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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 ^'^ ; •Ita at'.! 9 9 "r w t <I<1 I i to I (R COO P O 5 Ds 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 I ?^ Oi; c;i-ji oeoi I I 0*3 fH (B — 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. "J^i tcoj e^05 "j-vi @ <j<i COS CJ>.-I eot.1 -J -J H •J 05 ©O s cJicJ" to to I d »j<i O>03 MCO s i <i^ ^ I " " " " " " " " " " " " " Ohio Texas B »a^ " 8. " i I " " •' Alabama. Missouri Qeorqia... Mississippi. LonisiANA Tennessee.. Arkansas.. Kentuckt. N.Carolina Carolina OK> (10 OD . 05 05 CO to 05 en €> I @ -J -J @ CO oc ?1 CO C50 ~]<1 e^ cncji 00^ <IM Ml-" ' s 1 S 03 <J «03 CO© 1 9 1 to to wo <IO ® . CJicJ> CJicJ" OiO ucco cJiOi <1<J S 1 to to oo wot oo <I-J <1<1 <l»l o-a -5<1 «ieji t3 05 cno" 1-05 VVt to to V* s I 05 CO to I I I Oi^ @ I © <!<> lUcn o«j tC)f- 0C.&. coco I p-O @ I @ <1<I <J-1 <1<I if'*' if-lfr- lf^l(>- 1^05 (f-*» coc;> MM COO 05 to CO d d at CJ-rfi coc» MOO <I<1 VVt lt>-VI o w O© to 05 to o i-i coco @ ® <I<1 05 to <1<J Oicn 0<1 yioi tOM <1<I OO COCO 00 CO ^ I V i 1 1 <1-1 coco 1^© .a. @ C50 <1<1 cJid" to to lb. lUCO to<i <1<1 C^-tn OO a03 coco MO MM MM O'lt- coco 0105 CO be CO COhO ^ I^Cr CO M © CO M CO 00 M CO CO If>-|^ It'Ol to If' MOD i2 "? M M © CO 00 05 I © I M © CO Mit' if'M M (O o toco 03 05 05 05 CO ife •>© U''"*' 't.'-^ M com*. CO to 0> 'b0MMbi|f'*M CJI mod Vco"ti-"to to "o to 00 'to'tc''to"©"'c;'""o'o''co"M*x'c ao to to«» p r Ol M ^MMOO COMMtONM M ^ WWM^'-WtOtO*' •C*MC0"tO*C0to'MM'33''i-'"M"t0 M 03M 03 MM to 00 to CO COM VM s a. ' 8 coco "tolo M to CO MA o tiCCtOtecOCUifc ^ M i^ wC fOMMM 2 ;: <^ 1. C0it'CCCOCnt0O*'03©M oc tOi.O^COJOtOtOM©|f.MMCOMOMC030DtOXMCHOOaaOOCOtOOtO 00 >-•>-• to «< M to M toM <icoci:jOM wcoco com _oco5m mcowc" to M «i to M co"** M ai"M cD*to M*to'**x oi "a m to a'to m mo e: c m *''io c^ ^•^toyiw CO t« if' M OWtOWXMXO'tf'M totoo3^0DM©aaMMMi^ tDOOCIlOtOOMCn05^05C;'MCO<t»'CCcr. to— MOM®toif».MCcif'WM05»coocntoa. 05 M M CD C5 Mi^os'coMoo'i CCCOCOCOMOI p a- M M CO WM M MCCIO omVIs wloM» A mVw© MOO to "1010010 w M <)MM . 60 IC' 00 MU'OltOOS 05^3U' CO ^ C;" O: 00 Cn M tO ^ tO CC y OC CO tO CO CO lolo"co*MV4oaicnTocncotOMtou'b'cnM"to®c>>oMto'Uk>tolscow yi05'-OMCC05MtOtOCO|f'Mlt>0; Mt^CO^03tOlf•tO•-0••-aCM|f05l(»• CO to 00 M O « M |(^ «05MMMOi-OOMM... a. 5 to O'aMMMCOM^CtCilfWCntOCB M 05 M ' to M 05 tooM<itowMc/'r-oowi^wo5Mc;<toaw>M©cocoif'tci(^t:oom-vico cn Wjf 05 W<^ toco toco QOucrfk»J COM to*' Mi" M MMCOtOtOCOlfkCO COM tooc or CO M tC COUl Mb*kCob'c»MMOoo'bD« jioo'mVo wl^oib'toOMMa tcostoif coooa M*^C3Oui0033O — ifa'Otocr. tjco3;oiit>.M«iccc<;Macoiaoo M If. a M a tOOie-MtOwnf^OO- ^tOMtOtOOSMCOCi'MtO-llC.OK'^tCCOMMlf' 1 OmtOtOtOOWODMl M 05 05 00 tOCnMr-tO— MtO CtOCOtOlOCO ©• 03MC"b to 03 M M V— 03 tCOM tO CO O MoV — b MM VOS CO M*M t * M OOtO s If- I&. CJi«.COQ00303tOtO^(-'Me5tOCCCO*'lOOOacCO'-05i«'t005tOlf"-00© rf^COOtOM«<MCO — tOXOO MMti tOlf'MCnOOtOO:«00©tOlf Mif'atO en 05 CO to coco ^ M M M M M M — — W y If to CO O COOOCOOrM*'t005COCWMM 1. 1 S r- O — « to 00 1^ « U" M CO tC p^C CO Oy M^ -• t» M Mg 5 a ef 05 CO MMO p 00 oob® en (-• to to M ft <s ooytoincjioiiUitkTrtotocoxosOMtO'-tococotOif-H-oDcoacoMtooo lfk,-^©05-J<0>aoacO.J'05©00©COCOO'ODOCC«>tOl-i03M&;0;03C003 ~3<l MM MM MM MM MM lUt: CO 1^^0505 CO *» *> to © ^ e i(k s M QOO to 00 MOCiktOMj^hOMOS to a M Qd'o Oo'tc'H'%'*:j'M'b'tO ao"tO m OS MW Co"*- C M 00 XUl 00 Tj tsto <|<1 it^ic rf^"tO 05 MMOteOCOtONtOOO 00 aMif.lf^OOOOWCOMMCOCni&.tOtOaQOtOtOC/'lf'Olf'OtOCXCTilf'CO @ <J<I coco OiOD 00 M to TO tOMOCniftOW<QOODtOC;iW©QCtOC005t003i-Olf'>-03C:3lf'M*k»3C;i03 to 00 @ OvJ wot >-© tC "ik 1 <I<1 ©05 It' 05 «• CO to *^ <JO coco I HOD Ift 1^- ^ ©o to' O. if'lt'' C^lfi' 05 05 to I h-CO I <1<1 I <I^ <J<1 ciiib. toai @ tooc ' OQO K»it' CO to I to© <1<I 05 0: CO to 00 <l I O coco to 05 0505 to COCO 03 05 05 1 M tSQD_*^M CO CO 00 1 rfico @ COCO ojl tots MO O o to ' <Jvl IP-IU 1 <i»a <I<1 00 00 05 05 to to 00 *-cJ> <I05 ODCO ^to t9 OS to *> en QO CJi i«l © I cjicn ©to CO 1 <IO aif'- I cjicn «, CJiOt •J to ©CO I . CJICJ> 1© <1-J dich ViV; 00 CO oc « t» M>-; tOQOit'003Mlf'0;00»Ulit'03C;>tOOCt COOOWOl ^ to CO 05©050ooto tOif'i coc;<C/-icncoxtoo5XOio:u<MtocoxM#'to:oco M to CO 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 l-»M *^» » H— : p: § * I s s 9 a » a a Si o p . o a . • B: ! I • • • 05 00 COCO MOOOVCO COll^ i»^ to »M -40^^ov cotoOoco toco on Oit^tOP'CO OCO M-1 OJM com paajoeo com 05O 'WWW <1 CD 01 to -J 00'- — OA aM Off 00 CO oxtoc;<ao >Oi(. CO -J Otto 05-) ao<j to to pp OOOt o<»bwo (-.(-•-oiO CC 1^ M O ^ ccl-'l-'^o^^ 000 Ol»l. I 05O 000 OODOSCOOi ostoococn f COlFk 1 (p.-tooow ODJCCCKip "•OO'-'OIO tOMOl-JCO : : : t S, if>. *. <J CO M 05CXOC0C0 QCCOp>— CO CO C> -1 -1 Om AOOCC m i^CO CO 05COCO"m1o M W -1 M CO if^ to -.0 ex CO 00 <> o*.- CT:mC0MO5 coco 'mo'o'o'V' OtaO05-a l^tOO .3 00 MCOtO M O M j» MtOWWtO jO OQD -J*»O0MM MMto'<Bb5 MOs'fC bowVioo'w 00 C« CO 10 -J Qi^ OCO J^ cccocooMae yP 05 *^ it' tn'os'oc;''''^ MifkC5-30I ' CXXQOOOO MCOMM *fl OlCOMCOM coi^coiccn OCO 05 eo -4 OO-COi*. eocj'itkooco COOWCOKI t0#.-3Oi*^ 3*. CO C0t0C0i«-C}5 «- » -^ to -J -J CO CO KJtOWCOCO MO 05 CO<lC35aco> Mif^-tnCDOS 05 01 to OCOOcOM M MM CO 00 OOmmo'-J CflOStOMlfc. 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' cots 00 • «::::> ;;;••© • ' : : g: <. «0 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 I — ; — : : I | I 1 — — 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 — — — — : — I | . . . . i I — — — — — j^i;so,ooo i 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 Contributions CRITICISM. in FICTION, TIONAL POLITICS, Koreien TRAVEL, Periodicals— INTERNA- .SCIENCE. Indispensable to intelligent Readers. Weekly, $0 00 a year single numbers 15 cents. ; BANKERS, 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 25 HARPER'S MONTHLY or SCRIBNER'S it 7.') 15 WALL STREET NEW YORK. WE DEAL 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.