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financial
1411e.
tillinurct31
INCLUDING
Bank & Quotation Section
Railway Earnings Section
lirontedtv
Railway & Industrial Section
Bankers' Convention Section
SATURDAY, FEBRUARY 19 1910.
VOL. 90.
gite
Clearings at
1910.
Terms of Subscription-Payable in Advance
For One Year
$1.0 00
For Six Months
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European Subscription (including postage) 13 00
European Subscription six months (including postage)
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$11 50
Oubscription includes following supplementsBANK AND QUOTATION (monthly)
STATE AND CITY (seini.annually)
RAILWAY AND INDUSTRIAL,(quarterly) ELECTRIC RAILWAY (3 times yearly)
RAILWAY EARNINGS(monthly)
RANKEhS' CONVENTION (yearly)
Terms of Adverttsind-Per Inch Space
Transient matter per inch space(14 agate lines)
$4 20
Two Months
(8 times)
22 00
'103111)11,1,
:""IflS29
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Standing Business Cards
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Twelve Months(52 times)
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CHICAGO OFFICE-P. Bartlett,513 Monadnock Block.
LONDON OFFICE-Edwards & Smith,1 Drapers' Gardens, E. C.
WILLIAM B. DANA COMPANY,Publishers,
P.0. Box 95S. Front, Pine and Depeyster Sts.,
New York.
Ai
Published every Saturday morninz by WILLIAM B. DANA COMPANY
William B. Dana,President; Jacob Seibert Jr., Vice-Pres. and Sec.; Arnold
G. Dana,Treas. Addresses ot all,Office of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, dm, indicates that the total
bank clearings of all clearing houses of the United States for week ending
Feb. 19 have been $3,515,487,478 against $2,971,211,411. last week and
$2,895,321,418 the week last year.
Returns by Telegraph-Week end. Feb. 19
1910.
1909.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
$1,876,546,189
133,942,172
129,204,823
22,876,228
263,551,682
58,578,176
14,195,841
$1,406,186,753
129,971,323
102,368,457
23,009,091
222,005,780
52,169,935
13,002,31;
+33.4
+3.1
+26.2
-0.6
+18.7
+12.3
+9.2
Seven cities, 5 days
Other cities, 5 days
$2,498,895,111
436,094,718
$1,947,713,652
407,498,649
+28.3
+7.0
Total all cities, 5 days
All cities, 1 (lay
$2,934,989,829
580,497,649
$2,355,212,301
540,109,115
+24.6
+7.5
Total all cities for week
$3,515,487,478
$2,895,321,416
+21.4
The full details for the week coveredlby the above will be given next Saturday. We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day of
the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday
noon, Feb. 12, for four years.
Week ending February 12.
Clearings at
1910.
1909.
--
4
$
$'
1,833,887,960 1,468,344,740
New York
Philadelphia
119,848,598
99,647,358
38,373,099
Pittsburgh
31,582,628
22,084,816
27,576,807
Baltimore
Buffalo
8,821,219
8,130,537
Albany
4,841,139
4,448,391
Washington
7,224,505
5,132,428
Rochester
3,512,347
3,024,041
Scranton
2,294,330
1,857,370
Syracuse
1,968,472
1,669,572
Reading
1,122,291
1,167,736
Wilmington
1,380,624
1,031,501
Wilkes-Barre
1,362,158
1,166,615
Wheeling
1,362,100
1,240,296
Harrisburg
1,051,343
807,815
Trenton
1,314,296
1,254,782
York
651,432
569,175
764,090
Erie
524,905
Greensburg
478,806
349,949
454,245
Chester
348,874
Binghamton ... - _
475,400
462,800
322,417
Altoona
249,198
300,058
Franklin
305,743
Total Middle
Inc. or
Dec.
1908.
1907.
$
%
$
+24.9 1,092,577,834 1,750,303,472
+20.3
95,815,289 123,350,927
+21.5
33,500,107
49,761,508
+24.9
20,993,102
28,182,915
+8.5
7,044,261
7,609,422
-8.1
4,408,621
6,170,775
+40.8
5,125,211
5,907,396
+16.1
2,976,203
3,241,366
+23.5
1,839,968
1,918,337
+17.9
1,908,609
1,733,632
-3.9
1,105,119
1,258,179
+33.8
1,039,662
1,261,733
+16.8
883,017
888,207
+9.8
1,072,790
1,155,691
+30.1
977,071
932,471
+4.7
+14.5
591,021
+45.6
623,920
619,208
+36.9
618,531
510,754
+30.2
488,711
457,722
+2.7
396,900
676,400
+29.4
276,922
225,062
-1.9
374,970
2,058,994.988 1,655,794,018 +24.4 1,274,689,751 1,986,113,265
Boston
Providence
Hartford
New Haven
Springfield
Portland
Worcester
Fall River
New Bedford .. _ _
Lowell
Holyoke
163,855,312
8,280,300
3,761,552
2,442,399
2,100,000
1,731,893
2,155,203
1,119,593
984,346
519,434
520,759
144,345,181
7,496,800
3,005,530
2,089,615
1,650,955
1,301,057
1,650,486
1,345,192
928,9437
536,618
450,253
+13.5
+10.5
+25.2
+16.9
+27.2
+25.2
+30.6
-16.8
+6.0
-3.2
+15.2
127,850,373
6,633,100
3,017,638
2,151,936
1,533,268
1,614,747
1,253,355
996,128
773,349
527,439
420,559
173,998,867
8,182,500
3,597,708
2,377,430
1,782,401
1,799,504
1,654,399
1,332,077
671,471
516,936
500,111
D
187,470,791
164,890,654 +13.7
140,771,892
196,313,404
otal New Eng.
• This year's *impinge considerably increased by out-of-town clearings department
NO. 2330.
Week ending February 12.
Tin:Quick.
PUBLISHED WEEKLY. •
•
Electric Railway Section
State and City Section
Inc. or
Dec.
1909.
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis _ _
Columbus
Toledo
Peoria
Grand Rapids_ _ _
Dayton
Evansville
Kalamazoo
Springfield, Ill
Fort Wayne _ _ _
Akron
Lexington
Youngstown _ _
Rockford
Springfield, 0_ _
Decatur
Canton
Quincy
Bloomington_ _ _ _
South Bend
Mansfield
Jacksonville, Ill_
Jackson
Danville
Ann Arbor
Adrian
Lima
215,942,206
24,375,950
17,686,583
13,154,003
13,380,469
7,203;391
6,049,200
4,548,686
2,570,000
2,192,894
2,137,107
2,093,826
1.362,774
1,053,598
834,370
855,800
742.807
1,064,005
743,879
453,067
501,326
889,967
575,542
589,403
409,770
355,045
305,992
250,000
348,210
159,537
34,276
266,616
217,999,860
23,119,300
12,334,681
10,050,597
10,579,681
6,084,702
4,354,600
3,896,397
2,488,487
2,237,545
1,688,321
1,806,802
1,109,800
1,056,606
628,698
575,000
547,529
749,802
651,513
457,940
333,035
553,962
418,691
435,205
330,121
309,624
185,592
242,940
307,396
154,338
22,342
281,503
Tot. Mid.West.
323,130.299
San Francisco_ _ _
Los Angeles
Seattle
Portland
Salt Lake City..- _
Spokane
Tacoma
Oakland
Helena
Sacramento
San Diego
Stockton
Fresno
San Jose
North Yakima _
Billings
Pasadena
35,035,554
12,283,641
9,662,674
10,438,120
5,190,709
3,726,933
4,030,945
2,649,576
702,002
1.087,433
900,000
485,424
610,821
425,165
400,000
123,298
Total Pacific__
Kansas City
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
Davenport
Topeka
Cedar Rapids _
Pueblo
Colorado Springs
Fremont
Fargo
Sioux Falls
Duluth
Tot. oth.West _
St. Louis•
New Orleans_ _
Louisville
Houston
Galveston
Riclunond
Memphis
Fort Worth
Atlanta
Savannah
Nashville
Norfolk
Birmingham _ _
Augusta
Mobile
Knoxville
Jacksonville
_
Little Rock
Chattanooga
Charleston
Oklahoma
Macon
Beaumont
Columbus, Ga_ _ _
Austin
Vicksburg
Wimington, N.C.
Jackson
Meridian
Total Southern
Total all
87,752,295
1908.
1907.
S
226,192,732
26,183,350
16,172,389
12,774,820
12,080,103
7,569,531
[5,154,300
4,102,467
2,799,584
2,316,063
2,022,191
1,717,063
1,007,652
799,543
773,010
722,865
714,838
680,166
667,957
575,552
516,151
491,383
447,429
422,951
428,073
292,601
250,254
220,000
-0.9
+5.4
+43.4
+9.2
+26.5
+18.4
+38.9
+16.7
+3.3
-2.0
+26.6
+15.9
+22.8
-0.3
+32.7
+48.8
+35.6
+42.0
+14.2
-1.1
+50.5
+60.7
+37.5
+35.4
+24.1
+14.7
+64.9
+2.9
+13.3
+3.4
+53.4
-5.3
202,879,488
21,618,250
13,478,241
11,752,172
11,320,673
6,990,170
4,399,700
3,515,434
2,639,197
1,808,421
1,486.366
1,650,949
837,070
818,243
637,490
530,000
687,571
603,137
568,100
398,572
391,571
331,319
429,269
426,081
:343,214
311,855
294,708
225,000
237,934
121,939
21,000
255,000
306,992,610
-1.8
291,560,563
330,453,592
28,685,011
10,072,046
7,871,741
6,656,457
3,879,936
3,037,889
3,731,746
1,488,913
693,823
789,039
750,000
410,786
482,953
346,539
317,856
123,471
Not included
+22.1
+21.9
+24.0
+56.8
+33.8
+22.7
+8.0
+78.0
+1.2
+37.8
+20.0
+18.2
+26.5
+22.7
+00.0
-0.1
n total
31,841,021
9,372,988
6,522,727
5,301,947
3,760,590
2,534,575
3,225,175
1,529,729
554,960
978,217
825,000
383,096
51,424,977
14,057,398
8,787,259
6,251,029
5,950,720
2,403,481
4.026,434
4,021,852
732,165
432,000
450,000
69,337,206 +00.0
164,074
20,500
274,000
175,000
67,435,025
98,105,515
+15.2
+29.4
+49.9
+28.1
-2.9
+12.6
+19.6
+71.6
+57.9
+6.0
+27.4
-9.4
+52.0
+19.1
+0.7
-8.6
+43.4
+86.8
n total
31.725,612
17,231,044
10,184,914
7,808,375
6,491,205
4,600.000
2,314,739
2,137,357
1,305,703
952,139
865,595
1,030,399
719,245
487,663
483,017
188,788
456,503
385,000
31,301,248
17,878,712
9,705,012
6,976,595
6,966,587
5,580,234
2,844,042
2,326,902
1,231,734
1,1743,679
1,012.164
851,493
593,959
565,340
841,009
336,638
475,076
356,357
122,844,828
100,605,928 +22.1
88,367,348
91,019,778
68,846,264
18,630,858
16,267,817
13,877,770
6,796,000
7,827,951
6,756, 91
6,575.000
*12,086,108
5,007,698
3,999,804
3,134,089
1,146,740
2,084,175
1,463,475
1,418,442
3,375,455
1,729,157
1,800,000
1,766,000
2,351,706
1,085,000
664,576
360,000
1.738,1390
361,744
425,000
442,000
59,966,133 +14.8
15.718,766 +18.5
15,520,322 +48.1
14,457,032 -4.0
6,967,000 -2.5
6,444,562 +21.5
5,436,067 +24.3
6,225,234 +5.6
5,414,392 +123.2
3,514,882 +42.5
4,225.586 -5.3
2,432,627 +28.8
2,114,503 -45.8
1,918,797 +8.6
1,275,097 +14.8
1,383,636 +2.5
1,865,777 +27.4
1,622,089 +6.6
1,510,000 +19.2
1,373,562 +28.6
1,376.862 +70.8
776,634 +39.7
909,724 -27.0
350,000 +2.9
611,542 +184.4
468,868 -22.9
393,632 +8.0
439,000 +0.7
Not included In total
56,138,085
17,119,409
12,302,022
11,322,651
6,959,500
5,331,041
5,340,796
3,376,256
4,387,415
2,865,660
3,248,422
1,934,376
1,694,298
1,471,566
1,201,012
1,204,580
1,489,926
1,478,666
1,360,000
1,300,000
780,460
803,261
596,249
331,052
497,357
353,996
277,795
64,428,57S
20.061,922
14,961,438
14,026,213
7,218,500
6,021,755
5,664,034
4,874,302
5,360,192
4,462,949
3,761,892
2,357,437
2,150,000
1,972.454
1,065,368
1,576,480
1,542,688
1.468.065
1,380,443
1.292,279
925,290
725,000
550,000
275,000
191,018,210
164,712,376 +16.0
145,166,051
168,992,279
50,257,435
43,626,300
17,052,658
13,174,975
16,156,929
10,780,855
8,506,816
6,639,489
7,331,975
7,548.648
6,350,000
5,650,000
3,250,000
2,716,266
2,963,755
1,727,304
2,930,126
1,855,547
1,375,688
1,298,233
1,043,432
819,039
1,252,179
1,382,369
1,126,820
741,313
.638,022
535,630
626,646
622,142
358,835
392,432
773,512
540,386
850,000
455,000
,769,669 Not included
310,000
2,971,211.411 2,462,332,792 +20.7 2.013,797,601 2,870,997,833
Outside N.Y_ _ 1,197,323,451
993,988,052 +14.4
921,450,367 1,120,694,3(6
Note.-For Canadian clearings see -Commercial and Miscellaneous News.
466
THE CHRONICLE
[VOL. Lxxxx.
but it has long been a principle of law that no foreign
corporation can go into a State except with the consent of the State.
Mr. Spooner pointed out that some of the largest
of the corporations hail with delight the chalice to
organize under Federal authority. That is because
they think it is a port of safety. "They see a chance
to go into all the States whether the States want them
or not." Continuing, he said: "There are corporations which Congress can create. They are instrumentalities of commerce, but where do you find anything in the Constitution which gives Congress power
r
to create manufacturing corporations? When an
THE FINANCIAL SITUATION.
this
and
week,
prevailed
article is manufactured in a State and reL.More hopeful views have
have
an
shown
markets
security
mains in that State it is under the jurisdicas a consequence the
previous
tion
and the sovereignty of that State. It was
despondency
the
As
improving tendency.
the
intended by the framers of the Constitution to
so
political
influences,
never
by
occasioned
had been
supervision over all the business of the
give
Congress
of
a
things
view
brighter
take
to
disposition
present
may be ascribed to political sources. A belief is States. The integrity of this Government depends
growing that the program of legislation mapped out by upon the sovereignty of the States and of the National
President Taft will have to be greatly modified or at Government. The dividing line between these should
least be very much abbreviated before it can hope to be maintained."
This is a view which Republicans and Democrats
find acceptance at the hands of Congress, notwithmaking
is
accepted as sound and incontrovertible until a
alike
President
the
effort
constant
the
standing
action.
ago, and very naturally it is felt that with
time
to
short
them
spur
to
Congressmen
and
with Senators
wavering.
enforced by the Courts much of what
such
signs
of
principles
no
shows
himself
President
The
Mr.
is
Taft would be void. A somewhat
by
proposed
Republican
Club
the
of
dinner
Day
Lincoln
the
At
regarding the application of the
assuring
exview
he
more
night
Saturday
last
Waldorf-Astoria
at the
is
law
also
being taken for the time being.
Anti-Trust
the
all
out
carry
to
his
anew
determination
pressed
that an early decision in
thought•now
be
to
seems
has
It
Roosevelt
Mr.
of
name
the
which
policies with
which involves incase,
Co.
a
fall
American
let
Tobacco
the
did
he
though
linked,
inseparably
become
to, is not likely—
referred
as
inasmuch
of
statute
the
that,
terpretation
statement
the
in
comfort
crumb of
judgment in that
was
its
he
will
not
elected
announce
which
the
Court
that
on
platform
Republican
the
had not specifically declared in favor of Federal In- case until it also passes upon the Standard Oil case,
corporation, he 'did not feel justified in asking the and this latter has not yet been argued before the
Supreme Court. Hence it is reasoned that consideradoption of such an Act as a party matter."
enable delay must ensue before an authoritative conmost
which
from
however,
circumstance,
The
of the law comes from our highest tribunal.
apnot
struction
does
Congress
that
is
derived
couragement is
mood and temper such delay is regarded
present
the
mood.
In
Advices
quiescent
a
in
altogether
pear to be
hardly
is
in the meantime further trust prosewith
since
there
favor,
that
plain
it
make
from Washington
that
the
program
Anti-Trust law will be held in abeyunder
cutions
legislative
President's
in
the
feature
a
is not likely to meet with considerable opposition: ance.
The suggestion is also being ventured in certain
Accordingly, when the newspapers print headlines
saying "Taft Summons Senators and Congressmen," quarters that possibly the Government may not after
the matter is interpreted quite differently from what all come out altogether victorious in the Tobacco and
it was a short time since. Two weeks ago announce- Oil cases. It would occasion no surprise among the
ments of that nature were received with alarm as legal fraternity if at least in the Tobacco case the
indicating the possible early enactment of the radical Government should suffer defeat in some or all of its
laws desired by the President. Now such announce- contentions. On the whole, therefore, there have
ments, accompanied by the statement that Mr. Taft been, it will be seen, a number of circumstances tending
is showing impatience over indifference to his program, to create a more hopeful frame of mind. Obviously
are looked upon as freighted with favorable promise. some new move or unexpected announcement from
because suggesting a probability that the President Washington may at any moment change the whole
may be thwarted in his purpose. Much encourage- aspect of things again and revive the feeling of fear
ment is also derived from the masterly argument made and alarm which previously existed. For the present
by ex-Senator John C. Spooner Thursday night of it is satisfactory to know that substantial basis exists,
last week at the annual dinner of the American Paper as pointed out above, for a greater feeling of con& Pulp Association. The ex-Senator is conceded by fidence.
all to be one of the highest authorities in the country
In suggesting consideration of the question whether
regarding Constitutional law. Hence his characterization of the Federal Incorporation bill as unconstitu- abolition of the personal property tax as laid directly
tional, carries deservedly great weight. Mr. Spooner upon individuals in the present manner might not be
said he could not believe that Congress had the power advisable, Mayor Gaynor revives a thought that is old
under the Constitution to create manufacturing cor- in the minds of many men. At one time, not many
porations except in the District of Columbia and in years ago, in making some alteration of the law on
the Territories. To be sure, the power to regulate this subject, the Legislature inadvertently left out the
commerce among the States is lodged with Congress provision for enforcing any penalty, so that it was safe
• OUR RAILWAY EARNINGS ISSUE.
F We send to our subscribers to-day the February
number of our "Railway Earnings" Section. In this
publication we give the figures of earnings and expenses
for the latest month of every operating steam railroad
in the United States, big and little, which is required
to file monthly returns with the Inter-State Commerce
Commission at Washington—altogether over 800 roads
or systems, comprising an aggregate of more than
230,000 miles of line.
FEB. 19 1910.1
THE CHRONICLE
for persons who discovered the omission to pay no
attention to the customary notices of assessment.
Ordinarily, in cases where there is no specific repute
of wealth and no record exists as a guide, a notice on
the basis of $10,000 is sent out to addresses taken at
random from the voting lists or the directories. Some
men whose occupation is as humble as that of driving
delivery wagons and who are without property or
expectation of any receive such a notice, and in a
smaller number of inStances the guess is probably as
wide in the opposite direction.
In practice the person who really has or is willing
to make affidavit to having either no assessable property or less than the amount guessed responds to the
notice, while the one who confessedly has more accepts
the proffered escape and leaves the assessment to stand
confirmed. There are exceptions, of course, but the
temptation is strong, and it is aided by the justifiable
belief that the tax works unevenly and nobody pays
who can dodge. A custom is likely to be taken as
ethically admissible. The result is that this particular
tax falls chiefly upon property which cannot be kept
under cover.
In reply to the Mayor's question, the President of
the Tax Board believes the persons who pay most of
the real estate tax also pay a personal one, although
it is impossible to speak positively. To the other
question he replies that the personal tax has averaged
in the last three years 43 millions annually, and its
abolition would add 6 or 7 cents per $100 to the real
estate tax, now about $1 67 in this borough. Dealing with things as they are, the question is one "of
abandoning the small relic of the personal property
tax now left," and he favors doing that. Outside of
this city the etitire personal assessment in 1908 was
only 113 millions; in one city, with a real estate assessment of 29 millions, the entire personal assessment is
$175,000, and in many towns there is none at all.
This officer believes the tendency of the personal tax
is to drive away property and business, the presence
of which would enhance the value of real estate. He
deems it uneconomical, and it does not concur with
two principles of taxation: that accuracy and nonevasion are prime requisites and that tax on real estate
always diffuses itself. It is obvious that it would be
a sensible course to abolish the tax.
467
here) incorporated unkler the laws of Vermont as the
Stone Tracy Company, with a modest capital of
$20,000, while the rival store next door remained a
simple partnership. Now comes the tax clause of the
tariff law and declares that one store shall pay a tax
on its profits if it has any, and shall also report the
facts of its condition, to be a public record, in which
the adjoining store, not being subject to either tax or
inquisition, will naturally feel some interest. So
Stella Flint, through Maxwell Evarts, her counsel,
appeals for relief in the capacity of guardian for a
young Stone. This discrimination is unfair, she avers;
it is against the authority and dignity of the State of
Vermont; and the result of it will certainly be to force
the Stone Tracy Company into involuntary dissolution.
The "Chronicle" sought, last summer, to make every
reader understand and appreciate, not only the other
wrongs in this income tax,.but the fact that it makes
private business affairs matter of public record, exposing corporations to the interested curiosity of
business rivals who may or may not happen to be incorporated. It should be noted, as we have repeatedly
pointed out, that the language is mandatory; the information, whet.' filed, is to be a public record, and
therefore accessible to everybody, without inquiry
into circumstances or reasons, though the President
now lets it be known that unless Congress specifically
appropriates $50,000 for the purpose,be will be unable
to give effect to the publicity feature.
Of course,this Vermont case is strikingly peculiar—
that is all. The inequity in it is not greater because
the rival concerns, one attacked and the other exempt,
happen to be side by side instead of a thousand miles
apart, since in respect to trade alertness and competition mere geographical distance does not count very
heavily. But this is a concrete example which focuses
the mind directly upon the natural workings of the
discrimination, and the Justices of the Supreme Court
cannot fail to be individually impressed by it, whatever line of decision they feel impelled to take upon
the issue itself. As the date for filing reports approaches, the public impression of the unwisdom and
inequity of this tax—itself only a rather clumsy device
to relieve a political situation—has been growing
clearer and deeper.
Cotton manufacturers in dreat Britain this week
In some respects, the most interesting of the cases
upon which the Supreme Court is expected to pass determined to further extend the period of curtailment
next month, involving the validity of the Corporation ,of production. At a meeting of the American section
Tax, is the Flint case from Vermont, and the "Sun" of the Federation of Master Cotton Spinners, held at
of this city has taken pains to investigate it. More Manchester (England) on Tuesday, it was decided
than forty years ago the partnership firm of Tuxbury unanimously to continue short-time running until
& Stone had a general store in the pretty village of April 26, and it was reported that owners of 4,000,000
Windsor. Some fifteen years ago, for reasons not spindles outside of the Federation will follow a like
important here, this concern split in two, Dwight course. The expectation is that the short-time moveTuxbury & Sons and Stone, Tracy & Co., and thence- ment will result in defeating the efforts of those striving
forward there were two stores side by side. Naturally, to hold cotton at a high level of cost.
It would seem to be of special interest in this conthese two have carried about the same general lines of
goods to this day and have been in brisk competition, nection to draw attention to the unsatisfactory results
with each alert to the practices and trade of its next- obtained by British manufacturers using American
cotton in 1909. We have recently received a comdoor neighbor.
Thus far, the case merely exhibits a somewhat un- pilation covering returns from 100 companies in Oldusual closeness of rivalry, and doubtless the customers ham and elsewhere, and its purport is as follows:
of each have profited by the incentive to do the ut- Those companies with aggregate capital of £3,426,534
most for securing trade. But about ten years ago ($16,675,228) and running 8,395,630 spindles,lost,
Stone, Tracy & Co. (also for reasons not important net,£272,070 ($1,324,038),after allowing for interest
468
THE CHRONICLE
on loans and depreciation of plant. In 1908, on the
other hand,the same companies returned a profit of
£586,511 ($2,854,256), or 16% on the investment.
Notwithstanding the loss sustained in 1909, dividends
averaging TM% were declared, reserve funds being
drawn upon to the extent of £268,135 ($1,304,879)
for the purpose. It is worthy of note, moreover, in
passing, that out of the last 26 years (1884 to 1909
inclusive) only seven have proven unprofitable, but
none as much's() as 1909. On the continent of Europe
it is also to be noted that curtailment of production
is operative at many points. South Germany spinners
lately decided to continue short-time into the second
quarter of 1910, and in Austria curtailment to the
extent of 33%, instead of 16% as heretofore, is to be
maintained for six months. These being the conditions of-supply and demand, it is not expected that
further efforts to bring about a further appreciation
in the value of cotton can succeed.
[Vol— Lxxxx.
Merchandise imports for January on the other hand
exhibited a very important augmentation, standing
at $133,658,064, against $103,576,501 in the month
of 1909 and $84,997,514 in 1908. Furthermore,
the aggregate for the seven months ended January 31 1910 marked a new record for the period,
having reached $891,272,496, and contrasting with
only $697,499,433 for the like interval in the previous
fiscal year and $756,889,151 two years ago. The
net result of our January 1910 foreign trade is a smaller
export balance than in any year since 1893. In fact
it reached only $10,357,286, against $53,136,341 in
1909 and $121,117,204in 1908—the record forianuary.
For the seven months of 1909-10,also,the net export
balance is comparatively small,falling behind any year
from 1897-98 to 1908-09 inclusive. The balance, at
$192,968,329, compares with $334,251,343 for the
same period of 1908-09 and $432,202,400 in 1907-08,
the last named result standing next to the record of
$443,199,829 made in 1900-01.
Gold exports during the month were moderate,
reaching $6,163,132,and contrasting with $7,865,356
in January 1909. The seven months' outward movement was $75,209,616,against $35,562,837 in 1908-09.
Gold imports aggregated $2,131,357 in January 1910,
against $3,420,183 in 1909, with the seven months'
totals $26,082,731 and $27,288,580, respectively. On
balance, therefore, we exported,net,$49,126,885 in the
seven months ended January 31 1910, this contrasting
with $8,274,257 net exports in the like period of
1908-09 and $113,369,760 net imports in 1907-08.
The foreign export trade of the United States for
January 1910, as indicated by the official statement
issued this week, was of quite restricted proportions,
8 millions of dollars from
/
exhibiting a decrease of 125
the month of last year and falling behind the total for
the corresponding period of any year since 1905.
While in all the leading articles for which advance
figures are furnished decreases are shown, the most
notable loss occurred in cotton. Due to the high
price of that commodity, and the curtailment of production of goods now operative abroad, our shipments
of cotton for the month reached only 491,632 bales,
Progress has again been reported this week by our
the smallest January aggregate,with three exceptions,
years.
thirty
And
Department in arriving at tariff agreements
State
last
the
the
(1882, 1886 and 1893) in
countries. Japan, the Indian Empire,
large
a
other
with
follow
outward
not
did
falling off this year
port on the Red Sea) and Malta (the
British
(the
Aden
the
the
on
contrary
season;
movement earlier in the
secured by the diplomacy of Dispossession
British
for
1909
was
aggregate
Sept.-Dec. inclusive export
been
added
to the list of countries entitled
have
raeli)
years.
preceding
three
less than for either of the
the Payne Act of 1909. The
duties
under
minimum
;to
cotton
the
of
value
the
year
Even at the high price this
of
the
granting
rates
to imports from Japan
comlowest
which
$37,672,378,
only
sent out in January was
been
hailed
has
with
in that country,
in
deep
satisfaction
$77,034,124
and
1909
in
$52,517,999
pares with
customover-sea
the
best
United
her
of
as
one
States
is
decline
a
have
we
article,
therefore,
one
this
1908. In
fully
figures,
own
her
she
to
sent
us,
according
ers;
and
from
year
dollars
last
of
millions
of 15
393
and
bought
1908,
in
merchandise
worth
of
$60,000,000
millions from 1908.
Breadstuffs shared in the loss in trade this year to from us less than $40,000,000 worth, her exports of
the extent of 214 millions of dollars, the January 1910 raw silk to this country alone exceeding her total imtotal, in consequence of• diminished wheat shipments, ports of American goods. The agreement was fordropping to $10,488,735, the lowest January result mally announced throughout Japan on Wednesday,
since 1895. The outflow of meat and dairy products, and, according to a dispatch from Tokio, "has been
moreover, was only $10,361,663, or 3Y1 millions less received by the commercial interests,,of the Empire
than in January 1909,and, concurrently,a small de- with the liveliest satisfaction." One immediate recrease in cattle, sheep and hogsis to be noted. Further- sult has been to assuage the resentment felt against
more mineral oil shipments exhibit a drop in value of the action of the Committee on Immigration of our
millions of dollars from the total of a year ago. House of Representatives in voting unanimously to reCombining these various leading export items,we have port favorably the Hayes exclusion bill, which dian aggregate of only $66,512,067, a figure 22 millions rectly affects Japan; but this matter will come up for
lower than that for January 1909, nearly 6214 millions consideration later.
Neither Canada nor France has yet taken the steps
less than in 1908, and in fact the lowest aggregate for
to qualify for admission to the most,
necessary
the
1900.
In
since
year
the
of
the opening month
total of all other commodities exported in January favored, nation category. This week Finance Minthis year an increase of a little under 10 millions of ister Fielding officially announced that Canada
dollars is recorded. For the month of January 1910 will not be included with Great Britain when that
aggregate exports were $144,015,350, against $156,- country is placed on the preference list, but he
712,842 in 1909 and $206,114,718 in 1908, and for the was careful to express the hope that the negotiaseven months since July 1 1909 reached $1,084,240,- tions now under. way will end amicably, NO that
825; comparing with $1,031,750,776 for the same Canada may obtain our minimum rate:I. The
Washington authorities still preserve Arettaence on
period in 1908-09 and $1,189,090,551 in 1907-08.
PED. 191910.1
THE CHRONICLE
469
monetary tension during the last three months than
any other European country, and although nothing
serious has at any time resulted, the strain occasionally
excited mild concern. The Imperial Bank was obliged
to issue an inordinate amount of note circulation, and
other large institutions felt compelled to restrict their
loans to speculators in various commodities and securities. These measures have proved adequate, this
week's trouble being the first of any consequence, and
happily no further disturbances are expected. Meanwhile the banks have rehabilitated their resources.
Within the space of one week the Reichsbank has
gained no less than $14,500,000 cash simultaneously
with a curtailment of $18,500,000 in circulation, a decrease of $7,700,000 in discounts and loans amid an increase of fully $30,000,000 in deposits. The Bank rate
of 4% is retained and private discounts are not effected
under 33 3%,an advance of% of 1% over last week's
charge. Governmental needs have been and still are
an influence in the German money markets, although
The ceremonious opening of the Third Parliament of another large loan is not looked for until late in the
King Edward has been postponed until Monday next, spring or early in the summer.
when the Ministry may be able to adopt a definite
In foreign diplomatic circles significance is attached
course. This week's developments have been numerous, but not of conspicuous importance. The com- to this week's visit of Prince and Princess Henry of
pleted returns from the constituencies show the elec- Prussia to the King of England. Despite the retion to have resulted as follows: Liberals, 275; Con- peated assurances of Emperor William and his represervatives, 272; Irish Nationalists, 82; Laborites, 40; sentatives that the constant additions to the German
Non-Partisan (Speaker of the House), 1. This gives navy are for strictly pacific purposes, and demanded
the new Government a possible majority of 125, but, by the nation's growing trade with foreign countries
as was explained last week, there are splits among the and its own colonies.,a feeling of suspicion, even of open
Nationalists, the Labor Party is openly recalcitrant, distrust, prevails in Great Britain, and it is recipronot to say defiant,and Premier Asquith has a delicate cated among certain classes in the Fatherland. The
task in placating the extreme wings of the Liberal- two rulers have been scrupulously careful to show eviRadical combination. On the eve of Tuesday's brief dences of the utmost cordiality in their personal relaassembly of the House for the purpose of swearing in tions; hence, the present royal visit to Buckingham
members, &c., the following Cabinet appointments Palace is not without interest. So uncertain is the
were announced: Secretary for the Home Department, political situation in Britain that it is impossible to
Winston Spencer Churchill; President of the Board of foresee what is likely to happen after the King's
Trade, Sydney Buxton; Chancellor of the Duchy of speech is delivered on Monday next, but it may be
Lancaster, J. A. Pease; Postmaster-General, Herbert added that zealous advocates of international peace
Louis Samuel. The brevity of the list is suggestive have not despaired of overtures being resumed between
of the acute uncertainty that prevails among the Min- the German and British foreign offices concerning the
isterialists regarding the duration of their adminis- feasibility of arriving at an understanding on the buildtration. J. A. Pease, who was defeated at the general ing of armaments, an understanding that would look
election, will have to he elected from a Liberal con- to some slackening in a pace that threatens to involve
stituency on his elevation to the Cabinet. James both nations in grave financial problems. King EdWilliam Lowther was re-elected Speaker of the Lower ward, it need not be emphasized, is an ardent disciple
Chamber, and felicitous speeches were delivered by of peace, and consequently any friendly negotiations
the Prime Minister, by Mr. Balfour, and others, but his ministers may enter into with the representatives
no mention of the momentous issues impending was of his Imperial nephew are certain to receive his
made. Among those who took the oath of member- wholehearted approval.
ship was Joseph Chamberlain,now seventy-four years
of age, the originator of the tariff-reform movement
Cuban finances are improving, according to an ofon which the election has been so largely fought; he ficial statement issued this week from President
was very frail and had to be assisted to and from the Gomez. It is explained that the new Government
Chamber. Herbert John Gladstone has been raised which took over the administration of affairs when the
to the peerage prior to his departure for United United States withdrew in January 1909 found only
South Africa, of which he is to be the first Governor- $2,500,000 in the Treasury to meet obligations totaling
$12,000,000, whereas since then $6,000,000 of this
General.
debt has been paid off,and there is a balance on hand
Notable and welcome improvement in the banking equal to the sum originally received. The Budget for
position at Berlin was recorded on Thursday, after the new fiscal year estimates expenditures at $29,some uneasiness had been created by an advance (on 628,531, while receipts are calculated to be $5,159,148
Tuesday) in the private discount rate to 3% and the larger. The claim is made that, excluding the ex- announcement of seven failures on the Hamburg Pro- penses incidental to the establishment of new offices
duce Exchange. Germany has experienced more and the first installment on the $35,000,000 loan, the
this subject. No authoritative statement is forthcoming regarding the negotiations with France, concerning which there is widespread though not yet acute
uneasiness among the mercantile classes of both countries. Advices from private sources, however, are
encouraging; these state that substantial progress has
been achieved and that the outlook for a friendly settlement of points still in dispute is much brighter than
it was a month ago. A good deal, in fact almost
everything, depends upon the willingness of France to
stop levying upon iniports from the United States her
present maximum duties. One influential Parisian
paper, in urging the Government to make no fresh
concessions, shrewdly points out that "the political
situation in the United States, the agitation over the
high cost of living and the coming Cthigressional elections will prevent that country from risking a tariff
war with France." The best opinion here is that a
rupture will be averted.
470
THE CHRONICLE
present Budget is $700,000 below that in force during
the last year of President Palma's regime. It is to be
hoped that the ensuing year will bring developments
of a character to justify present sanguine expectations.
Foreign discount rates have not weakened this week,
despite the better bank returns issued on Thursday in
London, Paris and Berlin. The London quotation is
now 23/8@2Y
1%, the same as a week ago; the Bank
of England's reserves have increased 13i% (to 53%),
but Treasury borrowing and a resumption of gold exports have been taken into account by bankers. Paris
is proceeding very quietly to repair the damage done
by the recent floods; no huge loans have been found
necessary, nor is the strain upon the Bank of France
or the private institutions excessive, the discount rate
2%—occasionally a fraction less. At Berbeing only 23/
lin the rate has moved up to 33/%. Amsterdam reports 17
4%, a rate that is encouraging speculation in
American and rubber shares. Indeed, London and
Paris are also showing renewed interest in our securities,
this week's sales of bonds for European account having been quite a factor in the foreign exchange market.
The Bank of England was able to report a decided
strengthening in its principal accounts on Thursday
morning, but on that day it was called upon to ship
about $1,500,000 in bullion and sovereigns to South
America, although, of course, this loss will not figure
until next week's statement is issued. The return
flow of gold to Paris has also been resumed ($1,550,000
having been sent yesterday), as bills discounted before
the close of 1909 are now maturing. Fortunately there
has of late been no competition for the weekly consignment of new bars from South Africa, and these are consequently finding their way into London's vaults,
though not always into those of the central institution. According to our special cable from London,the
Bank of England gained £749,431 bullion during the
week and held £37,325,171 at the close of the week.
Our correspondent further advises us that the gain
was due largely to receipts from the interior of Great
Britain. The details of the movement into and out
of the Bank were as follows: Imports, £166,000 (of
which £5,000 from Australia, £19,000 from Egypt and
£142,000 bought in the open market); exports, £18,000
(wholly to South America), and receipts of £601,000
net from the interior of Great Britain.
[VOL. Lxxxx.
the market; the out-of-town inquiryforit isfair, but not
keen. The range for the best four to six months' single
names is now 43@4% and for less desirable names
5@53'%. Sixty to ninety days' endorsed bills receivable are quoted 4k@43'%.
Time money has been extremely quiet, owing to the
lack of demand, which, in turn, has been in part due
to the abundance of call funds at 2@3%, no loans
having been made this week above the latter figure.
The charge for all maturities is, generally speaking,
Yi of 1% below last week's level, the range now being
31
/
1@33/
2% for 60 days, 3M @3%% for 90 days and
3U@4% for four, five and six months. A few overthe-year transactions have been made at 4%%, although the difference in the ideas of bankers and borrowers regarding the prospective value of money
militates against business for so long a period. Call
money has again averaged about 29%, and the minimum of last week, 234%, was not repeated until the
close yesterday; indeed, quite a few loans were made on
Thursday and Friday at 3%, a fact that is not surprising in view of the recovery in stock speculation and the
absence of brokers from the time-money division. The
range on Monday and Tuesday was from 2%% to 3%,
on Wednesday and Thursday from 23/2% to 3% and
yesterday from 234% to 3%.
A pronounced change has come over the whole
foreign exchange situation. Last week demand sterling sold below 4 86; this week business has been done
at 4 863'. Furthermore, the intense dulness of the
previous three weeks has been followed by active
trading, part of which has represented speculation in
futures. Already the higher rates have started an
outflow of gold from New York to Argentina, a movement that had been in abeyance since January. On
Thursday three shipments, aggregating $1,250,000,
were arranged, the metal to go forward to-day, and
yesterday another engagement, of $250,000, was reported, making a total of $1,500,000 for the week. A
minor incident was the simultaneous announcement
of the importation of $50,000 gold from Ecuador.
That New York will be called upon to remit additional
amounts of gold coin to South America is regarded
as quite probable, inasmuch as grain shipments from
that continent to Europe are going forward in volume
and the state of the foreign exchanges permits London
to draw upon its New York agents for the gold necessary to effect a settlement. This week, however, the
The apathetic demand for collateral loans at this Bank of England has also been obliged to send amounts
centre has at last, and very tardily, brought about a of gold direct to Argentina.
reduction in commercial paper rates. Up to this week
The sharp recovery in foreign exchange rates, inthe minimum quotation for even the best grade of
single names had been 432%, but during the last few stead of taking the market by surprise, had been looked
days transactions have been effected with local in- for several weeks ago. The official returns of our
stitutions at 43'1% and in a few special cases at 4% foreign commerce during January, published on
for four months' maturities. But one word of ex- Wednesday, explain the scarcity of commercial remitplanation is due. The weeding out of second-rate tance that has been a conspicuous feature for two or
collateral that was so thoroughly prosecuted by banks three months, notwithstanding the recent weakness in
and trust companies earlier in the month has been quotations. The excess of merchandise exports over
followed by stricter scrutiny of the mercantile paper imports last month was only $10,357,286, contrasted
offered then, and only bills of exceptional attractive- with fully $53,000,000 in 1909 and $121,000,000 in
ness are in favor. These are preferred, even at lower 1908; this year's balance, as a matter of fact, is the
rates, to names of only ordinarily good repute, not- smallest recorded since 1893. The showing for the
withstanding that the latter are available at M of 1% seven elapsed, months of the current fiscal year is
higher return. The supply of 43% paper is not super- scarcely more favorable. Exports have outrun im0 quality on ports by only $192,968,329, compared with more than
abundant, but there is plenty of the 4%7
FEB. 19 1910.]
THE CHRONICLE
$334,000,000 last year and $432,000,000 in 1908; not
since 1896 has so poor an exhibit been made. It is
not at all extraordinary, therefore, that we are
exporting gold. For the seven months ended January
the gold outflow totaled $75,209,616, a figure not
equaled in recent years, while the balance over imports
amounted to $49,126,885, also the highest figure in
years. February, as has already been pointed out,
has brought another gold-export movement, and
unless exchange rates decline sharply—an unlikely
development—the outflow will probably continue.
New York bankers are engaging exchange to be sent
to Europe to liquidate the short-term notes and bonds
that mature in March; during 1910 an aggregate of
half a billion dollars notes and bonds has to be met
and a considerable percentage, especially of the notes
put out in 1906-07, is held abroad. It is gratifying to
note, however, that European investors are showing
continued interest in our securities, the absorption of
bonds referred to in previous weeks having continued
on a somewhat larger scale this week.
Compared with Friday of last week, sterling exchange on Monday—Saturday was a holiday—was
about 5 points higher, on the.basis of 4 8390@484 for
60 days, 4 8605@4 8610 for demand and 4 8625@
4 8635 for cable transfers. On Tuesday there was a
general advance of 10 points. The upward movement
was even more pronounced on Wednesday,. when
business was done in sight drafts at 4 86M, although
at the close the range was somewhat easier, the final
rate being 4 8430@4 8440 for 60 days, 4 8635@4 8645
for demand and 4 8660@4 8670 for cable transfers.
This level was maintained on Thursday. On Friday
demand closed at 4 8640@,4 8645 and cable transfers
at 4 8660@4 8670.
The following shows the daily posted rates for sterling
exchange by some of the leading drawers.
Fri., Mon., Tues., Wed., Thurs., Fri.,
Feb. 11. Feb. 14. Feb. 15. Feb. 10. Feb. 17. Feb. 18.
Brown
560 days 4 843.
Brothers & Co
1Sight_ 4 87
Kidder,
560 days 4 843.
',Peabody & Co
1S1ght__ 4 87
Bank British
60 days 4 843.5
*North America ____ISight__ 4 875.5
Bank of
560 days 4 8434
*Montreal
Sight - 4 8734
Canadian Bank
i60 days 4 84%
of Commerce
Sight__ 4 87
Heldelbach,
60 days 4 8434
Ickelhelmer & Co ISIght.._ 4 87
Lazard
• 560 days 4 8434
;"Freres
1Sight.... 4 8734
Merchants' Bank
560 days 4 8434
of Canada
ISIght__ 4 8734
84%
87
845
87
843.5
8734
8434
8734
84%
87
8455
87
843.5
8734
8434
8734
84%
87
84%
87
843.5
8734
8434
8734
84%
87
8434
87
8434
8734
8434
8734
85
87%
85
87
843.5
8734
85
88
84%
87%•
85
8755
85
8734
85
8755
85
87%
85
87
85
8755
85
88
8434
8734
85
8734
85
8755
85
873.5
85
87%
85
87
85
8734
85
88
8434
8755
85
8734
85
8734
85
8734
The market closed on Friday at 4 8440@4 8450 for
60 days, 4 8640@4 8645 for demand and at 4 8660@
4 8670 for cables. Commercial on banks was quoted at
4 83%@)4 843 and documents for payment at 4 83%
@,4 843.'. Cotton for payment ranged from 4 831
4 to
4 8334 and grain for payment from 4 84 to 4 8431.
The following gives the week's movement of money
to and from the interior by the New York banks.
Week ending Feb. 18 1910.
Currency
Gold
Total gold and legal tenders
Received by
Shipped by
N. 1. Banks. N. Y. Banks.
Net Interior
Movement.
$9,347,000
1,347,000
$4,746,000 Gain $4,601,000
1,110,000 Gain
231,000
$10.694.000
$5,862,000 Gain $4,832,000
With the Sub-Treasury operations and gold exports,
the result is as follows.
Week ending Feb. 18 1910.
Into •
Banks.
Banks' Interior movement, an above.
Sub-Treas. oper. and gold exports_ _
$10,694,000
33,600,000
$5,862,000 Gain $4,832,000
33,200,000 Gain
400,000
344,294,000
$39,082,000 Gain $5,232,000
To at gold and legal tenders
Out o
Banks.
Net Change in
Bank Holdings.
471
The following table indicates the amount of bullion
in the principal European banks.
February 17 1910.
February 18 1909.
Banks of
Gold.
England.. 37,325,171
France _ 139,191,120
Germany.. 41,434,050
Russia _ _ 141,541,000
Aus.-Hun 56,561,000
Spain _ _ 16,143,000
Italy
38,681,000
Netherl'ds 10,084,000
Nat.Belg.
4,220,667
Sweden __ 4,470,000
Switzerl'd. 5,050,000
Norway _ 1,552,000
Silver.
Total.
Gold.
Silver.
Total.
z
37,325,171 37,005,161
34,829,800 174,020,920145,812,373
14,081,750 55,515,800 42,815,200
7,642,000 149,183,000121,977,000
12,975,000 69,536,000 51,110,000
30,700,000 46,843,000 15,848,000
4,012,000 42,693,000 37,900,000
2,987,800 13,071,800 9,578,000
2,110,333 6,331,000 4,167,333
4,470,000 4,342,800
5,050,000 4,680,300
1,552,000 1,550,000
37,005,161
35,457,314 181,269,687
12,886,150 55,701,350
7,299,000 129,276,000
12,791,000 63,901,000
32,308,000 48,156,000
4,634,000 42,534,000
4,045,500 13,623,500
2,083,667 6,251,000
4,342,800
4,680,300
1,550,000
Total week 496,253,008 109,338,683405,591,691476,786,167 111,504,631 588,290,798
Prey. week 493,759,077 107,335,153601,094,230473,790,584 110,589,214 584,379,798
WHY NOT CHANGE THE LAW?
Does the enactment of a statute establish a rule of
right and wrong which places a moral inhibition upon
the modification of the statute? Does the progressive
extension of the application of a statute by judicial
interpretation establish such a rule with a like result?
An affirmative answer to either of these questions
would obviously be absurd; yet, if he was correctly
reported in the daily press, such an answer to both of
them would be the necessary and logical consequence
of the position taken by President Taft in his address
in this city last Saturday. For if there is no such rule,
why should the Chief Executive hurl at industry the
command that it must modify its methods rather than
recommend to the Legislature, in view of the necessities of industry, that the law should be changed. Confessedly there is nothing in itself evil in the combination
of two producers selling in States other than those in
which they produce. Whatever evil pertains to such
a combination was made by the statute; cannot the
statute-making authority withdraw the prohibition
which it has set up? Yet President Taft says:
. . . . "If the enforcement of the law is not
consistent with the present method of carrying on
business, then it does not speak well for the present
methods of conducting business, and they must be
changed to conform to the law."
Undoubtedly the idea is popular. But is it sound?
It is "so much the worse for business," in the common
phrase, but how much the worse for the law? There
is something strange in the idea that a statute speaks
with the authority of conceded morality as well as with
that of the State. Of course, no one pretends that
the laws of every particular period contain a perfect
code of political or industrial morality, for such a code
must be stable, and that which is law to-day is not
always law to-morrow. Nor is the position of the individual legislator, the standing accorded him on account of his selection for legislative office, or that on
which such selections are usually based, such as to
warrant the conclusion that the authority of a statute
springs from the collected and combined authorities
of those by whom it is enacted. Plainly, the written
law has a popular authority not the outgrowth of its
stability or its origin.
Yet every one recognizes that there have been
blundering laws. Organized labor still waxes indignant over the restrictions with which it was surrounded at the beginning of the last century and for
several decades thereafter. The futility of the laws
concerning rates of wages and limiting the right of
laboring men to remove from one field of labor to
another which followed the Black Death, is still held
to prove that there are industrial limits upon legis-
472
THE CHRONICLE
lative power. The whole of the United States admits
that American law sanctioned human slavery long
after that institution had ceased to be more than a
clog to the industry of the South, and many now believe that the systematic violation of fugitive slave
laws should be recorded in family annals as evidence of
especial nobility of character. Indeed, no one can
run over his individual list of heroes without noting
with surprise how many of their careers began in lawbreaking. It ought, then, to be possible to look at
an existing law without supposing it necessarily to be
right and wise, and, while recognizing that it should
be obeyed as long as it remains upon the statute book,
to consider the expediency of its repeal without any
feeling of sacrilege.
If the law of which President Taft spoke can be
examined with this degree of freedom, it at once appears to be violative of certain fundamental principles
that are requisites of good legislation. History records
no instance of good results from legislative efforts to
bind industry. Industrial legislation has proved beneficial when it has recognized industrial tendencies, has
accepted them as normal and beneficial, and has been
framed so as to give them the freest expression. The
Anti-Trust Law was an avowed and radical effort to
thwart a strong industrial tendency that was then in
plain operation; it was an attempt to dam the stream
without providing any outlet; and it has operated
as such laws usually operate. That is to say, it has
been ignored here, evaded there, and where most
effective has but enhanced the burdens of industry or
slightly retarded its efficiency and progress.
It has somewhat affected the form of industrial
organization, but has had little effect upon its substance.
At every step the impossibility of its complete enforcement, as well as the destructive consequences of a
comprehensive and continued effort in that direction,
have been recognized under each successive administration. From President Harrison, under whom it
was enacted, to President Taft, under whose persuasive
influence it might be repealed, no Executive has been
willing to expose his countrymen to the perils of its
full enforcement. Never in the two decades has a
victory for the Government been won in the courts
in the progress of litigation under the statute that
some high officer of the Federal Government has not
been authorized to proclaim that the danger was not
as imminent as it seemed, for the reason that the law
would not be "foolishly" enforced, that the authorities
would not "run amuck." But yet the peril hangs
over the nation's industry and business must continue
ever to glance backward as it progresses lest it be overtaken unawares, lest the Executive finally shall make
full use of the dormant powers for destruction which
this law has set up. It is not necessary to admit, nor
is it admitted, that the bulk or any considerable proportion of the business of the country is conducted in
violation of this statute. Possibly there are undetected violations, possibly some are violating it to-day,
as others have in the past, while believing themselves
innocent of technical, as they know themselves innocent of moral or intentional, wrongdoing. If so, it is
true that an attack upon these could not Put affect
others who are not themselves in any danger of direct
attack. But what is much more serious is that, after
being in existence for twenty years, no one yet knows
just what this law forbids or to what and to whom it
[VoL. Lxxx.x.
applies. The limits and boundaries of inter-State
commerce are yet undefined; that which constitutes
an unlawful restraint of trade is not wholly known;
no one yet knows just when a business which is not
exclusive reaches the dimensions of a statutory
"monopoly." If President Taft had suggested that
when business cannot conform to the law, the law
should be changed, his view would have had less temporary popularity but a more helpful relation to present conditions.
IF THE TOBACCO COMPANY WINS.
In recent consideration of the trust problem, both
by the press and in Washington, speculation about
the immediate future has been almost entirely confined
to one term of the alternative only. It has been
assumed upon all sides that the Government would
win in the case against the American Tobacco Co.
and in the case against the Standard Oil Co. No one
has stopped seriously to consider what would happen if
the contrary should be the case. Such one-sided foresight; has its disadvantages and the other term of the
alternative is full of interest and importance.
Let us suppose that the case of the American
Tobacco Co. should be decided against the Government. It is not necessary to go so far as to assume
that the Supreme Court will decide that case fully in
favor,of the defendant. Even the latter assumption
would not be a violent one, for in making such a
decision the Court would only be following its own
decision in the case of Knight against the American
Sugar Refining Co. It is the custom in Washington to
think that because the Administrative branch of the
Government holds advanced views about the Sherman
Anti-Trust Law and considers the Knight case out
of date, the Supreme Court must follow suit. But
that would be rather unusual for the Supreme Court,
for it would involve an admission that its decision in
that case was not a considered one and not made with
reasonable foresight upon the subject of industrial
combinations.
Yet, for the purposes of this review, we may concede
that the law has developed since the Knight case
and that the Court will, therefore, point out some
respects in which the Tobacco Trust is wicked and
enjoin it from pursuing some courses of action in the
future. It may, therefore, be that the defendant
will not 'win in a technical sense. But we believe it to
be practically certain that the Government will not
win an entire or a substantial victory. Every antitrust decision of the Supreme Court so far has carried
within its limits the germ for a further development
of industrial combinations. Each decision has been
followed rather by the relentless course of industrial
progress than by any success in the Partingtonian
attempt to sweep back the Atlantic with a broom.
The business of growirig big and strong and able to
operate economically has gone on in spite of Mrs.
Partington.
Now it requires no violence to suppose that the
currently expected decision will also contain or
supply instructions for going on in business. If it
does not provide instructions by which the average
law-abiding business corporation can distinguish itself
from the alleged trusts and criminals, that decision
will carry with it something which can only be described
as another "black Friday." For ourselves, we believe
FEB. 19 1910.]
THE CHRONICLE
that a decision will come down in the Tobacco Co. case
which will leave prosperity as possible, and therefore
will not be regarded by the Administration at Washington or by Congress as a complete or satisfactory victory
for the anti-trust agitators. Now if this decision
comes down while Congress is still in session,or, at the
very least, if the Tobacco Co. finds its means of escape
from the decision before the adjournment, it is likely
that Congress and the President will endeavor to do
something that will look like an attempt to redeem
platform pledges. This appears particularly likely in
view of Mr. Taft's declaration in his speech last Saturday night that "there was no promise on the part of
the Republican platform to change the anti-trust law
except to strengthen it."
The statute providing for Federal corporations,
when looked at in the light here suggested, becomes
of vastly greater importance than its sponsors now
admit. The public have been carefully led to believe
through the Associated Press that this statute was not
to be pushed forward "under present conditions." The
careless have translated the quoted phrase by assuming
that the bill was not to be pressed 'at this session
of Congress. The more careful should consider it in
the light of the foregoing inquiries and reflect. If the
President should decide and should represent to Congress that further anti-trust legislation was made
necessary by the decision in one or both of the big
cases, it is not reasonable to believe that he could
obtain the support of business interests or of anybody
who really understands prosperity in passing another
statute containing fulminations and penalties against
trusts as such. On the other hand, the agitators
against the big corporations are not likely to accept
anything so colorless and sound as Attorney-General
Wickersham has once or twice tentatively offered to it.
The politicians' course under these circumstances
would seem to be indicated by the statute providing
for Federal charters. The bill has been put out in two
drafts and each of these has been submitted for the
purpose of eliciting discussion and reducing the points
of difference about the statute to the simplest possible
form. If now, when these points of difference are
more or less removed or made clear, the situation
which we have prophesied above shall arrive, is it
not likely that the Federal charter statute will be
turned into one compulsory upon corporations of
magnitude engaged in inter-State commerce.
No greater danger to our Federal system can be
imagined than a contingency of that kind, and there is
nothing which might be more wisely opposed at the
present time. If we limit the Federal control to the
corporations of magnitude, we shall conversely give
to the crpotations of magnitude a peculiar interest
both in the control of the Federal Government according to their best abilities and in having the Federal
Gcvernment control and abolish the States. The
opportunity to put the motive power of those who
hate the so-called trusts into such a position that it
will drive forward a scheme for enormously increasing
the proportionate power of the Federal Government is
as obvious as it is dangerous. We shall be likely to
see the octopus bitted, ringed, and driven as the
beast cf burden which does the work of the Federal
Government.
No one can under-estimate the danger of such a
program as this, and it is all the more insidious because
473
up to this time, while logical and necessary, it has not
received public consideration. The scheme indicated
is one peculiarly fit to be sprung upon the public, as
was the corporation tax, under conditions which would
make it the best available political compromise and
which would lead to its enactment,as in the case of the
corporation tax, before any one seriously knew what it
meant or understood the grave causes for fear contained
within it. This is no chimera. Any result of the
cases in the Supreme Court which makes business impossible is unthinkable. Any result which makes
business possible is likely to lead to further Federal
aggression,and the lines which we have indicated may
prove to be the lines of least resistance.
ANOTHER "EASTERN PROBLEM."
The relations between the various Powers i n what
Europe calls the "Near East" have for many years
been such that diplomatic friction was perennial and
"war rumors" unpleasantly frequent. The various
readjustments of affairs since the Turkish revolution
and the deposition of the Sultan removed a good many
of these irritating controversies. One seems, however,
to have remained, and the controversy over Crete has
lately been revived in such shape as to lead even the
cautious London "Economist" to remark that "unless
Hellenic and Turkish Chauvinism is speedily cooled
by the Powers or otherwise, the Near East may be
plunged into war." For this somewhat startling prediction, the grounds assigned are that Greece has summoned a national assembly to revise its constitution;
that this assembly may have Cretan affairs in view
and might invite Cretan delegates to participate in its
deliberations; that Turkey has formally protested
against the latter expedient, and that the young
Greeks and the young Turks are equally excited over
the situation.
We have not been inclined to take the situation
seriously. Dispatches from Constantinople have lately
intimated that the long-standing dispute between
Greece and Turkey over the sovereignty of Crete may
be adjusted through the neutral Powers by a settlement on a purchase basis. It has been intimated that
if Greece were to offer a satisfactory indemnity for
acquisition of the island, the Turkish Government, in
its present political and financial situation, would
assent. We do not know what basis of fact these dispatches may have in the actual diplomatic developments of the day, but the suggestion is plausible, and
if accepted would effect a further advance toward
settlement of a long-sta,nding irritation in continental
politics.
Crete as an issue in European affairs came chiefly
before the attention of other nationalities at the time
of the Greco-Turkish war of 1897, a contest primarily
provoked through a Cretan revolt initiated with the
active co-operation of the Greek armament and people.
As a matter of fact, however, revolts by the Cretans
against Turkish domination are a matter of centuries.
Captured in 1669 by Turkey, the island rose against
the oppressive satraps who were assigned to govern it
in 1821, in 1866 and in 1878, not to mention numerous
smaller uprisings in the interval between these dates.
In 1897, through one of those popular demonstrations
which at times becomes irresistible in the affairs of
governments, the revolt in Crete led to the overwhelm-
474
.
THE CHRONICLE
ing demand by the Greek peoplefor the extending of
aid and protection by the Government of Greece.
The Greek fleet set sail for Crete; the Turkish Government declared war, and the result was what is often
witnessed at a conjuncture of the sort. Popular enthusiasm on the part of Greece had not been equaled
by Government preparations for any such emergency.
The Turkish troops routed the Greek army in Thesally,
advanced to the southward, and after prolonged and
somewhat humiliating negotiations in behalf. of
Greece on the part of friendly Powers, the struggle
ended in the payment of a heavy cash indemnity by
Greece,the surrender of part of its northern territory
and the outright abandonment of Crete.
Fortunately for the good name of international
diplomacy, the neutral Powers did not leave the Cretan
situation where it had been before. Despite a not
wholly creditable exhibition of intrigue and bickering
between the Powers whose fleets were represented at
the ports of Crete, it was recognized that the demands
of the Cretans themselves had a right to a hearing, no
matter what had happened on the Greek frontier.
As a quid pro quo for assenting to the harsh terms imposed by Turkey on the Government at Athens, the
Powers required that the Sultan, while retaining a
nominal suzerainty over Crete, should commit the general administration of its affairs to a protectorate of
the three great Powers—England, France and Russia
—and more particularly to the hands of a high Commissioner.
•
This Commissioner, named in 1898, was the Prince of
Greece—a result which could not be wholly palatable
to the Yildiz Kiosk. Under the late adroit and crafty
Sultan, trouble began at once in Cretan affairs. In
1904 the Prince of Greece appealed urgently to the
Powers on the ground that he could not retain his post
while Turkey still reserved the official power of
meddling. In 1907, therefore—once more under the
auspices of the neutral Powers—the privileges of selfgovernment granted in 1898 were considerably extended, legislative rights being granted to a Cretan
Assembly of 64 deputies elected bi-annually the
executive power being reposed in a high Cominissioner
and four Councillors.
This was,perhaps,as far as the arrangement of affairs
could well have gone without absolutely removing
Crete from even nominal Turkish domination. When,
at the close of 1908, the Sultan of Turkey was deposed
and self-government suddenly established at Constantinople, it was but natural that the Cretans should have
seized the opportunity again to grasp at actual independence. During the trying period when Austria
had appropriated the minor Balkan provinces held
under Turkish suzerainty, and when Bulgaria had cut
loose from all control by the Turkish Government,
Crete also appeared on the scene, with the very plain
intimation that the Government of Greece was once
more behind the people's demands for absolute independence. It will be recalled that for a time an actual
collision between Greece and Turkey was regarded as
a possible outcome. True to their policy of averting
outright appeal to international conflict, the Powers
persuaded Greece to recede from its position. The
similar threatening conflict with Austria and Bulgaria
was by skilful negotiations made unnecessary; the
plan for a handsome indemnity payment to Turkey
in behalf of the Balkan provinces was proposed, and,
[VOL. Lxxxx.
somewhat to the surprise of other nationalities, was
accepted by the Turks.
Supposing, as is by no means improbable, that a
similar proposition is now under consideration in the
case of Crete, the question will be interesting whether
Turkey would be prepared to yield. The attitude of
its Government and people in the Balkan controversy
suggests an affirmative answer. The course of events
at that time and since has plainly indicated, first,
that Turkey recognizes its own need of ready money,
and, second, that it entertains no such ardent territorial ambitions as had previously been ascribed to it.
In the case of Crete, we have a dependency regarding
which the Turkish ownership is already of a most
flimsy conceivable character. The Constantinople
Government, indeed, has gone so far as officially to
renounce the revenues and property of the island as a
partial collateral for the Turkish public debt. As for
the possible sentimental aspect of the matter, it remains to say that the Cretan population numbers some
270,000 Christians and barely 30,000 Moslems. If
the proposed adjustment of the matter turns out to
have been correctly reported, a highly interesting
further step will have been taken in the solution of the
Eastern problem, which for so many centuries, and in
so many constantly varying aspects, has troubled
the mind of international diplomacy.
RAILROAD GROSS AND NET EARNINGS FOR
DECEMBER.
We present two compilations of railroad earnings
to-day and both possess unusual features of interest.
In the present article we deal with the completed gross
and net results for December. In the article which
follows we furnish a summary of the gross earnings for
the month of January in the case of the roads which
make it a practice to publish early preliminary estimates of their traffic receipts. The reason why
extra interest attaches to the exhibits for both months
is that unfavorable conditions prevailed in the one
month as in the other, reducing the traffic and revenues
of the roads, and the figures we give afford a measure
of the loss sustained from that cause.
As far as the comparisons for the month of December
are concerned, they show at a glance that some adverse
factors or influences must have been at work. Our
compilations for this month are exceptionally comprehensive, being based, as usual, on the returns filed
with the Inter-State Commerce Commission at Washington. As has been so often 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 InterState Commerce Commission. The returns when filed
are open to public inspection and we have transcripts
of them made, as soon as they are placed upon the
public records, 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 special supplement called our "Railway Earnings
Section." One of the monthly numbers of the "Railway Earnings Section" accompanies to-day's issues
of the "Chronicle," and in it, the reader will find the
December figures in detail for every railroad which
had rendered its return for that month up to yesterday
morning. The summaries we present in this article
FEE. 19 1910.]
THE CHRONICLE
475
are the aggregates derived from the statements of these The Union Pacific, with $419,492 improvement in
gross is obliged to report $559,523 shrinkage in net
separate roads.
-Increase or Decreaseand the Southern Pacific, though having no less than
December (764 roads)1909.
Amount.
1908.
%
Miles of road
229,369
3,703 1.58 $810,636 gain in gross, adds only $49,770 to net.
225,666 Inc.
Gross earnings
$217,724,459 $203,799,142 Inc. $13,925,317 6.83
Operating expenses
150,709,694
135,481,754 Inc. 15,227,940 11.24 And these illustrations might be greatly extended.
The roads and systems east of the Mississippi quite
Net earnings
1.91
$67.014,765 $68,317,388 Dec. $1,302,623
On their face, as already stated, the figures reveal generally give a very good account of themselves, the
the presence of adverse circumstances and conditions. same as in other recent months. The Pennsylvania,
The aggregate of the gross earnings shows improvement on the lines directly operated East and West of Pittsover the corresponding month of the previous year, but burgh and Erie, has $2,970,398 increase in gross and
the gain is relatively small, amounting to $13,925,317 $1,280,079 increase in net, and the New York Central
or only 6.83%. In the month preceding, November, has $723,211 gain in gross and $474,387 gain in net,
the increase reached no less than $34,299,610, or while for the New York Central System the result is
16.51%. But the most striking change is in the net $2,457,682 improvement in gross and $1,181,165 in
earnings. For November the net had improved net. The Baltimore & Ohio is an exception among
$18,749,484, or 25.59%; for December, on the other the great East and West trunk lines, a large augmenhand, there is actually a loss, though the falling off is tation in expenses being a feature in its case,the same
not very large, being $1,302,623, or 1.91%. The poor as with Western roads. Its gross was added to in
outcome may be ascribed in the main to two dominant amount of $824,546, while its net was reduced by
adverse factors-the weather and labor troubles on $110,900. In the following we show all the important
changes for the separate roads, whether increases or
some of the Western trans-continental lines.
• Meteorological conditions appear to have been decreases, both in the case of the gross and in the net:
severe in the whole of the territory between the PRINCIPAL CHANGES IN GROSS EARNINGS IN DECEMBER.
Increases.
Increases.
142,970,398 Northern Central
$178,741
Mississippi River and the Pacific Coast. There were Pennsylvania
824,548 Seaboard Air Line
Baltimore & Ohio
171,527
810,636 Buffalo Roch & Pittsb_ _
Pacific
135,711
heavy snow-falls, and temperatures also were in many Southern
a723,211 Duluth Missabe 44 North
128.749
N Y Cent & Hudson Riv
594,532
•Missouri
Pacific
N
Y
New
123,439
Haven
&
Hartf
sections exceptionally low. The labor trouble was Erie
122,879
' 567,609 Wheeling & Lake Erie_ _
121,622
505.835 Spokane Porti'd & Seatt_
Louisville & Nashville
the strike of the switchmen on the trans-continental Pittsburgh
113,445
454,737 St Louis & San Francisco
& Lake Erie_
112.890
448.161 Cin New On & Texas Pao
Lake Shore & Mich South
lines running from St. Paul and Duluth to the Pacific Union Pacific
111,223
419,492 Central of New Jersey_ _ _
108,116
417,407 Hocking Valley
Lehigh Valley
106,119
409,580 Chicago & North Western
Coast. This strike was precipitated on the evening Norfolk & Western
357,743
Atlantic Coast Line
Representing 37 roads
Railway
311,956
of Nov. 30 and 'during the early days ox December Southern
Chesapeake & Ohio
in our compilation_ _$13.753,447
249,855
Decreases.
Michigan
Central
245,701
proved exceedingly disturbing, not merely in inter- Boston & Maine
$1,250,694
247,230 Northern Pacific
Philadelphia
&
Chicago
Milw
&
St
Paul
588,744
Reading_
232,511
rupting normal conditions in the operation of the roads Elgin Joliet & Eastern... 218.267 Rock Island
355,339
Delaware Lack & West
214,603 Great Northern
315,748
but in putting a temporary embargo on some of the Atchison Topeka & S Fe 210,789 Chicago Burl & Quincy
180,840
Wabash
206,574 Yazoo & Mississippi Vali_
106,402
ordinary bugmess activities ox the day. One of tne Pere Marquette
198,504
Delaware & Hudson_ _ _ _
193,780
Representing 6 roads in
our compilation
$2,797,767
results was the shutting-down of the flour mills in Cleve Cin Chic & St Louis 185,329
figures
in
the
above
-All
the
are
on the basis of the returns filed
Note.
Minneapolis for the time being, owing to the inability with the Inter-State Commerce Commission.
Where, however, these
returns do not show the total for any system, we have combined the
of the roads to deliver the necessary supplies of wheat, separate
roads so as to make the results conform as nearly as possible to
given in the statements furnished by the companies themselves.
and another was the partial discontinuance of copper- those
a These figures cover merely the operations of the New York Central itself.
Including the various auxiliary and controlled roads, like the Michigan Cenmining and smelting operations in Montana. The tral, the Lake Shore, the "Big Four," the "Nickel Plate," &c., the whole
going to form the N. Y. Central System, the result is a gain of $2.457,882.
railroads, however, had no difficulty in recruiting their
y These figures represent the lines directly operated east and west of
Pittsburgh, Eastern lines showing $1,559,033 increase and the Western
lines
$1,411,365. For all lines owned, leased, operated and controlled, the
ranks with non-union men and in this way quickly got
result for the month is a gain of 23,645,243.
the upper hand over the strikers, though of course PRINCIPAL CHANGES IN NET EARNINGS IN DECEMBER.
Increases.
Decreases.
normal conditions were;not entirely restored, even by Pennsylvania
11$1,280,079 Northern Pacific
$1,637,929
N Y New Haven & Hartf
Atchison Topeka & S Fe_ 1,166,068
588,215
the close of the month. The bad weather was perhaps NY Cent & Hudson Riv_ a474,387 Chicago Milw & St Paul 1.185.362
Valley
385,841 Chicago & North West __
820,573
the most serious adverse state of things, and the part it Lehigh
Pittsburgh & Lake Erie_
326.625 Chicago Burl & Quincy__
784,381
Louisville & Nashville
286,008 Rock Island
592,717
played in affairs was greatly intensified on the roads Erie
284,013 Union Pacific
559,523
Southern Railway
263,356 Great Northern
533,948
Atlantic Coast Line
259.238 Illinois Central_ _,
419,604
which had to contend with the strike of the switchmen. Cleve
Cin Chic & St Louis
193.497 St Louis & San Francisco_
120,725
Norfolk 40 Western
184,300 Texas & Pacific
111,554
The weather not only reduced the volume of railroad Delaware
Lack & West__
133,771 Baltimore & Ohio
110,900
Chesapeake & Ohio
130,984 Chicago St Paul M
108.882
transtonnage, but added greatly to the expense of
Pere Marquette
128,209
Northwestern Pacific_ __ _
117,332
Representing 13 roads
porting it.
Central of New Jersey__ _
112.475
in our compilation_ _58,112.276
Seaboard Air Line
104,649
The circumstances mentioned explain the tremen- Long Island
104,449
Northern Central
104,229
dous augmentation in expenses and prodigious losses in
Representing 19 roads
in our compilation... $5,461,657
net earnings which some of the separate roads or
a These figures cover merely the operations of the New.York Central
systems have sustained. In the magnitude of this itself.
For the New York Central System the result is a gain of $1,181,165.
V These figures represent the lines directly operated east and west of
shrinkage in the net revenues of the larger Western Pittsburgh,
the Eastern lines showing 8997,264 increase and the Western
lines $282,815 increase. For all lines owned, leased, operated and controlled
systems, the month's records are quite unique. Thus the
result is a gain of $1,607,449.
the Northern Pacific suffered a decrease of $1,250,694
When arranged in groups, the distinction in the
in gross and of $1,637,929 in net; the Milwaukee & character of the returns as between the East and the
St. Paul a decrease of $588,744 in gross and of $1,165,- West becomes quite obvious. One of the groups,
362 in net; the Great Northern a decrease of $315,748 namely that comprising the roads running west and
in gross and of $533,948 in net. The Atchison has northwest of Chicago, actually shows a falling off
$1,166,068 loss in net notwithstanding a gain of even in the gross earnings, while three of the groups,
$210,789 in gross; the Chicago & North Western has namely the Northwestern group, the Southwestern
a loss of $820,573 in net in face of a gain of $106,119 in group and the Pacific Coast group, have diminished
gross; the Chicago Burlington & Quincy has $180,840 net, the falling off in the case of the first of these three
loss in gross and $764,381 loss in net; the Rock Island being very noteworthy and reaching over 36%. In
falls $355,339 behind in gross and $592,717 in net. December of the previous year every group had recorded
& O..-
476
[VoL. Lxx.xx.
THE CHRONICLE
an improvement in both gross and net. Our summary in gross and $16,431,096 increase in net. These
figures covered 223,790 miles of line. The Inter-State
by groups is as follows:
SUMMARY BY GROUPS.
Commerce Commission subsequently published sumGross Earnings
Sect on or Group—
Inc.(+)or
maries covering 232,007 miles of line, and on the basis
1909.
1908.
Dec.(—).
December—
that mileage the increase was $11,555,140 in gross
of
Group 1 (25 roads), New England___ 9,757,050 8,807,587
+949,463 10.77
Group 2 (136 roads), East & Middle__ 54,389,451 48,589,465 +5,799,986 11.93
Group 3 (96 roads), Middle West____ 30,184,409 25,772,231 +4,412,178 17.21 and $16,962,654 in net. In the year before there
Groups 4 & 5 (154 roads), Southern __ 28,766,560 26,124,379 +2,642,181 10.12
Groups 6 & 7(119 roads), Northwest.. 43,045,762 44,613,159 —1,567,397 3.51 had been a loss in both gross and net. In the following
Groups 8 & 9(176 roads), Southwest.. 36,545,361 36,225,706
+319,655 0.88
Group 10 (58 roads), Pacific Coast. __ 15,035,866 13,666,615 +1,369,251 10.20 we furnish the December summary for the last fourteen
Total (764 roads)
217,724,459 203,799,142 +13,925,317 6.83 years. For 1908 we use the Inter-State Commerce
Net Earnings
totals,but for preceding years we give the results just
Inc.(+)or
—Mileage—
1909.
1908.
1909.
1908.
Dec.(—). %
as registered by our own tables each year,---a portion
$
S
$
Group No. 1
6;965
6,939 2,755,860 2,049,971
+705,889 34.43
Group No. 2
26,036 25,716 18,221,294 15,344,074 +2,877,220 18.68 of the railroad mileage of the country being always
Group No. 3
24,693 24,469 8,968,341 7,436,783 +1,531,558 21.11
Groups Nos. 4 & 5
39,202 38,297 10,713,135 9,013,798 +1,699,337 18.75 unrepresented in the totals, owing to the refusal of
Groups Nos. 6 & 7
62,168 61,429 10,343,830 16,262,622 —5,918,792 36.39
Groups Nos. 8 & 9
54,704 54,247 10,232,573 12,289,549 —2,056,976 16.74 some of the roads to give out monthly figures for publiGroup No. 10
15,601 14,569 5,779,732 5,920,591 —140,859 2.38
Total
229,369 225,666 67,014,765 68,317,388 —1,302,623 1.91 cation.
NOTE.—Group I. Includes all of the New England States.
Group II. Includes all of New York and Pennsylvania except that portion west
of Pittsburgn and Buffalo, also all of New Jersey, Delaware and Maryland, 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 IV. 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 oi
Minnesota, Wisconsin, Iowa and Illinois; all 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, Oklahoma, Arkansas and
Indian Territory; Missouri south of St. Louis and Kansas 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.
As stated by us in previous months, in grouping the
roads we conform to the grouping or classification
adopted by the Inter-State Commerce Commission.
The only departure we make from the Commission's
arrangement is that we have combined Groups 4 and
5, so as to bring all the Southern roads together under
one head; also Groups 8 and 9, so as to bring the
Southwestern roads together, and have likewise combined Groups 6 and 7, these latter comprising the
systems running west and northwest of Chicago, the
mileage of most of which spreads over the territory
covered by both groups. We do not include any of
the Canadian lines in our figures except, of course, so
much of the same as lies within the United States, and
for which returns are filed with the Commission.
The confines of the different groups are indicated in
the footnotes, to the above table, but it is important
to note that where a road or system covers more than
one group, or overlaps into others, we have necessarily
been obliged to place it in some particular one of the
groups, as no way exists of dividing it up among the
two or more groups where it may be located. Our
plan in such .cases has been to place the road or system
in the group where the bulk of the revenues is apparently obtained. In their annual statements to the
Inter-State Commerce Commission, the companies are
required to show the amounts earned in each of the
groups, but of course no such division is attempted in
the cfise of the monthly returns.
It is proper to say that for December the comparison
is not with such poor results in the previous year as
was the case in the preceding months of 1909. December was the one month in 1908 that had recorded
an increase in gross earnings, _ and we have already
indicated that it also showed an increase in net. In
this latter respect, however, it did not stand alone in
that year, other months alscr having displayed improved net by reason of economies in operating and
great saving in expenses. According to our own compilation, December 1908 showed $10,774,779 increase
Net Earnings.
Gross Earnings.
Year.
Year
Given.
Increase or
Year
Preceding. Decrease.
Dec.
$
$
$
1896 __- 51,220,114 52,520.887 —1,300,773
1897 ___ 67,542,721 59,449,009 +8,093,712
1898... 70,810,178 66,979,889 +3,830,289
1899 ...._ 78,244,324 71,010,127 +7,234,197
1900 ___ 90,789,657 81,465,495 +9,324,162
1901 ..„ 96,268,122 92,628,931 +3,639,191
1902 ___ 104,232,385 93,160,941 +11,071,444
1903 _ __ 106,978,224 102,928,990 +4,049,234
1904 ___ 116,253,981 108,670,412 +7,583,569
1905 _ - _ 133,775,020 119,125,948 +14,649,072
1906 _ _ _ 135,735,226 124,733,435 +11,001,791
1907 ___ 132,199,762 141,312,429 —9.112,667
1908 ___ 205,777,451 194,222,311 +11,555,140
1909 ___ 217,724,459203,799,142 +13,925,317
Year
Given.
$
17,883,104
23,700,713
24,790,227
27,637,073
33,093,800
33,354,272
33,245,049
33,726,576
36,794,527
46,525,454
43,831,182
34,354,158
68,495,740
67,014,765
Year
Increase or
Preceding. Decrease.
$
$
—47,294
17,930,39
20,129,314 +3.571,399
23,220,664 +1,569,563
24,908,012 +2,729,061
29,056,29 +4,037,502
33,766,831
—412,559
30,891,659 +2,353,390
34,199,78
—473,269
32,411,588 +4,382,939
38,842,111 +7,683,343
+887,282
42,943,900
45,998,206 11,644,048
51,533,08 +16,962,654
68,317,388 —1,302,623
Note.—In 1896 the number of roads included for the month of December was 128;
in 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, 7981;n 1909. 784.
RAILROAD GROSS EARNINGS FOR JANUARY.
As 'far as the present preliminary figures are any
guide, railroad earnings for January were much better
than had been supposed. Perhaps adverse influences
were not so pronounced as in December, and yet conditions were not altogether favorable. The switchmen's
strike in the Northwest had, of course, in large measure
lost its influence. On the other hand, the weather
continued an adverse factor, with the further fact
that its sweep was extended so thatthe roads east ofthe
Mississippi suffered from it the same as those west
of the Mississippi. In the early days of January the
accounts in that regard from the West were very
unsatisfactory, the news dispatches from Chicago and
other Western centres speaking of blizzards and
continued cold, under which railroad operations were
being seriously crippled. A little later the Eastern
half of the country was enveloped in a snow-storm,
the fall in this city in a storm on Friday, Jan. 14,
reaching a depth of 14.6 inches.
Notwithstanding, however, the impediments imposed by the weather, and notwithstanding also the
great shrinkage in the cotton traffic over Southern
roads, the tables we present in this article show a
gain of $7,356,827 in the aggregate., or 15.32%. Not
only that, but only6 of the 50roads contributing returns
have any loss in earnings. Of course the present
exhibit may not he altogether conclusive, as it comprises merely the roads furnishing early statements,
embracing altogether 82,136 miles, or but little more
than one-third the railroad mileage of the country.
It is possible, too, that the results as to net may be less
satisfactory than as to the gross. As far as it goes,
however, the comparison is certainly very encouraging.
Among the roads affected the previous month by the
switchmen's strike, the Great Northern, which suffered
most from that cause, is the only one for which we
have the January figures. But in that instance the
FEB. 19 1910.]
THE CHRONICLE
477
contrast between the two months is very striking. , 1,329,296 bales in January 1907. Every point records
For January this important system reports no less than heavily diminished receipts the present year, as will
$1,363,945 increase, whereas for December it had appear from the following:
$420,756• decrease.
RECEIPTS OF COTTON AT SOUTIIERN PORTS IN JANUARY
1910, 1909, 1908, 1907, 1906 AND 1905.
The good showing made this time by the roads as a
January.
whole is the more noteworthy, inasmuch as the
Ports.
1909.
1910.
1906. 1905.
1907.
1908.
present improvement follows improvement also in the
Galveston
bales _ 271,185 398,687 386,994 591,514 202,189 142,827
previous year. Thus in January 1909 our preliminary Port Arthur, &c
18,833
80,601
49,518
26,432 13,311 37,608
New Orleans
151,420 266,950 333,850 369,864 174,836 286,861
Mobile
19,783
42,401
41,303
compilation, covering 79,732 miles of road, recorded Pensacola,
35,698 22,249 21.402
&c
13,097
28,500
35,933
27,364 37,855 25,219
61,410 126,267 140,164 134,928 72,585 83,543
a gain of $2,267,463, or 4.76%. In 1908 (following Savannah
Brunswick, &c
3,988
56,299
58,977
18,374 19.501 16,466
21,631
4,095
16,335
8,249 6,574 5,881
the panic the previous October-November) there was, Charleston
Georgetown, &c
220
348
127
270
129
234
Wilmington
34,486
8,956
55,825
30,700 13,934 10,135
of course, a shrinkage in revenues, the decrease then Norfolk
25,924
62.649
61,479
74,765 32,935 39,098
Newport News, &c
297
3,499
11,138 3,046 1,606
1,473
for the roads making early returns being $4,976,393,
Total
580,384 1,122,148 1,181,972 1,329,296 599,249 670,775
or 8.74%. Prior to 1908 the January record was one
of continuous expansion except where weather condiWestern grain receipts seem to have run ahead of
tions had interfered seriously with railroad transporta- last year, particularly in the case of wheat and corn.
tion service. In the following we furnish a summary For the four weeks ending Jan. 29 the wheat receipts
of the January results, as disclosed by our early at the Western primary markets were 17,433,124
compilations, each year back to 1897.
bushels, against only 9,472,650 bushels for the corresponding four weeks of the previous year, and the
Mileage.
Gross Earnings.
Increase(+)or
January.
receipts of corn were 17,689,083 bushels, against
OT
Year Yr.pre- In.
Year
Year
Decrease (-).
Given. ceding. cese. Given.
Preceding.
15,418,254. Adding oats, barley and rye, it is found
Year. Roads Miles. Miles. %
$
$
$
I % that the aggregate receipts of the five cereals in the
1897 ____ 124 91,113 90,550 0.62 33,135,597 35,962,790 -2,827,193 7.96
1898 ____ 125 95,817 94,873 0.99 40,531,246 34,640,631 +5,800,615 17.00 four weeks of 1910 were 52,722,757 bushels, against
1899 ____. 118 93,605 92,416 1.29 42,073,103 39,423,094 +2,649,109 6.72
1900 ____ 104 95,543 93,427 2.26 48,085,950 41,770,230 +6,315,720 15.10 43,015,233 bushels. In the subjoined table we give
1001 .... 102 97,369 94,683 2.84 55,377,258 51,031,757 +4,345,501 8.51
1902 ____ 94 95,656 94,011 1.75 57,169,120 53,126,110 +4,043,010 7.61 the details of the grain movement in our usual form.
1903 _ _ 75 95,095 93,137
1904 _ _ _
1905 ... _
1906 ____
1907 ____
1908 __ _ _
1909 _ _ _
1910 ____
66
62
54
68
58
51
50
79,629
80,160
81,800
93,516
83,870
79.732
82,136
77,749
78,338
79,997
91,670
82,857
78,148
80,688
2.10
2.42
2.33
2.27
2.01
1.21
2.03
1.80
59,886,350
46,258,053
49,559,869
57,728,897
70,798,432
51,983,470
49,948,282
55,379,765
54,740,827
48,085.470
46,790,179
48,550,919
69,253,693
56,959,863
47,680,819
48,022,938
+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
-4,978,393 8.74
+2.267,463 4.76
+7,356,827 15.32
Note.-Neither the earnings o the Mexican roads nor the mining operations of
the anthracite coal roads are included in this table.
Lest year the roads had one advantage which was
missing in 1910, namely the weather was quite generally mild and hence favorable to railroad operations.
There were some snow-storms in the West at that
time the latter part of the month, but there was no
general or widespread interference with railroad operations such as existed the present year.
We have referred to the large gain recorded this time
by the Great Northern Ry. The increase on the
Canadian Pacific was almost equally noteworthy, being
$1,296,000. In lesser degree improvement comes from
all parts of the country. Notwithstanding the
shrinkage in the cotton traffic, the Louisville &
Nashville has a gain of $654,831 and the Southern
Ry. an increase of $348,578. In the Southwest the
Missouri Pacific reports $490,000 improvement and in
the Middle West the Wabash has added $285,235
to its last year's total and the Illinois Central $249,193.
In the following we show all changes for the separate
roads for amounts in excess of $30,000.
PRINCIPAL CHANGES IN GROSS EARNINGS IN JANUARY.
Increases.
Increases.
Great Northern
$102,603
$1,363,945 Texas & Pacific
Canadian Pacific__
_ _ 1,296,000 Colorado & Southern_ _ _ _
06,017
Louisville & Nashville__ _
87,743
654,831 On New Orl & Texas Pac_
Grand Trunk (9)
77.626
512,576 St Louts Southwestern__ _
Missouri Pacific (3)
490,000 Alabama Great Southern_
60,654
Chesapeake & Ohio
352,170 Central of Georgia
57,800
Southern Railway
348,578 Chicago Ind. & Loulsv___
55,912
Wabash
285,235 Atlanta Birm ec Atlantic_
39,100
Canadian Northern
266.000 Toledo St Louis 6c Western
38,910
Central
Illinois
249,193
Minn St Paul ec SS M.._ _
238,342
Representing 29 roads in
175,100
Denver & Rio Grande__
compilation
$7,217,159
147,157
Buffalo Roch & Pittsb__ _
111,302
Mobile & Ohio
Decreases.
110,365 Yazoo & Mississippi Valley-639,717
Missouri Kansas & Texas_
Nola-Figures in parenthesis after name of road indicate the number of
lines or companies for which separate returns are given in our compilation.
WESTERN FLOUR AND GRAIN RECEIPTS.
Four weeks endWheat,
Flour,
Corn,
Oats,
Barley,
ing Jan. 29(bbls.)
(bush.) (bush.)
(bush.)
(bush.)
Chi
1910
661,609
803,000 8,260,250 5,116,000 1,761,500
1909
297,950 8,474,411 6,105,691 2,788.350
645,643
Milwaukee1910
216,650
558,800
301,400
541,500 815,100
155,825
1909
819,200 1,171.600
718,000
271,000
St. Louis1910
219.050 1.646,135 2,960,424 2,011.200 301.600
952,904 2,333,755 1,683,200 452,400
1909
195,920
Toledo-.
1910
312,550
123,000
139,250
1909
107,000
268,600
105,000
Detroit73,300
1910
11,867
315,292
145,219
1909
53,494
15,300
281,796
128,198
Cleveland1910
3,988
44,018
678,342
208,697
27,031
1909
17,020
4,509
316,960
325,440
18,100
Peoria358,894
1910
66,276 1,650,855
932,450 242,200
1909
103,528
51,000 1,272,509
562,500 264,000
Duluth769,161 341,865
28,605 1,831,775
1910
1909
220,473 179,498
159,903
888,252
Minneapolis1910
9,913,970 1.098,570 1,240.830 2,052,170
1909
801,140 1,405,470
644,620
4,762,880
Kansas City1910
2,630,250 1,854,000
430,600
1909
2,071,150
947,700
603,000
Total of all1910
1909
1,500,663 17,433,124 17,689,083 11,534,807 5,541,466
1,120,725 9,472,650 15,418,254 11,353,842 6,279,418
Rye,
(bush.)
69,000
146,000
63,000
127,800
35.000
29,000
14,000
4,000
40,700
57.000
51,997
14,575
250,580
112,694
524,277
491,069
To complete our analysis we furnish the following
six-year comparisons of the earnings of leading roads
arranged in groups. 'It is rather noteworthy that in
the case of each group the 1910 totals exceed the best
of previous years.
EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP.
January.
Canadian Pac_
Dul So Sh & At
Great Northern
Iowa Central_ _
Minn & St L_ _
AlStP&SSM _a_
1910.
1909.
1908.
1907.
1906.
1905.
$
$
$
6,007,000 4,711,000 4,498,560 4,205,527 4,422,690 3,252,502
219,885
196,058, 199,207
224.126
226,500
199,900
4.093,940 b2,729,995 b3,073,786 2,543,527 3,647,660 2,947,136
232,261
235,457, 257,611
272,747
244,887
212,037
323,448
299,242
312,254
280,932
257.212
222,324
1,568,720 1,330,378' 1,287,867 1,246,387 1,392,804 1,121,439
12,445,1254 9,502,130 9,597,963 8,806,942 10,189,379 7,955,338
Total
a Includes the Chicago Division in 1910, 1909 and 1908; for previous years we
have combined Minn. St. Paul & S. S. M. and Wisconsin Central.
b Actual figures of earnings are now used for comparison.
EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.
-.our
We have spoken of the falling off in the cotton traffic
over Southern roads. The shipments overland for the
month in 1910 were only 151,778 bales, against 204,756
bales in 1910, and the receipts at the Southern ports
were no more than 580,384 .bales, against 1,122,148
bales in January 1909, 1,181,972 bales in 1908 and
January.
1910.
691.832
414,414
I
1909.
1908.
544,675
358,502
$
467,183
336,422
1907.
1906.
1905.
673,258
Buff Roch & P
604.777
708,672
430,897
Chic Ind & Lou
423,038
380,101
Cr Trk of Can
Gr Tr West 3,152,992 2,640,416 2,810,114 3,240,854 2.896,439 2,674,242
Det GII&M
CanadaA ti.
Illinois Central a5,080,263 a4,831,070 a4,619,840 4,659,059 4,516,438 4,085,967
85,940
104,769
121,121
Tol Pea & West
112,063
112,319
100.933
280,414
241,504
288,630
Tot St L & W_
283,784
332,997
329.712
2.271,381 1,986,146 2,015,593 2,107,961 2,046,051. 1,852,049
Wabash
Total
11,996.065 10,688,253 10,658,903 11,557,089 11,032,669 9,981,853
a Embraces some large items of income not prey ously included In monthly returns.
THE CHRONICLE
478
EARNINGS OF SOUTHERN GROUP.
January.
1909.
1910.
1908.
I
254,168
307,255
367,909
Ala Great Sou_
Ala N 0 & T P
245,390
296,130
292,871
N 0 & N East
132,113
140,331
146,057
Ala & Vicksb
123,520
127,295
126,430
Vicks Shr & P
107,667
173,497
212,597
Atl Birm & Atl
877,107
914,600
972,400
Cent of Georgia
Ches & Ohio__ 2,461,823 2,104,653 1,884,763
555,657
662,813
750,556
CInNO &TP
Louis & Nash.b 4,409,600 3,754,769 3,299,868
731,263
811,929
923,231
Mobile & Ohio.
Southern Ry__ 4,384,553 4,035,975 3,802,217
Yazoo & Missy a902,284 a942,001 a935,579
Total
1907.
1906.
1905
342,670
328,021
271,584
198,038
263,577
277,104
113,841
132,865
146,732
121,258
132,786
134,868
82,605
86,144
139,904
744,973
921,749
1,092,464
2,000,288 2,225,816 1,652.559
584,341
709,362
591,012
4,077,101 3,749,549 3,160,235
620.093
824,985
933,623
4,616,719 4,553,356 3,731,114
815,468
901,618
967,849
15,950,311 14,271,248.12,949,312 15,320,334 14,829,828 12,105,109
a Includes some large items of income not previously included in monthly returns.
b Includes Louisville & Atlantic and the Frankfort & Cincinnati in 1910 and 1909.
EARNINGS OF SOUTHWESTERN GROUP.
January.
Colo &South_*
Deny & Rio Gr
lot & Gt North
Mo Kan & Tex
Missouri Pac _ _
St Louis S W_
Texas & Pacific
1909.
1910.
$
1,265,684
1,522,000
656,000
2,005,219
3,672,000
834,902
1,246,809
1,361,701
1,697,100
662,000
2,115,584
4,162,000
912,528
1,349,412
1908.
1907.
1906.
1905.
1,269,049
1,433,123
596,391
1,791,386
3,243,867
722,354
1,261,840
1,174,554
1,594,143
832,711
2,293,266
3,830,629
850,323
1,636,474
1,014,951
1,586,451
546,145
1,693,094
3,695,751
715,638
1,282,342
780,639
1,346,817
481,461
1,456,081
3,243,793
676,453
1,137,887
Total.- ---- 12,260,325 11,202,614 10,318,010 12,212,100 10,534,372 9,123,131
*Includes all affiliated Ines except Trinity & Brazos Valley RR.
GROSS EARNINGS AND MILEAGE IN JANUARY.
Mileage.
Gross Earnings.
Name of Road.
1910.
Alabama Great South
Ala N 0 & Tex PacNew Orl & Nor East
Ala 63 Vicksburg__ _
Vicks Shreve & Pac
Atlanta Birm & Atlan
Bellefonte Central_ __ _
Buffalo Roch & Pittsb
Canadian Northern__
Canadian Pacific
Central of Georgia__ _
Chattanooga Southern
Chesapeake & Ohio
Chicago & Alton
Chicago Ind & Louisv
Cin New On & Tex P.
Colorado & Southern_
Denver & Rio Grande
Denver Nor West & P
Detroit & Mackinac
Detroit Tol & Ironton
Ann Arbor
•
Duluth So Sh & Atl_ _
Georgia South & Fla..
Grand Trunk of Can_
Grand Trunk West
Del Gr Hay & MIL
Canada Atlantic_ _
Great Northern
Illinois Central
Internet & Great Nor
Iowa Central
K C Mexico & Orient_
Louisville Fe Nashville
Macon & Birmingham
Mineral Range
blinneap & St Louis
Minn St Paul & S S M
Missouri Kan & Texas
Missouri Pacific
Mobile & Ohio
Nevada-Cal-Oregon
Rio Grande Southern_
St Louis Southwestern
Southern Railway
Texas Central
Texas & Pacific
Toledo Peoria & West
Toledo St L & West
Wabash
Yazoo & Miss Valley..
$
367,909
1909.
(+) or
(-).
Inc.
Dec.
$
+60,654
$
307,255
1910. 1909.
309
309
292,871
146,057
126,430
212,597
5,251
691,832
792,200
6,007,000
972,400
7,297
2,461,823
986,384
414,414
750,556
1,361,701
1,697,100
60,490
91,482
y78,298
y125,515
219,885
188,886
-3,259
196
196
296,130
143
+5,726
143
140,331
-865
189
127,295
189
+39,100
641
173,497
641
-39
27
5,290
27
+147,157
568
544,675
568
+266,000 3,180 3,094
526,200
4,711,000 +1,296,000 9,916 9,426
+57,800 1,916 1,016
914,600
+1,045
99
6,252
99
+352,170 1,939 1,896
2,109,653
998
+7,582
998
978,802
615
615
+55,912
358,502
336
336
+87,743
662,813
+96,017 1,980 1,951
1,265,684
+175,100
2,555 2,552
1,522,000
+20,911
39,579
210
210
347
+2,403
347
89,079
+ 5,444
441
y72,854
441
301
+20,185
y105,330
301
593
+23,827
591
196,058
395
395
+19,812
169,074
3,152,992
2,640,416
4,093,940
5,080,263
662,000
232,261
141,000
4,409,600
10,702
65,600
323,448
1,568,720
2,115,584
4,162,000
923,231
26,345
45,025
912,528
4,384,553
103,335
1,349,412
104,769
280,414
2,271,381
902,284
2,729,995 +1,363,945 7,037 6,859
+249,193 4,551 4,551
4,831,070
+6,000 1,159 1,159
656,000
558
-3,196
558
235,457
733
543
+18,300
122,700
+654.831 4,598 4,406
3,754,769
+224
105
105
10,478
126
+3,940
128
61,660
+24,206 1.027 1,028
299.242
+238,342 3,523 3,330
1,330,378
2,005,219
+110,365 3,072 3,072
+490,000 6,491 6,488
3,672,000
+111,302 1,114 1,114
811,929
184
+7,802
184
18,543
42,071
180
+2,954
180
+77,626 1,470 1,470
834,902
+348,578 7,050 7,016
4,035,975
268
268
-2,446
105,781
+102,603 1,885 1,885
1,246,809
247
247
+18,829
85,940
451
451
+38,910
241,504
+285,235 2,514 2,514
1,986,146
-39,717 1,371 1,371
942,001
Total (50 roads)._ 55,379,765 48,022,938
Net increase (15.32%)
Mexican Roads (not in eluded in to tap739,182
628,483
Interoceanic of Mexico
591,282
777,306
Mexican International
557,300
629,300
Mexican Railway_ .._.
4,160,347 4,148,620
Nat Rys of Mexico__ _
+512,576 4,528 4,528
+7,356,827 82,136 80,688
736
734
+110,699
917
905
+186,024
321
361
+72,000
+11,727 5,262 5,160
V These figures are for the first three weeks only in both years.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.'S.
-The public sales of bank stocks this week aggregate 117
shares, of which 52 shares were sold at the Stock Exchange
and 65 shares at auction. Transactions in trust company
stocks were limited to 37 shares. Prices were generally lower
as compared with the last previous sale, excepting for stock
of the National Park Bank and of the Lawyers' Title Insurance &Trust Co., which advanced 12M and yi points respectively.
Low,
Shares. BANKS-New York.
•8 City Bank, National
412
192
*19 Commerce, Nat. Bank of
•5 Hanover National Bank__ _ _ 625
50 Manhattan Co.. Bank ot the_ 3265j
475
*20 Park Bank, National
128
Reserve Bank, National
BANK-Brooklyn.
246
5 Nassau National Bank
TRUST COMPANY-New York.
25 Lawyers' Title.Ins.FG Tr.Co_ 296 h
TRUST COMPANY-Brooklyn.
180
12 Nassau Trust Co
• Sold at the Stock Exchange.
10
High.
412
195
825
328k
483
128
Close.
412
195
625
326j
483
128
Last Previous Sale.
Dec. 1909- 420
Feb. 1910- 199
Dec. 1909- 663
Jan. 1910- 351
Jan. 1910- 470
Jan. 1910- 130
246
246
Feb. 1910- 256
M
296 M 296 M Feb.
1910- 205
180
1910- 183 M
180
Feb.
[VOL. Lxxxx.
-A New York Stock Exchange membership was sold
yesterday for $85,000, the last previous sale having been
for $82,000.
-J. Pierpont Morgan was one of the passengers on the
White Star Steamer "Cedric" which sailed for Naples on
Wednesday.
-The carrying into operation of the publicity clause of the
Corporation Tax Law seems now to rest upon the question
of an appropriation by Congress of $50,000 to meet the
expenses attendant to the indexing and display of the
returns. This is the situation as given by President Taft in
a communication to Secretary of the Treasury MacVeagh
on the 16th inst. In this the opinion is expressed by the
President that it was intended by Congress that the returns,
original and corrected, but not the documents and evidence
taken upon investigation, should be open to inspection as
are court records. The sum of at least $50,000, he states,
will be required to properly index and display. the returns
of more than 400,000 corporations, to house them in rooms
convenient of access for the public, and to provide clerks for
the care and custody of them under such conditions. While
an appropriation of $100,000 is provided "for the expenses
of collecting the corporation tax," it appears that under
section 4 of the Act of August ,5 1882 the Secretary of the
Treasury is prohibited from using any part of that appropriation for the employment of persons within the District
of Columbia-in other words, no appropriation exists with
which to make the returns of corporations a public record,
available for public inspection in any different manner from
that in which other internal-revenue records are public
records. The President states that in his judgment the
failure to make a specific appropriation for the purpose
was an oversight, due to the supposition that the $100,000
might be applied in part to the purpose referred to, and
that it was the intention of Congress to make these records
different from the ordinary internal-revenue records, and
really subject to general public inspection. The Secretary is
advised to state the case to the House and to suggest that if it
is intended that this construction shall be carried into execution, there must be an appropriation of $50,000 for the
specific purpose, and that the further statement be made
that if no such appropriation is provided the only course
open will be to treat the returns as other internal-revenue
records. This appropriation is asked for in a letter embodying the facts related above submitted to the Speaker of the
House by Acting Secretary Charles D. Norton.
In view of the above, Internal Revenue Commissioner
R. E.Cabell issued the following instructions on Thursday
with regard to the returns,in a communication to those in
the employ of the Department:
If it was the intent of Congress to make these returns open to general inspection, it will be necessary for it to appropriate a sum sufficient to cover
the necessary expenses. Until this is done this Bureau rules that the
returns made under this law are to be handled just as returns made under
other Internal revenue statutes.
Any person, therefore, other than the tax-payer making the return or
his duly appointed agent or attorney, who desires to see such returns
shall make written application to the Secretary of the Treasury, who In
his discretion will, upon a proper showing of cause, approve such request.
A request thus approved should then be presented to the Commissioner
of Internal Revenue, who will thereupon permit the return In question to
be seen by the applicant upon such conditions as the Secretary of the
1
Treasury shall have imposed.
The constitutionality of the corporation tax law is questioned in two other suits, besides those we have already
mentioned, which have reached the Supreme Court. These
proceedings are brought by Arthur Lyman and Arthur T.
Lyman, trustees of the will of George Beatty Blake of Boston, vs. the Interborough Rapid Transit Co. and Amory
.Eliot of Manchester, Mass., against the trustees of the
Cushing Real Estate Trust. The Blake Estate is the owner
of 150 shares of stock in the road and the trustees have instituted the action to restrain the company from paying the
tax imposed under the law. In the Eliot case, according to
the New York "Times," an appeal was taken from the
judgment of the United States Circuit Court in the District
of Massachusetts, where the act was sustained. It appears
that one of the contentions of the plaintiff was that the law
did not apply, because the trust had no capital. Judge
Lowell, in announcing his decision, it is said, pointed out
that the declaration of trust provides for the issue of 4,800
shares, and for the issuance of certificates of shares, thus
making them transferable. The Judge held that so far as
FEB. 19 1910.1
THE CHRONICLE•
this objection is concerned, the trust is an association within
the terms of the Act.
—Under an amendment to the Postal Savings Bank Bill
which Senator Root has drafted, the section of the bill respecting the investment of moneys received through this
source is changed in an essential particular. As was pointed
out in a discussion of the bill in our issue of the 5th inst., it
provides in its present form that the funds are to be redeposited in banks located as nearly as practicable in the
immediate neighborhood in which they are received; in
case of the refusal of the banks to accept the deposits, there is
a provision that the funds may be "deposited with the
Treasurer of the United States, * * and may be withdrawn from deposit upon their order for the repayment
of postal savings depositors, or for investment in bonds
or other securities of the United States,or in bonds or other
securities in which investment of the funds of savings banks is
authorized by the law of the State or Territory in which
such deposits were received." Senator Root's proposal
reverses this arrangement by stipulating that the funds
"shall be invested in the securities of the United States,
under rules to be made by the board of trustees," the proviso
being made that "whenever and to the extent that securities
of the United States are not available for authorized issue
or for purchase at prices deemed by said trustees to be
reasonable," the funds are to be re-deposited in the local
banks.
—Harrison S. Martin has succeeded John C. Burns,
resigned, as Assistant Secretary of the New York Stock
Exchange. Mr. Martin had been Second Assistant Secretary.
Mr. Burns resigns because of ill-health.
—As a result of the collapse in the stock of the Columbus
& Hocking Coal & Iron Co. on January 19, Henry S. Haskins
of Lathrop, Haskins & Co., one of the firms whose failure
was brought about through the break, is barred from reinstatement in the New York Stock Exchange. This is
the decision reached by the Governing Committee of the
Exchange on Wednesday, when action on the report of the
sub-committee with respect to the failure was taken. The
statement issued by the Exchange in the matter says:
The Governing Committee determined that the failure of Lathrop,
Haskins & Co. on January 19 1910, of which firm Henry S. Haskins, a
member of the Exchange, was a•member, was caused by reckless and
unbusinesslike dealing, and said Henry S. Haskins was declared ineligible
for reinstatement.
According to the latest Stock Exchange Directory (Jan.
uary 1910) Mr. Haskins is the only Board member of the
firm, which since February 1909 has consisted of himself,
Henry Stanton Leverich and Fannie Graves Lathrop, as
special partner. After the announcement of the decision
of the Governors Mr. Haskins gave out a statement in
which he declared himself to be "unjustly treated." Mr.
Haskins states that, although repeatedly requested, no
effort has been made by the Exchange to inspect the books
of his firm to learn whether the public belief in gross manipulation and matched orders is correct or not, and asserts
that in the matter of matched orders and offences against
the rules of the Exchange, the handling of the stock on the
floor of that body was from the first above reproach. The
object of the pools, he contends, was to accummulate and
keep, not distribute, the stock, and at no time, he says, was
either pool closed out or profits taken. The honesty of his
intention, he adds, is shown by the fact that his firm and his
friends are the worst sufferers, if not the only ones. The
following petition signed by creditors of Mr. Haskins's firm,
and read before the Governing Committee at Wednesday's
hearing, was submitted by Mr. Haskins in connection with
his statement:
We,the undersigned, creditors of Lathrop, Haskins & Co., understanding
479
Bank of New York, Bank of Montreal, The Royal Bank of Canada, Centre
Trust Co. of New York, The National Park Bank of New York, The Importers' & Traders' National Bank of New York.
Action on the report of the sub-committee appointed to
look into the failure of J. M. Fiske & Co. was postponed
on the 9th to the 23rd inst.
The firms of Tucker, Anthony & Co. and Van Schaick &
Co., mentioned with four other firms by the Special Committee of the Exchange in its report on the Hocking proceedings (printed in these columns last week), as having subscribed to the pools for the account of Lathrop, Haskins &
Co., are exonerated from the criticism to which they were
subjected in the report in the following resolution which has
since been adopted by the Exchange:
Whereas, Since the making by the Special Committee of Five of its
report concerning transactions in Columbus & Hocking Coal & Iron Co.
stock and the confirmation thereof by the Governing Committee, Messrs.
Tucker, Anthony & Co., and Van Schaick Fc Co. have furnished to the
Special Committee additional and supplementary evidence proving to the
satisfaction of said Special Committee that their subscriptions to the
pool were for the account of a customer, and that they were wholly ignoran
that said customer was acting for or had any relations with Lathrop
Haskins & Co. in the matter, now therefore
Resolved, That the Secretary be instructed tO inform Messrs. Tucker
Anthony & Co. and Van Schaick & Co. that,in the judgment of the Governing Committee, they should not be included among the Stock Exchange
firms whose acts were by said report declared to merit condemnation.
—James R. Keene, who was examined this week before
United States Commissioner Alexander in the bankruptcy
proceedings of J. M. Fiske & Co., admitted that he was the
manager of the two Hocking pools, the first of which was
formed on March 1 1909 and the second in July 1909. Both
pools, he stated, were formed to accumulate 20,000 shares
each, and at the time of the collapse Pool No. 2 had 16,000
shares.
—An article dealing with the adaptability of ClearingHouse loan certificates to the purposes of emergency currency, from the pen of William A. Nash, President of the
Corn Exchange Bank of this city, appeared in the New York
"Times" of Monday last. In discussing the theories for
correcting the defect in our banking system, Mr. Nash noted
that at this time the central bank has the lead. He expresses the fear, however, that, much as such an institution
is desirable,the political features will be so emphasized as to
prevent its enactment. What we need, in Mr. Nash's
opinion, in a panic or crisis, is an immediate and sufficient
devise to stay ruinous liquidation and enable necessary readjustment to proceed on deliberate lines, and he points
out that the Clearing-House loan certificate fulfils this
requirement. Tried in New York in the past fifty years
some eight or nine times, it has always, he said, been attended with success, and without the loss of a single dollar
to the banks which endorsed them. The function of the
Clearing-House loan certificates as a 'solution for our monetary troubles is therefore submitted by Mr. Nash for consideration. He says:
I would make these certificates the starting point for currency, I would
urge the legalization in the great central reserve cities and make them
the basis of the subsidiary money which we manufactured and bought in
1907. It is true the central reserve cities are only three in number, but
the number should be increased so that every section should have proper
representation.
I would confine the Clearing-House loan certificates applicable to this
purpose to these few great centres which arc representative of the entire
country, and where the banking ability and banking capital is strong
enough to give assurance of an undisputed security. Then, inasmuch as
all this is so far practically accomplished, let us have a great bureau of
United States currency which will issue notes upon these certificates whenever presented by any central reserve city, upon such conditions as will
insure their prompt return and redemption whenever their need has ceased
to exist.
The people will recognize immediately the validity of such a currency
obtained in such a way. It will be the experiment that is attended with
the least risk. All financial reforms are evolutionary. They must emerge
gradually from established forma or the public gets confused and frightened.
The well-grounded Clearing-House loan certificate expanding naturally
into a small currency issued by the Government is the natural solution of
a problem that only becomes perplexing when you apply it to remedies that
are theoretical and not practical.
that the Governors of the Stock Exchange will shortly render a decision
as to the eligibility of Henry S. Haskins for reinstatement as a member
of the Exchange, do respectfully represent to the Board of Governors
A central currency issued by the Government on Clearing-House loan
that in our opinion the interests of the creditors of the said firm would be
better served by permitting Mr. Haskins time and opportunity to place certificates would not only meet the requirements of internal exchange
prevent by the very certainty of issue the fictitious demands that
but
himself in a position to regain his seat than by definitely debarring him
therefrom. Our belief in his personal integrity and in the sincerity of his arise at such times.
motives remains unshaken. We have confidence in his expressed intention
—Thomas F. Vietor was elected a director of the National
that if such opportunity is given he will devote himself earnestly to the
rehabilitation of his fortunes and the building up of the properties in which Park Bank of this city on Tuesday.
he is interested, to the end that he may make good the losses sustained
—The North River Savings Bank, at 31 West 34th Street,
by his failure. And we believe that it deprived of his seat the probabilities
of his effecting such purpose will not only be greatly diminished but that has lost an important officer in the death of Frederick N.
there is grave danger that his removal would undeservedly be regarded Cheshire, its Secretary and Treasurer. Mr. Cheshire had
by the general public as a reproach to his character and honesty.
The National City Bank of New York, First National Bank of New been with the bank for over sixteen years. He was an able
York, Guaranty Trust Co. of New York, The Market & Fulton National officer and his loss is deeply deplored by his colleagues.
480
THE CHRONICLE
Lxxxx.
— Win. S. Felton & Co. of Salem, Mass.,have made their
usual compilation of the statements of Salem banking insititutions, the figures being those at the close of business January
311910,the date of the last return to the national and state
officials. The banking capital of the national banks and
trust companies is reported by them as $850,000 and the
surplus and undivided profits $806,884. The total deposits
of the national banks and trust companies are $6,536,067—
a loss of $364,435 since November 16, and of the two savings
banks $16,701,336, an increase of $430,466. The resources of the two co-operative banks are $845,471, an
increase of $7,096.
—The Beverly National Bank of Beverly, Mass., has arranged to increase its capital from $200,000 to $300,000.
The proposition was ratified by the stockholders on Jan. 11,
and the enlarged capital will become effective on April 15.
The additional stock will be issued at $150 per $100 share,
the premium of $50,000 going to surplus.
—The Rutland County National Bank of Rutland, Vt.,
has reduced its capital from $300,000 to $100,000. The
change was indorsed at a special meeting of the stockholders
on Dec-. 27 and went into operation on the first of the year.
With its reduced capital,the bank reports a surplus of $50,000 and Undivided profits of $7,500. Henry F. Field is
President; E. C. Lewis, Vice-President, and Carl S. Cole,
Cashier.
—Henry C. Stroup, formerly President of the Farmers' &
Mechanics' National Bank of Philadelphia, died on the 4th
inst. Mr. Stroup was eighty-eight years of age. He resigned the presidency of the bank in 1904, after serving the
institution continuously for fifty years. He had remained
on its board of directors up to the time of his death.
—Samuel L. Clark has been elected agent to wind up the
• affairs of the failed National Deposit Bank of Philadelphia.
The institution suspended July 14 1908. The final dividend
to the depositors, making the aggregate 100%, was distributed in December last, the city of Philadelphia receiving
$3,462 65—$2,000 representing the final payment on the
$40,000 deposit it had in the institution at the time it closed
and $1,462 65 being the interest.
—A massive silver punch bowl was presented on the 4th
inst. to George H. Earle Jr. by the directors and officers
of the Tradesmen's National Bank of Philadelphia as an expression of their appreciation of his services during the
fourteen years he was President of the institution. Mr.
Earle retired from the presidency last month.
—In a statement issued by the Trenton Banking Co. of
Trenton, N. J., on the 101st anniversary of the birth of
President Lincoln (Feb. 12 1910), it is noted that on that
date 105 years ago the institution elected its first board of
directors, who in turn elected Isaac Smith as President, and
began the business which has since continued uninterruptedly.
One evidence of the bank's steady growth and prosperity is
advanced in the fact that on January 3 1910 it paid its
202nd dividend. When the institution started it had a
capital of $59,580 and no surplus. On the 12th inst. its
capital is reported as $500,000, its surplus and profits as
$504,048, its deposits as $3,302,703 and its aggregate
resources as $4,511,399. The officials are John A. Campbell,
President; Henry W. Green Vice-President; Robert W.
Howell, Cashier, and Ira Frost,, Assistant Cashier.
—Negotiations have been entered into for the merger of
the International Trust Company and the Baltimore Trust
& Guarantee Company of Baltimore into a new organization,
Resources.
Date.
Resources.
Date.
$20,194,783 to be formed under the name of the Baltimore Trust Company.
56,929,35211906
1900
20,391,403
13,216,660 1908
1902
25,763,520 The International has a capital of $1,500,000 and surplus
15,457,168 1910
1904
decade
resources
aggregate
past
the
in
that
seen
It will be
and profits of about $1,100,000, and the Baltimore Trust &
advanced from $6,929,352 to $25,763,520. Stephen M. Guarantee a paid-in capital of $800,000, with surplus and
Clement is President, John J. Albright and John H. Las- profits of about $2,174,000. The plans with respect to the
celles, Vice-Presidents, and Clifford Hubbell, Cashier.
proposed company will be submitted for the approval of
—J. Francis Day, who is Secretary of the Utica Trust & the stockholders on the 28th inst. They provide, according
Deposit Company of Utica, N. Y., has in addition been to the Baltimore "Sun," a capital of $1,000,000 and a surmade a Vice-President of the institution.
plus of not less than $2,500,000; the stock is to be in 20,000
—The First National Bank of Boston, Mass., plans to in- shares of a par value of $50 each, 10,000 of which will go
crease its capital from $2,000,000 to $3,000,000. The to the stockholders of the International and 10,000 to those
new stock will be offered to the present shareholders at of the Baltimore Trust & Guarantee Company. Besides
$300 per share (par $100), payment to be made on April 4. this there is to be a distribution of $1,665,000 among the
The stockholders will meet on March 14 to pass upon the shareholders of the uniting companies, the stockholders of
the Baltimore Trust & Guarantee receiving $970,000, the
proposition.
—Indictments against the members of the firm of Tracy
& Co. of this city, which failed on May 17 1909, were reported as returned by the Grand Jury of the Supreme Court,
Criminal Branch, on the 1st inst. The three members,
William W. Tracy, Frederick W. Parker and Robert D.
Covington, have since surrendered themselves and were
released under bail of $10,000 each.
—E. S. A. de Lima, who has resigned as President of the
Hungarian-American Bank of this city, is to become President of the Banco Mexicano de Comercio e Industria, of
Mexico City, one of the strongest banking institutions of
that city, with a capital of $5,000,000. Among its directors
are: Lie. Pablo Macedo, Rodolfo Stoecker, Hugo Scherer Jr.,
,James Speyer of Speyer & Co. of New York, H. Clay Pierce,
President of the Waters Pierce Oil Co.; Jacob Langeloth,
President of the American Metal Co., Albert.Ballin, President
of the Hamburg-American Line and E. Heinemann and
George Zwilgmeyer of the Deutsche Bank of Berlin.
—William E. Holloway has been elected President of the
Hungarian-American Bank of this city, to succeed E. S. A.
de Lima, resigned. Mr. Holloway comes from Montgomery, Ala., where he was President of the Montgomery Bank
& Trust Co. Thomas E. Lovejoy, heretofore Vice-President
of the latter institution, succeeds to the presidency.
—Seth E. Thomas, Treasurer of the Seth Thomas Clock
Co., and a trustee of the Washington Trust Co. of this city,
died on the 6th inst. He was in his sixty-ninth year.
—G. Lee Stout, one of the partners in the firm of A. 0.
Brown & Co. of this city, which failed in August 1908, was
granted a discharge from bankruptcy, both as to individual
and firm liabilities, on the 14th inst. It is stated that
Mr. Stout is the first one of six partners to get a discharge.
—James A. Parker will retire as a Vice-President of the
Old Colony Trust Company of Boston to become a partner
on April 1 in the banking house of Charles Head & Co.,
members of the New York and Boston stock exchanges.
Charles Head, the senior member of the firm, died last month.
Mr. Parker has been associated with the Old Colony Trust
for about ten years.
—It is announced that negotiations are under way for the
merger of the Home Bank of Brooklyn Borough with the
People's Trust Co. President Boody of the trust company is
quoted in the Brooklyn "Eagle" as stating that his institution
has for some time been considering the opening of a branch in
the territory in which the bank is located, and that recently
negotiations were opened by his company with the owners
of the bank to take over the latter and operate it as a
branch. The bank is located in South Brooklyn at 5324
Fifth Avenue. It has a capital of $100,000, and under the
Nov. 16 call reported deposits of $454,089. It was organized
in 1905; following the panic disturbances,it closed its doors
on Feb. 1 1908, but re-opened the ensuing June, and paid
the final installment arranged for under the reorganization
plan within six months of its resumption, and a year before
the payment was due. The People's Trust Co. has $1,000,000 capital and nearly $18,000,000 of deposits.
—Matthais H. Arnot, President of the Chemung Canal
Trust Co. of Elmira, N. Y., died on the 15th inst. in his
seventy-eighth year.
—The growth experienced by the Marine National Bank
of Buffalo during the last ten years is illustrated in the
following little table of resources, the figures in each case
being those for January 31.
FEB. 19 1910.1
THE CHRONICLE
rest being divided among the International's stockholders.
The officers slated for the new company are Thomas H.
Bowles,President; Douglas H.Gordon, First Vice-President;
George C. Morrison, Second Vice-President; Samuel C.
Rowland, Third Vice-President, and Charles D. Fenhagen,
Secretary and Treasurer. Messrs. Bowles and Morrison are
respectively President and First Vice-President of the
Baltimore Trust & Guarantee Co.; Messrs. Gordon, Rowland
and Fenhagen are President, Vice-President and Treasurer
respectively of the International.
—The Bank of Pittsburgh (National Association), Pittsburgh, Pa., has rounded out 100 years, having completed
an existence of a century on the 10th inst. In celebration
of the event the bank distributed souvenirs to its patrons
and friends visiting the institution, and an exhibition was
held of documents and papers identified with the early history
of the bank. The phrase, "The oldest bank in the United
States west of the Alleghany Mountains," is a familiar desig_
tion the institution uses. Harrison Nesbit, who resigned
as a national bank examiner last May to become VicePresident of the institution, was elected President, succeeding Wilson A. Shaw, on the day of the anniversary. Mr.
Shaw, who desired to be relieved of the duties devolving
upon the head of the bank, has become First Vice-President
and Chairman of the Board. The management otherwise
consists of James.J. Donnell, Vice-President; W. F. Bickel,
Cashier; J. M. Russell, J. D. Ayres and E. C. Morey, AssistCashiers; and George F. Wright, Auditor.
—The Exchange istational Bank of Pittsburgh has added
considerably to its business during the past seven months,
as the appended table showing the deposits reported to the
Comptroller of the Currency under the four last calls indicates:
Date.
June 23 1909
Sept. 1 1909
Deposits.
Date.
$1,006,035 Nov. 16 1909
2,855.153 Jan. 31 1910
Deposits.
$3,666,227
3,886,636
it will be seen, have increased since June last
$1,920,601, or 98%. This institution has a capital of
$1,200,000 surplus and undivided profits of $845;500 and
aggregate resources of $6,667,498. Joseph W. Marsh is
President; John Moorhead Jr., Albert H. Childs and Ralph
H. Binns
.)? Vice-Presidents; Alexander Dunbar, Cashier, and
S. N.'Kreider, Assistant Cashier.
—The deposits of the First National Bank of Pittsburgh
.have increased over four millions of dollars during the past
year, having advanced from $19,236,835 on Feb. 5 1909 to
$23,339,022 on January 31 1910. The institution has a
capital'of $1,000,000 and surplus profits of $2,167,351.
—The amount due to the City of Cleveland by the South
Cleveland Banking Co. of that city, which failed on Jan. 6, is
reported to have been paid in full. The "Leader" states that
the city's account was discharged on the 14th inst.; with
principal and interest combined it amounted to a little over
$127,000 at the time of the failure. The deposit was secured
by real estate mortgage bonds. U. G. Walker, President
of the company, and William G. Duncan, Treasurer, pleaded
not guilty on the 2d inst. to a charge of perjury, on which
they were said to have been indicted last month. The charge
stated concerns the alleged filing of a false statement to the
Banking Department in Dec. 1908.
—Harrison R. Newcomb, who resigned last month as
President of the Citizens' Savings & Trust Co. of Cleveland,
Ohio, owing to impaired health, died on the 4th inst. Mr.
Newcomb was one of the organizers of the Savings. & Trust
Co., and when it consolidated in. 1903 with the Citizens'
Savings & Loan Association, he became President of the resultant institution, the Citizens' Savings & Trust Co. He
was in his sixty-eighth year.
—Frank .P. Glazier, formerly President of the failed
Chelsea Savings Bank of Chelsea, Mich., and ex-Treasurer
of the State of Michigan, was sentenced on the 5th inst. to
serve from five to ten years' imprisonment. The accused
was convicted a year ago of misappropriating funds of the
State (to the amount, it is said, of $685,000) in placing the
money on deposit with his institution, which was held to be
an illegal depository. A motion for a stay of judgment was
overruled by the Court. The bank failed in December 1907.
—The specifications for the new building of the Harris
Trust & Savings Bank of Chicago were given out this week
to the contractors for estimating • purposes, and as soon as
II1Deposits,
481
they have been returned and passed upon by the institution's
building committee, the work of demolishing the present
structure, to make way for the proposed building, will start.
The project has been referred to heretofore in this department, our issue of Aug. 14 of last year having contained
an item with regard thereto. The site the building is to
occupy is on the south side of Monroe Street between Clark
and La Salle streets. The building which, together with
the land, will cost approximately $3,000,000, will have a
frontage of 90 feet and will extend south 189 feet to an
alley between Monroe and Adams streets. It will be twenty
stories in height, rising 260 feet above the sidewalk, and
will rest on caisson foundations which will go down 110 feet
to bed-rock. The construction will be fireproof throughout,
while the superstructure will be of steel. The exterior
finish of the first five floors will be of pink granite, highly
polished and decorated with statuary bronze, with mammoth
granite columns 5 feet 8 inches thick at the base, and rising
to a height of more than forty feet. Above the granite
work will rise the main shaft of red Roman brick, capped
by ornamental terra cotta. The quarters of the Harris
Trust & Savings Bank will be 'the ground floor and a
commodious balcony overlooking the main floor. The public
space of the banking officeslwill be finished in Italian marble,
and a bank counter and screen of marble and bronze will
divide this space from the officers' quarters and the counting
room. The balcony will afford facilities for the bank's
clerical force. Acommodious basement will be used by the
bank for its safety deposit vaults, and below this basement
there will be two sub-basements, the lower one containing
the mechanical department of the building. Much of the
space in the upper floors has already, it is said, been rented
for office purposes.
—The application to organize the La Salle Street National
Bank of Chicago, referred to in these columns Feb. 5, was
approved at Washington on the 5th inst. The La Salle
Street Trust Co., which is to be allied with the bank, has
also received authority from the State Department to proceed
with its organization, and it is stated that the two institutions
plan to begin business in April. The capital in each case
will be $1,000,000, and the selling price of the stock has been
fixed at $125 per share, so that each institution will have a
surplus of $250,000. Those serving as the incorporators
of the bank are C. B. Munday, Jno. R. Farthing, William
• J. Moxley and William Lorimer Jr.
—Edward M. Lacey, an Assistant Cashier of the Commercial National Bank of Chicago, and son of Edward S.
Lacey, Chairman of the board of directors• of that institution, died on the 4th inst. He was twenty-eight years of
age. He graduated from Yale in 1904.
—The address of George E. Roberts, President of the
Commercial National Bank of Chicago, dealing with the
"Objections to a Postal Savings Bank," and delivered last
June at the annual meeting of the Minnesota Bankers' Association, has been printed in pamphlet form. Reference to
the paper was had in these columns on June 26.
—The Michigan Avenue Trust Co. of Chicago, which has
been formed by interests identified with the Colonial Trust
& Savings Bank of that city, is slated to begin business
within the next few months. The new institution has been
organized with $200,000 capital and $50,000 surplus. Its
quarters will be on Michigan Avenue near 22d Street.
—Howard 0. Edmonds, heretofore an Assistant Secretary
of the Northern Trust Co. of Chicago, Ill., has been elected
a Vice-President of the institution.
—The Central Trust Company of Des Moines, Iowa,
organized last month, has commenced business. The company has a capital of $200,000 but no surplus is to be paid
in at this time. It will confine itself to a general trust business in accordance with the law under which it is formed,
which does not permit the conduct of a banking business. The officials are J. D. Whisenand, President; E.
E. Clark, Vice-President and L. B. Bartholomew, Secretary. Mr. Whisenand is Vice-President of the Central State
Bank of Des Moines and Mr. Clark is associated with the
Bankers' Life Association.
—The Kansas Bankers' Association will hold its twentythird annual convention at Topeka on May 26 and 27.
W. W.Bowman of Topeka is Secretary of the organization.
•
[VoL. Lxxxx.
THE CHRONICLE
482
• -The Drovers' National Bank of Kansas City, Mo., has (Commercial and VAiscellantons4M33
increased its capital from $200,000 to $300,000. We are
DIVIDENDS.
advised.that, following the agreement;of the(stockholders to
the proposition, the additional stock was paid in in December.
The following shows all the dividends announced for the
The surplus and undivided profits of the institution, which future by large or important corporations:
began business several months ago, are $35,000.
Dividends announced this week are printed in italics.
-The Mississippi Valley Trust Co. of St. Louis, has
When
Per
Books Closed.
Cent. Payable.
Days Inclusive.
Name of Company.
enjoyed a marked increase in its business during the past
year as the appended table indicates.
Railroads (Steam).
Feb. 26 Holders of rec. Feb. 11
3
Alabama Great Southern, preferred
Atchison Topeka & Santa Fe,corn.(quar) 1K itch. 1 Holders of rec Feb. 7a
3
Mch. 1 Holders of rec. Feb. 1
Baltimore & Ohio, common
Mob. 1 Holders of rec. Feb. 1
2
Preferred
Mob. 31 Holders of rec. Feb.28.4
2
As shown in the foregoing, deposits during the thirteen Boston & Albany (quar.)
Boston & Maine, common (guar.)
1K April 1 Holders of rec. bleb. 1
Mch. 1 Holders of rec. Feb. 11
3
months advanced from $15,799,438 to $20,230,001, reprePreferred
April 1 Mch. 2 to April 5
3
Pacific, common
senting an addition of nearly four and one-half million Canadian
April 1
1 Mob. 2 to
April
Common (extra)
K
April 1 Melt. 2 to April 1
2
Preferred
dollars. Aggregate resources increased from $24,191,310 Chesapeake
itch. 31 Holders of roc. Mch. 11
1
cfc Ohio (guar.)
Chestnut Hill (guar.)
1K Itch. 4 Feb. 21 to Mch. 3
to $28,807,855 during the same period.
3g Mch. 1 Holders of rec. Feb. 10
Chicago Mew. & St. Paul, corn. dr pref
Chic. St. P. Minn. & Omaha,corn. & pref. 3g Feb. 21 Holders of rec. Feb. 2
3
Mch. 1 holders of rec. Feb. 15
Cincinnati Northern (No. 1)•
1g Mch. 1 [folders of rec. Feb.19a
N. 0. & Texas Pac., pref. (quar.)_
COLUMBIA TRUST CO.-Owing to an error in one of the Cin.
1 Holders of rec. Feb. 7a
itch.
2
corn
Louis.
St.
&
Chic.
Cin.
Cleve.
& Pittsb. reg., guar. (guar.)._
1K Mch. 1 Holders of rec. Feb. 10
items in the statement of this company as published in the Cleveland
1
Mch. 1 Holders of rec. Feb. 10
Special guaranteed stock (guar.)
itch. 1 Holders of rec. Feb.18a
Creek Central, pf.. (qu.)(No. 17) 1
"Chronicle" of last week, we reprint the statement below. Cripple
Feb. 21 Holders of reo. Feb. 11
Delaware & Bound Brook, guar. (guar.) 2
2g Mch. 21 Holders of rec. Feb. 26
& Hudson Co. (guar.)
The amount of "All other profits received during the year" Delaware
1 Holders of reo. Feb. 1
3g
itch.
110)
(No.
Central
Illinois
1K Mch. 16
was inadvertently given as $24,489 when it should have Louisiana dc Arkansas (No. 8)
3g April 15 [folders of rec. Mch. 25
Minn. St. Paul & S. S. M coin. & pref
itch. 1 holders of rec. Feb. 18
been $241,489.
N. Y. Chic. & St. Louis, common (No. 1) 3
Mch. 1 Holders of rec. Feb. 18
5
First preferred
Jan. 1 '10. Jan. 1 '09. Jan. 1 '08.
ResourcesMch. 1 Holders of rec. Feb. 18
5
Second preferred
$22,625 Norfolk & Western, common (guar.)._ _ _
$415,725
$1,268,992
Bonds and mortgages
1K Mch. 18 Holders of rec. Feb. 28
Feb. 25 Feb. 10 to Feb. 17
Stock and bond investments:
2
North Pennsylvania (guar.)
1,194,290 Pennsylvania (quar.)
2,015,278
Public securities (market value) _ _ 1,709,674
1K Feb. 28 [holders of rec. Feb. 6
852,643 Phila. Germantown & Norristown (gilar.)4,024,001
Mch. 4 Feb. 21 to Mch. 3
Other securities (market value) __ 2,202,979
3
3,175,722 Reading Company, first preferred
4,162,197
6,604,964
Mch. 10 Holders of reo. Feb.19a
Loaned on collateral
2
Other loans
1K April 1 Holders of warr'tNo. 14
Southern Pacific, corn. (guar.) (No. 14)_
761,047 Union Pacific, common (guar.)
1,013,089
530,750
Bills purchased
23i April 1 Holders of reo. itch. la
1
160
Overdrafts
April • 1 Holders of reo. bleb. la
2
Preferred
571,675
771,176
Due from approved res've depositories 1,215,711
Street & Elec tric Railways.
Due from trust co's, banks, bankers
Melt. 15 Mob. 1 to Mch. 3
American Railways (guar.)
1K
14,220 Brooklyn Rapid Transit (quar.)
73,500
17,761
and brokers
April 1 Holders of rec. Mch. 10
1
256,441 Chicago City Railway extra
854,222
1,551,641
Specie
itch. 2 Feb. 22 to Feb. 27
4
9,110 Columbus (0.) Sty., common (guar.)... _ _
230,000
80,000
Legal tender notes & bills of nat. bks.
1K itch. 1 Holders of roe. Feb. 15
267,930 El Paso Electra Co., common (No 1).
125,488
139,586
Other assets
Mch. 15 Holders of rec. Feb. 28
2
1K Mob. 1 Holders of roe. Feb. 18
Galveston Electric Co., common
$15,322,058 $13,684,676 $7,125,763
Total
Mch. 1 Holders of rec. Feb. 18
3
Preferred
/dabfiftieslg Feb. 19 Feb. 16 to Feb. 19
Georgia Ry. & Electric, corn. (quar.)
$1,000,000 $1,000,000 $1,000,000 Grand Rapids Ry., corn.(guar.)(No. 15) 1
•
Oapital stock
Mch. 1 Holders of rec. Feb. 15
1,130,255 Kansas City By. & Light, pref. (guar.)
1,311,259
1,541,007
Surplus fund (market value)
1g Mch. 1 Feb. 20 to Mch. 1
3,628,975 Metropolitan West Side El., pref. (qtr.)._
6,956,513
9,164,334
Deposits subject to check
K Mch. 1 holders of rec. Feb. 15
250,914
178,341
302,426
Otfs. of deposit (not pref.), demand_ _
Northern Ohio Traction & Light (guar.)
K Mch. 15 Holders of rec. itch. 1
17,2001
63,737
48,522 Northern Texas Elec. Co., corn.(No. 2). _
Time ctfs. of deplpay. within 30 days
itch. 1 Holders of rec. Feb. 14
2
1,040,972J
Mch. 1 IIolders of rec. Feb. 14
3
(not pref.) _ _ _ jpay. after 30 days 1,052,557
Preferred (No. 9)
1665,017 Pensacola Electric Co., preferred
1 1,083,778
2,058,532
Duo trust companies
Mch. 1 Holders of reo. Feb. 18
3e
1 59,534 Philadelphia Company, Preferred
Due banks and bankers
2g Mch. 1 Holders of me. Feb. 10
781
1,223 Portiand(Ore.)Ry.,L.dcP.,com.(qu.)(No.3) 1
7,405
Duo savings banks, loan ass'ns, &c.
Mch. 1 holders of me. Feb. 12
Due as executor, &o., or deposits
lg itch. 1 [folders of rec. Feb.23a
Rochester Ry. & Light, pref. (quar.)
45,915 St. Joseph Ry., L., 11. & P., com.(qa.)
478,044
770,888
otherwise preferred
K itch. 1 "lowers of rec. Feb. 15
295,408 Seattle Electric Co., corn. (guar.)(No. 6) 134 April 15 Holders of rec. Mch. 10
343,566
635,394
Other liabilities
April 1 Holders of rec. Mch. 10
3
Preferred (No. 19)
$15,322,058 $13,684,676 $7,125,763 Stark Electric Co. (guar.)
April 1 Holders of rec. Mch. 25
Total
K
1907.
1908.
1909.
25 stk Mch. 10
Supplementary-For Cal. YearStock Dividend
$401,285 Susquehanna Ry., Light & Power, pref._
$446,280
$652,448
2g Mch. 1 Feb. 16 to Feb. 28
Total int. & comm. rec'd during year
22,122 Whatcom Co. Ry. & Light, pref.(No. 13) 3
164,104
bleb. 1 Holders of roo. Feb. 16
241,489
All other profits received during year_
Charged to profit and lossBanks.
103,654
175,329
61,892
Mch. 1 Holders of rec. Feb. 20
depreciation
2
of
On account
People's National (Brooklyn)(No. 1)...
69
9,274
11,954
On account of other losses
Trust Company.
171,060 Citizens (Brooklyn)
195,816
334,581
2g Mob. 1 Holders of rec. Feb. 19
Tat, credited to depositors during year
111,379
108,561
117,100
Expenses during year, exclud. taxes..
Miscellaneous.
80,000
Mob. 1 Feb. 15 to Feb. 28
Amt. of diva. declared on capital stk_
$3
Adams Express (guar.)
20,842 Amalgamated Copper (guar.)
Taxes paid during the year21,173
K Feb. 28 Holders of rec. Jan. 27
10,723,819
111
0
4,442,400
11,819,[
allowed
is
int.
which
Feb. 19 Feb. 15 to Feb. 20
Amt. deposits on
1
American Chicle, common (monthly)..
April 1 Holders of rec. Feb.28a
$3
American Express (guar.)
Mch. 31 Mch. 23 to Mob. 31
2
American Radiator, common
Mch. 31 Mch. 23 to Mob. 31
2
Common (extra)
American Smelters Secur., pref. A (guar.) 1K itch. 1 Feb. 19 to Feb. 28
Preferred B (guar.) (No. 19)
134 Mch. 1 Feb. 19 to Feb. 28
NOWWWWW
Mch. 1 Holders of rec. Feb.14a
1
American Stogie, preferred (guar.)
American Sugar ROHL,corn. & pref.(qu.) 134 April 2 Holders of rec. Mch. la
English Financial Markets-Per Cable.
2g Mob. 1 Feb. 12 to Bich. 9
American Tobacco, common (quar.)734 Mch. 1 Feb. 12 to Mob. 9
Common (extra)
The daily closing quotations for securities, &c., at London,
April 1
1
American writing Paper, preferred
Associated Merchants, common (guar.).- 1K Feb. 28 Holders of rec. Feb. 23
as reported by cable, have been as follows the past week:
Feb. 28 Holders of roe. Feb. 23
g
Common
(extra)
London.
lg Mch. 15 Holders of rec. Mob. 5
Borden's Condensed Milk, Vet.(luar.)
Fri.
Tues.
Wed. Thurs.
Mon.
Sat.
Week ending Feb. 18.
Mch. 1 Holders of rec. Feb. 15
Company
(quar.)
Butterick
24
23 15-16 24g
d 23 13-16 23 13-16 24
Mch. 31 Holders of rec. Mob- 28
Silver. Per ez
2
8116-16 Chicago Telephone (guar.)
82
82
81 15-16 82
Consols, new, 2g per cents. 82
Mch. 10 Mch. 5 to Mch. 10
2
Childs Company, common (guar.)
82 1-16 82 1-16 82
82 1-16 82 1-16 82
Melt. 10
For account
1K Melt. 10 itch. 5 to
(guar.)
Preferred
98.85
98.90
98.95
French Rentes (in Paris)_tr. 98.87g 98.92g 98.85
Mch. 15 Holders of rec. Feb.16a
Consolidated Gas of New York (quar.).. 1
78
79
77K
77
78
Amalgamated Copper Co.._ 78g
lg itch. 15 Holders of reo. Feb. 28
Match
(guar.)
Diamond
u*si
10g
10K
lOg
log
103
b Anaconda Mining Co
234 AprU 1 lIolders of reo. Feb. 28
Eastman Kodak, common (guar.)
117g
118g
118g
118g
117g
Atchison Topeka & San. Fe_118g
134 April 1 Holders of rec. Feb. 28
Preferred (guar.)
106g
106g
106
106
106
Preferred
134 Feb. 21 Feb. 9 to Feb. 21
(quar.)_.
preferred
Egan,
&
A.)
(J.
Fay
114K 114g
113g
114g
113g
Baltimore & Ohio
15
% itch. 15 [holders of rec. Feb. 25
pref.
(guar.).
Smelting,
&
Mining
Federal
94g
95g
94g
94g
94g
Preferred
General Asphalt, pref. (quar.)(No. 11)„ lg itch. 1 Holders of reo. Feb.14a
185g
185g
186g
186
186
186
Canadian Pacific
Mch. 1 Holders of reo. Feb.14a
le
Extra
1)
(No.
86g
86
87g
86g
84g
Chesapeake & Ohio
1g Mch. 1 Holders of rec. Feb. 21
General Chemical, common (quar.)
149K 150
148g
149
147g
Chicago Milwaukee & St P....148
/10 A ft AIL h15 'holders of rec. Feb. 21
(extra)
Common
42g
42
41
41K
40g
Denver dc Rio Grande
1g April 1 Holders of roe. Mch.22a
Preferred (guar.)
82
81g
81g
81g
81
Preferred
April 15 Holders of reo. Mch. 5
2
General Electric (guar.)
30
29
30g
29g
28A
29g
Erie
_
_
common..
K Mch. 1 Holders of reo. Feb. 19
Refractories,
Harbison-Walker
47
47g
46g
47
47
46g
First preferred
of reo. Feb. 3
-------Holders
1-3
f33
common
Harvester,
International
37
36g
36g
36
35g
Second preferred
e. 1
Preferred (guar.) (No. 12)
147
146
145
146g
145
146
Illinois Central
10 to Mch. 1
Feb
1
Mch.
1
(quar.)...
common
Nickel,
International
153g
153g
153
164
152
153
Louisville & Nashville
A Mob. 1 Feb. 10 to Mch. 1
Common (extra)
45
44g
45g
43
42g
Missouri Kansas & Texas_ _ _ 43
April 1
134 April 1 Feb. 24 to
International Silver, pref.(guar.)
74
75g
75g
74A
76
Preferred
April 1 Feb. 24 to April 1
(extra)
Preferred
63
64
64
64
64
Mch. 1
to
Nat. RR.of Mexico, let pref.
22
Feb.
1
Mch.
2
3)
(No.
Internat. Smelt. dr Refin. (guar.)
27g
27g
28
28
28
Second preferred
Mch. 1 [holders of reo. Feb. 18
Kings County Elec. L. & P.(qu.)(No. 40) 2
123
123
122g
123
122
N.Y.Central & IIud. River_123
reo.
of
Jan.
Holders
31
1
Mob.
ser.
15
(special)
Navigation
&
Coal
Lehigh
47
46g
46
46K
46
N. Y. Ontario & Western... 46g
3g itch. 1 Feb. 19 to Feb. 28
MacArthur Brothers, pref
104K 104K
103g
104
104
Norfolk & Western
1 Feb. 16 to Mch. 1
Mch.
(quar.)_
1K
corn.
Telephone,
State
Michigan
91g
91)4
91g
91g
91
Preferred
1 April 17 to May 2
134 May
Preferred (guar.)
140
140g
139
139g
139g
Northern Pacific.
National Biscuit, corn. (guar.) (No. 46). lg April 15 Holders of ree. bich.28a
68g
68g
683i
68
68M
68g
a Pennsylvania
28 Holders of roe. Feb.15a
Feb.
134
(guar.)
(No.
Preferred
48)
86g
87
85g
85g
83g
84g
a Reading
1K April 1 Mch. 12 to Mch. 15
National Lead, cam.(guar.)(No. 25)
47g
47g
47g
47g
a First preferred
47
1K bleb. 15 Feb. 19 to Feb. 23
Preferred (guar.)(No. 73)
55g
56g
55g
55K
53g
a Second preferred
Mch. 21 Mch. 13 to Mch. 21
lg
common
-Niles-Bement-Pond,
(guar.)..
50g
50g
47g
49
47g
49g
Rock Island
April 15 Holders of rec. Mch. 31
1
Nova Scotia Steel & Coal. corn. (quar,)
129
129
127g
128g
Southern Pacific
127
129g
15 Holders of reo. Mch. 31
April
2
(quar.)
Preferred
29g
29g
29
29
28K
Southern Railway
1K Feb. 25 Holders of reo. Jan. 20
People's Gas Light & Coke (guar.)
67g
86g
Preferred
66
613g
65g
Mch. 15 'holders of rec. Feb. 25
(guar.)
Electric
Philadelphia
191A
189g
190g
Pacific
188g
ism 189g
Union
stk Mch. 18 Holders of reo. Feb. 25
Stock Dividend
104g
103g
104K 105
104
Preferred
Pittsburgh Brewing, common (quar.).-- 134 Feb. 21 Feb. 12 to Feb. 20
82g
82g
82g
so/ sag
81
U.S. Steel Corporation
134 Feb. 21 Feb. 12 to Feb. 20
Preferred
(guar.)
123
124
123
122g
122g
122g
Preferred
134 Feb. 23 Feb. 3 to Feb. 22
Pressed Steel Car. pref. (quay.)(No. 44)
22g
22)1
21g
21g
21g
Wabash
April 15 Iloiders of reo. April la
2
Quaker Oats, common (guar.)
49
47 di
49g
48g
48
Preferred
Common
34 April 15 Holders of reo. April la
(extra)
75
75
74A
75
75g
Extended 45
Feb. 28 Holders of rec. Feb.15a
lg
(quar.)
Preferred
lg May 31 Holders of reo. May 2a
Preferred (guar.)
a Price per share. a £ sterling.
Date.
Jan. 31 1910
Nov. 27 1908
Sur.
Capital.
Prof. Deposits. Resouces.
$3,000,000 $5,541,479 $20,230,001 $28,807,855
5,332,105 15,799,438 24,191,310
3,000,000
Wouttarfigommercialgnglisix tUTS
n
FEB. 19 1910.1
THE CHRONICLE
Per
Cent.
Name of Company.
Miscellaneous (Concluded).
Quincy Mining (guar.)
814
Republic Iron & Steel, pref. (guar.)
1%
Sloss-Sheffield Steel & Iron, coin. (quar.) I
Standard'Oil (guar.)
815
United Cigar Mfrs., preferred (guar.)- - - 134
Untied Dry Goods Cos., pref. (guar.)
1%
3
United Gas Improvement (stock div.)_
10 stk
U.S. Cast Iron Pipe & Fdy., pref. (quar.) 13%
U. S. Steel Corp., corn. (quar.)(No. 25)_
1
Common (extra)
114
Preferred (quar.) (No. 35)
13%
Woman's Hotel (guar.)(No. 5)
13%
When
Payable.
Mch.
April
Mch.
Mch.
Mch.
Mch.
Mch.
Melt.
Sich.
Mch.
Feb.
Mch.
Books Closed.
Days Inclusive.
21 Feb. 27 to Mch. 6
I Holders of rec. Mch. 16
1 Holders of rec. Feb.16a
15 Holders of rec. Feb. 18
1 Holders of rec. Feb. 24
1 Holders of rec. Feb. 25
1 Ilolders of rec. Feb. 15
1 Holders of rec. Fel).158
April 18
30 Mch. 16 to
April 18
30 Mch. 16 to
28 Feb. 4 to Feb. 28
15 Holders of rec. Mch. 8
a Transfer books not closed.
b Payable in stock. d Correction.
of accumulated dividends. f Payable in common stock.
e On account
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.
12 Hamilton Fire Ins. Co
80
13 Nassau FireIn.Co.of Bklyn_157
5 Nassau Nat. 13k. of Bklyn_ _246
1 N. Y. Law Institute
$151
100 Phoenix Consol. Copper Co.
"$12 per share paid in"___93 lot
25 Lawyers'Title Ins.& Tr. Co_ 296
1
1.000 E. R.Squibb & Sons, coin_
12 Nassau Tr Co. of Ilklyn_
3 Atlas Port. Cement Co.,com.161
25 Trow Directory Printing &
Bookbinding Co
293%
50 Niagara Fire Ins. Co
300
50 Bank of Manhattan Co
3263%
10 Rye National Bank
200
15,000 Vacuum Secur.Co., $1 each $100
17,300 Safety Tire Co., $ 5 each.-J lot
Stocks.
10 Nat. Reserve Bank
128
Bonds.
$1,000 City of N. Y. 45, May 1957,
tax-exempt, M.& N
100 & hit.
$5,000 N. Y.& E. River Gas Co. 1st
Is, 1944, J. & J
1037
4 Sc int.
$10,000 Olcott Coal & Iron Co. lstl
58, July 1908 coupons attached_ 192500
40 Olcott Coal & Iron Co
$15,000 Leeds & Catlin Co. 1st s. 1.
6s, 1932, July 1908 coupons at$100 lot
tached
$10,000 City of N. Y.9s &stet bonds,
Nov. 11918, M. & N
993% & int.
$16,000 Buff. & Susq. Ry. Co. 1st
44s, 1953, M & N
46 & int.
National Banks.—The following information regarding
national banks is from the office of tile Comptroller of the
Currency, Treasury Department:
APPLICATIONS TO CONVERT INTO NATIONAL BANKS
APPROVED.
Bank of Putnam, Cookeville, Tenn., into the "Cookeville National
Bank." Capital stock, $50,000.
The Union Savings Bank of Columbia, S. C., into "The Union National
Bank of Columbia." Capital, $100,000.
NATIONAL BANKS ORGANIZED.
January 26 to February 12.
9,645—The People's National Bank of Fairmont, W. Va. Capital, $150,000. Geo. M. Jacobs, Pres.; William S. Haymond and II. J.
Hartley, Vice-Presidents; J. M. Brownfield, Cashier. Conversion
of the People's Bank of Fairmont.
9,646—The United States National Bank of Vancouver, Wash. Capital,
$100,000. J. M. Langsdorf, Pres.; Lowell M. Hidden, Vice-Pres.;
J. S. G. Langsdorf.
, Cashier.
9,647—The Hop Bottom National Bank, Hop Bottom, Pa. Capital, $25,000. E. M. Tiffany, Pres.; Milton W. Palmer, Vice-Pres.; L. A.
Lewis, Cashier.
9,648—The First National Bank of Sebastopol, Cal. Capital, $100,000.
aux
Walter W. Monroe, Pres.; George P. MeNear, Vice-l'res.; Worth M.
Fitzsimmons, Asst. Cashier. Conversion of the Bank of Sebastopol.
9,649—The Farmers' National Bank of Aledo. Ill. Capital, $65,000.
A. G. Bridgford, Pres.; Joseph W. McRoberts, Vice-Pres.; G. L.
Candor, Cashier; F. E. Cabcen, Assistant Cashier.
9,650—The First National Bank of Aiken, S. C. Capital, $50,000. T. G.
Croft, Pres.; B. Sherwood Dunn, Vice-Pres.; R. L. Gunter, Cashier.
9.651—The Broadway National Bank of Chelsea, Mass. Capital, $100,000.
Herbert E. Davidson, President. Willard Howland, Cashier.
9,652—The National Copper Bank of Salt Lake City, Utah. Capital,$500,000; W. W. Armstrong, Pres.; John Darn and W. V. Rice, VicePresidents; Eugene Giles, Cashier.
9.653—The First National Bank of Morrill, Neb. Capital, $25,000. H. S.
Clarke Jr., Pres.; C. IV. Scoville, Vice-Pres.; L. M. Eastman, Cashier.
9,654—The Commercial National Bank of Ithaca, Mich. Capital, $30,000.
James B. Crawford, Vice-Pres.; Herbert J. Crawford, Cashier; Lynn
T. Miller, Assistant Cashier. Conversion of the Commercial State
Bank.
9,655—The Bank of California, National Association, San Francisco, Cal.
Capital, $4,000,000. F. B. Anderson. Pres.; Chas. R. Bishop, VicePres.; I. F. Moulton, Vice-Pres. and Cashier; S. H. Daniels, Wm.
R. Pants, W. 0. Cullen and A. L. Black, Asst. Cashiers. Conversion of the Bank of California.
9,656—The New Tripoli National Bank, New Tripoli, Pa. Capital, $25,000. Phaon W. Bittner, Pres.; C. D. Werley and Elmer J. Bachman, Vice-Pres.'s; Charles F. Bretney, Cashier,
9,657—The First National Bank of Deland, Fla. Capital, $50,000. J. H.
Tatum, Pres.; J. P. Mace and B. E. Prevatt, Vice-Press; W. E.
Sullivan, Cashier.
9,658—The Exchange National Bank of Tulsa; Okla. Capital, $150,000.
P. J. White, Pres.; M. Hughes, Cashier.
9,659—The Cumberland Valley National Bank of Nashville, Tenn. Capital
$300,000. 3. N. Sperry, Pres.; R. E. Donnell and L. Jonas, VicePres.'s; T. G. Garrett. Cashier.
CHANGE OF CORPORATE TITLE.
1,250—The Mechanics' National Bank of the City of New York, N. Y., into
"The Mechanics' & Metals National Bank of the City of New York."
41,783—The McCartney National Bank of Fort Howard, Wis., to "The McCartney National Bank of Green Bay," present name of city.
CHANGE OF PLACE OF LOCATION & TITLE OF NATIONAL BANK
9,563—The First National Bank of Arnettsville, Ohio, to '"l'he First, Na
tional Bank of Pitsburg," to conform to change in name of town.
CLEARING-HOUSE RETURNS.
Canadian Bank Clearings.—The clearings for the week ending Feb. 12 at Canadian cities, in comparison with the same
week of 1909, show an increase in the aggregate of 22.4%.
Week ending February 12.
Clearings as
1910.
Canada—
Montreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton_ _ -St. John
London
Calgary
Victoria _ _ _ _
Edmonton
Regina
Total Canada_
1909.
32,408,925
36,641,395
23,154,920
28,827,974
10,305,360
13,412.119
4,006,565
7,421.237
2,938,176
3,186,968
2,284,393
1,987,251
1,685,307
1,714.349
1,313,862
1,455,999
1,167,177
1,5:19,388
1,051,399
1,274.459
1,418,605
2,207,893
1,033.060
1,540,084
819,447
1,127,183
859,780 Not Included
102.336,299
Inc. or
Dec.
1908.
1907.
+13.1
+24.5
+30.1
+85.2
+8.4
—13.0
+1.7
+10.8
+31.9
+21.2
+55.6
+49.1
+37.6
n total
24,024,759
18,253,437
8,592,191
3.250,206
2,144.015
1,773,159
1,611,636
1,335,012
1,129,010
941,303
892,573
1,013,581
666,806
22,645,246
21,325,668
8,866,664
2,804,744
2,362,653
1,313,501
1,698,521
1,515,088
1,181,955
1,069,800
1,201,261
942,704
755,987
83,587,196 +22.4
65,627,688
67,681,792
483
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 of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given.
•We omit two ciphers (00) in all ewes.
Banks.
ins omitted.
Capital. Surplus.
Loans.
Average.
Specie. Legals. Deposits. ReAverage. Average. Average. eve
$
$
$
$
s
$
%
Bank of N. Y__
2.000,0 3,431,8 18,601,0 2,813,0 1,169,0 15,911,0 25.0
Manhattan Co_
2,050.0 4,126,6 30,300,0 8,162,0 1,656,0 35,550,0 27.6
Merchants' ____
2,000,0 1,708,9 19,243,0 3,593,0 1,365,0 19,617.0 25.2
Mech. & Metals 6,000,0 7,763,9 53,787,8 11,826,0 1,266,8 52,649,8 24.8
America
1,500,0 5,894,9 24,979,0 4,484,6 1,838,3 25,177,8 25.1
Phenix
1,000,0
7,515,0 1,221.0
691,3
385,0
6,462.0 25.4
City
25,000,0 29,756,9 164,170,9 48,680;3 6,275.0 166,135,0 33.1
Chemical
3,000,0 6,250,4 28,599,4 4,820,1 2,032,5 26,661,2 25.8
Merchants' Ex_
600,0
546,4
6,437,2 1,410,6
158,0
6,390.7 24.5
Gallatin
1,000,0 2,493,3
8,216,7 1,203,5
418,5
6,309,7 25.7
Butch. & Drov.
300,0
149,1
2,120,9
452,8
79,1
2,196,2 24.2
Greenwich
500,0
777,4
7,508,3 1,884,8
200,0
8,466,0 24.6
American Exch. 5,000,0 5,234,9 30,032,0 4,296,6 2,275,4 24,062,5 27.4
Commerce
25,000,0 15,804,2 143,380,5 23,804,8 7,058,3 120,636,1 25.6
Mercantile
3,000.0 2,647,2 14,529,6 1.605,6 1,299,1
11,174,3 26.0
Pacific
500,0
897,6
4,039,0
422,8
448,6
3,660,0 23.8
Chatham
450,0 1,023,5
7,048,8
901,2 1,044,6
7,516,4 25.8
People's
200,0
477,5
1,971,4
452,2
133,9
2,546,5 23.0
Hanover
3,000,0 11.417,0 63,468,4 11,936,9 6,774,3 71,929,0 26.0
Citizens' Central 2,550,0 1,534,6 21,572,6 5,042,2
324,9 20,984,9 25.8
Nassau
500,0
484,8
6,817,4
904,5 1,074,7
7,692,8 25.7
Market& Fult'n
1,000,0 1,679,2
8,378,5 1,118,7
870.3
8.095.5 24.5
Metropolitan
2,000,0 1,392,9 11,953,6 3,394,3
228,4 12,589,5 28.7
Corn Exchange 3,000,0 5,254,1 42,946,0 7,601,0 4,473.0 50.002,0 24.1
Imp. & Traders' 1,500,0 7,461,6 25,289,0 3,531,0 2,054,0 22,579,0 24.7
Park
3,000,0 9,947,1 83,379,0 22,311,0 1.507,0 93,711,0 25.4
East River
100,7
250,0
1,613,5
334,5
93,6
1,807,0 23.6
Fourth
3,000,0 3,493,1 23,138,0 4,360.0 2,300.0 25,680.0 25.9
Second
1,000,0 1,945,5 12,611.0 2,602,0
497,0 12,418,0 25.0
First
19.671,0
10,000.0
104,976,5 21,945,4 2.018,4 94,532,0 25.3
Irving Exch.,.... 2,000.0 1.555,5 22,305,8 4,976,7 1,312,7 24,126,6 26.0
Bowery
250,0
802,0
3,467,0
867,0
59,0
3,685.0 25.1
N. Y. County
500,0 1,581,1
7,256,6 1,719,0
859,5
7,982,5 32.9
German-Amer _
4,116,9
209,4
667,5
849,5
750,0
4,075,9 25.9
Chase
5,000,0 7,028,4 74,022.3 21,341,2 4,757,1 85,986,1 30.3
Fifth Avenue
100,0 2,069,9 13,347,2 2,712,9 1,174,8 15,201,0 25.5
German Exch
200,0
3,696,1
894,0
628,7
430,9
4,150,9 25.5
Germania
200.0 1,006,5
4,607,0
521,2
803,1
5,261.2 25.1
Lincoln
1,000,0 1,460,2 15,243,8 3,497,3
674,4 16,325,0 25.5
Garfield
1,000,0 1,150,7
7,933,6 1,856,4
340,2
8,047,2 27.3
Fifth
250,0
484,0
3,320,6
610,9
324,2
3,521,3 26.5
Metropolis
1,000.0 2,020,2 11,228,9
813,1 1,929.5 11,054,6 24.5
'West Side
200.0 1,139,0
4,201,0 1,105,0
247,0
4,733,0 28.5
Seaboard
1,000,0 1,838,0 19,136,0 4,447,0 1,238,0 21,998,0 25.7
Liberty
1,000,0 2,654,6 17,765,8 3,419,8
916,1
17,449,6 24.8
N.Y.Prod. Ex. 1,000.0
705.4
7,496,9 2,184,6
228,8
9.001,3 26.8
State
1,000,0
863,0 13,962,0 4,037,0
288,0 17,223,0 25.1
14th Street.. _ _ _
5,728,1
334,5
1,000,0
1,056,1
638.0
6,550,5 25.8
Coal & Iron_ __. 1.000,0
5,908,0
335,6
935,0
583,0
5,901,0 25.7
Totals, average 128,350,0 182,627,5 1223,367,6 264,976,7 68,050,5 1235,416,6 28.9
Actual figures Feb. II
1210,350,5 265,899,6 68,955,9 1223,193,1 27.4
On the basis of averages, circulation amounted to $50,510,000 and United States
deposits (Included in deposits) to $1,704.300: actual figures February 11, circulation, $50,235,500; United States deposits. $1,733,000.
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 the rest of the State, as per the
following:
STATE BANKS AND TRUST COMPANIES.
Week ended Feb. 11.
State Banks
Trust Cos.
Slate Banks
Trust Cos.
outside of
in
in
outside of
Greater N. Y. Greater N. F. Greater N. F. Greater N. Y.
Capital as of Nov.16
26,075,000
63,425,000
$
8,758,000
7,975,000
Surplus as of Nov. 16_ _ _ _
38.586,700
187,632.400
10,719,766
10,652,958
Loans and investments_
Change from last week_
295,285,800 1,063,018,700
—19,100 —5,270,400
90,180,900
+285,900
133,805,500
+70,200
Specie
Change from last week_
48.824.200
—2.647.700
120.828,800
+2,040,500
Legal-tenders & bk. notes
Change from last week_
24,384,800
+267,100
12,409,000
+98,400
Deposits
Change from last week_
340,348,100 1,116,732,100
—1,849,100 —15,424,000
95,174,200
+323,300
141,206,600
—281,400
Reserve on deposits
Change from last week_
94,001,300
—1,689,900
138,972,600
+2,102,000
19,024,400
—364,400
18,537,800
—415,100
P. C. reserve to deposit& _
Percentage last week
28.1%
28.4%
16.2%
15,9%
20.6%
21,1%
13.8%
14.0%
+ Increase over last week. — Decrease from last week.
Note.—"Surplus" includes all undivided profits. 'Reserve on deposits" includes, for both trust companies and State banks, not only cash items, but amount
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, exclualve 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, but In this case the reserve is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
—Trust COS.—
—Slate Banks—
Reserve Required for Trust Companies
Total
Total
Of
Of
and Mate Banks.
Reserve
which Reserve
which
Location—
Required in Cash.Rsquired. in Cash.
Manhattan Borough
15%
15%
15%
25%
Brooklyn Borough(wIthout branches in Manhat )_I5%
10%
20%
10%
Other Boroughs(without branches in Manhattan).15%
10%
15%
74%
15%
Any Borough with branches In Manhattan
25%
15%
15%
Elsewhere in State
6%
10%
5%
15%
WoL. Lxxxx.
THE CHRONICLE
484
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corresponding item in the two statements, thus affording an aggregate for the whole of the banks and trust companies in the
Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
We omit two ciphers(00)in all these figures.
Capital
and
Surplus.
Banks.
Loans.
Specie.
23,481,0
23,613,0
22,373,0
22,456,0
Boston.
Jan. 22.
Jan. 29_ _
Feb. 5_
Feb. 11
40.300,0
40,300.0
40,300.0
40,300,0
192.567,0
194,978,0
194,599,0
194,298,0
Jan. 22_
Jan. 29 _
Feb. 5_
Feb. 11_ _
56.315,0
56,315.0
56,315,0
56,315,0
259.575,0
256.484.0
255,917,0
258,465,0
Legn.s. Deposits. a Circulation
$
4.628.0
4,366,0
4,397,0
4,162,0
68,167,0
70,039,0
71,864,0
70,604,0
$
128,350,000
128,350,000
73,550,000 201,900,000
Capital_ _ /Nat. banks
1 Jan. 31. J
182.627,500
176,431,300 359,058,800
Surplus_ JState banksi 182,627,500
1 Nov. 16.
Loans and Investments 1,210,350,500 1,223,367,600 1,155,938,400 2,379,306,000
Change from last week -21,684,000 -9,321,000
-5,353,200 -14,674,200
1,223,193,100 1,235,416,600 a1,116,144,000 2,351,560,600
Deposits
Change from last week -22,516,200 -16.303,900
-3,653,400 -19,957,300
Specie
Change from last week
265,899,600
-280,700
264,976,700
-4,728,900
127,267,700
+2,244,800
392,244,400
-2,484,100
Legal-tenders
Change from last week
68.955,900
+240,000
68,050,500
-1,896,900
b20,959,800
+585,000
89,010,300
-1,311,900
Aggr'te money holdings
Change from last week
334,855,500
-20,700
333,027,200
-6,625,800
r148,227,500
+2,829,800
481,254.700
-3,796,000
23,515,700
+349,700
23,515,700
+349,700
171,743,200
+3,179,500
504,770,400
-3.446,300
Money on deposit with
other bks. & trust cos.
Change from last week
Total reserve
Change from last week
334,855,500
-20,700
333,027,200
-6,625,800
27.40%
26.91%
26.98%
27.16%
29,057,225
Surplus reserve
17.7%
17.4%
24,173,050
+ Increase over last week. -Decrease from last week.
a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City"; with this Item Included
deposits amounted to $1,229^.435,300. a ecrease of $14,686.300 from 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 514.989,700 and trust .companles $133.237,800.
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 Hodse compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPAN:ES IN
GREATER NEW YORK.
We omit two ciphers in all thesefigures.
Loans and
Investments.
Deposits.
2.381.734.9
2,400,207,6
2,401,557,5
2 385.293.8
2,356,308,2
2.358,677,8
2.369,439,3
2,393,980,2
2,379,306,0
2.306,845,1
2,327,891,3
2.326,424.3
2,326.589.9
2,318,525.2
2,325,319,8
2,345.718,1
2,371,517,9
2,351,560,6
Tot. Money En ti r es.
posit.
Holdings. on
"
--
Specie.
Legals.
352,494,6
356,082,2
354,160,6
354,561,9
367,916,2
381,965,4
392,381,1
394,728,5
392,244,4
93,113,6
91,086.3
89.809,7
91,815,0
96.164.1
96,029,2
94,985,3
90,322,2
89.010,3
445,60 1
1.
447,
0.3
n6,9
/. 080,3
77,994,6
487,366.4
485,050,7
481,254,7
467,258,3
468.252,6
468,86' I
468,123,1
484,929,8
498,272.7.
507.426,5
508,216.7
504,770,4
Reports of Non-Meml.er Banks.-The folloWing is the
statement of condition of the nop-member banks for the
week ending Feb. 11, based on average daily results:
We omit two ciphers(00)in all thesefigures.
Banks.
Capita/.
214,234.1
183,243,2
200,261,8
163,855,3
304.544,0 16,751,0
300,336,0 16,759,0
301,081,0 16,762,0
299,698,0 16,738,0
163,351,5
147,455,9
158,535,7
119,848,6
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Feb. 12; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For week.
1
Dry goods
General merchandise
Total
Since January 1.
Dry goods
General merchandise
Total 6 weeks
1910.
1909.
$2,462,203
15,208,735
Surplus.
Loans.
Disc'ts
and
Investments.
I Legal
I Tender
Specie. and
Bank
Notes.
Deposit with
Clearing
Agent.
N. Y. City
Boroughs of
Man.& Brx.
217,4 1,158,0 139,0
51,0
Wash.Hgts. 100,0
94,0
151,8 1,375,4
18,1
183,9
Century .. _ _
43,2
200,0
687,9
400,0
Colonial __ _
311,0 5,264,3 785,6 428,4
Columbia _ _
300,0
458,9 6,205,0 586,0 544,0
658,0
291,9
68,1
159,3
965,9
98,7
Fidelity - • 200,0
239,9
586,9 3,509,1
15,1 523,0
Jefferson__ _
500,0
38,8
438,4
250,0
287,6 2,539,2 489,4
Mt. 'Morris_
517,6
Mutual _ _ _
200,0
328,5 3,531,2
30,0 631,1
100,0
412,4 3,722,0 326,0 332,0 1,006,0
Plaza
236,7
53,2
200,0
23rd Ward_
103,9 1,747,3 171,3
137,7
915,1 8,219,9 1,118.9 1,000,0
Union Ex.N 1,000,0
316,2
100,0
446,0 4,140,3
44,6 766,9
Yorkville - _
246,0
243,5 2,267,0 256,0
S5,0
New Neth'd 200,0
86,0
27,1
148,3 1,185,3 234,3
Batt.Pk.Nat 200,0
127,1
28,1
Aetna Nat.. 300,0
311,6 1,910,1 405,6
Borough o
Brooklyn.
331,0
Broadway _
200,0
541,1 3,185,8
25,4 426,1
722,8
Mfrs.' Nat _
797,3 5,623,7 432,7 275,9
252,0
Mechanics'.. 1,000,0
934,7 11,073,4 321,5 1,219,0 1,294,6
Nassau Nat. 750,0
977,3 6,696,0 561,0 276,0 1,039,0
604,0
Nat'l City_
300,0
586,8 4,119,0 102,0 570,0
North Side_
189,8
200,0
144,0 1,808,8 131,9 111,4
First Nat
351,0
300,0
574,4 3,353,0 35.0,0
91,0
Jersey City.
First Nat_ _
400,0 1,231,7 4,729,3 305,8 427,1 1;599,3
Hud.Co.Nat 250,0
742,3 2,707,0 144,5
222,0
44,4
200,0
Third Nat _ _
388,2 1,837,3
474,0
63,9 117,7
Hoboken.
220,0
First Nat_ _
626,1 2,480,6 100,4
119,6
15,7
Second Nat. 125,0
235,3 2,656,1
76,7
87,8
80,1
Other
Net
Banks. Deposits.
&c.
1907.
1908.
$4,022,901
13,175,038
$3,114,551
7,687,951
$4,522,392
11,913,798
$17,670,938 $17,197,939 $10,802,502 $10,436,190
521,148,298 822,299,500 $18,451,953 $24,351,218 ,
89,092,866 70,878,999 45,172,632 74,823,230
$110,241,164 $93,178,499 $63,624,585 $99,174,448
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. 12 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR TILE WEEK.
1910.
Percentage to deposits
requiring reserve __ _ _
Percentage last week
Dec. 18....
Dec. 24...
Dec. 31...
Jan. 8__
Jan. 15.
Jan. 22..
Jan. 29..
Feb. 5._
Feb. 11_
7,059,0
7,053,0
7,043,0
7,044,0
a Including Government deposits and the item "due to other banks." At
Clear.-House Clear.-House State Banks & Total of all
Boston Government deposits amounted to $3,021,000 on February 11, against
Trust Cos. not Banks& Trust
Banks.
Banks.
February 5.
Average. in C.-H. Aver. Cos. Average. $3,015,000 on
ActualFigures
Week ending Feb. 11.
Week
Ended.
249,085,0
244,109,0
247,620,0
239,640,0
Clearings.
I
1000.
1908.
1907.
For the week
Previously reported
$13,412,736 $11,090,451 $14,315,918 $11,637,951
63,572,264 64,202,376 87,949,314 63,298,848
Total 6 weeks
$76.985.000 $75,292,827 $102,265,232 $74,936,799
The following table shows the exports and imports of
specie at the port of New York for the week ending Feb. 12
and since Jan. 1 1910, and for the corresponding periods in
1909 and 1908:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Imrorts.
Gold.
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Since.lan..1
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
$4,590
406,830
3.000,976
500
47,013
11,160
89,845
6,282
57,585
38,502
324,209
120,836
$4,687 $3,127,263
3,382,000 11,475,125
36,500
619,900
$540,300
136,583
144,687
$952,552
795,540
5,870,682
52.605
52,148
574
5,995
52,606
188
3,685
9,251
247,59(1
177,786
111,073
$61,320
104,203
32,184
$552,079
595,757
6;17,117
$125,787
$580,252 $4,651,983
51,300
260,050
500
4,697
9,091
Total 1910
Total 1909
Total 1908
SinceJan.l.
386,000
$4,687
Total 1910
Total 1909
Total 1908
Week.
$636,249 $4,921,624
756,194 5,931,523
1,089,261 5,171,293
Of the above imports for the week in 1910, $44,268
were American gold coin and $2,419 American silver coin.
Of the exports during the same time, $4,200 were American gold coin and $4,200 were American silver coin.
jijanking and rtuanzial.
1'h:6
198,1
136,3
77,0
5,2
25-1,8
15,0
27,6
1,166,0
1,609,8
6,749,
7,393,0
1,022.5
3,473,1
3,374,7
4,245.7
4,820,0
2,023,1
8,227,3
5,340,6
2,465,0
1,195,1
1,761,2
259,6 3,663,5
112.1 6,053,7
250,0 14,009,4
6,659,0
168:6 5,211,0
100,0 2,067,8
38,0 3,065,0
745,0 6,191,8
140,7 2,433,7
16,0 2,124,2
82,1
165,5
2,046,9
2,882,1
Tot. Feb. 11 8,447,0 12,891,4 98,010,0 7,365,5 8,415,0 12,150,4 2,970,9 111274.3
Tot. Feb. 5 8,447,0 12,968.9 98,167,8 7,211,9 7,880,5 13,043,8 2,978,3 111645,3
Tot. Tan. 29 8,447,0 12,968,9 98,394,8 7.443,6 8,271,5 11,242,0 2,662,0 110974,1
INVESTMENT SECURITIES
Our eight-page circular No. 887 describes several Issues of sound
Investment bonds yielding about 4H to 534%.
Spencer Trask & Co.
WILLIAM AND PINE STS..
-
-
NEW YORK
Branch offices: Chicago. ILL.. Boston. Mass., Albany, N. V.
MOFFAT & WHITE
BANKERS
Members New York Stock Exchange
5 NASSAU STREET.
NEW YORK
THE ROOKERY
CHICAGO
BANKING and EXCHANGE of every description In connection with
EXPORTS & IMPORTS
International Banking Corporation
60 Wall St.. New York.
CAPITAL & SURPLUS. $6.500,000
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL BANK
Boston and Philadelphia Banks.-Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
Organized under the Laws of N. Y. State.
60 Wall St., New York
Accounts Invited. Interest paid on Term Deposits.
THOMAS H. HUIIBARD President.
FEB.19 1910.1
THE CHRONICLE
anktre
azettz,
Wall Street, Friday Night, Feb. 18 1910.
The Money Market and Financial Situation.-The advancing tendency of prices, which was mentioned as a new
development in the security markets last week, has continued with some slight interruptions. It is reported that
• purchases for foreign account have been more conspicuous
than of late and there has undoubtedly been more or less
buying for investment here; but it seems probable that such
purchases have not been very extensive and that the market
continues to be largely controlled by professional traders
operating on the floor of the Stock Exchange.
The Government report of our foreign trade for the month
of January, given out on Thursday, attracted attention,
owing to its unfavorable comparison with reports for the
corresponding period in recent years.
In view of this statement the resumption of gold exports
is in no sense surprising and $1,500,000 has been engaged
this week for shipment to Argentina.
On the other hand latest reports of railway earnings show
that a large traffic is being handled and suggest that recent
statements_ to the effect that business activity is waning
were either erroneous or greatly exaggerated. Moreover,
the bank clearings for the country show an increase of 21.4%,
and it is reported to-day that large orders for railway equipment, including locomotives, have recently been placed.
The bank statement at the close of last week showed a
surplus of over $29,000,000 and the money, market has
continued easy.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 23 to 3%. To-day's rates on call were 23@3%.Commercial paper quoted at 43.@432% for 60 to 90-day endorsements 4%@43
/
4% for prime 4 to 6 months' single names and
5@54% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £749,431 and the percentage
of reserve to liabilities was 53.04, against 51.69 last week.
The rate of discount remains unchanged at 3%, as fixed
Feb. 10. The Bank of France shows a decrease of 1,425,000
francs gold and 1,550,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
I
1910.
' Averages for
week ending
' Feb. 11.
Differences
from
previous week.
1909.
Averages for
week ending
Feb. 13.
1908.
Averages for
week ending
Feb. 15.
$
$
126,350.000 124,350,000
' 128,350,000
Capital
165,447,000 159,561,100
Surplus
182,627,500
Loans and discounts__ 1,223,367,600 Dec. 9,321,000 1,326,315,400 1,135,248,200
66,723,500
48,932,300
266,800
50,510,000 Dec.
Circulation
Net deposits
1,235,416,600 Dec. 16,303,900 1,378,413,600 1,132,309,100
59,495,300
3,210,100
U. S. dep. (Incl. above)
1,704,300 Inc.
30,100
264,976,700 Dec. 4,728,900 273,893,100 253,424,200
Specie
60,503,300
80,208,100
Legal tenders
68.050,500 Dec. 1,896,900
Reserve held
'25% of deposits
Surplus reserve
Surplus excl. U. S. dep.
I
333,027,200 Dec. 6,625,800
308,854,150 Dec. 4,075,975
354,101,200
344,603,400
313,927,500
283,077,275
24,173,050 Dec. 2,549,825
9,497,800
30,850,225
24,599,125 Dec. 2,542,300
10,300,325
45,724,050
Note.-The Clearing House now issues a'statement weekly show ng the actual
condition of the banks on Saturday morning as well as the above averages. These
figures, together with the returns of separate banks, also the summary issued by
the State Banking Department showing the condition of State banks and trust companies not reporting to the Clearing House, appear on the second page preceding.
Foreign Exchange.-Discount rates abroad have tended
upwards this week, in spite of better bank statements:* Foreign exchange here, after having remained inactive at abnormally low levels, has now advanced sharply.
To-day's (Friday's) nominal rates for sterling exchange
were 4 85 for sixty day and 4 873' for sight. To-day's
actual rates for sterling exchange were 4 8440@4 8450 for
sixty days, 4 8640@4 8645 for cheques and 4 8660@4 8670
for cables. Commercial on banks 4 83%@4 843.' and docu4@4 84%. Cotton for payment
ments for payment 4 833
4 833.()4 83% and grain for payment 4 84@4 843%.
To-day's (Friday's) actual rates for Paris bankers' francs
/
s for long and 5 173/ less 1-32
were 5 195% less 1-1605 193
()5 17% for short. Germany bankers' marks were 94%@
94 13-16 for long and 95% less 1-32 @ 95% for short. Amsterdam bankers' guilders were 40 06@40 08 for short.
Exchange at Paris on London, 25f. 173%c.; week's range,
4c. high and 25f. 173%c. low.
25f. 183
Exchange at Berlin on London, 20m. 45 2pf.; week's
range, 20in. 473pf.. high and 20m. 453%pf. low.
The range of foreign exchange for the week follows:
Sixty Days
Cheques.
Cables.
Sterling, Actual4 84%
4 86%
4 8680
High kr the week
4 845
4 86
4 8630
Low for the wee!'
Paris Bankers' Francs-18%
5 165i less 3-32 t 163'
High for the week
5 19N less 1-1.6 5 173 lees 1-16 5 174 less 1-3i!
Low for :he week
(Jemmy Bankers' Marks4 13-16
95% less 1-16
High for th. week
953t
95 1-32
95%
Low for the week
(D:1!dcr
Amsterdam D nker,'
4040%
40 3-16
High for the week
3_ 1 --16
40 1-16
40
Low for the week
The following are the rates for domestic exchange' at the
undermentioned cities at the close of the week: Chicago, 15c.
per $1,000 discount. Boston, 100. per $1,000 discount.
St. Louis, 10c. per $1,000 premium bid; 20c. per $1,000
premium asked. New Orleans, commercial, 25c. per $1,000
discount; bank, $1 per $1,000 premium. St. Paul, 40c. per
$1,000 premium. San Francisco, $1 25 per $1,000 pretniutn.
485
Savannah, buying, 75c. per $1,000 discount; selling, 75c.
per $1,000 premium. Montreal, 313%c. per $1,000 premium.
State and Railroad Bonds.-No sales of State bonds have
been reported at the Board this week.
But for unusual activity in two or three issues,the market
for railroad and industrial bonds would have been exceptionally dull and narrow.
American Tobacco 4s have been the conspicuous feature,
advancing from 76% to 853
4, and subsequently losing 3
points of the advance. No cause for the movement is known
unless it be based on the expectation that the impending
Supreme Court decision will result in these bonds being
redeemed at par. At the same time the 6s have declined
over a point. Atlantic Coast Line-L. & N. coll. 4s, Erie
cony. 4s, Series A, and Interboro.-Met. 4%s have been
active and advaneed 2 points or more. Wabash ref. & ext.
4s are one point higher. Other changes are fractional.
United States Bonds.-Sales of Government bonds at the
Board are limtEd to $10,000 2s reg., 1930, at 101%. The
following are the daily quotations; for yearly range see third
page following.
;
, Interest
1 Periods
28, 1930
registered Q-Jan
2s, 1930
coupon Q-Jan
3s, 1908-18
registered Q-Feb
3s, 1908-18
coupon Q-Feb
4s, 1925
registered Q-Feb
4s, 1925
coupon Q-Feb
2s, 1936_Panama Canal regis Q-Feb
2s, 1938_Panama Canal regls Q-Nov
1
Feb.
12
H
0
L
I
D
A
Y
Feb.
14
Feb.
15
Feb. Feb.
16 j 17
*100% 1015- *100%
*100% *100% *100%
*1024 *1023 5102%
*102 *102 *102
*1143 *1143. •1143
*1145 *1145 *iI43
*100 *100 *100
*100 *100 *100
Feb.
18
100% *100%
100% *100%
102% *102%
*102% •1025
*1143. *1144
1143 *11434
100 *100
100 *100
* This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.-Except for a reactionary tendency on Tuesday and some irregularity to-day,
the stock market has been strong throughout the week and
closing prices are, for the active list, generally from 2 to 6
points higher than last week. There has been some investment buying, including that for foreign account, but a large
proportion of the business reported continues to be largely
of a professional character.
Reading has been the conspicuous feature. Nearly 227,000
shares were tradell in on Wednesday and it advanced within
the week 115% points to a new high figure for the year
Interboro-Metropolitan has also been more active than usual
and the preferred moved up nearly 8 points. Union Pacific
sold 75% points higher to-day than on Monday; St. Paul 43
4
points, and North West, Missouri Kansas & Texas, ChesaBrook!
n
and
Rapid
peake & Ohio
Transit from 3 to 33pcinto higher.
The industrial list has followed the general trend of the
market with fluctuations generally within a narrower range
than those me tioned.
For daily volume of business see page 493.
The following sales have occurred this week of shares not
represented in our detailed list onthe pages which follow:
STOCKS.
Sales
Week ending Feb. 18. for
Week.
Range for Week.
Lowest.
288 118 Feb
Cent & So Am Teleg_ _ _
E I du Pont Powd, pref.
125 86% Feb
250 10734 Feb
General Chemical
932 10434 Feb
Preferred
30 98 Feb
It B Claflin 1st pref
42 101 Feb
Second preferred
Kanawha & Mich tr rcts
100 52 Feb
New Central Coal
100 52% Feb
11 82 Feb
New York Dock, pref _
NYNH &H subscrip'n
vets. 1st paid
1,650 148 Feb
Ontario Silver Mining__ _
710 2% Feb
Peoria & Eastern
400 22 Feb
South Porto Rico Sugar.
100 82 Feb
Utah Copper rights
4,104
% Feb
Rang* sine* Jan. 1.
Highest.
Lowest.
Highest.
14 119% Feb
15 86% Feb
16 109% Feb
14 105% Feb
17 98 Feb
17 101 Feb
15 52 Feb
16 52% Feb
15 82 Feb
17
15
16
16
17
17
15
16
15
115
85
94
103
96
101
52
52%
82
Jan 120
Feb 88
Jan 110
Jan105%
Jan 98
Feb 101
Feb 55
Feb 52%
Jan 8334
Jan
Jan
Jan
Feb
Feb
Feb
Jan
Feb
Jan
14 149 Feb
14 334 Feb
16 25 Feb
16 82 Feb
16
% Feb
18!145
17 2g
16 22
16 8134
14 3-32
Jan 149
Jan 3%
Jan 28
Jan 85
Feb
Feb
Feb
Jan
Jan
Feb
Outside Market.--Dull conditions prevailed this week in
the market for outside securities, the movement of prices
being without feature. In one or two of the low-priced
issues some activity developed, accompanied by higher prices.
Boston Consolidated from 19% weakened to 19 and sold up
to 19%, closing to-day at 193
4. Butte Coalition lost half a
point to 24, recovered to 243% and finished to-day at 243'.
Chino Copper dropped from 13 to 123% and moved up to
13%. Giroux declined•from 103' to 95% and ends the week
at 9%. Miami Copper gained a point to 244 and closed
to-day at 24. Nevada Consolidated opened the week at
22, sold up to 233 and fell finally to 225%. Ohio Copper
fluctuated between 4 and 43%, with sales to-day at 4 3-16.
Cobalt Central was active,and advanced from 19%c.to 26c.,
closing to-day at 25%c. Goldfield Consolidated eased off
from 7 9-16 to 73%, with the final quotation to-day 7 7-16.
Kerr Lake advanced from 9 to 95% and closed to-day at 95%.
Nipissing went up from 10 to 103%. American Tobacco continued the feature among the industrials, advancing 11 points
to 410. American Writing Paper preferred lost 2 points to
25,recovered to 263' and sold down finally to 255%. Lackawanna Steel "rights" were actively dealt in up from 1-32 to
% and down to %. Standard Oil sold down from 634 to
4 and up to 631, transactions to-day being at from
6293
6163 to 615, ex-dividend. The usual dividend of $15 at
this time of the year was declared early in the week. United
Cigar Manufacturers common sold up from 85 to 853 and
down to 84, with sales to-day at 86. In bonds Western Pacific
5s moved down from 973/i to 97 and up to 973%.
Outside quotations will be found on page 493.
New York Stock Exchange-Stock Record. Daily, Weekly and Yearly
,•,.
I.‘1:104
STOCK7-11!CHEST AND LOW EST SALE PRICES
M Imlay
Feb. 14
Saturday
Feb. 12
il
41
6
r
4
fa
25
A
8
•
•
Tuesday
Feb. 15
W eilnesday
Feb. 16
Thursday
I,eb. 17
I,Tidal,
Feb. 18
:1 OC KS
.., wed 01
NEW YORK STOCK
die
EXCHANGE
Week
..ares.
Range Stria January 1. 1
Ca ',cum 0 1110-snizee tom
Lowest
11 i 10as
.:ailroads
11478 11638 63,590 A tch Topeka & SantaFe x11012 Feb 8 12418 Jan 3
11358 11512 11434 11512 11414 11514 11533 116
1424 Feb . 10414 Jan lu
10358 1035, 10358 10358 10358 10358 10334 10378 *10314 16378 1,0001-1. Do pref
12,1. Feb 8 13712 Jan 5
4,100 Atlantic Coast Line RR
12834 131
12634 12814 128 12814 128 129
129 129
1086; Feb 7 11018 Jan 8
11012 11114 11078 11114 11012 11118 11113 11153 11034 11312 15,540 1.1altimore & Ohio
9. Feb 4 04 Jan 7
100 AP Do pref
941.
*9112 9412 *91
*92
94
*9112 04
94
94
C81. Feb 7 8014 Jan 3
Transit_
Rapid
Brooklyn
21,185
7358 7312 7438 7358 744
7314 7238 7338 72
71
176371 Feb 8 18314 Feb 14
18012 18314 18014 18112 18012 18138 18034 18114 18014 18034 11,730(ianadian Pacific
Feb 11 70 Jan 4
Southern
67
..danada
,
100
6812
*6634
6814
*6634
6814
4
0734
6734 *663
*6434 6812
290 Feb 3 312 Jan 7
500 Central of New Jersey
294 295
*290 300 *290 300
290 290 *290 300
774 Feb 8 92 Jan 3
8312 8413 55,800 Chesapeake & Ohio
8112 8453 8358 85
8312 8412 844 85
54 Feb 9 6634 Jan 3
Chicago & Alton RR__
58
*__-_ 57 *____ 58
59 *56
*56
Do pref
--- -*---- 69 *____ 70 *____ 69 *-- 69
__
2313 Jan .. 2424 Jan b
Chit, G Wes ars dep 3d pd
____
____
_
30 Jan 6 30 Jan 6
Do lord "13" ctts 3d pd_
_
_ _
27 Feb 7 3678 Jan 3
-------58 7,925 Chic Gt West trust ctfs
56 -314 5578 -3-1-3-1 5iii3 Uf 5618 3-2-77332
52 Feb 8 644 Jan 10
Do pref trust ctfs
5334 54
5414 5511 5414 5534 5434 5034 5814 5918 7,100
143 145
14418 14534 144114 1451. 14514 14612 14553 14734 29,200 Chicago Milw & St Paul- x14234 Feb 10 15833 Jan 3
Do pref
162 Feb 18 17214 Jan 3
600
*16114 16212 16284 16231 16234 164 16234 16234 162 162
12,250 Chicago & North Western 15253 Feb 4 18212 Jan :3
15458 158
15612 15814 15612 15714 15634 15712 15714 158
206 Feb '.. 225 Jan 0
Do pref
170
*200 215
206 206 *200 215 *200 215 §210 210
631 Chic St P Minn & Omaha 145 Jan 19 16134 Feb Is
160 16112 16134 16134
160 160
158 158
*154 160
§170 Jan 2 §170(4 Feb 1,
Do pref
50
*160 170 *160 170 *160 170 *160 170 §17014 17014
4 Jan 28
538 Jan 4
100 Chic Un Trac ctfs strnpd
414 414 *334 412 *312 412 *312 434
*312 41.
753 Feb 7 1214 Jan 4
Do pref ctfs stmpd
100
812 812 *712 10
*834 11
1012 *812 11
*8
77 Jan 20 8258 Jan 6
300 Cleve Cln Chic & St L
7812 *77
7812 78
784
*77
*7712 79
77
77
10012 Feb 4 104 Jan 15
Do pref
*99 110
*99 110 *100 110 *99 110
*99 110
5412 Feb 8 6214 Jan 10
5,500 Colorado & Southern
61
6014 6114 60
5814 5814 60
5712 5712 58
80 Jan 20 8214 Jan t>
Do 17t preferred
225
82
8212 82
*81
82
*80
82
*80
82
*80
Do 20 preferred
100
7912 Feb 3 81 Jan 6
81
*7912 81
81
*79
*79
8012 8012 *7912 81
16812 Feb 3 185 Jan 3
3,600 rielaware & Hudson
175 17578 17512 178
17212 17414 174 17414 174 174
-11-fe.aware Lack & West_ 290 Jan 19 COO Jan 2
610 *.._ 610 *____ 610
•__..680 *___ 610 *
14,225 Denver & Rio Grande
36 Feb 8 52 Jan 3
3878 4012 3934 4012 3973 4012 4034 4112 4073 42
Do pref
7612 Feb 8 84 Jan 3
2,000
794 7912 7934 7934 80
7933 79
7912 7912 79
Detroit United
61 Jan 17 66 Jan 27
66
*61
*6234
*60
65
*5934 65
*60
65
Shore
&
So
Atlan
Duluth
14 Feb 3 1834 Jan 3
720
16
1614 1614 *15
164 *1514 -1-612 16
1614 1
Do prof
24 Feb 3 3458 Jan 4
1,900
29
2812 2914 *2814 2912 29
28
2958 28
28
1 Feb 8 3458 Jan 5
251
Pic
12,275
2958
2734 2834 2812 2878 2812 2958 2914 2934 29
4134 Feb 7 5212Jan 5
4614 4512 4614 2,420 -, Do 1st pref
4538 4614 46
45
46
4512 *45
Do 2d pref
11-33 Feb 8 411 Jan 5
300
36
*33
36
*3213 3534 *3313 3612 3534 3534 36
Northern pret
x130301..n 19 14378 Jan 3
13534 1361 13618 13634 13614 13718 13718 1373.1 13558 13733 14,524 Great
63). Feb 8 80)3 Jan 4
680 Iron Ore properties
6834 70
70
71
1 71
1 711
717
141; Feb 4 18 Jan Z1
4 Green Bay & %V, deb ettll
_
-------------------------15
15
15
15
Electric
Havana
8812 Jan 20 96 Jan 3.
400
94
94
*____ 95
_
94
94
941. Jan 25 99 Jan •
Do pref
4
*___ 99:38 1._ ___ 9958 *__-- 95 *_ _ __ 9734 1...-- 193200 Hock Val J PM & Co rcts 102 - Feb 7 11878Jan L
116 118
__ *102 120
*102_,.. *102 ___ __
300 Hocking Valley pref
86 Feb 7 90 Jan 1/
90
90
90 *87 -9-0 *8618 90
*87
*89 -90
13814 Feb 8 147 Jan 2
14314 14314 2,010 I llinois Central
142 14318 14234 143
141 14134 14178 142
_
18 Feb 3 2513 Jan 11
nterboro-Metropolitan
-179,805
318
1934 2075 2012 21
2
2034 22
2173 2273 2214
4518 Feb 8 6278 Jan 12
Do pref
5714 5534 5758 77,300
55
4912 5234 5238 5414 5258 65
19 Feb 8 30 Jan 3
231., 23
2312 2312 2334 234 2338 4,000 Iowa Central
2314 23
22
Do pref
39 Feb 9 5414 Jan 2
4134 4134 4233 4258 4278 4234 4338 4212 4278 3,810
41
250 11/1 0 I. t S & M tr cfs. pret 80 Feb 18 80 Feb 18
80
80
80
*78
80
*78
80
*78
$0
*78
3312 Feb 8 44)4 Jan 3
3612 3812 3814 3834 38
3812 7,300 -1-vansas City Southern_
3514 3634 3634 37
Do pre!
67 Jan 25 71 Jan 4
1,850
69
6938 69
6873 6938 69
69
*68
69
*68
20 Feb 3 2534 Jan 5
200 1.ake Erie & Western
22
24
*20
22
*21
24
2312 2312
*22
24
, Do prof
900 •-355 Feb 8 6234 Jan 3
5934 61
*5712 60
*57 .60
60
*57
60
*67
Long
Island
Feb 3 69 Jan 5
62
70
*63
70
*62
70
*63
70
*63
70
*63
14114 Feb 3 15034 Jan 5
147 14913 14914 14914 14853 14914 14958 14978 14914 15173 8,600 Louisville & Nashville
10N1anhattan
Elevated
e
134 Feb 9 13812Jan 3
*137 139 *136 133 1136 136 *135 138 *135 138
po
op
a
er
tnt
it
tT
olltan Street
17 Feb 10 25 Jan 14
24
*16
22
*16
23
*15
*16
22
20
*17
lis & St Loafs
1,700
42 Feb 10 5334 Jan 4
45
4413 44
4418 4414 *43
44
4378 44
43
Do pref
78
*75
85
*75
85
*75
85
*72
85
*70
13014 Jan 1.2 144 Feb la
14234 14312 13,643 Minn St P & S S Marie
139 14034 13813 14358 14258 144
13858 141
Do pret
150 Jan 20 154 Jan 29
1152 155 *153 15673 *152 15678 *152 15678 *152 157
line
ars
leased
Do
91 Feb 7 9234 Jan 3
100
9218
•
9158
*9133
*9133
8
1
9218
911
9212
9213
*9113
8
*913
38 Feb 8 514 Jan 5
4214 4414 4312 444 43
4378 38,000 1%10 Kansas & Texas
40% 4134 4218 43
Do pref
350
692 Jan 25 7453 Jan 5
73
*70
73
7312 7312 7312 7313 *72
73
*70
6514 Feb 3 7238Jan 6
21,200 Missouri Pacific
6912 7034 6934 7112 7034 7138 7053 71
6834 70
iash Chatt & St Louis_ 130 Jan 25 139 Jan 8
*130 135 *130 135 *130 135 *130 135 *130 135
300 1.1 at Rys of Mex 1st pret 60 Feb 3 64 Jan 3
62
62
63
*61
64
*60
63
6334 *60
*61
Do 20 pref
243 Jan 15 2858Jan 20
2738 2738 2,200
27
27
27
2712 27
, *27
2613 271,
11473 Feb 3 12513 Jan 2
11814 1194 119 12014 11838 11978 11938 12014 11914 12112 55,060 N Y Central & Hudson
600 N Y Chic & St Louis.-- 5778 Feb 3 651 Jan 4
62
6312 *56
*60
63
601 *60
6212 6213 60
Do 1st pret
10934 Jan 21 10934 Jan 21
*104 118 *104 118 *104 118 *104 118 *100 118
Do 2d pref
100
96 Feb 4 98 Jan 19
96
*85
97
95
*90
97
9512 9512 *90
*90
15413 Jan 19 16073 Feb 17
1,500 N Y N II & Hartford
15912 16038 160 16012 16013 16013 160 16078 160 160
Y Ontario & Western- 4314 Feb 3 50 Jan 5
40
44
4434 4514 45
4512 4512 4534 4514 4614 17,600 N
Western
&
95 Jan 25 10253 Feb 10
101 10178 101 10112 10012 10114 10112 102% 10134 10214 19.760 Norfolk
Do adjustment pref
88 Feb 2 9078 Jan 22
500
92
89
*88
8914 *88
89
92
*88
90
*88
213112 Jan 19 14553 Jan 3
13512 13678 19,450 Northern Pacific
13434 13613 13553 13653 13514 13634 13638 137
c Coast Co
flo
107 Feb 15 11834Jan 12
940 paclp
112 112
111 111
10812 109
107 108
*10512 112
*98 110 *100 110 *100 110
*98 110
*98 110
Do 2d prof
105 Feb 14 118 Jan 3
200
105 105 *105 112 *10712 112 *109 10914 *107 113
72,390 Pennsylvania
12914 Feb 8 13718 Jan 3
13273 13358 13278 134
13112 1327$ 13212 13314 13214 133
L
St
&
Chic
Cln
Pittsb
1,640
95 Feb 8 10012Jan 5
98
*9758
98
9758
98
9712
8
977
*9412
*9712 98
Do pret
0110 120 *110 120 *100 120 *100 120 *110 120
2154 Jan 27 17214 Feb 18
1608 16512 16475 16673 165 16912 168 16958 16758 17214 864,900 Reading
500 -1-t, 1st pret
9032 Feb 7 9313 Feb 17
9312 29114 9114
93
9312 *9112 03
*92
93
*92
2d pref
9934 Jan 20 1101i Jan 3
107 10812 5,538
108 10812 10712 11012 10712 110
103 108
4812 4834 4934 4858 5013 171,400 Rock Island Company.-- 3853Jan 20 5714 Jan 2
4634 4814 46
48
45
Do pref
81 Jan 25 9113 Jan 3
8814 0,400
86
8612 87
84
85
8478 8434 87
84
Qt L & San Pr 1st pre_
70
*68
71
6838 Feb 3 73 Jan 6
*68
70
*68
71
*69
70
*69
pre/
211
Do
k-7
5,460
Feb 8 60 Jan 5
51
95
8
487
4812
49
4914
484
4834
48
4814 49
241. Feb 8 3412 Jan 3
3058 8,600 St Louis Southwestern
30
2878 2812 2918 2878 2938 2812 30
28
693i Feb 7 7712Jan 3
7434 2,000 Do prof
74
7358 7358 74
73
7234 73
7214 73
11978 Feb 8 x13814 Jan 4
12114 12578 12538 12658 12538 127 103,930 Southern Pacific Co
123 12558 12412 126
2912 12,625 Southern v tr cis stmpd- 2534 Feb 7 3334 Jan 3
2758 2838 2818 2812 2818 2834 2858 29
29
do
Do pref
3,727
GO Feb 8 75 Jan 3
66
6553 65
65
6312 6412 64
65
64
63
2612 Feb 7 3634 Jan 3
3058 2934 3012 7,250 Texas & Pacific
29
2973 2912 3014 2978 3012 30
19)3 Jan 7
6,720 -3- bird Avenue (N Y)_-.!
1014
814 812
958
8
8 Feb 16
058 1038 10
858 9
700 Toledo Railways & Light 1018 Feb 8 1534 Jan 12
1212 1134 1134 *11
*11
1212 1134 1212 *1112 1312
42 Feb 8 5438Jan, 4
4334 4334 4378 4334 44
42
4418 4518 4412 4458 2,500 Toledo St L & Western
pret
Do
6212 Feb 4 7214 Jan 4
6614 2,725
6512 6538 6512 6512 6558 6534 6612 66
65
1,453 Twin City Rapid Transit x111 Jan 25 11712Jan 3
113 113
11214 1121. 112 11214 11214 11212 11234 113
17812 Feb 8 20434 Jan 3
18314 18514 18514 18712 18618 18833 385,600 I Pion Pacific
18034 1845.3 18318 186
96 Feb 3 10334 Jan 7
10138 10134 10134 10134 10178 10214 102 10238 10112 10214 2,740 ki Do pref
3912 374 3712 1,410 Unit Rya Inv't of San Fr 33 Jan 25 4214 Jan 3
3914 39
39
39
39
3678 39
Do prof
6814 2,650
56i Jan 25 7238 Jan 8
6933 67
68
68
66
67
6713 68
64
2112 2218 10,150 Wabash
1834 Feb 3 2734 Jan 3
207$ 2112 2114 2178 2138 2134 2158 22
Do pref
3934 Feb 8 61 Jan 3
4714 4612 477
4634 478 4738 4814 4714 4838 43.300 7 7
44
48
48
45 Feb 8 5253Jan 19
4934 4,650 West MO recta 4th pald_
48
4638 4718 47
4612 4878 48
500 Wheeling & Lake kale_
6 Jan 31 10 Jan 3
253 553 *514 534 §534 534
514 533
538 538
Do 1st pret
100
12
*11
12
9 Jan 31 23 Jan 3
*10
12 *11
12
*10
12
12
Do 2d pref
612
*612 612 *512 612 *534 612 *534 612 *6
1313 Jan 3
514 Jan 31
1.500 Wisconsin Central
50
6012 50
4512 Feb 4 22 Jan 10
46
4612 47
60
47
4914 60
____
Do lira Trust Co eds. __
hang, for Previous
1'ear (1909
Lowest
highest.
9778 Jan 12538 Oct
10014 Jan 10634 'rile
1(17)2 Jan 1131. Aug
1031. Feb 12214" J'IY
01'Nov
96 Apr
8278 J'ne
67 Jan
x165 Mch 18938 Oct
6014 Jan
7014 Nov
215 Feb 3234 Sep
9114 Deo
555g Jan
577, Fen
7434 Apr
7812 Mch
70 Nov
2438 Deo
88 Aug
3178 Deo
h1314 Aug
8 Dec
373
Dec
311.,
6434 Deo
583-4 Dec
in Feb 16518 Sep
15812 Meli 181 Aug
17318 Feb 59823 Aug
208 Mich 1230 Aug
148 Apr 107 Aug
1661. Jan 1181) J'ly
7 Jan
31; Dec
73:4 Dec
1814 Jan
8314 Dec
68 Jan
100 Jan 105 Men
6814 Jan
51 Oct
86 May
7612 Jan
841, Jan
731‘ Jan
16734 Feb 200" May
535 Feb 680 Apr
51 Apr
3758 Jan
90 Feb
7912 Jan
7134 Aug
56 Jan
21 Jan
1414 Nov
3612 Jan
28 Feb
39 J'ne
2258 Mch
3832 Mcla
5634 Aug
46 Aug
281. Meta
1365Feb
15778 Aug
;
654 Melt 881. Aug
21 "Dec
131., Nov
39"Feb 103 Deo
8318 Feb 109 Dec
97 May 126 Aug
0,02 J'ne
88 Apr
137 Feb 16218 Aug
2578 Deo
1158 Meh
6358 Dec
3634 Mch
36 Apr
2634 Nov
02 Apr
48 Sep
82 Sep
7434 Fe
f014 Aug
37 Feb
7512 Aug
6778 Feb
291; Aug
1912 Feb
48 J.1111
6473 J.11°
Dec
7112
54 si an
x121 Jan 16212 Aug
137 Dec 15312 Jan
42 Jan
18 J'ly
05 Jan
01 Sep
Fl Mch 00 Jan
Jan
Jan
14912
132)2
197 Apr 1641. Aug
94"Dec
89 J'ly
5012 Oct
3512 Feb
7824 Oct
71 Feb
7712 Aug
65 Feb
12213 Jan 142 Deo
4412 Apr
64 Dec
2658 May
21 Dec
12012 Feb 14734 Aug
69 Nov
9812 Mch 10
100 Feb
0 Feb
95 Nov
7614 Apr
.154 Nov 17434 J'ne
5558 J'ne
4214 Feb
8414 Jan 102 Dec
8518 Mch 9212 J3r
13314 Feb 15912 AugkL
76 Mch 115i. Dec
100 Mots 1106 "Sep
88 Mch 115 Dec
12613 Feb 15114 Bets
9978 Dec
86(2 Jan
104 Feb 11614 Sep
118 Feb 17338 Sep
96 Aug
89 !deb
90 Feb 11712 Dec
81 Deo
2078 Feb
5758 Feb
9434 Dec
74 Dec
6514 Mch
6034 Sep
36 Feb
2013 Feb
3538 Dec
82 Dec
4712 Jan
11458 Feb 13918 Aug
34 Aug
22 Feb
7512 Dec
60 Jan
4012 Aug
30 Feb
4212 Jan
1211 Dec
1538 Jan
7 May
5478 Oct
43 Feb
7414 Jail
6434 Feb
97 Jan 1164 Dec
17212 Feb 219 Aug
xoi Mch 11812 Aug
47 Sep
30 Feb
77 Sep
5014 Feb
2778 Dec
15 Feb
41 Feb
6134 J'ne
56 Deo
221 Oct
1278 Jan
5 J 11
2578 Jan
1514 .Fly
1518 Jan
612 J'Iy
6373 Apr
13578 Jac
Qill. Mish
017. 114.vp
BANKS AND TRUST COMPANIES-BR )KERS' QUOTATIONS.
Ask
Banks
Bid
Bid
Bid Ask
Ask
Bid' Ask
Banks
Banks
Banks
Ask
Bid
Banks
Prod Each $ 170
180 Nassau 11__.. 225
300 350 Jeffersonl__ 170
175
Chatham __ 325 350 Fifth
Liberty,.___ 625
New ht
182 Chelsea Ex$ 200
evrtea:tiarh3cid
N
8128
1:1 2
220 Reserve
0
06
1_6
!_5_
9
5
_ _ _ 400 4-27 New:,1e w Y:,rko 750
50
10
9
di.ii- 63) Chemical __ 445
Seaboard
375
41E' 14th St$
254
257 Citizens' Ctl 15712 16212 Fourth
York., 315
400
200 205 - Manhattanli 132034
330 Second
_ 130 City
3 1
Gallatin
Sherman__ 1:15
_
8412
315
NIarlet& Fut 264
225
2-diea ifueet
rlit
115 - 130 Coal & Iron 145
300 Ntiec
State
2!.311.5
15-5-- Garfield
300
375
____ Colonial li
_ Germ-Am $ 140
12th Ward..
350
_
- 2
8
'
1
165
5
170
2
BronxBoroli 300
_ _ Columbia 18_ 325 3-4-5 - Germ'n Ex$ 450
_ Fa
rlicif____ 230 !
ac
40-5- Merch Ezell 160
2 1111f3 230 Ward.._ fit;
Merchants'., 180
Bronx Nat
.. 21-5 Commerce - 8192
Un.on Exc_ 1.0
195 Germania 11- 550 575
1-90 - P
Bryant Pk $ 11712 16212 Corn Ex If
320 339 Greenwich 11 260
265
Wash IPts $ 275
ep
'eho
Metropolis 11 390 410 ip
nliex's2-__... 8.2
(4ji
)
g 81!
75
8
18
150 East River_ 126
Butch & Dr 140
Nletropornt 19712
Hanover
135
%Vest Side $ 500
8625
ft
175
Fidelity 11..- 165
Century
170
Plazall
175 Imp & Trad 560 5-7-6- Mt Morrisli_ 250 i
Yorkville
2
/
500
625
aft 41.•
465 Fifth Aveli. 4300 1500 Irving N Ex '245
Chase
430
210 Mutual $___ 280
*Bid and asked prices: no sales were made on this day. # Ex-rights. *Lees than 100 shares. %State banks. a Ex-dividem and rights. b New stock
ISale at Stock Exchange or at auction this week 8 First installment oak
a Sold at nrivat.! sale at thss nrice. Z 2,1 nald. .3ci na.id.
Banks
New York
Aetna
America 11__
Amer Each_
Audubon,.,.
Battery Pk..
BSti
Ask
1-6-r
New York Stock ReCOrd-Concluded-Page 2
FRB. 19 1.91(
SI' • K 5-7/tot/ k NT AN!) LOW EST SALE PRICES
Saturdnul
Feb. 12
......-
•
•
•
›,
4
0
4
al
.n
r
,..i
8
'1 oneiv,
rm. 14
7'nesday1 iv *facade!
Feb. lb
Feb 16
7 hursda, I
lopb, 17
Friday
Yet). 18
Sates o
the
IR eel:
''har,
STOCKS
NEW YORK STOCK
EXCHANGE
487
Range Since January 1.
On Gadis 9/ 100-snar, lots.
Lowest.
li lobes,
4
iii" *Hi"
•
1.0We3t
Industrial& Miscellaneous
LiA dams Express
*241 265 *240 265 *242 285 *242 265 *242 265
1250 Jan 3 3270 Jan
190 Jan
Ills-Chalmers
1173 1178 *1112 1214 1214 1258 1212 1212 1,2(x)
1178 12
1118 Feb 3 15 Jan .
1234 Feb
Do pref
*39
41
400
4214
4012 4013 *38
44
42
42
42
36 Feb 3 6134 Jan : 14 Feb
7314 7038 75
7638 7478 7634 7578 7738 7534 7714 192,650 Amalgamated Copper
7014 Feb 3 9034 Jan3
65 Feb
42
42
*42
4013 Feb 8 49 Jan 1,,
4612 47
4638 4634 1,800 Amer Agricultural Chem_
33i2 Jan
45
4414 46
Do pret
*97 10312 *97 1031. .......,
951r Jan
103 Jan lo 103 Jan 1,,
*101 10313 *102 10312
3834 3912 3812 3934 3712 -3814 3878 308 3812 3912 7,725 American Beet Sugar_...... 3178 Feb 8 4714 Jan 141
2014 Jan
*91
100
04
Do KO
9312 9312
*91
8978 Jan 26 9378 Feb 10
9112 *91
9334 *91
94
82 Jars
11
10 Feb 3 I37 Jan 3
1114 1114 1178 1114 1112 1112 1134 1112 1112 3,700 American Can
712 Feb
7614 7634 7634 77
72 Feb 3 811* Jan ,Do pref
7112 Feb
7614 7634 7634 7678 7612 7634 2,500
6934 61
6212 10,100 American Car & Foundry 5618 Feb 8 727,4Jan 3
441, Feb
6278 62
0058 6114 CO
62
62
Do pref
*117 120
200
115 Feb 7 11978 Jan 7 10712 Feb
119 119 .‘11734 119 *11734 11884 11834 11831
5934 6014 6034 61
57 Feb 8 6712 Jan 3
6034 6414 65
4218 Jan
6612 6512 6612 11,025 American Cotton Oil
Do pret
*102 107 *102 107 *102 107 *102 107 *102 107
101 Feb 1 104 Jan 4
94 Jai
American Express
*275 295 *275 296 *270 205 *270 295 *270 295
21712 Jan 20 1320 Jan 4 ;205 Feb
500 American Hide & Leather
6 Feb 3
*614 7
7
634 634
7
634 634 *612 7
614 Feb
818 Jan 5
Do pref
2,975
3818 3814 40
3712 3712 3712 3212 38
30
37
32 Feb 3 4778 Jan 2
34 Feb
23
1.700 American Ice Securities
20 Feb 3 2634 Jan 4
24
24
24
2438 *2414 2412 *2312 2412 24
1878 Jan
1412 1434 15
14
825 American Linseed
14
1452 1478 *14
15
1318 Feb 7 1734 Jan 3
15
12 Feb
Do pret
37
38
37
1,610
3812 3818 3818 3834 3958 39
39
29 Jan
3112 Feb 8 4678 Jan :.
4712 4912 49
6034 5112 5114 5114 5,840 American Locomotive
4878 50
501
99 Feb
4538 Feb 8 6212 Jan 3
112 113 *112 114
111 113 *112 114
Do pref
300
113 113
110 Feb 7 115 Jan 7 10914 Feb
2,200 American Malt Corp
012 612
7
7
553 Jan 20
678 214
758 734
758 8
512 J'I f
8 Feb 1,1
3834 3834 39
4034 4012 42
Do pref
4213 43
4314 4414 3,615
33 Jan 20 4414 Feb 18
38 Nov
88
88
Amer
*88
8834 *8814 89
89
8914 x89
Smelters Sec pret B 8634 Feb 8 9078 Jan 3
600
8918
80 Jan
8018 8318 8178 8314 8178 8334 83
8434 8338 8518 101,200 Amer Smelting& Refining 7514 Feb 8 104 Jan 3
7734 Feb
106 10718 1004 107
107 10714 10752 10752 *10612 10712 2,100
Do Pref.
10412 Feb 7 11234 Jan 3 101 Jan
*250
___ *250
___ *250
___ ______ American Snuff
_ _ *250
_ *250
225 Mch
*911 1-00
Do pref
*00 100
*93 RR) *93 Id
*9213 100
95 Mch
9512 Jan 13 0612 Feb 3
57
5712 5812 6813 5818 5813 5818 5034 60
5412 Feb 4 66 Jan Is
3478 Feb
6014 2,550 Amer Steel Found (new)_
12212 125
123 125
123 12313 125 12532 12472 12572 10,100 American Sugar Refining 11814 Feb 7 12878 Feb 18 11538 Nov
12113 12134 *121 123 *121 123
Do pref
300
122 122 *12112 123
11912 Feb 10 1221., Jan 1 118 Nov
137 13714 13678 137
13.514 137
136 13614 130 13738 7.575 American Teleph & Teleg 13412 Feb 3 14134 Jan 3 125 Feb
*92
95
9312 9372 9318 9318 9318 9378 0312 0312 1,395 American Tobae (new).pt 91 Feb 3 9512 Jan 3
0012 Feb
3412 35
34
35
34
35
31 Feb 8 3734 Jan 3
35
3612 2,750 American Woolen
3558 35
26 Feb
10078 10078 10118 10112 *10012 10112 101 10134 10112 102
Do prof
1,700
99 Jan 25 10318 Jan 3
9334 Jan
49
5018 4912 60
49
22,600 dAnacondaCopper Par$25 $45 Feb 8 554 Jan 3 $3734 Feb
5114 50
51% 6018 51
*2034 2812 *2712 2812 2814 29
2613 Feb 3 34 Jan 3
*2713 2912 *28
400 I lethiellem Steel
2912
1834 Mth
*52
66
*52
57
Do pref
54
5
5512 *53
300 '
47 Feb
53 Feb 8 65 Jan 19
5612 *52
57
152 153
150 150
154 161
1581.4 162
15212 15878 4,220 Brooklyn Union Gas-...- 143 Feb 8 16412 Jan 3 118 Jan
*13
14
1314 1314 *13
400 Brunswick Term & 1-ty Sec 1212 Feb 10 1818 Jan 3
14
1312 1312 13
1778 Dec
13
33
33
*3034 31
200 13utterick Co
*31 • 33
3034 Feb 8 33 Jan 4
2378 Jan
*3031 33
32
32
3812 3958 3014 4018 39
3512 Feb 3 4834 Jan 3
3934 4078 4114 4078 4314 35,450 1 'entre' Leather
2513 Men
4107 10814 *107 10814 *107 10812 -1.07 10812 10814 10838
Do pref
10514 Feb 7 10878 Jan 6
200 N
9934 Apr
3612 3714 3714 38
7,800 Colorado Fuel ec Iron
37
38
39
29 Feb
3814 40
40
3212 Feb 7 60 Jan 3
1712 1712 1734 18
1912 1034 2014 2113 2014 21
1,350 Col ec Hock Coal & Iron_
2138 Feb
1218 Jan 27 9212 Jan 4
3.130, 33c. 33e, 330. 28e. 33c. 33c, 35e. 35e. 35e. 7,900 Comstock Tunnel_Par $2 260. Feb 1 36c.Jan 8
21c Apr
142 14434 14418 14558 x143 14678 14514 14718 145 14634 37,785 Consolidated Gas (NT Y)- 139 Feb 7 16038Jan 3 11412 Feb
1818 1878 1838 19
3,450 Corn Products Refining
17 Feb 8 2314 Jan 6
1853 1878 1878 19
1613 Feb
1878 19
82
8312 8212 8212 83
Do pref
7314 Feb
7838 Feb 8 8638Jan 3
8418 8418 *8214 8412 1,140
83
Crex Carpet
61
*50
*50
61
*60
61
*50
45 Jan
*50
01
61
560 Jan 6 560 Jan 6
3018 31
3212 Feb
3034 32
3/18 3118 3134 32
3134 3178 4,966 Distillers Securities Corp 27 Feb 3 :.3634 Jan 10
Federal Mining & Smeit'g
'
6-- 6012 4.--- 6012 *__- 69 4,.. _ _ 68 *___ 69
55 Meh
*89
82
Do pref
)0
8018 *80
82
gl014 81
80 Feb
81
7878 Feb 7 88 Jan 3
8112 1,300
14712 Feb 7 16078 Jan 6 15018 Feb
515212 15234 153 15312 153 15414 15434 15613 15512 15612 2,600 General Electric
*80 112 *75 115
Granby Cons AI S & P..- 11012 Jan 3 11213 Jan 5
*80 110
*90 110 *75 115
91 Mon
$41
86
80
86
8712 88
8712 8818 86
8618 3,575 I 111 Harvester stk tr ctfs 483114 Feb 8 12578 Jan 10
ti2 Jan
*11912 121 *120 121
121 121
129 Feb 17 129 Jan 4 10914 Jan
120 12012 *._..„ 124
700 A Do pref stk tr ctfs
goo Int Mer Marine stk tr Ws
638 638 *618 612 *618 612
014 614
5.18 J'ly
71z Jan 5
6 Feb 3
612 612
1912 1978 1912 1934 1078 20
1834 J'Iv
*20
Do pret
21
2034 2113 2,600
1814 Feb 3 2438Jan 5
1234 1234 13i8 1312 1312 1414 14
923 Mch
1438 1412 1912 3,000 International Paper
1214 Feb 4 16 Jan 3
5434 5434 *5413 55
5614 5638 2,550
5434 5534 5612 57
Do prof
5312 Feb 3 6122 Jan 3
4734 Mch
4612 4678 4713 49
*48
49
4858 49
3312 Feb
48
4814 4,995 Internet Steam Pump- 4312 Feb 7 545g Jan 7
*8412 80
80
86
*85
Do pref
87
260
58512 8512 88
88
821. Feb 7 9034 Jan 17
8212 Jan
19012 10112 9814 10112 9834 9912 9912 9034 9912 9978 13,420 Laclede Gas (St L) com- 97 - Feb 7 11612 Jan 10 104 J'ne
90
90 *87
90 *87
9112 00
91
85 Jan li 9118 Jan 5
*87
90
500 Mackay Companies
70 Jan
Do pre
70
400
77
7612 7612 *76
6913 Jan
76 Feb 10 7814 Jan 10
77
7618 7618
77
*75
11014 11014 11038 11058 *10812 110 *10812 111 *10812 112
9612 Jan
101 Feb 4 115 Jan 5
200 National Biscuit
Do pret
*121 124 *12114 124 *121 124 *121 124 *121 124
123 Jan 6 125 Jan 17 1181, Jan
2214 2312 23
2312 *2214 2312 23
125i Feb
2312 2334 2418 • ,700 Nat Enamel'g & Statnp'g 2014 Feb 8 2813 Jan 3
Do pret
82 Jan
100
98
*86
*88
*88
98
94
*86
98
94
98
9012 Feb 5 9512 Jan 18
7012 81
7114 Feb
74 Feb 8 8938 Jan 4
8018 8114 8014 8078 81
8178 81
8134 5,550 National Lead
*107 III *108 11012 *10812 111 *109 11034 z10912 10013
107 Jan 20 11012 Jan 17 10234 Apr
Do pref
100
72 Feb 8 9513 Jan 3
80 Feb
78
7978 80
v73
7814 7814 1,260 New York Air Brake
7812 78
78
78
72 Jan
814 7912 7912 7912 7912 7912 7934 8034 7934 8034 3,425 North American Co. new 75 Feb 3 84 Jan 3
912 30
:30
30
3014 3012 3014 3214 3112 3312 3,900 paciIlc Mail
2912 Feb
28 Feb 3 4314 Jan 4
3812 39
acifle Telep & Teleg- 33 Jan 26 4614 Jan 4
39
39
39
1,450
3938 3934 40
4514 NOV
40
*39
10834 110
10914 110
10912 11038 110 11058 11014 11034 7,350 People's G L & C (Chic) 10613 Feb 3 11638Jan 3 10112 Jan
09 10012 100 10112 101 103
9912 Dec
10212 10312 10214 10234 5,380 Phi adelphia Co (PItt3b'h) 97 Feb 8 1081,Jan 8
2018 2118 2012 2114 2014 2012 2118 2112 2078 21
4,900 Pittsburgh Coal Co
1834 Feb 7 2784 Jan 5
10 Apr
71
73
71
74
Do pref
7114 7314 71
7312 7114 72
8,900
6612 Feb 8 85 Jan 3
40 Feb
3913 403
4038 41
4112 4158 4212 44
4358 4,200 Pressed Steel Car
43
3013 Feb
Feb 8 5178 Jan 3
3514
102 102 *10134 10214 102 102
Do pref
102 102
90 Feb
102 10214 1,250
10012 Feb 5 10712 Jan 3
19812 19912 198 198 *190 199
1,659 Pullman Company
198 198
197 198
18814 Jan 12 200 Jan 11 100 Jan
*3
3
3
312 *318 312 *318 312 *318 312
Quicksilver Mining
300
vss Jan
11
Jan
5
s
3
9
263 Jan
*328 7
*318 5
*312 5
*318 6
*318 6
Do pref
438 Jan ti
334 Jan 25
3 Meh
40
4078 4012 41
4034 41
4112 43
2,500 -1-‘Dallway Steel Spring... 35 Feb 7 5178 Jan 1
4212 43
3212 Mch
*101 105 *101 195 *100 105 *101 107 *101 105
, Do pref
101 Feb 7 107 Jan 17
9778 Feb
3634 3812 3814 39
3878 41
4014 4034 3912 4038 16,313 Republic Iron & Steel-- 3314 Feb 8 457g Jan a
1858 Feb
9913 100 10034 10118 101 102 10218 1027
Do pref
8 10212 10213 5,700
5•71g Feb
9878 Feb 9 10414 Jan a
77
77
7612 7814 z7858 7534 37612 7612 no
1,270 Qloss-Sheffield Steel & Ir 7112 Feb 7 8812 Jan 3
78
68 Feb
.
5118 118 *118 118 4116 118 *11818 118
1.3 Do prof
115 Jan 19 11834 Feb 1 10738 Feb
214 -33
33
33
3214 3338 3278 3278 3278 3278 1,300 dTennesseeCopper Par$25 $3018 Feb 4 $4058 Jan 3 $3312 Oct
4
01
*84
*85
91
90
90
8778 88
*85
300 Texas Pacific Land Trust 83 Feb 8 14912 Jan IC
8013 Feb
11
1014 1014 *912 11
914 Feb
878 Jan 26 1314 Jan IC
978 978 *9
200 Union Bag & Paper
*913 11
70
70
*69
75
70
70
*70
72
240 ki Do pref
*70
75
60 Jan
69 Feb 1 73 Jan 17
*118 120 *118 120
11914 120
11812 11812 *118 11914
310 United Dry Goods Cos
11812 Feb 8 122 Jan 3 115 Oct
*110 11034 511034 11034 11012 11034 111 111
Do pref
11014 11058 1,192
110 Feb 7 11378 Jan 4 r109 Sep
2538 2512 25
go
2433 2458 26 20 26 26
930 U S Cast I Pipe & Foundr 23 Feb 3 32 Jan 3
243.4 Feb
79
7814 7814 37934 7934 7012 7912 *7514 7814
79
Do pref
563
70 Meh
75 Feb 8 84 Jan IC
*118 130 *115 125
118 118 *115 125 *115 125
100 United States Express
112 Jan 4 145 Jan 11
82 Feb
7378 74
74
*73
74
74
74
75
74
1,000 US Realty & Improvem't 72 Feb 8 8414 Jan 4
*73
64 Feb
*8
1012 *9
*8
11
1012
200 U S Reduction & Refining
818 818 *7
10
714 Feb 10 11 Jan 14
10 Mete
*10
*10
29
2912 *15
2712 *1612 19
Do pref
*17
2712
2913 Jan 3 2912 Jan 3
24 Feb
3914 42
42
4214 4218 4234 42
4518 7,400 United States Rubber_
4252 42
35 Feb 7 5213 Jan 3
27 Feb
111 11114 11112 11112 111 112
11212 11278 11233 11234 2,650
Do 1st pre
108 Feb 5 11612Jan it
98 Jan
*76
80
*79
Do 2(1 pre
600
80
*79
80
80
80
80
80
672. Fe's
76 Feb 7 84 Jan 3
7714 80
79
8038 7853 80
7973 8118 7034 8112 651,939 United States Steel
4114 k.'en
75 Feb 8 91 Jan 3
11878 11912 11914 11958 11914 11934 11934 12014 11934 12014 13,425
Do pre('
11613 Feb 7 12538Jan 1 107 k e.)
40
5078 4958 51
5013 63,860 dUtah Copper_ _ Par 810 $4234 Feb 8 $6014 Jan ( $3918 Feb
4938 6078 5018 5034 5))
6014 5134 5134 53
Virginia-Carolina
Chem
29,000
47
5512
5233 5514 55
it
Feb 3 5778 Jan
4073 Feb
5534 5434
*121 123
122 123
12318 124
Do pref
124 124 *122 124
900
121 Feb 11 12914 Jan 1. 114 Jan
Virginia Iron Coal & Coke 03 Feb 4 73 Jan /
*____ 65 *_
*61
65
65
67 Feb
---- ---- -- ...___ 119
DetInnIng
*15
20
20
19
*15
Vulcan
325
.
15 Feb 4
Jan 11
40
6 Feb
-- *64
73
*63
Do pre
711 *63
60 Feb 4 80 Jan (
45 Jan
73
*loi178
168 170 *165 175 8 *168 178
152 Feb 3 a195 Jan 4 300 Jan
200 Wells Fargo & Co
71
72
7134 7212 7214 7214 7214 73
VT
estern Union Teieg_
64 Feb
69 Feb 4 77 Jan :
73
7312 8,125
67
6714 68
0814 *07
6734 6013 6934 6012 70
1,600 Westingh'seEl&Mfg amen 62 Feb 8 8212Jan :
71 Feb
*115 128 *121 135
121 135 *181 12A *121 lac
1ln let. nrpt
_ _ 120 Tan 95 1281.4 Jan f 11.1 Itch
i
.
Rance
rvei-fous
Ye's' (1909,
fii3esi
;251) Nov
1678 Aug
5712 Nov
6618 Nov
M1 Aug
103 Aug
9912 Aug
03 Oct
1513 Nov
Rts J'ne
7(92 Nov
124$4 Aug
7914 Nov
10714 Nov
J00 Dec
10 Sep
6178 Aug
4214 Apr
20 J'ne
4734 J'Ile
6914 Aug
122 Aug
1112 J'ne
59 Sep
0.38 Aug
10512 Nov
11634 Aug
3285 Nov
105 May
6638 Nov
13638 Sep
131 Apr
14518 Sep
104 May
4012 Aug
10734 J'ne
$5432 Dec
3614 Sep
6912 Sep
16412 Dec
1912 Dec
37 Nov
5134 Oct
111 Sep
53 Dec
9112 Dec
37e Oct
16514 Jan
2612 J'ne
9312 J'ne
63 Dec
4112 Jan
1)512 May
94 Aug
17234 Aug
11012 Dec
11884 Dee
128 Dec
9 Oct
2758 Jan
1914 Jan
6934 Aug
5412 Nov
1/1 Sep
11338 Deo
9512 Nov
7758 Dec
120 Sep
130 Sep
1014 Dec
9912 Sep
()4 Aug
11334 Aug
9714 Nov
8712 J'ne
4812 Nov
64 Oct
120 Aug
103 Dec
2938 Nov
8712 Dee
56 Aug
11134 Aug
200 Aug
0:38 JOy
10 May
5412 Aug
109 Aug
4913 Sep '
11014 J.IY
9458 Oct
120 Sep
$49 Jan
0378 J ly
1538 J'ne
8114 J'ne
12512 Dec
114 Dec
3512 J'ne
8713 Aug
1111 Deo
87 Sep
1712.111a
3012 Aug
5758 Aug
12312 Aug
8912 Aug
0473 Oct
131 Oct
$6714 Nov
56$8 Dec
123 Dec
7572 Sep
3714 Nom,
1)134 Nov
;670 Dec
8514 Nev
90 Aug
145 Sett
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
Beaks
Bid
Ask
Banks
Brooklyn
North Side 11
People's ___
prnsp'etPkil
Terminal liUnion IE..--
Bid
Ask
Ask
169
___
160
100
100
145
1030
325
___ _
_.
11-0
510
1851)
210
___
___
trust Co's Bid
N Y(.10
Carnegie __ 149
Central 'Fr_ 1000
315
Commercial 125
Corn wealth 160
Empire __ 300
Equit'bie-Tr (i()0
Farm Lo&T 1800
38713 Fidelity _-__ 20)
700
Fifth Av Tr
- _
152
Fulton --- 2£40.
Trust Co's
Ask
785 NY Life&Tr
-___ N Y Trust_
Standard Tr
3-2-0 TitieGnec Tr
____ 'Jr Co of Am
_
union Trust
____ US NIC3;40 Tr
____ Unit States_
545
Vita Norden
____ Washington
__ Westchester
1-4-0
Windsor __
Bid Ask
1100 ____
650 670
400
__ _
535
550
360 370
1350 1390
470 480
125,) 1265
235
250
360 370
150
____
125
135
Trust Co's Bid
Ask
BrooklYn
Brooklyn Tr 425
445
Citizens' ___ 138
145
Platbush _- 200
225
Franklin_ _ 220 230
1-3-(1
Hamilton .. _ 260
270
100
Horne
115
120
Trust Co's
115
Kings Co _ 500
- -.
N Y Cily
.._
L 1st L & Tr 395 315
380
--- Aztor - ..__
Nassau
f 180
-.
Bankers...Tr 675
150
People's
300
_ Wway Tr-- 148
Queens Co_ 115
125
at Clt
205 305
100
Williamsb'g 80
Bid and asked_prines: no sates on this day. Mess than 100 shares. $ Hz-rights. b New stock c Ex-dtv aul rights. ti
Now quoted dollars per snare.
tSsle at Steck EXchange or at auction this week
s Ex- stook dividend. 1111,nks marked with a parairranh CID are State banks
Brooklyn
Borough 1_
Broadway II 316
Brooklyn IT_
_
First
295Hilisidell..
110
Home 131r li. _ ....
Homestead,'
Manufao'rs' 415
Mechanics 'II 240
• ontaUk
_
12-ii
alliati
120
426
145
140
153
150
-----.-
._Columbia
Trust Co's Bid
Guar'ty Tr_ b775
GlIardian Tr 170
Hudson ___ 175
ICnickerb'Irr 310
Law 'I' IJeTr T2961:
Lincoln Tr. 150
400
Manhattan
Mercantile _ 740
Metropolyn 525
__
Morton Tr_
Mutual.... 1-3-(1
Slut All'noe 130
New York Stock Exchange-Bond Record. Friday, Weekly and Yearly
Jan. 1 1909, the Exchange method o/ quoting bonds was changed, and prices are now
.._ _
BONDS
N.Y.STOCK EXCHANGE
WEEK Extilm, FEB 18
N.2 I
4.1Ps
Price
Friday
lib 23
Week'e
'lel Range
Bangs or t.^,i;
since
Last sate P:14; Januarp 1
:-"aai tatIrest"-oxispl /or incone and ileFaultel bonds.
BOND.;
111.5.
)
.
N. Y. STOCK EXCH ANGIt //..: ti•
WEEK ENDIN14 FEB 18
',--,1-'1
Price
kriday
Pao IS
Is
TVeek'S
Range or
Last
Bangs
Janisary 2
Bid
Ask Low
High .NO Low High. Cent of (4a it It-(L'on:
Bid
L.
llllll
B
Askw
Lose
_No Low _High,
So
:1 Jan '10
U S 2s consol registered al.93O Q-J 1064 1014 10118 1 14 10 Iv .1014
802 81
ad pre income g bs stamped.I .... 15
10012
1004 Feb'10
U 2s consol conpon.....11930
/
4 111/14
Chat Div pur mon g 44.i131 2-1) 884 14 I 9d38 sup .09 ....
101/1
10214 103 10134 Feb.10 -.4 1014 10134
Mao & Nor Div Sat g 38.1046 J -J
10478.Pue 08 .... ......
oc191S
U S 38 registered
11121
4
103
11021
8
103
q.
F
s'e4'10 . 101 14 102's
Mid Oa & AU Div .,s. .11141,1-J
ic1018
U S 38 coupon
Mobile Div 1st st 58
1 11113 :illiv'
100,, Nov't/8 .... ......
111461 J -J 106
t1 1.
U S 3s cou small bouds /c1918 g•F
.... 110 110
10? 103 Jan '10'....., 103 103
1 1125 4-F 1144 11514 1154 Jan '00
11514 11514 Ceu RR& nor is col g is 1037 NI-N
U S 48 registered
U 48 coupon
19-24; Q-F 11414 11514 115 4 Feb'10 .... 114% 11534 Cent of N J gen% gold 68.19:37 J -J 121;125 12478 is-5 I 0 1244 1254
23,4
4,4 11v
28
3,,1
20
5,4 10
%13
010
Feb'10'....
0
Registered
41187 4.J lu
121
10
28
U Pan Can 10-30 yr 2s.k1u30 Q-N 100 101 101 Mateu9
1 % 10
28
5%
Am Dock & Imp gu 54..1921 J -J
;
.
Foreiffn I:overtime:it
Le & Awl It gen gulios 1:320 J -J
1
1
1014 101 18! 3 101 1014
9678 64 9534 97
Leh & Wilks 11 Coal as..1912 ii-N 101
Argentine-Internal 5s of 19()9 M. 4 0634 964 9678
j ..i
111 4 1011'610U Feb'10......ILOU 10014
Imperial Japanese uoverniir
Con ext guar 44s....11910 4.51
1
95; 7i 9418 9574
sterling loan 4
N Y & Long Br ger g ais 1141 11-S IMO
11125 F -A 4 934 Sale 95
45 /.., 95
95 ; 2 1)378 95's Cent Pacific see So Pacific Co
2.1 series 44s
J i 95
1125
1 „, ..„
9218 39 8618 1124 CentVermont 1st gn 84.s.e1:120 4-F1 tb,5
Sterling it:an 4s
2 87
1131 J -J 4 92 Saic 02
87
In,
87
87
1
Repub tit Chha Ss ex ten itebt.. MS $10314 Sale 103
1034
U 102.8104
Chas & say see Atl coast Line
1
4 97
974 u /
117 1 2 112638 97
elies & mho golittis
San Pauio(Brazil; trust5s 1:3111
al:311 4-0 101 4Sale 101
10114 6 101 10114
904,
93
99
1
1
,
11r%
00
105
105
4
,att .0434
1.10
30 1U3 12 1054
oi Ai ex
Gen funding & impt Os.1929 J.j
U
oi 18:11 11- J
itII
15% 111
115 4 Feb 10 ....' 914 9534
1st CO11801 g os
114'4 114'4 11434 261l334 1141.4
Gold 48 of 1004
1054 J -D
1939 M-N
113's 1124.1an'IJ ....111241124
Registered
12' hese are pr ices on the 0(181) of 43 to Z.
State and City Securities
IU
93
92
9'
Ppda'i..-T 103 sale 102 /8 1034 33 102 1034
1
;1
General gold 444
1
110 Nov'08
Dist of Columbia 3'658...J1124 F- A
Registered
.....
96
1034 Deo'04
87
8.3 18
05
7 Alirs7
!
u1
Big sandy Ist 44
Louisiana new consol 48 1011 J -J
4 87
87
Craig Valley lit g 5.
4
11 RI
:
J
2:
I"11 107 112
New York(hty114
(2
UM 111,0'00
1994
.1
.
.
.
11
O11
MD M.N 1004 Sale 1004 100361 9711 99410058
Potts Creek Br 1st 48-11,16 ,
0i1-il ,
4% Corporate Stock
1tF4
3
1111
1 .4
1j4 N,,,
'
....
1001
4
.9;
...
Suds
lo018
10014
99.2
31
:163
M-N
6
....19J8
100
4
stuck
kt & A Div 1st con g 44 11181/
4% Corporate
)
10114 10934 10:1
1094 t,13 107% IU1178
93 1459'10 .... 93
'
57
New 4 48
20 cousol g 48
93
103% Dee'ou
4 103
It/17 $1-1,
Warm SLR Val lit g Os 198
New 415
9 M-8 101 10a 11314 i• eid'uO .
41
ui
91
Pi I 1 th . 91
44% Corporate Stock -11157 M-N 11.11.1 15 tale 10:34 10914 1111 108 110
Greenbrier Sty 1st gu g Is'40 2,1-N
103
103 1 2 10241031
103
76
75 Feb -10 .... 75
77
1517
/
4 Chic & Alt RR rot g 38...11141 4.0 74
443,0 aSsessrut bon/is
74'2 737t,
'44
9 73
4% Corporate mock._1957 M-N low+ Sale WO% 100'51 4 92%100.,
Railway 1st lien 3438...11/50 .1 -J
76
ilia,,J'ue'09
.
1
Registered
N Y State-highway 40 1938 M-S
Ohio Burl& Q-Deuv V 4s1
So Carolina 4.44 20-40
j .
1)9%
. 0
z56
1P
.,,
4 9
1
79
5
1'
34 °
Li:0:9:
1933 J -J 103;. . 102 4 Jan '09 ....
2j
F:A
'
,
-4U ...
.611.139
192
50
..... 100
94
96
05 4 Nov'01
Illinois Div 3L2s
Tenn new settlement 38-11113 -j
90
uu /6.181110 ...' V078 9078
Virginia fund deUt 2-30 1191 J -J
1119
9j
J :J
Registered...
19
j 8" 8614 "38
10
60
5 lUoi4 10
45
52
48 Feb 10 .... 43
804 61
Ills Div 45
138 deterred Brown Bros Otis.
66
6'10
80
°4 10
80
32
11 '
(
034
1till
108
°4 Oclu
Iowa Div mug mud 58-1
j--0
.1
94
11/
9A
10
994 Feb 10 .... 1.11 .
Sinkingluuti4s
11119 4-0 99 100
41 99%
Nebraska Extension 48.1927 hi-N "
31
A la/mum Cent bee So By
111
4
44 100
119%
1004
''
1 .
9834 0,
0.31ati
r:;:4
o
08
13
,4
w4 .:.,,,, 11,
Registered
filaba Mull see AL Coast Line
Southwestern Div 48....1921 MS 9
Albany 43 suso see Del & flint
Joint bonds see Great. Z.jli
Ailegiieny Valley see Penn
os
8.2
117
:
M
y,
101% 102 101 78 10r
Debenture 58
!
. I0
4 1E::12
Alleg
VA/ est see Butt it & P
'174 Sale 77
771
:163
General 4s
5 7
ii0
774 17091
Ann Artier 1st g 4s
411115 11-J
1958/M.8
09
16i8
8 Pilit4 10
i'l".
u
t88 Ve010
Hands SI.J vs cuusoi 63 10111m.... 101 14 102
Atoll T & 6 Fe-bleu g 44.1995 4-0 100 18 Sale 1008 100t,
8 19
*
.
lOu
is
100
100
834
2 19 4 100
th/34 544
riu '.I IL) 844 • 864
11193 A-0
Chic& Kill ref & imp g 48 19651J• J ,
Regiutered
9414 sale 914
9414 6, 94 18 15
lst consol g 6s
Adjustment g 4s
11134.4-0 127 l2816 12 / Jan '1U .... 127 127
411115 Nov
92 Jai,'10 ..... 94
,,,2
0‘0
4 ...6!
1137 M.N, 1124112; pup Ai.1.
.
.
1.
2.. 113
92
General cousol 1st 58
Registered
41115 Nov
in 44 salt. 94%
914 3 944 9434
1937 ./.1-N'
Registered
41995 $1-N
Stain nett
Chio & lud C tty 1st 38 1936 J -J 112 113 112% N"'"
Couv 4s issue of 1U09-1935 J-D 116 117 115 Feb 11.) ...- 116 116
,
.1-1) Iltil.1 Sale 115(4 1113/8 151 114 12278 Chicago .31: Erie see Erie
COW/ A 4/
41 02 115 12234 Olnc•lu & Louisa 1-el 68. .1947 J•J 1284
/
4 1181
1294 43, 12841294
129
10-year cony g is
1917 .3-1) 118 sine 1171
111378Sep 'th/ ...• ....
1114 Dee'00
Refunding gold 5s
1147 J • J ,
Debentures 4a Series5 1010 F -A
1164
98.b Dee 011
00
3 ,..i
.14
inju
1.1:8
,
111,
00
44 De
Louisv IS A &(At 1st 68.1910 J -J1 10
4 .1'11004 1904
Series
1913 F
11
uti.,
9'/ Sep 'UV . ...
Chic Ind & Sou 50-yr 48..1956 j-J
East Okla Div Sat g 48 1928 M-5
10
10
4
1
1
sap,
9418 27 111
91(4
-J
1968
9434 eineAlii if. sii /2 term g us 1014 J -J 1u3 104 4,10;34 103, 6403 1034
Short Line 1st 4s g
1104 Oct'00
ittuls 71 91781004
General g 48 series A..:1
JiJ
j; 3
101
1,(
7 6 100 `s1 1110
S be Pres &
ist g 68 11142
80
1.0
16
11034 Oct'WS
Registered
Atl Knox & N s'ee L & N
9636 96
06
87
1.104 8 I 0314 96 4
884/ 054
5811 2, 884 884
Generalg 34s aeries ii.e1136u1J -J
Atlantic Coast Sat it 48.41852 m.s
. I....'1
10.1 Sep'09
..
25-yr deben 4s
1934.1-.1
93
lij'.A' 113.i
93'4 38' 93,4 9334
Ala 6111 1st sti gold 5s -11328 ,11-N 107
94
.1984 oci '01
1614 J.tie'l/13.
...
Clue & .L., bil Div g os....19211,J-J
Bruns
W lit gu g 4s _19:38 J -J
Chic & Mo Riv Div 38_1126'J-J 10034 110;1 110.4 Jan'10
Charles & Say 1st g 7s 19313 J -J
1101
/
4 1101
/
4
0478 sale 914
95 523 914 9536
u
oti.:
03
72;
.113
L N cell g 4s
01952 M.1.1
Chic &Pac Div 133
1910 J -.I :
11812
127 J'ne'01, .. ;
Chic & P W 1st g 50
1021 J..1 103 . bale 1108
03
1 108 10834
Say b' & W 1st gold 6s..1034 A-0
112
114
104
41,004:NAos::00,1
1124J'Iy'111J.... ......
Dak& Pit So g Bs
1st gold 48
1934 A-0
19113 J -J
111'9
174 Pue'uti
.....
Far & Sou assu g 68
11/241J -J
Sil Sp yea & gu g 4s _1918 J -J
II ast & D Div 1st 78
11110 J-J
Atlantic & Daily see South Ity
Austin 04 A W ate Sou Pacific
9214 Sale 024
92% 15 ; 91
str5
os
sse & D 1st 58....1
LalC
pan& Ohio prior I g 342s.11125 J • J
92%
19
91°1J
9 j:1
1.104
914 Oct'09
4 1U"111.11
cuttviu
i li0
1.
U00
0-11
/
48
0'e
uj ....... 100;1004
Minerai Point Div 68. 19101 J -J 10 1: i2
11, Registered
111925 14-J
/
4Sale 994
111.1.6 49 , 984 DR/4
So Minn Div Ist 63
Gold 4s
/1.11/48, A-0 901
•
99
9178 111 118
Minn Div
KV',
Registered
41:348'11•2
AWIiIIINti
L
g5
6
:
:
.
.
:
1
1,
1'
U21
110
1
'
)
!j
j...D
jj 1004 1 130 12'1
120 Oct; 011
'
.
:
311,
4'
Ai1.1.e
cLuli:P
.110
10
1o1o
0
5
i.
.
.
.
1 1
105
00:4
Pitts J duo 1st gold 6s...112212 -2 lOs
4 105
0%
4
1
1
I
t0$'s
1st cousol 6s
PJ
& Al Div 1st g 34,41925 M-14
v2U4
U 1111 92. 93
9
88
23
'2
8 913
31
4
4 6
1,16
241159
1..3
Chic & Northw cons 74....1
-V, 112 113 113
'Id 113 113
Sys ref 4811/41 1.1-N
11214.
PLR& W
U0;
908 90; 00's 3' 901
/
4 91
Extension 4s
101 jati'1U ..... 9934 101
Southw uiv 1st g 3444_1125 J •
1886.11/26'k -A 101
I 904Jan 10 .... 1 tiu 1g 901,
a1.118
Registered
Registered
41025 14•J
,103 Jim UV ....'
1U
98
26
71t..fst
A
8568 8:.1 "
General gold 343 1866-1
1 88
U31."
4 1Y
Cen Olive It 1st g 443..11130 M-S 103
88
'
'°
'4 0 8834 894
934 A pr'tiu
Registered
01 Lor & \V con lac g is 1133 A-0 113 113; li3 Feb.10 .... 113 113
pi187114-1?
10578 b'eu'ui,
Sinking ithut t18-1871-1921) A.0 111
111-', Jan'10
Motion itiv 1st gu g 5s..111111 F-A
..
.
...
Deo1151
1112
114
112
2-1)
Registered
Ohio River Hit 1st g 58.1936
%934:1
Sinking mud 5s...1
°
0
,
,
,
V
Y;
1u
Ul
.
1(
0
.10
:111
:2
4 1N:I
1937 A-0 105 1104 112 Auv'ull
Genera, gold is
9.
.r1/211t-O
18111
0, 110 1
Registered
1879.1.132VA-0,
Pitts Clev Tel 1St g tis 1922 4-0 110 116 11914 .u.ai'04 .... ...........
•
98
984 Sep'09... ......
Debenture 58
Pitts a %Vest lit g 48 1917 J -J
100 Nov'04 .. 1
Registered
Stat 1st ity 1st gu g 448 1943 J-.1.)
1
11,01.
9' 11111
A1..- O
NN' 106 10734 1
111:
v
51 Z
uubb
Debenture 3s
.:4:6
.52 joiR)
& 11
1.
0
e.':°°
Beech Creek 0e8
Y:
,
,
31u
ItegIstered
Bellev & Car ace Illinois Cent
1
1), 33
1!ram
A ...-1,,
0
,
i 411129,0:593:48 ti..0,1;41
.1:0iLiv,4 j,l
iyi,1:
1
0
u.,
0,
Sinking I unit deb is
Bklyu & Montauk See Long 1
Registered
Bruns .15 West see Atl Coast L
North Illinois 51158....1.9101A-S.
di Erie see Erie
Bultalo
U
Ir .36,iaPi 'it
Mil 1, a (v. West 1st g 64 1921'M•S: 116
Bultalo 1134 P geu g 58-1137 V•S 113 1114 1144 Feb'10 .... 11376114'4
ii(P8116%
:141.413,441,1/Leue:042J
Ext & Imp a tuud g os 1929 F -A 11176
Consol 448
1157 M-N 108 109 1094 Jan'10. . 1018 IUU le
11118 1394
Ashland Div hat g 68-11123 M•6
All ea West 1st g
gu 1908 A-0
12.318Apr'04
••••
1204
J'iy
'08
103
Mich
Slab
1st
Div
gu
g
1st
&
g
Cl
613...J943 2-J
6s
1921 J -J
1034 .via)'111 •.•
incomes
Roolt & Pitts 1st g 6s 1112I F-A 1164118 ,116 18Devi00.
1911 M-N 10U
811 /.4 Fel/ 10.... 110;11178
• Consul
Chic Stockist & Pau 6s 1117,J - J , I/178113,
1922 J•0 116 119 .1204 Augq/1
g
1
4,
.
g.0,,,,ii ...i; 08./
3:Auu
.
-, Lit Itut6
dp.,Noruui.
J
72
8814
&sing
Sat
46411161
Bull
ret g
Registered
11117,J -J laie
99
Bur U & AN See (.;
I&
General gold 4s
1988 J 4
1
11834 Feb'10 .••• 987 98%
'tau Soler, ex t 63
1913 .1-2 105 Sale 11478 10541 12 101%1054
Registered
1988 J•J '
014 64 904 92
.1913m-8 1100014%102 10134 10134. 6 101''J 10134
k.dfld Os
Refunding g 48
1934 A•0, 111 14 Sale 10%
Registered
Coll trust Seriesti 48 -Mt/ M•N1
1913 M-8
100'4 hiftrin
irP4 tu°
J 4s
Carb & Shawn See 111 Cent
1112 M-N
1144 Jun 'iu
9514
944A 9412
Carolina Cent See Seab Air L
M.8
1916 M-N
Carthage& Atl See N
&it
848
1916 M-NI 94.8 1678 11 Dee'0./
1,108
1144 1/00'10 .... .
1/41
/
4
9444
Ceti E. la & IV See BUit&N
04s
19171m-N'
•
Irak&
P45
•
1918 M-N
Oen Branch Ity See Mo Pao
51 • .1.,3 7844 8374
81.1:46ale 804
1161
,Feb'01)
Cent of Ga ER 1st g 6a..p11145 F- A 113
Chic El & Pao RR 4s 200251.N
ho', 0 81,34 80
8034
Cousol gold 58
10838 101
Registered
1945 M-N 10838 10834 108% 039'10
2002 M N *81
10.14 ffeb.10
102,
8102 1u
Registered
113 Aprluti
Coll trust gold is
1945
1113 .11.9
84
854 85 Feb.10 .... 85
Bur Cell It ..v4 Northernlat pret income g os....p1143 Oct
88
1
1
84
81
813 Jan '11.1 .... 88
Stamped
Con 1st & col tr g 68-11331 A-0 1134 111581114 Feb'10.... 114 114 11
88
75
79
81 Jan 'IU .... al
1204 Marl
Registered
2u pret income g oa....p11145,0ct
8434
1934 A-0
80
; 8334 8334
'75
ORLY&.N W Istgu5s.19111 A.-0 1(26
111 Aiov'01,
25 plot income g Os stampedl
8334 Jan '10
80
711 .b'elP10 -.1 79
75
82
M & St 1.1st gu g 78-114271J -D
3t1 pret income g bs....p1945Oc1
......
I
•
...•
MA;
•
g Irus,;:'VI?,
1
19,0113.
. . ,, ,,J..1.0.
t
1.'.f V.Y.:2
MISCELLANEOUS BONDS-Continued ou Next eage.
Street Railway
Brooklyn Rap Tr g 58
1946 A-0
1st refund cony g 4s
2002 J -J
Bk City Ist con Us.11116 1941 J -J
Bk 4Co& 6 con gu it 53 11141 M-il
Bklyu Cu El lat g 4.58 1950 F-A
Stamped guar 4-3s
1950 F-A
Kings Co El 1st g 48
19411 F-A
Stamped guar 4s
11413 F-A
Nassau Elec g-u g 48- 1951 J -J
Conn Ry /fa L 1st.% ref g 44s'51 J-J
Stamped guar 41...s
1951 J •J.
Det United Sat con g 448 11/32 J -J
Havana Elea consol g 58 1952 F-A
1936 A-0
Inter-Met colt 4 '.18
Inter Rap '1' 3 yr conv 68 1911 M.N
11152 M.N
43-year Os Series A
Intermit Trao coil tr 48 1949 J.J
Manila Alec 1st & coil 48 1953 VI-S
Street Railway
771) 784 jan'10 .... 7814 7834
104 10478 Met St Sty gen col tr g 58 1997 F-A
04
Ref g 4s
'2002 A.0
82
87
51 Feb'10 ...• 51
u016
1 ,2092
102
Sway& 7th Av latcg 5s 1943 J -D
103 1031,,
1024 101 Jan'iv .......... 1.0
Col& MA Av 1st gag 68.111/3 M-S
0:1/0
1%)--. tieui
0712 10
011,, 10
Lex Av & P 1st gu g 5s 11133 11-S
4103
101.
Thud Ave Eli con gu 48 2000 J -J
6514 35 64; 61/4
102 1024.
65's 12434
11834
Cent Tr Co certfs stmpti.„
64 103 64
844 85
65 Sale 614
107
11 107 108
Third Ave Sty 1st g Os 1937
1064107 iu 107
8334 85(4
87
2 87
87
N Orl Sty & Lt gen 443 1113J J -J
874 81
81378 82
87
St Jos RyLtil & P 1st g 68'3 / M-N 10
:18 Nov'08 ..
i lou1/
7% D
10141014 St Paul City Cab con g 46.1937 J -J 107%
5.1
10
t. 974 99
1/1)
Tr -City Sty & IA 1st a f 58.1943 A-0
82
82
1/11 Sale 1. 14
underground of Lou
04
18 Apr'09
93
101
.11-N
85
85 16 71 834 854
794 8314
44s
J-J
Income 68
1024 104
34'. 32 Feb'10 .... 32
11148
34
;3
th3 ..
1024 10376 Union Al (01110) 1st g 5s J1149 A-0
United Rys St I, 1St g 48 11134 J -J
82 ...... 5234 Fob'lu .... 824 8234
United Rita San /Ts( 48 11127 A-0 71
73.34 71,*
12
21 714 74
*No pric
4
-Fridayi-latest this week:-IfFlat.
---ADue Jan a-Due Apr 6Dae May' --o Due--J'ne-ADue J
k,nue Aug-oDtie Oct p Due Nov s Ontion-Sale
3
104
10438 101
8378 /07
83% Sal,. 8278
1
104
104 Sale 104
994 Mar'09
10234 211
102% sale 102
100 103 102 Feb'10 ...•
bl
84
8334
834 Salt 5334
1
80
5078 Feb'10
78
10234
102% Nov'09 ••..
10112Sale 1014 101(4
1
82
82
82
13
921
/
4 91 ite 94
94
1
5238 Sate 80%
8214 790
103 Sale 1024 10316 38
103 Salt 11/214 103
88
65
70 Sep'09
88 slay'43E1
••••
......
.
FEB. 19 1910.1
•ts
HON Ds
1'4
76
,
N. Y. STOCK EXCHANGE *4.
WEEK ENDING FEB 18
414,
New York Bond Record—continued—Page 2
Price
Friday
Feb 18
Week's
Range or
Last Said
t
Range
lithos
January)
BON D.,
N. Y. STOCK EXCHANGE
WEEK IINDINO FEB 18
489
1,1 Range
1:
Week's
Since
Range or 3 -a.
Last Sate -44 January 1
Price
Ahrtaay
let; 18
tg Alb,/ Lea' Ji ton
ASK Low
Rta
Erie--( Con)
10316 103%
105 1U3 4,.; all 1,
N I a, Green I, Ku g 5s.1946 M-N
61 Y Sus & W 1st ret 53 1937 4•4 10176 le7 104 Jau'I‘,.... 101 104%
......
6 Dee'061
1937 F -A
1.2;100,
20 gold 4;Is
14.1
J au 'I 1....1 a0
1940 F-A
General gold 5s
11412 Dee'Ut3
TOMMIE!'1st gold os 11143 M-N
Regis §5,000 each 1043 M-N
. 100% 100; Feb'10
100,
2 1.01's
Mid Itliot A J lstg Lis-1910 A-0
Nov'ou
Wilk & Ea 1st gu g 58.1012 J•D 101 10516 105;
114 vet '011
Ey& Ind lateen fill g 6s..lint; J-4
Erie & Pitts bee Penn Co
......
Evans &I.' 11tH cons 68.1921 J • J 1123.2115 115 Dee'09
. ....
10.04 Dee
11/42 A-0 101
tat general gold 58
pr'0.5'
109
A
114
A•0
Mt Vernon ist gold 08 102.;
05 J'ne'utt:
Sun Co liranen let g 63 11130 A-0
1,,argo & so .See eh M & St I'
1' lint& Pere al ,See Pere 51ar
Fla C it Penin See a Air.Lme
105 Mar'98
Fort St U 1.) Co 1st g 4,2s.1011. J4 83,4
86 Feb'10
87
Ft W& 1O Ur 1st g 4s...11/28 J-0
g ,at liar dc N A kiee Sol:ace°
1/7
Oral 11 & il of 1882 lst 58.1013 A'0 1/5
Georgia & Ala See sea A Line
Ga Car de Nor .See Sea A Line
Georgia Pacific) bee No ity
Gila V G de or Ses So Pali Co
liouv & Uswegat bee N Y Cent
Grand Rap& Ind see Penn RR
Gray's Pt Term See St 1,6 W
9676217 9612 9776
Ile% Sale 96%
tit Nor—i;13& Q coli tr 4s 1021 J•J
95i.
904 :3 1/5,
4 05%
Registered.A
11121 04 'JO's
10114
Strain 11 & Alan 4s
1033 .7-3
127% 128; 123% Jan '10
1st 001180i gold 613
120'4
Registered
107% 1
07,e Ali
3 32
o7% 2'10714 ION
lr'
Reduced to gold 41-01
:33::13:jj
1/33
199
1
A
Registered
10331J-0
Dakota ext gold 68
1910 17l-N 101
It
:
U
,
'
6
311:0
4:
718
:
1
0u00:
10
11
98:4 10:1
0
:'11/
2
5
a .
u
1a8
Mont ext 1st gold 48..1937 4 -1-,
4
'
Wu% Oct'06
Registered
1937 J-D
tt MinnNorDivIstg 4811)48 A•0
1 31 31)134'412
42" 114;aeu'10 .... 113 114 74
Minn Union 1st g 8..11122 1 - J 1114
3,8 130 1120 NW/0.... 12a 129
18
Mout C let gu g tis....11137 4- J 12
1304 .a.)'t./0
Registered
1937 0 -.),
4 1137aFeb'10
Ii3.61131a
1st guar gold 5e
11)37 0-0 113 111,
110 J'ne'u0
Will 4:111 8 F let gold5s 1038 4-D
Greenbrier Ry See Ches tis 0
178 Jan 110
03
114;i Ws
Gn1/&S.1.1stref&tg 58 51052 •14
0an & lit Jo See 0 B de 14
1:1-ousatonie See 14 Y .N tide li „
Hock Val letconbolg412e.1990 0 -.I 103.6 104 103% 103% 11 102 104
Registered
19911 j•J
0
16
FeePU:u
19T2S
1)5
1/6
Col & Ii V let ext g 46 1048 A-0 05'4
1,51, vt.)
904 toU'Ut)
....
11165 F-A
Col & Tot tat ex 4s
Monet E cfe W 'Tex see so Pac
Roast de Tex Cen bee So Pac Co
105% Jan '111'...J1105.4 1054
I 11111018 Central tat g 48-11151 J•0 1054
107% a 'u7
I. Registered
11/51 44
ct!.
'
I
al
1)2
112 relo'10
1111
Ist golu 3,23
1051 44
Del Lack & Western—
A etspy:u
4 6L
1u/3
Registered
11/51 44
Morris A, Essex 1st 7e 1914 M-N 111 113,6 111 Jan"0 .... 111 11114
A-0
Jan
114
'10
114%
111%
11416
11151
Extended
g
let
3
'28
11115 .1-1)
latconsol guar is
...
1 tat) j'ly'va
127 J .1101.n, .... i.......
let gold 3s sterling
10511M-S
1915 .1-1)
Registered
Bilk( bale 1 09% 17,0% -4 LYN /00%
.. 91 Sep 'o. .... ...... .
Coll Trust gold 48
2000 J
1st ref gu g 3 125
113% FA; 110;reu'10 ...., 116% 1170v
Registered
•J
J
11121
tis
1st
W
61 Y hack
% 2' 98', 914%
8
'
e
11%j'nu
9876 sale ! 11.15
1st rer 48
1023 F-A led 11012 110 .., Felo'1U .... 110;110;
Construction 68
1.00 100.6
110 1110 1100% 1110%
141 16
eue, Dec'oli ....'......
L 64 0 Je Tex gold 4s ...115
1923 M-N
3
552
5
Term & improve 4s
N
251N(())
09
tOi
I
Aloro7
Registered
If•A
21/00
gug3128
Warren let ref
156,2 88.9
li
r viou
)ti
„n
J.,,ap
3,2 A
0
.23
,,J1i/rutj:U
0
.,:r18
1.U
.11b
1 .7...'120% 12076
10
D
3AJI--N
Cairo isrutge gold 43
60
Del & lind 1st Pa Div 78 1017 51-S 117% 120 1
115
13
1
149 Aug'ul
1.117 M-S
Roma:Remo
LoutsvDiv&Termg3128.11/631J-0,
Dm%
102
ban.
8
1/93
50
1007
100'1.
4
Middle
Div
reg
Os
J-D
k.:11/21!
11116
.
I.0-yr Cony deb 4s
711,2' 70 Apr'ua
75
1951'r-A
Omaha thy 1St g as
1022 4-4 10.2,, ;au, 102; 104% 13 10176 103
let lieu equip g 4 1-os
100% 34 LOP% 10U; st Louis DiVcfc term g 33 111511 J -.1
79% Dec'util
....
11/13 M-N IOU% bale 100
let &ref 4s
a0
1,8;
ti
97
In
711
%
100%
1.1-J
96
111
Registered
51,
,
l'
1946 A•0
A.lb de Sus eons 312s
' 81) Veli10.... 55.4 59
130% 130% 2 120% 13014
Gold 3128
4
'
19514
Rena A; Saratoga 1st 78 1021 M-N 12074
14)1 13 yet 'iwr
lj
Registered
,
1051104
Del Itiv ttlt Bridge bee Pa 1811,
iii ,.., 80% 100 A ov'util
06
Spring Div 1st g 3,28 11/51' 4-..
97% 96%
,„,
96
4 5 . 9.°
'
7 9 97
Deny & lt Grist con g 46.1936 J -J
104; e'en '11.1 . ' 1034 104%
Western lanes 1st g 4s 11)61!..,-... ill:: 111) I tld Nov'ti
1936 J•J 101
Consul gold 4',s
13ellev & Car 1st tis
,1
4!
1023 _
Improvement gold 53_11/29 .1.1) 103 104 102', Jan '1U ....' 102% 102%
1/1 bait, 91,/6
Carlo & Shaw let g 4s 11132,,..•0
91
470 0234 9,0a
.. 96
1955 b.-A
1st IvIll lining fel
1UU
ub:1
eeb
k'e
I
9% 1
17
°111-........ 11'
°38
16
'
91% l
18
11'2
ud Feb'Ut,.... ......
(Ant/ St L& .N U g 68...1051: a '''-'
gu g 5,1 11/31) J •D
J illie
Rio
11(3 118 !lib.. d'ilia'oal
Deu'Ou
78
80
Registered
0•D
1051'
,040 J • J
1st: gold 48
1togt
' .J0 Oct'09
79
83 5lat'os - ...
Gold, 341s
11110 J -J
Gum:tweed
'100 .M.Zir'Ob . .
as
4
94,
04
a3 Fe11.10 ., ', 03
blemph Div 1st g18 r1;31.
51 1:11
° 11576
11139 J -J
Rao ur West let g 4s
1 05 .Ply'05
84% 1
.11 83
81%
St L Sou 1st gu g 4a. 11131M-S
age and cot trust 4,3,1 11HO A-0 8.3% 5.1% 53,2
,'
4)7 Jan'02
Ind RI& West bee U U C-O,St LI
Utah Cent Ist,gug4s a11117 A-0
97121
le
96
05 Jan '10 —.II 08
99
ill&
Intl
J
Ia
4s
g
let
7
,,10.
11/1,
at
Des 5,111A: t 11 see Al A
110‘..) 510:P911034
49ale 110
int & Great Norlst g 68..10 11''
110 Sep
,N 110,
,
ity 1st g be 1017,M-N
Des 51o,
2
96
2(1 gold 5is
0 ....' .../776 9778
:11)4
lutdAl-S ...... 108 lu i ,v Jan 10 ...... lea% 107,
Dot & Mack let lien g 4/3 111115' J-1) 115
Itil .,,t 1U8 10714 107% 44 10,7%109
91
1 tii
92
ul Jau'lu
'rrust Co eertfs
10105 .1-1) 90
Gold 4s
35
35 YoU'Iu .... , .1
25
&Lwow 4,s
1921'
Detroit Southern—
106% 10572 lfea'lu .. .' 105'2 106%
71%
74
74
74
41 72
Iowa Central 1st gold 66..1038 •,-,-' 106;
Ohio Sou Div let g 4s 1041 M-8
76's
6 74
.
2
75
75 Sale 74
Gold 48
111%111 Jau'10 .1 111 111
11151 M'S
Dul& Iron Range let os 1937 A-0
10012 Alar'ub. "
tA da ti It bee L b .Y. Ji b
11137 A-0
Registered
.)
Mien
bee
U
kJ
&
Tol
-J
J
11/16
2t1 68
UK0 Let6& Al See St L & S. F
Dui Short Line bee 21 01' Pao I
I 99
losi,
09
99
E. C& M it & 13 bee st 1.& S li
2 09
Del So Shore & AU g Os 11137. 43
Kan C & regale beg Al E & T
&
SIPoi
L'ast 01 Mona bee
74 J 17 7238 74
Kan City Sou let gold 3a..1050 A•0 7314 7414 73
Caaio.
Va & tia bee so lir
„,...!113 Dec'01/
63 Oct '0
Registered
Elgin Jul 01 Last 1st g 58.1011. M-N
102
WV*
102.4'
102
30 102.103
U
°
A
"0
1930
68
impt
&
Het
Apr
Elm Colt Ao bee Dell A; A YI
101 Nov'Ull
KeuLucity cent ace L.
Erie let t gout 48
11/17 M•S 101%
,,
. Oct 'UV
101ii,
Keok J., Des Mo ace C 11 I&P
2tI ex I., gold os
11112 M•S 1,678
104% -,.,
Knoxville Ja Ohio .See So liy
'05•
3d ext gold 4 123
1023 NI-6 10.i
1 111 12112%
lull% Jan '10 ,... 106 14 106% i alto Erie de W Iiit gull-10:17 J -J 110 11'234 111 12 111%
1.120 A-0 1116/,
41.11 ext gold 63
10612 16(3', 1064
Jan UP
ii'l
1 10612 1011',
1.4 2d gold 5/3
1.123 .1-1) 19'
5th eV,gold 45
120 , 2 120 122'u
j 1013D4 101134 1102 b'eb'l .... 110 112
t:O
j
u41,
North Ohio 1st gu g bs 19
11/20 M-S 120,,-6 122'8 12'
1st consul gold 7s
....
11
1k0 1-44 Aug'110 .... .
L Silo J. Mich 6 isee N Y Cent
1920 31-5
1st COLIMA. It tuna 7n
S7'a Leh Vai .5: Y 1st gu g 4724.1040 J -J 10714 1083,1107.4 107
51 44 7 , 8-4
. 2 10734 108%
a 1. LA 54% 51
Erie let eon g 48 prior...11W J -J
"
107 42,107 Aug'01....."
81 Nov'01.1
04
Registered
Registered
11/06 J -J
in
..1 1 1,0'a Is?
707n Lehigh Val(Pa)cone g48.2
UN', UtiluJan
201 'i4
76 1 '15
71
,1:11
j
113,4
1040
let outlaw gen lien g 46 11.9JU J -J
'1-.1-1 115%115%
Len V Ter ity 1st gu g 50.1,1411 A-0 115.4 Sale 1-15.4 115%
Registered
PoUti .1-4
115 11111 12 Oct '110
be%
Registered
85 I 8 8a
Penn coil tr g 48
11151 F•A 85 biliki 85
108 Nor'09
Leh V Coat Colin.gu g 58.11.1
WI
75% 47 ' 75
:O 1074
JJ
133
04 11'1.
11153 A-u '10% sale 1 76
50-year cony 4, A
95
.,1 Y let guar g 1s 11145'51•S
,
115 Jan '1.0 ....1 05
73% Leh des.
113%
72 156 08
do
Series 13 11.1513 A-0 70;bale 6076
05.s
Registered
u
A-S
Bull A if & Erie 1st 7s 101t3 -D 113% 115 11376 Feb'10 .... 1137, 113
5/ 51
1J
L11/4
.
5 /01% 10172
10144 101
, liae&N 1St pi ti,
4
/
1014 A-0
Clue de Erie 1st gold 6s.„111:32 M-S 113 115 114 76 111.1, 3 113 1111
Gold guar os ee ceuL
10114 Sep'0.
0 4 v
Clew & Mallon Val g fni.11/384-4 7 1014 ...... 121 DCC'ini ..... ...... .
Leh .1e liud A b
12/ 126% Dee'ot.. .'...
Long Duos consol g 65 11135 A-0
Leh es WilkoW1 See Cent el X J
113 :111 J'ne'td.1.... ...
Coal& RR laL cur gu 68 1922 M-N
Leroy & Caney Val bee MO P
1.04
Dock Se Imp 1st cur 63-11113 J
103;Vet 'U'd.
—
111SCELLANEOUS lIONDS—Cuutinuca on Neat l'age.
---— —
Gas and Electric Light
Una and Electric Light
1, Li. ea
NYG
102
102 103%
g581948 J -D 102 Salg 102
Atlanta G L Co Dit g 5s...1947 J -D 102
83
Purchase money g 4s...10411 F-A
b376 bale 83
84 72
83
107 107%
likAyn U Cies lst e,on g tis.1114C/ VI-N 107 107% 107.6 b'eb'10
1
El
Ed
111
1st cony g 5s..1010 VI-S 100 100% 100 Feb'l
A-0
100 100%
1047
os
g
tat
04
Gas
67
Bultalo
7
61
66
1 10
64
66,, ,', 10
let consol gent 5s
110 Jan'!
IU 110
1032 J-J
Coltman's Gas 1st g 5a
0 t'-a
33
99
1:1
4 We%
/
trIA
l 1081
1,023 4...1 1111 101,6 101 Jun '10
Y&QE1L&P 1st con g5s1
101 hale
Detroit City Gas g foi
N Y & Bach Gas 1st g 58 1921
07 44 J'ly'u
1/7
9536 sep '00
Det Gas Co con 1st g 58 11110 FA
4,1:1
MS
Pat & Pasta 0114 eon g58.19411 1
No v'
95%
jar'
1Cq U LN Y tat con g 15s..11/31: .11-6 105% 107% 116
Veo Gas & C let con g tos 10
7 A-0 118 119 1118434
43
1)1
Gas&
)
1 18
118 119
61% uet 'Ul
Elea berg Co c gbs.1040 .1-1) 1.11)
Refunding gold 53
lt.14 Feb'l
104 104
101 luU Oct'09
Ur Atop U L Co 18t g 68...1015 F-A
& Cke 1st gu It 5s 1037
Ch
104 104,4
Mit 104 76 lieb'l
1034 Jan'10
113% 103%
Hudson Co Gas tat g 58..1140 M-N 102'1
t:on Co of Ch 1st gu g 53.'36 ..I-.S
6 1?/3118,1
101 LA 102
IOU 1lay.011
Kan City Ole)(Jae lat g 581922 A-0
And Nat Gas& 01130-yr 5s'36
kings Co El L.& 2 g 6s...113:3'i A-0 101 103 10 I La Sep 'Oa
all- N 101
Mu Fuel Gras let gug 68.101-: l'
ulE .1.
01
90 11(Pte
112
11/1.9i A-0 112 116 112
1 112 116
.
Eurolutee money tis
87; :, 87; 571.2 Syracuse Lighting let g 68.'31
09% Nov'19
6
87,2 bale 07,
Ed El 11 Iiiin latcong 48 1031. 4.4
Trenton LI & El let g 68 1041.
110 May'05
Lactja0L0ibt,1,18t,g,36.6191a Q-b' 102% Salt 11,2.8 103
b 102%105
%1--i
4
i
116 Jan'00
Union Elec L& 1' 1st g 53 1931: .j
1U U
Ret and ex t let g 58
WW2 101
11134 A-0 11)0%101 10012 Feb'10
Utica El 14& 1st st g 58 193t/ J •J 1110
01%
Milwaukee Gas L lat 43..1027 M-N
1.11%
91% 02
91%
1,6 102% 10212 51111A10
.....
Newark (ton Gals g 6a....„11.141 .1-D 100 1083rWesteliester_kig_h_Vg g 6s_._19_5t J -D
IOC
*No Price Friday; latest bld and asked this week.a Due Jan b Di 0 yob d Due Apr e Due der A Due Ply k 11410 tug o Due Oct- a DatT.--iec s )ro.:tni
lila
Ask Low
High No'j Low High
Chic Hock & Pae—(Con)
I
Choc to IC
ti gen g 53.01919 J -J 101 106 102
1952 M-N 108 110% 110 Feb'10..' 110 110
Consul gold 58
Reek & Des AI 1st 58.. 1023 A-0 10316 Sale 1031a 1031.3 191,103%1031s
Chic St L & N 0 See 111 Cent
Chic St L & Pitts bee Penn Co
II
Chic St 1' m & u con 6s 10:301 .1 -D 126%126% 126% 120% 3,112672127%
..
03 Dee'03 --11
Cons Os reduced to 3%5 1930 J-D 0072
8'1. 13 127
127
127
Oh St & Minn lst g 68 1918 M-N 120
1206 May'09
Nor Wisconsin 1st 6s 1930 J -J 126
6 i14'8 1411%1141s
t3t P de 6 City tat g 68 11/111 A-0 114 78111% 111,
110 LgDet3.00
Chic& Weetlnd gen g tisg1932 Q-M
41 u2 42 vs
93
112N
93 Sale
Consol 50-year 4s
1052
J
Chic &
ancu bee Pere Mani
Choc U & Gull See C 1. P
4,2
1
113 Oct '00 ..
1/
016
Cln 11 80 D 2t1 gold 472s 10371 J•J 1(
1.00% 4 106;1U7 16
1
106 6
Cin D
g bs. .11.141'61-N
1st
4
831
M-N
C Find& Ft W
8
88,,
87 14
ika
'10 .....1 57
Jan
87¼
Cln & W 1st gu g 48.1953, J -J
105 103%
105 Feb'10
Ind Dec 80 W let g 5s 1935' J-J 105%
'02
21/ea
1071
.....
—.1
1035 J-J
lst guar gold 5s
db St L
L de c bee U
CI
See C St I,
Oln 6 &
I
Alali See B & P
UlearfiOnl
06,2 44 13478 96%
9512
Clev um C & st gen g 4s 1903 .1-0 00 Sale 0472
Aug'eu
1
94
1039
Cairo Div 1st gold 4s
04% 9416
114 42 Jan '10
1/4
Cm W ds .51 Div lst g 43 11/11.1. J -J
114
14
1)4
01 Sale 94
St L Div let col tr g 48 1990 lil•N
e '07
11 1 Oct
0
MO 51-N
Registered
lUtPn
0 1) c'99
Spr Col Div tat g 46-11140 it-S
,
98 Sep '00
02
W W Val Div 1st g 4/1 1040 J • J
11 105% 105%
L & C consol 68 1920 M-N 105% Sale 10614 105%
11 I
2
118% 93,
—.I
Ifell'10
6
4
,
1,8
08,
119
ic11.136' Q-F
let gold 4s
liti
08
a8
4 08
/c1.1136, Q-F1 98%
Registered
I
Sep 'Ou
Is
lua
1U8
g
I
•J
J
68-1028
con
Cl
Cin 6 &
I
102% Dee'ln,
1914' J -D 1110
00001 consol7s
1
1014' J•DI
Consol sink Lund 7s
......
.....1
Nov'tia
125
123
6
1261
tis
gold
J-J
11/34
consul
Genera,
I
19134 J•J
Registered
at J'Iy'UtO ....1 ......
& W let pret 48 11140 A-0
Ind
,
0 Ind & W let pt 5s...d11/38
944i
0416 12 92% 91%
Peo & East 1st con 48 104U A-0 113,2
14' 62
MS
67
65% 65
111110 Apr 05
Income 48
Cloy & Marietta See Penn lilt
Cley de Pitts bee Penn Co
81%
201 78
77,
79
79
2 '79
Col Midland 1st g 45
11712 13734 1)634
07% 16; 06% 9776
Colorado & Sou lat g 4e...1929 F-A
0012 00
99 :24: 97,
2 00
us',
1935 M-N
Reiund & ext 4128
Den 1st g 6s 11.121 J •D 113%113% 11312 113% 2 112.6 114
Ft W
tireeuv bee No Sly
Conlin
Cot Item( Val See Hock Val
Col & Toi bee Hock Val
I'erni• bee & W
UM um.
tionn & Pas Ltivs 1st g 48.11143 A•0
02 .... .....
1952 J -J 10012101% 'J6 Jon'
Cuba lilt 1st 60-yr 5 g
i
K
1
New York Bond Record-Continued-Page
490
BONDS
N. Y. STOCK EXr HA NGE
Wasit Minim, FEB 18
4;a
.
Price
Friday
Feb 18
I"11
Wcak's
Tits
Range
g-.
Range or 0
0
Since
Last Sale Peco January 1
BON
N. Y. STOCK EXCHANGE
WEEK Ennima FEB 18
11.2
..`4‘14
[VOL. Lxxxx.
3
Price
Friday
Feb 18
Week's
Itt...11 Range
Range or
Since
Last Sale 4:1
January 1
Bid
Ash Lois
Long Dock See Erie
nigh No Low High 4J Juno RR See N I Cent
Bid
484 Low
high No Low Nigh
112
112 Feb'10
Long tell-letcon g 6s h1931
112 112
g Y Bkin & Man Bch See L I
102
1i1931
let consol gold 4s
4 Y Cent& II Riv g 3%8.1997 J-4
90 Sale 90
9088 251 1 00
112
.D 97 97% 97 Feb 110
1938 J.j
General gold 43
07
97
Registered
1997.1-3
894 904 Jan'10 .... 90(4 9014
/
4 1001
1022 nA.8 1001,1011
, 10013 1 1001,100,
Ferry gold 41/48
Deben g 4s
1
1
934
M-N
68 94.4 9584
95
954
954
95'2
97
1932 J -r) 00
Gott 48
9914 Oct'06
Lake Shore coil g 3las 19118 F-A 81%
24
8012 8184
95
1949 M-S
951
/
4 941
/
4 Jan'10
Unified gold 4s
'; 94 .941
/
4
Registered
80
1998 F-A
80(4 80
8
8/11'14
158
4 6 70
8014
109% 1041
1934 J -D
Debenture gold 58
,1 ice'08
&Loh Cent coil g 31
81
/
48. .1998 F-A
81
81
6 7334 81
118
1949 M-S
98,
a 93 Jan'10 i
Guar rat gold 4s.
H 971
/
4 98
Registered
.1
79
, 2 7113
79.
, 110
, 793
Bklyn & Mont 1st g 68 1911 M-S 1903
,
Beech Creek let gu g43..11
.7 -4/1
1
9812
100 Nov'0:.
/
4
1911 M-S 1001
101.9 Deo'08
let 5e
.Registered
102 Mai'04
N Y B&M 13 bacon g 5s 1935 A-0 107
1104ov'06
2,1 got gold 63
107
N Y&
13 let g 58
1.(127 M-S 103
;
105 Apr'07
Beech Cr Ex t 1st /r 3/
1
:
-0 85
1
44brei:
Nor 8111 let con g xru5a 01932 Q•J
109 Nov'06
Cart S. Ad 1st gn g 4s. .1981 J -D
97 1,4 Apr'09
97 Nov'09
Louisiana & Ark let g 68.1927 11.6
Golly & °awe latgu g 5s 1942 J-D
Louis v & N ashy gen g 68 1930 3•11 116
Feb'10
116
116 116
Moh (fa Mallet gn g 48..1991 13-5
997
D
,etc:00
1
0
00
5 Ic
0,2
Liold da
/
4 Dee'09
1937 M-N 114%115 1141
NJ Juno it gu let 4s. .1986 F-A
Unified gold 4s
99 Sale 99%
1940 J -J
991,152 ; 98%1001
/
4
N Y S. Harlem g 3(4s..2000 M-N
98
u64Oct
91
4, O
Feu'1
i,
10
11
1940 J -J
golRegistered
99 100 1%10'419
N Y & North lst g 58. .1927 A-0 108 1121, 108 Oct '09
Sink fund gold 68
1910 A-0 1004
10012 Dee'00
N Y & Pu let con gu g 44 1993 A-0 984
.
1
1/8
98%
Coll trust gold 55
110 Jan'10
1931 M-N 110
'110 110
Nor & Mont 1st gu g 58.1916 A-0
/
4 1114 Oct '09
E H & Nash let g 6s
1019 P1.0 111 1111
Pine Creek reg guar 68.11/32 J -Co 124 130/
1
1
4 1311
/
4 Jan'11
LClu& Lox gold 41
/
4s-1031 M-N 105 106 10714 J'ne119
It NV&0con latext58.41922 A-0 108%109 4 1119% 109
1 108%1094
N 0 & M let gold 68-.1930 J -J 12474
1254 Jan'10
125 4 1254
Oswe & It 2d gu g Se...e1915 F-A
105(4106 Jan 'l/s
N 0 & M 2/1 gold 6a
120 Jan'09
1930 J
R W db(IT a let gu g 68.1918 M-N ibliVa 106.41
Pensacola Div gold da 1920 M.S 105', 111 108 Feb'10
108 108
Rutland 1st con g 4 4s..1941 4.41014
91
91
024 6 101%1024
1, 101
St L Div 1st gold Ss
1921 M-13 114(4116(4 117 May'07
Og&LChani 1st gu 4a g1948 J -J
1 91
91
684 75
M-S
71 HaY'09
211 gold 3s
!)
Rut-Caned 1st gn 948.1941/ J-J
01 32 02 J'ne'01)
941
/
4 954 944 Jan'10
Atl Knox & Cin thy
1955 M-N
94(4 944
St Law S. AdIr let g 58. 1996 J -J
'ne'09
115
J
_
.11
J'iy1./6
107
11.5
116
581946
A.t1 Knox Jo Nor let g
......
20 gold 68
1996 A-0
125 Feb'08
110 38.1009
Hender Mtge 1st a g 68.1931 M-13 103
Utica & Blk My gn g 48.1922 J -J
02
„1 „, 19
9 10,11.
1 14
4 Dec'
95% 96
J '10
Kentucky Cent gold 48 1987 J -J
97
9714
Lake Shore gold 348.-1097 J-11 91
1 914 924
L&N&M&Mlstg4481945 m-s 1054
1051
/
4 1054 2 10541054
Registered
9,08
:
s
D
8
92
.
m
J
/
1
4
,
U0
4
,
,
,
/
/,
Jan051i0
7
8
119
b ....' 904 904
2
1,
1
92
/
4Feb'10
911
L & N-South H Knnt 48.1952 J -J
911
/
4 92
Debenture
g
48
26 1144 95°4
N Fla & 6 let gu g 5s 1937 F-A 111 113 .111 Jan '10
111. 111
25-year g 48
86 114
Ws
N&CBdgegeng-u g 41
/
431945 J -J 103 108
1104 Feb.10
Pens & Atl let gu g tia 1921 F-A 110(4
11041104
K
Ma
fth
AotO
G'IRR1It
92
2:
431
4"le 10
j
J 11
etl
gst
u°
M
J --N
56
3.
99
4 oci.'
81 j
811
U4
04j
111/
993
7
9
34
& N Ala con gu g 68-1936 F-A 111 114 110(4 Sep'09
Pitts & L Erie ad g 6s.a111281A-0
100 Deo'u9 ....., ...... .......
110
93
94 Nov'09
L & Jett lidge Co gu g 43-11145 M-8
•.....
Pitts MoK & Y latgu 611.111321J-J 127
130(4 JAB 'lit) .... ......
L N A & Ch See I & L
2d guar 6a
19341
J
-.I
ttIahonCoal Se,e L & M
MoKees& B V lstg 6a 1918 J -.1 1114
974 97
97
ivkanhattan Ry consol 48 1999 A-0 97
10 1363
, 984
Mich Cent 1st consol 68.1909 M-S
101 Feb -09 •••• ......
104 Apr'05
Registered
1
1990 A-0
be
:115 Oct Ms
1931 M-8
9974 1)04
Stmpd tax exempt. 1990 A-0
991 12 98.4 991
/
4
Registered
"Ma
1119 / net/6 ••.. ......
Cent
aloK'pt & 13 V See N
1
1
48
98%100
99 Jau'lv
Mi
)
1 1--P•t
U9
99
874 Sale 974
53.ex Cent cons g 4s.
974 6 96% 971
1911
/
4
Registered
98 Dec'01)
31 Jan '10
I 274 31
2674 31
let cons In° g 38
a11139 I'ly
J
leL&8stg
t g3,21
8
3
48
1
1
.r
)
9
111
9
3
,34-s
jj
u784
961
/
4 Apr'011
2d cons inc g 3s trust recta..
.N
89
90
89
99 j'98
e1199 6 884 90
1
80
80 Ply'09
hex Internet let con g 45.1977 I/1-S
20-year deb 48
92
91.4
3 914 924
92
89 b'el.P08
1
Stamped guaranteed .197? M-S
Bat Ode Slur let gug 38.119)3;237191,114.--08 I"
i00,May'l/9
hex North let gold 68 .11/10 J -D
..
ChM&
1004 1001
St L 1st g 48 9
14 Y
A
/
4 1001
/
4 100/
1
4 13 91/7,1004
Mich Cent See N Y Cent
Regiatered
10/1 Dec'o'.... ...... .
Mid ot NJ See Erie
Debentures 43
Mi1LS& W See (Alio N W
West Shore 1st 4s gu...2
int
'
:
r:le
b la...
119
3
U
33
61
;5
11
32 10034 102(4
Ob St P
& North See ell
Registered
101)
2361 J-J
8 9934 100%
Minn ea St L let gold 7a...1927 J-D 128 132 132I,J'ne'OP
14 Y S. tireenw lailte See Erie
..
11
Paellio Ex liit gold 68-1921 A-0 109
N Y & liar Bee N Y 0& find
South West Ex 1st g 76 1910 J -D
1871- 1 101 101
10
18
0
'
1 jaln
N Y Lack S. W See D L& W
let Oonsol gold 513
1034 M-N 108 109 108 Feb'10
1011 109
N YLE&W See Erie
81
80
let and refund gold 48 1949 M8014 'e
.... 804 s1'- N IS.Long./3r See Cent ot N J
914 914 Jan '10
Des Al &. Ft D 1st gu
..'35 J.J
Ulat UP, N IN fi ea H-Cony 0 1948 J-J 131%Sale 1344 134134
60133(41341,
Minn Jis St L gu Seel3 4a..
R& N
Cony deben 31
2103 1004 102'4 183 100(4102"
/
44
1956 34 102,
9938 Feb'101 .... 994 100
89 100
51 StP&St3M con g 4int go'38 J.J
Housatonic it con g 5s...1.937 111-N 114%
1.18 Jan'10 .... 116 116
9131,Jan'10 •
1)8
SSM & A Dag 4iutgu 1926 J• J
98(4 US%
N It S. Derby con oy
----- 10 Aug'vt/ .... ......
1/18 M-N
Minn Un See St P
&M
Y & North See N Y 0
53.1N es li
987
,Sale 98's
Ito Kan & Tex let g 4a 1900 J-D
99 I 24 981,100
N Y 0& W ret 1st g 43..91992 11-8 964 97',I 974
971
/
4 7 961
/
4 974
864 86% 861
2d gold 4a
19,4940
864 2 834 87
/
4
Regis
.
,
11
65,000 only
10111)J'ne'ue
91992 M-S
103 103% 103Li 10341 1 1034 105
let ext gold 68
N Y &Put S'ee N IC Ceia H.
Sato
8,1
1St & refund 4s
2004 11-13
84
84's 22 84
85(4 N IS. Eli Bee Loug Island
Gene I 44s
894 8ale 894
1930 J -J
89% 19 881
/
4 1/04 N Y 8 & W See Erie
St L Div 1st ref g 4s
841
/
4 88 Apr'09
2001 A,0
N I Tex (lb Al See so Pita Co
Dal & We 1st gn g 58 1940
105 Oct'00
Nor & South Ist g bs
1011,11.015'10 .... 10141014
1941 M.11 101
90
Kan C ea Pao 1st g 48 1990 F-A
94
92
934, 6
1/3/
1
4 Nort ea West gen g 6s
/
4
Oct
11131 M-N 1241
••••, ......
10912
/
4110
Mo K 8.1 h let gu g 68 11.42 A•0 1091
1011
1094 113
improvem't & ext g 68-11134 F-A 1251
/
4 126% 126
01,
9
6.4 Nov:9
10641071
K
Ok 1st gu 68
/
4 Jan'10
/
4 1061
1942M' 106/
1
4 1061,
New River 1st gtie124
124 Jan'10 .... 124 124
hi K & T ot T 1st gug 56.19421 H-8 104%1054 105 Jan'10
105 105
N& W Ry let con g 4819
92
0 A-8 90'2 Sale 1 1/9
113
sif /
1
4 7,, 1184 1/134
Sher Sh & So 1st gu g 58.11143J-0 102
Registered
1990 A-0
ii.
4a
A/if:99
10 ..,..
Tex& Okla 1st gu g 53 11343M-S
.11105.41.054
1051
/
4 tlig4
Div'l let i& gen g 48...11144 J -.1
18" 92
924
1/3
9U647141
1
99273
4
j'IY9'4(
'
'kt4
109%
110%112
Feb'10
Ito Pacific 1st con g 63
....I
1.1121/ 11-N
109 11.0
10-25 year cony 48.
1037
,bale 103
1031
/
4 461109 1044
4.
8
/
4 102 101% 1011, 8 10141024
Trust gold 58 stampeti.a1017111-16 1011
Pocall (1 S. c joint
SW, 90 I 110
U0
11 1 89
110
Reglatered
104,
al11171H4 fe0
'
07
106
106 Feb'10 ..•.' 104.4 106
101 Salt 102
let Coll gold Ss
102
11 102 1011
/
4
Solo V & N 5.1st guligi4
jjj:-DN7 95,
2 96
4
85 Jan'i0
ob
:
s:
N
111908
4322211/J
95
95
Si I 15 ; 804 617
40.year gold loan 4s
914F1
111
-: 81 Stu. 804
915
, NC
o
rU
th
4b
Ill
T
in
lo
8
t
itl
i4.u
S
g
es
5C
8
964, Nov'09
..
ad 7a extd at Ve
1938 H•N
Norm Ohio See L Erie S. W
96(4
let & ret cony 5s tulip/1 195u 11 S /95 4 Sada
904 18 96
961
/
4
Pao-Prior hen g 44..1
.19
9
,
97
7'4
Q- .J,, 101 Sale 100% 101 161 100% 102%
Iups 94,2 NorRegistered
Jan '10
944 9434
Cent Br lty let gu g 48 1919,11-A
101(4101 Feb10 •
100(4 101
Con Branch U P latg 48 11148, J -1) 8014 8914 89 .9'ele10 ....1 86
86
General lien gold 3s.
/
4
73-, 69 72% 74
2o47
4-1
2; 73% 3,us 731
Leroy& VA Llstg 5s 1920 J -J
Regieterect
' 72 Febqu
a2047 4-11'
721
/
4 721
/
4
anr:kl t
100% 1
9,JUu
10
103
Pao ft of Mo 1st ex g 43.1938 F-A
100.4 WU.,
St Patii-Did Div g 48....111116 J -0
.
.
•
1......
964 bti Deo'th.
118 I 1 113 113
113 lig
2d extended gold 5s 11138,J •J
Dui Short L let gu 64..1916 11
IOU
/
4 109°3 110 Feb'10
St L Ir M& ligen con g 5811131'A-0 1091
1091
/
4 110
(.; B ea /4 cod tr 4a See(it Nor -8
1
1104111 813P '„u9
Gen con stamp gtil g 581931 A-0
St P & A P gen g 03....1923 F-A 118 110(4118 Det'ou
85
lJntlied & rot gold 41/ 1929 J -J
b7
86
6,t;
101 844 86
Regiatered certino's..1923 ig-F, 111] 119 119 Lan. 'U./
8673 87: 867
Riv & Div let g 43 11333 M•N
, 81
51 87
87 4
St Paul S. Dui let 6s....1931 .F-A 1121
,
1174 J'13'N-07
102/.2Jan'10 „ 1'1021
Verdi V 1 & W 1st g 58 1920 m-8
/
41021
/
4
2(158
10.34
104;801)'00
99 Dec'013
blobJ & K 01st cons g 53 1u531 J
let consul gold 43
116.2 iiti uct 1v1/
1
9
68
17A
J
--D
O,
Hob & Ohio new geld 68 19271J -D 140(4121 121% .re0
'
10
1201
/
4 1214a
Waeli Cent let g 44
1,242Jala 'kW
92
1948
ti-M'
let extension gold 68../i11/271 V 117
11734(Jet 419
Nor Pao Ter Co 1st g 68-11/133 *i -J 111
113 1)00'01)
General gold 48
UU I 89', 90
1938 -8 89
12 89
90
Nor lty Cal See So Pao
bioptgoin Div let g 58-11.1471F-A 111 1111, 11234 Oct'09
Nor 'dims See C St P .11. & 0
St L ea Cairo coil g 43..311/30
08
Nor & Mont Bee N Y Cent
Guaranteed g 48
95
1031 -J
9
78 11149r
i k Ind 33 W See c 0(.; 613 StL
8 115
116
hi & 0 coIl 45 See Southern
Vino Bay RR See Balt S. U
Atolut-wk &
SesPi (Jean
Ore S. Cal See So Pao co
slolIongalIelii fly See Li cto
ore Short Line See tin Pao
Mont Cent S'es St P
&M
Oswego do Rome See N Y 0
Morgan'8 La & T See 6 P Co
pats Coast co let g 58-.1046 J-D
108 1087
10712 108 Jan 110
,
Morrie ea Essex See Del Lea W
I. ac 01 Missouri See Mo Pao
ki ash Chat S. StI.lstla.1013 J-J 1081
/
41084 1104 Jail'10
1081
/
4 1104 Penn 111.1 let real eel g 48.11.1)19
Deo'09
104
110034,2
Mm9
9
-N
23
'
0
1
4
1.1 let consol gold 68
1928 A-0 110 111 108: 1°812
Consul gold 5a
1 108(4110
1u0/
1
4 Jan
Jasper Branch 1st g 63 1923 J-J 1164
1161
/
4 Har07
Consul gold 4s
1943 M.1,1 luU%
111cM. 51 W & Al lat 68 111171J -J 108
1174 Har'05
Convertible g 31
98
04 5100 101(4
/
43
1
11112 M•N 1001,11)1 10
4 10
90
9/
T S. P Branch let 68._. 111171J -J 1084
113 J'1Y
Convertible g 3/as
1/15
/
4 Sale I IAN
J- D' 961
1
1/7
In .:00 96
Nash nor S. Shel Seel:0s N
1
Cowen gold 43
104%
20 104% 10.168
11/48
M
N
1014
1041e
104:
Nat Rye 01 Mexpr 14/
1
48 1057
947
,Sale 947
, 05 I 9 033
Aileg Vai gen gu g 4s...11142 M-6
, 95
102.4, 90 J litet., I
......
Gnat gen 48
gyas Feb 10 „
11177 A.0 Et)113
D ft ft it& I/vast gu 48g '30 F-A
904
Nato( Hex prior lien 41
/
43.11/26 J-J .... .162.4 102 Aug'09
Plata Btu& W 1s1 g 43. 1943 M.14
104 Deo'utf
let Consul 4s
19611A-01 844 8434 834
84
17 82
Sou Bay as So 1st g 58.
84
241J -J , ,
106
New 1i&D SeeN INU&U1
U N J 1111 &Can gen 48.194CM-8i 103
•1031, lleo'i111 .
1 .7. 01%
I., 101 100 Ina...,
MISGELL kNEOUS BONDS-Continued on Next Page
Coal and Iron
Telegraph and Telephone
Buff &Susq Iron e I 5a....1932 J-D
.....
994 Noy'09
Am Telep S. Tel coil tr 4s 1921/ J-J
93
4 91
92
91
92
91
Debenture 5/3
a 19.:0 111.5
Deo'08
94
oonvertibie 48.
1930 M-8 1021
102% 184 101 105%
/
4 Salt to2
Cot a: Lw L Co gen s I g 64..1943 f -A
974 101
97 IfelP10
Mich State Telep let 58 1944 F-A
08
1/7
06,,stale 98%
/
4 00
98: , 981
Convertiule deb if 53-.1911 P.A
93
974 934 Deo'fit
A Y Teton let(11/ gen s 444.139 (I-N
98.4
08
98%
a 98
98",,
Col luau 1st& coil os gu..11/34 F-A
804 82
80
80
lb 78/
1
4 8214 Pac Tel& Tel ,f/t. Ss
, 1/0 11/ 08.4 We%
Id.) I J.J
0:178 Sale 987
Contin'tal0lets I gu 53 g.1951. F•A
1.07., Deo'04
West U Woe col tr cur 5E1 11136 .1-3
100
991
/
4
/
4 1001
jalt
Or Err Coal S. L.3 let g tis..1919 A.O
100 1021, Apr'06
Pd and real est g 41
/
4a 1950 NI-N
95% 87(4
IK)58 U6. 95% Feb lu
Jell & Clear US. 1 let g 64.11124 3.1)
107 May'97
Cony 4s, Series A
102
L. 101% 101.4
1936 M-N 101%102; 102
Kan& 110 ..i., Ulst stgils.11R,1 J•J
97
105;Dee'06
.i anti lite.tal ring A: industrial.
Pocall Con Collier lets f 58.'5; J -J
87
88 Sep 'Ob
Allis•Chalmare let 55
82 dal. 80%
193u J -J
79.4 847$
82's
Sunday tirethc Co g 68....1944 J J
73 FoU'07
Am Ag uhem let o 53
1924 A-0 1024 103 1,12% 103
lt, 101; 103
Tenn Coal gen Se
1951 J -J 102 104 103
103
'2 103 1041
/
4 Ain cot Cli ext 4(48
83
4
96.4
1916
97"
9-1.e
984
1161
, 98
Penn Div 151 g tis
al1317 A• u 106 Sale
i.in Hide S. La lait et g 6s 1919
t 1057,107
103
1 /4 100; 1112
1004101 , 4 101
Birna Div lat consol 6s..1917 J -J 103 1118 1.06
107 Jan'10
101 11/7
Amer Ice Secur deb g Oa-11125 A-0 71
714
74
70
7'2 td
Cah C M Co 1st gu g 63.192',. J •D 106
110 Jan'09
Am Spirits 511g let g6s-1915 M-S
J., Feb 1
95
130
95
De Bar C & I Co gu g133.1910 F-A
100 Jan -10
100 100
w fliread let cut tr 4s 1910 J -J
/14 Jeeb10
92%
9214 924
Victor Fuel 1st a t 53
1953 I -J
1.10
87 Aug'09
Am Tobacco 40-yr g 68.-1944 A-0 1054 sale L044 lob..
101'., 101 14
Va Iron Coal &Colst g 63.19411 M-6
99(4100
99(4 Feb'10
99
UV,.
4e.
86. i
1951 F-A
/
4
82% 834, 761
1
4 _854
76/
---.T-No price Friday; latest bid and-a31E0d. aD LIG Jan b Dne Feb c Due .tar d
Ant 8 Due J'LY kDne Ana o Duo .)et BDue Aar a Due Dee /Flat.
New York Bond Record-Concluded--Page 4
FEB. 19 1910.j
BON 1):44
N.Y.STOCK LXCHANGE
WEEK ENDLNO FEB 18
V2
-F.44
Penn Co-Guar 1st g 448 1921 J -J
Registered
1921 J -J
Guar 348 colt trust reg 1937 51•S
Guar 31es colt tr ser 13-11/41 F.A
/
48 1916 M•N
Tr Co certir8 gu g 31
Cu 348 tr etts U
1942 J -D
Gu 31es tr oils!)
1944 .4-0
Guar 15-25 year g 4s
1931 A.0
el 83 Mar 1st gu g 448_111.SO 44.4-N
C1& 1' gen gu g 4 lesser A.'42 J -J
Series B
1942 A-0
Series U 348
11)41 141-N
Series D3'8
1951)
Erie di Pitts gu g 34e 13 111411
J
Series U
1940 J • J
Gr It 9. 1 ex let gug 4 481941 J • J
Pitts It W 9.3 C 1st 7s 11112 J -J
2d7s
1912 J • J
3(178
(11912 A-0
Pitts 93 Ash let con bes.192 .U-N
PeCtdStLgu4,
38A...1940 A-0
1942 A•0
Series B guar
1942 Al-N
Series C guar
1945 Al-N
Series 1)4s gtutr
11149 F -A
/
4 guar g
Series E 31
1953 J D
Series 148 guar
C tit L 31 P 1st con g 58 1932 A-0
Nash
POUSSCOla & Ati bee L
Peo 33 East See4JUC&SLL
1921 4-F
Peo& Pek Un 1st g de
u1.921 M-N
/
48
2n gold 41
Pere Us-vim/He-Rut 48-4955,
lv..1 .4-0
O.
4.3119.
1924) A-0
Vlint & PM g Os...
1939 m-A
1st COUSOI gold As
Pt Huron Div 151 g 55 19311 A•0
rsagTuslo 11 1st gu g 48 1031 If-A
• B 63 NV bee Penn 1114
Philippine By 1st 30-yr 614837 J •J
Pills UtU 9. at L see Penn Co
Pitts CloVo 31 Tot bee II de U
Pitts kt, ti 31 Cli bee Penn Co
Pills Moliee» 31 Y bee N I(1en
Pitts 81t 31 L 11 lot g 58 11140 A-0
1st cousol gold 5s
11443 J -J
Pitte & Wee, See 13310
eading Co gen g 46
1997 J -J
• itegiatured
19137 J • J
Jersey Cent coil g 4s 11101 A 0
2111414 Lf. Read cons 7s 1911 J.1)
lienesolaer Lie Sar bee D 31 LI
Melt ,9 Dan bee South). Lty
Rich 9. Meek bee southern
Rio Cr West, bee Den 30 1110
ltouh& Pittas bee is it 33
Rome Wat 91 Ug bee
Y Cent
Rutland bee N Y emu
ag Tus 31 11 bee Pere Marq
lJtJo 913 lir 1st let g 44
11347 J•J
St L 33 Cairo bee 1100 & Ohio
St L 31 Iron Mount tee. Al
St L Al lir bee 1' BR A et 331 L
St Loma Ld 8 if-.long 68.11131 J -J
General gold 5s
1,931 J -J
tit L Ld a us 1111 colts g
J -J
Gen 15-21)yr 011
192, M-N
doutliw Div 1st g 5e 11147 A-0
Refunding g 4s
11111 J -J
KC Ft 1131 Al (long tis 11428 M-N
Allis ref g 46 13343 A-0
K 0lit
K Cid Al 1194 161gui)43.19211 A-0
Oz'rkdl CItU lst,g,u
g.1913 A-0
84 Louie So bee Illinois Cunt
St L S W 1st g 4s tat ctL13.111a9 Al-N
243 g 48 inc bond otts...p11)61) J -J
Consol gold 48
1932 J•D
U ray's Pt.Ter ititgugtis 1947 J -D
t31 Paul Dtu bee N ur 2atunu
St 1? Alum 33 Man bee tit, Nor
OLP 31 A or Vuu aee
eau
StP31 S'xeity Ace C SIP Ii Ldu
8 A 9. A Pass let gu g 4s 11143 J -J
131 33 N P 1st WILK 1 g 05 1319.4 J
Savlf& West bee AU eoaat
Scioto Val 9. N Ii. bee Nor
W
Seaboard Air Line g 4s
11Thu A-0
Coll tr refund g 543
11111 M-N
Ati-Ilirm 30-yrlet g 443.431933 Al-8
Oar Vent 1st con g 48 1949 .4 -J
Fla Cen de Pen 1st g 15 1918 J -J
lst hula gr ext, g os- 1930 J -J
Consul golti Os
1943 .1 -.4
08 31 Ala ity Du C01158011146 J •J
Gra Car 93 No 1st gut; As 19211 J -J
deab31 lioa 18116
11126 J -J
SlierSiir&So bee at It 3:41
811 Sp Uca 33 61 bee All Coast L
So Car ob Ca Leei southern
Southern Pacific CoGold 4s(Cent Pao y.460./311149 J -D
Registcreti
1319411 J
20-year Cony 4s
glint).51-13
Cent Pau 1st rex gu g 4s19411
Registerett
1949 V-A
Mort guar gum 343../31929 J -1,1
Through at L 1st gu 48'o4 A-0
dial liar S A.Ist g 643-11310 F -A
Mex 33 Pao let g Os
11)31
Gila V ti 9. A istgu g 56 1924 M-le
lions /1. 31 W '1' lot g 08 11333 M-N
let guar Os reu
11133 m-N
II T 0181g Cul int gu 1937 J -J
Consul g 633 int guar 11112 A•0
Gen gold 4s 1UL guar-1921 A-0
Waco 33
W tuv ist g '13u Vi-N
W 1st gu g 55-.1041 J -J
A45
h1organ's La do '1' 1st 78 1111a A
let goltt U
11320 J -J
Price
brutal/
eb I -
Range
Week's
•
mince
Range or
Last date 44'
4 January
1101S1).4
N. Y. STOCK EXCHANGE
WESIC ENDINO FHB 18
491
,
Price
Friday
1,et) IS
Week's
Range
Range or „ Since
January 1
Last bate
lita
1115
tun Idol LOW Higit
ARA Loto
Ilia
ASK Low
EWA No Low /lige southern Pao Co-(Continued)
No ot Cal guar gas
112 Feli'117 . I .
Salt 105
1938 A-0 95
105
2 105 105
.
ore eat 181. guar g 56 11127 J -J 10314
104 Alar09
10334 Feb'10
108.4 10334
1001
/
4 De0'4/9
891
/
4
so Pao or Aria 1st gu g 613.3'10 J-J 1004
I
.
9011 J'ne'06
I
1
4
104 J'ne'us
so Pau ot eat-03 E & /.1912 A-0 103'.
994 91
901
/
4 Feb'10
.-91.1-1; 91 /
.1
/
4
114 4 Deo 1u4
let gold es
11112 A-0 1031
97% 97%
97
137% 101)10
1st con guar g 5s
193711-N. 1084
116 May'la
90
8d4 9111
90
/
4 90 Jan'10
Pau ot 24 Alex 1st g 68-1911 J -J 100%
104 Apt'Oa ..I
94
91 Deo'01)
83
93
80 J'ly o9
So Pao eoatst lot gu4s g.1937 J-J
9838
9S"I 1 98
1)13' 9678 981
/
4
lextuNusabDivlst gee-1912 41-S 1024
/
4
1024 Feb'10 ....I 102181021
101
110 Jan '05
1943 J -J 100
lion gold As
102 Nov09
..
11034 Jan '4)9
954 Sale 95
1955 J-J
135,4 344 044 051,
o
RR 1st rel 4s
109% .Ply'011
southern-let con g 5s
1994 J -J 109 bale 105,4 109 I 2 107,
954 961
3 11184
/
4 96 Atig'1)11
110 Diey'09
Begistereu
1994 J -J
951
/
4 el
90 May'l/8
/
4 7914
Develop 83 gen 45 Ser A 1956 A-0 708 801
80
56 7114 8178
9234
92 Apr'07
89
Apr'04
89
UV
98%
Mob Ld uluo /oil tr g 4a 11138
1 89
90
9234
1044 Oct'09
110 Jan '1U
Alem Div 1st, g 44-5s. 1996 J -J 10811
110 110
1664
8514 813.4 554
al 's 6 /3514 87
St Louis div 15t g 48- 1951 J -J
10614 108 1061, Deo'09
Los',
Sep
105
Aht Con it let g de
1918 J-J
'08
1044 Jan'10
1061
/
4
105%1061
/
4
. .
911
/
4 921
/
4 Oct '09
/
4
1051
107 Oct 'OS
Atldo Danv 1st g 48
1948 J -J
834 88
110 Fe13'011
92 J'ne't16,.
Ltd)
1948 J -J
24348
1u7
1074Jan '10
Ati 33 lad 1st g guar 48 1949 A-0
107
.
41071
/
4
107 109 107% Feb'10
nue:
11
09
0 Ji,",,
1916 J -J 1044
Col 93 direenv 1st tie
107 107.4
110
11241'ne'015
U10
°1E
:
- 110
. 110
T Va 33 Ca Div g 58_1930 J -J
11/11 Aug'W)
(Jon let gold 58
1956 19-N 112 11284 113 Jan '10 ...... 113 114
94
954 94 Feb'10
Lut3
8106 106
11. Ten reur nen g 58
1938 M-13 106 Salt hitt
94.. 94
66 Nov'09
65
19413 A-0
1i914 101
Ga Midland let 38
Ill'.Sale 1114 1114 1 111 4 112
(*a Pao Ry let g (Ss
1922 J-J 113%
'134
)
t
4'
443 eil!3
8 11
/
4 I 118
1
341
Knox id Unto 1st g 6s-1925 J-J 114 1161
'
1114
3143
4
to U31 du'prior Lieu g 58 11345 J -J 11143
81
82
112 118 112 Dee'09
Alorugage gold 48
1945 J -J
10
105
8120
7Z ib'6
NA 11°1rv*
3 :°1111
2 .... 1071
1304 100 1004 Deo'05
Ruth& Dan con g 08. 1915 J
/
4 1071
/
4
781
/
4 783, Ifeh'10
..... 1061
Deb 08 stamped
1927 A-0 1t)6 107'107%eu
/
4 10784
784 79
.
104 105 Aug'09
ktmeh & .111101t lot g 4e 1948 Itl•N
101
Oc
b'e
i"1
08
0
111% 113 11t78 111% 1
10
74
5
So
Car
33
Ca
let
53.-1919
Ni-N
g
1034
104
11214
102 0.1512 105 Deo'u9
Virginia Mut ser C tis 1916 M-8
1
10
1.8
1034
2,
3D
uc
ee
t:
.u
uti
u
aeries 1) 4-Os
4)
1921 WS 1084
107 De0'08
58
193431926 M
111 107
m:N
01% ljeg:1°4
107
107%
eet) 4 .... 1074107%
General l's
il
tluar stamped
9114 9114 De0'09
1936 M-N
W let oy gu 46 1924 F-A
W U
1 6'II j
jaii
J"V
j" 'l
liu0 .... 106 106
West N 0 1st eon g 68-1914 J -J LAI
8&N Ala bee L
N
It/ AI 106% Sep
8pokaue Internet 1st g 5s 1955 J-J
Fel)'10
i et A oi
g 440-1931) A-0 107% 1La
107%1074
1151
/
411512 115 De0109
114
,
3
llo
1144Jan lu
851
/
4 ely'97
1
1st
con
gold
Os....1894-1944
F-A
11441144
.....
.2:nun 9711
al
.
2 117
97/14
lien refund 6 t g as
109 Deo'thi ••••
lige Ter gu g 58.1
.0
3 101)
SC L
j:
0938 Sale 9988
19
933
UA
994 82 99 100
981
/
4 De43'09
Tex db N U bee So Pao et)
984
I
971.100
/
4Sale 1124 112% 16 III 112%
11711 17 98
97
2000 .4 -D 1121
974
971
/
4 Tex.8 Pao 1st gold 56
70
Mar 02
gold inc 68
101
102 Oct '011
....
La Div L ist g.
91211°V1
W Mud W 93N W latgu5s'JO /I-A
F
bN
)
(1;
)°‘
77
,
'2'N
1
11 0'6'33
t.16
10741104
T l
U U 1st g Os
Jo
Western Div lot g 55.-1
:4
9355
5 A0
19
1
10
0
12
1 ,,,I1''e411,
lieneral gold oe
1):
10°,4 • .
ups
Ran & Al 1st gu g 4s
1'2111
3t)
1A
44
-0
)
82
59,4
9.
b0
... 0
4' 9
02
0
92
t50814
Tot P 90 W let gold 46....11317I J-J
W yr hen g6,
343.1925 J -J
boo Feblu
80
00-year gold 4s
81
11154) A-0
904 934 94 Jan'10
94
94
854
ad
litS 85
Coll tr 4a g Ser A
86
1411
91
.1 1A
D
17 If
Tot /tam o. dun 2431, g 46.41
1940
at
en
iqu
°
jf
lo
!
ad J
106 106
Ulister& DeL lac con g 543 1925 .4-1)
86 Out'09
let rotund g 45
123
123 Sale 123
122% 123
UM% 63 1-0078102
lui
gr g 4s 191
00
4'2 A
J
1084112 10838 Feb'10
108%10834 Un Pat)
101 Fob'10 .101 1014
Regismred
90
904 90 Jan'10
1947 J -J
90
914
1083. Liu
20-yr cony 413
1927 J-J
88% bale /034
42 874 89
69
10t)14
let do ref Is
100 L2 Aug't/11
s 4............
81,
2 b'ets
9
'
611) 1111.3
..
.
103
.11111
Ore By 33 Nay con
0116
6
134% Sale 834
7i
3 19
918
86t
*
641)8 1*1 82.4 85
1184 1.1.7
3 11111
Ore short Line 1st g tie-1922 F-A
/
4117
[ho'.1i7.4 1174.13111'10
117,
3 1174
118.„
113
5 113 113%
COUsOi
18L
g
Os
81% aaie i 81
1940 J•J
61.41 48 )30% 82'4
841
/
4
94.4 69 133.4 9474
Guar relund 48
1929 J -D
101114 Dee'th)
*14 Jail '1./4
Registered
97 .1431)'10
*17'. 98
97
97
It171.1.1to'oU
J.
-J
D 1074
U Wit Lb Nor gold 58-1
0j
192
1)46
93L 17 93
934 Sale 98
93% Uni A J 1114 de Co See kaitli
81 Sale 131
U Lan Contrat bee itio Cr Wee
1 n034,*31
81
79% sale 79
79'4 162 774 79,
4 U tan de North Ace Un
101 Apr'07
90%
U Lusa 3) Bieck it dee A Y Cent
• .....
994 08 Nov'Ot, anualia ounsol g 46 -.11155 F-A 96
1314
86 Oct'09
V era Unix...1'1st gu 44811334 J.J
Ver Vai /nu 9,3 W bee Mo
Virginia aid des south By
/10 Oct'09
auuthw't 1st gu 58.2003 J-J
884 50 86% 884 Va
884 Sala 87
Ifej Feh'10
118
let cons Au-year Os
97
11158 A-0
104 Oet
984
ill
111, 56 111 113%
atuum let gold us
1939 eti-N
lul
101 4 '1 111041054
I int Val be
1939 F-A
gg Jan'10
Dec
'03
100
821
/
4
Deueuture series B
1939 J -J
86
86
2 ,181 102
1u2
VII% 09% 1094 Feb.10
102
151 den equips tag Os 1921 M-13
99% 99%
el
Alay'UL
87 Jan'1u
84
let lieu 50 yr g term 48 1954 J -J
85
87
73
is
dale
914 Deu'Ub
12',
73% 4Vti I 70
1st rot aim ext g 443 ....1956
77%
/
4
914 911
107 ...... [0.14 Feb'10 ..„ 19734 10784
1Jul31 Cu Rat let g ens-11141
1074 Aug'06
a6
63 .0434'oJ
Des Atom Div lot g 443-11/39
............
70,DeL3'09
714
um Div lot g 3443
10114 4ar'06
1941
834
vu Jan't
90
'l'ol tra lin Div 1st g 48. 1941
lt)3 1.
90
lot Jan'10
104 104
44,
3
44 Yob
44
105 Dec'08
Web Pills Term 1st g 48 11154
52'.
1044
....
4.0 40
444 4..4 143 424
Trust el) dertte
43
54
108
10734 J'I1e'09
43
2u gold 4s
15, 4
1954
02 0
Trust co certts
411 41.121.
Warren ass Del 14143 &
WiiSIA USIA age Nor rata
Wand'034 W dee Southern
93 Sale 92%
934 56 914 95
Wattli Tenni 1st gu 1,
93,
2 904Jan'1
93., Aug'09
904 904
2s..t945
86
1024 7110 DA 1064 West Maryland let g 4s...194)2 1.0 86 Sale 134
84
86
I02811 Sale 102
lien .3 cony g 45
97% 69 137
1952 1-0 71 biLie 71
'a
2 '41
73
in% sale 974
971
/
4
12rust Co certts.
' 714 awe 71
711
/
4 15 681
97
/
4 73
97 F61.1.10
W V a Cent. da P ist g lie 1911 .4-4
lut/ Nev'u
89'4 bale 89
?JO'S 261 1/
g
4
7
;112 110
92% 8 924 931
92% saw 924
110 1101
/
4
/
4 Weat A ho Pa let g Os 19.3/ 4-4 ju91
13014Jan'iu ....1 904 904
Gen gulu 48
1011
/
4 Apr'00
1943 A-0 19)/
1
4
In Apetits
eu'ye ..1 ...
income Os
34
41943 Novi
10;1
/
4
West No Uar Ace South By
1034
111434 809'09
lug/
1
4 Aley'u9
Widierg
L E let g Os...1926 1-01 102 105 1(1434 104.
6 10434 10434
104-i
Wheel Div 1st gout 143-1928 J -J 1014
1134 Jan 1 I ... 104 104
1041
/
4 11.15.4 Luo J 10010 •
106 105
Lx1.33u 93 imp gold 58...1113t/ F.A. 119
£09-j 1101.1011% Jan '10 .... 1011% 110
105% Dew°
111-1 Lib consul 45....
85% t17
10914 109.4 109 11 Nov'ulf
Al-S 85
854 8534
loa Lwao'u
40-year equip (Os ...1922 J -J
1.1.1-e 96,
3 94 Jau '1u
41.. 114 11.
9
.
Wilkes 33 Last dee Erie
liti 118 116 De0'06
Wu 33 Sioux. It Bee tit 2IA
1074Jan'09
95
4.3 0334 98
Wut Cent co-yr let geu to 11149 J-J
116% 120 122...L.4098
94,19 Sale 944
......
921
/
4 981
/
4
Sup& Duudiv& term let46'313 M-N
934 93.4 934 Feb'l
116 ktov'thi ....I......
.....
..
....
...
•
•.
%'
0,•••••
•
••••••• •
.
.
•
••
•
00
•
....
•
•
•
•
.2:
•-•
•
•
•
•
•
•
•
•
•
•
111,
•
MISCELLANEOUS BON Os-Conclutluti.
lintinlacturIng & Indurstrial
9211343
lstreal est4 46'311 J-D
Armour LC3
924
927 62
Seth Steel 1st est 51 os..1J,t) 3-3
87 Sale 87
88
91
Cent Loather 20-year g 08.19143 A-0
119% Sale 99 4
991
/
4 42
Corn Prod Ret of g Is.193 M-N
941
/
4 Feb 10
Distil see Cor cony 1st g
A.0 72 43
72',
73% 14
Gen Electric deb g 346_1114'2 1-A
82
82 Jan'10
10-yr g deb 5s
1917 J-1) 144 4 Sale 143
144 4 21
lot Paper Co let con g418 1915 F -A 104 Sale 104
104'. 4
Contiol cony s r g Os
1935 J • J
85
85 Feb'10
Int St Pump 1st ef 58
954 1.16
1929 ALS
96 ifel).10
Lackaw Steel lett g om
1112o /1.0
99
09
09%
N Y Air Brake (at cony es '2)3 ./1-1\ 109.4 110 10115, 10834 '
Repub I 8.6 1st 83 cultr 58.1934 A-0 163%
1034 Feb'10
Union Bag & P 1st at 68_11134, J-J
95
05 Feb10
U Leath
s nun Kos lino
1044104 4 10434
U 110alLy & 1 COUV don gOs'24 J -J
994 &tic 894
894
U S Red At Ret let 8 t g 60.1931 J.J
89
88 Jan '10
8 Rubber lO-yrcoil tr 66.'18 J -0 1113 Sale 1021
/
4 1031
/
4 270
No price Wridayrlatest Wend asked this week. a Due Jan
•
.
Manufacturing & Industrial
U camel Corplooup .41963 AI-N 10514 Sale 104.4 105 362 .104 1054
105
1 103%1054
81 10-60 yr de. rug -411963 31-N 105 8ale 105
98% Sale 98%
90
34 1)7% 99
Va-ear Chem 1st 5-yr Os 1923 J -D
92
91% Sale 91%
98
Westinghousolil da Bat 58 '31 J.J
2i 90
.11tecellaneout4
92%
92.4 93
1948 M.S
Adams Ex coi tr g 4s
92% 112 014 93
410
110 Deo'uu
dush Terminal lot 46.. 1952 A-0 88
115 14 9614 974 Feb'10
1'350 J -J
Consul Os
964 4171.
9514105 IOU Jan 'uti
Cliiejodl t Yard e,ol g 58 11115 3."
40
40 Jan '10
40
40
oet &AI Mgr m0011168_11111 1-0
964
964
96'.
964 66'4
4ustit for irrig Wks 4'.s 1943
/
4
. 711
067
6878
Jut AI ercan Marine 448-1922 A-0 6884 Sale 67
81's sale 814
81, 3 81 1s 88
tut Navigation 1st s 1 5s.192i. F-A
115
98 De0'013
......
Newp .N.lo Ship 84 1)1)55411)1)0 J-J
98% 41
94 Feb'10
94
N Y Dock 50-yr hat g 45 11.151 1-A
......
Providence Sec deb 431.-1957 M.N
8514 871
/
4 90 Jan 't)9
95 J'ly'OtJ
Provitiont Loan 500 446.1921 Al•13
112 J'iy'04
a Yuba Wat eo oon g tis 1923 J •J
line I'ne h Due JAY p Due Nov °Option Sabi
ADue 1,'013 d One Apr e Due hay
944
92
871
/
4 89
11834 104)
97
91
7478
72
82
82
138 147
104 10488
8914
84
95
9678
98 IOU
109 114%
/
4
103% 1931
1/5
061
/
4
1044 104.34
1)4',
89
90
88
10241044
••••••
•
•
• •••
......
CHICAGO STOCK EXCHANGE-Stock Record-Daily, Weekly and Yearly
STOCKN-HIGHEST AND LOWEST SALE PRICES .
Saturday
'
Feb 12
Monday
Feb 14
Tuesday
Feb 15
Wednesday
Feb 16
Thursday
Feb 17
Friday
Feb 18
LINCOLN'S BIRTIMAY
Last Sale 185 Dee'09
175 195 *175 195 *175 195
*2
3
*3
4
3
3
3
3
*2
3
7
712
7
*6
*3
8
712 *6
*6
8
*105 10034 *105 10634 *105 10034
Last Sale 10712 Feb.1.0
30
2014 2014 30
*2912 30
2913 2912 30
30
*10
*10
15
*10
15
Last Sale 10
15
Feb.10
*8
10
*8
10
Last Sale 8
*8
10
Feb.10
*314 358 *314 4
*3
4
313 4
4
4
*27
29
*27
*27
29
30
29
30
*28
32
*68
70
70
70
*68
70
69 *68
69
72
*1512 1612 *1512 1613 *1512 1612
Last Sale 17
Jan'10
*51
64
52
52
51
51
*51
52
*30
52
*17
18
*17
18
*17
Last Sale 18
18
Dee'09
*60
*60
67
67
*60
Last Sale 70
67
Aug'09
*50
5112 62
61
*51
*51
53
*51
53
53
3414 3313 3412 34
32
3418 30
3414 34
34
100 100
*92 100
*92 100
*90 100
*90
100
Sales
of the
Week
Shares
STOCKS
CHICAGO STOCK
EXCHANGE
Lorrcs;
Miscellaneous
1112 1114 1114 1112 1112 1114
1113 1,250 American Can
100
7612 7612 7678 7678 76% 7638 _50.
77
0 Do prel
100
Last Sale 22514 Oet'09
American 14adlator_100
---- *214
*130
Last Sale 130
Jan'10
Do pref
100
76
*73 If
Last Sale 72
Feb.10
Amer Shipbuilding_ 100
111 *110 111
Last Sale 111 Fe13.10
Do pref
100
*135
136
136
136
136
13714
136
Teiep & Teleg
-2115 Amer.
Last Sale 18
June'09
Booth (A) & Co
100
Last Sale 14
pret
Do
100
;5i- 16-- ;5i- 16-- 35 35 35 Jtme'00
;55- 38
:35
15 Booth Fisheries coin____
63/4 65
6434 65 *64 65 *63 65
65
65
113
Do pref
*48
*48
50
50
50
50
50
55
55
55
435 Cal & Chic Canal & D_100
vs *1
*1
118 *1
118
Last Sale 1
Feb.10 -- Chic Brew'g & Maltig___ _
a2
*2
3
3
*2
3
Last Sale 212
Nov'09
4412 46
43% 4512 45
4534 4412 4512 44
D
tc°Prer
1,625 ChPneumatic
Tool_100
44
128 128
128 12814 128 128 *128 129 *128
129
131 Chicago Telephone__ -100
Last Sale 214
Do rights
Meh'09
ii5- 151 15512 15-61-2 *150 152 *150 153 -Hi Chic Title & Trust_100
11412 115
115 115
115 115
11413 115
115
261 Commonw'th-Edison_100
115
Last Sale 133
_
Feb.10
Do rights
---1834 1878 ---1878 19
19
19
-.
5
.86 Corn Prod Ref Co coinLast Sale 8614 Oet'09
pref
do
Do
i5i- 105 10434 105 16574 106 - 105 106 10512 107 "Lii Diamond Match
100
7/
7734 7734 78
77
79
81
82
79
100
7912 1,357 Illinois Brick
*42 ____ *43
_ *43 __
Last Sale 45
Feb.10 __ Masonic Temple
Last Sale 218 June'07
3511w & Chic Brewing
*18
20 ;15- 20 ;II 20
Last Sale 20
Nov.09
Do pref
109 112
11034 11034 *110 111 *110 112 *110
112
National Biscuit
155
100
122 123 *12013 12112 12114 12114 *121 124 *121
123
pref
Do
10
100
*105 10712 *105 10712 106 10714 1071.1 10714 10714 10714
132 National Carbon
100
11613 11612 *117 11812 *117 11812 *116 119 *115
118
S
Do pref
100
10834 10034 10914 110
10913 110
11014 11012 10934 11034
873 People's Gas L&Coke_100
Last Safe 11-16 Meh'09
Do rights
15613 15712 iLi- 1-58-1; 158 15834 158 .15912 15833 15812 4-,178 Sears-Roebuck com__100
11933 120 *119% 120
11934 120 *11934 120
12034 12034
Do pref
587
100
10414 105
103 10513 10514 10512 10533 10512 10512 106
1,208 Swift ec Co
100
Last Sale 7
Do rights
Feb'09
177 1-7-tr lig- 15- 175- 1161-2 179 179 179 135 -3'6-'
5 The Quaker Oats Co_ _100
100 106 410312 105 *10313 105
10412 103
10412 105
Do
73
pref
100
Last Sale 112
---Apr'09
Unit Box Bd & P Co..100
Last Sale 3
---Apr'09
140 full paid
Last Sale 734
Apr'09
Do pref
_
100
1073 12
AV - 1114 1134 11
1118 *11
1:190
12
Do full paid
*18
*18
20
20
Last Sale 2012 Jan'10
20 *18
Western Stone
100
Chicago Bond Record
Interest
Period
Price
Friday
Feb. 18
Bid
Week's
Range or
Last Sale
Lowett
Rai:roads
Chicago City Hy
100
-56 Chicago & Oak Park_100 214 Jan 5 ,,13 Jan
Do prei
10
100
7 Jan 4
713 Jan
Chic Rys part ett "1"___ 107 Jan 10 109 Jan
-55 Chic Rys part at'2"- 2812 Feb 3 36 Jan
.._-_ Chic flys part ctl "3"___
10 Feb 4 16 Jan
Chic Itys part ctf "4"__
8 Feb 3
91s Jan
100
10 Chicago Subway
3% Feb 2
5 Jan
70 Kans City My & Lt 100 30 Feb 3 39 Jan
100 69 Feb 17 73 Jan
30 Do pref
Metropol W S Elev_100 16 Jan 14 17 Man
100 51 Feb 7 50 Jan
--49 Do pref
Northwestern Elev
100
Do prcl
100
165 South Side Elevated_ _100 5012 Feb 9 5312 Jan
3,868 Streets W Stable C L_100 20 Feb 8 5433 Jan
Do pref
10
100 90 Feb
104 Jan
1114 1114 1114
7638 7638 77
*214
*214
.,*139
*130
*74
77
*73
110 111 *110
*13634 13714 *13634
BON DS
CHICAGO STOCK
EXCHANGE
Week ending Feb. 18
Range Ior i'TtLi0143 Year
(I at:lb
k'zr 1911)
1614 Feb 3
7214 Feb 8
20
7
3
3
1(1
15
5
7
4
5
b
2
C
1338Jan 10
82 Jan 4
130 Jan 26 130 Jan 26
72 Feb 7 7838 Jan 6
11012 Feb ". 112 Jan 11
135 Feb 3 14034 Jan 5
33
60
50
1
Feb 4
Feb 7
Jan 11
Feb 4
30134 Jan
74 Jan
65 Feb
1 Feb
b
4
17
4
3813 Jan 20 47 Feb 11
12719 Feb 9 137 Jan 3
14212 Jan 21 154 Feb 9
113 Feb 9 12112Jan 11
114 Jan 26
2 Jan 13
1712 Feb 4 2234 Jan 8
102 Feb 9 127 Jan 6
75 Jan 5 8513 Jan 3
46 Feb 7 46 Jan 7
105 Feb 5
12114 Jan 25
105 Feb 8
112 Feb 10
10613 Feb 3
115 Jan
125 Jan
112 Jan
118 Jan
11534 Jan
7
18
7
28
3
148 Feb 7 16534 Jan 3
11938 Feb 14 12114 Jan 13
10113 Jan 25 10938Jan 8
162 Jan 13 185 Jan 18
104 Jan 18 106 Jan ii
1013 Feb 3
1812Jan 3
1538Jan 3
22 Jan 10
Ilighest
180 Mch 190 Feb
113 Oct
4 Jan
15 Jan
5 Oct
0773 Dec 1101, J'IY
3) Dec
4534 Jan
1012 Dec
30 Jan
1313 Jan
8 Dec
2914 Jan
314 Dec
30 Dec
52 J'ly
78 Deo
8612 May
1518 Sep
1913 Dec
47 Jan
59 Deo
17 Nov 25 May
63 Jan
73 May
50 Jan
01 May
5412 Dec
201.1 Apr
97 Feb 103 Deo
773 Jan
7134 Jan
201) Jan
120 Jan
5418 Apr
101 Feb
139 Aug
J ne
1514 Nov
86 J'no
22514 Oct
132 J'ly
8118 Dec
112 Sop
145 Nov
1 Jan
14 may 5 Jan
1() May 40 Dec
48 J'ne
7512 Dec
5114 Jan
58 Apr
1 Apr
1 Apr
21s Apr
212 Nov
20 Mch
42 Dec
127 Jan 140 Sep
117
107
Jan
Jan
152 Oct
12112 J'ly
4/.8 Feb
7014 Mch
117 Jan
38 Jun
43 Jan
25.8 Aug
8812 May
13034 Aug
8813 Dec
47 Sep
20 Nov
9778 Jan
11814 Feb
82 Jan
110 Jan
102 Jan
12 Feb
35 Jan
101 Jan
10012 Jan
6 Feb
119 Jan
9812 Jan
fa Feb
214 Feb
334 Mch
1013 Mch
15 Feb
21 J'ne
11914 Sep
130 Sep
10812 Dec
124 Nov
110/8 Aug
1 Mch
16912 Dec
12134 Oct
11414 Aug
20 Jan
102 Dec
105 Deo
158 Mch
318 Mch
912 Jan
20 NoV
25 Mch
Chicago Banks and Trust Companies
B'ds
Sold
Ask Low
High No.
100 Sieh'07
-93- 'Wale 9234
93
----
Range
for
Year 1910
NAME
Calumet National
Chicago City
Commercial National
Continental National_
Corn Exchange National
Drexel State
Drovers' Den National_
Englewood State
First National
First Nat Englewood _
Foreman Bros Meg Co_
Fort Dearborn National
Hamilton National___
Hibernian Bileg Assin_
Kaspar State Bank__
Live Stock Exch'ge Nat
Monroe National
Nat Bank ot Republic
National City
National Produce
North Avenue State
North Side State Say'gs
North West State
People's Stir Yds State_
Prairie National
Prairie State
Railway Exchange
Security
South Chicago Saving-s.
South Side State
State Bank of Chicago
Stock Yards Savings
Union Bank of Chicago..
Wendell State._ _
American 1 rust & Says_
Contra Trust Co of II1
Chicago Say Ilk ec Tr
Chicago Title & Trust
Citizens Trust & Sayings
Colonial Trust & Savings
Droyers'ilrust&Savings
Farwell Trust Co
First Trust & Savings_
Guarantee Trust & Say.
Harris Trust ec Savings_
Illinois Trust & Savings
Kenwood 'I rust Jc Savgs
Lakeview Trust&Savgs
Merchants' Loandar Co
AletropolitanTrust&Say
Northern Trust CO
North-Western Tr&Say
Pullman Trust & Savgs.
Sheridan Tr a: Say Bank
Stockmen's Trust & Say
Union Trust Co
%Vestern Trus, & Savings
%Vest Side Tr&.tiayllank
Woodlawn Tr,V-ayBana
Outstandtag
Block
t
Surpuil
and
Profits
t
Dividend Record
Its
1008
In Per1909 fort
Last Paid
%
Low
High
$100,000
6
$39,126
An Dec '03,8
0
Amer Strawb'd 1st 6s_1011
-A
500,000
196,064 10
10
J-J Jan '10, 5
'Armour & Co 4 qs__1939 J - D
Viiq -at;
7,000,000 3,518,161 u12
nil
___ Jan '10, 2
f Aurora Elgin&Chle 5..1941 A 0,000,000 4,973,133
8
8
Q-J Jan '10, 21a
Cal & So Chic My Co
3,000,000 5,143,948 12
12 (4-.1 Jaa '10, 4
1st Al 5s
1927 F A
102 J'ne.00
200,000
6
21,411
9
A-0 Oct '09. 5
; Cass Av & ,
1 (4 (St L) 5s'12 J - J
10114 Oct'09
--600,000
400,438
91i 10
Q-J Jan '10, 212
Chic Board ot Trade 481927 J - D
100 alay'07
200,000
31,240
6
0
Q-J Jan '10, 1I2
Chicago City ity 5s_ _1927
- A 1034 Sale 103
10314 26
16:.5-4
8,000,000 8,441,395 12
123 Q-M Dec 31.09,3 v
Chic Consol Br & Mit 6s___
103 Apr'04
150,000
167,631 10
10 Q-M Dec31.09,212
Chic Consot Trac 4 3.3 1939 J
D
50 Apr'09
1,000,000
517,489 Priv ate Da nk
Chic Auditorium 1st5s1920
- A
9634 Jan'03
1,000,000
308.304
8
8
Q-J Dee31'09,2
Chic Dock Co 1st 45. _1929 A --500,000 . 145,105
5
5
J-3 Dec31'09,212
!Chi° Jc It it 1st Mg 58_1945 M- S
2- Dello;
--- 9i4-1____
1,500,000
837,604
8
8
Q-3 Dec31'09,2
Chic No Shore Elec 63.191a A 87 Feb.00 200,000
113,730 10
10
J-J Jan '10, 20
Chic Pn root 1st 5s.a1921 J - J 8614 Sale
21 -84-11.5
8614
4 1611,250,000
474,665 10+2
10 Q-M Dee:31'09,212
4
Chic fly Is
1927• - A 101 Sale 10078 101
6 10034 101%
64,518
4
4
300,000
(4-1" Feb '10,1
Chic flys 4-5s series "A" A -0 ____
0518 Jan'10
V518
1,173,262
9518
8
8
2,000,000
Q4 Dec31'09,2
Chic tlys 4-5s series "B" -D
8418 84
8518 87
80
517,470
84
3
1,500,000
0
Q-J Jan '10, 112
Chic flys 4-5s series "C"• - A
2u
91 Sale 01
91
91
91
73,884 _230,000
3
Q-.1 Dec31'09,1
Chic flys coil 6s_ _1913 e - A 110034 i0118 101 Feb.10
101
10034
53 (14 Jan '10, 112
50,000
200,000
245
Chic flys Fund 6s_ A913
-A
10112 July'09
18,590
0
50,000
0
Jan '10, 112
(44
Chic Rys Tern Ctfs 1st 53
10118 1)ee'09
21)0,000
7,776 ---- ---- (4.3 Jan 1510,1
Chic It I & P R11 4s_ _2002 • - N
6612 Aug'08
82,183 Be, b us. No v.00 v.89, p.1320
300,000
Coliat trust g 5s
1913 11- S
0613 July'08
250,000
73.359 -----------Chic Telephone 5s
1923 J -1) 103 10314 103 Feb.10
8
6 (4-M 1Jec31'09.112
50,062
ftii- fa.;
500,000
Commonw- Edison 5s_1943 fl - S 10234 Salt 102% 10234 37 10238 10278
2
13,095
None __-- Jan '08, 2
250,000
Chic Edison deb 63_1913 J - J
100 Jine'08
169,511 -300,000
1% ---- Dec31'00,112
1st g Ss__ _July 1926 A - 0
100
100
0
82,000
200,000
Rio- 1661;
Q-J Jan 10, 112
0
Debenture 59
1920 M S
10038 Aug'09
3,017 Deg. b us Sep t.'09 y.80, p,817
200,000
Commonw Elect 5801943 11 - S
10212 10212 Jan'10
10214 1624
12
1,500,000 1,009,405 11
Q4 Jan '10, 3
/111nois Tunnel 5s_ 1928 J -D
80 Dec'118
7
8
4:4-Al
230,000
181.135
Dec:31.09.2
Ran City My & Light
0 Al-N Nov '09, 3
200,000
37,766
0
Co 5s
1913 ,11 - N
9614 Dee'OJ
None Q-M Dee31'08.1t2
0
6.726
50,000
KnIciebleer Ice 1st 5s.1928 A _100 06 Meh'09
8
187,112
3,000,000
Q-1 July '09, 2
6
Lake St El-lst 5s
1928 J - J i5
81 83 Jan'10
83
7
800,133
115
2,000,000
7 (4-3 Jan '09, 134
Income 5s
1925 Feb
16 Alay'05
1%
107,534
6
11500,000
Q-J Jan '10, 113
Metr W Side El5,000,000 t 1,310,160 - 0
6 (44 Jan '10, 113
1st 48
1038 F - A __ 83
83
83
2
83
84
0,369
50,000
4
A-0 Oct '09, 2
4
Extension g 4s
80 Feb.10 ---1038 J
J
__ 80
80 80
510,493 8+2 8+2 (14 Jan '10, 212
600,000
Morris & Co. 4 li
1930 I - J 1;213 sale
9212
9212
1
9238 9314
200,000
105,055
7%
8
Q-J
Jan '10,2
North West El 1st 43_1011 A 9534 26
9514
9512. Sale
9513 9014
200,321 -1,500,000
3 Q4 Jan '10, 112
No %V G-L & Coke Co 58'28 ct 0834 Dee'00
2,000,000 3,122,400 -10 Q-A Dee31'09, 4
Ogden Gas 5s
1945 m- N -t14-12 Sale 0412 9412 i 92I 1)412
200,000
5.680 Incorp orated 1908 Y.87,t).1138
Pearsons-Taft Is
1916 J -D 9912 -- 1003 Mehlai
1,230,000 1,213,052
0
OA („14 Jan '10. 712
---4.40s
A - S 96
_- 96 Novi(19 ___
5,000,000 8,347.424 16+4 16+4
q Feb '10.1
4.603 Series E
A - N 97
97 Fe0.10
-__
200,000
53,595
651
Q-J Jan '10, 134
0
4.80s Series F
-N
1)813 _--- IOU Meir09
200,000
41i
5
36,134
Q4 Jan '10, 114
Pao Gas L & (3 1st 0_1943 A 12134 hiay'09
-_
Q-J Jan '10,3
12
3,000,000 5,502,000 12
Refunding g Is____1947 A - S
103
103% 103
2 lac- 103
6
Q-J Jan '10, 112
750,000
255,811
0
Chic Gas L&C 1st 551937 J -J
10412 104 Jan'10 -- 104 10412
8
Q4 Jan '10, 2
1,500,000 2,185,362
8
Consum Gas 1st 5s_1936 J - D :1021-4 Sale 10214 10214
10214 10213
6
J4 Jan '10,3
200,000
01,040
0
Mut'l Fuel Gas 1st5s1947 35-N
10113 Dee'09
_ _ 102
8
Q-J Jan '10,2
500,000
103,882
8
South Side Elev 4143_1924 J -J 9-278 Sale
9278
9278 13 -4127;
200,000
23,571 Beg. b us. Jay 12'0 9 V.89,p.141
Swift & Co 1st g 53_ _1914 J - J 100
1 100111 10078
IOU
100
5
J-J Jan '10, 212
29,037
200,000
5
Union El (Loop) 5s_1945 A - 0
0/12
- 88 Nov.09
8 18+2 (4-81 Dec31'09,2
1,200,000 1,062,969
Union Pacific cony 49_1011 • N
114 Novail
1,000,000
208,209
Q-J Jan '10, 112
0
6
United Box Board col 03'26
80 Dee'119
81,797 Began busine as Se pt 6 1908
200,000
General mtge Os
J - J
80 Noy'09
41,538
0
200,000
0
Q-3 Jan '10, 112
Western Stone Co 5s__1000 A •
8512 July'03
Notr.-Accrued Interest inuat be Welded to all Chicago 1) .
C)
r-i-e-es
• Bid and asked prices; no sales were made on tills day. tJan. 31 (close of business) lor nattonai
Janaa and Fe.). 1 (Opelltit., 01 business) be State
Institutions. ;No price Friday: latest price this week. a Due Dec. 31. 9 Due June. k Also
20% in stock. ii Capital and s Irplus to be increased.
q Dividends ar, paid Q4, with extra payments Q F. s In addition the equivalent of 4% more
came tram First Trust & Saving i Bank. t As Of
date Dee 31. 1909. u Stock Increasea ia 1909.
v In additioa the equivalent 02 1% came from First Trust & Say. Bans.
I
FED. 19 1910.1
493
TIIE CHRONICLE
It10 Ask
Industrie' and Mi scel
Con Steamship Lines14
20
Coll tr 43 1957 vets_ _3-3
141p 1452
10
.1 Crucible Steel
TRANSACTIONS AT rHE NEW YORK STOCK EXCHANGE
lot, 60.
4 8652
e Preferrel
DAILY. WEEKLY AND YEARLY
352
Davis-Daly Copper Co_l
1,1.14 106
e Manson-I Matea Co_10
130 3,?5
duPont(EDdeNemPo 10
Stocks.
Railroad,
88
10
b5
e Preferred
-80
U. S.
State
Week ending
83
b7
37
e Gold 4 813 19311_ _JBonds.
Shares. I Par value.
Bonds.
Fe). 18 1919.
Bonds.
Econ'y Lt do P (Joliet, Ill
53
94
97
1st M. s f g is 193G _J-1
Saturday
HOLI DAY
23
10
Electric Boat
felegraph and Telephone
$142,5001
Monday
745,897 $67,137,800 $2,466,500
70
(.5
Preferred
10.
75
180,500 810,000 e Amer Teieg & Cable_100 70
604,288 52,501,300
2,344,000
Tuesday
10
e Central & So Amer__109 118 120
Empire Steel
7
10
Wednesday
114,500
729,753 60,603,300
2,478,000
80
Commi (In Tel (N lei_ 25 103 116
90
Preferred
10.
Thursday
125,000
3,293,500
816,680 73,965,500
Einp & Bay State Tel_100 G
____
65
eneral Chenneal
10 10.4 10912
123,000
Friday
3,932,000
884,661 74,990,100
Franklin
1.11- 10514
c Preferred
10
100
$685,500 810,000 e Gold ee Stock Teles_100 14055 ____ Goldfield Conso, fil.nes_l. *714 712
Total
3,781.284 5329.207.000 $14,514,000
*,14 112
e Northwestern Teleg_ 50 105
_ Gold 11111 Copper ..
Pacific do Atlantic
,
t34
23 60 -7-0 Greene-Can:thee
Jan. 1 to Feb. 18.
Week ending Feb. 18.
Sates a.
ePac Telep & Telog pt _100 91
201) 225
Guggenheim Explorn 10
95
New York Stock
Southern 44 Atlantic
Hackensack
Co
Water
23
e
90
98
1909.
1910
1909.
Erchanse.
1910.
89
87
Ref g 4s '52 op '12 J 45
Hall Signal Co coin 10*
Companies
24,326,797 B & Ferry
37,490,647
2,934,686
3,781,284
Stocks-No. wares.N
Y
5
6
10
Havana
1st
Co
Is
Tobacco
1911_J-J
96
90
$327,207,000 $275,657,600 $3,413,706,200 $2,269,744,800 NY &ER Ferry
Par value
12
Preferred
10
8
stk_100 30
35
$9,500
$60,000
$5,000
Bank shares, par
1st is 1922
53
GO
g 5s June 1 '22...11st
GO
63
2,1-N
Bonds.
&Hob Is May '46..J-D
-Jones-Jewell Mil:
97
$119,000 N Y
$66,000
$10,000
Government bonds
Hob Fy 1st Is 1946 51-N 103 i-0-7-- Recker
'VI-. i,113 409
1st 6s 192,
7,025,100 NY &NJ
6,574,500
685,500 $1,026,500
State bonds
5s 1946____J-J
40
lier'g-tiali-Mar,
new_10,) lid
96
100
213,512,000
128,221,000
14,514,000 25,911,500
RR.ant misc. bonds
10th do 23d Sts Ferry_10u 41)_.. Hoboken Laud & Imp 10,
II
7-2
e 53 1910
$220,656,100 e 1st intge 5s 1919__J-D 61
$134,861,500
$15,200,500 $26,938,000
Total bonds
Union Ferry stock _100 32
Houston Olt
10
35
10,.,
e 1st Is 1923
Sill
4N
Preferred
40
99
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
110
Hudson Realty
lu
EXCHANGES.
Short-1 erm Notes
e Ingersoll-Rand cons_10a
Am (Mg ser A 4s 11 M
0818 0858
e Preferred
10,i
Philadelphia.
Boston.
Ser 13 4s Meh 15 '12 M-S 9634 9738 Internart 13ank'g C0_10
115
Wk endin7
Attars Coast L 5s '10_M-S 11/0 10038 Internet" lifer Mar-See :
list
Listed Unlisted
18 1910.
Bond
Unlisted
Bond
Listed
Bethich Steel 6s '14-M-N
9914 100 international Nicke; _AO'
150
shares. shares.
shares.
sates.
sales.
shares.
Cln Ham & I) 4s 1913_J-J 9/
9758
Preferred
93
10
C C C & St L 5s, June '11 10012 1011st g 5s 193"
93
.AHOLI DAYSaturd
Hudson CompaniesInternational Salt
8
10
25,884
26,791
$40,400
857,000
Monda
10,078
25,125
1st g 5s 1951 •
Cs Oct 15 1911
_A-0 0912 10034
46
A-U
23,983
Tuesda
20,290
II OLIDAY
99,500
Interb It T g 6s 1911_M-N 10238 103 International Si.ver 10
35
26,499
Wedncs
18,228
24,049
182,600 IC C Ity&Light 65
21,500
6,684
en(1
rtefG
070Pls
34
92
64(9
1U..
i)
14,929
31,358
154,300 Lack Steel 55 g 1910_111-S 99/
48,683
64,500
Thursd .
10,666
J-t,
iff12
13,432
26,122
200,900 Minn & St L g tis '11_1-LA 9914 0934 Internet Smelt & ltetg luu
94,500
Friday
43,340
10,840
160
75
eN YC Lines Eq 5510-27 64 4% 4.20 Internet 11m,Itecoru_11/4
92,763 $337,000 141,1971 48,268 $578,200 N YNHdclifis '10-12 100 102
134,753
102
Total
Preferred
1,
Norf do West 5s 1910_M-N 10012 10012 Jones & Laughlin Steel Co
1st s I g is 1939.-M,N 11,12 1111.
Pa RR Is Mch 15 '10_,11-S 11)41 10014
52
9912 100 Lackawanna Steel
St L & San Fr g Is'IL J-J
10
4 3i7
o g notes'12op. 1/-A
Rights
9014
95
14
South By g Is 1913__1-A
New 53 1950(w 1)_M
9838 9834
86
All bond prices are now "and interest" except where marked '1."
'tidewater 6s, 1913 guar 14)112 102
Deb 5s 1915 (WI) __M9G
9938
'12_
Telep
F-A
Lanst
&
T
West
133
5s
Monorpe
9934
Bid Ask ‘,Vestingtfe EldoM 6s 1910 10033 10034 Lawyers' Mtge Co_ _ _ _103
Bid Ask
Street Railways
Street Railways
258
New York City
Pub Serv Corp N J (Con)
e Leh do Wilices-13 Coal tiu
Bleceir St & Fut stk_100 17
Cons Tract of N J__100 75
76
22
pref___10‘,
Lorillard
e
(P)
Railroad
e 1st nage 49 1950_J-J 60
1st Is 1933
J-D 104 105 e Chic G t tVcom tr etfsiSee Stock
70
nf Exe Madison So Garde:1_1U L
45
e By & 7111 Ave stir.....100 130 140
Newic Paslty Is '30 J-J 108 103
ePreferred tr etfs__J
2d Os 1919
D.1-1\
e 20 intge Is 1014-J-J 09 100
Rapid Tran St Ity 100 240 250 Chic Peo & St LV15Manhattan Transit_ 2
8 17
Con 59 1043-See Stock Exe list
1st Is 1921
A-0 100
Mononganela It Coal__ 3
9
938
Prior lien g4
91
M-S / 89
B'way Sur. 1st 5s gu 1024 102 105
J C Hob & PatersonPreferred
57312 10
Con mtg g 53 1930__J-J / 9
3
60
2
4s g 19411
e Centi Cro.sst'n stk_ 100
7612 7712
Income Is, July 1930._
10 1-8
5 Mortgage Bond Co
e 1st intge 6s 1922_NI-l' "iti - 95
So J Gas El & Trae..100 135 149 Chicago Subway
98 100
11)
312 Nat Bank of Cuba
IOU
3
Gil g Is 1953_M-S 09 100 Ft W & Den Cy std 100
e Cen Pk N & ElI stk_ 100 30
50
Nat'l Surety
10 22 240
No litni Co By 65 14 J-J 103 107
e Chet'r do 10th St stk 100 8,0
90
Kansas City Sou 55 Apr 1
Nevada Cons'd Copper ' *2234 2278
Is 1928
Col & 0th Ave Is See Stock Exc list
J-J 102 105
1950-See Stock Exel, a ge list
*1119 112
Nev-Utah Min ee Sm.. 1
Eat 5s 1024__M-N
98 101
Dry D E 11 & BNat itys of Mexico-See S t ..xe list e New Central Coal_ 2
3..
CO
Pat City con Cs '31_J-D 115 lig
e 1st e:old Is 1032...J-I) 9712 100
North'n Securities Stubs_ 105 110 NYAir lirake Os-See St lac 118'.;
2d 6s opt 1914__A-0 100
50
e Scrip Is 1914____F-A / 45
Pitts Bess & L 1
50 *32 36 N Y Biscuit es 1911.111-s 100
Eighth Avenue stock 100 230 300 So Side El (Chic)-See Ch Icago GE Preferred
50 *6912 /312 e New York Dock____10
;s(0
40
.: 106N e Railroad Securities Coe Scrip Ils 1914___1-A 1 95 100 Syracuse R T 5s '46 M-S
e Preferred
sir:
10
•42#1. & Ur St ry stic_100 200 220 Trent P & H Is 1943-1-1) 95
ld C stk tr ars ser A'52 90 -- N Y Mtge & Security_100 22212 2277
United Rys of St L42(1 St 51 46 St N Ave_100
Seaboard CompanyN Y Transportation
20 .6
1734 Is
100
1st preferred
Com vot tr ctfs
e 1st intge 6s 1010_M-S 98 100
100 72 80 Niles-Bern-Pond cout..10
I/3
02
100 6812 69
Cons & 2d prei-,See Bal t L'ac list NIpissIng Mines
e Preferred
3d income es 1915..J-J 60
__
. 10
10/3
Gen 4s 1034-See Stock Exc list Seaboard Air LineInter-Met-See Stk Each ange list
Ohio Copper Co
10 *412 414
Coil Is ext May '11...55-S 9913 9932 e Ontario Silver
Lex Av ee Pavlo Is See Stir Exc list UnitItys San Fran See Stk Exe list
lu
314 3%
100 37
West Pac 1st Is '33 M-S 9718 9732 Otis Elevator com
49
Metropol St By-See Stk Exc list Wash By & El Co
100 54
57
Preferred
100 87 89
Ninth Avenue stock__100 161) 170
Preferred
100 97 10)
4s 1951
Second Avenue stock..100 11
J-1) 85
18
Pittsburgh Brewing
87
Industrial and Miscel
5u «2_14 2234
e 1st M 5s'Uil ext'19 M-t', 9912 10014
Adams Exp g 45 1947 J-D 1 9234 9312
Preferred
_
5.. 547
Consol Is
64
/18
Ahmeek Mining
25 *200 213 Pittsburgh Coa--See Stk Exc. list
(las Securities
Sixth Avenue stock__ _100 10 118
Alliance Realty
100 115 120 Pope Mfg Co rn
10
71
73
Sou Boulev Is 1945--J-J 60
New York
85
American Book
100 150 169
Preferred
10
84
83
92 Cent Un Gas Is 1927 _J-J 10012 10112 American Brass
So Fer 1st 55 1010___A-0 88
100 118 122 Pratt & Whitney pre1_10,, 101 103
Third Avenue-See Stock Esc list Con Gas (N Y)-See Stk Exc list
American Chicle com_100 223 226
Producers 011
10 140 150
Tarry W P & Id 5s 1028 /50 80 a Mutual Gas
Preferred
100 150 156
100 101 107
Realty Assoc (Bklyn)_10 120 123
YirersStIllt5s 11)46 A-0 80
Am Graphophone corn 100
85 New Amsterdam Gas10
Royal Bak Powd com_10 175
28th & 29th Sts Is '96 A-0 /
9912 10012
Preferred
1st consol Is 1948 J-J
100 "iii- 23
•20
10 108 ill
Preferred
e Twenty-third St stir_100 200 220 NY &EltGas 1st 5s '44 J-J 102 105
Amer Hardware
100 141 143 Safety Car Heat & Lt_101 128
33
Union ity 1st Is 1943_1,
J-J 07 10,1
Consol Is 1945
Am Malting es 1914._JD 102 104 Seneca Min/ng
-A 10014 10112
23
Westchest 1st 55 '43 J-J 60
42
Amer Press Assoe'n 100 92
75 N Y & Richmond Gas_100 32
10 idO 190
97 Singer Mfg Co
N Y & WestehesterL'hrgAm St Found new-See tie Ex list South Iron & S eons 10u 1.34 20
1 rookivn
Deb g 5s 1954 guar_J-J 101 10:312
6s 1935
A-0 104 100
Preferred
43
10
50
Atian Avenue RR-Nor Un 1st Is 1927__M-N 98 101
Deb 45 1923
F-A 74
10
751, Standard Cordage
34
14
Con Is g 1931
American Surety
A-0 98 101 e Standard Gas corn _100 ni0
60
50 225 235
20
1st M g Is '31 red-A23
B 13 ee NV E Is 1933 A-0 97 102
e Preferred
100 n65
American Thread pref 5 *434 514
80
Adjust M. Is Apr 1 1931
334
3
Brooklyn City Stock_10 190 197
1st Is 1030
M-N 102 106
Am Tobacco Co corn_ _100 402 410 Standard Coupler corn 10
31
Con 5s-&o Stir Ezell ange list
Amer Typettlers com_100 45 43
Preferred
10 100
Bkin Itgts 1st Is 1041 A-0 la 102
Other Cities
Preferred
100 98 102 Standard Milling Co 10
16
19
13kin Queens Co & SubAm Gas & Eke cons __ 50 *43
44
Preened
Deb g (3s 1939_ _ _ _111-N 99 100
63
IU
66
e 1st g Is '41 op '16_J-J 08 10012
Preferred
50 *43
44
Amer Writing Paper_ _100
212 312
1st 55 1930
hi-IN 83
87
Con guar Is-See Stock Exc list Amer Light & Tract 100 280 286
Preferred
100 2612 2712 Standard Ott of N J 100 610 620
Preferred
Bklyn Rap 'Iran-See
100 105 10/
Exe list
1st s f g Is '19 op'09 J-J 8734 8812 Swift & Co-Sec Bost St
Exc 1st
Coney Is! & Ilirlyn__100 05
10
75 Bay State Gas
use "se AUGL&WIndSSLInes_100
9
1012
1st 5s-See Chic St el, Etc 1st
1st cons g 45 1948__J-J 78 82 13inghlon (N Y) Gas Wks
Preferred
100 195
100 24
26 Texas Company
05
Con g 4s 1955
1st g 55 1938
95
A-0 85
J-J 73 85
Col tr g Is 1959
98
04
J-J 68
70 e Texas & Pacific Coal 10
lick C & N is 1939_J-J 1)5 100 Brooklyn Un Gas-SeeStit Exc list
Barney & Snalth Car .100
10 152'2 15712
50 Title Ins Co of N Y
Gr'p't&Lor St 6s'10_ _M-N
Buffalo City Gas stk_.100
5
7
Preferred
100 n1u0 120 Tonopah Min (Nevada) 1 *338 628
Kings 0 El 49-See Stock
1st Is 1947-See Stock Exe list
Bethl'm Steel Corp-See S dr Ex list
4
8
Trenton Potteries coin IOU
Nassau Elea pref
05
Bliss Coin pa ny corn
100
Con Gas of N 55 '36..J-J 92
50 130 140
10
55
Preferred, new
65
55 1944
Preferred
A-0 103 10.3 Consumers' L 11 & Pow50 132 137
Trow Directory
100 27
1st 43 1951-See Stock Exe list
J-1) 110
Bond & Mtge Guar.. 100 2
5s 1938
16
15
5 2
17
10
7
Union Typewriter comlOu 56
60
N W'bg & Flat 1st ex 4 3s 91) 05 Denver Gas & Elec_100 148 153
Borden's Cond Milk..100
100 103
1st preferred
13
Steinway 1st
1922_ -J-J 102 105
Preferred
94
Gen g Is 1949 op_M-N 91
100 103 105
2d preferred
10 19) 13
British Col Copper
Elizabeth Gas Lt Co 100 300
5 *634 7
Un!ted Bic Note Corp_ Its *4'3
52
Other Cities
I3utte Coalition Mining 15 *24
Essex & Hudson Gas_100 143 146
25
Preferred
50 *52
51
Buffalo Street By2
Gas & El Bergen Co ,A00 80
83 Casein Co of Am com_100
3
United Cigar Mfre
100 86
87
151 consul Is 1931 F-A 103 106 e (Jr Rap 1st Is '15...ILA
Prelerred
__ 101
67
100 62
10 108 111
e Preferred
A-0 103 106 Hudson Co Gas
Del) 65 1917
Casualty Co of Amer 100 125 140
100 1-4-0 145
United Copper
10u
Gs
7
Columbus (0) St ity_100 95
93 Indiana Lighting CO._100 29
100 128 132
30
Celluloid Co
Preferred
100 15 •30
100 103 105
Preferred
4s 1958 op_ ,
7
U S Casualty
F-A /60 68 Cent Fireworks com 100 n5
10 215
Collin) By con Is-See Phi la list
Indianapolis Gas
Preferred
100 35
45
U S Envelope com
50 11
10
25
55
Crosst'wn 1st Is '33 J-D 102 106
1st g is 195,
100
87 Central Foundry
Ffienrirsc(
hil nz
100 113
234 u It re
A-0 80
16
*Cohn By & Ltg com_100 7512 71 Jackson Gas 5s g '37_A-0 / 88
9212
100
Preferred
100 140
50
100 80 85 e Laclede Gas
e Preferred
Preferred
Deb es 1919 op '01..M-N
50
100 0914 9334
36
1
1143
15
a Preferred
1st & ref 4 hs-See Stk Exc list
(2
1 sotngg5r3s11921292__ .... ...1100 80 100 Chesebrough Mfg Co 100 600
03
071: 77
3,
-- 1.0
05
Grand Raplds
119 122 Madison Gas es 1926_A-0 103 103
100
City Investing Co
95
00
Preferred
91 Newark Gas Gs 1914_ _(j-J 129 131
100 89
100 IOU 102
U S Steel CorporationPreferred
e Loolsv St 5s 1930_ _J-J 106 10034 Newark Consol Gas...100 09 101
25% 14214
CotCo
Col r s
Ciallin (li 13) coin..100 108
sf 5
5s5
s :511 n
opt
t pt 114 116
Lynn & Bos 1st 58 '24 J-13 105 107
e Con g Is 1948
100
tr
e 1st preferred
J-13 1()51; 10312
opt 114
16
e New Or! Rys h Lgt_100 2819 2338 No Hudson L H ee Pow10u 115.... U S TR Gu & Indem 100
e 2d preferred
60
e Preferred
Is 1938
100 6312 61
100
pf
Coal&I
7(
ell
A-0 110
tab
_
Hock
Col ec
Copper Co-See St lie list
Gen M g 4 3i5 '35-See S tie Ex list Pacific Gas Fe Li. com_100 52 /3
J-J -.- Waterhu 4 Co com
1st g 5s 1917
100
Pub Serv Corp of N J.100 117 110
Preferred
100 86 81
45
55
Preferred
Col tr 65 Oct 1956__J-J 5C;100
Tr etfs 2% to 6%perpet 103 105 Pat & Pas Gas 44 Elec_100 90 05 Consol Car Heating__ _100 3212 __ Westchester
& Bronx Tit
North Jersey St Ity_100 50
e Con g Is 1949
M-S 100 102 Cons By Lgt & Refrig.100
46 Mtge Guar
100 165 170
1st 43 1948
79 St Joseph Gas 5s 1937-J-J 9312 90 Consol Rubber lire_10t, --I-I -U- Westingh'se Air 13rake_50
MN
78
46
lot, 15
Preferred
20
West El & Mfg 5s-SeeStk Exe list
Debenture 43 1951 _ ft-0 34
38
Worthing Pump nref.100 107 112
• Per share a Ex-rights. 0 Basis. e Sells on Stk. Ex„ but not very active / Flat price. n Nom. s Sale price
Ex-dlv. v Ex-rignts.
s New stock
Volume ot Business at 8took Exo tanos
Outside Securities
Bid
fiiectric Companies
Chic Edison Co-See Chi eago
Gr't West Pow 5s •46_J-J 93
e Kings Co E: L&P Co 106 123
Narragan (Prov) El Co_50 « 93
N Y &Q Et I. &Pow Co 100 55
Preferred
71
United Elec of N J.. 10 75
1st g 45 1949
J-1) 79
Western Power com..100 34
Preferred
lot, 54
Ask
list
96
125
94
65
82.
BOSTON STOOK EXCHANGE-Sock Record, Daily. Weekly and Yearly
SHARI! PRICIES-NOT Pita CIINTOM PRICI1S
&Pada ; Monday
Feb 12 • Feb. 14
Tuesday
Feb. 15
I Wednasday
Fob. 16
Thursday
Feb. 17
Frtdag
Feb. 18
I awe
:
a. the
Week
hares
STOCKS
BOSTON STOCK
EXCHANGE
Range &nee Jan. 1.
Lowest
1uptes,
uange for Previous Yea(
,1909)
Lowest
Hilhest
Railroads
499 Ateh Top & Santa Fe_100 11133 Feb 8 12313 Jan 3
08 Jan 12518 Oct
60
Do prig
10212 Feb 4 10114 Jan 7 10034 Jan 106 J'ne
245 Boston & Albany____1
234 Jan h. 225 Jail 23914 Apr
10(1 22912.Tau
680 Boston Elevated
100 129 Feb 11 13134 Jan 3 12414 Jan 135 Deo
11 Boston & Lowell
100 225 Jan 3 220 Jan 20 22312 Dec 235 Mcn
87 Boston ec Maine
130 146 Jan 4 152 Feb : 13212 Jan 153 Nov
25 Boston & Provklenee_100 292 Feb 18 208 Jan 20 295 Sep 301 Jan
____ Poston Suburban El Cos_
15 Jan 10 16 Jan 3
1134 Jan
22 Feb
__
1)0 peer
73 Feb 8 75 Jan 21
0012 Jan
7713 Nov
Boston 414 Wore Elec Co' _
10 Jan 7 10 Jan 7
10 May 1412 Mch
"ia Do pref
42 Feb 16 48 Jan 3
4512 Dec
6514 Oct
130 Chic June Sty & USY_100 153 Jan 17 156 Jan 19 143 Jan 162 J'ne
115- iii"
220
Do pref
116 Jan 22 113 Jan 5 115 Nov 123 J'ly
100
___-_;---ftist-etire 2775-- ()Ala
Connecticut River_ 100
267 Jan 275 Melt
i5i7 fsf- 131- 1-31-14 13114-13113 . 13113 132
130
132
-5i5 Fitchburg. ore(
100 129 Jan 12 13312 Tan 3 12813 Nov 139 Feb
103 106 *10712 ____ *105 __ *10612
.*10513 108
15 Ga fly & Electric
100 104 Jan 3 107 Feb
75 Jan 103 Deo
*.._ 88
86
86 *___
8
88
5
Do pref
86
Feb 16 88 Jan 17
100
79 Jan
8812 Sep
202 202
......
,
8....
_
12 Maine Central
202 Fob 10 202 Feb 10 195 Oct 19514 Jan
100
"85- 'Iii8 ;ii; lila *17
18
-1713 1713
88- -1712 -17-12
235 Mass Electric Cos
100 1534 Feb 8 1912 Jan 12
1114 Jan
19 Oct
8412 84
83
84
83
8312 83
8334 *8312 __
457
Do pref
100 79 Jan 3 8412 Feb 11
5812 Jan
84 Nov
159 161
160 16034 16012 161
10018 16034 160
16053 1,627 N Y N 11 & Hartford..100 155 Jan 18 161 Feb 14 h153 Nov 17473 J'ne
Last Sale 149 Aug'09 ...... Northern N 11
100
146 Feb 149 Aug
Last Sale 210 Dee'09Norwich & 1,Vor pret_100
219000 DecApr 215 Sep
iiiiii fol
'
. *i§i" ilii" iiSi" lib- *192 ___ 194
194
Old Colony
--55
100 191 Jan 27 200 Jan 7
20013 Jan
Last Sale 31
Feb'10Rt
....__ Rutland
l
prof
100 31 Feb 7 33 Jan 3
26 Apr
40 J'ne
*:: III- lig" fig" *::::: fir *„.._ 116 *__ 116
50 Seattle Electric
100 113 Jan 28 116 Jan 5
9014 Mch 11712 Aug
105 105
105 105
105 105 *105 106
105
10513
112
Do KO
Jan
3
10512
104
100
9712
18
Feb
Apr
107
Aug
183,
3 18378 18358 18414 18453 18458 18558 18714 187
700 Union Pacific
18714
100 17934 Feb 7 20412 Jan 3 217273 Feb 21834 Aug
*10114 10214 *10113 10212 *102111 10318
Last Sale 97
Feb'10 _Do pref
100 97 Feb 9 10338Jan 3
9312 Mch 11714 Aug
Last Sale 168
Vermont & Mass
Jan'10
100 168 Jan 7 168 Jan 17 165 Jan 175 Apr
-4512 -94-1-2 -iiii3 -II- .1,5i- Ii
. 94
9412 9412 9412 "fii West End
St
50 92 Feb 8 95 Jan 19
88 Jan
9813 Apr
*____ 109 *107 10813 107 107 *107 108 *103
107
Do prof
50
50 10553Jan 3 109 Feb 10 102 Oct 112 Apr
Miscellaneous
43
4312 43
43
4312 45
4614 4713 47
1,141 Amer AgrIcul Chem...100 41 Feb 9 4873 Jan 10
47
3314 Jan
5014 Aug
102 10212 102 10234 10258 1025 103 103
Do pref
103
103
383
100 101 Jan 27 103 Jan 4
94 Jan 105 J'ly
8
834
734 813
712 8
734 734
50
734 2,600 Amer Pneu Service
7 Jan 15
734
873 Feb 11
558 Jan
973 Feb
22
zp
2112 2214 2012 2112 2034 2178 2178 2178 2,715
Do prof
1813 Jan 17 24 Feb
50
13 Jan
2212 Nov
12212 12434 12334 12434 122 123
124 12514 12434 12534 2,137 Amer Sugar 1tefin..-100 11812 Jan 25 12534 Feb 18 x114 Nov 130
Apr
12078 12212 12112 12234 12112 12212 122 12234 12212 12234
Do pref
508
100 119 Jan
13653 13713 13678 13712 13512 13714 136 13638 13613 1373 7,271 Amer Telep & Teleg-100 13412 Feb 25 123 Jan l' x117 Nov 131 Apr
3 14173 Jan . 12514 Feb 14518 Sep
*3412 35
3458 3458 *34
35
3518 3518 36
600 American Woolen_. 100 32 Feb 7 37 Jan 3
36
4018 Aug
2712 Feb
101 10114 10034 101
101 101
10034 10114 10114 102
Do pref
789
100 9938 Fob 8 10313 Jan 3 9312 Jan 108 J'ne
*938 10
*9:33 10
*912 934 *938 10 *149
60 Atl Gulf & W I S S L_100
838 .
.
9..3s_
412 Apr
1212 Sep
038 Feb 4 11(2 Jan 7
25
25
*23
25
*25
27
25
26
2434 25
Do pref
240
100 22 Feb 4 28 Jan 6
311. Aug
1514 Apr
634 634 *634 712 *634 712 *6
250 Boston Land
812 Jan 17
10
334 Apr
812 Jan 11
712
814 Oct
*14714 ___ 148 148 *14712 _.. *14834 712 *634
Cumb
Telep
& Teleg_100 14314 Jan 12 148 Feb 15 125 Jan 14712 Nov
4
Last -ijl-e 64
Dominion rron & Steel__ 04 Feb 4 6918 Jan 14
Feb'101813 Jan
7134 Deo
-;W2 I()- --54 --9-3-4 --/-/f4 --62 *914 934
East Boston Land
iT).
9
Feb
4
11%
03
9
4
Jan
3
4
Jan
7
3
1378 J'ne
24534 24534 24534 24612 24612 24612 24612 24712 248
611 Edison Elec Illum__100 8289 Jan 26 25134 Jan 3 245 Jan 260 Apr
24812
150 152
15134 154
15313 154
155/3 15612 15553 15613
445 General Electric
100 14812 Feb :3 160(2 Jan 0 15038 Feb 173 Aug
79
785 70
7914 7914 7034 80
8018
1,412
MassachusettsG
79
7934
3
4
asCos
100
7614
Feb
8
59 Jan
83 Jan 3
8334 Dec
95
90
0512 0512 95
95
9512 9512 95
9514
080
Do pref
100 9234 Jan 8 9614 Jan 18
89 Jan
97 Apr
215 215
216 216 *216 ..-- 216 216 *21534 ___
26 Mergenthaler Lino
100 21414 Jan 4 21612 Jan 26 20212 Mch 22014 Deo
312 312 *312 4
*313 4
4
*358
4
4 Mexican Telephone_ 10
234 Jan 3
*388
4 Jan 19
2 Jan
314 Oct
*120 121 *120 121 *12013 122
121 121
121
121
30 N E Cotton Yarn
100 120 Feb 3 124 Jan 3
68 Apr 125 Oct
114 111
11313 114
11312 11373 11312 11312 114
114
357
Do prof
100 111I2Jan 3 115 Jan 11
93 Jan 118 Oct
13514 136
15.512 136
136 186
13514 137
136
137
477 N E Telephone
134
100
Jan 18 13712 Jan 3
Jan
._ 139 Sep
*.._
.. _ 97
*_- 97
Last Sale 10
10
9712Jan1'917034
Pacific Coast Power 100 100 Jan 4 100 Jan 5 12614
75 feu 108 Oct
19812 19914 197, 199
197 198
197 198
--io3 Pullman Co
100 18873 Jan 4 200 Feb 11 163 Jan 1911 Aug
1134 1134 *1134 -_-- *1134 --- *1134
5 Reece Button-Hole
10 1114 Jan 15 12 Jan 17
12 Sep
934 Jan
10413 105
105 105
105 10514 105
055-8 10512 107
598 Swift & Co
100 100 Jan 24 10934 Jan 10 100 Jan 11112 Aug
az 3212 3214 3214 3212 3212 32 1-3212
3212
*32
850 Torrington, Class A_ 25 30 Feb 8 3414 Jan 3
2013 May 34 Deo
*2714 28
*2712 28
*ni3 28
Last Sale 2734 Feb'10
Do prof
25 27 Jan 18 28 Jan 14
35 Nov
2414 Jan
175 176
176 176
176 17714 17634 171
17
17
2. *
1312
4 17-:1-2 -i i United Fruit
100 16513 Jan 15 185 Jan 31 12622 Jan 170 Dec
0012 07
6634 6634 66
67
67
6714 67
1,230 Un Shoo Mach Corp._ 25 6312 Feb 4 7(}34 Jan 4 x54 Mch 71 Oct
67
2914 293i 2034 2931 *____ 2034 2934 2234 2934 2934
Do pref
202
25 29 Jan 28 31 Jan 4
2812 Jan
3114 Sep
7714 7973 70
8014 7834 7078 7978 81
7078 8118 15,598 Ii S Steel Corp
100 7714 Feb 14 1(033 Jan 3
4134 Feb
9473 Oct
11:4 11912 119 11913 119 120
11058 12014 11978 12088
Do pref
892
100 117 Feb 8 128)18 Jan 6 107 Feb 131 Oct
14
15
*11 __ *14
____ *14
. *14
___
228 West Telco & Teleg_100 14 Feb 14 18 Jan 6
19 Dec
618 Jan
*---- 01
91
91
88
89
*88 lii
pref
88
Do
88
22
100 88 Feb 10 94 Jan 3
76 Meh 96 Deo
Mining
812 812
81.2 812
814 833 *8
812
838
833
520 Adventure Con
25
534 Jan 10 1
,aecnb
t
O
305
478 IJ
1012 May
48
52
53
5312 52
52
52
*53
53
1,543 Allouoz
54
25 42 Feb 4 57 Jan 3
1
62 Oct
7334 7614 75
7633 75
7614 7714 7578 7718 16,416 Amalgamated Copper 100 7014 Feb 8 9034 Jan 3
763
9612 Nov
32
32 3____ 3134 'K..- 32 *_ _ 3112 *30
31
50 Am Zinc Lead & Sin_ 25 2834 Feb 4 4013 Jan 3
4012 Dec
23 Mch
85
50
10 Anaconda
25 49 Jan 25 5334Jan 3
:1813 Feb
54 Deo
-:11:ii.2 -1-1-- -5512 if- -5A- -iii- 391! 4018 -55" U9-3-,1 13,160 Arizona Commercial_ 25 3734 Feb 8 5034 Jan 3
30 Feb
5134 Deo
*113 113 *113 112 *118 112
Jan'10Arn
112
La,1 Sole
old
25 .80 Jan 6
2 Jan 19 .30 Dee
1 Feb
9
9
9
9
9
9
9
9
9
9
"iii, Atlantic
25
834 Feb 4 1214 Jan 14
18 Jan
8 J.IY
3,55 .60 3.1,5 .65 3,55 .65
Last Sale .55
__ Bonanza (Dev Co)
Feb'10
10 .55 Jan 20 .55 Jan 20
45 Feb .80 May
18
18
19
1918 1918 1912 1912 1958 1913 1912 1,275 Boston Con C&G(rcts) /1
17 Feb 8 2213 Jan 3
1034 Mch
2312 Deo
1812 1813 1712 1814 17
1712 1714 1734 1712 1713 1,345 Bos&CorbCop&SliMg
5 1634 Feb 7 2414 Jan 13
171$ J'ly
24 Deo
*9
10
*914 10
912 912
958 938 __
145 Butte-Balaklava Cop__10
614 Feb 8 13 Jan 10
Sep
8
1114 Dec
2412
1 2412 24
2 33 2312 24
24
24
-242412
- -- _- 1,140 Butte Coalition
15 2234 Feb 7 2812 Jan 3
2133 Fob
3358 Nov
71
72
70
7012 70
70
70
70
7012 73
990 Calumet & Arizona.... 10 63 Jan 25 103 Jan 3
9614 May 119 Jan
635 640
630 635 *630 640 *635 640
10 Calumet 6) Hecla
640
640
25 615 Feb 3 685 Jan 3 585 Feb 695 Aug
2312 2412 2412 2412 25
27
26
27
26
850 Centennial
2612
25 20 Feb 7 38 Jan 3
29 Feb
4412 Sep
3,10 __ 3.10 ___ *.10 .15
Feb'10Cons Mercur Gold_ _ 1 .10 Feb 1 .16 Jan 10 .10 J'ne .35
Last Sale .10
Jan
77
77
77
77
7634 77
77
77
77
77
1-,82; Copper Range Con Co 100 75 Feb 3 85 Jan 3
Feb
6812
8634
Nov
*8
814
8
81
71., 734
8
77
8
470 Daly-West
773
20
71. May 12 Mch
713 Feb 17
98 Jan 21
078 1012 1014 1034 10
1013
978
- 10
953
931 2,482 East Butte Cop Min_ 10
914 Feb 8 1334 Tin 3
713 Feb
1653 Apr
13.
4 173 *113 178
113 173
173 212
233
212 6,241 Elm River
12
119 Jan 24
21. Feb ls
1 Oct
213 Jan
1912 2058 19
201, 1914 20
1934 2014 20
20 4,109 Franklin
25 17 Jan 13 2134 Feb 10
13 Feb
19 Aug
973 1018
973 101
953 973
634 10
MI
978 4,835 Giroux Consolidated.. 5
J'ne
933 Feb 8 1212Jan 10
1214 Nov
78
89429112 9634 011
90
90
8012 90
88
90
504 Granby Consolidated_100 85 Feb 4 11114 Jan 3
90 Feb 11013 Deo
938 012
913 013
988 913933 91
912
912 3,164 Greene Cananea
20
Feb
878 Feb 3 1173 Jan 3
1453 Nqv
25
26
25
251_ 26
2814 2712 2814 2713 2712 3,670 Hancock Consolidated 25 21 Jan 25 36 Jan 12
814 Sep
38 Dec
453 5
*434 5
434 5
380 tlelvetla Copper
Deo
25
*412
512
Jan
43
4
4
5
21)
412
Jan
578
712 Aug
23
23
2212 233, 2213 23
23
231. 23
1,075 Isle Royale (Copper) 25 2013 Feb 8 2813 Jan 3
23
2213 Apr
3314 Feb
412 434
412 4)2
412 412
434 43.
4
. __
500 lieweenaw Copper--25
213 May
14
4
634
Jan
Jan
25
e73
4 Deo
0
918
9
9
9
918
918 912
932 -15
; 950 Kerr Lake
5
812 Feb 3 11 Jan
712 Apr
938 Aug
802 84
8134 847
81
83
8214 8312 82
8314 15,910 Lake Copper
25 60 Jan 2/ 942 Jan 22
16 Jan
7414 Deo
1834 1534 15/3 153
1512 1512 1534 16
1512 1638 1,561 La Salle Copper
25 1473 Feb 9 19 Jan 14
104 J'ly
1918 Deo
7
714
7
7
*7
712
713 718 *7
100 Mass Consol
714
25
5 Jan 5
414 Mali
1811 May
873 Jan 22
112 112 *114 13
112 112
114 114 *114
112
538 Mayflower
25 .95 Jan 3
173 Jan 13 .30 Apr
1 Dee
434 434
434 434
412 478 *412 473
412
413 1,085 Mexico Cons M & S..- 10
312 Apr
5 Jan 7
334 Feb 3
Nov
2312 2458 2373 241
2418 2413 24
2433 24
24
1,785 Miami Copper
5 2134 Feb 7 29 Jail 4
1234 Feb
Deo
*612 714
634 63
*612 7
*612 7
*612
678
10 Michigan
25
612 Feb 10
812 Jan 21
534 Oct
1314
Mch
0514 6513 6513 66
65
05
65
6512 65
65
275 Mohawk
25 64 Feb 3 75 Jan 22 25712 J'ly
7018 Jan
2212 23
2313 233
2278 2313 23
2314 2234 23
2,983 Nevada Consolidated_ 5 2012 Feb 4 2713 Jan 11
1612 Feb
30 Nov
8
818
712 71
678 712
7
7
712
734 2,015 New Arcadian Copper_25
673 Feb 16 108 Jan 12
312
Nov
8% Dec
I() /0
10
10
10
1014 1013 1018 1018 1018
795 NipIssing Mines
5
934 Jan 17 1058 Jail 11
078 Oct
13 Sep
3414 85
34
341
34
3418 31114 34
3214 3614 0,063 North Butte
15 3014 Feb 3 50 .Tan 3
47 Deo
8514 Jan
4812 1912 1719 1918 1714 18
1814 19
1834 19 12,495 North Lake
25
8 Jan 3 2034 Feb 10
1178 Aug
413 Mch
918 914
9
91. *012 1012
833 9
215 0,11bway Mining
25
814 Feb 4 1234 Jail 14
1413 Dec
534 Nov
1
1
*1
8 *1
13133 *1
113 --.11-4 -1-1-4
200 Old Colony
25 .65 Jan 8
134 Fob 1 .40 J'ne .90 Deo
4418 4418 *4312 4412 4312 44
44
44
Dominion
4434 45
610 Old
25 3914 Feb 8 55 Jan 3
59
Aug
4714
Feb
151 151 *151 151112 151 152
15112 15112 150
151
465 Osceola
25 143 Feb 7 166 Jan 3 122 Feb 170 Deo
20
20
20
2034 20
20
1034 1934 20
1,525 Parrott (Sliver & Cop) 10 1912 Feb 4 2134 Jan 3
21
Dec
31114 J'ne
19
82
82
82
84
84
90
89
90
89
Santanc
89
771 Q
ui
25 79 Feb 8 9113 Jan 12
83 Dec
99 Jan
214 214
213 218 *2
214
218 213
218
}
218
I;c (Gold & Cop) 10
320
213 Feb 10
284 Jan 3
112 Nov
273 Jan
15
1514 15
1534 1518 1514 1514 153.1 1514 153 2660 Shannon
10 1413 Feb 3 18 Jan 3
13f3 Feb
1778 Jan
2% 3
234 278
3
3
234 234 --------_
440 South Utah AI & S
Jan
5612 57
5712 5834 • *57
5712 5712 5878 88
54 3,259 Superior
25
5 42
87
13
2F
30
0/ Dec
3
4
4(4 Jan
Feb 8
1°
7 6383144
14
1412 14
1412 1373 14
1313 1373 1313 1334 1,150 Stiocrlor & Boston Mb n 10 1314 Feb
1318 Nov
1812 May
3 18 Jan 12
1334 1414 14
14
*1334 11
1312 1312 1,760 Superlor&PItts Copp_ 10 13 Jan 25
1334 14
1278 Apr
1653 Jan
1812 J'iy
n 10
75
75
75
713
74
75
7313 74
710 Tamarack
7314 7314
25 62 Jan 25 78 Jan 6
62 J'ly
90 Feb
812 834
813 834
812
812 9
812 812
9
765 Trinity
25
818 Feb 15
1138 Ja
1753 Jan
39
4014 3914 4034 39
40
3912 40
3934 3973 6,004 IT riltedStatesCoal&011 25 3334 Fob
28 Jan
3912 Nov
4034 Feb 15
4412 45
4414 4514 44
45
44
4434 4453 45
4,700 U S Smelt Ref & Min_ 50 4234 Feb 8 55 Jan .3
39 Feb
59 Sep
50
5014 50
50
4934 4934 4934 4034 404 5014 3,701
Do prof
9)2}
Fse
44
eb 3
94 Jail
4 55
ainl
3131 .JTa
54 Oct
414 414
4
4
4
4
4
4
4
414
375 Utah-Apex Mining
505
i
4 Oct
634 Jan
3338 38
3114 34
29
31
3014 321. 1014 3212 14,411 Utah Consolidated_ 5 29 Feb le 40 Jan i
3714 Feb
4934 Nov
4912 51
5078 5078
---------lit)Utah Copper Co
5013 5013
10 45 Feb 8 6012 Jan 3
3934
Feb
66
No*
412 412
412 412 -438 --4-3-3 *1
438 *4
438
183 Victoria,
25
4 Jan 31
3 Oct
534 Jan 14
0 Deo
934 934
*10
934 10
1012 *10
1012
912
912
40 Winona
Feb 18 15 Jan 14
434 Apr (1314 Deo
25
512
138 14112 141 14134 140 140
111 141
140
141
258 Wolverine
25 133 Feb 4 150 Jan 3 139 Mch 158 Aug
238 254
234
234
234 314
3
314
3
313 6,455 Wyandot
25
21..lan 6
334 Jan 14
4 Jan
2 Oct
•Before pay't of assesets called in 1909. • Bid and asked micas. d
New stock. I Ass't nald. b Ex-rant:1r
8 RE ricrhta a hr.rilsr.
rlohtm
1143 11512 115 11558 11412 115
115% 1155 11514 116
*10312 10412.10312 10412 10312 10312 104 104 *10312 10412
230 230
230 230
231 231
230 231
231
232
129 12912 129 12912 12912 130
12912 12912 12912 130
*225 __ 225 225 *__ 226
225
225
iii" Ili" *148 149
148 14812 148 148
148
148
*_ 300 *____ 298 *____ 297 *_ __ 297
296
296
*15 ____ *15
__ *15 ____
-Last ,Sale 15
Feb'10
*72 -_-- *72 ...._ *72
__
Last Sale 73
Feb'10
Last Sale 10
Jan'10
*43 ____
44
44
42
4312 *42
44
44
44
___ ____ ___ - 15312 15312 15312 15312
Boston Bond Record
FEB. MI 1910 I
IION
•*•?.
BOsToN sTOCK 11X(114•(4E
%At
/Ka 18
.;41
495
RON Ds
o
lill Ranee
Week's
nO
Price
Songs
BOSTON STOCK EXCH.GE
t
Range or 0 2
Since
Fridab
Range or So
Sinew
WI= ENDING FEB 18
Last Sal.e ,,,IM.Tan,,ary I
Last bale
•14, 146 18
January 1
il
Bid
Ask Low
Nigh' No Low Bich
4,5 Low
Rich Se Lew Iligh
Bid
Am Agrioul Chem 3et4s 1928 A o 102%
Illinots Steel deben 6s....1913 A-0 100 ...,- 100
'
,
eta 102% 103 1 20 102 103
141033 6 100 101
Am Teieg se 're, con u 46 1929 J
slue 914
91341 491 914 9$4 Ia Falle &Sioux Clet 78-1917 A-0
Apr'08
•
117
.
Convertible 4s.
1936 FA-8 1025 Sale 102 1s 1024 5'1014 1047
. Kan 0 Cliu d5 Spr 1st 6s. .1923 A-0 96
*17 Jan'10 .... 97
97
Am Writ rimer 1st s 16s g 1919 J -J
.11
Marune
Kan
C
Ft S&Gult ext 58..1911 41-11 99
83
Feb
.
10
....
9934 99%
9933
AmZ1noL& el deb ea
19141.'4
150 160 Jan '10 ••-•,150 153 1 Kan 0 Ft Scott & M 6s....1928 M-N 11534 1184 118
116', 0 118 11$
Ariz Corn Cop 1st cony 6s 1918 E-8
152 1674' Kane M & /3 gen 48
152 Feb'10 1984
M-8
934
934 934 2 98
1434
Atoll Top & S Fe gen g 46 1995 A-0 100 Sale 100
3 993 101%
Assented income Se
100
1934 80-8 91 Sale 91
91
6 91
92
Adjustment g 414....Xly 1995 Nov 94 Sale 84
1 94 94's Kan C & M By& Br lot 581929 A-0 103 Ha:. 103
94
103
1 102 1.03
Stamped
Ply 19
995
35 E t 04
Maine Cent cons let 7s.1912 A-0
03% Nov•09 ... ...
98
'
08 •••• ...... ••••••
11333 Nov
50-year cony 48
Cons lot 4s
J.
119 Dec'09 •
...
1912 A-0
101% Sep'
05
...... .•••••
10-year cony 5s
1917 J -D 115
Morn Hough & Ont ist 85.1925 A-0
1204 Ang'09
115 J'ne'08
4A1 Gulf & W 185 Lines 55.'59 J-J
Mass Gas 412s
ldq 864 73
88
87
70
1929 ,/ J 984 Sale 984
68
98% 13 977g 98%
Boston Elect L conaol 68.1924 E-13
hlich Teleplst 5a
110 Feb'04. ..
1917 J.J
••
Boston & Lowell 4s
1918 J.J
Minna Gen Eleo con g 5s 1929 J-J
1004 Mar'09 ••••
10114 Ane04
......
Beaton os Maine 44s
1944 J.J
New ling Cot yarn 6s....1929 F-A 104 Bale 104
1041
/
4 Oct'08
104
8
104
1044
Boston Terminal let 348.1947 F-A
•
New Eng Teleph 5e
1124Jan'03
1915 A-0
102 Feb'09
Bur & Me Erv cons es ....1918 J.J
As.
108 Feb.10.. 103 108
1916 A.0
UM%SeP'QS •-• ......
Butte & Boston 1st 6e....1917 A-0
New England eons g 68 1945 J-J
"--""
100 •T'ne'01 . ....
Butte Rice& Pow lst g 58.1951 J-D
Boston Term let 48
100
1939 A-0
Cedar lIsp & Mo It let.18.111113 M-N
New River(The) cony 58 1934 J.J
117 J'ne'08
774
774 78
78
21
774
79%
Cent Vermt 1st g48..Mit,y1920 4-F 85 87
N YN H& H. con deb 8431966 J -.I
87
10 88 88
86
10134 DeOill9
o B & Q Iowa EAT let 63.1919 A.-0
9103 Oct'07
Cony deb 6 (Ws)
1949 J-J
1 /
1
4 I so. 0 1843 .
iirs;
Iowa Div lat 48
1919 A-0
9933 Ply 09 .
Old Colony gold 4s
1924 F-A
M. Apr 4./9. ..
Debenture 5e
1913 M-N
1014Jan'10,
101.4101% Dreg Ry & Nay con g 48-1948 ./.D
98% Sep '1110.
Denver Lxten 45
1922 F-A
994 Feb110'
994 994 Dreg Rh Line let g 68
1922 F-A 116% sale 11633 118
1 1163311633
Nebraek a Extee 4s
1927 M-N
993s
09% 1 99%
9 9 % Pere Marquette deb g 68 1912 3.3
984Peb•10
99% 98%
ob8Wat 4n
1921 M-S
'09
Oct
„
Repub Valley let 8!6s.,1919 J-3 102%
99
105 Dee'08
Illinois Div 3ise
1949 J J
Rutland let con gen 448.1941 J•J
88 Feb'10 . 88 82
1074
sov,
05
.
Chic J o Hy da gtk Yos 58 1915' J.J 1014 Sale 101
101 is 44 100% 101%
Rutland-Canadian let461949 J-J
102 l'ilat'02 •••• ...... •.......
Coll trust refunding g 481940 A.0 914 Sale 91%
92
18 91
927 Savannah Elea 1st cone 53.1962 J -J
984 May'08 •
Oh 1,111 & St P Dub D t38 1.1120 J -J
115% Jan'1011541164 Seattle Eleo let g 513
1930 F-A
1044 Jan'10 .... 1044 1044
Ch M & St P Wis V div 681920 UJ
Shannon-At lz cones(recta)'19
128 Feb.05 •••• .....
•• 0
105
Feb'10 .••• 1024110
Chia da No Micelle" gn 58.1931 M•N
Terre Amite Rico g 68. 19291J
103 mop'09 ....
97 Apr'07 •••
Ohio .5 W Mich gen 58
1921i1.0
Torrington let g 68
iJ 103%Ian'10 ••••
..104
1918 E-I3
100 Nov'0' ....
•.........
Concord & Mont cons 4s.„1929 J-D
Union Pao RR & 1 gr g 419 19471J•J
81 De0.07 •••• ......
000
10274 Dee 'it
••
(loon & Pass It lot g 4s...1.943 A-0•••
112¼ Jan'03 •• ......
20-year oonv 48
1927 3.3
1104 J'ne'09...
Cudahy Paok(The)lst glfs 1124 M-N .99
. 100 1004 Ang'09
Uniten Fruit gen s 448 1923
J
96
98
984 23 98
Ws
Current River lot tat
1617 A.O.
96 Feb.09
US Coal.5 Oil 1st of 88 19384A-N • ••••
155
100
41 163 180
Dot Or hap & W lot 48...1910 A-0'
90
US Steel Corp 10-80 yr 58.19631M-N
91 Oot'09 ...
10433 1054 3. 103% 10634
Dominion Coal let s 1 5s..1943M-N
98
Street
End
West
By
48
98
1915
198
F-A
10114 Apiro
981
Flton burg 4s
19161M-8
103% Apt'05 ...
Gold 449
191480-S
1.0134 311e/09 ••
4s
1927 hl•S
Gobn deoenttire 48
96 Apr'0$
1918 11.1.14
...
934 Feb.10 .....1 994 994
Fremt Elk & hio V let 80-1933,A-0
133 Mar'09
Gold 48
19171F-A
99 Febil •.
99
99
IT natampeit let do
19331 A-0.
Western Teleph & Tel 58 1932',3.3 9834 Sale 98%
140 A.pr'05 .
99
V)
. 93 99
Gt Nor0 IS & coll tr 48 10211J•J1 11634 Sale 964
9878 241 9633 04, Wisconsin Cent 1s1gen 481949'3-J
11433Ian'10 .... 9433 9433
Registered 4s
1921 4.41 964
983
,Feb'101....11 96% 96%1
- Nova-Buyer pays accrued interest In ad41t/011 to the purchase pries for all Boston Bonds. * No price Friday; latest bid and asked. 9 Flat
price.
Price
bridals
Feb 18
1
Philadelnhia and Baltimore Stook Exohanges-Stook Record, Daily, Weekly, Yearly
Share Prices-Not Per Cantina Prices
Saturday
Fob 12
Monday
Feb li
Tuesday
Feb 18
49
124341',64
24
24
23% 24
*444 454 44.4 46
13
Li
13 18
• .
•
•
404 4833
1*,
48
484
*11% 12
57¼ 58
8
324 83
ti
X794 804
X
11
11
6
24
24
103 1034
W
149 1014
1167e 884
OU
50
i
1414 143
tl
284 26
9.
non 82%
14
833 6
51
614
•
.
93% 94
•
PHILADELPHIA
49
41
Thursday
Feb 17
49
Mda2s
Sib 1
50
50
125 125 *1244
1244 125
12441244
•231
244 24¼
/
4
244 24¼
2434 254
044% 45
444 45
4533 4534 4634
45
*134 1114 138
, 13%
13% 1334
14
144
I Bid
5
g
VI
i-i
0
ti
It
11
I
i
Ask
Inactive Stocks
Allegheny Vol pret....50
Amal Asbeetoe Corp.10
36
Preferred
100 05
Ameticau Milling
10 14
Amer ripe MIK
100
Bell Telephone(Pa).100
'Umbria Iron
60 40
47
Central Coal .5 Coke.10t
824 884
Oonsol Trao of N 3...10
Seaton Con Electric 0.60
Klee Storage Batt....100 68% 6034
Preferred
100
Ft Wayne &W V
10
Germantown Pass
6
Indianapolis St
100
Indiana Union Tr....100
Insuranoe Co ot N A..10 234
Inter Sin Pow & Chem.50
Keystone Telephone -60 114
Preferred
50
KeystoneWatcheame.100
110
Lit Brothers
10
Little Schuylkill
50 6101
Minehill & ISchuyl H 6
614
X Haven Iron & ateeL6
Northern Central
60
North Penneywania.„60
Penney' RR receipts.
Pennsylvania nait
5 108 109
Pennsylvania .-ieel..100
100
Preferred
Phtlis Co(Pate) preL..60 44
444
Phil German& Norrui.50
Phila Traction
50 884
Railways General
11
10 10
Stiequeti Iron & Steei..5
Tidewater Steel
10
Preierred
10
Union Tr of Ind
100
United N J BB db c..100 2484
Unit Trao Pate preL.50
Warwick Iron & Stee1.10 111
/
4 II'g
West Jereey & Sea8h.50 63
64
Westmorelaud coiu....60
Wilkes Gas & Etec..1011
•Bidand asked; no °ales on this day.
Wednesday
AO 18
ACTIVE STOCKS
Sales
olyee
t (For Bonds and Inactive
Stocks see below)
6hares
.liange Since
Ja t 1
Lowest
Range for .Prerotous
Year(1909)
SWIM
Baltimore
170 Con.Gas EL L. & Pow 100 48 Feb 1 50 Jan
Do p
100 85 Feb 8 8834Jan
573 Northern Central
50 115 Jan u123 eel)
721 Seaboard(new)
100 22 Feb 8 274Jan
814'
Do 2t1 ore!
100 43 Jan 25 47 Jan
1,903 United Ry & Electric 50 1234 lieu 7 144 Jan
Lowest
4
6
1
3
8
4
llighut
30 Ma 48 Dee
78 Mar Si) May
100 Jan 1214 Deo
1134 Feb 284 Deo
2234 Feb 48 Dee
934 Feb 144 Deo
Philadelphia
•
28
,26
28
'American Cement
50 x26 Jan 8 28 Jan 3 25 Dec 43 Jan
;764 48%; .46
4'7
4634 46%
122 Amerman Railways
501 484 Feb 8 50 Jan 6 4430'ly 48 Dec
48¼ 487e' 49
49
404 48% 8,892 Cambria Steel
50 45'4 Feb 3 534Jan iii 324 Feu 49% Deo
*1134 12
•111% 12
.1134 12
I.E1ectrio Co of America 10 x1178 Jan 2U 124 'tin 14 x104Jan 124Ply
84 53
584 59
684 6034 1,792 Eleo Storage 13attery..100 36 Feb 8 63 Ian 10 43 Jan 834.1'1y
3234 3234 32% 33
323
. 327s 2,385 U eu Asphalt tr ct1s ....100 28 Jan 25 344Jan 29 16 43 J an 334 Deo
8u338033 804 504 894 804 2,410
Do pref tr ctfis ....100 774Jan 2.• 844 Jan IU 63 Jan 84%Dee
114 ii', i/4 114 114
500 Keystone Telephone... 50 94 Feu 7 13 .an 10
94Jan 15 Apr
2334 244 244 2433 24
244 1,114 Lake Su erior Corp. _100 214 Feb 3 28 4 Jan 3 14% Jan 3378May
102 1034 102 10233 102 102
1,236 Lenigh & Nav tr cif& 50 x101 red3 123 Jan 7 98 .1
125 4 Deo
100.11024 103 1041
/
4 10341004 41,660 Lehigh Valley
60 93 Feb 4 1 11 78 Jan 3 87 Feb 113 Sep
RI
664 684 6634 tid 4 6e7s 2,376 Pennsylvania. RR
50 (1470 Feb s 68%Jan 3 834 Feb 75% 8611)
604 5133 51
514 MA 614 3,157 Pluladelp'aCo(Patel)). 50 434 Feb 8 834 Jan 8 404
Fee
s Des
1434 16
16
15% 153s 19 54,29e Philadelphia EiectrioS. 25 is% i,su 3 18 r eul8 114 lob 517
144 Deo
28 28% 26% 26
264 28
6.413 Philo Rapid Transit
50 244Jan 111 234Jan 11 24',Jan 384 Apr
8934 84% 844 8434 8313u4 86 10,77i Reading
50 7764s J an 2i 86 Feb le 694 Feu 8634 Sep
03, 641
0
4 IN
84 834
249 Tonopah Mining
1 ti 4Jan 4, 714,4 Jan 4 634 Jai, 71314; hfar
51
514 507 51
604 61
1,780 Limon .PractIon
50 6U Jan 1- 6234 .an 3 50%Jan. 58% May
086% 88
88 874 874 8774 10,298 United Gas Impt
60 z8634 Feb le 1164Jan lte 9433 Ata 9539Dea
_.
111
/
4
PHILADELPHIA
1 Bid Ask
PHILADELPHIA
BALTIMORE
Bid 1Ask
1 Bid Ask
Bonds
Ph & Read 2d be '33.A-0 116 11118L, Chas Citylty 1st58'2334
61 102 ••••••
Prices are all "and
Con hi 7s 1911
J-D 103%
Chile By & fos'99 M.
Interest."
Ex Imp SI 4s g'47.A.-0 101 '
chart e& A 2tt 76'10 A-0
Al Val E. ext 78 1910 A-0 100%
Terminal 5s g 1941.4-F
City& Sub let5s..122J-D
Alt &LVEleo 448'33.F-A 92
04
P W & 11 col tr 413'21.J4
Cayes auli(Was)let 58'48 103's 104
Am Rye couv 58 1911.J-D 98
Portland By let Os 1930.
1
Coal& I My lot 53120E-A'
$
All City let 5s g'19.M.N
loch Hy& Lcon 58'5434
Col&Urnv lettfa.1918J-J 107..
Berg& EBrw 1st68'21 J4
Spanish-Am Ir dis '27 34
Cousol bias 6e...11110J-DI
100%
Betide Steel tle 1998.4-F
IT Trii43 Ind gen 53'1944 924' 95
117
68
1939 J-D
110
°Iwo& Me 1st53 1949 J4
111
Un Rye Tr °tie 48.49J&I
1 77 Ga.& Ala letcou 66'4534
Ch Ok & G gen 68'19 J-.1 10434 105
United Rye Inv 1st oolltr
Ga Car&N let56 g'29.14 11144 104%
Col St By let con 58 1932
et us MO
M.1.1 844! 85'4 Georgia P 1st 88. .'22 J4 11333
ConTrao of NJ let 5s.'33 10
U Trao Pit gen 6s'97 34
07
4is
106¼ GaSodb Fla let68 1945.141 ...... 108%
B&AlstM 58 1920 111.N
Wale boob s t 6s 1930.3-D 964
1.4-B-S Brew 3-461951M-8 41
62
Eleo & Peo Tr stic tr etre 92
.
92.2 WIlte-B U&E0008'5314
102 ' 2d income 58 1951
•.....•
Eq II Gas-List g 58 1928
BALTIMORE
Knox v
let be'28A-0
Indianapolis Ity 48.1933 /134 84%
Inactive Stocks
Lakelt El let guoie4251-S
Interstate 48 1943 .F-A
62
Ala Conn Coal& Iron.100
30
Alaconity&Ltlau5s'63J4 Jb
Lehigh Nay 44s '14.44 102%
Prost
100 80
Memplun at Lot 68'46 J-J
••••••
lilts 48 g
1914.4-F
Atlanta & Charlotte..100 185
Waskgst6s125 F A 109
Gen M 44s g 1924.4 F 1024
Atlan Coedit L (Conn)100 250 280
Mt Ver Cot Duck let 614.
76
bell V (1 let 5/3 g'33 .J.J 109%
Canton Co
100 105
Npt N&u.k•lei5e'38 1§L.N
Leh V ext 48 let 1948.3.D 109
Cons Cot Duck Corp...50
Norfolk St let 66'44..34
2d 78 1910
M'S
Preferred
50
North Cent4451926 A-0
U0/1801 68 1923
J-D 119 120
Georgia Sou & Fla 100 294
Series Abs
••••••
Annuity 68
J-D 148%1404
lot prat
97
• Series 11 50 1S'46...J4 ••••••
100
Gen cons 4s 2003.M.N 97% 974
2i1 pref
100
On Trao be 1907.34 ••••••
Pitt
73
Leh V Tran con 4846J-1
Gi-B-8 Brewing
...• Pot° Vol lot 58 1941,J4 •••••••
100
ew Con Gas 501945 J-D 108
Say
Bonds
& Weat 58'34 A.-0
ewark Pass con 5s 193
Prices are all" and .
Seaboard.A L 40 1950 A-0 62% 84
NY Ph & No let4s'39 J4
interest."
Semi & Roan 53 1928.33 106
Income 4s 1939...hl.N
Anacostaa & Pot53
102% 108
Mouth Bound lot 58..A.-0
00000
NuinnuTrao con58'19.34
AU& Ch ext 44s '10.34
U El L&P 14,448'29 M-N
Penn gen de 1910
Atlan I) L R1t44195214.8
Var 1904
WI By& El18145'49
86% 37"
Consol 58 1919
Var
AU Coast L(Ct)ctfii5eJ-D
Ine.ome 48 1949
JD 814 814
Penn & Ald Steel eon Os.
CUte of indebt 4s.
.J4 90
Funding 68 l9313...3-D 93% 84
Pa db NY Can 5s'39.A.0 118
6-20 yr 4.0 1925
J4 02
93
Vs Mid 26 ser de '11.M.0 1014
Con 4s 1939
••• Bahl:Ploa lat es'11 M-N 1004 190%
A-0
3tt series de 1916-11-13 107
Penn Steel lot58'17 hi-N 101
Ball Yundg 58.1918 M-N
4th ser 3-4-5e 1921./1-8 107's
People's Tr tr cells 4e'43
Exchange 34s 1930 J-J
5th series be 1926.M-18 108 106'4
P Co 1st& coltr 58'49 Si-S
1044 Balt& P W681111'11 A.-0
Va (state) 38 new '32..14
Con& ow tr 53 195151.N 118
1484 13/3P&O ist4 48'53F-A
94', Fund debt 2-38 1901.33 ....
Phil Klee gold trust infs 102 1024 Balt True 1stfis..'21151-N 108% 1004 West
N C con 8611414 J4 10614
Trust certifs 4s
77¼
No Salt Div 5619423.D 11212'
Wes Va C&P lett:45'11.14 101 1014
P & It gen MO g'20.A.0 1084 1094 Cent'l By con581J32 /11-N
Wu de Weldon-11136.3-J
gen hi 44 g1920..A&O 101
Ext,& Imp 6s.11132 hi-S
-- ---I1Ex-righte. I 87.50 paid. $124 paid. 813% paid. *235 Paid. is Receipts. b $25 paid. 8830 paid. d$12 Rai&
..
THE CHRONICLE
4913
Alnlestinent
[VoL.Lxxxx.
and Aattroact intetttgence.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every S rA NI railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, awl 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 subsequent page.
Latest Gross Earnings,
ROADS.
Week or
Month.
Curreitt
Year.
July 1 to Latest Date.
Previoui
Year.
Current
Year.
Previous
Year.
3
3
1
3
Ala N 0 de Tex Pac
N 0 & N East.-r January __
292,871 296,130 2,007,488 1,826,945
Ala & VIcksb___r January __ 146,057 140,331 1,019,575
954,009
Vicks Shr & Pac.r January __
126,430 127,295
880,024
852,404
Ala Tenn & North_ _ December..
8,083
39,420
6,135
31,932
k Atch Ton & S Fe_ December.. 8,380,776 3,168,070 52,897,541 47,283,005
Atlanta 1.11rm & Atl 1st wk Feb
54,630
43,193 1,567,744 1,227,245
Atlantic Coast Line December.. 2,892,845 2,535,101 13,973,645 12,225,610
°Baltimore & Olaio_ December 6,836,787 6,205,632 44,070,620 39,147.007
Bangor & Aroostook December.. 220,437 215,871 1.415,670 1,396,382
Bellefonte Central_ _ January __
5,261
5,290
41,385
42,449
Boston & Maine_r December.. 3,436,361 3,189,131 22,756,189 20,472,504
Bridgeton & Saco It December..
3,635
3,323
26,230
26,778
Bull Roch & Pitts_r 2d wk Feb 162,691 126,667 5,725,367 4,530,307
Buffalo & Susq_a December.. 172,832 207,742 1,258,424 1,172,191
Canadian Northern_ 2d wk Feb 189,300 120,700 7,939,600 6,401,800
Canadian Pacific_ _ _ 2d wk Feb 1,450,000 1,157,000 53,820,511 47,714.657
Central of Georgia_ 1st wk Feb 244,400 233,100 7,507,751 7,126,506
Central or New Jer_ December.. 2,790,926 2,135,883 14,432,471 13,079,915
Central Vermont....r November_
323,147 283,959 1,693,612 1,556.781
Chattanooga South. 1st wk Feb
2,810
1,509
50,714
52,791
Chesapeake & Ohio. 1st wk Feb 507,799 419,207 18.624,335 15.931.782
Chicago & Alton Ry 1st wk Feb 250,419 219,581 8,436.757 7.897,598
Chic hurl& Quincya December.. 0,561,482 6,742,322 45,410,618 41,602,595
p-Chicago Gt West_ December.. 887,517 943,570 5,930,968
Chic Ind & Loulsv_ 1st wk Feb 111.966
85,255 3,592,273 3,210,804
Chic Did & Southern -See IN.ew York Cen trai.
Chic 8111 & St Paul -r December.. 4,345.148 4,933,892 33,912.580 32,507,709
Ch Mil & Pug Sda December.. 800,978
Chic & Nor $1,est_ a December.. 5,340,466 5,234,347 39,165,192 35,333,130
Chic St P Al & o__r December.. 1,102,151 1,150,351 7,790,841 7,137,790
Chic Term Trans--r November_ 111,867 101,479
514,726
484,503
Gin Ham &
December.. 743,159 659,829 4,977,942 4,249.865
Clev (Mn Chic & St L -See New York Cen tral.
Colorado Midland_r December. 184,850 195,318 1,307,570 1.229.782
h Colorado & South ed wk Feb 309,635 310,669 10,639,905 9,954,686
Colum Newb & Lau December..
24,701
24,860
143,124
141,422
Copper Range
,November_
67.054
59,424
341,152
354,121
Cornwall
December..
20,792
10,280
95,427
39,535
Cornwall & Leban-r December..
41.052
28,378
235,232
158,338
Cuba Railroad
December.. 211,583 174,340 1,019,266
847,610
1 Delaware de rind_ r December.. 1,758,680 1,564,900 10,301,183 9.610,577
Del Lack & West__r December.. 2,998,097 2,783,494 18,487,874 17.226,299
Deny & Rio Grande 2d, wk Feb 406,500 316,800 14,887.376 13,127.656
Denver N W So Pac.. 4th wk Jan
15,231
8,737
612,216
456,894
Dct Toi & front Sys 3d wk Jan -. 27,718
24,515
913.485
947,434
3d wk Jan
Ann Arbor
42,654
35,624 1,067,309 1,034,425
Detroit,& Mackinac 1st wk Feb
22,994
19,870
715,486
667,645
Dul & Iron Rangea December.. 139,362
77,659 6,476,335 4,673,825
Dul Sou Shore & Ati 1st wk Feb • 51,323
50,015 1,990,951 1,629,931
El Paso & Sou W__r December. 611,620 632,801 3,573,877 3,417,007
Erie
December.. 4,575,497 3,093,199 28,447,031 26.068,409
. Fairchild & Nor E._ December..
2,084
1,608
11,798
10,103
Fonda Johns & Glov December..
64,841
56,325
397,382
452,698
Georgia Railroad
December.. 282.259 246,489 1.580,708 1.479,249
Georgia South & Fla -See :lout hern Rail way.
Grand Trunk Syst _ 1st wk Feb 729,669 603,530 26,749,728 24,199,559
Gr Trunk West_ _ 4th wk Jan 154,356 142.774 3,531,082 3,286,655
Del Cr Hay & Mil 4th wk Jan
52,505
40,105 1,210,148 1,033.093
Canada Atlantic.. 4th wk Jan
51,590
34.587 1,250.594 1,111,037
Great Northern Syst January __ 4,093,940 2,720,995 38,992,447 33,535,541
Gulf & Ship island_ December.. 187,082 181,263 1,086,713
939,953
Hocking Valley
December.. 550,233 442,117 3,904,224 3,458,169
Illinois Central.-- - January __ 5,080,263 4,831.070 36,139,908 34,073,898
1st
wk
Feb
Nor_
141,000
138,000
5,333,404 5,146,753
Internet & kit
a Interoceanie Mex_ 2d wk Feb 195,912 158,143 4,486,355 4,072,464
53,427
2d wk Feb
52,338 2,087,579 1,867,833
Iowa Central
Kanawha as Mich_ _ December.. 201,486 156,097 1,386,642 1,200,114
Kansas City South.. December.. 801,949 734,550 4,668,746 4,482,637
33,000
23,500 1,061,751
741,184
K C Alex & Orient_ 1st wk Feb
December.. 3,022,705 2,605,388 18,237,719 17,021,729
Lehigh Valley
December..
36,982
Lexington & East
27,962
224,531
192,780
December..
Long Island
Inc.90,840
Inc.728,833
Louisiana & Arkan_ December.. 102,266 102,468
639,081
570,062
Lou Rend & St L.._r November_
100,072
78.398
496,916
430,500
s Louisv & Neely_ _ 1st wk Feb 1,056,215 901,590 31.415,073 28,105.985
Macon & Ilirming'm January _
10,702
10,478
88,140
84,604
Maine Central
December.
662,889 613,836 4,670,213 4,336,818
Manistique.
December..
3,035
3,192
19,775
26,048
Marytend ee ren na _ November_
33,662
29,622
182,675
170,265
a Mexican Internet_ 2d wk Feb 227,531 158,405 5,314,825 4,260,669
a Mexican Railway_ 4th wk Jan 209,600 178,900 4,531,200 4,001,800
a Mexican sout•ern 4th wk Dec
37.587
36,755
642,326
:20,723
Michigan Centre.- See New 1 cult Centr a'.
Mineral Range
lit wk Feb
14,681
15,943
519,067
505,450
Minneap & St Louis 2d wit Feb
80,592
56,257 3,152,057 2,695,830
Minn St P'3)SS MI 1st wk Feb 381,155 320,895 14,787,916 12,614,787
Chicago Div .sionj
Mississippi Central_ December..
77,485
59,077
434,338
332,666
Missouri Kan & Tex January _ 2,115,584 2,005,219 16,272,424 15,797,588
Alo Pac h iron .t1
Central Branch..) 2d wk Feb 095,000 878,000 33,214,089 29,466,106
32,843
S Mobile Jack & IC C Wk Jan 8
32,457
863,660
829,817
Nastiv Chatt h St L December.. 918,368 910.510 5,698,548 5,544,266
a Nat Rys of Mexico 2d wk Feb 1,021,607 1,004,659 30,194,383 28,905,030
Nevada-Cal-Oregon. sit wk Feb
6,136
5,482
227,667
297,533
Nevada Central_
December..
6,164
39,052
6,352
41.589
1411:11)
872.183
273.521)
N 0 Great Northern rIppernhpr_ 1241)511
Latest Gross Earnings.
ROADS
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Dale.
Current
Year.
Previous
Year.
S
eNYCdc Hud RIv_ December.. 8,012,453 7,271,376 50,393,001 15,616,761
Lake Shore & Al S December.. 3,970,469 3,531,308 24,865,848 21.240,352
n Lalze E & West December.. 405,209 383,743 2,870 647 2,405,041
Chic Intl & South December.. 323,035 263,201 1,706.630 1,388,785
Michigan Central. December.. 2,345,051 2,099,35 014,825,00 012801231
Cleve C C & St L_ December.. 2,438,616 2,253,288 15.149,717 13.441,908
Peoria & Eastern December.. 283.412 250,396 1,690,474 1,466,437
Cincinnati North_ December..
582,749
95,897
653.059
85,673
Pitts & Lake Erie December.. 1,370,792 025,055 0,056,304 6,294,905
Rutland
December.. 240,700 212,100 1.732,377 1.521,713
N Y Chic & St L_ December.. 958,334 873,354 5,404,732 4,712.437
Total all lines_ December.. 20554863 18148846 128340013 111562320
N Y Ont & Western December.. 636.051 634.063 4,449,260 4,340,200
NYNH & Hartf_r December.. 4,949,623 4,355,091 31,081,004 27,650,705
N Y Susq de West
December.. 310,420 284,617 1,746,590 1,581,913
940,871
Norfolk & South...a November.. 228,606 105,490 1,091 545
Norfolk & Western_ December.. 2,786,559 2,376,079 17,329,917 14.700.576
Northern Central
December _ 1,148,240 969,540 6,667,654 5,947,654'
Northern Pacific. r December.. 4,339,907 5,640,601 10,071,710 37,645,175
Pacific Coast Co
December.. 603,000 488,795 4,276,797 3,366.604
Pennsylvania Co...r December. 1,019.804 3,205,977 27,768,343 21,675,345
d Penn-E of P & 5 December.. 13877317 12266417 83,424,241 72,276,441
d West of P & E.. December..
Inc.0.20 0,800
11,100
Pere Marquette
January __ 1,146,294 1.096,667 0,413,437 8,322,956
Phila Ball & Wash.. Decemoer.. 1,480,203 1,414,003 9,155,838 8.404,138
Pitts CM Ch & St L.. December.. 2,774,370 2,221,904 16,730,533 13,944,794.
Raleigh & Southp't. December..
11,854
14,236
77,096
63,146
iteadin; Coinpaly_
Phila & Reading.. December.. 3,936,286 3,744,102 22,280,517 20,207,432
Coal & Iron Co.... December.. 3,497,748 3,471,324 15,889,783 17 233,128
Total both cos.._ December.. 7,434,034 7,215,423 38,170,302 37,530,559
885,087
Rich Fred & Potoin December.. 188,882 164,316 1,019,038
Rio Grande June__ _ November.. 110,902
79,097
383.640
491.225
1st wk Feb
12,507
310.388
RIO Grande South
7,813
371,891
Rock Island System December _ 5,079,706 5,435,015 34,730,741 31,878,360
730,098
137,439 131,946
St Jos & Gr Island_ November_
753,747
St Louis & San Fran December.. 3,510,097 3,390,320 21.531,164 10,504,470
December.. 1,046,620 980,821 6,018,725 5,357,950
Chic & East Ill
I Evansv & Ter H December.. 201,624 177,616 1,287,622 1,120,569
Total of all lines_ December.. 4,759,242 1,557,766 20,937,512 25.901,008
St Louis Southwest 2d wk Feb 226,744 222,051 7,157,341 6,797,209
San Pad L A & S L.. December.. 631,597 601,136 4,100,843 3,496,296
Seaboard Air Linea
Atlanta & Birma }Decemb r 1,746,036 1,574,509 9,507.302 8,304,877
Florid. W Shore r
Southern Incliana_r December.. 115,124
87,992
719,690
617.982
c Southern Pac Co
December.. 11316036 10592952 69.051,083 62.781,148
Southern Railway.... 1st wk Feb 1,134,978 1,010.441 34,803,823 31.034,541
Mobile &
1st wk Feb 205,270 202,657 0,349,772 5,949,574
Gin N 0 & Tex P.. 1st wk Feb 175,700 143,824 5,308,848 4.694,742
Ala Great South.. 1st wk Feb
73,842
58,442 2,465,706 2.180,346
43,438
Georgia So & Fla 1st wk Feb
45,083 1,417,869 1.174,594
20,216
1st wk Feb
21,603
764,362
678,594
Texas Central
Texas & Pacinc_ _ _ _ I St wit 1.0) 290,820 262,26:: 0,982,110 0,428,826
Tidewater & West_ r December..
8,330
41,273
6,955
36,406
Toledo & Ohio Cent December.. 351,311 275,560 2,227,573 2,473,168
722,372
682,396
20,544
Toledo Peer & West 1st wk Feb
10,288
66,054
58,316 2,323,238 2,106,058
Toledo St L & West 1st wk Feb
Tombigbee Valley.... December..
37,730
7,825
40.059
8,319
Union Pacific Syst_ December.. 7,034,834 1,582,720 17,830.839 42,640,088
r December _ 810,593 743,256 4,955,552 4.592,600
Vendetta
Sc
Sou
West
Virginia
December..
94,384 105,023
616,589
634,071
Wabash
2d wk Feb 547,965 445,210 18,316.053 16,257,139
Western Maryland r November.. 569,810 4)8,716 2,910,554 2,584,051
W Jersey&Seashore. December.. 346,379 326,674 3,367,406 3,066,206
Wheeling & L
December.. 544,111 431,232 3,646,883 3 004,813
White River (Vt)
December..
2,961
2,357
Wrightsville h Tenn December..
26,679
24,778
144,553
167,177
Yazoo & Miss Vail_ January
902,284 942,001 6,285,631 6.271,163
Various Fiscal Years.
Period.
Bellefonte Central
Jan
Delaware & Hudson
Jan
Itanistique
Jan
a Mexican Railway
Jan
a Mexican Soutnern
Jan
e N Y Central h Hudson River_ an
Lake Shore & Michigan South Jan
n Lake Erie & Western
Ian
Chicago Indiana & Southern.. Jan
Michigan Central
Jan
Cleve Gin Chicago & St Louis_ Jan
Peoria & Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
Jan
Rutland
Tan
New York Chicago & St Louis Jan
Total all lines
Tan
Northern Central
Jan
ri Penn-East of Pittsb & Erie.. Jan
a West of Pittsburgh and Erie Jan
Phil(' Baltimore & Washington_ Jan
Jan
Pittsb Cin Chicago & St Louis
Deo
Rio Grande Junction
Jan
Texas & Pacific
Jan
West Jersey & Seashore
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Current
Year.
Previous
Year.
$5,251
Jan 31
35,200
Dec 31 10.525.858 18.459,200
53,892
41.040
Dec 31
Jan 31
629,300
657,300
Dec 31 1,342,772 1,259,770
Dec 31 03,171,860 83,029,354
Deo 31 45,110,097 20,060,041
Dec 31 5,013,990 4,361,158
Deo 31 3,223,313 2.674.190
Dec 31 27,415,467 24,222,139
Dec 31 27,657,741 24,242,617
Deo 31 3,020,856 2,728,154
977,974
Dec 31 1,177,691
Dec 31 14,8 8.948 0,382,621 .
Dec 31 3.102,432 2,755,203
Deo 31 10,076.207 0.221,457
Dec 31 233845542 201550808
Dee 31 12,378,748 11,378,948
Dec. 31 153554471 136296871
Inc.14.0 01,800
Dee 31
Dec 31 17,621.049 16,204,249
Dec 31 30,411.343 26,169,337
Nov 30
033,114
798,735
Feb
7 1,614,":32 1,509,071
Der as 5,765,758 5.338,558
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
WeeklySummaries.
4th
1st
2d
3i1
4th
lit
2d
3(1
4th
1st
week Nov (42 roads)._
week Dee (43 roads)„-week Dec (41 roads)......
week Deo (40 roads)---week Dec (42 roads)._
week Jan (42 roads)......week Jan (43 roads).....
week Jan 144 roads)--week Jan (40 roads) __ __
week Feb (41 roads)._
Cur'n1 Year Prev's Year Inc. or Dec.
S
16,000,874
12,059,588
11.688,160
12,089.781
17,522.287
0.906.861
10,675.438
11.339,770
16,353,280
11.241.397
$
13,971,227
11.032,034
11,142,346
11,258.272
15,948,781
9,159.802
9,503,200
9,900,946
13,732,809
9.780.446
%
$
+2,029,647
+1,027,554
+545,814
+831,509
+1.573,500
+747,050
+1,172,238
+1,438,824
+2,620,471
+1.460.951
20.97
9.31
4.89
7.20
9.83
3.16
12.33
14.53
19.08
14.88
Monthly Summaries.
Cuent Year Prev's Year Inc. cr Dec.
7.
s
$
5
Month April 1009 (895 roads). 197,011,535 175.002,648 +2,003,801 12.5(
month May 1909 (803 roads). 201,623,122 174,475,411 4-27.140.711 15.51
Month Juno 1909 (893 roads). 210,357.226 183,983.82e +20,373.307 1.4.31
Month July 1900 (883 roads). 219,964,739 195,245,655 +.21,710,084 12.61
Month Aug 1909 (883 roads). 236,559,877 206,877,014 +29,682,803 14.3:
Month Sept 1000 (882 roads). 246,065,956 219,013,703 +27,032,253 12.3:
Month Oct 1909 (881 roads). 260,613,053 233.105,043 +27.508,010 11.81
Month Nov 1903 (756 roads). 242,115,779 207,816,16. +31,299,610 16.51
Month Dec 1902 (764 roads). 217,724,450 203,700,142 r 13,925,317 OA:
Month Jan 1010( 50 roads)_ 55.379.765 48.022.938 +7,356,827 15.3i3
a Mexican currency. b Includes earn ngs of Gulf & Chicago Division. c Includes the Houston Sc TCX33 Central and its subs diary lines in both
years. d Covers lines diroctly operated. e Includes the New York & Ottawa, the St. Lawrence & Adirondack and the Ottawa & N. Y. fly., the latter
of which, being a Canadian road, does not make returns to the Inter-State Commerce Commission. I Includes Evansville & Indiana Mt. 0 Includes
the Cleveland Lorain & Wheeling Ry in both years
Il Includes earnings of Colorado h Southern. Fort Worth & Danvcr City and all affiliated lines, excepting Trinity Sc Brazos Valley RR k Includes in both years earnings of Denver Enid & Gulf RR., Pecos Valley- System and Santa 11., Prescott &
Phoenim By. 1 These figures do not Include receipts from sale of coal. n Includes the Northern Ohio RH. o Figures here are on the old basis of accounting-not the new or Inter-State Commerce Commission method. p Includes earnings of Mason City & Ft. Dodge and Wisc. Minn. & Pacific. r These
ngures are on new basis prescribed by Inter-State Commerce Commission. s Includes Louisville & Atlantic train Jul'? 1 1003 and tha Frankfort &
einnatl from Nov. 1 1000.
FEB. 19 1910.]
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 41 roads and shows 14.88%
increase in the aggregate over the same week last year.
Roads.
497
--Nef Marano
-Gross Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
Delaware Lack & West_b
9,491,946 8,967,257 4,674,549 4,351,663
Oct 1 to Dec 31
July 1 to Dec 31
18,487,873 17,226,299 8,925,550 7,931,771
Jan 1 to Dec 31
34,815,009 32,898,495 16,069,501 14,274,840
Increase. Decrease.
Syracuse Bing & N Y_ b
First Week of February.
1910. I 1909.
87,158
134,023
233,290
Oct 1 to Dec 31
258,374
220,159
280.467
July 1 to Dec 31
501,070
$
532,843
$
$
$
392,709
468,720
934,365
Jan 1 to Dec 31
986,694
Alabama Great Southern
15,400
58,442
73,842
11,437
830,121
841,155
Atlanta Birm & Atlantic
43,193
Delaware & Hudson_b_ _Dec 1,758,680 1,564,900
54,630
39,469
Buffalo Rochester & Pittsb____
126,667
19,525,858 18,459,260 8,067,380 7,616,318
Jan 1 to Dec 31
166,136
48,900
119,800
Canadian Northern
168,700
452,016
408,003
Deny & Rio Grande_aDec 1,815,330 1,717,789
Canadian Pacific
1,438,000 1,135,000 303,000
12,370,776 10,958,756 3,789,828 3,444,444
July 1 to Dec 31
11.300
233,100
Central of Georgia
244.400
49,892
Sh
&
Ati_b__Dec
213,229
72,164
So
236,365
Duluth
1,301
1,509
Chattanooga Southern
2,810
396,596
1,719,743 1,383,858
570,560
July1 to Dec 31
88,592
419,207
507,799
Chesapeake & Ohio
982,406
Dec
4,575,497
30,838
3,993,199
1,183,419
219,581
Erie
250,419
Chicago & Alton
26,711
28,447,031 26,068,409 8,331,511 6,839,742
85,255
July 1. to Dec 31
111,966
Chicago Indianap & Louisville_
31,876
143,824
175,700
Cin New On & Texas Pacific__ _
64,841
25,320
56,325
29,951
Fonda Johns & Glov_a_Dec
21,379
289,678
311,057
Colorado & Southern
452,698
208,331
397,382
244,690
July 1 to Dec 31
330,100
82,900
413,000
Denver & Rio Grande
Dec • 282,259
50,222
246,489
88,508
Georgia RR_b
3,124
19,870
22,994
Detroit & Mackinac
1,580,799 1,479,249
270,916
452,758
July 1 to Dec 31
50,015
1,308
51,323
Duluth So Shore & Atlantic
43,438
45,083
1,645 Grand Trunk of CanadaGeorgia Southern & Florida
Grand Trunk of Canada
1
Nov 2,965,158 2,784,124
799,079
756,254
Grand Trunk By
}
729,669
603,530 126,139
Grand Trunk Western
14,812,762 13,689,574 4,213,416 4,157,451
July 1 to Nov 30
I
Detroit Gr Hay & Milw
437,498
99.763.
85,650
Grand Trunk Western _Nov 492,489
J
Canada Atlantic
2,586,068 2,387,296
687,151
602,960
July 1 to Nov 30
141,000
138,000
3,000
International & Great Northern
146,326
Interoceanic of Mexico
123,004
23,322
Milw__Nov
172,761
148,429
49,639
26,280
&
Hay
Gr
Det
58,414
44,944
Iowa Central
13,470
860,397
762.362
217,776
190,280
July 1 to Nov 30
33,000
23,500
9,500
Kansas City Mexico & Orient__
Atlantic
Nov
208,773
175,681
65,698
4
55
9:3
471
7 5
Canada
1,056,215
901,590 154,625
Louisville & Nashville
940,207
850,633
159,621
July 1 to Nov 30
131,672
131,441
Mexican International
231
187,082
181,263
62,909
57,871
14,681
1,262 Gulf & Ship Island_b__ _Dec
15,943
Mineral Range
1,086,713
939,953
338,613
July 1 to Dec 31
230,119
_.
Minneapolis & St Louis
82,065
62,342
19,723
Minn St P & S SM
Hudson & Manhattan_a}
Chicago Division
381,155
320,895
60,260
374.400
128,607
July 1 to Sept 30
133.673 def20,234
Missouri Pacific '
987,000
855,000 132,000
Dec 550,233
442,117
166,635
Hocking Valley_ b
82,637
Mobile do Ohio
205,279
202,657
2,622
3,904,224 3,458,169 1,533,976 1,215,362
July 1 to Dec 31
National Railways of Mexico
27,640
919,076
946,716
Dec
5,309,868
5,211,186
1,134,257
1,582,371
Central_a
Illinois
Nevada-Cal-Oregon
6,136
654
5,482
31,059,645 29,242,829 6,116,965 8,458,294
July 1 to Dec 31
Rio Grande Southern
12,507
7,813
4,694
St Louis Southwestern
224,838
209,441
15,397
566,435
254,212
213,329
g Interoceantc of Mex___Dec 044.767
Southern Railway
1,134,978 1,019,441 115,537
3,428,257 3,139,512 1.146.246
980,637
July 1 to Dec 31
1,387
Texas Central
20,216
21,603
267,027
262,635
1142,734
847,413
Dec
Iowa
Central_a
Texas & Pacific
290,820
262,262
28,558
h416,116 1;314,713
1,743,477 1,535,094
July 1 to Dec 31
Toledo Peoria & Western
4,256
20,544
16,288
156,097
32,844 def11,173
Kanawha & Michigan_a Dec 201,486
Toledo St Louis 6; Western
66,954
58,316
8,638
410,023
248,288
1,386,642 1,200,114
Wabash
July 1 to Dec 31
466,592
99,368
565,960
734,550
280.561
291,275
City Southern_ b_Dec 801,949
55,256 Kansas
Total (41 roads)
11,241,397 9,780,446 1,516,207
4,668,746 4,482,637 1,633,842 1,762,316
July 1 to Dec 31
Net increase (14.88%)
1,460,951
Inc 95,239
Inc 90.840
Dec
Long Island
Inc 894,544
Inc 1,079,826
Jan 1 to Dec 31
33,771
102,468
41,577
Dec 102,266
Louisiana
&
Ark-b
Net Earnings Monthly to Latest Dates.-In our "Railway
142,833
570,062
241,628
639,054
July 1 to Dec 31
Earnings" Section, which accompanies to-day's issue of the Manistique b
def3,96.5
1,021
3,148
3,907
Nov
50,700
def4,092
def1,381
37,985
Jan 1 to Nov 30
"Chronicle" as a special Supplement, we print the December
308,000
381,500
608,500
Dec 701,900
Mexican Railway
returns of earnings and expenses (or in the absence of the
3,901,900 3,444,500 1,798,100 1,350,200
July 1 to Dec 31
December figures those for the latest previous month) of
9,253
7,968
33,682
29,622
Maryland & Penna_a___Nov
every steam-operating railroad in the United States which is
55,121
170.265
62.855
182,675
July 1 to Nov 30
obliged to make monthly statements to the Inter-State g Mexican Internat
320,827
228,324
546,980
Dec 770,1E3
4,178,310 3,370,541 1,823,134 1,337,058
,
July 1 to Dec 31
Commerce Commission at Washington.
11,327
10,416
69.791 St 65.344
Rang.b_ ______ Dec
The Inter-State Commission returns are all on a uniform Mineral
87,940
439,286
427,847
72,634
July 1 to Dec 31
basis, both as to revenues and expenditures, and possess Minneap & St Louts_a__Dec 347,215 368,927
k51,192 k112,175
special utility by reason of that fact. In a number of in2,665,952 2,277,989
July 1 to Dec 31
k869,084
k791,000
930,472 p1373,088
299.442
stances these figures differ from those contained in the Minn St P & S S M_a__ _Dec 1,044,496
Dec
31
8,592,204
7,038.800
to
4,031.291
July
1
2,902,036
monthly statements given out by the companies themselves,
571,215
Division_a_ Dc 573,855
70,113
Chicago
120,544
in
for publication, and in which the accounts are prepared,
4,277,460 3,911,334 1 283,416 1,210,962
July 1 to Dec 31
accordance with old methods of grouping and classification Mississippi Central_a___Dec
59,077
30,441
77,485
19,713
332,666
172,011
434,338
114,366
July 1 to Dec 31
pursued in many instances for years. We bring together
2,208,876
643,682
2,298,254
638,661
Tex_b__Dec
Kan
&
Missouri
here (1) all the roads where there is a substantial difference
14,156,840 13,792,369 4,956,775 4,488,905
July 1 to Dec 31
between the two sets of figures, so that those persons who
Dec 4,248,735 4,125,296 1,159,748 1,154,869
Pacille_b
for any reason may desire to turn to the company statements Missouri
27,070,089 24,061,106 8,709,162 7,544,406
July 1 to Dec 31
will find them readily available. We also give (2) the re- 0 National Rys of Mex__Dec 4,351,639 4,192,159 1,667,864 1,720,899
24,093,353 22,805,035 8,954,376 8,433,922
July 1 to Dec 31
turns of such roads (even where the figures correspond ex31,990
14,512
18,154
31,591
actly with those in the Inter-State Commerce reports) which Nevada-Cal-Oregon_b__ Dec 265,052
149,715
118,037
203,642
July 1 to Dec 31
go beyond the requirements of the Commission and publish Nevada
6,164
6,352
1,007
2,123
Dec
Central_b
their fixed charges in addition to earnings and expenses, or
41,589
13,267
39,052
3,339
July 1 to Dec 31
(3) which have a fiscal year different from that of the Inter- New On Gt Northern_b_Dec 124,036
54,630
43,067
8,206
672.185
273.320
230,152
41,694
July 1 to Dec 31
State Commerce Commission in which latter case we insert,
cN Y Central ec Hud R b Dec 8,012,453 7,271,376 2,291,794 1,801,446
the road so as to show the results for the company's own
93,171,860 83,927,354 28,578,034 22,638,050
Jan 1 to Dec 31
year. We likewise include (4) the few roads which operate
L Shore & Mich So_b_Dec 3,979,469 3,531,308 1,356,238 1,368,087
45,110,997 39,066,941 17,087,336 13,860,437
Jan
1
to
Dec
31
entirely within State boundaries, and therefore do not report
383,743
161,288
80,717
eL Erie & Western_b_Dec 495,209
to the Federal Commission, and (5) Mexican and Canadian
700,764
Jan 1 to Dec 31
5,043,990 4,361,158 1,183,547
companies. We add (6) the roads which have issued their
263,201
104,608
98,178
Chic Ind & South_b__Dec 325,935
owns statements for December, but have not yet filed any
Jan 1 to Dec 31
3,223,313 2,674,190
795,238
568,351
returns for that month with the Commission. Finally (7)
667,489
627,068
Michigan Central_bDec 2,345,051 2,099,350
Jan 1 to Dec 31
27,415,467 24,222,139 8,915,939 7,438,371
we give the figures of any roads that have already submitted
Cleve Cin Ch & St
559,947
366,451
b_Dec 2,438,616 2,253,288
their January statement.
Jan 1 to Dec 31
27,657,741 24,242,617 7,946,246 5,909,166
-Gross Earnings- -Net Earnings
Peoria & Eastern_ b_ _ _Dec 283,412
250,396
85,145
70,157
Previous
Current
Previous
Jan 1 to Dec 31
896,713
732,500
3,026,856 2,728,154
Current
Year.
Year.
Year.Year.
95,897
85,675
29,812
def2,118
Dec
Ono Northern_b
Roads.
$
$
$
977,974
278,578
1,177,691
Jan 1 to Dec 31
127,821
Ala Tenn & Northern___Dec
3,526
5,473
6,135
8,083
Dec 1.379,792
925,055
732,536
405.912
Pitts & L Erie_b
July Ito Dec 31
18,083
21,710
31,932
39,420
14,838,948 10,382.621 8,419.743 5,009,953
Jan 1 to Dec 31
Atch Topeka & S Fe_ b__Dec 8,389,776 8,168,079 52,364,410 53,513,730
240,700
212,100
56,960
Dec
37,467
Rutland_b
July 1 to Dec 31
52,897,541 47,283,005 519,317,669 518,337,405
900,587
3,102,4.32 2,755,203
773,436
Jan 1 to Dec 31
Baltimore & Ohlo_b___Dec 6,836,787 6,205,632 1,883,757 1,999,041
873,354
369,240
Dec 958,334
_
_
352,854
St
Lb
Chic
&
Y.
N.
July 1 to Dec 31
44,070,620 39,147,007 14,885,389 14,176,593
10,076,207 9,221,457 3,356,833 2,746,079
Jan 1 to Dec 31
Bangor & Aroostook_b_Dec
220,437
76,500
60,836
215,871
Dec20,554,868 18,148.846 6,415,057 5,206,219
Total all lines_ b
July 1 to Dec 31
1,415,670 1,396,382
469,907
551,646
233845,502 204,559808 78,358,794 60,504.928
Jan 1 to Dec 31
Bellefonte Central_ b____Jan
5,251
5,290
def545
735 N Y Ont & Western_a_ _Dec 636,951
634,963
176,512
138,848
3,635
4,449,260 4,340,200 1,361,440 1,360,379
Bridgeton & Saco Riv_b_Dee
3,323
782
1,088
July 1 to Dec 31
26,239
26,778
8,497
July 1 to Dec 31
8,787 N V Susq & West_a____Dec 310,420
284,617
102,325
90,372
Dec 1,160,300
1,746,599 1,581,913
927,900
486,743
334,400
285.100
Canadian Northern
468,658
July 1 to Dec 31
6,789,400 5,635,100 2,108,000 1,757,900
July 1 to Dec 31
896,980
Norfolk & Western_b__ _Dec 2,786,559 2,376,979 1,081,281
Dec 8,214,758 6,955,874 3,115,424 2,196,752
17,329,917 14,700,576 7,198,386 5,907,418
Canadian Pacific-a
July 1 to eDe 31
49,925,511 40,711,657 20,069,877 14,041,178
July 1 to Dec 31
969,540
297,198
Northern Central_b__ __Dec 1,148,240
193.198
2,799,926
12,378,748 11,378,948 2,797,337 2,663,737
Jer_b_Dec
2,135,883
1,551,769
869,931
Central of New
Jan 1 to Dec 31
14,432,471 13,079,915 6,834,549 5,676,584
1.11lJuly 1 to Dec 31
608,000
Dec
488,795
91,260
69,090
Pacific Coast
943,570
4,276,797 3,366,604
185,266
956,701
531.634
172,493
July 1 to Dec 31
Chicago Gt Western_b__Dec 887,517
4,047,067 4,001,684 1,262.501
860,299 Pennsylvania-Lines directly operated.
alfaSept 1 to Dec 31
195,318
15,913
East of Pitts & Eric_b Dec13,877,317 12,266,417 4,237,779 3,277,179
40,459
Colorado Midiand_a___ _Dec 184,850
1,307,579 1,229,782
257,305
153,564,471136,296,871 46,420,281 315,876,781
Jan 1 to Dec 31
281,471
11111,July 1 to Dec 31
Inc
ne 14
1:09
Inc 5,0142 357,700
04111:8100
of Pitts & Erie_ _Dec
1,409,608
West
1,421,575
553,517
489,816
Southern_b_Dec
Colorado &
31
Inc
Dec
Jan 1 to
8,657,512 8,088,655 3,385,373 2,921,120
July 1 to Dec 31
Jan
1,146,294
212,935
1,096,667
250,643
59,424
Marquette_b
67,054
Pere
30,660
16,099
Nov
Copper Rangc-b
9,413,438 8,322,956 2,925,274 2,489,155
354,121
174,238
July 1 to Jan 31
341,152
93,178
July 1 to Nov 30
811,608
174,349
673,664
95,020
74,205 Pitts Cin Chic & St L _a_ _Dec 2,774,370 2,221,904
Dec 211,583
Cuba RR
30,411,343 26,169,337 8,411.454 7,256.192
847,610
347,104
1,019,266
322,634 Lai Jan 1 to Dec 31
zigtruly 1 to Dec 31
498
THE CHRONICLE
-Gross Earnings- -Net Earnings
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
Phila Balto & Wash_b_ _Dec 1,480,203 1,414,003
423.350
380.250
:v9, Jan 1 to Dec 31
17,621,049 16,204,249 4,761,921 4,119,121
Reading Company•
Phila & Reading_ b__Dec 3,936,286 3,744,102 1,617,938 1,578, 263
July 1 to Dec 31
22,280,517 20,297,432 8,747,347 8,183,133
Dec 3,497,748 3,471,324
Coal & Iron Co_ b
233,915
306,666
July 1 to Dec 31
15,889,783 17,233,128
506,270 1,062,593
Total both cos_b
Dec 7,434,034 7,215,426 1,851,353 1,884,929
July 1 to Dec 31
38,170,302 37,530,559 9,253,618 9,245,726
Reading Company_ __ _Deo
130,925
145,533
July 1 to Dec 31
884,924
767,197
Total of all cos
Dec
1,996,886 2,015,859
July 1 to Dec 31
10,138,542 10,012,923
Rio Grande Junction_ _ _Nov
110,902
79,097
n33,270
n23,729
Dec 1 to N.,v 30
798,735
989,114
n296,734 n239,621
Rio Grande Southern_ b_Dec
44,891
52,855
11,681
21,609
July 1 to Dec 31
252,856
322,007
74,050
135,119
Rock Island_ b
Dec 5,079,706 5,435,045 1,008,987 1,601,704
July 1 to Dec 31
34,730,741 31,878,360 11,080,061 9,772,545
St Jos &Grand Isl_b__ __Noy
137,839
131,946
20,498
41,797
July 1 to Nov 30
753,747
736,099
192,269
285,799
St Louis & San Fr_ b_ __Dec 3,510,997 3,399,329
992,431 1,113,402
July 1 to Dec 31
21,631,164 19,504,979 6,412,115 5,963,259
Chic & East Ill_b_Dec 1,046,620
980,821
315,634
294,458
July 1 to Dec 31
6,018,725 5,357,950 2,122,062 1,598,097
Evansv & Terre H'te b Dec 201,624
177,616
66,504
57,095
July 1 to Dec 31
1,287,622 1,129,569
536,359
419,842
Total of all lines_ b__ _Dec 4,759,242 4,55/,766 1,374,569 1,464,955
July 1 to Dec 31
29,937,512 25,991,998 9,070,536 7,981,193
St L Rocky Mt & Pac_a_Dec 178,218
64,263
July 1 to Dec 31
907,098
301,031
St Louis Southw_a
Dec 936,621 1,008,994
222,937
262,077
July 1 to Dec 31
5,793,231 5,530,815 1,719,351 1,426 402
Southern Paciflc_a
Dec 11,316,036 10,592,952 3,731,493 3,805,684
July 1 to Dec 31
89,951,983 62,781,148 27,218,988 22,926,483
Texas Central_a
Dec
106,874
132,864
42,714
53,539
July 1 to Dec 31
555,043
656,978
153,487
228,549
xTexas & Pacific_ b
Dec 1,655,169 1,636,053
671,209
782,763
Jan 1 to Dec 31
14,960,653 13,917,313 4,052,333 3,642,338
Toledo & Ohio Cent_a_ _Deo 351,311
275,560
83,581
34,884
July 1 to Dec 31
2,272,575 2,473,168
737,357
864,961
Toledo Peoria & West_b_Dec 103,760
92,194
21,973
18,800
January
104,769
85,940
26,637
8,682
July 1 to Jan 31
701,829
666,109
180,273
147,375
Tombigbee Valley
7,825
Dec
8,319
3,375
3,047
July 1 to Dec 31
40,659
37,739
14,337
13,565
Union Pacifica
Dec 7,034,834 6,582,720 2,984,265 3,199,743
July 1 to Dec 31
47,850,839 42,640,088 23,827,406 22,087,307
West Jersey & Seash_ b_ Dec 346,374
326,679
9,311
53,811
5,765,758 5,338,558 1,973,816 1,216,116
Jan 1 to Dec 31
Yazoo & Miss Valley_a_ _Dee 1,066,038 1.166,229
339,745
414,892
July 1 to Dec 31
5,383,347 5,329,162
810,985
661,390
INDUSTRIAL COMPANIES.
-Gross Earnings
--NetEarnings
Current
Previous
Current
Previous
Year.
Companies.
• Year.
Year.
Year.
Roads.
Oklahoma Gas & El Co_ _ Dec
July 1 to Dec 31
San Diego Cons Gas & El_Dec
Apr 1 to Dec 31
100,202
347,760
48,701
314,867
51,318
222,125
39,137
274,455
90,038
134,412
. 29,368
178,862
22,083
95,917
25,596
170,190
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
c Includes the New York & Ottawa, the St. Lawrence & Adirondack and
the Ottawa & New York By., the latter of which, being a Canadian road;
does not make returns to the Inter-State Commerce Commission.
e Includes the Northern Ohio RR.
f Includes the Cleveland Lorain & Wheeling Ry. in both years.
g These results are in Mexican currency.
h For Dec. 1909 additional income is given as showing a deficit of $7,968,
against a deficit of $10,059 in 1908. and for period from July 1 to Dec. 31
was a deficit of $15,433 in 1909, against a deficit of $48,377 last year.
j The company now includes the earnings of the Denver Enid & Gulf RR.,
Pecos Valley system and Santa Fe Prescutt & Phoenix Ry. in both years.
For December taxes amounted to $337,883, against $66,788 in 1908;
after deducting which, net for December 1909 was $2,026,527, against
$3,446,942 last year. For period from July 1 to Dec. 31 taxes and rentals
were $1,836,472 in 1909, against $1,344,926 in 1908.
k For December 1909 additional income showed a deficit of $1,084,
against a credit of $22,430 in 1908, and for period from July 1 to Dec. 31
was $68,703 in 1909, against $89,020 last year.
n These figures represent 30% of gross earnings
Interest Charges and Surplus.
-Int., Rentals, &c.
- -Bal. of Net E'ngs.Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
Bangor & Aroostook____Dec
84,572
82,438
x9,002 zdef13,877
July 1 to Dec 31
501,225
493,371
x142,283
x33,422
Bellefonte Central
Jan
236
243
def781
492
Bridgeton & Saco River Dec
593
637
497
145
3,646
WI July 1 to Dec 31
3,741
9,851
5,046
552,852
Central of New Jersey_ _Dec
384,857
998,917
485,074
July 1 to Dec 31
2,889,189 2,946,858 3,945,360 2,729,726
Chicago Great Western_ _Dec 203,666
285,735 zdef17,855zdef108,369
Sept 1 to Dec 31
837,169 1,170,008
x434,490zdef298,481
Colorado Midland
Dec
31,350 edef19,533
31,350
el0,360
188,100
July 1 to Dec 31
188,100
edef175
e49,019
Colorado & Southern.-_Dec 247,021
251,767
c308,651
c259,161
July 1 to Dec 31
1,521,681 1,547,821 c2,013,812 c1,567,280
11,937
13,213
Copper Range
17,447
Nov
9.162
July 1 to Nov 30
112,001
59,688
62,237
33,490
Cuba RR
32,503
36,666
58,359
Dec
41,702
July 1 to Dec 31
194,274
131,894
215,210
128,360
Delaware Lack & WesternOct 1 to Dec 31
6,295,678 5,179,699 x2,474,871 z1,438,717
July 1 to Dec 31
8,681,744 7,483,700 x5,720,632 x3,354,935
Jan 1 to Dec 31
13,351,866 13,343,866x11,556,227 z6,750,691
Syracuse Bing & N YOct 1 to Dec 31
89,238
z79,653
135,368
x62,339
July 1 to Dec 31
x249,719
124,706
x252,108
164,671
Jan 1 to Dec 31
281,316
247.870 z989,728
x969,036
Denver & Rio Grande.__Dec 464,206
d87,485
358,111
d134,733
July 1 to Dec 31
2,632,656 1,999,015 d1,878,769 d1,815,123
Duluth So Sh & AtlDec 101,134
zdef31,412
101,243
zdef45,829
July 1 to Dec 31
580,863
x19,511zdef106,638
542,943
Dec
61,910
Georgia RR
93,304
x38,835 zdef33,873
363,453
July 1 to Dec 31
368,896 x150,085 zdef40,417
Dec
36,276
Gulf & Ship Island
40,666
z22,650
x22,675
219,282
July 1 to Dec 31
229,885 x125,492
x3,952
Hudson & Manhattan344,942
July 1 to Sept 30
159,021 zdef17,513 zdef60,010
Roads.
[VoL. Lxxxx.
-Int., Rentals, &c.- -Bal. of Net E'ngs.Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
$
Hocking Valley
Dec
115,109
118,980
x319,764
x373.639
July 1 to Dec 31
713,199
714,383 x1,417,917 x1,171,668
Kanawha & Michigan__ _Dec
26,711
z27,013 zdef20,789
22,733
July 1 to Dec 31
159,642
x159,347
139,322 x322,062
Louisiana & Arkansas_ _ _Dec
25,899
x19,206
34,889
x24,849
July 1 to Dec 31
150,377
x142,868
129,873
x57,73
Maryland & Penna.
Dov
3,979
3,979
3,989,
5,294
July 1 to Nov 30
19,793
19,793
35,328
42,862
Mineral Range
Dec
19,220
15,987 xdef7,860 zdef5,548
July 1 to Dec 31
85,237
81,959 zdef11,038
x8,014
Missouri Kansas & Tex_Dec 576,967
573,206
x80,278
x71,399
July 1 to Dec 31
3,311,423 3,446,840 x1,700,819 x1,077,609,
Nevada-Cal-Oregon
Dec
3,616
3,983
x15,278
x12,733
July 1 to Dec 31
21,697
23,901 z134,817 x100,776
New On Great Northern.Dec
47,993
32,546
x7,436
x43
July 1 to Dec 31
282,251
x48,220 defx34,199
134,115
N Y Ontario & Western_Dec
92,185
84,327
91,843
47,005
July 1 to Dec 31
571,457
805,019,
555,360
789,983
Norfolk & Western
Dec 470,127
465,887
611,159
431,093
July 1 to Dec 31
2,796,315 2,614,427 9,402,071 3,292,991
Pere Marquette
Jan
367,325
356,295xdef147,552 zdef95,549
July 1 to Jan 31
2,517,019 2,504,742
x453,570
x150,897
Reading Company
Dec 880.000
873,542 1,116,886 1,142,312
July 1 to Dec 31
5,280,000 5,241,250 4.858.542 4,771,673
Rio Grande Junction___Nov
8,333
8,333
24,937
15,396
Dec 1 to Nov 30
100,000
100,000
139,621
196,739
Rio Grande Southern___Dec
19,791
20,057 xdef17,475
z2,318
July 1 to Dec 31
116,086 zdef33,311
x25,697
114,244
St. L Rocky Mt & Pac_ _Dec
33,269
30,994
July 1 to Dec 31
200,844
100,187
St Louis Southwestern_ _Dec
173,393
168,717 x109,999 x131,996
July 1 to Dec 31
1,037,560 1,007,923
x954,238
x648,520
Texas Central
Dec
6,629
47,491
36,085
6,043
July 1 to Deo 31
34,055
31,297
119,432
197,252
Toledo & Ohio Central__Dec
3 .425
39,94.3
x56,930
x7,509
July 1 to Dec 31
240,404
241,019
x585,715 x659.505
Toledo Peoria & West_ _ Dec
25.035 xdef1,825 zdef3,706
24,641
January
25,788
23,158
z1,848 zdef11,587
July 1 to Jan 31
170,076
163,762
x21,833 xdef2,853
INDUSTRIAL COMPANIES.
-Int., Rentals, &c.- -Bal. of Net E'ngs.Current
Previous
Current
Previous
Companies.
Year.
Year.
Year.
Year.
Roads.
Oklahoma Gas & El Co_ _Dec
July 1 to Dec 31
San Diego Cons Gas & ELDec
Apr 1 to Dec 31
6,682
39,900
7,417
67,040
33,356
96,512
21,951
111,822
6,419
38,700
7,020
63,355
15,664
57,214
18,576
106,835
c After allowing for net miscellaneous credit to income.
d These figures are after allowing for other income and for discount and
exchange. The sum of $10,000 is deducted every month from surplus and
placed to the credit of the renewal fund.
e After allowing for miscellaneous charges and credits to income.
x After allowing for other income received.
ELECTRIC RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Current
Year.
Jan. 1 to latest date.
Previous
Year.
Current
Previous
Year.
Year.
---$
481,001 4,750,809 4,468,295
237,530 2,937,491 2,798,080
109,578 1,535.959 1,398,930
26,293
27,180
26,293
2,286,369 2,167,546
130,786
7,962
122,265
10,793
108,222
122,119
21,766
247,546
240,709
14,795
14,795
18,059
57,325
57,325
62,087
67,995
757,457
768,758
974,365 12,368,121 10,904,484
321,172
32,763
305,739
106,830 1,320,122 1,169,968
758,934
124,007
651,118
896,346
76,835
810,836
172,276 2,035,790 2,009,515
600,958
55,194
534,222
36,808
472,251
416,882
Amer Cities By & Lt_ October __ 524,706
American Rys Co_ _ _ _ December
252,178
cAur Elgin & Chic Ry December.. 117,202
Binghamton St Ry__ January _ _
27,180
firm By Lt & Power December
Brockton & Ply St By December..
8,001
Camaguey Co
November_
11,331
Cape Breton Elec Co_ December.. 24,308
Carolina Pow & Lt Co January _ _
18,059
Central Penn Trac__ _ January _ _
62,087
Chariest Con By G&E December _
69,532
Chicago Railways Co. December.. 1069,705
Cleve Painesv & East December _
23,599
Dallas Electric Corp_ December.. 119,766
Detroit United Ry_ 1st wk Feb 142,553
85,509
Duluth-Super Tr Co_ November_
East St Louis & Sub_ December.. 185‘225
El Paso Electric___ _ December.. 59,667
42,261
Fair & Clarksb Tr Co_ December _
Ft Wayne & Wabash
Valley Traction Co. December.. 129,720 118,835 1,414,526 1,322,720
Galv-Hous Elec Co- _ December.. 100,867 96,998 1,206,543 1,088,447
940,645
Grand Rapids By Co_ December.. 90,143 81,854 1,029,011
231,738
221,379
Havana Electric Ry_ Wk Feb 13 39,132 37,360
Honolulu Rapid Tran
413,025
382,130
December.. 36,070 33,293
& Land Co
319,966
24,833
265,576
Houghton Co Tree Co December.. 26,083
Illinois Traction Co_ _ October _ _ 457,995 406,172 3,885,844 3,605,602
486,778
38,965
430,838
Jacksonville Elec Co_ December.. 49,011
357,797
339,764
27,509 28,439
Kansas City-Western. December_
89,062 80,286 1,109,083 1,035,650
Lake Shore Elec Ry_ December _
Milw El By & Lt Co.. December _ 395,753 359,804 4,267,539 3,898,539
927,625
852,727
70,673 62,255
Milw Lt Ht & Tr Co.. December _
954,407
413,657
Montreal Street Ry_ _ Wk Feb 12 72,590 71,505
Nashville By & Light December.. 159,217 149,083 1,724,380 1,597,030
North Ohio Trim& Lt December.. 182,912 160,454 2,177,642 1,890,473
97,448 1,259,551 1,080,577
North Texas Elec Co_ December.. 108,483
173,291
182,683
Northwest Elev Co_ _ January _ _ 182,683 1 73,291
Norf & Porten' Tr Co November_ 155,756 d156,732 d1,748,495 d1,708,761
20,751
226,614
227,344
Paducah 'Frac& Lt Co December..
209,183
246,664
0,
8
410
84 18,705
Pensacola Electric Co December.. 20
Portl(Ore)Ry L&PCo December.. 432,666 385,797 9,818,022 4,351,676
Rio de Janeiro Tram
Light & Power_ _ _ _ December.. 642,302 618,850 7,527,560 7,138,234
St Joseph (Mo) By Lt
79,435
89,307
89,307 79,435
Heat & Power Co January _ _
Sao Paulo Tr Lt & P_ December _ 225,636 204,705 2,428,117 2,263,844
595,819
603,813
54,001
Savannah Electric Co December.. 50,288
Seattle Electric Co_ _ December.. 481,893 415,079 5,854,175 4,520,489
11,857
13,127
11,857
Sou Wisconsin By Co January _ _
13,127
552,574
596,303
Tampa Electric Co_ _ December.. 56,389 50,063
Toledo Rys & Light_ December _ 263,400 235,974 2,730,396 2,538,633
298,612
65,844
263,514
Toronto Railways_ _ _ Wk Jan 29 76,141
711,697
641,905
Twin City Rap Tram. 1st wk Feb 134,051 121,153
Underground El By
of London141,095
£39,640
Three tube lines_ _ _ Wk Jan 22 £13,650 113,040
£32,561
£9,040
Metropolitan Dist_ Wk Jan 22 £10,832
£29,889
117,105
United Tramways_ Wk Jan 22 0,157 14,022
£16,243
885,782
United Rys of St L_ _ January __ 885,782 829,036
829,036
United lilts of San Fr December.. 645,847 603,403 7,455,965 6,866,304
406,867
Whatcom Co By & Lt December.
362,252
39,149 37,353
c These figures are tor consolidated company.
the Norfolk County Ferries.
d Includes earnings of
FEB. 19 1910.
499
THE CHRONICLE
BALANCE SHEET DECEMBER 81.
1908
1909.
1900.
1908.
AssetsLiabilities$
Cost of road,eq..&c.32,331,208 32,265.153 Preferred stock_ _ _ 9,000,000 9,000,000
Pref.stock in treas. 292.100
292,100 Common stock_-_ 7,500,000 7,500,000
Com.stock in treas.
35,900 1st M. bonds (4%)10,000.000 10,000,000
Ext.M.bdsin treas. 967,000
983,000 Ext. M. bds.(4%) 5,000,000 5,000.000
Un. Cons. El. bds_
Coll, trust notes__ 300,000
400,000
41,400
110,618
Cash
249,283
156,190 Pay-rolls,accts.,&c. 134,989
52,321 Coups.not pres.,&c.
6,861
Materials & supplies 75,220
6.880
96,921
80,320
62,020 Interest due Jan. 1
80,660
- Accts. receivable_ _
--Gross Earnings- -NetEarnings
Prepaid Insurance_
11,825
171,650
21,390 Int. accr'd, not due 170,478
Previous
Current
Current
Previous
Advances, Union
8,750
Rents acc., not due
8,750
Year.
Roads,
Year.
Year.
Year.
Consol. El. RR_
27;385
53,720 Taxes acc., not due 101,873
101,878
20,075
15,232 Deprec'n reserve__ 264,065
Unadjusted accts_
275,248
Binghamton St Ry_b-Balance, surplus_ _.1,580,624 1,281,706
33,641
Oct 1 to Dec 31
33,871
81,626
77,916
71,241
July 1 to Dec 31
79,507
169,118
179,902
33,937,026
34,148,319
34.148,319 33,937,028
Total
Total
11,878
January
10,456
26,293
27,180
-Brooklyn Rapid Transit_a*After charging off $50,000 for depreciation and losses.-V.90, p. 236, 54.
July 1 to Sent 30
5.773,539 5,165,990 2,207,380 1,851.519
13,352
Central Penna Tr Co.... _Jan
Interborough Rapid Transit Company.
13,793
57,325
62,087
292,309
320,912
Chicago Rys Co-a
974,365
Dec 1,069,705
(Earnings for Years ending Dec. 31.)
12,368,121 10.904,484 4,125,736
Jan 1 to Dec 31
1909.
1908.
1908.
1909.
6,331
7,038
14,795
18,059
Carolina Pow & Lt Co-_,Tan
$
12,534
150,520
78,280
201,227
Feb 1 to Jan 31
Oper. revenue_ _ _27,963,377 25,447,340 Gross income-16,248,677 13,896,978
54,097 Oper. expenses_ _10,759,738 10,869,547 Interest, rentals,
56,693
118,835
129,720
Ft Wayne 46 Wabash V b Deo
585.586
592,803
1,414,526 1,322,720
Jan 1 to Dec 31
&c. (Incl. ManNet oper. rev_ _17,203,639 14,577,793
13,085
34,966
18,358
32,279
hattan guar.)._10,468,035 10,208,531
Honolulu Rap Tr&LtCobNov
15,879 Taxes
18,202
1.692,651 1,715,177
33,293
36,070
December
170,154
205,115
413,025
382,130
Net income__ 5,780,642 3,688,447
Jan 1 to Dec 31
Oper. Income_ _15,510,988 12,862,616 Dividends (9%)__ 3,150,000 3.150,000
Metropolitan St Rya737,689 1,034,362
3,743,739 3,609,953 1,004,392 def107.831 Other Income_ _ _ _
July 1 to Sept 30
Balance,surplus 2,630,642
538,447
Schenectady Ry-bP. c. exp. to earns. 38.48
42.71
61,961
270,108
102,647
217,805
Oct 1 to Dec 31
Gross Income_ _16,248,677 13,896,978 Passengers car'd 543,172,774494,848,348
157,119
566,271
238,793
482,077
July 1 to Dec 31
The
company
states
that, to make a satisfactory comparison, the results
252,935 for
997,850
889,834
379,732
Jan 1 to Dec 31
the period prior to July 1 1909 are stated as nearly as possible in accordThird Avenue RR _aance with the rules of the "uniform system" of accounting, which became
2407,329 1,864,956
July 1 to Sept 30
537,957 effective July 1 1909. "The decrease in other income is largely due to the
867,112
United Rys of St Louis_ _Jan
284.284 policy, inaugurated July 1 1909, of not crediting to the income of the com885,782
829,036
289,638
einterfstuA the advances made for laconstruction of the New
orTLongslanrrunnelF
anK
Utica & Mohawk Valley_bp. 1601.
Oct 1 to Dec 31
295,517
104,209
289,524
121,989
July 1 to Dec 31
624,041
235,460
580,124
255,658
Du Pont de Nemours Powder Co.
Jan 1 to Dec 31
1,193,806 1,089,342
436,776
467,102
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. 29 1910. The
next will appear in the issue of Feb. 26 1910.
.11M
k
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Interest Charges and Surplus.
-Int., Rentals, &c.
- -Bat. of Net E'ngs.Previous
Previous
Current
Current
Year.
Year.
Year,
Year.
Roads.
Binghamton St flyOct 1 to Dec 31
26,865
July 1 to Dec 31
53,993
January
8,921
Brooklyn Rapid TransitJuly 1 to Sept 30
1.560,239
Honolulu Rap Tr&L Co_Nov
6,378
December
6,358
Jan 1 to Dec 31
74,871
Metropolitan St flyJuly 1 to Sept 30
673,778
Schenectady flyOct 1 to Dec 31
37,254
July I to Dec 31
73,851
Jan 1 to Dec 31
142,591
Third Avenue RRJuly 1 to Sept 30
206,939
United Rys of St Louis_ _Jan
233,787
Utica & Mohawk ValleyOct 1 to Dec 31
74,300
July 1 to Dec 31
149,011
Jan 1 to Dec 31
295,873
27,081
53,210
8,904
x8,228
z27,248
1,535
x7,350
x19,225
2,974
1,323,312
7,290
5,371
72,727
x766;648
z12,666
x12,423
x137,881
x618,088
x6,459
x11,117
x105,224
549,632
x378,765xdcf808,077
32,218
67,889
128,027
x68,350
x171,298
x254,655
x34,036
x97,707
x140,868
208,160
235,568
x660,795
55,851
x330,250
48.716
52,440
105,623
209,829
x48,266
z108,234
1174,027
z53,870
x134,758
x239,370
After allowing for other income received.
ANNUAL REPORTS.
Metropolitan West Side Elevated RR.; Chicago.
(Report for Fiscal Year ending Dec. 311909.)
Howard J. Hetzler, the outgoing President, reports:
Increase in Business.-The traffic increased materially during the last
year. The passengers handled during the month of December exceeded
all previous records.
Maintenance and Additions.-Twelve thousand track ties and 3,000
guard rails were used during the year and 6 M miles of the structure were
painted. New stations have been built at Hannah St., Lombard Ave.,
-Austin Ave. and Home Ave. on the Garfield Park branch. Additions have
been made to five stations on the Garfield Park and Douglas Park branches.
Financial.-During the year deductions from income were made as follows: Collateral loan was reduced from $400,000 to $300,000, and in addition nearly $100,000 expended for cost of road and property. These latter
expenditures include the cost of track elevation on the Douglas Park branch,
the purchase of property on Congress St. for division offices, additions
and changes to stations, equipment and safety appliances.
[Mr. Hetzler stated after the meeting that the management does not contemplate the sale of extension mortgage bonds at this time.]
FISCAL RESULTS FOR YEARS ENDING DEC. 31.
Operations1909.1908
1900.
1907.
Whole No. pass. carried 52,510,609 51.587,667 54,280,888 49,771,812
Daily 'average
143,889
136,361
140,950
148,715
Earnings$
$
$
$
Passenger earnings
2,695,230
2,643,635
2,545,136
2,778,597
Advertising & miscell_ _
123,200
103,205
92,765
99,992
2,818,430
Gross earnings
Operating Expenses134,350
Malnt. of way & struct_
165,172
Maint. of equipment_ _ _
312.706
Maint.of oper.pow.Plant.
605,095
Conducting transport'n_
103,348
General
97,404
Loop oper. & maint_ _
2,746,840
155,625
134,159
329,637
585,514
101,301
104,565
3
162,38995,514
573,018
88,740
107,627
1,174,694
1,418,076
1,400,354
11,159
1,410,801
1,336,039
10,126
1,443,499
1,435,090
6,819
1,290,359
1,347,542
16,665
Total available inc_ 1,411,514
Deduct290,674
Rentals
180,893
Taxes, car licenses, &c.
582,029
Interest
Preferred dividends_ _ _ -•(3)261,237
1.346,165
1,441,909
1,364,207
294,995
209,043
107,736
176,390
592,019
574,691
(230195.928
270,360
158,128
556,449
Total operating exp
Net earnings
Add int. on bal.,
2,878,589
.2,037,001
116,2111
115,665
1,084,750
Total
1,323,833
1,246,052
984,937
Surplus
261,415
87,880
105,857
379,270
• This is tho 3% annual dividend declared in Jan. last, payable in quarterly installments of % of 1% each during 1910(V. 00, p. 236, 54) which we
have deducted from the earnings of 1909, although notshown in the pamphlet report.
(Report for Fiscal Year ending Dec. 31 1909.)
The report of the company for the calendar year 1909,
including the remarks of President T. C. du Pont and the
income account and balance sheet for each year since the
reorganization of the company in August 1903, will be found
at length on a•previous page.
The report states that since the reorganization there has
been re-invested in new factories and in the general development of business the sum of $13,811,909, in addition to
which the property has been further increased through the
sale of $3,437,000 common stock. This increase in investment, aggregating $17,248,909, is equal to approximately
$61 50 per share of common stock now outstanding. The
company's bonds and preferred stock were listed on the New
York Stock Exchange in October last.-V. 89, p. 1143.
Lackawanna Steel Co.
(Report for Fiscal Year coding Dec. 31 1909.)
RESULTS FOR CALENDAR YEAR.
(Lackawanna Steel Co. and Subsidiary Companies.)
1909.
1907.
1908.
Gross sales and earnings
$25,296,661 $15,087,879 $33,011,410
Less-Manurg cost and oper. expenses 20,586,838 12,741,601 26,388.013
Total income from mfg. & operat'g $4,709,823
Other IncomeDivs. on investments in companies
not controlled-net income from
451,430
property rented, &c
$2,346,278
229,374
607,661
$5,161,253
Total income
DeductAdministration, selling and general
expenses, including taxes
663,683
Commercial discount and interest_
29,194
$2,575,652
$7,231,058
660,387
22,128
734,179
65,425
Net earns. over ord. rep'rs 46 maint. $4,468,375
Deductions per "Income Account"SInk'g fund on bds. & exh'n of min'als $406,916
Depreciation and accruing renewals__ 1,119,941
Int. on Lack. Steel Co. bonds & notes 1,606,250
Int. on bonds of subsidiary cos
453,087
Disc't and comm'n on bonds dc notes
Rentals and royalties
104,072
$1,893,137
$6,431,454
$394,965
744,187
1,499,692
479,030
$449,791
1,282,189
1,435,972
506,611
168,693
144.350
Net income
101,536
$6,623,397
sur$778,109def$1326,273sur$2443,846
CONSOLIDATED BALANCE SHEET DECEMBER 31.
(Lackawanna Steel Co. and Subsidiary Companies.)
1909.
1908.
1908.
1909.
AssetsLiabilities$
Cost of real estate.
Stock outstanding 34,728,000 34,728,000
plants, &c
63,105,916 62,759,109 Lack. I. & S. Co.
Investments In ore
22,000
22.000
stock not owned
companies, &c_ 6,191,379 6,173,952 First mortgage 5%
Deferred charges
cony, gold bonds15,000,000 15,000,000
33,334 5% gold notes_ _l5.000,000 14,990,000
to operations_
63,858
Bond sinking fund
Subsid. cos. bonds 7,767,000 8,069,000
128,161 Ellsworth Coll. Co.
141,862
-cash
pur. money notes 750,000 1,500,000
11,537,126 10,973,648
Inventories
506,998 Current accts. and
Misc. accts. recelv. 917,304
pay-rolls
4,593,288 2.844,637
Customers' accts.
65,751
(less reserve)_.4,641,752 3,686,398 Bills payable
187,982
377,985 Tams accrued, notl
321,545
Notes receivable
due
555,965 1121,846
Cash in bank and
794,883 Interest accrued j
1,299,095
on hand
1488,704
Mines ext ing. and
bond sink. fund 2,167,378 1,566,078
Deprec'n and replacement funds 3,390,909 2,303,289
Contingent & misc.
funds
164,947
376,442
Proilt & loss acct_ 4,014,599 3,236,490
88,219,837 85.434,468
Total
90, D. 240, 170.
Total.Ilabilitles_88,219,837 85,434,488
Pressed Steel Car Co., New York and Pittsburgh.
(Report for Fiscal Year ending Dec. 311909.)
President F. N. Hoffstot Feb. 16 1910 wrote in substance:
General Results.-Our gross sales for the fiscal year were $10,346,816.
About 75% of this business was done (luring the second and fourth quarters
of the year for the repson that durInz the first quarter after the depression
of 1908 the works were not In full operation, and the output for the third
quarter was small, owing to labor difficulties at our McKees Rocks works,
which began July 13 and continued about sixty days, causing a very limited
500
operation. The net profits for the year derived from all sources were
$1,954,583. A 7% dividend on the preferred stock was paid In four
quarterly installments.
Your company at present has a substantial amount of business booked
on which we expect to make a reasonable profit, and we believe car buying
will continue in a regular manner during 1910. The buying of cars during
1909 was considerably below the average yearly requirements for the
last ten years.
Payment of Notes, etc.-The ten-year purchase money mortgage, $235,000, matured In July and was paid, and the ninth installment, due Feb. 1
1910, of your mortgage notes was paid in August last,leaving only $500,000
due Feb. 1 1911 of the original Issue of $5,000,000 notes.
Improvements. &e.-During the year $245,436 was expended on improvements and betterments and almost as much has been charged to expense
account, to cover replacement and repair to the different buildings and
appliances. By way of depreciation there has been credited to properties
and franchises during the year $120,000.
Canada Car Co.,Ltd.-During the summer two important car-manufacturing concerns In Canada were acquired by Canadian capitalists who urged
that the Canada Car Co., Ltd., be merged with them. After many conferences your management sold your company's shares in the Canada Car
Co. to the Canadian capitalists. All the money your company had invested in the Canada Car Co., with interest at 7%, was realized, and in addition $1,700,000 was received for the common stock, and new contracts
covering patents and new business relations were entered into with the
purchasers. All the consideration was paid in cash with the exception of
$500,000 in notes which mature in yearly installments of $100,000, over
a period of five years. Our relations with the new owners, the Canadian
Car & Foundry Co. (V. 90, p. 374, 170; V. 89, p. 1283), Ltd., are most
satisfactory.
Securities Owned.-The reduction in this account is due to the sale of the
Canada Car Co. shares and the payment by the Penn. Malleable Co. of its
bonds held by your company,
. The value placed on the Penn. Car Wheel
Co. stock has been adjusted; this plant did not operate during the year,
and as the lease of the ground expires next year we contemplate disposing
of the buildings, as the rolled steel wheel has materially reduced the demand for cast iron wheels.
Pennsylvania Malleable Co.-The entire property of this company,
86 1-3% of whose stock is owned by your company, has been leased to the
Pennsylvania Car Wheel Co. at a fixed annual rental for a period of 25 years
and machinery has been ordered which will materially increase the efficiency of operation of this works and reduce the cost of its output.
Western Steel Car & Foundry Co.-Thls company started to operate its
Hegewisch plant late in the fall, repairing cars for different roads, but as the
buying of new equipment In the territory tributary to this plant has been
limited, very little business was taken and this company made no earnings
during the past year. It now has a fair amount of business on Its books.
IA press report In January last announced that Alvin C. McCord, who had
recently held 35% of the capital stock of the above company, had sold out
his interests to F. N. Hoffstot, President of the Pressed Steel Car Co.,
giving to the latter interests the entire control of the company.-Ed.]
Patents.-During the year 24 patents were taken out, several suits have
been settled by defendants paying us royalties, and two suits are pending
in the higher courts. Nearly all types of cars now being manufactured
embody some features covered by our patents and we shall endeavor to
protect your company's rights in every instance.
Steel Passenger Cars.-This department, except for the disturbances during the summer, has been operated at its full capacity and with profit.
It has business running well into 1910. Our capacity is not large but the
work done by us has proved satisfactory.
SALES. PROFITS, DIVIDENDS, &c., FOR CALENDAR YEARS.
1908.
1909.
1907.
1906.
$10,346,816 $8,589,422 $36,443,304 $36,158,586
Gross sales
•1,954,583
265,478
Profits
2,907,920
3,381,884
Deduct$875,000
$875,000
$875,000
$875,000
Divs. pref. stock (7%)
110,000
120,000
365,000
350,000
Depreciation & renewals
Balance, surplus
Previous surplus_ _
$959,583def.$719,522
6,413,579
5,694,057
$1,667,920
4,745,659
$2,156,884
2,588,775
$6,653,640 $5,691,057 $6,413,579 $4,745,659
Net surplus
The profits for 1909 Include those from sale of Canada Car Co. stocksee text.
BALANCE SHEET DEC. 31.
1909.
1908.
1909.
1908.
Assets-
Properties & franCommon stock_ _ _12,500,000
27,054,968 26,929,531 Preferred stock_ _ A2,500,000
chises
1,951,740 2,504,384 1st M.5% g. notes 500,000
Securitles owned
Purch.money mtge. 75,000
Taxes and Insur23,546
37,219 Accts. payable_ _ _ 1,639,361
ance
Accr.salarv&wages 141,926
Accounts and bills
2.157,611
668,105 Accrued interest__
10,623
receivable
246,509 Accrued pref. dills. 218,750
Materials on hand. 2,842,075
98/,359 2,837,990 Reserve for cont In. 778,060
Cash
Surplus
6,653,64,0
35,017,360 33,223,738
Total
-V. 90, p. 113.
Total
12,500,000
12,500,000
1,000,000
310,000
169,532
37,001
21.018
218,750
773,380
5,694,057
35,017,360 33,223,738
(The) Mackay Companies, New York.
(Report for Fiscal Year ending Dec. 311909.)
President Clarence H. Mackay Feb. 15 1910 wrote in brief:
Cable Lines.-The Commercial Cable Co. (the entire capital stock of
which is owned by the Mackay Companies) has during the past year renewed on safer and more direct routes the vulnerable parts of two of its
trans-Atlantic cables, laid in 1884. The first step was the laying of a new
cable from New York City to Newfoundland and thence to the eastward of
the "Flemish Cap," in mid-ocean, where it was connected with one of the
1884 cables. About 1,000 miles of cable from the Flemish Cap to Nova
Scotia was thus released, and practically all of it was recovered. In
December 1909 this old cable,re sheathed and re-taped equal to new,was
joined to the second of the two 1884 cables, near the Flemish Cap, and
then laid to Newfoundland and southwards towards New York City, until
It again met the second cable, so that this cable extends from Waterville,
Ireland, to Newfoundland, and thence to Canso and New York During
the coming spring the old cable released will be re-claimed, re-sheathed, retaped,and used to complete the extension of this second cable to New York
City direct from Newfoundland. This change gives the company the only
submarine cables direct from New York City via Newfoundland to Europe,
and also gives it such diversified routes for its five Atlantic cables as to
render almost impossible the disruption of all the cables at the same time.
Land System.-Your land line system also shows great development during the past year. An entirely new pole line on a new route has been constructed from Sacramento, Cal. to Reno, Nev., over the precipitous Sierra
Nevada mountain range. In addition to the usual wires there have been
strung from Reno to Sacramento and San Francisco two heavy copper
wires, each weighing 435 lbs. to the mile and capable of performing both
telephone and telegraph service at one and the same time. This costly line
from Sacramento to Reno will be extended early in the spring eastward
to Salt Lake City, Utah. This extension will also carry the two heavy
telephone-telegraph copper wires, and will give the company an entirely
new transcontinental route from the East to the Pacific Coast. A "special
rush service" has been put in operation reaching all the important'cities of
the United States, whereby messages between those centres are collected,
transmitted and delivered in about 20 minutes. This means a revolution
In telegraphy in the United States.
Sale of Telephone Stock.-The Mackay Companies will sell its entire holding of stock in the American Telephone & Telegraph Co. (said to aggregate
about 82,000 shares, or at par $8,200,000-Ed.), that step being in deference to public opinion, which views with suspicion this large holding of
stock in a company which has recently purchased the control of the Western
Union Telegraph Co. Moreover,that stock was acquired by the Mackay
Companies with a view to bringing about economies in the construction
and maintenance of joint pole lines over long stretches of country, where
the business was not sufficient to justify either company constructing an
Independent pole line by itself. Many such arrangements were made,
each company owning one-half of the pole line, but having nothing to do
with the business of the other company. Since, however, the American
Telephone & Telegraph Co. has acquired control of the Western Union
Telegraph Co., the time has come for the Mackay Companies to sell its
[Vora. Lxxx x
THE CHRONICLE
holdings of stock in the American Telephone & Telegraph Co. and that will
be done. [A syndicate, it is said, has been organized to purchase the
stock, a d, reports say,has already marketed over 75% tf the block.Ed.] The Postal Telegraph system will continue to be free and independent, prepared to maintain the competition which it has furnished
for 25 years.
Extent of System at End of First Quarter Century.-The close of 1909 completes a quarter of a century's existence of the Commercial Cable-Postal
Telegraph systems. Those systems to-day operate 350,125 miles of wire
and 28,379 miles of trans-Atlantic and trans Pacific cable in and to America,
Europe and Asia. By connections they reach every part of the world. At
the Azores Islands connection is made with the Eastern and Western telegraph systems for Southern Europe, Asia, Africa, Australia and South
America. At London, with the Great Northern Telegraph Co.,for Scandinavia, Russia in Europe and Russia in Asia. In Canada with the Canadian
Pacific Ry. Co. to all parts of Canada. At the Bonin Islands with the Japanese Government system. At Shanghai with the Chinese Government
system. They also connect with the German Atlantic and Pacific systems,
the British Pacific Cable, the Halifax & Bermudas Cable Co., the Direct
West India Cable Co. and the telegraph lines of the Newfoundland Government. Your system extends two-thirds around the world; and with two of
its allied companies it encircles the globe.
[Accompanying the annual report are two pamphlets, one giving an
account of the 25th anniversary celebration held Jan. 8 and the other entitled "History of Competition," containing extracts from the testimony
of Clarence H. Mackay given Jan. 21 1910 before a committee of the
New York State Legislature.-Ed.j
PROFIT AND LOSS ACCOUNT FOR YEARS ENDING FEB. 1.
1909-10.
1908-09.
1907-08.
1906-07.
Income from investm'ts
In other companies __$3,808,779 $3,685,761 $3,830,390 $3,310,328
Divs. on pref. stock_ _ :(4)2,000,000(4)2,000,000 (4)2,000,000
1,744,462
Divs. on corn, stock(4 Y1)1.758,667(4)1,655,216 (4)1,655,216 (3)1,241,412
Oper. exp., incl. transfer
agents', registrar's and
trustees' fees, office
25,027
rent, salaries, &c_ _ _ _
32,335
22,251
24,625
$17.777
$5,518
$152,923
Bal. carried forward_
BALANCE SHEET FEB. 1.
1909.
1910.
1910.
Assets$
Liabilities$
$
Investmls In other
Pref.shares Issued 50,000,000
companies _ _ _92,083,965 92,075,593 Com.shares issued 41,380,900
Cash
200,201
190,796 Balance, profit _ _ _ 903,766
Total
92,284,166 92,266,389
Total
92,284,166
-V.89, p. 1414.
$299.829
1909. .
$
50,000,000
41,380,400
885,989
92,266,389
.
New York Air Brake Co.
(Report for Fiscal Year ending Dec. 31 1909.)
President C. A. Starbuck, New York, Feb. 14 1910, wrote:
Practically all the profits of the year have been made in the past four
months, as during the first eight months the railroads were unable to finance
their requirements. The change in conditions came late in the summer,
and since then our business has steadily grown, and we now have unfilled
orders aggregating over $1,250,000. We believe that the year 1910 will
be a prosperous one for the company. A large sum has been expended in
putting our machinery in good repair, all of which has been charged off.
The company has made many improvements In its brake apparatus, necessitated by the increase in train-load and motive power, on which it has
taken valuable patents, both in this country and in Europe.
CONSOLIDATED INCOME ACCOUNT YEARS ENDING DEC. 31.
1908.
1909.
Sales and other incomes
$2,115,116 $1,601,606
Deduct$1,660,244 $1,237,507
Cost of manufacturing and selling
120,000
Interest on bonds
181,800
3,988
Depreciation (less reserve)
$1,846,032 $1,357,507
Total deductions
$244,099
$269,084
Balance, surplus
CONSOLIDATED BALANCE SHEET DECEMBER 31 1908.
1908.
1909.
1909.
1908.
Assets$
Factory plan(s_ _1
10,000,000 10,000,000
(4,260,655 Capital stock
Patents, fran.,&c)10.930,842 {4,997,614 First M. cony. bds. 3,000,000 3,000,000
Water power- - - -1
221,128
21,201
(1,378,935 Accounts payable_
Stocks of other cosl 541,:328 (416,200 Accr. Int. on bonds
30,000
30,000
Real estate (other}
63,93c
Reserve for deprec.
than factories).)
60,000 Iteal est. M.(other
Sundry items_ ---1
I 46,715 (than factories).
20,000
20,000
Cash on hand_ _ } 1,808,576 1318,071 Profit and loss_ _ _
7,618
Accts. receivable.'
1465,990
Inv. mdse. (cost))
1899,489
Deficit
261,466
Total
13,278 746 13.135.133
-V.88, p. 825.
Total_ _
13,278,746 13.135.134
Chicago Pneumatic Tool Company.
(Report for Fiscal Year ending Dec. 31 1909.)
Pres. W. 0. Duntley, Chicago, Feb. 11 1910, wrote:
The indebtedness (exclusive of the sinking fund installment of the general mortgage) has been reduced during the year by $147,101. There exist
no contingent liabilities for bills discounted, nor guaranties to banks for
foreign subsidiary companies. The company is on a substantial basis,
with sufficient working capital for prospective requirements. The sum of
$134,573 has been appropriated for depreciation, maintenance and renewals.
The annexed statement of profits, subdivided for the first and second
half of the year, indicates the improvement In business conditions experienced during the last six months of the year. The orders already on hand
reasonably assure a larger volume of business for 1910. All the plants are
being operated to their full capacity. The foreign subsidiary companies
are in a prosperous condition and are gradually developing an increased
demand.
RESULTS FOR YEAR 1909 BY HALF-YEARS.
DepreciaBalance,
Sinking
Net
Period
Bond
tion, etc. Surplus.
Fund.
Profits.
Interest.
Covered$42,814
$59,354
$25,000
$186,468
First half
$59,300
80,814
207,796
25,000
Second half
372,460
58,850
RESULTS FOR CALENDAR YEARS.
1906.
1908.
1907.
1909.
$289,625
$848,007 $1,001,550
Net profits
$558,428
$115,000
*117,129
$119,050
Deduct-Bond interest.. $118,150
Dividends
(3)190.063 (4)244,351
50,000
50,000
50,000
50,000
Sinking fund
176,595
150,082
99,062
140,168
Depreciation, &c_ _ _ _
$559,433
Total deductions_ _ _ _
$268,112
$553,787
$308,318
Undivided profits
*21,513 '$314,220 •$442,117
$250,610
31.
DEC.
BALANCE SHEET OF
1909.
1908.
1909.
1908.
$
$
LiabilitiesAssetsCapital stk. Issued 0,485,800 0,485,800
Real estate, plant,
patents,good-wIII,
First M. Is issued_ 2,500,000 2,500,000
45,000
60,000
&c. less reserves_ 6,825,716 6,774,429 Mtge. assumed_ _ _
57,829
Interest on bonds_
57,704
Stock other co's,
&c. (cost)
1,203,257 1,292,666 Accounts, &e. pay106,981
132,691
Treasury bonds
able
200,000
200,000
60,000
166,392
Treasury stock_ __
37,000
37,000 Bills payable
3,896
Reserves
Cash dr acc'ts&bliis
1,350
521,645
442,781
rec., less reserves 1,127,328
918,445 Sinking fund
1,072,174 , 821,564
Sinking fund
521,645
442,781 Surplus
Inventories
938,379 1,002,961
Total
10,853,325 10,668,282
-V. 89. D. 1070.
Total
10,853,325 10,668,282
FEB. 19 1910.1
THE CHRONICLE
Cumberland Telephone & Telegraph Co., Nashville, Tenn.
(Report for Fiscal Year ending Dec. 31 1909.)
President James E. Caldwell, Nashville, Jan. 31 1910,
wrote in substance:
501
and liquidated was $402,611. This includes the preferred shares of Bryant
& May, Ltd., which were sold at a profit of $47,864 in excess of the figures
at which they were carried.
The net amount employed in the California lumber operation in inventories, manufactured lumber, accounts and bills receivable and cash
Dec. 31 1909 was $1,118,098 and is included in the balance sheet herewith.
The increase in the accounts receivable partially reflects the materially
greater volume of sales of matches during 1909; similar increases involving
additional capital must- be anticipated as the business expands from year
to year.
Indebtedness.-The amount owing Bryant & May, Ltd., as at Dec. 31
1909, on account of the purchase of their interest in the California lumber
operation, was $1,524,356,and is payable in equal semi-annual installments
of $72,900 each. This indebtedness was reduced during the year by
$425,608, of which $352,708 comprised part of the proceeds arising from
the sale of the preferred shares of Bryant & May, Ltd., which had been set
aside for this purpose.
Coupon notes aggregating $500,000 were retired and canceled at maturity
July 1 1909.
Bryant & May.-No part of the accumulated earnings of Bryant & May
Ltd., or any other corporation in which your company is interested,
included in the profits of the company, except as may be represented by
dividends declared or paid to this company during the year.
INCOME ACCOUNT.
1909.
1908.
1907.
1906.
Net profits after deduct.
reserve for doubtful accounts, &c
$2,196,877 $2,279,911 $2,610.836 $2.307,623
Depreciation, repairs and
replacements
477,095
385,187
314,760
313,854
In pr&enting the report of operations for 1009,attention is called to the
fact that for 20 years, without break, the growth has been continuous, with
the present figures the best in every respect. The efficiency of the property, coupled with the substantial increase in earnings, tells its own story
1910.
1890.
1900.
Number of exchanges Jan. 1
149
527
13
Number of subscribers Jan. I
206,287
3,961
36,146
Capital stock issued Jan. 1
$1,695,700 $3,459,200 $19,680,150
Gross earnings for the year
6,615,368
1,884,014
250,183
Net earnings for the year
2,156,847
517,061
85,136
Square miles territory served Jan. I.._
175,768
130,574
32,124
8,523,447
Population in territory served _____
4,845,737
1,532,680
In the meantime, since Jan. 1 1890, improved types of instruments and
apparatus have been substituted; copper wire in lead cables for iron
wires; underground for overhead structures, and telephone and telegraph
messages are being sent over the same wires simultaneously.
The company has 44 buildings of its own, and for its own use, as follows:
Chattanooga, 2; Memphis, 4; Nashville, 6; Louisville, 6; Evansville, 2;
New Orleans, 8; and one each in Frankfort, Hopkinsville, Owensboro,
Paducah and Lexington, Ky.; Meridian, Jackson, Columbus, Ellisville and
Vicksburg, Miss.; New Albany, Ind.: Shreveport, La.; and Union City,
Jackson, Knoxville and Clarksville, Tenn.
GROWTH OF SYSTEM.
1909.
1908.
1907.
1906.
1905.
1904.
Balance of profits
$1,719,782 $1,894,724 $2,296,076 $1,993,770
Tot.subscribers Dec.31_206,287 187,259 186,871 165,190 141,266 121,313
Profit from sale of Bryant
EARNINGS, EXPENSES, CHARGES, &C.
& May preferred stock_
47,865
1909.
Earnings1908.
1907.
1906.
Exchange service
$4,535,289 $4,232,429 $4,026,816 $3,643,658
Total net earnings____$1,767,647 $1,894,724 $2,296,076 $1,993,770
1,861,009
Tolls
1,654,700
1,548,550 Reconstruction chged. off
1,661,887
$59,848
Realestate(
63,618
64,302
50,515 Approp. for gen. reserve_
150,000
20,000
1 219,070{1,911
Private lines
1,558 Depreciation reserve_
150,000
)
l
Other sources
191,0711
140,563 Dividends
(8%)1,280,000 (10)1600000 (10)1600000 (10)1,550000
162,357
Total
$6,615,368
ExpensesGeneral expenses
$384,484
Operating expenses
1,451,690
Maint., reconstruc'n, &c_ 2,030,856
Real estate & miscell_
12,410
$6,141,818
$5,917,273
$5,384,844
$366,435
1,345,998
1,933,112
17,428
$419,834
1,247,937
1,962,312
12,551
$396,132
1,150,022
1,889,330
11,923
Total
Net earnings
DeductTaxes
Interest
Dividends
$3,662,973
$2,478,845
$3,642,634
$2,274,639
$3,447,407
*1,937,437
$3,879,440
$2,735,928
$432,182
$331,172
$191,433
$319,847
146,899
154,243
213,567
202,103
(8%)1,574,412(73.)1476011 (7)1327,681 (7)1,129,504
Total deductions
$2,153,493 $1,961,426 *1,849,631 $1,534,504
Surplus earnings
$402,932
$582,435
$517,419
$425,008
Total surplus Dec. 31_33,969,168 $3,286,202 $2,768,783 $2,343,775
BALANCE SHEET DECEMBER 31.
1909.
1908.
1909.
1908.
AssetsLiabilities$
$
$
$
Plant
26,042,430 24,381,298 Capital stock
19,680,150 19,680,150
lteal estate and
Bonds and debs
998,000 1,000,000
buildings
801,309
790,163 Surplus
3,960,168 3,286,202
Materials
725,636
640,861 Res've for renewals 1,453,886 1,198,586
Stocks and bonds.. 496,425
435,599 Bills and accounts
Cash
563,979
457,547 'payable (nct)___ 2,122,205 1,144,722
Res. for cont. liab_
12,766
2,205
Undivided profits. 393,603
393,603
Total
28,629,779 26,705,468
Total
28,629,779 26,705,468
-V.90, D. 375.
(J. G.) Brill Company, Philadelphia.
(Report for Fiscal Year ending Dec. 311909.)
President James Rawle, Phila., Feb. 9 1910, wrote in brief:
The output from the five plants owned and operated by the company
amounted to $4,261,204, contrasting as follows:
1909.
1906.
1908.
1907.
Output
$4,261,205 $3,845,174 $9,211,826 $6,908,346
The result, in spite of an output far below normal, and in spite of the
very low prices in the later part of 1908 and during most of 1909, showed a
substantial profit. The subsidiary companies showed a loss; the Stephenson plant was closed most of the year and the other three were operated at
only a small part of their capacity. The condition of the plants is excellent.
The excellent financial condition of the company needs no comment.
The outlook for profitable work is much improved. On Dec. 31 1908 the
combined work on hand amounted to $1,717,338. On Feb. 1 1910 the
combined companies.had orders on the books and in process of completion
amounting to $2,755,776, an increase of $1,038,438.
The J. G. Br-ill Co. and Subsidiary Companies' Sales and Expenditures for
the Years ending Dec. 31.
1909.
1907.
1908.
Total sales
$2,868,396 $3,845,174 $9,211,825
Operating, general and admin. cap
2,630,417
3,656,3431
Depreciation reserve
56,303
98,090j 7,842,876
Net profit
Profit from other sources
$181,676
52,909
$90,741
$1,368,949
Total net earnings
$234,586
$90,741 $1,368,949
Less-Dividends on preferred stock..(7%)320,600(7%)320,600(5 J()228,725
(2%)100,000 (3%)150,000
Dividends on common stock
Interest, incorporation exp., incl.
incorporation bonus to State and
adjustment of acc'ts prior to
Feb. 1 1907
30,645
172,940
Loss of subsidiary companies
52,753
Reserve for depree'n subsid. cos
51,049
Balance, surplus or deficit
def .$189,816def .$360,504sur .$817,284
THE J. G. BRILL CO. AND SUBSIDIARY COMPANIES'COMBINED
BALANCE SHEET DEC. 31.
1909.
1908.
1909.
1908.
Assets$
LiabilitiesS
Cost of properties. 8,468,673 8,297,147 Preferred stock_ _ _ 4,580,000 4,580,000
Material, raw, in'
Common stock_ __ 5,000,000 5,000,000
proc. & finished 1,980,841 1,510,216 Bonds (John Ste90,431
Investments
69,267
phenson Co.)_ _ _
400,000
400,000
Bills & acc'ts ree'le 1,319,470 1,442,489 Bills & acc'ts pay.. 987,513
438,743
193,092
439,074 Surplus
Cash
a1,085,004 1,339,450
Surplus
$187,647
Prey. surp. (as adjusted) 677,940
Total surplus
$865,587
$214,876
463,064
$696,076
1,387,856
$443,770
888,147
$677,940 **2,083,932
$1.331,917
• From the total surplus, $2,083,932, as of Dec.31 1907, there was written
off: reduction in value of pine lands and stumpage, $703,497; reduction in
patents, rights, trade-marks, &c., $917,371; surplus, balance, Dec. 311907,
$463,064.
BALANCE SHEET DEC. 31.
Assets1908.
1909.
1907.
1906.
Plants & other invest'ts_ $8,064,057 $8,063,187 $6,419,$131 $7,858,869
Pine lands and stumpage 1,845,762
1,997,876 71,268,858J
Patents,trade-marks,&c. 5,000,000
5,000,000
5,000,000
5,91,7,370
Def. charges to operation
129,421
Sierra purchase
708,409
Purchase Bryant & May,
less their payment
($383,409) on account
325,000
Matches
954,182
1,097,158
849,712
398,763
Lumber and logs
2,421,239
2,278,585
1,569,1741 1,624,899
975,278
Misc. mdse. & supplies_
1,060,481
701,7681
Notes receivable
6.337
96,509
152,353
91,385
1,648,450
Accts. receiv., less res've 1,929,947
1,470,570
1,330,767
Cash
551,520
540,520
303,802
753,288
$21,877,743 $21,782,766 $18,768,959 $17,975,341
Total
Liabilities$16,000,000 $16,000,000 $16,000,000 $16,000,000
Capital stock
Notes payable
y1,800,000
2,000,000
660,000
Sierra purchase
z1,524,356,
1,949,964
650,000
Accounts payable
818,7211
Int.&pay-rolls(pd.Jan.).
159,699}
907,012
819,506
563,425
Taxes accrued (est.)- -- 51,845)
Reserves
657,535
247,850
176,389
80,000
Surplus and profits_ _ _ _
865,587
677,940
463,064
1,331,916
Total
$21,877,743 $21,782,766 $18.,768,959 $17,975,341
Including one-half interest in pine lands and stumpage In California,
after deducting $703,497 written off against surplus.
y Includes 5% gold notes. $1,500,000, and notes payable-banks.
$300.000.
z Deferred payments due 1910 to 1923 to Bryant & May, Ltd., on California purchase.-V. 90, p. 449, 375,
GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING ELECTRIC ROADS.
Albany & Northern Ry.-Sale.-See Georgia Southwestern & Gulf RR. above.-V. 83, p. 1522.
Baltimore & Ohio RR.-Approximate Six Months' Statement.-The following statement for 6 months ending Dec. 31
1909 is pronounced approximately correct:
Six
Mos.-
Gross
Earns.
Net (after
Taxes.
Other
Income.
Fixed
Charges.
Pref.div.
(2%)
Bal.for
Com.
s
1909 ____44,070,620 13,439,863 2,000,000 6,270,000 1,200,000 7,989,863
1908 ____39,147,007 12.065,296 2,000,000 6,270,000 1,200,000 6,935,296
Dividends at 3% for each of the six months call for $4,565,275, leaving
a surplus of $3,404,588 in 1909, against $2,370,021 in 1908.
Improvements.-The board of directors last week authorized
expenditures aggregating about $8,000,000.
Of the amount, $5,000,000 is for improvements on the roadway and
$3,000,000 for equipment, making, with the $13,000,000 order for locomotives and cars now being filled, a total of $16,000,000 for new equipment.
There are also other large antounts to be expended for improvements in
various parts of the system, including the construction of a third track over
the Alleghanies. It is reported that a conservative estimate of present requirements would be $30,000,000 to $35,000.000, for which securities may
possibly be issued within a few months.-V.90, p. 166, 107.
Belton & Temple (Tex.) Traction Co.-Receivership.-Judge Maxey in the Federal Court at Austin, Tex., on Feb. 8
appointed a receiver in foreclosure proceedings brought under
12,052,517 11,758,103
Total
Total
12,052,517 11,758,193 the first mortgage for $300,000.
Boston RR.Holding Co.-Application to Issue Securities
a After deducting $64,629 adjustments.-V. 90, p. 449.
The company has petitioned the Massachusetts Railroad
Diamond Match Company.
Commission for permission to issue $680,400 additional stock,
(Report for Fiscal Year ending Dec. 31 1909.)
increasing the same from $2,421,600 to $3,102,000, to acquire
Pres. Edw, R. Stettinius, New York, Feb. 9 1910, wrote: $2,786,800 additional common stock and $71,700 preferred
General Results.-The earnings for the year were $1,767,646, as compared stock of the Boston & Maine. The company has agreed
with $1,894,724 for 1908. These amounts were determined after deducting to pay $125 in 4% bonds and $30 in stock for each share of
from gross earnings for repairs and replacements $356,798 and for depreciation, $120,297, a total of $477,095, contrasting with $385,187 ($298,506 Boston & Maine common stock and $125 in bonds and $37
and $86,681 respectively) in 1908. The increase of $58;292 in repairs and in stock for each share of preferred stock. Compare V.
replacements is partially due to floods at Stirling and Red Bluff. There 90, p. 446, 371.
was appropriated from the net earnings for 1909 $150,000 for general reserve
account and $150,000 for depreciation reserve account.
Boston & Maine RR.-Authority Asked to Purchase Control
Balance Sheet.-DurIng the year the net additions and improvements to
plants amounted to $403,481. The value on the books of investments sold of Leased Road.-The Massachusetts Railroad Commission
THE CHRONICLE
50?
has been requested to sanction the purchase of a majority of
the ($3,099,800) capital stock of the Worcester Nashua &
Rochester RR., a leased line.
Purchase of Stock by Boston Holding Co.—See that company
above.—V. 90, p. 446, 235.
Brooklyn Rapid Transit CO.—Large Purchase by Boston
Interests.—The 'Boston News Bureau" of Feb. 17 says:
An important new Boston interest has within the last few months bought
into Brooklyn Rapid Transit stock after making careful investigation of the
company's earning and physical condition. It is estimated that this new
interest holds at present between $2,500,000 and $3,000,000 stock. There
is one larger Boston interest, the two together holding approximately
$7,500,000, or 17%, of the $45,000,000 stock. In all, the New England
Investment is estimated at fully 25% of the outstanding stock.—V.90,
p. 302, 166.
Central RR.of New Jersey.—New Director.—Henry Graves
Jr. has been elected a director, succeeding the late H. McK,
Twombly.—V. 90, p. 236.
Chesapeake & Ohio Ry.—Report Pronounced•Premature.—
The -statement that the company as owner of one-sixth of
the majority common stock of the Hocking Valley Ry. is
negotiating with the roads owning the remainder of the majority interest with a view to controlling an outlet for its
coal to the Great Lakes is pronounced "premature and unauthorized."
Improvements, &c.—The directors on Thursday authorized
the expenditure of about $5,000,000 for further improvements, including double-tracking, enlargement of freight
yards, additional side-tracks, &c. An issue of $30,000,000
"general funding and improvement" bonds was created
early last year, of which $11,000,000 were sold (V. 87, p.
1663).
Mr. Hawley's Election to Board of Pittsburgh Shawmut
Northern RR.—See that company below.—V. 89, p. 1068.
Chicago Rock Island & Pacific Ry.—See White & Black
River Valley RR. below.—V. 90, p. 302, 236.
Cleveland (Electric) Ry.—Ordinance Approved at Referendum.—The electors on Feb. 17 at the referendum election
approved the Tayler ordinance passed Dec. 18 last granting
a new 25-year franchise to the company at an initial fare
of 3 cents with 1 cent extra for transfers without rebate.
The vote Is reported to be 27,307 In favor to 19,197 in opposition. The
3-cent fare went into effect this morning. Compare V.89, p. 1667.—V. 90.
p. 302, 167.
Columbus (0.) Railway & Light Co.—Remaining Treasury
Common Stock Offered.—Notices have been sent to the stockholders of both classes offering them the right to subscribe
for the $500,000.common stock held in the treasury pro rata
at par to the extent of one-thirteenth of their holdings.
The stock is to be sold to reimburse the company for expenditures for
new cars and other Unprovements. Warrants for the amount of stock each
stockholder is entitled to subscribe for will be mailed to each stockholder,
and these must be surrendered.with the subscription between March land
15.—V. 90, p. 303.
Dallas Cleburne & Southwestern Ry.—Sale.--The Missouri Kansas & Texas has acquired all the securities,
The road extends from Egan to Cleburne, Tex., 10 miles, and has been
operated by the M. K. & T. under a contract terminable at 30 days' notice.
Stock, $10,000; bonds, $150,000.—V. 83, p. 213.
Delaware RR.—Lease.—The stockholders on Feb. 15
voted to lease the road to the Philadelphia Baltimore &
Washington on terms stated in V. 90, p. 447, 167.
Denver Laramie & Northwestern Ry.—Re-incorporation.
—The shareholders at a meeting held in Laramie, Wyo., on
Feb. 10 voted to transfer the property to the Denver Laramie
& Northwestern Railroad, incorporated at Cheyenne on
Feb. 9, with authority to extend the line to Seattle. It is
proposed to complete the road to Laramie this year, building
150 miles.
The organization of the new company Is variously reported as accompanied by an increase in the authorized "capitalization from $5,000,000 to
$35,000,000," and by "an increase of the capital stock from $5,000,000 to
$30,000,000, of which $22,500,000 is to be issued in bonds for building 750
miles of road. The old company had In operation 43 miles of road, Denver
to Milliken, with 12 miles to Greeley under construction; capital stock,
$5,000,000, all issued; bonds authorized, $3,300,000, at $15,000 per mile.
__Ar. 89, p. 922.
Denver Northwestern & Pacific Ry.—Guaranteed Bonds.—
See Northwestern Terminal Ry. below.—V. 89, p. 993.
El Paso (Tex.) Electric Co.—Initial Dividend.—An initial
semi-annual dividend of 2% on the $1,000,000 common
stock has been declared, payable March 15 to stockholders of
record Feb. 28.—V. 90, p. 109.
Georgia Railway & Electric Co.—Report.—For year:
Fiscal
Year—
1909
1908
Other Int. & pf.Div.Com.Div. Bal.,
Net
Gross
Earnings. Earnings. Income. Taxes. (5%). (6%). Surp.
3,673,007 1,902,865 38,054 845,242 120,000 510,876 464,801
3,339,021 1,689,027 33,827 833,402 120,000 510,876 258,576
90, p. 236.
[VoL. Lxxxx.
Gulf Line Ry.—Sold.—The company, which leases the
Hawkinsville & Florida Southern, the two roads extending
from Hawkinsville, Ga., to Bridgeboro, 79 miles, has been
sold to Eastern capitalists, who, it is said, wille xtend the
road at once from Bridgeboro to Camilla, about 40 miles,
and later to the Gulf. The officers are: Pres., W. .1. Edwards; Sec. and Treas., Geo. L. Twigg.—V. 89, p. 847.
Hudson Companies (McAdoo Tunnel System).—Offering
of $11,000,000 6% Secured Convertible Notes.—Harvey Fisk &
Sons, New York,are offering at par and interest, by advertisement on another page, the unsold portion of a new issue
of $11,000,000 6% secured convertible gold coupon notes,
principal payable Feb. 1 1913, but redeemable at option of
company at 100 and interest on any interest date upon 30
days' notice. Interest payable F. & A. Par $500 and
$1,000. These notes are specifically secured by deposit
with the Guaranty Trust Co., as trustee, of 150% of Hudson
& Manhattan RR. first mortgage 4% bonds, due 1957,
tax-exempt in the State of New York, and are convertible
at 100 at the pleasure of the holder, at maturity or on any
prior redemption date, into said bonds at 95 and interest.
"This issue of notes provides for all obligations of Hudson.
Companies maturing in 1910, and for advances to the Hudson & Manhattan RR. Co. for the completion of its lines as
set forth in letter of President W. G. McAdoo."
Subscriptions will also be received by Continental National Bank,
Chicago: G. H. Walker & Co. St. Louis; Geo. Eustis & Co., Cincinnati;
Fidelity Title & Trust Co. PlAsburgh; Cassatt 80 Co., Philadelphia; Jackson & Curtis, Boston; Baltimore Trust ec Guarantee Co., Baltimore, and
Bank of Pittsburgh N. A.. Pittsburgh.
Approximate Financial Position of Hudson Co.'s upon Sale of these Notes.
Resources—
Real estate equities In N. Y. City (chiefly great Gimbel store) _ _$4,500,000
Hudson & Manhattan RR. Co. First Mtg. 4;4% bonds
• 37,032,000
2,229,231
Preferred stock
27,186,203
Common stock
Indebtedness$10,000,000
8% Notes due Oct. 15 1911
3,000,000
5% Notes due Aug. 1 1912
11.000,000
6% Notes due Feb. 1 1913
Abstract of Letter from W. G. McAdoo, President Hudson & Manhattan
New York, Jan. 25 1910.
RR. Co
The present uptown terminus In New York City is at 23d St. and 6th
Ave. The lines are being rapidly extended to 33d St. and Broadway,
and should be completed 13y the early fail. [The great Gimbel store, referred to above, is located at 6th Ave. and 32d and 33d streets, and is expected to be opened in April 1910. V. 88, p. 748. 1127.—Ed.] In Jersey City the present terminus is at Pennsylvania RR. Station. This line
Is being pushed rapidly back into the business centres of Jersey City, and
the station at Newark Ave. should be in operation by Aug. 31. From that
point the line is being extended to Summit Ave., where the tracks come to
the surface and connect with the Pennsylvania RR. for joint through service to Newark. This line should be In operation early in 1911, when it
will become tin principal entrance for Pennsylvania RR. traffic into downtown New York.
The completion of these lines, together with the construction and equipment of large storage yards and repair shops in Jersey City, will cost some
$6,000,000, and it is for this purpose that Hudson Companies is making
further advances to the railroad company.
The system, when so in operation, will be able to derive full benefitfrom
the traffic of this great territory. It will afford the most direct and quickest route from Newark. Jersey City and Hoboken to uptown and downtown
New York, and will connect with the Pennsylvania, Lehigh Valley, Erie
and Lackawanna railroads and the trolley lines terminating at the New
Jersey water-front.
Subject only to $5,000,000 New York & Jersey RR. Co. 1st M. 5s, on a
comparatively small part of the system, the 4 54% bonds which are pledged
as collateral for the note issue of FIudson Companies constitute an absolute
first mortgage upon all the property of the company, including its tunnels,
railways, franchises, power houses and terminals, including the Hudson
Terminal Bidgs. at Cortlandt, Fulton and Church streets, N. Y. CIty,
which alone are conservatively valued at $15,000,000.
Upon the completion of the system as above stated, there will be outstanding $64,500,000 IIudson & Manhattan RR. Co. bonds; but in order
that the fixed interest charges may be well within the earning capacity,
Hudson Companies will agree that, until the expiration of two years after
the operation of the system, completed as above stated, interest upon $5,000,000 of the bonds held by it shall be paid only out of net earnings remaining after payment of all other interest charges.
Based upon bonds limited as above stated, the annual Interest requirements of the Hudson & Manhattan RR. Co. will be $2,971,200, as follows:
4% on $59,500,000 Hudson & Manhattan HR. bonds, $2,677,500; 5%
on $5,000,000 New York & Jersey RR. bonds, $250,000; 5% on $874,000
car trust certificates. $43,700.
Estimated Net Income of $3,500,000 or Over to Meet $2,971,200 Interest.
The lines of the system now in operation are carrying monthly
over 4,000,000 people, or at the rate of about 49,000.000 per
annum, and, with the lines under construction completed to
33d St., N. Y., and to the business centers of Jersey City and
Newark an annual traffic of at least 80,000,000 people is assured (this is only about 60% of the traffic crossing the Hudson River annually to and from New York City), affording,
$4,000,000
at a 5-cent fare, gross earnings of
Operating cost, including taxes, at 45%—the present actual
1,800,000
rate—which a larger traffic will materially reduce
$2,200,000
Net earnings estimated from railroad operation
1,100,000
Add rental of Terminal Buildings
Income from other property owned, from advertising and other
200,000
privileges
$3,500,000
Total net Income for fixed charges (of $2,971,200)
These figures show a surplus of *528,800 over interest charges. The belief that they will be exceeded by actual results as soon as these lines are
completed and In operation is fully warranted by the growth of traffic since
the opening of the road.
The company has recently been granted a valuable franchise for the extension of its tunnels from 33d St. and Broadway to the Grand Central
Station at 42d St., and a connection with the New York Central and New
York New Haven & Hartford RR. systems.—V. 90, p. 447, 236, 234.
Georgia Southwestern & Gulf RR.—Acquisition.—The
Hudson & Manhattan RR.—Status—Earnings, &c.—See
company has acquired control of the Albany & Northern
Ry., extending from Albany northeast to Cordele, 37 miles. Hudson Companies above.—V. 90, p. 110.
The company proposes to build a line from Albany southwest to St. AnJohnstown Passenger Ry.—Bonds to Be Paid.—The endrew's Bay, on the Gulf of Mexico. 160 miles, with a branch to Dawson,
mtge. 6% gold
Ga. W. M. Legg has been elected Vice-Pres. and Gen. Mgr. of the Albany tire outstanding amount ($229,000) of first
& Northern, succeeding J. S. Crews, who remains Treasurer. Compare bonds due March 1 1910 will be paid when due at the office
V. 90, p. 109.
of the Fidelity Trust Co. of Phila., trustee.—V. 89, p. 1668.
Grand Trunk Ry. of Canada.—Dividend on Second PreferJoplin Union Station Co.—Sale of Bonds.—The company
in
directors,
addithe
ence Stock.—Cable advices state that
sold to George C. White Jr. & Co., New York, and the
has
4%
stock
guaranteed
and
tion to the full dividends on the
Trust, Safe Deposit & Insurance Co. of Phila.,
Philadelphia
ending
half-year
the
also on the first preference stock for
mtge.
the
on a joint bid, $750,000 43-% 1st mtge.
trustee,
calenthe
for
Dec. 31 last, have declared a distribution of 5%
bonds
1910 and due May 11940, but callable
1
dated
May
only
against
stock,
dar year 1909 on the second preference
Int. M. & N. at office of trustee.
5
at
after
years
105.
balance
The
the
earnings of 1908.
234% on the latter from
will be used by the Ateh. Topeka & Santa
The
when
station
completed
as
stated
is
of
the
dividends
payment
carried forward after
Fe, Kansas City Southern, M. K. & T. and Missouri & North. Arkansas,
which Jointly own the entire $40,000 capital stook.
£11,800.—V. 90, p. 447, 167.
•
THE CHRONICLE
FEB. 19 1910.1
503
lands and permanent improvements to the mortgaged property, under
carefully guarded restrictions approved by your counsel. They are unconditionally guaranteed as to principal and interest by the Denver Northwestern ec Pacific By. Co. by endorsement on each bond. Interest is payable Jan. 1 and July 1 at the office of the Mercantile Trust Co., trustee, In
New York, or at the First National Bank of Denver.
A first and only mortgage upon all property now owned or hereafter
acquired, including 5.56 miles of track, and a complete and adequate
entrance to and terminals in Denver:
(1) Downtown Freight and Passenger Terminals.-36.22 acres of land in
the heart of Denver, adjoining the terminals of the Colorado & Southern,
C. B. & Q. Union Pacific and D. & R. G. railroads, within three blocks
of the Union Passenger Station and adjoining the centre of the business
district of the city. On this tract is situated a modern commodious passenger station of brick, metal-roof construction, containing two parallel tracks;
also a commodious freight station covering 8,704 sq.ft. of ground, with three
parallel loading and storage tracks. A considerable portion of this tract
required for railroad purposes is sublet as stated below.
Bal., not now
Corn.
Gross
Cal.
Other Int .Patd Pf.Div.
Net (after
(2) Right of Way and Tracks Through the City.-A right of way varying
Surp. from
Div.
(5%)
Year. Earns.
Inc. cfc Accr.
Taxes).
to 450 ft. in width, being of sufficient width for from 6 to 24
ft.
92
1909 $2,890,303 $1,008,897 $78,829 $385,385 $125,000 $545,650 $31,692 tracks, extending from above 36.22-acre terminal property northward to
3,525 the city line, embracing 54.49 acres, with all necessary tracks, switches.
1908 2,714,353
989,350 44,202 380,210 125,000 524,817
accident
for
From the surplus as above in 1909 there was set aside $25,000
&c. to handle present volume of business, and also two new bridges across
reserve, leaving $6,692.-V. 90, p. 372, 167.
South Platte River.
the'
(3) Storage Yard Outside the City.-A storage yard of 40.57 acres in exthe
of
membership
-The
Directors.
-New
Manila RR.
tent, just outside the city line, with tracks for the convenient handling of
board has been increased by the election oftraffic and completing the physical connection with the Denver North& Pacific By. at Utah Junction.
Major Frank McIntyre, U. S. A.. Ass't to Chief of Bureau of Insular western
(4) Right of Way Across the City.-A right of way in West 46th Ave..
Affairs,
Insular
of
Washington,
Affairs; Paul Chariton, Law Officer, Bureau
extending across the northwestern portion of the city from Lowell BouleD. C., and Wade Gard'ner of the Hong Kong & Shanghai Banking Corp.
of way described in paragraph 2 above.
[The election of the representatives of the Government to the board was vard to a connection with the right
Disinterested appraisers have valued this property as real estate for other
In compliance with the terms of the amended concession, whereby the than
railroad purposes at $2,535,544. Others have appraised it as railroad
Philippine Government guarantees the interest on the bonds to be issued
property at approximately $3,500,000. In addition the proceeds of $225,for the construction of its southern lines.]
The company now operates approximately 300 miles of railroad in the 000 bonds are being expended upon improvements.
entire property, except a strip varying from 37 to 57 feet in width
Island of Luzon, and when its projected lines are completed it will have a is The
leased for 99 years to the Denver Northwestern & Pacific Ry. Co. at a
ssrstem of approximately 800 miles of road, all connected with Manila. rental
to all operating expenses, taxes, assessments, Insurance and
equal
Speyer & Co. are the fiscal agents for the company.-V.88. IL 1313.
repairs and a sum equal to 5% on the entire amount of first mortgage
bonds of the Terminal Company at any time outstanding. The aforesaid
Milwaukee Electric Ry. & Light Co.-New Officer.James D. Mortimer has been elected one of the Vice-Presidents and also strip is leased to the Denver & Northwestern Ry. Co. for 99 years at an
Secretary of both the railway company and the Milwaukee Light, Heat & annual rental of $13,000, together with all taxes and assessments levied
Traction Co., to succeed C. W. Wetmore and Silas W.Burt, who were, re- against the property so leased.
The Denver Northwestern & Pacific By. Co. has sub-leased other port and Secretary of both companies, and who repe -PresIgn
r. Vjg
ri
spectively,
tions of the property to the Denver Laramie ec Northwestern By. Co. at a
rental of $36,000 per annum, and to eleven firms and corporations engaged
Minneapolis St. Paul & Sault Ste. Marie RR.-Dividend in mercantile, manufacturing and storage business still other portions of
property at an aggregate annual rental of $4,152.
Rate Increased from 6% to 7%.-The directors have declared theThe
amount payable by these present tenants, excepting the Denver
a semi-annual dividend of 33i% on the $20,832,000 common Northwestern & Pacific By. Co., as rental aggregates $53,152 per annum,
than 50% of the present interest charge on these bonds.
more
Pacific
or
the
s
by
i
Canadian'
stock, a majority of which owned
Terminal Company has outstanding $3,000,000 stock, all owned by
Ry. This increases the annual rate from a 6% to a 7% basis. theThe
Denver Northwestern & Pacific By. Co.
The Denver Northwestern & Pacific Ry. Co. owns and operates 211 miles
Dividend Record. 1903. 1904. 1905. 1906. 1907. 1908. 1909. 1910 (s.-a.)
3
o' railway, laid with 80-lb. rails and rock ballasted, extending from Denver
7
7
7
7
7
7
Preferred (per cent) 7
M
3
6
westward
through the Yampa, Colorado, coal fields to Steamboat Springs,
6
4
4
4
4
Common (per cent) 2
The present div. Is payable April 15 on stock of rec. March 25.-V.89, p.1668 Col., a territory exceedingly resourceful and without other transportation
facilities; traffic consists of cattle, lumber, coal and other minerals and
the
ande
lOg miles south of
aboutced
Missouri Kansas & Texas Ry.-Acquisition.----See Dallas agriculturaldproducts. The
IlesnortoftheenveroGr
inoniand about
Cleburne & Southwestern Ry. above.-V. 90, p. 54.
RR. It is the ultimate intention to extend the railway to Salt Lake City
and Salt Lake
Mobile & Ohio RR.-No Recent Dividend.-No dividend which will afford the company the short line between Denver
City, approximately 50 miles shorter than the Union Pacific and 164 miles
has been paid on the stock since the distribution of 23/2% shorter
than the Denver & Rio Grande.
on June 24 last.
[For first four months of current year,the Denver Northwestern do Pacific
As dividend payments have been made semi-annually for several years, By. Co. reports gross earnings, $407,205; net earnings available for interest,
it is supposed that the Southern By., which controls the road through $164,138; surplus, $18,271.1-V. 89, p. 994.
ownership of $5,670,200 of the $6,070,600 stock, has decided upon the policy
Pensacola Electric Co.-3% on Account of Cumulative
for a time of applying the earnings after providing for charges to the payment
for improvements. In 1908 4% was paid; in 1907 and 1906, 5% each; in Dividends.-The company has declared a second dividend of
1905, 4%;in 1904 and 1903, 2% each, and in 1898, 1%.-V.89, p. 1219.
dividends on the $300,000 6%
Kansas City Terminal Ry.-Bonds Sold.-The company
has sold $10,000,000 of its authorized $50,000,000 4%
50-year bonds to a syndicate consisting of Lee, Higgirison &
Co., J. P. Morgan & Co. and the Illinois Trust & Savings
Bank. Compare V. 90, P. 54; V. 89, p. 1671.
Lehigh Valley Transit Co., Allentown, Pa.-New Bond
Issue.-The stockholders will vote April 21 on making a
new $15,000,000 bond issue,to provide for refunding the existing bonds, for extensions, improvements, &c., as from
time to time required.-V.90, p. 167.
Louisville Ry.-Report.-For year ending Dec. 31:
3% on account of accrued
Nashville Ry. & Light Co.-Report.-For year end.Dec.31: cumulative preferred stock, payable March 1 to stockholders
Reserve Pref. div. Balance,
Net (after Int. on
Total
Cal.
Surplus. of record Feb. 18. This distribution reduces the amount of
Taxes). Bas.,,fcc. (incl.depr.) (5%)
Year- Earnings.
$51,513 $125,000 $139,631 dividends in arrears to 3%. Compare V. 89, p. 1142.
1909_ _ _ _$1,724,380 $710,497 $394,353
78,447
123,445
47,742
1908_ _ _ 1,597,030
393,099
642,733
-V. 88, p. 1062.
Pittsburgh & Allegheny Valley Ry.-Sale March 21.-The
New England Investment & Security Co.-Acquisition.- Safe Deposit & Trust Co., Pittsburgh, trustee uhder the
mtge. of July 15 1904, will offer the property at auction, free
See Pittsfield Street Ry. below.-V. 89, p. 1483.
New Orleans Railway & Light Co.-Time Extended to of all liens, at Kittanning, Armstrong County, Pa., on March
March 1.-Bertron, Griscom & Jenks have extended to 21, under decree of Court of Common Pleas of said county
March 1 the time for assenting to their proposition. See par- entered Jan. 22. There are $533,500 bonds outstanding.V. 90, p. 373.
ticulars in V. 90, p. 373.-V. 90, p. 445.
Pittsfield (Mass.) Electric Street Ry.-Sale.-The New
New York Connecting RR.-New Road and Bridge Connecting Long Island RR. and Penn. RR. with N. Y. N. II. & England Investment & Security Co. has secured a 30-days'
H. RR.-This company filed on Feb. 16 with the Public option on the majority holdings of the Dolan interest, conService Commission, First District, the property consents sisting, it is said, of $151,100 of the $300,000 stock.
The minority holders will, it is said, be allowed to dispose of their holdrequired under the franchise preparatory to construction.
ings on the same terms. $275 per share, the Doians receiving a bonus of
The road will be about 9 miles long, extending from a connection with the $75,000.
It is thought that the deal will probably be closed in about ten
Long Island RR. near the boundary line between the boroughs of Brooklyn
and Queens, through the latter borough to Astoria, thence crossing the East
River at a clear elevation of 135 feet to Randall's and Ward's islands, and
thence over Little Hell Gate and Bronx Kills into the Bronx, to a connection with the N. Y. N. H. & H. RR. near Its Oak Point yards, Port Morris.
It will also be connected with the New York tunnel extension of the Pennsylvania RR. Co. by a branch in Sunnyside yard.
[The road will be constructed by the Pennsylvania and the New York
New Haven & Hartford railroads, and it is said will cost about $15,000,000
and take two years to build.]-V.76, p. 1356.
days.-V. 86, p. 230.
Pittsburgh Shawmut & Northern RR.-Financing Extension.-See Pittsburgh & Shawmut RR. below.
Controlled by Hubbard-Byrne Interests-Mr. Hawley's Election.-Regarding the election of Edwin Hawley to the board,
a director is quoted as saying:
Mr. Hawley entered the board at the request of General Hubbard because
of their close business relationship [in the Hawley roads. Chicago & Alton
and Toledo St. Louis & Western] and because Mr. Hawley's railroad experience would be of value to the road.
Gen. Thomas H. Hubbard, Receiver Frank S. Smith and the estate of
John Byrne hold practically all the road's securities. Considerably more
than a majority is owned by Gen. Hubbard alone, and there is no reason to
suppose that he contemplates selling out. Authorization of $12,500.000
bonds by Pittsburgh & Shawmut RR. Co. foreshadows the removal of the
receivership of Pittsburgh Shawmut & Northern. The latter will be put
Balance, on its feet comparatively soon, and will be made a paying proposition.
Surplus. -V. 89, p. 847.
New York New Haven & Hartford RR.-New Director.George F. Baker has been elected a director, to succeed the
late. H. McK. Twombly.
Acquisition.-See Pittsfield Street Ry. below.-V. 89, p.
1597.
Northern Central Ry.-Report.-Year ending Dec. 31:
Cal.
Year-
Gross
Earns.
Net
Earns.
Other
Fixed
Income. Chgs.,&c.
Divs.
(8%)
12,264,769 2,252,614 1,374,677 1,024,294 1,547,400 1,055,597
1909
11,264,986 2,106,819 1,247,049 994,269 1,547.400 812,199
1908
Of the balance remaining in 1909 after payment on account of principal
($59,382), viz., $996,215, $800,000 was transferred to extratrusts
car
of
ordinary expenditure fund (against a similar amount of $600,000 in 1908),
leaving $196,215 to be transferred to the credit of profit and loss from the
operations of the year.-V.90, p. 237.
Northwestern Terminal Ry., Denver, Col.-Guaranteed Bonds 011ered.-Plympton, Gardiner & Co., New York
and Chicago, are offering at 92 and interest, to yield 53
4%
the unsold portion of the present issue of $2,025,000 first
mortgage 5% guaranteed gold bonds, dated July 1906 and
due July 11926, but redeemable on any interest date from
July 1 1911 to July 1 1916 at 105, and thereafter until maturity, at 1023/i and interest. Par $1,000 (c*). Principal
and interest, guaranteed by Denver Northwestern & Pacific
Railway Co. by endorsement on each bond.
Abstract of Letter from D. H. Moffat, President Denver Northwestern &
Pacific Ry.. Denver, Dec. 14 1909,
[Addressed to liallgarten & Co. and Plymplon, Gardiner ee Co., N. Y.]
These bonds are a part of a total authorized issue of $3,000,000, the remainder of the authorized issue being reserved for acquisition of additional
Pittsburgh & Shawmut RR.-Sale of Bonds on New Coal
Road to Form Extension of Pittsburgh Shawmut & Northern.Hallgarten & Co., New York, and associates, have purchased
the first $3,000,000 5% gold bonds issued under the mortgage
made late last year to the Central Trust Co., New York,
trustee, securing not exceeding $12,000,000 bonds. This
mortgage covers (1) the new line now under construction,
and to a considerable extent already completed, forming an
extension of the Pittsburgh Shawmut & Northern RR.from
Hyde, Pa., to Freeport,. Pa., near Pittsburgh, a distance of
102 miles; and (2) a majority of the $5,000,000 stock of the
Allegheny Mining Co. The bonds are dated Dec. 1909 and
will mature Dec. 1959, but are callable at 105; annual sinking fund $100,000, beginning Dec. 1914. The road will open
up what is described as "one of the largest and richest bituminous coal areas in Elk and Jefferson counties, Pa." After
the reorganization of the Pittsburgh Shawmut & Northern
RR. it is proposed to merge the properties, the same interests
being identified with both. See further particulars under old
504
TIIE CHRONICLE
name, "Brookville & Mahoning RR.," in report of Pitts.
Shawmut & Northern, V. 88, P. 1194; V. 89, P. 847.
Reading Co.-New Director.-George F. Baker of New
York has been elected a director of all three companies, succeeding the late H. McK. Twombly.-V. 89, p. 1598.
St. Louis Iron:Mountain & Southern RR.-Leases White &
Black River Valley RR.-See that co. below.-V. 90, p. 373.
Seaboard Air Line Ry.-Earnings.-Hambleton & Co.
of Baltimore in their weekly circular give the following figures,
which have been compiled by John L. Williams & Sons of
Richmond, Va., to show that the company is now earning
the interest on the adjustment (income) bonds issued under the readjustment plan of July 1 1909 (V. 89, p. 43):
Fixed A vailablefor
Years
Total
Gross
Net, after
taxes,
net income. charges. Adjust. int.
endingearnings,
Nov. 30 1909_519,345,407 $5,635,994 $5,765,944 $3,470,328 $2,295,616
Dec. 31 1907__ 18,833,499 3,219,871 3,318,640
The full Interest requirements at 5% on the $24,979,500 adjustment (income) bonds is $1,248,975, which would leave a surplus, after payment of
the adjustment interest on the basis of the earnings for the year ending
Nov. 30 last, of $1,046,641.-V. 90, P. 448, 168.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Amalgamated Asbestos Corporation, Ltd.----Bonds Offered.
-A large portion of the block of $7,103,000 1st M. 5s, out
of the total of $7,500,000 outstanding, having already been '
sold, the remainder is offered by advertisement on another
page by Cramp, Mitchell & Shober, Philadelphia, and Kitcat
1 flat, equivalent to about 90 and
& Aitken, London, at 91 A
interest. The company, it is stated, controls about 80%
of the output of the great Canadian asbestos districts in the
vicinity of Black Lake and Thetford. For the half-year
ending Dec. 1 1909 net earnings were $348,162; 6 months'
interest on $7,500,000 1st 5s, $187,500; balance, surplus,
$160,662. Unfilled orders Jan. 1 1910, $3,344,547.
Subscriptions will also be received by the following:
Equitable Trust Co. of New York, N. Y.; Penna. Co. for Insurances on
Lives & Granting Annuities, Philadelphia, Pa.; Bank of Montreal and
Canadian Bank of Commerce, Montreal, Can., and Bank of Scotland and
Manchester & Liverpool District Banking Co., Ltd., London, England.
For further particulars see the advertisement and V. 90,
p. 374, 169; V. 89, p. 1349.
ToledoiRailways & Light Co.-New Director.-William
American Can Co., New York.-Acquisitions.-A technical
B. Hale of Chicago has been elected a director and chairman
journal says:
of the executive committee, to succeed Barton Smith
The American Can Co. has purchased the plant of the Utica Industrial
This is done with a view to closer harmony between the protective committees of the bondholders and stockholders of the company. No reorganization plan has yet been arranged.-V. 89, p.105.
Co., Rome, N. Y., builders of can-making machinery, and is dismantling it.
The Union Can Co., an offshoot of the Industrial company, has also been
taken over, and will be continued with increased capacity. The American
company has acquired an Interest in various can-makingplanta whore the
Utica Industrial Co.'s machinery is In use.-V.90, p. 371.
Twin City Rapid Transit Co.-New Directors.-A. E.
Ames and Sir Henry M. Pellatt of Toronto have been elected
American Pneumatic Service Co., Boston.-Circular.directors, increasing the membership from 9 to 11.
Touching the plan to authorize $3,000,000 7% cum. first
Report.-For year ending Dec. 31:
YearGross.
Net.
Int. & Taxes. Dividends. Balance. pref. stock, about $1,500,000 thereof to be issued at present,
1909
$6,969,776 $3,675,149 $1,466,527 $1,265,250 $943,372 a circular signed by Pres. William H. Ames says in brief:
1908
6,399,510
3,233,454
1,359,363
1,215,000
059,091
Dividends include 7% ($210,000) on the pref. and 5% ($1,055,250 in 1909,
against $1,005,000 in 1908) on the com. From the balance as above there
was appropriated for renewal funds $703,000 In 1909, agst. $544,000 in 1908,
leaving a surplus of $240,372 In 1908, against $115,091 in 1907.-V. 90,
p. 111. 5-1. I
United Railroads of San Francisco.-Report.-For year:
GrossNet
r Cal.
Earnings.. Earnings.
Year$7,455,965 $3,213,316
1909
2,623,552
6,866,302
1908
-V. 89, p. 848.
Other
Income.
$174,126
123,271
Fixed
Charges.
$2,982,970
2,773,813
Balance,
Sur. or Def.
sur.$404,472
def. 26,989
United Railways of St. Louis.-Decision.-Judge Homer
in the State Circuit Court at St. Louis on Feb. 14 overruled
the demurrers of the company in the five suits brought by the
city to collect the one-mill per passenger tax. The amount
claimed to be due is reported to be "nearly $1,500,000."
The Court holds that the tax is not oppressive or unreasonable, nor a
double one, because a franchise tax on the street railroads has also been
imposed. Comnare V. 86, p. 1287; V. 88, p. 744; V. 90, p. 367.-V. 90,
p. 448, 367,
Wabash-Pittsburgh • Terminal Ry.-Application to Issue
Receiver's Certificates.-The receivers on Feb. 16 made application to the U. S. Circuit Court at Pittsburgh for permission to issue receivers' certificates to purchase .500 steel
hopper cars at a cost of $512,500. The hearing will take
place on Feb. 24.
Because of recent improvements in the mall tube business, and its present
profitable operation, your directors unanimously recommend the immediate
completion of the unfinished system in the city of New York and also in Chicago, providing satisfactory adjustments can be made as to the franchise
granted by the latter city. In arranging to finance these requirements, it Is
desired at the same time to eliminate the floating debt, amounting to some
$675,000. The funded debt is $5,000,000, of which $1,849,000 is outstanding, viz.: $1,112,000 held by the public, $135,500 in the sinking
fund and $601,500 pledged to secure the floating debt.
After the completion of the systems in New York and Chicago, the net
earnings may be conservatively estimated at an amount equal to approximately 6% on the present pref. shares (after paying7% on the new 1st pref.
shares), and these earnings, except as retained for working capital or other
purposes, will be available for dividends on the present pref. shares. In
arriving at this statement no consideration has been given to any increase
In the store service business of the Lamson Company, which, while for a
time not up to normal because of general business conditions, will continue
to grow, contributing to earnings applicable to dividends. Compare
V. 90, p. 449.
American Telephone & Telegraph Op.-Sale of Stock
by Mackay Companies.-See that company under "Annual
Reports.".
Settlement with Subsidiary.-See Missouri SS Kansas Telephone Co. below.-V. 90, p. 239.
American Water-Works & Guarantee Co. Pittsburgh.Amended Proposition-No Guaranty.-See West Penn Railways under "Railroads."-V. 90, p. 449.
American Writing Paper Co.-Report.-For year 1909:
The recetvers state in their petition that the company can earn $80,000 Cal.
Dieide
Balance, .ds
Total
Bond Exp.,incl. Sinking
this year by hauling coal to the lakes, and that if they can purchase these
Fund.
Paid.
Sur. or Del
Yr. Net Earns. Interest. Maint.
cars and place them in service other companies will loan them additional 1909_51,663,054 $850,000 $252,213 $100,000 (1%)$124,599 s
dur:$35
23516
6:2
242
cars to aid in increasing the earnings of the road. The receivers are anxious 1908_
ef.
965,073 850,000 270,289 100,000
to have the cars ready for service when the lake season opens, In April.- 1907_ 1,565,915 850,000 263,799 100,000 (2%) 249,410 sur. 102,706
V. 90, p. 169.
The dividend shown above in 1909 is that paid Oct. 1 1909. The same
amount has been declared payable April 1 next. Two dividends of 1%
Westchester Street RR., White Plains, N. Y.-New Se- each
were declared payable April 1 and Oct. 1 1007, but were paid June
curities.-The company, a reorganization of the Tarrytown 1908 after a favorable court decision and are here deducted from the 1907
White Plains & Mamaroneck Ry. controlled by the New figures.-V. 89, p. 472.
Associated Oil Co., San Francisco.-New Officers.-The
Haven road, has applied to the Pliblic Service Commission,
Second District, for authority to issue $900,000 stock and following changes in officers have been made as a result of
the acquisition of a majority of the stock by the Southern
$347,000 bonds.-V. 89, p. 1484.
Western Ohio (Electric) Ry.-Report.-For calendar years: Pacific Co. (compare V. 89, p. 1412):
Gross
Calendar
Earns.
Year$490,328
1909
441,791
1908
89, p. 667.
Operating
Expenses.
$264,590
246,171
Net
Earnings.
$225,738
195,620
Total
Deductions.
$184,851
161,541
Balance,
Surplus.
$40,887
34,079
Pres.-W.F. Herrin In place of J. A. Chansior, who remaIns,a director.
Four New Directors.-John C. Kirkpatrick, R. P. Schwerin (Vice-Pres.
and Gen. Man. of the Pacific Mail SS, Co.), Rudolph Herold Jr. and Paul
Shoup (of the Southern Pacific law dept.).-V.89, p. 1412.
Atlantic Gulf & West Indies Steamship Co.-New DirecWest Penn Rys.-Amended.-A Philadelphia paper says: tors.-Hubert E. Rogers of New York and former Governor
The American Water-Works & Guarantee Co. has submitted an amended John F. Hill of Augusta, Me., have been elected to the board,
proposition to the stockholders of the West Penn Railways Co. to be acted
enthe annual meeting next week. The new preposition is that the increasing the membership from five to seven.-V.90, p. 374.
upon
s r
Penn Traction Co. be formed with $5,000,000 pref. stock and $6,500,Bell Telephone Co. of Pennsylvania.-Report---For year:
000 common to include the West Penn lines, the West Penn Electric Co.
(V. 80, p. 1922), the McKeesport & Greensburg CoJmeaning, presumably
the Pittsburgh McKeesport 8c Greensburgh By. Co., controlled by West
Penn Rys. Co. See p. 96 of "Electric Railway Section."-Ed. "Chronicle."], and other smaller companies. The plan is to exchange the $3,250,000
common stock of the West Penn Rys. Co. for 50% pref. and 100% common
of the new. The proposition by which the American Water-Works &
Guarantee Co. will guarantee 5% dividends on the new pref. stock for 21
years has been withdrawn in the new proposition [Under the plan referred
to last week the capital stock of the new company was to be $11,625,000,
consisting of $10,000.000 common stock and $1,625,000 5% cum. pref.
stock,with theaforesald guaranty; the existing $2,750,000 5% non-cum. pref.
of the West Penn Rys. to be left undisturbed.] Compare V. 90, p. 448.
White & Black River Valley RR.-Lease Assigned to Missouri Pacific System.-The lease of the road which expires
July 1 1980, now held by the Choctaw Oklahoma & Gulf
(Rock Island system), has, it is stated, been assigned to the
St. Louis Iron Mountain & Gulf, subject to the approval of
the W. & B. R. Val. stockholders at their annual meeting
in March. See Choc. Okla. & G. report, V. 72, p. 189.
Wisconsin Central Ry.-No Further Dividends at Present.The last quarterly disbursement, 1%, of the 4% annual
dividend on the non-cumulative preferred stock was paid
on Oct. 15 last.
It is generally understood that the Minneapolis St. Paul & Sault Ste.
Marie, which now operates the road under lease, and also holds control
through stock ownership, will not make any further distributions for a time,
but will apply the surplus earnings over charges towards the improvement
of the property. The earnings for the first 5 or 6 months of the present
fiscal year, beginning July 1 last, were, It is stated, sufficient to pay the
4% dividend for the entire year.-V. 89, p. 1143.
Worcester Nashua & Rochester RR.-Proposition to Purchase Control.-See Boston & Maine RR.-V.81, p. 1794.
CalendarGross
YearEarnings.
1909
$11,896,032
11,434,520
1908
.. Net
Earnings.
$3,308,852
3,454,081
Interest.
$254,619
278,761
Dividends
(6%).
$2,493,000
2,387,421
Balance,
Surplus.
$561,233
787,890
Decision.-See Consolidated Telephone Co. of Pennsylvania below.-V.89, p. 227.
Canadian Car & Foundry Co., Ltd.-Purchase of Canada
Car Co.-See Pressed Steel Car Co. under "Annual Reports."
-V. 90, p. 374, 170.
Central Foundry Co., New York.-Receivership.-On Feb.
12, in involuntary bankruptcy proceedings brought by
A. Lea Everett, representing the Vinton Colliery Co. and
other creditors, whose claims aggregate $12,000) Judge
Hough in the United States District Court, acting, it is understood, with the approval of the company, appointed Waddill
Catchings, 49 Wall St., as receiver for the property and
authorized him to borrow up to $200,000 as may be necessary to continue the business.
Besides the $3,863,000 debenture bonds there is outstanding some $345
000 secured. and $540,000 unsecured, indebtedness. According to curren
street talk the $1,000,000 or more required to put the company on its fee
may be raised by an assessment on the stock, a new security of some kind
to be given to represent the new money.
In 1908 the Central Coal & Iron Co.(controlled) sold $1,000,000 of an
issue of $2,000,000 first mortgage 6s.
The comPresident August Heckscher has issued a statement saying:
pany for some time has been handicapped In the transaction of its growing
business by lack of adequate banking facilities and working capital. The
result Is embarrassment, which we believe to be temporary. United action
on the part of creditors and shareholders can promptly make effective a reorganization which will admit of large economies and better earnings"
FEB. 19 1910.]
THE CHRONICLE
Notice to Debenture Holders:and AllOtherCreditors.-A protective committee requests, by advertisement on another
page, that holders deposit with the Central Trust Co., 54
Wall St., N. Y., under agreement dated Feb. 16 1910, all
debentures and other claims and evidences of indebtedness,
for mutual protection. Copies of the agreement will be
ready for distribution Feb. 21.
The committee consists of J. N. Wallace (Chairman), C. D. Smithers,
P. J. Goodhart and August Heckscher, with Franklin L. Babcock, Secretary, 54 Wall St., N. Y. City, and Joline, Larkin & Rathbone and Byrne &
Cutcheon as counsel.-V. 88, p. 820.
Childs (Restaurant) Co., New York.-Stock Increase Approved.-The stockholders on Feb. 18 approved the increase
in pref. stock from $2,000,000 to $3,000,000.-V.90,p. 375.
Cleveland (0.) Electric Illuminating Co.-New Stock.Of the new stock recently authorized, only $500,000, we are
informed, is likely to be issued this year, probably some
months from now, the same to be offered to shareholders at
par. The new plant on the lake shore will have an imme:late capacity of 50,000 h.p.-V. 90, p. 375, 305.
Consolidated Indiana Coal Co.-New President-Operations.-H. U. Mudge, President of the Chicago Rock Island &
Pacific Ry., has been elected President.
This follows as a result of the sale of the St. Louis & San Francisco by
the Rock Island interests. The company will hereafter market its own products, which have heretofore been handled by the Brazil Block Coal Co.,
82, p. 1499.
the latter being controlled by the Chicago & Eastern
Consolidated Telephone Companies of Pennsylvania.-Decision.-The State Railroad Commission of Pennsylvania on
Feb. 12 held that the exclusive contract between the Bell
Telephone Co. and the State Bell Telephone Co. of Slatington, Pa., is illegal, and recommended an interchange of local
business between all the companies.-V. 87, p. 418.
Continental Can Co., Syracuse, N. Y., &c.-New PlantContract.-The "Iron Age' of Feb. 2 said:
The Continental Can Co., which now manufactures tin cans at Syracuse,
N. Y., Baltimore, Md., and Chicago, has started the erection of a new
can factory, 82x250 feet, near the plant of the Standard Tin Place Co. at
Canonsburg, Pa., to take care of the Central Western trade, and also for
making a new patented sanitary can. The making of cans will start about
June 1, consuming about 100,000 boxes of tin plate per year, all of which
will be furnished by the Standard Tin Plate Co. This latter company now
operates 10 hot tin mills at Canonsburg, with an annual capacity of 750,000
boxes of tin plate.-V. 89, p. 1670.
505
Dividend No. 1, also M of 1%, was paid Oct. 1 1907. Compare V. 85, p. 724; V. 89, p. 1481.
Hudson River Electric Power Co.-Circular.-The bondholders' committee for the associated companies, in a circular dated Feb. 10, says in substance:
The eight companies are in the hands of one set of receivers, George W.
Dunn, Charles W. Andrews and Milton Delano, appointed by the United
States Circuit Court. The receivers have been successful in reducing the
expenses of operation. The steam plant at Utica, which had failed to earn
operating expenses within 10%, has been leased to the Utica & Mohawk
Valley By. at a reasonable profit.
The complicated legal situation has been progressing satisfactorily and
as speedily as possible under the circumstances. Judgment has been
rendered against the Hudson River Water Power Co. in favor of the National Contracting Co. for $310,036, not including costs; the original judgment was $556,000. An appeal has been taken (V. 89, p. 1545). The
suit against the General Electric Co. (see V. 88, p. 228) is now in progress,
and it is expected that the trial will be completed within the next 60 days.
The final arguments in the suit against the United Traction Co. of Albany
(compare V. 88, p. 229) will be made during February; If appealed, case
cannot be argued until next fall. These suits aggregate about $860,000.
Under the authorization of the Court, an inventory has been made of the
physical parts of all of the properties, and this replacement value is given
at $7,117,698. Carrying out the recommendations made by Stone &
Webster (V. 88, p. 228), the dam at Spier Falls has been completed, considerable work has been done on the intake canal at Spier Falls and some
repairs on the dam at Mechanicville.
The companies have not made a particularly good showing in earnings
and operating expenses during the past two years, owing to continued low
water, this year being even worse than last year. This has necessitated the
purchase of large amounts of steam-generated power at high prices. The
combined net earnings for the year ending June 30 1909 have been at the
rate of about $365,000, without any allowance for depreciation or any
interest charges, these latter alone amounting to $587,000. To have
attempted more business would have, with the continued drought, required
the purchase of more outside power and still further decreased net earnings.
As soon as the pending litigation is cleared up and foreclosure proceedings
have been attended to, your committee will present a plan; meanwhile it
feels that the whole matter is moving ahead as rapidly as possible.
[The committee consists of James R. Hooper, Chairman, Robert Treat
Paine 2d, Edwin S. Webster, John S. Scully, Wilson A. Shaw and Charles
E. Willock. with John P. Reynolds, Secretary, 50 State St., Boston.
Depositaries: The New England Trust Co., Boston; Standard Trust Co.,
N. Y.; Fidelity Title & Trust Co., Pittsburgh; National Trust 00., Montreal.] Compare V. 88, p. 228.
Inland Steel CO., Chicago.-Bonds, Earnings, &c.Eversz & Co., Chicago, recently offered at the market price
a block of the first M.6% bonds, dated April 1 1908, maturing serially $150,000 per annum on April 1 1909 to 1928.
Total authorized issue, $3,000,000; canceled to date, $150,000; outstanding, $2,850,000. A circular shows:
Courtney Co., Charleston, W. Va.-Lumber Bonds Offered.
-Peabody, Houghteling & Co., Chicago, are offering at par
and interest $300,000 1st M. 6% serial gold bonds, guar.,
p. & i., by D. G. Courtney. A circular says:
Actual cash investment in properties, $7,668,203; net cash and quick
assets June 30 1909, 82,091,025; aggregate security for the $2,850.000 outstanding bonds, $9,759,228.
SurplusEarnings for Years ending June 30,After AU Charges(V. 88. p. 155)
1905-06.
1908-09.
1906-07.
1907-08 (panic).
$651,842
$860.766
$865,259
$984,323
Dividends of 7@ per annum are being paid on the $6.000,000 capital
stock (book value approximately 130).-V. 88, p. 1316, 161.
Total auth. Issue, $500,000 (reserved for additional timber lands with
approval of firm, $200,000), dated Jan. 3 1910, payable in semi-ann. series
(4 of $37,500, 4 of $40,000, 2 of $60,000, 1 of $70,000), Jan. 1 1911 to 1916
but callable in reverse of numerical order on or after July 1 1910 at 10234
and int. Par $500 and $1,000 c". Prin. and in (J. & J.) at office of
P. H. & Co., Chicago. Northern Trust Co., Chicago, and James L. Houghteling Jr., trustees. Issued to retire floating debt and add to plant and
working capital. A first mortgage on 20,754 acres of land and 165,000,000
feet of merchantable hard-wood timber located in Lincoln, Boone and Raleigh counties, W. Va., saw-mill, railway, rolling stock and logging equipment. Valuation: Land and timber, $927,040; railway, mill and logging
equipment, $75,000; net current assets, over $400,000; total, without allowance for valuable coal and mineral rights, $1,402,040. Sinking fund to pay
off entire principal with exhaustion of less than one-third of the timber.
International Silver Co.-Extra Dividend.-The directors
have declared on the pref. stock ($6,028,588) a quarterly div.
of 13
4% and an extra div.of IA of 1%, total, 2%, payable
April 1 to stockholders of record Feb. 23, comparing with
1% and M of 1% extra, total 13%%, paid Jan. 3 last, and
with 13'% only in October, July and April last and 1% in
January 1908. Compare V. 89, p. 1485.
Jones & Laughlin Steel Co.-New Plant.-The second furnace of the new plant at Aliquippa, Pa., was started Feb. 14.
Cuyahoga Telephone Co.-Report.-For year 1909:
Calendar
Gross Exp.,Taxes
Net
YearEarns. & Reserves. Earns.
1909
$852,302 $479,829 $372,473
1908
828,009
448,431
379,578
-V. 90, p. 112.
The first furnace was put in operation Jan. 1, and the third will be ready
about March 15. Each furnace has a capacity of 500 tons.-V.89, p. 596.
Bond
Div. on Balance,
Interest. Pref.Sift. Surplus.
$154,408 $86,241 $131,824
158,037
135,300
86,241
Juniata Water & Power Co.-Description of Property.See illustrated article in "Electrical World" of New York
for Jan. 20 1910. Compare V. 90, p. 306.
Dayton (Tex.) Lumber Co.-Notes'Offered.-Francis,Bro.
Lackawanna Steel Co.-New Director.-William K. Van& Co., St. Louis, are offering at par and int., $60,000 6% derbilt Jr. has been elected a director to fill a vacancy.
serial notes, dated 1906, a first lien on entire plant., &c.
New Bonds-Right to Subscribe.-The directors have apTotal issue, $262,500; matured and paid, $115,000; paid and canceled, proved the form of mortgage to secure the $10,000,000 5%
1912-13 maturities, $17,500; outstanding, $130,000. Issue due $2,500
each month to Dec. 1 1914. Originally a first lien on 105,000,000 ft. of first consolidated mortgage convertible gold bonds, Series
timber at Dayton. Texas, on Trinity River, about 30 miles east of Houston "A," and the form of the trust agreement,under which will
(75% short-leaf yellow pine-25% white oak); cut, about 25,000,000 ft.;
5% convertible gold debentures.
remainder 80,000,000 ft.,security for outstanding $130,000 notes, or $1 62 be issued $10,000,000 5-year
per 1,000 ft. Endorsed by L. Fouts, Dayton, Texas, and L. T. Walker,
AN. P. Bigelow and Bigelow Bros. & Walker Co., Chicago.
Esmond (R.I.) Mills.-Pref. Shares Offered.-A.B. Turner
& Co., Boston and New York, are offering at par ($100
share) a limited amount of the 6% cumulative pref. shares,
divs. payable Q.-F., preferred as to assets as well as earnings.
To retire its outstanding bonds ($250,000), provide additional working
capital, and for additional machinery, the Esmond Mills will issue $650,000
pref. and $100,000 additional common stock. The common shares have
been taken at par by the management, and with the sale of the pref. shares
the company will have outstanding $650,000 pref. stock and $555,000 of
its $600,000 com. "The company owns and operates the only complete
fine cotton blanket mill in the United States. When the additions are complete, the capacity will be in excess of 1,300,000 blankets per year. The
earnings, after paying all charges and expenses, are equivalent to more
than twice the dividends upon the pref. shares." President, Clarence
Whitman; Treasurer, Harold C. Whitman. Now a Mass. corp.-V. 84,
p. 1309.
These are the securities for which, per plan of Jan. 20 1910(V.90, p. 240),
the holders of the $35,000,000 stock now have the privilege to subscribe,
on or before Feb. 24 1910, to an amount as to each class of bonds equal to
two-sevenths of the par value of their respective stock holdings at 85%
for first consol. 5s (tax-exempt in New York State) and at 95% for the
5% debenture bonds. Speyer & Co..have agreed to purchase any of the
$20,000,000 bonds not subscribed for. The rights to subscribe for the new
bonds have been dealt in actively on the curb for several days.
Application will be made to list the common stock of the company on
the New York Stock Exchange.-V. 90, p. 240, 170.
Lancaster Mills, Boston and Clinton, Mass.-New Stock.The $400,000 new stock authorized on Thursday is offered
to holders of the present $600,000 stock of rec. Feb,17 at par,
$100 a share, to the extent of 2 new shares for every 3 shares
of their respective holdings, subscriptions payable 25%
March 31, 25% June 1 and 50% Sept. 1. Dividends in 1908
4 years' intermission) and since, 6%
(when resumed after 33
Fisk Rubber Co., Chicopee, Mass.-Re-incorporation- yearly, Q.-M. No bonds.-V.83, p. 627, 496.
Stock Increase.-The "Boston Financial News" Feb. 9 said:
Lehigh Coal & Navigation Co.-Report.-For fiscal years:
The capital stock of the Fisk Rubber Co. of Chicopee Falls, has been inInterest, Sink. Fund & Dividends
Gross
Balance,
creased from $600,000 to $4,000,000, $2,000,000 of pref. stock and an equal Fiscal
(8%).
Taxes, &c. Depreciation.
Revenue.
YearSurplus.
amount of common. The company has been reincorporated under the
$73,660
$1,314,321
$1,813,976
8452,685
$3,654,543
laws of Delaware. The officers remain the same. H. T. Dunn, Pres.; 1909
1,396,154
449,611
4,127,936
1,457.648
824,522
A. N. Mayo,
and H. G. Fisk, Sec., all of this city. It is reported 1908
1,380,957
406,800
4,142,282
966,921
1,387,604
Treas..of pref. stock represents the actual assets to be turned 1907
that the $2,000,000
over by the Massachusetts corporation to the Delaware corporation. The -V. 90, p. 450, 55.
Total surplus Dec. 31 1909, after deducting 15% scrip dividend ($3.150,$2,000,000 of common stock is said to represent the patents, patent rights
and organization.
412) paid March 1 1910 (V. 90, p.55) and cost of Summit Hill fire (1470.505) and sundry adjustments, was $748,202, against $4,294,163 in 1908.
General Chemical Co.-New President.-Sanford H. Steele
Management Approved.-Referring to the Clawson circular
has been elected President, succeeding Edward H. Rising,
and the latter has been made First Vice-President in place of (V. 90, p.450), George H. Earle Jr., a voting trustee, says:
. I understand that the management has already received proxies for a
Mr. Steele.-V. 90, p. 369.
majority of the stock not in the voting trust, and my information also is
every member of the voting trust concurs with that majority in
Harbison-Walker Refractories Co., Pittsburgh.-Divi- that
believing that there should be no change in the board at this time. Speakdends Resumed on Common Stock.-The company has de- ing for myself. I do not think that a more [able and honest management
that of Mr. Lathrop could be possible. What the company wants, in
clared dividend No. 2, V2 of 1%, on its $18,000,000 common than
may judgment, is peace and continuance of the conditions that have enabled
stock, payable March 1 to stockholders of record Feb. 19. Mr. Lathrop to make his magnificent returns to the security holders.
[President Lathrop himself characterizes recent criticisms of certain of
the directors as unworthy of attention, and states that the board is a unit
in favor of continuing the policy of developing the earning power of the
property. Mr. Lathrop believes that it is most desirable for the best
interests of the company that there should be a renewal of the voting trust,
as recommended in the letter to stockholders issued by order of the board
Nov. 27 1909.] Compare V. 89, p. 1486; V. 90, p. 450, 55.
MacArthur Bros. Co. of New Jersey.-Dividend.-The
directors have declared a regular semi-annual dividend of
332% on the preferred stock, payable March 1 to holders of
record Feb. 18. See full statement, V. 90, p. 377.
Manufacturers' Light & Heat Co., Pittsburgh.-Report:
Balance,
New
Gross
Other Interest,
Net
Cal.
Earnings. Earnings. Inc. Disc.,&c. Wells,&c. Surplus.
Year$2,006,789
$5,336,423 $2,648,778 83,641 $645,629
1909
4,709,026 2,823,112 _ ___ 767,608 $204,497 1,851,006
1908
From the surplus as above in 1909, 82,006,789 was deducted $1,622,577
for depreciation, leaving $384,211 carried to credit of profit and loss. The
total surplus on Dec. 31 1909 was $1,032,657, after deducting $5,780,760
for depreciation of prior years and $24,943 for adjustments.-V.89,p.1144.
Maryland Coal Co.-Report.----Report for calendar year:
1909.
$28,302
Net profits
Div. on pref. stock (%)_(2 M)47,117
[VoL. Lxxxx.
THE CHRONICLE
506
1908.
$91,454
(5)94,235
1907.
$595,673
(8)150,776
1906.
$155,630
(8)150,776
Bal. surp. or def_ _def_$18,815 def.$2,781sur .$444,897 sur.$4,854
net profit as above in 1909, $28,302, is that given in a leaf inserted
The'
in the annual report by the new board of directors, who say that the statement of the old board, showing the net profits as $72,659, and the surplus
after dividends as $25,542, "is Incorrect and misleading."-V. 90, p. 377.
for which the company has duly authorized water rights. Construction
work is now in progress which will make the capacity of the plant 114,000
h.p. before the close of the present year.
Horse-power sold and paid for, showing growth of business: December
1907, 18,543; December 1908, 32,477; December 1909, 50,678. It is
expected that the sales in 1910 will average 55,000 h.p., producing net
earnings of about 5425,000, or $175,000 more than the annual int. on bonds.
See further particulars In V.88,p.1317,and late earns, in V. 90, p. 306, 171
Niagara Falls Power Co.-Report.-For calendar year:
Taxes, Balance,
Other
Net
Gross
Bond
Calendar
Surplus.
&c.
Earnings. Earnings. Income. Interest.
Year51,952,349 $1,521,051 $134,078 $1,045,815 $154,820 $454,494
1909
88,705 1,045,788 144,949 157,291
1,681,941 1,259,323
1908
-v. 90, p. 240.
North Georgia Electric.-Sale May 2.-This bankrupt
company's property, it is stated, will be offered for sale May 2.
Director H. H. Dean has been made receiver. The company
is said to control the Gainesville Electric Ry.-V. 88, p.56.
North Platte Valley Irrigation Co. (of Wyoming).-Bonds
Offered.-Pingree, McKinney & Co., Boston, own, and are
offering at par in New York and New England a block of the
"first mortgage and collateral trust" 6% gold bonds, datei!
July 15 1909, issue limited to $2,000,000, fully described in
V. 89, p. 998.
Nova Scotia Steel & Coal Co., Ltd., New Glasgow, N. S.Report.-For calendar years:
Massachusetts Cotton Mills, Boston and Lowell, Mass.- Calendar Profits
Balance,
Int. on Dep., Sink. Pref.Div. Common
Dividend. Surplus.
Year- for Year. Bonds,&c. Fund,&c. (8%).
New Stock.-An increase in the share capital from $1,800,000 1909
(1)560,000 $117,585
$907,949 5277,837 $370,127 $82,400
stockeach
14,
Feb.
authorized
to $3,000,000 having been
16,617
82,400 (13)74,814
279,220
281,650
1908
734,701
Total surplus Dec. 31 1909, after deducting the 20% stock dividend
holder of record Feb. 14 is entitled to subscribe at par, $100
declared (V. 89, p. 1486), was $336,807,again t
recently
($1,000,000)
Co.,
Trust
England
New
per share, until noon March 5 at
$1,219,221 on Dec. 31 1908.
135 Devonshire St., Boston, for two shares of new stock for,
New Directors-Second Quarterly Common Dividend.him.
by
every three shares of stock now held
Rodolphe Forget, M.P., and two of his associates in the synsuch
Subscriptions are payable at said trust company 25% March 5, or
dicate which recently purchased a large block of the stock,
larger amount as will pay in full for the nearest number of whole shares,
of the present directors
certificates for which will then be issued; and 25% July 1 1910 and 25% will, it is stated, shortly replace three
Oct. 1 1910 and 25% Feb. 11 1911. Stock certificates representing the last who will retire. A second dividend of 1% on the ordinary
three installments will be issued on or about Feb. 11 1911; these three shares has been declared, payable April 15 to holders of recinstallments may be prepaid at any time, in which case interest will be
pald thereon at 4% until Feb. 111011. Dividends,8% per annum, F.& A. ord March 31, 1% having been also paid on Jan. 15. (ComNo bonds. Pres.. Arthur T. Lyman; Treas., Edward Lovering.
pare V. 89, p. 1486).-V. 89, p. 1599.
Massachusetts Lighting Companies.-Consolidated OperO'Gara Coal Co.-$85,000 Bonds Called.-We are informed
31:
Dec.
ending
Year
for
Account
ating
Net
Interest
Net
that the $19,000 first 5s recently advertised as called for
Oper.Exp.&
Net
Calendar
Profits.
Charges.
Income. Management. Earnings.
Yeardrawn this year
$226,429 payment was only the portion of $85,000
$74,109
$300,538
$540,108
5840,646
1909
171,583 that had not been presented for redemption.-V. 90, p. 450.
85,547
257,130
494,620
751,750
1908
-v. 88, p. 1625.
Pennsylvania Canal Co.-Status.-The "Philadelphia
Mexican Light & Power Co., Ltd., Toronto.-New Stock, News Bureau" Feb. 10 says:
&c.-The shareholders voted Jan. 20 to approve by-laws inCanal 6s are $40 bid for a $1,000 bond. The bonds mature
creasing the capital stock by the addition of $3,600,000 of in Pennsylvania
July and they have a $30 coupon on them, which will be paid as the interover
preference stock and $5,400,000 of ordinary stock, making in est is guaranteed by the Pennsylvania RR. The Pennsylvania owns loan.
$1,000,000 unpaid coupons which come ahead of the principal of the
all $6,000,000 pref. stock and $19,000,000 ordinary stock.
[At auction in Phila. Feb. 9 a $1,000 bond sold for 545.-Ed."ChronThe Chairman of the meeting announced that the company had recently
purchased the entire capital stock of the Compania Electrica e Irrigadora del
Estado de Hidalgo, S. A. Pachuca, and that the transmission lines of the
Mex. L. & P. Co. Ltd., would be extended to the Pachuca mining disabout 30 miles, to supply the further demand for power
trict, a distance of'
from the Necaxa plant. The Compania Electrica has a hydraulic-electric
plant of its own of 12,000 h.p., is supplying about 7,000 h.p.. and has additional business insight "amounting to at least 6,000 h.p." The 50,000 h.p.
addition to the plant of the Mexican Light & Power Co. to be completed
this year, will increase the latter's capacity to 100,000 h.p.-V.89, p. 1599.
People's Ice Co., Detroit.-Bonds Offered.-Peabody,
Houghteling & Co., Chicago, are offering at par and interest
$100,000 first mortgage 6% serial gold bonds, guar. p. &
by endorsement by Pres. D. A. Brown. A circular shows:
National Refining Co., Cleveland.-New Stock.-The
shareholders have voted to increase the authorized preferred
stock from $3,000,000 to $4,000,000. Compare V. 90, p.240.
Nebraska (Bell) Telephone Co.-Report.-For cal. years:
Calendar
Gross
YearEarnings.
1909
$1,170,969
1908
1,105,443
-V. 88, p. 1558.
lele."]-V. 78, p. 824.
A closed first mortgage dated Jan. 3 1910. Due in series (2 of $10,000.
4 of $15,000, 1 of $20,000) on Jan. 1 1911 to 1917. Par $1,000 and 5500
Prin. & int. (J. & J.) payable at office of P., H. & Co. James L. Hough.
Missouri & Kansas (Bell) Telephone Co.-Settlement with teling Jr., trustee. Issued to retire floating debt and increase plant
inland lake of 100 acres, two ice houses, &c., and artificial ice plant
Parent Company.-Pres. Charles S. Gleed on Feb. 17 wired Cover
capacity 200 tons a day) In Detroit. Total assets, $425,744. Profits for
the "Boston News Bureau":
11 months ending Nov. 30 1909, $57,766, after charging oft $12,962 for
The company has arranged with the American Telephone & Telegraph depreciation and equipment.
[On Feb. 1 1903, with total investment of $8,500, had 3 wagons, 1 deCo. whereby the parent company will take $10,000,000 or $12,000,000 stock
station and 8 employees, and sold 3,000 tons of ice. In Feb. 1909,
of the Missouri & Kansas Co. In liquidation of a like amount of floating livery
when
placing $100,000 7% preferred stock, reported as of Dec. 31 1908
probIs
It
debt of the Missouri & Kansas now held by the American Co.
able that eventually American Telephone will take enough more M. & K. investment $358,000, wagons 65, delivery stations 6, employees 195, ice
stock to enable that company to free itself entirely of its present floating sold 55.000 tons.-Ed.]
debt. A special meeting of stockholders will be called shortly to authorize
Providence (R. I.) Gas Co.-Price of Gas to Be Reduced.the increase in capital stock.
[The "News Bureau" adds: "On Dec. 31 1908 Missouri & Kansas had Beginning April 1 the company will reduce its prices for gas
outstanding $3,627,700 capital stock and a floating debt which was increased from $1
with 5-cent discount, to 95 cts. with 5-cent discount.
to about $15,000,000 during' 1909. Inasmuch as American Telephone is
now receiving interest of about 6% on the M. & K. notes, which it holds,it The company's present 20-year franchise expires in 1912.is believed that the conversion of these notes into stock foreshadows the V. 88, p. 1442.
early resumption of dividends on' M. & K. stock. Up to February 1907
the company paid dividends at the rate of 6%." Compare V. 88, p. 1556.
Net
Dividends
Balance,
Gross
Calendar
Earnings.
Surplus.
Earnings.
(6%).
Year$277,129
$275,268
$1,918,123 $ 552,397
1909
479,498
274,785
204,713
1,852,191
1908
From the surplus as above in 1909, $277,129, there was added to reserve
for depreciation $262,203, leaving $14.926. The total surplus on Dec. 31
1909, after making certain adjustments, was 51,132,310.-V. 88, p. 1556.
Niagara Lockport & Ontario Power Co., Buffalo, N. Y.
Bonds Offered.-William Salomon & Co., New York and
Chicago, and E. H. Rollins & Sons, New York, Boston,
&c., are offering for sale,at 93 and interest, yielding 5.38%,
the unsold portion of a block of $1,000,000 1st M.5% sinking
fund gold bonds, closed mortgage, tax-exempt in New York
State, due Nov. 1 1954. but callable at 110 and int. Authorized, $5,000,000; outstanding, $4,973,000. Retired by
sinking fund, $27,000.
Providence Telephone Co.-Report.-For calendar years:
Net
Earnings.
$292,487
287,172
Dividends
(8%).
$240,000
210,000
DepreciaLion, &c.
40,000
Balance,
Surplus.
$52,487
37,172
Pullman Co.-Statement as to New Stock Issue.-VicePresident Runnels is quoted:
The new stock distribution is based entirely on accumulated surplus,
certain reserve funds which are available and current earnings. There is
no reason why fully halt the distribution should not be from the surplus. 4
The reserve items come from various sources, all In the manufacturing
department; for instance, we decided to discontinue carrying our own
insurance, as plant expansion made the risk-too heavy. The insurance
reserve aggregates $2,000,000. Besides this we have a considerable
reserve in building account available for distribution; we also have reserves
in other account., every item of which Is justly charged to capital. 44rt
Current earnings are large, orders for equipment have been substantial,
and we expect three to five years' high pressure business because the rail4
roads must get cars.
Our passenger plant is busy on steel under-frame cars, and it-will iturn
out 20 to 30 all-steel cars monthly for the Pennsylvania. Thernew,isteel
freight-car plant will start operation in April. This plant comprises Jour
1,100-ft. shops. We are employing between 9,000 and 1O,000,men at
Pullman as against 11,000 maximum in 1907. We expect to.employ
15,000 before the end of the year. The sleeping-car business was operated
at a maximum volume last year, but owing to decline in travel there.has
been a slight falling off from this level. Compare V. 00, p. 451. AI 4 49 di
Abstract of Letter from President Francis V. Greene, Feb. 10 1910.
These bonds are a direct first mortgage on the entire property, the cash
cost of which, about $7,300,000, represents an equity junior to these bonds
of $2,300,000. Includes:(a) 209 miles of right of way owned In fee, aggreQuaker Oats Co., Chicago.-Stock Increase.-The sharegating 3,806 acres, viz.: Niagara River to Syracuse, 164 miles; Lockport
to Lackawanna (near Buffalo), 27 miles, and branches, 18 miles; (b) right holders will vote March 11 on increasing the common stock
of way under lease, &c., principally along railroads, 149 miles;(c) duplicate from $4,500,000 to $5,500,000, to provide for newIcereal
transmission lines Niagara River to Syracuse and Lockport to Lackawanna,
equivalent to single line of 361 miles; (d) branch lines, 90 miles; (e) switch- mills, improvements, &c.
ing and transferring stations and private telephone system. The system
Report.-For fisca years ending Dec. 31:
as now constructed is capable of receiving 60,000 h.p. at the Niagara River
l Balance,
Depreciation &
Dividends
Net
and distributing it through the territory paralleling the New York Central Calendar
Paid. fix Surplus.
YearConstruction.
Profits.
RR. from Lackawanna to Syracuse.
$493,272
1
$162,027
1909
the
3381,805
from
Ontario
obtain
to
War
permit
of
a
$1,537,104
has given us
The Secretary
101,728
869,410 I'M
154,610
1,125,748
Power Co. of Niagara Falls and bring into the United States 60,000 h.p., 1908
I
and said company has contracted to deliver this amount of power to us. -V.90, p. 451.
The generating plant of the Ontario Power Co. has a present capacity of
68,000 h.p. and is designed for the :ultimate generation of 200,000 h.p.,
For other Investment News see page 508.
507
THE CHRONICLE
FEB. 19 1910.]
geports ana -Pornintnts.
E. I. DU PONT DE NEMOURS POWDER COMPANY.
ANNUAL REPORT FOR THE FISCAL YEAR ENDING DECEMBER 31 1909.
To Stockholders of E. I. du Pont de Nemours Powder Co.:
Gentlemen-The 108th year of our history has brought
to us a larger volume of business than that of the year preceding, though the record of the year 1907 has not been
reached. However, as in the year 1908, we have been able
to increase profits through the continuance of a better organization and system than we had been able to develop
in the earlier period. The economies introduced after the
panic of 1907 have continued to bear fruit, and as new expenditures were considerably curtailed, our increase in
profits has been accompanied by a very large increase in
cash balances. Though the profits of the Company have
increased during the year, we believe that they are far from
being unduly large. Since the reorganization of our Company in August 1903, we have re-invested in new factories
and in the general development of business the substantial
sum of $13,811,908 85, as shown on the balance sheet. In
addition to this, the property has been further increased
through the sale of $3,437,000 common stock. This large
increase in investment, aggregating $17,248,908 85 (an
amount equal to approximately $61 50 on each share of
common stock now outstanding), is entitled to a proper return, which is not extravagantly represented in the increase
of earnings from $4,438,701 in the year 1904 to $5,984,159
in the year 1909.
Owing to the contraction of business during the years 1908
and 1909, enlargement of plant capacity has been curtailed
during this period but the improvement, both present and
prospective, in the business, has justified a resumption of
our general policy of providing for the necessary increase of
our capacity, and we have developed plans for such additional
installations as will cover the immediate future requirements
of the business. In the meantime we have not hesitated to
abandon and write off such parts of our investment as have
become antiquated or badly situated with respect to trade.
The depreciation fund accumulated for this purpose has been
quite sufficient. Our funds for insurance against accident
and losses of various kinds have more than met the requirements of the year.
The suit of the United States Government against our
Company on account of alleged violations of the Sherman
Anti-Trust Law still continues. The Government has closed
its side of the case, but in order to refute the allegations
against us it has been necessary to call a great number of
witnesses to testify in our behalf. Several months must yet
elapse before a final decision can be made by the courts.
As will be seen by inspection of the balance sheet, the
current liabilities of the Company remain at a minimum,
while the working capital, including cash balances, has materially increased during the year.
The number of stockholders of the Company has increased
as shown below:
1909-1,335, of whom 524,or 39%, are employees.
1908- 955, of whom 250,or 26%,are employees.
1907- 809. of whom 218,or 27%. are employees.
It is gratifying to note the substantial interest the employees are taking in the Company, as illustrated in the foregoing figures; the result must tend to promote the general
welfare of the Company.
Last year the directors of the Company recommended
offering to the employees of the Company 2,000 shares of
preferred stock (or common stock at the option of the subscriber). This plan was promoted with a view of further
interesting our employees in the Company's welfare. The
entire number of shares was subscribed and many payments
have been made in advance of amounts required by the Company. The second offer of 2,000 shares of stock was made in
December 1909, and was somewhat oversubscribed; the
price at which the stock was offered being substantially that
paid for it by the Company in the open market. The result
has been a considerable increase in the number of our stockholders.
In addition to the above plan, the Company has continued
for several years the practice of distributing shares of common stock to worthy employees in the way of bonus. We
believe that this plan has great value in properly rewarding
exceptional merit in cases not calling for increases in salary.
The Company also maintains a system of pensioning employees who have become disabled or who have reached advanced age. This plan thereby provides a means of retiring
those who, through no fault of their own, have ceased to be
able to serve the Company.
We believe that the above-mentioned plans for caring for
our employees are of substantial value to the Company and
assist materially in obtaining a personnel in our operative
force which will insure future success.
During the year the Company has paid regular quarterly
dividends of 1% on the preferred stock, while the dividend
to the common stockholders has been increased to 2% quarterly. The dividend record for the common stock is as follows:
%%11906
3%%11907
1904
1905
614%11906
7 %11909
7 %
7 u%
The total amount of our accumulated surplus, as shown
on the balance sheet, namely, $13,811,908 85, represents
earnings re-invested in the business since Aug. 1 1903. During the same period the total dividend disbursements
equaled $14,320,548 40, approximately 51% of our net receipts after paying interest on the funded debt.
Respectfully submitted,
T. C. DU PONT, President.
E. I. DU PONT DE NEMOURS POWDER CO.
COMPARATIVE STATEMENT OF EARNINGS, TWELVE MONTHS ENDING DECEMBER 31.
I
1909.
1908.
Increases.
Decreases.
$30,805,916 33$28,027,094 11 $2,778,822 22
Gross Receipts
$5,984,158 82 $4,929,250 58 $1,654,908 24
Net Earnings
After deducting all expenses incident to operations, including those for ordinary and
extraordinary repairs, maintenance of plants, accidents, depreciation, &c.
Non-Operative
stoErIftreom
ms
1
$129,312 49
$122,403 25
863,360 04
699.923 75,
729,265 81
771,078 40
134,094 23
$1,814,999 5$; $1,629,656 70
$185,342 83
$4,169,159 291 $3,299,593 88
$869,565 41
$28,078,365 01$27,914,951 92
$163,413 09
$251,715 74
sale of real estate, securities and other transactions not due to currnet
operations.
Accrued interest on bonds to date
Accrued dividends on preferred stock to date
Total deductions from net earnings
Balance applicable to dividends on common stock
---Common stock, as per Balance Sheet
-Percentage earned on Common Stock
Net Earnings equal annual income on gross investment of
$71,154 66
14.85%
I
11.82%
3.03%
8.00%
I
6.63%
1.35%
E. I. DU PONT DE NEMOURS POWDER CO. WITH SUBSIDIARY COMPANIES.
• INCOME ACCOUNT, YEARS ENDED DECEMBER 31ST.
1908.
1907.
1909.
1906.
1903.
1904.
1905.
(5 months)
$10,712,419 30 $26,103,868 77 $27,655,380 90 $30,751,725 92 $31,661,938 56 $28,027,094 11 $30,805,916 33Gross Receipts
3,929,508 66
4,929,250 58
5,984,158 82
5,332,802 08
2,277,003 17
4,438,701 11
5,063,611 69
Net Earnings
Extraordinary Adjustments and Profit
and Loss on Sale of Real Estate, Se387,816 01
129,312 49
251,715 74
66,109 80
'290,464 61
'109,93937
'97,258 72
curities, &c
676,427 40
863,360 04
535,819 29
729,265 81
106,500 00
266,669 68
307,245 30
Interest on Outstanding Bonds
699,923 75
735,637 22
989,236 40
771,078 40
214,497 50
1,136,801 25
988,715 92
Preferred Stock Dividends
2,170,395
1,533,825 75
1,741,391 75
1,786,737 75
0 00
821,39000
112,081 50
Common Stock Dividends
Interest Adjustments and Dividends on
10,595 16
240,144 79
•68,006 16
74,971 41
42,287 50
123,885 17
194,957 84
Subsidiary Co. Stocks
$154,418 06
Total Deductions from Net Earnings___ _
2,122,585 11
Surplus Carried Forward
2,122,585 11
Accumulated Surplus to Date
--* Indicate Credits to Profit and Loss.
$1,493,061 19
2,945,639 92
5,068,225 03
$2,169,88971
2,893,721 08
7,961,947 01
$3,365,136 03
1,967,666 05
9,929,613 06
$3,473,266 22
456,242 44
10,385,855 50
$3,491,365 86
1,437,884 72
11,823,74022
$3,995,990
1,988,168 63
13,811,908 85.
50S
[VoL. Lxxxx.
THE CHRONICLE
E. I. DU PONT DE NEMOURS POWDER CO. WITH SUBSIDIARY COMPANIES.
COMPARATIVE BALANCE SHEET, JANUARY 1ST.
1907.
1904.
1905.
1906.
ASSETS1908.
1910.
1909.
Cash, accounts receivable, materials and
$13,508,258 66 $13,893,308 56 $14,636,812 35 $15,453,946 20 $18,298,799 49 $17,626,842 00 $20,010,621 43
finished product
5,807,462 25
4,815,942 97
5,720,559 14
4,829,022 76 16,414,224 84
Investment Securities
4,305,365 16
3,407,292 60
851,687 74
939,478 92
669,899 59
979,865 48
865,000 71
Real Estate
859,637 94
934,352 34
Permanent Investment in Manufacture
38,482,529 52 39,671,856 31 41,551,596 09 44,503,731 10 46,876,110 03 49,173,568 01 50,403,252 89
Total Assets
LIABILITIES
Accounts and Bills Payable
Miscellaneous Deferred Liabilities
$57,235,632 26 $59,955,623 60 $61,984,216 89 $66,616,827 29 $70,868,932 99 $74,074,272 88 $74,755,519 26
$1,734,412 06
43,844 72
$860,451 10
199,768 66
$1,790,875 97
199,768 66
$4,921,760 27
152,929 86
$494,142 11
115,603 70
$859,656 51
13,829 40
$1,060,219 76
$1,990,644 63
$5,074,690 13
$609,745 81
$873,485 91
$1,382,732 28
3,194 05
$1,778,256 78 $1,385,926 33
•
CAPITALIZATIONFunded Debt
$5,088,400 00 $4,961,000 00
Capital stock Preferred Issued
17,038,660 00 22,481,819 77
Capital Stock, Preferred, Held in Reserve *7,242,357 89 •1,799,198 12
• Capital Stock, Common, Issued
13,925,310 00 22,477,670 49
Capital Stock, Common, Held in Reserve •9,948,067 33 •1,395,706 84
$4,517,000 00 $14,274,000 00 $14,432,000 00 $16,879,000 00 $16,420,000 00
23,163,157 94 14,866,141 67 14,670,351 29 15,589,401 34 13,469,401 34
*1,067,194 14
*125,179 93
*77,651 41
•53,043 05
*51,847 07
23,098,046 57 24,962,526 73 25,771,009 88 27,868,565 05 28,033,682 55
*1,053,823 91
*118,340 95
*46,386 87
*61,913 54
*44,682 46
$53,242,795 22 $53,115,395 22 $52,899,222 56 $54,346,189 28 555,012,926 12 560,436,396 31 $58,019,613 42
FUNDSReserve and Accident Funds and Contingent Liabilities
$91,995 15
$386,077 02
$62,827 56
$350,380 32
$395,461 24 $1,204,390 54 $2,050,511 08
5,068,225 03
7,961,947 01
PROFIT AND LOSS
2,122,585 11
9,929,613 06 10,385,855 50 11,823,740 22 13,811,908 85
Total Liabilities
$57,235,632 25 $59,955,623 60 $61,984,21689 $66,616,82729 $70,868,932 99 $74,074,272 88 $74,755,51926
I Includes $3,055,000 00 par value Treasury bonds.
* The Consolidated Balance Sheet, as given above, assumes that all shares of the Subsidiary Companieg are owned by E. I. du Pont de Nemours
Powder Company and the preferred and common stock shown as "held in reserve" on the Balance Sheet represents the estimated value of the few remaining shares not actually owned.
Quincy (Copper) Mining Co.-Dividend Increased.-A
quarterly dividend of $1.50 (6%) per $25 share has been
declared, payable March 23, comparing with $1 (4%) paid
each quarter from June 1908 to Dec. 1909 inclusive.
Annual Dividend Record (Per Cent) Since 1893.
'94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 1st qu.'10
6
32 48 80 48 26 38 36 36 28 22 20 24 50 54 18 16
-V. 89, p. 38.
.a
Richelieu & Ontario Navigation Co., Montreal.-ReportGross
Net
Divs. Bal., sur. Total.
Cal.
Insur. Written
(5%). for year. surplus
Year. earnings. profits, fund.
off.
1909_41,238,044 $257,562 $36,000 $36,566 $156,600 $28,396 $378,700
1908___ 1,241,747 250,742 36,000 49,233 156,600
8,909 350,305
-V.8. D. 1071.
Southern Wisconsin Power Co.-Bonds Offered.-Devitt,
Tremble & Co., Chicago and Philadelphia, having sold more
than $1,000,000 of the first mortgage 5s, are offering, by
advertisement on another page, the remainder of their block
of $1,500,000 at a price to yield about 53%. Total authorized issue $2,500,000, outstanding $2,000,000. A 25year- contract with the Milwaukee Electric Railway & Light
Co. assures the company, it is stated, more than sufficient
revenue to meet bond interest and all other charges, exclusive
of income from other sources. For 1910 the net earnings
are estimated at $200,000, or twice the interest charge.
See full particulars in V. 90, p. 379.
Syracuse (N. Y.)Lighting-Oo.-New-Bonds.-Application
has been made to the Public Service Commission for authority
to issue $354,000 extension and improvement 6% 10-year
gold bonds. Compare V. 88, p. 298, 825; V. 89, p. 167. in
Toronto Electric Light Co.-Earnings.-For calendar year:
YearDividends.
Revenue,
All Expenses.
Bal., Sur.
1909
(8%)$315,494
5761,839
51,292,546
$215,213
1908
1,155,582
715,712
(8%) 289,254
150,616
The above surplus (5215,213 for 1909), added to the total previous surplus of 510,961, makes a total of $226,175, of which $200,000 was transferred to reserve account, leaving a total surplus Dec. 31 1909, as per balance sheet, of $26,175.-V. 89, p. 344.
Union Oil Co. of California, Los Angeles.-Report.-For
year ending Dec. 31:
Deprec. All other
Net
Divid'ds
Balance,
Fiscal
Gross
Yr.- Earnings.
1909 „$9,687,339
1908 _ 9,197,251
-V. 89, p. 850.
Chgd Off. Expenses. Earnings,
Paid.
Surplus.
$495,375 56,536,787 52,655,177 51,477,768 $1,177,409
436,471 5,737,847 3,022,933 1,240,178 1,782,755
Union Switch & Signal Co.-Report.-For cal. years:
Calendar
Gross
Net (over int. Corn. clic. Pref. div.
Balance,
Yearearnings. & deprec'n). (12%). (12 A %) Sur. or Def
1909
42,625,133 5325,983 5240,000 559,712 sur. $26,271
2,123,543
1908
77,849
240,000
59,712 def. 221,863
5,023,599 1,024,842
1907
240,000
59,712 sur. 725,130
Total surplus Dec. 31 1909, 32,440,386.-V. 88, p. 561.
United Box Board Co.-New Directors.-Frederick Davenport and Lazard Kohn have been elected directors to succeed
Herman Grossman and E. M. Strehl.-V. 90, p. 451, 378.
United Gas Co., Wichita, Kan.-Bonds Called.-The
$250,000 1st mtge. 6s of 1906 have been called for payment
at 105 and interest at the Central Trust Co. of Illinois,
Chicago, on March 1 1910.-V. 89, p. 167, 668.
United States Realty & Improvement Co.-Earnings.For 9 months ending Jan. 31:
Net income, $1,111,483; dividends (3 A%), $565,698; balance, surplus,
5545,785. Accounts payable Jan. 31 1910, 5658,412, against bills and accounts payable, 51,500,344 in 1909; total surplus, as per balance sheet,
$4,880,550 (after transferring to profit and loss account the surplus of the
Century Realty Co., $663,587, and the surplus of the Battery Place Realty
Co., 5261.903).-V. 90, p. 378, 307.
United States Reduction & Refining Co.-Report.-The
results for the year ending Dec. 31 1909 are as follows:
Period
Gross
Net
Interest
Preferred
Balance,
Coveredincome, income. on Bonds, dividend.
surplus
Year end.Dec.31 '09 $295,053 $189,790 $159,000
sur.$30,790
17 mos.end.Dec.31'08 524,704 372,877 225,250 (1).,0559,187 sur. 88,440
July
31
'07
Yr. end.
527,778 394,531 159,000
(6)236,748 def. 1,217
-V. 89, p. 1144.
010
Utah Consolidated Mining Co., Boston.-Dividend Suspension Recommended.-President Urban H. Broughton, in'a
circular, says in brief:
Approximately one-half of the dividends declared in 1908 came out of
accumulated surplus. The values in the ore treated in 1909 were lower
than in 1908, so that by far the greater part of the dividends declared in
1909 was also out of accumulated surplus. j
The surplus has now been encroached upon to such an extent that I consider it advisable to recommend to the directors that dividends be suspended
until the benefits from the new smelting contract, which will be in force
in a few months, are obtained. There is no lack of ore of approximately
the grade treated in 1909, and this ore, under the new smelting contract,
with copper at the same price, will return between 5300,000 and $400,000
per year additional earnings.-Compare V. 88, p. 948.
Western Union Telegraph Co.-New General Manager.Belvedere Brooks, General Superintendent of the Eastern
Division, has been elected General Manager of ,the entire
system, succeeding President Robert C. Clowry. Mr.
Clowry still retains his position as President of the cornpany.-V. 90, p. 241.
Wilmington (Del.) Gas 00.-Initial Dividend on Preferred.
-An initial semi-annual dividend of 3% on the $1,000,000
6% cumulative pref. stock has been declared payable Mch. 1
to stockholders of record Feb. 21. See statement of company in V. 89, p. 781.-V. 90, p. 379.
-Investors can purchase $100,000 or any part of Spokane
International Railway Co. bonds due 1955 at a favorable
price from Pouch & Co., members N. Y. Stock Exchange,
corner Wall and Nassau streets. The Spokane International
Ry. (of the Canadian Pacific system) is covered by a closed
first mortgage on mileage forming part of the Canadian
Pacific trans-continental service between St. Paul, Minn.,
and Portland, Ore. This security is listed on the N. Y.
Stock Exchange.
-The bond department of William P. Bonbright & Co.
has prepared for distribution a very complete circular, giving particulars on a number of selected hydro-electric companies, the first mortgage bonds of which the firm offers at
prices to yield the investor from 5.30% to 6.50%. Prices
and further information will be furnished upon application
made to the main office, 24 Broad St., or at the firm's London office, 16 George Street (Mansion House).
-The attention of investors is called to the exceptionally
choice list of investment securities being offered on another
page by the banking house of William A. Read & Co. Some
of the issues are tax-exempt in New York and Pennsylvania.
Full details will be furnished upon application to any of the
firm's offices.
-Colston, Boyce & Co., 7 North Calvert St., Baltimore,
are distributing copies of their pamphlet on the Consolidated
Gas Electric Light & Power Co. of Baltimore and its subsidiary companies, including the Baltimore Electric Co. The
firm has spent some time in gettingthis information complete
and correct.
-Roger W. Babson of Wellesley, Mass., the statistician,
left this week for Europe on the Cedric to study the English
political situation and the Paris disaster. While in London
Mr. Babson will give one or more lectures at the London University on economic problems.
-Messrs. Ackermann & Coles, 20 Broad St., New York,
have issued the ninth annual number of their pamphlet on
the banks and trust companies of this city. The book is
replete with statistics regarding these institutions.
-The old:time banking firm of A. M. Kidder & Co.,
members of the N. Y. Stock Exchange, announces its removal from 18 Wall St. to the fifth floor of the Hanover
Bank Building, 5 Nassau St., this city.
-A descriptive booklet on "Hudson River Tunnels" will
be sent by Pouch & Co., Wall and Nassau streets, city, to
all inquirers who write for pamphlet "J."
-Allen Dean Converse, who has been connected with the
banking house of William P. Bonbright & Co. as sales manager, is now associated with Bigelow & Co., 49 Wall Street.
-Baillie, Wood & Croft are distributing their annual compilation of the capitalization, earning power and quotation
record of active Canadian securities.
-Curtis & Sanger, 38 Wall St., are advertising on another
page a list of banks,to which the attention of investors is
invited.
FEB. 19 1910.]
THE CHRONICLE
Tannnercial Times.
COMMERCIAL EPITOME.
Friday Night, Feb. 18 1910.
Notwithstanding the check to speculation, general trade
makes quite a favorable exhibit as compared with recent
years, if we apply the test of bank exchanges and railroad
earnings. At the same time a spirit of conservatism dominates all branches of business. Money is cheap and imports
are large. Though pig iron is quiet, finished iron and steel
is more active.
LARD on the spot has advanced, owing to a rise in hog
quotations at the West, an advance in lard futures, moderate
offerings and some increase in the demand. Prime Western
13.25c., Middle Western 13.15c. and City steam 12/
8c.
Refined lard has also advanced, owing mainly to the strong
hog situation. A somewhat larger business has been reported of late. Refined Continent 13.60c., South America
14.10c. and Brazil in kegs 15.10c. The speculation in lard
futures at the West has been active at an advance. Strengthening factors have been a rise in prices of live hogs, the activity and advance in the grain markets, buying on a large
scale by prominent packers, investment purchases by commission houses and some increase in the spot demand.
•
•
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Fri.
Wed. Thurs.
Holt- 12.70
12.52
12.72
12.82% 12.80
day. 12.62
12.47
12.77%
12.67
12.80
509
COTTON.
Friday Night, Feb. 18 1910.
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
101,339 bales, against 81,326 bales last week and 62,982
bales the previous week, making the total receipts since
Sept. 1 1909 5,879,297 bales, against 7,911,638 bales
for the same period of 1908-09, showing a decrease since
Sept. 1 1909 of 1,932,341 bales.
Receipts at-
Sat.
Galveston
Port Arthur_ _ _ _
Corp. Christi, &e
New Orleans
V
ol:liv
en
Pensacola
Jacksonville, &c.
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
Newport N., &c_
New York
Boston
Baltimore
Philadelphia_ _ _ _
Totals this week_
Mon.
Tues.
Wed.
5,030
Thurs.
5,721 10,482 6,202
5
---------------933 3,453 3,041
5,294
5,131
-16,-1
2,425
____
1,144
801
509
1,321i
-iiie
63
962
100
1,224
____
1,356
9,750
49
918
i55
_
iiii
iiii
--5i
_
i.S5
-16
_
• iiii
'764
____
6'79
____
476
____
525
____
489
____
1,508
273
22
284
25
21
_
_
43
Total.
3,286 35,852
5,362
378 1,378
1,532 15,374
2
2
1,587 5,359
8,458 20,633
162
374
809 6,413
iir7i
15
40
_
1,000
1,031
Fri.
-iiii
_ _
3,559
4,441
273
____
loo -56 -ia -.675
1,
101
------------------25
___
__-_
9,445 12,997 22,738 24,032 11,691 20,436 101,339
May delivery
July delivery
The following shows the week's total receipts, the total
PORK on the spot has advanced, owing to the rise in live
hogs and other provisions as well as grain. Trade has been since Sept. 1 1909, and the stocks to-night, compared with
dull. Mess $24 50(:),$25, clear $24 75@$26 75 and family last year:
$26@$26 50. Beef has been strong. The demand has been
1909-10.
1908-09.
Stock.
Receipts to
light, but offerings have been small. Mess $12 50@$13 50,
This Since Sep This 'Since Sep
packet $13 50@$14, family $16@$17 and extra India mess . February 18.
Week. 1 1909. Week. 1 1908.
1910.
1909.
$22@$23. Cut meats have been in fair demand and firm.
35,852
2,144,398
53,035
Galveston
112,718
2,994,019
141,414
Pickled hams, regular, light to heavy, 13 ®131/0.• pickled Port Arthur
5,362 107,378
108,772
bellies, light to heavy, clear 13@1334e.; pickled ribs, light Corpus Christi,&c 1,378 32,687 10,497 69,753
_
1,609,355
894,895
_
_
35,890
186.556 261,693
15,374
Orleans
New
to heavy, 13@133/
2c. Tallow has been dull and steady; Gulfport
2
20,221
8,264
1,006
City 63
/0. Stearines have been firmer and more active; Mobile
26,180
58,667
5,359 200,092 7,319 308,017
20,633
119,224
Pensacola
109,446
oleo 14@15e. and lard 133-2c. Butter has advanced with
374
37,708
Jacksonville, &c_
670
26,454
a larger trade and supplies decreasing; creamery extras 30c. Savannah
73,827 106,030
6,413 1,175,055 11,695 1,261,485
199,190 8.452 294.252
13,081
4,676
Cheese quiet and firm; State, f. c., fall make, fancy, 173c. Brunswick
21,040
23,711
420 192,030 2,240 178,203
Charleston
Eggs moderately active and firmer; Westernfirsts 26)
1,836
1,073
45
,6@27c. Georgetown _ _
- -- 7,495
OIL.-Linseed has been strong but without quotable Wilmington _ _ 3,559 285,303 2,725 344,797 19,033
4,441 403,422 5,617 467,002
30,953
34,578
Norfolk
change. Little business has been transacted of late, but it is Newport
273
14,764
8,447
488
News,&c
expected that there will he a marked increase in the demand New York
3,765
50
13,661 161,663 139,744
236
573
11,563
7,855
6,596
7,993
in the not distant future. City, raw, American seed, 77® Boston
1,301
80,959
51,359 2,314
8,347
20,859
Baltimore
78c.; boiled, 78@79c.; Calcutta, raw, 85c. Cottonseed has Philadelphia
339
25
3,396
4,793
837
3,097
been quiet and firm; winter, 7.15()7.50c.; summer white,
101,339 5,879,297 141,612 7,911,638 658,3631 817,387
Total
7.25®7.50c. Lard has been quiet but strong; prime,
$1 25@$1 28; No. 1 extra, 65®69c. Cocoanut has been
In order that comparison may be made with other years,
dull and easier; Cochin, 93A(03
4c.; Ceylon, 9c. Olive has
been quiet and firm at 80@85c. Peanut has been quiet we give below the totals at leading ports for six seasons:
and steady; yellow,62@67c. Cod has been quiet and steady; Receipts at- 1910.
1905.
1909.
1907.
1908.
1906.
domestic, 38@40c.; Newfoundland, 42@44c.
31,409
35,852
55,051
Galveston __ _
57,903
53,035
99,444
COFFEE on the spot has been quiet and firmer; Rio No. 7, Pt.Arthur,&c.
847
10,497
6,740
2,398
4,789
83
39,878
4@8%c.; Santos No. 4, 93@93ic. West India growths New Orleans_
35,890
71,468
15,374
41,166
44,107
1,610
5,359
4,101
7,319
Mobile
1,744
4,588
have been quiet and steady; fair to good Cucuta,
14,547
11,695
6,413
13,205
23,896
10,183
10®103c. Savannah
The speculation in future contracts has been more
503
8.452
1,405
762
7,987
active. Brunswick _
1,577
847
2,285
420
2,971
1,201
Prices have ruled firm, though without marked change. Charleston,&c
2,725
2,262
3,559
5,283
6,702
517
_
On firm spots, however, there has been scattered liquidation Wilmington_
5,617
6,325
4,441
6,009
8,906
3,555
Norfolk
78
1,582
488
273
478
388
for local and Wall Street account. Closing prices were as N'port N., &c
18,105
1,614
5,308
3,609
22,908
10,133
All others_ _
February
March
April
May
6.95c.
6.95c.
7.00c.
7.05c.
June
July
August
September
7 10c.
7.15c.
7.15c.
7.15c.
October
November
December
January
7.15c.
7.15c.
7.15c.
7.15c.
SUGAR.-Raw has been firmer and more active. Centrifugal, 96-degrees test, 4.17c.; muscovado, 89-degrees test,
3.67c., and molasses, 89-degrees test, 3.42c. Refined has
been quiet and steady. Granulated 4.95c. Spices have been
firm and more active. Teas have been firm with a moderate
trade. Wool quiet and firm. Hops dull and steady.
PETROLEUM.-Refined has been steady. Trade has
been dull. Crude has developed further weakness and consumers of refined have held aloof from the market in expectation of some decline in prices. Refined, barrels 7.90c.,
bulk 4.40c. and cases 10.30c. Gasoline has been in moderate demand and steady; 86-degrees, in 100-gallon drums,
183
4c.; drums $8 50 extra. Naphtha has been quiet and
steady; 73®76-degrees, in 100-gallon drums, 1694c.; drums
$8 50 extra. Spirits of turpentine quiet and easy at 623/2c.
Rosin dull and steady; common to good strained $4 50.
TOBACCO.-The market for domestic leaf has presented
no new or interesting features during the week. The attitude of the trade is a waiting one. There is a belief in many
quarters that there will he an increase in the demand for
leaf for manufacturers in the not distant future. Havana
and Sumatra have been quiet. Prices have ruled steady.
COPPER has been dull and easy. Consumers are apparently well supplied as a rule and surplus stocks are large.
Lake 13M ®133
4c., electrolytic 131
/
1 ®133
%c. and casting
13®13Uc. Lead has been quiet and easier at 4.55c. Spelter has been dull and easier at 5Mc. Tin has been more
active and firmer; spot 3334c. Iron has been rather easy,
though without important changes in prices. Sales for
early delivery have continued small. More interest is displayed in the market by consumers for delivery in the second
and third quarters of the year. No. 1 Northern $18 50®
$18 75; No. 2 Southern $18@$18 25.
Total this wk.
101,339
141,612
134,208
245,649
136,015
100,960
Since Sept. 1_ 5,879,297 7,911,638 6,705,512 7,979,637 6,131,301 6,896,497
The exports for the week ending this evening readi a total
of 126,292 bales, of which 27,235 were to Great Britain,
16,616 to France and 82,441 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1909:
Week ending Feb. 18 1910. From Sept. 1 1909 to Feb. 18 1910.
Exported toExported I.• Exports
from-
Great I
I ContiGreatContiBritain.IFeneel neat. Total. Britain. irrance. nen:.
Total.
Galveston --------4.2751 42,116 46,391 613,4051372,965 764,1681,750,538
Port Arthur_ _. _
_' 5,362 5,362 25,8431 18,398 64,131 108,372
1
15,730 15.736
---- ----1,000
Corp.Christi,&c
_
1,000
New Orleans... 23,329 1,916 4323 29,568 344.3091145.428 196.593 686,330
Mobile
8,395 8,395 28,526 59,196 28,686 116,401
Pensacola
__ 10,425 10,208 20,633 39,855 48,843 32,981 121.679
Gulfport7,25
____
8
7,258
83,991 381,395 871,598
_ __ _ _ _ _ _
----------------206,212
Savannah ---13runswick .... _. _ ___ _ _ _ _ 3,452 3,452 73,679 5,496 88.007 167,182
_
95,324 108,819
Charleston_ _ _ _
_ __ _ _ _ _ _ 3,050 3,050 13,495
92,265 15-,700 153,474 261,439
___
____
Wilmington_ _ _
568
1 800
5.368
____
Norfolk
Newport News
--------------------------600 3,757
.960 83
..548 203,429
New York_._ _ 3,157 _ _ _
849
71,036
_ __
100
8,642
79,678
749 _ _._
Boston
27,921
47,614
Baltimore ---------------------15,3291 4-,384
3,743
_____
____
14,044 47,788
__ ____
Philadelphia _ _
4271 _ _ _ _
427
Portland, Me.. _
--- - -- -,- ,-.,.-.
j
34,407' 34,407
San Francisco_
- - - _ - - - - 2,374 2-.374
1,461 1,461
19,738
19,738
Seattle
•2,569
2,569
Tacoma
-----------------200
200
_ _ -Portland, ()re_
1
600
Pembina
6001
- -Detro!t
I
1791,340 1,992,7270,457.170
27,235 18,616 82,441 126,29211,873.103,
Total
•
Total 1908-09_ 101.37934.004 49,495 184,87812,822.89402,602 2,716,11713,341,615
1
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
•
[VoL. Lxxxx.
THE CHRONICLE
510
On Shipbgard, Not Cleared forOther CoastI GerGreat
Feb. 18 at- Britain. France I many. Foreign wise.
-463 7,439 5,751
422
2,502
New Orleans_ _
_
_ 17,600 12,576
2,100
Galveston _ _ _ _ 12,583
4,559
Savannah _ _ _ _
400
Charleston_ _ _ _
661
0,500
700
550
Mobile
12,541
Norfolk
500
800
700
New York__ _ _
4,000
4,000
500
Other ports_ _ _
Leaving
Stock.
Total.
16,577
44,859
4,559
400
8,411
12,541
2,150
8,500
169,979
67,859
69,268
23,311
17,769
18,412
159,513
34,255
Total 1910_ 20,246 7,1131 35,098 19,527 16,013 97,997
Total 1909_ _ 39,4!)4 27,059: 47,832 33,534 17,036 164,915
Total 1008.._ 60,149 39,1331 47,821 26,125 23,998 197,226
560,366
652,472
506,185
1501
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
Oct
4
81
II SI
II
V4I
12:
W.
0V
00
®
00
Middling
c
Basis
Strict low. mid_ ___0.25 off
Low middling
0 60 off
Strict good ord__ _ _1.05 off
Good ordinary
1 75 off
Strict g'd mid. tgd_0.35 on
Good mid. tinged_c Even
Strict mid. tinged_ 0.15 off
Middling tinged_ _..0.25 oft
Strict low.m1d.ting_0.60 oft
Low mid. tinged___1.50 off
Middling stained.._0.75 oil
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Feb. 12 to Feb. 18Middling uplands
Sat. Mon. Tues. Wed. Thurs. Fri.
H. 15.15 15.00 14.80 14.80 14.80
NEW YORK QUOTATIONS FOR 32 YEARS.
14.8011902_c
1910_c
9.85 1901
1909
1908
11.45 1900
1907___.___11.00 1899
1906
11.25 1898
1905
8.15 1897
1904
13.75 1896
1903
9.80 1895
8.81
9.31
8.88
6.62
6.25
7.12
7.88
5.62
1894_c
1893
1892
1891
1890
1889
1888
1887
7.94
9.19
7.12
9.06
11.25
10.06
10.62
9.50
1886_0
1885
1884
1883
1882
1881
1880
1879
9.00
11.25
10.75
10.25
11.62
11.56
13.12
9.62
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Futures
Market
Closed.
Saturday
HOLIDAY_ _
Monday_ _ _ Quiet
Steady
Tuesday __ Quiet, 15 pts. dee_ _ Steady
Wednesday Quiet, 20 pts. dec. Steady
Thursday _ Quiet
Steady
Friday__ _1QuIet
Easy
Total__ _
!Sales of Spot and Contract.
Con- ConSpot. sum'n. tract.
500
500
041
1,261
100
641
1,261
100
2,002
Total.
500
2,502
Ver
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Speculation in cotton for future delivery has been quiet
and prices have declined rather sharply. The fall was due
largely to slowness of the spot trade on this side of the water
and reports of a decreased demand in Liverpool. Also,
however, speculation has been sluggish and long liquidation
by discouraged holders has contributed to the decline. The
investigation at Washington of the present system of trading
in cotton futures has, moreover, assumed a phase which has
aroused increasing .interest, if not a certain degree of disquietude at New York. Lancashire spinners, members of
the Federation, using American cotton, have decided unanimously to continue short:time until April 26, and it is said
that 4,000,000 spindles outside the Federation will,co-operate
in this agreement. The outside public still holds aloof from
the speculation. Some rain as well as sleet and snow has
fallen in Texas. The impression, too, is widespread and
deep-seated that the next acreage will be of unprecedented
size and that unless the plant should meet with some very
serious set-back the next crop may conceivably be a very
large one. The May premium, moreover, which was recently
21 points over July, has latterly shrunk to as low as 5 points.
This has given rise to discussion as to whether there is any
serious intention of attempting a squeeze in the May option.
The New Orleans market has been noticeably weak at times
and this fact has had not a little to do with the depression at
New York. Some unfavorable reports about the condition
of the yarn trade have certainly not tended to help matters.
Liverpool, which was recently a steady buyer here, has
latterly at times sold to some extent. Certain prominent
spot interests have been sellers to some extent of May and
July. Also New Orleans and the Southwestern element,
which has been prominently identified with bull speculation
this season and which recently appears to have renewed
purchases, has of late, .according to the common understanding, been selling to some extent. Yet supporting orders
from time to time and the undoing of Liverpool straddles
have seemingly prevented the price from reaching a lower
level than it might; otherwise have done. Also, there has
been some buying by large spot interests on the way down.
The receipts have continued small. Western dry goods
reports have been more favorable. Texas is said to need
copious rains. Spot holders at the South have in many cases
resisted any downward tendency of prices. Wall Street
houses have in some cases been disposed to buy on declines.
Liverpool people have also bought of late. English stocks
' are steadily decreasing and spot sales, if not so large as those
of last week, have continued to be liberal. The certificated
stock at New York is diminishing. It is of good quality
and is controlled by prominent interests. Prices for cotton,
it is very generally believed, must be fixed for the rest of the
season by the natural working out of the law of supply and
• demand rather than by speculation. To-day prices advanced slightly early on higher cables, light receipts and
buying by spot interests and Liverpool. Later there was a
decline on dull spot markets at the South, smaller spinners'
takings for the week, selling by spot interest and room traders
and liquidation. Spot cotton has been quiet. Middling
upland closed at 14.80c., a decline for the week of 35 points.
The rates on and off middling, as established Nov. 17 1909
by. the Revision Committee, at which grades other than
middling may be delivered on contract, are 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 for to-night (Friday), we add the item of exports
from the United States, including in it the exports of Friday
only.
February 18Stock at Liverpool
Stock at London
Stock at Manchester
1908.
1909.
1910.
bales. 988,0n0 1,382,000 1,112,000
11,000
10,000
3,000
76,000
83,000
62,000
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
1907.
980,000
9,000
77,000
1,053,000 1,475,000 1,199,000 1,066,000
14,000
11,000
12,000
9,000
265,000 447,000 396,000 450,000
452,000 359,000 234,000 264,000
4,000
3,000
3,000
4,000
37,000
15,000
9,000
45,000
120,000
19,000
70,000
76,000
19,000
2,000
4,000
1,000
812,000
943,000
723,000
866,000
Total European stocks
1,865,000 2,418,000 1,922,000 1,932,000
112,000 234,000
India cotton afloat for Europe__ _ 282.000
152,000
721,480
770,496
Amer. cotton afloat for Europe
536,508
311,505
29,000
48,000
67,000
Egypt,Brazil,&c.,aflt.for Europe., 39,000
Stock in Alexandria, Egypt
196,000 310,000 234,000 240,000
566,000 604,000
625,000 465,000
Stock in Bombay, India
658,363 817,387 703,411 1,149,834
Stock in U. S. ports
518,015
794,206
577,718
Stock in U. S. Interior towns_ _ _ _ 690,302
30,780
43,777
20,720
19,532
U. S. exports to-day
4,687,890 5,603,878 4,830,696 5,575,580
Total visible supply
Of the above, totals of American and other descriptions arc as follows:
AmericanLiverpool stock
bales. 908,000 1,283,000 983,000 897,000
60,000
63,000
50,000" 68,000
Manchester stock
758,000 889,000 651,000 807,000
Continental stock
721,480 770,496
536,508
311,505
American afloat for Europe
658,363 817,387 703,411 1,149,834
U. S. port stocks
518,015
577,718
690,31,2 794,206
U. S. Interior stocks
30,780
43,777
19,532
20,720
U. S. exports to-day
Total American
East Indian, Brazil, ttc.Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, ecc., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
3,396,8110 4,431,878 3,667,686 4,284,580
80,000
3,000
12,000
54,000
282,000
30,000
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
83,000
9,000
14,000
59,000
234,000
48,000
240,000
604,000
1,291,000 1,172,000 1,169,000 1,291,000
3,396,890 4,431,878 3,067,686 4,284,580
Total visible supply
4,687,890 5,603,878 4,836,686 5,575,580
6.14d.
5.09d.
6.03d.
Middling Upland, Liverpool
8.100.
11.50c.
9.85c.
11.00c.
Middling Upland, New York
14.80c.
9%d.
Egypt, Good Brown, Liverpool 15 9-16d. 8 11-160.
10.75d.
7.75d.
9.65d.
Peruvian, Rough Good, Liverpool
10d.
5%d.
5.00d. 5 11-16d.
Broach, Fine, Liverpool
7 9-16d.
TInnevelly, Good, Liverpool
7 Ad. 5 15-16d. 5 5-160. 5 7-16d.
Continental imports for the past week have been 135,000
bales.
The above figures for 1910 show a decrease from last week
of 66,873 bales, a loss of 915,988 bales from 1909, a
decline of 148,796 bales from 1908, and a decrease of 887,690 bales from 1907.
AT THE INTERIOR TOWNS the movement-that is,
the receipts for the week rind 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.
a
511
THE CHRONICLE
F1111.191910.]
aaiR45P54il
aiiPIOPPga
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Closing Quotations for Middling Cotton onWeek ending
February 18.
Galveston
New Orleans_ _ _
Mobile
Savannah
Charleston
Wilmington
Norfolk
Boston
Baltimore
Philadelphia
Augusta
Memphis
St. Louis
Houston
Little Rock
Sarday. Monday. Tuesday. 1Ved'day. Thursd'y. Friday.
15
15 1-16
15 3-16
15 1-16
15
15%
15 1-16
15 3-16
15
15
15
15 1-16
15
15
15
15
14 15-16
15 1-16
14 15-16
14 15-16
15
15
14 15-16 14 15-16
15 1-16 15
14
143-1
14 15-16 14 15-16
15
15
15.15
15
15.40
15
150%
15
15 1-16
14
1.6-15.15
15
15.25
15
150%
15
15 1-16
14
15
15.00
15
15.05
15
15a4
154
14
14
14.80
15
15.05
143-i
15%
15%
14 %
14
15
150%
154
15
14
14.80
15
15.05
14 %
15 5-16
15%
140%
140%
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:
awn
vox'
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,
Feb. 12. Feb. 14. Feb. 15. Feb. 16. Feb. 17. Feb. 18.
.
N
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u&WW:40,4440000=W:f.00N..0000W.1000004..44000
00 .
00-W0V000
.
...40
.
.
4.
,
40
.
...7-.140.
.
.4
14
.
027A100
.
0
6
.
.11401,710
.4 00,A.NWNW0000.4Ne44
00W0.400
,
0N00.000C40.04=-W04
,
00 _00.OWN0000000W00000000WW0400.W00.00&.000.4.1
7.1-.
000000
WU.
I. .....1-0..1
.
..000.414
.
01000
.
00. u0)
14 .
..I.
U.10.
00 ..le,-44).0WOONWA
,
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0 .UV4
)
.4,
.00e00000000000MON.40.
,
WU..4004000N0
CO
W
w
o
00
.
Ca
Frri
W
CO
..00..
4. NZ.
OW4,
.-4.00.10 40002W004044-404).4). W
00
.
...p.W.
.414).00
.
0
.
6
.
07:0
.
0
0):0104
,
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.
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60
.
0:PU000t4
.
000
000'00IC,
g
FaR
Movement to February 19 1909.
•
W
O
CO
00.
'
6 071).
's,1
c t.".! g
The above totals show that the interior stocks have decreased during the week 18,449 bales and are to-night 103,904
bales less than at the same time last year. The receipts
at all the towns have been 43,704 bales less 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. 1 in the last two years are as
follows:
February 18ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, ece
Total gross overland
Deduct shipmentsOverland to N. Y., Boston, ecc
Between interior towns
Inland, dec., from South
Total to be deducted
Leaving total net overland
----1909-10---Since
Week. Sept. 1.
8,833
297,738
3,598
134,665
879
17,935
1,593
73,848
718
35,890
3,274
98,445
4,988
119,041
----1908-09---Since
1Veek. Sept. 1.
467,078
17,640
7,426
253,593
22,303
973
57,118
2,048
2,022
34,299
4,894
142,517
7,693
213,823
23,883
772,562
42,696 1,190,731
1,899
5,987
4,948
63,816
28,934
40,247
12,834
132,997
_11,049
639,565
2,939
487
1,194
109,579
36,655
24,258
4,620
170,492
38,076 1,020,239
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 11,049 bales, against 38,076 bales for the week
last year, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 380,674 bales.
---1909-10--- ---1908-09-In Sight and Spinners'
Since
Takings.
Week. Sept. 1.
Receipts at ports to Feb. 18
101,339 5,879,297
Net overland to Feb. 18
11,049
639,565
Southern consumption to Feb. 18_ _ 52,000 1,274,000
Total marketed
Interior stocks in excess
Since
Week. Sept. 1.
141,612 7,911,638
38,076 1,020,239
51,000 1,148,000
164,388 7,792,862' 230,68810,041,877'
•18,449
607,139 •10,163
680,191
Came into sight during week.. _ _145,939
8,400,001
Total in sight Feb. 18
220,525
10,760,068
North. spinners' takings to Feb. 18_ 27,248 1,593,393
91,338 1,950,314
• Decrease during week.
Movement into sight ill previous years:
Week1908-Feb. 21
1907-Feb. 22
1906-Fdb. 23
1905-Feb. 24
Bales.
197,582
316,486
201,852
148,182
Since Sept. 11907-08-Feb. 21
1906-07-Feb. 22
1905-06-Feb. 23
1904-05-Feb. 24
Bales.
8,894,145
10,630,209
8,472,743
9,262,864
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
eachiday of the week.
FebruaryRange
Closing
MarchRange
Closing
A pillRange
Closing
MayRange
Closing
JuneRange
Closing
JulyRange
Closing
AugustRange
Closing
SeptemberRange
Closing
OctoberRange
Closing
.VovemberRange
Closing
DecemberRange
Closing
ToneSpot
Options
_ @ -- @ _ - 0 -- @ -- 0 -- o _
14.97.- 14.85'- 14.75'- 14.40*- 14.50*- 14.35*15.12-.15 14.96-.12 14.87-.98 14.54-.83 14.40-.67 14.48-.72
15.13-.14 14.97-.98 14.87-.89 14.56-.57 14.66-.67 14.48-.49
- o - ___ 0 -- o -- 0 _- 0 -- o 15.23-.25 15.05-.08 14.95-.97 14.64-.67 14.76-.78 14.58-.60
15.30-.34 15.14-.31 15.05-.16 14.73-.05 14.59-.86 14.66-.92
15.32-.34 15.15-.16 15.06-.07 14.75-.76 14.85-.86 14.66-.67
_ 0 _ ___ o _ _ 0 _ _ o _ _ o ___.- 0 15.35-.37 15.20-.22 15.10-.12 14.79-.81 14.89-.91 14.70-.72
15.41-.45 15.25-.42 15.15-.26 14.82-.15 14.68-.97 14.75-.03
15.44-.45 15.26-.27 15.16-.17 14.85-.86 14.C6-.97 14.76-.77
14.63-.64 14.44-.60- 0 -- @ .30 13.90-.11 -- 0-7) 14.63-.65 14.45-.47 14.40-.42 14.10-.15 14.25-.10 l4.0C-.05
- @ -13.35-.37 - 0 -- 03 -13.10-.17 13.20-.24
13.44 -13.34-.36 13.37-.40 13.15-.20 13.23-.25 13.05-.10
12.93-.96 12.83-.00 12.80-.87 12.67-.82 12.62-.75 12.62-.75
- 0 -12.84-.86 12.83-.85 12.78-.80 12.71-.73 12.60-.63
- 0 -- @ -- 0 -- 0 -12.49 -- 0 12.84-.86 12.70-.75 12.72-.75 :2.62-.64 12.60-.62 12.50-.55
12.73-.79 12.64 - 12.61 -12.50-.59- 0 - 12.46-.48
12.75-.76 12.64-.86 12.64-.66 12.50-.52 12.52-.54 12.41-.44
Firm.
Quiet.
Quiet.
Quiet.
Steady. Steady.
Quiet.
Quiet. Steday.
Steady. Steady. Steady.
• Nominal.
WEATHER REPORTS BY TELEGRAPH.-Advices to
us by telegraph from the South this evening indicate that
rain has fallen in most districts during the week, with the
precipitation light in Texas but above normal in portions
of the Atlantic and Eastern Gulf States. Snow is also
reported in some localities. Wet weather is said to have
hindered crop preparations to some extent.
Galveston, Texas.-There has been sleet and rain on one
day of the past week, the rainfall reaching eight hundredths
of an inch. The thermometer has averaged 45, ranging
from 24 to 66.
Abilene, Texas.-We have had a trace of rain on one day
during the week. The thermometer has ranged from 12
to 82, averaging 47.
Corpus Christi, Texas.-We have had lfght rain on one day
of the past week, the precipitation being one hundredth of
an inch. Average thermometer 50, highest 74, lowest 26.
Fort Worth, Texas.-We have had rain on one day during
the week, the precipitation reaching fourteen hundredths
of an inch. The thermometer has averaged 44, the highest
being 78 and the lowest 10.
Palestine, Texas.-There has been light rain on two days
of the week, the precipitation being thirteen hundredths of
an inch. Thermometer has averaged 42, highest being 72
and lowest 12.
San Antonio, Texas.-Rain has fallen on one day of the
week, to the extent of one hundredth of an inch. Average
thermometer 49, highest 80, lowest 18.
Taylor Texhs.-We have had light rain on one day during
the week, to the extent of ten hundredths of an inch. The
thermometer has averaged 45, the highest being 74 and the
lowest 16.
New Orleans, Louisiana.-We have had rain on one day
during the week, the rainfall reaching one inch and six hundredths. The thermometer has averaged 53.
Shreveport, Louisiana.-Rain has fallen on two days of the
week, the rainfall being two hundredths of an inch; also a
snowfall of three inches on one day. The thermometer has
ranged from 22 to 72? averaging 47.
Vicksburg, Mississippi.-We have had rain on three days
of the past week, the precipitation being two inches. Average thermometer 45, highest 72, lowest 19.
Helena, Arkansas.-There has been rain, snow and sleet
on three days of the week, the precipitation reaching one
inch and thirty-two hundredths. The thermometer has
averaged 28.2, the highest being 65 and the lowest 10.
Little Rock, Arkansas.-There has been rain on four days
the past week, the rainfall reaching seventy-six hundredths
of an inch. The thermometer has averaged 37, ranging from
10 to 64.
Memphis, Tennessee.-There has been rain and snow on
three days during the week, with precipitation to the extent
of one inch and fourteen hundredths. The thermometer
has ranged from 17.6 to 64.7, averagin5 35.1.
Mobile, Alabama.-There has been rain on four days of the
past week, the rainfall being two inches and ninety-three
hundredths. The thermometer has ranged from 34 to 66,
averaging 50.
Montgomery, Alabama.-Rain has fallen on two days of
the week, to the extent of two inches and thirty-nine hundredths. Average thermometer 46, highest 73, lowest 25.
Selma, Alabama.-Rain has fallen on three days during
the week, the precipitation reaching two inches and forty-five
hundredths. The thermometer has averaged 43.5, the highest being 72 and the lowest 23.
Savannah, Georgia.-We have had rain on two days the
past week, the precipitation being thirty-five hundredths of
an inch. The thermometer has ranged from 30 to 72,
averaging 51.
Charlotte, North Carolina.-Weather too wet for farm
work. We have had rain during the week to the extent of
one inch and eighty-one hundredths. Average thermometer
41, highest 69, lowest 17.
•
Charleston, South Carolina.-It has rained on two days
during the week, to the extent of one inch and sixty-nine
hundredths. The thermometer has averaged 50, the highest
being 70 and the lowest 29.
BRITISH MILLS EXTEND SHORT TIME.-At a meeting of the American section of the Federation of Master Cotton Spinners, held at Manchester on Tuesday, it was decided
by a unanimous vote to continue the short time running until
April' 26. Reports were also current that the owners of
4,000,000 'spindles outside the Federation will co-operate
in the matter.
INDIA COTTON MOVEMENT FROM ALL PORTS.
February 17.
1909-10.
1908-09.
1907-08.
Receipts at-
Since
Week. Sept. 1.
Since
Week. I Sept. I.
Since
Week. I Sept. 1.
119,00011,746,000 87,000 1,114,000 76,0001 1,126,000
liombay
Since September 1.
For the Week.
Exports
from-
!great Conti- Japan
Great
Britain. nent. &China Total. Britain.
Bombay1909-10..
-- 18.000
1908-09J 5,000 53,000
1907-08_
16,000
Calcutta_ _
1,000
1909-10-1908-09_ _
_
3,000
1907-08 _
1,000
Madras1909-10_ _
1908-09_
1907-08_
All others1909-10_ _
10,000
1908-09_
4,000
1907-08_ _
3,000
Total all1909-10__
1908-09_.
1907-08._
[VOL.Lxxxx.
THE CHRONICLE
512
14,000 32,000
21,000 79,000
21,000 37.000
1,666
-
-
1,000
10
4,(
0
2
2-,Cioo
Total..
5:000
29,000 14,000 43,000
60,00 22,000 87,000
1,000 19,000 24,000 44,000
5-,666
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Week.
Exports (bales)To Liverpool
To Manchester
To Continent
To America
Total supply
4,687,890 4,687,890 5,603,878 5,603,878
-Total takings to Feb. 18
335,812 8,311,133 359,576 9,058,172
Of which American
230,812 6,457,133 314,576 7,305,172
Of which other
45,000 1,753,000
125,000 1,854,000
* Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port:
32,000
46,000
14,000
4,000
3,000
6,000
8,000
14,000
22,000
1,000
2,000
2,000
13,000
19,000
30,000
16,000
8,000
8,000
59,000
76,000
76,000
1,000
7,000
15,000
76,000
91,000
99.000
59,000 536,000 413,000 1,008,000
31,000 399,000 309,000 739,000
29,000 394,000 236,000 659,000
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:
1907-08.
50,000
4,707,036
180,000
5,726,636
135,000
5,970,528
This Since
This Since
Week. Sept. 1. Week. Sept. 1
This Since
Week. Sept. 1.
4,250 112,022 1,000 122,551
7,000 97,334 5,000 132,159
206,247 13,250 203,543
400 50,175
200 42,396
4,000 163,323
144,418
6,250 221,277
1.750 43,258
MANCHESTER MARKET.-Our report received by
cable to-night from Manchester states that the market continues quiet for yards and steady for shirtings. The demand
for both home trade and foreign markets is improving. We
give the prices for to-day below and leave those for previous weeks of this and last year for comparison:
1909.
1910.
323 Cop
Twist,
d.
d. s. d.
s. d.
Jan
7 103.1 @ 1134 5 6 ®10 0
14 10 5-16® 11 5 5 @9 1034
21 10
® 10% 5 4 @9 9
28 103/, @ 1034 5 4 ®9 9
Feb.
4 1034 @ 1134 5 5
9 1034
11 1034 @ 11345 5
9 1034
18 107-1851 11145 5 rao mu
d.
32s Cop
Twist.
834 lbs. Shirt- Cot'n
Pigs, common Mid.
to finest.
Upl's
d. 9. d.
d.
834
834
834
834
4
4
4
4
7.91 7 11-16® 8%
8.15 7 9-16 @ 834
A in 7ax
(al 1114
.1
8.18 734
7.84 734
7.56 7%
7.80 7 13-16
7 Rs
8
8
9
8
9 @8
s. d.
d.
5
6
734
734
5.07
5.14
5.30
5.30
4 8 @8 734 5.16
5.11
4 7 ®8 6
ft
r'il
5
Saturday.
Market, 1
12:15 }
Good
P.M.
demand.
1908-09.
Cot'n
Mid.
Upl's
5,043,702 12,999,023 5,063,454 14,662,050
DeductVisible supply Feb. 18
14,000
23,000
2,000
1909-10.
83j lb. Shirtings, common
to finest.
• Season.
16,000
19,000
9,000
11,650 465,778 19,450 500,649 12,000 572,276
Total exports
1908-09.
Week.
Visible supply Feb. 11
4,754,763
5,620,920
Visible supply Sept. 1
1,714,982
1,031,022
American In sight to Feb. 18_ _ 145,939 8.400,001 220,525 10,760,068
Bombay receipts to Feb. 17__. 119,000 1,746,000
87,000 1,114,000
Other India ship'ts to Feb. 17_
156,000
11,000
8,000
121,000
Alexandria receipts to Feb. 16_
704,000
7,000
25,000
628,000
Other supply to Feb. 16 •
173,000
153,000
6,000
2,000
Spot.
Receipts (cantars)This week
Since Sept. 1
Season.
2,000
4,000
3,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
February 16.
1909-10.
Cotton Takings.
Week and Season.
Jan. 28.
Feb. 18.
Feb. 11.
Feb. 4.
Sales of the week
49,000
03,000
82,000 *103,000
4,000
Of which specutalors took
4,000
1,000
2,000
1,000
Of which exporters took_
3,000
1,000
2,000
Sales, American
'98.000
41,000
72,000
57,000
Actual export
8,000
4,000
7,000
14,000
78,000
Forwarded
50,000
75,000 • 63,000
Total stock-Estimated
988,000
1,072.000 1,062,000 1,017,000
Of which American-Est_ _ 978,000
981,000
908,000
944,000
56,000
Total imports of the week_ __ _
57,000
73,000
32,000
Of which American
59,000
39,000
21,000
34,000
Amount afloat
175,000
170,000
165,000
165,000
122.000
Of which American
000
118,000
000
Includes 37,000 bales of called American cotton sold prior to
February 12.
37,000 453,000 397.000 887,000
16,000 290,000 277,000 583,000
12,000 287,000 217,000 516,000
.1,000
4,000
1,000
-1,000
Conti- I Japan
neat.
&China
rola bales.
NEW YORK-To Liverpool-Feb. 117-Manhattan, 2,957 upland,
200 Sea Island
3,157
To Copenhagen-Feb. 16-United States, 30
50
To Genoa-Feb. 11-Kontg Albert, 400
400
To Naples-Feb. 11-Konig Albert, 150
150
GALVESTON-To Havre-Feb. 11-Penrith Castle, 4,275
4,275
To Bremen-Feb. 12-Frankfurt, 10,312_ _ _Feb. 16-Masconomo, 11,700
22,012
To Hamburg-Feb. 11-Numantia, 4,449
4,449
To Antwerp-Feb. 11-Penrith Castle, 786
786
To Reval-Feb. 16-Ramore Head, 4,065
4,065
To Riga-Feb. 16-Ramore Head, 100
100
To Barcelona-Feb. 10-VirgInta,3,750
3,750
To Genoa-Feb. 11-Richmond, 5,904
5,904
To Venice-Feb. 10-VIrginia, 300
300
To Trieste-Feb. 10-Virginia, 750
750
PORT ARTHUR-To Bremen-Feb. 14-Nauplia, 5,362
5,362
TEXAS CITY-To Mexico-Feb. 14-Norheitn, 1,000
1,000
NEW ORLEANS-To Liverpool-Feb. 14-Wayfarer, 14,329._
Feb. 18-Jamaican, 6,000
20,329
To London-Feb. 16-Tamplcan, 3,000
3,000
To Havre-Feb. 12-Guatemala, 1,916
1,916
To Hamburg-Feb. 16-Nicomedia, 1,879
1,879
To Rotterdam-Feb. 15-Barrister, 275
275
To Genoa-Feb. 14-Richmond, 1,006_ _Feb. 15-Dinna1,969
mare, 963
To Naples-Feb. 15-Dinnamare, 200
200
MOBILE-To Bremen-Feb. 14-Hiliglade, 8.395
8,305
PENSACOLA-To Havre-Feb. 17-August Belmont, 10,425.. _ .. 10,425
To Bremen-Feb. 16-E. O. Saltmarsh, 9,911
9,911
To Hamburg-Feb. 18-Fallodon Hall, 297
297
BRUNSWICK-To Bremen-Feb. 17-Inca, 3,452
3,452
CHARLESTON-To Bremen-Feb. 14-Inca, 3,050
3,050
BOSTON-To Liverpool-Feb. 16-Devonian, 349
349
To Manchester-Feb. 12-Iberian, 400
400
To Yarmouth-Feb. 11-Boston, 100
100
SAN FRANCISCO-To Japan-Feb. 15-Chlyo Maru, 2,374
2,374
1,461
SEATTLE-To Japan-Feb. 15-Awa Marti, 1.461
Total
126,292
50(1
Monday.
Tuesday. Wednesday Thursday.
Friday.
Good
demand.
Fair
business
doing.
Fair
business
doing.
Fair
business
doing.
Fair
business
doing.
Mid.Upl'ds
8.17
8.19
8.10
8.08
8.05
8.10
Sales
Spec.&exp.
20,000
1.000
12,000
500
8,000
500
10,000
700
10,000
500
10,000
500
Futures.
Quiet at
Market 11 2®3 pis.
decline.
changed.
Market,
4
P. M.
Quiet,
undecline.
Quiet at
4®(1 pts.
decline.
Steady at
2®3 pls.
declin.e
Quiet at Steady at
4@5 pts. 7010 pts
decline. advance
I Firm at Barely st'ySt'y, unch. Easy at Barely st'y Barely sty
7(09 pts. at 40934 at 33-4005
3i@3M at 1@4 I to 434
decline.
pts. dec. pts. adv.
J pts. adv. pts. dec. pts. dec.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
Thus, 7 96 means 7 96-100d,
The prices are given in pence and 100ths.
Wed.
Thurs.
Fri.
Sat.
Mon.
Feb. 12
1234 1234 1234 4 1234 4 1234 4 12% " 4 1234 4
to
Feb. 18. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
February_ _ ___ 7 9634 97% 93 88% 89 86% 81 81 ,77 186 80 34
_ 7 053-i 96 91 X 87 87% 85 7934 79 '75 84 79
Feb.-Mch.
Mch.-Apr. ____ 7 943-i 95 90% 85 A 86 83% 78 77 73 82 77
75% 74 70 79 75
Apr.-May. ____ 7 9234 93 A 88 % 84 84 81
May-June ____ 7 90 91 86 34 82 82 79 73 34 72 67 76 72
June-July- 7 85 86 81 % 77% 77% 73% 68% 66 6134 70346634
5634 65 34 61 h
July-Aug _ _ _ _
80 34 81 34 77 72% 72 3,5 69 ,63 X 61
40% 37 32% 29 25 3334 30
Aug.-Sep--_ 7 47 49 44 % 41
Sep.-Oct--- _ 7_ 0234 05 0134 98
993-i 9734 92 A 89 85 92 8934
79 ,73% 69% 65 72 6934
6 8234 85 81 % 79 81
Oct.-Nov
6 73 75% 72 69 34 7265 60 55 34 62 34 60
Nov.-Dec.
6 71
Dec.-Jan..
73 A 70 87 34 70 68 '63 58 5334 6034 58
Jan.-Feb..
70 72 A 69 86% 69 873462 57 52 34 5034 57
ch
_ _ 6 70 7234 69 6634 69 6734 62 57 5234 5934 57
Tues.
I
BREADSTUFFS.
Fiiday, Feb. 18 1910.
Prices for wheat flour have been quiet. Trade has conif SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have tinued on a very small scale despite the numerous reports
reached 126,292 bales. The shipments in detail, as made current of late of serious damage to the winter-wheat crop in
up from mail and telegraphic returns, are as follows: tal
this country. The advance in wheat prices has failect to
513
THE CHRONICLE
FEB.19 1910.]
exert any influence upon sentiment in the flour trade. The
markets at the West and the Southwest have continued
quiet. The mills at Minneapolis and other Northwestern
centres have continued active. New business in that section
has been fairly active and there have been good-sized withdrawals on old contracts. There have been rumors in circulation of late that some of the Minneapolis mills were about
to close down but they have turned out to be groundless.
Rye flour and corn meal have been quiet and steady.
Wheat has again advanced, owing mainly to reports of
damage to the growing crop in this country. • They have
imparted noticeably increased strength to the spot markets.
The cash situation is really the sheet anchor. Shorts have
covered freely and there has been a larger amount of buying
for long account. Also there has been a sharp falling off in
the world's shipments. The total last week reached only
10,752,000 bushels, against 13,153,000 in the previous week
and 12,000,000f or the same time last year. The winterwheat receipts in this country have been so small as to be
something qf af.:ictor in the rise. St. Louis has been buying
futures at Chicago. A good demand for flour has prevailed
at Minneapolis. Moreover, whether the reports of damage
from Kansas, Missouri, fndiana and other States have
been exaggerated or not, their influence on the market admits of no question. It is said that there has been a good
deal of winter-killing in all of these States. Of late there
have been some beneficial snows in the Southwest, where
the snow covering seems to have in some sections to a considerable extent disappeared. On the rise cash people have
been selling futures. The world's available stock has increased somewhat, though it is true that the increase has been
only about half what it was for the corresponding week last
year. The foreign markets, too, were at one time rather
indifferent, though of late they have been noticeably strong,
not only in Europe but in Argentina. Buenos Ayres prices
have at times advanced sharply. Liverpool has reported
a better demand for La Plate and Australian wheat. On the
whole, bullish influences have been dominant, though in this
country the lack of export demand, together with an absence
of any very aggressive speculation, has probably prevented
prices moving up more sharply than they might have done
were foreign trade brisk and the speculation on a scale such
as existed at one time last year. At present the tendency
is undoubtedly to speculate for quick returns pending further
developments. Winter crop-scares have been proved by
experience to be even more unreliable than some of the crop
scares later in the season. To-day prices advanced a fraction
early on crop damage reports and small receipts. Later
there was a decline on heavy realizing.
GRAIN.
Cents.
Corn, per bushelWheat, per bushelelev. Nominal
No. 2 mixed
$1 27
N. Duluth, No. 1
Nominal
f.o.b.
yellow
No. 2
1 25
N. Duluth, No. 2
f.o.b. Nominal
No. 2 white
Red winter, No. 2___f.o.b. 1 31
Rye, per bushel1 27
Hard winter, No. 2
No. 2 Western_ __ _f.o.b. Nominal
Cents.
Oats, per bushelNominal
State and Jersey
Natural white
528% @55
80 ®83
Barley-Malting
53 %®57
White clipped
Ncmlnal
Feeding, c.l.f.,N.Y.
Nominal
Mixed
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Chicago .._
Milwaukee__
Duluth
Minneapolis_
Toledo
Detroit
Cleveland__ _
St. Louis_
Peoria
Kansas City.
Mon. Tues. Wed. Thurs. Fri.
112% 112% 114% 113% 113
May delivery In elevator
July delivery In elevator
Holl- 103% 103% 104% 104% 103%
September delivery in elevator_ __ _ day. 98% 98% 100% 998% 99%
Rye.
bbls.1961bs. bush.60 lbs. bush. 56 lbs. bush.32 lbs. bush.481bs. be.66 lbs.
24,000
543,000
176,400 2,901,250 1,504,800
135,685
24,000
286,00
168,000
267,300
80,300
52,565
11,508
126,08
227,867
18,365
230,295
426,00
87.410
292,170
287,310
2,196,420
8,000
28,500
69,400
61,000
37,355
120,016
3,599
11,260
1.076
4,85
57,219
279,487
1,092
2,244
7.000
70.7
494,400
436,700
209,079
48,330
8.700
53.20
235,800
3433,729
12,200
64.500
145,500
731,500
351,750
324,136
330,623
333,115
Tot.wk.'10
Same wk.'09
Same wk.'08
110,694
3,191,611 1,515,833
2,285,435 1.334.02
977,38
3,317,239
5,456,692
2,985,444
4,039,454
3,330.948
2,500,358
2,757,243
11.154
114,345
Since Aug. 1
1909-10... _ 12,419,771 182.808,356 100,734,498 23,710,231 52.539.687 4,865,217
1908-00_ __ 11,918,573 167,841,282 81,858,268 102.583,996 58.774.706 4,714,477
1907-08_ .._ 10,553,961 157,603,024 115,555,387 112,539,544 41.700.326 .068,899
Total receipts of flour and grain at the seaboard porta for
the week ended Feb. 12 1910 follow:
Flour,
bbls.
Receipts at-
119,438
New York
Boston
Portland, Me
Philadelphia
Baltimore
Richmond
New Orleans *
Newport News
Galveston
Mobile
Montreal
St. John
__
35,020
1,000
47,628
32,460
5,312
19,529
1,816
7,670
15,408
1,000
Wheat,
bush,
181,200
78,153
103,000
123,979
36,402
25,226
Corn,
bush.
176,050
121,789
Oats,
bush.
262,300
47,409
578,081
97,422
87,600
87.498
32,552
63,056
135,000
49,000
7,000
12,000
2,884
41,189
85,529
168,000
94.375
arra,
bush.
Rye,
bush.
73.960
860
10,350
738
C936
1,009
850,849 1,130,235
Total week 1910_ 287,287
Since Jan. 1 1910_2,086,341 8,344,133 8,098.619
280,155 1,722,592 1,339,622
Week 1909
Since Jan. 1 1909_1,701,277 7,681,299 7,613,351
31,262
716,970 106,063 20,021
4,300.528 418,457 141.149
11,519
611,196 85.189
4.472,463 665.188
60,978
1
* 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
Feb. 12 1910 are shown in the annexed statement:
ending
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Frt.
131
Exports from129% 129% 131
129
No. 2 red winter, f.o.b
Holt- 120% 120% 121% 1218% 121 % New York
May delivery In elevator
112% 112% 1118% Portland, Me..
day. 1118% 111
July delivery in elevator
Boston
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Philadelphia _ _
Sat.
Barley.1
Oats.
Corn.
Wheat.
Flour.
Receipts at--
Wheat,
bush.
111,808
103,000
238,611
Corn, Flour,
bbls.
bush.
164,863 33,303
1,000
Oats,
bush,
10,664
Rye,
bush.
4
6:330
216,416 1600
1,120
0,488
Barley. Peas.
bush.
bush.
9,880
516
330,000
8,634
582,576
304,000
Baltimore
New Orleans
Newport News
Galveston
Mobile
St. John, N. B
1,816
3,000
43,000
1,000
12,000 7,670
Indian corn futures have, advanced, owing mainly to the
1,000
168,000
strength in wheat. This has led to investment buying by
516
9,880
0,488
12,984
commission houses. Shorts have covered freely. MoreTotal week__ __ 951,419 1,322,855 86.759
51.385 27,647
8,937
1,778,611 1,595,225 144,867
over, there has been a larger demand for cash corn at the Week 1909
The destination of these exports few the week and since
Western markets at so me advance-in prices. Country offerings have fallen off and the receipts, though larger than a July 1 1909 is as below:
-.--Flour--- -------Irhcat
year ago, are smaller than recently. On the other hand,
Since
Since
Since
cash interests in some cases have sold freely on the strong
Week
fuly 1
July 1
Week
July 1
Week
1909.
1909. Feb. 12.
1909. Feb. 12.
spots, though the selling has not been aggressive. It is said Exportsfor week and Feb.12.
bush.
bush.
bush.
bush.
bbls.
bbls.
since July 1 tothat the corn that was under snow in many sections is being United
Kingdom__ 36,459 3,537,406 618,150 41,824,336 612,570 6.615,125
20,559 1,347,481 309,315 20,674,882 742,377 8,980.128
gathered in good condition. To-day prices, after an early Continent
9,000
497.220
232,832
& Cent. Amer_ 9,895 526,387
advance in company wi th wheat, weakened and declined on Sou.
58,100 1,352,059
3,675
19,808 899,873
West Indies
34,031
77,553
a set-back in wheat, selling by cash interests and profit-taking. Brit. Nor. Am.Cols
21,245
806
135,284
23,954
36 161,326
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK. Other Countries....
Sat. Mon. Tues. Wed. Thurs. Frt.
17,399,808
1,322,855
951,419
62,871,009
0,550,026
86,757
Total.
Nom
74
74
Cash corn
72% 73
144,867 7.080,675 1,778,611 87,297,812 1.595,225 19.548,046
Total 1908-09
Holt- 76% 76% 76% 76% 76
May delivery In elevator
76% 77% 77% 76 %
day. 76
July delivery in elevator
The world's shipments of wheat and corn for the week
IN
CHICAGO.
DAILY CLOSING PRICES OF CORN FUTURES
ending Feb. 12 1910 and since July 1 1909 and 1908 are shown
Sat.
May delivery' in elevator
July delivery in elevator
September,delivery in elevator_
Mon. Tues. Wed. Thurs. Fri.
66%
Holt. 67
day. 66%
678%
67%
67%
68 % 67 %
68 % 68%
68% 68%
668%
67%
67%
Oats for future delivery in the Western market have advanced in company with corn, though the trading much of
the time has been comparatively quiet. Still, commission
houses have made purchases and there has been scattered
covering of shorts. Cash houses have led the selling. Bears
nt of a heavy increase in the crop movement
are still
sooner or later. To-day prices were firmer early on the opening firmness in wheat and corn. Later weakness on the spot
and liquidation caused a decline.
DAILY CLOSING PRICES OF OATS INNEV YORK.
Tues.
Wed.
Frt.
Thurs.
Sat. Mon.
52 H-53
52 H-55
52 H-55
Natural white_ _ Holl- 52-528% 52 %-53
53 %-54% 53 %-54% 53 %-57% 53%57
White clipped..., day. 53-54
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat.
Mon. Tues. Wed. Thurs. Fri.
478%
May delivery in elevator
Holt- 43%
July delivery in elevator
September delivery in elevator_ _ _ _ day. 408%
47%
448/,
41%
48 % 478%
44 % 44%
41% 41
in the following:
Week
Feb. 12.
Bushels.
North Amer. 2,057,000
Russian _ _ _ _ 3,656,000
Danubian _ _ 250,000
2.806,000
Argentine
Australian.. 2,040.000
0th. countr's 368,000
Bushels.
101,227.000
143,416.000
14,314,000
21,910,000
16,612,000
32.072.000
Since
July 1.
Week
Feb. 12.
Bushels. Bushels.
130,636,700 878,000
43,792,000 213,000
27,688,000 221,000
51,339,000 102,000
17,088,000
13,074,000
Bushels.
17,278,000
11.644,000
15,142,000
59,164,000
Since
duty 1.
Bushels.
19,207,400
10,364.500
17,154,500
43,374,500
Total _-__ 11177000 329,551,000 283,617,700 1,414,000 103,228,000 90,100,900
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheal.
The following are closing quotations:
Since
July 1.
Since
July 1.
1908-09.
1909-10.
1908-09.
1909-10.
47
44
40%
FLOUR.
Winter, low grades____$4 40(364 60 Kansas straights, sack..$5 25@$5 40
6 15 Kansas clears, sacks__ 4 30® 4 65
Winter patents
5 75
6 801 7 10
Winter straights
5 40@ 5 70 City patents
4 00
4 60
Winter clears
5 00, 5 25 Rye flour
___.
4 50
Spring patents
5 00 Graham flour
5 50
Spring straights
5 30@ 5 50 Corn Inn!, kiln dried__ 3 20® 3 30
Spring clears
4 50® 4 85
Corn.
1Vhcat.
Exports.
United
Kingdom. Continent.
Feb. 12 1910._
Feb. 5 1910._
Feb. 13 1909_
Feb. 15 1908_
torn.
Total.
Bushels. Bushels. Bushels.
26,800,000 11,040,000 37,840.000
24,800,000 8,160,000 32,960,000
28,000,000 18,880,000 46,880,000
34,440,000 16,160,000 50,600,000
United
Kingdom. Continent.
Bushels.
Bushels.
3,060,000
4,080,000
3,655,000
2,840,000
4.420,000
4,845.000
2,380.000
4,120.000
Total.
Bushels.
7,480,000
8,925,000
6,035,000
0,960,000
514
THE CHRONICLE
5,656,000
1,576,000
2,616,000
7,000
410,000
257,000
1,048,000
1,639,000
262,000
535,000
1.149,000
254,000
592,000
302,000
80,000
Total Feb. 12 1910. _25,819,000 10,528,000
8,757,000
Total Feb. 5 1910_ _25,525,000
9.100,000 8,710 000
Total Feb. 13 1903_ _41,472,000
6,565,030
9,607,000
CANADIAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
bush.
bush.
bush.
Montreal
116,000
27,000
305,000
Fort William
1,941,000
afloat
"
160,000
Port Arthur
3,206,000
Other Canadian
5,661,000
Total Feb. 12 1910_ _11,084,000
Total Feb. 5 1910..i1,690,000
Total Feb. 13 1909._ 6,491,000
American
Canadian
TVheat,
bush.
25,819,000
11,034,000
27,000
305,000
28,000
321,003
28,000
217,003
SUMMARY.
Corn,
Oats,
bush.
bush.
10,528.000 8,757.000
27,000
305,500
Rye,
bush.
33,000
Barley,
bush.
144,000
1,000
100,000
136,000
83,000
86,000
43,000
61,000
285,000
5,000
1,000
24,000
740,000
280,000
1,151,000
97,000
3,000
802,000 2,810,000
770,000 2,802,000
763,000 3,911,000
Rye, Barley,
bush.
bush.
52,000
52,000
53,000
MMW
Rye,
Barley,
bush.
bush.
802,000 2,810,000
52,000
Total Feb. 12 1910_ _36,903,000 10,555,000
9,062.000
802,000 2,862,000
Total Feb. 5 191037,215,000
9,528,000
9,031,000
779,000
855,000
Total Feb. 13 1909__47,963,000
9,824,000
6,593,000
763,000 3,997,000
Total Feb. 15 1908_ A5,639,000 8,559,000
9,677,000
828,000 4,986,000
Total Feb. 16 1907_ _43,585,000 9,448,000 11,212,000 1,606,000 2,471,000
Total Feb. 17 1906.._47,252,000 15,187,000 26,223,000 2,338,000 4,609,000
THE DRY GOODS TRADE.
New York, Friday Night, Feb. 18 1910.
One of the most noteworthy developments of the week in
textile markets was the substantial increase in the volume
of business done by jobbing houses. In fact, the past few
days were among the most active experienced in a long time
and formed a sharp contrast to the recent dulness. Special
offerings at attractiue prices, particularly the sale of a large
quantity of dress goods by the H. B. Claflin Co. on Wednesday, Thursday and Friday, acconnted for much of the
activity noted. Many buyers were present, and not only
took advantage of the various "specials" but were in evidence in other departments and operated on a more liberal
scale and apparently with more confidence than in weeks
past. Staple domestic cottons, prints, white goods, &c.,
were well patronized, especially summer lines of wash fabrics, while a much better business was reported in ready-towear merchandise, retailers who have been holding off
showing a disposition to stock up, though in a conservative
way, in made-up lines. The Claflin sale attracted much
attention; buyers from many sections, including jobbers,
ratailers and cutters, were present, and the offerings, which
included plain and fancy serges, batistes, panamas, diagonals, suitings, voiles and various other fabrics below regular
prices, were readily disposed of. Conditions in the primary
cotton goods market remained practically unchanged. A.
little broader inquiry and business developed, but transactions were of moderate size. In the print cloth and gray
goods divisions most of the orders were to cover immediate
or near-by needs of printers and converters. The latter continued to press for concessions on contracts and are seemingly
ready to operate for the future on a basis close to spot prices.
On gray goods of certain constructions some mills are said
to have granted concessions in order to move large lots at
once; on contracts, however, manufacturers generally are
firm, owing to the continued high cost of the staple. Lines
of plain staple hosiery for fall were opened at prices about
7c. to 10c. a dozen higher than a year ago, selling agents
apparently following the policy adopted in other quarters
of making only moderate advances. The new prices are
said to be very close to costs. An important development
was the action of Fall River operatives in voting to withdraw
from the existing wage agreement and to propose to the
manufacturers an amended form of sliding-scale agreement
which, it is reported, amounts practically to an increase in
wages. The present agreement expires in the latter part of
May. The result of the negotiations is now uncertain,
although indications point to a further curtailment if operatives demand better terms and conditions in the primary
market do not improve. The men's wear market showed
considerable irregularity; in some quarters certain lines continued to move well, but elsewhere business was slow,
notably on fancy piece-dyed worsteds. In dress goods an
active and somewhat broader demand was reported.
DOMESTIC COTTON GOODS.-The exports of cotton
goods from this port for the week ending Feb. 12 were 3,047
packages, valued at $286,101, their destination...being to the
points specified in the tables below:
Total
372,000
12,000
Week.
11
43
3,047
18,843
-1909
Since
Jan. 1.
153
78
21,218
1,955
4,044
Week.
19
1
13,039
1,228
_
lin
1,038
582
46
411
1,878
126
4,830
302
2,263
6,050
1,882
17,511
43,811
The value of these New York exports since Jan. 1 has been
$1,451,313 in 1910, against $2,235,585 in 1909.
Staple domestic cottons generally were in better request,
and a larger volume of business done in jobbing houses than
for some time past. Application on wash fabrics for spring
and summer was especially good, while prints were taken
more freely. Dress gingharns met with a steady sale, an
improved demand being noted for moderate-priced fancies,
supplies of which are reported as rather limited. A fair
amount of business was reported in bleached goods, drills
and sheetings. Export trade with the Far East remained at
a standstill; an inquiry was received from China for 3-yard
sheetings, but the price offered, although showing a slight
advance, was still much below the market here; trade with
miscellaneous ports continued moderate. Trading in print
cloths was quiet; regulars are quoted unchanged, but standard
wide goods are a shade easier at 55Ac.
WOOLEN GOODS.-Dress goods generally displayed
considerable activity. A substantial business on piece-dye
worsteds for fall came forward from jobbers and the manufacturing trade, and rough effects were well patronized.
An unusually large yardage of goods is under order for
spring, the call running principally to serges and diagonals,
although broadcloths enjoyed a good sale. In men's wear
lines, the activity of carded woolen goods and staple worsteds
for fall was well maintained, and leading producers are reported well sold; bookings on serges and some other fabrics,
in fact, exceed those of last year for the corresponding period.
Fancy piece-dyed worsteds, on the other hand, were more or
less neglected, clothiers claiming that prices named are too
high to permit a satisfactory distribution.
FOREIGN DRY GOODS.-Lines of imported woolens
and worsteds for the fall season are being shown and a fair
business was done on these during the week; salesmen now
on the road reported favorable results, especially on serges.
Linens continued strong and active; importers, in placing
new orders abroad, were obliged to pay advances, which
caused a corresponding increase in prices here for late deliveries. The burlap market ruled quiet; light-weights are
quoted at 3.40c. and heavy-weights at 4.40@4.45c.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending Feb. 12 1910 and since
Jan. 1 1910, and for the corresponding periods of last year
are as follows:
,11.747g8
• vz ...v.
04
.00a.
o
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%
3
00000
t.0
00
ON
0040
0000
VM
oo
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23,236.272
New York
afloat
"
Boston
Philadelphia
Baltimore
New Orleans
Galveston
Buffalo
afloat
Toledo
afloat
Detroit
afloat
Chicago
Milwaukee
Duluth
"
afloat
Minneapolis
St. Louis
Kansas City
Peoria
Indianapolis
AMERICAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
bush,
bush,
bush.
739,00
421.000
1,016,000
58,000
217,000
131,000
209,000
36,000
30,000
670,000
1,645,000
152,000
3,000
519,000
190,000
95,000
28,000
2,259,000
17,000
211,000
3,103,000
572,000
141,000
88,000
104,000
230,000
309,000
49,000
369,000
2,415,000
3,089,000
1,906,000
300,000
451,000
473,000
4,269,000
2 209,000
-1910-Since
Jan. 1.
195
135
35
6
_
1,082
-8-2
663
360
3,288
10
154
2861,015
834
6,823
1,421
5,447
New York to Feb. 12Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other Countries
18.856,205
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Feb. 12 1910, was as follows:
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THE CHRONICLE
FEB. 19 1910.]
STATE Ain
CITY DEVAIIIMENT,
News Items.
Japan.—Bond Offering.—Subscriptions will be received
by the Yokohama Specie Bank, Limited, 55 Wall Street,
New York City,for the new 4% refunding loan of 100,000,000
Yen. Lists will be Closed in Japan on February 25, the
allotment to be announced on March 5.
Foreign holders of Japanese Internal 5% bonds who desire to avail
themselves of the offer of conversion may do so under tile following terms:
5% bonds accepted for conversion are limited to internal issues. 5%
bonds on which semi-annual coupons are payable on March 1st are to be
computed at en 100.75 cash for each yen 100 face value (March coupon
first
off). These bonds on which the semi-annual coupon matures on the
value.
of June to be computed at Nen 102 cash for each yen 100 face
and
value,
face
50
is
bond
yen
4%
new
The smallest denomination of the
any smaller amount than yen 50 that may remain after the conversion
cash.
in
paid
will be
as
Subscriptions for the new 4% bonds may be made in cash, payableand
1
follows: 5 yen on application, 20 yen on March 15, 20 yen on Aprilshould
yen
price
95
of
minimum
the
over
premium
Any
2.
May
on
50 yen
be paid together with the second installment.
The priority will be given primarily to applications for conversion of 5%
bonds. In case of over-subscription, allotment will be made to the highest
bidders until the amount of issue is apportioned.
Interest on the new bonds is payable in Japan, coupons being due June 1
and Dec. 1. Bond to run for 60 years, redeemable at par, with the option
to the Japanese Government to redeem all or any after ten years from the
date of Issue.
Park County (P. 0. Cody), Wyo.—Formation of County
Declared Legal by State Supreme Court.—The State Supreme
Court upholds the Act passed by the last Legislature (Chapter
19, Laws of 1909) creating- the county of Park out of the
northwestern portion of Big Horn County. The decision
is the result of a suit brought by the Commissioners
of Big Horn County to restrain the Commissioners of the
provisional county from certifying the returns from a special
election held for the purpose of ascertaining the sentunent
of residents within its boundaries in regard to the organization of the new county.
Pittsburgh, Pa.—Litigation.—Injunction proceedings were
commenced in the U. S. Circuit Court on Feb. 14 to prevent
the issuance of the $6,775,000 bonds voted at the last general
election. See V. 90, p. 254. The action is brought by F. H.
Kerr of Steubenville, Ohio, and A. E. Anderson of Pittsburgh for Sarah Chostkov of Steubenville, who owns property
in Pittsburgh.
515
warrants to build a court house and jail; or must an election
be held and bonds issued for the construction of such buildings?" The answer to this inquiry is written by J. T.
Sluder, Assistant Attorney-General, and expresses the
opinion that a county has the power to issue interest-bearing
warrants for the purposes in question without submitting
the matter to a vote. It is pointed out that the law allows
either the issuance of warrants or bonds for the erection I f
court houses and jails, but provides that the question
issuing bonds shall be ratified .by a majority of the vot
at such an election. No such provision, it is said, exi
with reference to the issuance of warrants.
Willow Marsh Drainage District, Jefferson County,Tex.—
Litigation.—Mandamus proceedings were commenced Feb. 5
in the Sixtieth District Court by It. W. Gallier, representing
the Willow Marsh Drainage Commissioners, to compel the
County Commissioners to issue bonds voted by the district
and levy a tax for the payment of the same. An issue of
$60,000 bonds of this district was offered for sale on Nov. 14
1908. See V. 88, p. 119.
Bond Calls and Redemptions.
Galveston, Tex.—Bond Call.—Interest will cease on
March 17, on "General Indebtedness Funding Bonds of 1895
of the City of Galveston", issued in 1895 and numbered
36, 38, 39, 40,and from 43 to 86 inclusive. They are in
denominations of $1,000 and will be redeemed at the City
Treasurer's office, or at the option of the holder, at the
fiscal agency of Galveston in New York City.
Bond Proposals and Negotiations this week
bean as follows
Albany-East Albany, Ga.—Annexation.--ifhe voters of
East Albany on Feb. 5 voted in favor of annexation to the
city of Albany.
Allegheny County (P. 0. Pittsburgh), Pa.—Bonds Authorized.—The County Commissioners have authorized the issuance of $300,000 4% 20-year poor-farm bonds. These
securities are in addition to the $100,000 bonds authorized
some time ago for the same purpose. We are informed that
the entire issue will probably be disposed of to the Sinking
Fund Commission and it is not likely that it will be adverThe petition asserts that the ordinance providing for the bond election
unlawfully directed that several questions should be submitted to the tised for sale.
voters as one, thereby depriving the electors of their "right" to vote on
Aliquippa School District (P. 0. Aliquippa), Beaver
the questions separately, and that the ballots used at the election were so
printed as to prevent the electors from expressing their assent to or dissent County, Pa.—Bonds Voted.—The election held Feb. 15 recontained.
therein
propositions
from the different
sulted in favor of the proposition to issue the $45,000 43%
The claim is made that the improvement of the "hump" will cause
$3,000,000 damages to property in addition to the cost of the actual work; school-building and equipment bonds mentioned in V. 90,
Showing
authorities.
that this item of damages was not considered by the
p. 249. The vote was 92 "for" to 59 "against."
what the assessed taxable valuations of property in the city is, the petition
Altoona, Pa.—Bond Election.—An election will be held in
that the city's bonding power, without first taking a vote of the people,
amounts to only $918,914. It is asserted that for that reason the item April to vote on the question of issuing $250,000 bonds.
of $3,000,000 damages cannot be paid legally.
It is asserted that the proposed changes of street grades in the hump
Ansley School District No. 44 (P. 0. Ansley), Ouster
district are not a lawful municipal Improvement, for the reason that the County, Neb.—Bond Not Sold.—No satisfactory bids were
hump would not be removed, but that the grade would be reduced from a
Insignificant
7 per cent to a 6 per cent grade, which result is declared to be
received on Feb. 10 for the $17,000 43'% 20-year coupon
and out of all proportion to the cost and expenses of the work.
equipping bond described in V. 90, p.
The petition charges that the board of city assessors is illegally con- school-building and
stituted and has no authority to assess the petitioner's property for the 249. We are informed that the loan "will now be offered
payment of the proposed indebtedness, it being alleged that Assessors
parties."
Thomas J. Hawkins, Thomas C. McMahon, William G. Manning, John G. privately or handled by local
Hastings, Joseph P. McKee and Edward J. McIlvaine have not lived in
Atlanta, Ga.—Bonds Voted.—The election held Feb. 15
Pittsburgh the 10 years required by the statute, and that the assessors in
resulted in favor of the propositions to issue the following
assessing property acted on fanciful and unlawful theories.
p. 459.
Texas.--Question of Vulidity of Bonds Issued by County Line 432% bonds mentioned in V. 90,
bonds. Maturity part yearly on Jan. I from 1911 to
School Districts Decided by Attorney-General.—In giving his $1,350,000 sewer
1940 inclusive.
900,000 water-works extension bonds. Maturity part yearly on
opi ion on Feb. 4 as to the validity of bonds to be issued by
Jan. 1 from 1911 to 1940 inclusive.
the Mart Independent School District, the Attorney-General
600,000 school-building and lot purchase bonds. Maturity part yearly
on Jan. 1 from 1911 to 1940 inclusive.
decides an important question affecting school districts
100,000 Grady Hospital extension bonds. Maturity 30 years.
W ose boundaries include part of two or more counties. The
50,000 crematory-plant and lot-purchase bonds. Maturity 30 years.
case just decided is outlined as follows in the "Houston Post"
We are advised that there were 8,475 votes cast "for"
of Feb. 5:
the bonds and 66 "against."
Austin, Texas, Feb. 4.—Attorney-General Lightfoot to-day gave an
opinion in the Mart school matter settling a question of considerable moBarre, Vt.—Bond Offering.—Proposals will be received
ment. The town of Mart is in an independent school district in which is
City Treasurer, for
included portions of Falls, McLennan and Limestone counties, which dis- until 7 p. m. Feb. 24 by James Mackay,
trict was invalidated by the Supreme Court in the Mertens or county line $40,000 4% coupon school bonds.
Mart,
incorwhich
had
town of
Independent school district case. The
porated subsequently to the creation of the Mart Independent School District upon the handing down of the decision In the Mertens case,assumed the
control of its schools and levied a tax to run them as well as to provide for a
sinking fund and the payment of interest on an outstanding bond issue of
the district. In tile meantime a constitutional amendment was adopted
validating all county-line school districts affected by the decision in the
Mertens case. Recently the Mart school house was destroyed by fire and
in endeavoring to provide for its reconstruction the town authorities came
face to face with the fact that the constitutional limit of taxation had been
reached by them and that they were at this time without authority to create
a new debt for the replacing of the destroyed building.
The matter having been laid before the Attorney-General he held that
the constitutional amendment validating county line districts places the
Mart district right where it was before the Mertens decision was rendered;
that Is, in control of the Mart schools. Under this decision the money accumulated by the town of Mart as a sinking fund for the bonds of the district as well as the insurance on the burned building reverts to the district.
With this money the outstanding indebtedness of the district for the discharge of which the town of Mart made provision can be liquidated and the
district can issue new bonds to secure funds with which to build a new
schoolhouse.
In this connection it is interesting to note that the county-line districts
validated by the amendment in question are now constitutional districts—
that is, their boundaries can not be changed nor their organization extinguished except by constitutional amendment,: as no power to do either
is conferred upon the Legislature in the amendment that validates them.
The constitutional amendment referred to above which
validated those districts having within their limits territory
situated in two or more counties was given in full in the
"Chronicle" of May 22 1909, page 1329.
Attorney-General's Opinion as to Power of Counties to Issue
Warrants for Court House and Jail.—The Tax Assessor of
Chambers County recently requested the Attorney-General's
Department for an opinion as to whether the County Commissioner's Court is authorized "to issue interest-bearing
Denomination $1,000. Date Sept. 1 1909. Interest semi-annually
at the City Treasurer's office. Maturity $5,000 yearly on Sept. 1 from
1912 to 1919 inclusive. Bonds will be certified. as to genuineness by the
City Trust Co. of Boston, which will further certify that the legality of the
issue has been approved by Ropes, Gray & Gorham of Boston, a copy of
whose opinion will be delivered without charge to the purchaser.
Bartow County (P. 0. Cartersville), Ga.—No Action Yet
Taken.—We are informed under date of Feb. 12 that no
action has yet been taken looking towards the issuance of the
$200,000 bonds mentioned in V. 90, p. 122.
Basin, Bighorn County, Wyo.—Bond Sale.—An issue of
$25,000 6% 15-30-year (optional) water-works bonds has
been disposed of ht private sale. Bids for these bonds were
first opened Jan. 18, but they were all rejected. The bonds
were then re-advertised for sale and bids were asked for until
Feb. 14. In the meantime, however, arrangements were
made with a former bidder who purchased them, as above
noted, at private sale. Denomination $500. Date Jan. 1
1910. Interest annual.
Beatrice, Gage County, Neb.—No Action Yet Taken.—
Up to Feb. 10 it had not yet been decided whether or not
the water-plant bonds mentioned in V. 90, p. 63, would
be issued.
Bell County (P. 0. Belton), Tex.—Bonds Registered.—
On Feb. 2 the State Comptroller registered $24,000 4% 1040-year (optional) refunding bridge bonds.
Berea Special School District No. 2, Whitewater Township, Hamilton County, Ohio.—Bond Offering.—Proposals
516
THE CHRONICLE
[VoL. Lxxxx.
will be received until 12 m. Feb. 25 by E. H. Chidlaw, Clerk year 1909 this city disposed of $274,600 general
bonds and
of the Board of Education (P. 0. Cleves R. R. No. 1), for $44,290 special assessment bonds.
The sales of a large part
$5,000 43e6% school-building bonds.
of these issues have been reported in this Department at
Authority Sections 3991 and 3992, Revised Statutes, as amended; also
an election held Jan. 25 1910. Denomination *500. Date, "day of various times during the year. The following list, however,
sale." Interest March 1 and Sept. 1 at the Hamilton County Bank in includes all the general bonds disposed of:
Cleves. Maturity $500 yearly on March 1 from 1911 to 1920 inclusive. Amount.
Purpose.
Date. Int. Rate.
Maturity. .
Certified check for $50, payable to the Clerk of the Board of Education, is $135,000
Public Service Def.
Feb. 1 1009
35,000 Market Houge
Feb. 1 1909
x3,500 Engine House
Feb. 1 1909
a6,500 Levee Imp.
April 1 1909
z1,700 Edgewater Ave.
April 1 1909
9,000 Webster St. Bridge
May 1 1909
x20,000 General St. Repair
June 1 1909
1,400 Storm Water Sewer
June 1 1909
4,500 Water Course
June 15 1909
20,000 General St. Imp.
July 1 1909
x1,000 Bridge Repair
Aug. 1 1909
x4,000 Storm Water Sewer
Sept. 1 1909
x5,800 Second St. Opening
Sept. 1 1909
Denomination $500, except one bond of $200. Date May 1 1910. In2,2
By-Pass Sewer
Oct. 1 1909
terest on Jan. 1 and July 1. Maturity $2,500 each six months from July 1
z1,500 Engine House Tower
Oct. 1 1909
1011 to July 1 1920 inclusive and $1,200 on Jan. 1 1921. Certified check
8,500 General St. Imp.
Oct. 1 1909
for *1,000 is required. C. H. Plessinger is Treasurer of the School Board.
z5,000 Gen. St. Imp. & Rep. Oct. 1 1909
4,000 Wayne Ave. Imp.
Oct. 1 1909
Bottineau County (P. 0. Bottineau), No. Dak.-Bond Of6,000 Fire Engine
Nov. 1 1909
fering.-Proposals will be received until 2 p. m. Feb. 23 by --- zHeld in Sinking Fund. a $2,000 of this issue
J. P. Simon, County Auditor, for $7,000 6% registered drainrequired. Purchaser to pay accrued interest.
Bismark, No, Dak.-Bonds Voted.-The $50,000 4%
20-year city-ha'l bonds mentioned in V. 90, P. 388, carried
by a vote of 381 to 74 at the election held Feb. 10. We are
informed that they will probably be sold to the State.
Bluffton School City (P. 0. Bluffton), Wells County,
Ind.-Bond Offering.-Proposals will be received until 2
p. in. March 10 for $48,700 4% school-building bonds.
4%
1910-1924
4%
1920-1921
4%
1924
5%
1910
5%
1910
5%
1910-1912
5%
1911
5%
1010
5%
1911
4%
1911-1920
5%
1911
5%
1910
5%
1911
5%
1910
5%
1911
1910-1917
5%
5%
1911-1915
5% 1913 .'15,'17 & '19
5%
1910-1912
held in Sinking Fund.
The assessment bonds disposed of in 1909 were as follows:
construction bonds.
Authority. Chapter 93, Code of 1905. Denomination $500. Date
Feb. 23 1910. Interest annually on May 2. Maturity part yearly on May 2
for 10 years. Certified check for $140, payable to the County Auditor,
Is required.
Brawley,Imperial County, Cal.-Bond Sale. ---The $44,000
5% gold coupon water-works bonds described in V. 90,
p. 250, were sold on Feb. 5 to James H. Adams & Co. of
Los Angeles at par and accrued interest. No other bidders.
Maturity Jan. 1 1930, with privilege of prior payment.
Canton Union School District (P. 0. Canton), Stark
County, Ohio.-Bond Sale.-The $36,000 4% 20-year coupon
school-improvement bonds described in V. 90, p. 317, were
sold on Feb. 17,.dispatches state, to H. E. Fife of Canton at
101.95-a basis of about 3.86%.
Carroll, Wayne County, Neb.-Bond Sale.-We are ad9% water-works bonds that were
vised that the $9,000 53/
offered but not sold (V. 90, p. 123) on Oct. 8 1909 have been
awarded to the Peters Trust Co. of Omaha.
Denomination $500. Date Feb. 1 1910. Interest semi-annual.
turity Feb. 1 1930, subject to call after 5 years.
Ma-
Chehalis County (P. 0. Montesano), Wash.-Bonds Proposed.-It is reported that the County Commissioners propose
to issue $250,000 road and bridge bonds.
Chester, Delaware County, Pa.-Bonds Voted.-The election held Feb. 15 resulted in favor of the proposition to issue
the $600,000 bonds mentigned in V. 90, p. 460. The vote
was 2,841 "for" to 1,050 "against." Details of bonds will
be decided after April 1.
Clarksburg, Harrison County, W. Va.-Bond Sale.-The
$48,400 refunding and the $221600 water, pavina and
sewerage 4
gold coupon bonds, bids for which° were
rejected on Nov. 5 1909 (V. 89, p. 1294), have been disposed
of at par and accrued interest to the following banks of
Clarksburg: $50,000 to the Empire National Bank,$50,000 to
the Merchants' National Bank,$50,000 to the Union National
Bank, $50,000 to the Lowndes Savings Bank & Trust Co.,
$40,000 to the Farmers' Bank, $20,000 to the West Virginia
Bank and $10,000 to the Home Bank for Savings. The
bonds are dated Oct. 1 1909 and mature Oct. 1 1939, but
are subject to call after Oct. 11918.
Clatsop County School District No. 1 Ore.-Bond Offering.
-Proposals will be received until 2 p. in. Feb. 25 by William
A. Sherman, County Treasurer (P. 0. Astoria), for $75,000
5% school bonds.
Authority vote of 59 for to 21 against at election held July 15 1909.
Interest semi-annual. Maturity 20 years, subject to call after 10 years.
Certified check for $1,500, payable to the County Treasurer, is required
Cliffside Park School District (P. 0. Cliffside), Bergen
County, N. J.-Bond Offering.-According to dispatches,
proposals will be received until 8 p. in. Feb. 23 by J. F.
Kelly, District • Clerk, for $74,000 5% 263
4-year (average)
school bonds. Interest semi-annual. Certified check for
•
$7,400 is required.
Coal Grove, Lawrence County, Ohio.-Bonds Refused.An issue of $8,000 5% bonds recently awarded to the Ohio
Savings Bank & Trust Co. of Toledo has been refused by
them upon the advice of their counsel.
Columbia City, Whitley County, Ind.-Description of
Bonds.-We are advised that the $13,000 water-works and
electric-light bonds awarded on Jan. 24 to the First National
Bank of Columbia City at 107.43 (V. 90, p. 389), carry
annual interest at the rate of 6%. The bonds were disposed
of at an interest basis of about 5.045% to the optional date
and about 5.277% to full maturity.
Denomination $500. Date Feb. 1 1910.
ect to call after Feb. 11920.
Maturity Feb. 1 1025, sub-
Amount.
Date.
$750_ _ _ _Feb. 1 1909
400eb. 1 1909
900_ ___ April 1 1909
540- - April 1 1909
9,000_ _ _ _ April 11000
1,500_ __April 1 1909
7,000____Mch. 1 1909
4,000____May 1 1909
8,000---- Aug. 1 1909
11,300_ _ _ _Oct. 1 1909
900___ _Nov. 1 1909
Purpose.
Findlay Street Improvement
Zeigler Street Improvement
Street Sprinkling
Sidewalk Improvement
Sewer District No. 5
Sewer District No. 9
Great Miami Boulevard
Indiana Ave. Imp.
Wyoming St. paving
Sewer District No. 4
2d Alley E. of Wayne Ave.
Denver-St. Vrain Irrigation District (P. 0. Fort Lupton),
Weld County, Colo.-Bond Sale.-The Trowbridge & Niver
Co. of Chicago has purchased $1,250,000 6% irrigation bonds,
Denomination $500. Date Sept. 1 1909. Interest June and December.
Maturity 5% in 1920, 6% in 1921, 7% in 1922,8% in 1923, 9% in 1924
10% in 1925, 11% in 1926, 13% in 1927, 15% in 1928 and 16% in 1929.
Duluth, Minn.-BondsVoted.-An election held Feb. 1
resulted in favor of a proposition to issue $200,000 water
and light bonds. The vote was 6,045 "for" to 1,272 "against."
Dunkirk, N. Y.-Bonds Proposed.-A bill providing for
the issuance of $100,000 municipal-dock bonds is before the
Legislature.
East Grand Forks School District (P. 0. East Grand
Forks), Polk County, Minn.-Bonds Proposed.-We are
informed that this district expects to borrow $18,000 from
the State of Minnesota.
Eau Claire, Wis.-Commission Plan of Government.Adopted.
-Reports state that the commission plan of government was
adopted by a vote of 1,867 to 994 at an election held Feb. 15.
Ellwood City, Lawrence County, Pa.-Bonds Voted.-The
election held Feb. 15 resulted in favor of the proposition to
issue the $30,000 subway and $10,000 sewer bonds mentioned in V. 90, p. 389. The vote was 427 "for" to 131
"against."
Emery County (P. 0. Castle Dale), Utah.-Bond Offering.
-Proposals will be received until 10 a. in. Feb. 28 by Nephi
L. Williams, County Treasurer, for the $35,000 5% steelbridge-construction and main-road-improvement bonds described in V. 90, p. 318.
Authority vote of 528 to 125 at an election held Jan. 8 1910, Denomination $1,000. Date Feb. 7 1910. Interest March 1 and Sept. 1 at the
County Treasurer's office in Castle Dale. Maturity 20 years, subject to
call after 10 years. Total bonded debt, including this issue, $43,500. No
floating debt. Assessed valuation 1009, $
,
2,325,726. Real value (estimated), $6,000,000. Certified check for 5% of bonds bid for, payable to
the County Treasurer, is required.
Florence School District(P.0.Florence), Douglas County,
Neb.-Bonds Voted.-The election held Feb. 12 resulted in
favor of the proposition to issue the $8,000 43/9% building
bonds mentioned in V. 90, p. 460. The vote was 102 "for'
to 15 "against." Maturity $2,000 yearly on Jan. 1 from
1920 to 1923 inclusive.
Foard County (P. 0. Crowell), Tex.-Bond Sale.-The
County Clerk writes us that the $60,000 5% court-house
bonds registered by the State Comptroller on Dec. 27 1909
and authorized by the voters on June 12 1909(V. 90, p. 124)
"have been sold several months." Maturity 1949, subject
to call after 1919.
Gallatin School District,(P.0. Gallatin), Daviess County,
Mo.-Bond Offering.-Proposals will be received until 2 p. m.
Feb. 21 by Boyd Dudley, Chairman of Finance Committee,
for $32,500 43/9% school-building and furnishing bonds.
Authority vote of 285 "for" to 103 "against" at election held June 3
1909. Bonds are registered with the State Auditor. Date Nov. 1 1909.
Interest semi-annually at any bank in Gallatin or at the National Bank of
Commerce in St. Louis. Maturity Nov. 1 1929, subject to call as follows:
$7,500 after Nov. 1 1914, $10,000 after Nov. 1 1919 and $10,000 after
Nov. 1924. Purchaser to pay accrued interest. No debt at present.
Assessed valuation $858,999. Official notice states that there has never
been a default or contest in the district.
Columbus, Muscogee County, Ga.-Bonds Voted.-The
Garrettsville, Portage County, Ohio.-Bond Offering.proposition to issue the $100,000 43/9% 30-year gold coupon Proposals will be received until 12 in. Feb. 26 by L. V.
bridge-building bonds mentioned in V. 90, p. 318, was Snow, Village Clerk, for $3,730 81 5% coupon street-paving
favorably voted upon Feb. 12. The vote was 1,077 to 3.
assessment bonds.
Denomination $1,000.
yet determined.
Interest semi-annual.
Date of offering not
Authority Section 95, Municipal Code. Denominations: 5 bonds of
$254 83 each, 5 bonds of $254 82 each and 2 of $591 28 each. Date Feb. 15
Conshohocken, Montgomery County, Pa.-Bonds Voted.- 1910. Interest in June and December at the Village Treasurer's office.
Maturity $591 28 on Aug. 15 1910, $591 28 on Feb. 15 1911, $2,4 83
It is reported that a proposition to issue $100,000 street-im- yearly on Aug. 15 from
1911 to 1915 inclusive and $254 82 yearly on
provement bonds carried by a vote of 807 to 246 at the recent Aug. 15 from 1916 to 1920 inclusive. Bonds are exempt from taxes.
Certified check for 5% of amount of bonds bid for, payable to J. M. Robinelection.
son, Village Treasurer, is required. Purchaser to pay accrued interest.
Dayton, Ohio.-Bond Sales For 1909. The Annual
Georgetown, Scott County, Ky.-Bonds Not Sold.-No
Report of the Sinking Fund Trustees shows that during the award was made on Feb. 14 of the $20,000 filter and the
FEB. 19 1910.1
THE CHRONICLE
15,000 storm-sewer 4% coupon bonds described in V. 90,
v. 460.
Glens Falls, N. Y.-No Bonds Sold.-We are advised that
there must be some mistake in the reports that this city sold
158,000 4 2% bonds to John Ryan of Glens Falls, as no bonds
have been issued.
Grainger County (P. 0. Rutledge), Tenn.-Bond Sale.The $100,000 5% 30-year coupon road bonds described in
V. 90, p. 319, were awarded on Feb. 12 to W. H. Gass,
President of the Knoxville Banking & Trust Co. of Knoxville, at 103.25 and accrued interest. The following bids
were also received:
Harris Tr. & Say. Bk., Chic.$103,1801 A. J. Hood & Co., Detrolt.$101,150
S. A. Kean & Co. Chicago.. 102,100 John Nuveen & Co., Chic__ 100,250
Thos. J. Bolger CO., Chic__ _ 101,610 Seasongood & Mayer, Cin__ 100,000
Hamburg Union Free School District No. 1 (P. 0. Hamburg), Erie County, N. Y.-Bonds Not Sold.-We are advised that no bids were received on Feb . 7 for the
$45,000 4% 1-30-year (serial) gold bonds described in
V. 90, p. 252.
Hamilton, Butler County, Ohio.-Bond Offering.-Proposals will be received until 12 m. March 14 by H. A. Grlinmer, City Auditor, for the following 432% 1-10-year (serial)
street-improvement bonds.
$16,155 00 South Front St. bonds. Date Jan. 15 1910.
10,529 00 Miliville Ave. bonds. Date Jan. 15 1910.
7,391 00 North Tenth St. bonds. Date Jan. 15 1910.
2,601 10 Park and Dick Ave. bonds. Date Feb. 1 1910.
510 50 Laurel Ave. bonds. Date Jan. 15 1910.
Interest semi-annual. Certified check for 5% of bid, payable to the City
Treasurer, is required.
Harrisburg, Dauphin County, Pa.-Bonds Voted.-The
•election held Feb. 15 (V. 90, p. 319) resulted, according to
report, in favor of the proposition to issue $641,000 4% 530-year (serial) bonds for street paving, sewers, improvement of sanitary conditions and for a bridge.
Bonds Defeated.-At the same election two propositions to
issue bonds aggregating $400,000 were defeated.
Haverhill, Essex County, Mass.-Bond Offering.-Proposals will be received until 10 a. m. Feb. 24 by Arthur T.
Jacobs, City Treasurer, for $153,000 4% coupon bonds.
Denomination $1,000. Date Feb. 1 1910. Interest semi-annually at
the First National Bank in Boston. Maturity on Feb. 1 as follows: $8,000
yearly from 1911 to 1923 inclusive and $7,000 yearly from 1924 to 1930
inclusive. Bonds are tax-exempt. The genuineness of these securities
will be certified to by the First National Bank of Boston, which will further
certify that the legality of the issue has been approved byStorey,Thorndike, Palmer & Thayer of Boston, a copy of whose opinion will be delivered
to the purchaser.
Henrylyn Irrigation District(P.0.Hudson), Weld County,
Colo.--Bonds Voted and Sold-According to Denver papers,
this district unanimously voted on Feb. 5 to issue $4,387,000
bonds. It is further stated that the entire issue was taken
by Farson, Son & Co. of Chicago.
Hermiston School District No.14, Umatilla County, Ore.Bond Offering.-Proposals will be received until 2 p. m.
Feb. 22 by G. 0. Bradley, County Treasurer (P. 0. Pendleton), for $15,000 5% gold coupon school improvement bonds.
Denomination $500. Interest April 1 and Oct. 1 in Pendleton. Bonds
are subject to call after 10 years. Certified check for $500, payable to the
County Treasurer, is required. Bonded debt, including this issue, $23,000.
Assessed valuation 1909 $581,000.
Holly Beach City, Cape May County, N. J.-Bond Sale.The $73,000 5% 30-year refunding bonds offered on Jan. 25
(V. 90, p. 125) were awarded on Feb. 4 to T. S. Briggs, an
agent of Philadelphia, at par. Denomination $1,000. Date
Jan. 11910. Interest Jan. and July.
Holyoke, Mass.-Bonds Authorized.-The issuance of
$125,000 lighting bonds has been authorized, according to
reports.
Hugo, Choctaw County, Okla.-Bond Sale.-The $130,000
coupon sewer, water and city-hall bonds offered on Dec. 7
1909 and described in V. 89, p. 1296, have been sold.
Huron, Beadle County, So, Dak.-Bonds Voted.-The
election held Feb. 1 resulted in favor of the proposition to
issue the $30,000 water bonds mentioned in V. 90, p. 319.
The vote was 493 "for" to 148 "against."
Commission Form of Government Approved.-On the same
day (Feb. 1) the voters favored changing the present form
of municipal government to a commission plan. The new
system will go into effect about May 1.
Independence, Jackson County, Mo.-Bond Offering.Proposals will be received until March 11 by Wm. A. Symington City Treasurer, for $80,000 4% bonds. Authority
election held Nov. 2 1909.
Jackson, Miss.-Bond Offering.-Proposals will be received until 4 p. m. March 15 for the $258,000 5% coupon
bonds voted on Jan. 29. The proceeds of the issue will be
used as follows: $98,000 for paving, $5,000 for sidewalks,
$95,000 to improve the water-system, $9,000 to repair cityhall, $30,000 for school improvements, $6,000 for a firestation in Third Ward, $10,000 for sanitary sewers and
$5,000 for storm sewers and bridges.
Authority Sections 3,415, 3,416, 3419 and 3,420 Code of 1906 as amended
by Chapter 189, Acts of 1908. Denomination $1,000. Date Feb. 1 1914.
Interest semi-annually at the National Park Bank in New York City.
Maturity Feb. 1 1930. Bonds are exempt from taxes. Certified check
for 1% of bid, payable to A. P. Lusk, City Clerk, is required. Official
pamphlet states that "no previous issue has been contested."
517
The following bids were received:
Cleveland Tr. Co., Cleve_ _521,684 001 Hayden, Miller & Co., Cle.$21,343 00
New First Nat. Bk., Col__ 21,653 00 Well, Roth & Co., Cin___ 21,326 00
Tillotson & Wolcott Co.,Cle 21,434 00 Western-German Bk., Cin 21,212 12
Otis & Hough, Cleveland_ 21,404 00 First Nat. Bank, Jefferson 21,129 00
Citizens' Nat. Bank, Woos 21,374 00 Sec. Say. Bk.&Tr.Co. Tol 21,025 00
Seasongood &Mayer, Cin__ 21,362 00 First Nat. Bank, Cleve_
_ _ 20,939 00
C. E. Denison & Co., Cle__ 21,354 00 Mansfield Say.Bk., Mans_ 20,902 50
Johnstown, Cambria County, Pa.-Bonds Defeated.-The
election held Feb. 15, it is stated, resulted in the defeat of the
proposition to issue the $367,000 school-building bonds mentioned in V. 90, p. 319.
Juniata, Blair County, Pa.-Bonds to be Offered Shortly.We are advised that preparations are being made by the
Finance Committee to advertise for sale, the $30,000 water
and street-paving bonds mentioned in V. 90, p. 125.
Kent, King County, Wash.-Bonds Voted.-An election
held here Jan. 28, it is stated, resulted in favor of a proposition to issue $73,000 20-year water bonds. The vote was
179 "for" to 16 "against." It is further stated that the city
will place $23,000 of the issue at 6%, while $50,000 will be
taken by a Seattle bond house at 5%.
Kern County (P. 0. Bakersfield), Cal.-Bids.-The
following bids were received for the $400,000 43.% coupon
court-house-building bonds sold on Feb. 7 to N. W. Halsey
& Co. of San Francisco at 102.2815 and accrued interest
(V. 90, p. 461):
N. W. Halsey & Co., San
I Wm. R. Staats & Co., Los
Francisco _
$409,126
Angeles
E. H. Rollins- & Sons, San
Jas. H. Adams & Co, Los $407,125
Francisco
408,610
Angeles
406.713
lank of Bakersfield__ __ ._
406,100
Krebs, Pittsburgh County, Okla.-Bond Offering.-Proposals will be received until 4 p. m. to-day (Feb. 19) by
E. J. Roche, City Clerk, for the $50,000 5% coupon waterworks bonds voted on Jan. 15 (V. 90, p. 252).
Denomination $500. Date Feb. 1 1910. Interest semi-annually in
New York City or elsewhere to suit purchaser. Maturity Feb. 1 1935.
Certified check for $1,000, payable to the City Treasurer, is required.
Purchaser to furnish blank bonds. The bonds are approved by Shope,
Zane, Busby & Weber of Chicago.
La Grande, Union County, Ore.-Bond Election.-Reports
state that an election will be held Feb. 27 to vote on the
question of issuing $75,000 high-school-building bonds.
Lawrence, N. Y.-Bond Sale.-On Feb. 7 the $46,000
5-27-year (serial) street-improvement and the $4,000 5-8-year
(serial) drainage registered bonds described in V. 90, p. 391,
were awarded to Parkinson & Burr of New York City at
100.074 for 4.15s.
Lemmon, Perkins County, So. Dak.-Purchaser of Bonds.
-We are advised that Chas. H. Coffin of Chicago was the
purchaser of the $25,000 5% 20-year water-works-extension
bonds disposed of on Dec. 13 1909.
Lexington School District No. 1 (P. 0. Lexington), Dawson County, Neb.-Litigation.-The District Secretary writes
us under date of Feb. 14 that the suit brought to prevent
the issuance of the $50,000 school bonds voted upon at the
election held Aug. 30 1909 is now being argued before the
State Supreme Court. He adds that a decision will probably
be rendered towards the end of the week. See .V 90, p. 125.
Lorain County Road'District No. 1, Ohio.-Bond Sale.On Feb. 12 the $20,000 VA% coupon road-improvement
bonds described in V. 90, p. 461, were sold to Hayden,
Miller & Co. of Cleveland at 103.81 and accrued interest-2
a basis of about 4.05%. A list of the bidders follows:
Hayden, Miller & Co.,
Seasongood & Mayer,
Cleveland
$20,762 00
Cincinnati _
$20,732 00
Sec. Say. Bk. & Tr. Co..
Otis & Hough, CleveToledo
a20,862 50
land
20,695 00
New First N. Ilk., Columb.b20,860 00 Cit. Nat. Bk., Wooster_. 20,688 55
Well, Roth & Co., CinLorain County Banking
cinnati
520,820 001 Co., Elyria
20,570 00
a Bid said to be conditional. 6 B d said to be irregular.
Maturity $10,000 on March 1 in each of the years 1920 and 1921.
Loudonville, Ashland County, Ohio.-Bond Election.-An
election will be held Feb. 26 to vote on the question of issuing
$9,000 432% city-building-completion bonds. Maturity
Sept. 1 1917.
Lowell, Mass.-Note Sale.-The $200,000 notes mentioned
in V. 90, p. 461, we're disposed of on Feb. 12 to Estabrook
& Co. of Boston at 3.57% discount. Maturity Nov. 15 1910.
Manhattan School District (P. 0. Manhattan), Riley
County, Kan.-Bonds Voted.-On Feb. 2 the voters authorized the issuance of $35,000 school-building bonds.
Marcus Hook, Delaware County, Pa.-Bonds Voted.-A
recent election, it is stated, resulted in favor of a proposition
to issue $18,000 sewer-construction and ;6,000 Market Street
improvement bonds. The vote was 348 "for" to 180
"against."
Marietta, Washington County, Ohio.-Bond Offering.Proposals will be received until 12 m.Feb.24 by the Board of
Control for $17,000 4% coupon street-improvement (city's
portion) bonds.
Authority Section 2835, Revised Statutes. Denomination $500. Date
June 1 1908. Interest semi-annually at the City Treasurer's office. Maturity June 1 1918. Bonds are exempt from taxes. Certified check for 10%
of bid, payable to Will C. Clark, City Auditor, is required. Purchaser to
pay accrued interest.
.011
Jefferson, Ashtabula County, Ohio.-Bond Sale.-On
Marion County(P.O. Knoxville),Iowa.-Bond Offering.Feb. 14 the $20,000 45,6% coupon sewerage-disposal-plant
bonds described in V. 90, p. 319, were sold to the Cleveland Proposals will be received until March 1 by Edd McCoy,
Trust Co. of Ceveland at 108.42. Maturity on Feb. 1 as County Treasurer, for $25,000 4% funding bonds.
Denominations $500 or $1,000 to suit purchaser. Maturity $5,000
follows: $500 yearly from 1920 to 1929 inclusive and $1,000 yearly
on Jan. 1 from 1912 to 1916 inclusive. Bonds are exempt from
yearlygrom 1930 to 1944 inclusive.
taxes. Certified check for 10% of bid Is required.
- _4
518
THE CHRONICLE
Marquez Common School District (P. 0. Marquez), Leon
County, Tex.-Bonds Voted.-An election held Jan. 31, it is
stated, resulted in favor of a proposition to issue $7,500
school-house bonds. The vote was 44 "for" to 5 "against."
Mendon, St. Joseph County, Mich.-Bond Sale.-The
$10,000 5% coupon electric-light bonds described in V. 90,
p. 461, were awarded on Feb. 14 to the Bumpus-Stevens Co.
of Detroit at 103.90 and accrued interest. The following
bids were also received:
Security Trust Co., Detrolt__$10,3871W. E. Moss & Co., Detrolt__$10,360
Maturity $1,000 yearly.
Mexia School District (P. 0. Mexia), Limestone County,
Tex.-Bond Sale.-The $10,000 school bonds mentioned in
V.90, p. 64, have been disposed of locally at par and accrued
nterest.
Midway School District (P. 0. Midway), Woodford
County, Ky.-Bonds Not Yet Sold.-It appears that the reports that this district sold $20,000 20-year school-building
bonds (V. 90, p. 391) are incorrect. We are advised that
the bonds will not be sold until about June 1. They will be
dated July 1 1910 and bear interest at the rate of 432%.
Milton, Cavalier County, No. Dak.-Bond Sale.-This
village has sold the following bonds, which were authorized
at an election held Jan. 25: $14,000 for refunding purposes,
$1,000 for drainage, $400 for jail, $500 for a fire-hall, $300
for water and $400 for streets.
Milwaukee, Wis.-Bond Election.-Local papers report
that propositions to issue the following bonds will be submitted to a vote of the people at the coming April election:
$100,000 for the fire department, $150,000 for a public
museum, $50,000 for the police, $470,000 for schools, $200,000 for the Buffalo Street bridge, $250,000 for the improvement of Jones Island Harbor, $150,000 for the Wright Street
bridge,$25,000 for an auditorium and $140,000 for the Oneida
Street bridge.
Minneapolis, Minn.-Bids.-The following bids were
received for the $100,000 4% coupon 30-year school bonds
awarded on Feb. 10 (V. 90, p. 461) to the Northwestern
National Bank of Minneapolis at 101 and accrued interest:
100.14
Northwestern Nat.Bk., Minn 101.000I Blodget & Co., Boston
A. B. Leach & Co., Chicago_100.276 Wells, Dickey & Co. Minn 100.076
Bank,
E. H. Rollins & Sons, chic__100.27 German-American '
al00.50
Minneapolis
R.L. Day & Co.. Boston.____100.169
a For $25,000 bonds.
Minnesota.-Bonds Purchased by State Funds During
November, December and January.-During the months of
November, December and January improvement bonds
aggregating $195,778, all bearing 4% interest, were purchased at par by the State Permanent Trust Funds. The
November purchases, amounting to $111,120, were as follows:
$800
aAltkin Co. Dist. No. 7
xAnoka (City), Anoka Co... 10,000
700
98_
No.
Dist.
Co.
aBlue Earth
1,500
aBecker Co. Dist. No. 32
2,000
aCook Co. Dist. No. 5
6,000
aClay Co. Dist. No. 69
aCrow Wing Co. Dist. No. 15.. 1,000
1,000
63
No.
Dist.
Co.
aIsanti
5,500
aKittson Co. Dist. No. 1
800
zMarshall Co. Dist. No. 135_
1,200
aOttertail Co. Dist. No. 27
18,000
aPolk Co. Dist. No. 1
aRed Lake Co. Dist. No. 69._ $600
500
aRoseau Co. Dist. No. 93____
xStearns Co. Dist. No. 20____ 3,800
aStearns Co. Dist. No. 202___ 1,000
aTraverse Co. Dist. No. 2____ 2,000
zWadena Co. Ditch No. 8____14,945
zWadena Co. Ditch No. 5____ 6,325
aWashington Co. Dist. No. 56_ 3,500
3,500
aWilkin Co. Dist. No. 1
15,000
xWilkIn Co. Ditch No. 8
10,250
xWilkin Co. Ditch No. 9
1,200
aWright Co. Dist. No. 138
Sept. 17 1909. They were awarded to Geo. M. Bechtel &
Co. of Davenport at 102.50. Denomination $500. Date
Sept. 1 1909. Interest semi-annual. Bonds are free from
taxation.
Mt. Pleasant, Maury County, Tenn.-Bids Rejected.Bond Sale.-Dispatches state that all bids received by this
place on Feb. 1 for the 155,000 6% 30-year water-works
improvement bonds described in V. 90, p. 126, were rejected. The reports further state that private negotiations
were then taken up with Atlanta, Ga., parties and $40,000
6% bonds, maturing in 16 years, were disposed of. The
price paid was 101.219.
Mt. Pleasant School District (P. 0. Mt. Pleasant), Titus
County, Tex.-Description of Bonds.-The $32,000 5%
bonds voted on Dec. 11 1909 (V. 89, p. 1687), are dated
Feb. 1 1910 and mature Feb. 1 1950, but are subject to call
after Feb. 1 1920. Denomination $500. The proceedings
of the issue are now before the Attorney-General awaiting
his approval.
Myrtle Point, Ore.-Bond Sale.-The $22,000 gold coupon
water bonds (Series "B")offered on Dec.6 1909 and described
in V. 89, p. 1370, were sold to S. A. Kean & Co. of Chicago
as 6s. Maturity Dec. 15 1939, subject to call after Dec. 15
1929.
New Bedford, Mass.-Bond Offering.-Proposals will be
received until 7:30 p. m. Feb. 21 by Wm. S. Cook, City
Treasurer, for $215,200 4% registered municipal bonds.
Denomination $1,000 or any multiple thereof. Interest on March 1 and
Sept. 1 at the City Treasurer's office or through mall by check. Maturity
on March 1 as follows: $23,200 In 1911, $22,000 yearly from 1912 to 1914
inclusive and $21,000 yearly from 1915 to 1920 inclusive. Bonds are exempt from taxes in Massachusetts. Certified check on a natlional bank or
trust company for 2% of amount bid for, payable to the City of New Bedford, is required. Opinion as to legality of the issue will be furnished by
Storey, Thorndike, Palmer & Thayer of Boston. Bonds to be delivered
and paid for on March 1.
Temporary Loan.-A loan of $50,000 due Nov. 2 1910
has been negotiated with the National Shawmut Bank of
Boston at 3.50% discount.
• New Hartford, Oneida County, N. Y.-Bond Sale.-On
Feb. 15 the $3,900 5-14-year (serial) Genesee Street widening
bonds described in V. 90, p. 462, were awarded to the First
National Bank of Oriskany Falls as 43's. The following
bids were also received:
John J. Hart, Albany-for 4s.
Geo. C. Hodges, New Hartford-$4,235 40 for 5s.
Geo. M. Hahn, New York-$4,000 29 for 5s.
Margaret Hammel-for 5s.
Norwood, Hamilton County, Ohio.-Bond Offering.Proposals will be received until 12 m. March 15 by L. H.
Gebhart, City Auditor, for $1,835 56 Judge St., $8,398 04
Hudson Ave. and $11,957 75 Lexington Ave. 4% improvement assessment bonds.
Denominations $100 or multiple thereof and one for such less amount as
may remain over from each installment. Date Feb. 17 1910. Interest
annual. Maturity one-tenth yearly on Feb. 17 from 1911 to 1920 inclusive. Certified check for 5% of gross amount of bonds, payable to the
City Treasurer, Is required. The amount of bonds to be offered may be
reduced by the amount of assessments paid in cash prior to the date of sale.
Bond Sale.-The four issues of 432% street-improvement
assessment bonds described in V. 90, p. 321, were disposed
of on Feb. 11, it is stated, as follows: $45,698 82 Montgomery
Avenue bonds awarded to the Davies & Bertram Co. of
Cincinnati for $46,828 82 (102.474) and the $6,561 96 Ida
Street, $7,198 81 Forest Avenue and $8,673 Edwards Road
bonds awarded to Weil, Roth & Co. of Cincinnati for $6,Bonds dated Nov. 10 1909. a Bonds dated Dec. 1 1909.
699 46 (102.095), $7,349 31 (102.09) and $8,854 35 (102.09)
The issues bought in December, totaling $44,325, were respectively. Maturity one-tenth of each issue yearly from
as follows:
1911 to 1920 inclusive.
$2,000 aOttertail Co. Dist. No. 279__ $600
zAitkin Co. Dist. No. 8
Bonds Not Sold.-No award was made of the $553 50
700
400 aPine Co. Dist. No. 11
zAitkin Co. Dist. No. 31
1,500 43% Morton Avenue bonds also offered on Feb. 11.
350 'Pine Co. Dist No. 85
zAltkin Co. Dist. No. 103
2,400
51_
No.
Co.
800
Dist.
*Pipestone
100
No.
Dist.
Co.
aDouglas
Bonds Authorized.-Ordinances were recently passed by
450
'Goodhue Co.Dist.(Red Wing)10,000 aPdlk Co. Dist. No. 272
2,500 this city authorizing the issuance of $18,000 bonds for the
600 'Ramsey Co. Dist. No. 2
aGrant Co. Dist. No. 67
15_10,000
No.
Dist.
Lake
65..
Co.
1,900
No.
'Red
Dist.
Co.
aKandlyohl
enlargement of the electric-light plant
1,000 improvement and
500 aRenvIlle Co. Dist. No. 82
aMarshall Co. Dist. No. 89
325 xSt. Louis Co. Dist. No. 17.... 1,000 and $15,500 bonds for enlarging and increasing the capacity
*Martin Co. Dist. No. 106
1,500
400 xSt. Louis Co. Dist. No.
zMartin Co. Dist. No. 84
the present water-works. Both issues carry 4% interest
1,200 aTraverse Co. Dist. No. 36_.... 3,000 of
zMartin Co. Dist. No. 124_
and mature in 20 years.
1,200
zMilielacs Co. Dist. No. 38
Oakland, Alameda County, Cal.-Bonds Authorized.z Bonds dated Dec. 15 1909. a Bonds dated Dec. 22 1909. • Bonds
Reports state that on Feb. 7 the City Council passed an
dated Dec. 30 1909.
of the following 4%
The bonds purchased in January are all dated Dec. 30 ordinance providing for the issuance upon Nov. 15 1909,
bonds, which were favorably voted
1909 and make a total of $40,333.
for a city-hall, $2,503,000 to
Brown Valley, Traverse Co__$2,000 Morrison Co. Dist. No. 127_$1,000 (V. 89, p. 1497): $1,150,000
800 improve the water-front and $80,000 for a fire-alarm buildChippewa Co. Dist. No. 17_ 1,000 Pope Co. Dist. No. 39
Co.
1
Dist.
No.
Stevens
9,933
6,000
Crow Wing Co. Dist. No. 104..
$325. Maturity forty
3,500 ing. Denominations $1,000 and
Dakota Co. Dist. No. 103____ 1,800 Wright Co. Dist. No. 55
14,300
Koochiching County
years.
Orange, Essex County, N. J.-Bond Sale.-The $90,000
Morristown, Hamblen County, Tenn.-Bond Offering.Proposals were asked for until 7 p. m. yesterday (Feb. 18)by 4% coupon electric-light bonds described in V. 90, p. 462,
W. D. Bushong, City Treasurer, for $40,000 5% coupon were awarded on Feb. 14 to Storms & Co. of Newark at par
and[accrued interest. There were no other bidders. Masewerage bonds.
Authority Chapter 525, Acts of 1909. Denomination to suit purchaser. turity January 1 1960.
Date March 1 1910. Interest on Jan. 1 and July 1. Maturity March 1
County, Minn.-No Bonds Proposed.1940. The result of this offering was not known to us at the hour of going PliOsakis, Douglas
to press.
We are advised that there is no truth in the reports that this
Morrisville, Bucks County, Pa.-Bonds Not Sold.-Up to city is preparing to issue $7,000 refunding bonds.
Feb. 14 no disposal had yet been made of $3,500 4% bonds, **Osmond, Pierce County, Neb.-Bonds Voted.-An election
proposals for which were asked until Jan. 31.
held here Feb. 11, it is stated, resulted in favor of a proposition to issue $12,000 school bonds. The vote was 135 "for'
Tenn.
County,
Knox
View
(P.
0. Knoxville),
Mountain
toll "against."
53%
$20,000
the
papers
-Local
that
report
Bond Sale.
Philadelphia, Pa.-Bonds Voted.-The election held
coupon street-improvement bonds mentioned in V. 90, p. 254,
Feb.115jresulted in favor of the $8,000,000 4% 30-year loan
have been disposed of at par and accrued interest.
p. 462.
Mt. Ayr, Ringgold County,Iowa.-Description ofBonds.- mentioned in V. 90,
We are advised that the $4,000 5% funding bonds, the sale % Phoenix, Ariz.-Bonds Proposed.-An election will be
of which was mentioned in V. 90, p. 462, were disposed of on heldgeb. 24 to authorize Council to petition Congress, for
FEB. 19 1910.
THE CHRONICLE
power to vote on the question of issuing the $300,000 electriclight and gas-plant bonds mentioned in V. 89, p. 1615.
Port Chester, Westchester County, N. Y.-Bond Offering.
-Proposals will be received until 8 p. m. Feb. 21, it is
stated, for the following 5% street-improvement bonds:
$6,187 7 1-6-year (average) North Regent St. bonds.
5,097 6 1-3-year (average) Willett Ave. bonds.
2,737 3 2-3-year (average) Bush Ave. bonds.
2,695 3 2-3-year (average) Seymour Road bonds.
2,627 3 2-3-year (average) William St. bonds.
2,384 3-year Park Ave. bonds.
Interest semi-annual. Certified check for 5% of bid is required.
519
Note Offering.-Proposals will be received until 2 p. m..
Feb. 24 by Chas. F. Pond, City Comptroller,for the following.
renewal notes: $200,000 notes dated Feb. 28 1910, $200,000 notes dated March 1 1910 and $200,000 notes dated
March 2 1910.
Purchaser to designate the denomination of notes and the rate of interest
desired. The notes will be paid in six months at the Union Trust Co. In
New York City.
St. Paul, Minn.-Bond Offering.-Proposals will be received until 12 m. March 4 by Edwin J. Bishop, City CompPottawatomie County (P. 0. Westmoreland), Kans.- troller, for the following 4% bonds: $300,000 to build high
Bonds Not Yet Sold.-The $40,000 railroad-aid bonds men- schools, $75,000 to construct bridges, $125,000 to build
tioned in V. 90, p. 127, are still unsold.
grade schools and $25,000 for fire-department purposes.
The two first-mentioned issues are dated March 1 1910 while the two
Prospect Park (P. 0. Moores), Delaware County, Pa.-7latter
are dated April 1 1910. Interest semi-annually at the financial.
Bonds Voted.-An election held here Feb. 15 resulted in agencyissues
of St. Paul in New York City. Maturity 30
Bids for "all or
favor of a proposition to issue $15,000 highway-improvement none' will not be considered. Certified check foryears.
2% of bonds bid for.
payable to the City Treasurer, is required.
bonds. The vote is reported as 150 "for" to 56 "against."
The official notice of this bond offering will be found among
Quincy, Mass.--Temporary Loan.-Blake Bros. & Co. of
Boston, it is stated, have been awarded a loan of $50,000 at the advertisements elsewhere in this Department.
a discount of 3.83%. Maturity Feb. 10 1911.
San Saba Independent School District (P. 0. San Saba),
Randolph School District (P. 0. Randolph), Fremont San Saba County, Tex.-Bond Sale.-The $40,000 5% highCounty, Iowa.-No Bonds Voted.-The reports stating that school-building bonds described in V. 90, p. 128, were disthis district recently voted to issue bonds are erroneous. posed of during this month to the State Board of Education,
The Secretary of the School Board informs us that the people at par and accrued interest. The securities were registered
simply voted a tax of $500 for a school-house and one of by the State Comptroller on Feb. 7. They mature $1,0011
yearly on April 1 from 1910 to 1939,inclusive, but are sub$500 to purchase more ground.
Riverside, Riverside County, Cal.-Bond Sale.-The ject to call after five years.
following bids were received on Feb. 8 for the $115,000 4
Stevensville, Ravalli County, Mont.-Bond Offering.city-hall-construction and fire-protection bonds • described Further details are at hand relative to the offering of the
$26,000 6% gold coupon water-works bonds mentioned in
in V. 90, p. 255:
V. 90, p. 323. They will be offered at public auction at
Jas. H. Adams & Co..
N. W. Halsey & Co., San
Los Anglees
$116,661 50
Francisco
$116,184 50 12 m. Feb. 21 by J. J. Cameron, Town Clerk.
E. H.-010111ns & Sons,
J. W. Phelps, Los AnSan *Francisco
geles
116,368 50
116,055 00
WmAR. Staats & Co..
Barroll & Co., Los AnLos Angeles
115,891 75
geies
116,263 00
The offer of Adams & Co. (101.4 4) was the one accepted. Maturity
$5,000 yearly on Dec. 1 from 1910 to 1932 inclusive.
Denomination $500. Date Jan. 1 1910. Interest semi-annually in
Stevensville or New York City, at the option of the holder. Maturity
Jan. 1 1930, subject to call after Jan. 1 1920. Bonds are free from all
taxes. Certified check for $1,000, payable to the Town Treasurer, is
required. Total debt, this issue. Assessed valuation for 1909, $204,000
Suffolk County (P. 0. Riverhead), N. Y.-Bonds AuthorRochester, N. Y.-Note Sale.-On Feb. 17 the $100,000
6-months water-works notes described in V. 90, p. 462, were ized.-This county, it is reported, has made arrangements
the issuance of $200,000 432% jail bonds.
awarded to Goldman, Sachs & Co. of New York City at for
Denomination $1,000. Date March 1 1910. Maturity $15,000
100.00675 for 4s.
on March 1 from 1912 to 1923 inclusive and $20,000 on March 1 1924. yearly
NEW LOANS.
NEW LOANS.
NEW LOANS.
$78 964 3 I
$525 000
$67 C
CITY OF ST. PAUL CITY OF AUBURN, N. Y. Township ofWeehawken, N.J.
BONDS
Four Per Cent -Thirty Years
SEWER BONDS
CITY COMPTROLLER'S OFFICE,
February 16th, 19 0
Notice is hereby given that the City of St; Paul,
Minnesota, by and through its Sinking F d Committee, will receive sealed bids for the urchase
of the whole or any part of $525,000.00 f bonds
described as follows:
$300,000.00 for High School Buildings, dated
March 1, 1910.
$125,000.00 for Graded School Buildings, dated
April 1, 1910.
$75,000.00 for Construction of Bridges. dated
March 1, 1910.
$25,000.00 for Fire Department purposes, dated
April 1, 1910.
All of the above-mentioned bonds will mature
thirty (30) years after their date of Issue without
option of prior payment. They all bear interest
at the rate of four per cent(4%) per annum, payable semi-annually, principal and interest payable
at the Financial Agency of the City of St. Paul
In the City of New York.
Bonds will not be sold at less than par and accrued interest to date of delivery. A certified
check payable to the City Treasurer of the City
of St. Paul for two per cent (2%) of the par value
of the bonds bid for must accompany each bid
that will be considered. Bids for the entire lot
or none will not be considered. The Committee
reserves the right to reject any or all bids.
Bids should be sealed and marked "Bids for
Bonds" and filed with the undersigned by 12
o'clock noon on March 4th, 1910, at which time
they will be opened in the presence of the Sinking
Fund Committee.
A detailed description of the bonds will be mailed
EDWIN J. BISHOP,
upon application.
City Comptroller.
Sealed proposals will be received by Ernest
Hunt, City Comptroller, until 1 o'clock p. m..
February 28th 1910, for the purchase (part or
the whole) of $78,964 31 4% 13-year average
sewer bonds dated January 4th 1910.
Bonds bear Interest at the rate of 4% per annum, payable semi-annually.
Bonds are twenty-five In number and of the
following denominations: one bond of $2.164 $1,
due January 4th 1911. and twenty-four of $3,200,
each payable January 4th of each succeeding
year until all are retired.
Principal and interest payable at the office of
the Columbia Trust Company of New York City.
No bid for less than par and accrued interest
will be considered, and the Comptroller may reject
any and all bids if, In his opinion, the interest
of the city demands him so to do.
• All bids must be accompanied by a certified
check for $1,500, made payable to the City Treasurer, and proposals must be unconditional and
envelope containing same should be plainly
marked "Proposal for Sewer Bonds."
Bonds engraved under the supervision of and
certified as to genuineness by the Columbia Trust
Company, New York City, and will be delivered
to the purchaser on the 10th day of March 1910
at the office of the City Treasurer of the City of
Auburn or at the Columbia Trust Company,
New York City.
Legality of the issue examined by Messrs. Caldwell & Reed, New York City, whose favorable
opinion will be furnished to the purchaser.
Bonds are issued pursuant to the provisions of
Section 104 of Chapter 185 of the Laws of New
York State of 1906 and of a resolution of the
Common Council of the City of Auburn adopted
February 1st 1910.
FINANCIAL STATEMENT.
Assessed valuation of taxable
$17,616,381 00
property
1,104.108 31
Bonded debt, including this issue
315,000 00
NVater bonds included in above
EltNEST HUNT,
Comptroller.
George I. Hovey & Co.
F. WM. KRAFT
To be sold at noon, March 4.1910
OFFICIAL ADVERTISEMENT
299 BROADWAY, NEW YORK
INVESTMENT SECURITIES
BOUGHT AND SOLD
Ciensesisslets Orders Executed
HSTABLIBE BD 18143
H. C. Speer & Sons Co.
First Nat. Bank Bldg., Chicago
CITY, COUNTY
AND SCHOOL
BONDS
LAWYER
FUNDING BONDS
Series of 1910
Sealed bids marked "Proposals for Bonds" will
be received by the undersigned until 8 O'CLOCK
P. M. FEBRUARY 21ST, 1910, for the purchase
of $67,000 4% per cent Funding Bonds of the
Township of Weehawken, N. J
Bonds are dated
February 1st, 1910,are in denominations of $1,000
each, with coupons attached, but may be registered, and mature February 1st, 1920.'s
Each proposal must be accompanied by a certified check payable to the order of Geo. C.
McDonald, Township Treasurer, for an amount
equal to 2 per cent of the par value of the bonds.
bid for.
Bonds will be delivered to the purchaser on or
before the 28th day of February, 1910.
Bonds will be engraved under the supervision
of, and certified as to their genuineness by. the
United States Mortgage & Trust Company of
New York City, and their legality is being examined by Messrs. Caldwell & Reed, of New York
City, whose opinion approving legality will be
furnished to the purchaser.
The right is reserved to reject any and all bids.
By order of the Township Committee.
THOMAS CARROLL,
Township Clerk.
FINANCIAL STATEMENT.
Total Assessed Valuation, 19091910, Real Estate and Personal_ $15,329,264 00
Bonded Debt
358,400 00
Floating Debt ($67,000, to be
funded by this issue)
110,737 00
Total Assets of Township
600,000 00
Population 1910-10,500.
Specializing in Examination of
Municipal and Corporation Bonds
1312 FIRST NATIONAL BANK BLDG.;
CHICAGO, IL.
PERRY, COFFIN & BURR
P. J. GOODHART & CO.,
Investment Bonds
Bankers
NEW YORK
31 BROADWAY
Telephone 2240 Rector
326 Walnut Pit., Cincinnati
Bank and Trust Co. Stocks
60 State Street, Boston
THE CHRONICLE
520
Temple, Bell County, Tex.—Bonds Voted.—The election
held Feb. 10 resulted in favor of the proposition to issue the
$100,000 5% 20-40-year (optional) school bonds mentioned
in V. 90, p. 256. The vote Was 270 "for" to 7 "against."
Troy, N. Y.—Bid.—In addition to the successful bid of
100.50 submitted by the Troy Savings Bank of Troy for
the $100,000 5% 8-months certificates (V. 90, P. 463), an
offer of 100.422 was also received from Bond & Goodwin of
New York City.
Bond Offering Postponed.—The offering of $80,000 publicimprovement bonds, which was to have taken place Feb. 15,
was postponed until Feb. 24. The bonds will bear 4%
interest.
Uniontown School District (P. 0. Uniontown), Fayette
County, Pa.—Bonds Voted.—The election held Feb. 15 resulted in favor of the proposition to issue the $125,000
school-building bonds mentioned in V. 90, p. 257.
Wakefield, Mass.—Temporary Loan.—We see it reported
that a loan of $30,000, due in 8 months, has been negotiated
with Loring, Tolman & Tupper of Boston at 3.68% discount.
Walter, Comanche County, Okla.—Bond Not Sold.—
No award has yet been made of the three issues of 20-year
coupon bonds aggregating $90,000, proposals for which were
asked until Jan. 15. See V. 90, p. 129, for a description
of these securities.
Waterbury, Conn.—Bond Offering.—Proposals will be received until 8 p. m. March 14 by Wm. H. Sandland, City
Clerk, for $200,000 4% water bonds.
•
Authority a resolution of the General Assembly approved May 1 1907.
Denomination $1,000. Date Jan. 1 1910. Interest semi-annually at
the Columbus Trust Co. in New York City. Bonds to be registered if so
desired by purchaser. Maturity $10,000 yearly on Jan. 1 from 1930 to
1949 inclusive. Certified check for 1% of the bonds bid for, payable to
the City Treasurer, is required. Bonds will be certified as to genuineness
by the Columbia Trust Co. of New York City. Purchaser to pay accrued
Interest.
[VoL. Lxxxx
Weehawken Township (P. 0. Station I, Hoboken),
Hudson County, N. J.—Bond Offering.—Proposals will be
received until 8 p. m. Feb. 21 by Thomas Carroll, Township
Clerk, for $67,000 43% coupon (with privilege of registration) funding bonds.
Denomination $1,000. Date Feb. 1 1910. Maturity Feb. 1 1920.
Bid must be made on a blank form furnished by the township and be accompanied by a certified check for 2% of bonds bid for, made payable to
Geo. C. MacDonald, Township Treasurer. The genuineness of the bonds
will be certified to by the United States Mortgage & Trust Co. of New York
City and their legality is being examined by Caldwell & Reed of New York
City, whose opinion as to legality will be furnished to the purchaser. Bonds
will be delivered not later than Feb. 28 1910. Accrued interest to be paid
by successful bidder.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Wenatchee, Chelan County, Wash.—Bond Sale.—The
$50,000 5% 20-year improvement and refunding bonds voted
on Jan. 15 (V. 90, p. 323) were sold on Feb. 10 to E. H.
Rollins & Sons of Denver at 101.35 and accrued interest—
a basis of about 4.894%. A bid of 101 was also received
from S. A. Kean & Co. of Chicago. Denomination $1,000.
Date May 1 1910. Interest semi-annual.
Bonds to be Offered Shortly.—According to Seattle papers of
Feb. 11, "bids will be called for within two months" for
$25,000 sub-sewer and $100,000 improvement district bonds.
Winchester, Clark County, Ky.—Bond Offering.—Proposals will be received until 2 p. m. Feb. 21 by J. A. Hughes,
Mayor, for $65,000 sewer-system and $40,000 city-hall 432%
bonds.
Authority vote of 1,140 to 168 on sewer bonds and 1,157 to 132 on city
hall bonds at election held Nov. 2 1909. Denomination $1,000. Date not
later than July 1 1910. Interest semi-annually at the People's State Bank
ot Winchester. Maturity 20 years. kcash deposit of 5% of amount bid
is required.
Windham, Windham County, Conn.—Bonds Awarded in
Part.—We are advised that "nearly all" of the $100,000 4%
Watkins, Schuyler County, N. Y.—Bond Offering.— coupon high-school bonds bids for which were rejcted on
Proposals will be received until 12 m. March 1 by F. M. Dec. 31 1909 (V. 90, p. 129), have been placed.
Fordham, Secretary, for $33,000 4% coupon refunding bonds
Worcester, Mass.—Temporary Loan.—According to disAuthority Chapter 29, Laws of 1009. Denomination $1,000. Date patches, this city has borrowed $100,000 until Oct. 14 1910
March 15 1910. Interest April 1 and Oct. 1 at the Knickerbocker Trust
from Bond & Goodwin of Boston at 3.54% discount.
Co. in New York City. Maturity April 1 1930.
NEW LOANS.
INVESTMENTS.
INVESTMENTS.
WE OWN AND OFFER
$100,doo
CITY OF MINNEAPOLIS
BONDS
MUNICIPAL BONDS
Tax Exempt Anywhere in the United states
Write tor Partleniare
CANADIAN
MUNICIPAL BONDS
MACKENZIE & CO.,
(JLEN SUTHERLIN le 00. W. A. TORONTO,
CANADA
Sealed bids will be received by the Committee
on Ways and Means of the City Council of Minne$17 First Nat. Bank Bldg,CHICAGO. ILL.
apolLs, Minnesota, at the office of the undersigned
THURSDAY. FEB. 24, 1910, at 2 o'clock p. m.,
for the whole or any part of ($50,000,00) Grade
School bonds, dated Jan. 1, 1910, payable Jan. 1,
5% FUNDING BONDS. DUE 1930.
Adjoins Camden, Opposite Philadelphia
1940, and the whole or any part of $50,000 00
payable
1,
1910,
July
Price Returning 4.50%
bonds
dated
School
High
Details upon request
July 1, 1940.
Bonds to bear interest at the rate of four (4)
per cent per annum, payable July 1st and Janu421 CHESTNUT ST..
PHILADELPHIA. PA
ary 1st.
The right to reject any or all bids is reserved.
A certified check for two (2) per cent of the
par value of bonds bid for, made to C. A. Bloomquist, City Treasurer, must accompany each bid.
Pamphlet containing full particulars will be
AND
mailed upon application.
DAN C. BROWN, City Comptroller.
Minneapolis, Minn.
$90,000 City of Gloucester, N.J.
IP401R,11,1al Az C.
JOHN H. WATKINS
MUNICIPAL
RAILROAD BONDS
BIRD S.DOUR
LEONARD H.HOLE.
W. N. COLER & CO.,
BANKERS
43 CEDAR ST., NEW YORK.
INVESTMENTS.
BLODGET & CO.
BANKERS
60 STATE STREET, BOSTON
30 PINE STREET, NEW YORK
No. 2 WALL STREET, NEW YORE STATE, CITY & RAILROAD BONDS
McCOY
& COMPANN BLACKSTAFF 8c CO.
Formerly MacDonald, MoOoy 6 Ce.
INVESTMENTS
Municipal and
Corporation Bonds
181 La Salle Street, - Chicago
Charles M. Smith & Co.
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDING
CHICAGO
gicaring
7 WALL STREET,
-
Cri.,
-
NEW YORK.
BANKERS
Investment Securities
1382 Walnut Street
PHILADELPHIA
LIST OF SPECIALTIES ON REOUES1
MUNICIPAL AND RAILROAD
BONDS
LIST ON APPLICATION
SEASONGOOD
& MAYER,
Mercantile Library Building
OINODMAT/
MELLON NATIONAL BANK
PITTSBURGH
A bank whose service to correspondents
is unsurpassed.
Write for terms.
W. S. MITCHELL,Cashier
A. W. MELLON,Prest.
CAPITAL AND SURPLUS $6,900,000
521
THE CHRONICLE
FEB. 19 1910.]
garbage-disposal debentures voted on Jan. 3(V. 90, p. 131),
"until the incinerator, which has not yet been started, is
Alexandria, Ont.—Debenture Election.—An election will completed."
Port Arthur, Ont.—Debenture Sale.—On Feb. 14 the 16
be held March 7, it is reported, to vote upon a proposition
to issue $15,000 5% 15-year debentures to guarantee the issues of 4 M% and 5% coupon debentures aggregating $165,088, proposals for which were received on Feb. 12, were sold
bonds of the Glengarry Match Co.
description of these
Camrose, Alta.—Debenture Offering.—Proposals will be to Aemilius Jarvis & Co.for $163,649. A
received until 8 p. m. March 21 by 0. B. Olson, Secretary- securities was given in V. 90, p. 325.
Treasurer, for $4,000 6% and $4,000 7% debentures. InSaskatoon, Sask.—Purchasers of Bonds.—Wood, Gundy
terest annual. Maturity part yearly for 20 years.
& Co. of Toronto were the purchasers of the $18,000 bridge
Chilliwack, B. C.—Debenture Offering.—Proposals will and the $4,300 fire-protection 5% 30-year debentures, the
be received until 12 m. Feb. 28 by J. H. Ashwell, City Clerk, sale of which was mentioned in V.89, p. 1501.
for $4,500 5M% school debentures. Interest annual. MaSchoenthal School District No. 2461, Sask.—Debenture
turity "on or before Jan. 1 1919."
47
0 school-building debentures
Jan. 21 $800 59/
Sale.—On
held
Dunnville, Ont.—Debentures Voted.—The election
were sold to Nay & James of Regina for $806.25—the price
to
ns
Feb. 14 (V. 90, p. 395) resulted in favor of propositio
thus being 100.781. Date Dec. 1909. Interest annually
20-year debentures:
issue the following 4
on Jan. 3. Maturity part yearly on Jan. 3 from 1910 to
to
"for"
434
of
Vote
510,000 as a bonus to Wilhelm Telephone Mfg. Co.
1920 inclusive.
34 "against."
"for" to
30,000 as a bonus to Foundry & Machine Shop. Vote of 456
Smith Falls, Ont.—Debenture Sale.—On Feb. 7 the $4,21 "against."
local-improvement and the $3,022.12 consolidated
660.21
Elmira, Ont.—Debenture Sale.—An issue of $5,000 5%• debt 5% debentures described in V. 90, p. 396, were awarded
water-works debentures was recently awarded to Brent, to C. H. Burgess & Co. of Toronto. The former issue
Noxon & Co. of Toronto. Maturity part yearly for twenty matures part yearly for twenty years while the latter issue
years.
'
matures part yearly for thirty years.
Etobicoke Township, Ont.—Debenture Sale.—C. H. Burenture Sale.—Nay & James of
Sask.—Deb
g,
Strassbur
gess & Co. of Toronto recently purchased $12,600 5% 5 and Regina were the successful bidders on Jan. 31 for the $2,804
10-year debentures.
6% coupon public-park debentures described in V. 90, p.
Goderich, Ont.—Debenture Sale.—The following deben- 325. Maturity part yearly on Jan. 1 from 1911 to 1930
tures, due part yearly for twenty years, were recently awarded inclusive.
to Brent, Noxon & Co. of Toronto:
Vancouver, B. C.—Bid Rejected.—An offer of 98 1-8 made
515,000 00 5% water and light debentures authorized at the election held
Geo. A. Stimson & Co. of Toronto for $2,207,900 4%
by
184.
p.
90,
Jan. 3, V.
5,078 17 4% local Improvement debentures.
40-year debentures was recently declined by the City Council.
issue of $1,075,000 for
Madoc, Ont.—Debenture Sale.—The $6,000 5% local- The debentures bid for include the
water extensions and the
improvement debentures mentioned in V. 90, p. 396, have the Cambie Street Bridge and
See V. 90, p. 325.
been disposed of to the Ontario Securities Corporation of various issues voted on Jan. 13.
It is said that one of the principal reasons for refusing
Toronto. Maturity part yearly for 20 years.
that the City Comptroller desired to deal with
Ottawa, Ont.—Debentures Not to be Issued at Present.— the offer was
with all the dealers, to many of whom
fairness
utmost
the
be
will
We are advised under date of Feb. 12 that no action
sale would come on later.
the
that
stated
had
he
4%
taken looking towards the issuance of the $45,000
Canada, its Provinces and Municipalities.
MISCELLANEOUS. •
THE EQUITABLE TRUST CO.
OF NEW YORK
CAPITAL, $3,000,000
SURPLUS and UNDIVIDED PROFITS,$11,000,000
ALVIN W. KRECH, President
15 Nassau Street
LAWRENCE L. GILLESPIE,Vice-Pres
618 Fifth Ave., near 50th St.
ACCOUNTANTS.
Arthur .Young & Co.
Certified Public Accountants
(ILLINOIS)
New York, 30 Pine Street
Milwaukee. 633 %% ells Bldg
Chicago, 1313 Monadnock Block
Kansas City, 1106 Commerce Bldg.
Checking Accounts with Interest
Trustee, Guardian, Executor, Administration of Estates
Foreign Exchange, Letters of Credit
Safe Deposit Vaults
The
Trust Company of America
37-43 WALL STREET, NEW YORK.
LONDON OFFICE,
COLONIAL BRANCH,
95 Gresham St.
222 Broadway, New York.
LYBRAND,
ROSS BROS &
MONTCOMERY
ants
Certified Public Account
nia)
(Pennsylva
Land Title Building
PHILADELPHIA.
City Investing Bldg., 165 Broadway
NEW YORK.
Union Bank Building
PITTSBURGH
First Nalinnal Bank Bldg.,
CHICAGIt
CAPITAL AND SURPLUS $8,000,000
Invites accounts of individuals, firms and corporations.
Pays interest on daily balances.
Executes trusts of every description.
L. F. DOMMERICH 86 CO.
NEW YORK
Ceneral Offices, 57 Creene Street
E.SOLICIT
ACCOUNTS TO FINANCE
DISCOUNT AND GUARANTEE SALES
CARRY NO GOODS FOR OWN ACCOUNT
JAMES PARK & CO.
CERTIFIED PUBLIC A000UNTANTS
New York,Ohicago, Cincinnati and
London, England.
kUDIS011.1 FOR FINANCIAL INSTITD•
TIONS. INDUSTRIAL AND
MINING COMPANIES
ments,
Investigations. Financial Stat,
Periodical Audits and Accounting,
ALFRED ROSE & CO.,
CEBTUIED PUBLIC ACOOITNTANTS
56 Fine Street, - NEW YORK
Telephone 4261 John.
LOOMIS, CONANT & CO.
CERTIFIED PUBLIC ACCOUNTANTS
30 Broad Street, New York
TeL 4958 Broad.
522
THE CHRONICLE
wrust Tomproxits.
MIRO States DM
Trust Tompautes.
Golfing of IN York,
Union Trust Company
OF NEW YORK
Chartered 1853
45 and 47 Wall Ntreet.
CAPITAL,
•
SURPLUS AND UNDIVIDED PROFITS,
CHARTERED 1884
$2,000,000.00
-
$13,720,622.42
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
ether property, real or personal, for estates,
corporations and individuals.
‘4
EDWARD W. SHELDON, President.
WILLIAM M. KINGSLEY, V.-Pres. HENRY E.
Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES AHERN,
A.EDWARDS,2d Asst.Sec.
W. Bayard Cutting,
William Rockefeller.
Alexander E. Orr,
William H. Macy Jr.,
William D. Sloane.
TRUSTEES.
JOHN A. STEWART. Chairman of the Board.
Gustav H. Schwab.
John J. Phelps,
Frank Lyman,
Lewis Cass Ledyard,
James Stillman,
Lyman J. Gage,
John Claflin,
Payne Whitney,
Edward W. Sheldon
Chauncey Keep,
George L. Rives,
Arthur C. James.
William M. Kingsley
FIDELITY TRUST COMPANY
NEWARK, N. J.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
80 BROADWAY
Branch 425 Fifth Avenue, Corner 38th Street
With Modern Safe Deposit Vaults
Capital $1,000,000
Surplus (earned) $8,000,000
ALLOWS INTEREST ON DEPOSITS,
Acts as Executor, Guardian. Trustee, &c.
Administers "Institutional" and Other
Fiduciary lrusts.
Receives Securities for Safe Keeping and
Collection of Income.
TRUSTEES.
Walter P. Bliss,
H. Van R. Kennedy,
Amory S. Cattail,
James Gore King,
Alex. S. Cochran,
W. Emlen Roosevelt,
Amos F. Eno,
N. Parker Shortrldge.
Frederic deP. Foster.
James Speyer,
Harrison E. Gawtry,
John V. B. Thayer.
Robert W. Goelet,
Charles H. Tweed,
Adrian Iselin Jr..
Richard T. Wilson,
Augustus W. Kelley,
James T. Woodward.
William Woodward.
OFFICERS.
AUGUSTUS W. K ELLEY, Vice-President.
JOHN V. B. THAYER, Vice-Prest. & Sec.
EDWARD R. MF,RRITT, Vice-President.
C. C. RAWLINGS, Trust Officer.
HENRY M. POPHAM.
T. W. HARTSHORNE, Asst. Seeys.
HENRY M. MYRICK,
Acts as Executor, Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates. Guarantees Titles Of
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
Manhattan
Truest
Company
On and after
April first,1910,
of NEW YORK
54 Wall Street
temporary offices at
Capital and Surplus, $18,000,000
(of which $17,000,000 has been earned)
pending completion
of 'its new offices
Authorized to act as Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
WALL STREET
CORNER NASSAU
113 Broadway
financial.
EllinoisTrust&SavingsBank
CHICAGO
Capital and Surplu.s
tiO 13,400,000
Thz Government AJC,COltntant
P. 0. BOX 27, MAIN OFFICE
WASHINGTON. D. C.
OFFICIAL ORGAN OF THE ASSOCIATION op
A.MERICAN GOVERNMENT ACCOUNTANTS.
MONTHLY MAGAZINE OF INTEREST TO
AMOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES. BANKS, RAILWAYS
AND OTHER FUBLIO SERVICE CORPO.
ATIONS.
Pays Interest on Time Deposits, Current and Reserve Accounts
TO BE FOUND IN ALL LEADING CERTIFIED
Deals in Investment Securities and Foreign Exchange
PUBLIC ACCOUNTANTS' OFF/OES.
Transacts a General Trust Business.
Sample Copy 15 cents. Per Annum $1.50
CORRESPONDENCE INVITED
Adrian H. Muller & Son,
THE AMERICAN MFG CO,
MANILA, SISAL AND JUTE
CO R DAC E.
WANTED
MAY 1909 ISSUE
AUCTIONEERS.
Regular
Weekly Sales
State and City Supplement
Will pay 50 cents a copy
STOCKS and BONDS
Commercial & Financial Chronicle,
Front, Pine and Depeyster Sts.
Office, No. 55 WILLIAME STREET,
Corner Pine Street.
OF
EVERY WEDNESDAY,
65 Wall Street
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New Yorl
@FedFRASER