Full text of Commercial and Financial Chronicle : February 14, 1903, Vol. 76, No. 1964

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Quotation -Supplement ( nmi,)
Investors Supplement (owenv
)
Entered according to Act of Congress, in the year 1903, by W

VOL. 76.

Street KailwmpSupplement r kws$
sm
State and City Supplement

il l ia m

B. D anta C o m p a n y , in the office of Librarian of Congress, Washington, D. C.

SATURDAY, FEBRUARY 14, 1903.
■■

-

Week ending February 7

dhrmticlc.

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Pine Street, Corner oi Pearl Street,
Post Office Box 9,38.
NEW

YORK.

CLEARING HOUSE RETURNS.
The follow ing table, made up by telegraph, otc., indicates
that the total bank clearings of all the clearing houses o f the
United States for the week ending to-day, Feb. 14, have
been $2,031,776,701, against $2,416,704,428 last week and
$2,023,878,234 the corresponding week last year.
Clearings—R eturns by Telegraph.
W eek Ending Feb. 14.

1903.

1902.

P. Cent.

New Y ork ...................................................
B oston .........................................................
P h ila d e lp h ia .............................................
B a ltim o r e ..................................................
C h ica g o................................................ ......
St. L o u is.....................................................
New O rlea n s.............................................

$970,508,615
107,427,810
75,482,030
17.803,570
119.113.120
42,390,277
13.024,088

$990,202,002
105,819.322
73.809.689
17,314.987
125,513.948
42,514,405
11.014.689

—2*0
+15
+2*2
+2*8
—5*1
-0 3
+237

Seven cities, 5 d a y s..........................
O ther cities, 5 da ys.................................

$1,352,350,110
285,408,964

$1,377,249,162
240,007.019

-1 * 8
+18*9

T ota l all cities, 5 d a y s.....................

All cities, 1 d a y ........................................

$1,637,759,080
394,017,021

$1,617,250,781
400,021.453

+U 3
-—
3*1

T ota l all cities fo r w eek .................

$2,031,776,701

$2,023,878,234

4-0*4

The full details for the week covered by the above will be
given next Saturday. W e cannot furnish them to-day, clear
ings being made up by the clearing houses at noon on Satur
da y , and hence in the above the last day o f the week has to
be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur
day noon, Feb. 7, and the results for the corresponding
week in 1902, 1901 and 1900 are also given. Contrasted with
the week of 1902 the total for the whole country shows a gain
of 7*1 per cent. Outside o f N ew York the increase over 1902
is 7*9 per eert
W eek ending February 7.

Clearings at—

NO. 1964.

------------------------ -----------------

1903.

1902.

$

$

New York . . . .
1,550,547,372 1,454,044,018
P h ila delph ia. ........
120,317.197 100.050,904
Pittsburg....... . . . . . . . .
40,531,411
37,312,028
B a ltim ore. . . . . . . . . . . .
24,081.880
22,812,874
B u ffa lo .......... . . . . . . . .
0,000.227
5,414,882
"V a sh in gton .. ..... .
V
4,450,230
3.912,770
A lbany............ . . . . . .
4,243.005
3,347,094
B och ester___
3,412,950
2,893,802
Syracuse ....... . . . . .
1,458,348
1,452,070
S cra n ton ....... .........
1,597,779
1,457,384
W ilraington..
1,305,924
1,235,328
Bingham ton . . . . . . . . .
423,900
808,000
C hester.......... . . . . . .
308,181
304,801
G reensburg.,. . . . . . .
445,401
881.209
W h eed u g ......
799,190
688,144
JVl lies Barre. ..........
1,214.501
935.708
2,539.345 Not include
..............
E n e ............
525,207 Not include
1 otal M iddle............ 1,772,203,022 1,042,490,732

I nc. or
Dec.

1901.

1900.

$
$
%
+0-6 1.030.997,950 l,100,832.070
88,780.101
94,838.559
38.594,590
29.485.597
+5-0
19.940.584
19,790.993
4.858,070
-10-9
5,231.193
3,133.002
2,600,310
-13*8
3,112,012
2,901.104
-26-S
2,102.738
-179
2,205,729
-4-0-4
1.258,707
1,251,021
--9 0
891,790
1,018,924
--5*7
829,080
1,025,137
429.000
5? *4
393,001)
-20*8
245.081
253,079
300.000
-38*7
312,348

-19*1
-+
-24
H 7

-101

- -29*8
d u to tal.
d in t«» tol.
4-7*9 1,802,104,545 1,201,641,876

1903.

1902.

Inc. or
Dec.

1901.

i960.

B o s t o n ........................
P r o v id e n c e .................
H a r t fo r d .......................
New H a v e n ..................
S p rin g field ............ ......
W orcester ...................
P ortla n d ........................
Fall R iv e r .....................
L o w e ll....... ....................
New B ed ford ...............
H o ly o k e ........................
T ota l N ew E ngland

$
144,528,633
7,220,900
2,804,417
1,954,141
1,410,600
1,795,626
1,553,809
1,019.315
443.916
531.335
403,782
163,672.534

3
%
154.480,629
—6*4
0,652,500
4-8*0
2,754,052
+ 1*8
1,730,004 -}-12*9
1,540 210
—8 4
+2*8
1,746,720
1,376,308 +12*9
1,290,532
-21 0
619,798
-28*4
124,912
+1*2
387,140-*-4’3
173,103,411
—54

$
128,129,251
6,400.900
2.393.510
1,057,770
1,391.613
1,443.370
1,054.831
S10.2S8
552,094
438,795
349.792
144.087.220

9
127,208,331
0,375.900
2,557,220
1,391,436
1.493,845
1.390.180
970,744
1.028.475
498,517
409.867
326.457
143.393.021

C h icag o........................
C in cin n a ti.....................
D e t r o it ..........................
C le v e la n d .....................
M ilw aukee ................
C olum bu s......................
Indiav'apolis.................
P e o r ia ............................
T o le d o ..................... . ..
G rand R a p id s..............
D a y t o n ..........................
L v a n s v i/le ...................
Y o u n g s to w n ..............
Springfield. I l l ............
L e x in g t o n ...................
A k ron .............................
K a la m a zo o ...................
R o c k fo r d ......................
Springfield, O...............
C anton ...........................
J a c k s o n v ille ..............
Q ien cv ..........................
B lo o m in g t o n ..............
Jackson. .
A n n A r b o r .................
M a n s fie ld .....................
D ecatur..........................
T ota l Mid. W estern

103,251,211
23,539,050
10,200,814
17.131,877
7.27 4 585
4,854,700
5.409,501
2.900,440
3.108.154
1,024.631
1.502,937
1,060.270
609.085
651,081
057.491
740.900
585,478
‘346,752
425.459
477.722
218.534
425.839
333.983
198,000
133.125
219,570
237.230
248.233.214

151,808,567
29,090.250
14.834.215
12,594,082
7,459.166
3.410.000
4.524,996
3,499.937
2,793.915
1.043,679
1,271,719
870.457
038,479
621,454
501,710
562 000
438.232
313,115
414.903
:$46,5.,0
190.889
367.222
303,518
153.137
105.628
250.003
210,697
240,285.100

San F r a n c is c o ...........
Salt Lake City..............
P ortla n d ........................
L os A n g eles................
S ea ttle...........................
S p o k a n e ........................
'IW om n ....... , .............
H e le n a ..........................
F argo............. ................
S iou x F alls............ ......
T ota l P a c if ic ..........

30,107,213
2,525,474
3,200,048
5,438.311
3,615,910
1.790.184
1,558,240
407.231
008,3 L
G
228,748
49,930,270

22,090,892
3,119,97 1
2,345.161
8,892, i ...
2.607.932
1. 130 !0< •
1,307.92?
594.0o3
452.200
245.425
38,092 464

+7*5
+17*2
-30*8
+36*0
—2*5
+42*4
4-19*6
-171
4-13*4
-1*2
4-18*2
4-20-7
—4*5
4-4*9
+17-1
4-31*8
4-33*6
+ 10*7
4-2*5
4-37‘j
4-14*5
4-16*0
4-10 0
+ -L4-20 0
-r-12-4
4-9*5
+•3*3

125 792,250
19,487,500
8.722.229
12,944.595
6,900.526
3,100,000
3,747.001
2,105,743
2.115,026
1.323.731
1,172.395
763,093
433,689
541,895
553 •'
>
550,700
312,874
261,571
306,100
293.960
372.204
316.071
200.933
138.955
90,241
7U.UOI*

130.317.S12
10,031,200
7,253,402
10,095,533
5,709,708
2.882,800
3,100,472
2,278.019
2,068.445
1,103.929
1.002,561
1.044.810
304,751
385.442
440 830
435,000
405.400
267,752
340.467
233.958
128 560
280.000
186,949

192.549,445

186,118 429

+36*3
-19*0
+39 0
4-39*7
4-«i8*7
-t-25* 1
+443
-21*4
-4-34 "5
—6*8
4-31*1

18,344,730
3,101.419
1,921.180
2.628.034
1,973,098
1.004,032
1.412.373
820.220
309,407
153.914
31,735.025

16.879,750
1,804,236
1.8/5.7->4
2,022.1 04
1,931.142
985.180
939.032
467.539
384,407
155.275
27,441,999

..........

00.000

13,100.751
14.0S9.240
17,263.980 + 1 5 3
19,901,544
K ansas C ity .................
9,399,534
9.346.374
11.891,199
4-9-0
13.028.027
M in n e a p o lis ...............
5,629.348
5,803,564
6,414.003
7.000,000
+9 1
O m aha............................
3.980.093
5.3: .7,809
4,548.727
4-07
5,375.380
St. Paul............ .............
4,710,080
4.236.498
4.000,000
4 169,020
—4*1
D e n v e r ..................... ..
3,923.357
3,657.017
4.700.610
—2*5
4.583,908
St. J osep h ......................
1,353,655
1.249 05.»
1.712 150 +24*8
2.150,404
Des M oines............... ..
600,000
1,173,710
1.728.704
1,104,432
-320
D a v e n p o r t............ ......
977,719
1.457,128
1,120,355
1,427,058
4-2*1
S ioux C ity ....................
1,085.387
6ii5,704
1.419.774
1.335.042
—5 9
T o p e k a ..........................
507.793
495.672
749,247
765,412
4-2-2
W ich ita................... ....
102,590
175.180
202.026 +64*9
239,423
F r e m o n t ......... ...........
1,134.703
011.999
1.000,000 —3 8 8
C olorado Springs........
48.578.811
44 553,971
58.017.512
61,599.419
4 -6 2
T ota l oth e r W e s t’rn
4S.341.102
38,098.282
31,782,698
-0 8
47.953.942
St. L ou is........................
13.051.159
13.195.882 4~l7"5
12J 86,860
15,500,000
New O rle a n s...............
10,168,093
12,776,979
10,069.789 4-26*9
9.288,831
1 ou isv ille ....................
3,852,500
3,938.500
4,135,500 4-34*0
5.508,500
G a lv e s to n .....................
3,991.431
4.102,500
5.800.000 H
-26*1
7.314.058
H ou ston ......................
5,642.840
4.963,553
4,255.710
3,112,585 H
-36*7
Savannah......................
3.750,000
3,710.39:
4.401,103
4-0*5
4,421,226
R ich m ou d......................
3,150.619
3,515.523
2,809,279 H
4.731,309
-64*9
M e m p h is......................
2,188,05a
2,468.872
2.718,035 4 -23 9
3,368,580
A tla n ta ........................
1,565.868
1.768.773
1,971,801 H
-30*5
2.573.932
N a sh ville......................
1.717.090
1,353.225
1,300,260 -+-20*1
1.569,751
N o r fo lk ..........................
1,474,288
1,558.539
1,119 100 4-163*2
2.940,039
A u g u s ta ........................
541.494
660.204
720.992 + 4 2 4
1,020,666
K n o x v ille .....................
803,138
1,336.500
1.255.909
-4" 9
1,845.467
Fort W o r th ...................
900.000
1,050,000
914,827
1,469,240
-60*7
B irm in g h a m ................
846.000
980,000
770,000
-204
934.000
M acon.............................
485.215
565.073
1,098,48.3
796,428
-37 9
L ittle R ock ...................
447.384
501.411
432,017
-33*4
642,906
C h a tta n o o g a ................
30UO00
450.748
297,263
445.705
+1M
J a c k s o n v ille ................
Be turnout
400,000 4-52*9
611,753
1.398,494 Not in clude d ’ D to f al
C h a rle s to n ...................
86,002,396
93.447,302
121.059.369 104.831.880 4-15*5
T ota l S o u th e r n .......
+7*1 2.313.162.334 1.749.618.194
T ota l a l l ..................... 2.416.704.428 2.256.827.105
O utside N ew Y o r k .. 806.157,056 802,783 08 < + 7 9 1^2.104.384 642 756.124
Ca n a d a —
15.008,027
12,008.183
15.782.960 +21*1
19,113,186
M o n tre a l......................
12.BH5.llV4
9.741.030
15,750,901
15,395,032
T o r o n t o ........................
1.828.249
1 847,838
2.7 0,804 4 8
3.732.893
W in n ip eg ......................
1,581.583
-3*8
1,500,000
1,828,287
1,759.746
H a lifa x ..........................
920,873
858,256
779.303 +49*8
1,107.789
H a m ilton ......................
085.440
039.719
743,128 +14*6
851.497
St. J oh n .........................
793.699
709.020
—7 3
451.937
419.080
V ic t o r ia ........................
772,720
715,607
800.594 +81*0
1.049.082
V a n cou v er....................
1,815.155 +13*7
1J94.918
Q u e b e c ................... . ..
.........
.........
—0*8
1,837,700
1,8
Ottawa
850,515 Not include d »n t*» tal.
L o n d o n ..........................
30.617.721
31,158.795
41,690.129 4-13*2
47.18*2.798
T ota l C a n a d a ..........

348

THE CHRONICLE.
THE F IN A N C IA L SITU A TIO N .

Congress has made excellent progress this week In
the matter of legislating with reference to the im
portant issues before the country at the present time.
Probably no affair has a closer connection with busi
ness interests than the locking-up in the Sub Trees
ury of the surplus revenue of the Government. Of
course when money is very easy and bank reserves
are large this interference with the floating supply of
money is at a minimum. The chief disturbance
comes when bank reserves are low and an active with
drawal of currency for crop movement is under way;
with such conditions prevailing Treasury withdrawals
are a menace to the money market, and so to all en
terprise and to every department of business. We
had begun to fear that the session was so short this
matter would be left without the relief needed, which
could be provided only by the passage of amend
ments to the Sub-Treasury law. This week, how
ever, Senator Aldrich has introduced a bill that
promises to correct the friction and currency contrac
tion the working of the Sub-Treasury law now causes,
by materially facilitating the transfer to depositary
banks of funds locked up in Sab-Treasury vaults. On
Wednesday the Finance Committee reported the Al
drich bill to the Senate and it is said its author is
hopeful of its passage. We have remarked upon the
details of the measure in a subsequent article. There
is no defect in our financial and currency arrange
ments that calls so loudly for relief.
The expected trust legislation has been in large part
either completed or materially advanced, and bids
fair to be wholly gotten out of the way before ad
journment. It is a little difficult at the moment to
reach an accurate idea of the full legal meaning of
the changes already made, especially when added to
those likely to be made in the laws affecting what are
technically called “ Trusts,” a name which in one w
ay
and another includes pretty much all corporations. A
leading feature of the program relating to trusts
at the current session is the measure creating the
new Executive Department of Commerce and Labor.
The bill having those purposes in view was, it will be
remembered, referred to a conference committee of
the two Houses. That committee has come to an
agreement this week, and the House on Tuesday and
the Senate on Wednesday passed the bill as agreed
upon and reported, and it only needs the
President's signature to become a law.
The part of this statute which gives to the
new department jurisdiction of the subject
of trust control, enacts that there shall be
in this department a Bureau of Corporations and a
Commissioner of Corporations, &c. The Commissioner
is to have power to make under the direction and con
trol of the Secretary of Commerce and Labor “ dili
gent investigation into the organization, oonduct, and
management of the business of any corporation, jointstock company or corporate combination engaged in
commerce among the several States, and with foreign
nations, excepting common carriers subject to the
Inter-State Commerce Act, and to gather such infor
mation and data as will enable the President of the
United States to make recommendations to Congress
for the regulation of such commerce and to re
port such data to the President from time
to time a he shall require, and the information so
B

[Vol. LXXVI.

obtained or as much thereof as the President may
direct shall be made public. In order to accomplish
this the Commissioner is given the same power and
authority in respect to corporations, joint-stock com
panies and combinations as is conferred on the InterState Commerce Commission in respect to common
carriers so far as applicable, including the right to
subpoena and compel the attendance and testimony of
witnesses. All requirements, obligations, liabilities
aud immunities imposed or conferred by the InterState Commerce Act also apply to all persons who
maybe subpoenaed to testify as witnesses or to produce
documentary evidence before the Commissioner of
Corporations.
Two other so called trust measures have already
passed both Houses. The first of these is the bill
to advance suits brought under the Sherman Act.
Besides this and the Department of Commerce
provision, there remained only Senator Elkins's
rebate bills to complete the Senate's programme
of trust legislation. As the Elkins bill had passed
the Senate and been reported to the House by
the Committee on Inter-State and Foreign Com
merce, there was little difficulty in securing its passage
by the House yesterday afternoon. Whether, with
this legislation completed, the action of Congress at
the current session on the subject of trusts will close
is, of course, not assured, though that is the present
belief. But when one remembers that the Littlefield
bill, a thoroughly revolutionary measure, passed the
House unanimously only last Saturday, and that
Senator Hoar, who on the trust issue has a consider
able following, would adopt Senator Littlefield's plan
if amended in some particulars, it appears by no
means certain that the agitation and the settlement
already nearing completion is to cover the whole
action of this Congress on trusts. Confidence that
It will, rests on the knowledge that it would be quite
difficult to pass any measure in the Senate, which
would meet strong opposition during the short time
remaining of the session.
On Wednesday the Clearing House Association
adopted unanimously the resolutions presented the
week previous to require trust companies to keep a
cash reserve if they desired the facilities of clearing
through a member of the Association. We print
them in full in our oolumu of bank items on
page 358. Before the members voted on tne
resolutions President J. Edward Simmons of the
Fourth National Bank furnished a very inter
esting explanation of the conditions which have
sprung up in recent years that have made the pro
posed change in the Constitution of the Association
needful. It is not possible for us to give the
address in full. No doubt exists in any one's mind
that our Clearing House banks stand sponsor
for the stability of a far greater amount of busi
ness transactions than was the case even a
few years ago. Local mercantile operations and ven
tures have increased greatly in volume; the same is
true of our domestic and foreign bankers and of our
Clearing House institutions themselves. Then there
is another kind of business of recent origin here
which our bank reserves have to provide for in case
of any financial stringency. “ Western and other outof-town banks have inaugurated the practioe of loan
ing money on call directly in this city instead of de
positing surplus moneys with their New York cor-

February 14, 1903.]

THE CHRONICLE.

respondents, who make loans based on these ad
ditional deposits.” Mr. Simmons says that in favor
able periods “ the amount of money thus loaned by
out-of-town institutions directly upon collateral
security has averaged fully $160,000,000.
At all
periods of financial stringency most of these loans
are called and the money to pay the same in whole
or in part has to be shipped from the New York
bank reserves.”
These are all conditions of recent growth contribut
ing in a greater or less degree to change the monetary
situation and increase the burdens our bank reserves
have to carry. Now to these add that large olass of
financial bodies known as trust companies, which hold a
leading part in the monetary affairs of this centre, and
are carrying extensive deposits payable on demand.
Only so far as this expanded business has increased the
deposits of our Clearing House banks has the reserve
held for an emergency increased. Other than that,
in these various ways our ability to bear up under a
crisis is obviously lessened.
This situation has
for a long time attracted the attention of
leading bankers and the present effort is a
first step towards providing in some measure a remedy.
What course the trust 'companies will take has not
as yet developed. Some anxiety has been expressed
as to whether, if the suggestion of the banks is ac
cepted and the trust companies undertake to collect
the needed reserve, the act of accumulation may not
deplete our money market to a serious extent. There
is no reason for anxiety on that account. The cur
rency would be collected during the quieter business
months. It is not unlikely, however, as the fall
months approached, that the movement would in
crease money market rates to an extent. It might in
that event lead to an import of gold. In whatever
way the needed supply would come, we may be
assured the operation would be in the interest of
greater business stability at this center; that it would
increase confidence; and confidence is always the
forerunner of easy money.
The Anthracite Strike Commission appointed by
President Roosevelt is hearing the closing arguments
in the case of the contest between the miners and
operators, which has been submitted to its arbitrament
and decision. On Thursday of this week President
George F. Baer of the Reading Company made a
lengthy and very able address on behalf of the coal
companies. Mr. Baer through the whole of this
great struggle, in all its various stages up to the
present time, has shown himself to be a man of rare
resources and ability, well qualified for the prominent
part which has fallen to his lot. His argument this
week has furnished the crowning evidence of his
mental and moral equipment. Clear-headed and
with an unusual power of lucid statement, he
has presented the case of the companies in
a way to carry conviction to the unbiased
mind, while demonstrating how untenable and inde
fensible is the position of the miners. More than
that, he has submitted a new proposition for dealing
with the question and which it strikes us furnishes
the best solution of the problem that has yet been
submitted. In brief Mr. Baer proposes to pay the
miners on a sliding wage scale, their wages to fall
or rise with the market price of coal at New
York, but in no case to drop below the present
basis. The following is the proposition in detail:

349

“ That the rate of wages now paid shall be the
minimum basis for the next three years; that
from the first of November 1902 to the first
of April 1903 all employes, other than contract
miners, shall be paid an additional 6 per cent; that
on and after April 11903 for each five cents in excess
of $4 60 per ton on the average price realized for
white ash coal in the harbor of New York, on all
Blzes above pea, wages shall be advanced 1 per cent;
the wages to rise or fall 1 per cent for each five cents
increase or decrease in prices, but they shall never
fall during the next three years below the present
basis.” The computation of average prioes for each
region called for by the foregoing is to be made by a
competent accountant to be appointed by Judge Gray,
Chairman of the Commission, or in case for any reason
Judge Gray cannot act then by one of the United
States Circuit judgeB holding court in the city of
Philadelphia.
We can conceive of no fairer terms than those em
bodied in the foregoing proposition. They seem not
only fair but reasonable, inasmuch as for the period
at least since the strike the miners are at once as
sured of a 5 per cent increase. They would do away,
moreover, with the necessity for future conferences,
the arrangement working automatically— if the price
of coal should advance wages would go up, if the
price should fall wages would go down, but not below
the present basis. We do not see how the miners
could ask more, and we are positive that they can
never get more, since the price received for
coal must in the end be the controlling factor.
Whether the proposition will be accepted by the
representatives of the miners is of course a wholly
different question. Such an arrangement perma
nently established would obviate almost altogether
the need of any miners’ organization, leaving the ex
ecutive officials of that body with practically no work
to do. We may be sure that this will not be to their
liking, as meddlesomeness in affairs between employer
and employe is the chief occupation of such officials.
As the reader may recall, the sliding scale of wages
existed on the Reading for a good many
years and was always found to work satis
factorily. In fact no reason whatever existed
for its abandonment except that when Mr. Mitchell
and the United Mine Workers got the upper hand
they took Immediate steps to have it dropped, sub
stituting for it the rule and the will of the miners’
organization, which has led to interminable strife and
turmoil ever since.
By this proposition of Mr. Baer
the sincerity of Mr. Mitchell and his organization, in
their expressed solicitude for the mine workers, is
put to the test. The entire community, including all
real friends of the laboring classes, will await the out
come with much anxiety.
From the annual statement of the savings banks of
New York State for January 1 1903, as submitted by
Superintendent Kllburn of the State Banking De
partment at Albany the present week, it appears that
the aggregate resources of these savings institutions
in this State are now close to the 1,200-million dollar
mark. The total is given as $1,191,327,673. This is,
roughly, 60 million dollars more than a year ago,
when the amount was $1,131,664,624, and is
over 126 million dollars more than it was two
years ago on January 1 1901, when the aggre
gate was $1,066,019,216. If we] go back to 1894 we

350

THE CHRONICLE.

find the amount then only $704,635,118. There is
something peculiarly gratifying in the growth and
expansion of these institutions. It is of course true
that savings bank deposits cannot be accepted as representing exclusively the accumulations of the poorer
classes of our population. The banks are being
freely used by persons of quite ample means, the
familiar method being to keep an account with
one bank until the limit of $3,000 is reached,
then open an account with a second institu
tion till the same limit is reached, and to continue the
operation so long as [any institutions remain within
easy and convenient access from the home of the de
positor. Nevertheless, the great bulk of the deposits
may be regarded as the belongings of the humbler
classes of the population, and even in the case of the
other classes referred to (for whose use these savings
institutions were not intended) the growth and addi
tions represent accumulations of wealth.
It is
certainly a pleasing fact to contemplate that in this
State wealth is augmenting in this way at the rate of
60 to 70 million dollars a year, that having been the
usual amount of increase the last five or six years.
The freight congestion on our leading railroads is
still acting to restrict the production of iron in this
country. According to the figures prepared by the
“ Iron Age” of this city, the capacity of the active fur
naces on the 1st of February was only 343,111 tons
per week, as against 353,800 tons on January 1. It
appears, nevertheless, that the make of iron for the
month of January was 1,507,136 tons.
This
is at the rate of considerably over 18 mil
lion
tons
a year— obviously a very large
total. It
is well
enough
to
note,
too,
that stocks have slowly begun to rise—from all of
which it would appear that our heavy home produc
tion, together with the large importations from
abroad, are at length sufficing to satisfy the demand.
The stocks are still extremely small, but for February
1, according to our contemporary, the total of these
stocks, sold and unsold (not embracing the holdings
of the steel works producing their own iron, which
are never included) were 119,641 tons, against 99,895
tons January 1st, 94,295 tons December 1 and 71,858
tons November 1.
____ _
The statement of the New York Associated Banks
on Saturday a week ago showed an increase of $20,447,900 in loans. This was attributed in part to the
transfer to this side of loans that had been carried in
Europe, the easy tone of the money market here
making it advantageous to pay maturing sterling
loans in this way rather than to renew them. The
total increase in loans since December 27 1902 is
$49,637,100. Loans are now $924,958,600, comparing
with $918,606,000 in 1902 and $895,289,400 in 1901.
The reserve held was decreased by $7,234,800. De
posits were increased by only $8,401,200, whereas the
increase in loans, minus the loss of cash, should have
made the increase in deposits nearly $5,000,000 more.
The statement of the Western National Bank of the
United States in New York showed that as a result
of the merger into that bank of the Western National
and the National Bank of the United States there had
been transferred from deposits to capital account
$6,076,000, thus explaining the discrepancy. Deposits
are now $940,180,100, comparing with $1,000,681,900
in 1902 and $994,593,900 in 1901. The reserve re
quired was $2,100,300 more than last week, which,

[VOL. L X X V I.

added to the loss of cash, made the decrease in sur
plus reserve $9,335,100. The surplus now is $18,545,676, which compares with $17,896,226 in 1902,
$20,362,625 in 1901 and $27,897,575 in 1900. The
surplus, not counting reserve against United States
deposits, is $28,567,675.
There was no change in the average rate for call
money this week. The supply was abundant and the
demand was at no time urgent. Time money was
much easier, but the inquiry was rather light from
commission houses. Bankers generally expressed the
opinion that money would continue easy for at least
another month or two. Announcement was made
that the Erie Railroad Company had authorized the
issue of $50,000,000 4 per cent fifty-year convertible
bonds for much-needed improvements, of which
$10,000,000 is to be issued at once at 87£ and interest.
This issue has been underwritten by a syndicate
headed by J. P. Morgan & Co., and is first to be
offered for subscription pro rata to the holders of
trust certificates for first and second preferred and
common stock of the company.
Money on call, representing bankers7 balances,
loaned on the Stock Exchange this week at 2 to 3£
per cent, averaging about 2| per cent. On Monday
the rates were 2 to 3 per cent, averaging about 2^ per
cent. On Tuesday the rates were 2£ to 2| per cent,
with the ruling rate 2 f per cent. On Wednesday
rates were 2 f@ 3 per cent. Thursday was a holiday.
On Friday rates were 2f@ 3£ per cent and the ruling
rate was 3 per cent. Banks and trust companies
loaned at 2 f per cent as the minimum. Time money
was easier. Rates were 4@4£ per cent for sixty to
ninety day and 4 | @ 4 i per cent for four to six months,
on good mixed collateral. Some loans were reported
above and below these rates, and the market might
fairly be quoted at 4@5 per cent for all periods, ac
cording to collateral. No concession was made this
week on commercial paper. There was no pressure
of names, but the demand was lighter from out-oftown institutions, and local banks took very little
paper. Rates are 4 f per cent for sixty to ninety day
endorsed bills receivable, 4 f @5£ per cent for prime
four to six months' single names, and 5£ per cent and
above for names not so well known.
The first change in many mouths in the official dis
count rates of European banks occurred on Wednes
day, when the Imperial Bank of Germany reduced its
rate from 4 to 3£ per cent. The Bank of England's
rate remains unchanged at 4 per cent.
This week's
return of the Bank of England shows the ratio of re
serve to liabilities 49*28 per cent, against 48*69 per
cent last week and 48*26 per cent in the correspond
ing week of last year. The cable reports discounts of
sixty to ninety-day bank bills at London 3f@3^
per cent. The open market rate at Paris is 2 f@
2 f per cent and at Berlin and Frankfort it is 2
per cent. According to our special cable from Lon
don, the Bank of England gained £459,354 bullion
during the week and held £35,123,757 at the close oi
the week. Our correspondent further advises us that
the gain was due to receipts of £359,000 net from th«
interior of Great Britain, to imports of £140,000, oJ
which £100,000 from Egypt and £40,000 from the
Gape, and to exports of £40,000 to Argentina.
The foreign exchange market’ continued to gain
strength this week, influenced by easy money here

THE CHRONICLE

F ebruary 14, 1903.]

which induced payment of maturing sterling loaus
and probably anticipation of mercantile indebted
ness. Rates of exchange on Tuesday and Wednesday
were very close to the gold-export point, but sterling
exchange at Paris advanced from 25 francs 14| cen
times at the opening on Monday to 25 francs 16 cen
times on Wednesday, which was a little more than the
advance of sterling exchange here for the same pe
riod, and gold exports were thus made impossible ex
cept at a loss. The Assay Office paid for domestic
bullion $682,132 72. Gold received at the Custom
House $9,765, of which $1,745 was in U. S. gold
coin and $8,020 in bullion.
Nominal quotations for sterling exchange were
marked up on Monday to 4 85 for long bills and 4 88
for sight by all drawers of exchange who had posted
lower rates last week. The market on Monday ad
vanced 5 points for long bills to 4 8430@8435, 5 to
10 points for sight bills to 4 8725@4 8735, and 15
points for cables to 4 8775@4 8785. On Tuesday
long bills were unchanged, sight bills were 10 points
higher and cables 6 points higher. On Wednesday
the market was very strong all day, closing with long
bills quoted at 4 8440@4 8450, sight 4 8740@4 8750
and cables 4 8785 @ 4 4895. On Friday the market
was very strong at a further advance of 15 points.
The following shows daily posted rates by some of the
leading drawers.____________________________________
FBI.,
0.

F eb .

<
Brown B roi...... i 60 days
Sight..
Baring,
<00 days
Magonn A Co.. 1 Sight..
Bank British
(00 days
No. America.. ( Sight..
Bank of
100 days
(Sight..
Montreal........
Canadian Bank j 00 days
o f Commerce.. (Sight..
Heldelbach, Ick- j 00 days
elhelmer 4 Co. (Sight..
Laiard Freres.. (00 days
(S igh t..
Merchants’ Bk. <60 days
o f Canada...... ( Sight..

Mon .,
F eb . 9

Tuxs., W ID., T htjk., F * I„
F eb . 10. F eb . 11. F eb . 18 F eb. 13.

85
88
85
88
86
88
86
88
86
88
86
88
86
88
86
88

4 86
4 88
4 80
488
4 84*
4 87*
4 84*
4 87*
4 84*
4 87*
4 85
4 88
4 86
4 88
4 35
4 88

85
88
85
88
85
88
86
88
85
88
85
88
86
88
85
88

85
88
85
88
86
88
85
88
86
88
85
88
86
83
86
88

85
88
85
88
85
88
85
88
86
88
85
88
85
88
85
88

b.
<j
C
—
j
c•
1

_

The dose Friday was at 4 8450@4 8460 for long,
for short and 4 88@4 8810 for
oables. Commercial on banks 4 8415Q4 84£ and
documents for payment 4 83£@4 84£. Cotton for
payment 4 83£@4 83f, cotton for acceptance 4 8415
@ 4 8425 and grain for payment 4 84£@4 84£.
4 8755@4 8766

The following gives the week's movements of money
to and from the interior by the New York banks.
Net Integer
Movement.

Reeeived bv Skipped bv
N. F. Banks. N. F. Banks.

Week Bndine F eb . 13, 1908.
Ovrranoy.............................................
S o ld .....................................................

*6,110.000
498,000

(8,950,000
893,000

Gain *3,100,000
Loss.
894,000

Total gold and legal tenders......

*6.014.000

*3,843.000

Gain. 11,778,000

Result with Sob Treasury operations

:

Week End ins F eb . 18,1908

Into
Betnke.

o u ts;
Banks.

Net Okane* »»
Bank Boldines

Banks interior movement, as above
Bnb-Tr$yr np^rntiona. T ., f.............
T

*6,614,000
18.W O000
O

*8,843,000
19,300,000

Gain. *1,778.000
Loss l.O O O
O .O i

(33.814.000

Total gold and legal tenders—

1*3,043.000 Gain.

*778,000

The following table indicates the amount of bulliot
In the principal Furouean banks.
F eb .

18.1903.

F eb .

13,1903.

Bank o f
Gold.
■ngl&nd ....
France... ...
Germany......
Bnssla........
Ans.-Hnng’y.
Spain............
Italy......... ..
Netherlands..
Nat Belg’m ..

S ilver.

T o ta l.

Gold.

S ilv er.

T o ta l.

£
85,138 757
100.748.107
88,354,000
77,990.000
40.816,000
14,409,000
17,079,000
4,897,700
8,870,007

£

S
85.128,757
144,009.189
46,658,000
85,486,000
58,981,000
84,890,000
19,351,800
11.259.000
4.915,000

£
80,898,780
98,943,076
88,242,000
71,913,000
48,006,000
14,041,000
18,001,000
6,7S0,8T0
8,183,838

£

£
80,993,720
148,973 851
68 386,000
78,888,00
58,375,00
81,493.0 <
18,122.400
12,170.801
4,776,00

48,800,908
12,899,000
7,445.000
12,089,000
19,887,000
8,172,810
8.6619 0
1,088 383

44,080.875
14.144.000
0 970,000
11,770,000
17,423.000
8,121,400
6,445,501
1,591,007

Touthls wees 333.893,391 106E33995 189,487,380 831,651,935 104494848 4i0.O46,77T
*’<> n m w'k 82P,988.*70 idflOfllSfl* *35 9B9.8S2'aS9.fllS.R53 10SU 17rt 488 5IW.72S
■*
I'.S

351

R E F O R M O F THE G O V E R N M E N T B A N K
D E P O S IT S YSTEM .
We presume that the bill introduced in the Senate
this week by Mr. Aldrich, with a view so regulating
the Treasury's system of bank deposits, will pass into
law. There is certainly every reason why it should.
Of all the numerous anachronisms and provincialisms
in our existing system of public finance, the laws
governing public deposits are perhaps the most archaic.
It has been truthfully said that, in our theory of a
national treasury, keeping its surplus locked in cash
in a vault, where it could not serve the purposes of
commerce, we shared the distinction of the practice
only with such progressive States as Persia and
China.
We are aware, of course, while saying this, that ex
isting laws also permit deposit of these funds, on cer
tain terms, with national banking institutions. But
the authority was granted grudgingly, and for the
most part, in the two past decades, has been exercised
with great reluctance. In fact, the very law which
made these deposits legal surrounded itself with
limitations such as very successfully defeated its own
purpose. With a diminishing public debt the Treas
ury was compelled to insist on collateral of United
States Government bonds against both public de
posits and circulating
notes.
Of
this
the
perfectly logical result was that when surplus
revenue grew heavy, the Government would be
compelled simultaneously to buy back its own securi
ties and to appeal to the banks to buy them in order
to increase their lines of Government deposits. It
thereby forced such depositories always to buy their
collateral in the dearest market. This might have
been passed over but for two other facts— one, that
the Treasury's redemptions inevitably caused a situa
tion where either the bonds were unobtainable or
where they could be obtained only by drawing out the
collateral against the notes; the other, that return
of a Treasury deficit would suddenly stop demand
from both sources for the bonds, cause a fall in the
market for the bonds, and thereby leave the banks
with a loss on their Investment.
If the practice of other nations were to be taken as
the rule, requirement of collateral on these deposits
might be described as needless; such deposits are
already a first lien on the assets of depository banks,
and ought to be thereby abundantly secured. It is
probable, however, that the results of the rash experi
ments with deposit banks in 1834 have prevented
recognition of such a principle, and it is also fair to
say that the question presented with four or five
hundred separate depositories somewhat differs from
that which deals with only one. But granting that
the security is less sure of measurement where the
holders of the funds are scattered, it is still the duty
of the common-sense people to apply common-sense
in prescribing safeguards.
The Aldrich bill's proviso is for accepting not only
Government collateral, but (1) bonds of any State
of the Union, (2) “ any legally authorised bonds issued
for municipal purposes by any city in the United
States which has been in existence as a city for a
period of twenty-five years, and which for a period of
ten years previous to such deposit has not defaulted
in the payment of any part of either principal or in .
terest,” which has more than 100,000 inhabitants, and
whose net debt does not exceed 10 per oent of the

352

THE CHRONICLE.

taxable valuation, or (3) “ the first mortgage bonds
of any railroad company which has paid dividends of
not less than 4 per cent per annum regularly on its entire
capital stock for a period of not less than ten years.”
We consider these provisions entirely conservative.
Some criticism has been made on the authorization of
railway bond collateral—a suggestion which we
believe was not included by the Chamber of Com
merce in its recent resolutions on the subject. But
it ought to be remembered that the limitations with
which such authorization is surrounded in the bill
are on the whole more stringent than those with
which the savings bank laws have guarded in
vestment by those institutions. Furthermore, it
should be obvious that one possible disadvantage of
the proposed new law—undue enhancement in value
of securities now sought out for investment of various
other trust funds—will be diminished exactly in pro
portion as the scope of public deposit collateral is
widened. I we imagine a state of things in which
the public debt were canceled and the public surplus
rising, and yet in which no other outside collateral
but State and city bonds would be accepted, the effect
on market values for those securities might be such
as to make extension of Government deposits all but
impracticable.
If we were to criticize any part of the Aldrich
biirs provisions, it would be the use of the merely
permissive word “ may ” in its clauses regarding such
collateral. The Secretary, it is provided, may aocept
the prescribed seourity, not must. For ourselves we
are not greatly exercised as to the necessity of this
collateral safeguard. But if it is prescribed it ought
not to be left discretionary. There is discretion
enough in the bill's provisions on this matter, even if
requirement of collateral be made mandatory; for the
Secretary is expressly authorized to accept the se
curities “ in such proportions as he may from time to
time determine,” and no rule is set down as to the
ratio between the value of the collateral and the
amount of the deposits. We think, therefore, that it
would be unfortunate to leave the law in such shape
that pressure might conceivably be brought, at some
future emergency, such as existed last September, to
induce a Treasury officer, to stretch an uncertain pro
vision of the law. It is from these points of disputed
interpretation that the most serious tangles in public
administration have their origin.
As for the proviso requiring interest payment on
such deposits, “ at the rate of not less than 1£ per
centum per annum,” it is perhaps enough to say that
this stipulation was proposed by the Chamber of
Commerce, which in large measure represented the
banking interests which will pay the charge. It is de
clared to be wholly satisfactory to the banks as a class,
and is therefore, in our opinion, pretty good proof
that financial interests have approached the problem in
a spirit of entire fair-mindedness, and not, as is com
monly and loosely alleged, with a wish to gain some
advantage over the Government. When we add that,
so far as we know, no other government enjoys a con
cession of this sort from its depository institutions,
such a voluntary offer becomes rather striking. We
sincerely hope, however, that even this disposition of
a public surplus, which is at best only a makeshift,
will not be allowed to stand in the way of the really
proper dealing with the problem— the adjustment of
revenue to a scale which will, so far as possible, do
away with the surplus altogether.

[V o l .

LXXVL

THE E X C H A N G E S W ITH S IL V E R -U S IN G
COUNTRIES.
The problem of exchange between the gold-using
and the silver-using countries has been a most serious
one since the fall in silver began, about 1867. The
commercial world has been divided practically into
two halves, whose money standards have been growing
wider and wider apart in their relations to each other.
The embarrassments of the problem have caused much
study and effort to reach a solution, but thus far
without great success. The bimetallic solution ap
pealed strongly for a time to many brilliant minds.
This solution involved the unification of the coinage
of gold and silver countries by fusing their curren
cies into a common mass, part gold and part silver.
It was a solution which failed, for two reasons. In
the first plaoe, it attempted the impossible in econom
ics of giving stability of relative value to two different
commodities in the absence of control over either
supply or demand. In the second place, the bimetallic
theory ran counter to the universal tendency of the
rich nations to use the money containing the greatest
value in the smallest bulk, because of its economy
and adaptability to their scale of transactions. With
the collapse of the bimetallic theory, after three
international conferences and an effort to secure
a fourth, the problem has been for some time appar
ently abandoned as hopeless.
While the tendency has been for more than ten
years, by reason of the fall in silver, to make the gap
wider between the currency systems of the gold coun
tries and the silver countries, a means of steadying
exchange has here and there been found by compul
sion of circumstances. In Java the Dutch Govern
ment checked the steady fall in the value of silver
coins by putting a limit on the quantity and making
them receivable at near par for gold drafts on H ol
land. The system has worked admirably in maintain
ing at the old gold parity coins issued at 15£ to 1,
without the circulation of gold or any substantial
gold reserve in Java.
In British India a drastic so
lution of the problem waB undertaken in 1893 by closing
the mints to free coinage and attempting to raise to
an arbitrary parity 1,500,000,000 silver rupees. The
effort at first was attended with difficulties, because of
the great volume of the existing silver money, but as
soon as the closing of the mints and the increase of
business had brought the volume of trade up to the
volume of the currency, there was no further trouble.
It became necessary to coin additional silver, which
the Government offered to do in return]for gold. The
result has been that the silver rupee, although con
taining at present prices only about twenty cents
worth of silver bullion, has been maintained Blnce
1897 at the exchange value of thirty-two cents. Not
only has the Government of British India succeeded
in maintaining the coins at their official value, but it
has freely offered to exchange them for gold without
being subjected to any serious demand.
The experiment so successfully carried out in
British India seems to be the underlying principle of
what is contemplated by Mexico and China in their
request for the moral support of the United States in
securing the co-operation of other countries in giving
stability to the relative value of the money of the
gold and silver nations. The same principle is em
bodied in the Philippine Currency bill now pending
in Congress, which was explained in this journal last

F ebruary 14, 1903.]

THE CHRONICLE

spring. It is a principle of economics which is per
fectly simple. It differs from the bi metallic theory
in abandoning the vain effort to give rigidity of re
lationship to two commodities without control over
either demand or supply. The new project gives ab
solute control over the supply of coins by placing the
issue of them in the hands of the Government in
stead of throwing the mints open to all owners of
bullion. By the exercise of good judgment, influ
enced by certain automatic indications of deficiency
or excess in the supply of coins, a finance minister is
enabled under this system to issue coins when they
seem to be needed and to curtail their issue when it
is evident that the supply is adequate or more than
adequate. In British India it became necessary to
coin about 100,000,000 rupees recently in a single year,
while in other years of less active trade the coinage
has been kept within very narrow limits.
What is proposed by Mexico and other nations
entering upon this policy differs from the experiment
in British India in one important particular. Instead
of dealing with a redundant mass of existing coins, a
new coin is to be issued. This will plaoe the Govern
ment In the most favorable position from the outset
for maintaining the parity of the coins with gold.
No more will be issued than appear to be needed for
the purposes of trade, and prudence will dictate that
the Issues be kept well within these limits until the
demonstration is afforded by events that additional
coinage is required. This will make it much more
simple to maintain parity than was the case in British
India in 1893, when the Government assumed the
heavy burden of raising to parity at a stroke an
amount of silver ooin equal to $500,000,000 in our
currency. While some of the details of such a project
will require careful study and prudence In their exe
cution, there is nothing in the principle which need
prevent the silver countries from succeeding In keep
ing their new currency at gold parity if their fiscal
affairs are governed by the rules of solvency and
honesty.
The governmentsof both Mexico and China strongly
disavow any appeal to the United States or the other
gold-standard countries to change their domestic
monetary systems. Their purpose is to raise their
own currencies to a fixed and permanent relation to
the gold standard. In so doing they are taking prob
ably the longest step towards a gold currency of
which they are capable under existing economic con.
ditions. That it will be a step of enormous benefit
to the trade of the world, if it can be successfully
carried out, hardly needs argument. The money of
Mexico, of China and other Oriental countries, and
of the nations of Lutin America, will become inter
changeable in value with that of the gold countries.
Trade between the two will no longer involve the
risks of great fluctuations In the value of the money
received for the manufactured goods exported from
Europe and America; local silver prices will be lower
because they will not include a wide margin for these
fluctuations; the purchasing power of the silver coun
tries will rise by hundreds of millions; and the stabil
ity of trade relations will enormously increase their
purchases from the manufacturing nations on the one
hand and their productive power and domestic ex
ports on the other. It is not surprising that the
Mexican and Chinese governments, with this vista
of benefit to the commeroe of the world before their
eyes, should make a strong appeal to the U nited'

353

States for its co-operation, and it will involve no
risk for the United States to lend its support in the
thorough examination of the question.

THE B A N K R U P T LAW AS AMENDED.
In November 1901 we discussed at length the de
fects of the existing National Bankruptcy law of 1898
and the amendatory Ray bill which was introduced
in the House and referred to the Judiciary Commit
tee in February previous. We then said that the
subject was one of the greatest importance and dis
cussion of it was timely inasmuch as it mu3t surely
come up at the forthcoming session. Nothing was
done with it in that closing session; but we have now
to record the gratifying fact that an amendatory bill
has quietly gone through in this short session of the
subsequent Congress and was approved on the 5th.
In substance and effect this is the Ray bill, although
not adhering to that in order and wording. The worst
defect of the old law was that it declared all payments
made to creditors within four months prior to bank
ruptcy to be preferential, and required them to be
surrended before any claim should be filed. Unless
shown to be collusive, such payments were not recov
erable by suit, but the creditor had simply to choose
which would probably be better for him; to keep what
he had received or turn It into the pool and take his
chances with the others. Ia this there was neither
consistency of rule nor equity in practice, as between
different creditors. The complete payment was fully
protected, because of course the creditor would hold
on to it; the partial one was banned as far as the
law could ban it. We cited several imaginary cases
of the working of this, and one very remarkable
actual case. In fact all payments on account had a
taint attaching to them for four months thereafter,
because the debtor might fail during that term and
put them in question.
This defect is now removed at a stroke by limiting
the banned preferences to certain ones specified in
other sections, namely payments which are really
preferential, because so intended by the debtor and
understood by the creditor. This accords exactly
with the Ray bill.
The old law declared that a person shall bs deemed
to have given a preference if, being insolvent, he has
procured or suffered a judgment In favor of any per
son to be entered against himself, or has made any
transfer of property which would give a creditor a
greater percentage than other creditors of the same
class. The amendment limits this to cases where
either of those acts is done within four months prior
to filing the petition or after the petition but before
the adjadloation; if the preference consists in a
transfer also, the four months shall not expire until
four months after recording or registering such trans
fer, if such register or record is required by law.
The list of actions which constitute an act of bank
ruptcy is enlarged to cover making a general assign
ment for the benefit of creditors; or, being insolvent,
having applied for a receiver or trustee; or having a
receiver or trustee put in charge under any law be
cause of insolvency. Mining corporations, a3 well as
certain others named, may be judged involuntary
bankrupts; the bankruptcy of a corporation, more
over, shall not release officers, directors or stockhold
ers “ from any liability under the laws of any State,
Territory or of the United States.”

THE CHRONICLE.

354
A n im p o r t a n t c h a n g e is th a t

a b a n k r u p t ’ s w ife is

n o w a d d e d t o th e lis t o f p e rso n s w h o m a y b e r e q u ir e d
b y th e b a n k r u p t c y c o u r t , o n r e q u e s t o f a n in te r e s te d
b u s in e s s

w h ic h sh e is a p a r ty , a n d t o
h a s b e e n a p a rty
A n y tra n s fe rs

to

done

to her

by

by

d e te r m in e

a n y b u sin e ss
h im

o f a lie n a te d p r o p e r ty .
T h e r e are som e m in o r c h a n g e s — w h ic h n e e d n o t b e

w ife c a n

m e n tio n e d p a r tic u la r ly — in t h e p r o v is io n s f o r d is b u r s 
in g d iv id e n d s o n b a n k r u p t esta tes, in t h e p u b lic a t io n

w h e th e r sh e

o f th e

w o u ld

r u p t c y in te r v e n e d — are in t e n d e d t o fa c ilit a t e r e c o v e r y

h e r o r to

p a r ty , t o a p p e a r a n d b e e x a m in e d , b u t th e
b e e x a m in e d o n ly as t o

b a n k r u p t.

n a tu r a lly fa ll

o f o rd e rs a n d o th e r r o u t in e m a tte rs , in
c o m m is s io n s a llo w e d t o tr u s te e s , e t c .

T h e a cts w h ic h m a y b e u s e d t o p r e v e n t g r a n tin g an
in c r e a s e d in

n u m ber.

th e

fe e s a n d

A n y r e m a in in g

d e fe c ts in th e law as it n o w sta n d s w ill b e
in th e p r a c tic e .

w ith in th is s p e c ific a tio n .
a p p lic a t io n f o r d is c h a r g e are

LXXVI.

[V ol.

d is c o v e r e d

T h is a m e n d e d law Is so v a stly b e t t e r

th a n th e fe e b le a n d s h iftle s s d e v ic e o f e n tir e re p e a l o r o f
te m p o ra ry su sp e n s io n (w h ic h w o u ld b e n e a rly as b a d as

O n e o f th e se was ( 2 ) “ w ith fra u d u len t in te n t t o c o n c e a l

re p e a l) th a t b u sin ess in te re sts are t o b e c o n g r a t u la t e d .

true fin a n cia l c o n d it io n , and in contem plation o f
ba n kru p tcy, d e s tr o y e d , c o n c e a le d o r fa ile d t o k e e p

ANTHRACITE COAL PRODUCTION I N 1902.

b o o k s o f a c c o u n t o r r e c o r d s f r o m w h io h h is tr u e c o n 

W it h e v e r y b o d y in n e e d o f c o a l,e v e n t h o u g h t h e p r ic e

h is

d it io n m ig h t b e a s c e r t a in e d .”

T h e w o rd s “ h is t r u e ”

is d o w n a g a in t o p r e tty n e a rly n o r m a l fig u r e s , s ta tis tic s

in th e la st c la u s e a re n o w c h a n g e d t o “ s u c h ” a n d th e

b ea rin g on t h e a n th r a c ite p r o d u c t i o n p ossess m o r e t h a n

ita lic is e d w o rd s

an a c a d e m ic In te re st a t th is t im e .

a re s tr ic k e n

ou t.

N ew

m a tte r

is

a d d e d as fo llo w s :

T h e fig u r e s f o r th e

c a le n d a r y e a r 1902 are n o w a v a ila b le , a n d t h e y r e v e a l

“ O r (3 ) o b ta in e d p r o p e r t y o n c r e d it f r o m a n y p e r 

in a s ig n ific a n t w ay

th e

rea s o n s

fo r

th e

p r e v a ilin g

s o n u p o n a m a te r ia lly fa lse s ta te m e n t in w r it in g m a d e

sca rcity o f c o a l.

to

as e v e r y b o d y k n o w s , la s te d f r o m t h e 1 2 th o f

su ch person

fo r

th e

p u rp ose

of

o b t a in in g s n c h

p r o p e r t y o n c r e d it , o r (4 ) a t a n y tim e s u b s e q u e n t t o th e

T h e a n t h r a c it e c o a l

the 2 3 1 o f O c t o b e r .

m in e r s ’ s t r ik e ,

T h is w as a p e r io d o f

M ay to

n e a r ly fiv e

first d a y o f th e f o u r m o n th s im m e d ia te ly p r e c e d in g th e

and a h a lf m o n th s .

filin g o f th e p e t it io n , tr a n s fe r r e d , r e m o v e d , d e s t r o y e d

s trik e , m in in g w as r e s u m e d o n a n e x t r a o r d in a r y s ca le .

o r c o n c e a le d , o r p e r m it t e d t o b e r e m o v e d , d e s tr o y e d

N e v erth eless, it a p p ea rs th a t

o r c o n c e a le d , a n y o f h is p r o p e r t y , w ith in t e n t to h i n 

a n th ra cite in th e a g g r e g a t e w e re

d e r, d e la y o r

d u r in g th e c a le n d a r y e a r 190 2 , as a g a in s t

d e fr a u d

h is c r e d it o r s ;

o r (5 ) in v o lu n 

A fte r

th e

t e r m in a t io n o f th e

o n ly 3 1 ,2 0 0 ,8 9 0 to n s o f
s h ip p e d

ta ry p r o c e e d in g s b e e n g r a n te d a d is c h a r g e f r o m b a n k 

tons in th e

r u p t c y w ith in s ix y e a rs ; o r ( 6 ) in t h e c o u r s e o f th e

sh o rta g e in a m o u n t o f 21 m illio n

p r o c e e d in g s in b a n k r u p t c y r e fu s e d t o o b e y a n y la w fu l

in g ta b le sh ow s th e a n n u a l s h ip m e n t s t o

o r d e r o f o r to a n sw er a n y m a te ria l q u e s tio n a p p r o v e d

to

m ark et

5 3 ,5 6 3 ,6 0 1

ea ch o f th e la s t t h ir t y y e a rs :

b y t h e c o u r t .”

Tear.

T h is n e w m a tte r e x p la in s a n d c o m m e n d s it s e lf. T h e
in t e n t t o d e fr a u d c r e d it o r s in s p e c if ija t io n f o u r is s u b 
j e c t t o p r o o f.

S p e c ific a t io n t w o , as it s to o d , g a v e th e

p r e s u m p tio n to th e b a n k r u p t a n d th r e w u p o n c r e d i 
to rs th e o b v io u s ly d iffic u lt ta sk o f p r o v in g h is k n o w l
e d g e a n d i n t e n t ; th e a m e n d m e n t p r o p e r ly In fe rs th e
m o t iv e

and

k n o w le d g e f r o m

a c tio n s

w h ic h

a re

of

th e m s e lv e s s u s p ic io u s .
The

s e c t io n

le a se d

by

ch an ged.

r e la tin g t o d e b ts w h ic h

d is c h a r g e

in

b a n k ru p tcy

a re
is

not re

som ew hat

L ia b ilitie s f o r p r o p e r t y o b t a in e d b y m is 

r e p r e s e n ta tio n , o r f o r w ilfu l a n d m a lic io u s in j arles to
t h e p r o p e r t y o f a n o th e r ;

o r f o r a lim o n y ,

fo r sed u c

t io n , o r f o r m a in te n a c e o f w ife o r c h i l d ; o r d e b ts n o t
d u ly s c h e d u le d in t im e f o r p r o o f a n d a ll> w a n ce , w ith
th e

c r e d it o r ’ s

u n le s s

su ch

b a n k ru p tcy
fr a u d ,
th e

nam e,

fid u c ia r y

if

know n

to

th e b a n k r u p t ,

c r e d it o r h a d a c tu a l k n o w le d g e
p r o c e e d in g s ;

e m b e z z le m e n t

d eb tor

w h ile

or

or

a c t in g

c a p a c it y — all

d e b ts
oth er
as

th e s e

c r e a te d
o ffic e r
not

th e

by th e

m a lfe a sa n c e

an
are

of

in

re le a s e d

of
an y
by

d is c h a r g e .

year

190 1 .

w h e n th e

p e r s o n r e c e iv in g th e m ( o r h is a g e n t ) h a d r e a s o n a b le
c a u s e t o b e lie v e th a t a rea l p r e fe r e n c e w as in t e n d e d
t o b e v o id a b le b y th e tr u s te e , a n d m a k e s th e m r e c o v 
e ra b le a t s u it b y h im f r o m s u c h p e r s o n . T h e a m e n d e d
la w a d d s to th is th a t a n y b a n k r u p t c y c o u r t , a n d a lso
a n y S ta te c o u r t w h ic h w o u ld h a v e h a d ju r i s d i c t i o n
h a d n o t b a n k r u p t c y In te r v e n e d , sh a ll h a v e c o n c u r r e n t
ju r is d ic t io n ,

“ fo r

th e

p u rpose

of

su ch

r e c o v e r y .”

T h is — a n d a n o th e r a m e n d m e n t w h ic h ta k e s s u its f o r
t h e r e c o v e r y o f p r o p e r ty tr a n s fe r r e d w ith

fr a u d u le n t

o r p r e fe r e n tia l in t e n t o u t o f th e r e s t r ic t io n th a t su its
b y t h e tr u s te e m u s t b e b r o u g h t in c o u r t s w h ic h th e
m ig h t

have

u se d ^ h im self

had n ot b a n k 

H ir e

th en

ton s.

w as a

T h e fo llo w 
m arket fo r

Tear.

Tons.

1902................................31,200,890
1901................................53,568,601
1900................................45,107,486
1899................................47,665,203
1898................................41,899,751
1897............................... 41,637,866
1896............................... 43,177,483
1895............................... 46,511,477
1894............................... 41,391,200
1893............................... 43,089,536
1892............................... 41,893,320
1891............................... 40,448,336
1890............................... 35,855,174
1889............................... 35,407,710
1888............................... 38,145,718

Tons.

1887................................34,641,017
1886................................32,136,362
1885................................31,623,529
1884................................30,718,293
1883........................ .....31,793,027
1882................................29,120,096
1881................................28,500,017
1880................................23,437,242
1879................................26,142,689
1878................................17,605,262
1877................................20,828,179
1876................................18,501,011
1875................................19,712,472
1874................................20,145,121
1873...............................21,227,952

I t w ill be o b s e r v e d th a t it is n e c e s s a r y to g o b a c k t o
1884— th a t Is 18 y e a rs — t o fin d a t o t a l as sm a ll as
th a t f o r 1 9 0 2 .

I t is n e e d le s s t o say th a t th e r e w e re

n o s to c k s at tid e w a te r s h ip p in g p o in t s o n J a n u a r y 1
1903.

O n J a n u a r y 1 1902 th e a m o u n t h a d b e e n 4 1 5 ,-

757 to n s ; J a n u a r y 1 1899 th e t o t a l w as 7 0 6 ,6 5 9 to n s.
W it h c o a l-m in in g s u s p e n d e d f o r so l o n g a p e r io d o f
tim e th e p e r c e n ta g e s o f t h e t o t a l o u t p u t o f th e d iffe r 
e n t c a r r y in g in te r e s ts n a t u r a lly v a r ie d g r e a t ly fr o m
th e ra tio s o f th e y ea rs p r e c e d in g .

T h e s e p e r c e n ta g e s

to o , u n d e r t h e p e c u lia r c ir c u m s t a n c e s e x is t in g , p o s 
sess v e r y l i t t l e s ig n ific a n c e .

T h e o ld la w d e c la r e s p r e fe r e n c e s g iv e n

ban kru pt

c a le n d a r

I n o r d e r , [h o w e v e r, t o

k e e p u p o u r r e c o r d w e g iv e th e fo llo w in g , s h o w in g
th e a m o u n ts c a r r ie d o v e r th e d iffe r e n t ro a d s in 1902,
as c o m p a r e d w ith t h e t h r e e p r e c e d in g y e a rs .

The

D jla w a r e L ic k a w a n n a & W e s t e r n , it w ill b e s e e n , s u f
fe r e d r e la tiv e ly less th a n a n y o t h e r c a r r ie r .
,------- 1902.------- ,

Tons.

P. 0.

----- 1901.------- , ,------- 1900.------- , ,----- -1899.------- .

Tons.

P. C.

7'rms.

P. C.

Reading............. 5,909,401 18"94 10,971,007 20M8 9,338,517 20'70
Lehigh V alley. 4,031,535 14-81
8,310,34315‘51 0,909,444 15 32
Central N . J . . .. 3,029,980 11-03
0,100,037 11-50 5,309,850 11-77
Del. Lack. & W . 5,152,498 16 o l
7,531,735 1400 0,013,819 13‘33
Del. & H udson. 3,090,604 9-91
5,007,022 9 35 3,973,859 8‘81
Pennsylv. R R . 2,010,234 8’37
5,047,125 10'54 5,109,917 11'40
Pennsyl. Coal. \
c 2,090,153 4'64
Brie................. > 3,814,150 1222
5,841,59310’91 ) 1,741,009 3‘80
N .Y .S u s.& W .J
(1,333,848 2*95
N. Y. Ont. & W . 1,827,478 5 22
2,508,277 4 08 1,058,450 3-08
Del. Susq.fc Sch. 735,001 2-30
1,590,802 2 97 1,503,488 3 48

Ions.

P. C.

9,083,503 20-33
7,587,932 15*92
6,392,630 11-31
0,372,401 13 37
4,132,459 8'07
5,159,102 10-82
2,347,081 4*92
1,949,870 4‘09
1,454,374 8 05
1,891,478 3-97
1,094,407 3-50

T o ta l........... 31.200,890 100 0 53,588,601 lOO'O 45,107,488 100 0 47,005,203 100‘0

F ebru ary 14, 1903.]

THE CHRONICLE.

As far as prices are concerned, the record is In some
respects phenomenal. Early last month retail dealers
charged $10 to $12 a ton. Just before the termi
nation of the strike, that is at the beginning of
October, Borne small amounts of coal were sold at re
tail as high as $26 a toD; in fact those who held coal
at that time could get almost any price. It is not,
however, these extraordinarily high prices that con
stitute the most noteworthy feature of the year. The
fact upon which we would lay emphasis is that while
fancy prices were being paid for coal at retail, ihe
coal companies sold at wholesale at only a very slight
advance over previous figures. The usual spring
circular was issued the first of April fixing the price
of egg, stove and nut coal at,$t 60 a ton, with graded
discounts starting with 60 cents for coal bought in
April and diminishing 10 cents for each succeeding
month thereafter, until on September 1 the full cir
cular price was to be charged with no discount allow
ance whatever. This was the same arrangement as
in 1902, but of course there was no opportunity to
carry it into effect, the strike breaking out in May.
In October, on the resumption’ of mining after the
strike, the coal companies made an advance of 50
cents, bringing the prices for egg, stove and nut up
to $5 00 a ton, and this figure was thereafter kept un
changed.
The individual operators, as is known, after the close
of the year, that is in January 1903, broke away from
their arrangements with the coal companies, and exact
ed rfs high as $10, $11 and $12 a ton at wholesale. This
gave the retail dealers their opportunity to still further
increase the price to the consuming public, of which
they were not slow to avail themselves. The contrast
between the policy pursued by the coal companies,
who adhered to their determination not to take ad
vantage of public necessities, and the wholly different
policy pursued by the independent operators, was well
indicated in the statement made by an individual
operator at the time these operators cut loose from
the coal companies, namely, that the companies might
sell coal at $5 a ton to the poor, the individual opera
tors would sell at $10 or $12 a ton to the rich. The
present month these operators have again returned to
the fold and are allowing the coal companies to sell
their coal for them at the company price of $5 a ton.

355

Ne w York Central reporting for this one month $838,434 improvement in gross earnings, aB compared with
the same month last year, there seems reason to think
that when the accounts are made up the balance will
be found to be on the right side of the account.
Our statement for the month of January— which
necessarily comprises only the roads that make early
returns of earnings, but 13 days having elapsed since
the close of the month—covers 95,095 miles of road,
and on this basis reveals an increase over the same
month last year on the same roads of over 5 million
dollars, or 9’40 per cent. There are comparatively few
roads recording decreases for any amounts, and only
three roads where the loss exceeds $30,000. General
trade continued extremely active, adding to the vol
ume of the passenger traffic as well as to that of gen
eral freight. At the same time the grain movement
derived from last season's large crops assumed in
creasing proportions, while the cotton movement in
the South also ran somewhat above that for the same
month last year. Then, too, railroad freight rates
were higher in some instances, the railroads having
been obliged to make some advances to offset the in 
crease in wages and higher cost of materials and sup
plies. The weather was very good for a winter
month with few obstructions anywhere. In a word,
nearly all the conditions were favorable to large
totals of earnings.
The January gross has been rising for several suc
cessive years, and the present increase of $5,145,523
therefore comes on top of all these previous gains.
For instance in January 1902 and in January 1901
our tables recorded respectively $4,043,010 and $4,345,501 improvement, and for January 1900 there was
$6,315,720 increase, the extent of road covered in
these years having been much the same as in the
present year. The following table carries the January
comparisons back to 1897.
Mileage.
Tear
Given.
January.
1897 1124 roads).
1898 (186 roads).
1899 (118 roads)
1900 il04 roads).
1901 (102 roads).
1902 104roads).
1908 (75roads).

Tear
Preceding

Miles.
91,113
95,817
93,605
95,643
97,369
95,658
95,095

Miles.
90,550
91,873
92,418
98,427
94,683
94,011
93,137

Gross Bamings.
Tear
Given.
$

33,135,697
40,531,246
42,078,103
48,085,950
65,377,258
57,169,180
69,886,350

Tear
Preceding.
*
25,962,79(
34,640,68
39,423,96.
41,770,8!<
51,031,767
63,128,110
64,740,827

Increase
or
Decrease.
Dec.
Inc.
Inc.
Inc.
Inc.
Inc.
Inc.

t
2,887,193
5,890,615
2,649,109
6,315,7*0
4.345,591
4,043,010
5,145,523

N o t e .—W e do n o t in clu d e the M exica n roads in a n y o f the years.

R A IL R O A D GROSS E A R N IN G S FOR
JANUARY.
In view of the great increase which is taking place
in the operating expenses of United States railroads,
the pronounced gains in gross earnings disclosed in
the reports for the month of January and still more
in those for the first week of February constitute a
peculiarly gratifying feature of the railroad outlook.
All recent reports of the railroads have shown very
decided additions to expenses, and it seems likely that
future returns will be even more noteworthy in that
respect, since (as has previously been pointed out in
these column?) the advances in wages which have been
going on the last few months did not go into effect on
many roads until the first of January. Of course
until the audited returns for the month of January
are received, showing expenses as well as gross earn
ings, it will not be possible to state with entire con
fidence that the gains in earnings, large though they
be, will suffice to offset the augmentation in operating
cost. Nevertheless, when we find a company like the

We have stated that the roads had the benefit of a
larger grain movement. This remark applies to prac
tically all the cereals and also to nearly all the lead
ing points. Of wheat the receipts at the Western
primary markets for the five weeks ending January
31 were 18,832,985 bushels in 1903, against 16,389,647 bushels in the corresponding five weeks of 1902;
of corn 24,063,104 bushels, against 15,408,901 bashele; of oats 18,133,421 bushels, against 12,887,071
bushels; of barley 6,292,270 bushels, against 3,916,293 bushels, and of rye 870,210 bushels, against 650,370. Altogether the receipts of wheat, corn, oats,
barley and rye for the five weeks of January 1903
aggregated 68,191,990 bushels, against only 49,252,282 bushels in 1902. We may add that in the corre
sponding period of 1901 the receipts at these Western
matkets were 63,556,493 bushels, showing that this
year's movement was somewhat larger even than that
of two years ago. The grain movement in detail at
the Western primary markets, in our usual form, is
set out in the following.

356

THE

CHRONICLE

RSOBIPTB OF FLOOR AND GRAIN FOR FITE WEEKS ENDING JAN. 31.

CMeaoo—
641,092
1903.....................
1902...................... 1,076,539
M ilw au kee—

Corn,
(bush.)

W h ea t,
(.bush.)

flo u r ,
(bbls.)

Oats,
(bu sh.)

B a rley,
(bush.)

R ye.
(bush.)

310 374
257,975

2,225,821 10,363,595 10.014,431 2,270,801
2.8 ?0,307
3,688,004 6,644.0,45 1,634,020

120.000
281,200

256,436
233.470

685.610
1,002,400

177,675
201,885

2,080,087
479,700

2,750

401,000
206,946

1,689 000
1,102,977

299,880
460,641

24.F0C
24,000

257,644
113,679

857,718
234 267

866.S93
878,809

74,926
69,647

146,894
164,236

1,269,686
748,117

378,778
732 951

8,578

1*7,825
128,966

90,200
237,300

2.531.050 1,069,100
2,768,816 1,180,300

348,400
227,000

82,700
21,700

886,289
1,914,330

235,120
64,485

134,793
56,818

10,089,510
9,626,070

566 100 1,988,050
003,10J
049,060

911,660
279,890

168,220
63.270

1,302,202 18,531,936 24,063.104 18,133,421 0,292.270
1,736,22t 16,3t9 647 15.408 901 12,887,071 8,910,298

870,210
650,370

C levela n d —

1003 ....................
1902.....................
Peoria 1903.....................
1902.....................
D ilu th -

1903.....................
1902.....................
M inneapolis—

1903 ...................
1903.....................

.........

K ansas C ity—

1903.....................
1902.....................
Total o f all—

750,400 2,01«,850
854,100 1,415.200

857,450
465,300

600/ 00
301,600

2,999,880
2;79L4O0

195.397
£9 000

1,70 0
1,870

3,933,615 2,058.050
2.948,960 2,269,900

2,010,400
475,601

1903.....................
1902.....................

19,400
22,940

1,038,600
668jb00

0 9 4 b u s h e ls in 1902 b u t as a g a in s t 2 5 ,4 4 0 ,1 9 6 b u sh els
in 190 1 , as w ill be seen b y th e ta b le f o llo w in g :
RECEIPTS AT CHICAGO DURING JANUARY.
J a n u a ry.

1901.

1902.

1,910 196
9,318,746
9,117.650
208,074
2,017,404

1909.

2,013,197 2.491.511
3,311,101 11,148,898
5,150,126 9,606,434
217,050
160,033
1,444,620
2,033,170

1899.

1,476,769 2,924,904
9,085,822 13.918,861
7,966,829 7,041,301
220,225
441,526
2,212,998 1,492,450

1898.
1,000,844
8,061,784
7,882,595
241,950
1,519,512

T otal grain 28,037,909 12,130,094 26,440,190 80,971,137 25,809,002 18.742,685
Flour ..b bls.
662,055
938,493 1,018,145 1,170,516
707,674
812,039
Pork... .bbls.
413
884
140
434
10
867
C u tm ’ts.lbs. 14,480,290 8,750,788 14,170,862 17,041,005 16,001,380 19,349,797
Lard.......lbs.
3,001,005 6,715,468 0,600,303 5,387,380 8,295,644 0,808,370
L iv e hogsNo
887,603
947,893
870,610
880,693
810,279
767,245

As som ew h at o f

an o ffs e t t o th e la r g e r g r a in m o v e 

m e n t , th e liv e -s t o c k m o v e m e n t w as s m a lle r at so m e o f
th e W e s t e r n p o in ts .

F o r in s ta n c e it a p p ea rs f r o m th e

f o r e g o i n g t a b le th a t at C h ic a g o
w e re o n ly 8 8 7 ,6 0 8 h e a d in
in 1902.
A s regards th e c o tto n
at th e

r e c e ip ts o f liv e h o g s

1903 a g a in st 9 4 7 ,8 9 3 h e a d

in J a n u a r y 1903

190 2 a n d 7 1 4 ,7 8 2 b a le s in J a n u a r y 1 90 1.

I t w ill b e

o b s e r v e d , h o w e v e r , th a t th e r e w as a la r g e loss a t N e w
It

s h o u ld

be n oted

fu r th e r m o r e th a t th e

s h ip m e n ts o v e r la n d w ere a lso lees th a n la st y e a r, b e in g
o n ly 2 6 2 ,4 5 2 b a les in J a n u a r y 1903
b a le s in 1902.

a g a in st 2 9 7 ,1 1 8

RECEIPTS OP COTTON AT SOUTHERN PORTS IN JANUARY, 1903, 1902
1901, 1 9 0 0 , 1899 AND 1898.
January.

P o r ts .

1903
G alveston .- .......... bales
Sabine Pass A o...........
Hew O rleans......................
M obile.................................
Pensacola. A c...................

Savannah................ ........
Brunswick, A c ...............
Charleston.........................
P ort Royal, A c ...............
W ilm ington.......................
W ashington, A o ...........
N orfolk...............................
New port News, A c ..........
T o ta l.......... .................

1902.

1901.

1900.

1890.

1898.

270.485
21,788
294,723
31,835
80,723
162,012
17,663
23.984
25,609
71
76.779
2,816

244.600
2,886
849,764
15,558
40,411
130,333
14,724
27,253
62
20.423
48
02,711
8,780

243,160
10,006
249,828
8,938
23,298
100,588
14,332
13,912
148
14,05?
43
34,OS"
1,530

153,110
24,013
247,842
34,419
23,503
119,721
18,022
21,903
26
24,197
71
49,394
7,300

218,054
14,862
284,086
29 00*
31,676
107,303
44,474
21,992
3,530
12,605
134
57,720
1,344

220,884
10,159
453,894
01.555
81,614
103,716
88,920
41,846
1,298
17,120
100
48,526
2,690

958.391

918.558

714.782

722 5?6

828.870 1.080 393

.........

W it h r e fe r e n c e t o th e se p a ra te r o a d s , w e h a v e a l
re a d y r e fe r r e d t o
th e

N ew

Y ork

th e g a in o f $ 8 3 8 ,4 3 4 r e p o r t e d b y
C e n tr a l.

In

th e

M is s o u r i P a c ific has a d d e d $ 5 4 4 ,2 6 5
to ta l.

In

and

th e

S o u th e r n

t r u n k lin e s

th e N o r th w e s t th e

S o u th w e s t

th e

to its la st y e a r's

C a n a d ia n

R a ilw a y

a n d in th e

In

th e

S o u t h th e

$ 1 5 1 ,2 8 1 .

A m ong

th e

M id d le W e s t w e h a v e s u c h

roads as th e G ra n d T r u n k

w ith $ 3 5 5 ,2 2 2 g a in a n d t h e

Illin o is C e n tra l w ith $ 2 6 5 ,6 2 9 .

T h e fo llo w in g

in d i-

d ica te s a ll c h a n g e s , w h e th e r g a in s o r lo sses, o n th e
sepa ra te roa d s fo r $ 3 0 ,0 0 0 o r o v e r .

A s a lr e a d y s ta te d ,

T h e s e tw o ro a d s

are th e

S t. L o u is S o u t h 

T exas

P a c ific has

&

P a c ific

and

th e

w estern .
PRINCIPAL OHANGIB IN G R O S S EARNINGS IN J A N U A R Y .
Increases.

N. Y. Central..............
Mo. P ro. & Iron Mt. )
Central Branon... 5
Canadian Pacific........
Gr. Trunk 8ys. (3 r’ ds)
Louisville & Nashville
Norfolk & Western___
Illinois Central...........
Northern Paoiflo........
Chesapeake & Ohio..
Gt. North. 8ya.(2r’ds).
St. L. & 8an Fran.. . )
Chic. A East. 111... \
Southern R ailw ay___
Olev. Cln. Chio. & St. L.
Nash. Chat. & St. Lonis
Mo.Kane. & Texas...
Buff. Rooh. & Pitts_
_
Minn. 8t. P. & 8. Ste. M.
Mobile A Ohio.............
Central of Georgia....

$338,434
544,265
525,208
3 55.222
294,694
263,096
265,629
245,198
202,158
193,296
2/166,630
151,231
117,788
113,485
92,313
78,882
75,728
72,440
61,075

In tern a t’l A Gt. N o r .. *
C olorad o A S ou th ern.
T ol. St. L. A W estern .
W heeling A L. E r ie ....
Seaboard A ir L in e ___
P eoria A E a stern ........
K an. C ity S ou th ern . . .
W lsoonsln C en tra l___
Chio. In d ’s & L o u is v ..

$47,946
47,626
44,710
44,323
34,974
34.760
3 4,414
32,063
30,432

T o ta l (represen ting
33 r o a d s )................ $5,013,070
D ecreases.

T exas A P acific .........
8t. L ou is S ou th w est.. .
Minn. A St. L o u is .......

$57,623
45,908
33,906

T o ta l (rep resen tin g
3 ro a d s)...................

$137,437

y These figures are fo r three w eek s o n ly .

To

c o m p le t e

our

a n a ly sis

we add

th e

f o llo w in g

ta b u la tio n s g iv in g th e e a r n in g s f o r th e la st s ix y e a rs
o f le a d in g

ro a d s, a r r a n g e d

th e ir lo o a t io n .

As

in

s h o w in g

grou ps

how

a c c o r d lh g t o

d e c id e d ly

u pw ard

th e t r e n d has b e e n d u r in g

th is p e r io d , w e

th a t t h e g r o s s e a r n in g s o f

th e N e w Y o r k C e n tra l f o r

m ay n ote

J a n u a r y 1903 a t $ 6 ,2 3 9 ,4 4 1 c o m p a r e w ith o n ly $ 5 ,1 8 2 ,978

in J a n u a r y 1901 w h e n t h e B o s t o n & A lb a n y w as

in c lu d e d t h e sa m e as in
b u t $ 3 ,5 5 7 ,2 8 3 in 189 8

th e

p r e s e n t y e a r, a n d w ith

w h e n th e

B o sto n

&

A lb a n y

was n o t in c lu d e d .
EARNINGS OF MIDDLE AND MIDDLE WESTERN ROAD8.
J an u ary.

S o u th e r n o u t p o r ts

$ 1 9 3 ,2 9 6 .

L o u is v ille & N a s h v ille sh ow s $ 2 9 4 ,6 9 4 im p r o v e m e n t

m o v e m e n t at th e S o u t h th e

w e re 9 5 8 ,3 9 1 b a le s, a g a in s t 9 1 8 ,5 5 8 b a les in J a n u a r y

O rle a n s.

N orth ern

g ra in h a rv e st la st sea son w as p o o r .

p r e s e n t y e a r w e re 2 2 ,6 3 7 ,9 6 9 b u s h e ls , a g a in st 1 2 ,1 3 6 ,-

1903.

G re a t

T w o o f th ese are s u p p lie d b y T e x a s r o a d s , w h e r e th e

A t C h ic a g o w e h a v e th e fig u re s f o r th e e v e n m o n t h

r e c e ip t s

th e

th e re are o n ly th r e e losses in e x ce s s o f th a t a m o u n t .

a n d th e s e s h o w at t h a t p o in t th e g r a in r e c e ip t s th e

W heat bush.
C orn... bush.
O ats...ba sh .
R ye ...bu sh .
Barley.bnsh.

$52 5 ,2 0 8 in crea se, th e N o r t h e r n P a c ific $ 2 4 5 ,1 9 8 a n d

24,149
14,885

1903.....................
1902.....................
flt. L ou ie—
1903.....................
1903.....................
ToUdo—
1903.....................
1902....................
D etroit —
1903.....................
1902.....................

[VOL. LXXVI,

1903.

1902.

1901.

1909.

1899.

1898.

Ann A rb o r.............
Buff.Roch. A Pltte
Chlo.Ind.A Louisv.
Evansv.A Terre H
Hocking V a lley ...
Illinois Central t .
Pere M arqnette...
St. L. Van. A T. H.
Tol. A Ohio Cent.
Tol. P eo. A W est.
Tol. St. L. A W est.
W keel. A L. Erie.
Clev. Can. A So.

$
t
I
*
*
I
158,433
164,032
143,211
124,207
149,218
142,135
479,514
886,749
657,386
297,906
403,736
283,199
332,619
300,159
329,727
244,100
318,512
226,353
112,712
110,606
101,934
95,466
127,488
115,668
861,393
420,256
407,52.
229,48.
209.883
380,841
3,759,183 3,493,664 3,220,47£ 2,012,371 2,423,792 2,276,720
710,369
734,994
696,332
513,710 +453,828
683,896
176,144
146,609
196,501
153,297
ie2,24i
133,711
220,738
202,120
244,850
138,529
200,397
147,712
90,318
86,864
105,506
96,217
80,800
75,691
257,498
212,788
144,220
210,035
148,794
140,574
227,084
166,241 < 122,948
235,021
| 311,000
207,28£
( 53,193

T o ta l.................

7,235,036 0,680,671 6,238,003 5,056.S8O 4,016,238 4,336,408

t T hese figures are simply the totals o f the Chicago A W est M ichigan, D e
troit Grand Rapids & W estern and Flint A Pere M arquette com bined.
X Results on Y azoo Branch are not Included after 1897.
EARNINGS OF SOUTHERN GROUP.
J a n u a ry.

Alabama G t. So.l
Cent, o f G eorgia..
Ohesap. A O hio...
Oln.N.O. A T e x .P .
Louisv. A Nashv..
Mobile A O hio—
Nash.Chat.A St.L.
Norfolk A W est..
Southern R y ... >
St. Louis D lv. )
Yazoo AM iss.Val.

1903

1902.

1901.

1900.

1899.

1898.

*
»
*
182.804
165,289
158.636
550,826
509,214
622,698
1,101,250
924,410
954,353
430,541
850,716
332,836
2,392,308 1,9*8,687 1 807,834
+542,941 +408,800
378,134
•044,838
615,088
462,072
1,201,365
981,605
916,747
<2,631,926 2,266,908 1,852,630
3,436,090 3,283,809 3,084,187
117,219
119.884
( 149,648
600,662
487,988
008,794
449,004
688,314
046,101

1
*
t
200,015
0220,264
230,374
071,286
823,518
702,443
1,542,004 1,839,816 1,228,200
410,733
0472,109
458,589
63,019,450 62,724,756 62,501,637
+e53,O50 +581,616 +595,076
*813,018 *700,133 *710,076
1,727,780 1,469,634 1,306,917

T o t a l............... 13,376 733 12,178,564 11,420,187 10,179,445 8,585.024 7.973,666
* Includes Paducah A Memphis D ivision In these years.
+ Includes M ontgom ery Division for 1903, 1902, 1901, and 1900.
6 Freight on material carried for com pany’s own use Is no longer credited to
earnings, the item havtng been elim inated from both earnings and e x p e n s e s .
The figures for 1903,1902 and 1901 are given on this ba*ls.
g Figures for fourth week not yet reported; taken same as last year.

THE CHRONICLE

F ebruary 14, 1908.]

Gross E arnings.

EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP.
[
1899.
1901.
1800.
January.
19C3.
1902.
1898.
*
1
3,147,000 2,021,792
697,756
818,720
197,279
192,158
2,718.486 2,535,140
244,041
210,38?
225,837
269,543
305,472
441,200

Canadian Paoifle.
Ohio. Gt. W est—
Duluth S.8 .& Atl.
Great Northern...
Iowa Central......
Mlnn.& St. Louis.
M .S t.P .& S .S .M .
North. Paolflc.b>
8 t.P a u l* Dul. $
Wisconsin Cent’l.

357

Nam e o f Road.

Mileage.

1903.

Increase oi
Decrease.

9

%
t
%
t
2,034,011 2,152,071 1,804.57( 1,672,372
448,44!
622,937
309,238
531,738
167.147
152,066
152,261
114,128
1,927.949 1,984,99? 1,651.233 1,368,414
177,333
162.80E
228,60!
133,729
197,552
172,781
140,612
200,772
301,491
837,686
227,271
263,083
2,013,189 1,632.378 1,620,520
2,378,489 (
114,407
99,265
108,102
854,22*
354,956
389,326
410,906

1902.
9

9

N.Y.Cen.&Hud.Riv.* 6,239,441 5,401,007 I +838,434
Norfolk & Western... 1,727,780 1,459,684 + 268,096
_ 3,276.776 3,031,578 +245,198
Northern Paolflc II_
746.369
+ 11,375
Pere Marquette........
734,99 *
Rto Grande South’n.
40,393
43,492
—3,039
8t. Louis & S. Fran. > 2/1,773,702 y 1,612,072 +166,630 j
Chic & E. Illinois (
8t. Lonie Southwes’n
-4 5 ,9 0 610,566
594.658
+20,417
St. L. Van. & T. H .!.
195.561
175,144
8,276,778 3.031,578
San Fran. <eNo. Pac.
f
84,128
75,659
+ 8,469
Seaboard Air Line... 1,019,717
984,743
+34,974
424,237
458,800
47,797
Southern Indiana___
72,493
+24.696
+ 151,281
T o ta l............... 11,307,725 10,271,714 8,242,125 8,049,272 0,770,083 0,045,203 Southern Railway.... 3,435,090 3,283,809
T.Haute & Indianap.
147,973
158,909
+ 10,936
T. Haute & Peoria...
43,909
51,533
+7,624
b Includes proprietary lines I d a l l the years.
Texas Central...........
57,159
54,897
+ 2,262
Texas & Paolflc........ 1,007,127 1,064,750
EARNINGS OF TRUNK LINES.
—57,623
12,294
Tex. Sab.Val. & N.W.
14,000
+ 1,706
+24,112
Tol. & Ohio Central.
244,850
220,738
1899.
1898.
January.
1908.
1900.
1902.
1901.
Tol. Peoria & West’n.
105,503
96,313
+9,193
257,493
Tol. St. L. & West_
_
212,783
+44,710
$
$
$
$
*
$
41,380
Toron. Ham. & Buff..
34,405
+ 0,975
Bal. & O ... %
C3,997,227 3,650,011 j 2,199,544 2,070,430 Union Pacific.......... *2,244,460 *2,254,849
—9,889
1 523,043
605,048 Wabash....................... 1,672,456 1,660,213
B.& O.S.W > M0O2O37 4,003,087
+ 12,243
298,702
t 299,004
226,701
188,393 Wheel. & Lake Erie..
Pltts.&W. 1
311,606
267,283
+44,323
456,300
4 24,237
+32,063
1,350,810 1,301,189 1,041,832 1,098,673 Wisconsin Central...
C.C.C.&StL
1,517,881
1,429,590
663,794
638,314
+25,480
147,010 Yazoo & Miss. V al...
208,973
145,055
219,010
'Peo.&East
237,451
202,091

Total.

..

1,534,928
360,395
71,052
3,789,801
1,138,488

1,560,998
294,016
70,079
8,557,2-3
941,758

13,168,252 11,020,497

10,425,075

f 1,801,016
2,278,978 < 342,121
t
81,759
6,401,007 6,182,978
1,080,213 1,518,060

G .T .of Can. )
Gr.T.West > 2,034,200
D.G.H.&M )
N.V.C.&H-t 0,239,441
W abash....
1,872,450

10,933,019 15,674,572 14,793,847

1,742,730
424,854
70,892
4,250,819
1,814,582

+ Boston & Albany included In 1901. 1902 and 1901; the Beecb Creek R R .
and the Wallkili Valley R R . fo r all the years, and the Fall Brook system
after 1899.
k Figures for 1903 not reported; taken same as previous year.
EARNINGS OF SOUTHWESTERN GROUP.
January.

1903.

1801,

1902.

8

*

D en.4R.G r. >
1,841,700 1,310,200
R. Gr. W.. 1
In t.4 Gt, No..
479,959
431,018
Mo. K. 4 Tex.
1,403,336 1,811,028
M 0.P.4Ir.Mt.
3,458,091 2,914.420
St. L. & S. Fr.
K.C.F.S.4M.
K .C .M .& B . [■41778702 fcl.012,072
F .W .4R . Gr.
Chlc.& E. 111. )
8 t.L. Southw.
594,659
040,566
Texas & Pao.
1,007,127 1,064,750
Total...........

10,094,17:-

9,315,050

1900.

1899.

1898.

t
8
1
832,414
< 840,276
727,750
833,344
i 848,761
372,358
453,940
378,544 385,602
1,853,850 3,012,019 1,007,628
2,929,477 2,522,850 2,187,407
( 051,140
004,<-70
f
j 404,772
380,876
1
- 1,700 547 ! 156,745 131,837
J
|
I
33,221
43,787
(. 523,039
470,817
398,284
677,712
592,882
502,554
1,073,510
786,629
718,119

*
044,027
231.583
331,295
1,024,492
2,205,081
524,«12
401,099
139,405
41,063
350,474
478,494
714,715

8,183,843 7,274,124

7,094,945

9,907,118

k Figures are for three weeks; fourth week not yet reported.

Gross E arnings.
Nam e o f Road.

1903.
Alabama Gt.South’n.
Ala.N.O.&Tex.Pac.--N. Orl. & No. East..
Ala. <e Vicksb........
f
Vloksb. Shr.&Pao..
Ann Arbor.................
Atlanta Knoxv.&No.
Buff. Roch. & Pittsb..
Canadian Paolflc......
Central of Georgia..
Chattan. Southern...
Chesapeake & Ohio..
Chic. Great Western.
Chle. Ind. & Louisv..
Ohio. Term. Tr. RR..
Cin. N.O. & Tex.Pao..
Olev. Cin.Ch.&St. L ..
Peoria & Eastern..
Colorado & Southern.
Deny. < Rio Gran.. >
&
Rio Grande West. 5
Detroit Southern....
Dal. So. Shore & Atl..
Evansv. d Indianap.
c
Evansv. & T. Haute..
Gr. Trunk of Can... )
Gr. Trunk West.. >
Det.Gr.Hav.&M.)
Great Northern— )
Eastern of Minn. 5
Montana Central..
Hooking Valley........
Illinois Central........ .
Illinois Southern......
Internat’l & Gt. No..
Iowa Central.............
Iron Railway...........
Kanawha & Mloh....
Kansas City South’n.
Lonlsv. & Nashville..
Macon & Birming’m.
Manlstlaue................
Mineral Range.,.......
Minn. & St. Louis___
Minn.St.P.A S.Ste.M,
Mo. Kan. & Tex.........
Mo. Pac. & Iron Mt..
Central Branoh___
Mobile Jack. & K. C.
Mobile & Ohio...........
Nash. Chat. <e St. L. t
t

»
yl35,420

1902.
9

2/139,540

Mileage.

Increase or
Decrease. 1903.

*
—4,120

309

1902.
309

213,046
184,642
106,135
97,151
115,469
102,243
149,218
153,433
54,680
58,263
557,396
478,514
3,147,000 2,821,792
823,518
762,443
10,228
7,306
1,542,004 1,339,846
618,729
597,755
360,159
329,727
142,350
131,632
2/298,968 2/285,388
1,547,384 1,429,596
237,451
202,691
500,083
452,457
1,341,700 1,340,200
121,740
111,542
197,279
192,156
27,641
29,461
127,438
116,666

195
14S
189
292
250
472
7,590
1,845
+ 2 ,9 2 i
105
+ 202,158 1,636
+20,974
929
+30,432
546
108
+ 8,718
+ 13,580
336
+ 117,788 1,891
+34,760
352
+47,626 1,121
+ 1,500 2,433
381
+10,198
574
+ 5,123
146
—1.8 20
162
+10,772

2,634,200

+355,222

4,085 4,082

+131,378
+61,918
+ 12,734
+265,629
+ 924
+47,946
-27,673
+ 1,630
+ 10,654
+ 34,414
+294,6941
—1,0001
-3 ,2 0 7 j
+ 2,949
—33,906
+75,728
+92.313
+ 519,654
+ 24,611
4-9,716
+72.440
+ 113.485

5,258
260
347
4,284
96
1,006
558
20
177
839
3,441
97
64
127
642
1,452
2,602
5,263
388
98
874
1,195

2,278,978

2,538,326 2,406,948
190,110
128,192
420,256
407,522
3.759,183 3,493,554
11,574
10,650
479,959
432,013
216,368
244,041
8,755
7.125
102,701
92,0 47
548,698
514,284
3,019,450 2,724,756
11,509
12,509
5,960
9,167
45,329
42,380
225.637
259,543
441,200
365,472
1,401,336 1,311,023
3.361,860 2,842.206
96,831
72,220
1125,717
1116,001
653,056
580 616
813.618
700,133

+28,404
f 8.984
+ 13,226
-4 ,5 1 5
—3.583
+78,882
+525,208
+61,075

19C2.

3,320 1 3,320
1,710 1,675
5,394 5,302
1,779 1,779
180
180
3,584 3,202
738
727
1,293 1,293
158
158
165
185
2,607 2,604
154
154
7,114 6,920
80
80
174
174
236
225
1,848 1,710
40
40
436
436
248
248
451
451
88
88
3,033 3,033
2,484 2.367
469
469
977
977
1,162 1,099

Total (75 roads)..... 59,886,350 54,740,827 +5,145,523 95,035 93,137
Mexican Roads— (Not Inolu ded In tota is.)
+53,395
Interooeanio (Mex.).. <*361,100 <*307,705
Mexican Centralt_
_ 2.0L9.148 1,613,361 + 405,787
+ 21,400
Mexican Railway_
_ <*410,100 <*394.700
y48.431
2/53,800
Mexioan Southern...
+5,369
767,006
Nat’l RR. of Mexico..
050,2771 + 116,729

555
555
2,685 2,135
321
321
263
263
1,396 1,323

* Boston and Albany Included In both years, t Results on Monterey
& Mexican Gulf are Included In 1902.
t Inoludes Paducah & Mem
phis Division in both years.
I Figures are for five weeks endlne January 31,1903.
T
y Figures here given are for three weeks only of the month In both
years, the fourth week not yet reported.
UIncludes proprietary roads In both years.
^Figures do not Include Oregon Short Line or Oregon RR & Navi
gation Oo.
a Figures here given are for four weeks to Jan. 34.

ITEMS A B O U T BANK8 BANKERS AND T R U S T C O ’8
—The auction sales of bank stocks this week aggregate 94
shares. The transactions in trustfcompany stocks reach a
total of 125 shares. No tales of either class have been ma5e
at the Stock Exchange. Included in the auction dealings is
a lot of 25 shares of Liberty National Bank stock (sold at
600), the last previous sale of which was made in November
1899 at 325J^. No sales of bank or trust company shares
have been made in the “ curb” market.
Shares.

GROSS EARNINGS AND MILEAGE IN JANUARY.

1903

B a n k s —New Y ork.

10 America, Bank of.............
10 Commerce, Nat. Bank of..
25 Liberty National Bank__
39 Mercantile National Bank
5 Mutual Bank ....................
5 Northern National Bank..
T r u s t C o m p a n ie s —N ew l o r k .

P rice.

551
324ifl
600
347
805 H
170is

25 Central Realty B. & T. Co....... 601
25 Guardian Trust Co................... 200
15 N. Y. Security & Trust Co...... 1399
50 North Amerioan Trugt C o ..., 310
10 U. 8. Mortgage & Trust Co___ 499

L a st previous ta le ,

Dec.
Jan.
Nov.
Jan.
Jan.
July

1902—
1903 —
18991903—
1903—
1902—

558i«
325
325ia
350
305*4
175

Feb.
Feb.
Aug.
Jan.
Feb.

1903— C O
O
1903— 200
1 9 0 2 - 1399
1903— 325
1 9 0 3 - 500

195
143
189
—la the advertisement of the National Park Bank of this
292
city , w hich appeared in the num ber o f our B a n k a n d Q uo 
250
472 tat io n S u pp lem en t issued last Saturday, the deposits of
7,590
1,845 that institution were, through a typographical error, re
105
1,561 ported as $7,000,000 instead of $70,000,000. As the Park
929 Bank ranks among the largest of our city banks, we should
546
108 not have thought of referring to such a palpable error, ex
336
1,891 cept that the officials of the institution have received quite
352 a large number of humorous letters concerning the alleged
1,145
“ shrinkage” in their deposits—so eloquently testified to by
2,390
their own advertisement. Under the circumstances we fee.
381
574 it incumbent to say that the compositor alone is at fault—
146
162 that no clerk of the institution, through fatigue in recording

4,985
260
347
4,284
96
887
543)
20
177
839
3,328
97
64
127
64 2
1,355
2,480
5,182
388
98
874
1,195

the growing business of the National Park Bank, failed to
set down one of the figures in the total. We may add that
the deposits, according to the statement to the Comptrol
ler on February 6, were $75,655,706.
—Mr. Charles H, Hackett, of Messrs. Hackett, Carhart &
Co., has been elected President of the Bank of the Metropolis
at 29 Union Square. Mr. Hackett since early in December
had been Vice-President, and in his new office replaces Mr.
Theodore Rogers, for whom the position of Chairman of the
board of directors has been created.
—Mr. Edwin Hawley was on Wednesday elected to the
board of the Guaranty Trust Company of this city, to suc
ceed the late Samuel D. Batcook.
—Mr. Robert B. Armstrong’s appointment as Assistant Sec
retary of the United States Treasury has been confirmed.
He will enter upon bis new duties after March 4.

358

1HS4

C H R O N IC L E .

[V ol. LXXVI.

—The Mechanics’ & Traders’ Bank, this city, is preparing redemptions for suoh non-member; suoh suspension to take effeot
to open a branch at the southeast corner of 46th Street and upon the completion of the exohanges of the morning following the
giving of notice of such suspension by the Manager to the members of
Broadway. The bank already operates a branch at 59tb the Association.
Street and Madison Avenue.
Nothing contained In Section 25 of the Constitution or in the Amend
—“ Government Bonds” is the theme and the title of a ments thereto shall be oonstrued as making a bank, Institution or
other party sending its exchanges through a member. In any sense or
bcok just issued by the National City Bank of this city. The to any extent a member of this Association.
took is attractively bound and well printed and its contents
—The directors of the New York National Exchange Bank
should appeal to bank officials and investors generally, for
of this city on the 6th inst. appointed Messrs. Frank M.
whose benefit the information has, been brought tcg<ther.
Burger and David H. G. Penny Assistant Cashiers.
Dttailed data : egarding Government 'bonds of all issues is
—The directors of the Van Norden Trnst Company of this
given, together with information concerning interest periods,
amounts outstanding, opening and closing’of transfer books, city on the 29th nit. re elected Mr. Warner M. Van Norden
and range of both prices and investment values. The rela President and William F. Havemeyer and Morton C. Nichols
tive value of the various issues of bonds as a basis for circn as Vice Presidents; Arthur K. Wood, formerly Assistant
lation or for public deposits is shown in typical calculations Secretary, was made Secretary and Treasurer: while William
made by the Actuary of the United®;States Treasury under W . Robinson and James B. Haig Jr. were both elected
date of January 1 1903. In addition a complete telegraphic Assistant Treasurers of the company. Mr. Robinson ad
cede for use in bond transactions is also given. The bank vances from the position of Receiving Teller and Mr. Haig
from Chief Clerk. Mr. Edward S. Avery was re-elected
o w e s large amounts of all issues of Government bonds, and
is always in readiness to execute orders for the purchase or Trnst Officer.
sale of the same. It announces that it will look after all
details in Washington in regard to their (the bonds) deposit,
substitution, withdrawal or redemption wiibout charge for
commission. The book is worth having and we advise the
reader to write fer a copy.
—The following amendments to the Constitution of the
New York Clearing House Association, offered at a meeting
of the Association held February 4 1903, were unanimously
adopted at a meeting held February 11 1903. Some editorial
comments on the action with reference to requiring the trust
companies to maintain reserves will be found in cur article
on the Financial Situation.
R e s o l v e d , that Section 19 of the Constitution of the New York
Clearing House Association, as amended April 26 1882, be farther
amended by the adoption of the following resolution:
R e s o l v e d , that the Clearing House Committee shall not refer to the
Committee on Admissions, under this seclion, any application for ad.
mlfslon into the association by aDy bank unless the amount of Its unim
paired <apltal and surplus shall equal at least the amount of $500,000.
R e s o l v e d , That the amendments to Seotion 25 of the Constitution
of the New York Clearing House Association as to the making of ex
changes through the Clearing House for non members, adopted Oot.
14 1890 and Deo. 21 1896, be supplemented by the following addi
tional amendment, to take effect Immediately, n am elj: “ The New
York Clearing House Association permits Its members after March
1 1903 to make exchanges through the Clearing House for banks or
other Institutions not members o f ’ the association only upon the fol
lowing terms:
1. No member of the Association shall make exchanges through the
Clearing House for any bank or other institution whose exchanges
have not heretofore been so made through a member, unless the same
shall have been actually doing business for at least one year, nor
until the making of suoh exchanges by a member shall have been a p 
proved by the Clearing House Committee after an examination o f
such bank or institution made by the Clearing House Committee, or
by some other committee of the Association duly appointed for that
purpose.
The consent of the Clearing House Committee shall also be neoes
sary to the transfer of the making of the exchanges for a non-member
by one member to another member.
2. On and after January 1 1004 every non-member bank or instl.
tution now or hereafter sending Its exohanges through a member of
the Association shall pay to the Association the amount of $1,000 an
nually In advance.
3. Every non-member bank or institution now or hereafter sending
Its exohanges through a member of the association shall submit,
whenever required by the Clearing House Committee, to the same ex
animations as are now required of members of the Association.
4. Every non-member bank or institution now or hereafter sending
its exchanges through a member of the association shall furnish to
the Manager of the Clearing House, at the close of business on each
Friday, a weekly statement of Its condition In suoh fo r m a s shall be
prescribed by the Clearing House Committee from time to time as to
any class of non-members.
5. Every non member Institution (not a bank required by law to
maintain a specified reserve) now or hereafter sending its exchanges
through a member of the Association, shall on and after June 1
1903 keep in Its vaults a cash reserve equal to live per centum of Its
deposits; and on and after February 1 1904 suoh cash reserve shall
be at least seven and one-half per oentum of its deposits, and en and
after June 1 1904 such cash reserve shall be such percentage as sha'i
from time to time be lixed by the Clearing House Committee, but not
lees than ten nor more than fifteen per centnm of Its deposits. The
reserve hereby required shall be an average reserve as against the
average deposits as shown upon Its weekly statements.
If any non-member bank or Institution or party now or hereafter
sending its exohanges through a member of the Association shall fall
to comply with any of the foregoing requirements applicable to suoh
non member, or upon examination shall be found In an unsatisfactory
condition, the Clearing House Committee may suspend any privilege
previously given to members of the Association to make exohanges or

—The National Shoe & Leather bank of this city has
i:sued a comparative statement showing the standing of the
institution at the dates of the various calls of the Comp
troller of the Currency since July 18 1902. The deposits at
the date named were only $5,199,721, while for Feb. 6 1903
they are $7,374,645, a gain of $2,174,924 in less than seven
months. The resources have correspondingly increased, ris
ing from $6 525,080 to $8,747,620. This is a creditable record
for Mr. William L. Moyer, the new President. Associated
with Mr. Moyer is Mr John M. Crane, Vice-President; Mr.
John A. Hiltner, Vice-President and Cashier, and Mr. Gilbert
B. Sayres, Assistant Cashier.
—The Knickerbocker Trnst Company of this city, which
recently purchased the Washington Bank at 148th Street and
3rd Avenue (capital $100,000), has made application to
liquidate the bank’s affairp. Hereafter the bank will be
known as the Bronx Branch of the Knickerbocker Trust
Company.
—The reports in several New Jersey papers during the past
week regarding the merger of the People’s Bank & Trust Co.
of Passaic with the North American Trust Co. of New Jersey
seem to be quite far astray. The facts of the case appear to
be as follows: The North American Trust Company of
N. J., which is an entirely separate institution from the
North American Trnst Co. of New York, made a proposal to
the directors of the People’s Bank, to take the control of the
bank providing certain privileges were granted them. We
understand the proposition has not as yet been acted upon;
in any case the matter does not concern the North American
Trnst Co. of New York.
—The directors of the North American Trust Company of
New York at a meeting held on Tuesday of this week elected
the following officers for the ensuing year: Mr. Oakleigh
Thorne, President; Messrs. Heman Dowd, William H.
Chesebrongh and G. M. Wynkocp, Vice-Presidents; Mr. S.
D. Scnddtr, Treasurer; Mr. F. L. Hilton, Secretary;
Messrs. F. C. Prest and Carleton Bunce, Assistant Secreta
ries; Mr. F. W . Black, Auditor, and Mr. James R. Burnet,
Tiust Officer. The rapid rise of Mr Wynkoop with this
very prominent institution is quite noteworthy for so young
a man. He entered the tmployof the company as paying
teller in 1898; in 1900 he was appointed Treasurer of the
North American Trust Co. of N. J., an auxiliary concern,
and on June 1 1902 was made S9cretary of the parent com
pany, while now he has been appointed one of the VicePresidents. The new Secretary, Mr. Hilton, has been ad
vanced from paying teller.
— Lewis, Epps & Company is the style of a new firm, with
offices at 51 Liberty Street, formed to deal in inactive and
unlisted securities, especially bank, trust company and in
surance stocks. Samuel R. Lewis, formerly with the Han
over Bank; Duncan F. Lewis, formerly with Gilbert, Lewis
& Gilmore, and Edward E, Epps, formerly with the North
American Trust Co., compose the firm.
—Two new directors were this week elected to the board
of the Greenville Banking & Trust Company of Jersey City
to fill vacancies. The new members are Mr. Riohard L. Ed
wards, President of the National Bank of North America in
New York and Mr. Alvah Trowbridge of the Registration
& Trust Company of this city.

F e b r u a r y 14, 1903.]

THE

C H R O N IC L E

359

—The United States Supreme Court on the 2d inat. re
versed the decision of the Supreme Court of Iowa in the case
of Easton vs. the State of Iowa. Easton had been sentenced
to imprisonment by the State law for accepting, as President
of a.bank, a deposit of $100, when he knew his institution to
be insolvent. Judge Shiras of the Sunreme Court held that
State laws for the regulation of State banks do not extend to
banks incorporated under an Act of Congress.
—At the recent meeting of the board of the Boonton
National Bank of Boonton, N. J., Mr. Monroe Howell was
chosen President, to succeed Mr. John H. Capstick. Mr.
Nathan L Briggs was elected Vice-President, in place of
Mr. John S. Schultze, and Mr. Elwin A. Fisher was ap
pointed Cashier to succeed Mr. Melvin S. Condit. The bank
opened a savings department on the 2d iust., and will pay
8 per cent per annum on all sums of $5 and over deposited
therein.

—It is announced that arrangements have been made for
the purchase of the Second National Bank of Fall River,
Mass., by the Metacomet National Bank of the same city.
The stockholders of the Second National, as reported in
our issue of January 24, decided at their annual meeting
not to renew the charter at the date of expiration, February
24, and the bank consequently intended to go into liquida
tion in March.
—The consolidation of the Cleveland Savings & Banking
Company and the Central Trust Company of Cleveland, re
ferred to in these columns last week, having been formally
ratified by the stockholders, went into effect on the 2d inst.

—The National State Bank of Troy, N. Y., which during
its entire fifty years of existence has remained in the one
locality at the southeast corner of First and State streets, has
acquired a portion of the site occupied by the Fulton Market
Building, and is now making plans for the erection of a new
structure, The old quarters have been outgrown and the
future enlargement of the bank’s business will be provided
for in a building in which will be incorporated every modern
facility. The property comprises somewhat over 40 feet on
River Street and 100 feet on Fulton Street. Tne bank is
under the management of Mr. Julius S. Hawley, President;
R. Edson Starks, Vice-President; and Henry Colvin, Cashier.

—The negotiations which have been pending f or the con
solidation of the Central National and the Coal & Iron
National Bank of Cleveland are now expected to be consum
mated within a very short time. Tne intention is to liqui
date the banks and to organize a new bank under a new
name to take over their assets. This combination will couple
two of the stronger institutions of the city, the Central
having a capital of $800,000 and deposits of over $4,000,000,
and the Coal & Iron a capital of $1,000,000 and deposits of
about $2,400,000. The new institution will have a capital of
$1,200,000 and a surplus of $600,000. Col. J. J. Sullivan, who
has been President of the Central since its organization in
1890, will, it is understood, hold the same position in the
proposed bank.
—The Dollar Savings & Trust Company and the People’s
Savings & Banking Company of Youngstown, Ohio, are now
one, the details of the union of the two having been com
pleted on the 3rd inst. The business of these institutions,
which is to be continued under the name of the Dollar Savings
& Trust Company, will, beginning on Monday, be conducted
in the new banking rooms just completed, on Public Square.
Mr. John 1. Williams, for many years President of the Dollar
Savings & Trust, has retired, his successor being Mr. A. E.
Adams. The other officials are: Vice-Presidents, John C.
Wick and H. M, Garlick ; Treasurer, K. P. Hartshorn ; Sec
retary, E. Mason Wick ; Assistant Secretary, E. W . Ritchie
and Assistant Treasurer, Paul H. McElevey. As stated in
our issue of January 17, the bank has increased its authorized
capital to $1,000,000.

—Mr. William Price has been elected Vice-President of the
Diamond National Bank of Pittsburg to succeed Mr. William
M, Hersh. Mr. George Armor has also been made an Assist
ant Cashier of the bank.
—Ia order to engage in the trust company business the
—The Comptroller of the Currency ordered the closing Forest City Savings Bank Company of Cleveland, Ohio, has
yesterday of the First National Bank of Asbury Park, N. J. amended its charter and changed its name to the Forest City
The bank’s capital of $100,000, it is said, is seriously im Savings & Trust Company.
paired. The Monmouth Trust & Safe Deposit Company,
—Mr. Clark Browning, who, it is stated, was the second
which occupies the same bu’ lding, also closed its doors, but largest stockholder in the Oaio Savings Bank & Trust Com
this was done voluntarily, according to the statement of the pany of Toledo, Ohio, has disposed of his 200 Bhares to Mr.
officials, who assert that the company will again open in a Preesly T. Craig. The price is reported to have been $160
few days—as eoon as the excitement attending the suspension for each $100 share. Mr. Browning is President of the Dollar
of the First National has abated.
Savings Bank Company of Toledo.

—Mr Daniel G. Wing, who as receiver of the Globe Na
tional Bank of Boston so successfully conducted affairs that
the depositors received besides their entire deposits 7 per
cent interest (leaving no further need fora receiver), has
been chosen by the stockholders as agent to take charge of
the remaining assets which will eventually be divided among
them.
—Mr. Frank Houghton has been advanced from Assistant
Cashier to Cashier of the National Exchange Bank of Boston.
In his new office Mr. Houghton takes the position made
vacant by Mr. Charles A. Price, whose election as President
of the Mercantile Trust Company of Boston we have before
noted.
—A number of excellent views of the building of the Real
Estate Trust Company, of Philadelphia, are presented in a
pamphlet which that company has just published. The
building is a modern one, 17 stories high, and covers 109 feet
on Chestnut and 156 feet on Broad Street. About 600 offi ees
are contained in the building, ten elevators making access to
the various floors particularly convenient. The company
does a regular banking business. It transacts also a general
real estate business. In its trust department it receives and
executes trusts of every description and acts in every ca
pacity usually undertaken by an institution of its character.
The officers are: Mr. Frank Hippie, President; George
Philler, Vice-President; William F. North, Treasurer; W il
liam Philler, Secretary; Thomas B. Prosser, Real Estate
Officer; Robert D. Ghriskey, Cashier; M 8. Collingwood,
Assistant Treasurer, and Roland L. Taylor, Assistant Sec
retary.
—Mr. Charles E. Ball has replaced Mr. Robert Russell as
Vice-President of the Holyoke National Bank of Holyoke,
Mass.
—Three Worcester, Mass.,* financial institutions, it is
reported, are to unite. The Central National, with a capital
of $300,000 and the City National, with a oapital of $200,000,
will relinquish their charters, ths stock of each to be ex
changed for stock of the Worcester Safe Deposit & Trust
Company. The latter is to inorease its capital for the pur
pose from $200,000 to $500,000. The aggregate deposits of
the three institutions are nearly $6,0(]0,000.

—It is announced that Mr. Charles Chatsworth Murray
has tendered his resignation as Superintendent of the stock
department of Messrs. Feder, Holzman & Co. of Cincinnati.
Mr. Murray, whose resignation becomes effective on the 15th
inst., will engage in the banking and brokerage business on
his own account.
—Mr. Harvey J. Hollister, who recently retired as Cashier
of the Old National Bank of Grand Rapids, Mich., to be
come Vice-President, celebrated on Monday, the 2d inst.. his
fiftieth year as a banker. He has been succeeded as Cashier
by his son, Clay H. Hollister.
—The State Savings Bank of Detroit, Mich., has added
three new and influential men to its board of directors,
namely, Mr. Thomas H. Hubbard, of this city; ex Comptroller
James H. Eckels, President of the Commercial National
Bank of Chicago, and Mr. W . K. Bixby, Chairman of the
Executive Committee of the American Car & Foundry Co.
—Mr. S. B. Marks Jr. has been chosen President of the
Merchants’ & Planters’ National Bank of Montgomery, Ala.,
to succeed the late Robert Goldthwaite. Tne selection of
Mr. Marks for the head of the institution is a wise one, his
twenty years’ association with the bank’s affairs (for fifteen
of which he was Cashier) placing him in a position to ably
handle his new duties. No new Cashier has yet been elected.

360

THE

C H R O N IC L E

[VOL. LiXXV I,

—Mr. John C. Simonds, formerly Cashier of the First
National Bank of Charleston, S. C., has been elected Presi
dent to succeed Mr. Andrew Simonds. Other changes are
the ehotion of Mr. L. D. J. Simonds as Vice-President and
Mr. Dwight Hughes as Cashier.

—The Royal Bank of Canada at Halifax has issued its
33d Annual Report, for the year ending December 31 1902.
It appears in very attractive form. The bank now has a
paid-in capital of $2,481,000 (the amount having been in
creased $481,000 on Dec. 30 last), against $2,000,000 on De
—Mr. Walter Pringle has been made Vice-President of the cember 31 1901, and a reserve fund of $2,500,000, which
compares with $1,700,000 a year ago. Deposits also ad
Bank of Charleston, N. B. A., of Charleston, S. C.
vanced considerably during the year, the amount reaching
—The City National Bank of Dallas, Tex., has a new Presi
on December 31 1902, $13,929,120, against $13,363,125 twelve
dent in Mr. E, O. Tenison, who had previously been a Vice- months before. The report contains interesting statistics
President.
concerning the Dominion of Canada, showing the imports of
—Mr. William B. Rankine of the International Traction coal for 1902; the gold production for the years 1870, 1880,
Company of Buffalo and Mr. Edward M. House of Austin, 1890, 1900 and 1901; the chief articles of domestic export for
Texas, were this week elected directors of the Equitable the same years and also 1902; the public debt of the Domin
Trust Company of this city.
ion for 1870, 1880, 1890, 1900 and 1902; the ordinary revenue
—Articles of incorporation for the Tennessee Trust Co. of and expenditures for the same periods,and other compilations
Shelby County, with situs at Memphis, Tenn., were filed on of equal interest.
the 7th inst. The capital stock is $500,000.

—It appears likely that the Commonwealth Trust Company
of St. Louis will continue as an independent concern. Nego
tiations for consolidation with the Mississippi Valley Trust
Co. have been in progress, but Vice-President Lawrence B.
Pierce and his friends, who have been opposed to the consoli
dation, have by the purchase of a large block of stock
been able to prevent the merger. Mr. Tom Randolph
has succeeded Mr. Charles H. Turner as President of the
company.
—D. W . Buchanan, who recently resigned the cashiership
of the Western State [Bank, Chicago, is associated with Mr.
Charles Burrell Pike and other Chicago capitalists in pro
moting the organization of a new bank, the Hamilton Na
tional, which it is planned to open some time in April. The
proposed capital stock is $500,000, with a surplus of $125,000, to be provided by a subscription price of 125. The prob
able location of this new bank will be the quarters so long
occupied by the Merchants’ National Bank.
—In the statement of February 6th Chicago national
banks record an increase of deposits over the amount shown
November 25th of $17,000,000. The First National leads
with a gain of $6,200,000, followed by the National Bank of
North America with $2,500,000, the Corn Exchange and
Commercial National with upward of $2,000,000 each, and the
Continental National with nearly $2,000,000.
—Richard Jefferson has been elected Secretary and Treas
urer of the Citizens’ Loan & Trust Company of Milwaukee.
—On February 28th prox. Isaac L, Ell wood, one of the
special parters, will retire from the firm of Harris, Gates &
Co. of Chicago and New York.

DEBT

STATEM EN T

JAN UARY

31

1903.

The following statements of the public debt and Treasury
cash holdings of the United States are made up from official
figures issued Jan, 31, 1903. F o r statem en t o f Dec. 31, 1902,
see C h r o n ic l e Jan. 24, 1903, p a g e 190 ; th a t o f Jan. 31, 1902,
see Feb. 22, 1902, p a g e 408.
IN T E R E S T -B E A R IN G D E B T JA N U A R Y SI, 1903.
in terest A m o u n t --------- Am ount Outstanding.-----------.
Registered.

Coupon.

2a. Consols Of 1930......Q . - J . 446,940,760 488,308,800
3s, Loan o f 1908-1918..Q.—F. 198,792.660 66,089,800
4s. Funded loan, 1907..Q.— J. 740,925,000 184,840,000
Is R efund’d certlflo’ s.Q.— J. 40,012,760
...........
4a, Loan o f 19 25.......Q .—F. 162,816,400 91,610,250
8», L oan o f 1904..........Q.—F. 100,000.000
11,744,050

Title of Loan—

payable,

issued.

7,681,950
41,476,860
48,838,860
............
26,879,660
7,641,000

t

i

t

lo ta l.

i

445,940,750
97,616,680
288,178,860
81,120
118,489,900
19,885,050

Add’te Int.-B earlng D e b t.1,687,986,660 782,642,400 131,967,810
914,641,830
No t e —D enominations o f Bonds are :
Of $10 only refunding certificates; o f $20 loan o f 1908 coupon and registered
Of $50 all issues except 3s o f 1908; o f $100 all issues;
Of $500 all except 5s o f 1904 coup.; o f $1,000 all issues;
Of $5,000 all registe'd2s,3s and 4s; o f $10,000 all registered bonds;
O f $20,000 reglst. 4s loan o f 1907; o f $50,000 registered 2s o f 1930.
DEBT ON W H IC H IN T E R E S T H A S CEASED SINCE M A T U R IT Y .
Dec. 31.
Jan. 31.
fu n d ed Loan o f 1891,continued at 2 p erce n t, called
May 18,1900 ; Interest ceased August 18,1900 .. $132,700 00
$110,700 00
Funded Loan o f 1891, m atured Septem ber 21891..
63,05000
60,76000
Old debtm atured p r lo r t o Jan. 1, 1861 ..................... 1,059,930 26
1,059,460 26
D eb ton w hich in terest has ce a se d .....................$1,256,710 26
$1,230,910 26
D E B T B E A R IN G NO IN T E R E S T .
United States n ote s................................................................................ $346,681,016 00
Old demand n otes.....................................................................................
63,84760
National bank n otes—R edem ption a cco u n t...................................... 43.808,829 00
Fractional onrrency, less $3,375,934 estim ’d as lo st or d estroyed
6,872,698 68
A g g r e g a t e d d ebt b e a r ln e n o in te r e s t........................................,$396,516,286 18
R E C A P IT U L A T IO N .
Jan. 81,1908.
Dec. 81.1902.
Inc. or Dec.
Classification o f D ebt—
$
$
t
Interest-bearing d e b t.........
914,541,930 00 914,541,240 00 Inc.
$90 00
Debt, interest ceased..........
1,230 910 26
1,255,710 26 Deo.
24,800 00
Debt bearing n o in te r e st...
89e,616,286 18 895,777,109 68 Inc.
789,176 50
T ota l gross debt............. 1,812,’288,526 39 1,811,674,069 89 Inc.
714 466 60
Cash balance In Treasury*.
868,345,963 42 364,409,380 29 Ino. 8,936,683 13
T ota l n et d e b t...............

948,942,562 97

947,164,679 60 Deo. 3,222,116 63

* Including $150,000,000reserve fu nd .

The foregoing figures show a gross debt on Jan. 31, 1908?
—The new St. Paul bank, reference to which appeared in
of $1,312,288,526 39 ard a net debt (gross debt less net cash
these columns last week, has been designated the American in the Treasury) of $943,942,562 97.
National Bank. The Comptroller on the 3d inst. signified
T r e a s u r y C a s h a n d D e m a n d L i a b i l i t i e s .— The cash hold
his approval of its organization.
ings of the Government as the items stood Jan. 31 we have
—Mr. Joseph Lockey, who has resigned as Cashier of the prepared from the Treasury statement of that date.
ASSETS.
L IA B IL IT IE S .
National German-American Bank of St. Paul, Minn., will
Trust Fund Holdings—
2 rust Fund Liabilities—
Gold
be succeeded in that position by Mr. D. S. Culver. Mr. Gold coin......................... $899.621,069 00 Silvercertificates.............$398,621,069 06
Sliver dollars.................. 465,297,000 00
certificates........... 465,297,000 00
Culver is at present National Bank Examiner for Minnesota Silver dollars o f 1890.... 1,012,918 00 Treasury n otes o f 1890.. 22,963,000 00
Silver bullion o f 1890... 21,940.052 00
and Wisconsin, and will not take up his new office until
Total trust fu p d s .........$886,871,069 Q
O
Total trust liabilities..$986 .971 ,069 00
General
after April 1. Mr. Lockey, the retiring Cashier, is promi Gold coin FundbHoldings—$76,197,491 49 Qen. Fund Liabilities—
and u llion ...
National bank 6 per cent
nently identified with the new American National Bank, Gold certificates............. 23,596.266 00 fu n d ................................ $18,879,795 68
Silver certificates..........
8,440,401 00
Outstanding checks and
Silver dollars...................
8,446,106 00
and it is expected will become its President.
drafts..............................
8,164,029 E9
—Assistant Cashier S. G, Graves of the Washington Na
tional Bank of Seattle, Wash., has been made Acting Cash
ier since the resignation of Mr. Charles S. Miller. Mr. R. S.
Walker is the new Assistant Cashier.
—The French-American Bank, newly organized, and the
French Savings Bank of San Francisco have removed to 315
Montgomery Street. The French-American Bank, whose
capital is $1,000,000 in shares of $100 each, is a commercial
institution. The French Savings Bank, which is a savings
bank, recently increased its capital from $300,000 to $600,000,
and made the par value of its shares $100 each instead of $50
as previously. The officers of the two banks are identical:
President, Charles Carpy; Vice-President, A. Legallet, and
Secretary, Leon Bocqueraz.
—Mr. George M. Downey has been succeeded as President
of the Commercial National Bank of Salt Lake City, Utah,
by Mr. John J. Daly, while Mr. George E, Corgriff has been
appointed Second Vice President.

Sllverbullion...................
1,123.688 00
United States n otes......
6,473,503 00
Treasury notes o f 1890..
87,523 00
National b a n k n o t e s .... 21,569,193 08
Fractional silver c o in . ..
8,020,704 93
Fractional c u r r e n c y ...
154 20
Minor c o in -.....................
785,659 90
Bonds and Interest paid______46,886 45
Tot. in Sub-Treasuries, t l 62,774,918 06
In Nat. Bank Depositaries —
Credit Treasurer o f U. S.tl42,908.77S 07
Credit U. S. disb. officers
7,194,462 43
Total in banks....... •....$160 099,826 60
Reserve Fund Holdings—

Gold coin and b u llion .. .$150,000.000 00
Grand total.............. $1,339,744,20? 66

Disbursing officers’ bal
ances.............................. 55,209,821 14
Post Office Department
a ccou n t..........................
4,976,623 18
Miscellaneous item s,. . . .
2,896,905 80
Total gen. liabilities... $84.627,175 13
Cash Balance S R eservec
Total cash and reserve. .$368,845,963 42

Made up o f —
A vailable.. $218,345,963 42
and
R eserve Fund
Gold & bu!L$160.0O0,000JK>___________
Grand total............... $1,339,744,207 65

pXfluc t autjl <£0im u ex*cialj£iiglt

curs

IFrom our own correspondent.!
L o n d o n , Saturday, Jan. 81, 1903.

The fortnightly settlement on the Stock Exchange which
ended on Thursday evening did not show very much increase
in business, and rates were easier than had been anticipated*
There was one small failure of a broker who acted on a large

F e b r u a r y 14, 1903.]

THE

C H R O N IC L E .

eoale for very weak people, and who sold West Australian
gold shares on a great scale. It is said, moreover, that
several outside operators who for a long time have been bear
ing West Australian gold shares, were unable to pay their
differences, and that some of them have absconded. Apart
from this, the settlement was arranged quite smoothly.
For a long time the West Australian market has been
utterly discredited, and therefore bears have been able to
play with it as they pleased. Recently, however, two power
ful syndicates, French and German, have been buying West
Australian shares in the belief that they are unduly de
pressed just now, and that if good management were intro
duced the West Australian gold-fields would prove extremely
rich. These purchases have raised prices all round with the
result already mentioned to some of the bears. There is
likewise much more activity than for a considerable time
in the West African mining market; but the South African
market remains depressed. Everybody is waiting for the
solution of the native labor problem,
In the market for British railway stocks there has been a
recovery, for the dividend announcements hitherto issued
have proved better than the general public anticipated. It
has been known by the well informed that the several rail
way companies have been making earnest efforts all through
the past year to economize wherever possible, and to intro
duce several much wanted reforms. It seems clear that the
efforts have been attended with considerable success, for all
the announcements yet made show improved results. More
over, the railway companies are beginning to introduce elec
tric power on their suburban lines. The Northeastern,
which is the most progressive of our companies, has just
concluded a contract for the equipment with electricity of
87 miles in the neighborhood of the Tyne. It has been de
cided to use electricity on the underground railways in
London, and several of the South of England railways, as
well as one Liverpool railway, have the subject under dis
cussion. Much is expected from all this, and therefore con
fidence in the future of our railways is reviving.
Upon the Continent business is also decidedly increasing.
In Paris there has been more buying than for a long time of
Spanish, Italian, Portuguese, Turkish and South American
securities. Here in London French investors have been
buying their favorite stocks on a very large scale. German
investors have been buying in London likewise, and even at
home the demand for good securities is increasing. The im
pression now is that there will be no great French loaD this
year, and that Russia will borrow in Berlin and not in Paris.
It looks just now as if new issues in Berlin would be very
numerous during the current year. A syndicate of German
bankers has just contracted with the Roumanian Govern
ment to convert 7 millions sterling of Treasury bills into a
permanent loan bearing 5 per cent interest. In March or
April both the Imperial German Government and the
Prussian Government will borrow. The amount is now
estimated at 20 or 25 millions sterling. Later in the year it
is expected that a large Russian loan will be brought out in
Berlin, and doubtless the minor German States and some of
the other smaller European Powers will borrow in either
Germany or France.
Money has been in strong demand throughout the week,
partly because of the Stock Exchange settlement, but
mainly because the collection of the revenue is being pushed
forward very rapidly, and taxation being unusually high, the
amounts that are being transferred from the outside market
to the Bank of England are exceptionally large. There was
some notion recently that the Bank of England would put
down its rate of discount, but it has prudently decided not to
do so. The French demand for gold in the open market still
continues and the directors very naturally fear that if rates
were made easier here gold might possibly be withdrawn
from the Bank of England. During the past fortnight the
Continental banks in general have been buying sterling bills
on a very large scale and no doubt they will continue doiDg
so if rates are well maintained here. If rates were to fall,
however, they would not only stop buying, but the French
banks in particular might withdraw a portion of the
balances they are employing here just now. Consequently,
the directors of the Bank of England feel it to be absolutely
necessary to keep up rates, and as, owing to the collection of
the revenue, they will have control of the open market for
the next two months, they ought to be able to succeed in do
ing so. It is true that money is very abundant and very
cheap on the Continent and therefore that there is no in
ducement to withdraw balances from London. But never
theless, as already said, there is a French demand for the
gold which appears in the open market here, and if rates were

361

to fall it is quite possible that gold might be taken from the
Bank of England. The Bank cannot afford that at present.
The India Council continues to sell its drafts well. It
offered for tender on Wednesday 80 lacs and the applications
exceeded 1,022 lacs at prices ranging from Is. 4 l-32d. to
Is. 4 3-32d. per rupee. Applicants for telegraphic transfers
at Is. 4 3-32d. and for bills at Is. 4 l-16d. were allotted about
33 per cent of the amounts applied for.
l'he following return shows the position of the Bank of
Sngland.the Bank rate of discount, the price of consols, &c.
compared with the last three years :
1902.
1901.
1900.
J a n . 31.
Jan. 29.
Jan 30.
J
L
S
£
M
28.43i.lC0 28 831,180 28,772,010 28,350,815
8.6i5 3 T
2 10.003.785
8 824.010 11 440,753
42 254.161 40.781 839 40,090 241 10,221,821
16,030 3tr0 17.278 670 15 431,570 18 057.167
29,2te 329 20 973,530 2^,189.100 27,830.134
21,1*5 068 *5,657.597 21,605 008 28,851,016
84,%2 768 60,010,777 33 0O3.S78 35,501,881
49*4
44 9-10
4654
4794
4
4
•3*
B
631-10
84 7-10
8e*4
10154
27 11-104.
*194d.
26 9-10(1.
87440.
171.093.UO0 170,086.000 100,114,000 187,020.000
1903.

Jan. 28.

Jlreulatlon..................................
Public d ep o sit* .........................
Other deposits...........................
Jovernmen t securities.............
Other teoarltiei,.........................
ileierve o f notei aDd d ole.......
Cola AbnUton,both depurtm ’ ts
Prop, reserve to liabilities.p.e.
Bank rate.................. per cent.
Consols, 294 p e rc e n t.................
Silver...........................................
Clearing-House retornr...........
•Jan. 81.

The rates for money have been as follows:
4
0
0

■
O

g
cq 3 Monthi.
Jan. 2 4
•
•
9 4
“
10 4
"
24 4
“
31 4

Intereet a llow ed
for depoeiti 6*

Open Market R a te i.

5 endo n .

0 Month a. 8 M ot.

4 Monthi.

Joint D i e ’ t H ' e .
Stock
4 Mot. Banke Call Dayt

Trade BUlt,

Bank Bill*.

396@3*4 394@4
394®3*6
894®3)4
8*4®S94 3*4@4
3*6@394
S*6@394
3 7-16
8*6
394
3*6
3 3-16@8*4 3 8 -ie @ 8*4 3 3-10@S*4
394
8*4@S 5-16
3 6-10
8 6-10
394

3J4®4
4
894
*94
334® 4

2*
2*6
2*4
2*4
2*4

2*4
2*4
2*4
2*4
2*4

*94
294
294
294
294

The Bank rate of dlsoount and open market rates at the
ohief Continental oities have been as follows:
January 80.
In tereet a t

P aris.................
Berlin. .............
H am burg..........
Frankfort.........
Amsterdam......
Brussels............
Vienna..............
81, Petersburg..
Madrid..............
Copenhagen. ..

B a nk
R a te.

3
4
4
4
8
8
3*4
4*4
4
4

January 23.

Open B a n k
Open
Market R a te. M arket

3
4
4
4
8
8
3*4
4*4
4
4

2*4
2*4
2*4
2*4
294
294
2*4
nom .
4
4

January 10.

January 2.

Bank
Open
R a te. Market

Bank
Open
R a te. M arket

2%

2*4
2*4
2*4
294
294
2H
nom.
4
4

3
4
4
4
8
3
3*4
4*4
4
4

2*4

294
294
294
394
2U
2*4
nom.
4
4

3
4
4
4
3
3
3)4
4*4
4
4

313-10
S*6
S*4
8*6
2*4
294
3*4
non.
4
4

Messrs. Pixley & Abell write as follows under date of
January 29:
Gold.—With exchange more favorable, Paris has again been a buyer
and has taken almost all the arrivals. The Bank has received
£22.000, and £60.000 has been withdrawn chiefly for Buenos Ayres.
Arrivals—8o nth Africa, £207,000; Australia, £61,000; 8tralts, £4,000;
W estlndles, £9,000; total. £281,000. Shipments—Bombay. £61,000;
Madras. £2.5 00; Calcutta £1,900; total, £65,400.
8llver.—The mar ket has been a quiet one with limited Inquiry for
the East. Fluotuati ons In price have been small, and the closing
quotation Is 21iiigd. fo r both cash and forward. At this price the
market Is steady, with sellers holding off The Indian rate Is Rs 55^d.
Arrivals—New York, £227,000; Australia (dore), £13,000; West
Indies, £4,000; total, £244,000. Shipments—Bombay, £137,100;
Madras, £2,500; Shanghai. £'6 ,5 0 0 ; total, £216,100.
Mexican Dollars.—Only trifling transactions have taken place and
the quotation is nominal. £7,800 has been sent to the Straits.

The quotations for bullion are reported as follows:
G old .
London Standard.
Bar gold, fine___oz.
0 . B. gold ooln ...oz.
Germ’n gold ooln.oz.
French gold ooln.oz.
rapanese y en ___oz.

Jan.
29.
s.
77
76
76
76
76

d.
90s
41*
4V
4V
4V

Jan.
22.
*.
77
76
76
76
76

‘ Nominal.

Si l v e r .
Jan.
London Standard. 29

Jan.
22.

d.
d
d
91* Bar silver, fine...oz. 21Hi, 2 i n 18
4i*
Do 2 mo. delivery 21lli, 21 \
4 V Bar silver, oontaln’ g
4V
do 5 grs. gold.oz. 22S18 22318
4*
do 4 grs. gold.oz. 22
22
do 3 g rs.g old .oz. 2113i« 2H3 i 8
Oafee s ilv e r .......o z . 23716 33718
Mexican dollars.oz.121V 211*

The followlngshowstheimportsof oereal produoelntothi
United Kingdom during the twenty-one weeks of the season
compared with previous seasons :
IMPORTS.

1902-03.
1901-02.
Imp’ ts of wheat, owt.33,315,398 26,213,900
Parley..........................15,219,194 12,679,300
Oats............................. 6,943,810
8,441,900
Peas.............................
865,950
820.800
Beans...........................
955,863
935,6C0
Indian c o r n ................14,757,569 20,087,SCO
H o u r .......................... 8,285,027
9,611,600

1900-01.
1899-00.
26,069,300 25,149,800
10,3.6,100
8,071,400
9.154.700 7,468,400
1,221,630 1,407.400
800,040
699,400
22,820.100 26,499,700
9,163,900 8,890,000

Supplies available for consumption (exclusive of stocks on
September 1):
1902 03.
1901-02
190C-01
1899-00.
W heatlm ported.cw t.33,315,398 26,213,900 26,069,300 25,149,800
Imports Of flour........ 8,285,027
9.611,600
9,163,900
8,890,000
aalesof hom e-grow n.10,453,046 12,764.678 10,557,768 13,777,921
Total,
53,053,471 48,589,178 45,790,968 48.817,621
Aver.prloewheatsweek.25s. Od.
27s. 7d.
26s. l i d .
26s. Od
Average price, season.25s. 7d
26s. 8d
27s. 6d
26a. Od

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
T hit toeek.
Wheat............... q rs... 1,865,000
Floor, equal to qrs... 260 ,ooo
Maize.................q rs... 605.000

Lati wee*.
1,900.000
280,000
645,000

1901.
3,515,000
340.000
530.000

1900.
2,395,000
290.000
790.000

THE

362

CHRONICLE

B n g l l i k F i n a n c i a l m a r k e ts —P e r C a b le .

The dally oloslng quotations for securities, eto., at Londo
are reported by oable as follows for the week ending Feb. 18:
LONDON.

Sat.

Silver, per ounoe....... d
Console.,new,2% p.ots
For aooount............ .
Fr’oh rentes(ln Paris) fr
Spanish 4s........... .........
Anaconda Mining.......
Atoh. Top. < Santa Fe.
b
Preferred....................
Baltimore A Ohio........
Preferred....................
Canadian Paoiflc........
Chesapeake A Ohio...
Chioa. Great Western..
Ohio. Mil. A St. Paul...
Den. &Rlo Gr.,oom....
Do
do Preferred.
Erie, oommon ............
1st preferred............ .
2d preferred...............
Illinois Central.............
Louisville A Nashville..
Mexican Central..........
Mo. Kan. A Tex., com..
Preferred...................
National RB. of Mex...
Preferred....................
N. Y. Cent’l * Hudson..
N. Y. Ontario A West’n
Norfolk A Western----Do
do
pref
Pennsylvania........ .
•Phlla. A Read______
'Phil a. A Read. ,1 st pref
•Phlla. & Read.,2d pref
Sonthern Pacino..........
Sonth’n Railway, com.
Preferred...................
Union Paclflo..... . . . . .
Preferred.......... .........
U. 8. Steel Corp., com.
Do
do
pref.
Wabash............... .
Do
preferred......
Do
Deb. « B” .......
' Price per share.

93
93*4
0007**
....
5%
8f %
102 *g
103 3
J
98*41
140
63*9
28*3
183*8
41*4
91*8
42
7438
65>a
150
129>«
26*8
28*a
61%
19*8
39*4
154
35*4
76*4
96
77*4
32 %
45
39*4
66*8
3634
97*«
104*e
97
39%
90*8
31*8
<9*4
82*«

M on

tu ts.

22
22*8
»2* o16 92*3ie
93*e
93
00 02** 19-95
....
....
63
4
57e
90*4
9078
103*4 104
104
105
98
98*a
140*8 142
54%
53%
29
28*s
183*8 185
423s
43*s
92
92*4
423g
42*8
74%
747
8
65*4
65*4
149*8 150
130
131*4
26*4
28
293s
303a
C23t
63%
19*8
201*8
40
39
154
154*8
35*«
35*s
76*a
78
96
96
77*a
77*4
S3
33*4
451*8
45
891*8
39*a
671*8
68
87
37%
97
,98*4
105
1057s
97
97H
40*8
40*4
91*8
91*4
32%
33
54
53
86
82*8

W id.

22*lfl
921318
93
0002*8
....
5%
9078
103*a
104*8
98
1411*8
54
28*a
184*8
43
92
4i%
74*4
63%
149*8
130
28
30
64*4
19%
40
154*8
347e
77*4
95
77*4
32 7s
45*8
39*8
67%
36%
98*4
105
97
40
91*4
32*8
52%
84*a

T hu rt

Art,

22*,«
223is
921316 93
93
93*18
10005 100-10
....
....
5%
5%
9t *8
90*4
103** 103*4
£102% 102%
....
96*9
141*4 141
53%
637
8
28%
28*8
183
184
43
42*8
92
92*4
41%
41%
73*8
74*4
64
63*9
149% 149*8
129% 129%
....
27*9
29%
29*8
....
64
....
19%
....
39
154*8 154*9
34%
84%
77*e
77*4
95
*93*4
77*4
77*4
32%
32%
45
46%
39
39*8
6t%
67%
36%
36%
98
97*8
10U*8 104*4
97
97
89%
39%
90%
9078
32
82
52%
53
—
84**

GPomrajcrcial autl iTl isccUauccmsJVexus
N a t i o n a l B a n e s .— The fo llo w in g in form a tion regarding
national banks is from the Treasury D epartm ent.

[V ol.

LXXVI.

6.536— The First National Bank of Spring Grove (Post-office SprinSf
Forge), Pennsylvania. Capital, $50,000. W. L. Glatfelter,
President * — — _ „ Costlier*
—
6.537— The First National Bank of Lakefleld. Minnesota. Capital,
$26,000. N. J. Scott, President; J. W. Daubney, Cashier.
Conversion of Citizens State Bank of Laketleld.
6.538— The First National Bank of Marllnton, West Virginia. Capital,
$25,000. George P. Moore, President; E. H. Smith, Cashier.
6.539—The First National Bank of Fort Gibson, Indian Territory.
Capital, $25,000. Connell Rogers, President; P, L. Pyle,
Caehier.
6.540—
The Naiional Bank of Commerce of Holdenvllle, Indian Ter
ritory. Capital, $25,000. Evans Scott, President; W. T.
McConnell, Cashier.
6.541—The Natlon&l Bank of Pawnee City, Nebraska. Capital,
$50,000. W. J. Halderman, President; Jacob F. Halderman,
Cashier.
6.542— First National Bank of Tifton, Georgia. Capital, $25,000.
-----------------. President; O. D. Gorman, Cashier.
6.543—The First National Bank of 8teward, Illinois. Capital, $25,000.
E. L. Titus. President; I. R. Titus, Caehier.
6.544— The First National Bank of Waseca, Minnesota. Capital,
$50,000. E. A. Everett, President; J. B. Sullivan, Cashier.
6.545— The American National Bank of Los Angeles, California.
Capital, $1,000,000. W. F. Botsford, President; T. W. Phelps,
6.546—The Citizens’ National Bank of Russellville, Kentucky. Capital,
$25,000. T. D. Evans, President; H. L. Trimble, Cashier.
6.547—The First National Bank of Sumpter, Oregon. Capital, $25,000.
J. H. Robbins, President; R. H. Miller, Cashier.
6.548—The Peoples’ National Bank of Slstersville, West Virginia.
Capital, $75,000. G. B. West, President; T. O. Neal, Cashier.
6.549— The First National Bank of Ridgeway, Missouri. Capital,
$30,000. C. O. Fordyce, President; Wm. A. Miner, Cashier.
6.550— The First National Bank of Fonda, Iowa. Capital, $25,000.
James F. Toy, President; L. A. Rothe, Cashier.
6.551— The First National Bank of Royse, Texas. Capital, $30,000.
J. N. Miller, President; J. D. Miller, Cashier.
6.552—The Ossining National Bank, Ossining, New York. Capital,
$ 1 0 J,000. George F. Seoor, President; H. M. Carpenter,
O&slii er
6.553— The Citizens’ National Bank of Ferris, Texas. Capital, $30,000.
-----------------. President; J. A. Carpenter. Cashier.
6.554— The First National Bank of Waynesvllle, North Carolina.
Capital, $25,000. G. W. Maslin, President; -------- --------,
Cashier.
6,555 -The Kenmare National Bank, Kenmare. North Dakota. Capital,
$25,000. J. N. Fox, President; P. M. Cole, Cashier.
6.556— The First National Bank of Douglas County, at Castle Rock,
Colorado. Capital. $ 2 5 .0 0 0 .-----------------. President; Upton
T. Smith, Vice President; E. P. Brown, Cashier.
6.557— The First National Bank of Tower City, North Dakota. Capital,
$25,000. R. P. Sherman, President; S. F. Sherman, Cashier.
6.558— The First National Bank of Murray, Utah. Capital, $25,000.
Lewis S. Hills, President; L. W. Burton, Aoting Cashier.
6.559—The First National Bank of Buffalo, North Dakota. Capital,
$25,000. E. E More, President; 8. G. More, Cashier.
6.560—The Merchants’ and Manufacturers’ National Bank of Sharon,
Pennsylvania. Capital, $175,000. John Carley, President;
q

jj

P ftftr fio n

flfts h lftr

8 8 0 ,6 4 3

384,e so

m

l o t a l

7

o n t h s .

6.561— The First National Bank of Belle Fourohe, South Dakota.
Capital, $25,000. Geo. H. Rathman, President; David R.
Evans, Cashier.
NATIONAL BANKS ORGANIZED.
6.562— The Stapleton National Bank, Stapleton, New York. Capital,
C ertifica tes Is s u e d N o v em b er 29, 1902, to D ecem b er 30, 1902.
$100,000,
F. C. Townsend, President; Robert H. Gill,
Cashier.
6.511— The First National Bank of Boynton, Indian Territory. Capi
tal, $25,000. Augustus W. Patterson, President; Frank S. 6.563—The First National Bank of Grand Rapids, Minnesota. Capital,
$25,000. C. W. Hastings, President; F. P. Sheldon, Cashier.
Miller, Cashier.
6.512— The Phllson Natloral Bank of Berlin, Pennsylvania. Capital,
$60,000. Robt. Phllson, President; Don M. Kimmel, Cashier.
6.513— The Union National Bank of Indianapolis, Indiana. Capital,
Go v e r n m e n t R e v e n u e a n d E x p e n d i t u r e s .— Through the
$200,000. W m .J, Richards, President; Robert E. Morrison, oourtesy of the Secretary o f the Treasury, we are enabled to
Cashier.
6.514— The First National Bank of Libertyville, Illinois. Capital, place before our readers to-day the details o f Government
$25,000. John Woolrldge, President; H. G. Garuner, Caehier. receipts and disbursements for the month o f January.
6.515— The First National Bank of Butler, Ohio. Capital, $25,000. From previous returns we obtain the figures for previous
Isaao Hess, President; I. Shatter, Cashier. (Conversion of
months, and in that manner com plete the statem ent foi
Richland County Bank Company of Butler.)
6.516— The Blair County National Bank of Tyrone, Pennsylvania. seven months o f the fiscal years 1902-03 and 1901-02. For
Capital. $100,000. A. G. Morris, President; F. K. Luken- statement o f January , 1902, see C h r o n ic l e April 19,^1902,
bach, Vice-President,---------------- -, Cashter.
page 811.
6.517—The First National Bank of Quinton, Indian Territory. Caplrv tal. $ 2 5 ,0 0 0 .----------------- , President; R. P. Brewer, Cashier.
RE C E IPTS A N D D ISB U R SE M E N TS (000 o m itte d .)
6.518— The First National Bank of Milton, North Dakota. Capital,
x o * ©
CO r H
HT t O © — p - r r
JU
O CD O
CM t " C D
© X
$ 2 5 ,0 0 0 .----------------- , President; Hans G. Halverson, Cashier.
CM l - CO
t o — 00
© © © r»c M ®
©
UG © 0 0 © O CO
O M
« w
0 0 w* r ^
^ 0 0 00^CD
r— CM t ^ O O © O
6.519—The National Bank of Commeroe of Mankato. Minnesota.
HA l ' - © CO X ©
I I
© ©
<005
x 'c o a T
© ® © © O ®
V a T K a O r -''c T
©
« v © r
co x T CM ®
Capital, $100,000. A. O. Oleson, President; C. L. Oleson,
CO
© © CO
X rH
x cv
H r -i r H
§
Cashier.
H rH
5 2 "
00
CO
6.520—The City National Bank of Duluth, Minnesota. Capital, $500,W X L1 O w K
*
QO O co I C O
Ob CM —
CM
CM
HA rH © Cr
© C M O 00 X ©
X
X tO v f
CD
J O 00
35
nA CM J O © CO ID
ro
HA ©
A 35 r H HA
Hrf
©OC
000. John H. Upham, President; A. R. Maotarlane, Vicer f CO CQ
f— < OD
a
to
© CO f © — X
©
r - t>
© X X X © ©
CO©
e
President; Wm. I. Prince, Cashier.
n
X CO
CM © 30
CD
" {> f>
© CO
© ©’ ©
© rH
X
CO CO CM CM
00 —
r jl
rH
rH
rH
rH
CU CM
CO
6.521—The First National Bank of Mountainhome. Idaho. Capital,
CO
* 1 © 00
—
—
f>
CM
0 5 CO © © © ©
© © x a o © co
©
rH
© o
$25,000
G. W. Fletcher, President; W. A. Reynolds,
to
C ^ l> ©
CM
^ 95 CM
©
| > 'J: T S ^ © ©
X
0 0 HA 00 CM r n CM
© ®
rH
'A M N r -C O ^
Cashier.
g > © 3510
© © © © X ©
© r -C D
©
©
X rH
© a
CQ
C O © «
H X r CM
© X © rH ©
©
OD X HA r H © CO
6.522—The Runge National Bank, Runge, Texas. Capital, $25,000.
l>
00
CQ CQ
rH
rH
CO
CO
J. 8. Powell, President; J G. Talk, Cashier.
® x
35
© © —
f
- J . CL. 1 — CO
H A r -l© © C ^ C M
L©
©
X CO © f
6.523— The First National Bank of Jasper, Minnesota. Capital, $25,©
C M tO v ^
HJ*
CD v A ©
O HA O CO
© © CM © X ©
©
09 ©
© ®
•O © f— i
IQ
o
© rH
o
© © r - CM IV CO
©
r - CM © e » © HA
CO©
000. E. W. Davies, President; J. H. Taylor, Cashier.
N O O N
00
05 QD CO
«o
© n 3D r - CO r t
CO
>5
CD © ©
c o CM
©
CO CM —
6.524—The First National Bank of Nashville. Illinois. Capital, $^0,CM r -l
r-< CM
rH
rH
HJ*
000. Thomas B. Needles, President; Louis Krughoff, Cashier.
r -l
O M C -C M
I O CM O
CM
CD H f HA HA r - I Q
©
^ © © © © C »
©
— — ©
V ( » l a
CO
r H HA CM HA © ©
HA
CM ©
©
© X
6.525—The Georgia National Bank of Athens, Georgia. Capital,
00
T flO ©
OD
O S ria : r j n H
© rH
05
© «rH 3 5 H A ©
©
© ©
$100,000. Jno. J. Wilkins, President; M. M. Stephenson,
r -T
o
X © HA
« Cfc CM
05
rH r - © r - ^ - ©
©
00 00
©
C M ® CD
© rH
CM CM
io
rH —
r -l
H*
rH
rH
Cashier.
HA
,
C O O
© 0 0 rH
©
HA CM a - CM X CM
CO
6.526— The First National Bank of Whiting, Indiana. Capital, $50,A A
r - | > 2 M © © -<
CO
CM ® ©
CD CO Tj*
CO
O © tQ O © ©
r »x ^ < © © ©
rH
3t
© rH
t> 3
000. Gallus J. Bader; President; George H. Wilson, Cashier.
OfrCM t - o
HA
© « « . © ©
A
© © — 0 r 4 0
00
^ at
© X
6.527— The First National Bank of Virginia, Minnesota. Capital,
T
CO
© «C M r
vf*’
0 L © "r»"
r - oo
CM r H
© © O
© 00
s f
r ^ 2M
CO
CO
$25,000. Orrin D. Kinney, President; Bruce F. Britts.
N D X
CM O t O
n>
© 0 5 C O ® 0 0 00
CO
© r.
CO O r H ® CD CO
09 O
Cashier.
CL' CO 3 5
ao<M a>
o
rH
©
c»
X r»C O C M © C M
X CM A © C O ©
©
M L l© 1© T*
©
Vf © X
rH
CO
© CO C > X © CO
© CO O
X HA
CO
6,628—The Masontown National Bank, Masontown, Pennsylvania
r - CQ ~
CO
00
to
“
X © © r H 0 0 CM ‘ c o
©
I > 0 5 © r - CO CM
Capital, $25,000. E. W. Sterling, |President; Solomon F.
CM *H
CQ CM
r-H
rH
r jt
rA
rH
CO
Hogue, Cashier.
.
r -C O C ©
■ ^ ta o to
HA
0 9 c n H* «
tej © X © c o C*
00 r -l t o
CC 95X
X
CM — I t o n O f c ©
rH
0^ rH A n O ©
6.529— The Dresden National Bank, Dresden, Ohio. Capital, $25,000.
D -a r
©
©
C O f
O^XACCO Q
t o o
CM ^ CM
X
X © t o 09 HA 0 M
X^
X O r H © © ©
CO
© ©
3
-----------------, Prefident ; John Hornung. Cashier.
—«
— CO
—>X CM
X ® V
©
35
09 © CD — r n
’
CM
to
6.530— The Doebaugli National Bank of Cedar Vale, Kansas. Capital,
CM CM
v*
» CM *
rH rH
rH
©
©
$50,000. John Dosbaugh, President; J. M. Dosbaugh,
Cashier.
:
fc • 6.531— The Citizens’ National Bank of Lehighton, Pennsylvania.
C©
t
r-l O .
p •:
o©
Capital, $60,000. Chas. n . Seidle, President; H. B. Kennell,
° 2 :
a :
fc .* r
•00«
0
Cashier.
— c8 •
H
© .
: *1
k o o Nr
6.532— The Farmers’ National Bank of Minnesota Lake, Minnesota.
CG ©
:
SoirH OC
a 0 ir H©
£
Ho *
Capital, $25,000. Herman A. Zabel, President, William H.
P o o ®c
©
a
I
>o © zs
Willson, Caehier.
x> Hrt H^*-h
V awr
O
©© © « a
6.533— The First National Bank of Cambridge Springs, Pennsylvania.
*- a © a ®
•«
K■ *
©
' a+
*
a
2
Capital, $ 5 0 ,0 0 0 .----------------- , President; W. M. Hawthorne,
00 M m
i a * Z oov
Vice-President; L, A. Marcy, Cashier.
S § • :si fl ® M * P3 3 3 0
2 ® 3 W© ©
Is® 5
*
O
D r« H ► cl © © . o o X,
—
© ®
o
6.534—The Mauch Chunk National Bank, Mauoh Chunk, Pennsyl
« ►« cev g f j E H © © CO
h
- §
vania. Capital, $250,000. M. S. Kemmerer, President; Ed
Si
25 & .2a,2
fc .
>.2a
gar Twining, Cashier.
Q
6 . 5 3 5 — The Drovers’ Deposit National Bank of Chicago, Illinois.
Capital, $600,000. Wm. H. Brlntnall, President; Wm. A.
* D educted from July “ M iscellaneous” 1901......
| 9432,806
Tilden, Cashier.
Received on accou n t Central P acific Indebtedness.
h

ha

cm

o j cm

om

h

h

c o o

cq

h

h

t

h

h

v

ha

h

THE

F ebruary 14, 1903.]

CHRONICLE

363

To make the figures conform to the Government state and (3) by banks reducing or retiring their circulation,
was as follows on the first of each of the last five months.
ment, the amount mentioned in the above foot-note should
Nov. 1.
Dec. 1.
Jan. 1 .
Feb. 1.
be added to the Receipts as indicated therein. We have Legal Tend’s. Get. 1 .
deducted these items, as they do not belong to the regular Deposits by—
$
$
$
$
9
913,651
562,801
637,990
591,833
840.798
income account, and if included would disturb the compar. (nsolv’ntbks.
ulqnld’g bks. 11,841,227 11,827,800 11,776,516 11,648,893 11,449,330
ison with former and future years.
ted’o’gund.*
sot of 1874. 30,671,237 32,274,512 Jl,414,786 10,239,396 31,095,479
T r e a s u r y C u r r e n c y H o l d in g s .— 1 he follow ing compila
T
Total._ 13,150,454 44,693.145 13,753,103 42,801.940 43,385,607
_
tion, based on official Government statements, indicates the
*Aot of June 20. 1874, and July 12, 1882.
currency holdings of the Treasury on the 1st of November
and December, 1902, and January and February, 1903.
F o r eig n T r a d e o f N e w Y o r k — M o n t h l y S t a t e m e n t . —In
addition to the other tables given in this department, made
t r e a s u r y n e t h o l d in g s .
up from weekly returns, we give the follow ing figures for
Nor. 1,1902 Dcc.l, 1902 Jan.1,1903 Feb. 1, 1908 the full months, also issued by our New Y ork Custom House.
The first statement covers the total imports and exports of
Boldinas in Sub-Treasuries—
»
»
»
t
N etg old coin and bullion............. 263,542,933 264,967,774 270.777,261 247,7-3,747 merchandise and the Customs receipts for the seven months
7,455,4 29 7,046,978 7,096,6H9 18,009,094 of the last two seasons.
N e t silver coin and bu llion ..........
1H1,485
132,574
47,722
8 ’ ,522
N et U. 8. Treasury notes..............
3,041,934 2.897,476 2.910,168 6,473,503
18,488,862 13,302,019 16,251,252 21.560,293
0,909,008 6,428,213 6,419,206 8,020,705

N et legal-tender notes ................
N et national bank n otes..............
N et fraction al s ilv e r .....................

Cash In Sub-Treasuries......... 194,463,478 294,778,944 303,687,163 801,913,664
A m oun tln national banks.......... 148,886,013 148,911,318 15J,2i6,699 157,098,225

M
erchandise M
ovement at New York. Customs Receipt*
at new York.
Imports.
Exports.

Mo n t h .

1902-03.

1001-02.

1902-03.

1901-02.

t
48,870,900
40,569.041
52,351,516
51,066,116
51.671,351
59,001.851
50,161,023

1
47,093,078
44,900,646
40,178,087
52,004,912
43,838.120
49,971.500
51,640,415

$
35,608,619
38,813,95)
40,857,460
40,200,610
39,700,121
49,550,240
47,022,744

41,004,877
39,646,072
39,460,634
44,679,832
39,337,307
43,128,142
42,352,46

Total... 359.001,820 3 ’9,627.550

;8B,8 49.750

Cash In banks & su b -trea s... 441,851,491 443,685,262 463,803,762 452,042,089

D e d u c t ourrent lia b ilitie s .* ....

84,929,613 89,109,674 89,894,872 88,696,126

Gold reserve fu n d .........................

856,421,878 854,576,688 364,409,380 868,845,968
160,000,000 160,000,000 150,000,000 160,000,000

Available cash balance.......... 206,421.878 204,676.688 214,409.880 218.845,963
* "Chiefly disbursing officers’ balances.”

B a n k N otes — C h a n g e s in T o t a l o f , a n d in D eposited
B onds , E tc . — We give below tables which show all the

monthly changes in Bank Notes and in Bonds and Legal
Tenders on Deposit. The statement for January, 1902, w ill
b e found in the C h r o n icle o f February 22, 1902, page 410.

In ly ..........
August......
September.
O ctober...
November..
December,
lanu ary...

1902-03

Bonds.

Jam 31..
Dec. 31..
Nor. 29..
Oot 31..
Sept 30..
Aug. 31..
Jnly 31..
June 30..
May 31..
Apr. 30..
Mar. 31..
Feb. 28.

Legaltenders.

$
342,903,520
344,252,120
343,018,020
338,452,670
326,052,770
322,941,680
318,588,480
317,163,530
316,196,180
317,484,130
319,526,330
322,575,030

$
43,385,607
42,801,940
43.754.103
44,693,145
43,150,454
41.875.104
42,369,417
42,433,280
43,137,347
41,874,007
40,016,025
38,359,943

C irculation A float Under
Bonds.

Total.

$
340,587,939
342,127,844
341,100,411
335,783,189
323,843,144
319,407,587
316,614,767
314,238,811
313,609,837
315,113,392
317,460,382
320,074,924

$
43,385,607
42,801,940
43.754.103
44,693,145
43,150,454
41.875.104
42,369,417
42,433,280
43,137,347
41,874,007
40,016,025
38,359,943

383,973,546
384,929,784
384,854,514
380.476,334
366,993,598
361,282,691
358.984.184
356,672,091
350.747.184
356,987,399
357,476,407
358.434,867

9

For full explanation of the above table see C h ron icle Dec.
1 4 , 1901, page 1232, first item in Financial Situation.
The following shows the amount of each class of bonds
held against national bank circulation and to secure public
moneys in national bank depositories on January 31.
Bonds on Deposit
Jan. 81,1903.

MONTH.

Imports.
1908-03.

Legaltenders.

V. 8. P onds Held Jan. 31,1903, to S ecu rePublic Deposits
in B anks.

5 p. ots., 1894, due 1904
4 per ots., funded 1907..
4 p. ots.. 1895, dne 1925
3 p. cts.,’98, due 1908-18
2 p. ots., 1900 due 1930.
8'65s Dlst. Col., 1924...
State & City.....................

$2,764,450
21,522,150
9,916,750
12,599,620
85,475,600
1,621,000
19,502,500

Total...........................

$153,402,070

B an k
C irculation.

$1,037,400
8,843,850
2,197,100
5,549,020
325,276,150

Total He to

$3,801,850
30,366,000
12,113,850
18,148,640
410,751,750
1,621,000
19,502,500

$342,903,520 $496,305,590

The foregoing does not include the bonds held in the
New York Sub-Treasury against deposits in banks. There
were so held on Jan. 81 $10,704,000 bonds, making the whole
amount at that date in possession of the Government as
security for deposits $164,106,070.
The following shows the amount of national bank notes
afloat and the amount of the legal-tender deposit Jan. 1
and Feb. 1, and their increase or decrease during the
month of January.
National B an k Notes—Total afloat—

Amount afloat Jan. 1,1903............................
Amount Issued during January..................
Amount retired during January..................

$4,917,038
5,873,326

Amount bank notes afloat Feb. 1 ,1 9 0 3 .
L egal Tender N otes —
Amount of deposit to redeem national bank
notes Jan. l , 1 9 0 3 .....................................
Amount deposited during January...........
Amt. of bank notes redeemed in January...

Amount of deposit to redeem national
bank notes Feb. 1,1903 .......................

■->384,929.784
956,238
*383,973,546

$3,104,408
2,520,741

$42,301,910
583,667
$43,385,607

The portion of legal tenders deposited (1) by banks becom
ing insolvent, (2) by banks going into voluntary liquidation,

~~t
15,923,581
16,228,701!
16,947,170
17,250,375
17,250,875^
15,061,742
15,616,118!

*

t
14,152,847
13.160,786
18,001,053
15,711,474
12,847,233
14,678,228
14,650,604

29I,I 09,191 115,’ 81,071 98,102,124
!

The imports and exports of gold and silver for the eeven
months have been as follows :
G o l d Mo v e m e n t

Bonds and
Legal Tenders on Deposit
fo r Batik C irculation.

1902-03. | 1901-02.

at

N ew Y o r k .

Si l v e r —n e w Y o r k

Exports.

1901-02.

*

1902-03.

Imports.

Inly........... .
August......
September..
(October......
November..
December..
January....

1
313,201
813,822
1,411,210
2,043,621
760,32 i
639,014
895,409

500,068
711,558
038,744
1,389,422
548,843
333,035
184,874

T o ta l...

6,765,686

Exports.

1902-03.

1901-02

1902-08.

4,317,169 12.185,446 27,614,878

t
3
7,557,092 1,486.015
1,607,043
473,825
18,200
88,476
219,746 3,104,781
480,464 15,760,086
2,308,308 4,091,900
36,584
1,950,766

t
280,970
249,3:8
824,606
122.377
472,581
600,328
269,491

(
1,910,200
3,372,161
3,583,007
2,991,920
2,819.107
0,613.113
8,046,075

2,234,718 24,341,239

D I V I D E N D S
Name 0] Company.

Per When
Cent Payable

R a ilr o a d s (S tea m ).
Canadian Paciflo, com ..............................
2>u Apr
do
do
pref..............................
2 Apr
Colorado < Southern, 1st p ref...............
fc
2 Apr
Del & Bound Brook, guar, (qu ar.)........
2 Feb
Grand Trank, gnar...................................
2 Apr
do
do
1st p ref............................. 2*» Apr
do
do
2d p ref............................. 2 ^ Apr
do
do
3d p ref............................. 1 Apr
Reading, 1st p ref..'...................................
2
Mar
B ank.
Broadway, Brooklyn (extra)................... 6 Feb
B dlsceiiaaeous.
Adams Express (extra)...........................
2 Mar
American Cereal (qnar.).........................
S Feb
American Coal...........................................
6 Mar
Barney & Smith Car, pref. (quar.)......... 2 Mar
Brooklyn Union Gas (qnar.)................... 2 Mar
B uttenck Co. (q n a r .)..;...........................
1 Mar
Calnmet & Heola M ining (q n a r .)......... $5 Mar
Consolidated Gas, New Y ork (qnar.)... 2 Mar
Fay (J. A.) & Egan, com. (qnar.)..........
1*« Feb
do
do
pref. (qnar.)......... 1% Feb
International Fire Engine, pref............ 3*2 Apr
North Amerioan Co. (qn ar.)................... It Mar
Quaker Oats, pref. (q n a r .)......................
l*u Feb
Railway Equipment Corp. (m thly).......
1*0 Feb
United States Envelope, pref.................
2*o Mar
Va.-Carollna Cliem., cbm. (quar.)..........
1*4 M a r

1
1
1
20
_

Books Closed.
(D a ys In clu sive.)
Mar 1
to
Mar 1
to
Mai 11
to
Holders of rec.

A pr 1
A pr 1
A pr 1
Feb 13

9 Feb 21

to

Mar 9

9 Feb

to

Feb

10
25
2
2
2
2
10
16
20
20
1
1
28
16
1
1

7

9

Holders of rec. Feb 20
Holders of rec. Feb 15
Feb 20
to
Mar 2
Feb 17
to
Mar 2
Feb 15
to
Mar 1
Feb 21
to
Mar 2
Holders of reo. Feb 15
Feb 27
to
Mar 16
Feb 10
to
Feb 20
Feb 10
to
Feb 20
Feb 11
to
Feb 20
Feb 21
to
Mar 2
Feb 19
to
Mar 1
Feb 15
Feb 21

to
to

Mar 1
Feb 28
t Also 1 per cent payable on first day of June, Septem ber and Decem ber.

Auction Sales.—Am ongother securities the follow ing, not
regularly dealt in at the Board, were recently sold at
auction,
By Messrs. Adrian H. Muller & Son:
Stocks.

Slocks.

150 Conn. < Passumpslo Rlv.
fe
10 Nat. Bk. of. Commerce..32173
KR Trust Co. receipts...... 100
10 U. 8 . Mortgage & Tr. Co.499
626 Hannibal Bridge Co...... 95
25 Guardian Trust Oo......200
1,000 Tol. & Wabash El. Co. 5
15 Title Ins Co. of N .Y ....1 5 9
550 111. & St. Louis Bridge
25 Liberty Nat. Bank......... 600
Co. scrip certlfs........ 916 lot
ft Northern Nat. Bank. ...17076
500 Keokuk & Hamilton
200 Pu ltnan Automatic Ven
Bridge Co........................ $150 lot
tilator Co.,................. $25 lot
200 Lincoln Safe Deposit
1 Saratoga Association for
the Improvement of
Co........................165** to 166
3 Kanawha Land Mining 1
the Breed of Horses ...145
5 Mutual Bank........ ........ 30 >74
110 N. Y. Phonograph Co.. ^
10 Bank of Amerioa............ 551
25 Central Realty Bond &
5 Solenoid Eleotrlo Co ..
10t
50 U. 8. Subway Co........... J
Trust C o .........................601
50 Bay Ridge Park Im
15 N. Y. Security <e Co..1,399
f Tr.
B on d s.
provement Co.......... $275 lot
$1,000 Chicago & Erie RR.
10 Sheppard Knapp & Co.,
non-cum. income 5s, Oot.,
preferred..................59 to 65
1891, coupons on..................$590
50 North American Trust
$58,000 Hudson Val. Ry. Co.
Company......................310
39 Mercantile Nat. Bank...347
consol 5s. 1951, J&J..531 to 55
*
10 Broadway Safe Dep. Co. 75
$20,000 Sloss Iron «S Steel
s
50 Title Guar. <c Trust Co.. 525
f
Co. 1st 6s, 1920.......109 to 109%

364

THE

CHRONICLE.

New York City C learing House H an k s.- -Statement of
condition for the week ending Feb. 7, based on average of
daily results. W e o m it tw o ciphers ( 0 0 ) i n a l l cases.
BANKS.

Bk. of N . Y .
Manliat. Co.
Merchants’
Mechanics’ .
Am erica___
Phoenix . . .
C i t y .............
Chemical ..
Merch. Ex .
G alla tin ___
But. & Drov
Mech.cfcTra.
G reenwich.
Leath.Mfrs.
7th Nat . . . .
Am er.Exch.
Commerce..
Broadway .
Mercantile
Pacific.........
Chatham . . .
People's . . .
N . America
Hanover . . .
I r v i n g .......
Citizens’ ..
Nassau ___
Mar.& Fult.
Shoe A LThr.
Corn Exch .
Oriental . . .
Imp. & Trad
Park ...........
East River
Fourth ___
C e n tr a l___
Second ___
First .........
N .Y .N t .E x .
Bowery . . .
N . Y . Co . . .
German Am
Chase...........
Fifth A v e ..
German Ex.
Germania ..
Lincoln.......
G arfield___
Fifth .........
Bk. of M et..
W est Side..
Seaboard ..
1st N.Bklyn
L iberty.......
N . Y . Pr. Ex
N ew Am st.
Astor .........
W estern ___

L oa n s.

S p e c ie .

C a p ita l.

S u r p lu s .

$
2.000,0
2,050,0
2,000,0
2,000.0
1,500,0
1,000,0
25,000,0
300,0
600,0
1,000,0
300,0
700,0
200,0
600,0
2,479,2
5,000,0
10,000,0
1,000,0
1,000,0
422,7
450,0
200,0
2,000,0
3,000,0
1,000,0
1,550,0
500,0
900,0
1,000,0
2,000,0
300,0
1,500,0
2,000,0
250,0
3,000,0
1,000,0
300,0
10,000,0
500,0
250,0
200,0
750,0
1,000,0
100,0
200,0
200,0
300,0
1,000,0
200,0
1,000,0
200,0
500,0
300,0
1,000,0
1,000,0
500,0
350,0
10,000,0

L e g a ls .

$
$
$
2.386,0 17,912,0
2,686,0
4.436.0
2,310,2 20,645,0
2,618,5
1,289,3 12,372,6
1,830,0
2,635,6 13,890,0
3,447,2 21,121,9
3,535,0
4,850.0
1,099,0
317,9
15,394,5 129,213,0 26,961,0
7,368,2 24,421,5
4,681,1
5,362,1
924,0
306,9
7,925,3
2,119,4
913,1
2,807,8
91,6
863,8
3,838,U
501,0
367,1
1,933,2
211,0
145,5
4.885,3
561,3
1,366,9
6,557,2
1,296,4
168,5
3,402,0
3,546,3 28,640,u
7,959.4 76,829,9 10,662,1
6,799,1
1,938,8
1,200,6
1,935,1
1,517,7 13,180,7
3,210,7
375,5
554,3
5,879,4
530,6
1,041,4
2,162,5
91,2
373; 3
1,654,7
2,026,1 16,856,7
9,679,5
6,061,7 48,529,2
5,847,0
1,033,5
786,8
6,014,7
1,253,1
632,8
2,729,0
445,4
307.3
6,510,4
963,5
1,095,2
1,502,0
307,4
5,423,6
4,286,0
3,225,5 25,150,0
254,2
2,148,0
419,2
6,433,2 22,791,0
3,651,0
4,624,8 52,076,0 12,535.0
182,0
1,335,8
149,0
2,786.9 20,906,8
3,354,8
9,353,0
2,356,0
622,6
9,427,0
1,317,0
1,222,3
12,831,7 82,932,2 15,471,2
5,725,9
1,054,0
357,5
2,631,0
322,0
774,3
3,964,3
611,2
748,1
629,2
3,683,6
460,1
3,383,9 39,096,0 10,175,6
1,591,2
9,319,8
2,469,1
175,0
634,7
2,475,3
3,146,9
411,9
837,6
9,890,6
337,7
1,218,8
7,208,5
1,672,5
1,309,9
411.2
2,354,6
525,1
1,286,9
7,892,8
1,522,7
525,0
3,067,0
490,5
1,214,3 12,808,0
2,292,0
4,258,0
496,0
550,6
1,805,4
9,055,5
1,611,1
4,152,9
545,7
453,3
1,189,6
577.6
6,878,8
4,686,0
902,0
485,9
2,500,0 50,189,5 18,663,9

t D e p o s its R e -

s’ v e.

P .C .
$
$
1,478,0 16,553,0 25T
2,117,0 23,884.0 27*4
1,193,8 14,246,2 26-7
1,908,0 14.312,0 2 6 1
2,486,8 23,786,1 2 5 3
4,988,0 29 3
363,0
6,758,6 117,156,1 28-7
2,465,5 24,500,0 29*1
5,803,3 25*8
576,3
5,665,1 27-4
52,2
3,578,7 25*6
4,011,0 2 0 0
302,0
1,252,2 26T
182,9
220,4
5,196,8 30*5
6,000,5 25 6
243,3
1,901,0 21,416,0 2 4 7
5,575,8 65,302,4 24*8
164,3
5,773,8 2 3 5
1,297,4 13,444,7 24*0
341,2
3,757,1 1 9 0
872,3
5,753,0 2 4 3
474,7
2,517,3 22M
1,704,9 13,785,3 24*3
6,351,4 57,711,0 27-7
4,998,0 2 5 0
464,5
465,0
6,784,8 25*3
340,7
3.330,8 2 3 6
664,0
6,732,5 24 T
188,0
6,463,0 2 6T
3,476,0 29,740,0 26*0
334.3
2,052,0 2 8 ’6
1,236,0 19,979,0 24*4
5,373,0 63,302,0 2 8 2
187,2
1,487,8 24*8
2,577,4 23,259-,5 2 5 ‘5
959,0 11,903,0 27*8
1,461,0 10,374,0 2 6 7
2,232,5 71.823,2 2 4 6
477,3
5,919,7 25-7
293,0
3.000,0 20*5
374,0
4,784,5 23*4
234,0
3,549,5 2 4 3
1,936,8 46.253,4 26T
223,3 10,354,2 2 6 0
996,0
3,470,3 3 3 7
495,0
4,825,1 18-7
2,229,0 10.739,6 23*9
290,0
7,382,1 26 5
129.5
2,559,0 2 5 ’6
866.6
9,041,6 26*4
297,0
3,309,0 24-9
1,818,0 15,182,0 27*0
567,0
4.345,0 24-4
325,0
7,638.7 2 5 3
384,9
3,902,0 2 3 7
821,2
7,755,2 25*9
291.0
4,835,0 24*6
2,894,1 58,720,0 36-7

Total . . . 109,651,9 120,640,0 924,958,6 178,014,8 75,575,9 19401801 26-9
t Total United States deposits included $40,088,000.

R eports of Non-M em ber Hanks.— The follow ing is the
statement of condition of the non-member banks for the
week ending Feb. 7, based on average of the daily results.

[V ol. LXXVI

New York City, Hoston and P h ilad elp h ia B anks.— Below
is a summary of the weekly returns of the Clearing House
Banks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.
W e o m it tw o c ip h e r s ( 0 0 ) In a l l th ese fig u res.
BANKS

C a p ita l <•
£
S u rp lu s.

N. Y .
Jan 17
Jan 24
Jan 31
Feb 7

224,216,7
224,216,7
224,216,7
230,291,9

L o a n s.

S p ecie.

886.054,1
890.448.1
904,510,7
924,958,6

$

$
168,241,4
177,170,0
182,672,0
178,014,8

77,253,7
77.448,0
78,153,5
75,575,9

52,322,0 187.955,0
52,322,0 188,705,0
52,322,0 189,083,0

17,088,0
16,590,0
16,180,0

$

C a p i
ta l.

S u r
p lu s .

D e p o s it w ith
L o a n s <•
£
L eg . T.
N et
S p e c ie . & B a n k
In v e s t
C lea r' g O th er D e p o s its
m en ts.
N o tes. A g e n t. B k s.& c

189,1
257,4
90,4
54.4
114,1
94,8
184,5
179,9
231.9
107.9
418.3
88,2
87,4
269,4
107,5
66,3
207,8
53,0
108,5
230,0

$
2,146,6
2,910,0
1,719,6
1,564,7
1,971,8
2,514,7
2,280,7
853,3
3,110,0
956,8
5,605,0
1,544.0
1,206,4
1,633,8
658,4
750,7
1,651,2
310,6
530,6
2,262,7

$
66,7
159,0
101,1
46,8
104,3
147,2
27,6
31,6
186,0
17,2
403,0
38,0
49,1
36,1
11,7
1,6
11,1
5,8
9,0
238,6

$
199,2
111,0
62,2
73.2
88,3
85,6
124,6
127,6
169,0
84,0
201,0
158,0
104,4
148,1
34.9
54,0
73,8
13,8
13,8
50,3

205,9
178,0
242,9
151 ,b
130,9
211,1
156,4
548,0
147,0
94,4
148,0
99,0
90,3
114,8
58,3
82,5
150,0
22,0
55,6
63,1

150,0
100,0
300,0
100,0
252,0
500,0
100,0
300,0
300,0
100,0
100,0
100,0
200,0
100,0
200,0
100,0

142,8
210,4
170,6
18,1
496.5
383,5
40,7
646,2
592,2
158,8
150,6
79.8
266,2
62,3
121,0
68,2

1,309,9
1,650,0
1,440,5
307,6
2,907,6
4,852,4
725,3
4,144,0
2,874,0
967,0
1,241,6
567,2
1,066,8
633,4
1,141,8
777,2

15,3
21,6
88,0
4,2
391,6
166,9
12,8
153,0
146,0
13,5
45,7
9,1
96,0
15,4
31,5
39,4

99,2
120,8
48.5
36,7
99.1
301,2
54,1
259,0
264,0
57,0
78,9
43.4
16,5
28,4
63,0
29,5

175,5
214,0
138,4
54,6
677,1
222,1
153,0
661,0
525,0
49,4
120,6
85,6
192,7
98.3
104,3
54,5

371,8

25,0
100,0

75,4
97,2

553,4
707,7

17,7
35,0

15,0
10,0

108,8
137,3

13,2

626,6
698,0

400,0 1,027,9

4,839,9

291,8

241,5 1,115,4

900,0

6,622,7

$
Colonial___
100,0
Columbia ..
300.0
14tli Street.
100,0
Gansevoort.
200.0
Hamilton ..
200,0
M t. Morris
250,0
Mutual ___
200.0
19th W ard .
200,0
P laza...........
100,0
Riverside ..
100,0
State .........
100,0
12th W ard . 200,0
23d W ard ..
100,0
Yorkville ..
100,0
F id e lity ___
200,0
Varick ___
100,0
Jefferson ..
400,0
Century . . .
100,0
W ash. H gts
100,0
United Nat. 1,000,0

$

$

$
150,0
3,0
11,8
5,0
o3, <
.4
627,0
32,0
1,8
5,3
3

$
2,430.0
2,974,0
1,973,4
1,641,2
2,015,7
3,059,6
2,279,0
1,982.8
3,308,0
980,7
6,626,0
1,758,0
1,389,7
1,657,6
636,1
754,0
1,456,3
219,0
408,5
1,338,9

B o r o u g h of
B r o o k ly n .

Bedford___
Broadway .
Brooklyn ..
8th W a r d ...
Mfrs.* N a t ..
Mechanics’
Merchants’ .
Nassau Nat
Nat. City ..
North Side.
Peoples.......
17th W ard .
SpragueNat
26th W ard .
Union...........
Wallabout .
B orou gh o f
R ic h m o n d .

Bk. of St. Is.
1st Nat., S.I.
O th er C ities.

1st N t., J. C.
Hudson Co.
Nat,, J. C.
2d Nat., J.C.
3d Nat., J.C.
1st N t., Hob
2d N at,,H ob

250,0
250,0
200,0
110,0
125,0

626,8
307,3
263,1
497,4
134,6

2,196,4
1,165,9
1,184,2
2,471,5
1,008,5

96,4
67,8
36,7
110,1
37,0

75,3
17,0
66.4
22.7
37,7

120,4
223,3
288,0
203,0
40,0

$

$
901,111,9
912,812,1
931.778,9
940,180,1

45,500,3
45,414.4
45.184.9
44,175,7

51,1
42,0
25,0
8,0
25,0
66,0
39,7
40,5
55,0
38,0
8,0
185,6
42,5

71,3
10,2
18,8
13,9
24.6

1,626,8
1,811,5
1,468,3
400.1
3,713,7
5,210,5
861,9
4,640.0
3,309,0
9 ot; o
1,348,6
598,1
1,028,0
685,8
1,214,9
776,5

1,798,5
1,044,1
1,367,3
2,253,4
1,051,0

Tot. Feb 7 8,612,0 9,778,4 76.915,4 3,637,0 4,061,7 8,712,3 2,940,5 83.950,8
Tot. Jan 31 8,712,0 9,829,4 78,019,2 3,688.9 4.269,2 8,282,4 2,338,0 83.515.4
Tot. Jan 24 8,712,0 9,829,4 ^77,886,9 3,879,7 4,527,2 8,445,2 2,128,2 84,247,9

C lea rin g s.

$
1.859,121.2
1,376,582,2
1.301.817.7
1,550,547,4

$

6,997,0 207.178,0
6,652,0 202.578,0
5,881,0 206,191,0

147.885.3
121,125.5
14 4,528,6

6 ,7 7 8 ,(

6,576,0
6,406,0

l ’ liila .

Jan 24
Jan 31
Feb 7

44,764,0 183,407,0
57,298,0
217,928,0 8,999,0 123,863,6
55,147,0
44,764,0 185,459.0
215,908,0 8,985.0 107,832,4
44,764,0 185,667,0
55.502.0
216,986,0 8,959.0 126,317.2
t Including for Boston and Philadelphia the item “ due toother hanks,’ *
and also Government deposits. For Boston these Government deposit*
amounted on Feb. 7 to $6,303,000 ; on Jan. 31 to $6,311,000.

Im ports and E xports for the W eek.— The following are
the imports at New York for the week ending for dry goods
Feb. 5 and for the week ending for general merchandise
Feb. 6 ; also totals since beginning first week January.
F O R E IG N IM P O R T S.
1903.

F o r w eek .

1902.

1901.

1900.

Dry Goods.....................
General Merchandise

$3,422,683
8,727.588

$2,655,533
7,578,891

$2,503,764
7,297,051

$2,586,296
9.009.829

Total................ .........

$12,150,271

$10,234,424

$9,800,S15

$11,596,125

Dry Goods.....................
General Merchandise

$19,297,583
51.185,091

$16,313,701
48,192,585

$14,151,428
47.212,281

$16,974,910
46,762.037

Total 6 weeks...........

$70,482,674

$64,506,286

$61,363,709

$63,736,947

S in ce J a n . 1.

The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Feb. 9, and from January 1 to date.
E X P O R T S F R O M N E W Y O R K FOR T H E W E E K .
1903.

1902.

1901.

1900.

For the week................
Previously reported..

$9,129,032
54,412,130

$10,456,603
45.263.71 5

$10 476,608
46,987.782

$9,631,143
48:438.939

Total 6 weeks...........

$63,541,162

$55,720,318

$57,464,390

$58,070,0S2

N ote .—A s the figures of exports as reported by the N ew York Custom
House from week to week frequently show divergence from the monthly
totals, also compiled by the Custom House, we shall from time to time adjust
the totals by adding to or deducting from the amount “ previously reported.’*

The following table shows the exports and imports of
specie at the port of New York for the week ending Feb. 7
and since Jan. 1,1903, and for the corresponding periods ia
1902 and 1901.
E X P O R T S A N D IM P O R T S OF S P E C IE A T N E W Y O R K
E xpo rts .

N . Y . C it y .
B orou gh s o f
M a n & B r 'n x

C ircu 
la tio n .

U os.

Jan 24
Jan 31
Feb 7

W e o m it tw o c ip h e r s ( 0 0 ) i n a l l ca ses.

BANKS.
00s omitted.

Dep o s it s .i

L e g a ls .

Gold*

W eek.

Great Britain ..................
France................................
G erm an y...........................
W est Indies.....................
M exico................................
South Am erica................
A ll other countries.......

I mports .
W eek .

S in ce J a n . 1.

S in ce J a n . 1 .

$245,110
$244,495

$5,439

$277,429

26,206
23,423
68,871
3,050

26,296
$244,495
4,293,514
10,000

Total 1903..................
Total 1902..................
Total 1901..................

$959,036
909,645
1,286,159

$8,720
12,270
129,702

46,755

$4,033
78.416
10,581
$93,030
109,053
422.654

$3,863,695
93,411

26,957

$366,660
82,073
324,971

$2,117

$277,429
6,249,550
8,164,069

$900,840
31,239

$31,735
20,617
77,151

6,603

Total 1 90 3 ..................
Total 1902..................
Total 1 90 1 ..................
S ilver.
Great Britain...................
France ...............................
Germany .........................
W est Indies......................
Mexico ..............................
South Am erica................
A ll other countries.........

$4,003,861
4,919,321
6,044.292

Of the above imports for the week in 1903, §6,750 were
American gold coin and ^1,935 American silver coin. Of the
exports during the same time §1,183 were American gold
coin and §25,562 were Am erican silver coin.
Auction Sales.— See page preceding.

^Banking autl ffiuatucial.
Spencer

Trask

&

Co.,

BANKERS,
2 7 d: 2 9 P I N E S T R E E T ,

-

NEW

YORK,

Transact a General banking business; act as Fiscal
Agents for corporations, and negotiate security
issues of railroads and other companies. Execute
commission orders and deal in
I N V E S T M E N T S E C U R IT IE S .
Members N. Y . Stock Exchange.

M o f f a t
M em bers N ew

Branch Office, 65 State S t , Albany,

&
Y ork

W
S tock

h i t e

,

E xch a n ge,

1 NASSAU STREET, CORNER W A L L ,

Dealers in Investment Securities.
Tel. 5820-5821 Cortlandt.

T e le p h o n e S lo c k s a S p e c ia lty .

THE

F e b r u a r y 14, 1903.]

CHRONICLE.

JPattluers' < j i x z z t t t •
K
g y For D i t i d e n d s s e e p a g e

363.

W A L L S T R E E T , K ill D A Y , F E B . 1 3 , l » « 3 . - 3

K. 01.

The Money Market and Financial Situation.—The re
duction this w eek b y the Bank o f G erm any o f its rate o f
discount from 4 per cen t to 3 % per cen t show s an easier
m onetary situation on the C on tin en t. W h ile the B ank o f
England has n ot taken sim ilar a ction (its official m inim um
being left unch an ged at 4 per c e n t), it is ob viou s that there
is no m on etary strain at present in Europe. The fa c t has a
btaring on the p rob a b ility o f an extensive gold outflow
from this side, in v iew o f the fa c t th at our foreig n e x 
change m arket has con tin u ed stron g th rou gh ou t the w eek.
I f the an th racite m iners cou ld be persuaded to a cce p t the
proposition m ade this w eek by President Baer o f the R ea d 
ing C om pany before the Strike C om m ission, it w ould p la ce
the anthracite trade in a better position than it has been in
for years. Mr. Baer w ou ld revert to the old plan o f fix in g
wages on a slidin g scale—to m ove up or dow n a cco rd in g as
the price o f coal advan ced or declined. Because o f the prom ise
of perm anent peace w h ich such an arrangem ent suggests, the
proposal is hailed w ith considerable delight. One o f the
other events o f the w eek in co n n e ctio n w ith the a n th ra cite
roads is the an n ou n cem en t that the Erie is to issue 10 m il
lions o f con vertib le bonds.
The open m arket rates fo r ca ll loans on the S tock E xchan ge
during the w eek on stock and bon d collaterals have ranged
from 2 to 3% per cen t. T o-day’s rates on call were 2 % t o 3%
per cent. P rim e com m ercial paper quoted at 4 % @ 5 % per cen t
The Bank o f E ngland w eek ly statem ent on T hursday
showed an increase in bullion o f £459,354, and the p ercen t
age o f reserve to liabilities was 49'28 against 48'69 last w eek,
the discou n t rate rem ainin g unch an ged at 4 per cen t. T he
Bank o f F rance show s an increase o f 2,800,000 fra n cs in gold
and a decrease o f 275,000 fra n cs in silver.
NEW T O R E CITY CLEARING-HOUSE BANKS.
1903
F eb . 7

D iffe re n ce s
fr o m
p r e v io u s w eek

1902
F eb. 8

1901
F eb. 9

$
9
$
84.822.700
109.651.900
Capital..................
120.640.000
101.760.000
Surplus................
Loans <>discounts 924 958.600 Inc 20,447,900 918.506.000
*
31.301.700
44.175,700 Deo 1,009,200
Circulation............
Net deposits........ *040,180,100 Inc 8,401,200 1,000 6-11,900
Specie.................... 178,014,800 Deo 4,657,200 193 038,700
76,028,000
76,576,000 Deo 2,577,600
Legal tenders.......

$
74.222.700
92,257,500
895,289,400
31,231,900
094,593,900
196,890 400
73.120.700

288,006,700
250,170,475

269,011,100
248,648,475

Reserve held........
95 p. a of deposits

253,690,700 Deo 7,234,800
236.046,025 Inc 2,100,300

18,545.875 Dec 9,335 100
17,890,225
20,862,625
Surplus reserve
*940,088,000 United States deposits lnolnded, against $40,169,600 last
week. With these United States deposits eliminated, the snrplns reserve
would be $28,667,675 on Feb 7 and $37,923,175 on Jan. 31.
{gOTR.—Returns of separate banks appear on the preceding page.

Foreign Exchange.— The foreig n e x ch a n g e m arket was
strong all the w eek, closin g at the high est. T he supply o f
com m ercial bills was fair. The in qu iry fo r rem ittan ce was
from all quarters and largely from interior banks to cover
previous short sales.
To-day’s (F rid ay’s) nom inal rates for sterlin g exch ange
were 4 85 fo r lon g and 4 88 for sight.
T o-d a y ’s’ (F ri
day’s) actual rates w ere 4 84% @ 4 8460 fo r six ty day,
4 8755@4 8765 fo r sight and 4 88@4 8810 fo r cables. C om 
mercial on banks, 4 8415@4 84)4, and docum ents fo r paym ent,
4 83%@4 84)4• C otton fo r paym ent, 4 83% @ 4 83%; cotton for
acceptance, 4 8415@4 84% ; grain for p aym en t, 4 8 4 % @ 4 84%.
To-day’s (F rid a y ’s) rates for Paris bankers’ fra n cs, lon g,
5 18%*@5 18%; short, 5 15%*@5 15% f.
G erm any bankers’
marks, long, 94 13-16@94%; short, 95%**@95 3-16. A m ster
dam bankers’ guilders, lon g, 39 15-l6@39 15-16^1; short,
40 3-16*<340 3-16.
E xchange at Paris on L ondon to-day, 25 fran cs 15% c e n 
times; w eek’s range, 25 fran cs 16 cen tim es high , 25 fra n cs
14% centim es, low .
The w eek ’s range o f exch ange rates follow s:
-S k o r t.-L o n g .-C a b le s .S terlin g A ctu a l —
H ig h ... I 4 8 4 5 0
® 4 8460 I 4 8755
® 4 8 7 6 5 I 4 88
4 8810
L o w .... I 4 84 30
® 4 8440 | 4 8725
4 8 7 3 5 | 4 8 7 7 5 ® 4 8785
Forts B a n k ers’ F ra n cs—
H ig b ... I 5 1 8 V
® 5 18*s I 5 1 5 V
® 5 15V I
............................
L o w .... | 5 18*4
® 6 18V* I 5 1 5 V
® 5 16 V I
........................
G erm any B a n k ers' M a r k s —
H ig h ... I 94>3ie ® 9 4 V
|
9 5 V * * ® 968ie |
................................
L o w .... | 9 4 18ie ® 9 4 V
I
95V
® 9 5 »la t |
................................
A m sterd a m B a n k e r s ’ G u ild er s —
H ig h ... I 3 9 l s u V 3 9 l8ie1l |
>
4 0 »,6* 3> 40S,6 |
................................
L o w ... . 1 39l5 ig* ® 3 9 1Bi e |
4 0 V * ® 40316« |
................................
L e a s : * V e of 1%. t Va of 1% . t 8aa of 1% . P i n s : U »19 of 1% . * *
of 1% .

The follow in g w ere the rates o f d om estic e x ch a n g e on
New York at the u nder-m en tion ed cities to -d a y : S avann ah ,
buying 50c. discou n t, sellin g 75o. p r e m iu m ; C harleston,
buying 1-16 d iscou n t, selling 1-16 prem ium ; N ew Orleans,
bank, $1 prem ium , oom m eroial, 25c. prem ium ; C hicago, 10c.
premium; St. Louis, 10c. d iscou n t; San F ranoisco, sight,
12%c., telegraphic, 15c.
State and R a ilro a d B on d s.— Sales o f State bonds on the
Exchange this w eek are lim ited to $50,000 V irgin ia 6s de
ferred Brown Bros & Co. certificates as fo llo w s: §20,100 at
11, $10,000 at 11%, $10,000 at 11% and $10,000 at 11%.
The railroad bond m arket has been gen erally a ctiv e and
strong. W abash debenture Bs have been the in terestin g
feature, advancing 4 points to 84% ; the close to day, h o w 
ever, was at 82%. Other stron g features have been the

365

A tch ison issues, the R eadin g issues and the U n ion P acific
issues.
United States Bonds.— Sales o f G overn m en t bonds at the
Board this w eek in clu d e $1,000 3s, r e g ., 1918, at 107%: $7,000
3s, cou p ., 1918, at 107%; $1,000 3s, cou p ., 1918 (sm all bonds),
at 107%; $1,000 4?, reg., 1907, at 109%, and $2000 4s., reg .,
1925, at 135%. The fo llo w in g are closin g q u o ta tio n s ; fo r
yea rly range see th ird page follow in g.
In te r es t
P erio d s

Feb.
7

F tb .
9

F eb .
10

F eb .
11

2s, 1030.
‘ 108*8 *108** *10814
,
2s, 1930.
*108*8 *108“ *108 *4
...... ...... ......
2s, 1930 .sma-Lreglstered.............| ........
_
2s, 1930 ,smaU_ cou p on ......................... . ......
*107 *107 *107
3s, 1918.
•107 *107 *107
8s, 1918.
3s, 1918, small.registered Q —Feb .......
8s! 1918! small...Tcoupon Ci—Feb *106»s 107*3 *108*s *100*3
*110
*110
4s. 1907.
109*4
*1 10
‘ 110
is, 1907.
*110
48, 1925.
135 *s *134*4 *134*3
*136*, *135*3 *135*3
4s. 1925.
* 102»4 *102*4 *102*4
5s, 1904.
*102*4 *102*4 * 102*4
68.1904.
*Thls Is the prloe bid at the morning board; no sa l* was made.

F eb.
12

F eb .
13

*103**
*108**
>*

e

*107
*107
*106*«

c
X

*1 10
‘ 110

‘ 134*3
*135*3
*102*4
*102*4

Railroad and Miscellaneous S tock s.— Further increase
has been sh ow n in the volu m e o f trad in g in the stock m ar
ket th is w eek ; transactions averaged m ore than 600,000
shares per day. D u ring the early part o f the w eek the m ar
ket was stron g, bu t late on Tuesday a re a ction a ry te n d en cy
appeared and values have been depressed and irregular
th rou ghou t the rest o f the w eek. On W edn esday the dulness w h ich usually precedes a h oliday prevailed. W abash
issues displayed stren gth ; the com m on advan ced fro m 30%
to 32%, but reacted to 31 and closed to day at 31%; the
preferred opened at 48% and m oved up to 53%, but, like
the com m on , reacted to 49%; the last sale to-day was
at 50%. The strength and a c tiv ity in Texas & P acific
have also been one o f the features o f the w eek ; the in itial
sale on Saturday was at 39%, a slight gain over last F rid ay’s
closin g; from that figure it advan ced to 43%. but dropped
to 41% to-day. St. Paul gained 2% points to 180%; in sym 
pathy, h ow ever, w ith th e rest o f the m arket it reacted on
W ednesday and ended the w eek at 178%. Other p rom in en t
stocks w hich have advanced are: A tch ison issues, D enver
& R io Grande issues, Missouri P a cific, N orfolk & W estern
com m on , R ock Island issues and St. L ouis & S outhw estern
issues. E rie issues closed low er than last week.
The con tin u ed strength in A m algam ated and A n a con d a
copper stocks has been an in cid en t in the industrial group.
A m algam ated a d va n ced fro m 68% to 71, but closed at
69%. A n a con d a opened at 109 and m oved up to 114%; in
the general declin e, h ow ever, it fe ll o ff to 109%. U nited
States L eather shares have been unusually prom inen t. G en 
eral E lectric has sharply a d v a n ced , rising from 192% to 202*
F o r daily volum e o f business see page 374.
The fo llo w in g sales have o ccu rre d this w eek o f shares not
represented in our d etailed list on the pages w h ich fo llo w .
8TOCK8
W eek E n d in g Feb 1 3

S ales
fo r
W eek

B a n g * Jot W **k

Allls-Chalmers C o ....—.,
383 18 F e b 11
Preferred......................
360 86 F e b 10
Amer Agrloul Chem......
700 25 F e b 10
Am. Steel Foundries....... 792 18 F e b 7
150 8 4 'a F e b 13
Amer Teleg & Cable.......
Butte rick Co.................... 200 52*4 F eb 10
100 165 F e b 13
Commercial Cable..........
100 64 F e b 18
General Chemical...........
Preferred......................
100 1 0 0 *4 F e b 0
Homestake Mining........
100 64 F e b 9
Laclede Gas (St. Louis). 325 9 0 F e b 10
Manhattan El rights_ 26,236
_
0*8F eb 7
New Central Coal...........
250 48> a F eb lO
800 25 F e b 11
N Y D o c k ........................
Preferred......................
137 67 F e b 11
Ontario Silver Mining...
10 5 *4 F e b 9
Plttsb Ft Wayne & Chic
83 191 F e b 11
United Fruit...................
200 1 0 9 L jF e b l3
U S Redno & Refining.. 600 3 4> sF eb 9
Preferred......................
350 54H »F eblO
Va Iron Coal & Coke___ 2,459 36 F e b 9

R a n g e Y ea r 1 9 02.

18 F e b 11
18 F e b
87 F e b 10
86 Jan
2 5 * tF e b 10
22 J an
19 F e b lO
16 Jan
*84*4 F e b 13
84*aF eb
Samian
6 2 7s F e b l l
165 F e b 13 165 F e b
60>aJan
64 F e b 18
100»« F e b 9 100 Jan
64 F e b 9
64 F e b
84 J an
91 F e b lO
6 7e F e b 10
6^Jan
48*2 F eb 10
47 J an
2 0 J an
31 F e b 13
57 F e b 11
51 J an
5*4F eb 9
5*4 F e b
191 F e b l l 189 >aF eb
1 0 9 * 3 F e b l3 109 *#F e b
S6** F e b lO
32 V a n
5 4 »sF e b
5 5 * « F e b lO
3 9 l4 F e b l l
36 F eb

10 >2Jan
87 F e b
2 5*4F eb
20 Jan
92 J a n
55 J a n
176 J a n
65 F e b
101 J a n
64 F e b
91 F e b
6 7*Jan
50 Jan
31 F e b
57 Jan
6 Feb
191 F e b
109*aFeb
3 5 **F eb
56 Jan
89 >4 F e b

Outside Market.—The m in in g stock s have again been the
m ost a ctiv e issues in the outside m arket. V alu es as a rule
have been firm , th ou gh at tim es considerable irregu larity
has been displayed. The appearance on the cu rb this w eek
o f a n um ber o f well-knowrn Boston cop p er stocks seems to
in d ica te that an effort is being m ade to establish a m arket
here for these securities. G reene C onsolidated evid en ced
decided stren gth in the early part o f the w eek and gained 2
points to 23; subsequently, h ow ever, it reacted and closed
to day at 21%. Tennessee Copper opened at 27% and ad
van ced to 30%; the last sale to day was at 29. On light
trading O sceola m oved up 4 points to 78, w h ile T am arack,
w h ich opened at 185, five points under last F rid a y ’s closin g,
advanced to 194, and then reacted to 190. U n ited Copper
opened on Saturday at 29% and on that day reached 29%;
on M onday, h ow ever, it dropped a b ru p tly to 26%, bu t
rallied the fo llo w in g d ay to 2 9 % ; the close to day w as at
27%. K itch en er M ining has also been an in terestin g feature :
the in itial sale on Saturday was at 6; from that figure it ad
vanced steadily and on the same day reached 7 % ; on Mon
day it rose to 8 % and to-day sold at 8. Bay State Gas dis
played d ecided weakness, d eclin in g from 1% to % . N orthern
S ecurities m oved up from 113%
G 4 , but on F riday b e 
cam e greatly depressed and sold o ff to 112%.
Standard Oil
was qu iet betw een 742 and 740. On heavy dem aud San
F ran cisco 4s gained 2% points to 83; the last sale to-day w as
at 81%. M arconi W ireless Telegraph gained 1 point to 6% .
Outside qu otation s w ill be fou n d on page 374.

New York Stock Exchange—Stock Kecord, Daily, Weekly and Yearly
O C C U P Y IN G
STO CK S—H IG H E S T A N D
S a tu r d a y
N eb. 7 ' f
c
*37
39
*68
70
87 % 8 7%
100*2 1 0 0 34
101*4 1 0 1 %
96*4 96*4
6830 08 78
140*4 140*4
(1 5 6 * 2 1 5 6 * 2
13630 137
*73
75
*183
188
5 1 78 5230
86*4 * 6*4
$ 7 1 % 7 1 7s
* 2 0 0 220
1 3 8 13 8
27*2 27 7e
*89*2 91
*82
86
4 5 ;*8 4 5 78
178*8179
*192
194
* 2 2 0 221

L O W E S T S A L E P R IC E S

M onday
F eb . 9

T uesd ay
F eb I d

W ed n esd a y
F eb . 11

T hu rsd ay
F eb . 1 2

*37
89
*68
70
8 7 % 8 8 34
1 0 0 % 101 *2
10 2 % 1 0 2 %
96*2 96*2
6 8 78 70
150 150
160 1 6 0
1 3 6 78 137%
74
74
184 1 8 4
5 2 34 53*2
36
3 6 30
7 1 34 72
*2 0 0 22 0
*125
140
2 7 7e 283e
*89*2 91
*82
86
45*2 463s
17S *2 18 0 5e
i 192 1 9 2
221 222

*3 7
39
*0 8
70
88*2 89*2
101*4 102*8
10230 ] 0 2 34
9 6 *2 9 6 *2
69*4 70*2
§148 148
*152
160
1 3 7 % 1 3 8 34
7 4 *2 7 4 *2
§183
183
5 2 34 5 3 %
36*8 3 6 34
7 1 % 72
•200 2 1 0
"1 2 0
130
28
28%
*S9*2 91
*8 2
85
45
46%
179*8 1 8 0 34
*192
194
219*2 220*2

*3 7
39
*68
70
88*4 8 8 %
100% 1 0 1 %
102*4 102%
96*2 96%
69 *4 69 %
140
150
"1 5 2
160
137 *2 138*4
*74
80
"1 8 3
188
52*2 52%
36
36%
72
72
*200 2 20
*1 3 3
140
28
28*8
*89*2 91
§ 3 4 % 81%
45% 45%
179 1 7 9 %
*192 1 9 4
"2 1 9 221

•
•
•
•
•
t
•
t
0
•
1
0
0
•
•
1
•
•
•
•
0
•
•
•
•
c
t
0
•
•
•
•
0
0

*37
39
*68
70
87% 8 8 %
i o o 36 101*0
x99% 100%
c 94*4 94*4
c
6 8 % 69 %
141
152
•152 1 6 0
136% 1 3 7 %
*75
85
"1 8 0 18S
51% 52%
3 5 % 35%
71% 71%
* 2 0 0 2 20
"1 3 0
140
27% 28
* 8 9 % 91
*82
S5
45% 45%
178 179*8
§193*4 193*4
219 221

30*2 3 0 %
30
30
30*4 3 0 %
30*8 30*2
71
71
71*4 71*4 *7 0 % 71*4
*70*2 71
45
45
45*4 45*2
45*2 45*2
45*8 45*2
4
181
180*4 1 8 0 34 180*2 181*4 1 8 0 1 8 0 3 * 1 8 0
.2 6 5
265
"2 6 0
270
*265 2 7 0
*265 270
42
4 2 78
4 1 % 42
41
43
40*4 40*4
89 3 9 0 %
4
89% 89%
8 9 7s 90*2
89
89*2
*43*2 46*2 * 4 3 % 46
*43
46
*43*2 4 6
1 8 7e 19
18*2 1 8 %
18*4 18%
18*4 18 *4
3534 3 5 34
3 5 34 36*4
3 5 % 36*2
36
36
*8 9 *2 8 9 34 §89*4 89*4
89*2 8 9 %
1 7 % *17*2 18*4 * 1 7 % 17%
*17
1 7 34 *1 7
2 6 % 27
26% 26%
26
26*2
*25*2 2G*4
41*8 41 34
40*2 413b
40% 41%
4 0 % 41%
725e 7 3
7 2 34 7 3 3s
72% 73%
72*4 73
6 1 % 63*2
63
6 3 34
6 3 *2 6 4 *8
61% 63%
70
69
69 *2 *6 9
68
68
6 9 3s 69 7e
*S 8
92
*89
92
*88
92
*89
92
68*2 69
68*4 68*2
*67*4 68*4
*200 206
*2 0 0 2 0 6
*2 0 0 2 0 6
2 3 % 24
23*2 24*2
105
10384 103*4 1 0 1 34 103*2 1 0 3
98
98%
9 7 7e 9 7 78
9 8 % 98%
1 4 6 146*4
146*4 1 4 6 78 146*4 147
45
45%
45
45%
44
4 5 78
74
74
7 2 7e 7 4
74
74
40
42
*4 2
45
4 0 % 41
7 9 38 79% *7 9
79%
79*2 7 9 34
34*2 3 4 % * 3 3 % 3 4 %
34*2 3 4 34
5 8 % 59
59*2 5 9 34
58% 5 9 %
36
3 7 5b
3 6 % 37%
3 6 % 37*4
*5 9
65
*59
65
*59
65
49
49
*47
50
*48
50
*117 123
§117 117
*116 123

*7 8
80
*78
80
1 2 5 34 12638 126*4 1 2 7 34
144*2145
1 4 4 34 145*4
121*4 12 2
§1 2 2 *8 1 2 2 *8
137
137*4 1 3734 138*4
*35
36*2 *36*2 38
*85*2 88*2
* 86*2 88
2 5 34 273y
25 % 2 5 34
* i0 7
108
* 1 1 6 121
*73*2 75
12 4 *2 1 2 4 *2
28*8 285s
6 0 % 61*4
112
113*4
4*107 * 108*2
2
*18*2 19
*3 7 *2 38
1 4 9 *2 150
, 42
42
*109
115
*82
86
1*220 2 2 2
34*8 34*2
74*4 7 4 6g
$ 9 2 % 9 2 c0
*69
71
*98
10 5
75
75
1 5 0 3 0 1 5 0 7e
*33
39
*80
82
•
85
*88
92
*108 114
63*2 643g
*88
89
*77
78
48
43%
81*2 815g
*14*2
• 55
:* 2 3

16
56
25

*78*2 80
*78% 80
127 127*2 1 2 6 % 1 2 7
1 4 4 % 1 4 5 % 144*4 1 4 5 %
1 2 2 122*4 * 1 2 1 % 123
137*2 1 3 8 *2 137 % 138
*35
36% *35
36%
* 86*2 88*2 * 8 5 % 9 0
26% 27%
26% 27%

i o 7 *2 i.0 7 % 107*2 1 0 7 % 1 0 7 % 107%
121
* 1 1 6 121
124*2 124*2 * 1 1 6
74*2 74*2
75
76
7 3 34 74
12 4 124*2 124*2 125*2 1 2 4 % 1 2 7 %
29*4 2 9 %
29*8 2 9 %
29
2 9 34
62*4 6 3 %
62% 6 3 %
61*2 62*4
113*4 H 4 34 1 1 4 % 1 1 5 % 1 1 4 % 1 1 5 %
1 0 9 * 8 1 0 9 % ♦109 1 1 0
108*2 109
19% 19%
1 9 % 19*2
1 8 7q 2 0
38*2 39
38
39
38
38%
150*4 1 5 1
150*4 1 5 0 % 1 5 0 1 5 0 %
43 % 43%
43*2 44*8
42*4 43
♦109 1 1 5
* 1 0 9 114*2 * 1 0 9 1 1 4 %
"8 3
8 5 ' *8 3
84%
*81
84
220 220
*220 223
*220 223
3 4 % 34%
34*4 3 4 %
3 4 58 3 4 %
75 % 76 %
75% 75%
75*8 76*8
92%
9 2 % 9 2% *91
*91*2 92*2
*6 9
70
69
69
*6 9
70
*98 105
*98 105
*98 105
78
75
75
*75
76*2 *7 5
151 151*2 1 5 0 % 151 *8 150*2 1 5 0 %
*35
39
*33
38
37
37
*80
82
*80
82
*79
82
* .......... 85
* .......... 85
85
92
*8 8
92
89*4 89*4 * 8 8
♦105 112
* 1 0 8 112
*1 0 5 1 1 1
6 3 % 65
63% 64%
64*4 65*4
88%
88*2 88*2 *8 8
8 8 3 89
4
78
*76
77%
77*2 77*2 * 7 6
5 0 % 51
50% 51%
48*2 50*2
82*4 83
81% 82%
81*4 8 2 34
68
68
6 7 34 C8
15
15
1 4 ‘ 14
*1 4
15
*55*2 56*2 * 5 5 % 5 6 %
55*4 5 6
24
24*4
24
2 4 % *23% 24%

BANKS AND
Banks
N E W YORK

I m e r ic a n . . .
A
lA m e r E x c h . .
A s t b r ..............
B o w e r y !] . . . .
B roa d w a y ...
iB u t c h ’ s & D r

8
Central.......

Century n»...

B id
1551
27 0
75 0
325
36 0
150
175
175
700
355
4300
190

B anks
C i t y ................
C o lo n ia l!) . . .
C o lu m b ia !] . .
280
1 0 0 0 C o m m e r c e ...
C o n s o lid a te d
C ’ r n E x c h g e !,
370
E ast R i v e r ..
170
E q u it a b le . . .
185
.......... F id e l i t y !] ___
F ift h A v e ! ) . .
F ift h ................
365
4 3 5 0 F ir s t ___ . . . . .
1 4 th S t r e e t ' .
200
A sk

B id
295
375
350
1324%
200
435
160
115
190
3700
>75
775
JOO

A sk
305

204
445

425

•
•
#
€
•
•
•
•
•
•
;
«
•
•
•
•
•
•
M
M
£
O
O
tr*
C
D
W
M
M
s
td
rH
H
r
H
i
•
•
•
•
t
•
•
•
i
•
•
*
•
•
•
•
•
t
•
t
•
•
•
•
t
•
•
•
•
•
•
•
•
•
«
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
l
•
t

*150 160
*192
195
1 8 % 18%
31% 34%
1 0 % 10%
*46
50
96
96
30
30*4
7 0 % 70%
45
45
1 8 0 182
*265 270
4 1 % 41%
89% 89%
*43
46
18
18%
36
36
* 1 7 % 18
27
27%
3 8 % 40%
70*4 72*4
5 9 % 62
68
69
*88
92
69
69
*200 2 0 6
104% 105%
98% 98%
1 4 5 % 146
45*4 45*4
"7 3
74
§42
42
79*4 79%
33
34
5 7 % 58
37
37
*60
65
*48
50
*116 123
*78%
125%
144
121 %
136%
35
*8 6
26%

80
126%
145
121 %
137%
35
90
27%

♦107 1 0 8
* 1 1 6 121
75 % 76%
127
128%
28% 29%
62% 63%
1 1 3 38 1 1 4 %
*109
109%
19*4 19*4
88
38
1 4 9 % 150
43
43
*109 114%
82
83
220 220
3 3 % 34*4
7 4 % 75%
*91
93
* 6 8 % 70
100 100
75
75
150 150%
*3 4
39
81% 82%
* .......... 85
*88
92
*108
11 2
62% 64
88
88
76
76
49
50%
81
81%
14
*55%
*2 3 %

14
56%
24%

PAGES

STOCKS
N E W Y O R K STOCK
EXCHANGE

F r id a y
F eb . 13

'1 5 0
360
"1 5 0 1 6 0
*150 160
* i5 5
160
*1 9 2
195
*192
19 5
* 192 195
*192 1 9 5
*18
19
19
19*e
1 8 % 1 8 5s *19*4 19*2
3 4 *2 35
34
3 4 78 §33*2 3 3 %
* 33*2 34*2
1 0 34 11
1 0 % 10%
11
11*4
11
11*2
50
*4 6
50
*46
50
46*8 46*8 "4 6
95% 95%
*97
98
0:96*2 96*2 * 9 5 % 96*2

102*4 102*4
*97*2 98
145*2146
44*4 44*4
*70
73
43
43
7930 793*
34
34
*58
59
36*2 36*2
*59
65
1* 4 7
50
• 115 1 2 2

TW O

R a n g e lo r Y ea r 1903
R a n g e fo r
S a les 01
On b a sis o f 1 0 0 -s h a r e lots
Y ea r (
th e
W eek
L o w est
H ig h e s t
L o w est
S h a res

R a ilr o a d s .
i n n A r b o r ...........................
A D o p r e f ..............
A tell. T o'p ek a & S a n ta F e. 1 0 6 ,8 3 0
D o p r e f ........................... 2 0 ,2 2 9
| > a ltim o re <fc O h i o ............ 4 1 ,0 7 0
2 .4 6 2
i > D o p r e f ...........................
B r o o k ly n R a p id T r a n s it .. 5 3 ,0 2 0
450
B u ffa lo R o c h . & P it t s b ’ g .
240
D o p r e f ...........................
/ C anadian P a c if i c .............. 3 7 ,5 7 5
500
t Canada S o u t h e r n ..............
190
C e n tr a l o f N e w J e r s e y .. .
( h e s a p e a k e & O h io ............ 2 7 ,8 0 0
2 ,7 6 7
C h ic a g o & A l t o n .................
1 ,025
D o p r e f ...........................
C h ic a g o & E a s t’ n I llin o is
i'0'6
D o p r e f ...........................
C h ic a g o G re a t W e s t e r n .. 1 0 ,5 0 0
D o 4 p. c. d e b e n tu r e s
50
D o 5 p. c. p r e f. “ A ” . .
4 ,5 0 0
D o 4 p. c. p r e f. “ B ” ..
5 1 ,6 7 0
C h ic a g o M ilw . & St. P a u l
35
D o p r e f ...........................
1 ,8 0 0
C h ic a g o & N o r t h W e s te rn
D o p re t
C h ic. R o c k Tsl’ d <fe P a c ifh 1
C h ic. S t. P . M in n . & O m .
D o p r e f ................
700
C h ic a g o T e r m ’ 1 T r a n s fe r .
2 ,0 2 5
D o p r e f ...........................
2 ,9 0 0
C h ic a g o U n io n T r a c t io n .
2 00
D o p r e f ...........................
700
C le v e . C m . C h ic. & S t. L .
D o p ref
1 ,4 1 0
C o lo ra d o & S o ., v o t . tru st
780
D o l s t p f . v o t. tr . cl’s.
1 ,5 0 0
D o 2 d p f. v o t . tr. c tfs
3 ,6 0 0
I Y e la w a r e cfc H u d s o n ___
2 00
l^ e la w . L ack . & W e s t’ n.
7 ,0 0 0
D e n v e r & R io G r a n d e ___
5 ,2 1 0
D o p r e f ...........................
......
D es M o in e s <fc F t. D o d c e .
2 ,6 1 5
D e tr o it S ou th , v o t. tr. c t f s
1 ,7 0 0
D o p r e f. v o t . tr. c tfs .
217
D e tr o it U n ite d
D u lu th So. S h o r e & A t l . .
i , 5 o’ o
D o p r e f ...........................
C n e ......................................... 2 3 2 ,0 2 5
1^ D o 1 s t p r e f ................... 4 6 ,0 7 0
D o 2 d p r e f .................... 4 0 ,4 5 0
2 ,9 6 7
E v a n s v . & T e r r e H a u t e ..
D o p r e f ...
900
Ft. W orth cfeD en . C .,s tro p .
......
G r e a t N o r t h e r n , p r e f ........
G r e e n Bay<fcW. del), r t f 4
113
Do
d e b . c tf. B
5 ,7 0 0
I T o c k i n g V a l l e y ................
3 ,4 0 0
l l D o p r e f ...........................
7 ,2 2 0
j llin o is C e n t r a l.................
2 ,7 0 0
I o w a C e n t r a l.......................
520
D o p r e f ...........................
1 ,5 6 0
fT 'a n a w ’ha & M ic h i g a n ..
1 ,3 0 0
IV c .F t.S .< & M .,tr . c ts . p fd
1 ,9 0 0
K a n s a s C ity So. v o t . t r . ..
1 ,5 0 0
D o p i e f . v o t . tr . c t f s .
6 ,4 0 0
K e o k u k D e s M o i n e s . ..
D o p r e f ...................
200
[ a k e E‘r ie & W e s t e r n ...
56
1^ D o p r e f ...........................
L . S h o r e & M ic h . S o u th ’ n
L o n g I s l a n d ............
8 ,3 0 0
L o u is v ille & N a s h v i l l e . ..
\ I a n lia tta n E l e v a t e d ... 3 1 ,6 0 0
1 ,1 2 0
^V l-etrop. S e c u r ., s u b . rec.
7 ,1 7 5
M e tr o p o lita n S t r e e t ..........
200
M e t. W e s t S id e E l. (C h ic .)
D o p r e f ...................
M e x ic a n C e n t r a l................. 2 6 ,1 5 0
M ic h ig a n C e n t r a l..
900
M in n e a p o lis & S t. L o u is .
1 U0
D o p r e f ...........................
2 ,7 7 5
M in n . S. P . & S. S. M a n e .
3 ,5 3 0
D o p r e f ...........................
M o. K a n s a s & T e x a s ........ 2 1 ,6 0 0
D o p r e f ........................... 1 9 ,6 0 0
M is s o u r i P a c if i c ................. 2 2 8 ,7 7 4
300
YT ash . C liatt. da S t. L o u is
a t. o f M e x ., v o t . tr. c t fs 1 6 ,6 2 0
3 ,1 0 0
D o p r e f., v o t . tr. c t fs
N . Y . C e n tr a l & H u d s o n .. 1 9 ,3 8 3
1 ,8 0 0
N . Y . C h ic. & St. L o u i s .. .
D o 1 s t p r e f .......... .
400
D o 2 d p r e f ....................
540
N . Y'. N . H a v e n tfc H a r t f.
2 4 ,0 7 0
N . Y . O n ta r io & W e s t e r n
N o r f o lk & W e s t e r n ............ 3 1 ,4 0 0
260
D o a d ju s tm e n t, p r e t.
1 00
p a c i f i c C o a st C o ................
100
I- D o 1 s t p r e f ....................
600
D o 2 d p r e f ...................
P e n n s y lv a n ia ........................ 0 a, 0 0 i
200
P e o r ia & E a s t e r n ...............
900
P o re M a r q u e t t e ...................
D o p r e f ................
10 0
P ilts b . C in . C h ic. &. St. L.
D o p r e f .......................
L> e n d in g , v o t ’ g tr. c t f s .. 9 4 ,3 5 o
1 ,8 5 0
-tV 1s t p r e f. v o t . tr. c t f s . . .
30 0
2 d p r e f. v o t ’ g tr. c t fs .
R o c k Is la n d C o m p a n y ___ 2 8 5 ,6 1 3
8 ,3 0 0
D o p r e f ...........................
600
R utland^ p r e f .......................
300
Q t . J o s e p h <feGr’ d I s la n d .
300
D o 1 s t p r e f ...................
700
Do
2 d p r e f ...................

3 9 % J a n 19
69 J a n 10
83 % J a n 3
99 J a n 24
9 9 % F e b 13
94 J a n 3
6 6 % Jan 3
124 J a n 8
145 J a n 10
131% Jan 3
71 J a n 14
180 J an 2
4 8 % Jan 2
34 % J a n 21
71 J a n 26
20 2 J a n 15
130 J a n 13
2 7 J a n 24
89 J a n 2
84 J a n 8
4 0 % J a n 15
1 7 6 % J a n 24
192 J a n 20
2 1 8 J a n 24
250 Jan 7
200 Jan 9
160 J a n 19
194 J a n 5
IS J a n 20
3 2 % J a n 21
8 % F eb 3
40*8 F e b 9
9 5 % J a n 23
118 Jan 8
28% Jan 2
69% Jan 2
4 4 % J a n 23
171 J a n 20
262% Jan 5
39*4 J a n 23
88 J a n 15
44 J a n 5
1 7 % J a n 19
3 4 J a n 14
8 8 ^ Jan 2
17 % J a n 2 6
2 5 J a n 26
3 8 % Jan 3
67 % J an 7
5130 J a n 2
663 Jan 2
4
91 J a n 8
62
Jan 7
200% J a n 8
85 Jan 9
23% F eb 9
96% Jan 2
9 5 % Jan 5
145% F eb 2
4 0 34 J a n 2
71 % J a n 2
4 0 F e b 10
7 8 % J a n 16
33
F e b 13
57% J a n 2
3 3 3 J a n 21
4

41 J a n 10
69 J a n 21
8 9 % J a n 10
i 0 3 % J a n 10
104 J a n 9
96% F e b 11
70 % J a n 9
150 F e b 9
160 F e b 9
138% F eb 10
78% Jan 5
190 J a n 19
5 3 % J a n 19
3 7% J a n 5
73 *8 J a n 7
210 F e b 5
138% J a n 29
29% Jan 9
9 0 % J a n 13
85% Jan 9
46% F eb 5
183% J a n 7
194% J a n 9
2 2 4 % J a n 14
250 J a il 8
200% Jan 9
162 J a n 21
1 94 J a n 5
1 9 % Jan 9
36 Jan 8
1 7% J a n 12
50% J a n 14
993gJan g
119 J a n 27
3 1 % J a n 10
72 J a n 9
48 Jan 8
183% F e b 2
2 7 6 % Jan 8
43 F e b 9
90% F eb 9
47% J a n 8
20% Jan 2
39% J a n 2
90 J a n 6
19% J a n 7
28% Jan 6
42% Jan 9
74 F e b 5
64% F eb 5
72% Jan 8
91 J a n 8
69 F e b 10
20 9 J a n 22
85 Jan 9
2 7 % Jan 5
105% J a n 19
98% F e b 11
151 J a n 10
4 8 J a n 12
773* J a n 12
,
47% Jan 6
81% Jan 2
3 6 % J a n 12
6 1 % J a n 22
37% F e b 4

47% F eb 3
118 F e b 6
334% Jan 5
80 Jan 5
1 2 3 % J a n 23
$ 1 4 4 J a il 30
119 J a n 31
136 J a n 30
35 F e b 13
88 J a n 20
24% Jan 2
12 6 J a n 14
10 7 F e b 4
1 2 4 % F e b 10
7 2 % J a n 21
122 J a n 21
2 7% J a n 31
5 8 % Jan 2
10 7 % J a n 3
1 0 5 % J a n 26
17% Jan 2
34% J a n 3
1 4 9 % F e b 13
41 J a n 26
116 J a n 2 3
82 F e b 13
§2 1 9 F e b 3
32 J a n 2
73% Jan 2
92 J a n 6
68 J a n 21
98 J a n 5
73% J an 6
14 9 3 F e b 2
4
37 J a n 23
79 F e b 2

53
11 8

Jan
F eb

8
6

83 J a n 7
130% Jan 8
155 % J a n 14
128% J a n 6
142% Jan 6
38 J an 8
88 J a n 20
27% F eb 9
135 J a n 15
11 0 J a n 9
1 2 4 % F e b 10
77 J a n 5
1 29 J a n 9
30 *8 J a n 5
6 3 % F e b 10
1 1 5 % F e b 10
109% J a n l 6
2 0 34 J a n 8
40% J a n 8
156 J a n 10
45 J a n 7
118 J a n l 6
87 J a n 19
2 2 5 % Jan 9
35 % F e b 5
76% F e b 10
93% F eb 2
72 J a n 10
10 0 F e b 13
7 6 J a n 28
1 5 7 % J a n 10
39 J a n 8
8 2 % F e b 13

87
F e b 3 94 J a n 7
110 J a n 8 115 J a n 17
5 9 % J a n 13 69% J a n 2
8 5 % J a n 13 8 9 % F e b 5
74 J a n 22 81 J a n 6
47 % J a n 21 5 3 % J a n 9
7 9 % J a n 24 86 J a n 9
65 J an 9 72 J a n 28
14 J a n 10 15 % J a n 2
5 4 J a n 8 58 J a n 5
23 % F e b 5 2 4 % J a n 19

33 F e b
63 Jan
74% Jan
9 5 % Jan
92% D ec
92
D ec
54% N o v
110 A p r
139 A p r
112% Jan
71 D e c
165 N ov
42% D ec
29% D ec
68 N o v
1 3 4 3^ J a n
1 36% S ep
22 D e c
89% N ov
81% D ec
33 D e c
LOO % J a n
186 Jan
204*e J a n
230 Jan
152 J a n
140 F e b
194% N o v
15 D e c
29 D e c
1 0 % Jan
44% M a r
93 N o v
118 J a n
14*8 J an
59% Jan
28 Jan
153 % N o v
231 N o v
| 35 *s D e c
8 6 % D ec
35 D e c
13 F e b
2G D e c
75 J ’ ne
10 Jan
1 8% J a n
28% D ec
60% D ec
41 % D e c
50 M ar
82 M ay
30 Jan
181% M ar
70 J a n
9 Jan
66 J a n
81 *8 J a n
137 J a n
35% D ec
65 N o v
33% Jan
75 D e c
19 Jan
44 Jan
13 J a n
45 Jan
40 D ec
12 0 O ct
32 5 A p r
7 2 % N ov
102% Jan
12 8 M a r
109% M ay
135 O c t
35 D e c
89 M a r
20% D ec
§150 M ai
Ii0 5 J a n
1 1 8 % J an
36% Jan
90 Jan
22 % D e c
51 J a n
96% M a r
80 Jan
c l4
D ec
3 L% D e c
147 N o v
40 N o v
110% N ov
80 " N o v
2 0 9 % J an
25 % D e c
55 J a n
90 F eb
65 D e c
100% Jan
72% D e c
147 Jan
30 N ov
71 F e b
80 M ay
80*8 Jan
113 M a i
52% M ai
79% M ar
60 J a n
33 % D e c
71 N o v
64 % D e c
10 D ec
49% D e c
24% N ov

4 8 34
77*8
96*8
106*8
1 1 8 *2
99
2%

M ay
M ay
Sep

Sep

Sep
Sep
J ’l y
128 A u g
145 S e p
1 4 5 *4 S e p
97
M ay
198
Jan
57 % Sep
4 5 % J ’l y
79
J ’ly
2 2 0 % J ’ly
151
J ’ly
35
Aug
95*4 J ’ ne
90*4 J ’ n e
51% Aug
1 9 8 34 S e p
2 u o 34 S e p
271
Apr
274*12 A p r
206
Sep
170% A p r
210
Apr
2 4 7e A u g
44
Sep
23
Apr
60
Apr
1 0 8 3s A u g
1 2 4 *8 S e p
3 5 34 J ’ l y
79*12 A u g
5 3 7e S e p

184*12 Jan
297
5 1 34
9 6 34
53%

F eb
Aug
Aug
J ’ ly

25

Sep

48*4 S e p
97
Sep

24

A ug

3 5 34 A pr

44 58 Jan
7 5 34 Jan
6 3 34 Jan
74 30 Mar
1 0 4 34 F e b
67 % D ec
203
D ec

90

May

2 9 * n Oct
106
Aug
983s D ec
1 7 3 *12 A u g
5 1 34 A u g
9 0 3s A p r
50*12 A u g
88
Aug
39
Aug
6 2 34 A p r

41 Sep
84 A p r
71*2 Jan
138 Feb
340 A pr
9 1 7 May
8
159*12 Aug
158 N ov
134*2 J ’ly
174 Feb
43 Jan
9 1 3 Mar
4
31 *8 Mar
192 A p r
115 A p r
1273 A pr
4
84 N ov
139 Sep
3 5 34 Sep
693 Sep
4
125*12 Sep
122 A pr
2 1 34 Sep
4530 Mar
168 7s Jan
57*8 Aug
124*5 Jan
100 Aug
255 A pr
37 % Sep
6 0 34 Oct
98 J ’ly
81*2 Sep
106 Mar
3 4 34 Sep
170 Sep
47 *2 A pr
85 *2 Sep
93 Sep
105 *2 Sep
128 May
78 *2 Sep
90*4 Sep
80 7 Sep
e
50*8 Deo
85 *2 Nov
125 A p r
24*4 A u g
81 *2 Sep

42

Sep

T R U S T C O M P A N IE S — B R O K E R S’ Q U O TA TIO N S
B id
230
425
140
500
160
350
600
350
170
635
650
235
Jefferson!]... i 60
Banks
F o u r t h ..........
G a l l a t i n ........
G a n s e v o o r t!]
G a r l i e l d ........
G e rm a n A m ',
G e rm a n E x '
G e rm a n ia !] . .
G r e e n w ic h n
H a m ilto n !] . .
H a n o v e r ........
Im p & T r a d .
I r v in g ..........

A sk
240
435
170

650
370
245
L75

Banks
L e a th e r M fr .
L ib e r t y ........
L i n c o l n ..........
M a n h a tta n !].
M a r k e t 65 F ul
M e c h a n ic s ’ .
M e c h & Tra!i
M e r c a n t il e . .
M erch E x ch .
.M e rch a n ts’ ..
M e tro p n e w ’
M t M o r r is !)..
M u tu al!|........

B id
300
tGOO
1050
325
260
2<5
8
160
13 4 7
165
185
500
.2 0
1305%

A sk I

Banks
Nassau^] ___
..........1 N e w A m s t e r
1150 N e w Y o r k Co
X Y N at E x.
34 0
270
N ew Y o r k ...
295
1 9 th W a r d !].
170
N o r t h A in e r .
N orth ern .
175
O r ie n ta l!].
P a citicij . .
190
. . . . . . P a r k ..........
240
P e o p le ’ s !!.
P h e n ix . . .

B id
195
540
1500
2 75
330
150
245
+170%
215
24 0
05 0
•290
125

A sk
205
575
100
340
255

670
3 00
135

B anks
P laza!j
P rod E x c li!].
R iv e r s id e !i ..
S e a b o a r d ___
S econ d
S e v e n t h ........
S h o e Sb L o th .
S t a t e !] ............
3 4 th S treet*
1 2 th W a rd !).
2 3 d W a r d !)..
U n ite d ............
Y a r ic k ! ; ........

A sk
B id
6 00
170
180
300
600
650
120
115
175
185
700
220
135
125
125
........ .
125
135
•210 22 0

b a s e ............
300
h a th a m . . . .
* B id a n d a s k e d p r ic e s ; n o s a le s w e r e m a d e o n th is d a y . 4 D ess th a n 100 s n a re s, i E x rig n e s. !| S ta te b a n k s, a E x d iv id e n d a n d r ig h ts . 0 N e w s to c k .
Chemical....
1 z a le t S t
c I n c lu d e s , p r io r to M a y 17, d e a lin g s m o ld M e x . N a t. t r u s t r e c e ip t s .
C it i S e n s ’a........ o c k E x c h a n g e o r a t a n c tio n th is w e e k , s T r u s t Co. c e r t ific a t e s .

February

14,

1 9 0 3 .J

S t o c k

STO CK S— H IG H E S T A N D
S a tu r d a y
*eb. 7

M onday
F eb . 9

LOW EST

T u esd ay
F eb . 1 0

W ed n esd a y
F eb . 11

SALE

R e c o r d —
P R IC E S

T h u rsd ay
F eb . 1 2

81
81
81 H
i
8 1 k 82
81k
8 1 k 82
83
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73'k 73 k
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2 7 k 29
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27 k 2 7 k
28k 29k
63
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64 k 6 5 k
6 5 k 66k
65 k 6 6 k
6 5 k 66 k
35 k 36
3 5 7q 3 6 k
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9 5 k 96
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111k 112k
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117k 117k
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31k 31k
1 9 6 k 201
1 8 k 18 k
73 k 7 3 k
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90 k
89 k 9 0 k
215
205
218
225
2 22
222

F rid a y
Feb. 1 3

C o n c lu d e d —

P a g e

STOCKS
N E W Y O R K STOCK
EXCHANGE

S an F r a n ........
8 0 k 8 0 k S t. L o u is
D o 1 s t p r e f ..................
81k 81k
D o 2 d p r e f ....................
*73
73 k
28
2 8 k St. L o u is S o u t h w e s t e r n ..
D o p r e f ...........................
62
62 k
63 k 65 k S o u th e r n P a c ific C o ..........
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94
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B A N K S A N D T R U ST C O M P A N IE S— B R O K E R S ’ Q U O TA TIO N S
Banks
B id
W a s h .H ’ htsT ‘2 00
W e s t S id e! .. 5 7 0
W e s te r n n ew 3S5
Yorkvillelj.. 37 5

A sk
....
395

BROOKLYN

Borough!]__ 100
Broadway' .. 3 0 0
Brooklyn!] .. 130
8 tli Ward], ..
75
F ir s t .........

37 5

Baulcs

B id

A sk

BROOKLYN

400

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M e c h a n ic s !] .
M e r c h a n t s ’ ..
N assau
N a t C it y ___
N o r t h Side!|.
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1 7 tli W a rd lj
S p r a g u e ___
2 8 th W a r d !].

325
220 k
110
350
305
215
‘2 0 6
130
20 0
135
Union!]...
140
W a lla b o u t ! . 105

T ru s t Cos.

A s k | T ru s t Co’s
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170
B r o a d w a y T r . 160
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K n ic k r b ’ k ’ r
C e n t r a l T r ’ st 2 0 0 0 2 0 5 0 L in c o ln T r . ..
M c V ’c k ’ rK ty
C ity T r u s t __ 3 9 0
400
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420
M e r c a n tile
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195
M e r c h a n ts * .
200
M e tr o p o lita n
E m p ir e S ta te 190
E q u it a b le T r 5 5 0
M o r to n T r u s t
M u t. A llia n c e
E xchan ge Tr
N. Y. CITY

375

320
230

160

B id

B id
A s k | T ru s t Co’s
1 4 5 0 1 5 00 N Y L ifecC T r
600
6*25 | N Y S e c a T r
730
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750
R eal E st T r ’ t
t 200
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T r Co of A m .
395
405
T rC oof R pbc
*270
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500
U S M tgdfc T r
1150
\ mt si ai' - .
335
V a n N ’d e n T r
710
720
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W in d s o r ........
290
270

B id
1225
11399
13 1 0
400
390
3UU
140
1410
14 9 9
1 690
260
420
25 5

A s k | T ru s t Co*s
1
BROOKLYN
1250
B r o o k ly n T r
F la t b u s h ___
F r a n k l i n ___
H a m ilt o n ___
3 0 5 i K in g s C o . . . .
L Is l L A T r .
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P e o p le ’ s ........
1715 j W illia m s b’ g .
267 k
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1 75
••••••
344
325
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320 k
250
350
255

j

* a * ? a s k e d p r ic e s ; n o s a le s o n th is d a y . $ L e s s th a n 100 sh i r e s , t E x r ig h t s , d B e g i n n i n g M a r c h 31 q u o te d p e r c e n t in s te a d o t d o lla r s p e r shares
1 S a le a t S t o c k E x c h a n g e o r a t a u c t io n th is w e e k , o E x s t o c k d iv id e n d , s T r u s t C o. c e r t ific a t e s . U B a n k s m a r k e d w ith a p a r a g r a p h (!]) a r e S ta te j .i u k J

New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
OCCUPYING FOUR PAGE**
BONDS
N. Y. STOCK E X C H A N G E
W eek E nding F eb 13
U. S. G overn m en t
U S 2s consol registered.(<1930
u s 2s consol cou pon ___(<1930
u s 2s consol reg small. .(<1930
u s 2s cousolcoupsniall.(<1930
u s 3s registered ............. fcl91S
u s 3s cou pon ....................AT918
u s 3s reg sm all bon ds., fcl918
u s 3s con small bonds..AT918
u s 4s registered ............. <il907
u s 4s c o u p o n ...................<11907
u s 4s registered................ 1920
u s 4s c o u p o n ..................... 1925
u s 5s registered................ 1904
u s os c o u p o n ..................... 1904 q - f
F o r e ig n G overn m en t
Frankfort-on-M ain 3 >gs ser 1.. M-S

BONDS
I'rice
Range
Week's
Frida u
Range or
Sinee
N. Y. STOCK E X C H A N G E
=
Feb 13
Last Sale 5 =0 January 1
W eek E nding F eb 13
But
Ask Low High So Low High Central of N J —(Continued)
108>4 109
108% 109

108% A u g’ 02
103% N ov’02
...

107
107

107% 107% D ec ’02
108 1 0 7 * 4 107*4
107 J ’n e'0‘2
107 > 107 >s
s
lo o >2
n o t 109% 109*4
no
no 1 10 > 109*4 Jan 03
2
134 > 135 >2 135 *s 13a %
2
137 130*2 N ov ’0’2
135 >
2
1024* 103% 103% Dec '02
102% 103*4 1037 N ov’02
8

107*8 1083
4
1, lo7*s 1<*7*s
l| 109*2 110*2
LOO3! 110*4
135*8135*8

953 .........| 95 H F e b '02
4
i

These arc price s on the Oasis oi tour marks to 0 ne do liar.
3 96*2 98 5s
9S%
U S of M exico s f g 5s of 1899 Q-J ......... 98*4 98%
7 hese are pr ices o n the b asis 0 / $0 to X.

S ta te S e c u ritie s
Alabama class A 4 to 5 ___ 1900
Class B o s ...........................1900
Class C 4 s...........................1900
Currency funding 4 s___1920
Dist of Colum bia 3'65 s___ 1924
Louisiana new consol 4 s .. 1914
S m all.......................................
M issouri fu nding___1894-1995
N orth Carolina consol 4 s .1910
6 s..........................................1919
So Carolina 4 %s 20-40........ 1933
Tenu new settlem ent 3 s ..1913
S m a ll...........................................
V irginia fund debt 2-3s. ..1991
R eg istered .................................
Os deferred Brow n Bros ctfs.

1043s Sep ’02
109*4 Oct ’00
102*2 M ar’02
111 M ar’02
120 Oct ’01
100*2 Oct ’ 02
109 *2 F e b ’99,

121

90
97

104 N o v ’02
130*2 J ’lv ’01
120 M ar’O
O
96*8 Feb ’ 03
9 4 *2 O ct ’ 02
98 *2 Oct ’02

l l 5 Sale
s

R a ilr o a d
labama Cent See So Ky
iaba M ldl See sa v Fla A V
A lbany A Susq See Del & Hud
A llegheny Valley See Penn RH
A lleg A W est See Bull R A P
Am D o c k * lm See C en tof X .1
Ann A rb or 1st g 4 s .........<il995 q - j
A tcli T & S Fe gen g 4 s ... 1995 A O
R egistered......................... 1995 A-O
Adjustm ent g 4 s .......... <il995 Nov
R eg istered .................. A1995 Nov
Stam ped....................<tl'J95 M-N
IChic & St Louis 1st Os..1915 (V 8
A tl K nox A N or 1st g 5 s ..l9 4 6 J-D
Atlanta A Danv -See South Ry
Atlanta A Yadk See South Ry
A ustin < N W See Sou Pacific
fc
at Creek A S See M id i Cent
alt & Ohio prior lg3*2S.1925 J -J
R eg istered ......................<il925 Q-J
Gold 4 s ............................ <tl948 A -0
R e g is te re d .................. <(1948 Q-J
Conv deb 4 s ...................... 1911 M-S
P Juu A M Div 1st g 3 >281925 II-N
R eg is te re d .................. p l9 2 5 Q-F
P L E A W V a S y s r e f 4sl941 M-N
Southw Div 1st g3>2S...1925 J -J
R eg istered .................. <1.1925 Q-J
M onon R iv 1st gu g 5 s .. 1919 F-A
Cen Ohio R 1st cg4>2S..1930 M-S
Beech Creek See N Y C & H
B ellev A Car See IBinoisCent
Bklyn A M ontauk See Long 1
Bruns A W est See Sav FI & W
Buffalo N Y cfe Erie See Erie
-S
Buffalo R cfe P gen g 5 s ... 1937 •M
A ll & W est 1st g 4s g u .. 1998 A O
Cl & Mali 1st gu g 5s___1943 J-J
Rocliife Pitts 1st g Os...1921 F-A
Consol 1st g Os............. 1922 J O
Buffalo A Southwest See Erie
Buff ife Susq 1st ref g 4s.i<1951 J -J
R egistered...................... rfl951 J -J
Bur Cedar R A N o 1st 5 s .1900 J-D
Con 1st (& col trust g 5 s.. 1934 A-0
R egistered......................1934 A-0
C R I F & X W 1st gu 5s. 1921 A O
M & St L 1st gu g 7s___1927 J-D
/ lanada South 1st 5s....... 1908 J-J
A^2d 5 s . . .............................. 1913 M-S
R egistered......................1913 M-S
Carb & Shawn See IB Cent
CarolinaCent SeeSeabA Roan
Carthage A Ad See N Y C A H
Ced R la F < N See B C R A N
fe
Cen Branch U P 1st g 4 s ... 1948 J-D
Cen Branch R y -See M o Pac
Central Ohio See Balti < Ohio
fe
Cen R R A B of Qa col g 5s 1937 M-N
Cent of Ga R R 1st g 5 s ..p l9 4 5 F-A
R eg is te re d ..................... p l9 4 5 F-A
Consol gold o s .................. 1945 M-N
R egistered......................1945 M-N
1st pref lftoome g 5s___p l9 4 5 Oct
2d pref incom e g o s ___j>1945 Oct
3d pref incom e g o s ___p l9 4 5 Oct
Chatt D iv pnrrnon g 4 s .1951 J-D
M ac (fe N or D iv 1st g os. 1940 J-J
Mid Ga A A tl D iv 5s___1947 J-J
M obile Div 1st g o s ....... 1940 J-J
Cent of N J gen ’ l gold 5s. 1987 J -J
R eg istered .................. <il987 Q-J
A m D ock A Imp gu 5 s .. 1921 J-J
Le (fe H ud R gen gu g 5s 1920 J -J

11

95 *2 Sale
102*2 Sale

95*2
192*4

1 1 34

95

50

97

12

A

B

92*4 Sale
‘ 91*2 92

1025s

12 94 7 90*4
96
s
102*2 160 102 1027
s

1025s 10 102*s 1025
s

913
4
92*4 31
94*2 A p r ’02
92
92 *s 29

111

.......

113

.......

93*4
94
94*2 J a n ’ 03

91*2 92%

114*2 Oct ’02

9334 Sale

91*2 923
4

93*4 94*2
94
94*2

1033b Sale 102 *2 1033s
101
102*2

105
*89

101 %103%
101 102*2

104*2 Jan ’03
90
90

104*2 106
89
90

90*2
963
4
88 5
s
89
90*4 J ’ly ’02
114*4 J ’ ne’02
108 S e p ’ 02

90*8 97*-.
88
89

118*6119*2 118*s F eb'03
101 ....
....
103 A p r ’97
■
125*4 ....
128 J a n ’ 03
1253s Jan ’ 03

118*8118*8

96
8 8 *4

9 0 *2
89 *4

108

120

. 100

103

128
125

J'n e’02

103*4 1 0 3 7g 103*4

12158 ....
114*2 .

104
105
108*4 1 0 9 *s

92

103*2
122 F e b ’03
120*2 F e b ’ 03
118 J a n ’02

1 0 2 34 1 0 3 * 2

104*8 104*4
1083 F e b ’03
4
1005s D e c ’02

23 103% 104*4
108*4 1087
s

933
4

107

. 121

121*2 122
120*2 120*2

9334

93*2 94*4

107*2 D e c '02
122*2 Jan ’ 03

122*2 122*2

108*4 108*2 49 100 109
105 >2 Sep ’ 01
79 *2 Sale
78
79*2 34 70*2 80
39 *2 Sale
397
s
37%
39 *2 152 37
4 25*2 27
‘ 26*2....... . 26*2
26*2
92 A u g’ 02
10S*4 Sep '02
102 J ’ ne’99
112*2 A p r ’02
133 134 133 F e b ’ 03
133 134
133*2 Jan ’ 03
132*2 133*2
113*4 113 113 >2
113*2 113*2
104 .
108*2 Sale

M IS C E L L A N E O U S
S tre e t B a ilw a y
Brooklyn Rap Tr g 5s....... 1945
A tl A v Bklyn imp g 5s. .1934
B k C it y ls t c o n 5 s .1916, 1941
Bk Q Co A S con gu g os. 1941
Bklyn O n El 1st g 4-5S.1950
K in gs Co E l 1st g 4 s___1949
Nassau E lec gu g 4 s ___1951
City A S Ry Balt l s t g 5s. 1922
Conn R y A L 1st A ref g 4 % s ’ 51
Den Con Tr Co 1st g 5 s ... 1933
Den Tram Co con g 6 s ..1910
M et R y Co 1st gu g 6 s.. 1911
Det Cit St Ry 1st coil g o s . 1905
Gr Rapids R y 1st g 5 s ...n l9 1 6
L ouis R y Co 1st con g 5 s .,1 9 3 0
M arket St C R y l s t g 6 s.. 1913
M et St Ry gen col tr g 5s. 1997
B w a y A 7th A v 1st e g 5s 1943

128
1253s

A O 107 Sale
J-J
J-J 110 .........
M-N 103 .........
F-A 101% Salt
F-A ......... 88
J-J
J-D
J -J
A-O
J-J
J-J
J -J
J-D
J-J
J-J
F-A .........117*2
J-D 116*4.........

11
106% 107
110 J a n ’99
1
110
110
102 J a n ’ 03
101% 102 ' '43
87
87
4
85% Jan ’ 03
99 % Oct ’02
95 J ’ne’O
O
103

N ov ’01

Leh & W ilks B Coal 5s.. 1912 M N 103*2......... 104 F e b ’03
103 >2 104
Con ext guar 4 * 2 8 ___</1910 Q- Mi 10 1 % ......... 102*4 102%
100% 102%
N Y & L o n g B r g e n g 4 s 1941 M- S ....................
Cent Pacific See So P acific Co
125 .........
Charles A Sav 1st g 7s___1930 J-J
Clies & Ohio g Os ser A . .A 1908 A-O 110*2 112 109% Nov'OL
11334 114
Gold 6s............................... al911 A-O L137 1 16 113% Jail ’ 03
8
118% 1 1 0 34
1st consol g o s ................... 1939 M-N .........1187s 118% 118%
110 ......... 121 J ’ ue’0 1
Registered...................... 1939 M-N
4
1033 100a
b
4
4
General gold 4 * 2 8 ..............1992 M-S 106% Sale 100 > 1063
103 A p r ’01
R egistered...................... 1992 M-S
Craig Valley 1st g 5s___1940 J - J 110 111*4 112 N ov’02
K A A Div 1st con g 4 s .. 1989 J-J *101*2......... 102 Feb ’03 ss 101% 102*2
90*4......... 90 Jan ’03
95
90
2d consol g 4 s ................ 1989 J-J
Warm Spr Val 1st g 5 s . .1941 M-S 108*2......... 100% O ct ’02
Greenbrier Ry 1st gu g Is ’ 40 M-N
101 D e c ’02
Clue & A lt RR s fund Os..1903 M-N
82% 8 3 *2 83% F eb ’03
82% 83%
Refunding g 3 s................ 1949 A-O
78
78%
77*2
7 7% 79%
Railway 1st lien 3 *2 8 . ..1 95 0 J -J
83% Apr ’02
R egistered..................... 1950 J-J
101 102
Chic Bur * Q consol 7s. ..1903 J - J 101% 102 101% 101%
104% A p r ’00
Chic & Iowa Div 5 s.........1905 F -A
101% Jan ’ 03
101% 101%
Denver D iv 4 s.................. 1922 F-A 100*8 .
90% F e b ’03
90*8Illinois Div 3*2- ...............1949 J-J
s
96% 97
R egistered..................... 1949 J-J
114% A ug’02
Iow a D iv sulk fund o s .. 1919 A-O 11238 4
104% J a n ’03
S in k in g fu n d 4 s.............1919 A-O 104 > .
104*8104%
108
108
107 108
Nebraska Extension 4s. 1927 M-N 108 .
109 % A u g’01
R egistered..................... 1927 W
l-N
LO
O 51ar’02
98 ;!b .
Southwestern D iv 4 s___1921 M-S
Joint bonds See Great North
107%
106% 107%
Debenture 5 s....................1913 M-N 107 Sale 107
117 1173
4
117% F e b ’03
Han A St Jos consol 6 s .. 1911 M-S 117*2119
4
n o 110 %
Clue A E 111 1st s f c u r 6 s . 1907 J-D 1093 110 >2 110% Jan ’03
1st consol g Os..................1934 A-O 136*2......... 136 D e c ’ 02
121% 11 1 2 0 * 1 2 1 %
2
General consol 1st o s ___1937 M-N 121*, 1215g 121
120 D ec ’02
R egistered......................1937 M-N
120% F e b ’03
Chic cfe Ind C Ry 1st 5s. 1930 J-J 120%.
i ‘2 0 " i'2 0 %
Chicago A Erie See Erie
Chic In A Louisv ret O s... 1947 J - J 1287 ....... 132 N ov’ 02
e
.........114
113*8 Jan ’03
Refunding g o ld 5 s...........1947 J-J
113% 113*8
Louisv N A A Ch 1st 6s. 1910 J - J 111 *2 114 111 % Jan ’ 03
110*8 111 *S
194% Oct ’02
Chic Mil & St Paul con 7s 1905 J - J
111*4 112*4 1 13% D e c ’02
Terminal gold 5 s............ 1914 J -J
General g 4s series A ..e l9 S 9 J - J ........ 111*2 111% F e b ’03
111*4 112
111 D e c ’02
R egistered................... el9S9 Q-J
104% Jan ’02
General g 3 * S series B .el9 89 J-J
2
R egistered................... el989 J-J
116*8....... 120% 5Iar’02
Chic A L Su Div g o s ___1921 J-J
Cliic A M o Riv D iv 5 s ... 1926 J - J .118*4....... 121% Oct ’02
113% 113*4
113% 115 113% Jan ’ 03
Chic A Pac D iv 6 s.......... 1910 J-J
117*4....... 11“
117
117 117%
Chic A P W I s t s S s ....... 1921 J-J
111% ...... 111*2 Jan ’03
Dak A Gt So g o s ............. 1916 J -J
111*2111*2
131*8....... 137*2 J ’ l y ’99
Far A Sou assn g Os....... 1924 J-J
119 120 119 F eb'0 3
Hast A D D i v l s t 7 s ....... 1910 J -J
119*8 119%
1st 5s................................1910 J-J 1 0 6 % ....... 107% AUg’ 02
191% Oct ’ 02
I A D Exten l s t 7 s .........1908 J-J
114% 117 110 Sep ’ 02
LaCrosse A D 1st o s ___1919 J -J
107*4........ 109 Oct ’02
M ineral Point D iv o s ___1910 J-J
113*8........ 113% 113%
So 51 inn D iv 1st Gs.........1910 J-J
112*2113*2
112*4 112*4
Southwest Div 1st Os___1909 J-J
112*8 113 112% Jail '03
1 16*8......... 118% N ov ’02
W is A Minn D iv g o s ___1921 J-J
4
M il A N o 1st 51 L 6 s .... 1910 J-D 1123 ........ 117 5Iar’ 02
1st consol 6s.................. 1913 J-I> 117 ....... . 120*2 A u g’02
133 134
133
Cliic A N ortliw cons 7 s ___1915 Q-F 133 Sale 133
Gold 7s................................1 9 0 2 J -D
103 N ov ’02
102 Oct ’02
R egistered..................... 1902 J-D
105 D e c ’02
Extension 4 s .........1886-1926 F-A 1 0 4
100% Oct ’02
Registered...........1886-1926 F A
General gold 3*2S............. i 9 8 7 jM-N 1 0 1 1 0 3 * 2 104% D e c ’ 02
R eg istered .................. »1 9 8 7 iy -F
103 N ov’ 98
Sinking fund O s...1879-1929,A-O 1 14 >2....... . 115% J ’ly ’02
R egistered.......... 1879-1929 A-O 112*2........ 111 Oct ’00
Sinking fund 5 s...l8 79-1 92 9| A -0 109*2 Sale i 09 % 109%
109*2109%
R egistered.......... 1879-19291 A-O 108 ....... . 107% Jan ’ 03
107*2107*2
Debenture 5s....................1909 M-N 106*4........ 108 Jan ’ 03
108 108
105 % Dec ’02
R egistered..................... 1909 M-N
112 112
Debenture 5s.................... 1921! A-O 110
112 Jan ’03
Registered......................1921 |A-0
114 Oct ’01
iY s " i t s '
Sinking fund deb o s ........ 1 9 3 3 IM-N 117*2 119 118 Jan ’03
R egistered..................... 1933 M-N
123 51ay’ 01
D e s 5 I o A 5 I in n 1st 7s.. 1907 F-A 109*2 . . . .
M ilw A 5Iadison 1st 6 s ..1905 M-S 106*4___
100 N ov ’ 02
Oct ’ 02
N orth Illinois 1st 5 s___ 1 9 1 0 M-S ........ 110
108
Ott C F A St Paul 1st os 1909 M- S 107*8___ 107 Oct ’02
Winona A St Pet 2d 7s. .1907 M-N 1 1 4 's ___ 110 * J ’ne’02
->
131% 132%
132% F e b ’ 03
Alii L S A W est 1st g 6 s 1921 M-N 1 3 2 % ....
122*2 125
E xt A Imp sfu n d g o s 1929 F-A 122*2___ 122% F e b ’03
Ashland D iv 1st g 6 s.. 1925 M-S 1 3 6 % ....
Feb ’02
142%
M ich D iv 1st g 6 s .........1924 J-J
134% . . . .
1 3 9 % Jan ’ 02
Convertible deb o s ___1907 F-A 102*2 .. . .
1 0 7 % F e b ’ Ol
In c o m e s ......................... 1911 M-N .........116% 1 1 4 % Sep ’02
127 127
Chic Rock Isl A Pac 6 s ...1917 J-J 1263 128 12 7 F e b ’ 03
4
Registered..................... 1917 J-J 126% 128 126*2 J a n ’ 03
120% 126*2
25 106 108
General gold 4 s.................1988 J-J 106 . . . .
106
106
R egistered..................... 1988 J-J
Jan ’ 03
107 107
107
J ’l y ’ 02
CoU trust Series C 4s ...1 9 0 5 M-N
100%
H 4 s ................................. 1910 M-N
J ’ ne’ 02
99%
51 4s................................. 1915 M-N
99% J ’ly ’ 02
X 4 s ................................. 1916IM-N
9 9 % J’ne’ 02
89
87 *4 Sale
87% 393 80
87
Chic R I A Pac R R 4 s ..2002 M-N
R eg istered .....................2002 51-N
88 '4 Jan ’0 3 ---- 88% 88%
96% .
Des 51 A Ft D 1st 4 s .... 1905 J -J
97 % D e c ’02!---93
96
1 st 2 *2S............................ 1905 J-J
93 Jan ’0 3 ___ 92% 93
J-J
95 *8 .
Extension 4 s ................ 1905
94% Jan ’ 03|___ 94*4 94%
Keok A Des 51 1st 5 s ... .1923 A-O
110% A p r ’02
Cliic A St L See A tch T A- Sa Fe
Cliic St L A N O See 111 Cent
Chic St L A Pitts See Penn Co
3 135% 136%
Cliic St P 51 A O con 6 s ... 1930 J D 136 136% 136% 130%
134% Jan ’03 . . . . 1343 134*4
4
Ch St P A M inn IstgG s 1918 M N *137
137% Sep ’0 2 ............................
Nor W isconsin 1st 6 s ...1 9 3 0 J J 134
St P A S City 1st g 6s. ..1 91 9 A O 126*2
1 2 6 % F eb ’03 . . . . 126 126%
Chicago Ter Trans g 4 s ...l9 4 7 i J J
84
84 I 3i| S4
S6
85

BO N D S—C ontinued on Next P age.

S tre e t R a ilw a y
.Met St R y—(Con)R e f g 4s2002
Col A 9th A v 1st gu g os. 1993
Lex A v A P F 1st gu g os 1993
110 110
Third A r e R R con gu 4s 2000
102 102%
Third A v e Ry 1st g 5 s .. 1937
10 L% 104 %
87
89% 51et W S FJ (Chic) 1st g 4 s . 1938
85*s 85*2 .Mil El Ry A L 30-yr g os. 1926
j
Minn St Ry 1st con g o s . .1919
St Paul City Cab con g os. 1937
G uaranteed gold o s .........1937
Union El (Chic) 1st g 5 s.. 1945
W Cliic St40-yr 1st cur 5 s .1928
40-year consol gold o s ... 1936

105

Frice
Week’s
Range
Range or
Friday
Since
*8 °
Last sale 5 < January 1
Feb 13
Bid
Ask Low High 5 0 Low Hioh.

107%

A-O
M-S
M-S
J-J

*96 .........
1 2 1 % .........
120 ^
98% 99
J-J 1 1 9 % .........
F-A *100% 101%
F-A
J-J *106*0 ...
J-J
J-J
AO
M-N
M-N

96
96*o
96*2
7 ' 95
121 J a n ’03 . . . . 121 121
..
121 D e c ’02
98*2
98% 106 ! 97% 98*4
25 119% 122
119% 120
102% Jan ’03
102*2 102*2
106 Oct ’99
110 J ’ ue’02
114*2Nov’01
109 % Dec ’99
99

D e c ’ 97

G a s and E le c tr ic L ig h t
109 Mar’98
Atlanta G L Co l s t g 5 s ... 1947 J-D
91% Oct ’98
Bos U Gas tr ctfs s f g 5s. 1939 J-J
117
117
21 117 120
J a n ’ 03 . . . . 116*4
116% 116% _
116*4 116% 10 ,___ _____ . Bklyn U Gas 1st con g 5 s .1945 I M-N ____________ 116%________________ _ 117
116*4 116*4

•No price Friday; latest price this week, a Due Jan

d Due Apr

e Dae May g Due J’ne < Due J'ly
t

k Due Aug

p Due Nor

gDue Deo ^Option sale

14,

1903. J

BOND*
N . Y. S T O C K E X C H A N G E
W e e k E n d in g F e b 13

B o n d
JnVst
P e r io d

F ebruary

C h ic A We.vt I ml

Q-M
J -D
>J J
j 1,\ . 0
.j . ,j
2 gold 4 Vs...................
(1
Cin D A, I 1st g u g 5 s ...
M-N
C I S t L & C S ee C C C Sc St I.1
Cin S Sc C See C C C St L
C lea rfield & M ali
B ft <fc P
1
1993 J -D
G e n e r a l g 4 s ..................
C a iro D i r 1 st g o ld 4 s . .1 9 3
J -J
> M-N
) vr.N
S p r & Oc
) j.j
W W Va
1M V
C I St L
> Q-F
o .p
J
.1 .D
.1 .T4
J -J
1. T
R e g is te r e d .

i

n..T
' A-O
A pr
A-O
C le v <fc M a rie tta
J -J
Q. J
C le v Sc P itt s

S ee P e n n C o
J -J
F-A

C olu m & G r e e n v S ee S o R y
C ol Sc H o c k V a i S ee H o c k V a
C ol C o n n Sc T e r m See N Sc W
C on n Sc P a s lt iv s 1st g 4 s . 194.':
ak Sc G t S o S ee C M Sc S t f
a lia s Sc W a c o S ee M K Sc 'i
D el L a c k Sc W e s te r n 7 s ...l 9 0 'J
M o r r is Sc E s s e x 1 st 7 s . . . 1 9 1 4
1 s t c o n s o l g u a r 7 s ........ 191E

P r ic e
F r id a y
F eb 1 3

R e c o r d —

W eek 's
R a n g e or
L a st S a le

B id
A s k \ ow
L
i l iy b
1 1 6 *4.......... 11 6 34 N o v ’02
106 .......... 109 ' A p r ’02
107 .......... 109 F e b ’ 03
1 1 1 V D e c ’ 01
113 O c t ’00
114
......... 115 J a n ’ 03

No

..........i b l *2 i0 2
83

....

L ow

109

1 1 4 V 115

,9 9 h 103
y
100 100
102 103*2

102*4 102*4

1 1 3 * 2 .......... 115 N o v ’02
134*8 J a n ’ 02
......... 131 *2 J a n ’ 03 . . . . 131*2131*2
132
..........133
104 V N o v ’ Ol
i ’0‘6 S ale
99
100
8 1 34
803-4 8 1 34 8 1 34
1 1 4 * 2 .......... 114 D e c ’ 02
121

.......... 128

79 > 8 0 ’2 8 0
2
9 1 S a le
90*4

12
14

9 8 V 100
78
82

J ’ n c ’ 02
80*4
91

15
66

78V
90*4

80V
94*2

A -O

D

N Y L a c k & W 1 st 6 s . .
C o n s t r u c t io n 5 s ..........
W arren 1st ref

R e g is te r e d .

D el R iv R R B r id g e

M -S
M-N
J -D
J -1>
J -D
J -J
F-A
M-N
A -O
F -A
M -S
M-S
A -O
A -O
AO
AO
M-N
M-N
J -J
J -J
J -D

I m p r o v e m e n t g o ld 5 8 ...1 9 2 S
R io G r S o g u S ee R io G r S o
D en Sc S W e s t g e n s f g 5s 192£ J -D
D es M o i Sc F t D S ee C R Sc I P
D e s M Sc M in n S ee C li Sc N W
D e s M o i U n R y 1 s t g 5 s . . 1917 M-N
D e t M Sc T o l S ee L S Sc M S o
J -D
J -D
D e t S o u 1 s t g 4 s ................. 1951 J -D
O h io S o u D i r 1 s t g 4 s . . . 1941 M S
A -O
A -O
J -J
D u l S o S h o r e Sc A t l g 5 s . J
J -J
a st o f M in n S ee S t P M
a s t T e n V a Sc G a See S o R y
E lg in J o l Sc E a s t 1 s t g 5 s . 1941 M-N
E lm C o r t < fc N o S e e h v k S c
M-N
M -S
MS
A -O
J -D
M -S
M-S
J -J
J -J
1st c o n s o l g e n lie u g 4s.
J -J

1 1 5 V .......... 117
1 3 3 * 8 .......... 133*4
135
134V
140

J a n ’ 03
115 117
J a n ’ 03 . . . . 13 2 34 133*4
J a n ’ 03 . . . . 134 V 134*2
O c t ’ 98

131*2 131*2 10
115 V A u g ’02
2
102*2 102*2
112 N o v ’02
102
F e b ’ 03 ••••
140*2 143*2 110*4 D e c ’02
149
A u g ’ 01
1 11*4 F e b ’ 03 . . . .
i i i * 4 ...
122 J ’ n e ’ 99
i o 7 7Q .......... 106 O c t ’ 02
1 1 1 V F e b ’ 02
14 3 34 N o v ’02
1 4 4 * 8 ..
142
147 *2 J ’ n e ’ 02

1 3 1 * 8 ..
112 *y
102 *2 S a le
1 1 2 V ........

102*2 1 0 3
102

111*4111*4

9 8 34
9 9 V 59 9 8
99V
1 0 5 34 F e b ’ 03 . . . . 104*4 1 0 5 V
1 105 1 0 7 V
107 V
107 V

99
S ale
105*2.
..........107 V
..........

1 31*2131*2

102

79*2 J a n ’ 03 —

77

79*2

1 0 5 V .......... 111

O c t ’ 02
A u g ’ 02
J a n ’ 03 . . .
84
3 89
91
F e b ’ 03 . . . . 114

80

F e b ’ Ol

98
.......... 102 V
92*2
93*2
84
.......... 84
91
91
S a le
113 .......... 114
i i i 34 i u 3* 112

J a n ’ 03 —

85
92
114

111V 114V

E

u i u ; cc n.1 le i s i g o n i o s ..iy e s z
Jeff R R 1 s t g u g 5 s ___ a l 9 0 9

G e n e r a l g o ld 5 s ..............1 94(
T e r m in a l 1st g o ld 5 s . . . 1943
R e g is $ 5 ,0 0 0 e a c h . . . 1943
W ilk Sc E a 1 s t g u g 5 s . l 9 4 2
E rie Sc P itt s See P e n n C o
E v a n s & T H 1st c o n s 6 8 .1 9 2 1
1 st g e n e ra l g o ld 5 s ..........]
M t V e r n o n 1s t g o ld 6 s . . 1
Sull C o B ra n ch 1st g 5 s . l ~ . , v
E v Sc In d 1st co n g u g 6s . . 1926
L 'a r g o Sc S o s e e C li M Sc s t P
-L lin t Sc F e r e M See P e r e M a r

1 1 2 * 2 .......... 1 1 4 V J a n *03 . . . . 1 1 4 * 2 1 1 4 V
1 1 4 * 4 ..........
1 1 7 78 ........
1 1 4 * 8 ..
1 1 8 * 8 ..........
1 0 5 V ..
1 3 8 34 ..........
9 8 V S ale
87

S ale

F -A
9 2 V S ale
J -D 1 2 8 131
J -J
J -J
M-N * ..........121*4
A -O 104*2 107
AO
194*2 135
M-N 1 1 4 * 4 .........
114
........
J -J
M-N 1 9 8 * 2 ..
2
A-O 1 1 2 * ..
J -J
111*2113*2
F-A 100*2 102
F-A 104 '• 106*2
2
M-N 1 1 5 * 2 ........
M-N
J -D i l l
115
J -J
A -O
A -O
A -O
J -J

12 0
105
n o
100
11 0

Sale
..........
..........
..........
..........

1 1 6 V D e c ’ 02
119*4 J ’ n e ’ 02
116*8 A p r ’ 02
117 D e c ’ 02
109*4 J a n ’ 02
139 " J a n ’ 03
139 1 3 9
1 3 6 S e p ’ 02
78 9 7 V 9 9
98*2
99
9 8 J a n ’ 03 . . . .
98
98
8 6 78
87*2 2 6 5 8 4 V 88
92*4
92*2 39 92
130 V J a n ’ 03 . . . . 129
121*2 J a n ’ 0 3
1 0 6 A u g ’ 02
134*2 F e b ’03
1 1334 D e c ’ 02
118*2 A p r ’ 02
109 O c t ’ 98
112 V D e c ’ 02
112 ~ F e b ’ 03
103 J a n ’ 03
106*2 J a n ’ 03
115 J a n ’ 03

G a s a m i E l e c t r i c L ig h t
Ch G L Sc C C o See P G cfc C C o
C olu m b u s G as 1s t g 5 s ___ 1932
C on n R y Sc L See S tr e e t R y
C on G as C o See P G & C C o
D e tr o it C ity G a s g 5 s ......... 1923
D e t G as C o co n 1 s t g 5 s . ..1 9 1 8
E d E l 1U B k n S r e K C o E L & P
fid E IB See N Y G Sc E L I I <fc P
E q G L N Y 1st c o il g 5 s . . 1932
fiq G Sc F u e l See P G Sc C Co
G as cfc E le c B e rg C o c g 5 s . 1949
G r K a p G L C o 1 s t g 5 s. ..1 9 1 5
K C M o G as C o 1 st g 5 s . . . 1922
K in g s C o E l Lcfc P g 5 s . ..1 9 3 7
P u rc h a s e m o n e y 6 s ..........1997
fid E l II B k n 1st c o n g 4 s 1939
Lac G as L o f S t L 1 st g o s . c l 919
M ilw a u k e e G a s L 1 s t 4 s . . 1927

J -J
J -J
FA

107
96

id lv m v

112
114
103 103
106V 1O 6V
lia
117
n o

111

1 120
2 105

122
105

111

J a n ’ 03 —

120
105
112

120
105
J ’ n e ’ 02

115

M a y ’ 02 . . . . •••••• ..........

.......... •mmmmm■••••••*
93

97 V
98
104 M a y ’ 02

M -S
J -D
F -A
A-O
A -O
A -O
J -J
Q -F
M-N

94*4
130 V

121*2 121 V

h lS C E L lA .N E O U ^

61 V O c t ’01
1 0 7 34 D e c ’ 00
.......... 124
120 J a i l ’ 03
94
9 6 4 9 7 4 S e p ’ 02
106 V S ale 106 V
107
9 5 J ’l y ’ 02

* N o price Friday; latest bid and asked this week. a D u e J a n

P a g e

2

BONDS
N. Y. STO CK E X C H A N G E
W e e k E n d in g F e b 13

3 6 9
£

J lig h

D e c ’ 02
N o v ’ 99

102*4 J a n ’ 03 . . . .

103

R ange
S in c e
J an u ary 1

....
. . . . 107

8
100
100*2
101 *2 O ct ’ 02
100 J a n ’ 0 3 . . . .
6
1023
4 103

1 0 0 Sale
100*2103
9 8 100
103 Sale

101

So
* *

C o n tin u e d —

F la C en & P en 1 st g 5 s . ..1 9 1 8 ! J
1 st la n d g r e x t g o ld 5 s . . 1 9 3 0 j
C o n s o l g o ld 5 s ................... 1943] j
F o r t S t U I) C o 1 st g 4 *
28.1941
F t W Sc D e n C 1 st g 6s .. 1921
F t W Sc R io G r 1 st g 3 4 s . 1928
/ 1al H a r Sc S A S ee S o P a c Co
lT a lH < fc H o f 1 8 8 2 1 s t 5 8 .1 9 1 3
G a Sc A la R y 1 st c o n 5 s . . o l 9 4 5
G a C a r Sc N o 1 st g u g 5 s . . 1929
G e o r g ia P a c ific S ee S o R y
G ila V G Sc N o r See S o P a c Co
G o u v Sc O a w e g a t See N Y C ent
G ra n d R a p Sc In d /tee P e n n R R
G r a y ’ s P t T e r m S ee S t L S W
G t N o r — C B Sc Q c o ll t r 4s 1921 J - J
G r e e n b r ie r R y S ee C lies Sc O
G u lf Sc S T 1 st r e f & t g 5 s 5 1 9 5 2 J - J
an Sc S t J o S ee C B & Q
o u s a t o n ic S ee N Y N 11 Sc H
J -J
J .J
R e g is t e r e d ____
A -O
H o u s t E Sc W T e x S ee S o P a c
H o u s t Sc T e x C en S ee S o P a c Co
llin o is C e n tr a l 1 st g 4 s . .1951 J -J
R e g is t e r e d ........................ 1951 J - J
1 st g o ld 3*28........................ 1951 J - J
R e g is t e r e d ........................ 1951 J . J
1 st g o ld 3 s s t e r l in g .......... 1951 M- S
R e g is t e r e d ........................ 1951 M- S
C o ll T r u s t g o ld 4 s ............ 1952 A -O
R e g is t e r e d ........................ 1952 A O
L N O & T e x g o ld 4 s . . . . 1953 M-N
R e g is t e r e d ........................ 1953 M-N
J -D
L o u is v ille D iv g o ld 3 V s- 1953 j - J
R e g is t e r e d ........................ 1953 J - J
M id d le D iv r e g 5 s ............1921 F-A
S t L o u is D iv g o ld 3 s ___ 1951 J - J
R e g is t e r e d ........................ 1951 J . j
G o ld 3*28............................ 1951 J - J
R e g is t e r e d .................... 1951 J - J
S p r in g D i v 1 s t g 3 V s . . -1951 J J
W e s t e r n L in e s 1 st g 4 s . . 1951 F -A
R e g is t e r e d ........................ 1951 F A
B e lle v Sc C a r 1 st 6 s ........ 1923 1J -D
C a rb Sc S h a w 1 st g 4 s . . . 1932 M- S
C h ic S t L & N O g 5 s . ..1 9 5 1 J-J)
R e g i s t e r e d ........................ 1951 J -D
G o ld 3*28............................ 1951 J -D
R e g is t e r e d .................... 1951 J -D
M e m p h D iv 1 st g 4 s . . . 1951 J -D
R e g i s t e r e d .................... 1951 J -D
S t L S o u 1s t g u g 4 s ___ 1931 M-S
I n d B1 Sc W e s t S ee C C C & S t L
I n d D e c Sc W 1 s t g 5 s ........ 1 935 J -J
1 st g u a r g o ld 5 s .................. 1935 J J
In d 111 Sc l a 1 s t g 4 s ..........1 950 J - J
I n t Sc G r e a t N o r 1 st g 6 s . . 1919 M-N
2d g o ld 5 s ..............................1 909 M -S
3 d g o ld 4 s .............................. 1921 M -S
I o w a C e n tr a l 1 s t g o ld 5 s . . 1 938 J -D
R e fu n d in g g 4 s ...................1951 M-S
J e ffe r s o n R R S ee E r ie
al A Sc G R S ee L S Sc M S
an Sc M ic h S ee T o l & O C
K C F t S Sc M See S t L Sc S F
K C & M R & B 1 st g u g 5 s . 1929 A -O
K a n C Sc P a c ific S ee M K Sc T
K a n C it y S o u 1 st g o ld 3 s . . 1 950 A -O
R e g is t e r e d ............................ 1 9 5 0 A -O
K e n t u c k y C e n t S ee L Sc N
K e o k Sc D e s M o See C R I Sc P
K n o x v il le Sc O h io See S o R y
I a k e E r ie Sc W 1 s t g 5 s . .1 9 3 7 J -J
i j 2 d g o ld 5 s .......................... 1941 J - J
N o r t h O h io 1 s t g u g 5 s . . 1945 A -O
L S h o Sc M ic h S S ee N Y C en t
L e h ig h V a l (P a ) c o ll g 5 s . 1997 M-N
R e g is t e r e d 5 s ...................... 1997 M-N
L eh V a l N Y 1 st g u g 4 * 8 .1 9 4 0 J - J
2
R e g is t e r e d ............................ 1940 J - J
L e h V T e r R y 1 s t g u g 5 s. 1941 A -O
R e g is t e r e d ............................1941 A -O
L eh V C o a l C o 1 st g u g 5 s . 1933 J -J
R e g i s t e r e d ............................1 9 3 3 J -J
L eh Sc N Y 1 st g u a r g 4 s . . 1945 M-S
R e g is t e r e d ............................ 1945 M-S
E l C Sc N 1 st g 1 st p f 6 s . 1914 A-O
G o ld g u a r 5 s .................... 1 9 1 4 A -O
L eh < H u d R S ee C e n t o l N J
fe
L eh Sc W ilk e s b S ee C e n t o f N .J
L e r o y Sc C a n e y V a l S ee M o P
L o n g D o c k S ee E r ie
L o n g I s la n d 1 st c o n g 5 s . h 1931 Q -J
1 st c o n s o l g o ld 4 s .......... /i l9 3 1 0 - J
G e n e r a l g o ld 4 s .................. 1 9 3 8 J -D
F e r r y g o ld 4*28.................. 1 922 M -S
G o ld 4 s ....................................1932 J -D
U n ifie d g o ld 4 s .................. 1 949 M -S
D e b e n t u r e g o ld 5 s ............1934 J -D
B k ly n & M o n t 1 st g 6 s . . 1911 M-S
1st 5 s ................................... 1911 M -S
N Y B Sc M B 1 st c o n g 5s 1 935 A O
N Y Sc ft B 1 st g 5 s ........ 1927 M -S
N o r S h B 1 st c o n g g u 5 s o l 9 3 2 Q-J
L o u is v Sc X a s h v g e n g 6 s . 1 9 3 0 J -D
G o ld 5 s ...........
1937 M-N
U n ifie d g o ld 4 s .................. 1 9 4 0 J - J
R e g i s t e r e d ........................ 1940 J - J
C o ll t r u s t g o ld 5 s ...............1931 M-N
C o ll t r u s t 5 -2 0 g 4 8 .1 9 0 3 -1 9 1 8 A -O
C e c ilia n B r a n c h 7 s ..........1907 M -S
E H Sc N a s h 1 st a 6 s ___ 1 919 J -D
L C in Sc L e x g o ld 4 Has... 1931 M-N
N O cfc M 1st g o ld 6s ___ 1 9 3 0 J -J
N O & M 2 d g o ld 6 s ........ 1 9 3 0 J -J

I 'n e t’
F r id a y
F eb IS
R id
10 6
103
105 V

W eek 's
R a n g e or
L a st S a le

R ange
\S%\\
S in ce
hC a. J a n u a r y 1

A s k IjOW
H ig h \M o L o w
100 S ep 0 0 L . . .

106*2 F e b ’ 02
105 M a r ’ 98,
112V
1 1 1 1 1 1 2 V 112*2
*
86 *2 D e c ’ 02
103
110
109

H ig h

1 110*2112*4

103 D e c ’ 02
111
N ov*02
1 1 0 V J a n ’ 03

106

9 4 V 27 6

94

94 V S ale

93

94 V

..........104

H

I

10 8

109

108V

109

29 1 0 6 34 109 V
1*0 *4 105*4
*5

105 V D e c ’ 02 —
1 1 2 * 4 .......... 112*4 J a n ’ 03
113 V M a r ’ OO
104 " D e c ’ 02
.......... 10 3
102 V A p r ’ 98
i*0334 .......... 103 V
102
1 0 3 V 1 0 3 34 103
104V
i ds
..........
.......... 9 6
98 V

112*4 112*4

J a n ’ 03 . . . . 103 V 1 0 3 V
O c t ’ 01
'1 0 2 V 103
F e b ’ 03
M ay ’ 02
N o v ’ 02

1 1 3 * 2 .......... 123 M a y ’99
8 7 V M ay ’ 02
98*4
101 V
100
1 0 8 V .......... 111

O ct ’ 02
O c t ’ 99
N o v ’ OO
J a n 03

111

111

120

M a y ’ 01
X o v ’ 98
J a n *03
*125 V 1 2 5 V
N o v ’ 02
A p r ’ 02 . . . .
....
106 *8 J a n ’ 03
;i 0 6 V 1 0 6 V
.... 1
......................
101 M a r ’ 02

1 0 7 V ..........
105
..........
100 v i o l
12 0 122*2
9 9 V Sale
.......... 71
.......... 115 V

110
107 V
100 V
120*4
99 V
71
115 V
93 V

.......... 124
90
1 2 4 V 1 2 6 V 125 V
126*4
104 V

D e c ’ 02
D e c ’ 02 . . . .
J a n ’ 03
lid o
ib o 4
120*4 10 120 121 7c
10 0
9 9 V 16 9 8
F e b ’03 ___
70
71
F e b ’ 03 ___ 114 V 1 1 5 V
1 92
93*2
93 V

K

106

..........

70

23 4
69 V
70
63*4 O c t ’00

S ale

1 1 9 V S ale 11S34 U 9 V
113 V J a n ’ 03
113 V
11 4
.......... 114
114

69

70

16 11 8 V 120
113 V 113 V
1 114 1 1 4 V

105

.......... 110 V F e b ’ 02

10 8

108V lo g
109 V
.......... 117 4
109 V
.......... 108 V

J a n ’03
J ’ n e ’ 02
D e c ’ 02
O ct ’ 99
S e p ’ 02

so 1 0 8

..........

J a n ’ 03

97

97

118

118

115
106
96
101
*112

97

i*08V

..........
.......... 1 0 1 V S ep *99

..........12 0

118

J a n ’ 03

101*4 Sale

101*4
103
lo o
1 00
111

102
M a y ’0 2
O c t ’ 00
F e b 03
J a n ’ 02!

9 9 V 10 0
106
112
112
110
1 17
112
100V

..........
..........
..........
..........
........ *
.
114
Sale

1 1 1 V ..........
101
..........
i b S * 4 ..........
...... ......

8 101*4 102*4

...
99 V 1 0 0 V

....
109 *o j ’ u e ’ Oi
112 M a r ’02
112 V J a n ’02|
112 V A p r ’ 0 2 ' . . . .! ••••••••••••
1 1 5 V J a n *03' . . . . 115 V 11 5 V
112
F e b *03
1 1 1 V 112
10034 1 0 1 VI 18‘ 9 9 V 1 0 1 V
100 J a n ’ 02
112 J a n ’0 3 1 . . . 112
.
113 V
101
101
5 100 101
106 D e c ’ 00
112 D e c ’ 0 2 1
108*4 J a n ’ 03
1*08*4 i0 8 *4
126 V F e b ’ 03
1 2 6 V 129
124 V A p r ’ 02 - . . . 1 . . . . . ..........
1.

B O N D S — C o n t in u e d o il N e x t P a g e .

G a s a m i E le c t r ic L ig h t
M u t F u e l G a s C o S ee P e o p G as
N e w a r k C o n s G a s c o n g 5s 1 9 4 8 J
N Y G E L H i f c P g 5 8 .. .1 9 4 8 J
111
P u r c h a s e m o n e y g 4 s . . .1 9 4 9 F
E d E l 111 1st c o u v g 5 s . . 1 9 1 0 M
9 96
99
i0 (T
1st c o n s o l g o ld 5 s ........... 1 9 9 5 J
118*2
N Y & Q E l Lcfc P 1 st c o n g 5 s l9 o 0 ] F
P a te r s o n cfc P G cfc E g 5 s . 1 949 M
P e o G a s cfc C 1 st g u g 6s . . 1904 M
102*8
2 d g u a r g o ld 6 s ....................1904 J
102*8
1 st "con g o ld 6 s .................... 1943 A 0
R e fu n d in g g o ld 5 s .............1947 M S 105
C h G -L cfc C k e l s t g u g o s 1937 J J 10 8
C o n G C o o f Ch 1st g u g 5 s . ’3 6 J D 10 8 V
J J 102 V
. . . . 120 120 |
M u F u e l G a s 1st g u g 5 s . 1947 M N *
11 106 V 1 0 8 4 T r e n t o n G <fc E l 1 st g 5 s . .1 9 4 9 M -S
U tic a E L cfc P 1 st s f g 5 s.l95U | J - J
b Due Feb

d D ue A p r

*D u eM ay

A Due .J'ly fc D u e A u g

1 1 1 34 F e b ’ u j

94V

125
Sale
104
105

0 D ue

95
31 94 V 97 *
4
94V
1 0 5 V D e c ’ 02
119 J a n ’ 03' !! i ‘1’9 ” ii<T*
107*2 J a n *03 . . . . 107*2101*2

J ’ ne'02|
.1 0 4
.1 0 2 * 8 F e b ’ 03
125*2 J a n ’0 3
J a n *03
.1 0 5
109 D e c ’ 02
1108 *2 108*2]
1102*2 J a n ’ 03
104 J a n ’ 03
109 F e b ’ Ol
Oct

j D ue Dec

. ! 102*8102*8
..1 1 2 4
125*2
..1 0 5
1 05
5 1 0 8 * i o 8 *2
..1 0 2
102*2
.. 10 4 105

s Option sale

3?
B o n d

3 7 0

BONDS

L o u is v & N a s h v —( C o n tin u e d )
P e n s a c o la D i v s o ld 6 s . . . 1020
S t L D iv 1 st s o ld 6 s ........ 1921
2d s o ld 3 s . ; ...................... 1 9 8 0
H e a d e r B d g e 1 st s f g 6 s . 1931
K e n t u c k y C e n t g o ld 4 s . . 1 9 8 7
L<S N a M .v M 1 st g 4 * s s 1 9 4 5
N F la tfc S 1 st g u g 5 s . . .1 9 3 7
P e n s & A t l 1st g u g 6 s . . 1921
S & N A la c o n g u g 5 s . .1 9 3 0
■
S in k fu n d g o ld 6 s ..........1 9 1 0
L <fc Jett B d g e C o g u g 4 s . . 1 9 4 5
L N A & C h S ee C I & L
a h o n C oal S ee L S <fc M S
a n h a tta n R y c o n s o l 4 s .1 9 9 0
R e g is t e r e d .................... 1 9 9 0
M e t r o p o l E l 1 s t g 6 s ___ 1 9 0 8
M a n S W C o lo n iz g 5 s ___ 1934
M c K ’ p t < t 'B V S ee N Y C en t
M e tr o p o lita n E l S ee M a n R y
M e x C e n t c o n s o l g o ld 4 s . . 1911
1 st c o n s o l in c o m e g 3 s .u l 9 3 9
2 d c o n s o l in c o m e g 3 s . . a l 9 3 9
E q u ip & c o ll g o ld 5 s ........ 1 9 1 7
2 d s e r ie s g o ld 5 s ............1919
C o ll t r g 4H>s 1 s t S e r — 1907
H e x I n t e r n a t 1st c o n g 4 s . 1 9 7 7
S ta m p e d g u a r a n t e e d ___ 1977
M e x N o r t h 1 s t g o ld 6 s ___ 1 9 1 0
M ic h C e n t S ee N Y C e n t
M id o t N J S ee E r ie
M il L S & W See C h ic & N W
M il & M a d S ee C h ic & N W
M il & N o r t h See C h M & S t P
M in n & St L 1 s t g o ld 7 s . . 1927
I o w a E x 1st g o ld 7 s ........ 1 9 0 9
P a c it ic E x 1 s t g o ld 6 s . . . 1921
S o u th W e s t E x l s t g 7 s . 1 9 1 0
1 s t c o n s o l g o ld 5 s ...............1 9 3 4
1 s t a n d r e fu n d g o ld 4 s . .1 9 4 9
M in n & S t L g u S ee B C R & K
M & P 1 s t 5s s tp d 4 s in t g u 1 9 3 6
M S S M & A 1 st g 4 in t g u 1 9 2 6
M S t P & S S M c o n g 4 in t g u ’ 38
M in n U n See S t P M & M
M o K a n & T e x 1 s t g 4 s . ..1 9 9 0
2 d g o ld 4 s ............................</1990
1 s t e x t g o ld 5 s .................... 1944
S t L D iv 1 s t r e f g 4 s . ...2 0 0 1
D a l <fc W a 1 st g u g 5 s . . . 1 9 4 0
K a n C & P a c 1 st g 4 s . . . 1 9 9 0
M K & T o f T 1 s t g u g 5 s . 1942
S lie r S h & So 1 s t g u g 5 s . 1 9 4 3
T e b o <fe N e o s h o 1 st 7 s . . . 1 9 0 3
M o K & E 1 st g u g 5 s ........ 1942
M is s o u r i P a c ific 3 d 7 s ........1 9 0 6
1 s t c o n s o l g o ld 6 s ...............1 9 2 0
T r u s t g o ld 5 s s t a m p e d .a l9 1 7
R e g i s t e r e d .................. a l9 1 7
1 s t c o ll g o ld 5 s .................... 1 9 2 0
C e n t B r R y 1 st g u g 4 s . 1919
L e r o y & C V A L 1st g 5 s 1 9 2 6
P a c R o f M o 1 st e x g 4 s . 1 9 3 8
2d e x te n d e d g o ld 5 s . . . 1938
S t L I r M i f c S g e n c o n g 5 s l9 3 1
G e n c o n s ta m p g td g 5 s 1931
U n ifie d & r e f g o ld 4 s . . 1 9 2 9
V e r d i V 1 & W 1 st g 5 s . 1 9 2 6
M o b & B ir m p r io r lie n g 5s 1 9 4 5
M o r t g a g e g o ld 4 s ...............1945
M o b J a c k & K C 1 st g 5 s . 1 9 4 6
M o b & O h io n e w g o ld 6 s . .1 9 2 7
1 s t e x t e n s io n g o ld 6 s . ./t l 9 2 7
G e n e r a l g o ld 4 s .................. 1 9 3 8
M o n t g o m D iv 1 s t g 5 s . . 1 9 4 7
S t L & C a iro c o ll g 4 s . . e l 9 3 0
G u a r a n te e d g 4 s ............1931
M & O c o ll 4s See S o u th e r n
M o h a w k & M a i S ee N Y C & H
M o n o n g a h e la R iv S ee B <fc O
M o n t C e n t See S t P M & M
M o r g a n ’ s L a & T S ee S P C o
M o r r is & E s s e x S ee D e l L & W
VT a sli C h at & S t L 1 st 7 s . 1913
1 ^ 1st c o n s o l g o ld 5 s .......... 1 9 2 8
J a s p e r B r a n c h 1 s t g 6 s . . 1923
M c M M W & A i 1 s t 6 s . .1 9 1 7
T t f c P B ra n c h 1 s t 6 s . ...1 9 1 7
N a sh F lo r & S h e f S ee L & N
N a t o f M e x p r io r l ie n 4 *2 8 .1 9 2 6
1 s t c o n s o l 4 s ................... ..1 9 5 1
N e w H t f e D S ee N Y N H & H
N J J u n e R R S ee N Y C e n t
N e w & C in B d g e See P e n n Co
N O & N E p r io r lie n g 6s p l 9 1 5
N Y B k ln
M a n B e ll S ee L 1
N Y C e n t r a l <fc H u d s o n R i v —
G o ld m o r t g a g e 3*2S...........1997
R e g is t e r e d ........................ 1997
D e b e n t u r e 5s o f. ..1 8 8 4 -1 9 0 4
R e g is t e r e d ............ 1 8 8 4 -1 9 0 4
R e g is t d e b 5 s o f . . .1 8 8 9 -1 9 0 4
D e b e n t u r e g 4 s ___ 1 8 9 0 -1 9 0 5
R e g is te r e d .-.......... 1 8 9 0 -1 9 0 5
D e b t c e r t s e x t g 4 s .......... 1 9 0 5
R e g is t e r e d ........................ 1 9 0 5
L a k e S h o r e c o ll g 3 V s . . . 1 9 9 8
R e g i s t e r e d ........................ 1 9 9 8
M ic h C e n t c o ll g 3 b s ___ 1 9 9 8
R e g i s t e r e d ........................ 1998
B eech C reek 1st g u g 4 s .1936
R e g i s t e r e d ........................ 1 9 3 6
2 d g u g o ld 5 s .................. 1 9 3 6
B e e c h C r E x t l 6 t g 3*28 51 9 5 1
C art & A d 1 s t g u g 4 s . . . 1981
C le a r f B it C oa l 1 s t s f 4 s . 1 9 4 0
Gouv<& O s w e l s t g u g 5 s 1942
M o ll & M a i 1 s t g u g 4 s . .1 9 9 1
I n c o m e 5 s .......................... 1992

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P a g e

BONDS
N . Y. S T O C K E X C H A N G E
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N Y C e n t & H Ii— (C o n tin u e d )
N J J u n o R g u 1 s t 4 s . ..1 9 8 6 F- \
R e g is t e r e d ........................ 1 986 F-A
N Y & P u 1st c o n g u g 4 s 1993 A -O
N o r & M o n t 1 s t g u g 5 s . 1 9 1 6 A -0
W e s t S h o r e 1 s t 4 s g u . . . 2361 J -J
R e g i s t e r e d ........................2361 J -J
L a k e S h o r e c o n s o l 2 d 7 s . 1 903 J -D
R e g is t e r e d ........................ 1903 J -D
G o ld 3 *os............................1997 J -D
R e g is t e r e d ................... 199
J -D
D e t M o n & T o l 1 st 7 s . 1906 F- A
K a A & G R 1 st g u c o s . 1938 J - J
M a h o n C ’ l R R 1 s t 5 s . . 1934 J - J
P it t s M c K & Y 1 st g u 6 s . 1932 J - J
2 d g u a r 6 s .......................... 1934 J -J
J -J
M cK e e s & B V 1st g 6s 1
M i d i C e n t 1 s t c o n s o l 6 s . 1909 M -S
5 s ........................................... 1931 M -S
R e g is t e r e d .................... 1931 Q-M
J -J
4 s .......................................... 1
R e g is t e r e d .................... 1 9 4 0 J - J
J L & S 1 s t g 3 *2» .............1951 M -S
B a t C & S tu r 1 s t g u g 3 s . 1989 J -D
M-N
N Y & H a r le m g 3 V s . . . 2
R e g is t e r e d ........................ 2 0 0 0 M-N
N Y & N o r t h 1 s t g 5 s . . . 1 9 2 7 A -O
R W «fc O c o n 1 s t e x t 5 s . h 1 9 2 2 A - 0
O s w e & R 2 d g u g 5 s . . . e l 9 1 5 F -A
R W & O T R 1 s t g u g 5 s. 1918 M-N
U t ic a & B lk R i v g u g 4 s . 1 9 2 2 J - J
N Y C h ic & S t L 1 st g 4 s . 1937 A O
R e g is t e r e d ............................1 937 A -O
X Y & G r e e n w L a k e S ee E r ie
N Y < H a r See N Y C & H u d
fe
N Y L a c k & W S ee D L & W
N Y L E & W S ee E r ie
N Y & L o n g B r S ee C e n t o f N J
N Y & N E
S ee N Y N H < H
&
N Y N H & H a r 1 st r e g 4 s . 1 903 J -D
A -0
C o n v e r t d e b c e r t s $ 1 ,0 0 0 .
S m a ll c e r t s $ 1 0 0 ..............
H o u s a t o n ic R c o n g 5 s . . 1937 M-N
N H & D e r b y c o n g 5 s . .1 9 1 8 M-N
N Y & N E 1 s t 7 s ............ 1 9 0 5 J - J
1 st 6 s ................................... 1905 J -J
N Y & N o r t h See N Y C & H
N Y O & W r e f 1 s t g 4 s..< /1 9 9 2 M -S
R e g is $ 5 ,0 0 0 o n l y ..........# 1 9 9 2 M -S
N Y & P u t S ee N Y C & H
N Y & R B S ee L o n g Is la n d
N Y S & W S ee E r ie
N Y T e x & M See S o P a c C o
N o r & S o u th 1 s t g 5 s .......... 1941 M-N
N o r f & W e s t g e n g 6 s ........ 1931 M-N
im p r o v e in ’ t & e x t g 6 s . . 1 934 F- A
N e w R iv e r l s t g 6 s ........ 1 9 3 2 A - 0
N & W R y 1 s t c o n g 4 s . 1 9 9 6 A -O
R e g is t e r e d ........................ 1996 A -O
P o c a h C & C j o i n t 4 s . .1 9 4 1 J -D
C C & T 1 st g u g 5 s ..........1922 J -J
S c io V & N E 1 s t g u g 4 s 1 9 8 9 M-N
N o r t h I llin o is S ee C h i & N W
N o r t h O h io See L E rie & W
N o r P a c— P r io r lie n g 4 s . . 1 997 Q*J
R e g is t e r e d ........................ 1 997 Q -J
G e n e r a l lie n g o ld 3 s ___ a 2 0 4 7 Q -F
R e g i s t e r e d .................... a 2 0 4 7 Q -F
C B & Q c o ll tr 4 s See G t N o r
S t P a u l-D u l D iv g 4 s ___ 1 9 9 6 J -D
R e g is t e r e d ........................ 1996; J -D
S t P & N P g e n g 6 s ___ 1
F -A
R e g is t e r e d c e r t i f ic ’ s . . l 9 2 3 Q -F
S t Paul<fc D u l 1 st 5 s . . . .1 9 3 1 ; F-A
2d 5 s ....................................1 917 A -O
1 st c o n s o l g o ld 4 s ..........1 968 J -I)
W a s h C e n t 1 st g 4 s ..........194^ Q-M
N o r P a c T e r C o 1 s t g 6 s . .1 9 3 3 J -J
N o r R y C a l S ee S o P a c
N o r W is See S t P M & O
N o r & M ont. S ee N Y C e n t
1m l & W S ee C C C & S t L
ln o R iv e r R R 1 st g 5 s . 1 936 J -I)
G e n e r a l g o ld 5 s .................. 1937 A -O
O re & C a l See S o P a c C o
O re R R & N a v S ee U d P a c
O re S h o r t L in e S ee U n P a c
O s w e g o & R o m e S ee N Y C
O C F <fe S t P S ee C & N W
a c C o a st C o 1 s t g 5 s ___ 1 9 4 6 J -I)
a c o f M is s o u r i S ee M o P ac
P a n a m a 1 st s fu n d g 4 * 2 S ..1 9 1 7 A -O
S in k fu n d s u b s id y g 6 s . . 1 910 M-N
P e n u C o g u 1 s t g 4 V s ........ 1921 J - J
R e g is t e r e d ............................1921 J - J
G u a r 3*28 c o ll t r u s t r e g . 1937 M -S
G u a r 3 *2S c o ll t r s e r B ...1 9 4 1
C S t L <fc P 1 s t c o n g 5 s . 1932 A -O
R e g is t e r e d ........................ 1932 A -O
C l & *P g e n g u g 4 *28 s e r A . ’42 J -J
S e r ie s B ..............................1942 A O
S c r ie s C 3*28.................... 1 948 M-N
S c r ie s D ; ; V s .................... 1 9 5 0 F -A
E r ie & P it t s g u g 3 * B .1 9 4 0 J - J
2S
S e r ie s C ..............................1 940 J - J
N & C B d g e g e n g u g 4 ‘2 8 1 945 J - J
P C C & S t L g u 4 *28 A . . . 1 9 4 0 A -O
S e n e s B g u a r .................. 1 9 4 2 A -0
S e r ie s C g u a r .................. 1942 M-N
S e r ie s D 4 s g u a r ............1945 M-N
S e r ie s E 3*2 g u a r g ___ 1 9 4 9 F -A
P itt s F t W
C 1 st 7 s . ..1 9 1 2 J - J
2d 7 s ..................................... 1912 J - J
3 d 7 s ................................. A 1912 A -O
P e n n R l i 1st rea l e s t g 4 s . 1923 M-N
C o n s o l s t e r lin g g 6 s ........ 1905 J - J
C o n v e r t ib le g 3 *2S............ 1 9 1 2 M N
C on c u r r e n c y 6 s r e g . ..^ 1 9 0 5 Q-M
C o n s o l g o ld 5 s . . . . ‘.............1919 M-S

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106*4 N o v ’ 02
9 6 J a n ’ 03
127*8 O c t ’ 02
1 2 8 J a n ’ 03
13 0 A p r ’ 01
10 6 D e c ’ 02

117

10 2

3 l 0 8 34 i 0 9 34
25 108 109*2

O c t ’ 00

10 2

1 0 9 34

10 7

128

128

649 104*4 107*8
{

..........

M IS C E L L A N E O U S B O NDS—Continued on Next Pasre
T e le g r a p h ancl T e le p h o n e
A m T e le p & T e l c o ll tr 4 s 1 9 2 9
C om m C a b le C o 1 s t g 4 s . . 2 3 9 7
R e g i s t e r e d .......................... 2 3 9 7
E r ie T & T c o l tr g s f 5 s . . 1 9 2 6
M e t T & T 1 s t s 1 g 5 s ....... 1 9 1 8
M u t U n T e l C o S ee W e s t n U n
N Y & N J T e l g e n g 5 s . . 1920
N o W e s t n T e le g S ee W e s t U n
W e s t U n io n c o l tr c u r 5 s . 1 9 3 8
F d a n d r e a l,e s t g 4*28. . . 1950
M u t U n T e l s fu n d 6 s . ..1 9 1 1
N o r t h w e s t e r n T e l 7 s ___ 1904

C oa l am i Iron
J -J
Q -J

?:J

M-N

115

97 *2 A u g ’ 02
9 6 * 2 100*2 A p r ’ 02
100*2 O c t ’ 00
109
O c t ’ 99
1 1 4 N o v ’ 02

M-N
J -J
M-N
M-N
J -J

113*4 O c t ’ 01
110
104

S a le
........

110
110
104*4
104*4
111 J ’ n e ’ 02

5 109
11 103

C o a l am i Iro n
C ah C oa l M m S ee T C I & R
C le a rl B it C oa l See N Y C & H
C o l C & I D e v C o g u g 5 8 .1 9 0 9 J -J
C o l F u e l C o g e n g o ld 6 s . . . 1919 M-N

C o l F & 1 C o g e n s f g 5 s . . 1943 F -A 102*2 S a le
C o n v e r t ib le d e b g 5 s ___ 1911 F -A
91 *2 S ale
G r R iv C oa l A; C l s t g 6 s . . 1 919 La o *1 0 7
.........
J e ff & C le a r C & 1 1 st g 5 s . 1926 j -d
2 d g o ld 5 s .............................1 926 J -D
K a n & H C & C 1 s t s f g 58.1951 j - j
100
P le a s V a l C oal 1 s t g s f 5 s . 1 9 2 8 j - j
R o c h & P it C & I p u r m 5 s. 1 946 M-N
T e n n C oa l T D iv I s t g 6 s . u l 9 1 7 A - 0 1 0 7 34 Sale
110
B ir m D iv 1 st c o n s o l 6 s . . 1917 J -J 1 0 7 * 4 ........
1043 b
Cali C M C o 1 st g u g 6s . 1 9 2 2 J -D
D e B a r C & I C o g u g 6s . 1910 F-A 101*4 S a le
V a I r o n Coal<& C 1 st g 5 s . 1 949 M-S
8 0 *4 S a le
W h L E & P C C o l s t g 5 s . 1 919 J -J

102*4 102*2!
2| 102
91*2
92*4!l68l| 91
115 J ’ n e ’ 02
10 7 M a y ’97
8 0 M a y ’ 97
106*4 F e b ’ 02
105 O c t ’ 00

105
963
4

2 106*2 10734
1 0 7 34 1 0 7 34
5 105*8 108
|
108
108
105
F e b ’ 00
7 101 101*2
1 01
101*4
80*2
79
SO *2 114 79
32 J a n ’ 00

M anufacturing & Industrial
A m e r B ic y c le s f d e b e n 5 s 1919 M-S
A m 'C o t O il e x t 4 *28............1915 Q -F

55 N o v ’ OO
110*2 A u g ’ 02

N o price F riday; latest bid and asked this week,

a D u e Jan

b D ue F eb

e D u e M ay

j D u e J ’ne

h D ue J ’ly

35

.......

99*2 S ale
p Due N ov

34 F e b ’ 03
99*2
99*2 11
s Option sale.

34
42*a
99*2 101

*

Bond Record — Concluded— Page 4

BONOS
N . Y. S T O C K E X C H A N G E
W k k k E nd in g F eb 13

Jnt'st
J'eriod

F e b r u a r y 14, 1903.]
P r ic e
I V id a u
F eb 1 3

W eek ’ 8
R a n g e or
L a st S a le

R ange
S in ce
C "c
S C J a n u a ry J
QC

371

BONDS
N. Y. STOCK E X C H A N G E |
W e e k E ndi ng F eij 13

P r ic e
F r id a y
F eb 1 3

W eek 's
R a n g e or
L a st S a le

R ange
S in ce
J a n u a ry 1

^ /

B id
A 8/ L o w
C
H i g h S o L ovj JJig to
S o u th e r n P a c C o —( C o n tin u e d )
110
1 1 0 % J a n ’ 03 . . . 1 1 1 0
111
I I 6c T C 1 st g 5 s in t g n . . l 9 3 7 J - J
112 J a n ’ 03
102
N o v ’ 97
112 112
C o n so l g 6 h in t g u a r . . . 1 9 1 2 A -O
9 4 J a n ’ 03
94
109
112% 112% M a r '00
I 93
94
G e n g o ld 4 s in t g u a r .. 1921 A -O
127% F e b ’ 02
102
..........
W aco
N W di v 1 st g 6 s ’ 30 M-N
.......... 111
D e c ’ 02
108
M o r g a n ’ s L a & T 1 st 7 s . 1 9 1 8 A -O 1 2 9 % ..........130 N o v ’ 02
117
..........122 S eu ’ D2
1 s t g o ld 6 s ....................... 1 920 J - J
112
.......... 117 M a y ’ 00
U N J R R & C an g e n 4 s . 1 9 4
N Y T & M e x g u 1 st g 4 s . 1 912 A -O
106
P e n s a c o la & A t l S ec L & M as
N o o f C a l 1 st g u g 6 s ----- 1907 J -J
J a n ’ 01
113
P e o & E a st S ee C C C & S t L
G u a r a n te e d g o ld 5 s ___ 1 9 3 8 A -O 117
99
105 % N o v ’ Ol
P e o < P e k U n 1 st g 6 s -----132
fe
O re & Cal 1 st g u a r g 5 8 .1 9 2 7 J - J
127 1 2 7
Q -F 125 .......... 127 J a n ’ 03
86 S a le
101
O c t ’ 00
86
41 j 8 5
8*0%
2d g o ld 4
......................6 1 9 2 1 M-N
S A & A P a s s i s t g u g 4 s . 1 943 J - J
8 5%
110
121% J a n ’ 03
i 2i % i 2i %
S o P o f A r g u l s t g 6 s . . . c l 909 J - J
112% A p r ’ 02
AO
111
111% 111%
1 s t g u a r g 6 s ................c l 9 10 J - J
111
111
1 1 1 % 111% J a n ’ 0;
M-N ..........111% 111 J a u ’ 03
105% D e c ’ 02
.......... 113 J a n ’ 0 3 . . . . 113
S P o f Cal 1 st g 6 s ............1 9 0 5 A -O 105 %
113
A -O 113
D e c ’ 01
106%
108
1 st g 6s s e r ie s B ............1 905 A O
F -A
108%
110% J a n ’ 02
137 N o v ’ 97
P in e C re e k r e g g u a r 6 s.
1 st g Os s e r ie s C & D . .. 1 9 0 6 A O
J -D
1 1 9 % J a n ’ 03
l l 9% 119%
P it t s C in & S t L S e e P i
1 st g 6s s e r ie s E
F ...1 9 1 2 A -O 1 1 9 %
1 1 9 % J ’ n e ’ 02
P it t s C le v & T o l 1 st g 6s
A-O 1 2 0 .......... 1 0 7 % O c t ’ 98
1 st g o ld 6 s ........................ 1 9 1 2 A -O 1 1 9 %
N o v ’ OO
107
P it t s F t W iS C li See Pc
c
1 s t c o u g u a r g 5 s .......... 1937 M-N
119
.......... 120 O c t ’01
109% 1 03%
S t a m p e d ........ 1 9 0 5 -..1 9 3 7 M-N 1 0 9 % 110 % 109% J a n ’ 03
J -J
109
112 112 D e c ’ 02
S P a c o f N M e x 1 st g 6 s . . 1911 J -J
A -O 1 1 3 % .......... 112% D e c ’ 02
P it t s M c K e e s & Y S ee N Y
S P C o a st 1 st g u g 4 s ----- 1 9 3 7 J - J
S
P it t s Sli <k L E 1 st g 5 S ...1
T e x & N O 1 s t 7 s ...............1 905 F -A 101 % ...... 108 M a y ’ O
A -O 1 2 0 .......... 119 N o v ’02
110 ........ 111% O c t ’ 02
9 8 J ’ ly ’ 97
J -J
S a b in e D iv l s t g 6 s ----- 1 9 1 2 M S
10 4 ........ 108% J ’ l y ’ 01
9 9 % .......... 101% N o v ’ 02
C on g o ld 5 s ...................... 1943 J - J
J -J
100%
J P M & C o c e r t f s .....................
117% S a le 117
5 100% 1 0 0 % S o u t h e r n —1 s t c o n g 5 s ----- 1994 J - J
1 0 0 % S a le 100%
117% 13 1116% 1 1 8 %
P it t s Y
A s h 1 s t c o n 5 s . 1927 M-N 1 1 5 % .......... 1 2 0 % D e c ’ 02
116
116
l o ; 116 1 1 6
R e g i s t e r e d ........................ 1 994 J - J
96 % 97
e a d in g C o g e n g 4 s ....... 1997 J -J
97%
9 7 % S ale
97
97% 264 9 5 % 9 8 %
97%
5 93% 97%
M o b tfc O h io c o ll t r g 4 s . . 1 938 M S
R e g is t e r e d .......................1997 J - J
92 A p r ’ 01
113% J a n ’ 03 . . . 1 1 3
113%
M e m D iv 1 s t g 4 % - 5 s .. . 1 9 9 6 J -J
J e r s e y C e n t c o ll g 4 s . ..1 9 5 1 A -O
9 5 % S ale
9 8 % S ale
3 97% 9 8 %
95%
9 5 % 37 9 3 % 90
98%
98%
S t L o u is d iv 1 s t g 4 s ----- 1951 J - J
1 1 4 % ........ 120 M a r ’ 01
R e n s s e la e r & S a r S ee D <fc H
A la C e n R 1 s t g 6 s .......... 1 918 J - J
R ic h & D an S ee S o u th Ity
9 5 . D e c ’ 02
A t l & D a n v 1 st g 4 s ........ 1 948 J - J
R ic h & M e e k S ee S o u th e r n
90
A t l & Y a d 1 s t g g u a r 4 s . 1 9 4 9 A -O
9 8 S a le
97
98
27 9 7
120 S ep ’ 02
J -J
98%
C o l & G r e e n v 1 st 6 s ........ 1 9 1 6 J -J
C o n s o l a n d c o l tr u s t 4 s .1 9 4 9 A -O
1 15
....
115 J a n ’ 03
9 0 % .......... 92
F e b ’ 03
91
92
J 115 1 1 5 %
E T V a & G a I)iv g 5 s .. 1930 J -J
U ta h C e n t 1 st g u g 4 s . a l 9 1 7 A -O
92
.......... 97 J a n ’ 02
F e b ’ 03
.'1 1 9
119%
C o n 1 s t g o ld 5 8 ...............1 9 5 6 M-N .......... 1 1 8 % 119
R io G r J u n c 1st g u g 5 s . ..1 9 3 9 J -D
1 1 0 1 1 2 % 112% J a n ’ 03
114
J a n ’ 03
. 114 1 1 5 %
112% 112%
E T e n r e o r lie n g 5 s ........ 1 9 3 8 M -S . . . . . . 115
........ 1 2 3 % F e b ’ 03
123
.......... 8 0 % J ’l y ’ 02
J 1 2 2 % 124
J -J * 76
G a P a c R y 1 st g 6 s .......... 1922 J -J
G u a r a n t e e d .......................... 1 9 4 0 J - J
1 24 12 5
94 % N o v ’ 02
124 J a n *03
.1 1 2 3 12 4
K n o x & O h io 1 s t g 6 s . . . 1925 J - J
1 1 7 % ........ 117%
R o c k c P itt s S ee B R & P
&
11 7%
117% 11. I ' 4
J
R ic h & D a n c o n g 6 s ___ 1915 J -J
R om e W at
O g S ee N Y C ent
........ 101 % J ’ ly ’00
E q u ip s in k fu n d g 5 s . . 1 9 0 9 M-S 101
R u t la n d 1 s t c o n g 4 % s ____1941 J - J
02
D e b 5 s s ta m p e d ...............1927 A -O 1 1 0 % ....... 111 D e c ’
R u t-C a n a d 1 s t g u g 4 % s . l 9 4 9 J - J
87
92
92
S ep ’02
101 % N o v ’ Ol
R ic li & M e e k 1 s t g 4 s . . . 1948 M-N
a g T u s & H See P e r e M a rq
107 % 10 7 %
2 ,1 0 6
107%
S o C ar & G a 1st g 5 s ___ 1919 M-N 107 1 0 8
a lt L a k e C 1 st g s f 6 s . . 1913 J -J
F e b ’ 02
V ir g in ia M id s e r C 6 s . . .1 9 1 6 M -8 1 1 8 % ........ 123
S t J o & G r Isl 1 s t g 3 -4 S ..1 9 4 7 J -J
>_
.......... 93
9 4 JaD ’ 03 . . . .
S e r ie s D 4 -5 s ...................1921 M -S 111% ...... 1 1 3 % N o v ’ <•
94
94
S t Law
A d ir o u l s t g 5 s . 1996 J •J
11 5
S e r ie s E 5 s ........................ 1 9 2 6 M -S 1 1 4 % ........ 115 J a n
— .115
I
2d g o ld 6 s ..............................1996 A -O
11 6%
6 115% 116%
G e n e r a l 5 s ........................ 19361 M-N 1 1 6 % S ale 116
St L
C a iro S ee M o b & O h io
116 D e c ’ 01
G u a r s ta m p e d ............ 1 9 3 6 M-N
S t L <fc Iro n M o u n t S ee M P
93
02
98% A pr ’
98
W O 6c W 1 st c y g u 4 s . .1 9 2 4 F A
S t L K C 6c N S ee W a b a s h
115
115% F e b ’ 03
115 1 1 5 %
W e s t N C 1 s t c o u g 6 s . . 1914 J - J
S t L M B r S ee T R R A o f S t L
S & N A la & c c L c f c N
S t L & S F ra n 2d g 6s Cl B 1906 M-N 1 0 6
122 ___ 117 J ’ l y ’ 00
.......... 106 J a n ’ 03
S p o k F a lls & N o r 1 st g 6 s . 1939 J - J
■
1 0 5 % 106
2 d g o ld 6s C la ss C ............190(3 M-N 1 0 6
.......... 1 0 8 % A u g ’ 02
1 0 4 % S ep ’ 02
S ta t Isl R y 1 st g u g 4 % s . .l 9 4 3 J -D 1 0 0 10 5
G e u e r a l g o ld 6 s .................. 1931 J - J
129 J a m ’ 03
.......... 1 3 0
1 2 7 % 129
S u n k & L e w S ee P e n n R R
G e n e r a l g o ld 5 s .................. 1931 J - J
1 1 3 % .......... 113% F e b ’ 03
See D L <fc W
113 1 1 4 % S y ra B in g A N Y
S t L <fc S F R R c o n s g 4 s . . ’ 90 J - J
9 5 % J a n ’ 03
9 5 % 95% rr e b o « fe N S e e M K & T
S o u t h w D iv l s t g 5 s . .1 9 4 7 A -O
112 %
100 J a n ’ 02
1 1 2 % S a le 112 %
112 112%
JL e r A o f S t L 1 s t g 4 % s .. 1939 A O
R e fu n d in g g 4 s ............. 1951 J - J
118
11 8
1 s t c o n g o ld 5 8 ........18 9 4 1944 F -A 1 1 5 % .......... 118 J a n ’ u3
8 8 % S a le
88%
8 9 % 3236 8 7 % 9 1 %
K C F t S & M c o u g 6 S ..1 9 2 8 M-N 1 2 1 % .......... 1 2 5 % J ’ n e ’ 02
1 1 5 % M a y ’ 02
S t L M B g e T e r g u g o s . 1 9 3 0 A -O
K C F t S & M R y r e f g 4 s 1 9 3 6 A -O
87%
8 7 % 38 86% 8 8 % T e x & N O S ee S o P a c C o
8 7 % Sale
R e g i s t e r e d ........................ 1 9 3 6 A -O
T e x & P a c E D iv 1 s t g 6 s . . 1 905 M -S 102 % ........ 101% S ep ’ 02
S t L o u is S o S ee I lliu o is C e n t
12 1 1 6 % 1 1 7 %
1 s t g o ld 5 s ............................2 0 0 0 J -I ) 117 S a le
S t L S W 1 s t g 4 h bd c t f s .1 9 8 9 M-N
10 0 J a n ’ 0 3 . . . .
99
10 0
9 7 % 122 9 4 % 9 7 %
2 d g o ld in c 5 s .................... $r2000 M ar
97
971.2 9 6 %
2d g 4s m e bond c t f s ...^ l9 8 9 J -J
J a n ’ 03
8 3 S a le
83
83% 46 83
111 311
85 %
L a D iv B L 1 s t g 5 s ........1931 J J io < T ‘ m m 111
C o n s o l g o ld 4 s .................... 1932 J -D
111 % ......... 112 J a n ’ 03
8 5 % S ale
111% 112
84%
86
102 8 4 % 86
T o l & O C 1 s t g 5 s ................ 1 935 J - J
G r a y ’s P t T e r 1st g u g 5s 1947 J D 100
1 1 3 % N o v ’ 02
..........
W e s t e r n D iv 1 s t g 5 s . . . 1935 A -O
t P a u l & D u l S ee N o r P a c ific
G e n e r a l g o ld 5 s .................. 1 935 J -D i*07*’ m i l l 107 J a n ’ 03
107 1 0 7
t P a u l M & M a n 2d 6 s . . . 1909 A -O 1 1 3 % .......... 1 1 3 % J a n ’ 03
3 93
96
97
K a n & M 1 st g u g 4 s ___ 1 9 9 0 A -O
113% 113%
97
1 s t c o n s o l g o ld 6 s ..............1 9 3 3 J - J
*9*i” " 93 "" 91
4 90
91 %
92
1 3 4 % 135 % T o l P & W i s t g o ld 4 s . ...1 9 1 7 J - J
..........1 3 6 % 1 3 5 % J a n ’ 03
R e g i s t e r e d ........................ 1 9 3 3 J - J
85 % S a le
2 83% 85%
85%
85%
T o l S t L & W p r lie n g 3 % s . 1 925 J - J
140 M a y ’ 02
R e d u c e d to g o ld 4 % s . . l 9 3 3 J - J
79
S a le
1 1 0 % .......... 1 1 1 % F e b ’ 03
46 7 6
79
79%
5 0 -y e a r g o ld 4 s .................. 1 950 A -O
i ‘1 6 % i * i i%
80
R e g i s t e r e d ................... 1 9 3 3 .J-J
97 ........ 9 8 % A u g ’ 02
1 1 6 % A p r ’ 01
T o r H a m & B u ft 1 s t g 4 s . /t l 9 4 6 J -D
D a k o t a e x t g o ld 6 s ..........1 9 1 0 M-N 1 1 3 % .......... 1 1 4 J a n ’ 03
1 1 0 % F e b ’ 03
ls t e r & D e l 1 s t c o u g 5 s 1 9 2 8 J -D 109 112
110 110 %
*114 1 1 4
M o n t e x t 1 s t g o ld 4 s ___ 1937 J -D 102
103% S a le 102%
103% 201 102% 1 0 3 %
n P a c R R & 1 g r g 4 s . .1 9 4 7 J - J
103% 104 J a n ’ 03
103 % 1 0 4
R e g i s t e r e d ........................ 1937 J -D
103%
102% J a n ’ 03
R e g is t e r e d ........................ 1 947 J - J
102
1 0 6 M a y ’ 01
E M iu n 1st d iv 1 s t g 5 s . . 1 9 0 8 A -O 1 0 5
.......... 1 0 7 % S e p ’ 02
1 0 6 % 830 1 0 5 % 1 0 7 %
1 s t lie n c o n v e r t 4 s .......... 1911 M-N 1 0 6 S a le 105%
R e g i s t e r e d ........................ 1 9 0 8 A -O
1 0 5 % J a n ’ 03
R e g i s t e r e d ........................ 1911 M-N
105% 1 0 5 %
N o r D iv 1 s t g o ld 4 s ___ 1 9 4 8 A -O
100 % 101%
O re R y & N a v c o n g 4 s . 1 9 4 6 J -D i b’ i ’% 102 *’ 101% F e b ’ 03
M in n U n io n 1 s t g 6 a ___ 1922 J - J
1 1 123% 1 2 7 %
124%
1 2 8 A p r ’ 02
O re S h o r t L in e l s t g 6 s . . 1 922 F -A 1 2 3 % 1 24% 12 4
M o n t C 1 s t g u g 6 s ..........1 9 3 7 J - J
11 4
1 1 3 % S ale 113
1 3 4 % .......... 1 3 4 % J a n ’ 03
1 1 3 % 14 113
1 st c o n s o l g 5 s ................ 1 9 4 6 J - J
134
134%
R e g i s t e r e d ........................ 1 9 3 7 J -J
9 5 % S a le
98%
95
9 5 % 3 8 8 95
4 s & p a r t i c i p a t i n g ___ 1 9 2 7 F -A
115 A p r ’ 97
1 s t g u a r g o ld 5 s ............ 1937 J - J
1 1 8 % .......... 1 2 4 % J ’ n e ’ 02
U ta h & N o r 1 st 7 s ..........1 908 J - J
.......... 1 1 3 % 11 5 N o v ‘ 02
W i l l & S F 1 st g o ld o s . . 1 9 3 8 J -D * 1 2 1 % .......... 1 2 5 % F e b ’ 02
1 1 4 % A p r ’ 02
G o ld 5 s ................................ 1 926 J - J
t P & N o r P a c See N o r P a c
U n i N J R R & C C o See P a R K
t P & S ’ x C ity S e e C S t P M <fcO
U ta h C e n tr a l S ee R io G r W e s
S F e P r e s & P li l s t g 5 s . . .1 9 4 2 M -S
U ta h & N o r t h S ee U n P a c ific
111 A u g ’ 01
S A & A P S ee S o P a c C o
U tica & B la c k R S ee N Y C ent
S F & N P 1st s in k t g 5 s . 1919 J -J
108
\J e r V a l I n d & W S er M o P
.......... 113% D e c ’ 01
S a v F & W 1 s t g o ld 6 s ___ 1934 A -O 1 2 8 % .......... 1 2 8 O c t ’ 02
▼ ir g in ia M id S ee S o u th R y
1 s t g o ld 5 s ............................1934 A -O 1 1 4 % .......... 1 2 3 D e c ’ 99
102%
6 101% 102 %
1 0 2 % S a le 102
V a & S o u t h w ’ 1 1 st g u 5 8 .2 0 0 3 J - J
jSt J o h n 's D iv l s t g 4 s . ..1 9 3 4 J - J
a b a s h 1 s t g o ld 5 s ........1 939 M-N 1 1 8
Sale 1 1 7 %
118
2 9 116% 118
95
.......... 9 5 % N o v ’ Ol
A la M id 1 s t g u g o ld 5 s . . 1928 M-N 1 1 2 % .......... 112% J a n ’ 03
S ale 1 0 7 %
2d g o ld 5 s .................... 1 939 F -A 1 0 8
1 0 8 v 43 107
111
112% 112%
100^ ........ 101 % J a n ’ 03
B r u n s & W 1 s t g u g 4 s . . 1 9 3 8 J -J
9 5 % .......... 87 A u g ’ 01
D e b e n t u r e s e r ie s A ........ 1 939 J - J
101 % 101 %
S il Sn O ca & G g u g 4 s . . 1 9 1 8 J - J
8 2 % S a le
S e r ie s B ..............................1 9 3 9 J - J
84% 6449 7 5 % 8 4 %
80%
95
96
96
96%
96%
6 95
B clo to V a l < N E S ee N o r
&
W
........ 104 % D e c ’ 02
1 st lie n e q u ip s fd g 5 s . .1 9 2 1 M -S 105
S e a b o a rd A i r L in e g 4 s .. . 1 9 5 0 A O
D e t & C h E x t 1 st g 5 s . . 1941 J - J
84
109 F e b ’ 0 3 . . . . 109
109
.......... 8 4 % 8 4
2 83% 84%
C o ll tr r e fu n d g 5 s ..........1911 M-N 103 S a le 103
D e s M o in D iv 1 st g 4 s . .1 9 3 9 J -J
* 9 2 ~ *95*
M a y ’ o2
97
103%
6 101% 103%
6 e a b & lto a 1 s t 5 s .................1 9 2 6 J - J
110
.......... 104% F e b ’ 98
O m D iv 1 s t g 3*28.............1941 A O
8 5 % J a n '0 3
.......... 85
’ *84*’ ’ *85%
C ar C e n t 1 s t c o n g 4 s . ..1 9 4 9 J -J
96
.........
M a i ’ 02
95
T o l tS Ch D iv 1 st g 4 s . . . 1941 M -S
c
.......... 9 7
98
O c t ’ 02
S lie r S lir < S o S ee M K & T
&
St C h a s B r id g e 1 st g 6 s . 1908 A -O 1 0 8
........ 109 D e c ’ 02
S il S p O ca & G See S a v F & W
W a r r e n S ee D e l L a c & W e s t
B od B a y & S o 1st g 5 s ........ 1 9 2 4 J - J
102
W a s h C e n t S ee N o r P a c
.......... 102 J a n *03
102 102
Bo C ar
S ee S o u th e r n
W a s h O & W S ee S o u th e r n
6 o P a c C o— C o ll tr g 4 % s . . l 9 0 5 J -D
W e s t N Y & P a 1 s t g 5 s . .1 9 3 7 J -J
9 8 % .......... 9 8 %
1 '9 8
117% 1 1 7 %
98%
99
1 1 7 % 1 1 8 % 117% 1 1 7 %
G o ld 4 s (C e n t P a c c o l l ) . /cl949 J -D
91%
9 1 % 113 9 0 % 9 2 %
G e n g o ld 3 -4 s ...................... 1 9 4 3 A O
9 1 % S ale
9 9 % 100% 100
99 1 0 0
10 0
R e g is t e r e d ................... Id 949 J 1)
30
.......... 4 0 M a r ’ 01
I n c o m e 5 s .......................... <71943 N ov
95 A p r ’ 02
A
N W 1 s t g u g 5 s ___ 1941 J - J
W e s t N o C a r See S o u th R y
105
.......... 111 J ’ n e ’ 01
C e n t P a c 1 st r e f g u g 4 s 1 9 4 9 F -A
W e s t S h o r e S ee N Y C en t
9 9 % S ale
32 9 9 % 102
99%
101
R e g i s t e r e d ........................ 1949 F -A
W V a C e n t & P 1 st g 6 s . . 1911 J - J
109 .......... 114 % J a n '0 2
9 9 % J T ie ’ OO
M o r t g u a r g o ld 3 % s..A ;1 9 2 9 J -I )
.......... 1 1 6 % J a n ’ 031___ 115 1 1 6 %
87 % S a le
8 7 % W lie e l’ g & L E 1 st g 5 s . . . 1 9 2 6 A -O 113
87
87% 20 8 4
R e g i s t e r e d ............... /cl 9 2 9 J -D
W h e e l D iv 1 st g o ld 5 s . .1 9 2 8 J - J
113
.......... 11 3 S e p ’ 02
G a l H a r & S A l s t g 6 s . .1 9 1 0 F -A 1 0 8 1 1 1 % 1 1 2 J a n ’ 03
112 112
E x t e n < I m p g o ld 5 s . ..1 9 3 0 F -A I l l
fe
1 1 2 % 1 11% O ct ’ 02
2d g o ld 7 s ..........................1905 J -D 1 0 5
1 st c o n s o l 4 s ........................ 1949 M -S
.......... 105
105
92
91% 92%
9 2 % S ale
9 2 3.
105
4 105
M e x ife P a c l s t g 5 s ___ 1931 M-N 1 0 8 % .......... 1 0 9 % J a n ’ 03
fc
1 0 7 % 1 0 9 % W ilk e s < E a s t S ee E r ie
G ila V G & N 1 s t g u g 5 s . 1924 M-N 106 .......... 112
W il & S io u x F S ee S t P M &
O c t ’ 02
H o u s K & W T 1 st g 5 8 .1 9 3 3 M-N 106
W in o n a & St P S ee C & N W
110
103
A u g ’ 02
1 st g u a r 5 s r e d ............1 9 3 3 M-N 105
92 % S a le
91%
92% 1 8 9 ‘ 90
92%
.......... 1 0 2 % D e c ’ 02 . . . . . . . . . . . . . . . . SVis C e n t 5 0 -y r 1 st g e n 4 s . 1 9 4 9 J - J
P o n n R K — (C o n tin u e d )
C o n so l g old 4 s ................

R id

A 8 k J.ovj

H ig h A’o J Ow
j

H ig h

M-N
M- S
M-N
K-A
J -J
J -J
M-S

H

S

U

f

W

M ISC E L L A N E O U S

M a n u fa ctu rin g \

In d u str ia l

A m H id e & L 1 st s f g 6 s . . 1 9 1 9
A m S p irits M fg 1 s t g 6 s . . 1 9 1 5
A m T h re a d 1st c o l tr 4 s . . . 1 9 1 9
B a r & S C ar C o 1st g 6 s . .. 1942
C o n s o lT o b a c o o 5 0 -y r g 4 s. 1951
D is til S e c C or c o n v l s t g 5 s . ’ 27
X)ist ill o f A m e r c o l l t r g 5 s . l 9 1 1
111 S teel C o d e b 5 s ................ 1 9 1 0
N o n -c o n v d e b e n 5 s ..........1913
I n t P a p e r C o 1st con g 6 s . 1918
K n ic k e r I c e (C h ic ) l s t g 5 s . *28
K a t S ta rch M f g C o 1 st g 6s 1 9 2 0
N a t S ta rch C o s f d e b 5 s . . 1 9 2 5
S ta n R o p e <fc T l s t g 6 s . . . 1 9 4 6
I n c o m e g o ld 5 s .................. 1946
U S Death C o s f d e b g 6 s . . 1913
TJ S S h ip b ld g c o ll tft m g e 5 s . ’ 22
l 8 t 8 _ f 5 s g “ A ’ .................. 1 9 3 2

BO N O S —C o n c lu d e d .

Miscellaneous
M -S
M-S
J -J
J -J
F -A
AO
J -J
J -J
A -O
F -A
A -O
M-N
J -J
FA

97
..........
93
94%
.......... 7 9 %

9 7 F e b ’ 03
94 % F e b * 03
8 0 J a u ’ 03
105 J a n ’ 00
64% S a le
64%
65%
7 6 % S ale
75
76%
99
99
99
S a lo
100
99
J a n ’ 99
.......... 100 M ay»02
100
108 1 0 9
108%
109
.......... 93
93 A u g ’ OO
.......... 95
94
94
.......... 7 4 % 8 0 J a n ’ 03
6 4 % S ale
64
65
13 S ale
11
13%
M-N ••••
114% Jau ’03
....
F -A
91 J a u ’ 03
J - J * .......... 75
8 0 J a n ’ 03

N o price Friday; latest bid and asked,

a D u e Jan

95
88
80

—
361
193
rr
1

b D u e F eb

97
93
80

64%
75
99

67%
77
99

3 i*0*7

1*10

4

95
80
68
13%
111%
91
SO

94
80
56 ! 64
LOO 1 0 %
m 2
91
. . . . 1 SO

A d a m s E x c o l tr g 4 s .......... 194S M-S
A m D k & Im p 5 s See C e n t N J
A m S S C o o f W V a g 5 s ___ 1920 M-N
B ’ k l’ n F e r r y C o l s t c o n s g 5 s ?4S F -A
C h ic J c A S t Y a rd c o l g 5 s . 1915 J - J
D et M & M Id g r in c o m e s .. 1911 A O
H o b o k e n L <fc I g o ld 5 s . . .19101 M-N
M a d S q G a r d e n l s t g 5 s . .1 9 1 9 M-N
M an B ell H <fc L g e n g 4 s . . 1940! M-N
N e w p N o S h ip & I) D 5 s d l 9 9 0 J - J
N Y D o c k 5 0 -y r 1 st g 4 s . . 1 951 F -A
St J o s e p h S tk Y d s 1 st 4 % s. 1 9 3 0 J -J
S t L T e r C u p p le s S t a t ’ n Sr P rop l
C o l s t g 4 % s 5 -2 0 y e a r .. 1 917' J -D
S Y u b a W a t C o c o n g 6 s . . 1923 j J - J
S p V a l W a t W o r k s 1st 6s 1 906 M-S
U S R e d & R e f 1 st s f g 6 s .1931

c D uo M a r d D u e A p r g D ue J’ne A D u e J ’ly

10 6

10 3
88

100% J ’ ne*02
75 J a n *0$
M a r ’ 01
.......... 111
87 %
88
S a le
90

9 2% S a le
101

104

92%

. . . . . . •••••• 101
LUO . . . . . .
85

F e b ’ 03 . . . .
92 %

6

76

8 5%

O

106%

73

105% J a n ’ 03

105

90

90

90

92%

95

....
F e b ’97 . . . . . . . . . . . . . . . .
J a n ’ 03 . . . .i

k D u e A u g p D u e N o v q D u e Dec

85

86

5 Option sale

BOSTON STOCK EXOHA.NG-E—Stock Record, Daily, Weekly and Yearly

----------

+

.

--------------------

■

..................... ..................... ..

■

S lm r e P r ic e s —N ot P e r C e n tu m P r ic e s
S a tu r d a y
F eb . ?

M onday
F eb . 9

T u esd ay
F eb . 1 0

1 W ed n esd a y
F eb . 11

T h u rsd ay
F eb . 12

F r id a y
F eb. 1 3

—

■■

STOCKS
BO STO N STOCK
EXCHANGE

*

S a les
o f th e
WeekS hares

-------------------------

R a n g e lo r Y ea r
1903
L ow est

H ig h est

R a n g e ror F r c v i o u t
Y e a r (1 9 0 2 )
L o w est

H ig h e s t

R a ilr o a d s
A tc li T o p
S a n ta F elO O 1 ,9 0 5 8 4 J a n 3 8 9 % J a n 10 7 4 % J a n 9 6 % S ep
531 9 9 % J a n 26 103*4 J a n 10 95*2 M ai 1 06 S ep
D o p r e f ................. 100
73 25 7 J a n 9 26 2 % F e b 4 2 5 6 % D e c 2 6 6 M ay
B o s to n <fc A l b a n y ___ 100
B o sto n E le v a t e d ........100
377 1 5 0 J a n 31 15 4 J a n 5 1 4 9 % D e c 1 7 3 % M a r
B o s to n & L o w e l l ........100
35 2 4 0 J a n 19 2 4 3
F eb 4 2 3 6 J ’ ne 2 4 8 A p r
34 4 189 F e b 3 19 5 J a n 5 1 9 0 % N o v 20 9
B o s to n & M a in e ........100
A pr
10 175 J a n 28 176 F e b 13 171
D o p r e f ................. 100
O c t 183 A p r
19 2 9 9 J a n 29 3 0 3 F e b 11 2 9 7 % J ’ no 30 7
M ar
B o s to n <fc P r o v id e n c e iO O
42 1 5 2 J a n 20 157 J a n 6 150 S ep 172
C h ic J u n e Ry<& U S Y 1 0 0
M ar
89 122
F e b 0 125 J a il 2 123 N ov 1 36 M ax
D o n r e f ................. 100
2 196 J a n 6 196 J a n 6 196 N o v 20 2 J a n
C on & M o n t C la ss 4 .. 100
C onn
P a ss R i v p r e f ) 0 0
1 60 J a n 5 165% J a n 27 160 J ’ ne
• 2 8 1 % J a n 27
2
"2 8 3
.......... ‘ 2 8 3
..........
28 3
283
2 8 0 O ct 2 9 5
F eb
C o n n e c t ic u t R iv e r
100
•283
143
143*2 1 4 3
143
143
197 14 0 J a n 16 1 43% F e b 10 141 D e c 148
14 3 143
*142
143
142%
F it c h b u r g p r e f ............100
M ar
* .......... 44
S ep ’ 02 11o u s to n E l’ t r i c c o m 100
♦.......... 44
* .......... 44
L a s t S a l t 1 9 *2
•.......... 4 4
47 J T y 5 0 J ’ n 6
180
180
8 175 J an 2 6 180 F e b l O 172 J a n 1 7 8 % J T y
M a in e C e n tr a l
. 100
35 3 3 5 7g
4
3534 36
35 *2
35*2 35*2
35% 36
D ee 4 5 % A p r
3 5 % M a ss E le c t r i c C o s ___ 100 1.442 35*2 J a n 23 37 % J a n 8 33
93
93
92
93
7 9 0 9 2 F e b 5 9 6 J a n 7 92 Jan
92%
93
93
92*2 92%
92%
D o p r e f ................. 100
99 J ’ ne
F e b ’ 03 M e x ic a n C e n t r a l........100
25
F e b 4 2 6 % J a n 6 2 2 % D e c 31
* 2 5 *2 26*2 *27*8 28*8 * 2 6 *2 2 <*2 *2 6 % 27% L a s t S a l e 25
M ar
221
221
221 221
221
221
613 219*2 F e b 13 22 5 J a n 7 2 1 0 Jan 2 5 4 A p r
22 1
221
N Y N H < c H a r t .. . . 1 0 0
S
219*2 221
*1 7 0
175
* 170 1 7 5
* 1 7 0 175
J a n ’ 03 N o r t h e r n X H
•170
175
L a s t S a l e 111
100
17 0 J a n 8 171 J an 2 8 17 0 J a n 175 J a n
<230
......... *230
*230
2 3 0 J a n 0 *231 .Tan 6 2 3 0 J a n
.......... L a s t S a l e 231
*230
J a n ’ 03 N o r w ic h
W o r p r e f 100
*2 1 0 212
211
211*2 2 1 1 *2 2 1 2
21 1
211
61 20 7 J a n 3 2 1 2 % F e b 13 2 0 6 D e c 21 7
A pr
212*2 212*2 O ld C o lo n y ................... 100
782 8 0 J a n 28 8 4 J a n 22
80
SI
81*4 82
81
81*2 * 8 0 *o 81 *4
68 M ay 85 % S ep
82*2 P e r e M a r q u e t t e ..........100
81*2
80
80
*80
Si
80
80
*80
81
81
65 8 0 J a n 2 85 J a n 9 7 9 % M ay 91 J T y
81
D o p r e f ............... 1 0 0
*66
09
♦.......... 70
*65
70
35 65 F e b 2 71 J an 20
68
6 4 % D e c 1 2 5 *4 A p r
68
R u t la n d p r e f
........100
*24
26
*24
26
*24
26
J a n ’ 03 S a v a n n a h E le c c o m .. 100
25 J a n 12 25 J a n 12 25 ~ N o v 3 1 J T y
L a s t S a l e 25
*24
26
80
80
80
80
10 75
*79
82
82
‘ 79
*79
82
J a n 5 84 % J a n 10 5 8 Jan
9 0 M ay
S eat lie E l e c t r i c ..........100
102*2 102*2 <101*2 102*2
25 7 101 J a n 28 1 0 4 % J a n 6 103 O ct 11 0 M a r
•101*2 102*2 102 102
102*2 1 0 2 %
D o p r e f ................. 100
103
103*8 *1 0 2 % 1 0 2 %
565 100% J a n 23 104 *2 J a n 9 9 3 % D e c 1 13 A u g
102*4
1 0 1 78 1 0 1 % 1 0 2 34 103
102*4 U n io n P a c i f i c ............. 1 0 0
9 4 34 9434 ‘ 9 4 % 9 5 %
94*2 94*2
7 6 92 J a n 2 95 J a n 27
94*4 94*4
8 6 % M ar 94 % A u g
94*2
94*2
D o p r e f ................. 100
ri
1 7 6 17 6
‘ 175
178
'1 7 5
178
*175
1 78
♦175
178
i 175*2 F e b 5 176 F e b 9 172
Jan 178 J T y
V e r m o n t & M a s s ___ 100
43 3 9 4 J a n 15 97 F e b lO
*96
..........
9 6 *2 96*2
96*2 97
9 6 % 9 6 *2
97
97
92 % O ct
W e s t E n d S t ................ 50
99
M ar
.......... 115
38 11 1 J a n 3 115 % F e b 10 l l l * o D e c 117 J ’ n e
*114
.......... *1 1 4
115*8 115*8115*8
115%
D o p ref
,
50
115%
J a n ’ 03 W is c o n s in C en tra l
19 % Jan
L a si S a l e
io n
2 6 % J an 15
3 4 % J ’l v
J a n ’ 03
L a s t S a l e 52
D o n ref
100
52 wJ a n 15 5 2 J a n 15 39 % J an 55 % S ep
150 150
78 1 50 J a n 14 1 5 0 J a n 14 145 N o v 1 5 2 % M ay
150
150
W o r e N a s h <fc R o c li 1 0 0
lH is c e lln n e o n s
25
19 D e c 3 2 % J T y
*24
24%
24
24*2
24*2 2 5 7g
2 5 % 26
25% A m e r A g r ic u l C h e m .1 0 0 2 ,0 2 5 22 J a n 6 2 6 F e b 11
*8 3
84
84
84
361 81 J a n 5 8 4 % F e b 13 7 6 % D e c 91 J T y
84%
83
84
83*2 84*4
84*2
D o p r e f ................. 100
*5%
6
45 2
5%
6
*5*4
6
5 Jan 5
4 Jan
5%
5%
6 J a n 16
9% M ay
5*2
5*2 A m e r P h e u S e r v ........ 50
*20
..........
*20
21
107 15 J a n 2 22 J a n 8 21 J ’ ne 37 % M ay
20
20
*2 0
20
20
21
D o p r e f ................. 5 0
132*4 1 3 0 % 131*4
130%
1 3 0 % A m e r S u g a r R e f in ___ 1 0 0 4 ,5 9 5 127*4 J a n 3 134*4 J a n 8 1 1 2 % N o v 1 3 5 % M a r
129
1 2 9 34 13038 13158 1 3 1
121*6
158 1 2 0 J a n 6 121 * J a n 9 115 J a n 12 3 S ep
121%
2
121%
121*
2121*2 121 121*2 121*2 121*2 121
D o p r e f ................. 100
165
103*2165
165*4
164*2 165*4 1 6 4 34 165*4 1 6 5
1 6 5 % A m e r T e le p & T e le g .1 0 0 4 ,5 7 6 161 J a n 24 165 % F e b 13 155 M a i 1 8 5 % A p r
701 12 *2 J a n 7 14*2 F e b 7 12 D e c 1 7 % J a n
14
14
14
14
14*2 ‘ 13*2 14
13*2
A m e r W o o l e n ..............100
14
14*2
391 7 6 % J a n 5 79*4 J a n 22
79
79
78% 79
78%
73 A p r 8 0 % J a n
79
79
78*2 79
78%
D o p r e f ................. 100
* 4 % ..........
130 4 7i 6 J a n 26
4*4
5*8
3% M ay
*4%
5% J a n 22
4 % M ay
p- *4*2
5
* 4*2
5
B o s to n L a n d
.
10
4 0 1 2 0 J a n 3 0 127 * J a n 6 1 2 2 % A p r 130% A p r
*123*2124
*123% 124
•122
.......... ♦123 125
124*2 124*2 C n m b e r l T e le p
T e l 100
52*2 53%
50*2 52%
53
54
54
52*2 5 3 7g
54
79% A ug
D o m in io n I r o n & S t ........ 4 ,0 3 0 50*2 F e b 10 62 *4 J a n 2 2 5 J a n
*7%
8*4
*7%
8*4 L a s t S a l e 8
7*g J a n 12
7 N ov
9 % M ar
8 % J a n 23
F e b ’ 03 E a st B o s to n L a n d .............. . . . . . .
"7 %
8*4
* ? 78
8*4
91 7 26 5 J a n 2 2 8 6 F e b 13 2 4 4 J a n 2 85 M ay
283%
279 279
2 8 0 282*2 2 8 2
278 280
285
286
E d is o n E le c I l i u m . . . 100
201
74 8 182 J a n 3 20 2 F e b 13 171% O c t 3 3 2 % A p r
*192
195
194*2 195
194*4 194*4 197
199%
202
G e n e r a l E l e c t r i c ........ 1 0 0
42
43%
3 6 % N o v 41 % N o 7
41
42*2
43
43% M a s s ’ ch u s e ttsG a sC o slO O 3 3 ,1 6 6 4 0 F e b 3 43 % F e b 11
40*2 41*2
40*2 40*2
6 ,7 4 5 84*2 J a n 3 8 5 % F e b 13 8 2 N o v 87 * O c t
4
84% 85
85
85*2
85%
85
85
8 4 7e 85*8
85*4
D o p r e f ................. 100
117 18 0 J a n 7 190 F e b 2 17 0 J a n 19 0 S e p
188*2 1 8 7 188%
M e r g e n tlia le r L i n o .. 100
182*2 187
188*4 188*4 *187*2 1 8 8 38 ‘ 1 8 7
400
2 Jan 3
2*2 J a n 29
3% A p r
2 *2
2 *2
1% D e c
‘ 2*4
2*2
2*4
2*4
2*2
2*2 M e x ic a n T e le p h o n e .. 10
* 2*0
2*2
100 85
v.......... 87
‘ .......... 87
F e b 13 8 6 J a n 2 87 N o v 9 3 % J ’ n e
85
85
* .......... 87
N E C o tto n Y a r n p r e f 100
* .......... 87
26 4 135 F e b 4 139 J a n 2 135 J a n 151 A p r
136
*135
137
136*2136*2 136 136*2 1 3 6 137
136*2 N E T e le p h o n e ............100
8 5 8 15 J a n 12 2 0 J a n 6 21 D e c 4 1 % S ep
16
16
15
‘ .......... 17
15
* .......... 17
* .......... 17
P la n t C om p n e w c o m . 1 0 0
29 230% J a n 5 2 3 7 J a n 9 2 1 6 J a n 2 5 0 J T y
*2 3 2 2 3 5
♦..........2 3 4
232
23 5 23 5
235
P u llm a n C o ................... 1 0 0
* 2 3 3 23 5
7
9 % F e b 9 10 F e b l 3
6 Jan
*9*4
9%
10
10% O ct
10
R e e c e B u t t o n - H o l e .. 10
*9*4
9 34
*9*4
9 34
9*2
9*2
ISO 123*2 J a n 18 132 J a n 5 100 J a n 177 J T y
‘ 126 128
126
126
<126 1 2 8
126
126
S w ift & C o ................... 1 0 0
*126
12a
‘ 26
27
25*2 J a n 15 2 6 % J a n 15 2 6 O c t
27 Jan
*26
27
<26
27
F e b ’ 03 T o r r in g t o n C la ss A . . 25
• 26
27
L a s t S a l e 26*2
30 O ct
♦29% 30
* 2 9 34 30
‘ 2 9 34 30
J a n ’ 03
D o p ref
.
..25
29 J a n 21 2 9 % J a n 5 2 8 J a n
2
* 2 9 34 30
Last S a le 291
85 3
1 % Aug
1% J a n 12
3 % F e b 13
2% M ar
*3
3*2
3 % U n io n C o p L ’ d & M g . 25
3*4
3*4
*3*8
3*2
3%
*3
3*4
1 0 9 34 lOO3* 109*2 110
109% 109%
n o
U n ite d F r u i t ................1 0 0 3,2 63 108% J a n 5 111 J a n 10 8 5 % J a n 11 7 S ep
109*2
•109*2 116
31 8 50 J a n 20 53 J a n 2 4 6 J a n
*5 0
51
57*4 M a y
51
51
51
51
50%
51
U n ite d S h o e M a c h .. . 25
51
51
345 3 0 *2 J a n 6 31 % F e b 5 29 J a n
31
31
33*2 A p r
31*2
31
31*2
D o p r e f ................. 25
31
31*2 *31
*3 1
31*2
11*4 J a n
15 *4 S ep
15
15%
14%
15
U S L e a t h e r ................. 100 2 ,5 5 5 1 2 % J a n 15 1 5 % F e b 11
14*4 1 4 34
1 3 7s 14*4
170 8 9 % J a n 19 93 F e b 13 80*4 J a n
91% Sep
93
D o p r e f .... ............ 100
93 '
91*8 91*2
16*2 J a n 27 1 8 % F e b 6 1 3 % J a n
19% O ct
L a s t S a l e 25%
F e b ’ 03 U S R u b b e r ................. 1 0 0
62% M ar
53 F e b 4 57*2 J a n 9 4 9 J a n
I, a s t S a l e 5 3
F e b ’ 03
D o p r e f ____ _____100
39
39%
39
3 9 58
3 9 *2 3 9 5g
38% U S S te e l C o r p ............100 3 ,0 9 9 3 6 % J a n 2 3 9 % F e b 5 2 9 % D e c 4 6 % J a n
38*4
3 8 % 39
652 8 6 % J a n 23 8 9 % J a n 7 7 9 % D e c 9 7 % J a n
89
89
89
89%
88%
D o p r e f ................. 100
89
89
89
89*4
88*4
*•60
*90
J a n ’ 03 W e s t E n d L a n d .......... 25 . . . . . . •50 J a n 14 •60 J a n 13 •72% M a i 1*12% A p r
*•60
'9 0
‘ •60
-90
L a s t S a l e ' 50
* *60
-90
23 0 2 3 *2 F e b 2 2 8 J a n 12 22 D e c 3 3 % A p r
24
24
*24*2 24%
25
W e s t T e le p & T e l e g .l O o
2 4 34
24*2
24*2 24*2 ‘ 2 4
75 3 9 7 *2 F e b 3 1 0 1 % J a n 15 91 F e b 1 0 6 % A p r
99
99
99
99
99
98
98
99
D o p r e f ................. 100
9 7 34 9 8
*106
109
10 4 J a n 5 10 8 F e b 2 8 6 % J a n 1 1 5 % A p r
‘ 10 4
107
‘ 105 1 0 7
• 1 0 4 107
L a s t S a l e 106*2 F e b ’ 03 W e s t in g El<fc M f g . . . 50
75 104 J a n 2 110 J a n 29 89 J a n 117 A p r
110
107
D o p r e f ................. 50
107
105*2 105*2 *1 0 8
105*4 105*4 *1U5 107
M in in g
2
15
15*2 L in c o l n ’ s
15
16
16
16
16*4
15*2 16
15*2 A d v e n t u r e C o n ............ 25 2 ,8 7 5 14 J a n 29 18 J a n 2 1 2 % D e c < 24% A p r
2 Aug
6*2 F e b 10
4% M ar
3*4 J a n 3
5%
6 % B ir t h d a y .
A l l o u e z ........................... 25 13,410
5*2
6 3b
6
6*2
6
5 1510
5*4
0*2
5 3 % N ov 7 8 % F eb6 9 % 70*2
6 9 % 70*4
70*2 A m a lg a m a te d C o p p e r 100 3 0 ,7 1 9 62*2 J a n 14 71 F e b l O
683 b 69*4
6 9 78 71
69*2
*
1 % N ov
40 0 •50 F e b 9
1*4 F e b l o
3% A p r
•50
*50
*1
1*2
1 A m e r G o ld D r e d g in g
5
* .......... *50
1*4
1 *4
700
6 D ec 16% JT y
6 J an 2
8 F e b 11
♦..........
7
7*2
8
A m Z in c L e a d &, S m . 25
*
.
7
7*2
734
8
8
28
28
28
A n a c o n d a ....................... 25 1,220 23*2 J a n 12 2 8 *2 F e b 9 21 N o v 3 5 J a n
28
28*2
27 > 27*2
-2
28*8 28*2
28
3 % Jan
6 % F eb 9
13*4 M a r
4 % J an 3
5*2
5%
5%
5*2
5%
5*2
6*8
4 78 5916
5*2 A r c a d i a n ....................... 25 20,041
1 Jan
100 •45 J a n 24 •75 F e b 13 •37% D e c
‘ •50
-75
•75 A r n o ld ........................... 25
• '5 0
*75
*•50
*75
*•50
'lb
'7 5
6 D ec
9 D eo
12% 13*2
8 *2 J a n 2 1 4 % F e b l O
12 76 14*8
10
10*2
13*2 A t l a n t i c ......................... 25 8 ,091
10*2 13*2
12%
20% Jan
39 % A p r
38*4 38%
B in g h a m C o n M im fc S 50 10,639 29*2 J a n 1 3 9 % F e b lO
38
3 8 34
39
38Je 3 9 %
3 8 34 39*2
38*2
•SO
'8 0
•80
B o n a n z a (D e v C o ) . . . 10 2 ,2 5 0 •65 J a n 14 •85 F e b 7 •40 J T y 1*20 M a r
•75
’85
•"SO
*90
•80
’8 5
•so
2 Jan
5 A pr
♦..........
3
* ..........
3
*
3
‘
3
L a s t S a, l p 5
A p r ’ 02 B o sto n (Q u ic k s ilv e r ) 10
5 % S ep
1 0% M ar
8 F eb 3
4 % J a n 20
‘ 6%
6 % L a s t S a l e 6%
5
F e b ’ 03 B r itis h C o lu n i ( L t d ) .
*6*4
6 34
*6 *2
7
* 6*4
7
562 49 8 J a n 6 5 5 0 F e b 9 4 2 0 D e c 6 5 0 F e b
£525
530
530
544
55 0
C a lu m e t & H e c l a ___ 25
530 545
5 4 0 547
525
Jan
•10
*10
* '0 8
*10
•10 C a ta lp a ( S i l v e r ) .......... 10 1 ,4 5 0 •OS F e b 10 T O F e b 11 TO A p r T 2
*•08
*10
•08
*08
'1 0
11 J a n
28 M ar
30
30%
2 7 % 50
31% C e n t e n n i a l ................... 25 4 3 ,7 2 7 19*4 J a n 2 3 1 % F e b 10
30*4 31*2
30*4 3 1 7s
30*2
8% M ay
6*4 D e c
50
7*2 J a n 20
6 % J a n 31
*7
7%
-7
734
*7
7*4
7*4
7*4
*7
7*2 C e n tr a l O il................... 25
•25 A p r
2 Jan
*
*25
* .......... *25
D e c ’ 02 O oeliiti T r C o r e c t s . 1 0
L a s t S a l e ' 30
1 % J an
2 *4 J T y
1 % J a n 13 1273 2 J a n 2
1%
1%
5 3 ,2 1 5
1%
1% C o n s M e r c u r G o l d .. .
1**16
1%
1**16
1 34 1**16
1%
19% J T y
50 13 F e b 10 15 J a n 30 15
O ct
*1 3
15
15
C o n t in e n t a l Z i n c ........ 25
*14
16
*14
10
13
13
*13
71
73
75
C o p p e r R a n g e C o n C o 1 0 0 4 5 ,1 5 4 59 J a n 3 75 F e b 13 4 3 % M a r 65*4 O c t
6 8 % 69*4
69*2 71*8
71
72%
73
40
40
41*4 4 1 34
4 0 34 41*4
39*2 D a l y - W e s t ................... 20 1 ,5 3 4 36*2 J a n 20 4 4 J a n 8 18*4 M a i 5 6 J T y
41*8 41*2
39*2
54 Jan 1 4 6 % S e p
* .......... 1 3 0
13 0 J a n 23 1 3 1 % J a n l o
+..........129
‘
130
J a n ’ 03 rio u iin io n C oal ..........1 0 0
*129
131
130
D e c 119 J a n
.......... *115*2 . .
118*2 F e b 6 l l 8 % F e b 6 113
*115
.......... L a s t S a l e 716*2 F e b ’ 03
D o p r e f ____ _____1 0 0
* 1 1 5 * 2 .......... * 1 1 5
1% Jan
■5% M a r
4 % F eb 5
4
4
2 % J an 3
4
4*4
4*4
4*4
4
E lm R i v e r ..................... 12 4 ,7 2 5
4
4*8
4
7 % D ec 15% F e b
13
13
13*8 14
13
14
12
12*2
13*4 F r a n k lin ......................... 25 1,575 10 J a n 15 14 F e b 9
13*4
5% Jan
195
2 % D ec
3 J a n 12
2 *2 J a n 7
3
3
2 % G u a n a ju a to C o n s o l..
5
*2*8
3
2%
2%
*2%
3
2%
9% D e c 25 F e b
16*2 16*2
16 *2 17 *2
16*2 I s le R o y a le (C o p p e r ). 25 3 ,0 1 6 10*2 J a n 17 17 % F e b 9
17
17*2
15*2 16*2
16*2
17*4 18
17% 18
16
16%
16
16*2 M a ss C o n s o l................. 25 5,005 15 J a n 8 1 8 F e b 6 12 % D e c 21 % M ay
17*2 1 7 34
3% M ar
1 % S ep
2 *2 J a n 23
2 Jan 5
2*8
2*4
2*4
2*2
2*4
2%
2 % 2% 6
2%
2*2 M a v fio w e r ..................... 25 2 .1 2 0
7 N o v <03*4 M a r
9 J a n 15 11 % F e b 9
11
11
11
11
l l l4 1 1 ^
11*4 M i c h i g a n ....................... 25 1,521
11*8 H * a
11*4
49 % S ep
F e b 13 d 2 7 J a n
56*2 57*2
M o h a w k t ..................... 25 1 2 ,8 9 3 643 % J a n 8 f 5 8
54*2 5 4 34
56
57*2
5 6 34 57%
58
56*2
6 O ct
3 JTy
7% Jan 8
4*2Jan 2
M o n ta n a C oa l & C o k e 25 2 ,3 1 0
634
7
* 6*2
7
6*2
6*2
6 34
6%
J % J Ty
L
4% M ar
2 % J a n 10
1% J a n 28
*2
2%
M o n tr e a l & B o s t o n ..
5 3 ,5 9 3
2
2%
2*8
2*8
2*4
2*8
2*8
1%
1 Jan
1% J a n
1 % J a n 23
1 Jan 2
................. 25
J a n ’ 03 N a tio n a l
*1
1*2
* 1 *8
1 *2 L a s t S a l e 1 %
*1
1 *2
*1
1*2
4% M ar
2 *2 F e b 9 *75 D e c
1 *2 J a n 8
*2*4
2*2
2
2*2
*134
2
2*2
2*2
2*8 O ld C o lo n y .................... 25 1,301
2*8
14 % N o v 25
F eb
22*4 22*2
22
231
«
O ld D o m in io n ( C o p ) .. 25 6 ,9 2 9 17*2 J a n 1 23 % F e b 9
22
23*2
22
21*4 2 2
21*2
73
75
75
79
75
77
74
77
O s c e o l a ........................... 25 8 ,4 8 9 5 9 *2 M a i 8 79 F e b 9 47 % N o v 8 9 % F e b
77
78
21 N o v 3 4 F e b
3 2 % 34
32
32
33*4 34
3 2 34 3 3 ^
3 3 % P a r r o t t ( S ilv & C o p p ) 10 3 ,7 2 4 2 6 J a n 16 34 F e b lO
33*4
5 M ay
3 D ec
7*2 F e b 11
4 % J a n 22
6%
7%
5 *4
5 *2
5*2
6
6
6%
7 % P h o e n ix C o n s o l............ 25 5 ,6 4 0
7*8
F eb
2
3 3 6 107 % J a n 25 1 2 6 * F e b 6 10 0 N o v 147
1 2 4 124
1 25
125
124 126
Q u i n c y ............................. 25
123
123
123
123
1 % J ’ ne
3% M a r
2 % Jan 6
4 F e b lO
3%
3%
334
3 34
3 34
3 34
3 7s
4
3 % R h o d e I s la n d ............... 25 1,115
3*2
4 F eb
1 % Sep
3 J a n 23
1% Jan 2
3
3
2%
3
2 7g
3
2 % S a n ta F e(G old cfe C o p ) 10 1 ,9 4 0
2%
23
4
3
8 N ov 18 M a y
1 3 % 1 3 58
1 2 34 13
13
13*2
13*4 14
13% S h a n n o n ......................... 10 9 ,2 1 6 1 0 % J a n 22 1 4 F e b lO
13%
F eb
838 149 J a n 19 19 0 F e b 6 11 0 D e c 2 81
T a m a r a c k ..................... 25
1S 1
190
186
175
184
185
188
186 189*2 1 8 6
o % J H6
1 J a n 7 l 9ie F e b 9 •50 Jan
125
* 1*2
2
*1
*1
1*2
1*2 T e c u m s e l l ..................... 25
*1
1*2
1 % l 9ie
13 % M ai 1 8 % J iy
29
29%
29
29*2 *28*2 3 0
29%
2 9 % T e n n e s s e e ..................... 25 9 ,5 0 3 17% J a n 28 2 9 % F e b 11
*28
30
J a n 7 9 9 % F e b 11 eZ34 Jan 125 F e b
97*2 99*2
97
98*2
98
9 9 % T r i m o u n t a i n ................ 25 12,955 8 9
95
99
95*2 97
8 D ec 18% M ar
13*4 13*2
13
14
13
13% T r i n i t y ............................. 25 1 ,745 10*2 J a n 20 14 F e b 9
13*2 14
12*2 13*4
3 5 % J ly
S ep
30
30
U n ite d C o p p e r ............100 2 7 ,7 1 9 28*2 F e b 5 3 1 % J a n 2 2 7
2 9 % 30
2 9 34 30*2
30
30
29*2 30*4
23 D e o
2 6 % 26%
26*2 27*2
2 6 % ^7*2
26*4
2 6 % U S M in in g v tr c t f s . 25 4 ,3 2 5 2 1 % J a n 13 2 7 % F e b 9 13*4 J a n
26*4 27
1 4 % 14%
14% U n it S ta te s C oal O il 25 1 6 ,8 4 0 1 3 % F e b 3 15% J a n 5 13 N o v 18*4 J T v
15
15*4
1 4 34 15*6
14*2
1 4 7 15
8
1 9 % JT y 27 % F e b
31*8 32
31%
3 1 34 3 2 %
32% U ta h C on (G o ld )t r r c 4*85 4 ,9 2 3 23*2 J a n 13 3 3 F e b lO
3 1 34 33
31*1 32
i O ct
4 D ec
6 *8 J an 15
9 F eb 9
8%
8%
7%
8%
8*2
9
8*2
9
8*2
8 % V i c t o r i a ......................... 25 2 1 ,0 7 9
6 Aug
5 % J a n 3 10*4 F e b 9 <Z1 Jail
9*2 10
9%
W i n o n a ........................... 25 1 ,889
10
9*2 10*4
9*4
9 34
9 % 10*4
69*2 70
W o lv e r in e ................... 25 3 ,7 1 3 6 6 J a n 8 7 0 J a n 5 42 J an 65 D o c
6 9 % 70
70
69*2 70
69*2
6 9 % 69*2
1% J ly
2 % F e b 9 •50 N ov
1 Jan 8
W y a n d o t ....................... 25 1,000
1%
1%
1%
2%
1%
1%
l 7e
2*8
l 5s l * 3ie
^ & B efore p a y ’t of assess’ts called du rin g 1003. d B efore p a y ’t of assess’ts called d u rin g 1902. * B id and asked prices. | N e w stock. \ A ssessm en t paid.
|

87%
100*2
*201
150*2
•24*2
100
•176
•300
• 153
•122
*•190

87 %
88*4 88*2
101*4 101*4
101
201
201 261*2
150*2 150 151
24 3
242*2 212*2
190 190
1 90
* 17 0 1.7 8
178
30 3
30 1 3 0 2
153 153
154
*122
123
123
196
196
190

8S3| 89 * 1 88*2 8 8 %
2
I O I 34 101% 100*2 100*2
2 6 L 201*2 261 *2 261*2
1 5 0 151
1 50*2150*2
*242 243
*242 2 4 3
1 9 0 190
189
190
* 1 7 6 178
* 1 7 6 178
*301 303
3 0 2 303
154
154
x 153
..........
..........
1 2 2 % 12234 ‘ 122
*192 1 9 6
*1 9 2
196

88
88*2
101
101
262
261
151
151
242%
242*4
189%
190
176
176
*301*2 3 0 5
153
153*4
122%
12 2 %
*192 " 196
L a s t S a l e 1 6*5% Jan ’ 03

L in c o l n ’ s
b ir t h d a y .

F ebru ary

14,

Boston Bond Record

1 9 0 3 .]

1L
S

BOND*
BOSTON STOCK E X C H ’GE
W k ek E n d in g F e b r u a r y 13

P r ic e
J 'r id a y
F eb 1 3

A in B ell T e le p h o n e 4 * ____ 1908 J - J
A m T e le p 6c T e l c o ll tr 4 s . 1929 J - J
A tc h
N e b r a s k a 1 st 7 s . . 1 9 0 8 M - S
A tc h T o p 6 c S F e R en g 4 s . . 1995 A -O
A d ju s t m e n t g 4 s ___ J ’ ly 1 9 9 5 N o v
Bost on 6 c L o w e ll 4S ............1 9 0 7 J-I>
B o s to n 6c M a in e 4 '‘28...........1 9 4 4 J - J
I m p r o v e m e n t 4 s .............. 1 9 0 5 F -A
B ost iS M o n 3d is s u e 7 s . . . 1904 M-N
o
B o s to n T e r m in a l 1st 3 % 8 .1 9 4 7 F -A
B o st Un G as 1st 5s t r r e c ts -1 9 3 9 J -J
2d 5 s t r u s t r e c e i p t s ........1939 J -J
B u r 6c M o R iv o x o s ............191 8 J - J
N o n -e x e m p t 6 s .................. 1 9 1 8 J - J
S in k in g fu n d 4 s .................1 9 1 0 J -J
B u tte tfc B o s to n 1 s t 6 s -----1 9 1 7 A -O
C ed a r R a p 6c M o R 1st 7 s . 1 9 1 0 IVI-N
2d 7 s ....................................... 1 9 0 9 J -I)
C e n t V e rn it 1st g 4 s . . M a y 1920
C h ic B u r l & Q 1st 7 s ..........1903 n
I o w a D iv 1st 5 s .................1919 A -O
I o w a D i v 1 st 4 s ................. 1919 A O
D e b e n t u r e 5 s .......................1913 IVI-N
D e n v e r E x te n 4 s ..............1 9 2 2 F-A
N e b r a s k a E x t e n 4 s ........ 1927 M-N
B 6c S W s t 4 s .................... 1921 M-S
I l lin o is D iv 3 % s .................1949 J - J
J o in t b o n d s S ee G t N o r t h e r n
C h ic J c R y 6c S tk Y d s 5s . 1915 J -J
C oll t r u s t r e fu n d in g g 4 s l9 4 0 A -O
Ch M il 6c S t P D u b I) O s.. 1920 J - J
C li M 6c S t P W i s V d iv 6 s l9 2 0 J - J
C h ic 6c N o M ic h 1 st g u 5 8 .1 9 3 1 M-N
C liic 6c W M ic h g e n 5 s ___ 1921 J -D
C o n c o r d 6c M o n t c o n s 4 s . . 1 9 2 0 J -D
C o n n 6c P a ss R 1st g 4 s . . . 1943 A -O
C u r r e n t R iv e r 1 s t 5 s ..........1927 A -O
D e t G r lt a p 6c W 1st 4 s . . . 1940 A -O
D o m in io n C oa l 1 st O s ........ 1 9 1 3 M S
E a s te rn 1 s t g o ld Os...............19 0 0 :vi-s
F it c h b u r g 4 s .......................... 1904 M - S
4s .............................................1 9 2 7 M - S
F re n it E lk 6c M o V 1 s t O s .. 1 9 3 3 A O
U n s ta m p e d 1 s t 6 s . . . ........1 9 3 3 A -O
G t N o r C B & Q c o ll tr 4 s 1921 J - J
R e g is t e r e d I s ...................... 1921 Q-J

W eek 's
M a n ge o r
L a s t S a le

M a n ge
S in c e
-§ $
J a n u a ry 1
T 1
H i g h A’o\ L ow H ig h
99 % 11 98% 99%
98 % 29 97% 9 8 %
11 3 % ;> 1 1 3 % 1 13%
9 1 0 0 % 101%
101 U
7 90% 92%
92

H id
A s k L ow
99
9 9 % S a le
9 8 % S a le
98%
n : 3%
i()2 * i()2% 1 0 1 %
91 %
92 % S a le
I0 4 % A p r ' 0 0
1126% A p r ’ 0 1
j 99% J a n '0 2
104 A p r ’ 02 1. . . .
1 13 % Jan ’ 03 ___
110
166
1 1 0 S a le 1 0 0 %
fto%
80
S ale
146
86
110
........ 117% D e c ’ 02
1 0 5 % J ’ ly ’ 02
99 % F e b ’03
100 J ’ n e ’ 01
S e p ’01
138
1 1 7 % F e b ’ o*
87
"*i
87
Sale
87
1 0 0 7,
1 0 0 % S ale 100%
110 A p r ’ 01
103 % O c t
1 0 5 % S a le 105%
”2
100 F e b
....
.
i b o " H i l l 100 D e c 0 *
99%
"9 6 * m u
90
2
96 h

..............
......................
113 % 113 %
1 02% 110
80
86
' 9 9 % ' 99%
117 % 117%
8 6 % 88
1 0 0 % 101%
105% 105%
99% 100
96

96%

8 1 0 5 % 107%
107
107
S a le 107
3 98
98
98%
127
127
128
........ 127% F e b ’ O
F e b ’ O 1 . . . . 127
127
........ 127
127%
107
3 106% 106%
J0 7
S a le 1 0 0 %
107
11 1 0 6
107
S a le 1 0 0 %
107%
109% M a r ’ O
112% J a n ’ () 1 . . . . 1 1 2 % 112%
2 1 0 2 % 103%
1 0 3 % S a le 103%
99 % 100
9 9 % ........ . 99 %
3 ....
<
109
........ 1 0 8 % J a n * 3 . . . . 1 0 8 % 1 0 8 %
107
........ . 1 0 7 % J a n ’ < 1 . . . . 107
107%
100% M a r’ < 2 . . . .
1 1 1 % M ay’ < i . . . .
138 F e h ’ i 3 . . . . 1 3 8 " 1 3 3 ’
137% F e b ’ < 3 . . . . 137% 137%
IV 8 94 9 3 % 9 4 %
A
9 3 78 S a lo
93%
3 ....
94
94
94

373

BONDS
v. -Z
B O S T O N S T O C K K X C H 'G E |C ?
W e e k E n d in g F e b r u a r y 13
I llin o is S te e l d e b e n 5 s ___ 1 9 1 0 J - J
N o n -c o n v e r t d e b e n 5 s . . . 1 9 1 3 A -O
l a F a lls 6c S io u x C 1 st 7 s . .1 9 1 7 A -O
K an C C lin 6c S p r 1st 5 s . . . 1925 A -O
K a il C Ft S 6c G 11L 1st 7 s . . 19081 J -J>
I
K a il C F t S c o t t 6c M 6 s ___ 19281 M-N
K a n C M 6c B g e n 4 s ............1934 M -S
In c o m e 5 s ................... M a r l 9 3 4 iSp 1

P r ic e
F r id a y
F eb 13

J ia n g e
S in ce
j! J a n u a r y 1
ll

H id
101
101

K ail C St J o * C B 1 s t 7 s . . 1907 I J - J '
L R 6c Ft Sin Id g r 1 s t 7 s . . . 1 9 0 5 J - J
M a in e C ent c o n s i s t 7 s . ..1 9 1 2 A -O ,
C o n s 1st 4 s ......................... 1912 A -O
M a rq H o u g h * O u t 1 st 6 s . 1 925; A -O
M e x ic a n C e n t r a l c o n s 4 s . . 1911 J J
1 st c o n s i n c 3 s ............J a n 1 9 3 9 J ’ ly
2d c o n s in c 3 s ............J a n 1 9 3 9 J ’ ly
M i d i T e le p c o n s 5 s t r r e c . 19291 J - J
M in n e G en E le c c o n g 5 s 1929| J - J
N e w E u g C o t Y a rn 5 s ----- 1 9 2 9 F-A
N e w E n g T e l e p h 6 s ............1900| A -O
6 s ............................................ 1 9 0 7 A -O
6 s ............................................ 19081 A -O
5 s ............................................ 1 9 1 5 1 -O
A
N Y * N E n g 1 s t 7 s ............ 1 9 0 5 J -J
1st 6 s .....................................1 9 0 5 J -J
O ld C o lo n y g o ld 4 s ..............1924 F -A
O r e g R y * N a v c o n g 4 s . . 1 9 4 6 J -I )
O r e g S h L in e 1 s t g 6 s ........ 1 9 2 2 F -A
R e p u b V a lle y 1 s t 8 f 68. . . 1 9 1 9 J - J
R u t la n d 1 st 6 s ....................... 1 9 0 2 M -N
R u tla n d -C a n a d ia n ls t _ 4 s l9 4 9 J - J
S a v a n u a h K lee 1st c o n s 5 s. 1 952 J - J
S e a ttle E le c 1 s t g 5 s .......... 1 9 3 0 F -A
tt'o r r in g to n 1 st g 5 s ............1 9 1 8 M -S
U n io n P a c R K 6 c 1 g r g 4 s . 1 9 4 7 J - J
1 s t lie n c o n v 4 s ..................1 9 1 1 M-N
U n ite d F r u it c o n v g e n 5 s . 1 911 M -S
V e r m o n t * M a s s 5 s ............1 9 0 3 M-N
W e s t E n d S t r e e t R y g 5 s . . 1902 M-N
G o ld 4 % 8 .t . ......................... 1 9 1 4 M -S
G o ld d e b e n t u r e 4 s ............ 191 6 M-N
G o ld 4 s ...................................1 9 1 7 F-A
W e s t e r n T e le p ) 1 6c T e l 5 s . 1932 J -J
W is c o n s in C e n t 1 s t g e n 4 s l 9 4 9 J - J
W is c o n s i n V a lle y 1 st 7 s . . 1 9 0 9 : J - J

N o t e — B u y e r p a y s a c c r u e d in t e r e s t in a d d it io n t o th e p u r c h a s e p r ic e fo r a ll B o s t o n B o n d s .

cc
5
\
'25

W eek 's
M ange o r
L a st S a le

A sk lL o v j
H i g h \ y o ' L ow H i g h
..........1 0 1 % D e c ’ 02
101
101% i io| Loi" i o i ’
4
1 3 2 % J ’ n e ’0 2 ;.
1 0 2 % ____ 103 J a n ’ 0 3 . III 1 0 2 % i o 3 ~
112
D e c ’ 02
112
123
123 | 2 |
. 123
122
124%
98
100
98% F e b ’ 03 . . . .
98
99
90
S ale
90
90 |
89
91
\
. 110
1 1 0 % J ’ n e ’ 02
111 J a n ’ 03 —
110 % m
104 J a i l ’ 03
104
. . . . . 104
104
1 2 8 J ’ly ’ 02
....................... 1 0 5 % M a y ’ 01
1 18
1118 S e p ’ 02
7fU
76 %
76 %
76 \ S a le
75% 76%
2 6 J a n ’ 03
26
26
2 1 % J ’ n e ’ 02
•II.......................
D e c '0 2
.......... 8 3
M a r ’ 02
..........'1 0 4
-|l.......................
F e b 03
102
102
10 3
102 % 102
.........................1104 A p r ’ 02
F e b ’ 02
105
104
N o v ’ 02
104
.......... 104
...................... 1 0 7 % O c t ’ 02
1 0 5 % ..........1 0 5 %
106
1 05% 10 6
1
1 0 3 % ..........103% -Tan ’ 03
103% 103%
...................... L12
M iy’ 01
...................... 100 % O c t ’ 02
124% N o v »0 2
105
O c t ’ 02
100 J ’ n e ’ 02
102
M a r ’ 02
98 100
. . . . . . 9 6 % 95% Feb’03
95% 95%
106
1 0 5 % 1 0 6 % 10 6
1 0 4 % 10 6
(108% J ’ l y ’ 01
.......... 1 0 2 % N o v ’ 02
.......... 1 0 5 % J a n ’ 03
]0 5 % 1 06
11 1
111
110
111
100
S e p ’ 02
1 01
O c t ’ 02
1 0 8 J a n ’ 03 . . . 1 0 0 % 1 0 8
1 0 4 % A u g ’ 02
104
104%
j; 1 0 3 % 1 0 4 %
9 104% 105
104%
lu 4 % S ale 1 0 4 %
8 7 % J ’ l y ’ 01
119% M a r ’ 02

x N o p r ic e F r id a y ; la t e s t b id a n d a s k e d .

M T r u s t C o. c t f s .

Philadelphia and Baltimore Stock Exchanges—Stock Record, Daily, Weekly, Yearly
S h a r e P r i c e s —N o t P e r C e n t u m P r i c e s
M onday
F eb 9

S a tu r d a y
F eb 7
7 0%

1 u esd ay

F eb
70%
*115 ~
26%
*4 2 %
*13%

70%

*115
26%
26
*26
43
*42 % 42 %
* 1 3 % 13 % * 1 3 %

26
43
14

T h u rsd a y
F eb 12

W ed n esd a y
F e b 11

10
70%

*115
26%
26
43
42%
14
13%

*%

%

*%

%

*%

%

25
8 %(j
34
78
44 %

25%
8
33%
78%
44%

25%
8
33%
78%
44%

25%
7%
33%
78
44%
3%

25%
8
33%
78%
44%
3%

25
8
*33%
78
44%
3%

25%
8
33%
78
45
3%

75 % 7 5 %
75% 75%
47
46
4 6 % 47%
8
8 1ie
8 %o 8 1ie
18
16
16
*16
3 2 % 0 3 2 % 3 H % 0 327 lfi
44% 44%
44% 44%
* 3 8 % 38% * 3 8 % 38%
46% 47
46% 40%
1 13 % 1 1 3 % 1 1 3 %
1 )3

P H IL A D E L P H IA
In a c tiv e S to c k s
A m e r ic a n C e m e n t........ 10
A m e r I r o n 6 c S t e e l___ 50
A m e r ic a n R a i l w a y s .. .5 0
B e ll T e le p h o n e ..............50
C a m b ria I r o n ................. 50
C am d en <fc T r e n t o n ___ 10
C e n tra l C oa l 6c C o k e . 100
P r e f e r r e d ................... 100
C on sol T r a c P i t t s ..........50
P r e f e r r e d ..................... 50
D a n v ille B e s s e m e r ... 1 %
D ia m o n d S fa te S t e e l ..
P r e f e r r e d ...........................
E a sto n C on E l e c t r i c . . . 50
E le c t r ic o f A m e r i c a .. . 5 0
E le c S to r a g e B a t t ___ 100
P r e f e r r e d ................... 100
G e rm a n to w n P a s s ........50
H a r r is o n B r o s p r e f . . . 1 0 0
H e s t o n v M a n 6c F a ir ..5 0
P r e f e r r e d ..................... 50
Im h a u a p o ls S t ..............100
I n t e r Sm P & D y 11a m . . 50
L it B r o t h e r s ................... 10
L ittle S c h u y lk ill............50
M in eh illtfc S c h u y l 1 1 ..5 0
N e s q u e h o n in g ..............50
N H a v e n Iroh cfc S t c e l.5
N o r th P e n n s y l v a n i a ..50
P e n n s y lv a n ia S a lt ........50
P e n n s y lv a n ia S t e e l.. 100
P r e f e r r e d ................... 100
P ln la Go (P it t s ) p r e f . . . 5 0
P h il G erm a n 6 c N o r r i s .50
P liila T r a c t io n ............... 50
R a ilw a y s G e n e r a l........10
S u sq u e h I r o n & S t e e l ..5
T id e w a te r S t e e l............10
U n ite d N J R R & C .. 100
U n i t P o w Sc T r a n s ___ 25
U n ite d T r a c P i t t s ........50
P r e fe r r e d ...................... 50
W a r w ic k I r o n 6 c St e e l. 10
W e s t J e r s e y 6 c S e a S h .5 0
W e s tm o r e la n d C o a l.. . 5 0

B id

A sk

8%

8%

51%

52%

48%
4

2%
9%
81%
142

9%
146

11
11
63%
65
109

64%

110

*9oV ,
48%
167
168%
98
98%
4%
4%
2%
2%
4%
282
280
48
4%
72%
81

52
5%

( F o r B o n d s a n d I n a c tiv e
S to c k s see b e lo v ))

F rid a y
F eb 1 3

•
•

3
O
O
t"*
C
O

*75% 75%
4 5 % 46
* 8 %o 8 % «
15 % 15%
31% 3 2 %
*44% 4 4 %
* 3 8 % 38%
46% 46%
113% 114

STOCKS

S a les
o f th e
W eek
S h a res

B a ltim o r e
7 0 % 7 0 % C o n s o lid a te d G a s . . . . . . .1 0 0
* 7 0 % 71
N o r t h e r n C e n t r a l ........ . 50
* 1 1 5 % 11G
*115
.
S e a b o a r d A i r L i n e ___ 100
26
26
26
*25% 26%
D o p r e f .................... .1 0 0
*4 2
43
42%
U n ite d l i y <fc E l e c t r i c . . 50
13%
1 3 % 1 3 % * 1 3 % 14

%
25
8 1i 0
34
78
4 4%

A C T IV E

75% 75%
47% 47%
8 %e 8 i lo
*1 6
16%
32
32% «
*44
44 l4
38%
*3 8
46% 46%
113% 113%

m

S
H
W
w
0
•
•

P H IL A D E L P H IA
B onds
A l V a l E e x t 7 s 1 9 1 0 A -O
A s p h a lt C o 5 s 1 9 4 9 tr c tfs
A t l C ity 1 s t 5 s g ’ 1 9 .M -N
B a lls T e r 1 s t 5 s 1 9 2 6 . J -D
B e r g & E B r w 1 st 6 s ’ 21 J-J
B e tlile S te e l 6s 1 9 9 8 .Q -F
C lie & D C a n 1 s t 5s ’ 1 6 J -J
C h o c 6c M e 1 st 5 s 1 9 4 9 J-J
C li O k
g e n 5 s ’ 19 J -J
C it S t R y ( I n d ) c o n 5s '3 3
C o l S t R y 1 st c o n 5 s 1932
C o n T r a c o f N J 1 st 5 s . ’ 33
E 6c A 1 s t M 5s 1 9 2 0 M -N
E le c * P e o T r s tk tr c t fs
E lm * W i l 1 s t 6 s ’ 1 0 . J-J
I n c o m e 5 s ___2 8 6 2 . A -O
E q II G a s -L 1 st g 5 s 1 9 2 8
H & B T o p c o n o s *25 A -< *
I n d ia n a p o lis R y 4 s . 1933
L e h ig h N a v 4 % s ’ 1 4 .Q -J
l i R s 4 s g ........1 9 1 4 .Q -F
G e n M 4%S g . 1 9 2 4 . Q -F
L e h V C 1 st 5 s g ’ 3 3 . . J-J
L e li V e x t 4 s 1 st 1 9 4 8 . J -D
2 d 7 s 1 9 1 0 .................M -S
C o n s o l e s 1 9 2 3 ........J -D
A n n u it y 6 s .............. J -D
L e h V T r a c 1st 4 s ’ 2 9 . J-l>
N a t A s p h a lt 5 s 1 9 5 1 .J -J
N e w C 011 G a s 5 s 1 9 4 8 J-l>
N e w a r k P a ss c o n 5 s 1 9 3 0
N Y P li <fc N o 1 st 4 s ’ 3 9 J-J
I n c o m e 4 s 1 9 3 9 . . . M -N
N o P e n n 1 st 4 s ’ 3 6 . . M -N
D e b e n 6 s 1 9 0 5 ........M -S
P e n n g e n 6 s r 1 9 1 0 .. V a r
C o n s o l 6s c 1 9 0 5 .. . Y a r
C o n s o l 5 s r 1 9 1 9 ... Y a r
P e n n 6 c M d S t e e l c o n 6 s.
P a 6 c N Y C a n 7 s ’ 0 6 .J -1 )
C on 5 s 1 9 3 9 ..............A -O
C on Is 1 9 3 9 ............. \ ' >
P e n n S te e l 1 st 5 s ’ 17 M -N
P e o p le ’ s T r t r c e r t s 4 s ’ 43
P C o 1 s t * c o l t r 5 s ’ 49 M -S

* B id and a sk e d p r i c e s ; n o s a le s o n th is d a y .

25
8
33
77%
43%
*3%

25%
8
33%
77%
44%
3%

%
%
75% 75%
47% 47%
8
« l io
15% 15%
3 1 7i« 3 2
* 4 3 % 41
*3 7 % 38
47
47
1 1 3 % 113%
M id

A sk

122
115
114
109%
109
107%
107%
100^

108
107%
87%
109
104
109
109
116
123
121%
136
5
107

110
106
109%
117
124
140
108
100

91
112

iis "

118%

i ‘1'3"

126"

115
108%
99
104% 104%
111%
111

| L o w e s t is e x -d iv id e n d .
|

L o w est

57

70% F eb
115% Jan
64 2 2 5 % J a n
30 0 4 2 J a n
200 13 % J a n

P h ila d e lp h ia
A m e r ic a n A l k a l i ........ . 50
% Jan
D o p r e f ................... . 50
C a m b r ia " S t e e l................ 50 1 ,5 8 7 2 4 % J a n
C o n s o l L a k e S u p e r io r . .1 0 0 2 ,2 4 7 6 13i 0 J a n
D o p r e f .................... .l O o 1,944 3 0 J a n
L e liig li C o a l Sc N a v . . . . 50
5 36 7 2 J a n
L e h ig h V a l l e y ................ . 50 5 ,4 4 9 3 7 % J a n
60
M a r sd e n C o ..................... .1 0 0
3% Jan
% F eb
N a t io n a l A s p h a l t ..........
D o p r e f ................... . 50
77
% Feb
P e n n s y lv a n ia R R ........ . 50
638 74% F eb
P h ila d e lp ’a C o ( P it t s b ) 50 12,412 4 4 % J a n
7% J a n
P h ila d e lp h ia E le c t r i c . . 25 5 ,0 8 0
227 1 4 % J a n
P liila R a p id T r a n s i t . . . 50
R e a d i n g ........................... , 50 2 6 ,7 9 3 29151e J a n
154 4 2% J a n
I )o 1s t p r e f ............ . 50
D o 2 d p r e f .............. . 50
36% Feb
U n io n T r a c t o n .............. . 50 2 ,2 9 9 4 6 % J a n
U T n itedG as I m p t .......... . 50 5 ,1 8 2 1 10 J a n
W e ls b a c li C o .................. .1 0 0 .......... 2 4 J a n

121%
121
24%
24
1 1 0 % 111
95
90

io o "

M a n g e J or Y e a r
1903

P H IL A D E L P H IA
P h il E le c g o ld t r u s t c t f s .
T r u s t c e r t ifs 4 s ...............
P * E g e n M 5 g ’ 2 0 . A -O
G en M 4 s g l 9 2 0 ..A * O
P li * R e a d 2 d 5 s ’ 3 3 . A -O
C o n M 7s 1 9 1 1 ........ J -D
C oil M 6 s g 1 9 1 1 . . . . J -D
E x I m p M 4 s g ’ 4 7 . A -O
C o n M o f ’ 8 2 4 s ’ 3 7 .J -J
T e r m in a l 5 s g 1 9 4 1 .Q -F
P W * B c o l t r 4 s ’ 2 1 . J -J
R o c h e s t e r R y c o n 5s 1 9 3 0
S l i E S id e 1 st 5 s g ’ 35 J -D
U T r a c P it g e n 5 s ’ 9 7 J -J
W e ls b a c li s f 5 s 1 9 3 0 . J -D
B A L T IM O R E
In a c tiv e S to c k s
A t la n t a 6 c C h a r lo t t e .. 1 0 0
A lla n C o a st L (C o n n ) 100
C a n to n C o ...................... 1 0 0
G e o r g ia S o u * F l a . .. 1 0 0
1 s t p r e f ........................ 100
2 d p r e f .......................... 100
G -B S B r e w i n g ............ 1 0 0
M t V e r n o n C o t D u c k ........
U n it E le c L & P p r e f . 50
B onds
A n a c o s t ia * P o t 5 s ............
A t l * C h 1st 7 . . . 1 9 0 7 J-J
A t lC o a s t L ( C t ) c t f s 5 s J -D
C tfs o f iu d e b t 4 s ___ J -J
B a lt C P a s s 1st 5 s ’ l l M -N
B a lt F u n d g 5 s . 1 9 1 6 M -N
E x c h a n g e 8 % s 1 9 3 0 J*J
R e fu n d in g 3 %s 1 9 5 2 J -J
B alt * P 1st 6 s m i l l A -O
1st 6 s t u n n e l .. 1911 J-J
B a lt T r a c 1st 5 s . . ’ 2 9 M -N
N o B a lt D i v 5 s 1 9 4 2 J -D
C o n v e r t ib le 5 s . ’ 0 6 M -N
C e n tr a l R y 6 s . ..1 9 1 2 J -J
C o n s o l o s . . . .1 9 3 2 M -N
E x t * Im p 5 8 .1 9 3 2 M -S
C h a s C ity l i y 1 st 5 s ’ 2 3 J -J

B id
102
69
119
107%
1*28%
123
11 6
108%
108
12 3

A sk
102%
69 %

H ig h e s t

R a n g e to r P r e v io u s
Y ea r (1 9 0 2 )
L o w est

H ig h est

7 4 % S ep
10 7 2 % J a n
62 % J a n
16 118 J a n 12 ,104 J a n 1 2 5 % J ’ ly
23 2 8 % J a n 2 2 3 % D e c 3 4 % A u g
26 4 5 J a n 2 4 0 % D e c 5 5 % A u g
19 1 4% J a n 3 13 ' O c t
17
M ai
ha .Tan 10

S ep

30 26% J a n 5 2 3
27 9*10 J a n *)
6
27 4 0 % J a n 2
33
7 79% F e b 5 65
3 4 5 % J a n 30
29 %
30
4 Jan 6
2%
6
% F eb 6
%
6
%
9i 0 F e b 6
2 7 8 % J a n 6 73 %
28 47 % F e b 10 4 3 %
2
9 J an 8
3%
30 17 % J an 5
8%
13 34i %0 J a n li 2 6 %
21 4411ie F e b 6 4 0
2 4 0 % J a n (5 3 0
3 47 % J a n 8 32
3 116 % J a n 31 1 0 1 %
8 28 Jan 9 24

M ay
D ec
D ec
N ov
N ov
F eb
S ep
S ep
Jan
D ec
Jan
J ’ne
M ar
M ar
J an
Jan
M ay
Jan

10

B A L T IM O R E

1

A pr

29% Sep
36
A pr
80% A p r
7 9 % S ep
38% D ec
5 n i6 O c t
1% 6 F e b
2’ % J*ly
85
Sep
50% A p r
9% Sep
1 8% O c t
o9% 0 S e p
4 5 % S ep
405i6 O c t
48% F e b
1 2 6 M ay
4 0 % S ep

| B id

' A sk

C h a s R y G & E l 5 s ’ 9 9 M -S
9 2 % I 96
C h a ri C 6c A e x t 5 s . ’ 09 J-J | 117
1 1 4 % 118%
2 d 7 s ................. 1910 A -O
C itvcfc S u b 1 st 5 s . . ’ 2 2 J -D 1 1 J % 114
C ity 6 c S u b ( W a s ) l s t 5 s ’ 4S
9 9% 1 0 0 %
i*23% C o l& G r n v 1st 6 s .1 9 1 6 J-J 1 1 6 % 118
1 1 7 % C o u s o l G a s 6 s . . . 1 9 1 0 J -I ) 1 1 0
110%
5 s ......................... 1 9 3 9 J -D
112 1112 *4
1091
4
G a 6c A la 1st c o n 5 s '4 5 J -J 1 1 0 % 111
12 4
G a C a r 6 c X 1 st 5 s g ’ 2 9 J-J 1 0 9 % 1 1 0 %
G e o r g ia P 1st 6 s __ ’ 22 J-J
125
11 0
112
GaSo<fc F la 1st 5 s 1 9 4 5 J -J 1 1 4 % i i 5 %
1 1 0 % 111
52
G - B - S B r e w 3-4 s 1 9 5 1 M -S
52%
1 14
114%
39
39%
2 d in c o m e 5 s 1 951 M -N
64
66
K n o x v T r a c 1 st 5 s ’ 2 8 A - 0 10 3
105
1*21
L a k e l i E l 1st g u o s* 4 2 M -S 1 2 0
M e t S t ( W a s h ) i s t 5 s ’ 2 5 F A 11 8
M t V e r C ot D u c k 1 st 5 s.
' 7 % 78
I n c o m e s .............................
34
34%
1
N e w O rl G a s 1 st 5 s . . V a r
O -u
N p t N<fcO P 1st 5 s ’ 3 8 M -N 10 5
110
98
99"
N o r fo lk s t 1st 5 s * 4 4 ..J -J 1 1 2 % 114
50
.......... N o r t h C en t 4 % s 1 9 2 5 A -O 110
........ ..
98
1 0 3 % 104
6 s 1 9 0 4 ......................... J-J
78
120
S e r ie s A 5 s 1 9 2 6 ___ J-J
1 4 % 15
120
S e r ie s B 5 s 19*26___ J -J
(5
6%
P itt U n T r a c 5 s 1 9 9 7 .J -J 117
38
39
P o to V a l 1st 5s 1 9 4 1 ..J -J 115
ii5 %
S e c A v T ( P i t t s ) 5s *34 J -D 118
. .....
S a v F la A W e s t . ^ 3 4 A -O 114
99% 100
84
84 %
11 3
S e a b o a r d A L 4 s 1 9 5 0 A -O
115
S eah 6 c R o a n 5 s 1 9 2 6 .J-J 112% 115
111%
95
S o u th B o u n d l> t 5 s ..A - O 111
92
86%
86
108
1 0 8 % U E l L A P 1 st 4 % s’ *29 M -N
9 6 % 97
i ‘2 1 % 12*2% U n llvcfe E l 1st 4 s *49 M -S
Iu c o m e 4 s 1 9 4 9 ........ J - D ’
6 8 % : 69
110
110%
Y a M id 1st 6s 1 9 0 6 . . M -S 105 1
114
2 d s e r ie s 6 s 1 9 1 1 .. . M -S j 11 4 |1 14%
117
3d s e r ie s 6s 1 9 1 6 . . M -S 120
115%
4 th s e r 3 -4 -5 s 1 9 2 1 .M -S; 112 :
116% i i 7 % :
5 th s e r ie s 5 s 1 9 2 6 .M -S 11 6 | 1 6 %
1
119% 120
V a (S ta te ) 3 s n e w '3 2 . J-J | 9 4 1 9 5
100%
F u n d d e b t *2-3s 1991 .J-J 1 94% l 95
..........
W e s t N C c o n 6 s 1 9 1 4 J-J 1 11 5 |116%
117
119
W e s V a C P 1st 6g* 11 J-J ’ 111% 112
11 6
W i l 6 c W e ld 5 s ..l9 3 5 .J -J | 12 0 1
105

TH E

374

C H R O N IC L E
lia s Securities

Volume of Business at Stock Exchanges
T R A N S A C T IO N S A T T H E N E W Y O R K STO C K E X C H A N G E
D A IL Y . W E E K L Y A N D Y E A R L Y
S to ck s

W e e k e n d in g
F eb 13
1903

P a r v a lu e

S ha res
3 0 1 ,4 3 9
8 7 1 ,1 1 0
7 5 3 ,9 7 2
4 8 5 ,9 0 7

S a t u r d a y ..............
M o n d a y ................
T u e s d a y ................
W e d n e s d a y ..........

$ 4 ,2 8 4 ,4 0 0
ft, 1 8 8 ,0 0 0
3 ,5 5 0 ,5 0 0
3 ,4 8 5 ,0 0 0

5=29,213,400
8 4 ,6 7 0 ,6 5 0
7 3 .6 8 2 .2 0 0
4 7 .3 7 1 .2 0 0

B onds
$ 7 ,0 0 0
4 ,0 0 0

$ 3 0 ,0 0 0
1 3 .0 0 0
1 0 .0 0 0

1 ,0 0 0

HOLT D A Y

T h ursday............
F r id a y ................

2 ,3 3 5 ,5 0 0

3 ,0 6 0 ,9 7 6 $ 2 9 7 ,5 8 4 ,6 2 5

$ 1 8 ,8 4 3 ,4 0 0

1903

1902

|

$ 1 2 ,0 0 0

$ 6 3 ,0 0 0

J a n u a r y 1 to F e b 1 3

W eek e n d in g F eb 1 3

S a le s at
F e w Y o r k S tock
E xch an ge

” 10,000*

1903

1902

2 2 ,0 0 1 ,1 9 0
2 1 ,7 1 7 ,1 6 1
3 ,4 7 2 ,5 7 3
3 ,0 6 0 ,9 6 7
S t o c k s —N o. sh a res
P a r v a lu e .......... $ 2 9 7 ,5 8 4 ,6 2 5 $ 3 1 9 ,8 9 5 ,1 0 0 $ 2 ,0 8 2 ,5 1 2 ,6 7 5 '$ 2 ,0 4 3 ,2 7 7 ,4 5 0
$59,500|
$ 1 3 ,4 0 0
B a n k sh a res, p a r ..
BONDS
$47,000|
$ 1 2 5 ,8 0 0
$ 1 2 ,000
G o v e rn m e n t bonds
2 1 6 ,5 0 0 !
2 6 2 ,5 0 0
6 3 ,0 0 0
$ 5 6 ,5 0 0
S t a t e bondSw............
1 0 6 ,3 1 6 ,6 0 0
1 3 4 ,8 0 8 ,0 0 0
1 8 ,8 4 3 .4 0 0
2 1 .4 1 2 ,5 0 0
R R . a n d m is. b o n d s
T o ta l b o n d s ___

$ 1 8 ,9 1 8 ,4 0 0

$ 2 1 ,4 6 9 ,0 0 0

$ 1 0 6 ,5 8 0 ,1 0 0

$ 1 3 5 ,1 9 6 ,3 0 0

D A IL Y T R A N S A C T IO N S A T T H E BO STO N A N D P H IL A D E L P H IA
EXCHANGES
W e e k e n d in g
F eb 13
1903

L is te d
sh a r e s

U n listed
sh a res

U n listed
sh ares

7 ,0 7 5
$ 4 4 ,5 0 0
1 2 ,5 5 5
4 7 .5 0 0
2 3 ,0 4 9
5 8 .5 0 0
9 ,9 5 9
1 0 8 .7 0 0
.... H O L I D A Y ....
2 1 ,5 2 2
2 8 5 ,0 0 0
1 7 ,0 2 1

4 5 ,1 7 7

T o t a l ............ 3 2 1 ,4 2 4

L is te d
sh a res

B ond
s a le s

1 0 ,9 5 6
3 3 ,8 8 1
3 2 ,4 8 0
2 9 ,7 7 2

S a t u r d a y ........ 6 2 ,8 5 6
M o n d a y .......... 1 0 1 ,3 5 8
T u e s d a y .......... 6 8 ,3 2 6
4 3 ,7 0 7
W edn esday. .
F r i d a y .............

P h ila d e lp h ia

B o s to n

1 2 8 .6 1 1

$ 5 4 4 ,2 0 0

69,659|

B ond
s a le s

7 ,2 2 7
8 ,3 0 0
3 1 ,5 1 4
7 ,8 8 0

$ 2 9 ,0 0 0
2 0 7 ,4 0 0
2 6 0 .7 0 0
3 0 9 ,2 0 0

1 3 ,9 5 2

7 9 ,0 0 0

4 8 ,8 7 3

$ 8 8 5 ,3 0 0

Outside Securities
A W e e k ly R e v ie w o1 O u tsid e M a r k e t w i l l b e f o u n d o n a p r e c e d i n g p a g e .

S tre e t R a ilw a y s

B id

A sk

NEW YORK CITY

B le e c k St A F u l F s tk 100
H is t m o r t 4 s 1 9 5 0 ..J -J
IT B’ y A 7 th A v e s t k . . 1 0 0
H is t m o r t 5s 1 9 0 4 ..J - D
H 2 d m o r t 5s 1 9 1 4 .. . J - J
, C o n 5s 1 9 4 3 S ee S to c k
B ’ w a v S u r f l s t 5 s g u 1924
2 d 5 s in t a s r e n ta l 1 9 0 5
"fiC en t’ l C r o s s t ’ n s t k . . 1 0 0
H is t M 6s 1 9 2 2 . . . M - X
H C e n P k N A E R s t k . 100
H C h r’ t’ r A 1 0 th St s tk 100
G o lA 9 tli A v e 5 s See S to c k
H D r y D E B & 3 s tk 100
H is t g o ld 5 s 1 9 3 2 ...J - D
H S crip 5 s 1 9 1 4 ___ F -A
-H E ig h th A v e n u e s t . . . 100
H S crip 6s 1 9 1 4 ___ F -A
Hl2d<fe G r S t F ’y s tk .1 0 0
i}4 2 d S t M A S t N A y 1 0 0
JTlst m o r t 6 s 1 9 1 0 .M -S
H2d in c o m e 6s 1 9 1 5 J-J
L e x A v A P a v F 5 s S ee St
M e t r o p o l S e c u r it ie s See
M e t r o p o l S t r e e t R y See
N in t h A v e n u e s t o c k . 1 0 0
S e c o n d A v e n u e sto ck lO O
H is t m o r t 5 s 1 9 0 9 M -N
C o n s o l 5 s 1 9 4 8 ........ F -A
H S ix th A v e n u e s t o c k 1 0 0
S o u B o u le v o s 1 9 4 5 ..J -J
S o F e r 1 s t 5s 1 9 1 9 ...A - O
T h ir d A v e n u e S ee S to c k
T a rry W P A M 5s 1928
Y k e r s S t R R 5 s 1 9 4 6 A -0
T
2 8 tli A 2 9 th S ts 1 st 5 s ’ 96
H T w e n ly -T h ’ d S t s tk 100
D e b 5s 1 9 0 6 ............... J-J
U n io n R v 1 st 5 s 1 9 4 2 F -A
W e s t c lie s t 1 s t 5 s ’ 4 3 J-J

35
100
247
100
107*2
E xch
§112
HOI
265
H 23
210
185
E x c li
110
115
103
405
105
410
70
111
96
k E xc
S tk E
S tk E
190
212
§105*4
§116
175
S ill1
*
§108
E xch
107
109
§113
408
102
118*2
113*4

BROOKLYN

A t la n A v e 5 s 1 9 0 9 ..A -O
C o n 5 s g 1 9 3 1 ..........A -O
I m p t 5s S ee S t o c k E x c
J B B & W E 5 8 1 9 3 3 ..A -O
B r o o k ly n C ity s t o c k . . . 10
C o n 5 s S ee S t o c k E x c h
B k l n C r o s s tn 5 s 1 9 0 8 .J -J
B k n H g t s 1 s t 5s 1 9 4 1 A -O
B k ln Q C o A S u b S ee S tk
B k l y n R a p T r a n S ee S tk
R e f g 4 s 2 0 0 2 ............J-J
H C o n ey Is . A B k ly n .. 1 0 0
H is t 5s 1 9 0 3 ..............J-J
5 s c r t f s i n d b t 1 9 0 3 .. J-J
B r k C A N 5 s 1 9 3 9 .J -J
G r S t A X e w 1 st 5 s ’ 06 F -A
G r ’ p t A L o r i m e r S t 1 s t 6s
K i n g s C o. E le v a t e d —
1 s t 4 s 1 949 S ee S to c k
N a s s a u E le c p r e f ........ 1 0 0
5 s 1 9 4 4 ....................... A -O
1 s t 4 s 1 9 5 1 ............See St
W b ’ g A F la t 1 st e x 4 ^ s .
S t e in w a y 1 s t 6 s 1 9 2 2 . J -J

§104*2
110
h lis t
102
244
lis t
104
105
E x c li
E xch
§ ..........
360
100
100
114
103
105
E xch
83*2
113
k E xc
105
§116

OTHER CITIES

B u ffa lo S tr e e t R y —
1 s t c o n s o l 5 s 1 9 3 1 . . F -A § 1 1 2
D e b 6s 1 9 1 7 ..............A .O § 1 0 6
C h ic a g o C ity R y s t k . 100 2 2 5
C h i c U n io n T r a c S ee S t ’ c k E x c h
C le v e la n d C ity R y ___ 100 100
C le v e la n d E le c t r R y .lO O
84
C o lu m b u s (O ) S t R y . . l 0 0
70
P r e f e r r e d ....................10 0 1 0 2 3
4
C o lu m R y c o n 5 s See P h ila list
C r o s s t ’ w n 1st 5 s ’ 3 3 .J -D !§ ........
D e t r o it U n ite d B y See S tk E x c h

37
101
251
100%
109
list
114
L01*2
275
126
215
190
lis t
120
117
104
415
109
415
75
112
100
list
x lis t
X lis t
205
217
106
118
180
112*2
110
list
109
110
114*2
415
106
119
114*2

S tr e e t R a ilw a y s
G ra n d R a p id s R y ___ 1 0 0
P r e f e r r e d ....................1 0 0
I n d ia n a p o lis S t R y S ee
J C H o b A P a t e r 8 o n ..l 0 0
4 s g N o v 1 1 9 4 9 ...M - N
L a k e S t (C h ic ) E l s t k .1 0 0
1 s t 5 s 1 9 2 8 ..................J -J
H L o u is v S t 5s 1 9 3 0 .. J & J
L y n n A B o s 1 s t 5 s ’ 2 4 . J -D
M in n e a p S t R y 5 s S ee S tk
N e w O r l R y s C o .......... 1 0 0
P r e f e r r e d ....................1 0 0
4*2S 1 9 5 2 ..................... J -J
N o r t h C h ic S tr s t o c k . 100
1 s t 5 s 1 9 0 9 ................J-J
N o r t h J e r s e y S t s to ck lO O
4 s 1 9 4 8 ..................... M -N
P a t R y c o n 6 s 1 9 3 1 ..J -D
2 d 6s 1 9 1 4 ................. A -O
R o c h e s t e r R y ................100
P r e f e r r e d ............... 1 0 0
C o n 5 s 1 9 3 0 S ee P h ila
2 d 5 s 1 9 3 3 ..................J -D
S o S id e E l (C h ic ) s t k .1 0 0
S y ra cu se R ap T r 5s 1946
T o le d o R y s A L i g h t S ee
U n it R y s (S t L T r a n s ) 1 0 0
P r e f e r r e d ....................10 0
G e n 4 s 1 9 3 4 ............... J-J
U n i t R y s S a n F r a n 8’e^Stk
H W e st C h ic a g o S t ___ 1 0 0
H Con g 5 s 1 9 3 6 ___ M -N

A sk
60
97*2
list
20
77*2
7%
101
118
114
list
15
50
80
170

§ ..........
26
28
80
82
§1 2 5
130
§100
73
99% 100*4
li s t
§105*2 108
110
102
105
S tk E x lis t
28*4 2 9
81
82*2
§ 84*2 85
E x c h list
84
§ 95
90*4

O a s S e cu ritie s
NEW YORK

C e n t U n io n G a s 1 s t 5 s . . .
C o n G a s ( N Y ) s t k . S ee S t
E q u it G a s c o n 5s 1 9 3 2 See
H M u tu a l G a s ................100
N e w A m s te r d a m G a s —
1 st c o n s o l 5 s 1 9 4 8 .-J -J
105*2 N Y G E L H A P S ee S to c k
112
N Y & E a st R iv e r G a s —
1 s t 5s 1 9 4 4 ..................J-J
104
C o n s o l 5s 1 9 4 5 ..........J -J
245
N o r U n 1 s t 5 s 1 9 2 7 .M -N
H S tan dard G a s c o m ..1 0 0
107
H P ref e r r e d ................1 0 0
108
i s t 5 s 1 9 3 0 ..............M -N
list
list
OTHER CITIES
85
400
A m e r L ig h t A T r a c t . 1 0 0
P r e f e r r e d ....................1 0 0
100*2 B a ltim o r e C o n s o lid a t S ee
116
B a y S ta te G a s ................50
. . . . . . B in g h a m to n G a s 5 s 1 9 3 8
107
B o s to n U n it e d G a s b o n d s
B u ffa lo C ity G a s sto ck lO O
list
1 s t 5 s 1 9 4 7 ..............A -O
85
C h ic a g o G a s S ee N Y S tk
115
C in c in n a ti G a s A E le clO O
li lis t C o l G a s L A H e a t com lO O
106
P r e f e r r e d ....................10 0
119
C o n s o l G a s ( N J ) s t k .1 0 0
1 s t 5 s 1 9 3 6 ..................J -J
C o n s u m G a s (J C it y )—
1 st 6s 1 9 0 4 ..............M -N
113*2 H D e tro it C ity G a s . . .. 5 0
E sse x A H u d son G as 100
F o r t W a y n e 6s 1 9 2 5 .. J -J
lis t
HGas A E l B e r g e n C o 100
108
G r a n d R a p id s G a s —
H is t 5 s 1 9 1 5 ............F -A
87*2
75
H a r tfo r d (C t) G a s L . . . 2 5
H u d s o n C o G a s ............ 100
104
5 s g 1 9 4 9 ..................M -N
In d ia n a N a t A 111 G a s —
111
1 s t 6 s 1 9 0 8 ..............M -N
lis t

§ B u y er p a y s a ccru ed in terest.

B id
66
95
P h ila
19
76
7%
§ 99
§115
§112
E xch
14%
40
§ 78*2

1 P r ic e p er share.

§109
k E xc
S tk E
310

111
li lis t
x lis t
330

§109*4 110
E x c h list
§112
§109
§105
130
150
§115*2

114
112
108
140
160
118

47
94
B a lt
34
§ 95
B o s to
93
4
82
E xch
99%
106
106*4
17

50
96
list
7s
97
u list
11
83
list
100
108
107

90

93

§1 0 2
f ..........
35
55

86
37

§103
t 50
40
§104

X Sale p rice .

105

55
41
104*4
49

I n d u s t r ia l a n d M i s c e l
R id
A sk
C o n t in e n t a l T o b a c d e b 7s 103
L05
C r a m p s ’ S h A E n B ld glO O
40
45
H C ru cib le S t e e l............10 0
2 0 % 2 0 7s
104
If P r e fe r r e d ..................100
8 5 % 85*2
15
D is t ille r s ’ S e c u r it .S ee St It E x c 1 li s t
101*2 D o m in io n S e c u r it ie s . 100
15
25
93
E le c t r i c B o a t ................1 00
20
23
105
P r e f e r r e d ................... 1 00
30
40
60
E le c t r i c L e a d R e d u c ’ n .5 0
2%
3*4
50
P r e f e r r e d ...................... 50
3*2
4*2
§107
109*2 E le c t r i c V e h i c l e .......... 10 0
7
7*4
§ 140 *2 141 *2! P r e f e r r e d .................... 10 0
12
13
71*2 72*2 E le c t r o -P n e u m ’ i c T r a n lO f
3*
%
list
E m p ire S t e e l.................100
16*2 17
20
47
P r e f e r r e d .................... 100
47*4
49
H G en cra l C h e m ica l ..1 0 0
63 *2 06
1112
If P r e f e r r e d .................. 10 0 100*4 101*2
95
97
G o ld H ill C o p x ie r ..........10
56
%
92
94
G orh a m M fg C o c o m . 100 128*2
100
P r e f e r r e d .................... 100 128*2
36
38
G r e e n e C o n s o l C o p p e r. 10 t 22
22*4
88
89
160
G u g g e n h e im E x p l o r a t i’ n 150
18
19
H a c k e n s a c k M e a d o w s lO O
T e l e g r &; T e l e p h o n e
120
130
H a ll S ig n a l C o ............ 1 00
z S434 89
15
20
H a v a n a C o m m e r c ia l.1 0 0
100
lu 4
60
P r e f e r r e d .................... 10 0
62
100
103
54
H a v a n a T o b a c c o C o .. 100
54*4
45
48
P r e f e r r e d ..................... 100
64*2 65
104*2 105
H e c k e r -J o n e s -J e w ’ l M ill
5 s 1 9 0 9 -2 9 ................... J-J
165
171
99
101
1st 6s 1 9 2 2 ................ M -S
^ C o m m e r c ia l C a b le ..
115
1
3
H e rrin g -H a ll-M a r v in lO O
79
82
25
35
1 s t p r e fe r r e d .............. 100
47
53
4
10
2 d p r e fe r r e d .............. 10 0
120
123
H o b o k e n L a n d A Im plO O 105
. • • • •«
106
If 5 s 1 9 1 0 .................... M -N 102
H4*2S, 1 9 0 5
100
104
H o u s to n O i l .................. 1 0 0
7*2 10
C34
30
6%
60
P r e f e r r e d .................... 100
125
105
120
^ N o r t h w e s te r n T e le g .
H u d s o n R e a lt y ...................
165
167
112
I n t e r b o r o l i T ( f u ll p a id ) 111
X Y A N J T e le p h o .
112
5 0 % p a i d ........................... 112
lJ5s 1 9 2 0 ....................M -N i 109
113*2
78
85
205
I n te r n a t’ l B a n k i n g C o l 00 20 0
1 116
125
1 4 34 15*4
I n t ’ n ’ l M e r c M a r i n e .100
97
102
40
40 3
4
P r e f e r r e d .................... 10 0
7
t ..........
100
C o l t r d e b 4 * 2 l9 2 2 o p ’ o7
10
11
I n t e r n a t io n a l S a lt ___ 100
Electric Companies
45
49
1 st g 5 s 1 9 5 1 .....................
160
162
10
C h ic a g o E d is o n C o ... l <
24
If I n t e r n a t io n a l S ilv e r 100
E d is o n E l 111 B r k 4 s N Y S to c k E x ch
IfP r e f e r r e d ...................100
210
93
100
1 s t 6 s 1 9 4 8 .................. J -D
223
180
J o h n B S te ts o n c o m . . 100 150
t]0 5
109
170
P r e f e r r e d .................... 10 0 150
40
44
7%
8*8
K it c h e n e r G o ld M in ’ glO O
77
80
L a n s to n M o n o t y p e ___ 20 t 1 0 % 1 1 %
12 3
L a w y e r s M o r t I n s u r .1 0 0 190
1 6 34 17*4 L a w y e r s ’ T it le I n s . ..1 0 0 365
375
135
66*4 67
H L orilla rd (P ) p r e f . . . 1 0 0 125
10
20
M a d iso n Sq G a r d e n ..1 0 0
F e r r y C o m p a n ie s
60
2 d 6s 1 9 1 9 .................M -N
10
13
M a n h a tta n T r a n s it ___ 20
B r o o k ly n F e r r y s t o c k lC
3 34
3%
110
113
6
7
M e x N a t C o n s t r u e , p f 100
B A N Y 1 s t 6s 1 9 1 1 . JE x c h list
C o n 5s 1 9 4 8 S ee S to c
M o n o n g a lie la R C o a l..5 0 f 1 1 34 11 78
80
85
N Y & E R F e r r y s t k .lC
P r e f e r r e d ....................... 50 t 3 9 34 39 %
§ 92
94
M o s le r S a fe C o ............ 100
1 s t 5 s 1 9 2 2 ..............M -:
102*2
98
N a t io n a l B r e a d ............ 100
N Y A H o b o k e n s t k .lC
P r e f e r r e d .................... 10 0
H o b F y 1 st 5 s 1 9 4 6 M -: §109*2 n o
1 04
105
C o n 5s 1 9 4 6 ........... J26
27
N a t io n a l C a r b o n .......... 10 0
1 04
108
99
P r e f e r r e d .................... 100
65
70
N a t E n a m ’ g A S ta m p 10 0
36*2 37
§1 0 5
100
90
P r e f e r r e d .................... 1 0 0
94
l s t m o r t 5 s 1 9 1 9 ..
140
41*2 42
N a t io n a l S u r e t y ..........10 0
95
97
4
N e w B r u n s C a n n e lC o a l 10 t ..........
IfN e w C e n tr a l C o a l ___ 2 0
48
53
R a ilro a d
15
17
N e w E n g C o n s o l I c e . 100
93*2
N e w E n g T r a n s p o r .,1 0 0
%
%
6
10
N Y B is c u it 6s 1 9 1 1 .M -S 113
116
§106
108
130
N Y M t g e A S e c u r it y . 100 127
95
100
IfN e w Y^ork D o c k . . . . 1 0 0
22
25
27*2 31*2
*[fP r e f e r r e d .................100
In co m e 5s 1930.
113*2 113% N Y T r a n s p o r t a t i o n . ..2 0 t 10*4 11
N orth ern S e c u n ti
) t 35
P it t s B e s s A L E
36*2 N ic h o ls o n F ile C o ___ 1 00
155*2
t 74
80
P r e f e r r e d ............
9
10
N o r A m L u m ’ r A P u lp lO O
)
30
40
H O n tario S i l v e r .......... 100
6*4
2 S tk E X lis t O tis E le v a t o r c o m ___ 100
42
42*2
P r e f e r r e d .................... 100
97*2 98
In d u strial and M isce l
P it t s b u r g B r e w i n g ___ 50 tz 3 1 * g 31*2
99
102
P r e f e r r e d ....................... 50 f #46*4
A c k e r M e r A C o n d it ..
105
115
A llia n c e R e a lt y .......... 1
P it t s b u r g C o a l.............. 1 00
28*2 2 8 %
1 7 % 18
P r e f e r r e d .................... 1 0 0
IfA llis -C h a lm e r s ..........]
91*2 9 1 %
86
87
P it t s P la te G la s s ........ 10 0 1 3 9 34 141
t 58
61
P r a t t A W h it n p r e f . . 1 0 0
99
....• •
)
53*4 53*2 P r o c t e r A G a m b le ___ 10 0 3 4 0
345
9 % 10
P r e f e r r e d .................... 10 0 2 04
20 5
)
4 7 34 48*2 R e a lt y A s s o c (B k ly n )lO O 117
123
) 118
122
R o y a l B a k P o w d p r e f .10 0 103*2 104*2
90
91
63
R u s s e ll A E r w i n ..........25 t 61
1
*2
A m e r ic a n E le v a te d .
S a fe ty C ar H e a t A L t 10 0 165
168
t
4%
5*4 S e m in o le M i n i n g ___
)t
9
9*4 S im m o n s H a r d w c o m 100 155*2
)
90
P r e f e r r e d .................... 10 0 138
53
)
51
145
2d p r e fe r r e d ...............100 139
) 102
104
P r e f e r r e d .................
340
S in g e r M fg C o ...............100 3 1 0
6
)
3
9
A m S od a F o u n c o m .
S ta n d a rd M il li n g C o . 10 0
8
)
65
75
32
P r e f e r r e d .................... 1 00
29
5s
22
)
18
76
78*2
) 175
180
739
S ta n d a rd O il o f N J .. 1 0 0 7 3 0
)
46
48
32
35
S ta n d a rd C o u p le r c o m lO O
99
102
135
P r e f e r r e d .................... 10 0 128
) 300
A m e r T o b a c c o c o m ..,
S to r a g e P o w e r .................50
%
34
) 141
146
jf P r e fe r r e d .................
S w ift A C o S ee B o s t o n S t k E x c h ’ g e
)
42
45
103
1 st 5s 1 9 1 0 -1 9 1 4 ... . J - J §102
)
98
102
P r e fe r r e d
T e n n e s s e e C o p p e r ........ 25 t 29
29*2
)
5
.m er W r it ii
5*2 H T ex a s A P a c ific C oal 1 0 0
75
80 ,
P r e fe r r e d
n o
)
24*2 2 4 34
1 s t 6s 1 9 0 8 ................ A -O § 1 0 6
76
53 0
5 s 1 9 1 9 ...
77*2 T it le G u a r A T r (n ew )lO O 52 0
160
)
23*2 2 6
T it le I n s C o o f X Y . . 1 0 0 157
) 132*2 134*2 T r e n t o n P o t t e r ie s com lO O
23
25
) 145
P r e fe r r e d n e w .......... 100
94
96
B lis s C o m p a n y c o m . .
) 140
145
P r e f e r r e d ...................
70
75
T r o w D ir e c t o r y n e w . . 100
) 375
390
U n io n C o p p e r .................. 10 t
3*g
3%
) 125
U n io n S w it c h & S ig n a l 50 t 85
- • • •••
j n o
114
P r e f e r r e d .......................50 1 .......... 105
S to c k E x c h U n io n T y p e w r c o m . . 10 0 127
130
B r it C o lu m C op
1 s t p r e fe r r e d .............. 100 123
128
it
*8
%
>
) 120
124
2d p r e fe r r e d .............. 10 0 123
128
j
20
U S C o tto n D u c k ........ 1 00
24
10
6
)
62
20
66
10
U S E n v e lo p e c o m . . . 100
73
68
H P r e fe r r e d ...................100
)
3*4
3*2
1
17
P r e fe r r e d
17*2 HU S R e d A R e f i n i n g . 100 X.......... 35*4
) 44 0
^ P r e f e r r e d .................. 1 00 I . . : —
46 0
55
)
95
100
20
HU S S h i p b u i l d i n g . . . 1 0 0
5
)
94
H P re f e r r e d ...................lo O
98
10
50
)
92
96
B o n d s — S ee S to c k E x c h l i s t
)
60
100
65
U S S ilv e r C o r p 6s (w i)
98
70
95
U S S te e l C orp 5 s (w li iss )
1 s t g 5 s 1 9 1 7 ..........
93
C om p ressed A ir C o.
)
2%
115
C o lt r 5s S e r B A D 1 951 112
2%
)
65
2
75
U n iv e r s a l T o b a c c o . . . 100
1
20
8
15
30
P r e f e r r e d .................... 100
)
60
39
If P r e fe r r e d .
65
37
H V a I r C oal c C o k e . . 100
5*4
H i s t 5 s 1 9 4 9 — S ee S to c k E x c h lis t
S *2
2
V u lc a n D e t in n in g . See S t k E x c h lis t
)
1
5
10
W e s tin g li A i r B r a k e . .50 t ............ 174
D e b e n tu re 4s.
12*4
)
15
20
W h it e K n o b M in in g . 100
m
) 280
W o r t h in g P u m p p r e f. 100 12 0
125 f
30 0
35
R ig h t s

I n d ia n a p o lis G a s s t o c k 50
1 s t 6 s 1 9 2 0 ..............M -N
J a c k s o n G a s C o .......... 50
5s g 1 9 3 7 .................... A -O
K a n sa s C ity G a s ..........100
If 5 s 1 9 2 2 ...................... A -O
If L a c le d e G a s ................ 100
If P r e fe r r e d ................ 10 0
L a fa y ’ e G a s ls t 6s*24. M -N
L o g & W a b V 1 st 6 s ’ 2 5 .J -D
M a d iso n G a s 6s 1 9 2 6 . A -O
N e w a r k G a s 6 s 1 9 4 4 .Q-J
N e w a r k C o n s o l G a s .. 100
5 e 1 9 4 8 See S t o c k E x c h
HO A I n d C N a t A 111 .1 0 0
1st 6 s 1 9 2 6 ................ J -I)
P r o v id e n c e G a s .............. 50
S t J o s e p h G a s 5 s 1 9 3 7 . J-J
S t P a u l G as G e n 5 s ’ 4 4 M -S
S y r a c u s e G a s 5 s 1 9 4 6 .J-J
U n ite d G a s A E le c , N J 100
P r e f e r r e d .................... 1 0 0

a E x rig h ts.

R id
58
104
81
§102
12
§ 100*2
91*2
95
50

A sk
67
105

00
Ci

6 2 ,6 4 7 ,1 7 5

6 4 8 ,5 4 8

T o ta l

us

S ta te
B onds

R a ilr o a d A c
B onds

[ V ol. L X X V L

H S ells on S tock E x ch a n g e , b u t n o t a v e ry a c tiv e s e cu rity .

THE

F e b r u a r y 14, 1903.]

CHRONICLE

a n d R a ilr o a d
R A I L R O A D

375
% u tz llx % z m z <

E A R N I N G S .

The following table shows the gross earnings of every S tea m railroad from which regular weekly or m onthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last tw o
columns the earnings for the period from J u l y I to and including such latest week or month.

The returns o f the street railw ays are brought together separately on a subsequent page.
Latest Gross E arnings

ROADS

Week
or M onth

Current
Year

Previous
Year

Latest Gross E arnings

J u l y 1 to L atest D ate.

Current
Year

Previou s
Year

|

ROADS

Week
or M onth

$
$
$
%
15,321
12,887
2 02,216
A d ir o n d a c k .. . . T u n c .......
1 90,628 j tM exican R y ....... W k.Jan 24
3d w k Jan.
1,478,353 1 ,3 9 3 ,4 6 8 1 M exican South'!- 3d w k Jan.
A la G t S outhern.
46,763
47,106
i M ilieu A S o’ w ’ n. D ecem b er
A la N O & Texas Pacific.
184,642 1 ,322,139 1,1 9 0 ,5 5 7 ! M ineral R a n g e .. 4th wkJan
213,046
N O A N o E ast. J a n u a ry ..
97,151
6 72,732
A la A V ick sb'g Ja n u a ry ..
106,135
6 2 7 ,4 4 6 M inneap A St L. 1st tvk Feb
115,469 1 02,243
7 4 3 .5 6 8
6 19,012 M Ht P A H St M . i s t w k Feb
V ick sb Sh A P J a n u a ry ..
In c. 190,912
A lleg h en y V alley N ovem ber.
In c. 40,878
Mo Kan A T exas 1 st w k F eb
33,307
A nn A r b o r ........... 1st w k Feb
29,553 1,156,743 1 ,146,372 Mo P a c A Iron Mi 1st w k Feb
43,653
D ecem ber
5,137
5,681
43.401
A n n W ash A Bal.
C entral B ranch I s t w k Feb
A tch T op & S F e . D ecem b er. 5,5 3 9 ,8 6 6 5 ,328,952 31,695,051 3 0 ,876,256
T o ta l................ 1st w k Feb
282,401
273,771 1,079,978
A tla n ta A C har.. O c t o b e r ...
9 95,528 M ob J a ck A K C. W k J a n . 31
58,263
4 04,617
A tl K n o x v A No J a n u a r y ...
5 4 ,6 8 0
366,651 M obile A O h io..* Si n u a ry.
11.873
116,783
21,005
60,631 Nash Ch A St La. 1st w k Feb
A tla n tic A Birin D ecem ber.
A tl C oast B in e .. D ecem ber. 11563,803 J1467024 <8,952,137 17,784,011 N at’ l R R o f M ex 1st wk Feb
A tl Vald & West. T u n e .......
21,384
2 69,977
19,325
23 5 ,0 4 5 N ev-C al-O regon D ecem b er
59,788
B a lt < A nn S L».. D ecem b er.
fe
10,229
8,077
54,913 Ne vada C e n tra l.. D ecem b er.
B a lt A O h io -----> D ecem b er 4 ,923,035 4 ,590,024 3 1 ,647,157
2 9 ,4 9 9 ,7 6 6 N Y C A H u d Riv J a n u a ry ..
B A O S ou th w . <
N Y O ut A W est. Decern ber.
124,992
8 65,305
B a n g or A A roosl D ecem ber.
1 21,929
815,018 N Y Susq A West Dec( m ber.
20,011
B ath & H am m oi Decem ber.
22,614 N orfolk A W est'n 1st wk Feb
2,673
3,038
B ell. Z a n es& C in . D ecem b er
16,876
102,951
15,800
9 3 ,6 2 3 N orthern Central D e ce m b e
29,913
4,639
B eU efon te C ent’ ] D ecem ber
4,80*
29,508 North*n P a cific.. J a n u a ry ..
25,803
B rid g t A Saco R. D ecem b er
3,465
2 2 ,9 5 4 N or S h ore tOal)... Dec em ber.
2,651
B u ll A ttic a & Art S ep tem ber
6,941
6,810 P a cific C oast Co S ep tem b er
B uff R o ch A Pitts l8o w k Feb
122,619
88,082 4 ,4 0 6 ,0 1 5 3 ,9 2 7 ,2 4 6 P enn —EastPAE* D ecem b er
50 5 ,3 8 4
86.750
69,030
B uffalo A S u s q . .. D ecem b er
4 3 3 ,0 8 5
W est P A E .§... D ecem ber.
B u rl O R ap & No M a y .......
3 9 9 ,7 0 0 39 9 ,7 7 2 4,959,604 4 ,5 5 9 ,0 0 3 Pere M a rq u e tte .. 1 st w k Feb
201,700 129,918
C anadian N or h . D ecem ber.
P hila.B alt. A Wa. D ecem ber.
C anadian Pacilit 1st wk Feb 705 ,0 0 0 55 1 ,0 0 0 26 ,3 6 6 ,9 0 3 23,070,341 Phil a A E r ie ....... D ecem ber.
22,355
124,915
C ane B e lt ........... D ecem ber
18,887
90,405 Pine B lf. A rk. R ... N ovem ber.
C ent’ l o f Georgia 1st w k Feb 208,180
168,380 5,700,282 4,9 8 7 ,8 2 2 P ittsb C C A St I. D ecem ber.
C ent’ l oi’ N Jersey D ecem ber 1,629,724 1,209,773 7 ,6 7 4 ,8 2 4 8,6 8 9 ,8 8 1 Plant S y stem — |
C entral P a cific. N ovem ber. 1,935, -Jl7 1,706,395 9 ,791,024 9,4 0 0 ,0 3 5
A la M id la n d .
3,465
71,341
Chattan S outh’ n. 4th w k Jan
2,056
54,956
B ru n s A W ’ n. [ J u n e .........
C hesap & O h io .. 1st w k F eb 316,801 3 06,313 9 ,448,602 10,125,806
Chas A S a v . ..
848,778 761,092 5 ,186,855 4 ,9 0 3 ,1 2 5
C hic A A lto n B y . D ecem ber.
Sav F la A W .
C hic B u rl & Quin D ecem ber. 5,249,621 4 ,256,924 3 1 ,9 4 8 ,0 1 4 2 8 ,480,588
S ilS O c A G . .
198,322 4,4 0 7 ,5 2 9 3,7 2 6 ,7 0 8 R eading C o .—
246,259
C hic & E Illin ois. 4tli w k J a n
C hic G t W estern 1st wk Feb 136,933 1 15,969 4,712,681 4 ,7 4 3 ,1 7 2
Phil A R e a d ----- D ecem b er.
84,260
Chic In d A L ’ v . .. 1st w k Feb
63 ,3 7 0 2,994,31.4 2 ,7 6 0 ,0 7 5
C oal A Ir C o ___ D ecem ber.
Chio M ilw A St I D ecem ber. 3,903,803 3 ,9 9 1 ,2 5 4 2 5 ,177,967 24 ,3 8 6 ,2 5 0
T o t b o th C o’ s .. D ecem ber.
Chic A N orth W 'n D ecem ber. 3,787,991 3,6 1 8 ,7 7 3 25 ,5 1 1 ,0 2 8 2 4 ,6 7 1 ,0 0 1 R ich F r'k sb A P . N ovem ber.
Chic P eo A St L .. A u g u s t ...
133.929
2 66,242
123,975
2 3 2 ,7 0 7 R io G ra n d e J e t .. N ovem ber.
Chic R I A P a c ... Decernb er. 03 9 7 6 7 9 0
024298887
R io G ra n d e S o ... 1st wk Feb
C hic St P M A O . D ecem ber. 9 7 2 ,7 4 0 98 0 ,2 5 9 6 ,502,321 6 ,3 7 1 ,9 0 4 Rio G r’ d e W e s t .. J u n e .........
31,855
C hic T erm T r RR 1st wk Feb
1,052,430
31,226
9 7 2 ,1 9 3 R u tla n d ............... 1st w k D ec
Oin N O A T P a c 3d w k Jan. 101,229
99,209 3 ,2 0 7 ,4 2 4 3 ,0 4 2 ,4 5 0 St J o s A G r I ....... D ecem b er.
Cl Cln Ch A St L 1st w k Feb 326,227
30 7 ,4 2 6 12,136,72Ci►11,740,627 St L ouis A G u lf.. A u g u s t___
P eoria A E ast’ n 1st w k Feb
49,921
41 ,6 8 0 1,706,752 1 ,567,799 S t L A N A r k ....... O c t o b e r ...
C olorad o A South 4th w kJan
138,869 1 26,028 3,657,427 3 ,2 6 9 ,6 6 9 St L A San F ran # 3 d w k Jan.
C ol N ew b A L au. O eoem ber.
15,907
93,601
86 ,5 9 0 St L S o u th w e s t.. 1 st w k F eb
14,567
Col Sand A H ock 3d wk O ct.
32,418
509,531
25,913
4 08,538 S t L Van A T I I .. J a n u a ry ...
C opp er R a n g e.... D ecem ber.
26,377
182,382
13,731
8 7 ,1 4 0 San A n t A A P .. . D ecem b er.
7,660
33,631
C o rn w a ll............. O c t o b e r ..
11,282
43,196 San F ran & N P . . J a n u a r y ..
C orn w all A L e b .. Deceraner.
16,966
1 27,630
1 85,784 Sav F la A W e st.. J u n e ........
22,915
C um berl’ d V alle j D ecem b er. 162,227
117,157
7 17,001
6 3 6 ,1 2 4 S ea b oa rd A ir L .. 4tli w k Jan
D en v. & R io Gr.
So C A G a E x t . . . M a y .........
R io G r. W est. J 1st w k F eb 279 ,9 0 0 27 2 ,1 0 0 10,901,998 10,760,726 So H a v e n A E ast. O c t o b e r ...
t.
44,565
D etroit Southern. 4th w kJan
33,884
827,784
7 5 1 ,6 6 7 S outhern I n d ___ J a n u a r y ...
78 ,2 3 6
61,942
D et & M a ck in a c. D ecem ber.
4 2 5 ,7 6 0
3 9 3 ,2 5 3 So P a cific C o b ... D ecem ber.
67,142 1,628,202 1,572,597
Dul So Sh A A t l.. 4th w kJan
7 8 ,8 3 4
C arson A Colo. N ovem ber.
3,867,873 3 ,105,172 2 2 ,087,348 2 1 ,3 2 2 ,5 4 5
E r ie ........................ D ecem ber.
C entral Pacific N ovem ber.
2 1 1 .0 6 0
E va n sv A Indian 1st w k Feb
6,560
6 ,1 1 0
2 49,219
D ir e c t N a v . Co. N ovem ber.
22,612 1,052,056
E va n sv A T H . . . 1st w k Feb
27,156
9 0 4 ,1 6 3
G al H a r A S A . N ovem ber.
F 'rcliild A N ’r ’ e’ n D ecem ber.
2,811
17,199
2 ,9 0 0
20,312
G al H ou s A N o N ovem ber.
F arm v A P ow hat D ecem ber.
6,320
6,191
39,391
36,216
G u lfW . T. A P. N ovem ber.
F t W A D en v City N ovem ber.
2 21,213 1,146,117
223,593
93 5 ,1 7 3
H ou s. E. A W .T N ovem ber.
202,547
181,782 1,183,824 1 ,018,644
G eorgia R R ......... D ecem ber.
H ou s. A Shrev. N ovem ber.
G a S o u th A F la .. D ecem ber.
145,687
109,957
769,914
63 3 ,2 3 2
H ou s A T e x Ceu N ovem ber.
26,945
148,464
G ila V al G A N .. D ecem ber.
32,489
185,376
Ib e ria A Verm . N ovem ber.
G r T runk System 1st w k Feb
582,312 426,162 19,911,454 17,983.322
L o u is'a W e s t... N ovem ber.
G r T r . W est’ u 3d w k Jan.
104,099
89 ,1 2 0 2 ,695,855 2 ,424.321
M org a n ’ s L A T N ovem ber.
D e t G r H A M . 3d w k Jan
22,873
30,893
70 1 ,5 5 3
6 8 9 ,1 7 9
N. M ex. A A riz.. N ovem ber.
G reat N orth ’ n —
N Y T A M ex .. N ovem ber.
St P M inn A M )
O regon A Calif. N ovem ber.
J a n u a r y ... 2,538,326 2,406,948 25,313,525 22 ,1 0 9 ,3 2 3
East, o f M inn $
S on ora R y ........ N ovem ber
M on tan a C en t’l J a n u a r y ...
190,110 128,192 1 ,217,236
9 8 5 ,7 3 3
So P a c. C oast... N ovem ber.
T ota l system J a n u a r y .. 2,7 2 8 .4 3 6 2 ,5 3 5 .1 4 0 2 6 ,5 3 0 , 1 61 23 .0 9 5 ,0 5 6
So P a c R R Co.. N ovem b er
G u lf& S h ip Islan d D ecem b er. 137,792 1 14,616
8 43.869
66 7 ,7 3 9
So P a cS S L ines N ovem ber.
H ock in g V a lley . 1st w k F eb
87,491 » / 9 ,4 7 o 3 ,4 9 3 ,7 3 6 3,1S5,189|
T e x A N O rl....... N ovem ber.
H ous A T e x Cent N ovem ber
488,121
4 9 9 ,4 0 5 2 ,416,518 2 ,126,77 2 S outhern R a ilw ’ j 1st w k F eb
Illin ois C en tra l.. J a n u a ry .. 3 ,759,183 3 ,4 9 3 .5 5 4 2 5 ,81U, 108 24,128.584| T erre H A In d . . . J a n u a ry ...
Illin ois Southern J a n u a ry ..
11,574
81,340, T erre H A P e o r .. J a n u a r y ...
10,650
91,853
Ind. 111. A Iow a D ecem ber
85 1 ,5 7 2
161,420 1 38,226
848,764! T e x a s C entral . . . 4 th wkJan
lilt A G t N orth ’ n 1st w k Fob
82,021
71 ,6 7 9 9 ,4 7 4 ,7 7 0 3 ,288,377 1 T e x a s A P a c ific .. I s tw lc Feb
In te ro c (M e x )___ W k Jan. 24
94,600
7 9 .0 5 0 2 ,7 8 5 ,2 3 0 2 .2 2 7 ,6 9 5 , T e x S V A N W .. J anuary.
Io w a C entral
1st w k F eb
41,676
4.8,471 1,508,333 1 ,5 6 7 ,9 5 0 T if ton T hom . A G. N ovem ber.
8,755
J a n u a r y ..
49,836
46,731 T o ! A O hio C e n t . 1st w k Feb
7 ,1 2 5
1st w k Feb
23,451
17,667
6 51,676 T o l P A W e s t ___ 1st w k F eb
6 3 3 ,2 5 6
1st w k Feb 1 2 4 ,3 6 5 1 05,002 3 ,852,867 3 ,4 1 7 ,8 0 0 T ol S t L A W ........ 1st w k Feb
Lehigh Val R R . D ecem ber 2,473,000 1,839,410 11 ,2 2 4 ,8 8 9 13,884,217 T o r H am A B u f f. 4th wkJan
D ecem b er.
Un. P a c. p ro p e r 4 th wkJan
D ecem b er.
43,733
276,531
28 ,6 9 0
197,164 U nion P a c R R . )
L ong isla n d . . . . D ecem ber.
In c . 46 ,991
In c. 240 ,751
O reg R R A N [ D ecem ber.
La. A A rkan sas. S ep tem ber
121,702
3 8,744
43,963
1 0 8 ,4 5 7 1 G reg Sh L in e. }
Novem ber.
65.084
5 7,456
3 43,516
3 0 3 ,5 2 6 W a b a s h ................. le t wk Feb
1st w k Feb 68 6 ,3 9 5 5 6 6 ,8 7 5 2 1 ,1 9 4 ,0 4 0 18,463,058 W J ersey A S ea’e D ecem ber.
91 ,7 2 4
Jan u a ry..
11,509
7 6 ,9 7 0 1 W heel A L E . . .
12,509
1st w k Feb
9.610
N ovem ber.
53,553
9,895
55,318 W ich ita V alley.
A u g u s t ...
N ovem ber.
136,574
133,7411 W m’ sp ort A N.Br. N ovem ber.
21,909
21,900
M a n istiq u e ........
5 9,263
5,960
9,167
4 3 ,7 9 6 W isconsin C e n t.. I s t w k Feb
M ary I’ d A Penn. D ecem ber.
. . . . . . . . . . ! W righ tsv A T ’n .. D ecem ber.
20,075
19,131
... ......
{M ex ica n Centra l st wk F eb 4 5 6 ,1 2 3 363 ,1 1 6 13,257,061 10,586,782 Y a zo o A M iss. V. J a n u a r y ...
M exican I utern’i D ecem ber.
689,947
547,038 3 ,4 3 2 ,4 4 7 j 3 .0 3 0 ,6 8 6

J u l y 1 to Latest Date .

Current
Year

Previous
Year

Current
Year

P reviou s
Y ear

$
100 ,100
20 ,210
4,141
16,404
4 7 ,8 3 0
106,811
303,147
616 ,000
18,000
634 ,000
5,735
6 5 3 ,056
188,990
191,721
13,735
3 ,230
6,239,441
600,163
2 5 4 ,136
364 ,980
803 ,940
3,2 7 6 ,776
30,952
500 ,090
9 ,5 2 9 ,3 7 5
I n c . 61
189.094
1,066,303
587,573
3 ,9 8 0
1,951,733

£
97 ,8 0 0
14,300
3,848
13,637
50,699
86,137
244,085
516,000
14,000
530,000
2,916
580,616
139,023
153,091
9,547
3,544
5,401,007
463,292
205,125
297,637
643 ,0 4 0
3,031,578
28,002
519,911
8,306,075
1,700
157,585
953,803
496,042
5,979
1,779,697

$
2,936,600
529,925
24,673
323,827
2,162,558
4,5 4 3 ,5 7 6
10.975,961
23,655,437
734,639
24,390,076
138,423
4,280,062
5,614.129
5,820,891
111,224
21,591
45,145,223
2,692,696
994,687
12,131,426
4,364,154
2 9 ,0 8 7 ,8 0 5
281,235
1,552,078
5 9 ,2 43,318
In c . 2,7
6,2 3 8 ,6 3 6
6,545,438
3,404,773
13,992
11,720,342

2 ,5 0 5 ,1 0 0
4 5 7 ,4 8 7
1 9 ,1 8 0
3 4 5 ,1 1 4
2 ,1 6 3 ,2 3 0
3 ,8 4 4 ,1 8 3
10,506,080
2 2 ,5 8 1 ,2 6 7
79.5,626
2 3 ,3 7 6 .8 9 3
9 4 ,5 0 6
3 ,7 4 0 ,9 4 0
4 ,7 5 5 ,1 8 0
4 ,5 0 9 ,8 0 0
8 8 ,4 3 6
2 0 .6 3 2
4 3 ,2 6 5 ,6 9 5
3 ,0 9 2 ,2 2 4
1 ,4 5 3 ,7 3 7
10,429,471
4 ,3 1 6 ,2 5 4
2 5 ,9 8 9 ,0 4 0
2 4 8 ,4 6 7
1 ,3 7 5 ,3 2 1
0 2 ,8 7 8 ,3 1 8
45,200
5 ,8 3 0 .0 8 7
6 ,0 7 4 ,3 3 8
3 ,8 0 4 .9 7 3
15,3 7 3
10,933,298

706 ,318

598,739

8,475,502

7 ,9 4 8 ,3 6 3

2,861,119
2,9 0 1 ,359
5 ,762,478
98,659
45 ,428
9 ,177
4 5 4 ,400
36,029
132,638
/t28,476
18,716
g 6 24,313
150,457
195,561
199 ,724
84,128
/7 0 6 .3 1 *
342 ,040
20,428
11,300
72,493
7,9 7 2 ,286
42,142
1,935,917
20,838
569,583
121,013
13,719
91,299
23,043
488,121
9,549
163,904
4 7 6 ,756
16,989
44,066
346 ,586
34 ,910
65,843
2 ,694,506
506 ,070
266,376
810,073
158,909
51,533
19,557
188,351
14,000
14,861
54,691
22.4U0
63,912
15.438
580,330

2,411,700
2,483,857
4,895,557
9 1 ,6 6 0
53,093
10,245
449,400
31,320
104,058
11,445
21,417
0566,520
126,011
175,144
223,526
75.659
/ 598,739
316,571
18,173
5,872
47.797
7,3 5 6 ,8 1 0
35.372
1,706,395
29,626
698,040
44,501
13,108
102,126
24,256
499,405
8,603
176,756
579 ,9 7 0
23.559
36,369
301,239
53,917
75,519
2,467,108

13,845,914
6 ,4 1 6 ,«9 9
2 0 ,2 62,843
468,591
264,631
360 ,3 0 6
5,341,154
1,099,038
665,753
A59.681
77,896
#17973301
4,6 0 8 ,6 0 5
1,371,140
1,407,122
802,722
f 8*47 .*> 1
,')< 2
7 ,2 2 3 ,4 7 0
256,88:~

15,106,407
1 5 ,3 0 5 ,2 3 0
3 0 ,4 1 1 ,6 4 6
4 3 1 ,755275,160*
359 ,0 9 3
4 ,9 0 8 ,0 8 1
991 ,0 9 2
746 ,6 3 9
2 2 ,5 6 7
8 0 ,1 6 3
016OOS373
4 ,6 1 5 ,4 1 0
1 ,2 5 2 ,6 1 0
1 ,4 1 1 ,0 0 0
7 0 4 ,2 7 0
/ 7 ,9 4 8 ,3 6 3
6 ,6 0 6 ,7 7 4
2 6 1 ,9 5 9

257,650
727,572
147,973
43,909
17.708
194,113
12,294
11,056
42,103
19,027
41,407
11,056
547,008

506,121
3 6 5 ,1 6 0
15,9S 3,511 4 3 ,7 2 8 ,5 4 4
196,104
1 2 8 .508
9,791,024 9 ,4 0 0 ,0 3 5
72,576
85 ,3 1 5
2,768,324 3 ,1 1 2 ,7 2 7
2 0 4 ,7 * 7
480,446
7 2 ,6 9 2
80,834
402 ,2 7 8
385,257
9 0 ,5 3 7
105,662
2,416,518 2 ,4 2 6 ,7 7 2
31,056
2 6 ,4 9 9
7 8 2 ,7 9 2
835,972
1,984,352 2 ,3 5 7 ,1 7 0
1 0 6 ,144
98,954
1 6 8 ,1 6 6
205,856
1,711,419 1,526,961
195,515
2 1 5 ,1 1 9
4 3 9 ,8 0 2
451,149
1 2 ,610,S8S 1 1 ,9 9 8 ,9 -3
2,060,508
1,363,437 1 ,2 3 9 ,3 4 4
2 5 ,5 65,252 2 3 ,1 4 2 ,1 8 5
9 8 8 ,7 8 7
1 ,106,96s
3 3 6 .4 3 0
356,255
4 1 6 ,8 5 0
393,144
7.182,981 7 ,4 8 1 .3 3 4
1 0 2 ,6 9 4
102,500
5 6 ,5 6 0
75,968
1,904.624 1,75 4 .5 9 2
7 1 9 ,9 0 4
744,701
1,904,191 1 ,6 3 5 .9 8 2
2 9 0 .7 9 4
275.421
17,559,422 17,158,975

1,15S,067 3,896,226 27,025,756 s o ,445 0 8 5
356,995
223,374
63,952
5,331
13.886
9 5 .5 0 0
16,749
663,794

324.143
213,071
53.629
7.413
10,697
89,510
14,116
638,314

2,875 .037 11 ,921 .974
2.186 .0 0 6
2. \I ' , 1 0 b 0
2,486 .180 .’ ,109 17
l • .941
"
*
10
64 .498
o- i
81 ZZSl
3,969 .017 I 3 ,564 .949
4 ,655
94 376
4,483 ,434 1 ,049 ,402

$ C ov ers resu lts o n lin e s d ir e c tly op erated .
tM ex ica n cu rren cy , a In clu d e s P a d u ca h A M em p h is D iv isio n from J u ly 1 in b o th years,
t R esu lts on M on terey A M e x ica n G u lf a re
in clu d ed from M arch 1 ,1 9 0 2 . b u t fo r n o p a rt o f 1901. e C overs lines d ire ctly op e ra te d , in clu d in g th e B uffalo A A lle ’ y Val. D iv .fo r b o th y e a rs.
o In clu d e s th e H ou sto n A T e x a s C entral a n d its su b sid iary lines. E a rn in g s o l the C roiu w eil Steam sh ip L in e, n ot p re v io u sly r e p o r te d , are
n ow also in clu d ed .
c R esu lts on M on tg om ery D iv isio n are in clu d e d in b oth years.
(/In c lu d e s St. P a u l A D uluth fo r b o th y e a rs .
/T h e s e figures are the resu lts on th e A la . M idi.. B ru n sw ick A W est., Charles. A Sav.. Sav. Fla. A W est’ n and S ilv e r S p rin gs O cala A G u lf.
g T hese tigures n o w in clu d e th e C h ica g o A E a stern Illin o is in b otli years. h F rom M ay. 1 9 0 2 , in clu d e s su n dry a cq u ired roads, i In c lu d in g
earn in gs o f th e H a n co ck A Calu. b o th yea rs. I In clu d in g ea rn in g s o f th e Sav. F lo r. A W est, in b oth years, r In clu d es $ 1 0 9 ,8 3 1 oth er in co m e
in D ec., 1902, and $ 6 9 2 ,3 9 1 fro m J u ly 1.

376

THE CHRONICLE

Totals for Fiscal Tear.
In the full-page statement on the preceding page we show
the gross earnings of all roads for the period from July 1
that being now the beginning of the fisoal year of the great
majority of the roads. There are, however, some roads that
still have their own fiscal years. These with their dates are
brought together in the following.
!Latest Gross E arnings,
P eriod.

R oads.

A llegheny V a lley ...................
Atlanta * Charlotte A ir Line.
B ellefonte C entral....... ..........
Central o f New Jersey............
Chattanooga Southern..........
Chicago & N orth-W estern....
Ohio. St. P. Minn. & O m aha..
Cumberland V a lle y ..............
International & Gt. N orth’ n.
Manistee A North E a stern ...
M anlstlque................... - ...........
Mexioan C entral!.....................
M exican International...........
M exican R ailw ay....................
M exican Southern...................
Missouri P acific........................
Central B ranch.....................
T ota l....................................
National RR. o f M exico.........
Northern Central.....................
North Shore...............................
Pennsylvania, East of P.AE..*
West o f P. A E ............ .
Pere M arquette.........................
Philadelphia & E rie................
Phlla. B altim ore. A Wash’g ’n
Pitts. Cinoin. Chic. & St. L . . .
Rio Grande J u n ction ..............
St. L. V andalla A Terre H ....
Terre H aute A Indianapolis..
Terre H aute & P eoria ............
Texas A P acific........................
W est Jersey A Seashore........
W ichita V a lle y .........................

Jan.
Apr.
Jan.
Jan.
Jan.
Jane
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Apr.
Jan.
Jam
Jam
Jam
Jam
Apr.
Jam
Jam
Jam
Jam
Nov.
Jan.
Deo.
Nov.
Nov.
Nov.
Jan.
Jan.
Jam

1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to

Nov.
O ot
Deo.
Dec.
Jam
Deo.
Deo.
Deo.
Feb.
Nov.
Jam
Feb.
Deo.
Jam
Jam
Feb.
Feb.
Feb.
Feb.
Deo.
Deo.
Deo.
Dec.
Feb.
Deo.
Deo.
Deo.
Nov.
Jam
Jam
Jam
Feb.
Deo.
Aug.

Current
Tear.
30
31
31
31
31
31
31
31
7
30
31
7
31
24
21
7
7
7
7
31
31
31
31
7
31
31
31
30
31
31
31
7
31
31

P revious
Tear.

Ino.
1,756,116
58,368
15,107,661
10,228
29,511,S96
11,907,521
1,274,875
561,980
309,142
5,960
2,475,271
6,543,161
360.700
780,565
3,977,860
114,831
4 092,691
9 58,727
8,456,748
441,014
112663295
Inc.
935,463
6.423,192
2,110,462
22,559,716
573,121
566,252
467,693
151,627
1,195,478
3,893,758
39,617

$
334,378
1,640,820
62,006
16,783,498
7,306
28,584.103
11,196,403
1,131,532
503,692
311,519
9,167
1,976,477
5,960,824
355,100
685,366
3,358,206
86,220
3,444,426
803.368
8,267,048
391,375
101329795
6 085,400
892,579
6,789,689
1,944,362
20,684,355
575,851
515,856
413,411
134,535
1,258,863
3,678,658
45,970

* These figures lnolude the Buffalo & A llegh en y V alley D ivision In
both years. tT h e operations o f the M onterey A M exican G u lf are
included from Maroh 1 .1 9 0 2 .

Latest Gross Earnings by Weeks.—In the table which
follows we sum up separately the earnings for the latest
week. The table oovers the first week of February and
shows 18*75 per oent increase in the aggregate over the same
week last year.
1st week o f February.
Ann A rbor.... ................
Buffalo Rooh. <6 P lttsb’g
Canadian P a cific______
Central o f G eorgia..........
Chesapeake A O h io . . . . . .
Ohio. Great W estern.......
Chic. Ind’plis A Louisv..
Chic. Term. T ran sfer___
Clev. Cim Ohio. A St. L ..
Peoria A E astern........
Denver A R io Grande*
E vansville A Indianap..
Evans. A Terre H a u te ...
Grand Trunk................. >
Grand Trunk W e s t.. >
Det. Gr. H av. A Milw. )
H ooking V a lley ............ .
In tern T A Gt. Northern.
Iow a Central______. . . . . .
Kanawha A M ich igan ...
Kansas City S outhern. . .
Louisville A N ashville..
M exican Central..............
Minn. A St. LOUlS..........
Minn. St. P. A 8. Ste. M..
Mo. Kansas A T e x a s___
Mo. Pacific A Iron M t....
Central Branch.............
Nashv. Chat. A St. Louis.
National RR. o f M ex ico.
Norfolk A WeBtem........
Pere M arquette............ .
R io Grande S ou th ern ...
8t. Louis S outhw estern..
Sou there R a ilw a y . . . . . . .
Texas A Paoiflo___ _____
Toledo A Ohio C en tral..
Toledo Peoria A W est’n
Toledo St. L. A W est.......
Wahash . . . . ..... ............ .
Wheeling A Lake E r ie ..
W isconsin Central....... .
Total (42 roads)...........
Net increase (18-75 p.o.).

1903.

1902.

$
33,307
122,619
705,000
208,180
316,804
136,983
84,260
31,855
326,227
49.921
279,900
6,560
27,156

$
29,553
88,082
551,000
168,380
306,313
115,969
63,370
31,226
307,429
41,680
272,100
6,110
22,612

%
3,754
34,537
154,000
39,800
10,491
20,964
20,880
629
18,801
8,241
7,800
450
4,544

582,812

426,062

156,250

87,491
82,021
41,676
23,451
124,365
686.395
456,123
47,830
106,811
303,147
616,000
13.000
188.990
191,721
364.930
189,094
9.177
150.457
810,073
138,351
54,691
22,490
63.912
356,995
63,952
95,500

79,475
71,679
48,471
17,667
105,002
566,875
363,116
60,699
86,137
244,085
516,000
14,000
139,023
153,091
297.637
157,585
10,243
126.011
727,572
194,113
42,103
19,027
41,407
324,143
53,629
89,510

8,016
10,342

8,254.727

6,968,183
---

Increase.

5,784
19,363
119,520
93,007
20,674
59,062
100,000
4,000
49,967
33,830
67,343
31,509
24,446
82,501
12,588
3,463
22,505
32,852
10,323
5,990
1,308,036
1.286,544

Decrease.
9

, 6,795

2,869

1,066
5,762

16,492

For the fourth week of J annary our final statement oovers
55 roads, and shows 15-63 per oent increase in the aggregate
over the same week last year.

4 Ih week o f J a n u a ry.
Grand T ru n k ............ . j
Grand Trunk W e st.. >
Det.Gd Hav. < M ilw .)
fc
Mineral R an ge................
Minn. 8t. P. A S . 8te. M...
Mo. Paoiflo & Iron M t,...
Central B ra n ch ............
Mob. Jackson & K. City.
Pere Marquette . . . . . . . . .
Seaboard A ir L ine...........
Texas Central...................
Toronto Ham. & Buffalo.
Union Paoiflo P r o p e r ....

[VOL. L X X V I .
1903.
$

1902.

Increase.

$

$

870,067

763,766
13,637
108.467
1,036.000
29,000
2.916
263,175
316,571
17.708
11,056
547,008

2,767
27.000
303.000
10.000
2,819

Total (55 roads)............ 14,517,097 12,554,744
Net increase (15-63 p.o.).

1,999,746
1,962,358

•

106,301

16,404
135,467
1,339,000
39,000
5,735
262,639
342.040
19.557
15.438
580,330

D ecrease.

25,469
1,849
4,382
33,322

••••

536

37,393

*Inoludes Rto Grande W estern.

Net Earnings Monthly to Latest Dates.— The table follow
ing shows the gross and net earnings of S team railroads
reported this week, A full detailed statement, including all
roads from which monthly returns can be obtained, Is given
once a month in these columns, and the latest statement of
this kind will be found in the C h ro n icle of Jan. 24,
1903. The next will appear in the issue of Feb. 21,1903.
— Gross E a r n in g s .— , ------ -N et E a r n in g s. ------ ,

C u rren t
Year.

P rev iou s
Year.

Roads.
$
$
A nn A r b o r .b .......... Dec.
171,070
162,215
July 1 to Dec. 3 1 .. ...
974,218
963,386
A tl. K n o x . A N o .a .D ec.
55,349
45,798
July 1 to Dec. 31. ...
349,937
308,388
B ellaire Z. & O in ...D ec.
16,876
15.800
July 1 to Dec. 3 1 ___.
102,951
93,623
B oston & M a in e .b .—
Oct. 1 to Dec. 31___. 8,255,575 7,999,930
July 1 to Dec. 3 1 .. ...17,194,260 16,680,392
B rid g t. & S a co R .b D ec.
3,465
2,651
July 1 to Dec. 3 1 ___
25,803
22,954
C hattan’ ga South.aD ec.
10,426
6,933
July 1 to Dec. 3 1 ___
61,113
47,650
Ohio. Ind. A L on is. a.D ec.
393,953
354,496
July 1 to Dec. 3 1 ..... 2,549,895 2,366,978
Oolum .N ewb.A L .b.D ec.
15,907
14.567
July 1 to Dec. 3 1 ___
93,601
86,590
C ooperstow n & Char. V a i
13,413
Oct. 1 to Deo. 3 1 ,. ..
13,448
July 1 to Dec. 31 ___
30,289
27,488
C opper R a n g e .......Deo.
26,377
13,731
182,382
July 1 to Dec. 3 1 ___
87,140
C ornw all & L eban..D ec.
16,966
22,915
127,630
185,784
July 1 to Dec. 3 1 ___.
Cum berland V a l.b .D e c.
162,227
117,157
Jan. 1 to Dec. 3 1 .. .., 1,274,875 1,131,532
137,792
114,616
G ulf & Ship Is l...a .D e c .
843,869
667,739
July 1 to Dec. 3 1 .. ..
Ham burg R y.—
37,815
6,630
Oct. 1 to Dec. 3 1 ....
43,733
28,690
L exing’ n & E ast.b..D ec.
197,164
276,531
July 1 to Dec. 3 1 .....
Long Isla n d b —
O c t 1 to Dec. 3 1 ___. 1,358,966 1,196,759
July 1 to Dec. 3 1 .. .., 3,543,820 3,303,069
18,742
21,291
M exican T el’phone.Dec.
203,467
177,881
Mar. 1 to Dec. 31___
9,547
13,735
N e r. -Cal.-Oregon, a . Dec.
111,224
88,436
July 1 to Dec. 3 1 ___
N ew b.D ’ tchess A C onn .—
48,010
46,955
O c t 1 to Dec. 3 1 ___
93,869
90,253
July 1 to Dec. 3 1 .. ..
N.Y. Chic. A St. L o u is b —
Oct. 1 to Dec. 31___. 2,131,911 1,997,293
July 1 to Dec. 3 1 .. ... 3,776,933 3,902,900
Jan. 1 to Dec. 3 1 .. ... 7,138,897 7,485,483
N .Y . Lack. & W est.b—
O c t 1 to Dec. 31 ___. 2,138,814 2,470,254
July 1 to Dec. 3 1 .. ... 3,323,330 4.858.431
Jan. 1 to Dec. 3 1 .. .., 6,683,325 8,863,231
Syr. Bing. & N. Y .b —
285,223
271,595
O c t 1 to Dec. 3 1 ....
478,182
543,126
July 1 to Dec. 3 1 ....
947,519 1,070,916
Jan. 1 to Dec. 3 1 .. ..
N. Y. N. H. & H art.—
O c t 1 to Dec. 3 1 ___.11,523,053 11,019,499
July 1 to Dec. 3 1 — 23,595,456 22,226,796
868,569
774,126
Pere M arqu ette.a..D ec.
Jan. 1 to Dec. 3 1 .. ... 9,955,375 9,201,176
496,042
587,573
Phila. & E r ie .b ....... Dec.
Jan. 1 to Dee. 3 1 .. .. 6,423,192 6,789,689
104,058
132,638
St. Jos. A Gd. Isl.a .D e c.
665,753
746,639
July 1 to D ec 3 1 .. ..
915,658
Seaboard A ir Line aD ec. 1,046,404
July 1 to Dec. 3 1 .. ... 6,203,753 5,622,031
105,506
93,313
Tol.Peoria & W est.b Jan.
722,211
700,877
July 1 to Jan. 3 1 .. ..

C u rren t
Y ea r

$
64,445
349,542
16,354
110,354
6,469
34,535

P rev iou s
Year.

$
39,357
295,241
18,374
122,356
6,840
20,213

2,057,517 2,163,349
5,024.971 5,033,995
def.200
817
9,846
6,977
10 def.2,533
5,909 def.22,996
137,729
117,660
1,041,425
957,178
2,762
2,466
29,611
29,028
3,655
7,771
8,166
92,028
5,869
51,738
42.896
378,702
51,144
316,018

3.074
11,501
2,610
81,543
9,744
90,856
59,612
425,483
40,336
191,998

8,292
17,765
109,626

def.21
9,290
72,474

238,961
1,142,171
10,421
93,918
6,478
54,606

218,360
1,206,978
10,111
80,867
2,787
36,638

15,827
29,370

15,116
25,599

421,344
936,035
1,873,712

476,586
878,650
1,837,731

900,560 1,330,213
902,604 2.432,634
2,200,838 4,261,832
109,196
83,004
206,383

113,504
246.056
525,644

3,013,433
6,846,932
120,140
2,444.841
164,778
2,144,251
52,367
206,131
259,613
1,666,720
22,969
179,148

3,362,938
7,373,790
93,392
2,090,963
177,020
2,778,396
31,498
259,071
272,609
1,843,423
20,202
180,673

a N etearnin gs h ere g iv e n a re a ft e r d e d u ctin g t a x e s ,
b Net earnings here g iv e n a re b e fo r e d e d u ctin g t a x e s .

Interest Charges and Surplus.
,— Tnt., R entals, etc .— /—B a l. o f N et E a r n ’g s >

4<A week o f January.
P reviously rep’ d (34r’ ds)
Ala. N. O. A T e x . P a o.—
New Orl. A No. E a s t . .
A la. & V ick sb u rg.........
V ick s. 8h. A P a c .........
Central o f G e o rg ia .........
Chattanooga sou th ern ...
Clev. Cim Chic. A St. L ..
P eoria & E astern ........
Duluth So. Shore A A t . . .

1903.

1902.

$
9,706,028

$
8,426,117

$
1,316,768

84,046
47,133
51,469
233,488
3,465
548,637
88,318
78.834

73,642
41,151
41,243
249,992
2,056
476,532
67,565
67,142

10,404
5,984
10,226
33,496
1,409
72,105
20,753
11.692

Increase.

Decrease.
9

36,857

C u rren t
Year.

Roads.
$
1,187
Bellaire Zanes. & C.Dec.
B oston & Maine—
O c t 1 to Dec. 3 1 .... 2,033,662
July 1 to Dec. 3 1 .. .. 4,002,246
C ooperst’n & Char.Yal.—
4,853
Oct. 1 to Dec. 3 1___
5,665
July 1 to Dec. 3 1 .. ..
5,875
Copper R ange.........Dec.
35,274
July 1 to Dec. 3 1 .. ..

P rev iou s
Y ear.
9

1,633

C u rren t
Year.

$
5,282

P rev iou s
Year.

$
4,207

‘ 327,458
*177,798
2,004,660
4,004,470 *1,218,467 *1,310,165
6,222 *def.l,198 *def.3,107
*4,519
*2,106
7.023
8,122
2,280 def.5,512
93
30,612
56,738

THE CHRONICLE

February 14, 1903. J

/— h it.. 1Jentals, etc .— . -— lint, o f S e t E a r n ’g s.—

Current
Loads.
H am burg R y .—
O c t 1 to Dec. 3 1 . . . .
L ong Island R R .—
O c t 1 to Dec. 3 1 ___
July 1 to Dec. 3 1 . . . .
N ev.-O al.-O regon. . . Deo.
Jnly 1 to Deo. 3 1 ___
Newb. D ’ tchess A C onn .—
O c t 1 to Deo. 3 1 . . . .
July 1 to D ec. 3 1 ___
N. Y .C h lo . A Bt. L . O c t l to Dec. 3 1 ___
Ju ly 1 to Dec. 3 1 ___
Jan. 1 to Dec. 3 1 ___
N.Y. L ack . A W estern —
O o t 1 to Dec. 3 1 . . . .
Ju ly 1 to Dec. 3 1 ___
Jan. 1 to Dec. 3 1 . . . .
Byr. B ing. A N. Y . O c t 1 to D ec. 3 1 ___
Ju ly 1 to Dec. 3 1 . . . .
Jan. 1 to Deo. 3 1 . . . .
N. Y . N. H . A H a r t fo r d .—
Oct. 1 to Dec. 3 1 ___
July 1 to Dec. 3 1 . . . .
Pere M a rq u ette___Dec.
Jan. 1 to Dec. 3 1 . . . .
Bt. J o s .A G r . Is l’d -.D e c .
July 1 to Deo. 3 1 . . . .
T o l P eo. A W e s t ... Jan.
Jn ly 1 to Jan. 3 1 . . . .

Year.
9

Year.

Year.
9

P reciou s

9

Year.
9

7,745

94

547
364,758
854,167
1,875
11,250

C urrent

P reviou s

def.115

353,929 *df.75,788 *df.65,S41
860,843
‘ 431,951
*510,790
2,210
4,603
577
13,380
4 3 ,3 5 6
23,258

5,352
9,902

5,113
10,080

*10,543
*19,671

‘ 10,056
*15,655

340,276
680,180
1,316,718

317,229
635,850
1,251,091

*96,022
*272,267
*597,121

*173,556
*262,834
*618,931

610,763
1,225,245
2,457,535

611,319
289,792
1,229,638 df.322,641
2,467,621 df.2 5 6 ,6 9 7

7 18.894
1,202,996
1,794,211

45,300
91,705
184,515

52,338
97,238
187,048

63,896
d ef.8,701
21,868

61,171
148,818
338,598

2,046,623 2,038,508 ‘ 1,184,874 *1,754,498
4,696,716 4 ,074,959 *3.026,283 *3,797,697
156,285 d ef.1 1 ,4 3 8 d ef.6 2 ,8 9 3
131,578
1,610,948 1,508,889
8 33,893
582,074
40,700
11,667
8,750
22,748
52,500
70,002
136,129
206,571
23,051
22,538
431 def.2,849
161,354
157,765
21,383
19,319

* A fte r a llo w in g fo r o th e r in co m e r e o e lv e d .

STREET RAILWAYS AN1> TRACTION COMPANIES.
G ross
E a r n in g s .

A m erloan R ’ys. Co. |j.
Athens E leotrio B y ..
Bingham ton R R .......
Br’ klyn Rap.T r. C o...
B nrllngt’n (Vt.) Trao.
Charleston Cons. R y.
Gas A E le o ..............
Chicago A Mil. Eleo..
Oln. D ayton A T ol. Tr.
Oln. Newp. A Coving.
L ight A T raction t.
Oltlsens R y. A Light
(M usoatlne, Io w a ).
City E lec. (R om e.G a.)
C leveland E leotrio ..
Oleve. E ly A W e s t...
Oleve. P alnsv. A E ...
Dart. A W ’p o rt S t.R v
Detroit U nited R y .n
D etroit Y p slla’tl Ann
A r b .A Jack son Ry.
Duluth-Sup. T r a c t...
East. Ohio T raotlon ..
Elgin A u rora A Bon
G alveston C ity .........
H arrisburg T raction
Indiana p. A East. Ry.
Internat’l T rac. Co
Bystem( Buffalo), w
Lake Shore Eleo. R y .
Lehigh T raotlon ........
L exin gton R y .............
L ondon S t. R y.(C an.)
Los A n geles R a ilw a y
Mad. (W ls.) Traotlon
Met. W est Bide Elev..
MU. Eleo. R y.A L L C o.
MU. LI. H eat A Tr. Co.
Montreal Street R y
Mask. Tr. A Light. Co.
Street R y. D e p a rt..
E leotrio L ight Dep.
Gas D e p a rtm e n t...
New L ond on St. R y ..
Northern O h ioT ra ot.
Northwestern E le v ..
Oakland Trans. Cons
Olean Bt. R a ilw a y ..
Orange Oo. Traotlon.
Paoiflo E le o trio .........
Philadelphia O o.........
Pottsv. U nion Tract.
Pueblo A Suburban
Traot. A Light’ g Oo.
Rys Co. G en.—R oad s.
Light Go’ s ................
R ochester R a ilw a y ..
Sacram ento Electric
Gas A R y .................
8t. Louis T ra n sit___
South Bide E levated .
Springfield (111.) Con
Syracuse R ap.T r. R y .
T ol.B ow l.G r.A 8o.1T .
Toledo Rys. A L igh t.
Toronto R a ilw a y ___
Twin City Rap. Tran
Union (N. B ed ford )..
Union Trao. o f I n d ..
United R R ’s o f 8an
F ran olsoo................
n u lted T rao.—(A lb.)
Va. Pass. A P ow er Co
Youngstow n-Sharon
Ry. A Lt. O o............

Latest Gross Earnings.
O ur’ nt
Week o r Jfc T ea r.

P rev’us
Y ear.

8
$
J a n u a r y ... 89,889 78,735
4,094
4,110
N ovem ber
15,978 15.107
N ovem ber
1,078,192 1,038,168
D eoem ber.
5,053
6,611
Deoem ber.
Decem ber.
Deoem ber.
D ecem ber.

45,872 860,091
12,859 11,719
36,452 31,117

Deoem ber. 100,587

Jan. 1 to Latest Date.
O u rren t P revious
T ear.
T ear.
s
$
89.889
78,735
43,201
35,875
192.840
185,105
13,089,146 13,481,686
68,641
59,447
1 9 0 ,i i c

171,171

69,803 1,103,996

819,206

9,219
7,654
D eoem ber.
73,434
89,865
3,589
42,403
Decem ber.
3,581
41,248
D ecem ber. 217,594 196,624 2,503.656 2,275,489
300 845
Deoem ber. 24,710 19,406
249.259
189,187
Deoem ber. 12,473 11,920
164,971
7,088
7,903
Deoem ber.
121,581
130,035
801,045
4th w k Jan 100,275 87,986
275,593
N ovem ber
J a n u a ry ...
N ovem ber
D ecem ber.
D ecem ber.
Deoem ber.
D ecem ber.
D ecem ber.
Decem ber.
Deoem ber
N ovem ber
N ovem ber
O o to b e r ...
Deoem ber.
J a n u a r y ..
Deoem ber
D eoem ber
4th w k ja n

29,452
43,335
16,940
34.999
17,236
37,855
9,642

36,236
12,951
30.199
10,503
34,665

43,335

36,236

410.431
177,272
457,705
101,994

361.664
123,400
391,176

309,871 270,650
33,962 23,805 455,352
358,181
9,552 10,721
128,949
98,271
20,899 16,460
12,355 12.084
139,661
128,897
135,663 99,047 1,187,293
892,627
7,217
79,454
5,505
174,796 151,945
174,795
151,945
260,188 229,365 2,737,320 2,417,434
29.94C 26,3571 351,762
325,231
88 01b 34,286

6,56C
5,827
r7 1 ,1 0 3
r8 5 ,7 5 9
D ecem ber.
3,333
3,562
r2 4,253
Decem ber.
r2 2 ,3 8 6
4,65£
r2 5 ,7 4 2
3,191
D eoem ber
r3 2 ,2 1 8
4,643
4,673
Deoem ber.
69,138
71,636
617,010
D ecem ber. 64,155 53,484 746,043
105,812 96,116
96,116
105,812
Jan u ary ..
January .. 78,927 65,640
65,640
78,927
6,359
53,592
61,922
4,638
Deoem ber
6,408
6,882
D eoem ber
101,415
101,548
O o to b e r ... 61.342
Decem ber. 1,376,138 1,206,282 13,796,654 12,189,124
Decem ber.
173,210
161,648
N ovem ber 37,634
Dtoeiuber. 20,990
2,158
Deoem ber.
D ecem ber. 103,165

23,733
218,786
273,434
17.371
22.178
2,176
20,836
98,002 1,107,788 1,022,009

380,302
442,129
N ovem ber 45,424 36,092
460,685
J a n u a r y .. 527,870 460,685' 527.870
Jan u a ry .. 134,287 122,658
134,287
122 658
18,746 15,533
170,772
196,609
D eoem ber
67,406 63,470
Deoem ber
25.444
246,932
Deoem ber
Deoem ber. 139,608 126,378 1,459,091 1,311,084
Wk. F eb. 7 36.62C 31,031
198,559
168,168
1st w k Feb 69.444 60,190 379,529
530,676
27,947 23,851! S36.304
278.653
Deoem ber
9 48,388' 742.654
Deoember. 82,935 70,137
D eoem ber 515,294 464,041
4th w k J a n 27.399 25,688
Novem ber 122,396
D eoem b er.1 47,857

§4 134,064

444,995

w Beginning with D eoem ber results are fo r In te rn ’ l T raotlon Oo.
System, which now ow ue all the op era tin g oom pan les Included In the
International R ailw ay Co.
1
riB®Pllining w ith A ugust resu lts fo r 1902 are fo r C incinnati N ew port
A C ovington Light A T raction Co. F igures fo r yea r to d ate seem also
to have been revised at sam e time.

377

I These are resu lts fo r p ro p e rtie s ow nea.
I These figures are from M arch 20th to D eoem ber 31.
n T h e s e earnings lnolude the D etroit U nited R y., D etroit <s P ort
H uron Shore L ine and the S andw ich W indsor & A m h erstb n rg B y
r These figures are from M ar. 1 to Deo. 31.
mF igures fo r 1901 w ere unusually large o w in g to the South C arolin a
In ter State E x p o sitio n a t Charleston.

Street Railway Net Earnings.—The following table give*
the returns of S t r e e t 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 furnisning re
turns, and the latest statement of this kind will be found
In t h e C h r o n i c l e o f J a n . 24, 1903,
in the issue o f F e b . 21 ,1 9 0 3 .

T h e n e x t w il* a p p e a r

.— Gross E a rn in g s.— ,------ Net E arn in g s.------ ,
C urrent
P reviou s
C u rren t
1'retiou s
3 ear.
Year.
Year.
Year.
9
9
9
9

Loads.
B klvn Queens Co. A 8 .—
O c t 1 to Dec. 3 1 ___
215,252
209,951
109,361
1 0 0 ,3 2 0
Ju ly 1 to Dec. 3 1 . . . .
432,505
427,577
223,039
20 4 ,7 5 0
Ciu. N ew p. A C ov. L ight
< T r a c tio n ........ a. Dec.
fe
100,587
69,803
46,638
27,628
Jan. 1 to Deo. 3 1 ___ 1,103,995
819,206
493,551
333,942
E lm ira W ater L ’ ht A R R .- -(S treet R ailw ay D epartm ent o n ly .)
O c t 1 to D ec. 3 1 ___
41.140
36.0U7
11,366
5 ,2 6 0
Ju ly 1 to Deo. 8 1 . . . .
94,703
8 3,619
28,586
17,436
Lake Shore E l.R y .a D e c.
38,902
28,805
8,777
3,937
Jan. 1 to Dec. 3 1 . . . .
455,352
3 58,181
149,474
115,795
N ew L on d on Bt. R y.D ec.
4,643
4.073
766
1.066
Jan. 1 to D ec. 3 1 ___
71,635
23.019
69,138
23,569
Ju ly 1 to Deo. 3 1 . . . .
43,495
43,651
16,009
19,059

interest Charges and Surplus.—The follow ing S treet
railways, In addition to their gross and net earnings given In
the foregoing, also report charges for interest, & o., w ith the
mrplus or deficit above or below those oharges.
Loads.
B klyn Queens Co. A 8 .—
O c t 1 to Deo. 3 1 ___
Ju ly 1 to Deo. 3 1 ___
Cln. N ew p. A C o v , L igh t
< T r a c tio n ...........Dec.
fe
Jan. 1 to D ec. 3 1 ___

.— Int.. Rentals, etc.— . —Bat. o f Net E a rn ’ns.—
,
C urren t
P reviou s
C urrent
P reviou s
Year.
Year.
Year.
Tear.

9

9

9

9

92,973
185,941

93,147
186,381

*18.922
*39,786

*7,459
*18,866

23.886
255.873

16,223
188,362

22,752
237,678

11 ,4 0 5
145 ,5 8 0

* In clu d es “ oth er In com e.”

ANNUAL

REPO RTS.

Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since the last editions
of the I nvestors ’ and Street R a i l w a y Supplem ents .
This index does nof include reports in to-day’s C h r o n i c l e ,
R a i l r o a d s , E tc . Page.
Am . Dlst. Tel. Co. o f N. Y .......... 263
Col. Fuel & I r o n ............................ 2a3

Consol. Gas of New York.......... 28*

General Chem ical......................... 330
M onong. Kiv. Consol. Coal & Coke 2S«
Nevada California-O regon......... 202
Pressed Steel Car......................... 2d*

R a i l r o a d s . E tc .—
Page.
Republic Iron & Steel (6 m os.)....... 330
St r e e t R a i l w a y s —
Page.
D etroit United R y ............................ 282
M ilwaukee E lec. Ry. & L igh t......... 163
Northwest. Elevated R R . (Chicago) 330
T oled o R ys. & L ig h t......................... 263
T oronto Railw ay................................ 263

Southern Indiana Railway Company.
( R ep o r t fo r the y ea r ended J u n e 30, 1902. J
Secretary C. F. Weinlandjsays in substance:
P r o p e r t y .—D u ring the year stan dard station b u ild in gs h ave been
bntlt at B eehunter and K eller. A n In terlockin g p la n t has been In
stalled at the crossin g o f th e In dian apolis A V in cen n es R R . at S plonsler. Plans are b ein g p rep ared fo r a fo u n d ry building to be added to
tha shops at B edford C ondition o f ro a d w a y Is better than e v e r b e 
fore. O f the 158*g m iles o f m ain tra ck (con trastin g w ith 153*« m iles on
Ju ne 30. 1901,) 52 m iles are la id w ith 60 lb. steel, again st 62 m iles in
1901; 104*4 w ith 70-lb. steel, against 89 m iles in 1901, and 2*4 w ith
80 lb. steel. T here Is ballasted w ith ston e 93 m iles, w ith gra v el 59
miles.
The equ ip m en t Is all su pplied w ith air-brakes and au tom atio cou p 
lers and Is in e x c e lle n t oon d ltlon and fu lly em p loyed . Since th e d o s e
o f the fiscal yea r w e h ave re ce iv e d 1,000 th irty-ton co a l oars o n o r 
ders plaoed in N ov .. 1901, and F eb., 1902. Orders h ave been p la ced
fo r 2,200 ad d ition al th irty -to n co a l cars, 50 th irty ton b o x cars. 25
thirty-ton stock oars and 10 lo o o m o tlv e s. all to be d eliv ered d n rln g
1903. [On J u n e 3 0 ,1 9 0 2 . th e oom p a n y b ad 20 lo co m o tiv e s, 20 oars
In p a ssen ger se rv ice and 2,423 cars in fr e ig h t servloe.]
The oom p an y ow n s all the stock o f the Sou th ern In d ia n a E xp ress
Oo. (e x ce p t d ire cto rs’ shares) w hloh has o p era ted o n th e road slnoe
J u ly 1, 1898.
E x t e n s io n s .—W ork was oon tln u ed on th e branoh e x ten d in g sou th 
w est from J a son v llle m en tion ed In last y e a r’s rep ort, and b e fo re the
d o s e o f the n e x t flsoal y ea r lt w ill b e e x ten d ed to S nlllvan. This
bran ch has d ev elop ed severa l v a lu a b le ooal m ines, to aooom m odate
tbe business o f w hloh a d istrib u tin g yard has been bntlt at Latta.
O w ing to the difficulty o f g ettin g ou r trafflo th rou gh th e otty o f
T erre H aute, w e shall bu ild this yea r a belt lin e abou t 8 m iles in
len gth aronnd that oity. T il's line w ill sta rt from ou r yard at H o l
man Street and run north and w est u n til lt crosses the track s o f th e
C hloago A Eastern Illin ois R R , thus g iv in g as aooess ou tside o f
Terre H au te to all the railroads en terin g the city.
The d ow n -tow n exten sion to 8 e y m o u r m en tioned in the last rep ort
has been co m p le te d , and fu lly justifies ou r ex p ecta tion s as to its
v a lu e. Th* Indian Springs line w ill be exten d ed this year l*a m iles
fu rth er to T rin ity 8prln gs, w here lt is ex p eoted a h otel w ill be built
In the near future. The T rin ity S prin gs p rop erty has been acqn lred
b y the ow n ers o f Indian Springs, all o f w hom are la rg e ly Interested
In y o u r com p a n y.
T R A F F ic.-M o re than 90 per c e n t o f y on r trafflo origin ates on the
line. D uring the past year the fre ig h t hauled w as m ade up as follow s:
Ooal, 64 p e rce n t; ston e, 24 p er cen t; other Items, 12 per cen t. T h »

378

THE CHRONICLE

fa ilu re o i natural gas in the Indiana gas b e lt lias cau sed an inoreased
d em an d for ooal from y ou r lin e, w hloh is lik ely to con tin u e in defin 
itely.

The results for the three years ended Jane 30, 1900-1902
were given in the C honicle , V . 75, p. 237. The statement
for the 5 months ended Nov. 80, 1902, compares with 1901 as
follow s:
Earnings—
1902.
1901.
Freight ........................§369,311 $199,736
P assenger..................... 64,605 48,226
Wail and express........
5,435 3,912
O th e r.......................... . 36,997 14,546

E xpen ses—
1902.
1901.
Maint. o f way & struc. $31,858 $27,432
Maint. o f equipm ent.. 28,389 28,722
Conduct, transporta’n 97,526 68.127
General ex p en ses....... 2 ,716 15,363

Total ea rn in g s....$376,308 $266,420

Total ex pen ses__ $178,489 $139,644

Not earnings ..................................... ...........................................$197,819 $136,776

—V . 76, p. 213.

Capital Traction Co., W ashin gton , D. C.
( R e p o r t fo r the y e a r ended D ec. 81, 1902. J
The directors report a large increase in earnings for the
year; also that square No. 255, the site of the cable pDwer
house, ha3 been sold to the United States Government.
The results for two years past and the balance sheets of
Dec. 31, 1901 and 1903, are as follows:
1902.
1901.
T ota l ca r m ileage (inclu din g trail o a r s ).................. 9,203,548 8,781,343
G ross e a r n in g s .................................................................$ 1 ,381,033 $1,231,683
O perating ex p en set-M alntenanoe o f w ay and s tr u c tu r e s ........................
$25,961
$ 25,674
M ain ten an ce o f e q u ip m e n t.........................................
6 1,419
64,191
C on d u ctin g tra n sp orta tio n .........................................
69 ,7 2 5
67,398
C ar servioe.........................................................................
3 03,178
291,729
G en eral ex p en ses.................................................
171,703
111,179
T o ta l op era tin g ex p en ses (45 614% in 1901;
46-616 in 1 9 0 2 )....................................................
N et earnings from o p e ra tio n ....................................
In oom e from a d v ertisin g , ren ts, e t c .....................

$ 6 3 1 ,9 8 7
$ 7 4 9 ,0 4 6
2 1 ,0 0 7

$560,171
$671,512
1 9,677

T ota l n et I n c o m e .................................................... $ 7 7 0 ,0 5 3
D ed u ct—
T a x e s ..................................................................................
$ 58,153
In te r e s t..........................................................
47 ,5 0 3
T a x fo r sp ecia l p o lio e ..................................................
10,449
R eal estate p u r c h a s e d ......................................................................
D iv id en d s (4 per cen t p e r a n n u m )........................
4 8 0 ,0 0 0

$ 6 9 1,189
$ 55,281
45,254
10,265
1,000
4 8 0 ,0 0 0

B a la n ce
*$173,947
$99,389
* T here w as reoelved in a ddition from sale o f rea l estate $358 ,7 8 0 ;
fr o m w h ich p aid an extra d iv id e n d o f (4 % ' $ 4 8 0 ,0 0 0 .

[V o l. L X X V I.

South Side Elevated R R . of Chicago.
( R ep ort fo r the y ea r ended [Dec, 81,1902J
President Leslie Carter said in his annual report:
G e n e r a l R e s u l t s .—The re p o rt sh ow s an en cou ragin g con d ition .

There has been an in crea se o f 8 -95 p er cen t in the num ber o f p assen 
gers oarrled. T he co rresp on d in g gain ia reven u e has en abled us to
m eet the inoreased exp en ses o f op era tin g and at the sam e tim e c o n 
tinue th orou gh ly to m aintain th e p rop erty and m ake addition s to th e
equipm ent, whloli in orease the oon v en ien oe o ! the serv ice. The cars
have been kept in th orough rep a ir and 2,767 ties h ave been ren ew ed
and 1.200 feet o f new rail pu t in on cu rves.
W e h ave pu t in se rv ice tw en ty new oars d arin g the year. T hese oars
cost $160,000. A n ew feed w ater heater and pum p h ave b een added
at th e pow er house; fifteen addition al cells h ave been plaoed in th e
n orth storage battery; 41 ,3 7 2 fe e t o f cop p er ca b le have been in stalled ,
and th e entire stru ctu re has been fu rth er bon d ed w ith co p p e r bon ds,
to im p rove the return clrou it. The addition al ca b les ooat $37,226.
I m ention these item s to sh ow w h at has been d on e w ith th e earnings
o v e r dividends.
W a g e s —The p a y o f e v e ry em p lo y e e x o e p t th e gen eral officers has
been raised during the last fifteen m onths, m ak in g an Inorease fo r the
yea r o f $20,552 In th e p a y roll, w h ich Increase w ill b e h eavier d u rin g
1903, as som e o f the increases were m ade during th e y ea r 1902.
N e w T r a c k —W e have a p p lied to the com m on oounoil o f the c it y
fo r the righ t to b u ild a th ird traok to 43rd Street. Should th e o r 
dinance m eet w ith the a p p rov a l o f the oou n oil and the M ayor, w e w ill
also operate lines to the U nion S tock yards and to L ak e A venue. I t is
b elieved that these lines w ill be p op u la r, bu t w e m ust n o t e x p e c t a
v e ry la rge Inorease per cen t in net reven u e from them , as th e co st o f
con stru ction is a t this tim e v e ry high.

The earnings, expenses, charges, etc., are given below :
1902.
1901.
1900.
1899.
Passengers c a r r ie d ..28,676,569 26,32 0,189 24,990,878 22,628,074
Passenger e a rn in g s.$1,433,828 $ 1 ,3 1 6,000 $ 1,249,544 $1,131,404
4 6,222
37,094
38,976
O ther so u r c e s.............
50,015
T otal gro ss ......... $1,43 3 ,8 4 3

$ 1 ,3 6 2,231

$1,286,638

$1,170,880

$57,443
107,145
864,738
149,957
183,057

$74,498
105,280
3 61,620
141,202
16 2,360

$44,845
106,685
333,113
100,188
163,571

$50,754
79,489
297,490
88,471
153,727

T o ta l...................... $ 8 82,338
P.o. o f op. exp . to earns. (45-7))
Net ea rn in gs.............. $ 6 21,505
Bond in terest............
33,750
D ivid en d s...................
4 09,124

$844,960
(50-1)
$ 5 17,271
33,750
357,955

$748,402
(45-4)
$538,236
33,750
306,765

$669,931
(41-8)
$500,449
33,750
306,672

M aintenanoe o f w a y .
Maint. o f equ ipm en t.
Conduot’ g tra n sp ’n . .
Gen. expen . & taxes.
Loop rental & exp en .

$ 160,026
B a lan ce, surplus $178,631
$197,721
$ 1 2 5,566
BALAKCE SHEET JAN. 1.
The balance sheets Dec. 31 showed ;
1903.
1902.
1903.
1902.
L ia b ilitie s$
$
A s se ts—
$
$
1901.
1902.
1901.
1902.
Capital stock.......... 12,000,000 12,000 000 C on stru ction ........ 7,600,818 7,6 j0.818
^.SSCtS""
^
Liabilities—
$
B o n d s ........................................ 1,080,0001,080,000
Equipment............. 8,874,757 3,874,757 Cost o f property.12,008,657 11,787,044 Capital stock .......10,321,800 10,323,800
100,000200,000 estate............ 1,362,616 1,91^,696 Cap. stock owned
Bills payable.............................
Real
7S0.C00
92.390
751,000
92,390 Funded d e b t___
Profit and loss ......................
137,584 Renewal fund . . . .
83,516
23,126 Materials, etc ..
50,000
24,921
50,000
23,613 Depreciation . ..
Profit and lo s s .... 265,191
................
T ick ets....................
39,389
36,261
134,840
Accounts receiv.
0,142
4,741 Current liabilities 183,814
Cash .......................
32,491
35,548 Due from agents.
722,953
4,440 R eserve................. 850,908
4,807
Current assets...
16,021
6,6^0
T otal
. ........13,212,389 13.453,845
T o ta l................ 18,219,389 13,453,845 Cash on hand......
8,814
62,721
—V . 76. p. 330.
Total...................12,158,522 11,9S1,699
T o ta l..................12,158,522 11,981,599
Lake Street Elevated R R . o f Chicago.
-V . 75, p. 1255.

( R ep o r t f o r the y e a r ended D ecem ber 31, 1902. J
A t the annual meeting on January 29 Pre3ident Knight
reviewed the history and financial condition of the property.
H is remarks on the finances may be summarized as follows:
F irst m ortgage 5 p er cen t b on d s ou tsta n d in g ........................... $ 4 ,6 2 7 ,0 0 0
F loa tin g d eb t (see b e lo w )......................................................... ........ 2,089,138
N eeded to com p lete n ecesa ry repairs, etc., s a y .........................
283,862
T o ta l requ ired “ to clea r u p floating liabilities and b on ded
d e b t (other than in com e bonds) and to oom p lete the neoes
sary rep airs to stru ctu re, station s and r o llin g stook ,” in
rou nd n u m b ers..............................................................................$ 7 ,0 0 0 ,0 0 0
O u tstan din g in com e b o n d s ........................... ................................$ 1 ,0 2 6 ,0 5 0
N ote .—
The floatin g d eb t inoludes: N otes pa ya b le, $1,321,000; oar
tru st notes, $116,000; due N orthw estern E leva ted , $606,900; sundry
aooounts, $40,000; H u m b old t Park lin e m ortgagee, $5,238; total, $2,089,138. The sum o w in g to the N orthw estern E levated em braces:
O ld d eb t on interest aooount, $168,900; in terest on first m ortgage
bon ds, $165,000; advances fo r third traok, etc., $64,500; b a la n ce on
Z ie g le r b on d purchase, $59,000; due f o r lo o p rent, $149,500,

“ W e have paid for interest during the year 1902 the sum
of $300,141.
If onr bonded indebtedness had covered our
floating debt and the bonded debt had been at the rate
of 4 per cent, then the amount of interest paid would have
represented 4 per cent on about $7,500,000. The situation of
the company is such that of necessity something mast be
done to remedy its financial condition.”
President Knight also said in part:
T h i r d T r a c k —During the y ea r 4,232 lin eal feet o f additional traok

w a s laid b etw een H om an A ve. and Sacram ento A ve. and from 52d
A ve. eastw ard. B y com p letion o f this traok w e n ow h a v e a con tin u 
ou s third tra ck fro m R ookw ell St. to 41st A ve , a distan ce o f 10,120
feet. The entire co s t o f the third track w as abou t $60,000. E xp ress
serv ioe w as p u t in operation in A ugust.
E q u i p m e n t , E t c .— In 1896 the oom p an y ow n e d 100 oars, 37 o f
■which were con v erted in to m otor cars. N o new equ ip m en t was bought
u n til 1900, when 15 additional trailers w ere purchased fo r $45,000.
I n 1902 the oom p an y received 20 new trailers and 8 new m o to r cars,
the total p rice b ein g $130,000, fo r w hich oar trusts w ere issued, o f
w h ich $11 6 ,0 0 0 are n o w outstanding. The oom p a n y n ow has 45
m o to r cars, 122 trailers an d 2 flat oars.

Earnings, expenses and charges have been as follows:
1902.
D a ily average traffic.......
43 ,4 2 3
G ross earn in gs.................... $ 3 1 5 ,2 8 4
O peratin g e x p e n se s.........
4 3 0 ,2 9 2

1901.
42,175
$ 7 8 6 ,4 6 2
388,799

1900.
40,048
$ 7 5 7 ,9 5 5
378,661

1899.
37,266
$397,513
331,553

N et r e v e n u e ...................... $384,992

$ 3 9 7 ,6 6 3

$ 3 7 9 ,2 9 4

$365,960

Taxes...................................

$24,235

$14,857

$13,650

$13,743

In terest on b o n d s ..............
In te re st on floatin g d eb t.
I.o o p and oth er r e n ta ls ...
M iscella n eou s......................

2 36,727
64,794
84,385
1,767

2 3 5 ,6 1 7
5 6,248
82 ,9 7 0
1,767

2 24,070
37 ,7 5 7
97,887
1,178

223,655
37,745
87,177

American Graphophone Company.
( R ep o rt fo r the y e a r ended Sept. 80, 1902. J
President Edward D. Easton says :
A s clea rly ap p ears from the figures su bm itted, this has been th e
best year in every resp eot In th e h istory o f the oom pan y. T here h ave
been la rge addition s to the fa c to r y bu ildin gs, m ach in ery, stook, eto.,
m ade n ecessary to p ro v id e fo r th e con tin u a lly in creasin g bu sin ess,
and a d dition al and v a lu a b le p a te n ts h a v e been acquired.

The earnings and expenses for the year 1901-02 and the
balance sheets of Sept. 30 in 1901 and 1902 are as follows :
1901-02.
In t. on fa c t’y m tg. & d ebs. $24,070
C om m ission on d ebs, sold
3,0 3 0
M ain ten an ce....................... 24,390
Res. a cc’ t f o r d ep reo’ n.& o. 25,000
D iv. on p ref. stook (7 % ). 56,000

e a r n in g s , e x p e n s e s a n d c h a r g e s ,

N et from o p e ra tio n s....... $ 2 6 1 ,1 6 8
M isce lla n e o u s...................
15,610

$132,490
T o ta l ea rn in g s............$276,778
Surplus fo r y e a r ................................... .................................................$ 144,287
Surplus Oot. 1, 1 9 0 1 ......................... . ................................................ 186,528
Surplus O ct. 1 ,1 9 0 2 .............................................................................. $330,815
In 1900-01 gross sales w ere $ 1 ,5 9 2 ,8 8 3 ; profits, $ 1 1 4 ,1 2 0 ; d ividdend paid on p re fe rre d and oom rnon stook, 8 per cent..
BALANCE SHEET SEPT. 3 0 .
1902.
190L
1901.
Liabilities—
$
Assets—
$
$
$
800,000
Preferred stock....... 800,000
Patents, franchises,
good wills, e t c _ 1,270,280 1,261,245 Common stock.........I,200,0u0 1,199.856
_
Mortgage on factory
Stock, not is su e d ...
144
................
100,000
Plants........................ 744,249
825.004
real estate............ 100,000
Raw material ........
78,153
03,764 Deoenture 5s, due
300,000
1918.............. 1......... 451,500
G oods in process o f
m anufacture........ 164.3S2
116,030 A ccrued interest &
139,042
taxes not yet due 308,990
G >ods on hand com 
p leted ................... 13S.447
90,363 Balance to be paid
(in debentures) to
Mdse , furn. & f lit ’s
Burt Company
15,000
.Zand other assets..
410,412 399,252
A co’tsA bills receiv.
274.921 134,808 R eserved fo r depre
ciation, e tc ............
Cash
.................... 60,747
31,632
l\347
i86,528
Stocks and bonds o f
Surplus..................... 330,815
other companies.
68,818
3,169
1902.

T o ta l...................3,216.652 2,725,427
- V . 72, p. 531; V. 70, p. 790.

T otal................... 3,216,652 2,726,427

Am erican Strawboard Co.
( R ep o rt fo r the y ea r ended D ec. 27, 1902,J
President Emery makes the following statement:

On a ccou n t o f the greater sta b ility o f p rices du rin g the last six
m onths o f the year, ou r ea rn in gs du rin g that p eriod w ere m uoh larger
than du rin g the first six m onths. Our n et earn in gs from Ju n e 30 to
Deo. 27 w ere $ 2 0 2 ,4 3 1 , o r at the ra te o f 6-7 p e r c e n t per annum on our
........
oapital, I h ave e v e ry reason to su p p ose that ou r business d u rin g the
oom ing y ea r w ill be as profitable p ro p ortion a tely as during th e last
T o t a l ............................... $ 4 1 1 ,9 0 6 $ 3 9 1 ,4 5 9 $ 3 7 4 ,5 4 2 $ 3 62,820 six m onths. W e m ade and sold in 1 9 0 2 ,1 0 6 ,1 4 9 tons o f p rod u ct. The
largest p rod u ot sold in a n y p rev iou s y ea r sin ce the organ ization o f
B a la n ce fo r y ea r.............d e f.$ 2 6 ,9 1 6 su r.$6,204 su r.$4,752 su r.$3,640
the oom pan y, in 1889, w as 90,206 ton s, in 1891.
- Y . 7 6 , p . 266.

THE CHRONICLE

F ebruary 14, 1903.]

E a rn in g s.— The earninga for four years have been:
1902.
Output (to n s )......................... .. 100,149
Gross p ro fits........................... .$ 4 7 9 ,4 5 6
E xpenses and In terest___ £ 199,745
D e p recia tion .........................

1901.
1900.
85,000
90 ,0 0 0
$ 3 0 0 ,3 2 5 $ 4 81,026
2 36,879 j ; 1 88,500
138,215

$ 63,446
N et p ro fits.........................$ 2 7 9 ,7 1 1
D iv id e n d s ..............................
Earned on s to c k ...............................................................

$ 1 54,311
180,000
4-8%

1899.
80,000
$414,255
171,801
117,499
$ 1 2 4,955
4%

BALANCE SHEET OF DEC. 27.
1002.
1802.
1901.
1901.
Liabilities—
A s s e ts $
*
t
Capital stock ........... 6,000.000 3,(00,000
Real estate, patents
and m ach in ery... 6.306,693 6,220,167 Bonds ........................ 516,082 566,166
32,596 Interest accru ed.......
12,000
Additl’ ns & im prov
14,175
40,256
39,71 8 Bills p a y a b le ........... 410,000 415,000
Securities ..............
53,870
40.599 Accounts payable...
C6.683
Personal property
40.709
11,447
10,966 Surplus (undivided
Bills receivable —
Accounts receivable 339,099 264,144
profit......................... 534,616 303,558
425.000 425,1 00
Stores —
......
213,536 229,972
Supplies ..................
37,233
54,976
M erchandise..........
83,254
90.159
Cash..........................
150
Suspense..................
T ota ls................ 7,530,181 7,399,608

T ota ls.................. 7,630,181 7,399,608

The United Box Board & Paper Co. is in control. The new
board of directors includes:
R. F. N ew com b, S. H. E m ery J r., E. M. W atkins, Jam es A . R oberts,
R. B. M oE w en, W. C. Staley and T. E. E llsw orth .—V. 7b, p. 3 3 3 .

Chicago Pneumatic Tool Co.
( R e p o r t f o r the y e a r ended D ee. 3 1 ,1 9 0 2 .)
President J. W . Duntley says in substance :
G enfbal RESULTS.—W h ile the rep ort m akes an e x c e lle n t sh ow ing,
y e t certain con d ition s p ecu lia r to our first year and ten d in g to redu ce
profits for the year should he born e in m ind. T hey are as fo llo w s :
( 1) The com p a n y has n ot had the benefit o f a fu ll y ea r’s ou tp u t from
all o u r plants, as on e o f these w as taken o v e r in M arch and on e in
A ugust, 1902, sh ow ing fo r those p lan ts an ou tp u t du rin g ten and five
m onths, resp ectiv ely .
(2) T he difficulties w h ich are a lw a ys e x p e rie n ce d in h arm on izin g
and brin g in g in to p erfe ct w ork in g ord er Interests w hich h a v e p re v 
iou sly been an tagon istic.
(3) T he ch arg e fo r old to o ls whloh the p resen t com p a n y took ov e r
and w h ich it w as n ecessary to retire, a lthou gh this com pan y reoeived
no p a rt o f the origin al profits on su ch tools. The ch arge on this a c 
cou n t should b e m u ch less th e p resen t 3 ear and w ill g ra d u a lly disap
pear en tirely.
E co n o m ies .— G reat econ om ies h ave been effected in all parts o f our
business, Inclu din g the con cen tra tion o f m a n u fa ctu re o f our variou s
tools and th e ad op tion ofn in lform m eth od s o f rep orts and a ccou n tin g
fo r our va riou s plants and sale offices. We h ope in the com in g yea r to
effeot fu rth er and m arked e co n o m ie s a lon g these and oth er lines.
O u tlook .—The ou tlook fo r the yea r 1903 is m ost en oouragin g. A ll
in dication s are th at ou r fa cilities w ill be ta x e d to the u tm ost to su p 
p ly the dem and fo r ou r to o ls and Indeed w e sca rce ly e x p e c t to be
able to d o so w ith ou t in crea sin g th e ca p a city o f som e o f ou r plan ts.
Pneum atlo to o ls are n ow re co g n ize d as part o f the standard equ ip
m ent o f ev ery b oiler sh op , sh ip-yard, lo c o m o tiv e w ork s, bridge and
con stru ction w orks, and m any oth er lines o f m a n u fa ctu re, and are
being rap id ly in trod u ced in to ston e qu arries, m ines, etc. O u r busi
ness fo r Jan u ary , 1903, is 50 p e r c e n t ahead o f the corresp on d in g
m onth on e year ago. O ur foreig n trade, w h ich show ed a rem ark able
increase du rin g th e last s ix m onths o f 1902, p rom ises even grea ter in 
crease the co m in g year.
A ssets , E t c .—A tten tion is in vited to the e x c e lle n t sh o w in g o f quick
assets - $ 1 ,249,862, against current liabilities, $ 4 01,529—this n o tw ith 
standing the liberal am ounts w ritten off fo r d ep recia tion , eto , and
$134,806 applied to ad dition s to p lan t a ccou n t. A ccou n ts p a y a b le
are $123,000 less than on e yea r a g o ; $172,000 o f b ills p a y a b le h ave
been paid o ff during the yea r and n one are n o w outstanding.

379

Cumberland (B e ll) Telephone & Telegraph Company.
( R ep o r t f o r the y ea r ended D ec. 31, 1902 J
President James E. Caldwell says in substance:
P l a n t .—T he com p a n y n o w has 338 ex ch a n g es, 49 o f w h ich w ere
bnllt, eq u ip p ed and open ed d a rin g the year, sh ow in g a n et gain o f
15 893 su bscribers, m a k in g th e tota l at th e olose o f business Deo. 31,
) 902, 92,425 subscribers. These e x ch a n g es are scattered th rou gh the
co m p a n y ’ s te rrito ry from th e O hio R iv e r to th e G u lf o f M ex ico, in
the 8 tates o f Illinois, In dian a, K en tu ck y , T ennessee, M ississippi and
Lonlslana, em bracing the cities o f L ouisville, E va n sv ille, N ashville,
M em phis and New Orleans, w ith a solid n etw ork o f toll lines co n 
n ectin g them togeth er. T he total a m ou n t o f w ire n o w in use In th e
com p a n y ’ s to ll serv ice Is 60,984 m iles, a la rg e p rop ortion o f w h ich Is
oop per.
N e w St o c k .—T o m eet the g row th and ex p a n sion o f the bu sin ess
there was issued dnrlDg the y ea r to the stock h old ers, p ro rata, at par,
stock am ounting. In round figures, to $ 1 ,8 0 0,000, b ein g 25 per cen t o f
their re sp e ctiv e holdings. This w as en tirely tak en up a coord in g to
the term s o f the offer and paid fo r p rom p tly , all o f w h ich w as e x 
pen ded during the y ea r fo r new co n stru ction . T he Increase In e x 
change subscribers and toll lin es d u rin g the y ea r so grea tly e x ce e d e d
th e estim ates that it n ecessitated an Increase In th e floatin g in d eb ted 
ness.
The e a r n iD g a , and the balance sheets of Dec. 31, compare
a s below:
E a rn in g s—
1902.
1901.
1900.
E xch a n ge se rv ice ......................................$2,20 5,082 $ 1 ,8 9 1 ,7 2 6 $ 1 ,3 3 5 ,5 9 4
T o l l s ............................................................
7 96,778
660,935
4 7 6 ,4 7 0
P rivate lin e s ..............................................
3 ,6 8 4
3,451
2,863
2 4 ,1 0 4
24 ,2 2 7
17,054
R eal esta te.................................................
Other s o u rce s............................................
4 0 ,5 1 5
62,224
52,033
T o t a l ............................................... ..$ 3 ,0 7 0 ,1 6 3 $2,642,562 $ 1 ,8 8 4 ,0 1 *
E xpenses—
G eneral e x p e n se................
$ 2 5 4 ,4 7 9
$ 2 0 0 ,2 5 3 $154,138
O peratin g e x p e n s e ............................. .
578,111
449,997
309,539
M a in t, re co n stru ctio n , e tc.. ......... 1 ,2 2 5 ,2 6 6 1,136,588
734,545
R eal estate and m lsoel. e x p e n se .......
10,328
7 ,6 2 0
7,581
T o t a l ..................................................... $ 2 ,0 6 8 ,1 8 4 $ 1 ,7 9 4 ,4 5 6 $1.2 0 5 ,8 0 3
N et e a rn in g s.............................................. $ 1 ,0 0 1 ,9 7 9 $84 8 ,1 0 6 $67 8 ,2 1 1
D educt—
T a x e s ............................................................
$ 8 0 ,7 2 0
$ 9 5 ,3 1 0
$83 ,0 7 4
In te r e s t........................
1 3 9 ,0 9 4
114,734
7 4 ,5 7 5
D iv id e n d s.....................................................(7 )623,203 (7)468,539 (6 )3 3 9 ,1 5 5
T ota l d e d u c tio n s..............................
Surplus ea rn in g s....................................
T ota l surplus D eo. 3 1 ............................

AO
f

n

$ 8 4 3 ,0 1 7
$ 1 5 8 ,9 6 2
893,048

$678,583
$ 1 6 9 ,5 2 4
$73 4 ,0 8 6

$ 5 0 1 ,8 0 5
$176,406
$564,562

BALANCE SHEET DEC. 31.
1902.
1901.
C

*

Plant .....................12,768,224 10,356,696
Real estate & bu ild
in gs.......................
449,023
376,405
Materials. .............
405,830
280,485
Stocks and bonds..
244,496
254,158
237,160
112,349
Cash.........................

T o ta l............... 14,114,732 11,379,091
—V . 76, p. 161, 50.

1902.
1901.
L iabilities—
t
$
Capital stock ......... 9,106.200 7.261.200
B o n d s ..................... 1.'99,000 1,314,010
Surplus....................
893 018
734,0-6
Reserve fo r renew. 629 351
664.817
Bills and accounts
payable inet)
. 1,680,248 1,1118 3
Due for real estate
35,267
61,285
Res forcon tin .lia b ’8 312.260
74,829
Undivided profits.
159.358
127.071

T ota l... ......... 14,114,732 11,379,091

Cuyahoga Telephone Co., Cleveland, 0.
( R ep o r t fo r the y ea r ended D ec. 31,1902. J
President Dickson, at the annual meeting, said in part:

O bsta c l e s .—The rep ort fo r th e y ea r 1902 show s a su rplu s o f $54 2
and th e op era tion s sin ce o rg a n iza tio n a lo ss o f $29,143. T his resu lt
Is due to tw o cau ses—first, e x tra v a g a n ce In m an agem en t and. secon d ,
low rates fo r telephon es. Since Jan. 1 the salary a coou n t has been
President Duntley after his return from Europe in Septem
ou t dow n $7,000 a y e a r, and I believ e that a fu rth er sa v in g In this line
o f fu lly $20,< 00 m ay be effected and y e t th e servloe.vastly,Im proved. In
ber last was quoted as saying that his company then owned
the New Taite Howard Pneumatic Tool Co. and the Interna the operating ro o m I b e lie v e it Is quite p o ssib le to red u ce the n um ber
o f em ployes fu lly 20 per cen t. The o o st o f co lle ctin g ren tals fo r te le 
tional Pneumatic Tool Co. of England, and had reorganized phones e x ce e d s $ 10,000 a year; I am In form ed that this w o rk has been
those companies under the nsme of the Consolidated Pneu d on e b y oth er com p a n ies o f th e sam e size fo r a b ou t $8,000. T he e x 
matic Tool Co., the Chicago Pneumatic Tool Co. owning all penses o f general m anagem ent h a v e also in th e past been fa r to o h ig h .
The n et ln oom
b u ildin g
B u ild g
w as fo r
the £300,000 stock of the Consolidated Company. The latter the past year on e fo rl lthis 7 ,?about 3 [the “ E le ctric cost, bint ” ] the Item
ly $ ,3 9 .
p er oent o f its
u as
operates factories in Tooley Street, London, and in Chippen o f exp en se alon e a m ou n ted to $ 2 1 ,5 0 2 ,1 feel sure that with c a re fu l
ham, W iltshire, Eng., for the partial production of the pneu su pervision a p rop er in com e oan be earned du rin g the com in g year.
matic tools in Europe. A factory, it was also said, would be T he collection o f ren tals o f telep h on es h ave been m ost u n satisfactory .
T he tota l co lle ctio n s w ere $295,1 3 4 , b ein g on ly 91 p er oen t o f th e
erected in Scotland to duplicate the factory at Detroit and to am ount due
R at e s .—A s to a p ossib le Increase in ra tes the C ircu it C ourt at F in d lay ,
be largely devoted to the production of shipbuilding tools.
The Chicago Pneumatic Tool Co. now owns four factories in Ohio, has filed an op in ion d e n y in g th at the m uniolpal leg isla tu re has
an y a u th ority to regu late the rates ch a rg ed b v telep h on e com p an ies.
the United States and has two factories under contract man Three o f the lead in g la w firms o f this c ity h av e been asked to
ufacturing pneumatic tools. The company, it is stated, has exam ine in to this question and ad vise us as to our righ ts to regu late
recently announced the consolidation of the Aurora. 111., and rates, n otw ith sta n d in g the restriction in the ord in an ce under which,
we are acting.
ye
m
been e x 
Cleveland plants at Cleveland, with a view to economy and preseed that w e hA s fa r as h t t heardla fr oou rth e o p in io n hasreferen ce
ave the rig
to regu te
rates w ithout
increased output. (Compare V. 74, p. 97.)
to the ord in an ce. I shall n ot ad v ise an Increase in rates u ntil the effic
The income account for the calendar year 1902 and the bal ie n cy o f ou r serv ice w ill ju stify us in ask in g it. T o-day I regret to
state that this Is n o t th e case. [The p resen t rates are $43 yearly fo r
ance sheet of Dec. 31 follow :
business service.]
Net p rofits......................
$897,059
F in a n c in g .—The com p a n y is in d ebted to the F ederal T elep h on e Co,
Deduot—Bond in te re st.......................................................................... $ 1 1 5,000 in the sum o f $ 4 7 5 ,3 9 2 92 fo r ex p en d itu res m ade in in creases to th e
D ivid en d s (ag g reg a tin g 8 per o e n t ) .......................
453,264 plant. On Jan. 2 8 ,1 9 0 3 ,1 re ce iv e d a form al rep ly fro m the b on d 
R eserve fo r sin k in g fu n d ....................................................
50,000 h olders’ oom m tttee g iv in g m e to u nd erstand th at w e oou ld look fo r no
su p p ort from that sou rce In the p la o ln g o f p referred stock as p rop osed
W ritten o ff: Old tools retired , d ep recia tion , reserv e
fo r bad debts and fo r a llo w a n c e s ............................... 165,089 [at 60]. D u rin g the com in g w eek a com m u n ication w ill be sen t to th e
shareholders In vitin g su b scription s. We oan op era te this com p an y as
It n ow is w ith econ om y ja n d pay ou r ru n n in g exp en ses and bon d ed ’ In
T otal d e d u ctio n s.............................................................................. $783,353
terest. b u t w e oan do no m ore unless w e can ex ten d and im p ro v e the
U ndivided p rofits............................................................................ $113,706
serv ice so as to Justify an Increase in rates (see eiroular on p age 384).
balance sheet of dec . 31, 1902.
The results for the calendar year and the balance sheet
A ssets—
L ia b ilities—
Real estate, p lan t, patC apital stock issu ed ....$ 6 ,0 3 1 ,6 0 0 follow:
EARNINGS AND EXPENSES FOB THE TEAS 1902.
ents, good-w ill. e t o .. .$6,5 0 6 ,0 0 9 F irst m tge. 5s Issu ed .. 2 ,3 0 0 ,0 0 0
Stock other 00.’ s (oost) 1,096,925 In terest o a b o n d s.........
5 8,300
E a rn in g s—
E x p en ses—
A ccou n ts and bills re
A cco u n ts p a y a b le .........
172,598 R en ta ls, te le p h o n e......... .$313,857 O p era tin g ................ ........... $59,052
ceiv able......................... x 5 9 5 ,5 3 7 R es’rve fo r dep reolat’ n
42.764 R entals, b u ild in g .........
45,141 M ain ten an ce......... .......... 114.689
Insurance and taxes
do
fo r eink’ g fu n d
50,000 T o lls ....................................
3 6 ,5 4 7
11,403 G e n e ra l................... ...........
prepaid, e t o ...............
36,804 D lv. p a y ’ ble Jan. 15,’03
120,631 M iscellan eou s................... .
15,451 T a x e s ........................ ........... 1 9 ,4 .0
In ven tories.....................
442,217 Surplus — B a la n ce o f
Cash...............
212,108
p rofit and loss a c c o ’ nt 113,706
Total......... ........
T otal e a rn in g s ......... .$385,852
Net In co m e .. ...........
.........$156,142
T otal a s s e t s .......... $8,889,600
T ota l lia b ilities.......$8,88 9 ,6 0 0
D ed u ct—B ond in t e r e s t .............................................................
R e s e r v e fo r bad debts and d e n re o ia tlo n .........
x A fter deduotlng reserve fo r bad debts, $5 ,4 0 3 ; reserv e fo r a llo w 
...........
3,092
M iscellan eou s in t e r e s t ...
ances. $16,000.
There are also unissued $ 1 ,4 6 8 ,4 0 0 stook and $ 200,000 first m ortT o ta l d ed u ction s fro m in oom e.
5 s ; also con tin gen t lia b ility on bills d iscou n ted , $ 9 9 ,4 2 2 .—V. 76,
Surplus for p e r io d ....'..................

THE CHRONICLE

380
BALANCE SHEET DEC. 31, 1902.
Assets—
P rop erty and p la n t_$ 5,714,24.3
M aterial and su p p lies..
60,616
C urren t assets.....
101,724
1,756
D eferred assets....
D eficit.....................
29,143

L ia b ilities—
Capital s to c k ....... $ 3 ,0 0 0 ,0 0 0
B onded d e b t......... 2 ,233,000
C urrent liabilities.........
196,046
F ed eral T elephone Co..
475,393
D eferred lia b ilities____
3,043

.$5,907,482

T ota l lia b ilities....... $5,90 7 ,4 8 2

T otal assets.,
-V . 75, p. 1402.

Diamond Match Company.
( R e p o r t f o r the y e a r ended D ec. SI, 1902.)
President O. C. Barber says in part:

[V o l . L X X V I.

outstanding being p rin cip a lly fo r p rop erty purchased In 1898 and are
p a ya b le In one, tw o and three years.
M a t e r ia l B u siness . —
The m aterial business has been u n u su a lly
g ood , and the results o f the year h ave justified the b u lld in gof the J a n es
v ille gravel plant, as It lias been run to Its fu ll oapaoity.
I ce Sa l e s .—T here w as a d ecrease In sales o f loe d u rin g 1902 as c o m 
pared with 1901; but n ot as great as the difference In ternperato-res o f
the tw o years w ou ld w arrant, as 1902 w as (to O ct. 1) com p ara liv e ly
the cold est season In tw en ty years.
W ages —B y the u nionizing o f ou r d elivery m en, the Increase in p a y 
roll (w ith less loe distributed) w as greater than the am ou n t requ ired
to pay a dividend o f one per cen t on the oom m on stock .

Comparative results for 1901 and 1902 were as follow:
1902.
.$376,256
. 317,525

1001.
$253,823
401.264

O e n e b a l R e s u l t s .—W hile the cost o f ou r goods has m a teria lly in 
creased and the prioes ot the sam e h ave suffered a deorease, the net
$693,781 $655,087
resu lts do n ot m aterially differ from those o f th e year 1901. In no
D isbursem ents—
y e a r h ave wejmet with such dllfioultyjln m anufacture. This w as o w in g
$97,512
$99,100
to the clim atio con d ition s p reva ilin g during th e sum m er and spring,
179,730
179,736
w h ich com p elled us to shut dow n our fa ctories; but In this respeot we
h ave suffered n o m ore than o n r com p etitors. T he com p a n y Is in the
T o ta l..............
.$277,248 $278,830
b est and stron gest p osition In Its h istory, b o th co m p e titiv e ly and
$416,533 $ 376,257
Surplus Deo. 3 1 .
finan cially.
A t the beginning o f the yea r we em p loyed a b ou t tw en ty five addition al
BALANCE SHEET OF DEC. 31.
m en, w hose m ission w as edu cation al am ong the jobbers and sellers o f
1901.
1902.
1901.
1902.
m atches, that they m ight be in d u ced to h andle th e b etter grades.
Liabilities—
t
Assets—
$
This has been done at an a ggregate exp en se o f p rob a b ly $75,000. A s P la n t....................... 8,952,191 8,885.475 Common stock....... 4,0U0,000 4.000.
00
512.000 P referred sto ck ... 3.000,000 3.000.
00
a resu lt we h ave sold a v e ry m uch greater p rop ortion o f the h ig h est Bonds in treasury. 512,000
150 652 Bonds
............... 2,460,000 2,403,000
156,093
Inventories ..........
qu ality o f ou r goods.
Our n on -phosph orou s com p o sitio n fo r the
220,360 Notes pavable......
42,260
100.600
87,355
heads o f m atohes receiv ed the en dorsem en t o f all th e B oards o f F ire Cash........................
6«,04l
71,044
46,738 Accounts payable.
13.187
Notes receivable..
C om m issioners in the larger cities o f th e United States.
275,321
28,428
188.972 P a y -rolls................
37,718
A ccts. receivable.
C a l if o r n ia L u m b e r P u r c h a s e .—A n ticip a tin g the fu tu re w an ts o f Ice harvest.............
27,227
42,032
71,950 Interest accrued...
27,035
th e com p a n y , the d irectors h ave secured In C alifornia a large tra ct o f
410.633
370,266
Surplus...................
stan din g pine o f unusually g ood qu ality, som e 70,000 acres, on w h ich
T otal............... 10,038,479 10,076,153
T o t a l.............. 10,038,479 10,076,153
it is estim ated th at there are n ow stan din g tw o b illion feet o f sugar
p in e, w hite pin e, fir and other m erch an table lum ber. B ryan t & M ay, —V. 74, p. 580.
L im ited, o f L on d on , h ave taken an u ndivided on e-h a lf Interest In this
P ittsburgh Brew ing Co.
purchase. A n in d epen den t co rp o ra tio n w ill be organ ized to hold the
(R e p o r t fo r the y ea r ended O ct. 25, 1902.).
title to the real estate and to co n stru ct, m aintain and op era te n e ce s
sary m an u factu rin g plants. In this C alifornia purchase we can see
President F. W . Mueller at the annual meeting on N ov. 0,
m any years o f su p p ly fo r o u r w ants. It w ill be n ecessa ry to c o n  1902, said;
s tru ct a railroad abou t 40 m iles in len gth co n n e ctin g this p ro p e rty
D uring the y ea r a large stora ge house, w ith a ca p a city o f 200 ,0 0 0
w ith the presen t established railroads In C alifornia. A ra ilroa d c o m  barrels ou tp u t, w as ereoted at th e Iron C ity p lan t at a cost o f a b ou t
p an y has been In corporated and the w ork o f con stru ction w ill Im m e $200,000. E xten siv e Im provem ents w ere m ade at th e K ey ston e an d
d ia tely com m ence. The co st and equ ipm en t o f this road and the E berhardt & Ober plan ts. The tota l sales w ere 1 021.703 barrels,
p rop er d ev elop m en t o f a ll th e p rop erty is estim ated a t a b ou t $ 3 ,0 0 0 .- show ing an Increase o f 91,499 barrels In excess o f th e p reviou s year.
000, b u t the cost w ill be p rov id ed fo r b y the n ew co rp o ra tio n s, and e D arin g the year th e d irectors deem ed It ex p ed ien t to set ap art $ 5 0 ,w ill be a source o f profit. The railroad w ill b e b on d ed fo r th e co st o f ’ OOO per annum in a sin kin g fu n d to m eet the p aym en t o f th e o u tsta n d 
its con stru ction .
in g bonds at m a tu rity.
It is h op ed the p rop e rty can b e d ev e lo p e d la rg e ly b y A p ril, 1904. It
The earnings for three years compare as follows:
is believed that all the fo re ig n fa cto rie s in w h ich y ou r co m p a n y has a
1901-02.
190001.
189900.
su bstan tial in terest by reason o f the installation and use o f Its p a t
en ts and m ach in ery, esp ecia lly in P eru, Chili, South A frica , E ngland, Sales (num ber o f b a rre ls)............... 1,021,708
930,209
930,266
G erm any, Sw itzerland and M anila, w ill pu rchase th eir lu m ber sup- Gross ea rn in g s......................... ......... $6,766,538 $ 6,088,692 $5,796,144
lles from the C aliforn ia com p a n y . Such reason able co n tra cts w ill E x p e n se s.............................................. 4 ,643,515
4,471,014
3,965,954
e m ade as to secu re to y ou r com p a n y th e reven ues earned b y th e
C alifornia corp ora tion s. See B u tte C ounty R R , on page 381.
.$ 2 ,1 2 3 ,0 2 3 $1,617,678 $ 1,830,190
A d d it io n s , E t c .—The p h y sica l con d ition o f our m a n u factu rin g p r o p 
D ed u ct—
erties is first cla ss in e v ery respeot, and is k ept so, and th e co st th ereof
$379,140
$ 505,520
. $ 3 79,140
ch arged up to ex p en se accou n t, e x c e p t w here perm an en t en la rg e
427.006
431,155
.
427,004
m ents are m ade. W e have Increased ou r p la n t at O sw ego d u rin g the
238,390
.
2 38,490
238,490
cu rren t y ea r abou t 50 p e r c e n t, to k eep up w ith the in creasing dem and
210,649
250,000
.
5 00,000
fo r m atches. W e e x p e c t to bu ild in C alifornia during the n e x t year a
p la n t to su p p ly the P aclflo C oast w ith ou r p rod u cts and fo r ex p ort.
.$1,5 44,634 $1,285,285 $1,425,065
P o ssib l e R e in c o r p o b a t io n .—T he State o f Illin ois, b y its a n n oy 
$405,125
. $578,389
$332,393
in g requirem ents, has prom p ted th e b oa rd to seriously con sid er the
481,376
. 1,218,894
886,501
a d visa b ility o f m ov in g the hom e o f the com p a n y to som e State w here
the e x a ction s are n ot severe, and a special m eetin g ot the stock h old 
$886,501
.$ 1 ,7 9 7 ,2 8 3 $1,218,894
ers m ay th erefore be ca lled at an e a rly date to con sid er the subject.
F o r e ig n P l a n t s .—T he B ry an t & M ay Co., L im ited, o f L on d on , in
Stock in $50 shares: Common, $6,500,000; preferred 6 p. c.
w h ich ou r com p an y Is la rgely in terested, is doin g a la rge and p ro fita  cumulative, $6,500,000; first mortgage 6s due 1949, $0,500,000.
b le business, p a y in g dividen d s on b oth its p referred and d eferred
shares. Our oth er foreig n com p a n ies are yet in the fo rm a tiv e p e rio d Held in the treasury: $181,000 bonds, $399,900 preferred
o f their ex isten ce, and n o t m uoh ca n be e x p e cte d o f them fo r som e stock and $537,750 common stock.— V. 75, p. 1090.
tim e to com e; y et w e h a v e great h opes in the lon g run th at th ey w ill
Peoples’ Gas Light & Coke Co.
p ro v e profitable. T h ey are equ ipped w ith the b est and m ost m odern
m ach in ery.
(R e p o r t fo r the y ea r ended D ecem ber 31, 1902.)

E

E a rn in g s, E tc .— The income accounts for four years past
and the balance sheets of Dec. 31 compare as follows:
INCOME ACCOUNT.

1902.
1901.
1900.
1899.
$
$
$
$
P rofits.................................. 1,957,674 2 ,021,072 2,014 ,8 3 9 1 ,5 1 3 ,7 6 7
D ivid en d s (10 p. c . ) ....... . 1,500,000 1,482,787 1 ,475,000 1,193,750
S u rp lu s.................. . . . .
P reviou s su rp lu s.......

4 57,674

538,285
1,198,634

539,839
820,017

3 2 0 ,0 1 7
5 0 0 ,0 0 0

T ota l s u r p lu s ____. . . . 2,194,593
D e p re cia tio n ..............

1,736,919

1,359 ,8 5 6
259,856

8 20,017

2,194,593

1,736 ,9 1 9

•

. __ _______
1,100,000
820,017

BALANCE SHEET DEC. 31.

1902.
1901.
A ssets—
$
$
R eal estate, e t c .................. 11,78 1 ,8 2 8 10,906,816
M atch es................................
472.607
529,335
Lum ber*............................... 1 ,423,059 1 ,281,509
P in e s tu m p a g e .................. 1,509,137 1,233,389
149,724
71 1 ,3 6 9
L o g s ......................................
M iso.m dse. & ra w m aths. 31 7 ,1 9 8
2 17,618
M iso. In vestm en ts............
123,700
129,400
A cco u n ts receiv a b le........ 1,526,036 1,499,608
B ills re ce iv a b le .................
108,778
140,338
C om p any’s stock o w n e d . ......................................
C a s h .....................................
206,036
35 1 ,5 0 4
T o t a l.............................. 17,618,152 17,00 0 ,8 8 6
L ia b ilities—
C apital Btock......................15,000,000 15,000,000
A cco u n ts p ay able.............
423,559
2 63,967
Surplus and p r o fits .......... 2,194,593 1,736,919
T o t a l .............................. 17,618,152 17,000,886
—V. 76, p. 333.

1899.
S ta tistics.— Resalts for four years have been as follows:
$
1902.
1901.
1900.
1899.
10,689,269 1 0 ,8 8 3 ,1 0 4
Sales
4 5 5 ,1 7 0 592,017 o f m an u factu red
gas
........
.... ........ 7,425 979 693 6,879,419,985
9 79,009 859,828 (cubio f e e t ) .. . . . . .
G ross
1,025,392 6 83,266 r e c e ip ts.................$ 11,058,413 $9,663,746 $ 9,0*0.337 $8,096,320
O perating e x p e n s e s ....
5,913,211 4,792,441 4,447,787 3,813,038
882 605 1 ,1 6 3 ,2 9 8
2 4 5 ,7 0 7
2 7 1 ,9 2 4
N et
1 29,400 1 3 1 ,9 0 0 ea rn in g s............. $5,145,202 $4,871,305 $4,642,550 $4,283,282
999,791 7 6 In terest on b o n d s ......... $ 1 ,8 5 7 ,3 0 0 $ 1,857,300 $1,857,300 $1,857,300
3 ,7 8 2
6 30,586
611,836
584,175
464,409
1 99,636 93 D e p re cia tio n ...................
,8 1 3
2 5 0 ,0 0 0
2 50,000
T
52 4 ,2 5 3 3 05,088o t a l ........................... $ 2 ,487,886 $2,469,136 $2,441,475 $2,321,709
B alance fo r d iv id e n d s.. $2,05 7 ,3 1 6 $2,402,169 $2,201,075 $1,981,573
D ividend,
1 ,978,146 1,784,633 1,720,128 1,720,128
16,38 0 ,2 3 3 16,028,015 6 p. o ..............
$

1900.

President Knapp says in substance:
“ N otw ithstanding the con d ition s that h ave p revailed In the ooa
fields, and the eon sea u en t m aterial in crease in the oost o f fu el to th e
com p a n y, the y ea r has been a prosperou s on e, and It is gra tify in g to
n ote that th e la rgely lnoreaBed dem ands on th e com p a n y , due to the
fu el situation , as w ell as the ordin ary dem ands o f the business, h ave
all been fu lly m et u p to date, and th e patron s o f th e oom p an y h ave
been furnished w ith gas w ith ou t Increase o f an y kind in the rates
th erefor.
“ The com p a n y has pursued Its p o licy o f exten d in g its m ains to keep
p a ce with the grow th o f the c ity , and reach as n early as p ossible all o f
th e inhabitants o f the city w h o desire to use gas, and during the year
there w ere laid u pw ards o f 7 0 m iles o f exten sion s. T he ln orease, for
the year, in the n um ber o f m eters set, is 19,061, and In gas stoves In
stalled 22,073. T he in crea se alon e o f m iles of p ip e laid, m eters set and
gas stoves p u t up du rin g the p a st year w ould oreate a v e r y con sid er
able v olu m e o f business ”

$ 6 7 9 ,1 7 0 $617,536 $480,947 $241,445
15,000,000 15,00 0Surplus fo r y e a r .. ..
,0 0 0
280,233 2 07,998
BALANCE SHEET DEC. 81.
1 ,1 0 0 ,0 0 0 820,017
1902.
1901.
1901.
1902.
Liabilities—
$
$
A ssets—
$
$
16,380,233 16,028,015 fran ch ’s
Capital stock.......... 35,00 >.000 35,000,000
Real est.,

Knickerbocker Ice Company (Chicago).
( R e p o r t f o r the y e a r en d in g D ec. SI, 1902.)
President Field’s report says:
P l a n t .—T he lnorease In p lan t a cco u n t o f $ 67,015 w as la rg ely oaused
b y the erection at Pullm an o f a distributing depot; also o f a g ra v el
screen in g and cru sh in g p la n t at J a n esv ille, W ls ., and fo r a d dition al
ice rights at O oon om ow oo, W ls.
D e b t .—Outstanding bon d s w ere red u ced b y $3 ,0 0 0 from p rooeed s o f
p rop erty sold . N otes p a y a b le h ave been redu ced $ 58,250, th ose still

tun’ ls, mains,etc.70,305,802 09,009,442
M aterials................
782,582
578,179
Secu rities............... 2,246,682 2,196,590
Accts. receivable.. 369,851
315,439
Bond coup, depos’ s 350,*05
351,331
Gas bills r e ce iv ....
851,938
805,230
Other b illsrecelv ....................
49,8.2
City o f C h icag o....
101,227
100,360
C a sh ........................
935,819 1,736,923

M ortgage b o n d s .. .34,496,000 34,493,000
Gas bill deposits...
81,713
72,725
Accounts payable.
36\193
364,467
Coupons past due.
352,716
353,206
Bond Interest ac
crued..................... 217 858
217,858
Surplus................... 5,427,227 4,748,057

T otal................. 76,946,700 75,252,302

T ota l.................... 75,946,706 76,252,302

N o t e —T he securities $2,246,632 ow ned as above consist o f miscellaneous
bonds. $83,7/8, Green Street property, etc., $151,001; 20,309 shares o f capital
tock o f P eople’s Gas Light A C oke Co., $2,030,900.

THE

F e b r u a r y 14, 1903. J

CHEONICLE

M A IN S , E T C . (I N C L U D I N G H Y D E P A R K A N D M U T U A L F U E L ) , D E O . 3 1 .

1902.
1901.
1901.
1899.
Miles street m a in s....................
1,866
1,796
1,729
1,705%
Number of meters.......... ............342.150 323,089 300,077 274.601
Public lamps ................................... 25,090
24,911
24,980
25,121
—V. 75, p. 669.

GENERAL

IN V E S T M E N T

NEW S.

R A IL R O A D S , IN CLU D IN G S T R E E T R OADS.
A lb a n y & Hudson R a ilw a y & P o w e r Co.—Sold.— A t the
foreclosure sale on Feb. 11 the property was bid in for $1,250,000 by Charles H. W erner, representing Sheehan & C ollin,
attorneys fo r the C olonial Trust Co. o f N ew Y ork , trustees
under the m ortgage o f $2,500,000. See plan in V. 75, p. 847.
—V . 76, p. 265.
A n th ra cite Coal R oa ds.—Alliance with Independent O per
ators Renewed.—On Feb. 1 the independent operators re
turned to the alliance w ith the carrying com panies w hich
was abrogated early in January, the old basis o f operation
being again in force (see V . 76, p. 100).
P r o p o s itio n .- President G eorge F. Baer o f the Reading
Company at Philadelphia on Feb. 12^in a speech before the
Strike Commission made a masterly presentation o f t he p o 
sition o f the coal operators, and suggested term s o f settle
m ent w hich are thought to be rem arkably fair and reason
able. See “ Financial Situation” on a preceding page; also
“ New Y ork Sun” o f yesterday for the speech in full.
W ages.—See B itum inous Coal Companies b e lo w .—V . 76,
p. 157, 100.
B e rk sh ire (M a ss.) S tre e t R y .—A p p roved .—T h e Massa
chusetts Railroad Commission has approved the proposition
to issue $250,000 o f 20-year 5 p. c. bonds. See V . 76, p. 47.
B itu m in ou s C oal C om panies.—Increase o f W ages.—In
Indianapolis on Feb. 7, at a m eeting o f the m iners and opera
tors o f the com petitive bitum inous coal districts o f O hio,
Indiana, Illinois and the Pittsburgh d istrict o f Pennsylvania,
a scale o f wages involvin g an increase o f about 1 2 % p. c. was
form ally agreed upon for the ensuing year. A b o u t 110,000
men, producing about 100,000,000 tons o f the cou n try ’s total
bitum inous output o f about 250,000,000 tons, it is said, are
directly benefited by this advance. It is expected that the
wages in other districts w ill be made to con form to the In 
dianapolis scale. (See term s o f agreem ent in “ Journal o f
Com m erce and Com m ercial B ulletin” o f Feb. 9.)
W . B. Bogle, one o f the largest Indiana operators, is quoted
a ssa y in g :
We granted the miners an advanoe of 12^ per oent when we should
not have granted them anything, for they are better paid now than
any other olass of o f employes, considering all the conditions under
whlohthey work. But we found by experience that the publlo takes
the side of the miners whether they are right or wrong, and the know 
ledge of this condition oaused us to grant the lnorease In wanes.
Slnoe It Is to meet a publlo demand that we pay more than we ought,
it Is but fair that the publlo should pay the Increased cost, and It will
be made to do so. The lnorease In wages means that;30 cents will be
added to the cost of every ton of coal|mlned, and just that amount will
be added to every ton we sell.—V. 72, p. 626.

B oston E levated R y.—See W est End Street R y. b e lo w .—
V. 76, p. 265, 99.
B oston & M aine R R .— Q u arterly.— Earnings fo r the quar
ter and the six m onths ending D ecem ber 31 w ere:
3 mos. end’g Gross
Dec. 31—
earnings.
1902............... $3,255,578
1901 ............ 7,999,931
6 months—
1902 ............ 17,194,260
1901............... 16,680,393
- V . 75, p. 1301.

Net
earnings.
$2,057,517
2,163,349

Other
Interest, •Balance,
income.
taxes,etc.
surplus.
$155,943 $2,031,662 $177,79s
168,769 2,004,660
327,458

5,024,971
5,038,995

255,742
280,641

4,062,246 1,218,467
4,004,470 1,310,166

B u ffa lo R o ch e ste r & P itts b u r g h R y — Q u a rterly.— E a rn 
ings fo r the quarter and the six m onths ending D ecem ber 31:
8 mos. end'g Gross
Dec. 3 i — earnings.

1902.......... $1,818,465
1901
.. 1,633,118

6 months—

Net
earnings.

$741,058
736,393

Other
income.

$9,833
9,026

Interest,
taxes, etc.

$355,035
357,453

Balance,
surplus.

$395,857
387,966

381

Land Sales.—T he num ber o f acres o f lands sold du rin g the
7 m onths ending Jan. 31, 1903, was 1,527,550, against 704,392
in the same m onths o f the previous year; the am ount re
ceived was $5,237,535, an average o f $3 42 per acre, against
$2,247,117, an average o f $3 19 per a cre.—V . 75, p. 1353.
Chesapeake & O hio R y .— L isted .—The N ew Y ork Stock
E xchange has listed $1,000,000 additional general m ortgage
i % per cent bonds o f 1992, m aking the total listed $34,833,000.
The proceeds o f the new bonds have been applied as fo llo w s:
Purchase of real estate, construction and Improvements In Rich
mond, Va.; additions to yards and sidings; acquisition and construc
tion of branch lines In West Virginia; acquirement o f the capital stock
of the Guyandot Valley Ry. Co. (a b ranch road In West Virginia).

The entire outstanding stock o f the G u yan d ot V alley Ry.
Co. (unbonded) has n ow been acquired at a total cost o f
$247,121, and is deposited w ith the trustee, under the terms o f
said m ortgage.
E arnings.— F or 5 m onths ending N o v , 80 earnings w ere:
Gross earnings, $6,144,637 (against $7,226,429 in 1901); op er
ating expenses, m aintenance and taxes, $4,338,170; net earn
ings, $1,806,467; fixed charges, lees net in com e from other
sources, $1,528,327; balance, surplus, $278,140.— V. 76, p. 265.
C h icago & N orth W estern R y .— E arn in gs fo r Calendar
Y ear.— S?e last w eek’s C h r o n ic le , page 292,
Authorized.— The shareholders on Tuesday au th orized the
directors to increase the capital stock fro m $68 000,000 to
$100,000,000, in such amounts as they m ay from tim e to tim e
determ ine and fo r any purpose allow ed by law , w hether au
thorized at this m eeting or previously. It was fu rth er voted
to lease the franchises and property o f the F rem ont E lkhorn
& M issouri Valley road, and then to purchase the same ou t
right. The last-named com p an y has lon g been con trolled
through the ow nership o f its entire capital stock, its bonds
being guaranteed.— V . 76, p. 339, 157.
C h ica go R o ck Isla n d & P a c ific R y .— L isted .— The N ew
Y ork Stock E xchan ge has listed $1,000,000 additional gen 
eral m ortgage 4 per cen t bonds o f 1958, m aking the total
listed $60,581,000. The proceeds o f the new bonds have been
expended as follow s:
Construction on Chlokasha branoh, $ 19,600; on Fort Sill branoh,
$8,250; change of line at various plaoes, $103,800; track elevation In
Chicago and Davenport, $141,400; on buildings $246,116; additional
second track, $75,900: balance for real estate purchased, interlooking
plants, etc.

E arn in g s,— F or 6 m on th s ending D ec, 31:
6 mos.

Gross.

1 9 0 2 .. ..$19,306,881

Net.
Oth. inc.
Charges. B al.fordiv.
$3,452,206 $773,273 $3,915,098 $5,310,381

D ividends, a m ou n tin g to 5 % per cen t, in clu d in g the 3 per
cent “ advance paym ent on a ccou n t o f com in g year” on Jan.
3, 1903, call for $4,370,400, lea vin g balance surplus o f $939,981.
See also C hoctaw O klahom a & G u lf b e lo w .— V . 76, p.
101, 470.
C hoctaw O k lahom a & G n lf R R .—L isted .— The N ew Y o rk
Stock E xchange has listed $5,062,000 con solidated m ortgage
5 per cent bonds o f 1902, being part o f the present issue o f
$5,411,000 on accou n t o f the fo llo w in g (see V . 74, p. 151):
On 827*3 miles" of railroad owned in 1902, at $15,000 per mile,
$12,409,000; ooal estate $1,000,000; purchase of Chootaw Northern
$1,027,000; total $14,436,000; less reserved for general mortgage and
Chootaw & Memphis bonds, $9,025,000; balanoe available $5,411,000.
The proceeds of the $5,06 2,000 bonds so far certified have been applied
as follows: Purohase free and clear of prior liens of tbe property and
franchises of Western Oklahoma RR , $3,000,000; do of Choctaw
Northern RR., $1,027,000; do of Hot Springs RR , $600,000; purchase
of equipment, $435,000; total, $5,062,000.

E a rn in gs.— The results fo r the half-year ended D ec. 31,
1902, are reported to the Stock E xchan ge as fo llo w s:
Gross earnings, $3,312,150; net. $1,330,650; other inoome, $5,617;
total. $1,336,267. Deduot: Interest, ($428,967), rentals ($18,623)
and taxes ($102,632), $550,221; depredation, eto., $70,643. Balanoe,
surplus, $715,402.

This surplus ($715,402) is equal to abou t 1 % per cen t for
the h alf-year on the $15,827,500 stock , nearly all o f w h ich is
ow ned by the C hicago R o ck Island & P acific R y . C o.— V .
75, p. 1398,
C in cin n a ti ( 0 . ) T r a c tio n Co.— E a rn in gs.— The c it y ’s e x 
perts after exam ination o f the books report the gross earn
ings fo r the six m onths ending D ie . 31 a3 $1,832,861 and the
5 per cent due the city as $91,684, an increase o f $5,084 over
the same period o f 1901. T he gross receipts fo r the first h alf
o f the year w ere $1,656,523, or a total fo r the year o f $3,489,389.—V . 75, p.' 1399.
D enison B onliam & New O rlean s R y .— Bonds.—1 he
T
Texas Railroad C om m ission has approved the proposition to
issue $325,000 th irty-year g old bonds on tw enty-five miles
of com pleted road betw een B onham Junction and B onham ,
valued by the com m ission ’s engineer at $375,000.— V . 74, p.
1195.
D en ver & R io G ran d e R a ilr o a d .— Listed. — The N ew Y ork
Stock E xchange has listed $2,200,000 additional m ortgage
and collateral trust 4 per cent bonds, series A o f the Rio
Grande W estern R y. C o., m aking the total listed to d a te $12,200.000. The additional bonds have been issued on accou nt
o f im provem ents and additions. Th9 $12,276,600 consols ou t
standing w ere issued as follow s:

1902
.. 3,711,146 1,616,379
14,854
718,183
913,050
1 9 0 1 ........ 3,347,482 1,529,315
13,169
706,671
835,813
Listed.— The N ew Y o rk Stock E xchange has authorized
the lietiDg on and after Feb. 16, o f $1,300,000 additional c o m 
mon stock on official notification that it has been issued,
m aking the total authorized to be listed $8,300,000. The p ro 
ceeds o f the $1,300,000 stock are being used to pay fo r the
construction o f a branch about 46 m iles lon g from a point on
the main line near Pnnxsntaw ney to Black L ick Station on
the Indiana Branch o f the Pennsylvania R R . A n agreem ent
has been entered in to w ith the Pennsylvania R R . Co. for
trackage over about 20 m iles o f their line from B lack L ick
Station to reach coal lands near V intondale, Pa , con trolled
by the LaokawaDna Steel Co. o f B uffalo. (Com pare Y , 75,
p. 183, 846.)- V . 76, p. 157, 47.
B utte C ounty (C a l.) B R .— Diam ond M atch C o.— Subsid
iary .—This oom pany was in corporated recently in N ew J e r 
sey with $1,000,000 authorized capital stock to bu ild the
railroad spoken o f in the report o f the D iam ond M atch Co.
under “ A nnual R ep orts.”
Canadian P a cific R y .—E arn in gs. —F or the 6 m onths en d  Against 118 92 miles of railroad of Sevier Ry. Co. and Tlntlo Range Ry. Co., and for $1,301,300 first mortgage
ing Dec. 81 earnings w ere:
6 M onths-

, Gross.

Net.

Charges dt Div.

Bat., sur.

$5,593,276
$3,202,907
1902............... $22,514,903 $8,796,183
1901............... 19,897,551
8,230,840
5,474,003
2,756,837
The usual sem i-annual dividends have been declared, pay
able out o f the earnings o f the half-year, v iz ,: 2 per cent on
the preferred and 2 % per cent on the com m on stock.

bonds of Tlntlo Range Ry. Co. and $1,772,000 first mort
gage bonds of Sevier C o............. ............................................. $2,337,400
In exobange for a like amount of Rto Grande Western
first trust mortgage bonds which have been canceled.......
8CO.OOO
For equipment and Improvements and other additions and
acquisitions made with the view of Increasing the trafflo
of the company as provided In mortgage............................. 8,000,000
For 54*91 miles of new railroad................................................. 1,098,200

THE

382

CHRONICLE

E arn in gs,— The earnings o f the R io G rande W estern R y,
fo r the half-year ended Dec. 31, 1902, w ere:
6 mos.
Gross,
1902 ...$3,000,869
- V . 76, p. 168.

Net,
$1,404,462

Oth. inc.
$14,960

Charges.
$618,61.6

Bal.. sur.
$800,806

[V o l .

LXXVI.

Operations begun Jan. 14, 1902, under many adverse conditions,
but earnings have steadily Increased to a point that now taxes the
capaolty of the road. For the five months, July to Deo. 1. net earn
ings were $20,729, and dividends of 2 per cent will be paid In Jan.,
1 9 0 3 .-V. 74, p. 1355.

East St. L ou is & S u b u rb a n C om p any.—Bonds Offered.
— K in g, Hodenpyl & Co. o f C hicago and N ew Y ork offer fo r
sale $100,000 of the collateral trust gold 5s o f this com pany
at 9 7 ^ and accrued interest. T he Str e e t R a i l w a y S u p 
plem ent contains a description o f the property and a map
show ing the extent o f the trolley lines. The authorized
bond issue is $8,000,000; present issue, $6,100,000; reserved to
retire all underlyin g bonds, $215,000. The facts regarding
earnings, extensions, etc., are given in the circu la r o f the
above-nam ed firm as follow s:

In te r o c e a n ic R y. o f M e x ic o .—R e p o r t.— The pam phlet re
port fo r the year ended June 30, 1902, gives under date o f
N ov. 28, 1902, the fo llo w in g fa cts, w h ioh it is w ell to record ;
Pool.—An agreement has been entered Into with the Mexican Ry.

E rie R B . - Q uarterly.— Earnings fo r the quarter and the
six m onths ending Dec. 31 were :

and report on page 878; also V . 76, p. 831.
L o u is v ille & In te r n r b a n R y. Co .— Subsidiary E nterprise.
—This com pan y has been organized in the interest o f the
L onisville R y. Co. to con stru ct and operate trolley lines in
Jffferson , JShelby, [Oldham, B ullitt and Spencer counties,
K entucky. The com pany is authorized to borrow $3,000,000.
L o n isv ille (K y .) R y .— Com prom ise,—A cco rd in g to the
“ L onisville Tim es” o f Feb. 4 it was agreed at a con feren ce
between the com m on stockholders and several o f the d irect
ors that Charles T . Ballard and Samuel Casseday should be
elected, the board to represent the com m on stock, and that the
proposition to increase the stock should be dropped fo r the
present, o w in g to the opposition o f the com m on shareholders.
Consolidation.— See Citizens’ L igh tin g Co. under ‘ Indus
trials.”
New L in e.—See L onisville & Interbnrban R y . above.—
V . 76, p. 331.
M anhattan (E le v a te d ) R y., N ew Y ork C ity .—L isted .—
The N ew Y ork Stock E xchange has authorized the listing
from tim e to tim e on and after Feb. 16, 1903, o f $7,200,000
additional capital stock on official notification that it has
been issued and paid fo r in fu ll, m aking the total listed not
to exceed $55,200,000 — Y . 76, p. 331, 212.
M assachusetts E le c tr ic C om p anies.— Stock o f Controlled
Com pany.— T he M assachusetts R ailroad C om m ission has
authorized the M iddleton & Danvers Street R ailw ay to issue
5638,O new stock, v iz ., $465,000 for the paym ent o f floating
uO
debt, $163,000 fo r new rollin g stock and $10,000 for com p let
in g the roadbed.— V . 75, p. 1352.
New Y ork C o n n e ctin g H R .—See P ennsylvania R R . below .
- V. 74, p. 830.
New Y ork New H aven & H a r tfo r d R R .— Q uarterly.—
Earnings fo r the quarter and the six m onths ending Dec. 31
w ere:

under whloh all competitive traffic Is being pooled as from the 1st of
March last. This agreement is for a period of not less than seven
years, subject to four years’ notice if given as on the 1st of March,
1905, or not less than live years’ notice if given at any subsequent
date.
Sale of Stock.— the £1,300,000 4^ per oent second debenture
Of
stock the Board has lately disposed of £1,000,000 to the Govern
ment of Mexico at the prioe of 9 0 ^ per cent, £50,000 of whioh is to
For theyear 1901 the earnings of the constituent companies, not be issued on Deo. 30, 1902, and the remaining £950,000 on the 31st
Including the lighting company, all operating Iddependency, were: of Maroh next.
Called .—The 7 per cent “ A” debenture stock has been called for re
Gross, $578,359; net, 252.319. These figures do not Include the
earnings of the freight system and about 40 miles of suburban lines demption at the price of 110 per cent on the 31st of Maroh. 1903. The
now built and In course of construction. For the eight months end balance of the proceeds of the £950,000 seoond debenture stock (viz.,
ing Nov. 30, 1902. not Including the lighting company, the earnings £47,257 sterling) not required for the redemption of the “ A ” deben
are: Gross, $489,990; net, $236,070; Interest charges, $175,267; sur ture stook will he applied to Improvements and additions.
Contracts for the lease of the Mexican Eastern Ry. as proposed in
plus earnings, $60,803, This represents an Increase In net earnings
the last report (V. 73, p. 1264,) have been signed.—V. 75, p. 931.
of 34 p. c. over the same period last year.
The present system consists of about 100 miles of electric railway
Lake S h ore E le c tr ic R y .— Plan R atified.—The sharehold
track, comprising all the lines in East 8t. Louis, and connecting that
city with Belleville, Collinsville and Edwardsville, 111. O'Fallen and ers on Feb. 12 ratified the read j ustment plan. See V. 76, p. 158.
Lebanon, 111., will soon be served by the construction o f about 15
Lake S treet E levated R R ., C h ica g o.— D ep osits. —The re
miles of additional track. One of the most valuable lines is the two
miles of traok on the Eads Bridge, crossing the Mississippi River be organization com m ittee, H. N. H igginbotham , Chairman, re
tween St. Louis and East St. Louis. The company has exclusive quests the deposit o f stock, first m ortgage bonds and in
rights of operating;electrlc oars over this bridge for a period of fifty com es w ith the Illinois T rust & Savings Bank o f C hicago,
years. The 8t. Louis & Belleville line, operating about 20 miles of
track exclusively for freight business, extends through the ooal dis under a p rotective agreem ent. E ach depositor w ill have 30
trict; the haul from the mines to either of the two belt lines around days w ithin w h ich to dissent from any plan subm itted and
East St. Louis is from 6 to 10 miles, for whloh the company receives a to w ithdraw his securities w ith ou t cost, excep t that the
freight rate of 30 cents per ton and handles a minimum of 30 oar
loads of ooal per day. Two hundred 40-ton standard coal oars and plan m ay contain a provision offerin g first m ortgage bond
two electric locomotives are now in use In this service.
holders their ch oice o f certa in new securities or 102 and a c
The company has recently purchased all the electric-lighting prop crued interest in cash fo r their bonds, and in that event the
erty In East St. Louis, which it Is now operating.
The length of the franchises is from forty six to fifty years, with the plan shall be binding upon the bondholders, w ho, if they
exception of the franchise in Belleville, 111., covering 5 miles of track, elect not to take the new securities, m ust take cash at 102
which has seventeen years to run. Tributary to the system is a popu and interest.
Deposits o f securities w ill be received on
lation fairly estimated to be 75,000, not including 8t. Louis.—Y. 75, or before M arch 15. See advertisem ent on a preceding page
p. 184.

3 mos. end.
Gross
Net
Other
Interest,
Balance,
Dec. 31— earnings.
earnings.
income.
taxes, etc.
surplus.
1902..........$10,680,086 $3,876 557 $89,738 $2,641,590 $1,324,705
1901 ....... 9,487,330
2,912,672
7,889 2,618,900
301,661

6 m onths—

1902 ...... 20,091,110
1901......... 19,510,819

7,041,386 191,339
6,725,040 60,284

5,213,199
5,216,296

2,019,526
1,569,028

F ifty M illion D ollars Convertible B o n d s— P resen t issue
$ 1 0 ,000 ,000 ,— The lon g expected provision fo r necessary im 
provem ents and additions was m ade on W ednesday when
the board o f directors authorized the issue o f $10,000,000 4
per cent fifty-year g old bonds, con vertible in to com m on
stock on the basis o f $100 in bonds for $200 in stock, “ after
A p ril 1, 1905, and before A p ril 1, 1915, as perm itted b y an
am endm ent to the Railroad L a w o f 1902.” The m ortgage se
cu rin g the bonds w ill cover all the com pan y's property, and
w ill provide fo r the issue o f bonds not exceeding in the a g g re 
gate $50,000,000. The bonds reserved may be issued from tim e
to tim e and m ay be made con vertible in to com m on stock
at a price to be fixed when the bonds are issued.
The $10,000,000 o f bonds n ow authorized are to be offered
fo r subscription pro rata to the holders o f trust certificates
fo r first and second preferred and com m on stock at the price
o f 873^ and interest. A n underw ritin g syndicate is to take
such bonds as are not subscribed fo r by the trust certificate
holders.
The execu tive com m ittee has fo r som e tim e been carefu lly
investigating the needs o f the com pan y fo r additions and im 
provem ents, and the proceeds c f these $10,000,000 o f bonds,
together w ith the am ount o f net earnings properly appli
cable to this purpose, w ill, it is announced, be applied to
m eet the requirem ents fo r all im provem ents at present
deemed desirable, the m ost im portant o f w hich are:
Construction of modern ferry-houses at Chambers and 23rd Sts.
Purchase of new ferryboats.
Bnlldiug of modern depot and ferry houses at Jersey City.
Re-arrangement of tracks and terminals at that point.
Construction of a new line through an open out over Bergen Hill so
as to avoid the use of the present tunnel for passenger trains.
Important Improvements at stations along the suburban lines.
Various Improvements along the line, including construction of seoond and third tracks, provision o f tools, etc., for the shops.
Purchase of about 3,000 new freight oars, 50 new passenger
coaches and ICO new locomotives.—Y. 76, p. 158,101.

3 mos. end.
Gross
Dec. 31— earnings.
1902..........$11,523,053
1901 ........ 11,019,499
6 mos.
1902 ....... 23,595,456
1901.......... 22,2:6,796
- V . 76, p. 213, 102.

Net
Other
Interest,
Balance,
earnings,
income. taxes, etc.
surplus.
$3,013,438 $218,059 $2,048,623 $1,184,874
3,362,938 430,068 2,038,508
1,754,498
6,846,932
7,373,791

276,067
498,866

4,096,716
4,074,960

3,026,283
3,797,697

New Y ork O n ta rio & W estern R y .— Q uarterly.— Earnings
F lo re n ce & C anyon C ity (C o l.) E le c tr ic S tre e t R y .— See fo r the quarter and the six m onths endin g Dec. 31 w ere :
F loren ce E lectric Street Ry. b e lo w .— V . 76, p. 265.
Interest,
Balance,
Other
Net
3 mos. end'a Gross
F lo re n ce (C o l.) E le c tr ic S tre e t R y .—This is the correct
surplus.
■
earnings.
income.
taxes, etc.
Dec. 81— earnings.
$308,883
nam e o f the enterprise referred to under heading F loren ce 1902........ .$1,596,575 $544,436 $97,950 $333,503
267,044
264,592
471,390
60,246
1901........ . 1,486,415
& Canyon C ity E lectric Street R y .— V. 76, p. 265.
6 mos.
G rand T ru n k R y.— Dividends Resum ed on T hird P r e fe r  1902........ . 2,692,696
257,754
653,750
714,575 196,929
634,312
534,465
ence Sto( k .— The com pany has declared the fu ll semi-annual 1901........ . 3,092,224 1,045,156 123,621
- V . 75, p. 1400,
dividends on the guaranteed and first and second preferred
N orth J e rse y S treet R y.— Lease A g a in Upheld.— The
stocks and also 1 per cent fo r the entire yea r 1902 on the
third preferred stook, leaving £4,000 carried forw ard. The U nited States C ircuit C ourt o f A ppeals at P hiladelphia on
dividends are all payable in A pril. The net receipts, it is Feb. 4 upheld the com p an y’s lease o f the property o f the
stated, were £837,000. The last previous dividend on the Consolidated T raction Co. o f New Jersey. The Court says
that the lease “ was approved b y all the shareholders o f the
third preferred was paid in 1884.
New S tock.—The com pan y is reported to have m ade a p p li lessor com pany, exceptin g on ly the holders o f 400 shares;
cation to the Dom inion G overnm ent fo r authority to increase and this alm ost nnanim ous ju d g m en t o f those in interest,
its capital stock. It is said that the increase w ill am ount to tim e and the event have fu lly vin d icated.” L aw yer R oe
says the case w ill be appealed to the U nited States Suprem e
$5,000,000 or $10,000,000 — V. 76, p. 265.
H a rtfo rd & S p rin g fie ld S tre e t. R y .—E a r n in g s — Francis C ourt on con stitution al g rou n d s.—V . 75, p. 1087.
Oregon Short Line RR.— L isted,—The New Y ork S tock
R, C ooley of H artford, w h o is offering a^block of the $400,C O
O
1 E xchange has listed $10,000,000 additional 4 per cen t and
first m ortgage gold 5s, says:

F e b r u a r y 14, 1903. J

THE

CHRONICLE.

383

R io G ran de W estern R y.— L istin g .— See D enver & R io
Grande R R . a b ov e.—V . 73, p. 1157, 1164.
As a result of the purchase of the stock of the Northern Paolflc Ry.
R ock Isla n d C om p any.— L istin g —E a rn in g s.— See C hicago
Co., as shown by the fourth and fifth annual reports of the Uulon Pac R ock Ieland & P acific R y. and C hoctaw Oklahom a & G u lf
ific RR Co., the Oregon Short Line RR. Co. has received $82,491,000
of the stock of the Northern Securities Co. and about $9,000,000 In R R . above.— V, 76, p. 832, 266.
cash. All of said stock has been deposited with the trustee as collat
St. L ou is & San F ra n cisco R R .— F rien d ly In terests in
eral to the Issue of an equal amount of 4 per cent and participating
bonds, and all of said bonds and the above mentioned oash have been K irb y Lum ber C o.— President B F . Y oa ku m and directors
delivered and paid over to the Union Pacific RR. Co. to reimburse James C am pbell and H. Clay P ierce have purchased a co n 
said company for advances made by It In oonneotlon with the acqui siderable interest in the $10,000,000 stock o f the K ir b y L u m 
sition of the stook of the Northern Paolflc Ry. Co.; and the pnrchase- ber Co. o f Texas (see V . 75, p. 1353) w ith a view , it is u n d e r
money certificates In the amount of $61,000.000 heretofore given by
the Oregon Short Line RR. Co. to the Union Paolflo RR. Co., as well as stood, c f ensuring to the F risco the business o f carryin g a
the other obligations Incurred In connection with this transaction, portion o f the output o f the lu m ber com p an y’s m ills. This
have been satisfied and oanceled.
output, it is claim ed, w ill exceed 990,000 tons annually.
E a rn in gs.—¥ or 5 mos. ending N ov. 80 :
New L in es.— Official circu lars announce the opening fo r
5mos.
dross.
Net.
Oth. inc.
Charges.
Bal.,sur.
1902 ........$5,244,530 $3,021,504 $1,394,023 $2,573,417 $1,842,110 operation on Feb. 8 as part o f the F risco system o f the f o l
—V. 76, p. 266,213.
low in g lines:
UUa
P en n sy lva n ia R R .— Official In fo rm a tio n as to New Stock Oklahoma City & Western RR., Oklohoma City to Snyder, Ok........ 124
fc
and B onds.— W e have official confirm ation o f the statement Blackwell Enid < 8. W. Ry., Blaokwell to Red River, Ok.................239
Blackwell Eaid & Texas R y.,R ed River to Vernon, T ex .................... 12
that the managers intend at the annual m eeting to ask the
Passed Over V eto.— T he N ew Orleans C ity C ouncil on F eb.
shareholders for perm ission to increase the authorized issue
of capital stock from $285,000,000 to $400,000,000. The new 10 by a vote o f 14 to 8 passed over the M ayor’s v e to the
shares are to be issued from tim e to tim e as needed, p ro ordinance granting the privileges desired b y the com p an y
vision thus being made fo r the requirem ents o f the com pany for an entrance in to N ew Orleans.—V . 76, p. 332.
T e rm in a l R R . A sso cia tio n o f St. L o u is .—B onds Offered.
over a considerable period. The assertion that th e outstand
ing issue w ill be increased this year about 30 per cent — J. P . ’ M organ & Co. are offerin g at 101 and interest
is not confirm ed, the sentence to that effect being stricken the unsold rem ainder o f the first issue o f $18,090,000 gen eral
from the statement subm itted fo r revision. A s regards in  m ortgage refunding 4 per cen t sinking fu n d g old bonds.
debtedness, the stockholders w ill authorize m erely an increase These bonds are part o f an authorized issue o f $50,000,000, o f
in the am ount o f bonds that m ay be issued, bu t w ill not w hich $18,000,000 are n ow issued, $17,500,000 are reserved to
authorize the present issue o f any bonds. T o the inquiry retire existing bonds and $14,500,000 are reserved fo r issue
w hether the directors w ill b3 given the righ t to authorize after Jan. 1,1906, at not to exceed $1,000 000 in any one year
and issue bonds whenever they deem it advisable, the com  for betterm ents and im provem ents and the acqu isition o f ad
pany replies: “ N ot w ithout first com ing to the shareh old ditional properties. The interest and sinking la n d paym en ts
are guaranteed proportion ately by the fou rteen p ro p rieta ry
ers and gettin g their approval.” See also V . 76, p. 102,
B ridge Connecting with N. Y. N. H . & H a rtfo rd R R .— com panies, w h ich together con trol ov e r 50,000 miles o f r a il
The follow in g inform ation regarding the bridge to be c o n  w ay, or m ore than 25 per cen t o f the total m ileage in the
structed across the E ist R iver at H ell Gate by the N ew Y ork U nited States. T b e T erm inal A ssociation ow ns the m ost ex
Connecting R R , Co. (Y . 74, p. 830,) is credited to Col, Joseph tensive and com p lete system o f railw ay term inals in this
U. C raw ford, engineer o f the branch lines o f the P enn syl cou ntry, in clu d in g:
vania system :
The Uaion Station, the largest and most complete passenger station
participating 25-year coupon bonds o f 1927, m aking th e
total listed to date $41,000,000. The official statem ent says :

It Is estimated that the new bridge [iuoluding presumably the con In the world, which contains 32 parallel traoks under roof, and Is the
necting traoks, etc - E d ] will cost over $8 OOj .OOO. The bridge and passenger station in 8t. Louis of the various railway .lines entering
approaches will be two miles, and the central span will be 810 feet In that city—some twenty-two in number.
length Tbe bridge will extend from Port Morris, Harlem, to Ran
One hundred miles of main, side, yard and storage tracks, a number
dall’s Island, thenoe to Ward's Island; and from that point to Long of freight stations and warehouses, machine shops, roundhouses, eto.
Island, affording connection for the Pennsylvania lines with the New
Two belt railway lines enoiroling the city of 8t. Louts.
York New Haven & Hartford RR. It will require about three years
Three belt railway lines In the City of East 8t. Louis and vicinity.
to complete the work after construction aotually begins.
In the heart of tbe business districts of SC. Louis and East Sc. Lonls
Traffic C ongestion.— A press despatch from C hicago on it owns more than 200 aores of land.

Feb. 9 said:

In addition the Term inal A ssociation con trols in perpetu ity
b y lease the Ends Bridge and the St. L ouis tunnel.
T he entire surplus earnings since organ ization, a g g reg a t
in g about $2,500,000, have been invested in betterm ents and
additions, but in order to m eet the con stan tly g ro w in g de
Pere M arqu ette R R .—New Steamers.—Orders have been m and upon it, the T erm inal A ssociation m akes this bon d
placed w ith tbe A m erican Shipbuilding Co. fo r tw o car issue, the proceeds o f w h ich w ill be devoted to the acquisition
ferry steamers to cost about $750,000. Tne boats w ill be 850 o f a portion o f the various properties above referred to, the
feet over all, w ith capacity fo r 32 cars. T hey w ill be oper building o f an elevated structure con n ectin g th e Eads B ridge
ated betw een LudiDgton and M ilw aukee and M anitow oc. w ith the M erchants’ T erm inal R a ilw a y , th u s dou blin g the
the brid ge and enabling
the T erm inal
A nother boat has been ordered to cost $200,000, w h ich w ill capacity o f
to
m ove
passenger
trains
in to
the
carry cars from P ort H uron to Sarnia, and anorder has been A ssociation
passing
throu gh the tunnel.
placed w ith the A rm strongs, in E ngland, fo r a vessel to cost U nion Station w ith ou t
The fo llo w in g gives som e idea o f the exten t o f the business
$240,000 to ply on Lake Erie, betw een R on d eg e and Con
handled and railw ay term inals ow n ed by the various c o m 
neant.
Chicago E xten sion .—W e learn that the com pany intends panies, the properties or stocks o f w h ich com e u nder the
to build forty m iles o f road to g iv e it an entrance into general m ortgage:
Chicago. The line w ill extend from N ew B uffalo via Porter
Mileage, including main and Bide traoks, 240; lands owned and
available for Industrial plants, 1,500 aores; trans-river freight, pas
to Chicago, — Y. 76, p. 332, 213.
senger, express, mall and baggage oars handled in 1902,1,089,431
P h ila d e lp h ia & E rie R R .— A nnual M eetin g .—A t the an  oars.
nual m eeting this week a resolution was passed request
See advertisem ent on oth er pages o f this issue; also see V ,
ing the incom ing board, in v iew o f the expenditures 76, p. 267, 103,
on capital accou nt from net earnings d a rin g the fou r years
T exa s & P a c ific R y .—In terest on In com es.— A n annual d iv i
to Dae. 31, 1902, to consider a proposition to declare a stock
dividend o f 12% p, c. on the com m on stock and at the same dend o f 5 per cent has been declared on the second m ortgage
time to offer to stockholders o f record the privilege o f su b  incom e bonds, payable M arch 1, being the same rate as paid
scribing to an additional 12% p. c. o f stock at par. It is fo r the year 1901.—V . 75, p. 1303.
U n d e rg ro u n d E le c tr ic R a ilw a y s Co. o f L o n d o n .— Offering
thought unlikely that this recom m endation w ill receive
o f Stock o f L essor C om pany —In L ondon recen tly Speyer
fav arable consideration at present, if ever.
B rothers offered at par (£L0 per share) £2,000,000 o f the
E arnings.— The results fo r the calendar years w ere:
Cal.
dross
N et
Other
F ixed
E x tra 'd
B alance £4,825,000 stock o f the G reat N orthern P icca d illy & B rom pgear.
earnings.
earnings.
incom e.
charges.
ex p m .. etc. fo r stock.
1002 ..........$6,423 19i
$2,114,251
$36,-C50 $1,227.4 6
$450,000
$50.i.H‘ 8 ton Rys. C o., one o f the lessor com panies o f the U nderground
1901
6 ,7 8 0 .6 8 9
2 ,7 7 8 ,3 9 6
1 8 ,8 3 9
1 .2 2 3 ,5 1 9
1 ,0 6 9 , 8 9 6
503,868 E lectric R y. Co.
The last-nam ed corp oration has agreed to
Dividends o f 7 p. c. ($168,000) on the special guaranteed build the 7% -m ile dou ble-tube road o f the Brom pton
stock were paid in both years; also o f 4 p. c. ($319,400) for Company extending from the F in sbn ry P ark Station o f the
1902 on the com m on stock, contrasting w ith 2 p. c. ($159,700) Great N orthern R y . across H olborn and P icca d illy Circus
for 1901; balance for year, $15,766, against $176,168 in 1901.— along P icca d illy and other streets to E arl’s C ourt, and to
V. 75, p. 30.
lease the road in perpetuity at a rental equal to 4 p, c. on the
P ittsb u rg L isbon & W estern R R .—D etails o f M ortgage. stock and also on debentures, w h ich if issued are to be
—The new 50-year 4 per cent gold bonds, as shown by a lim ited to £1,608,000, The U n dergrou nd C om pany has also
printed copy o f the m ortgage n ow at hand, are lim ited to entered into an agreem ent p ro v id in g in effect as fo llo w s:
That the holders o f the 200,000 shares so offered and of a farther
$1,000,000 on present m ileage, in clud ing provision fo r the
number not
shares
underlying bonds. A dd ition al am ounts m ay be issued fo r ized capital exceeding 120,000 ordinaryshall, asof the present author
of the Railway Company
between themselves
equipment at the rate o f n ot over $10,000 per m ile o f and the holders of the remaining 162,600 ordinary shares, be entitled
single main track now ow ned or h ereafter a cqu ired, and to receive out of the profits of the Railway Company, which would
of dividends on all the abovealso at $39,000 per m ile fo r extensions, o r acquisitions, “ so otherwise be available for payment a oumnlatlve preferential divi
mentioned 482,500 ordinary shares,
that the total am ount o f such additional bonds so to be dend at the rate of 4 per oent per annum In priority to the dividends
issued at no tim e exceeds the am ount o f $40,000 per m ile on the said 162,500 ordinary shares as and when such shares or the
for each and every m ile o f single m ain track railroad at the proceeds thereof shall beoome the property of the Underground Com
pany.
time ow n ed.” See V . 76, p. 49.
Official Statem ent. —The official prospectus says In part:
R eadin g C om pany.—New D irector.— H . M cK . T w om b ly
The
who have a fully subscribed
has been elected a director to represent the new V anderbilt capitalUnderground Eleotrio Railways, of £10 each, on whloh £5 per
of £6,000,000 in 500,000 shares
interest in the com pany.— V . 76, p. 882.
share has been paid up. hold an Interest praotloally enabling them to
.

The Pennsylvania road did not move a oar of grain out of Chioago
for four days last week It has issued a fre sh embargo, refusing to
take anything but perishable freight in car-loads for points east of
Johnstown, Pa., but will take looal .tonnage for destination west of
Pittsburgh and Johnstown.—V. 76, p. 332, 266.

TH E

384

C H R O N IC LE

control the Metropolitan District Ry. which Is being rapidly converted
to electrio traotlon; they likewise hold a controlling interest in the
London United [surface] Tramways, with 2 3 ^ miles open for traffic,
and furthsr 521 miles authorized already carrying at the rate of
a
forty million passengers per annum, and feeding the Metropolitan
Dlstrlot Railway at Hammersmith; they also own almost the entire
share capital o f the Baker Street & Waterloo Ry., which oonneots
with the Railway Company’ s railway at Piooadllly Circus, and is now
rapidly nearing completion, and they own the Charing Cross Easton
& Hampstead Ry., which oonneots with the railway at Cranbourn St.
and is also being vigorously pushed forward. It is in contemplation
to w ork these railways and tramways practically as one undertaking,
whioh will not only encourage the development of traffio. but also
seoure econom ies In operation, Electrio power for the w hole under
taking will be provided from the large power-house now being
erected by the Underground Company at Chelsea.

S ubsidiary C om p a nies.— T h e
a u th orized or are prop osed :

fo llo w in g acts

h ave

been

[Y ol. LXXYI.

613), Including the factory and the extensive veneer plant at Ashta
bula, Ohio. In this w ay it acquired the exclusive rights to m anufac
ture double-stave veneer barrels and packages, and commands every
most approved process of manufacture, whether for dry or wet service.
Of the nearly forty going cooperage plants on which the oompany
holds options, not one made in Its last flsoal year less than 12 per cent
net profit on the option prloe and one o f the largest made over 20 per
cent net profit on that prloe. The cost of making a double-stave
veneer barrel Is less than one-third that of making a stave barrel of
the same size. Every plant of the corporation will be either fitted or
supplemented at the earliest possible moment with an equipm ent for
the manufacture o f double-stave veneer barrels.
Dlreotors—Joseph Lelter (President) of Chicago, W. J. A.rkell of New
York, George A. Gage, President of the National Barrel & Package
C o ; Qporge H. W orthington of Cleveland, O hio; John A. Woods of
New Y ork ; Charles W. Craven, Vioe President o f the National Barrel
& Package Co.

T he C orporation T ru st Co. is the oom p a n y ’ s N ew Jersey

Jan. 17 an increase in the share representative.
capital to £2,000,000, of which one half to be preferred.
A m e r ic a n R o ta r y R in g S p in n in g C o.— T h is com p a n y was
M e t r o p o l i t a n D i s t r i c t R y .— A t a meeting of the preference share recen tly in corp ora ted in M aine w ith $5,000,000 stock in $100
holders’ oommittee held on Nov. 2 3 ,190 2, it was agreed to advise the
holders of the £ l ,5 i 0,000 five p. o. preferenco share capital to accept shares to su cceed the R o ta ry R in g S pinning Co. o f D elaw are
the proposals for a guaranteed dividend made by the Underground and so save $2,000 a year in ta xes.— V . 72, p. 483.
Electrio Railways Co. at the follow ing rates of interest, namely 1 p. o.
A m e r ic a n [ S h ip b u ild in g C o.— C o m p etitio n .— See G reat
from Jan. 1 ,1 9 0 3 , to Jan. 1,1904; 2 p. o. from Jan. 1, 1904, to Jan. 1,
1905; 3 p. o. from Jan. 1, 1905, to Jan 1, 1907, and 3 ^ p. c. there Lakes E n gin eerin g W o rk s b e lo w .— V . 75, p. 734.
after in perpetuity, the surplus, if any. up to 5 per cent to belong to
A tla n ta (G a .) S ta n d a rd (I n d e p e n d e n t ) T e le p h o n e C o.—
the guaranteeing company, who w ill, during the continuance o f their
guaranty, exercise all voting powers in respect o f the aforesaid F oreclosed .— T he p rop erty o f th is indepen den t telephon e
stock. On Dec. 18, 1902, it was voted to authorize (1) the issue of co m p a n y w as sold on F e b . 5 under fo re clo su re o f the $600,new ordinary shares not exceeding £35,000 under A ct of 1878; (2) 000 m ortga g e o f 1900 to R o b e rt A lexa n der, trustee, for
the issue of new ordinary shares or new preference shares not exceed
ing £450,000 in pursuance o f Acts of 1882 and 1892; (3) the issue of $200,000, the upset p rice fixed by the U n ited States C ou rt,
debenture stock to the extent o f not exceeding £149,000 under A cts The plan t, it is said, in clu d es ab ou t 2,500 telephones. See V .
o f 1882 and 1902. See “ London Statist” of Deo. 20 ,190 2, page 1155.— 70, p. 282.
V. 75, p. 1355.
L ondon

U n it e d

Tram

w ays

.— On

B a y S ta te G as Co.— S ecu rities S old .—T he foreclosu re sale
was postponed fr o m T uesday u n til W ed n esd ay on a cco u n t o f
a tem pora ry in ju n c tio n issued b y J u stice D avis. On the
latter day J u stice T ruax dissolved th e in ju n c tio n on co n d i
tion that the defen dants file a b on d fo r $50,000 to p rotect the
plaintiff, Joseph C. H an d, against loss. T he sale a cco rd 
in g ly took place at the R ea l E state E xch a n ge. K id d er, P ea
b od y & Co. o f B oston pu rch ased the va riou s secu rities in the
interest o f the M assachusetts G as C om panies fo r $11,000,000.
C. G u th rie P atterson m ade a protest in b eh a lf o f holders o f
15,000 shares o f B ay State G as o f D elaw are against the sale.
T h e Bay State G as Co. o f D elaw are gives n o tice b y ad ver
tisem ent that it cla im s the sale to be “ illegal and v oid , upon
the g rou n d , arnoDg others, that b y th e term s and co n d i
tions upon w h ich su ch sale was m ade, the bidders thereat
w ere restricted to such persons, and on ly su ch persons, as
had first deposited $100,000 in cash, or a certified check, w ith
said a u ctio n e e rs.” — V. 76, p. 333, 161,
C h ica g o ( B e l l ) T e le p h o n e C o.—E n jo in ed .—T he A p p ella te
C ou rt at C h ica g o on F eb. 9 affirm ed the order entered by
J u d ge T u ley on Jan. 7, 1902, in th e a ction b rou g h t by th e
Illin ois M an u fa ctu rers’ A sso cia tio n , g ra n tin g an in ju n ction
to restrain th e co m p a n y fro m ch a rg in g m ore than $125 a
year, the rate fixed b y th e c ity ord in a n ce o f 1899, as against
$175, w h ich has been paid b y subscribers fo r u nlim ited ser
v ic e .— V . 76, p. 268.
C itiz e n s’ L ig h tin g Co,, L o u is v ille , K j . — A m a lg a m a tion .—
W . F . Sheehan, T hom as E. M urray and R . B. L ew is o f
N ew Y o r k and Joh n H ou rig a n o f A lb a n y , it is asserted,
have reached a ten ta tive agreem en t w ith lead in g sh are
holders fo r the fo rm a tio n o f a h old in g com p a n y to take over
the con trol o f the C itizens’ L ig h tin g C o., L ou isv ille G as C o.,
L ou isville E le ctric L ig h t C o. and possibly the L ou isv ille R y .
Co. (see the last nam ed com p a n y , V. 76, p. 331),— V. 72,
p. 1190.
C le v e la n d ( 0 . ) E le c t r ic I llu m in a t in g Co.— E arn in gs,
Joseph Ramsey Jr., President; L. F. Timmerman, Secretary; J. T. M. E tc .— A. brok er’s cirou la r, cfferiD g a block o f the first m ort
Barnes, Treasurer and Assistant Secretary; H. B Henson, Comp gage $1,000 g o ld 58 at 108% and interest, says:

U n ion P a c ific R R ,— L is tin g .— See O regon S h ort I / n e R R .
a b ov e.— V . 76, p. 1084, 1088, 1091.
Y in ce n n e s ( l n d . ) C itiz e n s ’ S tr e e t R y .— M o rtg a g e.— T his
com p an y has ex ecu ted a m ortga g e to the K n ick erb ock er
T ru st Co. o f N ew Y ork , as trustee, to secu re $200,090 o f first
m ortgage 5 per cen t $500 g o ld bon ds, dated Jan. 1, 1903, and
due on Jan. 1, 1923, w ith ou t op tion o f earlier re d e m p tio n .
O f the am ou n t au th orized $100,000 w ill n o w be issued.
T here are ou tstan din g $50,000 o f first m ortga g e 6s due O ct.
1, 1911, to retire w h ich and fo r im p rovem en ts $110,000 o f the
n ew bon ds w ere sp ecia lly designated. A n exten sion o f 4
m iles is proposed, upon com p letion o f w h ich the line w ill be
10 m iles in len gth , o f w h ich 7 mile3 d ou b le-tra ck ed . S tock
a u th orized, $200,000 in $100 shares. P resident, B. G , H u dn u t; S ecretary and T reasu rer, C. A . G ord on .
W abash R R .— Im p rovem en ts a n d E x te n s io n s. — See W e s t
ern M aryland R R and W h e e lin g & L a k e E rie R R , b e lo w .—
Y . 76, p, 332, 214.
W e st E nd S tre e t R y ., B o s to n .— New S tock .— T he ap p rov a l
o f the M assachusetts R a ilroa d C om m ission has been asked to
a u th orize the issue o f $500,000 ad d ition a l co m m o n stock to
co v e r th e cost o f im p rovem en ts, ad d ition s and eq u ipm en t
fro m A p r il 1, 1901, to M arch 1, 1902.— V. 74, p. 1091.
W e ste rn M a r y la n d R R .— New P resid en t.— Joseph Ram sey
J r ,, President o f the W a b a sh R R ., has been elected P resi
dent o f the W estern M arylan d and W e s t V irg in ia C entral
& P ittsb u rg h road s, to su cceed W in s lo w S. P ierce, th e la w 
y er, w h o te m p o ra rily represen ted th e interests o f the G ou ld
syndicate.
T hrough S ervice. — P resid en t R a m sey is q u o te d as saying
that he exp ects to see th ro u g h fr e ig h t trains ru n n in g in to
B altim ore fro m the W est in fr o m eigh teen m on th s to tw o
y ea rs.— V . 76, p. 49.
W est Y ir g in ia C e n tr a l & P it t s b u r g h R y .— O n ce rs.— T h e
fo llo w in g officers are a n n ou n ced :
troller; Robert Oasson, General Auditor; G. D. W oodrow, Auditor;
B. H. Griswold, General Traffio Manager; all Western M aryland men
except Mr. Woodrow.

See W estern M arylan d R R . a b o v e .— V . 75, p. 908.
W h e e lin g & L ak e E r ie R R .— D ouble T ra ck in g.— Col. M y 
ron T . H errick , Chairm an o f th e b oa rd o f d irectors, is q u oted
as sayin g :
Am ong the big im provements praotioally decided upon are the
double-tracking of the road east o f Toledo and south from C leve
land all the way through. The business of the road has increased
at suoh an enormous paoe that a double-traok line has becom e a press
ing necessity, and the work w ill doubtless be started in the near
future. Construction work on the Pittsburgh extension as well as on
the line to connect the Wheeling with the Western Maryland R oad is
being pushed forw ard rapidly, and It is expected that much w ill be
accomplished within the next few months.—V. 76, p. 209.

IN D U S T R IA L . G A S A N D M IS C E L L A N E O U S .
A dam s E x p re s s C o.— E x tr a D ivid en d .— T he m a n a gers
have declared a d iv id en d o f 2 ner ce n t fr o m “ proceeds o f sale
o f prop erty n ot needed in the co n d u c t o f th e ousiness,” p a y 
able on M arch 10, to shareholders o f record on F eb. 20, 1903.
T h e sem i-annual d ividen ds o f 4 per cen t each are p a id Ju n e
1 and D ec. l . - V . 73, p. 1265.
A m e rica n B a r r e l & P a c k a g e C o r p o r a t io n .— C om olid a
tio n .— T h is com p a n y , w h ioh w as in corp ora ted in N e w Jersey
last N ovem b er w ith $20,000,000 a u th orized stock , re ce n tly re
d u ced this to $5,000,000 in shares o f $100 each . A n a rti
c le in th e N ew Y o rk “ T rib u n e ,” apparently ob ta in e d fro m
official sou rces, says in p a r t :
The com pany first secured the patents ow ned by the Veneer Barrel
Machine Co. of Chloago, 111., and options on the plants and patents o f
nearly forty o f the m ost suooessful cooperage concerns In this cou n 
try. It afterwards took over all the rights, property, patents, privi
leges and franchises o f the National Barrel & Package Co. (V. 75, p.

Bonds authorized, $2,500,000, but at no time to exceed the amount
o f capital stoob Issued; outstanding, $1,300,000. Bonds due Oot.,
1927, but redeemable on and after April 1,1910, at 110 and acorued
Interest. A dlreot first mortgage on all the property o f the onlv elec
tric-lighting oompany In Cleveland. Franchise unlimited. The net
earnings for the year ending Deo. 31, 1901, were $278,000, and the
total fixed charges were only $69,000, of whioh $65,COO comprised
interest on bonds now issued. For the eleven months ending Nov. 30,
1902, the net earnings were $303,909, an increase o f $64,850 over
the corresponding period in the previous year. There is issued $800,000 of 6 p. o. preferred etook and $ 1,0 0 0 ,0 0 0 o f common stook.

D ividen ds at the ra te o f 6 p. c. per an nu m are paid qu a rter
ly (Q - F .) on the p referred shares. On th e com m on 2 p. c.
w88 paid in A u g u st, 1899 ; sin ce (?). T h e par value o f shares
is $100.— V . 66, p. 235,
C olu m b u s & H o c k in g C oal & I r o n C o .—Second D ividend.
— T he ex ecu tiv e co m m itte e has v oted to recom m en d to the
board o f d irectors that a d ividen d o f % o f 1 per cen t be de
clared on its com m on stock , payable in M arch , 1903, The
first d ividen d , w h ich w as fo r the sam e am ou n t, w as paid in
D ecem b er, 1902.—V . 75, p. 982.
C uyah oga T e le p h o n e Co., C le v e la n d .— P r e ferred S tock
Offered.— A circu la r sign ed by P resid en t F re d e rick S. D ickson
says in su bstan ce:
In 1900 a pool was formed by the Federal Telephone Co. to provide
funds for the development o f the Cuyahoga and United States tele
phone companies.
The members of the pool paid in large sums of
money, for whioh they were to receive bonds of these companies, t o 
gether with allotments of stock. The im provements contem plated
were begun, but the embarrassment of the Everett-M oore syndloate
in Deoember, 1901, prevented their completion. The w ork accom 
plished was not in either case sufficient to warrant the issue of
enough bonds to enable the Federal Telephone Co. to keep its agree
ment with the pool-receipt holders. A t the present time the Federal
Telephone Co. is under obligation to delirer to pool reoeipt holders
$424,667 of Cuyahoga bonds and $195,137 of United States bonds.
These pool receipts are now being taken care of by the Federal Tele
phone Co., which is issuing United States Telephone Co. bonds In the

F e b r u a r y 14, 1903.]

THE

CHRONICLE.

of the Cuyahoga Telephone Co. bonds called
by the
§laoeCuyahoga Telephone Co. remains, however,forIndebtedreoelptshe
to the

Federal Telephone Co. In the sum of $475,393. Some means must be
adopted for meeting this liability, and also for providing for the abso
lutely essential development demanded If the company is to render
efficient service and earn a profit for Its stockholders.
To secure this money we propose that the oompany authorize the
Issue of 20,000 shares of 6 p. o. cumulative preferred stook, preferred
both as to dividends and assets, of the par value of $100 per share;
that 15.000 shares of this stook be subscribed for by the common
stockholders at $60 per share. In the proportion of one share of pre
ferred stock for every two shares of common stook held by each
stockholder. Under this arrangement the Federal Telephone Co. as
the ,owner of 16,346 sharesof common stook would subscribe for 8,173
shares of preferred stock, which at $60 per share would amount to a
total of $490,380, the Federal to be allowed to use the sum due to It
from the Cuyahoga In part payment of this subscription. This leaves
a total of 6,827 shares to be taken by Individual subscribers. The
balance of 5,000 shares will be held In the treasury of the Cuyahoga
and sold from time to time at not less than $75 per share, and only
then for necessary extensions and Improvements. If a sufficient num
ber of subscriptions are received to justify aotlon a speolal meeting of
the stockholders will be oalled In the near future to authorize the
Issue of this preferred stock. [See report on page 379.] — 75, p. 1402.
V.

D e tro it & C leveland N avigation Co.—Stock Dividend. — At
the annual m eeting in D etroit on Feb. 4 a stock dividend o f
33% per cent was declared, increasing the capital stock from
11,500,000 to $2,000,000 (par value o f shares $50) in order to
distribute a part of the accum ulated surplus o f $635,000. W .
C. M cM illan is President and General Manager.
D istillers’ S ecu rities C o rp o ra tio n .—F ifth Instalm ent
Called.— The fifth instalment o f 10 per cent on the subscrip
tion to the syndicate w hich underw rote the $7,564,500 bonds
is payable Feb. 24 at the M ercantile Trust Co. See V. 76, p.
100.)- V . 76, p. 268, 105.
D om estic Sew ing M achine Co .—In corporated .—This co m 
pany has been incorporated in N ew Jersey w ith $600,000
authorized capital stock, the incorporators being Charles F.
Ayer, Henry F, J. K n obloch and John K . Erskine Jr. The
“ Newark News” says:
The oompany is formed to take over the property and business of
the New Domestlo Sewing Machine Oo. located at High and Warren
streets. This is said to be the closing chapter of the vicissitudes which
beset the former Domestlo Sewing Maohine Oo. and the Domestlo
Manufacturing Oo. of several years ago. A large sum of money is
being expended In putting the plant In flrst-olass shape. It is the
intention to Increase the working force to 800 or 1,000 hands within
a short time.—V. 68, p. 926.

E dison P o rtla n d Cem ent Co.—In O peration.—The co m 
pany’s new plant at Stew artsville, near Phillipsburg, N. J.,
was placed in operation last Decem ber, its present capacity
being about 1,500 barrels per day. This w ill be gradually in 
creased to 5,000 barrels, the building having been made to
accom m odate that output, w hile the m achinery is equal to
an output o f 10,000 barrels. The works em ploy a large
amount o f original m achinery and many labor-saving de
vices; an electric railw ay connects the various departments,
and 125 electric m otors are used fo r various purposes. The
quarries, 2% miles aw ay, are connected w ith the plant by a
railroad. The “ New Y ork T ribune” o f June 22, 1901, con 
tained further facts regarding the enterprise. The author
ized capital stock is $11,000,000, o f w hich $2,000,000 is 8
p. c. cum ulative preferred; outstanding, all the com m on and
$1,500,000 o f the preferred, the latter carryin g some amount
o f accum ulated dividends; par o f shares, $50. The plant is
said to have cost $1,700,000 independent o f patent rights.
Officers:
Wm. H. Shelmerdlne, President; W. 8. Mallory, Vice-President; W.
8. Pilling, Treasurer; Theron I. Crane, Seeretary; Thomas A. Edison,
General Manager.

General office, G irard Building, Philadelphia, P a .—V . 72,
p. 1283.
E m pire C onsolidated Q u ick silv er M in in g Co.— Receivers.
—V ice Chancellor Stevens at Jersey City on Feb. 3 ap
pointed District Court Judge Otto Crouse and R . MaoNeil r e 
ceivers for the com pany upon application made by form er
G overnor Griggs. A t Trenton, N. J., on Feb. 2, Chancellor
Magie made an order requiring the com pany, R iley A . Boggess and W illiam W . Dowie, to show cause w hy $3,799,850 o f
the $5,000,000 stock should not be canceled as representing
no actual investment. This stock is held by the N orth
American Trust Co. in trust fo r Boggess and Dowie. The
plaintiffs in the latter suit were stockholders W illiam J.
Patterson, New Y ork; A. Z. Conrad, N ew Y o rk ,a n d G eorge
W . Crosby, A tlantic C ity.—V . 75, p. 137.
Federal T eleph one Co.— Settlement.—A s stated above,
under “ Cuyahoga Telephone C o.,” the Federal Telephone Co.
is settling its obligations to deliver to pool receipt holders
$424,667 67 of Cuyahoga bonds and $195,166 66 o f United
States bonds, by issuing United States Telephone bonds
for all the receipts. As these U nited States bonds were
pledged as collateral, and in order to release them , the poolreceipts holders were asked as part o f the settlement to su b
scribe at 85 for an amount o f United States bonds equal to
the amount named in their pool receipts. “ Cleveland
Finance” recently said:
As the pool-reoeipt holders will receive l ^ year’ s Interest on their
reoelpts, this proposition for new bonds really means that the pool-re
ceipt holders mast pay In but 77 Si for the new United States bonds.
It Is also provided that the pool-reoelpt holders must give an option
to the Feaeral Telephone Oompany on all the United States bonds
they possess for ninety days at 85 and Interest.

The Federal’s debt was recently reported as about $8,800,000, offset by about $800,000 due from subsidiary com pa
nies and by ownership of about $1,800,000 bonds in subsidiary
companies and nearly $6,000,000 stock in these companies;
these amounts including the entire $2,000,000 stock o f the
United States Company and between $800,000 and $800,000 o f

385

its bonds. See statement o f earnings, properties controlled,
etc., in V . 74, p. 429, 940. See Cuyahoga Telephone Co.
above,—V . 75, p. 983.
General C hem ical Co.—New* Stock.— The preferred share
holders o f Feb. 7 are offered the privilege o f subscribing at
par till and including Feb. 26 fo r $584,000 o f preferred
stock now in the treasury to the extent o f 6 p. c. o f their
respective holdings, thus increasing the outstanding pre
ferred stock from $9,416,000 to $10,000,000. The new shares
w ill capitalize a portion o f the new construction com pleted
since June 30. 1901. See V. 76, p. 380.
General E le ctric Co.— Purchase.—It is stated on good
authority that the com pany has definitely arranged to pur
chase control o f the Stanley E lectric M anufacturing Co., but
that as regards the E lectric Storage Battery Co. the deal in 
volves nothing m ore than the establishment o f close friendly
relations between it and the General E lectric Co. W e have
not succeeded in getting the report confirm ed at the office of
the latter com pany. It is thought that the sellers w ill re
ceive in payment for their stock the stock o f the General
E lectric Co. The rum ors o f stock rights to the General E lec
tric stockholders is discredited in circles usually well in 
form ed.—V. 76, p. 268, 137.
G eorge’s Creek Coal & Ir o n Co., B a ltim ore, M d.—Stock
Dividend.— This com pany, whose stook is listed on the B alti
more Stock Exchange, has declared a stock dividend o f 100
per cent, increasing the outstanding issue to $2,200,000. The
authorized issue is lim ited to $2,500,000, o f w hich $300,000
remains in the treasury. The com pany, it is stated, was or
ganized in 1836 and has been paying 6 per cent annual d ivi
dends since 1887. Par value o f shares, $100; no bonds at last
accounts.
G eorgia T elegra p h & T elep h on e Co., Savannah, Ga.—
Bonds.— The com pany, it is stated, is preparing to issue $50,000 o f debenture bonds.—V . 73, p. 140.
G reat Lakes E n g in eerin g W ork s, D e tr o it.—L arge S hip
building P lan t.—This Michigan corporation, w hich on May
31, 1902, took over the extensive m achine and engine works
and foundries o f S. F. H oge & C o., located on the Detroit
R iver at D etroit, has let contracts fo r the erection o f a large
shipyard fo r the building o f modern steel vessels. The plant
w ill occupv a tract o f 85 acres fronting on the river and will
include a floating dry-dock, capable o f d ock in g the largest
ships on the lakes and fou r ship-building berths 600 feet in
length. The plant is expected to be in operation by July 15,
1903. The com pany’s capital stook issued and paid in is
$1,500,000, all com m on and in shares o f $10 each. A t the
time o f incorporation the stockholders authorized a bond
issue o f $500,000. These bonds, how ever, are sim ply treas
ury property and w ill be held to take care o f future im 
provements ; none o f the bonds has been sold and none p rob
ably w ill be for a lon g time. A ntonio C. Pessano is P resi
dent and General Manager ; G eorge H. Russel, V ice-P resi
dent ; John R. Russel, Secretary-Treasurer.
Greene C onsolidated C opper Co.—Dividends Q uarterly.—
Dividends w ill hereafter be paid quarterly.
The fourth
dividend, 2 p. c. (m onthly), was paid F eb. 2.— V. 75, p. 1034.
In te rn a tio n a l F ire E ngine Co.—D irector Resigns.—W .
G. M cA doo has resigned from the board o f directors.—V . 73,
р. 141.
In tern a tion a l P o w e r Co.— C orrection .—In our issue of
Feb. 7, referring to the decision o f the A ppellate Division
sustaining the attachm ent issued in the action brought by
John F. P lum m er against the International P ow er Co., w e
said: “ The original $3,000,000 suit was throw n out o f co u rt.”
This statement was incorrect, our inform ant having appar
ently confounded the voluntary reduction in the am ount o f
property attached with the idea o f another suit. Dos Passos
Brothers, counsel for Mr. Plum m er, say:
No suit ever brought by Mr. Plummer against the International
Power Oo. was thrown out of court. No $3,000,000 suit was ever be
gun by him. His attachment, which has been sustained, was brought
upon a claim for $1,000,000 only. The Sheriff, under the attachment,
levied upon property far in exoess of that value; how muoh In exoess
we do not know; It may have been $3,000,000 or muoh less. We, as
M r . Plummer’s attorneys, consented to the release from the attach
ment of all property In exoess of Mr. Plummer’ s claim.—V. 76, p. 333.

K irby L um ber Co.—Frisco P arties In terested .—See St.
Louis & San F rancisco R R . under “ R ailroad s” above.—V .
74, p. 330.
L ackaw anna Steel Co.—Bonds.—The com pany has sold
to Speyer & Co. and Kean, Van Cortlandt & Co. $15,000,000
first mortgage 5 p. c. convertible bonds, part o f an author
ized issue o f $20,000,000. The com pany has outstanding $35,000,000 o f com m on stock, o f w hich $15,000,000 was sold at par
to the shareholders in February, 1902, and is as yet only 60 p .
с. paid. The com pany’s total capacity will be not less than
1,250.000 tons o f finished p rodu ct yearly (see V . 74, p. 429).
The shareholders w ill have the option o f subscribing to the
new bonds. The Lackawanna Iron & Steel Co. (the prede
cessor com pany) in 1896 issued $1,800,000 m ortgage 5 p. c.
30-year bonds, Farmers’ Loan & Trust Co., trustee, but
these bonds, it is stated, cover only a piece o f property in
Pennsylvania. The first furnace fire at the B uffalo plant
was started Feb. 11.— V. 76, p. 161.
M an ufactu rers’ L ig h t & Heat Co., P ittsb u rg h , P a .—P ur chase—New P ipe L in e—E arnings.—A t the annual m eeting on
Jan.26 it was announced that the com pany has purchased
the holdings o f the F t. P itt Nat. Gas Co. (V. 70, p .7 4 2 ),
including the systems at East Liverpool and Steubenville

386

TH E

C H R O N IC LE

in the O h io V alley, haviD g 3,000 cu stom ers. It w as also an
n ou n ced that th e com p a n y w ill bu ild a 60-m ile pipe line o f 20in ch pipe fro m W e st V irg in ia to P ittsb u rg , w ith tw o 20 m ile
feeders* T h e tw o p rin cip a l u n d erly in g com pan ies, the old
M an ufactu rers’ and the T r i State, earned d u rin g the year
ov er 11,492,000, an increase o f m ore tban $477,000. The
ca p ita l stock issue is $4,937,600. T h e surplus w as increased
b y ab ou t $177,000, w h ile o p e ra tin g expenses in creased leas
than $29,000. T he co m p a n y n o w has 25,000 d om estic c o n 
sum ers, an increase o f 60 per c e n t.— V . 75, p. 1257.
M a ry la n d T e le p h o n e & T e le g r a p h C o.— New D irecto rs,
E tc .— A syn d icate represented b y the Central T ru st C o. o f
B altim ore recen tly pu rchased the en tire cap ital ($1,000,000)
stock and, it is said, proposes to issue sufficient bonds to p ro 
v id e fo r extensions and the liq u id a tion o f th e entire floatin g
debt. T h e present bonded d eb t consists o f $1,000,000 5 per
cen t m ortgage bonds. It is u n d erstood in B a ltim ore that
th ere w ill sh ortly be issued $500,000 each o f n ew bonds and
stock . On F eb. 9 the fo llo w in g ch a n ges w ere m ade in the
board o f d irectors:
Elected—H. A. Parr, C. I. T. Gonld. Jas. Bond, John Waters, David
E. Evans, John T. Stone, George R. Webb, Robert Ramsay, Frank A.
Furst, Charles T. W estcott and Frank H. Galloway. Messrs. Gould,
Ramsay, Fnrst and Calloway are new directors.
Retired—Stanley Baker. Seymour Mandelbaum, E. H. Bouton, Wil
liam L. Marbury and J. William Middendorf.

S u its.— A suit w as recen tly b ro u g h t b y the co m p a n y ’s su b
scribers t o p reven t it fro m in crea sin g its rates fo r telep h on e
service fr o m $48 to $72 a year fo r business telephones, u n 
lim ited service, and fr o m $36 to $60 fo r residence in stru 
m ents. T h e com p a n y cla im s that the old rates are n ot r e 
m unerative and that th e co n tr a c t w ith th e c ity is n o longpr
b in d in g since n ot ap p ly in g to th e h igh -gra d e in stru m en ts
n ow in use. T h e com p a n y is said to h a ve a b o u t 8,000 tele
phones u nd er ren ta l.— V . 70, p. 884.
M assa ch u setts d a s C o m p a n ie s.— P u rch a se.— See B ay State
G as Co. ab ov e; also see N ew ton & W a tertow n G as Co.
b e lo w .— V . 76, p. 334, 161.
M a n ch ester (N . f l . ) M ills Co .— P referred S tock .— T h e N ew
H am pshire L egislatu re, h a vin g given the necessary a u th o r
ity , th e d irectors stron gly u rg e the issue o f $2,000,000 6 p. c.
cu m u la tiv e preferred stock at par to the present shareholders,
share fo r share, a p ortion o f the proceed s to be used in the re
equ ipm en t o f the w orsted p la n t, the b a la n ce to retire floatin g
debt. A circu la r says in p a rt:
The normal product o f the com pany is in exoees o f $6,500,000, and
its average floating debt for the past three years has been upwards o f
$3,00o.OuO During the past five years the average net profits yearly,
after the payment o f interest, taxes and expenses, have been $209,326; the Issue of the proposed new capital would result in an average
yearly saving in interest o f at least $75,000; total $284,326, or more
than 7 p. c. upon the entire proposed capital o f $4,o00,000. During
the five years the outlay for new construction and new machinery has
been $1,114,265, and for repairs over $850,000. Probably 75 p. o. of
the proposed new capital w ill be used to retire the floating debt.—V.
76, p. 215.

M e x ic a n L ig h t & Power Co., L im ite d .— Neto E n terp rise.
— This com p a n y has been in co rp o ra te d u n d er “ the C o m 
panies A c t , 1902,” Canada, w ith $12,000,000 au th orized cap
ital stock , o f w h ich issued, “ fu lly p a id ,” $7,500,000; a u th or
ized bon d issue, 5 per cents, $12,000,000, o f w h ich n ow
issued, $5,000,000. T he co m p a n y w ill p roceed at o n ce to
develop 40,000 h orse-p ow er in the S ierra M adre M ountains
and tran sm it the sam e b y e le ctricity to th e c it y o f M exico, a
distance o f 95 m iles, and, b y b ra n ch 26 m iles lon g , to the
c ity o f P ach u ca. T he C ity o f M e x ico has h e re to fo re been
w ith o u t electricity fr o m w a ter-p ow er plants, o w in g to
its b ein g alm ost en tirely su rrou nded b y m ou n tain s in w h ich
n ot a single w ater fa ll o f an y size is to be fou n d . T h e
prosp ectu s says:
The oompany was formed for the purpose of acquiring the property
and franchises of the Boolete de Neoaxa, in connection with the water
power on the Neoaxa, Tenango and Catepuxtla rivers, in the State of
Pueblo, M exico. The federal franchise oovers in addition the right to
extend the company’ s transmission lines to any towns in M exico, and
oonfers all necessary powers o f expropriation, etc. The water p ow 
ers acquired are 88 Ja miles in a direct line from the City of M exico.
The transmission lines w ill be 95 miles long, with a branch to the
City o f Paohuca, 26 miles in length. The first installation (covered
by the sale of the first $5,000,000 bonds) will inolude the diversion of
the waters of the i'onango River into the Neoaxa by an open cut and
tunnel; the construction of a storage dam on the Necaxa River; a
small dam lower dow n to form a regulating reservoir; a tunnel and
four lines of 46-inoh feeders to the power station; a pow er station
containing hydraulic and eleotric machinery for the generation of
40,000 horse power; transmission lines to the City o f M exloo and the
City o f Paohuca; and sub-stations for the transformation and deliv
ery o f the current in M exico and Paohuca. The static head in the first
installation w ill be 1,253 feet.
The second installation w ill utilize a further fall o f 1,220 feet, and
w ill be praotioally a duplicate o f the first, but it w ill cost 25 p. o.
less, and many of the items provided with the first installation need
not be duplicated. It is Intended to provide for the cost of the seo
ond installation by the issue of further bonds, not exceeding $3,500.OOo. The remaining bonds [$3,500,000] can only be issued for the
acquisition o i additional property, and under the usual safeguards.
The field for the sale of light and power is more than usually prom 
ising, owing to the fact that coal is and always must be expensive. The
minimum price may be placed at $8 50 per ton. The population of the
City of M exico is between 350,000 and 400,000, ana there are numer
ous towns and villages adjaoent to it, and to the transmission line,
whioh can be served. The gross earning, pow er of the first instal
lation is estimated (in gold) at $912,000; net, $710,000; interest on
bonds, $250,000; surplus, $460,000.
D irectors—James Ross, President Dominion Iron & Steel Co., Presi
dent; J. H. Plummer, Toronto, and F. 8. Pearson, New York, VicePresidents; G e o . A.Drummond,Vice-President Bank o f Montreal; F.L.
Wanklyn, General Manager Montreal Street Ry. Co.; E. S. Clouston,
General Manager Bank of Montreal; E. R. Wood, Toronto. Main
office, Montreal.
Trustee for bondholders and transfer agents, the National Trust C o .,
Limited, Montreal and Toronto.

[V ol . L X X V I.

A p p lica tion s fo r the b oa d s and the sto ck are bein g re ce iv e d
b y E. M ackay E dga r & C o ., M ontreal, P . Q.
M in n e a p o lis (M in n .) G e n e ra l E le c t r ic C o.—B ond s Offered
— S ta tu s.— A circu la r issued by L ee, H iggin son & C o., w h o
are offerin g a b lo ck o f the m o rtg a g e 5 per cen t g o ld bonds,
dated Jan. 2, 1899, and du e Jan 2, 1929, (b u t su b je ct to ca ll
a fter th irty days’ n o tic e at 105 and in te re st), says in p art:
Capital stock, preferred 6 p. o., $750,000; common, $1,500,000.
first mortgage 6s, due 1903-1908 ($25,000 drawn yearly), $765,000;
general mortgage 5s, due Jan. 2,1 929 , $1,235,000. Of the above 5 p.
o. bonds $227,000 have recently been Issued for extensions and im
provements, and are all that can be issned under the mortgage except
for the retirement o f the 6s. The company Is the only one engaged in
eleotrio lighting in the City o f Minneapolis, and it operates under
liberal franchises extending beyond the life o f the 5 p. o. bonds. These
bonds are seonred by a first mortgage on new and valuable property,
including power house, real estate and oonduits. In 1908, when the
last of the 6 p. o. bonds mature, the 5s w ill beoome a first mortgage on
the entire property. The oompany is earning w ell over double its in
terest oharges. About half o f the com pany’s pow er is derived from
water. See V. 72, p. 244, V. 68, p. 824; also last week’s C h ronicle ,
V. 76, p. 334.

M o n ro e (L a .) E le c t r ic L ig h t & W a te r
T his com p a n y w as recen tly bid in at
W . E. H aw k s, trustee and agen t o f
bon dholders, fo r the sum o f $75,500.— V .

W o rk s Co.— S old.—
fo reclosu re sale by
the first m ortgage
75, p. 1257.

N a tio n a l B a r r e l & P a c k a g e C o .—See A m erica n Barrel &
P ack age C orporation a b o v e .— V . 75, p. 613.
N ew ton & W a te r to w n (M a ss.) Gas C o.—Sale o f S tock.—
T he d irectors last w eek v oted to a ccep t an offer o f $30J per
$100 share, cash, fo r 51 p. c. o f the $250,000 stock , d iv i
dends on w h ioh have been at the rate o f 8 p. c. per annum .
T he m in ority shareholders w ill be a llow ed the sam e term s.
The purchase is supposed to be in the in terest o f the M assa
chusetts G as C om panies.
N orth A m e r ic a n C o.— F ir s t D iv id en d .— The board o f d i
rectors on W ed n esd ay d eclared a d iv id en d o f 4 per cen t, p a y 
able q u a rterly on the first days o f M arch, J a n e, Septem ber
and D ecem ber, 1903, to all stock h old ers o f record on the 20th
day o f each p reced in g m on th . “ The d ividen d thus declared
is derived solely fr o m the in terest and d iv iden d s received by
the com p a n y fro m its perm anent in vestm ents, irresp ective
o f th e earnings d erived fro m its gen eral operation and b u s i
ness.” — V. 76, p. 106.
P a g e W o v e n -W ire F e n ce C o.— E a rn in g s.— The com p a n y ’s
total fen ce sales in 1902 are stated as $2,105,531, against
$1,532,679 in 1901; tota l orders fo r fen ce, 5,402,552 rods,
against 4,130,235 rods in 1901.— V . 75, p. 1090.
P itt s b u r g h C oa l C o.— E a rn in g s.— T he results fo r th e ca l
endar years 1901 and 1902 com p a re as f o l lo w s :
Calendar
Profits
Reserve for
Interest
7 per cent on
Balance.
year.
on coal.
depreciation, on bonds.
pref. stock.
surplus.
1902.........$5,753,913 $1,047,326 $348,063 $2,079,034 $2,279,440
1901........ 4,272,209
1,172,671 ..............
2,078,865
1,020,673
- V . 76, p. 334, 269.

Q u eens C ou n ty W a te r C o.— New S tock .— T his com p a n y
w h ich furnishes R o ck a w a y B each, F a r R o ck a w a y , Cedarhurst, L a w ren ce, e tc., fr o m its pu m p in g station at V a lle y
8tream , increased its ca p ita l stock in D ecem ber last fro m
$500,600 to $550,000, to p rov id e fo r the extension o f its m ains.
In 1896 a m ortga g e w as m a d e to the G u aran ty T ru st C o., as
trustee, to secure $500,000 o f 5 p. c. g o ld bonds due M arch 1,
1921, b u t s u b je c t to c a ll at any tim e at 110. F ran k lin L o rd is
P resident.
R e p u b lic I r o n & S te e l C o.— P urch ase.— T he com p a n y c o n 
firms the rep ort th at it has purchased th e cap ital stock o f
the W ills M in in g C o., w h ich operates several g o o d iron ore
properties in the M esaba reg ion o f M innesota. T his pu r
chase is a d d ition a l to those referred to in the recen t printed
re p o rt.— V. 76, p. 330.
R o c h e s te r (N . T .) L ig h t & P o w e r C o.—N&w C om p a n y.—
This com p a n y w as in corp ora ted at A lb a n y ea rly last m on th ,
w ith $500,000 a u th orized c a p ita l sto ck in $100 shares, and on
Jan, 24 filed a certifica te o f'm e r g e r o f th e C entral L ig h t &
P o w e r C o., th e o n ly co m p a n y haviDg an e le ctric lig h t and
pow er fra n ch ise in R o ch e ste r besides th e R och ester G as &
E le c tr ic C o. T he co n tro l o f the C entral L ig h t & P o w e r Co.
was pu rchased in D ecem b er last fro m lo c a l capitalists by
J. Craiz H avem eyer, 80 B road S t., this c ity , w h o org a n ized
the n ew com p a n y . T o p ro v id e fo r the exten sive d evelopm en t
w ork proposed, an issue o f first m ortga g e 5 per cen t $1,000
g o ld bonds w ill be m ade. T hese bonds are dated F eb ., 1903,
and are due in 1953, b n t are su b je c t to ca ll fo r p aym en t on
interest dates (F e b . and A u g .) at 110; the L in coln T rust Co.
is m ortga g e trustee. T h e m ortga g e is lim ited to $500,000;
there are n o p rior liens. T he co m p a n y is n o w op eratin g
2,000 in can descen t and 50 a rc lights. H en ry R . W ilson is
P residen t and M r. H a vem eyer S ecretary and Treasurer.
R om e (N . Y .) Gas, E le c t r ic L ig h t & P o w e r C o.— B onds
Offered.— H u n ter, P aris & D o u g h te n o f P hiladelph ia recen tly
offered at 1 0 1 and interest $55,000 first m ortga g e five per
cen t $1,000 g o ld bon ds, dated June 1, 1901, and due Ju n e 1,
1931; U n ion T ru st C o., trustee, D e tro it, M ich .; interest pay
able J a n e 1 and D ec. 1. C apital stock , $400,000, au th orized
b on d issue, $400,000, n ow ou tstan d in g, $355,000, reserved fo r
fu tu re im p rovem en ts, $45,000.
President James T. Lynn says: On June 1, 1901, the com pany pur
chased the plant,franchises,[etc., o f the Rome Gas LightCo., organized
In the year 1852 with a perpetual gas franchise. For the year ending
Deo. 31 ,190 2, the gross income from gas was $28,343; eleotrloity,

i

F e b r u a r y 14, 1903.]

THE

CHRONICLE.

$35 324: miscellaneous, $410; total, $64,077; net earnings, $32,365;
bond interest, $15,000; net proiits, 1902, $17,365. The present capac
ity of the gas works is 75.000.000 oublo feet per year; sales for 1902
were 22,000,000 cublo feet, the average Increase for the past seven
months being 58 per cent; gas mains, 16 miles. The power station is
eaulpped with the most up-to-date machinery and applianoes. The
company has a contract with the City of Rome for 208 enclosed arc
street lamps at $118 15 each per year, all night schedule. On Feb. 4,
1902, the company made a six-year oontraot for lighting the city.—
V. 72, p. 1088,839.
Sales o f the stock have been made in P ittsburgh at $30 per
($25) share.— V. 75, p. 189.
R o ta ry R in g S p in n in g Co.—See A m erican R ota ry Spin
ning Co. ab ov e.—V . 72, p. 483.
S a gin aw C ity (M ic h .) Gas Co . —B onds O ffe r e d — F irst
m ortgage 5 per cen t g old bonds to the am ount o f $100,000
are offered at 101 and accru ed interest b y K in g , H od en p yl &
Co. o f N ew Y o rk and C hicago. The M ichigan Trust Co. o f
Grand R apids is trustee. The capital stock is $400,000. A u 
thorized bonded debt, $1,000,000; reserved fo r fu tu re exten
sions, $300,000; present issue, $700,000. The bonds are dated
M ay 1, 1901, and are due May 1, 1916, but are su b ject to call
at 105 and interest upon six w eek ’s notice. T h e gross earn
ings fo r the year ending D ec. 31, 1902, are reported as $157,067; net, $63,349; less interest charges, $35,000; leaving a
surplus o f $28,349. The com pan y was a consolidation May
1, 1901, o f the East Saginaw Gas Co. and the Saginaw (W est
Side) Gas C o .; it serves a population o f about 43,000. The
output o f gas fo r the year 1902 shows an increase over that
o f 1901 o f 48 per cent. (C om pare Y . 72, p. 876.)—V . 74, p.
1143.
San J oa q u in P o w e r Co., F resn o, C a l.—B onds.— The m o r t
gage to the U nion T rust Co. o f San F rancisco, as trustee, se
cures $800,000 o f 5 p. c. $1,000 gold bonds, dated D ec. 1,1902,
and due Dec. 1, 1942, w ith ou t option o f earlier redem ption,
interest payable June 1 and D ec. 1. A sinking fu n d o f
p. c. w ill begin in Jan ., 1908. The stock is $800,000, all
com m on, and all outstanding; par value o f shares, $100.
President. W . G. K u ck h o ff; Secretary and Treasurer, Otto
W e is s .- V . 76, p. 216.

387

President of the corporation. Besides Mr Fries the oommlttee, whose
unanimous vote Is necessary to approve the purchase of any mill. It is
said, consists of T. W. Platt, Huntsville. Ala.; 8. B. Tanner, Henrietta,
N. C.; John W. F r i e s , Winston-Salem, N. C.; C. G. Latta, Raleigh, N.
C.. and A . W. Haywood. Haw River. N. O.
It is understood that the terms accepted by most of the mills to be
purchased by the new oompany were as follows: Sixty-three per cent
of the agreed valuation In preferred stock, 20 per cent In common
stock and 40 p. o. In 6 p. o. bonds; or, at their option, 40 per oent In
cash, 10 per oent in common stook and 63 p. o. In preferred stock.
S ta n d a rd M illin g C o.— C ontrolled C om pany's R eceivers
D isch arged .—V ice-C hancellor P itney in Jersey C ity on M on
day discharged W illia m B rookfield and Charles E. K im ball
as receivers o f the H ecker-Jones-Jew ell M illing C om pany of
B rooklyn, N. Y . T h e receivers report that the business for
tw enty-seven m onths show s a net profit o f $1,023,341, the
total sales bein g $17,824,912. T he assets are $3,858,711; lia 
bilities, $2,988,627.— V. 75, p. 1252.
S ta n d a rd O il Co.— P u rch a se— This com pan y has p u r
chased a large part o f the $1,000,000 stock o f the P eople’ s
N atural Gas Co. o f P ittsburgh on a basis o f $200 per
$50 share. President P ew , o f the P eople’s C o., is q u oted as
saying :
Our company has 14,000 consumers In Pittsburgh and Allegheny
and 180,000 acres of land In Westmoreland, Armstrong, Jefferson and
Clarion counties, In Pennsylvania, and Wetzel County, West Vir
ginia, although no lines have ever been laid to the latter. A new
2 0 -lnoh line will be laid to West Virginia by July 1 and Pittsburgh
will be given gas for many years.—V. 75, p. 1358.
S ta n d a rd S teel Car Co.— New D irecto rs.— The board o f
directors has been increased fro m seven to eleven b y th e
election o f the fo llo w in g n ew d irectors: R . B. M ellon. E. H .
Jennings, J. B. B rady, L . G . W ood s and H enry R . R ea .
President Hansen reports that the B utler plant is operating
to its fu ll capacity, and that the ou tlook is exception ally
bright. C ontracts aggregatin g $15,000,000 are said to be on
the books.
B onds.— The shareholders w ill vote A p ril 15 on issuing
$2,000,000 bon ds.— V . 76, p. 107.

T ennessee T a lle y , I r o n & R R .—Sale.— W e have co n firm a 
tion o f the report that this com p an y (stock SI,000,000) has
S eacoast (S a r d in e ) C an n in g Co.— To Succeed Seacoast sold 71,000 acres o f iron and tim ber lands in W a yn e C ounty,
P ockin g C o.—' his com pany was in corporated under the laws T enn., to P ittsburgh parties and others, in clu d in g P ro f.
T
o f N ew Jersey on Monday w ith $2,000,000 authorized capital M itchell and M r. R ankin. The price obtained was $216,000
stock , o f w hich $1,000,000 is 6 per cen t cu m u lative preferred cash, o f w h ich $22,000 dow n and the rem ainder payable in
stock; present issues to be $1,000,000 each o f com m on and three instalm ents—M arch 14, M ay 14 and Ju ly 14. E xperts
preferred; par value o f shares, $100; no bonds. The c o m  report that the property contains “ not less than 30,000,000
pany w ill succeed the Seacoast P a ck in g Co.
(See V . 76, tons o f iron ore.” Analyses sh ow : M etallic iron , 46 50 to
55 40 p. c .; *53 to '80 p. c. o f phosphorous, and insolubles, 4 6
p. 216). The directors are:
Franois H. Leggett, President; Franols P. MoOoll (President of the to 18’ 20 p. c .— V . 76, p. 332.
American Key Can Co.), Vice-President; James E. Nlohols, of Austin.
T o r o n to & N ia ga ra P o w e r Co .— New E n terp rise.— This
Nichols & Co.; P. A. Valentine, Treasurer of Armour & Co.; Edward
8. Sayre, of R. O. Williams & Co ; J. Augustus Barnard and Bayard com pany announces its intention to apply to the Parliam ent
Dominick Jr. of Dominick & Dominick; Theo. F. Whltmarsh, Treasurer o f Canada at its next session fo r an A c t g iv in g pow er to in 
of Francis D. Leggett & Co.; W. F. Burrows, of Libby. McNeill & Libby
of Chicago; George Burham Jr., of Portland, Me., Frank Linsey and crease the capital stock to $6,000,000 and the bond issue to
$5,000,000. H ubert H. M acrae, 1 T o ro n to S t., T oron to, repre
Edward 8. Hosmer.
W . B. D udley is Secretary and E dw ard S. H osm er o f 32 sents the com pany, w h ich claim s to be a purely Canadian
Nassau St., Counsel. Besides the p roperty o f the Seacoast enterprise. The plan is to install a plant sim ilar to that p ro
P acking C o., ow n ed in fee, the new com pan y ow ns all ofjth e jected by the Ontario P ow er Co. (V . 76, p. 106.) The Queen
stock o f the A m erican Co. o f Maine. T he com pan y, there V ictoria Park Com m ission recently approved the gran tin g o f
fore, possesses “ all desirable patents, a large num ber o f fa c  a franchise to the T oron to & N iagara P ow er C o., the On
tories and m achines and steam boats quite sufficient fo r its tario Legislature to confirm this action.
The “ B uffalo C om m ercial” says:
business.”
Eleotriclty will betaken to Toronto by cable, and at first only about
Seacoast P a c k in g Co.—See Seacoast Canning Co. above. 20,000 horse-power will be transmitted. This, however, will be In
creased to 125,000 horse-power as the necessity presents Itself. The
—V . 76, p. 216.
total cost of the works Is estimated at $5.000,OoO. The company will
S h aw in igan W a ter & P o w e r Co.—In O p e r a tio n — On Feb. put np a bond of $25,000. whloh will be forfeited In oase of dam
7 this com pany began transm itting som e 8,000 electric horse age being done to Niagara Falls Park.
power over three alum inum cables from its n ew p ow er plant
U n d erw ood ( “ T I s ib le ” ) T y p e w r ite r Co.— Business. — A
at Shawinigan F alls to M ontreal, a distance o f 84 miles. See director is quoted as saying:
article in “ N ew Y ork E vening P ost” o f F eb. 7.— V . 78, p.
We Intend to triple the present oapaolty of our plants. Our ma
1318. 1211.
chine is the third largest producing and selling machine In the world,
It is exclusively used In the. United States Navy (Department. The
Sheffield C om pany.— New C o rp o ra tio n .— T his com pany oompany clatms the exclusive ownership of substantial features for
has been incorporated under the law s o f N ew Jersey w ith the visible typewriter machines. In 1897 we made our first commer
cial machine;
output was 286. In 1898 it was
$500,000 authorized capital (o f w h ich $425,000 issued), to a c in 1900 7.946;our1901 10,354, and In 1902 13,700.l,582,ln 1899 5,694,
in
Now we are mak
quire the w ater-w orks o f Sheffield, the electric lig h t fra n  ing machines at the rate of 18,000 per annum,—V. 76, p. 289.
chise and franchises fo r trolley lines to T uscum bia and
U n ited B o x B o a rd Co.— See A m erican S traw board Co.
Florence; also 5,500 tow n lots, form erly held by the Sheffield
Land & Im provem ent Co. A m on g those interested are George under “ Annual R eports.” — V . 76, p. 334.
Parsons o f N ew Y ork , his broth er, Charles Parsons, and
U nited F r u it Co.— L isted .—The N ew Y o rk Stock E x 
W . H. G oad by, W . E. Strong and R ich ard M ortim er. The change has listed $12,369,500 capital stock and $4,000,000
Sloss Sheffield Steel & Iron Co. has no interest in the enter con vertible 5 p. c. con p on bonds o f 1911.— V . 75, p. 1199,1207.
prise. There is n o bond issue; par value o f shares $100.
W a te rb a ry & Q,o.—In co rp o ra ted .—Tins com p an y has been
The com pany has no trolley lines in operation. The P resi
incorporated in N ew Jersey to m an u factu re ropes; au th or
dent is H enry Parsons.
ized capital stock $1,250,000. In corp orators F rank R . Series,
S onthern T e x tile Co.— C onsolid ation .—T his com p a n y has Charles A . Green and C. F rederick Smith.
been incorporated in New Jersey w ith $14,000,000 o f author
ized capital stock , o f w h ich $7,000,000 is 7 p. c. cu m u lative
preferred, to effect an am algam ation o r con solidation o f te x 
—The forty-third annual statem ent o f the W ashington L ife
tile factories in the Southern States. N o dividen d exceeding Insurance C om pany, w h ich appears in another colum n,
4 per cent shall be paid on the com m on stock u ntil a surplus show s a prosperous state o f affairs, n otably in the m aterial
fund has been set aside equal to the
per cent o f the o u t increase o f assets, o f new business aod business in force, and
standing preferred stock. T he incorporators are all e m  o f surplus. In 1902, as epitom ized in this condensed state
ployes o f the Corporation Trust C o., N o . 15 E xchan ge P lace, m ent, the com pany paid in death claim s, endow m ents and
Jersey City. It is noticeable that the authorized capital dividends, $2,046,708. F rom date o f organization to D ec. 81,
stock is less than one-third o f the am ount talked o f when 1902, the com pany has paid to policy-holders $39,774,017,
the plan was first discussed in the daily papers.
w hich latter sum, together w ith invested funds held e x c lu 
The “ Journal o f C om m erce and C om m ercial B ulletin ” sively fo r the protection o f its policies, aggregates $56,358,says in substance:
862.
According to the statement (of David Bennett King, the oonnael for
— On page x iv w ill be found an advertisem ent fo r a eafejdethe trust, the oompany will take over sixty miles. The aotlve pro
moter of the new projeot Is H. E. Fries, who. It Is believed, will be posit vanlt containing fo u r to six hundred boxes.

388

THE
m

CHRONICLE

[V ol. LXXVI.
C O T T O N .

c s .

Th r Mo vem en t

C O M M E R C I A L

E P I T O M E .

F r i d a y N i g h t , Feb. 13, 1908.

The reports during the week relative to the state o f trade
have continued to be o f a highly favorable character. The
buying by jobbers and retailers against their prospective re
quirements has been on a liberal scale. There are com par
atively few lines to be found w here m anufacturers and
dealers have not been meeting with a good run o f new
orders, and they also have been well engaged in supply
in g tbe wants of consumers on their outstanding con
tracts. In the pig iron market, how ever, buyers continue
to show a hesitancy in placing new orders, hoping for some
reaction in prices. The feature o f the speculative m arkel
has been a sharp advance in cotton values, based on the re
ports o f active business in the cotton goods trade and liberal
buying o f cotton by spinners at advancing prices. Corn
values have been favorably influenced by the revival o f an
active export demand. W heat prices, however, have shown
a reactionary tendency under advices from Europe saying
that the present indications are that her requirements o f
A m erican wheat w ill not be as large as estimated earlier in
the season.
Lard on the spot has had only a small demand so far as new
business has been concerned, but there have been fair d e 
liveries on contracts, and the market has been steady. The
close was quiet at 10c. for prime W estern and {bSScgS-SOc.
for prim e City. Refined lard has been m oving freely on old
contracts, and prices have been w ell maintained, closing at
10.30c. for refined for the Continent. Speculation in lard fo r
future delivery has been moderately active, and prices have
advanced slightly on com paratively light receipts o f hogs.
The close was steady.
D A I L Y G L O B IN G P R I C E S O T L A U D P U T U B E 8 IN C H I C A G O .

Sat

February del’y_ 947J*
_
May del’y ............ 9-40
July del’ y............. 9-25

Sion

9-55
9-47i*
9-27i«

Tut*.

9-55
9-471*
9-25

Wed.

Thurt.

9521a
9-45 Holiday.
9-20

Fri.

9-55
9-471*
9-25

P ork has been quiet and easier, closing at $17 75@18 25 for
mess; $18 50 fo r fam ily and $19 50@21 50 for short clear,
Cut-meats have been firmly held, but the demand has been
limited to small job b in g orders, closing at 8J^c. for pickled
shoulders, l l @ l l j ^ c . fo r pickled hams and 8% @ 9}^c. fo r
pickled bellies, 14@10 lbs. average. Beef has been quiet but
steady at $9 50@10 50 fo r mess, $14@15 fo r packet, $l7@17 25
fo r fam ily and $24@24 50 fo r extra India mess in tcs. Tallow
has been quiet and easier, closing at 6 @ 6 ^ c . Stearines have
been firm but quiet at lOJ^c. fo r lard stearine and lOJ^c. for
oleo stearine. Cotton-seed oil has been m oderately active
and higher, closing at 4134@42c. for prim e yellow . Butter
has been in m oderate demand, and w ith limited supplies
prices have been firm at 19@26o. for creamery. Cheese has
been unchanged and firm at 11%@14}^ c . fo r State factory,
fu ll cream. Fresh eggs have been in good demand at low er
prices. The close was steady at 15c. for best W estern.
Brazil grades of coffee in fairly active demand and
firmer. Jobbers generally have reported a good distributing
trade, and large roasters have reported an active business in
package coffee. The close was firm at 5%o. for R io No. 7
and 6 ^ @ 7 c . for Santos No. 4. W est India growths have
been quiet and unsettled. East India growths have been
fairly active and steady. Increased speculative interest has
been shown in the market fo r contracts, there being m oder
ate buying for investm ent account, stimulated by reports o f
an im proved trade, decreasing reserve supplies and an ex 
pected fallin g off in the Brazil crop movement. The close
was higher on stronger foreign advices. Closing prices were:
F e b .................. 4 65o. June................ 4 90c. O c t ................ 5 25c.
March........ .
4-70o. J u ly ....______ 4-95o. Nov____...... 5 -2 5 0 .
May.................. 4-80o. Sept.. . . . . . . . . . . 5-15o. D eo __ . . . . . . . . 5-40o.

F r id a y N ig h t , February 13, 1903.
C r o p , as in d ica te d b y our telegram s

of the

from the South to -n ig h t, is g iv e n b e lo w , F or Hie week ending
this evening the to ta l re ce ip ts have reached 192,085 bales,
against 193,289 bales last w eek and 184,217 bales the previous
week, m aking the to ta l receip ts sin ce the 1st o f Sept., 1902,
6,213,592 bales, again st 6,059,142 bales fo r the same period of
1901-2, sh ow in g an increase sin ce Sep. 1, ’02. o f 154,450 bales.
M—eiptt at—

Mat.

Galveston,____
Bab. Pass, *o.
New Orleans...
Mobile_______
Pensacola, Ac.
Savannah......
Brunew’k.&c.
Charleston._
_
Pt. Royal, Ac
Wilmington....
Waeh’ton, Ac
Norfolk___. ...
N>p’t News, *o.
New Y ork ____
Boston.._____
Baltimore........
Philadel’a, Ac..

Mon.

Tut*.

Wed.

Thun.

7,791 8,617 14,099 10,212
........
......
......
. .. . ..
7,564 10,760 14,678 11,513
830
951
148
63
......
......
......
......
4,384 3,156 6,547 2.973
......
........
........
......
373
138
181
158
...
.. ....
.... .
......
400
287
517
178
.......
........
........
......
738 1,515 1,782
1,581
......
......
........
......
79
118
888
319
620
990
835 1,141
......
. .....
........
......
113
2
82

Fri.

Total

9,728 7,825 53,272
. . . . . . 13,846 13,846
4,648 6,730 55,888
1,413
155
3,560
. . . . . . 11,836 11,836
3,867 2,234 23,161
......
1,878
1,878
44
754
1,648
......
......
......
30
799
2,2X1
3
3
1,627 2,080
9,323
584
584
526
1,955
394
4,487
507
. . . . . . 3,186
3,186
50
247

Tot. this week 23,993 36,093 38,851 28,409 22,628 52,111 192,085

The follow in g shows the week’s total receipts, the total since
Sept. 1,1902, and the stocks to-night, compared w ith last year.
Receipts to
Feb. 13.

Galveston...
Sab. F., Ac.
New Orleans
M obile. . . . . .
P’eaoola,Ac.
Savannah...
tSr’wlck.Ac.
Charleston..
P.Royal.Ao
Wilmington.
Wash’n, Ac.
Norfolk.......
N’portN.,Ao
New Y ork...
B o ston ......
Baltimore. .
Phlladel.Ao.

1902-03.
Thit

Mince Mep.

week.

1,1902.

1901-02.
n i > Mince Sep.
»ettk. 1,1901.

58,272 1,775,861 40,911 1,697,093
13,846
426
94,218
45,206
55,888 1,773,507 49,435 1,756,586
3,560 182,648
1,976 140,945
11,836 131,343 13,426 172,854
23,161 1,097,809 12,712 975,362
1,878 108,223
1,423 117,589
1,648 201,189
5,598 236,379
221
1,468
2,211 301,858
8,692 252,145
3
387
375
9,323 408,165 11,695 375,459
584
18,708
2,683
20,448
1,955
25,195
2,351
91,900
4,487
52,322
3,793
89,465
3,186
24,675
408
63,084
1,048
247
17,275
22,784

Totals...... 192,085 6,213,592 156,577 6,059,142

Mtoek.

1903.

1902

214,282

133,397

362,267
24,240

347,253
30,866

115,500
14,179
20,179

58,690
8,824
16,923

9,644

12,042

29,008
286
141,306
52,000
6,310
4,262

44,864
116,699
53,000
7,420
4,379

993,463

833,357

m.
m
m

In order th a t com parison m a y be m ade w ith o th e r years,
we g ive b e lo w the tota ls at le a d in g p orts fo r six seasons,
Receipts at—

1903.

1902.

1901.

1900.

1899.

1898.

Galves’n.Ao.
New Orleans
Mobile.........
Savannah...
Ohaa’ton, Ac.
Wllm'ton, Ac
Norfolk. . . . .
N. News, Ao.
All others...

72,118
55,888
3,560
23,161
1,648
2.214
9,323
584
23,589

41,337
49,435
1,976
12,712
5,598
8,692
11,695
2,683
22,449

36,23C
44,189
615
18,254
787
2,311
5,112
579
17,558

43,994
60,160
5,173
40,008
8,521
6,098
13,220
1,202
16,208

23.064
20.993
2,338
7,926
2,177
340
4,673
491
10,148

36,163
69,743
5,263
21,177
5,321
3,594
8,295
728
34,849

tot. this wk.

192,085

156,577 125,640 194,579

72,150

185,183

since Sept 1 6213,592 6059,142 5640,740 5168,639 7052,764 7196,986

The exports for the w eek ending this evening reach a total
R aw sugars have been in m ore active demand and prices of 176,031 bales, o f which 48,528 were to Great Britain, 51,643
have advanced slightly, closing at 3 11-16c. fo r centrifugals to France and 75,860 to the rest o f the Continent. B elow
96-deg. test, and 3}^e. fo r m uscovado, 89 deg. test. Refined are the exports fo r the w eek and since Sept. 1, 1902.
sugar has been quiet and unsettled, closing at 4-65@4-85c. fo r
granulated. Teas have been in fair demand and firm. Spices
E xported to—
E xported to—
Masperti
have been quiet.
e v ic t
greci
from —
C on ti Petal
C on ti
fro r.ee
fro n ts
fe ta l.
Offerings o f K entucky tobacco, especially attractive
B rlt’n.
n en t. W eek. E rtte in .
n en t.
grades, have been lim ited, and they have had a ready sale at
firm prices. Seed-leaf tobacco has been in limited demand G a lveston ....... 16,413 27,616 10.203 54,132 669,402 265,346 436,303 1,270,051
16,630
Sab. Pass, A c.. .........
13,687 13,687
54,085
at unchanged prices. The sales reported have been princi New o r le a n e .. 2,584 24,127 25,136 61,847 600,966 202,738 490,577 69,015
1,354,870
pally o f small lots. The foreign grades o f tobacco have been M obile.............. .........
38,532
39,253
77.785
in fairly active demand and firm.
67,099
2,776
8,625 11,401
9,947
54,017 121,063
P e n e a e o la ....
Straits tin has been in fair demand and prices have ad Savannah........ 13,128 ........ ......... 13,128 159,154 47,377 565,030 771.587
vanced sharply in response to stronger foreign advices, clos a ra n tw to k . . . . .........
73,124
6,860
.........
.........
79,984
16,560
ing at 29-60@29-75c. Ingot copper has been in moderate de Char lea t o n .. . .........
.......
.........
72,237
87,797
........
.........
.........
Port R o y a l .... .........
mand and firmer, closing at 12,75@12,90c. fo r Lake. Lead
3,842 178,337 293,899
........
......... 114,820
has been unchanged and steady at 4,12J^c. Spelter has been W ilm in g to n ... .......
........
.........
11,984
11.928 11,385
35,297
firmer, closing at 5@5'05c. P ig iron has been firm but quiet N o r f o l k ........ .........
.........
.........
.........
6,803
966
500
N’ p ort N ., A c,. .........
7,268
at $88@25 for No. 1 Northern.
10,384 22,674 150,332 11,384 120,718 282.429
Refined petroleum has been firm, closing at 8’20c. in bbls., New Y o r k ....... 12,290
1,337
1,387
70.669
1,870
B o s to n ............
72,689
10'50c. in cases and 5-65c. in bulk. Naphtha has been u n  B altim ore.......
65,457
1,900
21,647
79,004
changed at 9-05c. Credit balances have been steady at $1 50. P h ilad elp h ia.. ........ ........ .........
23,525
1,800
24,826
Spirits turpentine has been firm but quiet at 66%@67c. San F ran., A c.. ....... ......... 7,825 7,825 17,374
111,291 128.665
Rosins have advanced, closing firm at $2 20 fo r com m on and
T o t a l............ 48,628 51,643 75,860 176,031 1,978,776 614,279 2,103,010 4,756,6M
good strained. W ool has been in moderate demand at un
187.120 2,87 5.C54590.075 1.874.958 4.840.986
T otal ia o i-0 2 „ 97.615 22.106
changed prices. Hops have been dull but steady.

CHRONICLE

ON SHIPBOARD, NOT CLEARED FOR—
Feb. 13 at—

Ger Other Coast
Orcat
B rita in Fr’ nce many. F or’gn wise.

L ea rn t e
ito ck .

Total.

F u t u r e s ,— H i g h e s t , l o w e s t a n d o l o s i n g p r ic e s a t N e w Y o r k .
O

C

53

284,532
146,968
87,050
10,129
16,149
18,008
132,656
81,681

Total 1903.. 70,373 23,898 50,213 51,232 20,574 216,290

777,173

Total 19 02 - 49,280 19,675 47,682 29,891 17,862 164,390
Total 1901.. 34,764 36,900 32,181 33,792 14,233 151,870

H

i

1 :i

!

:
■

i :
i

by the Revision Committee, at which grades other than
middling may b e delivered on oontraot, are as follow s,
F a ir............................. ...e . 1*30 on
Middling F a ir....... . . . . . . . 0*86 on
Strict Good Middling........ 0*62 on
Good Middling.......... ..........0*44 on
Strlot Low Middling.........0*14 off
Low M id d lin g .................. 0*38 off
Strlot Good O rdinary.......0*72 off
Good Ordinary..... .............. 1 0 0 off

.

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668,967
829,294

S p e c u la tio n in c o t t o n f o r fu t u r e d e liv e r y h a s b e e n a c t iv e
a n d p r ic e s h a v e a d v a n c e d s h a r p ly .
T h e m o v e m e n t o f th e
c r o p h a s b e e n l a r g e , th e a m o u n t o f c o t t o n “ in s ig h t ” f o r th e
w e e k b e in g m u c h iu e x c e s s o f a n y p r e v io u s w e e k ’s t o t a l fo r
th e c o r r e s p o n d in g p e r io d o f th e y e a r .
T h e h e a v y r e c e ip ts ,
h o w e v e r , h a v e a p p e a r e d t o h a v e n o in flu e n c e a s a m a r k e t
fa c to r .
S o u th e r n a d v ic e s h a v e r e p o r te d a n a c t iv e d e m a n d
fo r c o t t o n a t a d v a n c in g p r ic e s a n d th e tr a d e d e m a n d fo r
c o tto n g o o d s h a s c o n t in u e d to b e r e p o r te d a s e x c e ll e n t . T h e s e
t w o fe a t u r e s a re g iv e n p a r t ic u la r im p o r t a n c e b y t h e b u ll in 
te r e s t s , t h e y a r g u in g t h a t t h e y a ffo r d p o s itiv e e v id e n c e o f
th e la r g e c o n s u m p t io n o f c o t t o n , a n d t h a t a c r o p o f a t le a st
1 1 ,0 0 0 ,0 0 9 b a le s is n e e d e d t o m e e t r e q u ir e m e n ts .
A c tiv e
b u y in g o f M a r c h a n d M a y c o n t r a c t s b y a p r o m in e n t b u ll i n 
te r e s t a n d t h e a b s e n c e o f a g g r e s s iv e s e l lin g h a v e b e e n th e
fe a tu r e o f t h e t r a d in g , a n d c a r r ie d p r ic e s t o th e h ig h
p o in t o f th e se a so n .
T o -d a y th e r e w a s a n a c t iv e a n d h ig h e r
m a r k e t.
T h e o p e n in g w a s a t a f a i r l y s h a r p a d v a n c e in r e 
sp o n se to to a ris e in L iv e r p o o l, d u e , i t w a s s ta te d , to
b u y in g f o r C o n t i n e n t a l a c c o u n t .
D u r in g t h e d a y th e u p 
w a r d te n d e n c y to p r ic e s c o n t in u e d o n b u y i n g , p r in c ip a lly o f
M a y , b y th e le a d in g b u ll in te r e s t.
T h e c lo s e w a s s t e a d y a t a
n e t g a in in p r ic e s f o r th e d a y o f 8 @ 2 6 p o in ts .
C o t t o n o n th e
s p o t h a s a d v a n c e d , c lo s in g a t 9 '6 0 c . f o r m id d l in g u p la n d s .
T h e rates on and off middling, as established Nov, 20,1902,

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Good Middling Tinged ..o. Even
Strlot Good Mid. Tinged.. 0*30 on
Strlot Middling T in ged .... 0*06 ofi
Middling Tinged................. 0*12 ofi
Strlot Low Mid. T in ged ... 0*34 off
Middling Stained............... 0*50 ofi
Strlot Low Mid. Stained... 1*06 ofi
Low Middling S tain ed..... 1*50 ofi

Onthis basis the official prices for a few of t h e g r a d e s
the past week—Feb. 7 to Feb. 13—would be as follows,

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77,735
67,314
28,450
10,050
8,091
11,000
8,650
5,000

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New Orleans. 40,113 12,568 15,425 9,147
G alveston... . 11,402 11,330 16,405 21,885 7,292
18,750 7,900
7,800
Savannah....
100
9,950
Charleston ...
2,700
3,333
2,058
Mobile............
i ’,000 10,000
Norfolk..........
i ‘,800 1,350
6,000
New Y o r k 2,000
3,000
Other p o r ts .

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g w g a w £ 9 » 2 9 * 3 9 f t " 2 * 5 3 9 w ?
o * rt o * § ® g « ® g © ® g S ° g § ® g » <

OT

In addition to above exports, our telegrams to-night also
give us the following amounts o f ootton on shipboard, not
•leared, at the ports named, We add similar figures for
Hew York, whloh are prepared for our speolal use by Messrs,
Lambert * Barrows, Produce Exchange Building,

389

fin

THE

F ebruary 14, 1903.]

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The V isible supply of Cotton to-night, as made up by
cable and telegraph, is as follows, Foreign stocks, as well
as the afloat, are this week’s returns, and consequently all
foreign figures are brought down to Thursday evening,
But to make the total the complete figures for to-night
(Feb. 13), we add the item of exports from the United States,
for Including in it the exports of Friday only,

The quotations for middling upland at New York o»
Feb. 13 for each of the past 82 years have been as follows.

1903.
1902.
1901.
1900.
Stook at L iverpool.— bales. 653,0001,054,000 736,000 645,000
Stock at London_____ .......8,000
5,000
11,000
4,000
Total Great Britain stock.' 661,000 :1,069,000 747,000 649,000
.
Stook at Hamburg. ________
8,000
9,000
15,000
19,000
Stook at Brem en................... . , 208,000 210,000 216,000 227,000
Stook at Amsterdam___
1,000
2,000
Stook at Botrterdam.....
200
300
Stook at A n tw erp ..........
3,000
5,000
4,000
5,000
Stook at H a v r e ....____
, 174,000 212,000 152,000 238,000
Stook at Marseilles..... ..........—
3,000
2,000
3,000
4,000
Stook at B arcelona............... .
46.000
86,000
57,000
80,000
Stook at G e n o a .............. ....
37,000
38,000
22,000
44,000
Stook at Trieste.......................
2,000
2,000
5,000
3,000
Total Continental stocks. . 481,000 565,000 474,200 622,300
Total European stooks
1,142,000 1,624,000 1,221,200 1.271,300
India ootton afloat lo r Europe 181,000 ' 75,000 114.000
21,000
A m er.oottonafloatforE ’rope. 592,000 564,000 421.000 481.000
®8TPt, Brazil, Ac., aflt.forE ’pe
69,000
59,000
54,000
32,000
Stock in Alexandria, E g y p t... 183,000 247,000 186.000 192.000
Stook In Bombay, India.......... 473,000 430,000 407,000 358.000
Stook In United States p orts.. 993,463 833,357 981,164 1,120,983
8took in U.B. Interior tow ns..
407,323 593,472 713,226 594,632
United States exports to-day.
45,218 42,294
19,253
25,986
Total Visible snpply . . . — 4,086,004 4,468,123 4,094,343 4,118,901
O ltke above, totals o l American and other descriptions are as loilow s:

1 8 7 9 ....0 . 98s
1878........ 10i31#
1877........ 12 V
q
1876........ 13
1875........ 1589
1874........ 161*
1873........ 2O70
1872.........2278

Liverpool stock ..—____ bales. 581.000 958.000
649,000 529,000
Continental stooks........... .
456.000 533,000
432,000 591,000
421,000 481,000
American afloat for Eu rope... 592.000 564,000
United States stook-------. . . . . . 993,463
833,357 981,104 1,120,983
593,472 713,226 594,632
United States Interior stooks. 407,323
45.218
42,294
19,253
25,986
United States exports to-day.
Total American............
.8,075,004 3,524,123 3,215,643 3,342,601

UPLANDS.

M o ® Tuttta

S a t.

TTlh,

Good O r d in a r y ...-— _____ . . . 8*25 8*35 8*50 8*50
Low M iddling..—____ _____ ... 8-87 8 97 9*12 9*12
Middling....................... . . . . . . . . . 9'25 9*35 9*50 9*50
Good Middling........................... a-69 9*79 9*94 »*94
Middling Fair.......... .............. 10 21 10 31 1 0 46 1 0 46

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8 50
Good O rd in a ry ....— . . . . . . —
Low M iddling..—. . . —
.... 9T 2
9*50
M iddling................... .......
9*94
Good Middling.......— . . . . . . —
10'46
Middling Fair.................. .

8*60 8*75 8 75
9*22 9*37 9 37
9 '6 0 9-75 9 7 5
1 0 04 10-19 10*19
10-56 10-71 10 71

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8-85
9-47
9'85
10*29
10-81

S a t.

M on T « e s W ed

GULF.

STAINED.
Low Middling______ —______
M iddling..........
..................
Strlot Low Middling Tinged...
Good Middling Tinged.............

1903—..e .
1902........
1901........
1900........
1899........
1898........
1897........
1896........

9 60
8 St
99xa
8%
6>a
614

7
8^8

1 8 9 5 ... .0. 55s
18 94 ... — 715j6
1 8 9 3 ...
1892....
93la
1891....
18 90 ...
1 8 8 9 ...
18 88 ... ... 10®8

8*00
9*00
9*16
9-50

7-85
8-85
901
9*35

7 75
875
8*91
9*25

Fi-1.

8 00
9*00 Holl9 1 6 day.
9*50

1887. . . . 0 . 9 1
*
1886. ....... 9]l6
1885. ____I l l s
1884.
1883.
1882. .....1 1 *8
1881. . . . . . H 9ia
1880. ....... 133ib

9 TO
9*10
9 26
9 60

M A R K ET AND SALES,

Thetotalsales o f ootton on the spot eaoh day during the
week are indicated in the follow ing statement. For the
convenience o f the reader we also add colum ns whioh show
at a glance how the m arket for spots and futures d o s e d on
same days.
Spot Ma rk et
Closed .

F utures
Ma r k e t
Closed .

Sales
F xp o ri.

Saturday.. Quiet, 10 pts. ad. Steady........
M onday.... Quiet, 10 pts. ad. F irm ............
Tuesday... Quiet, 15 pts. ad. Steady........
Wednesday Quiet.................. Steady ........
..
Thors Aay
Friday...... Quiet, 10 pts. ad. Steady........
Total___ __

---- ----- -

687
....
....

o»

Sp o t A C ontract

<7on$um p.

620
—

220
279

C on
t r a c t.

fioial.

. .. .

1,307
400

400
. .. .
—

220
279

600

710

A m erica n —

Mast In d ia n , B ra sil, etc.—

87.000 116,000
72.000
96,000
Liverpool s to ck ...—. . . —. . —
4,000
8,000
5,000
London stook..... ............. - ___
11.000
31,300
25.000
32,000
Continental stook s..— ______
42,200
21,000
75,000 114.000
India afloat for E u rope.......— 181.000
54,000
32,000
69.000
59,000
■gypt, Brazil, Ac., afloat.___ _
Stock in Alexandria, E g y p t... 183.000 247,000 186.000 192.000
473.000 430,000 407,000 358.000
Stook In Bombay, In d ia ...—
Total East India, A c ...— 1,011,000 944,000 879,200 776,300
____
Total American...................3,075,004 3,524,123 3,215,643 3,342,601
Total Visible Sim ply...— 4,086.004 4,468,123 4,094.843 4,118,901
5333d.
Middling Upland, L iverpool..
513sad.
i, iv erp ool5 08d.
4iij«<l*
9*40.
Middling Upland, “
New Y o r■ k
9-600.
8S»o.
sV .
85gd.
8tid.
5 7sd.
Egypt Good Brown, Liverpool
8*61.
Peruv. Rough Good, Liverpool
7*30<L
7d.
7J*d.
7716d.
5Qd.
Broach Fine, L iv erp ool....—.
47
8d.
4918d.
5d.
5d.
4%d.
4»ad.
Tlnnevelly Good, L iverpool... 4isiad.

Continental imports p a s t w e e k h a v e been 9 9 ,0 0 0 b a ie s.
The above figures in d ic a t e a lo ss iu 1903 o f 3 8 8 ,1 1 9 b a le s
as compared with same d a te o f 1902, a d e c re a se o f 8 .8 3 9
687 1.229 1,000 2,916 bales from 1901 and a decline of 3 2 ,8 9 7 bales from 19 00 .

Hoii d a y ...

110

THE

390

CHRONICLE

A t th e I nterior T ow ns the m ovem en t—th at is the receipts
fo r the w eek and sinoe Septem ber 1, the shipm ents fo r the
w eek and the stocks to-night, and the same item s fo r th e
correspon din g period o f 1901-02—is set out in detail b elow .

Q u o t a t io n s

[V ol . LXXVI.
foe

Satur.

Galveston...
New Orleans
M obile........
Savannah...
Charleston..
Wilmington.
Norfolk.......
Boston........
Baltimore. .
Philadelphia
Augusta. . . .
Memphis___
St. Louis___
Houston___
Cincinnati..
Little Rock.

She
9
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9
8*4
8*

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915
Ofi
9-50
914
87a
81Blfl
9ha
8%
81
*

Athens...____

A tlan ta ..........
Charlotte........
Columbus, Qa.

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on.

Tues.

9!l6
9»s
878
9ifl
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925
93s
9-60
96ia
She
9iis
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8%
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9
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935
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9-75
9716
9*8
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95ie
9*4
9
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9-50
9*s
9-75
93f,®718
9*8
9*«
95,8
8%
8%

95j8

98a
93g
9 316
938
9*4
8*e
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9 50
98b
9-85
99l0
9*6
9*4
93s
9
8%

9*4

9
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9*8
9
93s
950
9*e

9710
9*8
9%
95i0
8\
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9^

Columbus, Miss
Eufaula.. . . . . . .
L ouisville........
M ontgom ery...

9
9
9
9b18

Nashville........
N atohes..........
R aleigh...........
Shreveport___

9
9 i18
93s
8i3ia

N e w O r l e a n s O p t io n M a r k e t .— The highest, low est a n d

closing quotations for leading options in the N ew O rleans
cotton m arket the past w eek have been as follow s.

Sat’day. Monday, Tuesday, W
ed'day, Thursd’y Friday,
Feb. 7. Feb. 9. Feb. 10. Feb. 11. Feb. 12. Feb. 13.

CC © <1 OJ y» © If* *v| © QD CO © H- 00 CO *0 K) — t o w o o

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Oth er Ma rk ets.—

The d o s in g qu otations to-d a y (F riday) at oth er im p orta n t
Southern m arkets w ere as follow s.

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at

CLOSING QUOTATIONS FOB MIDDLING COTTON ON—

Feb. 13.

©
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C^HW

M id d l in g C otto n

Below are closin g quotations o f m id d lin g co tto n at S ou th ern
and other principal cotton m arkets fo r eaoh day o f the w eek ,

July—

— ® — — ® — — ® — —a — — ® — — ® —
8-96® - 9*13® - 9-24® — 9 1 0 ® — ® — 9'40® —
8 -9 6 *> 9‘05®-22 9'13®'33 9'16®'25 9-15®-26 9 35W 46
02
9*01®-02 9 1 9 ® '2 0 9'30®'31 9-18®-19 — ® — 9 43® ’44
9 09D-15 9 18® 34 9'28® '43 9'25®'37 9'22®'35 9'43® ’53
9 14®'15 9'29®'30 9'38®'39 9'26®'27 — ® — 9'50®'51

Range. . . . 9'19®'25 9'28® '44 9-38®-5l 9 32®'44 9 30®-42 9'53®'60
Closing... 9'24®'25 9*39®'40 9-48® 49 9 34®'35 — ® — 9'59®'60

A u g u st —
© M

d

03 CO t O h -

W M C*

MMODOO W

Range___ 8'84®'92 8-92®'05 9-01®-17 9 '0 3 ® -ll 8 '9 9 » 'l l 9‘20®r29
Closing... 8-88W39 9*04® 06 9-l4®-lt> 9 02® 04 — ® — 9’2 7 «'2 8

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t- S
r
#■ •
> •

The above totals show that the in terior stock s h ave d e
creased du rin g the w eek 27,226 bales, and are to-n ig h t 186,149
bales less than same period last year. The receipts at all th e
tow n s have been 29,689 bales more than same w eek last yea r,
O v e r l a n d Movem en t

for the

W

S in c e S e p t , 1 ,—

eek and

W e giv e b elow a statem ent sh ow in g th e o v e rla n d m ovem ent
fo r the week and sin ce Sept. 1, as m ade up fr o m teleg ra p h ic
reports F riday n ig h t.
T he resu lts fo r the w eek ending
F eb. 13 and sin ce Sept, 1 in the last tw o years are as follow s,
1901-02.

190S-03.

February IS.

Sinet
Sent I

Since
Wtek. O t I.
ep

Shipped—

Via St. Louis..................................
Via Cairo........................................
Via Paducah.................................
Via Rook Island..........................
Via Louisville................................
Via Cincinnati..............................
Via other routes, &c...................
Total gross o v e rla n d ..............

Deduct shipments—

25,425
7.834
4,729
534
9.603

542,288 16.317
3,365
167,326
1,495
783
23,424
5,248
90,324
1,980
28,177
8,522
219,732

591,834
90,460
174
29.206
139,770
73,224
275,561

48,125 1,072,766 36.225 1,200,229

Overland to N. Y., Boston, A c ..
Between Interior towns.............
Inland, <fco., from South________

9,875
248
401

119,467
34.189
33,359

7,600
103
736

Total to be deducted................

10,524

187.015

8,4S9| 344,064

Leaving total net overland___ 37,601

267,233
46,213
30,618

88*.7f>li 27,786l 856,165

The fo reg oin g sno ws that the week's net o v e n a n a m ovem ent
this year has been 37,601 bales, again st 27,786 bales fo r the
w eek in 19C2, and th at fo r the season t o date th e aggregate net
overland ex h ib its an excess over a y e a r a g o o f 29,686 bales.
7n

Sight and Spinners
Takings.

1905-03

1901-02.

Bines
W
esk. Sevt l .

W
eek

Since
Sspi 1

Receipts at ports to Feb. 13.......... 192,085 6,213,692 156,577 6,058.142
Net overland to Feb. i s .................. 37,601 885,751 27,786 856.165
Southern consumption to Feb. 13. 41.000 959.000 37,ooo 842.OOf
Total marketed.......................... 270,686 8,058.343 221.313 7,757.307
Interior stocks in exoess................ *27,226 344,245 *23.944 464,167
Came Into sight during week.. 248,460
197,419
Total In sight Feb. 13...............
8,402,588
8.221,474
North’n spinners’ tak’ gs to Feb. 13 75.930 1.506.280 74,373 1,464,851

* Decrease during week.
'■ M ovem ent in to Bight in previous years.
~ Week—

1901- Feb.
1 9 0 0 -Feb.
1899- Feb.
1898—Feb.

Balei.

Since Sept. 1—

16.................... 155,484 1900-01—Feb.
16.................... 198.486 1 8 9 9 -0 0 -Feb.
17.................... 94,692 1898-99—Feb.
18............. .... . 216,592 1897-98—Feb.

15...
16...
17...
18...

Bales.

7,929 626
7,260,299
9,104,119
9,175,681

T o ne —

Spots....... Firm.
Options... Steady.

Strong.
Firm.

Firm.
Steady.

Steady.
Steady

Firm.
Y’y st’dy

W eath er R eports b y T e l e g r a p h .—Our telegraph ic re
ports from the South this even in g indicate that on the w h ole
the w eather has been q u ite u nfavorable the past w eek. R ain
has been general, and in m any sections the precipitation has
been excessive, retarding the m arketin g o f cotton . In som e
districts w here cotton is still in the fields, p ick ing has made
progress, but in others the w et w eather has in terfered w ith
gathering. F rom A labam a we are advised that low lands
have been overflow ed as a result o f heavy rains, m aking
farm w ork im possible; but that it is too early to d o any
harm to farm in g interests.
Palestine, T exas.— It has been show ery on three days o f
the week, the rainfall reaohing tw o inches and fou rteen h un 
dredths. T he therm om eter has ranged fro m 36 to 70, aver
aging 53.
Corpus Christi, Texas,— R ain has fallen on tw o days o f the
week, the rainfall being tw enty-eigh t hundredths o f an in ch .
A verage therm om eter 58. highest 72, low est 46.
F ort W orth , T exa s,— W e have had showers on three days
o f the week, the rainfall being seventy nine hundredths o f
an inch. The therm om eter has averaged 55, the highest
being 72 and the low est 38.
Galveston, T exas.— W e have had show ers on fo u r days o f
the week, the rainfall reach in g one in ch and e ig h ty-fou r hun
dredths
The therm om eter has averaged 55, the highest be
in g 66 arid the low est 44.
San A n ton io, T exas.— W e have had show ers on fou r days
o f the w eek, the rainfall reaching one inch and forty-three
hundredths. The therm om eter has averaged 57, ranging
from 40 to 74.
New Orleans, L ouisia n a .—There has been rain on fou r days
during the week, the precipitation being tw o inches and
forty-nine hundredths o f an inch. The therm om eter has
averaged 55.
Shreveport, L ouisian a.—W e have had rain on three days
during the week, the rainfall reach in g tw o inches and
seventy-one hundredths. The therm om eter has ranged from
86 to 70, averaging 53.
Vicksburg, M ississippi.— The w eather continues u n favor
able fo r the picking or m oving o f cotton. There has been
rain the past week to the extent o f five inches and seventeen
hundredths, on fou r days. T he therm om eter has averaged
47, ranging from 36 to 67.
Greenville, M ississippi.—T he w eather continues bad, re
tarding the m arketing o f cotton.
Columbus, M ississippi.— W e have had rain on five days
during the w eek, the rainfall being fou r inches and ten
hundredths. A verage therm om eter 49, highest 68 and lo w 
est 30.
Leland, M ississippi.— It has rained during the week to the
extent o f three inches and seven ty-tw o hundredths. The
therm om eter has averaged 44‘9, the highest being 52 and the
low est 30.
k

THE

F ebruary 14, 1903.]

CHRONICLE

L ittle Rock, Arkuratas.— W e t wtatRer iu ttriereu v ery
mnch w ith the p ick in g and m arketing o f cotton . W e have
had rain on fon r days d a rin g the w eek , the precipitation
reaching one in ch and thirty-one hundredths.
A verage
therm om eter 46, highest 69, low est 32.
Helena, A rka n sa s.— W ith better w eather p ick in g has
made good progress. W e have had rain on tw o days o f the
week. T h e therm om eter has averaged 46, the highest being
66 and the low est 30.
Memphis, Tennessee.—T he w eather has been m ore fa v o r
able and some progress has been m ade ^in gathering cotton.
W e have had rain on three days o f the week, the rainfall
reaching eighty-nine hundredths o f an in ch . The th er
m om eter has averaged 44‘8, ranging fro m 32-7 to 65 6.
Nashville, Tennessee.—Rain has fallen du rin g the w eek to
the extent o f seventy-four hundredths o f an inch. The th er
m om eter has ranged from 29 to 62, averaging 45.
Selma, A labam a.— There has been rain on three days du r
ing the w eek, the rainfall being six inches and seventy h u n 
dredths. The therm om eter has averaged 55, ranging from
36 to 70.
Mobile, A labam a.—H eavy rains th rou gh ou t the in terior
have caused creeks and rivers to overflow low lands gen erally,
m aking farm w ork there im possible. Rain has fallen on fou r
days o f the week, the rainfall being three inches and tw entyseven hundredths. A verage therm om eter 55, highest 72,
low est 37.
M ontgom ery, A labam a.— E xcessive rains, causing very high
w ater, retards farm w ork, but it is to o early in the season to
d o any harm to farm in g interests. W e have had rain on five
days of the w eek, the rainfall being five inches and thirtyeight hundredths. The therm om eter has a vera ged A 8, the
highest being 68 and the low est 85.
M adison, F lorid a,— W e have had rain on three days during
the week. The therm om eter has ranged from 46 to 70,
averaging 57.
A ugu sta, G eorgia.— W e have had rain on three days dur
ing the week, to the exten t o f fo u r inches and eighteen h un 
dredths. A verage therm om eter 48, highest 65 and low est 36.
Savannah, G eorgia .—It has rained on three days d u rin g
the w eek , the precipitation being ninety hundredths o f an
inch. The therm om eter has averaged 56, the highest being
70 and the low est 41.
Charleston, South C arolin a.— There has Ibeen rain on five
days during the w eek, the precipitation bein g e ig h ty -fo u r
hundredths o f an inch. The therm om eter has averaged 54,
ranging from 40 to 67.
Stateburg, South C arolina.— T he w eather has been too
w et for plou gh in g fo r a day or tw o. W e have had rain on
three days during the w eek, the ra in fa ll being fou r inches
and forty-th ree hundredths. The therm om eter has ranged
from 33 to 68, averagin g 49'2.
G reenw ood, South C arolin a.— W e have had rain du rin g the
w eek to the extent of fou r inches and thirty hundredths.
A verage therm om eter 42, highest 50 and low est 34.
The follow in g statem ent w e have also received by telegraph,
sh ow ing the height o f the rivers at the poin ts nam ed, at
8 o’clo ck Feb. 12, 1903, and Feb. 13, 1902.
Feb. 12, ’03. Feb. 13, 02.
Feet.

I n d ia C otton M o v e m e n t

from a l l

Feet.

120
290
21-5
14-4
32-7

New Orleans___ ..........A bove sero o f gauge.
M e m p h is.........
Nashville___— ........ Above zero o f gauge.
Shreveport.. — ..
Vicksburg...........

90
24-4
88
3-2
30-3

391

r.UKOJt-KAis (Jotton consum ption to F eb . 1.— B y cable
to-day we have Mr. Ellison’s c o tto n figures brought dow n to
F ebruary 1. W e give also revised totals for last year that
com parison m ay be m ade. The spinners takings in actual
bales and pounds have been as fo llo w s:
Oet. 1 fo Feb. 1.

Great Britain.

2,010,000
3,378,000
486
493-7
976,860,000 1,667,700,000

F o r 1 9 0 1 -0 2 .
Takings by spinners... bales
Average weight of bales.lbs
Takings In pounds...............

1,253,000
508
636,524,000

1,762,000
3,015,000
499
502-7
879,238,000 1,515,762,000

A ccord in g to the above, the average w eigh t o f the deliveries
in Great Britain is 505 pounds per bale this season, against
508 pounds during the sam e tim e last Beason. The C ontinental
deliveries average 486 pounds, against 499 pounds last y ea r,
and for the w h ole o f Europe the deliveries average 493-7
pounds per bale, against 5027 pounds last season.
Our
lispatch also gives the fu ll m ovem en t for the fo u r m octh s
this year and last year in bales o f 500 pounds.
1902-03.
1901-02.
Oet. 1 to Feb. 1.
Bates o f 500 lbs. each,
Great
Conti Total.
Great
Conti Total.
000* omitted.
Britain. nent.
Britain. nent.
Spinners’ stock O o tl
Takings In O ctober...

55,
257,

370,
381,

Total supply........
Oonsump. Oot., 4 wks.

312,
260,

751,
376,

Spinners’ stock Nov. 1
Takings In November.

52,
S08,

875,
445,

Total supply........
Oonsump. Nov., 4 wks.

360,
260,

8plnners’ stock Deo. 1
Takings In Deoember.

Receipts a t week.

Bombay..........
Mssport i
fro m —

Bombay—
1902 03..
1901-02..
1900-01..
Calcutta—
1902-03..
1901-02..
» ar,nni
Madras—
1902-03.
1901-02..
1900-01..
All others—
1902 03..
1901-02..
1900-01..
Total all—
1902 03..
1901-02..
1900 01..

89,000

Since
Sept. 1.

Week.

Since
Sept. 1.

1900-01.
Week.

923,000 96,000 1,076,000 78,000

Since
Sept. 1.
783,000

Since September 1.

F or the Week.
Great
B ritain .

C on ti
nent.

Total.

3,000

34,000
7.000
19,000

37,000
7,000
19,000

14,000
1,000
31,000

258,000
142,000
241,000

272.000
143,000
272,000

2,000

2,000

2,000
1,000
2,000

15,000
7,000
8,000

17,000
8,000
10,000

1,000

1,000

2,000
1,000
7,000

8,000
3.000
9.000

10,000
4,000
16,000

3,000
1,000

3,000
1,000

13,000
1,000
8,000

29.000
39.000
29,000

42.000
40.000
37,000

37,000
10.000
20.000

40,000
10,000
20.000

31,000
4,000
48,000

310.000
191.000
287,000

341.000
195,000
335,000

mm
mm
mm
•m m
mm
m

3,000

Great
B rita in .

C onti
nent.

Total

A o o o r d in g to th e f o r e g o i n g , B o m b a y a p p e a r s t o sh ow a
decrease co m p a re d w ith la s t y e a r in th e w eek’s r e c e ip t s of
7.000 bales. E x p o r t s fr o m a ll In d ia p o r ts re co rd a gain o f
30.000 b a les d u r in g th e w e e k a n d s in o e S e p te m b e r 1 sh ow
an increase o f 146,000 b a le s .

425,
638,

36,
237,

317,
321,

353,
558,

273,
240,

638,
368,

911,
608,

427,
753,

33,
296,

270,
353,

303,
649,

820,
376,

1,180,
636,

329,
264,

623
368.

952,
632,

100,
479,

444,
573,

544,
1,052,

65,
405,

255,
607,

320
1.012,

Total supply........
Oonsump. Deo., 5 wks.

579,
325,

1,017,
470,

1,596,
795,

470,
330,

862,
460,

1,332,
790,

Spinners’ stock Jan. 1
Takings In January..

254,
838,

547,
555,

801,
893,

140,
335,

402,
478,

542,
813>

Total supply........
Oonsump. Jan., 4 wks.

592,
260,

1,102.
376,

1,694,
636,

475,
264,

880.
368,

1,355,
632,

Spinners’ stock Feb. 1

332,

726,

1,058,

211,

512,

723

1,063
636

The com parison w ith last year is m ade m ore strik in g b y
brin gin g togeth er the above totals and addin g the average
w eekly consum ption up to this tim e fo r the tw o years.
Oet. 1 to Feb. 1.
Bales o f 500 lbs. each.
000 s omitted.

F o r t s .— The receipts

1901-02

Total.

1,368,000
505
690,840,000

1902-03.
Great
Britain

o f co tto n at B om b a y an d th e sh ip m en ts fr o m all In d ia port* Spinners’ stock Oct. 1
55,
for th e w oek en d in g Feb. 13, and fo r th e season fro m Sept. 1 Takings to Feb. 1...... 1,382,
to Feb. 12 fo r th ree years h a v e b een as fo llo w s :
1902-03.

Continent.

F o r 1 9 0 2 -0 3 .
Takings by spinners...bales
Average weight of bales.lbs
Takings In pounds.............

Supply......................... 1,437,
Oonsumpt’n, 17 weeks 1,105
Spinners’ stook Feb. 1

332

1901-02.

Conti
nent.

Total.

Great
Britain

Conti
nent.

370,
1,954,

425,
3,336,

36.
1,273.

353,
317
1,759, 3,032,

2,324,
1,598.

3,761,
2,703,

1,309,
1,098,

2,076 3,385,
1,564, 2,662,

726,

1,058,

94,
94,
94,
94,

159,
159.
159,
159,

211

512

Total

723,

Weekly Consumption
000* omitted.

In
In
In
In

October.............
November.........
D eoem ber.........
January.............

65,
65,
65,
65,

*60,
66,
66,
66,

92,
92,
92.
92.

152,
158,
158,
158

* The average weekly rate o f consumption In Great Britain Is as
given by Mr. Ellison, after allowing for stoppage o f spindles n
oonsecpience of short supply of ootton.

The foreg oin g shows that the w eek ly consu m ption is n ow
159.000 bales o f 500 pounds each, against 158,000 bales o f
like w eights at the corresponding tim e last year. The tota l
spinners’ stocks in Great B ritain and on the Continent have
increased 257,000 bales during the m onth and are now
335.000 bales m ore than at the same date last season.
It w ill be noticed that, a ccord in g to Mr. E llison, spinners
stocks in E urope increased 257,000 bales during January, and
were at the close o f that m onth 335,000 bales in excess o f the
stock o f Jan. 31, 1902. T his accounts fo r m ost o f the defic
iency in the visibly supply at that date, and confirm s our
remarks on the su b je ct in the C h r o n ic l e o f January 31,
page 242. Since the close o f January spinners’ takings in
Great Britain have been about 20,000 bales in excess o f con 
sum ption as estim ated by Mr. EIMsod , and, besides absorbing

THE

392

C H R O N IC L E .

the 282,000 bales imported the past two weeks, Continental
takings have reduced the stocks at Continental ports by 9,000
bales, which denotes that Continental mills have increased
their stocks by about 100,000 bales during the two weeks of
February. A t this date, therefore, European mill stocks are
about 450,000 bales greater than at the corresponding date in
1902, whereas the deficit in the visible supply is only
382,119 bales.

[V ol. L X X V I .

ing his attention particularly to the East Indian depart
ment of the firm, and in consequence being rarely seen on
the floor of the Cotton Exchange.
F a l l R iv e r C otton S p in n e r s to D em and te n p e r cen t
A d v a n c e . —Advices from Fall River of date Feb. 12 state

that an advance in wages of 10 per cent will be demanded
by the spinners of the New England cotton yarn mills in
Fall River, and efforts will be made to have the spinners in
other mills in Taunton and New Bedford join in the request.
The demand for an increase was the outcome of a meeting
M b . E l l is o n ’ s V i e w o n P r o s p e c t s f o r 1903.—From Mr. Feb. 11, at which nearly every spinner in the mills was pres
Ellison’s Annual Review of the Cotton Trade for the year ent, and the vote was unanimous.
1902, which reached us this week by mail, we extract the fol
Sh ippin g n e w s .— A s shown on a previous page, the
lowing remarks on future prospects of supply and consump
•xportsof ootton from the United States the past week have
tion:
reached 176,031 Dales. The shipments In detail, as made up
At this period of the season there Is al ways a wide difference of opinion from mail and telegraphio returns, are as follow s:
regarding the probable outturn of the Amerloan orop, and In this re
Total
spect the views now current respecting the ultimate yield of the In Naw Y ork—To Liverpool, per steamers Celtio, 6 ___Saxonla, b a le s .
coming orop are quite as conflicting as in previous seasons. A short
1,275
Taurio, 2,951
Victorian, 5,724......................... 9,955
time ago the estimates put forth by the most generally recognized
469
To Hull, per steamer Martello. 469.......................................
authorities ran from 10,750,030 to 11,750,000 bales, or an average of
To Manchester, per Steamer Bellaura, 1,632 upland and
11,250,000 bales. It is true there has recently been an Inclination in
234 Sea Island........................................................................ 1,866
some quarters to favor smaller forecasts; but although the course of
To Bremen, per steamer Brandenburg, 5,718...................... 5,718
events has gone against figures as high as 11,750,000, or even against
1,868
To Antwerp, per steamer Zeeland, 1,868..............................
11.500.000, nothing has occurred to justify the abandonment of
To Copenhagen, per Steamer Kentucky, 300........................
300
the estimate of 11,250,000, and we shall adopt this figure as a basis
To Barcelona, per steamer Montevideo, 1,391...................... 1,391
upon which to make up our usual table of prospective supply and con
To Genoa, per steamer Lombardia, 1 5 0 .............................
150
sumption. Last year we adopted 10,500,000, and the year before 10,100
To Naples, per Steamer Lombardia, 1 0 0 ..............................
250.000. Neither of them was far astray, and both of them were
To Japan, per steamer Heathford, 857....................... ........
857
slightly smaller than the orops actually gathered.
N»w Orleans -T o Liverpool—Feb. 7—Str. Navigator, 2,581... 2,584
Last year the consumption of the United States was almost univer
To Havre—Feb. 13—Steamer Mount Royal, 18,510............. 18,510
sally underestimated. The underestimate, however, applied chiefly
To Dunkirk - Feb. 7—Steamer Exmouth. 5.617....................
5,617
to the mills at the South. This year we are inclined to think that the
To Bremen - Feb. 10 8teamer Yestor, 6,600 ...................... 6,600
requirements of Amerloan spinners are being overestimated, and we
To Rotterdam-Feb. 9—Steamer Amboto, 150......................
150
think that an addition of 200,000 bales to last season’s large increase
To Antwerp—
Feb. 6—Steamer Homer, 3,618........................ 3,618
Is sufficient to meet the requirements of the oase, unless the orop runs
To Copenhagen—Feb. 6—Steamer Florida, 1,009................. 1,009
over 11,250,000 bales, and prloes sink to a lower level than the rates
To Genoa—Feb. 10—Steamers Monvlzo, 7,159; Vinoenzo
now current. * * *
Bonanno, 6.000...................................................................... 13,159
In my statements it is assumed that the reduction of 50,000 bales in
To Naples—Feb. 10 - Steamer Monvizo, 600........................
600
the probable supply of Egyptian, as compared with the outlook in G alveston—To Liverpool—
Feb. 6 —
Steamer Scholar, 1,787....
October last, will be made up by an increased consumption of Ameri
Feb. 7—Steamer Amerloan, 12.926...................................... 14,713
can. It Is by no means certain that this will be the oase, but if suoh a
To Belfast—Feb. 11—Steamer Bray Head, 1.700................. 1,700
substitution does take plaoe it will, along with the estimated pros
To H avre-Feb. 7—Steamer Knight of the Garter, 20,664
pective lnorease in the consumption of the mills in America over the
___Feb. 9 —8teamer Etolla, 6,852........................................ 27,516
computations ourrent three months ago, bring the consumption of
To Bremen—Feb. 9 -Steamer Magdala. 7,033...................... 7,033
Amerloan cotton up to between 10,900,000 and 11,000,000 bales,
To Hamburg - Feb. 11- Steamer Brinkburn, 1.850..............
1,850
unless checked by advanced prloes. It may be, however, that the
To Rotterdam—Feb. 7—Steamer Hannah
consumption In the United States will not be so large as the estimate Pensacola—To Manchester—Feb. 7—SteamerM. Bell, 1,320...  1,320
Manchester I n
at present in vogue, and upon whloh our forecast is based. It Is also
ventor, 2,776................. ................ ....................................... 2,776
assumed that the stooks In the Amerloan ports will be about the same
To Bremen—Feb. 11—
8teamer Glanton, 8.625 ................... 8,625
at the close as at the opening of the season, in which oase the surplus
over consumption will figure in the stooks in the ports of Europe; but Savannah—To Liverpool-F eb. 7—Str. St. Dunetan, 12,121 13,128
upland and 1,007 Sea Island................................................
clrcumstanoes may lead to the retention of larger stocks In the Amer- Boston - T o Liverpool—Feb. 7—Steamer Sylvanta, 493.............
493
oan ports a t the close than at the opening of the season, which would
To Manchester—Feb. 5—
Steamer Bostonian, 844................
844
mean smaller stooks In Europe.
Seattle -T o Japan—Feb. 10—Steamer Shiuano Maru, 4,110.. 4,110
Tacoma—To Japan—Feb. 7—Steamer Victoria, 2,600....Feb.

A le xa nd r ia R eoeipts and S hipm ents op Cotton.—
10—Steamer Tremont, 1,115................................................. 3,715
Through arrangements we made with Messrs. Davis,
Total...... .................. . . . . . . ................... ......................... .... 176,031
Benaohi & C o., of Liverpool and A lex a n d ria , we now
The partioulars of the foregoing shipments for the week
reoeive a weekly cable of the movements o f cotton at arranged in uur usual form , are as follow s.
G rea t F ren ch Q er- - O t h .E ’ r o p c - M e x ic o ,
Alexandria, Egypt. The follow ing are the reoeipts and
B r i t ’ n . p o r t s , many. f f o r t k . S o u th
A c . J a v a n T otal.
shipments for the past week and for the corresponding New York. 12,290 ......... 5,718 2,168 1,641
857 22,674
N. Orleans 2,584 24,127 6,600 4,777 13,759
51,847
week of the previous two years.
Galveston. 16,413 27,516 8,883 1,320 ........
54,132
Sab. Pass..
........13,687
13,687
A le » a n d r ia ,B a w l,
Pensacola. 2,776 ........ 8,625
11,401
1902-03.
1901-02.
1900-01.
F e b r u a r y 11.
Savannah. 13,128 ...................
13,128
Boston_
_ 1,337 ...................
1,337
Receipts (cantars*)Seattle_
_
4,110 4,110
This week...... ........
145,000
216,000
130,000
Tacoma....
3,715 3,715
Slnoe Sept. 1...........
5,236,000
5,491,000
3,937,000
Total.... 48,528 51,643 43,513 8,265 15,400 ........ 8,682 175,031
T h is
Nines T h is
S in c e
T h is
S in c e
w e e k . S ept. 1. w e e k . S ep t. 1. w e e k . S ept. 1.
Exports to Japan since Sept. 1 have been 111,891 bales from
the Pacific Coast, 8,557 bales from New York and 400 bales
Exports (bales)—
To L iverpool...._ 14.000 262,000 9,000 218,000 1,000 202,000 from Norfolk.
_
To Continent f _____ 20.000 248,000 18,000 296,000 8,000 161,000
Ootton freights at New York the past week have been
as follows.
Total E nrope. . . . . 34,000 510,000 27,000 514,000 9,000 363,000
* A cantar is 98 pounds.
S a tu r.
M on.
T u es. W ed n es. T h u rs.
F r i.
t Of whloh to America In 1902-03, 60,398 balea; In 1901-02,66,549
bales; In 1900-01,29,375 bales.
a
Liverpool.......... c.
12
12
12
12
12
a
a
■
This statem ent shows that the receipts for the week Manchester........e.
12
12918 12913 12013
12913
■
ending Feb. 11 were 145,000 cantars and the shipments to Havre, asked ....e.
261*
261*
21
64 26>«
■
261*
■
all Europe 34,000 bales.
Bremen, Maroh. .e.
17i*
17i*
171*
171*
17i«
s
■
a
15
15920 15920 15920
15920
Manchester Ma r k e t .—Our report received by cable Hamburg........... c.
21
21
W
21
21
21
to-night from Manchester states that the market is firm Ghent............... e.
15
15
15
15
15
for yarns and quiet for shirtings. Manufacturers are gener Antwerp............ c.
P
i
9
26928
ally well under contract. W e give the prices for to-day Rev&l, Indirect., c. 26928 26028 26928 26 928
32
32
32
32
32
below and leave those for previous weeks of this and last Reval, via Oanal.e.
a
Baroel’na.ind’r’t.e.
29
29
29
year for comparison.
29
29
s
Genoa................e.
12
12
11912 10912
10912
•
1903.
1902.
Trieste............... e.
25
25
25
s
25
25
a
Japan (via Snei).e.
45
42i*
42i*
42i«
421*
8Q lbs. S h irt O o tfn
8t* lbs. S h irt O oit'n
32s Oop. in g s , co m m o n M id . 32s O op.
in g s , co m m o n M id.
Quotations are oents per 100 lbs.
T w ist.
T w ist.
to fin e s t.

d.
d.
Jan. 9 71* 081«
“ 16 7518® 8 ^
• S3 7*8 ®8318
*
“ 30 77l«»8l4
Feb. 6 73s ©83i8
“ 13 7'7la ®8Q

s.
6
5
5
5
5
5

U plds

to fin e s t.

d. s. d.
2 ©7 9
2i*©7 9
3 ©7 10i*
4 ©8 0
4 ©8 0
5 ©8 0

d.
d.
d. s.
4-72 6i5lg-7ii16 5
4-80 7
©7% 5
4-84 67 ©78a 5
8
486 6161897% 5
4-88 616la®7% 5
508 7 ©713,8 5

d. s. d.
1 ©7 9
1**©7 10
1 ©7 10
li* ©7 10i*
li*©7 10»*
2 ©7 10i*

U plds

sL"
41*

41*
4»l«
^ is
—Mr. Pandeli Y . Fachiri, manager of the New York house
of Messrs. Ralli Bros., 13 Old Slip, died on Monday morning
of consumption, after a long illness, at his home, No. 145
West 58th Street, this city. Mr. Fachiri was a native of
Smyrna, and sixty-four years of age, and had been con
nected with the Ralli Bros, for about forty years, of which
about a qiarter of a century with the New York house, giv-

Liverpool.—By cable from Liverpool we have the follow*
ing statement of the week’s cables, stocks, &c., at that port.
Jan.

(ales of the week.......bales.
Of whloh exporters took...
Of whloh speculators took.
Sales Amerloan___ . . . . . . . . . .
Actual export....__________
forwarded..._____________
Total stock—Estimated.........
Of whloh Amerloan—Est’d.
Total Import of the week......
Of which Amerloan............
Amount a flo a t________ _______

23.

62,000
1,400
3,300
54.000
7,000
75.000
636.000
564.000
99.000
89.000
254.000

221 ,nnr>

Jan.

80.

76.000
1,000
11.000
66,000
11,000

105.000
665.000
587.000
145.000
108.000
19e,000
165.000

F eb.

6.

62,000
1,900
6,200

60,000
10,000

78.000
680,000
609.000
103.000
96.000
192.000
157.

F eb. 18.

64.000
1,100

6,700
58.000
17.000
73.000
653.000
681.000
62.000
41,000
201,000
168 nnr

THE

February 14, 1903.]

CHRONICLE

The ton e o f the L iv erp ool m arket fo r spota and futures
eaoh day o f the w eek en d in g Feb. 13 and the daily closing
prices o f spot o o tto n , have been as fo llo w s .
Spot.

Sat'day. Monday. Tuesday. Wed’day. Thurtd’y

Fair
Fully
Fair
Market, (
13:80 P. M. $ business Harden’g. maint’ned demand.
doing.

Friday.

Fair
demand. Harden’g.

Mld.Upl’ ds,

4-92

500

500

500

500

508

Bales...........
Ipeo. A exp.

8.00C
1,000

10.000
500

10,000
1,000

12,000
1,500

10,000
1,000

10,000

1,000

fu tu r e t.

Quiet at
at
Market l Steady at Strong at Br'lyst’dy Br’ly st’dy 1®2 pts. Firmpt.
S@4
5@7 pt*. 3@4 pts. 1@8 pts.
lp t.
•pened. ) advance. advanoe. advance. advance. advance. advance.
Firm at Fev’lsh at
Firm at Quiet at Irreg. at
Market, $ Feverish, 4@8 pts. 1%@2 pts. 2@3 pts. 1@3 pts. >4®10 pts
2@4 pts.
4 P. M. ) advance. advanoe. advance. decline. advance. advance.

The p rices o f fu tu res at L iv erp ool fo r eaoh day are given
below , P rices are on the basis o f U plands, G ood Ordinary
clau se,un less oth erw ise sta te d .

been the renewal o f active buying fo r export here and at
outports. The purchases by shippers fo r the week are re
ported as amounting to in excess o f 2,000,000 bushels.
The movement o f the crop has not com e up to
expectations,
due
largely to
a short
supply
of
freight cars, and this, and unfavorable weather fo r
satisfactory grading o f corn also, have been factors
favorable to the market. Despite the fact that receipts at
prim ary markets have not been as heavy as anticipated,
stocks have been steadily gaining, as shown by the increase
in the visible supply statement. During the latter part o f
the week there was a falling off in the export demand and
the tone o f the market was easier. To-day the market was
quiet and slightly easier, A moderate export business was
transacted, the sales for the day am ounting to about 350,000
bushels.
DAILY CLOSING FBI0E8 OF NO. 2 MIXED COBH IN N E W F O R K .
Sat.

O u b corn f. o. b ............
March delivery In elev..
May delivery in elev.......
July delivery In e le v ___

T hus: 4-67 mean*

tW * The prices are given in pence and 100th.

i 67-100d.

57%
58*6
52
49%
OF NO.
Sat.

S a t.

M on.

T n e i,

Feb. 9.

Feb. 10

T h u r i.
F r l.
Feb. 12 Feb. 13.

W ed.

Feb. 7

Feb. 11

12% 4 121*

4

12^*

4

12**

d.

d.

d.

d.

121* 4

4

12i*

1

d.

d.

P. H. P. X P.K. P.M, P.M. P.X. P. M. P.M. P.M. P.M, P.M. P.M.

d.

February..
Feb.-M ch...
Mob.-April..
Aprll-May..
May-June...
June-July...
Joly-A ug...
Aug.-Sept...
8ept.-Oot....
Oot.-Nov__
Nov.-Deo...
Dec.-Jan__

393

4 80
4 79
4 79
4 80
4 82
4 82
4 82
473
4 54
4 43

d.

d.

4 82 4 90 4 90 4 91 4 92 4 91
4 82 4 90 4 90 4 91 4 92 4 91
4 82 4 90 4 90 4 91 4 92 4 91
4 83 4 91 4 91 4 92 4 93 4 92
4 85 4 92 4 92 4 94 4 94 4 94
4 85 4 92 4 93 4 94 4 95 4 95
4 8ft 4 92 4 92 4 94 4 94 4 94
4 75 4 82 4 83 4 84 4 85 4 84
4 55 4 59 4 59 4 59 4 59 4 60
4 41 4 49! 4 49 4 49 4 49 4 49

d.

d.

4 89 4 91
4 89 4 91
4 89 4 91
4 90 4 92
4 92 4 94
4 92 4 94
4 92 4 94
4 82 4 83
4 57 4 58
4 47 4 47

d.

4 92 4 99 5 02
4 92 4 98 5 01
4 92 4 98 5 01
4 93 5 00 5 02
4 95 5 01 5 03
4 95 5 02 5 04
4 95 5 01 5 03
4 85 4 91 4 93
4 5 9 4 61 4 60
4 48 4 48 4 48

J ute Butts , B ag g in g , E tc .—T he market fo r ju te bagging
has been very quiet, but prices are nom inally unchanged at
6c. fo r 1% lbs. and 6J^c. for 2 lbs,, standard grades. Jute
butts dull at
for paper quality a n d 2@ 2J^c. for bag
ging quality.
__________

BREADSTUFFS.
F r id a y , Feb. 13, 1908.
Only a lim ited volum e o f business has been transacted in
the market fo r wheat flour. There has been a slightly easier
turn to values for the grain, and this has had a tendency to
hold buyers of flour in check, they being disposed to hold off
in the hope o f low er prices. Offerings have been lim ited,
spot stocks being light, and ow in g to the freight blockade
supplies are com ing forw ard slow ly from the Northwestern
mills. Prices have been unchanged and firm. R ye flour has
been in moderate job b in g demand at steady prices. B uck
wheat flour has been dull and unchanged. Corn meal has
been in small spot supply and steady.
Speculation in wheat fo r future delivery has been on a
moderate scale only, and there has been an easier turn to
prices. Statistical developments at the opening o f the week
were considered o f a bearish character. Ow ing to large ex
ports from Russian ports there was a substantial increase in
the amount of wheat afloat fo r European im porting ports,
and the United States visible supply o f wheat showed prac
tically no change for the week. The cable advices from
European markets have been disappointing to bull interests,
as they have reported a light demand, w ith sagging
prices, and the buying by exporters in the cash mar
kets has fallen to very moderate proportions. Cable advices
from one European authority said that the Continental de
mand for wheat appears to be lessening, and that the in d ica 
tions are that the supply has overtaken the demand. F orm er
estimates of the European demand fo r Am erican supplies
for the next six months are therefore considered excessive.
Weather reports from the winter-w heat belt have been re
ported as generally favorable, and the condition o f the g r o w 
ing crop has been reported as highly prom ising. T o-day the
market was easier under large exports from Argentina. A
limited amount of export business was transacted, principally
at outports, but at low er prices.
BAILYCLOSINGPRICES OF HO. 2 BUD W T H T E B
Sat.

Mon.

W HEAT

lues.

IN N E V T O B K ,

Wed.

Thurt.

Fri.

Cash wheat t. o. b . . . .............. ...
83*fl
83*4
82%
83*4
82%
May delivery in elev...... 82%
82**
81%
82*4
82*4
81*6
July delivery in eley....... 79
79%
78% Holiday. 78%
79*8
Sept, delivery In elev..
77
77*«
77
76%
77%
OF NO. 3 S P R I N G WHEAT I N C H IC A G O .
May delivery in elev.......
July delivery in elev......

Sat.

80*6
80*«
85

Mon.

Tuet.

79%
74%

79%
74%

Wed.

Thurt.

rn

78*4 Holiday. 77**
73%
74*4

Indian corn futures have been fairly active. Early in the
week prices made a m oderate advance. The feature has

Feb. delivery in elev....... 43%
4334
May delivery In elev....... 45%
July delivery In elev___ 43%
Sept, delivery In elev___ 43%

Mon.

Tuet.

Wed.

Thurt.

Fri.

57%
57
58
57
58%
57% Holiday.
68%
52%
52*0
51%
50
49%
49%
50%
2 MIXED COBN IN C H IC A G O .
Wed. Thurt.
Mon.
Fri.
Tuet.
43%
44
43%
43%
45%
45%
45%
43%
43%
43% Holiday.
43%
43%
43%
43*4

Oats fo r future delivery at the W estern market have been
fairly active, but at a slight weakening in p rices. Specula
tive holders o f May contracts have sold w ith considerable
freedom, reports being current o f sales o f fairly large lines.
The statistical position o f the m arket was reported less bull
ish, stocks showing moderate gains. L ocally the spot m ar
ket has been fairly active a nd firm. To-day the market was
low er under free selling by large operators. The local spot
market was quiet and easier.
DAXLT CLOSING PBIOHS OF OATS IN N E W F O R K .
Wed. Thurt.
in .
Sat.
Mon. Tuet.
NO. % mixed in elev....... 43%
43%
43%
43%
44%
No. 2 white in elev....... 44%
44%
44% Holiday.
DAILY CLOSING PRICES OF HO. 2 MIXED OATS IN C H IC A G O .
Wed. TAurg. f r i .
Sat.
Mon. Tuet.
Feb. delivery in elev...... 35
34%
35
35%
35%
May delivery in elev_
_ 38
37%
37% Holiday. 30%
37%
July delivery in e le v .... 33%
33%
33%
33%
33%

Follow ing are the closing quotations:
FLOUR.
Fine—
___ 60
0 2 65
_
Patent, w inter_ S3 85 0 4 15
2 75 0 2 80
City mills, patent. 4 40 0 4 75
Superfine, . . . . .
Extra, No, 2 ,.
2 85 0 2 90
Byeflour,superfine 2 90 ©3 55
SCxtra, No, I , .
2 95 0 3 20
Buckwheat flour.. 2 15 0 2 25
Oleara.
Corn meal—
3 15 0 3 50
Straights....
• 9m3 55 0 4 1 5
can m
Western, etc____ 8 00 o s 05
Patent, spring.
4 15 0 4 75
Brandywine . . . . 3 10 0 3 1 5
(Wheat flour in sacks sells at prloes below those fo r barrels.)
GBAIN.
Wheat, per bush,—
c.
c.
Com, per bush.—
e.
c.
Western mixed.......... 55%©69
Hard Dul., No, 1 .. f.o . b.92%
N’thera Dul., N o.l f. o. b.89%
No. 2 m ixed------f. o. b.57
Red winter, No. 2 f. o. b.82%
No. 2 yellow............
t o. b.58
Nort’n Dul. No. 2. f. o. b........
No. 2 white........... ™
f.o . b.58
Oats—Mix’d,p. bush. 42*9045
Bye, per b u sh W hite. . . . . . . . . . . . . 43 048
w estern ....™ ............™55 0 6 2
No. 2 m ixed......... 43% «44%
State and Jersey........ 56 0 5 7
No. 2 white........
44 0 4 5
Barley—West................. 51 0 6 3
Feeding................. .....4 7 0 5 0

The m ovem ent o f b readstu ff s to m a rk et as in d ica ted in the
statements b e lo w is prepared b y us fr o m figures collected
by the N ew Y ork Produce E xchange. The reoeipts at
W estern lake and river ports fo r the week ending Feb. 7,
and sin ce A u g. 1, fo r eaoh o f the last th ree years have been:
B e e e ip t* a t —

F lo u r .

W heat

B b U .ld d lb i

ihliago........
Milwaukee.
iulnth _____
Minneapolis.
,'oledo..........
a«trolt........
'leveland...
it, Louie_
_
“eoria.........
'ansae Olty.

113,891
87,676
20,000
...........
3.9C0
22.838
33.515
27,200

C o rn .

BtuA.60 lbs B u s K .5 6 lb s
318,200 1,069,082
103,650
247,280
214,973
1,643,860
92,780
98,000
417,000
35,416
85,465
303,214
14,631
083,045
293,450
12,600
518,100
582,400
640,800

O a t* .

B a r le y .

B ye.

Bu.50 lb * .
638,000
49,303
392,350
24,000
20,037
7,698
157,840
28,690
2,100

B u s h . 3 2 lb s B u s h . iS lb s

2,061,200
201,500
151,389
414,470
70,810
30,920
84,289
592,660
225,900
381,600

86,000
64,900

19,784
5,600

...........
rot.wk.1903
278,919 3,200,290 4,503,036 4,100,716 1,319,127
192,085
tame wk. 02.
280,460 2,835,953 1,354,731 1,420,009
623,703
58,383
leme wk.’Ol.
401,686 8,400,603 6,049,814 3,492,893
677,249t 109,904
S in e s A u t . 1.
1902-03.......... 11,875,147 189,474.864 82,413,301 111,661,718 40.621,032| 7,205,443
1901-02........
19,090,202 172,263 515 79,316,037i 86,820.587 88,537.159 4,122,898
1900-01...
10.804.551 162.897.490 123,341,981 97.878 735 32,805,800! 3,308.490

The receipts o f flour and grain at the seaboard ports for
the w eek ended Feb, 7, 1908, fo llo w :

F
leur,

s iu le tia t—
tbit.
WiwYork...........112.768
Button,................... 66.111
Montreal.,,........ 8.033
Pallaaelpnia,........
77,318
Baltimore...........
66,976
sichmond...............
l,2C0
Sew Orle«n»*M....... 14,076
Newport New*.......
6,224
Norfolk................................
stelveiton.............................
Portland, Me........
4 631
Mobile-....................
671
St.John, N. B -....... 17.431
Total week.........
Week if 02.................

Wheat,

bulk.

344,850
76,288
24,799
16.8C5
63.920
48,250
105,000
187,100
102,875
315,217

C»r«.

bulk.
668.000

197,800
2.400
489,098
506,601
22,874
863,700
244,229
90,769
207,300

0*t«.
bui h.
493008
132,023
59,801
81,000
76,9;8
40,490
55,450

J3sri«*
b u lk

45,100
7,000
4,819
92.400
3,750

B ye,

bulk*
4.500

747

17,152

16,236
120,813

393 889 1.2S5.114 3,332.771 1,074,706
332 206- 719,928
463,278
715,703

S2.569 29,399
23,818 26,387
* Receipt* do not include grain sailing through New Orleam for foreign
portion through bill* of lading.

394

THE

CHRONICLE

[V ol. LXXVL

T ota l receip ts at ports from Jan. 1 6c Feb. 7 oom pare as ’
D o m e s t ic C o t t o n btooDts.— T h e e x p o r t *
c o t t o n goods
fo llo w s fo r fo u r years:
from t h is p o r t fo r th e w eek en d in g Feb. 9 w ere 5,413
1901.
1800.
1902.
1903.
Bscsiyt 072,193.140 packages, v a lu ed a t $197,734, t h e ir d e s tin a tio n b ein g t o the
2,801,992
2,109,045
•bbll. 2,277,893
points sp e cifie d in th e ta b le s b e l o w :
7,818,980
8.005,879
11,076 285
bath. 10,356,737
18,183,917
27,653 91H
"
14,924,841
2,826,681
Corn.....
1903.
1902.
7,238,488
4.850,826
7,514,065
5.336. 88
Oat*.......
Nbw Y obk to F eb 9.
1,671,960
301.765
978.102
*
•
8*8,876
Barley..
Week. Since Jan.1. heek. Since Jan. 1.
221,080
BS.885
"
299,982
216.380
Bye......
84,608,023 Great B r ita in ....... . . . . __ _
10,274,080
48,067,840
’* 31.800.069
Total grain.
9
197
108
304
64
187
5
327
T he exports from the several seaboard ports fo r the week Other European.. . . . . . . . . . . .
China.,
_____________
33,355
12,419
ending Feb. 7, 1903, are sh ow n in the annexed sta te m e n t:
[ D41A. tessee asssae ussss sssee* 1,178
847
3,167
4,114
Oats,
f lo u r ,
RVt,
Peat, J3orltt Arabia................................ .. . . . . . .
W h e a t,
C orn ,
6,364
1,924
Brvo r t s f r o m — b u s h .
a
bush.
busk.
b b le .
bush.
bush. bush.
Africa......... . ........................ .. . . . .
1,219
93
1,102
25,390
New T
~ork....... 845,778 238,911
43,338
895
311
548
4,195
3,059
West Indies.................... —.
190,012 127,106
2,400
B o ito n
4,497
32
M exico..................................
164
99
235
10,236
102,876
P o r t la n d , H e .
4,021
167
Central America.. . . . ___....
1,412
127
503
10,228 808,085 74,053
P h ila d e lp h ia ..
3,619
1,304
25,200
44,164
838,251
6,084
8,250
Baltimore.......
South Amerloa.............. .
3,806
11,689
New Orleans.. 1.74,898 789,548
102
331
1,341
946
_
OtherGountrlea._ . . . . . . . .
Norfolk..........
Newa'rt News
Galveston....... 225,000
Mobile............................
8 t. John.N.B. 815,217

90,700
214,299
400,650

Total w eek..1,370,108 2,604,955
Same time’02.. 1,828,038 177,680

"0,224
2,040
571
17,481

120,813

209,244
254.090

108,060
25,200
42,074 ..............

895
88,026

....

000

The destination o f these exports fo r the w eek a n d sine*
J u ly 1, 1908, is as b elow :
-Flour-------- , ,------- Wheat.------Bseports for
W eek
Week Since July Week Since July
Sines July
week and einte F e b , 7. 1. 1002.
Feb. 7. 1, 1902.
Feb. 7.
1, 1902.
Xsvt. 1 tob b le .
bush.
bble.
busk.
busk
tu sk .
ETnlted Kingdom 128,500 0,838,503 1,019,808 47,203.841 1,807,574 14,025,350
Continent...........
8. & C. America.
W ilt Indies......
Ur.N. Am. Colo’s
Other countries

40,678 1,840,478
0,408
685.839
764,072
18.024
1,994
180,905
18,140
601,865

Total................ 209,244 10,207,755
Total 1961-02.... 264,096 9,774.232

293,180 85,630,813 1,285,480 9,827,554
1.O03
08,603
1,423
8,357
7,430
474,025
250
1,600
8,604
170,492
4,808
468,833
1,295,402
56,644

1,370.109
1,823.038

84,045,853 2,604.955 26.019,808
94,804,760
177.581 180,933,775

T he visible supply o f grain, com prisin g the stock s la
granary at the principal points o f accu m u lation at lake and
seaboard ports, F eb. 7,1908, was as fo llo w s :
Wfcsat,
By t,
Borin
Osrn,
Pets,
bush.
bush.
hush
bush.
bush.
NSW York............
218,000
403.000
475,000
31,000
Do afloat...
47,000
Boiton.......... .
10,000
218,000
PaiiadeiDbia.......
106.010
" 2,000
209.000
Baltimore.............
113,O P
O
119,000
1,190.000
Bsw Orleani....... .... 708.000
815.000
Galveston ....... .
872,000
Montreal....... ..
91.000
89,000
4.000
73,000
Toronto......... ..
5,000
■uflalo...............
88.000
72,000
083,000
Do
afloat.. . ... 200.000
....... .
Toledo
317,006
' 18,000
810,000
Do
afloat...
Setrolt................
76,000
69,000
32,000
67,000
Do
afloat...
685.ooq
Gkloago............... .... 7,289.000
2,807.000
" i.ooo
838,000
Do afloat...
170,000
307.000
Milwaukee..........
44,000
390.000
'24,‘66o
279.000
Do
afloat...
Ft.W111’mA Pt.Arthur 8,652,000
Dulnth................
Do afloat...
M inneapolis.....
St. Lottie..............
Do afloat...
Kansas City........
Peoria..........................
818,000
Endianapoli*................ 288,000
On Mississippi Hirer. ............
On Lakes.......................................
On canal and rirer......................
Total
Total
Total
Total
Total

Feb.
Jan.
Feb.
Feb.
Feb,

7.1903..
81, 1903..
8, 1902..
9,1901..
10.1900..

THE

48,429,000
48,447,000
86,668.000
58,404.000
53,964,000

DR Y

6,413

Total.......... .. .................

1.000
99,000
693.000
926.000
613.000
438.000
108.000
103,000

690.666
1,123 000
91,000
121.666
820.000
10,000

03,000
97.000
24.000

9.510.000 4.725.000
8.200.000 4.030.000
11.680.000 4.418.000
10.051.000 10,8d ,000
O
14.709.000 5.963.000

929.000
095.000
8.865.000
1.205.000
1.126.000

GOODS

07,666
1.000

3 521

59,486

31,412

T he valu e o f these N e w Y o r k e x p o r ts since Jan. 1 to date
has been $2,497,747 In 1903, a g a in st $1,457,660 in 1902.
Business in b row n sheetings and drills has been alm ost en
tirely confined to the hom e trade, but it has reached con sid er
able proportions. The export dem and has been indifferent.
Sellers o f b row n cottons are very firm , and leading makes
o f 4-yafd sheetings have been advanced to 4 ^ e . per yard for
56x60s. D ack s con tin u e firm. A dvances o f 5 per cent have
been general in w ide sheetings, w h ich are in a very strong
position, and an occasional 5-per-cent advance has also been
made in sheets and pillow cases. Bleached m uslins are in
g ood request at fu ll prices in all grades, but are not quotably higher, although there are indications o f a tendency to
m ove against buyers. Canton flannels are 5 per cen t higher
in some lines and cotton blankets are very firm. Staple
lines o f dom ets are heavily sold ahead and tending upwards
in price. Denims, cheviots, cham brays and other coarse
colored cottons show occasional advances o f J^c. per yard.
A m erican prints opened the w eek w ith an advance o f J^c.,
and since then prints quite generally have m oved np in keep
ing therewith, and business is doing at the advance. There
has been no change in the m arket fo r fine printed fabrics,
only a m oderate dem and fo r these com in g forw ard . T h e
gingham situation is still strong, but w ith ou t new feature of
mom ent. P rint cloths have not changed fro m the basis o f
33^c. for regulars, b u t m anufacturers are v ery difficu lt to
deal with.
F oreign D r y G oods .— The dress goods division show s a
fair business in high-grade goods at firm prices. Silks and
ribbons continue firm . Linens in fair dem and at fu ll prices.
Burlaps firm w ith lim ited stocks.

808.000
I m p o r t a t i o n s a n d W a r e h o u s e W i t h d r a w a l s ot D r y Goods
444,000
4,000
The im portations and w areh ou se w ith d raw als o f d ry goods
a t th is p ort fo r the w eek en d in g F eb. 12, 1903, and sinoe
January 1, 1903, an d fo r th e co rre sp o n d in g period s o f last
year are as fo llo w s :
H
K
H OH
© *t©
1,895,000

TRADE.

NBW Y o b k , F r i d a y , P . M ., Feb. 18, 1903.
A 1large num ber o f buyers have availed them selves o f the
M erchants’ A ssociation E xcursion P rivileges, and the m a r 
ket has presented a very busy appearance du rin g the p a st
week. Jobbers have had an excellen t trade, and at first
hands m ore business has been tendered than sellers h a ve
been able to accom m odate. In the latter con nection it has
again to be reported that in nearly all divisions o f the c o t
ton goods m arket scarcity o f ready supplies continues a
prom inent feature. There is no evidence that p rod u ction is
otherw ise than fu ll, yet good s d o not accu m u late, and if a
larger supply were com in g forw a rd unsold than at present,
it w ould be readily taken care of. In the m atter o f fo r w a r d
business sellers are very cautious, their attitude being m ate
rially influenced by the decided strength o f the m ark et fo r
ra w material. The strength o f the market is show n by the
advances in prices made day b y day affecting such a v a rie ty
o f goods as prints, w ide sheetings, brow n cottons, canton
flannels and coarse colored g ood s—a w ider range o f advances
than seen in any one week fo r a lon g tim e past. A g ood
m arket is also reported in w oolen and w orsted fabrics.
W oolen G oods .—A lth ou g h a large volu m e o f business
has been booked in m en’s-w ear w oolens and worsteds fo r
fall, there Is still a g ood dem and in the m arket, w ith the
significant feature that som e o f the earliest purchases have
been adding to th eir initial orders, B ayers are, h ow ever, as
a rale still holdin g them selves w ell in hand, so that general
con ditions are decidedly healthy. G oods m ost in fa v o r are
gradully getting sold up and a num ber o f leading lines have
been w ithdraw n from sale. T he tone is very firm fo r nearly
all staple varieties o f ^both w oolens and worsteds. F ancies
w h ich have been in ch ief request, such as m edium grades,
are also firm ; but outside o f these there is som e irregu larity.
Staple dress goods have been in fair request fo r fall and are
as a rule quite firm in price. Fancies in w oolen lines have
also sold in fair quantities.
There has also been a fa ir de
m and fo r cotton and w orsted plaids.

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THE

February 14, 1903,]
S ta te

a u d

’i ' T x j e

C it y

CHRONICLE

D e p a r t m e n t .

C h r o n ic l e .

PUBLISHED WEEKLY.

Term s o f S u bscrip tion — P ayable in A d v a n ce :

395

B o n d P r o p o s a l s a n d N e g o t i a t i o n s this
week have been as follows :
A labam a.— Acts o f the State Legislature.— W e give below
various bond bills w hich have been under discussion in the
State Legislature, giving the present status o f the same.
Bills I ntroduced .
A bjsrville C o . - A uthorizing loaD.

Court H ouse School D istrict , Chester Co.—Authorizing oonpon
bonds.
E asley School D istrict —Au th o r in g coupon bonds.
Enterprise - 8. B. No. 1 5 6 -Authorizing $20,000 water and light
bonds.
G reenw' ood School D istrict —Authorizing oonpon bonds.
H untsville —H. B. No. 290—Authorizing $20,000 eleotrlo-llghtThe Investors1 S upplement Is furnished without extra c h a r g e to
every annual subscriber of the Commercial and F inancial Chronicle . plant bonds.
K ershaw Co . School District No. 1—Authorizing refunding
The State and City Supplement Is also furnished w ith o u t e x tr a
school bonds'.
tharge to every subscriber of the Chronicle.
L oose and Pickens Towt
nships—Legalizing bonds.
The Street R ailway Supplement Is likewise furnished w ith o u t
Mobile—H. B. No. 88—Authorizing bonds.
txlra charge to every subscriber of the Chronicle.
bpartanburg -BUI to legalize street-improvement bonds.
The Bank and Q uotation Supplement, issued monthly, Is also fur
nished without extra charge to every subscriber of the Chronicle.
B ills Passed by H ouse.
L iberty County—H. B. No. 260—Creating new county out of coun
Term s o f A d v ertisin g —(P e r Inch Space).
ties Henry, Dale and Geneva.
Transient matter (each time) $4 20 Three Months (13 times). ..$ 2 9 00
B ills P assed by Legislature .
Six Months
(26 times)... 50 00
STANDING BUSINESS CARDS.
St . Clair County—H. B. No. 76—Authorizing election to vote bonds.
Two Months (8 times)..........$22 00 Twelve Mon hs (52 times)... 87 00
For One Year, including all S u pplem en ts ..........................................$10 00
For Six Months.................................................................................... 0 00
European Subscription (including postage)................................... 13 00
European Subscription Six Months (Including postage)............... 7 50

A lban y, N. Y.— C orrection.—The price paid on February 6
by the Bingham ton Savings Bank for the $35,000 %%% schoolconstruction and the $29,000
grade-crossing nonds was
Post Office Box 958.
N E W Y O R K . 10P02 and not 102'02, as stated last week. The awards o f the
im provem ent bonds were as given last week.
A ppleton , W is.—B ond E lection.— A t the com ing spring
B rid g ep ort, O kla.—Bond L itigation .—This tow n recently election in A pril the question o f issuing $280,000 waterby five votes authorized the issuance o f $22,000 water bonds.
plant bonds w ill be submitted to a vote o f the people. This
The issuance o f these bonds, we are advised by Samuel Sel- election is necessary, as a recent ruling o f the Supreme
biger, attorney-at-law, has been tem porarily enjoined in a Court permanently restrains the City Council from issuing
suit brought by Mr. C. M. Cresse, T ow n Treasurer, and oth
the bonds unless the question be first voted upon, favorably
ers. These bonds were proposed to be issued under an A c t
by the people.
o f Congress o f M arch 4, 1898, amending an A c t o f Ju ly 30,
A rizon a .—B ids.— F ollow in g are the bids received Janu
1886, so as to “ permit, authorize and legalize the issuance o f
ary 30 fo r the $29,000 5£ te n d in g bonds awarded, as stated
bonds by chartered municipal corporations having a bona
last week, to Seasongood & Mayer, C in cin n a ti:
fide population o f not less than 1,000 persons as shown by the
4)$8......
P. Kraft, Red 1for 4-40s.. .|2e,00<T00
last school census ” —this A c t requiring an election and a Seasongood & 5lor6s............ J30.237 76 I C.Bluff.................( for 6s......... 81,800 00
Mayer.-........( for
31,*ilH70
E. H. Rollins & Sons, for 6s. 29,977 30 1New 1st Nat, Bank, for 5b.... 29,660 00
tw o-thirds vote to authorize. The grounds fo r the suit are
stated to be as follow s :
A sbury P ark , N. J .—Bond Sale.—Of. the $300,000 1% 30First—Because the A ct of 1898 cannot apply to B ridgeport, year beach-front and sewer bonds offered for sale on F eb
as that tow n has no independent school w hereby an official ruary 9, $75,000 were awarded to A lbert R obertson o f Pottscensus of school children could be taken, the tow n bein g a ville, Pa., at 104. For description o f bonds see V . 76, p. 342.
part of School District N o. 3, which covers territory tw o
B a rn esy ille, O hio.— Ponds Not Sold.—N o bids were re
miles beyond the lim its o f the tow n ; also because it is be ceived February 11 fo r the tw o issues o f street-im provem ent
lieved that the statute means there must be 1,000 sch ool bonds described in V . 76, p. 223.
children, whereas the tow n proper has only about 800 in h a b 
B edford , P a.—Bond Sole.—This borough has sold to old
itants all told.
bondholders and others, at par, an issue o f $6,000
5-10Second—It is claim ed that sufficient illegal votes w ere cast year (optional) refunding water bonds.
Denom ination,
to change the result of the election.
$500. Date, Jan. 1, 1903. Interest payable in Bedford.
M innesota.— Township R oad B onds.—The Senate has
B elyiew , R edw ood County, M in n .— Bond Offering.— P ro
passed a bill authorizing townships to issue road bonds at posals w ill be received until 8 p . m ., Feb. 28, by F. Hallberg,
not m ore than
interest. A m ount o f bonds issued m ust not V illage R ecorder, for $1,000 0$ 7 and 8-year fire apparatus
exceed 15# of the assessed valuation o f the taxable property bonds. Denomination, $500. Interest, annual.
in the township.
B ilo x i, Miss.—Bonds Aw arded.—The City Council on
New Y ork C ity.—Sinking Fund B ill.—The bill advocated February 4 awarded the $18,000 5% water-extension bonds,
by City Com ptroller G rout perm itting N ew Y ork City to use bids fo r which were received on Jan. 15, to F. R . F nlton &
its surplus sinking-fund revenues—aggregating, it is said, C o., Chicago, fo r $18,285 and interest. A list o f the bids
between eight and ten m illion dollars a year—and reduce the w ill be fonnd in the C h r o n i c l e Jan. 24.
tax rate by that amount, passed the Senate w ithout disenssion
B ird Isla n d , M inn.—Bonds Not Voted.— W e are advised
on February 9.
that the item goin g the rounds o f the press that this village
Yazoo City, M iss.—Decision in W a ter Bond C ase.— The on January 27 voted to issue $8,000 w ater-works bonds is in 
New Orleans “ P ica y u n e” recently contained the fo llo w in g : correct. The vote was only to use $8,000 on hand in the
Y azoo Cit y . Miss., Feb. 4.—Information was received to-day by the attor treasury fo r the purpose.
neys for the Yazoo Improvement Company that Chancellor Conn had decided
B o w lin g Green, Ohio.— Bonds A uthorized.—The issuance
In favor of the Improvement Company and against the city Issuing bonds for
the erection of a water works system. As will be remembered, the City Coun o f $6,600 5% refunding bonds has been authorized.
cil ordered the issuing of bonds for this purpose, the same haring been sold to
B ro o k lin e ,
aid o r B onds.— W
Atlanta, all
f arties in Cincinnati and The city will of whicli was protested against by the vised that the Mass.—P rice Pthe Cfom m onwealth eo f are ad
mprovement Company.
carry the case to the Supreme Court.
price paid by
Massa
See C h r o n ic l e N o v . 22 and N o v . 8, 1902.
chusetts for the $120,000 3%% bonds, described last week,was
par.
C aledonia In d ep en d en t S ch ool D istrict No. 42, H ouston
B o n d C a lls and R e d e m p t i o n s .
County, M inn.—Bond Offering.—Proposals w ill be received
Mason Connty, W ash.—B ond Call.—T. W . M cDonald, until 8 p . M., A pril 1,1903, by F. H. Evans, Secretary Board o f
County Treasurer, called for payment January 22 bonds Nos. Education, for $20,000 4$ bonds. Denomination, $500. Date,
1 to 11, inclusive, issued N ov. 1, 1891.
A pril 1, 1908. M aturity, $1,000 in five years, and $1,000 each
M issouri.—B ond Call.—The Fund Commissioners o f M is year thereafter—all bonds to fall due within tw enty years.
souri call for payment February 28 at the M erchant’s-L a Certified check fo r 5% o f bid, payable to W alter G oergen,
clede National Bank o f St. Louis or at the National Bank o f District Treasurer, required.
Commerce in New Y ork City the follow in g
5-20 year
C arthage, 111.—Bond Sale.— This place has sold to local
(optional) bonds o f $1,000 each : Nos. 5586 to 5588, 5824 to parties $6,000 5% paving bonds.
5838, 5914 to 5928, 5929 to 6013, 6614 to 6813, 6816 to 6953 and
C elina, O hio.—Bond Offering.— Proposals w ill be received
6965 to 7000, all numbers inclusive.
until 1 p . m ., March 2, fo r $12,339 4% W est Fayette Street
New Orleans, La.—Prem ium Bonds D raw n.—The fo llo w  im provem ent bonds. M aturity, one bond o f $822 00 yearly
ing premium bonds of tbe city o f N ew Orleans were drawn on January 2 from 1904 to 1918, inolusive. Interest payable
by lot on Jan. 31, 1903 (for payment July 15, 1903), this being at office o f City Treasurer.
the one hundred and ninth allotm ent: Series 657, 806, 1048,
C in cin n ati, Ohio.— Bonds P roposed.— The issuance o f $22,1098, 2767, 3090, 8418, 3789, 3886, 4061, 4212, 4347, 4410, 4506, 000
25-year bath-house bonds is being considered.
4592, 5024, 5046, 5117, 5356, 5450, 5699, 5879, 5909, 5927, 5937,
Bond Sale.—The Board o f Sinking Fund Trustees on Feb.
6090, 6323, 0852, 0432, 6489, 6574, 6767, 6785, 6912, 6937, 7453, 3 purchased $88,000 street-assessment bonds o f this city.
7466, 7577, 7882, 7882, 7964, 8224, 8569, 8591, 8810, 9089, 9180,
Bonds Authorized.—The Board of Legislation on February
9485, 9646, 9707. Series Nos..6784to 10,000 were never issued. 2 passed an ordinance providing fo r the issuance oi $1,000,P arkersburg, W. Va.—Bond Call.—Jesse L. Cramer, City 000 park bonds.
Clerk, called for payment February 1 at the office o f the City
Cleveland, Ohio.— Bond Offering.—Proposals w ill be re
Treasurer the follow in g refunding w ater bonds, Series “ G :” ceived until 12 M., March 16, by J. P. Madigan, City A uditor,
Nos. 376 to 380, inclusive, each for $1,000.
for $25,000
Sewer District N o. 15 and $200,000 4£ water
Salt Lake County, Utah.— W a rra n t Call.— W illiam O. works coupon bonds. Denomination, $1,000. Date. A pril 1,
Carbis, County Treasurer, called fo r payment February 5 at 1903.
Interest semi-annually at the Am erican Exchange
his office all registered connty warrants presented fo r pay National Bank, New York City. M aturity, A pril 1, 1913. A
ment prior to Feb. 3. 1903, and under register number 58,993. certified check on a national bank for 5g o f amount bid for,

W IL L IA M B . DANA COMPANY, Publishers,
P ine Street, corn er o f Pearl Street,

396

THE

CHRONICLE.

payable to the order o f the City Treasurer, is required. Bids
must be made on blanks obtained from City A uditor. P ur
chaser to pay accrued interest.
Colum bus, O hio.—Bonds A uthorized.—The City C oun cil
on February 2 passed an ordinance providing fo r the issu
ance o f $8,500 4£ park-im provem ent bonds. Denom ination,
$500. Date, March 1, 1903. Interest semi-annually at the
offioe o f the City Treasurer. M aturity, March 1, i933; op
tional after March 1, 1913.
C orning, N. Y.—Bonds A uthorized.—The C om m on'Council
recently authorized the issuance o f $90,000 bonds fo r the fo l
low in g purposes: $25,000 to meet deficiencies in the c ity ’s
funds, $40,000 for sewers, $15,000 to pay city ’s share o f cost
o f re-building G ulbron Bridge and $10,000 fo r increased fire
protection.
C ulver (End.) Sch ool D is tr ic t.—Bonds Proposed.—Senate
B ill No. 259, now before that body, authorizes this district to
issue school-building bonds.
C um berland County, N. C.—Bonds
P roposed.—This
county has decided to ask the Legislature for authority to
issue $40,000 6# 30-year road bonds.
Dayton (K y .) S ch ool D istrict,—Bond Offering.— Proposals
w ill be received until 8 p . m ., February 17, by R . L. K im 
berly, Secretary Board o f Education, for $20,000 H bonds.
A uthority, 8 ection 157 o f the State Constitution and Sections
3588 to 3606, inclusive, o f the Revised Statutes o f K en tu cky;
also by vote of 508 to 124 at election held Nov. 4, 1902. De
nomination, $500. Date, A pril 1, 1903. Maturity, $5,000 in
5, in 10, in 15 and in 20 years after date.
D elaw are, Ohio.—Bond Offering.—Proposals w ill be r e 
ceived until 12 m ., March 14, by E. E. Naylor, City Clerk, for
$660 5% street-im provem ent bonds. Denomination, $165.
Date, A pril 1, 1903. Interest annually at office o f City
Treasurer. M aturity, one bond yearly on March 1 from
1904 to 1907, inclusive.
D elh i, O hio.—Bond Offering.— Proposals will be received
until 12 m ., March 7, by C. B. Davis, V illage Clerk, fo r the
follow in g bon d s:
1866 26 6% 1-10-year (serial) Hamer Street sidewalk bonds. Authority, Sections
2831 a b and c, Revised Statutes ol Obio. Date, Jan. 19, 1903.
742 00 5% 20-year debt-extension bonds. Authority, Section 2701, Revised
Statutes of Ohio Date, Feb. 5.1903. Interest, semi-annual,
865 26 6% Hamer Street sidewalk bonds (village’s proportion), maturing $500
listen [years and »36o,26 in five years. Authority, Sections 2334 a, b
and c, Revised Statutes of Ohio. Date, Feb. 13,1903.

Interest w ill be payable at the Tnird National Bank o f Cin
cinnati. Certified check fo r 2% o f the aggregate o f bonds,
payable to V illage Treasurer, required with each issue.
D exter, M ich .—Bond E lection .—A n election w ill be held
M arch 9 to vote on the question o f issuing $8,000 lightingplant bonds.
D uluth, M inn .—Certificate Issue.—' his city w ill issue
T
$33,000 4g temporary certificates o f indebtedness, which
securities w ill be taken by the sinking fund o f the oity.
Durham , Ont.—Debenture Offering.—Proposals w ill be re
ceived nntil February 18 by Norman M’lntyre, M ayor, for
$2,500 4g debentures, maturing part yearly for tw enty years;
also $153 1% 20-year local-im provem ent debentures.
Dutchess C ounty (P . 0 . P ou gh k eep sie), N. Y.— Bond Sale.
— On February 4 the $65,000 3%% additional court house and
jail bonds described in the C hronicle Jan. 24 were awarded
to Isaac W . Sherrill o f Poughkeepsie at 101’67. F ollow in g
are the bids :
I. W. Sherrill, Poughkeepsie_ 10P671 I N . W. Harris & C o ., New York. ,K)0'57
_
W. J. Hayes * Sons,Cieveland*101'79 Edmund Seymour & Co., N. Y..10O-18
Farson, Leach & Co., New Vork.101‘65 I Lamprecht Bros. Co., Cleve...... 100‘C
O
* Bid said to be conditional and rejected. '

Eastham pton, Mags.—Bonds Proposed.—The issuance of
$100,000 sewer bonds is provided for in a bill now before the
Legislature.
Escanaba, M ich .— Bond Offering.— Proposals w ill be r e 
ceived until 8 P. m ., February 16, by H. J. Robertson, C ity
Clerk, for $50,000 4£ gold gas and electric light bonds. De
nomination, $500. Date, Jan. 1, 1903. Interest] semi-annaally at the First National Bank o f Chicago. M aturity, $5,000
yearly on January 1 from 1904 to 1913, inclusive. Certified
check for $500, payable to Nelson Nelson, City Treasurer,
required.
Essex County, N. J .—Bond Bill Passes Senate.—Senate Bill
No. 30, allow ing an additional issue o f from $400,000 to $500,000 bonds to com plete the court-house, has passed the upper
branch of the Legislature.
F lathead County (M o n t.) Free H igh S ch ool D is tr ic t.—
Bond Sale.—The $20,000 4% 10-20-year (optional) bonds offered
fo r sale on January 27 have been awarded to the Union Bank
& Trust Co. of Helena, acting for R udolph K leybolte &
C o., Cincinnati, at par. F or description o f bonds see V . 76,
p. 224.
F o rt D odge, Iow a.—Bond Sale.—On February 2 the $25,000
4# 10-20-year (optional) funding bonds described in V . 76, p.
282, were awarded to Otis, W ilson & C o., Chicago, at 102'253,
F ollow in g are the bids :
Otis, Wilson & Co., Chicago .$26,563 40 I American Trust & Sav. B’k. .$25,257 60
MacDonald,McCoySCo„>Oht. 26,370 00 I W. J. Hayes & Sons, Cleve... 25,257 00
Thompson, Tenney * CrawI R. Kleybolte & Co.. Clnctn... 26,200 00
lord Co., Chicago........
... 25,815 00 Trowbridge & NiverCo..Cnlo. 26,167 0 0
Denison, Prior & Co.. Cleve.. 25,280 0 0 | Farson, Leaeh <cCo.. Chio.... 25,130 00
f
G.:M. Bechtel & Co..Dav’port. 26,276 00 |F. L. Fuller & Co.. Cleve ... 26,000 00
First Nat. Bank, Chicago...... 25,262 50 S. A. Kean, Chicago................ 25,000 00
N. W. Harris & Co., Chicago. 26.261 00 1

F rem on t, O hio.—B ond Sale.— On February 3 the $5,500
street-im provem ent bonds described in the C h r o n ic l e Jan,
24 were awarded to Rudolph K leybolte & Co., Cincinnati, at
100-218.
Geneva, O h io.—Bonds Aw arded.—The $5,000 5% w ater
bonds, bids for which were opened January 27, have been

[VOL. LXXVI.

awarded to the State Savings Bank Co. o f Toledo for
$5,047 50. W h ile the bid o f the Toledo institution was not
the highest, it was deemed the best by the Village Council,
as the others were considered m ore or less irregular.
G lou cester, Mass.—Tem porary L oan.—This city has bor
rowed $100,000 from Bond & G oodw in of^Boston at 4%. Loan
matures in nine months.
G reene County, T enn.—B ond E lection.—A n election w ill
be held in this cou nty to vote on the issuance o f $150,000
20-year bonds. The date originally fixed for this election
was March 5, 1908, but an error in the call for said election
necessitated a postponement.
G reenfield, Mass.—Loan Proposed. —A loan o f $40,000]for
school purposes is being considered.
H a rrisb a rg , P a .—Bond Offering.—Proposals, according to
local papers, w ill be received until February 25 by City
Com ptroller Henry W . G ough fo r $362,000 im provem ent
bonds. Denominations, 360 o f $1,000 and 20 o f $100 each.
Date, Sept. 1, 1903. M aturity, $180,000 in five years and
$36,400 yearly thereafter,
H arrison , O hio.—B ond Election.—A n election w ill b eh eld
February 16 to vote on the question o f issuing $25,000 4g
electric-light and water-works bonds.
H artford (C on n.), W ashington S c h o o lfD is tr ic t.—Bonds
Proposed.—This district seeks legislative authority to issue
$20,000 bonds.
Hennessey, O kla.— Bond Sale Postponed —W e are advised
that the sale o f the $10,000 6£ 30-y ear water bonds w h ich
were to be offered on January 26 has been postponed in 
definitely.
J efferson C ity (M o .) S ch ool D istrict.—Bond E lection —
A n election w ill be held February 17 to vote on the question
o f issuing $80,000 4g 5-20-year (optional) bonds. Denomina
tion, $500. Date, July 1,1903, Interest semi-annually at the
National Bank o f Com m erce, St, Louis.
Jersey City, N. 3 —Bond Offering.—F ull details are at
hand relative to the sale on February 18 o f $500,000 3% gold
refunding coupon w ater bonds. Proposals for these bonds
w ill be received until 3 p. m . on that day by the Board o f
Finance. Date o f bonds, Sept. 1, 1902, and same w ill be de
livered to purchasers on March 1,1903. Interest w ill be pay
able semi-annually in gold. P rincipal w ill mature Sept. 1,
1932. Each bid must be accom panied b y a certified check
for 2%o f the par value o f the bonds bid fo r, payable to the
City Treasurer. Bonds are exempt from taxes. George R.
Hough is City Comptroller.
Johnstow n, O hio.— Bond Offering.—Proposals w ill be re
ceived until 12 m ,, February 21, by H. G . G orsuch, V illage
Clerk, for $12,000 4g water bonds. A uthority, election held
A pril 7, 1902. Denomination, $500. Date, Feb. 28, 1903
Interest, semi-annual. M aturity, $500 yearly on February 28
from 1904 to 1927, inclusive. Either money or a certified check
for $500 required.
Kansas City, Mo.— Bond Sale—On February 4 the $257,086 59 park fund certificates described in the C h r o n ic l e
January 24 were awarded to R. M. G oodlett, Kansas City, at
102-50 and interest. F ollow in g are the bids :
R. M. Goodlett. Kansas City. ...102‘60 I Fidelity Trust Co.JKansas City.100-26
New 1st Nat, B’k, Columbus_ li0'055 |Nat. B’k of Comm’ce, Kau. City.lOO'OO
_

Kennedy H eights, O h io.— Bond Offering.—Proposals will
be received until 12 m ., March 12, by H. H. Grant, Village
Clerk, at the office o f O. W . Bennett, A ttorney, Room 13,
Allen Building, Cincinnati, for $5,000 3% sidewalk bonds. De
nomination, $500. Date, March 2, 1908. ^Interest, semi-an
nual. Maturity, 20 years.
Kent, W ash.—Bids Rejected.— AW bids received February 2
for $23,500 refunding bonds were rejected by the Town Coun
cil.
Lake P ark , M inn.— Bond Offering,— Proposals w ill be re
ceived until 8 p. m . March 2, by Ole Larson, V illage R ecorder,
for $11,000 3% water and light bonds. Denom ination, $500.
Date, March 2, 1903.
Interest, semi-annual.
M aturity,
March 2,1918. Certified check for $500, payable to V illage
Terasurer required.
Lakew ood H am let S p ecial S ch ool D istrict, O hio.—Bond
Offering.—Proposals w ill be received until 7:30 P. M., M arch
3, by M aurice W elfare, Clerk Board o f Education, fo r $75,000
bonds, A uthority, Sections 3991 to 3993, inclusive,
Revised Statutes o f Ohio, and election held Jan. 26, 1903.
Denomination, sixty for $1,000 each and tw enty for $750
each. Date, March 3, 1903, Interest semi annually at the
A m erican Trust C o,, Cleveland. Maturity, $3,750 yearly on
October 1 from 1904 to 1923, inclusive. Certified national
bank check fo r $1,000 required.
Lancaster, Ohio.— Bond Offering.— Proposals w ill be re
ceived until 12 M., March 9, by H. T. Mechling, City C lerk,
for $20,000 i.% refunding city-hall bonds. A uthority, Section
2701, Revised Statutes o f Chio. Denom ination o f bonds,
$1,000. Date, Feb. 1, 1903. Interest, sem i-annually at o f
fice o f City Treasurer. Maturity, $5,000 Feb. 1, 1911; $5,000
Feb. 1, 1912; $5,000 Feb. 1, 1913, and $5,000 Feb. 1, 1914.
A ccrued interest to be paid by purchaser. Certified check
for $200, payable to J. B. Kram er, City Treasurer, required.
Lancaster (P a .) S ch ool D is tr ic t.—Bonds A uthorized .—
The School Board has authorized the issuance o f $100,000
bonds for the erection o f a g irl’s high-school building.
L aurel, D el.—Bonds Proposed.—This tow n desires legis
lative action to enable it to issue refunding bonds.
Lewes, D el.—Loan Proposed.—This place seeks legislative
authority to borrow $20,000 fo r sewers and for the im prove
ment o f the electric-light plant.

THE

F e b r u a r y 14, 1903.j

C H R O N IC L E

Lewiston, Nez Perce County, Idaho.— B o n d O fferin g.—
Proposals w ill be re ce iv e d u n til 12 M., M a rch 9, b y C has. L.
McDonald, C ity C lerk , fo r $60,000 10-20-year (o p tio n a l) g o ld
w a ter bon d s.

A u th o r ity , v o te o f 227 t o 27 a t th e e le c tio n

held Ja n . 16, 1908, D e n o m in a tio n , $1,000. D a te , Ja n . 1,
1903. In terest (n ot t o e x c e e d 5#) w ill be p a y a b le J a n u a ry 1
and J u ly 1 at office o f C ity T re a su re r o r in N e w Y o r k C ity .
An u n c o n d itio n a l c e rtifie d c h e c k fo r 5# o f th e a m o u n t o f
bonds b id fo r req u ired .
Lexington (Ky.) School District.— B on d s V a lid .— B on d
Offering . — T h e C o u rt o f A p p e a ls has su stain ed th e v a lid ity o f
the $75,000 4# s c h o o l-b u ild in g b o n d s v o te d a t th e e le c tio n
h eld la st N o v e m b e r . T h e B o a rd o f E d u c a tio n has n o w ,
th e r e fo re , a u th o r iz e d th e issu a n ce o f th ese b on d s, b id s to be
rece iv e d on o r b e fo r e A p r il 15, 1903. D e n o m in a tio n , $1,000.
D ate, M a y 1, 1903. In te r e st, sem i-a n n u a l. M a tu r ity , 30
years. See C h r o n ic l e F e b . 7, 1903, an d N o v . 29 , 1902.
Lima, Ohio.— B o n d dale .— W e g iv e b e lo w th e bids re ce iv e d
F e b ru a ry 9 fo r th e $150,000 4# w a te r an d th e $75,000
fu n d in g b o n d s d e s cr ib e d in th e C h r o n ic l e J a n . 17 :
$150,000
W a t e r B o n d s.

N. W . H a rris & C o.. C h ica g o .....................................$155,608 00
New F irst N a tion a l Bank, C olu m b u s...........................................
W ell, R o th A Co.. C in cin n a ti................................... 160,345 00
State S avin gs B ank C o., T o le d o .....................................................
S. K u h n A Sons, C in cin n a ti...................................... 150,340 00
L a m p re cb t B ros. C o.. C lev ela n d ............................ 150,027 00
P . S. B riggs A Co.. C in cinnati..........................................................
C incinnati T ru st C o .................................................... 150,027 00
R . K le y b o lte A Co.. C in cin n a ti.......................................................
F. L. F u ller A Co., C levelan d .............................................
W . J. H a y e s & Sons. C le v e la n d .....................................................
S. A . K ea n , C h i c a g o ..........................................................................
Spitzer A C o ., T o le d o ........................................................................
8 ea so n g o o d A M ayer, C in cin n a ti............................ 150,000 00
D en ison , P r io r A C o., C le v e la n d ............................ 150,000 00

$75,000
F u n d in g B ds.

$79,003 00
78,510 00
78,412 00
78,410 CO
78,405 00
78,390 00
78,240 00
78,050 00
78.037 50
77,647 50
77,565 50
78,875 00
76,760 00
76,000 00

Lincoln County (P . 0 . Brookliaven), Miss.— B o n d S a le .—
T h e $20,000 4% # c o u n t y -ja il b on d s m e n tio n e d in th e C h r o n 
ic l e N o v . 22 h av e b een so ld t o N . W . H a rris & C o ., C h ic a g o ,
at 102*135 an d in terest.
Long Beach, Cal.— B id s .— F o llo w in g are th e b id s r e c e iv e d
F e b r u a r y 2 fo r th e $35,000 5# 1-40-year (seria l) s e w e r b o n d s
a w a rd ed , as stated last w e e k , t o th e F ir s t N a tio n a l B a n k o f
L o n g B ea ch :

897

Montpelier, V t . — T em p ora ry L o a n .— T h is c it y has b o r 
r o w e d $10,000 te m p o r a r ily a t %%% fr o m th e C a pita l S a v in g s
B ank o f M on tp e lie r fo r b r id g e p u rposes.
Monnt Pleasant, Westmoreland Connty, Pa.—B o n d O ffer in g .— P ro p o sa ls w ill be r e c e iv e d n n til 8 p . m „ F e b r u a r y 23,
b y W . W . C a m p b e ll, B o r o u g h S ecreta ry , fo r $16,000 4# sew er
b on d s. D e n o m in a tio n , $500. In terest, J a n u a ry 1 a n d J u ly 1
at th e office o f th e B o r o u g h T rea su rer. M a tu r ity , $500 y e a rly
on J u ly 1 fr o m 1905 to 1910, in c lu s iv e , an d $1,000 y e a r ly on
J n ly 1 fr o m 1911 to 1923, in clu s iv e . C ertified c h e c k fo r $250
req u ired .
Nelson, B . C .— D eben tu re O fferin g .— A s sta ted la s f;w e e k ,
p rop osa ls w ill be re ce iv e d n n t il 4 p. M,, M a rch 16, b y J. K .
S tra cn a n , C ity C lerk , fo r $150,000 e le c tr ic -lig h t -e x te n s io n
d eb en tu res. T h e d e n o m in a tio n o f th ese se cu ritie s is $1,000.
D ate, A p r il 1, 1903. In terest 5#, p a y a b le sem i-a n n u a lly . M a
tu r ity , tw e n ty years.
New Bedford, Mass.—B o n d S a fe.— On .F e b r u a r y 6 $120,000
20-year g o ld sch o o l-h o u s e an d $80,000
10 y e a r g o ld
im p ro v e m e n t b o n d s w e r e a w a rd e d t o N . W . H a rris & C o .,
N e w Y o r k , a t 102*637 an d 101*217, r e s p e c tiv e ly . F o llo w in g
are th e b i d s :
$80,000 Bds.
$120,000 B o n d ?.
....
...
...
...“
....£
___
....
....

N, W . H arris A C o.. N ew Y o r k .
E sta b ro o k * C o.. B o s to n .............
R . L . D ay A Co., B o s t o n ... .......
M errill, O ldham A C o., B oston.
U eo. A . F ern ald A C o., B oston.
B lod g et, M erritt A Co., B o sto n .
B la k e B ros. A Co.. B o s t o n .........
S. A . K ea n , C h ica g o .....................

102*637
102-529
102-61
102-443
102'2-J
101-94
101-70
100-50

101-217
101-049

101-01

101148
101125
101-03
100-70

100-20
In te re st, sem i-a n n u a l.
New Pragne Independent School D i s t r i c t No. 73, Coun
D ate o f bon d s, F e b . 1, 1903.

ties of Scott and Le Sueur, Minn.—B o n d O fferin g.— P to p o sals w ill be r e ce iv e d n n til 8 p . m ., M a r c h 3, b y J os. T . T o p k a ,
S e cre ta ry B o a rd o f E d u c a tio n , fo r $15,000 4}^# s c h o o l-b u ild 
in g bon d s. D e n o m in a tio n , $1,000. In terest, an n u a l. M a 
tu r ity , $5,000 in 7 years, $5,000 in 11 y ea rs an d $5,000 in 15
years. C ertified c h e c k fo r $300, p a y a b le to th e a b o v e -n a m e d
S e cre ta ry , req u ired ,
North Carolina.— A c t* o f the S ta te L eg isla tu re.— W e g iv e
b e lo w th e statu s o f v a r io u s b o n d b ills w h ic h h a v e b een u n d e r
d is cu ss io n in th e S ta te L e g is la tu r e :

First Nat. B a n k .L o n g B e a c h .f S9.000 00
Oakland B an k o f S avin gs...... 39,400 oo
W illiam S. S te v e n s ................... 38,800 00
E. H . R o llin s & S on s,D en v er. 38,750 00
G ustav S u tr o .............................. 38,551 25

I R . 6 . L u n t ....................................$38,325 00
B il l s I n t r o d u c e d .
M a cD o n a ld ,M cC o y * C o .,C h i. 37,163 00
E n f ie l d S c h o o l D is t r ic t — A u t h o r iz in g b o n d s .
I W illia m H . H a rrelson ............ 36,401 99
I Lam preent B ros. C o., C le v e .. 36.302 00
H i g h p o i n t —A u t h o r i z i n g $ 9 0 , 0 0 0 b o n d s .
|S. D. G r a v e s ........................
30,000 00 M a d i s o n C o . - 8. B. No. 452, authorizing bonds.
P olk Co .—S. B. No. 346. authorizing refunding bonds.
Lndington, Mason County, Mich.— B o n d Sale. — T h e $4,000
R ed Springs —Authorizing $25,000 bonds.
4# street b on d s m a tu rin g M ay 1, 1904 (d e scrib e d in th e
B il l s P a s s e d b y H o u s e .
C h r o n ic l e J a n . 3 ), h a v e b een so ld to th e F ir st N a tion a l
G r a h a m Co .—H . B. No. 168, authorizing b o n d s .
B an k o f L n d in g to n at p a r an d in terest.
M u r p h y T o w n s h i p - H . B. No. 351, authorizing subscriptions

Massillon, Ohio.—B on d s P rop osed . — T h e issu a n ce o f $12,000 p a v in g b o n d s is b e in g c o n s id e re d .
Mayville, N. D a k .— B o n d s to be O ffered.— T h is c it y w ill
o ffe r at p riv a te sale w ith in a fe w w eeks$1 2,00 0 6# b on d s. M a
tu r ity , $1,000 y e a r ly o n M arch 1 fr o m 1904 to 1915, in clu s iv e .
W . F . M a u tz is C ity A u d it o r .
Memphis, Tenn.— B on d s P ro p o sed . — A n issu e o f $100,000
sch o o l b o n d s is u n d e r co n s id e ra tio n .
Michigan.— A c ts o f the S ta te L eg isla tu re. — W e g iv e b e lo w
the status o f th e v a r io u s b o n d b ills w h ic h h a v e b e e n u n d e r
d iscu ssion in th e S ta te L e g is la tu r e :

to

stock of Hiawassee Valley Ry.
B il l s P a s se d

by

Sen a te .

E l i z a b e t h C i t y — S. B. No . 245, authorizing $10,000 bonds.
Greensboro
8. B. No. 273, authorizing $260,000 bonds.
G r e e n v i l l e - 8 . B., authorizing school bonds.
Mr. O l i v e School D istrict —8 . B. No, 206, authoriallBg election

vote building bonds.
B

il l s

P assed

bt

B

oth

H

ouses o f

to

L e g is l a t u r e .

-Chapter 37, authorizing not .exceeding $781,500 re
funding bonds.
H ayw oo d —H. B. No. 296, 8, B. No. 316, authorizing bonds.
W a s h i n g t o n — H. B. No. 169, S. B. No. 322, autnorizlng refunding
bonds.
W a y n e s v i l l e — H. B. No. 184, S. B. No. 262,authorizing bonds.
B il l s I n t r o d u c e d .
North Dakota.— B o n d B ills. — A n issu e o f $100,000 b o n d s
A lpena —H. B. No. 170, authorizing $200,000 bonds.
D elra y —Authorizing $175,000 bonds for school purposes.
fo r th e c o m p le tio n o f th e S tate C a p ito l is p r o v id e d fo r in a
E c o r s e 8. D. No. 4—H. B. No. 107, authorizing $50,000 bonds.
b ill n o w b e fo r e th e L e g isla tu r e . B on d s to th e a m o u n t o f
E b c a n a b a School D ist .—H. B. No. 206. authorizing $25,000 bonds.
G r a n d R a p id s —
H. B. N o. 7, providing for sinking fund to pay debt. $128,000 fo r c o m p le t io n o f b u ild in g s at th e State A s y lu m ,
an d b o n d s fo r th e r e fo r m s c h o o l an d fo r th e n o rm a l s c h o o ls ,
G r a n d R apids —
H. B. No. 128, authorizing $120,000 sewer bonds.
P a w P a w —8. B. No. 61, authorizing a loan of $20,000.
are also a u th o rize d b y b ills r e c e n tly in tr o d u c e d in th e L e g is 
S a g i n a w — H. B. No. 112, authorizing bridge bonds.
latu re.
Standish —H. B. No. 5, authorizing loan for water and light.
Norwood, Ohio.— B on d O fferin g.— P rop osa ls w ill be r e 
W a y n e Co.—H. B. N o. 141, providing for a sinking fund.
W e l d o n , B e n z i e O o .— H. B. N o. 202, authorizing $2,000 bonds.
c e iv e d n n t il 12 M., M a rch 6, b y W . E . W ic h g a r , V illa g e
B il l s P a s se d b y H o u s e .
C lerk , at th e office o f J. A . S te w a r t, R o o m 517 J o h n sto n
Grand R apids —H. B. No. 7, providing for a sinking fund to pay cer B u ild in g , C in cin n a ti, f o r th e fo llo w in g assessm en t b o n d s :
tain indebtedness.
$2,832*57 6* 1 -10-year (serial) W a s h in g to n A v e n u e a ssessm en t b o n d s.
Houghton —H. B. No. 138, authorizing village to issue bonds.
6,088^29 8* 1-10-year (serial) R o ss A v e n u e a ssessm en t bo n d s.
B il l s P a s se d

by

Sen ate.

A

s h e v il l e

1,224 00 6% 1-10-year (serial) Cortlandt A venue assessment bonds.

D ate, F e b . 18, 1903. In terest, sem i-a n n n a l. A c e rtifie d
c h e c k f o r 5# o f b on d s, p a y a b le t o th e V illa g e C le rk , re q u ire d
B il l s P a s s e d b y B o t h H o u s e s o f L e g is l a t u r e .
A nn A rbor —H. B. No. 28,l{authorlzlng $40,000 bonds to pay in w ith b id s fo r ea ch issue.
debtedness.
Otsego, Mich.— B o n d E lec tio n . — An election w ill be held
B a y Oo .—H. B. No. 19. authorizing $135,000 refunding bonds.
G rand R apids —8. B. No. 15, to oure irregularity in action of Com Feb. 2l to vote on the question Jof tiesuing;$12,000;bond8 to
purchase real estate fo r fa cto ry sites and oth er p u b lic im 
mon Council in an issue of $50,000 bridge bonds
Grosse P oint Sch . D ist . No . 1 -S . B. No. 22, authorizing $5,000 provements.
school bonds.
Owosso, Mieh.—B o n d S a le.— T h is c ity , a c c o r d in g to lo c a l
G un P lains T o w n s h i p — H. B. N o. 4, authorizing $25,000 bridge
r e p o rts, has sold an issu e o f $30,000 4# p a v in g b o n d s to th e
bonds.
C itizen s’ S a v in g s B a n k o f O w osso, at 100*166.
Mikado T ow n sh ip - H . B. No. 6, authorizing $2,000 bonds.
Otsego—H. B. No. 57, authorizing public-improvement bonds.
Oxnard Union High School District, Ventura Connty,
R oyal Oak Sch . D. No . 6 - H . B. No. 20, authorising $3,000 bonds.
Cal.— B o n d S a le.— O n F e b . 5 th e $20,000 5# g o ld b o n d s d e 
M id la u d , M ic h .— B o n d Sale. — T h e . $20,000 4# r e fu n d in g sc r ib e d in th e C h r o n ic l e Ja n . 31 w e re a w a rd e d to th e O a k 
w ater bonds d u e o n e -h a lf in 15 y ears an d o n e -h a lf in 20 y ears la n d B a n k o f S a v in g s a t 104*45. F o llo w in g are th e b id s :
and th e $2,000 4# r e fu n d in g im p ro v e m e n t b o n d s due in 10 Oakland Bank o f S aving*... $20,890 00 I N . W . Harris A Co.. Chicago,$20,527 00
years (m e n tio n e d in th e C hronicle J a n . 24), h a v e b een sold Isa a c Springer, Pasadena.Cal. 20,675150 I F . L. Fuller A Co., Cleveland. 20,600 00
to N ob le, M oss & C o ., D e tr o it, at par.
Painted Post, Stenbeu County, N. Y.— B on d s D e fe a te d . —
M ilw a u k e e , W is .— B o n d O fferin g. — P r o p o sa ls w ill be r e  At a sp ecia l e le c tio n h e ld J a n . 6 a p rop osition | to issu e $25,000
ceived n n til lO a . m . F eb. 18, by th e C om m ission ers o f th e
w a te r b o n d s w as d efea ted .
P u b lic D ebt, a t th e office o f th e C ity C o m p tr o lle r , fo r $200,Pelham (N. Y.) Union Free Seliool District No. 1.—Rond
000
street im p ro v e m e n t an d $40,000 3 ^ * p a rk c o u p o n Sale — O n F e b r u a r y 9 th e $18,000 reg istered s c h o o l-h o u s e
bonds. D en o m in a tion , $1,000. D ate o f b on d s Ja n . 1, 1903. b o n d s d e s crib e d in V . 76, p. 283, w e re a w a rd e d to O ’ C on n or
Interest sem i-a n n u a lly at th e o ffice o f th e C ity T r e a su r e r o r & K a h le r , N e w Y o r k C ity , a t 103*176 fo r 4 p er cen ts.
at the M orton T rn s t C o ., N e w Y o rk C ity . F iv e p e r c e n t o f
Pittsburgh (Pa.), Sterrett^Scliool Sub-District of the
each isane w ill m a tn re y e a r ly a fte r date.
22d W a r d .— B o n d O fferin g.— P rop osa ls w ill be r e ce iv e d n n til
Minneapolis, Minn.— Bill P asses L eg isla tu re. — T h e S tate 8 P. m ., F e b . 21, by th e Board o f D ire cto rs, W . J. F le m in g ,
L egislatu re has passed S en a te B ill N o. » le g a liz in g $200,000 Secretary, for $150,000 4# c o u p o n s c h o o l-b u ild in g bonds.
bonds a u th orized b y C o m m o n C o n n cil fo r n e w s c h o o l honses.
Denomination, $1,000. Date, A p r il 1, 1903. Interest, semiM enominee Oo .—S. B. No. 19, authorizing bonds.

398

THE

C H R O N IC L E

an n ually, free o f tax. M a tu rity y ea rly on A p r il 1, a3 fo llo w s :
$4,000 fr o m 1908 to 1918 in clu s iv e ; $6,000 fr o m 1919 to 1928;
$8,000 in 1929 and also in 1930; $10,000 fr o m 1981 to 1933, in 
clu siv e. P resen t d eb t o f d istrict, $187,000. S in k in g fu n d ,
$22,894 13, Assessed valu ation , $8,182,293.
P o m o n a , C a l .— B on d Election A u th o rized .— A t a m eetin g
o f the C ity Trustees held Ja n u a ry 26 th e C ity A tto r n e y w as
directed to prepare necessary n otices c a llin g an e le c tio n to
v ote on th e issuance o f $158,000 bon ds as fo llo w s : $58,000
fo r a n ew h igh sch ool an d m anu al train in g departm en t,
$30,000 fo r a n ew g ra d e sch ool b u ild in g , $15,000 fo r a n ew
park, $15,000 fo r the im p rov em en t o f G enesha P ark and
$40,000 fo r an e le ctric-lig h t plant.
P o r t la n d , M e .— Tem porary L o a n .— On F e b ru a ry 11 th e
$200,000 loan m a tu rin g O ct. 1, 1903, w as d iscou n ted at 3 ’98%
b y G eo. A . F ern ald & Co. o f B oston . T h e fo llo w in g tenders
w ere m a d e :
D is co u n t.

D isco u n t.

B oring, T olm an & T u p p e r..................................$200,000. .4-125^
V erm llye & Co............... 60,000. .4125*

G eo. A . Fernald & C o. .*200,000. .398*
B ath Sayings ln s t’n . ... 25,000 ,4'0O%
B on d & G o o d w in ......... 200,000. .4125*

P o r t o f P o r t la n d , O re.— B on ds N ot Sold.— W e are ad vised
th at the $150,000 4£ g o ld bon ds offered on Jan. 17 w ere n ot
sold. F o r d escrip tion o f bon ds see V . 75, p. 1868.
P o r ts m o u t h , O h io.— B id s.— F o llo w in g are th e bids receiv ed
F eb ru a ry 2 fo r the $11,000 4$ E ast F ift h Street im p ro v em en t
an d the $4,000 4£ street-im p rov em en t bon ds d escrib ed in the
C h r o n i c l e Jan u ary 10:
$11,000 B onds. 2 : $4,000 B ds.
F irst N ational Bank, P ortsm ou th .................................... $11,026
$4,010
R . K leybolte & Co., C in cin n a ti..........................................
11,011
.........
Seasongood & M ayer (less $126 a ttorn ey’s fe e s ).........
11,000
4,000
W e ll, R o th & Co. (less $150 a ttorn ey’s fe e s ).................
11,000
4,000

A s stated last w eek , the bon ds w ere a w a rd ed to th e F irst
N a tion al Bank o f P ortsm ou th .
Portsmouth, N. H .— B ond B ill Passes Senate.— T h e Senate
has passed a bill a u th orizin g bon ds f o r a* n ew h ig h -sch ool
bu ildin g.
R a c in e , W is .— B on d Offering.— P roposa ls w ill b e r eceiv ed
u n til 2 p. m ., F eb ru a ry 26, by Joh n F en n ell, C ity T reasurer,
fo r $55,000 3*4%, sew er bonds. D en om in a tion , $1,000. In ter
est p a ya ble at office o f C ity Treasu rer. M atu rity , F eb . 1,
$4,000 each year fr o m 1908 to 1906, in clu siv e, and $3,000
y ea rly fr o m 1907 to 1919, in clu siv e.

B on d s A u th orized .— T h e C ity C ou n oil on F eb. 3 authorized
th e issuance o f $80,000 sch ool h ou se-im p rov em en t bonds.
Rockport, 1M ass .— B on d Offering .— Proposals w ill be re
ceived u n til 12:30 P . M ., F eb ru a ry 19, b y Fred. E, P o o l, T o w n
T reasu rer, fo r $15,000 3*4% c o u p o n w ater bonds. A u th o rity ,
Chapter 428, L a w s o f 1902, and tw o-th ird s v ote at tow n
m eetin g held fo r the pu rpose. D en om in ation , $500. D ate,
N ov . 1, 1902. In terest sem i-an n ually at th e N a tion al E x 
ch a n g e Bank o f B oston . M atu rity, $500 y ea rly on N ov. 1
fr o m 1903 to 1932, in clu siv e. C ertified oh eck on a national
bank fo r 1% o f th e par v alu e o f th e bon ds, p ayable to the
,
T o w n T reasurer, req u ired , T h e v a lid ity o f these bon ds h ave
been ap p rov ed b y S torey , T h orn d ik e, P alm er & T h ay er o f
B oston.
Rushford, M in n .— B on d Offering .— P roposa ls w ill be re
ceived u n til 7 p. m . , F eb ru a ry 20, b y C. O. A im , C ity C lerk,
fo r $2,000 5% e le c tr ic -lig h t bonds.
D en om in a tion , $1,000.
D ate, M a rch 1, 1903. In terest, annual. M atu rity, one bon d
in 11 years and one in 12 years.
S a n d y H ill, N. Y .— B ond Sale .— On F eb. 10 the $22,958 02
registered sew er bon ds d escribed in th e C hronicle Jan. 24
w ere a w a rded to W . J . H ayes & Sons, C levelan d , at 104’35
and interest. F o llo w in g are the bids :
F o r 1% B o n d s.
P r e m iu m . I F o r 4% Bonds (C o n t.)
P r e m iu m .
W . J. H ayes A Sons. C leveland. $9H9 00 Geo. M. H alm . New York............$n77 27
R lverb ea d Savings B ank
. . . . 941 27 I T row bridge & N iver Co., C h ic.. 282 00
N. W. H arris & Co., N ew Y o r k .. 810 76 |L am precht B ros. Co.. C lev e.......* 27J
Edm und Seym our & Co.. N. ¥ ..* 7 0 0 00
F or 3'76% B o n d s.
State C om ptroller, A lb a n y .........*670 37 | l. W . Sherrill, P o u g h k e e p s ie .... 100

* T hese bids, w e are a d vised , w ere n o t con sid ered , as th e y w ere n o t n form
required by village.

Sharkey County, M iss.— B on d Sale.— On F e b ru a ry 4 $20,000 5 % cou rt-h ou se bon ds w ere aw a rd ed to T r o w b rid g e &
N iver C o., C h ica g o, a t 101’33 an d interest. F o llo w in g are
the bids :
T row bridge < N iver Co.. Chic.$20,266 00 1 M acD onald, M cCoy A Co.. Chifc
John N uveen A Co.. C hicago. 90,281’00 | c a g o ..........................................$20,121 00
F. L. F uller A Co.. C levelan d . 20,200 00 I S. A . K ean, C hicago................. 20,020 00
Chas. H . Coffin, C h ic a g o ...... 20,020 00 |

D enom in ation, $500. D ate, D ec. 1,1902. In terest, annual.
M atu rity, D ec. 1, 1927; op tion a l D ec. 1, 1907.
Smyrna, D e l.— Bond. B ill Passes H o u s e.— T h e H ou se has
passed a bill a u th orizin g th is p la ce to issue $6,000 bon ds,

INVESTMENTS.

NEW LOANS.
^

[VoL. LXXVL

INVESTMENTS.’
BONDS

E v a n s v i l l e G a s Ac E l e c t r i c L i g h t C o . 5 s .

2 0 , 0 0 0

E vansville, Indiana.

S p r in g fie ld G as & E le c tr ic C o. 5s.

WEST PITTSTON, P A .

N ia g a r a L ig h t , H e a t & P o w e r C o. 5 s .

4% C O U P O N B O N D S .

C it iz e n s ’ H e a t <t L i g h t C o . 5 s .
J

Sealed bids will be receiv ed by th e un dersigned
until F E B R U A R Y 25T H , A T E IG H T O C L O C K
P .M .,fo r th e purchase o f T w en ty T h ou sa n d ($20,000)
D ollars o f W e s t P ittston , Pa., B orou gh 4% cou pon
bon d s.
$3,000 redeem a ble In 5 yrs., and payable in 30 yrs.
3,000
" 10 •
........................ 30
“
“
• 30
•
3,000
“ 15 “
.. s0 ..
8,000
........................ 30
4,000
“ 25 “
........................ 30
4,000
“
and payable in 30
T h e right to reject any and all bids is reserved.
A certified ch eck f o r 5% o f th e am ou nt o f bid m ust
a ccom p a n y tn e proposal.
GE O . B E N F IE L D .
Sec. W e st P ittston B orough C ouncil.
P ittston , Pa.

FARS0N LEACH & 00.

Springfield, Mo.
T onaw anda and N orth T onaw anda, N. Y.

NEW Y O R K .

Trust Companies,
T ru st Funds,

W r i t e f o r S p ecial C ircu la r.

M A S O N

L E W IS
BAN K ERS.

&

C O .,

B oston , eo D evonshire Street.
Philadelphia, 505 C hestnut Street.
C hicago, M on ad n ock Building.

In d iv id u a ls .

Rudolph Kleybolte & Co.,
1

N A S S A U S T .. N E W

P H IL A D E L P H IA .

Y O R K C IT Y

Chas. S. Kidder & Co., O. F. R IC H A R D S O N ,
BONDS,
184

LA

SALLE

Bankers’ and Brokers’

STREET,

LO A N S.

C H IC A G O

D r e x e l B u ild in g ,

BOSTON.

FOR

Savings Banks,

E lw ood . Indiana.
B u r l i n g t o n R a i l w a y Sc L i g h t C o . 5 s .
B urlington, Iowa.

Public Securities,
C H IC A G O .

SUITABLE

R. A. Lancaster & Sons,
BAN K ERS,

New York.

-

C H O IC E O K L A H O M A
F IR S T M O R T G A G E S

NO. 10 W A L L S T R E E T ,
NEW YORK.

On Im p roved Farm s
N e ttin g t h e I n v e s t o r 6 p e r c e n t I n t e r e s t .

D E A L E R S IN

S end f o r booklet a n d la tes t o f e r l n g .

INVESTMENT and MISCELLANEOUS
SECURITIES,

Perry, Coffin & Burr,
INVESTMENT BONDS

S o u t h e r n S e c u r itie s a S p e c ia lty .

AND CORPORATION

BONDS.

BOSTON.

W IC H IT A , K A N SA S

M e n tio n th is p aper.

MacDonald, McCoy & Co., F. R. FU LT O N & CO.,
MUNICIPAL

60 State Street,

W IN N E & W IN N E ,
W ln n e B u ild in g ,

M
171

u n ic ip a l

LA

SALLE

B

o n d s

,

STREET,

1 7 1 L a Salle Street, Chicago.

T . B. P O T T E R ,
M U N IC IP A L and
C O R P O R A T IO N

pnM HQ
D U IV

172 Washington Street,
C H IC A G O ,
L IS T

ON

-

-

A P P L IC A T IO N .

IL L S .

C H IC A G O .

Blodget, M erritt & Co.,

INVESTMENT BONDS.

BA N K ERS,

16 Congress Street, Boston.
36 NASSAU

STRE E T, NEW

YO RK .

STATE, CITY & RAILROAD BONDS.

8E N D

FOR

LIST.

DENISON, PRIOR & CO
CLEVELAND .

BQ8TON.

THE

February 14, 1903.]

CHRONICLE.

South Carolinn.-.4c£« o f the S ta te L e g isla tu r e — W e g iv o
below various bond bills which have been under discussion in
the State Legislature, giving the status^of the same :
B il l I n t r o d u c e d .
B is h o p v il l e Sc h o o l D is t r ic t —A u th orizin g sch ool b on ds.
C h e r o k e e C o .—A uthorizing co u n ty to retire bonds.
E a s l e y s c h o o l D is t r ic t — A uthorlzlng election to v o te bonds.
S a l u d a S c h o o l D is t r ic t —A u th o r iz in g b o n d s
S p a r t a n b u r g —V alidatin g street-im p rov em en t b on d s.
B il ls P a ssed b y H o u s e .
B is h o p v ii .l e Sc h o o l D is t r ic t —A uth orizin g sch o o l-b u ild in g bonds.
Co u r t H o u se Sc h o o l D is t r ic t , Ch e s t e r Co .—A u th orizin g b on d
election.
G r e e n w o o d S c h o o l D is t r ic t —A u th o r iz in g b o n d s .

Springfield, III.—B o n d Is s u e . —The city has issued $11,
100 4# South Grand Avenue pavine bonds to the paving con
tractors, Nelch, Patterson & Striffl"r, and to P. E. Taintor,
cement contractor, in payment for the work.
Springfield, Ohio.—Bond Sa le.— On February 10 the $10,000 4# refunding water bonds described in V. 76, p. 227, were
awarded to Trowbridge & Niver Co., Chicago, at 108'37.
Springfield (Ky.) School District.—B o n d O fferin g .— This
district is offering for sale $14,000 5# 5 20 school building
bonds. Denomination, $500. Interest, semi-annual.
Springfield (Ohio) School District.—B o n d O ffering .—The
Board of Education will offer at public sale at 7*30 p . m.,
March 2, in the Council Chamber in the City Hall, $36,000 4#
bonds. Authority, Sections 8993 and 8994 Revised Statutes
of Ohio. Denomination, $1,000. Date, the day of sale. In
terest, semi-annually at the American Exchange National
Bank, New York City. Maturity, $12,000 in 12 years, the
same amount in 13 years and also in 14 years, A New York
draft for $100 payable to the Board required.
Steele County, Minn.—Bond S a le.— This county has sold
to local banks an issue of $10,000 jail bonds.
Tennessee.—A c t s o f the S ta te L e g is la tu r e . —We give below
various bond bills which havej been under'discussion in the
State Legislature:
B il l s in t r o d u c e d .
C o n s t i t u t i o n a l C o n v e n t i o n — P ro v id in g

fo r

a v o te

to

d ecid e

K n o x Oo —A u th orizin g refu n d in g o f floatin g d eb t—$12 5 ,0 0 0 bonds.
N a s h v il l e —A uthorizin g $ 5 0 0 ,0 0 0 su bw ay or con d u it bon ds.
R o an e C o —A u th orizin g $ 2 0 0 ,0 0 0 road bonds.
T ip t o n —A uth orizin g $i 50 ,0 0 0 ro a d bonds.
W a r r e n Co u n t y —A u th orizin g $ 1 0 0 ,o o o tu rn p ik e bonds.
W a sh in g to n C o u n t y —A u th o r iz in g e le c t io n to v o t e ro a d b o n d B .
B il l s P a ssed b y H o u s e .
C h e a t h a m C o —A u th o r iz in g $ 5 0 ,0 0 0 b o n d s toQ pa y s u b s c r ip t io n to
c a p it a l s t o c k o f N a s h v ille & C la r k s v ille R R .

H u n tin g d o n —A uth orizin g $ 6,000 bonds.
J e f f e r s o n C o —P r o v id in g f o r a m a jo r it y In s te a d o f tw o -th ir d s v o t e
t o a u th o rize r o a d b o n d s .
M o n r o e C o . - A u t h o r i z i n g $ 4 0 ,0 0 0 c o u r t-h o u s e b o n d s .
M o r g a n C o .—A u th o r iz in g c o u r t -h o u s e b o n d s .
N a s h v il l e —T o r a t i f y s u b s c r ip t io n o f $ 1 ,0 0 0 ,0 0 0 t o N a s h v ille &
C la r k s v ille R R .
B il l s P a ssed b y S e n a t e .
N a s h v il l e —T o r a t ify s u b s c r ip t io n o f $ 1 ,0 0 0 ,0 0 0 t o N a s h v ille <
fe
T en n essee R R .

B il ls P a s s e d b y L e g is l a t u r e .
B lo u n t C o .—A u th o r iz ln g l$ 1 0 0 ,0 0 0 r o a d b o n d s .
D

yer

C o —A u t h o r iz in g $ 5 0 ,0 0 0 c o u r t-h o u s e tim e w a r r a n t s .

D y e r s b u r g - A u th orizin g $6 0 ,0 0 0 sew er and lig h t bon ds.
K n o x v i l l e —A u th o r iz in g $ 4 0 7 ,7 8 1 4 % g o ld 4 0 -y e a r I m p r o v e m e n t
bonds.

V o t e o f p e o p le r e q u ir e d .

K n o x v il l e — A u th o r iz in g b o n d s to b u y p la n t o f K n o x v i lle W a te r C o.
M eigs C o . - A u th o r iz in g $ 1 0 ,0 0 0 c o u r t-h o u e e b o n d s .
R o b er tso n C o .—A u t h o r iz in g $ 1 5 0 ,0 0 0 tu r n p ik e b o n d s .
W in c h e s t e r — A u th o r iz in g $ 2 0 ,0 0 0 w a te r a n d e l e o t r l o l l g h t b o n d s .

Tillsonbnrg, Oat. — D eb en tu re O fferin g .—Proposals will be
received until Feb. 20, by Alfred E. Raynes, Town Clerk, for
$10,000 4# debentures, maturing part yearly for twenty years.
Toledo, Ohio.—B o n d S a le .—The $121,000
street-im
provement bonds, advertised for sale on Feb. 27, have been
disposed of at private sale to Bonner & Co., Toledo, at par.
For description of bonds see V. 76, p. 284.
Twin Drove Township, Greenwood County, Kan.— B o n d s
P r o p o s e d .— A bill providing for the issuance of $5,000 bonds
for the purpose of prospecting for coal, oil and gas is before
the State Legislature.
Virginia.— A c ts o f the S ta te L e g is la tu r e .—We show below
the status of various bond bills which have been under dis
cussion in the State Legislature :

Whether or n ot to h old con v en tion .
H u n t in g d o n —A u th o r iz in g b o n d s t o b u y S o u th e r n N o r m a l U n iver

sity.
J e f fe r so n C o.—A u th orizin g road bonds.

IN V E S T M E N T S .

J. F. WILD

B il l s I n t r o d u c e d .
L ee Sc h o o l D is t r ic t , A ccom ac C o .—A u th orizin g bon d s.
N o r t o n , W ise C o .—A u th o iizln g to w n to b orrow m on ey.
P u n g o te a o u e Sc h o o l D is t r ic t , a c c o m a c C o .—A u th orizin g b on d s.

T R U S T C O M P A N IE S .

CO.,

&

B A N K ER S,
In d ia n a p o lis , I n d .

'*• T R U S T CO. ^
Deposits, $ 3 3 ,3 8 8 , 9 8 3 3 7

HIGH-GRADE

MUNICIPAL,
CORPORATION,
RAILWAY
B O N D S.
Indiana Bonds and Local Stocks
a Specialty.

M U N IC IP A L

N o. 6 6 B R O A D W A Y ,
N o. 2 3 4 F I F T H A V E N U E .
N o. 1 0 0 W E S T 1 2 5 T H S T R E E T .
C H A RLES T. B A R N E Y , President.
F R E D ’ K L. ELD RID G E, 1st V ice-P resident.
JOSEPH T. B R O W N ,2d V ice-P resident.
JU L IA N M. G E R A R D , 3d Vice-President.
FRE D E RICK G. KING, Sec. and Treas.
J. M cLE A N W A L T O N , A sst. Secretary.
H A R R IS A . DUNN, Asst. Treasurer
TRU ST DEPARTM ENT:
W IL L IA M B. R A N D A L L , Trust Officer.

AND

Public

HARLEM BRANCH:
B. L. A L L E N , Manager.

Service Corporation

BRONX BRANCH:
JOHN B A M B E Y . Manager.

BONDS.

E. H. R O L L IN S & SONS,
BO STO N .
D en v er.

399

MUNICIPAL BONDS.
E. C. S t a n w o o d & Co.,
B A N K E R S,

San F r a n c is c o .

Devonshire Street,
______ BOSTON._________
VICKERS & PHELPS,

CENTRAL
TR U ST COMPANY
OF ILLINOIS,
CH ICAGO.
C a p it a l,
S u rp lu s ,

GRAND

P R IX .

15 Wall Street

New York.

INVESTM ENT B R O K E R S ,
H IG H E S T

GRADE

R A IL R O A D

-

-

§ 4 ,0 0 0 ,0 0 *
1,000,000

-

C H A RLES G. D AW ES. President.
W . IR V IN G OSBORNE, Vice-President.
A.
U H R LA U B , V ice-P resident.
LA W R E N C E O. M U R R A Y , Sec’y A Trust Officer
W IL L IA M R. D AW ES, Cashier.
CH A RLES T. W EG N E R, Asst. Cashier.
MALCOLM M cD O W ELL, Asst. Secretary.
M A X P A M , General Counsel.
D IR E C T O R S :
A . J. BA RLIN G .
M A X PAM.
C H A 8. T. BOYNTON,
C H A RLES DEERING,
P. A . V A LE N TIN E ,
C H A RLES

BA N KIN G ,

121

THE

-

F R A N K O. LOW DHB
H A R R Y RUBENS,
GRAEM E STEW ART.
TH O M AS R. LYON.
A L E X . H . RE VELL,
. D AW ES.

SA V IN G S AND
D EP A R T M EN T S.

TRU8T

“ The Oldest Trust Company in Oregon.”
Incorporated April 22,1887.

PORTLAND
T R U ST COMPANY

B O \ n § .

OF O REG O N .

SECURE BANK VAULTS.

T r a n s a c ts a g e n e r a l T r u s t, A g e n c y a n d B an k
ln g b u s in e s s ; m a k e s c o lle c t io n s , a n d issn ee
In te r e st-b e a r in g C e r tifica te s o f D e p o s it , a t r a te s
fix e d b y th e te r m s o f t h e C e rtifica te .

WA« AWARD ID A* TH1 PARIS IMPOSITION TO

WHITING’S STANDARD

W H IT IN G P A P E R C O M P A N Y ,
H O L Y O K E . M A S S ..

A nd 150

D uane

Str e e t ,

BENJ.

PAPERS.

They are the only Amerloan papers which havs
srer received this—the highest h on or that can be
•onferred. It means they are the most perfect
■taae. Insist on having them for your One corres
pondence and your office stationery. A re you using
Whiting’s Ledger Papers in your Blank-Books
•staples and booklet free.

N

ew

Y ork.

G EN U IN E

I . C O H E N , P r e s id e n t .
B . L E E P A G E T . S e cre ta ry .

WELDED CHROME STEEL AND IRON

T he cheapest th a t a re g o o d ; the best at the p rice-

Bound and Flat ears and 6-Ply Plates and Angle
FOR 8A FE8, VA U LTS. Ac.
Cannot be Sawed, Cut or Drilled, and positively
Burglar P roof.
CH ROM E STEEL W O R K S,
Kent A ve., Keap and H ooper 8ts„
Bale M anTers In the U .S.
B R O O K L Y N , N. 1 .

Bpartly lith ographedD partly printed ; finished In a few
O N and S CERTIFICATES

AND S T OC K

d a y s) handsome design*: mutt be seen to be
appreciated, bend fo r samples.

A L B K R T

J3. K I N G

&; C O .,

Kngrarera and L ith ograp h ers
(Telephone C onnection.)
103 » illiam St., 5ew York*

THE

400

CHRONICLE

B i l l s P a s s in g S e n a t e .

L u b a y —L oan fo r street and road purposes.
N e w p o r t N e w s —A u th o r iz in g b o n d s .
P o r t s m o u t h —A u th o r iz in g p a v in g b o n d s .
B i l l s P a s s in g H o u s e .
M a n c h e s t e r S c h o o l D i s t r i c t —A u th o r iz in g b o n d s .
N e w p o r t N e w s —A u th o r iz in g b o n d s fo r p a v in g W a s h in g to n A v e n u e
a n d T w e n t y -fift h S treet.

Warren County, Miss.—B o n d O fferin g . —Proposals will be
received until 12 M., March 2, by J. D. Laughlin, Clerk
Chancery Court, for S13.400 5g bridge bonds.
Wayne County, Mich.—N o B o n d E le c tio n .— Several papers
have stated that this county would probably vote on the ques
tion of issuing $100,000 court-house bonds, On this subject
we are advised by the County Clerk that the County Auditors
have no intention of issuing any bonds at this time nor in the
near future.
Westbrook, Minn.—B e n d S a le .— On February 3 the $7,000
5% water bonds described in the Chronicle January 3 were
awarded to C. A. Boalt & Co,, Winona, at par less $100 for
expenses. Following are the bids :

[VOL. L X X V I .

May 1, 1908. Interest, semi-annually at office of County
Treasurer, or at the National Bank of Republic, New York
City.
Yakima County (Wash.) School District No. 63.— B o n d
Rids.—Following are the bids received January 31 for the
$20,000 bonds awarded, as stated last week, to Thompson,
Tenney & Crawford Co., Chicago :
For 6% Bonds.
Thompson, Tenney * Craw
ford Co., Chicago..................120,503 00
MacDonald, M cC oy* Co,.Chlcago......................................... 20,231 00
Trow bridge* N iverCo..C hio. 20,211 00
Chas. H. Coffin, C h icago.. .. 20.201 00
R. K leybolte & Co., Clnotn... 20,200 00

For 5% Bonds.
New 1st Nat. Bank.Columbus. 120,105 00
W . D. Perkins & Co.. Seattle. 20,100 00
John E. Price, Seattle............ 20.100 00
Yakima Valley Bank, North
20,011 00
Yakima..........................
State o f W ashington............. 20,000 00

Youngstown, Ohio.— B o n d O fferin g .—Proposals will be re
ceived until 2 p. m . , March 9, by Wm. I. Davies, City Clerk,
for the following bonds:
$1,650 b% Forest A venue and R igby Street sewer bonds. Denom ination, $330.
2,200 6% Pearl Street sewer bonds. Denomination, $4.10,
1,000 5% Charlotte A ven ue sewer bonds. Denom ination, $200.
1.700 b% Tod A venue grading bonds. Denomination, $84f>.
1,060 5% Hughes Street grading bonds. Denom ination, $210.

Bonds are dated March 10, 1903. Interest will be payable
semi-annually at the office of the City Treasurer. Maturity,
C. A . B oalt & Co. (le s s $100)... 17,000 00 I S. A . Kean (less 1%)............... $7,000 00
one bond of each issue yearly on Oct. 1, from 1904 to 1908,
Chas. H . Coffin, C hicago.......... 7.011 U0 I
inclusive. Purchasers must be prepared to take the bonds
West Pittston, Pa. — B o n d O fferin g .—Proposals will be re. not later than March 16, the money to be delivered at one of
ceived until 8 p. m., February 25, by Geo. Benfield, Secretary the city banks or at the office of the City Treasurer. A cer
Borough Council, for $20,000 4£ coupon bonds. Maturity, tified check for 2% of the amount of bonds bid for must ac
30 years; subject to call as follows : $3,000 after 5 years, company proposals.
B o n d S a les .—The following bids were received February 9
$3,000 after 10 years, $3,000 after 15 years, $3,000 after 20 for the two issues of 5# sewer bonds described in the Chron
years and $4,000 after 25 years. Certified check for 5# of bid icle January 17 :
$7,060
$1,260 •
required.
Oak Street
tVilliam St.
T he official n o tice o f th is bon d o fferin g w ill be f o u n d a m on g

the

a d vertisem en ts elsew here in th is D ep a r tm e n t.

Whittier, Cal.— B o n d s D e fe a te d .— T h e proposition to issue
$15,000 city-hall and water bonds failed to carry at the elec
tion held January 27.
Yellowstone County[(P. O. Billings), Mont.—B o n d O ffer
in g . —Proposals will be received until 12 m,, March 7, by the
Board of Commissioners at the office of J. W. Fish, County
Clerk, for $75,000 4 per cent 10-20-year (optional) coupon
court-house and jail" bonds. Denomination, $5,000. Date,

Bonds.
John R. Davies Sods, Y'oungstown....................... .. $7,475 00
Lam precht Bros. Co., Cleveland.................................. 7,365 69
W eil, R oth & Co.. Cincinnati....................................... 7,355 50
State Savings Bank Co., T oled o .................................. 7,297 50

Bonds.
$1,30*00
1,262 00
1,277 50

Zanesville, Ohio. — B o n d O fferin g .—Proposals will be re
ceived until 12 M. Feb, 27, by Chas, W. M’Shane, City Clerk,
for $7,500 5# 1-5 year (serial) Putnam Sewer District No. 2
assessment bonds, and $1,700 5 t 1-5 year (serial) East Elm St.
<
paving assessment bonds. Date, March 1, 1908. Interest,
semi-annually at office of City Clerk. Certified check for
$500 required.

T R U S T C O M P A N IE S .

FIDELITY TRUST
COMPANY,
NEW ARK,

N.

J.

C a p ita l,

8 1 , 5 0 0 , 0 0 0 OO.
Surplus a n d U n d iv id e d P rofits,

PAYS
ON

DAILY

D IR E C T O R S:
Jerome Taylor,
John F. Dry den,
W m . N. Coler Jr.
J a s. W . Alexander,
W illiam H . Staake,
James H . Hyde,
Forrest F . Dryden,
Leslie D. W ard,
Henry S. Redmond,
Thos. N. McCarter,
Edgar B. W ard.
Charles A . Felck,
Bernard Strauss,
W illiam Scheerer,
John C. Elsele.
S. B. Jackson.
W m . H . McIntyre.
Uzal H . McCarter,
Anthony R . K user,
H . R . Wlnthrop,
Robert H . McCarter, Otto H . K ahn,
M ark T. Cox,
Henry M. Doremns,
Jacob E. W ard.

The Merchants’
Loan & Trust Company,
Chicago.
C A P IT A L

AND SU R PLU S, 8 3 ,8 0 0 ,0 0 0

GENERAL BANKING.
Accounts of Banks, Merchants, Corporation*
and Individuals solicited on favorable
terms. T r u s ts of all kinds
accepted and executed.
Foreign Exchange.
Savings Department.

High Grade Bonds.
Safe Deposit Vaults.

D IRECTORS:
C. H. McCormick, A . H . Burley,
Marshall Field,
E. EL Gary,
Lambert Tree,
A lbert Keep,
E. D. HuEbert,
Bllas T. W atkins, E. M. Phelps,
Orson Smith.
M. J. W entw orth Enos M. Barton

IN T E K E S T

BALANCES,

SUBJECT

TO

26 BR O A D W A Y

N EW YO RK.

CHECK PAYABLE IN N EW YORK FUNDS.

Capital, $2,500,000 Surplus,$2,500,000

Morristown Trust Co*t
M O RR ISTO W N , N. J.

8 3 ,4 9 2 ,6 4 9 2 0 .
O F F IC E R S :
U ZAL H . M cC A R T E R ........ ......... President
JOHN F . D R Y D E N ............... Vice-President
T H O M AS N. M cCARTER,
2d Vice-Pree. Se. Gen. Counsel.
JEROME T A Y L O R .................. Trust Officer
F R E D E R IC K W . EGNER, Sec. and Treas.
JAM ES H . SH AC K L ET O N ,
Asst. Sec. A Asst. Treas.

3%

BOW LING G R E E N
T R U ST CO.,

SAM U EL FREEM AN,

PR
ESID T.
EN

Capital,

$600,000

Surplus and Profits,

1,541,197

Deposits,

4,766,466

•

Maryland Trust Co.,
N, W . Corner Calyert and German Streets.

O F F IC E R S:
E D W IN G O U LD ...............................President
W IL L IA M H . T A Y L O R ....1 s t VIce-Pres.
JOHN A . H IL T O N , 3d Ylce-Pres. & Treas.
W IL L IA M M . L A W S ................... Secretary
DIRECTORS:
M yron T. Herrick,
Charles P. Armstrong,
R ob ert H ockey,
Qeo. R . Bldwell,
Edward R. Ladew,
Frank Brainard,
W illiam M. Laws,
R obert C. d o w r y ,
J. W . M iddendorf,
Edmund C. Converse,
W inslow S. Pierce,
W m . Nelson Cromwell.
Edward D. Street,
Grenville M. Dodge,
W illiam H . Taylor,
Edwin Gould,
Edward R. Thom as,
Frank Jay Gould,
John P. Truesdell,
George J. Gould,
John Skelton W illiams,
John A . H ilton,
E. F. C. Young.

TheT rustCo.ofAmerica
149 B R O A D W A Y ,

B A L T IM O R E .

(Northwest Corner Liberty St.)

C A PITA L, * - $2,125,000.
S U R PLU S,- -S $2,437,500.

C a p i t a l .............................. 8 2 ,5 0 0 ,0 0 0 00
S u r p lu s & Undivided P r o f it s , 3 ,1 5 0 ,0 2 8 5 2
Allows Interest on Daily Balances,

A Legal Depository for Court and Trust Fuads
SAFE D EPOSIT B O X E S F O R BENT.
A c t . as Financial A gen t for § ® e . , Cities. Tow n.
Railroads and other Corporations. Transacts a gen
eral trust business.
Lends m oney on approves
security. Allow s interest on special deposits. A«t»
as Trustee under Mortgages, Assignments and Deed,
o f Trust, as Agent fo r the Transfer or Reglstratioi
o f Stooks and Bonds, and for the payment o f ooupons
Interest and dividends.
J. W ILLC O X BROW N, President.
H E N R Y J. BOWDOIN, 1st Vice-President.
LLO YD L. JACKSON, 2d Vice-President.
J. B E RN A RD SCOTT, Secy. * Treas.
C A R R O LL V A N NESS, Asst. S ecy .*T reas.
D IR E C 7 0 B S :
Wm. A . Marburg, J. W illcox Brown, J. A . Tompkins
S. Mandelbauxs
B. N. Baker,
H. J. Bowdoin,
Leopold Stronse, Fred’k W . W ood, John Pleasants
Andrew D.Jonesj J. L. Blackwell
Henry Walters,
W . B. Brooks Jr., Joshua Levering,* Geo. C. Jenkins
John B. Wilson
Lloyd L. Jackson, James Bond,
G. A. von Lingen, J. S. Lemmon.
H. A . Parr,
L. F. Loree.
Clayton C. Hall,

Max

B.

Borg,

BONDS.

BR O K ER IN INVESTM ENT SECURITIES,
JO BROAD STREET, - NEW Y O R K ,

subject to check through the New Y'ork Clearing
house or payable at sight, and on Certificates o f
Deposit.
A cts as Trustee, R eceiver, Committee, E xecutor.
Guardian, Adm inistrator, Assignee, Registrar,
Transfer and Fiscal Agent.

OFFICEBS:
Ashbel P. Fitch, Pres. Wm. Barbour, V,-Pre«.
Wm. H. Lenpp, V.-P.
H. S. Manning, V.-P.
B. J. Chatry, Sec’y.
A. L. Banister, Trea«.
D IRECTORS:
Ashbel P. Fitch, George Crocker, ,C. I. Hudson,
Ed w.C. Schaefer, Philip Lehman,
Wm. Barbour,
Geo.Blumenthal,
H . 8. Manning, S. C. T .D od d,
J o e lF . Freeman, Frank Jay Gonld,
Sami. A. Maxwell,
M yronT.Herrick, Anson R. Flower, Wm. A. Clark,
Elmers. McMillin, H. S. Redm ond, John W . Griggs,
Jas. M. Donald, Jno.R. Hegeman .Edwin Gould,
Jesse Spalding, George C. Boldt,

IOWA AND MINNESOTA
S i MUNICIPALItBONDS,
Correspondence Invited.

H A R R Y B . P O W E L L & CO.
W o o d s to c k , V e rm o n t.
Full text of Commercial and Financial Chronicle : February 14, 1903, Vol. 76, No. 1964

FRASER
