
Col Gas L 4 Heat— Com..
60X 64

1932

46

118«
113«

OUTSIDE SECURITIES

lat 6b

iom

104 )i

•J
•J

1951

Registered
iBtgoldSJ^s

103
99

101

104^ loe;^
121"

108

5b.. 1997

Louis Ry Co Istoon g58.1930
Sala

125
100

Cent.

ReglBtered

L N A 4 C.
101

128941

Feb

112J4115

Kentucky Cent g 48 ... 1 987 J LOin4Lexg 4^8. ,,.1931 ML 4 Jeff Bge Co gug 48.1945

J-J
J-J
A-O
M-K

130
135
100

126
Apr'99

131

90
60

ML4N4M4Mlgtg 4^8.1945 MNFla4SlBtgng5s ..1937 F-

100" 103

May'99

lilH

104
90

•120

1941
1945

.

B4N Aoongug5B....19S6

Mar'98

SW

Hock Yal

NY

Ss.

H

117M 1S<
lOOM 107

G

Se.0B4Q
HaD4 8tJ. See NYNH4H.
ousatonio.

See

Nor 8hb Istoon

NOT'97
104

133

107

. ,

Dec '99

119

W

A-O
J-J

66
12;
104

77

107

105

105^

04

126J< Nov'99

.k,...

Long Dock. See Brie.
Long iBl'd— Ist con g 6B.1031

95

93H

PtHuronDivlBtg 58.1939 A-O
ria Cen A Pen iBt g 5s. .1918 J-J
iBt land gr ext gold Ss. 1930 J -J
1943 J -J
ConBOl gold 5s
Ft 8 4 V B Bge. Su 8tL4SF.
D Co Istg 4)^81941 J -J
Fort St U
Ft
4 D C— lat g 4-68. 1921 J-D

Ist pf g 58.1945
1945
Ist oonsol g 58
Ga Car 4 No Ist gn g d8.1929
Georgia Paciflo. Se* 8o Ry.
4 Nor. Se* 8o Pac Co.
Gila V
Grand Rap 4 Ind. See Pa Co.
Gray's Ft Term Set- St L

M 8.

9394 105)i
8*1"
'98J<

,

90

J'ly'99

111

Bull Co Br'oh Istg 6S..1930
6b,. 1926 J -J
Fargo &8o. S««CliM&8tP..
Flint & Fere M g 6s. ,,.1920 A-O
Ist oonsol gold 5s.... 1939 M-N

Ga 4 Ala Ry

4

UAii

May'9g

98
98

LehVTerRy lBtgng5Bl94i
Registered
1941
L y Coal Co lat ga g6B.,193S
Registered
1988
i39>i iVlH Leh 4 N Y Ist gn g 4b. ..1945
Registered
1945
140 140
Bl C 4 N Ist g Ist pf6B.1914
Gold guar 5b
1914
Leh 4 Hud R. See Cen of N J
106 106
Leh 4 WUkesb. See Cent NJ.
111«116X Leroy 4 Caney Tai. See Mo
P.
Lex Av 4 P F. See Met St Ry.
L R4Mlstg58 1987TrotfB

14

Nov'99
Aug'iS
Nov'9w

187
104

rAIndlttoongng

FtW4 RloGrlstg3-4s.l928 J-J
8 A. See 8 P Co.
Gal Har &ot '82 lat 6S.1913 A-O
al H4H

8

High

lOl^lOSM

106>4 Aug'99

Registered 5s
1997
114K183k
nSH 131 LehYN Y lBtgng4)^B.,1940

Nov'99
115« Nov'«9
Nov'99
Nov'WW
106H Apr'99
142>4 Nov'99
114;.li

UIH J'ly'99

6s.

L

Nov'99

118

W

2d gold 5b
North Ohio Ist gu

104M111

H

1.

See Erie.

Leh Val (Pa) ooUg
115

M-S
M-6
A-O
J-D
M>139H
M-S
A-O ••••at
J-D ••aaaa
J-J
J-J
A-Oi 105
M-N
M-N •117'
J -J
117
M-N 105«
M-N

W—

on
t*TH Ist gold6b
lat general

77
112

16

125
100

*l8t guarig 58
1935
Ind III& la Ist ref gSs.. 1948
Int4Qt No Ist gold 6b. 1919
2d gold 5b
1909
3d gold 4b
1921
Iowa Central Istgold 68.1988
Iowa Midland. 8e« Ch 4 N

RR.

"88^

125

KalA4GR. Se«L84M8
an 4 Mich. See Tol 4 O C.
K C 4 MR4B lBtgng6B.192C
KCP4GlBt4colg 6B.192
Kan C 4 Pao. See M E 4 T
Kansas Mid. See 8t L 4 8 t
Kentucky Cent. See L 4 N.
Keok 4 Des M. See C R I 4 P.
KnoxTllle 4 Ohio. See So Ry.
Lake:Erle4W lBtg6B.1987

107^ 108

78
109

76

Apr'99

91
g 4b pr bds.1996 J -J
91
1996 J -J
Registered
93^
996 J -J 'Vi" Sale
1 Bt aon genllen g 4b. ... 1
71
1996 J-J
BegiBtered
Ist ref 6B.1987 J -J 110
» Y 8&
111
1987 F-A
Sd gold 4Mb
92H
1940 F-A
93
General g 5b
94H 95
Ist g 5b.. ..1948 M-N •110
Terminal
Regis •5,000 each. 1943 M-N
WlU&BaBlstgng 681942 J-D 105 Sale 104«
Mid RRof NJ Istg 681910 A-C •iieHUSM 122

Eureka Springs 1st g

98H

107« 112%
103M 1099i

roiii

"sbH

183

.

100
104

108

rie iBtoon

aoan&LBnp. SmO&NW.

UOH

ibiHi

lOlH Oct.'99

19S£

since

104

110}-^

3

10 1

L Sou lstgug4B...193l
8 Istg 4s

UOH

Ssiisale

, .

St

Carb4

Jan.

Ask. Lotc. High, No. Low.

101

IndB14W. Se«CCC4 8tL.
Ind Deo 4 W Ist g 5b. ..1935

98

90

lOlM

104

132
11794

114«117>t
160M 154

May'98

108

ISO^ii

182
116

Nov'96

116« J'ne'99

lOlH

148

120H

J'ne'99

92

142>t
122

108^ 108M

\20H Apr '99

164
141

146H

188
117

Nov'99
May'97

123
116

106^111
141

Jefferson

Blm Cort & No. /SeeLeb&NY.
1947 M-N
rielBtextg4B
1919
1923
1920
1928

105«
00l.'9S
J'ly'99
Sep.'99
J'ne'99
Aug' 98

108^

W

Sdextgold 5s.
Sdextgold 4Ub

dep.&o

Range

Last Sale.

llOMSale

Registered
1951
LoaisvlUe Dlv g 8M(b .195&
Registered
1958
8t Louis Dlv g 38
1951
Registered
1951
Gold 3^8
1051
Registered
1951
Cairo Bridge gold 4b..195(
ReglBtered
1950
Middle Dlv reg 5b
1921
Spring Dlv l8tg3J<8. 1951
Registered
1951
ChloStL4N Og 6b.. 1951
Registered
1951
Gold 8>i8
1951
Registered
1951
Mem DlTl8tg4B.,,.1951
Registered
1951
BeUev 4 Car Ist 6b. .192S

187^ 144

Week's
Range or ^1"

Dec. 8.

Bid.

I24\i 1349^

NOT'99

108

F-A
M-N
A-O

lBtlieng4s.l995
1995
Gold 4
DbI* Iron Range lst5B.1937
1937
Baglstered
Vd lien mortgage 6s... 1916 J -J
4 8 1st g 5s. 1928 J -J
Pnl Red
DnlSoShoreA Atg 58.1937 J -J
East of Minn. S««8tPM&M.

astTVa&Ga. Sw.SoKy.
Hlgtn Jol& K Istg 5g... 1941
niB Lex & B 8. SeeCSiO.

1.

[Vol. LXIX.

2.

Price
Friday,

BONDS.
STOCK EXCHANGE
Week Ending Dec. 8

N. Y.

136H 126^

ISSH Nov'99

,

es M

BatM&Tol. Se«L8&MSo.

Page

nillnois Central (Con)
Western Line iBt g 48.1051

.

BasMUnRy

(5 pages)

High

Ask. Low. High. No. Low.

1917 M-8 aaaata •••tt
Registered
131
Alb & 8 IS Istoon gn78l906 A-O
1906 A-O
Registered
116
1906 A-O
Gold 6b
1906 A-O
Registered
1921 M-N iso"
Bens & Sar lBt7B
1921 M-N
Registered
DalRlT RR Bge. See Pa RR.
5s..l933 A-O
Dan Con Tr Co Istg
Den Tram Co con g ds. 1 9 1 J -J
Met Ry Co 1st gu g 68.1911 J -J
DBn A RGr Ist gold 7s. 1900 M-N •101^
1936 J J • 98H 98?<
iBtoong 4b
1936 J -J
Ist con g 4^8
Improvement gold 5s. 1928 J-D 104 Sale
& Ft D. Se« C R & I P.

•esM&Mlnn. Se«Ch&NW.

Jan.

PEICES

I

Due January. IDneOatobar. IDueJuly. a Optional.

oonsboutivb pages).— Q'^^S'

SECURITIES,

Bid. Ask.
Gaa Wecurltlea.
Loganspt 4 Wab Val— Stk
43
46
Ist 6s 1925
J4D 63
67
Madison (Wis) Gas— Stck
81
83
1st 68 1926
A40 «107 111
Ohio 4 Indiana— Stock.
48
48
lBt6R 1926
J4D 64
66
Peoples Gas 4 Coke— N Y Stock Bxoh
Philadelphia Co— See Bos ton L lat.
48
46
St Joseph (Mo)
6b 1037
J4J
96
98
68
Bt Paul Gas— Stook.
61
Consoles 1944.... M48 \ 89
01

Gas 8ecurltlea.
Syr'BoGas- ist 58'46.J4J
Western Gas (Mllw)

.

Syraouse

Gaa— Stook

16

18

5b— See

NY

8t

Bx

<&c
Bid.

86
106

Ask.
00
lOd

llBt.

Telea:. dk Teleph.
merioan DiBt Tele— NY Stock
Bell Teleph. of Buffalo... 176
Uentrai 3t South Amer. .. 111
US
OheB 4 Poto Teleph— Stk
0491
Bond 5b
104
Oommerolal Cable
108)4 iesM
Oommer Union Tel (NY). 114 110
{And Intweatk tPrloe par Bh ar#
.

Dec.

9,

THE CHRONICLE -BOND

1899.J

Price

BONDS.
STOCK EXCHANGE
Week Ending Dec. 8.

a 4s.'77

1937

84

•

25

M-8
J-D

•

"14"
• •

151

69
95

93H
77
94

F-

M-N

105^
118
97

Registered
IstoollgoldSs
192(1 FRegistered
1920 F-A
Pao R of Mo l8tezg4s.'38 FSd extended i^old 6s 1938 J-J
Terd V 14
Istg 5s. .'26 M-8
Laror&CVAL Istg 5s '26 J-J
8t Louis &, Iron Mount—

160
121
127
138
113

Apr'99
J'ly'99
Jan.'99

Dec '98
13

112

Nov'99

109

91k

69
93

70

96M

38
S6
39
61
12

94
77
94

77H

6

94

105)<

116»i

114

114M 114
97

91%

94H[

96

93><

10
14
13
34

\05%

Mt,H

Sale
Sale

94H

65H

Moitgage gold 4s

1945
1945

Small

Mob A Ohio new gold

'27

.

.

96)6

128

84

83H

109

....

Oot.'99

1906
109U
North lUlnols. S<eChl4NW
North Ohio. Sm L Brie 4
Northern Pacific—

100
115

11496
111)6

Nov'99

130
101

J -J

10«J^

ipe^
101
•10094
110)4

1029i Aug'99
110 Dec'99
118X Apr'99
98

97«

F-A

F-A

116

•

•*•«•

109

ioe«

Sep.'9e

!78
179

191
186

Aag'99

133

189

Nov'99

J'ly'99

113

10494
1049(
101)6 Nov'9h

10 103

11794

79i 8ep.''99

130
188

J'ne'99

Dec'99

117)6 Aag'98
101
Feb '97
98)6 Dec'99
98'^
92
96)6 J'ne'99

181M
lis

106H

185
180

96)4 101
88)6 96)4
95)6 9SM

84

111)6 117H
106)4 113)4
10594 118)4

103)4106
10196
10294
10^96
111)6
65
97)6

10796
10294
118)4
118)6

103
108

1910

181)4
138
J'ly'99
101% 10296 201 101
102
102)6 Oct.'99
'98 66
66)6
86)6
66 Sep.'99
65)6

102)4 Sale
"a'5)6 8ale
'.'.'.'.'.',

'86)6

182

M-N

86

Sale

70

A-O
M-N
-J
J-J
M-8
A-O
A-0
M-N
M-N
F-A

lil^i

Bid.

Ask.

76

78

4

tOkBx LUt
133

180
118
825
nlist.

12 10996 n6»g
lis
6 109

Apr'99
Aug' 98
108)6 Nov'09

lis

J'ly '90

123

188

183

123
103

J'ne'99

123
103

188

\0\%

Nov'99

107)4
10196 106H

10196

and asked this week.

tDueJan.

Tcleg;.
••aotflo

4

& Teleph.

Bid

Atlantic

7

Ask.

75
90
05

Providence Telephone.
(•it
Southern 4 Atlantic
100
West'n Union Teleg— N Y Stock Bzoh
EleotrSc Companies.
Allegheny Co Light Co... 168
173
Brash iGlectrlc Co
46
44
Br'dgprt (Ct) HI Lt Co.85 t 49
Consol Bieotrio Storage..
13
8
.

Mfg C0..35 t 13)6 16
ni Co
N Y Btoek Bxob
Bdlson Bl lU Co Brk— N Y Stock Bzoh
Bieotrio

BdUon Bl

NY—

BdlsoD Ore Milling

Co....

10

18

21 103

110

loa

106

108)4 10496

10496 Nov'99

114)4

108

110

19 114

lis
Nov'99
Nov'98

118

11896

ll&M

114
114

118
110

104)6 107
105)6 10716

13894

Kl

140
135

140J6

119)6

11««

180

tOS)4 108

131

181

113), 114

May'07

113
116)6 Feb.'OO

Deo4B

lstg6strrec.'20 J -J •100

M-8
2d g 68 tr rec 1st pd.. 1926 M-N
^•o4Bast. SM0CC4 8tL
^•o 4 Pek Un Istg 6s. .. 1921 Q-F
tdg4)6s
Feb., 1921 M-N
••Ine Creek reg guar 6s.. 1932 J-D
Ivans Div l8tg68trreo.'20

100

...,

08)6

97)6

90

too

9794 Nov'99

20

Apr'99
Nov'99
Nov'97

101

99M

Deo'98

136
96
137

120
90

03)6

126
oa

180

lOOM

^IttsCin 4 Bt L. Bu Penn Co
'
O 4 St L. Bee Penn Co.

tDueJuiy.

(Given at foot ov

104
83
85

85

1021
115
Gtd3)6sooltrastreg.l937
102
P CC4 St Loon gag 4)68—
Series A.
114
1040
114^ 115 Nov'99
Series Bgnar
1942
114
114)6 113)6 J'ne'99
Series Cgaar
1942
113 Nov'98
Series D 4sgaar
1945
107
107
107
FltU Cln 4 St L 1st 7s.l900
10596 Apr '99
Registered
1000 F-A
ioe>4 Apr '97
Pitts Ft W4Clst 7s. 1912 J-J
140 Nov'9H
8d7s
1912 J-J 137)4
139 Nov'99
8d7s
1912 A-O*
135 J'ne'99
C BtL4Plstoong5s.l932 A-O
119)6 Oct.'99
ElegisterM
1932 A-O
Olev 4 Pltis oon s f 7s. 1900 M-N
105)4 Sep.'99
Gton ga g 4)6sser's A.1942 J -J
121
J'ly'99
Series B.
A-O
1942
rle 4 Pitt KO g 8)68 B. 1 94 J-J
BertesC
1940 J-J
arR4I exist gag4)68. 1941 J-J
114
Oct.'99
AUegh Val gen gag 4s. 1942 M-S
102 Nov'97

**o

106)6 106)6

188

103
85
OS

Oct.'99

fensaoola4At. Se«L4Na8b

118

IaD

108W

114)6 Sale

DNJRR4Cangen 48.1944 M-8
DRRR4Bge Istga 4s g.'36 F-A
Son 4 LewUlstg 4s.. 1936 J-J

122)6183

127)i

113
107
103

Bddy
180
187
116

109

29 110)4 1179<

•oS«

laiM

107)6

104)6

Conoarrenoy 6sreg...l905 Q-MI
Cone 5s
1019 M-8
RegUtered
1919
Oong 4b
1043 ^-- N
01 4 Mar 1st gn g 4)6s.l 935 M-N

108M

97)4 100
10894 108
108 106)«

90

11 113

• • I

120)6

76)6 Oct.'99

•106)6

J'ly '98

3

Oct.'99

May'99

irs
85

100)6

96

97

97
97

95
120

70

108)6 J'ly'99

J'ne'98

97H

11

ISO
119

132

1st g 4)6s...l031 J

RegUtered

118

131M May'99

1997
3047
3047

Istsf g 4)6a....l917

^4^

119)6 Apr'99
J'ly'99

118

1921

N4CBdgegengag4)68.'45 J-J
••naRR 1st real es g 4s. 1 928 M-N
Oon sterling g ds
1905 J-J

price Friday; these are latest bid

. .

!••

5 103),

113

A-O

113>4
112x4

Franklin
Gold & Stock

s

117)6

•103

F-A!

40
118
Bonds
90
Hudson River 'Telephone lis
Internatlon Ocean
116
Mexican Telegraph
218
Mexican Telephone— See Bosto
IJew Kng Telep—See Bost oa lUt
North western Telegraph. 117
II Y 4 N J Telephone.
If 8
1080
M4N 118

. •

105%

•••••• ••••9'

02)4 Sale

112
111
109
106

103

OUTSIDE SECURITIES
rie

•••••»

••••t ••••••

29 105

i06V<

i 1

08
08

•

Aug'99
Aag'99
May'97

97H

1900 Q-Jt

,

189
186
133

135
128

104
104
103

•

ilay outui lui.
Teleg Telep— See 8

•••••
st*««
•••••

M-N

A-O
F-A
J-J
M-N
A-O
A-O

•101«
101)< 102

J-J
M-8 106
Oart & Ad
J-D
NT&Patlstoongng4s.'93 A-O
N Y&North Istg 5s.. 1927 A-O •t«i»
Lake Shore it Mloh Sonth—
Det Mon X Tol 1st 7sl906 F-A 133
Lake Shore oon Ist7sl900 J-J 103

a,

18a
137

104

M-8
M-8

97
97

Blk Rlv ga g

Teleg. Si Tr^leph.

10»

189
187

May'99

118)6

97
97
96

W
& Mont 1st gag 5s. '16 A-0
R W* OTRlstgug5s.l8 M-N
Oswe &B 2d gag

Koipire

lllH

10354 J'ne'99

Nor

•No

•>•

Nov'99
127

118H

4 Cal. Bet So Pao Co.
Ry & Nav See Un Pao
Oie RR & Nav See Un Pac
Ore Short Line S«< Un Pao
Oswego 4 Rome. Sm N Y C
O O F 4 Bt P. S«« C 4 N W
PaoCoastCo— 1st g5s.l946 J-D
aoof Missouri. Bu Mo Pao

• • • « t

104K reb.'99
102^ Nov'99

4s.

5s.. 1915
4s. '22
1st gag 4s. 1991
1st ga g 4s. 1981

•§•••<

BtP4NPgeng6s...l923

lis

•100«
•lOOH

1st 4s gn. 3361 J -J

RegUtered

Registered.

Dec'99

112« 112M
lll« Oct.'99
106M 106H
106M 106X
109X Sep.'97

118K,
1X2H.
106^

112 Sale
2361 J -J 111)< 113
1936 J-J '
110
Registered
1936 J-J
2d gn gold 5s
1936 J-J
Registered
1936 J-J
Clearfield Bltam Coal Corp
Istsf Intgng 4gser A.'40 J -J
BmaU bonds series B. .'40 J -J
Gony A Oswe 1st gu g Ss.'42 J-D
R &Ogoon lstezt5s.'23 A-O* 127

&

103

Feb.'O!"

106)6 Feb.' 9(108 Jan.'9t

I

RR4LGsf ges.'21

8fsabsidyg6s

Registered

Utloa

Ist

PennCo gn

Registered
1903 J -J
Debentnre 5s of .1884-1904 M-8
RegUtered .... 1884-1904 M-8
Reg deb 5s of ...1889-1904 M-8
Debenture g4s.. 1890-1905 J-D
Registered
1890-1905 J-D
Debt oerts ext g 4s. ...1905 M-N
Registered
1905 M-N
OSHa
1997 J-J
Registered.
1997 J-J
Lake Shore ool g 3^s. 1998 F-A
Registered
1998 F-A
Mloh Cent coU g 3^s. .1998 F-A
Registered
1998 F-A
Harlem 1st 7s
1900 M-N
RegUtered
1900 M-N

Moh&Mal

Gen

Panama

1986

• • •

18894
Ore
101
106)4 108)6 Ore

Sep.'99

4-01

1st 4s .1986

111

18294 issic
10794 113M

84)4
105T6 8ale i0596
10S^:8ale; U 5J6

(isSSS
••s«s*
••••••
•••••t

0Ind4W. S««C0C4StL.
hlo 4 Miss. See B40 BW.
Ohio River RR 1st g 5s.. 103 6 J-D
General gold 5s.
1037 A-O
Dm 4 St L Istg 4s
1901 J-J

it,

Beeoh Crk 1st ga g

Blstgag4s.ie89
Ry Istoong 4s. 1096

Registered
Small

H J Jnno BR. Se« N Y Cent.
NawACInBdge. 8e«PennCo

Registered

N4W

Dec '99

,

Huh Flor A Shef. S«« L & N
MtwH&D. SMNYNH4H

West Shore

V4N

RegUtered
Wash Cent Istg 4s.. .1948
136
130)4
Nor Pao Ter Co 1st g 6s.l93S
117 128
Nor Ry Oal. Bet Cent Pao.
83)6 90
106 109)4 Nor Wis. S««C8tPM40.
Nor 4 Booth 1st g 5s.... 1941
Nor 4 Mont. <8«« N. Y.Cent.

137« Nov'99
laiM J'ne'99

Sale

J-J
131« 130
1901 J -J
101
1928 A-0 105^ i06H 106
lSt6sT& Pb
1917 J-J
••• •••••
1st esMoMMW&Al. 1917 J -J •112
1st gold 6s Jasper Bch. 1 923
-J •118
113

N J JnnoRga

Solo

Itoglstered

2d 6s
1st oon gold 5s

TOent&HB— lst7s.l90S

118M

104)6 Oot.'9'<

Convert deb oerta 91,000
SmaU certfstlOO
Hoosatonlo R con g Ss. 1 937 M-M
N H A Derby oon 5s. .. 1918 M-N
N Y&NBlst7s
1005 J -J
1st es
1905 J -J

General Hen g 3s

1st 7s. '13

II

106
16 loe

W

37 106
109

.

N 0&NBprlorlleng6s.l915
N Y Bkln Man Bh. Stt L 1.

J-D

• • • •

114)4117)4
16 111^ HOW

e6>4

J'ly'99

Sale 10996
110
Nov'99
109>i 109

Mohawk & Mai. Sm N 7 C & U
Monongahela Rir. iS«« B & O
Mont Cent. S«« St P M & M.
Morgan's La & T. S«« S P Co.
Morris ABssez. Se«DeIL&W

NathOhat&BtL

J -J

1

Nov'99

•••«f« •••••t

108
122
ISO
137

•••••• •••••

•

High. yo. Low. High

12294 NOT'99
108
10794

103
118

J -J

I.

108)«Deo'9

108)6

Registered otf s
1033
Prior Hen r 4 1 g g 4s. . 1007

6s
*12S
1st extension gold 6s. 1927
Osneral gold 4s
1938
84
Montgom DlT 1 St g 5s 1 947
»107
Bt L & Cairo gn g 4s 1931 J -J
. .

Bt Istga g 3s. '89
St L Istg 4s. 1937

110

•180

m

Jan.

.

J-J
J-J
J-J
J-J
J-D
Q-Jt
M-S
F-A

prlorlleng 5s.'45

&

N Y & North. Sm N Y O 4 H
N Y O A W. Bef 1st g 4sl992
95
RegU 95,000 only... 1992
76)4 82
N
86
06H N Y 4 Pat. Sm N Y O 4 H.
Y 4 R B. Bee Long laL
1003610096
N Y S 4 W. Be* Brie.
101)4 107)6 N Y Tez 4 M. S«« 80 Pao Co
10894 1219« Norf 4 West— Gen g 6s. 1931
New River 1st g 6s. ...1038
118 117
Imprvmt4ezt g 6s. ..1034
91)6108
C0 4T Is gag 5s.. ..1022
83
86

106
110

Nov'99

106H

96
7396

9094

88

106W Nov'99
110

llOM

MlssBlvBdge. S««Chlc&Alt

Mob&Blrm
BmaU

1931
1940
1940

Is

118
1119<
10i< Nov'99
1
109>4
100)4

Bale

•••••• *•••
•••••f ••••§

N T Cblc ft
A-O
RegUfored
1937 A-O
14S
150
N T A Greanw Lake. a»e Brie
121
125
NTAHar. SMNTOftHad.
127
137
N T Lack & W. a«« D L ft W
llOX 116X N Y L B 4 W. Bet Brie.
NY4NH. SwNYNHAid
96
100
N Y N H & Hart Istreg 4s. '08
109

Oct.'99

90«

Sale
Sale
Sale
Sale

Sale

A-0 109M
A-0

'

108)6 106

11 4)4

113
109

.

.

')«n oon stam D gtd g ."Ss 3
New4i. S«e"Uiili9t.Bds."

Oct. '99

;;!i;;

Sale

M-N 115^

G«noonry&ldgrtg5s'31

108

10096 Nov'99

1906 M-N
1917 M-8-t
1917 M-8t

W

14

108

••••••

IVl-N

J-D
A-0

.

Bd7s
Trastg Ss

14

Oct.'99

100

Registered

M- S

. .

Apr'''99

I

109

Gold 3)6s
RegUtered

«s

1990 F-All
1944 M-N

K O & Pac 1st g 4b. .1990
DalAWa 1st gn g 5s. 1940
BooneTBd)«Cogag 7s.. '06
Tebo h Neosho 1st 7s. 1908
MoKsB 1st gag 5s...l94ij
Mo Pao— 1st oon g 6s 1920

8894

J-D
J-E
J-D
Oln&SlstgLS&MB7s'01 A-O
KA&GR lstgo6s.l938 J-J
MahonC'lRRlst5s.l934 J-J
Mloh Cent— 1st oon 7sl902 M-N
1st oon 6s
1902 M-N
6s
1909 M-8
es
1931 M-e
1903
1997
1997

Registered

Bat O

-J •••••t
-J
MBtP&SSMoong4slntga'38 J-J "97"'
Minn Bt By 1st oon g 5s. 1919 J-J 109«
Minn Un. Sm St P M & M.
Mo Kan & Tex— Istg 4s. 1990 J-D 90^

MK&Tof Tlstgng6s.'42

84)6

Sep.'99

87?^.

Ask, Low.

Bid.

Registered

MBBM&A

Id gold 4s
lit exten gold 5s

53

1494

Range
nnce

Last Sale.

68H 78H N T Cent— L 8 & M S (Con)
Consol 2d 7s
16U 99H
1903 J-D 115
99J

Week's

Range or

Dec. 8.

Low. High

106

•

J-D
J-D
A-O
M-N iu« nan
M-8 95^ 96

MA

10^

1185

3.

Price
Friday,

N.Y.

1.

108

S

Iowa ex 1st gold 7s... 1909
1st g 7s. '10
Paolflc ez lit gold 6s 1921
1st cons gold 5s
19b4
1st and refund. 48..., 194
P Ist Ss St 4s Int gu..'3e J
Istg 4b Int ga. '26 J
.

53
20

Page

(5 pages)

BONDS.
si
STOCK EXCHANGE
Week Ending Dec. 8.

since

87
100

40

.

SonthWestex

Range
Jan.

"i^

y.0H

87)4 Sale

M L 8 & W. Set Cblc & N W
Mil * Mad. au Chlo & N W
MU* North. Se«ChM&8tP
MU & Bt P. Sm Ch M & St P
Mln A Bt L gu. iSe« B C K & N
Minn it St L— Ist g 7s 1927 J-D

.

24H

lOii Bale

Idlnc6s ACp 8tmpd.l9l M-8t
>d Income gold 6s B..1917 An.*
Max North 1st gold 6s.. 1910 J-D
Mloh Cent. Se« N Y Cent.
Mid of N J. at» N T Sus A W
MUKlBy&L30-yTg5s.l936 K-

.

Last Sale.
II

oon Income g8i...l939 J'lyt
Id oon income K 3t.,,,19yb
1
qaipAeoUg 5s
.\-o
lit

Mm Nat 1st gold 6s

I2

Ask. Low. High. "no

Bid.

Mez Cent ooc gold 4s. .. 101 J-J
Max Internal 1st 0'>ri

Week's

Range or

Friday,
Dec. 8,

N.Y.

PKICES

DDueJnne.

SDueMay. TDueNov.

oonsbcutive pages).— r.^Z
Electric

Companies.!

Bast Bnd Ulectrlc Light.
Hiectro-Pneumatic Trans
Fort Wayne Blec. Co. .35
Series

A

—

Ask.

a These are option sales.

S ELEGTRIG, Jc

Eleetrlo Ccnnaxlea.

Bid.

Toi-onto (Can Blec

149

Ask.
144
100
1)« Tbom Hoasi Welding Co.
1
18
80. Dnited Elec Lt* r uo^ref
18
40.
40
Bondd. ....,..,.,...,... I 9094 07)4
35
106
Stock Bxob Woonsocket CR H Hi Co.
Bid.

General Klectrlc C< N Y
Do pref.— See Boston L Ut.
Hartford (Ct) Blec Lt Co. 148
Hartrd(Ct) Lt4PowCo86 t 7
Mo Bdlson Bieotrio
84
Do preferred.
66
98
Narragan. (Prov)ElCo.5(
New Hav (Ct) Ble« Lt Co 106
Rhode Island Eleo ProOo 117

•

••

168
9

80
08
06
110

t

'

t ''x).

Ferry Companlea.
110

J4J ill8

110

.

Bonds 5s

1

Metropolitan Forrr—6s.
N J 4 N Y Ferrv—Stock.
1st 5s 1948
I Ana interest.

30

89
04
118

Brooklyn Ferry-Stock

't-Prtoe

98^

per sb are

THE CHRONICLE -BOND

]l^t)

Dec. 8.

.

rs -q

Range

g'S

since

Last Sale.

<

|b^

Jan.

1.

iu7>» Oct.

1922 Jntti JnnolBtgds
nttt* L Brie— 2dg5i ..193S A-01

O

90

Sale

J'ne'99

90

116
98
101
101

J'ly '99

113

Sale

tJo&GIlstK

97

88
05

t L & Cai.

See

Mob &

15

9P5i
J'ne'99

91

87«

Not'99

74«

84

J

110
112

lis

1

125

1

Nov' 99
112
Nov'99

110

Series

B3^
lOu

94

8

iirv^

09H

115

122
12694
107
112)4
100)i 105)s

19

87M
6U^

Sale
Sale

119
108
96

120

.

lil

J-D
J-D

103

latg S8....1938
1938
BegisUred

Bt P ft Nor Pao. See N or Pao
BtPAS'zOtty.SeeOStPMftO
a FePresft Ph I8tg5s.l942

132

62

103

Sale

iss
115
118
118)i

119
141

118

104

il3J6 il9Ji

lbs" 113)4

108

120

Apr '99

115

W

122
112

120

1949

Renisterpd

MortBuarg

3J^8....1929

9J

I

J-Dt

85
99

OalHarftSAlstg
2dg7s

68.191 u

1905

Mexft Pao Ist g.. ..Ss'Sl
H0O8ftTCl8tWftN7s.'03

b-A

J-D

81

108

99^

102>.i Sale

-J

Ist gold 68
Ist gold 68

8erB..1905
1906

Istg'ld 88
1912
1st con guar g 5s 1 937
1905-37
SUmped.
.

.

AftN W Ist gng 58.1941
P Coast Istgn g 48.. 1937
NMei Istg 6s. '11
GllaVG&N lstKU«5s 1P24
8

BPaoof

NoofCal Istgug

1907
Guaranteed gold 5s.. 1 938

'No

6a...

Sale

Oct. '99

107"

10

113
90

184

130

and asked this week,

OUTSIDE SECURITIES
Ferry Companlen.

Bid.

Ask.

N T ft B R Ferry— atixik.

70
Bonds 5s of 1932.M&N i 95
Hoboken— Stock
69
lat 5s
110
Con. 58
8 B Trans

HYA

94
ft

Ferry

;i')

Bonds 58 of 1906. MftN i 92
10th ft 88d Sta Kerry
8s
latmortSs 1919... JftD ?104)6
Onion Ferry— Stock
41)4
latSs 1980
MftN {101)6
{Buyer pays acvned intere
t Prioe

per share.

113)^

A-O *I08
A-O 109^
A-0,ni4H
104
Nov'99
M-N
106
105?|
J-J 98 106)i »8H
B8?i
«8)<
J-J
J -J
11 3% Nov'98
M-N 103 105 104)4 104)^1
J -J
A-O
106 Aug'99'

price Friday; latest bid

07
71

112
96
83
94
00

t

\ii'i^
St.

J-D

97
77)6

106
86
1089(

35 109M 116
105)6 liiS

104
IOC
90

103

103

13

108)4
109)4
101

Due

miKcnllnneoiin. Pif.
Amalgam»fted Copper

Bid.

Ask.

62

rf

8ton

82)6
List

70

ijuer

—

t

20
47

76
17

Bonds 5)1
M&a
A mer. Caramel— Common
Preferred

91

50
100
20

31

50
2S
78
20
60
98
52
103
22

120)6

I129< 113M
U196 116

107
112
50

Nov'99

64

128

128

Dec '99

Sale

Mob.

107
I09)6116M

104

60

113

45^ 56

Oct.'99
51)6 Nov'9*'

107)6

86

51)6 56)6
126)6 12996

104
100

84)6 Nov'99
80
80)4

lis
97

118
99

Sale

103)6

112

109

1039i Sale

80
78
92
99

89
83

103)6

108

108

108M

Series B
Istg 3s Det

1939
ft Ch Bxt. 1941
StChas Bridge lstg68.1908
Oft

W.

.

W

See Del L ft
See Nor Pac
See Southern
ft

M-N
F-A
J-J
J-J
J-J
A-O

ll49i Sale
100)4 Sale

87
39)4 Sale
110 Bale

106

16
16

119

Ang>99

10

10894

99
109

Nov'99

1089^

103H
108
101

129
121

104)6 362

121)6
100)«

106
108

Nov'99 "43 108 118
100>, 106
101)4
126 188M
Dec '99

Mar '99
May '9 7

102

lOSW

1029i 109
103J6 108H

Oct. '99

121

181

114
114)6
lO^)6 Nov'9tf
75)6 Oct.'99

c5 ibs" 117)6
108
86

114
10014

40
40

113
94

10

75

65)6

84H
39)6

110
110

116
101
849i

80)6

ft

M-N
M-N

W

1496

70M
34M

j'ee"Unli8t'dBds.

108
98

Jan.'99
108)6 Nov'99

110

Apr'99
92)6Mar'98
96

92

110)6
98>i6

1

BON
-D
J-J
M-N
J-J

Soda Kouu— Com. 100

100
100
50
\ m Typefo'rs— Stock. 1 00
\mer f irawboard....lOO

F&A
Bonds 68
Amer. Woolen— Com....

loS

D8.
9196 Oot.'98

116

I

Due Nov.

Bid.

r.

43)6
9

210
54
31
102)6

116

116

116

99

84
Preferred
79
^mer Press Aaaoc'n. .100 75
4.merifHi) Screw
250 t200
Isr. preferred
ad preferred
Vmencnn Surety

79)6

3

76

J

Due Jan.

Mlwcellaneoun. Par.
Amer IJide & Leather...

58

6>6 J'ne'99

75

A-O

Registered

NOT'97
Nov'99

34
•

. .

Pref e rred

118

'

GAB ft ELECTRIC LIGHT
G L Co 1st g 58.1047
BoaUGastrotfss {g58..'39
Bklyn U Gas l8t oong5s..'45
ChGL&CCo. SeePQ&CCo
Columbus Gas 1st g6s.. 1932
Con Gas Co. See P G ft C Co

Due March.

113
104
96

113

A-O
-J
F-A

J

W

See

Atlanta

Mil

54

11

Deo '97

99

C ft N
Winona ft
WlsCentColsttrgSa ..1937 J-J
Engraved trust oertiflcates.
1937 A-bi
Tnaome5a

I

108)6 118

12

ft

Wheeling ft L B Ist g 5a.l926
Wheel Dlv Ist gold 5a.l928
Extenft Imp gold Sa..l930
Wilkes ft Bast. See N Y B ft
WU ft Bioux F. See St P M ft M

July.

8496

Pa—

W Va Pitts. See B O.
W VaCentftP Istg 68.1911 J-J

48.

118
lOS

42)6
413 33
40
110
12 105)6 111
109)6 118
May'99

1st g 58

Detroit City Gas g Ss. .1923 J- J
99% Sale
Det Gas Co con Istg 58.. 1918 F-A
Bl 111 Istoonv g 5s.. 1910 M-S 109)6 110
1995 J-J 120
lat oon g OS
105)4
Brooklyn Ist g 5s
1940 A-O

t

94

17

W

ioe" ibe'

Amerlcai) Beet Sugar
Preferred
Aroer Bicycle Com

1

Oot-'w

El

AlrPowof N Y.lOO
\merlc'n Axe ft Tool .100
Amer Bank Note Co... 50

"99

1129< J'ne'99
11196 Nov'99

100
99)6
9a)6 Nov'99

06
96

39

Nov'99

110
122
111

v

& MISCELUS.
Bid
105
lin

Ask.

37
81

timer Wringer com... 100

85

Kma? Graphophone

...

Pref
•

7

46
12

220
55
S3)6

24

5>';

78)6

7«96

10896
101

107)6 118)6
120)6 124
111
111

"5

122

May'99

180

a These are option sales.

(Given at foot op 7 oonsecutivk VKQm).— FERRY

American Ginning

Dec

90

Utah Ceutral. See Rio G
Utah ft North. See Ore B L.

New
102

8.B

Bonds due Aug.

Am Agrtcul Chem— Se«

new

Feb.'99

98

1947 J-J
OreRyftNavlataf g 681909 J-J
Ore RR ftNav oon g 4a. 1946 J-D 101)6 Sale
130
Ore ShortLlne 1st g 6al922 F-A
UUh ft Nor lat 7a
1908 J -J
Gold 58
1926 J -J
Ore 8b L— lat oon g 68.1946 J-J 114
Non-cum Ino A Sa... 1946 Sep.t
Non-cn Ino B ft nol trl946 Oot.t

St P.

I'referr.d

42

il8)«

108
"28
85

Nov'99

<r9
113)6 lis

90
119

Registered

W

109H Nov'99 "79
102
IDS
100)6105

118
107

109

Aug'99

115

J-J

BR ft laiid tirant g 48. 1947 J-J

See Cent Pac.
89)i Western Pac.
Chic St40-yr latour5s.'28
40-year oon g Sa
108 114
1936
109)6 110)4 West Shore. See N T Cent.

.

II

109" 109*

85

81

.

eoPof Argu l8tg68.'09-10 J -J 113
BPor Call8tg6B ..1905 A-O *107

87)i

85
191

8SM 176

J-J
lia>^
112M
A-O 110 112M 110 Oct.'99
85 Bale
1921 A-O
85
Oeng 48 Intgtd
86H
Horgan'sLa&Tl8tg68.'20 J -J »ia3«
120><Feb.'9^
Ist 78
1918 A-O 135
134 Nov'99
NY T & Mexgu letK48.'12 A-O
109 Nov'99
Ore ft Oal 1 St gtd g 58 1 927 J-J 101
78 Sale
B A ft A Pass 1st gu g 4b '43 J -J
80
•7%iXi
1H05 b-A
lie Dec '98
Texft N O 1st 7s
.'«-S
Sabine dlT lat g 68. .1912
106M Nov'9
\Ct4^
1943 J-J 1 04 Bale 104
Con g58

102

Jan. '09

1937 J -J 112
113
112)6
Gen g3-48
1943 A-O
69)6 70
69)6
69)6
Income Sa... .April, 1943 Not.
23)6 84>6 2496 Nov'99
97)6102%
West No Car. See South Ry.
819i

Nov'99

1937
1912

IstgSslut gtd

Oong68lntgtd

ino. 58, Deo... 2000
trust Co ctfs. ,

Warren RR.
Wash Cent

83^ 457

81H 81

aii-s
J

Sale

*110

1929 J-Dt

Reglst.red

2d gold

112

18SH

108

Oou'99
"

15

1

no

102)4 111

N.

4)6s.l943

Nov'99

81%

101

106H

Nov'9«

109

Lew— See Feun RR.
Syra Blng ft N Y. See DLft W
'Per A of StL latg 4)68. '39 A-O nil
1
Ist oou gold 58.1894-1944 F-A 113
St LMBgeTergu g 58.1930 A-O 108

West New York

8 1^ Sale

100

.19

ft

Wash

F-A

ft

Mar '99

104M Fab.'98

KUg4s.l949 F-

L

Ry Istgug

Utloa ft Black R. See NY Cent
W. See Mo P.
Ver Val lud ft See South Ry.
IrginlaMid.
107M
1939
Wabash 1st g 5a
2d gold 68
1039
11296 1129^
122 122
Debenture aerlea A. ... 1 939

.

lef

See

3pok FallsftNor Istg 68.1939

95

ll2?^Oct.'99

.1

CPaclst

Ala.

i36
12696

102

UnlNJRRftCCo. SeePaRK

122>{ ISO

1926 -J
Beabft RoH IstSs
Car Cent Ist con g 48. 1949 J -J
Ist g Ss. .1924 J-J
Sod Bay ft So
Bo Car & Ga. See Southern.
Bonthem PaclHo Co—
Gold 4s Cent Pao col.. 194 9 -Dt
1«49 -Dt
Re Iftered

108)4

134^ 137)6

1065i Nov'99

W

See Nor ft

112

Apr '97

108

M-S

See So Pao. Co.
Istaf g58...1919 J -J
lat oou g 68. 1934 A-O
BaT F ft
1934 A-O
l8tg5s

N B.

N

ft

i'<0

Uclon Paciac—

102
104

17

Jan.'99
Jan.'98
Oct.'99

P.

ft

S

122"-

109

W

W

Nov'99

137« Feb '99
l\6H 115«
106H Mar'9n
102
103M

laax

1931

,199<134«

\'i2\i

100)6 Oct.'W9
106)4 Oct.'99

Third Av Ist gold 68.... 1937 J'120
122)4 Tolft O C Istg 5s
1935 J-J
115
West'ndiv lat g 58. ...1935 A-O 103
109)6
99
102
General gold 68
1935 J-D
Kan ft M 1st gu g 48. ..1990 A-O
70
Istgold 4a.l917 J-J
118)6124)4 Tol Peo ft
10 119
125)« T StL ft KG latg 8atr.l916 J-D 116
6 138)i 146)6 Tor Ham & Buff Istg 48 1946 J-Dt
Del lat og 68. 1928 J-D 1089i
"8 137J4 13794 Ul8t«rft
n Bl (Ohio) lat g58..1945 A-O lOs
112J4 119)4

Feb '99
IICH

Sale

135

192H

123
124

106

84« 97
Tex ft N O. See 80 Pao Co,
40« M% Tex&P Ry E dlv latg 68.1905 M-8 101
lat gold 6s
2000 J- D 112
*.

119
119
141

A-O 108
A-O
A-O
A-O
J-D
J-D

BVftNP

I9<i6

88
238

lOOJi Nov'99

104

J-J
J-J
J-J
J-J
J-J

1921
1921

Ss

88M

llOM

J-J

WUlftSF

Boioto Val

1916
1916

94

Nov'99

21

100)6 103
17 11816
10396 106?*
114'« 118)6
114)6 ISO
loe
110

123
124

100*

82
98

12

121H

1

4-58

E

..

123'

21

9»H

1

*ll7Jg

'IH

D

123

"i6

Nov'99

Manitoba—

BMl8tdlTl8tg58.,.1908
1008
Registered
Nordiv Istg 48.. A.. 1940
1940
Registered

W

Eng

lidda

ft

112

89
102
96

906
1906
1911
1911

C 6b

..

122

94

S3?i

87«
60«

112

.

110
1936 M->
110
Gtd stamped
1936 .n-N
Oft
Istoygn 48.1934 F-A
WestN C Istoong 68.1914 J-J 117)6 120
Statlal

O0l.'9'

84

115
i^

I>l-''''

Gen 68

Snnb
100
94

Sale

t

A

A 6s.

Series FlSs

116)4

110

100^ Oct.'99
105

Gray's Pt Ter Istgug 58*47 J-D
Paul City Cab. eg 58.1937 J - .
Goaranteed gold 58...1937 J-J
f tPaal ft Duluth—
1931 Flit 58
1917 A-O
«d58
1868 J-D
iBtcog 48

B

V irglnia Mid ser
Small
Seres B 68

115

no

125

I24M

lOO

M->

1909
Dakota ext gold 68. .. 1910
1938
lat oonsol gold 68
1933
Registered
BedQoedtogold4^s 1933
1933
Registered
MontBxt lstgold48..1937
1937
Registered
Mlmi Union lat g 68.. .1922
HontC Istgn g 68. ...1937
1937
Registered
1937
lit isQar gold 58
1937
Beglatered

Aug'99

100)6 Aug'99
11H94 J'ne'9«
10896 Dec '99
11796 116
Oct.'99
Sale 116
11591
108
1079i Oct.'99

M-S
A-O 1O8
A-O * 97
M-S
M-8
M-P
M-S
M-S
M-S
M-S
M-«
M-S
M 8
M-S

191

.

Small

112
Sale

110)4

.1-15

Sdgislnc bondotfs. 198W

ft

1st g 6s.

Small

A-O

1929

So.
KL 8 W See IIUuoIb Cent.1989
lat g 48 bdofs.
L

B^Paul Minn

& Ga

Atl& Yad letg KU 4 8.1949

87

79X

.

.

ft

Series

-J

J-J
A-O

|rtBftVBBdglstg68.1910 A-U
K^miaa Mid Ist g ia. .1937 J-D
BtLft SF KKu48....1996 J -J
Sonthw Dlv Istg 5a.l947 A-O
48.

>1-S

1938 l>l-S
lat g 6a.. -.1922 J -J
Ohio Istg 68.1926 J-J
Dan con g 68 .1915 J -J

Seiies

It L M Br. See T KR A of StL
B^IiOUls Si San Francisco—
I9i6 M->
»o gold 6b Class a
1906 M-^ 112
tdgOldBs Class B
1906 M-> *118
td gold 6s ClasaO
ft O.. 1919 F- A
lit g 6s Pierce

Cent Dl« Istg

ft

Bo Car

8891

I02H 105
72
74H

74H

g 4-58.1938

Small

1931
1931
1987

101

M-N

KquipsinKtandg Sa.l909
Deb 58 stamped
1927

102M

Ohio.

S«nera1guld 68
a«neral gold Ss
littrustgoldSa

103)4 112)6
106)4 lOejt
107)4 U0)6

Registered

Knox

L ft Iron Mount. See M P.
L K C ft N. See Wabash.

et
Bt

Mar '91'

116

1956

Small

-.)

1947

106)4
108)6

Low. High

157

109

'103

GaPaoRy

'iiu

«4% 89H

8

83

'03-13

2-3-48..

84^

Con Ist g5s
B Ten reor lien

'*5«

86T« 430

84

N Y Cent.

8altLakeCl8tK8l6s.

1,

U2MAng'

lat 78.. ..1900 J-J
Divisional g 58
1930 J -J

lOlVg
98!^ 101

Rich

BR & P.

Pitts. See
Borne Wat. & Ok See

\msi

108)i

B T Va 4 Ga

98

IB

lOl

85H

J - J
97Ji Sale
83>*
Utah Cent 1st gu g 4s.l917 A-01i
ftloGrJuno IstgUB 58 1939 J -L loaii,
1940 J -J
74H Sale
BioGrSo l8tg3-48
ft

IflH

-

BlOh&Dan. SeeSontb Ry.
193H
Rio Or West 1st g 48

EOCh

90
116

J'ly'97

U

<fc

since

Jan.

High. No

Ask. Low.

108)i Sale

.

100
116

85^

J

1997 J

Last Sate.

8.

I

J-J
PttUMoKA
1934 JSdguar 68
MoKee&B Ylttget.1918 J-J
191H J-J
KtU P & F l«t g 5i
ritttSb & L Blst k5i..194< A-O HI
194^ J-J
litoonsol Kold 5a
PltU&Weat Iitg4i...l91'; J-J 1' 1
101
JP M & Co certfa
nttfT & A8blstoon68l927. M-N
99'^
1

Week's

Range or

8.

1994
J
Begistered
1994
J
Mem Dlv Ist g 4-4)6-5b1 996 J-J
Registered
1996 J -J
AlaCen R Istg 68. ...1918 J-J
Atl ft Cb Air Line Ino. 1900 A-O
Atlaa & Dnn Istg Ss 19 5C J-J
Col ft Green V Ist 5-68.1916 J -J

Yo— litgu6B.'3;

Begistered
Kensielaer &, ~ ar. See

LXIX.
Range

Price

Bid.

Nov'98

121

[Vol.

Dec.

southern Ry—
Ist con g5t

tfh

4.

Friday,

BONDS.
STOCK EXCHANGE

N.Y.

Week Ending Dec.

.

RWdlng Co gen g 4t.

Page

(5 pages)

Ask. Low. High. No. Low. Sigh

Bid.

A-«

BHtt»Cley ifcTol lit(t6s. 1922
Plttt A ComiellBy a<e B A u
Pltt»FtW&Ch. Se«PennO(i.

Week's

Range or

Price
Friday,

BONDS.
1^
N.y. STOCK EXCHANGE
Week Ending Dec. 8.

prices

10
10

Preferred

Amer. Writing Paper

s

1294
l:i)6

13)6
13)6

89

90

10
t

-'M

22

100

Preferred
6» 1942
Bergn ft Eng
let 6b
Blackwell

t

t

Ss.

luderson (John) Tol). 100
Automatic Vending.. .10
100
Barney ft 8m Oar

Br— See

Durh Tob 25

12
1

25

999i 102)6
107

J&j
Phi

Ask

105
I.

t

llHt

109)4
17

......

19

Dec.

9,

THE CHRONICLE —BOND

1899.J

Price
Friday,
Dec. 8.

BONDS.
«. Y. STOCK EXCHANGE
Wrbk Bndino Dec. 8

Bd

is t.

111

Jan,

of Bltlyn (Con)

A-O
A-O
l«t oongls
J-J
QaasLNYl8toong58..'32 M-8
q O Bleo Co See PK Q A C1922 J-D
& Fuel.
Co.
0«n
deb 58...
arRapGLCo 1st rSs.. 1915 F-A
B "^ Mo Gas Co Ist g 58. 1922 A-O
men ds.

9114 Oct.'99

107H

Oh G-L4Cke Istgng 58'37
Oon G Co of Chlstgn « 5s'30
Bq G4 FCh letgng88.'05

I

Mb

Fuel GaH

gu b 5. 1 947
Bl Istg 58.1949.

Trenton Q&
Waitn Gas Co

1

st

ool tr g S8...'33

MI8CBLLANBOC8 BON

Adams Bx— Col

tr

•••

109

I20>i

125

180
106

109i<
I06J<

Oct.'99

180

M-S 103^

Sale

102«

. .

88

.

86

18

103><

10

J -J

•••••t •••••

A-O
J-J
Int'l Paper Co litcongBs.'ls F-A
f Cff & Clear O 4 1 Ist g 58 1926 J-D
HdgSg
1926 J-D
Knlok Toe (Chio) Istg 68.1928 A-O
Mad 8q Gard Istg 5b.. .1019 M-N
ManBobH&Lgeug48.1940 M-N

107

94

110

95

99
70

M-N
M-N
Mat Un Tel Co.
Wn
Nat8tarohMfgCol8tg68'20 M-N
wpt News 8&D D 5s. 1990 J-J5
M T * N J Tel gen g 5s cy .'20 M-N
BY* OnlLand I8ig68.19]0 F-A

Company—Com.. 50

50
Bond A Mort Guar... 100
Oarter-Crume— Pref. .100
Oellnlold Co
100
Oent Firew'rks—Com.lOO
Preferred
100
Ohateangay Ore A Ir 68 1
Ohei A O Grain Bl— Inc.

60

\

68«
800

105
86

16

60
50

10

14

76
350

101
101

Olark Mile End Thr'd.lOO
Oonsolid Car Heating.lOO
Oonsol Flrew'ks-Com.lOO
Preferred
100

75
49
10

62
16

27^

113

09 " *99"

10^^

32
127«

85

8M

9

.

SO

31

8(5

Preferred
lectrlo Vehicle
Pt of 6rr6 d

37
42
70
100
76
109

40

Bppens em A wlem'.'.'lOO
Bastman Kodak Co.. .100 105

A

W.rstern Trans. 50
Fidelity A Casualty... 100

40
45
250
fidelity A Dep (Bait). .50 t200
205
German Am Real Kst.lOO 30
35
Ooodyear Shoe Machine. x49i4 SO
Gorham Mfg Co-Com.lOO 98 110
Preferred
100 119
Great Falls Ice
100 170
180
t

Havana Commercial

16«

Preferred
Heck-Jones-J Mlll-Pf.lOO

I'JH

6054

62

l8t68l«22

M&8

Her'g-Hall-Mar(a88t p'd).
Preferred (asst p'd) 100
Hoboken Land A Imp't
68
Illinois

Trans

Pump— Com

. .

90
103

83

103

95

Nov'99
Nov'09

llSii

Bzch
15

64
Bxch.
60
pref.

3«
95
105
list.

18

68
list.

do
65
do bonds. J102>i 103H
lion Steamboat.
100
3
S
«• 1801
J4J
60
65
John B Stetson— Com.lOO 100
Preferred
100 120
Jonrneay ABumham.lOO
3
Preferred
100
25
Kniokerb'r Ice(Chlc)-Se«
Lawyers' Surely
100
Lawyers' Title Ins
100
Liberty Silk Mills Prf.lOO
LoriUard(P)— Pref.. .100

StEx

28 registered
Optional
3g registered
1918
38 coupon
lOlH
38 reg small b nd3.19>8
38 cou small bonda. IOIh
48 registered
1907
4s coupon
1007
48 registered
1925
4s coupon
1925
Ss registered
1004
58 coupon
1904

List.

110
153i*

110
115)< 117

101

E3

.

Registered

85

83

26

lid'

110

13
64

'oij<m

in

101

1st

100

Ang'OO
Nov'09

103
96

108

9

Aug'Oe

iie"' iiiii

iooii

Novo'

iboi^ i'o7u

102^ May'09

103^ 1083

::.5

107

1 1

1

30

•

i'liii

F

118

43
recedincj

99

now

103

106^ 109^
10654 110

109^ now 109^ 109«
112^ 113^ 11256 Dec '9-1
113?^ 114^ nsst
134>4 Sale 13294
T34y

V-Jt
Q-Jt
Q- F
Q- F

ii»"

110

J'ne'09

daily record see seventh va ge v
ioaj< ..
103
108
17
'09«4
9
100§4
Sale
210
10956
110

F

1099i

lOi^iosS

1V4"

iVsji

110

,!,*%

lg«

20

Oct.'''0O

110
108

Sale

Visii'iio"

Feb '97

88

Sale
2'S^ Sale

Q- F lowj^
Q- F 109^4

m

10954

106l,j

114^
114U

112
138
128

ISiii
lS4)i

134)^ Sale
134^j
11)94 118« 111
Nov'OS
112>^ Sale 111«
112)iJ

110« 113)2

llOii 112

Q-F
Q-F

107

107
105
108
104

111
100
100
118
109

110^1132

Oct. '00

118

Aug'98
Sep.'OS

Nov'08

118

Nov'98

no

Apr '99

109J6 Feb.'9M

Small
Missouri— Funding.. .1804-05
Norta Car— Consol 48 ... 1 9 1
Small

8s
1019
So Carolinar-4Jis 20-40.1933
Tenn—New settlem' 1 3s 1 1

1,

Low High

U3H J'ly'99

115

M-N

J -J
J -J

GOV. SECUBIT1B8.

Virginia fund debt 2-3i.l901

101

100

-

10854 110
109>6 109)^

108**

108

J

J

108

J
0

127*

J -J

Apr"'9*rf

108

•••• •••••f

i"2"8**Feb.''9»

113

J-J
J-J
J-J
J-J

93
86

Nov*'99
93J6 Nov'90

Sale

86

tttttf

••

* • •

"9*0"

07

9.5

05

86

99

09^ 95
83» SlJi

15

8>4 Oct.'99

Due

t

Miscellaneous. Par.
Madison Sq. Garden — 100

MAN

2d 68 1019
Maine 3 S

50

Merch A Miners' S S.. 50
Mich-P Car Ist 58'42MA3
Minneapolis Brew Ist 78.
Mosler Safe Co
100
Monongahela Water... 25
Nat Enamel'g & Stamping
.

.

104

Bid
••

• <

6

9

6ew Nov'99

60
63
93

71
65

7)4

140

12
10

126
26)4

t

Penn. Water— Com..,. 50

t

5

6

t

66

68

91

23
35
410
2554

Pneumatic GunCar'ge.lO
Pratt A Whitn— Com..l00

f85

SO

8

Preferred
loo
Procter A Gamble.... 100
Preferred
loo
Ist 8s— See Stock Exch
R.I.Perkin8 Horse Sh.lOO
Preferred
lOO

45
375
190

12
35
390
200

list.

85
5'>

SlossIrASteel— geng4U8
78
Ist 68 1917
K4A 108
SloBS-ShetUeld, com.
S4
Pieferrtd
70
Southern Cotton Oil. .50
S3
StandardCoupler.oom.
33
Preferred
113
Stat Isl K T Ist 88'13AAO 107
2d 5s 1926
J4J
95
Still w-Bieroe A 8m-V.100
85
Swift A Co
100 103
l»t 68
ilOS

93X
30^

Bid.

Ask.

Am

Bxch..,. 185
Astor
490
Bowery*
2W0
Broadway.... 245
Butch'sADr.. 95
Central
180

195
300'

190

Chemical

425
315'
300
3900

Citizens'

149

83
72
160

85>i

73

.

40
116

120

Imp A Trad. 530

80

10.^

107

260

Metropolis*.
*

425

Banks marked with an

accrued

int.

my,

RltyB&T 300

310

Guaranty Tr
106

Int'l.Bkg&Tr
Knick'rD car
vlanhaltan
Mercantile
Metropolitan
.

.

136'

135

Mechanics*.. 207

....

L.

.

Mech A Tra*. 280

People's*

Dep A

Farm Ln &Tr 1400

.

450

Am

Atlantic Tr. 190
Bankers' Tr.

Feder'l Trust
Fifth Ave Tr 400

.

280
280
196'

N. Y. CITY,

220

200
Brooklyn* ... 110«
8th Ward*...
93
107
5th Ave*.... 104
First
300
330
90
G^r Amer*.
100
105
Hamilton*.
Kings Co*.... 100
Manufaot'rs. 250
260

Nassau
Nat City
North Side*.

115

Trust Cos.

Ctl

BR'KLYN.

t

145

Central Tr'st. 2100
City Trust. . t^91
Colonial
395^
Continental 360

Bedford*.,.. 216
190

140
550

20e

26th Ward*.. 140
Union*
120
Wall about*.. 105

505*

23d Ward*... 100
Union
330
Union Sq*
210
West Side*.. 375
323
Western
Yorkville*.. 210

Broadway*

100
L93
116

175H

95"

806*

170

490
225

atate of NY* 126
13th Ward*.. 130

Manhattan* 265H t
Market A Fnl 280 240
Mechanics', 204
208

.

Ninth
90
North Amer. 200
Oriental*.... 190

416"

170
Leather Mfr. 210
Liberty
310
Lincoln
775

.

19th Ward*.. 100

....

Atk.
m*.

Sprague

185

Irving

Mech A Tra*
Mercantile
Merch Kxch.
Merchants'

H
lUt.

otati

157H

105
500
135
800
Elepublic
Riverside*... 210
Seaboard .... 375
Second
550
160
Seventh
Shoe A Le'th 100
325
State*

Hanover
736
Hide A L'ath 180

Home*

lOC

Scherm'rh'n* 150
17th Ward*. 115

Phenii

Germania*... 300
Greenwich*.. 165
Hamilton*... 185

42
103
100
155
600
460
170
81
110

123
86
106

Bid.

Qu

300
140

Prod Exch*.

1500

Garfield

180
25
05
90

Banks.
Brokers'

Plaza*

3250

German Am* 115
German Bx*. 235

otatio

New Amst.*. 575
New York Co ISOO
N Y Nat Bx. 118
New York
250 370

Peoples'*

uw

14th Street*. 145
Fourth...... 178
Gallatin
400
Gansevoort*.

Mt Morns*.
Mutual*
Nassau*

Ask.

Bid.

Qu

Paciflo*

Continental ri8
Corn Exch*.. 375H
Bast River. l30
nth Ward*. 150
Fifth Ave*.. 3800
Fifth
ias
First

Banks.

Park

City
2000
Colonial*.... 240
Columbia*... 190

Commerce..

37

Westlngh Air Brake. .50 f.i04
JC5
WisconCentral ia—See St ockBj lUt.

Brokers'

N. Y. CITY.
America* .... 440

....

Alfc._

.

Broken' Qu otatt

Chatham

|

Pneum.HorseCoIK.l t
54
Wagner Pal. Ca,T—Ste 3i k Exch

|

Chase

Bid.

U.S.

Chain.

Preferred.

Banks.

8d preferred

100
S Glass— Common.. 100
Preferred
100
U S Projectile Co
100

U

Trenton Pottr-Com..l00
Preferred
lOO

A

f

Preferred
63
Union Typewr—Com.lOO
37>i 38U
1st preferred
100 114
115J4

Trow Directory-New. 100
Union Steel

£ MI8CELU8,
t 36
fiO t 61

AAO

188
47

96
75

085^
•}*%
88
80
93
0245 192
90
96H
August. aThese are option salef,

Mlgcellane ouB« Pgr.
Union Switch A Signal. SO

.

Ist 68
Pacific Coal. 100
Ist 68 1908
Title Guar A Trust.. 100

80

Preferred
Peck, Stow A Wilcox.. 25
Pegamoid, pref
100
Pennsylvania Coal
50

.

Due

Texas A

72
25

....
e2)i
29>»
Preferred
83
Russell AErwin
.25 t 66
Safely Car Heat A Lt.lOO 153
Schwarzchild A Sulzb.lOO
30
Semet-Solvay deb 5s.
101
Simmons H'rdw-Com.lOO 180
Preferred
loo 140
Singer Mfg Co
100 540
Standard Oil of N J.. 100 468
Stand Und'rg'd Cable. 100

98

1

Term Wareh— Stock.. 100

70

400

Sale
Sale

81

SuBq Coal tts 1911. ...J&J
Tennessee Copper

SO

35

H

64V< Nov'99
98^
0654 156
76«ft Oct.'99
8:i% 167
81^

Sale

consecutive pages).— ^^JV!^^

5

4154

Otis Elevator— Com

. .

7

35

28H
87h

.

RoyBakPowpf

96^

tr 8..

Mlscellaneoua. Par

•

National Saw— Pref.. 100
"44'
National Salt
Preferred.
78
National Surety
i 00
National Tube
40
Preferred
95
National Wall Paper, ioo
65
N. B. Elec. Veh.Trans.
7
N Y Loan A Imp
100
50
N Y Biscuit 68 1011. MAS 114
New Jer Zinc A Iron.. 100
N. Y. El. Veh. Transp .100
Nicholsou File Co
50
80
Nicaragua Construct. 100
Nlles Tool Wrks. com. 100 105'
Preferred
loo 122

Phil A Wll Steamboat. 50
Pittsburg Brewing

MetrWSEKChic)
Ore Sh L ctfs dep coll

ibo

Gramophone. ... 100

.

tr ctfs....
68 tr ctfs.
ist 48 1938

Ask

25
t 20
t 60
105
105

Pr-ferred
Nat'l

Atch Col & Pao 6s
Atch J Co & West

112
112
StLIM&Sonew30y48 (wl)
90
90
Wise Can 1st 48 (wi)
July *""®***y- '°"*« *•""• "Bond* due January.
'

Oct.'99

and asked this week,

Rubber Goods Mfg.

list.

Preferred
Internat Silver— See Stk.

Do
Do

90
10
34

100
105
8

International Blevat.lOO
International Navig ..100
Interuat. Paper— See St'k
Bonds- See Stock Exch.
Internal'l

6
18

S
S
S
S
S

S.

Small

. .

22

Pref
leotric Boat

Brie

76i6

65
'

Diamond Match Co. .100
Co. of America.

325
80

73
340

Common— See St.Fx. list

Distill.

78^

66
80

Ohesebrongh Mfg Co. 100
Claflln (HB)-l8tpref.lOO
Sd preferred
100

Oon Kan C Smelt & Ref .25
Oonsol Rolling Stock. 100
Cramps' Sh A En Bldg.lOO

A8>

14

41.

S

105
97

113

93

-J

J

.M-N
J -J •!:3«

.

sine*

Jan.

M-N

STATB SBCURITIBS.
103^ 1031^ Alabama— Class A 4 to 5.1908 J-J
Small
Class B 58
1006 J-J
Class C 48
1006 J-J
23%
Currency funding 4s.. .1020 J -J
17W
iC8« no
Dist of Columbia— 3-658.1924 F-A
Louisiana— New con 48..1014 J-J

15

Nov'99
May'97
May'97

113
90

80

'

.

II

UNLISTED BONDS.

103

latest bid

t

U
U
U
O
O

99^ 101

rkllTCinC SECURITIES (Given at
<JUibiP£ CE-OliDl-ric-o //-I
poot of
Preferred

U

•100

58.1918
191f
See
Un,

Bliss

.

6s deferred certfs

Met TiT Istsf g
Registered

Bid.

U.
US
US
US
US

U S

Apr '97

107
80
95

•

•

Jan.'99

iOH*

107H
108>4

35M 94H
•• II t««
75« 92H

'

Mlsoellaneous. Par,

1875-1900
1884-1900
Registered
1884-1900
Col trust cur 58
1038
Mut Un Tel sf'd 68... 1911
Northwestern Tel 7fl. .'04
Istg 58.'19

Debenture 78..

WhLB&PCCo

103
102

86

.

•No price Friday; these are

.

Registered

in-J^
1039^ 10394

.

1910
111 Steel Co deb 5b
Non-con V deben 5s... 191
Iron Steamboat Co 68. .. 1901

131

Runye

Ask Low. High. No

Bid.

D
01
J-J
J-D
F-A
J^t
M-N
M-N
M-N
M-N

in.=.

104

1039<
1039^

Dee. 8.

F-A

De Bare & ICogug 68. "10
US EnvelCo I8t8fg6s 1018
D 8 Leatb Co s f deb i?68 '13
Vermont Mar Ist s t 5s.l910
West Union deb 78. 1875-00

nm

J-J
;'nW&WHl8tg 58.1945 F-A 78 Sale 78
'Vs*
CahOoalMln. SeeTCI&R.
hlo Jo A StYd col g 58.1915 J-J
109XFeb'97
Non-onm. incomes 58.1907 J-J
Olearf Bit Coal. SeeNYCAH
Ool C <t I Ist con g 88. 1900 F-A 100«
lOQ\i
lOOJi
OolO&I DevCogug58..1909 J-J
Coupon off
Ool Fuel Co gen gold 68.1919 M-N 100
105 J'ly'99
Ool F 4 I Co gen » f g 5s. 1943 F-A
91
95
93>4
93^;
Com Cable Co 1st g 4s... 2397 Q-J
103H Aug'99
Begiitered
2397 Q-J
104 Feb.'98
DeBardel C&I. See TC&I.
•liHCan. See RR bonds
DetM&M Id gr3H8 8 A.1911 A-O 801^ Sale 20)^ 22
rl«T & T ool tr g 8 f 5s. 1 926 J-J
109 Oct.'99
Or Blv Coal 4 C 1st g 6s. 1919 A-O
95HJan.'97
Hack Wat Reor Ist g 58. 1 926 J-J
Hand B Co Ist sfg 6s.. .1931 M-8
113 Nov' 09
Hoboken L & I g Ss
1910 M-N
Ist g 6s. 1942

.

109M
107H

DS.

g 48. 1 948

WeeK's
Range or
Last Sale.

Friday,

S!5>

Coal Istg sf 6B..1912
Tenn Coal TDivlstgSs.1017
Birm Dlv Ist con 68... 1017
Cah C M Co l8t gu g 6b..'22

I08H 118
107^
104^ 107^

107 Aug'99
103J4 Oct.'99
101 Mar'98

5

1946
1946

8s..

SunCk

Dec '98

i'ii"
iVi"
111>< Apr'H9
104H Oct.'99

Price

ST3
I*

M-N
Prop Co Istg 4J<B 5-20 yr'17 J-D
S Yuba Wat Co con g 68. .'?,3 J-J
Sp Val Wat Works Ist 68. '06 M-S
Stan

106H 111

109K Apr'99
106^ Nov'99

1'87

5.

'

Rope AT Istg
Income g 5s

10

10796

107X

•••••

102

m Cot Oil deb g Ss. 1900 Qu-F
AmDk&Imp58. SeeCenNJ
Am Spirits Mfg 1st g 6b. 1915 M-S
"DarASCarCo

Sale

M-S
M-S
J-J 111 Sale
J-D 108H
J-J
M-N 109
M-S
M-N

1947
1947

118H Aug'99

117

Procter & Gamb Istg 68.. '40
Roch& Pit C& I pur m Ss 946
8t L Ter Cupples Station &

97H

•••••t •••••
•••••t ••••••

Small bonds
1919 Q-Ft
Mnt Fuel Gas Co See PeopGas
P«o Qas&C Ist gug6a.. 1904 M-N
8d gtd g68
1904 J-D
Itt oonsol g 68
1943 A-O
Registered

97

94M

Kings Co Bl L &P. See Edison.
Laoaas-LCoof 8tLl8tg58'19 Q-F*

R«nindlng gSs

NoWestnTeleg. SeeWest.Un.
Paorla Wat Co g 68.. 1889-1

•••«fl ti«»«(

1997
1939

.

1.

Low High

ffo.

KlmisCoEl L&Pg6B.'37
PurchaBe

BONDS.
N. Y. STOCK EXOHANOE
Week Ending Dec. 8.

since

Last Sale.

Page

(5 pages)

3=

Range

Ask. Low. High.

Bid.
Bl

Week's

Range or

PEICES

tieo
375

161

350
800
423

450
••
•

•

160

MortonTrust t4ai
y L 1 « Tr 1435
.V Y Sec A Tr 700
Sorth Amer.
155
Produce Ex.
190
Heal Est Tr't 300
:jtandardTr't 810
iiate Trust.. 400
Tr.Co.of Am. uia 330
^nion Trusi. 1400 1440
U 8 Mtg A Tr. 535 655
Unit. States.

165C

t

Washington

BR'KLYN.
Brooklyn Tr. 410
Flatbush .... 160
Franklin .... 310
Hamilton.... 280
Kings Co
345
L Isi L. & Tr. S3
Manatact'rs. 310
'Nassau

170
196

188

338
WliUamsb'gh 300

210

''eople's

asterisk (•) are State banks,
i Purchaser also pays
t Sale at Stock Bxoh. or at auction this we«k.

t Price per sharet.

THE CHRONICLE.

1188

[Vol. LXIX.

Boston, Philadelohia and Baltimore Stock Exchanges— A Daily and Yearly Record.
Sbare Prices— Not Per Oeatam Prices.
Sales
Monday,

Saturday,

Dec.

Dec. 5,

Dec. 4.

Dee. 2.

258

353

851

104

2S3 352
•103M 105

104

253
108

103M 103

241

»SM1

351

•241

341

.,.,

130
37
45
120

t

"si"
•44

44H

120

«

'36^6

2e«

13M

13)4

26?<

•18

•36

44

n9H

129
37
41
120

188
•36
44

26« 26%

13H •13

13%

•93

353

57H 55M 56^
76M *75% 7594

307
57H 68

258

101

77H
il%
16%

•

10 1-16 10)^

29^ 29^
15^
40
50M
76^ 77)4
40% 41
16% 16H

•ISH

120!^
26;^
13

120
86

12%

207

307

67^

67%
96%
9% 10% 9% 9
28% i9 3-l6
15
10
14%
49
49^ 49%
76% 76% 76
U'^
40^ 40%
16
16% 16%
96>«

35
93

93

93H

93

93

93

36
79

36

79%

35% 85%
78% 79%

3V«

8

3%

3%

•••

.

55% 55« 55%
76^ •75%

37
79

38
80

t.

•36
•43

93

93% 93H

3H

lOX
11-16
155*

96%

128
37
44

79HS
3

35
78

3

3

3

345

348

346

IH

356

352

347

348

350

15€

144

29

161

IBl

141
29

'

29% 29%

i"ei"

I'eT

41H 41K

47H 47H
*ii% i5% •44)^ 44%
'65%

1

63

65

•

36

66

43
66

144

*

43%
66%

BAILROADS.— Price*
Atl & Charlotte (Bait) 100
Bo« & Maine pf. Bost) IOC
(

Boston &PTOT.
Central Mass.
Pref
Mich.
Chlo &
.

.

W

OoimAPaesum
Conn Blwr..,.

"

"
"

"
"
"

rilut

...

• t

50
50

"

& PereM.( Bost) 100

"
100
Fref.
Os 8onth& Fla.(Balt)100
"
100
"
100
2d pref
S"Tmant'n Pas8(Phil) 50
50
&T "
Heatonv
50
Pref
"
50
Hunt* Broad T
"
50
Pref
"
100
inds Street
iBt pref

M

Ft8&M..(Bost)100

"
100
tittle 8chuylk.(Phil) 50
Maine Central. (Bo8t)100
Minehili &8H.(PhU) 50
50
Mesqnehon'gV. "
50
North Penn.... "
"
PMliBrte
50
50
PhUQ«rm&N, "
"
100
United N J
50
CnltedTrofP. "
Pref
50
West End pref. (Bost) 50
'We8tJer&8 8.(PhU) 50
"
50
Pa.
Wests
Wis Cent, new. (Bo8t)100
"
100
Pref

Pref

27
66
30
80

17
'

• • *

• • •

•

• • • •

WOT Nash 4 R.

"

100

25

An er. aement^(Phil)
(Bost) 25
Arcadian
"
25
Arnold Mining.
"
25
Atlantic Mln'g.
"
25
Baltic Mining..
Steell.... (Phil) 60
Beth
Ooston BleoLt.( Bost) 100
Cwnbrla Iron,. (Phil) 50
(Bait) 100
OanlonCo
Osnten Mining. (Bost) 25
"
26
esntral on
Con. Lake Sup. (Phil) 50
"
Pref
....
50
"
60
TIaylight Prism.
. , ,

10
Olam State St 1 "
Domln Coal pf.( Bost) 100

"
100
of Ami. (Phil) 60

Bdison El

meo Co

111...

)nankUnMlu'g.(B0Bt) 25
"
100
Bsneral Elect..
"
100
Pref
««dB] Auto-Ml(Phll) 50
"
10
Breger Mfg....
Ind-Bgyp Com7(Bost)100

IntBntHASM

"
"
IileUoyalel....
Idanufac Rub,. (Phil)
"
Pref

MarsdenCoT..

"

60
50

100

Merit enthaier ( Bost) 100
Idez Telephone "
10
. .

Old Col Mining. "
Osceola Mining. "
Palmetto Co. ... ( PhU)
Parrott8il&Cop(Bo8t)

it^

86
25
85

5

70
"3*7%

10

"
"

Phil Electric

ir..

••••

Santa Ysabel

Tidewater St. (Phil) 10
Torrin«ton"A"(Bost) 35
"
Pref.
35

18
50

69
170
60
53

20
60
175*

82

54%
104H
28

276
115
61

5%
19
54
130

**6*

30
55

2%
8%
27%
6

23
21
13

178
44

38

6%
3*1%

175

41%

85% 88
20% 31
80
aOH
18%

135%
189

33^

1918

6s

J&D

W

18%
31

30

33%
34%
*3*3%

88%
81i4

60

i

i

§
•

98
93
89
93

I'o'a*'

1*1*4"

95
100
93
90

DGR&Wl8t4s.'46 A&O

§
§

Domln Coal l8t6s.'13M&S

i

§111% lis"

M 6b g.'06 M&S
V

8l8t5Bg.'25

18
3
3';%

K C Ft 8&G iBt 78.'08 J&D
K C F 8&Mcon 6b.'28M&N
K C M & B 1st 4s..'34 M&8

3%

,

E C& M Ry&B 5s.'29 A&O
K C St Jo & C B 7b.'07 J&J
L Rock&F 8 l8t78.'06 J&
LB&StLlBt68K.'26A&0
2d M 5-6 g.... 1936 A&O
MarH&Ont68...'25 A&O

§

89

{111
§105
}

94%
142*
Too"

90
'I'o'e**

96
50

49
{105
{118

Vio"

«

106

1114

"7*4%
48 g.. 1911 J&J
con Ino 38 g non-cum '3*3%
2d con Ino 3b non-cum..
fa"

MexCent

209

A&O
A&O
A&O

let

7 380
4

9
4

350
310

1

Jan.

Jane 37
116% May

149% Feb. 18

1

Nov.

9

Oct. 87

31%

13.523
6,570
8

16
36

383

90

178
868

44%
33%

7

Jan.
Dec.

Apr.
Feb.
Feb.
July

23
77

Deo.

6
7

Jan.

3

45
98

July 28 45
Sept. 36 84
3% July 381 4%
300
1% July 11
3%
8,174 273 Jan.
8 38«
7,367
4% Nov. 9 14%
56,876 123% Jan. 4 186
398 110% Jan. 16 132
6,940 12% Nov. 10 19%
616 362 Jan. 7 398
945 60 Sept. 15| 108
69 835 Jan. 6 895

1% Jan.

8,371
1,778

50%

Dec.

6, 38

33

18%

Jan.
Jan.
Feb.
Jan.
Jan.
Dae.

75

Au{.

}.

596

78%
10,630 46%
23%
359 39%
390
535

9%

Aug. 35
Aug. 31
Oct.
6
Apr. 81
tlar. 30
Mar. 30

Sept.

7
7
3

63

3 130

8

74%

Oct, 37
Apr. a

3

45

May

3

45%
28%
83^
15%

4

33
Mar. 39
July 35
Aug. 30
May 34
July 14

613 101% July 11 107
133 Jan. 4 156
5,5*73

25

2-

127% Jan.

5

36

865

36%

50(

39
05

6:

.S
Jan.
Feb. 16
4
Jan.

May

Apr. 35
Apr. 6
Apr. 8

175
55

31

5

Sept.

53%
33%

8

21% May
I'.o'll

Dec.

15,389

5

Apr. 85
Apr. 38
Feb. 21
Sept. 25
Mar. 18
Apr. S

35%
71%

8

Oct.

1

38
81
31
11

Oct. 11
Sept. 11

3,301

Mar. 30

60% Apr.
63% June

8

12
Aug. 36

70

{100
{

, ,

Income 6s
1920
••
Rutland Ist 6s.. '02 M&N {105
Torrington Ist Ss 1918,

15

•

106%

M&N {103
1914 M&S {111
1916 M&N {106

St 5s. .'02

103
118
103

Ext & Imp 68.1901M&S
No BaltDi V 58. 1 942J&D

••••••

117
103
180

115
113
115

WestVaC&Plsteg.'llJ&J
WU & Weld Ss. .1935 J&J

Bonds— Philadelphia

Vy Eeit 7sl910A&O 187% 139%
tr ctfs
88%
Atl City Ist SBg..'19 M&N
111%
Balls Ter Ist 5s. 9 26 J&D ioo" 101
B Boro Gas 1st 5s.'38M&Alle

102%

" ••*

Cambrialron 68.1917J&J
Che8&DCanlst58.'16J&J
ChocOk&Ggen 5s'19J&J
Cit's'St Ry(Ind)con 5s.'33
Colum 8t Ry 1 st con S8.'32
Con Trac of NJ l8t5B..'33

114

& B Bk

F&A

1st 7s.'05
East&A Ist 5s.'20
Edison Elec Ss stk tr ctfs.
Elec& Peop's Tr stk tr ctfs

Blm&Wilm

M

107*' i"09"

104%
109%

M&N

Istes.'lO

118

88%

Ga &AlalBtpf5Bl945A&0
QaCar&NlstSs g. 1 929J&J
GeorglaPl8t5-68 1922J&J
GaSo&Fla lst5s.l945J&J
KnoxvTrac IstSa '28A&0
Lake R El l8tgu5s'42M&8
Maryland Brewing 6b .,,.
MetSt( Wash 1 st 58'2SFA
New Orl Gas IbI 5s..,Var
Norfolk St iBt 5s '44. J&J
NorthCent4%8. 1925 A&O

Income Sb... .2862 A&O 108
Eq
GaB-L Istg 5s.l928 109
Hestonv M & F con 5s.'24
H& B Top con 5b.'25 A tO 107%

Ry

Indianapolis

104

A&O

A

100
114
116
117

Consol 6b

100%
115
118
118

110% 111%
100% 101
121

109
103

109%

48..

1933

&

Bieo income.

4b
Vlrg Mid iBt 68.1908
2d series 68 .. 1 9 1 1

108

112%

104

88%

108
'•%••

102

103

•

••)

111
120
119
112
104
114
110

1933

Annuity 6b

J&D
J&D

101

87

t

• » >

*•••*

90

85% 86%

117
134
• *

NYPhil&Norl8t4s '39J&J
Income 4s...lU39 M&N

No Penn Ist
Gen M 78

48.. '36

M&N

1903 J&J
Penn gen 68 r...l910 Var
Consol 6s c... 1905 Var
Consol 58 r
1919 Var

Pa & N Y Can

7s..'06

Cons 5b
Cons 4s

J&D

1939
1939

People's Tr tr oertB 4s.'43
PhUa Elec gold trust ctfs

•

••

80
• • •

••

• • • I (

126
116
137
.

-

.

.

••••
••••!
•

,

•

106

93
.

•

•

•

107%
100
119
108

M 7s.. 1911 J&C

137

A&O
Gen M lag.. 1920 A&O
Ph & Read 2d 68.'33 A&O
Con M68g...l911 J&I
Bxt Imp M48 g.'17 A&C
Con M of '82 48.'37 Ji.

108% 104
104
138

Terminal 58 g. 1941 U-F
P Wil & Bait 48.1917 A&O
Collattrust 48.1 921 J&J
Pitts

••!

105

113%

6g.'20

Ph&Br gen M
Consol

71% 72
88% 89%

M&S no
M&S 116%
3d series 6s.. 1916 M&S 115
4th ser 3-4-58.1921M&S 109
5th series 58.1926 M&S 110%

Va (State) 3b new.'32J&J
Fund debt2-38. 1 9 9 1 J &J
ya&Tenn3d5s.l900J&J
1900J&J
8s

114

New'kCoaGa8 58'48J&D
Newark Pass con 5s.l930

A&O
123% 134%
A&O
Penn Steel lst5B.'17 M&N
86

PotomVal l8t58.1941J&J
105
SecAvTn( Pitts) 58'34J &D
Sav F]a& West 6s '34 A&O
Beab & Roan 58.1926 J&J 108%
United By

9(5%
134

J&J

m

U9"

106

88 1900
68 gold 1900
J&J
68 1904
J&J
Series
Ss 1926... .J&J
Series B 5s 1926.... J&J
Pitt Un Trac 58.1997 J&J

1*0*5"

105

.

CharlC&A ext58.1910J&J
Chesap Gas 68.. 1900 J&D
Clty&Sub lBt5s.l922J&D
Col&Qrnvl8t5-6.1917J&J
Consol Gas 68..1910J&D
Ss
1930 J&D

)

no

Asphalt Co 5s

Del

BaltCPa8l8t58.1911M&N
Bait Fundg 5s. 19 16 M&N
Exchange 3%8.1930J&J 113
Balt&Ohio 48g.l935 A&O
Statlsl2d 5g.l926 J&J
Balt&Pl8t6sml 1911A&0

A sk

Bid.

1

.

Ist 68 tunnel 1911..J&J
Bal Trac Ist 58.1929M&N

BONDS
Baltimore— Conclu'd.
WestN C con 68.1914 J&J

K C Sub B iBt «8..'20 J&D
101%
K C P & G l8t Sb..'23 A&O
Lehigh Nav 4%8..'14 Q-J 113
BR4sg
54% "8*'
1914 Q-F
117
7
Gen M4%8g.. 1924 Q-F 101
116
<***••
Leh V C'l Ist 58 g.'33 J&J 100%
38
38%
104% 105% Leh Val ext 4s. 1948 J&D 115
108% ChaBRyG&E158'99M&S 88% 99
3d 7b
§102
1910 M&8 13«%

Ch Bur & Q 48.1922 F&A §100
Iowa Dlv 4s. 1919 A&O §101
Chicago June 58.1915 J&J §113
Ch&NoM gu58.'31M&N § 93
Chi &
M gen58.'21 J&D
Con. of Verm't 58.'13 J&J
Curr't Riv 1st 58.'27 A&O

Highest.

212 139% Jan. 3 154% May 18
25 124 Jan. 12 138 Aug. 5
35 29% Jan. 3 43% Aug. 35
331 43% Jan. 14 49 July 8
110 107 Jan. 3 135 Nov. 17
3,149 23% June 1 30 Msr. 9
400
5% Jan. 7 17% Apr. 37
100 90 Jan. 21 96 Feb. 8
9,635 42% Jan.
7 57% Aug. 34
6 74
Oct. 10 81% Jan. 86
40 198 Jan. 4 313 May 17
1,756 61
Jan.
3 70 Jan. 83
603 94% Jan. 3 100% June 30
6,815
9% Dec. 8 12% Jan. 34
8,985 25 13-l«Jan.7| 34 Mar. 23
635 13 7-16Jan H 18% Mar. 29
4,661 38% June 30 51% Deo. 2
1.930 72% June 1 81
Jan. 33

Conv'rtible5sl906M&N
Cent Ohio 4%8 g. '30 M&S
Central Ry68...1912J&J
Consol 5s,,,, 1932 M&N
Ext & Imp 58.! «32M&8
Chas City Rylst 5s '33J&J

.

Ch Bur& N Ist 5s.'26 A&O

A&O

1907

6s

West End
4%a
Deb 48

10

1 98
Adjustment g 4s.. 1995 1 81
Boston Term'l 3%8.. 1947 alls
Bos Un Gas 1st Ss. '39 J&J 1 81
1939 J&J {
2d M5s
Bur& Mo Rlv ex'pt 68. J&J Il24
68. '18 J&J |l08
Non-exempt
1910 J&J §100
Plain Is

Income 5s

"*13*

3

Bonds— Boston.
J&J
A T&S F gen g 48 '95 A&O

Am BeilTel4s..l908

2dM

38

3

33
24

1
USPHorseColirfPhli)
Utah Mining (Bost) 4-85
Warwickl &S.(Phil) 10
Welsbach Comt " 100
"
PrefU
100
50
Westm rel Coal "
WluonaMlning(Bost) 35
Wolverine Mln. "
25

KCC&

15m

4

307

25

25
25

1st 68 '33 end §110
Unst'p'd Ist 68.'33
§188
IlUn Steel conv Ss.'lO J&J {103
Debenture 5g. 1 9 1 3
{

3%
4%
27%

Mach..

Pref...

Fr Klk&M

"5%

12

Un Shoe

"
"
"

30
29

327

Ask.

5% N Y&N Eng iBt 7s.'05 J&J «116% 116%
latmort6s.. ..1905 J&J an
70%
112%
Ogd & L C con 68.'20 A&O

East'n Ist

5

118
308
14
16
126
138

DnCopL&M'g

*1*2%

Bid.

.

.

..,,
.,,.

35
25
25

(Boston).... 100
"
....100
"
....100
"
.... 25

BONDS

•

Susquel
Tamarack Min.(Bost) 35 308

..,

Mar.

80% Jan.

81 170 Jan.
8,837 124% Jan.

(Bait.) ....100

Bonds— Baltimore.
Anacostia & Pot
i"60*'
58
148
Atl & Ch Ist 78.1907 J&J
3
-5% AtlG-Lightlst58l917J&D
5
Atl Coaet L ctfs Ss J&D
7%
4% 4% Bait Beit Ist 5b. 1 990M&N

5
5

179 845
1,182

paid) (Phlla.)
,

6%

Rhode IslMin.. (Bost) 25

. , , . •

Hecla

Boston— Concluded,
New Eng Tele 6s.'99 A&O

95

...

"
&Sir,,(Phll)

(Boston)
"
"

Aab.

113

100

Sales in 1899

II

....

G

&

"
....100
(Phlla.) 6 paid

(Phlla.) ..,. 50
Massachusetts Electric Cos. (Boston),,.. 100
Preferred
"
.100
National Electric
.(Phila )12%pald
New Eng. Cotton Yarn, pref. (B<)ston).,.. 100
New England Telephone....
"
....100
"
Old Dominion Copper U
.... 25
Pa. Mfg. Light & Powerl... (Phlla.).... 50
United Gas Improvement T..
"
.... 50
United States Oil
(Boston).... 25
Welsbach LightT
(Phila.) ....
5
Westingh. Electric & Mfg... (Boston)..., 50
"
Preferred
,.,,50
Lowest Is ez dividend

9

50
50

"
"
"

Pref
Pennsyl Salt...
Pennsyl Steen.
PrefU

*

78

10

25

Bid.

Qulncy Mining (Bost) 35
Kys Co General! ( Phil)

60

39
48
43
67

a 28 7-16 88 3-16

•••

35

M18CBLLANK0UB.

i^Jlonez Minlng(Bo8t)

•

•

'

Y&

43

PennBlecVeh.(PhU) 50

57

45

46%

(

70

1*6*0"

37

MISCELL.— Concluded.
NewHavI&SHtPhll) 5
No Am G Dredg Bost) 1

Lowest.

.

1*0*4%

141
26

157"

STOCKS BONDS

300

i%

25

8.

<

39%
63%

10

77

•

41
87

Calumet

19

75

A(k

176

100 2'<!9
16
100
100
100
100 161
100 870

i3oiiBO!TrPittBlI(Phll)

PrefU

Bid.
Dec.
••

19

46% 47
'

& Montana
Butte&Boston

105% 106 Erie Telephone.
56% 59% FederalSteel
•38
39 Lamson Store Service
•14
41% Lehigh Coal* Navigation...

38%

'.

,

Boston

20% 21% Cambria Steel. ($1-50
50% 52% Consolidated aas
47% 48>4 Dominion Coal

l'59% i'5*9%

87

.

Preferred T
Asphalt Co of America

14

304
68
740

896
65
735

35%

35

159% 159 109
41H 37% 40%

44^

44
66

144
27

Bid and aikedprloes. DO sale wa- made.

-ACTIVE STOCKS

KC

1695i
40>i

48

47),i

*

144
83

37

S/tares

345
303

13%

104% •104% 104% 101% 101%

104^ 104>i 104>i 104

Range of

Railroad Stocks.

•U8% 119%

"

104

of the
Week.

Indicates unlisted.

(Boston).... 100
"
....100
,
Boston & Lowell
"
....100
Boston & Maine
208% 303
"
....100
132% 130% 131% Chic. Burl. & Qulnoy
"
....100
•116
118% Chic. Juno. & Un. Stock Yds.
145
"
....100
•128
138% Preferred
128
"
....100
35% 35% Choctaw Oklahoma & Qulf.. (PhUa.^... 50
37
44
Preferred
"
43% 44
.... 50
130
130
130
Fitchburg, pref
(Boston).... 100
36
35% 36 Lehigh Valley
(Phlla.) .... 50
12^ •18% 12i Mexican Central
(Boston) .... 1 00
,
•93% 94 Northern Central
(Bait.) .... 50
58% 54% 66% Northern Pacific
(Phlla.) ....100
•75% 75% Preferred
"
76%
..,.100
307 •807 208 Old Colony
(Boston).... 100
67% 66% 67% Pennsylvania
(Phlla.).... 50
96% Philadelphia Traction
96% 96
"
.... 50
15-16 9% 9 13-16 Reading Company
"
.... 50
28% 28 9-16 Ist preferred
"
.... 50
14% 14 13-18
"
3d preferred
,.., 50
SO
Dnlon Pacific
50% 49
(Boston),... 100
76% Preferred
"
76% 76
....100
40% 39% 40% Union Traction
(Phlla.),.,. 50
16% 16% 16% United By & Klec. Co. (w. 1.) (Bait.)
35
Preferred (when issued)..
"
"93'* 93"
93
WestBnd Street
(Boston).... 50
[yilscellaneous Stocks.
•33
35 Amer. Agricnl. Chemical. ...(Boston), ...100
30
78
78
"
Preferred
78%
,,..100
•3
3
3% American Alkali
(Phlla.).... 50
•1%
"
10 paid
1% Preferred
346 34:% American Bell Telephone... (Boston).,.. 100
317
5% 5% American Railways
5%
(Phlla.)
paid
149% American Sugar Refining If ( Boston ) .... 1
15 3% 145

6
5% 5%
6% 6%
5%
6ii
6?i
153% 155% 151 153% 149% 152% 151%
119W 119 11914 119 119^ 119 U9M 119% 119^
14
14
14
liH ii% 14H 14% 18% 14% 14
310 330
333 322
303 307%
820 323
399% 310
78
72
67
n2% 75
72%
67
78
69% 69%
765 770
770 770
770 775
737% 785
735 740
23% 21« 21% 20% 31% 21
31%
23« 22^ 22
53
5'i% 5394
52« 52^ 51
50% 51%
49
5391 53
52% 52% 49^ 52% 48% 49% 49
108
107
107
108 108
108 108
107% 106% 107
62^ 62^ 61M 6SH 60
em 59% 60'4 •37%
69%
89
....... 38%
38%
38%
38%
'44" 44
•41
41
44
44
41% •44" 44% 44
•18
19
*IS% ^9%
1S% 1S% 18% 19
18% 18%
•78
T7% 75% 77
76
77
77
78
77
78J4

6H

156
119

8.

203

•341

•341

IT

_
Boston & Albany
101% Boston Elevated

853

•76

307
671,4
67
96% 96

307

207
67

Dec.

101% 103

•350

108)i

•98

56
•76

67% 681^
96^ 96H 9m
10« lOJi 10^
39« 11-16 29H
•16« 15«
1596
61« 51)< 50%
77H 77^ 76%
4l« 41
•i9% 16%
leM

•37
»79J<

•120
26

14
93

92l<

307

207

347

•

92«

57^ 57H
T^H 77H

807

180
37

Friday,

Dec. 7.

6.

•S08M aOSHi 303H 2osii 203^ 803M 303!^ 803^ 303%
13SH 134H 188% 134»i 131% 133X ISIM 133M 132
146
147 147
146^ 146 146
147 147
•36
45

ACTIVE STOCKS.

Wednesday Thursday,

Tuesday,

C&StL 78. 1900 F&A

Read Co gen

48,

1997 J&J

Rochester Rycon 58.1930
SohREStdelstSs g'35J&D
Scran Trac 1 st 6s '32M&N
Seat& S F Ry & Nav Ist Ss
Union Term'l Ist 5s.F&A
United N J 4b. .1944 M&8
UnTracPltts gen6s'97J&J

110

103%

86% 86%
108
110
"e'o'

114

lAnd

Interest.
t^l'SU paid.
•Price includes overdue conpo

J

December

THE CHRONICLE.

9, 1899.]

1189
Latest Gross Earnings.

Jan. 1

to

Latest Date.

Roads.

WeekorMo
AND

K.O.Mem.<kBlr. 4th wk Nov
Kan.C. N. W.... October
Kan. City &Om, 4thwk Nov
.

K. C.Pitts.

AG. 4thwkMay

Kan.C.Sub.Belt
L.Erie & West
Lehigh & Hud..
Lehigh Val. RR.
Leh. V. Coal Co.
Lex'gton&East.

RAILROAD EARNINGS.

The following table shows the gross earnings of every
Steam railroad from which regular weekly or monthly returns can be obtained. The first two columns of figures LonglslandRR.
give tlie gross earnings for the latest week or month, and Long Is. System.
Los Ang. Term.
the last two columns the earnings for the period from Janu- Louls.Ev.&St.L.
Lou.H. ASt.L..
ary 1 to and including such latest week or month.
The returns of the street railways are brought together separately on a subsequent page.
Latest Gross Earnings.

Jan. 1

to

Latest Date.

Roads.

WeekorMo,
September

Adirondack
,

k.

1899.

22,152
53,864
78,539

Gt. South..

4thwkNov

Midland. . .

Septembei

1898.

20,371
45,775
95,015

1898.

1899.

1,804,326'

165,061
1,586,300

612,973

e45,564

153,064

.N.O.&Tex. Pao. JTino.
H on. & N. E 2d wk Nov
Ala. & Vlcksb. 2d wk Nov
Vloks. 8b.& P. 2d wk Nov

33,000
31.000 1,422,660 1,217,909
648,663
562,727
21,000
16,000
14,000
573,504
581,166
14,000
Allegheny Val. October
289,609 241.119 2,632,495 2,211,473
42,882
Ann Arbor
4th wk Nov
39,070 1,473,636 1,328,393
10,822
10,215
88,998
79,262
Ark. Midland... September
4,453,485 3,995,267 34,608,678 31,980,293
Atoh.T. &8.Fe. iOctober
Char. iSeptembei
Atlanta&
201,604 145,338 1,628,535 1,261,822
Atl.Knox.&No. iQctober...
39,612
328,255
263,297
32,203
Atl.CetLlneS.C June
158,791
135.912 1.027,820 1.001,334
& W. P. September
Atlanta
454,882
59,931
52,301
417,926
At.Vald'Bta&W. October...
101,098
16,493
5,673
Anstln&N'weei September
16.954
18,982
49,9-5
Atl. & Danville. July
365,831
323,236
42,627
Bait. A Ohio.... October... 2.910,522 2,504,175 24,881,031 23,514,577
Bal.&O.Sou'w. 4tbwkNov 187,228 164,507 6,302,770 6,509,049
Bath&Ham'nde October...
30,906
27,118
10,561
9,642
Blr. A Atlantic .June.
10,136
12,880
1,315
1,585
BmnBw'k&West September
64,632
492,452
456,719
56,618
Bnff.Rocb.&Pltt Jthwk Nov 123.865 102,212 3,714,075 3,522,874
Buffalo &8u8q.. October
82,696
649,581
549,000
80,063
Bur.O. Bap.A N. ithwk Nov
131,954 113,363 4,539,363 4,138,518
OftnadlanFaolflc ithwk Nov
887,0 JO 758,000 26,223,415,23,467,859
OenLof Georgia 4thwk Nov lf^^5,083 185,558 5,217,124 5,060,159
Central N. E...|october ...
68,168
527.993
597.458
62,593
Oentrskl of W. J.. 'October
1,443,536 1,24 5,053 12,311,182 10,329,431
Central Paolhc. September 1.878.827 1,493,976 13,237,872 11,658,334
Oharlest'n&Sav September
40,468
616,986
517,867
44,457
Otaattan'ga So.. 3d wk Nov
2,247
72,399
61,763
1.246
Ohes. AiOhio.... 4th wk Nov
351,832 288,155 11,314,090 10,868,503
Ohio. Bur. <!eQ... October... 4.816,612 4,634,208 37,750,042 35,556,305
Ohio. (bKast.Ill. ItbwkNov
101,433
91,276 4,414,746 3,918,690
Ohio. Gt. Weet'D 4th wk Nov
155,053 133.661 5,822,576 5.084,257
Ohio. Ind. &L.. 4th wk Nov
101.398
75,749 3,516,870 3,044,457
Chlc.MU.&St.P 4th wk Nov 1,174,054 994,01)9 36,971,228 32,585,449
OhlC&N'thWn. October.. 4,270,022 3,676,663 34,440,567 30,503,230
Ohlo.Peo.&8t.L. October
92,756
768,604
701,593
79.719
Ohlo.R'kI.&P.. October
2,367,734 2,181,858 18,743,396 17,772,645
Obio.St.P.M.&O. October... 1,144,724 1,173,931 8,694,520 7,554,042
Ohlo.Ter.Tr.RR. 4th wk Nov
30,496
26,853 1,142,335 1.074,449
Ohio. AW.Mloh. 4thwk Nov
57,713
43,079 2,063,680 1,801,279
Ohoo.Ok.&Gulf. October... *135,000 *123,00t *1,458,006 1,255.643
Oln.G.&Ports'th August
7,473
44,757
38,975
5,912
01n.N.O.&T.P. 3 J wk Nov
99,413 109,914
Oin.Porte.&Vlr. Nov'mber.
31,689
300,065
261,288
27,697
0L01n.0h.&8t.i. 4thwkNov 447,090 384.493 14,096,318 13,330.100
Feo.&East'n. October... 210,187 173,870 1,674,488 1,560,350
OLLor.A Wheel. IthwkNov
54,555
41,704
Ool. Midland.... O. tober...
197,339 157,810 1,465,402 1,347,681
Colorado &8o.. 2d wk Nov
93,020
Ool.Band'y<feH. 4thwkNov
28,411
762,732
791,613
20,029
Crystal
August
480
9,653
7,395
1,165
Oumb'l'd Vallep September
99.023
647.039
679.824
89.087
Oenv. & Rio Gr 4th wk Nov 278,7o0 247,700 8,813.213 7,907,727
Det.G.Rao.&W. 4th wk Nov
37,50.5
35,126 1,487,9.=)5 1,388,227
I>et.& Mackinac October
51,757
612,238
448,150
33,935
DnluthS.S.&Ati 4th wk Nov
62,084
37,179 2,203,569 1,663 061
SlglnJoi.&East. October...
166,021
148,916 1,486,443; 1,266,608
rie
October... 3,489,190 3,116.148 30,2 28,099 27,119.078
Jtureka Springs. September
7,620
42,747
6,437
49,033i
£v»nB.(JttInd'pll8 4thwkNov
8,815
292,644
314.282
7.699
Byanfiv.&T.H. 4th wk Nov
38,479
27,891 1,254,481 1,152,209
Find. Ft.W.&W. October
12,160
74,382
98,379
7.645
VUnt&F.Marq. 4thwk Nov
86,252
72,380 3,035.351 2,781,965
Fla.Cent.& Pen. 3d wk Nov
54,355
49,161 2,353,601 2.688,968
It.Wth<StDen.C. 3d wk Nov
41,850
58,807 1.419,093 1,324,324
FtW.&Rlo Gr. 4th wk Nov
14,936
494,009
443,079
20.555
Bade. A Att. U. October
1,677
9,904
5,976
625
Georgia RR
4th wk Nov
40,536
46,888 1,461.585 1,437.772
OeorKlaA Ala.. October... 115.195 119,226 1,028,964 1.021,188
Geo. So. & Fla. October...
101,521
843.566
806,024
85,734
GUa Val. G.& N. October
30,335
336,652
Gr.&ap. &Ind..ijune
206,192 162,581 1,134,075
973.566
01n.B.&Ft.W. June
41,799
214,327
232,756
36,985
Traverse City. June
3,805
19,628
22,939
3,322
BIUB.O.R.&I. June
10,699
56,787
58,088
10,481
amines. July.
Tot
279,683 247,858 1,726,240 1,513.467
Gr.Tr'nk Syst'm 4th wk Nov 743,074 620,i+58 23,914,359 21,915.100
OMc.&Gr.Tr. 3d wk Nov
82,343
72,975 3,417,137 3,'213,987
DetGr.H.&M. 3d wk Nov
23,730
838,441
18,566
893,987
Great North'n—
Bt.P. M. &M. Nov'mber. 2,309,345 2,171,071 19,760,316 17,981,673
East of Minn. Nov'mber. 422,701 382,256 2,961,119 2,410,730
Montana Cent Vov'mber.l 214,139 166.583 1,830,242 l,8i;4,346
Tot.system Nov'mber. 2,946,185 2,719,909 24,531,677 22,216,749
GnXB'nmt&K.O Nov'mber.
23,550
166.549
14,136
257,250
Gulf & Chicago. September!
5.728
4,544
Golf & Ship Isl. September
158.546
225.606
Hooking Valley. ituwk Nov 105,116
75,860 3,196,010 2,454,344
Hoos.Tan.&Wll. September;
5,581
5.455
42,894
40,404
H0OB.&Tez.Cen August.
306,499 254,202 2,191,304
minols Central. Nov'mber. 2,769,589 2,563,^49 27,223. ir,5 25,069,689
63,83.")
Ind.Deo.&We8t. August.
378,309
347,699
58.688
Ind.Ill.&luwa. September
86,802
639,149
71,844
755,266
|ii.*Ot.Morth'n. 4th wk Nov
139,526 149,470 3,616,679 3,548,602
Ilnieroo. (Mex.) WbNov.18
83,700
67,050 3,423,900 2,824,990
Iowa Central... 4th wk Nov
55,826
54,004 2,083,751 1,8.^0,839
Iron Ball way... October...
6,101
50,643
41,143
4,339
Kanaw'a&MloD 4thwkNov, 17.773
620,968
523,500
14,087
K.O.r.8oott&M. !4thwk Nov 153,4751 118,330 4.751.901 4,361.643
.

.

. .

i

.

.

.

.

.

. .

I

I

I

|

.

October

...

4thwk Nov
Nov'mber.
October...

October

. .

October,..

Nov'mber.
Nov'mber.
October ...

4th wk Nov
4th wk Nov
Loulsv.&Nashv. 4th wk Nov
Macon &Blrm.. October...

Manlstlque

October
IMexlcan Cent, 4th wk Nov
{Mex.Cuern &P. July
Mexican Inter" 1, September
(Mex. National 4tliwkNov
Mex. Northern. September
tMexloanR'way WkNov.18
Mexican So
3d wk Nov
Midland Term'i. September
Mtnneap.& St.L. 4th wk Nov
. .

M.8t.P.&S.8t.M. Ithwk J<ov

Mo. Kan. &Tex. 4thwk Nov
Mo.Pao.&IronM 4th wk Nov
Central Br' oh.
Total
Mobile & Ohio..
Mont.&Mex.G'f.
Na8h.Ch.&8t.L.

4thwk Nov
4th wk

Nov

Nov'mber

October
Nov'mber.
NevadaCentral September
. .

1899.

Northe8'n(Ga.).
North'n Central
North'n Paolflo.
Ohio River
Om.Kan. C.&Is.
Omaha & St. L.

September
October...

Ithwk Nov

IthwkNov
Nov'mber.
Nov'mber.

Oreg.RR.&Nav. 4th wk Aug
Oreg. Sh. Line..
Pao. Coast Co.
PaciflcMall....
Pennsylvania^.

October

...

October...

October

.

October...

PeorlaDeo.&Ev. 4thwk Nov
Phlla.<fe Erie... September
Phlla.&Read... October

Coal&

Ir.

Co. October...

Tot. both Go's. October..

WUm. & B,

October...

Pitts. C.C.&St.L.
Pitts. Be8.&L.£.

October ...
4th wk Nov

Phil.

Pltts.Lisb.&Wn October
Pitts. AWes'n..
Pitts. Cl.<feToi.
Pitts. Pa.
F.

&

4thwk Nov
4thwk Nov

4thwkNov

Total system. 4thwk Nov
Rlch.Fr'ksb&P. October...
Rio Grande Jot. September
RioGrande So'd 4th wk Nov
Rio Gr'de West 3d wk Nov
Sag. Tuso. & H, October ...

St.Jos.&Gr.L. 4thwkNov
8t.L.CM.<feSt.P, October
. .

8t.L.Ken'et& So October...
St.L.&SanFran, 4th wk Nov
St. L. Southwest. 4thwkNov
8t.Paul<6Dal.. October
San.Ant.<feA.

P September

SanFran.&N.P October
S. FePres.&Ph, ithwk Nov
Sav.Fla.&West, September
Sher.Shrev.&So 1th wk Oct
Sll.Sprs.O.
So.

AG

Haven& E.

.

September
October

.

1899.

1898.

1,392,094

1.306,360
279.579
227,168
1,304,218
433.862
3,164,247
3 52,798
16,219.119
13,007,571
206,123
4,278,652
4,551,222
76,023
1,424,211
447.492
20,760,097
47,856
89,958
12,196,347

$
40,646
42,365
3i,484
29,988
5,037
6,238
96.335
81,636
48.000
50,550
115,513
86,564
36.489
40,797
2,228.767 2,333,3 <;f
2.396,214 2,198,756
29,208
23,983
319,143 318,973
326,856 328, .598
8,862
6,820
40,254
46,470
14,120
16,271
766,905 623,559
7,560
7,418
6,543
4,214
423,362 391,703
25,000
357,011 271,379
193,305
180,130
58,837
58,307
75,000
86,700
13,280
13,895
34,034
68,997
54,23
71,504
127,661
152,709
365,727 341,534
896,000 819,000
23,00
44,000
940,000 842,000
6431,30^6572,000
107,091
102,067
506,332
523,697
2.683
1.955

N.Y.C.&H.R.. Nov'mber 4,795,493
N.Y.Ont.<feW.. 4th wk Nov
N. Y.Susq. <fe W. October...
Norfolk (fewest. 4th wk Nov

1898.

4,275,74.'

280,776
214,701
1.498,659
443.221
3.518,715
438,468
17,696,235
15,100,721
210,664
4,201,915
4,509.374
100,730
1,640,424
550,142
23,614,161
53,981
70,834
14,042,145
253,671
3,413,647 2.48"6'854
6.405,152 5,679,402
602,192
448.362
3,999,400 3,632,900
665,284
581,257
434,889
325,089
2,581,632 2,027,018
4,297,258 3,956,310
11,130.573 10,720.432
25,467,551 24,251,969
1,145,377 1,193,268
26,612,928 25,445,231
c5.C'04,C'53 e3,9iO,651
1,077,101 1,201,449
5,590,092 5,386,456
17,915
33,133
46,537,796 42,172,891
4,451,809 3,540,894
2,119,117 1,875,540
11,623,^60 10,313,357
49,792
48,012
5.841,971 5,406,871
26,010,359 24,290,415
1,082,127
882,247

111,429
236.03
287,340
6.530
669,907
842,342
18,807
32,515
39,015
151,773 4,248,963
804,571 6,550,423
483,923 4,234,449
357,326 3,076.707
6,976,278 6.001.778 .39,437,884
21,67'.;
24,833
803,207
528,816 484.248 3.698,387
2,517,143 2,214,018 20,046.571
3 389,460 2 342,42^ 22,574,205
5,906,603 4,556,440 42,620,776
991,981
885.281 8,727.287
1,739,726 l,595,72b 14,736,881
47,051
34,272 1,680,336
4,570
39,458
4,671
48,904 1,789,182
51,550
27,994
29,071
950,978
11,001
9,265
391,281
91,622
86,163 3,137,197
76.902
774,965
67,011
3-i,2!-3
45.623
308,727
14,233
454,897
15,578
70.400 3,378,862
96,500
=
13.129
16,98
119,452
32.643
33.176 1,260,527
34,934
32.68^
298,024
11,900
9,372
78,427
199.859 199,538 6,940,54
183.000 5,228,623
184.300
229,064
192,201 1,581,681
265,992 303,699
92,667
94,755
806i319
21,618
19,939
821,134
326,671
347.950 2,872,751
13,184
18,243
284,604
241,8823,052
28.854
4.80C
4,053
38,699

133.533
239,845
346,870
5.861
772,407
874,176
26,985
39,398
41.209
165,460
842,841
502,495
340,61g

4,362,852
5,664,215
4,496,173
3,761,232
54,040.584
743.798
3.198,471
17.902,903
16,817,529
34,720,432
8,102,487
13,280,495
1,227,712
38,259
1,647,118
986,746
356,412
2,995,055
709,626
281,120
434,682
2,925,476
116,123
1,123,327
282.015
58,166
6,383,419
5,014,168
1,350,408

732,014
749,981
3,166,230
273,895
210.190
29,863

So. Paoltlc Oo.-

Gal.Har.& &.A September
Louis' a. West September
Morgan'sL&T. September
N.Y.T. &Mex September
Tex. AN. on. September
Atl. Prop'tes.a September
So. Pao. of Cal September
So.Pao.ofAriz September
So.Pac.ofN.M September
Paoltio system September
Total of aU.6 October
Southern Ry.c. 4th wk Nov
StonyCl.&C.Mt September
Texas Central.. 3d wk Nov

Texas&Pacmo. 4th wk Nov
Tex.8.V.&N.W October
T01.& Ohio Cent 4thwkNov
Tol.P. &West.. 4thwkNov
Tol.St.L.&K.C. 4thwk Nov
Dnlon Pac. RR. October
4thwk Nov
Wabash
,

W.Jersey&Sea'e October...
W.V.Cen.&Pltte October...

WestVa.& Pitts. August
W^estem of Ala. September
West.N.Y.&Pa. Ithwk Nov
Wheel. & L. Erie 4thwk Nov
Clev. C.

Total

& So.

4th wk

Nov

4thwk Nov

4thwkNov

Wis (jonsln Cent,
Wrightsv.&Ten, October...

603,281
500.384 4,346,786
110.859 108.035 1,022,269
574,840 481.907 4.85^,545
31,201
38.049
202.805
158,563
156,154 1,401,292
1.528,044 1,330,472
1,592.977 1,245,275 11,762 930
2 2 0,08
285,167
2,521,12
155,421
112.759 1,431,042
4,290,293 3,443,006
6.069,841 5,007,45 19.853.279
80:1.471
731,893 25,464,000
4,500
4,42S
36.76^
12,512
15,663
293,931
286.526
304,466 7,389,84
12,500
10,500
59,159
51,241 1,827,332
23,037
939.343
23,140
50,881
56,101 1,807,82
2,507,431 2,237,301 17,750.564
426.763 361,655 14,210,402
220,330 201,830 2,718 321
113,236
90,90p 1,072,061
33,644
33,318
226,877
60,277
494,180
68,717
108,900
87.900 3,366,597
43,068 1,553,316
49,788
21,042
19,644
70,830
62,712 dl,817662
134,851
94,9:0 5,053,320
17,956
11,240
119,650
623,223 584,353
8,2.=>3
7,660
70.054

3,884,298
926,703
4,625,211
242.602
1,267,698
10.664,916
2,291,909
1,164,042
44,615,172
22,943,290
33,398
333,882
7,072,486

1,693,113
894,205
1,933,458
15,843,115
12,571,113
2,349,521
ii63,137

248,284
457,404
2,840,412
1,352,248

d 1.578896
4,510,162
73,109

Yazoo&MissVal Nov'mber.
61,293
York Houthem. October...
b In
a Includes earnings from ferries, etc., not given separately,
eludes the PacUle system and the Atlantic properties, but not the HousThese tigures Include South Carolina A
ton A Texas Central system, c
Georgia after May 1 and Atlanta & Danville after September 1 in both
years, d Includes Clev. Canton & Southern from Aug. 16 only, e Results on Montgomery Division are Included in 1899, but not for 1898,
'Figures for October are for the raUroad only.
Chicago
t Includes Chesapeake &. Ohio So' western, Ohio Valley and
and Texas for both years. Results on Yazoo Branch excl uded In
1899 but Included In 1898 until July 1.
%OotX Mexican currency.
ers results of fines directly operated east of Pittsburg.

THE CHRONICLE

1190

Latest Gross Earuings by Weeks.— The latest weekly earnings in the foregoing are separately summed up as follows:
For the fo\irth week of November our preliminary statement covers 68 roads and shows 13 54 per cent increase in the

aggregate over the same week

Gross Earnings-

1898.

5=;5,021
4,098,0';3

170,fifi5

170.136

1,075.983

1,177,640

Catskill Mt. Ky.—
July 1 to Sect. 30....

37,695

39.176

21.88t

Central New Eng. ...Oct.
Jan.
to Oet. 31....

68. '68
597.4-^8

6 '.593

22.765
2=^434

.'^27.993

Julyl to Oct. 31

257 606

223.361

16 26'»
^A^ 633
50 431

Roads.

9

Increase.

Decrease.

9

Alal)ama Gt. Southern.
Ann Albor
Bait. & Ohio Southwest.
Buffalo Roch. & Ftttsb'c.
Burl. Ced. Rax). & North
Canadian Paolflo

131.954
887.000
16=>.083

Chesapeake^ & Ohio

753.000
186. 58^

129.00('

Centra] of Georsrla

351.832
101,433

28M55

63 610.157
21 39

2i 6*9

Ch ospr *

"u"'

T"lno-

53,864

4 2.882
187.228
123,86.=^

8,089
3.812
22, '2
21.65
18,691

45.77.5

S9

07<'

164,fi0
10;i,21

Ohio. Great Western
Ohle.lDdlai 'lis & Loulsv

155.0=>3
101. >9'-

91.2 t
133 661
"6.749

.

1.174 054
3o,49e
57.713

994,0t!W
26.W 3

43.079
384.493
41,704
20 02H
2.7.70

20,505

14,6H4
62.'^ 97
12.851
8,3S
31 O

rt!

Seorgla
c»rand Trunk.

Ohlc & Grand Tru
loii

H &

Gd

Iowa

.

•tentTHi.
. .

Kan. City Ft. s. a Mem..
Kan. City Mem. <fe Blrm.
KnnBas City <te Omaha
Lake Erie & Western
Loaiev. Bvransv.
Louisville Hend.

& Nash

& St. T
& St. L

743.074

Iflnneapolls & St. Louis
Minn. St. P. & S. Ste. M
Mo. Kansas & Texas
Mo. Paclllo, Iron Mc.

Central Branoii
N. Y. Ontario & Western
Horfolk <te Western...

ll,93ti

1,

139,526
55 8.6
17.773
153.473

Evan,s.

1

."^.filP

6,352

4A36

29,25

9 944
"l.8 2

14 08

3.6-'
35, 4.'i

5,0i

1,7.

115 513

6.238
86.56

4ri,47<;

4ii,2o4

621

14 12

2,15

16,271

b05
423,i«2
180,130
71.504
152.709

365727
896,0(10
44 001
133..^3^
346.8 "0

1.201

28.949

625,5'>^

141

391,703
193.30
54 237
127 66
341 53
819.00

13,175
17,26
25.0.8

2-2. UH
5i53

31.838.17

Wheellntr <fe Latte KHp.
Clevel'd Canton & So.
Wleconsin Central.....

Total (68 -oadsi ..
Netlncrease 13-54 n.o

32.«48

I4.<;d3
33.1 7^

199 859
184 300

199 538
1 3 00(1

21,618
80 .471

19.939
731,89

2->6.5ie

30* 46b

59.15
25,140
50.88

51.241

361 655
87,9<0

43 068

«,72

19rt 4

134 851

— Penn
&

Wabash.
West N. Y.

15578

108.9 ••'
49,788
2 042

i.

34.27^
86 16<

426 763

Pittsburg & Western.
Rio Grande Southern
8t. Joseph di Gd. Islauo
St. Louis <& San Pran
Bt. Louis South we^tftrn
Santa Fe Pr. & Phoenix
Southern Railway
Texas & Paoidr
Toledo & Ohio Central...
Toledo Peoria a Abbi
Toledo St. L. & Kan. Clt^

21.o7i^

4 ,051
91,622

94

1, 9
39,891

I

3,161
12. 7-

5,459
1,

4.'^

M

I

toOct. 31

&T H

...

Oct.

216,998
1,879 850

168,862
1 5, 44
1,3.'^>'.913

35,289
lv-4,3 6
)3-^.i50

July 1 to Oct. 31....
£16,209
Foi da Jobiiht & Gloversv.
July 1 to Sept. .<0
96,186

Pt.W.&

l.t>79

November.

17,940

»

65,10

1,627,7? 2
1,5(7 243

Increase.

$
1,116 792

•25.696

10,699,350

9,634,511

Total (77 'oads)

Net increase 11*05

49,16
67,0 SO
10 932
75.O00
13,895

5,1

80 489

month

1899.

Decrease.
H

$
gross earnings (95 roads) ]56, 221 ,409 50,777,414
It will

the

296795

27 9,4 33

2^.387
IV 1,495
112,911
442,493

14.<»S3

9.765
46,610
49.218
210,090

58,144
50 008
234.494

82,377

59 116

37.905
28,002

39,521

00

358,757

272,<

4 '.140

20,663
22., 3-^0
1.137. '39

3,0' 2.461 2 466 737
770,418
24,463,566 22,'0.5.''40 7,522,46i 6.6'". -57
July 1 to Oct. ;il
10.": 48,631
9,275,421 3,413,^68 2 637,797
Kanawna <V Mlei>.b..3ct.
^^6,1 89
54.478
17,238
18.209
Jan 1 to Met. .91 ...
55M.4HO
47'',fr00
li:2 I- 4
129.466
July 1 to O. t. 31 ...
liJb,75a
206,027
£5,369
6, 9 43
Lehigh A Hudson. b—
July 1 t(i Sep'.3'>....
1 1 5 473
90.933
55 6«0
4? 855
Jan. 1 to Sept. 30 ..
339,144
253,090
1)0!- 73
167.688
Lexlrig'n & Ra,«t.b.. Oct.
23.983
99,208
8,714
10.756
210.6fi4
J. n, 1 to Oct. yi
7H,822
206,123
78.411
July 1 to Ocr. 1
10c.3i22
90.981
41.411
4 .484
Mez*oan Centra)
41
849 1 ,'2- 6,907
Oct.
47^,596
449 364
Jan. 1 to Oct. 31
12 6^9 13 10,971,7 1 4.< 39,869 3.372 164
Mrtxloan National... Oct,
634,199
575.561 C3I7.P16 « 310,908
Ian. 1 to Oct. 31.
5.&21.'74 5,126,8~7 c2, 800,036 c'...39( 9e9
Mexican Telepiione..Oct.
13,3 9
11.196
6,422
4.943
Mar. 1 to Oct. 31....
10 .8bl
SI 6^4
42,452
35 ViZ
Nash ( h. * St l..h..Oct.
690,471
540,763
211.483
223.424
Jan 1 to Oct. 31.... 5C6«,395 4.8>-0.l24 1,558,7 2 1. 80,244
July 1 to Oct. 31.... 2,181,114 2.l44,4u4
774 850
85b,924
N. Y. AOttawa.luly
to Sept. ?0....
37.';4
19.928
12.237
def. 1.550
Jan. 1 to Sept. 30....
73.116
?8,432 def 9.4 83
dfcf.78
Norfolk A West'ii.a.. Oct. 1,204,948 107 .157
491.476
400 304
Jan 1 to Oi't. 1 .. 10..''lo.50< 9.3s4,5 9 ,''.<>;-i7 Irt 2,>.« 4 346
Julylto Oct. 31
4 623.fc71 3,t)00,ti32 1,825,517 l,338.t07
Illinois ('enttai,ii...Oct
.Tan 1 rn Oc .3i

AO

85.254

....

.

^.

1.238
3,151

1,726
1,153,859

(all

as yet)

1898.

1,26'=',442

3o 3^5
336.^52

1

89,(.

20

that have fur-

show aggregate

:

Month, of Noveviber.

34,825
38 814

1,183,390

M

1.061,83.4

nished statements for the full
results as follows

38,808
5 '.253

1.294.2C6

1

615

.

15 663
17.074

For the month of November 95 roads

131,703
l4l 735

340,^18
357,H'6
1,822.175 2,288.553
dloh Fred. & Pot.. .Oct.
7«.90i
67.011
to Ort 31.
774.9 5
Jan
709,626
Julyl to Oct 31
292 7 90
5:64,538
3 '6.09
4-28 163
•«lo Grande **-K
i,..Oct.
Jan. 1 to Opt. HI
3 14', 62 2.74 '.3U1
July 1 to Oct. 31 .. 1,5(4, \i l,18d,-242
St. JoB.iSzGd In .a... Oct.
133,2 7
139,373
Jan. 1 to Oct. .4
1,(. 9.641 1,01-,^. 707
July 1 to (.icc
5.1,413
439,851
229,0>4
192.201
St.Paul &Duluih.a..Oct.
Jan, 1 to Oft 31
1.5 1 6^1 1,36* ,408
6r2 812
Julj 1 to Oct. 31 ..
781,881
]9t.746
Toledo
< eii'.b..Oot.
168,9 9
Jan. 1 to Oct. 31 .. 1, 39. bl 1.518 113
73 ,743
644 9^7
July 1 to Oct. 31....
Jnlon Pac. R> a ... Oct, 2.." 07.431 2.237,301
17.7.-i0,6o4 lri.84.Sll5
Ian. 1 to Oct. 31
7.456.4b2
July 1 to Oct. 31 . 8,5 '3,01
<^ahasti.b.
Oct. 1.674 196 1,313,1-6
1... 12,7s 9.' 45 l)..-.'8 663
Jan. 1 to Oct
July 1 to Oct. 31 ... 5,808 175 4.964.278
29k,939
37i.9 1
West.N.'V.APenii.b .Oct.
3,039 497 2.544,950
Jan. 1 to Oct. 31
1,441,299 l,14o.s35
July to Oct. 31
249,921
Wheel. & Lake Erie.. Oct.
1':.956
Oct.
11,240
Wrijihisv A Tenn
1)9.6
73, 09
Jan. 1 to Oct. 31
57.071
32,040
July 1 to Oci. 6i
59.'^,849
349.058
Yazoo & Miss. Val a.. Oct.
l,720,0dl 1,299,156
July 1 to Oct. 31

"4

16 650
361
11,700

l.i.24l

c

3ts2.l64

17f>.^58

1

p.

1,614.375

175.,"506

.. ...Oct.
Paoiht- Mall.
May 1 to Oct. 31 ...

196

<j'

581

61.4?5
419,461

202,5^6

1

21.'

9.344,299

i

f^l.'26

2^i0

I

5.220

Previously rep'd (68r'ds) 10,375,837
Ohio Term, rausr^r
25.^92
Fla. Cent. * Peninsular.
5 .35=>
Interooeamc (Mex.)
83,700
Lonisv. U^^ud.
11 29 >
ni. L.
> 6.700
Mexican Railway
13-280
MexloaD Southern
16 4 9
Ban. Fe Pi esoott & Phx.
12512
Texas Central
Toledo Peoria & West'n.
19,300

.•«

fi^.652
64-', 402

Ogdensh & L Champlain bOily
to Sept, 3o
183.040
201.218
61,446
56.061
Jan 1 to Sept.3<'
4b5.»70
10e,-0l
509,105
li 0,617
1.'='2.69
PaoiUo f-oasl Co a... Oct.
502 498
483 923
92 707
Jan 1 to Oct. -1 ... 4.2 4 449 4496.173 1,179,239 1,03 .033
Deo 1 to Oct. 31 ... 4.142.886 4.8'6.0dO 1,246, 9i44 1,111,485

7,918
2.(03

96>^

1898.

1899.

6 .^SO, 66
4.7;ll.«59

.

76.5 f

For the third week of November our final statement covers
77 roads, and shows 11"05 per cent increase in the aggregate
over the same week last year.
of

5,177.-2.53

78.217
9 "''.029

6 '.Oil
247,223

Dei'.<;i v.a.-Oot.
.Ian. 1 to Oct HI

I

3d week

1.004.960
6,84.'^ ,2 9

1'5,-«14

1

1.3

56.101

.

533

""321

2J.(»t7

12,972,590 11.425,347

Oct.

«

•

21.00

24.8 >3

L. Erie...

2,3«7,'34

l^^^8.

1

77 o

18 807

Mloh

...Oct.

1«»»

.

24.19.

11 1.429
287.34"
842.3 2

2698^

3<

31,6 >

23.*)

.

Gila Val.Globe & .Vo. Oct.
Jan, 1 to Oct 31 ...

122.1 6

li8.3.1t
40,ti4H

W

July

13,871

4

&

I

I

149,47
.14,01

& Pac.a

...

W

l".f^8>

75,He:0

8 4,176

Northern Pacitlo
Ohio River
Peoria Deo. & Evansv.

&

620 958

8,><15

38.479
86.2 ='2

..

Olev.Lor. & Wheel.a.Oct.
'>et, Gr, Rap,<S
.«,Oot,
Jan
to Ocr. 31
Evans. & Indianap. Oct.

24 90

37.179
7.699
27 891
72 3^
20 ^55
46.888

to Oct. 31

Jan, 1 to Oct.

2,39

35.12»

62o81

7t 6

Mexican Central
Mexican National........

Plttsb. Bess.

Ul

105,1 If

& Gt. North'n

Kanawha <b Michigan

Lonlflv.

28.

278.70
37,50

:hic.

M,

Hocking Valley
Intern'l

54,555

40.536

Evanev. A Indianapolis
Evansv. & Torre Haute
Flint A Pere Marquette
ft. Worth & Rio Grande.

Det.

447 09

A No a. Oct.

2,mi,85<?
Jan. 1 to "ct. 31....1>.,74<,396 17,772,h«5
Apr. 1 to Oct 31. ...14.038,162 13.000.146
Ohio Term. TrHiisf b Oct.
l<>1.7t4
110,073
Jan. 1 to Ocr, rfl ... 1,0-4. 2t^4
971,fi95
July 1 to Ooi. 31
417 034
403.431
i^hle.R

lt>0 04
3.64-1

Ohlnaeo Mllw. & St. Paul
Chicago Term'l Trans
Chicago & W MloHiKan.
Ht. L
Ole-v. iJlD Ohio
Clev. Lorain & Wheel'g
Col. Sandusky & Hook'g
Denver A Rio Grande.
Det. 6d. Rap. & Western
Duluth So. Shore & At.

1

K.

$

I

I

ll?!.3f<3

-Net Eamings.-

1H98
$
49" 9'3
3.714.'; 09

l«99.

last year.

Jan.
1899.

LXIX.

once a month in these columns, and the latest statement of
this kind will be found in th« Chronicle of November 18,
1899.
The next will appear in the issue of December ^3, i899.

BnrL red.
Ath week of Nov.

[Vol.

hicrease.

5,443,995

Per Oeni.

a Net earninKS here fiven are

8 ,078
1,27 ,-4l
6.' 2.233

.^0-47

270 48
156 414
109,7

47

52
00
309,931
7 (.142
.

564.6-. 5

27U.237
1.18%? 5
7.b9,l0 4
3,90l,3u6
5 2 :4 1
I

3.«29,7'-5
l,72z,f-55

11 ,392
981,693
499. 71
77,707
9.170
36,7H6
20,660

'17 .472
*905.4-,,!l

30.013
2>'3

336

111.206
138,218
1,01 .723

4 7.9.'^ 4
44.292
2' 1 130
1U7,876
70.152
3i^4.i t9
226.391
59,414
461.902
i07.)jH
1

1.094.236
6,843,278
3.40b 104

S93 943
3.0 '2 064

l.<02.394
]04.«69
71 .3 '4

346.905
5.954
2i.o37
12.584

30O,t!70

78.-267

639.121

165.784

after doduotlni; tax^ea.

b Net earnlasrs here elver are before deduotlntr taxes.
c DeduotniKotlierexpeuditures tor repairs, replacremeuts and sreneral
exnensec, net income applicable to Interest dd bonds in October w»a
il42,03-.a>!a1n8i $171,575 last vear, and from January 1 10 October

10-72

be seen that there is a gain on the roads reporting in
of $5,443 995 or 10-73 per c6nt.

This is the result in M«^x,ioaD
$1,046,681.
doDait creaiefi (aooordlUK to tne company's method of keeping Ita
ttccounte) as equivalent to 80 cents in United States money- that la.
deprer- »tioTi beyond 20 per cent has already heen allowed for
* After OeductinK "reserve fund for repairs of Mteamers." balance In
Oct., 899, was 45,0h4, against $146,307, und from May I to Oct. 31,
$343.2/6. afrainat $730,7 31. The leserve fund for deprecl tiuxi and
geufial ana exiraordi ary re(>air8 of steamers has bO'-u increased to
the standard of the English companies, t, e., five per cent upon the
value of the steamers.
3). $1,284,515. against

amount

Net Earnings Uonthly to Latest Dates —The table following shows the gross and net earnings of Steam railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given

*74.749
*517,9o6
37,530
311.0 9
134,2 4 6

I

'

i

December

TBE CHKONK'LE.

9, 1899.]

Interest C'larires and Surplus.— The folio wing roads, in
addition to their gross and net earnings given in the fore
going, also report charges for interest, &c., with the surplus
or deficit above or below those charges.
Int., rentals, etc.
iMS-8
18i)9

,

$

Roads-

Ohio R.

I8l

APao

Apr 1 to Oct.
Ohlii * Wp81 Mlob
Jan

1

S'ZS.F.OO

Oct.

31

.

.Oct

to Oct. 31.

.

Clev. Loraln&Whpel.Oct.
Det Gi R«p
.Oct.
Jan. 1 to Oct. 31. ...

&W

Pt.

Worth & Den. C

.Oct.

Jan. 1 to Oct. 31
Kanawha & Mich.. .Oct.
July 1 to Oct 31..

Kaehv. Chat <*8t.L. Oct.
July 1 to Oct. 31....
Norfolk & Western... Oct.
July 1 to Oct. 31 ...
Bt.

J08.&Gr.

.Oct.

Isl'd.

2,257,500
34.927
350,473
23,460
17,794
172.870
34.520
285.800
11,934
44,230
135.620
542,461
190,4 -il
762,278
8,750

July 1 to Oct. 31....
Toledo & Ohio Ten. ..Oct.
July 1 to Oct. 31....

34 796
346.163
24,3"0
17.2S6
164,315
28 482
2bl.26i
11.231
43.H26
131,965
522.843
186.143
744,987
fS.aas

2^.333
39,223
166,043

40.157
161,826

r-Bal. of S'tlEarti's.^
>,^!-9.

$
327.430
2,292,007

00

35,'

•

it; 8.

$
682,460

615.599

S

2,439,8^2
24.320
2,
16.001
68,988
15,348
10 525
33.459
21,528
115. Ii8
123.925
def.6.518
13.658
77,49.i
det.13.20 »
5,304
6,97«
11,139
19,117
75,SR3
91,4^9
334,(81
232. <89
300.995
214.161
593, ^20
1,063,239
22,197
38.459
121,414
84 543
2,919.7?'3

.'=158

"3.147

'20..S74

*1<J9,409

*42,809

1191
Latest Gross Earnings.

Gross
Earnings.

Week or Ao

LondonSt. Ry. (Can.)
Lorain rtt Railway..
Lorain & Cleve
Lo- Anseles Fract.. ..

July
October..
October..
October..

Mass. Elec. Co '8
Metrop St Ry.(N.Y.)
Milw. Elec. Ry. & Lt.
aitreal Street Ry..

Nov'mber.

1898.

1899.
'•1

iJati. 1 to Latest Date,

$
10.809
6,248

056

9,196
7,632
13.98'

58223

39 716
81,338
7 .nti4i
133,183

6759
11.020

Nov'mber 3o0 130 277 49"

51,791
61.510
89,154

11120573

April
150,263 134,407
602,447
530.248
1,4(».'S 104 1,253.124
October... 145,878 133 6
Muscatine St. Ry
October...
5,350
5,-83
49 897
47.162
October...
7,007
NewburgSt. Ry
6, 9-20
76,275
73.837
i7
New London St Ry.. October
3,416
3,6
4»,308
49 529
New orleana City ... October... 106.478 98,t)02 1,127,411 1,092,192

M

. .

Newport News & Old

September
Pt. Ry. & Elco
Northern Ohio Tract. Ociober ...
Ogdensbnrg St. Ry.. October...
[August
Pater8' n Ry
Richmond Traction.. October ...
,

20,450

30,332

iO,'<16

1,836

19 171
271,229

1,89.5

38 820
14,748
10.729

36,.M9
13.573

17,0V7
245,950

3« 8=^5
Roxb'hCli. H.&Nor'ii May
8,89^
si'.isi
5,87>J
59,24H
Schu.?lkill Val. Trac. October .
5 252
54.237
340 «4 314,286
Scranton Railway .. October... 37.443 33.26
177 501
Staten Island Eleo .. [October... 15,113 14,771
177,441
Syracuse Rap.Tr Ry. 'Septembei
366 652 335,930
99,0S0 85.055
Toledo Traction.
iJuiy
Toronto Ry
[October... 111,465 99,65"
Twin City Rap Tran •Jotober... 229,210 186 8bO 2,075.189 1,783,307
Union (N. Bedford).. October... 17,0ii9 lb.020
U'.lted P. ATransp.. September 202,987 17^002
United Tract. (Pitts.) September 149.08.=S 135,884 1,245,592 1,135 880
198,160 177,064 1,316 ^-4 1,163 400
United Tract. (Prov.i [August
Ui'it Trac. (Reading) Nov'mber.
15,593 13,120 200.033
177,099
Wakefield* Stone.. (May
5,204
4,861
19,531
19,157
I

.

>

I

j

*

After allowing for other income received.

I

'

Northern Paciflo. — We give below the gross and net
earnings, Hxed charges, etc., of the Northern Pacific for
October and the four months to October 31

These flgures include results on Brooklyn Heights, Brooklyn Elevated and Nassau RR. for all period.', but the Kings County Elevated
is included only for Ociober and Novemb er.
* Strike in July 1899.
\ Strike during June, July and August, 1899.
a Figures for Oct., 1898, cover liue from Waukegan to Highland
Kark only; those forl899ooverentireline from Evanstontu Waukegan.
6 Abandonment of Camp Meade which was occupied by troops in
Oct., 1898, accounts for the decrease this year.
1

July
Oc<.. '99.

Oe<..'98.

d^

Oc^. 31, '99.

1 to

Oc«.31,'98

S

i£

4^

9M

July

1 to

3,049,318 11,439,966
J, 204, 12
5,021,437

9 9.=S1,372
4,252,750

-.
2,028.153 1.844,606 6.ai8,.=i29
Net earnings
241,1 >7 1,217,440
Taxe8,rental8,hel'm'tB,&c. 247,574

5,6"8,622
943,126

Gross earnings...
Operating expenses

3 368,

1,340,98

Net operating Income. 1,780,579

1,603,479

5,201,039

4,755,496

11,907

153,028

37,7o7

Mlsoellai eous income, not

imluding land
Net %7hC07Tl€,~~'

sales

81,664
'

Maln8\8tfm

——

- —

--

-

.

1,862,243
3^,169

Total

5,354,118
125,2?6

4,793,263
204.517

1.900,412

Proprietary Unes

l,615,3So
77,459
1.692,845

5.479,374

4,997,780

STREET RAILWAYS AND TRACTION COMPANIES.
The following table shows the gro^s earnings for the latest
period of all street railways from which we are able to obtain weekly or monthly returns. The arrangement of the
table is the same as that for the steam roads that is, the
tlrst two columns of figures give the gross earnings for the
latest week or month, and the last two coiumus the earnings
for the calendar year from January 1 to and including such
latest week or month.

—

STREET RAILWAYS AND TRACTION COMPANIES.
Latest Oross Earnings.

Gross

Week or Mo

1899.

October...

Earnings.

60,513
5,299
56.74 8

56,783
4.563

15,889

Amsterdam
Atlanta Ry.

Augusta

&

Ry

..

September

Power. October...

&

(Ga.) Ry.

September

Eleo

1

toLatestDale.

12,633

1898.

$

Albany Railway
St.

Jan.

July
Bay Cities Consol
Bmghamton St. Ry. October

1899.

1898.

9.91

fi

584.417
44.0 f
408,913

530,606
40,318

5fl9

48 625

49

13.612 12 r)96
138,856
135,077
32 9-7 274,2n,=. 270491
BriQKeport Traction September 33,6
Br'klyiiR p.Tr. Co.t. Nov'mber. 912.149 820,2.=>7 9,678,680 S,993,545
Chicago & Mil. Elec. October... a9,17n O3.303
Chicago Union Tract. Nov'mber. b08.83t) 563.710
October ... 14.982 12 954
126.269
101,200
Oln. & Miami Val
Cm. Newp. & Cov.... October... 65,083 60 606 592.276 574,138
1.75.V2 53'
2 3.-!0
19,657
City Elec. iRouie.Qa.) October...
146,424 148.28- X 961,861 1,127.166
Cleveland Electric.. August
11,432
9.977
103,539
90 070
Cleve. Painsv. & E... October...
Col. Sp'gs Rap.Trans. September 20,0.S8 I4,97e
Columbus St. Ry.(0.) September 74 980 61,778 575,696 568.365
Columbus (O ) Ry.... October ... 75,216
Denver City Tram.. October... 1('2,02^ 114 634
Detroit Citi'ns'St.Ry. 4tliwB Nov 34,399 30,588 1,241,927 1,087,764
ithwk Nov 13,11
Detroit Elec. Ry
10,556 413,256 361,722
Detroit Ft. Wayue &
4th wkSov
Belle Isle
5,649
4.654
192,116 167,786
21,9iK 18.201
October
Duluih St. Ry
192,081
174,58 7
Easton Consol. Elec. October ... 22,317 ........
12,332 11,076
Erie Electric Motor.. October
Harrisburg Traction. October... 625,416 636 507 261,963 253,010
Mohn wk II
Hei kimer
33,w53
3 993
ion&F'kfoitEl.Ry. October...
3,561
37,063
18 541 18,814 159.173
Hou.'-ton Klec. St. Ry. September
146,9^4
.

—

Roads.

$

Blnghamton
Jan.

1

St.

Brooklyn Heights. 1>—
July 1 to Sept. bO
Diiluth Street Ry....Oct.
Jan. 1 to Oct. 31
Julyl to Oct. 31....
New London St. Ry. Oct.
Jan. 1 to Oct. 31
July 1 to Oct. 31 ..
Rome City St. Ry
July 1 to Sept. 30....
••cranton Railway. ..Oct.
Jan. 1 to Oct. 31 ...
Julyl to Oct. 31....

. .

Internat'i TractionOctober... 112,967
Buffalo Ky

October
October

.

peus'n B'djie Ry.
Niag. Falls Whirlpool A; North'n...
Niag. Falls Park &
River
Nia. Falls & Susp'n
Bridge
."

October

October

1,664,931
18,201

174,587
78.058
3,627
49.529
28,425

985,652
9,479
89,433
43,521
701
17.619
13,672

2.009
37,443
340.784
151,936

2,135
33,261
314,286
135,276

19,335
169,505
79,8a2

17,213
156,400
70,782

385.486

339,669

186.122

162,714

.

. .

...

.

.

Lewlht'iiCiinn.Bdg. October ...
Interstate Consol. ol
October...
North AttU boro
Kingston City Ry
September
Knoxvilie Traction.. August
Lealgh Traction
October...
Lima Railway (Ohio) October
.

Int., rentals,

705,885
8,372
83,479
38,862

943
19,386
15,336
'

413

370

Toledo TractionJuly 1 to (Jct. 31.

101.977

101.387

Auiiual Reports.— The following

Railroads &
Volume 69—

Misceli.. Co.mpanies.

Page.
Gt. Southern Ry. (Li[n.).l('6H

lO'S
1080

<S

(,'lies.

&

1C09

Atlunlic

rtntnueiitto N. V. Ntock Eich ...ITl
902
Buffalo & Sugquelj.inna
1-62
Cincinnati Hamil'oti & Oavton
952
Cin. N. U.& Texas PaciBfi
'OiiH
Detroii ,.t Mackinac
Edison Elec. 11!. Co. of Boston. ..lOfiO
.

Georgia Southern & Florida
Great Northern

130,962
53,006

116,696
54,2z2

i

88,152

40 237

'80
3.5.

207
iR2

61,327

84,145

an index to

is

all

annual

reports of eteam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the Investors' and Street Railway Supplements.
This index does not include reports in to-day's Chronicle.

Bait,

12 914'
6.839
15,95b
8,9101
8 3'9
3-721
4 398'

14.354
6,444
17,243

1898.

ANNUAL REPORTS.

9.52
Baiitror & Aroostook
Boston Revere Bfach i- Lynn. ... Vo3
Brooklyn Ferry Co. of New \ ork.

407

Eamt.~>

1899.

$

American C(iramel....o;?itci«/ state. 1147
American Co'ton Oil
10u9, lol'i
loOO
American Soda Fountain
American T.vpe Founders
904
1145
AtlaLta Kcoxville & Northern

3,711

-Bat. of Net

$

Roads.

6,8i2
3,734
lB,585
-,653
1,161

2,S43

—

1898.

Vicksburg
American Air Power

340

die.

1899.

5.646

. .

October...

October

2,775,538
21,936
192.081
90.582
3,416
49.398
27.437

6.311
59,465

50,918

Interest Charges and Surplus.— The following Street
railways, in addition to their gross and net earnings given in
the foregoing, also report charges for interest, &c., with the
surplus or deficit above or below those charges.

.\labaiiia

44 813

. .

Buffalo Traction
Buff. Bl've ct Lan'r. October...
Butt. JiNiag Falls. October...
Butt'. & LocKpott .. October...
Buff. & L. F'gt Dpt. October...
Niag. Fall.s & Sus
.

$

b 297

12,596
135,077

Toledo TractionJuly 1 10 Oct. 31...

Alabama

Ry.

of Buffalo

$

$

13.612
138,856

to Oct. 31

.

St.

Rv-Oct.

.98.

-.9

1

.

:^

CrofStown

.

.

-"8

l^:'9

—

$

9,4 07

Street Railway Net Earnings.— The following table givei
the i-eturns of Street railway gross and net earnings received
this week.
In reporting these net earnings for the street
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 18, 1899.
The next will appear in the issue of December 23. 1899.
-Gross EarningsNet Earnings.

Ind.

9''2

951, 958

& Western
& Iowa

9i2

i:)ec.

l7id. 111.

9.>s

11J7
International Packing
Kansas City Ft. Scott .t Memphis. tl4ti
114*
Kansas City Memphis & Birm
«i)3
Maine Central
1008
Manhattan Rv
.

RaILUOADS & MISCELL. CO.'S)— Cofl.)
Volume HW—

Page.

Mergeiithaler Linotype
Minneapolis & St. Louis

New
New

Enii.

Cot. Yarn

Orleans

10)B

901.911

ofiiuil state'r.\009

& vortheastern

Ioo8

Oreyon h K. & Navigation
Oregon Short Line
Pacific Coast Co
Pennsylvania Co
Pittsburg Brewing (9 months)...
Portland

\.

Kumtord

Hullroan'.< Palace

Car

Reading Co

9iJl
li'07

1059
904
.li:«lJ

E"alls
654
905
balance sheet. 904

Klo (Jrande Western
Rutland KR
St. Joseph & Grand Island
St. Pail..t Diiluth

Savannah Klorula * Western

900.91.0

1007
902, JJoS

903
1059

Toledo .« Ohio Central
901
Trow Dir. Print & Bookb'd'g Co...l(/tO
U. S. Cast Iron Pipe & Fv. Co. .balance .ilieet S>;>t.3ii
1009
U. S. Flour Milling.ojficia!st«tem't.l010
vacks. Shreve. &, Pacific
1008

Street Railways.

Volume «&—
Boston Elevated

RR

Pao«.
1148

THE CHROJVICLE.

1192

Pittsburg Junction Railroad.
Report for the fiscal year em ed June 30, 1899. J
C
President Thomas M. Kir g sa} s
The loaded cars interchanged over Pittsburg Junction RR. with
:

Baltimore & Ohio and Pittsburg & Western roadB, and between those
roads and Pittsburg Junction road were 249, '61, as compared with
254,812 in the preceding year, a decrease of 5,051 cars interchanged
but the movement of cars local to Pittsburg Junction Railroad and
the rate adjustment of the j'ear required by the trafHo agreement of
the three companies so operated as to increase gross receipts $6,810.
As a result ot the liberal expenditures in the several years past for
betterments and repairs the roadway, tunnel, bridges, buildings and
river inclines on the line are in first-class condition. No renewal of
rail was necessary. 5,195 cross ties and 16 sets switch ties were used
;

in repairs.

In connection with the car trust agreements ment oned inlastreport
thti item of lease warrants, $616,000, appearing as a liability in
the balance sheet hereto appended, the Board has to state that it Is
advised that all the warrants for principal aad interest have been
taken up by or for the Baltimore & Ohio Company, and that your
company will shortly be relieved of all liability In this matter. The
quarterly payments which fell due January Ist and April Ist (as well
as that of July 1st, 1899,) were cared for by the Baltimore & O. RR.
Co. or its reorganizaition managerf.

and

The report

pernoits the following" comparison

Earnings—

$302,855

3,667
1,095

....$399,213

$392,402
184,691

$352,769
143.778

$202,538

$101,400

$101,400

4,806
19,693

6.166
19,258

$101,143
4.566
18,772

$126,847
Total
Surplus for dividends.*. $93,318

$125,899
$81,812

$126,824
$82,167

$124,481
$78,057

all the years. 7 p. c; on common
c; In 1898, 3 p. c; in 1 899, 4 p. c.
BALANCE SHEET JUNE 30, 1899,

Dividends on preferred stock in
p.

Assets—
Construction,

c; in 1897, 3

Liabilities

Equipment
Materials on hand
Stock of Pittsb. June.
Term. ' o
Pitts, J. Ter. Co. (adv 's)

Car equipment trust.
Agents

.

Freight balances
Sundry co'sand indiv..
Miscellaneous

Cash

(incl.

Total
V. fc9,

p.

$3, 552,066

etc...

88,052
5,577

200,000
24,625
648,750
20,138
57,649
22,506
8,981

cont. acc't).

81,254
$1 ,709,599

p.

—

Capital Stock— com.... $1,4 60.000
Capital Stock- pref....
480,000
E'irst mortgage bonds.. 1,440,000
Second mort. bonds
300,000
Lease warrants
616, 1 00
Special equip, account,

Baltimore & Ohio
Rate adjustment! acct.,
Baltimore & Ohio
Billspayable
Coupons accrued
Miscellaneous
Profit andloss
Total

32,750
94,132
130,000
54,320
38,°34
63,562
$4,709,599

1063.

Maryland

Brewing Company.

("Statement for seven months enaing Oct.

Plants and Stock.

— The breweries

1,

19,623

Company's IstM. 6s.
Eigenbrot Brewing
Co.

bonds

105,000

National Brewing Co.

bonds
193,903 Tenant property,
31,878
mortgage

Revenue stamps

20,^92
2,413
53 500
225,0(0
& 2,482
19,155
62,^06

Otfice furniture

Head office building..
BoLjdlnt., 6 months..
Dlv. No. 1 pref. stock.
Stocks and bonds
AcoTs recelv., secured
BuildiDK association.
Unexpired insurance.
Small adjustments
Unexpired taxes
Total

$2,750,0C0
2,750.0tO
7,303,000

preferred

909

Beer on hand at cost.

The

Do

—

common

Building

92,000
2,500

association

mortgage
Accounts

14,384

payabla

(paid Oct. 15th)
Suspense accounts...
Profits

50,341
2,403
494,688

458
14,991
n9
4,079

$13,564,316

Total

$13,564,316

officers are:
R. B. Sperry, Vice-President; F. II

GENERAL INVESTMENT NEWS.

1,095

$208,991

3^

do beer, net.
do hot beer.
do malt

Organization exp

$373,220
170,682

179,048

etc..

Aocts. rec, loans

$366,892

$207,711

*

Brewery plants,

5,23-J

900

$348,007

$220,165
Net earnings
Deduct—
$101,400
Int. rest on bonis
4,741
Misc. int. and disc'nt...
20,706
Taxes

in 1896,

Materials

Stock,

1895-6.

83tj

....

$181,978
107,438
11,932,378
424,953
188,014

Manager; Paul A. Seeger, Secretarv and Treasurer
James Barklay, Auditor.— V. 69, p. 1065.

5,522

Total..

Liabilities

Cash

Do
Do
Do

OCT. 1ST, 1899.

Gottleib, General

$386,734
4,768

Passengers
Mail

Expenses.

BALANCE SHEET OF
Assets-

John Bauernschmidt, President;

:

E.\RNINGS, EXPENSES AND CHARGES.
1898-9.
1897-8.
1896-7.

Freight..!

[Vol. LXIX.

1809.J

acquired are as follows:
Geo. Bauernechmidt Brewing Co., Geo. Gunther, Wehr-Hobelmann
& Gottlieb Co., Vouderhorst Brewing Co., Baltimore Brewing Co.,
National Brewing Co., Eigenbrot Brewing Co., Bay View Brewery,
Geo. BriLm, Germania Brewing Co., Oriental Brewing Co., Jno. F.
Wiessner & Bro., .lohn B. Berger, S. Helldorfer's Sons, Darley Park
Brewery, Mount Brewery.
These plants sell about six-sevenths of the annual output
The preferred
of beer made in Baltimore City and County,
stock (S8,25",0f)0 authorized and |2, 750. 000 iissued) is entitled
to 6 per cent cumulative dividends. The first semi-annual
dividend of 3 per cent was paid Sept SOth last. The common
stock ($3,250,000 authorized and $2,750,000 issued) is entitled
to all net earnings over fixed charges and 6 per cent on the
preferred, subject of course to the action of the board of
Par value of shares $100.
directors.
Voting Triist.— The voting power of a large majority of
the stock is pooled for five years, with eleven voting trustees
as follows:
J. B. Ramsay, President National Mechanics' Bank; D. H. Thomas,
President Meichants' National Bank; John A.Tompkins. President
Citizens Trust & Deposit Co.; H. Irvine Keyser, capitalist; Geo. C.
Jenhinp, capitalist, Thoe. B Clendenin, attorney at-law; R. B. Sperry,
of Sperry, Jones & Co., bankers; John Bauernschmidt, brewer; Jos.
H. Straus, brewer; Geo. Gunther, brewer; H. A. Brehm, brewer.

RAILROADS. INCLUDING STREET ROADS.
Reorganizations, Etc.— Latest Data as to Defaults, Reorganization Plans, Payment cf Overdve Covpons, Etc. All
facts of this nature appearing since the publication of the last
issues of the Investors' and the Street Railway Supplements may be readily found by means of the following index.
This index does noi include matter in today's Chronicle.
For some smaller companies see Chronicle of Nov. 18, 1899.
RAILROADS & MiSCELL. COMPANIES. RAILROADS & MiSCELL. CO.'S— (Con.>
Vnlunu 69—
Page.
Volume B9—
Paoe.
Atch. Col. & Pac.neiy see's readi/.1102 K. 0. Pitts. & Gulf .mod. ptan.1012, 1002
Atch.Jew.Co. & W. .new see's rea(Ji/.1102 Peor.Dec. &Ev..(icc.;<iffrf«m'M063, 1103
AtlasTaok
/oreiiosi/re safe. 1105 St. L. Chic. & St. Paul.. saJe Dec. 18.1147
/or*cJos.ll49 Southw. Ark. & Ind. Ter. By.. sa/e
Bird's Kye JelllcoCoal
Chicago & Grand Trk... reorff. pian. 951:
set aside
1063
do
rJf»osit.«.1061
do
Suburb.Elec.of Covingt'n,Ky.rec'/.ll61
Chic. Peer. & St. L.
sale Dec. IP. 1147
Unit. Verde Cop. .retnc.pian. 1107, 1162

—

Cit.Gas of Bridcep't, Conn.(i<'/au(t.ll49
Col. Lima Jt Mllw. .receiver applied
fur
1103
Consum.Elec. Light (Tampa, Fla ).
stKcessor company
J161
Eureka Springs Ry
de}ault.^Wi\
Harjier* Bros.frusfee.'! inposfes'n.l)50

Harrisburg (Pa.) Car Mfg

soid.1065

.

Wabash KR

deb. inttrtgt .llOi

West. Maryland. Droiyosed

sale. eft. 1064

Street Railways.

Vo1ume(i9—

Pctgt.

King8Co.El.newree'sre'(Ju,<tc.ll03. lliS

Lima-Hon'ye(N.Y.)EI.L.&RR.saie.ll03
Norf. So. (Mats.) St. Ry.rec'r.1103. 114»

Atchisun Topeka & Santa Fe B.J.— Dividend.— The directors on Wednesday declared a dividend of 13^ per cent on
the preferred stock, payable Feb. 1. The books close Jan. 10
and re-open Feb. 3 The dividend is paid from the earnings
for the last fiscal year ending June 30, and calls for $1,712,The surplus available for the dividend, as shown by the
980.
annual report (see Chronicle, issue of Sept. 23, page 648),
was $2,987,480. The previous dividend, paid July 26, was \^i
per cent, making 2% per cent that has been declared from
the earnings for the fiscal year.
Additional Mileage Owned in Fee. The two lines in Colorado owned by the Atchison, viz the Denver & Santa Fe
Ry 117 miles, and the Pueblo & Arkansas Valley RR., 294
miles, have been conveyed to the Atchison, whose mortgages
are now a direct lien upon this mileage. The securities of
these corupanies were heretofore held as collateral under the
Atchison mortgages, but the ownership is now in fee. V. 69,

—

:

,

—

p. 1061.

—

The system's new
miles long, from Denmark, S. C. southwest to Robbins on the Charleston & Western Carolina, was to be put
in operation on Dec. 1. By means of this extension the
Atlantic Coast Line, which owns the Charleston
Western
Carolina, is able to reach Augusta, Ga., from the east over
its own tracks independently of the South Carolina &
Grorgia Division of the Southern Ry., which has been used
between Denmark and Augusta. V. 69, p. 591.
Atlantic Coast Line Co.— A'ew Line.

line, 35

,

&

—

Baltimore

—

&

Oliio 'KR.— Mortgage Filed. The first mortgage for $45 000,000 on the Southwestern Division, made to
the Farmers' Loan
Trust Co. of New York and W. H. H.
Miller of Indianapolis, as trustees, is being placed on record.

&

—

V. 69, p 1147.
" This puts the company in a strong position, as its policy is
Brooklyn Heights RR.— §war/erZ^.— Earnings for the
controlled by successful business men. These voting trust quarttr ending Sept. 30, the results in 1899 including, in adcertificates are listed at the Baltimore Stock Exchange."
dition to the lines operated in 1898, the Brooklyn Union EleBonds. The company has issued and has outstanding vated RR and Nassau Electiic RR., are as follows:
17,303,000 first mortgage 6 per cent gold coupon bonds dated 3 mos end.
Oross
Net
Other
Interest,
Balance
March 1st, 1899, and due March 1st, 1938; in addition to Sept. 30.
earnings.
earnings.
income.
taxes, etc.
surplus.
$2,775,838
which amount |197 000 are held by the tiustte to take up a 1899
$985,652
$86,294
$995,262
$76,684
1.664,931
705,»:85
21,972
197,000
620,857
similar amount of underlying bonds. The interest is payable 1898
M.& S. at the Citizens' Trust & Deposit Co., Baltimore. -V. 69, p. 1148.
Chicago Burlington & Quincy VLR.— Called Bonds.— Iowa
There is a fcinking fund provided of $75,000 in cash each year,
fifty-six 5 per cent
to be invested in bonds of the company. The company de- Division bonds dated Oct. 1, 1879, viz
bonds and one hundred and seventy 4 per cent bonds (aggrepcsits with the trustee on the first of each month the accrued
interest on its bonds to date. It has also anticipated its gating $226,000) have been drawn for the sinking fund and
sinking fund requirements, due March Ist, 1900, by purchas- will be paid at the office of the company, No. 704 Sears
ing $86,000 of its first mortgage bonds, which have been de- Building, Boston, Mass., cr at the National Bank of Commerce, in New York, on April 1, 1900, at the rate of 105 per
posited with the trustee.
cent and accrued interest to April 1, 19C0, for 5 per cent
Earnings. The earnings and charges are as follows:
bonds, and at the rate of par and accrued interest to April 1,
Net earnings for seven months ended Got. 1, 1899
$494,669
Interest on said bonds will cease
1900, for 4 per cent bonds.
Fixed charges ahead of the common stock for seven months:
Interest on bonds, $262,500; sinking fund, $43,750; diviApril 1, 1900.— V. 69, p. 795.
dends on preferred stock, $96,250
402,500
Chicago & Eastern Illinois RR.— Dividend— ConsolidaBalance for common stock, etc
$92,189 tion.— The directors on Monday declared the regular quar-

—

:

—

December

,

THE CHRONICLE.

1899.]

119H

Delairare ^ Hudson Co. New Equipmeyit. —CoatraGtB
have been made for 1,000 gondola cars, 40 tons capacity, and
1,000 box cars; also for forty two large locomotives. These
RR. and the Evansville Terra Haute & Chicago, subsidiary contracts are in addition to the cars purchased earlier in the
lines, on whose merger the Eastern Illinois stockholders will year under the $1,500,000 car tru9t and call for an expendivote Dec. 27. Steps have also been taken to refund the $1,- ture of about $2,500,000. The volume of business, it is said,
250,000 bonds of the E. T. H. & C. which mature early next has so increased as to render imperative the increase in the
terJy dividend of 13^ p. c. on the pref. stock and a semi-annual dividend of 2 per cent on the common stcck. They also
arranged to absorb by consolidation the Indiana Block Coal

year.
Called Bonds.— Indiana. Block Coal RR, Nos. 71 94 and 95,
three of $1,000 each, and No. 106, one of $500, have been
drawn lor the sinking fund and will be paid, principal and
Trust
interest, upon presentation at the Farmers' Loan
Co., interest ceasing Jan. 1. V. 69, p. 905.

equipment.—V.

*'A" stock, payable Jan. 31. 1900. This places the stock
five per cent basis.
The two previous semi-annual
dividends were 2 per cent each, both paid this year. V. 69,

—V. 69, p. 541.

& Western Rj.Sale Authorized.

— The stockholders on Thursday ratified the sale of the propRy.—V. 69, p. 695.
& Northwestern Rj.— Bonds Offered.— W.

erty to the Pere Marquette

&

—

69, p. 1061,

Detroit Grand Rapids

,

Detroit

J.

Hayes & Sons, of 111 Congress St., Boston, are offering at
Chicago Great Western Ry. Dividend Increased. —
par and interest $100,090 of this company's first mortgage
dividend of $2 50 per share has been declared on the preferred
gold bonds due in 1919. See Street Railway Supplement.
upon a

—

Findlay Fort Wayne & Western Ry. New President.—
George Chapman has been elected President to succeed
CLicdgo & North Western Kj. Dividend Increased. The Colonel John Jacob Astor. The latter was made Chairman
directors yesterday increased the semi-annual dividend on of the board of directors.—V. 60, p. 656.
the common stock from 2% to 3 per cent, placing the stock
Flint & Pere Marquette RR.— Sale Authorized.— The
on a 6 per cent basis, or the same rate as paid during the years stockholders at Saginaw, on Dec, 6, voted to sell the prop1886 to 1893. In 1894 only 3 per cent in all was paid, and in erty and franchises of the road to the newly organized Pere
1895 only 4 per cent.— V. 69, p. 1147.
Marquette Railroad —V. 69, p. 1103, 1107.
Grand Rapids & Indiana Ry. Remaining Old First 7s
Chicago St. Paul Minneapolis & Omaha Ry.— Dividend.—
The company has declared an annual dividend of 5 per cent Extended.— The $920,000 first mortgage 7 per cent land grant
on its common stock, payable Feb. 20, 1900. The first divi- bonds, purchased at maturity Oct. 1, 1899, by the Pennsyldend on this stock was 2 per cent paid in 1897; the same vania RR. in accordance with the agreement with the Q-rand
amount was paid in 1898, but in February, 1899, 3i-^ per Rapids & Indiana RR., have been extended at 3^per cent to
July 1, 1941. There are also outstanding $4,455,000 4^^ per
cent was distributed.— V. 63, p. 521.
cent bonds, secured by the same mortgage. V. 69, p, 645,'
Chicago Termiual Charge.— -DecmV n Favorable to RailGuayaquil & Quito Ry. of Vcn&dor.— Mortgage.— The
roads. At Chicago, Dec. 4, Judge Kohlsaat ruled that the
terminal charge of $2 per car-load of live-stock imposed by the company nas filed in the County Clerk's office in Jersey City
nine railroad companies running into the Union Stock Yards a mortgage for $12,282,000 to the United States Mortgage &
(owned by the Chicago Junction Railways & Union Stock Trust Co. as trustee to secure an issue of thirty- three-year
Yards Co.), is reasonable, and that the Inter-State Com- per cent gold bonds. E, Hope Norton says:
There is now one railway line in Ecuador; it is 65 miles loos, and
merce Commission has no right to enjoin them. The Court
stops short of Quito, the chief city. Its equipment consists of four
finds that the defendants impose this extra fee to cover the locomotives and thirty-six cars. This line is to
be extended along this
charges paid to the Stock Yards Company for the use of its 230 miles to Quito. We will also build two minor branch lines, but

p. 1061.

—

—

.'

—

—

Chicago & West Michigan ILj.—Sale. The stockholders
on Thursday ratified the sale of the property to the Pere
Marquette Railway Co. V. 69, p. 1011.

—

Choctaw Olilahonia & Guif RR.— Lease Efective.-The
RR. became effective Dec.
&
& M. is to be issued between

Memphis
lease of the Choctaw
1.
The capital stock of the C.

now and

most importaut. That there is need for a railway to Quito
shown by the passengers and freight returns over the Government
roads, on which about 70,000 mules and donkeys are used. Last year
210,000 passengers were carried. 14,600,000 pounds of freight were
taken to the coast and S 0,000,000 from the coast Inland. The expoits are chiefly hides and agricultural products; the imports are
manufactured goods, salt and sugar. There are also extensive coal
deposits, which are not worked at present, but which the building of
the line may open up.
The company, it is said will receive a share of the country's
this is the

tracks.

Jan.

1,

1900.— V.

is

"

,

69, p. 1147.

City Electric Rf. of Rome. Ga. Purchase.
pany, it is stated, has purchased the stock of the
tric Light Co.

—The

customs

com-

receipts.

The company's

—

capital stock

is

$12,282,000,

which is preferred. V. 69, p. 795,
Lickiug River RR. Successor Company. —This company

half of

Rome Elec-

has been incorporated with $50,000 authorized capital stcck
as successor of the Licking Valley Ry,, recently foreclosed.
Common Pleas Court at Defiance, 0., on Dec. 1, Judge W. The road extends from Salt Lick to Yale on the Fugate,
H. Hubbard appointed Hon. H. G. Baker receiver of the in Menifee County, Ky. 12 miles, and is projected to Bath
County, on the Chesapeake & Ohio, and to West Liberty,
road.— V. 69, p. 1103.
Montreal RR.— Neiv Bonds. — Following is the making 40 miles in all. V, 69, p, 955.
Concord &
Manchester Street Ry.— Manchester Electric Co.—
form of the $500,000 of 'S}4 per cent bonds to be issued Jan. 1,
The Manchester Electric Co,, which supplies the Street
1900, to cover the cost ot the Manchester & Milford branch
For value received, the Concord & Montreal RR. promises to pay 10 Railway Company with power, has purchased the entire
the bearer, or, in case of registration, to the registered holder herei 1, capital stock of the Garvins Falls Power Co., and will erect
the sum of $1,000 on the first day of June, 1920, together with intertet the proposed plant. The purchase embraces, it
is said, nearly
thereon, until said principal sum is paid, at the rate of 3^2 percent per
aanum, payable gemi-annually on the first day of Decemoer and of 1,000 acres of land and facilit-.ies for producing 5,000 or more
June in each year, on the presentation and surrender ot the coupons horse power. This is the property which it was thought
annexed, as they severally become due, at the office of the Treasurer the new Consolidated Electric Co. (see page 1014) might acof the corporation, or at the office of the Boston Safe Deposit & Trust
quire.—V. 69, p. 229.
Co., in the City of Boston, Mass. This bond is one of a series of 500
bonds, amounting to $500,000, authorized by the Concord & Montreal
Metropolitan Street Ry.— New Foioer House
The comRR., lessor, to provide for the building of the Mam hester & Milford oany's
new power house at the foot of 96th Street and the
branch, in ac<'ordance with Chapter 186 of the Laws of th- State of
New Hampshire, passed January session, 1899, approved March 8, East River is now in operation. Besides generating power
1899, and in accordance with the lease of June v9, 1895; and the in- tor the Metropolitan system, it is reported to be supplying
terest upon this issue of bonds is payable by the Boston <k Maine RR., po .\er for the N, Y. Light,
Heat & Power Co.— V. 69, p. 1103.
as provided in said lease. This bond, but not its coupons, shall be subject to registration from time to time, at the option of the holder; and
Mexican National RR.— Mexican National Ry., Limited.
If registered, shall pass only by transfer upon the books of the Concord
Secretary
affect of Decision.— William.
& Montreal RR. at the office of the Boston Safe Deposit & Trust Co raihoad company, has favored us Burckel, following of the
with the
Boston, unless the last transfer shall have been made and registered
to bearer, in which case the bond shall again pass by delivery until
The amount of the Mexican Qoven ment 5 per cent internal sliver
again registered. The coupons shall in all cases be payable to bearer, bonds received in exchange for subsidy ceriiflcates was $4,554,300.
whether the bond itself is legistered or not. This bond shall be valid Of this $26,200 has been drawn and paid off by the Mexican Governonly when authenticated by the certificate hereon of said Boston Safe ment, leaving a balance in the subsidy fund of $4,528,100 in bonds.
Deposit & Trust Co. that it is one of the series of bonds aforesaid.
The sale of these bonds and the application of the proceeds to the retireojcnt of prior lien bonds
The botds bear the engiaved signatures of the company's ject of contention betweenof the Mexican National KR. was a subthe parties at interest. Recently the
President and Treasurer under date of Dec. 1, 1899. V. 69, English Court of Appeals, reversing the judgment of the lower Court

Columbus Lima & Milwaukee Rj.—Beceiver.—ln the

—

:

—

—

,

:

—

p. 795.

Connecticut Lighting & Power Co.— Central Railway &
Electric of New Britain.— Correction, In our report of the
Central Railway & Electric Railway of New Britain, given
in the Street Railway Supplement for November 25, 1899
(page 90) a typographical error occurred in stating the net
earnings for the year ending June 30, 1899. The figures
were given as .|1,572, when they should have been printed

—

$51,572.

Below wesho«vthe figures in their corrected form.
For year ending ^Jnne 30 (Central Railway &

Earnings.

—

Electric):

1898-99

Bailway.
$91,512

Elec. Light.

Total Gross.

Net.

$64,7z9

$156,241

$51,572

-V. 69, p. 26; V. 65, p. 1054.
Danville (111 ) Street Ry. & Light Co.— Incorporated.—
This company has been incorporated in Illinois with authorized capital pto^k $700,000. Incorporators: F. Lindley, A.
R. Samuel, O. W. Cannon, all of Danville.

authoilzed the Trustee to sell the bonds and apply the proceeds to the
retirement of prior lien bondp. The Trustee is not yet legally advised
as to whether an appeal will be taken from this decision, and it so If it
will restrain the sale of the bonds pending the decision on appeal. At
the present price of silver and at the present market valuo of these
subsidy bonds, $2,000,000 in gold, approximately, would be realized.
But as both these values are fluctuating, it is not possible to state the
exact number ot prior lien bonds that the proceeds of the subsidy
bonds will retire. In any event the proceeds of the subsidy could
not be made applicable to the payment of the Mexican National prior
lien bonds until the tirst of June, 1900.— V. 69, p. 1103.

3iissouri Kansas & Texas Ry.— Kansas City & Pacific
Gynsolidation Still Blocked. The decision referred to
last week was merely on a techticalitj
the main question
at issue is yet to be heard on its merits.
In the meantime
the proposed consolidation is enjoined.
The suit was
brought on behalf of holders of about $500,000 stock of the
Kansas City
Pacific Ry,, who claim that the attempt to
make them exchange their holdings for a like amount of
stock of the the M.
T. is unfair in view of the much

—

Ry.

;

&

K &

THE CHRONICLE

1194

heavier fixed intenst charge per mile ahead of the stock
of the latter road.— V. 69 p. 1148.

Norfolk

& Southern HR. — Meetmg

The stockholders

will vote Jan. 4 on

—

Ratify Purchasp.
a proposition to pur-

to

chase the Norfolk Virginia B-ach & Southern RR. and to
coneider ffuch other matters as may be pertinent thereto.
V. 69, p. 906.
Norfolk Virginia Beach & SonthTD RR.—SaZe.— See Norfolk & Southern RR. above.— V. (^9. p. 90*5.
Noi'them Pacific Ry.—RfceiversMjy of Old Company Terminated. At Milwaukee, Dec, 7, tbe receivership of the
Northern Pacific RR Co. was formally closed up in the
United States Court, when Judg>» Je'k'rs signpd an order
discharging Frank G. Bigetiw and E. W. McHenry as rfSince the sale of the railroad property to the North
oeivers.
em Pacific Railway Co., the reorganized corporation, Messrs.
Bigelow and McHenry have been acting as receivers for the
lands of the company, mainly those lying east of the Mis-

—

soari River.

Land Sales.— The proceeds from thp sale of lands to Frederick Weyerhauser of Wisconsin, referred to in our is-iue of
Nov. 25, page 1103, and amounting to some §6,(0 i. 000, we
learn is not to be used to retire the balance of the old fix per
cent bonds, the ac -umnlated moneys received from otner
land sales being sufficient for th^t purpose. Toe bulk of the
Weyerhauser money will be availaJ^le for betterments and extensions, the Prior Lien m>rfgageof 1896 limitmg the amount
of land sales of any one year which th« company must
apply to redemption of bonds to not exceeding $100.0 0. If
Prior Lien bonds cannot be purchased at 110 from this fund,
the general lien bonds are to be bought at not over par.
See mortgage abstract, V. 63 p. 1016, 1017.
Lands Unsold. The company still ha- unsold upwards of
about 2.T. 000,000 acres of land, some of which, however, has
little value. -V. 69. p. 1103.

—

Norwich & Wore* ster RR.— A'ejtJ Securities.

—The company

has applied to the Massachusetts Railroad Commission for
authority to issue $24.5,0<i0 of 4 per cent bonds and 2H0 HOO of
preferred stock to cover the cost of the extension from Nor
wich to Groton, the elimination of grade crossings, and the
building of new stations. These new securities will raise the
ontptandirg bonds to $1,200,000 and the stock to $3,000,000.—
T. 65, p. 726.
Pere Marquette Hy.— Consolidation. Tbe stickhoHers
of the Flint k Pere Marquette RR. and th-^ Chicago & West
Michigan and Detroit Grand Rapids & Western Ry. companies have ratified the s tie of their properties to the new
Pere Marquette Ry.—V. 69, p. 1103.
Rapid Trans t in New York Ci^y.— Prr specfive Bidders.—
The National Street Railroad Construction Co formed for
the purpose, is expected to be one of the bidders for the right
to build and operate the rapid transit system. The well
known street railway man, H. M. Littell, who has an oflBce
in the banking house of J. & W. Seligman & Co., is the representative of the capitalists who are behind the Construction
Company. Among the men interested is said to be James B
McQaaide, Treasurer of the National Conduit & Cable Co., a
company which furnishes electric cables such as would be
used in the tunnel. J & W. Seligman deny that they will
finance the undertaking. See also Rapid Transit Tunnel RR.
below.— V. 69, p. lO'^S.
Rapid Transit Underground RR. of New York.— Incorporation. Notice is given by advertisement of the formation of this company under the laws of New York Si'ate for
the purpose of building and operating the rapid transit road,
provided the right to do so can be obtained (see V. 69, p.
1063). The dire tors, all with rflfices in tbi.a city, are

—

.

—

:

Nelson S. Easton. 16 Broad St.; Cornelius V. Sidell, 146 Broad St.;
Carlton H. Reeve, 40 Wall St John Bogart, 50 Wall St.; John Acken,
13 William St.; David Leavltt Housli, 19 West 31st St.; John F.
O'Rourke, 44 Broad St Thomas Allen, 150 Nassau St.; Robert H.
Sherwood, 13 William St.
The capital issued is $100,00"). The stockholders, in addi
tion to the directors are: Charles E. Sper cer, 50 Wall
;

;

St.;

Clinton Stephens, 44 Broadway;

Wm. M

Clarke, Bar-

rett House; Horace I. Bng'itman, 50 Broadway: H.J. Snbers, 33 Wall St., and H. Broaner. 28 Bro>id St.. all of
York City, and Louis J. Hanchett, San Francisco, Cal. V.
69, p. 1063.

New

—

Rio Grande Western fLy.— Extensions. — The Carbon Co.
RR. was incorporated in Utah Nov. 20. with capital stock of
$660,000, to build extensions from Schofield Station, Utah,
south 7 miles via Clear Creek to Pleasant Valley coal
fields, and from Mounds Station west 26 miles throuuh
Grassy Trail Creek and Whitmore Canyon to the Suanys de
coal mines, and thence 9 miles up Whitmore Canyon. Of
these, 6-1 mil s is completed on the Clear Creek Coal branch

and

—

on the Sunnyside branch. V. 69, p. 900. 910,
The Kansas
St. Louis & San Francisco IIR.— New Line.
Oklahoma & Gulf recently completed from Cale, Kan., to
Black well, Okla. 20 miles, has been transferred to the St.
Louis & San Francisco, in the interest of which it was built.
16-7 miles

—

,

,

—V.

69, p. 792, 8l3.

—

Soutliern Pacific Co. Sale Denied. The reported purchase by the Huntington-Speyer syndicate of 140.000 shares
of Southern Pacific stock formerly held by Mark Hopi<iD8
is denied at the office of Speyer & Co., who state that no pur
chase of the company's shares has been made by the syndicate since the acquisitioa of the Stanford holdings a few

weeks ago.— V.

69, p. 1104.

[Vol. LXIX.

Suburban & Wbeeliug (West Va.) RR.— Jncorporated.—
This company has been incorporated with authorized capital stock $1,000,000.
Incorporators: G. A. Fiaccus, L.
Steenrod, C. N. Frissell, R. T. Devries, F. L. Hogue, all of
Wheeling.

Twin City Rapid Transit (!o.— Minneapolis Street Ry.—
Bonds.— Twenty bonds ($20,0o0) of the Minneapolis

Called

S

reet R}'. Co., viz.:

Nos. 7, 9. 25, 34, 37, 45, 71, 76, 96, 130, 189, 199, 212,243, 258, 277,
373, 377, 389 and 397,

have been drawn and will be redeemed at 105 and accrued
upon presentation at the Farmers' Loan & Trust
Co,, New York.
The interest on the above bonds will ceass
on and after May 1, 1900.- V. 68, p. 522.
intere'-t

United Railways & Electric Co. of Baltimore.— CoZied
Bonus Tdree first mortgage 6 per cent bonds of the Central Railway Co., viz,: Nos. 31,50 and 193, issued under
trust deed of May 11, 1882, have been drawn for 'he sinking
fund and will be paid at par at the Safe Deposit & Trust Co.
•f Baltimore on Jan.
1, 1900, when interest will cease.
V,

—

—

69 p. 1148.

Worcester Consolidated Street Railway. New Securities
Railroad Commission on Dec 5 heard
the petition of the company for permission to issne $150,000
a I iitional capital stock for extensions and $850,(i0't of 5 per
cent bonds to pay maturing bonds ($650,000) and to provide

— The Massachusetts
for the floating debt.

INDUSTRIAL. GAS AND MISCELLANEOUS.

—

New

Industrial Companies. Index. The leading items
neretofore published regarding new industrial companies,
mostly organized or floated since the October issue of the Investors' Supplement, are indicated by the following index :
For list of some smaller companies see Chronicle of Nov.
1

8. 1899.

Page.
1' 61
Anglo Amer. Rapid Vehicle Co
9.=)6
Atlantic Iron & Steel
Coniiuen.Zinc \Leait Miu.&Smelt. 064
1105
Fort Pitt (Natural) Gas
1150
General Carriage
Manhattan Light & Heat.
110
Mass. Teleph. & Telegraph ...1066. il50
People's Teleph. Corp. (N.Y.Ciiy).lljl

Page.

Pure Milk
1015, lOefl
Shamokin (Pa.lLight.Heat&Pww.lloe
.^int le Tube Auiom. & Bicy. Tire.. 1106

Southern Frutt & ransportat'n...U61
Sirohm Auiom. Electric Safety
Block System
1066
Teleph Telegr. & Cable. '0i6. 1066, 116 L
i

Philadelphia Electric

961

—

Addyston Pipe & Steel Co. Decision Against Trusts. The
Uoited States Supreme Court on Monday, in a decision handed down by Justice Peckbam, declared that the combination
of this company with five other concerns for the division
among them of the market for water and gas pipes, in thirtysix States is in violatioa of the Anti-Trust Act of 1890.
The
concerns, which by the decision are enjoined fr'^m continuing the combioation, are: the Addyston Pipe & Steel Co. of
Cincinnati: Dennis Long & Co. of Louisville; theH)ward

Harrison Iron Co, of Bessemer, Ala.; the Anniston Pipe &
Co. of Anniston, Ala.; the South Pittsburg Pipe
Works of South Pittsburg, Tenn., and the Coattanooga
Foundry & Pipe Works of Chattanooga, Tenn, Excerpts
from Jastice Peckh-im's opinion follow

F undry

:

We

the plain language of the grant to Congress of
power to regulate coomierce amon^ the several States Includes power
to Ifglslate upon iUh suhiect of these contracts in respect to interState or foreign comtDHroo which directly offset and rt-gulate that
commerce, and we can find no reasonable ground for asserting that
the Constitutional provision as to the llherty of the individual limits
the extent of that power as claimed by the appellants.
The defendants liy reason of this combination and agreement could
only send their gooos out of the S'ate upon the terms and pursuant to
the provisions of such combiuatitm. Was not this a direct restraint
upon iiiter State commerce in those goods? If the price of the commodity was thereby enhanced (as it necessarily wouhi e), the character of the agreement would be still more clearly in restraint of trade.
Total suppression ot the trade in the commodity is not necessary in
order to render the combination one in restraint of trade. It Is the
eflfect of the combination in limiting and restricting the right of each
o' the members to transact business in the ordinary way, as well as its
efteot upon the volume or extent of the dealing in the commodity that
Is regarded.
It is almost nf edless to add that we do not hold every private enterprise which mty be carried on chiefly or in part by means of interState shipments is therefore to be regarded as relegated to iuter-state
commerce, so as to come withiu the regulating power of Congress.
Such eiiterpti.«e^ may be of the same nature as the manufacturing of
tine sugar; that is, the parties may be engaged as manufacturers of a
commouity which they thereafter intend at some time to sell, and possibly to sell ill another fetitie; but such sale we have already held is an
incident to and not the direct result of the manufacture, and so is not
a regulation of or an illegal interference wiih inter-State commerce.
The principle is not atl'eoted by anything herein decided.

conclude

tliat

<

The decision, which would seem to have no bearing upon
the recent large consolidations, is discussed in our editorial
columns to-dav;aipo in the Chronicle of Nov. 25, page 1180,
and of Feb. 19, 1898, pages 362 to 364.— V. 68, p. 185.

American Alkali Co.— Li,stpd in Philadelphia.— The Philndelphia Stock Exchange has listed the company's $24,000,000 common and $6,000,000 preferred stock; par value of
each, $50: common stock issued full paid, prelerred stock
issued 20 per cent (f 10) paid in on each share and assessable
up to par value. Registered with the Provident Life
Trust Co. of Philadelphia.
Transfer office, 815 Drexel
Building. The official statement saj's:
The company was incorporated May 6, 1899, under the laws of New
Jersey, for the purpose of iiiaiiufacturing bleaching powder, caustic
soda and co-incidental chemical produces. Its propeity consi.sts ot patent right? for the United States and Canada of Messrs. Hermite <&
Diibosq aud Joun G. A. Rhodin, for production by electrolysis. In
addition the company has secured power contract with the Lake Su-

&

perior Power Co., to bo furnished with 40,00l» horse-power at rate of
$L0 per h. p. per annum, applicable every day in the year and twentyfonr hours to the day. The authorized capital stock is $30,000,000,

i

December

THF CHKOM'^

9, 1899.]

all outBtHnoiDi; (an above). Common xtook i-sned full paifl in p ri
oonsideratiiiu for United Statew ami Cana(linn p+trut rii;hi8. Not
landed fl.bt.
atinK d(bt, .foO.ooO, hiUs p^j able, not yet due, being the remaining part of ilie consideration paid for patent rights. V.
68, p. 92o.

H

—

American Bell Telephone.— American T.'lephone & Telegraph Co.— Tr vsfer </ AnseU.—Eu-hariLe cf St ek. —Tae
directors of ib« Aiuerican Bel) Telepbone Co. ou D^-c 1 voted
to turn o^T the assets ot the coiijp*Dy to the AiU'-ncan Te'e
phone & TeJe«raph Co , comiuonl.v knowQ as the Locg Distance Co,
Pr sident Huda >n 8av-<: " Ic is to he recom
mended that two shares of Loog DistaLCo C'. stock be oxchangfd for on^-shtreof Atnericau Bell Telephooe Cr>. stock.
The balauce of $l9,00(),oui» or $iO,0i> .O'irt f L, ng Distance
Co. stoi-k tvill bt< h^llfortbe benefic of the Long Distance
Co."— 69, p. J 149; V. 68, p. 1178.
.

V

—

1832.

1195

K.

«

1893.

1894.

citv.

a"d

18

l-9i.

6.

1899.

1898.

1897.

6%
5%
e is at 30-36 Washington Place, this
lactones are at Newark, N. J. The officers are:
4%

5iii%
6%
4%
The company's offi
iif

4%

4%

W. C L-fferts, Pre-ident; J. A. Bartow, Vice-President; F.
R. Letferts, Treasurer; J. R. Hilsey, Secretary.

Central Hudson Steamboat Co.— Bonds.— This company
last pring as a consolidation of existing com-

was formed
panies.

described as follows: First mortgage

I's boi.ds are

5 per cent,

goM bonds

May,

amount authoriz-d,

1919;

May and November), due

(interest

$500, COO; all

outstanding.

of New York. Trustee.
All the bonds of the
City Trust C
old compaiiies have been retired.
V. 68, p. 771.

—

Chesapeake & Ohin Canal Co.— Oj^er.— Auoffer of $4^10,000
has been made thr ugn the Mercantile Trust Co. of Baltimore for the Staffs of Mnryland's holdings in the Chesapeake
6 Ohio Canal.- V. 68, 281.

American Bicycle Co. Canadian Company Distinct.
The r^ational Cycle & Automobil- Co.. w« are infuruaed, ia
not a Canadidti branch of the American Bicycle Co., altbonah
Chicago .function Railways & Union Stock Tarda Co.
some if tbe alter 's Canadian property was acquired by ir.
Decision. — As to the decision rendered this week touching
V. 69, p 1150.
terminal charges, t'ee '-Chicago terminal charge" under railAmerican Malting Co. MnrtQa'
The company has roads above —V. 6;*, p. 326.
1

—

000 000 to Walter G. Oabman and
George R. Tarn bull as Trustees. See description ana purpose of loan in V. 69, p. 1013.

filed its TTjortyage for

I').

is

Chieopee (Mass.) GasLight Co.— Control. — The company
now controlled by the Union Gas & Electric Co., which

see below.

Amerii an Telephone & Telegraph Ca.— Mortgage— The
C'>l<»rrtdo Springs Light & Power Co.— CoTifro^- The
vote of the directors of the American Bell Teiepbooe Co. to
turn over the assets of that com paoy to this corporation, coutTolof the piopertv has passed into the possession of the
commcniy known as the Long Distance Telephone Co.. is ne^ Union Gas & Electric Co., which see below. V. 68,
mentioned above. The "B "Ston N'-ws Bureau'' i>« authority p. 733.
for the st-iterneot that thn American T-lephooe & Telegraph
C'lnmhns{0.) Edison Company.— /ncorporafed to Hold
Co. has exec uted an indenture under which it w-iii be author
C ntiol This compatiy has tiled articles of incorporation in
ized to isf'U' $100,000,(i00 of 5 per cent bi nds.— V. 68. p. 1178.
New Jersey to own the control of the Columbus Electiic L yht & Power Co. and the Columbus Edison Electric
Atlantic Iron & Steel Co.— Consohdatinn. A mnj'irity in
L g't Co per plan in V. 69, p. 1105 The authorized capital
interest of 1h- stjckholdf-rs of the New Haven Iron & Steel
which $350,000 is to be 6 per cent presr, ck is S'-O .OhO, of
Co. and tde Susquehanna Iron & Steel Co has accepted the
ferred.
Eoitrson McMillin & Co. are interested. V. 69, p.
terms of the proposed consolidation uud< r this title. The
1105.
shareholders of the old companies for each |100 of their
Commercial Cable Co. Nno Stock.— The stockholders on
stock, it 18 stated, will receive $150 in the preferred stock of
the new C' inpany and have the risht losnbsrribe to th^ D.^c. 4 a ifi d toe prop sition to increase the capital stock
new common stock, receiving therewith a bonus in "'full from $l0.o(i0,<i00 to $15. 0> 0,000. Subsequently a certificate
announcing the increase was filed at Albany. The certificate
paid"comm>u st ck.
Incorp> T a' ion
The Atlantic Iron & Steel C")., with declares tbe liabilities of the corporation to be $18,324,949.
A circular offers to the stockholders of record Jan. 20,
authoiiz d capital stock, $0.000 000, of which one halt is
preferrrd 7 per cent non cuiuuiaiive, was incorporated at l9iM», the right to subscribe for $3.3B3 300 of the new stock to
the amount of one share for every three shares of the old
I o corporators: Charles A. P rter. K-nnedy
Trenton D c. 7
Crossan L. S. Filbert, William C. Martin, John P. Peddler, stock held by them. The new stock may be naid for in cash,
but only 25 per cent of each subscription is demanded Jan.
all of Camden.— V. 69, p. 956.
An additiooal 35 per cent must be paid by Feb. 20 and
20.
Bay Cit> (Mi h.) Gas Co. C>nfr«i.— A cor trolling inter- the remaining 50 per cent by March 20. The new shares
est in the pi op rty is now oeld by the Union Gas & Electiic
will participate in any dividend which may be declared
Co., which see below.- V. 69, p. 646.
April 2 —V. 69, p. 10^4.
Bigelow « arpet Co.—C<msolirlation. At Boston on Dec 5
Consolidation Coal Co. of Maryland. Called Bonds.
the stockholders of the Lowell Mioufacturiog Co. and tbe
Ttie following first mortgage Donds, dated Jan. 1, 1897, have
Bigelow Carpet Co. voted to consolidate tbeir properties
bf-en drawn for the sinking fund and will be paid on and
under he title of the Bigelow Carpet Co. The corsolidated nfter
1, 19o0, at the Guaranty Trust Company of New
company will issue S4,03'',l)00-of catjital stock, of which $3, York Jan. 105 per cent, with accrued interest
at
to that date,
030,000 will be used to a' quire the Lowell Company and
after which interest on each of the said bonds will cease:
$3,000,000 to acqniie the Bigelow Company. Tbi.-* s'ock will
^3
29
316
332
76
145
354
475
556
be distributed to the stockholders f tbe old companies p o 77
140
145
331
293
353
355
477
559
The P esident will be Arthur T. Lyni^n, Treasurer of —V. 68, p. 377.
rata.
the Lowell Company; tbe Treasurer will be Coarles F. Faiig
I OMsolidated Electric Co. Manchester, N. H.— .4s to Oarbanks. Treasurer of the Bigelow Company.
vm Fulls The Garvin Falls Power Co. (which this company
Burden's Condensed M.ilk Co.— cquiHition. The New was expected to acquire) has been purchased by the old
York Clondeused Milk Co. on Drc. 7 fi'ea at Tren'on. N. J., Manchester Electric Co.— see that company. The Consolia certifii-.a'e reducing its capital stick fr-^m $-«,0(i0,'i00 to dated Electric C >,, through its purchase of seven eighths of
Toe certificate was signed by the Borden Condensed the interest in the M'-rrimack Light Heat & Power Co. of
$2,01 0.
Milk Co which was orgnnizert last April with a capital ot H loksett. is sa d to e(mfol the water power at Hooksett Falla,
$20,000,00^, and which, it is said, owns all but five shares of Kelley's Fills and Gregg's Falls.- V. 69, p. 1014.
the New York company.— V. 68, n. 831.
Incorporated. This
Continental Gin Co. of New Yorlt
Bridif port Elei trie L'ght Co.
Consolidation,
See companv on Dec. 6 fil'-d articles of incorporation in DelaUnited II ummaiing Co. below.
wxre. Ispirpose is to manufacture and sell cotton gins.
Buffalo City Gas Co.— New Stock Feady —The stock- The authorized capital stock is .*3,000,000.
holders are r qu sted to present tneir cer iScates to the
Cuban Steel Ore Co. Acquisitions. It is announced that
Continental Truat Co No. 30 Broad St., in exchange for the this c mpany, wiih headquarters in Philadelphia, has pur-

—

—

—

—

—

—

—

—

1

•>

(

—

—

,

—

—

—

—

—

.

common

stock certificates of the Buffalo Gas Co.. sba-^e for
»«'ith the terms of the articles of consolidation.— V 69, p. 796.
Carnegie Steel Ci*.—Re.vgnation.— On Tuesday
C
Frick, at his own request, was relieved of the duties of
Chairman of tbe Board of Managers, in order to become,
with Mr. Carnegie, Mr. Phipps and Mr. Singer, consul ing
partners of the company. The offi-e of Chairman of the
Board, it is said, will be abolished.— V. 69, p. 1105.
Cedar Rapids (la.) Electric Light & Power Co.—i?tor
ganizea.—
press dispatch sajs this company has just been
reorganized, a number of local capitalists having purchased
all the st( ck and taken up all the bonds held in the East.
The capital stock his been increased to !$50".000 and the
capacity of the pUnt more than d. ubled. Offiers— President, C J. IV'S; Vice-President, J. H. Smith; Secretary and
Treasurer, l.-aac B. Smith.
Celluloid Company. Dividends. The company has declared a regular quarterly dividend of ll^i and an extra
dividend of Ij, payable D-c, 30, to stockholders of record
Dec. 14. The authorized issue of capital stock is $6,00",' 00,
and the amount outstanding $5,925,000; par value of shares
$100. The dividends paid by the company every year since its
organization (including those now declared) are as follows

share, in accordance

H

A

—

:

chimed 2,000 acres of excellent iron ore land in Guam, at the
eastern end of Caba, five or six miles inland from Chiriviri.
A railroad from Gaam to Cniriviri is nearly completed, and
the mines will be put in active operation in the spring, the
ore to be sent by wafer from Chiriviri to this country.
Instalment.
After tbe payment of the call due Dec. 2,
which makes the stock $5 paid, it is said no further call will
be made until some time in April or May. V. 69, p. 957.
Dedham & Hyde Park (Mass.) Gas a Electric Lisht Co.
Control is now held by the Union Gas
Electric
Control

—

—

—

—

Co.,

which

&

see below.

l)olgeville(N Y.) Electric Light & Foyyer

—Toe Court of Appeals recently

Co.— Litigation,

handed down a decision

set-

ting aside Justice Scripture's order appointirg J. D. Feeter
of Little Falls receiver of the company, on the ground, it is
understood, that a majority of the directors of the defunot
company never consented to its dissolution. The Appellate
Court sustained the appointment of the receiver but the
V. 67, p. 28.
Court of Appeals set it aside
Eastern Telephone & Telegraph Co. of Philadelphia.
Incoyporatid. Tuis comp<ny was incorporated in Delaware en Dec. 6. Aothoiized capital stock, $1,000,000. Incorporators: G. B. Smith, E. Davis, W. G. McKechney, all
of Philadelphia.

—

—

—

THE CHKOJVJCLE.

1196

Eqnitable Illnminatiog Gas Light Co. of Philadelphia.
to the terms of tbe mortgage
dated Feb. 1, 1898, one hundred and twenty-one bonds
($121,000) have been drawn for redemption and will be paid
at 105 and accrued interest to Jan. 1, 1900, on presentation
at the New York Security & Trust Co., 46 Wall Street, on
and after Jan. 2, 1900. Interest on said bonds will cease

— Vailed Bonds. — Parsuant

Jan. 1.— V. 69, p. 957.

Securities Co.— Secnrities Company.— The
Company, successor of the Equitable Securities
Co. (in turn successor of the Equitable Mortgage Co. ), ex?ects to begin business on or about Jan. 1 at 45 Wall St., with
!ha9. M. Preston as President.
The new bonds are to be
ready for delivery about the first of the year, more than 90

Eqnitable

Securities

per cent of the did security holders having assented to the
plan.— V. 69, p. 132.

Federal Steel Co. Expected Output in 1900,
Gary is quoted as saying:

—President

E. H.

The Minnesota Iron Co. will next year produce about 3,500,000 tons
of ore. The price for this ore has been flxed at $5-50 per ton. The
price this year has been $2 50 and $3. The Dulnth & Iron Range RR.
will haul during this year about 4,000,000 tons, but next year about
5,000,000 tons. Our steamships will carry next year upward of 2.000,000 ton.s. The rate this year was 80c per ton. Next year it has
been tlxed at $1*25 per ton. The company will manufacture 1,500,000 tons of coke next year, again8t7o0,000 tons this year. The price at
ovens this vear was $l*oO per ton. Next year the price will be from
$2-75 to $3' per ton. It will manufacture upward of 2,000,000 tons of
finished product.— V. 6!), p. 908.

Fort Wayne (Ind.) Water Power Co. Receiver Applied
For. At Fort Wayne on Dec. 1 George A. Wilbur, asnolder
of $4,000 bonds, interest on which is in default, applied for a
receiver for the property. The company's first mortgage
bonds are gold 5 per cents, due Dec. 1, 1935, and they have
offered at auction within recent months, carrying several
overdue coupoDS. Besides default, Wilbur alleges that $10,000
bonds have been wrongfully hypothecated to pay off a mortgage.
Glens Falls Gas & Electric Co.— Cora iroi.— Control is now
Electric Co., which see below.
owned by the Union Gas
The Glens Falls Company has issued % 180,000 of first mortgage 53, see V. 69, p. 697.

—

&

Great Lakes Towing Co. Opposition.— K press despatch
from Toledo on Dec. 2 says that the owners of the Nagle and
Sullivan lines of Toledo have finally refused to enter the
combine because asked to take stock instead of cash in pay-

ment for their properties. — V. 69, p. 593.
Harper & Brothers.— iJecefuer.— George L. Rives, on behalf of directors, on Monday made application to the Supreme Court for the dissolution of the corporation of Har
per & Brothers. His application was granted and F. C. Cantine was appointed referee to hear testimony in the matter.
The State Trust Co. is appointed temporary receiver. The
assets are estimated at $6,2S2,716, while the liabilities amount
to $3,163,212, distributed as follows:
Five per cent mortgage bonds sold
Mortgage on house i6i West Twenty-liret Street

$200,000
6,( 00

*Floating debt
2,813,421
Dae to authors, wages, etc. (estimated)
66,000
Due for unexpired subscriptions, advertisements paid for
but not yet printed, etc
77,791

*About $1,100,000 of the floating debt
the mortgage bonds.

The "New York Times" says:
Harper & Brothers was incorporated

is

secured by the pledges of

and

Jersey City Water Supply Co.— Mortgage.—Thei company bas made a mortgage to the Hamilton Trust Co., as
trustee, to secure $6,500,000 of 4 per cent (M.&N.) 2.&-year
gold bonds of $1,000 each, subject to call in five, ten or fifteen years on six months" notice. The company has a contract, obtained through P. H. Flynn, to supply Jersey City
with water and for that purpose is to build extensive waterworks. Most of the water, it is understood, will be derived from the watershed of the Rockaway River.
The
mortgage covers the works as now or hereafter constructed,
lands, etc. In order to further secure tbe payment of the
interest on the bonds the water company, it is stated, agrees
to pay quarterly to the rust company, out of the water rent,
sums equal to the interest falling due semi-annually up du
tbe amount of the bonds. After 1902 the water company is
also to pay over from the water rents a sum equal to 1 per
cent of the principal, to be invested as a sinking fund for the
redemption of the bonds at maturity.
John McCarty is President, and Henry Belden, of 31
Broadway, N. Y., Secretary.— V. 6S, p. 977.
t

Lockport Gas & Electric Light Co.— Con/roZ.— Control of
company is held by the new Union Gas & Electric Co.,
which see below. The Lockport company has outstanding
$170,000 of 6s of 1894, due Aug. 1. 1914.
the

Murphy

Safety Third Rail Electric Co. Neu) Enterprise.
been incorporated under the laws of
New Jersey, with $2,500,000 of authorized capital stock, of
which $1,2.50,000 to be 8 per cent preferred. This capitalization may be increased to $25,000,000. The officers and directors are announced as follows:
OfBoers— President, Mathiaa Plum; First Vice-President, John T.

—This company has

Eaton; Second Vice-President, Charles T. Hayman, of Cincinnati;
Treasurer, Alexander Beach; Secretary, Lauron Ingels; Chief Engineer, J.

McLeod.

Directors— The gentlemen named above and John R. Ren wick, David T. Halstead, Wm. M. Keepers. George H. Carey, Wm. M. Blsset,
Capt. E. J Smith and Robert H. Beach.
Executive Board— Charles T. Hayman, Alexander Beaob, Iiauron
Ingels and President Plum, ex-officio.

—

National Cycle & Automobile Co., Ltd. Status. We are
informed that this new company is not, after all, a Canadian
branch of the American Bicycle Co., although it has acquired
pome of the latter's property in Canada. L H. Foster of
Datroit is one of the eight directors.— V. 69, p. 1150.
National Starch Q,o.—Sale Consummated —The sale of the
stock to the re-adjustment committee (ste V. 69, p. 964) has,
we are informed, been consummated, but no plan of readjustment, re-organization or merger has been decided,

upon.—V, 69, p. 964.
New England Cotton Tarn Co.— Firsf Dividend.—ThQ
t^.ompany has declared a dividend of $3 25 per share on the
preferred stock, payable Jan. 1, 1900, to stockholders of
record Dec. 20, 1899, being at the rate of 7 per cent per
annum for five and one-half months from July 15 to Dec. 31.
director is quoted as saying that the company is doing a
profitable business, and that before declaring the dividend
provision was made for the year's sinking fund requirements
and for various improvements. V. 69, p. 1009.

A

—

New Haven Electric Light
United Illuminating Co. below.
New Haven Iron &

in October, 1896, with a cap-

promptly gave to the State Trust Co. a
$3,000,000 mortgage to secure an issue of 5 per cent bonds of that
amount. It used $200,000 of these bonds to satisfy various claims of
different members of the Harper family. It pledged the remaining
$2,800,000 of the bonds with various parties as security for loans,
$2,500,000 of the bonds going to J. P. Morgan & Co. aloce, and on
this security J. P. Morgan & Co. advanced to Harper & Brothers sums
aggregating $850,000. The total amount Harper & Br.)ther8 got on
all the $2,800,000 worth of bonds it pledged was about $1,100,000.
Some $1,70(',000 of totally unsecured liabilities, bills payable, &o.,
go with the $1,100,000 aforesaid to make up the sum of $2,813,421 26
which has been put down in the schedule as "floating debt."
Regarding the receivership Mr. Rives said:
The public should understand that this is another step on the part
of Harper & Brothers to protect their creditors. Eventually the firm
will be reorganized. The assets are scheduled at over $6,000,000, on
the assumption that the business is to be continued.
The hearings before the referee will begin in March, 1900.
Justice Gildersleeve in the Supreme Court on Thursday
authorized the issuance of $75,000 receiver's certificates to
pay the wages of employes, and other expenses. V. 69, p.ll50.

ital stock of $2,000,000,

[Vol. LXIX.

it

—

Steel

Co.

Consolidation.— See

Co.— Consolidation.— A majority

in interest of the stockholders has assented to the plan for
merger of the company into the new Atlantic Iron
Steel
V. 69, p. 853.
Co., which see above.

&

—

New York Auto-Truck

Co.

Trial.

— An

auto-truck, pro-

by means of compressed air and known as the Hoadley-McKnight type, was brought last week by boat from the
International Power Works, at Providence, R. I., where it
was made, to the foot of Twenty second St. It was then run
by its own motor to the compressed air station of the Metropolitan Street Railway and re-charged, after which Joseph H.
Hoadley, W. H. Knight, Mr. Crokerand party went out in it
Mr. Croker afterwards said:
f jr a trial trip.

pelled

"This truck is 16 feet long, and has a capacity of 100 horse-power
for 15 hours, carrying 20,000 pounds. After running around a double
block several times the truck was taken for a short run up Klghth
Avenue, and then over to the Dewey Arch. Ic behaved beautifully.
In developing this truck the compressed air motor has been created
anew. The problem was greater than it was flrst supposed to be, but
to see 100 horse-power on a 16 foot truck, instantly responsive to the
man at the wheel, starting, stopping, backing, and turning, was most
encouraging."

It is said that nearly 2,000 of the trucks are now being
Independent Telephone Co. of New YQr^i..— Incorporated.
has been incorporated under the laws of made by the International Power Co.— V. 68, p. 282.
Tnis company
New York State. Capital stock, $100,000. Incorporators—
New York Belting & Packitig Co. CoZ/ed Bond*.- DebenF. Meyers, J. J. Russell, C. W. Phillios, H. Ten Eyck Wen- ture bonds amounting to the sum of £19,100 have been drawn
dell, F. Noble, J. C. Merwin, all of New York; C. Tremaine
for redemption in accordance with the conditions of the sinkThe promoter, John A. Wallace, says:
of Brooklyn
ing fund contained in the deed of trust to the Knickerbocker
We expect to furnish an unlimited service for $75 a year. Our low- Trust Co., trustee, dated Feb. 9, 1891. Payment of said
A sysest rate will be $36 a year. Our patents are something new
tem Is now being in.stalled in Syracuse in which they are used. They bonds will be made on and after Jan. 1, 1900, at the office of the
can also be seen in the University Club of this city. Some time ago Knickerbocker Trust Co., 66 Broadway, New York City, at
we organized the Inter-State Telephone Construction Co. (capital, the rate of $533 50 for each debenture of f 100. Interest will

—

$1,000,000), which will be the constructing company of all our concerns. The Inter-State Telephone Co. is organized to malntuin and
operate telephone lin^8 in the City and State of New York. It will
connect with Montauk Point and other places on Long Inland. The
new company will very probalily conttne its efforts to building a local
system, after which the suburban system will be developed. After
that is completed the Empire Co. will be organized, which will absorb
the Independent Telephone Co. This company will be the operating
concern of all the local systems, and it is intended that the capitalization of this company will be sutiiciently large to absorb other independent companies which may wish to consoliilate with it.

—

cease on Jan.

1,

1900.

-V.

65, p. 1115.

New York Loan & Improvement Co.— Reduction

of Stock.
stockliolders will vote at the office, No. 71 Broadway,
Jan. 2, upon a proposition to reduce the capital stock from
$2,189,300 in $100 shares to $1,970,900 in $100 shares. The
directors include
C. T. Barney, H. F. Dlmock, John J. McCook, J. O. Baker, Francis L.

The

:

Sill,

H

B.

Cocheu and James R. Hay.

*

December

IHE CHRONICLE.

9, 1899.]

1197

—

Nicaragua Canal Co.— Maritime Canal Co. Interoceanic W. Peck, Vincent M. Smith and Frederick P. Allen. PrinciCanal Co. Arbitration. Despatches from Nicaragua state pal office, Rochester, N. Y. The par value of shares is $100.
that the Government of that country has declined to extend
Southern States Lumber Co. Called Bonds.- Notice is
the time of the Menocal- Cardenas concession held by the given that twenty-five first mortgage bonds, viz.:
Maritime Canal Co. (a concession which the Government
Nos. 2S, 37. 42, 53, 54, .''5, 99, 118, 140, 143, 177, 178, 181, 195
claims expired Oct. 9, 1899— see V. 67, p. 1208), bat has agreed 238, 249, 288, 340, 344, 346, 470, 472, 477, 480 and 4fc9,
to submit to arbitration the question as to the concession have been drawn by lot for redemption by the sinking fund
granted to Messrs. Eyer and Cragin. It is required that the and will be paid for at the rate of
$1 ,025 per bond, with acarbitrators be citizens, and that the process be conducted crued interest, at the office of Knickerbocker Trust Co., 66
under the laws of Nicaragua enacted subsequent to the grant- Broadway, on Jan. 1, 1900, after which date said bonds will
ing of the concession. The agent of the Maritime Company cease to bear interest.— V.
68, p. 1026.
protests against these conditions, and declares that the arbiSpringfield (Penn.) Water Co.— Berwyn Water Co.
tration clause in the company's concession gives full liberty
Purchase.
Pipe Manufacturing Co.
The
for the selection of arbitrators to the State and the company. American
Springfield Water Co., it is understood, has acquired control
The facts regarding the Eyer and Cragin concession were in
of the Berwyn Water Co. on the basis, as reported, of two
the Chronicle of Dec. 10, 1898, page 1208.
President McKinley, in his annual message published this shares of Springfield stock for each share of the capital stock
($300,000) of the Berwyn Company.
week, says in sub9tance:
The Berwyn Company has also outstanding, it is underThe contract of tlie Marlttme Canal Co. was declared forfeited by
the Nioaraguan Government on the 10th of October, on the ground of stood, $500,000 of first mortgage 6s, dated 1895 and due Sept.

—

—

—

non-fulflUment wtthln the 10 years' term stipulated In the contractThe Maritime Canal Co. has lodged a protest against this action,
alleging rights in the premises which appear worthy of consideration
This Government expects that Nicaragua will afford the protectants
a full and fair hearing upon the merits of the case. On June 10a new
commission, linown as the Isthmian Canal Commission, was organized
under the terms of the Act approved March 3, 1899, for the purpose of
ezaminiBg the American isthmus with a view to determining the most
practicable route for a ship canal, with its probable cost and other
essential details.
This commiesion, under the presidency of Rear
AdmiralJohn G. Walker, United States Navy (retired) Is now carrying on examinations in Nicaragua, along the route of the Panama
Canal, and in Darien from the Atlantic, in the neighborhood of the
Atrato River, to the Bay of Panama, on the Pacific side. Good progress has been made, but under the law a comprehensive and complete investigation is called for, which will require much labor and
considerable time. The work will be prosecuted as expeditiously as
possible and a report made at the earliest practicable date.
The great importance of this woik cannot be too often or too
strongly pressed upon the attention of the Congress. In my message
of a year ago I expressed my views ot the necessity of a canal which
would link the two great oceans, to which I again invite your consideration. The reasons for early action are even stronger now.— V.
68, p. 1183; V. 67, p. 1208.

The capital stock of the Springfield Company has
1, 1920.
been $1,500,000, and its bonded debt $450,000 of first mortgage 63 of 1893 due July 1, 1922, and an unknown amount of
consolidated mortgage thirty-vear 5s, issued under a mortgage
for $3,000,000. made in 1896. The Columbia Avenue Safe Deposit Title & Trust Co. of Philadelphia is mortgage trustee.
The combined plants supply the territory between Eddy-

stone and Philadelphia, Swarthmore and Philadelphia, Philadelphia and Rosemont and Rosemont and Glenloch in
Pennsylvania. The American Pipe Manufacturing Co. of
112 North Broad St., Philadelphia (J. W. Hawley, President),

owns

control.

—

Standard Gas Co. of New York. Dividend. The directors
at their meeting yesterday took no action on the dividend.
V. 68, p. 1183.
Storage Power Co.— Officers. The following are officers:
President. Dr. W. Seward Webb; Vice-President, Harry J. Sprague;
Secretary, Edward Barr; Directors: Dr. W. Seward Webb, William L.
Ball, Andrew 6. Blair, Frederic Nicholls, Nathan A. Guilford, Frederick B. Jennings, Alfred 8. Ames, Henry L. Sprague, J. Wesley Allison, Edward Barr and William E. Prall.
The company has temporary offices in the Mills Building.
V. 69, p. 1151.
Susquehanna Iron & Steel Co.— Consolidation.- A. majority of the stock has assented to the plan for merger into the
new Atlantic Iron & Steel Co., which see above. V. 69, p.

—

Ohio & Indiana Natural & lUaminating Gas Co. Incorporation.— This company, with authorized capital stock of
$8,000,0C0, filed articles of incorporation at Trenton, N. J.,
on Dec. 6. Incorporators: C. H. Mead, Jersey City H.N.
Southard, J. R Cramford, New York. The company, it is
stated, will succeed to the properties of which Charles Dieterich is President, operating in Fort Wayne, Logansport,
Peru, Wabash, Decatur, Frankfort, Thorntown, Lebanon, 852.
Crawfordsville, Anderson, Bluff ton, in Indiana, and GreenTelephone Telegraph & Cable Co. Acquisitions.— ThQ
ville, Lima, Celina, Wapakoneta and St. Mary's, in Ohio.
company has acquired a majority of the stock of the indeThese properties are among those which it was proposed last pendent telephone lines of Westchester County, including
spring to consolidate under the title Central Union Gas Co., the New Rochelle company, which has about 300 subscribers
and about which various facts of interest were given in V. in that city and owns franchises in White Plains and Mama68, p. 186.
roneck, and the Palisade Telephone Co., which owns valuPillsbury- Washburn Flour Mills Co.— Report.— The re- able franchises in Yonkers. The Mount Vernon Telephone
port for the year ended August 31, 1899, shows net profits & Messenger Co., which has been operating for several years
amounting to £134,518. After paying the interest on the past, it is understood, has also been or is about to be
debentures there remains a balance of £84,598, which the acquired. V. 69, p. 1151.
directors propose to deal with as follows: Interest and sinkTopeka (Kan.) Federal Ueat, Light & Power Co.— Incoring fund on preference income certificates, £14,000; one poration. Articles of incorporation for this new company
year's dividend on the 8 per cent cumulative preference were filed at Topeka on Dec. 2. The authorized capital stock
shares, £40,000; one year's dividend at 4 per cent on the is $1,500,000, in shares of $100 each. The directors are:

—

;

—

—
—

ordinary shares, £20,000; addition to the reserve fund, £9,541:
carrying forward, £1,147.— V. 69, p. 1106.

Pullman's Palace Car.— Pullman Company.— iZcj^jyfed.—
The stockholders on Tuesday ratified the proposed purchase
of the assets of the Wagner Palace Car Co., and for that purpose the proposed increase of the capital stock from |54,000,000 to $74,000,000. They also approved changing the name of
the company from Pallman's Palace Car Co. to Pullman
Company, and the increase in the number of the directors
from seven to eleven. The following new directors were
then elected to the Board William K. Vanderbilt, J. Pierpont Morgan, Frederick W. Vanderbilt and W. Seward
Webb. The Pullman Co., it is said, will take over the Wagner property on Jan. 1.— V. 69, p. 905, 909.
Rochester Optical & Camera Co.— Consolidation.— This
company was incorporated at Albany on Dec. 1 with authorized capital stock $3,5C0,(00, of which $1,750,000 to be 7 p. c.
:

cumulative pref The new company proposes to purchase the
business of the following concerns or a controlling interest
therein, concerns which.it is said, manufacture about 85 per
cent of the plate cameras produced in the United States, viz:
Rochester Optical Co., the Rochester Camera & Supply
Co., the Monroe Camera Co., the Ray Camera Co. of Rochester, the Western Camera Manufacturing Co. of Chicago,
and the plate hand camera manufacturing business of E.
H. T. Anthony of New York, There will be no mortgage
on the property. The company has a contract with the
Eastman Kodak Co.. by the terms of which the latter company is made sole trade agent for the new company for the
United States, and the Eastman E^odak Co. agrees not to
make plate cameras for sale in the United States so long as
this contract remains in force.
It is estimated that the profits will pay 7 per cent on the
$1,350,000 preferred and 10 per cent on the $1,250,000 common
stock now to be issued. Pnblic subscriptions for 6,510 shares
of the preferred stock at par will be received on Dec. 11
and 12 at the Central or German- American Bank, Rochester.
The officers include
W. F. Carlton, President: H. B.
Carlton, Treasurer. Directors— William F. Carlton, Harvey
B. Carlton, Rufns K. Dryer, Benjamin E. Chase, Edward

John A. Klelnhane, John Martin, M. Snattinger. W. C. Stephenson*
Q. B. Payne and Jas. M. Padgett, of Topeka; L. F. Randolph, of Nortonville; F. White, of

Arkansas

City.

Union Gas & Electric Co. of New Jersey.

italized as follows:

Chicopee (Mass.) Gas-Light Co
$75,000
Dedham & Hyde Park (Mass) Gas & Electric Lt. 80,000
Bay City (Mich.) Gas Co
200,000
Lockport (N. Y.) Gas & Electric Light
150,000
Glens Falls (N. y.) Gas & Electric
165.000
Colorado Springs (Col.) Light & Power
250,000

Bonds.
$60,000
28.000
165,000
170,000
180.000
245,000

$905,000

$:48,000

stock.

.

&

:

—

This company, with $1,250,000 of authorized capital stock, of which
$250,000 is preferred 6 per cent cumulative [subject to call
after ten years at 110], was organized in the summer of 1899
for the purpose of acquiring and controlling gas and electric
light properties in various parts of the United States and for
developing and improving them. Tne company now controls six gas and electric lighting companies, which are cap-

Total

The above bonds are
which are 6s.

all

5s except the

Lockport bonds,

Bertron & Storrs, of No. 40 Wall Street, in a circular, say•'The aggregate population of the six cities is 140,243. The
companies are now earning at the rate of $107,500 a year cet,
and it is expected will earn not less than $140,0(0 during 190O.
The Union Gas & Electric Co. has no bonded debt whatever
and the preferred stock is a first lien on its assets, which consist of the controlling stock holdings in the constituent companies by virtue of which they are operated. The company's position on basis of present earnings is as follows:
Present earnings
$64,650
$107,500 Net surplus
Interest on bonds
42,880 DlTldend on $250,000 6%
I

|

preferred stock

15,000

I

$64,650 Bal. for common stock... $49,6£0
properties have been acquired by the
exchange of their stock for the common stock, only a portion of the preferred stock being used; $100,000 of the preferred stock is offered for sale [part of it at 103 flat] so that
the company may have sufficient cash capital to operate the
separate companies on the moet economical basis. Directors;

Netsurplus

"The above-named

|

THE CHKONICLE.

1198

S. R Bertron, BeDjamin Grabam, Richard S.
Frank 8. Butterworth.
United Illuminatiug' Co. Consolidation It is annonnced
in New Haven that this new company will prfpently tai'e
over the properties of the New Haven Electric Light Co.. the
Bridgeport Electric Light Co., the Brid|;eport I iuminating
Co., the Stratford G<i8 «fe Electric Co. and the Wrt^tbaven
ng:
Power Co., and probably some Rdditionalcompsuies.
Ailing and
those interested are: James E, English, John

[Vol.

Abraham M. Hyatt,

Storrs,

W

REPORT OF THE SECRETARY OF THE
TREASURY.

Am

Herbert C. Warren.
Both the New Haven and Bridgeport companies have been
paying dividends at the rate of 8 per cpnt per annum, the
former on $400,000 and the latter on |250,000 of capital t-tosk.
Franchisee only are purchased in the case of the Stratford
and West Haven companies.

"W*^

N.J.

give below extended extracts from the report

Mr.

of

Lyman

Grage, the

J.

Treasury Department,
Washington, D. C, Dec. 5, i899.

warrants) for the nscal years ended June

were

of the

—V. 69, p. 1017.
Co.— New Plant. —The proposed

company's system.

Westingliouse Machine

new plant is described as follows:
A steel foundry and steel forging plant

will be built early next
spring at East Pittsburg at a cost of about $1,250,000. The pi inr
will have a capacity of about 8'| tons of steel castings and forcings a
day, and will make the company the only concern in the United
States which manufartures everything forirs engines excf-pt the pig
Iron. The steel foundry will he about 400 ft. long and 200 ft. wide,
with two 40-ton open hearth furnaces. The plant, will have a daily
capacity of about 75 or 80 tons of ca.stings aud ingot-. The forging
shop will be of the same length as the foundry and wld be so Joined to
it that the operations in the two buildings will be continuous.
The
forging fhop wi 1 be about l.'iO ft. wide; it is expected to make engine
forgings of all sizes up to 20 tons each.— V. 69. p. ^54.

—

York, Pa. (Independent) Telephone Co. Bonds Offered.
Connections. Cost of O/jen/fmg.— Eiward C. Jones & Co
ofifer at 102i^ and interest a block of this company's $iOO,000
(present issue $150,000) first mortgage five per cent bonds
(free of Pennsylvania State taxes), dated Nov. 1 1^^991 due
Nov. 1, 1929, interest M. and N., denomioation $5'
each.
Security Title & Trust Co., York, Penn., trustee. Presi
dent C. A. Eisenhart, under date of Oct. 2, wrote the banbers

—

substantially as follows:
To provide for contemplated improvements and to defray expenses
incident to extensions just completed, the capital stock of the company has been increased lo .+200,0. 0, in shares of $10 each, and an
issue of $2t 0,000 1st mortgage bonds has been created, of which only
$150,000 will be sold at this lime, the balance, $.ii>,000. nt-ins; reserved for futnreimprovements, extensions or property acquired. T e
number of our subscribers has been as follows: End of first year. 5 7;
second year, 750; third year, 1,040; at this time, 1,300. We have 130
miles of polemileage (against 61 iuil»-8 at end of tirst year), an'* have
erected upwards of SOOmilesof single wire and 3.T.000 feetof cable, the
latter containing from 15 to 100 pair, the average beng over .so pair
We receive an average ren al of at least $20 from our p .trons, and
in adiiition derive considerable income from oni toil line to H^'nover.
Our lines reach ev. ry place of any importance in the county. We also
connect on one of our toll lines with Hanover, (iettysimrg and all of
Adams Couuty, Penn., and ou another toll line with Dil nhu'g. Meohanicsburg, Carlisle and Shippeusburg. Connection, at consideraiile
expense, hos just been completed over a toll line with the Columbia
Telephone Co. of Lancaster County, and through it with the Lancaster County Telephone Co., which affords us telephone faeiluies
throughout Lancaster C mnty. Thence we reach all of Lebanon
County through the Lebanon Telephone Co., and Berks County
through the leading Telephone Company In the near future we will
connect with Chambersburg and Waynesboro, Penn., and Haterstown, Md.
We have just added to our plant a new mntlple switch board, and
will within a week or ten days be able to furnish a service thiit cannot
at this time be excelled. As w*- now have over 1,300 cubscriberw and
have Just made tiie connections, m^ntioned, irom which a \eiy considerable revenue in tolls will be received, and as our suhscribers will
be largely inci eased on account of the Lancaster, Lebanon and Kerks
County connections, I stimate our earnings for our next fiscal year
as follows: Gross earnings, $30 000; maximum operating exp< nses,
$10,000; net earnings, *20,0tiO; interest on .*150.000 bonds at 5 per
cent, $7,500; surplus applical>le to dividend on stock. $12,500. Tlie
operating expenses above stated are In excess of our present charges.
<

—V.

t

9, p.

909.

in the advertising

issued monthly.

1893.

:i06,l ^8,481

75

14M.5 t.0d235

6,164,25624

4,756,469 71

on sealskins and rent of seal

1.11«,91134
1.476,15 00
82x5^4 74

islands
Sales of Indian lands
Pales of Govtrnineut property
S lies of public lauds
Distiict of Columbia
Nnvy pension & II vy hospital funds
Fees—consular, etters patent and

576.687 41
224, -tSl 32
1,243,12942
3.' 93,2S2 98
1,146,590 41

l,6-'8,'2468l

4,016,531

.^7

1,343, 5Ji3 "S

2,639,-5054
v:9,154 30
57H,.87 50
3o6, 92 86
i
3 049 08

2,305.43535
157,f^71 50
66«,07.^09
393.439 VI
128,V38 70
2-4.887 37

i

7'«l."8683
,'i2s286 13
9 ,27,, 95

441,24670
32,756 10
1,912,4

125

1,

l,li<r

352 96

94.^38 59
102,394 87

50192

Keimbursfmeut for cost of water
supp y. Di>trictof C luinbia
Maleo< Union Pa. Itic RR
8aleof Kai.has Paoitlo KR.
Part payment Central Pacific RR.

P3,08698
58,448,223 75
6,

>03,000 00

11,798,''14 14
95,021,384 17

8901^61855

$610,982,004 35

$494,333,953 75

ind^biedm-ss
Postal service

Total

The expenditures

for the

same periods were:
1898.

1899.

For (he

'7.5,84^28

10-,612 49

23
9S7,S5636
82,33^42
87,>*38

civil ei-tablishment, includ-

foreitn intercourse, public
inif
buildings, CO l''CiinK the revenues.
District of Columbia and other
..
... $90,979,685
miricel aneous expenses..
For the military estaolishment. inoludins; rivers and harbors, forts,
arsenals, hcacoast defenses and
.. 229,S41,254
expei>pe.-< of the rtpani^h war..
For the n^^val esiaiilishmeut, includinsr coiistruction of new ves-

$8P,016,464 75

47

91,992,000 29

63,<'42,104 25

machinery, armament, equipment. im|iroveinenls at navyyards and expenses of theSpanifh

82

58,923,984 80

sel <,

wfir

20,00 , 00 00

For treaty ohlii^atbms with Spain...

F

r

For
For
For
For

12,805,71114
Indian Service
Ib9,39 ,929 O^
penslcms
debt. ...
3H. 896,9 5 02
iiiteret oi> the public
8,211, f>70 08
deticiency in po.-tal revenues...
95,021.384 17
Postal Service

10,09 1,667 70
147, 5 ,3' 8 61

$700.093.564 02

$=>'. wi.^oi 35

Total expenditures

37,5^5,056 23
.O40 42
10,
89,012,618 55

$^K.0i7,<!47 60
$89,111.559 67
Showing a deficit of
the revenues collected during the year
In addition to
and the amount received in part payment of ti>e indebtedness of the Central Pacific Railroad, the cash in the
Treasury was increased by the following sums: From
subscriptions to the 3 per cent ten-twenty bonds issued
under authority ot the Act of June 13, 1898, for the Spanish
war expenditures, $'98,678,720; from national-bank fund
deposited under Act of July 14, 189f>, in excess of bank
notes redeemed, $5,334,234 50, and from the issue of 4 per
cent bonds in liquidation of interest accrued on refunding
certificates converted during the year, $i,560, making a

total of $304,005,514 50.

*

*

*

FHCAL YEAR

1900.

The revenues of the Government for the current fiscal
year are thus estimated upon the basis of existing laws
000 00
$2 SO
From custon.8
29 ,o(iO,i 00 00
From internal revenue
2=>,000 000 00
From mU^ceilaneous sources
:

100,k5s.112 00

From po-tal service
Total estimated re venue

for the

$640,958 112 00
as

same period are estimated

follows

condition Dec. 2

columns of this issue
New York— American Exchange, City, Market and Falton, Gallatin, Continental. Mercantile and Fourth National
banks and B-ink of America.
Philadelphia— Fourth Street National.
The report of the Chemical National Bank of New York
will be found on the last page of the Quotation Supplement,
:

1998,

$170,900,641 49

etc
-I

and

.51

Customs
Piottts on coinage, bullion deposits,

T X

30, 1899

1899.
$273,437,161

Source.

Internai;revenue

The expenditures

— The following banks publish reports of

\

:

J.

come a part

)

Sir— I have the honor to submit the foil-owing report:
RECEIPTS AND EXPENDirURE-».
The revenues of the Government from all sources (by

Change Alley, Cornhill, London, E. C.
United Teleplione & Telegraph Co.— Under One Manage
....
land
meiit. — The stockholders at Baltimore on Dec 5 vote! to
Depredations on ub ic lands
take over the Maryland Telephone & Telegraph Co. of Balti
Customs fees, flues, peualties, etc.
more and the Pittsburg & Allegheny Teh phone <S Tele- I.uiiiigrantfund
graph Co. of Pittsburg, both controlled by interests identi- Deposits for siirveyintr pub ic lands
The latter has also, it is un- Siiikins fund for Pacitio railways...
fied with the United Company,
Payment of in erest liv '^aeitlo Rys.
derstood, secured control of the Delmarvia Telephone Co.. Salesof lands and buildings
which operates in Wilmington, Del., and vicinity. The Tax on national bank.-.
Washington Telephone & Telegraph Co. was chartered last SoMiers' Home, permanent fund...
Mii^CHllaneous
week and will apply to Congress for a franch'se to establish Silesof ordnance n>aterial
an independent exchange in Washington. This will also be- Donations
Office, 2

Secretary of the United

StHtes Treasury:

United States Brewing Co.— Dividend.— The dirpctoru in
London recently resolved to pay an interim dividend on the
ordinary shares of 68 per share, less tax, being at the rate of
6 per cent per annum, for the six months endin^^ S-pt. 3'\
payable Jan. 1. The profits for this hal*-year show a sm 11
increase over those of the corresponding half-year in 1>*98.
The common stock is £350,r00 (par £10); preferred 8 per cent
cumulative, £350,000 (par £10); debenture 6s. eu inject to call
at 110, £400,000. Dividends on the common stock were for
several years 10 per .cent per annum. The company was organized in May, 1899, and acquired control of the following:
Albany Brewing Co., of Albany; Adolph G. Hupfel, New York Clt'
Gottfried Krueger, Peter Hauck <& Co. and Christina Trefz, Newark,

^otnmtnls.

ixn&

^jep^otts

—

LXIX.

Foi the civil establishment
For the military estaiiliwhinent
For the naval establishment
For the In ian service

For pensions
For interest on the public debt
Forpostal service
Total estimated expenditures

Or a surplus

of

$100.ooo,000 00

00
00
11,000.000 00
14>,<>o0.OO0 00
40,0 0,000 00
100,i».^8,H2 00
1.50.000,00)

.55.<>0O,000

$00 958 ,112 00
$4O,uO0,O0O 00

December

9,

THE CHRONICLE.

1899.]

FISCA.L

YEAR

1199

Important changes took place during the year in the comand distribution of the stock of money. The

1901.

position

It is estimated that upon the basis of existing laws the
amount of notes and siiver certificates in circulation was inrevenues of the Government for the fiscal year 1901 will be
creased by $43,828,386. reducing the paper holdings of the
$235,000,000 00 Treasury to the minimum required for the transaction of
From customs
300,000,000 Oi)
From internal rfivenue
The outstanding Treasury notes of 1890 were cut
25,000,00" 00 business
From miscellaneous sources
107, 173.253 2 down, bv cancellation on redemption in silver dollars, from
From postal service
This process, however, did not
8101,207,280 to $93,518,280
$667,773,^63 92 involve a contraction of the currency, since the coins paid
Total estimated revenues
The estimates of appropriations required for the same out for the notes either remained in circulation or were rethe Treasury for silver certificates. As the
period, as submitted by the several Executive Departments deposited in
volume of the paper currency is fixed by limitations, the
and offices, are as follows
depletion of the Treasury holdings made it nec'^ssary to
:

v

:

$4,559,028 05

Legislative establishment
Executive establisliment—

Executive proper
State Department

Treasury Df-partment

War Deparrmenr
Navy Department

$257,140 00
162,030 00
9,92'',781 ^0
2,32fi.3«'6 00
734.181 26
4,976,4 4 00
977,1^9 "0
4,106 257 00

manv requests, most of them for small denominawhere the application was not accompanied with a
Precaution had, however, been taken to
tender in kind
provide a liberal supply of small notes, and they were
always sent out when desired in redemption of unfit currefuse

tions,

rency.
In consequence of these operations and the increased use
of gold, there was a noteworthy addition to the denominaDepa'tmentof Justice
231,05000
tions of $20 and under in active circulation. In the year
Department of Labor
172,980 00
23,872,778 86 ended September 30 last the increase in the amount of paper
Judicial establishment
692,190 00 money of these denominations outstanding amounted to
l,89=i,«48 76
Foreign intercourse
Militaiy establishment
128.170.-83 4 $58,P65,416, while the increase of the gold coin in the hands
Inclusive of
Naval est ablishment
58,425,334 83 of the people was estimated at $23,911,373.
Indian affairs
6,80 .?>26.=>2 the higher denominations of paper, the total increase of the
Pensions
145,230,230 00 active circulation, reckoned on same basis, was $125,751,014.
Public works
In the Hscal year the offices of the Treasury paid out $42,.
Legis ative
194,400 00
$ J,
Treasury Department
7,69^,329 53
532,296 in standard silver dollars, an increase of $1,700,147
War Department
50,988,27149
over the previous year. The receipts in the same period
Navy Ijepartment
15,819,974 32
were $37,581. ('40, a decrease of $16,426,894. By September 30
461,0=>0 <iO
Interior Department
Department of Agriculture
200,000 00
the continued demand for these coins carried the total in
Department of Justice
55,000 00
circulation to $68,755,243, the highest amount ever reached.
76,416,025 34
Similar activity in the call for subsidiary silver coins, of
Miscellaneous—
which the Treasury received 836.593,199 and paid out $40,Lngislative
$4,182,329 74
Treasury Department
14,97n,8?i8 53
189,375 during the same period, gradually reduced the
War Depaitment
4,926,630 00
Treasury holdings, until at the close of the year only $3,Interior Department
12,34 ,98130
070,497 remained on hand. In the ensuing three months the
Department of Justice
5,210,900 00
District of Columbia
7,657,773 31
continuance of the demand decreased the Treasury stock to
49,300,952 88 $2,4"7,571. The amount estimated to be in circulation on
Postal service, including $3,004,546 08 deflciency in
posral e venues
110,777,800 00 the 30th of September was $74,045,762.
Permanent annual appropriations
The receipts of gold at New York from customs amounted
Interest on the public debt
$40,000,000 00
for the fiscal year to 78*5 per cent of the whole, as compared
Retundiug— customs, internal revewith 20 4 per cent for 1 898. For the first quarter of 1900 they
nue, etc
7,244,000 00
rose to 84-5 per cent. In the aggregate operations of the
Collec'ing revenue from customs
500,000 00
Miscellaneous
26,968,2<c0 00
Treasury the receipts of gold in 1899 amounted to 37 "6 per
79.712.220 00 cent of the whole, and the disbursements to 35*37, as compared with 10-03 and 11-83, respectively, in 1898. For the
Total estimated appropriations, exclusive of sink$R85.a=;?.448 78 quarter ended September 30 the percentage of gold reing fund
Or an estimated deficit of
$la,08o,iy4 86 ceipts was 38-5 and of the disbursements 352. While so
large a part of the Treasury's business was transacted in
Since the expenditures of the current fiscal year will gold, and while large additions were made to the coin in
probably not exceed $600,9o8.112, it is confidently believed outside circulation, and are estimated to have reached $7" 2,that C ngress, in reviewing the requirements of the various f 60,459 on July 1, 1899, the gold holdings of the Treasury
executive departments for the fiscal year 1901, now placed have exceeded all previous records, both in the aggregate
at $685,853, 44« 78, will be able to reduce the estimates sub- and in the net amount above outstanding gold certificates.
riiitted to such a point as will bring expenditures within the
On September 30 the gross amount of gold com and bullion
estimated revenues of §667,773,253 92 and leave in fact a
the Treasury was $353,00-^,380, and the net $254,328,821.
fair and substantial margin for surplus.
The maximum net gold was $258,081,565 on October 12. The
hisrhest previous records for the end of any month were
OPERATIONS OF THE TREASURY.
$332,551,306 and $218,818,253. respectively, the former in
The transactions of the fiscal year, as shown by the report September and the latter in March, 1888. The gross on
of the Treasurer of the United States, were of unusual mag- October 31 was $379 817,316.
*
*
*
*
*
*
»
nitude, the net ordinary receipts having been exceeded in
any like period but once, in 1866, and the net ordinary exTHE STANDARD OF MONEY.
penditures but thrice, in 1863, i864 and 1865. Inclusive of
the amounts involved in the issue and redemption of bonds,
The state of the Treasury, as shown in its proper place,
notes and certificates, the gross receiots. under warrant, exhibits a degree of financial strength never before equaled.
were $1,038,451,340 18, and the gross expenditures, §946,222,- It places the Government in a position, more favorable
148 83. Theie was in consequence an addition of 893,2.^9,- than has before existed, to take any steps Congress may
191 35 to the general Treasury balance, which increased consider wise toward inaugurating needful imorovements
from $775,751,368 11 to $867,98 ,559 46 * * *
in the currency or judicious modifications in the banking
While there was a deficiency of $89,111,559 67 in the ordi- laws. There are two points to which public attention has
nary revenues, the excess of receipts over disbursements on long been directed and upon which legislative action has
account of loans was sufficient to real ze a net surplus of been earnestly desired. These ?re, first, the money stan$100,791,521 35 as the result of the fiscal operations of the dard, and, second, a better adaptation of our currency sysyear. This substantial addition to the available resources, tem to the requirements of expanding trade and industry.
together wi'h the steady advance of the receipts froii taxa- Both of these questions are of prime importance to our
tion to an actual excess over current needs, has relieved the well-being as a people, and demand the consideration which
Treasury of all danger of difficulty from sudden emergency. their importance justifies. Upon the.-^e two questions I feel
Nor was the growth of the available cash balance, which it my duty to speak with earnestness.
Gold now constitutes
stood at $284,488,516 20 at the close of the year, more wholeFirst, as to the mooey standard.
some th^n the improvement in the charact r of the as->ets, that standard. It is now, and for many years has been, the
which were converted into gold as far as statutory and standard by which the values of all commodities, whether
other limitations would permit.
foreign or domestic, have been measured or declared. It is
The receipt of the proceeds of the war loan extended from tlie standard to which reference has been had in all conJune, 1898, to Aoril, 1^99, although the bulk of the sub- tracts or vmdertakings involving the future payment of
scriptions was fully paid within the first four months.
Of money. It is the standard which tests the quality or value
the total of nearly $200,000.00'^, no less than upward of of the intermediate currency with which wages are paid
$125,000, 00 was remitted by means of checks od banks in and all, or nearly all, of the minor business affairs of the
all parts of the country, which were collected through the
people are carried on. The debate overthe relative merits of
Washington office. This fact, with the further circum- gold and silver as the true and proper money standard has
stance that the remainder, which was paid in cash into the been Ion and exhaustive; but while the discussion has connations of the earth, one after the
offices of the Treasury, was divided among them very tinued the adanced
nearly in proportion to their ordinary, business, shows how other, with hardly an exception, have adopted gold as the
evenly the whole country was represented in the subscrip- more suitable for commercial needs. Indeed, it is vigorouslj
tions
Although the Department made no preference of asserted, and with truth, that the United States is in this
one kind of money over another, the tenders of gold ex- very category that our money standard is gold and with
ceeded those of any form of paper, and amounted to more some show of reason it is argued that nothing is required
than a third of the total cash payments.
other than to "let things alone." Such a conclusion, howInterior

Department

Post OfflcH Department
Departmpni ot Aariculture

I

.=>,

m

—

—

THE CHRONICLE.

1200

ever, does not commend itself to the judgment of those to
whom stability in the future is not less important than
good conditions in the present. More and more, as society
advances in its power over nature and in the complexity of
its industrial relationships, the present and the future are
woven together. The 300-ton craft, built of wood, that
once might have realized the investment cost in a single
voyage to the Indies, has been succeeded by the 10,000-ton
steamship, built for years of service. The one was the
product of a few men's hands, wrought with rude tools in a
brief period of time. The other embodies in itself every
diversity of skill, and science and art. The one could safely
venture its small investment in the hazards of a distant
trade, even though barter was the rule of the exchanges.
The other, combining in itself a vast aggregation of capital,
must enter the service of a modern commerce, where enormous volume at lowest cost of carriage is the fundamental
condition of success. The one was under the law of high
hazards, with great possibilities of profit.
The other is
under the law of conservative safeguards against a risk of

—

small rewards and uninterrupted employment. The illustration is applicable to modern industry in all its forms.
The one word most important is stability stability of conditions: and the most important feature to that stability is
an established money standard, and so established that it
can not be subverted or changed by any hasty or ill-considered action.
It has long been the desire and hope of many intelligent
and patriotic citizens to secure needful and enduring stability in the money standard by an international agreement in regard to gold and silver, which would be effective
to that end.
The realization of that desire and hope seems
now too remote to justify present consideration; but if
those who still cherish it shall offer it in objection to the
action above proposed, it is a sufficient answer to say that
stability on the gold st indard is the only stability now possible to us. and if the time should come when inttrnational
agreement offers a safe and desirable substitution, the freedom of our representative form of government will give to
our people the liberty of choice.
If it be true, as true it undoubtedly is. that gold is now
our standard of money values, the future needs only the asfurance that it will so continue to be, until at least the people shall be so united in their desire for a change therein as
to be able to direct the voice of both Houses of Congress
and secure the approving signature of the Chief Executive.
The confidence that Congress will furnish this kind of a
guaranty has inspired enterprise, called capital into use, improved the condition of labor and given new impetus to all
our energies. To make this favorable state of affairs permanent, the highest security should be given that the common denominator of all calculations .in value shall remain

—

unchanged.
It is evident that a direct and effective way to do this
would be to declare that the credit obligations of the Government itself, whether paj'able on demand or at a future
period shall be paid in gold coin of present weight and fineness; or it would be equally effective if, by positive law, it
were made mandatory upon the Treasury Department so to
pay and receive the two kinds of money silver and gold
as to maintain their parity under all conditions. Such action
would be in logical conformity to what has already been
established as the "policy" of the Government. To the end

—

contemplated, the Treasury should be clothed with sufficient
powers to meet all emergencies. The establishment of an
ample fund, separate and apart from the general funds, to
be held specifically as a redemption fund for demand liabilities, must be an important incident to such legislation.
The recommendations of the President in this particular, if
formulated into law, seem to be adequate.

BANKINa AND CURRENCY.
In the beginning law took no cognizance of banking. It
arts and trades
society reached
a stage where man could put confidence in man, credit was
born. The jn'oducer or owner of property became willing
to pass its ownership to another against the buyer's promise
to pay its equivalent value at a future time. Thus an enormous step forward was made. Brain and brawn, united to
character, could then gain the use of the tools of production, and with their aid could win from the reluctant soil
the value for the re-payment of their cost. Ability, borrowing capital, could create capital. Thus the accumulations
of society advanced from the rule of addition to that of multiplication. 'Ihe men who desired the power which credit
gave increased in number, and under the same law which
developed the division of labor and the specialization of
industry the dealer in credit became specialized from the
dealer in goods
The man thus distinctively separated became known as
the banker. Of necessity he was a man of property and of
acknowledged responsible character. His obligation was
effective for the exchange of goods, and those of lesser repute or standing found it to their advantage to borrow his
credit in exchange for their own. Possessed of financial
resources of his own, represented largely in cash or money,
it became natural for him and advantageous to the community that he should pay for local products at the point
where they were produced, to take his reimbursement at
some distant point to which they might be shipoed and

grew into being as, in a free condition, the
and divisions in labor have grow^n. When

sold.

[Vol. LXIX.

He further became a natural temporary repository of
money of others, and this aided him to perform in a
way his particular function. The above describes

the idle
larger

he did then.

describes all he does now.
his effective credit for the less
effective, or elsewhere ineffective, credit of those with
all

It

Summarized, he exchanges

whom

He makes payment for goods in one place,
his pay in another.
He makes payment for goods
purchased at distant points and takes his reimbursement
at his home point, where they are bought and consumed.
He receives deposits of money. These deposits, together
with any unused balances of credit due to others, are evidenced by proper entries on his books. He carries in his
money chest a percentage of all the obligations thus evidenced sufficient to meet the calls for cash from such of
his creditors as may require tliat form of payment. To such
he deals.

and takes

as could be well accommodated thereby he formerly gave
his notes of hand, convenient in size and denomination.
To this list of operations carried on by the banker nothing can be added
It comprehends all his functions
It
will be observed by the thoughtful that in no one of these
is he able to operate except in compliance with the desires
of those with whom he deals. He is powerless to take the
initiative in any of them.
Whoever deals with him does it
of choice, and not in obedience to any power of coercion
the banker can exercise. Of all the members of the community he is the one the most dependent. In the degree
that he operates his function, to that degree he becomes a
debtor, with all his liabilities immediately payable
He is
under the highest bonds of self interest to so carry himself
as to win and retain the respect and confidence of his constituents and dealers.
failure on his part in this respect
means disaster to his business and ruin to himself. Holding claims against the community, the value and solvency
of which depend to a large degree upon continued activity
and industry in trade, it is his interest to promote, as best
he can, the conditions favorable to the prosperity of the

A

community.
It would appear, then, that the banker as a private person might be safely left to pursue his calling without interference from the law, because it is evident that his own interest, if wisely considered, will guide him in those directions which it would be the policy of good laws to direct
him to take.
With the growth of society, the increase of capital, and
the increased demand upon the banker for the services he
alone can render, the individual became powerless to meet
fully the requirements of a developing situation. As in
other departments of life, the strength of the individual
was increased by association with his fellows The delicate nature of the duties involved, together with the large
responsibilities and many hazards which time and experience had shown to exist, made these co-operating individuals reluctant to stand fully and personally responsible.
To limit their individual risks, they sought authority
from the law-making power to incorporate, with the limit
of personal liability strictly defined. In this respect they
followed the example set by associated efforts in many
other forms of enterprise and industry. In this way only
could the full power of association be utilized. Now, when
the banker was thus given partial exemption as to responsibility, it became the duty of the law to put proper and
just limitations upon "' the exercise of his natural prerogatives ' Exempted to a degree from the perils of ruin by the
limitation of pergonal liability, it was right that this exemption should be accompanied by such limitations of his
powers as the interests of the public should require. With
limited responsibility, he was properly limited in the risks
and hazards he might assume. The justice of this will nowhere be denied. The question for examination is not
whether limitations and prohibitions should be laid, but
whe'her they are wisely and sufficiently imposed.
The development of our legislation dui'ing the last thirtysix years, which covers the history of the National Banking
Act and all amendments thereto, has thrown upon Congress a large responsibility for the effective working of that
agency known as the bank. There seems to be, in some
directions, an opinion tli.it by the grace of government
these institutions are established as a privilege to certain
persons so favored: that they have no real occasion to be;
that at best they are parasitical plants, drawing life and
nourishment from the industrial tree to which they are
attached, and to the well-being of which they contribute
nothing. If this were tru", no duty could be more immediate than to appeal all laws which give them existence,
and, by one s^veeping prohibitive act. forbid the exercise of
their function. Whether it was wise for the General Government to legislate at all concerning them it would be
useless now to discuss. It is sufficient that this has been
done, and by action, permissive in certain particulars and
prohibitive in others, there have been evolved some 3,500
national banking institutions. Like other agencies which
time has developed and made operative in the natural relations of men to each other, banks are valuable for the
service they perform for the social whole. They are to be
considered in this light alone. They ought neither to be
made recipients of public favor or bounty, nor unduly constrained in those particulars where a proper liberty will
insure to them a needful power for useful service.
In a government where the imperial edict can not be
questioned, explanations are superfluous, but in a govern.

i

December

THE CHKONICLK

9, 1899,]

1201

naent of the people it is most desirable that all the people would be a natural, economical and effective operation is
should understand the motives of action which govern the by the inhibitions and restrictions of law now made imposmakers of the law, and be suflBciently wise to comprehend sible. In a state of freedom, the extraordinary wants of
the scope and range of legislative dealing, so as to approve the country at harvest time would be largely, if not wholly,
that which is right and condemn that which is wrong.
met by the conversion of bank balances, not available for
It is especially important that the legislator himself these general purposes, into bank notes or paper money.
should have clear conceptions of the truth, and since that These, performing their function, would again return when
great, far-reaching influence covered by the term banking their service was ended, to be again transformed into "balhas come so largely under legislative control, it is doubly ances in bank." where, through the medium of checks and
important that we understand the force and effects of that drafts, the larger commercial uses would be better served.
agency, that we should know intimately how it works in its
I have said that the present inhibitions and restrictions
details, and comprehend the direct and reflex benefits, or of the law make this natural course impossible
The proevils, of the measures which may give liberty or impose re- hibitive tax of 10 per cent upon the notes of State banks,
pression.
and the unreasonable restrictions and conditions imposed
Important as is the establishing of our money standard upon national banks as a condition of note issues by them,
upon a safe and endurmg basis, important as is the guarding are pointed to in justification of this statement. I cannot
of the national demand obligations by adequate reserves, do better, perhaps, than here to illustrate the argument by
these alone will still leave our financial system exposed to recent financial history. I take tbe facts from New York
evils which ought to be cured. These evils arise out of our records
They are the most complete and the most instrucsituation as it relates to the currency.
tive, although anj- other commercial centre might be seWhile stability in the currency should be safely guarded, lected for example. On August 26, last, the banks of New
flexibility
the power of needful expansion —must also be York held in "deposits" Ke.. unliquidated debts to the
provided. The exercise of this power, with proper limita- public the large amount of $858,000,000. They held claims
tions and restrictions, must be intrvisted to the bank. against the public (outstanding loans) amounting to $756,There is no other agency that can wisely and efficiently ex- OtO,000. They held in cash — that is to say, various forms of
ecute it
In fact, the banks do exercise that power now in money legal tenier by law upward of S23~.00(>,0('0. The
regard to the larger part of that element which, rightly relation of things to each other was apparenth" normal and
understood, really constitutes the currency. It is a popular satisfactory. The merchant or the manufacturer or the
delusion that the bank deals in money. Money is an inci
general dealer could exchange his obligations with the bank
dent in its dealings an important incident, no doubt but, for the bank's obligation to him through a credit upon its
truly speaking, an incident only. The bank deals in credits. books at the low cost of 2}y^, 3 or
per cent per annum.
For a consideration, varying according to time, place and The "reserves" of the bank, 'that controlling factor which
circumstance, it gives to the public ^vith whom it deals its finally limits their power to expand credit operations, were
own debt obligations in exchange for the debt obligations ample. About this time a new influence made itself felt.
of its dealers and customers. The obligations of the bank Bankers and merchants living in the interior or the farther
thus created are generally evidenced by a credit upon its West, who owned or controlled a portion of the credit balbooks to the dealer, who has the right to draw upon it by ances standing on the books of the New York banhs,
his checks or drafts as his convenience may be served
needed to realize to some extent their balances in a form of
The constant interchange of credits between the bank and credit obligation which would be convenient for the payits dealers, with the enormous volume of checks and drafts
ment of harvest hands and the other incidentals of crop
constantly passing between buyer and seller, constitutes in gathering.
the broadest sense the currency of the country. It is these
These conditions were known to my distinguished predeinstruments which trade uses in much the larger part of all cessor, (Secretary Windom. He was familiar by experience
Money— real money, gold or silver— plays with affairs in the great industrial centers no less than he
its operations.
but a small part in the multitudinous exchang-s. The was with the needs of his own State, famous for its agritotal money of the country- metallic and paper— is less than culture, and weight should be given to this authoritative
two thousand millions, while the "'deposits" of the com- declaration, which is to be found in his annual report for
mercial banks. State and national, aggregate more than the year 1890
four thousand millions.
In my judgment, the gravest defect in our present financial system
Whence comes this excess of two thousand millions on is Its lack of elasticity. *
The demand for money, in this coundeposit? It represents, as, indeed, does the whole deposit try, is so irregular that an amount of circulation -which will be ample
during ten months of the year -will frequently prove so deficient durfund, the unused credits belonging to the bankers" public, ing the other two months as to cause stringency and commercial distemporarily at rest in the bankers' hands. But the period aster. * • • The crops of the country have reached proportions so
of such rest is extremely short. Through the clearing Immense that their movement to market, In August and September,
annually causes a dangerous absorption of money.
houses of the country this great fund is each month invaded sufficient suDply to meet the Increased demands during The lack of a
those months
by checks and drafts to the total of more than eight thou- may entail heavy losses upon the agricultural as well as upon other
sand millions. By this calculation, in one-half of one month business interests
If the New York banks could have issued their notes in
the whole deposit fund would be exhausted; and so it would
were it not that the recipients of these checks themselves the form of paper money they would have furnished them
prefer a credit upon their bankers' books. Thus it come.s and thus discharged the credits standing upon their books,
that these checks and drafts are rather instruments for the and this would have entirely satisfied interior and Western
transfer of property and credit than for the realization of needs. In that case there would have been no expansion of
money. They, however, perform in our domestic com- credits. By so much as notes were issued, by so much book
merce and trade the same function that the dollar note of credits would have been canceled. The bank statement
the Government or the fractional silver coin performs that would have been expressed in different form, with no ma"Deposits" would have diminished,
is to say, they are the agency by which goods are passed terial change in fact.
from one to another and by which trade accounts are set- "circulating notes," by so much, would have been intled.
Thus it would appear that in the department of our creased, the total would remain the same. The cash "recommercial life, where checks and drafts and bank credits serves," remaining unaffected, would have continued to be
constitute the real currency, the movement of expansion a sufficient guard to liabilities, and the course of the loan
and contraction is now governed by the mutual action of and discount market would have had no shock. But, as
before stated, this course was not open. Nevertheless, the
the banks and the business public.
If w^hat is above written is true, it must be recognized interior and Western demand had to be met in the form in
that in the larger affairs of our commercial life the "curren- which that demand was expressed. In the absence of altercy" supply is as a rule equal to the demand. In other words, native, resort was of necessity had to the cash reserves.
when the operations of trade are in their usual and regular Between August 26 and October 14 twenty-three millions of
groove, bank credits, with the accessories of checks and this fund, which limits and restricts the general creditoperadrafts, furnish all the mechanism of exchange that trade re- tions of the banks, were sent to perform a function which
quires. With a periodical regularity, however, clearly marked, could have been as effectively performed by bank notes of
occurring year after year with the autumnal season, these in- suitable denominations. Consider now the effect this prostruments of exchange are proved to be inefficient for the duced. As stated, $23,000,000 was sent out from the reservice then required. Then the crops are to be harvested, serves. This depletion destroyed the guard of cash required
the labor cost paid. The grain and the cattle are to be mar- by law for $92,000,000 of deposits. The banks were no
The Western bankers and merchants who have longer able to continue their main function, which is to
keted.
funds or credit at rest with the bankers in the financial give their credit in exchange for the credit of the individcentres find that checks and drafts are not suited to the ual. On the contrary, it became imperative, under the repurposes now in question. The bank credit is all right per duced holdings of cash, in order to bring liabilities down,
to collect their claims from the public, and by this process
se. but the form in which that credit is evidenced is not
convenient. Wbat they need for these uses is a form of reduce their credit obligations (deposits) to the public.
Interest— or, more truly speaking the bank's charge for
credit instrument easily recognized by the people, one convenient as to denomination and one which will pass from exchanging its credit against private credit— rose from 2J^,
hand to hand without being questioned. In short, their 3, or 4 per cent to 10, 15, 25, 40 per cent That element of
the currency which Isank credits furnished was contracted
need is for paper money or hard cash.
Now, subject to one limitation that of safety to the note within a period of nine weeks to the extent of $84,000,000.
holder, a qualification never to be disregarded -it is impos- In common parlance, deposits were reduced to that extent.
sible for any one to name a good reason why the indebted- Put in the shortest form: In order to supply the interior
ness of the banker in this field of the exchanges should not with the use of a medium of exchange for a few weeks to
be expressed as freely in his notes of hand of convenient the amount of $23,000,000, havoc was wrought in the regular
size, as in one consolidated entry to the credit of his dealer, ongoing of our commercial life
It is pertinent to inquire whether this is the best of which
upon his books of account. It is precisely at this point that
What we are capable. Other countries offer us models which it
difficulty. embarra<5sment and loss are occasioned.
j

—

—

—

—

•!

:

—

—

1202

THE CHRONICLE

[Vol. LXIX.

may

Certain it is that perturbations in
profit us to study.
our finances often bring far-reaching and destructive
Eqiially certain it is that in
effects to trade and industry.
other countries such perturbations do not result in similar
general disaster. It is not an agreeable task to point out
defects and weaknesses without offering effective remedies,
and it is much easier to criticise than to create. In my
opinion, however, the path to better conditions is quiie
Society, left jn a state of comparative
plainly marked
freedom, has by pIow steps, worked out for itself those tools
and appliances and methods best suited to its needs The
practice of banking is as natural an evolution as is the
locomotive or the steamship, and in its relation to modern
industry and commerce it is hardly less important and
serviceable
Note issuing was a development of the catural
function of a bank, that function being to make private
What
credit effective to commercial and industrial needs.
the bank credit does in a large way, with the aid of checks
and drafts, the bank note does in a smaller, but equally
necessary, way.
I have said that foreign systems of banking afford objects
of profitable study. We need not go so far. Forty years
ago. before the imperative needs of the Government repressed the natural development of banking, there had
already become established in several States banking systems filling to a high degree of perfection thp services
which such institutions should render to the public. The
New England system, those of Ohio. Indiana, L iiisiana and
New York -while differing from each other in many particulars and not equally effective— were all safe and substantially adequate to public needs.
It is the general theory of our Government that the lar
gest liberty should be enjoyed by the people, subject only
to such restraints as the welfare and safety of the whole
may require, and in the field of banking it may be affirmed
that this principle should be observed.
I beg now to point out some of the general limitations
and restrictions which Congress has imposed in this department, and inquire as to their justice, wisdom and adequacy.
The law requires a
1. As to conditions of capitalization.
minimum capital of $5f^,<'0f) as a precedent to organizaWhile this would seem
tion under the National Bank Act.
to be a fair and moderate limit, it is undoubtedl}- too large
for the resources of small communities, where banking
facilities are much needed, and it is suggested that for
places of a population of 1.000 or less the minimum be re-

duced tO$25,On(»,
3. The National Bank Act clearly recognizes the noteissuing function as a proper one, but it is plain that the
original conditions and limitations imposed have, under
changing conditions, become substantially prohibitive in
their terms. This ought to be re-studied, and as large a liberty given as may be consistent with safety in the exercise
of that useful function.
3.

The law prescribes percentages which national banks

shall carry in cash against their deposits and limits ihe
amount of risk which the bank shall take in loans to any

The percentage of
one individual, firm or corporation.
cash reserves seems to have justified in practice the provision of the law, but the limitations on loans have been
found to work with great inequality. The recommendations of the Comptroller of the Currency on this point, to
be found in his report to Congress last year, merit careful
consideration.
4. While limitations and restrictions exist in several directions, no limitation has ever been given as to the ultimate liability a bank may carry upon a given amount of
Upon this point the bank with $5",0(Hi capital
capital.
stands legally as free as does the bank with $5,<KiO,000 capital.
Cash reserves are a defensible subject of legislation^
because they affect the immediate solvency fif the bank.
The limitation ot liability compared with capital is equally
so, since the percentage of capital and accumulated surplus
affects the ability of the bank to bear its own losses. Capital,
loans and deposits bear healthful and proper relations to
each other. Everything else being equal, the measure of
risk is determined by the extent of the loans; and for the
ultimate solvency of the bank as to its deposits, the capital
of the bank is the proper guaranty. The capital should
be relative and fairly adequate to the risks involved.
It is mainly in the lack of adequacy to public needs that
The repressive effect upon
our national systnm is at fault.
note issues destroys, or injuriously limits, one of its very
important functions. How in certain particulars this injury results I have tried truthfully to show. In view of the
weakness and limitations which time and experience have
brought under n tice, efforts have been made to modify the
National Banking Act. In the House of Representatives of
the last Congress, certain bills were proposed embodying
measures which I believe would be effective toward needed
reform.
These measures in their general principles are approved by the informed judgment of the most thoughtful of
our people. It is to be expected that they will be ayain
offered for the consideration of the present Congress.
Without indulging in specific recommendations at this
time, which if made could be but repetitions of previous
recommendations, I commend the subject to the thoughtful
attention of the legislative body.
L. J. GAGE,
Secretary.

To THE Speaker of the House of Representatives.

COMMERCIAL EPITOME.
Friday Night, December 8, 1899.
The feature of the we^k was the opfning of the fiifty-sixth
Congress on Monday. The President's annual me.^sage was
read on Tuesday, and it was well received. His discusfions
of our relations with oar new dependencies, the carr^^ncy
question and our commercial rights in the Far East rei eived
particular attention.
Considerable adverse criticism has
been heard over tne action of the local Board of Health in
refusing to allow coffee arriving from Santos to be landed at
this port after proper quarantine regulations had be^-n enforced. The general business situation has undergone few
changes. Considering the season of the year the condition
of trade in first hands has been satisfactory, atd the retail
business has been quite generally reportt-d as good, the more
seasonable weather experienced the past week having a
stimulating influence.

Nov.1,

Pork
Lard

Dec. 1,

1S99.

Stocks of Merchandise,

1899

bbls.

robaooo, domeetlo
OolTee, Rio...
Joffee, other
Ooffee, Java, &o
Sagar
5agar
•lolasseB, foreign
aides

4.401

toe.

l.'=..<^08

Jotton...

SoBln

6,551
13.398

13,555
13,401
8,!^ 39
68 ,531
107,753
10 .<>( a
None.
None.

00

1,><37

77?.-J17

660,4 68

52,621

hhds.
bags.
bags.
mate.
hhds.
bage, &o.
hhde.
No.
balea
bbls

34,f00
95.«03
None.
14,753

9,

105,t*73

31

19.6^5
None.
20,f0i>

107.335
19 543

None
19.(

'

104 809
18.985
2,59i
1,161

SplrltB turpentine

bbls.

1,053

Tar

bblb

lA^O

Slo«, E. I
Sloe, domeetlo

bags

2.100

1

bble

6,9

Llnaeed

bags

Non«.
6,800

5.3
N..nf
5,8

Baltjietre

bags.

Inte butts.

bales.

Manila hemp...

bales.

^laal

hemp

.

bbls.

6.0

NdDH
850

and sacks

None.

7.443
74,700

bale*

.

Flour.

Dec. 1,
io»8.

28 9
89,400

704

None.
6 ,000
101,801
10,848
2.010

'80

1.100
3,600
^one.
1.7C0

None.
15,690
72.777
79,00O

Lard on the spot has been in fairly active demand. R-'finers have been the principal bnyprs and prices have advanced,
cloeiog firm, 5 fi5c. for prime Western and 5*20c for prime
City. Refined lard has bad a fair sale and higher prices have
been paid, closing firm at 5'90c. for refined for the Continent.
Speculation in lard for future delivery at the Weetern marThere has been fair buying for
ket has been fairly active
investment account, and there also has been a demand from
shorts to cover contracts, stimulated by cocnpHratively lisiht
receipts of swine and a good cash demand. Clos-^ Wis firm.
DAILY CLOSING PRICES OF LAKD FnTURES.
Wed. Thurs.
Pri.
Man. Tius.
Sat.
5-45
5-55
5'50
560
560
5 65
December
Pork has been in more active demand and firmer, cV^sing
at 9-37i^@ 10-25C for old and new mess. Cut meats have had a
fair sale at steady prices. Tallow has advanced, closing firm
Cotton-seed oil has been in fairly active demand
at 47^@5c.
and higher, closing firm j.t 32^(a33c. for prime yellow. Butter has had a fair eal-* at steady prices. C^ieese quiet.
Brazil grades of coffee have been unsettled, owing to the
barring of Santos coffee from this port by the Health Board.
the market was firmer on small crop egtimates
Rio No 7 was quoted at 67^ '3) 7c. Business has been m^deratelv active. We-Jt India growths have
been in light suoplj' and sparingly offered prices have adEast India
vanced, closing firm at 10c. for good Cucuta.
growths have been firm Speculation in the market for
Early in the week
contracts has been moderately active
prices declined under realizing sales, but ht the close there
was renewed buying, stimulated by small crop estimates.

At the

clospi

and light

receipt^.

;

The

final

asking prices were
5-950. March

:

6-300.
July
G-a^e.
Sept
6-40o.
Oct
6-05C. June
Raw sugars have been quiet but steady. Offerings have
continued small, closing at 414c. for centrifugal, 96 deg.
R-'fined has
test, and 3 13-16c. for muscovado, 8»-dpg. test.
been in better demand and st adv. closing at 5%@5 3 16c. for
granulated. Other staple groceries have been steady to firm.
Kentucky tobacco has b en in small supply and firm. Seed
Sales for the
leaf tobacco has had a fair sale at firm prices.
week were 5,300 cases.
Straits tin ha^ continued to meet with a slow sale, and under
moderate offerings and weaker foreign advices prices have
declined, clo.-ing at 26-5<'@27c. Ingot copper has been quiet
but prices have held fairly steady, closing at 17@171^j. for
Lake. Lead has been in moderate demand and firm, closing
at 4'70(3)4 75c. for domestic. Snelt^r has been in more active
demand and higher, closing at 4-8r'@4'85c for domestic. Pig
iron had a fair sale at full values, closing firm at $19 50@
24 00 for domestic.
Refined petroleum has advanced, closing at 9-90c. in bbls.,
Naphtha unchang-d at
7'25c. in bulk and lie. in cases.
Crude certificates have been neglected. Credit bal10 65c.
ances have advanced to $1 66. Spirits turpentine has been
firmer, closing at 513^@52c. Rosins have been in small supply and firmer, closicg at $1 40@1 45 for common and eood
strained. Wool has been in less active demand but firm.
Hops have had a fair sale at steady prices.

Deo
Ian
Feb

6050.

May

6-10o.
6-200.
6'2oo.

December

THE CHRONICLE.

1899. J

9,

COTTON.
Fbiday NiOHT, December

1899.

3,

The Movement of the Urop, as indioatea

b> our telegrams
from the South to-night, is given below. For the week ending
this evening the total receipts have reached 34'^,525 bales,
against •222,999 bales last week and 263,741 bales the previobs
week making the total receipts since the 1st of Sept., 1899,
8,24,'i,376 bales, against 4 802.169 bales for the same period of
1898,showiDg a decrease since Sept. 1, 1899, of 1,506,793 bales.
Receiptt at—

Hon.

8at.

TKurt.

Wea.

Tnet.

Toiat

12,333 21,083

.....

10,099 13 022 11.255 17,"47
661 2,579 2,454 1,204

Mobile
Penaacola, &o.

Savannah

4,416

13,338

4,697

7.313

73,° 05

9,679 10,560
1,562
8,826 s.s-o
837
1,335
4,716
5,03 i
5,104

5,609 14,641

«Sto

New Orleans.

1,562
66,038
9,090
4,716
39.800

Brau8w'k,&o
1,509

361

1,105

7>3

2,370

2,709

2,488

1,032

1,875

1,686

3,237

2,209

2,161

1,317

....

>..*>•

5,069
S9
2,991
1,507

14,859

2,506

.

743

5,8 3

5.462

5,462
4,102

Ac

N'p't News,

New York

538
726

244

1,089

30
648

778

1,671

-..

Ao

1,0 8

381

178

1,049

717

Boston
Baltimore

...-

859

29

a

14,4
1,507

990

278

week 44,739 50,716 32,941 44,706 29,585 46,837 249 524

The following shows the week's total receipts, the total since
and the stock to-night, compared with last year.

Sept, 1,1899

1899.
Beceiptt
Dec. 8

to

Thi$
week.

189»

Since Sep.
1, 1899,

TM$

Stock.

Since Sep.

week.

1,

1898

1899.

1898

Galveston.
Tex. C.,&o

73,905 1,089,564 106.166 1,442.50S
1,'S62
16.996
2.983
3^,625
New Orleanf> 66,038 832,527 108 411 1,074 4
Mobile....
94,942 14,495 180,387
9,090
P'saoola, &o.
45,309 10,612 lOi.872
4.716
Savannah... 39,800 548.299 43.474 709 791
4=i.558
Br'wiok.&o
8,718 150 864
Charleston
7,210 153 369 17,976 281,815
P.Royal.Ao.
913
286
19.M6
Wilmington 14,859 177,237 18,997 245,394
Wash'n, &o.
29
555
52
»fi0
Norfolk
14,421
186,823 31.923 358 566
N'port N.,&c
6,606
1,507
1,526
1«,047
New York..
9 40
7,445
6,968
54,970
Boston
5,833
29,138 18,003 117,209
Baltimore
5,462
41,883
964
10,045
Phlladel.&c.
4,102
18,207
1,414
16,836

235,310

321,702

366.310
42,127

424,601
43,595

147,085
15,704
33,852

164,0.=i8

35,708

33,192

36,476

86,225
4,428
106 433
29,000
17,579

1,646

106 692
'<32
20 4€9
9 116

11,333
76,278

6,351

249,524 3,295,376 392 968 4,802,169 1,082.435 1,323,825

Totals

In order that comparison may be made with other yeait,
the totals at leading ports for six seasons.

we give below
Beceiptt at—

^

1899.

Galves'n,&o.
New Orleans

75.467
66,038
9.090
39,800
7,210
14.888
14,421
1,507
21,103

Mobile

Savannah
Cbas'ton, &o
Wllm'ton, Ac
.

Norfolk
N. News, Ac,

U

others...

Tot. this

wk

1898.

249.524

109,149
108.411
14,495
43,474
18.262
19.049
31,923
1,526
46,679

392.968

1896

1895,

1894

80,620
113,6o9
20.607
47.233

62.^79
89.605
17 5
28.921

49,534

22.1! 90

11976

lH.0(i9

l,2b2

7,524
26.643
•92

37.318

32 858

94.807
95,617
10,796
32,114
27.777
13,222
21,411
19.316
42,076

1897.

26.180

367,098

278,468

89910
8 642
28 294
12,972

6.576
15,239
8,4 88
14,354

234,059

363,136

Since Sept. 1 3295 376 4802,169 4509 7fi4 4099,341 2<421 610 4463,603

The exports

for the week ending this evening reach a toi si
of 119,478 bales, of which 33,766 were to Great Britain, 41,474
to France and 41,233 to the rest of the Continent. Belovt
are the exports for the week and ginoe Sept. 1, 1899,
Wte}t

Mx9orti

from—

BnAinQ Dec. 8,
Exporttd to—

Great

ContiFrance
Brit'n.
nent.
18,330

Oftlveston.
City, Ac.

a9.97*

Tex.

New

Orleani
Mobile
Pensaoola

7,555

6,475

1899,

from

Sept.

1,

1899, to Dec . 8, 1899.

Bxvorted tolotal

Week

18,687
Ida

60,991

11,771

24.g0'

3.<;68

1B3

Great
Britain

France

Oortti-

2oto;

nent.

313.3B9 235,841
y.'44'i

212,057

761,297

4.15S

6,39S

190.343

50S233

0,830

2l6,i-7i 100.919

3.258

28.757

1.787

8,f>21

19.550

5.0 11

11,311

3,601

9,6.26

63,8 m)

80,544

1 .015

193,881
7,596

2,7<a

2.746

3C,337

61,025

85.607
33,802
288 275
22.611
91,b6i

1,286

8,093

4,574

4S,ttl3

738

32H35

8.286

6.C'39

19,747

5,925

Brunswick

.

Charleston,
Port Royal.

.

WUnalnuton,

Ac

1,381

Boston

100

738

Baltimore,
Phlladeipbia
Banrran..&o..

Total

2,753

U4
13.888

43,337

Leaving
Great

Other
Britain. France. Foreign

New Orleans...
fJalveston

6223 18,915 2,212
22,M8 10,929 30.6*8 20,2u3
30,463

14,000

None.
None.
None.
None.
100
None.

82,981

17,252

3.000
4,900

Jharleston
Mobile
Norfolk

6.«

OU

2,000

New York

100

Other ports
Total 1899...

275

600

12,983

33.110
33,3*0

1,850

173,585

41.474

1,860

44 238 119.478

Ooattunte.

$tock.
Total.

57.S13
84,298

308,497
151,012
140,085
19,452
29 427
26,676

None.

7,00ij

14,400
12 700
9,800

1,400
13,000

1,000
^une.
7,000
None.
None.

1,600
27.000

10.^,092

83,963

30,415

214,611

867,824

124,567 72 513
62.09
34,9»7 l.'i 1,239 24,761

402,472

921,353
772,960

4,<00
8,iOO
6,7<0

800

^

34fi 69,'i

87,683

Speculation in cotton for future delivery has been less acThe tpne has been unsettled and for the week prices
show a moderate decline. The principal weakening feamr©
bas b-en a slight increase in the crop movement, which has
prompted srlling by longs to realize profits. Indications have
been, however, that the larger receipts have b^en chiefly the
result of the increa3t^d business transacted lat erly with exporters; in fact at the close the predictions were for a decreased movemt^ntof the crop during the coming week. Reflecting the decline in futures, prices for actual cotton
at the South weakened slightly.
After, however, buyers
had
I..wered
their
bids
below a certain
to
point, sellers as a rule declined to operate, they having confideoce in tbe situation and held for
full
tive.

values.
Siturday prices
advanced slightly early on
stronger foreign advices. Subsequently, h )wever, there was
a decline under realizing sales prompted by predictions of an
increased crop movement. Monday the market held steady
but on Tuesday there was a decliae of 5 to 7 points in prices
and this was followed by a further reaction of 7 to 8 points
on Wednesday, due to continued liquidation by longs and the
absence of aggressive buying.
Thursday there was a
stronger market foreign advices came much better than
expected and this, together with a small crop movement
for the day, stimulated moderate buying; ttie prices for
the day showed an advance of from 7 to 10 points.
To-day the market opened slightly higher in consequence of foreign advices being stronger than expected. Subsequently, however, foreign markets turned
weaker, and this, together with selling by ourside longs to
liquidate their accounts, resulted in a weaker market locally,
and th<i close was at a net loss in prices for the diy of 5^10
points for this crop and unchanged for September to 5 points
lower for the next crop
Cotton on the spot bas been quiet;
prices declined l-l6c. on Saturday and Wednesday.
Today
the market was unchanged at 7 I'l 16c. for middling uolands.
On the basis of the rates on and off middling as established
by the Revision Committee, the prices for a few of the
grades would be as follows:
;

UPLANDS.

nion Taet)

Sat.

^ood Ordinary.

7"ie

81).

8^
Tnen

GULF.

men

Sat.

6B9
7>4
71I18
8

87 e

87i,

87,

Wed

Tb.

Frl.

8',

81a

8ll6

6S8-

6'iu

75.

7%

Middling
Jood Middling.
Middling Fair...

7H

714

Low Middling..

6I616
7»16

615iB
7»16

6'5ie
79,^

7'«

Middling

8

8

8

7'»i(.

liood Middling.,
Middling Fair

85,6

85,8

«k

S3i

811,

tJood Ordinary.

8\

STAINED.

Sat.

L.OW Middling

anon Toea

638
76,8
7i«

7»fl

7%

Middling
Strict Middling.
aood Middling Tinged

7\

6^8

6''8

7'fl

8I4

7'«
7'6l8
8I4

8i'i«.

8U18

Wed Tb.

Frl.

6»16
714
77,8

65,8
7I4

638

65,ft

7s,fl

714

7^
7\

638
7&,6

Tb. FrI.

8

6>i,e

~6n"ie
76,8

Uow Middling..

Wed

77,6
7i'i.

77i«

7Hu 7Ul8

The quotations for middling upland at New York on
Dec. 8 for each of the past 32 years have been as follows.
I875....C.I314
18^9. ...o. 711,8 1891. ...0. 81,6
1883. ...0.109,
14i«
1038
938
1874
1898
1890
1882
5%
IOI4
15"^
1873
12
1897 .... 578
1881
1889
1988
1872
1896.
1880
ll^a
1888
s-'a
77,e
8s«
1871
1938
lOifi
1895
1887
1879
135,6
1870
91,,
1894
1878
1886
97,6
5h
15«ta
.2518
Ilia
7ia,e 1885
938
1869
l-^gs
1877
24i«
1218
1868
1892
11
1884
1876
9%
Note.—On Oct, 1, 1874, grades of cotton as quoted were changedAooordlngto the new olassitication Middling was on that day quoted
380. lower than Middling of the old classification.

MARKET AND
Spot Mabkbt
Closed.

SALES.

FUTDBES

Mabset

Sales of Spot

& Oontbaot.

10e,13S

....

33.766
...

Produce Exchange Building.

ON 8HIPBQABD, NOT OLBABBU FOB—

15,507
f41

500

....

.

New York

Total. 1898

& Barrows.

Dec. 8 at

157,014

1.271

16.694
li.2iV

141,320

1,271

1,734

Savannah

Norfolk.
N'port N„

Lambert

143 2<i4
Total 1898.
Total 1897... 135,698

1,112

Pt. Royal,&o
WilmiuKton.
Wasb'ton, &o
Norfolk

Tot. this

We

.

Oharleston...

Phlladel'a,

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, which are prepared for our special use by Messrs.

Savannah

Galveston
Tex. Olty,

1203

33.031

822.039 38rt,833

38,631

920.20; 2.129.069

45.718 127,641 346,974 1.711.033 344.898 1,213,219 3,2fc9,150

Closed.

Saturday.. Quiet at ii6deo B'rly steady,
Monday.. (iulet
:8teady
Steady
Tuesday ... Quiet
I16 dec. Steady
Wednesday Quiet at
Steady
rhareday.. Quiet
B'rly stead.v.
Friday
Quiet

TotaL

Export.

Oon-

Con-

sump.

tract.

Total.

2,300

2,300

100

1,100

420
1,000

420

150

222
550

372
550

1,150

1,192

2.400' 4.742

THE CHRONICLE.

J204:
Futures.

— The

O

S3

highest, lowest and closing prices
are shown in the following table.

00

g

ch

Ch

|>

SSP H

s-s"

(ji

i

»?>

.*

••
•

•

•

•

^^

I

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9

9

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0<!

I

13

a a

•

5d
£

o S
00 B
B ®nB a

SOW

NJWS

•

•

the movement that is the receipts
since September 1, the shipments for the
week and the stocks to-night, and the same items for the
corresponding period of 1898— is set out in detail below.

week and

to^
St.
Eof

ED

Paris,
Dallas,

to

g

Nashville, Memphis,

Columbus,

Columbus,

Shreveport,

Greenville,

aula,

Louis,

Montgomery,
Loul8vllle,ne<

City,
Rock,

CO
-J -J

-go
CJiO>
tOjtk
I

OQD

Selma,
Helena,

Augusta.

Cincinnati,

Greenwood,

S.
<•

»3-i

Athens,
Atlanta.

Meridian,

Charlotte,

Little

Albany,

Macon,
Natchez,

Vlcksburg,

o

.

Home,

Yazoo

Raleigh,

Brenham,

Houston,

lilt?

to to

-1<J

•

I

•
••

S

05 <I
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c;i-ji

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I

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—

At THE Interior Towns

for the

•"I

S
© g ^ S^g O © g 3 © g g © g S
hosk©S7o„
B» B» O
o-t?

^

of

New York

Futures at

[Vol. LXIX.

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M
The aljove totals show that the interior stocks have inThe Visible supply of Cotton to-night, as made up by
cable and telegraph, is as follows. Continental stocks, as well creased during the week 29,617 bales, and are to-night 95,380
as those for Great Britain and the afloat, are this week's re- bales more than at same period last year. The receipts at all
turns, and consequently all European figures are brought down towns have been 67,287 bales less than same week last year.
to Thursday evening. But to make the total the complete
Overland Movement for the Week and Since Sept. 1.
figures for to-night (Dec. 8), we add the item of exports from
We give below a statement showing the overland movement
the United States, including in it the exports of Friday only, for the week and since Sept. 1, as made up from telegraphic
1896.
1897.
1898.
1899.
reports Friday night.
The results for the week ending
Stock at LdveriK)0l
665,000 81>',000 Dec. 8 and since Sept. 1 in the last
bales. 749.0001,113,000
two years are as follows.
Stock at London
3,000
7,000
2,000
3,000
1

Total Great Britain stock. 751,000 1,116,000 668,000 825,000
Stock at Hamburg
8,000
17,000
13,000
16,000
Stock at Bremen
210,000 241,000 228,000 144,000
Stock at Amsterdam
2,000
1,000
6,000
1.000
Stock at Rotterdam
'.00
200
300
200
Stock at Antwerp
7,000
8,000
9,000
5,000
Stock at Havre
172,000
155,000
197,000
180,000
Stock at Marseilles
r,000
4,000
4,000
4,000
Stock at Barcelona
7^,000
51,000
30,000
48,000
Stock at Genoa
3 ,000
12,000
24,000
58,000
Stock at Trieste
4,000
16,000
10,000
5,000
Total Continental stocks
571.200 521,300 489,^00 424,v:00
Total European stocks... .1,322,200 1,637,300 1,157,200 1,249,200
India cotton afloat for Europe
J,000
15,000
9,000
33,000
Amer. cotton afloat for E'rope. 4'22,000 874,000 851,000 665,000
Egypt, BrazU,&o.,aflt.forE'pe
64,000
64,000
64,000
77.000
Stoci In United States ports. 1,082,435 1,323,825 1,119,6=)5 1,274,954
Stock In U. 8. Interior towns.. 805,019 709,639 613,263 568,783
United States exports to-day.
24,738
46,208
53,639
43,780
Total visible supply
3,733,392 4,669,972 3,y67,757 3,898,716
Of the aboye, totals of American and other descriptions are as follows:

1899.

December

.

Week.

Sept.

Since

Week.

1.

Sept.

1.

Shipped—

V

a St. Loals..
Viariairo
Via Paducah.... ........ ........
Via Rook Island
Via Louisville....
Via Cincinnati
Via other routes, Ac... .......

58,325
6,960

417,713 57.971
112,270 20,100
847
5,979
2.996
6,835
7,413
6,501

378,3S7
151,767
7,06S
29,363
48,519
41.713
59,021

92,567

785,830 102,263

715,823

16,387
5,313
5,327

96,673 27,349
1,239
25,416
44,085
1,505

199,060

Between Interior towns
Inland, &o., from South
Total to be deducted

27,527

166,174 30,093

226,204

659,000 1,022,000
538,000 475,000
American afloat tor Europe... 422,000 874,000
United States stock
1,082,435 1,323,825
United States interior stocks. 805,019 709.639
United States exports to-day..
24,738
46,208
Total American
3,531,192 4,450,672
East Indian, Brazil, rfc—
Liverpool stock
91,000
£0.000
LondonstO(3k
3,000
2,000
Continental stocks
46,;-00
33,200
India afloat for Europe
15,000
5,000
Egypt, Brazil, Ac, afloat
77.000
64,000
Total East India, Ac
20^,200 219,300
Total American
3,581,192 4,450,672
Total visible supply
3,738,392 4,669,972
Middling Upland, Iliverpooi..
41l32d3532d.
Middling Upland, New York..
7ll,fcC.
613,80.
Egypt Good Brown, Liverpool
e^d.
4!<id.
Peruv. Rough Good, Liverpool
738d.
65Sid.
Broach Fine, Liveroool
436d.
3>4d.
Tlnnevelly Good, Liverpool...
3d.
43i6d,
bales.

562,000 693,000
451,000 344,000
851,000 665,000
1,119,655 1,274,954
613,263 568,782
53.63^
43.780
3,650,557 3,589,516

65,030

619,656 72,170

489,619

103,000 125,000
3,000
7,000
8<',200
38,200
9,000
33,000
64,000
64,000
217,200 309,200
3,650.857 3,589,516
3,867,757 3,898,716
33, gd.
S'^so.

4i2d.
638d.
3i4d.
37i6d.

into Continental ports the past

been 158,000 bales.
The above figures indicate a decrease in

46'>2d.

7383
513,jd

402
643

$hipment$—

Overland to N. T., Boston, Ac.

Including

1898.

1899.

In Sight and Spinners'
Takings.

Week.

Receipts at ports to Dec. 8

Net overland to Dec. 8
Southern consiunptlon

to Dec.

8..

Came

Since
Sept.

1.

492,507

Into sight during week. 373,171

4,886'868

Wo rth'n spinners tak'gs to Dec

Since
Sept.

249,524 3,295,376 392,968 4,802,169
6.'*,030
619,656 72,170 489,619
29,000 404,000 26,000 374,000

Total in sight Dec. 8

In 1897 the week's

Week.

1.

343,554 4,319,032 491.138 5,665,788
1,369 605,620
561,836
29,617

Total marketed
Interior stocks in excess.

4\-»2^-

the cotton in
sight to-night of 9:31,580 bales as compared with the samf
date of 1898, a loss of 129 365 bales over the correspondin?
date of 1897 and a decline of 160,324 bales over 1896.

8,882
18,262

movement by rail to Canada.
The foregoing shows that the week's net overland movement
this year has been 65,030 bales, against 72,170 bales for the
week in 1898, and that for the season to date the aggregate net
overland exhibits an excess over a year ago of 130,037 bales.
*

6Bi«^.

week have

6.494
96.635
68,424
78,315

7,170
9,626
9,431

Total gross overland
Dedxict

American —

t;W The imports

1898.

Since

Leaving total net overland*..

.

Liverpool stock
Continental stocks

8.

8..

6,27i'.308

116,3?9 1.056 035|108,668

movement

into sight

was

854,017

4'i8,228 bales

in 1896 reached 342 522 bales; in 1895 was 322,827 bales, and
in 1894 was 459,670 bales. The totals since Sept. 1 in the same
vears were 5,925,732 bales in 1^97; 5,291,756 bales in 1896;
4,183,427 bales in 1895 and 5,928,921 bales in 1894.

DXCKMBEE

THE CHRONICLE.

«, 1899.]

Quotations tor Middlinq Cotton at Other Markets.—
Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the week.
OLOSIMO QUOTATIONS FOB MIDDLINa COTTON

Week ending
Dee. 8.

ON—

Satur.

Mon.

Tuet.

Wednet.

Tkurt.

FH.

Galveston.
New Orleans

7'i«

77i9

738
75.6

76,6
738
75ia
73i8

7ifl

7ifl

7Bt8
738
75i8
73l8
7I4
7I4
77,8

75ifl

MobUe

7'i«
71a
738
75l8
7I4
7I4

7%
7%

73i

1\

.

Sarannah.

.

Cbarleston.

Wilmington.
Norfolk

Boston
Baltimore

7ifi

7H
IH
71a
71*16

7^'

.

Fhlladelphla
An^^osta

8
7i«

Memphis
at. Louis....

7'l«
71*

Houston

7''

776

738
7Bi8
714
7I4

7%

8
77i6®ia

8
77j.'a>i«

7t,6
71a
77,6
758
708

77l6
71a
77i«

7%,
7I618
738
77i8
77l8
73^
788
758

IH
7H

77l6
71I16

7%
71B,,

7%®7ie
738
77,6
738
758
758

738
7I4
7I4
7I4
7I4
77,8
7lii«
711 6
7IB16
738
738
77i8
735
78e
758

1205

—

Memphis, Tennessee. There has been rain on one day during the week, the precipitation being one hundredth of an
inch. Average thermometer 44 2, highest 62-7 and lowest 23'1.
Mobile, Alabama. Rain has fallen on two days of the week,
the rainfall being twenty-five hundredths of an inch. The
thermometer has averaged 51, ranging from 34 to 70.
Montgomery, Alabama. There has been rain on two days
during the week. The thermometer has ranged from 26 to
68, averaging 47.
Selma, Alabama. We have had rain on three days of the
week, the rainfall being seventy-five hundredths of an inch.
Average thermometer 47, highest 70 and lowest 23.
Maaison, Florida. There has been rain on one day of the
past week, the precipitation being fifty hundredths of an
inch. Thermometer averaged 56, highest being 70 and low-

—

—

—

—

est 32.

—

Savannah, Georgia. There has been rain on one day during the week, to the extent of nine hundredths of an inch.
OInoinnatl..
74
74
The thermometer has ranged from 32 to 69, averaging 51.
Loalsvllle...
708
75e
Augusta, Georgia. The gathering of cotton has been comThe closing quotations to-day (Friday) at other important pleted, and more than half of the crop marketed. There
Southern markets were as follows.
have been showers on two days of the week, the precipita7I16
Athena
714
Colombns.Mlss |7ifl
NashviUe
71ia
The
tion reaching twenty-seven hundredths of an inch.
7i«
7i«
Atlanta
Eufaola
Natchez
73i8
thermometer has averaged 46, the highest being 71 and the
CRiarlotte
733
7ia
Little Rook....
Raleigh
7
Oolombus. Oa. 7
Montgomery... 79b
6iiie lowest 26.
Shreyeport
Charleston, South Carolina. Rain has fallen on one day of
Receipts from the Plantations.—The following table
the week, to the extent of thirteen hundredths of an inch.
indicates the actual movement each week from the plantaAverage thermometer 54, highest 72, lowest 33.
tions.
The figures do not include overland receipts nor
Stateburg, South Carolina. Killing frost and ice on TuesSouthern consumption; they are simply a statement of the day and
Wednesday. It has rained on one day of the week,
weekly movement from the plantations of that part of the the precipitation
reaching fifty-two hundredths of an inch.
crop which finally reaches the market through the outports. The thermometfr
has averaged 49*1, ranging from 26 to 72.
Greenwood, South Carolina. There has been rain on one
Week
a«e«4pt» at t*« Portt St'k at Interior Tovm». Ree'vttfrom Plant'nt
day during the week, to the extent of ten hundredths of an
Mndint—
IS

—

—

—

—

1899.

Not. 3

2S4.990
262.391
•'
17.... 270,934
" 24 .. 263.741
Doc. 1 ... 222,999
"
8 .. 249,5-^4
"

10

...

...

1808.

1897.

1899.

45S,131 367,632 646,125
449,742 411,695 694,6-12
41«,842 411,300 731.002
422,057 396.053 766,193
391.897 400,835 776,402
392,9ri8 367,098 805,019

1898.

573,625
625,676
837,283
683,320
708,270
709.63P

The above statement shows:

1.

1897.

1899.

396,258 270.275
310,928
307,274
298,932
232,208
279,141

442,365
503,190
669.421
589,083
613.268

— That

1898.

1897.

498.422 894,235
601,f93 467,702
43",199 472.144
468,144 452.284
419,847 430497
394,337 391,2(8

the total receipts

inch.

The thermometer has ranged from 31

43.

—

Wilson, North Carolina. There has been rain on one day
during the week; the precipitation reaching sixty hundredths
of an inch. Average thermometer 46, highest 68 and lowest
31.

The following statement we have also received by telegraph,
showing the height of the rivers at the points named at
3 o'clock December 7, 1899, and December 8, 1898

from the plantations since Sept, 1, 1899, are 3,857,212 bales; in
1898 were 5,407,689 bales; in 1897 were 5,077,9.51 bales.
2. — That although the receipts at the outports the past week
were 249,5^4 bales, the actual movement from plantations was New Orleans
279,141 bales, the balance going to increase stocks at interior
towns. Last year receipts from the plantations for the week
were 394,337 bales and for 1897 they were 391,278 bales.

Weather Reports by Telegraph.— Reports to us by telegraph from the South this evening indicate that the weather
has been very favorable for marketing cotton the past week,
there having been little or no rain at most points. Our Little Rock correspondent reports that picking is virtually completed in that section and from Augusta, Gra., we are advised that gathering has been finished and that over half of
the crop of that vicinity has been marketed,
Galveston, Texas. There has been rain on three days during the week, the rainfall reaching one inch and thirty-two
hundredths. The thermometer has averaged 55, the highest
being 62 and the lowest 48.
Abilene, Texas. Rain has fallen on two days of the week,
the rainfall being one inch and fifty-six hundredths. The
thermometer has averaged 45, ranging from 30 to 60.
CorpvLS Christi, Texas.— There has been rain on three days
of the week, the rainfall being one inch and ten hundredths.
The thermometer has ranged from 44 to 68, averaging 56.
Palestine, Texas.- There has been one shower the past
week, but the rainfall was inappreciable. Average thermometer 47, highest 64 and lowest 30.
San Antonio, Texas. There has been rain on two days of
the week, the precipitation reaching one inch and ninety
hundredths. The thermometer has averaged 52, the highest
being 72 and the lowest 32.
New Orleans, Louisiana. The week's rainfall has been
twelve hundredths of an inch, on one day. The thermometer
has averaged 54.
Shreveport, Louisiana. Dry weather has prevailed all the
week. The thermometer has averaged 49, the highest being
69 and the lowest 30.
Columbus, Mississippi.— We have had rain on two days
during the week, the precipitation reaching fourteen hundredths of an inch. The thermometer has averaged 50,
ranging from 20 to 72.
Leland, Mississippi.— We have had no rain during the
week. Tlie thermometer has ranged from 20 to 68, averaging 46.
Vicksburg, Mississippi. We have had only a trace of rain
durinfj; the week, the rainfall being one inch and seven handredtus. Average thermometer 48, highest 68 and lowest 30.
Weather now is fair and warmer.
Greenville, Mississippi.
LittleRock, Arkansas. There has been no rain the past
week. Picking is virtually completed. The thermometer
has averaged 40 and hag ranged from 26 to 54.

—

—

—

—

—
—

Dec. 7, '99.

nee. 8, '98,

Feet.

Feet.

2-9
2-7
1-3

63

Above zero of gange.
Above zero of gauge.
Above zero of gauge.'
Above zero of gauge.
Above zero of gauge.

Memphis
NashviUe
Shreveport
VlokabuTg

7-0
9-2
2-8
15-2

12-1
2-3

Manchester Cotton Goods Market.— In our editorial
columns to-day, under the caption of " The Cuban Customs
Tariff," &c., &c., will be found some interesting remarks by
our special correspondent on the Manchester Cotton Goods
market.

New Orleans Cotton Excha.nge Annual

Election,— At

the annual election of the New Orleans Cotton Exchange
held on Monday, Dec. 4, the following ticket was elected:
President, John M, Parker; Vice-President, C. H. Minge;
Treasurer, S. Weis; Directors, Maurice Stern, H. R. Laboussie, E. Bornemann, C. L. De Fuentes. E. I. Glenny,
Thos. Halford, H. C. Ludlow, J. H. Abraham. S. P. Walmsley, J, P. Dobbins, Alfred Lionnet and E. Sevilla.

—

India Cotton Movement from all Ports. The receipts
of cotton at Bombay and the shipments from all India ports
for the week ending Dec. 7, and for the season fiom Sept. 1
to Dec. 7 for three years have been as follows:

Week.

Bombay

35,000

1897.

1898.

1899.
Beeeipta at—

Since

Siriee

Week.

Sept. 1.

Sept. 1.

208.000 40,000

For the Week.

Sinee

Week.

SepLX.

152,000 17,000

58,000

Sinee September

1.

Bzporte

from^

—

—

to 55, averaging

Great
Britain.

Continent.

Total.

&reat
Britain.

Oontinent.

Total.

Bombay—
1899
1898
1897
Calcutta—
1899
1898
1897

2,000
4,000
4,000

1,000
1,000

1,000
1,000

4.000
33,000
16,000

4,000
34,000
15,000

2.606
2,000

3,000
10,000
5,000

3,000
12,000
7,000

2,606
2,000

2,000
4,000
4,000

1,000
6,000
5,000

1,000
8,000
7,000

9,000
35,000
16,000

9,000
39.000
23,000

1,606

Madras—
1899
1898
1897
All others—
1899
1898
1897

3,606

3,606
2,000

4,606
7,000

3,000
8.000
4,000

3,000
8.000
6,000

9,000
11.000

2.606

Total all—

1899
1898
1S37

2,606

17.000

84 000
41.000

i

17.000
93,000
53.000

According to the foregoing, Bombay appears to show a
compared with last year in the week's receipts of
Helena, Arkansas.— Yery little cotton is left in the field. 5,0(i0 bales.
Exports from all India ports record a loss
Dry weather has prevailed all the week. The thermometer of 5.000 bales during the week and since September 1 show
has ranged from 20 to 62, averaging 42.
a decrease of 76,000 bales.
decrease

THE CHRONICLE.

1206

LXIX.

[Vol.

uoMESTic Exports of Cotton Manufactures. — We give
Alexandria Receipts and Shipments of Cotton.—
Througharrangements we made with Messrs. Davis, Benacbi below a statement showing the exports of domestic cotton
& Co. of Liverpool and Alexandria, we now receive a weekly manufactures for October and for the ten months ended
oable of the movements of cotton at Alexandria, Egypt. The Oct. 31, 1899, and for purposes of comparison like figures for
following are the receipts and shipments for the past week the corresponding periods of the previous year are also
and for the corresponding week of the previous two years. presented:
,

Alexandria, Egypt,

December

1899.

6.

Month ending

iuantitiet of Manufactures of Cotton (colored and uncolored)

1897.

1898.

exported to—

Receipts (cantars*)
This week
Since Sept. 1

. .

ThU

2,799,000

Since

week.

355,000
3,084.000

330.000

320,000
3,266,000
Sept. 1.

TM$

Since

week.

Sept. 1.

\

Thi$
week.

Since
Sept. 1.

1

EjcportB (bales)—

21.000 157,000 8,000 110,000 17,000 133,000
21,000 147,000| 19,000 107,000 18,000 115,000

To Liverpool
To Continentt

42,000 304,000! 27,000 217,000 35,000 248,000
Total Europe
A oautar 1b 98 pounds,
t Of wUoh to America In 1899, 19,273 bales; In 1898, 10,589 bales;
In 1897. 14.844 bales.

MA.NoaESTER .vl.\RKET,^Our reporC received by cable
to-night 'rom Manchester states that the market continues
firm for both yarns and -"hir ings, Spinners are cansidered
to b9 well under coatract. We give the prices for to-day
below and leave those for previous weeks of this and last

1899.

United Kingdom

yards

S'ranoe

Germany
Cent. Amer. & Brit. Honduras
aaxiou
janto Domingo

1.30«,786

707,671
67,681
673,266
312.8«0

jQba
Puerto Rico
other W. Indies & Bermnda..
irgentine Kepubllo
IrazU
United States of Colombia...

1.753.-.i89

214.H09
9H9.817
626,o'^6

Other ooontriei in 8. America
3hina
Irltlsh Bast Indies

737.381
16,029,463

812.202
eo.i»3
88.765
216.498
27.808
7,43M,296
881,601

Hong Kong
Japan
^rit Posdes'ng in Australasia
Philippine Islanas
}ther Asia and Oceanioa....
Africa
Other countries

1898.

1899.
8I4 lbs. Shirt- Gott'n
32« Oop. ings, common Mid. 328 Oop.
Twist.
Twist.
to finest.
Uplds

Uplds

to finest.

faluei of other Manufactures
Cotton exported to—

United
France

d.

Nov. 3
" 10
'•
17
" 24
Deo. 1
"

8.

4

67,ai»738
7
a7ifl

87

9

8.

®7

4 10iaa7

®7i9
®7ia
®7ia
®7ia

7

7
7

d.

4

4

lO'aa?
10i3«7

4 10i«3i7
4 10ifl3>7

d.

d.

6

d.

d.

69ig -aess
59ifl «>638
43,2 59,6 ©638
47s2 558 ®638
41132 559 ®638
41132 559 ®6i«

7i«
7I2

4-Ju

7^
7ifl
7ifl

Fall River Mill Dividends.— In our

d.

s.

8.

d.

d.

4

3
0»s®8 7
0>«96 7>4 3

4

0>fla«

4

1
1
1

4

4
4

®6
'96

®6

editorial

8
8I2

9
9

3I32
3332
3i«
3532

columns

to-day will be found an article under the above caption
covering the results for 1899.

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 tonight (Dec. 8) and since
Sept. 1, 1899. the stocks to-night, and the same items for the
corresponding periods of 1898, are as follows.
1899,

Slock.

... ....

•

16,628
1,789

Puerto Rico
other W. Indies and Bermuda
A.rgentine Republic

14.8't8

1,429
6,096
4.661
2,U03

Brazil

Onited States of Colombia
Other countries In 80. America...
China
SrUlBb Bast Indies

426
1,275
1,981
81,009

Kong

655

362,826
97,8 <7
6,407

285.016
65,443
4,936

86,-^61

1,817.636
287,631
379.845
14.148
ie3,»<04

41.1W1
181.89ii

anc

Oceanioa

6,091

17,459
6,555

209

89

32.932

4irlca
Other ooontrles

Total value of other manufao
tores of
$402,691
^Bgregate value of al 1 cotton goods 12.089,115

$327,960 $4,242,990 $3,390,642
$1,628 36H $20 06S.447 $16,153,704

546
354

35,237 21,480 22,093
3,522 4,104 3,143
643 3,834
2,730

58,2.<8

3,81ft

41.540 26.232 29,075

column the

—

—

Since Sept.

1,

1899. iVorth'n MUls.

Exports
Great Fr'nce
Great Fr'nce
Total.
Total. Brit'n.
<te.
BHt'n.
Ac.

75

Savannah...
Charl't'n,&o
Floriaa, <fec.

"ibo

York..

75 11,357
461
"ib'o

"'5

2,390 13,747
461

Since
Week. Sept.!.

1,250

50
i'.oso

9

i',940

9,388
6,458

i"999

total for the

EXPORTS OF COTTON

&o

Exported

to--

Nov.

891

175 11,877

1,073

1,964 4,79d

4,330 16,207

2,310 16,196

2,962

medium

Dec.
1-

fine, 18c.;

fine,

fine, 19 to 20c.;

21>^to23o.

Total
»ince

Dec.

24.

8.

Sept. 1.

Same
period
previous
year.

724

343
250

20
240
200 1.141

36,52?
12,385

85.211
24,445

Tot. TO Qt. Bbit'n. 2,981

593

220 1,381

48.913

109,656

100

13,434

9,049

454

262

100

13,888

9,311

300

1,848

21,725

"49

1.854

i

110
554

5,278

43,860
9,529
16,315

49

301

242 2,512

28,857

69,704

1,163
150

900

171

300
281

10,106
4,374

26,288

1,313

900

171

581

14,480

26,308

.........

other British ports.

Havre

2,257

186

.

1,659

1,117

Other French ports.

Total French

—

1B6

1,659

2,186 12,057

7,751

Quotations Dec. 8 at Savannah, for Georgias, extra
13c.; choice, \S^c.; fancy, U^^c.
Charleston, Carolinas,

Nov.

17.

Otherports
175

Total

same period of the previous year.
FROM NEW YORK SINCE SEPT. 1, 1899.

(BA.LES)

Week Ending—

Bremen
Hamburg

Boston

fully fine.

269

Ouba

LlverDOOl

Total 1898..

37.677
28,618
86.784
67.663
13.126
8,599
10,618
190,406
4,34W

4,867
147,294
68,831
1,535,266
183,139
309,149
18,854
14,100
1.878
83,644
87.746
34.875
83,786
86,370
14,616
2,676
14,921
148,230
2

2,919

Week Ending Dec. 8

Bait.,

$340.84»

16.419
167.166

46,795
5,035
6,458

1898.

The exports for the week ending this evening reach a total
bales were to Great Britain, 175
of 175 bales, of which
to Bremen, and the amount forwarded to
to France and
Northern mills has been 2,310 bales. Below are the exports
for the week and since September 1 in 1899 and 1898.

New

$360,200

938
11.662
li.4a3
152.539
17.662
30.664
2.976
2,0-6
1.047
10.652
6,075
2,606
4.069
4.9S0
1.718
497
8.103
10,536
2

5.871

&o

Total

—

$0476

$80,891

«26,814
2,786
I8.6»e
8,298
148.362
87,741
49.645

dozioo ....
danto Domingo

Asia

$-0466

The Exports of Cotton from New York this week show
an increase compared with last week, the total reaching
4,574 bales, against 1,750 bales last week. Below we give
our usual table, showing the exports of cotton from New York,
and the direction, for each of the last four weeks; also the
total exports and direction since Sept. 1, 1899, and in the last

This
Since
Since
This
week. Sept. 1. week. Sept. 1. 1899.

........

8a.vaTiii 8th

from

$-0472

0;

Kingdom

<riti»h Australasia...
Philippine Islands
Other countries In

170,»i01
36,49.i.288

806,269 10,800.596
62,378

4,170
641
1,060

Receipts to Dec, 8

Charleston.
Florida, &o

1898.

8,2*79.605

$1.8(J0 40. $16,415,467 $12,762,082

Other countries In Europe
British North America
Cent'l Amer. & British Honduras.

Houfi

1

13,163
269.209
22.41b
1,040,773
711.363 10.697,689
1,185.937 12.173,703
631,460
7,831,835
30b,53i
3.084.626
173.694 12.877.464
62,983
6.456,641
l,17a.l6B 16,050.298
24;2.194
1.649,533
77-<!.2u7
6,149.177
632,i'ei
6.736,824
4,474.76i 18,914.1(23
11.780.21^ 188.8K2.6f0
6&3,2»1
4.065.180
833,HM.>1
90,772
47.3C6
584,483
141,41U
8,3»8.6U0

8.827.003
80.648
269,916
1,193,447
15.280,370
9.168.449
6.086.7T6
8.70H.838
249.062
64,468
10.900.864
2,039,751
7,571,998
6,081,503
25,444,940
131,988,000
6,126.842
440,818
601,473
1,389,298
1,714
86,158,686
8,144.627
69,895

27.639.896 352.607 928 268,706,974

Germany
d.

1898.

6,3i8.254
25.8

$1,686,421
$-0612

falueperyard

8I4 lbs. Shirt- OotVn
ings, common Mid.

1899.

663,417

82,916,248

Total yards of above..
Total values of above.

year for comparison.

1898.

618.422
47W
47.8B5
55,047
475.562

Other ootintries In Borope
BHtlih North America

Oct. 31. 10 mos. endinv Oct, 31.

Tot. TO No.EuROP*

Spain, Italy, <&c
All other

Total Spain, &o..

Oband Total

4.529

3,453

1,117

"242

1,750

4,574

20

106,138 "214.979

New England Mill Situation.— Following the action of The Following are the Gross Receipts of Cotton at
the Fall River Iron Works Co. in voluntarily granting an New York, Boston, Philadelphia and Baltimore for the past
increase of 10 per ce«t in the wages of operatives, which week, and since Sept. 1, 1899.
went into effect Monday, Dec. 4, a general movement in that
Philadelph'a. BALTIMORE.
BOSTON.
NEW York.
direction has set in throughout New England. The remainRueipts
ing Fall River mills make a similar advance December 11,
This
Since
ThU .Since
.Since
This
Since
This
from—
and at other points notices have been posted that a 10 per
Sept. 1. wetk.
Sept. 1.
week.
Sept. 1.
Sept. 1, week.
week.
cent addition will be made beginning with December 18,
N.Orleans...

Galveston Cotton Exchange.— At

the annual election,
held Monday, Dec. 4, the following officers were elected:
President, Jalius Runge; Vice-President, Robert Bornefeldt;
Treasurer, George Sealv; Directors: Jens Moller, Wm. F.
Ladd, J. D. Skinner, I. H. Kempner, Eustace Taylor, John
D. Rogers and W. A. McVitie.

—

AtrausTA (Ga.) Cotton Mills to Advance Wages.
It is reported from Augusta, Ga., that the Manufacturers'
Association, which includes among its members the cotton
mills at Bath and Langley, S. C, as well as those in Augusta,
will voluntarily make a substantial advance in the wages of
operatives January 1.

Texas
Savann'h &c
Mobile

...

Florida ....
So. Carolina
No. Carolina
Virginia
North, ports
Tenn., &c.
.

.

Foreign

....

Total

Last

year...

12,941
4,141
6,609

83,baO

260
956
775

2,060

18,138
4,903

33,908
4^,984

3,290

25,756

6,000
704

6,519

6,682

8,000

28,000

362

2,667

14,106

6,368

86,481

68,845
69,371

6,798
6,887

20,235

1.414

^

1,008

643
949

7,416

3,475

1,555

5,149

2,886

63,418
66,166
23,306
12.426

27,918

249,032

.39,396

851,983

9,186

20,787

14.783

94,650

34,679

367,703 84.911

285,119

8,326

18,«37

18,742

111,246

7,917

December

THE CHRONICLE.

9, 1899. J

Jute Butts, Bagqing, &c.— There has been practically no

demand

for bagging the past week, but quotations are un-

—

Liverpool. By cable from Liverpool we have the followtng statement of the week's sales, stocks, &o., at that porti

changed, at 53^@5f^.c. for \% lbs. and 5^@6i^c. for 2 lbs.,
standard grades. Jute butts continue inactive, but the
market continues firm. Prices are nominally unchanged at
l'05c. for paper quality and \%c. for mixing to arrive.
From Messrs. Ira A. Kip & Co.'s circular we learn that the

Sales of the

and rejections at New York and
Boston during November were 5,762 bales, against 145 bales
for the same month last year, and for the eleven months deliveries reached 258,124 bales, against 369,564 bales in 1898.
The aggregate stock in the hands of importers and speculators at New York and Boston on November 30 was nil against
nil at the corresponding date in 1898, and the amount afloat
for the United States reaches 68,640 bales, against 35,040

Amount

deliveries of jute butts

bales last year.

—

Shipping News. As shown on a previous page, the
exports of cotton from the United States the past week have
reached 119,478 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:

New York—To Liverpool, per steamer

5,006
To Belfast— Dec. 1— Steamer Ramore Head, 2,299
To Hull— Dec. 2— Steamer Norden, 250
To Havre— Dec. 2— Steamer Ataka, 5,475
To Antwerp— Dec. e— Steamer Nyiand,350
To Oporto- Dec. 7— Bark Violeta, 200
To Barcelona— Dec 4— Steamer Trojan Prince, 4,350
To Genoa— Deo. 7— Steamer Italiana,6. 871.
OALVB8TON—To Liverpool -Dcc. 2— Steamers Amazonense,
2,922.... Euskaro, 5,138
To Manchester -Dec. 6-8teamer Alava, 4,270
Dec. 5—
To Havre— Dec. 2— Steamer Pharealia, 10,235

SteamerYang Tsze, 19,739
To Bremen— Dec. 1— Steamer Ashmore, 4,916

240
949
192
100

Dec.

6—

Steamer Ellen Rickmers, 9,676

110
554
200
100
200
81
5,006
2,299

250
5,475

350
200
4,350
6,871
3,060
4.270

29,974
14,592

738

13

24— Steamer

Quernmore,

2,753

To Bremen— Dec. 6— Steamer Munohen. 1,678
To Hamburg— Dec. 2— Steamer Batavia, 1,608
San Francisco— To Japan—Dec. 5— Steamer Onfaug, 1,850...

Norfolk....

J>#Xr/^

O'i

***«

m m

1,787
3,501

m m w m

5,925

100

*«B«av

738

Boston
Baltimore.
San Fran..

2,753

3,286

6,039
1,850

1,850

Total.... 33,766 41,474 21,576

244 2,050 119,478

3.359 17,009

To Japan since Sept. 1 shipments have been 1,050 bales
from New York, 15,695 bales from Galveston, 8,971 bales
from New Orleans and 33,403 bales from Pacific Coast. To
China, 3,299 bales from New York.
Cotton freights at New Ifork the past week have been
aa follows.
Satur.

Uverpoo], Deed
Havre, Deo
c.
Bremen, Deo
c.
Hamburg, Dec.c.
Ajnsterdam
e.
Botterdam
c.
Beval, V. Hamb..c.

Do
Do

V. Hull...c.
V. Copen..c.

Genoa

c.

Trieste, direct... c.

Antwerp

d.

Hon.

rue*.

Wedne$.

Thun

Fri.

964

964

9f4

^64

964

9e4

35*

35*

35*

35*

35*

35*

35
30
30
30
45
45
45
40
40

35
30
30
30
45
45
45
40
40

35
30
30
30
45
45
45
40
40

35
30
30
30
45
45
45
40
40

35
30
30
30

35
30
30
30
45
45
45
40
40

ifl

i«

45
45
45
40

40

Ghent, v.Antw'p.d.
^S2
5s2
5^9
^32
0S2
Quotations are cents per 100 lbs. or fraotlons of a penny per
* And 5 per cent.

69,000
2,000
1,000
59,000
11,000
87,000
749,000
659,000
66,000
38,000
138,000
138,000

The tone of the Liverpool market for spots and futurf b
each day of the week ending Dec. 8 and the daily closing
prices of spot cotton, have been as follows.
BaVday. Monday. Tuesday. Wed'day, Thursd'y Friday.

Spot.

Good

Good

Market, )
P. M.^

Quiet.

Basler.

business
doing.

Easier.

41332

4"32

41I32

4933

46i6

8,000

15.000
1,000

12,000
1,000

10,000

15,000
1,000

1:45

Bales
Spec.

4 exp.

500

500

business
doing.

Quiet and
Irm.
411s2

10,000

500

Market,

}

1:45 P. M.5

Market,
4 p. M.

vance.

Easy at
4-04 decline.

Steady.

Easy.

Steady at
1-64 ad-

}

Steady at

Steady at Easy at
1-64® 2-64 «-64 @ 3-64
advance.
decline.

Quiet.

Quiet but
steady.

Quiet.

Steady.

I

partially
1-64 adv.

Quiet.

The prices of futures at Liverpool

for each day are given
Prices are on the basis of Uplands, Low Middling
clause, unless otherwise stated.
The prices are given in pence and 6^ths. Thus : 3 63 meati s
__„
3 63-64d.. and 4 01 means 4 1-64(1.

below.

mon.

Sat.
Dec. 1 to
Dec. 8

Deo.-Jan
Jan. -Feb
Feb.-Moh.

TVea.

Tbars.

Frl.

12it 1 1:45 4 1:45 4 1:45 4 1:45 4 1:45 4
P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M.
d.

December.

Toes.

..

Mch.-Aprll..
Aprll-^lay ..
May-June...
June- July...
July- Aug....
Aug.-Sept...
Sept.-Oct...

d.

4 12 4
4 10 4
4 09 4
4 09 4
4 07 4
4 06 4
4 05 4
4 04 4
4 01 4
3 59 3

d.

<t

i

4 16 4 16

.

d.

412 4 10 4

4
4 07 4
4 05 4
4 04 4
4 03 4 04
4 02 4 03
4 01 4 02
4 00 401

14|4 10 4 08

12 4 08
114 07
10 4 05
08 4 04
07 4 03
06 4 02

064

d.

d.

d.

d.

11 4 11 4 OS 4 07 4
09 4 09 4 06 4 05 4
07 4 08 4 05 4 04 4
06 4 06 4 03 4 02 4
05 4 05 4 02 4 01 4

4 04 401 4 00 4
4 03 4 00 i63 4
4 02 3 63 3 6;^ 4
4 02 3 63 3 62 4

01
03 3 62 3 61 3 62 3 63 3 60 3 59 3
58 3 54 3 54 3 54 3 55 3 53 3 53 3

Oct.-Nov

10
08
06
05
03
02
01
00
00
61
54

d.

d.

d.

4 11
4 09
4 07
4 06

4 13 4 11
4 11 4 08
4 09 4 07
4 07 4 05
4 04 4 06 4 04
4 03 4 05 4 03
4 03 4 03 4 01
4 01 402 400
4 00 4 01 3 63
3 61 3 62 3 60
3 54 3 55 3 53

....

BREADSTUFFS.
Friday, Dec. 8, 1899.
been transacted in the
and prices have shown a hardeniner

A moderate volume of bueiness has
wheat

tendency, reflecting an upward turn to values for the grain.
The home trade has shown increased interest, and there also
has been a slightly better demand from the United Kingdom.
City mills, however, have been quiet. Rye flour has ha<i
only a limited sale, but the tone of the market has held
steady. Buckwheat flour has been quiet and easier. Cornmeal has been quiet but steady at unchanged values.
Speculation in wheat for f ature delivery has continued on
a moderate scale only, but there has been a gradual hardening of prices. Foreign advices have been of a more encouraging nature, markets abroad being firmer with Russia less
of a competitor, and as a consequence the export demand for
American wheat has increased. The crop movement has
been running comparatively small and this too has had its
Saturday prices adinfluence in favor of the market.
vanced slightly on better foreign advices than expected.
Monday prices made an additional gain of 3^@%c. on
a decrease in the visible supply and a small movement
of the crop. Tuesday there was a firm market and prices advanced ?8@lc. There was moderate buying for investment
account, stimulated by bullish world's statistics, a continued
light movement of the crop and an increasing export demand. Wednesday there was a steady market, prices for
the day showing no decided change. Thursday there was
an easier market early under realizing sales, prompted by
disappointing foreign advices. Subsequently, however, on
the small crop movement and a fair export demand the loss
was more than recovered. The spot market has been more
active, as exporters have been freer buyers; prices have advanced. To-day the market was firmer, the strengthening
factor being the continued small movement of the crop. The
spot market was firmer but quiet. Sales for export here and
at outports were 80,000 bushels.
TORK.
DAILY CLOSING PRICES OF NO. 2 RED WXHTEB IS
Tues.
Mon.
Wed. Thurs.
Fri.
Sat.
74i«
73''8
7338
74\
72%
Tj^s
Cash wheat f. 0. b

3,521
9,526
2,746
1,271

««•

73,000
4,600
4,100
64,000
10,000
72,000
781,000
694,000
67,000
60,000
140,000
140,000

market

~..«..
119,478
of the foregoing shipments, arranged tn
onr usual form, are as follows.
0reat FrtneK Oer- r-Oth.Wrope-^ Mexico,
Brit'n, portt. many. North. South.
Japan. Total.
<ic.
100 1,958
New York. 1.381
554
300
4,574
81
200
N. Orleans. 7,555 5,475
35011,421
24,801
Cialveston. 12,330 29,974 16,232 2,455
60,991
Tex. C.&o.
163
163
Mobile
3,258
3,258
J 4

...

63,00C
3,100
1,500
57,000
11,000
79,000
796.000
703,000
142,000
123,000
120,000
120,000

1,678
1,608
1,850

Total

^

afloat

Of which American

55,000
4,200
1,000
47.000
7,000
72,000
744,000
652,000
93,000
71,000
210,000
210,000

Dec. 8.

2,753

The particulars

Pensacoia.
Savannah..
Charleston

bales.

Deo. 1.

Futures,

1,848

To Hamburg—Dec. 5— Steamer Elderslie, 1,640
1,640
To Rotterdam— Dec. 5— Steamer Glenroy,l,050
l.OiO
ToCopenhagen—Dec. 2- Steamer Inglefleld, 1,405
1,405
Texas City, ifcc—To Mexico, per railroad, 163
163
Mobile—To Liverpool— Dc. 7-Steamer Becoliff, 3,258
3,258
PBN8A.COLA—To Dublin— Dec. 2— Steamer Marie Elsie, 1,734... 1,734
To Genoa— Dec. 2— Steamer Scawfell. 1,787
1,787
Savannah- To Havre -Dec. 24— Steamer St. Oswald, 5,860
upland and 75 Sea Island
5,925
100
To Bremen— Dec. 4—Steamer Platea (additional), 100
To Barcelona— Dec. 6— Steamer Glenisle 3,501
3,501
Charleston- To Liverpool— Dec. 5— Steamer Eastry, 2,746... 2,746
NoaroLK- To Liverpool— Deo. 2— steamer Ir;in, 1,271
1,271
Boston- To Liverpool— Nov. 28— Steamer Turcoman, 725...

1— Steamer Sagamore,

week

Of which exporters took...
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

Nox. 24.

Mid. Upl'ds.

240 (479 small

To Hull, per steamer Colorado, 949
To Maiushester, per steamer Nasmyth, 192
To Havre, per steamer La Champagne, 100 Sea Island
Darmstadt, 845..
To Bremen, per steamers Aller, 553
....H. H.Meler,450
To Hamburg:, per steamer f41anton, 110
To Antwerp, per steamer British Queen, 554
To Lisbon, per steamer Dona Maria, 200
To Naples, per steamer Ems, 100
To Japan, per steamer Saint Bede, 200
To China, per steamer Saint Bele, 81
Mbw OKLEAN8—To lulverpool— Deo. 5— Steamer Electrician,

Dec.

Nov. 17.

Total baleu
Cuflc,

round)

Baltimore— To Liverpool—Nov.

1207

^32
lb.

for

flour,

.

NEW

Deo. delivery in elev
Mch. delivery in elev....
May delivery in elev

70''8

7413

7114
74i«

75^2
7458

72i6
7538
74^4

6958

69i8

IM^

69%

72

72^^
7553
74^8

73''8
74
DAILY CLOSING PRICES OF NO. 2 SPRINQ IN CHICAGO.
Tues.
Wed.
Mon.
Thurs.
Sat.
6538
Qt^
68
64%
Dec. delivery In elev.... 64i«

May

delivery in elev
July deUvery in elev

6883

68%

6883
iid^

73
76
7554
Fri.

69%

6668
70ie

70^4

70%

THE CHRONICLE.

1208

Indian corn fntnres have been quiet but the market baa
fairly good undertone and prices have advanced. At
the opening of the week the movement of the crop was fairly
Subsequently, however,
full, and values weakened slightly.
on a decreased movement of the crop and comparatively small
country acceptancep, there developed a stronger tone and
prices advanced. Sympathy with the rise in wheat values
Business in the spot market
also had a favorable influence.
has been moderately active and prices have followed futures.
To-day the market was firmer on the movement of the crop,
being below general [expectations. The spot market was
firmer but business was quiet. Sales for export here and
at outports were 204,000 bushels.
YOKK.
DAILY CLOSING PBICKS OF NO. 2 MIXED CORN IN
8af.
Wed. Thurs.
Fri.
Mon. Tues.
SPSg
40^4
40^4
40
39^
40%
Cash com, f. o. b

shown a

NEW

Deo. delivery in elev....
May delivery in elev

38

SS^a

38i4

38^

3"^%
3853

DAILY CLOSING PRICES OF NO. 2 MIXED CORN
Mon.
Tues.
Sat.
30
Dec. deUvery in elev.... 30
sg-'-a
3038
30
Jan. delivery in elev.... 30^4

May

32i8

delivery in elev

32i8

3258

SS'^S

394

[Vol. T.XTX.

Domestic Cotton Goods.— The exports of cotton goods
from this port for the week ending Dec. 4 were 1,363
packages, valued at |74,457, their destination being to the
points specified in the tables below :

Nbw York to

1899.

Dec.

1898.

4.

Week. Since Jan.

Great Britain
Other European......
China
India
Arabia

12

104
526
77
132
510

Mexico
Central America

South America
Other Countries....

3858
S8»s
IN CHICAGO.
Fri.
Wed. Thurs.
2978
30^4
30%
30»4
31
SO^a
3238
3258
33

3,067

4
388
42
95

147.509
10,456
32.099
10.S40
14 535
4 244
7.849
50,300
14,767

924
221,4H5
3,< 94
48.199
14,450
28,128
4,43S
10,151
39.152
7,185

,

Africa
West Indies

42
28

1,889

2

Since Jan. 1

TV ee A:.

1.

968

1,541

122

38'78

Total
China, via Vancouver*....

379.105
24,509

2,263

296,134
21,823

1,363

403,614

2,263

317.957

Total

1,363

Prom New England mill points direct.
The value of the New York exports for the year to date

'

Oats for future delivery at the Western markets have been
quiet, but in sympathy with stronger markets for other
grain and a limited crop movement, prices have advanced
Locally there has been a moderately active spot
slightly.
market, as there has been a limited demand from exporters
and the home trade has been buying; prices have held steady.
To- day the market was firmer, with other grains. The spot
market was firm but quiet.
YORK.
DAILY CLOSING PRICES OF OATS IN

has been $13,998,164 in 1899 against 110,523.247 In 1898.
A renewed upward movement in bleached cottons is noted
at the close of the week in the advance of Lonsdale 4-4 to
8c. and of ^^c. per yard in a number of other lines; the demand has been moderate, but still so much ahead of supplies that sellers have all the advantage.
Wide sheetings
also are 10 per cent higher in leading makes.
Business in
brown sheetings and drills is quiet on home trade account
and slow for export, but prices still tend upwards and adFri.
Thurs.
Sat.
Wed.
Mon. Tues.
29ia vances of JgC- to }4c. per yard are generally noted in botlj
29^2
30
2912
30
30
2 mixed in elev
No.
heavy and light weights. Fine grey goods are difficult to
31
31
31
31
31
31
No. 2 -white in elev
buy, but no dearer on the week. In denims, ticks, plaids
DAILY CLOSING PRICES OF NO. 2 MIXED OATS IN CHICAGO.
Fri. and other coaree colored cottons the market is very strong.
Wed. Thurs.
Mon. Tues.
Sat.
22^3 There has been a general advance of
2/14
2238
2214
2238
Deo. delivery In elev.... 2214
J^c. per yard, and at

NEW

23''8
24% that orders are difficult to place at the close. Kid-finished
23%
24
24
May delivery in elev.... 23\
prices have advanced. Barley has cambrics advanced i^c. and silesias and corset jeans and satRye has been firm and
been in fair export demand and firm. Buckwheat has been eens generally '4-C- per yard. Prices on new fancy prints

quiet.

Following are the closing quotations:
FLOUR.
Fine
Superfine
Extra, No. 2
Extra, No. 1
Clears
Straights
Patent, spring

$2 00
2 25
2 30
2 50
2 85
S 35
3 70

(Wheat 'flour in sacks
Wheat, per bush,—

®2 45
®2 60
-312

@3
@S
@3
®4

80
00
35
60
40

I

'

Patent, winter.... $3 90
City mills, patent.. 4 00
Ryeflour,8uperflne 3 10

Buckwheat flour.. 2
Corn mealWestern, eto

Brandy wine

2
2

®4 10

®4 30
-3)3 50
00 ®2 25
15 ®2 25
25 ®2 30

below those for barrels.)
GRAIN.
c
Corn, per bush.—

sells at prices

0.

o.

Hard Duluth, No.l 78%®80ifl
N'th'DDuluth,No.l
Red winter. No. 2.
H'd Manitoba No.l
Oats— Mix'd, p. bush.

1

77»fl@79i4

73 ©7534
78>u®80i4
29 ®3l
oO @35
29^-3130^
31 a»32

Western mixed
No. 2 mixed
Western yellow
Western white

38i2®41
ai40%
40 ®41%

39

39i8®40''8

Rye, per bush-

55i3®61ia
Western
57 ®61
State and Jersey
44 ®54
Barley—Western
No. 2 white
40'a@44i3
Feeding
IV For other tables usually siveu here see pace 1179.

White
No. 2 mixed

for spring have been fixed at .53^c. for best grades, and demand coming forward thereat. Staple prints are frequently
14c. higher and are selling well.
Staple ginghams advanced
J^c. in leading makes.
Best dress styles generally J^c,
higher. Print cloths advanced to 8)40. for regulars and
fair business thereat.
Odd goods quiet but strong.

Foreign Dry Goods. — Business has been moderate

Dress goods are dull in staple lines, the demand running on novelties almost entirely. Prices firm.
Silks and ribbons are firm but sales moderate.
Laces quiet.
Linens quiet but scarce and firm in price. Burlaps without material change.
Importations and M^areliouse Wlthdravirals of Dry Goods
The importations and warehouse withdrawals of drj goods
at this port for the week ending Dec. 7, 1899, and since
January 1, 1899, and for the corresponding periods of last
vear are as follows:

to
9

THE DRY GOODS TRADE.
New York, Friday, P. M., December 8. 1899
general demand this week has been of moderate dimenThe
sions and the strength of the situation is shown by the fact
that this has been no check to the upward movement in
either the cotton or woolen goods division. In both, prices
have made a further advance, and at the close the tone is as
strong as at any time of late. Even with the smaller demand
the scarcity of ready supplies of merchandise is marked, and
the reserve of sellers in accepting business for forward delivery is as pronounced as before. The week's advances have
been numerous and are fairly established by the fact that business is doing at the higher prices at the close. A strong feature
of the situation is the extent to which buyers are calling for
deliveries on existing orders ahead of contract time, and
considerable merchandise is going forward now which had
been bought to be delivered in the early part of next year.
This confirms the reports coming to hand that distribution
onthe part of jobbers and others has been on a larger scale
than provision had been made for and to a demand coming
forward later on to meet requirements for which it was
thought provision had already been made.
Woolen Goods.— The continued upward progress of raw
material is a strong factor in the market for men's-wear
woolen and worsted fabrics and is solely responsible
for a number of advances in quotations made recently,
been too
has
forward
coming
demand
the
as
Sellers
upwards.
to force prices
preliminary to opening
are, in fact, feeling their way
up new lines of heavy-weights for next fall, and
the latest prices may in that respect be regarded as more or
The demand for overcoatings in new heavy
less tentative.
weights has been on a liberal scale and further advances of
5 per cent have again been not«-d. Business in cloakings is
Dress goods continue
indifferent and prices without change.
strong, with a marked upward tendency in prices. Flannels
and blankets are quiet, but strongly held, under influence of

moderate

raw

of

material.

itself

in all

departments.

Z.*

H

to
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December

THE CHRONICLE.

9, 1899.J

the

1209
About one million

State of Kansas.

of

bonds

issued in aid of various railroads have been thus re-

TERMS OF SUBSCRIPTION.
The Investors' Supplement will be fnrniehed without
extra charge to every annual subscriber of the Commercial
AND Financial Chronicle.
The State and City Supplement

will al&o be furnished
without extra charge to every subscriber of the Chronicle.
The Street Railway Supplement will likewise be furnished without extra charge to every subscriber of the

Chronicle.

The Quotation Supplement, issued monthly, will also be
furnished without extra charge to every subscriber of the
Chronicle.

TERMS for the Chronicle with the four Supplements
above named are Ten Dollars per year within the United
States and Twelve Dollars in Europe, which in both cases
includes postage.

Terms

of Advertising— (Per Inch Space.)

Transient matter (eafhtime)$4 20 Three Months (13 times).. $29 00
STANDING BUSINESS CAHD8.
Six Months
(26 times).. 50 00
Two Months (8 times)
$22 00 Twelve Months (52 times). 87 00

MUNICIPAL BOND SALES IN NOVEMBER,
Little

new can be

said relative to the municipal

funded during the past few months, mainly through
the house of Kelly, Foote »& Co. of Topeka, Kan.
Many of these township bonds have also been advertised
for sale by E. D. Shepard & Co. oi New York City.
These sales have been reported from time to time in
the Cheonicle, but without details as to the terms
upon which the bonds were disposed of. This will
explain the reason for the large aggregate shown in our
table below of sales where no price was mentioned.
The total of all municipal bond sales for November
is $8,784,739, not including $940,682 of temporary
loans negotiated nor including bonds recently issued
by some of the Mexican States or in the Dominion of
Canada. These figures compare with $9,314,854 for
October 1899 and with $7,721,284 for November 1898.
Other November totals have been: $6,868,775 in
1897, $34,913,894 in 1896, $6,524,901 in 1895, $4,549,-

580 in 1894, $7,300,770 in 1893 and $5,176,012 in
As viewed from our record of
1893.
sales for the month of November, it presents few, if
The number of municipalities issuing bonds during
any, features other than those prevailing for some
months past. Prices have been somewhat erratic, as the month was 169, emitting 195 separate issues, as
may be seen from New York City's sale on Nov. 17 against 110 and 134 for November 1898 and 133 and
field for

investments.

1899 of 4| millions on a basis of about 3 "16 per cent,
whereas Ohio State University was able to do better
than a 3 per cent basis a week earlier, and Toledo,
Ohio, a week later sold her bonds on a 3*09 per cent
basis.
These latter sales, however, were for small
amounts, the issues being but $30,000 and $15,000,
respectively.

145 for October 1899.

The

principal sale of the

whose

size

City.

On November

month and

the only one

warrants mention was that of

New York
asked for

16 1899 bids were

$4,765,000 3^ per cent corporate stock of this city,
and the award was made on the following day to Faran interest
son, Leach & Co., New York, at 106*10

—

The November elections resulted generally in favor basis of about 3"16 per cent.
In the following table we give the prices which were
of the bond issues, although quite a number of bond
for November loans to the amount of $7,260,268,
propositions met with the disapproval of the voters. paid
The aggregate of sales
In our columns we reported guccessful results aggre- issued by 94 municipalities.
gating nearly 19^ millions, including the S12,0U0,- for which no price has been reported is $1,524,471, and
In
000 water loan of Philadelphia and the 14,700,000 the total bond sales for the month $8,784,739.
the case of each loan reference is made to the page of
water loan of Denver, Colo. About 1^ millions of
the CHROifiCLE where a full account of sale is given.
bonds met with defeat.
NovEMBEE Bond sales.
A compromise seems to be in a fair way of being
Page,
Maturity.
Location.
Mate.
Amount. Price,
reached in the Dallas County (Mo.) long-standing and 1074..AccomacCo.,Va
4-4
1900-1905
$12,000 100
11 15.. Albany, N.Y
4
1900-1904
130.750 10140
bitterly-fought bond controversy, whereby an issue lll5..Alviso (Cal.)8ch.Dist. 6
1901
2,000 1(.3'528
973..Appleton (Wis.) Sch.
of $248,000 new bonds will be made, of which $148,Dist. No. 1
4
10,000 100-85
1900-1909
6
iSl 103-77
000 will go to the holders of the old securities in lieu 1025..Arlmgton Heights, O. ^^"^
1904-1928
6,000 100
1074 BallatonSna NY
l074..±JaU8tonspa, JN. Y....^3^
1904-1928
44,000 101514
of their claims for both principal and accrued interest 1169. .Bellefontalne. Ohio... 6
19C0-1909
1,072 109-809
Sch.
(111.)
on their holdings, and the remaining $100,000 to the 1159. Belleville 4
Dist. No.
4
1919
12,000 106
Nov.1,1900
3
11,198 100
Missouri Pacific Railroad as a bonus for the exten- lllS.Buffalo, N. V
1211..Buflfal0.N Y
July 1, 1900
3
14,350 100
1924
25,00 104-91
SHi
sion of one of their branch lines through the county. 1074.. Burlington, Vt
*1905
9,000 100
1211. Campbell, N.Y
3%
5
tl909-1919
43 000 100
The details of this agreement as given by the press 1211 Chaffee Co.. Colo
4
1911
100.000 107-?37
1116.. Cleveland, Ohio
4
25,000 100-06
will be found on page 1074 of the present volume of 1159..ClintonCo., Mo
.

the Chronicle.

On November

16, 1899, the

First

Circuit Court of

Ohio sustained the contention of the Board of Trustees of the Cincinnati Southern Railway, that they
had a legal right to extend the time for the payment
of certain bonds maturing in 1902, which were originally issued by the City of Cincinnati to build the
abovt -mentioned road. A few days later, however,
in view of the possibility of the

case being taken to

ll59..Collinwood, Ohio
1159..Comnwood, Ohio
1075.. Columbus, Ohio
1075 -.Defiance. Ohio
1159. Dickinson Co. Iowa..

llfi9..Dodgeville, Wis
1116.. Durand, Mich
1159. .East Liverpool, Ohio.

1159..Ea8tport, Me
1026..E. Stroudsburg, Pa...

4
4
4
4
4
4
5

tl904-l919
fl904-1919
1929-1939

4

1919

3>«

4

Til909

5

1900-1909
1909
1909
11919-1939
1900 1909
1919
1902-1912
i919
1903-1909
1900-1904
1949
1909

Excelsior (Cal.) Sch.
Dist
1026 Fayette, Mo
1116.. Fern Bank. Ohio
1116..Gaffney City, 8. C
1160. .Qalliiiolis, Ohio
lltO Griswold, Conn

Dist

This action has
been concurred in by the Trustees of the Sinking

Fund

of

these bonds.

of Cincinnati.

Very extensive refunding transactions have been
developing this fall amongst townships throughout

10105
101035

60,oOO

l'',000

50,000
21,00
10,000

100

20,.'i00

100128.

104-13
101-01

•

30.000 106-666
20,C00 1<'7-176
20,000 100
20,000

^

J^^i^^

1075

6
5
5
SH)

4
the Supreme Court (a decision from which could not 1211..Ha2erstown, Md
l< 2«.. Hamilton, Ohio
S^a
4
be expected before the date set for the refunding 1075.. Kenton, Ohio
4
1026 Kingston, N. Y
974..Lanfinsburg, N. Y.... 4
operation, namely, Jan. 1 1900), the Board deemed
ljl6..Leh) City, Utah
6
it expedient to reject all proposals received last July 1075. .Le Boy (Minn.) Sch.

for the extension

1925
1915
1919
1910-1920

1075..Lima, N. Y
1160. Lima (Ohio) Sch.
1076.. Lincoln.

Dist

1909

107
101-875
107 25
eO.OliO 103-H6
1,5'^8

10.000
18,000
'2,100

lO.cOO
15,000

841
60,0'

Neb

10226
100

11618
100

7,500
23,000
15,000
3.000

100

1901-1926
1900-1914
1900-1909
1900-1905
1904-1908
1901-1910
1919

4.5"0
46,000
15,000

4

11909-1919

5,500

5

104-53
107 05

6,000

4
4

Dist.

11 60.. Logan Co.,
111)0.. Loaan Co..

Ohio
Ohio
1117. .Lorain, Ohio
1212 Lorain, Ohio
11 17.. Louisiana (Mo.)

4
4
5
5
5

1.000 102-50
11,000 100

10409
110006
100

5,00 104-65
10956
102-77
104-55

Sch.

100

THE CHRONICLE.

1210

Amount.

Price.

Rate.

Maturity.

4
4
4

1919
1924
1900-1912

$36,000 111-637
20,000 113-637
130,000 i \qq^^

issues)

4

1117.. Manbato, Minn
]212..Manlius, N. Y
1160.. Mason, Ohio

4

1907-1913
1919
1901-1929

15.000
1 2,000
100,000
1,500
35,000
12,000
10,000
7.000
19,000
12,000
29,750
63,000

Location.

Pope.

Mass
1026.. Maiden, Mass
1160.. Manistee, Mich
102ti.. Maiden,

1076.. Manitowoc,

Wis.

(3

3^
5

1076..Medford, Mass
1160..MiddlesexCo., Mass..

4

1160..MiddlesexCo„Mass..
1161..MooreCo., N. C
1076. -Newark, N. J

3^
5
3^
3^

1117..NewRoclie]le, N. Y...
1117.. New Roclielle, N. Y.
1161. .Newton, Mass
1076. .New York City (7 is.

sues)

1117.. North Bergen (N. J.)
Sell. Dist
1027.. Norwood, Ohio
1076.. Ohio State University
1117. .Omaha, Neb
1213.. Ontonagon, Mich
1076..OrangeCo., Cal

1117 PenArgyl, Pa

1 118.. Pomeroy, Ohio

1161. .Port CllntOD.O (2 las )
1161.. Port Clinton, Ohio. ...
1118. .Pueblo, Colo
1118. Remington, Ind

1900-1903
1900-1904
1907-1913
1929

19041915
1900
1939

6

4

3^

1919&i929

5
4

1920-1922
1900-1P09
1905-1906
1919
1900-1939
1901-1920
11904-1919
1004
1900-1909

i^
4
5
414

4

1213.. Peoria, 111
121 3.. Peoria, 111
1076..Plunia8Co., Gal

March," 1919

3^2

6

6
4
4
5
5
4ifl

TI1934
1901. 1920
1901- 1910
tl909 •1914

4

1900 1909
1905 1910

1027.. St. Bernard, Ohio
1213..Salamanoa,N. Y
1213. .Salem, Ohio

S^a

1904- 1913

1077. -San Luis Obispo, Cal.

5

1900- 1904
1900- 1939

1077.. Savannah (Mo.) Sch.
Dist
1162.. Schenectady, N. Y. (2

4ifl

1901-1912

.

Rock

1118

Island,

111

issues)

1028. .Sheridan Twp., Kan..
1118. .Spokane, Wash
1213..8teeltOD, Pa
1213..Steelton, Pa..
1078. .Stevens Point, Wis...
.

1118.. Tallahassee, Fla
1078.. Taunton, Mass
1078 .Taunton, Mass
.

1078. .Toledo, Ohio
1162. .Toledo, Ohio
1162.. Tower, Minn
1162.. Trenton (Mich.) Sch.
Dist
1119..Turtle Creek, Pa
1028.. Victoria, Texas (2 issues)

1162. Warren

Co.,

Miss

1119.. Waxahachie, Texas...

6

1900 1909

4
5

4
5
6

1901-1904
tl910-1918

4

1904-1909
1909-1929
tl909-1919
1 1904-1919
1929
1919
1919
1919
1901-1903

4
S^a

4
4
4

1

103 07
105-317
101-36
105
111-68

10061
100-72

102
106-31

10034
100-87
118-76

106-10

4,765,000

6,000 110-55
14.490 102-51
30,000 109-016
25,000 107-252
40,000 100
100,000 101-525
19,000 100
12,100 108
10,200 100-625
35,100 101-196
6,000 100-604
7,400 1 101-38
2,500
10,500 100
2,274 100
30,000 104-126
10,000 101-51
19,087 10125
1,300 101-S6
116,000 101-724
9,0C0

102-77

9,473
10.000
3,399
30,000 )

101-130

65,(100

100
100
102*49

\

5,000
16,000
^

100
100-50
100

3
5

5
6
4

11909 1939
tl904-1919
11909-1939

115-53
111-66
96-70
100-00
98-66

10,000
20,000

3

30,000
4,000
60,000
^
15,000
3,000

97-00
114-618

14,000
4,2c

45,000

100

100
105-10

100

1119..Willmar (Minn.) Sch.
Dist
1119.. Winchester, Mass
1078..Woodbridge, N. J
1119. .Worcester, Mass
1028. Y'ounestown, Ohio
1028.. Youngstown, Ohio
1119. .Youngstown, Ohio
1119. .Youngstown, Ohio...,
1163.. Zanesville, Ohio

4ifl

1914

3^

*1908
1915-1919

5
3^2
5
5
5

igbi-iobs
1901-1903

900 10269
425 102-24

5

5

8,000 100-625
30,100 102-02
5,000 11011
50,000 107-78
1,400 10651
600 104-76

1900-1909

11,500

108-091

Total (94 municipalities, covering 120
S7,260,268
separate issues)
Aggregate of sales for which no price has
been reported (75 municipalities, covering
1,524,471
75separateissue8)

fourteen years ago to aid in constructing the road. The
bonds, which were issued, were deposited in a local bank,
where they still remain. The railroad was to have been finished in 1887, but nothing had been done up to that time,
and an extension was granted. The terms were not complied with, nor was there any work done after that date.
Last year a syndicate, alleging its intention was to immediately build the road, demanded the bonds. The county refused to make the delivery. Suit followed, and the Circuit
Court declared the company had forfeited all rights and ordered the bonds burned. On appeal by the plaintiff, the Su-

preme Court upheld this decision.
Helena, Mont. Funding Bond Issue, We are advised by
the Union Bank & Trust Co. of Helena that they have been
appointed Redemption Agent for the purpose of conducting
the exchange of warrants for bonds. As stated in the State
AND City Supplement on page 137, the warrants which it is
proposed to fund were declared illegal by the State Supreme
Court some two years ago, and it is the city's purpose to
issue illegal bonds in exchange for the warrants and to preserve the warrants, to be returned to the original owners in
the event that the city is enjoined from paying the interest
on these bonds. The bonds will bear 3% interest and will be
dated June 1, 1899. They will be in denominations of $.50,
$100 and $500. Where the amount of warrants and accrued

—

interest at the rate of d% is slightly in excess or a little less
than $50, the bank will purchase the excess at the rate of 45c.
on the dollar and will sell at 55c. on the dollar. The City
Council, we are advised, has made an appropiation of $7,500
to meet the payment of the interest on these bonds due Dec.
Holders of these warrants may
1, 1899, and June 1, 1900.
address George L. Ramsey, Cashier of the above bank.
Los Angeles, Cal. School Bond Issue Not Approved.
Messrs. Dillon
Hubbard, attorneys for Seymour Bros. Co.,
N. Y. the purchasers of the $200,000 S%% school bonds, have
withheld their approval of the bonds, claiming that there is
a reasonable doubt as to their legality, and that they will not
approve the issue until they have a decision from the State
Supreme Court affirming their legality.

—

,

Mitchell, S. Dak.— Bonds Fahd.—The following telegram
from Pierre dated Nov. 27, 1899, appeared in the Omaha
"Bee:" "In the Supreme Court today an opinion was
handed "^down by Judge Haney in the case of the City of
Mitchell against J. K. Smith, City Auditor. The decision
sustains the validity of an issue of refunding bonds of the
city of Mitchell to take up water-works bonds issued in 1886.
The Auditor had refused to sign the refunding issue, asserting illegalitv of the first issue on account of limitation of indebtedness."

Ti

October bond sales amounting to $9,210,554>
Since the publication of that statewill be found.
ment we have received the following additional reports.
Additional October Bond Sales.
of

Maturity.

11909-1919

1901-1903

Amount.
3,500

Price.

105-43

800 100-125

tl909-1919

14,000

101

1900-1909
1904-1906
1900-1939

2,000
6,000
78,000

108-526
102-783

Total additional sales for October

$ 1 04,300

—

Santa Fe County, N. Mex. Bond Compromise. The following item relative to the indebtedness of Santa Fe County
appeared on Nov. 30, 1899, in the St. Louis " Globe Democrat

;"

" The citizens' committee recently appointed to adjust the
$900,000 debt of Santa Fe County with its creditors advises a
25-cent-onthe-dollar compromise. Most of the bonds, which
were issued twenty years ago to secure railroad extensions,
are held in New York City. The county's valuation is only
$1,700,000, and it has been unable within the past years to
pay the interest on the bonds, but rather than resort to repudiation is willing to compromise by issuing 4% thirty-year
bonds on the above basis."

Bond Calls and Redemptions.

Average of dates of maturity, t Subject to call in and after the
earlier year and mature in the later year, t Not including $940,632
of temporary loans reported and which do not belong in the list.
Subject to call at any time.
In the Chronicle of November 4 1899, page 972, a

Rate
Location.
Page.
1026..Brltton (8. D.) School
5
District
1116. .Harrison Twp. (Ohio)
6
Sch. Dist
1026.. Lebanon (lU.) School
4
District No. 3
1028. .Santa Suzana (Cal.)
6
Sch. Dist
5
1118..Shelbyville. Mo
5
1078.. Woodland, Cal

&

&

Total bond sales for November 1899... 1$8,784,7S9
«- '

list

\\oh. LXIX.

100

—

Joplin, Mo. Bond Call. This city has called for payment Jan, 1, 1900, at the Fourth National Bank of St. Louis
Q% bonds Nos. 26 to 82, inclusive, dated July 1, 1890.
Liberty Township, Dickinson County, Kan.— Bond Call.
Herman Oesterreich, Township Treasurer, has called for
payment Jan. 1, 1900, at the State fiscal agency in New York
City, $8,fl00 bonds issued Dec. 28, 1887, in aid of the Chicago
Kansas & Nebraska RR. Securities are in denomination of

—

$1,000.

Multnomah County, Ore,— Warrant CaZ/.— Ralph W.
Hoyt, County Treasurer, has called for payment county
warrants, classes 35 and 36, drawn upon the general fund,
that were presented and indorsed "Not paid for want of
funds" from Nov. 1, 1898, to Nov. 30, 1898, both dates incluInterest on these warrants ceased on Nov. 2S, 1899.
sive.
Ohio County, W. Va.— Bond Call.—B.. P. McGregor. President Board of Commissioners, called for payment Dec. 1,
1899, at the German Bank of Wheeling, the following 4% 530-year bonds
Nos. 54, 69, 106, 122, 127, 136 and 142.
Pierce County, Wash. Warrant Call. Stephen Judson,
:

—

—

County Treasurer, called for payment Dec.

5,

1899, the

62.

issued 18l«.

These additional loans will make the total sales lowing school district warrants
District.
District,
(not including temporary loans) as reported for Octo- No. J— Nos. 275 to 278, Issued 1808.
No. 26— Nos. 155 and 156, issued
ber 1899

amount

to 19,314,854.

No. 2— Nos. 316 to ai9, issued lf-99.
No. 3— Nos. 601 to 635, issued 1809.
No. e— No. 4«, issued 1899.
No. 8-N08. 21 to 29. issued 1893.
No, 10— Nos. «,189 to 6,909, issued 1898

No. 34— Nos. 48 to

fol-

1899.

37— Nos. 29 to 42, issued 1898.
No. 42— No. 58. issued lt«98.
No. 46— Nos. 216 to 224, issued 1897.
No.

No. 611— No.

35, issued 189».

and 1899.
No. 62— No. 119. issued 1899.
East Orange, N. 3.— Votes to Incorporate as a City.— At a No. 15— Nos. 015 to 658, issued 1899.
No. 67— Nos. 291, 299 and 302. issued
189"J, this township voted,
special election held on Dec. 7,
1890
No. 16— Nos. 19 and 'al, issued 18m*'.
No. 18— No.s. 63 to 67, issued 1898 and No. 75— No. 12,' issued 1896.
by a large majority, to incorporate as a city.
1899.
No. 81— No. m. issued )8V9.
Harrison Connty, W. Ya.— Bonds Invalid,—The following No. 21— No. 61, Issued 1898.
No. 86— No. «, issued 1899.
All numbers inclusive.
dispatch from Parkersburg, W. Va., dated Dec. 5, 1899, ap- No. 23— Nos. 88 to 92, issued 1895.
:"
Lake County, Vtah.—Warrant Call.— This county
Salt
peared in the Cincinnati "Commercial Tribune
The Supreme Court yesterday affirmed the decision of called for payment. Nov. 25, 1899, all county warrants regisJudge Hagens in the case of the West Virginia & Pennsyl- tered after March 1, 1898, up to and including No. 86,800.
Shenandoah, Pa.— Bond Call—This borough has called
vania Railroad vs. the County Court of Harrison County.
This invalidates the |150,000 in bonds voted by the county for payment Jan. 1, 1900, bonds to the amount of $5,000.

December

9.

THE CHRONICLE.

1899.]

Stafford Township, Stafford Coanty, Kan.— J5o«d Call.—
H. B. Masters, Township Treasurer, has called for payment
Jan. 1, 1900, at the State Fiscal Agency in New York City,
$15,000 bonds issued in aid of the Denver Memphis
Atlantic RR. Securities are in denomination of $500.

&

Bond Proposals and Negotiations
week have been

as follows

1211

A

the American Exchange National Bank, New York City.
certified check, drawn on a national bank for 5^ of the
amount of bonds bid for, payable to the "Treasurer of the
City of Cleveland," must accompany bids. Bids must be
made on blanks furnished by the City Auditor.
Clinton, Mass. Bonds Proposed. This town has voted to

—

issue about $175,000 to $200,000

this

:

We

Allen County, Ky. Bids Rejected.—
are advised that
the bids received on Dec. 4, lb99, for the $175,000 4% refunding bonds were not satisfactory, and that the bonds have been
withdrawn from the market.
Amherst, Mass.— Bond Ojfmngr.— Proposals for the $50,000 4^ 20-year refunding bonds mentioned in last week's
Chronicle will be received until 12 m. Dec. 15, 1899, by the
Selectmen of the town. Securities are in denomination
of |1,000, dated Jan. 1, 1900. Interest will be payable semiannually.
Arlington Heights, Ohio.— Bond Sale.— Oa Dec. 1, 1899,
the $494 50 6% 1-10-year (serial) street-improvement bonds
were awarded to Feder, Holzman
Co.. Cincinnati, at
104"05. Following are the bids
Feder, Holzman & Co.. Cin
$514 50 J. E.Humphries
$506 85

&

:

bonds

to

fund

its floating in-

debtedness. Legislative authority must first be received before these bonds can be issued, and as the notes to be funded
will not become due until July 1, 1900, it will be fome time
in May or June of next year before the bonds will be ready
for sale.

—

Dayton, Ohio. Bond Sale. The city sinking funds have
taken for an investment $11,000 bonds of this city authorized to be issued on Nov. 16, 1899.
Denton (Texas) School District.- Bonds Registered.—
The State Comptroller has registered an issue of $8,500 funding bonds of this district.
Elliott, Pa.— Bond SaZe.— The sale of $20,000 4^ 30-year
bonds to Feder, Holzman & Co., Cincinnati at 105-125 is
reported.

Fall River County, S. Dak.— Bonds Authorized.— The
County Commissioners have authorized the issuance of $16,000 5}y^% 20-year refunding bonds. Securities are in denom-

ination of $1,000, dated Dec. 1, 1899. Interest will be pay& Mayer, Cincin
510 57
able semi-annually.
Asbnry Park, N. J.— Bond Sale.— On Dec. 4, 1899, the
Fanlk County, S. Dak. Bond Offering.— Ptopoasils will be
$6,000 i% 15-year fire-engine bonds were awarded to Season- received by this county until Dec. 19, 1899, for the purchase
good & Mayer, Cincinnati, at 102-949- an interest basis of of $16,000 o% 5-10-year (optional) refunding bonds. Interest
about 3'li%. Following are the bids
will be payable semi-annually.
Seasongood & Mayer, Cincin... $6,176 96 S. A. Kean.Chlcaso
Fredericksburg, Va. Bond Offering. Proposals will be
+$6,015
E. D. Shepard & Co.. N. if
d.ObO CO Asbury Park & Ocean Grove Bk. 6,000 received until Dec. 20, 1899, by the Finance Committee for
A. Robertson
6,000
tAnd blank bonds.
Securities will be
$25,000 20-year refunding gas bonds.
Securities are in denomination of $500, dated Jan. 1, 1900. dated Jan. 1. 1900. Interest is to be at not more than 4.%.
Fremont School District, Dodge County, Neb.— Bonds
Interest will be payable semi-annually at the of&ce of the
Vottd.— This district has voted in favor of issuing $39,000 10City Treasurer.
Bellerue. Pa.— Bond O^eWna.— Proposals will be received 20 year (optional) high'School bonds. Interest will be at a
until 12 M. Dec. 12, 1899, by the Finance Committee, Otto rate not exceeding 5%. The date for the sale of these bonds
Kayser, Chairman, for $40,000 4% sewer bonds. Securities has not yet been determined upon.
Grand Haven, Mich. Bonds Proposed.— Citizens of this
are free from State tax. They are in in denomination of
$500, dated Dec. 1, 1899.
Principal will mature $10,000 place are considering the advisability of issuing improveyearly on December 1 from 1925 to 1928, inclusive. A certi- ment bonds to the amount of at least $50,000.
Hngerstown, Md.— Bond Sale.- On Nov. 28, 1899, the
fied check for $500 will be required.
Beverly, Mass.— ioan Authorized.— The Council has |2,100 4% street-paving bonds were awarded to I. B. Loose at
authorized the City Treasurer to borrow $15,000 in anticipa- 104-53. Bonds mature $200 yearly on July 1 from 1902 to 1911,
inclusive, and $100 in 1912. For description of bonds see
tion of the collection of taxes.
Bloomington, 111.— Bond Sale.— Thia city has sold to local Chronicle Nov. 18, p. 1075.
Harrison, N. J.— Bond Sale.— On Dec. 5, 1899, the $300,parties an issue of $13,500 4^ 1-10-year (serial) street-paving
bonds. Securities are in denomination of $100, dated Nov. 000 4% 3''-year refunding bonds were awarded to Walter
Interest will be payable annually at the office of Stanton & Co., New York, at 104 an interest basis of about
18, 1889.
the City Treasurer. This city has also sold an issue of $20,- 3'n%%. For description of bonds see Chronicle Dec. 2,
p. 1160.
000 4^ bonds to the First National Bank of Chicago.
Buffalo, N. Y.—Bond Issue.— The Board of Aldermen has
Hartford, Conn. Bond O^eringr— Proposals will be reauthorized the City Comptroller to issue a bond for $14,350 ceived
until 3 p. M. Dec. 19, 1899, by C. C. Strong, City
for the purpose of paying awards. Bond will bear 3% interTreasurer, for $120,000 3)4,% bonds as follows
est, payable semi-annually.
It will be dated July 15, 1899
and will mature July 1, 1900. Bond will be taken by the $100,00n registered paving bonds, maturing Jan. 1. 1938.
20,000 registered additional paving bonds, maturing Jan. 1, 1030.
Park Bond Redemption Sinking Fund as an investment.
Bond Hale.— Oa Dec. 5, 1899, the following bids were reSecurities will be issued in denominations of $1,000 or
ceived for the $335,'J72 21 314% 20-year grade crossing bonds
multiples thereof, and will bear date Jan. 1, 1900. Interest
Erie Co. Sav. Bk. (for $200,000). 105 -.35
Blake Bros. & Co., New York.. ..104^99
will be payable semi-annually in gold. Bids must be made
Farson, Leach & Co., N. Y
104-567 Estabrooke & Co.,Boston
1040«
Job. E.Gavin. Buffalo
104-475 E. D. Shepard & Co.. N. Y
103706 separately for each of the above series.
A certified national
Allen. Sand & Co.. New York. .104-43
Bonds were awarded $20(^,000 to the Erie County Savings bank check for 2% of amount bid must accompany each (sepBank and the remaiuder to Farson, Leach & Co., New York, arate) proposal.
at their bids. For description of bonds see Chronicle last
The official notice of this bond offering will be found among
week, p. 1159.
the advertisements elsewhere in this Department.
Bond Issue. At a meeting of the Board of Aldermen held
on Dec. 4, 1899, the City Comptroller was authorized to issue
Houston, Texas.— Bond Offering. The Finance Commit$7,617 03 3% 1-year bonds to meet the expenses of the Board tee of this city will sell at 12 M. Dec. 14, 1899, at the office of
of Public Works. Bonds will be dated Dec. 1, 1899, and the Mayor, $300,000 5^ sewer bonds. Securities are in dewill be taken by the Redemption Bond Sinking Fund as an nomination of $1,000, dated Nov. 15, 1899. Interest will be
investment.
payable May 15 and Nov. 15 at the Union Trust Co., New
Campbell, N. Y.—Bond Sale.— The sale of $9,000 3%% b%- York City. Principal will mature Nov. 15, 1939. These
year (average) bridge bonds to the First National Bank of v>onds were authorized at the election held on Nov. 9, 1899,
Corning at par is reported.
the vote being 521 to 189. Only wrtaZ bids will be considCaiterville, a o.— Bond O^eringr.— Proposals will be re- ered. Par and a premium of at least $35,0f mu3t be offered
ceived until 10 A. M. Dec. 21, 1899, by E. J. Davidson, City for the bonds. Bidders must agree that they have informed
Clerk, for $10,500 5% bonds. Securitits are in denomination themselves as to the legality of the bonds before bidding. A
of $100, dated Jan. 1, 1900.
Interest will be payable Jan. 1
check for $0,000 certified by a Houston bank must accomand July 1 in New York City or St. Louis, at the option of pany each bid.
the purchaser. Principal will mature Jan. 1,1920. A cerJohnstown, N. Y. Bond Offering.— FroposaHs will be retified check for $500, payable to the City Treasurer, will be
ceived until 10 A. M. Dec. 12. 1899, by M. J. Stoller, City
required. Purchaser will be required to furnish the blank Chamberlain, for §S,946 44 5^ bonds. Sixteen bonds are in
bonds.
denomination of $500 and four bonds for $236 61 each. InChaffee County ( P. 0. Buena Vista), Colo.—Bond Sale.— terest will be payable annually and the principal will mature
The $43,000 b% judgment bonds voted at the recent election 82,236 61 yearly on December 12 from 1900 to 1903, inclusive.
have been sold at private sale to the First National Bank of Securities are issued under authority of Section 89, Chapter
Salida at par. Securities are in denominations of $1,000, 968, Laws of 1895, as amended by Chapter 692, Laws of 1897.
$500 and $100. Principal will mature Dec. 1, 1919, subiect
Kimball (S. Dak.) School District.— Bids Rejectedto call after Dec. 1, 1909.
Bonn Offering.— AW bids received on Nov. 21, 1899, for the
Chicopee, Mass.— Loan Authorized.— At a meeting of the $5,0C0 5-20- year refunding bonds were rejected. We are adBoard of Aldermen held Dec. 4, 1899. the City Treasurer was vised that proposals will again be received for these bonds
authorized to borrow $39,000 at b% interest, the loan to until Dec. 29, 1899, and that the board will not accept any
mature Dec. 10, 1900.
bid for bonds bearing a higher rate of interest than 5%. A
Cleveland, Ohio.— Bond O^ertngr.—Proposals will be re- description of the securities will be found in the Chronicle,
ceived until 12 M. Jan. 3, 1900, by Chas. P. Salem, City Aud- Nov. 18, p. 1075.
itor, for $500,000 4^ park bonds, maturing $250,000 Oct. 1,
Kingston, N. Y.—Note Sales.— Oa Dec. 6, 1899, $1,679 35
1933, and $250,000 Oct. 1, 1935.
Securities will be in denom- 4% sewer notes were awarded to the Kingston Savings Bank
ination of $1,000, dated Oct. 1, 1899; interest will be payable at par.
Securities are in denotni nations of $83 97 and
semi-annually, both principal and interest being payable at $251 90, all dated Dec. 6, 1899. Interest will be pavable anI

Season^ood

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THE CHRONICLE.

1212

[Vol. LXIX.

mature one bond of $42 09 field Savings Bank at par. For description of bonds see
and one bond of 126 26 yearly on May 1, Chronicle Nov. 18, 1899, p. 1076.
from 1900 to 1904, inclusive. On the same day a 4% note for
Middletown, Ohio.—fiond Offering. Further details are
$325, maturing June 6, 1900, was taken by the same bank at at hand relative to the sale of $25,000 S^i park bonds, propar.
posals for which will be received until 12 M. Dec. 12, 1899, by
Lake Charles, La.— iVb Bond Election. Owing to the fail- Frank Stevens, City Clerk.
Securities are issued under
ure to obtain the requisite number of signers to the petition, authority of Sections 2835 and 2837, Rsvised Statutes of Ohio.
the proposed election to vote on the question of issuing They are in denomination of $500, dated Dec. 1, 1899. In$100,000 water-works and light bonds will not be held, and terest will be payable semi-annually at the National Park Bank
the matter has been indefinitely postponed.
of New York City. Principal will mature Dec. 1, 1919. A
Lewiston. M.e.—Bond Sale.— Oa Dec. 7, 1899, the $51,000 certified check for $200 will be required.
A% refunding bonds were awarded to Samuel E, May & Co.,
Montrose County, Colo.—J5o7id Q^erinflf.— Proposals will
LewistOD. at 116 43— an interest basis of about 3-15^. Bonds be received until Jan.
2, 190 J, by W. A. Cassell, County
mature Jan. 1, 1930. For further description see Chronicle Clerk, for $128,300 4.% refunding bonds. These bonds were
Nov. 25, p. 1117.
authorized at the recent election.
Lorain, Ohio.—Bmd Sale.— On Nov. 29, 1899, the $15,000
Newburyport, Mass.— Bonds Proposed. The City Council
i% 20- year refunding bonds were awarded to Feder, Holz- has passed a resolution to request the
State Lsgislature
man & Co., CiDcinnati, at 104*55 an interest basis of about it convenes for authority to issue $75,000 sewer bonds. when
S-Q7%. Following are the bids
New Trier Township (Cook County, 111.) School DisFeder, Holzman & Co.. Cin... $15,682 50 New 1st Nat. B'k. Columbus. .$15,250 00
Proposals will be received until 6 p.
Seasoneood A Mayer, Cincin. 15,407 40 8. Kubn & Sons, Cincinnati... 15,225 00 trict. Bond Offering.
liamprecht Bros. Co.. Cleve. 15.379 00 Briggs, Todd & Co., Cincin.. 15.100 00 M. Dec. 15, 1899, by Merritt Starr, Secretary (P. O. WinR. Kleybolte & Co.. Cincin.
15,263 00
netka), for $60,000 4% school bonds, securities were voted
For description of bonds see Chronicle November 4, at the election held on Aug. 5, 1899. Interest will be payable annually and the principal will matare $3i),000 in ten
p. 974.
Los Angeles, Cal. Bids Not Satisfactory. We are ad- years and $30,000 in twenty years, A certified check for
vised by wire that the bids received on Dec. 4, 1899, for the one-half of one Jper cent of the Jamount of bid will be re$2,090,000 S%% 1-40 year (serial) water bonds were not satis- quired.
factory and that there will probably be no award.
New Dim, Minn.— Bond Sale.— On Dec. 5, 1899, the $20.Louisville, Ky. Temporary Loan. The city has bor- 000 4% refunding bonds were awarded to the Western Gerrowed $25,000 in anticipation of the collection of taxes. man Bank, Cincinnati, at 103*96. A full list of the bidders
These loans are made necessary, as the fiscal year of the city will be given next week.
begins September 1 and the taxes are not due until Jan. 20
New York City. Bonds Authorized. The Municipal Asof the year following. Loans are all paid by January 30 sembly has authorized the issuance of $4,000,000 bonds for
and will not exceed $250,000, and are taken by local banks at the new East River Bridge.
Norfolk, Va. Bonds Proposed.— The City Councils have
5% interest.
Manilas, Onondaga County, N. Y.—Bond Sale.— On Nov. passed a resolution directing the City Attorney to draw up a
28, 1899, the $100,U00 3}4% 18^4-year (average) refunding petition for presentation in the State Legislature requesting
bonds were awarded to the Syracuse Savings Bank at 101 "36 authority to issue $75,000 bonds for permanent improvements
an interest basis of about 3 40^. For description of bonds in Brambleton Ward.
see Chronicle Nov. 25, p, 1117.
Northampton, Mass. Temporary Loan. The $20,000 loan
Mansfield, Ohio— «ond SaZe.- On Dec. 7, 1899, the $10,000 in anticipation of the collection of taxes, mentioned in last
6^1 -year debt extension bonds were awarded to the Mans- week's Chronicle, has been taken by the Northampton Innually, and the principal will

yearly on March

1

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j^i;so,ooo

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City of Hartford, Conn.,
MUNICIPAL BONDS.
Sealed proposals will be received by the Treasurer,
at his office in the City of Hartford, until Tuesday,
the 19lh day of December, 1889. at 3 o'clock P. M.,
for the purchase of the whole or any part of the
following-described bonds to be issued January I.
19C0, amounting to 812(>,00(', with interest at 3Jc per
cent per annum, payable semi-annually; principal
and interest payable in gold coin of the United
States of the preseni standard of weiaht and fine
ness.
Ist. Paving Bonds, IIOH.OOO. Registered, payable
January 1, 19 '8, in denominations of ll.uoo each or
multiples thereof.
2d. Additional Paving Bonds, §20.000, Registered,
payable Janu,.ry l, li ao, in aenominations of §l,0oO
each or multiples thereof.
Payments to be made and bonds delivered January
1,

|

NE W LO AN.
Municipal Bonds
8320,000
BOUGHT AND SOLD.
FORT WAYNE, INDIANA,
APPRAISEMENTS MADE OR QUOTATIONS

FURNISHED FOR THE PURCHASE, SALE OR
3}i% REFUNDING BONDS.
EXCHANGE OF ABOVE SECURITIES.
PRICE AND DESCRIPTIVE CIRCULAR UPON

MSTS ON APPLICATION.

W. HARRIS &

N.

BA
,

NASSAU

13

vosal.

C. C. STRONG,
Cltu Treasurer.

ot

Commerce

35

EAST THIRD

ST.

1

Bids.)

ADAMS

COMPANY

i

i

BANKERS/

i

I

DEALERS
i

Railroad

DUE

INVESTMENT BONDS
of Boston Stook Bzohange.l

C.

JONES &

NKW

YORK, PHILADELPHIA.

JUIiir 1, 1941.

MILK STREET, BOSTON.

I

No. 7 Congrress and 31 State Streets.

1

&

The Lamprecht

Bros.

Co.,

Burr,

INVESTMENT BONDS,

MUNICIPAL
AND OTHER HIGH-GRADE

NASSAU STREET.
CHESTNUT ST.

6o State Street,

BONDS.

CO.,

421

Co.

ROLLINS & SONS,

E. H.
19

I

PRICK ON APPliKATION.

EDW.

ST.

First Mortgage 4:}4% trold Bonds,

IN

'

Members

Rutland

Perry, Coffin
5s.

NASSAU

I

]

$100,000
Co.

CO.,
NEW YORK,

CINCINNATI, OHIO,

BOSTON.
Hudson County Gas

&

BRIGGS, TODD

CO.,

:

right

^Proposals must b; endorsed on envelope: Proposals City 01 Hartford Bonds.
The above sc it» of bonds must be bid for separately.
A cei-tifiid National Bank Check for two per cent of
amount bid iiii- must accompany each (separate) pro-

APPLICATION.

NKERS,

ST. (Bank

19U0.

The
is reserved by the Treasurer to reject
any or all bids, if, in his opinion, the interest of the
city requires it.

INVESTMENTS^

INyESXMENT?:
Government and

BOSTON.

Cleveland, Ohio.

197 Superior Street.

•

EASTERN BRANCH:

New York City,
All securities

and

MASON, LEWIS

&.

-

-

.53

Broadway.

having a Cleveland market bought

sold.

BROTHERS & CO.,
CO., LAMPRECHT and Chicago Stock Exchanges.
Members New York

NEW YORK

WON-TAXABLE

BANKERS
CHICAGO,

BOSTON,

ftlonadnock BuildiuK.

MUNiriPAL
RAILROAD
CORPORATION

60 Devonshire

St.

Street Railway and Gas Companies.

ON APPLICATION.

&

16

New

BONDS.

SEND FOR CIRCULAR.

Congress Street, Boston.
13 Wall Street,

9J4%

Co.,

BANKERS-

BONDS^^^^^"

Choice Isauen.

L.I8T

Blodget, Merritt

CITY

Farson,

Leach

York.

STREET,
STATE, CITT & RAILROAD BONDS 33 NASSAU

&
-

Company
NEW

YORK.

1

I

DfiCfKMBKK

THE CHRONICLE.

9, 1899.]

stitntion for Savings at 5% interest.

Loan

will

matnre in

four months.

Norwood,

Ohio— Bond Sale.— On

Nov. 27, 1899, the $868 63
improvement bonds were awarded

6^ 1-10-year (serial) street

1213

election held on
as against 16.

Nov.

7,

1899, the vote being 204 for the issue

Salamanca (Tillage), N. Y.—Bond Sale— On Nov. 29, 1899.
$19,087 70 street-paving bonds were awarded to the Farmers'
Mechanics' Savings Bank of Lockport at 101 25 for 4%
bonds. Following are the other bids received, all for i^%

& Mayer, Cincinnati.
Ontonagon, Mich.— Bond fifaZe.— This city sold on Nov. 1,
1899, to W. J. Hayes & Sans, Cleveland, at par, the $40,000
5% 1-40-year (serial) refunding bonds, bids for which were
Bonds are dated May 1,
originally asked for last fall.

&

1899.

and December 1 at the Seaboard National Bank of
New York City. Principal will mature $1,908 77 yearly on
December 1 from 1900 to 1909, inclusive.
Salem, Ohio.— Bowd Sale.— On Nov. 30, 1899, the $1,300 5%
1-5 year (serial) sewer bonds were awarded to Srasongood &
Mayer, Cincinnati, at 101*86 an interest basis of about 4'33^.
Following are the bids:

to Seasongood

Orleans County, N. Y.— Certificate Sale.— On Nov. 28,
$20,000 3-month8 certificate of indebtedness were
awarded to the Union Bank of Medina at 3 A% interest.
Peoria. 111.— Bond Sale.— Oa Nov. 28, 1899. the First National Bank of Peoria was awarded $12,100 Q% 5-year street
bonds at 105 and $10,200 4^ 1-10-year (serial) street bonds at
1899,

100-625.

Portland, Mich.— Bonds Voted.— At the election held on
Nov. 22, 1899, the proposition to issue $20,000 water bonds
carried with only 13 votes cast against the issue. These are
the bonds sold on Oct. 20, 1899, to Devitt, Tremble & Co.,
Chicago, who subsequently refused to take the same, claiming that the proceedings leading up to the election were not

Richland County (P. 0. Mansfield), Ohio.— Bond

Offer-

—Proposals will

be received until 1 p. m. Dec. 16, 1899,
byChas. W. Fritz, County Auditor, for $2ii.000 5^ bridge
bonds. Securities are in denomination of $500, dated Dec.
16, 1899.
Interest will be payable April 1 and Oct. 1 at the
Principal will mature
office of the County Treasurer.
$2,500 each ?ix months from April 1, 1905, to Oct. 1, 1908,
inclusive. Securities are issued under authority of Sections
871 and 2824, Revised Statutes of Ohio.
Rio Blanco County (P. 0. Meeker), Col.— Bond O^enna.—
Proposals \till be received until 2 pm. Dec. 20, 1899, by E. E.
Fordbam, County Clerk, for $37,000 5% refunding bonds.
Securities are in denomination of $1,000, dated Jan. 2, 1900.
Interest will bi payable .semi-annually at the Chemical National Bank, New York City, or at the office of the County
Treasurer. Principal will mature Jan. 2, 1920, subject to
call after Jan. 2, 1910.
These bonds are issued under authority of Chapter 97, Laws of 1899, and were authorized at the
ing.

TO NET FROM ^% TO

6^.

tat Nat.

WHITE &
BANKERS,

BROADWAY, NEW YORK.

AGENTS FOR THE
A.N€H.O-A.MX:mCA.X BAJfK,

Devitt,

RAILROAD

MUNICIPAL BONDS.

121

&,

Co.,

BANKERS,
Devonshire Street,

BOSTON.
C. R.

—

&

GOODE&CO.

.=>0

1,314 00

sg|t^ SPECIALTIES.
A

i^

Bank

63

F.

WAZZ STREET, NEW TOEK.

R.FULTON & CO.,
Municipal Bonds,

Co., 171

la salle street,

CHICAGO.
$41,000,000

Building,

Circular.

FARSON.
l^ttt

UTAH MINING STOCKS.
CONWAY &

P. J.
CO. gait TftkB
**" ^^-^^
Investment Bankers,

dtv
^^t

Utah
UXan.

THE LIVING AGE,
A

Banker.

Contemporary
Uterature and Thought.

Wceklfi JUagazine of

Dearborn Hrr«*'

CHICAGO.

SPITZER &

Quotations

application.

by wire or mail.

fil

ALWAYS ON HAND.
Send for our InTOBtment

Dividends paW out on

in

Weekly Market Report on

3^ to

o
H

MANUFACTURING
COMPANY,

Co..

&

e:

THE AMERICAN

solicited.

Secarities Netting from

dnnloipal Bondi.

.

J

S

CHICAflo

•

Tremble

M.

.

COR DAG E
M

NiVER Co.

MUNICIPAL BONDS
DUKE

Co., Clove.

TRANSMISSION ROPE.

CHICAGO.

NEW YORK.

McMillan. Cleveland .$1,315

JMNyESTMJENXS.^

Bank Building, Chlcaga

First National

&

Lamprecht Bros.

|

MUNICIPAL BONDS.

IN

Stanwood

Astry

I

&

Correspondence

SECURITIES.

E. C.

Mayer. Cincin .$1,324 25
Columbus... 1,321 00

Beferenee, Ftrtt National Bank, Chicago.

Whann & Schlesinger,

BROADWAY

&

Shebojgan, Wis.— Bonds Proposed. The State Legislature has enacted a law authorizing the purchase or construction of water works by cities of the third and fourth classes,
but providing that in borrowing money to cover the purchase price or cost of construction the obligations issued
shall be a lien upon such plant and its income only and shall
not constitute a corporate liability. Under this law the Common Council of Sheboygan some time ago appointed a committee of five citizens to investigate and report upon the feasibility of the city owning its water-works system.
This
commission thought that in carrying out the scheme there
would be an advantage in constructing entirely new works,
for the rf ason that a better and more modern plant could be
procured for the money, but suggested that taking all things
into consideration the present plant of the City Water Co.
was reasonably worth $300,000 to the city. We are advised
that the city has offered this sum to the water company, but
has not as yet received any repl}'.
Steelton, Pa.— Bowd Sale.— On Nov. 29, 1899, the $30,000
i% 5-10 year (optional) and $65,000 i% 10 BO-ye^r (optional)
water -works bonds were awarded to Rudolph Kleybolte
Co., New York, at 102*49— an interest basis of about 3*65^.
Syracuse, N. Y.—Bond Sale.— On Dec. 4, 1899, the $279,000 i% 1-9-year (serial) local improvement bonds were

Nuveen

1st National

101-25

Interest will be payable

1899.

1,

1st Nat. B'k,

INVESTMENT BANKERS,

Ltd.,

Charing Cro»», Xtondon,

71

New

MUNICI PAL BONDS.

John

A. Kean, ChicaEO

I

1

Seasoneood

Bank Bid?.

CO.,

S.

|

—

&0

CORRESPONDENCE SOLICITED.

and

June

MUNICIPAL BONDS,

BONDS

MUNICIPAL

101-F6
84

MacDonald

CORPORATION

DEALERS

Sons, Cleve

New York
101
Securities are dated Dec.

trowbridge,

RAILROAD AND

71

W.J. Hayes*

INVESTMENTS.

INVESTMENTS.
MUNICIPAL,

C. H.

bonds
Geo. M. Hahn,

CO..

[Established 1871.1

(FOUNDED BY

E.

LITTEIiL IN

1814.)

Reproduces without abridgment the most important

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HIOH-GRADE IVARRANTS
Netting;

from 4 to

Dealers in High-Grade

§^.

A RE.nARKABLE OFFER.
NEW SUBSCRIBERS to THE LIVING AGE may
receive with
THE REVIEW OF REVIEWS or
PUBLIC OPINION foronlv »6
a year; or for
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it

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Investment Securities,

MAGAZINE,

or any other $3 00 periodical published
the United States.
This offer is good only to absolutely
SUBSCRIBERS to the LIVING AGE.
T^PTTT To all for 1900. remitting THE LIVING
i xijXju xGVi New Subscribers to before Jan. 1,
the numbers of 1899 issued after receipt of their
subscription will be sent FREE.
in

Making a

IN

Specialty of

SOUTHERN AND WESTERN Western Municipal Bonds.
SECURITIES.
ROSENBERttER & LIVERMORE,
(Specialists in Texas Investments),
FORTY WAI^L. STREET, NEW^ YORK

j;-

20

NASSAU STREET, NEW YORK.

Spitzer Building, Toledo, Ohio.

NEW

THE LIVING AGE
P. O.

BOX

520«.

CO..

BOSTON.

THE CHRONICLE.

1214
&

awarded to Blodget, Merritt
interest basis of about 3'25J^$?.

Co., Boston, at 103 •414— an
Following are the bids:
102-405
W.J. Hayes & Sons. Cleve
E. D. Shepard & Co., New York. H 2-337
102-301
Denison, Prior & Co.. Cleve

[Vol. LXIX.

K.—Bond

Whitefield, N.

Sale.-E. H. Rollins

& Sons, Bos-

ton, are the purchasers of $60,000 3}4% refunding water
bearing date July 1, 1899.

bonds
& Co., Boston. .103-4U
Par8on.Leach*Co..NewYork.. lOS-07
Allen, Saud & Co., New York... 102-9.3
100-90
102-599 S. A. Kean, Chicago
R. L. Day & Co., New York
For description of bonds see Chronicle Dec. 2, p. 1163.
Temporary Loan. This city has negotiated a loan of
Adams County, Wash.- Or. A. Kennedy, Auditor. County
$150,000 with Dunscomb & Jennison, New York. Loan ma- seat is Ritzville.
tures in six months.
Whenjyue. Floating debt July 1, '99
LOANS—
$350
Tekama, ^eb.— Bonds Defeated. —At the recent election
CocTRT House Bonds— 1892.
Total debt July 1, 1899.
20,350
the proposition to issue |13,000 4% bonds in aid of the Omaha 6s,
,$20,000.... Mar. 1,1912 Cash in treasury
6,027
Subject to call 1902.
Net debt July 1, 1899
14,323
& Sioux City Railroad was voted down.
Tax valuation, real
$1,419,599 State & Co.
the $9,000 Q% Tax valuation, personal. 638,076 Population tax (p.$l,000)'99. 11-00
Toccoa, Qa,.—Bond Sale.— On Dec. 1.
in 1892 was
2,185
gold school bonds were awarded to W. J. E. Laidler, Hawk- Tax valuation, railroads. 362,745 Population in 1890 was
2,098
Total valuation 1899
2,420,420 Population in 1899 (est.)
5-44^.
Folinsville, at 106*178— an interest basis of about
5.000
lowing are the bids:
Albert Lea, Minn.— T. W. Wilson, Mayor. Albert Lea is
9,225 00
W.J. E. Laidler, Hawkin8v'le.$9,656 00 S. A. Kean, Chicago
situated in Freeborn County. The debt as below given in9,000 00
Seasongood & Mayer, Cincin 9.520 74 Denison, Prior & Co.. Cleve.
9,000 00
F. M. Stafford &Co.,Chatta'ga. 9,477 00 Robert Ober, Baltiaiore
cludes the debt of the township and the school districts.
9,450 00
De Van & Co., New York
Blodget, Merrltt

I

I

1

STATE AND CITY DEBT CHANGES.

1t

—

.

.

. . .

I

.

.

.

I

|

Assessment is ^ actual value.
Total tax (per M.) '99
$35-40
Population in 1899 was
5,000
Population in 1890 was
3,305

Bonded debt Oct. 1, 1899. $95,000
Bonds mature $3,000 in the years 1911, 1916 and 1921.
Total debt Oct. 1 1899.
99,000
Vine Grove, Hardin County, Kj.— Bonds Defeated.— At Tax valuation, real
755,928
. .

,

an election held recently a proposition to issue |4,000 water-

works bonds was submitted to a vote of the people and defeated.

—

Wellington, Kan.— Bond Election. An election will be
held on Dec. 30, 1899, to vote on the question of issuing $50,000 water- works bonds and $14,000 electric -light plant bonds.
Wells County, Ini.— Bond Sale.— Oa Dec. 5, 1899, the
$35,000 4:% funding bonds were awarded to Hagh Dougherty,
Bluff ton, at 100*86. Bonds will mature $5,000 in two years

For further dethree, four and five years.
scription of bonds see Chronicle Oct. 21, p. 870.
Bonds Proposed. This county proposes to isfcue bonds to
the amount of $30,000 for new gravel roads.
West Hoboken, N. 3 .—Bond Sale.- On Dec, 6, 1899, the
$75,000 4^ street-improvement bonds were awarded to
Thompson, Tenney
Crawford, New York, at 101-679— an
interest basis of about 3-80%.
Following are the bids
Thompson, Tenney & Crawford. 101-679 B. D. Shepard & Co., New York. 100-327
100- 105
John D. Everitt & Co., N. Y
iOV2-i6 SDitzer& Co., New York
Hudson Trust & Savings lust. .100-00
N. W.Harris & Co., New York.. 101-27
Bonds mature Jan. 1, 1910. For further description of
bonds see Chronicle Nov. 25. p 1119.
and $10,000 in

—

&

Tax

valuation, personal.. 318,620
Total valuation 1899
1,076,548

Clallam County, Wash.— Thomas T. Aldwell, Auditor.
County seat is Port Angeles.

LOANS—

JTMnDue. Cash on hand

Funding Bonds-

Tax

Dec. 31, $14,000.. Dec. 31, 1912

78,

$13,740
307,418

Netdebt July 1,1899....
valuation, real

2,114,533

Road Bonds—
Tax valuation, personal. 190,905
68,M&N 15, $90,000g.Mayl5,1911 Total valuation 1899
2,305,433
6s, J&D,
lO.OOOg.June 1, 1912 Assessment abt. 45% actual value.
Subject to call 1901 and 1902.
State & CO. tax (per 1,000)'99.30-10

Bonded debt July
Floating debt
Total debt

Population in 1890 was
Population in 1880 was
Population in 1898 (est)

1, '99.. $114,000

207,158
321,158

2,771

638
7,000

TAX FREE.— All bonds are exempt from taxation.
Columbus, Neb.—

Wm

Columbus

Becker, Clerk.

is

in

Platte County.

LOANS—

:

Bridge Bonds—

May

1, $8,000
Dec. 1, 30,000

6s,
68,

When Due.

May
Deo.

Refunding Bonds—
4.^s, M&S. $37,500...Mch.
Subject to call after Moh.

Total debt Oct. 20, 1899... $75,500
Tax valuation 1899
373,423
1909 Assessment about ig actual value.
1917 Total tax (per $1,000)
$5300
Population 1890 was
3,134
1919 Population in 1899 (est.) .. 4,200
1909

1,
1,
1,
1,

MISCELLANEOUS.

MISCELLANEOUS.

BANKS^

The Audit Company

THE

Canal Bank,
NEW ORIiEAlVS, I.A.

OF NEW YORK,
Vice-President,
WILLIAM A. NASH,
Chief Consulting Auditor

AUGUST BELMONT.
Manager,
L.

leading

Railroads,

So do the

Banks,

STEPHEN LITTLE.

GREENE,

Consulting Engineers,

WM. BARCLAY PARSONS
P. S. PEARSON
FORD, BACON & DAVIS.
Secretary and Treasurer,

EDWARD

T. FERINE.
DIKFCTORS:

A.

Frederic P. Oloott,

James StUlman,
William A. Nash,
Joseph S. Auerbach,
>5eorge Q. Haven,
George

J. Cassatt,

John

I.

liOuis Fitzgerald,

Linen Ledgers in your

office

write us for

AND

recommended

oculists.

We

for the eyes

will send

by

you

DuANE

150

St.,

The United

States Life

All Follclea now Issued by this Company
•ontain the follo^ring clauses
*'After one year from the date of Issue, th*
liability of the Company under this policy
hall not be disputed."
During 1898 the Company made material
Increase In Income, assets and surplusi and
can thus claim a substantial train in the
moat Important elements of safety and prog-

WITHOUT

Active and Successful Agents, wishing to repretent this Company, may communicate with
BIOHARDE. 000HBAN,3d Vice-President,
at the Home Office, abi Broculway, New York.

aEORGE

H.

BURFORD

G. WILLIAMS
FRALBIGH
RICHARD K. COCHRAN

C. P.

GENUINE
A.WHKKLWRIGUT
WELDED CHROME STEEL AND IRON J. L. KKNWAV8TANDKN
&c.

Burglar Proof.

STEEL.

T.
C.

AJRTHUR PBRRY
JOHNP.MUNN

Aocnary
Ca«hler
Medical Director

FtNANOK COUHITTKK
PreB. Chem. Nat. Bank
OBO. Q.WILLIAMS

JOHN J. TUCKER
B. H. PBRKINS, JB.
BROOKL.YN, N.Y JAMBS R. PLUM

Kent Ave. Keap and Hooper
'Sole Man'f'ers tn the U. S.

WILLIAM

President
Vice-President
Vice-President
8d Vice-President
Secretary
Assistant oecretarj
2<J

:

WORKS,
Sts.,

Joseph T. Talbert, Cashier.

Wm.

McKeon.

J.

Chalmers, N. K. Fair-

James H. Eckels, John

C.

FIRST NATIONAL BANK
OF MILWAUKEE.
Business.

81,000,000
$950,000

.Builder
.

.Pres. Imp.

& Traders' Nat. B'k
Leatter

Collections receive Special Attention.

OFFICERS
BiGELOW, Pres't.
Wm. Bigklow, V.-Prest.
F. G.

F. E.

F. J. Hipp, Cashier.
T. E. Camp, Ass't Cashier.
Ass't Cashier.

Kruegeb, 2d

San Francisco.

THE CITY OF NEW YORK.

OEa

and positively

;

DniECTGRS.— Franklin MacVeagh, Norman Williams, Jesse Spalding,
bank, Robert T. Lincoln,

Insurance Co.
IN

orrioBBS:

drilled,

dent

Transacts a General Banking and Foreign Exchange

DI8.
All Death Claims paid
soon as satisfactory proofs havo
been received.

and 6-ply Plates and Angles

;

Commercial National Bank,
CHICAOO.

1899

COUNT as

Plat Bars

Boatmen's Bank, St.
Merchants

CAPITAL,

185U.

ress.

FOR SAFES, VAULTS,

;

New Yobk SURPLUS,

Jr.,

The Audit Compaijy examines and reports on the
accounts and financial condition of corporations,

Cannot be Sawed, Cut, or

Commerce, New York

;

I

HOLYOKE. MA5S..

SECURE BANK VAULTS.

of

Louis N. W. National Bank, Chicago
National Bank, Boston.

For account books they are Capital, $1,000,000 Surplus. $1,000,000
Officers.— James H.
unequaled.
They are made in tinte McKeon, Vice-President;Eckels, President; John C.
D. Vernon, 2d Vice-Presisamples.

Waterbury,

eopartnerships, and individuals, and examines and
reports upon the physical condition of railroad, mansfactnrlng and other properties.
Its services are of value to investors, financial inftltutlons, borrowers of money, directors of corporations, merchants, firms, and purchasers of properties

President.

EDWARD TOBY, Vice-President.
EDGAR NOTT, Cashier.
Correspondents — National City Bank, National

you are not using Whiting's

WHITINQ PAPER COMPANY

W. Young.
T. Jefferson Coolidge,
Charles S. Fairchild.
Gustav. E. Kissel,
Isaac N. Seligman.
E. R. Chapman.

Henry W. Poor,

If

a pamphlet on the subject free.

ADVISORY COMMITTEE OP STOCKHOLDERS.
VV. Bayard Cutting
Walter G. Oakman,
A. D. J ullliard,

where.

eminent

Marcellus Hartley,
Charles R. Flint,
George Coppell
G. B. M. Harvey,

CHROME

MORRIS,

J. C.

Instiranoe

Companies and Mercantile Houses every-

especially

August Belmont,

Bound and

CAPITAL, $1,000,000.

Bank

Acting President,

THOMAS

Whiting Papers.

& Banking Co.)

(Successor of N. O. Canal

Groverament

States

uses the

Broadway

120

Equitable Building,

United

The

First

National Bank

OF SAN FRANCISCO,

CAL,.
UNITED STATES DEPOSITARY.

Capital, $1,500,000
Surplus, $1,000,000
G. MtTRPBY, President. Jas. K. Lynch, Cashier.
James Mopfitt, V.-Pres. J. K. Moffitt, Asst.Cash.
General Banking Business. Accounts SolicUed.
Commercial and Travelers' Credits issued, availaI

S.

ble in all parts of the world.

The London City

&

Midland Bank, Limited,
5

Tlireadneedle Street, LoDdon,

England.
ESTABLISHED 1836.

1-AID-UP CAPITAL
RESERVE FUND

£^,'202,400
4:t2,'.J0'^400

CnRONICLE VOLUMES FOR SALE.
1866 TO I>ATE.
IVILLIAin B. DANA COMPANY,
PINE, ST.. CORNER PEARL ST., NT.