The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
financial
The.
allinurrt31
rentrie
INCLUDING
Bank ac Quotation Section
Railway Earnings Section
VOL. 92.
Railway & Industrial Section
Bankers' Convention Section
Electric Railway Section
State and City Section
SATURDAY, FEBRUARY 18 1911.
'zi`
c!t';he (!hr.anicI.
PUBLISHED WEEKLY.
Terms of Subscription-Payable in Advance
NO. 2382.
Week ending February 11 1911.
Clearings al
1911.
1910.
Inc. or
Dec.
1909.
1908.
For Ono Year
Chicago
253,960,966 215,942,206 +17.6 217,999,860 202,879.488
$10 00
For Six Months
Cincinnati
24,720,200
6 00
24,375.950 +1.4
23,119,300
21,618,250
European Subscription (including postage)
Cleveland
17,972,763
17,686,583 +1.6
13 00
12,334,681
13,478,241
European Subscription six months(including postage)
Detroit
15,509.560
13,154,003 +17.9
7 50
12.010,597
11,752,172
Annual Subscription in London (including pcstage)
14,638,905
£2 14s. Milwaukee
10,579,681
13,380,469 +9.4
11,320,678
Six Months Subscription in London (including postage)
7,960,146
7,203.391 +10.6
.21. its, Indianapolis ....._ _
5,084.702
6,990,170
Canadian Subsoription (including postage)
Columbus
5,599,700
6.049.200 -7.4
$11 50
4,354,600
4,399.709
Toledo
4,120,783
9.4
3.896.397
3,515,434
4,548.686
Subscription includes following SupplementsPeoria
3,301,919
2.456,465 +34.4
2,488,487
2,639.197
Grand
B WIC AND QUOTATION (monthly)
Rapids.._
2,449,319
SEAT& AND CITY (semi.annually)
2,192,894 +11.7
2,237,545
1,808,421
RAILWAY AND INDUSTRIAL (quarterly) I ELECTRIC RAILWAY(3 tunes yearly) Dayton
2,190,500
1,688,321
2,137,107 +2.5
1,486,366
Evansville
RAILWAY BARNImiS(monthly)
2,342,645
2,093,826 +11.9
BANK14.81 CONVENTION (yearly)
1,806,802
1,650,949
Kalamazoo
1,409,456
1,362,774 +3.4
1,109,800
837,079
Terms of Advertisind-Per Inch Space
Springfield, Ill
1,023,569
1.053.598 -2.8
1,056,606
818.243
Fort Wayne_ _
995,566
834,370 +19.3
628,698
Transient matter per inek space(14 agate lines)
637.499
$4 20 Akron
812,000
855,800 -5.1
575,000
530,000
TWO Months
(•4 times)
'22 00 Lexington
1,246,739
742,807 +67.8
547.529
688.571
Three Months (13 times)
29 00 Youngstown _ _
Standing Business Cards
1,228,874
1,064,005 +15.4
749,802
603.137
Six Months
(26 times)
50 00 Rockford
717,242
743,879 -3.6
651,513
568,109
Twelve Mouths(52 times)
87 00 Springfield, 0_
620.016
453,067 +36.9
457.940
398,572
CHICAGO OFFICE-Pliny Bartlett,5131donadnock Block; Tel.Harrisoa 4012 Decatur
455,946
501,326 -9.1
333.035
391,571
LONDON OFFICE-Edwards ‘45 Smith. 1 Drapers' Gardens, E. C.
Canton
930,358
889,967 +4.5
553.962
331,319
Quincy
725,000
575.542 +29.1
418,691
429,269
WILLIAM H. DANA COMPANY, iPublIghers,
Bloomington_ _
677.537
589.403 +14.9
435.205
426.081
South Bend
P.O. Box 958. Front, Pine and Depeyater Sts.,
475,744
New York.
409,770 +16.1
330.121
343,214
Mansfield
339,690
355,045 -4.3
309.624
311,855
Published every Saturday morning by WiLLiAM Ii. DANA COMPANY. Jacksonville, Ill_
242,795
305,992 -20.7
185,592
294,708
Jacob Seibert Jr., President and Treas.: George S. Dana and Arnold Q. Dana, Jackson
275,000
250,000 +10 0
242,940
225,000
435,511
VW-Presidents: Arnold 0. Dana, Soo. Addresses of all. ()Mee of the Company. Danville
348,210 +25.1
307,396
237,934
Lima
286,888
266,616 +7.5
281,503
255,000
Ann Arbor
163,873
159,537 +2.7
154.336
121,939
CLEARING-HOUSE RETURNS.
Adrian
28,736
34,276 -16.2
22,342
21,000
The following table, made up by telegraph, &o., indicates that the total Saginaw*
507,717
534,965 +6.1
bank clearings of all clearing houses of the United States for week ending Lansing
378,918 Not Included in total
Feb. 18 have been $2,827,127,461, against $3,127,735,791 last week and
Tot. Mid. West 368,425,663 323,551,729 +13.9 306.992.610 291,560,568
$3,573,908,416 the corresponding week last year. The large decrease3
from 1910 In the total for the week due in part to the holitlyy this year.
San Francisco_ _ _
42,595,775
35,035,554 +21.6
28,685,011
31,841.021
16,310,891
12,283,641 +32.8
Los Angeles
10,072,046
9,372,988
9,173,284
9,662.674 -5.1
Seattle
7,871,741
6,522,727
Clearings-Returns by Telegraph.
Per
9,565,362
10,438,120
Portland
6,656.457
8.4
5,301.947
Week ending Feb. 18.
1911.
Cent.
1910.
5,190,709 +6.3
Salt Lake City_ _
3,879,936
5,519,375
3.760,590
3,966,443
Spokane
3,037,889
3,726,933 +6.4
2,534,575
New York
$1,269,021,867 51.876.546,189 -32.4 Tacoma
3,731,746
4,030,945
4,403,774
3,225.175
+9.2
Boston
136,948,407
133,942.172
+2.2 Oakland
1,488,913
3,360,095
2,649,576 +26.8
1,529,729
Philadelphia
111,880.606
129,204,823 -13.4 Sacramento
789.039
1,345,633
1,087,433 +23.7
976,217
Baltimore
28,349,430
22,876,228 +23.9 San Diego
750,000
1,485,603
900,000 +65.1
825,000
Chicago
208,595,265
263.551,682
20.9
Fresno
784.373
482.953
610,821 +28.4
St. Louis
65,999,858
58.578,176 +12.7 Stockton
458,622
485,424
410,786
5.5
383.098
New Orleans
17,107,817
14,195,841 +20.5 Pasadena
728,110
800,000
9.0
Jose
450,591
425,165 +6.0
346,539
432,000
Seven cities. 6 days
31,837,903,250 $2,498,895,111 -26.5 San
North Yakima
436,625
400,000 +9.1
317,856
Other cities. 5 days
453,276,948
495,461,217
-8.5 Reno
257,838
220.140 +17.1
Total all cities. 5 days
Total Pacific_ _ 100,842,394
87.946,435 +14.7
68,519,912
$2,291,180,198 $2,994,356,328 -23.5
66.705,065
All cities, 1 day
535,947,263
579,642,088
54,035,935
-7.4 Kansas City_ _ _ _
50,257,435 -1-7.5
43,626,300
31,725,612
Minneapolis
18,723,474
17,052,658 A-9.8
13,174,975
17,231,044
Total all cities for week
52.827.127.461 53.573.998.416
13,219,275
16,156,929 --18.2
20.8 Omaha
10,780,855
10,184,914
Note.-Monday, Feb. 13 1911, holiday at New York, Phi adelphia and Chicago.8,870,081
St. Paul
8,506.816 A-4.3
6,639,489
7,808,375
Lincoln's Birthday.
8,172,445
Denver
7,548,648
7,331,975 A-11.5
6,491.205
• The full details for the week covered by the above will be given next Sat- St. Joseph
7,700,000
6,350,000 A-21.3
5,650,000
4,600,000
urday. We cannot furnish them to-day, clearings being being made up by
Des Moines
4,010,263
3,187,466 +25.8
2,716,266
2,314,789
clearing houses at noon on Saturday, and hence in the above the last daythe
2,231,025
2,769,669 --19.4
of Duluth
Sioux City
the week has to be In all cases estimated, as we go to press Friday night.
2,185,323
2,963,755 ---20.3
1,727,304
2,137,357
• We present below detailed figures for the week ending with Saturday, Wichita
3,518,946
2,930,126 A-20.1
1,8.55,547
1,305,703
Lincoln
noon, Feb. 11. for tour years.
1,456,660
1,375,688 +5.9
1,298,233
952.139
Davenport
1,339,517
1,043,432 +28.4
819,039
865,595
Topeka
1.611,261
1,252,179 i-24.3
1,382,369
1,030,399
Week end ng February 11 1911.
Cedar Rapids_
1,096,690
1,126,820 ---2.7
741,313
719,245
Clearings atFargo
728,010
773,512 --5.9
540,386
456,503
Inc. or
Sioux Falls
952,407
850,000 A-12.0
455,000
385,000
1911.
1910.
Dec.
1909.
1908.
Pueblo
560,558
638,022 --12.1
535,630
487,663
632,291
Colorado Springs
626,646 -1-0.9
622,142
483,017
$
$
$
$
%
331,712
Fremont
358.835 ---7.8
392,432
188,788
New York
1,858,422,189 1,833.887,960 +1.3 1,468,344.740 1,092,577,834 Waterloo
1,391,089
1,393,033
Philadelphia
147,133,013 119,848,598 +22.8
95,815,289 Helena
99,647,358
804,609
702,002
+14.6
693,823
554,960
Pittsburgh
43.335,181
38,373.099 +12.9
31,582,628
33,500,107 Billings
75,813
123,298 --38.5
123,471
175,000
Baltimore
34,744,602
27.576,807 +26.0
20,993,102 Hastings
22,084,816
165,270
135.000 +22.4
Buffalo
8,677,150
8,821,219 -1.6
7.044.261
8,130,537
Tot.0th. West. 133,812,654 127,905,296 +4.6 101,423,222
Albany
5,362.135
89.097.308
4,448,391 +20.5
4,408,621
4,841.139
Washington
6.958.651
7,224,505 -3.7
68,846,264 +17.2
5,125,211 St. Louis
80,671,909
5,132,428
59,966,133
56,138.085
Rochester
3.697,447
3,512.347 +5.3
18,630,858 +23.2
3.024,041
22,948,145
2,976,203 New Orleans.._
15,718,766
17,119,409
Scranton
2.700,103
2,294.330 +17.7
15,520,322
16,267,817 +2.6
1,857,370
16,683,787
12,302,022
1.839.968 Louisville
Syracuse
1,408,915
1,968,472
28.5
1,908,609 Houston
14,457,032
-11.0
1.669,572
12,351,114
13,877,770
11,322,651
Reading
1,395,079
1,122.291 +24.3
1,105,119 Galveston
1,167.736
8,068,000
6,706,000 +18.7
6,967,000
6,959.500
Wilmington
1,305.054
1,380.624
5.5
1,039..162 Richmond
1,031,501
7,827.951 -3.2
6,444.562
7,576,139
5,331,041
Wilkes-Barre 1,473.709
1,362,158 +8.2
883.017 Memphis
1.166,615
7.849,342
+16.2
6,766,691
5,340.796
5,436,067
Wheeling
1,572.258
1.362,100 +15.4
1,155,691 Fort Worth
1,240,296
6,557,521 +13.8
7,460,799
6,225,234
3,376,256
Harrisburg
1,049,601
1,051,343 -0.2
977.071 Atlanta
807,815
13,639,072
4,387.415
+12.8
12,086,108
5,414,392
1,476.136
Trenton •
1,314,296 +12.3
Savannah
1,254,782
4,590,132
2,865.660
3,514.882
5,007,698 -8.3
893.166
York
651.432 +37-2
591,021 Nashville
569,175
3,248,422
4,219,220
4,225,586
3,999,804 +5.5
673,858
Erle
764,090 -11.8
623,920 Norfolk
524.905
832
1,934.376
3,134,089
2,432,627
+7.6
.
371
.
3
Greensburg
492,703
478,806 +2.9
618,531 Birmingham
349,949
2,388,443
1,694,298
1,146,740 +108.1
2,114,503
454,245 +18.0
Chester
535.861 457,722 Augusta
348.874
2,691,871
1,471,566
1,918,797
2,084,175 +29.1
Binghamton
475.400 +10.3
524,500
396,900 Mobile
462.800
1,201,012
1,275,097
1,486,418
1,463,475 +1.6
322,417 +12.9
Altoona
364,207
276,922 Knoxville
249.198
1,204,580
1,418,442 +23.2
1,383.636
1,747,906
Franklin
300.058 -6.7
280.000
374.970 Jacksonville -_ _
305.743
1,865.777
1,489,926
2,812,799
2,375,455 +18.5
,
Little Rock
1,622.089
1,478,666
1,972,544
1,729,157 +14.1
Total Middle_ 2.124,475,018 2.058,994,988, +3.2 1.655,794.018 1,274.689,751 Chattanooga .__
1,510.000
2,236.059
1,360.000
1,850,817 +20.8
1,373.562
I
Charleston
1.850.080
1,300.000
1,766.000
+4.8
Boston
157.232,429 163,855,312 -4.0 144.345.181 127,850,373 Oklahoma
1,376.862
2,741,228
2,351,706 ,+16.6
780.460
Providence
8,035.800
8,280.300 -3.0
7.496,800
6.633,100 Macon
776.634
3,850,000
803,261
1,085,000 +253.9
Hartford
4,354,310
3,761,552 +15.8
3,005.530
3,017,638 Austin
611,542
3,104,426
+78.6
1,738,690
497,357
New Haven
2,733.334
2,089,615
2,442.399 +11 9
2,151.936 Vicksburg
468,868
406,897
353,998
361,744 +12.5
Springfield
1,845.270
1,650,955
2.100.000 -12.1
1.532.268 Wilin'ton. N.0-393.682
739,417
475.579 +56.1
277,795
Portland
1.773,471
1,731,893 +2-4
1,391.057
1,614,747 Jackson
439.000
640,000
442,000 +44.8
Worcester
2,096,217
1.650.486
2.155,203 -2.7
1,253.355 Meridian
330,000
300,000 +10.0
Fall River
1,387.454
1,345.192
+23.9
1,119,593
996,128 Tulsa
648,591 Not Included In total
New Bedford.-1,122,072
928,967
984,346 +14.0
773,394
Lowell
587,661
536,618
519.434 +13.1
527,439
Total Southern 218,427,579 190,375.551 +14.7 163.452,654 144,238.750
Holyoke
584,565
450.253
520,759 +12.3
420.559
Total all
3,127,735,791 2,976,245.490 +5.1 2.461,073.068 2,013.063,329
L.-mpt wpw Mir 151 759 455 107 470 701 -5 1 154 890.654 146.771.802
Outside N.Y 1,269.313,602 1.142.357,430 +11.1 992,728.328 920,485,495
Nele.-For Canadian clearings see "Commercial and Miscellaneous News." „4 „1
Statement cog/Idea National Barks for Jan. 7 1911 on page 440. ,
414
THE CHRONICLE
[VoL. Lxxxxn.
The House of Representatives on Tuesday passed
the McCall bill, embodying the tariff agreement with
OUR RAILWAY EARNINGS ISSUE.
We send to our subscribers to-day the February Canada, by a vote of 221 to 93. All the Democrats
number of our "Railway Earnings" Section. In this with five exceptions voted for it, but the so-called
publication we give the figures of earnings and ex- "Insurgent" Republicans were governed largely by
penses for the latest month of every operating steam local considerations. In the Senate the measure was
railroad in the United States, big and little, which is referred to the Finance Committee, and is expected to
required to file monthly returns with the Inter-State be reported back without delay. Its fate there is more
Commerce Commission at Washington—altogether or less uncertain, although the sweeping majority in
nearly 900 roads or systems, comprising an aggregate the House, the popularity of the bill throughout the
country, and the determination of President Taft to
of nearly 240,000 miles of line.
have reciprocity agreed to, are expected to have sufficient weight to induce the Senate to act favorably beTHE FINANCIAL SITUATION.
The transfer of control of the Missouri Pacific Rail- fore the present session terminates. In their anxiety
way to Kuhn, Loeb & Co., Standard Oil interests and to inject complications into the subject, the "standother American as well as German banking houses is patters" have brought to the front preposterous sugan event large with promise, for it opens up what will gestions that annexation will be the outcome; in fact,
probably prove an era of aggressive development over a formal resolution was cunningly introduced in the
a vast area in need of the best possible transportation House, requesting the President to enter into negofacilities. It is only stating an admitted fact to say tiations with the British Government looking to the
that, as compared with other important railroad sys- annexation of Canada by the United States, but
tems, the Missouri Pacific to-day is at a great disad- it was rejected by the House Committee on Forvantage. It has never had the benefit of the close eign Affairs by a vote of 10 to 1, the proponent of
application and undivided attention of some great the resolution (William S. Bennet of New York) castrailroad genius, ready to sacrifice himself for its bene- ing the only vote in favor of it. An absurd amount
fit—we mean a man of the type of the more recent of pother was raised over a meaningless utterance
builders of great railroad systems in this country, such of Champ Clark on the subject of having the Stars
as James J. Hill, Alexander J. Cassatt and Edward H. and Stripes float over every foot of territory
Harriman, each of whom addressed himself first and from some undefined line in the south to the North
foremost to the creation of efficient transportation ma- Pole. The remark was construed seriously by certain
chines. There is every reason to believe that the new representatives of British and Canadian newspapers
management of Missouri Pacific will lose no time in in- who happened to be present during the debate, and
stituting an entirely new policy for the betterment of great indignation was aroused in Washington official
this company and the various other Gould lines. Mr. circles. President Taft immediately took occasion to
George J. Gould yields gracefully to the new interests, repudiate the suggestion that the United States Govfor of course he could not fail to perceive that a change ernment had the slightest aspirations of this nature—
must bring an improvement in the value of the securi- a fact so far beyond doubt that its avowal ought to
ties of these properties, of which he continues to hold have been entirely unnecessary. Of course, the bogey
large amounts, but all of which have been selling on a of annexation is now being stalked through Britain as
a menace to the preservation of the Empire; but forgreatly depreciated basis.
vhtheir
Premier Asquith and his colleagues have retunately
command
at
have
will
interests
The new
be
to
fused
frightened by such tactics. The more the
and
capital,
of
intimations
supplies
unlimited
tually
are examined, the greater appear
in
proposals
by
Mr.
reciprocity
Harriman
used
methods
the
that
are made
be
derived by both countries. The
to
system
the
advantages
will
Pacific
be
followed
Union
the
ng
rehabilitati
United States has already fallen
the
in
wheat
of
price
system
from
its
present
Gould
so-called
in lifting the
inferior position. This will involve vast expenditures, to the lowest level in three years, the decline having
as the lines are not in the 'best of condition, either perhaps been stimulated somewhat by the prospect
physically or financially, and the country served is that the duty of 25c. a bushel on imports from Canada
capable of supplying enough traffic to keep a first- will be abolished, as it certainly should. If the Senate
class system fully employed. In view of the present- contrives to delay a vote until the present session ends,
day tendency to seek capital abroad, the selection of it is said that the President will consider the desirability
a representative of one of the foremost banks in Ger- of calling a special session after a very short interval.
many as a director of MisSouri Pacific is peculiarly fitThe announcement by the Long Island Railroad of
ting. The internationalization of capital which the
Twentieth Century has brought and will continue to purchase of 160 acres of water-front on Fort Fond
bring will no doubt call for the introduction of foreign Bay, on the north side of Montauk, additional to the
representation on the directorates of other American 60 acres previously owned there, is interesting, alrailroad systems. The events of this week, it should though not too much should be attached to it as
perhaps also be added, mean the removal of an inse- bearing upon the immediate commercial situation at
this port. It is carefully stated that the present purcure element from our financial situation.
chase has been made so that the road "may be in
be
Altogether, this Missouri Pacific transaction is to
position to provide" the various terminal facilities that
the
regarded as a highly favorable development of
would be required in connection with piers of extra
yesweek. So, too, is the announcement which came
"to meet any demands for the accommodation
length
terday of the resumption of dividends on its preferred
modern
vessels of the largest type that may deterof
will
stock by the Southern Railway Co. The present
to
Fort Fond Bay as the terminal for the
use
mine
be the first payment since 1907.
eastern voyage." A confident expectation is indicated
FEB. 18 1911.1
THE CHRONICLE
413
in the remark that the road believes it "only a question
Our January statement of building operations covers
of time" when these facilities at Montauk will be returns from 114 cities and shows that the
expenditure
required.
arranged for during that month in 1911 reached
Since the dream of an American Fishguard at Mon- $49,845,055, against $49,225,813 in
the corresponding:
tauk appeared to the late Austin Corbin, and the period of 1910. Compared with
1909 there is a loss
experiment of a line to Boston through Long Island of 2.3%, but contrasted with
1908 and 1907 increases
was made, conditions have considerably changed. of 90% and 67%, respectivel
y, are found. As regards
The interruption at the East River has gone. The the individual cities, 63 report
heavier totals than last
journey now begins at the new Pennsylvania station, year and 51 smaller. Greater
New York, among those
and the service over the Long Island, once an anti- showing greater activity, naturally
first claims attenquated local road, has so improved that two-hour tion, as operations here make up
over one-third of this
trains over the entire length to Montauk are mentioned year's aggregate at the 114 cities.
In Manhattan,
as possible. The Sound must be crossed, but the dis- the leading borough, we find that the permits
issued in
tance from Fort Pond Bay to New London is less than January this year involve an
outlay 87.8% greater
between Norfolk and Cape Charles, and that gap has than in 1910, and in Queens,
where operations have
long been covered regularly on the Pennsylvania's line. received a decided impetus,
a gain of 123.5% is
By using the other leg of the Long Island to Greenport exhibited. On the other hand,
in Brooklyn, where, as
the gap between the Island and the main land in we stated on Jan. 28,
operations have been overdone
Connecticut could be further lessened.
of recent years, a decrease of 40.5% is recorded, and
The prospect of exchanging the last 150 miles of the the Bronx shows a decline of 77.5%. But
the results
westward voyd,e for a journey by rail which should for all boroughs in 1911 is a gain of 35.8%
over 1910,
avoid all chances of detention in the harbor by fog, the estimated cost being placed at
$17,258,733, against
might appeal to passengers by sea, and it might be $12,705,111 a year ago. Compariso
n with 1909
possible to time the start eastward at a uniform and reveals an increase of 7.3% and the
excess over 1908 is
later hour in the day. The question of freights is nearly 130%.
another and more difficult one; yet the exclusively
Outside of New York there is a loss of 10.8% as
passenger ship of the fastest type is a possibility of the contrasted with
1910 and a decline of 6.9% from 1909,
future. Consideration of the problem of freights and but an increase of 75.4%
compared with 1908 and
piers also suggests mention of the work on Jamaica 4.6% with 1907. At
some of the smaller cities this
Bay, to which the State and the Federal Government year the percentages of
gain as compared with a year
seem to be committed. This purchase by the Penn- ago run well up into the hundreds,
and in a few insylvania-Long Island has some bearing on the pending stances exceed 600%—a fact, however,
mainly of inquestion of lengthening certain piers in the Hudson terest in showing the spurt that building has
taken in
River; yet it is to be taken only as a far outlook into smaller municipalities. Still there are conspicuou
s
the future and a step intended to forestall any em- gains, too, at larger cities, notably Cincinnati, 119.5%;
barrassment in meeting business demands which may Cleveland, 100.3%; Newark, 94.4%; Los
Angeles,
arise at some date hereafter. It is not so much pre- 19.1%; Detroit, 73.4%; New Haven, 873%;
Philadiction as it is preparation.
delphia, 21.8%; Portland, Ore., 58.7%; Richmond,
238%; Syracuse, 151%; Worcester, 263.9%; and
Building operations in the United States as a whole Washington, 22.7%. On the other hand, there
are a
continue active, the contracts announced during the number of more or less notable losses,
among which
opening month of the new year calling for an estimated may be mentioned Boston, 52.1%; Chicago,
48%;
outlay a little greater than for the corresponding period Memphis, 34.6%, and Seattle, 60.2%.
of 1910, and but slightly less than the January record
of 1909. This result, following the large amount of
The country's foreign export trade for January 1911,
work done in 1910 and the phenomenal operations of as indicated by the official statement issued yester1909 (together involving the expenditure of 1,937 day, was of exceptional proportions, exhibiting an
inmillions of dollars in 200 cities, against only 1,524 crease of 52 millions of dollars over the month of
millions in the preceding two-year period), would seem last year and exceeding the total for the corresponding
to furnish conclusive evidence of important growth in period of any year except 1908. Although in most of
population and consequent need of structures for the leading articles for which advance figures are furbusiness and dwelling purposes. It will be argued, of nished gains are shown, the only notable
augmentacourse, that there is much speculative building at tion occurred in cotton. • In fact, the shipments
of
times—erection of edifices in certain localities in an- that commodity for the month, while
not as great as
ticipation of a need or demand for them—and, within in 1907 and 1908, reached 1,013,262
bales, against
limits, there is no doubt of the truth of the claim; but only 491,632 bales in 1910 and 1,086,473 bales in 1909,
taking the country as a whole building construction the values represented being 771-3 millions, 37N milmeans growth or prosperity, and often both. At the lions and 52M millions of dollars, respectively. Breadsame time these causes are not universally operative, stuffs shared in the gain in trade this year to the exwhich accounts for the activity in some sections tent of 2 1-3 million dollars, in consequence of innow and lack of it in others. Probably in no creased shipments of corn, wheat and flour, and the
monthly exhibit we have reviewed have there outflow of meat and dairy products was slightly
been such wide variations in contiguous territory; greater than in 1910. In cattle, sheep and hogs, howyet for the United States as a unit the result is a ever, a small decrease is to be noted and a drop of
small gain. Apparently the country is continuing to 1-3 of a million dollars in the value of mineral oil shipgrow despite the obstacles put in the way by a ments. These various leading items combined give
paternal government.
an aggregate of $108,132,628, a figure nearly 42 mil-
*0.0*,
416
THE CHRONICLE
[VoL. Lxxxxm
Second—That the extra-territorial rights of Russians
lions greater than that for January 1910. The other
in
China shall not be infringed; that legal suits involvincommodities exported in January 1911 record an
ing
Russians and Chinese shall be considered by a
dolcrease over 1910 of approximately 11 millions of
mixed jurisdiction.
lars. Therefore, for the month of January this year
Third—That Russians shall enjoy special privileges
aggregate merchandise exports were $197,060,557, of trade and duty-free commerce in Mongolia and the
against $144,461,435 a year ago, $156,712,842 in extra-wall provinces.
Fourth—That Russian consulates can be imme1909 and $206,114,718 in 1908, and for the seven diately
opened at Kobdo, Kahmi and Guchen.
a
were
$1,256,792,956,
months since July 1 1910 they
Fifth—Due respect of the local authorities for Rusnew record for the period, and comparing with 1,084% sian consuls.
millions in 1909-10, a moderately smaller total in
Sixth—Russians to enjoy the right to acquire real
and erect structures in Mongolia and the exestate
the
previous
in
0,551
1907-08—
1908-09 and $1,189,09
wall
tra
provinces.
high mark.
on
the
other
January,
for
imports
The note adds that refusal to agree to these points
Merchandise
at
$130,n,
standing
diminutio
will be interpreted by Russia as an unfriendly act,
hand, show a moderate
January
(the
1910
in
278
and the Russian Minister at Pekin, M. Korotovitz,
283,223, against $133,670,
the
in
inflow
found
being
loss
the
has been instructed to present the note as an ultimatum
record), about half of
seven
the
For
stones.
precious
the Chinese Government. War is not looked
to
of diamonds and other
aggregate
the
however,
for.
Russia merely states that the extent of the
1911,
months ended Jan. 31
correearlier
any
of
excess
in
margin
demonstration will depend upon the attitude of China.
was by a small
and
376,
$893,763,
reached
having
The suggestion is made in diplomatic circles that the
sponding period,
only
and
in
1909-10
710
$891,193,
whole question could fittingly be settled by arbitration
with
comparing
our
of
net
result
The
ago.
years
two
at
The Hague.
millions
4
6971
a
balance
larger
is
export
trade
foreign
1911
January
Home Rule for Ireland is to be re-introduced in the
than in any years except 1901 and 1908, the contrast
'British
Parliament as soon as the reform of the House
mil10M
only
this
year,
34
being between $66,777,3
has been effected. Premier Asquith deLords
of
seven
the
For
in
1909.
lions last year and 53 millions
y that every one voted at the last
on
Wednesda
clared
is
also
balance
export
net
months of 1910-11 the
the full knowledge that when the
with
election
general
occaon
five
exceeded
although
comparatively large,
nt of Libsions between 1897-98 and 1907-08. At $363,029,580, Lords, "the great obstacle to the achieveme
of the
task
first
the
away,
,
cleared
were
legislation
eral
period
same
the
for
200
$193,493,
it compares with
selffull
policy of
last year, 3343 millions in 1908-09 and $43214 mil- Government would be to carry out a
have
"We
He added,
lions in 1907-08, the last-mentioned standing next to Government for Ireland."
or receded from that
retracted
moment
one
for
never
1900-01.
of
the record of 443 millions
ts are highly
Nationalis
,
the
position." Naturally
ing no
is
encounter
Minister
Prime
and the
Russia has notified the Powers of her intention to elated
questions.
other
on
their
support
difficulty in retaining
make a military demonstration against China because
In
course of a debate on the possible consequences of
treaty
This
1881.
of
treaty
the
of
violation
of alleged
trade relations between Canada and the United
is about to expire, and it is hinted that Russia, closer
d that the dishaving lost prestige since it was drawn up, is anxious States, during which it was complaine
be thereby
might
to intimidate China into making another agreement integration of the British Empire
to
occasion
the
Churchill seized
along favorable lines, whereas during recent years the precipitated, Winston
the
placating
by
n
Oppositio that
reform movement in the Chinese Empire has nur- impress upon the
would Ireland be won over, but
only
not
nation,
Irish
attiWhat
nce.
independe
greater
tured a spirit of
with every one of the self-govtude the United States, Great Britain and Japan will the Empire's relations
become more cordial, inastake is awaited with the keehest concern, for each has erned colonies would
abroad had always harbored
its peculiar interest at stake. The text of Russia's much as the Irish element
Kingdom for its treatUnited
a grievance against the
note follows:
amendment to the
An
Island.
ment of the Sister
convinced.
have
conducted
from the Govrecently
forth
ions
bring
to
Speech
designed
"Negotiat
King's
the Imperial Government that the Chinese Govern- ernment a clear, detailed statement of its intentions in
ment does not wish to abide by the provisions of the regard to Home Rule was defeated by 113 votes. By
commercial treaty of 1881. These provisions have
the presentation of details and merely holding
been ignored by the Chinese Government or interpreted avoiding
or
spirit
a
the
out
general
with
e
promise, the Premier escaped running
in a way that is neither in accordanc
the risk of disappointing the Nationalists and placing
letter of the treaty.
"The Imperial Government has reached the con- in the hands of the Unionists a fresh weapon. The
viction that with such an attitude on the part of the Veto Bill is not to be introduced until Tuesday, owing
Chinese Government to the treaty of 1881, a continunamed,of
ance of the friendly relations which have long existed to the absence on Monday,the day originally
for
Anxious
that day.
on
.
Mr.
Balfour,
buried
whose
be
is
to
impossible
brother
between Russia and China is
the maintenance and consolidation of these relations,
the Russian Government now finds it necessary to
The official discount rate at London, as had been
make the foregoing declaration and to request the confidently expected, was reduced on Thursday from
Chinese Government to confirm without delay her
at
agreement to observe the following points, which are 4% to 3%%, and bills can be privately negotiated
London
of
the
treaty
ns
at
in
money
under
stipulatio
decline
3%.
shade
The
e
a
the
with
accordanc
in strict
of 1881, and with the fundamental principles of the re- has gone further than had been generally anticipated,
lations between Russia and China:"
but no additional change in the Bank rate is considFirst—Russia's right to impose import and export
likely this season. The foreign exchanges,
ered
-duties unlimited, except in the fifty-verst zone, which
at present sufficiently high to prevent heavy
Ii
ough
is duty free.
FEB. 181911.]
THE CHRONICLE
417
withdrawals of gold from London by foreign countries, the time money quotations now current are attractive,
might easily be depressed by more pronounced easiness and rather than release funds they have allowed their
in discounts, and the Bank is therefore likely to en- reserves to accumulate inordinately. This is reflected
force as far as possible its new rate. Its reserves are by recent weekly bank statements, which have disbeing augmented week by week through the purchase closed that three or four of the principal Clearingof the bulk of the new gold arriving from South Africa; House members are carrying about three-fourths of the
there was again no competition on Monday,so that the total surplus reserve. These institutions continue to
Bank was allowed to take £400,000 at the minimum hold out for 23/2% for day-to-day facilities, whereas
price, the remainder going to India. Notwithstanding only a few loans have been made at that figure, there
the re-shipment of •a considerable amount of gold to having been daily a plentiful supply at 24%,at which
Paris, the weekly statement showed a gain in bullion. quotation most of the week's business has been done.
Private discounts, however, did not fall on Thursday, The prevailing range for time accommodation is likebut were slightly firmer than they had been imme- wise considered too low, and only moderate purchases
diately prior to the reduction in the Bank's minimum. of commercial paper are being made. NotwithstandThe quotation closes the week at 21516% for spot bills ing the easier trend during the current week, the belief
and 3% for bills to arrive. The Bank of France re- is gaining ground that the minimum level for the season
corded a small gain (less than 2,000,000 francs) in has been reached, and that the heavy borrowing by
gold and curtailment in note circulation and discounts railroads, the increasing requirements of the com(to an aggregate of almost 115,000,000 francs); but mercial community (now that business is promising
here also the charge for accepting bills stiffened in the to revive), the somewhat larger demand throughout
second half of the week, the rate being now 231% for the country for currency, andthe probable flotation of
spot bills and bills to arrive. A report came from a large Government loan, will bring about a modBerlin last Saturday that the Imperial Bank of Ger- erately higher value for loanable funds. A good deal
many would reduce its rate to 4% this week, but later of importance is being attached to indications of more
it was announced that no change would be made until active trade, an activity emphasized by a keener
the London rate had been lowered. It is obvious, inquiry for iron and steel, by a freer consumption of
however, that the present charge is unnecessarily high, copper and by the resumption of operations by various
inasmuch as spot bills can be negotiated in Berlin at plants which had been lying idle. It cannot be claimed
2%% and bills to arrive at 3%. Amsterdam quotes that the public absorption of stocks has expanded in any
314% and Brussels 3%. A reduction in the Belgian marked degree,nor is the domestic assimilation of bonds
Bank rate of 434% should shortly be witnessed. The quite as satisfactory as it was a month ago, although
Swiss National Bank declared a new minimum of it is still adequate, supplemented by the European
3/
purchases, to take care of the better-class offerings.
1 2% on Thursday.
Special transactions have been entered into on a
The Bank of England's weekly statement amply
justifies the Governors in lowering the rate from 4%, large scale in money secured by selected collateral.
as fixed on Jan. 26 last, to 33/2%. This is 13/2% below These loans are to run to July 15 (about five months)
the rate of three months ago, but is higher than at this and the rate paid has been 332%, or Yi of 1% below
time last year and two years ago, though it compares the general market quotation. This business has
favorably with the 4% minimum of 1 908 and the 5% constituted the only interesting phase of a dull market.
of 1907. Our special correspondent advises us by A small amount of 60-day money has been obtained at
cable that the ratio of reserve to liabilities declined 23/%, but 3% has been the usual minimum. The
from 53.22% last week to 52.72% this week, which is detailed range at the close is as follows: 24
7 (443% for
still about 3% above the average for this date during 60 days, 3@33'% for 90 days, 33'@3M% for 4
the last decade. The total bullion now carried, months, 2A@34
3 % for 5 and 6 months and 43,@)
£37,496,973, has been exceeded only once (in' 1908) 43/2% for 12 months. Call money has moved within
during recent years, so that the institution is quite a very narrow range. The maximum on the first
strongly fortified. In addition to a gain in bullion three business days of the week—Monday was a holithis week of £158,976, circulation decreased fully twice day—was 23/2%, the minimum 231% and the renewal
as much,leaving the total reserve improved by £531,- rate 29/2%. Yesterday the extremes were 2% and
005. But the percentage of reserve was pulled down 29/2%, with the final loan made at• 2%. Commerby an expansion in loans of £1,086,038. Public de- cial paper has been drawn with greater freedom withposits, owing to Treasury operations, increased £2,- out exciting a corresponding increase in the demand.
005,095 but ordinary deposits decreased £489,040. Discounts, as a consequence, have not weakened in
Our correspondent also furnishes the following details sympathy with collateral loan rates. For prime 4, 5
of the gold movement in and out of the Bank for the and 6 months' single-name bills and endorsed bills
Bank week: Imports, £451,000 (wholly bought in receivable the most common rate has been 4%, althe open market); exports,£757,000 (of which £50,000 though there has been no scarcity of 432% bills.
to South America, £172,000 to Paris, £500,000 ear- Transactions at 49 and even 5% have also been remarked India and £35,000 to various destinations), corded, usually for out-of-town accounts.
and receipts of £465,000 net from the interior of
Great Britain.
That foreign exchange rates should decline is not
surprising in view of, first, the very large export balLarger offerings and fewer demands have been the ance reported for January; second, the reduction in the
features of the New York money market throughout Bank of England rate, and, third, the break in our
the week, with the logical result that rates have de- commodity prices to levels calculated to stimulate
clined. The attitude taken by quite a few very large European buying. Our merchandise exports for last
lending institutions is that neither the call money nor month, $197,060,557, were $66,777,334 in excess of
418
THE CHRONICLE
[VoL. Lxxxxii.
The following table indicates the amount of bullion
our imports, a balance which compares with $10,791,in
the principal European banks.
indeed,
is,
and
157 last year and $53,136,341 in 1909,
exception
sole
the
the best for any recent year with
Feb. 16 1911.
Feb. 17 1910.
Banks of
Gold.
Silver.
Total.
Gokl.
of January 1908, when conditions were abnormal.
Silver. I Total.
.£
X
Wheat, corn, cotton and other commodities which England- _ 37,496,973
37,496,973 37,325,171
37,325.171
France __ 129,968,920 33,049,680 163,018,600 139,190,560 34.828.960,174.019.520
figure in our over-sea commerce have fallen materially Germany
_ 43,234,150 15,050,000 58,314,150 41,434,0
13,601.250 55,035,300
_ _ _ 144,811,000 6,649,0 151,460,000 141,541,000 7,642,000 149,183,000
from their maximum quotations of last year, and the Russia
Aus-Hun_ 55,226,000 12,467,000 67.693,000 56,561,000 12,975 000 69.536,000
____ 16,462,000 30,744,000 47,206.000 16,143,00 30,700,000 46,843.000
proposal to take the import tax off Canadian wheat Spain
Italy__ __ 39,340,000 3,498,000 42,838,000 38,681,00
4,012,000 42,693,000
Netherl'd 10,819,000 2,392,900 13,211.900 10,084,000 2,987,800 13,071,800
cereal.
that
upon
influence.
is having a potent
Nat.Belg._ 5,678,667 2,839,333 8,518,000 4,220,667 2,110,333 6,331,000
Sweden _ 4,463,000
4,463,000 4,470.000
4.470.000
6,226,000
5,050,000
6,226,000 5,050,000
Money is on almost a dead level in all international Switzerl'd
Norway _ - 1,859,000
1,552,000
1,859,000 1,552,000
less,
little
a
or
3%
quotes
London
centres. Thus,
Total wee 495,614,710 106,689,913602,304,623 496,252,448 108,857.343605,109,791
Berlin the same figure, New York a lower rate for call Prey. wee 493,283,834 105,898,773599,182,607 493.751,197 108,371,953602,123,150
loans but that charge for short-term maturities,
Brussels 3% and Amsterdam only a fraction higher.
There is thus no incentive to borrow money abroad THE VOTE ON RECIPROCITY IN THE HOUSE.
Very few measures which have been placed before
by means of finance bills. The largest stock market
controversial tribunal of politics have evoked a
the
operators here have no difficulty in finding on low
striking popular response than the proposed
more
terms all the accommodation they need; in fact, call
arrangement with Canada. We pointed
reciprocity
money is hard to put out. The offerings of cotton
time this agreement was submitted to
the
at
out,
bills have not been extensive, as was to be expected;
the Administration, the numerous eleby
Congress
but grain bills have appeared in fair volume. Dewhich had at once found voice,
opposition
of
ments
mand rates moved up when business was resumed
in Canada. What has been
and
country
this
in
both
after the holiday on Monday; on Wednesday a change
during the subsequent
more
manifested
strongly
much
in the London Bank rate was accepted as assured,
of unexpectedly
sentiment
popular
a
that
is
three
weeks
and sterling declined 15 points. Another break of
behind the
unswervingly
stands
character
vigorous
equal extent occurred on Thursday morning, demand
reciprocal
against
bars
the
letting
down
for
project
touching 4 86, but a recovery carried quotations at
to the
neighbor
its
and
country
this
between
trade
the close to the over-night range. The undertone
north.
yesterday forenoon was again firm, and it was regarded
Of this attitude by the public at large there could
as significant that there was a keen inquiry for bills
no stronger witness than the debate and vote
be
to go next week.
Reciprocity Bill in the House of Representatives
the
on
exsterling
Compared with Friday of last week,
In the first place, the majority by
Tuesday.
last
quoted
demand
change on Saturday was firmer, with
measure was carried
the
Administration's
which
8670
8660@4
4
at
at 4 8625@4 8635, cable transfers
itself
of
extraordinary. When
was
the
House
through
holia
was
and 60 days at 4 8350@4 8355. Monday
Party, which is
the
Republican
that
considered
is
it
8630®
4
to
day. On Tuesday demand advanced
the protective
to
committed
overwhelmingly
still
cable
while
8365,
4 8635 and 60 days to 4 8355@4
40
of
in the House
holds
plurality.
doctrine,
an
actual
Wednesday
transfers declined to 4 8655@4 8665. On
bill by a
this
the
of
passage
Representatives,
of
to
transfers
demand fell to 4 8615(0)4 8620, cable
is
129
of
of
itself
That the
majority
impressive.
Rates
486454 8655 and 60 days to 4 8550@4 8560.
the
have
almost
unanimshould
commanded
again declined early on Thursday on the reduction of measure
would
members
not o
the
of
Democratic
the Bank of England's minimum discount rate; de- ous vote
of
out
the
that
165
fact
the
mand touched 4 86@4 8610, cable transfers 4 8630® itself cause surprise; but
should
78
bill,
the
4 8645 and 60 days 4 8330@4 8340, but before the Republican members who voted on
extent
close there was a sharp recovery of about 15 points. have given their voice in favor of it, shows the
inthe
and
On Friday demand touched 4 8630©4 8B35 but the to which the pressure of public opinion
the
of
the
in
righteousness
close was at 4 8620@4 8625, with cable transfers at fluence of individual belief
policy itself has swayed the controversy. The
4 863/ bid at the close. .
own
The market closed on Friday at 4 8340(04 830 for Reciprocity Bill is now before the Senate, whose
determined.
is
question
yet
be
to
the
on
attitude
60 days, 4 8620@4 8625 for demand and 4 860@
was
4 8660 for cables. Commercial on banks was quoted To most people it would seem as if that attitude
in
the
by
the
action
fairly
House.
foreshadowed
at 1 -2Y1 @p4 83 and documents for payment 4 833'
During the present week's House debate, it was note@;1 83. Cotton for payment ranged from 4 83@-,
that the arguments in favor of the bill were
worthy
4 83;f., grain for payment from 4 833'@4 83%.
based almost altogether on higher grounds than mere
The following gives the week's movement of money temporary trade expediency. Mr.Clark's assertion that
to and from the interior by the New York banks.
he was "in favor of universal peace, and in favor of
reciprocity treaty because it helps along the
this
Net Interior
Shipped by
Received by
N. Y. Banks. N. Y. Banks.
Week ending Feb. 17 1911.
Movement.
cause of universal peace," struck the note of the
$3,282,000 Gain 55,919,000 discussion.
$9,201,000
Currency
This was a Democrat's view. But Mr.
1,671.000
562,000
1,109,000 Gain
Gold
Ma
of
510,872.000
$4,391,000 Gain $6,481,000 Longworth, a Republican, declared his theory
Total gold and legal tenders
protection to be "a policy that would adapt itself
Result with Sub-Treasury operations:
at all times to changed conditions," but "not one
Into
out of
Net Change in
which will necessarily maintain forever an impregBanks.
Banks.
Bank Holdings.
Week ending Feb. 17 1911.
wall around this country, and especially across
nable
34.391,000
Gain
$10,872,000
$6,481.000
Banks' interior movement, as above_
28,574.000 Loss
27,000,000
674,000
Sub-Treasury operations
the Canadian frontier." This protectionist judgment
ri
$38,772,000 $32,965,000 Gain 55,807,000
Total gold and legal tenders
of the matter was reinforced by the statement of a
FEB. 18 1911.
THE CHRONICLE
Pennsylvania protectionist member, during the debate,
that he regarded himself as having the right "to break
down every barrier or unnecessary obstruction that
has been erected to restrain the desire of an enlightened
and industrial neighboring people, with common
instincts and common purposes and similar conditions
as to labor, to exchange their products with each
other." In other words, it may be said that both
debate and vote were based upon such high grounds
of enlightened public policy as to make it difficult, if
not futile, to contest them.
That this measure should have broken through
party lines we regard as a wholesome indication,
showing that on broad questions of public policy even
political tradition cannot control the opinion of the
voters or the votes of public men. We have no doubt
that in the long run, if not indeed at the moment, the
Canadian attitude toward the question will be similar.
There has been much curious discussion, during
the past week or so, over the attitude of public authorities in England. In particular, Mr. Balfour's speech,
imputing to the Canadian reciprocity agreement the
germs of an "imperial disaster" has been widely
quoted. It must, however, be remembered that these
preliminary arrangements between the Canadian
Government and our own are repugnant, not to the
British people or to any established imperial policy
of the British Government, but to the proposed and
thus far politically unapproved policy of preferential
tariffs as between England and the Colonies, advocated
by Mr. Chamberlain a decade ago, at the beginning
of the protectionist movement in Great Britain.
That Mr. Balfour should, so to speak, have paid his
respects to this doctrine in his formal protest against
our Canadian reciprocity proposal was natural from
a personal point of view, but it can hardly be deemed
of great significance as an incident in British politics.
Indeed, it will readily be observed that if objections
such as Mr. Balfour's were.conceivably to be pressed
so far as to involve, even indirectly, intervention by
the British Government in the matter, the experiment
would be extremely dangerous. It was the effort by
the British Government to override Colonial preference
in such matters which largely led to our own country's
separation from Great Britain. But no such attempt
is even remotely probable. The amendment to the
Royal Address, which was the Parliamentary way of
embodying this objection to the reciprocity plan, was
voted down in the House of Commons by the substantial majority of 102.
It by no means follows from the popular approval
of the proposed agreement that close commercial
arrangements between the United States and Canada
would point toward any approach of the two communities in a political way other than that involved in
international friendliness. No one would dream of
assuming such a thing fr,,m a reciprocity treaty
with Argentina, for example. The hasty assertion
of Mr. Clark, the Democratic leader of the House,
in the course of Tuesday's debate, that one reason
for his approval of the reciprocity bill was that he
"hoped to see the day when the American Flag will
float over every square foot of the British North
American possessions, clear to the North Pole,"
can scarcely be considered otherwise than as a
rhetorical flourish of an interesting debate. Mr.
Taft very properly, in his letter next day to the
419
leader of the reciprocity movement in the House,
declared that "Canada is now and will remain a
political unit," and that "no thought of political
annexation or union was in the minds of the negotiators." As a matter of fact, there could hardly be
better evidence of the impracticability of any such
result than the indignation and irritation with which
the indiscreet assertion of the Democratic leader was
received in Canada. But all the more because of the
improbability that the tariff wall between Canada
and ourselves will be leveled through political amalgamation, both nations ought to seek with the utmost
earnestness to remove all causes of mutual friction,
jealousy and irritation; and to this great purpose the
vote of the House of Representatives has unquestionably contributed.
To us, this use of mutual trade concessions as an
evidence of friendship and good feeling, and not as a
result of threats or of political complications, is a very
important landmark of the day. The Republican
Party's national platform in the campaign of 1896,
with the day's most celebrated advocate of the protective theory for its candidate, pledged the party to
"reciprocity agreements of mutual interest which
open markets to us in return for our open markets to
others," and declared its belief that "reciprocity
builds up foreign trade and finds an outlet for our
surplus." These arguments have lost no force in
the fifteen subsequent years. In the case of reciprocity with Canada they have gained force, by
reason of the fact that to-day,owing to altered relations
of home production and consumption, our own
people not only need a wider market for things which
we have to spare for export, but also need access to
outside producing markets for certain products of
which we no longer raise enough for ourselves.
The reason why the declaration of principle which
a protectionist convention adopted in 1896 is regarded
with seeming misgivings by many protectionist statesmen of to-day may be found, we think, in the extreme
and artificial interpretation which, both at home and
abroad, has been put on the theory of customs duties
since that time. During the intervening period the
doctrines that trade is war and an exclusive tariff the
principal fighting weapon, gained for a space an
amazingly wide vogue. It is time the world returned
to a sane and sober view of what commerce really is.
And precisely as The Hague Convention pointed the
way to sound doctrine regarding international diplomatic relations, so, one may hope, the mutual and
friendly concessions as between the United States and
Canada will point the way to sound,though conservative, theories of international trade.
THE PROPOSED DIRECT ELECTION OF
SENATORS.
All intelligible and sincere argument for the proposed
Constitutional Amendment for electing Senators of the
United States directly by popular vote reduces itself to
two assumptions: first, that the Senate, as now
chosen, is not sufficiently in touch with and responsive
to the people; second, that the present method has
become too much exposed to corruption.
The intent of the founders was distinctly to produce
in the Senate a sort of remoteness, for the express
purpose of securing dignity and breadth of view in
governmental action. The House was to be the direct
420
THE CHRONICLE
[VoL. Lxxxxir
popular branch, its members "chosen every second the last quarter century the Senate has been gradually
year by the people of the several States." The Senate, losing the old calmness and conservatism of character.
with its members holding through six years, against Whatever the reasons, that body has largely ceased to
two years for Representatives and four years for the be a check upon the House and has sometimes seemed
President, and having only a third of its membership the less conservative of the two; all propositions for
elected in every second year, was to have a permanence regulating and centralizing meet about the same treatsecond only to that of the judges of the high courts; in ment in both branches, and the latest proof of a change
a sense,.the Senate was to be a sort of legislative board is furnished by the assent of the Senate to the most
of review, and its intended dignity was emphasized by radical Constitutional Amendments. The desire to
giving it particular control over relations with other please the people is apparently equal in both Chambers.
countries. The sensitive subject of taxation was The two bodies are approaching substantial unity in
brought closer home to the people by the provision character. Even if this change, so far from the
(which has become largely evaded in practice) that original intention and the practice through most of our
revenue bills must originate in the House.
national life, is granted desirable, has it not already
A new House, perhaps considerably made up of in- gone far enough? Can any sound reason be given for
experienced men, might be full of some campaign issue giving it another impulse?
and largely reflect a passing emotion; the Senate would
A further point may be made here. If a direct
then be less responsive to that emotion. The calmer expression of the popular choice for Senators is desirSenate was to serve as check upon the more mercurial able, it can be had under the existing method, and the
House; the Executive counsel and veto was to serve subject is so broadly left to the States by the Constias a check upon the two; the high courts, most inde- tution that there is nothing to hinder even a formal
pendent by length of tenure and calmness of thought, vote by the electorate. Such a preferential expression
were to serve somewhat as check and review upon all. would always be heeded by a legislature, just as the
It is impossible to deny that this original scheme of expressed preference for President is heeded by the
checks and balances was humanly wise; to assert Electoral College. This mode of electing Senators is
that it stands condemned by results is very rash.
already in vogue in some States. If results prove it
Senator Lodge was clearly right in arguing that the a good one, there is nothing to prevent its general
proposed change in method of electing Senators would adoption; if results do not justify it, it can be quietly
be more than in method—that it would involve abandoned. Therefore, the proposed change is not
changed results. It would, he said, amount to con- needed in order to give expression to popular choice,
verting the Senate into another House, composed of and it may be better left for time to pass upon than be
two Congressmen-at-large from each State, elected for finally adopted by a Constitutional Amendment, in
six instead of two years. It might be admitted, for advance of complete test.
argument, that the ability and honesty of individual
The argument that corruption has gone far in the
members would not suffer deterioration; but the electing of Senators is urged, and Mr. Root declared
character of the body would change as to the personal that the call for a direct election derives much of its
relationship of the Senators to party politics and their force from the resentment aroused by some cases of
angle of view towards public questions. The value of taint. But this plea can be pushed too far. For if
all auditing and examining of arithmetical and other the people really cannot—or if, while they could, they
work depends upon the fact that men are fallible, and will not—choose legislators who can be trusted to elect
the errors of one set may be discovered and held in Senators, then they cannot, or will not, choose fit
check by another set; but the examiner and the Senators by a direct vote. The argument is almost an
examined must not have the same relationship to the admission that representative government is a failure.
work, or the check fails. Therefore, two legislative
houses, differing only, in length of term of service,
GERMANY AND AMERICAN SECURITIES.
would not balance and correct each other; having
The German Reichstag has discussed the advisasubstantially the same angle of view and governed bility of allowing American securities to be listed on
substantially by the same reasoning, the advantages the Berlin Bourse, and some of the sentiments exof requiring that a measure be good enough to com- pressed were decidedly unfriendly to this country.
mand assent by separate branches would be lost; we This seems surprising, considering that the United
might as well have only one body and save the expense States has afforded heretofore, and is still offering,
of the other. Young men, by the bent of their attractive opportunities for German investment, and
thought and the smallness of their observation, are has been to so large an extent developed by Germans.
disposed to act promptly and take the chances, while In the past the German Government has not prohibold men are disposed to move slowly and only after ited the listing of any security; in fact, the law apmuch doubt concerning consequences. A very good parently does not confer upon it such a right, though
analogy might liken the reciprocal action of House and it gives the State authorities certain supervisory
Senate to the balancing and conservative net result of powers. A proposal to introduce the shares of the
young men and old in society. Neither old nor young Chicago Milwaukee & St. Paul Railway, through a
could well be spared; but to turn the Senate, as very influential Berlin bank, was seized upon as a
virtually proposed, into another House, would natur- pretext to bring up the whole subject, and the results
ally resemble leaving the old out of society—action may include a change in the law so as to increase the
would tend to over-haste.
Government's powers to regulate the actions of the
Some persons at present are calling for rapid and stock exchanges.
radical action, and these are the persons who would
Count von Kanitz, a Conservative, declared that
like the Senate more responsive to current popular astonishing carelessness had been tolerated in admitnotions. But it is pertinent to point out that during ting second-rate foreign securities to the German
FEB. 18 1911.1
THE CHRONICLE
421
market, and, though the St. Paul shares belonged ever artificial barriers the Reichstag or any other
"ostensibly" to the best class of investments, "it is body may seek to interpose. A fresh illustration of
asserted, without contradiction, that this railway re- this tendency has just been afforded by the election
cently shows reduced earnings, and that its dividends to the new board of the Missouri Pacific Railway of
are kept up to 7% only in order not to discredit the the American representative of the Deutsche Bank,
large sum placed in Germany." He asked, appar- while scarcely a month passes without news of the
ently with a suggestion of triumph, why Americans formation of banking syndicates consisting of New
did not keep these securities for themselves, and added: York, Paris, Berlin and London interests. All this is
"The investment of German capital in American rail- not only reflective of financial progress and of a widenway securities only places this capital at the disposal ing of scope, but possesses even higher importance in
of the American iron industry, which competes with its influence upon the preservation of the peace of
ours in many over-sea markets, especially in South the world.
America. . . . We have no reason to show a
conciliatory spirit towards Americans, who have not
MUNICIPAL OWNERSHIP AGITATION IN
treated us with especial amiability. After increasing
SEATTLE:
their schedules they have issued all kinds of vexing
On March 7, next, the voters of the city of Seattle
tariff regulations."
will determine by a referendum ballot whether the
The allegation that St. Paul's dividend has been bonded debt of that municipality shall be immediately
maintained solely for the purpose of placating German increased by issue of $800,000 in bonds to provide
holders had never been even suspected here; the query for the purchase of the Seattle Renton & Southern,
as to why Americans do not keep their own securities a trolley system some thirteen miles in length, with
is too childish and irrelevant to merit a reply; the logic no branches or feeders, connecting the business centre
of the assertion that money supplied to our railways of the city with a growing suburban district. The
is "at the disposal of the American iron industry" submission of.this question to the voters is the culis a trifle obscure, though there is some roundabout mination of a long series of incidents attending a
truth in the idea; finally, Germany is hardly in position protracted controversy between the city authorities
to criticize other nations for their tariff actions.
and the owners of the railway, in which the former
The Prussian Minister of Commerce and Industry, have made allegations of inferior service and excessive
Herr Delbrueck, replied that the general prohibition rates and the latter have appealed to the Federal
of foreign investments offered to German capital courts for relief from conditions which they claim are
would be useless; that these investments were often oppressive and destructive to their property rights.
necessary for political reasons; that the German people At one stage in this contest the city authorities, in
produced annually at least $1,000,000,000 surplus order to compel the company to carry passengers for
capital which had to be invested abroad when not ab- a single five-cent fare, extended the city limits so as to
sorbed at home, but that the recent increase in foreign include a narrow strip along the route of the railway;
investments rendered greater caution necessary now.
an expedient which was rendered, at least temporarily
The German Government admittedly has shown ineffectual by the interposition of a Federal judge,
remarkable resourcefulness in fostering the financial, who enjoined the patrons against refusal to pay a
industrial and agricultural welfare of the nation; and second fare.
it seems exceedingly unlikely that it would now interUnder these circumstances the proposed experiment
fere with the freedom of the people in choosing their in municipal ownership was suggested and is apparinvestments. The very able financiers who conduct ently receiving the support of two classes of citizens.
the leading banking organizations in Germany would These are (first) those advocates of municipal ownernot induce their clients to place funds in foreign se- ship as a general plan of obtaining local rapid transit
curities were there more attractive domestic invest- whose enthusiasm over what seems to them to be a
ments available, for it has never been complained that chance to obtain an "entering wedge" of their favorite
these financiers were obsessed by hatred of their own panacea blinds them to the fact that the utter impossicountry and its well-being. France has not hesitated bility of operating the proposed municipal line without
to invest extensively in foreign fields, including, espe- a heavy annual deficit would render the experiment
cially during recent years, the United States, and the almost certainly fatal to any hope of an early attainresults have been most satisfactory—a fact that is ment of their larger plans and (second) those who,
encouraging eminent French bankers to accept new agreeing that municipal ownership and operation is
American bond issues of the first magnitude. Even a calamity to be avoided on general principles, have
Germany's interest in our securities is growing sub- come reluctantly to the conclusion that there is no
stantially. Director von Gwinner, of the Deutsche other way to obtain reasonably good service in the
Bank, recently said that the German yearly trans- region traversed by the line that it is proposed to
actions in them about equaled the volume of trade purchase.
between the two countries, which amounted to about
With the exception of the line in question,the street
$465,000,000 in 1909. Furthermore, the stamp tax railways of Seattle are operated by the Seattle Electric
returns showed that the inflow of foreign securities Company, which has about 185 miles of track,traverswas not excessive, the total for 1910 having been only ing all parts of the municipality,and maintains mutually
$184,500,000, against $263,500,000 eight years ago.
co-operative relations with the extensive and growing
As the world's money markets are drawn closer and interurban trolley system of the Puget Sound district.
closer together, as international commerce year by This company is the result of a consolidation, several
year increases, as investors gradually extend their years ago, of some thirteen companies operating in
vision, the interchange of securities among the lead- the city of Seattle and that its relations with its
ing nations is bound to broaden irrespective of what- patrons are reasonably satisfactory to the latter is
422
THE CHRONICLE
evidenced by the fact that when it was proposed,
some five or six years ago, to parallel it by a municipally owned and operated line the project failed, when
submitted to a popular vote, by the decisive vote of
7,198 against to 5,762 in its favor; and this in spite
of the fact that the campaign in favor of the project
in favor of the project was abundantly financed by
the aid of Eastern municipal ownership advocates,
including Tom Johnson of Cleveland and others.
It is plain, therefore, that the majority of Seattle
voters is not favorable to municipal ownership.
At the same time there are, doubtless, many
advocates of municipal ownership in Seattle and it is
also known that there are among them a very considerable number who look with disfavor upon the present
project because, in their view, it would be foredoomed
to failure. Accurately to apprehend their view of the
question, it is necessary to look a litfle closely at the
conditions of the proposed venture in city ownership.
For the year that ended with January 31 1910 the
Seattle Renton & Southern reported net earnings of
$106,898, which would, apparently, leave a safe, if
not a satisfactory, margin over the five per cent
interest on its $825,000 first mortgage bonds now
outstanding. But this figure covers a period antecedent to the effort of the city authorities to enforce
a five-cent fare over the entire distance covered by the
recently extended city limits and was earned at the
double fares which the city has prohibited, and that,
of course, would have to be abandoned as the first
step under city ownership. Again the municipalownership advocates who oppose the purchase are not
satisfied that the reported operating expenses include
a sufficient allowance for maintenance, and call
attention to the fact that the company has settled
substantially no damage claims, but has fought them
to the court of last resort and thus, in many instances has postponed such payments only to be finally compelled to pay them with interest; and that a single
serious accident that occurred last year is likely to
cost the company well over $50,000.
Another adverse condition which they claim to
exist is that this long line, without branches or feeders,
runs for the first three or four miles through the most
thoroughly built-up portion of the city. Therefore, its
short-distance and paying traffic has already developed to the maximum, and the only part of the
region which it serves that can add materially to its
patronage is so far from the centre of Seattle that its
traffic is necessarily carried at a loss, which will increase
as the traffic increases. They believe that the street
railway service of any community is essentially a
unit and that, under the American system of uniform
fares, which they regard as of great social benefit, it is
necessary to combine short-hauls and long-hauls in
proper proportions in order to offset gains on the
former against losses on the latter and to keep expenses
on the hither side of income. They accept the principle that street railway traffic carried over four
miles, under the ,operating conditions that prevail
on the Pacific Coast, cannot be profitable, and note
that in this case any increase in traffic must be by the
settlement of the more distant portions of the region
traversed, to which the haul is so long that every
passenger is carried at a loss and more passengers
mean merely greater losses. These more clearheaded proponents of municipal ownership decline
[VoL. Lxxxxn.
to favor an experiment which must be conducted
under such adverse conditions—they refuse to accept
the risk of a test which they know in advance must be
disastrous.
Those who have been described as belonging to the
second class of supporters of the project, namely
those who, while opposed to municipal ownership
under ordinary conditions, contend that the failure
of private owners to render the sort of service they
regard as desirable for a single fare makes it necessary
for the municipality (that is, the taxpayers) to enter
the field and accept the certain loss, occupy an even
less tenable position than the municipal ownership
enthusiasts who constitute the first class. For
reduced to its plainest and most evident terms, their
proposal is simply and distinctly that, as a five-cent
fare is not enough to meet the cost of rendering service
to the more distant part of the region served by the
Seattle Renton & Southern, the excess fare shall be
paid, not by those who enjoy the service, but shall be
aggregated and the whole sum added to the annual
tax-burden of the whole community. That is to say,
they would have the municipality operate the property
at a five-cent fare and make up by taxation whatever
deficit was incurred. They do not state their position
in these explicit terms; in fact few of them probably
realize that such is its substantial character; but such
is, plainly, the case.
But there are other considerations. The present
assessment of Seattle property, real and personal, for
taxation, aggregates $205,262,448, and its present
bond obligations, including local improvement bonds
and warrants and water supply bonds and warrants, is
$25,128,863; the total authorized is over $30,000,000,
and the balance will soon be issued. Now a bonded
debt aggregating 12.24 per cent of the assessed value
of the property of the residents of the community
issuing the obligations, and averaging over $130 per
capita of their number, may not deter future subscriptions to such additional issues as may be unavoidable, but it will certainly lead investors to
scrutinize with especial care not only the terms of the
obligations offered but the purposes for which they
may be from time to time issued and the general
administrative and public policies and methods of the
municipality. To such rigid inquiry the residents of
Seattle may expect their future borrowings to be
subjected. Moreover, the municipal needs of that
rapidly growing center of urban life are certain to be
extensive. No city can experience the rapid growth
which Seattle has had, and that which it reasonably
anticipates in the future, without being subjected
to some difficulty in meeting the pressing capital
requirements incident to its growth. Paved streets,
ample fire protection, adequate sewerage, public
schools, and in most cases water supply, must be
provided for by the issue of bonds, and as these
requirements increase, one bond issue must follow
rapidly upon another. In addition, the city of
Seattle is, wisely or unwisely, already in the possession
of a municipally-owned lighting plant, which has
cost many millions and will probably have to be
extended at the cost of many more millions if it is to
keep pace at all with the growth of the city.
Under these circumstances we think the people of
Seattle would do well to vote down the project soon to
be submitted and to decline to enter upon such a field
FEB. 18 1911.]
THE CHRONICLE
of experiment in municipal ownership. Not only
would there be a strong probability of direct loss on
the proposed municipal railway and one which the
city could ill afford, but the effect upon the minds of
those to whom future bond issues must be offered
would be unfortunate. Capital from the conservative
investors of the East cannot be expected to flow in
uninterrupted streams into investments, in municipal
bonds or otherwise, in those communities which show
themselves ready to risk their resources and their
credit in one reckless and untried experiment after
another. Eastern investors may be wrong in their
judgment of these matters, but they are in possession
of the capital necessary to finance the development of
the Pacific Coast and the Far and Middle West; there is
as yet no statute, Federal or State, compelling them
to make• investments against their will, and their
capital will go to those communities which show the
least speculative and visionary spirit in the conduct,
both of their public and their private business, and
not elsewhere.
We treat this topic and present these considerations,
not so much with a view to the conditions in the single
city of Seattle, but because that enterprising and
growing community happens at the moment to afford
an excellent illustration of a general need of conservative municipal policies.
GOLD AND SILVER PRODUCTION AND
MOVEMENT IN 1910.
The year 1910 witnessed a check in the production
of that metal which is such an important essential in
the world's commercial and financial intercourse. In
other words, there has come a pause in the annual
augmentation of the production of gold. This is noteworthy, inasmuch as the increase, except during the
Boer War period, had been constant and generally
appreciable since 1885. We do not mean that during
1910 there was an actual decrease in yield from the
world's mines, but that the gain, according to the preliminary returns, has been so meagre as to be merely
nominal. The result furnishes no occasion for surprise, as our investigations from time to time during
the year pointed to some such outcome, and in reviewing (on Oct. 29 1910) the data for the nine months,we
expressed the opinion that 223' millions of'fine ounces
would be a fair measure of the world's product for the
twelve months. Even that figure would seem to be a
little high, as our compilation puts the 1910 output
at only 22,058,303 fine ounces, or barely 1,000 fine
ounces greater than in 1909.
Various causes explain this apparent cessation of
progress, but it may be ascribed mainly to a practical
halt in development in Africa, the largest of the producing countries. It is true, of course, that Africa
did better in 1910 than in 1909, continuing the sequence
of annually improving results; but, as in 1909,the further addition to product was very moderate. On the
other hand, the diminution in the yield of Australasia
that has been an annual feature since 1905 was more
pronounced than in either of the preceding two years;
and, furthermore, the United States, owing primarily
to declining results in the Nome and Fairbanks districts of Alaska, records a retrograde move in production. As against these declines, however, Russia
further enlarged its product to a quite satisfactory extent, and small gains are indicated in Canada, Mexico
and, in the aggregate, for the smaller producers; so
423
that in the total for the world there is the nominal
excess over 1909 referred to Above.
As regards Africa or, more properly speaking, the
Transvaal, the important field, development in years
past had been so phenomenal that it had been practically accepted as a fact that progress would continue
on the same stupendous scale indefinitely; therefore,
the circumstance that in 1910 and 1909 the additions
to yield were comparatively moderate has caused disappointthent, and the result is put down as due to lack
of efficient labor. The difficulties as regards labor
that Chinese repatriation brought about were no
doubt for a time a retarding influence; but since that
change has been completed a sufficient time has elapsed
to solve the problem that it presented. Through the
activities of the Native Labor Association the problem
has been solved, and at the present time the force at
work in the mines, while moderately less than six
months ago, is still much greater than at any time
xvhen the Chinese were there.
Little thought seems to be given to the fact that,
in order to maintain the rate of progress in development that has been nothing less than marvelous, there
are other considerations besides labor. The character
of the ore encountered, for instance, is of vital importance, and in the Transvaal recently, as in Australasia for a few years past, the ore in the lower levels
of some of the mines is reported to have been comparatively poor. Still, development is constantly in
progress, and there is no reason to doubt that the
Transvaal in years to come will continue to show improving results annually, as has been the case each
year since gold was first discovered there, barring only
the Boer War period. Furthermore, as indicating to
what an extent the world is indebted to Africa for its
increased supply of gold, it should be borne in mind
that in 1887, the year that practically marked the
beginning of mining there, Australasia, the United
States and Russia were already prominent producers.
Ten years later the newer field had passed all the others,
and since 1907 has annually given a greater yield than
Australasia and the United States combined.
Russia's production down to and including 1906
was a fluctuating quantity, up one year and down the
next; but with 1907 more consistent development began, governmental interest being aroused, and since
then there has been a steady increase annually. Much
is expected in the future from the many new veins
recently discovered in Western Siberia which are now
being developed. Canada, as stated above, showed
a further small enlargement in output in 1910, but the
yield was much less than in any year from 1899 to
1905 inclusive. Discoveries recently made in the
Porcupine district, which lies some 100 miles northwest
of Cobalt, will, it is expected, in the near future add
appreciably to the yield of the Dominion. In Mexico
production has increased materially of late years, bu
the 1910 gain was comparatively slight.
As detailed below, the world's gold product in 1910
was approximately 22,058,303 fine ounces, valued at
$455,984,828, which is a gain of only 919 fine ounces,
or $18,997 over the yield of 1909. But it marks an
augmentation in output of over 128% in the last fifteen
years, the 1895 yield having been only 9,652,003 fine
ounces, and of the large increase indicated (123/i
million fine ounces) no less than 6,376,650 fine ounces,
or over half, is to be credited to Africa.
THE CHRONICLE
424
To trace the lodgment of the vast quantity of gold
that is now produced annually becomes increasingly
difficult as the years pass. Large amounts are used
in the industrial arts in the various countries each
year, the Director of the Mint reporting the sum so
used in the United States alone in 1910 to have been
$40,000,000, or the largest amount on record. It is
presumably not wide of the mark to conclude that in
the world as a whole the industrial consumption of
gold in 1910 was, in round figures, not far from 150
millions of dollars, leaving approximately 300 millions
to be otherwise accounted for. It is a noteworthy
fact that the leading European banks, except the
Russian institution, were losers of gold during the year,
their combined holdings having been some 35 millions
of dollars smaller at the close than on Jan. 11910.
The visible stock of gold in the United States, as compiled by the Treasury Department, was, on the other
hand greater by 70% million dollars at the close of
the year than at the opening. India and Egypt were
also appreciable gainers of the metal through imports
from Great Britain. A very large part of the year's
production is not to be accounted for by any information that is now available. It is a known fact,
however, that the treasuries of the various countries
of the world are steadily accumulating gold, and the
same is true of banks outside of Europe and the United
States. In any event, with a year's yield of over
450 millions of gold, the European banks were
collectively unable to strengthen their reserves of the
metal.
The following detailed compilation of the gold
product will enable the reader to trace the growth of
the contribution from the various sources of supply
since 1880. Corresponding information from 1871 to
1881 will be found in Vol. 70 of the "Chronicle," page
256, and from 1851 to 1871 in Vol. 54, p. 14, or in
1887 issue of the Financial Review.
COL D.
-PRODUCTION
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1:.0
Oi 0CD 0;
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5 20'222 Co
IN THE WORLD-OUNCES AND VALUES.
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ercoc0,-IN
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Official Details from Gold-Producing Countries.
From the returns we have obtained from the mines,
mint bureaus and other official and semi-official
sources respecting gold mining in 1910, we are able to
deduce the following.
United States.-The steady progress in gold mining that
was witnessed in 1908 and 1909 was followed by a setback
in 1910, the mines of the country, according to the preliminary estimate of Mr. George E. Roberts, Director of the
Mint, having yielded about 175,000 fine ounces less than in
the preceding year. The loss was largely in the production
of Alaska, which fell off 162,136 fine ounces, due to declining
results in the Nome and Fairbanks districts. In Colorado,
also, there was a decrease of moderate proportions,and from
South Dakota and Montana a smaller yield was secured.
California, on the other hand, shows an increase of 21,409
fine ounces in output, and again assumes the position of the
leading gold-producing State of the country. The greatest
augmentation in yield, however, was in Nevada, where an
increase of 75,264 fine ounces is shown, and, furthermore,
the output of the State in 1910 was greater than that of
Alaska. The advance of Nevada into prominence as a gold
producer, through the discoveries at Goldfield, Tonopah, &c.,
has been the feature of recent years. As late as 1900 the
value of the gold product of the State was only $2,006,200
and in 1905 was but little more than 5 millions, being surpassed by that of four other States. In 1910, however, it
was exceeded only by the output of California and Colorado,
having passed Alaska and South Dakota. The net result
of gold mining in the United States in 1910 was a loss in
yield of 175,030 fine • ounces, valued at $3,618,186. Tile
ounces and values, as estimated for each State in 1910, compare as follows with the final figures for 1909 and 1908.
GOLD PRODUCTION IN UNITED STATES.
Gold
1908
1909
1910
Production. Fine ozs.
Value.
Fine ozs.
Value.
Fine ozs.
Value.
Colorado ___1,106,385 822,871,000 1,056,831 821,846,600 987,270 820,408,641
California ___ 935,074 19,329,700 1,001,538 20,703,600 1,022,947 21,146,150
Alaska
960,669 19,858,800 983,932 20,339,600 821,796 16.987,990
South Dakota 374,529 7,742,200 317,996 6,573,600 260,732 5,183,070
Montana
3,750,100 167,637 3,465,364
152,865 3,160,000 181,411
Arizona
120.937
2,500,000 127,072 2,626.800 163,278 3,375 256
Utah
190,922 3,946,700 203,819
4,213,300 205,299
4,243,907
Nevada
565,475 11,689,400 792,684 16,386,200 867,928 17,941,643
Idaho
69,829
65,026
1,344,200
1,443,500
48.033
992,930
Oregon
43,823
40,103
905,900
829,000
30,533
631,173
New Mexico
14,817
12,229
306,300
252,800
397,974
19,252
Washington._ 12,273
20,753
253,700
429,000
34,412
711,359
South. States 12,383
256,400
5,810
160,891
120,100
7,788
Other States_
14,339
296,400
12.505
408.766
258.500
19,774
Africa.-Various causes operated as a partial check to
gold-mining expansion in Africa in 1910, and as a result the
gain in yield over 1909 was, as already indicated, of merely
nominal proportions. Due in part to insufficiency or inefficiency of labor, as well as to the running into poorer ores
in the lower levels, the results in the Witwatersrand distric
during the first half of the year, month by month, were quite
generally less favorable than for the corresponding period of
1909, but a better yield in the last half more than offset the
early loss. Outside districts of the Rand also improved
somewhat on the 1909 yield, but Rhodesia and West Africa,
&c., gave collectively a product moderately smaller than
that for the previous year. Combining the data for the
various fields, we have of course an output for 1910 the
greatest on record, but, as intimated above, only a little
greater than that for 1909. The Witwatersrand district
alone produced in 1910 an aggregate of 7,228,588 fine ounces,
or only 2.7% more than in 1909;but, as stated,the monthly
results for the last half of the year were quite encouraging,
though the yield in December,at 616,668 fine ounces, was
21,185 ounces below the former record output of 637,853
fine ounces made in December 1908. The prospect for 1911
seems to be good and the labor problem has apparently been
satisfactorily solved. Rand results, month by month,
for seven years are appended.
oti •r.r=.-;rco
cocor-c-
01
* For flgures from 1881 to 1871 see Vol. 70, pages 256 to 260.
"
1871 to 1851 see Vol. 54, pages 141 to 144.
The ounces In the foregoing table for any of the countries given may be turned
Into dollars by multiplying by 20.6718. The value in pounds sterling may also be
ascertained by multiplying the ounces by 4.2478. Thus, according to the above.
the product in Africa in 1910, stated in dollars, Is 8175,540,543, and in sterling
£36,070,912.
Totals _4,574,320 $94,560,000 4,821,709 899,673,400 4,646,679 496,055,214
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Ounces.
January__
February.
March ___
April ___
May ___
June ___
July ___
August __
September
October__
November
December
WITWATERSRAND DISTRICT-FINE OUNCES.
1904.
1909.
1905,
1908.
1906.
1907.
278.867 357,214 411,256 520,089 540,202 591,976
282,436 351,052 389,283 475,785 520,969 550,645
299,625 385,575 424,773 520.163 563."40 592,415
297,470 385,394 420,467 518,243 543,301 587,626
306,586 400,149 441.936 506,100 658.243 603,411
299,913 396,188 456,014 487,956 550,240 596,216
298,825 401.121 473,385 513,655 561,988 599.078
301,113 410,859 489,787 534,598 645,545 590,924
301.131 399,536 486,522 517.746 565,439 585,730
313,928 397,838 521,397 532,993 594,064 581.132
324,011 407,056 516,193 530,215 591,204 576.768
349,889 414,421 529,521 562,684 637,863 583,209
1910.
579,743
550,422
581,899
594,339
606,724
598,339
010,084
623,129
621,311
627,444
617,905
516,668
Total* .2,653,794 4,706,433 5,559,534 6,220,227 0,782,538 7,039.136 7,228,588
FEB. 18 1911.]
THE CHRONICLE
From other sections of Africa, embracing the outside districts of the Transvaal, which gave more gold in 1910 than
in 1909, and Rhodesia, West Africa, dtc., which produced
less, the combined yield was smaller than in the previous
year. The subjoined table, covering the progress in gold
mining in all districts of Africa since 1886, should require
no explanation.
AFRICA'S GOLD PRODUCTION-FINE OUNCES.
Total----Witwatersrand--Other
Ounces.
Year.
Ounces.
Ounces.
122,140
28,754
1887(part yr)
28,754
122,140
1,020,600
240,266
212,390
1888
50.000
808,210
190,266
1,554.794
366,023
212.390
50,000
1889
316,023 1.342,404
479,302 2.035,980
303,939
71,552
1.732,041
1890
407.750
727.912 3,092,024
539.691
1891
600,860 2.552.333 127,062
631,652 1.150,519
4,887,176
1892
1,001,818 4,255,524 148,701
679,550 1,381.128 5,866.756
5,187,206 159,977
1893
1,221,151
967.500 1,865,538 7,924.434
1894
1.637.773 6,956,934 227,765
1,845,138 7,837,779 270,000 1.146,906 2,115,138 8.984.685
1895
7,888,465 293.035 1,244,755 2.150,106 9,133,220
1,857,071
1896
2,491.552 10,583,616 326.941 1,388,780 2,818,493 11,972,396
1897
3.562.813 15,134.115 341.908 1.452.357 3.904,721 16,586,472
1898
3.360.091 14,273,018 305.784 1,298,909 3.665,875 ,15,571.027
1899
1,679.518 166,922
709,051
395,385
562,307 2.388,569
1900
1,015.203 235,701 1,001,211
238.995
1901
474.696 2,016,414
1,691.525 7.185,260 307,286 1,305.299 1.998.811
1902
8.490,559
2,859,479 12,146.494 458,183 1,946,290 3,317,662 14.092.784
1903
3,653.794 15,520,329 509,747 2,165,303 4,163,541 17,685,632
1904
4,706,433 19.991.658 788.040 3,347,436 5.494,473 23,339,094
1905
5.559,534 23,585,400 1,042.151 4,486.849 6.601.685 28.072.249
1906
6,220,227 27,403.738 1,200,847 5,100,958 7,421,074 32,504,696
1907
6,782,538 28,810,393 1,397,147 5,934,845 8,179,685 34,745,238
1908
7,039,136 29.000,359 1,295,468 5.502.889 8,334.604 35,403,248
1909
1910
7.228,588 30,705,089 1,263,200 5.365,823 8.491,788 36.070,912
Australasia.-The declining tendency in gold production
in Australasia which first manifested itself in 1906 is still
in evidence. Western Australia, the largest producer, was
the greatest sufferer in 1910, its yield dropping off 124,637
fine ounces. The other districts of Australasia also recorded
declines. Poorer ores mainly explain the falling off in what
was, not many years ago, the chief gold-producing country
of the world; but it is intimated that the gold-mining industry
has suffered not only through that cause, but from lack of
prospecting and the diversion of labor to other industries.
In 1905 Australasia's gold yield was 4,232,091 fine ounces;
now it is down to approximately 3% million fine ounces.
The subjoined table indicates the product, of each colony and
the total of all annually for a series of years.
PRODUCT OF GOLD
New So.
Yrs. Victoria. Wales.
1897- _747,744 268,840
1898-770,277 314.385
1899...703,418 468.665
1900..726.666 281,209
1901.-711,046 216,884
1902-728,380 254.432
1903_ _767,351 258,488
1904-.771,298 269.817
1905__ _810.050 274.263
1906--_786.054 253.987
1907___710,269 247,363
1908_ _676,001 224,788
1909_ _ _654.222 204,709
1910*_ _629,000 189,206
IN AUSTRALASIAN COLONES-FINE OUNCES.
Queens- Western
New
South Tasma- Total Aut.
land. Australia. Zealand. Australia. nia.
tralasla.
743,294
633,515 231.512 9,497 55,876 2.690,278
844,652
966,167 257.762 18,400 63.995 3,235.638
871,816 1.512,366 358.418 30,351 70,492 4,105.520
855,959 1,438,659 335,300 26,458 65.710 3,729.961
733,975 1,616,933 412.868 29,668 70.990 3,792.364
653,362 1.769.176 459,408 23,662 60,974 3,949,394
686,469 2.064,798 479,738 24,401 36,678 4.317,923
624,917 1,985.230 467.647 17,913 60.000 4,196.822
577,559 1,955,316 520,040 20,547 74,316 4,232,091
493.120 1,794.542 532.922 14,078 50.888 3.925,591
457,596 1,698,553 477,303 11,870 65,359 3,668,308
452,451 1,648,505 474.415 14,500 60,453 3,551.113
455,577 1,595,269 472,464 20,052 44,777 3,447,070
430,744 1,470,632 *429.441 *20,000 *40,000 3.209,023
a Estimated.
India.-The mines that go to make up the Colar field,
the district from which much the greater part of the gold
mined in India is secured, collectively report a slightly
larger yield than in 1909; but the output is still noticeably
less than for any of the years from 1903 to 1906 inclusive.
As will be observed below, the Colar field yielded in 1910
a total of 546,230 gross ounces, against 544,007 gross ounces
in 1909 and 534,377 gross ounces in 1908.
EAST INDIA-GOLD PRODUCTION PRINCIPAL MINES.
1909.
1910.
1908. 1907. 1906. 1905. 1904
Ounces. Ounces. Ounces.Ounces. Ounces. Ounces. Ounces.
Champion Reef
118,351 113,877 120,533 128,671 158,642 217.135 213,838
93,767 92,063 86.252 73,562 68,881 66,236 73.571
Ooregum
Mysore
228,727 228,249 216,488 209,441 205.918 205,389 201,909
Nundydroog
89,220 86,606 80,889 74,964 72.439 70,561 68.569
15,997 21,203 28,039 33.574 46,432 42,470 31,706
Balaghat Mysore
2.009 2.176 9,319 8.525 13.177 12,328
Mysore West & Wynaad
159
Coromandel
2,298 2.641
593 4,272
Totals
546,230 544,007 534.377 531.829 563.478 615,561 606.193
Russia.-While early information of a conclusive nature
is not obtainable from Russia, there is reason to believe
from such data as has come to hand that there were important developments in the gold-mining industry of the
country in 1910, especially in the workings in the Lena
basin. As a consequence there has been a further increase
in the gold output, though the full effect of the new discoveries during the year is not reflected in the late year's
returns. In the absence of any authentic approximation of
the year's yield, we have estimated the output of Russian
mines at $36,000,000, or 1,741,503 fine ounces, for the purposes of this compilation, the figures being subject to revision by the official report due near the close of 1911.
Details for the last fourteen years are appended.
425
Canada.-We are indebted to Mr. John McLeish, Statistician of the Department of Mines of Canada, for such information as we have obtained bearing upon gold production
in the Dominion in 1910. The estimate he furnishes indicates a very moderate increase in yield over 1909. There
was an augmentation of the production of the Yukon to the
extent of about $500,000, he says, and probably a small gain
in British Columbia. This would leave Eastern Canada
about as in the previous year. His estimate for the whole
Dominion indicates an enlargement of. production in 1910
of 30,718 fine ounces, the total yield being stated at approximately 504,310 fine ounces, against 473,592 fine ounces in
1909 and 476,112 fine ounces in 1908. The exhibit for Canada for the last fourteen years, in fine ounces and values, is
as follows:
Canada's production In 1897
1898
1809
10
1900
1901
1002
1903
1904
1905
1906
44
44
1907
Os
1908
114
GS
1909
44
Ile
116
1910
/4
di
11
id
14
11
al
GO
66
Of
al
11
11
di
is
64
Values.
6,089,500
13,838,700
21 324,300
27,016,752
24,462,222
20,741,245
18,834,500
16 400,000
14,486,800
128,.032832,,793820
Ounces.
294,582
669,445
1,031,563
1,350,475
1 183,362
1,003 359
911 118
793,350
7
50
80
1:8
60
60
0
9,842,100
9,790,000
10.425,000
405,553
476.112
473,592
504.310
Other Countries.-Aside from the countries referred to,
there are a few others in which gold mining has recently
made progress. Of these Mexico is the most prominent,
its product having increased steadily year by year since 1902,
and now the country ranks fifth in the matter of yield.
Returns are not yet available for the full year 1910, but the
partial figures at hand indicate that the completed result
will be an output of about 1,175,000 fine ounces, against
1,153,403 fine ounces in 1909. Japan and China are other
countries that are believed to have done better in the year
lately closed, and the product of South and Central America
was probably a little greater than in 1909. On the other
hand, the output of European mines apparently decreased.
Altogether, then, the net change in product of "other
countries" (not including Mexico) has seemingly been almost
nominal-a very slight gain.
Silver Production of the World.
We can only repeat what we have said in former yearsthat very little early data concerning the production of silver
are obtainable. The estimate for the United States, as prepared by Mr. Roberts, Director of the Mint, is at hand, as
usual, and it foreshadows an augmentation in output of
about 13
% million ounces. Information from Canada also would
appear to point to a gain of fully four million ounces in that
country, Mr. McLeish stating the increase in the output of
the Cobalt district at that figure, there having been further
development work during the year. Small gains are also,
it is anticipated, likely to be shown by the official results for
South America and Japan. Mexico's product, on the other
hand, according to current information, fell off about one
million ounces, and a decline is apt to be revealed by the
final data from Australasia. Fluctuations in the price of
silver at London during the year were within a comparatively
moderate range and netted an advance over 1909. The highest price was 263d., the lowest 23 3-16d. and the average
245
4d. In 1909 the average was 23 11-16d., or 15-16d.
lower, and the averages in the earlier years were 243
/d. in
1908 and 30 3-16d. in 1907.
We now present a statement of silver production covering
each year since 1890. See "Chronicle" of Feb. 11 1899,
page 258, for results back to 1871.
SILVER.-WORLD'S PRODUCTION IN OUNCES AND STERLING.
United
All Other
Total,
Pine
Stales.
Mexico.
Australia. Producers.
Total
Values.
Ounces.
Ounces.
Ounces.
Ounces.
Ounces.
Ounces.
Ea
1891____ 58,330,000 35,719,237 10.000.000 33.916,175 137,965,412 25,900.270
1892._ 63,500,000 39.504.800 13.439,011 36,496.175 152,939.986 25,370.518
1803..60.000.000 44.370,717 20.501.497 41,228,063 166.100,277 24,655.510
1894._ 49.500.000 47,038.381 18.073,440 53,140.696 167,752.517 20,226,410
1895.- 55.726,945 46.962.738 12,507.335 53.983.231 169.180,249 21.059.416
Total
'91-95_287.056.945 213,595.873 74.521.283 218.764,340 793,938,441 117,212,123
1890W..... 58 834.800 45.718.982 12,238.700 40,268.888 157,061.370 19,959.882
1897-- 53.860,000 53.903,180 11,878 000 44.431.992 164.073.172 18,885,500
1898_ _
54.438.000 56.738,000 10.491.100 51.560,764 173,227.864 19,488.185
1899-- 54,764,500 55.612,090 12,686,653 44.161.000 167.224,243 19.161,112
1900-- 57,647,000 57,437.808 13.340.263 44.413.802 172.838,873 20,344,575
Total
'96-00_279,544,300 269,410.060 60,634.716 224.836,446 834,425.522 97,839,204
1901____ 55,214.000 57,656.549 10,230.046 49,910.688 173.011.283 19.598.934
1902-- 55,500.000 60.176.604 8,026.037 39.060.842 162,763,483 16.318.731
1903_.. 54.300,000 70,499,942 9.682,856 33,206.394 167.689.192 17.292,944
Value
Ounces
Russia's production in 1897
123,245,666
1.124,511 1004___ 57,682,800 60.808,978 14.558,892 31,144,596 164,195,266 18,044.172
"1898
25,463,337
1,231,701 1905_ ___ 56,101.600 65,040.865 12.561.600 35.884.774 169.588,839 19,652.873
..
"18991,072,
22,167,100
333 Total
'01-05.278,798,400 314.182,938 55.059,431 189,207.294 837.248,063 90,908.654
"1900074,
20,145,500
537
..
1001
23 464,562
1,135,100 1906,...,_ 56.517.900 55.225,268 14.237,246 39,660,226 165.640.640 21,308.978
56,514,700 61,147,203 19,083,031 48,269,689 185,014,623 23,271,622
"1902
22,739,013
1,100,000 1007_
1003
24,632,200
1,191,582 1908.__. 52,440,800 73,664,027 17,175.099 59,906,444 203,186,370 20.636.116
1004
24,803,200
1,100,857 1909...... 54,721,500 73,949,432 16,359,284 66,185,417 211,215,633 20.846.543
"
" 1005
22,291,600
1,078,356 1910 (est.)56,438,695 73,000,000 16,000,000 72,500,000 217.838.695 22,364.182
..
" 1006
19,494,700
943,056 Total
'06-10_276,633,595 336,985.930 82,854,660 236,521.776 982.995,961 108.427.441
1907
26,684,000
1.290.840
1908
28.052,200
1,357.027
a Values of silver in this table are commercial values and are
on UN
1909
1.568,448 average price each year of silver as given by Messrs. Pixley & Abell.computed
32,381,300
London. Vans
.'
"1910
1.741,503 of£ In this table 14.8665.
36,000,000
426
THE CHRONICLE
RAILROAD GROSS EARNINGS FOR JANUARY.
• As was no doubt expected,our early compilation of
railroad gross earnings for the month of January
records only a very moderate increase as compared
with the earnings for the corresponding period in
1910. And yet that there should be any increase
at all must be oonsidered gratifying. Our early
statement always comprises mainly Western and
Southern roads, and therefore does not reflect conditions in the manufacturing districts or at the industrial centers, where trade reaction is considerable
of an influence at this time. When complete returns
shall be available for the whole railroad system of the
United States,it is very likely that an actual falling
off in gross earnings will be revealed by reason of the
diminution in the volume of manufacturing, mineral
and merchandise tonnage on the roads running through
the Eastern and Middle States. In the case of the
Western and Southern roads,however,it has long been
a matter of comment that current earnings should
be so well maintained and even record further increases,notwithstanding the many evidences of trade
reaction which have been manifest here in the East.
For January now we have a good sprinkling of roads
which are obliged to report diminished gross revenues.
These losses have offset to that extent the gains
registered by roads whose revenues still keep on
expanding, and as a consequence the improvement for
the roads as a whole comprised in to-day's tabulation
is of only moderate proportions.
Stated in brief the gain for January by these early
returns amounts to only $1,360,699, or 2.31%. The
results cover 88,919 miles of road (including a few
Canadian lines), or somewhat more than one-third
the railroad mileage of the country. For December
on substantially the same mileage the increase was
$5,364,874, or 8.55%. But the smaller improvement
now recorded can not be accepted as reflecting any
change in fundamental conditions on the Western
and Southern roads that contribute returns to the
present exhibit. The change follows entirely from
the fact that some,of the Far Western roads suffered
from certain unfavorable influences in the month in
question, more particularly adverse weather. The
winter here in the East, and in fact over the greater
part of the country, has been unusually mild thus far,
so that the railroads as a whole have been favored in
that respect. Nevertheless, in a certain more or less
limited area West of the Missouri River weather of
unusual severity was encountered during January the
present year. In Nevada and Montana, apparently
unprecedented snow storms prevailed. Some of our
readers may recall the dispatches which appeared in
the daily papers on January 13 from Helena, Mont.,
from Sacramento, Cal., and from Reno, Nev. The
telegram from Reno said that the snow- storm was the
heaviest in memory in that district and that after
a steady fall of thirty-six hours there was a record
depth of snow of two feet on the level land, while at
Truckee a depth of twelve feet was reported and at
Immigrant Gap, Cal., six feet. The telegram from
Helena stated that blizzard conditions prevailed
throughout the central section of Montana,with the
thermometer 20 degrees below zero. From Sacramento it was noted that East and West-bound overland
trains of the Southern Pacific and Western Pacific
[VoL. Lxxxxii.
had been stalled since the previous day and the lines
of communication destroyed in the Sierras "during
one of the heaviest snow storms and blizzards that
have raged in fifty years." From Spokane, Wash.,
reports came that fifty passengers from Chicago and
Eastern points were being held prisoners in a Great
Northern train that was hemmed in by giant snow
drifts in one of the highest passes of the Rocky
Mountains in Montana.
Under these circumstances, and bearing in mind
that the Canadian lines suffered from the same conditions on the Western half of their systems, it is
not surprising that our table should contain quite
a number of roads registering considerable losses in
earnings. The Great Northern reports a falling off
of $662,240, the Canadian Pacific a loss of $357,000,
the Colorado & Southern $82,589, the Denver dc Rio
Grande $49,000, the Texas & Pacific $38,743, &c.
One little road in that part of the country, namely
the Nevada-California-Oregon, was almost snowed
under and earned only $11,070 gross in January 1911,
as against $26,345 in January 1910. On systems
not affected by these circumstances-that is roads
subject to normal conditions and influences-continued expansion in earnings appears to have been
the rule, as is indicated in the gain of $301,103 reported by the Illinois Central, that of $297,659
reported by the Southern Ry., that of $255,078
shown by the Chesapeake & Ohio, the increase of
$199,759 by the Missouri Kansas & Texas, &c., &c.
In the following we indicate all changes for the separate
roads or systems for amounts in excess of $30,000,
whether increases or decreases. It will be observed
the increases greatly outnumber the losses.
PRINCIPAL CHANGES IN GROSS EARNINGS IN JANUARY.
Increases.
Increases.
$39,148
$301,103 Chicago Great Western__
Illinois Central
38,572
297,659 Mobile & Ohio
Southern Railway
30,400
Northern
Canadian
255,078
Ohio
&
Chesapeake
228,247
Grand Trunk
Representing 20 roads
199,759
Missouri Kansas & Texas
in our compilation_ _ $2,500,284
159,500
Yazoo & Miss Valley_ _ _ _
St Louis Southwestern_ _
127,092
Decreases.
125,000
Missouri Pacific
$662,240
123,487 Great Northern
Chicago & Alton
357,000
118,000 Canadian Pacific
Central of Georgia
82,589
92,930 Colorado ee Southern_ __ _
Seaboard Air Line
51,445
87,929 Minn St P &SSM
Ldhlsville & Nashville__ _
49,000
69,696 Denver & Rio Grande__ _
Wabash
38,743
64,279 Texas & Pacific
Buffalo Roch & Pittsb_ _
60,510
Minneapolis & St Louis_ _
Representing 6 roads
41,896
Cin New Orl & Texas Pao
$1,241,017
In our compilation
39,999'
Ala New On & Texas Pac
In considering the significance of this year's results,
it must also be borne in mind that comparison is with
large and generally satisfactory earnings in. the
previous year, notwithstanding that adverse weather
was experienced at that time, too, and that it then
had a much wider sweep and covered a larger area,
though it did not affect precisely the same roads
which suffered the present year. The Great Northern
at that time had $1,485,812 gain and the Canadian
Pacific $1,245,000 gain. Altogether our early
table for January 1910 showed $7,356,827 increase
or 15.32%, and many of the roads distinguished for
gains this year had large increases also last year.
For example, the Louisville & Nashville in 1910
added $666,592 to the total of its gross and the present
year has added $87,929 more. In January 1909, likewise our early compilation registered a fair amount
of gain, namely $2,267,463, or 4.76%. In 1908
(following the panic the previous October-November)
there was, of course, a shrinkage in revenues, the
decrease then for the roads making early returns
being $4,976,393, or 8.74%. Prior to 1908, the
January record was one of continuous expansion,
where weather conditions interfered seriously
THE CHRONICLE
FEB. 18 1911.5
427
To complete our analysis we furnish the following
with railroad transportation, as may be seen by the
six-year
comparisons of the earnings of leading roads
following:
arranged
in groups.
Increase (-I-) or
Gross Earnings.
Mileage.
Or
Decrease(-).
January.
Year Yr.pre- InGiven. ceding. cr'se.
Year.
1897 -- 1898 -.1899 _
1900
1901 ____
1902 _ _
1903 ---1904 _ _
1905 _-_ _
1906 --1907 ---1908 ---1909 - -- 1910
1911 ____
Year
Preceding.
Year
Given.
91,113
95,817
93,605
95,543
97,369
95,656
95,095
79,629
80,160
81,800
93,516
83,870
79,732
82,136
88,919
90,550
94,873
92,416
93,427
94,683
94,011
93,137
77.749
78,338
79.997
91,670
82.857
78,148
80,688
86,550
January.
I
1911.
S.
Roads Miles. Miles.
124
125
118
104
102
94
75
66
62
54
68
58
51
50
51
EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP.
0.62
0.99
1.29
2.26
2.84
1.75
2.10
2.42
2.33
2.27
2.01
1.21
2.03
1.80
2.72
33,135,597
40,531,246
42,073,103
48,085,950
55,377,258
57,169,120
59,886,350
46,258,053
49,559,869
57,728,897
70,798,432
51,983.470
49,948,282
55,379,765
59.712,430
35,962.790
34,640,631
39,423,994
41,770,230
51,031,757
53,126,110
54,740,827
48,085,470
46,790,179
48,559,919
69,253.693
56,959,863
47,630,819
48,022,938
58,351.731
-2,827,193 7.96
+5,890,615 17.00
+2,649,109 6.72
+6,315,720 15.10
+4,345,501 8.51
+4,043,010 7.61
+5,145,523 9.40
_1,827,417 3.80
+2.769,690 5.92
+9,168,978 18.88
+1.544,739 2.23
-4,976,393 8.74
+2,267,463 4.76
+7,356,827 15.32
+1,360,699 2.31
Canadian Pacific_
Chic Grt West*__
Dul Sou Sh & Atl
Great Northern_
Iowa Central_ _ __
Minn & St Louis_
Minn StP & SSMa
Total
I
1910.
I
1909.
1908.
1907.
1906.
$
1
$
$
5,650,000, 6.007.000 4,761,860 4,498,56 4,205,527 4,422,690
918,520
879,372 816,921
660,64
710,297
682,540
235,120
219.885
196,967
226,50
224,126
199,207
3,533.56714,215,807 /2,729,995/3,073,78 2,543,527 3,647,660
279,184, 253,347
235,457
257,61
244,887
272,747
383,163
322,653
299,242
280,93
312,254
257,212
1,517,275' 1,568,720 1,330.378 1,287,86 1,246,387 1,392,804
12,516,829,13,466,784 10,370,820 10,258,60' 9,517,239110,871,919
* Includes Mason City dr Fort Dodge and the Wisconsin Minnesota & Pacific in
1911, 1910, 1909 and 1908. a Includes Chicago Division in 1911, 1910. 1909 and
1908: for previous years we have combined Minn. St. P. & S..s. M. and Wisconsin
Central. b Actual figures of earnings are now used for comparison.
EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.
Note -Neither the earnings of the Mexican roads nor the mining operations of
the anthracite coal roads are inicuded in this table.
Southern roads, we need hardly say, had the
advantage the present year of a larger cotton traffic,
but solely by reason of the fact that the movement
of the staple the previous year had been very small.
At the Southern outports the receipts for the month
the present year were 976,659 bales, as against only
580,384 bales in January last year, but comparing
with 1,122,148 bales in January 1909. The shipments
overland were 169,424 bales, as against 151,778 in
1910 and 204,756 bales in 1909.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN JANUARY
1911, 1910, 1909, 1908, 1907 AND 1906.
January.
Ports.
1911. 1 1910.
Galveston
Port Arthur, &c
New Orleans
Mobile
Pensacola, &a
Savannah
Brunswick, &o
Charleston
Georgetown, &a
Wilmington
Norfolk
Newport News, aro
Total
bales _ 274,839 271,185
147,882 18,833
229,089 151,420
26,359 19,783
30,248 13,097
134,625 61,410
36,078 3,988
12,106 4,095
220
233
36,992 8,956
47,144, 25,924
1,064 1,473
1909.
1908.
1907.
398,687
80,601
206,950
42,401
28,500
126,267
56,299
21,631
348
34,486
61,479
3,499
386,994
49,518
333,850
41,303
35,933
140.164
58,977
16,335
127
55,825
62,649
297
591,514 202,189
26,432 13,311
369,864 174,836
35,698 22,249
27,364 37,855
134,928 72,585
18,374 19,501
8,249 6,574
270
234
30,700 13,935
74,765 32,935
11,138 3,046
1906.
976,659 580,384 1,122,148 1,181,972 1,329,296 599,249
The Western grain movement does not appear to
have equaled that of the previous year. The corn
deliveries ran larger and so did the oats deliveries;
but the wheat deliveries compared with a large total in
1910,and accordingly the wheat aggregate for the four
weeks ending January 28 1911 was only 12,608,547
bushels, against 17,433,124 bushels in the corresponding period of last year. Combining wheat, corn,
oats, barley and rye, the total grain receipts at the
Western primary mats for the four weeks of this
year were 50,841,200 7ushels, as against 52,722,757
bushels in the same period of 1910. In the subjoined
table, we give the details of the Western grain movement in our usual form.
WESTERN FLOUR AND GRAIN RECEIPTS.
Four weeks endBarley,
Flour,
Wheal,
Corn,
Oats,
ing Jan. 28(Ills.)
(bush.)
(bush.)
(bush.)
(bush.)
Chicago1911
389,735
702.100 11,394,200 8,008,600 1,873,000
661,609
1910
803,000 8.260,250 5,116,000 1,761,500
Milwaukee177,859
375,160
1911
674,610
883,400 1,166,100
216,850
301,400
558,800
1910
541,500 815,100
St. Louis186,760 1,118,511 2,296,700 1,581,350 297,892
1911
219,050 1,646,135 2,960,424 2,011,200 301,600
1910
Toledo238,000
682,900
166,500
1911
123,000
312,550
139,250
1910
Detroit462,828
71,505
146,341
1911
15,890
315,292
73,300
11,867
145,219
1910
Cleveland223,057
1911
52,559
207,332
1,416
1,081
678,342
208,697
1910
3,988
44,018
27,031
Peoria144,923
401,800 232,500
1911
53,733 1,937,038
932,450 242,200
358,894
1910
66,276 1,650,855
Duluth37,530 1,218.439
165,808
96.447 116,361
1911
769,161 341,865
28,605 1,831,775
1910
Minneapolis861,620 1,401,830
1911
7,226,740 1,034,850
9,913,970 1,098,570 1,240,830 2,052,170
1910
Kansas City284,300
1,551,800 1,256,400
1911
430,500
2,630,250 1,854,000
1910
Total of all1911
1910
954,113 12,608,547 20,128,391 12,637,690 5,088,764
1,600,663 17,433,124 17,689.083 11,534,807 5,541.466
January.
1911.
1909.
1908.
1907. 1 1906.
I 1910.
$
1
$
$
$
$
717,336
501,786
Buff Roch dr Pitts 781,615
467,183
673,258
708,672
359,955
Chic Ind dr Louis 416,939; 414,414
336,422
430,897
423,038
Grd Trk of Can 1
I
Grd Trk West../ 3,381,2391 3,152,992 2,640,416 2,768,444 3,240,854 2.826.439
Det G H & Mill
Canada Allan_ J
1
Illinois Central_./5,214,151 14,913,048 a4,831,070 a4,619,840 4,659,059 4,516,438
85,940
121,121
108,007, 107,615'
112,063
Tol Peor & West_
112,319
241,504
288,630
293,668
273,756
332,997
329,712
Tol St L & West_
2,351,916 2,282,220, 1,986,148 2,015,593 2,107,961 2,046,051
Wabash
,
12,527,623,11,881,293110,646,819 10,617,233 11,557,089 11,032.669
Total
i
a Embraces some large items of income not previously included in monthly
returns.
I No longer includes receipts for hire of equipment, rentals and other items.
EARNINGS OF SOUTHERN GROUPS.
Ala Great South..
Ala N 0 & T PNew Orl & N E.
Ala dr Vicksb_ _ _
Vicks Shr & P__
Atlan Birm & Atl
Cent of Georgia__
Chesap & Ohio__
Cin N 0 & Tex P
Louisv & Nash_b
Mobile & Ohio__
Seaboard Air L__
Southern Ry____
Yazoo & Miss V.
Total
1910.
1909.
1908.
1907.
1906.
393,827
371,038
$
307,255
254,168
342,670
328,021
314,823
154,949
135,585
225,010
1,097,800
2,796,930
784,349
4,509,290
933,304
1,776,4711
4,777,878.
1,056.2911
292,871
146,057
126,430
210,359
979,800
2,541,852
742,453
4,421,361
894,732
1,683.541
4,480,219
896,791
296,130
140,331
127,295
173,497
914,557
2,109,653
662,813
3,754,769
811,929
1,529,157
4,035,975
942,001
245,390
132,113
123,520
107,667
877,107
1,884,763
555,657
3,299,868
731,263
1,215,680
3,802,217
a935,579
277,104
146,732
134,868
139,904
1,092,46
2,000,288
591,012
4,077,101
933,623
1.457,257
4,616,719
967,849
263.577
132,865
132,788
86,144
921,749
2,225,816
709,362
3,749,549
824,985
1,314,669
4,553.356
901,618
'1911.
January.
18,958,507,17,787,504 15,805,362 14,164,992 16,777,591516,144,497
1
a Includes, beginning with this year, some large items of income not previously
included in monthly returns. b Includes Louisville Sr Atlantic and the Frankfort
cir Cincinnati in 1911, 1910 and 1909.
EARNINGS OF SOUTHWESTERN GROUP.
January.
1911.
$
Colo & Southern* 1,311,733
Deny & Rio Gran 1,648,100
714,000
Intern dr Gt Nor_
Mo Kan & Texasa2,315,343
Missouri Pacific_ 4,306,000
St Louis Sou W- 1,041,627
Texas & Pacific_ 1,322,540
Total
1910.
1909.
$
$
1,394,322, 1,265,683
1,697,1001 1,569,468
700,0001 655,331
2,115,5841 2,005,218
4,181,000 3,673,253
914,535
834,902
1,361,283 1,246,809
1908.
1
1906.
1907.
$
1
$
1,269,049 1,174,554
1,433,123' 1,594,143
596,391' 832,711
1,791,386, 2,293,268
3,243,8671 3,830,629
722,3541 850,323
1,261,840; 1,636,474
1,014,951
1,586,451
546,145
1,69'3,094
3,693,751
715,638
1,282,342
12,659,343 12,363,824111,250,664 10,318,010 12,212,100 10,534,372
*Includes all affiliated lines except Trinity & Brazos Valley RR. a Includes the
Texas Central In 1911.
GROSS EARNINGS
AND
MILEAGE IN
JANUARY.
Gross Earnings.
Mileage.
ivarny wivocui.
Alabama Great South_
Ala New On & Tex PNew Orl & Nor East_
Rye,
Alabama & Vicksb__
(bush.)
Vicks Shreve & Pac_
94,500 Ann Arbor
69.000 Atlanta Birm & Atlan_
Bellefonte Central
98,940 Buffalo Roch & Plash_
63,000 Canadian Northern....
Canadian Pacific
45,100 Central of Georgia
35.000 Chesapeake & Ohio
Chicago & Alton
3,000 Chicago Great Western
14,000 Chic Indianap & Louisv
Cin New On & Tex Pac
Colorado & Southern
Denver & Rio Grande_
Denver Northw & Pac_
Detroit Se Mackinac _ _ _
Detroit Tot & Ironton_
Duluth Sou Sh & Atl
Florida_
28,500 •Georgla Sou &of Can..
40,700 Grand Trunk
Grand Trunk West_
Det Gr Hay & Milw
11'8
Canada Atlantic_ _ _
51,997
Great Northern
Central
107,650 Illinois
Great North
250,580 Internat &
Iowa Central
Nan City Max & Orient
Louisville & Nashville_
Macon & BirinIngham_
Mineral Range
& St Louis
377,808 Minneapolis
Minn St Paul & S S H.
524,277
1911.
1910.
$
393,827
Inc. (±) or
1 Dec. (-). 1911. 1910.
$
371,038
s
+22,789
309
309
314,823
154,949
135,585
183,512
225,010
6.066
781.615
822,800
5,650,000
1,097,800
2,796,930
1,111,393
918,520
416,939
784,349
1,311.733
1,648,100
66,356
90,543
138,234
235,120
198,882
292,871
+21,952
196
146,057±8.892
143
126,430
+9,155
171
177,949
-14,437
301
210,359
+14.651
681
5,251
+815
271
+84,279
717,336
5081
792,200
+30,400 3,3861
6,007,000 -357,00010,276,
979,800
+118,000 1,9151
2,541,852
+255,078 2,224
987,906 +123,487 1,028
879,372
+39,148 1,489
+2,525
616
414,414
+41,896
336
742,453
-82,589 1,964
1,394.322
-49,000 2,553
1,697,100
60,490
+5,866
214
91,482
-939
360
108,423
21,811
441
219,885
+15,235
608
205,305 . -6,443
395
3,381,2391
3,152,992
+228,247 4,528 4,528
4,215,807
4,913,048
700,000
253,347
135,200
4,421,361
12,032
65,600
322,653
1.568.720
-662,240
+301,103
+14,000
+25,837
+22,700
+87,929
+506
-196
+60,510
-51.445
195
143
171
301
640
27
568
3,224
9,916
1,915
1,939
998
1,487
616
338
2,032
2,553
214
348
441
597
395
1
3,553,567
5,214,151
714,000
279,184
157,900
4,509,290
12,538
65,401
383,163
1.517.273
7,275
4,551
1,160
558
740
4,591
105
- 127
1,027
3.572
7,037
4,551
1,160
558
660
4,598
105
126
1,027
3.424
428
THE CHRONICLE
Gross Earnings.
[VoL. Lxxxxii.
temporary embargo on some of the ordinary business
activities of the day. One of the results, it may be
$
$
$
recalled, was the shutting down of the flour mills in
2,315,343
2,115,584 +199,759 3,381 3,072
Missouri Kan & Tex_a_
4,306,000 4,181,000 +125,000 7,235 6,493 Minneapolis for
Missouri Pacific
the time being, owing to the inability
933.304
894,732
Mobile & Ohio
+38,572 1,114 1,114
11.070
26,345
Nevada-Cal-Oregon
-15.275
184
184 of the roads to deliver the necessary
supplies of wheat,
d151,283
d139,118
New On Mobile & Chic
+12,165
403
403
36.367
45,025
Rio Grande Southern_ _
-8,658
180
180
1,041.627
914,535 +127,092 1,471 1,469 and another was the partial discontinuance of copper
St Louis Southwestern_
1,776,471
1,683,541
Seaboard Air Line_ _ _ _
+92,930 3,027 2,986
4,777,878
4,480,219
Southern Railway
+297,659 7,039 7,050 mining and smelting operations in Montana. The bad
1,322,540
1,361,283
Texas & Pacific
-38,743 1,885 .1,885
108,007
107,615
Toledo Peoria & West_
+392
248
248 weather, however, was perhaps the most serious
273,756
Toledo St L & Western
293,668
-19,912
451
451
2,351,916
Wabash
2,282,220
+69,696 2,514 2,514 adverse factor on that occasion,
and its effects were
1,056,291
896,791
Yazoo ec Miss Valley
+159,500 1,372 1,371
greatly intensified where the roads had to contend
Total (51 roads)-- _ - 59,712,430 58,351,731 +1,360,699 88,919 86,559
Net increase (2.31%)- simultaneously with the strike of the switchmen. The
Mexican Roads (not Inc luded in tot al)Interoceanic of Mexico_
763,143
744,234
+18,909 1,035 1,018 results were unfavorable in a double way-first, in
713,400
641,400
Mexico Railway
+72,000
361
340
5,332,751
5,018,765 +313,986 6,147 6,166 reducing the volume of traffic, and,secondly,in adding
Nat Rys of Mcxlco_z
greatly to the expense of transporting it. As a consea Includes the Texas Central In 1911 only.
d These figures are for twenty-eight days only In both years.
quence, the Northern Pacific, the Milwaukee &
includes
Mexican
International
in both years.
z Now
St. Paul, the Rock Island, the Great Northern, the
Burlington & Quincy,and some others, all reported
RAILROAD GROSS AND NET EARNINGS FOR heavy losses in both gross earnings
and net earnings,
DECEMBER.
and the part these losses played in controlling the
In the previous article we have discussed the advance exhibit for the United States railroad system as a
figures of railroad gross earnings for the month of whole can be judged from the fact that our compilaJanuary. In the present article we deal with the tions at the time showed $13,925,317, or 6.83%, infinal figures for December 1910 and treat of the results crease in gross (which was very much less, both abas to both gross and net. The showing for this latter solutely and proportionately, than the gains for
period in gross and net alike is more favorable than preceding months), while in the net at that time, on
was the similar showing for November or for the account of the great rise in operating expenses, there
months immediately preceding. For instance, the was actually a loss of $1,302,623.
present December compilation records $15,067,962
An excellent illustration demonstrating that the imgain in gross and $2,175,077 gain in net, while in both proved comparisons for December 1910 follow from
November and October the increase in gross was very the poor results of the previous year is furnished when
small and the net recorded losses in the large sums, the returns of the separate companies are examined.
respectively, of $10,488,886 and $10,489,004.
Western roads, which, by reason of the circumstances
Hasty inferences might lead to the conclusion that here narrated, had sustained large losses in December
there has now been a definite change in the character 1909, are the ones that have gains on the present
of the results, and that henceforward much better occasion, usually in both gross and net. On the other
returns can be counted on. But such inferences would hand, Eastern roads, which had no such advantage in
be entirely unwarranted. The comparison for Decem- the comparison, are the ones that record losses, and
ber is good for precisely the same reason that the these losses are almost invariably much heavier in the
January showing is relatively poor. In the one case net than in the gross, indicating that the same unfavorsmall earnings and adverse weather the previous year able operating conditions which ruled in all the prehave improved the comparison; in the other case large ceding months back to last July continued in force
earnings the previous year, together with unfavorable during December. Thus the Atchison has $1,185,311
weather conditions the present year, impairs the nature gain in gross and $842,165 in net; the Milwaukee &
of the comparison. In other words, for December we St. Paul $1,062,091 in gross and $554,931 in net; the
are comparing with a period.in 1909 when the roads Rock Island $962,765 in gross and $933,413 in net; the
encountered exceptionally unfortunate meteorological Burlington & Quincy $889,532 hogross and $986,578 in
conditions and also experienced other adverse influ- net; the Great Northern $838,360 in gross, $986,627 in
ences, the two together resulting in the case of a net; the Northern Pacific $623,941 in gross, $841,541
number of important systems in large losses in earn- in net; the North Western $760,263 in gross, $675,418
ings. With the absence of these disturbing condi- in net; the Union Pacific $55,444 in gross, $292,871 in
tions in 1910 the returns naturally improved and net, &c.
It is companies like the Pennsylvania, the New
the losses of the previous year were recovered.
York
Central, the Baltimore & Ohio, &c., that reflect
The part played by adverse weather in the previous
old
the
conditions and show at once the presence of
year deserves to be strongly emphasized on this occadepression
in trade, involving a diminution in gross
sion, for many of the roads at that time reported the
earnings and continued growth in operating expenses.
worst conditions experienced in a generation. The
The Pennsylvania, on the lines directly operated east
whole of the territory between the Mississippi River
and west of Pittsburgh, fell behind $639,891 in gross,
and the Pacific Coast appears to have been affected.
while expenses mounted up no less than $1,811,665,
There were heavy snow-falls, and temperatures also
leading, therefore, to a loss in net in the large sum
were in many sections exceptionally low. In addition, of $2,451,556.
The New York Central managed to
the transcontinental lines running from St. Paul and add $455,054 to its gross
revenues, but expenses ran
Duluth to the Pacific Coast had a strike of their up in such a way as to
produce a loss of $640,552 in
switchmen to contend against. This strike was pre- net. This is for the Central
proper. Including the
cipitated on the evening of Nov. 30, and during the various auxiliary and controlled
roads, the whole going
early days of December 1909 it proved exceedingly to form the New York Central System, the result is
disturbing, not merely in interrupting normal condi- $1,064,022 gain in gross, together with $1,391,837
tions in the operation of the roads, but in putting a loss in net. In the following we show all changes for
Name of Road.
1911.
1910.
Mileage.
Inc. (+) or
Dec. (-). 1911.11910.
FEB. 18 1911.I
THE CHRONICLE
the separate roads for amounts in excess of $100,000,
whether increases or decreases, in both gross and net:
PRINCIPAL CHANGES IN °ROSS EARNINGS IN DECEMBER.
Increases.
Increases.
Atoll Top & Santa Fe_ _ $1,185,311 Central of Georgia
$160,657
Chicago Milw & St Paul_ 1,062,091 Norfolk & Western
148.974
Rook Island
962,765 Nashville Chatt & St L._
146,275
Chicago Burl & Quincy
889,532 Virginian
141,130
Great Northern
838,360 Colorado & Southern__ _ _
136,344
Chicago & North West
760,263 Chicago & Eastern II1
135.668
Northern Pacific
623,941 San Pedro Los A & S L.
131,680
481,459 Vandalia
Illinois Central
128,847
a455,054 Lake Shore & Mich Sou_
N Y Cent & Hudson Riv_
124,867
Chicago Milw & Puget Sd
425,142 Central of New Jersey_ _ _
113,999
404,735 Oregon & Washington_ _
Southern
113,638
403,989 Kansas City Southern.._ _
St Louis & San Francisco_
113,250
c398,080 Grand Trunk Western_ _
Missouri Kansas & Texas
109,245
310,421 Texas & Pacific
Cleve Cin Chic & St L
108,000
287,831 Phila Balt & Washington
Louisville & Nashville
107,347
271,470
Chic St P Minn & Omaha
261,966
Yazoo & Miss Valley_ _ _
Representing 42 roads
251,774
Wabash
in our compilation_ _$14,013,689
c250,427
Southern Pacific
232,440
Michigan Central
Decreases.
231,358 Pennsylvania
St Louis Southwestern
y$639,891
Atlantic Coast Line
221,400 Pittsburgh 46 Lake Erie_
287,659
Missouri Pacific
c211,139 Baltimore & Ohio
142,755
Chicago & Alton
178,482 Elgin Joliet & Eastern
111,442
Seaboard Air Line
168,919
Denver & Rio Grande_ _ _
164,140
Representing 4 roads
Chicago Great Western
161,279
in our compilation__ $1,181,747
Note.-All the figures in the above are on the basis of the returns filed
with the. Inter-State Commerce Commission. Where, however, these
returns do not show the total for any system, we have combined the separate roads so as to make the results conform as nearly as possible to those
given in the statements furnished by the companies themselves.
a These figures cover merely the operations of the New York Central itself.
Including the various auxiliary and controlled roads, like the Michigan Central, the Lake Shore, the "Big Four," the "Nickel Plate," &o., the whole
going to form the N. Y. Central System, the result is a gain of $1,064,022.
c These figures are furnished by the company.
y These figures represent the lines directly operated east and west of
Pittsburgh, Eastern lines showing $408,677 decrease and the Western lines
$231,214. For all lines owned, leased, operated and controlled, the result
for the month is a loss of $313,975.
PRINCIPAL CHANGES IN NET EARNINGS IN DECEMBER.
Increases.
Decreases
Great Northern
$986,627 Pennsylvania
y$2,451,556
Chicago Burl & Quincy_ _
986,578 N Y Cent & Hudson Riv_
a640,552
Rock Island
933,413 Lake Shore & Mich Sou..
479,849
Atch Top & Santa Fe__ _
842,165 Baltimore & Ohio
388,014
Northern Pacific
841,541 Boston & Maine
350,771
Chicago A: North West_
675,418 Pittsburgh & Lake Erie_
287,106
Chicago Milw & St Paul_
554,931 NYNH& Hartford_ _ _
259,110
Illinois Central
492,607 Lehigh Valley
241,505
Union Pacific
292,871 Duluth Missabe & Nor_ _
182,818
Yazoo & Miss Valley._ _
265,233 Louisville & Nashville__ _
177,781
Missouri Kansas & Texas
c227,322 Northern Central '
171,771
Chic Milw & Puget Sd__ _
161,046 Delaware & Hudson_
155,008
Denver & Rio Grande_ _
158,190 Delaware Lack & West_ _
146,722
Chicago St P Minn & 0_ _
145,752 Long Island
145,530
Southern Railway
133,928 Bessemer & Lake Erie_ _
142,811
St Louts Southwestern...
127,136 Pere Marquette
115,450
St Louis & San Francisco
125,643
oe Port re
rtnle.
Sseta
et
112,733
Representing 16 roads
Chicago Great
105,358
in our compilation
$6,336,354
Representing 19 roads
in our compilation__ $8,168,492
a These figures cover merely the operations of the New York Central
ItselfI
aicigan
Including
gentra,te
the zao
aVeoretg
auxII ry
Four
controlled
ivietelliate
d, liketh4
e,Big
the
&a., the whole going to form the New York Central System, the result is
a loss of $1,391,837.
c These figures are furnished by the company.
y These figures represent the lines directly operated east and west of
Pittsburgh. the Eastern lines showing $1,816,556 decrease and the Western
lines $635,000 decrease. For all lines owned, leased, operated and controlled, the result is a loss of $2,884,858.
429
December (713 roads)Miles of road
Gross earnings
Operating expenses
-Increase or Decrease1910.
1909.
Amount.
%
228,687
225,177 Inc.
3,510 1.51
$229,379,163 $214,311,201 Inc. $15,067,962 7.03
161,102,715
148,209,830 Inc. 12,892,885 8.70
Net earnings
$68,276,448
$66,101,371 Inc. $2,175,077 3.24
When arranged in groups or geographical divisions,
the showing as to net reveals clearly the distinction
that must be made between the roads in the eastern
half of the country and those in the West and South.
The first three groups, comprising respectively the
lines in New England, those in the Eastern and Middle
States and those in the Middle West, all register losses
in net. The remaining groups all record gain in net.
Our summary by groups is as follows:
SUMMARY BY GROUPS.
Gross Earnings
Increase(+)or
December1910.
1909.
Decrease (-).
Section or Group$
Group 1 (23 roads), New England_ ___ 10,358,774 10,084,787
+273.987 2.72
Group 2(133 roads), East & Middle__ 54,649,797 54,332,897
+316,900 0.58
Group 3(94 roads), Middle Western__ 31,349,385 30,343,685 +1,005,700
Groups 4 & 5 (138 roads), Southern__ 31,041,236 28,286,458 +2.754,778 3.31
9.74
Groups 6 & 7(109 roads), Northwest. 48,971,069 42,847,625 +6,123,444 14.29
Groups 8 & 9 (165 roads), Southwest_ 39,855,193 35,383,156 +4,472,037 12.64
Group 10 (51 roads), Pacific Coast___ 13,153,709 13,032,593
+121,116 0.93
Total (713 roads)
229,379,163 214,311,201 +15,067,962 7.03
Net Earnings
Increase(±)or
1910.
Decrease (-).
1909.
$
7,325 2,150,458 2,753,827 -603,369 21.90
25,773 14,281.959 18,273,217 -3.991,258 21.29
25,137 7,318.292 9,098,583 -1,780,291 19.57
38,532 11,058,775 10,566,612 +492,163 4.66
61,429 15,800,617 10,538,190 +5,262,427 49.94
52,363 12,562,401 9,798,854 +2,763,547 28.20
14,618 5,103.946 5,072,088
+31.858 0.63
-Mileage1910. 1909.
Group No. 1
Group No. 2
Group No. 3
Groups Nos. 4 & 5
Groups Nos. 6 & 7
Groups Nos. 8 & 9
Group No. 10
7,403
25,685
25,334
38,797
62,769
53,403
15,296
Total
228,687 225,177 68,276,448 66,101,371 +2,175,077 3.24
NOTE.-Group I. Includes all of the New England States.
Group II. includes all of New York and Pennsylvania except that portion
of Pittsburgh and Buffalo; also all of New Jersey, Delaware and Maryland,west
and
the extreme northern portion of West Virginia.
Group III. Includes all of Ohio and Indiana; all of Michigan except the northern
peninsula, and that portion of New York and Pennsylvania west of Buffalo and
Pittsburgh.
Groups /V. and V. combined include the Southern States south of the Ohio and
east of the Mississippi River.
Groups VI. and VII. combined include the northern peninsula of Michigan, all of
Minnesota. Wisconsin, Iowa and Illinois; all of South Dakota and North Dakota.
and
Missouri north of St. Louis and Kansas City; also all
of Montana, Wyoming and
Nebraska, together with Colorado north of a line parallel
to the State line passing
through Denver.
Groups VIII. and IX. combined include all of Kansas,
Arkansas and
Indian Territory; Missouri south of St. Louis and KansasOklahoma,
City; Colorado south of
Denver; the whole of Texas and the bulk of Louisiana: and
that
portion
of New
Mexico north of a line running from the northwest corner of the
State through
Santa Fe and east of a line running from Santa Fe to El Paso.
Group X. Includes all of Washington, Oregon, Idaho, California, Nevada,
Utah
and Arizona, and the western part of New Mexico.
We have already indicated that in December of the
previous year there was $13,925,317 gain (6.83%) in
gross but $1,302,623 loss (1.91%) in net. These were
our own figures, and covered 229,369 miles of road.
Some time later,the Inter-State Commerce Commission
published complete results, covering 237,189 miles,
and these showed $16,551,064 gain in gross, with
$280,893 loss in net. For December 1908 the InterState Commerce Commission reported $11,555,140 increase in gross and $16,962,654 increase in net. The
year before (December 1907) there had been a loss in
both gross and net. In the following we furnish the
December summaries for each year back to 1896. For
1909 and for 1908 we use the Inter-State Commerce
totals, but for preceding years we give the results just
as registered by our own tables each year-a portion
of the railroad mileage of the country being always
unrepresented in the totals, owing to the refusal of
some of the roads to give out monthly figures for
publication.
As already stated, notwithstanding the large losses
on many of the systems in the eastern half of the
country, the general results for all the roads, treated
as a whole, is a gain in both gross and net, the increase
reaching $15,067,962, or 7.03%, in gross, and $2,175,077 in net, or 3.24%. Our compilations are based,
as usual, on the returns filed with the Inter-State
Commerce Commission at Washington. As has so
often been pointed out by us, all the railroads in the
country (barring only a few minor lines operating
exclusively within State boundaries) are obliged to
render statements each month to the Inter-State
Commerce Commission. The returns when filed are
open to public inspection and we have transcripts of
them made for our own use. These transcripts come
to us in large numbers from day to day, and about the
20th of the month we bring them all together in a
Gross Earnings,
Net Earnings.
Year.
special supplement, called our "Railway Earnings
Year
Year
lIncrease or
Year
Year
Increase or
Given.
Preceding. Decrease.
Given.
Preceding. Decrease.
Section." One of the monthly numbers of the "RailDec.
$
$
$
1896 ___ 51,220,114 52,520,887 -1,300,773 17,883,104 17,930,398
way Earnings Section" accompanies to-day's issue 1897
-47,294
-- 67,542,721 59,449,009 +8.093.712 23.700.713 20,129,314 +3,571.399
1898- 70,810,178 66,979,889 +3,830.289 24,790,227 23,220,664 +1,569,563
of the "Chronicle," and in it the reader will find the 1899
- 78.244.324 71,010,127 +7.234,197 27,637,073 24,908,012 +2,729,061
1900.-- 90,789,657 81,465,495 +9,324,162 33,093,800 29,056,298 +4,037,502
December figures in detail for every railroad which 1901
96,268.122 92,628,931 +3,639,191 33,354,272 33,766.831 -412,559
1002 ...... 04,232,385 93,160,941 +11,071,444 33,245,049 30,891.659 +2,353,390
had rendered its returns for that month up to yesterday 1903
-- 06,978,224 102,928.990 +4,049,234 33,726,576 34,199,785 -473,209
1904-116,253,981 108.670,412 +7,58.3,569 36,794.527 32,411,588 +4,382,939
morning. The summaries we present in this article 1905
_- 133.775.020 119,125,94 +14.649.072 46.525,454 38,842,111 +7,683,343
1906 _ 135,735,226 124,733,435 +11.001.791 43,831.182 42.943,9
+887.282
are the aggregates derived from the statements of these 1907 _-- 132,199,762 141,312.429 -9,112,667 34.354,158 45,998,206-11,644,048
1908 _ 205,777.451 194,222,311 +11,555,140 68.495,740 51,533,086 +16.962,654
separate roads. From the figures given in the follow- 1909
___ 222,006.184205,455.121 +16,551,063 68,306,606 68,587,499 -280,893
229,379.163214.311,201 +15,067,962 68,276,448 66.101,371 +2,175.077
ing it will be seen that our general totals cover alto- 1910.-In 1896 the number of roads included for the month of December was 128
gether an aggregate of 228,687 miles, being over in Note.
1897. 130; in 1898, 122; in 1899, 110; in 1900. 121: In 1901, 104; in 1902, 105
In 1903, 99; in 1904, 95: in 1905. 96; in 1906, 96; in 1907, 89. In 1908 the returns
95% of the total railroad mileage of the country.
were based on 232,007 miles of road; in 1909, 237,189; in 1910. 228.687.
THE CHRONICLE
430
ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S.
—The public sales of bank stocks this week aggregate 168
shares, of which 118 shares were sold at the Stock Exchange
and 50 shares at auction. The only transaction in trust
company stock was a sale at auction of 5 shares of stock of
the Carnegie Trust Co. for $60, or $12 per share. The last
previous sale was made at 114 in Nov. 1910, before the
company's failure.
Low.
Shares. BANKS—New York.
100
25 Bronx National Bank
.76 Commerce, Nat. Bank of.. _ 208
196
.42 Fourth National Bank
3703
25 Park Bank, National
TRUST COMPANY—New York.
12
5 Carnegie Trust Co
High. Close. Last Previous Sale.
100
100
209 Y, 209
Feb. 1911— 208
199
198
Feb. 1911— 197
3703, 37031, Feb. 1911— 370
[17oL. Lx x
.
Sunday the 12th, were secret in nature; but from information
imparted to the newspapers on Sunday the plan in general
met with the approval of the delegates. The Philadelphia
"Ledger" in its issue of the 13th inst. publishes the following
announcement given out by a member of the conference
deputized to make a statement concerning the deliberations:
We analyzed the plan outlined by Senator Aldrich, section by section,
and made a few changes which were of a minor nature. In fact, they are
so unimportant that it may be said practically that the conference approved
the Aldrich plan. In every problematical test to which It was subjected
in debate, we found that it answers almost every condition and contingency
that may be reasonably anticipated. We believe that the revision it contemplates will tend to allay apprehension in time of stress and would avert
financial panics, so far as it is possible for legislation to do so.
In reply to a query as to whether the conference had approved the principle of a central control of issue as a substitute for a Central Bank, the member referred to is quoted
• Sold at the Stock Exchange.
—A statement with regard to the first month's operations as saying:
The conference has approved the Aldrich plan as it was submitted by
of the postal savings bank system was issued by Postmaster- him
to the Monetary Commission, and while some may refer to it as a cenGeneral Hitchcock on the 5th inst. He announced that the tral control of issue, yet It is different from such a system in many,essentials
total deposits in the forty-eight postal banks for January and solves the problem of procuring elasticity in currency which present
do not supply. The representatives of the banking interests of the
would amount to $60,000—an average of about $1,200. laws
nation can be said after the termination of the conference to have given
Assuming that this average will be maintained throughout their endorsement to the Aldrich plan and guaranteed it their active and
the year, the aggregate annual deposits is figured as close moral support.
George M. Reynolds, President of the Continental & Comto $750,000. It is also pointed out that the average amount
mercial National Bank of Chicago, one of those who took
of deposits being received at each office, as indicated by the
January returns, is larger than the corresponding average part in the conferences, upon his return to Chicago comfor the British system of postal savings depositories in 1908, mented upon the views of the bankers with regard to sugthe most successful year, it is stated, in the history of that gested changes in the plan, as follows: '
One of these was to change the maximum amount of dividends which
system. The Postmaster-General recommended that Con- the reserve association should pay its stockholders from 5% to 6%. It
gress appropriate $1,000,000,to be immediately available for was argued that some of the smaller banks In newer parts of the country
the extension of the system; under the bill making appro- were entitled to receive more than 5% on their investment in the reserve
association, since their loaning rates to customers are much above that
priations for the Post-Office Department, now pending in figure. We voted, therefore, to raise the maximum dividend to 6%. At
Congress, a sum of half the amount which the Postmaster the same time we recommended a further change in the distribution of
recommends, namely $500,000, is appropriated for his use in profits.
' The present recommendation of Senator Aldrich provides that after he
extending the number of depositories.
reserve association shall have accumulated a surplus of 20% and the stock
—Baron Albert A. S. von Rothschild, head of the Vienna holders shall have been paid 5%,then all the profits shall go to the Government. We thought that if It was good for an individual association to
branch of the banking house of Messrs. Rothschild, died at have a strong reserve,the same would be true of the great central association
Vienna on the 11th inst. He was sixty-seven years of age. and we recommended that after the 6% dividend to stockholders, one-third
the profits should go to surplus and the remaining two-thirds to the
He was the son of Anselm S. von Rothschild and a great of
Governm:;nt.
grandson of Mayer Anselm Rothschild, who founded the
The question of commercial paper was thoroughly discussed, and the
bankers agreed Unit In addition to the ordinary kinds of commercial paper,
banking house.
the notes of one bank to its reserve correspondent should be considered
—An amendment made by the Senate Finance Committee available paper to deposit with the reserve association. The same was
to the bill authorizing the payment of duties on importsand in- true of re-discounts.
The conference recommended that there be no tax on the circulation
ternal taxes by certified check instead of cash, eliminates the taken over by the Reserve association when it purchases
the Government
use of checks drawn on trust companies for the purpose. bonds securing such circulation. We thought the reserve association should
pay
a
premium
of
23%
for
the
2% bonds, against which most of the naOriginally the bill gave permission for the use of certified tional bank circulation is now issued.
The national banks of the country
checks of national banks only in the payment of customs are carrying as an asset about $11,000,000 premiums on these bonds.
duties, but as passed by the House on the 7th inst. certified
—The Pittsburgh Stock Exchange announces its purpose
checks of trust companies and State banks were included. to discontinue, on April 1, the posting of sales and quotaIn its present form the provision with regard to the checks of tions of unlisted securities, thus practically abolishing its
trust companies is stricken out, and certified checks of na- unlisted department. This follows the action taken by the
tional and State banks only are made available.
New York Stock Exchange last April in discontinuing its
—The joint resolution naming San Francisco as the place unlisted department. According to the Pittsburgh "Gafor holding the Panama-Pacific International Exposition zette," the Exchange of that city has also abolished the
in 1915, which passed in the House on Jan: 31, and in "bank call," and instead of confining the trading and posting
the Senate on the 11th inst., was signed by President Taft of bank and trust company issues to the period from 11 to
on the 15th inst. Senator Perkins, who presented the bill 11:20 a. m., the dealings in these securities will hereafter
for the consideration of the Senate, after its adoption took be continuous, as in the case of other stocks.
occasion to express the grateful acknowledgment of San
—A decision rendered by Attorney-General Hogan of Ohio
Francisco and California to the poople of the South, and on the 6th inst. makes the stockholders of national banks, inespecially those in Louisiana and Virginia, for the generous stead of the institutions themselves, liable for taxes against
and kindly spirit which they had manifested in the matter. national bank stocks. The "Ohio State Journal," in
He pointed out that "from the very inception of the struggle referring to the matter, says that prior to the enactment of
between New Orleans and San Francisco for the honor of the Federal Corporation Tax Law the banks in Ohio under the
holding this great exposition, every act on the part of our national system had paid the taxes, deducting the amount infriends from the South has been characterized by a high re- volved from the dividends. In pursuance of this method
gard for courtesy and fairness. They have now crowned they had submitted returns under the Corporation Tax Law
this most enviable record by interposing no obstacle what- showing this deduction of the taxes of stockholders. The
ever to the passage of this joint resolution in the Senate, authorities at Washington, however, insisted that the taxes
and we of California appreciate this to the utmost degree."
be included in the earnings on which a tax was to be levied.
—Twenty-two representative bankers from a dozen of the Thereupon the banks refused to pay the taxes of stockcountry's important cities held a three days' conference at holders, maintaining them to be a liability against the stockAtlantic City last week to study the merits of the plan for holders and not against the bank. This is the view of
currency reform drafted by Senator Nelson W. Aldrich. Attorney-General Hogan, who in his decision says:
"It follows that under the present Ohio statute the taxes assessed on the
A. Piatt Andrew, Assistant Secretary of the Treasury, with
of national banks are not liabilities of the corporations as such, and
Congressman E. B. Vreeland, who presided, were the prin- shares
are not enforceable against the property of the banks. They are liabilities
cipals at the sessions, the bankers in the conferences repre- of the stockholders. If unpaid when due, the bank can be made liable, if at
by garnishee process."
senting New York, Los Angeles, New Orleans, Philadelphia, all, only
—A
bill
providing for the guaranty of bank deposits is
Nashville,
Paul,
Omaha,St. Louis, Chicago,
Kansas City, St.
Atlanta, Boston and Buffalo. The New York banking inter- reported to have been defeated in the Montana Senate on
ests in attendance consisted of A. Barton Hepburn, Chair- the 11th inst. A similar measure was defeated in the
man of the board of the Chase National Bank; Paul M. War- Senate two years ago.
—A proposed deposit-guaranty measure is also said to
burg, of Kuhn, Loeb & Co.; Henry P. Davison, of J. P. Morgan & Co., and Frank A. Vanderlip, President of the Na- have been defeated in the South Dakota Legislature during
tional City Bank. The conferences, held from Friday to the current session.
12
12
Nov. 1910— 114
FEB. 18 1911.1
THE CHRONICLE
431
—The New Orleans Stock Exchange has made a departure $450,000 in $25 shares. The new institution,
the Chatham
from the course heretofore pursued of admitting to its list & Phenix National Bank, will have capital
a
of $2,500,000,
only the stocks of local banking institutions. The institu- the shares having a par value of $25 each.
tion which forms the subject of the change is the First Na—The Public Bank of this city has taken steps toward intional Bank of Birmingham, Ala. The stock was entered on
creasing its capital from $200,000 to $300,000. The State
the New Orleans Stock Exchange list on the 7th inst., Superintend
ent of Banks has sanctioned the action, and the
immediately following the action of the listing committee
stockholders have given their ratification to the proposition.
in favorably passing upon the request for admission. In It has not yet been decided
at what price the stock will be
commenting on the step, the New Orleans "Picayune"
disposed of, but it is expected that it will be in the neighborstates that it is the beginning of a new policy adopted by the
hood of $400 per share. The new issue will be offered to
Exchange under the administration of Harold Newman,
the present shareholders pro rata. About six months ago
who was recently elected President. He and others in the Ex- the capital
of the institution was increased from $100,000 to
change,it is stated, contend that stocks of good institutions
$200,000.
outside the State should be listed, "thereby making New
—Memorial resolutions in tribute to the late John J.
Orleans a financial and trade centre for the whole surrounding
Lapham, one of its directors, were adopted by the directorcountry, as New York is in the East."
ate of the Importers' & Traders' National Bank of this city
—Gov. H. W. Johnson of California announced on the on the 14th inst. Mr. Lapham,
who died on the 11th inst.,
6th inst. the appointment of William R. Williams as State had been a member of the bank's
board since 1909.
Superintendent of Banks, to succeed Alden Anderson. Mr.
—The annual meeting of the stockholders of the NineAnderson was appointed in 1909 under the Act creating the teenth Ward Bank
of this city, which was to have been held
Banking Department, which fixed the term of office of the on the 6th, has
again been deferred, and is now slated for
Superintendent at four years. The appointment of Mr. the 20th inst.
Williams was effected under a new bill, just passed by the
—William L. Brower, formerly Vice-President of the
Legislature, making the tenure of office of the Superintendent
failed Northern Bank of this city, and William H. Mills,
subject to the pleasure of the Governor instead of for four
Cashier, were indicted on the 3d inst. by the Grand Jury.
years. The bill was signed on the 6th. Mr. Williams was
Vice-President Brower, it is stated, is charged with having
State Treasurer, and the Governor has named as his successor in that office Edward Davis Roberts, President of aided President Frank L. Grant in concealing from the directors a loan of $60,000, and the charge against Cashier Mills
the San Bernardino National Bank of San Bernardino.
is said to concern the concealment of a loan of $20,000. Both
—In his address as Chairman of Group II. of the Penn- pleaded not guilty.
Mills was released under $3,000 bail.
sylvania Bankers' Association, Montgomery Evans, Presi- Vice-President
Brower was indicted last month on a charge
dent of the Norristown (Pa.) Trust Co., took occasion to of perjury in
connection with the alleged filing of a false
protest against pending legislation. He laid the unsettled statement
with the Banking Department; his bond of $3,000
state of trade to too much legislation and too many laws, furnished in
that instance is continued.
and cautioned his hearers to watch future legislative devel—Erwin
J.
Wider, formerly Cashier of the local branch
opments, declaring that some of the samples of proposed
of the Russo-Chinese Bank, who was indicted some months
legislation which have come under his notice may, if they
ago on charges of misappropriating securities of the institubecome laws, have some very serious consequences in so far
tion, was sentenced on the 8th inst. on two of the indictas affecting general business. He stated that while it may
ments against him. On one he was given not less than five
be that this new legislation may not be directly against the nor
more than nine years and six months and on the other
banking interests of the State, it will nevertheless affect
nine years—the second sentence to begin at the termination
their customers, and he contended it is as much the duty
of the first. With the expiration of these two terms he will
of the banks to protect their patrons as themselves, the
be arraigned for sentence on three remaining indictments.
banks' success depending upon their success. The meeting The
charges on which he was sentenced grew out of a defalwas held in Philadelphia on the 13th inst. A paper by
cation involving some $650,000 of the bank's securities.
B. M. Marlin of Du Bois, Pa., on "The Outlook for Postal
—William R. Montgomery, President of the Hamilton
Savings Banks" was read in his absence by E. E. Shields.
In it Mr. Marlin declared that the results of the postal sav- Bank of this city when it suspended in 1907, was convicted
ings bank system had failed, at least so far as the depositary of grand larceny in the first degree on the 7th inst. He had
at Du Bois was concerned, to meet the expectation of the been on trial since Jan. 19 on an indictment returned against
Government. The Central Bank plan was reviewed by him in May 1909, charging the larceny of $4,400 through the
William A. Law, President of the Pennsylvania Bankers' alleged conversion to his own use of the proceeds of a note
Association, and Vice-President of the First National Bank to that amount to the Minford Realty Co., which he is said
to have controlled. A stay of sentence until the 21st inst.
of Philadelphia.
has been granted by Judge Rosalsky. Several other indict—At the annual meeting of Group V of the New York ments, it is understood, are
still pending against the accused.
State Bankers' Association, held in Albany on the 11th inst., Following the closing
of its doors in October 1907, the HamilJames H. Perkins, a Vice-President of the National Com- ton Bank
was reorganized, reopening in January 1908, and in
mercial Bank of Albany, was elected Chairman for the June of that
year consolidated with the Riverside and Northensuing year. The Group comprises in its membership ern banks,
under the latter title. The Northern, in which
bankers in Northern and Eastern New York. A number of Joseph G. Robin
was interested, suspended on Dec. 27 last.
financiers from New York attended the annual dinner,
—Schedules in bankruptcy of Thomas G. Gaylord, indiwhich took place in the evening at the Ten Eyck, and
vidually, and trading under the firm name of Latham, Alexwhich was one of the largest affairs of its kind ever held by adder &
Co. of this city, were filed on the 3d inst. They give
the Group. A discussion on the education of the banker, total
liabilities (all unsecured) as $150,420 and the assets as
by Fred. I. Kent, Vice-President of the Bankers' Trust
$21,955. The assignment occurred on Oct. 14 1910.
•
Co. of New York, was one of the features of the evening.
—Edward Merritt, President of the Long Island Loan &
—J. T. Monahan has been appointed Manager of the New
Trust Co. of Brooklyn Borough, died on the 11th inst., after
York agency of the National Bank of Cuba (No. 1 Wall St.),
succeeding H. C. Niese, who resigned some time ago. Mr. an illness of a few days. Although in his eighty-fourth year,
Monahan has been connected with the Bank of Cuba for the Mr. Merritt had given active attention to business until
within several days of his death, and had been at his desk
past seven years, four years of which he was Manager of the
as late as the 7th inst. Mr. Merritt was born in Manhattan in
Havana City branch of the institution.
April 1827. As a boy his business training was obtained in
—Announcement as to the valuation agreed upon with the dry goods firm
of his father, Wood, Merritt & Co. In
respect to the stock of the Phenix National Bank of this city, 1856 he engaged in the china
business with his brother-in-law,
preliminary to the consolidation of the institution with the Edwin Haviland,
through the formation of the firm of
Chatham National Bank, was made on Thursday. The Haviland, Merritt & Co., continuing
that connection until
Phenix has a capital of $1,000,000; the committee appointed 1874. Subsequently he organized the Amity
Insurance Co.;
to appraise the stock has fixed its value at 178% of par, and which had a brief existence, and later
served as the Brooklpn
the stock of subscribers to the consolidation agreement will be agent for the German-American Insurance
Co. In 1885 he
taken up at this valuation, plus an additional 10% of par. was elected Vice-President
of the Long Island Loan & Trust
In lieu of the above, an offer has been made to pay 100% in Co., and was shortly after elected to the presidency of
the
stock of the consolidated bank and $23 in cash on each $100 institution. For a number of years
he had been President
share of Phenix stock. The Chatham has a capital of of the Brooklyn City RR., and for twenty-six
years Treas-
432
THE CHRONICLE
[VoL. Lxxxxir.
—Philip Stockton, President of the Old Colony Trust Co.
urer of the Brooklyn Hospital. His resignation from both
of Boston, has been elected a director of the Bay State Trust
offices occurred on January 1. He was also a trustee of the
Co. of Boston.
of
y
the
Academ
of
member
Brooklyn Savings Bank, a
l
—William G. Ti,ving, Cashier of the Holyoke Nationa
Design and of the Metropolitan Museum of Art.
the 10th inst. of pneumonia.
on
died
Mass.,
,
Holyoke
of
Bank
—The stockholders of the Terminal Bank of Brooklyn Mr. Twing was sixty-one years of age, and had been Cashier
-Borough, at a meeting on Wednesday, ratified the proceed- of the institution since 1879. On the twenty-fifth anniings of the directors in January, under which it was decided versary of his connection with the bank in 1904, the directors
s
to place the institution in voluntary liquidation. Previou presented him with a silver loving-cup.
of January 28.
reference to the matter appeared in our issue
in progress
—Dr. J. Kinnear Crawford and Joseph S. Crawford,
The winding up of the institution has been
about
but
all
that
vely Vice-President and Secretary and Treasurer
stated
respecti
is
it
and
month,
{luring the past
failed
off.
of
the
American Trust Co. of Philadelphia, were each
paid
been
$3,000 of the deposits have
d
on
the 6th inst. to three years imprisonment and
has con- sentence
—The Mechanics' Bank of Brooklyn Borough
of
$500.
Both had pleaded guilty to charges of
a
fine
the
at
y
of propert
cluded arrangements for the purchase
cy and the faslification of the books
ement,
conspira
embezzl
Street, Brooklyn
southeast corner of 5th Avenue and 9th
institution, which suspended on November 17 1909.
the
of
for
location
nt
permane
a
as
Borough. The site is intended
May last, when
ion, now on the north Their term of imprisonment dates from
the Fifth Avenue branch of the institut
bail.
of
in
$10,000
to
jail
ed
default
committ
were
they
property measures
side of 9th Street. The newly acquired
of PhilaCo.
ton
the
of
Trust
ders
Kensing
stockhol
—The
be
will
building
new
a
32 feet 6 inches by 80 feet. While
capital
the
the
to
ion
increase
ratified
proposit
have
delphia
yet been pererected on the site, the plans therefor have not
0 to $200,000.
$150,00
from
Monand
Court
at
is
bank
the
of
fected. The main office
—A new commercial banking institution has been ortague streets.
in Baltimore by the officers and directors of the
ganized
—Henry W. Tunis, Cashier of the National Newark Maryland Savings Bank. A special charter granted by the
at the
Banking Co., of Newark, N. J., died on Wednesday
ure in 1906 has been secured by the management,
heart disease, Legislat
age of sixty-one years. His death was due to
it is authorized to issue stock in shares of $25
which
under
Except for a
and occurred after only a few day's illness.
of $100. The proposed bank, which is to be
instead
each
l
brief period during which he was in the employ of the Nationa known as the State Bank of Maryland, will accordingly have
the
State Bank of Newark, Mr. Tunis was associated with
an authorized capital of $500,000 in 20,000 shares; the stock
business
entire
his
during
Co.
Banking
National Newark
is to be sold at $31 25 per share, thereby creating a surplus of
career. In 1892 he became an assistant teller in the latter, $125,000. The bank is to be open for business on April 1
from
soon after advancing to the office of receiving teller,
in the Maryland Savings Bank Building. William W. Cloud,
which he rose to the office of Assistant Cashier, and since President of the latter institution, has been elected Presi1894 had been Cashier of the institution.
dent of the State Bank of Maryland, the other officials of
—Edward I. Edwards, Cashier of the First National Bank which are: Vice-President, Summerfield Baldwin, of WoodNew ward & Baldwin and Vice-President of the National Exof Jersey City, was elected Comptroller of the State of
Jersey in a joint session of the Legislature on the 7th inst. change Bank of Baltimore; Secretary, G. H. Pfeil, and
Mr. Edwards was the Democratic candidate, Henry J. West, Assistant Cashier, Walter H. Cook.
.
the present Comptroller, being the Republican nominee
—E. E. Lindemuth, formerly President of the Clearfield
Mr. Edwards will assume his new office on the 20th inst.
(Pa.) Trust Co., has been elected a Vice-President of the
phia.
—Thomas J. Hillery has been elected President of the Western National Bank of Philadel
charter
a
ort, Pa., is reported
which
for
McKeesp
of
J.,
N.
own,
Bank
Morrist
ts'
of
Co.
Merchan
Trust
American
—The
was granted in December. Mr. Hillery will have as asso- to have transferred its business to the People's Bank of that
J. city. The action, it is understood, is a preliminary to the
ciates in the management Charles R. Whitehead, Edson
Victor
ts;
Presiden
ViceHodson,
Clarence
voluntary liquidation of the Merchants' Bank, which was
Neighbour and
Reed, organized in 1907; its business, it is said, was insufficient to
E. Boell, Secretary and Treasurer, and Charlton A.
warrant its continuance.
Counsel.
ders of the
—Lloyd M. Tillman, recently a national bank examiner for
—Under action taken last month the stockhol
have decided Southeast Pennsylvania, has been elected President of the
Conn.,
d,
Hartfor
of
Bank
National
d
Hartfor
streets, acquired by Allentown National Bank of Allentown, Pa.
to build on a site at Main and Asylum
it is understood,
the institution some time ago. The bank,
—Charles H. Hetzel, a director of the Second National
plot, which is
the
on
building
office
large
plans to erect a
of Allegheny, has been elected a Vice-President of the
Bank
banking reservanow occupied by the Catlin Building, with
ion, and has also been Chosen to fill the newlyinstitut
price which
tions for its own uses on the ground floor. The
office of Secretary to the board.
created
$325,000,
the bank is said to have paid for the property is
—The
question of reducing the capital of the Colonial
structure at
and estimates place the cost of the proposed
of Pittsburgh from $4,000,000 to $2,600,000
Co.
Trust
oldest
the
about $425,000. The Hartford National is one of
ed to the stockholders for action on March 16.
be
will
submitt
in 1792.
banks in the country, having been established
it is stated, is a preliminary in the proposed
nt,
The
moveme
Furlong,
Harold W. Stevens is President and Frank P.
segregation of the stock of the Columbia National Bank and
Cashier.
Germania Savings Bank from the Colonial Trust Co.,
with the
• —In commemoratiOn of his forty years of service
the latter having held controlling interest in the two banks
the institution, Frank C. Sumner, Treasurer of the Hartford since 1903. In reducing the capital of the Colonial Trust,
Trust Co. of Hartford, Conn., was presented with a silver there will be a distribution pro rata to its shareholders in
loving-cup by the management on the 1st inst. Mr. Sumner the form of shares of the Columbia National, capital $600,000,
entered the employ of the institution on February 11871.
and the Germania Savings Bank, capital $150,000. The
—Announcement is made that the Willimantic Trust Co. following valuation,it is said,is to be'placed on the stock of the
of Willimantic, Conn., will be ready for business about the three institutions in effecting the change: Columbia National
20th inst. The new organization will be under the manage- $240; Germania Savings $621; and Colonial Trust Co., $200.
ment of F. D. Jordan, President; Hosea Mann, Vice-Presi—The stockholders of the McKees Rocks Trust Co., of
y.
dent; P. S. Hills, Treasurer and H. C. Keach, Secretar
McKees Rocks, Pa., have approved a proposition to reduce
The company will conduct a general banking and trust the capital from $225,000 to $125,000.
business.
—A. R. Horr, heretofore Secretary of the Cleveland Trust
—The capital stock of the Citizens' Bank of Buffalo, N. Y., Co., and A. G. Tame, Treasurer, were elected Vice-Presidents
has been increased from $100,000 to $200,000. The enlarged of the institution last week. Myron H. Wilson has retired
capital became effective on the 15th inst., when a dividend from the office of Vice-President as a result of his election
be applied as payof 100% was paid to the shareholders, to
cy of the Clinton Point Stone Co. of New York.
was ratified by the to the presiden
ion
proposit
The
stock.
ment for the new
has become Secretary of the trust company
Greene
B.
E.
was
stockholders on Jan. 26. Up to the time the capital
King has been made Treasurer. Both were preD.
H.
and
dividend
a
ned
raised to its present amount,the bank maintai
Assistant Treasurers, and their successors in these
What the new viously
rate of 10%, payable in January and July.
A. L. Asmuss and E. L. Mason.
are
posts
its $100,000
rate will be has not yet been determined. With
the recent payment of a final dividend of 3% to
—With
about
of
capital the institution had surplus and profits
the creditors of the failed East End Savings Bank Company
$330,000.
FEB. 18 1911.i
THE CHRONICLE
433
of Columbus, Ohio, a total return of 56% is effected. The increased from $250,000 to $500,000, a stock dividend of
institution suspended on Jan. 23 1905.
100% having also then been declared for the purpose. When
—Lucius Teter, President of the Chicago Savings Bank & the intended change is consummated, the bank's figures of
Trust Co., has been elected President of the Infant Welfare capital and surplus will be as follows:
Society of Chicago, a philanthropic organization which Capital stock (paid in, $250,000; earned. *750,000)
*1,000,000
Surplus (earned)
500.00
makes good the significance of its name.
Undivided profits (earned). about
500.000
—The proposition to increase the capital of the Chicago
In its statement of January 7 1911, the bank reported deSavings Bank & Trust Co. of Chicago from $500,000 to posits of $26,841,518 and aggregate resources of $29,281,578.
$1,000,000 was approved by the stockholders on the 14th E. F. Swinney is the well-known President of the institution
inst. The new stock is offered pro rata at $120 per share to and C. G. Hutcheson is Cashier.
stockholders of record March 16, the subscriptions being
—The American Union Trust Co. of Kansas City, Mo.,
made payable by April 5. The premium of $20 per share is a charter for which was issued by the State Bank Commisto go toward the surplus, making it $200,000.
sioner last month, began business on Jan. 23. In addition
—A meeting of the stockholders of the Real Estate Title to acting in a trust and fiduciary capacity, the institution is
& Trust Co. of Chicago will be held on the 25th inst. for the empowered to conduct a general banking business, deal in
purpose of securing their authority to create $300,000 of investment securities and operate a real estate_ department.
treasury stock. Under the plan contemplated the present The company has an authorized capital of $1,000,000 and
capital will be reduced from a face value of $1,000,000 to a surplus of $250,000. The management consists of H. W.
face value of $700,000, and following this action the capital Richardson, President; Harry L. Coombs and H. H. Hetwill be raised to the original amount of $1,000,000. The tinger, Vice-Presidents; A. W. Ehrlich, Secretary; F. L.
proposed treasury stock is reported to have been subscribed Johnson, Assistant Secretary; George W. Allison, Treasurer;
"by strong financial people not heretofore connected with E. J. Hilkey, Assistant Treasurer; Judge J. W. Tompson,
the company." When the above change is effected, the Trust Officer; T. A. Roberts, Manager of the stock and bond
department; J. I. Adcock, Manager of the real estate departcompany, it is stated, will open a trust department.
—Clyde M. Carr, of J. T. Ryerson & Son, has been elected ment, and Ernest D. Martin, General Counsel.
—At a meeting of the directors of the Mississippi Valley
a director of the Corn Exchange National Bank of Chicago,
Trust Co. on the 8th inst., Jesse H. Keebaugh was elected
to take the place of the late Isaac G. Lombard.
—A permit to organize the Old Colony Trust & Savings an Assistant Trust Officer of the institution. Mr. Keebaugh
Bank of Chicago has been issued by the State Auditor. has been in the company's employ since 1894.
The institution is to have a capital of $200,000.
—A new trust company was opened in St. Louis on Jan. 18,
—Frank H. Elmore has resigned as Assistant Cashier of under the name of the City Trust Co. H. R. Rehme, who
the Continental & Commercial National Bank of Chicago, was Cashier of the City National Bank at the time of its
having accepted the vice-presidency of the First National merger with the Central National in November, was the
Bank of Missoula, Mont. Prior to his departure for the organizer of the new institution, and is its President. Mr.
West, he was presented with a set of silver by the officers of Rehme has been identified with banking interests for the
the Chicago institution.
past twenty-eight years. Robert E. L. Winter is Vice—Samuel E. Neiler, formerly prominent as a banker in President and J. F. Matoushek is Secretary. The latter was
Minneapolis, died on the 13th inst. at his home in that city. formerly paying teller of the City National. The trust comMr. Neiler, although not connected with the institution at pany has an authorized capital of $100,000, half-paid; the
the time of his death, was the founder of the Northwestern shares have a par value of $100, and at present there is no
National Bank. He also founded the Union National Bank, surplus. The institution occupies the quarters in which
which was absorbed by the Flour City National Bank, which the City National had been located, at Eleventh and Franklin
was itself merged with the Security National Bank. Mr. avenues.
—The Manchester Bank of St. Louis has arranged to inNeiler was eighty-two years of age.
its capital from $100,000 to $250,000. It is the intencrease
—A change in control of the United States National Bank
of Superior, Wis., is announced, resulting in a reorganization tion to apportion 1,000 shares of the new stock to the present
under which W. A. Whitney has become President, with stockholders, and to declare a cash dividend of $100 per
J. E. Greenfield as acting Vice-President, and Martin Pattison share to apply as payment for the same. The other 500
as Vice-President; A. J. Wentzel continues in the cashiership. shares will be disposed of to new interests at $150 per share.
—F. J. Denison has been made an Assistant Cashier of With the enlarged capital the bank will have a surplus of
$50,000, instead of about $125,000 as now. The bank,
the First National Bank of Denver.
which pays 12% on its present capital, will change its rate
—D. W. Hogan has resigned as Cashier and a director to 6% on the increased
capital. About March 1 the instituof the American National Bank of Oklahoma City. For the tion will remove to its new
building, adjoining its present
present the position remains unfilled, Harry B. Carson, quarters on Chouteau Avenue.
Assistant Cashier, officiating as Acting Cashier. James
—The American National Bank of Wilmington, N. C.,
Cheneweth has been elected active Vice-President of the
increased its capital in December from $150,000 to $250,000;
bank. Mr. Cheneweth retires as Vice-President of the
$75,000 of the new stock was sold at par to those who were
Farmers' National Bank.
already shareholders in the bank (this allotment being
—R. M. Estes is reported to have acquired a large block equivalent to 50% of their holdings), and the
remaining
of stock in the Planters' & Mechanics' Bank of Oklahoma $25,000 was sold to new interests at $115 per share.
The
City. He has become President of the institution, the former institution began business in
May1908; it has deposits (Jan.
executive, A. M. Gustin, now being Vice-President.
7 1911) of $908,978 and aggregate resources of $1,396,603.
—Following the purchase of control in the Oklahoma City
—The National State & City Bank of Richmond, Va.,
National Bank at Oklahoma City by new interests, H. W. has issued announcements calling attention to
the change
Williams has succeeded D. A. Duncan in the presidency of made by the Richmond Clearing House Association in the
the institution. Colin S. Campbell retires as Cashier, Don business hours of the banks in the city. Beginning the 1st
Lacy becoming Vice-President and Cashier. R. K. Wooten inst. the hours have been fixed from 9 a. in. to 2 p. m., exand C. H. Everest are also Vice-Presidents of the bank. The cept on Saturday, when they will be, as heretofore, from
stockholders have voted to raise the capital from $100,000 to 9 a. m. to 12 m.
$500,000, the change to go into effect on March 1.
—New interests are reported to have secured control of the
—Colin S. Campbell, who retires from the cashiership of Nashville Title Company of Nashville, Tenn.; E. A. Lindthe Oklahoma City National Bank, has purchased an inter- sey has become President of the institution, succeeding A. S.
est in the City State sank of Oklahoma City, and has Mitt, and G. P. Thruston Jr. replaces A. M. Carroll as Secrebecome a director and Cashier of the latter.
tary. It is intimated that with the change in control of the
—A plan to increase the capital of the First National Bank title company, the new owners also secure control of the
of Kansas City, Mo., from $500,000 to $1,000,000 was rati- Nashville Trust Co. Mr. Lindsey, who assumes the presified by the stockholders at their annual meeting in January. dency of the title company, is to be at the head of the TenThe directors have delcared out of the earnings a 100% nessee Trust Co., which is now being organized in Nashville.
dividend, and on the twenty-fifth anniversary of the insti—L. C. Hayne, who retired in January as President of the
tution, March 1, this dividend will be used to purchase the National Bank of Augusta, at Augusta, Ga., after a continunew stock at par. In this the management will repeat a ous service of seventeen years, is now President of the Plantsimilar transaction of four years ago, when the capital was ers' Loan & Savings Bank of Augusta. The latter institution
434
THE CHRONICLE
Lxxxxii.
was organized in 1870, and on Nov. 10 1910 had deposits of the country in erecting a building of its own, in which
quarters especially adapted to its needs are provided. The
$972,494 and total resources of $1,151,999. '
—B. P. Crum has been elected First Vice-President of bank has recently located in its new building, which is a
the New Farley National Bank of Montgomery, Ala., to take fifteen-story office structure. Arrangements for its erection
the place of Sylvain Baum, resigned. James S. Pinckney were undertaken during the latter part of 1909. The bank
replaces Mr. Crum as Second Vice-President of the institu- has reserved for itself the entire ground floor and basement,
tion. M. A. Vincentelli has been temporarily assigned to although only about two-thirds of this reservation is now in
serve in the cashiership until the election of a successor to use. The Old National has a capital of $1,000,000 and
John J. Flowers, who has resigned both as Cashier and deposits of over $8,000,000.
director. Mr. Baum, who retires from the office of Vice—Control of the Broadway Bank & Trust Co. of Los
President, also withdraws from the directorate.
Angeles has been acquired by a syndicate acting in the inter—William Adler, former President of the State Nationa est of the Citizens' National Bank of that city, which will
Bank of New Orleans, La., who was convicted on Jan. 19 operate the trust company as an adjunct. The Broadway
of misapplying funds of the institution, was sentenced on Bank & Trust Co. has a capital of $250,000 and deposits
Jan. 31 to six years in the Federal Prison at Atlanta. It is of over $2,000,000. The Citizens' National has $1,000,000
capital and deposits of nearly $8,000,000. The capital of
understood that the case will be appealed.
—A proposition to consolidate the Waggoner Bank & the latter was increased to the present amount from $300,000
Trust Co. of Fort Worth, Tex., with the First National Bank in 1909, when the American National Bank was taken over.
—An increase of $6,000,000 in the deposits of the Traders'
of that city was ratified by the stockholders of the trust
company on Jan. 31. The Waggoner Bank & Trust Co. Bank of Canada (head office Toronto) during the past
will be continued in its present quarters under the present twelve months is disclosed in the report of Dec. 31 1910,
title, and will be operated as a trust and savings adjunct submitted at the annual meeting on Jan. 24. A total of
of the First National. The trust company was established $36,077,835 is shown in the new statement, the amount
in 1901 and has $150,000 capital. The bank has $500,000 'having risen from $29,813,000 on Dec. 31 1909. The discapital. T. B. Yarbrough, Vice-President of the trust com- bursements resulting from the available balance of $626,795
pany, will be identified with the bank as a Vice-President, ($524,352 representing the net profits for the year and
and W. T. Waggoner, President of the Waggoner Trust, $102,443 the balance at the credit of profit and loss the
becomes a director of the First National. M. B. Loyd con- previous year) included $348,360 paid in dividends at the
rate of 32% per annum, the transfer Of $100,000 to the Rest
tinues as President of the latter.
—The First State Bank and the Traders' State Bank of Account, contributions of $5,000 each to officers' pension
Dallas, Texas, have been consolidated. The united institu- and guaranty funds and the use of $15,000 in writing off
tion will continue under the title of the First State Bank, the furniture account, leaving $153,435 to be carried forward.
capital of which will remain at $100,000; the combined The paid-up capital of the bank amounts to $4,354,500; it
deposits will exceed $1,000,000, those of the First State has a Rest Account of $2,300,000 and total assets of $47,having been over $900,000, while those of the Traders' State 152,737. The question of independent inspection and audits
Bank were in the neighborhood of $200,000. George W. was discussed at some length at the meeting, and the benefit
Riddle continues in the presidency of the First State Bank; derived by the directors in the system of auditing which the
the First Vice-President is H. D. Ardrey, who was President bank has adopted was favorably commented upon. The
of the Traders'; and J. Dabney Day, Cashier of the latter, is auditing is performed through an auditor to the Board,
now Cashier of the consolidated institution. The Traders' who is an entirely independent officer, not in any way under
control of the head office management, but is appointed
State Bank was originally the Traders' Bank & Trust Co., it the
began operations in January 1908, changing its name by and subject to dismissal by the directors, who fix his
remuneration and define his duties. The meeting was further
and increasing its capital from $50,000 to $100,000 a year
marked by the adoption of a resolution in which the bank
ago. The First State Bank was established in 1905.
signified its approval of any legislation of the Dominion
National
—The holdings of J. W. Maxwell in the Seattle
whereby an independent audit under the direction of the
Bank, of Seattle, Wash., amounting to 200 shares, are Government may
be made from time to time. Stuart
Jacob
Furth,
purchased
by
Chairman
been
reported to have
Strathy is General Manager.
of the Board of the institution, and Daniel Kelleher, a
—At the late annual meeting of the Eastern Townships
director. Mr. Maxwell resigned as Vice-President and
Bank
(head office Sherbrooke, Que.), the directors were
annual
the
meeting in January.
director of the institution at
The price at which the purchase of his interest was effected is authorized to apply to the Treasury Board of Canada for its
said to have been in the neighborhood of $325 per share. approval of an increase of $2,000,000 in the capital stock,
raising it from $3,000,000 to $5,000,000. The new shares
The bank has a capital of $1,000,000.
are to be issued and allotted in such manner and proportion,
—J. A. Hall, formerly Vice-President and Cashier of the
and
at such time, as the directors may decide. In its annual
First National Bank of Seattle, Wash., has retired from
report for Nov. 15 1909 the bank's total assets stood at
active connection with the institution, although, it is stated,
$25,397,011. It has deposits of $19,896,794 and a reserve
he still retains his stock interest in the bank. Mr. Hall
fund of $2,250,000.
retired as Cashier at the annual meeting, and has since relin—The Bank of New Brunswick (head office, St. John,
quished the vice-presidency. D. H. Moss, also a ViceN. B.) has decided to increase its paid-in capital from
office
of
additional
Cashier.
President, serves in the
$774,300 to the authorized amount of $1,000,000. • The new
—Robert Laird McCormick, President of the Pacific Na- stock will be sold at $260 per share. The bank has a Rest
tional Bank of Tacoma, Wash., and Secretary of the Weyer- Fund of $1,405,025. Its total assets on Dec. 31 1910 were
haeuser Timber Co., died on the 5th inst. at Sacramento, $10,424,038.
—The Yokohama Specie Bank, Ltd. (head office YokoCal., where he had journeyed a few weeks previously in the
hope of regaining his health. Mr. McCormick was a native hama),is considering the question of increasing its capital
from 24,000,000 yen to 48,000,000
$12,000,000
of Pennsylvania, having been born at Lockhaven in October to $24,000,000. The proposition yen—or from
may be presented for action
1847. He devoted his early business life to the railroad by the shareholders at their coming meeting, March 10.
field in the East, but in 1868 decided to turn his attention
,
to the West, becoming affiliated with the lumber interests.
DEBT STATEMENT JAN. 31 1911.
Employment with his uncle's concern, the Laird-Norton Co.,
The following statements of the public debt and Treasury
at Winona, Minn., afforded him the first insight into the
cash holdings of the United States are made up from official
lumber business. Although he continued to focus his in- figures issued Jan. 311911.
statement of Dec. 311910,
terests thereafter chiefly in that industry, during the past see issue of Jan. 211911, pageFor
165; that of Jan. 311910, see
twenty-five years he had been identified with several bank- Feb. 5 1910, page 350.
ing institutions throughout Washington, the most important
INTEREST-BEARING
Arnoun,
DEBT JAN. 31 1911.
uentouOpen
of these being the Pacific National of Tacoma, of which he
Interest Issued.
ulst.anding—
Tolat.
Regtster-eAd").
Payable.
$
Title of Loan—
was President. Mr. McCormick was also President of the
$
$
$
2s, Consols of 1930
4:4.-J. 646,250,150 641,812,250 4,437,900 646,250,150
Q.-F. 198,792,660 43,099,140 20,846,320 63,945,460
First National Life Insurance Co. of Tacoma. During the 3s, Loan of 1908-18
Q.-F. 162,315,400 98,713,400 19,770,500 118,489,900
Loan of 1925
seventies he served as Mayor of Waseca, Minn., and was also 3s,
4s, Pan. Canal Loan 1906...Q.-N. 54,631,980 54,605,220
26,760 54,631,980
formerly a Senator of that State, besides having been a dele- 2s, Pan. Canal Loan 1908 Q.-F. 30,000,000 29,626,720 373,280 30,000,000
Aggregate Int.-bearing debt...1,091,990,190 867,856,730 45,460,760 913,317,400
gate to several Presidential nominations.
Note.—DenomlnatIons of bonds are: Of $20, loan of 1908, coupon and registered;
—The Old National Bank of Spokane, Wash., has followed of $50, all Issues except 3s of 1908: of $100, all Issues; of $500, all Issues; of $1,000,
all Imam of $5,000, all registered 2s, 3s and 4s; of $10,000, all registered bonds; of
the exdmple of many other prominent institutions throughout $50,000. registered 2s of 1930.
FEB. 18 1911.j
THE CHRONICLE
435
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
dam made a very unfavorable impression in France-indeed,
for a while led to a fear that the alliance with Russia was
$7,000 00 weakened. The proposal to fortify Flushing added to
23,650 00
13,450 00 apprehensions, ancl all were aggravated by the ravages of the
1,023,050 00
14,920 00 plague in Manchuria.
Nevertheless, it is considered by the best judges that the
906,025 26
Bank rate must come down very soon, possibly next ThursAggregate debt on which interest has ceased since
day, but almost certainly within a fortnight or so. In the
maturit y
$1,995,045 26 $1,988,095 26
first place, money in London is abundant and cheap for the
DEBT BEARING NO INTEREST.
time of the year. The Bill rate is very little over 3%, and
Dec. 31.
Jan. 31,
United States notes_
$346,681,016 00 $346,681,016 00 short loans are made considerably lower. In the second
demand
Old
notes
53,282 50
53,282 50
National Bank notes-Redemption account
34,326,668 00
33,496,928 00 place, the Bank is getting nearly all the gold offering in the
Fractional currency, less $8,375,934 estimated an
lost or destroyed
6,858,435 93
6,858,435 93 open market that is not wanted by the trade and by India.
Aggregate debt bearing no interest
$387,919,402 43 8387.089.662 43 In the third place, it is taken for granted in Germany that
the Imperial Bank will put down its rate again in a week or
RECAPITULATION.
Increase(+)or two.
And in the fourth place, the foreign exchanges conClasstfication
Jan. 311911.
Dec. 311910.
Decrease (-)•
Interest-bearing debt
$913,317,490 00 $913,317,490 00
-$6.950 00 tinue so high that it seems
safe to conclude that the gold
Debt interest ceased
1,988,095 26
1,995,045 26
-829,740 00
holdings of the Bank of England will be largely increased in
Debt bearing no interest.._. 387,089,662 43
387,919,402 43
the
immediate
future.
Total gross debt
$1,302,395,247 69 $1,303,231,937 69
-$836,690 00
On the Stock Exchange feeling is very optimistic, and inCash balance in Treasury*_. 235,466,829 00
239,393,472 14
-3,926,643 14
vestment is upon an exceedingly large scale. It has been
Total net debt
81,066,928.418 6) 81.063.838,465 55 +83,089,953 14 very
large ever since the summer, and it continues rather to
* Includes $150,000,000 reservo fund,
The foregoing figures show a gross debt on Jan. 31 of grow than to decrease. On the other hand, speculative
business is less active than everybody anticipated. Prob$1,302,395,247 69 and a net debt (gross debt less net cash ably this is due to the uneasy feeling in
France, the augin the Treasury) of $1,066,928,418 69.
menting production of copper and the plague in Manchuria,
all of which are weighing heavily upon Paris. There had
TREASURY CASH AND DEMAND LIABILITIES.- been considerable losses by speculators there, and
as the
The cash holdings of the Government as the items stood holdings of Russian securities of all kinds in France are
enormous, the fear that the plague may enter Russia is
Jan. 31 are set out in the following:
weighing upon markets. On the other hand, the best judges
ASSETS.
in Paris are of opinion that a change is imminent. In the
Trust Fund HoldingsTrust Fund LiabilitiesGold coin
937,757,669 00 Gold certificates
937,757,669 00 first place, there is an immense accumulation of unemployed
Silver dollars
480,003.000 00 Silver certificates
480,003,000 00
Silver dollars of 1890...
3,426,000 00 Treasury notes 01 1890.
3,426,000 00 money, and French bankers are taking American securities,
especially good American bonds, on a very large scale, and
Total trust fund
1,421,186,669 00
Total trust liabilities_1,421,186,669 00
General Fund Holdingsthe influence of the bankers in France is so great that investGen.Fund LiabilitiesGold coin and bullion__ _
33,890,584 49 National bank 5% fund. 23,661,157 96 ment in American securities is rapidly growing.
Gold certificates
36,371,317 00 Outstanding checks and
In the second place, pourparlers are going on between the
Silver certificates
10,692,058 00
drafts
13,584,385 74
Silver dollars
10,524,211 00 Disbursing officers' balBritish Government and the French Government on the one
Silver bullion
3,102,480 30
ances
80,479,558 53 side, and the Turkish
United States notes_
Government on the other, with regard
8,532,313 00 Post Office Department
Treasury notes of 1890._
10,877 00
account
9,265,804 41 to the opening up of Turkey by means of British and French
National bank notes
37,863,432 71 Miscellaneous items....
1,053,646 63 capital, and particularly
Fractional silver coin
conversations are going on respect19,091,685 11
Fractional currency_ ___
Total gen. liabilities_ 1128,644,553 27 ing the Bagdad Railway.
96 55
There are strong hopes that as
Minor coin
880,763 18
Russia has changed her policy respecting the Bagdad
Bonds and interest paid_
18,493 06
Railway, France and England will also change their policy,
Tot. In Sub-Treasuries 160,978,312 00
that concessions will be given to French and English capitalIn Nat. Bank Depositaries
ists, and that in that way the uneasiness respecting interCredit Treasurer of U.S. 35,748,323 16
Credit U. S. dis. officers 10,946,910 78
national politics will be removed and that the boom which
has been so generally expected will begin.
Total in banks
46,695,233 94
In Treas. of Philippine IslandsIn Germany trade continues good. The great shipping
Credit Treasurer of U. S.
3.123,81705
Cash Balance and ReserveCredit U. S. dts. officers
3,314.019 28 Total cash and reserve.. 235,466,829 00 companies engaged in the carrying of emigrants from Europe
Made up ofreport that their business is augmenting rapidly, and that
Total in Philippines._
6,437,836 331 Available 85,466,829 00
emigration to the United States is steadily increasing. The
and
Reserve Fund Holdingselectrical industry in Germany is also good, and the feeling is
Reserve FundGold coin and bullion__ _ 150,000,000 00 Gold&bull_150,000,000 00
exceedingly hopeful, so much so, indeed, that the President
Grand total
1,785,298,051 271 Grand total
1,785,298,051 27 of the Reichsbank points to the disposition to speculate as
one of the reasons why he has been unwilling to put down
TREASURY CURRENCY HOLDINGS.-The following the Bank rate below 4%.
At home here everything points to better business in the
compilation, based on official Government statements, shows
the currency holdings of the Treasury on the first of Novem- immediate future. The Board of Trade returns for January
show that the foreign trade is growing even beyond last
ber and December 1910 and January and February 1911.
year's extraordinary expansion. The imports for the month
show an increase of £6,785,087, or 12.1%, over the corresTREASURY NET HOLDINGS.
Nov. 1'10. Dec. l'10. Jan. 1'11. Feb. I'll. ponding month of last year; the exports of British and Irish
Holdings in Sub-Treasuriesproduce and manufactures show an increase of £2,927,716,
$
Net gold coin and bullion
261,024,0132 256,832,205 254,033,571 220,201,902 or 8.4%; and the re-exports of foreign and colonial produce
Net silver coin and bullion
9,910,858 12,070,802 17,779,501 24,318,749
Net United States Treasury notes
7,442
9,626
10,507
10,877 an increase of £494,308, or 6%. And the reports from all
Net legal-tender notes
5,496,564
0,169,091
9,268,762
8,532,313 the great manufacturing centres are in harmony with the
Net national bank notes
18,805,902 20,430,734 23,614,689 37,863,433
Net fractional silver
16,995,517 14,974,568 15,401,350 19.091,685 Board of Trade returns. The general feeling amongst the
Minor coin, dec
667,837
603,433
508,679
899,353 best informed is that every branch of trade is so good, and
Total cash in Sub-Treasuries._312,908,182 311,099,459 320,587,059d310,978,312 money in a month or so will be so plentiful and cheap that
Less gold reserve fund
150,000,000 150,000,000 150,000,000 150,000,000 there cannot fail to be a great broadening of the stock
Cash balance In Sub-Treasuries. _162,908,182 161,099,459 170,587,059 160,978,312 markets and a considerable rise in prices. Indeed, not a
Cash in national banks
47,898,287 47,868,364 47,135,285 46,695,234 few of the very best informed freely predict a boom.
Cash in Philippine Islands
6,421,814
6,197,665
6,427.103
6.437,836
The India Council offered for tender on Wednesday 100
Net Cash in banks, Sub-Treas_217,228,283 215,165,488 224,149.447 214,111,382 lacs of its bills and the applications exceeded 6543
% lacs at
Deduct current liabfilties_a
131,539,351 128,481,602 134,755,975 128,644,558 prices ranging from is. 4 1-32d. to is. 4 3-32d. per rupee.
Available cash balance
85,688.932 86,683,886 89,393,472 85,466,829 Applicants for bills at is. 4 1-16d. and for telegraphic transa Chiefly "disbursing officers' balances." d Includes $3,102,480 30 silver bullion
fers at is. 4 3-32d. per rupee were allotted about 74% of the
and $899.353 49 minor coin, &c., not included in statement "Stock of Money."
amounts applied for.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
Dec. 31.
Funded loan of 1891, continued at 2%. called May 18
1900, interest ceased Aug. 18 1900
$7,000 00
Funded loan of 1891, matured Sept. 2 1891
23,650 00
Loan of 1904, matured Feb. 2 1904
13,450 00
Funded loan of 1907. matured July 2 1907
1,029,950 00
Refunding certificates, matured July 1 1907
14,970 00
Old debt matured at various dates prior to Jan. 1
1861 and other items of debt matured at various
dates subseq uent to Jan. 1 1861
906,025 26
Jan. 31.
ptouttarifieranintrciaignraislinmis
1911.
Feb. 8.
[From our own correspondent.]
London, Saturday, Feb. 111911.
The Bank of England was generally expected to put down
its rate of discount on Thursday, but it did not do so. The
directors of the Bank, doubtless, have grounds for thinking
that the Indian Govermnent will "earmark" a considerable
amount of gold, and it may be, likewise, that the uneasy
feeling in France had some influence upon the directors.
The meeting of the German Emperor and the Czar at Pots-
1910.
Feb. 9.
£
27,798,685
7,891,151
44,764,088
14,013,424
29,454,525
27,227,055
30,575,740
1909.
Feb. 10.
£
28,878,610
10,512,691
41,320,889
14,801,155
29,255,647
25,787,251
36,215.861
1908.
Feb. 12.
£
27,865.920
13.654,443
39,810,384
14,327,216
28,675,259
28,618,570
38,034,490
1907.
Feb. 13.
£
27,639,385
11,860.473
40,170,561
15,453.756
28,606,249
26,193,168
35,382,551
27,297,140
Circulation
Public deposits...... 11,796.940
Other deposits
41,751,273
Governm't securities 14,905,493
Other securities__ _ _ 28,219,391
Reserve,notes&coin 28,490,857
Coln&bull ,both dep 37,337,997
Proportion assets to
liabilities_ ___p. c.
53
51%
53g
50g
493
Think rate _____ p. c.
4
3.
3
4
5
p. c__
Consols,
87g
82 1-16
84 15-16
87
80%
Silver
23%d. 23 11-16d. 23 15-16d.
26 7-16d. 31 13-16d.
Clear.-house returns 262,918,000 241,473,000 233,996,000 216,115,000 224,554.000
rebruary 10.
436
THE CHRONICLE
Jan. 20.
4)1
3 13-16
3%
3%
3)1
404g
404X
Wheat
Flour, equal to
Maize
qrs_
qrs_
qrs_
This week.
2,655,000
140,000
700,000
Last week.
2,410,000
105,000
680,000
1910.
2,950,000
145,000
475,000
1909.
2,775,000
195,000
385,000
The British imports since Jan. 1 have been as follows:
1911.
£
62,694,771
ImportsJanuary
1910.
£
55,909,684
Difference.
£
+6,785,087
Per
Cent.
+12.1
The exports since Jan. 1 have been as follows:
1911.
1910.
£
E
37,730,831 34,803,115
Difference.
£
+2.927,716
Per
Cent.
+8.4
3
ExportsJanuary
3
3%
The re-exports of foreign and colonial produce since Jan. 1
show the following contrast:
1911.
£
8,641,472
Re-exportsJanuary
1910,
£
8,147,164
Difference.
E
+494,308
Per
Cent.
+6.0
English Financial Markets-Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London
Week ending Feb. 17.
Sat.
Mon.
Fri.
Tues.
Wed, Thurs.
Silver, per oz
d 23 15-16 23 15-16 23 15-16 23 13-16 23 15-16 24 1-16
Consols, yew, 2% per cents_ 80 3-16 80
80 3-16 80 3-16 80 1-16 80
For account
80 5-16 80X
80X
80X
80 1-16
80%
French Rentes (in Paris)_fr. 97.50
97.50 97.52% 97.55
97.55 97.47%
Amalgamated Copper Co__ - _ 67%
67)1
67)1
67X
66%
65g
bAnaconda Mining Co
8X
8
8%
8%
sg
8H
Atchison Topeka & Santa Fe.110
110
110X
110
109)1
108
Preferred
105%
106%
105%
105%
105%
105%
Baltimore & Ohio
109
109
109%
108)1
108)1
107)1
Preferred
91%
91%
91 A
91%
91%
Canadian Pacific
216%
218%
219X
219%
217%
216%
Chesapeake & Ohio
88%
88%
88%
88X
88X
86%
Chicago Great Western
24
24%
24%
24
24g
233i
Chcago Milw. & St. Paul_ _ _132X
132
132X
131%
131
129
Denver & Rio Grande
34%
34%
34%
3451
35
3514
Preferred
74
74
74%
75
75
74%
Erie
33
32%
32%
33
33%
31%
First Preferred
52X
52%
52%
52%
52%
51X
Second Preferred
41
40%
41%
40%
41%
40
Illinois Central
140)1
140)1
140
140
140
139
Louisville & Nashville'
152
151%
151%
151%
149%
151%
Missouri Kansas (St Texas__
37
Texas
37
37X
37
36%
35%
Preferred
69
68%
69
69
69
Nat. RR.of Mex., 1st Pref._ 73
72%
73
73
73
Second Preferred
38
38
38
39X
39%
N. Y. Central & Hudson Riv.117
117
117
116
116%
114g
N. Y. Ontario & Western__
Western
44X
44%
44%
44%
44%
44
Norfolk & Western
110
110
110
110
109%
108H
Preferred
93
92%
93
92%
92%
92H
Northern Pacific
130%
130%
130%
130
131%
130
aPennsylvania
66
65%
65%
65%
65%
65%
aReading Company
82%
82%
82%
81%
82%
80%
aFirst Preferred
48X
46X
46
46g
46X
aSecond Preferred
50)1
50%
50X
50X
50X
Rock Island
33%
33%
33%
33%
33%
32%
Southern Pacific
123X
123X
123%
123%
122%
121
Southern Railway
29%
29%
29%
29%
29
28X
Preferred _
68
67%
67
68
67%
66
Union Pacific
184%
184%
185
184%
183%
182H
Preferred _
96%
96%
96%
965-4
963.4
9634
U. S. Steel Corporation
84
83)1
83%
82%
8134
8234
Preferred
122%
122%
122%
122%
122%
122%
Wabash
17X
17%
17H
17H
17
1734
Preferred _
38X
38)1
38)1
39)1
3734
38%
Extended 4s
67
67
67%
67H
67%
a Price per share. b £ Sterling.
gonxinercial and BUstellantratsnews
FOREIGN TRADE OF NEW YORK-MONTHLY
STATEMENT.-In addition to the other tables given in
this department, made up from weekly returns, we give the
following figures for the full months, also issued by our
New York Custom House.
Merchandise Movement to New York.
Month.
future of the market will greatly depend on the action of Shanghai,
when that market re-opens to-morrow. The Bombay,quotation is Its. 62% per 100
tolahs. Arrivals-New York,£186,000. Shipments-Port Said,£3,000; Bombay,
£472,000; Calcutta,£22,000; Madras,£7,500; Shanghai,£60,000; total,£564.500.
The quotations for bullion are reported as follows:
GOLD.
Feb. 9.
London Standard.
s. d.
Bar gold, fine, oz
77 9
U. S. gold coin, oz_ _ _ - 76 4%
German gold coin, oz__ 76 4
French gold coin, oz_ 76 5%
Japanese yen
78 4
Feb. 9.
Feb. 2.
SILVER.
London Standard.
s. d.
d.
77 9
Bar silver, fine,oz__23 11-16
76 4% " 2 mos. delivery__ _23 13-16
76 4
Cake silver, oz
25 9-16
76 5% Mexican dollars
nom.
76 4 I
Feb. 2.
d.
24 5-16
24%
26X
nom.
July
August_ _
September
October _
November
December.
January
January__
Imports.
Customs Receipts
at New York.
Exports.
1910-11.
1909-10.
1910-11.
1909-10.
1910-11.
1909-10.
$
69,966.872
81,340,437
67,590,619
70,317,977
75,083,744
76,681,915
74,513,315
68,687,013
68,295,105
73,362.959
76,749,472
85,658,842
84,103,875
78.656,123
56,019,567
65,279,115
66,183,119
61,166,950
60,821,026
63,598,538
61.365,707
50,583,478
49,212,360
50,779,347
55,899,327
55,953,000
58,606,172
52,644,329
16,911,067
20,276,113
17.699,966
16,381,800
18,533,079
16,487.755
16,898,957
$
20,728,717
19,732.558
17,906,343
19,793,908
17,575,847
16,223,356
17,545,140
Total_ _ _ 515,484,879535,513,389 518,222,973 373,678,013 123,188,737 129,505,869
The imports and exports of gold and silver for the seven
The following shows the imports of cereal produce into months have been as follows:
the United Kingdom during the season to date, compared
Gold Movement at New York.
with previous seasons:
Silver-Nett York.
Twenty-two weeksImports of wheat
Barley
Oats
Peas
Beans
Indian corn
Flour
IMPORTS.
1910-11.
1909-10.
1908-09.
1907-08.
cwt_ 42,463,300 43,726,740 36,418,800 37,763,600
10,423,100 12,897,800 12,391,500 14.749,500
5,948,000
8,095,500
5,361,100
4,374,000
930,371
1,022,024
687,520
932,420
424,937
1,558.310
739,660
617,440
20,103,100 17,115,500 16,365,600 20,577,500
4,712,900
6,007,600
5,785,200
6,787,900
SupplieA available for consumption (exclusive of stock on
September 1):
Wheat imported
Imports of flour
Sales of home-grown
1910-11.
1909-10.
1908-09.
1907-08.
cwt_ 42,463,300 43,726,740 36,418,800 -37,763,600
4,712,900 . 6,007,600
5,785,200 6,787,900
12,480,675 13,454,306 15,993,588 16,715,824
Imports.
Month.
1910-11.
July
August
September- _-October ......
November
December ---January _____
Total
1909-10.
3
$
4,906,446
470.018
9,335,389
600,563
431,581
481,945
748
689,290
685,147
,321 1,093.967
1,881,121
515,727
1,325,148
421,946
Exports.
1910-11.
$
177,490
276,000
134,500
132,185
256,900
387,610
871,445
1909-10.
Imports.
Exports.
1910-11.
1910-11.
$
$
13,405,800
2,847,470 1,0
30
76
7:
98
1 13
7
335,620
693,062
1,974;125
482,644
8,877,100
696,077
8,017,750
747,747
875,816
3,113.576
$
5
72
1:4
43
48
23
3
4:9
424,670
2,684,265
3,779,193
4,393,262
4,858,676
18,315,296 4,289,313 2,236,130 38,571,441 4,879,356 24,343,949,
Breadstuffs Figures brought from page 474.-The statements below are prepared by us from figures collected b3;
the New York Produce Exchange. The receipts at Western
The following shows the quantities of wheat, flour and lake and river ports for the week ending last Saturday and
maize afloat'. to the United Kingdom:
since August 2 for each of the last three years has been:
Total
Average price wheat, week
Average price, season
59,656,875 63,188,646 58,197,588 61,267,324
33s. 6d.
30s. 9d.
33s. Od.
358. Od.
33s. 16.
31s. 10d.
30s. 60.
34s. 3d.
FEB. 18 1911.1
Receipts at-
Flour.
THE CHRONICLE
Wheat.
Corn.
Oats.
Barley.
Rye.
bbls.1961bs bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.481bs. bu. 56 lbs
Chicago _-....
108,761
194,400 2,721,750 1,461,600
423,000
27,500
Milwaukee__
53,000
153,680
257,640
234,600
152,100
18,360
Duluth_ _, __
15,970
116,871
340,092
47,046
7,235
Minneapolis_
982,930
325,140
249,140
209,950
19,750
Toledo
21,000
115,800
45,000
Detroit
4,125
58,378
149.367
40,815
Cleveland
1,078
4,940
68,760
138,370
St. Louis__ _
53,950
367,400
624,285
464,100
86,800
2,200
Peoria
60,494
6,000
508,430
88,000
60,000
15,400
Kansas City.
346,800
463,200
103,700
Total wk.'11
Same wk.'10
Same wk.'09
297,378
324,130
330,023
2,475,020
3,330,948
2,500,358
5,341,243
5,450,692
2,985,444
2,872,371
939,085
3.191,611 1,515,833
2,285,435 1,334,029
83,210
116,694
71,154
Since Aug. 1
1910-11... 9,352,045 159,182,431 116,591,697 121,819,238 47,432,938 3,780,908
1909-10... 12,419,771 182,808,350 100.734,498 23,710,231 52,539,687 4,805,217
long./in
1 1 tux n73 167.841.282 81.858 268 102.5R. 908 fiR 774 70fi 4 714 477
Total receipts of flour and grain at the seaboard ports for
the week ended Feb. 11 1911 follow:
Receipts atNew York
Boston
Portland, Me
Philadelphia
Baltimore
Richmond
New Orleans *___ _
Norfolk
Galveston
Mobile
Montreal
St. John
Halifax
Flour,
bbls.
159,764
34,127
4,332
54,380
38,453
4,370
25,499
857
4,444
18,000
Wheat,
bush.
102.000
59,836
109,000
107,035
18,720
55,754
3,600
Corn,
bush.
727,875
270,988
89,000
547,745
040,372
59,408
552,000
12,000
12.000
5,982
230,000
16,000
9,500
Oats, Barley,
bush.
bush.
521,875 189,299
03,728
3,768
20,000
125,050
1,000
44,123
3,532
107,558
99.200
14,179
10,000
Rye,
bush.
1,150
6,831
4,423
Total week 1911._ 344,220
780,527 2,914,948
7,981
985,994 222,022
Since Jan. 1 1911...2,109,711 4,699,456 18,654,959 6,440,758 809,268 88,028
Week 1910
287,287
850,849 1,130,235
716,970 106,083 20,021
Since Jan. 1 1910.-2,086,341 8,344,133 8,098,619 4,300,528 418,457 141,149
* Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.
The exports from the several seaboard ports for the week
ending Feb. 11 1911 are shown in the annexed statement:
Wheat,
bush,
199,168
109,000
111,948
120,000
Corn,
bush.
603,551
89.000
240,336
214,000
442,581
571,000
26,000
Flour,
bbls.
45,733
4,332
12,522
14,000
12,220
7,000
22,846
857
18.000
Oats,
bush.
1,615
Rye,
bush,
Barley, Peas,
bush.
bush.
407
20,000
437
STOCK OF MONEY IN THE COUNTRY.-The following table shows the general stock of money in the country
as well as the holdings by the Treasury, and the amount in
circulation, on the dates given.
-Stock of Money Feb. 1 1911- -Money in CirculationIn United
Held in
Feb. 1
Feb. 1
States.
Treasury. d
1911.
1910.
$
8
$
Gold coin and bullion._ _*1,718,936,137 183,890,584 597,287,884
003,514,652
Gold certificates_a
36,371,317
816,191,379
Standard silver dollars ...._ _ 504,851,508 10,524,211 901,380,352
74,324,297
73,458,986
Silver certificates_a
10,692,058 469,310,942 474,040.023
Subsidiary silver
b158,186,894 19,091,685 139,095,209 143,032,622
Treasury notes of 1890..
3,420,000
10,877
3,415,123
3,884,249
United States notes
346,681,010 8,532,3 13 338,148,703 338,278,920
National bank notes
726,445,388 37,863,433 688,581,955 672,585,889
Total
3,518,526,943 306,9713,478 3,211,550,405 3,125,580,720
Population of the United States Feb. 1 1911 estimated
at 93,288,000; circulation
per capita, $34 43. (See note.)
*A revised estimate by the Director of the Mint of the stock of
gold coin was
adopted in the statement for Aug. 1 1907. There was a reduction
$135,000,000.
b A revised estimated by the Director of the Mint of the stock of of
subsidiary silver
coin was adopted in the statement of Sept. 1 1910. There was
a reduction of
$9,700,000.
a For redemption of outstanding certificates an exact equivalent in amount
of
the appropriate kinds of money Is held in the Treasury, and is not included
in the
account of money held as assets of the Government.
d This statement of money held in the Treasury as assets of the Government
does
not include deposits of public money in national bank depositaries
the Treasurer of the United States, amounting to $35,748,323 16. to the credit of
Note.-The figures representing the population of the United States during
past ten years have been estimated upon the basis of the Census of 1900. The the
figures for this statement are estimated upon the basis of the Census of 1910,
representing the population of continental United States.
Canadian Bank Clearings.-The clearings for the week ending Feb. 11 at Canadian cities, in comparison with the same
week of 1910, show an increase in the aggregate of 12.7%.
Week ending February 11.
Clearings at
1911.
Inc. or
Dec.
1910.
1909.
1908.
Canada$
$
Montreal
40,580,044
36,641,395 +10.8
32,408,925
24,024.759
Toronto
32,883,187
28,827,974 +14.1
23,154,920
18.253,437
Winnipeg
14,955,674
13.412,119 +11.5
10,305,360
8.592,191
Vancouver
8,776,997
7,421,237 +18.3
4,006,565
3,250,206
1,800
3,408.732
3,186,988 +7.0
3,000
2,938,176
2,144,015
100 Ottawa
Quebec
2,391.553
1,987,251 +20.3
2,284,393
1,773,159
Halifax
1,570,592
1.714,349 -8.4
1,685,307
1,611,636
230,000
Hamilton
1,636,066
10,000
1,455,999 +12.4
1,313,862
1,335,012
16.000
St. John
1,366,949
1,539,388 -11.2
1,167,177
1,129,010
London
1,171,330
1,274.459 -8.1
.1,051,399
941,303
Total week
787,916 2,186,468 137,510
Calgary
14,615
2,722,009
2,207,893
+23.3
1,418,605
20,000
892.573
567
Week 1910
951,419 1,322,855 86,759
Victoria
12,984 6,488 9.882
2,197,504
1,540,084 +42.7
1,033,060
510 Edmonton
1,013,581
1.608.452
1,127,183 +42.7
819,447
666,806
The destination of these exports for the week and since Regina
810,669
659,780 +22.9
Brandon
450,794 Not included in total
July 1 1910 is as below:
Lethbridge
385.673 Not included in total
Saskatoon
-Flour
776,031 Not included In total
Wheat
-Corn
431,391 Not included in total
Since
Since
Since Brantford
Week
July 1
Week
July 1
Week
July 1
Exportsforweek and Feb.11.
Total
Canada
_
110,079,758
102,996,079 +12.7
1910. Feb. 11.
1910. Feb. 11.
83,587.196
1910.
135,627,688
Since July 1 tobbls.
bbls.
bush.
bush.
bush.
bush.
United Kingdom_ _ _ 54,831 2,690,872 662,171 21,647,573 844.249
10,508,174
Continent
56,979 1,231,309 120,943 12,790,496 1,282,185 11,842,589
Sou. & Cent. Amer_ 10,471 651,316
DIVIDENDS.
3,002
218,202
40,000 1,834,520
West Indies
14,977 816,918
1,800
6,133
18,522
918,493
Brit. Nor. Am. Cols_
The following shows all the dividends announced for the
252
66,009
13,574
Other Countries_
134,286
7,000
1,512
24,557 future by large or important corporatio
ns:
Total
137,310 5,590,710 787,910 34,669,404 2,186,468 25,141,916
Dividends announced this week are printed in italics.
Total 1909-10
80,757 6,550,026 951,419 62,871,009 1,322,855 17,399,808
ExportsfromNew York
Portland, Me..__.
Boston
Philadelphia
Baltimore
New Orleans _ _ _
Galveston
Norfolk
St. John, N. B
Halifax
The world's shipments of wheat and corn for the week
ending Feb. 11 1911 and since July 1 1910 and 1909 are
shown in the following:
Wheat.
1910-11.
Week
Feb. 11.
Since
July 1.
Corn.
1909-10. I
Since
July 1.
1910-11.
Week
Feb. 11.
1909-10.
Since
July 1.
Since
July 1.
Bushels. Bushels.
Bushels. I Bushels. Bushels.
North Amer. 2,512,000 78,835,000 101,227,000 2,004,000 23,049,000 Bushels.
17,278,000
Russia
2,970,000 148,008,000 143,410,000 527,000 8,715,000 11.644,000
Danube 1,024,000 70,440,000 14,314,000: 927,000 54,389,000 15,142,000
Argentina
2,208,000 35,280,000 21,910,000; 17,000 54,709,000 59,164,000
Australia _._ 2,000,000 28,240,000 16,012,0001
India
4 •
888,000 30,582,000 1
,0th. countr's
96,000 5,980,000 532,072,000 I
IP
Total
12304000 397.365,000 329,551,000 3,535,000 140,862,000 103,228,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheat.
United
Kingdom.
Continent.
Corn.
Total.
Uuited
Kingdom. Continent.
Bushels. Bushels. Bushels. Bushels. Bushels.
Feb. 11 1911.. 17,500,000 23,608,000 41,168,000 3,859,000 9,018,000
Feb. 4 1911_ _ 16,464,000 21,490,000 37,960,000 4,573,000 9,054,000
Feb. 12 1910_ _ 26,800,000 11,040,000 37,840,000 3,000,000 4,420,000
Feb. 13 1909... 28.000,000 18,880,000 413,880,000 3,055,000 2,380,000
Feb. 15 1908- , ,000 10,160,000 50.600,0002.840,0004,120.000
_
Total.
Bushels.
12,877,000
14,527,000
7,480,000
0,035.000
6,960 000
National Banks.-The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
CHARTERS ISSUED TO NATIONAL BANKS FEB. 2 TO FEB.
7.
9,926-The Ocala National Bank, Ocala, Fla. Capital, $75,000. John
in
L. Edwards, President. Clarence Camp, Vice-President. H. D.
Stokes, Cashier.
9,927-The First National Bank of Newville, Ala. Capital, $25,000.
J. W. Whiddon, President. M. V. Capps, Vice-President. J. W.
Capps Cashier. T. H. Deal, Assistant Cashier.
9,928-The First National Bank of Chaffee, Mo. Capital, $25,000. F. W.
is
Loy, President. J. Claude, Wylie, Vice-President. E. A. Reissaus, Cashier. W. D. Loy, Assistant Cashier. (Conversion of the
ChalTee State Bank.)
9,929-The Farmers' National Bank of Warsaw, Ill. Capital, $25,000
en John C. McMahan, President. John M, Hungate, Cashier.
Name of Company.
Railroads (Steam).
Alabama Great Southern, pref
Atch Top & Sa Fe, corn (quay.)(No. 23)
Baltimore & Ohio, common
Preferred
Boston de Albany, guar. (guar.)
Boston de Maine, common (quar.)
Preferred
Canadian Pacific (quar.) (No. 59)
Extra (from proceeds of land sales).Preferred
Chesapeake & Ohio (guar.)
Chestnut Hill (quar.)
Chic. Milw. de St. Paul, corn, and pref
_
Cb. St. P. Minn. dr Om., corn. and pref.
Cin. N.0. tf: Texas Pee., pref. (guar.).
Cincinnati Northern
Cleveland & Pittsburgh, guar. (guar.).-Special guaranteed (guar.)
Cripple Creek Central, pf. (qtr.)(N0.21)
Delaware & Bound Brook, guar. (guar.).
Delaware de Hudson Co. (guar.)
Ft. Worth de Denver City, stamped stock..
Grand Trunk, third preferred
Great Northern Iron Ore Properties
Illinois Central (No. 112)
Louisiana & Arkansas
Manhattan Ry., guar. (guar.)(No. 108)....
Minn. St. Paul de S.
M., arm. & pref
N. Y. Chicago & St. Louis, corn.(annual)
First and second preferred
N. Y. N. H. & Hartford (guar.)
Part paid stock, issue of Dec. 20 1900....
Norfolk& Western, common (quar.)_ _
North Pennsylvania(guar.)
Oswego de Syracuse, guaranteed
Pennsylvania (quar.)
Phila. Germantown & Norristown (quar.)
Pittsb. Youngs. dc Ash., com. & pref.(gu.)
Reading Co. first preferred
Southern Pacific (guar.)(No. 18)
Southern Railway, preferred
Union Pacific, common (guar.)
Preferred (guar.)
Utica & Black River
Vandalia (quar.)
Street and Electric Railways.
American Railways (guar.)
Brockton (Cc Plymouth St. Ry.,pf.(No. 4).
Brooklyn Rapid Transit (guar.)
Columbus (0.) Ry., corn.(guar.)(No. 31).
Detroit United Ry
Duluth-Superior Traction, corn. (quar.)
Preferred (quar.)
Per
When
Cent. Payable.
3
Books Closed.
Days Inclusive.
Feb.
Itch.
Bich.
Bich.
Itch.
April
Bich.
April
April
April
Bich.
Bich.
Bich.
Feb.
Mch.
Mch.
Mch.
Bich.
Mch,
Feb.
Bich.
Feb.
1 Holders of rec. Feb. 10
1 Holders of rec. Feb.10a
1 Holders of rec. Feb.10a
1 Holders of rec. Feb.170
20 Feb. 10 to Feb. 16
20 Holders of rec. Fe13.25a
20 Holders of rec. Feb.10a
50c.
3% Mch.
Mch.
1;1 April
3% April
Bich.
3
2% Mch.
$2
Bich.
51% Mch.
1% Mch.
2
Feb.
4% Feb.
134 Feb.
3
Bich.
Bich.
2
Bich.
13.4 April
April
1
2% April
April
2
3% Mch.
1% Feb.
I Holders of rec. Feb. la
16
1;Holders of rec. Mch. 15
15 Holders of rec. Mch. 31
I Holders of rec. Feb. 30
1 Holders of rec. Feb. 30
31 Holders of rec. Mch. 15
31 Holders of rec. Itch. 15
18 Holders of rec. Feb.28a
25 Feb. 16 to Feb. 21
20 dIfolders of rec.Feb.10a
28 Holders of rec. Feb. 4
4 Feb. 21 to Bich. 3
1 Holders of rec. Feb. 20
10 Holders of rec. Feb.20a
1 Holders of warr't No. 18
24 Holders of rec. April 1
1 Sept. 13 to Oct. 12
1 Sept .13 to Oct. 12
30 Holders of rec. Mchl5a
25 Holders of rec. Feb. 15
3
2
2
1%
3
2
13,
1
1%
3%
33%
1g
3
1
1
2
2;,
1
4
1%
3
1;4
1;1
1
Mch.
Mch.
April.
Mch.
Mch.
April
April
25 Holders of rec. Feb. 40
1 Holders of rec. Jan.310
1 Holders of rec. Feb. la
1 Holders of rec. Feb. la
31 Holders of rec. Feb.280
1 Holders of rec. Mch. 10
1 Holders of rec. Feb.150
1 Holders of rec. Mch. 1
1 Holders of rec. Mch. 1
1 Holders of rec. Mch. 1
31 Holders of rec. Mch.100
4 Feb. 21 to Bach. 3
1 Holders of rec. Feb. 8a
20 Holders of rec. Feb. 3a
15 Mch. 1 to Mch. 2
15 Holders of rec. Mch. Ia
1 Holders of rec. Mch. 10
1 Holders of rec. Feb.15a
6 Feb. 18 to Mch. 5
1 Holders of rec. Mch. 15
1 Holders of rec. Mch. 15
[VoL. Lxxxxii.
THE CHRONICLE
438
Name of Company.
Per
Cent.
%hen
Payable.
Books Closed.
Days Inclusive.
Electric Street and Railways (ConcL)
2)4 Mch. 1 Holders of rec. Feb. 17
Elmira Water, Light & RR., preferred_ _
2% Mch. 15 Holders of rec. Mch. 1
El Paso Elec. Co., corn. (No. 3)
1% Mch. 1 Feb. 16 to Mch. 1
Federal Lt. & Trac., pref. (quar.)_ _
Galveston-Houston Elec. Co., corn;(No. 4). 134 Mch. 15 Holders of rec. Mch. la
Mch. 15 Holders of rec. Mch. la
Preferred (No. 8)
1
Mch. 1 Holders of rec. Feb. 15
Grand Rapids By., COM (guar.)
April
Halifax _Elec. Tram., Ltd.(guar.)(No. 57) 2
13% Mch. 1.Feb. 17 to Mch. 1
Kansas City By. & Light, pref. (quar.)__ _
Mch. 1 Holders of rec. Feb.16a
Metrop.West Side El., Chic..pref.(quar.)
Mch. 15 Holders of rec. Feb.28a
Northern Ohio Trac. & Light (guar.)
Northern Texas Elec. Co.,common (quar) 1)4 Mch. 1 Holders of rec. Feb. 10
3
Mch. 1 Holders of rec. Feb. 10
Preferred (No. 11)
2% Mch. 1 Holders of rec. Feb. 10
Philadelphia Company, preferred
Mch. 1 Holders of rec. Feb. 11
Portland (Ore.) Ry., Lt. & Power(No.1) $1
1%, Mch. 1 Holders of rec. Feb.23a
Rochester Ry. & Light, pref. (quar.)_ _ —
St. Jos. Ry.,L.,H AP.,com.(gu.)(No.10))4 Mch. 1 Holders of rec. Feb.15a
2% Mch. 1 Feb. 16 to Feb. 28
Susquehanna Ry., Lt. & Power, pref
Feb. 28 Feb. 19 to Feb. 28
3
Terre Haute Traction & Light, preferred_ _
1)4 April 1 Holders of rec. Mch.11a
Twin City Rapid Transit, corn. (quar.)
April 1 Holders of rec. Mch.15a
Preferred (quar.)
April 1 Holders of rec. Mch. 15
Washington Water Pow.,Spokane (quar.) 2
1
Mch. 15 Mch. 9 to Mch. 15
West Penn Traction, corn. (No. 2)
Miscellaneous.
$3 Mch. 1 Feb. 15 to Feb. 28
Adams Express (quar.)
54 Feb. 27 Holders of rec. Jan. 28a
Amalgamated Copper (quar.)
1
Feb. 20 Feb. 15 to Feb. 20
American Chicle, common (monthly)___ _
3
Mch. 1 Feb. 21 to Mch. 1
American Coal
$3 April 1 Holders of rec. Feb.28a
American Express (quar.)
15% Mch. 1 Holders of rec. Feb. 20
American Gas (guar.)
2
Mch. 31 Mch. 23 to Mch. 31
American Radiator, common (quar.)
2
Mch. 31 Mch. 23 to Mch. 31
Common (extra)
134 Mch. 1 Feb. 18 to Feb. 26
Am. Smelt. Sec., pref. A (qu.)(No.24)_
Pref. B (guar.) (No. 23)
13% Mch. 1 Feb. 18 to Feb. 26
1
Mch. 1 Holders of rec. Feb.14a
American Stogie, preferred (quar.)
Am.Sugar Refining, corn. cfc pref.(guar.). 13% April 3 Holders of rec. Mch. la
Amer. Telegr. & Cable, guar. (quar.)
13% Mch, 1 Holders of rec. Feb.28a
234 Mch, 1 Feb. 11 to Mch. 8
Aemrican Tobacco, common (quar.). _
Common (extra)
734 Mch. 1 Feb. 11 to Mch. 8
American Writing Paper, preferred
1
April 1 Holders of rec. Mch,15a
13% Feb. 28 Holders of rec. Feb. 21
Associated Merchants, corn. (guar.)
Common (extra)
34 Feb. 28 Holders of rec. Feb. 21
134 Mch. 15 Mch. 5 Mch. 1 15
Borden's Condensed Milk, pref. (guar.)._ _
British Columbia Copper (guar.)
234 Mch. 1 Holders of rec. Feb.24a
25e. Mch. 1 Feb. 11 to Mch. 1
Butte Coalition (quar.)
Butterick Company (quar.)
Mch. 1 Holders of rec. Feb.15a
Consolidated Gas of N. Y. (quar.)
136 Mch. 15 Holders of rec. Feb.15a
Cuban-American Sugar, pref. (quar.). _
1% April 1 Holders of rec. Mch.25a
13% April 15 Holders of rec. April la
Detroit Edison (guar.)
Diamond Match (guar.)
154 Mch. 15 Holders of rec. Feb.28a
Eastman Kodak, cam. (guar.)
236 April 1 Holders of rec. Feb. 28
5
Mch. 1 Holders of rec. Jan. 31
Common (extra)
5
April 1 Holders of rec. Feb. 28
Common (extra)
134 April 1 Holders of rec. Feb. 28
Preferred (guar.)
13% Feb. 20 Feb. 15 to Feb. 20
Fay (J. A.) de Egan, pref. (quar.)
Mch. 15 Holders of rec. Feb. 25
Federal Mining & Smelt., pref. (guar.)._ _
13% Mch. 1 Holders of rec. Feb. la
General Asphalt, pref. (quar.) (No. 15)_
830 Mch. 1 Holders of rec. Feb. la
Preferred(extra) (No. 2)
136 Mch. I Holders of rec. Feb.18a
General Chemical, common (quar.)___.
136 April 1 Holders of rec. Mch,21a
Preferred (guar.)
2
April 15 Holders of rec. Mch. 4a
General Electric (quar.)
% Mch. 1 Holders of rec. Feb. 20
Harbison-Walker Refractories, corn.(guar.)
Homestake Mining (monthly)(No. 435)- - 50c. Feb. 25 Feb. 21 to Feb. 24
Mch. 1 Holders of rec. Feb.10a
Internat. Harvester, pref. (qu.) (No. 16)
International Nickel (quar.)
Mch, 1 Feb. 10 to Mch. 1
1
Common, extra (quar.)
14 Mcb. 1 Feb. 10 [to Mch. 1
International Silver, pref. (guar.)
13% April 1 Feb. 22't to April 2
Preferred (extra)
April 1 Feb. 22 to April 2
Mch. 1 Feb. 22 to Mch. 1
Internat. Smelt. & Refining (guar.)
2
Mch. 1 Feb. 18 to Feb. 28
Kings Co. Elec. L. & P.(quar.)(No. 44). 2
April 1 Holders of rec. Mch. 15
3
Knickerbocker Ice, preferred (No. 24)
x Mc'''. 15 Mch. 2 to Mch. 15
Laclede Gas Light, common (guar.)
Feb. 28 Holders of rec. Jan. 31
2
Lehigh Coal & Nay. (quar.) (No. 129)—
Mch. 1 Feb. 17 to Mch. 1
Michigan State Telephone, corn. (guar.)_
1 April 16 to May 1
134 May
Preferred (guar.)
13% April 15 Holders of rec. Mch.28a
National Biscuit, common (quar.)
1% Feb. 28 Holders of rec. Feb.15a
Preferred (quar.)(No. 52)
13% Feb. 15 Feb. 1 to Feb. 20
National Carbon, pref. (guar.)
Mch. 31 Mch. 11 to Mch. 15
National Lead, cam. (guar.)
13% Mch. 15 Feb. 18 to Feb. 22
Preferred, (guar.)
134 Mch. 20 Mch. 14 to Mch. 20
Niles-Bement-Pond, common (quar.)_
13j April 1 Holders:of rec.Mch.16da
North American Co.(quar.)
13% Feb. 25 Holders of rec. Jan.20a
People's Gas Light & Coke (Guar.)
13-4 Mch. 15 Holders of rec. Feb.21a
Philadelphia Electric (quar.)
13% Feb. 20 Feb. 11 to Feb. 20
Pittsburgh Brewing, common (quar.)__ _
13% Feb. 20 Feb. 11 to Feb. 20
Preferred (quar.)
1% Mch. 1 Holders of rec. Feb. 18
Pittsburgh Steel, pref. (guar.)
Pressed Steel Car, pref. (quar.) (No. 48) 13% Feb. 23 Feb. 3 to Feb. 22
Quaker Oats, common (quar.)
23.4 April 15 Holders of rec. April la
134 Feb. 28 Holders of rec. Feb. la
Preferred (quar.)
Preferred (guar.)
13.4 May 31 Holders of rec. May la
1
Mch. 20 Holders of rec. Feb. 25
Quincy Mining (quar.)
Republic Ir. de St., pf. (guar.)(No. 37).... 13% April 1 Holders of rec. Mch.16a
$15 Mch. 15 Holders of rec. Feb. 20
StandardOil (guar.) •
Mch. 1 Feb. 21 to Mch.
Stern Bros., pref. (quar.) (No. 1)
13% Mch. 1 Holders of rec. Feb.23a
United Cigar Mfrs., pref. (quar.)
United Dry Goods Cos., pref. (guar.)
134 Mch. 1 Holders of rec. Feb. 24
U. S. Cast Iron P.&F., pf. (gu.)(No. 38) 134 Mch. 1 Holders of rec. Feb.21a
, United States Envelope, preferred
334 Mch. 1 Holders of rec. Feb. 15
U. S. Radiator Corp., pref. (guar.)
13% April 15
U. S. Steel Corp, corn. (quar.)(No. 29).
134 Mch. 30 Mch. 2 to Mch. 12
13% Feb. 27 Feb. 7 to Feb. 27
Preferred (quar.) (No. 39)
a Transfer books not closed. b Extra dividend Is in full of accumulated unpaid
dividends and Is payable in convertible 5% debentures. d Correction.
Auction Sales.—Among other securities, the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller & Son:
Stocks.
7.000 Joplin Galena Cons. Zinc"&
Lead Co.lst 6s, 1925,July
1901 coupons on
280 Joplin Galena Cons. Zinc &
Lead Co
21,200 Olympic Min. Co., $1 each..
$500 Himalya Min, Co. 1st 6s,
1928, Mch. 1911 coup. on
105 Himalya Mining co
1,166 Detroit & Deadwood Min- $310
log Co.. $1 each
lot
5,550 Detroit & Deadwood Gold
Mining Co., $1 each
50 United Verde Jr. Copper
Mining Co.,$10 each
250 Standard Time Stamp Co..
50 New Eng. Phonograph Co_
1,400 Val Verde Copper Min. Co.,
Ltd., $5 each
100 Ely Copper Min. Co.,$5 ea.
25 Cleve. Linseed 011 Co., pref
775 Congo!. Zinc & Lead Co.,
common, $25 each
5 Pine Lawn Cemetery, Land
Purchase Fund
452 NY.Phonograph Co.V.T.C.
10 N. Y.Phonograph Co
9.000 Iona Gold M.Co.,$5 ea_ 10c per sh
100
25 Bronx National Bank
5 Lawyers Mortgage Co
24614
3 Central Fireworks Co.; pry!. 14
Stocks.
25 Coney Island Jockey Club..160
r 133 Hippodrome Amusement Co.315
2,799 Kimberly Iron Co., $25 each 11
2 Amer. Connoisseur Co.,$10)
each
}$2
2 Talk Co., $50 each
4 Central Fireworks Co., corn.. 13.1
5 Cons. Fire works Co., corn__ 7
25 National Park Bank _370%-370
50 Universal Machine Screw
Co. of Hartford,Conn__
70 Merwin PaperCo.of Hart- $10232
ford, Conn
$5,000 Tol. St.L. & W. RR.[Co.
1st 9s, 1950
$60 lot
5 Carnegie Trust Co
250 Planters & Mech. Bank of
Oklahoma City, Okla..$1100 lot
$1,000 Joplin Galena Congo'. Zinci
& Lead Co. 1st 6s, 1925,
April 1901 coupons on _
60IN.Y.Phonograph Co.V.T.C.}$21
25 Cleve. Linseed 011 Co., comc lot
15 Joplin Galena Cons. Zinc &
Lead Co
Bonds.
$2,000 Chicago Auditorium Assn.
58, 1942, F.& A
50 & int.
$1,000 Chicago Polyclinic 1st 4s1935 50
$1,600 Lincoln Gas et Elec. Co. 1st
cons. 5s; 1941, J. & D
74 & Int.
Statement of New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending Feb. 11.
The figures for the separate banks are the averages for the
daily results. In the case of the totals the actual figures
at the end of the week are also given.
For definitions and rules under which the various items
are made up, see "Chronicle," V. 85, p. 836.
We omit two ciphers (00) in all cases.
Banks.
00s omitted.
Bank of N. Y__
Manhattan Co_
Merchants' .._ _
Mech. & Metals
America
Phenix
City
Chemical
Merchants' Ex_
Gallatin
Butch. dc Drov _
Greenwich
Am. Exchange..
Commerce
Mercantile
Pacific
Chatham
People's
Hanover
Citizens' Cent...
Nassau
Market & Fult'n
Metropolitan _
Corn Exchange..
Imp.& Traders'
Park
East River-Fourth
Second
First
Irving Exch.....
Bowery
N. Y. County....
German -Amer..
Chase..
Fifth Avenue.._
German Exch_
Germania
Lincoln
Garfield
Fifth
Metropolis _
West Side
Seaboard
Liberty
N. Y.Prod. Ex.
State
14th StreetCoal & Iron........
Union Exch......
Capital. Surplus.
Loans.
Average.
Specie. Legals. Deposits.
Average. Average. Average.
2,000,0
2,050,0
2,000,0
6,000 0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
25,000,0
3,000,0
500,0
450,0
200,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
250,0
5,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
21,065,0
31,750,0
20,575,0
53,924,5
27,182,9
5,953,0
172,870,7
29,912,0
7,125,4
8,627,2
2,268,6
7,726,5
40,386,2
155,929,8
13,876,5
3,734,3
8,448,1
1,775,9
70,495,5
22,669,2
7,565,0
8,732,5
10,149,0
42,363,0
26,645,0
87,719,0
1,501,8
37,439,0
12,774,0
105,478,5
24,736,2
3,272,0
7,908,8
4,169,6
78,781,0
12,987,8
3,450,0
5,009.8
13,519,2
8,663,0
3,240,6
12,240,0
4,109,0
23,321,0
19,516,7
7,845,6
15,162,0
5,716,9
6,061,0
8,944,9
3
4,112,0
7,060,0
3,348,0
12,307,4
5,146,4
1,855,0
54,798,0
5,571,7
1,531,1
1,282,0
475,8
1.992,4
6,460,6
28,904,3
1,693,1
338,2
1,357,2
504,2
13,813,1
5,403,6
961,1
1,093,6
2,417,1
8,727,0
4,420,0
22,913,0
260,6
8,451,0
3,238,0
28,408,7
4,888,2
814,0
1,347,3
817,7
21,771,0
2,774,2
274,5
1,022,1
2,722,3
1,794,8
655,6
1,684,4
903,0
5,386.0
4,941,1
2,237,5
4,442,0
1,101,1
789,0
1,014,7
3,578,4
4,362,2
1,835,4
8,067,8
6,006,3
755,7
32,665,9
6,496,3
574,3
2,515,4
148,5
845,4
4,336,7
16,511,9
2,678,7
927,8
1,042,0
480,3
12,155,9
1,732,6
546,0
1,727,1
1,518,8
5,429,2
7,535,7
12,511,9
94,2
5,616,6
2,136,8
20,543,2
1,807,1
802.7
1,646,7
711,2
7,953,4
2,170,6
901,3
1,023,4
1,560,8
1,209,1
513,5
2,088,4
1,051,5
1,985,5
2,692,7
735,6
893,2
311,2
401,4
925,2
Reeve.
$
989,0 19,330,0 26.3
1,733,0 35,500,0 24.7
2,078,0 21,163,0 25.6
1,621,6 52,905,4 28.3
2,051,3 28,035,2 25.6
9,520,0 39.7
439,0
6,450,0 178,000,4 34.4
1,833,7 28,329,0 26.2
7,272,5 24.4
245,0
6,881,6 26.0
506,9
2,146,2 26.0
82,4
8,738,5 25.0
195,4
3,498,8 40,342,3 24.7
7,924,1 138,265,4 26.7
1,195,8 10,746,7 26.8
3,211,9 25.6
483,7
9,209,4 27.7
1,199,7
146,2
2,330,8 27.8
7,594,4 81,013,9 26.4
326,0 22,241,5 25.9
8,876,2 28.4
1,389,9
8,743,1 27.3
1,296,1
241,4 10,090,9 26.3
4,906,0 50,651.0 26.9
1,723,0 24,344,0 25.2
1,299,0 93,490,0 25.9
1,704,1 25.2
169,2
2,150,0 40,142,0 26.4
126,0 12,870,0 26.1
1,703,4 101,327,8 29.7
2,047,5 26,280,1 26.3
3,422,0 25.4
58,0
8,074,4 25.5
673,5
4,068,6 25.5
220,8
4,762,0 90,509,0 29.3
988,8 14,639.3 25.7
3,298,0 24.2
525,5
5,832,2 26.1
504,2
752,9 13,929,4 25.0
8,686,8 24.6
350,8
3,596.8 26.5
299,3
1,488,1 12,395,8 25.5
4,587,0 25.2
253,0
1,642,0 27,378,0 25.6
738,1 20.976,1 27.0
9,330,8 26.3
220,7
312,0 19,051,0 25.0
538,6
6,375,6 25.7
801,0
6,260,0 25.3
1,206,6
8,884,3 25.0
Totals, Average 133,350,0 196,761,5 1315,317,2 300,224,7 73,981,4 1351,398.0 27.7
1321,543,5 300,706,9 74,563,0 1358,003,3 27.6
Actual figures Feb.11.
On the basis of averages, circulation amounted to $46,664,900 and United States
deposits (included in deposits) to $1,669,200; actual figures Feb. 11, circulation,
$46,518,500; United States deposits, $1,661,400.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater
New 'York) and those for tile rest of the State, as per the
following:
For definitions and rules under which the various items are
made up, see "Chronicle," V. 86, p. 316.
STATE,BANKS AND TRUST COMPANIES.
Week ended Feb. 11
Capital as of Nov. 10......
Trust Cot.
Stale Banks
Trust Cos.
State Banks
outside
outside of
in
in
Greater N. Y. Greater N. F. Greater N. V. Greater N. l'
S
25,275,000
$
65,406,000
39,391,800
5
8,998,000
$
9,525,000
174,583,300
11,245,739
11,078,293
Loans and investments....
Change from last week_
286,044,200 1,017,345,800
—2,760,800 +6,248,800
94.679.200
—59,700
143,985,300
+619,500
Specie
Change from last week..
46,681,500
—1,953,000
107,248,300
—1,749,400
Legal-tenders Sr bk. notes
Change from last week_
24,079,900
—1,617,300
13,923.700
+1,123,500
Deposits
Change from last week_
331,362,800 1,087,128,600
—4,485,200 +8.522,800
•
99,994,500
—260,800
153,152,70C
+371,70C
Reserve on deposits
Change from last week_
94,778,400
—2,451,100
127,143.500
—773,900
20,652,000
—339,100
23,720,10C
—205,70C
P. C. reserve to deposits..
Percentage last week
29.9%
29.5%
15.9%
15.7%
21.4%
21.7%
16.2%
16.3%
Surplus as of Nov. 10____
+ Increase over last week. — Decrease from last week.
Note.—"Surplus" Includes all undivided profits. "Reserve on deposits" in.
eludes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents. Trust companies in New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below. The percentage of reserve required is computed on
the aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, represented by certificates, and also exclusive of deposits secured by bonds of the State
of New York. The State banks are likewise required to keep a reserve varying
according to location, the reserve being computed on the whole amount of deposits
exclusive of time deposits not payable within 30 days, represented by certificates
(according to the amendment of 1910) and exclusive of deposits secured by bonds
of the State of New York.
—State Banks—
—Trust Cos.—
Of
Reserve Required for Trust Companies
Total
Of
Total
trhtch
and State Banks.
Reserve
which Reserve
Location—
Required in Cash.Required. in Cash.
15%
25%
15%
Manhattan Borough
15%
10% •
20%
10%
Brooklyn Borough (without branches In Manhat.) 15%
10%
15%
736%
Other Boroughs (without branches In Uanhattan) 15%
15%
20%
20%
Brooklyn Borough, with branches in Manhattan.._15%
15%
15%
15%
15%
Other Boroughs with branches in Manhattan_
10%
5%
15%
6%
Elsewhere In State
FEB. 18 1911.]
THE CHRONICLE
439
The Banking Department also undertakes to present
Boston and Philadelphia Banks.-Below is a summary
of
separate figures indicating the totals for the State banks and the weekly
totals of the Clearing-House banks of Boston
trust companies in the Greater New York not in the Clearing and
Philadelphia.
House. These figures are shown in the table below, as are
We omit two ciphers (00) in all these figures
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each correCapital
and
Loans.
Specie. Legals. Deposits. a Circu- Clearings.
sponding item in the two statements, thus affording an Banks. Surplus.
lation.
aggregate for the whole of the banks and trust companies in Boston,
Jan. 21_ _ 40,200,0 206,216.0 27,647,0
the Greater New York.
3.506,0 262,512,0 7,796,0 208,459,6
Jan. 28.._ 40,200,0
NEW YORK CITY BANKS AND TRUST COMPANIES.
Week ended Feb. 11.
Capital 1Nat. Banks,
Jan. 7---Surplus State Banks,
J Nov. 10___
Clear.-Ilouse Clear -House State Banks cfc
Total of all
Banks.
Banks.
Trust Cos. not Banks& Trust
ActualFigures
Average.
in C.-H. Aver. Cos. Average.
133,350,000
133,350,000
74,731,000
208,081,000
196,761,500
196.761,500
183,170,000
379,747,100
Loans and investments 1,321,543,500 1,315,317,200 1,097,180,700 2,412,497,000
Change from last week +12,360,500
+6,724.500
+5,241,500 +11.966,000
Deposits
1,358,003,300 1,351,398,000 a1,052,795,500 2,404,193,500
Change from last week A-13,881,200 +10,335,800
+5,505,600 +15,931,400
Specie
300,706,900
300.224,700
112,737,900
412,962,600
Change from last week
+510,900
A-2,649,600
-1,821,000
+828,600
Legal-tenders
74,563,000
73,981,400
b21,682,400
95,663,800
Change from last week A-1,329,900
+666,100
+1,943,600
+1,277,500
Aggete money holdings
Change from last week
375,269,900
+1,840,800
374,206,100
+3,315,700
Money on deposit with
other bks. & trust cos.
Change from last week
Total
Since Jan. 1.
Dry Goods
General Merchandise
531,387,600
+1,440,000
27.66%
27.81%
27.72%
27.68%
17.5%
17.4%
36,356,600
+ Increase over last week. -Decrease from last week.
a These are the depos ts after eliminating the item "Due from reserve
depositories
and other banks and trust companies in New York City"' with this
included,
deposits amounted to $1,186,891,500, an increase of $6,907,100 over item
last week. In
the case of the Clearing-House banks, the deposits are "net" both for the
average
and the actual figures. b Includes bank notes. c Of this amount State banks
held
$13,248,300 and trust companies $121,172,000.
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
In Greater New York outside of the Clearing-House compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two ciphers in all these figures.
Week
Ended.
Loans and
Investments .
Dec.
Dee,
Dec.
Dec.
Jan,
Jan.
Jan,
Jan.
Feb.
10._
17_
24__
31__
7__
14__
21_
28._
4._
$
2,337,587,5
2,327,051,6
2,330,147,6
2,341,817,9
2,328,080,2
2,287,094,2
2,314,241,8
2,346,919,6
2,400,531,9
Fob
11
9 A19 A07 0
Deposits.
Specie.
I
$
2,246.876,1 353,478.3
2,237,094,3 352,408,7
2,244,128,2 356,629,3
2,256,564,0 355,917,5
2,254,509,1 357,504,3
2,230,817.2 372.712,3
2,278,042,7 391,052,4
2,325,565,5 402,126,4
2,388.262,1412,134,0
9 AnA 105 g
Al9 OW) A
Tot. Money Entire Res.
Holdings. on Deposit.
Legals.
$
88,161.3
89,306,6
89,257,5
91.038,5
92,086,4
93,917,8
95,099,7
97,910,8
93,720,2
$
441,639,6
441,715,3
445,886,8
446,956.0
449,590,7
466,630,1
486,152,1
600,037,2
505,854,2
OA AAR R
ens R941 4
$
465,636,4
465,650,6
469,142,3
468,777,8
472.423,2
489,427.3
508,071,6
521,788,6
529,947,6
A21 557 A
Reports of Clearing Non-Member Banks.-The following
Is the statement of . condition of the clearing non-member
banks for the week ending February 11, based on average
daily results:
We omit two ciphers (00)in all thesefigures.
Banks.
Capt.
(al.
Sur.
plus.
Loans,
Disets
and
Investments.
N. Y. City
Boroughs of
Man.& Brx.
Wash. II'ts 100,0
274,3 1,158,0
Century .. _ _
250,0
155,6 1,441,7
Colonial _
391,4 6,049,2
400,0
Columbia
300,0
775,8 6,876,0
Fidelity _ _
172,5 1,049,4
200,0
Jefferson_ _ _
500,0
537,5 3,112,1
Mt. Morris. 250,0
313,9 2,421,5
Mutual _
379,5 3,040,9
200,0
Plaza
462,0 4,071,0
100,0
23d Ward_
200,0
110,6 1,760,6
Yorkville _
100,0
482,0 4,057,7
New Neth_ _
200,0
259,8 2,168,0
Bat.Pk.Nat. 200,0
149,4 1,517.1
Aetna Nat_
300.0
312,4 1,878,1
Borough of
Brooklyn.
Broadway _
200,0
534,2 3,297,0
252,0
Mfrs.' Nat_
835,8 5.387,0
Mechanics' 1,000,0
882,0 11,090,1
Nassau Nat. 750,0 1,015,3 7,071,0
300,0
587,6 3,742,0
Nat. City_
200,0
149,5 1,94:1,0
North Side_
623,5 3,258,0
First Nat_ _ 300,0
Jersey City.
400,0 1,272,9 5,168,7
First Nat_ _
765,3 2,945,0
IIud.Co.Nat
250,0
407,6 2,043,6
Third Nat _
200,0
Hoboken.
621,3 3,100,9
First Nat
220,0
245,9 2,661,9
Second Nat. 125,0
Specie
Legal
Tender
and
Bank
Notes.
Deposit with
Clearing
Agent.
Other
Net
Banks. Deposits.
&c.
$
55,0
178,9
473,7
567,0
109,2
204,1
36.6
668,6
434,0
65,0
764,8
73,0
34,7
33,0
137,0
99,0
979.7
665,0
351,6
173,4
368,9
915,1
1,003,0
324,9
211,2
466,0
82,0
254,0
17,0 1,126,0
110,5 1,475,6
27,9 7,519,7
61,0 7,699,0
1,122,7
384,1 3,551,5
62,2 3,108,6
4,261,1
5,373,0
2,109,0
283,5 5,216,8
35,0 2,536,0
1,184,1
75.5 1,954,0
45,6 454,8
552,7 185,3
356,2 1,204,6
648,0 311,0
97,0 519,0
131,7 129,7
290,0
79,0
280,6
894,2
1,483,6
1,562,0
653,0
264,0
387,0
227,2 3,720,7
120,0 5.971,1
208,5 14,326,3
7,678,0
163,0 4,827.0
85,7 2,306,9
39,0 2,884,0
320,8
150,2
64,2
519,5
44,5
123,8
2,508,4
259,3
565,8
289,0 7,289.5
111,7 2,561,2
37,5 2,384,6
129,9
84,8
19.1
128,5
163,8
81,3
137,0
40,7
723,9
606,0
71,0
198,0
454,2
16,0
332,0
183,3
47,3
220,0
135,1
454,8
96,7
161,2
2,774,3
2,913,5
Tot. Feb. 11 7,497,0 12,717.6 92,309,5 6,490,4 7,506,4 15,133,8 2,596,2 107874,5
Tot. Feb. 4 7,497,0 12,717,6 92.333.1 6,997.9 7,155.0 14,355,2 2,922,4 107318,5
Tot. Jan. 28 7,497,0 12,717,6 92,594,3 6,532,4 7,290,8 13,809,5 3,061,2 107352,7
For week.
22,761,200
-1,332.200
157,181,500
-1,875,700
312,829,0 15,708,0
311,530,0 15,687,0
313,779,0 15,694,0
311,911,0 15,695,0
157.642,7
137,475,5
165,030,2
147,533,0
FOREIGN IMPORTS AT NEW YORK.
22,761,200
-1,332,200
Percentage to deposits
requiring reserve
Percentage last week
158,011,7
185,246,6
157,232,4
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Feb. 11; also
totals since the beginning of the first week in January.
Dry Goods
General Merchandise
374,206.100
+3,315,700
259,493,0 7,765,0
275,617,0 7,763,0
267,937,0 7,778,0
a Includes Government deposits and the item "due to other banks."
At Boston
Government deposits amounted to $3,052,000 on February 11,
against $3,056,000
on February 4.
508,626,400
+2,772,200
375.269,900
+1,840,800
35,769,075
207,387.0 28,376,0 3,417.0
40.200,0 216,804,0 28,335.0 3,225,0
40,200,0 217.978.0 26,834,0 3.375,0
55,465.0 257.988,0
75,834,0
55,465,0 259,624,0
75,971,0
55.465,0 260,996,0
77.198,0
55,465,0 262,850,0
73,615,0
c134,420,300
-543,500
Total reserve
Change from last week
Surplus reserve
Feb. 4 _ _
Feb. 11_ _
Phila.
Jan. 21.._
Jan. 28 _ _
Feb. 4
Feb. 11_
1911.
1910.
$4,241,406
16,085,528
1909.
$2,463.203
15,208,735
1908.
$4,022,901
13,175,038
$3,114,551
7.687,951
$20,326,934 817.670,938 $17,197,939 $10,802,502
$20,293,132 $21,148,298 $22,299,500 $18,451,953
78,672,982 89,092,866 70,878,999 45,172,632
Total 6 weeks
$98,966,114 $110,241,164 $93,178.499 $63,624,585
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. 11 and from Jan. 1 to date.
EXPORTS FROM NEW YORK.
1911.
1910.
1909.
1908.
For the week
Previously reported
$13.477,536 $13,412,736 $11,090,451 $14,315,918
76.774,197 63,572,264 64,202,376 87.949,314
Total 6 weeks
890,251,733 876,985.000 $75,292,827 $102,265,232
The following table shows the exports and imports of
specie at the port of New York for the week ending Feb. 11
and since Jan. 1 1911 and for the corresponding periods in
1910 and 1909:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Gold.
Exports,
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Total 1911
Total 1910
Total 1909
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Total 1911
Total 1910
Total 1909
Imports.
SinceJan.l.
$25,600
631,970
5,000
225,000
49,875
Week.
Since Jan.1
$4,825
$15,644
23,609
47,702
4,837
74.092
1,816
830.530
19.890
374,641
264,057
$30,600
$906,845
4,687 3,127,263
3,382,000 11,475,125
$133,272 $1,528,371
540,300
952,552
136,583
795,540
$447,203 $5,023,125
52,200
382,200
16,493
51,561
1,000
700
9,502
25,468
49,953
3,438
$109,148
9,762
791
13,454
242,900
183,021
247,935
8499,403 $5,475,079
636,249 9,921,624
756,104 5,931,523
$88.361
61,320
104,203
$802,011
552,079
595,757
Of the above imports for the week in 1911, $47,550 were
Atnerican gold coin and $9,502 American silver coin.
Maititing and Financial.
Railroad and Industrial Stocks
Let us send you our circular describing 110 ISSUES of listed Railroad and Industrial Stocks.
Spencer Trask & Co.
43 EXCHANGE PLACE.- - NEV YORK.
Chicago, Ill.,
Boston. Mass..
Albany, N. Y.
Members New York Stock Exchange.
WHITE, WELD & CO.
Members New York Stock Exchange,
5 NASSAU STREET:
NEW YORK
THE ROOKERY:
CHICAGO
[VOL. Lxxxxii.
THE CHRONICLE
440
JAN. 7, 1911.
ABSTRACT FROM REPORTS OF THE NATIONAL BANKS MADE TO THE COMPTROLLER
Deposits.
Surplus.
Capita'.
No. of
Banks
Jan. 7 1911
Individual.
Other.
Loans
and
Discounts.
Gold
Gold and
Gold Cry-H. Treasury
Certificates C.Veficate?.
Silver.
Silver
Treasury
C:rtificates.
L...yal
Tender
Notes.
•••••
Maine
New Hampshire
Vermont
Massachusetts
Boston
Rhode island
Connecticut
New England States____
Ne5v York
New York City
Albany
Brooklyn
New Jersey
Pennsylvania
Philadelphia
Pittsburgh
Delaware
Maryland
Baltimore •
District of Columbia
Washington
8,173,700 3,351,750
5,460,000 2,824,054
5,210,000 1,910,764
31,167,600 17,283,220
22,950,000 18,400,000
6,700,250 3,889,400
19,914,200 11,159,300
37,&3,760
249,885
19,119,409
278,169
116,487
18,000,999
272,218
123,912,461
155.804,272 3,044,785
216,953
28,646,076
65,389,812
268,695
972
90,575,650 58,818,488
948,796,789 4,447,182
405
39
3
5
196
771
33
24
28
90
18
1
11
46,146,789 29,465,840
119,900,000 126,055,000
2,100,000 2,200,000
1,802.000 2,250,000
21,792,000 20,956.555
60,634,672 65,625,082
22,655,000 37,450,000
26,700,000 27,980,000
2,373,985 2,157,500
5,291,700 3,501,096
12,790,710 7,870,010
252,000
252,000
5,900,000 4,313,663
301,192,012
997,591
062,020,068 2,730,602
183,344
18,159,687
388,243
17,184,797
602,227
170,291,060
635,222
397,079,573
589,301
164,721,627
708,000
118,673,839
40,445
10,099,019
103,975
33,500,968
640,824
43,000,857
17,500
918,558
22,110,729 1,230,197
Virginia
West VIrginla
North Carolina
South Carolina
Georgia
Savannah
Florida
Alabama
Mississippi
Louisiana
New Orleans
Texas
Dallas
Fort Worth
Galveston
Houston
Ban Antonio
Waco
Arkansas
Kentucky
Louisville
Tennessee
Southern States
35,040,750
13,000,000
9,350,000
3,750,000
21,218,000
6,300,000
30,670,000
41,400,000
10,003,039
5,150,000
10,695,000
5,750,000
11,911,000
6,900,000
4,100,000
18,175,000
400,000
2,000,000
600,000
6,505,000
7,100,000
1,100,000
20,900,000
358
8
7
9
254
7
427
1/
08
4
122
6
262
6
6
318
3
4
3
105
11
4
9
Ohio
Cincinnati
Cleveland
Columbus
Indiana
Indianapolis
Illinois
Chicago
Michigan
Detroit
Wisconsin
Milwaukee
Minnesota
Minneapolis
St. Paul
Iowa
Cedar Rapids
Des Moines
Dubuque
Missouri
Kansas City
St. Joseph
St. Louis
2,042
Middle Western States
148
101
223
4
7
3
201
2
2
3
57
29
116
7
3
41
218
4
7
North Dakota
South Dakota
Nebraska
Lincoln
Omaha
South Omaha
'Kansas
t Kansas City
Topeka
Wichita
Montana
Wyoming
Colorado
Denver
Pueblo
New Mexico
Oklahoma
Muskogee
Oklahoma City
1;176
Western States
Washington
Seattle
Spokane
Tacoma
Oregon
Portland
California
Los Angeles
San Francisco
Idaho
Utah
Salt Lake City
Nevada
Arizona
Alaska (Nov.10 1910)
67
5
5
2
71
4
175
9
10
47
16
5
11
13
2
77,040,050 38,927,389
378,827,630 6,150,819
1,224 622
292 978
183,387
17,500
610,000
100,000
167,339,556
59,244,136
55,399,388
16,936,872
94,519,192
28,598,052
156,599,512
280,061,062
65,914,383
• 31,521,139
62,771,669
39,165,960
79,161,051
46,283,453
26,995,749
103,025,507
5,742,049
10,889,038
2,340,088
26,242,534
55,971,271
9,193,883
117,047,567
4,697,710 '3,222,900 1,146,032 1,454,488 3,855,491
119,577 1,639,451 1,647,879
1,010,840 5,267,770
614,452 1,465,426
227,814
2,148,283 3,558,300
990,188
294,973
126,535
694,450
751,485
1,031,847 2,087,173
854,654
3,013,010 2,185,180
901,550
452,959
186,832
1,081,308 2,230,000
4,384,681 3,773,520 1,242,332 1,513,544 3,291,901
611,259 16,693,069 22,494,284
5,761,956 29,587,000
1,000,320
550,795
497,010
1,104,290
2,344,722
113,124 1,820,050
153,362
200,630
1,958,637
555,593 1,050,819
430,822
2,042,488 1,809,240
159.473 1,397,221 1,638,415
895.108 1,380,000
901,683
533,881
608,103
2,929,584 1,415,070
61,535 1,522,066
172,156
2,542,437 1,762,060
571,309
233,957
283,224
550,240
2,432,610
668,195
547,170 1,737,191
2,435,643 1,885,280
34,279
125,300
280,400
123,930
78,520
98,195
223,725
557,780
119,049
253,988
45,006
30,617
122,099
55,000
154,925
278,827
677,397
215,356
384,400
807,012
479,648 2,111,788 1,118,813
2,182,993 2,456,370
182,022
256,470
138,070
340,860
411,472
284.238 3,383,987 4,851,291
3,496,685 16,754,720
504-7775
699,630 1,901,803
355,059,340 47,160,827 5,613,500 3,250,801
=--=
148
348
20,841
1 1101,268,898
277,810
356
4,606
25 000
162,695
170
1
•
c4
A
„z
ZS
53 31 902 269
307 1,516 120 2 2 23 27
168 3 3 42 33
48 2 1 16 16
596 32 7 155 72
565 13 18 165 119
1 2
19
Capital _______ 23
Sur. Jr un. prof. 29
8
Circulation
Duo to banks- 86
Due depositors_ 159
2
Other liabilities
A
108 46
13
10
30 5
44 23
3 2
5 43 52 47 26 45 114 05 33 58 491 54 67 78
4 3
3 5 2 2 4
3 3 3 3 4
11 14 15 4 12
19 24 22 14 19
1
2 1 1
14
10
8
4
-e;
7)•
$ 3
$ S
3
$
800 21 15 212 139 57 22 3 22 27 27 14 23 59 55 17 29 280 32 39 96 27
84 2 1 18 13 0 7 1 4 4 3 3 5 0 6 3 8 19 3 5 4 3
4 4 26 4 4 3 3
108 6 4 30 29 9 4
2 2
1 3
1 1 1
32 1 __ 7 21 3 3
4
1 1 3
2 1 1 1
92 18 4 90 32 20 6 1 8 12 9 4 9 20 17 4 10 69 9 10 16 8
1
3 2
1
1
1 1 _
'5
170 -2 - 1 21 13 4 -5
-5 2
1 -5 6 6 2 4 36 2
2
42.. 1 6 4 3
2
1 •1 1
17
2
48 2 1 3 6
1 1
22 2 2 2
2 2 2
-5 1 1
99 1 4 12 5
18 2 2 '2
$
fl" FLoans. disc.,&c. 182
12
U.S. bonds_
Stocks, bds.,&c. 12
5
A Real estate, &e.
iDue from banks 56
Nat. bank notes
15
Gold
9
iSilver
4
Legal tenders
Other resources 11
30
9
vs
8
•
4-1
5.5
.13
1
1
1
7
7
60
E°1
0
Cs
8
$
8 11 56 9 117
34 4 5 32 9 4.5 17 36
1 2 5 1 19
1 5 2 6 3 6
3
1
4
9
3 1 1 11 1 5 3 s
1
2
_
1
4
1
30 4 43 2 11 3
3
14 5 12 5 10
1
1
1
5
8 "id 7:
9
7
2
4
1
1
5
1
4
3
"5 1
2
1 2 7
5
1
1
7 8 54
s 7 38
„e
4e)
S
17 15 19 103 17 227
4 6 41 5
7 4
2 3 30
7 4
6 3 5 18 2 5 3 2
:30 33 5 15 213 15 12 23 12
48 38 19 23 187 28 40 38 25
3
4 2 1
Kan City,Kan.
•
Totals for
Reserve Cities, &e.
In Millions.
Totals
8
410,337
411,011
381,963
2,760,228
3,854,972
661,412
1,319,900
474,268,571 13,068,622 12,511,280 3,492,446 10,616,080 0,814,830
----5,873.157
248,681,014 5,605,667 5,456,400 1,275,030 3,414,320 47,700,372
808,696,569 57,410,195 112,306,830 1,137,636 41,104,195
1,672,360
97,612
81,177
485,746 1,509,340
21,311,602
610,170
998,689
112,754
845,450
237,123
15,608,553
689,648 2,412,086 3,759,979
133,792,472 1,905,765 2,747,930
323,609,184 9,045,561 7,003,210 1,996,513 4,033,089 7,321,699
3,061,173
5,545,921
6.83,293
212,320,761 9,829,198 11,636,000
838,559 3,038,103 5,803,844
138,593,182 5,615,481 7,418,100
196,044
258,956
72,476
120,630
9,963,009
147,934
626,076
403,337
133,707
572,150
25,175,171
460,683
601,940
158,176 2,483,698
56,882,993
592,838 3,391,050
39,500
27,376
4,295
42,900
17,400
838,845
408,526
687,632
81,203
21,587,184
66,819 2,026,850
019,557
10,208,722 181,915,380
47,110,540 1,118,253
7,250,000
236,932
38,218,334
4,050,000
90,740
19,191,719
1,291,000
8,535,756 104,726,305 1,168,033
392,770
22,277,740
2,501,000
16,018,375 179,9:55,765 3,251,471
877,785
25,488,500 185,776,962
511,371
79,419,094
5,044,406
426,925
27,958,511
1,850,000
228,546
83,184,994
4,034,706
658,062
39,585,091
2,660,000
193,000
86,309,962
5,431,771
173,163
37,873,209
5,894,756
766,467
24,338,279
3,190,000
371,806
97,608,398
6,927,961
31,000
2,392,689
305,000
183,329
6,602,740
585,000
41,443
2,320,460
130,000
17,000
28,288,809
2,511,216
597,314
37,620,760
3,220,000
111,412
6,668,555
550,000
513,908
72,099,759
12,026,000
Ft. W.
United States
=„
;3
S
345,960
321,211
136,934
1,603,647
6,875,069
346,896
986,863
140
4,954
27,204
504,773
20,110
1,431,503
277,980
1,517,000
200,867
710,000
5
7.9)8 1_007.335.43-51365.792.492 5.113.221.818 46,718,256 5,402,642,352 227.977.678 284.840.040 33.141.108 121.912.287 168.308.004
Island Possessions
4
s
3
8
139,105
565,690
142,286
244,350
118,388
139,770
699,749
1,417,080
8,041,480 1,955,605
99,021
920,240
338,292
782,670
272,917,789 135,504,169 1,411,514,035 12,576,177 1,540,963,089 47,874,087 81,544,060 8,832,154 33,849,197 55,400,421
384,505
200,378
252,800
561,500
628,311
26,721,185
285,894
25,783,908
5,260,000 1,587,265
371,429
202,517
243,158
634,560
802,654
25,622,950
645,793
27,718,677
4,140,000 1,101,112
512,192
315,783
368,145
848,610
61,889
98,545,001
51,183,580 1,510,182
9,995,000 3,791,985
241,776
30,433
55,420
126,250
276,105
5.676,622
48,211
4,388,802
1,000,000
330,000
676,798 1,125,975
277,434
27,993,694 1,686,285 1,038,100
946,593
25,932,824
3,600,000 2,157,500
173,399
31,886
58,782
31,000
367,288
2,000
5,798,791
4,809,324
370,000
675,000
896,942
520,435
586,269
50,825,249 1,624,745 1,028,530
981.977
10,511,900 4,222,500
56,782,729
83,164
20,890
18,347
205,600
154,817
3,894,709
1,000
4,320,531
250,000
500,000
62,415
28,239
29,266
197,950
108,150
1,953,686
148,319
2,443,224
145,000
300,000
52,000
65,524
45,676
440,730
64,303
3,409,537
3,000
4,246,838
400,000
528,000
568,039
121,426
250,222
635,070
28,820,988 1,698,231
727,224
31,345,139
4,845,000 2,509,951
109,052
59,182
96,887
282,990
558,032
11,572,548
280,886
12,875,098
992,200
1,685,000
617,011
241,081
282,3:38
822,300
158,980 ,20,602,703 1,586,267
38,588,473
6,517,800 2,876,800
367,383 1,036,249
135,821
27,311,607 3,551,127 2,228,160
38,626,002 1,190,878
3,250,000 2,650,000
59,048
42,348
62,285
482,510
301,165
4,165,458
80,701
8,639,872
370,000
500,000
104,084
87,308
101,457
353,600
384,428
10,372,488
288,357
12,202,686
835,000
2,070,000
607,835
399,306
540,952
862,400
691,231
20,525,585
367,844
37,527,035
8,095,000 2,512,227
77,628
46,114
122,894
172,220
76,175
3,168,898
149,507
3,744,394
192,000
700,000
136,133
127,568
294,230
439,050
303,580
6,080,155
253,000
6,380,011
1,350,000
221,000
3,024,856
3,577,031
8,113,138
11,391,730
10,373,146
351,657,383
05,994,200 27,642,130 392,865,463 6,020,143
105,547
52,904
271,045
240,310
20,907,188 1,641,445
284,288
26,170,551
4,075,000 1,988,839
200,898
20,156
337,517
175,000
25,451,209 5,784,758
30,610,548 1,785,189
3,700,000 1,272,000
69,605
125,068
161,399
316,840
14,319,806 1,880,612
151,553
15,653,094
775,000
3,400,000
24,948
2,592
82,209
47,910
5,308,149 1,034,110
225,000
6,515,355
500,000
860,000
62,338
67,804
224,510
185,870
18,801,782 2,263,497
99,755
25,499,097
3,911,000 1,874,165
178,154
26,516
184,542
39,070
17,424,538 5,931,070
20,413,134 1,176,738
3,250,000 • 1,410,000
218,0411
146,740
677,552
543,560
75,990,325 6,124,656
372,877
88,691,664
16,512,050 0,723,847
622,896
43,463
332,204
293,440
85,954,888 4,812,818
303,517
34,702,816
5,600,000 2,49:3,000
79,039
43,039
516,070
543,235 102,648,701 14,499,968 2,865,100
83,218,852
27,750,000 15,857,250
100,916
70,977
127,319
217,430
14,108,225 1,058.483
240,784
17,112,856
2,690,100 1,299,710
32,470
14,639
62 740
66,938
390,122
5,750,278
142,002
6,372,097
376,177
1,030,000
48,200
17,544
151,621
412 720
907 735
7,693,919
288,616
8,737,281
880,000
1,750,000
31,136
6,636
42,407
29 810
393,100
5,195,658
51,820
5,698 724
470,401
1,742,000
97,261
38,313
63,019
129 360
5,019,716
186,103
325,718
6,510 517
642,000
1,030,000
20,440
22,380
11,821
46,340
484,964
299,364
112,730
020,444
35,000
100,000
942
........=
4
1
Facia° States
Ha5vail (Nov. 10 1910)
Porto Rico
Totals
3
1,191,252
504,998
410,993
2,356,119
6,448,827
902,077
1,754,356
s
33,483,232
17,962,285
17,674,590
128,211,644
181,632,532
30,226,672
65,077,616
1,624 334,338,856 330,076,726 1,853,952,299 8,873,971 2,017,010,539 91,120,410 155,070,930 7,264,407 64,505,023 77,676,046
960,339 1,893,325
87,767,240 1,640,182 1,110,3,10
469,400
75,097,022 1,538,248
16,393,500 10,614,331
128
770,074
530,890
43,307,796 1,147,931
245,863
800,350
412,986
44,238,694
9,169,135 5,133,134
108
691,699
305,290
33,364,754
230,358
349,465
527,238
385,570
26,170,609
8,320,000 2,200,363
75
503,349
22,271,432
276,089
258,580
221,818
185,509
215,888
19,402,891
5,230,390 1,639,600
41
1,630,081
722,871
622,255
688,270
455,329
50,041,923
463,231
96,774,451
12,676,500 6,710,396
113
12,000
57,453
7,717
2,757,821
31,385
67,500
191,783
1,147,964
500,000
750,000
2
616,488
29,459,564
319,184
332,543
476,800
433,892
461,739
28,292,302
5,855,000 2,344,300
44
548,741 1,197,800
491,003
395,709
31.396,043
292,511
675,151
35,865,190
9,280,000 4,053,270
79
170,640
488,730
269,003
127,276
11,500,530
130,674
53,109
14,155,412
3,415,000 1,408,579
32
225,190
533,450
244,085
178,067
215,530
15,885,545
7,000
15,398,382
2,905.000 2,082,068
26
54,855
232,244 1,713,020
424,047
328,365
22,266,496
245,257
18,581,244
5,200,000 2,080,000
5
474,337
107,348,546 2,474,441 2,676,610 1,58.1,127 1,172,440 2,481,738
116,116,097
15,593,881
31,841,000
482
504,300
552,332
257,144
1,082,920
293,068
15,944,749
179,514
16,142,447
2,650,000 1,850,000
4
121,041
180,000
628,920
00,307
219,070
9,754,621
2,000
7,932,487
2,175,000 1,875,000
7
90,710
106,990
143,750
173,620
92,785
3,714,103
50,946
3,054,628
275,000
3
625,000
381,256
613,565
242,165
641,093 1,837,030
22,358,452
52,000
19,283,077
3,600,000 1,390,000
6
272,270
209,876
182,721
673,740
332,190
7,905,054
272,973
9,028,170
080,000
2,100,000
6
168,850
27,170
126,171
203.290
137,757
5,578,385
40,002
4,985 750
547,000
1,300,000
6
465,855
265,683
283,989
470,450
311,064
78,020
17,210,826
3 5
15,902,0
4,155,000 1,701,710
45
530,721
280,117
270,332
894,480
845,372
42,611,833
737,684
30,023,233
12,103,360 4,610,291
140
596,132
343,509
74,100
1,433,710
269,975
23,108,257
17,870,396 1,091,874
5,495,000 2,685,000
8
1,537,623
633,709
427,208
747,932
56,299,860 1,179,428 1,323,260
53,210,517
99
11,620,000 4,749,802
1,457 158,758,885 70,622,723 827,748,007 8,145,081 862,251,831 12,102,596 18,675,580 6,697,055 8,612,738 15,489,713
Eastern States
11
s
s
$
72
58
51
170
20
22
79
$
$
8 2,680 2,83 5,443
2 278 483 701
1 390 494 884
_ 108 137 245
3 722 629 1,351
45
28
17
17 1 380 133 513
51 155
1 -- 101
112
68 168
1
4
196
69 255
3
103
21
14
5
45
9 12 74 20 82 37 66 212 177 4,987 4,855 9,820
21
4 1
17
4
18
2
97 2 17 3
73 4 32 4
1 1
1
1 4
1 4
1 3
2 16
7 47
3
3 2
1 4 2 5
8 13
5
11 5 21 35
1
1
2
28
21
20
50
89
2 425 582 1,007
1 444 441 885
2 241 443 684
3 1,725 266 1,091
9 2,091 3,069 5.100
93
52
41
4,967 4,853 9.820
1,516 53 31 402 260 108 40 5 43 52 47 26 45 114 95 33 56 491 54 67 78 47 15 19 108 17 227 9 60 9 12 74 20 82 37 66 212 17
FEB. 18 1911.1
THE CHRONICLE
Alatxtlers' Gazette.
Wall Street, Friday Night, Feb. 17 1911.
The Money Market and Financial Situation.-Security
values have declined this week notwithstanding the fact
that nearly all the developments which would logically
affect the markets have been favorable. Prominent among
the latter have been the international trade statement given
out by the Bureau of Statistics, which shows for the month
of January a very large balance in our favor, a reduction of
the Bank of England's discount rate from 4 to 332% and a
change in management of the Missouri Pacific Railway
which it is thought will prove beneficial to that system and
perhaps to others. None of these influences has served to
check the decline referred to, which was perhaps due to
follow the rather conspicuous advance which was recorded
last month.
The trade balance mentioned is the largest, with two or
three exceptions,for the corresponding month in the history
of the country, and brings the total for the period since the
balance has been running in our favor up to a very satisfactory figure. The January results have been made possible by an increase in exports of cotton at unusually high
prices and a larger tonnage of manufactured goods than
usual. A lower minimum rate by the Bank of England had
been foreshadowed by easy conditions in the open London
market, as well as on the Continent, and the announcement
of official action had no perceptible effect in this market.
The local money market is practically unchanged. Rates
here and abroad are, as is well known, such as to facilitate
the negotiations of new, short-term, railway loans and at
least two such have been reported this week, viz.: by New
York Central, $30,000,000,and by Baltimore & Ohio,$10,000,000. The latter is, however, part of an issue authorized
some time ago but not put out until now.
The open market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals has ranged
from 2 to 23/2%. To-day's rates on ball were 2@2%%.
Commercial paper quoted at 4@43/2% for 60 to 90-day endorsements 4@,4%% for prime 4 to 6 months' single names
and 4%@5%0 for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £158,976 and the percentage
of reserve to liabilities was 52.72, against 53.22 last week.
The rate of discount was reduced Feb. 16 from 4% as
fixed Jan. 26 to 33/2%. The Bank of France shows an increase of 1,975,000 francs gold and 2,450,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1911.
Averages for
week ending
Feb. 11.
I
1910.
Differences
Averagesfor
from
week ending
previous week. I Feb. 11.
1909.
Averages for
week ending
Feb. 13.
Capital
133,350,000
128,350,000 126,350,000
Surplus
196,761,500
182,627,500 165,447,000
Loans and discounts_ _ _ 1,315,317,200 Inc. 6,724,500 1,223,367,600 1,326,315,400
Circulation
46,604,900 Dec.
454,200
50,510,000
98,932,300
Net deposits
1,351,398,000 Inc. 10,335,800 1,235,416,600 1,378,413,600
U. S. dep.(Inel. above)
1,669,200 Dec.
12,600
1,704,300
3,210,100
Specie
300,224,700 Inc. 2,640,600 264,976,700 273,893,100
Legal tenders_
73,981,400 Inc.
666,100
68,050,500
80,208,100
Reserve held
374,206,100 Inc. 3,315,700 333,027,200 354,101,200
25% of deposits
337,849,500 Inc. 2,583,950 308,854,150 344,603,900
441
The following are the rates for domestic exchange at the
under-mentioned cities at the clpse of the week: Chicago,
10c. per $1,000 premium. Boston, 10c. per $1,000 discount.
New Orleans, commercial, 50c. per $1,000 discount; bank,
$1 per $1,000 premium. Charleston, buying, par; selling,
1-10c. per $1,000 premium. San Francisco, 90c. per $1,000
premium. St. Louis, 15c. per $1,000 premium. Montreal,
par.
State and Railroad Bonds.-Sales of State bonds at the
Board are limited to $24,000 Virginia
deferred trust
receipts, and $1,000 New York Canal 4s 6s,
at 104%.
The market for railway and industrial issues has been
somewhat more active than last week and generally steady.
Net changes exceeding % point are exceptional and like
others are about equally divided between higher and lower.
United States Bonds.-Sales of Government bonds at the
Board include $5,000 4s, coup., at 1167/8; $3,000 2s, coup.,
at 1013%, and $2,000 2s, reg., at 13%. The following are the
daily closing quotations; for yearly range see third page following.
Interest Feb. Feb. Feb. Feb. Feb. Feb.
Periods
11
13
14
15
16
17
registered Q-Jan *1005%
28, 1930
H *1005% 1015% *101 *101
2s, 1930
coupon Q-Jan *1005%
o gook roih *ioi *101
3s, 1908-18
registered Q-Feb *1025%
L
*1025 *1025% •1025% •1025%
Is, 1908-18
coupon Q-Feb *1025%
I
*1025% *1025% *1025% *102%
registered Q-Feb *116
4s, 1925
D •116 *116 *116 *116
4s, 1925
coupon Q-Feb *116
A
•116 *116 *116
1165%
2s, 1936_Panama Canal regis,Q-Feb *1005%
Y *1005% *100% p1005% *1004
I
•Thls is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.-The stock market,
which had previously been steady, developed decided weakness on Thursday, when practically the entire list declined
an average of between 1 and 2 points. To-day's market
has, however been firmer and in most cases a part of Thursday's decline'
has been recovered.
The Canadian Pacific and collateral lines have been exceptionally strong, the "Soo Line" common closing 53/
g
points higher than last week and Duluth S. S. & Atlantic
preferred 13
% higher. Missouri Pacific was active on a demand which carried it up over 6 points. A large part of
this was dropped, however, on the announcement of a
change of management. Great Northern and Northern
Pacific have been relatively strong, on the theory that
Canadian reciprocity would result in increased traffic, and
Northern Pacific and Denver &Rio Grande are the only issues,
not mentioned above, which close higher than last week.
Among the stocks which have been conspicuously weak
are Lehigh Valley, Reading, New York Central, St. Paul,
Southern Pacific and some of the industrial issues, which
are down an average of about 2 points.
For daily volume of business see page 449.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Feb. 17.
Sales
for
Week.
Rangefor Week.
Lowest.
I
Batopilas Mining
100 $25% Feb 17 $25% Feb
100 26c. Feb ill 26c. Feb
Comstock Tunnel
156 835% Feb 14 84 Feb
E I duPont Powd, pref
General Chemical
1,011 120 Feb 14l35 Feb
Preferred
2751055% Feb 151055% Feb
Homestake Mining
130 845% Feb 15 845% Feb
Surplus reserve
36,356,600 Inc.
731,750
24,173,050
9,497,800 Lackawanna Steel
200 38 Feb 16 38 Feb
New York Dock
100 25 Feb 16 25 Feb
Surplus, excl. U.S. dep
36,773,900 Inc.
728,600
24,599,125
10,300,325 Phelps, Dodge & Co-- - 40 220 Feb 17 220 Feb
St Jos &0Isld, 1st pref.
100 55 Feb 15 55 Feb
Note.-'I be Clearing House now Imes a statement weekly showing the actua St L & S F-13 & E Ills
condition of the banks on Saturday morning as well as the above averages. These
corn stk trust certfs
100 195 Feb 16 145 Feb
New stock trust certfs
figures, together with the returns of the separate banks, also the summary issued by
25! 61 Feb 17 61 Feb
the State Banking Department, giving the condition of State banks and trust com- So Porto Rico Bug, pref.
9012 Feb 17 112 Feb
panies not reporting to the Clearing House, appear on the second page preceding.
Foreign Exchange.-1his forenoon sterling advanced to
the highest point of the week, and, though rates subsequently dropped a little, the undertone was very strong.
To-day's (Friday's) nominal Orates for sterling exchange
were 4 84 for 60-day and 4 87 for sight. To-day's actual
rates for sterling exchange were 4 8340@4 8350 for 60 days,
4 86200.4 8625 for cheques and 4 863/2@4 8660 for cables.
Commercial on banks 4 82%@4 83 and documents for payment 4 833@4 833/2. Cotton for payment 4 83@4 833
and grain for payment 4 833(4)4 833/2.
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 213 less 1-16@5 213' for long and 5 199/i less 5-64@
/i less 3-64 for short. Germany bankers marks were
5 193
94 9-16@94/ for long and 95 1-16 less 1-32@95 1-16 for
short. Amsterdam bankers' guilders were 403 less 1-16@
403 less 1-32 for short.
The posted rates for sterling as quoted by a representative
house were 484 for 60 days and 4 87 for sight on each day.
Exchange at Paris on London, 25f. 273c.; week's range,
25f. 29c. high and 25f. 263/2c. low.
Exchange at Berlin on London, 20m. 47pf.; week's range,
20m. 48pf. high and 20m. 463/2pf. low.
The range of foreign exchange for the week follows:
Sterling, ActualSixty Days.
High for the week
4 84
Low for the week
4 8340
Parts Bankers' FrancsHigh for the week
5 213
Low for the week
5 21%
Germany Bankers' Marks5
High for the week
94%
Low for the week
94 9-16
Amsterdam Bankers' GuildersHigh for the week
40 10
Low for the week
40 06
Cheques.
4 8635
4 86
Cables.
4 8665
4 8630
5 193 less 3-64 5 19%
5 19% less 5-64
5 20
95 1-16 less 1-32 955% less 1-32
95 1-16 less 1-32
95 less 1-32
40 24
40 19
40 28
40 23
Range since Jan. L.
Highest.
Lowest.
Highest.
17 12
11 22c.
16 82
16 100
15 1035%
15 845%
16 38
16 25
17 220
15 50
JanI 325%
Jani 26c.
Janl 84
Jan 135
Jan 106
Feb 855%
Feb 40
Feb 25
Feb 220
Jan 55
Jan
Feb
Feb
Feb
Jan
Jan
Feb
Feb
Feb
Feb
16 145
17 59
17 110
Feb 145
Febl 61
Feb 113
Feb
Feb
Jan
Outside Market.-Trading in "curb" securities has been
especially dull this week and price changes without significance. There has been a good market in bonds, of
which Western Pacific 5s were a feature. After a drop from
933% to 927
/
8, the price jumped to 933
%and to-day to 9534.
The new Kansas City Southern 5s, "w. i.," were heavily
traded in between 1015
% and 10134. Southern Bell Telep.
5s weakened from 973/i to 96% and recovered finally to 97.
Texas Co. 6s, "w. i.," rose from 102% to 1033% and sold at
103 finally. Among miscellaneous stocks American Tobacco went down from 440 to 435 and up to 437. Intercontinental Rubber was comparatively active and declined
from 333/2 to 3134, with a recovery to 31%. Standard Oil
gained 8 points to 639, fell to 63534 and recovered to 637.
The usual dividend of $15 per share was declared. United
Cigar Mfrs. corn. sold up from 693/2 to 70 and down to 68.
Pennsylvania "rights" were traded in down from 23% to
2 9-32 and up to 2 5-16. In the mining list price movements
either way were narrow. British Columbia sold up from
63% to 67/8, down to 634 and at 6% finally. Butte Coalition
improved from 183% to 19. Chino Copper rose from 22 to
223
%,weakened to 213% and was traded in to-day up to 21%.
Giroux moved up from 6 9-16 to 63
% and back to 6 9-16.
Greene Cananea 'declined from 6 5-16 to 63%, advanced to
63/2 and reacted to 634. Inspiration Copper was off from
sN to 7%, but recovered to 8. Miami Copper weakened
from 203
% to 20. Ray Consolidated, after an early advance
from 17% to 18,yielded to 17. Kerr Lake weakened from
73 to 6 15-16. Nipissing went down from 11 to 10% and
up to 11 7-16.
Outside quotations will be found on page 449.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPYING TWO PAGES
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
Feb. 11
• 10634 107
10212 10212
12312 12312
I 10578 106
' *88
9912
7858
78
21112 21231
7214
*62
*272 280
8558 0613
34
*25
60
*52
2334 2334
• *4712 4812
12734 12838
*160 15112
. 14812 14858
*203 210
*135 145
*150 160
; *3
314
*7
8
*62
6412
*9712 100 ,
*5812 59
,• *7612 77
: 37333 7338
9 17012 17058
*510 520
3314
*33
, *7112 7212
*71
_
; 1358 14
2478 26
8134 32
5012 51
*3834 3914
12918 12914
: 6212 6212
15
*14
9512 9512
*___ 96
*123 134
13634 13634
2018 2014
5412 5513
1914 1914
*3234 3314
7712
*74
3412 3434
*6618 6712
: *16
20
• *37
42
178 17812
*61
66
14712 14712
*13958 140
30
30
54
, *46
'13812 14014
150 150
*8934 9014
36
" 36
*6618 6738
5658 5738
*14213 147
7034 7034
3634 3678
113 11314
*61
6312
*10113 107
*87
93
14978 14978
*14712 148
43
43
10634
1067*42 4312
12614 12634
*100 105
*90 102
*100 105
12738 12734
0834
1 , *97
t *100 112
. 15978 16034
• 8934 8934
*9712 9012
3238 3258
6312
*63
69
*66
43
43
*3314 3334
6714 6714
11912 11934
- 2818 2838
6518
65
291 29313
*1014 11
*734 812
2414 2438
5314 5338
*109 11034
fi973-4
49328
47
• *7312
1634
"- 33718
61
*76
*5
-*14
*7
63
Tuesday
Feb. 14
Monday
Feb. 13
04
4714
75
1634
3718
5114
7612
563
1614
8
63
Wednesday
Feb. 15
Thursdam
Feb. 16.
Friday
Feb. 17.
Sales of
the
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Range since January 1.
On basis of 100-share lots.
Lowest.
Highest.
Range for Previous
Year 1910.
Lowest.
Highest.
9034 J'ly 12413 Jan
10634 10714 10658 10678 10478 10334 105 10578 24,400 A tch Topeka & Santa Fe 10013 Jan 3 108 Feb 8
10278 103
10234 10234
10034 Jan 3 10318 Jan 27 297 J'ly 10414 Jan
614 LA. Do pre
10234 10234 *10214 103
122 12234 12112 122
700 Atlantic Coast Line R it. _ 117 Jan 3 124 Feb 7 10212 J'ly 13712 Jan
*12234 124 *12212 124
10414 10434 2,400 Qa1tImore & Ohio
104/4 Feb 17 10912 Jan 31 10014 Sep 1191 Jan
10512 10534 105 10514 10412 105
8912 *88
8934 *88
89,3 Feb 3 91 Jan 4
LI Do pret
94 Jan
*88
9912 *88
8912
8714 Sep
6812 Feb
8231 May
7812 7834 7713 7814 7712 7814 17,375 Brooklyn Rapid Trans.t_
7478 Jan 3 7913 Feb 6
7858 79
15,456 / ianadian Pacifi21234 21334 21214 21234 21014 21212 21014 212
19558 Jan 3 21334 Feb 14 174,, Feb 20233 Nov
6(62 J'ly
'10 Jan
7214 *62
7214 *62
*62
65 Jan 10 65 Jan 10
x.ianada Southern
7214 *62
7214
Central of New Jersey..
8272 280 *270 281 *270 280 *270 280
27014 Jan 9 275 Feb 10 248 J'ly 312 Jan
65 Aug
92 Jan
8538 8333 8538 8578 8338 8314 83
8018 Jan 3 8634 Feb 8
8478 38,100 Chesapeake & Ohio
6634Jan
*25
3334 *25
34
34
Chicago & Alton it It
34
2378 J'ly
*25
*25
30 Jan 9 30 Jan 9
*52
60 *50
Do prct
60
6478 Jr'ne
69 Apr
58
60
*52
*52
522 Jan 30 53 Jan 19
3678 Jon
23
19 J'iy
550 Chic Gt Wes, trust ctts
2333 2338 2312 2312 2234 2234 423
2118 Jan 3 2438 Feb 6
4612 4613
46
46
6418 Jan
48
300 Do pre trust ars
40 J'iy
4778 4778 *46
45 Jan 9 4914 Feb 6
12478 12638 21.900 Chicago 1%.111w & St Pau,.._ 123 Jan 3 13312 Feb 7 11334 J'ne 11838 Jan
128 12858 12734 12832 125 128
150 150
100 Do pret
147 Jan 3 15513 Feb 2 143 Sep 17214 Jan
*150 151 *148 151 *14812 151
14714 14712 14712 14712 1,000 Chicago & North 1Yestern 14212 Jan 16 150 Feb 1 13714 J'ly' 18212 Jan
14812 14812 148 148
Do pret
§200 Jan 4 §209 Jan 7 203J'ne 225 Jan
*201 210 *201 210 *201 210 *201 210
Chic St P Minn & Omaha 13712 Jan 11 13712 Jan 11 140 Apr 16212 Feb
*135 145 *135 145 *135 195 *135 145
Do prat
3160 Apr “7014 Feb
*150 160 *150 160 *150 130 *150 160
314
*3
314
314 *3
234 Jan 20
bas Jan
100 Chic tin Trac ctts stinpd
218 Dec
338 Feb 4
314 314 *3
8
Do prat ea's stmpd___
*6
8
714 Feb 6
1214 Jan
678 Feb 4
*7
712 *634 734 *6
478 Sep
65
65
65
62 Feb 14 66 Jan 18
1.200 Cleve Cln Chic & St
6412 64
62
62 *61
9214 Moil
61 Nov
Do pret
49738 Jan 11 98 Feb 1
*9713 100
*9712 100 *9712 100 .111712 100
99 Seri 104 Jan
5712 5614 57
5614 Feb 11 60 Jan 18
1,525 Colorado & Southeru
57
5718 5718 5712 57
46 J'ly
6534 Feb
75 Jan 11 77 Jan 24
70 J'iy
77
100 Do 1zt preferred
7612 7612 *76
83 Moh
*7612 77
*7612 77
7312 Jan 11 7312 Jan 11
75 Do 291 preferred
81 Jan
175
75 *7313 77 *7312 77 *7312 77
70 Aug
elaware & fl udson__ _ 16414 Jan 3 172 Feb 3 14914 J'iy 185 Jan
*17014 17114 17113 17118 170 17078 *16334 17034 1,300
510
Feb
eAware
9
Lack
lt
West..
510
54212
Jan
11
J'ly
200
510
320 Mch
490
*510 620 *510 520 *510 520
2814 Jan 3 35 Feb 15
52 Jan
234 J'iy
3338 3412 3334 3334 7,185 Denver & Rio Grande.__
3312 3438 3414 35
68 Jan 5 7312 Feb 6
Do pre
7212 2,800
84 Jan
6258 J'ly
7258 7318 7218 7318 *71
7218 73
6734 Jan 7 74 Feb 7
Detroit United
45 J'13, 68 Dec
*6934 73
74
*71
74
*71
74
11 Jan 6 1514 Feb 14
41212 1412
10 J'ly
975 Duluth So Shore & Atlan
1834 Jan
1434 1514 1453 1458 *1312 14
22 Jan 6 2734 Feb 14
Do pret
2618 2614 4,225
17 OW
3458 Jan
2678 2734 2612 274 2512 26
2714 Jan 11 3258 Feb 15
34 Jan
1913 J ly
3134 65,210 Irie
3112 3218 3138 3258 3112 3258 31
4558 Jan 12 5112 Fero 16
5113 4914 6O3 12,050 ,VA Do 1st pret
35 J'iY
5234 Moll
5034 5118 5012 5138 50
Do 2d peer
35 Jan 9 4018 Feo 15
2814 XIY
42 Mch
4018 3938 3913 3978 3978 4,300
39
3958 39
2123 Jan 12 13112 Feb 1 118 J'iy 14378 Jan
129 12934 12912 13038 12734 13018 12734 12812 18,450 Great Northern pret
56 Jan 5 6334 Feb 2
45 J'ly
8012 Jan .
6312 6234 6314 6134 6278 61
63
6214 5,510 Iron Ore properties
1818 Mai
1478 14
14
IL Aug
1478 *14
25 Green Bay & W, deb ett13 1334 Jan 4 1514 Jan 17
1434 15 *14
avaria Electric
_
9512 Feb 11 96 Feb 17
96
1812 Jan
96
210
071.: Apr
Do pret
9334 Jan 12 95 Jan 10
95
- 95
100
*___ 96
92 May 99 Jan
Hocking Valley
*123 134 *123 134 *123 134 *123 134
112 one 190 Oct
132 Jan 3 13713 Jan 30 124 erly 147 Jan
13614 13638 136 13612 135 136 ,P135 13512 1.250 ilinois Central
1838 Jan 23 2038 Feb 10
1914 J'iy
2014 2038 1978 2038 1912 20
2512 Jan
1938 1912 7,465 nterboro-Metropolltan _
Do pret
5058 Jan 23 5538 Jan 4
3278 Jan
5412 55
5418 5518 5312 5412 5313 5418 11,850
4112 XIY
18 Jan 3 1978 Feb 3
15 J'ne
30 Jan
1914 1938 1938 1938 *1812 19
*18
19
600 Iowa Central
3178 Jan 9 3358 Jan 17
5414 Jan
3234 33 *3234 3313 *3212 33
25 J'iy
400 Do pret
*32
33
170 St S do M tr cfs, pret
80 Feb
68 Aug
*74
7712 *74
7712 *74
7712
4414 Jan
23 J'1Y
3,150 XVansas City Southern.... 32 Jan 3 3514 Feb 14
34
3412 34
3478 3514 3458 3458 34
Do pret
6412 Jan 3 6712 Feb 14
71 Jan
b3 Aug
300
6712 67
67 *6558 6712
6714 6712 *67
1614 Feb 1
15 J'ne
2534Jan
I ake Erie & %Ye:tern
20
*17
20
*17
20
*17
20 *17
1-4 Do pret
3714 Dec
6234 Jan
39 Jan 23 4
10
614 J
iCt
en
b 13
1
*37
45
*37
45
45
*37
*38
45
17434 Jan 3 18118 Feb 3 17314 Dec 1813 Nov
45.875 Lehigh Valley
17714 17838 17738 17734 17458 17714 17458 176
Long island
6014 Feb 4 63 Jan 16
66
*60
65
*61
60 J'1Y
7014 Apr
65
65 *61
*61
14212 Jan 25 14834 Jan 18 13112 J'1Y 15934 Jan
14434 14514 1.600 Louisville do Nashville
14718 14718 14634 14718 145 146
anhattan Elevated.._ _ 13734 Jan 81 141 Jan 6 123 J'ne 146 Oct
13934 13934 *139 140
460
*13912 140 *139 140
tVlinneapolis
&
St
2514
Louis
Jan 7 31 Feb 15
2918 2914 29
5334 Jan
31
23
30
30
2918 1,310
30
Do pret
50 Feb 14 50 Feb 14
*45
54
*46
54
*46
54
40 set)
80 Feb
50
350
14112 14212 14114 14312 142 14414 18,150 Minn St P & S S Marie_ _ 13218 Jan 4 14414 Feb 17 114 J'1Y 145 Moh
14058 142
6
Do
pref
Jan
14734
153 Feb 15 144 J'ne 15512 Mch
600
153 153 *151 154
151 15178 15212 153
8934 Jan 18 9018 Feb 16 28614 Sep
400 Do leased One etis
9234 Jan
*8934 9014 *8934 9014 9018 9018 *8934 904
3112 Jan 3 3638 Feb 8
3618 34
3478 5,600 Mo Kansas & Texas
3534 34
5118 Jan
27 J'1Y
2558 8614 3558 673
Do
pref
6312
Jan
16
57 J'17
300
6714 6714
6714 Feb 9
67
7458 Jan
8 67
*6612 6738 *67
4534 Jan 11 63 Feo 15
41 J.„,117
5714 6013 5614 5814 167.350 Missouri Pacific
73% May
5912 63
5718 60
kfash Chatt & St Louis_ 14014 Jan 19 143 Fob 2 125 .1 11' 140 Nov
*14212 147 *14212 147 *14212 148 *14218 148
60 Feb
800 LI at Rys of Mex 1st pret 70 Jan 5 7238 Jan 26
7112 *71
7112
7238 Nov
72 *70
7012 71
*70
•
Do 291 pref
3412 Jan 3 3838 Feb 15
3712 Nov
2312 J'ly
13,300
361,2 3612 3758 3838 3778 3814 3712 38
113 11312 11234 11318 11034 11234 11012 11112 16,250 N Y Central & Hudson_ 10914 Jan 16 11512 Feb 3 10518 J'1Y 128 Mch
N Y Chic & St Louis
6212 Feb 6 65 Jan 19
6212 *61
6212
5512 May
6212 *31
6878 Nov
6312 *61
*61
Do 1st pret
4101 J'17 10934 Jan
*10112 107 *10112 109 *10112 109 *10112 109
Do 291 pre!
90 Jan 27 90 Jan 27
93
*87
*87
93
8234 Apr
93
08 Jan
*87
93
*87
149 Apr 162 Mch
14812Jan 23 151 Jan
150 15013 150 15014 15018 15014 150 1504 3,510 N F N 11 & Hartford
14814 14838
500 Subscription receipts y_.. 146 Jan 17 14838 Feb 17 h183
14778 14778 *14734 149
*14712 148
48
3
81122 JJA: sr h151 Mch
Mche
4338 4234 4278 4258 4338 3,600 N Y Ontario & Westein. 4078Jan 11 444 Feb 6
4314 4338 43
50 Jan
Au'
10014 Jan 3 10812 Jan 18
10634 1074 10612 10834 10514 10358 10538 10578 7,900 Norfolk & Western
10818
...... Do adjustment prat
90 Jan 5 9012 Jan 18
88 Feb
9114 Mch
Northern Ohio Trac & Lt 3912 Jan 3 42 Feb 9
4
4 *4234 111
85 Feb
i;42
12 7314018 Deo
4-4;
3143 65.090 -Northern Pacific
116 Jan 3 12834 Feb 1 11112 Aug 145.3Jan
12612 12714 12638 12838 1257.8 12335 125122 ;2
pacific Coast Co
10) Jan 11 102 Jan 10 100 Oct 11834 Jan
*100 106 *100 106 *100 103 *100 108
L
*90 110
Do 1st pret
*90 110
*90 110
*90 110
Do 291 pre!
101 Jan 11 102 Jan 11 105 Feb 118 Jan
*100 107 *100 106 *100 107 3100 106
12634 12712 12634 12718 17,310 Pennsylvania
12534 Jan 12 1301,3 Feb 2 12212 J'iy 13813 Mch
12712 12734 12714 128
*90
9812
9518
9618 *9638 98
340 PiWb an- Chic & St L.... 9618 Feb 16 100 Jan 17
98
89 J'11 10458Mch
98
112 112
112 Feb 17 112 Feb 17 110 Oct 116 Mch
100 Do pref
*100 112 *100 112 *100 112
160
15018 Jan 3 16134 Feb 7 x13058 J'ly 17
15614 158 377,200
0214
312 Feb
1,
15912 16038
15934 161
__..
-*90
91
*___ 90 *8934 91
89 Jan 7 91 Feb 3 85Feb
100
J'iy
2d pre'
1
5,358--4 98*96
-963
94 Jan 5 99 Feb 6
99
99
700
9712 9712 *97
J'ly
1
2958 Jan 7 3378 Feb
2273
5714 Jan
20,000 Rock Island Company
3212 3314 3212 3234 3158 3258 3118 32
54 J'iy
6118 62
6078 6112 1,700 Do pref
60 Jan 3 6512 Feb 1
6358 64
6312 64
L 6: San Fr,1st pret
*68
69
69
*64
58 Aug
62 Jan 10 68 Feb 6
73 Jan
67
466
69
*68
4212 43
3812 Jan 3 44 Feb 6
4214 4258 1,400 1.7 Do 2d prat
4314 4314 4258 43
24 Jan 13 34 Feb 4
Jan
3312 *3212 3353 32
3213
800 St Louis Southwestern
3312 3334 *32
5934 Jan 3 68 Jan 31
68
900 Do pref
6634 677s *6714 68 . 6734 6734 *67
211414 Jan 3 12114 Feb 2 :
138
5
0
43
841114
11958 12014 11912 12018 11712 11913 11714 11818 29,272 Southern Pacific Co
2: j
J;
:
111
2911738
7
3
81
2:0
5
8
:1
34233
2812 2712 28
2718 2712 12,500 Southern v tr cfs stmpd_
264 Jan 11 29 Feb 7
18 J'1Y
3334 Janr
2838 2878 28
Do pret
do
6558 64
6114 Jan 11 6634 Feb 7
6534 657s 6538 6558 64
6434 3,650
3
16
03
2814 2938 28
9,21 JanJa
2512 Jam 3 3018 Feb 14
2 J 1nYe
22
512
2812 12,800 Texas & Pacific
2914 3018 2914 30
958 Feb 16 12 Jan 5
938 1014 *912 1012 1,000 I_ bird Avenue (N Y)
Jan
*1014 11
*1014 11
1534 Jan
512 J'ly
8 Jan 3
812 Jan 17
200 coledo Railways So Light
8
8
*734 812
8
8
*734 812
5433 Jan
22 Jan 25 2434 Feb 8
23
1,900 foledo St L do Western_
2418 2234 2434 23
24
19 J'iy
2412 24
Do 1p:rat
12
11
721 Jan
5338 5214 53
1,400
4234 J'1Y
5338 5338 5314 5338 52
rwlia City Rapid Transit 10
Jan
58
0 j
n
15
13
178 j
Faen
b 5
2 103 rlY 11712 Jan
810934 11034 *10958 111 *10939 11012 *109 11018
Do pret
145 Jan 145 Feb
Pacific
16934 Jan 3 1684114 FebFeb 66 15214 J'ly 20434 Jan
17914 1798 1763 17913 17653 17839 174.075 nion
Do pret
9212 Jan 11
800
8814 J'iy 10334 Jan
9334 9334 9334 9378 9312 9378
4
58
2:
1.700 Unit Rys Inv't of San Fr 3158 Jan 3 48 Feb 7
46
1-89
4363-444 4812 4612 45
ne
7
42
2314
*45
46
2
43
734 J:n
8J
3an
b
Do pret
6034 Jan 3 7512 Feb 8
300
7113 7113 *7013 72
74
74
*72
74
abash
1512 Jan 6 1712 Feb 15
17
1738 1713 1713 1612 1634 1614 1612 3,602
2734 Jan
1258 J'iy
Do prat
3278 Jan 11 3918 Feb 14
2818, fly
61 Jan
374 3918 3712 3878 3578 3734 3578 3634 20,952
50 Jan 3 5134 Feb 1
5112 51
5438Mch
51
5034 51
51
5038 5012 1.700 West Maryland Ry
40 J'ly
Do pret
7614 7614 76
75 Jan 14 77 Jan 6
300
7634
77 Dec
7634 *76
67 Aug
76
*76
1,200 Wheeling & Lake Erie
414 Jan 27
3 Apr
10 Jan
*5
6
614 Feb 3
6
*512 6
6
534 6
900 Do 1st pref
1212 Jan 11 1758 Feb 3
16
8 J'ne
23 Jan
1612 *14
14
1518 1512 1614 *15
600 Do 2d pref
5 Jan 5
1312 Jan
4 J'ne
8 Feb 7
714 712
778 778
734 734
734 778
1.000 Wisconsin Central
57 Jan 3 64 Feb 14
61
8314 6314 61
6312 64
44 J'iy
64 Nov
65
*62
D
H
I
Realsfigpret
U
i461
W
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS.
Banks • Bid I Ask
Ask
Bid
Ask
Banks
Bid
Bid
Banks
Banks
Ask
Banks
Bid
Banks
Ask
Chatham .., 350 355 I Filth
300 350 Irving N Ex 205 215 Mutual I.._ 285
New York
295 Prod Each Ti
Chelsea
Jelfersonli_
Exli 190
145
155 Nassau___ 260
175 I 180
Aetna
850 875
200 I First
_ Reserve _ Liberty__ 600 62,5
New Neth'd 210
America 'I.... 600 610 Chemical
150 155
430 19th St11
220 Seaboard-__
119612 1199 Lincoln__ 400 425
Amer Exch.. 2371 2421, Citizens' Cu 155 158 I Fourth
NewYoricCo 925_ __ Second ..___
393 4021 Gallatin
___ New York_ 30712 31-5 Sherman___
115 City
330 350 Nianhattau6 325
Audubon
100
N.Eark't& Fut 250 260 N'ht &Dayll 250
305
295
Battery Pk_ 13212Coal & Iron 150
160 I Garfield
__ State 11 ____
Bowery6_ 390 ifo- Colonial II- 40)
__ Germ-Am1 140 145 Mach &Met's 245 250 19th Ward_ 250 -_ 12th Ward..
. Mercantile. 15712 1621 Pdfi
__ Columbia 11_ 375 a Germ'n Ex6 485
Bronalloroil 300
acl_
].._ 230 2.
40 - 23d Ward.._
170 Park
groax Nat_ 1100 ' - _ Commerce _ 1208. 120934 Germania 11- 550 515- %Lerch Each 160
137014 137034 Unlon Exc.,
30) 312121 Gotham _
Bryant Pk %155 fig Corn Ex 11
150 155
Merchants'. 178
182 People's I__ 215
_
Wash Wts li
125 Ureenwich-fl 240 250
East River_ 115
Butch 6: Dr 133
145
NietrOPolis NI 390 410 Phenix ____ 187
160-- %Vest Side 6
_ 155
175
Hanover
Century 6_
165
620 635
FkielitY II
Nietropol'n6 200
205 Plaza"Yorkville 11_
Imp
4250
Ss
4000
Traci
Chase
563
Avel565 Mt Morrist. 250 260
475
.
_
..
.
no sales were made on Ms day. I
*hod
4 Ex-riguts. g Less than 100 snares. ii State panics. a Ex-dividend and r guts. 0 New
Exchange or at auction this week, is First installment paid, n Sold at private sale at this price. s 291 paid. 193d paid..
--420
L ieantdsivaev )rice
Bid
165
100
415
385
135
275
120
140
170
Ia.
650
L,00
......,
......,
275
stock.
Ask
1721,
110
7
.7
fio'
..-,
180
....,
.1
FEB. 18 1911.]
New York Stock Record-Concluded-Page 2
STOCKS-HIGHEST AND LOWEST SALE PRICES
Saturfla,,
51anda4
Tuesday
Wednesday Thursday
Friday
Feb. 11.
Feb. 13
Feb. 14.
Feb. 15.
Feb. 16.
Feb. 17.
Sates of
tl:s
Week
Shares.
STOCKS
NEW YOR
STOOK
EXCHANGE
443
Range Since January 1.
On basis of 100-share lots.
Lowest.
Highest.
Range for Precious
Year (1910).
Lowest.
Highest.
InJus trial& Misr:Ala.-tem:.
,230 240 *230 240 *230 240 *227 240
A dams Express
235 Jan 20 5240 Feb 2 4235 Dec '170 Jan
814 814
778 778
812 812 *778 812
400 ti Ills-Chalmers
758 Jan 27
858 Jan 30
710 J'ly
15 Jan
33
33 *3214 33
32
324 32
32
400
Do prer
2758 Jan 6 34 Feu 3
5433 Jan
.17 Aug
6538 6614 6478 6538 6314 65
6312 6412 46,540 Amalgamated Copper
61 Jan 3 6718 Feb 6
5513 J'ly
903, Jan
51
5138 51
5138 5034 5118 5012 5112 5,300 Amer Agricultural Chem_
46 Jan 3 521. Jan 31
35 J'iy
4112 Oct
*110 ____ *100 110 *100 '104 *100 110
Do pref
10134 Jan 27 103 Feb 7
9814 Apr 103 Jan
441s 4514 9414 45
4112 4458 45
44
7,600 American Beet Sugar..
3934 Jan 12 47(4 Feb 6
14 J'ly
471! Jan
*9512 9712 9712 9712 *9512 98
*9512 98
Do met
100
9212 Jan
9712 Feb 4
51) J'W
J'ne
9312 9512 *95
9612 *9512 NIA 9558 9558
200 Amer Brake Shoe & Fdy. 90 Jan 9
C 9558 Feo 17
9112 Nov
212 Oct
!,136 137
136 133
13331 13534 *135 137
200
Do pref
12818 Jan I 136 Feb 13 119 J'ly 13112 Nov
912 f,12
012 017 1,200 American Can
034 978
035. 934
878 Jan 6 1018 Jan 25
J'ne
Jill
8114 8114 8118 8134 8012 8118 80
FOli 10,700
Do pret
77 Jan
62 J'ly
5312 57
8214 Nov
56
56
551 1 5618 5434 5512 5,450 American Car & Foundry 501. Jan 5 8238 Feb 9
3 5/12 Feb 8
3913 J'ly
11812 11812 *11612 11878 *11012 11878 *114 11878
7278 Jan
Do pref
100
115
60
6018 5914 5934 5914 5914 5918 5938 1,400 American Cotton OIL...... 5534 Jan 3 11812 Feb 14 109 J'ne 120 Mch
Jan 11 6112 Feb 2
1218 J'ly
*105 107 1.105 107
693; Itch
10513 10512
Do pref
100
105 Jan 5 10512 Feb 16 100 Dec
4245 255 *245 255 *240 250 *2715- 250
Oct
American Express
4224 Jan 11 5255 Jan 27 3230 Dec 107 Jan
4320
418 418 *4
414
American
418 418
4
4
Hide & Leather
300
334 Jan 25
414 Jan 31
818 Jan
*2112 2534 *2112 2534 *2413 2334 2412 2412
3,2 Sep
Do pref
100
20
Jan
10
2512
Feb 8
19 Sep
4778 ...an
2114 2112 2112 2112 2078 2138 2078 21
1,700 American Ice Securities
1734 Jan 17 2214 Feb 6
1038 Dec
1212 12
1238 1238 *12
11414 Meh
1238
12
12
600 American Linseed
1038 Jan 13 1234 Feb 14
J'ly
1734 Jan
3234 34
*31
34
Do pref
*30
32
32
32
400
3014
Jan
16
34
Feb
14
2512 J'ne
4112 4214 4112 4218 4033 41
4678
Jan
4014 41
3,300 American Locomotive_
3814 Jan 3 4234 Feb 1
29
J'iy
6212
.-109 111 *109 111 *109 111 *____ 110
Do pref
108 Jan 3 11012 Jan 13 10212 Aug 115 Jan
*313 4
Jan
*312 4
*312 4
358 35s
400 American Malt Corp
35.3 Feb 17
Jan
412
18
8 Feb
314 Dec
3412 3412 *33
35
Do pref
3434 3434 *33
35
200
3412 Feb 14 3612 Jan 25
1812 J'ne
48 Mch
*8914 5912 *89141 8912 *881a 3912 *8712 8812
Amer Smelters Sec peel 13
Jan 3 89 Feb 2
52 J'ly
9078 Jan
703s 8014 7913 7958 7734 7032 7738 7812 30,000 Amer Smelt.ng& Refining 8658
7234 Jan 3 8118 Feb 2
6138 J'ly 104 Jan
10558 10534 10513 10512 105 105
Do pret
105 105
1,840
10318 Jan 3 103 Feb 1
98,4 J'ly 11224 Jan
,280 300 *280 300 *280 300 *280 300
American Snug
282 Feb 2 282 Feb 2 245 Nov 185 Apr
*100 102 *100 102 *100 102 *100 102
Do pref
10018 Jan 30 101 Jan 5
1,512 Jan lo2 Dec
5012 5112 5073 51
Amer
5078 4912 50
Steel Found (new) _
50
2,300
4334 Jan 3 5212 Feb 9
38 J'ly
66 Jan
11812 11912 .1 119 120
1133i 11914 11834 11834 2,855 American Sugar Refining 113 Jan 6 12012 Feb 2 11118 Oct 12712
Feb
11913 11912 *117 120 *117 120
Do pref
11678 117
300
111 Jan 5 11913 Feb 14 11112 Dec 124 Feb
14538 14578 14538 14512 14478 14512 145 14512 8,850 American Teleph 1/
1
4 Teleg 14014 Jan 3 14658 Feb 3 12634 J'ly 14388 Feb
9573 96
06
06
9614 9612 06
9614 1,540 American Tobac (new),pt 9312 Jan 4 9612 Feb 16
9012 J'ly
9334 Mch
3314 3334 34
3412 3234 323.1 3234 3312 1,300 American Woolen
2518 J'ly
3012 Jan 3 3412 Feb 15
3912 Mch
06
96
*9514 06
Do nret
9538 9578 49514 9514
518
5018 Dec 104 Mch
9112 Jan 3 96 Feb 8
3033 3038 3018 3034 3018 3018 *30
910 Amer Writing Paper, prf. 30 Jan 27 3412 Feb 15
3012
4018 4014 3934 3978 3912 3934 3914 39,4 1,100 irAnacondaLopper 13ar325 3814 Jan 25 41 Feb 6
54 Jan
.33,2 317
32
3318 *3218 3314 3114 3214 3114 32
1,400 Dethlehem Steel
29 Jan 12 3378 Feb 1
21 J'ne
3478 Oct
6313 64
*6112 6314 *6112 621 n *0012 62
Do pref
300
59 Jan 3 61 Feb 14
49 Aug
65 Jan
14112 14112 141 141
14013 1401r *139 141
300 Brooklyn Union Gas
135 Jan 3 14212 Jan 9 125 J'ly 16.112 Jan
1012 1012 1034 1034 10,3 105; *1014 10
Brunswick
Term & ity
300
9 Jan 6 1034 Feb 15
8 J'ne
1818 Jan
2978 30
*2814 31
28
2814 28
28
1,200 Butterlck Co
23 Feb 16 3012 Feb 8
28 J'ne
33 Jan
3134 3134 -32
32
3114 32
3112 32
2,100 ientral Leather
2814 Jan 11 3378 Feb 2
2514 J'IY
4834
Jan
*104 106
l_J
10113 10412 10412 10412 *10414 105
Do
pref
200
100 Jan 11 105 Feb 10
9914 J'1Y 10914 Mch
*35
36
3112 35
3312 3414 3312 3413 1.620 Colorado Fuel & Iron
31 Jan 3 3638 Feb 6
2212 J'1Y
50 Jan
3
3
*3
100 Col & Hock Coal & Iron_
3 Feb 9
414 Feb 8
3 Sep
9212 Jan
14458 14538 x14234 14-3-3-4 14034
*3143
--- 14013 141
-1
2 31,260 Consolidated Gas (N Y) _ 13534 Jan 3 14538 Feb 14 12212 J'IY 16038Jan
*1458, 15
1412 1458 1358 141s 1358
1132 J'ne
4 1334 1,400 Corn Products Refining- 1313 Jan 10 15 Jan 5
2314 Jan
79
7012 7834 7834 79
Do pref
7
783 7938 1.300
7412 Jan 10 80 Jan 23
70.38 J'1y
8638Jan
*65
70
*65
Crex Carpet
70
70
70
*65
*65
60 Jan 26 70 Feb 8
55 Apr
65 Nov
3634 37
3058 3658 3512 36
3514 353/ 2,550 Distillers Securities Corp 3238 Jan 11 3713 Feb 2
2514 317 .3034 Jan
*32
40
35
35
Federal
Mining
35
36
&
35
3512
Sinelrg 1734 Jan 28 36 Feb 16
900
12 Oct
60 Mch
63
63
6334 64
Do pref
65
6518 6434 65
1,460
4812Jan 11 6518 Feb 16
37 Oct
58 Jan
15514 15512 15458 15434 15314 15312 15312 15312 1,800 General Electric
14978 Jan 12 15512 Feb 10 134 J'ly 16073 Jan
053 634
658 634
dGoldfIeld
Con
M_Par $10
612 658
5734 Oct
653 634 7,110
512 Jan 14
778 Jan 3
Sep
5914
11812 11934 *117 110,2 117 118
11678 11712 5,466 I nt Harvester stk tr ctts 109 Jan 3 11934 Feb 10 ,8318 Feb 12573 Jan
12212 12234 12234 12234 *12278 124
124 124
400 I. Do prof btk tr ctfs
12214 Jan 3 12414 Feb 6 x117 Aug 129 Jan
hut Mer Marine stk tr ctfs
*4.8 558 *5
512 *438 558 *438 55s
412 Jan 18
578 Jan 30
414 J'iy
712 Jan
1714 1714 *17
Do pref
1734 *1612 1758 *1613 1734
100
1512 Jan 17 18 Jan 24
1258 J'iy
143 Jan
101/1 1012 1058 1058 *1012 11
1038 1034 1,575 International Paper
1013 Feb 14 1338 Jan 31
9 J'ly
16 Jan
4914 50
Do
pref
4712 4834 4312 4812 4734 49
4,430
4712 Feb 15 5638 Jan 17
4112 J'ly
6113 Jan
43
434 4234 4234 42
4212 *4134 44
500 Internat Steam Pump
3934 Jan 26 44 Feb 8
3658 J'ly
5458Jan
8812 89
Do pref
8812 8878 83
8413 Jan 20 89 Feb 11
1,500
8814 *8778 89
7812 J'IY
'3034 Jan
11134 11134 11112 11112 111 11114 11114 11114 1,865 Laclede Gas (St L) coin_ 106 Jan ' 11412 Jan
20
9334 J'1Y 11612 Jan
9212 9212 *92
9412 *90
94
94
*90
92 Jan 31 95 Feb 2
100 Mackay Companies
J'ly
79
98 Oct
76
Do pref
76
76
76
*75
76
76
*75
7434 Jan 18 7634 Jan 13
200
71 J'ly
7534 Oct
atonal Biscuit
12112 12112 *122 123
122 12258 12212 12212
11714 Jan 16 12514 Feb 2 100 Aug 11912 Dee
400
*120 12973
Do pret
12978 5127 127 *____ 127
124 Jan 20 130 Feb 4 11834 J'ly 1245 Jan
45
Nat
Enamel'g
1753 1758 *17
&
Stamp'g
1812 *17 .1812 *1634 18
Jan
17
100
10 18 Jan 18
14 Sep
2812 Jan
*84
92
18613 8612 *84
92
*84
92
85 Jan 6 85 Jan 6
5 Do pref
84 Oct
1)013 Jan
5712 5713 5738 5738 5014 57
5618 5638 1,050 National Lead
54 Jan 12 59 Feb 2
4612 J'1Y
98 Jan
Do pref
*10712 109 *10712 10912 *108 10912 *10612 109
103 Jan 5 10812 Jan 16 10134 J'iy 11012
1914 1914 19
1914 1834 19
1878 1878 2,450 dNey Cons Copper_ Par $5 1814 Jan 3 20 Feb 6 $171., J'ly $2238 Jan
Oct
76
*71
72
*73
72 *71
78
74
100 New York Air Brake
7012 Jan 3 7218 Jan 27
59 J'ne
9512 Jan
714 7218 7178 7178 7013 7112 7013 7018 2,000 North American Co. new 64 Jan 10 7238 Jan 30
8018 Nov
84
Jan
ac!fic Mall
2818 2838 2714 2714 26
2614 *2573 28
600
25 Jan 25 2912 Jan 4
22.8 J'1Y
4314 Jan
acific Telep & Teleg„ 44 Jan 3 5458 Jan 31
5218 6212 5214 5212 5012 52
5053 51
3,110
30 J'ly
4614 Jan
10634 10718 10612 107
10534 10641 2,600 People's G L & 0 (Chic).. 10512 Jan 3 109 Jan 19 103 J'ly 11638Jan
10614 107
10514 10612 *106 107
10412 10412 1,500 Philadelphia Co (PIttsb'h) 10012 Jan 3 10658 Jan 28
105 105
84 J'ly 10612 Jan
2114 2114 2034 2034 2014 2014 1978 2018 1,000 Pittsburgh Coal Co
1714 Jan 3 22 Fen 10
13 J'ly
2734 Jan
Do pref
*71
7234 *70
7018 7078 7014 71
72
500
6734 Jan 4 7212 Feb 1
6014 J'ly
85 Jan
36
36
3512 36
3513 3512 35
3518 2,100 Pressed Steel Car
3012 Jan 3 3614 Feb 6
25 3W
5178 Jan
Do pref
*98
99
*98
*98
99
99
*98
99
9214 Jan 3 9878
90 J'ly 10713 Jan
10
11912 11958 119(4 11958 11914 11912 11914 11934 2,750 Pub Service Corp. of N J 11618 Jan 31 120 Feb
Feb 7
16012 161 *161) 16112 16112 16112 161 161
829 Pullman Company
159 Jan 3 163 Jan 30 155 J'ne 200 Jan
3718 3718 3634 3714 3612 3634 36
oyprS
teel Spring
ei
3612 1,400 Ralina
31 Jan 11 38 Feb 3
28 J'iy
5178 Jan
9914 0914 *99 100
*99 100
99
99
200
92 Jan 3 9912 Feb 3 x9014 Sep 107 Jan
35
3514 3458 35
3414 3412 34
3414 6,910 Republic Iron & Steel._ 3114 Jan 4 3514 Feb 6
27 J'ne
4578 Jan
99
Do
pref
99
99
9914 9878 99
40814 9814
870
93 Jan 4 9931 Feb 1
8234 J'ly 10414 Jan
191 191 *188 19012 188 189
188 188
Roebuck & Co
1,000
185 Jan 3 192 Feb 6 150 J'ne 119810861342
bv
*5312 5512 *54
loss-Sheffield Steel & Jr 50 Jan 26 5614 Feb 6
5334 5414 5334 5334
56
400 ears'
4514 Dec
Jan
112 112
112 112 *____ 112 311212 11212
Do
pref
560
112 Feb 14 112 Feb 15 114 J'ly
13312 3914 33
3811 3738 3778 3718 3738 6,200 dTennesseeCopper Par$25 532 Jan 11 53914 Feb 14 $1934 J'ly
5405
8Jan
136 13618 13512 13512 *133 137
136 136
900 Texas Co (The)
131 Jan 24 13612 Feb 1 134 Oct 194 Oct
*88
'rexas Pacific Land Trust 91 Jan 19 92 Jan 24
*88
01
9312
53 Feb
95 May
*8
*834 9
9
8
878 873
8
300 Union Bag & Paper
8 Jan 25
9 Feb 9
6 J'ly
1314 Jan
*58
5912 *58
5912 *58
Do pref
5913 *58
100
5912
5634 Feb 3 5913 Jan 30
5218 Dec
73
Jan
10612 10612 106 106
10614 10614 106 106
United
Dry Goods Cos
400
10012 Jan 27 10613 Feb 4
96
Aug
122
Jan
*10512 106
106 106
10312 10312 10658 10658 1,135
Do pref
10218 Jan 5 10658 Feb 17
9914 Aug 1137s Jan
*16
18
*16
*17
18
18
31713 1712
15 U S Cast I Pipe de Founds 15 Jan 10 18 Feb 6
1418 J'ly
32 Jan
5634 5634 57
5718 5758 *5634 60
57
Do pref
630
50 Jan 16 5758 Feb
49 J'ne
54 Jan
*98 103
*98 104 *100 104
102 102
100 United States Express... 95 Jan 7 4105 Jan 16 49312 Dec 145
Jan
69
6834 6834 6834 6834 *6814 6914 *68
300 U 8 Realty & Improvem't 6518 Jan 25 6934 Feb 27
9
6434 J'17
4 Jan
80
4112 42
4112 4338 4213 4334 4212 4478 15,700 United States Rubber
36 Jan 6 4478 Feb 17
5212 Jan
17 J'ly
*111 112 411112 11112 11158 112
112 11278 1,135
Do 1st prof
10912
Jan
18
11278
Feb
17
99 J'ly 11613 Jan
*7312 75
75
7514 *73
73
76
Do 2d prof
900
7612
7212 Jan 31 7612 Feb 17
592 J'ly
54 Jan
8078 8134 8058 8114 79
8114 7853 80 376,030 United States Steel
7138 Jan 3 8218 Feb 6
61 Jan
6118 J'ly
11878 119
11834 11914 11812 119
8,005
Do pre(
11812 119
11614
Jan
3
12078
Feb
11012
4
J'iy 1253 Jan
46
4613 4514 4578 45
4533 45
4512 3,017 dUtah Copper... Par $10 44a4 Jan 30 4738 Jan 9 133938 J'ne 86014 Jan
65
66
6512 6534 6434 6512 6413 13514 8.700 Virginia-Carolina Chem.._
6238 Jan 3 6712 Feb 2
47 Feb
608 Oct
126 126 3126 126
126 126
126 126
750 DO prof
12378 Jan 3 126 Feb 8 117 J'ly 12914 Jan
564
110 Winla Iron Coal 4c Coke 52 Jan 6 66 Feb 11
64
50 Sep
73
Jan
*1331 105 *1330 1.131"
*161 16312
50
ells Fargo & Co
5150 Jan 18 163 Feb 7 14412 Dec a195 Jan
7414 7414 7414 7414 74
7438 7313 73711 1,500
astern Union Telet- 73 Jan 3 7612 Jan 19
56 J'ly
7813 Mch
71
71
*69
70
6912 70
70
70
2,400 Weat1ngh'seEl &Mfg assen 6512 Jan 12 71 Feb 15
8252 Jan
4912 J'ly
*117 120 *117 120 *117 120 *117 120
Do 1st ore!
116 Jan. 14 123 Jan 5 110 May 130 Feb
*235 240
*814 812
*32
33
(1533 66
5114 5112
*100 110
4434 45
*95
08
96
*95
*130 137
934 1.7s
8112 8134
5658 5634
*116 11878
60
60
*245 255
*418 414
*2412 2512
2934 2034
12
12
*3014 33
4112 4134
*10934 11014
378 378
36
*35
*89
8912
7931 501s
101334 10578
*280 300
*100 102
5012 51
*117 120
*115 120
14512 14512
§9512 9512
3378 3378
9512 9512
3014 30,4
4018 4018
*32
33
6214 6214
*139 142
*10
11
30
3018
*31
3214
*10412 106
3514 3514
14334 14-4-4
*4412 1478
7912 7912
*65
70
3614 3612
3034 3034
62
62
15458 15512
658 658
119 11934
*12134 12234
*458 5,2
*1612 173.1
1134 1212
5034 5134
*4314 4334
8834 89
11112 11158
*93
94
*76
7612
*123 124
312512 12512
*1712 1812
*84
92
*57
58
*10712 109
*19
1914
*73
78
71
7112
*2734 2834
5218 5218
107 10718
10412 105
2114 2114
*72
73
36
36
*98
09
11912 11934
*16012 16112
37
37
*97 100
35
3518
9914 9914
*188 191
*54
5512
11212
3818 3812
136 13618
N
P
S
*834 9
8812 8812
*10512 10612
10538 10512
18
*16
503/
*55
*98 104
6831 6834
*9034 4134
*11034 11134
7334 7334
8078 8158
119 11914
46
464
65
6518
*125 126
66
66
*161 164
*74
75
7013
*69
*11734 119,2
035- 163
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
Banks
1114
Brooklyn
Broadway 1, 385
Brooklyn 1,
Coney IsI'd11
First
Ed --Ho
mesteadli
_4-15
Di anufac'rs*
Mechanical 230
-;
Montauk _
Nassau -. 250
Ask
400
100
155
310
125
115
245
150
270
Bid
Ast
285
153
153
140
300
180
165
150
N Y City
Astor
320
13anke-."rr 620
330
640
Banks
Brooklyn
Nat City_ _ _
North Side 1;
People's ..-Prosp'etPlej
trust Co's
I rust Co's Bid
N Y City
11' was, Tr-- 145
Central 'Fr__ 1010
Columbia _ _ 28)
Co in inercial 140
Empiro _ _ _ 300
Er/ uirble Ts 445
Farm Lo del 1550
FIzleiltv
21314
Fulton -- 293
Ask
148
1025
290
160
315
460
158)
21712
trust Co's
Guar'ty Tr_
Guardian Tr
Hudson
K nIckerb'kr
Law T I&Tr
Lincoln Tr_
Ma nhattan
Mercantile
Metro peril
Mutual
Slut Ail nce
But
790
130
Ask
805
160
160
2-921; 300
255
250
130
140
375 400
725
700
. 450
1:10
_
125
130
-- -
[rust Co's Bid
Ask
trust Co's
NY Life &Tr 1100 1125
Brooklyn
N Y Trust_ 600 625
Brooklyn Tr
Savoy
95
105 Citizens' ___
Standard 'rr 400
Flatbush _
410
litieGu& Tr 495
Franklin__
505
Tr Co of Am 330
Hamilton _
Union Tr
1240 l;:i- Rome
US Sitg& Tr 470 48) Kings Co Unit States, 1145 1165 L 1st L & Tr
Washington 3130 375
Nassau
Westchester 159
160
People's
Windsor - 100
106
Queens Co-
Bid
Ask
420
125
200
MI
215 4
210 A
2-7-6- 280
100
110
505 .
300 31-0
157 165
295
310 j
110
126 :
MID
*Bid and asked 3:ittes: no sales on ttus day. 3 Less than 10) shares. t Ex-r 3hts 4 New
stock c Ex-div ant riga's. d Now quoted dollars per share. :
1Stie at Stock Exchange Or at auction this week. s C- stock .8viden.1
Bank) marked wills a parazraph
are State banks.
New York Stock Exchange-Bond Record, Friday, Weekly and Yearly
Li. n. I;overllllleni
U IS 2s consul registered41930
US 2s council coupon....d1930
41.918
U S 3s registered
41918
U S3s coupon
U 8 35 con small 1)ouds 41918
1925
U S 4a registered
1995
U 13 4s coupon
13 SPan Can 10-30 yr 28.411/36
,10.9.?acz.c4.0
BONDS
N.Y.STOCK EXCHANGE
Fan 17
Exam
WEEK
I blest I
!Feria
Jan. 1 1909, the Exchange method of quoting bonds was changed, and prices are now alL---"and intarsst"-ex,Isp] for income end defaulted bonds.
m
Foreign Government
Argentine-Internal 5s of 1009
Imperial Japanese Governing
1925
sterling loan 4128
1425
20 series 4%8
1.031
Sterling loan 4s
Repubol Cuba Ss eaten debt..
Ban Paulo(Brazil;tru8t 581919
U Sot Mexico s 1 g 68 of 1891/
1954
Gold 48 of 1904
•+
. . . ...... .
,• C.r:
•• •
06XLim
,
mr4c•••=z›
Railroad
A tanania Cent Bee So By
a.laba Midi See At Coast Line
Albany & Susa bee Del& Rua
Auegneny Valley bee Penn Itit
&Reg & West 'See Bud it di, I'
/t1995
&nu Arbor 1st g 48
Atoll T & 6 b'e-Gleu g 48.11/95
1995
Registered
Adjustment g 48
4.41.91.16
11.1.995
Registered
Stamped
h1095
Cony 4s issue of 1009...1955
Cony g 45
11155
Cony 4s(issue of 1910) 1960
10-year cony g Is
1917
Debentures 48 Series J 11/12
• Series K
1913
East Okla Div 1st g 4s 1928
1968
Short Line lat 4s g
6 lie Pres & Ph lat g 68 11/42
411 Knox & N See 1,& N
Atlantic Coast 1st g 43./1.1952
Ala Mid 1st gu gold 58 1928
Bruns& W 1st gu g 4s 1938
Charles & Say 1st g 78 1930
o1852
L& N coll g 4s
Say F & W 1st gold 6s..1934
1934
1st gold 55
SU Sp Oca & Ci• gug 48 1918
Atlantic & DallV See South By
Austin a; N W ,See Sou Paola°
Dalt& Ohlo prior lg 3%s.1925
A1925
LP Registered
A1948
Gold 48
41948
Registered
Pitts J uno lat gold 6s...1022
PJ an & Ai lay lat g 31281925
P L E /6 W Ve Sysref 481941
Southw Div 1st g 312s. .11/25
li1925
Registered
Oen Oblo R lat cg4428..1930
(BLor d8 NY eon lat g 68 1933
Monou air 1st gu g 58-1910
Ohio River RR ist g 58 1936
1037
General gold fai
Pitts Clev &Tot 1st g Os 1922
Pitta & West 1st g 48-1917
Stet 1st Ity 1st gti g412s 1943
Beech Creek Bee ,N Yule ii
Bellev ea Car Bee Illinois Cent
Bklyu & Montauk /Yee Long 1
Bruns & West Bee Atl Coast!,
Buffalo N Y do Erie Bee Erie
13titlaio 11.9 1-' geu g 63_19137
1957
Consol 412s
All 43 West 1st g 45 gu 1006
11143
CI & Mali lat gu g 5s
Rooli & Plitalst g ils 1021
Consul 1st g Os
1922
Bull & Sumo 1st ret g 48.d1951
But C 11 & N Ice C lt, I & P
1913
(Ian So 1st ext 63
1013
k./911 fis
1913
Registered
Carb & Shawn See 111 Cent
Carolina Cent 'See Seal) Air L
Carthage& Ad Bee N 5C C &II
Ced R Is If&N 'SeeBOlI&N
Cen Branca Ity Bee licio Pao
Cent of Ga RR 1st g 58..p11146
Consol gold 58
1946
Registered
1945
1st pref income g Os...471946
Stamped
2u pret income g 6s....p1046
2d pi of income g 58 stamped
m I siA a
Su ore! 11.1COMti Er ast
• .V.P.1?..c
State and City Securities
1960
N Y City-414s
4188 rents tat fro Jan 24 11300
1969
4% Corporate Stock
1958
4% Corvorate stock
14157
28
1
New 4/
1917
New 4%a
418% Corporate Stock 1057
11/17
412 o assesamt bonds
4% Corporate Stook.. 1957
N Y State-Canal Impt 4.8 11160
1933
So Carolina 4.2s 20-40
renn new settlement 38 1913
Virginia fund deut 2.35-1991
68 deferred Brown Bros otts.
Pries
id
Fray
Feb 17
4.
IgnI Range
Week's
Range or .,ita
since
Last Bale'
I
,
January 1
,td
Bonus
?34),
N.Y.STOCK EXCHANGE.....„,"•
4.-,P14
WEEK Ettntrui FEB 17
Price
1oridau
Feb 17
21 Range
1,
Week's
since
,
cRange or ,
Last Rale aq:4 January]
_nigh No ILow Ilig.1
Aslc Low
Ask Low
Bia
Bid
_High No Low Righ Cantor Ge Itit--(('on)
101 10118 1011
2 1011
/
3dpref income g 58 stamped...... 85% 8812 8518 Oct'10
4 2 101 18 lull.
/
8738 I 87% 873
8738
110
2 1018$ 101,
/
Chatt Div pur mon g 48.1951 j.D 87
101 1011
, 3 101 1011
2
/
2 lidi'•
/
105 12 ean'll .... 1051
2 1031
/
10234 1031
2 Feb'll
/
Mao lb Nor Div lat g 55.1946 j.J 104
2
/
103 • 1031
..
115 N ov'06 .... ..,
Mid Oa & Atl thy 5s....1947 .1-J 105
10234 1031
2 1028$ Feb 11 .... 102%102%
/
.
8% 1083,
108% Feb 11 ..... 10
Mobile bly 1st g be
2 J'ly'10
/
'1011
1048 J -J 10834
WA 102
116 11012 11614 Deo'10
61, 1301 Liacei 5 58 1037 M.N 102 12 103% 102 Jan 11 ..*.
"
Cjen
2 8 12218123
/
11638 Sala 111638 116% 5 116.8 110% Cent of N .1 gen'l gold 65.1967 J.j 12341238$ 1231
2 1z:11
/
,
101/12
10058 Aug'10.
Registered
4 12314 12312 Feb'll .... 122 18123,
/
1i1987 Q.J 1221
A ra Dock & Imp gn 53_1921 S.j
108 108 Jan '11 .... 108 1081,
Le & kiwi it gen gug 53 1920 J..) lul
1
Leh & Wilks.13 coal 58..1912 M.N 10018101 1001
99
2 Deo'10 .... ......
/
22 974 99
4 98% Sale 9858
N Y do Long Br gen g 4s 1941 m.s
99% Dee'10
1
1/94
9514 40 9412 95.4 Cent Pacitio See So Pacific Co 1 95 Salt 95
2 89
/
9518 21. 94% 954 CentVermout 1st gn g 48 61921/ Q.F 8918 .90
89 Feb'll .... 871
4 9434 Sale 9434
t 89
90
2
/
801
Chas 617 say Bee Atl Coast Line
81)18 10 891
2 90
/
4 Clam dh Ohio gold 68
/
4103410318 10314 Feb'l 1 ... ! 102/
.
21031
1
all)11 A.4)
100 Nov'10
97 i.,, 6. 97
974,
Gen funding & unpt 58.1920 J.j 10418 104% 10458 Ifeb'll . 10278 105
4 07% woe 97
97.4
18t coneol g fra
4' 97
9718
974 97
14, 113 11311
1134 ...
4 97
M-N 11.3 Sale 113
1
4 94i.
/
Registered
0414 9458 1/44 Feb'll ....1 931
113 119 12Jan'iti
1939 M.N
4en are prices on t74.8 5 ant 0,$5 to ,R,',
General gold 4128
14)92 ivi.8 101', Sal., 101
1014 24 101 101 11
Registered
1992 m.8
1
.
..
..
100 101.74 J'ne'10 .... .
Convertible 4%s
2 10178 193 100% 101%
/
10138 Sale 1011
,
968$ sale
963
L14
1930 F-A
9634 160 .
1/64
wig Sandy 1st 4s
1014 sale 10114 101%1925 10074 101 76
89
1944 J-D 874 88% 89 Feli'll _.. 89
lay
Coal
1st
Ity
114
99%
gu 45 1946 J-1) 84% 871
1)0's Sale 99
4188$ 111178
2 8534 1ov'10
/
Craig Valley 1st g os
1940 J.4 102%
9918 14/ 9812 09%
9918 Sale 9918
104',Sep'10 _
Potts Creek Br 1st 43 1946 J.J
107%108 107,4 107% 20,10674107%
84
90 Jan '011
&
it
Div
A
Davin g 48-19811 j.j 96 sale 96
2 Deo'10 .. .1
/
10912102% 1021
90
1 90
96
2(1 consol g 4s
1981/ j.J
6 1011,
.
1
1 108
91312 91% 0112Sim.'11 .... 91% 91'i
108 sale 1071
2 108
/
Warm Spr Val lot g 58-1041 m.8 1014
102% Sale 102% 102% 7 102 103
11314 beu'uo „
Greeubner
85
Ey lstgug 413'40 m.N
1/938 18 9834 09%
95 Oct'10
2918
994 sale
I 1044104% Chic le Alt RR, ref g 38_1013 A.° 725e 73
73
73
10458
10434 10434
4 721
4 73%
/
Railway let lleu8lae 11.),u J.J
70
10318J'Iy'10
2 71
/
711
711
2 12 704 71:
/
2
Registered
.j
1050 j
75 Oct '01.1 .... . ...
116
90 Jan '11
96
2
/
961
Chic Burl& Q-DenvD 4s 1922 F-A
t 997,
,
7 99 i
11918 90% 9318
097
88 Noy'l0
3
3
Illinois
3125
Div
Sate
87
87
4
88
60 Sale 47
-J
J
1049
14 87
50
8911
14 40
69
Reguitered
1940 J -J
88 Sep'10
Ills thy 45
1949 J.J
11934 997 9034 100
22 99% 100%
Iowa Div sulk Lund 53 11:111/ A.0 10418
104% Deo'l0
...
Slaking fund 4s
2 Jen '11 82 994 9931
/
1911) A-0 994 119% 1)111
Nebraska Extension 45 1027 M.N
984
.4 98% 98% Feb'll ---- Ws 99%
Registered
1027 M.N 5981
11)1.8 Mar'uti
4
/
Southwestern Div 4s. _1921 51-43 99
2 911 Deo'10
/
991
Joint bonds Bee Weal:North
8238
82% 10 78% 82%
82%
7k
99 Sale 99
DeLieutilre os
99 14 111 9818 99
11113M.24 1014101% 101% Feb'll -.101% 101%
9858
General 48
4/858
9858 Feb'll
90
1958M.8 07% bale 97%
9i',375 97% 98
914 Bale 11134
Han & StJos °mum!68_11)11 vi.8 100 10014 1001
2Feb 11 ..., 1001
/
2 1008$
/
7 91% 92%
32
92 Jan'10
Ohio& iil Ill ref & imp g 48 1955 J.J
8241 Sale 821
8218 7 82
2
/
83
1st conaol g Oa
5 91% 9218
9134 924 92
92
1934 A.0 127 128 127 Jan '11 _ • 127 127
10844
11038 *7 11U 111
General oonsol 1st:is...411137 31-N 110 11038 110
'221105 109%
10818 109
Registered
14/37 ).1.N
114 Mar011 .... ......,
109
19 10514 1093
108%10834 109
Chic a, inu 0 Ity lat 68 1930 .1-1 1094
110 Oct'10
103% sale 103 4 104
95 102% 104
1094 Sale 1091
2 1101
/
2 4910818 110% Chicago & Erie See Erie
/
Ciao Cit Western 1st 4s-1951313.S 84% 83
987,,,jan'10
8478 73 848$ 85%
8158
99 is
Chic In Jo Lounsv vet us. lii47 .1 •./ 117
98,2 Feb'10
9878
2
/
12718 Fin,'11 .... 127 12 1271
Refunding gold Is
07% 2 064 97%
2 97
/
1047 J .J 10718 111 114 Dee'09
971
97
Loulav ki A di, Oh 1E4.03 11111 F.A 100 1,
93 saw 93
2
/
931
9314 9 93
1004 Feb'll
100%1004
Chic Ind & Sou 50-yr 4s 105WJ-J
110 111 1091
2Deo.to ..... ......
/
9218 9318 93%
2 *.i 931
/
931
2
/
2 931
/
0119)5111 de St I" term g 5s 1014 J .J 102%10234 102% Feb'll .... 10234102%
tieneral g 4s series A..41089 J •J
94
9418 15 937 943
08% 99
99
99'4 34 09
99%
9418 94
Registered
109 10914 109 Sep'09
e1989 g•J
99“an'll .... 99% 99,4
General g 3,es series 13 e1.9.69 41-J
87', 87% 87% Feb'll .. . 8634 884
11434
94% Ney'10
928$ Sale 92%
25-yr deuen 48.
1934 .1-J
134,4
99% 11 02% 93
L
&
Who
g
106%
Jan'11 .... 10(134, 107
-J
J
Sulky
107
107
bs....11121
2
/
961
4
923
95
161
94 Sale 9334
Chic & Mo thy thy 5a....1.026 J.J 10878
2Dec'10
/
1241
2Oct'10 .... .. ..
/
1081
...
.
..
124.34
Ohio & 1' W 1st g 68
1921 ,J.J 100%1074 10034 11111%
3 11;6.4 1074
111
1.11. 111
111 Jan'11
Dak & Lit So g 58
1910 J •J lt.KA% 104% 1.0.3 14 Oct'1u .
9518.95 J'ly'10
11
Far do Son abidu g us
1924 J -J 117
.... 11741174
2 Jan
/
1171
LaCrosse & D 1st 5s
105.. Dee'It)
1011/ J -J 105%
Wis & Minn Div g58..„1991 J -,j 100%10714 lu I Jan'11 .... 10038 107
33 924 93
9234 Sale 9218
93
Mil & No 1st cons 6a. 111111 J-.1) 103%
2 Oct'09
/
911
111358 Aug'10.
Extended 4',s
2
/
1913 4.)) 1001
9812 Sale 981
2
/
9874 53 98
99
9818 Clue& liorthw cous7s
98,2 981
2Feb'll ___ 98
/
1015 4-F 110 112 112 Felell .... 10114 112
Extension 48
99% 1004 41934 Jai,'II ... 10.134 9934
11174113% 11.2i4Deo'10 .... .....
1886.1920 It'-A
Registered
888$ 88% 884
6, 87% 88,,
1/8% Sale 98
98% 15 07% 984
1886-1920 F-A
8818
General goid 312,3
91% kr/
9134
99
11 91 12 92,1
8i'b 29 8711i 8811
1987 M-11 87% 8778 877
998$ 31 8812 91 `
908 Sala 908$
Registered
93% Apr'n. . ...
pli187 Q-b'
2Apr'10
/
891
......
9018
General 4s
198 r bi-N
.. -11-iN -01;18
0834 9874 111:376
913182113
4
100,
bulking Lund 03....1879 1021.) A.0 11118
103 Mar'10 .... ......
112 Jan'11.... 112 112
110
110 Dee'10
Registered
III% I's °Wolf ....
1879.192v A.0 110%
10138
Sinking
102%
10218
Lund 58. 18704921i A-0 195%
1 102%102%
106 Dee'10
109%
112 Deo'Ob
Registered
106 Mar'10
1879-1020 A-0 103.2
103 1104 107 Jan '11
107 107
10014 100 Jan'll .... 100 100
Debenture Is
1921 A-0
113 114 11318 Ifeli'll ...113%11334
Registered
105% 106% FelPlu
11121 A-0
In%
07%
97% -1. 1.17.8 97.8
Sluicing fund deb Os
1 1084 1094
2 1084 1084
/
1033 ,11-24 109181101
100 Nov'04
*80
109 J'iy'08 4 .
19,33 ,14.8 108%
Registered
115 Jan'll .... 115 115,4
Mil L 6& West 1st g tis 11121 M- 6' 1158$
Itzt(to 11119 a fund g 5810211 F-A 10958 1114 10912 Ifeli'll .... 1.01/12 109'17
2
/
14218 Feb'02
Ashland Div 1st g 68 1925 M.8 1171
118 Jan
118 118
Mich thy 1st g Os
11124 J -J 1171
2
/
.
'11....
100% Dee'lo
Incomes
1011 M.1.1 10012
1161.2J'ly'10
110 Yeb'll.... 110 110
011ie Bock 1st & Pac Us. .1917 J -J DM%
113
Registered
11/17 J -J 101)1811018109 Ang'10
4Deo'lo
/
106%1074 1u81
97 beU'll97
50 91
07
General gout 43
US
07 sale 07
U7
1968 J•J
0834
9834 Feb'10.
2
/
37
1081
103 J'13008
Registered
1086 J -J
115 J'ne'10
89% 74 8918 807A
113%
Refunding g 4s
1934 A-0 811% Sale 69%
2 Feb'll
/
97% J'ly'I0 .
2 1161
/
Coll truat Series J Is
11612 1161
11(1 1171
2
/
11112 511.1-1
96 Dee'10.
01 '18
13(3
11115 M-N
36
72 Mario
71
N 48
9038 94 Deo'09
1910 M.N
9414 May'10
04s
11117 M-N
4 2 103 1037
/
103% Sale 10318 1031
4 Aug'09
/
931
95
191811-8 *
P 48
11/138 sate 1018$ 10,3% 3 100%101%
741,290 7278 7458
Chic It!& Pao Itit 43..2002 Al•N
73% Bale 73%
1014 10034 JaU'll ..... 10104 100%
Registered
2002 51-N
7414Feb1.1.., 744 744
*5 9314 94
94
94
RI Ark& Louis 1st 4128 1934 MS 04
95
2 1 112 112%
/
Bar 0 it & N-181,8 os 1034 A.0 112 11218112', 1121
Registered
1934 A.0
12012 Mar'03
ORLY eie N W lat gu 68 11321 A-0 105%.
', Oct'10.
105,
IA1 ea St L lat gu g 78 1027 J-D
11214 Feb ill
112%112'4
11214
Moo Ok & is gen g Is .o11111/ J ...1 10212
104 Mar'10.
22 1074 101.1
108
108 Sale 108
Consol gold Is
1952 M-N ...... 109'2 109% Feb'll .... 10918109%
108 113 Apr'06
Kook & Des M lst5s
1023 A-0 91)18101 100 Feb'll .... 100 100
2Feb'll .... 1004102%
/
100 100% 1001
Jlao St 1,& N 0 Bee ill cent
100 101 102 De0'10
Chic St L& Pitts Bee keuu Co
29 1/034 IOU
96
96 Sale 1 96
Ohio St 201 & u con 68-11130 41-1) 1248s12314 124% 124%
1 124 1254
97 I 88% Nov'10
94
Cons Os reduced to 3128.1930 J.0 85
he thaviis
RAI.Sala I ittil.
RA 4, 12 SU In 99
ilISCELLANEOUS BONDS-Continued on Next rage.
Street Railway
Brooklyn Rap Tr g Is
1946 4.-0
1st refund cony g 48.-2002 J.J
Bk City 1st con 58.1916.1941 1.3
Bk Q Cole IS con gug 65.1941 A/1-N
Bklyn tin El 1st g 4.5,4.1950 F-A
Stamped guar 4.513-.1950 F-A
Kings Co El 1st g 48.-1949 F-A
1949 F-A
Stamped guar 45
Nassau Elea gu g 4s......351 J•J
Conn Ey& List&ref g 4'28'51 J-J
1951 J•J
Stamped guar 4las
Dot United 1st eon g 4%8 1932 J-J
Havana Else 000601 g 5s 1952 F-A
19311 A.0
Inter-Met coil 4188
inter RapT 3-yr cony 98 1911 M.N
1952 M.N
, 45-year Ss Series A
Internet Tree coil tr 43_19411 J.J
Manila Eleo 1st & coil 58.1953 -8
103 104
10334 10334 Feb'l 1
844 "17 89% 844
8378 Sale 83%
7 102 103
102 10234 10234 10234
98 Doc'10
101% Sale 101% 10134 18 la.102
[01823
101'1 Sale 101 12 102
84
844 Deo'10
83 831
2 8312
/
2 1 854 841
/
831
2
/
711
78
7858 8 78
79; 78
101',1027e 10218 Mar'li
101% 102
10112
101%
2
/
80% 821
89% 83
2
/
821
13212
21 94% 97
95%
96
7878 Sale 78%
7918 283 78% 79%
100%100%
2 100% Felrll
/
100%1001
2 103% 103% 103% 44 10318103'.
/
1031
674 Mar'10
......
80
138 May'06
90
Street Railway
Het Silty gen col It g 68 1997 F-A
2002 A.0
Ref g 43
Bway& 7thAv 1st g531943 J•
Col& lithAv let gu g 55.1993 11-S
Les Av &P lstga g Is 1993 11-S
Third Ave RR son ga 482000 J-41
Cent Tr Co cortfs stmpd....
Third Ave By 1st g 56 1937 1-4
N Orl Ry & Lt gen 4%8 1935 J.J
St Jos RyLt.E1 & P lstg 58'37 11-N
St Paul City Cab con g 5s.1937 J -J
Tri-Oity Ryas Lt 1st 5 f 55.1993 A-0
Underground of Lou 65...192li 11.N
11133 J -J
44s
1945
Income 6s
Onion El(Chic)1st g 58-11.145 A:6
United Rya St L let g 48.1934 J.J
United RRs San Fr at 48.1927 A-0
*No prioe Fridays latest this week. Inst. oDue Jan d Dna Apr o Das May gDne J'ne &Dna
kDtto Aug
78%
75
7874 75 Jan '11
413
464
461e Feb'11
102 102%
102% 10234 Jan '11
100 101
101 IOU Jan'll
911%100
100
100 Feb'll
004
004 Feb'll . 149
684
2-0 5534 614
/
601
59% 6(P2 00
109 111
100
110 Jan'11
85
83
85
85
3 85
98 Icov'09
98%100
106
100 108
106 Feb'll
1/13.2 S 984 98%
98% Sale 9814
99% 98 Apr'00
95
93
921211'0'11
95
43% 20 138.4 461g
42%
42% 43
99
9934 84 Oct'08
......
81
80 Aug'l0
72% Sale 72%
72%
75
43
102
•ual;
oDne Oct
p Due Noy sOption6aZS 11
FEB. 18 1911.1
BON Ds
N. Y. STOCK EXCHANGE
WEEK ENDiNo FF.13 17
New York Bond Record-Continued--Page 2
1'
1
Price
• 14.2
Pridao
It:.
4
;3
, lob 17
Week's
Range or
Last Sale
.?4,2
Range
Since
January 2
BONDS
N. Y. STOCK EXCHANGE
WSEK ENDING FEB 17
Price
.2
luFriday
Feb 1?
445
1
1
Week's
Range or
Last Sale
Range
Since
.4) January 1
But
Riga No Low Eton Erie & Pitts see Penn ()o
Ohio St P M & 0-((Jon)
Ask Lee.
No Low Rio,
Bid
Ask bow
Oh St P & Minn 1st g 68 1918 M-11 128%
125¼ Tan'11
124 1264 Evans & T 11 lat cons 66.1921 1.1-j IPA Sale 11234 1124 2 112%112%
Nor Wisconsin let 6s 1930 J-.1 123%120 12918 May'09
1st general gold 5s.
194.9 A.() 101 18 102 101
101
101 1011
/
4
St P & S City 1st g 66 1919 A-0 112%11.234 112% Dec'10
Alt Vernon lat gold 60-1923'A.0 1041
/
4112 114 A pr'05
Chic& WestInd gen g °sole:12 Q-51 1084 110 1101
/
4 DWI°
Sufi Co Branch lat g 66.1930 A-0 95
95
J'ne'08
913
. 93
Consol 50-year 4a
1)234
93
19523. J
921
/
4 934
41
/
4trgo & So See Ch
d; P
Chic & W Mich See Pere Marti,
lint& Pere 51 See Pere Mar
Choc0& Gulf See CR I& P 1
Fla0& Pcmn See Sea Air Line
/
4
113 Oct'00
Clii H ds 1) 2d gold 4's 1987 J • J 1001
Fort St U 0 Co 1st g 448.1941 J-J
80
92 Aug'10
104 •11 104 1044 Ft W& Rio Gr 1st g 48...1928 3.4 84
Cin D So 1 let gn g 5s 1941 M-N 101 Sale 104
841
/
4 841., Jan 11
811
/
4
/
4 841
()Find & Ft W 1st gu 4s g.'23 111-N
al Har & 13 A see So Pao Co
8678 80% Oct '10
86
Chi I & W 1st gu g 48.1953 J -J
A -Ial U SoIL of 1882 1st 5E1.1913 A-0 074
08/
1
4 E0'11
084 981
/
4
Intl Dec & W 1st g 5s 1935 J -J 11)334 Sale 103% 103% 3 103 10334 Georgia& Ala Bee sea A Line
1071
/
4 Dec'02
1035 J -J
lat guar gold 56
Ga Car & Nor See sea A Line
0 1 St L db () See U Oct; St
Georgia Paciflo See So 11y
OhnS&C hee (1 C St. L
Gila V Cl& Nor See So Pao Co
Clearfield & Mali See is 11 & P
Gouty & Oawegat See N 2 Cent
4 0334 95
9434
95
Clev Cm es St L gen g 431993 J•D 93 95
Grand Rap & Ind dee Penn RR
92 Feb'll .•.• 92 92
93
Cairo Div 1st gold 48-.11139 J-J
Gray's Pt Term ties k3t L S W
01
0414 9318 Lec'11) ••..
Chi W& Ai Div litt g 43.1991 J •J
1
Gt Nor-Olt& Q colt tr 48 1921 J-J 9614 Sale 96.
964 317 951
/
4 W.
94 Jau'll •.•• 9312 94
St L Div 1st col tr g 4s 19110 M-N 9334 95
Reglatered.A
96
96
1921 Q-S 96
1 9518 98
01 Oct '07
1(190 11-N 90
Registered
St Paul & Man 46- 1933 j-J
id)
i19
Feb'll
9318
981
/
4 99
MI%
06 Dec'00
Spr & Ool Div lot g 46 1940 M-S
lot ooneol gold (18
/
4 12634 Feb'1 1 .... 120 12714
1933 J -J 12618 1271
111%
9112 Deo'10
W W Val Div 1st g 4s 1.1140 .1-J
Registered
132 Apr'0:,
1933
J-J
106
consol
tis 11120 M-N
1054 Feb'10
0181 L& C
Reduced to gold 418s 1933 J-J 10018107 1054 Feb'll •
10618106
la Sale 9638
1st gold 4s
k11/361 61-11
97
2 116
97
10834 J'ne'u9
Registered
1933 J.J
......
9512
Registered
1s1936'
116 Aug'10
Wont eat let gold 46 1937 J-D 98
981
98
1 90 9814
/
4 98
106
Ole S & CI, con let g 5s..1028 -J
106.4 J au'11
100 10034
1001
Registered
/
4 Oct'06
1937 J -D
00 C 1 cousol7s
10718 1071
/
4
1914 .1-I) 1071
/
4 5 107% 10718
C Minn NorDivlst g 481948 A-0 9212
91134 Jan'1 u
Cense'sink fund 76...J1)141J •D
Minn Union 1st g 60-1922 J -J 114
114
Deo'10 •
......
General consol gold 06.19341 .1-J 12514
1•25 Feb'll.
1251812518
Mont C 1st gu g es
127 Jau'll .... 127 127
1937 J.J 1'27'S
Registered
111341J -J
Registered
1364 May'OU •
/
4
1937 J-J 1251
Intl 131 & W let prof 46 1940A-0
94 J'13008
1st guar gold 5a
1937 J•J I 11218 /13 11212 DWI(). I
0 Ind tfo W let pf 58..41938 -J
WIL1 & S If let gold 53 1938 J-D 112% Sale 112% 112% 2 11234 112.4
Peo & East 1st con 46 11140 -0 112
111 90
93
931
/
4 9218
91)
Greenbrier Ry See Ches & 0
Income4s
60
15 09
1090 Apr 60 Sale 89
611
/
4 GUIlifc Ilatrof tgba 61952 .11-J
9134 Jan'11
DI
90
913
. 91%.,
Clev da Marietta See Penn lth
LI an & St Jo b'ee 0 13 & Q
Clay da Pins See Penn Co
-11-1ousatonio See 14 N ab
67
60
071
/
4 07
Col Midland 1st g 4s
2 0734 89
Hook Val 1st oomsol g4128 191/91 J J 102 18 Sale 102/
1947 J • J
1
4 10212 6 1021
/
4 102%
071
/
4
961
/
4 29 90
90 Sale 90
Colorful)& Sou lat g 4a 11329 F -A
Registered
10018 sup'08
19M) J.J
1935 M-11 9834 sale 1)84 98% 40 978 9534
Col & li V lstext g 48 19481A-0 944 U3I2 9434 Feb'l 1
Rotund & ext 41.6
114% 94%
113
113
113
114
113 113
Col & Toilet ex 48
Ft W & Den C lat g 66 1921 J -D
9018, 9914 a: nu'uu
1955 F-A 96
Roust E & W Tex bee So Pac
Colunt & tireenv See so lty
Houst& Tex Cen Bee so Pao Co
0010 Hoot Val See Hook Vat
Hous Belt & Term 1st 58.1937 1.J
Col & Toi bee flock Val
101181011a Feb'll
101 12101%
111111018 central 1st g 48-1951 J..f
Cot Conn & Term See N & W
1024 103 Feb'll
103 103
1. Registered
Llonn & Pas Rive 1st g 46.1943 A•t,
11151 J-J 100 1023410738 apr'ul
100
100 May'10
1052 J • .1
(Juba 1111 1st 50-yr 5 g
1st gold 34s
90
90 Sale 90
1 00 904
1951 J-J
tak & (it So bee
& tit 2
Registered
94 Sep'09
1951 .14,
Manse & Waco See
K T
Extended 1st g 312a
1)312 Meru()
881
/
4
A-01
1961
Del Lack & W estern1st gold 36 sterling
SO 3'4'09
1951 M.
Morris& Essex 1617e 1914 M-14 1081
/
4
108% Jan'11
10338 10834
Coll Trust gold 46
98 Jan'11
1962 A-0 98
..
'VC'
lat consul guar la
1915 .1.1) 111%1124 1111
/
4 1111
/
4 9 111)* 1.4
119 J'ne'teJ
Registered
A-0
1952
96
Registered
11115 .1-D
111% Deo'10
1st ref 48
974
97
91
196511-N 97
97
98
lst ref gu g 3126
2000 J•D 87
91 Jan'11
L N 0& Tex gold 48 _1963 31-N 08 Sale 98
981
/
4 12 98
911%
N Y Lack & W lat 6s 11)21 J -J 1164 116 115% Jau '11
9434 Jan'11
Registered
96
51•NI
el%
1963
94%
Construction 58
/
4 106 Oct'10
1023 F-A 107'S 1121
Cairo Bridge gold 46.. 1950 J-D, 96.4 1/8
96 Jan'11 •••• 96 96
119 Sale 99
Term tit improve 43
11/23 M-17
99
80
Lou.isvInv&Term g34
854 88
.
5 1053 J - J1 86 Sale 86
Warren 1st ref gug 34e 2000 F.A 85
102% Feb'03
May'119
Middle Div reg be
123
..........••
102
F-A
1921
Del & Hutt 1st Pa Div 76 11117 M-S 11018 11/1
,1•20 001'10
Omaha Div 1st g as
7734 Mar'10
19151. F-A 74
Registered
1161s 149 Aug'01
11117 51•S
St .Loula Div&term g 38 1951 J-J
761
/
4 Jan'll
. 1.1
10-yr cony deb 48
11)16 JD 9834 9934 084
Oil
38 08% 99
Registered
741
:
4
11151 J•J
......
1st lion equip g 44.03- 1922 J •J 101 Sale 101
101
2 101 102
Gold 3123
/
4 874' 89 Feb'10
861
J.J
1951
1st &ref 46
1943M.}? 9834 bate 98%
9834 38 98% 1001
/
4
Registered
1011
/
4 Oct 'in)
11)51 J -J
Alb & Sae cony 318s
93%
11140 A-0 9308 94
03% lu 93% 94
Spring Div 1st g 3126 1961 J-J
Nov.
1/0
100
87
Rene & Saratoga 1st 78 1921 M.N 124
124 jan'
11
12334 124
Western Linea 1st g 48 11151 F-A
96% Deo'10
11618
Del Riv RR Bridge See Pa lilt
13ellev & Car 1st us
1174 MaY'10
11123 J -D 117
Deny & It Cr 1st con g46.1936 J -J
924
924 7 924 04
93
Oarb & Shaw 1st g 4e. 19,32 M•8 1)4
1154 Oct'10
Consol gold 4128
101% Dee'10
1930 J J 101
N 0 g ba...1J51 J-D 1154 1194!1164 1164
Improvement gold ba 1928 J
101 102 1034 Deo'le
Registered
113
lib
1951 J-D
12
1st & refunding Os
Of) 1124
112'S
1955 F-A In% Sale 92
Gold 343
90 Oct
1961 J-D 84%
Rio (Jr Juno let gu g 58 11139 J •D
98 Feb'i./8
105
......
Mempli Div let g4s 1951
93
12 Mar'lil
'01)97
78 Dtio'01)
Rio Gr So 1st gold 4s 1940 .1 • J
65
kit 14 Sou lat get g 46
118 J'Iy'v8
954
11/31
85 Mar'08
Guaranteed
Ind Illde West &ea()(I& St L
1
1440 J • J
Rio Or West let g48.1939 J •J
17 We 1)1% led lli&Ia lst g 46
K/1
/
4 9134 914
9614 Jan'11
J-J
964 97
1950
Mge anti col trust 4sA.111411 A-0 8518 861
834 861
/
4 854 Feb'll
/
4 Lnt& Great Nor Ist g 63 1919 11-N 1084 Sale 1084 A0818
97 Jan'04
Utah Cent 181.,gu g 4a a1917 A-0
...
2t1 gold 53
110 May'10
1909 M•S 100
Des Mot era Ft D see &
Trust Co certfs
110
110 Sale 108
25
110 Sop '04
Des Mot Un By 1st g 58 11117 11-N 100
3d gold 4s
15 Nov'10
192111-S 14% 16
94 Sop'10
Dot & Mack 1st lieu g 46 1996 .1-1) 113
Iowa Central let gold 58-1988,.1-1) 1021
/
4104 1024 Feb'll
Gold 46
891
/
4 8812Jan 11
11195 .1-D 811
884 881
/
4
Gold 4a
/
4 1
09% 684 081
111511m•S 67
pet So-L)S Div 1st g 4s 11141 M-8
7234 74 Oct'10
James F & Clear lat 46-1959 J•D 94% Sale 944
/
4 5,
1141
Dal & Iron Range lat bs 1937 A-0 1011 10111
1 10838 109
/
4 109
109
44 aiASo'JR tieeLS.aMy
Registered
1064 Ilar'tis
1937 A-0
L an&Mich See TO1 d;0 U
20 63
1910 J -J
KOFIS&M SeeStL&Slt
Dul Short Line See Nor Pao
KC4IMR&bl ,8ee st.L& I
Dal So Shore 61, Atl 63 1937 J -3 107 110 108 Jan'11
108 108
ilanO&Paciilo See
K T
last of Minn bee bt P
Kau City Sou let gold 33-1900 A-0 '7314 74
74
74% 7 731
/
4 7418
aliast Ten Vs & Oa See Sony
Registered, 1430 A-0
63 Oct 'uu
...
iGiginJol & Eaat 1st g 53.1941 ril-1 1104
1081
/
4Nov'10 .
Ref & irupt 58
Apr 11/50 A-0 101% Salo 10138 102 216 .
1(10% 102
ElunCort&No See Lelici N Y
Kansas City Terml 1st 431960
97% 974
9714 15 06,,4 9744
/
4 1191
/
Erie 1st consol gold 7a
4 51 1191
/
4 12018 Kentucky cent see £.& N
1921) g•S 119 120181191
NY d; Erie lat extg 46 1947 M•N 1004
IOU J'ne'lui
Keok & Des 5Io See C K l&P
1044Jan
1051
'11
/
4
....
105%
20 ext gold Os
1041
/
4
1044
19113 M•S
Knoxville & Ohio See So Ry
30 ext gold4126
1923 M-8 10212 1034 10214 Feb'il .... 1014 1024
ake _Erie & W 1st g bs..11/37 J-J 110 111 1114Jan'll
10912111;g
.. 105 1054 • 2d gold bs
4th ext gold Os
1920 A-0 105 10534 10518
1941.1.4 104¼ 10518106¼ Mar 10
99%
Feb'
97.
6th ext gold 48
RI
.1-1)
1928
North Ohio 181 gug 5s 1945 A-0 1091
1681.84au '11
108,
/
4
41084
NYLJ6&WLstg fd 76.11120 11-S
. 11812 118 Out'10
......
L8lio&MtcltS See N 2 dent
80 87
80
80
Erie 1st con g 46 prior-190U J-J
.1•J , 854 8612 Loh Val N Y let gu g 4123.1040 3-4 1051
/
4 107 1074 Deo'10
Registered10)6
8334 8838.ran'll
Registered
104,
luit. Jail'
4 1044
1940 J -J 10418
11
1st oonsol gee lien g 44990 J-J
754 76
7518
00 731
/
4 76
70
Lehigh Val(Pa)cone g 46 2003 M-N
971
/
4 9414 De0'10
Registered
74
9116 J -J
SO 'S Feb'07
Loll V '2er Ry let gu g 58 11141 A-0 114 1144 114 Jan'll
11818114
Penn coil tr g 46
1951 F-A 8714 871
/
4 874
871
/
4 91 811
87%
Registered
1041 A-0 1111.1134 10114001 '131)
......
50-year cony 41 A
19513 A-0 '19 Sale 784
15'31 73
79
49
Lou V Coal Co la1gn g 66 1933 .1-4 1074
108 Nos-'in)
do
Series 9L1953 A-0 71% Sate 714
7178 86 61) 72
Leb.& N 2letguarg4e 1u455 93
4
Marin
933
Y&
Erie
Buff N
1st 73-11110 J-D 11018113 1104 Jan'll ....' 11034 11034
Registered
11145 M
Ohio & Erie let gold 5a 1982 M-1
,
1 112
113
113 1 2 1111
/
4 113
C tr. N 1st pt 68
11114 A-0 102
1014 Feb'10
(31ev & Mahon Val g 53-1938 J•J 1114
11138 111%i 1 1111811118
Gold guar as
1914
1011
/
48.p'1.113
/
4
Long Dock consol g 63_1935 A-0 12934
124%Jan '111._ 12434 12434 Leh liud It see Cent ot J A-0 1001
Coal& 1111 1st cur gu 0841122 M-N 10518109% 114 Apr'10'
Lou & Wilkes!) See Centof NJ
Dock & Imp 1st our 66-1913 .1-4 10112
10038Jan'll
100% IOU% Leroy & Caney Val Bee Ito P
9918
91)4 Nov'n)
N Y & Green L gu g 58.1946 M-N
Long Dock See Erie
1011
/
4 105 1014
N Y Sus & W lot rot 5o 1937
19134 Long Isl'it-let con g 58.41031 Q-.1 1091
/
4
111 Feb'll
111 112%
F-A
1937
20 gold 4126
1001
/
4
181 consol gold 413
/11931 (4-.1
J.
General gold 53
1940 F-A et)
871
/
4 reb'l I
854 874
General gold 4a
1936 D 115
96
9114Jan '11
964 964
Terminal lst gold 58 1943 M-N 10912111 1104 Nov'10
......
Ferry gold 44a
1322 M•13 1/81
/
4 Sale 984
981
/
4
984 118%
Mid of NJ let ext Os 11140 A 0 1104
11034 DWI°
(hold -is
11132 J-D 91
91114 Oct'00
97
..to Ea 1st git g53 /.942 .1-1) 991
/
4 1004 1004 Feb'11'.... 1004 1004
Wailed gold 48
1941) M-8 94 9434 9434
9484 2 944 954
Ev & Ind latcon gu g 66 1926 .1-1 110 112% 114 Oct
•
......
Debenture gold Os
1934 4-1) 103 105 1041
/
4 Dec'Oa
MISCELLANEOUS BONDS-Continued on Next Page.
••••
•.
•
••••
•••• ......
••••
••••
••••
see..
• ea
••••
••••
••••
......
••••
••••
• ••
••••
-•
.
• ......
Gas and Electric Light-Gas and Electric Light
Atlanta G L Co lat g 56 1947 .1-11 102%,
NYGELH&Pg 5s...1948
1024 Sale 102
1021
/
4 40 102 192%
Bklin U Gas 1st con g 50 1945
10638 Sale 10638 10U34 0 10534 107
Purchase
money g 4s...1940 F-A 881
/
4 Sale 884
8838 85 87
88es
Bu
(haa 1st g 53
1947 A.0 601
/
4 60 Feb'll
/
4 611
Ed El Ill let cons g 88..1995 J-J 110%
694 601
/
4
1104
Oct
'10
....
Columbus Gas lot g 56
1932 3.4
NY&QE11,66P lateen g581930 F-A 101
100% Fete11 ... for
..
Detroit City tias g Os
1923 J..1 100%10034 100 Jan '11
Rich
&
Gas
100
Y
N
let
g
10/
85.1921 M-N
97 Is J'IT'
Det Ciao Co con lat g 53 11118 F•A 100 101
00
11538 Sep 'US
Pacific G & Eleo Co Cal0& E
Bq LN 1st Con g 56 1934 vi-s 105
105 001'10
unifying
Corp
&
ref
58
1937
51.-N
924
921
/
4
1 014 92%
92% 9218
Gas& Mee Berge°c g 66.11/40 J.0 101
0112Oct'01
Peo Gas & let con g 63 1943 A-0 1108
11012 Aug'10
Ur Rap (2 I.Co 1st g bs...1916 g-A
98 101 100 Oct'03
Refunding gold 53
1047 li•S 102 sale 101,
, 10'2
4 101%102
Hudson Co Uas 1st g 58-1940 M-N 1031
1031
/
4 Ireb'll
/
4
eke
-L
103
&
G
lat
gu
Cll
g
5s
1034
1937
3-4
103 10378 L034Jan'll .... 103 1031
/
4
Kan City(Alo)(hoist g 5a 1922 a.0 1)8
97 Mar'i
Coll G Co of Ch let gu g 53.'30 J-0 1011
/
4 1021
/
4 101 12 Feb'll .... 101 1014
Kings(3o E.L & P g 53...1937 A-0 1024103 10214 102,Ind Nat Gas& Oil 30-yr 86'30 31-N
kU1¼ 1021
/
4
/
1
4 Feb'll
90 91%
91
.Puroluise money 0s
1997 A-0 116
115 Feb'll
Fuel(haslet gu g 53.1947 :11-Fe 1001810118
115 115
Mu
100/
1
4 Jan'll .... 1001
/
4
/
41001
Ed £l111001 1stcon g 481113!' .1-J
8714 Jan'11
8734
87% 874 Philadelphia Co cony Os _1919 F-A 10434 Sale 101.4 11)5
/
4
28 104 1051
Lae Gas LotSt List g56.41011) Q-F 10234 103 10234 102,
Syracuse Lighting 1st g 66.'51 .1-D
,
10234 103
91)
98 Aug'10 .
Ref and ext let g as
11134 A-0 100% 1011
/
4 10038Jan'11
Trenton th & 111 1st g bs 1941,
1004100%
b 102
110 isiny'05
Milwaukee Gas List 4s 192'4 M-N
901
/
4 92
901
00%.
/
4
Union Elcc L& Plot g 66 1931: 11-8 100
1)0
91
96 Jan'08
Newark Con Gas g fis
1941 J-D
1004 Jan'll
1004 1004 Westchester Light'g g 58 1951, .1.0 104%
1044 Feb'll .... 104 1044
* NO price Friday; latest bid anti asked thek. a Due Jan b hue Feb
d Lae Apr eDue May /i Due Ply 2Due Aug q Due Deo a Option Isle
New York Bond Record-Continued-Page 3
46
BONDS
N. Y.STOCK EXCHANGE
WErac ENDING Tim 17
g
-4,14
Price
Friday
Feb 17
Week's
Range or
Last Sale
00
Range
since
January 1
BON DS
It:.2
N. Y. STOCK EXCHANGE '
4
1 t,
WEKE ENDING FEB 17
Price
Friday
Feb 17
[VoL. Lxxxxii.
117eek's
Range or
Last Sate
,,Y,1 Range
-51
Since
a;
lJa3nearv
A
Rio Re Low High. N Y Cent & H R-(Con)
40.1 Lou
llea
Bin
Ass, Low
_High No; Low 11,414
Long Island-(Con)
06
961
/
4
Mich Cent coll g 34s....1998 F-A 70
791
/
4 794
79% 4 781g 7038
1049 as.8 9614 96% 96 Jan'11
Guar ref gold 4s.
Regititered
701
/
4 8014 Dec'10
1908
F
-A
!WS
1911
Bklyn & Mont 1st g 06
Deo'08
10114
Beech
Creek let gu g 48.1936 J • J
9878
081
/
4 Dec'10
1011
1st 5a
1104 Nov'06
Registered
081
/
4 Nov'10
1936 J -J
0814
N II& M 13 1st con g 5s 1936 A-0 103¼
105 Apr'07
/
4
2d gu gold 6s
1927 6I-S 1011
N Y& R13 1st g 5s
104% 10434
Beech Cr Ex t Ist g 34s 310
1 18
"
°6
°531
6j
A-0
Nor Sh B lat con g gu5s o1932 Q•J 1(3434 105 104'4 Feb'll
9534 Dec'10
Cart & Ad 1st gu g 4s 1981 J •0
971
/
4 Apr'00
Louisiana& Ark 1st g 58.1927 M-S 914
116 jan'11
1151
/
4 116
Gouv &()awe 1st gu g 5s 1942 J-D 111
Louisv & Nashv gen g 66 103( 34) 1164
1111
/
4 DWI()
Moh & Mal 1st gu g 4s..1091 11-S 99 Salt 911
99
1 90
1037 M-N 110
99
Gold 65
/
4
98% 62 984.99..
-J
98 1-2 Sale 981
NJ June ft gu 1st 4s...1930 F-A 95 100 105 Oct '02
104
Unified gold 48
97a4 Nov'10
N Y & Harlem g 346. .2000 M-N 1101
/
4
1040 2-3 .
93 Aug'10
Registered
1001
/
4
Deo'09
N Y & North 1st g 5s...1927 A-0 107 .
Oct
191 A-0
Sink fund gold Os
1094 Feb'11
109 10934
.N Y & Pu lst con gu g 4s 1003 A-0 11576 0814 11374
1931 61-N 109%
Ieb:0
19
1
9714 074
08 '
Coll trust gold 55
115 112 Jan'11
111% 112
Nor & Mont lat gu g 56.1916 A -0
E H & Nash lat g 08- 1919 2.0 112
Dec'10
1041
/
4
1041
/
4
106
Pine Creek reg guar 68.1932 J-D
13l's Jan '013
1,Cin & Lox gold 44a 1931 61-N 1223
12114 Nov'10
s
3.2
108
R W &0con 1st ext58./t1922 A-0 1074 108 108
1 108 108
N 0 8, AL 1st gold 06.-1930 3.3
118 118% 118% Feb'I 1
119%11838
'08
1930
Oswe & R 2d gu g 58. .e1915 F-A 100 105 105
N 0 do M 2d gold 68
1
4 Nov'10
It Web0T it 1st gu g 58 1918 M-N IOU
101 J'ne'10
Pensacola Div gold Os 1920 M-8 106 109 106/
113 Sep'10
102/
1
4Feb'10
Rutland 1st con g 443..1941 J.J
1921 M.S 114
1364
St 14 Div 1st gold Os
/
4
71 11 4 711
/
4 71%
M.8 71.4 73% 711
831
/
4 Jau'll •
85',, 851
86
Og&I,Chamlst gu 4s g1948 J.J
/
4
2d gold 35
a 92
93
9314
92 J'ne'09
5 M-N 03 Sale 93
95()
Rut-Canadlst gu g 43.1949 J -J
div 4s 198
Atl Knox &
112 Dec'10
St Law & Adir Lit g 58. 1990 J -J 1084111) 115 J'ne'01.1
A.t1 Knox & Nor 1st g 5819413 2-0 112¼
'00
Jan
110
103
2d
M-S
gold
Feb'08
Os
125
66.1031
Hender Bdge 1st81 g
90 Feb'111
95
90
96
Utica & Blk Itivgag431116
100 Nov'i0
92
°2 J.J
A--C 100
Kentucky Cent gold 43 1087 J.J
103 Dec'10
/
4
Lake Shore gold.34s....190 J-D 8378 893 89%
80/
1
4 11 .89¼ 66-*
L&N&M&M lstg4481945 31-5 1031
91 Jan '11
901
/
4 91
831
/
4
911
/
4
Registered
J
-J
46.1952
1997 J-D 8714 1384 8814 Feb'll
884 884
L& N.South K paint
112
/
1
4
Nov'10
112%
Debenture g 48
9378 32 934 94
1928 M-S 93% Sale 11378
Nila&b 1st jot g 56. .1937 F-A 110
11034
25.year g 4s
19103 3aie 9318
/
45 1945 J -J
93% 86 93
.N&0 Beige gen gu g41
934
110
110
110,
4
110
Ka
A
tit,
G
It
F-A
lat
guo
1414
11321
5819
931
8I
I --NJ
Pens & All 1st get g 13s
112 Feb'l 1 .... 112 112
Mahon 0'1 RR 1st 55 11134 J-J 11014 Sale 1108 110%
S & N Ala con gu g 55 1936 F-A 112 114
110%110%
02 Feb'll
92
02
94
Pitts & L Erie 2e1 g 5s.a11328 A-0 100
100 Dec'09
......
1,& Jell lidge Co gu g 46 1945 M-13 92
Pitts.61oK di, Fist gu 68.1932!J.J 1224
1301
/
4 Jan'00
LaNA&Ch See(11 84 1,
......
2d guar tis
19341J - J 120
AA ahon Coal See L S (SS M.8
961
/
4 98%
9714 97k4 Feb'll
McKees& 13 V lst giis 1918 J-J 107
Illanhattan Ry cousol46 1990 A-0
1931 m.8 109% 113 11(P14Oct'10
Mich Cent 58
104 Apr'uo
1990 A-0
Registered
............
97% 973, 9734 11 .9614 9814
119 J ne'06
Regiatered
1.931 4-6/1 1084
Stmpd tax exempt 1990 A-0 07
99 Jan'11
45
1040
J-J 974 90
Cent
99
99 •
ki
Y
See
tdoli'pt & 13 V
991
/
4
Feb'll
Dec
'09
993
6
98
Registered
995.3
1940 J-J
93
9935 9934
1911 J.J
blex Cent cons g 4s
3& 7 May to
J L & 8 1st g 348
1951 M-S 864 8818 90 .rue 05
a1939 3'1y
1st cons ino g 36
1st g 34s
2514 Apr'09
1962 M-N 87 4 874 87
87
87
20 cone ino g 3s trust roots.,
77 blar'10
ill% 29 91% 921
20-year deb 4s
112¼ 91%
/
4
Alex Internat 1st con g 48.1977 61.S 70
79 Nov'10
Bat(7 & Slur 1stgu g 36.1
113
°8
2
0
9
J
A
0
Stamped guaranteed...1977 11-S
100 May 110
Sale 9934
U034 1 991419(3',
NY Clue& St la 1st g4s 11)37 A-0
Alex North 1st gold 65.-1910 J -D
Registered
1937 A-0 1114 2 100 Deo'u0
611oh Cent Bee N Y Cent
9038 Jan'11
Debentures 45
1931 M-N
Mid of J Bee Erie
.
West Shore lat 46 gu 2301 34 10034 Sale 100% 1003
10
90::10
Bill L & W See Chic N W
91
1%
99/
1
4 9934
Registered
bill& North SeeChSI&StP
994i 10014
130 Jan'11
130 130
N Y db Greenw Lake Bee 2
Minn & St 14 1st gold 7s..1927 j.1) 130
E3r0143
1 j-j "%Sale
108¼
118 Jail'
07
N Y & Har Bee N Y 0& Had
Pacific Exist gold 6s...1921 A•0
1001
/
4 J'ly'10
N Y Lack & W Bee D 1431 W
South West Ex lst g 75 1910 J.D
6 1074 103
N Y L E & W &e Erie
1st °ousel gold 5s
1934 NI-N 109 Salt DAN 103
74
Jan
'11
74
74
N Y(*Long Br Bee Centof NJ
1st and refund gold 48 10411 M-8 714 74
87 blite10
/
4 1344 1
N Y N A & li-Conv 08_11148 J.j 134 Sale 1331
Des M 8o Ft D let gu
.'35 J.2 80 92
90 ,-,
Cony debeu 34s
0938 219
Minn & St L gu Bee 13 C
it&N
4a..
97% 20 9534 97%
liou8atonic It con g 5s "
974 971
/
4 97i,
6M
j-j
fi 19
hi StPds SSM cong 4intgu'38 J -J
1.937
19
258 flii. 1124 Oct'10
98 ia Jan.'10
107 Aug'uli
N IL & Derby con cy 65 1918 61.14 10186
6188 111 & A 1st g 4int gu 1926 J.J
N ir& North See N Y o ar li
Minn Un See St P h1 &Al
9734 18 9714 98
N Y 0& W re!1st g 45..g19132 51-8 9634 Sale 96
9634 1.1
/
4 9714
610 Kan & Tex let g 4s 1990 J-1) 97% 971
12 834 86
Regis *5,000 only
int 4 1014J'ne'00
854
89
g1992 M-11
20 gold 4s
g1990 if-A 8514 86
1011
/
41031
/
4 N Y & Put See ki Y C do B.
1944 M-N 102 102% 103 ¼ Feb'11
1st ext gold 56
10 7938 80
N Y & It B See Long Island
80
Be
2004 ALS 80 81
1st db refund 45
8914 124 8534 S674 N Y 13 & W Bea Erie
811 Sale 86
1936
Gen a f 44s
79
794
N Y Tex & M lies do Pao Co
2001 A-0 73
- St I,Div 1st ref g 4s
J'ne'10
103
Nor & South 1st g 58
1941 M-N 1004103 1034 Jan'11
103is 1011la
Dal & Wa 1st gu g 5s 194 31-N 105
/
4 Jau'il
1104 904 Berl& West gen g Os
8338 9u1
125 Dec'10
1031 M-N 12434
Kan 0 Pao 1st g 4s 1990 If-A
......
109 110,2
126 Mar'lu
109
Improvein't & ext g 08 1934 F-A 1244
/
4109
let gu g bs 1942 A-0 1094 1001
. 610 K
107 108
New River 1st g 6a
1932 A-0 12378 125 125 Jan'11
rig..
. MK&Oklatguos
1942 64.1.1 10634 108 108 Feb1.1
102,4 103
99
99
N & W Ity 1st con g 46 1906 A-0 9n14 99
/
4 100 103 Jan'11
38 98% 993$
61
T of T tat gu g 55 1942 51-S 1031
Registered
1996 A-0
98 Jan'11
98 98
Sher Sit & So 1st gu g 55 1943 J -D 102 106 1104 ApeuL/
931
/
4
Sale 93
103 105
Div'l lett& gen 84s 1044J -.1 1
031
/
4 13 92% 9"
/
4 105 Jan'11
Tex& Okla 1st gug6s 1943 .11-S 105 1061
/
4 71 109 1101
1101
/
4
10-25 year oouv 4s
1032; J.1) 105 Sale 1041
/
4 10038 80 10014103',
MoPaeific 1st con g 08
1920 M-N 1104 salt• 109
89
90
10041(11
Pocalli.
0
&
90
0
J
-D,
90
Joint
100
4 881
46
lin 'up. 101
101
/
4 901
/
4
Trust gold 5s stauaped.a1917 5199 Marl°
CO& T 1st gu g 5s
105 Nov'10
19221./41 104
Registered
a1917 31101
6 101314 1014
Solo V & N Ii. 1st gu g 45 1989 M-111/ 97% Sale 97
la% 10 9614 9714
/
4 101
1920 F-A 100% 1011
1st ooll gold 58
777
,
704
42
/
4
North
701
704
Illinois
Bee Uhl & N W
1945 M-8 70,s 3ale
40-year gold loan 4s
,Nov'00
North Ohio Bee I, Erie ‘il, W
9314
97
1038
8d 76 extd at 40
93,4
771 9114 0538 Nor Pao-Prior lion g 4s 11107 Q J i 10014 Salo 1004 1001
/
4 34 9970100%
1950 MS 1354 Sale 92 Jan95%
1st & ref cony Sa
'11
921
/
4
02
Registered
/
4
/
4 931
/
4 99 Jan'11
1997 Q-J I 98,2 991
Cent Br By 1st gu g 46.1919 f -A 921
9834 99
General hen gold 3s....a2047 Q--.6:I 7113, Sale 7034
85
87¼ May'lu
71
14 70'2 71
. Oen Branch U P 1stg 4s.11148 J
110 al,
Registered .
70% 70 Dec'10
a2047 S1--r i
Leroy& C. VA L 1st g 56 1920 3.3
978,
98
/
1
4
a
au
1
1184 I/81
St Faul-Dul Div g 4s
/
4
90
1 .96
1996 4 -D. 90 blue 116
• Pao It of Mo latex g 48.1:338 F-A
110 Deo'10
Dal Short L 1st gu 58 1910 111-13,
99 Feb'10
2d extended gold 5.8...1038 J -J 108 1
107% 1084 Ii 10014 195', 0 33 & (./ colltr 46 See Lit Nos
SU,IrM& Sgeu con g 581931 A•0 Ili818 Sale in
I
Sep
'013
8t P ds ki 2 gen g OIL 1923 F-A 1164
1181
/
4 Jan'11
1161
Gen con stamp gtd g56 1031 A-0
/
4 1161
/
4
854 79 834 85%
851
/
4 sale 838.
Registered certilio's 1923!4- F, 115% 1/0 111 FM3'10
Unified di ref gold 4s..10211 J -J
894 55 841
/
4 8614
St Paul & Del 1st 56
110 J'ne'lu
Riv &I+ Div 1st g 46..1033 M-N 864 Sale sa
1931I1 -A 10(34
.....
102,2Jall'
10
2d os
10234 Feb'll
19171A-0, 1024
Verdi. VI & W 1st g 5s.1026 M-8
102%
102as
98 Dec'00
1st Gomm'gold 4s
9(114 Apr'10
biobJ & K C 1st cons g 53.1953 J
...... ••••_
1008, J -_,.D
/
4 1 12078 122
/
4 1201
1201
/
4 122 1201
Wash Cent let g 48
9214 Nov'10
Mob & Ohio new gold 08..1927
1948;Q-11,1
. 1)1
114¼ 116% 118% 11634 O 115411634 Nor Pao Ter Co 1st g 08 1033'4 -.I 1111
Jan'11
1st extension gold 65../41927
/
4
111.14
111%111%
'11
801,
4
Jan
861
871
4
8014
/
4
Nor
ity
-8
Cal Bee So Pao
General gold 46
1033
/
4
1104 1104 2 1104 1104 Nor Win See(381,2.N1 & 0
hiontgom Div 1st g 55 1047 F-A 1101
73 May'U8
..
80
85
Nor & Mont !see .N Y Cent
St 14 do Cairo coll g 4a..e1030
Norlu
93 034
i 1 Ind do W klee I.;0 U di. St.1,
Guaranteed g 4s
1031
Vino thy RR, See Balt do t)
1.1 & 0 eon 4s See Southern
Ore & Cal Bee So Pao Co
Mohawk & Mal Bee N C&
Ore Short Line Bee tin Pao
Monongahela itiv Bee B &0
Oswego & Home See N Y (1
Mont Cent Bee StP .31
AI
Coast co let g 5s
1946 J-D 1074 10734 1074 Feb'll
tdorgan4 La T EeeSPCo
10514108
. ac of Missouri Bee Ido Pao
Morris & Essex. See Del 1,
/
4 10678 1064 Jan'11
106%1061
102
/
4 Penn UR 1st real eat g 48 1023 M-N 1001
NI ash Chat & St 141st 76 1913 J • J 1061
3 102 102
/
4 102 102
(ousel
gold
1919
31.5
1103
4
10914110¼
103
110
Os
110¼
A-0
10912Jan
1st oonsol gold 5s
'09
1928
10
10
8
5.
,
12j
D
Nae
on
ov 10
0
1
Consot gold 4s
• Jasper Branch 1st g 6s 1923 J-J 115%
1943 al-N 1001
/
4
1133% Dec'10
Convertible g 312s
lUC1
/
4
Al OM
W & Al 1st 66-1917
191261-N 9834 9914 987e
99
16 98% 994
Convertible g 3/
1
48
113 J'13'104 •••
1015' J -I) 96% salt I 11134
'212, P Branch 1st 68-.11317 J -J 10635
964 199 961
/
4 964
Consol gold 46
1948 MN 10375 mtie 11031
• Nash Flor & Shot See 1,as N
/
4 103* 17 10231,104',
Alleg Val gen gu g 4s 1942 M.s
/
4 Sale 94%
941
96 139 94% 951
Nat Bps of Mexpr 141..6 1957 .J
/
4
1004 10014 Jan'll .... 100141004
KB,
trd
J3ge
D
it,
1st
gu
88
46
8.'36
/
4 881
/
4 88
Guar gen 4s
89%
F-A ' 98
884
1977 A-0 871
PhilaBal& W let g 46-11.143 6I-N 10134
10034 10034
Natof Mex prior lien 4's 1926 J.J 101 101 10034 Feb'll
10134 Dec'10
Sod Bay & So Ist g 58. 1924IJ - J 100
1
4 Feb'11
/
4 844 83/
lst consol 48
8234 834
'102 .1'111'03
1051 A-0 831
1111
8,,
J
Can
U
N
gen 43.1944:M-8 100
New H D See N NIL 8511
1034 May'l0 ..
Penn Co-Guar let g 443.1021 J-J 103% Sale 10315 10338' 12 1031410414
If I Juno RR Bee N Y (lent
1siu
te
sr
Gua
ltei83
1921, J - J 10278
N Y Billn & Man Bell Bee 141
103% Feb'lu
coil trust reg 1937 It-S 87
Y()out& B. Ely g 348 1997 J.J
1 110 Aug'IJ .... •._..• ......
6834 28 88 90
88 Bale 88
Guar 312800n tr ser B...1941 F-A 88 83 I 894 Dec'10 ..,
Registered
88% 88 F011'11
1997 J -J
874 894
Tr Co Genii's gu g 346.1016 M-N I 9714 984 971
Deben g 4s
/
4 974 3, 97
1934 M-N 93 Sale 93
11:338 32 03 04
074
1942 J -D, 871
Gu 346 tr ctfs0
Lake Shore collg 311
/
4 00 1 87 Aug'Iu ....
/
4a 1998 F-A 8038 Sale 80%
801
/
4 18 80
8078
Registered
/
4str et/a I)
Gu 31
1944'2-D'
I 91 Dee'09 ....
1998 F-A 78% Sale 7838
7834 19 78% 79'4
61ISCELL 41NE011itl BONDS-Contlnued on Next Page
......
...
......
......
•••
iir
.
•
•
•
•
•
•
•
•
•
•
•
•
••
•••
•
•••
•
•
••
•
J)ac
......
...... ••••••11
Manufacturing ..Sk Industrial
Coal n.nd Iron
96', 9614 Allis-Chalmers lat 5s
1936 J.J
J-D 97
9614 Jan'11
78's Sale 784
1
7876 96 7614 78,
Debenture 55
a 1026 31-S
Am Ag Chem 1st o 3s
1928 A-0 102 Sale 102
921
/
4 90 Deo'10
10214 14 10134 102%
Am Cot 011 ext 41
/
4s
1913
Col 11' ea 1 Uri gen s 1 g 55..11343 F -A 981
/
4 99
98 Sale 9734
99 Feb'll ...i .
.0-1:2 99
13 974 98
98
Am Hide 31 L 1st s t g 66-11119 211.5 9934 IOU
Convertible deb g 58.-1911 IP A 991
/
41004 9934
91134 100
9934
991
/
4 9978 1 9614 100
791
/
4Sale 79
ColIndu 1st& coil 56 gu..1934 F-A
/
4 Amer Ice Scour deb g 63 1925 a-0 (i9/
/
4 791
1
4
791
/
4 28 761
Contin'tal C lots I gu688.1952 F-A 90
......•-•• AmSmelt&R sub rcts 66 NUN
f1024 Sals 1011
107% Dee'04
/
4
/
4 1027,, 34 10034 1021
A.m Spirits Mfg lst g 68-1915
Fir Itiv Coal &0 1st g 6s..19111 A-0
......
L0214 A'06
138/
1
4 100 10
88
1 34 Jan8
'
81341 ...
.
6 116
9
;
/ % ll6Aii,:
834
Am Thread 1st col tr 4s..1910 3'J
Jeff& Clear 031 I 1st g 53.1920 JD
107 May'97
934
9314 8'06'11 .. .
10134 1054 Deo'00
an&HO& Olstsfg 56.1901 J-J
Am Tobacco 40-yr g 6s....1944 A-0 1074 Stile 1064 1071
......
/
4 37.4 10434 1074
oc,ah Con Collier 1st s f 5s.'57 J -J
4s
85
83 J'ne'10
•
1951 F-A
unday Creek Co g 5s....1944 J J
Seth Steel 1st eat of 58..19213 J -J
78 Feb'07
7
;
,- 471-1
Ws
Ea16
.8
4
r3
)8
3
93
i 2t
/
4 10434 1041
elm Coal gen Os
1051 J - J 1031
/
4 104% 5 103% 1044 lent Leather 20.year g 56 1025 A-0 91)3 Sale
51
100
Tenn Div 1st g Os
/
41051
1051
a1917 A-0 105 10518 1051
/
4 (A:snail Tobacco g 46
/
4 Jan '11
1951 F-A
83,2 Salt 834
831
/
4 8 8
88
Birm Div let consol 08..1917 J -J 105 t{ 106 1014 Feb'll
10441051
/
4 Corn Prod Ref a f g 53.-193i M-N 05
97
9
96 Jan'11 ...• 96
Cah C .61 Co 1st gu g 66.1922 J•D 107
110 Jail'00
1934 611-N
1st 23-year at Os
97
7ig
9634 964
964 11
be Bar 031(Co gu g 66.1910 F-A
100 Jan '10
Cuban-Amer Sugar colltr 65'18 A-0
4
.2
iotor Fuel 1st s I 6s
874 Jan '11
871
/
4 81¼ Distil seoCor cony 1st g 56.'27 A-0 784 3.
1053 J.J
91e
9
78
6
2i
7 8
50 8
9
73
9
7%
86
n Coal&Colst g 53 1949 M-8 904 Sale 96's
961
/
4 4 954 061
/
4 E I duPont Powder 445 1936 J-D 8334 S35
8338 Jan'1 1
*No price Friday; latest bid and &liked. aDne Jan bDne Feb •Due May g Due.i'ne 11 Die Ply kDae Aug o Due Oct p Due Nov q Due Dec / Flat.
RIM& Susq Iron at 5s....1932
l
9:
591a6
PaIro
TP. IP
••
•
•
FEB. 18 1911.]
BONDS
Y. STOCK EXCH ANGE
1.1ziw,
WEEK ENDING FEB 17
New York Bond Record-Concluded-Page 4
Price
loridag
fel) 1?
'
I
Week's
IZZI! Range
Range or 0c2.
Since
I January 1
I Last Sale
BONDS
N. Y. STOCK EXCHANGE
WEEK ENDING FEB 1?
•c .1
7;.2 I
Price
lfridau
Feb 17
447
,
Week's
Range
Range or •.0; Since
Last Sale i` Januarg I
io
Pennsylvania Co-(Con) •
ARA. Low
11igh! No! Low High
I
/din
Ass' Low
Eight .1VoI Low Iiir/4
, Guar 15-25 year g 4s
9734' 10 97% 0934 So Pac RIL 1st ref 4s.. .19531J.J , 115/
1931 A.0 9734 Sale I 13734
1
4 Sale 05
/
4 t.538
95',126, 941
I
Southern-18t eon g 58....19114'j.J , 107/
'110 Jan '05'
; Cl& 1ar 1st. go g 4128 1935 M-N
1
4 100 137% 108 1 23, 107'2 108
I
! C14.4a P gen gitg 4128 ser A.'42 -J
'11034 Jan '09
Registered
101
)6
1994;j.J
177
10 Ma
34 P
Series B
Develop & gen 4s Ser A./956.rt.43' 7712 t:ale
,
1109ly
1942 A-C) 100'8
77 6O1 76
77%
06 Aug'091.
Series C 31
/
48
'
Mob & Ohio con tr g 43..1938t M-S.
1948 Al•N
80
88
ny'08,..
DO
Series 1)3/
Mom Div 1st g 41
1
4.1
95
90
1950 F-A
/
4•58. .1990! J.J1 107 18
10
8 108
88 Sei'101
8
4
.1
St Louis dIv 1st g ,La....11151Ij_,II 8612 88% 873
Erie di PIttegu g 322e 13 1940 J J DI 93 9236 Nov10;
i‘g 88
4
89 I 6
93
91
9834 Apr'04,1....
Series C
Ala Cen It let g 6s
1940 J -J
1918 J.J I 1071
/
4
1077
,Nov')0,.. I
/
4 Oct '091.
Cr IL& lex 1st gu /441
Atl & Dauv lat g 48
/
4319414-J 105 105% 1041
1948 J.,1
891
/
4 00 12 93 Nov'10'
'
Pllts Ft W & C 1st 7s 1912 J -J 103% 104 104 Jan'11.1.... 104 104
2,148
1948 j'..si
891
/
4 82% 821
/
4 Oct '10'. I
10378
.. 103/
Atl & Yad 1st g guar 48 1'3411 A.0 9012 5734
1912 J -J 1034
1
410378
2t178
I
/
4
107 Oct '08
//1912 A-0 1031
3d 73
Col & Greenv 1st Os
1916 j.3 106/
1
4
10638 Jan'11
100 May'10
E T Va ea Ga Div g 53..1
Pats Y& Ash 1st con 5s.19271M-N 107
193
910
6j
A i0
j 107,
4
11U ben'101
!,
1071
/
4
/
4
1071
1e0'11.
A...1940
A.-0
Con
gu
4128
St
lat
C
L
C
gold
&
P
5s
1071
/
4 10734
1956 xt.N 11034 1111
/
4 11034 1111
/
41" 8' 109781111
/
4
108 1071
E Ten reor lien g 58
/
4 Feb'111
1942 A•0
Series B guar
107 1074
1038 m-s *105
105 I 11 105 1051
•11/5
/
4
1071
/
4 Dec.'101
Ga Midland 1st Ss
1942 1/1•N
Series C guar
67
05 Nov'09•
908
Dee'10
981
/
4
1/88
1945.11-N
8
Series!) 48 guar
1110
3/
1
4
4 113%
. 11
101163
41
/
4
114
9138
93 Jan '11
1949, F-A
K
Ohio
Ua
nco
l'
xa&
j..i
cR
Genes E 31
O
/
4 guar g
113
Yh tlg
st4168. 1'942
25
2J
93
1953J -D
Mob & 131r prior lien g 581945 j.,1 105',
Series F 4s guar
j
i
N
gv
'
v ;0
ll °111..- 114
112
1032IA-O
113
Mortgage
113
gold 48
C St L & P let con g 58
1945 J.J
10 113 113
82 A ov'OS.
•
Rich & Dan con g 6s....1915 j.,j 10534 108 105% Jan'ill.- ItISii 105%
Pensacola & Atl bee L Se Sash
,Deb 58Atinped
Peo ea East See C.C•& St 1,
1027 A-0 106%
10534 Isov't 01
109
...... 112 Feb'10
Rich & Meek lst g 4s. .1948 Ai•N
1921,14-F
71
Pee & Pek Un 1st g Os
75 Oct '08
901
/
4 O7
01921111=X
/
48
2. eold 41
93 Jan'11
, So Car & Ga let g 55....1919 m-N 104 103 104 J au'11'.... 104 104
/
4 93,
931
013 Sale 00
Pere Marquette-Ref 4/4..1905 J-3
Virginia And ser C 68...1916 M-S 100
60
09
112 Oct'OW
4 66
ChJiWil5s
series D 4-5e
11121 J -D 100 10042 luu .. Feb'11
1921 M-S 103%
108.2 Dee'013
Lou',10078
Flint & P At g 0s...
Series E 5a
110 1101
1920 A-0 110% 110N 1101
/
4 Feb 11
/
4
1926 M-S 106%
107% Dee'th)
General be
1st consul gold Ss
/
4108 107 Jan'11 .... 11/7 107
1939 M-X 100 sale 100
1938M-N 11/71
/
4
100
4 100 1021
Pt Huron Div lst g 58 1939 A-0
1011
Guar stamped
/
4 1011
102 101 12 Feb'1 1
11136 M-N 1
1051
/
4 N,,,101
/
4
,06
Sag Tus& 11 Ititgu g 48 1031 F-A
Va & So'w't 1st gu 58.2003 j-j .10 112 110 Jan'11I.
.... 110 110
let eons 50-year 5s..1958 A-0 9634 081
Phil B & W See Penn ILE
/
4 07
971 1 941
/
4 971
/
4
Philippine By Istii0•yr 8144'37 J -J
91
W 0& W 1st cy gu 48..1924 F-A
86
88
01 Feli'10
/
4
871
/
4
87'3 3 87% 871
West N 1.) 1st, con g 6s..11)14 J -J 111412
Pitts Ulu ea St L See Penn Co
105 Jan'11'...- 105 105
S & N Ala See L as N
, Pitts Cleve & Tel See B & 0
Spokaue Internat 1st a bs 1955 J -J 103 105
• Pats Ft W ea Ch See Penn Co
102 102%
10516 Sale ign
Pats Al eficee & Y S'eoN Y Con
"
Int:5
;1051
.
18
1 H
/
4 10518
1101
/
4 112% 1101
Pitts Sit & L E 1st g 58 1940 A-0 11234 .
1121
/
4Dec'10,
/
4 11212
1121
/
4 Jan'11
Gen refund 8 1 g 46
Ilu I 98 Feb'11
let wheel gold 53
1953 J -J
I'ly'07
11/43 J -J
1)8
Vs
/
4 111834 109 Nov'l u
St L AI Bye Ter gu g58.1930 A-0 1081
Pitts & West ,S'ee B & 0
•
g 48
/
4 98,4 Tex & N 0 See So Poe Co
971
/
4 '0als 0714
127 7 J -J
9710 78 971
973, 9734 Tex& Poe 1st gold 5,9
2000 J-D 110% Sale 110% 1111
/
4 31 11034 111%
971
/
4 981
J •J
/
4 1)7.34 Jan '11
g2000 Mar
80
• Jersey Cent coil g
70 Alar'lO
.1951 A 0
97
971
/
4 '25 gold ine 58
97% 97',Feb'11
iktenesenier Stir See
La Div B List g Os
11)31 J -J
45..
1)
98%
103 Sep '0,3
,Rielt etc Dan See South Ity
W Min W & N W 1st gu fos'30 F-A
10t31
/
4 Nov'04
,
Rich & Meek See Southern
Tol & 0 C let g 58
1935 J -J 109 1101
/
4 1011 Jb eb'11 ....I 109 1101
/
4
• Rio Ur \Vest See Den & Rio GI
Western Div let g 5a 1035 A-0 110
112 Sep 'vu
I
'Hoch & Pitta Nee B II& P
General gold 58
1 1)35 J-1) 101%
103 12 Jan11
' •••. 102 1031
/
4
Rome \Vat & Og See N V Cent
Kan & Al let guy 48
11190 A-0 1)(138
9U Feb'll
90
90
Rutland See N Y Cent
1,738Sius 971
'2d 20-year 58
11/27 J.J
/
4
1171
/
4 14 971
/
4 97%
Qag Tus 8.0 11 See Pere Marq
Du
Tol P da W 1st gold 48....11.117 J -J
011
/
4 911
/
4 Dec'10
9712
9734
OW°& Or 181 hag 4s 1947 J•J
1
4 Saw 801
/
4
801
/
4 873, 87 Jan'11
891
/
4 15 891
8612 871., '2o1StL& W prlieu g3L23.11)25 J -J b9/
/
4 8913
St L ea Cairo See MOO ea Ohio
50-year gold 4s
1950 A-0 7178 5ale. 71's
74e,I 7176 747
.
St L4.1i Iron Mount See .11 P
81 12 811
/
4 Teli'll ...., 811
Coll tr 4s g Ser A.
1917 F-A
/
4 811
/
4
St L AI Br See T Vat A et St L
59 J'ne'll/
Tor Earn & 13tat 1st g 48./1.1.94ti J -I) 8634
1
St Lotus 80 IC-Jong tis 1931 J -J 119 1201
)Salo 10538 luU
1 lister& Del 1st con g 5s 1928 J-1) 111,5 4
/
4 120 Apr'10
8 105.
3 106
General gold 58
11131 J • J 1071
/
4
1341
/
4
V
let
'LW
refund
107 Jan '11
Oct
I
g
86
135¼
481952
107 1071
/
4
A-0
fit L & 6 11' RR eons g 48. '96 J -J
90
1t012 2 90', 11,0
811
1/1
Un Pac RR & 1 gr g 48_11)47 J -J Wu% sate 100 12 10038 137, 10012101
Gen 15-20 yr Os
13738
11)27 M-N
1947 J.,i 1001
871
/
4 Sale
8734 23 801
/
4
Registered
/
4 b8
9912 Jan '11 ....I £1912100',
Southw Div 1st g 58 11147 A-0 1011
/
4 sale 1011
/
4 101', 10 101 /
20-yr
couv
4s
1327 J.J 104 41 saie 104% 105.4 319, 10378 1111112
1
4 101%
Refunduig g 4s
1951 J -J
81'2 82
1st & ref Is
81%
132
sem eu1
80',. 132¼
/
4
95%02
1)200811-5 9
44 1313',971
41
/
4
KU Ft13&M con g 03 1928 M-N 110 11.13,
118 1161
,, ititi.Jan '11
Ore Ey & Nov con g 48.11046 J-1) 90 sale
/
4
WS
/
4' 19, 96
901
97
rer g 48 1936 A-0 7014 8ait. 70
: KC FLO& AI
731
/
4 31 771
ore short Line 1st.;tis..1922 F-A 115 Sale 114¼ 115
/
4 79'4
21147s 1151
/
4
M It& 11 1st gu 58.11)20 A-0 100
;
1st con8o1 g 58
1001
/
4
1046 J -J 112%112% 1121
••..
/
4 1121
/
4 1!1114
)1131
/
4
7 Oztrk& Oh lstgu 58 g.1913 A-0 98' Sale * 98%
Guar rotund 4s
98% 8 971
93% sak
/
4 98%
11329 J -D
93.2
9378 26 9234 9372
• St Louis So See Illinois Cent
Registered
11)20 J -D
94 Jan '00,
I
let
g
W
48 lid etia.1989 Al-N
,8tLS
7 89', 90%
Utah & Nor gold 58 19215 J -J 109
00.4 0054 901
/
4, 90
107/
1
4 Deo'llil ....1 ...... ......
)
25 g 43 me bond etfa...p1981) J -J
Uni .1‘.1 J RR ‘fa,0 Co See Pa EU
78
811
/
4 78 'an'll
78
'1
Utah Central See Itio Or %Yes
75/
1
4 13 75's 79
; °ousel gold 48
1932 .2-1) 771
/
4 78'4 783,
U tali & North See Un Pacific
• Gray'aPtTer 1st gu g 58 1947 J -D
117
101 18 Apr'07
Utica & Black It See N Y Cent
St Paul & Do! See Nor Pacific
audalia cense' g 48 ....1955 F-A
971
/
4
'St P Mum & Man See Gt..Nor
08 Nov'08.
. .
Cousol Is Series B...1957 M-N
961
/
4 971
'St P & Nor Pao See Nor Pae
/
4
97'2 971
/
4
UU1
/
4
Vera Cruz eiP 1st gu 11
;RP& Six City See()8tP
/
4/4_1934 .2-4
1/6 Apr110
............
A do A Pass latgu g48 1943 -J
/
4 Ver Val Ind & W See Mu .2
86% 87'4 871
/
4
V% 8 86% 871
Virginia Mid See South By
S if & N P1st sink rg 58 1919 j 100
104 Oct WU
113av & West See AU Coast L
,Sale 10914 109% 61 108%109%
I/ abash 1st gold 58
1939 M-N 1093
'IV 2d gold Ss
'Scioto Val & N B SeeNor& W
081
/
4 111)
9878
1030 F-A
/
4 9912
113I 7. 981
Seaboard A 1, g 4s stamped '50 A •0 804 8714 87
Debenture aeries B
871
/
4 64 8434 97%
100
I
1030 4-9
56 J'ly'10
, Coll tr refund g Se
let lieu equip a fd g 58. 11121 M-S IOU
1911 M-N lot) 101)%
100
100 1008
••••' lut/ 100
, Adjustment 58
1st hen 50 yr g term 48.1954 J -J
01949.1-A 7578 sale 75%
b3 Dec'10
82
/
4 77%
70's 147 '751
! 4t1-13irin 30-yrlat g 43 e11)33 11-8 804 sale 8634
lst ref and ext g 48
631
/
4 sale 6478
Me J-J
8934
85% 80%
051
/
4 480 63% 0578
, Gar Cent let con g 48_1949 J•J
Dot & ell Eat 1st g 58 1041 J -J 10734 109 12 108,4 Jan'11
92.
92 Oct'Iv
1081
/
4 1081
/
4
Dee Mom Div lea g 48-1931) J -J
! Fla Con & Pen 1st g 58.1018 J • J 102%
103 Apr'10
bil Dec'10
.
Om Div 1st g 3las
let land yr ext g 58 -.1930 J -J 103
1941 A-0 71
75
71 Feb'11..... 7
4
Tol
&
Ch
Div lat g 48 11141 M-13
lug%
Consul gold 58
1
1051
/
4
1943 J
811
106 1004s
83 Sep '10 •. ' ------..
4 3i/11'1/
Sla & Ala Ey'aeon 58°4945 J -J 105 1051
/
4
/
4 Wab Pitta Term 1st g 48 11/54 .1-1.) 451
1041
/
4 1041
/
4 104,
45', 45¼ .
1
1.;
Cent & Old Col Tr Co certls.
Ga Car & No lstgug 5a 1921) J • J 105
45% sate 451
/
4
104,2.W-1'
1.114 1041
/
4
11
404 65 431
/
4 475
2tt gold 43
199 Apr'10
Seab & Roe lat 58
19544-b
1112u J -J 105
71
/
4 61
/
4 Feb'll
' 6
61
/
4
Trust Co eert1a
Sher Shr & 8o Bee M
5%
.
T
01
/
4
1.1
7
Warren lied Del Lac & West
131.1 Sp Oca & U See Atl Coast L
Wash Cent See Nor Pat
'Southern Pacific Co1
Wash 0& W See Southern
old 48(Cent Pao coll) k1949 J
92's 6 0114 NI
921e
921
/
4 93
Wash Term! 1st gu 31
91 Oct '10
Registered
/
48-1945 F -A
90
90 Febill .. • , 8812 90
k1941/ J-1)
West Maryland 1st g 48-1052 A-0 81.11
/
4 Saie
20-year cony 43
983
.Salt
g1929 M.
86.2
1)0',97
99 15(1
US 12
8634 i1; 50', 87
W Va Cent ea P 1st g Us 1911 9-9 10038
Cent Pao let rot guy 4e1949 6'4%
964 Sate
IOU% 10038' 1 100%100%
/
4 (/7 12
061
97
6 14 leb
West ki Y & Pa 1st g 68-11/37 .14 110 1102 1101
Registered
8
'
6
14
'
0 20
1049 F-A
/
4 Feb'll ....; 1101
/
4 1101
/
4
Lien gold 4s
Mort guar gold 31
/
48..k1929 J -1) 92 Sale 1/2
/
4
88.5 Jau•11...
1943A-0 881
92
45 011
/
4 02
881
/
4 891
/
4
Income Ss
Through 8t 1, lat gu 48 '7'.)4 A•0
U31
/
4 Jan '11 ...• 02
I 31 11'0)W
112.2 93
i)314
81943 Nov
'
11.& SA AI JIIP let53 1931 M-N
1081
/
4 11/81
1081
/
4 West No Car See South Ey
/
4 Ja11'11
/
4 1081
•
,
Wheerg & 1, B let g 5s...1926 A-0 105 10512105 Feb'1 1
10434 ael/'09
• Gila V el ea N 1st gu g5s 11/24 M-N 103
104 105
Roue E & W T 1st g 58 1933 to-N 105 10534
Wheel Div let gold 53-1928 J -J 103 106 ;1031
/
4 YoU'll
1031
/
4 1031
/
4
10
05
3,
:4 M
AL
Y:u
19
0
Eaten & Imp gold us .11)3t) F -A IOU
1st guar 5s red
1933 M-N 105
'102
& T Wet g 58 int gu 1937 J -J 1091.8 110 1993, Jau'll
RR 1st cainsol. 4s.... -.1949 41-S
109 109"4
841
/
4 84
541 84
91
86
20-year equip 8 f Os .1922 J -J
1
4 Nov'00
Conedl g_ 6s list guar 1912 A-0 1081
/
4 11/93 109/
951
/
4
Feb'll
003 991
/
4
- Gen gold 4s int guar 11121 A-0 94
) 1/41
951
/
4 1)41
/
4 5 94., 1)51
/
4 Wilkea & East See Erie
Waeoea N W dlv let g Os'30 1/1-N 116
Wil & Sioux lf See itit,2 Al & Ai
1191
/
4 51a1;10
W113
Cent
let
el, N W 1st go g 5e
50-yr
gen
11141 J -J 1021
4e
/
4
'09
10712 Jail
19411 .T.J
9318Sale. 93
93/
1
4 19 98
931
/
4
Morgan'a La & T 1st 78 1018 A (./ 1151
Sup& Duidivds term 1st48'313 M-N
1161
/
4 Nov,10
......
/
4
02%
1)2', 93
91134 13 9234 93
let gold Os
/
4 112%
1920 J -J 1101
Telegraph
and
Telephone
A-0
1?
• No of Cal guar g 5s
ko
'ct:0
°
2 °
1938
1
1
Am Telep ds Tel con tr 4s 1920 J-J
• • Ore & Cal let guar g 53 1927 J -J 103'8
100
901
/
4 Sale 90
„.
901
/
4 97 90
91
Convertible as
!, So Pao of Cal-6s E
1936 M.S 10774 Sale 10734 108 640 105 109
1912 A-0 1017.102 10
iitn
o:0
12
1.1 .... 102 1021
4 j.3 J
/
4
51,1 ch State Tolep let 58 1924 F-A
1st gold Os F
1912 A-0 1017.102
08
119%
1)934
1
9934
.
lst con guar g 58
A Y Telep lst& gen s 1 4123.'39 11-N
/
4
1937 11-N 1071
1111 Alay'07
96% Sate 981
/
4
06% 49 981
/
4 901
/
4
Pac Tel& Tel let Sc
Pao Coast let gu 4s g 1037 J -J
1937 J-J
84
130 J'ly'09 •.•• ...
93
1)73,, bait 971
/
4
9734 91' 1/7
973,
San Fran Terml 1st 4e 1950 A-0 92% Sale 1.12%
West Union col tr cur 53 1038 J -J
U278 83 9234 93
9918 99% 9978 Feb'll
9912100
Tex&N °Sabi/Islet 868 1912 11-S 10112
Id and real eat g 41
/
48 1050 M-N
101% Dee'10
9534
951
/
4 7 95
951
/
4 sale ; 061s
',••• Con gold 5a
1943 J -J 101 105 102 Nov'09
.. Cony 48,Series A
1936 24.-N 103% saw 110334 10334 14 103 103%
I
...:Ii065,3 1065,
'Ittc(o)fiSgtd-(1t:t. g.*111-.1M it:,1
kr=
Registered
V
•
1111
.•-•
......
•+••
......
MISCELLANEOUS BONDS-Concluded.
Manufacturing & Industrial
ManuIaeturing &" Industrial
Oen Blectrio deb g 3/
1
4s..1942 F.A
81
81 retell •..• 81
/
4 ('a-Car Chem let 15-yr 58 1923 J-0 10134 Sale 10134 101% 10 1001
811
/
4 102
10-yr g deb 56
1917 J-D 1401
/
4150% 150
West Electric let bs Dec 1922 .14 101 Sale 101
1501
/
4 6 1404 151
101
11 1001
/
4 101
'Int Paper Co let con g tis 1111 f-A 103 104 1031
/
4 1031
1041
921
/
4 Westragneuse B & Mel 55 '31 j-J
/
4
/
4 Sate 921
103',
93
93
91%
/
4
26
; Consol cony s I g 5s
aluseellaneeus
1935 J -J
84% 861
/
4 86
8518
87
84
jut St Pump lets 1 5s 1929 Al-S 93 Satc 93 .93', 15 91% 0'3% Adanssilixooltrg4e
1948 M.8
901
/
4 90% 9012
901, 4 89% 91
Lackaw Steel let g 5s
real
est4,,s'39 J-1) 931
1923 A-0 911 Sale 9734
Armour &Co 1st
99
/
4 Sale 93
a 9618 90 Bush
93.4 37 921
/
4
/
4 031
Terminal 181 ts.-19
95
15
2 A-0 91
et Enam & Stpg 181 56 1929 J -D
951
/
4
951
/
4 95
1.5
9512
91
921
/
4 91
11 90
91
Cousol Os
Y Air Brake let cony Os'28 M-N 102%1041
/
4 1027
. 102%
J -J
1 10278 105
117
981
/
4 97
6 97
97
1st
a
/
58 1921 J -J
y Steel Spgs
071
/
4 Feb'l 1
071
/
4
/
4 97% Chic J 43 ea at Yard col g 58 1015 .2-4
971
951
/
4105 100 M.ay'10
epub I&8 1st& coltr 58 1934 A-0 1031
Nv
neomea
ka 4,28 194
1013
1 A-0
/
4 103% 10342 Feb'l 1 ••.. 1031
/
4 Det AI& Al Id gr i
/
4 1031
35 Aug'i0
50
mon Bag & P let 81 58 1930 J.J
Instit for Irrig
/
4
95
901
/
4 0434 911
001
/
4 95
1/6 Nov'10
96
Stamped
Int Melva= Marine 442s. 1922 A-0
94
94% 93
133
03
6 02
07% 72 04
671
/
4 67
081
/
4
lut Navigation let s 1 53.1929 F -A
13 Leath Co a fdeb g0a..1913 /XX 1041
/
4105 1041
/
4 105
/
4 103
80
1 1041
79
51 14 79 Feb'l 1
78
deb
cony
g5s
let
'24
sf41
Morris & Co
J -J
0 1939 J-J
8 Realty& I
90
80
80% 80 Feb'l 1
911
92
/
4 ill% 9134 Jan'11
91
N Y Dock 50-yr let g 43 1951 F-A
13 Bed& Ref let at g 68.1931 J-J
8634 85 Jan'11
88
84
85
91 Nov'10
91
89
Providence Sec deb 48
/
4 103% *I 103 104
8 Rubber 10-yr cell tr 63.'18 J -D 10334 Sale 1031
1957 44-N
87
87
87
85
84% 87
31 8 Steel Corp-5 coup 4/1163
105% '20 10334 105', Pub 8erv Corp NJ gen 58 1959 A-0 951
/
4 Sale 105
1051
/
4 961
964 Mg
/
4 96',Jan'11
! al 10.60 yr 63.1 reg _81963
/
4 105%, 2 103% 105% Wash Water Pow lst 56 1939 j-J 1011
10538 bale 1041
/
4
LOS A.ug'Iu
......
•NO pries Friday; latest bid and asked this week. S Due Feb 4 Due Apr a Dire May g Due J'ne ft Due J'ly kDae Aug oDne Oct pDae Nov sOption
lR
CHICAGO STOCK EXCHANGE-Stock Record-Daily, Weekly and Yearly
STOCKS-HIGHEST AND LOWEST SALE PRICES
Saturday
Feb. 11
Tuesday
Feb. 14
Monday
Feb. 13
Wednesday
Feb. 15
Thursday
Feb. 16
Friday
Feb. 17
*175 200
*112 212
*4
6
*9112 93
25
25
*878 9
614
*6
*4
418
*20
2012
70
*69
22
*20
*65
66
22
*20
62
*61
70
*68
*934 1019
*45
50
Last Sale 185
Jan'll
*173 200 *175 200
Last Sale 112 July'10
*112 212 *112 212
6
Last Sale 4
*4
*4
6
Feb'll
*9112 93
Last Sale 93
*9112 93
Jan•11
*2412 25
*2412 2512 2412 242
*2412 25
9
Last Sale 9
*87
*87
9
Feb'li
Last Sale 6
*6
614 *6
614
Dee'10
4
418 *4
418
4
4
*4
418
2012 2012 2012 *2012 21
20
203
78
6912 6912 6912 6912 6012 6912 -------*21
22
*20
22 *20 21
20
201-4
66
*65
66
*65
Last Sale 6512 Feb'll
*20
22
*20
22
Sep'10
Last Sale 20
*61
62 *61
62
Feb'll
Last Sale 61
*6612 68
*6612 68
*6612 68
68
68
10
10
10
10
10
'*934 1012 10
*45
50
*45
50
Feb'll
Last Sale 50
034 934
815 3134
0270
--9
12814 1-2814
78
*76
P11112 11212
14512 14512
g
45
45
4312 4312.,,,I
73
737
:„
*49
54
A
118
g
*1
3
*2
1.-4
49
4912
r4
12212 12219
';
:i
P152 15212
81
115 115
912
912
934 934 *IN 1111I *912 10
8114 8114 8134 3134 81
80
81
81
*270
__ *270
__
Jan'll
Last Sale 65
*...,.... 1-2-812 *„.... 12812
135
-- *125 133 *125
78
77
77
78
78
77
77
78
Last Sale 112 Feb'll
11212 *112 115
*145 146 *145 146 *144 145 *144
145
4712 43
45
47
49
49
45
45
44
4412 44
4534 4514 47
45
4578
77
77
74
7514 75
7612 7612 78
Feb'll
Last Sale 52
*--__ 50 *___- 50
Nov'09
118
Last Sale 1
118 *1
*1
Oct•10
Last Sale 3
*2
3
3
*2
5078 49.34 5014
49
4934 4912 5034 50
120
120
120 122
*121 123 *120 122
154
153 15312 *153 154 *153 154 *153
116
116
116 116
115 116
11578 116
Last Sale 13
Feb'10
---- --- --- -15
____ *14
*14
15
Last Sale 78
_
Jan'll
8 -9314 -9-4- 9358 9378 939 0312
"Hr., -9-3-1Last Sale .0112 - Jan'll
6419
61
;01a- V - -5iir2 -6-612 6412 66
*46
Last Sale 47
*46
__
Jan'li
50
50
50 -5.
0
49
4914 -5-0
49
98
*96
07
0712 9712 97
96
97
Last Sale 213 June'07
-__ --.. -- --*____ 21 s__
Last Sale 20
_
21
Nov'09
- 12312
*12212 12312 *12212
Last Sale 123 Feb'11
*125 130 *125 130
124 124
1-1-9--- ---_ --- ----- -__ 119
Last Sale 118
Jan'll
107 1-0714 *10512 107
10634 10634 106
103
Last Sale 11-16 alch'09
188
189
1.55T4 161-12 186F2 1761
187 189
121
12114
121 12112 *12012 12112 121 121
10114 10134 101 10138 101 10112 10118 10118
Feb'll
Last Sale 4
168
168
16714 f(C,‘;- Hi" 1-63- *167 169
101
103 10312 *103 10312 104
*103 104
6
*534 614 *534
6
614
*534 6
80
81.
8112 81
811
7033 8038 79
Feb'll
Last Sale 23
23
s22
23
*21
g
1478 1478
-6514 -9114
____ ____
67
67
*46
so 1698
*95
---- ____
21.
1.12212 12312
0125 130
--- --107" 10i7 loi 191
*12012 12112
1011.1 10133
0.163gi"
P10212 10412
*534 614
81
sus
*23
24
(....)ri
C,)
:,(4
,-4
*11112
Sales
of the
Week
Shares
Interjst
Prtoi
Price
Friday
Feb. 17
Week's
Range or
Last Sale
Highest
Lowest
Rai:roads
Chicago City icy
100 185 Jan 11 135 Jan 11
Chicago & Oak Park,, 100
Do pret
4 Feb 1
4 Feb 1
100
Chic flys part ctt
93 Jan 21 93 Jan 21
170 Chic flys part ett • 2"_-_
2312 Jan 12 2514 Feb 3
---- Chia flys part et! "3"...
8% Jan 23 10 Jan 28
Chic Flys part ctt "4"
--;(7) Waage Subway
100
412 Jan 3
3% Feb 2
170 sans City icy & Lt 100 20 Jan 30 2112 Jan 9
105
Do prat
100 6912 Feb 14 6912 Feb 14
260 ,,letropol %V 8 Elev
100 1912 Feb 1 22 Jan 3
Do prat
100 65 Feb 1 69 Jan 10
Northwestern Elev....100
Do pret
100 60 Jan 11 62 Fob 2
25 South Side Elevated_100 68 Jan 0 72 Jan 14
105 Streets W Stable C L_106
9 Jan 16 1012 Jan 4
Do
prat
1100)
10(
00 49 Jan 9 50 Jan 9
Miscellaneous
300 American Can
prat
Do
0_0_
American Radiator_ 100
pre
100
Do
25
53 Amer Shipbuilding_100
pret
Do
100
-"Ea Amer Telep & 'releg
878 (booth Fisheries ('om
652 'Voting Trust ctf
1)0 pre(
1,512
Cal & Chic Canal & D..100
Chic Brew'g & Malt'gDo pret
3:949 Chlo Pneumatic Tool _100
235 Chicago Telephone _ _100
45 Chic Title & Trust_ 100
427 Commoncylh- Edlso n _ 100
Do rights
-25 Corn Prod Res Co cornDo
CO
pret_
17665 Diamond Match
100
Do rights
1-,51.0 Illinois Brick
100
Tempie
---74-75 31.:Crum-1-Iowell Co_ _100
Do pref
127
Mliw & Chic Brewing_
Do pret
National Biscuit
100
Do
pre!
100
6 National Carbon
100
Do
pret
100
-555 People's Gas L&Colre-100
Do rights
2,119 Sears-Roebuck com-100
pret
100
Do
160
100
942 Swift & Co
Do rights
63 The Quaker Oats Co..100
pret
lot)
Do
153
30 !Jolt Box hid & P Co-l00
3,220 United StatesSteel coin__
100
western stone
2
834 Jan
76% Jan
265 Jan
12614 Feb
7134 Jan
11014 Jan
141% Jan
4012 Jan
3912 Jan
68 Jan
51 Jan
Range for l'revicrus Yeas
(1910)
Lowest
Highest
160 Oct 185 Mch
112 Jan
112 J'ly
4 J'ly
712 Jan
6038 Sep 109 Jan
30 Jan
1114 Seri
8 May
16 Jan
9% Jan
3 May
614 Aug
218 J no
39 Jan
20 Aug
7734 Mob
69 Feb
16 Jan
'25 J'ne
51 Feb
72 J'ne
15 Apr
23 J'ne
GO J'ne
53 May
5514 J'ly
7212 J'ne
7 J'ly
.5433Jan
40 J'ly 104 Jan
1331 Jan 11 1473 Feb 11
78 Jan 18 78 Jan 18
9212 Feb 10 9512 Feb 17
.01 Jan 4 .01 Jan 3
61 Feb 17 70 Jan 20
47 Jan 18 47 Jan 18
4518 Feb 1 67 Jan 3
96 Feb 16 98 Feb 2
658 J'ne
621, J'ly
240 Apr
1:6 J'iy
72 Feb
107 Aug
13114 J'ly
31 J'ne
29 Aug
50 J'ne
40 Dec
i Feb
:1 Sep
2512 J'ly
110 Mac
142 Aug
10812 J'iy
114 Jan
1312 J'iy
7914 Apr
8212 Sep
.02 Deo
53 J'ly
9312 Mch
40 Mch
93 J'ne
13% Jan
32 Jan
261 Dec
135 Apr
8412 May
112 Jan
142% Mch
43 Dec
41 Dec
74 Jan
55 Feb
1 Feb
3 Sep
41 Feb
137 Jan
163 Matt
1211 Jan
2 Jan
2234 Jan
82 Feb
127 ;an
.21 Dee
91 Mch
40 Jan
6712 Dec
10234 Apr
11714 Jan
123 Jan
11512Jan
118 Jan
10512 Jan
3
7
g
11
4
6
7
23
19
14
30
10 Jan 25
8234 Feb 2
265 Jan 9
130 Jan 14
79 Feb 6
112 Feb 2
14512 Feb 11
49 Feb 16
47 Feb 16
78 Feb 16
52 Feb 2
41 Jan 3 5078 Feb 16
115 Jan 25 123 Feb 10
15112 Jan 6 15334 Jan 18
113 Jan 19 116 Feb 10
17
3
11
18
3
12512 Feb 2
126 Jan 30
119 Feb 16
118 Jan 18
1085 Jan 19
101
118
104
112
103
Aug
J'ly
Feb
Feb
J'iy
119 Dec
125 Jan
145 Oct
123 Nov
11534 Jan
184 Jan 3
119 Jan 11
10014 Jan 30
1 Feb 3
166 Jan 25
10212 Feb 1
0 Feb 3
7214 Jan 3
21 Jan 16
10234 Jan 31
121% Feb 4
10134 Feb 7
10 Jan 16
170 Jan 13
104 Jan 6
7 Jan 3
8178 Feb 6
25 Jan 27
143 Feb
11612 Aug
100 Dec
18634 Nov
122 Idch
1093g Jan
155 J'ly
101 J'ly
514 Apr
185 Feb
106 Jan
1538Jan
15 J'ne
2638 Dec
Chicago Banks and Trust Companies
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Feb. 17
Range for Year 1911
STOCKS
CHICAGO STOCK
EXCHANGE
1.1'cis
Sold
Range
for
Year 1911
NAME
thaslandlag
Stock
t
Surplus
aril
Profits
1
Dividend Record
in
1009
In Per- Last Paid
1910 (od.
%
High Calumet National
3100000
543,936
6
High No. Low
6
An Jan '11, 6
Ask Low
Bid
10012 10012 Chicago City
500,000
226,028 10
10
J-1 Jan '11, 5
Amer Strawb0.1 1st Os-1911
10012 Jan'1 I
9233 03% Contl'tal & Comm Nat 20,000,000 9,722,053 ____
93%
93%
__ Q-J Jan '11. 212
,Armour & Co 4(43,._1039 .1 - 1) 0333 Sale
1
9018 9514 Corn Exchange Nations 3,000,000 5,569,320 12
9514
13
Booth Fish Co Deb G 5s'17 J. J
Q-J Jan '11, 4
9514
1
90
94
Drexel State
94
200,000
94
1,
31.317
3
Q-4 Jan '11, 112
Booth Fish Co Deb 58'24 J - J 94 Sale
1)rovers' Dep National_
600,000
414,934 10
10
Q-.1 Jan '11, 213
Cal & So Chia Its' Co
102 J'ne•09
Englewood State
200,000
41,195
0
6
Q-.1 Jan '11,113
1st al 5s„_1927 F . A
10114 Oct'09
totrst National
10,000,000 11,011,772 12s
J
lar Q-M Dec 31'10,3u
Cass Av & fe (.1 (St L) 58 '12 J
100 May'07
First Nat Englewood
150,000
10 Q-31 Dec31'10.2111
181,967 10
Chic Board ot Trade 4sI927 J -D
10234 32
1-6'178 Foreman Bros B k'g Co. 1,000,000
508,578
Priv ate Ba nk
Chicago City Ely 5s,,,1927 F - A 51024 6;IO 102%
103
Apr'04
Fort Dearborn National 1,500,000
423,646
8
Q-J Jan '11, 2
8
Chic Consol Br & Mit 65,,.. J - J
50
Apr'09
Hibernian B'k'g Asa'n_ 1,500,01/0 1,003,633
Q-J Jan '11, 23
ChicConsoi 'rrac 4 45s 1930 1 '[3
8 8+2
Kaspar State Bank__
200,000
162,441
10 10-1-15 J-J Jan '11, 5
Chic Auditorium lst5s1921) F - A
---- 9634 Jan'06
9412
Dec1:0
La Salle St National _ 1,000.000
263,162 Beg. b us. Ma y'10 V.00. P.1277
Ohio Jo 1111 1st Mg 5s_1945
---- ---- 87
Feb'06
Live Stock Exclrge Nat 1,250,000
Chia No Shore Mee 63.1912 A -0 ___
511,617 10
10 Q-M Dec31'10,211
5
0013
9018
91
90
8733 9018 Monroe National
300,000
Chic Pric root 1st 55-a1921
63,714
Q-F Feb '11, 1
4
4
9818 11
97%
11/27 11 - A 5 9778 Sale
9738 9819 Nat Bank of Republic_ 2,000,000 1,278,766
Chic Ry Is
8
8
Q-J Dec31'10.2
9434 Feb'll
9434 9434 National City
r1,500,000
418,761
6
Q-J Jan '11, 113
Chic Rys 4-5s series "A" A - () L.- 95
6
48
8334 Sale
84
8312
250,000
84,695
3
4
Q-J Jan '11, 112
8213 8418 National Produce
Chic flys 4-5s series "B" J 9012 WW1°
90
- A
83
North Avenue State
200,009
73,808
535
635 Q-J Jan '11, 134
Chic Rys 4-5s series "C''
29,746
6
6
Q-J Jan '11, 113
- A 1100 10014 10014 Jan'll
50,000
"tio; 1001. North Side State Sav'gs
Chic Rys coil Gs_1913
Jan'll
100
4
Q.) Jan '11, 114
100 100
North West State
2(10,000
21,320 ___
Chic flys Fund 6s_1913 •'A
9778
3
7
Q-1 Dec31'10,2
97%
300,00()
10:1,992 ___
9773 9778 People's Stk Yds State_
I 9778 Sale
Chic icys Tens Ctrs 1st Is
6 Q-M Dee30'10,113
. 6012 Aug'08
6
Prairio State
77,207
51.10,000
Chic it I & P RR 45_2002
6613 July'08
Railway Exchange
250,000
31,450 None None ____ Jan '08, 2
Collat trust g 5s...._1013
43/4 Q-J Jan '11, 113
1 102 1-621; Security
10214
145
300,0011
193,493
10214 Sale 10214
Chic Telephone 5s...,_1923
7ys Q-J Jan '11, 2
101% 38 10073 10133 South Chicago Savings_
201),(1011
10112 Sale 10113
02,000
6
Commonw- Edison 53_1043
6
Q-J Jan '11, 113
10078 Nov'10
South Slde State
200,000
114
8,701
Chic Edison deb 6s_1013
Q-J Jan '11, 3
12
2 165 fig" State Bank of Chicago
100
100
1,500,000 1,868,350 12
1st g 3s__July 1926
tiOF
8 Q-M Dec31'10,2
100% Aug'09
Stock Yards Savings
250,000
186,970
8
Debenture 6s
1920
6 61-8 Nov '10, 3
10114
1011 1
1 16554 161174 Union Bank of Chicago_
6
200,000
41,261
Cornmonw Elect 5shl 943
Sale
SaleI10'i
,
100.0P)
8,604 See V. 90, P. 159
Dia Match Con db 6s T rcts
10314 12 10012 10314 Washington Park Nat'l
10314 Salo 102%
Wendell State__
50,000
80
Dec'08
8,719 None None Q-NI Dec.31'08,113
Illinois runnel 5s
1026 J -I)
---73,6 Q-J Jan '11, 2
Central Trust Co ot III_ 2,000,000
963,350
7
Kan City lly & Light
0
Q-J Jan '11, 113
1
4 Tr
n500,000
6
110.331
963 9638 Chicago Say Bk i/
Co 3s
1913 4' N
97 -- 0638 Jan'll
9734 97'14 Chicago Title & Trust
73 (1-J Jan '11.2
5,000,000 11,627,093
6
0734 Feb'll
Knick'b'ker Ice 1st Is 1928 A 8 0834 99
Citizens 'rrust & Savings
A-0 Oct 9'10, 3
6
50,000
4
8,045
7812 Feb'll
Lake St E1-1st 5s_1928 j.J 73
80
81
77
600,000
447,918 8+2 8+2 Q-J Jan '11, 213
Income Is
1925 Feb --- -- 10 Slay'05
_.... -- Colonta) 'Irust & Savings
Coat & Conina Tr & Say_ 3,000,000
Metr W Side El-434,527 .... - 8
Q-J Jan '11, 2
200,000
8314 Sale
131,870
8
5
1st 43
8318
8314
1038
-A
8213 8314 Drovers' rrust&SavIngs
Farwell Trust Co
1,500,000
6
Q-J Jan '11, 113
199,458
18
Extension g 4s
3
7912
80
1938
80
- J
79
7813 80
Trust
&
Savings
Q-M
First
2,500,000
12
Dec31'10.4
Morris & Co. 4 SS
3,151,586
16
4
1930
- J 9134 Sale
9034 9134
0134
9134
200,000
9818 13
North West El 1st 4s_1911 %I. S 98% Sale
23,829 Incorp orated 1908 V.87.1).1138
98
9618 9334 Guarantee Trust & Say_
Harris Trust & Sayings_ 1.250,000 1,502,268
935 11+5 Q-J Jan '11, 3
No W G-L & Coke Co 33'23 Q '51
99
Apr•10
q Jan '11,4
Ogden Gas Is
9278 Feb'll
1943
-N
-.
1-i212 9314 Illinois Trust & Savings 5,000,000 8,887,214 16-1-4 10+4
Kellwood Trust & Savgs
200,000
Pearsons-Tatt Is
5(1,962
63( 7+ 1Si Q•J De3110.1341
1914
-L' 9312 -- 100% alcle09
Lake View Trust&Savgs
200,000
5
15S5 Q-J Jon '11, 111
42,714
4.405
%I 9612 alch'10
93
Merchants' Loan&Tr Co 2,000,000 6,084,164 12
.ti. N
12 (asi Jan '11,3
4.605 Series E
97
Feb'10
96
sletropolltanTrust&Say
750,000
ki N
8
6
Q-1 Jan '11, Di
237,064
4.805 Series to
9313 Meh'10
9712 -_
Michigan Ave T: Co
200,000
60,665 Beg. b us. Oct 20'1 OV91,p.1221
12134 May'09
Peo Gas L & C 1st Os_1943 A -0
Northern Trust do
1.500,000 2,455,651
8
Q-.) Deo31'10.2
8
1017 Feb'll
Refunding it 5s----1947 St. 110173
200,000
72,600
0
6
J-J Jan '11. 4
10112 1-61-7t103 10312 10314 Jan'll
8 North-Western Tr&Say
Chic Gas L&C 1st 581937 J
- I) :101 10112 101
500.000
156,159 Beg. b us.Deo 1'10 V. 92, p. 96
Dee'10
10314 10312 People's Tr & Say Bk.
Consum Gas 1st 53_1938
Trust
&
Savgs.
Pullman
NI
N
3110,000
8
235,977
Q-J Dec31'10,2
8
2.--- 10112 10034 Oct'10
Mut't Fuel Gas 1st1531047
Sheridan Tr & Say Bank
J / 9312 Sale
200,000
21,435 Beg. b us.rly 12'S .1 V.89.0.141
7
93 94
South Side Elev 43s.1924 J
9312
9373
1,000,0(k)
100% Sale 10014
262,636 Comm imbed bus. Sept 6 1910
Swift & Co 1st g 5s_-1914 .1 10034 27 100no% loStandard Tr & Say
200,000
35,788
53i J-J July '10,3
_--- -- Stockmen's Trust & Say
5
88
Apr'10
Union El (Loop) 53-1943 A - 0
Union Trust Go
1,200,000 1,215,487 k8-1-2 8+2 Q-61 Dec31'10.2
161
70
Apr'10
United Box Board col 6326
1Vest'n Trust as Savings 1,250,000
86
5312 60
J - J
56
85
148,248
6
5
Q-.1 Jan '11. 113
General mtge 65
Feb'll
200,000
Tr&SavBank
West Side
6 Q-31 Dec31'10.2
8012 July'08
121,038 ......
Western Stone Co 5s__1909 A 0
Woodlawn Tr&Say Bans
200.000
55 822
I1
714 04 .1tan '11.2
Note.-Acerued Interest must be adddto all Chicago b ond prices.
* Bid and asked prices; no sales were made on this day. t Jan. 7 (close of business) tor national banks and Jan. 9 (opening of business for State institutione;
v No Price Friday: latest price this week. a Due Dee, 31. b Duo June. k Also 20% in stink. n Capital and surplus to be increased. q Dividends are paid C14,,,
Ith extra payments Q-18. r Proposition to Increase capital to $2,000,000 ratilled Jan. 10. See V. 92, p. 96. s In addition the equivalent of 4% more (fame frost
e An extra payment of 1ai% was leade
Irirst Trust & Savings Bank, 1 Dec. 31 1910. u In addition the equivalent of 1% came irons First Trust Ss Savings Bank.
Nov. 10 1910. yNov. 11 1010. a An extra dividend of 2% was Paid Dec. 20 1910.
Dec 14 1910- to See V. 01, p. 1551. 72, 17,
FEB. 18 1911.]
THE CHRONICLE
449
B04
Companies
Volume of Business at Stock ExchangesElectric
Chicago Edison Co-See Ch eago
Bid Ask
Ask
list
industrial and Miscel
Gr't West Pow 58 1946__J-J 85
87
6 Crucible Steel
100
-- 19
e Kings Co El L & P Co_100 130 131
e Preferred
um -811-4 8113
TRANSACTIONS AT THE NEW YORK STOCK EXCIIANGE
Narragan (Prov) El Co__ _50 *._ __ 96
Davis-Daly Copper Co_ _ _10 *138 112
DAILY, WEEKLY AND YEARLY.
N Y & Q E1L &Pow Co_100 50 __ _ e Diamond Match Co_ _100 95
9513
Preferred
100 81) __ duPont(E I) de Nem 1'0 100 140
United Electric of N J.._ _100 75__ _ 85
Railroad,
Stocks.
e Preferred
100 83
1st if, Is 1949
U. S.
Stale
' J-D 78
&C.,
79
e Gold 45is 1936_ _ _ _J-D
Week ending
8334 85
Western Power com__100 32
Bonds.
Bonds.
Bonds.
Shares. I Par value.
7
-Feb. 17 1911.
36
Electric Boat
100
Preferred
40
100 62
Preferred
65
100 35
$138,000
15
124,872 $11,179,700 51.547,500
Saturday
Empire Steel
100 10
Telegraph and Telephone
HOLI DAY
Monday
Preferred
100 55 62
1
e Amer 'releg & Cable
159,000
2,716,500
100 82
300,378: 27,602.800
851: e General Chemical
Tuesday
100 x120 130
353,8571 32,932,700!
1,948,500 1,967.501)
$5,000 e Central Sc So Amer__ 100 118 120
Wednesday
e Preferred
100 104 106
Comma Un Tel (N Y). 25 105
214,500
714,234 62,883.400
2,900,500
Gold Hill Copper
Thursday
1
os
2,502,500
5,000 Empire Sr 13ay State Tel_100
366,000
467,065! 41,519,000
Friday
Greene-Cananea
20 *131s 638
Franklin
100 6340
50
Guggenheim Explor'n_100 210 220
1,930,4064176,117,600, $11,675,500 $2.845.000 $10.000 e Gold & Stock Teleg__ _100 110_ e Hackensack Water CoTotal
e Northwestern Teleg_ _ _50 110 118
Ref g 4s '52 op 1912 J-3 83 Pacific Sc Atlantic
"5 60
_ Flail Signal Co corn
2(.) 30
10e
Week ending Feb. 17.
Jan. 1 to Feb. 17.
Sales at
e Pao Teiep & Teleg pret 100 DO
Vi Havana Tobacco Co__ _100 5 8
New York Stock
&
Atlantic.
Southern
25
DO
100
16
Preferred
100 10
1910.
1911.
i
1911.
Exchange.
1910.
1st g Is June 1 1922 _J-D 63 68
Companies
Ileeker-Jones-Jewell Milling
1,960,40.31
3,781,284
37,490,647 13 & Ferry
17,339,357
Stocks-No. shares_ __
lot
N
Y
63
1911____J
-J_
94
1st 65 1999
m-8 103 105
$176,117,600 $329,207,000 $1,523,193,825 $3,413,706,200 N
Par value
Y & E It Ferry stk._ _100 -1-5 - 25
Herring-Hall-Mar new_100 15
30
$11,800
$5,000
$60,900
$238,200
Bank shares, par
1st Is 1922
51-N
50
60
Ilobokea Land Sc Imp 100
Bonits.„„„ N Y & Hob Is Stay '46_J-D 08 - __
1st 53 Nov 1930
1-65
$10,000,
$10,000
Government bonds ..
$42,000
$060-aa,
Hob Fy 1st Is 1946 M-N 100 10812 Houston Oil
100
8 8
7
4
2,845,000!
6,574,500 N Y & N J 53 1046
685,500
State bonds
29,101,500
J-J
- -49
Preferred
100 48
11,675,5001 14,514,000
128,221,000 10th & 236 Sts Ferry...100 9712
108,801,000
RR. and misc. bonds_
20
0-0
Hudson Realty
100 ii))
1st mtge 5s 1919____J-D 65
75
c Ingersoll-Rand corn. 100 05
$14,530,5001 $15,209,5001
Total bonds
$137,944,5001 $134,861,500 c Union Ferry stock.
26
100 23
e Preferred
100 94
e 1st Is 1920
1N1-N 95
98
Intercontinental Rubber 100 3114 3134
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Internat.
( Banking Co.,.100 130 100
EXCHANGES.
Short-Term Notes
International Nickel._ 100 180 195
Am Cig ser A 45 1911__M-S 100 - __
Preferred
93
100 01
Philadelphia.
Boston.
Ser B 4.3 Mch 15 '12_ _M-S 9912 9034
1st g Is 1932
A-0 9312 9412
Week ending
• Balt & Ohio 41as 1913_J-D 9934 100
International Salt
4
100
Bond
Listed
Unlisted'
!Unlisted
Bethleh Steel as 1914__M-N 9714 9758
Feb. 17 1911.
Bond
1st g Is 1951
Listed
A-0 I 50
53
sales.
Chic de Alton 55 1913__M-S 0137e 9918 International Silver__ 100 50 65
shares.
sales,
shares. shares,
share,s.
-----.-----,
Cin Ham & D 9s 1913....J-J 9838 9834
,
Preferred
100 114 118
3.469
$29,000
1.70.3i $81,600 C C C &St L Is. June 1911_
15,325
6,157
10018
-Saturday
1st Os 1948
J-D 110 112
lit lsonCompaniesHOLI DAY
Monday
Internat Smelt & Refg 100 120 130
88.995
7,333
Os Oct 15 1911
10,5961
2,0011
47,000
11,460
Tuesday
A-0 10038 10034 Internat Time Record_100 183 200
34,342
65 Feb 1 1913
3,515'
7.367
72,000
8,285!
16.476
Wednesday
F-A 9838 9871,
Preferred
100 110 115
7,707
87,000
18,302
18,3359,6271
75.414 Interb 11 T g 6.3 1911 M-N 10014 10034 Jones Sc Laughlin Steel C.
Thursday
6,865
16,2711
70,282 K C By Sc Lt (3s '12
23,000
14.546
Friday
o,00sJ
_M-S 9078 10018
1st s f g Is 1939
AL-N
10258
Minn Sr St L g as 1913_ _F-A 97
9753 e Laakawanna Steel_ ___100 -38r
59.0111 32,741 $258,000
76,142
Total
26,9011 $350,633 e N Y C Lines Eq Is '11-'22 1,412% 414%
e 1st con Is 1950
85
M4
4 is Jan 1911-1925
5412% 14%
e Deb Is 1915
M
93
NYNH&11 68Jan 1912 10012 10118 Lanston Monotype.
'II). 9434 95
45a5 Mch 1 1112-__M-S 10018 10012 Lawyers' Mtge Co
100 245 250
St L & S F 434s '12 op_F-A 6938 9934 Leh .S: Wilkes-II Coal
_50 250 275
Is Mch 1 1913
All bond prices are now "and interest" except where marked ''1."
M-S 0758 9814 e Lorillard (P) pret
100 135 145
F-A 99
South By g 53 1913
9914 Madison Sq Garden
45
100 25
tidewater 6s, 1913, guar___ 1.0158 10218
2d 65 1919
85
1.1-N
Bid
Railways
Ask
Street
Bid Ask
Street Railways
Wabash 44s 1913_ _ __M-N ____ _- ._ Manhattan Transit
20 *1
•
West Teter) & T Is '12_F-A
_ -- May Dept Stores
100 62
New York City
Pub Serv Corp N J (Con)Westingh'se El de al 6.3 1913 1-013- 1021
Preferred
100 107 10812
22
Bleeck St & Ful Fy stk..100 18
New'k Pas fly Is '30_ _J-J 108 __.
........Monongahela it Coal
A-0
notes
Oct
1917_
65%
50 *734 814
J-J 55
65
1st mtge 45 1950
Rapid Tran St fly._ _ _100 240 250Preferred
50 *22
2212
100 121 142
1st Is 1921
B'y Sc 7th Ave stk
____
102
A-0
113 115
Mortgage Bond Co
100
Railroad
1914
J-J 99 101
J C Hob Sc Paterson2d mtge 53
•
Nat Bank of Cuba
100 100 103
Chic Poor ar St L.Con 53 191 1-See Stock Exe list
4s g 1949
M-N 77
78
11:0
National Surety
Prior lien g 43s '30_M-S 1 90
100 186
94
Wway Surface 1st 5s gu 1924 103 104
So .1 Gas El Sc Tree .100 132 _ _
_ e NevadaCons'dCopper. See Stk E x list
Con mtge g 55 1930___J-J 1 45
_ 90
Cent'l Crosstown stook_ _100
Gu g Is 1953
al-S 9712 98-1.
Income Is, July 1930....
10 *1
'
--liii
-- Nev-U tab Min ScSin
No Ilud Co fly 65 1914 J-J 103 115
1st mtge 6s 1922.... _M-N 1 -8-6 85
Chicago Subway
60
100
378 414 e New Central Coal
20 30
at)
5s 1928
Cen Pk N & E Rh.stock_100 15
J-J 103 105
Nat ltys of Mexico-See St Exe list N Y Alr 13rake 6s-SceStock Exc list
Ext Is 1924
Chrlstopha & 10th St stk 100 83 95
M-N
- Northern Securities Stubs__ 101 105
e New York Dock
35
100 20
Pat Ity con Os 1931__J-D 115
1-1-7
Col Sc 9th Ave Is-See Stock Esc list
98.
.Pitts Bess Sc L E
50 *30
e Preferred
35
100 95
28 6.3 opt 1914_ _A-0 100 103
Dry Dock E 13 & 13Preferred
74
N Y Mtge Sc Security,,..100 215
50 *64
J-D 95 100 So Side El (Chle)-See Ch leago list
1st gold 5.3 1932
e Railroad Securities CoN Y Transportation
90 *3
40
Syracuse It T Is 1916.M-S 100 103
F-A / 30
Scrip Is 1914
III C stk tr ells ser A-52 90 95
Niles-Bern-Pond com
100 95
98
Trent P Sc li 55 1943......J-D 97
99
Eighth Avenue stock_ ..100 250 325
Seaboard CompanyNipissing Mines
5 *113ie 1138
F-A / 95 100
United Rys of St LScrip 65 1914
100 81
1st preferred
..
Ohio Copper Co
10 *158 184
Corn vot tr ctts
100 1014 1034
42d Sc Gr St F'y stock. 100 250 300
Corn Sc 26 pret-See Bal t Exc list e Ontario Silver
11.
100
214
-_
---100 3914 3912 Seaboard Air Linee Preferred
426 St M Jr St N Ave_._100 _
Otis Elevator corn
100 57 - 62
- 2.M-S
Gen 45 1034--See Stock Exc list
1st tntge 6s 1910
Preferred
Coll Is ext May 1911_M-8 1031s 10014
100 97
99
Exe
2d income 6s 1915„-J-J / -40
list
Stk
60
0512 Pittsburgh Brewing
Unit'Ws San Fran-See
2418
West Pao 1st Is 1933_ _31-3 95
50 *3412
Wash fly Sc El Co
Inter-Met-See Stock Exch ange list
100 34
Preferred
50 * iii; 4312
Lex Av & Pay F 59-See Stk 1.3xe Itst
Preferred
100 8712 88
Pittsburgh Coal-See Stock Exc :st
Industrial and Miscel
list
Erre
fly-See
SU.
10012
St
Metropol
4s 1951
J-D 8512 80
101
Pittsburgh Steel pref___100
Adams Exp g 45 1947_J-D 1 88 91
Ninth Avenue stock_ _ _ _100 155 180
Pope Mg Co corn
100 54
25 *170 183
Ahmeek Mining
56
16
Second Avenue stock__ _100 10
Gas Securities
76
100 74
Alliance Realty
Preferred
100 120 125
55
F-A / 51
Consol Is 1948
American Book
Pratt Sc Whitney pref. 100 10212 105
100 160 165
e Sixth Avenue stock.. 10() 122 130
New York
American Brass
100 123 120
100 142 113
Producers 011
85 Cent Un Gas 55 1927_ _ _ _J-J 102 103
Sou Boulev Is 1945_ _ _J-J 75
American Chicle com-100 230 233
Realty Assoc (Bklyn)__ _100 105 110
92 Con Gas (N Y)-See Stock Eva list
So Fer 1st Is 1919
A-0 88
Preferred
100 103 106
Royal Bak Powd corn_ _ _100 180 135
e Mutual Gas
Third Avenue RR-See Stk Me list
100 170 -.8
15
Am Graphophone corn _100
Preferred _
101 107 108
New Amsterdam GasTarry W P & la 5s 1928._ / 5) 80
Preferred
100-__ 30
Safety Car Heat Sc Lt..- _100 124 126
1st consol Is 1948_
Y'kers St RR Is 1946 A-0 80 93
J-J 10034 10134 Amer Hardware
100 129 131
Seneca alining
2.5 •
- 15
28th Sc 29th Sts Is '96...A.-0 .1 18
25
N Y & E R Gas 1st 53'44 J-J 102 105
Am Malting 63 1914.-J-D 100 102
Singer Mfg Co
1ti 330
100 3-.
Twenty-third St stock--100 191) 213
Consol Is 1945
J-J 98 101
100 95 100
Amer Press Assoc'n
2
South Iron & S com__..100
6
N Y Sc Richmond Gas_100 42
Union Ity 1st Is 1912_ F-A 101 104
48
Am St Found new-See S tk Ex list
15
Preferred
100 10
75
Nor Un 1st 5.3 1927_ ___M-N 98 101
Westchester 1st 53 '43 J-J 65
14
A-0 102 103
Os 1935
Standard Cordage
100
-e Standard Gas corn....100 n 60 -71
1st 111 g 5.3 '31 red__ _A-0 f -1-6
F-A 70
Deb 9s 1923
18
e Prete Ted
10071 le)
Brooklyn.
Adjust M Is Apr 1 1931__ 1 1
50 245 250
American Surety
a
1st Is 1930
M-N 102 106
Atian Avenue RRAmerican Thread pref._ _ _5 *434 514 Standard Coupler corn_ _100 37
42
A-0 101 103
Con Is g 1931
Preferred
100 100 110
Am Tobacco Co corn....100 436 439
Other Cities.
51
Standard Milling Co___ _100 16
B 13 Sc NV E 55 1933_ _ _A-0 97 102
18
Amer Typerders corn.._100 49
Am Gas & Elea corn
10 105 170
50 *5212 5312
Brooklyn City Stock
Preferred
100 10) 10212
100 50
54
Preferred
Preferred
50 *42 43
Con 53-See Stock Exch env list
1st Is 1930
Al-N 85
88
Ai-N 99 101
Deb g 6s 1939
Amer Light Sc Tract.._.100 287 290
131clyn lIgts 1st Is 1941 A-0 98 102
212 Standard Oil of NJ
100 635 638
2
Amer Writing Paper_ _ _ _100
Preferred
100 1041)101?)
Bklyn Queens Co Sr SubSwift Sc Co--See Boston Stk Exc list
ePreferred -See Stock Ex ch'ge list
*12
Bay State Gas
50
0 1st g Is '41 op 1916 _J-J 08 100
1st Is. See Chicago Stk Exc list
61st s f g Is '19red 1051-J 8934 00
5s
97
98
13inghlon (N Y) Gas Wks
e 1st CCM 54'41 op '16 11-N
91) 1012 Texas Company-See Stock Erre List
Atl (Ill Sc W I SS Lines__ 100
1st g Is 1938
Bklyn Rap Tran-See Stock Erre list
A-0 95 100
95 100
Preferred
100 25
26
e Texas Sc Pacific Coal..
100 60
75
Brooklyn Un Gas-See 6th Era, list
Coney 1st & Barya
Col tr g 5.3 1959
100 135
J-J
7112 7214 Title Ins Co of N Y
83
Buffalo City Gas stock. 1005
18L sops g 43 1948
J-J 78
6
Barney Sc Smith Car.. _AOC) 25
27
Tonopah Min (Nevada).„1 *818
80
J-J 75
1st 5s 1947-See Stock Fxc list
Con g 45 1955
Preferred
100 ____ 95
4
8
Trenton Potteries cora_100
Cities Service Co
100 68
7))
Brk (3 Sc N 55 1939_ _ _J-.1 08 101
Bethl'm Steel Corp-See S tic Ex list
Preferred new
100 ZO
55
lit
Preferred
Kings Co El 4s-See Stock
100 78
8012 BILss Company corn_
50 122 125
Trow Directory
100 30
100 .........Con Gas of N J Is 1930 _J-J 90
Nassau Elea pest
04
Preferred
50 12:3 126
Underwood Typewriter_ 100 6214 6313
A-0 103 1-05 Consumers' L II & PowBond & Mtge Guar
100 245 250
53 1944.
Preferred
100 10124 103
Is 1938
J-D 100-- Borden's Cond Milk
1st 4s 1951-See Stock Exe list
100 120 l',2
44
Union Typewriter cora...100 40
87
92
4%s
1st
ex
Denver
Gas
Flat
Sc
Elec
WM;
100
190
Sc
2
10
Preferred
100 10712 10812
N
100 110 114
1st preferred
104
Gen g Is 1949 op_ __ _M-N 88
Steinway 1st Os 1922- _J-J 101
2d preferred
100 106 1c8
91
British Col Copper__ _ 5 *014 612
Elizabeth Gas Lt Co..,100 • 300 -. Butte Coalition alining.. 15 *1814 19
50 *4912 52
United Bk Note Corp
Essex Sc Hudson Gas._ _100 1:38 ...- Casein Co of Am corn_ _100
Other Cities
Preferred
50 *6134 53
234 314
Gas Sc El Bergen Co_ __ _100 81)
10
Preferred
68
United Cigar Mfrs
Buffalo Street BY53 60
100 67
Casualty Co of Amer__ _100 125 140 ' e Preferred
1st causal 55 1931____F-A 10412 10612 e Gr Rap 1st 5.3 1915
F-A 08 101100 10314 104e4
Hudson Co Gas
A-0 103 106
United Copper
100 135 137
Celluloid Co
Deb (Ss 1917
100 128 130
100
414 434
___ 96
Indiana Lighting Co__.-100 :34
Preferred
100
9
Columbus (0) St Ity_._
Cent Fireworks corn._..100 ...__ 3 114
14
36
4s 1958 or,
_100100 100 103
100 215
314
U S Casualty
Preferred
F-A 64
65
Preferred
100
Indianapolis Gas
Central Foundry
Colons Ry con 53-See Ph la list
100 50 52
U S Envelope corn
50 1212 25
100
1st g 5s 1952
Crosst'n 1st 53 1933 J-D 101 1011
Preferred
100 110 113
Preferred
A-0 78
100
83
U S Finishing
Deb 6s'19 red at 105_M-N f
100 92 97
9212
e Conn Ry & Ltg corn_._i0076 7612 Jackson Gas 5s g 1937_ _A-0 f 88
80 e Laclede Gas
e Preferred
Preferred
100 11034 11114 Chesebrough Mfg Co
100 105 110
100 78
_100 700 800
e Preferred
1st Sc ref 43,5s-See Stock Erre list
1st g 53 1919
100 93 8103 Chino Copper Co
J-J 100 105
5 *1978 2018
Madison Gas as 1926_ A-0 103 108
58
Grand HAMS Sly
Con g Is 1929
00 ____ 331
City Investing Co
100 55
J-J 95 100
US Steel Corporation• Louis,/ St 53 1930-------.1-3 -..8 10614 Newark Gas 6s 1914
Preferred
100 98 100
Q-J 128 129
Newark Corneal Gas
Lynn Sc 1305 1st Is 1914-...1-D 104 106
Col tr s f Is 1951 opt '11 .. 11334 11438
100 101 105
100 9734 9812 e Clailin (11 13) corn
e Con g Is 1948
100 92 95
e 1st preferred
Col tr s I 53 '51 not opt-- 11334 11488
e New on Rya Sc Lgt_ _100 2358 24
J-D 104
6414 No Hudson L H Sc Pow100 64
e 2d preferred
s Preferred
100 113
U S Tit Gu Sc Indem_ _ _ _100
9212
53 1938
Gen Mg 4 jis 1935-See th Ex list
. Col Sr Hock Coal Sc I pf.100 -- ---- e_ Utah Copper Co-See Stk Exe list
A-0 100
sPub Sere Corp of N J.. _100 119 11912 Facile Gas Sc E, com_100 65 -67
.
1st g 51 1917
J-J /-- -- --__ 'Westchester Sc Bronx 'Title
Preferred
Col tr 6s Oct 1956Tr ctf3 2% to 0% perpel 105 106
J-J / _
100 89
100 160 166
01
& Mtge Quer
North Jersey St fly..100 60____ Pat Sc Pas Gas Sc Elea 100 93 95
Westingh'se Air Brake_ 50 *143 144
60
Congo' Car Ileating.......100 x58
e Con g 5s 1949
51-N 7712 -Consol Rubber Tire
100
1st 43 1918
114 2
West El Sc Mfg Is-See-81k Exe list
51-8 102 103
Preferred
100
__ 20
WorthIngt'n Pump pref_100 106 110
1 Cons Tract of N J.--100 75 __ _ St Joseph Gas Is 1937-J-J 90 94
Debenture 4s 1951_ A-0 / -15
J-1) 1041., 10434
40
let 5s 1933
-
Outside Securities
- y1-4
9312
Wee ghat.). b Basis. 0 Sells on Stook Exchano, but not very active.
Flat price.
n Nominal.
3 Sale price
t New stock. x
Ex-rIghl
BOSTON STOCK EXCHANGE-Stock Record, Daily, Weekly and Yearly
SHARE PRICES-NOT PER CENTUM PRICES
Saturday
Feb. 11
Monday
Feb. 13
Tuesday
Feb. 14
Wednesday
Feb. 15
Thursday
Feb. 16
Friday
Feb. 17
Sale.s
of the
Week
Shares
STOCKS
BOSTON STOOK
EXCHANGE
Range Since January 1.
On basis of 100-share lots.
Lowest.
Highest,
Range for Previous
Year (1910).
Lowest.
Highest.
Railroads
105 10612 *10558 10613
10612 107
810634 10714
810612 107
186 Atch Top & Santa Fe.10'. 10213 Jan 5 10773 Feb 9
9112 rly 12313 Jan
8102 103
*10214 10314 *10214 10314 10233 10234 10234 10284
103
Do pret _
0713
, Aug 10.114 Jan
10( 10113 Jan 3 10313 Feb 1
225
226
2261?
22434 22434
22512
225
225
225
225
218 Boston & Albany__ __10( 22312 Jan 4 226 Feb 15 218 J'ne 234 Jan
129 12912 12914 119. 129
128 12812
12834 129
875 Boston Elevated
129
10‘ 112712 Feb 3 12978 Feb 1 z122 Aug 13634 Jan
209 209 8209 210
212 212
210
210
209 209
76 Boston dc Lowell
10. 207 Feb 1 216 Jan 4 200 J'iy 227 Feb
12112 12112
121
12112 12214 12112 12233 12112 122
886 Boston & Statue
12138
101 11534 Jan 11 12238 Feb 15 h118 Dec 152 Feb
298 298 *297
_ *295
298 298
8295
7 Boston & Providence_10c 295 Jan 10 298 Feb 8 285 Oct 3. 0 Nov
16
Last Sate 15
*15
16
*15
16
*15
Dec'10
Boston Suburban El Cos_
1618 Nov
14 J'ne
__
*7112 ____ *7112
Last Sale 72
__
87112 -Jan'll
Do
pret
72 Jan 6 72 Jan 26
70 J'ly
76 Apr
6
734
512 9
-540 Boston & Wore Elec Cos_
*812
9
8 MO
6 Feb 15
1012 Sep
9 Feb 16
4012 40
40
40
40
4034 8.._ _ 40
4012
41;448
Do
pret
3813 Jan 3 4034 Feb 15
35 Aug
4:: Jan
158 153
8158 160 8158 160
8158 160
158
158
55 Chi° June Ity & USY_100 157 Jan 6 158 Jan 16 130 Sep 160 Dec
8112 12112 112 11212 112 11212 112
*112 113
112
78
Do
pret
100 110 Jan 5 11212 Feb 8 109 Oct 113 Jan
*
265 *245 275 8____ 270
8___ 265
265
265
8 Connecticut River
10( 265 Jan 31 265 Jan 31 260 Oct 270 Mel)
127 127
123 128
127 128
128 128
128
180 Fitchburg, prat
12812
10 1261. Feb 4 130 Jan 4 12414 Sep 13312 Jan
12512 12512 812512 12712 *__ 123
125 125
12312 12312
135 Ga ity & Electric_ _100 11712 Jan 23 12512 Feb 14 104 Jan 123 Oct
*87
88
88
*87
8712 *87
87
87
8712
30
85 Apr
90 Oct
10C 87 Feb 11 8812 Jan 6
Last Sale 215
*213 215 *213 215
8213 215
Jan'll
llamaCPernettral
100 215 Jan 18 215 Jan 18 202 FeI) '218 Dec
1734 1734 1773 177.3 1712 1712 --*17
18
170 Mass Electric Cos___ _100 1712 Feb 10 19 Feb 1
1414 J'iy
21.3 Nov
8713 8712 -8712 8773
88
8712 88
88
88
88
188
Do
pret
75 J'iy
SL34 Nov
100 8334 Jan 9 88 Fen 2
150 15014 15013 15038 15013 15033 150
14973 150
15014 2,158 N Y N 11 & Hartford_100 14812 Jan 23 151 Jan 3 149 Apr 162,
6 Met),
140 140 5140 141 8140 141
140 140
141
141
14 Northern N 81
100 139 Jan 13 141 Feb 17 139 Deo 191 Deo
1.210
Last Sale 210
*210 _Jan'll
Norwich & Wor pret_100 210 Jan 26 210 Jan 26 210 May 212 Itch
4.186 189
- *182 187 8____ 187
45 Old Colony
100 18312 Jan 30 189 Jan 3 18114 Sep 200 Jan
3:i12 3312 *33 40 *33 40 *33 34
40
*33
6 Rutland pret
100 32 Jan 26 34 Jan 31
25 May
4413 Nov
810412 11112 111 111
111 111 *10912 111
*10912 -72 Seattle Electric
100 x106 Jan 6 111 Feb 15 103 Aug 11ii Jan
8100 10012
10012 10012 10012 10012 *10012--*10912 ____
Do
80
pret
10012
100
Feb
uv
10234
7
106
Jan
Men
9
A
4
983
17938 17933
180 18014 17914 17934 17633 179
177
17758 1,052 Union Pacific
100 171 Jan 3 18073 Feb 6 15314 J'ly 2041. J an
*9312 94
Last Sale 9413 Feb'll
*9312 94
*9312 94
Do
pref
100 9258 Jan 12 9418 Feb 10
8914 J'iy 1033 Jan
158 158
*157 ____ 8158
153 158 *157
Vermont & Mass.
100 158 Feb 11 158 Feb 14 151 Oct 168 Jan
92
92
9238 92
92
92
92
466 West End St
9212 9214 -921-4
50 8012 Feb 1 9273 Jan 11
b3 Sep
9612 Melt
*103 104
10212 10212 10213 10212 10318 10314 103
Do M ipsrceet
122
10314
50 10213 Feb 14 105 Jan 10
99 J'iy 109 Feb
Miscellaneous
5114 5112
5133 5112 51
5138 5034 51
51
51
1,050 Amer Agnelli (Them,. 100 4612 Jan 3 5214 Jan 31
35 J'iy
4912 Oct
103 103
103 103
10212 103
103 103
10212 103
Do pret
223
100 99 Jan 6 10312 Feb 7
9812 Dec 106 Sep
*5
6
513 6
*5
512 *5
5
137 Amer Pneu Service
512
5
412 Jan 4
613 Jan 20
50
4 Dec
878 Feb
1614 1633
17
*1614 17
*16
17
Do pret
100
1614 1614 *16
50 14 Jan 3 1914 Jan 31
1334 Dee
24 Feb
11912 11912
11012 11912 11938 11078 119 11934 119
119
343 Amer Sugar Itetin
100 11334 Jan 5 12012 Feb 2 111 Oct 12133 Mch
118 11838
118
11812 118
118
11812 11834 1 1812 11834
383
Do
pref
.100 11134 Jan 5 119 Feb 2 11134 Oct 124 Mch
14514 14512
14312 1453. 145 14553 14478 14553 14473 14514 4,198 Amer Telep & Teleg_ _100 140 Jan 3 14658 Feb 3 12714 J'iy 14378 Nov
_
33
100 American Woolen___100 31 Jan 4 3313 Feb 2
33
26 J'iy
3912 !dell
95 151-2
7 -1/572 -6558 9514 9514
-9514 -6.5-172 -His 0
- 2
717
9134 Jan 3 9534 Feb 8
9012 Dec 10414 Mch
10
10
10
1038 1014 1012 10
694 AtD
10
1G
8812 1012
o ulfp&
refW IS S L_1
814 Jan 17 1012 Jan 25
10
00
Mch
1113 Jan.
2512 2512
*25
2578 *25
268
*2412 2534 25
26
Bo
D
st
o
on
La
25
prentd
100 22 Jan 4 28 Jan 31
16 May
28 Jan
812
Last Sale 612
8- --812 *---Jan'll
812
512
812 Jan
Jan
10
13
612
Jan
26
412
J
.
IY
*14814 150
14914 150 814814 149
149 149 *148
140 Cumb Telep & Teleg_100 14514 Jan 10 150 Jan 4 13812 J'ly 15212 Mch
15112
938 953
912 953
914 938
9
912
9
1,150 East Boston Land
9
718 Apr
Jan 18
Feb
lug
9
5
3
Jars
14
7
,
4
*28812 290
290 291
290 290
290 291
290
291
215 Edison E.ee
28734 Jan 24 29212 Feb 3 /1239 Jan 29212 Nov
15514 15514
155 15514 154 154
15312 15334 15313 15312
360 General Electric
100 15013 Jan 12 15553 Feb 10 135 J'iy 16)512 Jan
93
93
03
93
93
93
9212 93
9212 9234
856 MassachusettaGasCos 100 8734 Jan 3 94 Jan 20
7614 Feb
0138 Nov
9614 0614
9513 96
9553 96
9578 96
96
9633
89 May
100 95 Jan 3 97 Jan 19
1.17 Melt
*220 222
*22014 222 *220 221
343
22013 22013 8____ 222
1 MeD
rg
oentP
hraele
r r Lino
100 211 Jan 4 22013 Feb 16 21212 Dec '226 Nov
*414 478
412 412
412 412
434 434 *414
118 Mexican Telephone
4
234
Jan
10
Jan
43
4
25
473
Jan
31
634 May
*114 115
115 115
11412 115
115 115
11412 115
72 N E Cotton Yarn
100 110 Jan 3 11512 Feb 4 107 Sep 124 Jan
11273 11278
11312 11312 114
11333 11312 11314 114
9912 Aug 115 Jan
114
73
stlerpet
moTeCoap
4ND
2
10
100 106 Jan 3 114 Feb 15
*144
144 145 *143 145
143 143
Telephone
100 137 Jan 14 145 Feb 14 12912 Aug 13834 Deo
*9912 ____ *9912
_
__
Pacific
Last Sale 9912 Feb'll
Power...
96 Jan 9 9912 Feb 7
9314 Nov 100 Jan
*991216014 161-.8o Pullman Co
160 16034 160 1E014 160 16012 160
16012 --5
100 159 Jan 3 163 Jan 30 153 J'ne 200 Feb
813
13
328 Reece Button-Hole
1358
13
13
3114 *13
1314 13
13
10 x12 Jan 5 1314 Feb 15
1114 Jan
14 Oct
10113 10112
10114 1012 101 10134 101 10112 101
989 Swift & Co
10112
100 100 Jan 26 10134 Feb
100 Jan 10934 Jan
3114 3114
3133 31:::.• 3133 3112 3112 3112 3112 3112
150 Torrington
25 30 Feb 1 36 Jan 3
28 Mcti
37 Dec
29
2312 2312 *2312 2912 2812 29
pref •
*2812 2912
112
Do
25 28 Jan 4 29 Jan 17
27 Jan
31 May
189 189
18734 188
187 18973 18712 188
470 United Fruit
18778 188
100 186 Jan 16 19212 Jan 19 16512 Jan 200 Sep
57
57
57
57
57
57
57
57
57
5714 2,473 Un Shoe Mach Corp.... 25 5414 Jan 13 5812 Feb 3
4634 J.17
7134 Apr
29
29
2913 2853 29
29
29
2914 29
pret
29
Do
719
25 2814 Jan 3 2914 Jan 31
2514 J'iy
31 Jan
81
8135
8034 7834 80 14,007 U S Steel Corp
81
815s 8073 8118 79
6118 J'iy
100 7133 Jan 3 821.3 Feb 6
9034Jan
11914 11912
119 119
119 11918 119 119
2
110
6
100 11634 Jan 3 12012 Feb 2 111 J'iy 1258s Jan
2012
*1912
20
Wes
D
po
t TeP
20
*1953 2012 "2512 2013
p
lere
pt & Teleg- _100 161 Jan 17 2314 Feb 6
1912 1912
14 Feb
1934 Sep
*93
96
93
*9312 95
94
96
138
9512 9512 *93
100 89 Jan 23 97 Feb 3
81 Aug
94 Jan
Mining
614 614
612
612 *6
*6
6
6
115 Adventure Con
8512
6,4
25
512 Jan 27
4 J'iy
10 Feb
7 Jan 5
Mining
*712 8
8
813 818 87
734 734
714
7,4
734 Dec
6 Jan 24
1434 Sep
812 Feb 3
3312 3312 8_ ___
70
17
10
8
7A
I glgmau zh
Amalgamse
36
36
36
8_ _ _ _ 36
te
25 3312 Feb 16 39 Jan 4
J'ly
31
68
Feb
633
3 6412
6512 66
6512 6618 6473 6512 6333 65
i Copper
100 61 Jan 3 67 Feb 6
---25
5514
0034 Jan
24
2412 *2413 25
2412 2434 *2412 25
2412 2412
250 Am Zinc Lead & Sm.. 25 23 Jan 27 2534 Jan 7
1912 J'iy
4012 Jan .
1,360
1412
1412
1
Arizona
1534 1534
1512 1534 15
143
4
15 2
1514
Commercial- 25 13 Jan 12 1578 Feb 10
1214 May
5034 Jan
1,380
10 flo
4
4
373 378
4
tin
4
aanntiz
414 43s
4
4
25
378 Feb 16
5 J'ne
1214 Jan
5,4 Feb 2
.60 .55 .55
8.50
.60 8.50
8.50
.60
.50
.60
Dev Co
10 .50 Jan 5 .55 Feb 16
.50 Mch .70 Mch
Last Sale 13
*1212 13
*1212 13
*1212 13
Bos
Feb'll
&CorbCo p &SI!Mg
5 1112 Jan 13 1334 Feb 3
10 May
2414
Jan
*453 518
*473 5'4
*434 514
170 Butte-Balaklava Cop_ 10
478
5,4
412 Jan 30
412 Nov
612 Jan 14
1814 May'
1873 1878 *18
19
19
1912 1912 19
1914
1834
915 Butte Coalition
15 1734 Jan 16 1934 Feb 6
1553 J'ne
2812
Jan
'
52
5312
52
5333 5312
5212
5312
5212
5112 5212
482 Calumet & Arizona_ 10 46 Jan 19 55 Feb 3
4434 J'ly 103 Jan
505 515
505 510
523 523
505
515 515
37 Calumet & Hada
505
25 500 Jan 12 545 Jan 4 500 J'ly 685 Jan
13
12
1214 1212 *12
*1212 1234
12 *12
1258
19 Centennial
25 1112 Jan 30 1512 Jan 4
1312 J'iy
38 Jan
8.05
.07 8.05
.07
Last Sale .06
8.03
.07
Cons Mereur Gold
Feb'll
1 .05 Jan 6 .06 Feb 7 .04 J'iy
.16 Jan
68
6712 6713
67
6713 6712 6712 68
6734 68
1:1
.2 Copper Range Con Co 100 6612 Jan 3 6934 Feb 2
58 Feb
85 Jan
313 314
*3
31 1
3
*3
0.8 Daly.West
3
314
3
314
20
312 Jan 3
3 Feb
312 Sell.
US7MCII
1253 13
1273 1318 1234 1278 1212 13
1234 1278 2,555 East Butte Cop Min
10 1132 Jan 11 1314 Feb 2
614 J'iy
14 Nov
8.15
.20 --------8.15
Lace Sale .15
Jan'll
Elm River
12 .15 Jan 30 .20 Jan 6 .05 Oct
212 Feb
;954 10 10
10
*934 1610
531 C134
10 5Fi raiant
28
15
0(
.2
25
9 Dec
7 Jan 21 e101s Feb 6
2212 Mch
69-16 69-16
Vs 6 13-16
653 634 6 9-16 634 6 9-16 638
i
kxiinConsolidated_ 5
614 Feb
6 J'ly
813 Feb 0
1212 Jan .
*34
3412 3412 3312 34
3413 3412 *3412 35
3512
50 Granby Consolidate(1 100 30 Jan 26 4012 Jan 4
20 J'ly 11114 Jan
1
65-16
614
613
613
6
7-16
612
814
612
613 6 4
1,704 Greene Cananea
20 51516 Jan 31
1178 Jan
Jan 9
638 Sep
7
20
2012 2114 2012 2012 20
2012
2012 1934 20
1,110 Hancock Consolidated 25 18 Jan 24 2214 Jan 9
1434 J'ly
30 Jan
114
134
€134 2
8114 158
134 131
134
134 Oct
445 Helvetia Copper
134
25
2 Feb 4
1 Jan 20
Os Jan
13
1234 1314
1212 1212
1333 1312 1234 13
13
10 J'iy
475 Indiana Mining
25 1114 Jan 30 1373 Feb 6
9434 Melt
832
3134 32
3112 3112
3214
32
32
3034 Deo
267 Island Creek Coal- 1 3112 Jan 30 34 Jan 9
3334 Oct
8734 88,4
8812 88
88
8813 8812 88
88
Nov
8114
88
276
Do
pref
90 Nov
1 87 Feb 3 90 Jan 9
1334 1334
*13
14
*13
131 2 1314 1314 1312 1312
285 Isle Royale Copper
25 13 Jan 30 1612 Jan
1312 May :,812 Jan
7 1-16
718
713 7 3-16
718 714
7 71-16 2,961 Kerr Lake
7
718
11 Jan
zO Sep
5
773 Jan 21
634 Jan 4
238 238
212
213 214 8218 212 *2
Keweenaw
214
135
Copper.__
214
25
3 XIV
634 Jan
2 Jan 28
312 Jan 3
3534 3713
37
3738 3634 3634 36
36
3513 36
3812 J'ly
1,217 Lake Copper Co25 3314 Jan 27 3712 Feb 3
Jan
94'2
438 438
434 5
412 412
614 Dec
412 412
434
25
19 Jan
434 1,535 La Salle Copper
414 Jan 5
6 Jan 3
7
7
713 714
7
673 7
7
Mass
Consol
455
412
:deb
25
1058 Oct
*634
7,4
7 Jan 17
Jan 3
8
8.75
.90
.90 .75 .75
.80 8.75
8.75
80 Mayflower
25 .37 Jan 21
178Jan•
1 Jan 26 .35 Oct
.24
.19
.20 .20
.24 .15
8.20
.20
:16" 1,595 Mexico Cons M & S.- 10 .03 Jan 19 .25 Jan 16 .01 Nov
5 Jan '
2033 2038
2014 2014 2014 2014 20
20
20
625 Miami Copper
5 1853 Jan 28 2053 Feb 6
20
17 J'IY
29 Jan :
*234 314
1
Mohawkl
3
1
3
*234 3 4
55
314 Dec
1 N
253 234 *212
13
25
314
812 Jan '
212Jan 26
312 Jan 4
44
44
*4312 45
42
*4314 44
43
*4312 45
25 42 Feb 14
43 J'iy
75 Jan.
Jan 7
81913 1938
evhadga
anConsolidated- 6 1833 Jan 5 4512
1933 1938 1933 1033 1873 19
19
19
1753 J'iy
2712 Jan
6
Feb
1934
*3
4
334
312 312 *3
83
4
60
0 New Arcadian Copper 25
313
'
0
13
312 J'ly
318 1
234 Jan 17
1032 Jan
334 Feb 8
*11
1118
11
1113 1073 11
1078 11
1078 1138 2,396 Nlplssing Mines
934 Jan
1012 Jan 3 1132 Feb 17
12 May
29
2914
2914 2912 29
2,475
2 North Butte
15 26.2 Jan 30 3012 Feb 9
2912 2813 2914 2813 29
18 J'ne
50 Jan
7
7
*612
7
612 612
*612 7
25
25 North Lake
614 Dec
613 Jan 20
2573 Sidi
734 Jan 9
*612 7
7
pca
gymlorM
7
iild,11)w
2255
nylionninco
71
714
g
115 001
25
634
634 634 -#3.54
5 Jan 17
1234 Jan
5 Sep
714 Feb 15
8.50
1
8.50
1 8.50
Feb'll
.00
Last Sale .60
.50 Jan 5
Jan 26 .25 Aug
134 Feb
1
*4014 4114
40
40
40
40 *____ 4012 3914 3912
03
38
2912
Feb
J'ne
13
Jan
65
42
10
Jan
8109 110
4
50
8
110 110
10913 110
25 106 Feb 17 124 Jan 3 114 J'iy 166 Jan
106
107
107 107
*1212 1312
°
Pa
sc
re°
rot
iaSilver & Cop_ 10 11 Jan
*1112 1212
1212 1212 *12
*12
13
13
11
Feb
1234
26
Dec
2
2134
Jan
*67
6812
76 Quincy
67
67
67
25 65 Jan 25 71 Jan 3
*67
69
67
6(8 J'iy
92 Melt
*1712 18
319 Ray Consol Copper
1712 1712 1712 1753 1714 1714
10 16 Jan 27 185 Jan 4
1814 J'iy
2434
Melt
114 114
Santa
Fe
Gold
410
*11*114
&
113 11.1
Cop_
133
10
114 114 *1,4 133
113 Jan 27
114 Nov
112 Jan 5
234 Jan
81112 1178
514 Shannon
1112
1114 113.! 1113 1118 11
1114
10 11 Jan 12 1214 Feb 2
834 J'iy
18 Jan
1
8.95
.95
1
.95 8.99
250 South Utah 1.1 & S.- 5 .80 Jan 16
.95 .99 *90
1
1 Dec
1 Feb 1
334 Jan
37
37
37
*3614 3612 36
37
175 Superior
3613 3612 3612
25 36 Jan 26 4212 Jan 3
36 J'iy
0814 Jan
•
414 414
411 433
414
880 Superior & Boston Min 10
414 412
414
414 432
4 Jan 19
Al Deo
6 Jan 7
18 Jan
1434 15
1434 1473
1473 15
15
0 1312 Jan 3 1533 Feb 3
1434 1473 1458 1434 3,387 Supenor&Pitta Copp- 2
1658Jan
9 J'iy
844
44
44
45
43
44
43
44
*43
44
117 Tamarack
40 Jan 5 52 Jan 3
4512 J'ne
78 Jan
*414 412
*414 43i
414 414
4
4
433 438
25
80 Trinity
4 Jan 19
412 Dec
5
3
1133 Jan
3612 3612 36
836,4 3714
3613 3512 3534 3512 3512 1,134 U S Smelt Ref & Min- 50 3533 Jan 11 3712 Jan
30 Dec
Feb 4
55 Jan
47
4634 4634
47
47
47
47
884
Do
prat
4714 4713 4713
461z Jan 3 4714 Feb 6
4534 J'ly
5318 Jan ;
*212 3
234 234
*212 3
3
400 Utah-Apex Mining- 5
234 234 8253
212 Jan 3
2 Dec
514 Jan •
3 Jan 5
*12
1212 12
812
13
1234
1214 1113 12
12
828 Utah Consolidated- 10
t
934 Jan 20 1312 Jan 3
1212 Deo
46 Jan
*4531 4614 46
4612 4612
46
4514 4514 *4514 4534
40 Utah Copper Co
45 Jan 30 4653 Feb 6 h3934 J'ne
6012 Jan
*2
212 *2
*213 212
212
2
213
214
214
965 Victoria
2 Jan 16
212 Feb 7
2 Dec
534 Jan
9
9
*04 911
9
*834 9,4
9
9
23
75 Winona
8 Jan 21
912 Feb 6
5 J'ly
15 Jan
8120 122
121 121
1.121 122 *121 122
120
121
21 Wolverine
25 114 Jan 11 122 Feb 10 102 J'iy 150 Jan
8112 134
112 112 *112
*112 173 *112 158
153
300 Wyandot
23
114 Jan 25
2 Feb 6
114 J'ly
334 Jan
•Did and asked prices. d New stock. e Ass't paid. b Ex-stock div. h Ex-rights. a Ex-div.
and rights,
Boston Bond Record
FEB. 18 1011.1
iitffisIP
BOSTON STOCK EXCH'Gle. 14 - 1
WEEK EBBW( FEB 17
Price
Nriday
Feb 17
Range
Week's
Since
Range or IS
Last Sate 41- January 1
451
istia
j
BOSTON STOCK EXCH.GE12.:17.
WEEK ENpizio FEB 17
I
I
Rang.
Range or
Since
Last Sale itzt4 January, 2
Price
FWdaij
l'eb j7
1 g.!
Btu
,
Ask Low
11 Lilo., No Low Iiich
!Elia
AS 1,0W
iiigh.,,No Low moll
Am Ae ricul Chem 1st 58..1928 A-0 10214 851..'1024 1024 7110218 10. 4 Illinois Steel deben 58....1913 A-0, 10014 1004 10012 10041 1 100 102%
it(08 60, 130is 5078 Ia Fails &Sioux 01st 70...1917,A.OI
Am Teieo tYa TO) C011 GI: 99.11)29
1104 sale 1 904
117 Apr'08'
Kan C Olin & Spr 1st 58...1020 A-01
Convertible 4s.......
1536 M-S 107.4 Sal., 10134 108 j 14 105%109
9318 Mat'10:
1'
Kan0Ft 8& Unit est 58..1911 J -I): 100
Am Writ Paaer 1st 8 t5s g 1919 J
90
1 90 Feb'll .
90
99% Feb'101
1.
02
38
4 taM.-Ns 1 110 1164 116
Am Zinc L & S deb 6s....1913 m.N
102
10214 12 100 1024 Kan 0 Ft Scott & lif 66-.19
116 12 19 116 116%
Ariz Corn Cop 1st cony Os 1920 J-D' 88 Sale 85
1
1 ,
1,8
44 8
93
86 1 6 8
1)2 Jan '11 . .,i 12
1134
.
Bgt'n485s
1934 M•S 88
jn
Altett income
KA
ansste
Atoll Top & S Fe gen g 48..1995 A-0
1/834 Feb'll
15011 89
85
-7 i 88
89
Adjustment g 48
J.1y 1995 Nov
914 9178 Kau C & M Hy& Br lst 581029 A-0 1024 10278 103
91 4 92
9176 Feb'll
103
11102 103
Stamped
Maine Cent cons 1st 78 1
Ply 191/5 31-N
91'l92
3110215 102%
9015 Deo'IU
1102% 10234
912
912 AA-.°
Cons 1st 4s
1955, J.D.
50-year cony Is
0
10114 Sep '05
1024.Ply'10
!I
Mara Hough & Ont ist 68.11)25 A-0
19171 J -D'
10-year cony 58
6 1084 110
110
115 J'ne'014 ..no
.!
Mass Gas 4125
1929, .1 -J IOU Sale 9934 100
At) Gult &W I Ss Lines 5s.'51) J -J
73
7234
3
7234
15: 994 100'i
...........hitch
Boston Elect L consoi 50.1924 M-S
Teleplst
58
19174J
97
Feb'04
Aug'10
110
I
Boston & Lowell 45
1916 J -J
Minna Gels Elec con g 5s 192131J -J
10212 A ug'04
.1
....1004 MarOl
Boston & Maine 44s
1944' J -J
New Eng Cot Yarn 58.-1929,F-A 10034 1014 10038 10034
2, IOU 101
104 Oct '08. . , .
Boston Terminal 1st 348.11147, F -A
Eng
Teleph
New
5s
102
1915'A-0
Jan '11 ....1 102 102
11212Jan '03,
Bur & Alo Riv eons 09 ....I918 J -J
68,
100 12 Sep 'th..
1916A-0
4 ,. 1
103 103 12
103 Jan'11.
Butte & Boston 1st 63-.1917'A•0
I
.New England eons g 5s 1945:J -J
100 J'ne'011.. 1
Butte Elec.% Pow 1st g 58.19511 3-Li
1
I
Boston Term 1st 4s
1939, A.0
Cedar Rap & Mo It 1st 78.1910 M-N
76 Oct '101'
Now River(The)cony 53.1'334'J - J
113'-> Mity'10I
I
994
Cent Verwl,1st g48..Mayl:120,44-F 80
994 5 994 994
90
8914
11 8'74 804 N Y N li & 11 con deb 3 481950,, J.J
8911
B & ,4 Iowa Div lot 58.11/191 A-0
Couv deb Os (ctts)
13315 13378
1: 13334 13484
1913IJ•J
11103 Oct'07 ...., ..
Iowa Div 1st 48
19191A•0
'
Old Colouy gold 4s
101 Apr'09
19241 F-A
!
0811 J'ne'l0
Debenture 58
1913 M-N
10014 Jan'11. .110034 10034 Oreg By it Nay con g 4s. 1946 J.D
Denver Exton 48
19221F-A
Oreg Sli Line 1st g Os
1922 F.A.
s8
Ja
en
p:19
1 ......! 11434 11434
19
18
4374
100 Feb'll ...J 99 4 100
Nebraska Eitel) 48
1927:1114.1
Pere Marquette deb g 68..1912 J-J
99 Maelo
99 Mar'101
,
:
B & S W 8 1 48
1.1121 1 M-S
Repub Valley lst s 1 6s. 1919'J -J
99 Oct 'o9.....1
103 Jan'11 -.1 103 103
Illinois Div 3128
1049 J -J
11
10712 ..N 0,415
87%
87341 1; 87''4 8814 Rutland 1st con gen 4 48.11141 J -J
Ohio J o Ry & Stk Yos 58 191.5 J -J 1014 Sale 10115 10111 10, 101 1014
Rutland-Canadian lst 4819411 J -J
11
102 Mat'02
Coll trust reloading g 481940 A-0 90
.I. 103,4
.=
1
g..
91
704 Dec'10,
9014 Feb'll ....! 904 9034 Savannah Elea 1st cons 58.11
1I
Seattle Eleo 1st g 5s
Oh Mil 3:5 St P Dub D 68 1020 J -J
101
114 Jan '11 -.1 114 114
101 1 1::10,1 104
Shannon-Ariz 1st g Os
11119 M-N
Oh M & St P Wie V div 68192013
97 Nov'10 ....1l
I
J.J
126 Feb'05'
Elec
haute
g
Terre
68....1
1
92
Chit a, No blion 1st gu 58.1931'M-N
9
1
9
8
m
J.
4
8
97 Apr'07 ...11
08 12 Jan '11 ....I '384 09
974 99
Torrington 1st g bs
Ohio & W Mich gen 513
100% Mar'10
10211 J•D 100 100.1 10034 Feb'111....' 101158101
11
Union Pao RR & Igr g 48.19,17 J.J
Concord & Mont cons 48 1020' J -D
100% Jan '11 . .1100%100%
91 Dec'07....'
,
cony
4s
20-year
1927
J-J
104%
sale 104118 101% -1 101%10438
Conn & Pass It 1st g 48 1943'A•0
11214 Jau'03 .
Calton Fruit gen s 14118.1923 J.J
9615 Sale 1.16 14
Cudahy PacK(The)lst g 5811114 M-N
1004 Aug'00,
Uti .2 11', 96
97'2
U S Coal & Oil 1st 8 f 68..1938 M-N
165 Nor 10 •
Current River 1st 58
99 Anr'101 .. ...
11.
1926 A-0
U 6 Steel Corp 10-60 yr 58.1963 M-N 105 Sale 105
I
83 Deo'10'
10511 4 1044 105 L4
Dot Or hap do W 1st 4s 1946,A-0'
8Street Hy 4s....1915 F-A
.../6 4 Jan '11 ....I 116
1184 Ply'10
Ms
913 12 1)8
Dominion Coal let s I 513-11140,M-N
1914 M-S
WGe8otIdE4,1112(1
.1.
10014 Jan '11 ....' 1004 1004
103 18 Apt'06
1015M-8 ,
Fiten burg 48
Gola de uenturo 4s
96 Apr'031
1916 M-N
984 apr'10
I
19271M-S 1
4s
0018 45
1917 F-A
034Jan'11.-., 9818 1)8 4
Fromt Elk & Mo V lst tit:1_11133 A-0,
12715 Jan'll' .1'1274 12715
984 Sale 98 14
140 Apr'05 ...."......Western Teleph & Tel 58.1932 J.J
1933 A-0
Unstampeo 1st Os
884 - 11, 1)634 99
.143
1 8' 45:I 954 96% Wisconsin Cent 1st gen 481949 J -J
Gt Nor() 11 & coil tr 48 19214-J1 I)618 Sale 1 96
934 Jan'11 ....1 034 934
1 9538 Feb'111....11 9538 9634
11.1211Q-J
9578
Registered 48
I•
I
NOTE-Buyer pays accrued interest In addition to the purchase price for all Boston Bonds. *No price Friday; latest bid and asked. 11 Flat price.
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
share Prices-Not Per Commit Prices
Saturday
Feb 11
Illonday
Feb 13
824 824 83
1)611 954
95
125 1254
234 234 823
4824 48'4 484
174 *17
*944
45%
*1216
63'->
33
74 4
8
*30%
*924
89116
65.6
524
1611
21)
80
*818
4714
8736
2'uesdayy, I Wednesday,
Feb 24 I
Feb 15
854 87
964 a712
125 125 *
*23
24
484 9815 48%
1715
174
, 17
834
964
444
4511
12%
54%
23
7415
9
31
9234
89116
64
624
10,.
'2015
80'.
814
4744
87%
ILADELPHIA
inactive Stocks
American Milling
10
Amer Pipe Mfg
100
Bell Telephone (Pa) 100
50
Cambria Iron
Central Coal & Coke.100
Uonsol Tree of N J 100
100
lft Wayne &W V
Germantown Pass
60
Highlander Mill& M g..5
Wilmington/3 St
100
100
Indiana Union Tr
Insurance Co of N A..10
Inter sin Pow & Chem.50
Keystone Telephone ..50
Preferred
50
KeystoneWatchCase.100
Leh Vail 'I'ran v t 0...50
Preferred v t o
50
Lit Brothers
11)
Little Schitylkill
50
schuyl 11 50
Nat Gas Elec Lt& Po 0/0
Proterred
100
N Maven Iron & Stee1.5
Northern Central
50
North Ponnsylvania 50
Pennsylvania Salt
50
Pennsylvania steel..100
Proterred
100
Phila Co(Pitts) prof...50
Phil German & Norri8 50
50
Phila Traction
10
Railways General
10
Tidewater Steel
Preferred
1
10
Union Tr of Intl
100
United Cos ot N J
Unit Trao Pitts pret..5
Warwick Iron& Stee1.1
Welsbaoh Co
100
West J eattey & Sea Sh.60
Westmoreland CoaL...50
Wilkes Gas A.: Eleo.„100
York Railway
50
Preferred
50
45
4515
12.4
54 14
334
'7, i>
9
304 30->
1124 92 12
884 894
(3334 61
5278 5278
104 1038
19150 20 I
79% 80516
8.8 13 18
47.4!
47
87', 874'
4434
454
*124
5414
*33
744
Bid
114
40
45
844
75
204 '20
8
33
13'
34
734 8
214 22
01%
125
1114
42:
42',,
14612
86
85
9
10
240% ......
103
. 114
40
88
21
64
21%
*Bid and asked; no sales on this day.
.6V•tdayy,
Feb 1?
' Sales
of the
I Week
:6hares
*854 86
86
8'7's 88
86
97% 97121
974 58
9712 93
126
126 125 *125 110
23
23
23
234 23
2315
494 494
484 49
48% 4815
17',. 17% *17% 1734 *174 1734
46
4515
*1215
*534
33
*74
*811
304
924
88%
63%
..‘524
93
19%
708
918
4715
37
Ask 1
Thursday
Feb 10
45
453w
12%
544
334
74'.
9%
3034
9234
8815
64
53
104
20
80
b4io
47.4
87
45
45
45.4 4515
1215 1215
534 51
33
33
.
7311 737
.842 1115
2938 304
9214 112',.
8812
88
63%631316
524 (>2' ,
104 16 14
194 1041
78% 79%
841
Zi k4
404 4/15
116 15 87 I
PHILADELPHIA
ACTIVE STOCKS
1
1or Ponds and inactive
Stocks 866 below)
Baltimore
1,702 Con. Gas ELL.& Pow
Do prof
2,310
104 Northern Central
1,422 Seaboard(new)
Do 241 pre
2,972
1,700 United Ity & Electric
Range Since
Jan I 1911
Lowest
if wheel
I Range rof Previous
Year(1910)
I
100 64 Jan 9 88 Feb10
100 89 Jan 9 53
eb15
50 12/ Jan 11 110% Jan 26
100 21 Jan 4 244 Jan 10
100 4314 Jau 4 464 Eets171
OU 164Jan 3, 1818Jan 311
Lowest
Highest
46 Mar 6111 Dee
ta1 Mar 1/0 J'iy
115 Jan 132 b'eb
1836 -Ply,
2714 Jan
40 Oct 47 Jan
12% May 164 Dee
Philadelphia
American Cement
17
50 16% Jan 28 1712Jan 41 17 Dec 28 Jan
50 42 Jan 5 45%Jan 2v 41% .Ply 50 Jan
137 American Railways
45
4734 8,504 Cambria Steel
50 42 %Jail 3 1734 veu 17 404J'ly 534 Jan
1215
117 Electric Cool America 10 114 Jan 4 124 Jan 14 114 J'ly 124 Jan
54
627 Elea Storage Battery I 00 48'-2 Jan 3 56 Feb 2 42 J'ne 6415 Mar
304 teen Asphalt tr ctts
324
3214 Feb17 3/34 Jan 10 1915 J'iy 34% Dec
Do pref tr ctfa
000
73%
100 72', Fe017 83% Jan 30 64 J'iy 81 14 Jan
91 Keystone Telephone
9,4
50 8.2Jan 12
7 J'ly 13 Jan
4Jan 10
1,118 Lake Superior Llorp
30
100 2.3 Jan 23 32 Feb 6 1312 XII° 2978 Dec
93'.
216 Lenigh U & Nav tr UN 150 924 Feb14 ad Jan Li 811 J'n 123 Jan
Valley
87% 1,237 Lehigh
50 87-> Jan 3 904 b'eu 3 6212.Ply 12114 Mar
50 63618 Feb17 05 Fed) 2611116
1/37 Pennsylvania RR
0315
,
J 'iy 69316 Mar
883 Ploladelp'aUo(Pitts0) 50 x60 Jan 3 32's Jan21 42 J'ne 5314 Jan
52%
16', 13,666 Phi-ladelphia ElectricH 25 16 Jan 19 1678 Feb l 1378 vet, 1615 Mar
50 18 12Jan 3 24.4 Jan 20, 15 Apr 2312 Jan
19% 3,945 Pinta Rapid Transit
9,705 Reading
79
5u 75 14 Jan 3 80'4 Fel)10, 65 12 J'1y 80 Feb
84
1 Pie J au 4 8% Jan 17; 612Jan Om May
773 Tonopah Alining
47
08 Union Traction
(11) 43 Jan 3 484 Jan:t0 38 Oct 5234 Jan
87
2,706 United Gas Inapt
50 354 Jan 3 81138Jan
J'ly 9518Jan
- 1 Bid TAsk
PHILADELPHIA
BAI'I'IhiOltiI
Bid Ask
Bid I Ask
.16
45
45 54
1218
534
324
72%
'1315
364
9234
874
03816
62
164
19',
7814
84
4015
8038
Bonds
Prices are all "anti
interest."
Alt &LVEltso 4 120'311.F-A
Am Gas & Elec 58'07.F-A
Am Rye cony 58 1911.3
AU City 1st 5s g'19.31.N
Berg&Ellrw 1st 6:3'21 J-J
Bethie Steel Os 1098.44•11.
Choc& Moist58 1949 J 4
ChOk &I+ gen 58'11) J4
Con Trao ot N J 1st 53.'33
E& A 1st AI 5s 1920 3I-N
Elec Peo Tr fritk trolls
Eq 11 Gas.1. 1st g 5s 1928
Indianapolis By 43.1'333
Interstate 48 1943
Keystone Tel 58 1936.J4
Leingli Nay 448 '14.Q4
Ittts 4s g
1914.14-81
Gen 31 448 g 1024.14-1?
Leh V CI Dit 58 g '33..J4
Leh V ext 451st 1948.J.1)
Cousol 68 1923
J.D
Consol 411s 1923...J-D
Annuity Us
J-1)
Gen cons 4s 2003.51-N
Leh V 'I'ran con 43'35J-1)
IstseriesB 5811)35.M-5
New Con teas 58 1948 J.D
Newark Pass con 5s 1930
NY Ph& Nolst4s'39J4
Income 45 1939...M-N
No0hioTrao con:W1t/44
Penn Cons 58 1919 .Var
Penn & Md Steel con 68.
Pa & NI Can 5s '39.A-0
A.0
Con 48 1939
Penn Steel 1.158'17 M-N
People's Tr trcerts 48'43
P Co 1st& col tr 53'40 51-8
()on& cot tr a 1951M-N
Phil Eleo gold trust Otis.
Trust certifs 48
P &I:gen Al g'20.A.0
Gen M tiag 1920..A&O
87',.
1144 115 4
102,14,1034
104 1
107'87
8711
10034
84
584 59
35
147% 148%
97
9734
93
1)34
102'.
964 97
103% 104
713
73%
1074
Ph So Read 2(1 58 -33.A-0
Con M 73 1011
J-D
Ni Imp M 48 g'47 A-0
Terminal 5s g 1941 44-F
P W & B col tr 48'21 34
Portland By 1st 58 1930.
noel' By& Leon 5s'54J4
Spanish-Ain 1r (is '27 34
Staled Gas&S 011'25 31-N
Lf Trac Intl gen 58'19.3-.1
Un itys Tr outs 48'40.1&J
United It's Inv lat coil tr
s f Os 1026
M-N
U Trao Pit gen 58'97 J4
Welabach a t 5a 1030.3-D
Wlks-B 091.E con5s'5534
DAIMIMOILE
Inactive Stocks
Ala Cons Coal& iron 100
Pre(
100
Atlanta & Charlotte. 100
Atlan Coast!> (Conn)100
Canton Co
100
Cons Cot Duck Corp .50
Preferred
50
Georgia Sou & Fla. .100
100
1st prof
100
28 prof
100
G-11-8 Brewing
Bonds
Prices are all"and
interest."
Anacostia & Pot 5s
Atl Coast L(Ct)ctis 5s J-D
Otis of indebt 4s.....T4
J4
5-20 yr 48 1925
Balt OPass lat58'11 M-N
Bait Fundg 58.1910 31-N
Exchange 344 1030 J-.T
Balt& P 18t6a m 1'11 A-0
BSP&0 Ist4 %8'53F-A
Bait Trao 1st 5s..'29 bi-N
No Bait Div 58 1042 J-D
Cent'! By con5s1032 ALN
Ext.& Imp 58.1032 MS
Chas Citylty let 58'2334
11415116¼' Chas By
El5s'99 ALS
t;harl C& A 2,178'10 A-0
100%' City & Sub 1st 58..'22 J.D
110% 117% City's, Sub(Was)lst53'48
toil '1,100
Coal & lIly 1st 58'20E-A
Col&Grny lat6a.19103-3
10))
Colisol Gas 58..1039 J-D
1014,102
Ctfs iudebt 4115
J4
lul
! Cons G E P 4%s'35.J4
'
Fair& CI Tr ist58'38.A-0
70%1 77%1 (la& Ala la con Os'45J 4
GaCar&N 1st 5s g'29J-J
Georgia P 1st tis....'22 J-J
85114 88
GaSo& Fla 1st 5s 1945J4
38%; 39 0-B'S Brew 3-48 195151-8
2d income 5s 1951 31-N
10176'
Knoxv Trac 1st 5s'28A.0
Laken El 1st gu58'42.31-S
Macon By& LtIst58'63J4
30
Memphis St let 68'45 J4
57
AletSt(Wasli)lst58'25 FA
185 2U0
Mt Ver Cot Duck let 68.
223
Npt N&O P 1st 58'38 M-N
Nor&Por Tr Ist5s',30J-D
7
6
204 Norfolk St 1st Os
North cent4%31025 A-0
Series A 58 1920. ...J4
Series B 58 1020. .34
7315
70
Pitt Un Trac 53 1907.J4
14 2
Polo Val 1st 5a 1091 .34
Say Fla &West58'34 A-0
Saab & ttoan 5s 1920.3-J
1004 100% South Bound 1st 58..A.0
U El L&P let4328'29 ALN
102 104
By & El 1st 48'49 ALS
......
92
Income 451949
JD
100 100%
Funding Os lit30...J-D
Va Mid 28 ser Os '11.11-8
3d series Os 1910..M-S
9415
100.4 100%
4th sec 3-4-5s 1921.31-S
96
96%
6th series 58 11126.M.S
107
Va (State) 38 new'32.34
Fund debt2-3s 1091.34
West N C con Os 1014 J4
WeaVaC&P lat°gill J4
103%
Wil & Weld 58..1935.34
93'> 97
105',. 10612
102%
101 101%
109
110
87
874
684 99
101'>, 104%
105 106
113 1134
106 107
45
40
104
1094
90 100
0634 973$
106
73 % 74
86
105%
105
1004
92Y
84%
62'. 624
8512 88
100 100%
Ex-rights. 11113 paid. t $124 paid. t $1315 paid. 4 $31 Pail a Re0e1Pt.-1- b $23 paid. c$30 paid. (14142% pat&
THE CHRONICLE
452
[VOL. LXXXXII.
kniesttnent atxd *tail:road irctelligence.
RAILROAD Gri.OSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
ran be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period The returns of the electric railways are brought together separately on a subsquent page.
Lates; Gross Earnings.
ROADS
Week or
Month.
Current
Year.
July 1 to I' atest Date
Previous
Year.
Current
Year.
Previous
Year.
Lai43: Gross
ROADS.
Week or
Month.
Earnings.
Curren.:
Year.
July 1 to Lat,s1Data.
Previous
Year.
Current
Year.
Previous
Year.
5
Ala N 0 & Tex PacN Y Ont & Western December.. 734,160 636,951 4,977,401 4,449,260
N 0 & Nor East.. January__ 319,823 292,871 2,160,376 2,007,483 NYNH& Hartf_. December 5,032,912 4,949,624 32,365,222 31,081,065
Ala & Vicksburg_ January___ 154,949 146,057 1,108,826 1,019,575 eNYCh Hud Riv December 8,455,54.; 3,012,452 52,937,679 50,598,089
Vicks Shrew & P_ January__- 135,585 126,430
949,320
880,024
Lake Shore & H S December 4,104,336 3,970.469 25,707,082 24,865,889
Ala Tenn & North__ December
11,850
8,083
57,790
39,420
n Lake E ec West December
488,291 495,209 2,942,446 ..s.876,649
1st wk Feb
Ann Arbor
38,335 1,211,457 1,148,700
36,647
Chic Ind ec South December
359,806 325,035 1,813,910 1,796,630
Atch Topeka & S Fe December 9,602,113 8,389,776 55,676,326 52,897,541
Michigan Central December 2,577,490 2,345,050 15,707,410 14,825,096
Atlanta Birm & Ati 1st wk Feb
52,737 1,708,188 1,563,614
60,436
Cleve C C & St L.. December 2,749,037 2,438,616 16,241,736 15,149,719
Atlantic Coast Line December 3,114,245 2,892,845 14,922,984 13,973,645
Peoria & Eastern December
334.008 283,412 1,944,309 1,690,504
g Baltimore ec Ohio December 6,841,826 6,984,581 40.996,377 45,027,781
Cincinnati North.. December
106,942
95,807
704,311 - 653,060
115,436 105,810
707,979
B & 0 Ch Ter RR December
620,536
Pitts & Lake Erie December 1,092,133 1,379,792 8,709,078 0,506,305
Bangor & Aroostook December
256,068 220,437 1,498,504 1,415,670
Rutland
December
264,272 240.700 1,863,489 1,732,375
Bellefonte Central January___
5,251
54,294
6,066
41,385
N Y Chic & St L_ December
991,800 958,334 5,789,354 5,404,735
Boston & Maine
December 3,528,564 3,436,362 23,529.782 22,756,189
Toledo & Ohio C.. December
446,892 355,568 2,924,299 2,311,353
28,185
Bridgeton & Saco R December
3,635
26,239
Tot all lines above December 21070643 20910 433 137345102 130960403
3,336
Buff Roch & Pittsb 2d wit Feb 181,494 181,365 6,068,266 5,784,775 N Y Susq & West.... December
337,201 310,420 1,890,291 1,746,599
Buffalo & Susq
199,184 172,832 1,194,988 1,258,434 Norfolk Southern.._ December
December
253,978 216.436 1,432,352 1,307,981.
Canadian Northern.. 1st wk Feb 159,400 168,700 9,028,600 7,750,300 Norfolk ec Western.. December 2,935,533 2,786,550 18,494,622 17,329.917
Canadian Pacific
1st wk Feb 1,160,000 1,438,000 62,597,652 57,370,512 Northern Central.... December 1,159,340 1,148,240 6,733,254 6,667,654
Northern Pacific
Central of Georgia.._ 1st wk Feb 269,500 250,900 8,131,083 7,521,651
December 5,013,848 4,389,908 36,478,552 40,071,711
Central of New Jer_ December 2,957,045 2,799,926 15,017,929 14,432,471 Pacific Coast Co
December.. 605,664 608,000 4,370,717 4,276,797
312,744 284,954 2,044,572 1,978,566 Pennsylvania Co.._ _ December.. 3,776,570 4,019.803 28,403,030 27,768,342
December
Central Vermont..
1,673
51,413
45.395 d Penn-E of P &
Chattanooga South_ 2d wit Jan
2,095
December 13436 517 13877 317 83,916,641 83,424,241
Ches & Ohio Lines.. 1st wk Feb 571,735 518,494 20,326,832 18,715,061
d West of P & B.. December
Dec. 23 1,200
Inc. 1,64 6,800
Chicago & Alton
1st wk Feb 243,690 263,550 9,150,392 8,451,410 Pere Marquette
January
1,106,749 1.146,294 9,712,934 9,413,038
Chic Burl & Quincy December.. 7,451,014 6,561,482 48,261,260 45,410,618 Phila Bait & Wash_ Decem ber 1,587,503 1,480,203 10,016,938 9,155,838
Chic
Great
West
Feb
p
227,902 235,663 7,731,157 7.041,269 Pitts Gin Ch & St L.. December 2,772,812 2,774,370 17,642,286 16,760,583
1st wk
Chic Ind & L(MII8V- 1st wk Feb 104,807 111,966 3,740.120 3,592,274 Raleigh & Southp't December
14.641
19,236
80,208
78,096
Chic Ind h Southern -See New York Can tral.
Reacting Company
St
Paul_ December 5,407,238 4,345,148 35,522.391 3 ,912,588
Chic Mil &
Phila & Reading_ December 4,012,167 3,936,286 23,053,290 22,280,517
Ch Mil & Pug Sd_ December 1,226,120 800.077 7,513,501
Coal & Iron Co__ December 4,213.084 3,407,748 16,766,172 15,889,784
Chic & North West.. December 6,100,729 5,340,466 40,579,807 39,165,192
Total both cos..... December 8,225,251 7,434,034 39,819,468 38,170,301
Chic St P M & 0
December 1,373,621 1,102,152 8,888,683 7,700,842 Rich Fred & Potom December
187,424 188,882 1,092,979 1,019,038
Cin Ham ec Dayton December
758,752 793,159 5,004,886 4,977,943 Rio Grande Juno.._ November
95,204 110,962
478,130
491,225
Clev Gin Clue & St L -See Now York Con tral.
Rio Grande South.... 1st wit Feb
7,668
12,507
368,875
310.389
Colorado Midland
December
162,932 184,850 1,116,566 1,307,578 Rock Island Lines__ December 6,042,335 5,079,705 36,517,883 34,730,741
Colorado & South.._ 1st wk Feb 269,369 328,929 10,705,244 10,380,763 St Jos ec Grand Isl.. December
141,527 115,722
924,000
869,298
Copper Range
November..
61,657
341,152 St Louis ec San Fran December 3,014,986 3,510,997 22,770,540 21,631,164
318,201
67,054
Cornwall
December
12,856
20,792
Chia & East
95,427
86,251
December 1,182,289 1,046,620 6,589,948 6,018,725
Cornwall & Leban_ December
28,306
235,232
189,235
'
, & Ter H December
41,052
Evans
231,757 201,624 1,43! ,071 1,287,622
Cuba Railroad
December
237,118 211.583 1,261,935 1,019,266
Total of all lines.. December 5,329,032 4,759,242 30,799,530 28,937,513
Delaware & Hudson December 1,695,839 1,758,680 10,762,065 10.301,184 St L Rocky Mi..2.:?ac December.. 220,356 178,218 1,119,390
907,098
Del Lack & West
December 3,033,375 2,998,097 18,534,818 18,487.873 St Louis Southwest_ 1st wk Feb 248,592 223,612 7,746,919 6,931,376
Deny & Rio Grande 1st wk Feb 351,500 413,000 14,981,318 14,480,876 San Ped LA h'S L.. Nove.11iber_
708,717 641,198 3,350,374 3,469,246
Denver N W & Pac_ 4th wk Jan
15.980
693,271
15,231
611,522 Seaboard Air Line_ _ 1st wk Feb 498.781 481,095 12,578,515 11,671,930
26,563
Det Tel & Iront Sys 1st wk Feb
33,184 1,207,317
973,486 Southern Indiana.... November_ 124,372 124,066
743,346
604,566
Detroit & Mackinac 1st wit Feb
22,994
710,952
18,505
710,997 Southern Pacific Co December 11566 464 11316 037 71.137,723 69,951,983
Dui & Iron Range.._ December
136,509 139,362 5,072,580 0,476,335 Southern Railway_.. 1st wk Feb 1,192,684 1,161,145 37,060,918 34,925,656
Dul So Sh ec Atl_
51,323 2,015,148 1,990,951
45,080
Mobile & Ohlo___ 1st wk Feb 214,431 208,678 6,714,351 6,324,673
1st wk Feb
643,304 611,620 3,652,956 3.573,877
El Paso & Sou West December
Cln N 0 & Tex P_ 1st wit Feb 187,501 173,700 5,781,962 3,360,746
Ala Great South._ Fit wk Feb
Erie
December 4,546,742 4,575,497 29,596,397 28,447,031
89,529
73,842 2,802,672 2,468,835
12,136
Gene .1a Sou& Fla 1st wk Feb
11,799
2,084
1,851
Fairchild & Nor E._ December
65,045
64,596 1,429,864 1,390,851
496,797
452,698
64,841
Texas o Pacific..___ 1st wk Feb 289,554 291,552 10,557,224 0.995,319
68.342
Fonda Johns & Glow December
295,385 282,806 1,643,728 1,585,067 Tidewater & West_ December
Georgia Railroad
December
43,432
8,330
7,559
41,275
Toledo Peor & West 1st wk Feb
Georgia South & Fia -See Soul hern Rail way.
807,487
20,544
19,728
725,220 •
Grand Trunk Syst_ _ 1st wk Feb 740,275 729,669 27,197,915 26,649,760 Toledo St L Ss West 1st wit Feb
71.087 2,326,676 2.340,625
61,754
Grand Trk West_ 1st wk Feb 115,399 106.664 3,720,493 3,636,942 Tombigbee Valley__ December
7,825
8,246
43,484
40,659
34,635 1,268,149 1,240,488 Union Pacific Syst_ December 7,347,352 7,034,834 49,825,417 47,850,830
38,246
Det Gr Hay & Mil 1st wk Feb
31,924 1,152,326 1,274,400 Vandalia
24,274
December.. 930,442 810,593 5,052,446 4,955,552
Canada Atlantic_ 1st wit Feb
Great Northern Syst January __ 3,533,567 4,195,807 38,377,164 39,194,314 Virginia & Sou West December
04,384
124,164
677,378
616,589
179,553 207,313
655,570
698,603 Wabash
Gulf & Ship Island_ October __
2d wk Feb 522,811 548,6C., 19,312,567 18,289,752
December.. 583,563 553,454 4,204,611 4,045,190 Western Maryland_ December
Hocking Valley
553,417 524,2
3,776,001 3,434,789
Illinois Central _ _ _ _ January _ _ 5.214,151 4,913,048 36,823,775 34.287,834 West Jersey & Seash December
386,674 346,374 3,708,306 3,367,406
Internet & Gt Nor.. 1st wk Feb 154,000 145,000 5,892,926 5,375,405 Wheeling & Lake E November.. 584,280 621,756 3,164,868 3,092,772
1st wk Feb 165,748 127,540 5,229,670 4,950,578 Wrightsville & Tenn December
a Interoccanlo
33,701
26,670
167,177
169,303
65,158 2,146,762 2,061,983 Yazoo & Miss Valley January __ 1,056,21 806,791 6,687,468 0,193,123
67,071
1st wit Feb
Iowa Central
November_ 261,078 248,030 1,443,087 1,185,156
Kanawha & Mich
917,210 801,949 5,382,994 4,668,746
Kansas City South_ December
51,200 1,169,871 1,004,241
56,700
K C Hex & Orient.... 4th wit Jan
December 3,033,692 3,022,795 18,714,036 18,237,720
Lehigh Valley
Current
Previous
43,734
36,982
254,964
December
Lexington & East
224,531
Period.
Year.
• Various Fiscal Years.
Year.
Inc. 43, 150
Inc. 318, 345
Long Island
December
122,526 102,266
723,035
Louisiana & Arkan.. December
639,084 Bellefonte Central
Jan 1 to Jan 31
16,066
$5,251
107,016
97,790
642,653
Loulsw Hend & St L December
594,706 Delaware ec Hudson
Ian 1 to Dec 31 20,397,317 19,598,551
a Louisv & Nashv
1st wk Feb 1,049,960 1,076,180 33,504,100 31,446,799 a Mexican Railway
7
889,400
Jan 1 to Feb
785,600
12,538
12,032
92,775
Macon & Birm'ham January __
94,155 a Mexico North Western
Jan 1 to Nov 30 2,024,701 1,151,939
678;469 662,884 4,727,122 4,670,214 e N Y Central & Hudson River_ Jan 1 to Dec 31 09,908,478 93,172,861
December
Maine Central
32,202
36,049
232,034
Maryland & Penna.. December
Lake Shore & Michigan South Jan 1 to Dco 31 49,420.211 45,110,907
218,732
a Mexican Railway_ 1st wk Feb 176,000 144,200 5,101,300 4,687.600
n Lake Erie & Western
Jan 1 to Deo 31 5,513,326 5,043,990
a Mexico Nor West_ November.. 181,364 122,871
955,810
Chicago Indiana & Southern_ Jan 1 to Deo 31 3,739,668 3,223,313
534,190
Michigan Central
-See New York Con tral.
Michigan Central
Jan 1 to Dec 31 29,694,815 27,415,466
13,842
14,681
Mineral Range
459,121
1st wk Feb
Cleve Cin Chicago & St Louis.. Jan 1 to Deo 31 30,423,005 27,657,741
519,567
87.063 3,258,308 3,075,668
95,222
Minneap & St Louis 1st wk Feb
Peoria & Eastern
Jan 1 to Deo 31 3,536,068 3,020,856
Minn St P & 85 511 1st wk Feb 341,162 381,155 13.709,947 14,780,910
Cincinnati Northern
Jan 1 to Deo 31 1,294,277 1,177,691
Chicago Division'
Pittsburgh & Lake Erie
Jan 1 to Deo 31 17,052,097 14,838,947
77,485
Mississippi Central.. December..
81,609
Rutland
468,214
434,338
Jan 1 to Dec 31 3,339,834 3,102,433
is Mo Kan & Texas_ 1st wk Feb 496,512 462,615 18,735,926 16,735,039
New York Chicago & St Louis Jan 1 to Deo 31 11,238.877 10,076,207
Missouri Pacific
Toledo & Ohio Central
2d wk Feb 1,009,000 1,061,000 34,077,396 33,366,090
Jan 1 to Deo 31 5,089,980 3,040,889
Total all lines
Mo Pao h Iron Mtl
Jan 1 to De: 31 200251242 237786391
Central Branch_ J 4th wk Jan 1,495,000 1,465,000 31,981,502 31,250,355 Northern Central
Jan 1 to Dec 31 12,923,648 12,378,648
Nashw Chatt & St L December.. 1,064,643 918,368 5,988,109 5,698,548 d Penn-East of Pittsb & Erie.. Jan 1 to Dec 31 164340 500 153567 090
a Nat Rys of Nlex_t_ 1st wit Feb 1,175,895 1.057,452 38,452,833 34,347,886
d West of Pittsburgh & Erie.... Jan 1 to Dec 31
Inc. 11, 026,700
Nevada-Cal-Oregon 1st wk Feb
6,136
219,369
3,680
297,532 Phila Baltimore & Washington_ Jan 1 to Deo 31 19,099,349 17,621,049
Nevada Central_ __ _ December
6,164
9,282
43,626
39.053 Pittsb Gin Chicago & St Louis._ Jan 1 to Dec 31 34,433,977 30,359,683
N 0 Great Northere December.. 132,866 123,927
671,466 Rio Grande Junction
836,965
Dec 1 to Nov 30 1,033,94 ,
989,114
N 0 Mobile & Chic.. Wk Feb 4
34.412 1,097,830
42.318
Jan 1 to Feb
977,831 Texas & Pacific
7 1,612,094 1,652,835
West Jersey & Seashore
Jan 1 to Deo 31 6,368,258 5.765,958
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries.
Cuent Year Prey's Year Inc. or Dec.
$
17,430,211
10,074,886
13,408,331
13,941,920
.
19
.,
,
448.290
11.377,788
12,308,591
12,958,296
18,325,728
12,640,714
3
16,078,284
9,534,996
12,525,875
12,947,796
18.207,431
11,021,410
11,925,053
12,428,232
18,028,059
12,703,442
3
+460,027
+539,890
+882,474
+994,124
+1,237,859
+556,336
+473,538
+530,064
+297.889
-62,728
%
Monthly Summaries.
Current Yd. PreviousYr. Inc. or Dec.
Mileage Curr.Yr. Prey.Yr.
237,569 232.463 225,AM ,
April
1n111,1,911
May
237,560 232,494 234
331
June
238,129
BON
July
August ........238,493 239,404 254,005,972 235,726,000
September 240,678 237,809 256,647,702 246,335,586
241,215 237,835263,464605
Ootober
.260,821,546
November...237,396 233,340 246,650,774 245,651,263
December _228.687 225.177 229,379.163 214,311,201
88,919
January
86,559 59.712,430 58,341,731
%
2.71
week Nov (40 roads)_......
+28,6220,685 14.66
5.63
week Dec (34 roads).___
+33,241,261 16.63
7.11
week Deo (42 roads)____
roads)____
(41
7.68
Deo
week
+12.812.422 13
5.
.9
27
0
6.80
week Dec (48 road.8,)---+18,279,972 7.75
5.05
week Jan (44 roaush---+10,312.116 4.19
roads)____
3.97
week Jan (43
+2,643.059 1.01
4.27
week Jan (44 roads)____
+009,511 0.40
week Jan (42 roads)..--1.65
+ 15.067,962 7.03
0.70
week Feb (42 roads)____
+1,370.669 2.31
a mezicaa currency. d Covers lines directly operated. e Includes the New York & Ottawa. the St. Lawrence & Adirondack and the Ottawa Eb
N. Y . Ity. the latter of which, being a Canadian road, does not make returns to the Inter-State Commerce Commission.
Includes Evansville
India.)a tat. g Includes the Cleveland Lorain as Wheeling Fty. in both years. n Includes the Northern Ohio P.R. p Includes earnings of &Usual:MY
h Ft OoLige and Wise Minn. & Pacific. s Includes Louisville & Atlantic from July 1 1909 and the Frankfort 83 Cinclunat! from NJV 11909.
41••
1111d04 the Mexican International from July 1910. u Includes the Texas Central in 1910.
8th
let
241
Id
8th
1st
Id
Id
8th
lat
ilialt:IN TtP,E2:11g74 +27,765,272
PEB. 18 1911.1
THE CHRONICLE
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the first week
of February. The table covers 42 roads and shows 0.70%
decrease in the aggregate under the same week last. year.
453
-Gross Earnings
Net Earnings
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
•
$
Delaware & Hudson_b__Dec 1,695,839 1,758,680
686,147
841,155
Jan 1 to Dec 31
20.397,317 19,598,551 8,220,589 8.140,072
Denver & Rio Grande_a_Dec 1,979,470 1,815,330
567,192
408,003
July 1 to Dec 31
First week of February.
Increase. Decrease.
1910.
1911.
12,981,718 12,370,776 4.001,240 3,789,828
Duluth So Sh & Atl_b__Deo 249,753
236,365
72,164
75,638
July 1 to Dec 31
1,734.948 1.719,743
601,751
570,560
Alabama Great Southern
73,842
89,529
15,687
Erie_a
4,546,742
Dec
36,647
Ann Arbor
38,335
4,575,497 1,237,128 1,186.315
1,688
July 1 to Dec 31
29,596,397 28,447,031 8,546,587 8,348,891
Atltanta Birm & Atlantic
60,436
52,737
7,695
167,918
Buffalo Rochester & Pittsburgh
181,364
13,446 Georgia Railroad_b
Dec
295,385
282,896
89,145
96,892
Canadian Northern
159,400
168,700
July 1 to Dec 31
9,300
1,643,728 1,585,067
436,610
457,026
Canadian Pacific
1,160,000 1,438,000
278,000 Grand Trunk of Canada269,500
Central of Georgia
250,900
18,600
Grand Trunk Ry
Nov 2,989,491 2,965,159
649,191
756,254
Chesapeake Bo Ohio Lines
571,735
518,494
53,241
July 1 to Nov 30
15,064,737 14,812,653 4,083,480 4,213,416
Chicago & Alton
243,690
263,550
19,860
Grand
Trunk
227,902
Western
Chicago Great Western
Nov
476,917
492,490
235,663
7,761
49,152
99,764
July 1 to Nov'30
Chicago Ind & Louisville
104,807
2,441,523 2,586,058
111,966
7,159
411,949
687,149
187,501
Clno New On & Texas Pacific
175,700
11,801
Det Grand Hay & Mil_Nov
201,959
172,760
66,184
49,638
Southern
Colorado &
269,369
59,560
328,929
July 1 to Nov 30
866,723
860,397
167,406
217,774
351,500
Denver & Rio Grande
413,000
61,500
Canada Atlantic
176,654
ov
208,773
37,959
65,698
22,994
Detroit & Mackinac
18,505
4,489
July
1
to
Nov
30
845,311
940,207
95,627
159,621
Detroit Toledo & Ironton
26,563
6,621
33,184
Duluth South Shore & Atlantic_
45,080
6,243 Illinois Central_a
Dec 5,431,137 4,953,948 1,605,178 1,049,694
51,323
July 1 to Dec 31
Grand Trunk of Canada
31,609,624 29,374,786 7.929,561 5,891.015
Grand Trunk Westerh
740,275
729,669
10,606
g Interoceanic of Mexico_D ec 744,387
763,116
282,427
343,340
Det Grand Haven & Milw_
July 1 to Dec 31
4,300,779 4,078,804 1,575,391 1,386,450
Canada Atlantic
Kansas
City
Southern_
Dec
b917,210
International & Great Northern
801,949
329,331
280,561
154,000
9,000
145,000
July 1 to Dec 31
5,382,994 4,668,746 2,040,571 1,633,842
Interoceanic of Mexico
165,748
38,208
127,540
Iowa Central
Long Island
67,071
Dec
1,913
65,158
Inc. 43,150
Dec
.151.509
Louisville do Nashville
Jan. 1 to Dec 31
1,049,960 1,076,180
26,220
inc.730.465
Dec.333,558
Mexican Railway
176,000
31,800
144,200
Louisiana & Arkansas_a_Dec
122,526
102,266
45,842
39,817
Mineral Range
839
13,842
14,681
July 1 to Dec 31
723,035
639,084
254,054
231,018
Minneapolis & St Louis
95,222
8,159
87,063
Louisv
&
Hend
St
Lou_a
ec
D
107.016
Minneapolis St Paul & S S M__}
97,790
18.334
39,993
341,162
32,203
381,155
July 1 to Dec 31
642,653
594,706
Chicago Division
147,517
162,848
Missouri Kansas & Texas
g Mexico North West_a_Nov
496,512
33,897
462,615
181,364
122,871
98,029
60,082
Missouri Pacific
Jan 1 to Nov 30
1,067,000 1,054,000
2,024,701 1,151,939 1,126,273
13,000
411,938
Mobile & Ohio
214,431
5,753
208,678
Mineral Range_b
Dec
84,934
69,791
6,317
11,327
National Railways of Mexico
1,175,895 1,057,452 118,443
July 1 to Dec 31
379,875
439,286
3,210
72.634
Nevada-California-Oregon
2,447
3,689
6,136
Rio Grande Southern
242,402
7,668
373,088
12,507
4,839 Minn St P & S S M_aDec 997,712 1,044,496
July
7,159,472
Dec
1
to
31
St Louis Southwestern
8,592,204
2,593,236
248,592
223,612
4,031,291
24,980
Seaboard Air Line
498,781
481,095
17,686
Chicago Division_a___Dec 695,349
573,855
88,190
70,114
Southern Railway
1,192,684 1,161,145
31,539
July 1 to Dec 31
4,692,038 4,277,460 1,158,931 1,283,415
Texas & Pacific
289,554
291,552
1,998 Mississippi Central _b_ __Dec
81,699
77,485
39,706
Toledo Peoria 53 Western
31,941
• 19,728
20,544
816
468,214
July 1 to Dec 31
434,338
196,011
Toledo St Louis & Western
180,111
61,754
71,087
9,333
Wabash
566,575
Missouri Kan & Tex- b_ -Dec 2,696,334 2,298,254
528,181
871.004
38,394
643,682
15,924,071 14,156,840 5,219,545 4,956,775
July 1 to Dec 31
Total (42 roads)
12,640,714 12,703,442 494,895 557,623 Missouri Pacific_b
Dec 4,459,874 4,248,735 1,185,231 1,159,748
Net decrease (0.70%)
62,728
July 1 to Dec 31
27.695,376 27.070,090 7,059,478 8,709,162
°National Rys of Mexico_ Dec 5,370,886 5,121,802 2,227,231 1,988,691
July 1 to Dec 31
31,944,187 28,271,669 13,239,916 10,777,510
Net Earnings Monthly to Latest Dates.-In our "Railway
-Oregon_ b__ Dec
24,990
31,590
4,309
14,511
Earnings" Section, which accompanies to-day's issue of the Nevada-Cal
July 1 to Dec 31
204,609
265,050
83,728
149,714
"Chronicle" as a special supplement, we print the December cNYC & Hud Riv_b___ Dec 8,455,546 8,012,452 1,630,553 2,291,793
Jan 1 to Dec 31
99,908,478 93,172,861 25,829,391 28,578,034
returns of earnings and expenses (or in the absence of the
Lake Sh & Mich Sou b Dec 4.104.336 3,979,468
876,389 1,356,238
December figures those for the latest previous month) of
Jan 1 to Dec 31
49,420,211 45,110.997 14,499,278 17,087,336
every steam-operating railroad in the United States which is
e Lake Erie & West_ b_ Dec 488,291
495,209
161,288
109,545
Jan 1 to Dec 31
obliged to make monthly statements to the Inter-State
5,513,326 5,043,990 1,216,233 1,183,547
Chic Ind & Southern b Dec 359,806
Commerce Commission at Washington.
325,935
100,569
104,608
Jan 1 to Dec 31
3,739,668 3,232.313
921,314
795,238
The Inter-State Commission returns are all on a uniform
Michigan Central_b..__ Dec 2,577,490 2,345,050
663,724
667,488
basis, both as to revenues and expenditures, and possess
Jan 1 to Dec 31
29,594,815 27,415,466 8,065,909 8,915,938
special utility by reason of that fact. In a number of
Clev Cinc Ch & St L b Dec 2,749,037 2,438.616
641,993
559,947
Jan 1 to Dec 31
30,423,005 27,657,741 6,927,385 7.946,247
instances these figures differ from those contained in the
Peoria & Eastern_ b_ _ Dec 334,098
283,412
92,829
85,145
monthly statements given out by the companies themselves
&mil to Dec 31
3,536,068 3,026,856
972,948
896,712
for publication, and in which the accounts are prepared in
Cincin Northern..b___ Dec
106,942
95.897
20,491
29,812
accordance with old methods of grouping and classification
Jan 1 to Dec 31
1,294,277 1,177.691
270,788
278,578
pursued in many instances for years. We bring together
Pitts & Lake Erie_ b__ Dec 1,092,133 1,379,792
445,430
732,536
Jan 1 to Dec 31
17,052,697 14,838,947 9,106,631 8,419,742
here (1) all the roads where there is a substantial difference
Rutland b
Dec 264.272
240,700
between the two sets of figures, so that those persons who
70,143
56,960
Jan 1 to Dec 31
3,339,834 3,102,433
983,578
900.588
for any reason may desire to turn to the company statements
N Y Chic & St
Dec 991,800
958.334
279,398
369,240
will find them readily available. We also give (2) the re11,238,877 10,076,207 3,409,221 3.356,832
Jan 1 to Dec 31
turns of such roads (even where the figures correspond
Toledo & Ohio Cent_b Dec 446,892
355,568
142,700
98,457
Dec
1
Jan
5,089,986 3,940,889 1,847,105 1,254,131
to
31
exactly with those in the Inter-State Commerce reports)
Total
all
lines_b
Dec21,970.643
20,910,433
5,073,764 6,513,513
which go beyond the requirements of the Commission and
Jan 1 to Dec 31
260,251,242 237786,391 74,049,741 79,612,923
publish their fixed charges in addition to earnings and ex- N Y Ontario & West_a__Dea 734,169
636,951
151,112
176,511
July 1 to Dec 31
penses, or (3) which have a fiscal year different from that of
4,977,401 4,449,260 1,545,068 1.361,439
the Inter-State Commerce Commission, in which latter case N Y Susq & Western_a_ _ Dec 337,204
310,420
126,869
102,325
July 1 to Dec 31
1,890,291 1,746,599
486,742
584,366
we insert the road so as to show the results for the company's Norfolk
& Western_b__ _ Dec 2,935.533 2,786.559
981,526
1,081,281
own year. We likewise include (4) the few r6ads which
July 1 to Deo 31
18,494,621 17,329,016 6,841,126 7,198,386
operate entirely within State boundaries, and therefore do Northern Central- b
Dec 1,159,340 1.148,240
125,498
297,198
Jan
1 to Deo 31
12,923,648 12.378,648 2,138,037 2,797,237
not report to the Federal Commission, and (5) Mexican and
Coast
Dec 605,664
608,000
87,107
91,260
Canadian companies. We add (6) the roads which have Pacific
July 1 to Dec 31
4,370,717 4,276,797
911,565
956,700
issued their own statements for December, but have not yet Pennsylvania-Lines
directly operatedfiled any returns for that month with the Commission.
East of Pitts and Erle_Dec13,436,517 13,877,317 2,355,779 4,237,779
Jan 1 to Dec 31
164,340,590 153.567,090 44,346,781 46.420,381
Finally (7) we give the figures for any roads that have
West of Pitts and Erie.Dec
Dec. 231,200
Dec. 681,200
already submitted their January statement.
Jan 1 to Dec 31
inc.11,026.700
Dec.1,292,900
-Gross Earnings--NetEarnings
- Pere Marquette_b
Jan 1,196,749 1,146,294
52,564
217,447
Current
Pry
eevaiorr
Previous
Current
July 1 to Jan 31
9,712,934 9,413,438 2,217,736 2,917,447
Roads.
Year.
Year.
Year.
Phila. Bait & Wash
Dec 1,587,503 1,480,203
336,650
$
423,350
$
S
$
Jan 1 to Dec 31
19,099,349 17.621,049 4,687.121 4,762,221
Atch Top & Santa Pe_b_Dec 9,602,113 8,389,776 53,204,189 52,364,410
July 1 to Dec 31
498,242
55,676,326 52,897,541 520,475,194 519,317,669 Pitts Cin Chic & St L_a_Dec 2,772,812 2,774,370
811,608
Jan 1 to Dec 31
34,433,977 30,359,683 7,386.525 8,359,794
Bangor & Aroostook_b__Deo 256,068
220,437
76,500
87,018
July 1 to Dec 31
•
1,498,504 1,415,670
551,646 Reading Company515,290
Phila & Reading_b___Dec 4,012,167 3,936,286 1.575,907 1,617.438
Bellefonte Central_b____Jan
6,066
5,251
def 545
def 244
July 1 to Dec 31
23,053,296 22,280,517 8,269,330 8,747.347
Bridgeton & Saco Riv__Deo
3,336
,635
1,088
504
Coal & Iron Co_ b
Dec 4,213.084 3,497,748
282,931
233,915
July 1 to DecDeo 31
28,185
8,794
8,497
26,239
July 1 to Dec 31
16,766,172 15,889,784
209,123
506,270
Buffalo Roch & Pitts_b_Dec 784,377
701,834
261,905
287,996
Total
8,225,251
both
Dec
cos_b
7,434,034
1,858,838
1,851,353
July 1 to Dec 31
4,937,240 4,704,710 1,869,375 1,856,093
July 1 to Dec 31
39,819,468 38,170,301 8,478,453 9,253,617
Canadian Northern
Dec 1,255,400 1,160,300
359,200
334,400
Reading Company_ _Deo
149,730
145,534
8,046,600 6,789,400 2,491,000 2,108,000
July 1 to Dee 31
July 1 to Dec 31
882,587
884,924
Canadian Pacifica
Dec 8,705,284 8,214,758 3,286,534 3,115,424
Total all Companics_Dec
2,008,568 1,996.886
July 1 to Dec 31
55,787,652 49,925,512 22,616.708 20,069,878
July 1 to Dec 31
9,361,040 10,138,542
Central of New Jer_b___Deo 2,957,045 2,799,926 1,541,228 1,551,769
95,204
110,902
n28,561
July 1 to Deo 31
n33,270
15,017,929 14,432,471 6,557,438 6,834,549 Rio Grande Junction_ _ _ _Nov
Deo 1 to Nov 30
1,033,948
989,114 8310,184 n296,734
Chesapeake & Ohlo_b___Deo 2,684,020 2,505,449
898,330
998,733 Rio Grande Southern_b_Deo
47,084
44,891
19,092
11.681
July 1 to Dec 31
16,958,167 15,654,715 5,986,112 6,425,816
July 1 to Dec 31
324,840
252,856
128,736
74,050
Chicago Great West'n_b_Dee 1,046,171
288.000
887,517
185,266
July 1 to Dec 31
6,584,735 5,926,234 1,854,548 1,736,961 Rock Island Lines_b___Dec 6,042.335 5,079,705 1,942,262 1,008,987
36,517,883 34,730,741 11,173,930 11,086,061
July 1 to Dec 31
Colorado Midland_a____Nov
195,472
255,253
24,842
80,904 St Louis & San Fran_ b__Deo 3,914,986 3,510,994
092,431
1,118,074
July 1 to Nov 30
953,634 1,122,728
147,100
241,392
22,770,520 21.631,164 7,119,408 6,412,115
July 1 to Dec 31
Colorado & Southern_b_Dec 1,558,233 1,421,575
626.710
553,517
Chicago do East Ill_b_Dec 1,182.289 1.046,620
315,634
386,567
July 1 to Deo 31
9,124,141 8,657,512 3,373,976 3,385,373
July 1 to Dec 31
6,589,948 6,018,725 2,102,401 2,122,062
Copper Rango_b
Nov
61,657
25,594
67,054
30,660
Evansv do T Irte_b__Deo
231,757
201,624
78,848
66.504
' July 1 to Nov 30
318,202
341,152
121,899
174,238
July 1 to Dec 31
1,439,071 1,287.622
545,057
536,359
Cuba RR
Dec 237,118
211,583
97,713
95,020
Total all lines_b
Dec
5,329,032
4,759,242
1.583,490
1,374,569
July 1 to Dec 31
520.202
1,261,935 1,019,266
347.104
July 1 to Deo 31
30,799,539 28.937.512 9,766,866 9,070.536
Roads.
-Gross Earnings--Net Earnings
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
••
•$•
d178,218
85,792
d64,262
St L Rocks Mtn & Pac a Dec 220,358
1;119,393 d907,098
d301,031
405,202
July 1 to Dec 31_
936,621
222,937
350,018
St Louis Southwestern.a.Dee 1.167,979
6,456,702 5,793,231 1,816,901 1,719,351
uly 1 to Deo 31
Dec11,566,464 11,316,037 3,723,310 3,714,039
Southern Pacifica
71,137,723 69,951,983 25,472,366 27,114,259
July 1 to Dec 31
Dec 1.763,169 1,655,169
Texas & Pacific_ b
671,209
652,650
Jan 1 to Dec 31
16,375,805 14,960,652 4,102,964 4,052,334
Peoria
&
West_b
Dec
21,973
Toledo
116,049
27,801
103,761
153,636
July 1 to Dec 31
679,752
597,061
160,463
29,061
January
9,112
108,007
107,615
Union Pacifica
Dec 7,347,352 7,034,834 2,835,644 2,455,815
23,656,752
July 1 to Dec 31
21,887,720
49,825,417 47,850,839
r212,989
Western Maryland_a___Nov
r184,156
567,451
569,810
July 1 to Nov 30
3,226,673 2,910,553 r1,180,925 r1,095,418
9,311
30,111
West Jersey & Seashore_Dec 386,674
346.374
Jan 1 to Dec 31
6,368,258 5,765,958 1,430,816 1,474,016
Yazoo & Miss Valley_a__Dec 1,292,289 1,047,070
640,735
367,962
979,281
July 1 to Dec 31
5,631,177 5,296,332 1,616,549
•
Roads.
Roads.
• •
QUARTERLY RETURNS.
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
.
a Net earnings here given arc after deducting taxes.
b Net earnings here given arc before deducting taxes.
c Includes the N. Y. & Ottawa, the St. Lawrence & Adirondack and the
Ottawa & N. Y. By., the latter of which, being a Canadian road, does not
make returns to the Inter-State Commerce Commission.
a These are corrected figures furnished by the company.
e Includes the Northern Ohlo RR.
g These results are in Mexican currency.
J The company now includes the earnings of the Atch. Top. & Santa Fe
By., Gulf Colo. & Santa Fe By., Eastern By. of New Mexico System,
Santa Fe Prescott & Phoenix By., Southern Kansas By. of Texas, Texas
& Gulf Ry., G. & I. By. of T. and C. S. S. & L. V. RR. In both years.
For December taxes amounted to $226,861. against $337,883 in 1909; after
deducting which, net for Dec. 1910 was $2,977,328, against $2,026,527 last
year. For period from July 1 to Dec. 31 taxes were $1,671,647 In 1910,
against $1,836,472 in 1909.
n These figures represent 30% of gross earnings.
r After allowing for miscellaneous receipts and net from coal and other
departments, total net earnings for Nov. 1910 were $215,583, against
$265,047 in 1909; and from July 1 to Nov. 30 were $1,286,410 in 1910,
against $1,316,925 in 1909.
Interest Charges and Surplus.
-Int., Rentals, &c.- -Bat, of Net Earns.
Current
Previous
Previous
Current
Year.
Year.
Year.
Year.
$
$
$
$
x10,198
z9,002
96,355
84,572
Bangor & Aroostook_ _ __Deo
x54,192
501,226
x142,283
572,960
July 1 to Dec 31
del 494
250
236
del 781
Jan
Bellefonte Central
def 136
640
593
495
Bridgeton & Saco River_Dec
3,646
3,715
5,079
4,851
July 1 to Dec 31
168,185 x189,311
174,321
x129,466
Buffalo Rods & Pitts___Dec
1,057,760 1,000,691 z1,242,631 x1,021,974
July 1 to Dec 31
545,307
552,852
995,921
Dec
998,917
Central of New Jer
3,191,111
2,889,189 3,366,327 3,045,360
July 1 to Dec 31
a576,059
a472,925
.
322,271
Dec
525,808
Chesapeake & Ohio
a3,802.012 a3,102,542 2,184,100 3,323,274
July 1 to Dec 31
215,767
203,666
x80,745 xdcf17,855
Chicago Great Western__Dee
1,258,100 1,413,464
x658,315 x339,251
July 1 to Dec 31
Nov
29,820
29,820 cdef14,648
c35,453
Colorado Midland
149,100
149,100
cdef51,536
30
c22,009
July 1 to Nov
247,022
c331,063
c308,651
Colorado & Southern___Dec. 271,565
1,622,927
1,521,675 c1,746,785 c2,013,812
July 1 to Dec 31
15,713
13,213
Nov
9,881
17,447
Copper Range
78,362
62,238
43,337
112,001
July 1 to Nov 30
36,667
36,667
Dec
61,046
58,353
Cuba RR
220,000
215,210
300,202
131,894
July 1 to Dec 31
464,206
d210,088 ddef9,306
Denver & Rlo Grande___Dec 509,412
3,034,251 2,632,656 d1,498,083 d1,491,602
July 1 to Dec 31
94,564
111,134 xdef15,917 xdef31,412
Duluth So Sh & At1___ _Dec
577,291
580,863
z63,342
x19,511
July 1 to Dec 31
62,717
61,910
x38,835
x45,810
Dec
Georgia RR
451,848
363,453
x39,179
x150,065
July 1 to Dec 31
27,877
24,139
z27,727
z24,849
Louisiana & Arkansas__Dec
x142,868
161,753
139,767 x150,674
July 1 to Dec 31
x12,056
21,894
20.452 zdef3,210
Loulsv Hend & St L_ __Deo
x67,715
x43,298
107,417
98,505
July 1 to Dec 31
19.220 xdef3,038 zdef7,860
10,602
Dec
Mineral Range
zdef11,038
xdef64,486
85,237
76,502
July 1 to Dec 31
z81,278
x280,267
575,967
Missouri Kan & Texas_ _Deo 625,914
3,512,501 3,305.423 x1,867,345 x1,706,819
July 1 to Dec 31
x12,732
x695
Nevada-Cal-Oregon
4,274
3,616
Dec
x134,816
x63.104
21,697
July 1 to Dec 31
25,567
84,327
29,676
92,184
N Y Ontario & Western_Dec 121,436
789,983
831,843
July 1 to Dec 31
571,456
713,225
409,299
611,154
470.126
Norfolk & Western
Dec 572,226
July 1 to Dec 31
3,081,510 2,796,315 3,759,616 4.402,070
360,954ydf.374,013 ydf.147,552
Jan
363,789
Pere Marquette
y453,571
2,532,256 2,448,325 ydf.635,471
July 1 to Jan 31
899,971 1,123,568 1,096,916
Dec 885,000
Reading Company
4,051,040
5,310,000 5,399,826
4,738,716
July 1 to Dec 31
8,333
20,228
8,333
24,937
Rio Grande JunctIon___Nov
210,184
100,000
100,000
196.734
Dec 1 to Nov 30
19,791
x730 z1ef7,475
18,791
Rio Grande Southern_ _Deo
114,244
x18,285 xdef33,311
115,117
July 1 to Dec 31
31,987
833,269
53,805
630,993
St L Rocky Mtn & Pac_ _Deo
6200,844
195,080
210,122
6100,187
July 1 to Dec 31
173,394
182,201
x194,148
.Dec
x109,999
Southwestern
Louis
St
1,055,560 1,037,560 z958,099
x954,238
July 1 to Dec 31
24,641
24,357
x7,070 xdefl,825
Toledo Peoria & West_Dec
144,487
149,405
x28,522
x19,986
July 1 to Dec 31
25,615 zdef13,222
24,333
x5,310
January
•
Roads.
Roads.
QUARTERLY RETURNS.
-Int., Rentals, &c.- -Bat. of Net Earns.Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
$
*
Boston & MaineOct 1 to Dec 31
July 1 to Dec 31
Jan 1 to Dec 31
Bos Rev Bch & LynnOct 1 to Dec 31
July 1 to Dec 31
Jan 1 to Dec 31
2,654,720
5,167,739
10,195,796
19,460
34,987
69,103
x96,467 x847,043
2,536,063
4,936,183 z1,274,932 x2,607,775
9,716,943 x1,512,776 x3,340,129
18,080
33,017
65,630
xdef3,050
x53,586
x53,597
zdef2,400
x52,802
z56,135
a These figures are after deducting other income.
b These are corrected figures furnished by the company.
c After allowing for miscellaneous charges and credits to income.
d These figures are after allowing for other income and for discount and
exchange. The sum of $10,000 is deducted every month from surplus
and placed to the credit of the renewal fund.
x After allowing for other income received.
y After allowing for outside operations, hire of equipment and other
Income.
ELECTRIC RAILWAY AND TRACTION COMPANIES.
Name of
Road.
Latest Gross Earnings.
Week or
Month,
Current Previous
Year.
Year.
•
Boston & Maine_ b11,399,204 11,097,341 2,501,469 3,175,654
Oct 1 to Dec 31
23,529,782 21,756,189 6,080,663 7,172,095
July 1 to Dec 31
44,130,767 41,812,383 10,879,418 12,367,732
Jan 1 to Dec 31
Bos Rev Bch & Lynn_b11,045
173,494
11,462
183,281
Oct 1 to Dec 31
73,463
78,032
489,301
468,043
July 1 to Dec 31
107,601
105,006
848,775
892.228
Jan 1 to Dec 31
INDUSTRIAL COMPANIES.
-Gross Earnings- -Nef Earnings
Previous
Current
Previous
Current
Year.
Year.
Year,
Year.
Companies.
3
s
$
8
282,954
338,111
548,474
486,118
Ed El III Co (Boston)__ _Jan
3,034,714 2,723,777 1,741,825 1,489,153
July 1 to Jan 31
•
[VoL. Lxxxxii.
THE CHRONICLE
454
Jan. 1 to latest ate.
Current
Year.
Pret iota
Yean.
-.
293,132
1,536,059
535,252
99,757
$
$
$
American Rys Co_ __ _ January _ 314,387 293,132
314,387
124,874 117,202 1,673,227
c Au Elgin & Chic Ry December
Bangor By & Elec Co December.. 47,515 45,156
565,637
11,003 10,167
Baton Rouge El Co__ December
110,174
November_
Binghamton By
27,609 25,911
By
December
7,672
8,001
Brock & Plym St
119,626
130,786
Bklyn Rap Tran Sys_ Dctober__ _ 1843,006 1774,322 18,298,858 17,301,007
29,520 27,909
Cape Breton Eleo Co_ December
326,010
285,799
23,850 20,161
23,850
20,161
Carolina Pow & Lt Co January __
55,509 52,252
533,991
497,595
Cent Park N & E Riv October__ _
66,741
831,167
754,488
Central Penn Trao_ _ _ December.. 73,791
875,078
771,582
Chattanooga By & Lt December.. 75,659 64,417
November_ 1155,132 1054,168 11,420,384 10,352,562
Chicago Rys Co
355,460
321,173
27,234
23,600
ClevPainesv & East _ December
464,066
376,592
40,834 33,596
Columbus (Ga) El Co December
October__ 114,932 113,842 1,287,879 1,276,420
Coney Is! &
139,292 119,766 1,469,318 1,320,122
Dallas Elect Corp__ _ December
686,843
616,381
Detroit United Ry__ _ 1th wk Jan 222,350 205,592
524,731
51,089 53,498
514,301
DDEB & Bat (Rea) Detober___
81;6,346
996.31*
Duluth-Superlor 'rrac Vovember. 90,309 85.5014
East St Louis & Sub_ December.. 202,814 185,22' 2,364,142 2,035,790
640,658
600,958
December
65,168
59,667
El Paso Electric
611,644
472,251
54,460 42,261
Fairm & Clarks Tr Co December
Ft Warne Zir Wabash
Valley Traction Co November_ 123,554 123,651 1,389,64Q 1,284,806
42dStM&SNAv (Rec) Dctober___ 133,841 125,005 1,196,311 1,121,337
115,123 100,867 1,312,986 1,206,544
Galv-Houst Elect Co_ December
90,144 1,132.578 1,029,011
Grand Rapids Ry. Co December.. 96.274
231,738
269,619
Havana Electric Co _ Wk Feb 12 48,912 39,132
Honolulu Rapid Tran
453,853
413,025
Dedember
41,162 36,070
& Land Co
319,966
December
25,032 26.083
311,474
Houghton Co Tr Co
Hudson & Manhattan Dctober___ 226,908 179,364 2,083,102
ti inois Traction Co_ _ November_ 578,769 479,820 5.597,6341 4,859.145
Detober___ 1210,956 1214,341 11,384,068
Interbor B T (Sub)
Interbor R T (Elev)_ October__ 1336,698 1313,083 12,646,779
55,396 49,012
Jacksonville Elect Co December
576,081
486,777
Kan City By & Lt Co December.. 684,385 022,049 7,518,335 6,926,265
95,570 89,062 1,206,112 1,109,084
Lake Shore Elec By. December
21,187 15,508
182,268
164,254
Long Island Electric_ October__
Metropolitan St (Rec) October__ 1208,758 1209,036 11,782,957 11,568,414
ec Lt Co_ November. 407,173 478,:)46 4,270,868 3,87 1,786
975.858
856.952
Milw Lt lit 1k: Tr Co_ November. 79,818 73,127
Montreal Street Ry_ _ December.. 377,274 337,563 4,456,169 3,916,206
Nashville By & Light December.. 170.372 159,277 1,832,465 1,724,380
New Orleans Ry & Lt November_ 543,640 534,376 5,706,423 5,5C 7,225
14 3,313
190,508
22,751
15,822
N Y City Interboro_ _ October..._
318,487
21 4 094
N Y & Long Island Tr October.._
35,759 31,728
99,152 83,345
948,896
831,626
N Y & Queens County October__ _
Nonf & Portsm Tr Co December.. 179,111 163,444
11,927
10,757
11,927 10,757
Northam Easton& W January __
North Ohio Trac & Lt December.. 201.973 182,912 2,437,426 2,177,642
127,969 108,483 1,442,807 1,259,551
North Texas Elec Co_ December
184,410
182,608
Northwest Elev Co.._ January __ 184,410 182,608
104,504
10 1,806
4,264
4,250
Ocean Electric (L 1)- October_ _ _
227,344
249,746
24,296 20,884
Paducah Tr & Lt Co_ December
273,103
246,664
25,560 20,410
Pensacola Electric Co December
Port(Ore)Ry,L &PCo. December.. 529,969 432,667 5,638,806 4,818,022
157,982 148,994 1,915,289 1,869,096
Puget Sound Elea Co December
294,056
27,223
Richmond Lt & RR_ Dotober___
Rio de Janeiro Tram
Light & Power Co_ December.. 997,007 642,302 10,942,047 7,527,560
St Joseph (Mo) Ry Lt
979,554
Heat & Power Co_ December.. 96,048 92,087 1,038,056
Sao Paulo Tr Lt & P. December.. 285,008 225,636 2,950,594 2,428,117
50,288
53,514
632,356
6C 3,813
Savannah Electric Co December
493,843 481,893 5,588,189 5,81 4,175
Seattle Electric Co_ _ _ December
78,565 76,723
711,299
71 7,893
Second Avenue (Rec) October __
8,253
93,692
7 6,176
10,015
Southern Boulevard_ October__ _
179,348
IC 1,809
Sou Wisconsin Sty Co December.. 15,453 14.226
228,919
19,569
October __ _
Staten Isl Midland
592,964
50 6,303
47,254 56,389
Tampa Electric Co_ _ December
Third Avenue (Bee)_ October___ 291,330 266,272 2,964,092 2,53 5,252
Toledo Rys & Lt Co_ November_ 261,010 246,185 2,695,194 2,41 6,996
4,377,116 3,91 6,828
December.
Toronto By Co
749,084
71 1,698
Twin City Rap Tran_ 1st wk Feb 139.872 134.051
Underground El By
of London£86,165
D 1,040
Wk Feb 11 £14,230 £13,265
Three tube lines
£71,026
£1 4,450
Metropolitan Dist_ Wk Feb 11 £12,117 £10,675
£30,794
£2 1,069
United Tramways_ Wk Feb 11 £5,032 £5,231
Union (Rec)
October__ 190,313 169,772 1,882,162 1,70 4,721
UnlonRy.G&ECo(III) November_ 265,668 251,351 2,687,557 2,53 4,338
682,356 645,847 7,653,489 7,41 5,965
United RRs of San Fr December
448,414
31 4,772
Westches Eieo (Rec)_ October__
45,557 41,161
411,160
4( 6,867
Whatcom Co By & Lt December
39,084 39,149
Yonkers RR (Bee) October__ _
57,684
Youngst & Ohio Riv_ December
17,340 14,891
309,966 - 21 1,646
c These figures are for consolidated company.
Electric Railway Net Earnings.-The following table gives
the returns of ELECTRIC railway gross and net earnings
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 issue of Jan. 28 1911. The
next will appear in the issue of Feb. 24 1911.
-Gross Earnings- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
3
3
3
3
7,655
20,161
Carolina Pow & Lt Co__ _Jan
10,150
23,850
268,223
United
696,164
Detroit
Ry_b___Dec 767,803
273,525
Jan 1 to Dec 31
9,345,219 8,047.555. 3,364,154 3,004,831
21,847
50,528
Ft Smith Light & Trac_ _Jan
15,200
Jan
30,878
Mobile Electric Co
19,251
Jan
32,759
Muskogee Gas & Eiec
Roads.
FEB. 18 1911. t
THE CHRONICLE
455
-Gross Earnings- -Net Earnings
BALANCE SHEET JUNE 30.
Previous
Current
Current
Previous
[Owing to change in form of balance sheet, comparisons with many items
Year.
Year.
Year.
Year.
In 1909 are inaccurate.]
$
$
$
b
1910.
1909.
1910.
1909.
Oklahoma Gas & Elec_ _ _Jan
123,292
50,840
AssetsLiabi/Wes$
$
Jan
Ottumwa
27,332
13,248
Road & equip___a20,084,732 19,40,088 Stock, common_ __ 6,500,000 6,500,000
Secur.of affli.,&c.,
67,871
Stock, preferred__ 3.708,000 3,708,000
San Diego Cons Gas & ELJan
37,089
cos., unpledegd_ 2,531,2601
Bonds(see "Ry.&
Secs, held in tress_ 725,500 }. 3,466,410
Ind." section)._ 8,500,000 8,500,000
a Net earnings here given are after deducting taxes.
Marketable bonds_ 250,0001
Car trusts
1,724,000
708,094
b Net earnings here given are before deducting taxes.
Materials & suppl_ 337,312
384,820 Mat'd int.,&c.,unpd. 89,460
93,905
Cash
723.827
240,166 Traffic, &c., bats..
Interest Charges and Surplus.
85,0631
Bills receivable__ _ 378,955
618,955 Vouchers Sc wages 513,012} 452,900
-Int., Rentals, &c.- -Bal. of Net E'ngs.- Agents & conduc's
64,246
18,473 Miscel. accounts__
41,4431
Current
Previous
Current
Previous
Traffic, &c., bats_ 124,7911
Zanesv. & W. deli. 258,841
Year.
Roads.
Year.
Year.
Year.
Misc. accounts
341,404f 544,881 Bills rec. discount,
140,000
$
$
$
$
8,250
Unmatured int__
6,472 Bilis payable
10,000
Dec 166,760
Accr'd int., divs.,
Detroit United Ry
156,730 z118,935 z124,193 Undelivered equip. 718,802
39,037
3,316
2,030,622 1,880,129 z1,488,300 z1,269,536 0th. def. deb.items
&c
Jan 1 to Dec 31
295,408
530,068
Accrued taxes..
77,069
70,746
Reserve accounts_
x After allowing for other income received.
626,681
Deferred cred.items 41,321
Approp'd surplus_ b806,998
Profit and loss... c3.452,840 3,665,828
Roads.
ANNUAL REPORTS.
Total
Annual Reports.-An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each. month. This index will
not include reports in the issue of the "Chronicle" in which
it is published. The latest index will be found in the issue
of Feb. 4. The next will appear in that of Feb. 25.
Toledo & Ohio Central Railway Co.
(Report for Fiscal Year ending June 30 1910.)
President William C. Brown says in brief:
26,328,116 24,771,562
Total
26.328.118 24,771.582
a After deducting reserve for accrued depreciation, $533,380.
b Appropriated surplus represents additions to property since June 30
1907 through income.
c After deducting adjustments aggregating $451,999, viz. For additions
to property July 1 1907 to July 1 1909, $113,279; to adjust equipment account by charging to accumulated surplus the equity as of June 30 1910,
$285,555; discount on equipment trust certificates, $52,500; miscall. adjustments, $864.-V. 90, p. 850.
Detroit United Railway.
(Report for Fiscal Year ending Dec. 311910.)
Pres. J. C. Hutchins, Detroit, Feb. 7, wrote in substance:
Capitalization.-There was no change in capital stock or bonded debt
Property.-There has been added to the system 12.107 miles of track
during the year.
General Results.-The operating revenues were $4,476,950, an increase of (Det.'Un. By. 9.849 miles) and on Jan. 1 1911 the system embraced in all
$336,280. Freight revenue Increased $230,121 or 6.88%, largely due to 758.638 miles of track (incl, side and yard track), as follows: Det. Un.
increase in bituminous coal tonnage carried. There was a decrease in coke By., 412.726; Rapid By.sytsem, 128.339; Det. Mon. & Tol. Short Line Ry.,
tonnage of 184,200 tons, while tonnage of ore increased 211,947 tons. 75.893; Det. Jack. & Ch. By., 105.820; Sand. Wind. & Am. Ry., 36.060.
While there was an increase of 6.88% In freight revenue, the increase in
The companies' rolling stock consists of 1,079 closed passenger cars, 304
freight train mileage was only about 1%, the tons per train mile having open pass. cars, 229 freight and construction cars, 34 line cars, 51 express
Increased from 483 tons to 531, an increase of 48 tons, or 10%. The per- cars, 11 miscellaneous cars, 2 locomotives, 3,028 motors and 2,339 trucks.
centage of operating expenses to gross revenue was 65.43%, a decrease of There are 11 power houses, combined capacity 45,000 h.p.; 2 storage bat2.14% as compared with the previous year.
teries, combined capacity 4,500 amperes, and 22 sub-stations, combined
Dividend Increased.-A dividend of 5% on both the preferred and com- capacity 18,850 k.w.
mon stock was declared, payable Dec. 20 1910 out of the net corporate income for the year ended June 30 1910. [For the two fiscal years next preTRAFFIC STATISTICS FOR CALENDAR YEAR 1910,
ceding the common stock received only 2% in all, namely, 1% in Feb. 1909
Passengers- D. U.Ry. R.R. Sys. S. W.&A. D.M. &T. D.J.&C.
and 1% in Aug. 1909.-Ed.1
Revenue
152,364,098 5,505,800 3,261,684 1,883,169 2,906,022
Accumulated Surplus.-The increased equity in the equipment account,
17
30,420
47,458,507
429.383
319,393
arrived at by comparing the value of the equipment upon June 30 1907 Transfer
44,834
111,732
Employee
5,898,796
303,907
20,260
with the value of the equipment upon June 30 1910, is $285,555, and this
amount has been, charged against accumulated surplus. After thiseharge,
Total
205,721,401 6,129,100 3,711,316 1,928,020 3,048,174
has been made, all of the additions and betterments for the period June 30
Receipts1907 to June 30 1910 and the increased equity in equipment have been Rev.
passenger_
.0469
.1518
.2057
.1117
.0547
taken care of through appropriated surplus.
All
.0347
.1003
.1447
.0481
.2009
The free surplus is now $3,452,840, while the appropriated surplus July 1 Carpassengers
mileage_
_
_
_
29,663,644
2,535,847
1,173,289
1,941,678
856,186
1907 to June 30 1910 is $806,998. This latter consists of $521,443 reprePer Car Milesenting additions and betterments and $285,555 representing increased Earnings
.2506
.2893
.2165
.2834
.3788
equity in equipment as stated above.
Expenses
.1595
.1953
.1115
.2192
.2068
Additions and Improvements Deducted from Income.-These expenditures Net earnings..
.0911
.0940
.1050
.1596
.0766
during the year aggregated $238,500, including $122,849 for grade separaImprovements.-There has been expended on capital account and charged
tion at Columbus.
out under "additions and betterments," as prescribed by the State and
Equipment.-The net increase in equipment account during the year was Inter-State Commerce Commissions: On Detroit United By., net, $1,437,$570,793, as follows: (a) Acquired under equipment trust: 500 thirty-ton 862; viz., road, miscell. items, $934,945; equipment, $623,262, and gensteel under-frame box cars, $455,110; and 290 fifty-ton steel under-frame eral, $355; total, $1,558,562, less credit from sale of old Woodward car-house
gondola dump cars (out of 1,000 to be delivered), $300,109; and (b) other property, &c., $120,700); Rapid By. system, road, $97,755; Det. Mon. &
equipment, $27,718; total. $782,937; less book value of destroyed equip- Tol. Short Line By., $36,031; Det. Jack. & Chic. Ry., $28,542, and Sandment and depreciation accrued during year, $212,144; net inerease,$570,793. wich Windsor & Amherstburg By., $55,113.
The 1,000 50-ton capacity gondola dump cars and 500 30-ton capacity
Bonds, &c.-Provision has been made to pay $140,000 Detroit Subbox cars were purchased under a car trust agreement dated Jan. 1 1910 with urban
By. Co. bonds at their maturity Jan. 1 1911. An equal amount of
the Provident Life & Trust Co. of Philadelphia as trustee.
Obligations Detroit United By. 4 M% will be issued in their stead. [The company
to the amount of $1,200,000 were issued, payable in semi-annual install- late In Jan.1911,in order to take care of $1,000,000 5% notes dated Feb. 15
ments of $60,000 each, interest 4%. (V. 90, p. 169.)
1910 and due Feb. 15 1911,and for other corporate purposes,sold to Wm.A
Physical Requirements.-While the physical condition of the property Read & Co., N. Y., $1,500,000 5% gold notes dated Feb. 15 1911 and due
has been well maintained, large expenditures will have to be made to pro- Jan. 1 1912. These new notes are secured by pledge of $1,880,000 1st
vide for increasing traffic and the use of heavier equipment. The eleva- consol. 4s of 1932 of Det. Un. By.; $100,000 consol. 5s of Det. Jack. &
tion of tracks and elimination of grade crossings in the City of Columbus, Ch. By.; $125,000 1st M. 5s due Jan. 1 1950 and $900,000 stock of Detroit
upon which considerable work has been done, will make it necessary to & Port Huron Shore Line By.; $100,000 1st M. 5s due 1920 of Det. & Lake
construct new freight terminals, the land for which has been acquired. St. Clair By. and agreements of certain persons to purchase $1,500,000 1st
Contract has also been let for an enlarged and modern freight station.
consol. 4 As of Det. 17n. By. at 82 i,i and int. Compare V.92,p.261.-Ed.]
Depreciation, Surplus,'&c.-The company has as in previous years made
Terminals.-An agreement has been executed with the Lake Shore &
liberal
expenditures for maintenance of tracks, rolling stock, &c. Larger
Mich. So. By. Co. by which your company enjoys the joint use of the
new freight terminal at Toledo. Ohio. With the completion of the new expenditures than usual were incurred for renewals of tracks and foundafreight terminals at Columbus, Ohio, the company will be advantageously tions, representing heavier construction to meet increased traffic conditions.
One hundred additional motor equipments were purchased, costing $58,987,
located in these two important cities.
which amount has been charged against depreciation reserve. There was
CLASSIFIED TONNAGE, AGGREGATING 8,253,607 TONS IN 1909-10, added to the credit of the depreciation reserve $400,000, leaving said fund
with a present credit balance of $1,379,627. At the beginning of the year
AGAINST 5,722,591 IN 1908-09 AND 5,669,112 IN 1907-08.
the company's surplus stood credited with $3,249,539. There has been
Products of
Menu- Bitum.
AntOres,
AgriMerch. credited to contingent liability reserve $100,000 out of earnings of 1910,
Coal. Coke, &c. &Misc. making $400,000 in said reserve. This leaves a present surp. of $4,230,107.
culture. mats. Forests. fact's.
Resumption of Dividends.-See declaration of quer. 1(% payable
1909-10 ____284,680 48,636 215,445 504,828 4,511,580 558,431 130,027
1908-09 ____262,071 45,053 198,084 368,645 4,149,023 581,005 123,730 March 16 1911, V. 92, p. 394.-Ed.
1907-08 ____257,111 40,994 252,593 381,641 4,086,169 507,884 142,720
COMBINED RESULTS FOR CALENDAR YEARS.
(Detroit United fly. Rapid Ry. System, Sandwich Windsor & Amherstburg
TRAFFIC STATISTICS.
By., Detroit Monroe & Toledo Short Line and Detroit Jackson &
1909-10.
1908-09.
1907-08,
Chicago Ry., the last-named from Feb. 1 1907.)
444.22
444.22
Miles operated
440.90
1910.
1909.
1908.
1907.
OperationsNo.165,920,753 142,981,316 126,668,968 126,601,946
Revenue
passengers,
1,139,776
1,180,665
1,081,712
Number of passengers carried
Number of passengers carried 1 mile_ 37,573,371 37,725,229 36,538,533 rransfer passengers, No. 48,237,720 41,629,844 36,622,490 36,704,431
5,770,881
5,472,416
5,274,390
1.600 cts.
Rate per passenger per mile
1.600 cts.
1.687 cts. Employee pass., No __ _ 6,379,538
5.28 cts.
5.25 cts.
5.25 cts.
5.29 cts.
6,253,607
5,722,501
Tons moved
5,669,112 Receipts per rev. pass..
36,170,644 32,699,206 30,111,196 30,209,488
822,830,303 740,868,035 746,850,168 Car mileage
Tons moved one mile
cts.
23.41
23.62
24.81
cts.
cts.
Gross
earns,
per
car
mile
25.84
cts.
0.434 cts.
0.451 cts.
Rate per ton per mile
0.462 cts.
8.48 cts.
8.63 cts.
9.19 ots.
9.30 cts.
531
Average train-load (tons)
483
478 Net earns, per car mile_
$7,114,760
$8,047,555
$0.80
$9,345,219
$7,073,246
Earnings per passenger train mile_ __ $0.77
Gross
earnings
$0.76
$2 31
x5,981.065 x5,042,724 z4,559,123 x4,465,044
Earnings per freight train mile
$2.18
$2.21 Operating expenses_
INCOME ACCOUNT.
1909-10. 1908-09.
1909-10.
EarningsIS
$
Passenger
812,886 604,075 Operating income. _ _1,369,951
"Freight
3,574,489 3,344,368 Rents received
15,083
Mall, expr. & mIscel. 155,715 129,151 Interest, divs., &c_ .. 46,980
33,958
Other than from
Hire of equip., &e
transportation ___ 133,861
63,077
Total
1,465,973
DeductTotal °per. rev__ _4,478,951 4,140,871
ExpensesInt. on bonds, &c
404,000
45,383
Way and structures_ 612,901 584,424 Int. on car trusts_
40,918
Mallet. of equipment 744,438 692,638 Rents paid
72,488
64,178 Def. sub. cos., &c..
Traffic
20,776
Transportation ___A,418,634 1,391,266 Additions & impts__ 238,500
80,892
65,384 Div. on pref.stk.(5%) 185,070
General
Div.on corn. stk.(5%) 292,315
Operating expen_ _2,929,353 2,797.890
Total
1,228,982
P. e. op. exp.to earn. (85.43) (67.57)
1,547,598 1,342,781
Net earnings
177,847 184.360
Taxes
Operating Income_1.389,951 1,178,420 Balance, surplus_ ___ 239,011
1908-09.
1,178,420
16,817
58,786
1,252,023
404,000
33,053
71,187
4,601
101,444
185,070
(1)58,463
857,799
394,223
Net earnings
Other income
$3,364,154
152,768
$3,004,831
144,833
12,555,637
84,957
$2,608,202
60,505
Total net income_ _ _ _ $3,516,922 $3,149,664 $2,620,594 $2,668,707
DeductionsInterest on bonds, &c .x$2,030,622 41,880,129 41,618,666 41,554,249
______y(2 X)343,750
Dividends (%)
(z)
400,000
300,000
Depreciation charged off
400,000
276,000
100,000
Contingent liability res.
100,000
50,000
Total deductions
Surplus income
$2,530,622
z986,300
$2,380,129
$769,535
$1,968,666
$651,928
$2,173,999
$494,708
z Operating expenses In 1910 and 1909 do not include taxes as in earlier
years, taxes in 1910 and 1909 being included in charges In the item of "interest on funded and floating debt and taxes."
V During 1907 3 q% dividends were paid (V.85, p. 1005), but 1% of same
($125,000) Is included in the dividends charged against the 1906 earnings.
z A quarterly dividend of 1 %, calling for $156,250, has been declared
payable March 6. (Compare V. 92, p. 394.)
...
•
Lxxxxii.
THE CHRONICLE
456
BALANCE SHEETS DECEMBER 31.
-Detroit United Re.- RR.Sys. S.117.&A. D.M AT. D.J.& C.
1910.
1909.
1910.
1910.
1910.
1910.
$
Assets$
$
$
$
$
Investment
37,177,556 35,739,094 5,302,782 1,000.057 5,288,945 4,152,296
Sink. fd. investm't
67,771
487,196
450,235
Stores
1,892
1,204
1,120
1,062
Prepaid accts.,&c.
42,000
39,764
8,935
Treasury bonds__ ..a2,717,000 2,305,000
Stocks owned_
b2,983,133 2,978,233
d10,000
Other accounts__ _ c814,834
630,314
9,554
Accts. receiv., &c_ 440,221
438.398
905
Cash
73,277
285,970
209
Accident fund_ _ _.
15,000
15,000
47,976
• The most gratifying feature is the continued development of travel in
the reverse direction to the normal current during the rush hours, occasioned
by the building up of many industrial plants on the western outskirts of the
city. On account of this distribution of traffic, the greatly increased number of passengers was accommodated without an increase in the number of
cars or additional capacity in power plant.
Cars.-Eighteen passenger coaches were converted to control cars.
There are now 225 motor oars, 161 coaches, 101 control coaches, 17 misc.
Construction.-Total mileage was increased one mile of main line single.
and one-half mile of sidetrack, due to the construction (completed Aug. 20)
of three tracks on the Douglas Park line from 48th Av. to 52d Av., furnishing storage room for 60 cars and providing through service to the industries
and residents in this locality. The Belt fly. was obliged to elevate its
tracks; this compelled your company to raise its tracks and structure about
13 ft., where these cross the Belt Hy. on the Garfield Park branch. A new
Total assets---44,708,218 42,884,844 5,344,438 1,021,929 5,299,000 4,269,105 coil and material yard was constructed at 46th Ave., with connections to the
Belt Ry.; this allows the storage of 10,000 tons of power-house coal and proLiabilitiesCapital stock
12,500,000 12,500,000 2,000,000 297,000 2,581,000
25,000 vides for the economical handling of same, and for storage of rail, &c.
Maintenance.-13,471 ties were renewed, equivalent to 4;,6 miles of
Mortgage bonds..23,333,000 22,853,000 2,890,000 490,000 2,581,000 3,995,000
single track, complete, with wooden guard rails; 240 tons of new 60-foot,
3-year 5% notes_
2,050,000
Depreciation fund. 1,379,627 1,038,615
80-1b. steel rail were laid in tangent track, equivalent to 2 miles of single
Current liabilities_ 2,680,996
728,156
20,775
11,123
87,776 track; 19,040 ft. of steel structure were repainted. The wooden structure
at Logan Sq. yard has been partially rebuilt, with concrete foundations; 374
Miscellaneous ____
109,604
90,488
3,075
Insur.. &c., fund..
74,884
80,046
24,673
2,132
772 axles of heat-treated steel and 300 rolled steel wheels were placed in service.
24,447
Power.-Two 500,000 c.m, aerial cables were installed, connecting the
Sink, fund reserve
67,771
46th Ave. sub-station with the Douglas Park line.
Conting. Habil. res. 400,000
300,000
Dividends.-On the pref. stock 3% was ipaid during the year.
Due Det. Un. Ry..
408,990 200,504 112,553
92,786
Collateral Loan -This loan was reduced from $300,000 to $200,000.
Surplus
4,230.107 3,244,539
18,097
FISCAL RESULTS FOR YEARS ENDING DEC. 31.
Total liabilities_44,708,218 42,884,844 5,344,438 1,021,929 5,299,000 4,269,105
Operations1910.
1007.
1009.
1008.
Note.-The balance sheet of the Windsor & Tecumseh Electric Ry., all of whose
No. pass. carried 57,229,886 52,519,609 51,587,667 54,280,688
stock is owned by the Sandwich Windsor & Amherstburg Ry., shows: Assets- Wholeaverage
156,794
148,715
140,950
143,889
Investments, $298,554: and liabilities-stock, $100,000; bonds, $189,000; due Daily
Earnings
S. W. & A. Ry., $9,554.
earnings
2,936,099
2,778,507
2,695,230
2,643,635
a Includes treasury bonds: Detroit United Ry., $1,880,000; Detroit & Port Passenger
132,946
99,992
123,200
103,205
Huron Shore Line Ry., $125,000; Detroit & Lake St. Clair Ry., $100,000; Detroit Advertising & miscel
Jackson & Chic. Ry., $515,000: Detroit Monroe & Tot. Short Line Ry., $97,000.
earnings
Gross
3,069,945
2,818,430
2,878,589
2,746,840
b Includes stocks owned: Detroit & Port Huron Shore Line Ry., $1,540,278:
Operating ExpensesSandwich Windsor & Amherstburg Ry., $253,135: Detroit Monroe & Toledo Short Maint. of way & struct_
141,830
134,350
116,211
155,625
Line Ry., $1,027,172; Detroit Jackson & Chicago RV., $25.000; Monroe Piers & Maint. of equipment...
173,927
165,172
134,159
162,389
Park Resort, $24,409; Newport Stone Co.. $5,000; Electric Depot Co., $77,681, MaInt.of oper.pow.plant
376,483
312,706
305,519
320,637
River Rouge Ry., $25.000; Anchor Bay Salt Co., 85,000; and treasury stock, $459. Conducting transport'n_
660,313
605,095
573,018
585,519
c Includes Rapid Ry. System, $408,991; Detroit Monroe & Toledo Short Line, General
96,323
103,348
101,301
88,740
8112,553; Detroit Jackson & Chicago Ry., $92,787; Sandwich Windsor & Amherst- Loop oper. and maint_
107,138
97,404
107,627
104,565
burg fly., $200,503.
d Consists of W. & T. E. Ry. stock, 810.000.-V. 92, p. 394, 322.
Total operating exp._ 1,556,015
1,418,076
1,443,499
1,410,801
Net earnings
1,513,930
1,400,354
1,435,090
1,336,039
Add int. on bal., &c_
8,770
11,159
6,819
10,126
Capital Traction Co., Washington, D. C. ,
(Report for Fiscal Year ending Dec. 311910.)
Pres. George E. Hamilton, Jan. 111911, wrote in substance:
Earnings.-Car earnings show an Increase over 1909 of $187,097. Operating expenses, taxes and interest increased $208,671, due to larger tax
assessments, Federal and municipal, and to interest payments on the additional bond issue, referred to in the last report.
Car Barns, &c.-The work of reconstructing the Navy Yard barn, with
capacity doubled, was completed in June 1910. The remodeling of the
office and car barn at 36th and M streets will be completed about March 1'11.
Cars.-Of the new "Pay Within" cars 150 were ordered in June for delivery in 1910, 1911 and 1912; 20 were put In operation in November and
December, with satisfactory results.
Track.-The terminal loop around the Navy Yard barn was completed
and the loop at 26th St. and Pennsylvania Ave. installed.
Power Plant and Sub-Station.-The necessity for increasing the size and
capacity of our power plant having become apparent, a site for a new power
station at 32d and K streets, with river frontage and railroad connections,
was purchased,and construction Is being now pushed as rapidly as possible.
So much of the machinery and equipment in the present plant as may be
available -will be transferred to the new station.
OPERATIONS AND FISCAL RESULTS.
1910.
1907.
1908.
1909.
5,986,125
7,231,557
8,013,374
5,634,095
Car mileage
Revenue passengers. No. 51,307,792 46,900,599 42,680,221 40,987,980
Transfer passengers, No. 16,939,756 16,897,876 15,331,824 15,311,445
$2,226,150 $2,024,489 $1,831,810 $1,764,345
Gross earnings
Operating Expenses$58,641
Maintenance of way, &c. $102,205
$91,789
$48,675
90,203
Maintenance of equipm't
77,246
97,057
97,797
145,011
Operation of power plant
114,655
111,852
118,791
569,336
Car service
496,975
404,025
385,749
195,234
General and nits°
170,856
138,919
163,911
Total oper. expenses_ $1,101,989
$1,124,161
Net earns, from oper
Advertising, rents, &o
14,518
$918,373
$1,106,111
29,294
$793,141
$1,038,669
24,164
$814,923
$949,922
22,163
Total net income ____ $1,138,679
DeductTaxes
$118,081
Interest
-200,000
Renewals
Dividends (6%)
720,000
$1,135,405
$1,062,833
$971,585
$100,337
151,937
90,752
720,000
$94,830
126,000
70,117
720,000
588,558
91,500
720,000
Total
Balance
$1,013,026
$122,379
$1,010,947
551,886
$900,058
$71,527
$1,038,081
$100,598
~MO
BALANCE SHEET DEC. 31.
1910.
1909.
1910.
1909.
Liabilities$
Assets$
Capital stock
12,000,000 12,000,000
Cost of road, equip.
4,000,000 4,000,000
and real estate_16,419,375 15,956,258 Bonds
Bills payable
275,000
Accr. taxes, insur.,
75,974
int., &c., reserve 276,313
265,048 Tickets
70,604
Insurance reserve_
146,000
137.000 Accrued taxes, inCash
surance, InSer101,923
23,294
84,092
Bills receivable_
93,855
est, &e
60.000
55,000
Tickets of oth. cos.
32,140 Dividends due and
33.711
181,030
Material & supplies
182,128
accrued
50,653
59.350
137,000
Accts. receivable_
146,463
1,872 •
Fire ins. reserve
138,992
232,799
Profit and loss_ __ _
17,000,219 16,611,719
Total
-V. 92, p. 394.
Total
17,006,219 16,611,719
Metropolitan West Side Elevated Railway, Chicago.
(Report for Fiscal Year ending Dec. 31 1910.)
President Britton I. Budd, Feb. 6 1911, said in substance:
General Results.-The gross earnings for the year were $3,069,995, an increase of $251,514; the net earnings $1,513,930, an increase of $113,575,
and surplus applicable to dividends 5442,731, an increase of 593,813.
The increase of $137,939 in operating expenses was principally due to
the greater number of passengers, to an Increase in wage scale as per new
agreement, to increased price paid for power-house fuel from April 1 to
Sept. 1, during which time all mines in Illinois were shut down on account
of the coal miners' strike.
PASSENGERS CARRIED IN 1910,
Total No. DailyAv. Inc.%
Total No. DailyAv. Inc.%
9,935,953 159,225 17.29 Aug ____4,757,438 153,465 11.39
Jan
4,589,256 163,902 16.31 Sept ____4,564,056 152,136
Feb
5.49
4,865,178 157,941
March _5,103,203 164,619 15.68 Oct
5.67
4,544,203 151,474
April _4,778,520 159,284 12.00 Nov
1.71
9.88 Dec
9,820,404 155,497dec1 .78
May ____4,911,200 158,426
_4,719,520 157,318
6.29
June
July ..._4,840,955 149,798 10.50 Total_ _57,229,886 156,794
8.97
The considerable failing off in traffic In November and December is accounted for principally by the widespread strike in the clothing industry,
the largest manufacturers being located adjacent to our lines. Notwithstanding this condition, the total traffic exceeded that of any previous year.
Total available Inc.__ 1,522,700
DeductRentals
323,186
Taxes, car licenses, &c.._
180,252
Interest
576,531
Preferred dividends...(3%)261,237
1,411,514
Total
Surplus
1,062,596
348,918
1,341,206
181,499
299,674
180,893
582,029
1,346,165
1,084,750
261,415
BALANCE SHEET DECEMBER 31.
1909.
1910.
1910.
AssetsLiabilitiesCost of road,equipPreferred stock __ 9,000,000
meat, &c
32,383.983 32,331,208 Common stock __ _ 7,500,000
292.100 1st M. bonds(4%).10,000.000
Pref. stock in treas 292,100
35,900
35,900 Ext. M. bds(4%). 5,000,000
Corn. stock in tress
Ext.M.bds.in tress 967,000
967,000 Coll, trust notes__ 200,000
41,400
Un. Cons. El. bds_
41,400 Pay-rolls,accts.,&c 123,910
Cash
137,456
249,283 Coups.not pres.,&c
4,960
Materials & supp_
109,807
75,220 Interest due Jan. 1
80,660
Accts. receivable_ - 128,680
96,921 Div. checks out...
__
1,562
Prepaid insurance_
29,835
11,825 Int. accr'd, not due 169,150
Advances, Union
Rents ace., not due
8,750
Consol. El. RR_
27,460
27,385 Taxes ace., not due 101,873
Unadjusted accts.
20,107
20,075 Deprec'n reserve__ 270,745
Balance, surplus...4.1,712,118
Total
34,173,728 34,148,319
Total
1,941,909
299,043
294,995
176,390
197,736
574,691
592,019
(23)195,928
1,296,052
195,857
1909.
9,000,000
7,500,000
10,000,000
5,000,00(1
300,000
134,989
6,880
80.660
170,478
8,750
101,873
264,065
*1,580,624
34,173,728 34,148,319
* After charging off 850,000 for depreciation and losses.-V.92. p. 396.
Virginia Railway & Power Co.
(Report for Fiscal Year ending June 30 1910.)
Pres. William Northrop, Richmond, Va., Nov. 2 1910,
says in brief:
Mileage.-The total number of miles of single track operated June 30
1910 was 108.39; in addition there were 10.44 miles of sidings, &e., making
the total mileage 118.83.
Capitalization.-There has been no increase In stook or bonds.
Of the authorized issue of $15,000,000 "first and refunding" 5s, there
have been issued $7,542.000 (incl. $139,374 in the treasury); reserved to
exchange for underlying bonds, as noted below, $2,158,000; reserved for
improvements, extensions, ho., $5,300,000.
The $2,158,000 underlying bonds for which Va. Ry. & Power Co. bonds
are reserved for exchange include: Rich. Ry. & Elec. Co. 5s, $123,000;
Westhampton Park Ry. 5s ($150,000 less $4,000 held by sink. f(l. as of
May 1 1908), $146,000; Richmond Traction Co. 5s ($500,000, less $81,000
held by sink. fd. and 1st M. prin. fd. as of May 11908), $419,000; Va. Elec.
Ry. & Development Co. 55 ($1,500,000, less $66,000 held by sink. fd. as of
May 1 1908), 51,434,000; Rich. & All. RR. 55, $36,000.
Capital Expenditure.-During the fiscal year the expenditure of approximately $850,000 was authorized for the following construction, betterments and acquisition of real estate necessary In the development of the
company's business, of which amount $266,908 was actually expended,
chargeable to capital account: Richmond terminal, South Richmond
terminal, 29th and P streets terminal, 20 semi-convertible pay-as-you
enter type cars and other equipment, one 5,000-k.w. turbo-alternator
set, two 600-h.p. boilers, sub-station and passenger terminal at Petersburg, sub-station at Centralia, Va., steel poles for the construction of
a high-tension transmission line connecting power stations at Richmond
and Petersburg. together with 15 miles of right of way for said line, and
West End sub-station at Richmond; also four pieces of real estate.
It Is believed that when the foregoing improvements are made, very substantial economies In operation will be effected.
During the year the company sold three parcels of real estate (one of
these being the Westhampton Park property) which were not necessary in
the operation of the property. The proceeds derived therefrom have been
deposited with the trustees under the respective mortgages.
Dividend.-The financial situation justified, in the opinion of the directors, a distribution to the holders of the pref. stock, and accordingly a
dividend of 1 M% on the outstanding pref. stock was declared in June last
and paid July 1 1910.
NUMBER OF PASSENGERS CARRIED AND CAR MILEAGE FOR
YEAR ENDED JUNE 30 1910.
Total.
Rich. Div. Petersb.Div. Interurban.
Fare passengers
29,409,523 2,072,629
810,328 32,298,480
Transfer passengers
12,547,100
12,227,943
319,157
Complimentary & employee_
945,951
9,693
928,879
7,379
Total
92,066,345 2,401,479
823,707 95,291,531
Car mileage
5,822,417
457,212 6,827,238
547,607
INCOME ACCOUNT YEAR ENDING JUNE 30 1910.
$136,969
Gross earnings
$2,058,606 Taxes and licenses
22,750
Operating expenses
1,023,729 Sinking funds
3,000
Int. on car trust certfs
50,000
Net earnings
$1,034,877 Depreciation reserve
Other Income
33,161 Pref. dividend (1}%)---- 66,693
5,657
Miscellaneous
Total gross Income
$1,068,038
$122,350
DeductTotal deduotions
$297,360
Interest on bonds
485,600 Surplus Juno 30 .1910
FEB. 18 1911.1
THE CHRONICLE
GENERAL BALANCE SHEET JUNE 30 1910.
Assets ($22,776.319)$21,289,241
Property, rights, franchises and privileges
Bonds owned-35,000 Richmond Traction Co. 55; $5,000 Rich22,724
mond Ry. & Elec. Co. 5s; $12,000 Va. Elec. Ry. & Dev. Co. 55
Cash, $737,548; accts. reedy., $96,492; mat'is & supp., $207,140 1,041,180
5,597
Int. earned, $2,619; prepaid and reserve accounts, $2,978
417,577
Work in progress, $113,976; trustees' accounts, $303,601
Liabilities ($22,776,319)Capital stock, corn.(auth. $7,500,000), outstanding, $7,450,500;
$11,896,987
pref. (auth.) $5,000,000, outstanding, $4,446,487; total
Bonds: Va. Ry. & Power Co., $7,402,626; Rich. Ry. & Elec. Co.,
$123,000; Va. Eleo. Ry. & Devel. Co., $1,399,000; Rich. &
Allegheny RR. Co., $36,000; Westhampton Park. Co.,
Ry--9,406,626
$113,000; Richmond Traction Co., $333,000; total-620,253
Matured int. on bds., $348,750., pay-rolls & accts. pay.,-$271,503
189,178
Sale of property, $180,195; miscellaneous, $8,983
Accrued bond int., taxes, rentals, &c., $48,553; sinking funi
309,221
installments paid, $250,668; car trust certificates, $10,000_ _
56,684
Reserve for deprec'n, $50,000, and for injuries & damages,$6,684
297,369
Surplus
-V. 91. p. 1328.
Lake Shore Electric Railway, Cleveland, 0.
(Report for Fiscal Year ending Dec. 31 1910.)
President E. W. Moore says in substance:
General Results.-The gross income of the system (comprising the Lake
Shore Elea. Ry. Co. the Lorain St. RR. Co. and the Sandusky Fremont &
shows an increase of $97,028, the net earnings show an
Southern Ry. Co.) '
Increase of $50,679 and the surplus after charges an increase of $48,579.
• Track and Roadway.-On the Lake Shore Electric By. approximately
-9 miles of track was lifted and re-ballasted with crushed stone. In the city
of Sandusky new track was laid for approximately 2,000 ft, with 85-lb.
T rail, steel ties with concrete foundation; also 1,000 ft. of new track, 70-lb
T rail with crushed stone foundation.
New Cars.-Twenty 60,000-lb. capacity 34-ft. flat cars were purchased
for use in the crushed-stone trade.
Franchises.-The company was granted 25-year franchises over the new
concrete bridge recently built across Rocky River and over the new bridge
In course of construction across the river at Huron, Ohio. We should be
able to use both of these bridges in the early summer.
Pref. Stock.-During the year the plan adopted at the last annual meeting
for converting the $3,000,000 of pref. stock and accumulations into $1,000,000 1st pref. cumulative 6% stock and $2,000,000 2d pref. non-cumulative
5% stock was carried into effect and the new securities issued therefor.
The first pref. stock was cumulative from July 1 last with dividends payable quarterly, which dividends have been paid.
RESULTS FOR YEAR ENDING DEC. 31 (Incl. Sand. Prem. ec. So. Ry.).
1910.
Operations1908.
1909.
1907.
5,429,748
4,951,002
Passengers carried
4,788,418
4,904,505
Earnings per passenger_ 18.52 cts.
18.57 cts.
18.11 cts.
18.61 cts.
3,462,678
Number car miles
3,325,869
3,339,131
3,392,735
27.65 cts.
Gross income per car mile 29.05 cts.
25.97 cts.
26.91 cts.
13.52 cts.
12.70 cts.
Net earns, per car mile
11.27 cts.
11.54 cts.
Earnings$
894,215
Passengers
818,263
792,614
839,237
5,724
Parlor, &c., oar revenue
6,621
3,869
5,002
68,524
Freight, including milk_
60,834
50,472
47,207
Rents, power, &a
37,416
33,895
20,314
21,715
1,005,879
Gross income
Oper. exp, and taxes.._..
536,096
Per cent °per. to income
(53.30)
919,613
497,331
(54.08)
867,269
490,974
(56.61)
913,161
521,559
(57.11)
Net earnings
Other income
469.783
25,000
422,282
25,000
376,295
25,000
391.602
25,000
Total income
Deduct-Interest
494,783
352,550
447,282
350,450
401,295
328,233
416,602
294,073
75.062
122,529
Balance, surplus
142,233
96,832
BALANCE SHEET DEC. 31
1909.
1910.
1909.
Assetss
$
s
Cost of rd.&equIp.13,608,022 13,578,304 Common stock___ 4,500,000 4,500,000
3,200 Preferred stock..__ 3,000,000 3,000,000
Pref. stk. In treas.
3,200
Securities in treas. 499,917
6,235,000 6,245,000
474,917 Bonds
Sink. Id. T.F.& N.
59,115
200,000
125,000
58,875 Bills payable
Due from cos. and
Accounts payable_
133,471
42,089
individuals ____
151,654
145,313 Int accr. not due_
47,102
46,979
Material & supplies
59,259
45,542 Taxes accr. not due
8,106
9,499
Miscel. accounts__
38,246
6,817 Miscel. accounts
2,425
2,273
Prepaid insurance
3,119
3,979 Surplus account
455,606
410,839
Cash
84,548
138,462
1910.
Total
14,507,980 14,455,409
Total
14.507,980 14,455,409
EARNINGS OF LORAIN STREET RR. CO.FOR YEAR END. DEC. 31.
1909.
1910.
1910. 1
1009.
Gross Income
$175,232 $164,471 Net earnings
$78,795
875,618
Operating & taxes
96,437
88,853 Interest paid
64,500
64,500
Net earnings_ __ $78,795
-V. 92, p. 262.
$75,618
Net surplus_ _ _ _
$14,295
$11,118
West Penn Traction Co.
(Earnings, including Subsidiaries,for Year end. Dec. 311910.)
Gross receipts, $2,042,002; 2% dividend on West Penn Railexpensescommonaltantka,xti5,000
ginCgo.
•
$2,107,002
Opw
era
987,642
Net earnings
$1,119,360
Fixed ChargesInt. on $443,500 West Penn Tr. 5% bonds from June 1 to Dec. 31
$9,149
Int. on bonds of West Penn Rys. and its subsids. for year
461,355
Dividends on stock of West Penn Rys.(5% on *2,750,000 pref.
stock, $137,500; 2% on *3,250,000 corn, stock, $65,000)
202,500
Surplus after fixed charges
$446,356
Amount required to pay 6% dividends on *1,625,000 West Penn
Traction Co. 6% cum. pref. stock
97,500
First semi-annual div. of 1% on $6,500,000 West Penn Traction
Co. common stook, paid Dec. 15 1910
65,000
Final surplus------------------------------------------- $283,856
-V.91, p. 1712.
Youngstown & Ohio River (Electric) Railroad.
(Report for Fiscal Year ending Dec. 31 1910.)
President Will Christy, Cleveland, Jan. 30 1911, wrote:
The company operates its passenger service electrically and all of its
freight operations by steam locomotives. The company has purchased
during the year just ended, and has received since Jan. 1 1911, a new 100ton Baldwin locomotive, the purchase price of which was $14,700. During
the year contracts have been made by the company for the furnishing of
all the electric current required for lighting and power purposes in the
municipalities of Lisbon and Lectonia. Additions and betterments during
the year aggregated $4,488.
RESULTS FOR CALENDAR YEARS 1009 AND 1910.
1909.
1910.
1909.
1910.
Gross earnings-- _$168,689 $208,706 Int. on bonds_
37,500
Operating exp___ $84,072 $113,946 Prof. (Ms
15,000
Taxes and rentals 11,016
12,468
Surplus
*71,601 $29,792
Net earnings__ $71,601 $82,292 Ratio op.ex.toearn.
54.1
Analysis of earnings in 1910: Passenger, $150,731; freight, $45,330;
power, $11,143; miscellaneous, $1.502; total, $208,706. Miles of main.
track, $6; gross per track mile, *5,800; net, $2,632. Car mileage: Pas-
457
senger, 494,556:. freight, 138,789. Gross income per car mile: Passenger.
$0.3191; freight, $0.3665. Passengers carried, 711,439; aver, fare per
pass., $0.222. Number of stockholders: Pref., 113; common, 122.
•
BALANCE SHEET DEC. 31 1910.
Assets ($3,253,396).
Liabilities ($3,253,396).
Road and equipment
$3,200,000 Preferred stock
$1,000,000
New constr'n & betterm'ts
4,488 Common stock
1,000,000
Cash
40,462 Bonds issued
1,000,000
Accounts receivable
7,832 Bonds to be issued
200,000
Material and supplies_
233 Accounts payable
9,654
Prepaid accounts
380 Bond int. accrued
12,500
Taxes & rentals accrued
8,609
Accident reserve
7,303
Surplus
15,330
-V.91, p. 40, 947.
The Mackay Companies, New York.
(Report for Fiscal Year ending Feb. 1 1911.)
Pres. Clarence H. Mackay, Feb. 15 1911, wrote in brief:
Construction.-New transcontinental lines have been completed by con-•
struction from Reno, Nevada, to Salt Lake City, Utah, and by construction from Seattle to Spokane, Wash. The heavy copper wires were transposed when erected, so that they are now used for telegraphing and telephoning simultaneously. All through the United States new pole lines
have been constructed and additional wires strung wherever needed.
A new additional submarine cable has been laid from Waterville, Ireland.
to Weston, England, with underground connection to London. The eastern
ends of two of the Commercial Cable Co.'s cables from America to Europe
have been replaced by new heavy cables, to withstand the action of the fishing trawlers off the Irish Coast, and a long section of the cable from Waterville to Havre, France, has also been renewed. The replaced cable in both
cases has been in use over a quarter of a century.
The repair ship "Mackay-Bennett" during the year picked up 422 miles
of trans-Atlantic cable, which the company discontinued using in 1909.
The Commercial Cable Co. has acquired the leasehold of an entire building at 63 and 64 Gracechurch St., in the heart of the financial district of
London, for a central operating department; it will then have 12 offices in
London, besides direct wires to and offices in all the principal cities of
Great Britain.
Sale of Telephone Stock.-On Feb. 24 1910 the Mackay Companies sold
Its entire holdings of stock in the American Telephone & Telegraph Co.
The money obtained from that sale-about $12,000,000-is earning substantial interest and is preserved intact, available for contingencies. The
combination of the American Telephone & Telegraph Co. with the Western
Union Telegraph Co. has not injured the business of the Postal-TelegraphCable Co.-quite the reverse.
Not to Enter Cable Combine.-On the announcement on Dec. 18 1910 that
the Western Union Telegraph Co., with two Atlantic cables, had acquired
control of the four Atlantic cables owned by the Anglo-American Telegraph
Co.. Mr. Clarence H. Mackay satd: "We shall not enter into any combination. Neither shall we sell out."
Cable Rates.-On Nov. 10 1910 the Commercial Cable Co. announced that
It was prepared to reduce the rate for plain language cablegrams from America to Europe by charging only 12 34 cents for every five letters in the cablegram itself, the reduced rate to go into effect upon its being approved and
a proportional reduction made by the European governments.
Night Letters.-On the land line system, the night letter has been In use
for some 11 months. Much of the day business has passed into night letters-notably over one-half of that to and from the entire Pacific Coast.
The advantage to the telegraph companies is doubtful, to say the least.
The gross earnings of your land-line system have increased substantially
during the past year, but increased wages have absorbed a great part of
increased earnings.
Free Passes.-In February 1907 the Postal Telegraph Co. abolished free
passes, although its competitor continued to issue them.
Status.-No bonds, notes or stock have been issued and no debts Incurred
during the year, and yet there has been substantial growth of your ocean
and land-line systems. During the present year further important extensions and improvements will be made on land and sea.
The income of the subordinate companies is greater than is required to
pay the dividends of the Mackay Companies, but its policy is to obtain from
its subordinate companies only enough money to meet those dividends.
The employees of the Commercial Cable and Postal Telegraph systems continue to invest their savings very largely in the shares of the Mackay Companies, their holdings being over $2,000,000 par value.
PROFIT AND LOSS ACCOUNT FOR YEARS ENDING FEB. 1.
1910-11.
1909-10.
1908-09.
1907-08.
Income from investm'ts
in other companies_ _ _ $4,125,907 $3,808,779 $3',685,761 $3,830,390
Div. on pref. stock_ _ _ (4)2,000,000 (4)2,000,000 (4)2,000,000 (3)2,000.000
Div.on corn.stock__ (5)2,069,020(4;1)1758667 (4)1,655,216 (4)1,655,216
Oper. exp., incl. transfer
agents', registrars' and
trustees' fees, office
rent, salaries, &e.___
37,194
32,335
25,027
22,251
Bal. carried forward__
$19,693
$17,777
$5,518
$152,923
BALANCE SHEET FEBRUARY 1.
1911.
1910.
1911.
1910.
Assets8
$
Liabilities$
$
Investmls in other
Pref.shares issued_50,000,000 50.000,000
companies
91,919,339 92,083,965 Com.shares issued 41,380,400 41,380,400
Cash
200,201 Balance, profit_ _ _ 923,460
384,521
903,766
Total
92,303,860 92,284,166
-V.90, p. 1428.
Total
92,303,860 92,284,166
Laclede Gas Light Co., St. Louis.
(Report for Fiscal Year ending Dec. 31 1910.)
This company in February 1909 passed from the control of
the North Am. Cot to new interests, the directors beingnow:
W. K. Bixby, Adolphus Busch, D. R. Calhoun, Murray Carleton, Alonzo
C. Church, C. H. Huttig, Edw. Mallinckrodt, James E. Smith, G. H.
Walker, Rolla Wells, Thos. H. West and C. L. Holman, all of St. Louis.
and Alonzo Potter, New York. C. L. Holman is Vice-Pres. and Gen. Mgr.
Vice-Pres. St Gen. Man. C. L. Holman reports in substance:
Gas Department.-At Station "A," the Convent St. coal gas plant was
dismantled and a thoroughly modern and up-to-date mechanically-operated
coal gas works of double the capacity was erected in lieu thereof. At the
same station, the water gas manufacturing apparatus was increased by the
addition of equipment capable of producing between 3 and 4 million cubic
feet of gas daily. With the above additions to the manufacturing plants,
the daily capacity of gas output has been increased approximately 6,000.000
cu ft., which will probably be sufficient for the increased demands of 1911.
At Station "B' an old holder was dismantled and a new one, with
double the capacity of the old one, erected in its place.
The gas-distribution system was increased by an addition of 18.94 miles
of main and 3,370 gas services. The number of gas customers increased
7,411, with a corresponding increase in gas sales of 10.5% over the year 1909.
A plot of ground on the corner of Gravois and California avenues was purchased and a new meter-repair shop, salesroom, &o., erected thereon.
Electric Department -A new electric plant of 8,000-k.w. capacity, to
replace the one destroyed by fire in 1907, is being built upon the most modern lines, and when completed the cost of operating this department will be
materially decreased thereby. At Station "A" a turbo-generator of
300-k.w. capacity was installed for the purpose of generating electric current
by the use of the exhaust steam from the gas plant.
Depreciation Reserve.-In addltion to necessary repairs, $217,233 was
deducted from earnings and carried to depreciation reserve. During the
year depreciation reserve was charged with the value of dismantled retort
house at Station "A," gas-holder at Station "B." all condemned meters, &c,
Dividends.-Advantageous contracts made for the purchase of raw
material for the manufacture of gas and covering the sale of residuals increased the earnings to a point where it was found, in the third quarter of
the year, that an increase in the dividend rate from 6% to 7% on the common stook was justified.
Natural Gas.-The conelus!on has been definitely reached by the BuschEverett Syndicate, as well as by your directors, that it is not feasible to
supply natural gas to St. Louis in sufficient quantities to make it of benefit
to the city and its people unless such gas should be discovered In sufficient
quantity within a territory much closer to St. Louis than heretofore.
Price of Gas.-Announcement was made on Nov. 23 1910 that beginning
April 1 1911 the company would voluntarily reduce the sale price of gas to
80c. per 1,000 net for the first 10,000 Cu. ft. and 60c. per 1,000 net for all
gas consumed in excess of that quantity in any one month.
INCOME ACCOUNT FOR YEAR ENDING DEC. 31.
Deduct1909.
1910.
1910.
1909.
$998,427 $1,004,094
Gross earnings _ _ _$4,501,124 $4,142,349 Interest'
Pref. divs. (5%)_.. 125,000
125,000
Oper. exp., incl.
maint. & taxes_ 2,308,863 2,276,243 Corn. divs__.(6%%)552,500 (6)510,000
124,598
217,234
Depreciation
Total deduc'ns_$1,675,927 $1,639,093
Net earnings_ _ _$1,975,027 $1,741,507 Balance, surplus__ $299,100 5102,415
4.Supplied by "Chronicle," being the amounts paid during the calendar years
named but not shown In the pamphlet report.
CONDENSED BALANCE SHEET DEC. 31.
1909.
1910.
.
1910.
1909.
Liabilities (Conch.)- $
$
Assets$
Plant, stores, &c_32,362,180 31.932,944 First mtge. 5s_ ___10,000,000 10,000.000
Ref.&ext. mtge.5s 9,182,000 8,732.000
Cash, bills & accts.
1,504,290 1,166,101 Cert. of indebt'ness 1,000,000 1.000,000
receivable
Bills & accts. pay_ 604,902
834,898
Total assets____33,866,470 33,099,045 Liabilities accrued 261,470
213,317
Surplus & reserves 1,818,098 1,318,830
LiabilitiesCommon stock... 8,500,000 8,500,000
2,500,000
Total
2,500,000
stock...._
Preferred
liabilities_33,866,470 33,099,045
As of Dec. 31 1910 the company had no notes or bills payable outstanding.
-V. 92, p. 398, 264.
Pressed Steel Car Co., Pittsburgh, Pa.
(Report for Fiscal Year ending Dec. 311910.)
Pres. F. N. Hoffstot, N. Y., Feb. 15, wrote in substance:
General Results.-The gross sales for the year were $27,975,978. The
best operating results were obtained from April 1 to Dec. 1, during which
period the lowest operating cost in our history was maintained. Replacements and renewals, charged as usual to operating expense, amounted to
$346,155. The net profits derived from all sources were $1,568,366 (after
deducting $280,000 for depreciation and renewals); of this amount, $1,417,
496 was derived from works' operations and the balance from dividends on
securities, excess receipts of interest and discount and other sources.
Outlook-Dull periods such as we are now experiencing are difficult to
contend with, as sellers of raw materials endeavor to maintain prices and
buyers of equipment expect reductions. It is also difficult to predict
the business prospects for 1911. There were at the opening of the year a
number of inquiries, but the competition for business is keen.
There were about 25% less cars ordered In 1910 than in 1909, and even
the orders placed during 1909 were much less than the average. In addition, there has been a contraction in the efficiency of car equipment, due
largely to Idleness, but in some cases failure in up-keep, and it is therefore
reasonable to expect an average (and perhaps increased) volume of business
during 1911, unless some further business disturbance occurs.
Mortgage Notes.-The last installment of these notes will be paid Feb. 1,
which will leave your company free from all indebtedness other than a purchase money mortgage of $75,000 which matures in June 1912.
Improvements.-During the year $304,302 was expended on improvements and betterments, which amount was about equally divided between
the McKees Rocks and Allegheny Works.
The MoKees Rooks plant is still in full operation, but the Allegheny plant
was closed down in November last. During the shut-down period there are
being made certain changes and improvements necessitated by the abandonment of a lease held for some years on a piece of adjoining property.
Securities Owned.-The changes in this account are due to the elimination
of the Penn. Car Wheel Co. stock (liquidated) and the purchase of the
minority interest in the Western Steel Car & Foundry Co., and the sale to
the Pittsb. All. & McKees Rocks RR. of certain property for which a bond
and mortgage was taken.
Western Steel Car & Foundry Co.-Your company now owns all the capital stock of this company, having acquired the minority interests during
the year. Prior to that time your company owned 64% of its stock. The
plant has operated almost continuously during the year, but only for the
last few months with profit. Plans are now being carried out for the installation of a thoroughly up-to-date steel car plant capable of building any
type at the rate of 50 cars per day in competition with any other builder.
Central Car Wheel Co.-The indications are that this company, which your
company has leased, will be able to make all the cast-Iron wheels that will
be required, as there is a continued inclination on the part of the railroads
to use steel forged wheels under heavy steel freight cars.
Passenger Car Department.-Thls department turned out 100% more
business last year than during 1909 and continues to contribute profits, although the margins in this class of business are small.
Patents.-During the year seven patents were granted and 18 applications
are still pending and 9 in course of preparation. At the present time your
company owns 156 patents in the United States, besides 69 in Canada.
SALES, PROFITS, DIVIDENDS, ETC., FOR CALENDAR YEARS'
1909.
1908.
1910.
1907.
$27,975,978 $10,346,816 $8,589,422 $36,443,304
Gross sales
$265,478 $2,907,920
Net earnings, all sources $1,848,366 '$1,954,583
Deduct$875,000
$875,000
$875,000
Divs. pref. stock (7%)_ _
$875,000
120,000
110,000
280,000
Depreciation & renewals
365,000
Balance,surplus
Previous surplus
[VoL. Lxxxxn
THE CHRONICLE
458
$693,366
6,653,640
8959,58.3 def.$719,522
5,694,057
6,413,579
$1,667,920
4,745,659
On Dec. 31 1910 the combined companies had orders in process of completion amounting to $2,046,218, with a much improved outlook.
THE J. G. BRILL CO. AND SUBSIDIARY COMPANIES'SALES AND
EXPENDITURES FOR THE YEARS ENDING DEC. 31.
1910.
1909.
1908.
1907.
Total sales
$5,960,779 $4,261,205 $3,845,174 $9,211,825
Oper.,gen.& admin. exp. 5,519,823
4,075,979
3,656,3431 7,842,876
Depreciation reserve
114,624
107,352
98,0901
Net profit
Other income
$326,332
$77,874
52,909
$90,741
31,368,949.
Total income
$326,332
$130,783
$90,741 $1,368,949
Less-Div.on pref. stk(7%)$320,600 (7)3320,600 (7)5320,600(5 34)8228,725
Divs. on corn. stock
(2)100,000 (3)150,000
Balance, sur. or def__sur.$5,732 def. $189,817 def.$329,859 sur.$990,224
THE 1.G.BRILL CO. AND SUBSID.COS.' COMBINED BAL.SHEET DEC. 31.
1910.
1910,
1909.
1909,
LiabilitiesAssetsCost of properties_ 8,353,684 8,468,673 Preferred stock_ _ _ 4,580,000 4,580,000
Material, raw, In
Common stock ___ 5,000,000 5,000,000
proc. & finished 1,492,485 1,980,841 Bonds (John Ste305,828
Investments
90,431
phenson Co.)___ 400,000
400,000
Bills & accts. rec'le 2,009,096 1,319,479 Bills & accts. pay_ 1,496,181
987,513
Cash
343,027
193,092 Sur.WasonMfg.Co. a429,123
Surplus
8598,816 1,085,004
Total
12,504,120 12,052,517
Total
12,504,120 12,052,517
a See footnote b. b After deducting $429,123, representing surplus of Waaon
Mfg. Co., set aside for permanent surplus of that company as an addition to its
working capital, and also $62,797 for adjustments.-V. 92, p. 397.
American Writing Paper Co., Holyoke, Mass.
(Report for Fiscal Year ending Dec. 311910.)
The report signed by the executive committee,. W. N.
Caldwell, G. B. Holbrook, James J. Storrow and Geo. B.
Noble, says in substance:
Orders.-The close of the year revealed an increased demand for the
company's product. During the first six months the tonnage of orders
received exceeded that of the same period for the preceding year by 14%;
and, during the last six months there was, practically, no difference in the
volume of business received as compared with the same period for 1909.
The shipments for the entire year were 7% In excess of those of the previous
year; but at a somewhat lower average selling price, due to a demand for
a larger proportion than usual of medium qualities of paper.
Lack of Water.-Curtailment of product, on account of lack of water
power, has been greater during the past year than at any previous time.
The cost of production has consequently been materially increased. Our
mills in Holyoke were partially deprived of water for power purposes for
149 days, and for 9 days the head-gates of the Holyoke Water Power Co.
were shut down and your company was entirely deprived of water. Such
enforced shut-downs not only necessitate the substitution of steam for
water power, but also deprive the mills of water for preparing raw materials.
Improvements.-During the year the company has expended in improvements and repairs $355,811, all of which has been charged to operating
expenses. This is an increase of $91,475 over the previous year, and results
from the policy to keep the plants thoroughly up to date, and by installing
new machinery whenever it seems necessary.
Sale.-We have sold two pieces of property located in Holyoke, and
known as the Hotel Hamilton and the Parsons Block.
Advertising.-The company has increased its expenditure for advertising
and believes that this outlay will lead to an increased demand for the more
profitable grades of paper.
Sinking Fund, &c.-The annual requirement of $100,000 for our sinking
fund has been paid, and in addition thereto $76,125 for interest on our bonds
held in the fund. The trustee purchased during 1910 and added to the
fund 191 bonds at a cost of $168,349 (average 88.14%), bringing the number
of bonds in the sinking fund Jan. 1 1911 up to 1,571, which had cost the
company $1,278,088 (average 81.41%). Balance of cash in trustee's hands
Jan. 1 1911, $40,687; total charge to sinking fund account, $1,318,775.
By direction of the board the Treasurer has invested from interest on
bonds held in the treasury $38,250, and from proceeds of real estate sales
$106,575, In bonds of this company, making 1,098 of our bonds held in the
treasury Jan. 1 1911, costing $915,947 (an average of 83%%).
The quick assets on Dec. 31 1910, Including at cost the 1,098 bonds,and
the shares of The Hartford Mfg. Co. (but not including the bonds held in
the sinking fund), were $6,365,576, an increase for the year of $129,309.
EARNINGS, EXPENSES, CHARGES, &C.
1910.
1909.
1908.
1907.
Net earnings
$1,317,242 $1,540,409
$824,541 $1,429,440
127,592
122,645
Interest, &c
140,532
136,475
$1,444,834 $1,663,054
Total net income
$850,000
$850,000
Interest on bonds
252,213
Expenses, incl. maint'ce.. 269,567
100,000
100,000
Sinking fund
Dividends (see below)-(2%)249,910 (1)124,599
$965,073
$850,000
270,289
100,000
$1,565,916
$850,000
263,799
100,000
.249,410
$1,469,477 $1,326,812 $1,220,289 $1,463,209
det.$24,643 sur.$336,242 def.$255,216 sur.$102,709
Balance
• Two divs. of 1% each were declared payable April 1 and Oct. 1 1007, but
were not paid till June 1908 after a favorable court decision; they are here
deducted from 1907 figures.
BALANCE SHEET JAN, 1.
1910,
1911.
1911.
1910.
AssetsLiabilities$
$
Plant & real est._16,629,895 16,783,847 Preferred stock_ _ _12,500,000 12,500,000
Good-will, &c___ _18,010,150 18,010,150 Common stock__ 9,500,000 9,500,000
Cash
1,384,522 1,124,465 5% bonds
17,000,000 17,000,000
4,403
Accts. receivable_11,224,179 f 1.261,180 Accounts payable_
1,163
Notes receivable_.1
1 28,595 Sink, fund reserve 1,318,775 1,142,650
Company bonds_ 915,947
761,122 General reserve
1,237,411 1,237,411
Miscall. stocks ___ _ 254,472
792,853
254,472 Surplus
768,210
Supp. & materials 2,587,619 2,810,837
Sinking fund
1,318,775 1,142,650
$7,347,006 $6,653,640 $5,694,057 $6,413,579
Net surplus _
_
Net earnings in
_1910
- from all sources ($1,848,366) are derived as follows:
Earnings from operations, $2,043,651; deduct repairs and renewals, $346,155; net from operations, $1,697,496; add dividends on stocks and securities
owned and excess of int. and disc., &o., $150,870; leaving net earnings,
$1,848,366, as shown above.
• The profits for 1909 include sale-of Canada Car Co. stock, $1,700,000.
BALANCE SHEET DEC. 31.
1910.
1910.
1909.
1909.
AssetsTotal
42,325,559 42,177,317
Total
42,325,559 42,177,317
Common stock_ __12,500,000 12,500,000
Properties & fran26,840,665 27,054,968 Preferred stock._ _12,500,000 12.500,000 Extracts from Statement to New York Stock Exchange Jan. 10 1911.
chises
500,000
Securities owned
2,785,095 1,951,740 1st M.5% g. notes 500,000
Taxes and insurPur. money mtge.
75,000 [In connection with listing of $12,500,000 pt. stk. and $15,429,000 St 55
75,000
The pref. and coin, stocks and the bonds of this company were originally
ance
23,546 Accts. payable..__ 1,062,087 1,639,361
7,798
Accounts and bills
141,926 issued to the underwriters, from whom was received $2,500,000 in cash, and
Accr.salary&wages 124,674
10,623 conveyance by deed of all the properties named below, all of which properreceivable
3,252,966 2,157,671 Accrued interest_
10,623
218,750 ties are still owned by the American Writing Paper Co., excepting the
Materials on hand_ 640,799 2,842,075 Accrued pref. divs. 218,750
778,060 Hurlbut Stationery Co. of Pittsfield, Mass., and the Syms & Dudley Paper
Cash
1,610,819
987,359 Reserve for contin. 800,000
Surplus ,
7,347,006 6,653,640 Co. of Watervliet, Mich.: these two have been sold because unprofitable.
The bonds were secured by 1st 1.1. on the manufacturing plants, mill-sites;
Total
35,138.140 35,017,360
35,138,140 35.017,360 water-powers, mills and machinery of the following-named concerns, whose
Total
properties, located as shown, were acquired by direct purchase at date of our
92, p. 265.
organization: (1) Holyoke, Mass.: Albion Paper Co , Geo. R. Dickinson Paper Co., Beebe & Holbrook Co., Conn. River Paper Co., Crocker Mfg. Co.
J. G. Brill Co., Philadelphia.
Esieeek Paper Co., George C. Gill Paper Co.,11Holyoke Paper Co., Linden
(Report for Fiscal Year ending Dec. 311910.)
Paper Co., Massasoit Paper Mfg, Co., Nonotuck Paper Co., Norman Paper
Co.,Parsons Paper Co. No. 1, Riverside Paper Co. and Wauregan Paper Co.;
Pres. James Rawle, Phila., Feb. 8, wrote in substance:
(2) Mittineague, Mass.: Agawam Paper Co.; (3) Huntington, Mass.:
General Results.-The output from the five plants owned and operated Chester Paper Co.; (4) Lee, Mass.: Eaton, May & Robbins Paper Co. and
for the year amounted to $5,960,779, contrasting with $4,261,205 in 1909, G. K. Baird Paper Co.; (5) South Lee, Mass.: Hurlbut Paper Co.; (6)
with $3,845,174 In 1908 and with $9,211,826 in 1907. After charging to Pittsfield, Mass.: Hurlbut Stat. Co. (sold); (7) Springfield, Mass.: Spring"repairs to buildings, machinery and tools" the sum of $161,083, the profit field Paper Co.; (8) De Pere, Wis.: Shattuck & Babcock Co.; (9) Watervliet;
on the output for 1910 amounted to $440,956, from which has been set Mich.: Syms & Dudley Paper Co. (sold); (10) Windsor Locks, Conn.:
aside for depreciation $114,624,leaving a net profit for the year of $326,332. Windsor Paper Co.; (11) Unionville, Conn.: Platner & Porter Paper Mfg.
While the output increased over the years 1908 and 1909, the depression Co.; (12) Manchester. Conn.: Oakland Paper Co.; (13) Franklin, 0.:
of these years, especially 1909, was reflected in the output of the first part of Harding Paper Co.
The water and steam power developed in these mills is equal to 35,268
1910. Though business was then beginning to return to a somewhat normal
condition, much of the work turned ont early in the year represented con- h. p. with the present producing capacity of 350 tons per day of high-grade
tracts taken under strong competition in the latter part of 1909. The writing and book papers, an increase of fully 30% during the last 11 years.
output for the latter part of the year showed an Improvement, and the work This substantial increase has been accomplished by keeping the plants
... • .
strictly up to date with all desirablelmoderntappliances.-V,92, p. 397. 264.
now on hand has been taken on a satisfactory basis.
[EB. 18
Diamond Match Co.
(Preliminary Statement for Fiscal Year ending Dec. 31 1910.)
1910.
Net profits after deducting reserve for doubt$2,221,668
ful accounts, iSoc
Depreciation, repairs and
371,186
replacements
Balance of profits__ $1,850,482
Profit from sale of Bryant
& May pref. stock
1909.
1908.
1907.
$2,196,877
$2,279,911
$2,610,836
477,095
385,187
314,760
$1,719,782
$1,894,724
$2,296,076
47,865
Total net earnings_ $1,850,482 $1,767,647 $1,894,724 $2,296,076
$59,848
Reconstruction chgd. off
$150,000f
20,000
$150,000
Approp. for gen. reservel
1
150,000
Depreciation reserve_ _ -J
(6%)960,000 (8)1,280,000(10)1600,000(10)1600,000
Dividends
$740,482
865,587
$187,647
677,940
$214,876
463,064
$696,076
1,387,856
$1,606,069
Total
Patents, rights, trademarks, &c.,written off 1,000,000
Reduct'n in value of pine
lands and stumpage_
$865,587
$677,940
$2,083,932
$606,069
$865,587
Surplus
Prey. surp. (as adjusted)
Surplus Dec. 31
-V. 92, p. 397. 325.
$917,371
703,497
$677,940
$463,064
Chicago (Bell) Telephone Company.
(Reportfor Fiscal Year ending Dec. 31 1910.)
President Bernard E. Sunny, Chicago, Feb. 8 1911, wrote
in substance:
General Results.-The number of telephones, the gross revenue, the number of employees and the traffic all increased about 15%, while the expenses
increased 17 3i%, as compared with the previous year. The increase of
38,259 in the number of telephones-31,364 in the city and 6,895 in the
country-in 19.10 was the largest of any year in our history.
A division of the operations as between Chicago and the country shows
a falling off in the average revenue per telephone in Chicago, in part becanse
of the increasing number of low-priced telephones and an increase in the
average operating cost per telephone. In the country there is a tendency
toward the better classes of service, which is reflected in a somewhat increased revenue per telephone.
Rates-Revision.-Under the terms of our present franchise in Chicago
provision was made for a revision of rates by the city for the 5-year period
from June 1 1910 and every 5 years thereafter. The engineers and accountants employed by the city to investigate the operations of the company reported in April 1910, after a labor of 18 months, that the present
rates produced a revenue of $900,000 per annum short of what it should be.
Another expert in Dee. 1910 reported a surplus revenue of $429,000 per
annum. 'rho two experts were, therefore, apart to the extent of $1,329,000.
The reports were alike as to the cost of the plant, but differed largely as to
the sum required annually for depreciation.
The second expert, after approving our construction vouchers for 30 years,
assumed that the Chicago plant, which had cost $23,000,000, could be
reproduced for $1,300,000 less, and then further assumed that the property
had depreciated 22%%. In this theoretical manner the value of the plant
upon which the compnay should be allowed earnings for interest and depreciation was arbitrarily reduced about $5,000,000. On the other hand,
various elements of value recognized by the courts have not been given due
weight. The company has, of course, protested. The ordinance of Nov.
1907, under which we are operating, contained a new and untried schedule
of rates, prescribed by the City Council. Many of these rates have proved
to be discriminatory between patrons and others are unremunerative as to
the company. As'a whole, they have failed to prodUce a gross revenue
sufficient to cover necessary current expenditures and adequate provision
for depreciation. Consideration of the last expert report by the Council
committee will probably continue for some time. The ordinance agrees
that any rates prescribed shall be reasonable.
GROWTH OF COMPANY'S PLANT.
1903.
1905.
1907.
1908.
1909.
1910.
•
No. of exch. telephones.300,618 262,359 231,180 202,681 143,223 101,187
335
235
431
598
614
Underg'd condult,miles
647
Miles wire underground.536,137 493,787 423,082 352,098 187,231 149,234
Total miles of wire____668,733 626,438 550,445 471,168 291,155 231,198
EARNINGS, EXPENSES, &O.
•
1907.
1908.
1909.
1910.
$11,331,153 $9,907,450 $8,741,517 $8,718,951
Gross earnings
6,976,868
6,668,176
7,686,742
•Operating expenses_ _ _ 9,076,080
$2,255,073 $2,220,708 $2,073,341 $1,742,083
(8%)2,160,000 (8)2,160.000(9 M)2012790(10)1472,713
Net earnings
Dividends paid
$95,073
Surplus
$60,708
$60,551
$269,370
• Includes repairs and maintenance amounting to $3,888,533 in 1910.
BALANCE SHEET DECEMBER 31.
1910.
1909.
1909.
1910.
Liabilities$
$
$
$
Assets27,000,000 27,000,000
30,207,132 27,840,341 Capital stock
Plant
5,000,000 5,000,000
Real est. & bidgs_I3,795,372 12,749,986 Bonded debt
a4,113,644
reserves
Replace't
1 72,588
J
Investments
501,424 Reserve for deprec.
1,925,149
703,415
Material
134,039 1,033,075
760,731 Miscell. reserves_
950,994
Bills & accts. rec
430,852 Bills & accts. pay_ 1.545,998
411,005
Furn.,fixtures,&c. 411,337
95,072
745,386
1,820,504 3,758,692 Surplus
Cash
Total
37,888,754 36,114,615
Total
37,888,764 36,114,615
a This Is a new account. It includes "reserve for depreciation" and "surplus" as
of Dec. 311909; also that portion of net earnings of 1910 charged to depreciation
and several Items transferred from "miscellaneous reserves." These amounts are
invested in the company's plant.-V.02, p. 397, 191,
Pacific Telephone it Telegraph Co.
(Report for Fiscal Year ending Dec. 311910.)
OPERATIONS AND FISCAL RESULTS.
1909,
1908.
1910.
392,822
446,622
329,977
Number of subscribers__
1,784
(f)
(2
Exchanges and offices__
(2)
36,538
Miles long-dist'ce circuits
(2)
Earnings
$10,051,963 $8,933,796 $7,660,411
Exchange service
3,715,329
3,091,991
2,580,365
Toll
859,230
458,874
899,820
Miscellaneous
1907.
301,469
1,778
31,325
$6,733,936
2,120,032
389,597
$14,667,112 $12,885,018 $10,699,650 $9,223,565
Total
EXpense$790,055
$616,198 $1,052,028
General (including taxes) $652,958
3,308,997
2,722,205
3,002,348
Operating
a4,235,314
2,826,249
4,100,571
3,280,000
Maintenance
05,358,112
539,351
439,746
470,554
646,138
Rentals
1,035,384
533,7231
Miscellaneous
c899,177
788,189
1,267,131
1,021,356j
1,676,208
Interest
Total
Balance
Dividends (6%)
Reserve for maint
$13,467,907 $11,041,489
$1,199,205 $1,893,529
1,080,000
1,080,000
600,000
$8,924,179
11,775,471
1,080,000
$7,828,416
$1,395,149
1,080,000
$163,529
$695,471
$315,148
surp.for year_--
$119,205
a Operating expenses include "commercial," $1,637,311; "traffic,"
$2,598,003.
b "Maintenance", includes repairs, $2,035,380; station removals and
changes, $718,232: depreciation of plant, $2,604,500.
b, c "Miscellaneous" includes insurance, amounting to $89,081 In 1910,
459
THE CHRONICLE
1911.]
BALANCE SHEET DEC. 31.
1910.
1910.
1909.
Assets$
$
Plant
49,676,1340 41.730,065 Preferred stock..18,000,000
Real estate
3,084.567 2,753,425 Common stock _ _ _18,000,000
Supplies, &c
2,515,792 2.031 877 Bonded debt
29,375,000
Sinking fund
811.979
855,689 Accrued liabilities 472,527
Reserve for disc. &
32,953
Reserve accounts_
cost of sale of bds. 2,107,888 1,792,594 Replacement reBills & accts. rec 2,138,896 1,610,182
4,190,567
serves
Prepaid expenses_ 311,624
Bills and accounts
Reserve accounts
6,350,815
payable
70.830
Stocks and bonds_16,066,712 15,781,162 Surplus
1,293,353
Cash and deposits_ 1,001,317
291,610
1909.
18,000,000
18,000,000
23,000.000
327,010
2,334,337
3,881,939
1,174.148
Total
77,715,215 66,717.434
Total
77,715,215 66,717,434
Total expense during 1910 on plant and real estate, $8,277,616, against $5,622,575
In 1909.-V. 92, p. 122.
Atlantic Gulf & West Indies SS. Lines, New York City
(Report for Fiscal Year ending Dec. 31 1910.)
The report contains no text, comprising merely:
BALANCE SHEET OF PARENT HOLDING COMPANY.
Assets1910.
1909.
Invest, in stocks of subsid. cos. and other securs.
acquired in exch. for stks. and bonds of this co.
(incl. securs. not pledged under the mtge., valued at $525,040 in 1910,against $538,166in 1909) $42,988,987 $42,988,988
Marine equipment
1,250,000
Invest. in bonds, stocks and other securs. subsequently acquired, not pledged-at cost (valued
in
$550,367
1909) __
at $704,221 in 1910, against
742,937
476,153
Notes and accounts receivable
481,461
883,380
Unexpired insurance
7,944
Cash deposited with the Equitable Tr. Co. to meet
316,825
coups. falling due on Jan. 1
325,000
13,539
215,029
Cash in banks
$45,801,693 $44,888,550
Total
LiabilitiesCommon stock
Preferred stock
Fifty-year 5% collateral trust gold bonds
Bonds guaranteed
Notes payable
Accrued interest on bonded debt
Surplus
$14,998,200 $14,998,200
14,996,400 14,996,400
12,997,000 12,997.120
1,200,000
827.000
325,000
316,825
744,830
1,293,268
$45,801,693 $44,888.550
Total
INCOME ACCOUNT YEAR ENDING DEC. 31 1910.
$1,122,305 Other interest and taxes_ __ $33,477
Divs. from sub. cos
18,407
175,489 Marine insurance
Int. on investments, &c
2,351
Sundry expenses, ecc
Total
$1,297,794
$749,355
DeductTotal deductions
$650,000
Interest on bonds
45,120
$548,439
Surplus for the year
Int. on coll, trust notes
The foregoing income account does not take into consideration the undivided surplus earnings of the subsidiary companies. The total free and
unpledged assets at market value, after payment of all bonded and other
interest accrued to Jan. 1 1911, amount to $1,732,205. A consolidated
balance sheet of the subsidiary companies, also income account, will be
mailed to all stockholders of record as soon as the accounts for the year can
be closed. This will probably be about April 1 next.-V.92. p. 921.
Ores Carpet Co., New York.
(Statement for Year ending Dec. 31 1910.)
STATEMENT OF EARNINGS.
1909.
1910.
$416,688
$534,278
122,236
152,111
1908.
$276,863
102,236
$382.167
$294,452
$174,627
8.779
89,549
8,331
34,871
32,935
$251,250
$303,839
(53470)165,000 (5)150,000
$141,692
(2) 60,000
Gross earnings
Expense-Selling, admin. & gen.exp.
Net earnings
Extraor. exp.-Maint. of Oskosh and
Superior plants not in operation,&c.
Depreciation charges
Net surplus for year
Dividends
Balance, surplus
$81,692
$138,839
$101,250
BALANCE SHEET DEC. 31.
1910.
1910.
1909.
1909.
Liabilities
$
$
$
-$
Assets3,000,000 3,000,000
.2,053,745 2,107,931 Capital stock
Property
Accounts payable..__
54,754
54,626
Franchises, good575,214 589,963 Pay-roll, St. Paul
will, &c
and grass dept_
12,412
234,916 128,887
Cash
Bills & accts. receiv_ 216,559 141,395 Dividend account
1,324
944
Mfd. product(cost)_ 267,655 275,969 (balance)
558,866 420,027
278,887 231,832 Profit and lass
Raw mat'l & supp_
Total
3,626,976 3,475,977
Total
3,626,976 3,475.977
• Includes: St. Paul plant, $1,302 402; Superior plant,$95,720;Oshkosh
plant, $24,119: grass dept., $628,261; furniture and natures, $3,243.
V. 91, p. 1256.
American Straw Board Co.
(Reportfor Year ending Dec. 31 1910.)
President Sidney Mitchell stated at the meeting:
The business was not so successful as it should have been,"principally
because of vigorous competition from independents. In the last two or
three years there have been quite a number of new mills put into operation;
and, as production thus has grown at a more rapid pace than demand, we
have not been able to get the prices of two or three years ago, and have
not shown the profits that we should show. We look for a better year
during 1911, chiefly because of the signs of curtailment in output. If now
we can reduce our production, we can get a paying price for board and
should improve our showing. There are indications of such a development
as makers are widely disgusted with the idea of making board at a price
which does not pay."
INCOME ACCOUNT.
Interest Balance;
Net
Admin.
Gross
Earns. Expenses. Earns. Charges. Surplus.
Period Covered$99,475 $53,263 $46,213 $10,482 $35,731
Calendar year 1910
37,896
76,773
5,357
71,416
8 mos. end. Dec. 25 1909_114.669
BALANCE SHEET DECEMBER 31 1910.
$
Liabilities ($6,627.789)Assets ($6,627,789)$
6,000.000
Real est.. plants, machin., arc...5,332,881 Capital stock
694,000 Bond account
200,000
Stocks and bonds
7,170 Bills payable
265,000
Personal property
260,374 Accounts payable
Merchandise and supplies
45,257
238,336 Reserve account
Accounts receivable
31,998
85,534
95,027 Surplus
Cash
-V. 90. p. 374.
Illinois Brick Company, Chicago.
(Report for Fiscal Year ending Dec. 31 1910.)
Pres. William Schlake, Chicago, Feb.6 1911, wrote in brief:
The earnings for 1910 amount to $574,794, being 13% on the outstanding
capital stock, which was distributed as follows: Dividends on stock (8%);
460
THE CHRONICLE
$346,200; to reserve for depreciation aco't, $181,099; to surplus acc't,
$47,495. In addition, there was expended $72,692 for maintenance and
repairs, which were charged to expense, and, therefore, do not appear in the
statement submitted.
Plant Account.-The considerable increase In buildings and machinery
account is attributable to: (1) Purchase of additional brickmaking properties; (2) installation of patent brick-setting device, and (3) the merging of
the purchase and construction account into the buildings and machinery
account. The wisdom of the purchase of the brick plants above named
appears to have been fully shown by earnings, and these plants should continue to prove a profitable investment.
New Stock.-On Feb. 7 1910 an increase of $1,000,000 in the capital stook
was authorized (V. 90, p. 449). Of this amount $400,000 has been issued
at par; the remaining $600,000 Is still in the treasury.
Brick on Hand.-Dec. 31 1909, 119,000,000:_Dec. 31 1910, 83,000,000;
decrease, 36,000,000.
Brick-Setting Device,-This device has proven an unqualified success
and fully justifies the large amount of money expended in its installation,
as It both facilitiates operation and produces a better quality of brick. It
has been in operation on four of our plants during the summer and fall
months. A fifth plant was started shortly before the inclement winter
weather compelled a cessation of operation. With the opening of the
brick-making season of 1911 eight plants will be ready to use the machine.
Dividends (7) Paid Since January 1905.
-1908
1910
1911.
Jan. Apr, July. Oct.
Oct.
1905. 1906. 1907. Jan.
Jan.
1 ;4
1
2
2
4
1
2
2
5
4
RESULTS FOR CALENDAR YEARS.
Dividends.
Net
Depreciation
Calendar
Balance,
Profits.
Paid.
Reserve.
YearsSurplus.
5574,794
(87
0)5346,200
$181,099
1910
$47,495
174,116
1909
(l5) 60,000
114,116
BALANCE SHEET OF DECEMBER 31.
1909.
1910.
1910.
1909.
Liabilities$
Assets$
a1,040,325 1,100,115 Capital stock
Real estate
5,000,000 4,000,000
Bldgs. & machin'y_3,740,356 2,537,913 Pay-rolls & current
1
___ _
600,000
acc'ts not due
Unissued stock
125,586} 296,554
48,920
45,387 Bills payable
Cash
465,0001
Acc'ts & bills ree'le. 394,079 254,413 Dividend Jan. 15
88,000
60,000
298,707 400,300 Deprec'n reserve
Brick & supplies
181,099
b243,634 Surplus
New construction_
272,703 225,208
10,000
Stock subscription__
Total
6,132,388 4,581,762
Total
6,132,383 4,581,762
a After deducting real estate purchase, long-time-paper, 5112,800.•
b Also includes "purchase" of property.-V. 90, p..1242.
•
[VOL. Lxxxxii.
Calendar
Year-
Dividends,
Net • Pf. Divs. Corn.Divs. Balance,
Total
Int., &c.
Profits.
(6%).
(8%). Surplus. Surplus.
$2,008,809 $1,218,237 $390,000 $520,000 $308,237 $2,449,673
1,978,391 1,207,494 390,000 520,000 297,494 2,141,437
00
90
19
The combined gross earnings of the Stock Yards Co. and the Railway Col
were $5,291,009 in 1910, against $5,057,980 in 1909, and the net earnings
(after exp.,int. and taxes), $2,150,092, against 52,148,494.-V.91, p. 1712.
1
Chicago & Western Indiana RR.-Called Bonds.-Ninetysix ($96,000) general mortgage bonds of 1882, drawn for
redemption, are payable on March 1 at 105 and interest at
office of J. P. Morgan & Co.,
-V.91, p. 1327.
Colorado Railway, Light & Power Co., Trinidad, Colo.Default-Application for Receivership.-Walston H. Brown
& Brothers of New York on Feb. 8 filed a suit in the Federal Court at Denver asking for the appointment of a receiver for the company.
The petitioners allege that they are creditors to the amount of $250,000
(including a promissory note for $16,800 which fell due Feb. 1 and remains
unpaid), and that the coupons due Feb. 1 on the $1,864,000 outstanding
bonds (the petitioners being the largest bondholders) remain unpaid, and
that the aggregate liabilities greatly exceed the assets. It is also alleged
that the officers of the company are improvident and squandering its
assets; that $134,000 bonds were transferred without consideration to President Frank P. Read, and that they threaten to divert part of the proceeds
of the bond issue to the payment of interest on the outstanding
bonds instead of to improvements, as required by the mortgage. The company's
officers claim that it is solvent and that the petition is actuated by a disagreement over the payment to the petitioner of $85,000 alleged to be due
on a contract for construction work.-V.90, p. 167.
Erie RR.-Application to Issue Notes and Bonds.-The
company applied on Feb. 16 to the Public Service Commission, Second District, for authority to issue $12,500,000 collateral gold notes and $1,382,000 general lien bondsjunder
the mortgage dated Dec. 10 1895.
The proceeds of the gold notes are to be used to take up the outstanding notes of the issue of 3-year 6% collateral gold notes due April 8. Of the
general lien bonds, $382,000 are to be used to reimburse the company for
New York Pennsylvania & Ohio RR. equipment trust obligations acquired
and discharged, and the remaining $1,000,000 are those to which the company is entitled for the year 1911 under the first consolidated mortgage to
reimburse it in part for improvements and extensions.
.The Commission is also asked for an order authorizing the use of the
51,000,000 general lien bonds, the Issue of which was authorized Oct. 11 1910
This will make $38,267,000 of the bonds outstanding
(V. 91, p. 945).-V. 91, p. 1511.
Federal Light as Traction Co.-Sale of Notes.-This company, owning and operating electric-light, gas and street
RAILROADS, INCLUDING ELECTRIC ROADS.
railway properties at Grays Harbor, Wash., and at various
Alabama New Orleans Texas & Pacific Junction Railways cities and towns in the Southwest,
sold .to White, Weld
Co., Ltd.-Third Dividend (43'%) on Preferred "A" Shares & Co. and Spencer Trask & Co. its has
entire auth. issue of $2,-Earnings.-This English company reports:
000,000 6% 2-year notes. These notes have all been reTotal Gen.Ezp.e. Deben. S.F.toEx. Pf.A.
Calendar
Balance
sold by the bankers. A circular shows:
Income. Inc.Tax. Interest. Deb.Disc. Div.
YearSur.orDef.
GENERAL INVESTMENT NEWS
£204,848 £15,553 £122,789 £4,600 £63,562
1910
def.£1,657
178,995
15,508
1909
123,247
6,500
35,391
def.1,551
Adding the surplus (.£4,895) carried forward from 1009, the total surplus
Dec. 31 1910 was £3,239.
The first dividend on the 6% cumulative "A" shares,3;4 O, was paid in
March 1908, leaving about 150% accrued dividends due. The payment of
the second dividend of 2;4% in March 1910 and the third of'4 M% in March
1911 will apparently leave about 161% accrued dividends still due thereon.
-V. 90, p. 558.
American Light & Traction Co., N. Y.-Controlled Co.
Bonds.-See Madison Gas & Electric in V. 92, p. 326.
-V. 91, p. 338.
Atlantic Shore Line (Electric) Ry., Maine.-Final P yment on Bonds.-Under decree of Court a final payment of
$93 34 per $1,000 bond will be made at the Portland (Me.)
Nat. Bank on or before April 1 1911 on any 4% refunding
bonds not deposited under plan (compare V. 91, p. 869).V. 91, p. 1511 1253.
Baltimore & Ohio.-$10,000,000 432% Notes Sold to Refund Notes Due March 10.-It was announced on Feb. 14
that the company had sold to Kuhn, Loeb & Co. and Speyer
& Co., both of New York, $10,000,000 4
secured gold
notes, due June 1 1913, being the remainder of an authorized
issue of $50,000,000, of which $40,000,000 notes were sold to
them last May. The $10,000,000 notes just sold are issued
to provide funds to retire a like amount of notes maturing
March 10 1911. The collateral and other details of the $50,000,000 issue remain precisely as states:I in V. 90, p. 1295.
-V.91, p. 1327.
Beaumont (Tex.) Traction Co.-Sold.-The $125,000 receiver's certificates have been sold at par.-V. 92, p. 393.
Boston & Maine RR.-Decision.-Chief Justice Parsons
in the Supreme Court of New Hampshire on Feb. 10 held that
the company had no right to increase freight and passenger
rates on roads leased by it under Acts of the Legislatures of
1883 and 1889, inasmuch as those statutes made the leases
conditional on the maintenance of the old rates.
President Mellensays that while he proposes to carryout the law literally,
he believes It will result, if continued permanently, in a condition
contrary
to the public interests, as it would produce a chaos in rates
particular lines as exempt from a general scheme of intelligent to single out
making.
rate
He has accordingly asked the present Legislature
would be fair to all parties and permit an increasetoofwork out a plan which
charges on the leased
lines referred to.-V.91, p. 1765.
Boston Railroad Holding Co.-Stock Issue Approved.-The
Massachusetts RR. Comm. on Feb. 15 approved the petition
for authority to issue $7,042,400 of 4% preferred stock to
acquire $6,334,500 Boston & Maine RR. common stock.V. 92, p. 259, 185.
4,14
Chicago Junction Railways & Union Stock Yards 00.New Officers.-Nathaniel Thayer has resigned as President and a director, it is stated, on account of ill-health.
Vice-President Frederick H. Prince has been elected President and Bradley W. Palmer and F. Lathrop Ames, both of
Boston, directors to succeed Mr. Thayer and W. D. Guthrie,
who also resigned. Eugene V. R.Thayer becomes Vice-Pres.
Report.-For calendar years:
j_I _1
The notes are dated Feb. 15 1911 and due Feb. 15 1913, but callable after
Aug. 15 1911 in lots of $100,000 or over at par and int. upon 60
notice.
Columbia Trust Co. of New York, trustee. Interest payable days'
Feb.
and
Aug. 15 in New York. These notes are secured by first lien upon 15
all the
securities now owned by the company, subject to 5508,500 outstanding
1st
M. bonds on two of the properties. The notes are followed by $2,500,000
6% pref. stock, paid in in cash at par, and by $4,500,000 common stock.
The securities to be deposited as collateral for the note issue will represent
a cash investment of not less than 53,300,000. In addition, the company
will have in its treasury available for corporate purposes approximately
$1,000,000 from the proceeds of these notes.
Earnings for Calendar Years1908.
1909.
1010.
Gross earnings
$653,062 $697,157 5761,736
Net earnings (after taxes)
210,275
231,864
314546
Deduct interest on prior liens now outstand'ng
30,000
Balance, surplus (2 ( times the interest charge on these notes)..$284,546
Interest on these $2,000,000 notes
$120,000
The executive committee consists of James C. Colgate, of Jas. B.
Colgate
& Co., Chairman; Harrison Williams, of American Gas &
Electric Co.,
Anson W. Burchard, Asst. to Pres. General Electric Co.; Samuel
McRoberts, V.-P. Nat. City Bank; Edwin N. Sanderson, of Sanderson do Porter.
engineers. See also V. 00, p. 1490; V. 91, p. 38, 336.
Georgia & Florida Ry.-Report Denied.-An officer denies
the report that the company has purchased, or is negotiating
for,the Savannah Augusta & Northern and the Savannah &
Statesboro tailroads.-V. 92, p. 114, 59.
Georgia Railway & Electric Co.-Report.-For year:
Fiscal
Gross
Net
Other Int.&
Year.Earnings. Earnings. Income Taxes.
$
5
5
5
1910_4,040,886 2,132,442 45,854 847,605
1909_3,673,007 1,902,865 38,054 845,242
-V. 92, p. 395, 59.
Pf.Div.
Common Balance,
(5%). Dividends. Surplus.
$
$
5
120,000 (6;4)553,449 657,242
(6)510,870 464,801
120,000
Grand Trunk Ry.-Earnings.-For half-year ending Dec.
31 (approximate in 1910):
Half-year to
1910.
1909.
Half-year to
1910.
Dec. 31£
£
Dec. 31X
Gross receipts_ _3,699,900 3,632,903 Bal. for half-yr.. 386,000
Oper. expenses.2,790,700 2,753,143 Brought in
12,500
1909.
X
410,542
9,938
Net receipts__ 909,200
chgs.,less credits 487,000
879,760
Divisible bal. 398,500 420,480
463,918 Guar. dividend.. 205,000
196,800
1st pret.div. 2 3•4
85,400
85,420
Balance
422,200 415,842 2d pref. div.(234) 63,200(5)126,420
G. H. & M. sur_
3,900
12,067 3d pref. div.(
35,900
Can. Atl. deficit_
40,100
17,368
Bal. forward_
9,000
11,840
Balfor half-yr. 386,000 410,542
No dividends having been paid on the 2d preference shares for the first
half of 1909, the dividend of 5% shown in that year is that declared for the
entire calendar year 1909.
The gross receipts for the calendar year 1910 were £7,021,500 (approximately), against £6,499,371 (actual) in 1909; net,
applicable to dividends,
Including guaranteed stock, £733,200, against
£690,475 in 1908; deficit
after dividends paid, £2,700, against deficit of £387 in 1909.-V.
92,p.395.
New Director.-Sir Felix Shuster, Bart., of London, a
governor of the Union Bank of London and Smiths Bank,
has been elected a director.-V. 92, p. 395.
Gulf & Ship Island RR.-Refunding-New Bonds.-The
$500,000 mtgel gold 6% bonds, due April 1 1911, will be
paid at maturity, with. int., at Metropolitan Tr. Co., N. Y.
Fisk & Robinson, 26 Exchange Place, N. Y. City, having
purchased the $500,000 of a new issue of $1,000,000 "general
and refunding" 6% mtge. bonds of 1913-17, (dated Feb. 1
1911) issued to retire the above bonds, offer to the holders
of the latter the privilege of exchanging the same at the said
Trust Co. on the basis of par and int. for the old bonds and
993 and int. for the new issue. The bankers say:
FEB. 18 1911.1
THE CHRONICLE
461
Authorized $1,000,000. due 1913 to 1917; present issue, $500,000; dated
Feb. 1 1911 and due $200,000 April 1 1913, $200,000 April 1 1914 and
$100,000 April 1 1915, but redeemable at 103 and int. on any Int. date on
90 days' notice. Par $1,000 (0). Int. A. & 0. Coupon No.1 will be
for 2 months. Metropolitan Trust Co. of New York, trustee.
The above bonds will be secured upon the entire property, subject only
to first refunding and terminal 5% mtge., dated 1902; total authorized and
outstanding, $5,000,000; a sinking fund retires about $65,000
of these
earlier bonds annually, and there are now held In the sinking
fund $416,000
thereof. Of the new bonds, $500,000 may be used
for corporate purposes.
as provided in the mortgage, and $500,000 are now issued
to refund an
equal amount of maturing 6% bonds of 1909-11. The bonds
of 1909-11
were authorized and issued to the amount of $1,000,000 to cover
cost of
construction of 60 miles of railroad; $250,000
were paid off in cash on
April 1 1909 and $250,000 on April 1 1910, leaving $500,000
April
due
The company owns and operates 307 miles of standard-gauge 1 2911.
railroad
extending from a connection with the Illinois Central
RR. at Jackson, the
capital of Mississippi, to Gulfport, Miss. the only deep-wate
r harbor in
Mississippi. The terms of the company's
'charter limit the bonded debt
to $20,000 per mile of railroad. The total expenditures for railroad, terminals and equipment have largely exceeded this limitation. The
balance
of the cost has been provided by the stockholders. The terminals
at Gulfport alone have cost more than $2,000,000.
The average annual surplus for ten years ended June 30 1910, after deducting interest and sinking fund payments on the 1st M. 5% bonds,
was
equivalent to four times the maximum interest charge on the total auth.
asue of "general and refunding bonds", while the surplus for the six months
ended Dec. 31 1910 was at the rate of 6 yi times this interest charge. Compare V. 91, p. 1245.
of New York announce that the subscriptions to the $5,000,000 refunding and improvement 5% bonds offered last week
have been closed, the issue having been largely oversubscribed.
-V. 92, p. 395, 322.
Kentucky Securities Corporation.-Plan.-See Lexington
& Interurban Rys. below.-V. 92, p. 322.
Kentucky Traction Co.-Proposed Consolidation.-See
Lexington & Interurban Rys. below.-V. 76, p. 864.
Lexington (Ky.) & Interurban Railways.-Reorganization
Plan Dated Jan. 3 1911.-A copy of the reorganization plan
is now at hand giving further particulars regarding the manner in which the Kentucky Securities Corporation, recently
incorp. in Va. (V. 92, p. 322) with $5,000,000 of authorized
capital, stock, in $100shares (of which $2,500,000 will be6%
pref.), will after foreclosure or other sale succeed the Lexington & Interurban Railways Co. as the parent holding company. When this has been accomplished, the operating
trolley roads will be consolidated as the Kentucky Traction
Co., and that company will. make an authorized issue of
Halifax (N. S.) Electric Tramway Co.-Dividend Increased. $7,500,000 of "first and refunding mortgage" bonds, guaran-A quarterly dividend of 2% has been declared on the teed, principal and interest, by the Kentucky Securities
$1,400,000 capital stock, payable April 1, comparing with Corporation. The official statement says in substance:
The amount realized from the sale of securities
13
4% paid quarterly since Jan. 1910 and 13'% previously
give to the new
Securities Corporation cash resources to provide forshould
for many years.-V. 89, p. 1223.
ments of the properties for the years 1911 and 1912. the necessary requireapproximately
$1,098,400, exclusive of surplus earnings. By this plan there is an
Illinois Central RR.-Foreclosure of Mortgage of Subsid- in
reduction
the amount of bonds outstanding upon the properties; a actual
large amount of
iary.-See Indiana Southern RR. below.-V. 91, p. 1328.
new cash is provided with which to accomplish the proposed
improvements,
the construction of a power station, which Is immediately
needed,
Illinois Traction Co.-Preferred Stock Offered.-Bedell & including
and from which large economies in operation will necessarily result with
inCo., Providence, having sold more than $800,000 of the 6% creased efficiency in service, while provision is made for future requirements.
is estimated that, with the expenditures proposed, the properties will earn
cum. pref. stock, offer their unsold balance of $140,000 at aItsurplus
over and above all fixed charges, including the proper proportion
93 and int., netting 6.45%. In October last the company of Interest on bonds proposed to be issued under the plan, of $91,080 in
reported outstanding $4,552,600 of the pref. stock; on 1911 and $113,220 in the year 1912.
I.-SUMMARY OF PRESENT CAPITALIZATION AND IN DEBTEDFeb. 10 1911, $5,304,600.
Earnings as Reported by the Bankers for Calendar Years.
Calendar
Gross
Net (after
Bond
Pf. Divs. Interest Balance,
YearEarnings.
Taxes).
Interest.
(6%). Adjust. Surplus.
$6,106,250 $2,498,227 $1,440,185 $358,544 $11,244 $688,254
1910
1909
4,584,635 1,927,264 1,250,429 265,917
851 410,067
[The pref. div. In 1910 is apparently reckoned on $5,975,727
of the
stook.-Ed.]-V. 91, p. 1328.
Indianapolis Southern RR.-Foreclosure.-Charles A. Peabody and Alexander G. llackstaff, as mortgage trustees, on
Feb. 15 filed a suit in the Federal Court at Indianapolis, Ind.,
to foreclose the mortgage securing an issue of $10,000,000
bonds, all of which are owned by the Illinois Central RR. the
interest on which is in default. Comp ire V. 89, p. 286.
The aggregate amount of Interest in default July 1 1910 was $1,181,698,
of which $125,000 has since been paid on account. A similar bill was filed
in the U. S. Circuit Court for the Eastern District of Illinois, and a decree
there entered providing that unless the company paid $11,056,698, the
found to be due, by Feb. 19 1911, the mtge. should be foreclosed andamt.
the
property sold. Walter S. Horton was appointed special master by the Illinois Court to conduct the sale at Effingham, Ill., the upset price to be
500,000. An ancillary order is asked adopting and approving the order
$2..
entered in the Illinois Court and effective as to the property in Indiana.
An answer was filed acknowledging the allegations of the bill and consenting to a decree.-V.89, p. 286.
Interborough-Metropolitan Co.-Extension of Voting Trust.
-Notice is given that, pursuant to the terms of the voting
trust agreement, August Belmont, Edward J. Berwind,
Andrew Freedman, Theodore P. Shonts and Cornelius Vanderbilt, the duly appointed successors of the original voting
trustees, have filed with their agent their certificate for the
renewal of the voting trust for a further period of 5 years
from March 6, when the present term expires.
Holders of voting trust certificates are requested to execute an agreement
for such renewal containing the same terms and conditions as the original
voting trust, counterparts of which may be obtained at the office of August
Belmont a: Co., 23 Nassau Street, New York.
Provision is made In the voting trust agreement for the issuance of pref
stock trust certificates in exchange for shares of the pref. stook of those
holders who may desire to avail themselves of the privilege of becoming
parties to the voting trust agreement.
For the convenience of holders of voting trust certificates, a power of
attorney authorized the gentlemen named therein to execute the renewal
agreement on their behalf, which may be returned to Charles B. Ludlow,
Secretary of the voting trustees, 23 Nassau St., N. Y. Holders of 75% of
certificates for both classes of stook have already approved the extension.
-V. 92, p. 183.
Jersey Central Traction Co.-Bonds, &c.-Morris Brothers
N. Y., Phila. and Portland, Ore., are offering at 923 and
int., yielding 5.45%,"gen. and ref. M." 5% gold bonds, due
Dec. 11954, but callable at 105 and .int. on or after Dec. 1
1914. Interest payable semi-ann. June 1 and Dec. 1. Cap.
stock auth. and issued, $1,500,000; gen. M. bonds auth. and
issued, $1,500,000, including $750,000 res. to retire 1st M. 5s.
Owns and operates 36.09 miles of standard, high-speed, interurban electric road from Perth Amboy, N. J., to Atlantic Highlands, N. J.; also operates 534 miles additional under contract. Serves a population along its
route of about 110,000, In addition to which there is a tributary population
of 150,000 using the road. It also accommodates residents along the seashore, traveling to N. Y. City and other points north. Operates almost
entirely on Its own right of way, which is owned in fee simple. Franchises
for both passenger and freight for long periods and on favorableconditions.
The revenue of the Middlesex & Monmouth Electric Light. Heat & Power
Co. (all of whose $100,000 1st M. bonds and 346,200 of whose $50,000 capital stock are deposited with the trustee as additional security) showed for
the year 1909 an increase of 50% and for 1910 should show a further increase of not less than 25%; said company supplies both city lighting and
private power and lighting in South Amboy, Iclatawan, Keyport. Belford,
Keansburg, Port Monmouth, New Monmouth, Middletown, Navesink and
Highlands, N. J.; also serves the townships of Raritan, Holmdel and
Middletown, N. J., and disposes of power in South Amboy, N. J.. to the
Public Service By. Co., and In Red Bank, N. J., to the Shore Electric Co.
and the Monmouth County Electric Traction Co.
Earns.for Cal.Years-1910 and 1911 est.(19109 Mos. Act. Gross $165,104)
1906.
1907.
19d8.
1909. 1910(est) 1911(est)
Gross earnings_ _$90,416 $125,943 $154,080 $180,424 $215,000 $279,500
Net(aft. op. exp.)
- 11,628
15,124
59,511
83,278
125,775
Attention is called to the increase in gross earnings from 1906 to 1909
of practically 100%, and an increase In net earnings of 700% in four years.
The Perth Amboy extension was completed In 1910, too late to receive any
advantage from the summer traffie, but the estimated increase of 30% In
earnings for 1911 is believed to be conservative. See also V. 76, p. 1301.
Kansas City Southern Ry,-Bonds Oversubscribed.Ladetiburg, Thalmann & Co. and the National City Bank
NESS OF ALL COMPANIES.
-Capital Stock-Bonds
Floating Debt
Held by By Lex. cfc Held by By Lex. db Held by By Lex. db
Name ofCompany- Public. Int.Rys. Public. Int.Rys. Public. Int.Rys,
Lex.&Int.Rys.fcom.2,000,000
11,386,000 1208,0001 8872.558
(HoldingCo.) lpref. 382,800
ipledgedf
1
Lexington fly. Co.__
75 799,925
217,399
23,426
Pass. & Belt 1st 68
a63.0001
cLex. fly. 1st 5s
a1,437,0001
Lex. fly. 2d 58
78,000
Cent. Ky. Trac. Co_
425,000
1,183,000
20,877 171,355
Blue Grass True. Co_
700,000
13,437
11,015
Geo. & Lex. Tr. 1st 5s
,000 a200.0001
Blue Grass Ti. 1st 5s
a414,0001
86,000
Blue Grass Tr. 2(15s..
84.000
Lex. Utilities Co.__ 100,000 "c"
9,176
10,130
Lex. U HL Co. 2d 58. --45,000
Blue Grass Park Co_
5,000
2,750
Cent. Ky. Land Co
225
13,570
Note.-The Indebtedness between operating companies has not been considered,
since this will be canceled by the merger, nor is injuries, etc., act. Included.
a To remain undisturbed. b Includes three collateral trust 6% loans aggregating
$859,000 ($750,000 due May 1 1911, secured by $1,071,090 Central Ky. Traction 1st
M. 5s; $100,000 call loan secured by $188,000 Lex. & Int. Rys. 5s and $6,000 Central
Ky. Traction 1st 58, and a 89.000 call loan secured by $13,000 Cent. Ky. Traction
1st 58); also accrued int., &e., $13,558. c The Lexington Utilities Co. in 1909, as
consideration for the conveyance to it of the electric light, power, gas and ice properties of the Lexington fly. Co., assumed one-half of the $1,437.000 1st M. 58.
The interurban system, 69 miles. Is In good physical condition. The city
lines of Lexington and Frankfort still need large expenditures. The power
house is entirely inadequate. It is estimated that the financial requirements under a 2 years' program of new construction and betterments, including provision for all floating debt except the $850,000 to be assumed
by the new holding company, will require an outlay of $1,112,267 as follows:
Floating debt (exclusive of two loans above mentioned), $299,767;new
power plant, $500,000; track and roadway (net) $110,100; stations, buildings, equipments and extensions. $126,400; 2-year payments on 10-year
paving notes, $16,000; construction interest 1911 $20,000; rcorg. expenses,
$40,000. This amount will be met by sale of $280,000 pref. stock at par to
common shareholders, the sale of $800,000 new corn. stock and $800,000
new bonds to syndicate for $680 000 and from the sale for $138,400 (est.
proceeds from sale of the Collateral under the $750,000 and $100,000 loans
above the amount required to liquidate the same.
SECURITIES,ETC.-AMOUNTS TO BE HELD BY PUBLIC
1. Kentucky Securities Corporation (stock in $100 shares; no bonds)
a. Common stock authorized,$2,500,000; present issue to be.. _$2,053.100
To holders of $2,000,000 common of Lex. dc
Int. Rys. In exchange (on purchase of 14%
new pref. at par) (underwritten) ____(50%)$1,000,000
Exchangeable with $306,240 (80%) new pref.
for $382,800 old pref.
95.700
Exchangeable with $1,574,000 (100%)25new
pref. for $1,574,000 col. tr. 5s (Incl.
$188,000 pledged under $100,01 0loan)(10%) 157,400
To be sold with $800,000 new Ky. Tr. 5s for
$680.000 cash
800,000
b. Pref. 6% stock, cum. from Jan. 1 1913, with preference
also as to assets. Auth., $2,500,000; present issue to be 2,160,240
To be sold at par to present common stockholders (underwritten)
(14%) $280,000
Exchangeable with $95,700 (25%) new corn.
for $382,800 old pref
(80%) 306,240
Exchangeable with $157,400 (10%) new corn.
for *1,574,000 col. tr. 58
(100%) 1,574,000
c. Collateral loans representing collateral loans of Lex. & Int.
Rys. (a), $750,000, and (b) $100,000-see above-assumed, to be secured by pledge, respectively, 01(a) $1,071,000 of new Ky. Traction bonds below described, and
(b) $188,000 pref. stock and $18,800 corn, stock of Ky.
Securities Corp. It Is contemplated that these loans will
ultimately be liquidated by sale of the collateral
2. Kentucky Traction Co., to be formed by consolidation of Lex. 850,000
fly. Co.. Central Ky. Trac. Co. and Blue Grass Tr. Co.a. Capital stock auth., $2,500,000; present Issue to be $2,087,000, of which Ky. Securities Corp. will own $2,086,925 and the public only
75
To be exchanged,$ for $, for stock of cons. cos.$1,925,000
To be exchanged, $ for $, for 2(1 M. 5s, viz.:
Lex. By., $78,000, and Blue Gr.Tr.,$84,000
162,00()
b. "First and ref. M." 30-year 5s, total auth. $7,500,000: present issue to be soil with *800,000 common stock for
$680,000 cash (the bonds so sold to include $112,00Q of
the $1,183,000 received in exchange for Cent. Ky. Tr.
5s and $86,000 in exchange for Blue Grass 1st 5s)
800,000
To be held by Ky. Securities Corp.. being received in exchange far Central Ky. Trac.
bonds, $ for $. The Central Ky. Trac. M.
Is to be canceled and the $1,071,000 new
bonds will be pledged In lieu thereof to secure collateral loan (a)-see "c" aboveand the syndicate given a 1-year option
thereon at 80 (net)
$1,071,000
Reserved to retire undisturbed bonds (see "a,'
In table I.)
2,114,000
Reserved for future extensions & additions
3.515.000
462
THE CHRONICLE
• The Ky. Securities Corp. will guarantee the new bonds, both asto prin.
and int.. byendorsement,and as security for said guaranty will Pledge with
the latter remain outthe trustee the stock and the 2d M. bonds (in event
of the Securities
standing) of the Lexington Utilities Co., subject to the right
of not exceeding $1,issue
the
authorize
to
and
for
stock
Corp. to vote said
500,000 bonds, to be secured upon the propertyofof said Lexington Utilities
the bonds of the LexingCo., subject only to the obligation of one-half
ton Ry. Co., assumed as hereinbefore stated, which bonds so auth. shall be
improvements, extensions, &c.,
used for refunding existing indebtedness,
in said mtge., or nonof said Lexington Utilities Co.,as may be provided
voting pref. stock of said Lexington Utilities Co., or both.
-ACTUAL,
1906, 1909 AND 1910
YEARS
CAL.
FOR
.-E1ARNINGS
III
(1910 2 MOS. EST.)-ESTIMATED 1911-1912 .
-Before Reorganiz'n (see note)- -After Reorgan'n1909. 1910(abt.) 1911(est.) 1912(est.)
1900 (not '08)
$486,017 $582,422 $648,000 $700,000 $750,000
Gross earnings
$156,684 $142,361 $198,000 $245,000 $300.000
Net (after taxes)
25,000
27,000
22,000
17,835
3,542
Gas earnings
$160,226 $160,196 $220,000 $270,000 $327,000
Total net
Deduct-Interest:
Undisturbed bonds_._$101,155 $106,517 $106,330 $106,330 $106,330
53,500
53,500
45,796
28,181
2,512
Collat. loans
8,000
3,766
Cr1,152
Floating debt
77,783
74,893
Old holding company_ 64,847
40,000
x5,000
New Ky. Tr. Co. 5s_
13,950
14,090
14,482
Sink. fund Lex. Ry_
[VoL. Lxxxxm
of 3-year notes to finance the company's requirements for the
current year, his official statement saying:
the Public
The directors have authorized, subject to the approval of
of $30,000,000 3-year 434%
Service Commission of the 2d Dist., the salepayable
francs and
dollars,
in
and
issued
gold notes. The notes are to be
in continuing the
pounds sterling. This money, when raised, is to be used
zone,
the
electric
in
and
Terminal
Central
Grand
the
at
work
construction
passenger.
providing third and fourth tracks on the Hudson Division, new extensions
and freight facilities at Utica and Rochester and other necessary
and improvements. This note issue covers fully the requirements of the
road for 1911.
The "Albany Argus" states that at the hearing on Feb. 14:
to
Vice-Pres. Albert H. Harris stated that no contract had been made
sell the notes, but the company believes they can be sold at a price which
will net it the equivalent of par on a 5% interest basis. The company also
states that there remains unsold $3,744,000 of its 50-year 4% gold bonds
secured by the "first and refunding" mtge. on the Geneva Corning &
Southern RR. These bonds have not been disposed of, and it is thought
that at present they cannot be bold at the price (95) fixed in the Commisslon's order. There also remain unsold $2,000,000 4% gold debentures of
1904, authorized April 20 1908, and it is believed that they cannot be disposed of to advantage in the present state of the market. The Commission.
is asked to amend its orders of July 8 and April 20 so that only the amount
already issued may stand, and the balance be reserved for issue in future
orders of the Commission.-V. 92. p. 396. 188.
$213,780
Total deductions_ _ _$167,362 $213,357 $252,391 $178,920 sr$113,220
df$7,136 df$53,161 df$32,391 sr$91,080
Bal., def. or sur
x Remainder of interest an these bonds in 1911 to be included in construction charges.
"The earnings for the year 1910, as given in the above statement, include
Central
only four months'full operation of the Nicholasville extension of the of
$15,Ky. Traction Co., and were further affected, probably to the extent
have now
000 gross, by inefficient power-house service. These conditions
will carry
been remedied to some extent, and improvements already made
plant
the power house over until the completion of the proposed new power
on or about Dec. 1 1911."
Co.
Securities
the
unless
1911,
1
April
after
binding
be
not
This plan will
the plan; but the time
is then ready to exchange the stocks as provided in the
directors of the Seby
limit so fixed may be extended until July 1 1911
at least two-thirds of each
curities Co.. with the assent of the holders of
to this plan. The
class of securities of the Lox. & Int. Rys. Co. assenting
justify the making of the
said directors are to determine when the assents
the securities has
of
majority
large
a
understood
plan effective. [It is
25 1911.] See also
assented and the time of deposit will expire on Feb.
V. 92, p. 322.
New York New Haven & Hartford RR.-"Validation"
Report Filed.-The detailed report of the board oppointed
under the Act of the Massachusetts Legislature in June last,
to examine the property with a view to "validating" the
outstanding securities, was filed with the Legislature on
Feb. 17. Facts taken from the report are given at some
length in the "Boston News Bureau" and other papers.
The report consists of about 300 typewritten pages, 60 of which comprise
the board's recommendations, 163 the statement of Prof. George F. Swain,
chief expert adviser, and the remaining pages are taken up with an appraisal
of New Haven's security holdings by Stone & Webster.
A bill has been introduced in the Massachusetts Legislature giving the
company the power to acquire the Boston Revere Beach & Lynn. VicoPresident Byrnes says the company proposes to build a double-track tunne
under Boston Harbor, connecting the East Boston branch of the Boston &
Maine and the Revere Beach road with the South Station, using the lower
level of the station; and to connect with the main line of the New Haven
at a point between the tracks of the South Terminal Co. and the Back Bay
years:
calendar
London (Ont.) Street Ry.-Report.-For Divs.(6%). Surplus. station. It is proposed to equip and operate by electricity at least 2 tracks
Interest.
of the New Haven road from Reedville to the tunnel; also the tracks
Net.
Gross.
Cal. Year$12,217 through the tunnel, and 2 additional tracks from the tunnel to Lynn, and the
$33,120
$28,750
$74,087
$256,278
1910
11,563 tracks of the B. R. B. & L. from the tunnel to Lynn; also to 4-track the
33,078
28,888
73,529
243,359
1909
main line of the Boston & Maine beyond Lynn to Beverly, building a 4-track
-V. 82. p. 1157.
tunnel through the city of Salem; and as soon as the grade crossings On
Manitoulin & North Shore Ry.-Guaranty-Construction.- the line are eliminated and the Salem tunnel completed, to operate by electricity at least as far as Beverly. The tunnel, it is estimated, will cost about
See Lake Superior Corporation under "Industrials" below. $12,000,000,
and the other work nearly the same.
-V. 92, p. 396.
Permission is asked to charge an additional fare through the tunnel.
The completion of the proposed improvements would permit trains to b
AdAgain
-Sale
York.
New
Ry.,
Street
Metropolitan
sent through from points south to points north of Boston without change.
journed.-Judge Lacombe has again adjourned the foreclosure sale, this time from Feb. 16 to April 20, on account
of the pendency of the reorganization plan before the Public
Service Commission.-V. 92, p. 118, 59.
Midland Valley RR.-Extension.-The company, which
operates 324 miles of road in Arkansas, Oklahoma and Kansas, in connection with large coal properties in Arkansas
owned by the same (Philadelphia) interests, is extending its
line from Arkansas City, Kan., to Wichita, 55 miles, under
the charter of the Wichita & Midland Valley RR., which will
be leased to the Midland Valley RR.
The County Fair Grounds, in the central part of Wichita, of about 30
acres, has been purchased for terminal yards and facilities. The city of
Wichita and the counties through which the new line will run, voted on
Feb. 14 $127,000 county bonds, being the full legal amount of County Railroad Aid bonds. Wichita is a rapidly growing city of 55,000 people, where
good railroad connections can be made with several transcontinental systems.-V.92, p. 322. 114.
Missouri Pacific Ry.-New Interests in Control-Mr. Gould
Retires from Presidency.-Announeetnent was made on
Feb. 15 that an agreement had been reached by which important large interests would at the annual meeting on
March 14 be given control. These interests include John D.
Rockefeller, Kuhn, Loeb & Co., who took the last Missouri
Pacific bond issue, and also purchased the stockholdings of
the Farquhar-Pearson syndicate (V. 91, p. 276), and Blair
& Co. and the Deutsche Bank, who 'marketed the recent
Denver & Rio Grande bond issues.
These large banking concerns, it is explained, felt it incumbent upon them, in view of the large interests they and
their clients had in the company both in the stock and bonds,
that they should assume the management and rehabilitate
and develop the property. Howard Elliott, President of the
Northern Pacific, is prominently mentioned as the possible
new President. George Gould, whose holdings have not
been lessened, will be Chairman of the board; but only 4 of
the 13 constituting the new board will be Gould men.
The board, it is announced, will now include:
MarsNew members: Paul M. Warburg, of Kuhn, Loeb & Co.; Edgar L. of
the
ton, of Blair & Co.; E. D. Adams, the representative in this country who
is
Deutsche Bank, and a vacancy left for the President to be selected,
to reside in St. Louis.
Gates,
T.
Fred
Gould,
Kingdon
Gould,
J.
George
Old members retained:
J. J. Slocum, Cornelius Vanderbilt, W. K. Bixby, E. T. Jeffery, 0. L. Garrison and Edwin Gould.
Old members dropped: Howard Gould, S. F. Pryor, Charles S. Clarke
and R. M. Gallaway.-V. 92, p. 118.
Mobile & Ohio RR.-New Directors.-Henry Hall and
A. W. Mackintosh have been elected directors to succeed
the late E. L. Russell and E. J. Buck.-V.92, p. 396, 118.
New Jersey & Hudson River Ry. & Ferry Co.-Endorsenzent of Guaranty.-The Public Service Corp. of N. J. has
issued this notice to holders of the $750,000 pref. stock:
Public Service Corp.
By the terms of an agreement, dated Jan.9 1911, the
of the annual dividends of 6%, payof)N. J. has guaranteed a1continuance
abla'semi-annually Feb. and Aug. 1 upon the outstanding prof. stock.
TheTorporation it tow prepared to stamp upon such certificates as are
purpose it invites
outstanding the terms of this agreement, and for thisTreasurer,
Newark,
mall, to J. P. Dusenberry,
youno send, by registered
of purchase of
terms
your
[See
possession."
in
certificate
N J., the
-V.91, p. 946.
$2,444,750 of the $2,500,000 stock. V. 92, p. 263.-Ed.]
New England Navigation Co.-See that co. under "Industrials" below.-V.92, p. 396,262, 188.
New York Ontario & Western Ry.-Bonds Offered.White, Weld & Co., New York and Chicago, and Potter,
Choate & Prentice, New York, are offering, by advertise,g and int., yielding over 4%%
ment on another page, at 925
income, the unsold portion of their block of $2,702,000 general mortgage gold 4s (tax-exempt in N. Y. State), due
June 1 1955, but redeemable at 110 and int. on six months'
notice. Outstanding, $6,650,000.
Brief Summary of Letter from Vice-President and General Manager J. E.
Childs, flew York, Feb. 8 1911.
(1) Secured on 448.72 miles of railroad, of which 105 is double track,
being a first lien, through deposit of bonds and stock, on 65.4 miles (Ellenvilla & Kingston and Port Jervis Monticello & Summitville), and a lien,
subject to the $20,000,000 refunding mtge., on the remainder of the property, including terminals at Weehawken, N. J.(owned) and valuable trackage rights (53.07 miles) over the West Shore RR., including the use of the
West Shore terminals at Weehawken and other points on N. Y. Harbor.
(2) These $2,702,000 bonds are issued in order to reimburse the company
for expenditures made between Feb. 1 1907 and Dee. 1 1910 for additions
and improvements, and to pay for additional equipment soon to be delivered. (V. 92, p. 322.)
(3) The New York New Haven & Hartford RR. Co., owning a majority
of the stock, has an investment in the property of $13,108,397. The two
roads connect at Campbell Hall, N. Y.
(4) $58,113,082 stock outstanding pays 2% dividends, and has an aggregate market value in excess of $24,500,000.
(5) The road is an important anthracite coal carrier, having a large
assured tonnage. The company owns docks and trestles for delivery of
coal to vessels at Weehawken, with a capacity of 10,000 tons per day.
(8) The gold notes issued in 1900, and since reduced from $2,900,000 to
$2,000,000, are secured part passu with the gen. M. bonds, but are primarily secured by mtge. of the Elk Hill Coal & Iron Co.
-Year end. June 30- -6 Mos. to Dec. 311910.
1909.
1910.
(7) Earnings0
,55
39
50
$2,844,417 $2,849,998 $1,715,046 M150
Net income
763,072
883,204
1,531,620 1,506,871
Interest, rentals, &c
$1.312,797 $1,343,127 $831,842 $789,983
Surplus over charges
(8) Growth as Shown by Earn.,&c,, per Mile ofRoad-Years end. June 30.
1910.
1905.
1900.
1890.
1895.
15,716
12,930
10,331
7,696
$5,188
Gross receipts
4,552
3,720
3,223
2,154
operation
1,020
Net from
2,405
2,336
1,788
688
345
Surplus after charges
-V.92, p. 322.
Norfolk Southern RR.-Meeting Again Adjourned.-The
shareholders' meeting to authorize a new $35,000,000 mtge.
to take the Place of the $12,000,000 mtge. provided in the
plan has been again postponed to Feb. 28, for the reason that
the drafting of a new mtge. has not yet been completed.V. 91, p. 396, 322.
Northern Electric Ry., Scranton, Pa,-Correction.-For
Syracuse & Binghamton Traction Co., read Scranton &
Binghamton Traction Co. in V. 92, p. 188.
Ohio Traction Co.-Bonds.-The shareholders will vote
Feb. 24 on authorizing $2,500,000 5% bonds to provide for
improvements and extensions and for payment of floating
debt.-V. 91, p. 871.
Ottawa (Can.) Electric Ry.-Report.-For calendar year:
Gross
Calendar
Earns.
Year$748,709
1910
677,357
1909
90, p. 447.
Net
Balance.
Interest, Contingent Dies.
Earns. Taxes,&c. Acct.
(12%). Surplus.
$277,229 $56,546 $41,000 $149,724 $29,959
12,011
247,285
149,724
36,120
49,430
Pacific Power & Light Co. (of Maine), Washington,
IXNew York Central & Hudson River RR.-$30,000,000
&c.-Sale of Bonds.-Clark, Dodge & Co.; N. Y.,
Oregon,
C.
W.
dent
Brown
on
Directors.-Presi
by
Authorized
Notes
& Co., N. Y. and Chicago, offered on
Feb. 14 confirmed the report of a proposed $30,000,000 issue and White, Weld
FEB. 18 1911.1
THE CHRONICLE
463
Feb. 14 at 94 and int., and have wholly sold, the remainder pany's general mtge.) to not exceeding $45,000,000, in order
to reimburse the Reading CO. for advances.
of the present issue of $2,898,000 "1st & ref." M. bonds.
A first lien except for $922,000 underlying bonds which cover only a
portion of the property. Followed by $1,250,000 7% pref. stock paid in at
par and 56,000,000 common stock. Compare V. 91, p. 1634.
Interest.
Surplus.
Net.
Pref. Div.
Cal. Yr.- Gross.
$159,332
$87,500
$160,299
$407,131
5930,825
1910
325,914
764,524
1909
-V. 91. p. 1634.
Peoria & Eastern Ry.-Full Interest on Income Bonds.The full 4% annual interest on the $4,000,000 4% non-cumulative income bonds will be paid April 1. The same distribution was made a year ago, but in 1909 it was omitted,
before which, however, the full 4% was paid from April 1
1902 to 1908, inclusive.-V. 90, p. 699.
Philadelphia Rapid Transit Co.-Stotesbury Interests Require Deposit of a Majority of Stock in Five-Year Voting Trust
by March 15-Depositary, Fidelity Trust Co., Philadelphia.Secretary R. B. Selfridge; in a circular dated Feb. 7 calling a
special meeting of the shareholders for Feb. 28, says:
New interests coming into the management will require that stockholders
owning a controlling interest in the property shall, on or before March 15
1911, deposit with the Fidelity Trust Co. of Philadelphia a majority of the
stock of this company, to become subject to the terms of a voting trust
agreement for a period of five years. The said Trust Co. will be prepared
to receive deposits of stock and issue negotiable receipts therefor under the
said agreement on and after Feb. 20 1911, at which time copies of the
voting trust agreement can be secured on application at the office of this
company or the said trust company. Your board recommends this action.
On Feb. 28 the shareholders will vote on(a) Increasing the indebtedness of the company from $5,000,000 to
$15,000,000, said indebtedness to be evidenced by 5% secured gold bonds.
(0) Assigning and transferring to the Union Traction Co. of Philadelphia,
the lessor of this company, all the equity and interest in the Market Street
Elevated Pass. Ry. Co., viz.: all of the capital stock of said company, the
lease of said company, and all clahns for advances to said company by the
Phila. Rapid Transit Co. [said property being subject to a mortgage of
$10,000,000 (V. 86, p. 547; V. 91, p. 1629) and an issue of $325,000 car
trust securities); likewise all equity and interest in the Doylestown & Willow
Grove Ry. Co. and the Darby & Yeadon Street Ry. Co., and in any other
street railway properties which this company has acquired since July 11902.
All of said interests and equities so assigned to the Union Traction Co.,
as owner, to be re-assigned to the Phila. Rapid Transit Co. as lessee, without
the payment of any further rental, the same as if they had belonged to the
Union Traction System, leased to this company on July 1 1902.
Said transfer is to be made only upon the condition that the Union
Traction Co. shall guarantee and assure [the circular sent to the shareholders
of the Union Traction Co. says "assume."-Ed.] the payment of the principal and interest of the said proposed issue of $10,000,000 of 5% gold
bonds of this company, as the same shall from time to time mature.
The Union Traction Co., as guarantor, to have the right to require that
not more than $2,000,000 of said bonds shall be issued in any one year
without the consent of its board of directors, and that the proceeds of said
bonds shall only be expended on property leased to this company under the
said lease dated July 1 1902, or which shall have become subject to the
terms of said lease as hereinabove set forth, or if expended on other property
such other property shall become the property of the Union Traction Co. of
Philadelphia, subject to the conditions of said lease, until the payment by
this company of all of said bonds, when such other property shall be returned to and re-vest in this company.
Said Union Traction Co. shall further pledge with the trustee as additional security for the payment of said issue of bonds all of its equity and
interest in the Market Street Elevated Passenger RT. Co.
(c) Assenting to an increase In the capital stock of the Market Street
Elevated Pass. Ry. Co. by an amount equal to its present (floating) debt,
and to an exchange of said indebtedness into the full-paid shares of stock.
(d) Authorizing the negotiation of the said issue of $10,000,000 bonds.
(e) Approving the proposed system of accounting.-V.91, p. 1711, 1630.
Pittsburgh & Shawmut RR.-Sale of Bonds.-The company will sell within two months a further block of its 1st M.
5% bonds to provide for completion of the road to Freeport,
Pa., and for initial equipment ordered. There are now outstanding $4,000,000 bonds of the authorized issue of $12,000,00(:i. It is expected to have the 102 miles from Brockwayville to Freeport, Pa., in operation by Jan. 1912. See
map and statement on pages 173 and 111 of "Ry. & Ind.
Section" and further particulars in V. 92, p. 188 and 323.
Pittsburgh (Pa.) Railways.-Favorable Dccision.-The
Common Pleas Court No. 1 on Feb. 7 handed down a decision
restraining the city from entering or prosecuting any suit
Upon the so-called 'overcrowding ordinance" entieted July 30
last, providing for penalties of $100 each for each violation.
The advances are for the payment of $2,537,800 1st and 2d M. Os. dated
1843 to 1849, and $79,000 ad M.4 Ms,dated 1857,all paid off July1 1910.
and $18,811,000 consol. Os and 7s, dated 1871, which will mature June 1
1911; also other liens and obligations which have been, or will be hereafter
paid by the Reading Co. Under the terms of the general mtge. the new
stock when issued will be turned over to the trustee of the general mtge.
The stockholders of the P. & R. Ry. will vote on April 21 on authorizing
the new stock.-V. 92, p. 323. 283.
Seaboard Air Line Ry.-Earnings.-Hambleton & Co., of
Baltimore, in their weekly circular report:
6 Mos.end. Gross
Net (after
Other
Adjust. Balance,
Fixed
Dec. 31- Earnings.
Taxes). Income, Interest. Interest. Surplus.
510,303,263 52,960,591 570,225 51,692,158 $624,487 $714.171
1910
9,507,302 2,898,831 68,382 1,957,449 208,162 801.602
1909
-V. 92, p. 189, 120.
Seattle Renton & Southern (Electric) Ry.-Electors to Vote
on Bond Issue to Purchase Plant or Build Rival System.-See
"Seattle" in "State and City" Department.-V.91, p. 1769.
Southern Pacific Co.-Proposed New Bond Issue.-The
directors on Feb. 14 took the necessary steps to authorize
the issue of $50,000,000 collateral 4% bonds in France if
present negotiations for the sale in Paris are concluded. It
is expected the issue will be made by the Central Pacific
Ry.-V. 92, p. 323, 264.
Southern Ry.-Dividends Resumed.-A dividend of 1%
has been declared on the $60,000,000 5% non-cumulative
preferred stock, payable April 24 to holders of record April 1,
being the first distribution since Oct. 1907, when 134% was
paid from accumulated surplus, making 4% for the fiscal year
ending June 30 1907.
Dividends on Preferred Stock (Per Cent).
1897,
1898.
1899.
1900. 1901. 1902 to Apr. 1907. Oct.'07.
1
2
1
4
3
5 yearly A. & 0.
1 ;i
President Finley says that he has been authorized by the board to take
up• the question of the purchase of additional power and equipment, to
constructasystem of modern "lap" sidings on twoimportant divisions where
traffic is heavy, but not sufficient to require double-trcaking now, and to
improve certain large facilities. In order to strengthen the position of the
company with reference to increasing its business, the board has also authorized improvement and expansion of freight facilities at important points.
President Finley says:
The financial condition of the company having so improved, as shownlby
the last annual report (V. 91. p. 1020, 1034) and the incomeistatcmentifor
the 6 months ended Dec. 311910, as to make such action entirely consistent
with a sound and conservative policy, the directors have declared a dividend
out of accumulated income as a fair recognition, under all the circumstances,
of the just expectations of holders of pref. stock who received dividends
for a series of years until the conditions which culminated inttheninancial
panic of the fall of 1907 and the subsequent business depression impelled
their suspension. The board has adopted the policy of resuming dividends
on a very conservative basis in the expectation that with a continuance of
favorable conditions the rate may be gradually increased until the full dividend can again be properly paid. This resumption will not result in any
modification of the progressive policy with respect to operation, maintenance and improvement of the propnty.
It is the expectation to continue the policy of charging to incomemonthly
proportionate amounts of the present balance of discount on securities
sold and of making a substantial charge to profit and loss at the end of each
fiscal year until such present decreasing balance of discount has been
absorbed.
Earnings.-For 6 months ending Dec. 31:
Net
Six
Taxes.
Mos.
Overhe
Income.
e.
1910_ _$9,458,276
$1,506,193
1909_ 9,163,909
1,097,748
Interest,
Rents, cfec.
16,845,027
7,224,980
Additions &
Betterments.
$3
31:0
55
88
4
Balance,
Surplus.
$4,088.388
3,005,179
Maturing Bonds.-The $1,851,000 Virginia Midland Ry.
series B 6% bonds maturing March 1 1911 will be paid at
maturity at the office of J. P. Morgan & Co., N. Y. City.
-V.91, p. 1711.
Texas Traction Co., Dallas to Sherman, Texas.-Bonds
Offered.-Perry, Coffin & Burr and N. W. Harris & Co., Inc.,
Boston; Harris, Forbes & Co., N. Y. City, and the Harris
Trust & Savings Bank, Chicago, are offering at 95 and int.
the unsold portion of their block of $1,000,000 1st M. gold
5s, due Jan. 11937, making $2,000,000 of the issue outstanding. A 66-mile interurban road connecting Dallas and
Sherman; private right of way except 10 in. in municipalities.
It was claimed the ordinance is unconstitutional, unreasonably illegal Earningsfor Cal. Years (Official), 1910 Actual, 1911 Est.-Present Int. Chge.
Gross. Op.& Taxes. Net.
Bond Int. Bat.,Sur
and void.
$403,047 $249,905 $153,142 $100,000 $53,142
The Court says it is not convinced by the evidence that the ordinance as 1910 (actual)
1911
(est.)
463,508
260,000
203,500
100,000 103,500
a whole is impossible of enforcement or unreasonable if proper exceptions
bill
A
introduced
in the Texas Legislature on Feb. 15 authorizes the
are made, together with a provision imposing a penalty upon persons
attempting to enter a car after notice that it contains the maximum number company to purchase and merge into itself its subsidiary, the Denison &
of passengers fixed by the ordinance. No overcrowding law, the Court Sherman Railway Co.-V. 88, p. 824.
says, has ever been successfully enforced in this country, except in Boston.
Underground Electric Rys., London.-Earnings of Subwhere the company has a regulation of its own prohibiting passengers from
Companies.-For half-year ending Dec. 31:
standing between the aisles of summer cars.
City Solicitor O'Brien says he will proceed at once to draw up another
London Electric Railway.
ordinance, and that although technically the city has lost the suit, the Last
Passengers, Gross
Net
Other Fixed -Dividends- Bal., Sur.
decision is really a victory for the city, as it points out what they can
Half- Number.
Rev.
Rev.
Inc. Chges. Pref.
Ord.
or Def.
enforce.
£
£
1010
46,665,279 352,895 185,927 5,166 94.540 a63,000 034,980 cdef.1.427
Appeal.-The city has filed an appeal to the Superior 1909
46,783,143 349,058 174,983 5,025 91.650
Court from the decision of the Common Pleas Court in October
Metropolitan District Railway.
last (V. 01, p. 1328), which sustained the company's de- 1910
36,552,304 300,808 150,213 45,437 131,155 04,751
sur.29,744
33,902,406 279,611 126,938 40,525 131,880 d25,000
murrer in the suit to enforce the ordinance providing for 1909
sur.10,584
From the earnings of the 6 mos. of 1910, £7,500 was set aside by the
universal street-car transfers (V. 91, p. 1328).
London Electric Ry. as a reserve for contingencies and renewals, against
£6,500 in 1909. The Metropolitan District Ry. set aside £10,000 as a
Public Service Investment Co.-Pref. Stock Offered,- reserve
for renewals from the earnings of the 6 mos,in each of the two years.
Stone & Webster, New York, Boston & Chicago, are placing,
•
a Div. on £3,150,000 pref. stock at the rate of 4% per annum.
at 983/9, yielding 6.10%, the remaining $500,000 of the auS Div. on £9,327,940 £10 ordinary shares, fully paid, at % per annum.
thorized issue of $2,000,000 6% cumulative pref. stock.
c Covered by surplus from previous half-year.
d Includes divs. on 4% guar. stock, and in 1910 on first preference stock
Common stock a.uth. and issued, $2,000,000. No bonded debt. The
property consists of $2,728,400 (par value) stook of companies under the at the rate of 3% per annum.-V. 92, p. 396.
management of the Stone & Webster organization, namely: Minneapolis
Union Traction Co. of Philadelphia.-Meeting.-The
Gen. Elec. Co. corn. stk., $490,000; Jacksonville Elec. Co. corn., $350,000;
Houghton City Elec. Light Co. corn., 5500,000; Houghton City Trac. Co. shareholders will meet Feb. 28 to authorize the company to
corn., $100,000; Pacific Coast Power Co. corn., $750,000; Columbus Elec. guarantee the $10,000,000 new 5% bonds
of the Phila. Rapid
Co. pref., $100,000; Seattle Elec. Co. corn., 563,400; Tampa Elec. Co.
$75,000; Galveston-Houston Elec. Co. corn.. $150,000; Northern Texas Transit Co. on the basis shown above under caption of that
Elec. Co. corn., $150,000. Present income from said securities, $159,988. company. This action will include:
The proceeds from the sale of this $500,000 treasury pref. stock will be inConsenting to increase the indebtedness of this company from $3,000,000
vested in dividend-paying securities, thereby increasing substantially the
to $13,000,000, said increase to be in the form of a guaranty of the payment
Income.-V. 90, p. 628.
of the principal and interest, as the same shall mature, of an issue of
Reading Company.-New Stock from Subsidiary for Ad- $10,000,000 of gold bonds by the Phila. Rapid Transit Co.-V.92, p.324.
tctnces to Redeem Bonds, &c.-The necessary steps are being
United Railway & Electric Co. of Baltimore.-New Contaken to increase the capital stock of the Phila. & Reading tractfor Power.-See Pennsylvania Water & Power Co. under
Ry. Co. from $20,000,000 (all pledged under the parent corn- Industrials below.-V. 87, p. 98.
464
THE CHRONICLE
Washington Baltimore & Annapolis Electric Ry.-Foreclosure Sale.-Judge Morris, in the U. S. District Court in
Baltimore, on Feb. 15 ordered the foreclosure sale of the
road at Annapolis Junction on March 20. Upset price,
$2,500,000. The reorganization committee, it is expected,
will bid in the property.-V. 91, p. 1631.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Alabama Consolidated Coal & Iron Co.-Notes.-The
Baltimore Trust Co., it is understood, paid on Feb. 1 the
$275,000 notes held by the syndicate headed by the Mercantile Trust Co. Balt., receiving a note of the Coal & Iron Co.
due May 1, the $40,000 difference representing
'
for $315,000,
a debt to the Baltimore Trlist Co. The loan it is said, is
1 $416,000 of
secured by $900,000 of 5% bonds. On May'
6% 1st M. bonds expire, so that the way will then be clear
for financing. Compare V. 91, p. 1575; V. 92, p. 264.
[VoL. Lxxxxm
Citizens' Light, Heat & Power Co. of Montgomery, Ala.Decision Affirmed.-The United States Circuit Court of Appeals on Jan. 31 affirmed the decision of the lower court in
the suit brought by Henry L. Doherty & Co. against Alexander Rice and Richard Tillis, which restrained Rice, pending full trial of the action, from selling his stock to Tillis,
and further held that the contract of sale made by Rice to
Henry L. Doherty & Co. wsa valid and that the purchase of
the stock claimed to have been made by Tillis was with full
notice of the former sale. Compare V. 91, p. 792, 466, 398.
Columbus & Hocking Coal & Iron Co.-Foreclosure.-The
Bankers Trust Co. of New York, as trustee under the collateral trust purchase money and mtge. bonds of 1906, of which
$800,000 are outstanding, has brought a foreclosure suit.
This Is done as a preliminary to reorganization. The issue is a second
lien on the properties covered by the mtge. of 1887, under which foreclosure
has been brought, and a first lien on the property of the Columbus & Hocking Clay & Brick Mfg. Co.
See Hocking Valley Products Co. below.-V. 92, p. 325.
Consolidated Gas, Electric Light & Power Co. of Baltimore.-Description of Property-Contract.-The 50-page,
New Directors.-Wm. C. Seddon and Joshua Levering, handsomely-illustrated booklet which has just been issued,
describing.the company's rpoperties, has the following to
both of Baltimore, have been elected directors.-V.92,p.264. say
regarding the allied Pennsylvania Water & Power Co.:
of
New
Jersey
.-New
Telegraph
Offiecrs.
District
American
A source of power of enormous magnitude has just been made available
elected
President
to
succeed
been
Robt.
has
Vail
-Theo. N.
by completion of the water-power development of the Pennsylvania Water
& Power Co. at McCall Ferry, Pa.(V. 90, p. 377, 1558; V. 91, p. 468, 748
C. Clowry and Wm. H. Baker and Newcomb Carlton have 1098,
1634). A transmission line 40 miles in length, consisting of steel
p.
912.
-V.
90,
Vice-Presidents.
been chosen
towers carrying two independent circuits of 70,000 volts, transmits power
Baltimore,
to
the voltage is reduced to 13,000 at a transformer subAmerican Screw Co., Providence, R. I.-Stock Reduction. station. The where
company has entered into an arrangement with the Penn-The shareholders at the annual meeting on Feb. 14 voted sylvania company whereby It will control Its entire power supply for Baltimore and vicinity, except an amount sold direct to the local traction comto reduce the capital stock from $3,250,000 to $3,000,000, pany.
Compare V. 91, p. 947.
by retirement of 2,500 shares recently purchased from the
Quarterly Dividend.-A quarterly dividend of 1% has been
Union Trust Co. of Providence.
declared on the $6,300,034 common stock, payable Feb.
The directors, it Is stated, were also authorized to purchase an additional
2,500 shares from the Union Trust Co. at a maximum of 157 and Int.; par 15 to holders of record Feb. 8. The previous distributions
$100.-V. 89, p. 780.
on the issue were for semi-annual periods, viz., 2% each on
American Thread 0o.-Decision.-Justice Hamilton in the April 27 and Nov. 11910. V. 92, p. 61.
New Director.-John L. Bailey, Treasurer, has been elected
King's Bench Division of the High Court of Justice on Feb. 15
dismissed the appeal of the company against the action of the a director to succeed Gen. Ferdinand C. Latrobe, deceased.
Inland Revenue Commissioners at Manchester in making an
Increase of Stock.-The stockholders will vote March 1 on
income tax assessment of £180,007 in respect to all the profits increasing the common stock from $6,300,054. The official
of the company.
statement says that the exact amount of new stock to be
It was claimed that the mills and business of the company are in America, issued has not yet been determined.
The company, according to reports from Baltimore, has recently been
making record sales of coal, the amount mined and marketed in January
ggregating 73,000 tons, an increase of 8,736 tons over Dec. 1910 and of
17,171 tons compared with Jan. 1910.
and that the company is, therefore, not liable to the income tax. The
Inland Revenue Commissioners contended, however, for the imposition of
the British income tax because the management of the company rests with
directors residing in England who meet at the offices of a Manchester company (the English Sewing Cotton Co.), of which they were also directors,
and which owns all the ordinary stock of the American Co -V.91, p. 91.
British Columbia Copper Co.-Report.Custom Balance,
Proceeds of Operating
Total
Year ending
Surplus.
Metal Shipm's.Expenses. Ore Purch. Surplus.
Nov. 30$51,894 $256,562 $731,266
$1,466,749 $1,158,294
1909-10
58,781
204,973
474,704
985,216
1,248,970
1908-09
During the year 1909-10 there was produced 7,143,456 lbs. of fine copper,
24,962 oz. of gold and 84,180 oz. of silver.-V.92, p. 190.
Calumet & Arizona Mining Co.-Increase of Stock Approved.-The stockholders on Feb. 15 ratified the proposition
to increas the capital stock from $2,000,000 to $6,500,000,
to acquire the Superior & Pittsburgh Copper Co., per plan
V. 92, p. 190:
Calumet & Hecla Mining Co.-Plan Approved.-The committee appointed by the Boston Stock Exchange to examine
into the advisability of the proposed merger of subsidiary
companies, per plan V. 92, p. 60, on Feb. 14 made its report,favorable to the merger, stating that the plan is fair to
all the stockholders of all the various companies.
It is reported, however, that the amount named in the resolution of the
board on Feb. 7 is $1,500,000 (this being subject to change), of which
$735,000 will be used to retire the prior lien participating stook, which may
be called and paid off at 105. The new issue, it is said, has been undert present stockholders at par.-V.92, p. 61.
written and will be offered ,
Consolidation Coal Co., Baltimore, Md.-Bonds Offered.Option to Exchange Called Bonds.-Spencer Trask & Co.,
N.Y., Albany, Boston-and Chicago, William Salomon & Co.,
New York and Chicago, and Kissel, Kinnicutt & Co., New
York, having sold about three-fourths of the present issue of
$9,000,000, are offering by advertisement on another page,
at 97 and interest, the remainder of their block of "first and
refunding mortgage" sinking fund 5% gold bonds.
The company's $3,000,000 Kentucky division 5s of 1909
and the $3,543,000 Somerset Coal Co. 5s of 1902 have been
called for payment at Guar. Trust Co., N. Y., the former on
June 1 at 105 and int. and the latter on Aug. 1 at 110 and
int. The bankers are now prepared to receive these bonds
at said price for cash, or in exchange for the new issue. This
offer is terminable without notice.
Condensed Extract from Letter of Pres. C. W. Watson, Bait., Jan.17 1911.
The company has paid dividends without interruption on its capital
stock for 26 years past, 6% having been paid since 1905.
The committee In a letter to President Shaw suggests that to make the
Security.-The bonds now issued will be a first lien upon about 185,350
plan more acceptable from a stock market point of view the number of acres of coal lands or coal rights and surface lands (of which 100,000 acres
shares issued should be greater than has been proposed, thereby giving have been recently acquired and will be paid for out of the additional
stockholders a security selling in the market around $50 rather than $200 $5,000,000 stock just issued), and a general lien, subject only to $11,000,000
a share. The high price for the proposed new unit, it is said, would de- prior bonds,upon the balanee of the property,about 111,404 acres additional'
prive many persons who have dealt for years in Lake Superior stocks from a total of about 296,754 acres. About 268,536 acres are directly owned
enjoying any speculative possibilities that might attach to the new stook, and 28,218 acres leased. Of the 185,350 acres upon which this mortgage
and, besides, the smaller unit would produce a broader market for the new is a first lien, 32,428 acres, constituting the holdings of the Somerset Coal
security.-V. 92, p. 60.
Co., will be represented by deposit with the trustee of the entire issue of the
Canadian Car 86 Foundry Co.-New ,Ally-Bonds.-See Somerset Coal Co.'s 1st M. bonds.
Tangible Assets in Addition to Above Acreage Aggregate $21,469,075.
Canadian Steel Foundries, Ltd., below.-V. 91, p. 1764.
Mining plant, tugs, mine oars, &o. (less deprec., $2,463,034) ____$9,144,008
886,371
Canadian Cottons, Ltd., Montreal.-Initial Dividend.- Advance payment on coal land purchases
3,649,149
Net quick assets (cash, bills and aco'ts rec., merch., &c.)
Dividend No. 1, PA% on pref. stock, will be paid April 4 Proceeds
1,574,000
from sale of additional capital stock, sold at par
on stock of record March 21.
Securities of other companies (representing entire or majority Int.) 3,201,815
Option of Exchange.-This company, heretofore the Net cash value of Cumb. & Penn. RR. Co. (less 1st M. bonds 3,013,732
and oar trusts)
Canadian Colored Cotton Mills Co., Ltd., makes this offer:
Sinking Fund.-On all coal mined from the property: 2 cents per ton
Holders of the ($1,850,000) 6% bonds of The Canadian Colored Cotton for first five years, 3 cents for ensuing 15 years, 4 cents for next 10 years.
Mills Co., Ltd., maturing April 2 1912, may exchange these bonds for 5% thereafter 5 cents per ton for remaining 10 years. Allowance is to be
30-year consols of Canadian Cottons, Ltd., dated July 2 1910 at 873i% and made from these amounts for the respective sinking funds upon the underint., the difference between this price and par to be paid by the company in lying bonds. The remainder is to be used in the retirement of bonds of
cash or in bonds. The new bonds Cover all the properties of the company, this Issue at not exceeding 107 A and int.
Including the recently acquired Mount Royal Spinning Co., and Gibson Earnings for Cal. Year 1910 (December Estimated) and average:1903 to 1909.
Cotton Mill. A. Bruce is Secretary-Treasurer, 28 Victoria Square, [MonCal. Yr. 1910 Aver. 7 Yrs.
treal.] Compare V. 90, p. 1241; V.91, p. 339, 465, 719.
Production (gross tons)
9,370,848
7,978,240
Canadian Steel Foundries, Ltd.-Guaranteed Bonds.-This Net earns., less depreo., insur., taxes, ece
$2,929,860
$3,013,255
interest
Bond
914,526
787,572
company, organized in January last under the Canadian Sinking fund
306,705
226,701
Companies Act, with $5,000,000 of auth. capital stock,
to merge the Montreal Steel Works (V. 92, p. 122) and the
Ontario Iron & Steel Co. of Welland, Ont will, it is reported,
make an issue of $3,000,000 6% bonds guaranteed by the
Canadian Car & Foundry Co. (V. 91, p. 1764). A block of
the bonds is said to have been taken by the Western Canada
Trust Co. for sale on the London market.
or Nathaniel Curry of the Canada Car & Foundry Co. has been elected
Net income beyond charges
$1,708,629
$1,998,982
The output is now at the rate of about 9,400,000 gross tons per annum.
With the opening of the Elkhorn field the earnings should be materially increased In proportion to the additional tonnage. The present management has been in control for a long period of years.
Digest of Report by Edward V. D'Invilliers. Geologist and Mining Engineer,
Dated Philadelphia, Dec. 31 1910.
The property consists of approximately 300,000 acres (including the recently-acquired Elkhorn tract of 100.000 acres) and some 80 mining plants
at the rate of 9.500,000 tons of coal and 175,000 tons of
President. The directors are W. F. Angus and K. W. Blackwell, both now producing
annum. The coals are standard fuels, Georges Creek, Somerset
Vice-Ps.; F. A. Skelton, Sec.; James Reid Wilson, A. H. Chave and W. W. coke per steam coal, Fairmont gas, cooking
and fuel coal, Millers Creek
smokeless
Near of Toronto.
block and splint, gas and domestic coal. The Elkhorn gas steam and
coal is not yet commercially developed, but is to be Immediately
Central Leather Co.-Proxies.--.J. S. Bache & Co., who
placed on the market through use of a part of the proceeds of the present
are requesting proxies for use at the annual meeting on issue
of bonds. The "Elkhorn Tract" will have the advantage of superior
Feb. 23, have, it is stated, already secured the same from railroad facilities through extensions of the Louisville & Nashville and
Ches. & Ohio systems, and should play an important part In the U. S. coke
$20,000,000 to $25,000,000 of the $73,000,000 outstanding Industry;
the general run of coal in the Fairmont district, W. Va., cannot
stock, representing over 1,400 stockholders.-V. 92, p. 191. compare in chemical quality with the coal of the 100,000 acres reviewed.
FEB. 18 1911.1
THE
CHRONICLE
The total value, as appraised by me, of all the properties, plants and subsidiaries, without including current assets, Is $49,780,896, equivalent to
nearly 234 times the 430,000.000 bonded debt, including the $9,000,000
now issued.
Based upon the present output of 9,500,000 tons, increased by 1,000,000
tons annually until 1916, and at the rate of 15,000,000 tons a year thereafter,
the sinking fund will aggregate $21,450,000 at the maturity of the mortgage,
which is in excess of the total bonded debt now outstanding in the hands of
the public. It Is estimated that such production up to Deo. 1 1950 will
exhaust only about 35% of the total assured tonnage. The estimated reserve tonnage of available coal is 1,506,921,870 gross tons; prospective
tonnage from coal scams not now developed, 1,250,000,000 tons; total,
2,750,000,000 gross tons. With an annual production of 15,000.000 tons,
the available supply is sufficient to last 100 years, and almost 200 years
on the combined supply, available and prospective. Offices and sales
agencies (other than the central office) are maintained at Portsmouth,
Boston, N. Y. Phila., Balto., Wash. Cincin., Detroit and Louisville.
The agencies visited,
'
both wholesale and retail, and the yards and docks
are up-to-date and efficient. The mining plants are almost without exception well designed and many of them are exemplary in equipment,
and all are being uniformly depreciated by 2 cents per ton of coal mined,
which is in addition to the sinking fund. The average current net earnings
are more than twice the total fixed charges, including the $9,000,000 bonds
now being issued.
The security for the bonds would appear ample. (See also V. 91, p.
1514; V. 92. v. 397, 325.)
Consumers' Electric Light & Power Co., New Orleans.Bonds Offered-Status.-The Syracuse (N. Y.) Trust Co. is
offering at 93 and int. 1st M. 25-year 5% gold bonds dated
Jan. 1 1911 and due Jan. 11936, but redeemable at par and
int. on any int, date prior to Jan. 1 1913 and on or after
said date at 105 and int. Par $1,000, $500, $100c*. Int.
J. & J. at Columbia Trust Co., N. Y., trustee.
Abstract of Letter from Pres. Samuel Insull, New Orleans, La., Jan. 21 '11.
Capitalization.
1st M.5% bonds, due Jan. 1 1936, authorized, $2,500,000; out_$1,600,000
Reserved in treasury to be issued only for 75% of the
actual cost of extensions, additions or improvem'ts_$900,000
Preferred stock, authorized and issued
500,000
(Cumulative to the extent of 1% the 1st year, 2% the
2d year, 3% the 3d year, 4% the 4th year and
limited to 4% non-cumulative thereafter.)
Common stock, authorized and issued
1,000,000
The bonds are a first mortgage on all property and franchises now owned
or hereafter acquired. The property consists of a main generating station,
capacity about 4,400 k.w.• a sub-station, capacity 2,500 k.w., and a second
'k.w.; a distributing system which covers the
sub-station, capacity 600
business section of the city and a part of the residential section. The
principal part of the distributing system is in underground conduits. The
company also enjoys a favorable contract with the New Orleans Railway &
Light Co., which gives It the right to extend its wires in the overhead section
of the city on the poles and In the conduits of the Railway Co. The main
power house was completed in Jan. 1907 and is thoroughly modern.
Applying the new rate schedule (fixed by the Court for the Consumers'
Electric Co. in Oct. 1910 on recommendation of a board of experts) and
using as a basis the actual business of the Consumers' Electric Co. for last
year, without taking into consideration the normal Increase in sales, I
fidently expect that the earnings for the calendar year 1911 will be: conGross earnings (estimated) _$309,0001Int. on outstanding bonds__ $80,000
Net (after taxes)
141,5001Balance, surplus .(est.) _
81,500
The above estimate makes no allowance for the large
addition to net
earnings which should result from the contract of the New Orleans Railway
& Light,Co. to purchase from the company a maximum of 6,000,000 k.w,
hours per annum; nor (b) the fact that the New Orleans Ry. & Light Co.
Is now engaged In changing its schedule of rates to the basis recommended by said experts.
The franchise runs until 1938, is without burdensome restrictions, and Is
renewable on terms as favorable as those contained in the franchise of any
other company then operating in the city.
[The company was organizediate in 1910, under the laws of Louisiana,
as successor of the Consumers' Electric Co., whose plant began supplying
electricity In Dee. 1906 and In Nov. 1910 was sold at judicial sale for $1,250,000 to the new co. The deposited old 1st M. bonds were exchanged,
$ for $,for 1st M. bonds of the new company at Teutonia Bank & Tr. Co.,
New On., on Feb. 1. The directors of the new company were reported in
Dec. last as Chas. E. Fenner, Walker B. Spencer, Bernard J. Mayer, M. S.
Hart and Esmond Phelps. Compare V. 86, p. 532.-Ed.]
Consumers' Power Co., Jackson, Mich.-Sale of Bonds.This company, controlled by the Commonwealth Power,
Ry. & Light Co. (V. 90, p. 108; V..91, p. 214), has sold to
Harris, Forbes & Co. the entirepresent issue of $4,044,000
"first lien and refunding" 5% gold bonds dated Jan. 1 1911
and due Jan. 11936, but callable on or '
after Jan. 1 1916 at
105 and int. Int. J. & J. in N. Y. or Chicago. Par $1,000
(c*). Harris Trust & Savings Bank, Chicago, trustee.
The bonds, it is understood, will be publicly offered early
next week at 96 and interest.
Condensed Letter from Pres. W. A. Foote, Jackson, Mich., Feb. 16 1911
The company, through its constituent companies, owns hydro-electric
generating plants located on the Grand. Muskegon and Kalamazoo riverse
steam generating plants at Grand Rapids, Jackson, Saginaw, Bay City,
Battle Creek, Flint, Kalamazoo, Pontiac and Owosso, and valuable flowage
lands, water rights and darn sites on the above-mentioned and Au Sable
rivers. The hydro-electric generating plants, incl. the Au Sable 'Maw
(12,000 h p.) now under construction, have a total rated capacity of about
50,000 h. p.; the steam plants about 42,000 h. p., a total of about 92,000
h. p. The duplication value of the properties (on basis of appraisal made
for Michigan RR. Commission) is largely in excess of the $9,933,000 bonds
outstanding, Including the $5,889,000 bonds of constituent cos. [Commonwealth Power Co. 5s, due 1924 (V. 87, p. 169), $2,689,000; Grand RapidsMuskegon Power Co. 5s, due 1931 (V.80, p. 172; V. 90, p. 112), $2,215,000,•
Grand Rapids Edison Co. 5s, due 1916 (V. 85, p. 43), $972,000; Grand
Rapids Edison Co. underlying issue, $13,000.1
Earnings for Calendar Years.
1909.
1910.
1910.
Gross earns__$1,982,427 $1,778,167 Int. on $9,933,000 bonds__$496,650
Net, aft. taxes $988,432 $825,706 Bal. on present bas.of ohges.$471,782
The company, through its constituent companies, controls the entire
electric, light and power business in a wide territory in the State of Michigan,
conservatively estimated to inolude a population of more than 450,000,
including the following cities: Grand Rapids, Saginaw, Bay City, Kalamazoo, Flint, Jackson, Battle Creek, Muskegon, Big Rapids, Marshall, Albion,
Pontiac, Owosso, Charlotte, Grand Ledge, and many other prosperous
and growing communities. The transmission lines are mostly on private
right-of-way. Capital stock outstanding, common, $10,000,000; pref., 6%
oum.. $3.750,000.-V. 92, p. 61.
Corn Products Refining Co.-Second Unit at Argo.-Contracts have been let for the construction of a second unit of
the plant at Argo, Ill. The new plant, which, according to
current reports, will cost from $1,500,000 to $2,500,000,will
increase the company's capacity at Argo for the manufacture
of glucose, starch, sugars, oils, and other products of corn,
to about 40,000 bushels of corn per day.-V.91,p.1712,1097.
Crane Company, Chicago.-New Stock.-A certificate was
filed in Illinois on Jan. 24 increasing the capital stock from
$13,000,000 to $17,000,000, par of shares $100.
465
Jan. 15 1911 offered at 95 and int. a small block of 1st M.
5% gold bonds, due Sept. 1 1940, prin. and int. unconditionally guaranteed by Portland Electric Co.(V. 90, p. 1243).
Capitalization,
Capital stock, authorized, $5,000,000; outstanding
$1,803000:000000
1st M. bonds, total auth. issue, $5,000,000; present
es
issue
Reserved for certain purposes but not to be issued
later than 2 years after completion of plant
400,000
For extensions, add'ns and improv'ts at 80% of cost_3,600,000
Reserved for corporate purposes
170,000
A 1st M. upon a hydro-electric plant, which, when completed,
have
an installed capacity of 4,000 k.w., situated on the Saco River will
miles from Portland, Me., together with transmission lines, &c. about 25
Earnings ofPortland Electric
Gross. Co. and Controlled Cos.-Years end. Oct. 31.
Net.
Int. Cho. Divids.
Surplus'
1909-10
$407,108 $254,573 $114,962
$39,082 $100,528
1908-09
347,055
215,343
109,482
34,433
71,428
Deere & Co., Moline, Ill.-Contract, &c.-See Moline
Wagon Co. below.-V. 91, p. 1772.
Denver Reservoir Irrigation Co.-Contingent Agreement
To Complete Works.-Leading floating debt holders of the
company and of its subsidiary and allied companies, at a
meeting held in Denver, Col., on Jan. 12, ratified the agreement of the company's officers with the Banque FrancoAmericaine of Paris, by which, on condition that the creditors
postpone the time of payment of their claims both,as to principal and interest, the bank will "advance the sum of $2,000,000 with which to complete the construction of the Standley Lake irrigation system and upon the Henrylyn irrigation
district system, as set forth in a certain letter dated Paris,
Dec. 15 1910, signed by said bank and addressed to Fred.
L. Lucas," 1st Vice-Pres. of the irrigation company. The
agreement is contingent upon the assent of all the creditors.
If the deal goes through, Arthur Day of N.Y. City will be
made sole receiver.
The advance by the bank, it Is understood, will be secured by deposit
and eventually financed by sale to that institution of bonds of the Henrylyn
irrigation district and also of $2,000,000 bonds of the irrigation company's
and $7,000,000 of its $12,000,000 stock, giving the bank complete control.
The company's total debts arc stated to be almost $3,000,000, about onehalf of which is due the Kenefick-Quigley-Russell Construction Co. of Kansas City and the Trowbridge-Niver bond house, the latter's claim being
about $700,000. Both of these large creditors, it is understood. participated In the aforesaid ratification. The construction company will contract to complete the project in 1911, as it is also required to do by contract
with the Henrylyn irrigation district, which will also be watered by the
project,$1,000,000 bondsof the district having beenissued to assist In the work.
The resolution adopted by the creditors provides in brief: "That when
the District Court in Denver has entered an order of consolidation affecting
all pending mechanics' lien foreclosure suits pertaining to the Standley
Lake irrigation system and fixing the time for answering therein, each of
them agrees to abide by the terms of said order, and will postpone the time
of payment of their respective claims, principal and interest, until the date
so fixed for answering, or until there has been delivered In accordance with
the provisions of said offer, In payment of said advances to be made, the
Henrylyn irrigation district bonds and land sales contracts in said offer
mentioned." See also "Denver-Greeley Valley Irrigation District" In
"State and City" department on a subsequent page..
Protective Committee for Municipal Irrigation Bonds.-See
"Colorado Irrigation Districts" in "State and City"departrnent.-V. 91, p. 156.
Fairmont Coal Co.-Merger.-See Consolidation Coal Co.
V. 92, p. 325.-V. 92, p. 264.
Federal Sign System (Electric), Incorporated in New York.
-Preferred Stock Offered.-Russell, Brewster & Co., Chicago
and New York, are offering, by advertisement on another
page, a limited amount of this company's 7% cum. pref.
stock at $100 per share and accrued int., with a bonus of
40% on common stock voting trust certificates. -The earnings, as shown below, are largely in excess of the pref. div.
charge. A majority of the common stock is held by Samuel
Insull, John H. Goehst (the President) and John F. Gilchrist (the Treasurer), as voting trustees. A circular says:
The "Federal Sign System" of advertising by electric signs is already
established in New York, Chicago, Philadelphia, Cincinnati, Kansas City,
Louisville, New Orleans, Detroit, Buffalo and others, and will eventually
Include every city or town of importance In the U. S. The business consists in the renting, selling and operation of electric signs, and embraces
the entire field of electric sign and display advertising. The numerous
branch offices also enable the company to do a large business in electrical
goods of all kinds. The sales business in 1910 amounted to over $200,0011
in addition to its sign-rental business. Contracts for signs run 2 to 5 years.
The Federal Sign System (electric) was incorp. In N. Y. State In 1906
with a capitalization of $1,000,000 common stock. In May 1906 an Issue
of $500,000 7% cum. pref. stock was authorized,and the company has paid
quarterly dividends at the rate of 7% per annum on its outstanding prof.
stock since that time. For the 9 months ending Dec. 31 1910 the net Income was $64,417, with surplus of $62,691 on hand; estimated net earnings
for year ending March 1911, $94,677, or over 15% on outstanding pref.
Years ending Mch. 28- 1907-08.
1908-09.
1909-10. 1910-11(est)
Gross earnings, Incl. merchandise sales
$90,036
$101,650
$253,949
$658,298
Net earnings
6,319
13,660
35,300
Dividends,7% on pref. stk.
5,521
19,739
9
44
3.'6
177
9,338
01
Surplus for year
$798
$15,561
$51,576
$4,322
4
Cities operated in Mch. 28_
6
13 (Dec. 31) 19
No. signs under contract
576
2,453
1,019
3,126
Yearly rev. therefrom
$109,270
$178,298
$414,215
$536,836
Balance Sheet March 28 1910 and 1911 (1911 Partly Estimated.
Asses1911.
1911.
1910.
Liabilities1910.
Prop., franchises,
Preferred stock__ _ $729,100 $383,6011
patents, &c..-$2,478,316 $1,175,134 Common stock_ __ 2,100,000
990,500
Material on hand_
128,201
63,958 Accounts payable_
68,668
51.607
Accts. & bills rec_
166,151
55,933 Accrued charges__
8,984
867
34.892 Undivided profits_
Cash
27,309
7,566
3.973
Deferred charges
256,129
170,767 Res, for depr., &c.
68,238
38.163
Surplus
73,550
21,974
Total
$3.056,106 $1,490,684
Total
$3.056,106 $1,490,684
Great Northern Iron Ore Properties.-Dividend.-The
trustees have declared a seventh distribution of 50 cents a
share. Distributions of the same amount were made on
Dec. 1, Sept. 15 and Mch. 15 1910, but the previous disbursements were $1 each, on Sept.16 1907, Mch. 16 1908 and
Sept. 15 1909.-V. 91, p. 1330.
(J. W.) Greene & Co.(Retail Dealers in House Furnishings
The business (est. In 1855) includes the manufacture of brass and iron and Clothing), Newark, Trenton and Lambertville, N. J.
valves and fittings for steam, gas and water service.-V.88, p. 871.
Preferred Stock Offered.-F. R. McMullin & Co. Chicago, are
Cumberland County (Me.) Power & Light Co.-Guaran- offering at par $150,000 of the company's !400,000 cum. 7%
teed Bonds
S. Felton & Co., Salem, Mass., on or about pref. stock (Q.-F.). A circular says:
THE CHRONICLE
466
[VoL. Lxxxxii.
Retailers of house furnishings and men and women's clothing on installment plan. The Newark store, advantageously located at 31, 33, 35 and 37
Market St., is four stories In height, frontage 100 ft., floor space over 75,000
sq. ft. This building is owned; deliveries are made from a near-by warehouse (leased). The store at Trenton (operated as "The Ogden-Bailey
Co.") is a four-story building (leased), frontage 50 ft., floor space 25,000
sq. ft., with large warehouse, also leased. The pref. stock may be called
after Aug. 1 1913 on any dividend date, at company's option, at $103 for
No
each share, and all accumulated divs. Common stock, $600,000. and
bonded debt. Net assets (over all liabilities), building, merchandise
accounts receivable, will, upon sale of $150,000 pref. stock at par, aggregate
Gross profits for 1910 (2
*730.000, to protect the $400,000 pref. stock.pref.
stock, $170,374; bal.,
mos. est.), $223,814; expense, incl. divs. on
working
increased
capital,
gross (est.), $294,with
1911,
For
$53,439.
sur.,
000; net, $128,775; 7% on pref. stk., $28,000:hal., sur. (est.), $100,775.
Abstract of Letter from Pres. Wm. Butterworth, Moline, III., Jan. 25 1911.
Under contract we agree at a fixed price to pay for an amount of timber
which is sufficient to retire the bonds of the Moline Wagon Co., prin. and
int., as they mature. Such payments will be made to the trustee at least
15 days prior to the maturity of the bonds and before entering upon or
cutting from any 40-acre tract.
The Moline Wagon Co. was organized in 1872. All of its $1,000,000 cap.
stock is owned by the stockholders of Deere & Co. and the majority of its
directors are also directors of Deere & Co. I am President of both cos.
On Dec. 31 1910 the Wagon Co. had total assets of over $2,000,000[of which
$1,235,719 were quick assets.-Ed.] and no mortgage liabilities.
Deere & Co. have a capital and surplus of over $15,000,000 and maintain
branch houses In 15 cities; annual net earnings for past five years have
averaged more than the amount of this bond issue. (V. 87, p. 547; V. 89,
p. 1544; V. 90, p. 375; V. 91, p. 1772.)
Hicks Locomotive & Car Co,-Sale.---The property at
Chicago Heights, Ill., will be sold Feb. 21 by order of the
United States District Court.-V. 91, p. 792.
Hocking Valley Products Co., Columbus, Ohio.-Successor
Company.-This company was incorporated in West Virginia
last week with $4,600,000 of auth. capital stock, as the proposed successor of the Columbus & Hocking Coal & Iron Co.,
per plan in V. 91, p. 874; V. 92, p. 325:
National Acme Manufacturing Co., Cleveland.-New
Stock.-The shareholders will vote Feb. 25 on increasing
the capital stock from 81,500,000 to $2,500,000.
or Def.
Income.Paid.
from Sales.
Yeardef.$59,304
$363,000
$3,760
$299,936
1910
sur. 15,819
273,000
286,380
2,439
1909
President Buckner says the earnings are not satisfactory, as they do not
equal the dividends paid, but that the situation is not alarming, as there is
ready for delivery to the U. S. Govt. an unusually large amount of powder,
from which the profits really belong to the year 1910, although under the
company's bookkeeping methods the profits will be accounted for under
the year 1911.-V. 90, D. 450.
There is also some $461,000 6% pref. stock outstanding. President (at
last accounts) W. B. Alexander; Sec., C. W. Brainard. Compare Nat.
Acme Mfg. Co. above.
A portion of the new stock, it Is supposed, will be distributed as a stook
dividend. At last advices W. D. 13. Alexadner was President. Compare
Nat. Screw & Tack Co. below and sec V.89, p. 1415.
National Biscuit Co., New York.-7--Fina/ Payment.-The
$59,803 N. Y. Biscuit 1st M. 6s, due March 1, will be paid,
p. & i., at maturity at Cent. Tr. Co., N. Y.-V. 92, p. 398.
It seems to be doubtful, however, how soon matters will be in shape for
National Enameling & Stamping Co.-Removal of Office.a transfer of ownership. As yet no order of sale has been entered.
Inland Steel Co., Chicago.-New Stock.-The shareholders The company on Jan. 23 removed its general office, now at
Louis, to Granite City, Ill., at its largest manufacturing
will vote March 2 on increasing the capital stock. A Chicago St.
plant.-V. 91, p. 461, 399.
paper says:
National Screw & Tack Co., Cleveland.-Stock Increase.The plans are not stated in the notice, but it Is understood they contemplate the issue of $1,500,000 new stock, bringing the total to $7,500,000, The shareholders will vote Feb.25 on increasing the common
all of one class. The proceeds will be turned to the construction of a new
stock from $1,000,000 to $1,250,000, with a view, rumor
blast furnace at the Indiana Harbor plant. Compare V. 92, p. 326.
International Smokeless Powder & Chemical Co.-Report. says, to paying a stock dividend of 25%,representing earnBal., Sur. ings expended on the property.
Dividends
Other
Net Earns.
Calendar
Nebraska (Bell) Telephone Co.-Report.-For cal. years:
Interest. Divs.(6 n) Surplus.
Gross.
Calendar YearNet.
$2,143,452 $426,015 $55,000 $280,854 $90,161
1910
14,923
16,951 • 275,268
307,142
1,940,973
1909
Total stations Dec. 311910,68,176, against 60,356 In 1909.-V.91,p.151.
Kings County Electric Light & Power Co., Brooklyn.- • New England Navigation Co.-Listed.-Tlie N. Y. Stock
Report.-For cal. years, incl. Ed. Ill. Co. of Bklyn.:
Exchange has listed $1,000,000 additional Providence SecurNet
Gross
Cal.
Bond
Divs. Balance, ities Co. 4% 50-year debentures, due 1957, guar. p. & i. by
Depre- Bond
Surp. the N. Y. N. H. & H. RR., making the total listed to date
Yr. Earnings. Earnings. dation. Disc'nt. Interest. (8%).
1910 _$4,338,987 $2,305,154 $539,346 $20,269 $736,306 $800,000 $209,233
3,733,840 1,909,855 430,261 20,269 617,754 800,000 41,572 $8,880,000. Amount of said debentures out $19,899,000.
-V.
1909-92. P. 397.
Lake Superior Corporation.-To Complete Railway Line
and Guarantee Bonds-Sale of Paper Company.-The shareholders will vote March 1 on confirming:
• (1) A plan for financing the completion of the Sudbury-Little Current
The New England Navigation Co. Is the successor by purchase of the
property of The Providence Securities Co. by conveyance dated Jan. 31
1908, the purchase price being the assumption of the entire indebtedness of
The Providence Securities Co. The liabilities so assumed aggregated
$20,742,189, including $19,899,000 gold debentures, dated 1907, due May 1
1957. In addition to said $19.899,000 of debentures, the New England
Navigation Co. has outstanding (as per balance sheet of Dec. 31 1910).
$4,275,000 of its own 4% 50-year debentures, duo 1955, and $75,000 bonds
of New London Steamboat Co., due 1916; total funded debt, $24,249,000.
The assets of the New England Navigation Co. on Dee. 31 1910 included,
besides cash and current assets, chiefly: Floating equipment, $10,094,900;
stock, $15,630,300 (par value) and part-paid subscription for $5,689,300
stock of N. Y. N. H. & H. RR. Co.;• registered 3, 4 and 5% gold notes of
The Dillard Co., dated Oct. 1 1909, due April 1 1924, $11,800,000 (compare
Boston RR. Holding Co., V. 89, p. 528, 992); $3,283,000 stook of Hartford
& N. Y. Transp. Co.; $2,500,000 stock and $3,250,000 4% debentures,
dated 1907, of Merch. & Miners' Transp. Co.; 30,000 shares of stock Housatonic Power Co.; good-will, $3,506,250, and leaseholds, $1,126,955.
section of the Manitoulin & North Shore Ry. and also a resolution passed
by the board of directors Feb. 1 1911 guaranteeing the principal and interest
of a proposed issue of 1st M. 5% 50-year gold bonds of the said railway
company (compare.V. 92, p. 396; V. 77, p. 771) up to the amount of
$30,000 per mile, said issue being limited, however, in the aggregate to
$3,000,000, par value.
(2) The sale of the stock and bonds of the Sault Ste. Marie Pulp & Paper
Co. (at last accounts $750,000 pref. stock, $1,250,000 corn. stock and
$1,200,000 bonds). V.77. p.771, 193; V. 91, p.868.
The "Phila. Financial Bulletin" on Feb. 13 quoted Vice-Pres. J. Tatnell
Lee as stating that nothing definite has been done toward the financing
of the Manitoulin & North Shore Ry., but that it is probable plans will be
Earniny3.-For six months ending Dec. 31 1910:
promulgated within a short time for the financing of the extension on lines
$28,200
$2,579,893 Taxes
similar to those by which the Algoma Central RR. was recently financed. Gross earnings
485,760
621,753 Interest on funded debt__
earnings
Net
This will be necessary in order to obtain the large land grants offered by
76,948
1,224,249 Charged off
the Provinicial government, in addition to the subsidy of $5,000 per mile. Other income
1,255,094
income
Net
1,846,001
income
Total
be
must
of
road
end
the
before
the
the
completed
grant
By the original
current year, but an extension of time will probably be granted.- V. 92, -V. 87, p. 875.
p. 308, 265.
Northern States Power Co.-Description of Enterprise.-
Lehigh Coal & Navigation Co.-Report.-For fiscal years: H. M. Byllesby & Co., electrical construction and operating
Interest, Sink. Fund& Dividends Balance, engineers, Chicago, are distributing a handsomely illustrated
Taxes, &c. Depreciation. (8%).
Surplus.
$1,417,409 $483,068 $1,931,744 $312,300 pamphlet of sixty-odd pages regarding the cities served and
1,314,321
452,685
1,813,976
73,560 the properties operated by them under the title of the
1,396,154
449,611
1,457,648
824,522 "Northern States Power Co." In addition to the lead-zinc
mining district of Southwestern Wisconsin, there are 25
Maryland Coal Co.-Repert.-Report for calendar year:
municipalities embraced in the company's operations, rep1910.
1909.
1908.
•def$277,058 sur$28,302 sur$91,454 sur$595,673 resenting a total population of 334,000. A good idea of the
Net profits
(25)47,117
(5)04,235 (8)150,776 substantial character of the leading hydro-electric and other
Div. on pref:stock-._
Bal., surp, or der_ _•def .$277,058 def.$18,815 dot.$2,781 sur.$444,897 plants which the company controls,or has under construction,
can be obtained from the illustrations,and much information
• After deduoting $250,000 depreciation on "Pennsylvania" plant. As
as to operations and business from the text of this compilation
to figures for 1909, see V. 90, p. 506.-V. 92, p. 328.
Under Management of II. M. Byllesby de Co.
Massachusetts Lighting Companies.-Consolidated Oper- Principal Utility Properties
Including Northern States Co. Properties and Others.
ating Account for Year ending Dec. 31Gas & Electric, Co., V. 91, p 1708.)
Net
Calendar
Revenue.
Year$4,144,521
1910
3,654,543
1909
4,127,936
1908
-V.92, p. 265.
Net
Calendar
YearIncome.
$1,166,606
1910
840,646
1909
-V. 92, p. 326.
Oper.Exp.&
Management.
*759,033
540,108
Net
Earns.
$407,576
300,538
Interest
Charges.
$96,177
74,109
Net
Profits.
$311,399
226,429
(Compare Standard
(1) Electric light, power and steam heating: St. Paul, Minn. (V. 91.
p. 592). (2) El, light, power and gas: Oklahoma City, Okla. (V. 91, p.
657; V. 89, p. 1284); San Diego, Cal. (V. 91, p. 468; V. 88, D. 1135); Stockton. Cal., Eureka, Cal. Enid, Okla., El Reno, Okla., Marshfield, Ore.,
Mankato, Minn., Faribairlt and Stillwater, Minn., Eugene, Ore., and Van
Smith,a
t ead,in
Wash.. aingdas:mFoihe
MArn.
k.
Buren, Ark. (3) Street railway, el. light, power
(4) Gas: Tacoma. Everett and Olympia,
90,p.
(V.
Okla.
1681.)
(6) Street
Muskogee,
light,
power, gas and ice:
(5) El.
railway, el. light, power and steam heating: Ottumwa, Ia. (8) El. light,
power, gas and steam heating: Fargo and Grand Forks, No. Dak. (7) El.
light, power, telephone and water: Kalispell, Mont. (9) El. light, power
and water: Springfield and Albany, Ore. (10) El. light and power: Richmond, Cal., Sapulpa, Okla., Mobile, Ala., Galena, Ill., Northfield, Minn..
Sand Point, Idaho, Corvalls, Ore.-V. 91, p. 592, 467,
Midvale Steel Co.-Favorable Decision.-Judge McPherson
in the United States Circuit Court at Philadelphia on Feb. 13
dismissed the four suits brought by the Fried-Krupp-Aktien
Gesellschaft of Prussia against the company for alleged infringement of the so-called Krupp armor-plate patents, holding that the proof was insufficient. An appeal will he taken
to the United States Circuit Court of Appeals. Compare
Nova Scotia Car Works.-Granted.-On Dec. 9 the HaliV. 89, p. 1355.-V. 90, p. 631.
fax City Council voted practically without dissent all the
Moline (Ill.) Wagon Co. (Subsidiary of Deere & Co.).- civic concessions askedby the Nova Scotia Car Works, Ltd.,
Bonds Offered.-1?. B. Hitchcock & Co., Chicago, recently the purchaser of the Silliker Car Co.
offered at par and int. $250,000 serial 6% gold bonds,
The tax-exemption period Is extended to 20 years and the civic loan of
$125.000 at 4% is continued; in addition, the company is given 5,000,000
dated Jan. 11911, A circular shows:
gallons of
with any further amount
city's
water free for 20 years,
at the
Secured through a like amount of notes of Moline Timber Co. by a 1st M. minimum rate. The offer to purchase was made by F. B. McCurdy & Co.
upon 23,794 acres of land in Arkansas owned in fee simple, est. to contain on behalf of J. R. Douglas of Amherst and associates. The new company
161,800,000 ft. of oak, hickory and other hardwoods, and appraised at has orders on hand for 1,750 box cars, and extension of the plant will be
$1,079,671 (also on lumber mill, &o.), and further secured by an agreement made at once. See also V. 91. p. 1331.
deposited with the trustee under which Deere & Co. have purchased all of
Ohio & Texas Sugar Co.-Rcceivership.-A receiver was
the standing timber and agree to pay therefor amounts sufficient to cover
the prin. and int. of these bonds as the same become due. Par $1,000 and appointed by the Court a Houston, Tex., on petition of
$500 0'. Prin. and int. (3. & 3.) at Chic. Title & Trust Co. (the trustee). creditors. Capital
stock, $1,500,000.-V. 91, p. 1776.
Chicago. Redeemable on any int. date at 103 and int. Auth. issue,
$600,000, due $30,000 semi-ann. beginning on July 1 1912; out., $500,000.
Old Dominion Co. of Maine.-Report.-For cal. year:
• The Moline Wagon Co. for nearly 40 years has been successfully engaged
Total Expenses Divs. Balance.
Divs.
Int. on
in the manufacture of farm wagons. For a number of years its products Calendar
Received. Spec. Loans.Income. & Taxes, (6%). Surplus.
Year.
weremarketed through Deere & Co. Its yearly output is about 17,000
$465,735 $25,648 $491,383 $6,875 $439,867 $44,641
wagons. Employs nearly 300 men: plant covers about 9 acres. The plow 1910
42,092
439,867
480,068
465,735
23,333
plant of Deere & Co. employs 1,800 men and covers practically 13 acres of 1909
7,109
•
ground.
-v. 89, D. 1071.
FEB. 18 1911.1
THE CHRONICLE
Ontario Power Co. of Niagara Falls.-Earnings.Govt.
Bat.,
Int. on
Gross
Other
Net
6 Mos. to Sale of
Dec. 31- Power. Rental. Income. Earns. Income. Bonds.
Surp.
$411,053 $26,620 $384,433 $315,516 $46,843 $301,752 $60,607
1910
341,561 24,863 316,698 252,404
1909
3,003 163,440 91,967
Interest as above for the 6 months of 1910 ($301,752) includes: 0. P. Co.
1st 55, $135,409 (agst. $127,251 in 1909); 0. T. Co. rental, $76,343 (agst.
$36,189-V. 85,P. 226; V.89, P. 352; V. 91, P. 720) and $90,000 interest on
the $3,000,000 outstanding 0. P. Co. 6% debentures of 1906, for which
there was no corresponding item in 1909. See below.
467
reserve as a Juaranty to pref. shareholders. The directors are: G. H. P.
Gould (Pres,); D. M. Anderson, Gen. Man.; Alvah Miller, Vice-President;
G. C. Sherman, Secy. and Treas.; Jonathan Bulkley, J. Henry Dick,
G. W.Knowlton. F. D.Mollenbauer, J. Aldoph Mollenbaur.-V.79, p. 156.
Shenango Furnactt Co., Pittsburgh, Pa.-Offering of Iron
Mine Bonds.-The Pittsburgh (Pa.) Trust Co., the mortgage
trustee, is placing at 98 and int. the unsold portion of
$2,025,000 1st M.(Webb Mine) 5% gold bonds dated June 1
1910 and redeemable at par and int. in numerical order
Payment of Two Semi-Annual Coupons on Debentures.- at any interest period.
Par $1,000. Int. J. & D. Prin.
Secretary R. C. Board says:
and int. payable at office of trustee. An advertisement
As to $2,000,000 out of a total authorized issue of $3,000,000 debentures,
the owners have placed their coupons maturing from July 1 1910 to July 1 says:
1912 In trust, with an agreement not to present them for payment unless the
interest represented by such coupons has been earned. The interest due
July 1 1910 and Jan. 1 1911 on the entire issue of debentures having been
earned, with a substantial surplus above such interest, the coupons for the
two dates just named have been presented and paid. Compare V. 91, p.
1776, 1028.
Pennsylvania Water & Power Co.-New Contract with
United Railways.-The directors on Feb. 8 approved a new
15-year contract for supplying 12,000 horse power to the
United Railways & Electric Co. of Baltimore.
The former contract made by the McCall Ferry Power Co. in June 1907
(V.85, p. 163) was canceled on account of the inability of the latter to complete the plant.
The United Railways & Electric Co., after the cancellation of the old contract, increased its power-producing plants and installed a 6,000 k.w. generator with a maximum capacity of 9,000 k.w. at its Pratt Street power
house. The current from the McCall Ferry plant will be turned on as soon
as arrangements can be made, the plants of the United Railways to be also
maintained ready for service in the event of accident In the transmission of
the current.
Possible Extension.-Two bills were introduced in the
Pennsylvania Legislature on Feb. 8 giving light, heat and
power companies the right of eminent domain and authorizing
them to supply any city, township or borough in that or
adjoining States. This would permit of extension of the
company's operations.-V. 91, p. 1684.
Pittsburgh Plate Glass Co.-Report.-For calendar year:
Year1910.
1909.
1908.
Profits
$2,540,167 $1,913,036 $1,313,275
Depreciation
713,835
594,506
610,811
Fire loss No.4
379,230
Div. on pref.(12%)
18,000
18,000
18,000
Divs. on common (7%)_ 1,284,232
1,214,500
1,214,500
Bal., sur. for year_ _ _ _
$144,870
$86,030 def.$530,036
1907.
$2,219,469
797,071
18,000
1,208,133
$196,265
Portland (Me.) Electric Co.-Guar. Bonds-New PlantsEarnings of System.-See Cumberland County Power & Light
Co. above.-V. 90, p. 1243.
Racine (Wis.) Water Co.-Maturing Bonds-Exchange.Kuhn, Fisher & Co., Boston (correspondents of J. S. & W. S.
Kuhn, Inc., of Pittsburgh), inform holders of the 1st M. 5s,
due March 1911, that they are prepared to purchase said
bonds on a favorable basis in exchange for the ref. 1st M.5%
bonds, principal and int. guaranteed by American Water
Works & Guarantee Co. of Pittsburgh, Pa. due Nov. 11931.
-V. 72, p. 535; V. 79, p. 503; V. 85, p. '
1282.
Republic Rubber Co., Youngstown, 0.-New Stock.-A
certificate was filed in Ohio on Jan. 26 increasing the authorized capital stock from $2,500,000 to $4,000,000,through
the addition of $1,500,000 pref. stock, to take care,it is said,
of improvements now in progress.-V. 91, p. 1332.
Richelieu & Ontario Navigation Co., Montreal.-Report.Calendar
Cross
Net
Insur. Written
Year- Earnings. Profits. Fund. Off.
Dividends Bal.,Sur. Total
for Yr. Surp.
Paid.
. $
1910 ____1,437,931 363,116 61,000 124,922 (5)164,430 12,764 391,465
1909 ____1,238,044 257,562 36,000 36,566 (5%)156,600 28,396 378,701
-V. 91, p. 1264.
Authorized issue, $2,500.000; held in treasury, $350,000; cash in hands
of trustee for redemption of bonds June 1 1911, $125,000; net amount outstanding, $2,025,000. Sinking fund 25e. per ton on all ore shipped, but
not less than $125,000 per annum, to be used to redeem bonds in numerica
order at any int. period on or after June 1 1911 upon 60 days' notice.
First mortgage on the leasehold estate of the company in iron ore property located on Messabe Range, near Hibbing, Minn. The lease is for 50
years from July 1 1902, and provides for a royalty of 25c. per ton on all ore
mined, ample provision being made in the mortgage for the protection of
the bondholders in case of any failure of the company to carry out the lease.
The property has been proven up to contain more than 14.000,000 tons of
merchantable Bessemer and non-Bessemer ore. Based on royalties paid on
other ore properties, the security pledged is worth many times the amount
of this issue.
Direct obligation of the Shenango Furnace Co., a Pennsylvania corporation, having assets consisting of iron ore properties, blast furnaces, coke
works, steamships, &c., conservatively valued at over $30,000,000. Its
only other mortgage indebtedness amounts to $2,976,000, (Including 1st M.
gold 5s, dated Feb. 1 1906 and due Feb. 1 1921, int. F. & A. at Union Trust
Co., Pittsburgh, trustee; auth.,34,000,000; sinking fund not less than
$266,000 annually. [Capital stock (at last accounts $5,000,000 in $100
shares.-Ed.), and surplus $10,300.000. Average net earnings for the past
five years have been in excess of $1,000,000 per annum.-V. 82, p. 632;
V. 81, p. 1796.
Standard Cordage Co.-Committee.-Frederick C. Meacham, R. H. Fiero, Frank C. Littleton and G. H. Squire Jr.,
committee for the adjustment mortgage bondholders, recently requested the deposit of those bonds with the Trust
Co. of America. Free assets which the committee wants
preserved for the adjustment bondholders should, it is said,
aggregate about $400,000.
Albert N. Parlin, of Boston, owning and representing a
large interest, has been added to the protective committee
of the first mortgage bondholders.-V. 91, P. 1714.
Telephone, Telegraph & Cable Co. of America.-Dissolu.
tion.-Vice-Chancellor Emery of New Jersey has made an
order directing all parties in interest to show cause on Feb-.
ruary 16 why the report of Charles M. Myers and Edward
M. Colic, receivers for the Telephone, Telegraph & Cable Co.
of America, should not be approved, and an offer asfollows,
by Henry S. Kearny of N. Y. for the company's property
and assets other than cash be accepted.
(1) To pay the unpaid calls at face value on 128,612 shares of stock in
full settlement of all liability thereon, said shares being all except certain
409 shares on which there are unpaid calls. (2) To pay $75,000 and obtain
a withdrawal of the right of the claim of John Frederick Wherry, amounting to $80,000 and interest, to participate In any way In any fund which
may come into the hands of the recelvers.-V. 82, p. 1210.
Tennessee Timber Co., Prendergast, Tenn.-Bonds Offered.-Charles M. Smith & Co., First Nat. Bank Bldg., Chi,
cago, having sold over two-thirds of the issue, are offering at
par and int. the unsold portion of $450,000 closed 1st M.6%
serial bonds, guaranteed by the Prendergast Co., Marion, 0.
The bankers says:
A first mortgage (Security Trust Co., Detroit, trustee) on (1) about 49,000
acres of virgin timber land, owned in fee simple, containing 267.540,280 ft.
of merchantable poplar, white and yellow pine, white and red oak, &c.,
lying in a solid body in Polk County, Tenn.; (2) a modern double-band sawmill, capacity 25,000.000 ft. per annum; planing mill, dry kilns, &c., 16M
miles of standard-gauge logging railroad, store buildings, employees'
houses, located at Prendergast. Tenn., on main line of Louisv. & Nashv.
RR., &c. Conservative appratsement of timber nearly $1,500,000, over
3 times the amount of the bonds. Prin. & int. unconditionally guaranteed
by a company that has conducted a lumber business profitably for over 16
years. Chartered accountants report the combined assets of the companies
Issuing and guaranteeing the bonds at about 32,500.000 and the net profits
for the last five years at $440,901.
Rocky Mountain (Bell) Telephone Co.-To Authorize Sale.
-The stockholders will vote on Feb. 27 on amending the
articles of incorporation so as to authorize the sale of all or
any part of the system, provided such sale is confirmed by
(The) Texas Co., Houston, Tex.-New Convertible Debena majority vote of shareholders.-V. 91, p. 152.
St. Louis Oar Co.-Reorganized.---,This company, having tures.-Pres. J. S. Cullinan in circular of Feb. 10 calling a
been reorganized, it is stated, without indebtedness and with special meeting of the stockholders for March 4, says that
resolutions will be proposed:
some $400,000 working capital, has resumed operations.
(a) Authorizing the issuance of $20,000,000 of 6% convertible gold de.
The directors are: John T. Beggs, Robert McCullough, Richard McCul- benture
bonds, dated Jan. 1 1911, to mature by their terms Jan. 1 1931,
lough, George J. Kobusch and Warner S. McCall. Officers: Pres., John I. but to be redeemable by the
company on Jan. 3 1915 or on any interest
Beggs; Chairman of the board, George J. ICobusch; See. & Treas., J. M. date thereafter at 105% and int., and each
debenture to be convertible
Taylor.-V.91, p. 1332.
into stock at option of holder on Jan. 1 1915 or on any interest payment
before that day at the rate of 6 2-3 shares of stock for one debenture
St. Regis Paper Co.,atertown, N. Y.-Pref. Stock date
bond of the face value of $1,000. The trust agreement, which is dated
Offered.-Frederic H. Hatch & Co., 30 Broad St., N. Y., Jan.
1 1911 (Equitable Trust Co., N. Y., trustee), will provide (a) that
are offering at 105 flat, yielding 5.71% income, a limited $3,000,000 of said debenture bonds shall be reserved and issued only from
to time to retire an equal amount of the 6% serial notes. V. 91.
atnottnt of 6% cumulative pref. stock, dividends Q.-J. Par time
p. 532 and (b) that a further $5,000,000 shall be reserved for future use
value of all shares $100. A circular says in substance: .
under conditions to be prescribed In said agreement.
(6) Reserving unissued shares of capital stock for the conversion of said
Incorporated in N. Y. In Jan. 1899; began making paper in July 1901. debenture
bonds.
Owns paper and pulp mills of most modern construction; production about
(c) Providing for the increase of the authorized capital stock from $36,135 tons daily; also the Village of Deferlet, where its plant is located, 000,000
to
a total of not exceeding $50,000,000, at the discretion of board.
and its own railroad equipment. The water power consists of the entire
• (d) Granting to the board authority to make sale or other disposition
flow of Black River; present development about 13,000 h.p. The lumbering from
time to time of the $8,000,000 debenture bonds reserved as in above.
operations are conducted in the Adirondacks on the head waters of Black
(e) Approving an agreement or agreements for the underwriting or sale
River In Lewis and Herkimer counties and on the St. Regis River in of not exceeding $12,000,000 of said debenture bonds.
Franklin Co. All properties are owned in fee. Owns raw material sufficient
preferential right to subscribe for their pro rata share of the $12,000,[A
plant
at
The
for six to eight years.
Defereit is favorably located as to 000 debenture bonds now to be issued will be offered
to the stockholders
securing wood from Canada, the ultimate source of supply for this industry. on terms to be announced later.] See also V. 92, p. 398.
Total auth. issue of bonds $1,300,000, of which on ,Tan. 1 1911 there had
been paid off $216,000, leaving $1,084,000.
Union Natural Gas Corporation (Pittsburgh, Pa.)Results for Fiscal Year ending April 30 1910 (showing pref. dividends earned Earnings.-For calendar years 1910 and 1909:
over 3 imes.)
Operating
Int. on
Gross
Dividends Balance,
Gas
Gross income
$1,506,067 Net profit
$164,538 Cal.
Expenses. Bds., etc. Purchased. (10%).
Year- Earnings.
Surplus.
Expenses
1,248,529 Dividends on pref. stock_
54,000 1910
_ _$3,601,380 $1,289,589 $218,525 $595,280 $900,000 $597,986
Taxes, insurance and int..
93,000
3,473,442
1,134,401
235,891
900,000
437,602
785,548
Surplus for year
__________________________ $110,538 1909
p. 1485.
Condensed Balance Sheet as of Jan. 1 1911.
States
Envelope
Co
United
.-Report.-For calendar years:
Liabilities-($3,872,058)Resources-($3,872,058)Net
Plant and water power..__32,300,000 Common stock
Period
Preferred
Interest
Depre- Balance,
$700,000
Pref. stock, 6% cum
Village, woodlands, saw
Profits.
CoveredDividends. dation. Surplus.
900,000
Paid.
mills, &o
320,000 Bonds
1,084,000 Calendar year 1910__ _$751,971 $102,988 (8%)3300,000 $75,887 $273,096
and
6
mos.
end. Dec. 31 '09 335,913
Cash-aects. receiv.
Bills payable
52,400 (5%)187,500 42,783
195,000
53,229
300,188 Accts. pay. (int. accrued
real estate mortgages__
Year end. June 30'09_ 642,182
93,029(6% %)290,625 68,625 189,901
($9.051)
Other cash items,including
36,737 -Ar, 61, p. 1163.
951,870 Surplus
materials and supplies_ _
956,321
United States Metal Products Co., Long Island City, N.Y.
Dividends on pref. stock have been paid regularly from the beginning and
no dividends can be paid on common stock unless $500,000 is held In -Stock Offered.-Turner, Tucker & (2o., N. Y. City
468
THE CHRONICLE
[Vol- Lxxxxii.
•
Boston and Buffalo, are placing $1,500,000 7% cumulative
-The Aetna Life Insurance Co. at Hartford, Conn., of
pref. shares at par ($100 each), with a bonus of 10% in which Morgan G. Bulkeley is the well-known executive,
common stock, or at $96 net without the bonus. A circu- published its 61st annual statement in the Feb. 4 issue of
lar says in substance:
the "Chronicle." This company, with $101,018,143 assets
Incorp. in Mass. (Jan. 27 1911). A consolidation of the John W. Rapp and $307,102,649 insurance in force, has paid to policyCo. and the J. F. Blanchard Co. Owns plants located in Long Island City holders since its organization in 1850
over $200,000,000.
and College Point. N. Y., for the manufacture of metal doors, window
frames, interior trim and kindred products, which have been placed in very Its growth during 1910 may be briefly summarized, viz.:
many of the large buildings constructed during the past few years.
Pref. stock authorized, $2,000,000; issued (underwritten), $1,500.000. Increase in surplus, $429,543; increase in premium income,
Common authorized, $6,000.000: issued, $5,000,000. Pref. dividends $1,110,917; increase in assets, $3,790,535; increase in life
payable quarterly In May, &c. The pref. shares in case of liquidation are insurance in force
Dec. 31 1910, $13,579,416. The comredeemable at 110; no additional pref. stock and no bond or mtge. can be
placed upon property without consent of two-thirds of pref. outstanding. pany's payments to policyholders in 1910 were $12,251,253.
The pref. shares have full voting power and if at any time 7% dividends The amount of reserve on life endowment
and term policies
should be in arrears, the pref. shall elect the majority of the board.
Average net earnings for past three years of the companies acting inde- was $82,794,149, besides a special reserve of $704,525 and
pendently and in competition are certified by chartered accountants to also $1,547,600 for
liability claims. Its surplus for policyhave been $337,813, exclusive of interest and discounts on borrowed
money. Dividends (7%) on $1,500,000 pref. shares call for $105,000, holders was over $10,000,000, in addition to $1,858,901 of
leaving on basis of above earnings a surplus of $232,813. The net quick surplus reserved for a special class of policies and dividends
assets are nearly equivalent to the entire pref. stock issue. The management Is of the best, has had a remarkably successful record, and has to policyholders, payable on demand. The total income in
taken in full payment for its properties only common shares.
1910 was $21,506,586 and total disbursements $17,997,714.
Balance Sheet, &c.-As of Sept. 1 1910, the chartered accountants report
The Aetna Life's business embraces life, accident, health and
as offsetting the $6,500,000 of capital stock ($5,000,000commonand $1,500,assets,
after
following
taking
into
the
consideration the sale of liability insurance.
000 pref.)
$1,500,000 pref. stock: Real estate, plant, &c., $1,372,903; cash and acc'ts
receivable, $887,478; merch., supplies and work in progress, $399,128;
-The attention of investors is called to the advertisement
investments, good-will, &c. $3,840,491.
their books on Sept. 1 1910 orders in excess of on another page of Win. A. Read & Co., who are offering
The two companies had on'
85% of the business done by the two companies for the entire preceding year. four choice issues of investment securities. They consist of
Extracts from Letter of President John W. Rapp,
Essex County (N. J.) 4
gold bonds, due Feb. 1951 (taxI am confident that the new company will conservatively earn, after all
expenses, $650,000 per annum. This opinion is based upon the facts that exempt in New Jersey); Chicago & North Western Ry. Co.
have
ample
will
debt,
working
of
extension
will
be
free
capital
4s,
due
1926;
to
Boston & Northern Street Ry. Co.
It
handle a much
larger volume of business, and will be able to standardize the output. 1st ref. 4s, due 1954 and Chicago &
Western Indiana RR.
Our product Is regarded with such favor that no modern office building or
first-class hotel or apartment house is now likely to be constructed with con. 4s, due 1952. Two of the issues are legal for savings
wooden trim. One of the best examples of work in our line is the Fifth banks in Massachusetts. Full details will be furnished upon
Ave. office building, N. Y. City, covering 16 acres of floor space. Every
door and window In this building is of steel or bronze furnished by us. Our application made to any of the firm's offices.
product is not only fire-proof, but the cost of maintenance is nominal.
-In our advertising columns to-day, White, Weld & Co.,
• Directars.-John W. Rapp, President; George E. Shaw, Pres. Western
Nat. Bank, Phila.; Alwyn Ball Jr., of Southaok & Ball; Deievan Emery, 5 Nassau St. New York, and the Rookery, Chicago, jointly
John W. McKinnon, of Cobe & McKinnon, Bankers;
Bradford,
with Potter,'
Pa.•. of Turner, Tucker & Co.
Choate & Prentice of this city, are offering for
Philip M. Tucker
United States Realty & Improvement Co.-Earnings.- investment $2,702,000 N. Y. Ontario & Western Ry. Co.
general mortgage 4% bonds, due 1955, and tax-exempt in
For nine months ending Jan. 31:
1909-10.
1908-09. I
1909-10,
1908-09.. N. Y. State. The bankers offer these bonds at 92% and
Gross profits_$2,001,981 $1,942,6831Int. on debs__ $450,000 $496,967 interest at
a price to yield 4%% income. See remarks in our
Exp. & taxes.. 349,997
334,233 J Dividends..(33,4)606,105(3%)565,698
"General Investment News" department and advertisement
Net profit_ _$1,651,984 $1,608,450
Surplus__ $595,879 $545,785 for details.
Gross profits for Jan. 1911 were $222,278, net pro-fits $199,550 and surplus
after interest, $149,550.-V. 92, p. 398, 194.
-A new Chicago bond house which will make a specialty
Warwick Iron & Steel Co.-Bonds Called-Notes.-The of drainage and municipal bonds has just been organized
remaining $180,000 1st M. 5s dated 1901 have been called and incorporated with $100,000 capital under the name of
for payment, p. & i., at the Real Estate Trust Co. of Phila- F. W. Morgan & Co., with offices at 1311 First National
Bank Bldg. Mr. Morgan was for 13 years with Armour &
delphia on June 1.
To provide for this payment and to retire the floating debt an issue of Co. as salesman, and more recently has been associated with
notes
has been authorized.-V. 91, p. 1098.
$300,000 of short-term 6%
a prominent bond firm. The stockholders in the new comWeed Lumber Co., San Francisco and Weed, Cal.-Re- pany are local men of capital and high standing.
funding-Bonds Offered.-Clark L. Poole & Co., Chicago,
-Burgess, Lang & Co., 34 Pine St. this city, are prepared
recently offered at par and int. $1,200,000 1st M. 6% serial
gold bonds, "the direct obligation of the largest manufac- to deal in Bangor & Aroostook RR.first main line 5% bonds
turer of pine lumber, sash, doors and boxes on the Pacific due 1943, Piscataquis Division 5s, due 1943, refunding 4s,
due 1951, and all other issues of this road. Correspondence
Coast." The bankers say in substance:
on the subject is solicited. The firm's New York office is
Audited Balance Sheet July 31 1910.
Liabilities ($4,491,914)under the management of William B. Smith 2d.
Assets ($4,491,914)Timber lands & contracts _$2,121,477 Capital stock
$1,950,000
-Spencer Trask & Co., Wm.Salomon & Co.and Kissel, KinBidgs., machinery, &c_ _ _ 1,279,782 Notes payable
488,246
657,551 Accounts payable
Inventories
203,466 nicutt & Co. of New York, are to-day advertising in the
Int. and taxes not due_ _ _
Accounts receivable (less
16,317
194,306 Bond issue (called)
reserve, &c)
437,500 "Chronicle" a public sale of 9,000,000 Consolidation Coal
227,543 Res've for dep'n of plant.. 232,777 Co. 1st & ref. mtge. sinking fund 5% bonds at 97 and int.
Cash, adv., invest., &c. _
11,255 Surplus
Cash to redeem bonds_ _
1,163,608
Particulars appear in our "General Investment News"
• This bond issue will pay off all indebtedness, including the $437,500 old
•
bonds, and will leave the company with over $1,000,000 of quick assets. department and the advertisement.
This mtge. to the First Trust & Savings Bank and Emile K. Boisot, Chi-Ames, Emmerich & Co. is the title of a new Chicago
cago, trustees, is a first closed lien on 50,000 acres, owned in fee simple, of
virgin pine timber lands, and about 3,500 acres of long time timber deeds bond firm, according to well-founded report, which is to open
located In SIskiyou Co., Cal. This tract Is intersected by the Cal. North offices March 1. Both Mr.
Ames and Mr. Emmerich have
Eastern Ry., a branch of the So. Pac. Ry, which, ills understood, will
form part of the new main line from San Francisco to Portland. Timber been successful bond salesmen for a number of years with
estimates: Pine, 774,601,000 ft.; fir, 25,581,000 ft.; tota1,800,182,000 ft. N. W. Harris & Co. and the Harris Trust & Savings Bank.
Also a first lien on two modern saw mills, capacity 75,000,000 ft. annually;
sash, door and box factory with capacity to use 100 million ft. of lumber • -Bertron, Griscom & Jenks, 40 Wall St., N. Y., dealers in
annually; several large storage sheds and warehouses (covered storage
capacity 15,000,000 ft.), water works, electric light plants, machine shops, high-class public service securities, have issued for distribuand entire townsitc of Weed, with dwelling houses. &c., an investment of tion an interesting little folder entitled "Investigation vs.
over $1,250,000, and insured for $1,488,000. (Sprinkler system.)
Direction," which calls attention to a point which is of great
ings except residences.
We appraise the property as follows: 800,182,000 ft. at $3 50 per 1,000, importance to both large and small bond buyers.
$2,800,637; plants and, equipment, &o. (cost over $1,250,000), $900,000;
-Attention is called to the offering by J. H. Adams 41c
total, $3,700,637; taking no account of the value of the 50,000 acres of
land for agricultural and grazing purposes after the timber Is removed.
of Los Angeles Railway first and refunding 30-year 5%
The company Is largely owned by George X. Wendling, President, and Co.
S. 0. Johnson, Vice-President, for 15 to 20 years successful lumbermen. gold bonds. The property was described very fully in our
Bonds dated Oct. 1 1910. par $500 and $1,000 each (0). All or any may last issue on page 395; see also the advertisement in to
be called and paid at any interest periods prior to maturity on 60 days'
notice, at 102 Yi and int. Bonds mature $50,000 on May 1 1911 and semi- day's issue.
annually thereafter. Sinking fund $2 50 per 1,000 ft., log scale, for all
-Hornblower & Weeks, members of the New York Stock
timber out, based on estimates on file in our office and with the trustee.
This deposit should pay off the entire bond issue when about 60% of the Exchange, have issued a descriptive pamphlet regarding
timber has been cut.-V. 91, p. 1778.
the Sealshipt oyster system. A majority of the preferred
Winchester Repeating Arms Co., Now Haven, Conn.-New stock recently issued has been taken by investors.
Officers.-George E. Hodson, formerly First Vice-President
-Arthur
& Co. of Minneapolis, dealers is
and Treasurer, has been elected President to succeed Thomas investment W. Stevens
securities, announce their removal to new offices
G. Bennett, who becomes Consulting Director.
H. Winchester Bennett, 2nd V.-P., succeeds Mr. Hodson as 1st V.-P.: at 317-318-319-320 Plymouth Building. The firm specializes
in local stocks and bonds.
Asst. Treas. Harry S. Leonard becomes 2nd V.-P.
Wright Wire Co., Worcester, Mass.-Pref. Stock Offered.-John L. Williams & Sons of Richmond, Va., have
Wm.S. Felton &
Salem, Mass., early in the year offered issued an interesting circular about the securities of this
7% pref. shares atCo.,
$118 per share. A circular said:
recently completed road, for the construction of which they
Capitalization $250,000 pref. and $250,000 common stock; no bonded
debt. Net earnings year end. Aug. 31 1910, $70,000; pref. dividend, $15,- organized a syndicate early in 1907.
000. Owns three plants In Worcester and Palmer, Mass., covering 5 acres,
-James B. Colgate & Co., 36 Wall St., members of the
and manufacturing wire, wire cloth, poultry netting, wire fencing, wire
rope, patent wire clothes line, picture cord, staples, screens, flower bed N. Y. Stock Exchange, have opened a branch office in Washguards, elevator shafts and enclosures, patent lightning rods, fire-escapes, ington, D. C., at 729 15th St., N. W., near F
St. J. Upshur
office and counter railing, &c. Now running night shifts.
Moorehead is manager.
-Arthur
-C. E. Mitchell & Co., bankers, at 37 Wall St., have
Philbin and Vincent P. Lobdell, who have
been associated with the Rudolph Eleybolie Ch.,Inc.,for the issued a bulletin of selected 5% and 6% bond investments.
past seven years, have formed a co-partnership under the Copy on application.
firm name of Philbin & Lobdell. The new firin will begin
-The firm of D. Arthur Bowmaii & Co. of St. Louis
operations next Monday at .115 Broadway and will do a succeeded on the 15th inst. to the investment banking busigeneral investment bond business.
ness heretofore conducted by D. Arthur Bowman.
THE CHRONICLE
FEB. 18 1911.1
Thi Cto mntercial Pints.
COMMERCIAL EPITOME.
469
• COTTON.
Friday Night, Feb. 17 1911.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening, the total receipts have reached
134,382 bales, against 173,669 bales last week and 184,875
bales the previous week, making the total receipts since
Sept. 1 1910 7,416,446 bales, against 5,879,297 bales for
the same period of 1909-10, showing an increase since Sept.
1 1910 of 1,537,149 bales.
Friday Night, February 17 1911.
Signs are not wanting that American business continues
slowly to improve, one indication of which is the increasing
interest in the iron and steel trade. Other favorable circumstances are the readjustment of grain and cotton prices
to a more normal basis, the fall of beneficial rains in the
winter-wheat and the cotton sections of the Southwest, conReceipts atSat.
Mon. Tues.
Wed. Thurs. Fri.
Total.
tinued easiness of the money markets and the fact thatconservatism is still everywhere observable, whereby the way Galveston
4,879 4,88'7 10.028 7.'743 3.080 7.492 38.100
Arthur_
Port
9,325
___-----_- - 9.325
is made more secure for a return to a better state of things. Texas City, &o
8:944
___
4,348 13,292
LARD on the spot has continued to decline, owing to New Orleans
8,209 '7,4'72 6,632 5,311
5:407 4,569 37.600
Gulfport
_
____
depression in the market for live hogs, due to liberal arrivals,
2,641
2,641
Mobile
156 1,435 1,539
-iflil
843
107 4,279
further depression in the market for lard futures and dulness Pensacola
--___
115
-------------217
of trade. Prime Western 9.85c.; Middle Western 9.75c. Jacksonville. &o.
332
5,359 2,223 3,476 2,508 2,182 2,155 17.903
%c. Refined lard has also been dull and Savannah
and City steam 95
Brunswick
weaker. Continent 10c.; South America 10.75c. and Charleston
-iiii -"i -ii
Georgetown -------___
---25
------___
------__
25_
Brazil in kegs 11.75e. The market here for lard futures Wilmington
155
327
205
220
247
305 1.459
has been nominally easier. At Chicago the speculation has Norfolk
1,081
795
564 1,271
616
495 4,822
N'port News. dco.
been active with the trend of prices downward in the main, New
York
no --------------11
Sii
HS
owing to larger arrivals of live hogs at weaker quotations, Boston
47
352
71
59
111
134
774
Baltimore_
___
____
------_
--____
2.196 2.196
selling for the decline by large packing interests, depression Philadelphia_
hi grain pricesand liquidation. Buying largely to cover shorts.
Totals this week_ 29.402 18.099 22,908 26,310 12.612 25.051 134.382
DAILY CLOSING PRICES OF LARD FUTURES /N NEW YORK.
Sat.
Wed. Thurs. Fri.
Mon. Tues.
The following shows the week s total receipts, the total
March delivery
9.60
9.55
Holt9.55
9.55
9.50
since Sept. 1 1910 and the stocks to-night, compared with
May delivery
9.65
day.
9.65
9.50
9.60
9.55
last year:
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
May delivery
July delivery
Sal.
9.45
9.37;I
Mon.
Hollday.
Tues. Wed.
9.42 X 9.45
9.3734 9.35
Thurs.
9.35
9.30
Fri.
9.40
9.35
1910-11.
Receipts to
I
1909-10.
Stock.
Feb. 17
This Since Sep This Since Sep
PORK on the spot has been dull but firm. Supplies are
Week. 1 1910. Week. 1 1909.
1911.
1910.
light. Mess $23; clear $19 50(022; family $2z 50(024.
Cut meats have been in moderate demand and generally Galveston
38,109 2.460,677 35,852 2,144,398 159,368 112.718
Arthur
9,325 163,503 5,362 107,378
steady. Pickled hams regular, 12 MQ13 e6c.• pickled Port
Texas City. 49o_ _ 13,292 314,161
1,378
32,687
bellies, clear, 13©13qc.; pickled ribs 13©13Ac. Beef New Orleans
___ _ 37,600 1,289,872 15,374 894,895 188,959 186.556
Gulfport
2,641
31,523
2
8,264
4,748
has been dull and steady; supplies light. Mess $14@$14 50; Mobile
1,006
4,279 228,213 5,359 200,092
26,673
26,180
packet $15(015 50; family $16 50(017, and extra India Pensacola
103,312 20,633 119,224
332
mess 829(029 50. Tallow has been quiet• and steady at Jacksonville, dco_
22,426
374
37,708
17,903 1,289,476 6,413 1,175,055
94,849
73.827
nic. for City. Stearines have been dull and easy; oleo Savannah
Brunswick
213,426
199,190
641
4,676
1,252 265,688
891c. and lard 103/
420 192,030
22,256
2c. Butter has been quiet and steady; Charleston
23,711
Georgetown _ _ _ _
25
956
1,073
creamery extras 27@27%c. Cheese has been quiet and Wilmington
_
1,459 380,913 3,559 285,301
8,708
19,033
4,822 513,065 4,441 403,442
steady; State, full cream, colored, Sept., fancy, 15c. Eggs Norfolk
22,331
30,953
N'port News, dco_
3,848
273
14,764
have been weak; Western firsts 16W0)16Y
1c.
New York
373
6,645
3.765 291,716 161,663
774
32,624
OIL.-Linseed has been dull but firmer; City, raw, Ameri- Boston
573
7,855
4,091
6.596
Baltimore
2.196
95,803 1,301
51,359
5,284
8.347
can seed, 95@)96c.; boiled 96©97c.• Calcutta, raw, $1. Philadelphia
315
25
837
7,551
3,097
Cottonseed has been dull and irregular; winter 7@7.75c.;
Total
134,382 7,416,446 101,339 5,879,297 837,175 658,363
summer white 6.90@7.40c.; crude 5.53@5.60c. Cocoanut
-Note.-18,689 bales deducted from receipts at Savannah since Sept. 1, as
has been quiet and steady; Cochin 99@9%c.; Ceylon 9© correction.
93(c. Corn fairly active and steady at 7.15©7.20c. Olive
In order that comparison may be made with other years,
quiet and steady at 90@95c. Lard quiet and steady; prime we give below the totals
at leading ports for six seasons:
$1 05(01 08; No. 1 extra 65@70c. Cod in good demand
and firm; domestic 53()55c.; Newfoundland 57(4)58c.
Receipts at1911.
1910.
1909.
1908. I 1907.
1906. '!
COFFEE on the spot has been quiet and easier. Rio
Galveston ___
38,199
35,852
53,035
55,051
No. 7, 12%@121/0.; Santos No. 4, 127
99,444
57,903
/
3@13c. West India Pt.Arthur,
dec.
22,617
6,740
10,497
2,398
4,789
growths have been quiet and easier. Fair to good Cucuta, New Orleans.. 37,600 15,374 35,890
41,166
71,468
44.107
Mobile
4,279
5,359
7,319
4,101
12%@,13%c. Cost and freight offers from Brazil have lat- Savannah
1,744
4,588
17,903
6,413
11,695
13,205
23,896
10.183
terly been firmer, but this fact has had no effect upon the Brunswick
8,452
762
7,987
1.405
1,277
420
2,285
local spot market. The speculation in futures here has con- Charleston,&o
847
2,971
1,201
1,459
3,559
2,725
5,283
6,702
517
tinued on a large scale and fluctuations have been violent Wilmington
Norfolk
4,822
4,441
5.617
6,009
8,906
3,555
at times. In the main the tendency of prices has been N'port N., &c
273
488
78
1,582
478
6,316
22,908
3,609
5,308
18,105
10,133
downward, owing to further bearish pressure from local Alt others_ ___
traders and cotton operators, heavy foreign selling of the Total this wk.. 134,382 101,339 141,612 134,208 245,649 136,015
distant months and general liquidation.
Vls,ne..0....... 1
V Alit AAA PC 0,
1t1 .41,
1,nal Aga A VAR I119 V win A17 A 1%1 RA1
Closing prices were as follows:
The exports for the week ending this evening reach a total
February 10.160. May
10.290.1 August _ _10.18e.1 November 9.93o.
March_ _.10.16o. June
10.290. Septemb'r 10.080. December 9.880. of 164,579 bales, of which 72,629 were
to Great Britain,
April
10.230. July
10.290. October _ _ 9.98e. January
9.880. 9,406
France and 82,544 to the rest of the Continent.
SUGAR.-Raw has been firmer and more active. Cen- Below to
are the exports for the week and since Sept. 1 1910.
trifugal, 96-degrees test, 3.51c.; muscovado, 89-degrees test,
3.01c.; molasses, 89-degrees test, 3.76e. Refined has been
Week ending Feb. 17 1911. From Sept. 1 1910 to Feb. 17 1911.'
in moderate demand and steady. Granulated 4.60c. Teas
Exported toExported to•
Exports
have been generally firm with trade fairly active.
fromGreat
ContiGreat
ContiPETROLEUM.-Refined has been in light demand and
Britain.Pr'ne sent. Total. Britain. [France. sent. I Total.
steady. Refined barrels 7.40c., bulk 3.90c. and cases 8.90c. Galveston ____ 29.681
17,818 47,499 875,748'275,464 812,2861,963,498
Gasoline has been in fair demand and steady; 86-degrees in Port Arthur_
9.325 9,325
42,0831 48,841
72,4791 163,503
City, &e.
4,348 13,292 205,686 48,323 21,045 275,054
100-gallon drums 183
4c.; drums $8 50 extra. Naphtha has Texas
New Orleans.._ 2,500
12,292 14,792 698.114100,695 278,755 1,075,564
been quiet and steady; 73©76-degrees in 100-gallon drums Mobile
6,176 5,176 59,147 35,603 57,014 151,764
163
4c.; drums $8 50 extra. Spirits of turpentine has been Pensacola
39,382 30,084 34,899 104,365
Gulfport
11,967
11,967
16,483 10,207
95 26,785
quiet and firm at 91@913'c. Rosin has been quiet and Savannah _
8.882
9,229 18,111 300.378105.813 362,529 768,720
Brunswick_ _
9,152
firm; common to good strained $7 25.
9,152 100,077
75,102 175.179
_
9,900 9,900
15,549 9,900 90,551 116,000
TOBACCO.-No really striking features have come to Charleston
Wilmington_ _ 2,000
2,000 126,171 32,015 199,516 352,702
light. Much of the business is of a hand-to-mouth character Norfolk
10,400
2,319
12,719
Newport News
at steady quotations. There is an excellent demand for New
York_ _' 5.297
9,542 14,856 215,522 65,935 140,291 421,748
cigars, but for all that manufacturers' purchases of leaf are Boston
2.518
2,518 89,358
7,888 97,246
Baltimore _ _ _ _
63
2,152 3,229
14,493 6,618 57,627 78,738
on a noticeably conservative scale. The most noteworthy Philadelphia
_
42,713
6,089
48,802
features of the buying are Wisconsin and Connecticut bind- Portland, Me--I
527
527
San Francisco.!
59,186 59,186
ers, for which very steady prices prevail. The Sumatra Seattle
1,762 1,762
37,248 37,248
inscriptions also excite a good deal of interest, and there is Tacoma
8.880
8,880
Portland, Ore_
a growing conviction that the offerings will be of a sort that Pembina
500
500
will inure to the advantage of the buyers of this country. Detroit
2,075
2,075
COPPER has been in small demand and steady. Lake
Total
72,629 9.406 82,544 164.579 2,851,906769,598 2,319,2995,940,803
12%@123
,'c.; electrolytic 123.(©12%c., and casting 12@
125/
8c. Tin has advanced on speculative buying; spots Total 1909-10.. 27.23516,616 82,441 126,292 1,673,103 791,340 1,992,727 4,457,170
44%e. Lead has been quiet and steady at 4.40@43c.
In addition to above exports, our telegrams to-night also,
Spelter has been in fair demand and steady at 5.50@e5.(03. give us the following amounts of cotton on shipboard,!
Iron has been quiet but firm; No. 1 Northern $15 50@$16; cleared, at the ports named. We add similar figures _not
for
No. 2 Southern $15 25@$15 50.
New York.
.A
On Shipboard, Not Cleared forFeb. 17 at-
Other CoastGerGreat
Britain. France. many Foreign wise. I Total.
5,089 12,848
8,848
8,828 21,672 25,807
3,200
Leaving
Stock.
38,658
2,617 86,400
900 4,100
500
500
2,000 13,309
8,499 8,499
5,500
6,000
152,301
72,968
90,749
21,756
13,364
13,832
286,216
25,023
Total 1911_ 47,708 24,426 34,461 39,855 14,516 160,966
Total 1910_ 20,246 7,113 35,098 19,527 16,013 97,997
Total 1909_ 39,454 27,059 47,832 33,534 17,036 164,915
676,209
560,366
652,472
New Orleans__
9,873
Galveston ___ 2476
----Savannah ____
Charleston_
3.559
Mobile
Norfolk
2,806
New York_
4,000
Other ports
d;i85
-666
1:86o
1,000
2,000
f,i6(5
Speculation in cotton for future delivery has been fairly
active at declining prices, largely owing to a fear that the
House bill which passed June 23 1910, prohibiting trading in
cotton futures where no delivery or receipt of the actual cotton is contemplated, and which during the present week has
been under consideration by the United States Senate Committee on Inter-State Commerce, may become a law. A
final report by this committee, whether for or against its
adoption, was expected to-day Friday. There has been
grave apprehension that the report may be favorable to the
passage of the bill, though delegations from the New York
and New Orleans cotton exchanges have been in Washington
to present the case of these bodies against the enactment of
such legislation, which, it is contended, would be a serious
Injury to the cotton business both at home and abroad.
Other factors militating against the market have been continued large receipts, the large world's visible supply, the
unsatisfactory condition of trade both in this country and
in Europe, further reports confirmatory of the plague and
famine in China, evidences that mills both in England and
at the South are disposed to curtail production,and,finally,
the fall in various parts of Texas of beneficial rains, which
appear to have more or less effectually broken the prolonged
drought in that State, even if more rain is desirable. Moreover, there has been very heavy liquidation for local, Southern, Wall Street and Western account, spot markets have
been quiet and Liverpool's spot sales have dwindled at times'
to very small figures. Spinners have naturally been loath to
increase their purchases materially on a declining market,
with the trade upset not only by the recent fall in the price of
over $6 a bale and by the anti-option agitation, but also by
the growing evidences that the next season's acreage at the
South will be very large, possibly the largest- on record.
Then, too, the next-crop options are selling at a discount of,
roughly, 13. to 13'2c. In Texas some cotton has already been
planted. In other parts of the State planting preparations
are going forward rapidly. Texas preparations are unusually advanced, it is stated, for this time of the year, and
some advices state that undeveloped country in that State is
being rapidly populated, that new land is being opened up
and that the newcomers will plant cotton heavily. Silver
has further declined in London, and this fact, together with
the plague in China, militates noticeably against the cotton
industry in Lancashire. On the other hand, Liverpool's
spot sales during the last few days have increased. The
Bank of England's discount rate has been reduced
Buying orders have been received from Liverpool, and American spot interests and spinners have bought here to some extent. The certificated stock at New York has decreased thus
far this month approximately 20,000 bales. Exports from
the ports have been liberal. Bombay receipts light and the
speculative situation, after the drastic liquidation of the last
few weeks, is supposed to be,in a technical,sense somewhat
better than it was recently. Yet the feeling in the world's
cotton markets is plainly unsettled. The cotton trade of this
country, in the estimation if not a few, made a mistake last
fall of a million bales in the shape of an under-estimate of
the size of the crop, and on this mistake put up prices 23c.
per pound. It is the idea of such observers that this mistake
is now in process of correction. However this may be, the
speculation recently has been largely in the nature of
liquidation, and the majority of the trade are simply awaiting developments, the more general expectation being, however, that unless something unforeseen arises, the general
drift of prices must continue to be downward. To-day
prices advanced on some covering and new buying, partly
owing to rumors that the Anti-option Bill may not pass the
Senate. Spot cotton here has been quiet. Middling uplands closed at 14c.. a decline for the week of 35 points.
The rates on and off middling, as established Nov. 16 1910
by the Revision Committee, at which grades other than
middling may be delivered on contract are as follows:
Fair
e 1.50 on
Strict mid. fair_1.30 on
Middling fair
1.10 on
Strict good mid_ _ _0.66 on
Good middling_ 0.44 on
Strict middling__ _0.22 on
Basis, Good mid. tinged.° Even
c
Middling
Strict low. mid_ _0.25 off) Strict mid. tinged..0.16 off
0.60 off Middling tinged __0.25 off
Low middling
1.05 off Strict low.mid.ting_0.60 off
Strict good ord
1.75 oif Low mid. tinged._ _1..50 oft
Good ordinary
Strict g'd mid. tgd _0.35 on Middling staincd__ _0.75 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Feb. 11 to Feb. 17Middling uplands
Sat.
H.
Mon. Tues. Wed. Thurs
H.
14.10
14.00
14.00
Fri.
14.00
NEW YORK QUOTATIONS FOR 32 YEARS.
1911_0
1910
1909
1908
1907
1906
1905
1904
[VOL. TAXXXII.
THE CHRONICLE
40'
14.00
14.80
9.85
11.35
11.05
11.25
7.90
13,50
1903_0
1902
1901
1900
1899
1898
1897
1896
9.80
8.81
9.38
8.88
6.62
6.25
7.06
7.88
1895_c
1894
1893
1892
1891
1890
1889
1888
5.62
7.94
9.12
7.19
9.06
11.31
10.06
10.62
1887_0
1886
1885
1884
1883
1882
1881
1880
9.50
9.06
11.19
10.75
10.25
11.62
11.56
13.19
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
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THE VISIBLE 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 or tonight (Friday), we add the item of exports from the United
States, including in it the exports of Friday only.
February 17Stock at Liverpool
Stock at London
Stock at Manchester
1911.
bales.1,312,000
8,000
109,000
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Continental stocks
1908.
1909.
1910.
988,000 1,382,000 1,112,000
11,0011,
10,000
3,000
76,000
83,000
62,000
1,429,000 1,053,000 1,475,000 1,199,000
14,000
11,000
9,000
4,000
251,000 265,000 447,000 396,000
275,000 452,000 359,000 234,000
4,000
4,000
3,000
2,000
37,000
45,000
9,000
16,000
19,000
76,000
70,000
61,000
19,000
1,000
4,000
2,000
611,000
812,000
943,000
723,000
2,040,000 1,865,000 2,418,000 1,922,000
Total European stocks
112,000
152,000
India cotti5h afloat for Europe_ _ _ 172,000 282,000
721,480
311,505
536,508
627,792
for
Europe
afloat
cotton
Amer.
29,000
39,000
67,000
Egypt Brazil.&c.,atit.for Europe.. 62,000
196,000 310,000 234,000
259,000
Stook In Alexandria, Egypt
566,000
446,000 625,000 465,000
Stock in Bombay, India
837,175 658,363 817,387 703,411
Stook in U. S. ports
518,015
616,803 690,302 704,206
Stock in U. S. Interior towns..
30,780
43,777
20,720
21,788
U. S. exports to-day
5,082,458 4.687,890 5,603,878 4,836,606
Total visible supply
Of the above, totals of American and other descriptions arc as follows:
Americanbales.1,182.000 908,000 1.283,000 983,000
Liverpool stock
60,000
68,000
50,000
91,000
Manchester stock
567.000 758,000 880,000 651,000
Continental stock
721,480
536,508
627,792 311,505
American afloat for Europe
658,363 817,387 703,411
837,175
U. S. port stocks
518,015
616,803 690,302 704,206
U. S. Interior stocks
30,780
43,777
20,720
21,78
U. S. exports to-day
Total American
East Indian, Brazil, dec.Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria. Egypt
Stock in Bombay, India
Total East India, &o
Total American
3,943,558 3,396,890 4,431,878 3,667,686
130,000
8,000
18,000
44,000
172,000
62.000
259,000
446,000
80,000
3,000
12,000
54,000
282,000
39,000
196,000
625,000
99,000
10,000
15,000
54,000
152,000
67,000
310,000
465,000
129,000
11,000
16,000
72,000
112,000
29,000
234,000
566,000
1,139,000 1,291,000 1,172,000 1,169,000
3,943,558 3,396,890 4,431,878 3,667,686
Total visible supply
5,082.558 4,687,890 5,603,878 4,836.686
6.14d.
Middling Upland, Liverpool
5.09d.
8.10d.
7.56d.
11.500.
0.850.
Middling Upland, New York
14.80c.
14.00o.
9 %d.
Egypt, Good Brown, Liverpool
10 1-2d. 15 9-16d. 8 11-16d.
10.75d.
7.75d.
Peruvian, Rough Good, Liverpool 11.30d.
10d.
5.00d. 5 11-16d.
Broach, Fine, Liverpool
7 7-16d. 7 9-16d.
7,d. 5 15-16d. 5 5-16d.
Tinnevelly, Good, Liverpool
7 5-16d.
Continental imports for the past week have been 182,000
bales.
The above figures for 1910 show a decrease from last week
of 140,095 bales, a gain of 394,668 bales over 1910, a decrease of 521,320 bales from 1909, and a gain of 145,872
bales over 1908.
THE CHRONICLE
FEB. 18 1911.1
AT THE INTERIOR TOWNS the movement-that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year-is set out
in detail below.
,9
'=F:gr.21x1
›.>t›t-I;TKtii
:15,
13 m1•CX01,90rAMIgg)
gploo
-3 520'44gagRgm. Vmpg.speg
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. .§"-P?8gt
.. 1.• 80,(2 m
04
'17.,
3
•
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a
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1.r.
:741%
-
p.• • il-
F
'
1
Week ending
Feb. 17.
471
Closing Cluotaticms
. for Middling Cotton onSat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,
Galveston
14%
1431
__-New Orleans_ _ _
14%
Mobile____
14
Savannah
---____
____
1431
____
Charleston
14%
Wilmington_ _ _ _
____
Norfolk__1434
altimore
---14%
14.35
Philadelphia
14.60
____
____
14%
Augusta
Memphis
15
15
____
St. Louts
1431
____
Houston
%
14%14
104+1,. D.,,.1,.
IA 1,
1 A IL
1431
1434
14
1431
____
iiii
144
1431
14
14%
____
ii3i
4
1431
14.25
14%
1431
1431
1431
B
1434
14.25
1431
1431
1434
1431
1.41%
1A I%
14%
1431
14
1431
_ __ _
ii-
1454
14.25
14'%
1431
1431
1431
1A 1A•
g
NEW ORLEANS OPTION MARKET.-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
C °4
iD1S
galW
:,
5 55. p-0
cn
g5
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday.
Feb.11. Feb. 13. Feb. 14. Feb. 15. Feb. 16. Feb. 17.
..1
N
ow.MOve..e.,....1: Om :40.w.
A14.00A.
7i. &IA .1
0 *00040.0*0*M4o0.mum4.NWm 001 W.ICAN*
A 0N*00W0-.4.N04.4000.0.4000000. .1-.1004.000
.
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0 .4. U N.uNO NW0.N.40N0 0.4...44.......0.4au
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o w00000wowovmow000coAmovw0000w000wo
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ovo
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N 000-40.00000000.010000N*000.400-4000N..
Week. I Season.
O
N
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U
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0
0
.
0 ccumAN .0.0.0404P..0.4011,00 U00w.WW0.00..
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.
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0 00,cl 01oum 3010.000y 01 NA.0000,
0 04...0.0•400.
W 0000..400*00.4.0W.C.0N00W00 W000004..N.&uw
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6
.
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1.4I.4..0.01•44
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.4
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Movement to February 17 1911. II Movement to February 18 1910.
Receipts.
Week. I Season.
017,
141.4,Vc.OV07-O,V.7",;000.1.L1.1,
Tg.
140-001
om..30.4wm....ww....o..1A0.
tv co.p.,m00.A.0.......0.
0oow.4.090.
010
,....0000.t.010
,
. . . .. . w
0 w
.
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0 0.
I
1
IN
M
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.
N
.4 * 0
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.
m
NI. 00.00090 07460.0 ..NO0M0.4 00N0
7.1 .
N
00 000014.0.-40.-4UW.4.0N0•10000.0.200 0.042,..N
M 00..1.401-4000*-400.*00U0.0u0.0.4:...40N00...40
N
0
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.
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N 000.20
..0..4...F..***NW
w
...*N.0.44..0U000.0.q.P.0.......M0-.1
WWNWOM.40U004
,
The above totals show that the interior stocks have decreased during the week 8,706 bales and are to-night 73,499
bales less than at the same time last year. The receipts
at all the towns have been 20,216 bales more than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for
the week and since Sept. [in the last two years are as follows:
Feb. 17.
ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
V a Virginia points
Via other routes, &c
----1910-11---Week. Sept. 1.
15,423 393,341
4,786
162,563
25,658
232
100,162
4,849
53,967
2,322
121,085
2,963
128,543
3,976
Total gross overland
34,351
Deduct ShipmentsOverland to N. Y., Boston, &c.._ _ 3,343
Between interior towns
1,278
Inland, &c., from South
681
Total to be edduoted
Leaving total net overland*
----1909-10---Week. Sept. 1.
8,833 297,738
3,598
134,665
879
17,935
1,593
73,848
718
35,890
3,274
93,445
119,041
4,988
983,317
23,883
772,562
135,387
23,408
29,877
1,899
5,987
4,948
63,816
28,934
40,247
5,302
188,672
12,834
132,997
29,049
794,845
11,049
639,565
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 29,049 bales, against 11,049 bales for the week last
year, and that for the season to date the aggregate net overland exhibits an increase over a year ago of 155,080 bales.
1910-11
In Sight and Spinners'
Since
Week.
Takings.
Sept. 1.
134,382 7,416,446
Receipts at ports to Feb. 17'
Net overland to Feb. 17
29,049
794,645
South'n consumption to Feb. 17_ _ 50,000 1,118,000
1909-10
Since
Sept. 1.
Week.
101,339 5,879,297
639,565
11,049
52,000 1,274,000
Total marketed
Interior stooks In excess
164,388
*14,449
213,431
*8,706
9,329,091
566,025
Came Into sgiht during week__ _204,725
Total in sight Feb. 17
9,895.116
North'n spin's takings to Feb. 17_ 61,915
1,625,871
7,792,862
607,139
145,939
8,400,001
27,248
1,593,393
• Decrease during week.
Movement into sight in previous years:
Week
Since Sept. 1-1909-.
-Feb. 19
220,525 1908-09-Feb. 19
1908-Feb. 21
197,582 1907-08-F0b. 21
1907-Feb. 22
218,486 1906-07-Feb. 22
1908-Feb. 23
201,852 1905-06-Feb. 23
Dales.
10,760,068
8,894,145
10,360,209
8,472,743
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
February_ ® _ _ ® ......- ®
- ® -.
Range
Closing
14.07 • 13.84 • 13.75 • 14.00 •
MarchRange
13.96-.15 13.88-.45 13.80-.0 13.95-.10
Closing
14.12-.14 13.89-.90 14.00 -14.06-.07
Aprilflange•
_ @ _ _ 0 ____ @
_ @ _
Closing
14.20-.23 13.94-.98 14.06-.09 14.11-.13
May14.11-.27 13.99-.29 13.88-.1 14.04-.21
Range
Closing
14.27-.28 14.01-.02 14.09-.1 14.18-.19
June-- @ -- ® -- ®
Range
14.16 HOLT- HOLT- 14.30-33 14.05-.07 14.12-.1 14.21-.23
Closing
DAY.
DAY.
July14.21-.37 14.09-.40 14.00-.2 14.14-.31
Range
.
14.37-.38 14.11-.12 14.19-.20 14.28-.29
Closing
August--13.58-.65- @ --- @ Range
Closing
13.83-.90 13.57-.59 13.57 -13.65 OctoberRange
12.85-.01 12.69-.95 12.56-.7 12.63-.75
Closing
12.95-.98 12.69-.70 12.69-.7 12.71-.72
December12.84-.86- @ -12.46-.5 12.57 Range
Closing
12.85-.89 12.59-.61 12.59-.6 12.61-.62
ToneSpot
Dull,
a
Quiet.
a
['lei:lona
Steady. Steady. Steady. Steady.
• Nominal. a Buyers and sellers apart.
WEATHER REPORTS BY TELEGRAPH.-Advices to
us by telegraph from the South this evening indicate that
rain has fallen in most sections during the week, with the
precipitation light or moderate generally. Preparations for
the next crop are stated to be progressing well.
Galveston, Texas.-We have had rain on one day of the
week, to the extent of twenty hundredths of an inch. Maximum thermometer, 68, minimum, 50.
Abilene, Texas.-There has been rain on one day during
the week, the precipitation reaching sixty-four hundredths
of an inch. The thermometer has ranged from 38 to 66.
Palestine Texas.-There has been rain on two days during
the week, the rainfall reaching fifty-seven hundredths of an
inch. The thermometer has ranged from 54 to 66.
San Antonio, Texas.-We have had rain on three days
during the week, the rainfall being nineteen hundredths of
an inch. The thermometer has ranged from 46 to 70.
Taylor, Texas.-We have had rain on three days of the
past week, the rainfall reaching sixty-five hundredths of an
inch. Highest thermometer 68, lowest 42.
New Orleans, Louisiana.-There has been rain the past
week to the extent of thirty-five hundredths of an inch, on
one day. The thermometer has averaged 67.
Shreveport, Louisiana.-We have had rain on three days
during the week, to the extent of forty hundredths of an
inch. The thermometer has ranged from 39 to 80.
Vicksburg, Mississippi.-Rain has fallen on two days of
the week, the rainfall reaching fifteen hundredths of an inch.
The thermometer has ranged from 38 to 81, averaging 61.
Helena, Arkansas.-Farm work is progressing and everything is growing. Weather warmer. The week's rainfall
has been nineteen hundredths of an inch, on two days.
Average thermometer 54.7, highest 78, lowest 36.
Memphis, Tennessee.-We have had rain on three days
during the week, the precipitation being sixty-two hundredths of an inch. The thermometer has averaged 54, the
highest being 79 and the lowest 34.
Selma, Alabama.-There has been rain on four days during
the week, to the extent of eighty hundredths of an inch.
The thermometer has averaged 56, ranging from 40 to 76.
Mobile, Alabama.-Rain has fallen on three days during
the week, the rainfall being fifty-two hundredths of an inch.
The thermonieter has avetaged 62, ranging from 48 to 75.
Montgomery, Alabama.-We have had rain on one day of
the week, the rainfall reaching one inch and sixty-two
hundredths. The thermometer has ranged from 40 to 76,
averaging 56.
Madison, Florida.-Rain has fallen lightly on one day of
the week. The thermometer has ranged from 41 to 67,
averaging 56.
Savannah, Georgia.-We have had rain during the week
to the extent of fifty-nine hundredths of an inch, on two days.
The thermometer has averaged 56, ranging from 42 to 79.
Charlotte, North Carolina.-We have had rain during the
week, the rainfall reaching twenty-nine hundredths of an
inch. Average thermometer 49, highest 67 and lowest 34.
Charleston, South Carolina.-We have had rain on two
days during the week, the precipitation being one inch and
nine hundredths. The thermometer has ranged from 42 to 78.
[VoL. Lxxxxii.
THE CHRONICLE
472
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
1910-11.
Week.
1909-10.
Season.
Week.
Season.
5,222,653
Visible supply Feb. 10
4,754,763
1,495,514
Visible supply Sept. 1
1,931,022
American in sight to Feb. 17___ 204,725 9,895,116 145,959 8,400,001
51.000 1,168,000 119,000 1,746,000
Bombay receipts to Feb. 16_ ___
20,000
153,305
Other India ship'ts to Feb. la__
11,000
121,000
Alexandria receipts to Feb. 15....
14,000
910,000
7,000
628,000
8,000
Other supply to Feb. 15*
182,000
6,000
173,000
Total supply
INDIA COTTON MOVEMENT FROM ALL PORTS.
February 16.
1910-11.
Receipts at-
Since
Week. !Sept. 1.
Since
Week. I Sept. 1.
51,000 1,168,000 119,000 1,746,000 87.0001 1,114.000'
Bombay
Per the Week.
Exports
from-
Since September 1.
Great Conti- Japan
Great
Britain. nest. &China Total. Britain.
Bombay1910-11_
____ 8,000 28,000 36,000
_ 18,000 14.000 32,000
1909-10_
1908-09_ 5,000 53.0001 21,000 79,000
437,820 8,721,377 355,812 8.311,133 CalcuttaTotal takings to Feb. 17
1910-11__
____ 1.000
__-_ 1,000
337,820 6,745,072 230.812 6,457,133
Of which American
1909-10_
1,000
__ 1,000
100,000 1,976,305 125,000 1,854,000
Of which other
1908-09__
1,000 4,000
3.0001
• Embraces receipts in Europe from Brazil, Smyrna, West Indies. &o.
Madras1910-11__
___ 1,000
_ _ 1.000
EUROPEAN COTTON CONSUMPTION TO FEB. 1.
1909-10__
----1908-09__
----- ------have
Mr.
we
Ellison's
cotton figures brought
By cable to-day
All othersdown to Feb. 1. We give also revised totals for last year
1910-11._ 3,000 15.000___ 18.000
1909-10_
____ 10,000
___ 10,000
that comparison may be made. The spinners' takings in
1908-09-4,000
__ 4,000
actual bales and pounds have been as follows:
Total allM.
1910-11__ 3,000 25,000 28,000 56,000
Great Britain. Continent.
Total.
October 1 to February 1,
1909-10__
29,000 14,000 43,000
1901-09._ 5-.000 60,0
22,000 87,000
For 1910-11.
1,598,000
2,165,000
3,763,000
bales
Takings by spinners
ALEXANDRIA RECEIPTS
506
488
494.5
Average weight of bales____Ibs.
808,588,000 1,052,190,000 1,860,778,000
Takings in pounds
Alexandria, Egypt,
For 1909-10.
February 15.
1910-11.
3,166,000
1,975,000
bales
1,191,000
Takings by spinners
502
489
493.9 Receipts (cantars)Average weight of bales____Ibs.
597,782,000
965,875,000
1,563,657,000
Takings in pounds
This week
105,000
Since Sept. 1
6,827,181
5,082,558 5,082,558 4,687,890 4,687,890
ContiJapan
nest. & China. Total.
October 1 to February 1.
Bales of 500 lbs. each.
(000s omitted.)
•
Spinners' stock Oct. 1
'ratings to Feb.11
Supply
Consumption, 17 weeks
•
Spinners' stock Feb. 1 •
Weekly Consumption.
0005 omitted.
/a October
/n November
/n December
/n January
• •
1910-11.
1909-10,
Great 'ContiGreat ContiBritain nent. Total. Britain nent. Total.
972
2,104
1,141
3,721
234; 1,218
1,195 1,932
1,452
3,127
1,786
1,186
3,076
1,785
4,862
2,971
1,429
1,105
3,150
1,785
4,579
2,890
600
1,291
1,891
324
1,365
1,689
169
1,617
60
70
74
74
105
105
105
105
165
175
179
179
85,
65,1
651
55
1
105
105
105
105
170
170
170
170
EGYPTIAN COTTON CROP.-Messrs. L. H. A.Schwartz
& Co. of Boston have the following from Messrs. R. 0.
Lindemann under date of Alexandria, Jan. 13:
We have conducted a careful investigation this past week with the object
of'determining the final size of our crop and give you below the results
obtained. If we had been guided solely by the opinion at competent persons in the interior, we would rind ourselves greatly embarrassed, as, although many seriously affirm that the crop will exceed seven millions,
there are others who predict seven and three-quarters and even more.
However, disregarding exaggerations, one finds that conservative people
for the most part believe that the crop ought to yield seven and one-quarter
million and possibly even a little more. As one will see by the following
statistics, we reached a very similar number by our investigations, which
we have based on the most exact figures possible.
Canters
(About).
On Jan. 9 there were at Upper Egypt in the ginning factories.. _ 120,000
Cotton unsold and cotton in sight
80,000
200,000
These numbers are correct based on the situation Dec. 31, and
are, therefore, a little high, as they do not account for the cotton
shipped from Upper Egypt between Dee. 31 and Jan. 9.
650,000
In Lower Egypt there were on Jan. 9 at the gins
250,000
In sight for the gins or known
200,000
nvisible stock in the villages
/n transit for Alexandria
Soudan cotton
1,300,000
50,000
100,000
Arrivals at Alexandria up to Jan. 9
1,450,000
5,900,000
7,350,000
Probable crop
These figures are very nearly exact and are based on facts with the exception of the "Invisible stock in the villages" of Lower Egypt, which we
have been obliged to estimate. We believe, however, that this number,
also, is not far from correct.
There is talk in the villages of the probability of more cotton remaining
there in stock at the end of this season than is customary, the planters being
in good financial condition and, therefore, in a better way to hold their
cotton. This fact, if confirmed, naturally cannot modify the actual result
of the crop, but will, however, exercise a certain influence on the arrival
figures at Alexandria, on which our statistics of the crop are based.
In all events we think to be a little nearer the truth It we estimate our
rop at about seven and one-quarter million.
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Futures
Market
Closed.
HOLIDAY.
HOLIDAY.
Quiet 25 pts deo_ _ _ _ Very steady _
Quiet 10 pts dec.. ___ Easy
Steady
Quiet
Steady
Quiet
Total
Sales of Spot and Contract.
Con- ConSpot. sum'n. tract.
600
1,000
400
2,0001
200
Total.
200
600
1,000
400
200 2,200
17,000 406,000 273,000 696.000
37,000 453.000 397,000 987,000
16,000 290,000 277,000 583,000
2,000
2,000
4,000
9,000
16,000
19,000
6,000
14,000
23,000
17,006
32,000
46,000
8,000
4,000
3,000
16,000
8.000
14,000
5
1,000
2,000
24,005
13,000
19,000
25,000
16,000
8,000
86,000
59,000
76,000
1,300
1,000
7,000
112,300
76,000
91,000
52,000 517,000 280,305 849,305.
59,000 536,000 413,000 1,008,000
31,000 399,000 309,000 739,000.
AND SHIPMENTS.
1909-10.
1908-09.
50,000
4,707,443
180,000
5,726,636
This Since
This Since
This Since
Week. Sept. I. Week. Sept. 1. Week. Sept. I.
Exports (bales)To Liverpool
To Manchester
To Continent
To America
2,250 159,682
9,000 163,859
12,250 260,847
200 81,433
4,250 112,022 1,000 122,551
7,000 97,234 5,000 132,159
5,000 211,147 13,250 203,543
400 50,175
200 42,396
25,500 665,821 16,650 470.578 19,450 500.64a
Total exports
oantar-Is 99 lbs.
- Egyptian bales weigh about 750 lbs.
MANCHESTER MARKET.-Our report received by cable
to-night from Manchester states that the market continues
quiet for both yarns and shirtings. Spinners are considered
to hold large stocks of yarns. We give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison.
1911.
d.
Jan.
6 11)4
13 1134
20 1134
27 1134
Feb.
3 11
10 1034
17 1034
1910.
834 lbs. Shirt- 'Corn
Inas, common Mid.
to finest.
Uprs
32s Cop
Twist.
d.
GAO COVID
According to the above, the average weight of the deliveries
in Great Britain is 506 lbs. per bale this season, against 502
lbs. during the same time last season. The Continental deliv
eries average 486 lbs., against 489 lbs. last year, and for the
whole of Europe the deliveries average 494.5 lbs. per bale,
against 493.9 lbs. last season. Our dispatch also gives the full
movement for this year and last year in bales of 500 lbs.
Saturday.. _
Monday__ _
Tuesday _ _
Wednesday
Thursday _
Friday_ _ _ _
wale.
Since
Sept. 1.
5,520,378 13,803,935 5,043,702 12,999,023
DeductVisible supply Feb. 17
•
1908-09.
1909-10.
12)4 5
12)4 5
1214 5
1234 5
d.
s. d.
9 011 3
9 ©11 3
9 011 3
9 @II 3
1234 5 9 ©11 3
11% 5 8 011 1
1134 5 7A©11 0
32s Cop
Twist.
d. d.
8.08
8.07
8.05
8.02
1034 ©
10 5-160
10
48
1014 48
834 lbs. Shirt- Corn
Otos, common Mid.
to finest.
Uprs
d. s. d.
11345
11 5
10345
1034 5
ff. d.1 d..
6 @100
5 ©9 1034
4 09 9
4 @9 9 ,
8.18
7.84
7.58
7.80
7.88 ION (d) 1134 5 5 489 1034 7.91
7.77 1034 48 1134 5 5 489 1034 8.15
7.6107-160 1134 5 5 09 1034 8.18
-As shown on a previous page, the
SHIPPING NEWS.
exports of cotton from the United States the past week have
reached 164,579 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-Feb. 10-Baltic, 1,976 upland, 230
2,206
Sea Island
913
To Hull-Feb. 10-Toronto, 913
2,171
To London-Minnevraska, 2,178
17
To Marseilles-Feb. 10-Madonna,17
3,471
To Bremen-Feb. 15-Boon, 3,471
200
To Hamburg -Feb. 9-Pennsylvania, 200
79
To P.otterdam-Feb. 15-Campanello, 79
411
To Antwerp-Feb. 10-Kroonland, 411
1,800
To Libau-Feb. 11-Estonia, 1,800
2,050
To Genoa Feb. 14-Cincinnati, 1,400; Florida, 650
To Naples-Feb. 10-Italia, 50__ _Feb. 14-Cincinnati, 100;
250
Florida, 100
331
To Leghorn-Feb. 10-Italia, 331
950
To Japan-Feb. 14-Dacre Castle, 950
GALVESTON-To Liverpool-Feb. 10-Indian, 17,799......Feb. 14
29,681
Riojano, 11,882
5,997
To Bremen-Feb. 10-Cassell, 5,997
4,653
To Barcelona-Feb. 11-Georgia, 4,653
3,136
To Venice-Feb. 11-Georgia, 3,136
4,032
To Trieste-Feb. 11-Georgia, 4,032
PORT ARTHUR-To Bremen-Feb, 11-George Pyman, 9,325_ 9,325
8,944
TEXAS CITY-To Havre-Feb. 15-Stanfleid, 8,944
4,348
To Bremen-Feb. 15-Inkule, 4,348
NEW ORLEANS-To Belfast-Feb. 16-Howth Head, 2,500_ _ _ _ 25,00
To Hamburg-Feb. 13-Atlantic, 2,531 ___Feb. 16-Celtic
7,448
King, 3,517___Domira, 1,400
1,269
To Antwerp-Feb. 17-Canova, 1.269
300
To Barcelona-Feb. 10-Alberta, 300
2,350
To Trieste-Feb. 10-Alberta, 2,350
575
To Venice-Feb. 10-Alberta, 575
350
To Fiume-Feb. 10-Alberta, 350
6,176
MOBILE-To Bremen-Feb. 14-Sallust, 6,176
11,967
GULFPORT-To Liverpool-Feb. 17-Orm ston, 11,967
SAVANNAH-To Liverpool-Feb. 10-Snowden Range, 1,449_
8,527
Feb. 15-Mohaesfield, 7,078
355
To Manchester-Feb. 10-Snowden Range. 355
9,229
To Bremen Feb. 14-Anglo-Australian, 9,229
9,152
BRUNSWICK-To Liverpool-Feb. 10-Mystic, 9,152
3,223
To Bremen-Feb. 16-Anglo-Australian, 3,223
9,900
CHARLESTON-To Bremen-Feb. 10-Muirfleid, 9,900
2,000
WILMINGTON-To Liverpool-Feb. 17-Potomac, 2,000
BOSTON-To Liverpool-Feb. 8-Cestrian, 393__ _Feb. 14-Saga2,511
more, 1,207; Winifredian, 918
632
BALTIMORE-To Liverpool-Feb. 11-Vedamore, 632
445
-Feb.
11-Philadelphian,
445
Havre
To
1,602
To Bremen-Feb. 10-Brandenburg, 1,602_ ..
500
To Copenhagen-Feb. 7-Louisiana, 500
50
To Antwerp-Feb. 11-Philadelphian, 50
1,762
SEATTLE-To Japan-Feb. 14-Inaba Marts, 1,762
•
164,979
Total
THE CHRONICLE
" FEB. 18 1911.3
473
of wheat in the United States is some 17,000,000 bushels
larger than that of a year ago. The European visible supply
is 108,888,000 bushels, or 23,000,000 bushels larger than
at this time in 1910.
One statement of the
world's available supply makes the total 182,570,000 bushels,
against
1908-09.
139,000,000 bushels at this time last year. The
Exports
1909-10.
1910-.11
' from
Southwest has been selling at Chicago. Beneficial rains
• United States January. 7 Months. January. 7 Months. January. ? Months. have
fallen in the Southwest, and there are those who look
Quantities.
for larger receipts on this account, if for no other reason,
Wheat_bush. 2,769,151 17,026,167 1,411,781 37,325,636 3,471,442 57,962,610 seeing that
they indicate a better outlook for the crop and a
,Flour __bbis,
932,388 5,828;145 786,787 6,334,633 922.421 7,294,613
lessened incentive to hold wheat in the country districts.
90,788.368
7,622.336
65,831,484
Wheatsbush. 6,964,897 43.252,810 4,952,322
Meantime export trade continues in abeyance. Foreign
•Com -bush. 9,752.146 24.951.120 6,047,900 18.055,424 6,171,444 18,722,493
markets have declined. Of course rallies have occurred
13,793,780109,710,861
83,886,908
Total bush. 16,717,043 68,203,939 11,000,222
from time to time through an overdoing of the short side, if
$$
$
Values.
for no other reason. At times, too, the pressure of liquidaWhe,at&flour 6,896.301 44,841,261 5,651,975 71,747,290 7,887,529 92,849,235
13,453,018 tion
'Corn & meat 5,335,088 14,790.241 4,272,423 13,109,446 4,255,380
has subsided. Late in the week foreign markets im941,823
29,912
153,529
132
Rye
J
920.357 proved somewhat, and there were even rumors of export
753,787 326.616
792,744 157,904
109.045
Oats & meal
532,744 4,538.980 426,483 2,782.566 400.540 4,133,673 buying on this side of the water,though,as usual,they lacked
Barley
Breadstuffs 12,873,178 64,963,366 10,508,785 88.546,618 12,899,977112,298,106 full confirmation. Also reports of strained relations between
Provisions _ 10,485,632 65.389,135 10.360,691 67.167.803 13,579,756 85.274,721 Russia and China have caused more or less covering of short
Cattle&hogs. 1,377,405 6.190.257 1,490,054 9,093,220 1,731,219 11,205,667
77,349,268 443,154,13037.672,378 323,250,52052,517,999293,826,907 engagements as well as some buying for a temporary rise.
Cotton
Petrorm.&c., 6.047.145 50,386,455 6,429,244 56,817,833 7,906,717 60,396,835 On Thursday Liverpool, Berlin and Buenos Ayres quotationi
[ Total value 108,132,628630,083,33366,461,152544,875,99488,635,66 563,002,236 all advanced, partly on the Russo-Chinese war rumors.
Moreover, the stock at Minneapolis during the last five days
has decreased 200,000 bushels,
LIVERPOOL.-By cable from Liverpool we have the fol- But any advance at the present which is something new.
time, in
lowing statement of the week's sales, stocks, &c,at that port: many, can prove but temporary. World'sthe estimation of
stocks are large
Feb.
17.
10.
Feb.
3.
27.
Feb.
Jan.
44,000 and crop prospects good. Argentina shipments for the week
57,000
39,000
bales.. 60.000
Sales of the week
5,000 are estimated at 3,600,000 bushels, or 1,400,000 more than in
4,000
2,000
1,000
Of which speculators took....
2,000
14,000
1,000
1,000
Of which exporters took....
41,00.) the previous week, and about 1,200,000 more than for the
54,000
55,000
36,000
Sales, American
12,000 same week last year. To-day prices declined on disappoint10,000
3,000
26,000
Actual export
75,000
108,000
99,000
88,000
Forwarded
1,221,000 1,174,000 1,286.000 1,312,000 ing Liverpool advices, favorable crop news from the SouthTotal stock-Estimated
1,083,000 1,057,000 1,151,000 1,182,000 west, where further rains occurred, bear hammering and long
Of which American
110,000 liquidation.
65.000
213.000
Total imports of the week_ _ _ _ 178,000
98,000
141,000
44,000
Of whtok American
183,000
EXPORTS OF BREADSTUFFS, PROVISIONS, COT'TON AND PETROLEUM.-The exports of these articles
during the month of January and the seven months for the
past three years have been as follows:
Amount afloat
Of which. American
376.000
317,000
414.000
352.000
282,000
239,000
271,000
214,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Market, 1
12:16 }
P. M. 1
Saturday.
Quiet.
Monday.
Dull and
easter,
Tuesday. Wednesday. Thursday.
Dull.
Quiet,
Fair
business
doing.
Friday.
Fair
business
doing.
7.56
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.•
• Sat. Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter
9534 Holt- 95
1434 9554 9434
May delivery in elevator
98 % day 98 34 9734 9834 9734
97%
97% 1634 97
July delivery in elevator
96
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.•
Sat. Mon. Tues. Wed. Thurs. Fri.
May delivery in elevator
9234 Hon- 9234 0134 9154 9034
July delivery in elevator
9134 day 91
9034 9054 89 f4
September delivery in elevator..
9034 89% 90
88%
9034
Indian corn future in the local market have been extremely
dull. At the West the speculation has been fairly active.
Prices
have not shown any sharp fluctuations. It is notice7,000
5,000
5,000
6,000
10,000
10,000
Sales
able, however, that on all recessions buying of a good
300
300
500
1,000
4,000
2,500
Spec.&exp.
character appears. Stocks in the interior are believed to
Easy at Steady at Steady at Irreg. at Steady at
Futures.
Easy at
be very heavy, but the supply in the principal, speculative
Market 1 6®8 pts. 234@434 2Q4 pts. 709 pts. 11®14 pts. 4340634
decline.
advance. advance, decline. advance.
markets increases slowly, despite rather liberal receipts.
opened if decline,
Of late the export demand has been more active. Argentina
Market, 1 Easy at Steady at Easy at Very st'y at Wry st'y at Quiet at
advices have continued bullish in the main and the ship4
i3408 pts 508}4 pts. 1(4334 pts. 334@934 1334016 3@6 H
}
Ann.nm
Ann.na
Annlinn
rtta nal,
nt4 dap
ritA :My
.
'If
I
ments from that country to Europe have been on a small
The prices for futures at Liverpool for each day are given scale. To-day prices advanced early on unsettled weather,
below. Prices are on the basis of upland, good ordinary reports of a good cash demand, commission-house buying
and covering of shorts. Later a decline occurred on the
clause, unless otherwise stated.
weakness in wheat and liquidation.
The price are given in pence and 100185. Thus, 7 42 means 7 42-100d.
Mid. Upl'
•
7.66
•
7.53
7.55
7.59
7.47
•
Wed,
Thurs.
Fri.
Sat.
Tues.
Mon.
Feb. 11
to
Feb. 17. 1234 1234 1234 4 1234 4 1234 4 1234 4 123( 4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
February_ _..__7
Feb.-Mch. ___7
Mch.-Apr. ____ 7
Apr.-May. __ 7
May-June .__7
June-July ____ 7
July-Aug_ ......_7
Aug.-Sep.. .,___7
Sept.-Oct. ____ 7
Oct.-Nov.. ____ 6
Nov -Dec. ___0
Dec.-Jan _..__ 6
A
Jan.-Feb
42 ____ 34 H 33 31 373440 25 2634 33% 33
42 _..__ 34H 33 31 3734 40 25 2634 33% 33
43 •____ 35 34 32 38 H 41 26 27 34 3334
44 H ____ 3634 3534 3334 40 4234 2734 28 35 3434
4534 ____ 3734 36;4 35 413444 29 2934 36H 35%
4434 __. $6 H 3534 343441 43% 29 29 3634 3534
44 ____ 35 H 35 33 H 40% 43 28 28 H 35 34
28 _.,._2O 193418 25 26 12 H 11 H 18 1634
0234 ____ 95H 93 94% 99 98 83 82 H 87% 86
88 % ......_ 82 80 80 H 86 85 70 69 H 74 7234
81 % ____ 78% 74 74 H 80 78 H 63% 62 H 67 66
81 ,._.,_76 733474 793478 63 62 68346534
78 73“74 1014 78 63 62 fin ft!S
21
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
Cash corn
52
Holt- 52
52
51% 51%
May delivery in elevator
5634 day 5834 56
5634 56%
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Frt.
May delivery in elevator
4834 Holl- 4934 4834 4874 48 34
July delivery in elevator
4934 day 5034 4934 50
49 %
September delivery in elevator_ _ _ _ 50%
51 34 5034 51
50%
Oats for future delivery in the Western market have
fluctuated within narrow limits, in company with corn.
Elevator interests have continued to act prominently in the
selling. There has been scattered liquidation at times.
On the other hand, commission house buying has been
noticeable on the soft spots, as there are some who consider
that prices are low enough. Supplies in the country, however, are believed to be heavy, as feeding requirements have
BREADSTUFFS.
been smaller than usual this winter, while stocks in elevators
at Chicago are large. To-day prices advanced early on light
Friday, Feb. 17 1911.
Prices for wheat flour have declined of late, owing to fur- offerings and coverings of shorts, but reacted later on
selling by cash interests and depression in wheat.
ther depression in wheat quotations. Moreover, trade in all
DAILY CLOSING PRICES OF OATS INI1NEW YORK.
country
has
continued
the
extremely
dull
and
sections of
Sat. Mon. Tues. Wed. Thurs. Fri.
3534 Boll- 3534 36 '36
quotations in various important milling centres have weak- Standards
36
$6
No. 2 white
day 36
3634 3634 3634
ened. Stocks are generally reported heavy, and shipping
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
directions on old contracts have continued to be received
Sat. Mon, Tues. Wed. Thurs. Fri.
31% Holt- 31 54 3154 3134 3134
very slowly. Mills in some sections have closed down. May delivery in elevator
July delivery in elevator
31% day 31 34 3154 3154 31 %
The steady fall in wheat prices has naturally made con- September delivery in elevator..
31 %
31% 3134 3134 31
sumers of flour more disposed than ever to adhere to a waitThe following are closing quotations:
FLOUR.
ing policy. Rye flour and corn meal have been quiet and
Winter, low grades...._ _22 75 $3 25 Kansas straights, sack _ $440 $465
steady.
Winter patents
4 75 4 85 Kansas clears, -acks___ 4 00
4 40
straights
4 10 4 20 City patents
5 70
6 50
Wheat shows a net decline for the week, owing to large Winter
Winter clears
3 50 3 75 Rye flour
4 00
4 40
Spring patents
5 30 Graham flour
5 05
3 90
4 00
world's stocks, dulness of cash wheat, the sluggishness of Spriug
5 00 Corn meal, kiln_dried_
straights
4 75
2 65
4 15 440
•
the flour trade, hopes of early and favorable action on the Spring clears
GRAIN
question of reciprocity with Canada, and depression in the
Wheat,
per
bushel
per
bushelCorn,
•
•
Cents.
cash markets at Minneapolis and elsewhere in the NorthN.Spring, No. 1
I1 0734
No. 2 new
f.o.b.
51 %
N. Spring, No. 2
No. 2 mixed___Lo.b. Noming
1 05 34
west, and also in the Southwest, as well as at Winnipeg.
winter.
Red
No.
I
No. 2 white
9434
f.o.b. Nominal
Reports, too, from the winter-wheat belt indicate that the
Hard winter. No.
1 0034 Rye, per bushelNo. 2 Western
Cents.
prospects for the crop are improving. Flour quotations have Oats, per bushel. new84 •
State and Pennsylvania
$6
85 •
been reduced by a prominent company of the Northwest, •• Standards
No. 2 white
88Q1 04
3634 Bariey-Malt!ng
where business in flour for one cause of another has been • No. 3 white
Feeding. 0.1 .. N. Y.- Nominal
3554
apparently more or less demoralized. The visible supply z_ For other tables usuaGy given here, see van 473...n.1 .3.11fiAtiatilfJ•
[VOL. Lxxx)pi.
THE CHRONICLE
474
• Total
5,499
33,409
3,047
CO
4.0
CO CO CO er .r
Cl re 04 00
00
4-4
00
004
.
40 00
eeer.03N
.1004,
10
oc,
0
'n o.
74 a
1
15
V
40,,
E
g
74
0
%)
.3
2
H
,10655
.
42
'
z,g
g8.6.)7.11
• • ,..4
A
nfl
11
18,843
The value of these New York exports since Jan. 1 has
been $2,629,761 in 1911, against $1,451,313 in 1910.
4h000
0100N
4-40 14400
.03
ki
>I
-
44
Total marketed
---1010--Since
Since
Week. Jan. 1.
Jan. 1.
11
105
86
43
135
86
35
__
4,603
___
6
2,787
5,2561,082
--i .
435
663
360
4,659
3,288
10
207
154
286
2,390
1,015
7,316
834
6,823
5,584
1,421
5,447
1011
• New York to Feb. 11Week.
Great Britain
10
Other Europe__ _
China
India
2,60-0
.
Arabia
996
Africa
26
West Indies
606
Mexico
36
223
Central America
758
South America
836
Other countries
24,956
4.198,759
20,293.132
21.162,797
21.148,298
Brown and bleached cottons remained dull, buyers being
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and disposed to proceed cautiously. Drills and denims also were
quiet. Wash goods for spring continued active. Demand
seaboard ports Feb. 11 1911, was as follows:
for staple ginghams showed no abatement, retailers purchasAMERICAN GRAIN STOCKS.
Barley, ing steadily for prompt and near-by shipment, while the
Corn,
Oats,
Rye,
1Vheat,
bush. new medium-priced fall lines received good attention; jobbush.
bush.
bush.
bush.
40,000
1,011,000 1,426,000
1,000
1,981,000
New York
bers' stocks have been further reduced and mills are reported
24,000
afloat
"
26,000 well sold ahead on staples. Prints were in good request,
375.000
645,000
Boston
1,084.000
355,000
64,000
Philadelphia
/4,000 with more interest shown in full-count staples. Tickings
381,000
1,914,000
265.000
88,000
Baltimore
3,000
955,000
138.000
New Orleans
ruled firm and are well under order in leading mills. Export
201,000
67,000
Galveston
114,000 trade showed no improvement; some slight concessions were
1,606,000
13,000
414,000
78,000
Buffalo
100,000 offered on denims, duck and certain prints, without, howafloat
3,925,000
311,000
"
1,323,000
364,000
143,000
2,000
Toledo
were apparently disposed
3,000 ever, stimulating business; buyers
331,000
Detroit
29,000
345,000
136,000
afloat
100,000
"
to await more settled conditions in the staple. The print
5,081,000
Chicago
1,267,000 6,818,000
2,000
cloth market displayed little life; there were further moderate
afloat
488,000
Milwaukee
140.000
416,000
532,000
16,000
108,000 sales of spot goods at low prices, but trading for forward
4,942,000
Duluth
363,000
430,000 delivery was of limited proportions; sozne orders for. March,
1,021,000
8.000
15,663,000
Minneapolis
387,000
533,000
2,784,000
131,000
1,720,000
371,000
St. Louis
420,000
6,000
56,000 April and May shipment are said to have been declined. be4,695,000
733,000
155,000
Kansas City
cause of prospective curtailment; gray goods, 383 -inch
8,000
129,000
Peoria
1,604,000
standard, remain quotably unchanged.
279,000
413,000
67,000
Indianapolis
WOOLEN GOODS.-In the men's wear division a fair
361.000 1,424,000
Total Feb. 11 1911__43,133,000 10,965,000 16.298,000
390,000 1,544,000 business in the aggregate was done, but demand was more
Total Feb. 4 1911_43,251.000 9,146,000 16,415,000
1910_25,819,000
10,528,000 8.757,000
802,000 2,810,000 or less irregular. Practically all lines of fancy worsted suitTotal Feb. 12
763,000 3,911,000
Total Feb. 13 1909-41,472,000 6.565,000 9,607.000
ings for the heavy-weight season have been opened, and
CANADIAN GRAIN STOCKS.
leading producers of popular-priced fabrics of this description
Wheal,
Oats,
Rye,
Barley,
Corn,
bush.
bush. have booked a substantial yardage, larger, in fact, than in
bush.
bush.
bush.
15,000
880,000
82,000 the corresponding period a year ago; an increased business
280,000
Montreal
3,050,000
Fort William
was reported by small mills which produce fabrics of well318,000
" afloat
3,157,000
Port Arthur
known quality. Clothing manufacturers continued to op3,097,000
Other Canadian
erate steadily on fancy woolen overcoatings; demand has
15,000
880,000
82,000 been unusually heavy and indications point to a larger disTotal Feb. 11 1911._ 9,902,000
10,000
952,000
Total Feb. 4 1911_ _10,105,000
82,000 tribution than in
many seasons past; the call for prompt
27,000
305,000
Total Feb. 12 1910_ _11,084,000
52,000
28,000
Total Feb. 13 1909._ 6,491,000
217,000
86,000 deliveries of sample pieces is very active and is being met
SUMMARY.
with difficulty in some quarters. A few mills whose overWheat,
Corn,
Barley, coatings failed to move satisfactorily have reduced their
Oats,
Rye,
bush,
bush.
bush.
bush.
bush.
American
43,133,000 10,965,000 16,298,000
361,000 1,424,000 opening prices, but instead of quickening the demand this
Canadian
9,902.000
15,000
82,090 action seems to have made buyers question the stability of
880,000
Total Feb. 11 1911..53,035.000 10,980,000 17,178,000
361.000 1,506,000 values on .these particular lines. Heavy-weight fancy
Total Feb. 4 1911...53,356,000 9,156,000 17,367,000
390,000 1,626,000 woolen suitings were comparatively quiet, except in a few
' Total Feb. 12 1910..36,903,000 10,555,000 9,062,000
802,000 2,862,000 selling agencies. A noteworthy feature is the demand for
Total Feb. 13 1909..47,963,000 6,593,000 9,824,000
763,000 3,997,000
men's wear serges of fine quality for women's garments.
The dress goods market was moderately active, with keen
THE DRY GODS TRADE
competition for business in staple fabrics. Additional fall
New York, Friday Night, Feb. 17 1911.
lines suitable for the retail and cutting-up trades were opened
The further decline in raw cotton, particularly futures, at attractive prices, but have not yet begun to move in large
caused a material falling off in business in the primary cotton volume. The special sale of dress goods by the II. B. Clafiin
goods market for near-by and forward delivery. Buyers Co. attracted buyers from different sections of the country;
held off in the belief that a lower-priced staple presages the offerings were readily absorbed; and the freedom with
more favorable terms on goods in the future. Spot cotton, which retailers purchased reflected an urgent need of goods.
however, has not declined in proportion to the slump in
FOREIGN DRY GOODS.-Woolen and worsteds of forspeculative markets, and mills thus far have not been able, eign manufacture were in fair demand for spring and
fall
therefore, to secure supplies at or even near 14c. a pound; delivery. All descriptions of linens ruled strong, with a,
in fact, many manufacturers have purchased high-priced good business done on dress linens for spring and housekeepstaple and have offered goods at prices which show little, if ing lines for fall. Burlaps fairly active,firm and unchanged.
any, profit in order to keep at least some portion of their
machinery running. Under the circumstances, first hands Importations and Warehouse Withdrawals of Dry Goods.
er 00 CD ,e c0 0
oo
,40140h0 NO
05(0
4-4 00,401
0 e.0 02 CD
remain firm in their views on contracts, and are likely to conCO
CO
CD CO
COO
Cl CI
IT1 CD
3
SS!
C
4::
.
, 01
tinue so unless mills are able to secure raw material at a figure 00
4000 oo
C:00 r:0
;
4
,
I
vi000,.0 e:
r: T4
02 000 04 403003
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CO
CO o2
C'Zi
well below the present. Some business was put through .-.
.-1,
00 er 0 re 4 010
e.,...0
.n. CS
NO
'50. 4-7
400.1.44
in the primary market, but it consisted of small lots which A ...
ON
T4
1.4
4.1
1-4
gave little encouragement to mills, and further curtailment
400
0 o0 00 uD c. 010 CO
02 00
'5 01 0. 00 Cl 0000
by manufacturers was noted during the week. Trade with
oD
40 0 00 00 05 00 C4
CO CO re re er co
CD 0 0, 00 re
0000
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jobbers was more active, especially in spring goods, owing CO tZ 4-4
.
01000050
4 N:
.
;c0
.0
r:
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4
a 04et: ow
4.4 "100 1-1
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to the presence of numerous out-of-town retailers who purchased on a somewhat larger and broader scale than for some
10 .4 04 CD
M 0 V 0 Tr
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onr.on
h0 00
time past; they appeared to be more concerned about getting '4
403
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nne,ero
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OV
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goods promptly than they were over the decline in the staple, '
00
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:ct
.
c‘i w co' 000 003
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and the further requests for immediate shipments testified "e-os
r.C11-4,4
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to small supplies in merchants' hands. Their purchases
t4
..„
were as a rule limited to well-defined needs, with little dis- ,ot•• • CO 000 00
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00 00 VD 04 14 0005
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TV TM C2 00 r. 00
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position shown to anticipate distant requirements. Cotton
00
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0100.40510 SS CO
.S1) co
z kl, c o1'5
Cl co
01 '5 CO
C1,4 0000 CO
yarns were quiet and easier, some spinners granting con- •
cessions to secure orders for quick delivery. In underwear <4
C4
NO
no
and hosiery some sellers have secured a substantial amount 41 •
Cl3
00 er
l'.;
:1: n 2 r4
co.r
'000
'I"'
`
c° q"'.
"
"3
of business on spring and fall lines, but others have not done P1
004
004
tgg: 110
nu,
glv
00
well; complaints of unsatisfactory prices are still heard.
00
1
7,
°
..t1
°°
e40500100 00
In silk goods the call for foulards and messalines increased, W
003000500
000
1-4
W
and leading mills are said to be taxed to meet the demand; E. c3
• er 4 CD 02 00
100010h
0 :4 4-4 44 00 000 02
exceptionally close prices are being named by certain promi- g '0
010005000 00
• 0 t. 00 00 CO 40 03
00 0.0 02 04.1 00 01
.tore..o
t
ti i 0
00
t"
CO..
0000 t. CA
WW
0500 02
nent manufacturers on various silks in order to secure a O
°
111
..;...",s
00
vi
WI T;,4 C400 000 Cl
$1,
4-410,40r
.", 1444.
01 ON
(03 erh 01
substantial forward business, and smaller concerns are finding z co
it difficult to compete. Men's wear fabrics and dress goods 2
Cl r. 01 u,
c) co
00 442 OD .0
te CO 00
were fairly active.
'I•
E.
Tr v, et, 00
C- CD 4-4 CA 0D 043
CO
4-4 CO C) 04 er
erCO
Tr
.
•
c4IS
DOMESTIC COTTON GOODS.-The exports of cotton
1.F....-1,
^4vecooc74oO 00
co re 0 00 er .trn
NO
00 03 r4 er co 0000
goods from this port for the week ending Feb. 11 were 5,499 0,
01.40
r4 r4 .0 er 00
(0 03
,
4 1 r-1 1-1
t,
4-44-4
packages, valued at $379,114, their destination being to the
00
003
00
points specified in the table below:
0.0000000 003
er 0 T4 r. 10 4-40
hOMM0
0
a
0
4
FEB. 18 1911.1
STATE MO CITY
DEfilliMPENT,
•
MUNICIPAL BOND SALES IN JANUARY.
We present herewith our detailed list of the municipal bond
issues put out during the month of January which the
crowded condition of our columns prevented our publishing
at the usual time.
The review of the month's sales was given on page 405 of
the "Chronicle" of February 11. Since then several belated
January returns have been received, changing the total for
the month to $80,180,767. The number of municipalities
issuing bonds was 294 and the number of separate issues 416.
JANUARY BOND SALES.
Rare. Maturity. Amount. Price.
Name.
Page.
94
$100,000
406_ _Ada, Okla
132__Amesbury, Mass
4
1912-1919
16,000 101.279
273__Anderson County Corn. S. D.
No. 21, Tex
2,500 100
5
41920-1930
203...Artesia Sch. Dist., Cal
5
20,000 102.78
203__Ashtabula Sch. Dist.
io
434 1912-1931
10,000 103.53
407_ _Aurora Sch. Dist, Minnll
4
45,000 100
1917-1925
'
407__Beatrice, Neb
434 41915-1930
70.000 100
335__Bee County, Tex
434 41920-1950
75,000 100
75,300 104.069
335__Bellefontaine, Ohio
5
1911-1921
203__Beloit Un.S. D. No. 2, Wis
12,000 100.75
434 1912-1917
335__Benton County, Ind
6
52,316 102.028
1912-1921
273__Big Horn County S. D. No. 3,
Wyo
10,500 105.238
6
1936
407__Bird's Drainage District, III
1913-1917
30,000
6
478__Boston, Ga
12,000
1930
478 __Boston, Mass, (4 issues)
334 1912-1919
213,0001z100
478__Boston, Mass. (2 issues)
4
192,0001
1912-1931
335_ _Bowling Green, Ky
4
20,000
478 _ _Bridgewater, N Y
434
1,600 100
478 _ _Broken Bow, Neb
15,0001 434%
434 41920-1930
478_ _Broken Bow, Nob
5
41921-1931
10,0001 basis
273....Brown's Creek S. D., W. Va
5
41931-1941
35,000 102.13
478__Bryan. Tex
4
41929-1949
33.000
132__Buffalo. N. Y
4
1911-1930
100,000
_Burnet
478.
Co.Com.S.D.No.15,Tex. 5
41915-1930
800
335_ _Butler, Ind
5
1915-1921
7,000 100.357
479__Calexico, Cal
6
35,000 100
1912-1946
204_ _Calhoun County, Tex
5
44,000 100
204_ _Canton, Ohio
5,400 100.56
434
204_ _Canton, Ohio (3 issues)
434
4,000 x100
479.._Carbondale, Pa •
4
1917
7,000 100
335_ _Carrollton Sch. Dist.. Mo
4
41914-1929
50,000 94.7014
204_ _Cascade Co. S. D. No. 30, Mont. 6
1,400 100
41920-1930
274Chadbourn Drain.Dist.,No.Caro. 6
1913-1923
30,000
274__Chaffee, Mo
26,000
5
41916-1931
274_ _Champlain, N. Y
5
1916-1921
6,000 104
274__Champlain, N. Y
5
4,000 104
1913-1916
204__Chanute, Kens
534 1912-1921
35,000
2,940 100.428
835_ _Chattanooga, Tenn
6
1912-1915
40,000 100
8
335_ _Checotah, Okla
1936
60,000 103.075
335_ _Chehalis Co. S. D. No.28, Wash. 5
41913-1931
105,000
1031
204_ _Cherryvale, Kens
534
13,000 100
4
133_.Chester, Vt
8,200 103.271
1912-1921
204_ _Cheviot, Ohio
5
99
4
1913-1927 375,000
133_Chicago, III
20,000 105.66
335_ _Chippewa County, Mich
434
1926
125,000 101.16
274.. _Cincinnati, Ohio
4
1931
12,276 101.96
205_ _Cleveland Heights, Ohio
434 1912-1921
57,000
434
133__Clinton County, Iowa
65,000 101.153
133__College Park, Ga
5
1911-1940
30,000 100
407_ _Collinsville, Okla
6
1935
434 1912-1923
16,000 y100
274__Columbus, Wis
68,000
99
6
470__Conway, Ark
1912-1931
21,000 106.50
5
1912-1921
205__Crown Point Sch. Dist., Ind
7,740 100.47
4
19124916
133__Dedham, Mass
13,000 107.225
205....Delphos, Ohio
5
38,000 104.507
41931-1941
407_ _Deming, N. Mex
5
30,000 103.14
1940
5
206_ _Dublin. Ga
50,000
6
1936
206.._Duncan, Okla.(2 issues)
11,000 100.07
1912-1922
5
479__Durham Sch. Dist., Cal
14,000 100
1912-1926
479__Eatontown Soh. D., N. J
4
22,000
41920-1950
479__Ellis County, Tex. (6 issues)
5
250,000 100
5
1935
274.. _EL Reno. Okla
33,000
480__Emmet County, Iowa
434
8,741 101.716
434
480__Euclid, Ohio (3 issues)
20,000 106.025
434
335.._Fernbank, Ohio
1930
4
37,5001 102.21
274__Fitchburg*, Mass
1911-1920
274...Fitchburg, Mass
4
17,0001
1911-1940
5
52,500 y103.16
206_ _Flathead County, Mont
41921-1931
206_ _Forrest County, Miss
5
1949
100,000 100.10
206....Franklin County, Ind
4
a1922
89,000 103.029
5
41921-1941
206 __Gainesville, Tex
150,000
434
275_ _Gallatin County, Mont
1931
35,000 y100.18
206__Giles County. Va
5
1915-1920
30,000 100.06
275_ _Grand Rapids S. D., Mich
4
50,000 101
207.._ Grants Pass, Ore
6
19,972 100
207_ _Greenburg (Town) Union Free
•
Sch. Dist. No, 4, N. Y
434 1913-1940
55.000 102.883
275__Greenville, Tex
5
100,000
275__Hamilton County, Iowa
6
67,875 101.61
275__Hardin County, Ohio
27,240 101.59
5 1911,'12&'14
207„Hardin County, Ohio
434 1915,'16&'17 37,167 101.89
336_ _Harrison County, Miss
50,000 105.054
6
1021-1936
50,000 y100.102
408__Hastings, Neb
5
41916-1921
275_ _Hastings, Neb. (2 issues)
12,000
7
5
150,000
336__Hattlesburg, Miss
6
1936
50,000 100
207__Hcavener, Okla
5
8,000 100
480.._Hecla, So. Dak
41916-1926
50,000
408__Helena Sch. Dist. No. 1, Mont_ 434 41921-1931
6
110,000
95
275....Henrylyn hag. Dist., Colo
1930
275_ _Herrin, Ill
10,000 100
6
207_ _Higginsport, Ohio
5,000 103.12
5
1920-1929
275„High Bridge, N J
8,500
4
1945
336__Hinds County, Miss
100,000 103.25
5
14,000
481_Houlton, Me
4
1930
134__Houston, Tex
100,000 100.051
434 41931-1941
338__Howell S. D. No. 59, Neb
21,000
5
134__Huntington (Town), N. Y
17,703 102.03
5
7,000
275_ _Iredell Ind. Sch. Dist., Tex_
5
41920-1950
481__Ironton, Ohio
1,700 102.411
5
1911-1920
336_Jelferson County, Tex
75,000 100
5
41931-1951
40,000 100.25
481_ _Johnson City, Tenn
534
1931
207__Jones County, Tex
6,838
5
41915-1920
481__Kansas (34 issues)
56,725
100
5.534&6
275__Kenmore, N. Y
9,500 100.094
4.60
275__Kenton, Ohio
434 1915,'16&'17 37,167 101.89
481 _ _Keyport, N. J
75,000 100
5
65,000 100
275_King Co. S. D. No. 7. Wash_._ 5
419124921
18,000 100
275_ _Kiowa, Okla
8
1036
408.. _La Grande, Ore
10,000 100
5
41921-1931
207_ _Lakewood, Ohio (4 issues)
52,430 104.655
5
9,4691100% to
482__Leavenworth, Kan
5
1912-1921
1 102
336_ _Lee County Va
364.000 100
5
1916-1941
208_ _Lc Flora County, Okla
50,000
6
1936
208_ _Liberty Centre Sch. Dist., Ohio.. 5
3,000 105.426
1924-1929
275_ _Liberty Co. Com.S.D.N0.7,Tex. 5 • 41920-1930 • • 1.000 100
475
THE CHRONICLE
Page.
Rate.
Name.
275_ _Limestone County Corn. S. D.
5
No. 11, Tex
336_ _Lincoln County, Mont
5
482_ _Lordsburg, Cal
5
208_ _Los Angeles, Cal
434
336_ _Lyon County, Minn
5
482 _ _McKinney, Tex
5
275_ _McLeansboro, Ill
408_ _McPherson, Kan.(2 issues) _ _ _ _ __
408_ _Manning,So. Caro
6
135_ _Marietta, Ohio
276_ _Marion, Va
5
135_ _Marion County, Iowa
434
337._Martinsville, Va
6
69_ _Maryland
4
69_ _Maryland
334
69_ _Maryland
4
Maturity.
1930
41921-1931
1914-1949
41920-1950
41914-1921
1912-1916
1921-1929
1945
41921-1926
1926
41921-1926
Amount.
3,000
100,000
36,000
476,000
43,500
25,000
20,000
10,000
5,000
8,522
6,500
65,000
35,000
300,000
100,000
200,000
10,000
15,000
25,000
2.241,000
40,000
23,000
22,000
16,700
10,000
1,900
18,500
6,500
9,000
7,500
32,000
3,000
40,000
100,000
111,900
Price
y102.57
103.41
100.50
100.22
z100
100
103.75
100.46
94.452
100.46
101.07
100.76
100.61
100.036
101
104.04
102.20
100.83
108.25
100.831
100
103.961
103.761
103.268
100.50
337_ _Massachusetts (9 issues)
334
135_ _Massena, N. Y
434 1911-1930
69_ _Methuen, Mass
4
1911-1933
337_ _Miami County, Ohio
5
1911-1916
337_ _Miami County, Ohio (18 issues) _ 5
1911-1916
69_ _Michigan City Sch. Dist., Ind
5
1921
276_ _Milan, Ohio
434
1917
276__Milford, Neb
5
41915-1930
208_ _Milford Centre, Ohio
5
1912-1921
208_ _Milford Centre, Ohio
5
1912-1921
208__Milford Centre, Ohio
5
1912-1921
135 _Milton Sch. Dist., Pa
4
408_ _Mineral Wells, Tex
5
41930-1950
376 _Mingo County, W Va
5
101.53
41920-1930
276 _Minneapolis, Minn
4
.100
482 _Minnesota (17 issues)
4
100
337_ _Mississippi Co. Drainage Dist.
No. 8, Ark
6
1911-1932 265,000
135_ _Mississippi Levee Dist.. Miss_ _ _ 434 41921-1936
500,000 100
483__Modesto Irrig. Dist., Cal
5
1931-1941
50,000 100
409_Monona County, Iowa (3 issues) 6
1912-1916
31,000 101.309
337_ _Montgomery County, N. Y
434 1912-1917
30,000 100
209_ _Mt. Pleasant (Town) Sch. Dist.
No. 7, N. Y
5
1926-1931
6,000 107.02
434 41957-1961
209_ _Mt. Vernon, N. Y
100,000 107.311
136_ _New Bedford, Mass.(3 issues) _ _ 4
1912-1931
315,0001 103.368
4
1931
136_.New Bedford, Mass
14,0001
5
1912-1921
209_ _Newburgh Heights, Ohio
22,662 104.103
6
483_.New Concord, Ohio
2,000 101.55
136_.New Decatur, Ala12,000
434 1917-1936
209_ _New Rochelle, N Y
40,000 103.843
434 41916-1926
209 _Newton, Iowa
40,000 y100.25
276 New York City
1960 60,000.000 100.90
434
409_.New York City (2 issues)
1960
3
1,150,0001z100
409 _New York City
4
1960
10,0001
337 _Niagara Falls, N Y
454 1921-1925
45,000 103.631
209__Nordhoff Un. High S. D., Cal
5
1912-1931
20,000 103.3075
209_ _Normal, III
5 1912,'13&'14 27,000
483_ _North Dakota (11 Issues)
4
Various
21,950 100
136_ _North Sterling Irrig. Dist., Colo. 6
1929
60.000 100
6
1931
25.000 101
337_ _Okmulgee County, Okla
5
41920-1940
18.000 100
278__Onaga, Kan
5
484_ _Osage, Iowa
1911-1920
10,500 100
278 _Osceola Twp., Mich
1936
25.000
5
209 Osmond Sch. Dist., Neb
12,000
5 1915,'20&'25
69 _Pacific County, Wash
5
41912-1926
100.000 100
278 _Palestine, Tex. (2 issues)
5
41921-1951
26,000 100
209 _Paterson, N. J
434
1940
180,000 106.29
338_ _Paulding County, Ohio
5
1913-1920
20,000 101
210 _Penn Twp., Ind
1912-1926
24,000 y103.34
338 _Pennville Sch. Dist., Ind
434
24,000 103.043
278 _Pensacola, Fla
434
1941
250,000
96.25
484 _Philadelphia, N. Y
434 1912-1919
8,000
5
136 _Pitt County, No. Caro
1941
75,000 103.366
338_ _Pittsburgh, Pa.-Brushton SubSch. Dist
40,000
431 1940&1941
210_ _Pittsburgh, Pa.-West Liberty
5
1926
25,000
Sub-Sch. Dist
4
278 _Portland, Ore
500,000
93.80
278 _Portland, Ore
4
500,000
96.288
338 _Portland, Ore
6
1921
232,119 101.006
210_ _Quanah Ind. Sch. Dist., Tex
5
41931-1951
15,000 100.166
409 Random Lake, Wis.
4,000
210 _Reading, Ohio
5
1911-1920
2,125 102.357
484 _Rector Spec. Drain. Dist., Ill_ 6
1915-1921
70,000
278 Rhode Island
4
1960
500,000 104.19
278 Richland Centre, Wis
4
1912-1931
25,000 103.65
485_ Roseville, Cal
5
1911-1925
1,500 100
69 _Salamanca, N. Y
17.000
4
1911-1927
278 _Salina, Kane
53,960
5
485_ Sallisaw, Okla.
1936
65,000 100
6
279_ _San Mateo, Cal. (2 issues)
56.000 102.646
434 1912-1951
279 _San Mateo High Sch. Dist., Cal. 5
50,000 103.70
210„Saranac, N. Y
5
1913-1916
7,000 100.859
485__Seattle, Wash. (4 issues)
4A
1.921,0001 101.16
5
485...Seattle, Wash
46,0001
6
485Seattle, Wash. (3 issues)
Various
82.660 t 100
485_ _Seattle, Wash. (28 issues)
7
Various 456,0341
211 _Shawnee Sch. Dist., Okla
5
1935
510,000 100.20
110,000 100
211 _Sigourney, Iowa
434 41929-1931
35,000 y101.571
434 1913-1932
211_ _Somerset, Pa
10,000 101
5
1912-1946
211_ _South Amboy, N. J
75,000 104.03
6
279_ _South Boston, Va
3,500 100.25
211_ _Springfield Twp., Pa
20,000 101.0625
454 1912-1921
339 _Stamford, Tex
5
41920-1950
10,000 100
339 _Stark County, No. Dak
5
1931
60,000 104.80
279 _Statesville Twp.. No. Caro_
5
50,000
137 _Sterling. III
1913-1920
4,000
5
339 _Sugarcreek, Ohio
454 1914-1938
12,500 101.31
279._Sullivan County, N. Y
4
6,000
211 _Superior, Neb
5
41915-1930
16,000 100
409 _ _Tallahatchie Co. Rd. Dist. No.2,
Miss
6 • 1922-1936
25,000
4
211_ Taunton, Mass. (5 issues)
70,900
211 Taunton, Mass. (2 issues)
1911
7,900 100
454
5
339_ Terra Alta, W Va
1941
15,000 100
4
211_ _Toledo, Ohio
1935
300,000 100.338
4
339 Topeka, Kane
50,000 100
486_ Torrance Co. S.D.No.6, N.Mex. 6
1,500
486 __Tracy, Minn.(3 Issues)
4
1918-1926
15,000 100
434 1912-1931
279_ Troy, N. Y
20,000 103.041
279_ Union County, So. Caro
454
1931
75,000
340_ Union Drainage Dist., Ill
5
1922-1926
77,400
97.51
212_ Urbana, Ohio (4 issues)
6
1913-1917
4,716 104.58
280_ Utica, N Y.(2 issues)
434 1911-1916
10,805 100.101
410_ Vandergrift, Pa
5
12,500 105.32
340_ Walter, Okla. (3 issues)
1930
90,000
212_ Waseca Sch. Dist., Minn
12,000
410_ Washington C. H., Ohio
5,714
434
410 Weatherford, Tex
5
41925-1955
15,000 100
212_ West Feliciana Parish, La
6
22,500
280_ ;Westfield, N.J
1921
16,0001 100.297
434
280_ Westfield, N.J
1912-1921
40.0001
5
340_ West New York, N. J
5
125,000
213_ _Weston, Ohio
2,000 102.575
454 1917&1918
410_ Westwood, Mass
5,000 100
487_ Wetmore, Kan
6,000
487_ Wichita, Kan
105,000
5
138„Wichita S. D., Kan. (2 issues). 5
41921-1931
75,000 103.397
280_ _Wildwood Sch. Dist.. N.J
9.000
434
410_ Williamson, W Va
51,000 100.90
534 41921-1945
138_ Winthrop, Mass
4
1912-1917
15.000
281__Wise County, Va
5
41931-1941
700,000 102 0
213__Wright County, Minn
6
1,871 100.26
THE CHRONICLE
476
Rate.
Maturity.
Name.
Page. • •
4
340__Wyoming Sch. Dist., Ohio
1925-1932
4
41914-1916
21$ __ York County, Pa
213__Youngstown. Ohio (8 issues) ___ 5
1912-1916
(Vol, Lxxxxn.
Name.
Page.
Rate. Molurity, Amount. Prle e.
281 _Central St. Paul S. D., Man_
5
1912-1931
8,000
341 _Chilliwaok, B.C
5
1931
6,0001 97.578
341.._Chilliwack, B. C. (3 issues)
5
1911-1930
35,000f
411_ _Claresholm, Alta
5
9,941
214.._Coblenz, Sask
Total bond sales for January 1911 (294 municipali2,000 100.75
341_Cornwall, Ont
ties, covering 416 separate issues)
k$80,180,767
434 1912-1931
5,227
411__Dubuo Sch. Dist., Sask
8
1911-1939
7,000
a Average date of maturity. d Subject to call in and after the earlier 489 ..Edmonton Highlands Soh. Dist,
No. 2292, Alta
year and mature in the later year. k Not including $27,498,060 of tem8,000
porary loans reported, and which do not belong in the list; also does not 411 _Fraserville, Quo
434
77,000
Include $883.075 of Canadian loans. z Taken by sinking fund as an 282__Fronka S. D. No. 2471, Sask.__ 634 1911-1939
2,500 101.48
investment. y And other considerations.
282_ _Frontenac County, Ont
12,880 100
434
411__Guelph, Ont.(8 issues)
98,887
434
REVISED TOTALS FOR PREVIOUS MONTHS.
489 __Holdsworth S.D.No.2686,Sask
2,200
411__Ingersoll, Ont
4
1940
54,800
The following items, included in our totals for previous 341_ _Kenora, Ont
14,891
95.35
months, should be eliminated from the same. We give the 281_ _Kinistino. Sask
6
1921
700
92.807
Township, Ont
5
1911-1935
4,000
page number of the issue of our paper in which the reasons 489__Louth
282_ _Magnolia S. D. No.2190, Alta_ 634 1912-1922
800 101.041
489_ _Marquis, Sask
for these eliminations may be found.
2,000
282_ _Minneberry S.D. No.2217, Alta, 65
1,600
1921
Amount
Page.
Name of Municipality.
282_ _North Vancouver, B. C
5
1981
80.000 100.50
$100,000 411__Owen
478__Buffalo, N. Y.(December list)
Sound, Ont.(3 issues) _ _ _ 434
1930
50,000
8,700 489_ _ Qu'Appelle,
335.. _Dayton, Ohio (June list)
Sask
1925
5,477
6
15,000
_Marquette
376_
County. Mich. (Deoember list)
282_ _Raymond, Alta
40,000
1922-1941
5
341
_
_Renfrew,
Ont
34&5 1912-1941
59,500
We have also learned of the following additional-sales for 214_ _Riverton S. D. No.2128, Alta_4634
1,000 100
1920
489._Saltcoats Sch. Dist., Bask
previous months.
7,000
534 1911-1930
Rate. Maturity. Amount. Price. 282_ _Shellmouth S. D. No.292, Man_ 6
1911-1930
2,000 100.10
Name.
Page.
411 __Verdun, Quo
$45,000 100
5
1940
250,000
273__Britton Soh. Dist., Okla.(Sept.) 6
282 __Venda, Sask
115.900 100
3.80 1911-1929
6
1926
1,200
204__Brookline. Mass
341_ Webb. Sask
305,000
6
1028
5,000
478 __Buffalo. N. Y.(2 issues, June)- 4
489__Webb, Sask
15,000 100
20,000
478.._Calro, Ga. (2 issues)
5
35,000
100
335__Cozad, Neb. (Sept.)
Total
1911-1930
4
25,000
98j
$883,075
205_ _Chleago. Ill.-West Park Dist
1925
7
9,000
90
274__Colbran, Colo
We have also learned of the following additional Canadian
41913-1917
6
16,000 100
205__Columbla County. Wash
4 34 1913-1918
4,000 100.25
374__Conklin. N Y
sales for previous months:
1930
47,500
204__Cincinnati, 0.(4 iss., Jan.)___.. 4
Page.
Name.
1920&1950
Rate. Maturity. Amount. Prisi
23,200
4
204__Cincinnati, 0.(3 iss., Feb.)
214__Burdette S. D. No. 2088, Alta.. 6
Mch.)
4 1920,'30&'50
1920
75,000
$2,400 100
204__Cincinnati, 0.(5
214__Chatham, Ont.(4 issues) (Nov.) 5
1920
4 '20,'25,'30&'50 455,800
45,920 100.111
204__Cincinnati, 0.(14iss.'. April)214__Chatham,
Ont.
(Nov.)
1915
4 '20,'30,'40&'50 54,600
iss'May)
656
204„Cincinnati, 0.(9 iss.,
341_ _Diamond City S. D.. Alta.(Oct.) 8
1911-1930
Various, 216,040 z100
4
17,000 103.005
204__Cincinnati, 0.(12 iss., June)
341_Empyrean S. D. No.2274. Alta.
4
1930
4.000
204...Cincinnati, 0.(July)
(Nov.)
1930&1960 212.000
1920
304C1noinnati. 0.(2 iss., August) _ 4
634
800 100.25
341_ _Houghton Lake S. D. No. 2544,
4 1920,'30&'50
204__Cinoinnati. 0.(6 iss. Sept.)
68,500
Sask
4
'
. Oct.)
Various
204_Cinoinnati, 0.(19 iss
157,445
1915
1,200 100.135
489__Limerick S. D. No. 2445, Sask.
Nov.)
204„Cincinnati, 0.(4 iss.,'
4
1930&1950
88.000
(Feb.)
Various
204_ _Cincinnati, 0.(11 issues)
97,800
1930
831
1,500
214__Marmora, Ont
407_ _Craighead County, Ark.(Aug.) _ 8
24.000 100
5
1911-1930
4,000 100
407__Crystal Falls, Mich. (Aug.) __ ._ 5
282__Orangeville, Ont.(Nov.)
18,000
7,500
434 1911-1940
98.80
5
385.._Dayton, 0.(4 issues)
23,680
All the above sales (except as indicated) are for December.
335__Dayton, Ohio
4 X 1919-1923
10,000
6
835.. _Dayton, Ohio (5 issues)
These additional December issues will make the total sales
4,690
274__Dorranceton Sch. Dist., Pa_ __ _ 5
45,000 101.577 for that month $456,093. The total of debentures
sold
274 __East Brady S. D., Pa.(June)___ 4 X 41912-1930
24,000 100.25
206__East Palestine, Ohio
4 34
5,500 102.114 in 1910 was $86,628,550, according to our records.
206__E1 Dorado Paving Imp. Dist.
Nos. 2 & 3, Ark. (May)
9.006
479W El Dorado Twp. S. D. No. 67,
IL (June)
1912-1922
5
18,000
274_ _Escanaba, Mich
4 X 1918-1930
30.000 100
335__Gettysburg, So. Dak. (July)..... 5
18,000 100
Arkansas City, Cowley County, Kan.-Commission Form
408__Grandfleid, Okla. (May)
16,000 100
1930
es
of Government Proposed.-A special election will be held
49,934 100
41911-1920
480__Grants Pass, Ore. (2 issues)_.,
6
March 17, it is stated, on the question of putting in effect the
50,000 100
408__Greenville, Tex
5
7,454 102.079 commission plan of government.
275__Hartford, Mich.(May)
5
100,000
1960
4
207.._Jersey City, N.J.(April)
338_ _King County Sch. Dist. No. 26,
California.-New State Treasurer.-On Feb. 7 Governor
3,500 100
41912-1015
0
Wash. (July)
Johnson announced that he had chosen Edward Davis
481_ _King County Sch. Dist. No. 120,
5,000 100
41912-1920
6
Wash. (July)
Roberts, a banker of San Bernardino, to succeed Wm. R.
481_ _Blickitat Co. Sch. Dist. No. 19,
Williams as State Treasurer. Mr. Williams, whose term as
11,500 100
534
Wash. (Sept.)
25,000
1930
207„1{oochiching Co. Minn. (July)_ 4
Treasurer expired on January 1, has been appointed Superin41942-1952
7,000
207.._Lake Borgne Levee Dist., La_ __ 5
tendent of Banks.
1930
5,000 100
207.._Leamington S. D. No. 7, Utah_ 5
1911-1922
6,000 104.116
275__Liberty Centre S.D.,Ohlo (May) 5
Legislature Ratifies Proposed Income Tax Amendment.336__Lincoin County Irrig. Dist.,
6
Senate Joint Resolution No. 2, ratifying and approving the
300,000 100
Colo. (July)
4
1911-1920
40,400 100
208_ _Lowell, Mass. (Sept.)
proposed Income Tax Amendment to the Federal Constitu4
1911-1920
2,600 100
208_ _Lowell, Mass
6
tion, passed in the Senate on Jan. 20, was adopted by the
1911-1923
12,500 100
308_ _Luxora Sch. Dist., Ark
1920
5
482_11111er, So. Dak
6,000 100
House on Jan. 31.
8
1919&1929
276„Mitchell, Ore. (June)
7,000 101
209__Montezuma Valley Irrig. Dist.,
Colorado Irrigation Districts.-Bondholders' Protective
6
1921-1930
125.000
Colo
97.50
Committee Formed.-Announcement is made in circulars
209__New Castle S. D., Pa. (Nov.).... 45( 41921-1941
180,000 100
483.__New Castle S. D. No. 1, Wyo.
dated Feb. 10 that a Bondholders' Protective Committee has
(July)
1920
534
7,000 101.428 been formed in the matter
of defaulted interest on bonds of
5
41920-1923
209__New Orleans, La
100,000
5
338_0'Neill, Neb. (June)
the Denver-Greeley Valley Municipal Irrigation District,
41915-1930
16,000 100
378_ -Parkinson Spec. Sch. Dist.,
North Denver Municipal Irrigation District and Denver
4
Ohio (June)
5,000 100
St. Vrain Municipal Irrigation District. The committee
278__Parmer County Corn. Sch. Dist.
5
41930-1950
12,000 100
No. 5, Tex
coroists of Ralph S. Child of Child, Hulswit & Co., Grand
6
210....Plainview, Neb.(July)
41915-1930
8,900 100
4j
1923
6,000 100.0565 Rapids, Mich.; Win. C. Cramer of the Rudolph Kleybolte Co.,
484_ _Port Byron, N. Y.(July)
1914-1923 213,474 100
210„Pottawatomie County, Okla__ _ 6
Cincinnati; C. C. Griswold of F.W. Woolworth &Co., Chicago,
400_Remsen & Trenton Un. Free
and Robert M. Rother, President of the Hopkins Place Sav11,000 100
Soh. Dist. No 1.N. Y.(Aug.) 434 1911-1931
147,000 100
4
1911-1920
210„Saginaw. Mich.(8 Issues)
ings Bank, Baltimore. Child, Hulswit & Co. of Grand
37,000 100
1912-1921
485....St. John, Kan. (2 issues)
6
Rapids will act as executive agents of the committee. The
486„Shackleford Co. Corn. Sch, Dist.
No. 15, Tex
5
1,800 100
41920-1930
December 1910 interest coupons on the bonds of all the
211__Shelby County, Ohio
454 1911-1915
13,500 100
districts referred to are in default and a like default upon the
211_ _Shoshone Co.S. D. No. 1, Idaho 5
3,000 100
211__Sigourney Ind.Sch. Dist. No. 1,
June 1911 coupons is thought not improbable. An investiIowa (May)
434 1911-1919
10,000 100
gation by representatives of those interested in the matter
211__South Omaha, Nob
534 41915-1920
1,200 100
discloses the following facts, according to the circulars just
279....Spencer Ind. Soh. Dist. No. 20,
5
So. Dak. (June)
4,000 100
issued:
Various 1,771,390 95 to 100
279__Spokane, Wash
These municipal irrigation districts are dependent for water on the
5
1931
486_ _Tipton, Mo
17,500 100.10
6
Standley Lake Irrigation System, which is said to be at least 85% com41912-1930
212__Toppenish, Wash
35,000 100
pleted.
Its construction was in the hands of the Denver Reservoir Irriga1916-1921
6,000 102.171
280__Unita Co. S. D. No. 10, Wyo.... 8
tion Co. and was arrested early in the year 1910 by the financial troubles of
41920-1950
410__Vernon, Tex.(2 issues, Nov.).... 5
12,000 100
that company, which resulted in a receivership in June 1910. Consequently
1932
4
25,000 100
487...Washington County, Pa
the land embraced in these districts (except a portion of it which previously
41919-1929
5
2,000 100
340__Willow Springs. Mo. (April)
had some water rights, though insufficient for general agricultural purposes)
1930
8,500 100
410_ WIlgon Co Com.S.D No.11.Tex. 5
still
remains dry land, notwithstanding It is fully entitled, as a legal proDists.,
Sch.
340_ _Wood County Corn.
position, to be supplied with water.
41920-1930
4,800 100
5
Tex. (5 issues, Nov.)
Suit by a bondholder under present conditions could result only in a tax
40.000 104.936
14 34 1925&1930
410__Woodiavrn, Pa. (Aug.)
41.000 108.551 sale of lands that are now dry lands. But as soon as the Standley Lake
t4 34 1935&1940
Irrigation System is completed these municipal irrigation districts will have
35,000
1935
6
213....Woodward, Okla.(Sept.)
water, and the lands upon which the bond issues are based, and which are
1920
20,000
213_ _Worcester, Maas. (July)
4
subject
to taxation for their payment, will become irrigated lands; taxes
41915-1930
25,0001
100
281_ _Wymore, Nob
5
can then be collected, and the bond issues will then be backed up and
57,0001
41916-1931
281__Wymore, Neb. (2 issues)
6
protected by the full security for which the bondholders have bargained.
340__Yallowbusha Swamp Land Dist.
The Denver Reservoir Irrigation Co. and those who are interested in it
48,000
No. 1. Miss
96
8
are said to fully
the liability and duty of that company to pay the
All the above sales (except as indicated) are for December. interest couponsrecognize
on these bond issues until the Standley Lake Irrigation
is completed and water is delivered to the districts. They have
These additional December issues will make the total sales System
assured the committee that every effort will be made by them to arrange
(not including temporary loans) for that month $36,679,581. for early payment
of the Interest now in arrears, and that which may tall
The revised figures make the sales for the year 1910 aggre- due prior to the time when water Is actually furnished to the districts.
are already well under way to secure new capital for the completion
Plans
gate $319,658,382.
of the Standley Lake Irrigation System. Much additional construction
work is also contemplated in order to carry water to another municipal
BONDS SOLD BY CANADIAN MUNICIPALITIES IN JANUARY.
irrigation district with which a contract has been tentatively made. Bonds
Rase. maturity, Amount. Price. are to be issued by this district to pay for the work. The work required to
Name.
Page.
8
1912-1921
488__Basano, Alberta
;2,000 100
complete the Standley Lake Irrigation System and the work required to
8,500
4118__Canora, Sask
carry water to the district in question are equally necessary to obtain this
5
1912-1931
Sal-Carberry. Man.(2 issues)
2,592
new bond issue. It is absolutely essential to the plan that the StandleY
Amount, Price.
8,000 100.11
30,000 100.118
17,930
News Items.
6
FEB. 18 1911.1
THE CHRONICLE
Lake Irrigation System be completed; for water cannot be got to the new
District without completing that system. The completion of that system
for that purpose must also complete It for the purposes of the Districts in
which we are directly interested.
While the bondholders of these districts have nothing to do directly with
this plan, or with the clearing up of the debts of the Denver Reservoir
Irrigation Co., and while the completion of the Standley Irrigation System
is all that these districts or their bondholders are directly concerned with—
nevertheless it is evident that their interest is as vital as is that of those
more directly concerned in the consummation of the arrangements for new
capio
t .
F ralthe accomplishment of these ends a provisional plan has been agreed
upon for safeguarding the interests of the bondholders who will co-operate
with the Committee.
The deposit of coupons with the committee will be upon
the agreement that the liability for expenses shall not exceed
10% of the face of the coupons deposited, the share of
expenses to come only from such moneys as shall be collected
upon the coupons. Coupons may be withdrawn at any time
upon the payment of such sum (not in excess of the 10%
above fixed as the limit of expense) as the Committee may
determine to be the holders'pro rata share of expense incurred
up to the time of withdrawal.
Danville, Vermilion County, Ill.—Commission Form of
Government Defeated.—The proposition to adopt the commission form of government was defeated by the voters on
Feb. 16.
Havana, Cuba.—New Loan.—Dispatches from Havana
state that the Municipal Council has adopted a resolution to
raise a loan of $28,000,000. It is thought probable that the
new loan will be floated by the Speyers.
Hillsboro, Montgomery County, Ill.—Commission Form of
Government Adopted.—The commission form of government
was approved by the voters, it is said, at an election held
Feb. 13.
Idaho.—Legislature Favors Income Tax Amendment.—We
are advised by the Secretary of State that the Legislature
has passed a memorial asking for the ratification of the proposed amendment to the Constitution of the United States
giving power to Congress to tax incomes.
Kansas.—Equal Suffrage Amendment.—The Governor has
signed the resolution recently passed by the Legislature
providing for the submission to the voters at the next
general election in 1912 of a proposed amendment to the
State Constitution granting to women the right to vote.
Little River Drainage District, Cape Girardeau County,
Mo.—Drainage Tax Declared Valid.—A decision was rendered
on Jan. 23 by Judge C. B. Ferris of the Cape Girardeau County
Circuit Court declaring constitutional the levy of a flat tax
of 25 cents per acre, which was assessed in accordance with
Section 5538 of the Revised Statutes of 1909, for the preliminary cost of establishing the drainage district. The
property owners protested against paying as high a tax for
uplands as was assessed against lands in the swamps.
Montana.—Vote on Income Tax Amendment.—As previously reported, the Legislature of this State adopted a joint
resolution ratifying the proposed Income Tax Amendment
to the Federal Constitution. See V. 92, p. 334 The vote
on this resolution was as follows:
In the Senate—Ayes 25, Noes 1, absent 2.
4In the House—Ayes 61, Noes
absent 12.
477
Exposition to be held in 1915 to celebrate the completion
of the Panama Canal was signed by President Taft on
Feb. 15. The measure was passed in the Senate on Feb. 11
and the House on Jan. 31. See V. 92, p. 334.
Republic of Cuba.—Bonds Oversubscribed.—The $5,500,000
432% gold coupon bonds, the subscription lists for which
closed on Feb. 6, were largely oversubscribed both in this
country and in Europe. See V. 92, p. 334.
Republic of Hayti.—New Loan.—An issue of 65,000,000
francs external 5% gold loan of 1910 offered this week in.
Paris was largely oversubscribed. The bonds will be amortized in 50 years. Interest is payable May and Nov. 15;
par 500 francs. Subscription price 88
or 442.50 francs
per bond. Subscriptions were received by the following:
Banque de l'Union Parisienne, Hallgarten & Co., Ladenburg,
Thalmann & Co., Speyer & Co., the National City Bank and
the Berliner Handelsgesellschaft.
Republic of Honduras.—Loan Contract Signed.—The contract for a loan to Honduras by American bankers was
signed in New York on Feb. 15, according to an announcement by the State Department.
The loan will be made by J. P. Morgan & Co., Kuhn, Loeb & Co., the
National City Bank and the First National Bank, all of New York, while
the Guaranty Trust Co., also of New York, will act as the fiscal agent of
the Honduran Government and the foreign holders of bonds of that country.
The contract is said to provide for an immediate loan of $7,500,000, to
settle the debt of Honduras and to prosecute some improvements in the
country. In addition, it contemplates a future loan of $2,500,000 for further improvements in case the customs receipts of the Republic seem to
justify advancing the money. It is understood that the bankers take the
loan at about 88.
Before the loan can be made, the contract must be accepted by the Honduran Congress, and, further than that, the matter is contingent upon the
ratification by the American and Honduran Congresses of the treaty recently negotiated between the two countries, providing for the proper guaranty of American loans in Honduras.
Ridge Township School District, Van Wert County, Ohio.
—Litigation.—The temporary injunction which had been
granted restraining the sale of the $35,000 43% coupon
bonds (V. 91, p. 1345) was dissolved, but the plaintiffs, we
are advised, have now filed an amended petition.
San Antonio, Tex.—Vote Cast on Commission Form of
Government.—The vote cast at the election held Feb. 4,
when the commission plan of government was defeated, as
stated in V. 92, p. 406, was 7,070 "for" to 7,230 "against."
Seattle, Wash.—City to Vote on Municipal Railway System.
—On March 7 there will be submitted to the voters a proposition to issue $800,000 20-year city bonds for the construction of a railway system paralleling the Seattle Renton &
Southern system, or for the acquisition of that road by purchase or condemnation. The bond ordinance provides for
appraisal and gives the city the option to purchase the property on a cash basis.
South Dakota.—Legislature Ratifies Proposed Income Tax
Amendment.—The Legislature of this State has passed a,
resolution, it is said, ratifying the proposed Sixteenth Amendment to the U. S. Constitution providing for an income tax.
Spokane, Wash.—Litigation.—A hearing will be had Feb.
21 on the appeal to the Supreme Court in the injunction suit
involving the validity of the commission form of government. See V. 91, p. 1788. The Superior Court refused to
grant the injunction.
Washington County Good Roads District No. 1, Idaho.—
Supreme Court Declares Bond Issue Void.—The State Supreme Court in an opinion handed down Feb. 8 declares
invalid certain bonds issued by this district on the ground
that the law authorizing the same "provides no method of
giving notice of election authorizing such bonds or method
of conducting same, and is incomplete, indefinite and incapable of being executed, and is therefore illegal and void."
It is said that many thousands of dollars' worth of bonds
have been floated under exactly the same circumstances as
those which are declared by the Supreme Court to be illegal.
Waterloo, Seneca County, N. Y.—Supreme Court Renders
Decision in Sewer Litigation.—A decision has been rendered
by the Appellate Division of the Supreme Court at Rochester
in the appealed injunction case of J. C. Ward, J. B. H.
Mongin, et. al., against the village of Waterloo. The
following, concerning the Court's ruling, is taken from the
"Rochester Democrat and Chronicle" of Feb. 10:
Nevada.—Supreme Court Decision Concerning Gifts of
North Carolina State Bonds.—The Supreme Court of Nevada
recently decided that the Act passed by the Legislature of
that State, authorizing the acceptance of gifts of bonds, is
mandatory upon the Governor, and he is therefore compelled
to accept certain North Carolina State bonds donated for
the purpose of collection from that State. Since this decision
was rendered, however, the Act referred to is understood to
have been repealed by the Legislature.
New Mexico.—Vote on New Constitution Canvassed.—A
canvass of the vote cast Jan. 21 on the proposed Constitution
for the State of New Mexico (V. 92, P. 273) shows that there
were 31,742 votes "for" to 13,399 "against" its adoption.
New York City.—Controversy over Listing of City Bonds.—
A controversy has arisen over the refusal of the New York
Stock Exchange to list the recent issue of $60,000,000 corporate stock should the same be engraved by the New York
Bank Note Co. The other bid received for the engraving
of the bonds was from the American Bank Note Co., but
Mayor Gaynor has refused to sign the contract giving the
The decision, which is unanimous, affirms the judgment of Justice
Sutherland upon all the five points, which was favorable to the village and
work to the latter company, as its bid was about $11,000 from
which the plaintiffs appealed.
higher than that of the New York Co. The New York Stock
Justice Sutherland's decision, which now finally settles the case, unless
appeal should be taken to the Court of Appeals, dismissed the Injunction
Exchange has long declined to accept the work of the New except
so far as it forbade the payment of bills incurred under the former
York ;Co. but feels satisfied with the work of the American power contract,
which was declared invalid by Justice Benton In conBank Note Co. The matter will be taken up at a meeting demnation proceedings, and upheld the contentions of Village Attorneys
G. E. Zartman and Charles A. Hawley that the proceedings for a new
of the Board of City Record on Monday (Feb. 20).
sale of bonds and a new contract under the reincorporation election and the
sewer bond election were valid and regular, andi that the village
Northern Colorado Irrigation District, Colo.—Vote on second
might proceed to sell bonds and build an entire sewer system, using what
Organization.—An election held Jan. 16 on the proposition had been constructed under the former contract, provided the new contractors should so arrange with the assignees of the work done by the
to organize this district resulted in 54 votes "for' and none former
contractors.
The bond issue provided for in the second sewer
"against." W. Rolla Wilson, President of the North Poudre election was one of from $90,000 to $100,000.
and Weld County Reservoir and Ditch Co., writes us as
West Virgiaia.—Income Tax Amendment Rejected by Senfollows concerning the new District:
ate.—The State Senate on Feb. 16 rejected the proposed InThis system contemplates the Irrigation of 50.000 acres of land north of
and contiguous to the Grecley-Poudre District, and traversed by the Union come Tax Amendment to the Federal Constitution by a vote
Pacific main line, and by the Colorado & Southern. The water supply will of 13 "ayes" to 17 "noes." As stated in V. 92, p. 406, the
be furnished from the North Poudre River, the Box Eider and Stonewall
and other streams. A storage capacity will be furnished of 88,000 acre- House ratified the proposed amendment on Feb. 3 by a vote
feet. The dams will be built across the beds of these streams 51 as to im- of 70 to 2.
pound all of the surplus water which is discharged during the flood season.
Wisconsin.—Income Tax Amendment Ratified by House.—
Adequate Government and State records indicate tho sufficiency of the
water supply.
A resolution endorsing the proposed Income Tax Amendment
Canal
Exposition.—President
Panama
Signs Bill Desig- to the Federal Constitution was adopted by the Assembly on
nating San Francisco as Site.—The bill recently passed by Feb. 9, it is reported, without a dissenting vote. The
Congress designating San Francisco as the site for the measure now goes to thePenate.
[Vol- Lxxxxn.
THE CHRONICLE
478
•
Boston, .Mass.-Bond Sales for January.-During the
month of January the following bonds, aggregating $405,000,
Denver, Colo.-Bond Call.-The following bonds are were disposed of at par:
x$15,000 33% 1-5-year serial bonds to construct new quarters for the
called for payment Feb. 28:
Bond Calls and Redemptions.
fire-boat crew.
Storm-Sewer Bonds.
x80,000 3M% 1-10-year (serial) bonds for various municipal purposes.
Arlington Park Storm Sewer Dist.-Bonds Nos. 4 to 15 inclusive.
(serial) bonds for Old Colony Avenue.
x28.000
33i%
Sub. Dist. No.3 of the Capitol Hill Storm Sewer Dist. No. 1-Bond No. 7. x125.000 4% 1-14-year
bonds for the Meridian St. bridge. Maturity on Jan.2 as
North Denver Storm Sewer Dist. No. 1-Bonds Nos. 179 to 183 inclusive.
yearly from 1912 to 1916 inclusive and
$9,000
follows:
Dist.
Sewer
-Bond
52.
No.
Storm
Hill
South Capitol
$8,000 yearly from 1917 to 1926 inclusive.
Sanitary Sewer Bonds.
x67,000 4% bonds for the hospital department. Maturity on Jan. 2
Sub. Dist. No. 8 of the East Side Sanitary Sewer Dist. No. 1-Bonds
as follows: $4,000 yearly from 1912 to 1918 inclusive and
Nos. 74 and 75.
$3,000 yearly from 1919 to 1931 inclusive.
Improvement Bonds.
a90,000 334% 1-18-year (serial) bonds for the fire-department repair shop.
East Denver Improvement Dist. No. 3-Bond No. 55.
East Denver Improvement Dist. No. 4-Bonds Nos. 47 and 48.
Psu
xd
fun
.rehased for the sinking funds. aPurchased for the sinking and trust
East Side Improvement Dist. No. 1-Bond No. 36.
East Side Improvement Dist. No. 2-Bond No. 26.
The above bonds are all dated Jan. 2 1911.
Evans Improvement Dtst.-Bond No. 43.
North Side Improvement Dist. No. 3-Bonds Nos. 92 to 94 inclusive.
Bowling Green, Wood County, Ohio.-Bond Offering.South Capitol Hill Improvement Dist. No. 1-Bond No. 90.
South Side Improvement Dist. No. 1-Bonds Nos. 79 to 85 inclusive.
Proposals will be received until 12 m. March 15 by R. S.
1-Bonds
No.
Dist.
and
32
Improvement
Nos.
33.
Thirteenth St.
Sweet, City Auditor, for $40,000 4% coupon park-improveWest Denver Improvement Dist. No. 1-Bond No. 118.
ment bonds.
Paving Bonds.
Alley Paving Dist. No. 16-Bonds Nos. 4 to 6 inclusive.
Authority, Section. 10 Municipal and 3677 General Code, also by vote of
1
Nos.
10
to
20-Bonds
No.
inclusive.
Dist.
Alley Paving
937 to 11 at election held Jan. 10. Denomination $500. Date March 1
Broadway Paving Dist. No. 3-Bond No. 34.
1911. Interest semi-annually at the City Treasurer's office. Maturity
March 1 1919, subject to call after Sept. 1 1912. Certified check for 5%
Surfacing Bonds.
of bonds bid for, payable to the City Treasurer, is required. Purchaser to
Surfacing Dist. No. 3-Bond No. 63.
accrued interest. Official circular states that the legality of this issue
pay
Curbing Bonds.
has not been questioned: also that the principal and interest of previous
South Side Curbing Dist. No. 3-Bonds Nos. 11 to 27 inclusive.
issues have been promptly paid.
Park Bonds.
Bridgewater, Oneida County, N. Y.-Bond Sale.-The
Highland Park Dist.-Bond No. 278.
West Winfield National Bank in West Winfield was awarded
at par the $1,600 43% highway
--......•110.m.--__
-construction bonds offered
Bond Proposals and Negotiations this week on Jan. 28 and described in V. 92, p. 273. Bonds are dated
April 1 1911. Interest annual. Maturity $400 on April 1
have been as follows:
in each of the years 1913, 1915, 1917 and 1919.
Broken Bow, Ouster County, Neb.-Bond Sale.-The
State of Nebraska during January purchased on a 432%
basis $15,000 43/
2% school and $10,000 5% water and cityhall 10-20-year (optional) bonds. The $15,000 issue is
dated April 1 1910 and the $10,000 issue Jan. 1 1911.
Bryan, Brazos County,Tex.-Bond Sale.-We see it stated
that this city has made arrangements to sell the $33,000 4%
20-40-year (optional) coupon water, light and sewer-plant
bonds dated May 1 1909 and which were offered without
City Say. Inst.. Albany_$10,000 success on Aug. 10 1910. See V. 91, p. 476:
(
Nat. Commercial Bk., Albany.$50,000Alb.
10,000
__
Albany_
Bk.,
Say.
Albany
25,000
Albany
Bk.,
N. Y.State Nat.
Bucyrus, Crawford County, Ohio.-Bond Offering.-ProUnion Trust Co., Albany_ _ _ _ 25,000 Exch. Say. Bank, Albany___ 10,000
Washington Pk. Sink. Fund.. 25,000 Home Say. Bank, Albany___ 10,000 posals will be received until 12 m. Feb. 21 by H. A. Barth,
10,000
Albany_
Bk.,
Farm.
&
Mech.
Water Debt Sinking Fund_ _ _ 25,000
City Auditor, for $25,000 43/2% coupon (city's portion)
Albion, Calhoun County, Mich.-No Bonds Recently funding street-improvement bonds.
city
this
that
Authorized.-Some of the newspapers report
Denomination $500. Date Dec. 1 1910. Interest March 1 and Sept. 1
recently authorized the issuance of $30,000 bonds. We are at the City Treasurer's office. Maturity $1,000 each March 1 and $1,500
Sept. 1 from 1914 to 1923 inclusive. Certified check for $100, payable
each
that
securities
informed, however, that these are the same
to G. Goldsmith, City Treasurer, is required. Bonds will be delivered
were sold on Aug. 18 1908 to A. B. Leach & Co. of Chicago. Feb. 22. Purchaser to pay accrued Interest.
See V. 87, p. 694.
Buffalo, N. Y.-Bond Sales in 1910.-During the year 1910
Andrews County Common School District No. 1, Tex.- this city issued new loans aggregating $3,749,003 90, conBond Sale.-This district sold $5,000 5% 10-year bonds on sisting of $3,184,950 94 permanent bond issues and $564,Feb. 10 to the State School Fund at par and interest. These 052 96 temporary loans. Those issues, the sale of which has
securities were registered by the State Comptroller on Feb. 11. not previously been reported by us, are as follows:
Title of BondDate.
Rate. Amount.
Maturity.
Annapolis, Md.-Bonds Awarded in Part.-A bid of par Temporary
loan
Jan. 25 1910
July 1 1910
was received on Feb. 10 from the Annapolis Banking & Certificate of Indebtedness_Feb. 1 1910
5
20
030
2,
4%
%
4%
July 1 1910 4
10,000
July 1 1910 4%
Feb. 1 1910
Trust Co. for $4,000 of the $20,000 4% street-improvement Temporary loan
10.600
Temporary loan
Feb. 1 1910
July 1 1910 4%
bonds
The
bid
for
334.
map.
92,
V.
in
described
bonds
25,000
Certificate of indebtedness Mch. 1 1910
July 1 1911 4%
25,000
July 1 1911 4%
Certificate of indebtedness._April 1 1910
ture on July 1 1918. Interest Feb. 10 and Aug. 10.
July 1 1911 4% 100.000
Certificate of indebtedness_ _April 1 1910
20,000
Asbury Park, Monmouth County, N. J.-Bond Sale.-The Certificate of indebtedness_April 1 1910
July 1 1911 4%
Refunding City & Co. Hall_ _June 15 1910 June 15 '11-'30 4% 125,000
$75,0004% 40-year coupon (with privilege of registration) Water
June 15 1960 4% 180,000
June 15 1910
55,000
July 1 1911 4%
improvement bonds described in V. 92, p. 273, were disposed Non-Negotiable
Sept 23 1910
The issue of $100,000 refunding water bonds, sold to the Security Trust
of on Feb. 13 to R. M. Grant & Co. of New York City at Co.
in our list of loans for December. should be
included
and
Rochester
of
101.22 and accrued interest-a basis of about 4.435%. The eliminated from the same, the purchase not having been concluded that
month.
following bids were received:
Bond Sales in January 1911.-In last week's "Chronicle,"
R. M. Grant & Co., N. Y_ __a101.22 Asbury Park & Ocean
Grove Bank, Asbury Pk_a101.0625
S. A. Kean & Co., Chicago__ 102
page 335, we reported the bonds sold to the Sinking Fund in
A. B. Leach "do Co., N. Y__a100.081
January. In addition to the loans taken by the Sinking
a And accrued interest.
Fund the following 4% loans were negotiated at par last
. Attleboro, Bristol County, Mass.-Description of Bonds.- month, having been purchased by sundry parties:
The $50,000 sewer and $20,000 water 4% bonds awarded on $40,000 00 certificates of indebtedness for the purchase of sites, dated
13 1911 and due July 1 1911.
Feb. 10 to Hayden, Stone & Co. of Boston at 104.86 (V. 92, 72,026 84 Jan.
non-negotiable loan for the purchase of sites, dated Jan. 13 1911
p. 407), are in denominations of $1,000 each. Date July 1
and due July 1 1911.
1910. Interest semi-annual. The $50,000 issue matures
Burnet County (P. 0. Burnet), Tex.-Bond Offering.$5,000 in 1925, $7,000 yearly from 1926 to 1930 inclusive, J. G. Cook, County Judge, is offering at par and interest,
$6,000 in 1931 and $4,000 in 1932, and the $20,000 issue $18,000 4 JA% 5-40-year (optional) bridge construction
matures $1,000 yearly from 1911 to 1930 inclusive.
bonds. These securities are to pay part of the cost of
Belle Center, Logan County, Ohio.-Bond Sale.-On Feb.6 building the Colorado bridge and Llano County has voted
bonds
the $2,500 5% 1-5-year (serial) coupon street-crossing
to issue bonds to pay the remaining portion. See V. 92,
described in V. 92, p. 203, were awarded to H. J. Mack at p. 134.
Denomination $1,000. Date Jan. 10 1911. Interest annually on April
102 and accrued interest. The following bids were received.
Ada, Pontotoc County, Okla.-Bond Sale.-On Feb. 7
the $150,000 5% 25-year water-works-extension bonds
mentioned in V. 92, p. 334, were awarded to Sutherlin & Co.
of Kansas City, Mo., at 95 and accrued interest. Bonds are
dated March 1 1911.
Albany, N. Y.-Bond Sale.-On Feb. 14 the $200,000 4%
1-20-year (serial) registered high-school-building bonds
described in V. 92, p. 334 were awarded to A. B. Leach & Co.
of New York City at 100.091 and accrued interest. Offers
to purchase the following blocks at par were also received.
H. J. Mack
$2,550 001Stacey & Braun, Toledo__ _$2,519 60
M.S. Pond, Somerset
2,549 01-Belle Center Bk. Co.. Belle
2,515 25
Security Savings Bank &
Center _
Trust Co., Toledo
2,528 25 New First Nat. Bk., Columb.2,515 00
2,505 00
Bart°,Scott & Co.. Columb. 2.527 00 Ada M. Duff
Belle Plaine,.Benton County, Iowa.-Bond Election.-A
resolution providing for an election in March to vote on a
proposition to issue $10,000 sewer and water-improvement
bonds has, it is stated, been passed by the City Council.
Benson, Douglas County, Neb.-Bond Election.-Reports
state that an election will be held to vote on the question of
issuing $5,000 fire-apparatus bonds.
Boston, Thomas County, Ga.-Bond Sale.-Proposals
were advertised for until March 1 for the $12,000 school
bonds, bids for which were rejected on Aug. 1 1910. (V. 91,
p. 351.) We received a letter from the Mayor on Feb. 1,
however, stating that the issue was Jold at private sale
"two days ago."
Denominatton $1,000. Date July 9 1910 Interest annual.
20 years. Certified check for $100 is required.
Maturity
12 at the State Treasurer's office or at the County Treasurer's office, at
the option of the county. Total debt, not including this issue, $15,000.
Assessed valuation 1910, $8,188,525
Burnet County Common School District No. 15, Tex.Bond Sale.-The $800 5% 5-20-year (optional) bonds registered by the State Comptroller on Dec. 20 1910 (V. 91,
p. 1788) have been purchased by the Burnet County Permanent School Fund.
Cairo, Grady County, Ga.-Bond Sale.-J. B. McCrary
& Co. of Atlanta were awarded at par on Dec. 23 1910 the
$6,000 11-20-year (serial) electric-light and $9,000 22-30-year
(serial) water-works extension bonds offered on July 28 1910
and described in V. 91, p. 228.
Caldwell, Noble County, Ohio.-Bond Sale.-The $5,304 43 5% Cumberland Street improvement-assessment
bonds described in V. 92, p. 204, were sold on Feb. 3 to
Seasongood & Mayer of Cincinnati at 103.036 and accrued
interest-a basis of about 4.40%. A list of the bidders and
the premiums offered by the same follows:
THE CHRONICLE
FEB. 18 1911.
Seasongood & Mayer, Cin___$161 07 C. E. Ketterer
$107 00
106 57
Somerset Bank, Somerset___ 154 35 Citizens' N. Bk., Caldwell
103 26
New First Nat. Bk., Colum__ 136 00 Security S.B.& Tr.Co., Tol
131 81 Otis & Hough, Cleveland_ _ _ _ 101 00
Stacy & Braun, Toledo
All bidders offered accrued interest in addition to their bids. Maturity
$530 44 yearly on Dec. 27 from 1911 to 1920 inclusive.
Calexico, Imperial County, Cal.-Price Paid for Bonds.The price paid by J. H. Adams & Co. of Los Angeles for the
$35,000 6% 1-35-year (serial) gold sewer-system bonds, the
sale of which was reported in V. 92, p. 274, was par.
Camden County (P. 0. Camden), N. J.-Bond Sale.-On
coupon or registered armory-site
Feb. 8 the $30,000 4
bonds described in V. 92, p. 274, were awarded to R. M.
Grant & Co. of New York at 103.078. Maturity Feb. 1 1926.
Canaan Township School District, Athens County, Ohio.Bond Offering.-Proposals will be received until 12 m.
Feb. 25 (to be sold on March 1) by L. G. McConkey, Clerk
Board of Education (P. 0. Athens R. F. D. 7, Box 73), for
$5,000 5% coupon school-building bonds.
Authority Section 7629, General Code. Denomination $500. Date
March 1 1911. Interest semi-annual. Maturity $500 yearly on March 1
from 1912 to 1921 Inclusive. Certified check for 1200, drawn on some
bank in Athens County, and made payable to the Township Treasurer, is
required.
479
Denomination $843 96. Date Feb. 20 1911. Interest semi-annuap..
Maturity $843 96 yearly on Feb. 20 from 1911 to 1920 inclusive. Certified
check for 10% of bonds bid for, payable to the Village Treasurer, is re-quired. Purchaser to pay accrued interest and furnish blank bonds at
his own expense. Total debt at present, $16,500.
Cynthiana, Posey County, Ind.-Bond Sale.-According
to reports the Cynthiana Banking Co. in Cynthiana was
recently awarded $4,000 electric-light-plant-erection bonds.
Danbury Township School District (P. 0. Danbury),
Ottawa County, Ohio.-Bond Sale.-On Feb. 11 the $20,000
41A% coupon school-building bonds described in V. 92, p.
335, were awarded to the Security Savings Bank & Trust Co.
in Toledo at 102.88 and accrued interest. Other bids received were as follows:
First Nat. Bank, Cleve_ _ _$20,577 25I Citizens' S.D.& Tr.Co.,Tol$20.500 50
Tillotson&WolcottCo.,Cle. 20,570 00 Otis & Hough. Cleveland.. 20,465 00
Stacy & Braun, Toledo__- 20,557 00 C.E.Denison & Co.,Cleve_ 20,414 75
Seasongood & Mayer, Cin_ 20,526 00 Marblehead Bk. Co., Marb 20,200 00
Maturity $1,000 yearly on Feb. 1 from 1912 to 1921 Inclusive and
$2,000 yearly on Feb. 11 from 1922 to 1926 inclusive.
Dansville, Livingston County, N. Y.-Bonds Proposed.Reports state that this village will issue water-system bonds
in an amount not to exceed $3,200.
Danville, Vermilion County, I/1.-No Bond Election.-We
are advised that there is no truth in the reports that an
election would be held Feb. 2 to vote on the question of
issuing $25,000 sewer bonds.
Decatur, Macon County, Ill.-Bonds Offered by Bankers.We learn through a recent circular issued by Chas. S. Kidder & Co. of Chicago that they are offering to investors an
issue of $9,900 5% paving bonds.
Carbondale, Lackawanna County, Pa.-Bond Sale.-The
First National Bank in Carbondale was awarded at par and
accrued interest the $7,000 4% coupon refunding bonds
offered on Jan. 16 and described in V. 92, p. 132. Maturity
October 1917.
Chicopee, Mass.-Temporary Loan.-Yesterday (Feb. 17)
a loan of $50,000, due Nov. 30 1911, was negotiated with
Denominations $500 and $600. Date Jan. 15 1911. Interest annually at
Estabrook & Co. of Boston at 3.29% discount.
the City Treasurer's office. Maturity $1,100 yearly on Jan. 1 from 1912'
College Hill, Hamilton County, Ohio.-Bond Sale.-The to 1920 inclusive.
$4,000 4% 20-year coupon Cary. Ave. extension bonds,
Denison, Grayson County, Texas.-Bond Offering.-Prodescribed in V. 92, p. 205, were sold on Feb. 13 to the posals will be received until 8 p. in. Feb. 23 for the $50,000
Western-German Bank of Cincinnati at 100.777 and interest. 5% water-works-improvement "Series 2" bonds
mentioned
The following proposals were submitted:
in V. 92, p. 205.
West.-German Bk., Cin___$4,031 11 Atlas Nat. Bk., Cincinnatt_$4,011 25
Seasongood & Mayer, Cin_ 4,022 501 Well, Roth & Co., Cincinnati 4,000 00
4,021 00
M. E. Beman
Interest is payable at the Citizens National Bank in Cincinnati.
Conrad, Teton County, Mont.-Bond Offering.-Proposals
will be received until 2 p. in. April 10 by F. H. Pings, Mayor,
for $25,000 6% sewer bonds.
Date Jan. 1 1911. Interest semi-annually on Jan. 1 and July 1. Maturity 20 years, subject to call, however, $3,000 in 5 years, $5,000 in
10 years and $5,000 in 15 years. Bid must be unconditional. Certified
check for the full amount of bid is required.
The official notice of this bond offering will be found among
•
the advertisements elsewhere in this Department.
Conroe Independent School District (P. 0. Conroe), Montgomery County, Tex.-Bond Sale.-On Feb. 10 the State
School Fund purchased $25,000 5% 10-40-year (optional)
bonds at par and accrued interest.
Denominatin 3250. Date July 15 1910. The bonds were registered
by the Comptroller on Jan. 20.
Conway, Faulkner County, Ark.-Description of Bonds.The $68,000 1-20-year (serial) water-works-improvement
bonds recently awarded to the Southern Trust Co. of Little
Rock at 99 (V. 92, p. 274) bear interest at 6%. Denomination $1,000. Date Jan. 11911. Interest semi-annual.
Conway, Beaver County, Pa.-Bonds Not Sold.-An issue
of $20,000 5% water-plant bonds which was offered on
June 6 1910 has not yet been sold, we are advised.
Copiah County (P. 0. Hazlehurst), Miss.-Bond Sale.On Feb. 6 the $75,000 5% coupon Road District No. 1 bonds
described in V. 92, p. 205, were awarded at par as follows:
$25,000 to the Bank of Hazlehurst in Hazlehurst, $25,000 to
the Bank of Wesson in Wesson,$15,000 to the Crystal Springs
Bank in Crystal Springs and $10,000 to the Merchants' &
Planters' Bank in Hazlehurst. Bids were also received from
the Wm. R. Compton Co. of St. Louis and S. A. Kean & Co.
of Chicago. Maturity $500 yearly from 1922 to 1935 inclusive and $68,000 in 1936.
Crescent City School District, Del Norte County, Cal.Bond Offering.-Proposals will be received until March 11, it
is stated, by the Board of Supervisors (P. 0. Crescent City),
for the $30,000 5% high-school-construction and furnishing
bonds voted on Nov.8 1910(V. 91, p. 1399). Denomination
$500. Maturity 1930.
Cuyahoga County (P. 0. Cleveland), Ohio.-Bond Sale.On Feb. 11 $2,900 assessment and $29,065 county's portion
Independence & Parma Town Line Broadview Road No. 3
improvement bonds were sold, the former issue to the First
National Bank of Cleveland at 101.991 and the latter issue
to the Security Savings Bank & Trust Co. of Toledo at
102.238. The following bids were received:
Premium on
$2,900
bonds.
$57 75
First National Bank, Cleveland
Security Savings Bank do Trust Co., Toledo
Tillotson & Wolcott Co., Cleveland
Davies-Bertram Co., Cincinnati
Hayden, Miller & Co , Cleveland
Seasongood & Mayer, Cincinnati
New.First National Bank, Columbus
Stacy & Braun, Toledo
Breed & Harrison, Cincinnati
Provident Savings Bank & Trust Co., Cincinnati_
a Bid said to be conditional.
a63 80
57 00
48 00
44 00
33 55
29 29
Premium on
$29,065
bonds.
$639 75
650 50
627 80
631 00
636 00
625 00
639 00
631 33
610 30
545 84
Denomination $500. Interest semi-annually in New York. Maturity
$2,000 yearly on July 1 from 1911 to 1935 inclusive. Certified check for
$2,500, payable to J. D. Yocom, City Secretary, is required. Bids must
be unconditional. Official circular states that certified copy of records of
proceedings and certificate of legality by Wood & Oakley of Chicago will
be furnished to the purchaser.
Douglasville, Douglas County, Ga.-Bonds Not Sold.No satisfactory bids had been received up to Feb. 4 for the
$20,000 5% 30-year gold coupon or registered water-works
bonds offered on Jan. 20 and described in V. 92, p. 205.
Duluth, St. Louis County, Minn.-Bonds Voted.-The
election held Feb. 7 resulted in favor of the proposition to
issue the $300,000 43% water and light extension bonds
mentioned in V. 92, p. 206. The vote was 2,813 "for" to
1,989 "against." Maturity April 1 1941.
Durham School District, Butte County, Cal.-Bond Sale.On Jan. 4 the $11,000 5% 1-11-year (serial) school-building
bonds dated Jan. 2 1911, and described in V. 91, p. 1790,
Were awarded to E. H. Rollins & Sons of San Francisco at
100.07 and accrued interest.
East Auburn School District, Placer County, Cal.-BondsVoted.-A proposition to issue $7,500 5% 1-15-year (serial)
bonds was unanimously adopted by 39 votes at an election
held Feb. 4. Denomination $500. This district has no
debt at present.
East Cleveland, Ohio.-Bond Offering.-Proposals will be
received until 12 m. Feb. 28 by Kline F. Leet, 'Village Clerk,
No. 1413 Williamson Bldg., Cleveland, for the following
41
/
4% bonds:
$10,000 motor-fire-engine bonds. Denomination $1,000. Dated Nov. 1
1910. Maturity $1,000 yearly on Nov. 1 from 1921 to 1930 inclusive.
10,000 fire and police-signal-apparatus bonds. Denomination $500.
Date May 1 1910. Maturity $500 yearly on May 1 from 1921 to
1940 inclusive.
Authority, Section 3939, General Code. Interest semi-annually at the
Superior Savings & Trust Co. in Cleveland. Certified check on a bank in
Cuyahoga County for 10% of bonds bid for, payable to the Village Treasurer, is required. Purchaser to pay accrued interest.
East Milwaukee (P. 0. Milwaukee), Milwaukee County,
Wis.-Bond Sale.-On Feb. 6 the Hanchett Bond Co. of
Chicago was awarded $20,000 5% 1-20-year (serial) coupon
general fund bonds at 100.025. Denomination $1,000.
Date March 1 1911. Interest annually at the Village
Treasurer's office.
Easton, Talbot County, Md.-Bond Election.-An election •
will be held Feb. 23 to vote on the following propositions:
(a) To issue $40,000 4% 1-40-year (serial) coupon sewersystem-construction bonds in denominations of $1,000 each,
and (b), if found necessary, to issue an additional $3,000
notes for the completion of the system.
Eatontown School District (P. 0. Eatontown), Monmouth
County, N. J.-Bond Sale.-On Jan. 16 $14,000 4% school
bonds were awarded to Harry Campbell at par.
Denomination $1.000. Interest January and July.
yearly on Jan. 1 from 1912 to 1925 inclusive.
Maturity $1,000
Eldorado Township School District No. 67 (P. 0. El
Dorado), Saline County, Ill.-Bond Sale.-We are advised
that John Nuveen & Co. of Chicago was awarded the $18,000
5% school-building and furnishing bonds offered on June 15
1910. (V. 90, p. 1569.)
Denominations $500 and $300. Date June 1 1910. Interest annual..
Maturity on June 1 from 1912 to 1922 inclusive.
Ellis County (P.0. Waxahatchie),Tex.-Bond Offering.Crooksville, Perry County, Ohio.-Bond Offering.-Proposals will be received until 12 m. Feb. 25 by Fred.Cooke, Proposals will be received until 2 p. m. March 10 by J. C.
Village Clerk, for $8,439 60 5% coupon State Street improve- Lumpkins, County Judge, for the following 5% roaddistrict bonds:
ment assessment bonds.
480
THE CHRONICLE
$25,000 bonds of District No. 2.
;16,500 bonds of District No. 1.
69.000 bonds of District No. 4.
220,000 bonds of District No. 3.
103.000 bonds of District No. 6.
83,000 bonds of District No. 5.
44,000 bonds of District No. 7.
Denomination $1,000. Date Oct. 10 1910. Interest semi-annually in
Austin or at the National Park Bank in New York City, at option of
holder. Maturity 40 years, subject to call after 10 years. Certified check
on a national bank or trust company for 2% of bonds bid for, payable to
the County Judge, is required. Purchaser to pay accrued interest.
[VOL. Lxxxxii.
they had advertised them in the proper manner and refused
to do anything to correct the defect, but instead re-sold the
bonds to local banks, as stated above.
Garland, Dallas County, Texas.-No Action Yet Taken.No action has yet been taken toward the issuance of the
$15,000 school-building-improvement bonds mentioned in
V. 91, p. 1049.
Geneva Township (P. 0. Geneva), Ashtabula County,
Ohio.-Bond Offering.-Proposals will be received until 12 in.
Feb. 21 by the Township Clerk for $1,800 5% park-improvement bonds.
The bonds mentioned above represent the unsold portions
of the 7 issues of bonds aggregating $582,500,offered without
success on Dec. 11910. See V. 91, p. 1586.
Elkhart School City (P. 0. Elkhart), Elkhart County, Ind.
-Bond Sale.-On Feb. 8 $90,000 4%. 5-10-year (serial)
Authority Section 3425, Code of Ohio. Denomination $100. Date
school-building bonds were awarded to the Harris Trust & Feb.
15 1911. Interest annual.
Savings Bank of Chicago at 101.78. Denomination $1,000. interest to be paid by purchaser. Maturity 4 years from date. Accrued
Date Feb. 15 1911. Interest semi-annual.
Girard, Macoupin County, Ariz.-Bonds Voted.-It is
Emmet County (P. 0. Estherville), Iowa.-Bond Sale.- stated an election held Feb. 14 resulted in favor of a propobonds.
sition to issue $3,000 fire-equipment bonds by a majority of
This county has sold $33,000 432% coupon funding
Denomination $1,000. Date Jan. 2 1911. Interest semi-annually at 186 votes.
the office of Geo. M. Bechtel & Co. of Davenport.
Glen Lake Irrigation
Lincoln County, Mont.Essex County, Mass.-Temporary Loans.-Dispatches Bonds Not Yet Sold.-WeDistrict,
are advised under date of Jan. 31
state that the following loans have been negotiated with the that the $112,000 6% irrigation bonds offered
on July 1 1910
Merchants' National Bank of Salem: $100,000 due Nov. 15 (V. 90, p. 1437) have not yet been
disposed of.
1911 at 3.15% discount, $100,000 due Dec. 1 1911 at 3.18%
Gloucester, Essex County, Mass.-Bond Sale.-On Feb. 10
discount and $100,000 due Dec. 15 1911 at 3.18% discount.
the $20,000 4% 1-10-year (serial)
Euclid, Cuyahoga County, Ohio.-Bond Offering.-Pro- ciency 1910 and improvement 1911 coupon municipal defiloan bonds, dated Dec. 1
posals will be received until 12 m. Feb. 27 by Fred H. Shoaff, 1910 and described in V. 92, p. 408,
were awarded to E. H.
Village Clerk, for $1,628 432% coupon Montclair Road water- Rollins & Sons of Boston at 101.556. Other
bids received
main assessment bonds.
were as follows:
Authority, Section 3914, General Code. Denomination $500, except one
bond of $128. Date "day of sale.' Interest April 1 and Oct. 1 at the
Village Treasurer's office. Maturity $128 Oct. 1 1912 and $500 on Oct. 1
In each of the years 1915, 1918 and 1921. Certified check for 10% of bonds
bid for, payable to the Village Treasurer, is required. Purchaser to pay
accrued interest.
Bond Sale.-On Jan. 9 Otis & Hough of Cleveland were
awarded the three issues of 432% coupon water-mainconstruction assessment bonds aggregating $8,741, described
in V. 91, p. 1790. The price paid was $8,891, or 101.716.
Falls City, Polk County, Ore.-Bond Sale.-On Feb. 7 the
$25,000 6% 20-year water-works bonds described in V. 92,
p. 206, were awarded to Parson, Son & Co. of Chicago at
100.204. Purchaser to furnish printed bonds. Other bids
received were as follows:
S. A. Kean & Co., Chicago_•$25,3001Robt. A. Kean, Chicago_ ___$24,500
John Nuveen & Co., Chic__ 25,205 Cutter, May eo Co.. Chicago_ 23,500
Cape Ann Nat. Bank. Glouc.101.5511 Merrill, Oldham & Co., Bos_ _101.089
Biodget & Co., Boston____101.283 Blake Bros. & Co., Boston__100.95
E. E. Elder
101.25
City Nat. Bank, Gloucester_ _100.63
Grand Rapids, Kent County, Mich.-Bond Offering.Proposals will be received until 4 p. m. Feb.20 by James
Schriver, City Clerk, for $100,000 4% coupon park and
playground bonds. These bonds are part of an issue of
$200,000 voted on Nov. 8 1910. See V. 91, p. 1400.
Denomination $1,000. Date Feb. 15 1911. Interest semi-annually at
the City Treasurer's office. Maturity 20 years. Bonds are exempt from
all taxation. Certified checks for $3,000, payable to City Treasurer, Is
required. Official circular states that this city has never defaulted payments on any bonds on maturity and the legality of a bond issue has never
been questioned.
Grant's Pass, Josephine County, Ore.-Bond Sale.-On
Dec. 29 1910 the $45,730 25 Sixth St. and $4,203 79 G Street
6% coupon improvement bonds offered on June 16 1910 and
described in V. 90, p. 1569, were awarded to the Warren
• Also furnish printed bonds.
Construction Co. for the First National Bank in Cleveland at
Bonds are dated Feb. 15 1911.
Fisher County Common School Districts, Tex.-Bond par and accrued interest.
Maturity May 1 1920, subject to call at any interest-paying period after
Sales.-On Feb. 10 the State School Fund bought at par May
1 1911.
and interest $1,000 District No. 46 and $600 District No. 42
Grayson County Common School District No. 91, Tex.5% 10-20-year (optional) bonds.
Bond Sale.-An issue of $1,500 5% 1-15-year (optional)
Flathead County (P. 0. Kalispell), Mont.-Bids.-The bonds was disposed of at par and interest on Feb. 10 to the
following bids were received for the $52,500 5% 10-20-year State School Fund.
(optional) coupon bridge-construction bonds awarded on
Greene County (P. 0. Catskill), N. Y.-Bond Sale.Jan. 10, as stated in V. 92, p. 206, to N. W. Halsey & Co. On Feb. 13 the three issues of 4% coupon bonds, aggregating
of Chicago at 103.16 and accrued interest and blank bonds:
$25,000, and described in V.92, p.336, were awarded $24,000
N.W.Halsey & Co., Chic_$54,159 00 Woodin,MoNear&Moore,
$53,590 00 to Lee F. Betts at par and accrued interest and $1,000 to
Chicago
_ 54,113 00
A. B. Leach & Co.,
Wells & Dickey Co., Minn. 53,582 00 A. J. Weeks at 1003 and accrued interest.
ChicHarris Trust & Savings
54,038 25 Seasongood & Mayer, Ctn. 53,561 00
Bank, Chicago
E.H.Rollins 53 Sons,Deny 53,769 00 John Nuveen & Co., Chi__ 53,430 00
Bids were also received from C. H. Coffin, S. A. Kean & Co. and Robert
A. Kean, all of Chicago, but these were not considered, we are advised,
as there were no certified checks enclosed.
Maturity on Feb. 1 as follows: $10,000 In 1933 and 1,33 and $5,000 in
1934.
Grover Hill School District (P. 0. Grover Mil),Paulding
County, Ohio.-Bond Sale.-On Feb. 9 $17,500 5% schoolFlint, Genesee County, Mich.-Bond Sale.-The fol- building bonds were awarded to Spitzer, Rorick & Co. of
lowing bids received on Feb. 8 for the $400,000 4% 20-year Toledo at 105.011. The following'bids were received:
coupon tax-free water-works-extension and improvement Spitzer, Rorick & Co., Tol__$18,3771Hayden, Miller & Co., Cleve_$18,230
Date Feb. 7 1911. Interest March 15 and Sept. 15. Maturity from
bonds described in V. 92, p. 274, were rejected:
1914 to 1932 inclusive.
Genesee County Savings Bank, Flint
$415,000 for 4;is
Haddon Heights, Camden County, N.J.-Bond Election.A. B. Leach & Co., Woodin, MeNear & Moore and E. H. Rollins & Sons,
Chicago_ _$400,000 less $18,000 for expenses for 4s, or $408,400 for 430 On Feb. 28 this borough, it is stated, will vote upon a proIt is stated that the bonds were subsequently awarded to position providing for the issuance of $60,000 street -improvealsyndicate composed of H. W. Noble & Co. and W. E. Moss ment bonds.
of Detroit and Otis & Hough of Cleveland at 100.90
Hampden County (P. 0. Springfield), Mass.-Bond Offerfor 43s.
ing.-Proposals will be received until 10 a. m. Feb. 28 by
Florence, Louderdale County, Ala.-Bonds Voted.-The Fred. A. Bearse, County Treasurer, for $200,000 4% coupon
election held Feb. 7 resulted in favor of the question of issuing court-house bonds.
the $15,000 5% 20-year school-construction bonds mentioned
Authority, Chapter 451, Acts of 1909. Coupon bonds may be exchanged
for registered certificates at the option of purchaser. Denomination $1,000.
inIV. 92, p. 206. The vote was 266 "for" to 13 "against."
Date March 1 1911. Interest semi-annually at the Old Colony Trust Co.,
Florence Independent School District (P. 0. Florence), Boston. Maturity $10,000 yearly on March 1 from 1913 to 1932 inclusive.
Certified check for 2% of issue, payable to the County Treasurer, is reTexas.-Bonds Registered and Sold.-The State Comptroller quired.
Bonds are exempt from taxation In Massachusetts and will be
registered $13,000 5% 20-40-year (optional) bonds on Feb. 1. certified as to genuineness by the Old Colony Trust Co., which will further
that the legality of this issue has been approved by Ropes, Gray &
These securities were disposed of on Feb. 10 to the State certify
Gorham of Boston, a copy of whose opinion will accompany the bonds when
delivered, without charge to the purchaser.
School Fund at par and interest.
Van
Buren
and
Bridge
District (P. 0. Fort
Fort Smith
Hanford, King County, Cal.-Bonds Defeated.-The three
Smith), Crawford and Sebastian Counties, Ark.-Descrip- issues of bonds, aggregating $85,000, mentioned in V. 91,
$600,000
5%
-The
Bonds.
bridge-construction
bonds p. 1791, were voted down at an election held Feb. O.
tion of
awarded on Dec. 20 1910 to the Mercantile Trust Co. of St.
Hansford County Common School
1724)
are
dated
Jan.
1
p.
91,
1911
and
mature
on Bond Sale.-The State School Fund District No. 7, Tex.
Louis (V.
purchased $1,000 5%
follows:
as
Jan. 1
(optional) bonds on Feb. 10 at par and accrued
-year
5-20
'$15 000 yearly from'1913'to 1916 inclusive, $23,000 yearly from 1917 to interest. These securities were
registered by the State
1921 inclusive, $35,000 yearly from 1922 to 1928 inclusive and $50,000
yearly from 1927 to 1931 inclusive. Interest semi-annually at place uesig- Comptroller on Feb. 11.
nated by the purchaser. Bonded debt, this issue.
Hartford, Conn.-Temporary Loan.-This city recently
- borrowed $155,000 for six
N Galveston County (P. 0. Galveston), Tex.-Bond Sale.
months at 33
4%.
We understand that the $500,000 5% road bonds of this
Hecla, Brown County, So. Dak.-Bond Sale.-R. A. Kean
county have been sold to the Galveston banks. As stated
some months ago (V. 91, p. 1114), these bonds were awarded of Chicago has been awarded at par the $8,000 5% 5-15-year
to 'Olen & Co. of Chicago and later were refused by them. (optional) coupon water-works bonds offered on Jan. 23 and
It appears that Dillon, Thompson & Clay of New York, the described in V. 92, p. 207. Bonds are dated Jan. 1 1911.
Hood River Wasco County, Ore.-Bond Offering.-Profirm's counsel, would not approve the legality of the issue
for the reason that the same had not been advertised as posals will be received until 12 In. April 4 by H. B. Langille,
required by law.NiThe.county contended, it is said, that City Recorder, for the $90,000 coupon bonds voted on
&ro.
481
THE CHRONICLE
FEB. 18 19111
Nov. 12 1909 for the purpose of installing a municipal
water system. V. 89, p. 1368.
Authority, Sections 102 and 106, City Charter, also election held Nov. 12
1009. Denominations $100 to $1,000, to suit purchaser. Date July 1
1911. Interest (rate not to cexeed 6%), payable semi-annually at the
City Treasurer's office or in New York or Chicago, at option of the purchaser. Maturity 30 years, subject to call after 10 or 20 years, as the
Council shall elect. Certified check for $1,000, payable to the City Treasurer, is required. Official circular states there is no•controversy pending
affecting the validity of these bonds, the corporate existeneo of the city,
the titles of the officials to their offices, or the boundaries of thecity. These
bonds were offered but not sold on July 20 1910. See V. 91, p. 541.
Houlton, Aroostook County, Me.-Purchaser of Bonds.The $14,000 4% bonds, the sale of which was reported in
V. 92, p. 336, were purchased, we are now advised, by E. H.
Rollins & Sons of Boston.
Denomination $1,000.
Maturity Nov. 1 1930.
Date
Nov. 1
1910.
Interest semi-annual.
Huron, Beadle County, So. Dak.-Bonds Not Sold.-The
$40,000 5% 20-year water-works bonds offered on Jan.30,
and described in V. 92, p. 275, have not yet been sold, we are
advised under date of Feb. 10.
Iowa City, Johnson County, Iowa.-Bonds Authorized.The City Council recently authorized the issuance of $2,436 25 6% paving bonds, due part yearly on April 1 from
1912 to 1917, inclusive.
Ironton, Lawrence County, Ohio.-Bond Sale.-On Jan. 28
$1,700 5% 1-10-year (serial) sidewalk bonds were awarded
to E. F. Herschel of Ironton for $1,741, the price thus being
102.411. Bids were also received from:
.
Ohio Valley Bk., Portsmouth_$1,7401Vinton Banking Co., Vinton_ _$1,740
Several other bids were received too late for consideration.
Denomination $170. Date Dec. 1 1910. Interest semi-annual.
Itasca County Common School District No. 1 (P.0. Grand
Rapids), Minn.-Bond Offering.-Proposals will be received
until 8 p. m. March 6 by James D. Doran, Clerk, for $35,000
bonds to erect and equip a school-house in the village of
Cohasset.
Denomination $1,000. Interest (rate not to exceed 5%) semi-annual.
Maturity 15 years. Certified check for $350, payable to Frederick E.
Reusswig, Chairman of School Board, is required.
Ithaca, Tompkins County, N. Y.-Bond Sale.-On Feb. 8
the $157,000 4M% 1-16-year (optional) water bonds described in V. 92, p. 275, were purchased by Parkinson & Burr
of New York City for $157,017 53 (100.011) for 4.35s.
Jacksboro, Jack County, Tex.-Bond Sale.-The State
School Fund, offering 97 and interest, was the successful
bidder on Feb. 10 for $27,500 5% 10-40-year (optional)
water-works bonds of this district.
Jacksonville, Fla.-Bond Offering.-Additional details are
at hand relative to the offering on March 6 of the $100,000
5% gold coupon street-improvement bonds mentioned in
V. 92, p. 408. Proposals for these bonds will be received
until 3 p. m. on that day by W. M. Bostwick Jr., Chairman
Board of Bond Trustees.
Authority, election held July 18 1910; also an Act of the Legislature approved May 311905. Denomination $1,000. Date Oct. 1 1910. Interest
semi-annually in Jacksonville or New York City, at the option of the holder.
Maturity Oct. 1 1936. Bid must be made on a form furnished by the
Auditor of the Board of Bond Trustees or by Dillon, Thompson & Clay of
,orne
New York City. Certified check for 2% of bonds bid for, drawn on ,
bank in Jacksonville and made payable to the City Tresaurer, is required.
The genuineness of the bonds will be certified to by the United States Mortgage & Trust Co. of New York City and their legality has been approved by
Dillon, Thomson & Clay, a copy of whose opinion will be delivered to the
purchaser. Accrued interest to be paid by the successful bidder.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Jefferson School District (P. 0. West Jefferson), Madison
County, Ohio.-Bids.-The following bids were received
on Feb. 1 for the $25,000 43% coupon high-school-building
and furnishing bonds sold on that day to the First National
Bank of Cleveland at 104.251. (V. 92, p. 336):
First Nat. Bk., Cleveland.$26,062 75 I Wooster City Nat. Bank,
..
Rice Co. Sch. D. No. 89_ __ _
Rooks Co. Sch. D. No. 7_ _ _ _
Rooks Co. Sch. D. No.7_ __
Rooks Co. Sch. D. No.88_ _ _
Rooks Co. Sch. D. No.97___
Shawnee Co. Sch. D. No.46_
Stevens Co. Sch. D. No. 41_
Stevens Co. Sch. D. No. 42_
600
3,500
1,200
300
1,000
1,000
9,000
700
675
do
do
do
do
do
do
do
do
do
5
5
5
5
5
5
5
6
5
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan,
July
1
1
1
1
1
1
1
1
1
1917
1916
1917
1921
1916
1920
1921
1925
1925
The above bonds are subject to call at any time.
Kelso, Cowlitz County, Wash.-Bond Election.-A special
election will be held some time in March, according to reports, to allow the voters to determine whether or not bonds
shall be issued for the construction of a high-school.
Kenmore School District (P. 0. Kenmore), Summit
County, Ohio.-Bond Sale.-On Feb. 2 the $7,500 5%
coupon school-enlargement bonds described in V. 92, p. 207,
were awarded to the First National Bank in Cleveland for
$7,965 25 (106.203) and accrued interest-a basis of about
4.127%. Other bids received were as follows:
New First Nat. Bk., Col__ _$7,932 20 I Seasongood & Mayer, Cln37,914 00
Citizen's Nat. Bk., Wooster 7,930 00 Stacy de Braun,Toledo_ _ _ _ 7,90635
Prov.Sav.Bk.de Tr.Co., Cin_ 7,923 75C. E. Denison & Co., Cleve. 7,881 00
A bid of $7,968 85 was also received from an Akron party.
Maturity $1,500 yearly on Sept. 1 from 1917 to 1921 inclusive.
Keyport, Monmouth County, N. 3.-Bond Sale.-An issue
of $75,000 5% sewer bonds was disposed of at par last
month, $41,500 being awarded to the State of New Jersey
and the remainder to local investors. Denomination of
bonds, $500.
King County School District No. 120, Wash.-Bond Sale.
-The Treasurer advises us that the $5,000 2-10-year
(optional) school-building and furnishing bonds offered on
June 11 1910,and described in V. 90, p. 1570, were awarded
on July 1 1910 to the State of Washington at par for 6s.
Klickitat County School District No. 19, Wash.-Bond
Sale.-The State of Washington was awarded at par on
Sept. 1 1910 an issue of $11,500 53'2% refunding and building bonds which were offered on July 23 1910.
Denomination $1,000, except one bond of $500. Date Sept. 1 1910.
Interest annual. Maturity Sept. 1 1930, subject to call, however, before
that date.
Kokomo, Howard County, Ind.-Bond Sale.-According
to reports, on Feb. 15 $50,000 4% coupon sanitary-sewerconstruction bonds were awarded to the Harris Trust &
Savings Bank of Chicago at 101.388.
Denominations, 28 bonds of $1,000 each and 44 bonds of $500 each.
Date March 1 1911. Interest semi-annually at the Citizens' National
Bank in Kokomo. Maturity $12,500 on March 1 in each of the years 1916,
1921. 1926 and 1931.
Lakewood, Cuyahoga County, Ohio.-Bids.-The Village
Clerk informs us that the following bids were received on
Jan. 16 for the four issues of 5% assessment improvement
Wooster
$25,887 78
New First Nat. Bk., Col__ 26,033 00
that day to the MansBarto Scott dc Co., Col.._ 25,907 50 Seasongood de Mayer, Cin. 25,703 00 bonds aggregating $52,430 awarded on
(V. 92, p. 207.)
Jersey City, N. J.-Bids.-Other bids received on Feb. 3 field Savings Bank in Mansfield at 104.655.
Premium.
Premium.
4% 50-year gold coupon (with privilege Mansfield Savings Bk.,Mans$2.441
for the $150,000 41
_$1,997 20
Cleveland
00 Otis & Hough,
of registration) school bonds awarded on that day to White, First Nat. Bank, Cleve_ ___ 2,211 95 SeasongooddeMayer, Cincin 1,874 00
Well. Roth & Co., Cincin__a1.581 50
Weld & Co. of New York City for $153,781 (102.52) and Tillotson de Wolcott Co.,Cle 2,194 98 See.Sav.Bk.leTr.Co.,Toledo
x915 00
accrued interest. (V. 92. p. 336) were a=', follows:
a For $41,700 bonds. x For $22. 50 bonds.
R. M. Grant & Co., N. Y.$153,417 00 Harris,Forbesde Co.,N.Y.$152,151 00
12 m.
until
will
he
-Proposals
received
Offerings.
Bond
Ferris & White, N. Y.._ _ 152,010 00
Morgan, Livermore do Co..
153,375 00 A. B. Leach de Co., N. Y. 151.800 00 Feb. 27 by B. M. Cook, Village Clerk, for the following 5%
N. Y
E. H. Rollins de Sons, N.Y. 153,316 50 N. W. Halsey & Co., N.Y. 151,617 00 assessment bonds:
50 John D. Everitt de
Co.,N.Y.151,555 55
152,910
Koontz() Bros., N. Y
Biodget & Co., N.
152,683 50 Dominick & Dominick,
N.Y
Parkinson 8: Burr, N. Y. 152,446 50
151,500 00
Seasongood & Mayer, Cin. 152,340 00 W.N. Cola Fe Co., N. Y_ 151,400 00
$3,440 Riverside Road sewer-main-construction bonds. Denomination
$344. Maturity $344 yearly on Oct. 1 from 1912 to 1921 inclusive.
21,750 Summit Avenue paving bonds. Denomination $2,175. Maturity
$2,175 yearly on Oct. 1 from 1912 to 1921 inclusive.
1,440 Franklin Avenue water-main-construction bonds. Denomination
$288. Maturity $288 yearly on Oct. 1 from 1912 to 1916 inclusive.
The above bonds will be dated on the "day of sale." Interest semiannually at the Cleveland Trust Co. in Cleveland. Certified check for 5%
of bid is required.
Johnson City, Washington County, Tenn.-Description of
Bonds.-The $40,000 5% 20-year funding bonds awarded
on Jan. 12 to the Union Savings Bank & Trust Co. of Cincinnati at 100.25(V. 92, p. 408) are in denominations of $500
Proposals will also he received until 12 m. March 13 by
each and dated Feb. 1 1911. Interest semi-annual.
Kansas City, Kan.-Result of Bond Election.-The elec- B. M. Cook, Village Clerk, for $15,000 5% water-works-imtion held Feb. 14 resulted, local papers state, in favor of the provement bonds.
Denomination $1,000. Date "day of sale." Interest April 1 and Oct. 1.
propositiort to issue the $350,000 municipal-lighting-plant Maturity
Oct. 1 1926. Certified check for 5% of bonds bid for, payable
bonds and in the defeat of the $50,000 incinerating-plant, to the City Treasurer, is required.
$50,000 central tire station, $50,000 dike and $100,000 audiLaramie-Overland Municipal District (P. 0. Laramie),
torium bonds. See V. 92, p. 336. The vote was as follows: Albany County, Wyo.-Bond Offering.-Proposals will be
Light bonds-3,038 "for" to 1,891 "against" majority for, 1,147.
rece ved until 2 p. in. Feb. 20 by the Board of Directors for
Auditorium bonds-2,044 "for" to 2,583 "against"; majority against, 539.
E. D.
Fire station bonds-2,259 "for" to 2,575 "against"; majority against, 316. $2,500,000 6% bonds. Denominations $500 and $100.
Dike bonds-1,731 "for" to 2,824 "against"; majority against, 1,093.
President and N. H. A. Walker, Secretary Board of
is
Titus
Incinerating plant bonds-1,711 "for" to 2,812 "against"; majority
Directors.
against, 1,101.
482
THE CHRONICLE
[VOL. LxXxXii.
Lawrence, Essex County, Mass.-Temporary Loan.-The
'Old Colony Trust Co. of Boston has been awarded, it is
-stated, a temporary loan of $100,000 at 3.19% discount and
a premium of $1 45. Loan matures Oct. 10 1911.
Leavenworth, Leavenworth County, Kan.-Bond Sale.On Jan. 24 $9,469 29 5% street-improvement bonds were
awarded to the Wulfekuhler State Bank in Leavenworth at
from 100.50 to 102.
authorize the bonds and not merely a majority of those
participating at an election, as in this case.
Madison Lake, Blue Earth County, Minn.-Bonds Voted.It is stated that the election held Feb. 6 resulted in favor of
the proposition to issue the $6,000 water-works bonds mentioned in V. 92, p. 275. The vote was 71 "for" to 4
"against."
Mahoning County Road District No. 1, Ohio.-Bond Sale.
Denominations: 16 bonds of $500 each. 1 bond of $218 55, 12 bonds of
100 each and 1 bond of $50 74. Date Jan. 1 1911. Interest Feb. and -The following bids were received on Feb. 13 for the
Aug. Maturity from 1 to 10 years.
$125,000 4A% 1314-year (average) road-building and imLebanon, Lebanon County, Pa.-Bond Offering.-Pro- provement bonds described in V. 92, p. 208:
Name of Bidderposals will be received until 12 In. March 1 by Dan. M. Sharp,
Conditions.
Premiu in.
Cleveland Trust Co.-As soon as pending
is ended__53.213 60
City Clerk, for the $110,000 4% coupon sewerage bonds The
Otis 46 Hough, Cleveland-Subject to the finallitigation
decision of courts.._ 2,500 00
voted on Nov. 8 1910 (V. 91, p. 1401).
New First National Bank, Columbus-Subject to delivery
not
Denominations $1,000, $500 and $100.* Date April 1 1911. Interest
-semi-annually at the City Treasurer's office. Maturity $20,000 on April 1
in each of the years 1916, 1921, 1926, 1931 and 1936 and $10,000 April 1
1940. The city agrees to pay all taxes levied against the bonds,providing
the interest thereon, together with the taxes, shall never exceed 6%. Certified check for 5% of bonds bid for, payable to Paul G. Adams, Chlirmtn
of Finance Committee, is required. Bids to be made on blank forms furnished by the City Clerk. Bonds will be certified as to genuineness by the
Security Bank Note Co. of Philadelphia. Delivery April 1 1911.
later than March 5
5,555 00
Tillotson & Wolcott Co., Cleveland-Withdrawn
5,304 38
Hayden, Miller & Co., Cleveland-Delivery not later than March 5 4,500 00
Well, Roth & Co., Cincinnati-That no
is now pending._ 4,400 00
S. A. Kean & Co. Chicago-Subject tolitigation
a prompt acceptance__ _ 3,762 50
The bonds were awarded to the Cleveland
Co., their bid being the
Trust
highest with conditions which the Road Commissioners
could accept.
The legality of the bonds is being attacked on the ground
that the law
under which they are Issued is an unfair one, making the City
of Youngstown pay 97% of the cost of the construction
the good roads in the four
townships which compose the district of whichofthe
city is a part.
Leflore County (P. 0. Greenwood), Miss.-Bond Sale.The bids submitted for the $60,000 5% bridge bonds offered
Malone School District (P. 0. Malone), Franklin County,
on Feb.6(V.92, p. 207) were as follows:
N. Y.-Bond Offering Postponed.-The offering of the
•Capital Nat. Bank, Jackson..$61,800 E. H. Rollins & Sons, Chic....-61,002 $55,500
4V2% building and improvement bonds, which was
Seasongood & Mayer, Cin_ __ 61,836 Woodin,MoNear&Moore,Chle. 60,950
Well, Roth 40 Co., Cincinnati. 61,502 Union Say. Bk. & Tr. Co_ __ _ 60,765 to have taken place Feb. 11 (V. 92,
P. 337), was postponed.
61,500 S. A. Kean FG Co., Chicago__ 60,750
R. W. Milisaps
IlfEanheim (P. 0. Dolgeville), Herkimer County, N. Y.Otis & Hough, Cleveland... 61,350 McCoy & Co., Chicago__
60.603
61,314 Win. R. Compton Co., Clio_ 60,237 Bond Sale.-On Feb. 1 the $6,000 1-3-year
Coffin 44 Crawford, Chicago
(serial) registered
.John Nuveen & Co.. Chicago 61,255 Magnolia
60,050
61,076 Delta Bank, Greenwood
-Commerce Trust Co
60,000 good-road and bridge bonds offered on Jan. 24 were awarded
National
First
the
to
Bank
in
Dolgeville
for
$6,001 (100.016)
All sealed bids were rejected and the bonds sold at auction
for 5s.
to the Capital National Bank of Jackson at 103 and int.
Denomination $500. Date Feb. 1 1911. Interest semi-annually in
Lincoln County (P. 0. Chandler), Okla.-Bonds Not Sold. New York exchange. Total debt, this issue ($6,000). Assessed valua-No bids were received on Feb. 6 for an issue of $900,000 tion, $1,776,525.
Marion School District (P. 0. Marion), Marion County,
Deep Fork Drainage District bonds offered on that day.
London School District (P. 0. London), Madison County, Ohio.-Bonds Voted.-An election held Feb. 7 resulted in
Ohio.-Bond Offering.-Proposals will be received until favor of the proposition providing for the issuance of $65,000
12 m. March 8 by Dr. W. H. Christopher, Clerk Board of 4M% school-building bonds. The vote was 944 "for" to
Education, for $80,000 43-% coupon school-building and 289 against." Maturity from 1912 to 1930 inclusive.
Maumee, Lucas County, Ohio.-Bond Offering.-Proimprovement bonds.
Authority Sections 7625, 7626 and 7627, General Code; also vote of 487 posals will be received until 8 p.
m. Feb. 24 by Geo. V. Raab,
to 113 at election Dec. 6 1910. Denomination $500. Date,"day of sale."
Interest semi-annually at Corporation Treasurer's office. Maturity $1,000 Village Clerk, for $10,000 5% coupon Wayne Street improveeach six months from Sept. 1 1912 to Sept. 1 1916 inclusive, $1,500 on ment bonds:
March 1 and $1,000 on Sept. 1 from 1917 to 1919 inclusive, $1,500 each six
months from March 1 1920 to March 1 1924 inclusive, $2,000 each six months
'from Sept. 1 1924 to Sept. 1 1934 inclusive, $2,500 March 1 1935, $2,500
Sept. 1 1935 and $3,000 March 1 1936. Certified check for 5% of bonds bid
for is required. Accrued interest to be paid by purchaser.
Denomination $500. Date Feb. 1 1911. Interest semi-annually
at the Northern National Bank in Toledo. Maturity $1,000 yearly on
Feb. 1 from 1912 to 1921 inclusive. Bonds are tax-exempt. Bid must be
unconditional and be accompanied by a check certified by some bank of
Maumee or Toledo for 5% of bonds bid for, made payable to the Village
Treasurer. Bonds to be delivered within 10 days from the time of award.
Long Beach, Los Angeles County, Cal.-Bond Offering.Proposals will be received until 9 a. m. March 3 (postponed
Meiford, Middlesex County, Mass.-Temporary Loan.from Feb. 10) by C. 0. Boynton, City Clerk, for $72,900 It is stated that loans of $50,000 due Nov. 17 1911
7% gold street-improvement bonds. These securities were $50,000 due Dec. 18 1911 have been negotiated with the and
Old
offered without success on Dec. 9 1910. See V. 91, p. 1792. Colony Trust Co. of Boston at 3.27% discount and a preDenomination ;100. Date Jan. 2 1911. Interest annually in Long mium of 65 cents.
Beach. Maturity one-tenth yearly on Jan. 2 from 1912 to 1921 inclusive.
Mifflin Township School District (P. 0. East Columbus),
Lordsburg, Los Angeles County, Cal.-Description of
Bonds.-The $36,000 5% water-works-system bonds, dis- Franklin County, Ohio.-Bond Offering.-Proposals will be
posed of on Jan. 12 to the First National Bank of Lordsburg received until 2 p. In. March 4 by Geo. J. Cassady, TownClerk for the $20,000 4 2% school-construction bonds
at 103.41 and interest(V.92, p. 336), are in denomination of ship Clerk,
14 (V. 92, p. 208).
$500 each and are dated Dec. 1 1910. Interest Jan. and voted on
Authority, Sections 7625 to 7630, inclusive, General Code of Ohio. Date
July. Maturity $1,000 yearly on Jan. 1 from 1914 to 1949 March
1911.
4
Interest annual. Maturity $1,000 yearly on March 4 from
1912 to 1931 inclusive. Certified check on a bank in
inclusive.
$500, payable to the Board of Education, is required.Franklin County for
Los Angeles County (P.0.Los Angeles), Cal.-Bond Sale.
Millelacs County, Minn.-Bond Offering.-Propos2% highway bonds described in alsMilaca,
-On Feb. 6 the $525,000 4j/
will be received until March 1 for $15,000 6% funding
V. 92, p. 208, were awarded to Barroll & Co. of Los Angeles, bonds.
Authority vote of 98 to 19 at the election held
it is stated, for $545,407 50-the price thus being 103.906. Nov.
22 1910. Maturity 20 years.
McCulloch County (P. 0. Brady), Texas.-Bonds RegisMiller, Hand County, So. Dak.-Bond Sale.-We are adtered.-The State Comptroller registered on Feb. 4 five issues vised
by the Mayor that on Sept. 16 1910 the $6,000 5%
of 5% 5-40-year (optional) bonds aggregating $43,000.
10-year water-works
offered on July 18 1910 (V. 91,
McCulloch County Common School District No. 29, Texas. p. 169) were awarded bonds
to Coffin & Crawford of Chicago at par.
-Bonds Registered.-The State Comptroller registered $800
Denomination $500. Date Sept. 1 1910. Interest semi-annual.
5% 5-10-year (optional) bonds on Feb. 1.
Minneapolis, Minn.-Bond Sale.-On Feb. 2 the $500,000
McDowell County (P.0. Welch), W.Va.-Bonds Not Sold. 4% 30-year coupon water-works-improvement
and con-We are advised under date of Jan. 28 that no award has struction bonds described in V. 92,
were awarded to
yetlbeen made of $50,000 and $30,000 5% coupon road-im- Wm. R. Cotnpton Co. of St. LouisP. 208,
at 100.003 and accrued
provement bonds offered on Jan. 5.
interest, less $2,500 for expenses. A bid of par and interest
Authority, Section 25, Chapter 52, Acts of 1909. Denomination $1,000.
received
was
also
from
the
Date Jan. 1 1911. Interest semi-annually at the McDowell County NaHarris Trust & Savings Bank of
tional Bank in Welch. The $50,000 issue matures Jan. 11941, but is sub- Chicago. Both bidders submitted propositions
for expenses.
ject to call after 20 years, and the $30,000 issue matures Jan. 1 1931,
subject to call after 20 years. Bonds are exempt from county taxes*
Minnehaha County (P. 0. Sioux Falls), So. Dak.-Bond
Bonded debt at present. $50.000. Assessed valuation in 1910, $41,000,000. Award Postponed.
-According to reports, the bids received
McKeesport, Allegheny County, Pa.-Bond Sale.-Local on Feb. 8 for the $50,000 coupon jail bonds offered on that
papers state that on Feb. 8 J. S. & W. S. Kuhn, of Pitts- day and described in V. 92, p. 208, were taken under adviseburgh, were awarded at par and accrued interest the $200,000 ment by the County Commissioners.
4% 5-30-year funding No. 3 Series 1910 bonds, offered on
Minnesota.-Bonds Purchased by State during January.Jan. 19, and described in V. 92, p. 135.
The following 4% improvement bonds, aggregating $111,900,
McKinney, Collin County, Tex.-Bond Sale.-The $25,000 were purchased by the State during January at par:
5% school-house bonds, registered by the State Comptroller
Place Issuing Bonds-.
Amount.
Date.
ritayiter
al
an
ud
10$600 Jan. 26
.0.
Ds
lset.
.ft
hoc
h Npoi.
3N
00
arttCo.C
st1
Em
B tera
er
on Dec. 13 1910 (V. 91, p. 1792), have been disposed of at a Ba
1911 192
31
0
.000 Jan. 13 1911 1916
do
premium to a syndicate represented by J. B. Oldham & Co. Carver County District No. 78._ 6,000 Jan. 13 1911 1916 do
Chippewa County District No. 7..
2,500 Jan. 26 1911 1916
of Dallas.
do
Clay County District No. 81_ _ _ _
Denomination $500. Date May 1 1910. Interest annual. Maturity
40 years, subject to call after 20 years.
Madison, Lake County, So. Dak.-Bond Election.-The
question of issuing $65,000 sewer bonds will be voted upon
April 18. These securities, if authorized, will take the place
of the $65,000 bonds awarded on Jan. 6 to the Minnesota
Loan & Trust Co. of Minneapolis (V. 92, p. 135), which sale
was never consummated. The City Auditor advises us that
the purchasers refused the issue for the reason that the State
law requires that a majority of all the voters in the town
1,500
Elk River Ind.Dist.,SherburneCo
4,000
Fairmont (City)
10,000
Freeborn Co., Sp. Albert Lea_
15,000
Hinckley Township, Pine County
1,300
Olmsted County District No. 8.._ 15,000
Pine County District No. 2
8,000
Polk County Sob. Dist. No. 245.
2,000
Rice County Soh. Dist. No. 3.... 10.000
St. Louis Co. Dist. No. 19
5,000
St. Louis Co. Soh. Dist. No. 22.. 15.000
Silverton Twp., Red Lake Co....
3,000
Traverse Co. District No. 32_
3,000
$111,900
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
26
26
21
26
26
23
26
6
21
26
21
26
26
1911
1911
1911
1911
1911
1911
1911
1911
1911
1911
1911
1911
1911
1916
1921
1930
1916
1916
1919
1927
1916
1930
1928
1917
1920
1918
do
do
do
do
do
do
do
do
do
do
do
do
do
FEB. 18 1911.]
THE CHRONICLE
Mission School District (P. 0. Mission), Hidalgo County,
Tex.-Bond Offering.-This district is offering for sale $15,000 bonds. These securities take the place oe$12,000 bonds
which were offered without success on Aug. 1 1910.
Mississippi County (P. 0. Charleston), Mo.-Bond Sale.On Feb. 6 the $28,000 6% coupon Drainage District No. 25
bonds described in V. 92, p. 276, were sold to E. J. Deal
for $29,150 (104.107) and interest. Bids were also received
from Hochler dr Cummings of Toledo, A. G. Edwards &
Sons of St. Louis, Geo. M. Brinkerhoff, D. Arthur Bowman
and Scott Alexander. Maturity part yearly on March 1
from 1912 to 1931 inclusive.
Modesto Irrigation District (P. 0. Modesto), Stanislaus
County, Cal.-Bond Sale.-On Jan. 21 the $50,000 5% 2030-year (serial) reservoir-completion bonds mentioned in
V. 92, p. 209, were awarded to J. M. Wathall at par.
Denomination $500. Date Jan. 1 1911. Interest semi-annual.
Monett, Berry County, Mo.-Bond .Sale.-Reports state
that on Feb. 7 the $35,000 5% 5-20-year (optional) electriclight-plant-construction bonds described in V. 92, p. 337,
were awarded to the Mercantile Trust Co. in St. Louis for
$35,020-the price thus being 100.057.
Montpelier, Williams County, Ohio.-Bond Offering.Proposals will be received until March 25 for $22,000 434%
street-improvement bonds.
Authority vote of 446 to 165 at election held Jan. 31 (V. 92, p. 209).
Maturity 1930.
Morehead City, Cartaret County, No. Can-Bond Offering.
-Proposals will be received until 8 p. m. March 6 for the
$20,000 53% coupon water-works-system bonds mentioned
in V. 91. p. 898.
Interest semi-annually in New York. Maturity 30 years. Certified
check for $500 is required. W. J. Hales is Secretary and Treasurer.
Mt. Penn, Berks County, Pa.-Bonds Being Sold Locally.The Borough Secretary writes us that the $10,000 4% bonds
mentioned in V. 90, p. 1255, are being disposed of to local
investors.
Muscatine, Muscatine County, Iowa.-Bond Election.An election will be held Feb. 24, it is stated, to vote on the
question of issuing $58,000 additional-school-building bonds.
National City High School District, San Diego County,
Cal.-Bond Sale.-The $25,000 5% 6-30-year (serial) building bonds offered on Feb. 8(V. 92, p. 337) were purchased by
N. W. Halsey & Co. of San Francisco at 105.31-a basis of
.about 4.565%. The following bids were received:
N.W.Halsey & Co.,S. Fr $26,327 50 G. G. Blymyer&Co.,S.Fr. $25,663 50
W. R. Staats Co., Pasad_ 26,128 50 Bk. of Corn. & Trust Co__ 25,550 00
J. H. Adams & Co., Pasa_ 26,061 00 C.E.Woodside&Co., LosA. 25,365 00
E. H. Rollins & Sons,S.Fr. 25,777 50 American Says. Bank_ _ _ 25,138 00
Denomination $1,000. Date Jan. 9 1911. Interest annual.
Newberry Township, Miami County, Ohio.-Bond Sale.The $17,000 public-building-construction and the $7,000
refunding 5% coupon bonds offered on Feb. 7, described in
V. 92, p. 209 and 276, were awarded to the Stillwater Valley
Bank Co. of Covington at 109.732 and 111.828 respectively.
The following bids were received:
$17,000 bonds. $7,000 bonds.
Stillwater Valley Bank Co., Covington
$18,654 50
$7,828 00
Citizens National Bank, Wooster
18,530 00
7,717 0
Breed & Harrison, Cincinnati
18,465 40
7,707 00
Seasongood & Mayer, Cincinnati
18,384 00
7,652 00
Hayden, Miller & Co., Cleveland
18,230 00
7,530 00
Well, Roth do Co., Cincinnati
18,136 25
7,463 75
New First National Bank, Columbus
18,039 00
7,429 00
The maturity on tho first issue is $1,000 yearly on March 1 from 1921 to
1924 inclusive, $3,000 yearly on March 1 from 1925 to 1927 inclusive and
$4,000 on March 1 1928. On the second issue, $3,500 on Feb. 15 in each
of the years 1929 and 1930.
Newburyport, Essex County, Mass.-Temporary Loan.A. loan of $150,000, due in 834 months, was negotiated with
the Old Colony Trust Co. of Boston on Feb. 13 at 3.21%
discount.
New Castle School District No. 1 (P.0. New Castle), Winton County, Wyo.-Bond Sale.-The Clerk advises us that
on July 5 1910 $7,000 532% 10-year construction bonds were
awarded to Keeler Bros. of Denver for $7,100, the price
thus being 101.428. Denomination $1,000. Date Aug. 1
1910. Interest semi-annual.
New Concord, Muskingum County, Ohio.-Bond Sale.On Jan. 11 $2,000 6% electric-light-plant-construction bonds
were awarded to A. C. Drummond of New Concord at 101.55.
Authority', Section 2835, Revised Statutes.
Jan. 11 1911. Interest annual.
Denomination $200. Date
Newman, Douglas County, Ill.-Bonds Offered by Bankers.
-Chas. S. Kidder & Co. of Chicago are offering for sale an
issue of $28,000 5% hard-road bonds of this town.
Denomination $1,000. Date Nov. 15 1910. Interest April 1 in Newman. Maturity $7,000 yearly on April 1 from 1911 to 1914 inclusive.
Total debt, this issue. Assessed valuation 1910, $992,285. Real valuation (estimated), $2,976,855.
New Vienna Village School District (P. 0. New Vienna),
Clinton County, Ohio.-Bond Offering.-Proposals will be
received until 12 In. March 1 (postponed from Feb. 11) by
the Board of Education, M. B. Coffin, Clerk, for $16,000
434% coupon building and repair bonds.
Authority Sections 7625 and 7327, General Code. Denomination $500.
Date March 11911. Interest semi-annual. Maturity $500 each six months
from March 1 1912 to Sept. 1 1927 inclusive. Deposit of 5% of bonds bid
for is required.
483
Denomination $500. Date March 1 1911. Interest semi-annual. Maturity $500 yearly on March 1 from 1912 to 1937 inclusive. Certificate of
deposit on the Citizens' National Bank in Caldwell for $100 is required.
Purchaser to pay accrued interest.
Proposals will also be received until 12 m. March 4 by the
Township Clerk for $1,000 4% highway-construction bonds.
Authority, Volume 99, 'pages 308 to 320, Ohio Laws. Denomination
$400. Interest annual. Maturity $400 yearly from 1 to 10 years inclusive
Nolan County (P. 0. Sweetwater), Tex.-Bond Offering.Proposals will be received by Jno. J. Ford, County Judge,
for the $100,000 5% coupon Road District No. 1 bonds
recently voted. V. 92, p. 277.
Denomination $1,000
Date Feb. 13 1911. Interest payable April 10
and Oct. 10 in New York City. Maturity 40 years. Bonded debt, this
issue. Assessed valuation 1910, $3,000,000.
Norlolk, Madison County, Neb.-Bonds Proposed.-This
city is considering the advisability of issuing $55,000 lightplant bonds. We received a letter from the Clerk on Feb. 6
stating that nothing definite had been done up to that time.
Norman School District (P. 0. Norman), Cleveland
County, Okla.-No Bond Election.-We are advised that this
district does not intend to hold an election to vote on the
question of issuing $15,000 5% building bonds, as reported
by some of the newspapers.
Northampton, Hampshire County, Mass.-Temporary
Loan.-A loan of $75,000 due Oct. 13 1911 was negotiated
on Feb. 11 with the Old Colony Trust Co. of Boston at
3.27% interest.
N3rth Dakota.-Bonds Purchased by the State during January.-The following 4% bonds, aggregating $21,950, were
purchased by the State of North Dakota at par during the
month of January:
Bowbells Special School Distrlot-$4,000 10-year refunding bvnds, dated
Nov. 15 1910.
Bowbells School District No. 10-$1,400 20-year building bonds, dated
Nov. 15 1910.
Bowbells School District No. 28-$1,200 20-year building bonds, dated
Nov. 15 1910.
Bowbells School District No. 52-$2,200 20-year building bonds, dated
Nov. 15 1910.
Cedar School District No. 52-$1,500 20-year building bonds, dated
Nov. 15 1910.
Hazel School District No. 24-$900 15-year building bonds, dated
April 1 1910.
Picket School District No. 60-$4,000 20-year building bonds, dated
Nov. 15 1910.
Springdale School District No. 4-$1,000 20-year building bonds, dated
Nov. 15 1910.
Valley School District No. 4-$1,000 20-year building bonds, dated
Sept. 15 1910.
Victor School District No. 12-$3,250 10-year building bonds, dated
Nov. 15 1910.
Whittaker School District No. 23-$1,500 10-year building bonds, dated
Nov. 15 1910.
The above bonds were all purchased direct from the district
issuing the same, and none is subject to call.
North Mankato (P. 0. Mankato), Blue Earth County.
Minn.-Bond Election Proposed.-It is reported that petitions are being circulated in this village asking the Council
to call an election for the purpose of submitting to the voters
a proposition providing for the issuance of $20,000 watersystem bonds.
North Yakima, Yakima County, Wash.-Bond Election
Proposed.-According to reports, an election will be held
about April 1 to vote on a proposition to issue $80,000 cityhall-construction and site-purchasing bonds
Norwich Township, Huron County, Ohio.-Bond Offering.
-Proposals will be received until 12 m. March 1 by L. G.
Bechtel, Township Clerk (P. 0. Havana), for $40,000 432%
coupon road-improvement bonds.
Authority, Sections 7033 and 7052, General Code, also election held
Nov. 8 1910. Denomination $500. Date March 1 1911. Interest semi
annually at the Home Savings and Banking Co. In Chicago, Ohio. Maturity $1,000 each six months from March 1 1912 to Sept. 1 1931, inclusive.
Certified check for 5% of bonds bid for, payable to the Township Treasurer;
is required. Purchaser to pay accrued interest. The bonds are tax
exempt. Bonded debt at present, $6,000. No floating debt. Assessed
valuation 1911, 8815,420.
Oakland, Alameda County, Cal.-Bonds Authorized.According to reports the City Council has adopted a resolution providing for the issuance of $2,743,900 school-building
and $500,000 auditorium bonds. It is further stated that
the propositions will now be submitted to the voters.
Oakland City, Gibson County, Ind.-Bond Sale.-On
Feb. 13 $3,550 4% 10-year coupon town-hall bonds were
purchased by Miller, Adams & Co. of Indianapolis lit par.
These bonds were offered (V. 92, p. 209), but not sold, on
Jan. 23.
Ocean Park School District (P. 0. Ocean Park), Los
Angeles County, Cal.-Bonds Proposed.-Petitions are being
circulated, it is stated, asking the voters of this district
whether they would sanction a proposition to issue bonds for
a new high-school building.
• Omaha, Neb.-Bond Offering.-Proposals will be received
until 3 p. en. Feb. 27 for $100,000 intersection and $100,000
sewer 434% coupon bonds.
Authority Section No. 7703, Chapter No. 37, Cobbey's Compiled Statutes
of 1909. Denomination $1,000. Date Feb. 1 1911. Interest semi-annually at the fiscal agency of the State of Nebraska (Kountze Bros.) in New
,
York City. Maturity 20 years. Certified or Cashier's check
on a national
bank for 2% of bid, payable to the "City of Omaha,' is required. Official circular states there is no litigation pending or threatened affecting
the legality of the bonds: also that there has never been default in the payment of principal or Interest on previous issues of bonds. Accrued interest
to be paid by purchaser. Bid subject to bonds having been legally and
regularly Issued. Frank A. Furey is City Treasurer.
Noble Tovrnihip, Noble County, Ohio.-Bond Offerings.Proposals will be received until 12 in. March 1 by S. S.
Orland, Glenn County,
Election.-The voters
Barnhouse, Township Clerk (P. 0. Belle Valley) for $13,003
of this place will have presented to them at an election to be
5% coupon road-improvement bonds.
THE CHRONICLE
484
held shortly a proposition, it is. stated, providing for the
issuance of municipal improvement bonds.
Osage, Mitchell County,Iowa.-Bond Sale.-Local parties
have been awarded at par and accrued interest the $10,500
5% street-improvement bonds dated Dec. 1 1910 and
described in V.91, p. 1792. Maturity from one to ten years.
Oswego School District (P. 0. Oswego), Labette County,
Kan.-Bond Offering.-Proposals will be received until
March 1 by S. Carpenter Jr., President of the Board of Education, for the $22,800 5% coupon high-school-building bonds
voted on Jan. 17 (V. 92, p. 278).
Denomination $1,000. Date May 1 1911. Interest semi-annually at
the State Treasurer's office in Topeka. Maturity $5,000 yearly beginning
May 1 1916. Bonds are exempt from taxation. Certified check for $25,
payable to the President of the Board of Education, is required. No debt
at present. Assessed valuation in 1910, $1,526,067.
Ottawa County (P.0.Port Clinton), Ohio.-Bonds Authorized.-Reports state that the County Commissioners have
passed a resolution providing for the issuance of $15,000
drawbridge-construction bonds.
Oxford Graded School District (P. 0. Oxford), Granville
County, No. Caro.-Bond Offering.-Proposals• will be received until 12 m. March 8 by J. P. Stedman, Treasurer
Board of Trustees, for $20,000 coupon bonds. Bids are
requested first for 30-year 5% bonds, and second, for 10-year
6% bonds.
Interest Jan. 15 and July 15. Certified check for $500, payable to the
Board of Trustees, is required. Accrued interest to be paid by purchaser.
Paris, Lamar County, Tex.-Bond Election.-The question
of issuing $50,000 improvement bonds will be voted upon,
according to reports, on March 7. The proposed improvements are the enlarging of schools, the erection of a public
comfort station and the paving of the Square.
Parkville School District No. 16 (P. 0. Parkville), Platte
County, Mo.-Bonds Not Sold.-The $9,200 5% coupon
building bonds offered on May 23 1910(V. 90, p. 1380) were
not sold, we are advised, as the election at which the issue
was authorized was declared void, owing to technicalities.
Pawnee City, Pawnee County, Neb.-Bond Election.-A
proposition .to issue bonds to take up outstanding warrants
will be submitted to a vote, according to reports, at the
coming spring election.
Pecos, Reeves County, Texas.-Bonds Defeated.-The
election held Jan. 30 resulted in the defeat of the question
of issuing the $25,000 sewerage bonds mentioned in V. 92,
p. 210. The vote was 40 "for" to 70 "against."
Perry School District(P.0. Perry), Noble County, Okla.Bond Sale Pending.-This district is negotiating with the
Oklahoma Bond & Trust Co. of Oklahoma City for the sale of
the $30,000 5% coupon high-school-building and equipment
bonds described in V. 92, p. 136.
Perth (P. 0. Johnstown), Fulton County, N. Y.-Bond
Sale.-On Feb. 2 $2,000 5% highway bonds were awarded
to J. F. Ruller at 100.25. Other bids received were as
follows:
$2,0011J. D. Smith
$2,000
J. Keck
Denomination $1,000. Date Feb. 1 1911. Interest annual. Maturity $1,000 on Feb. 1 1912 and Feb. 1 1913.
Philadelphia, Jefferson County, N. Y.-Bond Sale.-On
Jan. 31 $8,000 432% bonds were awarded to the Watertown
Savings Bank in Watertown.
Denomination $1,000.
one bond each year.
Date Feb. 1 1911.
Interest annual.
Maturity
[VoL..Lxxxxxi.
Kent-Stow road-improvement bonds described in V. 92,
p. 278, were awarded to the Davies-Bertram Co. of Cincinnati at 100.03 and accrued interest. Maturity $18,000 on
Sept. 11912, $7,000 on March 1 1913 and $2,500 yearly on
March 1 from 1914 to 1931 inclusive.
,11)er bids received were as follows:
$70,0201Ravenna N. Bk., Ravenna_l$70,000
Well, Roth & Co., Cin
70,015 Second Nat. Bk., Ravenna4
Scasongood & Mayer, Cin_
70,000
Barto,Scott & Co., Columbus 70,001 Stacy Sc Braun, Toledo
Port Byron, Cayuga County, N. Y.-Bond Sale.-The Village Clerk has just advised us that $6,000 4% 13-year electric-light bonds were sold on July 21 1910 to Geo. M. Hahn
of New York City at 100.0565. Denomination $500. Date
•
Oct. 1 1910.
Voted.-Re-Bonds
Ohio.
County,
Clinton,
Ottawa
Port
ports state that an election held Feb. 4 resulted in favor of
the question of issuing $25,000 city-hall-construction bonds.
Portersville School District, Tulare County, Cal.-Bond
Sale.-On Feb. 6 $45,000 5% 40-year school bonds were
awarded to the State Board of Examiners at 105.666. The
following bids were received:
State Bd. of Examiners
$47,550
Barroll & Co., Los Angeles
47,101
•N. W. Halsey & Co., San Fr.. 47,056
J. H. Adams & Co., Pasadena 46,975
Denomination $1,500. Date Feb
Wm. R. Staats Co., Pasad'a_546,927
E. H. Rollins & Sons, San
Francisco
8
00
393
C. E. Woodside & Co., Los A. 46:
1 1911. Interest semi-annual.
Portland, Me.-Note Offering.-Proposals will be received
until 12 in. Feb. 20 at the office of David Birnie, City Treasurer, for the discount of $100,000 notes.
Denomination of notes desired to be named in bid.
issue." Maturity Oct. 2 1911.
Date. "day of
Port Neches School Precinct No. 7, Texas.-Bonds Voted.An election held recently, it is stated, resulted in a vote of
36 "for" to 12 "against" a proposition to issue $20,000 schoolbuilding and site-purchase bonds.
Port of Portland (P.0.Portland), Ore.-Bonds Not Sold.-The $60,000 6% gold bonds offered on Jan. 12 and described
in V. 91, p. 1793, have not been sold, the bids received bAng
unsatisfactory.
Portsmouth, Scioto County, Ohio.-Bond Offering.-Proposals will be received until 12 m. March 7 by William N.
Gableman, City Auditor, for the following 4% coupon streetimprovement bonds.
$8,000 city's portion bonds. Maturity March 1 1921.
82,500 assessment bonds. Maturity $1,500 on March 1 1912rand159,000
yearly on March 1 1913 to March 1 1921 inclusive.
Denomination $500. Interest semi-annually at the City Treasurer's
office. Certified check for 2% of bonds bid for, payable to the CityriAuditor,
is required. Bids must be unconditional.
Proctor 'Independent School District (P. 0. Proctor),
Comanche County, Tex.-Bond Salc.--This district sold
$2,500 5% 5-20-year (optional) bonds on Feb. 10 to the
State School Fund at par and interest.
Providence, R. I.-Notes Authorized.-A resolution was
adopted by the City Council on Feb. 6 providing for the issuance of $150,000 playground notes at not exceeding 6%
interest.
Putnam Independent School District (P. 0. Putnam),
Callahan County, Tex.-Bond Sale.-An issue of $9,000 5%
20-40-year (optional) bonds was disposed of on Feb. 10 to
the State School Fund at par and interest.
Recovery (P. 0. Fort Recovery), Mercer County, Ohio.Bond Sale.-On Feb. 4 the $5,500 village's portion and the
$14,000 assessment 5% Boundary Street improvement bonds
described in V. 92, p. 210, were awarded to Stacy & Braun
of Toledo at, 103.482 and accrued interest. A list of the
bidders and the premiums offered by the same follows:
Pierpont, Day County, So. Dak.-Bond Election Proposed.
-This town is considering the advisability of holding an
election, probably next August or September, to vote on Stacy & Braun, Toledo
$679 70 Tillotson & Wolcott Co.,Clev.$632 61
the question of issuing from $5,000 to $10,000 funding bonds. Barto, Scott & Co., Colum 662 00 Well, Roth & Co., Cincin____ 574 00
&Tr.Co.,Toledo 651 00 Ft.Recov.Bkg.Co., Ft.Recov. 165 00
Sec.
Bk.
Say.
Sub-School
Liberty
District.- Seasongood & Mayer, Cin 649 00 Somerset Bank, Somerset__ 160 00
Pittsburgh, Pa.-West
Cleveland_ 131 00
Bond Election.-A vote will be,taken on Feb. 28 on the New First Nat. Bk., Colum 639 00 First Nat. Bk.,
The $5,500 bonds mature $500 yearly on Jan. 1 from 1912 to -1922 inschool-building
bonds.
question of issuing $70,000
clusive and the $14,000 bonds mature part yearly on Jan. 1 from 1912 to
Pittsfield, Berkshire County, Mass.-Bond Offering.- 1921, Inclusive.
Rector Special Drainage District, Saline County,
Proposals will be received until 10:30 a. m. Feb. 20 by F. M.
Bonds Offered by Bankers.-The Hanchett Bond Co., Inc.,
Platt, City Treasurer, for the following 4% coupon bonds.
$89,000 sewer bonds dated Feb. 1 1911. Maturity $9,000 on Feb. 1 1924 of Chicago, is offering for sale $70,000 6% bonds.
and $10,000 yearly on Feb. 1 from 1925 to 1932 inclusive.
500,000 water-works bonds dated March 1 1911. Maturity $20,000 yearly
on March 1 from 1915 to 1939 inclusive.
Coupon bonds may be exchanged for registered bonds at the option of the
holder. Interest semi-annual. Bonds are exempt from taxation in Massachusetts and will be certified as to their genuineness by the Old Colony
Trust Co. of Boston, which will further certify that their legality has been
approved by Messrs. Storey, Thorndike, Palmer & Dodge of Boston, a copy
of whose opinion will accompany the bonds when delivered, without charge
to the purchasers.
Denomination $500. Date Jan. 11 1911. Interest semi-annually at th
State Treasurer's office in Springfield. Maturity on July 15 as follows
$4,500 in 1914, $7,000 in 1915, $7,500 in 1916, $10,000 In 1917, $10,500 in
each of the years 1918 and 1919, $11,000 In 1920,and $9,000 in 1921.
Horace T. Fogg is
Date March 15 1911. Interest semi-annually,at the Merchants' State Bank
In Rhinelander. Maturity $6,000 in 1912, 1913 and 1914, $7,000 in 1915.
Redlands, San Bernardino County, Cal.-Bond Sale.Reports state that the W. R. Stoats Co. of Pasadena have
been awarded at 106.29 an issue of $80,000 5% park-improvement bonds .
Plymouth County (P. 0. Plymouth), Mass.-Note OfferRhinelander, Oneida County, Wis.-Bond Offering.-Proing.-Proposals will be received until 10 a. in. Feb. 21 by posals will be received until 4 p. in. March 4 by Gust. Swedthe County Commissioners for $8,000 4% notes dated March 1 burg, City Clerk, for $55,000 5% coupon funding water bonds.
1911 and due $4,000 in each of the years 1913 and 1914.
Authority, Sections 925-133, Revised Statutes. Denomination $1,000.
Denomination $4,000. Interest semi-annual.
County Treasurer.
•
1916 and 1917 and $8,000 in 1918 and 1919. Bonds are exempt from taxaPolk County (P. 0. Des Moines), Ia.-Bond Sale-On tion.
Certified check for 51,000, payable to A. D. Sutton, City Treasurer
Feb. 7 this county awarded $100,000 funding 14-year (aver- is required.
age) bridge and $83,000 funding 13M-year (average) courtRichardson County Drainage District No. 2 (P. 0. Humexpense 4M% bonds to the Iowa National Bank' of Des boldt), Neb.-Bond Offering.-Proposals will be received
of
basis
about
102.46
at
-a
and
interest
Moines
until 12 in. Feb. 20 by C. M. Linn, Secretary of Board of Comaccrued
4.26%. The bonds are dated Feb. 1 1911.
missioners, for $48,000 6% coupon drainage imnprovenint
Polytechnic, Tarrant County, Texas.-Bonds Proposed.- bonds.
Authority, Article 4, Chapter 89, Compiled Statutes of 1907, and amendThis place, according to reports, proposes to issue $50,000 ment
of 1909. Denomination $1,000. Date July 1 1910. Interest semiwater-works bonds.
annually* at the County Treasurer's office. Maturity on July 1 as follows:
1915, $11,000 in 1916, $11,000 in 1917, $6,000 in 1918, $5,000 in
$12,000
Ohio
.-Bond
O.Ravenna),
(P.
Sale.
County
-We 1919 andin$3,000
Portage
in 1920. Bonds are taxable. No deposit required. The
4%
the
13
$70,000
coupon
Feb.
Ravenna- district has no debt at present.
learn that on
FEB. 18 1911.1
THE CHRONICLE
Richmond County (P. 0. Rockingham), No. Oar.-Bond
Offering.-Proposals will be received until 12 m. March 13
by B. F. Reynolds, Clerk of Board of County Commissioners,
for $15,000 bonds at not exceeding 6% interest, payable
semi-annually.
Riverside, Riverside County, Cal.-Bond Offering.-Proposals will be received until 9:15 a. m. March 7, it is stated,
by the City Clerk, for the $30,000 Fairmont Park and $20,000
fire-department 43% improvement bonds voted on Nov. 25
1910 (V.91, p. 1588).
Denomination $500. Date March 1 1911. Interest semi-annual. Maturity from 1 to 20 years. Separate bids must be made on each issue.
Riverton Township, Mason County, Mich.-Bond Election.
-An election will be held in this township Feb. 20, according
to reports, to vote on the question of issuing $20,000 gravelroad bonds.
Rochester, N. Y.-Note Offering.-Proposals will be received until 2 p. m. Feb. 23 by Chas. F. Pond, City Comptroller, for $100,000 water-works-renewal notes, dated
Feb. 28 1911, and $100,000 local-improvement renewal notes,
dated March 1 1911.
Denomination of notes and rate of interest desired to be named in
bids.
Principal and interest will be payable eight months
after date at the
Union Trust Co. in New York.
Rockford, Mercer County, Ohio.-Bond Offering.-Proprosals will be received until 3:30 p. m. March 4 by Augustus
Karns, Village Clerk, for $4,000 5% refunding bonds.
Denomination $800. Date March 1 1911. Interest annual. Maturity
$800 yearly on March 1 from 1912 to 1916 inclusive. Certified check for
$200, payable to the Village Treasurer, is required. Purchaser to pay
accrued interest to date of delivery and furnish blank bonds at his own
expense.
485
Sallisaw, Sequoyah County, Okla.-Bond Sale.-The City
Clerk informs us that the amount of bonds disposed of on
Jan. 20 (V. 92, p. 338) was $65,000. They were purchased
by the Provident Savings Bank & Trust Co. of Cincinnati at
par.
The securities were Issued for sewers, street-crossin and
gs
water-extension purposes and carry 6% interest.
Feb. 1 1911. Maturity twenty-five years. Denomination $1,000. Date
San Augustine, San Augustine County, Tex.-Bond Offering.-Proposals will be received until March 21 for $25,000
5% 20-40-year (optional) water-works bonds. Authority
vote of 77 to 21 at an election held recently. R. H.
Hall is
Mayor.
San Marcos, Hays County, Tex.-Bond Election.-A
vote
will be taken at the regular election in April, according
to
reports, on the question of issuing $4,000 street-improvement
bonds.
San Joaquin County (P. 0. Stockton), Cal.-Bond Offering.-Proposals will be received until 10 a. m. March 6 by the
Board of County Supervisors for $500,000 5% highway
bonds. These securities are part of the issue of $1,890,000
bonds voted in March 1909, the sale of $790,000 of which has
already been reported in the "Chronicle." See V.89, p. 490,
and V. 91, p. 481.
Interest is payable at Kountze Bros. In New York City or at the County
Treasury, at the option of the holder. The legality of the bonds
will be
approved by Dillon & Hubbard of New York City. Bid must be made
on a
blank form furnished by Eugene D. Graham, County Clerk, or by Dillon
&
Hubbard.
The official notice of this bond offering will be found among
the advertisements elsewhere in this DepartmentSanta Monica School District (P. 0. Santa Monica), Los
Rockingham County(P.O. Wentworth), No. Caro.-Bonds
Proposed.-We are advised that the question of issuing Angeles County, Cal.-Vote on Bonds.-The vote cast at
$500,000 road bonds is being discussed.
the election held Jan. 24, which resulted in favor of the propoRocky River, Cuyahoga County, Ohio.-Bond Offering.- sitions to issue the .8200,000 polytechnic high school and
Proposals will be received until 12 m. March 17 by W. M. the $25,000 school-ground-enlargement 5% bonds (V. 92,
Dean, Village Clerk, for $5,000 43% fire-dpeartment-build- p. 338), was 769 "for" to 106 "against" the former issue and
697 "for" to 161 "against" the latter issue. The high-school
ing bonds.
bonds mature $5,000 in 1917, $3,000 yearly from 1918 to
• Authority Section 3939, General Code. • Denomination
$500.. Date 1928 inclusive, $4,000 in 1929, $5,000 in each
March 1 1911. Interest semi-annual. Maturity $500
of the years
each
six
months
from
April 1 1915 to Oct. 1 1914 inclusive. Certified cheek
for $150, payable to 1930, 1931 and 1932, $7,000 yearly from 1933 to 1941 inthe Village Treasurer, is required. Purchaser to pay accrued
interest.
clusive and $8,000 yearly from 1942 to 1951 inclusive; and
Roseville, Placer County, Cal.-Bond Sale.-On Jan. 23 the school-ground bonds mature $2,000 yearly from 1917 to
$1,500 5% 1-15-year bridge bonds were awarded to the Rose1928 inclusive and $1,000 in 1929.
ville Banking & Trust Co. in Roseville at par and accrued
Scandia, Republic County,!Kans.-Bonds Not Yet Sold.interest. Denomination $100. Date Oct. 11910. Interest No sale has yet been made of the $21,000 5%
coupon watersemi-annual.
works bonds, offered without success on June 20 1910. See
Royal School District (P.0. Royal), Clay County,Iowa.- V. 91, p. 746.
Bond Sale.-An issue of $4,000 building bonds dated Sept. 1
Schuylkill Haven, Schuylkill County, Pa.-Loan Author1911 was disposed of on Feb. 10 to Martin Auslond at par for ized.-On Feb. 14 this borough, it is stated, voted to
6 per cents. A bid at par for 6s was also received from $50,000 for the construction of additional reservoirs.borrow
C. H. Coffin of Chicago.
Scottville, Mason County, Mich.-Bond Offering.-ProRussell County (P. 0. Seale), Ala.-Bond Sale.-On posals will be received by Ray Trucks, City Clerk, for $5,000
Feb. 13 the $100,000 road and $20,000 public-building 5% 5% refunding park and improvement bonds.
30-year gold coupon bonds described in V. 92, p. 338, were
Denomination $1,000. Interest semi-annual. Maturity $1,000 year y
awarded to Otto Marx & Co. of Birmingham for $122,410 on March 30 from 1915 to 1919 Inclusive.
(102.008) and accrued interest.
Scranton, Bowman County, No. Dak.-Bond Offering.Russell School District, Los Angeles County, Cal.-Bond Proposals will be received by R. J. List, Village Clerk, for
Election.-An election will be held Feb. 11 to vote on the $5,000 improvement bonds.
Advertisement states that bonds will net 6% interest from Aug. 15 1910.
question of issuing $11,000 5% 1-11-year (serial) school
Denomination $500. Maturity 20 years. Assessed valuation, $200,000.
bonds. Denomination $1,000. Interest annual.
Seattle, Wash.-Bonds Sold During January.-The
Ruston School District(P.0.Ruston), Lincoln Parish, La.
bonds, aggregating $538,695 73, were disposed of
-Bond Sale.-On Feb. 7 the $65,000 5% coupon school- following
par during January to contractors in payment for work
building bonds described in V. 92, p. 278, were awarded to at
F. L. Fuller & Co. of Cleveland at par and accrued interest done:
Amount
Purpose.
Date.
Int. Rate.
Maturity.
and 2% commission. Conditional bids at par were also re- $75,372 43_ _Paving
Jan. 3 1911
6
Jan. 3 1916
1,612
34._
do
do
7
do
ceived from C. H. Coffin of Chicago, Well, Roth & Co. of
2,548 51._
do
do
6
Jan. 3 1921
120,332 66._
Cincinnati and Cutter, May & Co. of Chicago.
do
do
7
Jan. 3 1916
•
3,512 12__
do
Jan. 7 1911
7
Jan. 7 1916
Sacramento School District (P. 0. Sacramento), Sacra2,941 27__Sewer
do
7
do
mento County, Cal.-Bonds Proposed.-It is stated that 20,037 57Paving
do
7
do
4,195 03__Water-main
do
7
do
the School Trustees have adopted a report filed with that
3,308 33__Paving
Jan. 9 1911
7
Jan. 9 1921
2,986 08__Water-main
body recommending the issuance of $750,000 bonds for
Jan. 12 1911
7
Jan. 12 1916
40,800 26...Planking
do
7
do
school improvements.
33,209 64__Sewer
do
7
do
16,604 43__Grade & curb Jan. 14 1911
7
Jan. 14 1916
Saint Helena Union High School District, Napa County, 14,543
00_ _Mains
Jan. 16 1911
7
Jan. 16 1916
Cal.-Bond Election.-Reports state that the Board of Trus6,094 33__Sewer-mains
do
7
Jan. 16 1921
48__Walks
Jan. 17 1911
7
tees are completing arrangements to call an election to vote 12,205
Jan. 17 1916
4,739 88_ _Regrade
Jan. 19 1911
6
Jan.
19 1916
on a proposition to issue $30,000 school-building and furnish3,562 24_ _
do
Jan. 20 1911
7
Jan. 20 1916
6,290 69_ _Walks
Jan. 21 1911
7
ing bonds.
Jan. 21 1916
1,333 42__Paving
Jan. 24 1911
7
Jan. 24 1916
4,558 92_ _Regrade
St. John, Stafford County, Kan.-Bond Sale.-The foldo
7
do
3,502 88__Paving
Jan. 27 1911
7
Jan. 27 1916
lowing 6% sewer bonds were sold on Dec. 7 1910 to the St.
975 84__Grade
do
7
do
John National Bank of St. John at par:
664 32__Sewer
Jan. 28 1911
7
Jan. 28 1916
$27,500 bonds dated April 1 1911 and due $2,750 yearly on April 1 from
1912 to 1921 inclusive •
• 9,500 bonds dated July 1 1910 and due July 1 1920.
Denomination $500. Interest semi-annual. These bonds were previously offered on Aug. 10 1910 (V. 91, p. 355).
Saint Manes, Kootenai County,Idaho.-Bonds to be Issued
Shortly.-This place expects to be on the market about Feb.20
with $9,000 bonds. These securities take the place of $7,000
bonds offered for sale on May 31 1910, but which were subsequently canceled, owing to the discovery of an error in the
proceedings. It also developed that because of a change in
the plan of work proposed the smaller issue would not afford
sufficient money.
Salisbury Township (P. 0. Salisbury), Rowan County,
No. Oar.-Bond Election.-Reports state that an election
will be held March 14 to vote on a proposition to issue
$100,000 railroad-aid bonds.
4,042 10_ _Cement-walk
do
9,899 51...Cluster lights Jan. 30 1911
35,244 72__Main
do
12,270 60__Grade & curb
do
12,249 51_ _Paving
do
8,982 99__Water-main
do
40,074 63_ _Paving
Jan. 31 1911
7
7
7
7
7
7
7
do
Jan. 30 1916
do
do
Jan. 30 1921
Jan. 30 1916
Jan. 30 1921
The above bonds are subject to call at any interest-paying
period when there is sufficient money in the fund to redeem
them.
Price Paid for Bonds.-We are advised that the price paid
for the $1,921,000 43'% bonds (4 issues) and $46,000 5%
bonds, the sale of which was reported last week (V.92,p.339),
was 101.16.
AltSelma Union High School District, Fresno County, Cal.Bond Offering.-Proposals will be received until 10 a. m.
Feb. 25 by the Board of County Supervisors, D. M. Barnwell, Clerk (P. 0. Fresno), for $60,00015%lgold bonds.
486
THE CHRONICLE
[VoL. Lxxxxii.
Sunnyside Irrigation District (P. 0. Weiser), Washingtqn County, Idaho.-Bonds Voted.-At a recent election the
issuance of $150,000 water bonds was authorized, it is stated.
Sentinel, Washita County, Okla.-Bond Election.-Papers The vote was 56 "for" to 7 "against."
Superior, Nuckolls County, Neb.-Bonds Offered by Bankstate that an election will be held early in March to vote on
the question of issuing $3,000 water-works-extension and ers.-Water-extension 5% bonds amounting to $20,000 are
being offered for sale by Chas. S. Kidder & Co. of Chicago.
$12,000 electric-light bonds.
SuDenomination $500. Date Oct. 1 1910. Interest semi-annually in
Shackelford County Common School District No. 15, Tex. perior
or Chicago. Maturity Oct. 1 1930, subject to call after Oct. 1 1915.
-Bond Sale.-On Dec. 23 1910 the $1,800 5% 10-20-year Total debt $36,000. Assessed valuation $1,615,655. Real value $3,000,(optional) bonds registered by the State Comptroller on 000.
Sweet Grass County School District No. 8 (P. 0. Reed
Dec. 13 1910 (V. 91, p. 1793) were disposed of at par and
accrued interest to funds of Shackelford County. Denomina- Point), Mont.-Bonds Not Sold.-No sale has been made,
tion $100. Date March 1 1910. Interest annually on we are advised by the Clerk under date of Feb. 1, of an issue
of $1,250 school bonds which was offered at public sale on
April 10.
Shackelford County Common School District No. 16, Tex. July 2 1910.
Sycamore, Wyandot County, Ohio.-Bond Sale.-John T.
-Bond Offering.-The County Judge is offering at bar and
interest the $2,500 5% 10-20-year (optional) bonds which Snerringer of Sycamore, offering 101.525, was the successful
were registered by the State Comptroller on Dec. 14 1910 bidder on Feb. 13 for the $1,000 5% 1-2-year (serial) water
(V. 91, p. 1793). Denomination $100. Date March 1 1910. and light plant improvement bonds described in V. 92, p. 409.
The following bids were received:
Interest annually on April 10.
T. Snerringer, Sycam're $1,015 25 People's Bank, Sycamore__ $1,007 50
Sherman, Grayson County, Texas.-Bonds Registered.- J.
965 00
Bucyrus City Bk., Bucyrus 1,011 001Stacy& Braun, Toledo..___
The State Comptroller registered $11,500 water-works bonds E. H. Hakes, Toledo
1,008 451
on Jan. 31 and $7,500 street-improvement bonds on Feb. 1;
Taylor County Common School District No. 19, Tex.both issues bearing 432% interest and maturing in 40 years, Bond Sale.-On Feb. 10 the State School Fund was awarded
subject to call after 20 years.
$8,000 5% bonds, due in 20 years, at par and accrued interest.
Springfield, Clark County, Ohio.-Bond Offering.-ProTippecanoe County (P. 0. La Fayette), Ind.-Bond
X.
Frank
by
14
March
m.
p.
posals will be received until 8
Offering.-Lee Duncan, County Treasurer, according to recoupon
432%
70
$1,054
for
Lothschuetz, City Auditor,
ports, will offer on Feb. 20 $8,600 road bonds.
street-improvement (city's portion) bonds.
Tipton, Moniteau County, Mo.-Bond Sale.-William R.
Denominations $500 and $554 70. Date Sept. 1 1910. Interest semiannually at the City Treasurer's office. Maturity Sept. 1 1932. Certified Compton Co. of St. Louis was awarded at 100.10 on Dec. 8
check for 5% of bonds bid for is required.
1910 the $17,500 5% 20-year electric-light-and-power-plantSilverton, Marion County, Ore.-Bonds Voted.-By a vote erection bonds offered on July 25 1910(V. 91, p. 232). Deof 245 to 60 this city on Jan. 31 authorized, it is stated, the nomination $500. Date Feb. 11911. Int. semi-annual.
issuance of $75,000 water and sewer-system bonds.
Toccoa, Stephens County, Ga.-Bond Offering.-ProSkagit County (P. 0. Mt. Vernon), Wash.-Bond Sale.- posals will be. received until 12 in. Feb. 20 by John W.
On Feb. 7 the $125,000 funding road and bridge and the Owen, Mayor, for $19,000 sewerage and $7,000 public-school
$100,000 road-improvement 10-20-year (optional) coupon 5% coupon bonds.
bonds described in V. 91, p. 1793, were awarded to N. W.
Denomination $1,000. Date Jan. 1 1911. Interest annually in Toccoa
Maturity Jan. 1 1941. Certified cheek for $500, payable
Halsey & Co. of Chicago at 100.082 and interest for 43/2s- or New York.
the "City of Toccoa," is required. Official advertisement states that the
to
a basis of about 4.49%.
been
validated by the Superior Court of Stephens County.
have
bonds
Bonded debt at present, $35,000. Floating debt,$6,000. Assessed valuaSlidell, Saint Tammany Parish, La.-Bonds Voted.-It is tion
1911, $1,800,000.
stated that a proposition to issue $20,000 5% 25-year schoolToledo, Lucas .County, Ohio.-Bond Offering.-Proposals
house-construction bonds was favorably voted on at an elec- will be received until 7 p. in. March 15 by J. J. Lynch, City
tion held Feb. 7. The vote was 90 "for" to 1 "against." Auditor, for the $110,000 4% coupon market-house-conInterest annual.
struction bonds mentioned in V. 92, p. 279.
Snyder, Kiowa County, Okla.-Bonds Voted.-The elecDenomination $1,000. Date Dec. 1 1910. Interest semi-annually at
issuing
of
question
the
of
favor
United States Mortgage & Trust Co. in New York City. Maturity Dec. 1
tion held Feb. 7 resulted in
Certified check on a national bank in Toledo for 5% of bonds, paya1927.
6%
ension
water-ext
$15,000
the $25,000 light-extension and
ble to the City Auditor, is required. Purchaser to pay accrued interest.
20-year bonds mentioned in V. 92, p. 339. The vote was
Torrance County School District No. 6 (P. 0. Willard),
•
188 "for" to 2 "against."
N.
Mex.-Bond Sale.-The $1,500 6% school-completion
South Norwalk, Fairfield County, Conn.-Bond Election bonds mentioned in V.91, p. 1052, have been sold to Chicago
on
vote
Proposed.-This city proposes to hold an election to
parties.
the question of issuing $100,000 432% 10-year bonds.
Tracy, Lyon County, Minn.-Bond Sale.-The $7,500
Essex
Orange),
South
0.
(P.
Township
South Orange
sewer, $6,000 water and $1,500 jail 4% bonds voted on
ComTownship
-The
Authorized.
-Bonds
J.
County, N.
Nov. 8 1910 (V. 91, p. 1470) have been purchased by the
mittee at a meeting held Jan. 31 decided, it is stated, to State of Minnesota at par.
bonds.
issue $12,000 park
Denominations: $500, $1,000 and $2,000. Date Jan. 19 1911. Interest
Sparta, Hancock County, Ga.-Bond Sale.-On Feb. 2 annually in July. Maturity part yearly on July 1 from 1918 to 1 926, incl.
Trenton, N. J.-Bond Sale.-On Feb. 15 the $80,000
the $40,000 5% 30-year gold water-works bonds described
2% 30-year registered or coupon school bonds described in
in V. 92, p. 279, were sold to J. H. Hilsman & Co. of Atlanta 4j/
at 101 and accrued interest-a basis of about 4.936%. Bids V. 92, p. 339, were awarded to Parkinson & Burr of New
were also received from the Georgia Mortgage & Trust Co., York City at 106.535-a basis of.about 4.119%. A list of
C. S. Cary, the Robinson-Humphrey Co. of Atlanta and the bidders follows:
& Burr, N. Y____106.535 Morgan, LIvermore&Co.,NY.105.705
Cutter, May & Co., Devitt, Tremble & Co., S. A. Kean & Co., Parkinson
_105.593
R. M. Grant & Co., N. Y____106.408 Kountze Bros.. New York_
Wright, N. Y_105.51
Farson Son & Co. and C. H. Coffin, all of Chicago. Mr. Harris, Forbes & Co.. N. Y_ _106.208 Wadsworth &Co.,
York_105.51
New
&
Day
L.
R.
York_106.18
ec Co., New
Coffin's bid, we are advised, was not accompanied by the Estabrook
W. C. Langley & Co., N. Y__106.179 John D. Everitt & Co., N. Y_105.41
required certified check.
N. W. Halsey & Co.. N. Y__106.133 First Nat. Bank, Trenton....iO4.40
S. Fariee & Co.. N. Y_ __ _106.02 Farson, Son & Co., N. Y _ __ _103.015
Stanford, McLean County, Ill.-Bonds Voted.-An election J.
Biodget & Co.. New York__ _105.79 Seasongood & Mayer, Win__ _103.20
held Dec. 31 resulted in favor of a proposition to issue $7,000 James R. Magoffin, N. Y___105.75 I
5% water-works-system bonds. The vote was 103 "for" to
Trinity School District (P. 0. Trinity), Trinity County,
16 "against." Maturity from Jan. 1 1912 to Jan. 1 1925 in- Tex.-Bond Offering.-Proposals will be received until
clusive, subject to call after 1914. These bonds, we are 3 p. m. Feb. 20 by J. H. McLaughlin, President, for $13,500
advised, will be offered at private sale.
5% coupon school-construction bonds.
$500. Date July 1 1910. Interest annually in Austin
Stockton, San Joaquin County, Cal.-Bonds Defeated.- or Denomination
at the First State Bank in Trinity at option of holder. Certified cheek
The election held Jan. 24 resulted in the defeat of the propo- for $500, payable to President, is required. No debt at present. Assessed
sitions to issue the following bonds mentioned in V. 91, valuation for 1910, $557,654.
Troy, N. Y.-Bond Sale.-The following 4% bonds were
p. 1664:
$290,609 76 street-improvement bonds. Vote 666 "for" to 1,195 "against." sold on Feb. 10 to W. N. Coler & Co. of New York City:
Denomination $1,000. Date Feb. 8 1911. Interest annual. Maturity
$3,000 yearly on Feb. 8 from 1912 to 1931 inclusive. Certified check for
5% of bid, payable to Chris. Jorgensen, Chairman Board of Supervisors, Is
required.
100,000 00 fire-department bonds. Vote 823 "for" to 1,032 "against."
40,000 00 sanitary-sewer bonds. Vote 705 "for" to 1,128 "against."
77,000 00 rain-water-sewer bonds. Vote 679 "for" to 1,170 "against."
Strongsville Township (P. 0. Strongsville), Cuyahoga
County, Ohio.-Bond Sale.-On Feb. 14 the First National
Bank of Cleveland was awarded the $4,000 04% coupon
road-improvement bonds described in V. 92, p. 211, at,
101.343 and interest. The following proposals were submitted:
00
First National Bank, Clev_$4,053 751Seasongood & Mayer, Cin..$4,041 00
Stacy & Braun, Toledo_ _ _ 4.042 00 Bank of Berea Co., Berea__ 4,000
Maturity $500 yearly on Oct. 1 from 1912 to 1919 inclusive. Total debt
of township, this Issue. Assessed valuation, $739,000.
$26,000 1-10-year (serial) tax-deficiency bonds of 1908 and 1909, awarded
for $26,321 20, or 101.235-a basis of about 4.246%. Denomination $2,600. Date Dec. 1 1910. Interest semi-annual.
16,000 1-20-year (serial) Congress Street improvement bonds awarded for
$16,481 20, or 103.007-a basis of about 4.145%. Denomination
$800. Date Feb. 1 1911. Interest semi-annual.
A list of the bids submitted for the above bonds follows:
W. N. Coler & Co., New York
Troy Savings Bank, Troy
R. M. Grant & Co., New York
Farson, Son & Co., New York
Manufacturers' National Bank, Troy
James R. Magoffin, New York
E. H. Rollins & Sons, Boston
$16,000 Bonds.
$16,481 20
16,334 40
16,340 48
16,338 00
16,161 00
16,300 00
a $42,642 18
$26,000 Bonds.
$26,321 20
26,314 60
26,310 08
26,302 00
26,145 00
Suffolk, Nansemond County, Va.-Bond Offering.-Proa For both issues.
posals will be received until 12 m. March 15 by R. S. Boykin,
Tulsa,Tulsa County, Okla.-Bond Election Proposed.-This
(with
of
privilege
5%
coupon
$40,000
the
City Treasurer, for
city purposes to hold an election to vote on the question of
279.
p.
92,
V.
in
mentioned
bonds
registration) school
issuing $100,000 city-hall bonds. Up to Feb. 10, however,
Denomination $500. Date May 1 1911. Interest semi-annually at the no date had been fixed for the election.
City Treasurer's office. Maturity 10 years. Bonds are exempt from city
payable to the City Treasurer, is
taxes. Certified check for 5% of
Utica. Seward County, Neb.-Bonds Defeated.-A propobid'the city has never defaulted in any
required. Official circular states that
sition to issue bonds was defeated at an election held Feb. 7.
interest payment.
•
FEB. 18 1911.1
THE CHRONICLE
487
Valley, Douglas County, Neb.-Bonds Offered by Bankers.
Washington, Beaufort County, No. Caro.
-The $5,000 6% 10-20-year (optional) water-extension -Proposals will be received until 12 in. -Bond Offering.
bonds voted on Aug. 29 1910 (V. 91, p. 747), are being of- Windley, City Clerk, for $15,000 5% gold March 8 by W. B.
refunding bonds.
fered to investors by Chas. S. Kidder & Co. of Chicago.
Denomination, not less than $100 nor more than $1,000, at the option
Date Oct. 1 1910. Interest annually at the fiscal agency in New York
City. Total debt, $17,000. Assessed valuation $136,818. Real value
(estimated), $500,000.
Ventnor City (P. 0. Atlantic City), Atlantic County, N. J.
-Bonds Not Sold.-No award has yet been made of the
$9,000 sewer and the $50,000 Ventnor Avenue improvement
5% bonds offered on Dec. 7 1910. See V. 91, P. 1794 and
1530. The $9,000 bonds are the unsold portion of the issue
of $25,000 bonds.
Ventura County (P. 0. Ventura), Cal.-Bond Sale.-The
Supervisors, it is stated, have rescinded the award made on
Jan. 5 of $176,000 5% bridge bonds to N. W. Halsey & Co.
of San Francisco, and have accepted the flat offer of the same
firm of a premium of $17,768 30 for the entire issue of
$225,000.
Vernon (P. 0. Los Angeles), Los Angeles County, Cal.Bonds Not Sold.-Reports state that no bids have yet been
received for the $100,000 5% 1-40-year (serial) gold coupon
street-improvement bonds offered on Feb. 7 and described in
V. 92, p. 280.
Wapakoneta, Auglaize County, Ohio.-Bond Offering.Proposals will be received until 12 m. Feb. 27 by Fred. A.
Klipfel, Village Clerk, for $18,500 4 2% coupon funding
bonds.
of the purchaser. Interest semi-annual. Maturity 30 years. Certified
check for 2% of bid, payable to the City Treasurer, is
required.
Washington County (P. 0. Washington), Pa.-Bond Sale.
-The $25,000 4% coupon (with privilege of registration)
road bonds (the unsold portion of the issue of $100,000 21year bonds mentioned in V. 91, p. 1117), were sold about
Dec. 1 1910 to the First National Bank of Monongahela at
par and accrued interest.
Washington C. H. School District (P. 0. Washington
C. H.), Fayette County, Ohio.-Bond Sale.-Weil, Roth &
Co. of Cincinnati were awarded at par and accrued interest
the $100,000 4% school-building bonds mentioned in V. 91,
p. 743. Denomination $5C0.
Wetmore,Nemain County, Kan.-Bond Sale.-The $6,000
municipal-electric-light-plant bonds voted on Sept. 30 1910
(V. 91, D. 1053) were sold and delivered last month.
Wharton, Wharton County, Texas.-Bonds Registered.The State Comptroller registered $1,995 5% 10-40-year (optional) water-works-improvement bonds on Jan. 24.
Wichita, Sedgwick County, Kans.-Bonds Authorized.An ordinance has been passed providing for the issuance of
the following 5% coupon North Market St. paving bonds:
$1,408 97 bonds to
Improve the street intersections. Denomination $150,
except one bond of $58 97.
4,785 96 bonds to improve North Market Street, exclusive of street
intersections. Denomination $500, except one bond of $285 98.
The above bonds are dated Jan. 1 1911. Interest semi-annually
Denominations 10 bonds of $1,000 each and 10 bonds of $850 each.
the
Date Feb. 1 1011. Interest semi-annually at the Village Treasurer's office. fiscal agency of Kansas in Topeka. Maturity one bond of each issue at
Maturity $1,850 yearly on Feb. 1 from 1912 to 1921 inclusive. A deposit on Jan. 1 from 1912 to 1921 inclusive, the odd bond maturing first inyearly
each
of $300 in cash is required with bid. Purchaser to pay accrued interest. case.
Bidders must satisfy themselves as to legality of bonds before submitting
Bond Sale.-An issue of $105,000 5% improvement bonds
bids, which must be unconditional.
has been disposed of to local investors.
Ward County (P. 0. Minot), No. Dak.-Bond Sale.-On
Wilbarger
$50,000
Feb. 10
7% 2-year seed-grain bonds were awarded Bond Sale. County Common School District No. 15, Tex.
-The $4,000 5% 10-20-year (optional) bonds
to Wells & Dickey Co. of Minneapolis at 100.76.
registered
by the State Cotnprtoller on Dec. 10 1910 (V. 91,
Denomination $500. Date March 15 1911. Interest semi-annual.
p. 1794), have been sold.
Warren, Trumbull County, Ohio.-Bonds Voted.-An elecWildwood, Cape May County, N. J.-Bonds Voted.-An
tion held Feb. 11 resulted in favor of a proposition to issue election held Feb. 9 resulted
in favor of a proposition to issue
$30,000 park bonds. According to reports, the vote was $20,000 5% 20-year
board-walk bonds. The vote was 128
1,037 "for" to 290 "against."
"for" to 8 'against."
NEW LOANS.
NEW LOANS.
NEW LOANS.
$525,000
$25,000
$100,000
CITY OF TACOMA, WASH., Town of Conrad, Montana, JACKSONVILLE, FLORIDA,
REFUNDING BONDS OF 1911
By order of the City Council of the City of
Tacoma,
Notice 18 hereby given that on SATURDAY,
MARCH 4, 1911, at the office of the Treasurer
of the City of Tacoma, Washington, in the City
Hall, at 2 o'clock in the afternoon of said day,
sealed bids will be received for an issue of City of
Tacoma bonds in the sum of $525,000. Said
bonds are general bonds of the City of Tacoma of
the par value of $1,000 each, payable on the first
day of April, 1931, with interest at not exceeding
Five Per Cent per annum, payable semi-annually
the Fiscal Agency of the State of Washington,
in the City of New York, and are known as City
of Tacoma Refunding Bonds of 1911, issued
pursuant to Ordinance No. 4448, passed January
25, 1911.
Bids must be for a sum at least equal to par
and accrued interest, and must be accompanied
by a certified check in the sum of 45,000 to be
forfeited to the City of Tacoma by the successful
bidder if he falls to take and pay for said bonds
within the time prescribed herein.
The said bonds are issued for the purpose of
refunding certain bonds issued by the City of
Tacoma in 1891, known as Funding Bonds and
City Hall Bonds, in the sum of $550,000. The
successful bidder for said bonds will be required
to take up and pay for the same between the 1st
and 10th days of April, 1911, by depositing the
sum of $525,000 with the Mercantile Trust Company in the City of New York to the credit of
the City of Tacoma for the redemption of said
Funding and City Hall Bonds of 1891, and by
paying the excess of his bid, if any, over said
sum, to the City Treasurer of said City of Tacoma:
provided that any other method of payment may
be arranged for between the City and said bidder.
Said bonds will be sold to the person or persons
making the most advantageous offer therefor,
with the right reserved to said city to reject any
or all bids.
*AI
For all other information apply to J. F. Meads,
City Controller,
Dated, Tacoma Wash., Jan. 28, 1911.
SINKING FUND BOARD.
A. V. FAWCETT,
Mayor.
J. F. MEADS,
Controller.
RAY FREELAND,
Commissioner of Finance.
MUNICIPAL BONDS
SEWER BONDS
Notice is hereby given by the Town Council of
the Town of Conrad, in the State of Montana,
that the Sewer Bonds of said town in the sum
of $25,000 will be offered for sale at public auction, to the bidder offering the highest price therfor, in accordance with the terms of this notice,
at the Council Chamber of the Town Council of
the Town of Conrad, in the Town of Conrad.
County of Teton, in the State of Montana, on the
10th day of April, 1911, at 2 o'clock p. m. Said
bonds are to be dated January 1st, 1911, and be
payable in twenty years from the date thereof,
and $3,000 thereof shall be redeemable in 5 years;
$5,000 redeemable in 10 years, and $5,000 redeemable in 15 years, at the option of the Town
Council, and shall bear interest at the rate of 6%
per annum, payable semi-annually on the first
day of January and July in each year. Said
bonds will be ready for delivery at the time of
sale, and all:tenders, bids or offers to purchase
must be without condition or qualification, and
be accompanied by a certified check for the full
amount of said bid. Bids should be addressed
to F. H. Pings, Mayor of Conrad, Montana. The
Council reserves the right to reject all or any bids
or offers of purchase.
Dated at Conrad, Montana, this 8th day of
February,1911.
By order of the Town Council.
A. HOPPER,
Town Clerk.
CORPORATION AND
MUNICIPAL BONDS
MUNICIPAL AND RAILROAD
BON DS
LIST ON APPLICATION
CH ICA 00
BANKERS
•
44 and 46 Wall Street, New York
INVESTMENT SEM:MT/El
Bills of Exchanges.
Letters of Credit.
LAWYER
Specializing in Examination of
Municipal and Corporation Bonds
1312 FIRST NATIONAL BANK BLOU..
CHICAGO, ILL.
86 WALL STREET
INDUSTRIALS
FIRST NATIONAL BANK BUILD/NC,
CHICAGO
SEASONGOOD & MAYER
4% to 6% 'It'
Ctrcular
Mercantile Library Building
CINCINNATI
ULEN & CO.
H. AMY & CO.
F. WM. KRAFT
Charles M. Smith & Co. C. B. VAN NOSTRAND
West investments
known. Yielding from
BANKERS
5% IMPROVEMENT BONDS
Sealed proposals will be received by the undersigned Board of Bond Trustees of Jacksonville,
Florida, until March 6th, 1911, at 3 o'clock p. m.,
for the purchase of all or any part of $100.000
five per cent Improvement Bonds of the City of
Jacksonville, Florida. The legality of the bonds
has been approved by Messrs. Dillon, Thomson &
Clay of New York. Printed circulars containing
more definite information with reference to said
bonds and blank forms for bids can be had on
application to the Auditor of the Board of Bond
Trustees, Jacksonville. Florida, or to Messrs.
Dillon, Thomson & Clay of New York.
W. M. BOSTWICK, Jr..
Chairman of Board of Bond Trustees.
BLODGET & CO,
BONDS
60 STATE STREET, BOSTON
30 PINE STREET. NEW YORK
STATE, CITY & RAILROAD BONDS
ESTABLISHED 1885
RODENPYL, WALBRIDGE & Co.
II C. SPEER & SONS CO.
7 Wall St., New York
First Nat. Bank Bldg., Chicago
SCHOOL,
COUNTY AND MUNICIPAL BONDA
Railroad, Street Ey., Gas & Elea. Light
SECURITIES
[VoL. Lxxxxii.
THE CHRONICLE
488
Williams County (P. 0. Williston), No. Dal.—Bond Sale.
—The Farmers' Trust Co. in Fessenden has been awarded at
par $15,000 7% 5-year bonds for the purchase of seed. Denomination $500. Date March 1 1911. Interest semi-ann'l.
Windom School District No. 6 (P. 0. Windom), Cottonwood County, Minn —Bonds Voted and Sold.—On Feb. 7
this district voted to issue $35,000 building bonds to the State
of Minnesota.
Winthrop School District(P.0. Winthrop),Sibley County,
Minn.—Bond Sale.—The State of Minnesota has purchased
the $20,000 school-building-addition bonds recently voted
(V. 92, p. 410).
Wood County Common School Districts, Tex.—Bond
Sales.—The following 5% bonds were sold on Feb. 10 to the
State School Fund at par and accrued interest: $1,000 1020-year (optional) bonds of District No. 1, $1,000 10-20-year
(optional) bonds of District No. 37 and $4,000 10-40-year
(optional) bonds of District No. 21.
Wooster, Wayne County, Ohio.—Bond Sale.—According
to reports, on Feb. 4 the $25,000 4% coupon water-worksconstruction bonds described in V. 92, p. 213, were awarded
to the Wayne County National Bank and Citizens' National
Bank in Wooster at their joint bid of 100.10. Maturity
Dec. 1 1930.
Worcester, Mass.—Bids.—The following bids were also
received for the $375,000 4% 10-year bonds awarded on Feb.
10 to Hayden Stone &Co. of Boston at 103.826—a basis
of about 3.543h (V. 92, p. 411):
103.557 R. L. Day & Co
1103.279
Biodget & Co
103.5047 Estabrook & Co
&Edgerly Crocker
103.429 A B. Leach SG Co
103.26
Merrill, Oldham & Co
1103.395 E. H Rollins & Sons
1103.186
Blake Bros. do Co
Perry, Coffin & Burr
E. M. Farnsworth & Co_ _
103.33
Adams & Co
• The above bidders are all of Boston. Denomination to suit the purchase
Date Jan. 1 1911.. Interest semi-annual.
Worthington, Nobles County, Minn.—Bond Offering.—
Proposals will be received until 8 p. m. Feb. 23 for $12,000
water-improvement bonds at not exceeding 5% interest.
Denomination $1,000. Date March 1 1911. Maturity March 1 1931.
Certified check for 5% of bonds bid for is required. Wm. Ronan is Mayor
and 0. Carncross, City Clerk.
Young America School District (P. 0. Young America),
Carver County, Minn.—Amount of Bonds Voted.—The
amount of bonds authorized at the election held last December (V. 91, p. 1794) was $30,000.
Canada, its Provinces and Municipalities.
Basano, Alberta.—Debenture Sale.—The $2,000 6% (not
7% as at first reported) coupon improvement debentures
mentioned in V. 91, p. 1727, were awarded about Jan. 15 to
the Ontario Securities Co., Ltd., of Toronto at par.
Date Jan. 1 1911. Interest annually on Dec. 31. Maturity part
yearly for 10 years.
Birtle, Man.—Debentures Not Sold.—The Secretary-Treasurer advises us under recent date that two issues of 4
debentures , aggregating $18,600. which were offered on
Aug. 9, 1910 and described in V.92, p.'295, have not yet been
sold.
Brant Township (P. 0. Elmwood), Ont.—Debenture
Offering.—Proposals will be received until 12 m. March 8
by F. W.Miehlhausen, Township Clerk,for $2,000 5% schoolbuilding debentures. Maturity 15 years.
Oanora, Sask.—Debenture Sale.—This village sold $8,500
permanent-improvement debentures last month to Nay Sc
James of Regina.
Dundum, Sask.—Debenture Offering.—Proposals will be
received until Feb. 28 by F. E. Livingstone, Secretary-Treasurer, it is stated,for the $14,0008% permanent-improvement
debentures. Maturity part yearly for 20 years. These securities were previously offered on Feb. 4. See V. 92, p. 281.
Edmonton, Alberta.—Debentures Voted.—The propositions to issue the following 434% debentures were favorably
voted upon Jan. 26:
$184,000 debentures for a bridge over Saskatchewan River. Vote 912 to 126.
175,000 debentures for exhibition buildings. Vote 901 to 127.
10,000 debentures to widen the Groat Ravine Bridge. Vote 799 to 150.
12,450 debentures for the Jasper Avenue Subway. Vote 930 to 66. .
91,250 debentures to purchase industrial sites. Vote 871 to 122.
3,500 debentures to build an addition to the city hall. Vote 910 to 60.
We are informed that it is not likely that these debentures
will be offered for sale before about next June. Our informant further states that the city anticipates submitting more
NEW LOANS.
MISCELLANEOUS.
The
Trust Company of America
37-43 WALL STREET, NEW YORK.
LONDON OFFICE,
COLONIAL BRANCH,
222 Broadway, New York.
95 Gresham St.
CAPITAL AND SURPLUS $8,000,000
Invites accounts of individuals firms and corporations.
Pays interest on daily balances,
Executes trusts ot every description.
MELLON NATIONAL BANK
PITTSBURGH, PA.
As your reserve depositary, this
bank offers you perfect service and
liberal interest on your balances.
CAPITAL AND SURPLUS,
$7,000,000
FORTY-ONE STATE LEGISLATURES
AND CONGRESS
ARE ABOUT TO CONVENE
ror full information
as to our system of reporting on proposed
or new legislation relating to Transportation, Commerce,
Manufacturing, and similar_subjects, address
ght Taxaxation ',Crust To.
37 Wall Street, New York
$500,000
SAN JOAQUIN COUNTY, CALIFORNIA,
HIGHWAY BONDS
Sealed proposals will be received by the Board
of Supervisors of San Joaquin County, California,
until Monday, March 6, 1911, at 10 o'clock a. m.
for the purchase of all or any part of $500,000 of
Highway Bonds of a $1,890,000 issue of five per
cent Highway Bonds of said County; principal
and interest payable at Kountze Brothers, New
York City, or at County Treasury, at option of
holder.
Legality of Bonds will be approved by Dillon &
Hubbard, New York. Bids must be made on
blank forms furnished by County. Printed circulars containing full information and blank forms
for bids can be had on application to Eugene D.
Graham, County Clerk, Stockton, California, or
to Dillon & Hubbard. New York.
EUGENE D. GRAHAM,
County Clerk of San Joaquin County. California.
UNITED STATES
MORTGAGE & TRUST
COMPANY
NEW YORK
SURPLUS,
$4,000,000.00
CAPITAL,
$2,000,000.00
Invitee Personal and Business
Accounts. Acts as Trustee, Executor, Administrator, Guardian and in all Fiduciary
Capacitiee. Certifies Municipal and Corporation Bonds,
••1=11•11
56 Cedar St.
5'7/37 k tird St.
125th St. A Stn MR.
OTTO JULIUS MERKEL
BROKER
44 AND 46 WALL STREET. NEW YORK
INVESTMENT SECURITIES
Correspondence Invited
FEB. 18 1911.]
THE CHRONICLE
by-laws to a vote in the near future, and, if these carry, it is
the intention to place them all on the market at the same
time.
Edmonton Highlands School District No. 2292, Alberta.Debenture Sale.-An issue of $8,000 school debentures was
sold during January to Nay & James of Regina.
Gleichen, Alberta.-Debenture Sale.-It is stated that
Aemilius Jarvis & Co. of Toronto have been awarded $31,000
water-works and $5,000 municipal-building 6% debentures,
re-payable in 20 annual installments.
Holdsworth School District No. 2686, Sask.-Debenture
Sale.-School debentures aggregating $2,200 were awarded
last month to Nay & James of Regina.
• Limerick School District No. 2445, Sask.-Debenture Sale.
0
-Nay & James of Regina have purchased at par $1,500 537
20-year school-building debentures. Interest annually on
Dec. 30. The debentur.es were awarded in Feb. 1910.
London, Ont.-Debenture Offering.-Proposals will be received until 4 p. m. March 3 for the following coupon debentures:
$7,000 4% public-school debentures. Maturity 30 years from June 30
1909.
16,000 4% water-works debentures. Maturity 30 years from June 30 1910.
36,300 4 M% public-school debentures. Maturity 30 years from June 30
1910.
4,000 4;i% local-improvement debentures. Maturity 10 years from
Dec.30 1910.
Denomination 31,000, except one debenture of $300. Interest June 30
and Dec. 30 at the City Treasurer's office or at any branch of the Molson's
Bank in Canada. Certified check for $1,000 with bids for all the issues, or
2% of tender for an amount less than $25,000, is required. Purchaser to
pay accrued interest. Bids must be unconditional and made on blank
forms furnished by the City Treasurer. Delivery of debentures March 17
1911. Debenture debt, including this issue, $3,409,084 54. Assessed
valuation $28,062,078. James S. Bell Is City Treasurer.
Louth Township, Ont.-Debenture Sale.-Aemilius Jarvis
& Co. of Toronto are reported as having purchased $4,000
5% school debentures, due part yearly for 25 years.
Macklin, Sask.-Loan Proposed.-Reports state that this
village will borrow $65,000 for permanent improvements.
Marquis, Sask.-Debenture Sale.-Nay & James of Regina,
purchased $2,000 permanent-improvement debentures during January.
North Bay, Ont.-Debenture Offering.-Proposals will be
received until 12 m. March 1 by M. W. Flannery, Town
489
Treasurer, for $18,000 storm-sewer and $16,000 school 5%
debentures. Maturity part yearly for 20 years.
North Vancouver, B. 0.-Debenture Offering.-Proposals
will be received until 8 p. m. Feb. 27 by Thos. Shepherd,
City Clerk, for $141,000 5% general debentures. Maturity
50 years.
Pincher Creek, Alberta.-Debenture Offering.-Proposals
will be received until Feb. 20 by G. D. Plunkett, SecretaryTreasurer, for $22,000 6% debentures,for the purchase and
improvement of the electric-light-plant. The issue is repayable in 20 annual installments of principal and interest.
Qu'Appelle, Sask.-Debenture Sale.-The $5,477 50 6%
15-year sidewalk debentures have been awarded to Brent,
Noxon & Co. of Toronto.
Rapid City, Man.-Debenture Offering.-Proposals will be
received at any time for $1,600 5% park-purchasing debentures. Authority vote of 32 to 14 at the election held
Feb. 6 (V. 92, p. 341).
Saltcoats School District No. 140 (P. 0. Saltcoats), Sask.
-Debenture Sale.-This district disposed of $7,000 5M%
debentures during January to Nay & James of Regina.
Maturity part yearly for 20 years.
Simcoe, Ont.-Debenture Sale.-Reports state that Brent,
Noxon & Co. of Toronto have been awarded $3,000 43%
30-year debentures.
Star City, Sask.-Loan Authorized.-We see it stated that
this village has been authorized to borrow $1,000 for permanent improvements.
Tilbury East Township, Ont.-Debenture Sale.-G. A.
Stimson & Co. of Toronto have been awarded, it is stated,
$34,728 66 4 2% and 5% debentures.
Vancouver, B. 0.-Debentures Voted.-The election held
Jan. 12 resulted in favor of propositions to issue 4% 40-year
debentures, dated Feb. 1 1911 and aggregating $2,525,000.
Webb, Sask.-Debenture Sale.-Nay & James of Regina
were the successful bidders last month for $20,000 permanent-improvement debentures. These securities are in addition to the $5,000 debentures also purchased by Nay &
James, as reported in V. 92, p. 341.
MISCELLANEOUS.
ACCOUNTANTS.
OFFICE OF TIIE
HASKINS & SELLS
ATLANTIC MUTUAL INSURANCE COMPANY.
CERTIFIED PUBLIC ACCOUNTANTS
New York, January 20th, 1911.
The Trustees, in conformity with the Charter of the Company, submit the following statementof its affairs
an the 31s1 of December, 1910.
$3.981,907 36
Premiums on Marine Risks from 1st January, 1910, to 31st December, 1910
685,546 90
Premiums en Policies not marked off 1st January. 1910
30 BROAD STREET
Premiums marked oft from lit January, 1910, to 31st December. 1910
LONDON. E. C., 30 Coleman St.
CHICAGO
CLEVELAND
ST. LOUIS
PITTSBURGH
$4.667,544 25
Total Marine Premlumi
NEW YORK
$373,571 50
146,586 91
Interest received during the year
Rent less Taxes and Expenses
$3.793,863 88
$520,158 41
Losses paid during the year which were estimated in 1909
$504,311 33
and previous years
1,021.356 12 11,525,667 45
Losses occurred, estimated and paid in 1910
BALTIMORE
Less Salvages
Re-insurances
$195,931 27
402,106 63
598.037 00
$927,629/55
LYBRAND,
ROSS BROS St,
MONTGOMERY
Certified Public Accountants
(Pennsylvania)
55 Liberty St.
NEW YORK,
PHILADELPHIA,
Land Title Bldg
PITTSBURGH,
Union Bank Bldg
CHICAGO, First National Bank Bldg.
JAMES PARK & CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York, Chicago, Cincinnati and
London, England.
Returns of Premiums
Expenses, Including officers' salaries and clerks' compensation, stationery,
newspapers, advertisements, etc
1
,132,651 56
$363,223 39
ASSETS.
United States & State of New York
Stock, City. Bank and other Securities
$5,418.792 00
Special deposits in Banks &TrustCos. 1,200,916 66
Real Estate cot. Wall 6: WilliamSts.,
& Exchange Place_$4,299,426 04
Other Real Estate &
claims due the company
75,000 00 4,374,426 04
LIABILITIES.
Estimated Losses and Losses Unsettled
12.714,035 88
Premiums on Uuterminated Risks_
873.680 37
Certificates of Profits and Interest
Unpaid
262,427 75
Return Premiums Unpald___
146.084 03
Reserve for Re-Insurance Premiums
& Claims ot settled, including
Compensation. etc
160.000 00
Certificates of Profits Ordered RePremium notes and Bills Receivable 1.134.448 70
deemed, Withheld for Unpaid
Cash in the hands of European
Premiums
22,459 61
Certificates of Profits OutstandBankers to pay losses under poll.
ing
210,435 74
7.441,100 00
des payable in foreign countries_
Ca.h in Bank and N. Y. City revReal Estate Reserve Fund-400,000 00
enue bonds
935,478 76
Aggregating
$13,274,497 90
Aggregating
812.019,787 64
A dividend of interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the seventh of February next.
The outstanding certificates of the Issue of 1905 will be redeemed and paid to the holders thereof,
AUDITORS FOR FINANCIAL INSTITU. or their legal representatives, on and after Tuesday the seventh of Februarynext,from which date all
T/ONS, INDUSTRIAL AND
Interest thereon will cease. The certificates to be produced at the time of payment and canceled.
MINING COMPANIES
A dividend of Forty per cent is declared on the earned premiums of the Company for the year
ending 31st December, 1010, which are entitled to participate in dividend, for which, upon appliInveetigations, Financial Statements,
Periodical Audits and Accounting cation, certificates will be issued on and after Tuesday the second of May next.
U. STANTON FLOYD-JONES. Secretary,
By order of the Board.
TRUSTEES.
CHARLES M. PRATT.
FRANCIS M. BACON,
HERBERT L. GRIGGS.
JOHN N. BEACH.
DALLAS B. PRATT,
CLEMENT A. GRISCOM,
ERNEST C. BLISS,
GEORGE W. QUINTARD,
ANSON W. HARD. .
VERNON H. BROWN,
A. A. RAVEN,
THOMAS H. IIUBBARD.
WALDRON P. BROWN,
JOHN J. RIKER,
LEWIS CASS LEDYARD,
DOUGLAS ROBINSON.
JOHN GLAFLIN,
CHARLES D. LEVERICEI,
GUSTAV H. SCHWAB.
GEORGE 0. CLARK,
LEANDER N. LOVELL.
CLEVELAND H. DODGE,
WILLIAM SLOANE,
GEORGE H. MACY,
MANILA; SISAL AND JUTE
CORNELIUS ELDERT,
CHARLES H. MARSHALL, LOUIS STERN,
RICHARD IL EWART.
WILLIAM A. STREET,
NICHOLAS F. PALMER,
PHILIP A. S. FRANKLIN.
GEORGE E. TURNURE.
HENRY PARISH,
ADOLF PAVENSTEDT,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
WALTER WOOD PARSONS, 25 Vice-President.
CHARLES H. FAY, 3d Vice-President.
JOHN_H. JONES STEWART. 4Sfi Vice-Frestient
THE AMERICAN MFG. CO.
CORDAGE
$5 Wall Street
New York
490
THE CHRONICLE
LxxxxIi.
gvast Tompanigs.
'grust (Companies.
Meg Stales Trust Gong at jim York,
Chartered 1853
45 and 47 WALL STREET
CAPITAL,
SURPLUS AND UNDIVIDED PROFITS
-
-
-
-
$2,000,000.00
$13,772,667.70
This Company acts as Executor, Administrator, Guardian. Trustee. Court Depositary and in
other recognized trust capacities.
It allows interest at current rates on deposits.
It holds, manages and invests money, securities and other property, real or personal, for estates,
corporations and individuals.
Manhattan
Trust
Company
EDWARD W. SHELDON, President.
HENRY E. AHERN, Secretary.
WILLIAM vs. KINGSLEY, V.-Pres.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A. EDWARDS,2d Asst.Sec.
W. Bayard Cutting,
William Rockefeller,
Alexander E. Orr,
William H. Macy Jr..
William D. Sloane,
Gustav H. Schwab,
TRUSTEES.
JOHN A. STEWART. Chairman of the Board.
Payne Whitney,
Frank Lyman,
Edward NV. Sheldon.
James Stillman.
Chauncey Keep,
John Clatlin.
George L. Rives,
John J. Phelps,
Arthur C. James,
Lewis Cass Ledyard.
William M. Kingsley,
Lyman J. Gage,
William Stewart Tod,
Ogden Mills,
Egerton L. Winthrop
Cornelius N. Bliss, Jr.
Temporary Offices
113 BROADWAY
WALL STREET
CORNER NASSAU
FIDELITY TRUST COMPANY
NEWARK, N. J.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Acts as Executor,Trustee, Administrator and in all fiduciary capac ties
Takes entire charge of Real and Personal Estates. Guarantees Titles ..f
Real Estate throughout New Jersey,
General Banking and Savings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
CENTRAL TRUST COMPANY
of NEW YORK
54 Wall Street
Capital and Surplus, $18,000,000
(of which $17,000,000 has been earned)
Authorized to act as Executor, Trustee, Administrator or Guardian..
Receives Deposits, subject to check, and allows Interest on Daily Balance,
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
CHARTERED 1864
Union Trust Companyof NewYork
MAIN OFFICE: 80 BROADWAY.
Uptown Office: 425 Fifth Avenue, corner.35th Street,'
With Modern Safe Deposit Vaults
Capital $1,000,000
Surplus (earned) $7,800,000
ALLOWS INTEREST ON DEPOSITS.
Acts as
Executor, Guardian, Trustee, Administrator and in all Fiduciary Capacities
on behalf of Individuals, Institutions or Corporations.
Mississippi Valley Trust Co.
Fourth & Pine Sts., St. Louis,
CAPITAL, SURPLUS )
$8 640 000
and PROFITS.
'
A GENERAL FINANCIAL AND FIDCOTARY
BUSINESS TRANSACTED.
DIRECTORS.
I ienry Semple Ames, Vice-President.
kt
Bagnell, President Bagmen Timber Co.
Jona l. Beggs, President Milwauxee Light Heal a
Traction Co.
Wilbur F. Boyle. Boyle & Priest
lames L. Brock, Secretary.
Burray Carleton, President Carleton Dry Goods C a.
Charles Clark.
Horatio N. Davis, President Smith &Davis Mfg.08.
John D. Davis, Vice-President.
David R. Francis, Francis, Bro. de Co.
S. I:. Hoffman, Vice-President.
Breckinridge Jones, President.
Wm.
Lackey. Vice-President and Bond Office)
W. J. McBride. V.-Pres. Haskell & Barker Car Os
Nelson W. McLeod, Vice-President Graysos•
McLeod Lumber Co.
Saunders Norvell, President Norvell-Shapleigl
Ilard ware Co.
Robert J. O'Reilly, M. D.
Wm. D. Orthweia, President Wm. D. Orthwea.
Grain Co.
Henry W. Peters, President Peters Shoe Co.
H.C. Pierce, Chairman Board Waters- Plerce011 Os,
August Schlafly, August Schlatly & Sons.
R. H. Stockton, President Majestic Mfg, Co
Julius S. V,alsh. Chairman of the Board.
Rolla Wells
Industrial Trust Company
Providence, R. I.
CAPITAL
SURPLUS-
8.000.00;
OFFICERS.
Cyrus P. Brown, President
Arthur L. Kelley. Vice-President
H. Martin Brown, Vice-President
Otis Everett, Vice-President
Joshua M. Addernan, Vice-President
Ward E. Smith. Treasurer
Chas. H. Manchester. Secretary
H.Howard Peoper. Asst.Tree*.
Frederick B Wilcox,Auditat
BOARD OF DIRECTORS.
-inmuel P. Colt
Herbert N. Fennel
Olney T. Inman
J. Milton Payne
Riohard A. Robertson Eben N. Littlefield
Joshua M. Addeman
Otis Everett
James M. Scott
C. Prescott Knight
William H. Perry
Jesse H. Metcalf
Arthur L. Kelley
John J. Watson 31.
If. Martin Brown
Charles H. Allen
George F. Baker
John B. Branch
George M. Thornten
William P. Chapin
Cyrus P. Brown
Angus McLeod
Ezra Dixon
Chas. 0. Harrington
Louie H. Comstock
Howard 0. Sturgis
Englehart C. Ostby
Edward D. Pearce
1850
3fttinoi5
utak) Company
Homo Office, 206 La Salto Street
CHICAGO
WRITES ALL CLASSES SURETY BONDS
Court—Fidelity—Contract—Miscellaneous
The motto of the Illinois Surely Company is "Prompt Service"
both In the handling of its business and the adjustment of ita bisoes
irAaPtaar.......raarrsa.
1911
The United States Life
Insurance Co.
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
JOHN P. MUNN, M. D., President.
Finance Committee
G.,A HENCE H. KELSEY.Pres. Title Gu.lierr.0a,
ATM. H. PORTER,Pres, Chemical National Bank
O. TOWNSEND,Pres. Imp. & Traders Nat, Bk.
Good men, whether experienced in life insurance
pr not, may make direct contracts with this CoraJany, for a limited territory if desired, and secure
'or themselves. In addition to first year's commis
don, a renewal Interest Insuring an income for the
'uture. Address the Company at its Rome Office
Mo. 277 Broadway, New York CitV
@FedFRASER