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I

—

^

^^

INCLUDING

y

Bank and Quotation Section

and City Section(semi-Animaiiy)
Street Railway Section (^llaSf *0
State

(Monthly)

Railway and Industrial Section (Quarterly)
Kntflrert aooordtas: to

VOL.

Act

of CTonsrfias, in the

year 1906. by Willlajc

1

B.

Dana OoMPAirr,

SATURDAY, FEBRUARY

82.

in the otfloe of Llbrarlapn of Congress, Waehlnjarton, D.

24,

NO. 2122.

1906.
Week ending February

—

O

17.

Clearings at

Inc. or

1906.

1905.

Dec.

1904.

1£03.

PUBLISHED WEEKLY.

Terms
ffor

One

ol

Subscription

—Payable

in

Boston

Advance
$10 00

y.'ear

6 00
13 00
7 50

For Six Months

European -ubsoription (incltiding postage)
European Subscription Six Months (including postage)
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)

£2
£1

148.
lis.

—

Subscription includes following Sections
State and Citt (semi-annually)
Bank and Quotation (monthly)
(quarterly) Street Bail way (a times yearly)
INDCSTRIAL
Bailwat AND
I

|

Terms

AdTcrtisin^— Per

oi

Incli

Months
Twelve Months
Six

I

$4 20
22 00
29 00
50 00
87 00

(8 times)

Three Months

(13 times)
(26 times)
(52 times)

Worcester
Fall River
Lowell
New Bedford

.

Holyoke
Total New Eng.
Chicago
Cleveland
Detroit

Milwaukee
Indianapolis

Columbus
Toledo
Peoria

Kalamazoo
Springfield,

Akron
Youngstown
Rockford
Springfield,

CLEARING HOUSE RETURNS.

Bloomington
Qulncy
Decatur

The following table, made up by telegraph, &c., indicates
that the total bank clearings of all the clearing houses of the
United States for the week ending to-day have been $2,860,645,736, against $2,978,422,325 last week and $2,509,817,634
the corresponding week last year.

Mansfield
Jacksonville,

Clearings

—Returns

New York
'

Seven cities, 5 days
Other cities, 5 days
Total

all cities,

All cities,

Total

1

5 days

..

.

day

all cities

for

week

Cent.

1906.

1905.

$1,528,770,934
111,197,069
87,343,433
18.292,947
155,534,918
46,463.799
13,159,252

$1,269,837,941
99,328,009
77,903,547
15,820,941
139,712,935
43,788,658
12,804,864

$1,960,362,352
300,298,761

$1,659,196,895
255,401,928

$2,260,661,113
599,984,623

$1,914,058,823
595,158,811

$2,860,645,736

$2,509,817,634

24.

Bo.ston
Philadelphia

Baltimore
Chicago
St. Louis
New Orleans

Per

Telegraph.

by

Week ending February

,

Clearings at

Week ending February

—

New York
Philadelphia
PlttsburRh

Baltimore
Buffalo

Washington
Albany
Rochester
Scran ton
Syracuse

WUmlnRton
Keadlne
Wllkes-Barre ...

Wheellnn
Erie
Chester

BInKhamton
GreensbiirK
Franklin
TotJJl

Middle..

Dec.

Seattle

Portland

Lake City...
Spokane
Salt

Topcka
Davenport
Colorado Springs
Cedar Rapids

Fremont
Pueblo
Tot. oth. West.
St. Louis.New Orlejvns
Louisville

Houston
Galveston

Richmond
Memphis
Siivannah
Atlanta
Nashville

Norfolk
Fort Worth

Birmingham
.Augusta
Knoxville
Charleston

Rock

Chattanooga
1903.

1904.

Macon
Columbus, Ga
Mobile

S

190 .000

187,.3.32

+ 27,3
+ 20.2
+ 17.3
+ 27.0
+ 20.7
+ 32.7
+ .30.1
+ 41.1
+ 47.6
—
10.6
+ 22.5
+ 30.3
—0.0
+ 70.0
+ 128.5
+ 11.7
-6.5
+ 41.3
+ 1.4

2. 175. ,360.976

1.717.879.937

+20.6

,930,836 ,210
134,722 ,791
50,947 ,371
27,223 ,334
6,852 ,711
5,611 ,174
4,363 ,007
4,294 .922
1,970 ,762
1,594 .494
1,338 921
1,126 594
821 ,842
1,028 601
1,089 532
443 094
442 000

,516,231,208

016

327,7.35

4<i:i

Tot. Mid .West.
San Francisco ..
Los Angeles

Jacksonville

.

1905.

111.

Jackson
Ann Arbor
Fort Wayne
South Bend

Little

17.

Inc or
1906.

Ohio

+ 20.4 Tacoma
+ 12.0 Fargo
+ 12.1 Helena
+ 15.6 Sioux Falls
+ 11.0
+ 0.1
Total Pacific..
+ 2.8 Kansas
City
Minneapolis
+ 18.1
+ 17.5 Omaha
St. P.aul
Denver
+ 18.1 St.
+ 0.8 Des Joseph
Moines
City
+ 14.0 Sioux
Wichita

The full details for the week covered by 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 tlie last day of the week
has to be in all cases estimated as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Saturday noon, February 17, and the results for the corresponding
week in 1905; 1904 and 1903 are also given. Contrasted
with the week of 1905 the total for the whole country shows
a gain of 26.0%. Outside of New York the increase over
1905 is 23.5%.

112,113,.505

43,437,181
21,427,431
5,675,928
4,227,

1.S3

3,354,626
3, 044, .535
1,335,043
1,782,159
1,092,723
804,311
827,002
605,033
476,901
396. S45
473,200

410
280
803
502
900
785
904
2,4.58 402
1,601 345

1,069,355
103,067
34,520
22,230
5,601
3,008
3,150

,333 ,208
1,183 ,958
864 ,094
728 ,825
1

616 684
415 ,451
431 ,251

444 100.
439 542
238 160

1

333,724.023
110,441,530
45,929.188
20,444.071
6,765,944

180,649,754
8,687,200
3,311,223
2,301,991
1,501,478
l,890j303
1,487,158
1,093,724
5,452,200
704,417
408,339

134,358,409!
6,057,0001
2,872,041
1,884,530,
1,427,311
1,669,320
1,435,120
607,90i:
450,618'
415,9391
423,045!

+ 34.51
+ 30.5:
+ 15.31
+ 22.1
+ 5.2,
+ I3.2I
+ 3.01
+ 70.9
+ 19.4,
+ 69.4;

118,765,805
6,833,900
2,400,155
1,831,840
1,248,039
1,327,057
1,103,343
1,268,643
457,027
407,102
420,042

143,727,986
7,032,000
2,578,952
1,640,113
1,340,757
1,460,860
1,701,186
1,018,579
508,018
472,535
348,728

202,580 ,907
199,804 ,218
25,310 ,650
14,340 ,080
12,418 ,162
10,547 ,791
6,933 ,740
5,213 ,700
3,954 ,105
3,143 ,824

152,207,840
171,071,422
19.675,900
13,694,220
8,926,406
8,397,525
5,435,783
4,643,700
3,400,302
3,251,198
1,674,742

+33.1

130,183,619
167,688,216
21,885,900
11,810,395
8,501,201
8,138,859
6,347,964
4,042,100
2,505,582
3,341,536

161,827,714
158,957,371
22,679.050
13,976,700
9,222,333
7,856,871
4,945,289
3,865,700
2,945,119
2,651.515
1.555.610
1.527.664
995,351
629,752
655,087
563,830
386,056
629,400
604,883
385.257
302,842
323,652
406,386
191,825
151,177
189,762
154,096
88,093

2,149 ,633
1,654 ,862
1,414 ,991

805 ,806
111..

Lexington
Canton

NEW YORK.

Box 958.

Springfield

Evansville

<fe

Office

New Haven

Portland

Grand Rapids
Dayton

CHICAGO OFFICE— PUny Bartlett, 513 Monadnock Block.
LONDON OFFICE— Edwards Smith, 1 Drapers' Gardens, B. C.
WILLIAiTI B. DANA COMPANY, Pnblfshers,
Pine 8treet« Comer ol Pearl Htreet,
Fost

...

Cincinnati

Space

Transient matter per inch space (14 agate lines)

Two Months

Providence
Hartford

760, ,023
781, ,141
468 ,625
495, 000
477, ,482
555, ,873
425, 695
448, 321
342, ,951
330, 835
366, ,772
252, 584
200, 000
116, 222
691, 456
438, 023

1

,,373,967

1.373,694
644,444
673,584
789,530
533,798
481,200
428,100

509,310
287,099
292,767
320,550
248,220
320,629
171,963
196,753
81,678
Not included

Not included

293,779,086
42,032,976
11,279,797
9,482,087
4,176,437
5,226,945
3,490,031
3,871,512
352,224
673,377
289,303

248,903,096
30,994,800
8,223,608
4,474,662
4,065,618
3,207,021
2,550,000
2,531,194
435,085
531,835
229,647

80,875,289
24,780,112
15,511,208
8,701,833
6,252,268
6,127,005
4,714,970
2,419,359
1,636,378
1,108,569
889,024

57,243,471
18,825,987
13,981,754
6,836,015
5,480,297
5,479,007
3,497,258
1,840,147
1,.325, 831
1,041.551
920,735
680,564
505,655
374,587
134,666
415,819

8.39,846

776,957
505,626
235,725
400,000

75,959,546
57 ,0,82, .391
21,734,042
16,113,089
9,648„50S
5,796,500
6,598,420
5,494,345
4,409,082
4,779,772
3,927,218
1,878,024

61,339,873
55,547,9921
17,240,200;
13,842,358!
6,289,2081
4,215.000'
4,002,011
4,156,3791
2,878,450
3.286,467
2,818,234
1,570,0.80

2,486,073
1,127,147
1,125,840
1,164,048
1,033,294
760,630
1,084,985
807,905
430,724
.558.927
293,201
191,222
1,380,070 Not Included

2,7.39,233

1,073,442
1,507,542
1,378,353
1,210,416
1,268.743
1,345,576
1,367,836

Total Southern
120,070,313
150,800,521
Total all
2,978,422,32512,364,250,534

OuUldeN.Y.

1.047,586,115

848,019,206

32.253,290
23,346,097
0,190 100
2,021.813
1,500,762

20,976,205
18,130,199
4,950,023

—3.5

+ 16.8
+ 28.6
+ 4.8
+ 39.1
+ 25.6
+ 27.6
+ 12.31
+ 16.3
—3.31
+ 28.4
+ 20.4
+ 3.0
+ 25.0
+ 12.8

—1.1
—12.2

+ 2.9
+ U.5
+ 9.1
+ 48.3
+ 53.1
+ 7.0
+ 33.3
+ 14.4
+ 47.2
+ 1.7
+ 42.3

1,576,2.39

1,565,546
960,857
023,546
612,291
558,878
400,563
617,400
441,552
398,1,33

441,762
334.556
403,977
269,914
108,883
180,079
100,000
97,403

in total
in total

+ 18.0

+ 35.6
+37.1
+ 111.9
+ 2.7
+ 63.0
+ 36.9
+ 52.9
—19.1
+ 26.7
+ 26.0
+ 41.3
+31.6
+ 10.9
+ 28.2
+ 14.1
+ 11.8
+ 34.8
+ 31.5
+ 23.4
+ 6.4
—3.4
+ 23.4
+ 53.6
+ 35.0
+ 75.0
—3.8

+ 22.2
+ 2.8
+ 26.0
+ 16.4
+ 53.4
+ 37.5
+ 43.4
+ 32.2
+ 54.3
+ 45.4
+ 39.3
+ 19.7
+ 10.2
+ 48.4
+ 33.9
+ 18.4
+ 17.1
+ 05.5
+ 24.0
+ 09.3
+ 28.0
+ 53.4

244,271„332
28,719,436
6,009,405
3,521,351
3,202,160
2,770,215
2,229,050
2,088,274

230,870,674
28,259,564
5,523,805
4,1.32,884

371,3.80

3,165,77i
2,524,337
1,870,188
2,049,618
387,704

546,504
202,701

589,440
197,838

49,666,542
21,250,417
15,132,140

48,691,229

7,143,0.85
5, 608 ,,802

4,537,030
4,189,957
2,105,.S.39

1,121,294
1,019,080
734,420
741,375
409,576
349,671
163,948

18, 187, ,8,38

11,539,.829
0,7,30,298

5,441,501
3,606,218
4,740,171
1,774,751
1,395,898
669,095
1,317,091
783,808
573.223
"l"79".05d

64,627,900
54,564,151
22,043,505
11,042,779
0,390,933
3,037,500
4,327,237
5,340,060
2,944,260
2,901,183
2,985,996
1,492.026
2,471,610

50,941,366
47,251,581
16,048,991
10,824,920
7,398,420
4,784,500
3,730,099
3,315,492
4,436,318
3,024,623
2,420 475

1,2(X),990

1,127,.368
2,519,00,S

1,347,180
1,092,625

1,639,201
1,410,712

1,051,607

1, .301

1,3 17, .362

1,005,004
782.001

953.364
412.757
599.740
804,000

1,23

099,276
831.0001
205,094

in total

+ 19.1
+ 26.0
+ 23.5

115,076,598
129,.328,317
1,876,925,942 2,153,709,052
807,570,532

819,985,029

15,484,440
12,251,187
3,975,927
1,515,265
1,1.SS.49:(

18,290,384
15,988,504
3.243.244
1.829.341
1.389.973
1.211,758
1,050,820

9,M),7S5

898,2,55

750,893
713,063
599,574

770,207
729,023
464,7,«

40.111,503

45.872,842

3,7"('>.3<)8

3,692,275

Canada

2,071,<;ni

Montreal

1,087,097
1,345.279
1,070,733

Toronto
Winnipeg

Ottawa
Halifax

412,1.00
33S,nc,2
419..S00

Quebec
Vancouver
Hamilton
St. John
London

420,967

Victoria

924. .506
780.s,'il

Total Canada
1,2.52.848.2.32 1..534.,301 .471

1,005, .305

812,.S37
780,1.30

795,138

565,522

+ 53.8
+ 28 .8
+ 25.1
+ 4.5
+ 18.3
+ 47.0
+ 47.:<
+ 7.0
+ 22.4
+ 28.9
+ 40.0

72.017,448

62.781,621

+37.0

1,54I,0S.J

1,795,887
1,160,291
995,021

1,934,7,82

1,274.008
1,04S,340
1,218,732
1,090.843

1.7.36,019
014,9,57

—
THE CHRONICLE.

4 3<i

[Vol. i.xxxii.

.substantial.
Buoyant
only
in
small
part
hopes were hung upon pegs jiart iron, but in greater
part clay, and when this character of the support came
to be realized a fresh strain in money tried the treacher-

out

STREET ILAIUVAY SECTION.

A new number
revised to date,

is

our "Street Railway" section,

of

sent to our subscribers to-day.

same
"The London Underground

editorial discussions in the
topics:

The

embrace the following
Electric,"

ous fixture and

"The evident by an

Electric Lines of Three States."

gave way. We can make this more
than by any other method.

happens that we have incidents of recent develop-

It so

ment that

THE FINANCIAL SITUATION.

it

illustration

themselves

in

elucidate

the

situation.

Amalgamated Copper Comand the Union Pacific
pany
in
department
one
now
The menace to the peace of Europe, which every
The copper secuother.
and then the Morocco affair has proved to be, was last Railroad stock in the
week considered as removed by a compromise of the rity has had a big thing in pickle for a long
At the moment, however, when time nothing less than the promise of a comdifferences in dispute.
the announcement of full settlement was looked for, plete settlement of all copper interests in Montana.
instead of a settlement came the unexpected rejection Finally, it has developed into what? That is the
by Germany on Tuesday of this week of the French question. No one really is ready with an answer;
proposal that the Moroccan police system should be but the actual outcome at the moment is insignificant.
made up of a Moorish force recruited and paid by the Much the same have been the dimensions between the
Sultan, but commanded by Fi-ench and Spanish promise and the fruition in the Union Pacific's case;
Following this decision by Germany, France an enormous distribution, as the story went, was
officers.
issued a semi-official note stating its intention to dis- assured; all there was of benefits gained after the parcontinue private negotiations and to carry the ques- turition was completed was the little mouse merely
Confine the analysis to the

—

—

—

the usual semi-annual dividend to

3%.

tion of policing Morocco before the judgment of the

a

world. According to the cable reports, a good deal
of irritation has resulted and been expressed against

the eye through the entire Stock Exchange

Germany

sent a

at the failure of the conference to settle the

dispute, while on the part of

among

Germany

this attitude

the neutral representatives at Algeciras has

been excepted to as unfriendly and unusual.

This

rise in

this situation in

common

mind, and

stocks are not in the long run

good

results,

perhaps

recently promised; but

all

Run
with

be found to repredo not mean that good

will

it

We

condition.

list

prettj''

certain to reap

and more than has been so

we mean simply that the specu-

not likely to lative holders could not wait, and, ^confronted by an
lead to a war soon and quite likely not at all; but it is ominous money market, had to realize.

disagreement

a source of

is

very unfortunate.

irritation

which

will

It

is

not be lessened by

Comptroller Metz has made an excellent suggestion
about getting the law amended in regard to the payHis idea is, in the
ing Powers is a sickening thought, and, started over ment of the New York City taxes.
such an insignificant difference as the Moroccan affair, first place, to abolish rebates granted to all who pay

The
Europe between the

being kept alive and permitted to foment.
as a possibility, of a

war

in

idea,

lead-

would be unpardonable. Yet there are in Europe their taxes in the month of October when the taxes are
even at this hour many little influences at work which actually due. This rebate system takes from the
could easily become tributary to a general conflict if city's revenue between four and five hundred thousand
the idea of war as a possible contingenc}'^ was allowed dollars every year. That is to say. according to the
to be entertained.
There is no safety amid so much Comptroller's statement, rebates have "cost the city
combustible material as exists in Europe except in during the last four years over $1,780,000," and in
the settlement of each cause of irritation as it arises. 1905 the amount was S513,076 79. As is well known,
Many dismiss the idea of fighting growing out of this rebates under the law are allowed during the whole
This is a mere gratuity which is
difference with the suggestion that Germany could not month of October.
defend herself against Great Britain and France. wholly misplaced and unnecessary. The idea of it is
That is a narrow view of the situation. There are to hasten the receipt by the city of its taxes at a period
more possible belligerents in Europe than those named. of the year when the city treasury is always empt\'.
The cables of this very week have shown another That stimulus to quick payment will not, however, be
Power at work Russia, supposed to be dead, but lost under the Comptroller's proposal after the law has
obviously getting active again establishing herself been changed as he wishes. His full idea is not only
over an important part of Chinese territory, and even to abolish rebates and make the payment of taxes flat
extending its reach up to the Khotan on the border during thelwholc of October, but on the first of Noof Tibet, where Great Britian has so recently made a vember he proposes to add a penalty of one per cent
demonstration which Russia took decided exception and make the full penalty of 7% pa3\able on and after
to even while the Japanese war was at its height.
No December 1. Rebates, as stated above, are mere
one knows how the Powers would arrange themselves gratuities and as such are wholly misplaced. The
in the contingency of a war.
people who now pay their taxes in October and secure
the rebate could probably all of them as readily pay at
Active efforts are still kept up in search for an ex- that date as later; there is no reason why they should
If any one is to be
planation of the reaction at the Stock Exchange during have a preference a douccw

—

—

.

recent weeks.

The only way

to solve that prolilem

is

to analyze the influences that -have induced the ex-

favored,
stances.

it

who are pressed bj' circumwe made any amendment to

should be those

In fact,

if

Mr. Metz's proposal, it would be to extend to a later
done, and it is found
the rumors
and day than he names the application of the full and
promises which led the way to the highest level extreme penalty of 7%.
of
prices
the market has
experienced
turned
tremely

high

values

prevailing

that

previously.

This

THE CHRONICLE

Feb. 24 1906

417

important matters it is difficult to see how the Federal Court or the Federal
elsewhere
that seem Government could in any event interfere with this right.
pending
hung up in Congress or
The underlying thought and purpose running all
to be on the point of progress, or nearing it, as the week
is
the
railroad
interest
rate
through
the decision is that a carrier may not by
widest
of
one
The
closes.
"the
court-review
its, while engaged in Inter-State Commerce,
of
any
of
spoken
as
act
What has been
bill.
clause'' of that measure has this week been framed do a thing that the law of Congress (which has control

There are a number

of highly

Until yesterday it was sup- over Inter-State commerce) forbids that it should do.
in the Hepburn bill and Thus, Justice White, who dehvered the opinion, said:
inserted
be
posed this would
receive the approval of the Senate Committee on Inter- "It cannot be challenged that the great purpose of
State Commerce, being thought to represent the views the Act to Regulate Commerce, while seeking to
of the President, though later telegrams seemed to prevent unjust and unreasonable rates, was to secure

anew by Senator Knox.

,

question whether the Knox Amendment had been equality of rates as to all and to destroy favoritism,
drawn with the acquiescence of Mr. Roosevelt. At these last being accomplished by requiring the publiall events, yesterday the Committee decided to report cation of tariffs and by prohibiting secret departures
the

Hepburn

bill

and forbidding rebates, preferences,
other forms of undue discrimination." Again

without any amendments, thus trans- from such

and

ferring the contest to the floor of the Senate.

all

tariffs,

pending which ought to be advanced he urges: "Now in view of the positive command of
speedily is the one the Chamber of Commerce the the second section of the Act, that no departure from
It amends the national bank the published rates shall be made, 'directly or indicurrent week endorsed

Another

bill

.

law so that a national bank may hereafter make loans rectly,' how can it in reason be held that a carrier
to a single individual which shall equal one-tenth of may take itself from out the statute in every case
the bank's capital and surplus, instead of, as now, re- by simply electing to be a dealer and transport a

The allsuch loans to one-tenth of the capital alone. commodity in that character?
of security it is obvious that a bank with embracing prohibition against either directly or india large surplus is at least as strong as a bank with rectly charging less than the published rates shows
Why, that the purpose of the statute was to make the
capital alone amounting to the same aggregate.
any difference in the prohibition applicable to every method of dealing by
therefore, there should be
stricting

.

.

.

As a matter

application

of

the

loan

limit

in

the

two

cases

a

carrier

by which the forbidden

seems wholly unaccountable and without sufficient brought about."
Besides, public opinion has so far and so tional emphasis
reason.

is

result

could be

Further along in the opinion addigiven to the same point, for in

conclusion Justice White says:

apparent
verse to a bank surplus that in practice banks generally that the construction of the statute which is now
Of course they do not dis- claimed by the carriers would, if adopted, not only
disregard the provision.
regard it absolutely but get around it by some make- destroy its entire remedial efficacy, but would cause
strenuously protested against

shift.

A

law that in

common

the discrimination ad-

his

practice courts expedi-

the provisions of the statute to accentuate and mul-

ents had better be gotten out of our statute books as

quickly as possible.

tiply the verj^

wrongs which

Certain also

is it

,

it

"It

is

was enacted

to prevent.

when the reasons previously

stated are applied to those prohibitions of the statute,

We

have not seen the full text of the opinion of the possession of the power by a carrier to deal in
the United States Supreme Court rendered on Monday merchandise and to sell and transport at less than
of this week in the case of the coal contract of the published rates would not only destroy the remedy
Chesapeake & Ohio Railway, which the Court finds intended to be afforded by the provisions in question,
a violation of the Inter-State Commerce Law. But but would cause the statute to fructify the growth of
if the copious extracts which have appeared in the
the wrongs which it was intended to extirpate."
daily newspapers
correctly outline its tenor, the Unless we are very much mistaken, therefore, the dedecision has been given a much wider import than is cision simply means that a railroad company cannot
warranted. It appears to us that the decision is claim an advantage for itself in the matter of rates
simply authority for the proposition that a railroad which it does not extend equally to other shippers.
cannot deviate in any way from established tariff If a railroad has a price for coal at the mines and
rates, not even in a transaction concerning itself,
has a schedule of rates for transporting the coal to

and that it cannot urge its function as a dealer (the market, its market price for the coal may not be
company was dealing in coal in the case that came less than the sum of the two, for that would be virbefore the Court) as an excuse for an act that would
tually transporting the coal for itself at a smaller
be tantamount to a cut in the published schedule. figure than for other shippers, which is forbidden by
What gave rise to the litigation was that, under an the law of Congress. There is nothing harmful or
old contract, made ten years ago, the Chesapeake &
detrimental in that. It imposes of course upon the
Ohio Railway was selling coal to the New York New carrier the
complying with the law of
obligation of

Haven & Hartford Railway Co. at a figure which Congress, but this is no more than proper. At the
was considerably less than the sum of the price asked same time it serves
as an instrument for maintaining
for the coal at the

mines plus the transportation charge. both schedule tariffs and market prices of
cannot see that the Court goes at all into the ques- Accordingly, the
decision is to be hailed with
tion of the right of a railroad to hold ownership in
faction rather than the reverse.
a coal-mining company. That is a matter, anyway,
l-i

We

coal.
satis-

upon the provisions of the statutes
We adverted last week to the large numbers of
where the company has been organized new stock and bond i.ssues that are being put out by
(the railroads with few exceptions lieing creatures of our leading railroad and industrial corporations and
the State and not of the National Government) and the assurance that this afforded of continued activity
that would depend
in the State

.

THE CHRONICLE.

418

[Vol. lxxxii.

we referred to ceptional demand, which was promptly satisfied, and
the effect this was likely to have upon the activity normal market conditions were immediately restored.
and prosperity of the iron and steel trades in continuing The borrower, in this case, neglected to make provision
the large and extensive orders for iron and steel in early in the day for his requirements, and when he
ill

trade and business.

all its

Particularly

various forms which the trade has had during

The present week
announcements of the same

the last eighteen months.

have been further

We

will refer to

—

sought to borrow, the representatives of the leading institutions were temporarily absent from the market;

kind. the calling of loans incident to the payment on that
touches the day of $20,000,000 for New York City stock liad no
we mean the Chi- influence, but borrowing on Wednesday, over the

only one of these, as

case of such a prominent system

there

it

&

North Western Railway Co. This company
has been applying enormous sums out of earnings
from year to year, as the reader may recall, and yet
these have not been sufficient to supply its extensive
In February 190.3 the shareholders authorized
needs.
an increase in the stock of the company to $100,000,000
from $61,507,400, and $9,226,110 of the new common
stock was sold at once to the shareholders at par.
In July 1905 $10,609,200 more of the common stock
was issued at par, and now a circular has been sent

make the market generally
though at one time money was offered and placed
at 2%. Money on call, representing bankers' balances,
loaned at the Stock Exchange during the week at 8%
and at 2%, averaging about 4^%; banks and trust
companies loaned at 3% as the minimum. On Monday
loans were at 43^%,and at 3% with the bulk of the
business at 43^^%. On Tuesday transactions were at
8% and at 4% with the majority at 43^%. On Wednesday loans were at 534% ^^^ ^t 2% the latter after
out advising of a further issue of $16,267,400, this the day's requirements had been satisfied with the
being 20 per cent increase upon the present total of bulk of the business at 5%. Thursday was a holiday.
the stock. Shareholders will be allowed to take this On Friday transactions were at
and at 4% with the
additional stock, too, at par; it commands 229 in majority at 43^^%. Time loans were a shade easier this
the market. It is distinctly stated that the new issue week as the result of the large borrowing last w-eek
is made for the purpose of obtaining funds to improve from domestic and foreign lenders, which caused a
and extend the company's property and to provide decreased demand. Contracts on good mixed Stock
additional equipment as well as for other corporate Exchange collateral were 5@534% for sixty to ninety

cago

holiday, contributed to

firm,

—

—

4^%

*

purposes.

days,

5@53/^%

for four

and

5@53^%

for

five to six

months. Commercial paper was in better request from
There was no change in official rates of discount by the interior than from local buyers, and rates were
any of the European banks this week with the excep- 5@53^% for sixty to ninety day endorsed bills retion of the Bank of Norway, which reduced its rate ceivable; h@,b}/2% for prime, and
53^@6% for good
from 5}4%, where it has stood since Dec. 12 1905, to four to six months' single names.
5%. Unofficial or open market rates were, compared
with last week, steady at London, easy at Berlin and
The Bank of England rate of discount remains unFrankfort and
oi \% higher at Paris; those at the changed at 4%. The cable reports discounts of sixty to

%

latter centre being influenced

by the renewal

of politi-

ninety day bank

bills in

market rate at Paris

cal tension at Algeciras

is

3^ @3>^%. The open
2i^@2^% and at Berlin and

London

was announced in a Tokio cable that the Japanese Frankfort it is 3^@33^%. According to our special
Government on February 20 had invited subscriptions cable from London the Bank of England gained £ 1 ,907 ,to a new internal 5% loan of $100,000,000 at the issue 627 bullion during the week and held £36 ,012, 971 at the
price of 95. The bonds will not be redeemable until close of the week. Our correspondent further advises
five years have elapsed, after which i;pdemption may us that the gain was due to imports of £1,294,000
be extended for twenty-five years. A St. Petersburg (of which £807,000 from Australia, £62,000 from Concable of February 18 reported that the Government is stantinople, £150,000 from Egypt, £5,000 from Paris
considering the issue of a lottery loan, but that nothing and £270,000 bought in the open market), to exports
had as yet been decided. A later cable hints at extreme of £65,000 (wholly to South America) and to receipts
measures for the purpose of raising much-needed of £679,000 net from the interior of Great Britain.
It

,

funds.

Last week's statement of the

Banks showed, as the

New York

The

Associated

chief feature, the small decrease

The cash
was reduced $3,233,100, while the required

this

foreign exchange market was generally lower
week, influenced chiefly by fairly liberal offerings

commodity

of $153,650 in surplus reserve to $5,789,925.

of

reserve

securities

bills

against grain,

by

drafts against

was the
payments for pensions and the deposit
by the Government of $1 ,000,000 with a local bank to

had been placed abroad, and by a
lighter demand for remittance. The tone was firm on
Saturday of last week at an advance, compared with
the previous day, but this seemed to be due to a natural
reaction from the sharp decline on Friday. The pressure of commodity and security bills on Monday made
the market weak all around, but on Tuesday there was
a recovery with a good inquiry for long sterling and for

the

cable transfers, the latter incident to the semi-monthly

reserve

against
the
general deposits decreased
$3,079,450 as the result of a reduction of $12,317,800
in such deposits; loans decreased $9,616,600.
The

bank statement
smaller drain of

of this

money

week

is

expected to show a

into the Treasury than

case last week;

credit

of

the Philippine treasury representing a

which

through Sub-Treasury settlement on the London Stock Exchange. The maroperations.
There was an export of $578,000 gold to ket was quiet and barely steady on Wednesday, owing
Argentina on Thursday.
to the small inquiry for the following day's mail, and
it was only moderately active on Frida}^ with a firm
Though money on call loaned at 8% on Tuesday of tone. There was some speculative selling at intervals
this week, this record was the result of an entirely ex- during the week, apparently based upon expectations

sale of

bonds

offsetting receipts

.

Feb. 24

1

@

.

.

THE CHRONICLE.

906.

of continued liberal offerings of security bills, but the
somewhat orersold condition of the market, which

419

THE BRITISH GOVERNMENT'S POLICY.

—

The King's speech from the throne which, as most
people know, is only another name for the annual forewas awaited
bills were offered, they were in comparatively small cast of policy by the Britisii Government
discounts
Paris
with
much
curiosity
market
at
and
last
Monday
and
some
anxiety.
open
firmer
volume, the
tending
here
to
the
case
after
any
money
discourThis
is
inevitably
change
of Governthe easier tone for time

resulted from these speculative operations, seemed to
induce speedy covering. Though some franc finance

age negotiations of such

ment

moreover, the develop- ment, because, until such official declaration of purcaused by the dis- poses is made, there can be no certainty of what the

bills;

political tension,

renewed

of

agreement at Algeciras, had a deterring influence.
Nominal quotations for sterling exchange were
4 83K@4 84 for sixty day and 4 87 @4 873/^ for sight.
On Saturday of last week rates for long rose 15 points,
compared with those on the previous day, to 4 8290
4 83, short 10 points to 4 8630 @4 8640 and cables 15
points to 4

8675@4

On Monday

87.

there

was a

fall of

15 points in long to 4 8275 @4 8285, of 15 points in
short to 4 8615@4 8625 and of 25 points in cables to

4 8665 @4 8675.

8285@4

to 4

On Tuesday

long recovered 15 points

8625@4 8635 and

83, short 10 points to 4

@4 8690. On Wednesday
8275 @4 83 and short 5 points to

cables 15 points to 4 8680

long

fell

—

10 points to 4

new Ministry

will actually lay before

Parliament. In
be
said
that
the present case
curiosity had converged largely on the possible suggestions regarding
it

may

Government finances and labor questions.

For rea-

sons sufficiently obvious, practically nothing

on these two questions beyond the

brief

is

remark

said

in the

speech that the earnest attention of Parliament was
invited to "additions made in recent years to the
national expenditures and actual liabilities of the
State."

This

is

at least a promise that the

enormous
main

increase of public expenses, which has been one

characteristic of the past administration, will be at
least

taken in hand by the new Ministry.

The new Government was doubtless wise in not com4 8620@4 8630 while cables rose 5 points to 4 8685@
mitting
itself any more directly on these points; time
holiday.
On
Friday
was
the
a
tone
Thursday
4 8695.
was generally firm, with long 15 points lower and short is required even to formulate a policy, when the position of the Liberal Party has been so radically altered
and cables 5 points higher.
The following shows daily posted rates for sterling by its huge majorities of last month, from what its own
exchange by some

of the leading drawers:
Fri.,
Mon.,
Tues.,
Wed.,
Thurs.A Fri.,
Feb. 16. Feb. 19. Feb. 20. Feb. 21. Feb. 22. Feb. 23.

Brown

4 Oo
MagounAOo

Brothers
Bariner,

Bank

British

North America

Bank

of

Montreal
Canadian Bank
of

Commerce

Heirtclbach. Ickel-

helmnr&Oo
Lazard
Frores..
Merchants'

Bank

Canada

of

H

(60 days 4 83H
lSight--|4 87

83
87

/60days4 84

83H

1 Sight..! 4
160 days 4
ISight.. 4
/60 days 4
ISieht.. 4
f60 days 4
\Si?ht.. 4

87>i
84
87)^
84
87>^
84
SilH
fOO days 4 83V|

87
84
87}^
84

ISight.. 4 87
(60 days 4 83!^
|SiKht..l4 87
160 days|4 84
ISight.. 4 87H

87
83 H
87
84

83H
87
83
87
84

87

84

H

873^

84

87H

87H

L

H

84
87 H
83!^
87

D
A
Y

87
83>^
87
83
87

H

I

83^

S3H

87
84

84
87}^

87H

H
H

O

84
84

87
83 V^
87
84
87
84
87
84
87 J^
83 >^
87

83H

87M

87H
84
87^
83H

83H

83}^
87

H

had anticipated. Two other questions recomment, however, and among both politicians and financiers there was particular interest as
to what the new Ministry would say.
These were the
problems of Irish local government and Chinese labor
in the Transvaal.
The paragraph in the King's
speech regarding Ireland must be described as a
masterpiece of non-committal statement. That the
Ministry has in consideration a plan for improvement
and economizing in the Irish Government and for
"introducing means for associating the people with the
leaders

I

87
84

87^

87H

mained

for

@4 8285 for
conduct of Irish affairs," is all that is positively stated.
8635 for short and 4 8685 @4 87 for
Commercial on banks 4 8250 @4 8260 and In the recommendations as to the Transvaal, the speech
cables.
documents for payment 4 81^@4 83i,^. Cotton for announces that a new constitution for the colony will
payment 4 81
8\%, cotton for acceptance 4 8250 be drawn up at the earliest possible date, and that
until the Transvaal Assembly meets under the new
@4 8260 and grain for payment 4 833/^ @4 83^
charter, importation of Chinese coolies will be susThe following gives the week's movement of money pended. We presume that means not the turning
The market

long, 4 8625

closed on Friday at 4 8275

@4

^@4

•

to

and from, the

[Week endtng Feb. 23 1906.
.

Gold
Total gold and legal tenders.

With

.

Net Interior
Movement.

Shipped by
Banks.

Received by

N Y
.

Currency

back of such Chinese as may now be on the way to
South Africa, but prohibition of further engagements

by the New York banks.

interior

N Y

Banks

.

.

$5,848,000
946.000

$2,651,000
649,000

$6,794,000

$3,300,000

I

Gain $3,197,000
Gain
297,000

iGaln $3,494,000

the Sub-Treasury operations the result

is

as

follows.
Week ending Feb. 23

1906.

Out

Into

Banks.
Banks' Interior movom|t na abovei
.Sub-Treas. operations

& gold exp.

Total gold and legal tenders. . .

Net Change

0]

$6,704,000
23.600,000

Gain $3,494,000

$3,300,000
25,100,000

$30,394,000

in

Bank Holdings.

Banks

The violent break in South African gold mine shares
which occurred in London on the ensuing day appears
to have been due less to the speech itself than to
the

Premier's

Gain 51,994,000

assertion, in

the

subsequent Parlia-

mentary debate upon the speech, that Chinese labor
in the Transvaal amounted to a state of slavery and
resulted

1,500,000

L0.SS

$28,400,000

in (^hina.

seemed

in

cruelty.

This

statement

to argue uncertainty as to

of

the

case

whether even the

temporary status regarding Chinese labor
would be maintained. Further than this, Sir Henry
CampbcU-Bannerman admitted that the Government
had not yet decided on the details of the Transvaal's
own government and administration. The outcome
of this situation presumably will be the naming of a
commission which can ascertain impartially the facts
regarding both the need of Chinese labor and the conditions under which it is applied.
Meantime, it is

present

The

following table indicates the

in the principal

of bullion

European banks.

February 22 1S06.

Bank

February 23 1905.

0/

4-

UoUl.

Silver.

Crrniany

.

37,362,000
94,996,000

\iis -Iliin.

4.").7I3,000

Hiissia

.

.

l.'.,f)G3,00n

.

2S,260,00n

Italy
Nctiri'dfl

.

6.606,80(1

.N'al.ItclK..

3,806,667

Total.

Gold.

36,012,07)
42,385,717 156,793.393
12,4.54,000 49,816,000
3,602,000 9H,50H.OnO
12,607,000 58,:!20.0(H)
23,280,000, 38,343,000
3,756,8001 32,016,800
6,147,100 12,753,900
1.903. .3.33
6.710,000

Total.

Silver.

£

l';nBland.. 30,012,971
I-rancp
114,407,670

Spain

amount

£

£

;

38,853,223
38,853,223
112,837,227 44,I29,8Sr,!),i6,067,ll3
43,035.000 14,34.'>.(10O 57.3Sfl,000
i(i3,or.6,noo
6.186,000 00. '2 4 000
•IK. 224.000
12.701.000 60.02.") .000
14,937.000 20.308,000 3.'>.24.'').O00
22, 264 .000
3,2,"i0.600 25. .M 1.1100
6,003,300
6.291.800 12, 29.'., ion
1,5',I4.6H7
3,189,3.33
4,781,000
I

1

111

'.i.

Tot. wrpk382,'228,ll4 106,135.9.50 488,364,064 392, 399. 08:t 10S.S0f..953 501 ,?06.0:?r,
Tot. prcT.378,060.629.106,183,9'20 483,244,449 388,590,931 107 ,U02,0'26 496.498,957
I

I

not perhaps strange that the shares of the minng
property, in most cases capitalized very heavily,

THE CHRONICLE.

420

[Vol. lxxxti.

should have decHned on even the distant possibihty joyed by any party in a modern British Parliament.
that working expenses cannot be kept down to the The famous "reform election" of 1832 gave to the
present figure.
It

may

Liberals a majority of 370, which

probably be said that the part of the Eng'ish unless

— which

is

improbable

still

holds the record,

— later returns should

in-

which the public, home and crease by 20 votes or more this year's remarkable pluforeign, takes most interest is one to which the King's rality.
In 1895, when the Conservatives numbered a
speech made no reference at all. The question of pro- plurality of 152 on opening Parliament, the figure was
tection versus free trade is admitted to have been regarded as extraordinary.
settled for a good while to come by the recent election.
Nevertheless, the problem of the o})position's attitude NEW YORK CITY'S CREDIT AND CURTAILremains and is of really great importance, because,
MENT OF CAPITAL EXPENDITURES.
when the Liberal IMinistry goes out of office, whether
The discussion aroused by last week's sale of
political

situation

in

soon or only at a distant date, its successors will neces- New York City bonds is well warranted. The results
sarily be those who had been the leaders of the oppo- were undoubtedly the best that could be expected
sition.
It is therefore of concern for the future that under existing circumstances, but they were not such
the principles for which the opposition leaders stand

should be determined.

Mr. Balfour's overwhelming political
and personal defeat has, for one thing, complicated
matters. There were not wanting many critics,
friendly and unfriendlj^, to suggest that since, alone
among the leaders of the Ministerial party, Mr. Chamberlain had achieved conspicuous success in his canvass
for re-election, he, rather than Balfour, was the normal
accomplish.

To this proposition Mr.
Chamberlain himself has interposed a decided negative.
Two or three conferences between these two public
men resulted, first, in Mr. Chamberlain's positive
declaration that, after having w^orked in so close association with Mr. Balfour during twenty years, he would
not stand in competition with him, and that, moreover, he believed that a leader of a party made up
three-quarters of Conservatives should himself be a
Conservative, which Mr. Chamberlain can hardly claim
to be.
From Mr. Balfour's side has come a somewhat
extraordinary letter to Chamberlain in which the exPremier states that "fiscal reform is and must remain
leader of the opposition.

One

as can be viewed w^ith satisfaction or pride.

This has not been easy to reluctantly forced to

admit that the

city's

is

credit

on the decline. The fact affords food for thought
and reflection. We are all concerned to know the
reason for such a situation. Discussion hinges mainly
on this point and, as it happens, opinions do not
differ widely as to the cause.
If we were to speak
is

bluntly,

out too

we should say that New York City is putting
many bonds, besides which all the indications

point to further large issues in the immediate future;
and in addition the prominence given by political
demagogues to the subject of municipal ownership
of public utilities tends to instill fear in the minds

should come a deluge of these
municipal obligations at some date not very remote.
of investors

lest there

As usually happens

in cases of this

kind there are

various contributing causes, but these cannot serve

main

to obscure the

hanced price which the
for its borrowings,

In considering the en-

issue.

it is

city

is

now

obliged to

pay

obviously important that the

money is worth more than it was
on account mainly of the activity
the first constructive work of the Unionist Party.
and prosperity of trade should not be lost sight of.
While at present it is not necessary to prescribe the Municipalities nearly everywhere are obliged to pay
exact method whereby these objects may be attained, a higher rate of interest than when markets were
it is inexpedient to permit of differences of opinion re- glutted with idle funds.
There are so many other
garding these methods to divide the party." To which ways of finding more profitable employment for
Mr. Chamberlain magnanimously replies: "I entirely money than by the purchase of high-grade city obliagree with your description of the objects we both gations that the market for the latter as well as the
have in view, and gladly accept the policy you indicate selling price is adversely affected. Doubtless, also,
.

.

as wise

What

mean

a few years ago

—

—

.

and desirable."
does this

circumstance that

the change in the
for the longer future?

It

is

method

of

disposing

of

ruling out exclusive bids in the unqualified

bonds,

way

in

Balfour himself, with character- which they could formerly be made, has also operated
istic cynicism, has given out his personal opinion that in some measure to reduce the price of the bonds.
the Liberal Party with its present majority is safe for But the difference between present results and former
difficult to

answer.

a five-year tenure of
will

then be

office.

Whether Mr. Chamberlain

able, politically or physically, to maintain

his present hold, or, indeed,

whether Mr. Balfour

will

himself remain in a position of influence over his party,
are questions not so easily answered.

As

for the pres-

ent Parliament, the Ministry was quite warranted in

results

is

altogether too great to be accounted for in

these ways.

The cause

in its influence

By

the last returns, the Liberals alone have 375 votes
out of a total of 660. Against these 375 votes the
Conservatives, with their Unionist allies, number no
more than 154; whereas, if with the Liberal members

deeper and

is

more potent*

What are the exact facts? The reader has been
made tolerably familiar with them by the daily press.
The city no longer finds it possible to place 3^ per

treating the question of a proposed protective tariff cent bonds at par
as something w^hich does not even require discussion.

lies

and working.

— this

having been the prevailing
and hence for the
first time in 25 or 30 years is obliged to put out a 4
per cent issue.
Furthermore, the difference between 33^ and 4 per cent does not measure the full
extent of the change. Rather strangely in the currate of the

bond

in

late years

—

are included the "Laborites" and the Irish-National- rent discussions the fact has been quite generally
ists, both of w'hom will usually vote with the Ministry; overlooked that not so very long ago the city had no
then the Government can at the moment control 506, difficulty in placing 3 per cent bonds; hosts of these
or a plurality of 352 over the Tory Opposition.
This 3 per cent issues still remain outstanding, even Brookwe believe to be the second largest plurality ever en- lyn having some out. More than that, before consoli-

THE CHRONICLE.

Feb. 24 190G.|

dation the city at one time succeeded in putting some
the market and these are now
2)4, per cent bonds on

quoted at a heavy discount.

An advance from

2}/^

to .4 per cent in the rate specified in the bond obviously
marks a change of very great ;importance.

421

In 1904 they reached no

than $75,000,000,
this last including some issues which had to be deferred in 1903 because money-market conditions
rendered extensive sales of bonds in that year out of
the question. Here, then, in a period of only a little
000.

less

more than two years, we have a total of $132,500,000
irrespective entirely of the issues
of bonds put out
by
the
city's sinking funds, and irrebonds
taken
of
sold last week.
We need hardly
of 8.052 per cent, allowing for which the cost of the spective, also, of temporary loans.
money to the city will be 3.65 per cent per annum say that a New York City bond is as good a municipal
This basis price of 3.65 per obligation as any that can be found in the world.
for the life of the bonds.
Of course the

city did

not actually have to pay

—

money borrowed upon the bo;ids
These bonds commanded a premium

4 per cent for the

cent furnishes obviously the true test of the city's
credit, for it takes into consideration not alone the

But, manifestly, there can be too large a supply,
and we all know that, under the law of supplj^ and

demand, when the supply is in excess the price goes
down. Of course the net debt of the city has not
ment in the problem. Last week's offerings were increased in the amount of these new bond sales,
long-time bonds, running almost full 50 years, or for there have been offsets more particularly the
Taking the basis price as accretions of the city's sinking funds tend to diminish
until November 1 1955.
Even in the net debt, however, there
the standard, the rate of interest has been steadily the amount.
that is, with only slight varia- has been a very noteworthy increase.
Thus, on
rising in recent years
tions, the tendency has been continuously upward. Jan. 1 1906, the debt less the sinking funds aggregated
While now the rate is 3.65 per cent, last November $472,574,000; two years before, on Jan. 1 1904, the
the city floated $12,500,000 bonds on an interest basis amount was only $375,918,091, while on Jan. 1 1901
The previous April it put out the aggregate was but $279,725,370. Thus in five
of 3.4997 per cent.
bonds
at
a 3.47 per cent rate. In No- years we have added $193,000,000 to the city's net
$22,000,000
vember 1904 it floated $25,000,000 at 3.40 per cent. debt. Of course the city is vastly richer than it was
This last was a somewhat better rate than had been at the earlier date, and so are all its inhabitants.
realized the previous eighteen months, but in May 1903 But is not the pace, allowing for all this, a trifle fast?
In May 1902 the
Then consider the extensive projects the city has
the rate was only 3.32 per cent.
The Rapid Transit Commisprice to the city was but 3.233 per cent and in Febru- in hand for the future.
ary 1902 no more than 3.194 per cent. And the sioners have laid out very elaborate additions to the
comparison might be extended still further back, subway [system, both in this borough and the Borough
the difference against the present becoming all the of Brooklyn, and expect before long to invite bids
for the construction of these new 'subways.
time wider.
Not less
that
many
other
municipalinoted,
too,
extensive
in
cost and plan are the contemplated addiIt is to be
tions to the city's water supply.
ties in various parts of the country are actually selling
Very little reference
bonds upon better terms than New York a fact is being publicly made to this, but the fact is that
naturally which is not pleasing to our civic pride. last October the plans of the Board of Water Supply
While this city paid last week 3.65 per cent for its to obtain water from the Catskills were approved by
money, Albany the present week placed $82,000 of the Board of Estimate and Apportionment a project
3J^ per cent public-improvement bonds at par an which it is estimated will involve the expenditure of

premium

realized,

but also the length of time the
is always an important ele-

bonds have to run, which

—

—

—

—

—

interest basis of 3.50 per cent.

Buffalo has also this

month sold 33^ per cent bonds at par. Boston on
December 22d last failed to sell $2,410,000 3^8 on
account of the extreme stringency in the money
market at that time, but the entire amount has since
then been taken at par. San Francisco last month
also sold some 33^s at par.
Cincinnati disposed of

To be sure, to enable the city to put
out the necessary bonds to pay for the cost of this
work a constitutional amendment has just been
$161,000,000.

adopted by the voters of the State under which all
water bonds issued subsequent to Jan. 1 1904 will be
excluded in figuring the debt limit of the city. But
these obligations will be New York City bonds all
the same. Furthermore, the city is committed to

$500 ,000 20-40- year (optional) bonds at less than
per cent
the basis being 3.446 per cent on
optional
the
date
and
cent
per
to
3.463^
full
maturity.
In
fact
a number of
Western
cities have decidedly the advantage of New York

The Manhattan Bridge

City

a bridge over Blackwell's Island.

—

Z]4,

in

this

respect.

Detroit

in

January

floated

the expenditure of large amounts for other purposes.

yet only in

required for

its

across the East River

is

as

and many millions will be
completion. The city is also building

its initial

stages

Then

the require-

$2.30,000 3i^s

on an interest basis of 3.202 per cent ments of the Park Department, the Dock Departand $43,000 on an interest basis of 3.14J/^ per cent. ment, the School Department and the various other
Columbus, Ind., the present month sold small amounts city departments are almost endless.
of 3^3 on a basis of 3.283 and 3.333 respectively.
As is well known, the city is resorting to all sorts
Marion County, Ind., sold $170,000 33^ per cent of devices to enlarge its borrowing capacity and
bridge bonds the 3d of this month at a premium enable it to issue additional bonds to carry out all
making the interest basis only 3.148 per cent. And these undertakings. Assessed values were raised in
these illustrations might be further extcndqd.
1903 at one move from $3,857,047,718 to $5,432,398,Undoubtedly, one reason for the decline in the 918 (the basis of valuation having been changed from
city's credit is that the city has been putting out such about 60 per cent of the actual value to nearly the
extensive amounts of bonds.
Last week's offering full value), and there have been the usual normal
aggregated $20,000,000— a good-sized block. In 1905 additions year by year since then. Now there is
the public offerings

amounted altogether

to $37,500,-

talk

of

another wholesale addition to assessments,

THE CHRONICLE.

422
as

it

appears that these

below the

still fall

full

value

Furthermore, as already pointed
out, a constitutional amendment was adopted at the
recent election with the express object of allowing tlie
city to issue water bonds without regard to the debt
limit.
Now it is urged that obligations for the rapid
transit subways should likewise be made separate
and distinct by constitutional amendment. There
might be no objection to this as far as existing subways are concerned, for these bring the city an assured
return, liut with a multiplicity of other subway
routes, the application of this principle could only
be justified when it had been actually and definitely
established that such new routes were income-producing. Those imbued with municipal ownership
ideas would go a step further, and permit the city to
establish lighting and heating plants and to take over
the street railways, besides assuming responsibility
for a hundred other things now in the hands of private
enterprise.
The danger involved in such an applicaof

the

[Vol. LxxxiL

THE CENTRALIZING TENDENCY.

property.

At the dinner

of the

Union League Club of PhilaCannon .somewhat un-

delphia, a week ago, Speaker

expectedly

expressed

himself

strongly

against

present disposition towards centralization.

the

Said he:

"In my judgment, the danger now to us is not the
weakening of the Federal Government, but rather the
failure of the

45 sovereign States to exercise respectively

their function, their jurisdiction, touching all matters

not granted to the Federal Government. This danger
does not come from the desire of the Federal Govern-

ment

power not conferred by the Constitution,
but rather from the desire of the citizens of the respective States to cast upon the Federal Gorernment
the responsibility and duty that they should perform.
If the Federal Government continues to centralize, we
will soon find that we have a vast bureaucratic government, which will prove inefficient if not corrupt."
Conflicts of interests, some real and some giren an
tion of the exclusion principle is too obvious to need exaggerated importance, existed between the colonies
in 1787, producing such bitter jealousies that the Condilating upon.
There is still another feature in the situation to stitution was carried through only with difficulty,
which allusion should be made. It appears that in under the stress of necessity and the force of the arguthe matter of its tax collections the city has been ment that the feeble commonwealths would certainly
banking to an unusual extent upon expectations fall a prey to foreign nations if they did not "provide
which are never going to bs realized. Comptroller for the common defense" by coming together. There
Metz an unusually sensible and level-headed official, can be no doubt that the intent of the framers, repreby the way was quo.ted last month in the New York senting the ideas pf the time, was to continue each
"Times" as saying there are $30,000,000 of unpaid State supreme in authority on its own territory and
personal taxes that are not worth ten cents, and yet, confer upon a representative central government the

—

to grasp

—

he declared, the city carries them along from year to
year as an asset and is issuing and carrying revenue
bonds against them. This means, if we understand
the matter aright, that these revenue bonds will,
with the marking-off of these intangible assets, have
,

control over certain functions pertaining to the whole,

namely

the

"nation."

directly chosen

body

The establishment

to represent the people,

of

one

and

of

another indirectly chosen one to represent the States,

shows how carefully the founders sought to keep the
distinction.
The powers of the United States (the
permanent form.
carefully
were
stated; certain enumerated acts
nation)
Altogether, therefore, does it not appear that it is
time to call a halt and pay some heed to possible future of power were yielded by the States and the exercise
consequences? There is a limit to the drafts which of these distinctly denied to them; a list of acts specifica municipality can safely make upon its resources ally reserved to the United States was drawn; then, to
to be replaced

by

without impairing

obligations of a

its credit,

just as there

is

a limit

make the line of distinction plain, one of the early
amendments reserved "to the States respectively or

The time to call a halt
matter
has
gone
so far as to threaten to the people" all powers "not delegated to the United
is before the
Instead States by the Constitution nor prohibited by it to the
serious impairment of strength and credit.
The desire to carefully distinguish and preof constantly devising schemes for adding to the debt, States."
care should now be had to limit these additions to serve the balance between the many powers reserved
in the case of the individual.

the smallest possible compass.

Municipal ownership and the fewer "powers surrendered for the sake of "a

must be put seriously and firmly aside. As far more perfect Union" is evident.
There is always some difficulty in practice in the
as the subways are concerned, it should be the aim
between smaller sovereignties united in a
relations
build
to
them
the
bidders
to
extent
perto get the
Our difficulties, since the great one which
one.
large
missible with their own capital rather than by availParks, library sites and was settled forty years ago, come, as Mr. Cannon says,
ing of the credit of the city.
things of that kind are certainly very desirable, but not so much from aggressiveness on part of the centhe city must pursue the same policy that the indi- tral government as from neglect of duty by the citizen.
vidual would pursue under the same circumstances. It is almost natural to say that this or that thing is
It must do without these desirable things until it is not as it should be, and that "somebody" ought to
amply able to provide the means to pay for the same. correct it; the somebody being "the Government,"
Of course there are many necessary undertakings meaning the General Government; and so gradually
that must l)e carried through. For instance school the habit develops of looking to the largest embodiment
accommodations must be provided for the growing of power as the source of benefits and the corrector of
number of children. But in view of the danger in- all wrongs. An indefinite notion gets about of Govvolved in the pursuit of any other course, the city ernment resources, Government wealth. Government
must limit itself to actual necessities until it can see wisdom. Government power; somehow or other noits way clearer to the assumption of further new obli- body can state how, but somehow, and the colossal
it is imagined
gations. Its experience with its bond sales imposes beings at the center will discover how
a lesson and a warning which should not go unheeded. that anything which seems out of joint can be remedied
ideas

—

—

1

Faa

THE CHRONICLE

24 1906.

423

by a formless thing called "the Government," if a popu- less noticeable and less radical. We need not be
Sometimes the notion is that pessimistic and fear political overthrow in the future;
lar outcry demands.
our bearings anew and to adhere
the printing-press shall produce paper notes which but we need to take
policies.
The rational course is to
will become money per the Government fiat and fructify to conservative
and
rely
less upon statute: to resist
statute
less
mints
for
the
are
to
call
coin
sometimes
the land like showers;
pressure
to
add
more
centralizing functions;
the
will
firmly
be
blessed;
just
silver dollars by which industry
and
more
forcibly, that the actual
now the notion is that the Government can make to realize, anew
in
progress
and
a people can never be in
life
of
power
transportation;
but
always
regulating
prosperity by
statutes
can
which
erect.
Progress must
schemes
to
work
some
power
general
central
the appeal is to the
quality
and
effort
of
in
the
the individual,
lie
good which is beyond the feebler efforts of the people. always
The fact is that the left as little disturbed as possible by statute, and workAll this starts in a fallacy.
speaking; it is ing in open competition.
comparatively
wise,
Government is not
confer
nothing
not wealthy, for it has nothing and can
except what it has first taken from the people; it pro- RAILROAD GROSS AND NET EARNINGS FOR
duces nothing;

it is

DECEMBER.

only an instrumentality for certain

necessary functions.

It

does some things

—such

Last week we called attention to the extremely

as

maintaining a postal service and constructing an favorable character of the returns of railroad gross
Isthmian canal which are valuable in results, yet are earnings for January as disclosed by the roads furfigures for that month.
not directly remunerative and would not be taken up nishing early preliminary
present
our
completed
results for the
we
To-day
by private capital; but these things are in the nature
both
December,
covering
gross and net
of
month
of a public service, maintained by a public tax.

—

The pressure to add to these functions and undertake more services which private capital avoids is
constant and natural. Localities desire things; specia
interests have projects which they hope to get executed
at the public charge; industries want to borrow the
taxing power for their own assistance; and there is
always a legion of those who struggle to get some law
by which they will be particularly benefited. So,,-as
the country grows larger and richer, and as the apparent power of the Central Government grows, the
appeal to it become more varied and more insistent.
For a single instance, there is now some demand that
the Federal Government, which stands visibly and

same auspicious type.
amount and ratio, and is

earnings, and they are of the

The

increase

is

large in

shared in by practically all the roads throughout the
country. In brief, our compilations show a gain of $14,-

649 ,072, 'or 12.29 per cent, in the gross earnings, and of
$7,683,343, or 19.78 per cent, in the net earnings.
December.

Increase.

1905.

(96 roads.}

1904.

Amount.

%

,

$
133,775,020 119.125,948 14.649.072 12.29
87,249,566 80,283,837 6,965,729 8.67

Gross earninp:s

Net earnings

$

S

46,525,454

38,842,111

7,683.343 19.78

improvement in results is the more
it was made in
face of the fact that
confessedly unable to transact its own necessary busi- the month had one less working day than the correness with eSiciency and economy, shall undertake to sponding month of the previous year December
regulate insurance, the plea being that regulation by 1905 having contained five Sundays whereas Decemthe States has proved unsatisfactory. Granting this ber 1904 had only four. It was also made in face
This

large

noteworthy as

—

Southern roads suffered a falling off
principal
items of tonnage namely,
of
their
one
reform their own bad supervision, instead of pleading
In
some
few of the roads suscotton.
the
West
non possumus and tacitly joining the appeal for help
As for the oft-cited inter- tained a loss likewise in their grain tonnage. Generto the Federal Hercules.
in
State commerce clause
the Constitution, the framers ally speaking, however, the grain movement was
Of
neither knew nor foresaw the railway, and could hardly larger than it had been in the previous year.
plea, the proper deduction

is

that the States should

of the fact that

in

have dreamed
there

is

of

such a nation as we have become

every reason to suppose that "to regulate

commerce with foreign nations and among the several
States and with the Indian tribes" bore, in their minds,
a far simpler and more subsidiary meaning than some
would now give it. Indeed, the bolder constructionists would extend that probably incidental power to
everything of value which passes between State jurisdictions, so that the smallest private business (even

including the publication of a newspaper) which
its

product beyond the boundaries of

would become subject
power of Congress.

We

to the regulative

its

own

sells

State

and controlling

are therefore struggling against very pressing

and very hazardous tendencies, whose issue is yet to
be wrought out. Looking to the national capital as
a center of power and a fount of blessings brings us to
face with a drift towards bureaucracy.

It is

dangerous

to disturb political balances, as disturbing the balances

one fact of general advantage throughout the
whole country was the extremely active and proscourse

perous state of trade, making the volume of general

and merchandise freight extremely large and adding
The buoyancy of the
iron and steel industry was a favoring circumstance
of large importance.
The gains in that way on the
roads running through the manufacturing and the
coal and iron districts can scarcely be overstated.
It should also be remembered that comparison is
with very good earnings the previous year. In December 1904 business throughout the country had
already begun to recover after the depression experienced through 1903 and a good part of 1904. The
effects of this recovery were reflected in the returns
of earnings, and our statement for that month, hence,
showed $7,583,569 increase in gross, or 6.98 per cent,
and $4,382,939 increase in net, or 13.52 per cent, to
greatly to passenger travel.

which, therefore, the 1905 gain

is

additional.

Even

of the natural world has been proved to be.

This in 1903 our compilations recorded $4,049,234 increase
drift is like other movements in wrong directions in in gross, or 3.93 per cent, though in the net there
being insidious, gradual, leading by each successive was then a slight decrease $472,209, or 1.38 per

—

step to

<>k«

next step, and making each new step seem cent.

The

following

carries

the

compariaoiu back

.. JJ

.

.

THE CHRONICLE.

424
and shows that the record
has been an almost continuous one.

to 1896

of

Year

Year

Given.

Preceding.

Year.

Increase or
Decrease.

Year

:

Oiven.
S

51.220.114
67.542.721
70.810.178
78.244.324

190t
1902
1903
1904

9G.20S.122

52.520.887
59,449,009
66.979,889
71.010,127
81.465,495
92,628.931
93,160,941
102.928.990
108.670,412
119,125,948

The

Year

Increase or
Preceding. Decrease.

,

I

$

—1.300.773 17.883.104 17.930,398

[Vol. lxxxil

—

S

—47.294

33,989,535
9,:i68,70H

In 1896 the number of roads Included for the mo nth of December was 128;
1897. 130; In IS'JS. 122: in 1899. 110; In 1900. 121; In 1901, 104; in 1902.105;
We no longer Include the Mexican roads
In 1903. 99; In 1904, 95: in 1905, 96.
or the coal-mlnlng operations ol the anthracite coal roads in our totals.

lOli.978.224

116.253.9SI
133,775,020

m

Note.

+ 11,071,141

+ 4,049,23-1
+ 7,583,5611
+ 14.649,072

.iO,S91.659
(3.726, 5761 (4,199.785
!6,794,52,' 32.411.588
!3,24.'),01'J

46.525,454 38,842,111

wide

SUMMAKY BY GROUPS.

Anthr. Coal. (5)
Kast.& Mid. (16)
Mid. West. (14)
North West. &
Nor. Pac. (15)
South. West. &

104,2:>.'.3S5

its

Every group shows an improvement in both gross
and net, as will appear from the following.

Trunk Lines. (6)

90.7S9.6.')7

23,700,713 20,129.314
24,790,227 2:'., 220, 664
27,637,073 24,90S,012
(3, 0'.»3,.SOD 29,056.298
33,3,34,272 :!3, 766.831

—

when the roads

also strikingly revealed

is

+ 3.571.399
+ 1.569.563
+ 2.729.061
+ 4,037,502
—412,559
+ 2.353,390
—473.209
+ 4.382.939

+ 8.093.712
+ 3.830,289
+ 7.234,197
+ 9.324.162
+ 3,li39,19l

improvement

general nature of the

are arranged in groups according to their location.

Net Earnings.

December.

1896
1897
1898
1899
1900

improvement

character

Otoss Eamingi.

1905

,

+ 7,683.343

—

Net Earnings.

Gross Earnings.

Section or

Group.
S

December.

So.

Pac

Inc. or Dec.

1904.

1905.

1904.

1905.

4,676,840
8,290,821

(17)
(23)

S

10,378,080
3.786,016
1,346,228
4,042,9571
2,762,838
7,748,502

3,588,957
902,893
2,548,565

9,876,306

8.341,308

7,289,.372

29,218,545
8.450.140

24,919.428

21.430,835

34.461.982
18.067.706

31.724,781
16,510.188

12,278,006 10,677.411
6,098.380 5.493.605

^

'

+3,088,708 42.37
+197.059 5.49
+443.335 49.10
+214.273, 8.40

+ 1,533,998118.39
+ 1.601. 195!l4.99
+ 604,775,11.01
+ 7,683.343,19.78

For the separate roads, the Ust of gains is an unusu- Southern..
Total
(90) 133.775.020 119.125,948 46.525.454 38.842,111
ally striking one, though the returns for previous
+253.414>32.42
Mejclcan
2.156.307
1,034.925
781,511
2,458,904
(3)
months had made us pretty well accustomed to inStarting with the total of the gross in the foreWe will refer only to the
creases of large amounts.
it
list,
as
going,
of
the
we now add the roads which furnish figures
company which stands at the head
In this way we get an
would be expected to do— the Pennsylvania Railroad. of gross but not of net.
On the lines directly operated both East and West extremely comprehensive exhibit, covering every
of Pittsburgh (but not including the roads controlled road in the country from which it has been possible

and whose accounts are kept separate) the increase
in the gross reaches no less than S3, 077, 100, and the

to procure figures as to gross.

ROADS REPORTING GROSS BUT NOT NET.

This follows $1,-

increase in the net to $1,891,500.

and $1,039,800 increase in
net in December 1904. In December 1903, however, that system recorded $624,400 loss in gross and
$349,400 loss in net. The following shows all changes
on the separate roads for amounts in excess of $30,000,
whether increases or decreases, and in the case of both

December.

and

gross

are

net.

extremely

be noticed that the decreases
limited, being confined entirely to
It will

roads which have suffered from special drawbacks/.
PRINCIPAL CHANGES IN GROSS EARNINGS IN DECEMBER.
Increases.

I IICVCCISBS

RR

Penna

(2 roads). -_?/S3, 077, 100

Canadian Pacific
Baltimore & Oliio
Chic & North Western.
Chic Milw & St Paul...
Roclv Island System...
Union Pacific
Atch Top & Santa Fe..
Southern Pacific
Erie

1,057,040
1,038,260
634,070
606,882
602,097
592,952
551,874
515,823
484,566
424,839
363,081

.-.

.

Lehigh Vallev
Southern Railway
cot Louis & San Fran
Chicago & East 111..
Chesapeake & Ohio
Norfolk & Western
Atlantic Coast Line...

\

Central of New Jersey.
Missouri Kans & Texas
Philadelphia & Reading
Phila Bait & Wa.sh
Colo & Southern

Denver & Rio Grande.

MinnStP&SSM

346,980
326,746
281,637
245,747
229,591
222,763
i212,600
199,000
197,838
186,635
178,928

Missouri Pacific (2:rds)
Hocking Valley
Minn & St Louis
Cin New Orl & Te.x Pac

Western Maryland
Mobile

&

Oliio

Long Island
Iowa Central

& Gr Island.
Ontario & Western
West Jersev & S S
Dulutli So Sh & Atl...

St. Joseph

NY

Kanawha & Michigan.
& Ohio Cent...

Toledo

Nashv Chatt & St L_ _
Chicago & Alton
Pacific Coast
Bangor & Aroostook..
Central of Georgia
Cliicago Ind & St Louis

8103,369
91,851
74,831
72,681
69,136
60,636
58,362
52,481
51,649
48,759
47,200
46,679
43,048
40,455
39,567
38,756
37,668
33,583
31,721
30,417

Total (representing 51
roads)
$14,423,993

D^crcciscs
161,461
$98,655
141,618 Yazoo & Miss Val
Louis
Southwestern.
45,896
128,000
St
Northern Central
118,995
Chicago Great Western
118,769
Total (representing 2
Seaboard Air Line
roads)
$144,551
Wheeling & Lake Erie.
105,252
X These figures are for the Railroad Co.; the Coal & Iron Company
reports a decrease of $257,190.
y These figures cover the fines directly operated east and west of
The gross on Eastern lines increased $2,064,000
Pitt.sburgh and Erie.
and the gross on Western lines increased $1,013,100.

$

RR

Baltimore

Canadian
Atch Top

(2 roads)

Increases.
.?j$l,891,.500

&

Oliio..
Pacific

&

Santa Fe.

Island System
Lehigh Valley
Chic & North Western.
Missouri Kans & Tex..

Rock

Chesapeake & Ohio
Norfolk & Western
Erie

Union

Pacific

Chicago Milw & St Paul
Southern I'acific
Phila Bait

& Wash

Southern Railway
Waba.sh
St. Louis <fe San Franl
Cliicago & East 111..

744,530
683,914
382,707
373.627
255,134
223,071
212,466
193,210
187,263
178,716
177,511
160,060
1.59,524

147,100
141,898
141,592

Iticvcciscs

Wheeling & Lake Erie.
Hocking Valley
Minn St P & S S M

$83,816
83,651

Missouri Pacific (2 rds)
N Y Ontario & Western
Atlantic Coast Line
Buffalo Roch & Pitts..
Iowa Central
Seaboard Air Line

55,497
52,644
46,243

Colorado Midland
St Joseph & Gr Island..
Long Island

Mobile

&

Oliio

Nashv Chatt & St L...

81 ,565

45,4,53

42,936
45,441
39,924
39,714
38,772
32,716
30,376

Total (representing 39
roads)
$7,651,434

132,965
Decreases.
xl93,133
132,370 Philadelphia & Reading
Grand Trunk
122,712 Yazoo & Miss Val
148,949
Col South System
108,600
Northern Central
96,403
Total (representing 2
Central of New Jensey.
roads)
85,753
$342,082
Denver & Rio Grande.
a; These figures are for the Railroad Co.; the Coal <t Iron Company
reports a decrease of $19,975.
figures cover the lines directly operated east and west of
?/ These
Pittsburgh and Erie. Tiie net on Eastern lines increased $1,173,200
and the net on Western lines increased $718,300.

Decrease.

i

$

Alabama New Orl & Tex Pac

New

Orl

&

Northeastern..

Alabama & Vicksburg
Vicks Slirev & Pacific
Chic St Paul Minn & Omaha.
Detroit Toledo & Ironton,
incl.

257,184
137,966
127,913
1,115,642

216,081
145,375
152,998
1,067,627

41,103

379,376

318,053

61,323

4,101,019
256,823
33,486
588,000

3,506,284
204,013
25,316
605,271
3,438,863
13,409

594,735
52,810
8,170

59,460
6,893,934
4,362,638
1,.5.56. 905
304.837

34,626
852,149
913,041

Ann Arbor System

Great Northern incl. St P M
& M and Eastern of Minn.
Montana Central
lUinois Southern
International & Gt Northern.
Louisville

& NashviOe

3,532,2.50

Macon & Birmingham

12,027

Mobile Jack & Kan City, incl
Gulf & Chicago Div
New York Cent & Hud River
Northern Pacific _

94,086
7,746.083
5,275,679
1,496.517
315,417
68,456

Texas & Pacific
Toledo St Louis & Western..
Toronto Hamilton & Buffalo.
Total (113 roads)

J

Net increase (12.15%)

7,409
25,085

48,015

17,271

93,387
1,382

.56,411

60.388
10,580
12,045

59312944 142053423 17371056
1 7259521

111,535

The final result thus arrived at shows an increase
December 1905 over Decemberl 904 of $17,259,521
or 12.15 per cent, the total for the month in 1905
standing at $159,312,944, as compared with $142,053,-

for

423

This follows $9,858,462 gain (according to

in 1904.

the same methods of computation) in December 1904

over December 1903.

THE AMEBIC AN -GERM AN COMMERCIAL

Grand Trunk

Penna

Increase.

S

133775020 119125948 14649072

Reported above (96 roads)

lUinois Central

PRINCIPAL CHANGES IN NET EARNINGS IN DECEMBER.

1904.

1905.

630,700 increase in gross

TREATY.
[Communicated .]

CONCLUDING ARTICLE.
During the

fiscal

year 1904-1905

we exported

to

Germany, according to American statistics, values of
$194,498,258 and imported from there values to the
amount of $118,138,089. About one-third of the
American exports are treated by Germany according
to the conventional tariff or to the most-favored-nation
clause.

Of the German goods only a few have to pay

lower duties.

Promotion

of

Now

the

German "Association

Commercial Treaties,"

it is

for the

true, in one

of its latest publications, figures out that

if

no new

treaty should be accomplished and the rates of the

new

general tariff should be applied on the basis of

German

statistics for 1904, the totals of duties
paid
for the main articles of American export to
to be
Germany would be materially higher. According to

the

would be higher by 31,087,616
by 4,068,554 marks for
corn, by 3,684,322 marks for wheat, by 2,265,020
marks for lard, by 2,109,216 marks for mineral lubri-

their figures, the duties

marks

for refined petroleum,

——

,

Feb. 2 1

THE CHRONICLE.

1906.1

by 579,325 marks for provisions and by
658,660 marks for oleomargarine. But as material

eating

oil,

as these differences are as such, in balancing the interest
of either country to that of the other they play an inferior part.

portation

of

Germany cannot dispense with the imAmerican petroleum any more than

America is able to dispense with its exportation to
Germany. Nine-tenths of the petroleum consumed
It may only be
in Germany is of American origin.
possible
to refine the
would
be
questioned whether it
American product in Germany. As far as this cannot
be done the Germans will have to bear the heavier
burden, unless the Standard Oil Co. condescends to
lower

however,
mineral

is

material decrease of the export,

a

prices;

its

not to be apprehended. As to lubricating
the case is not very different, for the

oils,

American product cannot be replaced by that of another country. As to wheat and corn, there are, even
in Germany, as is well known, some differences of
opinion. The Agrarians maintain that Germany is
able to do without, or at least to get along with very
little, of American grain; while others contend that

depending on American and ArIn any case, however, it will be
gentinian grain.
easier for the United States to lose the export of grain

Germany

to

is

directly

Germany than

for

Germany

American

to lose the

Only

Argentina would secure the conventional rates, America
may, in years of abundant crops, regret not having
source of supply for her food markets.

come

a like

to

among

understanding.

Finally,

if

there

are

the American products which are regularly ex-

Germany

ported to

are not changed at

a good
all.

many

the duties for which

Cotton, books, copper, fercakes and seeds have

tilizers, furs,

naval stores,

been and

be (under the new general

will

oil

tariff of

Ger-

425

Either country not only desires but urgently needs the further extension of its commerce with the other. Germany has
hitherto been exporting to our country by far more manufactures than our country to Germany, evidence enough for
the fact that her industrial products are filling wants of our
people. We should, of course not lose a great deal of them
if the German general tariff were to take effect against us

—

would not change by that but we
should not be able to pay for the German products with those
We
of our country in the same proportion as heretofore.
should have to compete in Germany with other countries,
and in so doing be at a great disadvantage. During 1904-05
we exported to Germany cycles and parts thereof for $59,908;
clocks and watches, S22,741; fruits and nuts, $2,838,441;
builders' hardware and tools, $719,820; sewing machines,
$982,558; boots and shoes, $327,784; manufactured tobacco,
$123,228; wood, $1,295,201; lumber, $1,358,496. The conventional rates on these articles which Germany allowed
those seven States in her new treaties are by far lower than
the rates of her general tariff, and inasmuch as we cannot pay
by our exports, we should have to make good the difference
in cash. The fact that we are now exporting more values to
Germany than she is to us is, in aU probability, the consequence of our indebtedness to that country. With our products we pay dividends and interest. As soon as we lose the
opportunity for paying in this way, we must stand ready to
pay otherwise. Furthermore, in order not to lose the opportunity for trading in the German market, American capital
would emigrate to Germany; for German industrials are
eager to import American methods of production where they
are unable to import products, and abandoning the trade for
a while on our part may frustrate future efforts to regain it
altogether. All these consequences would tend to harm especially our laboring men. Thus, in spite of the statistics, the
real interests of both countries are nearly alike.
After all, it is on our side to decide whether our mterests
are large enough to grant Germany more concessions tnan she
has now, in order to receive an equal number of allowances,
though even with these allowances the German duties will
partly be higher than they are now. (In almost no case will
they be as high as ours.) But this decision cannot be reached
before the desires of Germany are known in detail. Up to the
present they have not been made public, for any public
discussion as to this point has been, on the request
in
of
Count Posadowsky-Wehner, carefully avoided
for the Dingley rates

many) free of duty. The exports of these articles to
Germany in the year 1904-1905 amounted to S114,457,039. Accordingly, not the entire American exGermany.
port to the amount of $194,498,258 will be affected,
It has, however, to be kept in mind that Germany did not
but at the maximum only a part of it to the amount enact her new tariff for the purpose of regulating her imports
The value on the other side is not by an automatic schedule of duties, but, as has been reof $80,041,219.

much

than the whole ($118,138,089); for as the
rates of the Dingley Law remain as they are, it is only
the articles mentioned in the agreement of 1900 which
less

peatedly stated, for the special purpose of preventing other
German exports according to an automatic tariff. She does not intend to make the rates of the
general tariff the rule and the conventional rates the exceptions, but, just to the contrary, to apply those rates only in
exceptional cases. She wants to stabilize the conditions under
which her merchants may trade with foreign countries, and
to this end she endeavors to bind other countries for a number of years of course binding herself in exchange. The
rates of the general tariff have been enacted in order to hold
out to other States an inducement for preferring the abanStates from treating

But amazingly little attention is
to the effect which a diminished
exchange of goods must, of necessity, exert on transportation and navigation.
It is the German navigation interests which would have to suffer from the loss
of trade, not the American, and this damage may
easily outweigh any possible excess of the American- donment of their Customs autonomy during a number of
German exports over the German- American ones. years to losing a part of their trade. As the stability of duties
will

be affected.

given in

Germany

—

Georg Gothein, a member of the German Reichstag
and of the Prussian Diet, estimates in his work, "Der
deutsche Ausserhandel" (German Foreign Commerce)
the cost of transporting the German imports from the

United States to be about 200,000,000 marks, and
according to the official statistics of our Commerce and
Labor Department, German vessels carried during the
year 1904-1905 imports to the amount of $143,403,175
and exports to the amount of $147,421,701 to and
from the United States.
however, almost impossible to moasurc the interests
mutual commercial relation by
means of statistics. Sta tistics fail to show the real economical
value of exports and imports, their usefulness for production,
for influencing the pri ces of the home market and for employment as well as the standard of life of the laboring clas.s.
It

is,

of both countries in their

by

is

more important to commerce and industrj'^ than the
Germany's attitude towards the United States
spite of the Agrarian agitation, not to be considered as

far

rates as such,
is,

in

but of facilitating, the exchange of commodities.
Gothein states that some classes of persons— especially
Government officials and some of those industrials who lost
a part of the market for their products on account of the prohibitive duties of America
consider a tariff war with the
United States a very desirable thing. He abhors the idea himself; and in fact a necessity of going to war in tommerce
would be generally regretted in Germany. The mere refusal
t. e.,
of a new treaty under the terms proposed by Germany
on the basis of real reciprocity, concession for oonrcFsion
would be, however, by no means a casus belli, and it could
not be called a tariff war if on one side the full ratrs of the
Dingley law and on the other the rates of the general tariff
would be applied. The German law contains the provision

in the interest of aggravating,

—

—

,

.

THE CHRONICLE.

426

that "dutiaJjle goods proceeding from States that treat German ships or products h'ss favorably than tliosc of other nations may, in addition to the duties provided for in the tariff,
be burdened with a surtax not exceeding twice the amount of
the tariff rate imposed on such goods, or even with a surtax
equivalent to the total value of the goods themselves. Goods
free of duty, according to the tariff, may, under the same con-

fVOI* LIXXIL

ITEMS ABOUT BANKS, BANKERS AND TRUST COS.

—The public

.sales of bank stocks thi.s week aggregate 336
which 2G8 shares were sold at auction and 68
shares at the Stock Exchange. The transactions in trust

shares, of

stocks reach a total of 175 shares.
A 20-share lot
Iron National Bank stock was sold at 2703^
an
advance of 203^ points over the price paid at the last previous
public sale, which was made in January.

company
of Coal

—

&

be taxed with a duty not exceeding 50% ad valorem.
In like manner, and save conventional stipulations to the Shares. BANKS— AVw York. Low. High.
contrary, foreign goods may be subjected to the same duties
34 Chatham National Bank. 30oH 30.5 K
144
and Customs formalities as are applied to German goods in 50 Citizens' Cent. Nat. Bank 144
20 Coal & Iron Nat. Bank..
270H 270}^
the country of origin." The condition of this provision would
xdS Commerce. Nat. Bank of 193J^ 195
not then exist, as the United States would treat only the pro46 Gallatin National Bank.. 39.5
395
ducts of those other States more favorably which made con10 Greenwich Bank
296
290
04 Market & Fulton Nat. Bk. 270
27114
cessions in exchange. The same reason holds good on the side
15 Merchants' National Bank 1703^ 170}4
of the United States. But that Germany is prepared for the
13 Metropohs, Bank of the.. 400
400
possibility of a tariff war, there can be no doubt. Under the
10 Park Bank, National
500
500
provision cited above, almost prohibitive duties would be
TRUST COMPANIES—A^ew York.
exacted almost only, not wholly prohibitive, for, agree50 Bowhng Green Trust Co. . 220
220
ment or no agreement, tariff war or not, Germany could not 15 Lawyers' T. Ins. & Tr. Co. 312 317Ji
110 Title Guarantee & Tr. Co. 670
670M
do without some of our products.
ditions,

—

Of course, writers of the Agrarian faith used to cite reports
of several chambers of commerce in which these boards com-

Last previous salt.

Close.

30514
144
2703^
193J4
395
296
27114
17014
400
500

Dec.
Feb.
Jan.
Feb.
Jan.
Jan.
Jan.
Jan.
Dec.
Jan.

1905—
1906—
1906—
1906—
1906—
1906—
1906—
1906
1904
1906

196
407 H
295
270
170
437 H
499

220
312

Feb.
Feb.
Jan.

190619061906-

225
325)4
673 ?i

670M

31«
146

250

X Sold at the Stock Exchange.

—

The New York Clearing House Association at a meeting
on Monday adopted a resolution approving the proposed
amendment to the national banking law to allow national
banks to loan to 10% of their combined capital and surplus,
was not now any profit in the export business and that this instead of to 10% of capital alone, as the law now specifies.
business was only kept up in the hope of a future more profitaj The amendment has already been endorsed by the Philadelble Customs agreement. Thus they try to show that part of phia and Pittsburgh clearing-house associations, and efforts
the German industries would not suffer a loss worth mention- will be made to secure similar action bj' the clearing houses
ing if they lost the American market. Other German indus- throughout the country.
tries, they say, would, in case of a tariff war, be benefited by
A membership in the New York Stock Exchange was
their American competitors staying out of the German mar- transferred this week for $90,000. Several weeks ago a transket, and their gain would be apt to easily outweigh any possi- fer was made at $93 ,000
ble loss sustained by the exporting industries, so that he
The interesting remarks anent trust company reserves
German economic body as a whole would be rather better off
made
by John E. Borne, President of the Trust Companies'
than worse. In order to prove the folly of this argument, one
Association of the State of New York, at the joint hearing
needs but to point to the large extent of the export of German
on the subject before the Senate and Assembly committees
manufactured goods to our country.
on banks on the 6th inst. have been issued in pamphlet form.
But, the points may be well taken or not, those war measOn or about May 1 the Greenwich Bank of this city will
ures'would apparently be the less important ones. By far
more efficient would be an agreement of the European States open a branch in the Mclntyre Building, at the northeast
corner of Broadway and Eighteenth St. This will make the
to unitedly compel the United States to either join in the
fourth
branch established by the institution, whose main
new policy of binding one's self as to the Customs duties for a
are
offices
situated at 402 Hudson St. The branches are loEurope.
There
is
of
her
products
out
number of years or keep
cated at Broadway and Forty-first St., Wool Exchange
Customs
European
formal
establishing
a
of
possibility
no
union against the United States, as Lorenz von Stein, the Building, West Broadway and Varick St., and 135 William
famous political economist, advocated in 1881, not even a St., corner Fulton St. The deposits were nearly 16,000,000
last Wednesday, about a million dollars increase in this item
possibility of a formal union of the Middle European counsince the previous bank call, made on Nov. 9 of last year.
tries. It is, however, possible that all European States, each
,

plain of the export situation, contending that, in consequence
of the American rates of duty, of the American way of levying duties and of the attitude of the American trusts, there

—

—

,

—

preserving her Customs sovereignty, might follow, by mutual agreement, the same commercial poUcy in their relation
with the United States, and that is, in case of a permanent
refusal of our Congress to come to terms, very Ukely to spring
forth. The idea is very popular in France, as well, where it

has been propagated by Molenari and Anatole Leroy-Beaulieu, as in Austria-Hungary and in Italy; in the main it was
Germany's opposition which was heretofore standing in the
way of such common policy. Count Capri vi, when Chancellor
of the German Empire, favored a commercial-political alliance. So did later the Austrian Minister, Count Goluchowsky
and the former ItaUan Minister, Luzzatti. Only a short time
ago Prof. Julius Wolff, of Breslau, in an article published
by the "Neue Freie Presse," of Vienna, submitted to public
discussion the idea of forming a scientific-political association
under the name "Europalischer Wisthschaftsbund" (European Economical Association), in order to prepare for and

—

The Mechanics' & Traders' Bank of this city will on
March 5 open a new branch at 138th St., east of Willis Ave.,
under James Thome's direction. The bank has two other
branches, one at Times Square and one at Madison Ave. and
Fifty-ninth St.

— The United National Bank of this

city, in which new inwere lately introduced, is to be converted into a trust
company. At a meeting on the 8th inst. a resolution was
passed by the board advocating the plan, and circulars have
been sent to the stockholders asking their approval of the intended change. The bank has a capital of $1,000,000 in
shares of $100. An equal exchange of stock of the bank for
that of the trust company will be made. As will likely be recalled, the new interests which came into the bank early the
present month are identified with the Consolidated National

terests

Bank of this city.
The plot at No.

—

1 Wall Street, Corner of Broadway,
promote the organization of an economical-political pool of this city, purchased last June by the Mercantile Trust
all European, or at least Middle-European, countries. He reCompany of St. Louis, is to be improved with an eighteenminds of Friedrich Liszt's organizing the "Deutsch Handels- story building. The plot is a comparatively small one,
verein" (German Commercial Association) in 1819, which, by
only 30 feet by 39 feet 10 inches, and the sale when it oopermanent and vigorous agitation and education, succeeded
attracted widespread attention by reason of the high

after years in causing the

German

countries to found the

"ZoUverein." Dr. Alexander Ton Peez member of the Upper
House of the Austrian Diet, recommends the alliance, and
adds that the new tariff conventions of the European States
seem to be the actual beginning of it. And as these conventions essentially aim at protecting the export industries of
the parties from being dealt with under autonomic tariffs,
,

Dr. von Peea's opinion

i«

likely to prerail.

curred

paid for it by the purchasers,
$700,000, or $598 20 per square foot.

price

—

the

amount being

The stockholders of the Jefferson Bank of thla city om
Wednesday authorized an increase in th» capital from
$400,000 to $500,000. The addition to ths capital, it it
understood, is made for the purpose of acquiring control
Th«
of the Monroe Bank, located at 97 Canal Str»6*.

Feb. 24
latter

began business on August

and has a capital

3 1903

Its deposits are in excess of

•f $200,000.

phin,

a million dollars.

this

Thalmann

who was Chairman

Bank

of this city

The National Bank of Commerce at Rochester, N. Y.,
whose application to organize was approved by the ComtroUer of the Currency last month, will open next week, on
March 1, in the banking rooms formerly occupied by the
Flour City National Bank, at 34 State St. The new institution has a capital of $500,000 and a surplus of $50,000. The
officials are Robert M. Myers, President; WiUiam H. Dunn
and WiUiam Deininger, Vice-Presidents, and T.J. Swanton,
Vice-President and Cashier.
Articles of incorporation have been filed at Albany for
the Bank of Great Neck at Great Neck, L. I. Messrs. William
A. Nash, Walter E. Frew and James McGovern, respectively
President, Vice-President and a director of the Corn Exchange
Bank of this city, as individuals, are organizing the bank,
which is to have a capital of $50,000 in shares of $100 each.
There will be no surplus except as earned. The Corn Exchange
now has in operation nineteen branches and two additional
ones will soon be ready to begin.

adopted

tober 1904.

The question

of increasing the capital of the Pacific

Bank

of this city from $422,700 to $500,000 will be submitted to
the stockholders at a meeting on March 20. The bank is located at 470 Broadway.

— On March

1

—

the Lincoln Trust Co. of this city will open

downtown branch

at

Broadway and Lispenard

St.

— Leopold Friedrich has been appointed to succeed Walter
A. Hohn, resigned, as Manager of the foreign exchange deof the Oriental

Bank

of this city.

—Continuing the practice initiated last year,
Van Norden Trust

Co., Fifth Ave.

the officials

and 60th

St., submitted a printed report to its stockholders at the annual
meeting, Jan. 17 1906, reviewing its business during 1905.
This report is published in the February issue of the company's Bulletin. Apparently the institution has enjoyed a
After deducting exprosperous year in all departments.
penses and taxes, the profits for the year were $196,650, or
aearly 19 2-3 per cent on the capital stock of $1,000,000.
Out of this amount $80,000 was paid in dividends and $52,983
•harged off for furniture, fixtures, &c., leaving $63,666 to be
added to undivided profits, increasing this item to $273,250
and the book value of the stock to 227 1-3. The trust department profits, $24,169, were double those in 1904, and
the bond department sold $1,037,500 of bonds, par value.
Of the 4,873 accounts on the institution's books, 1,678, it is

of the

—

The stockholders of the American National Bank of
Providence, R. I., formally placed their institution in volunArrangements for the
tary hquidation on the 12th inst.
transfer of the bank's business to the Rhode Island Hospital
Trust Company were concluded early in January.

—

The Union Trust Company of Springfield, Mass., which
had already taken over the City National Bank of Springfield, and is about to liqmdate the First National, has also
arranged for the transfer to it of the business of the Second
National and John Hancock National banks. The directors
of the Second National, at a meeting last Saturday, decided
to merge the institution's business with that of the trust
company, and the stockholders will authorize the step on
March 30. The Second National has a capital of $300,000,
surplus and profits of more than $200,000 and deposits of
about $1,300,000. It has been the Hquidating agent of the
Agawam National Bank since the latter went into voluntary
hquidation a year ago. Action on the proposition to merge
the John Hancock National Bank with the Union Trust was
taken by its directors on Monday the 19th inst., and on
March 28 the stockholders will indorse the directors' recommendation and formally place the institution in liquidation.
It is stated that both the Union Trust and Hampden Trust
companies were bidders for the John Hancock bank. It haa
a capital of $250,000, surplus and profits of $80,355 and deposits of little less than half a miUion doUars. The stock ia
expected to liquidate between 110 and 115. Edmund D.
Chapin, its President, has been connected with the bank since

no interest and 2,380 were opened in 1905.
In the last three years deposits have steadily increased,
standing at $5,657,000 on January 1 1904, $8,222,900 January 1 1905 and $9,590,980 January 1 1906. Undivided profits account advanced in the same period from $101,720 to
$273,250. Besides extended comment on the gratifying condition of affairs in the Nineteenth Ward Bank and the Van
Norden Safe Deposit Co., both affiliated concerns, the report
includes a list of the trust company's American, Canadian
and foreign correspondents. The stockholders received in
1905 8 per cent in dividends and the stock is now on a regustated, receive

lar 8 per cent basis.

—The

Phenix National Bank, 49 Wall Street, this city,
pamphlet showing a facsimile of its January 29 report to the Comptroller, giving
the statement in detail and also the full schedule requii-ed
by the Treasury Department. The officials state that their

is

now

distributing copies of a

it

started in 1850.

Bank,

The stockholders of the First National
meet on March 5 to act on

as previously stated, will

—

hquidation. The taking oyer of these institutions the
City National, First National, Seeond National and John
Hancock National banks is in accordance with the announcement made by the trust company when organized, the present year, that it planned the absorption and liquidation of
its

perhaps, the first bank to publicly issue the
itemized statement furnished the Comptroller, disclosing
the exact character and value of its assets.
The report
bears the endorsement of the Examining Committee appointed by the Board: Elbert H. Gary, Chairman Board, United
States Steel Corporation, R. H. Higgins Jr. of Harvey
Fisk & Sons, D. Crawford Clark of Clark, Dodge & Co.,
institution

the articles of incorporation

—

directors of the Oriental

partment

amend

17th inst.

resolutions on the 21st inst.- recording expressions of their
sense of loss sustained in the death on the 10th inst. of
Anderson Fowler, a member of the bank's board since Oc-

its

Jamaica Savings Bank, appears

application.

of the

of the board.

The

the

Ridge wood Bank of Brooklyn Borough, to provide for
the estabhshment of branches in the boroughs of Queens and
Brooklyn, was favorably accepted by the stockholders on the

city

replaces Charles S. Fairchild,

of

—The proposition to

Tftcancies
of

President

among those making the

on the board of the New York Trust
were filled on Wednesday, when
Chauncey Keep, of Chicago, and Ernst Thalmann, of
Ladenburg, Thalmann & Co., were elected trustees. Mr.

Xwo
Company

427

THE CHRONICLE.

1906,1

is,

—

several national banks.

—

B. N. Bullock, President of the Fitchburg National
Hamilton of J. P. Morgan & Co. None Bank of Fitchburg, Mass., died suddenly in Bo.?ton on the
of the officers or directors have any loans with the bank or 20th inst. He was seventy-four year.«i of age.
are personally indebted to the same.
The schedules also
The consolidation (mentioned in this department
indicate there arc no bad debts or other suspended and January 20) of the Rollstono NatioiuU Bank and the FitchoTcrdue paper carried by the bank. Mr. Finis E. Marshall burg Trust Company, of Fitchburg, Mass., has been con-

and William

Pier.son

—

aunnnatcd, the new in.stitution taking the name of the
Brooklyn Borough, which Fitchbvng Safe Deposit & Trust Company. Its officers are
is shortly to increase its capital from $300,000 to $750,000,
George R. Wallace, President; Henry A. Wilhs, Chairman
kas added to the number of its officers, having elect(>d Cashier of the Board; Herbert G. Morse, Secretary, and Wilbur B.
Edgar McDonald to the position of Second Vice-President. Tenney, Treasurer.
Mr. McDonald has been in the bank's service more than fortyThe Second National Bank of Haverhill, Mass., merged
two years. His successor as Cashier is Daniel V. B. Hege- with the Haverhill Trust Company, was placed in Toluntary

is its chief

executive.

—The Nassau National Bank

of

—

«an, formerly

Assistant Cashier.

— Permission

liquidation on the 12th inst.

—

H. L. Evans, of the failed ftrto of 11. L. Evans & Co.,
was granted by the Comptroller on the 13th of Wilmington, Del., has resignr.d as Vicc-Prrsidont and diThe capital will be $100,000. The name of J. H. Sut- rector of the National Bank of Delaware, at Wilmington.

maica, L.

to organize the First National

Bank

of Ja-

I.,

j

last.

I

THE CHRONICLE.

428

—The bankers' committee which had been endeavoring to
straighten out the affairs of Denison, Prior & Co. of Cleveland, and composed of H. R. Newcomb, E. G. Tillotson, H.
P. Mcintosh, George A. Garretson and John Sherwin, has

Washington Reed, Assistant Cashier, and Walter
H. Taylor, General Counsel.

Cashier;

— The National Exchange
tal

notified the creditors that they will

no longer serve as such
committee. The reason for the action was that the committee did not receive proper support from the creditors.

—

Charles R. Wheeler, formerly Vice-President of the First
National Bank of Peoria, 111., has become President, succeeding John C. Proctor. The bank now has two Vice-Presidents instead of but one, as previously, William E. Stone replacing Mr. Wheeler and Charles S. Proctor having been
chosen Second Vice-President. George M. Bush, H. C. Bing-

(Vol. lxxxii.

Bank of Lexington, Ky., capi$100,000, |Was placed in voluntary liquidation on Jan. 11.

—

The opening of the City Bank of Memphis, Tenn., occurred on the 15th inst., the institution occupying the former
banking rooms of the failed Merchants' Trust Company. The
officers were given in our issue of last Saturday.
John P.
Edmondson continues as the trust company's receiver and
an early distribution to its depositors is expected.

—

The Holston National Bank of Knoxville, Tenn., in its
new statement issued for Jan. 29 1906, shows that deposits
the last three months increased from $823,564 (Nov. 9 1905)
ham and C. C. Cutter are Assistant Cashiers.
to $871,259.
During the same period aggregate resources
Clarence S. Darrow, attorney for Receiver Daniel D.
advanced from $1,390,943 to $1,439,691. The officials are:
Healy of the Bank of America, of Chicago, announced after
Joseph

—

the bank's closing last week that he would assume the obligations of its savings department. He distributed approximately $18,000 on the 16th inst. to the savings depositors.
Mr. Darrow's name, it appears, had been used in connection
with the advertisements for that department. Mr. Darrow
issued a statement concerning the bank in which it was said
that, upon an investigation, it was found that about half of
the stock had never been paid for. The bank's capital was to
be $250,000, with a surplus of the same amount. Following
the close of the institution a receiver was named for the F. E.
Creelman Lumber & Manufacturing Company of New Orleans, La., said to be the heaviest debtor to the Bank of
America, Mr. Creelman having been a director of the bank.

—

The Jackson Trust & Savings Bank of Chicago announced
on Tuesday that it would take advantage of the law requiring sixty days' notice for the withdrawal of deposits.
This action resulted from a run instituted on the bank the
previous day, the impression having gained ground among
some of the depositors that the bank was involved with the
Bank of America. W. H. Eagan, President of the Jackson
Trust, issued a statement in which he said that the report
that the institution held from $60,000 to $100,000 of Creelman Lumber Co. paper was a fabrication. "The bank,"
he stated, "did hold some Creelman paper, but it has been
closed out."
The directors announced on Wednesday that
Mr. Eagan had resigned as President, and that the sixtynotice would be withdrawn.
Vice-President David
Decker and Joy Morton, a director, are said to have placed

capital; surplus

and

not

—

Louis B. Farley has resigned as Cashier of the Merchants & Planters'-Farley National Bank of Montgomery,
Ala. Mr. Farley was Cashier of the Farley National Bank before its consolidation, in April 1903, with the Merchants &
Planters' National, and was retained in the same position
when the union of the two occurred.

—

The last published statement of the American Trust &
Savings Bank of Birmingham, Ala., for Jan. 25 1906, shows
that the business of the institution is still gaining. The table
of deposits given below serves to give an idea of the growth
of the institution:
Jan. 25 1906
Nov. 9 1905
Aug. 25 1905

$3,004,165 Jan. 11 1905.51,895,820
2,900,243 Apr. 1 1904
547,379
2,574,980 Apr. 1 1903 (opening day)
89,454

The bank began business on April

1903 and in less than

1

three years has accumulated deposits of over three millions

W.

—

E. Ziehme, President of the Ravenswood Exchange

of Chicago (capital $50,000), has sold his interest to
Dr. W. C. Abbott and Louis P. Scoville. The latter, who was

th« First National.

—The progress made by the

Vice-President and Cashier, has been elected President,
and Dr. Abbott has been chosen Vice-President. The following have been elected to the bank's board: John A. Schmidt,

Bank of

will

The First National Bank of Austin, Tex., was placed in
voluntary liquidation on the 15th inst. It is understood that
its deposits have been transferred to the Capital Bank &
Trust Company, a new institution organized by interests in

and

Bank

Cashier of the Metropolitan Trust & Savings
Peter Bartzen and Peter Reinberg.

office building. It is likely, however, that the work
be started on the structure until the coming year.

CM.

deposits of over $1,000,000.

— A.

unanimously on the 15th inst.
from $100,000 to $200,000. The addi-

tional stock will be allotted to the present stockholders pro
rata at $160 per $100 share. The company ^is the owner of a
site, acquired a year ago, at Union Street and Third Avenue,
and plans thereon the erection of a four or five story bank and

are:

bank to cover all losses.
November 1903 and has $250,000

profits (Jan. 30 1906) of $66,924,

to increase the capital

ofidollars.

sufficient cash at the disposal of the

in

—The stockholders of the Union Bank & Trust Company
of Nashville, Tenn., resolved

W. W. Crawford is the President. His associates
A. Porter and H. L. Badham, Vice-Presidents; H. B.
Urquhart, Cashier, and
Williamson, Assistant Cashier:
G. Bi. McCormack is Chairman of the board of directors.

day

The bank began business

P. Gaut, President; David A. Rosenthal, Vice-President, and Ralph W. Brown, Cashier.

Fort Worth National

Bank

Worth, Texas, from November J1903 to the present
time (but little more than two years) is illustrated in the figof Fort

Chicago;

shown below:

ures

Surplus and
Date.
Jan. 29
Nov. 9
Nov. 10
Nov. 17

—

1906
1905
19041903

Aggregate

Capilnl.

Profits.

Deposits.

$300,000
300,000
300,000
300,000

$431,475
422,785

$3,245,506
2,734,395
2,242,689
2,048,059

Resources.

The application to convert the Manufacturers' Bank of
Chicago into the Monroe National Bank, referred to last week,
3(52,928
338,857
was approved at Washington on the 15th inst.
Deposits, now at $3,245,506, compare with but$2,048,059
A. H. Comstock is Vice-President of the City National
in November 1903; surplus and profits have reached $431,475,
Bank of Duluth, Minn., in place of A. R. MacFarlane.
as against $338,857 at the earlier date, while aggregate reIt is reported that the Springfield Savings Bank of sources have grown to $4,276,976 from $2,886,916. The ofSpringfield, Mo., has consoUdated with the Springfield Trust ficials are: K. M. Van Zandt, President; R. L. Elhson,
Company.
N. Harding and L. C. Hutcliins, Vice-Presidents; Oscar

$4,276,976
3,757,175
3,105,617
2,886.916

—
—

— Arrangements are already being made

Wells, Cashier, and

for the program
Virginia Bankers' Association,
announced, will be held at the Hotel Chamber-

was

Bank & Trust Company of Norfolk, Va., has amended its charter, changing its name to
the Virginia Bank & Trust Company Incorporated.
Authority to make the change was given the institution by the
Virgim'a Corporation Commission on the 8th inst. The intenin these

columns Feb.

3.

The

institution continues to transact a general banking, savings and trust business, under the same management as heretofore, with

William C.

James W. Hunter, President; John

Roper and
Whittle, Vice-Presidents; Hugh G. Whitehead,

effected at a

—

—The Virginia Savings

was recorded

Sledd, Assistant Cashier.

of the New Mexico Bankers' Association
meeting held at Albuquerque on the 15th
inst. At the conclusioa of the preliminary details
the adoption of the constitution and by-laws
the following officers
were elected: President, C. N. Blackwell of the First National
Bank of Raton, N. M.; Vice-President, R. J. Palen, President
of the First National Bank of Santa Fe.; Secretary, H. D.
Bowman, President of Bowman's Bank of Las Cruces;
Treasurer, J. B. Herndon, Cashier of the State National Bank
of Albuquerque.

which, it is
lain, Old Point Comfort, on June 21 and 22.

tion to alter the title

Elmo

— Organization

for the convention of the

—

— Gen. John R. Mathews has been elected President of the
State

L.

I

J.

Bank & Trust Company of Los Angeles, succeeding H.
who has become Vice-President.

Woollacott,

THE CHRONICLE.

Feb. 24 1906

plonctarylCl^ommcvciallittgUsTi^^jexus
(From our own Correspondent.)

London, Saturday, February 10 1906.
All departments of the Stock Exchange continue inactive
and depressed, with' the exception of that for British Government securities. Last week there was a more hopeful feeling

both in Paris and in Beriin, as it was believed that communications were passing between the French and German governments for an arrangement of the differences between them
respecting Morocco. This week a much more pessimistic
It is feared that Germany will not give
feeling prevails.
way upon the question of policing Morocco, and consequently
Indeed,
it looks as if the conference would come to an end.
the German press during the week has been preparing the
world for a failure, inasmuch as it has been protesting that
even if the conference fails there will be no war since Germany

429

reports tend to show that trade at home is improving equally
with the foreign trade.
Money continues exceedingly scarce, and the outside mar-

ket has borrowed a very large amount during the week from
The Bank, of late, has shortened very
the Bank of England.
materially the time for which it is willing to discount bills.
The bill brokers complain of this, and say that they have
to borrow upon Government and other high-class securities,
It is genas the Bank will not discount for longer periods
erally understood that the reason why the Bank is acting so
is that it is intending to pay off during the week after next
most of the loans it obtained a little while ago from the outAnd consequently it is desirous that the loans
side market.

due to it from the outside market shall fall due at the same
time as the loans due from it to the outside market. In that
way it hopes to neutralize the effect of its own re-payments
and thereby to retain complete control of the open market.
It will be assisted by the fact that the collections of the revpacific
is completely
enue are now on an extraordinarily great scale. And it will
It is reported from various quarters that the French Govfurther
be assisted by the inactivity of the great French
ernment has made an attempt to settle the difficulty by askThe Berlin exchange upon London has risen above
banks.
ing the Swiss Government whether it would undertake to
the
point
at which it would pay to ship gold from Hamburg
The
Morocco.
Swiss
policing
for
Governofficers
provide
ment very wisely refused to do so. Italy has proclaimed to London. At. the present time the Imperial Bank of Gerprevent such shipments, and it
through its press of all shades that it will not police Morocco many is exerting itself to
is possible that they may be postponed until after the new
And
unless it is requested by both France and Germany.
commercial treaties come into force. But the best informed
all the small Powers are afraid to meddle in business which
might involve them in grave dangers. In consequence of are decidedly of opinion that considerable gold shipments
aU this there is a very anxious feeling in Paris; and even in will be made before long from Germany to London. The
It is now deIt is not believed in Paris exchange upon London is also rising.
Berlin there is a good deal of anxiety.
cidedly above the point at which it would pay to ship gold
either city that Germany, having wrecked the conference,
It is possible, of course, that if alarm
Neither is it thought possible from London to Paris.
will make war upon France.
great
in
France
that gold may nevertheless be
becomes
very
But everybody is conthat France will fight for Morocco.
London.
Otherwise
it seems certain now that
taken
from
vinced that the failure of the conference will leave an exFrance en- no more gold will be shipped from London to Paris.
ceedingly unfavorable impression in France.
The India Council offered for tender on Wednesday 100
tered into arrangements with the United Kingdom, Italy
lacs of drafts, and the applications amounted to 811 lacs at
and Spain for the express purpose of getting a free hand in
Morocco. She has been stopped by Germany. Then she prices ranging from Is. 4 l-16d. to Is. 43^d. per rupee.
agreed to the demands of Germany to bring the matter be- Applicants for bills at Is. 4 l-16d. and for telegraphic transallotted about 13% of the
fore an international conference and let it be decided there. fers at Is. 43^d. per rupee were
applied
for.
amounts
If Germany causes the conference to fail, France will be
The following return shows the position of the Bank of
convinced that Germany has deliberately done so for the England, the Bank rate of discount, the price of consols, &c.,
purpose of compelling France to place her whole foreign compared with the last four years:
,

pohcy at the orders

of

Germany.

Business hence is very stagnant both in Paris and in Berlin.
In Paris everybody is afraid to engage in new risks.

Even

London the

Circulation
Public deposits
Other deposits

1906.
Feb. 7.

1905.
Feb. 8.

Fei). 10.

1903.
Feb. U.

£

£

£

£

28,23.3.720
9,6.38,276

27,311,740
9.459,079

41,794,989

.39,448,004

1904.

28.127,905

27,749,055
9,081,614
41,635,576
19,229.834
24,826,750
24,900,000
34.199,147

11,2.39.705

39,677,093

1902.
Feb. 12.

£
28.734.310
14,078.008
39,432,028
17,274,486
28,664,669
25,934,416
36.893,728

15.062,127
French banks which for several Governm't securities 12,584,867 16,603,585
28,984.448
OtUer securities
33,311,131 24,427,700
25.170.852
years past have been employing immense balances here are Re.serve,notes&coin 23,791.636 27,045,038
Coin&bull.,bothdep 33,575.356 35,906,778
35.123.757
literally doing nothing.
They have stopped renewing bills, Prop, reserve to liabilities
46!^
49
49
55 3-16
48Jf
P.O.
3
4
4
3
and they are employing exceedingly little money on the Bank rate
p. c.
4
Consols, 2H p. c-..
88 5-16
92 13-16
94 11-16
90 7-16
88^
2fii<(d.
22 l-16d.
25%d.
30 3-16d.
26Md.
Stock Exchange. In Germany trade is very active, and Silver...
Clear.-house returns 231,817,000 206,614,000 178,131,000 176,230,000 176,078,000
people are looking forward to the future hopefully. The
The rates for money have been as follows:
fears that were entertained respecting the new commercial
Jan
Feb. 2.
n Feb. 9.
Bank
of Ensland rate
4
4
treaties are passing away, and that the general expectation
Open market rates —
311-16®3^
Bank bills — 3 months
Z'A@3Ji
is that trade will continue good is proved by the fact that
—
3 11-16
months
3^@3 U-16
354
— 64 months
3 5-16(5)3^
35^@3H
3K®3H
new ships are being built for Germany at home and abroad
Trade bills — 3 months
4(^4^
4(«)4>i
— 4 months
4®4J4
4@4K
on an immense scale. All the German building yards are
Intere.1t altowcct for deposits —
By
joint-stock
banks
2H
fully employed, and in this country more]than half a dozen
2H
By discount houses:
At call
3
3
large ocean steamers are under construction also for Germany.
7 to 14 days
3K
3M
Here at home trade iS' steadily improving. But in the
The Bank rates of discount and open market rates at the
Stock Exchange, as already said, there is exceedingly little chief Continental cities have been as follows:
doing.
The Egyptian Government is believed to be still
Jan. 20.
Feb. 3.
Jan. 27.
Feb. 10.
Open Bank
Open
Bank
Open Bank
Rates'of
Open Bank
buying consols; so is the Indian Government; and large inInterest at —
Rate. Market. Kate. Market. Kale. Market. Ra'e. Market.
P.arls
3
2%
2 9-16
3
2 9-16
3
3
2H
vestors are also buying, as it is now certain that the new Berlin
315
5
3H
5
5
3H
35l
5
Hamburu:
5
3H
5
6
3H
3}|
3H
Government will take measures to make the sinking fund Frankfort
5
3 9-16
5
3%
5
5
3 7-16
3>5
11-16
Am.sterdam
3
2 11-16
3
2 13-16
3
3
2H
effective.
"With the exception, however, of the market for Brussels
4
4
3 13-16
4
4
3%
3H
3M
Vienna
4
4H 4
4H
4H 4
4H 3j|
British Government securities, there is little doing, although .St. Petersburg
nom.
nom.
nora.
8
7
nom.
8
8
4
Madrid
4
4H
4H
4H 4
4H 4
the railway reports and dividends are satisfactory, and the Copenhagen
5
5
5
5
4!^
4H
4H
traffic returns show that since the new year set in the prosMessrs. Pixley & Abcll write as follows under date of
pects of the railways have further improved.
Yet there is February 8:
GOI,n. — Arrivals this week h.ive been small and the B.ank of Kncland h.as secured
not much activity in the railway market, for until people can
Next week we expect
the greater part of thetn, amounting to about £l5fl.n00.
from the Cape. Since our l;ist the Bank has bo\ight £443.000 In b.irs. while
see more clearly what is likely to be the outcome of the £409.497
£300.000 has been withdrawn for South America. For the week: Arrivals — AustraWest Indies, £23.000:
Algeciras Conference, everybody thinks it wisest to do lia, £5.'>'.),0n0: South Africa, £245.000; Bombay, £135,000:
total, £962.000. Shipments -Bnuibav. £101,800: Madras, £3,000; total. £104, .800.

in

large

_

;

nothing.

For the month of .January: Arrivals,— Belgium, £44.000: France, £1.5,000: South
Shipments -Belgium, £297 .OOO; France.
Africa, £ ,.';78.000: India. £189.000.
£ ,468,000; Argentine. £770,000: South Africa, £ 10,000; India. £269,000.
SILVKH .—The market remains firm at HA. rl.se on the week. The Indl.an Oovemment continues buying, and. with some Continental orders, the amotints offered from
Ainerica are readily absorbed. There h;vs been a better demand tor forward, and the
1

The Board of Trade returns for January arc highly satisfactory.
The value of imports amounted to £53,475,830,
being an increase over the corresponding month of last year
of £5,709,370, or 12%.
The value of the exports was £30,774,811, showing an increase of £5,785,034, or 23.2%.
The
value of the re-exports of foreign and colonial produce was
£7 445,855, an increase of £1,331,968, or 21.8%. All the

1

difference has now shortened to ll-Kld. The Bazaars are comparatively Idle, the
eliwe steady at 30>f d. for spot
qiiotatlon there being Rs. 75!^ per 100 Tol.ahs.
aiKl 29 9-16d. for two months.
For the week: Arrivals -New York, £303,000;
.Shipments— Bombay.
A\istralla, £13.000: West Indies, £27.000: total. £:v»:i,000.
£244.800; Bombay (In $). £217,700: Colombo, £r, 1,700; totjvl. £527. '.'00. For the
month of January: Arrivals— (iermnnv. £111.000: France, £44,000; IT. S. A.
£ 1 .885.000. Shipments—flermany, £5.000; France, £ 153,000; India. £ 1 ,568,000.

We

MEXICAN DOLLARS.— There
and

their

nominal quotation

Is

Id.

Is

practically no business to report In these coin,
America. £29,000.
stiver bars. Arrivals

under

—

.

.

THE CHRONICLE

430
The quotations
GOLD.
lyondon tSlaiulard.

Feb.

s. d.

s.

Bar sold. line. 07,
77 9
70 4,
U.S. Kold com, oz
German ^'old ooln, oz.. 76 4V
rroiuli told coin, oz
Japanese yen, oz

8,045

for bullion are reported as follows:

Feb. 8

7(1

4W
4

70

cl.

9H

77
76
76
70
76

SILVER.

1.

4'4
4'.?
41-3

Feb. 8.

/'fft.

hrnitinn Stanilnrd.
d.
BarsllviT, line, oz
30K
" :; nio.d('llvery,oz.2y y-lC
Cakesllver. oz
.325^

d.

32H

nom.

1905-00.

1004-05.
4a..SO7.O00
12.7O(;.o00

12.4'.)0,900
5. 429, .SOU

OaU

Peas.

9liS,l):i5

Beans

440,490
20,125,100
7,388,600

Indian corn
Flour

1903-04.
40.105,901
lS,0(',!).:',(i8

7,12S,498
1,100,809
1,114,358
23.740,297
11,067,624

5,>>l:i.L'00

1,041,251
774,700
20,123.200
5,317,420

$50,000.
W. E. HoUoway, President; L. Lanier, Vice-President; llarver\' Flemint;, Cashier.
Capital, $25,000.
Citizens' National Bunk of Pella, Iowa.
Kruidenier. President; H. Wonnhoudt, Vice-President
J...
B. II. Van Spanckiner Jr., Cashier.
8,048— The First National Bank of Joseph, Oregon. Capital, $25,000.
L. Knapper, President; Albert Wurzweiler, Vice-President;
K. H. Bhiesser, Cashier; F.'F. Scribner, Assistant Cashier.
8,049 The First National Bank of Herman, Minnesota. Capital, $25,000.
Rodney Hill, President; Charles B. Kloos, Vice-President;
Ernest E. Peck, Cashier; A. L. Nelson, Assistant Cashier.
Succeeds Peoples' Bank of Herman.
8,050 Tin- First National Bank of Ravmond, Minnesota. Capital, $25,000. H. J. Dale, President; ^. O. Gold, Vice-Pre.sident; F. O.
Succ<;eds Stato
Orth, Cashier; J. H. Ortb, Assistant Cashier;

8,047—Tlie

4WI

36,8fi5.00n

—

8,040

29J4

The following shows the imports of cereal produce into
the United Kingdom during the season to date compared
with previous seasons:
IMPORTS.
TwenW-tf'Tee weeks.

1902-03.
35. 555, 708

10,104,824
7,399,728
9;in,312

989,452
10,540,710
8,873,150

—
—

Raymond.

of
Capital,
First National Bank of Cold Spring, Minnesota.
— TheBank
Anton Mugsli. President; N. M. Barnes, Vice-Presi-

8,051

825,000.

Supplies available for consumption (exclusive of stock

on September

1):

Wheat Imported, cwt
Imports of flour
Bales of

home-grown

Total

Averace
Average

price wheat,
price, season

week

1905-00.
36,805,000
7,388,600
17,742,556

1904-05.
45,507,000
5,317,420
8,329,320

1903-04.
40,105,961
11,007,024
9,608,083

1902-03.
35,555,768
8,873,150
11,791,409

01,996,156
2Ss lOd.
27s. lid.

69,153,746
30s. 6d.
30s. 3d.

60,781,668
20s. 9d.
26s. lid.

56,220,327
25s Od.
25s. 7d.

The following shows the

quantities of wheat, flour and

maize afloat to the United Kingdom:
qrs. 2,640.000
qrs.
200.000
qrs.
615,000

Flour, equal to

Maize

The

British imports since Jan. 1
1900.

January

£

Exports.

1906.

...30,774,811

The re-exports of foreign and
show the following contrast:

PerCt.

+ 12.0

47,766,460 -f-5,709,370

7.445.855

Diflercnce.

Per

ct.

+23.2

£

£

1

Per Ct.

+ 21.8

6,113.887 +1.331.968

English Financial Markets

— Per

Cable.

The daily closing quotations for securities, &c., at London
as reported by cable have been as follows the past week:
London.
Sat.
Mon.
23.
d. 30 11-10 30 9-16
Consols, new, 2J^ per cents.. 90^
907-10
Foraccount
90 9-16
90?^
French Rentes (in Par.) Ir... 99.75
99.50
14'4
6Anaconda Minins Co
HH,

Week ending Feb.

Silver, per oz

& Santa
& Ohio

Atch. Top.

Fe

Preferred

92K

92
106

Preferred

Illinois Central

Louisville & Nashville
Mexican Central

Preferred

177>i
152
24!^

177H
151H

National

35M

35J^
70}^
39
152
52
89j^

RR.

of

Mexico

N. Y. Central ct Hudson
N. Y. Ontario & Western... 52H
Norfolk & Western, com
89M
Preferred

Northern Pacific
Pennsylvania

7lH
70^
48K
bXH
20!^
&!%
39H

oReadineCo
a

First preferred

a

Second preferred..

Rock

Lsland

Co

Southern Pacific
Southern Railway, com
Preferred

102
Pacific, common
155J^
Preferred
100
U. S. .Steel Corp., common.. 43
Preferred..
llOH
Wahash
22}^
Preferred.
46
Debe nture "Bg"
79

a Price per share.

_

183?<
46,W
91

45
80

44?-i

44J^
80

72H

178

177H

150M

151

70^

25
35

70H

35H

153
52J^
89J^

39
153
52
89J^

94
232

94
231!^

IIH

71

70H
39
153
51'4
89}|

95

HVs

152H

olH

895^
94
229

TIM

m%

llVi

10)4

48!.f

rf47

48J^

51

(>1H

51H
26M
67^

51M
26K
67H

102j|
156j|
100
43

393^
103
156}^
100
43

109%

Wi%

23}^
47
80J^

fifSterling per share.

SO

175H
58
2l}4
1843^
46
91
445^
795^

179
152
25
35V^

39M

l'i]4,

58

178
152
245^
35!^

2V,]4

•

d\7b

71

71H
69H
48M
51K

f,7H
39
102!^
1,55^
100!4
42-K
109
23
46

Fri.
11-16

.30

72H

39

69V^
49
SO

Union

•

21H

185
46)^
91

90H

92K
71H

94
229

2VA

185
47

24H

72
38J^
153

2VA

178'-l

44J^
80
72

Mo. Kan.s.* Texas, com

58!^

WCiM
lOlJ^

45K
TiH

80

14%
92H

Thvrs.

309-16

90 5-16 90J^
90 7-16 90 9-16
99.32}^ 99.35
14%
liVa
C92'^
92-M
cWb'i
107
dll4
114
lOl

100
115?4
101J4
17751
58'4

101

91J,<^

Erie, common
First preferred
Second preferred

li%

177J4
57?i
2V/i
184!^
46J^

91

Wed.

Tues.

30>.^
ZOV,
90 7-16 90^1
90 9-10 905^
99.27}^ 99.32

93
100

100
11554

Baltimore
115K
-Preferred
lOlH
Canadian Pacific
176M
Chesapeake & Ohio
5854
Chicaffo Great Western
21H
Chicago Milwaukee &St.Paull80
Denver & Rio Grande, com.. 45J^

8,053

—

c

Wm.
Wm.

Succeeds New Haven Deposit Bank.
8,054 The Farmers' National Bank of Stephenville, Texas. Capital,
$25,000. W. H. Frev, President; D. S. Livingston and E. E.
Hatchett, Vice-President.s; W. A. Hyatt, Cashier.
8,055 The Merchants' National Bank of Glendive, Montana. Capital,
$50,000. Henry F. Douglas, President; David R. Mead, VicePresident; Robert H. Wat.son, Cashier: Wilson Eyer, Assistant
Cashier. Succedes The Merchants" Bank of Glendive.
8,056— The HoUis National Bank, Holhs, Oklahoma. Capital, $25,000.
W. S. Cro.ss, President; J. M. Tice, Vice-President; E. L. Gard-

—

ier.

Cashier.
Malvern National Bank, Malvern, Iowa. Capital. $50,000.
—Thener,
C. B. Christy, President; James Durbin, Vice-President; Fred
Durhin, Cashier. Succeeds Strahan & Christy, Bankers.
National Bank of Greenwood, New York. Capital,
8,058 — The
$25,000. Arthur P. W^oodward, President; James M. Cneesman, Vice-President; Minor Shaw, Cashier.
Adams, Minnesota. Capital, $25,000.
8,059 — The First National Bank
G. Schmidt, President: Sophronia Dean, Vice-President;

8,057

of

J.

Wm. W.

W. H. Dean, Assistant Cashier.
Capital,
First National Bank of Remington, Indiana.
Robt. Parker, President; H. R. Church, Vice$25,000.
President and Cashier.
8,061—The First National Bank of Holhs, Oklahoma. Capital ,$30,000.
R. A. Wilhams, President: W. C. Pendergraft, Vice-President;
W. B. Groves, Ca.shier; G. T. Hollis, Assistant Cashier. Conversion of The Farmers and Merchants Bank of Hollis.
8,062—The First National Bank of Gering, Nebraska. Capital, $50,000.
Martin Gering, President; Peter McFarlane, Vice-President;
H. M. Thornton, Cashier; Ed. J. Whipple, Assistant Casliier.
Conversion of The Bank of Gering.
8,063 The First National Bank of Artesia, California. Capital, $25,000.
Herman W. HoHman, President; C. B. Scott and George W.
Felts, Vice-Pre.sidonts: George R. Frampton, Cashier.
8,064 The First National Rank of Wenatchee, Washington. Capital,
W. T. Clark, President; Conrad Rose, Vice-PresiS50.000.
dent; Geo. R. Fisher, Cashier.
8,065 The First National Bank of Azusa, California. Capital, $25,000.
W. R. Powell, President; P. C. Daniels, Vice-President;
W. S. Bridges, Cashier; H. S. Johnson, Assistant Cashier.
8,066 The Planters National Bank of Rosebud, Texas. Capital,
$50,000. J. T. Davis, President; J. A. Tarver, Vice-President: E. L. Tavlor, Cashier.
8,067 The First National Bank of Hartselle, Alabama. Capital,
$25,000. John S. Mitchell. President; W. A. Barclift, VicePresident; A. E. Jackson, Cashier.
8,068 The Merchants National Bank of Galveston, Texas. Capital,
Moritz O. Kopperl, President; J. R. Cheek, Vice8100,000.
President: N. O. Laure. Cashier.
First
National
Bank of Oceanside, CaUfornia. Capital
8,069 The
President; W. V. Nichols, Vice825,000.
J. X. W'oods,
Pre.sident; Geo. A. Lane, Cashier; E. S. Payne, Assistant
Cashier.
8,070 The Seawall National Bank of Galveston, Texas. Capital,
8100,000. Burt H. Collins, President; F. M. Hamilton, VicePresident; B. H. Walker, Cashier.
The Farmers' and Merchants' National Bank of Alvord, Texas.
8,071
Capital, $30,000.
T. B. Yarbrough, President; Terrell Collins,
Vice-President; W. J. Leach, Second Vice-President; A. Y.
Leslie, Cashier.
8,072 The First National Bank of Ranger, Texas. Capital, $25,000.
Wm. Bohning, President; G. H. Bohning, Vice-President;
W. S. Michael, Cashier; F. W. Melvin, Assistant Cashier.
8,073 The Citizens' National Bank of Redlands, CaUfornia. Capital,
8100,000.
A. G. Hubbard, President; E. C. SterUng, VicePresident; C. S. McWhorter, Cashier; H. R. Scott, Assistant
8,060

1905.

£

Re-exports.

—

First

1905.
Ditference.
24,989,777 -f6,785,034

colonial produce sinze Jan.

1906.

January

£

have been as follows:

since Jan. 1

Jauuary

1904.
2,345 000
315,000
705,000

DWerence.

1905.

.53,475,830

..

The exports

1905.
2,780.000
145,000
640,000

have been as follows:

£

Imports.

8,052

Conversion of The First State
dent; Paul Adams, Cashier.
Bank of Cold Spring.
Wewoka,
Indian Territory. CapiBank
of
The Farmers' National
tal, $25,000. L. C. Parmenter, President; M. F. Manville, VicePresident; A. V. Skelton, Cashier. Succeeds The Farmers' Se
Merchants' Bank of Wewoka.
The First National Bank of New Haven, Illinois. Capital, $25,000.
P. Tuley, President; John J. Trafford, Vice-President;
E. Math'is, Cashier; Fred. M. Davis, Assistant Cash-

—

Last week
2,130,000
285.000
600,000

This week

Wheat

Farmers' National Bank of Quarryville, Pennsylvania.
Daniel K. Helm, Pn-.sident; Levi F. McAlKersev Carrit-'aii, Cashier.
lister,
Vice-Pre.'-ident;
The First National Bank of West Point, Georeia. Capital,
Cpaital, $50,000.

a Nominal.

Imiwrts of wheat, cwt
Barley

TOL. LIXXIL

— The

1.

30H

nom.

Mexican dollars

[

24^
47H

67?^
.39

102J4

rfl52k
rf99

42^
110

23H
47

80

Ex-rlghts.

39^4

102H
153^
99

43K
23U

109J^
46,4
80

—The

Dean, Cashier;

—
—
—
—

—
—
—

—
—
—

—

'

Cashier.

United States National Bank of Azusa, California. Capital,
—The850,000.
A. Graves. President; E. R. Jeffrey, Vice-Presi-

8,074

dEx-dlvidend.

J.

dent; J.

H. Anderson, Cashier.

8,075— The Payette National Bank, Payette, Idaho.

©omtncxxiitt iitxtt HtXisccUaiicoits^cxus
8,076

—

NATIONAL BANKS.—The
garding national banks

is

following information refrom the Treasury Department:

NATIONAL BANKS ORGANIZED.
Certificates Issued

January 29

to

February

1

7 inclusive.

8,039

— The Scott County National Hank of Oneida, Tennes.see.

8,040

—

Capital,
$25,000.
C. Cross, President; 10. G. Foster, Vice-President:
W. C. Andc'ison, Cashier. Conversion of The Scott County
Bank of Oneida.
The Escondido National Bank, E.scondido, California. Capital

J.W.OOO.
A. W. Wohlford, Pre.sideiit;
President; L. A. Stevenson, Cashier.

K. G. Logan, ViceSucceeds The Bank

of Escondido.
First National Bank of Clinton,
$.50,000.
S. Craii,', Pre.sid./nt;
.1.

—
S,079 —
8,080—
8,081 —
8.082 —
8,083 —
8,078

—

— The

8,084

8,043

—

8.085

8,044
•
1

Fouts, Cashier.
Casey National Bank, Casey, Illinois. Capital, $25,000.
Chas. F. .Johnson, President; W. S. Emrich, Vice-President;
Doit Youne, Cashier; B. B. Stiirdevant, As.sislant Cashier.'
Succeeds Meichants' and Traders' Bank,
The First National Bank of Dwifrht, Illinois. Capital, 850,000.
Frank L. Smith, President; Curtis J. Judd and J. R. Oughton,
Vice-Presidents; John J. Doherty, Cashier.

$100,000. W. I. Beans, President; W. H. Pike, Vice-President;
R. K. Davis, Cashier.
First National Bank of Goodrich, North Dakota.
Capital,
Robt. W. Akin. President; Christ Doering, Vice825,000.
President; Herman G. Per.ske, Cashier
The First National Bank of Fort Towson, Indian Territory.
Capital, $25,000.
W. W'ilson, President; R. L. Carter,
Vice-Pr(>sident; W. F B. Leonard, Cashier.
The Farmers National Bank of Fort Ciibson, Indian Territory.
Capital, 825,000.
.President; Sid Garrett, Cashier.
The First National Bank of Salmon, Idaho
Capital, $25,000.
H. G. King, President: Timothy Dore, Cashier.
Citizens National Bank of Ness City, Kansas.
Capital, $30,000.
J. C. Hopper, President; JohnEngel, Cashier.
Citizens
National
liank
The
of Antler.s, Indian Territory. Capital, 825.000.
Jake Easton, President; S. P. Ancker, VicePresident- Tom Turk, Cashier.
The First National Bank of McConnellsburg, Pennsvlvanla.
Capital, 825,000.
Lewis H. Wible, President: M. Ray Shaflner, Vice-President; Merrill W. Nace, Cashier.
The Citizens National Bank of Hankinson, North Dakota.
Capital, 830,000.
Fredeiick B. Townsend, President; F. O.
Hunger, Vice-President and Assistant Cashier; Edward Hun-

8,077— The

8,041

South Carolina. Capital,
U. Z. Wright and S. H.
McGhoe, Vice-Presidenis: .1. P. Boll, (Cashier.
8,042— The First National Bank of Stockport, Oliio. Capital, $25,000.
J. 1). Lane, President; T. D. Clancy, Vice-President; C. H.

Capital, $50,000.

O. H. Avey, President; W'. S. Brnndage, Vice-President; A. P.
Scritchfield, Ca.shier; R. U. Spanlding, Assistant Cashier.
The Farmers' National Bank of Oskaloosa, Iowa. Capital,

—

W

Cashier.
National Bank of Compton,
—The825,000.
Harshman. President;
ger,
First

J.

J.

President; E. E. Elliott, Ca.shier.
of Compton.

I

Capital,
J. M. Shepard, ViceConversion of The Bank
California.

THE CHRONICLE.

Feb. 24 1906.
First National Banlc of Jonesboro, Arkansas.

Capital, SlOO,First \ice-FrcsiE.
Talley,
Cashier;
W.
Vice-President;
Lutterloh,
denf C
Conversion of the Citizens'
Jas. 'e. Parr, Assistant Cashier.

o 036

The

H. Watson, President; A. L. Malone,

000.

M

Wyoming.

Douglas,

087— The^Douslas NaitonalBank,

o

Capital,

$r-,0,-

Collins, President; L. J. Swan, Vice-President;
Wilkie Collins, Cashier.
Capital S2.5, 000
8.088— The First National Bank of Ault Colorado

M. R.

000.

E. T. Duffey, Vice-President;

A Johnston, President;
D. O.'Moberly, Casliier.

J

w

,

Capital,
Cheyenne, Wyoming. n
Bank of^ ^,
Hord, President; E. W. btone, Cashier;
Homer Feiirt! Assistant Cashier.
,
*
„.
r.
Capital,
o 090— The Dayton National Bank, Dayton, Washington.
F.
A.
McMaster
and
President;
Maxwell,
A.
000
$25
John Blessinger, Vice-Presidents; D. W. Davis, Cashier.
,

Citizens' National

8.089—The

SI 00 000

•

,

B.

T.

.

,

i

W

'

Capital, $40,First National Bank of Pearisburg, Virginia.
P. F. St. Clair, President; C. L. King, Vice-President
000.

The

8 091

„,.,,,

and Cashier.

,

-.

,-.

•

-r.
Capital.
of Tioga, Pennsylvania.
S P. Hakes, President; W. F. Hill and John G. McHeriry, Vice-Presidents; E. B. Dorsett, Cashier; F. L. Nearing,
Assistant Cashier.
,^. .^ ,j ,.t i
\
r^
^^.^
Capital, $25,093—
The
First National Bank of Litchfield, Nebraska.
g
000
L J Titus, President; H. L. Titus, Vice-President;
fitu.s. Cashier; G. A. Engleman, Assistant Cashier.
D
8 094 The First National Bank of Stanton, Texas. Capital, .$25,000.
A. L. Houston, President; John E. Millhollon, Vice-President;
Paul Konz, Cashier.
8 095— The First National Bank of Columbia, Alabama. Capital, $25,000.
G. H. Malone, President; J. M. Koonce, Vice-President

8.092—The Grange National Bank

,

$25 000

,

,

W

—

.

Cashier.
«
„
National Bank of Overly, North Dakota. Capital,
—Theand
George Sunberg, President; Phinelan B. Haljer, Vice000.
,^

8,096

,

.

,

.

.S25,-

First

President; Andrew R.
Assistant CfljShiGr.

Thompson,

Thompson,

Cashier; Otis C.

Capital, $25,National Bank of Bradshaw, Nebraska.
—The Geo.
W. Post, President; E. A. Wells, Vice-President;
000.
Assistant Cashier.
F. Houseman, Cashier; C. B. Palmer
New Mexico of Raton, New Mexico.
8,098 — The National Bank
Capital, $50,000. Fred. O. Roof, President; A. C. Price, VicePresident; Ernst Ruth, Cashier.
S,099 — The Abram Rutt National Bank of Casey, Iowa. Capital, $25,000.
Abram Rutt, President; Wm. Valentine, Vice-President;
First

8^097

Jr.,

J.

of

S. Lincoln Paitt, Ca.shier; Harlie E.

Smith, Assistant Cashier.

8,458

— "The

to

"The

First

APPLICATIONS TO CONVERT INTO NATIONAL BANKS

Hanson,

Litchville,

Litchville,

North Dakota, into The

The Merchants' State Bank of Fargo, North Dakota, into The MerCapital, $100,000.
chants' National Bank of Fargo.
The Letcher State Bank, Letcher, South Dakota, into "The First
National Bank of Letcher." Capital, $25,000.
The Moline State Bank, Moline, Kansas, into "The Moline National
Bank." Capital, $50,000.
The Citizens State Bank of Sumner, Iowa, into "The First National
Bank of Sumner." Capital, $50,000.
The Benton County Bank of Bentonville, Arkansas, into "The Benton
CorrespondC!ounty National Bank of Bentonville." Capital, $00,000.
ent, W. E. Adams, Bentonville^ Arkansas.

Detroit
Cleveland ..
St. Louis. -Peoria
Kansas City.

7,000
619
44,575f
23,600

Tot.wk.'Oe

304.724'
202,6001
317,609i

'05
.04

Same wk.
Same wk.

of

Company.

Railroads (Steam).
Buff. * Susq.. pref. (quar.) (No. 15)-.
Chlc. Mllw. & St. Paul, com. and pref..
Utica & Black Rivor. guar._

Mar.

1

California St.. San FranclHco (monthly)
Kan.sa.s City Ry. & Lt., pref. (quar.)..
Presidio & Ferries, San Fran, (m'thly).
Seattle Electric Co.. pref

Receipts at

1

30

Portland
Philadelphia
Baltimore

23.8(>2

Richmond
Newport News

1

2

\u
3

3

Mar.

1

to

April

3

Mar.
to
Mar. 1
to
Mar. 2
to
1.5 Mar.
2
to
1,5 Mar.
to
to
7 Feb. 25
Holders of rec.
1
1.5 Mar. 11
to
Feb. 24
to
1
•>

1.5

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Feb.
Mar.
Mar.

15
15
7

7
7
7

27
1

27

— Among other securities the following, not
Stocks.

220

H

50

Am.

I)ist.Tel.Co.ofB'k'n.35

13 B'klyn Wareh.&St .Co.l05
5 Eagle Wareh.&St.Co..lOO
2 Standard Mill. Co., pf 40
56 Citizen.s* (V-nt.Nat.Bk 144
66 Clifton Co. of Col..\
HighI'd Park Co.ofCol /$25 lot
100 Durango L'd <t Coal Co.
of Colorado
$.500
2,000 Mogul Drain. &Tr!iiis.\
Tunnel <t M'g &|
Mill. (;o. $1 each..!
50 National Salt Co ...
10 New Process M'g &
Hfd.Ci).. 8.50 each '$27 lot
I
50 Miller Colfl Mining
Co., 825 each
60 Oriental (!oId Mining
Co., $25 each
r> Ba.vonne (N.J.) Tr.Co.200
81.3 Gerniania Fire Ins. Co. .451
16 Union Ferry Co
29%
5 Home Ins. Co
516
10 OrM'n wifh Hank
296
.

.

110 Title Guar.&Tr. Co. .670-34
75 N. Y. City InterboroughRy.Co
543^
10 Kings Co. Elec. L't

&

Power Co
165
1.3 Bank of the Metropolis. 400
34 Chatham Nat. Bank... 30531
Westchester & Bronx
Mtge.&T.Guar. Co. .181
Title

Ins.

Trust Co
5 Mt.

&

296^092

282,686
222,117

1,100,459
317,367

4,307,243
642.831

of—
bbls.

M

2.55

20 Coal & Iron Nat. Bk..2703<^
10 Nat. Park Bank
.500
81.000 Standard Milling Co.
1st .5s, 1930
HOH
$2,000 Hudson County, N. J..
New Public Road 4 3^s, 1<)23.
.1. & .1
...107 J., & int.
$5,000 Hudson County. N. .1.,
New Public Road 4Hs. 1025.

*

lOS^ii

.1

5h,

.Jervis Elec. L't

Ga.s

1932

A RR.

3",960

Co.

Barley,

Rye,

btish.

241,200

bush.
1,950

1,250

159

20,849

17.967

293'.060

mill

i¥o",ooo

4,253

16,275

750
83,412

New

20,076
8,678

500.552
201,326

1,735,893
599,169

Orleans for foreign ports

February 17 com-

1 to

1,762,920

1904.
2,715,400

1903.
2,973,666

300.000

2,459,118
28,564,131
4,178,805
1,071,126
75,741

9,560.295
13,234.378
4,488,388
755,861
221,653

13,024,753
22,192,994
6,746,872
1,083,438
350,073

68,829.753

31,348,921

28,260,575

43,398,130

1905

1900.
2.189.223

12,4(i2.777
3.735.8.38

Barley

Rye
Total grain

The expo rts from the several seaboard ports for the week
ending last Saturday are shown in the annexed statement:
Flour,

Corn,

busfi.

bush.

bbls.

54,670
8,482
3,988
42,601
5.353
714
20.000
25,044
0,737
2,007
28,862

151,497
40,145
168,200
110.000
100,000

1,312,440 3.931.379 199.064
Total week
Same time 1905.. 197,247 3,915,800 82.795

660,124
78.731

Portland
.-

'.I

&

Rye,

Oats,
bush.

Wheat,

594,128
205,938
431,162
'13,844
322,000
542,472
25.200
24.000 1,265,832
17,142
257,714
517.207
687,225
8,048
10,815
296',092
25,000

Exports pom-

New York

btish.

1 is

111,858

293,000
6,120
'""750

8,500

83,412

week and

Week

1

since

-CornSince

Since

Since

July

11,155
54.363

61,553 626,397
92,276

-Wheat-

-Flour-

bush.
2,154
501

42,857

of these exports for the
as follows:
Week

Peas,

Barley,
bush.

8,696 121,539

The destination

July

1

Week

July

1

Feb. 17
1905.
Feb.M
1905.
1905.
hush.
bush.
bush.
bush.
bbU.
bbls.
since JuluX to—
United Kingdom... 105,770 4.022,058 1,101.543 24.894.060 1,997.070 32,328,832
41,924,022
11,569.4.30
1,865,504
201,084
1,410,116
51.504
Continent
31,349
285,413
158,500
8.748
488.833
9,916
So. iir\<l Cent. Amer.
31.569 1,102,103
44.980
1,065
817.118
29,472
West Indies
5,827
108,563
103,997
688
Brit. No. Am. Cols.
"4"0'9",827
34,645
201,272
714
Other countries

Exports lor week and

Total
Total 1904-05

Feb.M

...199,064 7,049..394 1,312,440 37.077.403 3,931..379 75,784,178
197,247 8,963,819 3,915,803 43,909,266
82,795 4,193,085

The visible supply of grain, comprising the stocks in
granary at the principal p oints of accumulation at lake and
seaboard ports, February 17 1906, was as follows:
Wheat,
bush
1.283.000

NewYork
Baltimore
New Orleans
G.alveston

Montreal
Toronto
Buffalo
"

afloat

Toledo

Corn,

Oats,

bu.fh.

bush.
1,604,000

1,.303

,000

251,000
147,000
383.000
252.000
385,000
164,000
33,000
2,115.000
3.520,000
477.000

Barley,
bush.

660,000

000

20,666
3"4'9",666

123,000
39,000
1,700.000
180.000
1,000,000

234,000
15.000

261,000
1.000

60,000
66,000

3"l"3".666

880,000

55.000
64,000

afloat

364,000

2"3()',666

2s',6o6

217,000

4,822,000
527,000
418,000

3,6"4'4",666

6,o"o'4".666

7"2"7",666

426. OOO

152.000
365,000

ro'6',666

Detroit...
afloat

Chicago
afloat

Milwaukee

7,000

322,000

afloat

Fort William
"

afloat

Port Arthur
-

4,352,000
183,000
1,540,000
7 ,138,000
.

.

2,i;{0,000

215.000
520,000

,532.000

1.0.30.000

4.000
270,000

82.000
176.000

Total Feb. 17 1906. .47.2.52.000
Total Feb. 10 1900.. 47, 790,000
Total Feb. 18 1905.. 37. 458.000
Tit.Tl Feb. 20 1904.-36,847.000
fc/1'oUal Feb. 21 1903.-48,954.000

15.187.000
15. 327.000
8.840.000
8.712.000
10,481,000

Minneapolis
St. Louis

14.902,000

5,278,000
803.000
5.481,000
691.000

164,000

071,000

106.000
43.000

99.000
1,334.000
6.000

19,000

1.000

2.338.000
2. 389 .000
1,770.000
1.093.000
988.000

4.009.000
4.828,000
6.073.000
4.390,000
1.868,000

afloat

Kansas City
Peoria
Indianapolis

1

2:<n.ooo
1

(inc.,

000

24.000

On Mississippi HIver
On Lakes
On Canal and River
•
•

?5

60.000
888.000
508,000
333,000

287,000
1..57 4.

2.883.000
1.005.000
729.000
42,000

Int.

&
1st

Rye,
bush.

197,000

--

afloat

Boston.

afloat

linrul.'i.

Pow.

'

40.319.729

Corn
Oats

Duluth

J.

sif.ooo

bush. 12,005,409

Wheat

'•

3 1 2-3 1 7

Vernon Trust Co

82.000 Pt.

1,475,121
42,182

Total receipts at ports from January
pare as follows for four years:

1

15 Lawyers'

102,260
69,900
169,623

Oats,

5'r3",926

99,000

Philadelphia

15 Merch. Nat. Bk.of N.Y.170H
64 Mar.<!kFiilt.Nat.Bk270-271
46 Gallatin Nat. Bank
.
.395

1,439.294
817,162
1,054,192

15

regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. MuUer & Son:
Stocks
60 Bowl. Or. Tr. Co

22,000
3,600

bills of lading.

Orleans .
Galveston
Mobile
St. Johns N.B.

to

2

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Feb.

IP.

1

2,750
88,750
62,000

bush
481,500
132.864
40,145
538,021
233,232
63,094

a Receipts do not include grain passing through

New

23 Holders of rec. Feb. 23
31 Holders of rec. Feb. 28
to
April 2
2 Mar. 21

April
April
April

Itl

Feb. IS

bush.

731,000
209,857

714
5.658
2,607
28,862

New Orleans. O.Galveston
Norfolk
Montreal
Mobile
St. John..
Total week
1905.

Corn,

bush.

257,714
748,000
209,000
17,142
7.489
10.815
25.000

l.-i

Mar.
Mar.

2
3
2!^

3,400
20.006
13,042

14

2 Mar.

Wheat,
145.000
4,268
431,102
10,094
32,327
28,616

bbls.

101,993
23,107
8,482
50.953

Boston

Holders of rec. Feb. 15
9

10 Holders of rec. Mar.

Mar.

April

$15

2,088,814
3,617,101

Inclusive.

April

Feb.
Mar.
Feb.

V4
20c.
3

2.909,9.32

Flour,

—

New York

Newport News.

week:

Books Closed.

Days

3,005,529
1,481,125
3,506,020

6,800,

325.180
10.400
316,000

19,760
1,900

Total receipts of flour and grain at the seaboard ports for
the week ending February 17 follow:

July

90c.

Consolidated Cotton Duck Corp.. pref..
Eastman Ko<lak Co.. com. (quar.)
Preferred (quar .)
_
Federal Mining A Smelt., com. (quar.)..
Common, extra
Preferred (quar .)
General Chemiral, com. (quar.)
Great Nortliem Paper (quar.)
Laclede Gas Liclit, com. (quar.)
Lord & Taylor, pref
Milwaukee & (jhlcago Breweries

Auction Sales.

When
Payable.

3H

Street Railways.

Miscellaneous Companies.
Calumet & Ilecla Mlnins
_
Columbus Gas h. &: Ileatlns, com

Per
Cent.

4,499,554
2,447,850
4,402,359

18,5.i2l

29,487
193,060

1

Baltimore
Norfolk

DIVIDENDS.

Name

6m .56 lbs.
31,000
657.347
24,000
405.900

Since Aus 1
1905-06 .. 12,054,682 170,496,851 113,704,180 145,801,397 59,416,540 6,033,086
1904-05 -. 10,444,851 156, 871, 052 110,063,724 101,202,799 51,134.045 5,358,126
1903-04 -. 12.232, 1371170, 160,867 107,184,651 102,836,143 49,798,452 5,500,023

Philadelphia ..

ri

131,310
175,000
104,510
54,713
879,265
293,700
459,000

1,325.413
149.800
29,657
238,130
52,200
47,000
49,629
515.700
436,400
101,600

1,793.5401
33,000i

Minneapolis.
Toledo

Boston

this

2,125,600
276,450

66,8801

270,588

Duluth

Flour

North Dakota.

The following dividends have been announced

Rye.

Barley.

Oats.

First

Correspondent, A. P.

Capital, $25,000.

Corn.

129,000

201,055
27.875

Chicago
Milwaukee.

Receipts

APPROVED.

The Security State Bank of
National Bank of Litchville.

Wheat.

Flozir

bbls.l9Glbs ibush.eO lbs. bush. 50 lbs. bush. Z2 lbs. bush.iSlbs.

on through

6,604— "The Hereford National Bank," Hereford, Texas,
National Bank of Hereford."

'

—

Receipts at

Oregon, to "The

First National Bank of Eugene City,"
First National Bank of Eugene."

P-

—

Bread Stuffs Figures Brought from Page 467. The state
meuts below are prepared by us from figures collected by
The receipts at Western
the New York Produce Exchange.
lake and river ports for the week ending last Saturday and
since Aug. 1, for each of the last three years, have been:

Week

CHANGE OF TITLE OF NATIONAL BANKS.

431

•

20,2.'3.0n0
20..tJ7.oon

17.001.000
9 246.000
6.974,000

.

.

-

—

1
4

.

.

I

THE CHRONICLE.

432

[Vol. lxxxu.

—

Statement of New York City Clearing House Banks.
New York City, Boston and Philadelphia Banks. Below is
The fallowing statement .shows tiie condition of the New a summary of the; weekly return.'; of llie Clearing House banks
York City Clearing House banks for the week ending of New York City, lioston and IMiiladelphia. The New York
figures do not include results for non-member banks.

February

should be distinctly understood that as
and surplus the figures are the
averages of the daily results, not the totals at the end
of the week.
In other words, in reporting loans and deposits and holdings of specie and legal tenders, the practice
is to take the aggregate of the amounts for the several
days of the week and divide this aggregate by the number
of days.
17.

It

We omit ttco ciphers

to all items except capital

(00) in all these figures.

Capital

and

Bankt.

I

'

Ixmnt.

New York
.Ian.

Feb.

DepotUt.m' Cireu-

Legals.

Specie.

Clearings.

$$:$'$
\

'

Surplus.

I

$

$

$

1

latum.

27.-257 ,273.2 1041,113,3 193,006,4 84,601,6 1047,112,6 52,267,4 2,494,544,5
3.. 1257 .273,2 1057,365, r 192,492,1 83,986,3 1061,403,1 51,978,9 2,613,001.2

Feb 10.. 261 ,433,8 1001,997.2190.894,5 80,286,8 1060,950,9 51,449,8 2,084,910.5

Feb. 17..J261 ,4.33,8 1052.380.61188.509.9 79,438,3 1048,633,1 50,970,2 1,930.836,2
Boston.
Feb 3.. 41 ,656,0 184,771,0 16,538,0 5,923,0 212.663.0 7.195,0 169,333,0
Feb. 10.. 41 ,056,0 184,570,0, 15,587,0 5,786.0 212,273.0i 7.216.0
163.061.4
Fob. 17.. 41 ,056,0 185,309,0 15.326,0 5,859.0' 215,968.0 7,225.0
180.649.8
I

i

We omit Uoo etphert
Banks.

Capital.

(00) in all case*.

Loans.

Specie.

$
16.902.0
24.043.0
12,502,8
19,227.0
22.873.1
6.695.0
162.664.0
25.484,2
5.408.4
8.618.7
2.524,1
5,777,0
4,974,3
28,347,2
140,107,6
21.829.9
3.382.2
5,832.0
2.215,2
13.942.4
48.090,0
7.210.0
19,823,4
3,400,0
7,314,5
5,782.3
31.683.0
9.044,1
24,334,0
72,166.0
1,313,9
19,100,0
10,442.0
89,137,5
8,898,4
3,097,0
4,662,3
4,236,0
45,503,5
10,383,5
2,913,1
2,910,1
14,618,1
7,704,5
2,908,2
9,721,2
4,033,0
17,836,0
4,427,0
10,546,1
5,971.5
5.566.3
4.194.0

$
2,687,0
5,105,0
3,012,8
3,434,0
4,579,3
1,065,0
32,983,3
6,710,7
782,3
1,142,9
494,9
818,0
852,3
3,412,1
20,351,2
3,123,1
359,1
643,6
123,5
1,598,9
7,641,9
1,324,9
3,890,9
196,4
1,042,0
1„35G,1
5,787,0
1,602,0
3,438.0
13,111.0
245,4
2,910,0
973,0
17,070,5
1,682,3
443,0
1,166,0
658,7
11,557,6
2,424,9
170,0
491,2
1,601,8
1,613,1
575,4
1,254,3
696,0
4.806,0
542,4
1,717,9
1,280,2
1,074,4
886,0

Surplus.

Phlla.

Legals.

Deposits, a

00s omiued.

Bank

N. Y..
Manhattan Co.
of

Merchants'
Mechanics'

America
PhenLx
City
Chemical
Merchants' Ex.
Gallatin

Butch. &Drov.
Mech.&Traders'
Greenwich
American Exch.

Commerce
Mercantile
Pacific

.-

Chatham
Peoples'

North America.
Hanover
Irvine

Cent..

Citizens'

Nassau
Market <t Fult.
Shoe & Leather
Corn Exchange.
Oriental
Imp. & Traders'

Park
East River
Fourth
Second
Fh^t
N. Y. Nat. Ex.

Bowery

N. Y. County.

German-Amer

.

Chase

Avenue.
German Exch..
Germania
Filth

Lincoln
Garfield
Fifth

Metropolis
West Side

Seaboard
1st Nat.. Bklyn
Liberty
N. Y. Prod. Ex

New Amster
Astor
Total

S
2,000,0
2,050.0
2,000.0
3.000,0
1,500,0
1,000.0
25.000.0
300.0

$
2,729,2
2,576,3
1,413,1
3,415,5
3,855,3
286.6
18.771,7
7.806.5

f.00,0

,396,7

1.000,0

2,284,9
142,5
359,0
561,6
4,502,5
12.540,2
4,386,7
651,9
1,053,4
437,2
1,931,2
7,287,8
1,095.5
678.6
325.9
1,383,8
487,5
3,358,6

300,0
700,0
,500,0

5,000.0
25,000.0
3,000.0
422.7
450.0
200.0
2.000,0
3,000.0
1,000.0
2.550,0
500,0
1,000,0
1,000,0
2,000,0
750.0
1,500,0
3,000,0
250,0
3,000,0
300,0
10.000,0
1,000,0
250,0
200,0
750,0
1.000,0
100,0
200,0
200,0
300,0
1,000.0
250,0
1,000,0
200,0
1,000.0
300.0
1,000,0
1,000.0
500,0
350,0

1,1.30,3

6,755,1
7,459,1
118,1
2,928.5
1.591,8
17,351,0

912,4
774,1
824.4
561,1
5,284,9
1,749,6
754,4
898,1
1,492,4
1,291,1
425.8
1,615,9
749,8
1,057,6
6.38,9

2,122,0
496,4
607,5
651,1

"%

S
1,479,0
2,238,0
1,2.35,0

1.788,0
2,160,1

241,0
7,558.4
1.696,8
586,1
672,1
76,1

740,0
459,9
1,425,8
9,931.4
1,555,8
362,9
871,2
541,1
1,368,9
6,505,1
518,7
1,034,0
587,1
686,2
366,8
3,798,0
387,4
1,254,0
7,743,0
135.1
2,675.4
1,692.0
2,.335,8

468,7
246,0
582,8
192,6
1,478,7
563,0
865,0
758,9
1,817,0
282,5
198,3
839,2
395,0
1,628,0
511,6
592,8
427,6
633,4
351,0

liese've

27.0
15,416
28,000 ,0 26.2
15,868 ,7 26.7
19,092 ,0 27.3
25,159 ,1'26.7
5,714 ,0 22.8
151,777 ,7;26.7
26,367, ,2:31.8
5,636 ,4 24.2
6,601 ,4,25.9
2.651, ,0 21.5
24.8
6,275
5,325 ,3 24.6
20,344 ,9 23.7
119,871, 8 25.2
18,509 ,7. 25.2
3,928 ,8 18.4
5,8.38, ,0 25.9

2,650

'25.0

12,7.30 7 23.3

55,483, .5 25.5
26.5
6,923,
19,973, ,0 24.6

3,796 ,6120.6
6,974, ,5,24.7
7,172, 2124.0
38,388, 25.0
9,149, ,7i21.7
20,862, ,0122.4
82,733, 0l25.2
1,546, ,3i24.5
21,4.33 ,8 26.0

11,134 Oi23.9
75,898 ,0125.5
8,557, .7125.1
3,485 ,0 19.7

Feb. 3..
Feb. 10..
Feb. 17..

,530,0
,530,0
,530,0

215,343,0

60,4.32,0

217,350,0'
218,062,0:

58,590,0
58,569,0

I

a Including for Boston and Philadelphia the Item "due to other banks" and
Government deposlt-s. For Boston these Government deposits amounted on
February 17 to $1,401,000; on February 10 to $1,399,000.

—

Imports and Exports for the Week. The following'are
the imports at New York for the week ending for dry goods
Feb. 15 and for the week ending for general merchandise
Feb. 16; also totals since beginning first week in January.

NEW YORK.

FOREIGN IMPORTS AT
For week.

$3,331,565
10,534,194

General merchandise.
Total
Since January

1905.

1906.

Dry goods

General merchandise.
Total 7 weeks-

$17,743,633)

$24,562,985
72,102,180

$22,785,549! $19,268,474 $22,285,954
79,628,105
59,349,812'
59,644,507

$96,665,165 $102,-413,654

week ending Feb. 12 and from January 1 to date:
EXPORTS FROM NEW YORK FOR THE WTEEK.
1905.

1906.

Previously reported

Total 7 weeks

$89,562,720

$69,166,787

Invest-

Specie.

Imports.

Exports.

Gold.

Week.
Great Britain
France

Week.

Since Jan.l

Since Jan.l

.

"$23".375

$2",900

220.000
2.755.000
10.000

8,684
2,994

$45,291
63,162
151,518
24.89&

$1,954,500
964,300
16.700

$3,008,376
28,262.165
1.044.297

$15,689
69,641
22,895

S274.860
477.326
4.015.684

$1,043,972
278.000

$8,943,617
442,000

1,762

"a'ssi

'"»l".947
2.891

9,838
107,674
211,054
10,564

$1,506
203.000
1.750.000

..

.

1,011

Deposit with

Net

and

Clear-

Other

Bank

ing
Agent.

Banks,
&c.

Notes.

$74,847,484

The following table shows the exports and imports of
specie at the port of New York for the week ending Feb. 17
and since Jan. 1 1906, and for the corresponding periods in
1905 and 1904:

South America

Tender

ments.

$71,880,877

EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.

two telphers (00) in all cases

plus.

$11,238,951
63,608,533

piled by the Custom House, we shall
to or deducting from the amount "previously reported,"

All other countries

Capital.

1903.

'

$8,749,152
63,131.725

Custom House
totals, also comfrom time to time adjust the totals by adding

Note.

West Indies

00s omitted.

1904.

$12,211,576' $11,070,558
58,096,229
77,351,144|

results.

Legal

$78,618,286, $81,930,461

The imports of dry goods for one week later will be foimd
in our report of the dry goods trade.
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the

—

Loans
and

$8,396,399: $10,946,071

$13,865,759

—As the figures of exports as reported by the New York
from week to week frequently show divergence from the monthly

22,197 ,0j29.0
22.8
4,609
26.4
8,734
6,910
24.7
25.
6,701
29.4
4.207

$2,661,630
8,284,441

1

Dry goods

3,051
10,448
4,348

Reports of Non-Member Banks. The following is the
statement of condition of the non-member banks for the
week ending February 17 1906, based on average of daily

Sur-

1903,

$2,596,1431
5,800,256

For the week

116,472,7 144.961.1 1052,380,6 188,509,9 79.438,3:1048,633,1 25.5

Banks.

1904.

$3,292,784:
14,450,8491

5,979 .7 29.2
4,098 .9 20.7
51,244 ,6 25.4
11,696 ,7 25.5
4,281 ,7 24.
5,553 ,9 22.5
15,421 ,2'22.1
7,872
24.0
25.3
20.0
25.0

160,103,2
138,187,6
134,722.8

also

a Total United States deposits included, $8,509,100.

We omit

247,118,0 14.257,0
247,570,0 14,272,0
250,453,0 14,272,0

I

Deposits.

Total 1906
Total 1905..
Total 1904

-.

.

Silver.

N. V.City.
Boroughs o/

Man.&Br'x.
Wash. H'g'ts
Century . .
Chelsea Ex..
Colonial

Great Britain
France
S
100,0
200,0
100,0
100,0
300,0

S
154,2
133,1
74,5
316,8

Columbia
.392,2
Consol. Nat. 1,000.0 1,064,9
Fidelity
14th Street..

Hamilton
Jetferson

Mt. Morris
Mutual ..
19th Ward
Plaza ..
Riverside
State.
12th Ward'

23d Ward
Union E.xcli.
United Nat

200,0
138,4
500,0
96,0
200,0
129,4
400,0
408,7
250,0
144,0
200.0
269,0
200,0
216,4
100,0
274,7
100,0
102,6
100.0 1,085,2
200,0
151,7
100,0
126,4
750,0
619,5
1,000
182,2
100.0
,320,7
300,0
250,0

Yorkvllle
Coal &I.Nat
Metropolitan 1,000.0
34th St. Nat
200,0
Batt. Pk.Nat
200,0

Borough

.304,2

203,2
107,1

$
793,9
1.009,0
611,3
3,774,6
6,227,0
4,592,0
1,002,3
4,660,0
4,482,4
3,445,0
2,793,3
3,807,9
3,133,9
3,951,0
1,596,0
11,002,0
2,365,0
1,661,9
7,041,6
2,348,6
3,100,6
3,211,0
4,262,4
1,173,6
065,5

$
13,8
28,5
32,6
55,8
320,0
569,4

$
44.5
55,8
25,7
315,9

280,0

175,6
223,0
9,6
153,9
29,2

68,4
57,0
327,3
182,5
188,7
118,2
297,9

23,1

265,1

257,0
24,8
714,0
41,0

224,0

18,4

57,1
29,1

225,7
51,4
024,2
278,8
241,8
133,1

156,7

342,0
256,0
174,3
483,8
82,5
307,0
96,0
62,4
36,6
7,0

$
94,1
.38,1

24,9
133,6
180,1

31,6
388,4
711,0
468,7
88,5
281,9

" 63",6

1.35,5

210,0

250,4
274,1
123,3
646,4
304,0

1.38.3

3,7

118,0

57.0
57,5

126,8
101,1
569,0 1,029,0
173,0,
35,0
154, 8l
119,0
203,0
410,0
84,0
' 92',2
185,0
548,9
54,0
314,9
679,5
107,6
144,6

16,1

$
686,3
937,7
763,5
4,402,9
7,008,0
3,386,2
1,012,2
5,295,7
4,932,5
3,630,6
3,339,4
3,825,7
3,798,3
4,424,0
1,842,5
13,427,0
2,864.0
2,068,7
6,770,9
1,348,4
3,573,8

..

.

Germany

$10

West Indies

..

6.887
All other countries

Total 1906
Total 1905
Total 1904

$11,725
5.133

$9,391,848
4.656.394
6.419.242

$1,323,734
537.151
743.536

1,017

Auction Sales.

— See

preceding page.

3,5.84,4

4,310,8
1,158,9
561,8

^imhiui^ and Fiuuuclal.

of

BoroUKh

200,0
150.0
300.0
252.0

120,4
371,0
173,5
648,8
861,4
821,9
593,6
196,5
316,0
211.6

2,289,0
2,578,6
1,909,9
4,558,2
9,865,3

4,.531,1

Third Nat...

400.0 1,12,3,0
250.0
677,6
250,0
131,4
200,0
314,7

Hoboken.
Nat...
Second Nat.

110,0
125.0

Broadway
Brooklyn .
Mfrs.' Nat..
Mechanics'
Nassau
Nat. City .
North Side
People's ..

Union

1,000,0

300,0
300,0
100,0
200,0
300,0

49,8
20,0
144,7

25,9
63,9
174.0

175,3
222,6
72,5
123,8
530,9
428,0
318,0
104,4
134,9
348,0

757,0
413,0
47,7
136,4
639.0

178.5
87.6
58.0
49.6

290,1
71,2
17,4
69,2

2.129,7
201,3
201,1
428.4

5.33,0

2,595,0
905,7
1.814,3

71,7
16,2
25,3

6,048,0
2,212,5
1,002,4
2.180.3

2.421.7
1.307.2

130,3
46,3

28,5
67,6

192,9
72,7

85.3
96,0

2,277,4
1,527,0

5,53.S,0;

3,435,0
1,749,1
2.2I6.2I

7,545.0

417,5
293,1

213,0
135,0

171,9
176,3
285,7
691,1
904,1

103,4 2,551,2
88,5 2,7.38,9
48,7 2,151,3
198,0 4,972,8
166,3 11.325,4
5,658,0
89,0 3,859,0
166,9
1,846,8
136,7 2,365,0
692,0 8,734,0

Spencer Trask

&

Co,,

InTestinent Bankers.

Wo

transact a general bankiuji: liiisiiiess; sell and piirchaBe investsociirities; i.ssuo circulars describinir short-term ami long-term
high-irrado bonds; execute commission orders upon the New York
Stock Excliange and in the flmuicial markets ol the leading citieo.
We also have special representatives in all of the principal cities.

ment

Jersey City.

Nat..

Hud. Co. Nat
Second Nat

First

101,797
162,264

were
Of the above imports for the week in 1906,
American silver coin. Of the
American gold coin and
exports during the same time 1,954,500 were American
gold coin and
were American silver coin.

Brooklyn.

First

$339,140

563,8
177,4

Tot. Feb. 17. 12337,0 14.573,7 1,38631,1' 6 408,1 7,448,3 13,990.8 6.064.7 1.50410.8
Tot. Feb. 10. 12337,0 14,573,7 1,38944,3' 6,207.3 7.183,5 12,814,9! 6,320.5; 14911 4,6
Tot. Feb. 3. 12137,0 14406,3,137254.7, 5,978.3 6,782,9 12.185,9, 6,919,61 14701'j,3

Branch Office, Albany, N.Y.

William and Piue

Moffat
nieinbcrH New
6 NASSAU STKEIST,

&

York

St)»..

Npw York.

White,
!^tock Exclianite.

HANOVER BANK

BUILDING.

i>calcrM in Investment Secttrittes.
coni.nissioN orders exe*:ited for ca^ii only.

Feb. 24 1906

THE CHRONICLE.

1

(J^uzttU.

s

Uaitlijers'
For Dividends

see

page 431.

Wall

Street,

Friday Night, Feb. 23 1906.

433

Transactions in railway and industrial bonds have been on
a limited scale and in many cases there has been a fractional
Of the exceptional features Mexican Cendecline in prices.
tral con. 4s are conspicuous for an advance of 3 points.
Wabash debentures are almost 3 points higher and Colorado
Industrial series B are up a point.

—

—

United States Bonds. Sales of Government bonds at the
The Money Market and Financial Situation. Money market conditions are again the dominant force in the security Board include $1,000 2s coup. 1930 at 103^. $15,000 3s
markets. Saturday's bank statement "was less unfavorable coup. 1908-18 at 102^^ to 103 1^, $25,000 49 coup. 1925 at
than had been looked for, and on Monday stocks were gen- 130M and $5,000 4s reg. 1925 at 129 7^. The following
erally firmer. On Tuesday there was a sudden and unexpected are the daily closing ciuotations; for yearly ranga se« third

advance in call-loan rates to 8%, and, although few loans page following.
were actually made at the rate mentioned, the event had a
Interest
Feb
Feb
Feb
Ftb
Feb
depressing influence on prices and also upon such enthusiasm
Periods
1?
19
22
21
Stock
Exchange.
the
Since
Tuesof
floor
the
on
exi-ted
as
*103i4 *103
Jan
registered
•IO314
'IO314
1930
steadier
and
th;>
stock
market
has
market
is
day the money
Jan 10314 *103 *103'4 10358
coupon
1930
substantially recovered.
Feb 102 'a '102 •10234 10234
1908. 1918. .registered
coTiponlQ—
Feb *102'9 •102
103
Wi\
1908 •1918
Railway traffic returns and other evidences of industrial
~
Feb *l02i4 *102 •102^ ao2'4
small. conp Q19081918,
activity continue to show that the latter is almost phenomenal
'103
*
•103*4
10314 *io;i
registeredHi- Jan
1907
•IO3I4 '10:-!»..
coupon Q- Jan *103l4 •103
1907
and late advices in regard to winter wheat indicate a more
registered
Feb *129i4 •129 •1291, 129'^,
1926
favorable condition of that crop than was recently reported.
•129i<.. ']29>u
coupon Q- Feb '129'^ 130
1925
On the other hand, a broader view of the general situation
* This is the price bid at the morning board
no sale was made.
1.,

Feb
23
*103i4
*103i«
•10234
•10234
•10214

lOSJ*
•10314
129^8

'129 ><i

;

somewhat less hopeful prospect as to the result of
the conference at Algeciras, and a state of affairs on the
Russian-Chinese border which suggests that peace in the
Far East may not be of so permanent a character as has been
reveals a

hoped.

The open market rates for call loans on the Stock Exchange during the week on stock and bond collaterals have
ranged from 2 to 8%. To-day's rates on call were 4@4^%.
Prime commercial paper quoted at 5@534 for endorsements
and b@5}i% for best single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £1,907,627 and the percentage of reserve to liabilities was 44.67, against 45.92 last
week. "The discount rate remains unchanged at 4%. The
Bank of France shows an increase of 14,325,000 francs in gold
and 3,975,000 francs in silver.
The New York City Clearing-House banks in their statement of February 17 showed a decrease in the reserve held of
$3,233,100 and a surplus over the required reserve of $5,789,925, against $5,943,575 the previous week.
DiffereTices

1906.

from

Feb. 17.

previous week

$
116,472.700
144,961.100
Loans and diacounta.-- 1.052,380,600
50,976,200
Circulation
al048 633,100
188.509.900
Specie
79.438.300

25%

Dec.
Dec.
Dec.
Dec.
Dec.

267.948.200 Dec.
262,158.275 Dec.

of deposits

5.789.925 Dec.

Surplus reserve

1904.

Feb. 20.

S
S
115.572.700
115,972,700
I.-^S.IRO.IOO
135,951,400
994,438,800
9,616,600 1.136,012,100
42.S.';2.100
473,600
40,551,600
12,317,800 1,192,555.900 1,028,025,600
2,384,600
220,953,800
213,606,700
86.389.600
848.500
70,906,300
S

Capital

Reserve held

1905.
Feb. 18.

3.233.100
3,079,450

307.343.400
298,138,975

153,650

9.204,425

erratic feature of the inAmeridustrial hst, its fluctuations covering 163^ points.
can Woolen has been relatively strong. Tennessee Coal &
Iron advanced 43^ points and subsequently declined.
United States Steel common is fractionally higher, the preferred closing without net change.
For daily volume of business see page 441.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:

27,506,600

10.
—RetiuTis
of separate banks appear on the preceding page.

—

Foreign Exchange. The market was irregular and generweek, closing steady.
To-day's (Friday's) nominal rates for sterling exchange
were 4 83J^@4 84 for sixty day and 4 87 @4 87}^ for sight.
To-day's (Friday's) actual rates for sterling exchange were
4 8275@4 8285 for long, 4 8625@4 8635 for short and
4 8685@4 87 for cables.
Commercial on banks, 4 8250@

Alice Mining

.

8260,
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 18^a@5 18% for long and 5 16J^a@5 16J^d for
short.
Germany banker's marks were 94 7-16@94>^ for
long and 94 15-16@94 15-16 for short.
Amsterdam bankers'
guilders were 40A.-@40 l-16rf for .short.
Exchange at Paris on London to-day 25f. 153^c.; week's
range 25f. 163^c. high and 25f. 15c. low.
The week's range for exchange rates follows:

— -Long® 4 83
Low
4 8275
©4 8285
Paris Bankers' Francs —
Stcrling Actual
HIith
4 8290

HlCh.

@
®

5 185ia

Low

5 185ia

5 18?i
5 18M

Oermany Bankers' Marks
94 7-16
94J^

Hli,'h

Low

94H

(!5

@

—

-SlWTl14 8630
14 8615
I5
\b

I

94 7-16

Amslerdam Bankers' Guilders

—

1

P'B'i

Leas:
Plus:

ft

1-16 of

4 8640

4 8625

-Cables
I

1

—

4 8685

4 87

4 8665

4 8675

5 UVsd
5 leVaa

94 15-16d(f& 94 15-161
94 15-16(/|
94J^

@

I

40&

al-16ofl%.

(3)

@
16j^a
®
WAh ®

40A;

Low

dl-32ofl%.
1%. X 1-32 of 1%.

40 l-16a"l
40 l-16rf
ft3-.32ori'p.
y 3-32 of 1%.
(3)

@

The following

.shows the rates for domestic exchange on
at the undermentioned cities to-day: Savannah
50c. per .$1,000 discount; selling 75c. par $1,000

New York
buying

premium. Charleston 12i^c. per $1,000 premium. Now
Orleans bank 25c. per $1,000 discount; coinmorcial 50c.
per

$1,000 di.scount. Chicago 5c. per $1,000 discount.
Louis 30c. per $1,000 premium.
San Francisco 90c.
per $1,000 premium.
St.

State and Railroad Bonds.— Sales of State bonds at the
Board are limited to $114,000 Virginia 6s deferred trust
receipts at 24 >| to

Highest
$4 Feb 17
28 Feb 17
5i8Feb21
20=8Febl7
91 Feb21

1

for payment 4 81^@4 83)^.
CotSecurities 111 Cent'l
815€@4 81 J^. Cotton for acceptance BR
stock trust certificates
Vulcan Detlnnlng
and grain for payment 4 83i^@4 83H-

and documents

toeek

350
l.ODO! 26 Feb20
A-mer Beet Sugar
Amer Malting Tr Oo ctfs 100 SisFeb?!
700 26 Feb 21
Pr Tr Co ctfs
Amer Telegraph & Cable 900 90 Feb 19
Aseo Merchants, Ist pref 200 108i2Pebl7 lOSi-iFebl?
iflFeb21
VFeb21
Atch Top cfe S Fe rights. 15,200!
Corn Prod Tr Co ctfs.... 1,450 1734*'eb20 18 Feb 23
100 57 Feb 19 57 Feb 19
Pref TrCoctts
2 '8 Feb 21
a Feb 21
Del & Hudson rijrhts
8,385
Dea Moines & Ft Dodge. 100 20 Feb20 20 Feb 20
Detroit South Tr Co ctfs.
100: 10'-jFeb23 10 Si Feb 23
General Chemical, pref..
300 106 Feb21 100 Feb 21
lOO; 33 Feb21 33 Feb 21
Internat Steam Pump...
Preferred
100 82 Feb 19 82 Feb 19
Iron Silver Mining
1,400 $5 '20 Feb 19 f65-20Feb21
Manhattan Beach
200 10 Fob 21 10 Feb 21
80 Feb 23
16: SO Feb2:^
N Y Dock, prof
N Y <fe N J Telephone.
191 155i4Febl9 155>4Febl9

ton for payment 4

8250@4

Range Jar

25%.

Preferred

Range

stnoe Jan 1

Week
Lowest

ally lower this

4

Sales
for

STOCKS
Week Ihiding Feb 23

$3LaFeb21

on February

4 8260,

Monday.
Anaconda Mining has been the

284,513.000
257,006.400

a $8,509,100 United States deposits included, against .$8,573,100 last week and
$20,696,500 the corresponding week of 1905. With these United States deposits
eliminated, the surplus reserve would be $7,917,200 on February 17 and $8,086,850
Note.

—

Railroad and Miscellaneous Stocks. There has been little
in stock market conditions since our last report.
The volume of business has slightly increased, averaging
about 1,100,000 shares per day, and, with few exceptions,
The temporary advance in call-loan
prices are again lower.
rates noted above caused a rather sharp decline in stocks,
from which there has been only a partial rally. The range
covered by the active list has been relatively narrow, however, except in a few cases.
The anthracite shares continued weak. Central of New
Jersey adding 10 points to the decline previously noted.
Reading sold down to within a fraction of the lowest price of
the year on Monday, but subsequently recovered nearly
Great Northern and
6 points and closes near the highest.
Northern Pacific have covered a range of between 10 and 11
points and North Western is over 7 points lower than on

change

lOoi
1,900'
1,510,

—

97

Feb 19

10>i2Febl9
62 Feb23

Lowest

Highest

$2 laJan
28 Jan

$R
35

Feb
25 Jan
90 Jan
5

Jan
Feb
Feb

igFeb

iflFeb

1734 Feb

19i4Jan

Feb 5 Is Feb
Feb
2'eFeb
20 Feb
10 Jan 11 Jan
105 14 Jan lOGHjFeb
29 Jan STi^Peb
79 Jan 8534 Feb
57

•<

2

S5-00Jan $5-20Feb
10 Feb 1534 Jan
7 8 Wan 83 Jan
154iaJan 155 M Feb

Feb 10
Febl7

95i<jPeb
9 Jan

60 Jan

1'2

29
93

lOlJOsJan 109

6334 Feb 17

97

Jan
Jan

6 Is Jan

98

Jan

15 14 Jan
64^8 Feb

Outside Market. ^With the exception of a tendency to
firmness to-day, general depression has prevailed in the
market for unlisted securities this week. The mining issues
have been the principal factors in the market. United
Copper common opened fractionally higher from last Friday's
close at 71 but sank to 67.
After considerable irregularity it
reached 745^ to-day, closing at 73 J^. The preferred maintained its recent advance, selling around 110.
Greene Consolidated Copper was a strong feature.
It moved irregularly
from 263^ to 273^, ending the week at 27. Touopah Extension was higher, advancing from lOJ^ to 113^, and closing
to-day at 11.
Boston Consolidated Copper, after a drop
from 21% to 26 J^, jumped to 283^, the last sale to-day being
at 21 y^.
Utah Consolidated Copper fell from 34 to 32, recovering to 33.
Houston Oil i.ssues have been strong, the
Then it
preferred making steady gains from 473^ to 523^.
eased off to 503^, but to-day ran up to 55.
The common advanced from 12 to 13^, but closes to-day at 12^^. Mackay
Companies common also displayed strength, and after a
drop of \]/i points to 58% advanced to 60}.'^. American
Writing Paper preferred, after a loss of a point from Friday's
close to 313^, recovered to 333^, but dropped to-day to 30 3^^.
Lord & Taylor stocks have been comparatively active, the
common rising from 115>i to 117. The preferred sold between 1033^ to 103312- The traction issues were dull and
weak. Interborough Rapid Transit from 2303^ dropped t>
227, closing to-day at 228.
Interborough-Mctropolitan
common fluctuated between 53 and b'.^Y^.
Out.side quotations will be found on page 441.
,

'

5

.

New York

Exchange— Stock

Stock

«K;t;iii'vi>«

M
tSmf\tvHflit
lira fit]
atif

\
[

Itb 17

'

T'a.^oW^..
4 XC.IU'Uf/

l./n*1^rt..

Itb 19

2u

J eh

reb

STOCKS

>«i.

-J I

Weekly and

STOCK

SaLes
the

EXCHANGE

-A

Y^early

I'A<;KS

NEW YOKK

U/ ..J.....i«..

.

,.

rlecord, Daily,

TWO

.

AND LOW hSI BALK fHJL&H

8TOCKfi—HlQHkaJ

{'

3

..

01

JiUHf/e tor irar lWo»
Uanve 'or J^evtout
'mbaKitoi loij-stiarelou
iearCUUSj

Week
SUares

Loweit

HtUfUMt

l^wett

Higti^et

ICnili-untln.

8P
103

103

•103

16'i

l(>t>

KiO
110

8OI4

flO

10:i'^110i4

*9l

81

*81

80
G'.l

•220

22.;

'

e6>4
soHi

0(>\

;n

•76

79
21'«

fil

,

•86

H7

,•78

783j
•A'h

364

,

110.%

97

178 'e 181
•186 189
230 2 SO
•

,

.

SO"-,

'

*Vis"l\):^"
16
18
/ S6
3C
11
111*
^
ibo'i

{

ioo''4

•116
82 >a
/ 72
60 V,
'207

118
33',

72V

61Hj

209

460 400
48 la 44^8
/ 88
88'-/
<

99

•9834
'.•17Ja

19

87

3>^

43»8
<77'd 78
71
••75
80
/•85
95
'825 332
_:42>„

/ 7034

{*86
^•76

35

M5

77'i2 «•<
'.
..116
'*94*'; "94"'':
95
95
172>2 17234 173 173'4
,•31
32
31 12 32
,•68
60
58^4
58
56
•53
55
83I4 83'6
84
84
3034 313<|
31^4
81
60 >i em;
62
61
'3714 3714
87I4 3714
'•88
^2
•88
93
/••
J
•72
78
76
74

63

'

'

94^8
17134 173

54

8314

54

53

8334
31^4

31V

'5314
3034

§334

OOia 62
•35

•88

'7S"

'^'7"

46 "s 14734

188'!b139's

89

.'

'

39

1383,i

ISyn^

40

•3T

•

"81

•75
•100
112
flOO 107 134»gl37«| 13434 136T8 136
•94 "8 95 1 94
•94
94
-•»9'il00'5 98 100
100
24 '6 25 Uj
<2638 26
2538
6434 61'j
61
64=1
64»8
'
22
22
"»i"

''.'.'.'.'.'.

'

i-j

'>i

/.

'•66'

'70*"

/ 45 »4
>177 IHs
4,0

a43» 24

I4I

"f

i

66

50^4

/

efg

o.j'f

fll7>2ll7'.J
/'

87 Hi
99

<»97
/

83-'r

..*.....

.

65

65

165

188

45I4
ii.'-'i

56
65

>a

-,

45'4
2.>
56'-.

65 ^g

66
37
66 '4

188

'**

56'e

67

'f

6534

66*5

11734 1173^

9'l>i

100
34 >4

•97 100
33 V 34 «6

•'.17

'.i

'4

34

n
K
Kl

100

HL

175'.jl75'..<

34V

34
• 68
99

69
100 14
150
S^

-141)

89 Jan 2 96 V Jan
102'2Kehi() 106 Jan

16,t;75 1(<1»V

pri-.f
.. '^''L'
Biodklyii Kai.i<rrran8it.. 155,455
Bullalo .fc .sii.->(|ii<_., pret...

40.50'

9/
78'.,

81
16'
68

117
Feb 19 99
Ieljl7 91
Jan Ij 87
l-"i)

'

!

'-.i

77«8M»> 93V Mar
99 Jau n'> V i^ep
Jan 170 Apr

13'

3

1

4 16/VJ.TM'."'

Ji.n

Jan J7,
J an 5

120
!

vJan2
|-.b

>

1.0 la J

an 117

Mai 100

91

56V Mb>

9

Hi

HI

Dec

1
'..,

Aug
Aug
Not

S.May

Jau 19 1 :;<)'4 Jan 177V>^ep
70 «.Ian X •7 No^ 74 '4 Aug
•215 220 Genrral of New .Jersey...
212 KeblO 231 .Jan -.'2 190 yi»\ 235 Oct
56 '4 5 6 '4 Chesapeake A Ohio
26,425 54V Jan 5 6 '4 .)au 45l2Mu^ 60 V Mar
•30
9uu 30 Jan 4 38 '4 Jan 15 30 Dec 44 -a Mar
31
ChicaKo<i! Alton
74 '2 Jan 10 80', Jan 12 75 Oct
•75
79
8334 Apr
Do prol
21 '4 CliicaKo Great Western..
8,501
20 Feb 2
20
23 V Jan ." 1712 Mu> 25 "6 Mar
85 V 86
85 V Jan z-^ 86 .Jan 17 83 '4 >I«\ 89 Sep
Do 4 p. c. (lebeutiireh
•78
"ibV- 75 Jan 10 80 Jan 31
79 Hi
00 J'ne 78 la Sep
Do 5 |(. c. pref. "A"..
1,200 34'.,, Jan 4 39 V an - 2 29
37
3736
Ma; 37 la Apr
Do 4 p. c. prel. "H"..
179 180 Chicago MUw. <fe St. Paul 97,950 178 '4 I'elj21 19.( Jan
108'* Mil- 1 87 ^i Apr
•188 iyO'4
190 Jan 5 196 Jan 2
Do pref
\^->h Jan 192 "a Apr
228 230>, OliicttKo & North Westen 10^65 •220 Jan 4 240 Jan 15 ul'JOJSJ u> 249 Jan
.M) 250
•250 260
Jan 15 257 Jau 19 j34 Jan 265 "a Feb
Do pref
•185 190 Gliic. St, P. Minn. & Oin.
OOOU-Oia Feljl5 198 Jan 15 ;.10 Jan 225 Jaa
20" IHO KelilO 202 Jan 15 195 Jai. 230 Jan
•185 192
D» pref
•20
3,300 12 Feb 1^3 I8 4.)anl9
12
13
734 JtO)
J'ne
Chioa«« Tenn'l Transfer.
2,6;;0 28
42 -4 Jan -.
30
Feb.
28
17'aJan 42iaJ'ly
Do pref
13
6 J'lK
ISV^fcb
13V ChioaKO union Traction. 6,i,7oo 10 Jan 10 1334 Feu 20
5.41)0 39
40
46
Jau 10 46 8 Keb2i 303, J'ly 54 Feb
Do pref
•100 100 't Cleve. Cin. Clue. & St. L.
1.20t 100 '4 Feb 17 109V Jan 15 90 Jan 111
Mar
'116 118
117 lelj J 118 Jan 23 II514 J'ly 121^ Mar
Do pret
9','2o6
29 la Jan 4 37 Jan \:4 22 U Jau 30 V Apr
33
33V Coloraiio <fe Southern
1,800 68 Jau 5 73
7214 72'..
Feb 9 52 Mav 69 V Dee
Do 1st preferred
52I4 52'..
7,000 5')'^ Feb 17 56 '4 Jan 12 32>^Ma) 55 De«
Do 2d preferred
a;206
207 12 Pvelaware<fe Hudson
3,100 x206 Feb 23 229 Jan 18 178'2.Ma> 24^3^ Oct
•455 475
100 j:459 Jau 3 4l4'4 eVlj
» 'elaw. Lack. <fc Wesl'n.
335 Jau 198 "a Oct
23.100 38 Jan 4 51V Jan 26 2714 May 393, Deo
44'4 45
Denver & Rio Grande
500 87 Jan 4 91-.iJan2- 83 '4 May OlVDoe
88
88
Do pret
9jO a;93'4 Janll 102 Feb 9 76 Jau 96 'a Deo
100 '4 10014 Detroit V nited
20U I8ia Febi6 ''!2VJaull 1134 May 2-z->4 Not
•18
19
DiUuth 80. Snore & Atl..
•38
700 37 Febl. 45 Jan 11 21 May 4534 Not
393,
Do prel
83,400 42'2Febl'- ^0 '8 Jan 16 37 "a May 52-4 Aug
43 « 4334 LTie
3,U60
7/36 Feb l9 83 Jan i5 74 V May 85 v. Aug
78'.^
78
CjDo 1st pret
69 12 69*^
9,550 68 V Feb 2 J 76V .Ian 16 55 "a Jan 78V Aug
Do 2d ^ref
•75
75 Jan 8 76 Jan 2 63 J'ly 75 Aug
80 Evansv. <fe Terre Haute..
85 90
88 Feb 6 >i-i Feb 6 85 Nov 96 Aug
Do pret
283
Jan 5 348 Feb 9 236 Jan 335 Apr
327 8301s Great Northern, pret
56i606
92', Jan 2-/ 92 "2 Jan 22
83 Feb 90 Jan
Green Bay&W.,det). ctf.A
""11
Do
19V Jan 4 23 Si Jan 19 17 May 24V:J'no
rieh. ctf. B
35" "37" TIavana
400 a3'»Janl9 40 Feb
15
Apr 38 la Deo
Electric
7714 Jania 84 "a Jan 30 50 J'ne 82 Deo
80 84 LlDo pref
110 116 Hocking Valley
113 Is Feb ^ 119 Jan 3 80 V Jan 121 la Deo
i',286 94
95
95
Feb 1 ,9o'6jan 5 90 Jan 97 , Not
Do pref
2,452 17434 Feb 21 182 Jan 12 15234 Jau 183 Sep
I Umols Central
1721a 175
800 29V Jau 2 34 '4 Jan 12 24 May 32 Feb
32
*3l
iowa Central
59I4 5934
900 58 Feb 19 b3 '4 Jan 13 50 May 61 Deo
Do pret
53 55 IZanawhaife Michigan..
100 54 Feb 16 58 Jan 3 29 'a May 5334 Deo
83 14 IVc.Ft.S.<feM.,tr. cts. pfd
1,100 82 Jan 29 84 -a Feb 7 81V J'ne 87 Oct
83
2.200 30 Jan 3. 3'Vjan 5 22'«.May 36 '4 Deo
•301a 3214 Kansas City Southern ...
l,30i' 60
Jan 29 ;1 Jau 5 52 Jan 70 Feb
eca eoi^
Do pief
600 31 Feb2d 44 6 Jau 12 2a'4 J'ne 47 'a Deo
34 "4 35
J ake Erie <fe Western...
92 Feb 3 iii-'-2Ja,n i5 91 J'ne 106 Mar
-88
92
L<Do pref
---Ij. Shore <fe ilich. South'n
J2'J0 Jan 4350 Mar
72" "i^" Ijong
200 67 V Jan 4 ,81-4 Jan 16 501a May 73 V ^'oT
Island
146
14634 I4714 Ijonisville <& Nashville... 17,450
Feb 21 lo6'2janl9 1134 '2 Jan 157 V Sen
159 1.^.9
2,358 15S'.jFebl7 lf;2 Jan 26' 161 May 175 Fel)
Vlanhattan Elevated...
iU. etrop. Secur., sub. ree.
69
6,100 69 JauiO '^-i Jan 15 68 V Nov 91 Mar
69
11,00.. liev Feb 2a 127
II6VII7I4 Metropolitan Street
Jan 16' 114 May 133 -Vug
24 '4 25
20,450 23 V Febl 7 ,2bVjanl9| lSi4May 26 Mar
.Mexican Central
10 a 42 Feb 23 147 Jan 29 n30 J'm 155 Aug
5142 142
Alicliigan Central
76
Minneapolis & St. Louis.
1,000 (5 l''ebi7 ,84-4 Jan 11 56 'a Jan 84'. Oct
76
9.
96 100
1)0 pref
Feb 7 l"0^4Jau 3; 86 Jan 106 Oct
"600 141i.jJan 4 lt'3 Jan 10 89'.., Jan 145 Deo
*152 155
Minn. S. P. & S. S. Marie.
401' 173
Jau 2 '8334 Jau 11 148 Jau 173 Deo
176 1V6
Do pref
11,000 33 '4 Feb 17 40 •» Jau 12! 24 Ma\ 39 "a Not
34V 3434 Mo. Kansas tfe Texas
'4 6 Jau 18: 56 '4 May 73
1.500 68 ^^ Feb
Do pret
6S34 6S34
Aug
98
27,051993gl00 Missouri Pacmc
I'ebl". 1"0'4 Jan--0' 94 la May llOVMar
30u 142 Feb 20 149 Jau i-j 137 Jan 158 Apr
145 145
XT ash. Cliatt. & St. Louis
4,10f 37 '4 Feb 10 4934 Jau 19; 33 V May 45 Jan
3915 •40'^ i ' at.of Mex, non-cum.pl
20 ".^ J an 11 "1. '0 Jau 24| 1734 J'ne 244 Jan
•20 V 21V
Do 2d pret
14834
14734
feb 1 1^*5 -4 Jan 8' 13634 May I6734 Mar
N. Y. Central & Hudson.. 5,-;.2U0 147
2.30(1 63
Feb 21 '•^•-Jan2.. 42 Jau 76 >« Deo
63 '4 b3 '2 N. Y. Chic. & St. Louis...
119
112 118
Do Istpref
Jan 15 120;, Jau 27 114 J'ly 1221a Jan
80 86
Do 2d pref
"io". xti2
Feb 1 '•^.ti^jiiu 9 74 Ma> 95 Deo
197
Jan 2 204 '8 Jan 19 iVJl-'^ Deo }216 Sep
N. Y. N. Haven <& Hartf
1,145
"504 "5 ov N. Y. Ontario <fe Western, 17,400 5018 Keb2i °7-4jan2.| 40 V Jan 64 Mar
Norfolk & Western
11.200 85 ,)au 5 J -J Feb 1; 76 .May 80 'a Mar
8634 87
yt', Jan
92 Feb
•90
91
Do adjustment pref.
6,
91V Fob 06 Aug
22II4 22334 Northern Pacific
159^77
199 Jan 5 2;2'^Febl4' 165 Apr ,Jl6iaAng
OaciHc Coast Co
300 103 Jau 10 •123 Jan vol 78 '4 Jan 109 '4 Oct
112 112
t Do Istpref
105 Jau 5 196 Jan 29 loo Jau 108 Feb
•101
107
105 '2 Jan 10 122 '4 Jau 20 85 Jan 109 Oct:
112 119
Do 2d pret
>*.
138
loiiobo
V Feb 17 47-.zjan2i 1311a ilny 148 Aug
138V 139 Pennsylvania
•38
42 Peoria ifc Eastern
20e 3 J Feb 17 40-ijanl5 27 Jan 4834 Apr
Pore Marquette...........
77 Jan 106 Feb
""10
§55 Febio ^55 Feb'iw 78 V J'ly 87 la Feb
Do pref
•75'ii"8l"" Pittsb. Oin. Chic.' ifc St. 'l'
100 81 Feb 17 87 Jan 24 70 .Ma> S734 .Mar
106 Jan 22 l"8'-jJan24 105 Feb 112 Mar
•100 107
Dd pref
137 "213914 IJeading
7361800 134 '4 Jan 3i' <:}<<i Jau 23 .i;79 Jau 14334 Not
92 93 l-Vlstpref
100 92 Jau 2 9j Jan2i' 90 Ma) 97 Sep
•99 100
2d pref
700 96-.; Jau 2 10 2 Jau.O 84 Jau 101 Nor
2539 2534 Rock Island Company
30,800 23 V J an 3 28 's Feb 6 2134 Dec 377gjan
64 'a 65
Do pref
3,100 61 J an 4 OiV Feb 6 60 la Nov 85 Jan
loo 22 Feb 17 2' Jau 12 12 J'ne 25 Deo
Ct. Joseph (fcGr'dlsland.
1^ Do Istpref
10(1 62 ', Jan 2 0-'
Jau 12| 4 6 la .May 65 Deo
li'
Do 2d pret
100 35 Jan 1
Jau 12 20 J'ue 35 Deo
."!."" "m" St. L.<fcS.Fr., Istpref
•-01)
05 Feb 19 '- v leb ull 67 Dec .81 14 Mar
J 1*4 Feb 6l 45
4534 .tO.Xj
Do 2d pref
900 45 Febl
Dec 73 la Mar
•168 185
C.&E.I.com stock tr ctis
190 Jan 3 190 Jan 3 175 Jan 194<a J'n*
24 '8 25 St. Louis Southwestern..
0.300 20'., Jan 2 27 V Jan 19l 20 Max 27 la Jan
55-4 57
Do pref
3,500 53 Jan 5 «1 Jan 15; 55 Nov 66V.A^Pf
50,8-20 64*8 Febl,
OS's 66 3„ Southern P.acltio Co
'2VJan2.'l 5734 .May 72V I'eb
Do pret
735 11 -2 J an 3 118VJanl0 11534 Jau 12214 Deo
117V 117 V
3734 38'* Southernv.tr. cfs. stiupeo 102.4l)C 3u3^jan 2 4 ^'h Jan 261 28 May 38
Sep
99 '4 99 '4
do
Do pret.
3,135 99
Feb 17 l03 Jan 16 95 Aiir 102 la Set
97 100
M. & 0. stock 1 r. ctf 8 .
99 lo Feb 3 99 14 Feb 3] 97 Anr 100 "a An*
rexas <fe P:ici1ic
9.000 3234 Jau 4 39V Jan 24' 2934 Apr! 41
:.dU 34
Mar
/

'aiiadian

l^acinc

2011
1,301)

^ 'aiiaila .Souilifcrn

Jaii2'.' 17734
i..ri.

;;

"..i

I

'.J

•-•,

•37
22
-20
14739 I49I4
65
63
111 120
•81
85
201 201
50 ?B 50 15
873|
87
•90
92
22036 225
•115 120
•103 108
•115 119
'-J

,

>

•'

iiz

-2

13858 1393S
•37
43

I

-

i-j

*

'..i

>..

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1

•64" "68"
•4514

39 'f
100>4

100
>9

2.'.

"tj

>

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•168
'41

38

yf'

• Li6

4534I

4534

9J

00

"88

'

24V 26

11734 11734
37^4 38'4
9934
W9

383,

i2!

81
•yf'ai"
107 "-i •100 107 "-2
140"..,
136 V 14038
•92
95
94
100
•a9>alOD'-2
2538 25 la
'-^a'ri
64 V
64 Si 647^

ai
65 1»

•168

CO

"55'"

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1

'•J

611a

l*"'-^

1387e 140«4
•37
43

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86

.

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2.45" 157

.;

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^73''^

i.^

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03,800

..;

38
92

146 x47'2
159 159
6914,70
11634 117
2118 25
-146 148

76
100
155

,

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,1

•60

35

33
92

ToiiekaASanta Fe

Ho

".J

5
3

69
65

59

5914

5.S34

14Ti2l48''a
ISSiulSSv n58 1^160
69 ^2 70-'?
69 ^
69
117 1173,, 11734 lis '4
24 1« 24^8
2334 241^
1

^^'^

tell.

UH\ •>l)o

j;170'8l71
•68
69

83

•79'4

'-i

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*8l

"37"

"3634

116
"93'a 95
173'8l74
32
32*4

«140 148
148
75 >3 7534
75 14 75'-,,
•96 100
*95 100
,•162
150i4l52>s
•151 158
•173 177
17434 174^4
174 174
3334 34'.,
34
34
347b
345a
'tj^
ii<^\
;68>Q 69 "^
08 "^ 68
/ 98'a 99341 99i4l0l>H- 100 '4 101 '4
:«142
148
142 142
•37'2 39
"37'i"39" •37 H, 38'.;
2lTj 19
(•19
*l95g '^\7^
21
147 149»ii 147 14 14934, 14S'..il4d>..
•64
65
65 \
68
66
65
/
'114 120
120
I,*114
<114 120
/ "Sa
85
85
6'i^ 83 lu •82
,200 200
a93ij200--o 200 Sj 201
50-'8 b\^
60^4 61
60»8 Slij
;
87
87
83 '4
87
87 >« 8734'
•90
; ^90
92
91
•90
92
22234
224'4
225
218
2283t
f219
•115 119 •lis 119 -114 118
•103 108 *10» 108 •102 108
•115 119 •115 119
«1U 118

75
•96

/

-96

79-8

37 'e
83

•7934

*

^^

Atlantic Cou.st 1,1116 BU..
llOialll'4 Oaltiinorc.b Ohio

98

08

91
103

15. "4 1593,

lO'.i'ellO't!

'2634'

'203J

a8»8 24'..
l*110 148
*1.!0

f

a03

1

35

377t

83

'146'8l48
,168^2 15912
69 »4 70
.11634 118 Is

89V

,

no

'2634' 20 J4

(:::::

90
t89
102 "i 103
160 160

82 4
•.81
•fJ 1
HC
86
^6
•SI
171»4 172^ 172>iil733, 171V 173
t;9
•OS
69
68 "fl 68 ig
•OK
>213 220
217 217
212 216
h'-,^ 67>4
63 "a se"!!
r5'4 f'?
30
30
31
31
30
*:;o
•75
75 79
79
*76
70
20 Hi 2II4
2034 2114
20^4 21 '4
"85
86
86
86^ •85
•K5
7915
79 "a 79 >5 •78
«78
79
37 -J 37 >,
36 "a 37^8
ao'e '^'J'f
170 181 '4 178'4l80
178 '•2 180
•185 189
• 1 85
•185 »9»
1 90
23ll»e233ir 22734 230
2:;0'4 230
25.">
•253 2«7
257
'250'4 25(i3.i
•184 188
85 189
\^1 189
188 193 •18-i 19i
190 190
14
15
14'4 14'«
16
Mo '^
•30
35
34'i 38
36 "2
12 '4 133,
131a
13
114 13'4
46 '4 46't
42*2 46
45>i! 4 63^
MoOHllOl
lUO'-jlOO'a
100 ".J 101
*116 120
'116 118
118
32 'e 34 1«.
'AiH
33
33'a
33
73i>
•72 '2 73
7208
»72'2 723*
62>.4
51
5134 52%
Gl^i
51
211 214 208 211
2l»8'*215
•450 460'.. -452 460
•445 451
45l«
4510 4636
46'4
44
44V!
•88 "u 90
88
»87'2 89
88
•0!)
lOl-a
101
101
98^4 99"18^4 I834 *18
19
ISHi 18 "i/
38'^ 38>3
•36
88\ 3834 39
434 4456 4-34 44
42"4 43^
78 '4
78
7778 '7 '6
77»i 77V
68 '8 »«6
70
71
70
703t.
•75
75
80
80
*75
80
85 95 *89 95 '^^ J^
83714
331
332
326
328 834
7,S^

17034 17 ITp

68

.

101)

;i7

in)

IHH

89", 90 »s
Hl2'.2l03
16i"-il61
111)
1103<
•97
99
80»a S2\

flOif

103^

2439
5734
64^8

1

4534

187
25
5734
65^8

117V 117V
37 V 38 V
99
•97

34»fl

3334

(

99^6

TOO
34 >«

.

1

BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks

Bid

Aslc\

linnks
Chemical

JiUl

AsIC:

205
825

4200' 4300
Uitizeus'Ctrl
144
City
2 70
80
Coal
Iron. t27()i.i
Colonial \\
600
Columbia'
100

Vattery Parh 135
Mowery^l
32.>

145

Commerce

.Batch's i& Di

l7l)

181)'

185

lOliase

175
700

C'rnExchgcl UT..\fi82^

j^athani

t;i05'4

ULetna

205

ULmerlcali ... 520
jiuner Exch.. 260

750

.Oonturyll....

t

&

.

|1'.ai..j

Cousolidale,(^
Discouni'ii

.

East River
Fidolityl,
Fiftli Avoli...

German

1..0
1

Ualhitin
Garlield

Too"

800

212'.,, 217''

..

I3J6

.

H95 German .\m1|

I

50
200

Fourth

Kxl]

Gennaniall

.,

Greenwich

II

llaniiltonli

-.

Hanover
Inn) <b Trad

i'o'.r'

175"

410
I

2. '6

210
1

Irvinjr
Jeltersonli...

'a

245

195
Liberty
500
Lincoln
1500
ManhattJinV. 310
Markel&Ful 1270
275
Mechanics'
Mech & Tral 170
Mercantile .. 2>;2'a
.Merch Exch. 170
.

,'iOO

5

Bid

Unnkt*

InterboroT].. 162

120

-Mercliants'.. tiro

'.J

Ask
175
255

200
520
1750
325
t:271U

285

Itanks
Bid
MetropoU'nl 180
.Ntt.Alorris^..

MunialV

215
300

Nassauli
200
New Ainster 450

New York Co
N YNat Ex.
New York...

Ask

People' all...

490

Wardi:. 400
North .\mer. 300
Northern
160
Oriental v.... 260
P.acitic"
2 40

180

Plazali

^75
170

185

320

270

34th Street.
12th VT-anlU

>10

lOtli

270
175

PUenii
Prod Exchll

^«*^

tsoo
300 326

180
Riversidel) . 250
280
Seaboard &
7)350
Second
700
Sliooifc Leth
180 190^
Stat«1i
fl700 -20001

1200
205
315

Bid

UaiikN
Park

.

195
25

3800 4 '200
575
Metropolis",
400
23d -Wardll.
50
250
Bid and asked prices; no Bale* were iiiiulo on thus day. « Less than lOo shares, t Ex-ns^lita. 1| Stat« banks, a Ex-dividend and rights. *Kew stock.
Sale at Stock Exchau ge or at nvctiom this week.
iXrust Co. certificates.
A Assessment paid, u Sold at private sale at this price.

iOhel.seaEx<-.1
*

180

215

Bia

Jlanka

Fifth
J 340
First
785I'14tbstreot1|. 200

.

t

^3

Stock Record— Concluded— Page 2

Feb. 24 1906.

8T0C£S—H10H EST AND LOWEST SALE PRICES
Saturday
Feb 17
134Jiil34i<j

•33
36

S5
36

5484

64^8

11638llG'%

Feb 19
13214 133^
*34
35
Still 36 V
56'
55

116

116

253

2218 22^5
•6II2 63
11018 112

28
•95

29\(

100
42^4 43 "e

•101i2l02'-i

36

•230

35 12

240

9
9
*8>4
9
•3638 37
44 Hj 4.i\
•2258 2334

22I2
*eii2

227,

109 12
29

111=^
29

'•95

100

427fi

62'..

1-.

4:5 <.

100 la 101514
35
33
240

230
9
*8l4

9

363b
4434

38 14
45>2

23 14

23^4

9'»

*45^ 49

•45

48
7OI4 72
116 lie
5
6
•23
27

7012

36 "2 36^4
5i;i4
Mi
116i2ll6'2
161

«s

34I2
3634

34I..,

3434

•;43.

37

37
55

37

5534

12

15314

731,

a;148-'4

9434
8934

9478

y:.

881-4

8934

89

233,

851.2
2234
4538

2234

9434

46k

46
*3S

37

38 k
19 20
46 1<
46
*25i2 27
283^
28

•1934
•45

25

249
2278 23
617,

22=t,

61

61k!

100

427,

101

9

•9

45

49

72-'^

116

116

*116

*5

6

»5

9

94k!
9k:

8I4

8k

381a

38ki
4534

24'2

•23

46

7438

-^5

240

454

4614
23I4

433.

1013,

34 4

'234

40

19

2218

240

9
'8ka
3814
447s
23I4

•37

109 kail 1''8
•2734 30

95

7134

49
73

k2

116kall6^

117

'5

6k2

5'2

—

80
45'a

93
•124
......

"i,

1521-2

8U
46 Si
93
130
87

•25" 31

60 Is 61

49 Wj 5014
108 4 109 '4
79-'4

40 'g
106
47
»114
46
•235
93
101

79»s

4l7e

107

ig

471..

115 iv
46
245
181
185

•180

82
108

I3

8434

125

152

156k;

80

80

13
81

81k.

46

463<

13

9214

123

9234

133

•25"'27""
61
49
108

61
49 7f
108
7934 ao

4034

41-1.J

105 ki 106 '4
47
47»6,
114k»115'.
45

ki

47'-2

230 248
93 14 9:i36
160 170
IHO

1"5

84
108
155
80
*12k»
481
47
921,
122
"85
27

83 ka 84
108 125
152 154
73
79k!

85 ki
125

1<

156ki

80
13 14
81

121a 13
•80

82
43
923a 93
130
123
86
86
*25ia 31 k!
46I4

48k)

92 4
130
87
27
6478 64 7e

6178 62
49 ki 50
109 109 k
80 ka 801.
42 '»
41
1064 107 14
43 '8 49
114 115
48
48
233 248

60
51
109 4 109 k<
81
81
4134

42>4

106"8l07k
47kj

115
48
233

4834

115
4'I34

250

9318 933e
161 ka 172
175 185

931,

160
IKO

14

2278
4534

46
38
20
47

247

92
5240

23I4

9338

170
185

1

&

ka

pref

Wabash

4S4
193.

Do

27
27
67

Do Istprel
Do 2d pref

>

Highest

Lowest

Slgfiest

85 14
20 '4
40 4
3J

Jan
Jan
Jan 3
Jan
900 17 7k Jan 9
700 414 Jan 2
600 25 Feb 17
2,400 27
beb21
90« 55 '4 Feb 19
G,20U

'-i

Wisconsin Central

for Previout
Year (1905)

1

9,701,
30^)

prof.

Western Maryland
Wheeling* Lake Erie..

47

Range

1,600 130 ^„ Fob 2:-: Kl39i^ Jan 17 120 Dec 141 Deo
300 3214 .Ian
36 Jan 22 224 Jan 374 Apr
M5 .Jan
1 .301
34 4 May 4334 Apr
40 4 Jan
1,80<; 5434 Feb 17 5979 Jan 19
65
Apr:
513^ Jan
90U U6 Feb 6 1224 Jan 22 105 Jan 1224 Apr
J'ne
?15334 May 160
607,fJ41 148" Jan 3 1604 Jan 24 113
Jan 15134 Deo
Feb 2.: 994 Jan 2 95 4 Nov 101% Feb
1,020 2:9(314
~2,200
Jan 2 98 Jan 18 214 Jan 92 4 Deo
4,480 87
Ian
93 4 Jan 17 644Jan 94 4 Deo

1 oledo Railwaysifeliiglit
Tol. St. L.
W. T. tr. ctfs
Do pref. vot. tr. ctts.

233,

for Year 190fi
of 100-share lots

Share.i

'phird Avenne (N. Y.)

5 1 14 I rnion Pacific
96I4 ^' Do prer
94 7f, U nitRysInv't of SanFran
Do pre?
89 k
Uuiterl Rys of St Lou. prel

39

'45
*26
27
•55

57

247

11078 11234
29 12 29 k
*95 10(1
43k; 443^,
101 k2 102 k
3II4 ^1^4

89

87

27
2838

27
•55

5612 5612

61 79

14

a;96i4

Mange
On basis

Week

Twin City Rapid Transit

ISO-^ 15214
98

'^4

86
125

561.

116^

116

*26
27
26
26k2 26
27
ajga^g 100^2
161i4l64»e 13238 I6334 162 ka 16378 15934 163
123 124
1231212134 124 12434 124 124
•220 226 *200 220
200 220 *200 235
•100 110 *100 110
100 110
105 110
III2 12>4
1218 I2I4
12^
12
11»R 12
471* 471,
47 1« 471,
4814
4734 4734
47 ka
140 1411.^ 13934 141 v. 140»8 14134 13934 141 '^
•138 140 •138 140 '139 140
*138 140
•I4II4I42
14034 14034 140 140
141 141
104»4 105
104 14 104 iv 10418 104 k! 10334 104
413^
44
46
4518 46k3
44
4434 45 ki
•108 109
10734 10734 109
109
108 109
270,1a 276\4 272 2871, 282
288 k2 277 ka 285
•170 180 •170 195 *168 175
*168 175
•I6I4 18
*15l4 18
*l6i4 18
•1514 18
•54
68
*54
'54
5612
68
*54
56'a
411a 43*8
41 12 42 w
42 14 42^4
42«8 433s
104»4 104^4 105 -s 105 If 105 14 105 "4 IO5I4IO5I2
64^4
60
6118 64
63 Ss 66 ka
62k» 65^
•92 102
*92 110
?96kj 96k2 •97 110
203,
20
19"^ 201.?
20 ks 2134
19^8 2li8
1761a 17334 I76i«i76i2 176kjl77'^ 17678 176
•1734 18
181,
18
1734
18
18
n7s
661a 56I3 •56
57 14
*66ia 67
57
67
63
65
55 H
54
54
631a 541,
63
*
84
'
84
81
81
•183 190
190 190
13934 I8934 180 183
106 106
105 106
106 107 7e 10534 106
170 171
1703* 171
17034
1711a I7214 170
22
22
2134 221,
22 kz
22
2134 22843<
b4
84^ 8434 84 1* 84=4 84
84%
80
60
62
65
•60
75
66
65
64!,63<>B 64 >4
64
6318 64I8
63
63
6734 6«l4
67 14 68 W
68°8
68 14 68
684
•116 1151s 115 118 '116 117 116 120
•16
16 li *16
16>.,
16 16k2 16 16"4
•87
90
•87
90
*88
•88
90
90
85 12
83
83 4 85
81 14 8434
84 ki 86 14
• 10412 105
104^8 105 14 105 IO5I4 1051410512
16738 169
168 1587^ 158 1597p I59I4 159'e
99\ lOO'g 100 IOOS4 10034 101 ka 100 14 101
46»8 47
46-'4
46
46ki 46=8
4538 4ti^^
98
983,
98I4 99
9818 99
97 k> 9834
•1434 IG
•1434 16
•1434 16
14'4 16
•66 Si 67
•65
60
57
57
*54
60
68I4 60
ssij 5912
5934
59 ka 603t.
58
10014 luov 10038 101
101 101
100
k
100
ka
•238 243
238 243
243 *238 243
238
57I2
*66ia
5534 57 ig
57 ka 57 k<
54^4 57 ka
104 la 105
1041a 105
103kil06
104 105
32
32 '(
31«8 323t
32ka 33
siki 3214
105 106
105 IO6I4 105kal05\ 104 ka 105 k!

152

130-'.8l:r!l

Sales 01
the

STOCK

EXCHANGE

Feb 23

Feb 32

55

•lOimuiia lOliglOli^ MOmlOlk)

84
•108

FYidaii

131l8l31l8

98
95

?977g

5249

248

§248

13112 132
3408 34*9

Thursday

Do

I50I4I5
14934 152
•9738 98121
97% 97 3e
95
^5h 95 14 9G
89
91
89
90
'8512 ^7'•85111 87
22
22\ 22 14 22-'
44I9 46
457,
45
38>2 881^
38
38
195,
19H lyi^ 19
4ii^ 44V.
4 5 Hi 451^
2bi8 *55i8 ''5
2812
28
2779 28 >«
57
65 14 66
66
•247

Wednesday
Feb 21

Tuesday
Feb 30

Mondau

STOCKS

NEW YORK

435

.

Do pref
Imlusti-ial «fc tYIiscell
4 dams Express
•^ lU.s-Chalmers

87 4 Jan 13
264 Jan 24

80

48% Jan 24

37
27

Jan 2 9
2134 Feb 6j
42

484 Feb

6

29 4 Feb 6
33 Jan 17

Jan 15

64

15

36
20
20
45

85 Nov
May 244 Sep
J'ly

17 4

48
30

Jan

644 Oct

1934 Mar,

48

Febi

284 Mar
334.'i.ug

Union

Bid

Exclil 210

United

105
USExcha'el 125
Wa8h.H'lit8l 1^25
WestSide^l.. «300
yorkvilleli

..

Ask,

215

252

131 247
7,700 22

1

i

;

'

.

a.

i

I

i-

'

-

1

""

.

"

!

!

I

i

i

i

2;:.

I

'.J

!

-

Ask

Trust Cos.

Bid

Ask

Trust

BROOKLTN

Fifth

Home

Banki; 150
130" Mauufactrs'. 365
Mechanicsll 280
.

Nassau
Nat City
North Sidell

AOO

BBOOKL.YN

BoroughH
150
Broadwayli.. 410
Brooklynll
135
Jlrat
395

Bid

Uanlcs

430
145

430
310
390
People'sll
270
ProspectPkli 140
Uidgewoodll. 140
Terminal
130
Unionll
220

300

no
227

-

,

N. T. CITT
Bankers' Tr.
Bowl'gGreoii
Broad way lY.
Central Tr'st
Colon lal

Law T I &Tr

170

t.';i2

Lincoln Tr... 605
Manhattan .. 475
Mercantilo ..

2210 2250
403 412
260

Columbia
Cominonw'lh
Empire
310
Equitable Tr 490

Bid

Guaranty Tr
Guardian Tr 226
Knick 'rb'k'r 1200

540
1 220
165

(Jo's

Ave Tr

.Metropolitan filO

MorlouTrusi 840

96

Mutual

135

Ask
580
610
235
f.ii734

625
500
900
625

Trust Co's

Bid

Ask

Trust Co's

N Y Life&Tr

1000
725
325
420
t670
750
1400
500
1370
350
426
265

1075

BBOOKiTN

NewYork Tr
Real Est Tr't
StandardTr't

TiUoGuifcTr
Tr Co of Am
Union Trust

UBMtg&Tr
Unit States

.

•^60

Van N'denTr

140

Washington.
Windsor

Brooklyn Tr 418
170
Fl.itbiisli
200
TfiTOU Franklin
370
1765 1 Hamilton
345
190
1425 g Honie
--

-

Citizens'

410

H Jt'ukius

1390
365
450

Kings Co

L

Isl

Ask
190
380'

185

450

L&Tr. 310

soo"
325

Na.ssau
t275
People's
1350
Willlamsb'K. '230 h2iU

516
Mut.Alliance 236
KarraLo<fcTr 1425 1475
"lay"°
""8
1-088
tfcan
100 shares.
tKxrights.
«
H»'ii^*l?S«t'y'"2®^'
6 New stock.
Kx-dlndendandrighta.
BWO
at Stook Exchange ox at auction this week.
Ex stock diridend. « Trust Co. certificates. 1] Banks
marked with a paragraph
1

Bid

^'^ ^'^'^^

T

I

Feb 2 j5?49 Feb 20 J236 Janfcj250 Feb^
Jan " 27% Jan 24 13 May 244 Deo
227,
60<> 604 Feb
60 ka 60 ka
67 Jan 24f 464 May 68 Feb,
Do pref
544,400 10379 Jan
1104111 AmalgamatedCopper
1184 FBbl3 70 Jan 111-4 Deo
•2334 30
1,500 24 4 Jan
34 4 -Tan 2
20 Jan 29 4 Apr!
Amer Agncult Cnemioal.
•95 109
934Jan
102 Jan j5 89 4 Feb 95 Aug
Do pref
4234 43'V American Car c& Foandrj- 23',io6 39 4 Jan
47 4 J an 24 31 May 43% Apr,
2,610 99 4 Jan
IOI4IOII4
105 Jan 24 :x91 4 Jan 104 4 Apr,
Do pref
10,500 33 FeblV 44 4.Tan 11 2734 J'ly 40 4 Deo
31 ka 35
American Cotton Oil
•92
93 Jan 22 95 Jan 10 89 4 J'ly 97 Feb
Do pref
94k!
*235 240 American Express
222 Jan 11 249 4 Jan 26 162094 Jan 246 Feb
•914 Vi
350
434 Aug 14
9 Feb 17 11-4 Jan 15
Jan
American Grass Twine
8l4 914 Amer
200
6 J'ne 11% Deo
84 Feb 15 10 Jan 26
Hide & Leather..
37
2,200 SO^sITeblt 43 Jan 25 294 Oct 55 4 Mar
377^
De pref
4534 46% American Ice Secnritlea
12,470 35 4 Jan 2 46 4 Jan 18 2434 J'ly 36 De«,
22
600 20 Jan 5 294Jan22„ 154 Jan 23 Deo:
22
American Linseed
*45
49
Do pref
41 4 Jan 12 5.i 79 Jan 20 36 Jan 48 4 Apr
45",60t
72
73 14 American ijocomotlTe..
704 Feb 17 78 4 Jan 4 33 Jan 764 060
*116 117
405 UG Feb 17 1204 Jan 16 10334 Jan 1223, Apr
Do pref
*5
100
5 Jan 3
4 Sep
834 Jan
54 American Malting
64 .Tan 24
*26
27
25 Jan 9 29 Jan 24 20 J'ne 28 4 Mar
Do pref
997910059 Amer Smelters Sec pref B
500 iB.'O'g Feb21 10134 Jan 18 .974 Sep 102 Nor
15939 161 ki Amer. Smelt'g<fe Relin'g. :34,600 159% Feb 2 174 Jan 18 7934 Jan 170% Deo'
12334 123
4,100 123 Feb 17 130 Jan 12 111 4 Jan 137 DeOi
Do pret
'200 225
100 '2^0 Jan 25 220 Jan 25 163 May i250 NoT;
American Snuff
*105 110
Do pref
107 Jan 26 107 Jan 26 99 Jau 10 Deo
*12
1.400 114Febl7 164 Jan 17
12k> American Steel Foundr's,
6% J'ly 18% JIar
*47
48
3,250 47 4 Feb 19 534 Jan 17 354 J'ne
Do pref
67 4 Apr
140 141', American Sugar Refininj; 30,000 ia934 Feb 17 157 Jan 8 130 ""
May 154% Deo
188 140
13879 Jan 3 140 Jan 19 133 May 141 Aug
Do pref
140 141 Amer. Teleph. <fe Teleg...
500 1384 Jan 16 144% Jan 19 131 Dec 1484 Jau
10334 10334 Amer. Tobac. (new), pref.
3j771 iiw
^,1
10314
^ Jan 11 109 Jan 22 91 79 Jan .109% Deo
45 14 45 k; American Woolen
38,787 40% Jan 4 48 Jan 6 20% Jan 47 4 Not
107 10912
500103
Do pref
Jan
11038 Jan 24 93 Jan •108 4 Mar
280 283 k) Anaconda Copper..
-300
241,000 a;230 Jan
Feblo 1004 May ti95 Deo
170 170
100 165 Jan 18 178 Jan Ji :17j Dec x215 Feb
Orooklyn Union Gas
'1638 18
i>ruiisw. Dock<fe C.Imp'l
17 4 Jan 31 20 4 J an 9 1079 Jan 22 4 Deo
54
65
200 54 Feb 23 59 "9 Jan 23 50 Dec 60 4 Jan
Butterick; Co
4238 43 14
17,650 414Febl7 49 4 Jan 24
central Leather ...'.
40 Sep 47 4 Oct
106 106
880 103 4 Jan 5 1074 Jan 24 102 4 Not 105 'e Nov
> Do
pref
63
64 k! Colorado Fuel & Iron
133,550 55 4 Jan 4 83% Jan 26 38 May 59 Mar
*92 110
Do pref
95 Jan 15 1124 Jan 29 80 Aug 105 Mar
204 204 CoL <fe Hock. Coal & Iron. 7,700 174 Jan 4 26 4 Jan 31 1134 May 20 Deo
«169kil75 Consolidated Gas (K. Y.)
12,200 168 4 Jan 17 I8I34 Jan23 175 Not 214 Mar
""
Corn Products
16^4 Jan 18 1934 Jan 3
334 J'ne 2234 Feb;
Do pref
_
55 4 Jan 17 61 4 Jan 3 40 Aug 79 Jan
5314 64
Distillers Securit's Corp. 23,172 51
Jan 30 59% Feb 8 ?347g Jan 544 Deo
80
Klectrlo Storage Battery.
8134Jan 3 87 4 Jan 19 76 May 89 4 Feb
175 189 Federal Mining & Smelt'^g
500 138 Jan 4 199 Jan 22 60 Jan 145 Not
•105 107
Do pief
3,100 104 Jan 4 112 78 Jan 22 75 Jan 110 4 Not
170 170 4 General Electric
3,600 170 Feb 17 18l4Jan 9 169 May 192 Mar
217, 22
4,400 2134 Feb lii 26 4 Jan 15 18 4 J'ne 254 Deo
International Paper"
*84
85
";;
Do pref
1,000 84 Feb
90 Jan 13 76 4 Feb 88 4 Leo
65
65
900 58 Jan 5 a;95 Jan 29 48 Oct 100 Feb
International Powerl
63
6334 Knickeroooker Ice{Cliic)
2,100 6I34 JaalO 68 Jan 15 10 Jau ^i DeiB
67»4 68
3.900 67 Jan
71 4 Feb 6 52 Aug
National Biscuit
„ 69 4 Deo,
*11634 119=8
Do pret
113-2 Jan 5 11S4Feblo 110 Aug 12034 Mar
•1534 itJka Nat Enameiing&stamp'g
200 16 Jan so 18 4.Tan 15 11 Aug 31 4 Apr
•87
90
Do pref
87 Jan 15 88 Jan 16 80 Ans 94 Apr
81
82 ka NationalLead...
25,600 80 Jan 311 95% Jan 19 244 Jau 89 4 Dee
*103kil03k!
98;-i 102.^9Jau
Do pref
1064 Jan 2'. 97% Jau 115 4 Deo
15934 I597g New York Air Brake.
4,800 1547g Jan 30^63^4 Jan 6 ll40 May 1 0334 Not
100 10039 North American Co., new
5,700 98 "Jan
2|107 Jan 12 95% Nov 107 Apr
44 kj 45% Pacuic Mail
6,100 444 Feb 2L
6l4Jaul9 33 May 6334 Deo
^
974 98'
eop. Ga8-L.<fe C. (Ciuc.)
9,200 9 d '8 Feb ;;ao3 jau 2 974 May 115 4 Apr
15
15
Pitts Onrgh Coal Co
100 14 4 Feb 6 174Janl9 124 J'ly 2 1 May
•65
60
100 56 Jan 30 62 4 Jan 19 45 4 J'ly 80 4 May,
Do'
pref
5534 58
Pressed Steel Car
21,385 63 4 Jan 4 64% Jan 24 33 4 Jan 5334 Deo,
99kal00i2
Do Bref
1,420
99 4 Feb 2 105 Feb 1 87 Feb 1014Octl
\\\
{239 239 Pullman Company
23 242 Jan 30 •24734 Jan 15 230 Jlay 258 Aujf
55
55
62 '4 Jan 15 30 May 63 4 Deo.
5,6U0 54 '4 Feb 2
ailway Steel Spriii
•103 4106
L>VDo pref
700 103 4 Jan 5 107 Jan U 93 Jau 106 Nor,
:...
31% 32 Kepnblic Iron & Steel
9,000 314Feb2i 39 Jan 12 15 Jan 36 4 Deo
105 105
Do pref
4,500 10 14 Jan 30 110 4 J an 9 67 Jan 108 Deoi
Rubber Goods Mfg
42 Jan
43 Jan 9 24 Mar 4 134 Deal
Do pref
106'4 Janl5 106 54 Jan 15 94 Jau 109 4 Apr;
84
844 Sloss-Shellield St. & Iron 7,900 82 4 Feb 1 974 Jan 12 60 Jan il34Feb:
108 125
Do pref
112 Fob 3 100 Jan 130 Feb
112 Feb
153 1544 Tenn. Coal, Iron <fe RR
3,700 129 Jan 2 .<;165 Jan 12 68 Jan 148 Deo
7S4 784 Te-xas Pacific Land Trusi
1,600 647gjan 2 83 14 Jau ,'4
374 Jan 66 Deo'
•124 131, Union Bag<fe Paper....
100 13 Febl
154 Jan 19
8% J'ne 16 4 Oct
882 4 82 4
Do pref
550 80 4 Jan 6 84 Jan 18 68 Ian 8234 Deo:
47
48 4 U. S. Cast 1. Pipe & Foiin' lO,750 45 4 Feb 1
i>3
Jau 17 19 7g Jan 434 Deo
92 4 9234
Do pret
1,210 924 FeL>20 9678 Jan 24! 79 4 Jan 97S4 Apr
"
«121 121
United States Express
53 5121 Feb
1384 Jau 26! ^^110 Dec 134 Feb
84
87
100 86 Feb 16 944 Jan 20 77 Jan 984 Mar
U S Realty & Iraprove'nr
•25
28
loo 27 Feb 6 34 Jau 2i 18 Feb 40 4 Apr
U S Redaction & Itetiu'g
•62
65
Do iirei
900 604 Febl'. 71 Jan 4! 35 Jan
Aug
504 50)4 United States Rubber"!! l0,ii0 4:t Feb 19 584Jan22l 3334 Jau 734
58 4 Sep
109 109
Do 1st pref
1,500
108 Feb 19 xllb Jan 15 93% Jan 118 4 Apr
!!!!
•80
82
800
Do id pref ..
9 4 Feb 8x87 Jau 15 75 Nov 8334 Deo
4134 42% U nited States Steel ...!.! ,2'^>552 4034 Kebli
46 4 Jan 20 2479 Mav 434 Doo
106% 107 4
Do pret
i;3,906 105 Jan 5 1134 Jan 20: 9934 May Hi7 Deo
434 50 Virginia-Carolina Cheni!' "9,600 44 JanoO 58 .Ian 2 2^34 Sep 5.'ri%Deo
114 115
Do prof
200 U4 Jan 4 1174 Jan 2' 103% May 118-4 Deo
474 494 Virginia Iron Coai'&d!' 2,300 45 Feb 17 564 Jau 24 36 J'ne 52 4 Feb
234 218
Wells Fargo & Co
235 Feblo 524S Jan26| 5'22(i 4 Dec 260 Feb.
934 934
est'n Union Tele'gpli
iJ500 93 Jau 2 914 Jan -61 92 Jau 954 J'ne
•160 170 West'gb'seEl&Mfgassen
I00I16I
Feb 10 176 Jan 5! l.-r2 May 134 Apr
175 185
Do lsti>ref
185 Feb g 183 Jau 22! I,s7 4 Dec 1197 Apr
240
22

BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS
Banks

1

Feb
Deo

May
Not
May
May
May
Apr

(U)

are

SUt*

bftftM*^

j

—

S

1

I

New York

Exchange— Bond

Stock

»n:cL'PViN<;

U
U
U
U
U

>.

I'.

y

KKB

tYiuau
Feb .3

J'i

hta

<«<»v«'i'iiiii(*iu

cousol i'e!;i.sli-ieil.e/l'.i;^(i
((I'.Mi
consul cuupuii

.i»

ij 'Js

Ji'anye or

Lam

103
103

8 as rfL'lHUTCll
/ilUl,h as coupon
fc^.H^
S ;Js re>; siniill bointa../fl'.)l>
U b ;is cou siiiall bonds. .fciy If
/tUH)'
U S 4s repistproil
U S 4s coupon
/il90'
li>"2;'
U S 48 reu'isterctl
I'J'Jf
U S 4s coupon
Philjppmo islauds 48.11114-34

l03-"<

'4

102' 'i 103

Hi

102 «
103

104
104

'4

UC >4

^.

1

14
94 h.
1954 J.D
\1 hese are pr

ol l'J04

Stale

!ScciiriJies
4 to 5

ices

n

102

Dec '05

1

Currency luuiliuu' 4s
Disl ol Columbia 3-05s

1921' J-J

11 1

191'J

AO

1933 J-J
4 "^s 20-40
setllemeiit 38..1913 J-J

J-J
Virginia fund debt 2-38. ..1991 J-J
68delerred liiowu Bros cits.

Small

Alabama

116

105

Dec '04

Hi

10234 Oct '05

l30HiJ'ly'01
120 I^lar'Ol?
95 Hi Feb 'Oe
95 Hi Dec 't)4

126
"y3'e

97S

25^

Salt

9634

24i«

Jan

'qC

25',

96

Hi

9«'4

ll4

9U«4
2534

20

KK

tt

«.'

1990 .-V-O
1900 J-D

Kei'istered
4s

Couv g

Adju.sliueiil

/tl9y5 -Nov
/tl990 No\
^11990 ,\I-N

g 4s

Kegisiered

Stamped
Debentures 4s Series K. 1907 F-A
teenes F
190S F-.\
190'.- F-A
Series G
Series H
1910 FA
Series X
Series K

191]
1913
1st g 4s. .1928

East OklaDiv
AliKnox<fc>f ieeli&X

Atlantic Coast 1st k4s./(,1952
Cliiules <fc Sav 1st g 7s. .1930
1st gold 0S..1934
Sav h' &
1st gold 5s
1934
Ala JMld Isl gu gold 5s ..192t
BrunscU \V 1st j;u g4s ..193^
coll g 4s
&1902
L<fc
Sli Sli Oca diG gug4s ..lylb
Atlantic iVs Uanv Use South liy
Austin <fc JS \V .SeeSouPacilit
Balt& Ohio prior lg3H!S.1920
Uegisiered
/il925
/il94!Gold 4s

W

X

Kegisiered

P J uii &
PLK

iVi

7tl94,^

M Uiv 1st g 3 '2Siy2."j

W Va .Sys
ret 4si941
g3i-28...1920

Koutliw Uiv 1st

llegistereu
/il920
1st gu g 5s.. 1919
Cen Oiiio K Isl c s4''28..193(i
Pitts Clev ifc Tol Isl g OS 1922
Pills
West 1st g 4s. ..1917
Bat Creek & b Hee .Mich Cent

Wouon lUv

&

FA
FA

.VI-

.\I-S

J-J

A-0
A-O
M-N
J-J
.J.N

J-J

98i4Feli'0b
99
97
104'% 61 10234 101 V
101
101 Hi 10538
Hi Feb'OO
H2
102-'4 515 102
10534
102^4 Sale 102
961.1
HOI-?
90
12 94 Is 073g
95
96H2 95 Sep '05
96^4 95 "«
94
97
903e, 16
95
9958May'05
99 14 LOO
99H2Nov*04
9838
loo ^ Jan '00
100 'a 100 Hi
98 "4
99 Hi J an '05
97'»8

103
101

Sale

H2

90*4

90 Sg
99 H: Sale
101

Sale

Hi

140 Hi
133 Hi
lie's
llOHj
99 Hi
9434 Sale
99 Hi

103'(.

i^<

K

Bunalo

V

99 Hj

yak'

98Hil01Hi

lOliij

IC2I4

L0lHil02Hi

132'8Jan'0G
H2'iHJau'04
1145eXov'05
100^4Nov'05
94»4
95

I327el32't

Dec '05

101

J-J

94^6 Sale

A-0

101 Hi Sale
103 Hi
92
91
9o Hi 99
92 J«Salc

104 •« 104\
101 1^8 Jan '00
91 '2
91 Hi

100

108HiJ'ly'00
109 Apr '00

94Hi

93Hj

Nov'04

90
^,!-J

.U-N
.M-N

J-J

F-A
M-S
.\-o

98 Hi

99

92i«

92

92^J'ne'05

y-J
1-

lOSi
120 ^

U9Hi.Mar'04
Jau'OO

99^8 100

J-J

ifc

Krie

tiec

Kne

1243^ 123i4Nov'05

P gen g

IOII4
117Hi
123

103"' Ai)r"97
12534 Dec '05

128 Hi Sale

12s

Bullalo <fc boul Invest tiee lirKBull A; bus(j Isl rel g 4s.(U951 J-J
A; >;

,Sft'

C

li 1 d;

C^auada South lat 6s
Kegisiered
6c

Shaw u

.V'« ill

98

P

190h J-J
1913
1913 iVl-b

'2d 5s

128 Hi

Hi

y9H2Jaa'O0

lOlHiSalf

101

I0718IO8

107

101 ^

Hi

Feb'OO
1053^ Jan '06

Cent

Carolina Cent ,bct'Seab Air L
Carthage ik Ad bee 2s V C & H
Ced K la 1 cfc X bee B C K * A
Cen Branch U Plstg48...194>-Cen Branch Uy bee .Mo Pac
Cent ol Ga KK IsL g 5a..piy4r
Consol gold 5s
194i
Kegisiered
194r
pl940
lat prel income g 5s
pret
iucoiuo
pVii.
2d
g 5s
;j194.'
3d prel income g 5s
Cliall liiv pur niou g 4s. 1 90
Alac lis Mor UiV Isl g 58.1940
1947
ilid Ga& Atl Uiv 58
Mobile Uiv Isl g 5s
1940
liol
Ga
col
5s
Ivllct
19
s
Cen

Am

Un El

1st g 4-58.1950

Stamped guar 4-Os
Kings Co El l8lff48
Stamped gnar 4s
Nassau Elec gu g 4s

•

No price Friday;

-J

N y

LougBrgeng4s

<fe

Sav

Chasifc

Chea& Oluo

1941

.\I-S

.See So Pacific Co
^'ee All Coast Line

AC

g 68 sor A../ll908

Gold 68

.\(>

l8t consol g 58

M-N
M-N

alOll
1939
Registered
1 939
General gold4Hi8
1992
1992
Kegisiered
Craig Valley 1st g 5s.... 1940
R & A Div l8t con g 48.. 1989
1989
2d consol g4s
Warm Spr val Ist g 58. .1941
Greenbrier Ky ]stgug4s '40
ChiCifc Alt KK ret g 3s... 1949
/Railway Ist lien 3H28...1950
195l)
Kegisiered
Clue Burl<fcQ— DenvD48l922
1949
Illinois Div3HiS
1949
Kegistered
1949
Gold 43
Iowa Div sink luud 5s. .1919
Sinking tuurt4«
1919
Nebraska Extension 4s. 1927
Kegieiereil
1927
1921
SouUnveetern Div4s
Joint bonds bee Great North
Detjenture 58
1913

Han

•d-S

M-S
J-J
J-J
J-J

MS

jlsk

J-J

Feb'OO

Hi

Feb'OO

1 *yj, Hi

1013,

Dec '05

101

102

Jan

04

I

Hi

At/

Low

1

....I'l31

Hi

JliqH
132
13l>a

ll:;Hill2»fl

....

.

Hi.

>«

10134 102

'06

>t

10408

10G'4Feb'0f)

106'4
llO's

109''b

119'.,

lol

101

101

io<'34

ioia"

Mar'05

11.S

96

lOitai

10|118Hill9'«

116 '4 118''b llG'4Dec'05
109 Sale 108 '8 109
V9I
108 10734 Nov'05
lllHi

106>«

...'106

Jan'oo ...ri09'v

llbH, 119'-j

iiiioi" jui'a

J'Jy '05

98

113 '4 Ken '051

II2I4

933,

.M-N

A-O

biiice

Jaij'OO ....'131

131
1 12

.

Jiang»

St:

•2? January
1

H if/h

Low

,131', ISing

82

81=8 «2
81 Sale

80

Feb'OO
Feb'OO
81

...I,

9934

...],

i^l--..

9934
b2Hl

82
hO'4 May'OO
100 '4
10034 Feb'Oo ....'ii00Hil02
93 'f
93
94 '4 93-^8
7 933b 95'4
96'«Feb'05
105"*! 106 '8 Feb'OO .... lOo'tlOS'g
1093
110^ Jan'05
'-.i

'-i

7»>2

79,1

i

A-O
A-O ]02'b
M-N 106 '8
M-N
M-S loo

St J OS consol 6s.. 19 11
ChiCrfc K lU rel & Imp g 4s 1955
Ist 8 1 cur 6b
1907
1934
Isl consol g 68
General cousol Isl 5s
1937
Kegisiered
1937
<fe

«-N

lOti'

«-fe

112

J.J

9(»

10238 10238
107
J07
106 '4 J'nc'Oo
100 Api'05

.

lli

lo,< "=8

A-O

135»«
13518
II9I4 ll'"4
1 19 Hi Alar'u5
llS's Feb'OO

.«-N

M-N

CMc& luuC Ky l8i5s.l93C
Chicago
Erie bee Erie
Chic In & LouiST ref 63. ..1947
Kefunding gold os
1947
LoUJSV A' A
Ch 1st 68.1910

J-J

2

106Hil07

....H

118Hj

106 107
112l8ll2'4
94'^8

Feb'OO

1037g

135 ig Sale
119 '4 Sale

10238

2 1102

106=8 Feb'OO
II2I4 112'4
90 Hi
90 Hi

JD\

96Hi.

l03-bl03''»

139
11734 11938
132

118

<fc

Chicago Milwaukee

St

<ii

36

94 14 95 H.

P

1914
Terminal gold 5s
General g 4s series A..el9S9

-J
-J
-J

el989
Generalg 3HiS series B.tl9Sy
Chic <fc D SuDiv g58
1921
Chic cfc Mo Kit Div 58. ..1920
Chic<fc Pac Div 6s
1910
Chiccfc P
1st g 5s
1921
Dak <Ss Gt So g us
1916
Far & Sou assu g 6s
1924
1910
Hast <fc D Div 1st 7s
1910
Isl 5s
Kegisiered

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

W

D

Exten

1st 7s
DaCrosse&D 1st 5s
Mineral Point Div 5s
So Minn l)\v 1st 68
Soutliwest Div Ist 6s
I d:

Mil

& Ko 1st M L

6s

-J

J-J
1919 J-J
1910 J-J
1910 J-J
1909 J-J
1921 J-J
1910 J-D

Jan

108

Feb 'Oo

J-D
F-A
.U-IM

.u-ri

Oct
Oct
Oct

94

94H2.

Jan '05

121 Jan'OG
119
114'.
114i4Sale 114
107
J'ne'04
lllHill2Hi
95 Ha
90 14
95
90
86 Hj
87 Hi
87 Sale
82
85
83 SiUe

J-D

9334 J'ly '05

91»8
J-J
lllHi
J-J
ir^'b
J-J *113
iVl-N
107^4

Dcc'05
115 Kov'05
llSHiAug'OO
115H>.

H

lia^s

I""I
11314
II6I4

107% 108 14
114

1083.,

Aug"

J-J
J-J
J-J

FA
I-

.

96

108-\ 108
Sale
95 H»

108 H

lOuHi Feb'OO
103
Feb'OO
lOOi-. 10834
109S.
110 Feb'OO
110

loii's 107

105

103

95 Jan'OG
95 Jan '00
s8Hj 89
88 Hi
88 Hi
100\ 10434 103 '4 Sop '05
100>8
1003i, Jan '06
95 J'ue'OO

93
93

UONUS—Continued

107»4 109

90 Hi 100
lOOHi 1011 Hi
lOiH- 103
22 10834 113 '4

110
95

110
95
95
88

9OI4

89 V

1003910214

101 '4

95

»2

94

Hi

latest price this week.

9534
Sale

95»8lfeb'06
94
94 H109

aDueJan

Hi

llj

....

10414

.

114
114
109 Jau'OO
137 Hi J'ly '99
112 FeO'oe
106 Aug'O^
185 Dec'uO

106=8 107

loe-'j

ieb'v^O

113'8.-.

113 -a
110
115
125
105 Hi

Feb'OO
Oct '05
Feb'OO
125
Jau'06
10234 Xov'05
99 Feb'OO

10838
113'4

Hi

111

9b

125
108
108
99
99

107

Hi 108
113Hill5
109 109

I

11238113HJ
...|

106'4lu7%

...I

0034 1( 634
LloHillS-i,
1

15 115
125 126
105 Hi 105 Hi
99

Aov'tJS
114H2 Nov'Oo
114 Hi Feb '06
111 Nov'Oo
lOSIg Nov'u

10334

IIV
117

...
...

106

Hi

129%

119
118 14
102"4 Sale

yo>8

9514
9434

93

96
93

Nov'05
May'04

9413

Dec '05

Hi

9 2 Hi
79!^ Sale
Sale

19 '4 Sale
*ll7i-i
L

l03Vi
lO'J

•

97

90 May'04
79 Hi
SO 150 79
SI Hi
79 Dec'O
92'
88-4 93
91 Hi
101
100 "4 101
101
119 '4
119'
iiy>4ll9>4
l20Hi Mar'03

Nov'05

111

Hs

10638

113

1208»
Hi

102
95

»6>4
J'ly'o

92

112
125

102

9734 Dec'O

'4

Hi

119

Feb'OO

102
96
97

92m

91
101

126 ^ 126 Hj

126 Hi Jau'OO
120 Dec '05
142 Hi Feb'0'2
131 Hi Jau'Oo
105-\ aep '0_
109 Sep '03
120=8 120=8
123 May'05
I02'^ 1023.,

Hi

98'4
loS'j,

Hi

117
117

117
117

110'4 Mar'05

...

12634 127

95

Jan '04
Jan'oo
Feb'OO

105 '4 Dec'Oo
104 Dec '05

...

II7I4

127

1041.1 lOi's

..

104"^...

106

loo Hi

ll4Hlll4~i

114
104 '4 104 Hi 104 '4 Feb'OO
104 iUar'04
112>4.
11134 Oct '05

98»4

111% 11238

103

....

117
117

07

H5'4 US'*

112*8 Feb "00
.00^6 Api '05

...

Feb 'Oo

14

35

U5-4 Oct '05
118 '4 Feb'Oo
108 Feb'OO

107''8l08'-i 107 -8

103
102

lOSHilOSHi
109 '4 119H.

114

Hi

108 Hi 109 H;

106=8 Jan "06
115 Apr'05
109 Jau'OO

106=8 lOO^B
ib'a" io9">i

-N'

on Next I'aae.

Street

A-O

Sal.-

10834 109
12634
Ill's
10414

133

113H! U3Hi
10736 108»«

'06

108 Hi Jan '06
10914 ;o9'8 Feb'OO
109 H. J'ne'04
"9634 96
96

,

3-2 H:

1

108 >«.

I

W

M

lob's

100;

191 J-D
Isl cousol Os
1915 <J-F
Chic (fcXorthw cons 7s
Extension 48
1886-1920 F-A
Kegistered
1880-1920 F-A
93 Hi 9514
General gold 3 HiS
1987 .\1-N
Kegistered
jjl987 Q-F
103 105 Hi
Sinking lund 6s. ..1879-1929 .\-o
IOIH2I02
913^ 92
1879-1929 A-O
Kegisiered
9734 99^8
Sinking tund 5s. ..1879-1929 A-O
Kegistered
1879-1929 A-O
91
92Si
Debenture 58
1909 .•d-N
1909 .U-N
Kegistered
Debenture 5s
1921 A-0
Kegistered
1921 A-0
Sinking fund deb 5s
1933 M-N
100 100
Kegistered
1933 M-N
Des Mo & Minn Isi 78. .1907 FA
North Illinois 1st 5s
1910 M-S
Oil C F <fc St Paul 1st 5s 1909 M-S
Winona & St Pel 2d 7s.. 1907 .\1-N
Mil D S d; West 1st g Os 1921 M-^
Ext <fe Imp 8 loud g 58 1929 F-A
Ashland Div 1st g 68..1925 M-S
Mich Div IslgOs
1024 J-J
Convertible deb 5s
1907 F-A
Incomes
1911 M-N
127 128 Hi
Chic Kock Isl 6c Pac 6s. ..1917 J-J
Kegistered
1917 J-J
99 Hi 99 Hi
General .gold 4s
1988 J.J
Kegistered
101 't
1988 J.J
21 101
A-O
Eetunding
1083.1
1934
g48
100«e
Coll trust Series
10534 10534
4s ..1910 M-N
191 M->'
J 4s
1915 M-N
M48
1910 M-N
N48
1917 «-N
48
1918 M-N
P48
Chic K 1 <& Pac KK 4s. .200-.: .\1-N
Kegistered
2002 .M N
120 121
1913 .Vl-S
CoU trustgoldSs
113'4ll4Hi
Bur Ced R 6c No 1st 58.1906 J-D
Con l8t ifccol irg 58. ..1934 A-O
12 9334 97
Kegistered
1934 A-O
133 80 Hi 87 Hi
CRIF& N Istgu 58.1921 .4-0
56 7 5 Hi 8.
de St D Isl gu g 78. .1927 J-D
Choc Ok <fc G geu g 5s .ol919 J-J
195'.' M-N
Consol uold 5s
Kook A Des 11 lsl5s
192; A-O
O bee ill Cen I
Cliio St Li i&

133

13234 133 Hi 133
113 115
US'!!

i

1950 F-A
-A
1949
1949 t'-A
1951 J-J
Conn Ky <Sc D 1st .t rel g 4 '-28 '51 J-J
1951 JJ
Stamped guar 4HiS
Den Con Tr Co l.sl 5s. ..1933 A-O
Den 'riani Co con g 6s. .1910 J-J
Met Ky Co 1st gu g 68..1911 J-J
Del United Isl con g 4 Hi3.193-' J-J
Havana Elec consol g 58.1952 r-A
liOUis Ky Co 1st con e 58.. 1930 J-J
•.'

kange or
Last bate

131
ll2Hi.

,

BkyCods Scon sug5s.l941 M-K
ijklyii

5»..1921

Wis& MiuuDivg53

i>llSC'ElihANEOlJS>
1940
2002
Kegistered 4s
2002
BkCity 1st con 5s. 1916.1941

Impgu

<(;

Cent Pacllic

."Mffct Itailwny

Brooklyn Kap Tr g 58
1st relund conv g 4s

Dock

Lc 6c Unrt U ECU pu gOs 1920 JJ
Leh & Wilks P, Coal 5s. .1912 M-N
Con ext guar 4 HiS
.7I9IO Q-M

I

&

Bur C K

5«.1987 J-J
/a987 -J

of -\ J gen'l gold

Kegisiered

;

5s. ..1937 ,J-S
AU<k \\'esll8tg48gu..l99t- .V-O
1943 J-J
CI As ^MaU 1st gu g 5s
Koch
Pitts 1st g 08.. .1921 F-A
Consol Ist g Os
1922 J-D
iV;

t^l'iav

Feb as
Bid

Cent

9SHiNov'04
97 Oct '04

Beech Creek liee X V C cfc H
Bellev &, Car i^ee Illinois Cent
Blciyn ik iMoiUauk aec l^ong i
Biuns ife \V est t;te Atl Coast L
Bullalo

.:;i:

<fe

West ,'iee Bull U <fc P
Ann Arbor 1st 4s
/t]995 Q-J
Atcli Xtfc S be— Gou g 4s.l99y .A.-0

Carb

95

Uel<fc llud

*('«;

Alleu'lieuy Valley .veefeun

Alley

Ol ;ibto a.

the b

At Coast lilne

iSee

Susq

(i;

981^1 00 't
'""'8
98 10038
91 '8 95 '^

Railrond
Cent .^eie So Ky

iaba Al idi

Albany

i-j

09 >4 Oct 'OU
l02'2Mar'O2
Mar'02
U934 Oct '04

So Carolina

Teun new

176

7f.

90 \ 570 90 '4 931...
88
87 I4 3^ 87
30 105n^A
107
>4 JOS
1
lOOH,
99 ""lOOHi
94 Hi 72 92 "8 95

9014

87

1906 i-i
1901. J-J
19U0 J-J

bs

"v

loov 81
92 V 3M

107
100 H2
94

Alabama class A
Class Bos
Class C 4s

1924 K-A
Louisiana new consol 4s. .1914 J-J
Norlli Carolina consol 48.191U J-J

100

100
100
91 '«

103
103 HI29
131
109 Hi

103
I03I4
129^8
1293^
109 Hi

Jiiii'lH

1

-fc

Htiilt

ioj-viiu"

12978
29 "e '^ait
129 "•J 130 V, I3OI4 130
no 109 Hi Jau'oo
1

FA

.--

03 14
129 '8

l.mf

1

1 03 'si 03 '«
103=8
103

108 Hi

I''orci«n tJoveriiment
Japanese Govt Cs sterl'g.l'Jll A.O tl00i4Sale
ISIll .V-O 1 1 00 'f Sale
^<t series Cs
X loan 4 S>s oils lull inl. ItIL'.")
t 91 '4 Sale
9iJi4Sale
LM series 4 i-js ctls lull paid J-J
£ loan 4s ctfs hill i)aid..lU31 J.J t S7 ."^ale
Rupubot Cuba 58 exlen debt.. .M .S tlo7 Sale
ol .Mexico 8
U
K OS of IHdii 1,1-. }iO0

Gold 4s

Hi III'
Loui
I03'« Jan 'Of
103 •103-H
103'e Drc'O
103
J 03 V
107 J'li*
104 Hi Oct '05
103 .Ian '00

Wrel^t

STOCK EXCHANGE
Wbkk Ekuikg FEB 23

N. Y.

Nitice

Januari/

bale

Weekly and Yearly

('a(;K"^

UONDS

Kanqe

Week's

ITxce

KXfllANGK

V. STOCK
\VK|fX K.NIilMi

.

Record, Friday,
I'oric

.

94

Hj

9J

Hi

9534
95^4

Mar'98

dDaeApr «DueMaj-

Met St Ry geu

Knilwnr
col tr

Kef g 4s

g 53. 1997 F-A
2002 A-O

11314113'^ 113HiFob'06
yoHi j'O'eFeb'OO
116>4
116
IPJi-jJan'OO
120 124

BwaydB7thAv lslcg5s 1943 J-D 116

Av Istgu g OS. 1993 M-S
Lex Av & P F Ist KU .g Os 1993 .\I-S *118i8
9334 Sale
Third Ave KK con gu 43 2000 J-J
Col<i;9lli

'.

Third

Mel

Ave Ky

1st g5s.. 1937 J-J

W S El (Chic) Isl g 48. 1938

F-A
.Mil El Ky 6c li 30yr g 5s. 1920 F-A
.Minn St llv 1st con g 5s.. 1919 JJ
St Jo Ky El H<fcP IstgOs. 1937 .M-N
St J'aul City Call cou g 5s. 1937 J-J
Underground Elec Kyac£ Lou
don I'roUl shariiiL: 5s..- '.90S J-D
Union Kl (Chic) Isl g 5s.. 1945 A-O
United KKs San Frs 4s. 1927 A-O
United Kys St E 1st g 4s. 1 934 J-J
Chic St 40-vr con g 5s. 1936 .M-N
1

W

j/DuoJ'ne /iDueJ'Jjr

11^14 118

1173^

93
118

Hj
Hi

94

104 Hi..
107I4..

101

106
107

Hi

11314 117
90Hi 92
15 116 11634

...1
...I

119HjliaHj

Dec '05
9

4

Feb'OO
Oct '05
Oct '99

16 "93''^"95"'i
llSHjlia

Feb '06

107Hil07H»

Hi..

ilT'-JNov'OB

98
103
89

Salt

97'S8
1()«»4

Hi

Sale
88Hi

fcDueAug oDueOot

8834
.88

99

98

56

96

66

87 3j, 89»4

Hi

98=8

J'ly'05

89

Hi

Feb '06
Dec '97

p Due Not

88
# Option

90
S»to

Feb. 24 190G

Bond Kecord

|

BON I)?*
STOCK EXCHANGE
Wkkk Ending Feb 23

N. Y.

L&

Chic St

Cs reduced to

Cons

6s...lt):»

J

3Hi8.1'.i:!i>

J-D

Ch St P Minn l8ts6s 191
Nor Wisconsin let 6s...l'J;<<J
<fe

.Price

Weeic's

Jianrie

Pridav
Feb 23

Rawje or

Since

Hid

See Penn Ci

Pitts

M & O con

P

Cliio 3t

VI-

J.

St P<fc SCity lets 6s...l9H' A-0
Chicago Ter Trans r 4s. ..194'; J-J

Last Sale

135%
93

133

135

...

'^

Feb'Oii

Dec '08
Fob '00

W

& C 6€« C C C & St L
S«e C C C St L
Cln S &
Cleartteld & Mali See B K & P
OI

St

112
93
93

—

199,-!

1939
froid 4s
M Divlstg4s.l991
Cin
St L Div 1st col tr g 4s. .1990
1990
Registered
Spr & Col Div 1st g 4s. .1940
Val Div Islg4s...l940
Cairo Div 1st

W&

WIWSt L
C

cfe

C consol 6S..192C

l8tgold48

„.Ji;193G
fcl9o(i
Registered
Uin S cfe CI con 1st g os. . W2^
iai4
CCCcfe I consol 7s
1914
Consol sink fund 7s
General consol gold 6s. 19
19:54
Registered
Istpret 4s. 1940
ind Blcfe
Ist pf 5a.. .1*1988
O Ind cfe
Peocfc Kast 1st cou4s...l94<

W
W

Income 4a

199<
53.193:

J

J

J-J

M-N
M N
M-S
J-J
•VI-N

Q-F

Q-F
J-J

J-D
J-D
J-J
J-J

A-0
Q-J

A-0
*pi

101 '2 Sale
101 102 H:
95
93
106
102 103
lOliu

Oct '00
Feb'06

105k Feb'06

Feb '05

941-2

Aug'03
Jan '04
Feb'06

IO2I4 10534
IOOI4 lOOi,
loo's 10 11-.I

Fob 'Of

103
103

'06
'06

115

121

Jan
Jan

122

103
115
122

132

134

Feb'06

134

135

112''all5

1915 J-D
2000 J-D
N Y Lack cfe \V Ist 6a.. .1921 J-J
Construction 5s
1923
Term cfe improve 4s
1923 M-N
Syr Hiugdi N Y Ist 7s. .190* A-O
Warren Ist ret gu g 3 '2S.2000 F-A
Del cfe Hud 1st Pa Div 78.1917 M-S
Registered
1917 li-8
Alb cfe Sus 1st con gu 7s. 1900 A-0
Guar gold 6s
19O0 A-0
Bens cfe Saratoga Ist 7s. 1921 «-N
Del Riv RK Bridge See Pa Rls
Deny cfe R Grist con g 48.1936 J-J
Cuusol gold 4'2S
193( J-J
Improvement gold 58...192h J-D
EioGr West ist g 4s. ...1939 J-J
Registered
Istref gug 3^28

FA

Mgeand col trust 4sA.1949 A-O
UtaliCeutlslgug4s aiyi7 A-0
Rio Gr So gu aee Rio Qr So
Dea aioi <fc Ft a aee
cfe St L

M

78

'

Iron Range ist53..1937
Regastered
1U37
2d 6s
1916
DnJ Short Line lat gu 58. .1916
Dul So Shore & Atl g 68. .1937
East ol inn see St P cfe M
aat Ten Va cfe Ga See So Ry
Elgin Jol cfe East let g 53.1941
Elm Oort cfe No See Leh cfe N V
Erie latest gold 43
1947
2d exl gcjlifSs
1919
8dextgoU14ii28
1923
4th eit gold 08
1920
6th ert gold 4s
192h
latoonaol gold 78
1920
Ist consol g tund78
1920
Erie Ist con g 4a prior.. 1996
Registered
1990
let consol gen lien B 48. .1996
Registered
199ti
Penn coll tr g 48
1951
60-year conv 4a
1953
BullN V cfe Erie lat 78.. 1916
Bon cfe S
gold 6s
190K
Chic cfe Erie Ist gold 58. .1982

!DtLl

cfe

M

M

A

W

Imp

1321a.
10208.
.

138 >a.

100

Bale

1

J-J
IVl-N

M-K
M-S
M-b
A-O
J-L
M-S
.\1-S

J-J
J-J
J-J
j-J

F-A
A-0
J-L
J-J

lal cur 68. .1913 J-J

N 7 Green L gu g 58-1946 M-N
N Y sns & W Ist ref 6s. 1937 J-J
1937 F-A
1940 K-A
Tenniiial Ist gold 6s.. .1943 M-N
Regis ::i5,00U each. ..1943 M-N
MidRRofN J Ist g 68-1910 A-0
Wllkcfe Ka lat gug 5s. 1942 J-D
CTcfc lud Istcoii gu g68..ni26 J-J

'05

90 •«
95 1«

BdElIUBkn 6e«KCoELcfeP
Ed E 111 6:e« N Y G E L H P
Eq G

LN

cfe

i'

95>,

S«p

97

96 14 Jan '06
8I34 Mar'05

92><iSale

92112

99I4

92»4

17

Feb'06
1121a Feb'06

I

9914

95

96

9215

9334

II314II4
1121a 112 12

114

113

.

II9I8.

119\

107»8

114i2Sale

133
100
92 ^

I18iall9%

119%

1071a 107iv
114 1141-2

Oct '05
Jan'06
Feb '05

1151411514

I514

03
3438

33

134
101

113

113

1071a J»n '06
141a II41U

109

10734
Il4i«
1031*
134*8 Sale

Feb'06

134
133

i<j

lOOia lOOWj
101^ 101 la Oct '06
923,
Sale
92 4

88

91 14

931-2

Nov'04

94 V2 Sale
95
38 941a 98
941a
105 !« Sale 1041a 106 1* 148 1041a 109^6
122 i-j
Nov'05
27
103 104=8 04«8 Feb'06
104% 104V
^223, Feb'06
121 122'4
121H
10234 Dee '05
103H,
xj
13o><i8al«
135 Is 135 li
351a 135
1153<
18 J'ly '04
U2S8
11538 Lec'05

21s Oct
115 116
101 106
109
119"b

16
103
109
1834

'05
'00

Feb
Feb'06

116
103
109

109

116V
103
110

Dec '06

108 '4
10914 Jan '06
Illl2ll2'4 109'eJan'O5
116 120 118 Jan'OG

Tol let ex 4s

113% 113
791-2

la

80

161% Sale 161%
102 "a 1023, 102
103%
106

108 410914

118

118

Feb'06

113

79 >4

80
165

169

102

10234

Sep

89

S*lo

10734

103

1051-2

10034 bale

102

10614106%

105
114

Mar'98

90

Feb 'Ob

101

Dec '05

II412

31

112% 115
89

10034 260

9C

991a 101 T,

100 la
lOJ

100

99

1021a

104

102

Registered

lOSiv
1081a 108
105 la J'ly '04

101i«.

FA
J-J
J-J
J-J
J-J

A-O
M-S
A-O
A-0
M-N
M-N
J-D
J-J

108
107
99

1011-2

99^^.

103
10378

92

F-A

10514
7812

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

81%

FA
J-J

FA
J-D
MS
J-D
J-D
J-D
J-D
J-D
M-S

90
81

101

I4

la

101 >«

103

103

la

Dec

'OO

110 Dec'05
113i2.Mur'O0
100

100

Mar'0:3
100^2 Jau '0(1

loo's 1001a

100
94

.

122

Dec'05
Nov'OiS

12314.

90
125

Nov'05

119
90

.

11934 Mat'04

.

93% May'04

.

10434.

J-J
J-J
J-J

107
107

-M-N

MS

119
102

M-S
J-D
M-S

114

8212 821a

107'4 10734

110 la Jan '05
103 Nov'04

.

110

108% 106'^

108'f. Jan'0()

Dec
Feb '01
119 la Feb '06

107

9934
"-2

12 io5'%io6"4

107»4 Jan'Oi;

,

99

100

92 Det; '05
101 ifi Oct '99
100 Nov'OO

I0534
12134.
10'.i

I0714 1091a

100%101i4

IOII4

70 OcX '04
106'aDec'O:.
102 Oct '01
1061a 100 14
106'aJ'ly '05
1061a Mar'OH
95 Oct '05
123 Mav'99
81 Oct '05
S2''2Feb'0C

io6" lOS
I0210
1051a Sale

la

'O'.:

9934

120

Sale 102
8OI2 78

115
87

99

Dec'05
Feb'Ob

Jau

100

1191a 120
100 10214

IOJI4

114
88

114
86

'06

115
S3

cfe;

M

MK

6'ee

cfe

T

gold 3s. .1950 A-0

L

Kentucky Cent
Keok cfe Des Mo

6'ee
6'ee
Ohio 6'ee

cfe

C R

Uuihedgold48
Debenture gold 5s

J-J

J-J

86%

89

98

80»4

98

i2l" i22"

,

6

/1.1931

1938
1922
1982
1949
1984
1949

NY

cfe

RB

Ist g 5s

011

72

118% 118% Feb'06

73

7514

110i4Sale
106 14

96^1
M-N
A-O 12018
A-O 116

M-S
M-S
A-0
A-0

11334 114

98

,

120 Jau 01
109 la Oct '99
114 Feb'06
98% Dec'05

120

120

112

1164

113% 113%

105i4Jan'0c

1051410614

116

117

103

J-D

M-S

961a
10034 101

J-D

110

J-J

IO912HOI4

113% Jan'06

.

M-S

J-D
M-N

117

IIOI4
IIOI4
112i8^'"v'05
10034 Dec '05

105

10034

MS

117

1121a.

Q-J
J-D

Q-J

113%113ia

(

J-J
J-J

J-J

U7iall9

1131a Feb'.
117 Jan '06

A-O

1927 -M-S

NorSliB let con ggu5sol032
Louisiana cfc Ark Ist g5«.1927
Louisv cfc Nashv gen g 68.1930
Gold 5s
1937
Unified gold 43
1940
Registt-red
1940
Coll trust gold us
1931
6-20-yr c«»l tr deed g 48.1928
E H cfc Naah lat g 6s
1919

.

IISW.

1151*.

M-S
Bkiyncfe Mont 1st g 68. .1911 M-S
1st 58
1911 M-S
N V BcfeMBlstcoug5sl93b A-O
rot gold 48

741-i

Oct '00

IcfeP

-i

Guar

74
63

N

Knoxviile cfe
So Ry
Lake Erie cfe WlstgSs.. 1937
2d gold 5s
1941
North Ohio l3t gug 5s.. 1945
L Sho cfe Mich S 6ee N Y Cent
Leh Val N Y Ist gug 4 las. 1940
Registered
1940
Lehigh Val (Pa) cons g 4s. 2003
Leh V Ter Ry Ist gu g 5s. 1941
Registered
1941
Leh V Coal Co 1st gu g 58. 1933
Leh cfe N Y Ist guar g4s.. 1945
Registered
1945
El C cfe N Ist pi 63
1914
Gold guar 53
1914

Istcousol gold 48
General gold 4si
Ferry gold4i2S
Gold 48

741a Sale

1950 A-0

101

la
la

1151a Dec'05

101%102i4

102 14 101% Feb '00
102
S,

Nov'O.')

9914001 '04
10034 Feb'06
110 J'ne'04

10134 1021a 102 '-4

103
102

1021-.,

10034 10-134

20 101%102>«

Dec'Oi

105
112
111

113
11014
lllia

Mar'0-2

Jan

'00

ill

111

112% .riy

05
1061a 105 Jau '06
II834 120
119 '-4 119 >«
121
1211a 12 m.
103 104 1031a 10334

J-J
101% J'uc'04
M-N iia" lie 1161a Jan '06
99 4 Sale
993.1
A-O
991a
11414 J'no'05
J-D 114's

ilTii""

i05"

118'J4

I2OI4

120

12Ha

1031a IO4I4

'

31

U5iall5ia
98^1100%

Next I'ase.

Electric lAght

LacGaBLotStLlatg58.el919 Q-F 107 107%
Ref and ext lat g 5s
1934 A O 104%
Milwaukee Gas L Ist 48. .1927 M-N
94
N Y G E L H cfe P g 5.S...1948 J-D
10,S%
Purchase money g 48. ..1949 F-A
89%
Ed El 111 1st conv g 08. .1910 MS i(H % 104%
103%

Dec '00

121 Sale 121
121
Ed El llBkn lstcon4r4s 1989
93
90 l>ec '05
•No price Friday; latest bid and aaked this week, a Due Jan

A-0

8O34
16834

'05

lOySjFeb'oe
93 Feb'06

.

106 14

10iji4

92

113%

Nov'03
61% Oct '01

108

1951
1951
1951
1951
1951
1952

Extended Istg3i28

BONO.S—Conlinued

112

80

1955

W

iiixa niid

78

1141-.

90

Leh cfe Hud R 6ee Cent of N J
133 1341a Leh cfe Wilkesb 6'ee Cent of N J
Leroy cfc Caney Val 6'ee Mo P
133 133
Long Dock 6'ee Erie
9914IO2
Long Isl'd— l8t con g5s./il931 Q-J

cfc

Co Gas Ist g 6a. .1949
City (Mol Gas Istg 5s 19;<2
|JtUiK8C0 El Lcfe P g 6a.. .1937
Purchase money 68
1997
Jluch-ion

Xan

cfe

Houst K cfe
Tex 6'ee So Pac
Houst cfe Tex Cen .See So Pac Co

Registered

99I4

9914

114

J-J

Istextg4a..l948 A-O

Kan C cfe Pacific
Kan City Sou 1st

^04

OTOb

lat con g 68. .1932

tiaacfe Eleo Berg Co eg 03.1949
Gen Electric deb g 3 "as.. 1942
Or RapO LCo lat g 68. ..1915

H V

M

110

II4I1

I06i4l07'>

Hiqh Ko Low High
'05
Dec'O.'^
Apr '05

Oct

M

i>IlSt;EI.IiANEl)US
<«a« nn<l Elpctric Lif(ht
k-tlanlaG L Co lat g 5s... 1947
Bklyii U Gas Ist con g 5a. 1945
pultiUo Ga« Ist g 08
1947
Consol (iascouvdeb 68. ..1909
Uoiisum Gas 6ee P G cfc C Co
Detroit City Ga8g6s
19'23
pet Gas Co con Ist g 6a.. 1918

cfe

Col
Col

W

100^4

Sep

122
111

J-J

Greenbrier Ry See Ches cfe O
GulrcfcSllstrefcfetgSs /)1952 J-J
See C B <fe Q
cfe St Jo
onsatonic See N Y N H <fe H
Hock Val lstconsolg4i2S.1999 J-J
Registered
1999 J-J

N

'Ol"

1081a
9814
983s,
90i«
9018
37 Jan '02

981, Salt

cfe

2d gold 41128
General gold Ss

0«34

Ask Jmw

110

J-D

Gouv cfe Oswegat &'ee N Y Cem
Grand Rainfe In<t See Penn KR
Term See St L S W
Gt Nor— C K cfe Q coll tr 4s 1921 J-J
Registered. A
1921 Q-J

1952
cfe Tex gold 4s ...1958
Registered
1958
Cairo Bridge gold 48
1950
931a 96 iv
LouiavDiVcfeTerin g3i28.1958
Middle DivregSs
1921
Omaha Div 1st g 3s
1951
St Louis Div cfeterin g3s.l951
Registered
1951
Gold 3iaS
1951
Registered
1951
107 lOT^e
Spring Div 1st g 3I23... 1951
Western Lines 1st g 4s. .1951
1281a 125 i-j
12638 127
Bellev cfe Car 1st 6s
1923
Carb cfe Sliaw 1st g 48. ..1932
Chic St L cfe
O g 5s. ..1951
I26I4I26I4
Retristered
1951
I13'2ll4^
Gold 3ias
1951
Registered
1951
10414104^4
Mempli Div Ist g4s...l951
St L Sou 1st gu g 4s
1931
lis"! 33" Ind Bl cfe West See C C G cfe St L
Ind Dec cfe
1st g 5s
1935
1st guar gold 5s
102% 102 »h
1935
102 !« 1021m Ind 111 cfe la 1st g 43
1950
Intcfe Great Nor 1st g 63.. 1919
2d gold 5s
1909
3d gold 43
100 lOO^g
1921
Iowa Central 1st gold 6s..l93^
Gold 4s
108 109
1951
Jetterson RR .See Erie
971a 100
90
92
A cfe G R 6'ee L S cfe S
Kal
an cfe Mich 6ee Tol
(> C
K C Ft S cfe
See St L cfe S F
K C cfe R cfe B .See St L cfe S F

XOS^

108 "i Sale

A-O
A-O
A-O

Gray's Pt

Registered

105 Oct 'or
104 14 Jan '06
102 Feb '03
133 Feb'06
149 A»c'01
102 «8 Jan '06
102 !« Jan '06
142iaM.ar'06

.

J<inuary 1

.See

791*.

J-J

M-N
Jea RU I8tgug58....al909 A-0
Long Dock conaol g 6a. .1935 A-O
Coal cfe RR lat cur gu 68.1922 M-N
Ijockcfc

11468 Jail

^i

105»4
1123i

M

LN b

7434

126 14 Jan '06

A-O 11334
A-O

M-S

Pere

1st gold 3s sterling
Coll Trust gold 4s

98^.
I26I2.
lllii.
103
1041^.

101
80

100

123 125'2 12515 Jan '0«
126 >8 128 127 Jau '06
127 J'ue'05

100
103

cfe

since

Last Sale

i'.V

Bid

Co

Registered

lOTTeJan'Oe

lOBH...

102'

l^eiiii

cous 6S.1921 J-J

1st

Lllinois Central 1st g4s..l951

101 Feb'06
79 Uj
79
11538 Nov'05

79 Sale
11^3*

98

r H

cfe

1st gold 3ias

W

Des Jl cfe Minn See Cli cfe N
Des Moi On Ry lat g 58..1917 -M-N
Det M cfe Tol See L S cfe JI So
Det cfe Mack Ist lien g 43.1995 J-D
Gold 48
1995 J-D
Det Sou 1st g 4s
1951 J-D
Ohio Sou Div 1st g 48. ..1941 MS

1081.

1011410412 104iaNov'01

98^
IW)^

See

Pitts

cfe

1942
letgeiieral gold 5a
Mt Vernon 1st sold 6a. .1928
Suil Co Hranch iRt g 5s. 1930
^^'^^go cfe So ,S'ec Oh >t cfe St £'

Range

U'eeto'«

Range or

Jfeh

Han

105
103
103
115
122

W

CoDU c& Term 6ee N cfe
Conn ifc Pas Rivs Ist g 48.194:i A-0
6ee C il cfe St P
Aak
cfe Gl So
"I
J 'aUas cfe Waco 6'ee M K cfe T
Del Lack cfe Western 7s... 1907 1-S
Mpmscfe Essex lst7s... 1914 M-N
1915 J-L
Istcousol guar 7s

103

101

CI Lor cfe 'A^l con Isl g
A-O
Clev cfe .Marietta 6'ecPeuu RH
*118l8.
1161a Jan '05
Clevifc .Malion Val g53...iy3t J-J
Clev cfe Pitta -See Penn Co
Wj Sale
761^
76
761a
1947 J-J
Col Midland 1st g 4s
943;,
94 "s 9438 941s
Coloratio & Son 1st g43...19'2i' F-A
Coluiu cfe Greenv St^ So Ry
Col <fe Hock Val -See Hock Va.
Col cfe To! .See Hock Val

Col

iliS'',"

Jhrice

trltlav

'

100 14 Feb '06
lOlia 101 li
lOL
101
100 Oct '04
9934

Evans

W

9634 J'ly '05

104»4l05i52

Erie

186

pere Mar
23 98 1(10
Fla Ccfe Penin .See Hea Air Line
114% 114-% I'ort St U D Co lat g 4»as.l941
Kt
cfe Don C Istg6s....l921
fct Wcfc RioGr 1st g4s...l92S
al Har cfe S A
.See So Pac Co
i
112
112
v7alHcfeHoflS82 1st5s.l918
Georgia cfe Ala 6'ee Sea A Line
Ga Car cfe Nor .See Sea A Line
Georgia Pacific .See So Ry
Gila V G cfe Nor See So Pac Co

I.

Clev Cin C cfe St L gen k 4s

H\<ik

bin

W

113
112

Low

124»8 1243g

100 DtiC'05
100
100
1143g Feb '06

Sale

150N l>»

STOCK EXCHANGE
Wkek Ending Feb 23

135
135 ii

129\ Mar'04
124''b Feb 'OK

123

437

2

N. Y.

5;^ Januarii

Hiqh

Aik-

9419...

100
Coupon olt
Chic& West Inrt gen stOa^iyyi y-M II414
tiee Pere M a rq
JNl iclL
Chic &
Choc O cfe Gulf Se» C R t & P
CmH<feD 2dgolrt 4'^s...l937 J-J 403

Oln D <fe I 1st eu s 5s...iy41
Ci^mlcfe FtWlstgu4sK.".;3 M-N
1st eu k 4s.1'J5;-! J-J
Cin I <fe

—Continued—Page

l8t cousol gold 58
1995
.VYcfeyEllxfePlstconpSsHK^O
N Y cfe Rich Gas Ist g 6a. 1921
Pat cfe Pas G cfc E con g 68. 1949
I'eo Gas cfc C lat cou g 6e.l948
Refunding gold 58
1947
CliG-LcfcCkel8lgug6a 1987
Con G Coof Cli lat gug 68. '36
Mu Fuel Gaa lat gug 5a. 1947
Syracuse Lighting lat g 58. '51
Trenton (} cfe Kl 1st g 5a.. 1949
Weatrhester LU'ht'g g 5a. 1950

Due Feb dDnoApr «DaeMay A Due J'ly

J-J

117

F-A

101% 103

1203,

M-N

105% May'OS
93 Jan'06
108-14 Jan'06

89%

89 Hi

1041-2

Fob '06

1

19

106

J-J

107%

(a

% Nov'06

104% Jau
103

MS
A-O
MS

107

107

'Oti

108%

93

93

108% 10934
89% 92
104 104%
102% 104%

Nov'05

10434 Nov'05
123 Feb'0(>

108% 107% Jau
107
108

107

J

'06

an '00

122

12.S

107% 107%
107

107

Fol)*«6
J-D
108 lOe
109
M-N 103 'a
103% Deo '05
J-D
106%
M-S
110 May '05
J-D 107 ib7% 10834 Feb'06
1083, 108*4
Jk Due Aug
Doe Oct (Dae Deo iOpUonSale

S

J

Bond Record— Continued— Page 3

438

H ee/c'n
Jiange or
haul Sale

Jtice

K. Y. 8T<J( K. E X H A N « E
\N KKK K.NUIM. KKU 23
(

;

L0UI8T

<k
<b

LCin

/Yidav
Feb as

•

i;a.

Bid
Si\»Uv—(ConttnuKij
L#x irol<l4'oM...l!t;<l M-N

N O* M
N O* iM

Isl I'Ol.l Hs....l'.i:((

Ck

i.'Olil

•Jci

l!i:-fi

W-S
All Knox .t Xor 1st i-nsliMi J O
Heni1.»r B.lct- iHt si c6H.li>Hl M-S
Kent nrkv Con 'j-olil 4x..liis7 JJ
LA -V & M A M 1 HI K 4 Has liHr. M-S

72

I'.Wi

114"t.
1

Life N-Sotith

Klacfc

M

s 1st

joint 48.1!i'i'.' J

jrn

Pens & At! iHt
6 <fc A Ala con

If

eni

Sink fund
LA Jen Udei'CoCTi >r48..194ri

LN A&

Cli

.See

C

AL

I

ll«<ri st^To'd

Metropol

A

McK'pt

lil

B V

itno

A-0
A-0

lsi0t«

J-J

1

1st k

Hee

(>s

N V

107
99 >4

A

coll!!old5s

li'l!-

19(17
sr 4H2N 1st
Ser
Int*rnat 1st con e 4s. 1977
1977
Stamped jruarauteed
Mex NortJi let sold lis. ...1911'
Mich Cent Hee >i V Cent
Mid ot
J Hee Kne
\V
Hee Chic A
MU L. S A
Mil A North tiee Ch M A 8t P
Minn A St L Ist eold 78.. 1927
1909
Iowa Ex lat gold 78

Coll tr

W

lOSVjloSiv
99
101
110
95 '4 9t)
110'rll7-\

110

lOO'ulOO'v

103

102^8 1037^

Apr '05
Feb '06

SOOg

83H,

24^4 Sale

•ii.

24»4

20

20'*

20 >« Sale
92

AG
FA

May'OO

138Vi....
I09i«....

137

Pne-OS

120
110
113
97

....
....

Paolflo Ex Istfrold
Sontli West Ex 1st
Ist consol gold OS
1st and refund gold 4s. .1949 Wl-S
Ft D 1st srn 4s...':-f5 J-J
Des
Minn St L gn iee B C K A N
SS
con g 4 int gn 'Ss J-J
St P

Feb'06
113^4 Mar' 05

114

113'2

MA
A
M
A
MSSM A Alstg41ntgTi 192li
Minn Un iec St P M AM
Mo Kan A Tex 1st e 4s... 1990

M

J-J

<•

J-P

^1990 F-A
1944 M-N

2d gold 4s
Ist ext srold 5s
refund 48
1st

limoct

.

Bate AStnrl8tgng3s.l989 J-D

'05

120

101 >9.
10134.

101
103

Feb'06
Nov'Ol

101 Sale
89 14 Sale

101
89

101 12

106^4 Sale

10634

]oe»<

8912

25
91
913(.
M-S 9034
9l»8
A
9318 94
93^ 93 >« Peb'OO
St L Div l^^t ret s 48.. ..2001 A-O
i0734
108
M-N
Feb
'OK
107
108
Dal A Wa lat gn g 5s. ..1940
95 7e Peb'06
95^8 96
Kan C& Pao 1st g 4s... 1990 F-A 9508

MoK
M
M

20i>4

gug 6s... 1942 A-O

116^8 Web '06
A K Ist
1942 M-N 'ioi;i4 1093< 10934 109
K A Ok let ga5s
109»8
log's 109H;
K ATotTlstgug5s.l94
'109"
107 1* Dec '05
Sher Sh A So 1st gu g 5s. 1 943 J-D

Tex A Oklalstgug5s...l94t;
1900
Missouri PaciOc 3d7s
1920
1st consol gold 68
Trust gold 5s stamped. ol917
Registered
al917
1920
Ist coU gold 5s
1945
40-year gold loan 48
Cent Br Ky Ist gu g 4s. 1919
LeroyACVALlstg58 1920
Pac H ot Mo l8t ex g 48.1938
2d extended gold 5s. ..1938
Sgen con g 5sl931
8t L, Ir
Gen con stamp gtd g 5s 1 931
TJnifled A ret gold 48.. 1929
Riv A G I>iv let g 4s. .1933
Verdi V I A
let g 6s.l92H
Mob A Birm prior lien g 5s 1945
Mortgage gold 4s
1945
Mob J A K C 1st cons g 5s. 1953
Mob A Ohio new gold 6s. .1927
let extension gold 6s../il927
1938
General gold 4s
Montgom Di* let g 58. .194
St L A Cairo coll g 4s..el930
Guaranteeil g4s
1931
eoU 4s Hee Southern
Mohawk A xMal Hee N V C A H
Monongahela Kiv mee B A O
Mont Cent 6ee St P
A
Morgan's La A T Hee S P Co
Morris A Essex iS«eDel
Chat A St L 1st 7s. 1913
Nash consol
1928
gold 5s
let
Jasper Branch 1st g 6a.. 1923
MoM
A Al l8t 6s. .1917

MA

W

MAO

M

M-S *109
-M-N

M-N
M-S'

M-S

FA

M-S
f

A

J-J
F-A
J-J

931*

921a 93 '»
9434 96 1.

»S^
96

95

Sale

9412

96

99

116

96

117=1,

112

J-D

126>2 12011;
126 4127
123 S; 122 Dec '05

....

98
9Gii2

Q-J

M-S

lll'2Mar'04
96 Oct '05
97 Jan '06
9834

FA

Q-F

11014
91^4

J.J

97

Jan

9412

126

'U6

llSs^Kov'Oo
98
98
101 NoT'04

100

Feb '06

J.J

llQJalSO

A-0

115 II5I2 115 Feb, 06
118^4 .119'4Feb'O0
117 '4 -Mar'OS
112's...
112 ...
113 J'ly'04

J-J
J-J

11914

I2

97
12612

9334

99

98

98

86 >4

8(i

9SU

98^4 Sale

98'
Sale

M-N

98 '4

101
89 >4 89>.,
88
89 »e
89 w, 91
88
90

FA

F-A
F-A
F-A
J.J
J-J
J-J

104»4

102 S....

A-0
J-D
J-J

J-D
M-S
F-A

106>4
aiHi

....

100
82

....
....

36

102ial02i2
85
8712

iOl

9834
Feb '06

98

993^

98 14

9812

100^4 102

lOlifl

89
89 hi
88
88
89 '4
89 >4
90 '4 Jan '06
105 '2 105 "2
102 Mar'04

89
88

93
91

8914
9OI4

93 Si

"2

90'4

lOaialOSHi

95
106 "a
101

J-J

Q

J

A Mont See N Y^ Cent
A W See C C C 4 St L
Olnd
hio River RR 1st

g 5s.l986 J-D
General gold 53
1937 A-O
Ore A Oal See So Pac Co
Ore RR A Nav See Un Pao
Ore Short Line See Un Pac

06',

"'ilio'?" ib'ii"

lJ|il06i2l07»4

KWa

...lilO't

Feb 00
27

99»4
99
I0038l01»a
lOliglOl',

122'al22«»

109\Apr
120 Jan
119 J'ne
106 J'ly
106 "2 Not

120

120

9812 Feb'06

97'8

98««

116

116H

125

125

10234

104^

'02

07 '-2 Feb '05
105 "4 Feb'06
103 Oct 'O.J

125
103 4

Feb'06
10334

106'^Oct '05

111

Sale
Sale

Peb'06

107=4 111

32 12

132>2l32^

13034
12934
1013g

Feb '"Ob

13034 13034

100
99

Feb'06

IS.'Vj

1

N0V05
10 IV 10

94^,

101

100

11-314124

96>a

101 'a

106

75'4

781a
751*

100 la 101

i09''4

125 Oct '05
132 J'ly '99
114 Dec '05
109 la Jan '06

109

9»34 102
943^
lid's

lOOHiNov'O
94 Deo '05
116 Jan '06

115

112
112

118

Nov'Oo

11434

Jan

99
114

Dec'O
Feb'06

1121a

>a

104
76

7634

75 14 Feb'06
IOII4 101 Jan '06

116

ioi\

1041a 106 14

1041a 105
100 Jan '06
7614

iofi^

981210"

99
95

94^8
10912 Feb '05

101

105 Sale
I0334
7638 Sale
.

Jan

1

116
114

101
10ia» 104

••.

95

Apr '02

105
105
106

Not' Of
Oct '02
Sep '05

'

102 >a 103
94
68
102

9112.
M-S
91'2.
F-A
98
M-N
A
A-O II8I4
Registered
1932 A-O
CI A Pgengug4'2S8erA.'42 J-J 113 Is
Series B
1042 A-O 114
Series C 312S
1948 .M-N
981a
98
Series D SSas
1950 F-A
90I4
Erie A Pittsgug3i28 B.1940 J-J
96I4
Series C
1940 J-J

3128 coll trust reg.1937
Guar3i2Scolltr ser B... 1941
Tr Co certif's gu g 3 "28. 1916
C St L P 1st con g 58.1932

»a

109 la

116

NACBdgegengug4iaal945 J-J
PCCAStLgu4'28A...1940 A-O

102

A-0
M-N

112

Series
Series
Series
Series
Series
Pitts Ft
2d 7s
8d 7s

B
C
D
E

guar
guar
48 guar
3 lo guar g
F 4s guar

WA

'04
J'ly '04
79''b

445

74'8

77

134

1051a Oct '05
'4

Oct '00
Feb'OO

llOig

llO-v

105

100

101

HI

no

110
103

105

91^8 102 '4

77 '4

107«8Dec'04

11014

103

1024

107 Moy'97
102 12 Oct '03

101 la.
991a.

"s

no

102 Dec '03
1031a 10334
95
96

96 Sale
*NovnoeFrtilay; latestbidandasked. aDaeJan

1942
1942
1946
19+9
1953
C Ist 7s. .. 1 912
1912
/il912

RR

BUNDS— Contiuuetl

10712001

78 ig Sale
76 Bale

.

M-N
F -A

J-D

77I4

88 12
74 's 83 Hi

1121a 114
10634 106»4

ioesiiofi*
92*4
97^8

98

Jan

122

'06

92*4

9S
12'J

10S'«Aug'03

98i2Deo'05
96 Jan '04

96I4

96I4 Jau'Oi-

9OI4

98 »4 Apr '04

'4

112

1 12'sFeb'tM>
11278 1121s Feb 06
U2'-2.rue'05
103 ... . 103 "2 Dec '06
92^8
92 >2 Feb'06

112

92

« 1127,
>a

941*

103
127 "b Oct '02
121 iMar'o4
119 Apr'04
107 Dec 'Hi

J-J
J-J

A-O
M-N 106 -a.

U-S
lll>aSep'04
M-N 108
Aug'O:.
liKj
..
9714 Sale
J-D
97 -f 199 97'4l0l
9714
10-.:
.MN 101 Sale 101
163 101 10534
.

M.fe

M-N
F-A

IOJI2

,

,

103 la
108 12.

10414 061

'lK>

110

Jan'0,">

10838

Feboe

.

....

108

180S

on Next k'ago
anil

Telephone

Am Telep A Tel coll tr 4s 1929] J- J
Ist g 48. .2397 Q-J
MetTA TlstslgSs
1918 M.N
N Y A N J Tel gen g 5s. .1920 M-N
Oomni Cable Co

West Onion col Ir cur 5s. 1938 J-J
Fd ana real est g 4 las. 1950 M-N
Mut Un Tel s luud 08...1911 M-N
NorthwTel gur 4i28g..l934 J-J
. .

.tlanufactni'ing

974 98
1091^

109

PSi^Jan'Oo
97 12
97

10915 MaVOy
I0514 J'ly'08
108 FebOO

1040b 105

10434

106

107
103

105

Jan

'06

94I4

t'S"*

97

98

07'slO«»B
11 10414 105

107

107

96

98

J'ly '04

& Industrial

Am Cot Oil

ext 4ias
1915
97»4 101 "2 Am aide A L 1st s fg6s.. 1919
110 llOSg Anier Ice Seour deb g 6s.. 1926
109 llOia Am Spirits Mtg 1st g6s.. 1916
Am Thread Ist col tr 48. ..1919
Tobacco 40-yr g 68
1944
103 la 10334
9IS4 96 "2
1951
4s

Am

1101*11434

'06

106*4 Tan '06
102 Apr'O-.;
107 14 Feb'06
10734 Dec '05
93^ Nov"t>5
9234 Jan 'Oa

98
122

.

GrRAIexlstgug4'2Sl941 J-J

Feb '00
Jan '06

103
102

1921 J-J

Guar

Toleempli

FA
FA

V

J-D

M-N

Wash Cent Ist g4s
1948 Q-M
Not PacTerCo 1st g68..1933 J-J
Nor Ry Cal See So Pac
Nor Wis Bee C St P M A O

Consol gold 4s
1943
Convertible g 3 "28
1915
Convertible g 3I29
1912
Alleg Val gen gu g 4e...l942
CI A Mar Ist gu g 41-2S..1935
D R R R A Bge 1st gu 4s g.'36

Coal and Iron

M

9;J

1997 Q-J
a2047 (J-F
o2047 O-F
1996 J-D

1st real est g 4s. 1923
CXinsol gold OS
1919

lHLSCEL,I..ANEOi;S

H

J-J

199t) J -D
C B A Q coll tr 4s SeeUt Nor
St P A N P gen g 68. ...1923 F-A
Registered certifies. .1923
StPaul ADul Ist 6s
1931
2d 5s
1917 A-O
1st consol gold 48
1!:>68 J-D

Penn

97

107''f

AC

FA

1

122»8 Feb'Ot;
139 Jan '03

W

113

J-J

F A I Co gen b f g .58. .1943 F-A
Convertible deb g 5s
1911
Col C A I Dov gu 5s g..l909 J-J
Col I'^uel Co gen gold 68.1919 M-N
Qr Riv Coal A C let g 681919 A-0
Ool IndtLsl St couv 5s gu A. 1934
Ist g A coll 08 gu Ser B.1934 F-A
Contin'talC Istsl gu5sg.l952
Jea A Cflear C A 1 1st g 6s. 1920 J-D
2d gold 58
1926 J-D
Kan A C A C 1st e f g68.1951 J-J
Pleas Val Coal 1st g s f 68.1928
Tenn Coal gen Ss
1951
renn Dlv Ist g 68
ol917 A-0
Birm Dlv Istcoueol 6s. .1917 J-J
Cab O
Co 1st ga g 6s.l922 J-D
l>»BSn C A X Co gu g 68. 1910 F.A
Iron OoalA Co Ist g 58.1949 M.S

99

lOS
Feb'Oi

100'.
10012
101 '». Fcb'O'J

11334

Oswego A Rome See NYC
O C F A St P See C A N
Oz'rk A Cher C 1st gu 58 g.l913 A-O
.100 Is
.113
l>jvc Coast Co 1st g OS
1940 J-D
r ac of Miasouri See Mo Pao
Panama 1st s fund g4'2S.. 1917 A.O 105 ig.
Sink fund subsidy 6s.. 1910 M-N
Penn Co— Guarl8tg4i2S.1921 J-J 106'b107

118 II9I4
II4I4II5
II9I4II9I4

102 >2 Jan '06

107
86 ^i Sale

1951 A-O

New HAD Aee JS y JM H A H
N J J unc KK Hee ii V Cent
New A Cin Bdcre dee PennCo
N O A JM E prior lien g 6s;)1915 A-0
N y Bkln A ilan Bch Hee L 1
N y Cent A 11 Klvg3i2S.1997 J-J

Ool

"2

119'2 Mar'OS
11618 1164

ir

LAN

Regi8t«red
1997
Deben g 4s
1934
Lake Shore collg 3 '28.. .1998
Regiatered
1998
Mloh Cent coU g3'-28
1998
Ji«gi8tered
1998
Beech Creek let gug 4s. 1930
Rejnsterod
1930
2d gu gold 58
1930
BeeohCrExtlstn 3128 61951
Cart A Ad 1st gn g 4s. ..1981
Clearl Bit Coal Ist s 148.1940
Gonv A Oswe Ist gu g 58 1942
Moh A Mai 1st gu g 4s. .1991
J June li gu 1st 4s.. .1980
N YAPnl8tcongug48 1993

Registered
General Uen goldSe
Registered
St Paul-Dnl Dir g 48
Registered

Registered

lien 4'2S. 1926 J.J

00->4

100

Nor

J-J
J.J
J-J

Natot Mex prior

N

i6i\i ibe"
119 12038

105
120»8
117'a
116
9212

9318

IVI-S

1st 6s. ...1917 J-J

6ee

Jan '06
Jan '06
Feb'06
Nov'06

J-J

M-N

Branch

let consol 48

10334 1 09 12
103 103 12
I2313I26
106 107»«
104 107 >2
106 IO8I2

M

MW

Nash Klor A Shef

109 "2 Feb'06
103 >«
10313
103 "v
124 124 "12 124
124
1063(, 107
107
107
107 »9 107 "2
106
106
106
94'-; 9412 Peb'06
96 Sale
96
95
103
110 Mar'06
102>2
120'* 121
117>2
116=8

A.O
A-O

LAW

TAP

WW

MS

1

105i8Mttr'05

1996 A-O

Registered

Dlr'llstlAgeng4s...l944
Pocah O A C Joint 48. .1941
CCATlstgugSs
1922
11514116
Scio V A N E 1st gu g 48 1989
108i2l09'8 North IlUnois See 'Jlil A N
1071s 1098h North Ohio See L Erie A
Nor Pac— Prior lien g 4s. .1997

116

1071a

t

fiif/li

75'2

m^

113Si

Feb'oG
97 "a J an "06

97S 97

Low

.

MS

"2

106

Since

•

104
N Y A Karlem g 3128...2OOO M-N
ReylBtered.....
20OOM-N
N Y A North let g 58...1927 A-O 112
K WAOconl8text5s./il922 A-O 116
78'a 83^
2638
24
Oswe A R2dgu g68...«1915 F-A
18»4 21
R W AOT R lat gu K 58.1918»«-K
103
101
Utlca A BlkRlvgng4s.l922 J-J
98>2 98»8 N Y Cliic 4 St L Ist g 48.1937 A-O 106 'a
Registered
1937 A-O
N Y A Greenw Lake Bee Kne
N Y A Har See N Y C A Hud
N Y Lack A W Se^ D L A W
N Y L E * W See Erie
N Y A Long Br See Centof N J
NCTT York New Hav A Hart—
Housatonle R con g 5s. .1937 M-N 123
N H A Derby con cy 6*.1918 M-S
120 120
N Y A North See N Y C A H
N Y O A Wref Istg48..ffl992 M-S 1031a 104
113
Regis 35,000 only
ol992 M-8
9612 97
N Y A Put See N Y C & H
97 "a 97 12 N Y A R B See Long Island
N Y S A W See Erie
101 10134 N Y Tex A M ,See So Pao Co
Nor A South let g 68
1P41IM-N 107 110
Norf A West gen g 68
1931 **-N 13208
100 103
Improvem't A ext g 68. .1934 F-A VMU
89
92 »s
New River let 2 68
1933 A-O 129»8
10634 107 >2
N A W Ry Ist con g 4s.l9»e A-O lOl^^Salo
88T8

N

J-D
68. ..1921 A-0
g 7s. 1910 J-D
1934 M-N

-

10334 105

98=8 Jan '06
90»8J'ly'0]

M-S
M-S
J-D

J-T)

AO

.

100 "2 Feb '00

83 ^ Sale

BtU
Atk
It—(•Ort'injwrf
Nor A .Mom l8t gu (r 68.1916
107 '4 IOM'2
West Shore iHt 48 gu...23»il JReglmorcd
236 J J 106 Hi 10"
LakeShon- golil 3'-jS
1997 J-D KO ...
9914
Registered
1997 J-D
10l"2lUl
Debenluro L' 48
I02ft
9Hia
Det Mon A Tol iHt 78.1900 FA
_
Ka A A G R 1st am o 58. 1 93H J J 1203)
Mahon C'l KK 1st 5b. .1934 J-J 12212
Pitt«McK A Y l8t jfuG«.]932 J-J '128 ....
2dgnar68
1934 J-J
McKeeaA B V l8tjr6» 1918 J- 112
I06I2.
Mich Cent lat coUNoI 68. 1909
1931 M-S 1/0
68
Registered
1931 O-M 114
48
1940 J-J 104
Registered
1040 J-J
J LA S Ist g 3128
1951 M-S
98
98 S
Ist g 3 "28
1952 M-N
1

Bange

January

/.atl

.

Cent

Mex

N

101
11')

2J

MS

08 >2 Jan '06

110
96

102>al03>v 103
104
104»4l05i4 105

Metropolitan Kl Hee Man Ky
Mex Cent consol sj-old 48.-1911 J.J
let consol inconie ^' ;<s.al'.»H!* •fly
2d consol income c :}s..al93'.i J ly

Equip

'2 ^Iiiv'Ofi
••'s

M

S
Coal See L b A
aniiattan Rvoou80l4H.l!t»()

Mahon

Ajir'On

llll

N y Cent A K

Week'r
Hanije nr
Sale

friee

Frfdnv
J-eb

1

115»2 Dec'O')
115 '4 .Mur'05
107 Dec '05

112

AO

V/ir/A

Oct" '05
74
Ill's Sop 'or)
1

Bale

109

6»..1W\ K-A
K-A

a i)H..\\KH<
19111
soUHis

119

«i

STOCK KXOUAN'GE
Wbkk Kmjino Fib 2;i

N. Y.
J

I'zi" i'i'J"

Feb '06
il9' ll?'^; Jan •00

J

5S...1H37 K-A

f

v'li

Aug'05

121
7811.

09

110

Mar'O")
I'eb'Od

12 S

114

101

t

09

Low

VOL. LXXJIt.

JtO.\l>*<

Kan./e
Since

January

Hlf/tt

12,s:<4

1

J-

109»4
l-2'4

2i1 )fol<l S.H

AtK IjOw

i283i

J.J

PenHaoola Dlv milil Gs...ltt'2i M-8
Iii2) Wl-S
8t ti Dlv Ist u'olcl 6k

N

JJ

96

Sale

96

M-S 100 Sale 100
91 14
92 Sale
A-0
M-S 102 "2 104 103
J-J

96
100
92 -4
103

90!^ Jan '06

10 99 100 >«
93
21 87
103
S 102
90Sb 90^

A-O iid "sale 1161a ll«i3 317 114341174
79 12 29fe 78^8 34
787g Sale
7878
F-A
bDaeFeb cDueMar dDuoApr ADueJ'ly fcDae^g oDueCiot j;DjieNoT aDu«I>eo^«Optton8«J|»_;

WeelCs

N.Y. STOCK KXCHAN(^E

Week kndin" Feb

HK

Penn

23

^a.

J'Yidav

Sanye or

Jianqe
ntnce

Feb 23

Last Sale

lanuary

ASH Low

Hid

(toncinueu)

PlulaBaI& W Ist f;4a..lit4:< M-N
SoDdi Lewis 1st. g 4s...iy3t.' J J

UOVslU

KK<fcUaii«eii4.s.l!l44 ,n-s
Pensacolit & Atl uee L & N;isl.
iiee C C C €k si L
l!^a8t
Peo
Pek Uu Ist g Os....iy<!J
Peo

&
A

M-N
os lyJi J-D
OVJ-21

PereMarq— Clicto

M

VV

PM

^os... ....I'J'^u
flint cfc
ly'i!'
l8t consol gold 5s
Pt Haioii Div Islg Ss.Utay
4s.ly31
SagTusdo H Ist a 11 a
nee Penu KK
Phil B &
PhiJa <fc KuaUiiig cous 7s.iyil
Pine Creek re^ guar t)8...iy.i2
Pitts Cinife IS t L bee Peuu Co
Pitts Oleve & Tol kee J5 & O
Pitts Ft VV <te Cli nee Peiiu Co
19'i'.-'
Pitts June 1st gold Os
Pitts <fe L Erie 2d g 5s...aly'^^
Pitts WcKees <ft i' 6<>8 N V Cen
Pitts Sli & L E 1st g 58...iy4u
1943
Istcousol gold 5s
Pitta <fc West «e B <fe O
Pitts y & Ash 1st cou 58.192/
199
Heading Co gen g 4a
199'
Kegistered

W

A-O
AC)

109 ^ Tan '06

118

123'sJan'05

9334

10(p4Deo'0."i

<fe

nee

Pitts
<fc

Og

nee

<fe

116
110
112

1141-^

M

5s. .1947

J

118

110'.2ll01.i

Jan 'OH

Ill's 111'-^

A-O
J-J

JJ

Nov'9

Jan

120

II8I4.
lieH!.

98

"06

118

120

J'ly'97

116

100^4

Mfty'05
1013.
101
IOOI4 Jan'06

100 14

101

101 1^ Sale

lOSiu.

1001410014
100 lOi^b

101

109

Mar'05

76

Dec '06

89

'05

Jan

J-J
J-J
J-J

96

J-J

9312

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

A-O

1951 J-J

coug 68. .192s M-N
KCFtS<fcM Kyref g48l930 A-O
KC&MK<feBl8tgu58.192y A-O

W

M

M-N

19^2
1937
1937
193 7
S F Ist gold OS.. 193b

W1U&
Nor Pac nee Nor Pao
at P
BtP & S'x City nee C St P M <fcu
8 Fe Pres & PU Ist g 5s.. .194^
B A <& A P nee So Pac Co
8 F N P Ist sink g 5s.l91ii
Sav K & West nee Atl Coast L
Boioto Val
N K iee Nor VV

9Sia

10219 Jan '06
102 Jan'06
126 129 125 Feb '06
113 11312 II3I4 11314
98 la Sep '05
9912 Sale
10218
10219

I0214 Aug'05
H7
Sale" 85%
96 Feb '06
961* 96

loan

102
125

102
127

86

95I4

"li

122
87

1.J

100

88
96

Aug'05

125
Safe" 87

«7

87 'i

1

<fc

<fa

99
991a
8510 Jan '00
8078
82 10'

99 Vj Sale

A-O

109
137

llOH; 108i4Deo'05
140 1371a 1371a

112

113

140 May'02
112
112
116i8Apr'01

110

...

llO'e Feb '06
103 !« 103 Is

Seaboard Air bine g 48 ...195u
Coll tr leluiid g 58
1911
Atl-BuTii 3u-yTl8t K 4s.el933
Car ceui Isl con g 48. ..1941
Fla Cen ds Pen Isl g os.iyit
l8t land gr ext g Ss ...193i
Consol gold as
iy4o
Ghi<fc Alu Ky Isl con 5s 01945
Ga Car cfc *N o 1st gu g 58 192u
Beabife Koa IstSs
1920
Bher Slir <fc So nee
K <k T
8il Sp uca <fc u nee Atl Coast L
Bod Bay <fc so Isl g d»
iy24
Bo Car ifc Ga nee Southern
BoPacCo— KKlstret 4s. 1955
Gold 48 (Cent Pac coll). /cl94y
Kegisleied
A;194y
Istgu g 68.. ..1941
A<& N
Cent Pac Ist rel gu g 48 1949
Registered
194','

M

W

AG
M-!S
J

J

J-J
J-J
J-J

J-J

104 h:
103

103 la Sep '05
102a»Oct' 06

124 May'05
13612 130 Feb '06
13434 Dec '04
11912 Feb '00
11814120
*120
1211a Oct '06

J-J
J -U
J

A

Ist gOs.. 1910

F-A

Mex Paclstg58
1931 iVi-N
V G & N Istgu g OS. 1924 iVl-N
Hous E
W T Ist g 58.193;> M-H
<fe

<fc

Ist guar 5s red
1933 iVl-N
€$!
Istg 58 intgu.. 1937 J-J
Consol g 6s int guar. ..1912 A-O
Gen gold 48 uit guar. .1921 A-O
Waco<fe N
div Ist g 68 '30 M-N

TC

W

A-O
M-N
M-N

119

AO

113-'4

J-J

HI

111
109

M-S
J-J

JJ
JJ

II8I4 Sale

M-S

97

J-J

1171a

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

J-J

A-O
M-N
M-N
M-^
M-S
M-S
M-N
M-N

Sale

L

cfe

95«4

,

91
91
Sale
103*8 I0314 Jau'06
9512 9668 07 Jan '06

97
107
102

100
....

Ill

--J

112

112iall2i2

48

80 la 92
1021a IO3I4
96 14 y7-\

98 '2 Nov'05
109 Feb'05
09 "a Mar' 06
11219 Oct '05
i

93

9618 Sale
94 Sj Sale

96»9

97 14

94 14

9434

May'05
.1101* 1091a 109 "2

II6I4.

88
89
97 Hi
105'4
II2V2
107^4

loo's

100

99

14

Mar'03

8889

88^4

14

yy.Peb'OO
106
llliaJan'06
106

l07i8J'ne'06
107 '4 Feb '05
102
105 "a Feb '06
104
110i«.
111
111
Ill
111 Dec'05
98 H. 98'. 99 Feb '06
I'20i8.
127 la Feb '02

98
123
110
113

.

.

117
100

J'ly'OO

112

1123411284
'10734

110

A-O

Sale

'".".'.

•

\\i'

112

ibsij

Jan'06

114 1141a
1141211413

1131*

113

Nov'04

123

J-J

1161a
123

I22I4 1221a
114
1141a

Dec 'O:

J-D

Sale

l''9»8

116
1'J2

i^eb '06
Feb '02
Deo '04

A-O

lOJ

U9'4

Feb'05

12018 Feb'Ot.
99'al06'is loo's loo's
110 ...
11218 J'ly '04

iMar

113

114'4 11414

II412 Jan '06
1141a Jan '00
9734 May'05
113
118

.

J-J

112 112
12018 120»«

123
102
110

123i«

"2

100 •«

121 la 123 «a
102 102
10914110"

Jan'06

ilO
10612 Nov'04
11234 Feb '00

111
107

98

20

11234 II5I9

May'04
107

107

'

97=8 991a
911a 92

90
89
83 14 841a
1123, 113"*

93

93
104

12

106^4

104'al06i«
147 \

168^

10034101*4
123 126
117 1181a
9534

971*

iosiaiosi*

ifc C Co nee Pa KK
Utah Central See Kio Gr Wes
Utah& North nee Un Paciflc
cfc

Black

K

See

N Y

Kegistered

Cent
1955 F-A
1955
1934 J-J

FA

Vera Cruz <feP Istgu 4 I2S
-see Mo P
Ver Vai Ind <Sc
Virginia Mid See South Ky
Va <fc South w't Ist gu 68.2003 J-J
1939 M-N
Wabash Ist gold 6a
2d gold 58
1939 F-A
Debenture series

A

1939 J-J

Series B
1939 J-J
1st lien equip 8 fdg 5a..iy2I M-S
1st hen 50 yr g term 4s. 1954 J J
Det & Ch Ext Isl g 68. .1941 J-J
Dea Moln Div Istg 4s. .1939 J-J

A-O
M-S
St Chaa Bridge 1st g 68.1908 A-O
Pitts

Term

1st g 4s. 195 4 J-D

1954 J-D

2d gold 48

101

10278 106

10312 102^8 Feb'06

^

10138 Nov'06

110
116
106
91

Sale
Sale
7^34 Sale
101 Is
10834

90
86<«

•92

K6

112
110
106
90
77 14
102
92
108
97
85
97

108 112
115i2ll6»a
106 109

Jan'06
110 '4
106
91

SO

&~tH
731a

793, 591)
Dec '05
Apr '05

108

108

Jan'06
Nov'Ol
Fob'06
May'05

91>4

81

).09iailar'03

88 la Sale

Btiia

&-^^

syiasale

38 »8

89

'4

86
3418

16;

901a
41>«

Warren
.'6

19

97 \

95
93

96''h

94

100

U6I2 May'05
114 ^ Jan '06

l(,»8'-2

99»4

98
113

F-A *119'a

1941
Om Div 1st g3ia8
Tol & Ch Div Ist g 48... 1941

Jan '03

102

Aug'05

yaiaMar'o
90 -a Dec '04

M Ist gu g 4s

W

110 Jan'06
llli4MBy'03
1021a

iiyis
Il7iell7is
97
981a

am N J KK

13

10V»8-...

1111411114
101 118

ll8

P& W

Oct '05

110

Jan '06
Aug'05

99
...

119

119

119=1
119»B
11612 Feb'0(
12212 Feb 'no
'122 14
122 14 Jan '00
11334 114^4 1141a Feb '06
11234
1123. Jan '06

«fc

5s. ..1935

Feb '06

9312
98 12
113 Jan'06

A-O *112ia...

'30 FA
W N W Ist gu 6s1935
W&Min
J-J
O G 1st 58...

Western Div 1st g

873k 90
10434 105 4
106=8 106=8
102
102
113 11334

1171s Jan 'UG
97'
97

118

N

g

118

Feb '06

99

II414...
11534...
119'« 11958
117
12218

J-J

J-J
J-J

'4

^4

111
118

11712

A-O

J-

118

lU^-^ Dec '04
119 Jan '00
lu83g J'ly'05
109 "a Feb 05

J-J

Ml-S

High,

Jan '00
1935 J-D *i07«8
.....
991 t'758
1390 A-O
97 Sg
9II4
91 la Feb '00
1917 JJ
1st gold 48
..
96 la 9934 Tol
89 1*
86I2
89
89
J-J
Sale
Wprlieng3ias.l925
TolStLA
851a
84 Sal«j
84
84
1950 A-O
80 14 82
50-year gold 48
99 la Nov' 05
99
Tor Ham & Butt 1st g 48./il940 J-D
II3I4
II314
Ulster&DellstcoagSs 1928 J-D lis
93 Jan '00
1952 A-O
95
lat refund g 4s
105
13614 1371a UnPacRK& 1 gr g 48...1947 J-J 10434 Sale 1041a
1947 J-J
Kegistered
1041a 104 li
152
1911 M-N 152 Sale 149
let lieu convert 4s
112 11212
140 Dec '06
1911 M-N
Registered
109 '8 1 10 'g
Ore Ky & Nav con g 4s. 1946 J-D iOli^lOlia lolia lol"..
123%
Ore Short Line IstgOs. .1922 F-A 123 l'23i« 123
1031s 104 '4
1940 J -J 1-7 118 117i« li7S.
1st couaol g 6s
J-D
96^4
96
1929
"a
relund
48
Sale
Guar
961a
96 la Dec'Oo
1029 J-D
Registered
la
J-J
lOoHi
106
'06
Jan
ii)Ob
Utah <te Nor Ist 78
114 "a Apr '02
1920 J-J
Gold 58
136 136
1191811912

'06

91
103

J-J

Gila

H

1121a Jan

107 >9.

-U

F-A
F-A

A-O

lOOOg FebOi:
102 Jan '00

LM

W»b

Mortguar gold3i28../tl929 J -U
Through St L 1st gu 4s '54 A-0
Gal Har<fc B

110

J-J
J-J
J-J

1051-^

C 68. ..1910

VandaJia consol g 48

,VI-N

I05I4

106
102
112

Fails <fc Nor Istg 68.1939
Stat Isl Ky 1st gu g 4^28. .1943
Syra Bmg <fc N Y nee D L & W
'per A ol St L 1st g 4ia8..1939
1894-1944
1 Ist con gold 58
1953
Gen rettmd s r g48
BgeTergug 68.1930
St
rex <fc N O nee So Pac Co
2000
Tex c& Pac lat gold 6s
§2000
2d gold inc 5s
1931
La Div B L 1st p 58

Utica

J-J

J J
J-J

J-J

.

Ala nee

Kan &

<Jfc

<fc

129 la Nov'04
lis
118
106 Sep '04
113 Jan '01
lOJi 103'''fi Oct '05
8.-»4
8934 Sale
90

J-J

M-N

1

Low

Hiak

116
99
112

.

&N

nince

January

12'ia

General gold 5s

86

M-S

JJ

A-O

W

Tol

aih 39

Sale

J-ij

102

11134 11334

"86'

81

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

A-O
J-J

Spok

.-...

M-N

W
S

J-D
J-D
J-J
J-J
J-J
J-J

A»k Low

Bid

110
1921
1121a.
1920
II&I4
1936
114
1936
Guar stamped
Ist cy gu 43. .1924 F-A *9308
O <fe
*113
West N C lat con g 6s. .1914 J-J

92>a 94112
122 122

Jan'06

122

J-J

J-D
J-D
A-O
194b A-O

Kegistered.
Ist guar gold 6s

9ih
123

J-J

OSi^j

Virginia Mid ser
Series D 4-58
Series E53
General 5a

99 K, 100 "a

lOmNov'Ol

A-O

5-year gold notes 4'i2..190o5 J-D

St Loais So i>ee Illinois Cent
l8t g 48 bd 0118.1989
St Li 8
2d g 43 inc bond ctl8...piy89
193^
Consol gold 48
Gray's PtTerlstgng 6s 1947
St Paul <fc Uul nee Nor Pacitic
BtPaui
<fe Man 2d 68.. .1909
Istcousol gold 6s
193
Ke«i8tere<l
1933
Reduced to gold 4 "as. .1933
Kegistered
1933
1910
Dakota ext gold 6a
1937
Mont ext Ist gold 48
Registered
1937
EMumlsldiv Istg 68. .1906

106i«Oct'06
100 Feb '06

108 >a.

Southern Pac Co—< Continued
Morgan's La <fc T 1st 7s. 191
1920
1st gold Oh
1907
No of Cal lat gu g 6s
iy3»
Guaranteed goldSs
Ore & Cal 1st iruaj g 5s. 1927
A Pass Isl gug 4s. 1943
80 P or Ar gu Ist s 6s.. -cl 909
cl910
1st guar g 6s
S PoJCallst g68C&D 1900
IstgOs series E& F...1912
1912
Istgohl 6s
193/
1st con giiar g 5s
.1905-1937
Stamped
SPacotN Mex Istg 6s. .1911
So Pac .oast 1st gu 4e g. 937
Tex&NOSabDivlst g68.1912
1943
Con gold 6s
1994
Southern— 1st con g 58
1994
Registered
Mob & Ohio coU tr g 4s.. 1938
Mem I>lv lslg4ia-58...1996
1951
St Louis diV ist g 4s
1918
Ala Cen R 1st gBs
1948
Ati <fc Danv 1st g 4a
1948
2d 4a
Ati & rad Ist g guar 48.1949
1916
Col & Greenv Ist 68
E T Va& Ga Div g 5s. .1930
1956
Con 1st gold 6s
1938
E Ten reor Hen g 68
1922
Ga Pac Ry 1st g 6s
Knox <fe Ohio lat g 68... 1925
1915
Rich <fe Dan con g 6s
1927
Deb 68 stam pert
Rich & Meek Ist g 4s. ..1948
1919
So Car & Ga 1st g Sa

Hanqe

Week's
Kange or
Last nale

Price

yriday
23

I'eb

50,

1

120 OcfOl
112 12 Dec '02

.

M-N •11415
J-J

Dec '05

114
137

J

A-U *108

K C Ft Sifc M

Kor Div i8tgold48
Minn Uuiou IslgOs
Mont C 1st gu g 68

ll.S

P

1941
Rutland 1st con g 4>us
Og&lj Cliaiii Istgu 48 g.l94«
1949
4s...
Rut^Cauad Istgu g
nee Pure Marq
'I'us ds 11
Sag
..1947
tJo& Gr Isl 1st g 48.
Bt Law<& Adirou Istg 6s. 1990
lyyc
2(1 gold (is
St L <fe Cairo nee Mob <te Ohio
M
P
nee
Bt L i& Iron Mount
St L K C & M nee Wabash
KK
ot
St
L
A
Br nee T
Bt h
8t L & S Fran 2d g 68 CI B 1900
lyU6
2d gold 6s Class C
1931
General gold 68
193l
General gold 5s
8t li & S F KK cous g 48. .'90

Refunding g 48

loy \

BONUJS

STOCK EXCHANGE
Week Ending Feb 23

N. Y.

SA&

Feb'06
llOkiJan'oe
111"-^

N Y Cent

Southw Div Istg

109

Apr '02

109
118

107

^

Bocli

ttiQh

110>2Sep'04

113»4.
127 i-j.

Jersey Cent coll
Rensselaer <fc Sar nee D & ti
Eich <& Dan nee boutli Ky
Eich <fe Aleck nee southern
Rio Gr West 6ee l>en <fc Kio Gr
Rio Gr J unc 1st gu g 6s...l9oy
194(1
So Isl gold 4s
Rio
194u
Giiarauleed

Rome Wat

L010

F-A

gis-.-Uiol A O

B K

Hiah

lOOlj

UN J

2tts-oltl4'^8

439

Bond Record— Concluded—Page 4

]Peb. 24 1906.1

10912 110
looifl 10234

89

S7'2
yy'8

nee Del Lac <fe VVest
Waah Cent nee Nor Pac
Wash O &
nee Southern
VVest Maryland Istg 48... 1952 .A.-0
1962 A-O
Gen <fc conv g 48
WestN Y<fa Pa lat g 58. .1937 J-J
Gen gold 3-48
1943 A-O

W

Income 58

rfl943

88

88 14

117

Feb '06
Feb 00
Jau'06

88
Sale
7414 Sale
74
117'^ 117 la
97

Nov

<fc

.

.

104
110

1051a
111

08

99 >,

.

Wheel liiv 1st gohl 6s. .192b J-J
Extends Imp gold 5a. ..1930 F-A
RK l8t consol 4s
1949 M-S

20-year equip a f oa ...1922 J-J
Wilkes <fc East See Erie
WU & Sioui F See St P il <fc M
SVisCeut 60-yr Ist pen 48.1949 J-J

97

30

yys West No Car nee Soutli Ky
W VaCent<S> P Istg 6s. .1911 J-J 1071*...
106 106
lU-alUia Wheel'g L E Ist g 5a. ..1920 A-O 114 1143*
109

"a

9234 Sale

100
93

110 Aug'Oi
114 Jau'iK
1121a Fob '0
lllia Aug'05
y<!-'<
92
102 >4 Deo '06

9334I 9314

86 14
69

7

iWia

30

30
114
22
I

8S«8
76»4

11713
97 »8

117
97

114
la

1121a

14

91

931a

22(1

93

96

M1SC1EL.I..ANEOUS ItONUai—Conclu«»ed.
Alaniilnctiiriiiff &. IniluntrinI

Cent Leather 20-year g 6«.1925
Conaol Tobacco 50-yrg 48. 1S51

AF.
Registered 48
lOol FDistil Sec Cor cou V Ist g 58. '27 A.
Inl Paper Co 1st con g 68.1918 F-

Consol conv s t g 5a
1935 J.
Int St Pumi) lO-yr conv. 68 '13 J.
Kuickor Ice fChic) 1st g 68. '28 ALackaw Steel Ist g 5s
1923 A-

NatStarchMI'gCol8tg68l920 MNat Wtarch Cos deb 58. .1925 J.
Stan Kope <fc T Ist g 68. ..1940 F
income gold 58
1940
U B Leath Co 8ldebg68..1913 MUS KealtyA Iconv(iebg5s'24 J.
U S steel Corpl0-60yr58.<i'0:^ M1

Regl8t«red

Va-Car Chcm
*

April 1963 Mcol tr fts g..l912]A-

No price

Aliscoiloneous

IOH4 Bale

IOII4

78 >a 79

79
85

101'4 128 100141021a
8334
7938 13 79

Dec '04

86 >4 Sale
86
8O34 '25 H'i^i
108 10812 IO8I4 lOS",
1C7''8
95
9714 Feb'OO
9/
98
103 la
103 Feb '06 .... 101 »8
80
97iaOot '05
107 107 , IO714 107>4 '67, 10612
1B5
9212
92 Jan '(Hi
75 12 U 75
76
75

Dec '06
Feb '00
109 la Feb '06
16

1'4

1»4

10334 109
9712 97
98'<8
99 Sale
9914 Sale
99
lOlis
10114

96

Friday; latest bid and asked this

9708

99

«,

9914

HS'h
llOia

Adams Ex

col tr

g4s

1948 M-S

Am Dkifc Imp68 &'ee Cent N J
Am SS Co of W Vag68....1920
U'kl'n

FerryCol8toouag68'48 F-A

Chic Jo 4 Bt Yard col g 58.1915
UetMtfe Al Idgr incomes.. 1911
100
Hoboken L<b I gold 58. ..1910
103
Mad Sq Garden Istg 68. .1919
1083, Man Bch
Lgen g 4S..1940
92
Newp Ne Ship & D D 58 (il990
N Y Dock 60-yr Ist g 48. .1951
77
Provident Loan Soc4ias.l921
lia
212 St Joseph Stk Yds l8t 4 i-2a. 1930
107«8 10912 St L Ter Cupples Stat'n * Prop
Co Ist g 413a 5-20 year. .1917
66 97
991a
768 90 >4 'M\ S Yuba Wat Co con g 6»..1928
96 '4 99 'p Sp Val Wat Works lat 68.1906
l«l
101 la USRed& Bef Ist 8lg«a. 1931

Feb *0e
week, a Due Jan

HA

6

lOiiaSole

M-N

1041a

IO412

16

I03I4IO4S

10034 J'no'02

44

47ia

J-J

A-O
M-N
M-N
M-N

48
108
78

Peb'o6

46^4

J'ly'Oo

78" "ii'

60

Feb '02

Jan

'06

J-J

FA

M-8

•96
99

J-J

J-D
J-J

«0
96 S
99 Deo '06
lOOiaSep'05

961a

68

98

101»4

112 J'iy04
ll8i«J'ly'0O
990, 100

80

Dae Feb •Due May irDa«J'aa ADoeJ'ly pDueNoT #Oftloa

&»le

MS

99<^8alr

99^Ulll|

S

7

S

CRTOAaO STOCK RXCHA^T'lE-^tock
.\'JUCh\—HJHH/:.SJ
i>a'.u)tui.i

J-eb

J?

•193»al!>5

AMD

,t/07l«<TV
J-rb :f)

'Jtifidait

1.'3

i;i3S2l99

l'.(3

hK FKICIS

LOWI-.ST SA

-^4

teb

J-eo V/

WASHIXG-

196

190

tridaii
J-eb .3

1 hiiTsdaij

\ieiiue.sitaij

195

190

TON'S

BIBTUOAT.
7>a

SO
00

4'.li4

•40
63

27
27
48'a 49
13
13
•43
45
63 >2 63 Si
•90
90 1<

43
03 h

•27
•66
•94 >2
28 Sj
•9b
•60

13
Si

•1-5

67
O'jin

•94 'a

2H>2

ii8»ti

•28S!

loo

S'9

65

65

99
60

•99
•66

'66

"04"

29
70Sj

70S)

80

-80
-28
-65
•94 Sj

29
100
60

Do

lor jTe.iout.
YearfJH')'',)

jyiMi

Week
HiQheal

Sharei.

193
39f

lOO
100
lOO
100
100

pref

Uamie

Jiange lor year

100
100

prcl

Do

Fob 19 200

Jan 6 180

5
7S2Febl7
Si Feb
Feb 5 283«Jan 2
48S2Febl9 61 S Jan 8

25

17.1

250
235
4

11

Jap

45

Fob 21

1314 K«<1>20
45 Ffcb-1
OS Si Fob 9

•.'.".

<fc

W

67

94
29
•99
•66

Jlir/ kett

/^naejtt

Ll ..100 2,248 54'.jJao 2
9ll7f
54 88 \ Jan 2 93SjFeb *>
Do pref
100
29
Metropol
H Elev..l«0 2,910 2'i'4Feb H 2U-«8Feb'-'0
271
70
09S2JM29 72'8J«Ji 13
Do pret
100
82
23:i 73
Feb 6 80 Jan 20
XorthCluo Street
100
515 26 Si Jtm 3 28 Si Feb ^3
2SS. Northwestern Kiev.. 100
300 65 Jan 4 07 Jan 15
67
Do prer
100
150 94 Feb 23 97 Jan 3
94 S( South Sirte Elev
100
29 Streets WStable C L 100
300 28 S. Feb 1
30 Jan 9
100
3 98
Jan 26 100 Feb 13
Do pret
100
60 West Chic Street
80 46 Feb 6 60 Feb 19
100

28 Si

07
95
•28Sj 29
•99 100
•66
60

KnilroitdH
Chic City rty
Chic CouHoI Trac
Chic Pass Uy
CUic & Oak Park

64 s Kans City liy

69 S>

30

SaUs
Of Ui*

Chicago Subway
13 ^ Chic Union Tract

29"

82

ST()t:ii.S

CHICAGO STOCK
KXCHANfiE

50

*48Si
*12Sj

46
64
90
29

90

80
30
67
95

7

27\

27

l:t'.

63^4

64"-.

7

7Si

27

lVi34

90«8 9(»\
293»
70'v

•94 "a

•JS'2

•7

27

13»4

'.'9 >,
29
70 Hi 70 >2
70
ao
SO
x80
28
28
28

30
07
05

7»2
a?*-.

45
63

-'9

29

•2'J

•7
•26 "a

7>.,

•OHi

7>v

•27

^ocori-Daily. Weekly and Yeirly

Jan 205

Oct

734 J.ia

4

J'ly

10

J'ly

28

Deo

40

Oct

S734
13^e

Aug
Feb

Keb
Sep
93 V, Sep
28 S: Oct
59Sj Jan 73i4Sep
55 J'ly 99 Feb
21 Mny 26 De«
60 Mar 08 Oct
20 J'ly
30 Jan
82 Si Jan
•20
Jan

51

00

Au(

9(Ji8Mi.\ luo

Aug 30

27

-Sep

Dec 103 >4 Mar
Feb
J'uf 72

'J6

40

niucelioiieo u a
AiUs-Chalmers
100

Do

10

10

10

10

68
125
135

6'; Hz

•116

116

1^5
135

•

'

66

10

10

67S2

68S2

116

126
135

'

e^s

9'b

125
136

116
'

39
106

39
112
Oo'i

60

56 Sj
'38

39
112

a06

39 H,
112

63

-60

63S2

"15

*15
-1

1^4

1

163

163"

lt-3

67^4

08^i

*3S
106
*eS

l^o
7^,

163
59
130
116

59
IJO
115

1.J

68

112
63 S)

6*4

162

162S2

58 Si
120 130

59^4

139
68 S,

138
67

1^,

Last Sale
Last Sale

11.

7»2

129

11334

135

Xov'05

il^4

7979

Last Sale
68
68
116'4ll7
87^ 88
119 119

(i8

117
•sevz «9

•119

120

-'•^Sj

119

79^6
J'ne'04

I0412I04I2
i'^5

*2»«
14>»

1434

2 "4
137,

39

ay 1-2

39

23(.

10415;

2I4

2

1418

14\

39

39 S2

2

18

120^4

Do

pref

Do

pret

BONU.S

Si

Clue Board of Tra<le 4s ...1927
Chic Consol Br & Mlt68
Cliic Consol Trac4Sj8
1939
Chic Edisou debent 68
1913

Week^s

Range

Last Sale

Ask Low

Bid

100
103

100
103

J-D

10214

J-J

J-D

69Si

J-J

or

Mil Klec Hy 5s
1919
Chic Piieum Tool Ist 5s .al921
Clue Rook 1 & Pac BK 48.2002
CollatTru.st e 5s
1913

J-J
J-J

88

M-N
M-S
Commonwealth Elect 5s.fcl943 M-S
Illinois Tunnel 58
1928 J-D
Kans City liy <fe Lt Co 58.1913 M-N
Kniokerb'cker Ice let 58.1928 A-O
lAk« Street El Ist 58
1928 J-J
Income 5s
1925 Feb
Metr
Side El Ist 48
1938 F A

W

ExtcuHion g 4s
Norrii Chic St Ist 58
Ist 58

1938
1906
1909
Refunding g4SiS
1931
No Ohio City StRy 4Si8.1927
NorlliWest'n El Ist 48. ..lull
Ogden Gas 5.s
1945
Pearsons-Taft 58
1916
4-40S B B B
1920

4"40s Series C
4*60s Series E
4-SOs Series F
Peoiile'sGas LcfeC let 68. 1943
Refunding g 58
1947
ChicGa.s Lt&C 1st 58. .1937
Consumers' Gas 1st 6s.. 1931)
Mutual Fuel Gas Ist 58.1947
South Side Elev 4 SiS
1924
Swill <fe Co 1st g 5s
1914
Union El (Loop) 6s
1946
Union Pacihc conv 48
1911
U 8 Brewing os
191(;
WealCluc St Ist 58
1928
Tunnel Ist 68
1909
Debeut 6s
1914
Consol g 5s
1930
West Div City Ky 4 Si8..1932

Sale

103
59
104

8714

79
80

106

>4

99

10534

100

100

Jan '06
Dec '05
Apr '04
Dec '05
Jan '06

88
Nov'04

Apr '04
10534 Feb '00
93 Jan '06
100 S, Feb '00
9734 Dec '06
99 14 Feb '06
10 May'Oo
9434
94Sj

9434

88 Si

88

J-J
J-J
J-J

^90

il-N

A-O
M-S
J-J

J-D
M-N
J-J

A-O
M-N
M-S

M-N
F-A
J-D

M-N
J-J

6DaeJuna.

1

79 'a Feb -23

l,43i
li;

100
100
100
100

L'45

7»'?8Feb23

Jan 17 47 Sj .Tan 31

66>4Jau 2
li3SiJan 4
78 Jan 5

11 115

,1
8
11

'-2

89
Feb'Jl 120

J'ne

Jan
Jan
Jan 15 125 May
Jan 9 95 Apr
hcU
134 I2 Feb 145
Jan 23 55 J'ne 67

Ads
Not

Feb
Feb

42

Not

76

Oct

44 Si Mai

48

Si

Aug

Jan
Sep

2

14

23

Oct
Oct

11
63

2

Feb 6 5234 Aug 67-»4 Deo
Feb 5 11034 Aug iJOSiMar
Feb 21 41 Jau 80 "4 Deo
Feb 7 110 Jan 120 .)'ne
534 May
5
Apr
9908May 11034 Apr

100

Nat St'k YdslOO

Range

89

Sale

90

9 2 14 Sale
9438 Sale
Sale
lOOSj
99=3
99*8
t99'8

100

January
Jiigh

100 100
102S!l03i*

104 104
1033» 10334
9534

9634

87

87

80

Continental National.
Cook Co State Savings
Corn Exchange Nat...
Drexel State
Drovers Dep National
Federal National
First National
First

105 Sj 105
91Sj 93 Si

100

America, Bank of
Bankers National ....
Calumet National
Chicago City
Cliioftgo Savings
Commercial National.

Nat Englowood..
Foreman Bros B'k'g Co
Fort Dearborn Nat

90

100

98 Sj 99 S.

93 Sj
88

Hamilton National
Hibernian B'k'g Ass'n
Kaspar State Bank
Mauuiacturers Bank..
Milwaukee Ave State.
Mutual Bank
Nal Baukot Hepubllo.
National Live Stock...
North Side Btat« Sav..

Oakland Nation.al
Peoples Trmst & Sav

90

92 >4
92 "4
9433
94 Si
100
100
100 Sj Sep '06

Outstand- Surplus <£
ing
Jn
Profits
1903
Stock

NAME

Since

92>4
9334

89

92I4

94 S
100 14

Pullman Loan

W

fc

•200.000

000.000
600,000
8,000,000
100.000
600.000
1,000,000
500.000
1,000.000
200,000
200.000
250,000
250.000
2.000.000
1,000.000
50,000

&

Capital and sorplos to be increased.

$'250, ,000
1,112, ,356
31, ,000
86, ,607

hl2, 1-20
1.850, ,750
1,219, ,798
3, ,422
3,781, ,437
16, .089
282, ,698
50, ,888
6,374, ,740
117, ,917
630, ,'(599
267, ,118
15», ,060
1,062, ,653

1.285 ,961
5, ,725

fc50, ,471

200,000
250,000
260,000
300,000
200,000

24, ,171
63, ,144
84, ,448
171, ,13
37, ,066

1,000,000
250,000
200,000
200,000
3.000.000
2,000.000
000,000
200,000
1,000,000
4,000,000
250,000
200,000

740, .824
112, .022
24, .777

Sav..

200,000
3,000,000
750,000
1,500,000

600,000
1.000,000
1.000.000
200,000
200.000
ol

30%

IHvideniX Ke^ord

m

1904

Last Paid

Period

Beoel ver ap pom t6dFebl5,'09
6
8
V-J Jan '00, 2
'ia'

8+6

"12"

"12"

8

12

8
6
12

6

6

6

8

8

Began basin
12

v?

6+4

Priv ate Ba
6

6

Jan Jan
J-J Jan

Q.J Jan
Jan

(J-J

Q-J
q-3
Q.J
Q-J

Jan
Jan
Jan
Jan

Got
Q-J Deo

esa

^'

Jan

Q.J Jan

'06, 8
'00, 6

00,
00,
00,
06,
00,
00.
1 6.

3
2
1>«

3

m

2

1905

05, 3

06.124
'00,

14

j".J ,fan""'66,"4"*

34, 979
13, ,251
274, ,993
56, ,145
1,023, ,142

fcSO.OOO

Prairie National
Prairie State

South Chicago Savings
9934 Jan '00
9934 99;'4 State Bank ot Chicago.
9934
9934
993,
Stock yards Savings ..
99 Si
100 Sep '05
Union Bunk of ChiUHgo
100 Aug'05
100
Union Slock Yds Stale
12314 J'uo'05
Amer Trust & Savgs..
106^4 106 "4 100 "a Oct '05
Central Trust Co of III
10734
108 Feb '00
107 108
Colonial Trust & Sav..
I05I4 lOo^f Drovers Trust <fc Sav..
106 105 '8 Feb'oo
tlO.ii-jSiae 10.) Si
103 ^
103 Sj 103
First Trust <fc Savings
103.S,103«8 i033k,Feb'06
103:«6l05V Illinois Trust & Sav..
102 'e Sale 102 '8 103
102'el03'j Jackson Trust ifc Sav..
105 Is Fob 'OO
106 105 S> Keu'wooil Trife Sa\-ing»
114 Nov'04
Live Stk TrA Sav Bk.
81 J'ly '04
Merchants' L'ucfcTrCo
lOOSjSale 100
100
100 lOlS, Metropolitan Tr & Sav
OS Si Sep '05
Northern Trust Co Bk
85 Jau'OO
76
Hoyal Trust Co
85
80
ei
8 1 »e 35 8.)
8434 Union Trust Co
93^8 Feb '00
94
93^8 95 S' Western Trust & Sav.
90 Sj Jau '00
Side Tr <& Sav Bk..
96 Sj 90S
added to all Chicago bo
price s
Woodlawn Tr<fcSav Bk

ADueJoly.

$250,000
2,000,000
100,000
500,000
k 500,000
2.000,000
3,000,000
60,000
3,000.000

..

West'rn Stone Co 6.'20 68.1909 A-O
Note.— Accrued interest mus t be
n Also pam 12''o in Doc, 1903, iu stock of First Trust & Savings Bank.
11 luoliides special dividend
• Bid and asked prices; no sales were made on this day.
i No prioe Friday; latest price this week.

• DaeDec.31.

35 115 Fob -'3
78 11334 Feb 23 18
2,946 134^4 Feb 21 ;47
1,863 63S2Jau S 71^4

19

S.'

J-J

Oi
139

Mar

Jaa
Jcu
Jan
172 Feb
5814 Deo
143 Sj Feb
118 Deo
1
7

Ohioago Banks and Trust Comnanies

A-O

M-N
J-D
M-S
F-A
M.N

16.5

Oct

"-i

100i<8Deo'05

.M-N
.M-S

Jan 16
Feb
153
Feb 9 s•^

7

'i

Jan 20
Jan 5

Aug

125

High No. Low

ftl926

Cliiccfc

H\ Feb
375 159

490 55

J'ne

10434

A-O 103 Sj.
103Sj 103Si
Chic Auditorium 1st 68.. .1929 F-A
96*4 Jan '06
Clue Dock Co 1st 48
1929 A-O
loo's
Chic No Shore Elec 6s
1912 A-O
87 Feb '06
1st gold 5s

34

Mar

JaA

10434

LattSale

Prtc«

lYidav
Feb 23

Amer Biscuit 68
1910 F-A
Amer Strawboard 1st Os.. 1911 J-J
Oaas Ave & F G (St L) 58.1912 J-J

16

Sj

35 Oct 40
Jan 25 108 Jan 25 105 Mar 112
Feb 6 04 Feb 6 50 J'ly 70
148 Sj Feb 150
Feb 13 16S2Feb23 10 Jan 10

J'ne'05 People's Gas L<fc C'kelOO

OMca^o Bond Record
CHICAGO STOCK EXCH'GE
Wkek emjing Feb 23

25

9(i>8Jan 105

10&3, Swift* Co
100 1,467 10114 J»n 17 106 Sj Feb 6^ 101 Dec 114 Jan
Feb'oo The Quaker Oats Co. 100
46 Jan 165 Deo
125 Feb 16 152 Si Jan
195 103 Jan i 10634 Feb 15 86SjJan 109 Not
104
Do pref
100
Un Stock Yds(SoOm)100
Last Sale lU^'e" Dec'b4 Union Ban & P Co... 100
Do pret
100
2I4
2SjApr
2^4 Jan 12
138 J'ly
[Juit'd Box. Bd & P ColOO 2,807
2>8Jaii 2
2Si
14>« 14Sj
1434
8 Ane 10 Deo
15
Do pret
100 3,515 13''8Febl9 17 14 Jan 20
581 37 S) Jan 20 89 S> Feb 17 23 Feb 41 Aug
39 »4
39^4 Western Stone
luo
38>a 38'4
t This is new stock.

104=8 105
104 106
•125 135
125 135
l04Sjl04S2 103 Sj

14 12
39I9

64

47

Pullman Co

aHOiSz

108

pref

St Louis

1U6

101
Janll 106 -2 .Tan 3
17 7gFe<j2l 17''8Feb21
36 Jan 23 40 Feb 6

May'05 Page Woven Wire Fence

5^4

Last Sale 101^
IO4I2 104^4

1.0
156

Chic Edison
100
Glue Pneumatic Tool. 100
'Jhic Telephone
100
Ohio Title & Trust.. .100
Diamond Match
100
niiiioi8 Bnckt
100
Kaus City Stock Yds. 100
Knickerbocker 1 ce. . . 100
Do pret
100
London & Clue Conir
Manufacturers' Fuel

MU& Chic Brew'
Oct '05
Do pref
08 Xational Biscuit
116
Do pref
8J
Xational Carbon

*87

Last Sale

•105

100 115

Dec '04
Feb '00 Masonic Temple

OS
116

67 S2 68 S,
68 Sa 68"^
117
116>4ll7
89
89
88
89
116 115 *119 I20I4

'116

Si

137S2
67 S;

67

Last Sale 1 ?
Last Sale U
Last Sale 4?
67'4

1(2
58
115
116

115

115*4 1153^
134^4 13(-',
67 »4 67^4

Do

b'ob'06

^>^4

5sia

Last Sale

117

1,830

Nov'Oo ChicBrew'K&Malt'g

1

162

162

162
69
*115

14 "8 Apr
8»4 Dec
9Si Janll 11^8 Jan 20
66SjFebl9 72 Jan 25 00 Jac 73 Sj Apr
Feb 9 115 Feb 9 76 Jan 110 Deo
136 Jan 17 136 Jan 17 r25 Feb 134 De«
1/0 54 Jan 13 5734 Jan 3 38 Jan 5934 Sep

695

100
100
100
100
100
100

16H Chicago Auditorium

I6S2

•1
•634

IS,
7 Si

115'allt5'-4

J39i2l4<-"-i

67

•1

100

pref

10
Ameriean Can
67 \
Do pref
115
Amer Ra<liator
Feb'ot
Do pret
66 s Amer Shipbld;.'

Feb 'Of
Last Sale 106
Do pref...
Am er Straw Board
•38" "46"' Booth (A) cfe Co .. .100
Jan 'Ot
Last Sale 108
Do pref
100
FeD'Oil Cal & Chic Canal cfc DlOO
Last Sale 64
Mar'Oo CentralTrust Bank. .100
Last Sale 158

177e
39it

•15

"15

-634

•llSi^illOV
1401a 142

Last Sale U6

56^)

177,

39
•106
*60

9''e

67 Si
116

20. 692

2.147, 088
913, 946
527, 986
66. 051
1.008. 686
6,290, 568
60, \i'U
21, 44H
3, .726

6

Feb
Jan

6

Began bus In

Oct

Jan
Jan
Jan
Jan

6

15
"6"

12+3
6
6

New Bank
"s'
8

8
5

^-J Jan
Q-J Jan
Q-J Jan

Q-J Jau

Began

Majr'l,

'6'

"7*
4
6

1

6
6
'is

6

12+4

'06, 1
'06, 3
2. 1905
'06. 1>«
'06, 6
'00, l"!
'00, 3

'00. 2
'06, 'i
'06, 1
'06, 2

190

Jan
Deo
Q-J Jan
Q-J Jan
Q-J Jaa

Q-J Jan

I4

'06,
'05, 2
'O'o,

'00,
'0\i,

W

2'«

14

"'06," 3"'

Began Jan

3. 190
Incur porale d M aroh, 1905
Q-J Jan '00, 3
12
12
Q-J Deo '05, 3
6
6
Q-J Jau '06, 3
8
8
F-A Feb '06, S
4SJ2, 602
6
6

3,731, 3ei
285,
1,511, 992

680, ,813 ""6
243, ,838
2 ,915 BegMi
20 ,015 Beijan

"o Q.J Jau
bnalu esa Sep
Mayl, 190

deolarod Aug, 10, ItfO^

5.

14

'06,
5, 10O»
i

Feb.

L'4

1000

Business at Stock Exchanges
AT THK NEW YORK STOCK EXCHANGE
TRANSACTIONS
^^^
UAILY. WEEKLY AND YEARLY

Yolume

oi

Sloclcs

Week pndina
J'ebruary 23
Shares

iyi'6

RaUroad &c
Bonds

>),S5,669

Monday

1,065,641

95.i;<8.100

Tuesday
Wednesday.

l,iy'!:.'129

...

l.Ooy.TTy

Tliursday...

624,613

Friday

96,P97.900
92,795,400

Sales at
Stock

New York

Exchange

D S

Bonds

Bonds

56,638,800

$1,195,500
2,2 17,000
l,717.0i>0
2,027,5t>0

$274,500
348.000

.i;2o,M)<)

12,500

268,000
>50,0O0

5,000

$46,000

1905

January

1

1P06

to

'i3

1905

41,128,910
66,767,9.8
6,948,966
4.930,131
Stocks— No.sliares
$3,S03,2O8,50«
$432,422,100 $663,080,150 1^,162,653,950
Par value
iti300,-<50
$112,700
$2,600
$5,800
Bank shares, par.

BONDS

©overnment bonds
State bonds
EB. and mis. bonds

$46,000
1,34>^.600

8,900,000

$3,939,500
21,404,600

$429,100
19,196,000
129,211.100

.$29,000
31,37a, i(K)

206,656,500

104

A-O
i

101

98
40
97i.i

95
.S8

34

90
109

Newark Consol Ga«..100
1]Ooug5s 1948
No Hudson L H &

S-P

Pow—

OS 1938
111

A-O

&

>fc

91
111

no8
29
73

no5
',

6
34
76

Emp & Bay Stale Tel 100

98

100

9012

91
138

100
100
TJGoldcfc Stock
100
T«leph
River
Hud.sou
1[NY<fcN J Teleph...l«0
llNorthwesternTeleg. 50
25
Pacific <fe Atlantic
TiSoutliern & Atlantic 26

135
115
78
47
120
93
154
124
80
101

n<his(rinl and iUiscel
Con.s Ry Ltg&Refrlg.lOO

63
'94''

158
128
85
105

Bid

6\

Ask
7
2>4

Conaol Rafcber Tire. .100
Debenture 4s
Cons Storage BaltorylOO
Corn Pr Ref rora (w i)100
Preferred (wh is).. .100

30

34

27

11
271*

8512

86

25
Cramps' HliifcEn BldglOO
151-2
100
llCrucible .Steel
77 'e
100
llPreterrou
lol
Cuban Us oi 1896
HDiamoiKt Match Co. 100 141
!H.
1
Dominion Copper
bh.
5 t
Douglas Coiiper
25
100
Electric Boat
60
100
Preferred
h
Electric Lead Reduc'n.50 t

SO

50
100
100
Preferred
Electro-Pneum'icTranlO
100
Empire Steel
100
Preferred
Cliemical ..100
II General
100
1) PrefetTed
1
Gold Hill Copper
Preferred

106H; Electric Vehicle

Telephone

^AxQCrTeleg:* Cable 100
^Central & So Amer. 100
Commer Vn Tel (N Y).25
Franklin

42
102
110
43
33
137

Hj

.100

Natcfc
J-n
iKt 68 1926
Pas Gas<fc EleclOO
1949.... M-S
11 Gouk5s
Bt Josepli Gas 5s 1937..I -J

Tvlesv

Feb

60

MjullB' n Ga.s 6s 1926. A-O no6
Kewark Gas 6s 1944. Q-J {136

Pat

$8,960,000 $1,348,600

Ask

Bid
50

TftOkson Gas 5s g '37.A-0
100
Kaiwifi City Gas
100
TTLfolcdo Gas
100
KPrete^ed
ULtfty'oGaslst6s"24.M-N
LogAWabV l8t6s'25.J-n

liO&IudC

20^1.100

1,773.000

Week ending Feb 23
1906

<»as !S«ciiritics
tndiaufliiohs Gas
lat R 58 1952

"

HOLliDAY

4,930,131 $432,422.100

Total.

State

Par value
$90,951,900

Saturday

441

THE CHRONICLE.

|

Greene Con Copper... 10
Greene Consol Gold... 10
Gveene Gohl-Silver.... 10
GugceuheimExplo'u.lOO
Hack'n sack Meadows 100
Hackeusaok Water Co^
Ref g 48 52 op 12. ..J-J
100
Hall Signal Co

8

15»,

103
142

"32
t>

30
67
.'*

t

14
16

16
18

7

9

39

43
85
107

hO
105

»16
26'.j

3

26 's
3'-4

6^4

"25'

?93
90

305
30

94
95

Havana Commercial. 100

100
Preferred
Companies
28
Havana Tobacco Co. .100 25
35
38
100
Preferred
list
lucaso
C
See
Co
Edison
Chicago
PHILADBLPaXA
78
80
AND
J-D
'22.
BOSTON
June
1
1st
58
THE
g
^KingsCo El L&P Co 100 alGti 170
DAILY TRANSACTIONS AT
Mill
Hecker-Jonea-Jew'l
106
102
50
El
Co
(Prov)
EXCHANGES
Narrigau
no
J 06
M-S
6s
1922
Isl
NY&QElL&PowColOO 60 58 Her'g-Hall-Mar,new.lOO 30 40
85
75
100
Preferred
PMladelphia
Boston
Uoboken Landife ImplOO 200
60
UnitedElectriootN JlOO
Week ending
M-N noi
Has 1910
7712
773.S
J-D
{
48 1949
Bond
Unlisted
12K2 13
Feb 23
Listed
100
Bond
Houston Oil
Listed Unlisted
sales
shares
60
52
iy06
shares
100
Preferred
sales
shares
sliarex
Ferry Companies
110
Hudson Realty
\:0i)
$45,100
80
13,911
pref. .100
21,348
Iuger.soll-Rau(i
6
$57,000
3
10,»01
stocklOO
Ferry
34.875
Saturday
66,900 Brooklyn
19,637
Internat'lBankmgColOO 130 145
20,598
35,000
16,441
NY 1st 68 1911. J J no3 105
53,400
Monday
13 14
13
H OLIDAY "58',3C>0 N B<fc
Int'n'l Merc Marine. 100
72
38,500
15,493
55,285
Y & E B Ferry stk.lOO 67
Tuesday
34
12,086
100
341a
26,79ti
Preferred
92
21.000
90
14,090
M-N
43,908
Ist 58 1922
Weduesdivy .
83
85
tr
deb
4
>2l922op'07
Col
.. HOLl DAY .
'"'
'46.
no8
J-D
5s
Thursday
"si'soo N y €& Hob con 1946 .\I-N noyHi no's International Salt
42
10,629
100
19,750
19.900
""6,i'l6
'27,224
Hob Fy 1st 5s
Friday
72'..
74
1st g 5s 1951
&
N
J 2d OS 1946. J-J noo
N
Y
6
9
$222,100
100
56,263
Silver.
luteruational
88,492
63,044 $171,400
NY'' & So Blyku Ferry&St
214,692
Total.
50
54
100
Preferred
98 101
Tranep 1st 5s 1906M-N
no
no7
J-D
1st 68 1948
65
48
10th & 23d Sts Ferry 100
78
82
Lackawanna Steel... 100
94
1st mort 58 1919.. .J -D 5 90
141*
20 1 14
29'2 t29'8 baustou Monotype
Ferry stock .100
iruniou
19212 195
lusur.lOO
Mort
i^awyers
98
Outside Securities
96
Hj
M-N
1!lst5sl920
45
TiLeh& Wilkesb Coal.50
on a preceding page.
130
liailroatl
100 115
Lord & Taylor
A Weekly Review o.f Outside Market will be found
lu6
100 103
Preferred
Alb & Sueq 40yr S^s cts 110 112
130
155
(P)
pref
...100
HLorUlard
pref.lOO
&
St
L
Street Railways
Bid Ask Ohio Peo
Street llailways
Bid Ask
60 14
60
..lOo
Mack<y Companies
2
Deposited stock
See C hicago list
Lake St (Chic) El
7413
74
100
Preferred
2
Undeposited stock
IILouisv St58l930..J&J ni2'.2
NEW YOEK CITY
10
Madison Sq Garden. .100
100
Prior lien g 4 HiS'30M&S 106
Lynn<feB03lst6s'24.J-U n09Hi 112
34
32
75
M-N
2d
Gs
1919
88
Bleeck St<fe Ful F atk 100
85
J&J
1930.
6s
37 14
Con mtg g
New on Rys& Light.lOO 37
96
93
10
13
1|Mauhatl Beach Co. 100
1ll8lmorl48 1950 ..J-J
15
Income 6s 1930
84
83
100
Preferreif
245
334
20
3»b
Manhattan Transit
HB'y & 7th Ave stk ..lOO 240
91^4 Chic Subway. See Chicag o liat
i 901-2
New4Hjs
IOII2
IO511;
...J-J
13
17
112dtnort 5s 1914
Mex Nat Construe. pflOO
North Chic Street See C hicago bsl II Fort Worth <fc Denver
5
3l6
Securities
Mine
73'2
Con 68 1943 See Stock Exch list
100
City stamped
Pub Seiv Corp ol N JlOO 122 123
110
11 "i 12
10
337 V Mitchell Mining
B'^way Surl Ist 58 gn 1924 ?108
75', Norlli'u Securities Stubs 325
Tr ctts -2% to i3% perpet 75
360
8
Mouongahela R Coal. .60
flOirt'l Orosat'u stk. .100 S40
38
36
50
Pitts Bess & L E
notes
gold
trust
6s
Coll
"23 i^
120
ni6
...M-N
23
60
Preferred
73
UlstM 6s 1922
70
50
Preferred
M-N } 95 'a 96'..s
1909 optional
209
Boston
Cousol
.6
OenPkN&ER Stk.lOO 205
&
Mont
Seaboard Air Line—
31
100
Ry
ersey
St
North
J
180
170
116
Chr't'r&lOthStstklOO
Mortgage Bond Co... 100 112
Ooatr 531907 op. ..M-S 100 101
81
M-N i 80
let 48 1948
100
osier Safe Co
_iol& 9th Ave 5s See Stool; Exch List
See Ball Exch Ust
SaaboardCo
«1
83
Cona Trac ot N J . . . 100
100 108 115
Nat Bank of Cuba
90
i)ry D E B <fe B—
60
.TOO
Southwestern.
&
109
Va
no8
J-D
Ist 5s 1933
113
163
100 145
Surety
National
iflst goldSs 1932. ..J-D 109
New'k Pas Ry 58 '30J-J ni3 114
100
97
46
35
20
Slisccl
Central Coal
and
^Iscrip 58 1914 ...-F-A
industrial
UNew
255
245
Ry..l00
Rapid Tran St
400
385
100
44
stk.
45
Avenue
100
Dock<fe
Imp.
Eighth
Ter
J
85
N
82
H
.. 25
Alimeek Mining
A-O no><
let 5s 1921
Biscuit
6s 1911. M.S Iu2i2
Y
liScrip 6s 1914 ....F-A 105
N
124
100
Realty
Alliance
28
00
JCHob& Patersonl
410
204
200
100
Mtge&
Security.
Y
T142a<fe Qr St F'y stk.. 100 395
N
92
Si
Bank Note Co. 50 87 4
76
M-N i 75
II Amer
4s g 1949
76
65
40
47
100
42d St M & StN AV..100
1]New York Dock
9>4
10
American Can com... 100
So J Gas El & Trac 100 128 130
107
80 "^ 84
111st mort 68 1910 .M-S 104
100
IJPreferred
68
6ihz
100
Preferred
103
noi
M-S
Gug63l953
84
65
6^4
7
Ttausportation...20
f
lt2d income 6s 1916 J-J
Y
180
N
170
.100
Chicle
Co.
114
American
ni2
No Hud Co Ry 6s'14.T-J
108
Inter boro- M etropolitan—
Nlles-Bera't- Pond pt. 100 105
100 100 105
Preferred
113
J-J nil
58 1928
63
53H!
l"*
New com. (-wh. issued)
AmLum'r<fcPulplOO
Nor
5
h
oom.lo
Graphophone
106
Am
no4
M-N
Ext 6s 1924
93
214
100'
3
New pref. (wh. issued) 90
8^6
9>s liontario Silver
10
Preferred
Pat City con 6s '31. J-D n22
93
92
62
61
4 '2% bonds (wh. issued)
100
Elevator
com
Otis
105
101
100
Hardware
noo
Amer
2d 6s
1914 opt A-O
Interborough Rap Tr. loo 227 Hi 228
100 104 107
list
Am J ce Securities See Stk E X listi Preferre«l
See C hicaj
So Side El (Chic)
3^
Lex A V & Pav F 6s See St k Exc Ual
109
Am Malting 63 1914. J-D 105
list Syracuse Rap Tr os 1946 no7
27^4
Metropol Securities See Stk E.
Brewing
50
Pittsburg
100
Press
Assoo'n.lOO
105
Amer
no3'-2
1943J-D
Tra»t
P
&
5s
list
X
E
Stk
49 14
Metropol Street Ry See
50
Preferred
Am Soda Foiin com. .100 '2
United Rys of St L—
Ninth Avenue stock. 100 185 195
Pittsburg Coal See Stock Exch list
60
48^4
100
Ist preferred
100
48
Comvottrctfs
Second Avenue stocklOO 205 210
4^2
Manufacturing.lOO
6>a
Pope
6
80^4
preferred
100
2d
100
86
llPreferred
103
lllst mort 68 1909 M-N noi
70
75
100
lat preferred
Amer Steel Foundries—
Gen 4s 1934.. ..See Stk Exch list
OouBolos 1948-.. . F-A 1131., 116
19
17
100
preferred
2d
90
Excli
Ust
1935
A&O
M
6s
i
UnitRysSanFran SeeStk
173
llSixth Avenue stock 100 170
105
Pratt & Whitn pref. .100 100
Surety
50 187
WaahRy&ElCo 100 40''. 407, American Thread
Sou Boulev 58 1945..J J noo 104
178
Really A.ssoc (Bklyn)lOO 174
4
prer..5 t
88^. 83\ American
100
Preferred
So Fer l8t 5s 1919. ..A-O no8 109
111
113
100
Royal Bak Powd prof.
.^814
Am Tobacco (new) com 490
J-1)
88
48 1951
Third Avenue See Stock Excli list
295
Heat*
LtlOO
Car
Safety
Exch
00
Stock
Prefd
<See
"57"*
100
50
P <& M 68 1928 no5 108 IjWestCliicagoSt
Tarry
1165
Seneca Mining
b0^4
4s and 6s
See Stk Exch
80
IJCon g 6s 1936. ...M-N
VkersSl U K 68 1946A-0 ao6 108
100 550 .580
Singer Mtg Co
Am Typefo'rs com. ..100 35
28th & 29th Sis Isl 58 '96 nil
38
45
Standard CouplercomlOO
Securities
Gas
97
Preferred
100
llQ
HTweniy-Th'd St stk 100 396
4I4
100 120 130
Preferred
Amer Writing Paper. 100
NEW YOEK
Union Ryl8t58 1042 F-A noo 111
10
13
Standard MUUng Co. 100
32112
Preferred
100
Westchest l8t 6s '43 J-J illO'a 1121.^ Cent Union Gas lat 5s... H04 107
37
UO
100
Preferred
8712
58 1919
J-J
Con Ga;3 (N Y) stk. See St k Exo h list
81
83
^Barney& Sm Car ...100
Conv deb 68 ctfs SeeHtk Exch list
BBOOKLYN
Standard oii oY N J ! . 1 00 680 600
100 a;125
11 Preferred
100 260 275
llMutual Gas
^4
•a
50
Storage Power
32
33
Bcthl'm Steel Corp... 100
Gas—
Amsterdam
Atlan Ave 5s 1909. .A-O noi 103 Hi New
Swift & Go See Boston St ic Exc h'ge
93
91
109
Preferred
100
Ist cousol 5s 1948. .J-J S106
A-O 112 113'-2
Con 68 g 1931
106
Isl 6s 1910-1914. ...J -J n02
103
g.s.f.6sl911....
CoU.tr.
River
GasEast
E 68 1933. .A-O 100 102 N Y <fe
BB&
45
44
25
nao Tennessee Coppot
110
Bliss Company com
50 (ll46
J-J H07
Ist 6s 1944
Brooklyn City stock. ..10 238 242
70
80
11Texas<fePaciUc Coal 100
140
Preferred
50 135
112
J-J
Consol 63 1945
Con 58 See Slock Exch list
110
no5
A-O
1908
1st
6s
420
Bond*- Mlg Guar. ...100 410
N Y & Richmond Gas.lOO 42
Bkln Crossln 58 1908. J-J 101
204
Title Ins Co of N Y..IOO 201
178
Borden's Cond Milk.. 100 173
Bkn agl8l8t 581941 A-O 106 108 Nor Un Isl 6s 1927. M-N n04 107
18
17
Tounp.ah Min (Nevada). 1
116
Preferred
100 114
160
llStandard Gaa com ..100 130
BklnyCo<fc Sub jbee Stk ExCll list
21
19
9^ Trenlou Potteries com 100
British Col Copper
5
100 15o 17<)
11Preferre<l
Bklyu Hap Trau See Stk Excll list
100
105
Prcterretl
new
100
Camden Land
3
he t^'ic
M-N 109 112
290
1st 6s 1930
llCouey l8.<fcBklyu ..100 270
65
Trow Directory uew..lOO 45
4
casein Co of Am com.. 100
100
96
Isl cons B 48 1948. .J-J
1=V
10
Union Copper.
101'
75
OTHKtt CITIES
Preferred
Brk C di N 68 1939.J J 110 113
96
100
Union Typewr com. .100
135
QrSt<feNewlat5s'06 F-A 100
Amer Liglit & Tract. 100 121»i! 122 '5 Caeualty Co of America. 125
120
100 124
Ist preferred
136
OoUuloidCo
100 133
100 lOOVj 101
Preferred
Gr'pl&Loiimer St Isl Os 102
126
100 121
'
2d preferred
15
20
Fireworks
Cent
com.
100
50
B,ay .Slate Gas
Kings Co. Elevated
73
734
100
Copper
United
67
72
Preferred
100
Biugliamton Gas 5s 1938 498 100
Isl 48 1949 See Stock Exch list
110
100 106
Preferred
534
6
100
Central Foundry
100
Brooklyn Union Gas deb
Nassau Elec prol
76
200
lOo
Casualty
S.
U
24
23
100
172
Preferred
A-O 110 113
68 1909 conv '07. ..M-S 167
68 1944
27
8234 83
U S Euvelopc com...l00
8'2 10
Dob 63 1919 op 'OlM-N
See St k Exc li list Buffalo City Gas StocklOO
Ist 4s 1951
80
IttO
1,Pieforrod
See Stk E X list
Central Ijoather
18158 1947 ice Stock Exch list
N Wb'g<fc Flatlet ex 4 »28 101 104
2d pf 6W Stock Exch tut
Rub
192
US
Realty
100
Century
1^
Cousol Gas of N J
Stein way Ist Us 1U22.J-J nio no
U s Steel C*)rvor.itlon—
480
Cliesobroujsh Mlg Co 100 440
95
J-J i 04
1st 68 1936
ColtrelSs'olopt '11 .. ni3 114
Chic Pueum Tool, '^ce Ch icago Ust
OTUUKOITIKS
Consumers' L H & Pow—
Coltrs f 58 '51 not opt.. ni2 114
140
136
City Investing (Jo..
J-D nio
6s 1938
STil GuA Indem.lOO 126 1'2»
125
U
110
100
11ClaUiu(Il
B)c<)m
tlOO
50
Bnftalo Street Ry—
TJDotrolt City Gas
6
7
FircExfr.lOO
Uuiversal
101
98
100
'1
Ijlst preterrod
let consol 58 1931. .F-A ni2
114
EUzabcth Gart LtCo..lOO 275
Westchester <fc Bronx
100 101
1i2d preferred
132
Deb 68 1017
A.O no6
EMsex & Hudaon Gas 100 131
182»9
Guar
Co.
.Mort
cfe
Title
Colo 1 udustruil. See Stoc k Ex list"
49
4^
Clucago City Ry
See C hie ago Ii8l
Kort Wayne Os 1926. .J-J
Westnigh Air Braitc..60 ns4 166
80
65
C0I& HockCoal&lpf 100
61
63
Columbus (O) St Ry..l00 102
Gas <fc El Bergen Co. .100
White Knob Min...
80
JJ i 78
iRtgos 1017
Prolerred
100 109 »5 UOHj Grand Rapids Qaaa
Proferre<l .........
Compressed
Air
Co.
..100
103
F-A noi
Colum Ry con 68 See Ph Ua Ust
lllst 58 1916
Worthing Pump pref. 100 117
66
64
Coneolid Car Heating 100
113
100 112
Crosst'wn l8t68'33.J-D noo 108
Hudson Co Gas
40
20
Firew'ks
oom
.100
TlCons
78
ludiaua Nat <fc 111 Gaserana Rapids Ry
100
76
70
60
100
llPreferrcd
26
M-N
Vreferred
1st 68 1008
100
88
es
bat B«(»T«C7
iBa7«'P»7«acar'aiaU tPrlc«ver»^ tSalo price. UDoUarspersh. aEx-rljjht*. asKx-Uiv. (Now stools- USelU •!» Sl'k Axoh.,
Electric

.Irl

I

'<

>.j

H

\

t

W

"ij

W

t

I

mO

t

\

1

2

BOSTON STOCK EXOBiNGUi: -Stock
— Not

?*tiar«" I'ricen

Mnniiay
feb 79

Ha turaa\i
17

ITcb

I'er

no

eb

Ceuruin Prices

HeU>igsilay

"f*iUiii

Record. Daily,

Feb

ieb

-il

BOSTON STOCK

J'Yiiiaii

ieb

2'i

m

Hanye

SaUh

">'n>i;ii..s

Thursuay

Weekly and Yearly

EXCHANGE

01

Year

lor

Uaiiue loT J^eviotu

1906

t/ie

Year r 1905 J

Week
Lowest

S/uirei,

Lowest

lli</he«l

Htqh.ef'

ltuili'uiiiL<<

8!>V«

165

lr.5

•244
177

177

177

177

•811

'.'".'.'.

'3l'i'*

31

34

83

»A
180

,

*32
•82

34
84

175

'

'127

•i'27'

•148>a

100

•<19

•92 »a 95

•208

•92'9

24

208

208

•55

60

9814

99
114,

•9219

20

191a

68

6B

68

201

*24ie

25»4

57
55

144

19
6«ia
2518

208

208

99
113

99 >u 99 15
114 114

99

Last Sale

19S!

68

Jan

514

203

21

39

38'«

29»4
97'*
2u't

La$ts»le 78""
LastSale

105
149
97 V
175
Feb'0«

Last Sale

il

991a

114

28

29

29

97»4
2034
3914

97^4

22

44

45',

X07'2l09

107

108 "s

1084 109 »2

117>all7i2
SO
30

11734

117'',

3034

•5'ii

6

11734 1173,
31I4 31 14
6»2
6

118

3034

245

247

141

u,

13934

140'el41i,

142

43»4

S;*"-;

141

44>2

30

•245

6

SCa 51
Seia 86>a
192
4

192
4
•1S6
•

501-1

87
192

10
242
•934 10
104 104
•223* 24
•26'4
•2 "a

107
80
*31>4

87
192
4

4
>a

136

10
104 "a
•2234 24
•2614 27 <4
•934

^\

•2

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312

214

106'8l07
791a 80

107
80

106
80

3II2
31
48^8 48^8

311^

31>4

40'8 41 'g
10638 i06«4

41
106

107
•50

••46

•60

13
91
•81
•85

13

13
91
•81
•85

13

13

92
86
90

91
85

•81

90

90

6>a

6I4

6H2

89
39
110i«112
1»38

133^,

4
•I'*

4

23
4234
•60

89

Ih.

23 \
4334
-60

"iiK. "27'4
6
••64
-65
78^. 7934
15
15
214

1734
a'a
534

123
2I4

22 >a 23
10
10

934

1

•1

13
67
5«»

LmitSalc
LattSale

prel

Jan '06
Sep '06
241
10
1051?

ioesi

106*1^

80
31

80

4118 42

31

42

106i»107
•13

81

15
93
85
96

93
96

10608
•40

S2

92

LattSale S6

•86

.

1 >i

:

.1

1

'J.

I"

Chic June Ry(fc
Do pref

U S VIOO

Fltchburg pref

100
loo
100
100
100
loo
100

."tfass

1

1

100

Electric Cos
pref

Do

Alexioan Central

Old Colony
Pere Marquette

100
100
100
100
100
100
100
100
Vermont & Mass
100
West End St
50
Do pref
50
WlBConsia Central... 100
Do pref
100
WoicNashife Boch..lOO
lUisceilaDeous

Do

24

Ul
V&

Jan
Jau

954 Feb

14.'.

101
95

Jau
Jan 29
Jan 2

14

s,

1063,
•40

134
92

Feb'06
90

141

:i

!)•.-

5U4 Jau
S6
175

148
'J

2

Jan O'i
Jan 192

Mar
Oct

Not
Deo

17 Jan 5 2034 Feb 14
Oct _ 31 3
.\pr
50 4 Jan 2 09 4 Jan 17 55 No\ 7i)'8Mar
25i4Jan 9 25 '4 Jan 9 1934 .Mas 25'8l>eo
403 l96'8Jan 3,207 '4 Jan 27 al92l4 Dec 2 15 14 Sep
1«8 Feb 7 l.ij Feb 7 164 Oct 167^4 May
230 Janl6'230 Jan 16 Jo2 Jaji 233 May
16 '207 Feb 6|210 Jau 15 .J05 4 Jau 212 Apr
79 Jan 102 Fab
60 Jan 15 57 Feb 20 52 4 Dec 87 Feb
66 Feb 16 64 Jan 4 50 Apr 72 Jaa
66 Jan 10 76 Feb 14 50 Jan 67 4 Aug
32'.i
95 Jan 10 106 l-«L.2u 'J3 4 Jau 102 Sep
2,560 r3j4734Feb21 160 '4 Jan -^4 113 Jan 1514 Deo
80 96 s^ Jan 30 9934 Jan 2 9.5 Sep lolSgFeb
176 Jan 11 175 Jan 11 172 Jau 180 Oct.
121 99 Jan 11 101 Jau 2 93 Jau 102 Sep
78 112 Jan 8 1144 Feb
110 Dec 117 4 Apr
21 4 Jau 314 Sjep
554 Aut 60 4 Sep
200 160 Feb 5 150 4 Feb 16 116 Mar 151 Not

701
607

Amer Agncul Chem.lOO

34 Jan '.^7 194Jan 29 4 Apr
1,150 23 Jan
109 9*2 4 Jan
lo2 Jan 2o 86 Jan ij6i4.Sep
16.107 11 Jan 3 23'4 Feb2.i
414 Apr 15
Deo
4,253 30 Jan 4 414 febiS 20 Jan 36 4 Deo
2,237 140 Feb 19 156^8 Jan 8 130'4 Mh\ 154 4 Deo
412 18S''4 Feb 2i> 141 Jan 2o 32 May 140 4 Aur
144'8Janl7 l30i4Dec 148 Jaa
8,563 135»4 Jan
1,850 41i4Jan 4 47-4 Jan -4 21 Jau 47 Not
92i4Jau 109 Mar
340 ja03 Jan 3 110^4 Feb
3 14 Mai
4-4 Feb 21
S»4Jaull
434 J'ne
160
75 116*4 Jau 8 118 Feb t- 116 Aug 124 Jan
17 Jan 28 Deo
1,166 26 Jan 4 33 Is Feb 1
568 Jan 31
7
Feb 21
830
64J'ly
734 Jan
3T 240 Jau 4 250 Jan 18 239 Dec 257 Apr
180 '4 Jau 9 l69 4Blav I9l Jaa
16»°4Feb21
87
Feb 10 38'4 Jan 6 1 ''a Aug
2,0»9^ 46 Jan 18 53
8OI4 Juu
»8 4 May
1,163 86 4 Jan 3 87=8 Feb 1.'
81 19l4.Jan 8 194 Jan 4 tlSo'-j J'ne 206 Apr
4
Jan
3
2
Fel)
85
1
'4 Feb.O
||34Dec
261 132 Jau 2 139 Janl8 131 Deo 140 '4 Apr
PlantCom t'st 8tl£ comlOO
1
Jan 16 l^is Janl6
1
Feb
234 Jan
Do pref
100
10 Jau 17 Jan
PuUmanCo
100
27 240 Feb 2 246 4 Jan 2 230 Way 258 Oct
Beeoe Button-Hole.. 10
94 Jan 11 10 Jan 2
84 Jan 104 Feb
5
Swoft <fc Co
100
666 .1102 Jan 16 107 Feb 6 100 Dec 114 Jan
Torrlngton Class A.. 25
22 4 Jan 11 23 Feb 13 18 J'ly 23 Jan
Do pref
25
2534 Jau 18 26 Jan 22 25
Mny 27 Aug
2 14 Feb 20
Dnlon Cop L'd & Mg. 26
2-'4 Jaa 22
2 4 May
46
44 Ang
United Fruit
100 1,325 103 4 Jan 2 110 Jan 27 103 Apr 115 Feb
Un Shoe Mach Corp. 25 1,657 78 Jan 10 86^8 Feb 1 57 J'ne 90 Ang
Do pref
25
996 304 Jan 17 32 Jan 27 x30"eDec 34 4 Aug
U S Bubber
100
3478 Jau 57 Deo
30 48'8Febiy 644 Feb
Do pref
lOOiiJan 2 113 4 Jan 13 98 '8 Jan 117 4 Apr
100
U S Steel Corp
100 24,840 40't feblj 4614 Jan 20 21"eMay 43 4 Deo
Do pref
100 2,407 106 4 Jan 4 1 134 Feb 1 91 May lo7 Dee
West End Land
25
65 '40 Jan 26 •50 Jan 16 40 Mar 67 4 Jan
West Telep Jfc Teleg.lOO
2S 12 Jan 2 17 4 Jan 18 11 Dec 2;:! 4 Feb
Do pref
„100
90 91 Jan 2 98 -i Jan 19 90 Oct 10 i Feb
Westing El cfc Mfg.. . 60
84 4 J an 21. 86 Feb 7 »2 4 Oct 92 Mar
Do pref
60
20 90 Feb2u 98 Jaa 11 91 May 100 Got

lOo
Amer Pneu Serv
60
Do pref
40
50
141 Amer Sugar Rejln
100
Do pref
13934
100
140 Amer Telep <fc Teleg.lOO
46 Amer Woolen
100
Do pref
lOJ
100
Boston Land
„. 10
il8 Cumberl TeJep <jb Tel 100
30', Dominion Iron & 8t
63, East Boston Laud
Edison Elec Ilium. ..100
247
1701., G-eneral Electric
100
50 14 Masa'cliusettsOrasOoalOO
Do pref
87
100
192 »a MerKenthaler Lino..] 00
M.eiican Telephone.. 10
100
136 N E Telephone

Feb'Ob
Feb'06

31i«

15

esi

6\

8938

401a
112*8

6>s

6%

7
4038

40
11014
1338

40
109411134

18 14

1314

13!^

133s,

414

414
!'•

4I4

4^4

134

1»<

1%

lia

27"
6

27

710
'

^65

15
81
123

13
67

241
10
105

LattSale

80

1

Ltnt3»le 1
LastSale 13^

107
81

93
86
90

111

4

1434

13
67
6ia

39

7910

2208

i>l>«

93

•60

*0'4

106
80

-42

•60

63,

•41a

136

27 14
3

•40

26

9',

•26=4
•a

^50

461a

18
10

18

60
87
192

136

10
242
•934 10
1041a 106
*22*4 24

42«»
107»8

24

2I4

I70I9

87
193

•46

4434

liiO

634

247

240

3II4

231.;

•64

3014

247

I's

2>4

44

'be'i^

>l'ii"

7

-41a....

136

107
82

43

81

•120

4I4

•1
23

'

Do

89i4Jan 2 96 's Jan 13, 77TbM»v 933fc Mar
30 102 4 ieb 23, 1 0.'. S Jan 3' 994 Jan 05 H, SepI4 lei.
248 253 Jai)
J.".
9 J5.S
c 263
Apr
161 1644 Keb23 1W) Jan 1
52 I\ov 158 4 Apr
'JW Jan 3 244'v Febi4 2241 -M..) 24 9 iUr
391173
173 Jau 2 178i4Feb2.i 70 Ukc 185 4 Mar
174 Jan 10,175 Jau
i7l
Jau 175 Apr!
2 311
Jaui3 31.< Keble 105 Jan 311 Deo
202 25 Jau 17 :^-> Feb 7 134 Jan 35 Mar
5 -'4 Feb ;
105 72 4 Jau 10
63 4 Jan 82 4 Apr
14 174 Jau 11 182 Jau 12 I5it -iau 182 Mar
12s Jau 11 127 Jau 16 12.i Nov 132 Feb
ISOisJan 4 IsyigJan 4 H6 Jan 18934 Mar
1604 Jau 167 Aqc
285 Jan .500 Aug.
69<!

pref

J

itiinijig

eia

27 1« 28
70j 705

27 "a 28
706 710
•

41»e

107

I0934 lll»8
13 "a 1312

4

100
100
100
100
lOO
Do ijrel
100
Boston <fe ProvirtencelOO
Bosiou&Wor Elec Oo.

Do

2334

LattSale 113^ Jan '06

••45

41^8

87
192

241

1U4

2714

"a

10
241
•934
10
1041a 106
•2234 24
•261a 27 14

240

414

169^4 17113
4934 61

l^s

'

10

240

6*3

13518 136

1^

'

50
87
192

40
140Sl

139 Si
140
45
109

118

283,

98

2234

30% 31

246

501a

87

'

242

51)1^

192

4

135

136

1%

•

248

246

248

96

I4014I4I
45
451a
108i«109
3'8

'b\

99S2
I14I4

Oct '06
Oct '06

»28Sj

9714 9714
211a 2234
39Si 4OS2
140 I4OI4
139 139Si

la

401a
1411^
13834 13914
140^4 141
45 li 46I4

140
U0>4l41
139 ViQ^ 139

141

'01!

150

29
97
20

29
99

28=4

8auU FelOO

pref
Rutland pref
Feb"06 Seattle Electric
Do pref
1U5
ISl", Union Pacific
97 1.^
Do pref

•

LastSale 6U
•07
20
39

<fc

prt-f

2ul N Y N H 4 Hart.. ..100
Feb '06 Northern N H
100
Jan '06 Norwich <fc Wor preflOO

208
Oct 'o
60

LOl

e9ia

99
114

1914

68
2U034

Last Sale

55
78
•7734 78
105 1061s
106 106
152 153 2:14734 149
'97 14 98 la
97'4
97

144

Last Sale 163
Last Sale i3U

60

57

105
15014 152
•97 >4 981,

150

150m50»4

Toj)

Do

Boston & Albany
Boston Blevawrt.
Bo«toi»& Lowell
Boston & Maine

Feb '06 Ga Ky<fe Electric
Do pref
Feb'Oti
Dec '05 Maine Central

Last Sale y?
Last Sale yy'a
Last Sale

'-2

200 -a 201

201 »2

208>s208»s

10.->

lemism,

143
100
95

142
•99

146
100
95

18ifl

'24'4

H,

7734 78

78
1(13

»»
114

143
•99

95
11)

-2319

209

•97'4

146
lOi)

200 14 201

•55" "6O'
•77
103

145
*'.)H

1834

19

19

At<jli

Last Sale i6yi8 Jan 'Ob Con & Mont (;laK« 4. .100
Last Sale 166
uct '0.' Coiin<fc Pass K)v pref 100
Dec '05 Connecticut River. ..100
LattSale W3

«'J2'3

68
68
•23 >2 24 w,
201 201

102 Si 103 "v

1

•243S)

....

*

89Ja 8P»b WABHIXO90
%9\
TON'8
102 Si 10.'
257 257'. BIKTHOAT.
256 S2 257
'.''
l.'>4a4 154'^
155 166
1.541a
•243
'243
Lait Sale i44
Feb'0(i
177141771^
178'4
177 177
177»a
Jan 'Oii
LaitSale 175
•311
312"3Y'i'" 3V2" 312"
-32
3212 32 la
3j
34
34 Vj
•
83
HA
83
81
•170 175
•170
175
175 176
•
127
126
Last Sale 1J7
Feb'Oi

90
90
no>« 90 ig
Hi3
ll>-'»4l03'4
103
207 1« 25714 -57V,257M

89 •<
2.17

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18*4

10
6«8

23
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liT,

13

67

•65

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'

120
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181a
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23»4

10

710

"/f"
•66

SIS,

80

1534

15>4

2I4
1834

10
6I4

21
10

'1

11,

13
67

1334
67'-,

710
'27"

6

'

-65

84
123

14
234

'

120

LattSalf

•2

24
1314

•934

10

6
23

23

9H»
1

94
1

134 134
67 4 674

Si

Arnold

Atlantic

W

65
16

LattSale lit'o^'
2

20 1.005
26 2.0<iO
50 15,661

1>4

23
33
720 60

Febl3

16 <4 Jau 8
74 Febl'i
6 Jan 8

2
Jan 3
Feb 17 28i4Jau 6
4;''BFebU
•70 Jan 24
33 4 J an 2
715 Jan 15
•12
Jau 12
32 Jan 12

26

Maj 1 104 Oct
Apr 49 Oct
Jau 1114 Deo
8 J'ui' 15'4 Dee
25i»May 73 4 Deo
1
Ma>
7 Not
1

234

18
70

45

J'ne

I24.M05
28
50
534

01

10

3

Not

2o'8 06t
37 4 Deo

May
May

•95

Oct

Jan

35

Deo
Deo

J'nei .20
Mar •20

Oct

Mar 34 4 Oct
4 Sep
84Jan
•70 Jan
30 Mar •75 May
86 4 Jon -i) 64 Jau 854 Deo
18 Jan 6 11 4 Mar 22 Not
84 Feb 13 60 Jan 8634 Mbj
12
Jan 12 113 Jau l-iO Deo
234 Jan 12
May 4 Oct
21 Feb
Ap 20 4 Oct
1038 Jan 25
Jau 1038 Deo
31 4 Jan 2 2034 J ut 32 4 Deo
3
Jan
74 Apr
7'8Janl8
2938Jan 6 17 4.May 28*4 Jiia
12 4 Jau 13 _^6 May 13 4 Mar
14 Jan 4 70 J'ne 1^8 Oct
104 Jau IsSDeo
17 =8 Jaa
61 Jau 2 48 May 6434 Deo
2
J 'ly
64 Deo
74 Feb 13
15 Feb 13 10 4 Dec 13 Deo
02 4 Jan 15 34 Aug 93 Dec
1638
6

C0U8 Mercur Gold..
Jan 2
'"s'sVi •Oi
80S Copper Range Con ColOO 7366 78 'b Feb 17
DaJy.West
20 1,105 14-\ Feb 19
15
Dominion Coal
100
60 764 Janl6
Do pref
lao Jan 23
100
Feb''06
Elm River
12 "s'io
2 Feb -'3
2
-66

S,

1814 liYankiiu

e'^Jan 2
47 Jan 9
118

Jau 18

Jan zb
1(>
Jau 10
£1 6^39 27 Fob 16
25
700
Jau 17
32
•10
10
Feb 8
2638Feblo
25

25
10 Granby Consolidated. 10
38
Feb'06 Greene Cousolidiled. lu
54 Guanajuato Consol.
Isle Koyale (Copper). 26
23
23
26
94
9»i .Mass ConsoL
•1
25
IS Mayllower
26
134
13 S Michigan
Moliawk
25
67
67
6
6 .UoutAaa Coal <& Coke 25
6
14%
14 S, Nevu4i<i Couselidated
16
86 4
86 NorUl Butte
•II4
26
14 Old Colony
40 '4
25
474 Old Domuuou
25
,
98
98 Osceola
•30
39 14 Parrott(SilviS; Gopp) 10
•l".
26
13, Phoenix Consol
•93
25
95 (jumoy
lihode Island
25
6
6
.Santa Fe(Qold<& Cop) 10
2
2

18
10

LattSale
518

134

24

44 S Bingham Con Mindb S
•60
•60
Bonanza (Dev Co)...
274
2/4 Bo8touConC&Q(rct8)
•686
700 Calumet & Hecla
Feb'06 Calaipa (Silver)

80 14

I5I4

18

llO'i

Centeuuial
264
27
LattSale «4
NoT'06 Central Oil

-66
8O34

80
123

Allouez

41

•60
•eo
2714 2734

2S3|

"27"' "27i4
6

4

23 Si 24
46^
44

710

7i

„ 25 460 B Jan 10
25 1.66i 39 Feb 16
Amalgamated CopperlOO 35,647 104>4Jau 4
Ziiic
Aiu
Lead
&
Sm.
25
\6\
340 13i4F«bJU
26
ztfO'eJan 6
Feb 'Oii Anaconda
Arcadian
..
25
4 Feb 16
4
7»0
6V Adventure Con

40

2,430 1634Jan 6
flag J an 17
88 'g Jau 2.1
44Jau 5
440
1.460 22 4 Feb 17
» 4 Feb 21
675
1
Jau 20
11(1
1,216
1,180

18

Febli.

67

Feb 17

1.

4i4Jau 4
14H 14 iv 13 '8 I414
14 4 14>4
6,7»« 11 Jau .6
8434 8634
85-', 861a
81 la fc6
85 14 86
82 4 Jau 4
6.916
li»
1"*
!'«
l^
114 IHi
I'-i
is
208 Oot
1 '4 J an 1
I'sJan 11 '75 Ma\
600
43 'a 40
4534 471.,
421a 44
44 14 474
6.491 »6 Jau . 47 4 Feb .;0 23i4Mtt3 36 4 Deo
97
97
96»ii 9712
97 Sal 00 S/
994 1004
3.2SS 9»4Febl! 109 4 Jau S 88 Feb 116 Uct
3912
383^ 40
39
4034
40
394 40
2,706 834 Feb U 48 Jan 2 22 J 'ut 47 Deo
*1
1'4
II4
1
1"*
l-v
1'4
1^4
14 Jan 4 50 J"ue 34 Jan
1
Feb 16
4l}Ci
•93 la 95
93
93
»3
«6
93
06
89 Feb lb 114 Janll t'5 May 118 Jan
6tig
6I4
6
1 14 May
6
5»4
6
8^8 Oet
6',
6
8S(Janl9
i'h FebJl
720
2
2
2
2
2
2
2
2
1 4 .^U)
3 Jan
2 Jan 3
2^ Jan 16
1,870
6
6
6
6
«»•
6I4 Shannon
tJH.
634 janlO
a
61*
7i4Jau 3
6^ Feb 9 Jan
10 1.6S»
107 107
107 107
109 109 •108 110
26
109
109 Tamarack
2T7 j;107 Jan 1? 122 Jan 2 101 May^KO Mar
13i« 147e
•12»4 131,
13
13 Si
2
Feb l6i4 0ot
14
14
Teoumseh
26 2,681 11 Jau 2 16 4 Jan 8
13 4
14
•44
•44
47
48
4638
25
461a 461a
Jan 30 62 Jan 6 24^8 J'ne 6334 Dec
453^, Tennessee
SOt>t 43
9\ lO'ft 10 Si 11«8 111* ll'e lO's 11^.
7agJan 1318 Feb
1034
9 Jan 30 ll''8Feb20
26 18,413
11 Trinity
67 13 70 'f
677, 69 >4
9 Mai 75 Dee
69^ 74
7234
704 714
100 5,686 62 Jan 6 78 Feb 7
741, United Copper
•100 110 104 110
108 112
111 111
Do prel
110
100
as Jan 9 111 Fob21 744 Nov 88 Dec110
21
Jau 46 4 Deo
LattSale 5^-4 Jan '06 UnitedStJitosMLning 25
4^ 4 Jau 2 65 Jau 17
"12 Hi "12" =8
9 14 Apr 1334 Deo
12 Si 1234 "1234 "12K 'ii3^"l2»i
1238
1234 Unit States Coal ifcOU 25 i'oi'tJ 11
Jan 2 14 4 Feb 2
67
671a 67 -"b
67
68
5734 U S Smelt Bel. <&Mlu. 60 3,834 67
673t,
Feb 19 \M Jan 20
67'a 69
674
44
44\ 44
443,
441^ 443,
44
444
44
Do prel
44'6
60 5.«0V! 44 Febl'i 47 4 Jan 20
69
60 4
6834 60
60
64^8
63'4
64 '4 Utah Con (Gold)
62\ 644
6 '24.918 60 4 J an 2 6934 Jan 12 393^ Mai 68o»Not
6>4
634
7
7
7
6S1
7
74
Victoria
25
1.61S
6^ Jau 2 8 Jan 13 e2 May t740ot
7
4
Ti6I4
6^8
6'8
6*8
63g
16 4 Feb
es,
6%
6 Feb
e^e
84Jan 3
7 4 Dec
6>a
26 1.446
6 4 Winona
I33S4 135
I32I4I34 133 135
134 134
132
134
Wolverine
26
19| 131 Jan 80 136 Jan 14 105 Jan 134 I>e»>
li-j
li-j
•114
II4
ivt
114
14 14
114 WyandotiV4 Feb 17
134 Jan 26l
14J'ne4 27si>e»
26
315
• Betwepay'totasaess'tscaUedlu 1906. <tBeforepay'toIaMe48'tacallpdlni904. * Bid and asked.
Kew stock. fAsstpaid. t Kx-righte. a Sx-41t. Artflita
6'b

534

6»B
I418

5«B
143,

6

6

m

||

&)>3

Feb

"WEEK ENDOIO FEB 23

190^ J.J
^Un BeU Telephone 48....
J-J
Telep Tel coU tr 4s.l 2P J-J
1S"1;
ys),'
I
s
1st
Paper
IW-S
NebiasUa Isi. ^
A.tcli'
Atch Top S i'-e sen g 4 l'J95
Adjustment k 4«---- J .'5 f ;; ,' NON
1st bs-liJOS M-S

&

Boston Elect

Li^-lil

itiii7

\->^

Aq

Boston & M ame 4

SSJi-i

Jan'(if)

Non-exempt 6s

SinkIn^' luurt 4s....
j;
Boston 1st bs....!;
Butte

&

Cedar Kap
O^J

J.

Mo K

Cent verm "I'ist

-

M ay 1

J-J
J-J

10 G

F-A

M-6

St

fjen 58 ...1921
W Mich
Mont cons 4s..l92(J

Oonooro

124

J-D
J-D
A-O

&

,

Pass K 1st e 4s... 194..
...1927
Onrreut River 1st 5s
lst48...L94b A-O
©etGrBap*
.1940 M-N
58.
f
s
Somlnion Coal 1st
190b M-S
••t^T-n
20ld6s
tern Ist gold6s.

Conn

AG

<fc

W

ypemtElk& MO V 1st
Unstamped Ist 68
Nor C B & « coU

'

.at

IJjsa

tr

Feb'06
NoT'05
lOii-i

10534 M«y'06

AG

139 12 Oct '04
140 Apr'0&
99^8 IOOHj
lOO^B Feb'06

100 Sale
99 19

1921 Q-J

ZLr.^

NOTB— Buyer pays

126
109

'08

1003^
100 ^2 100»4 10034
103 >s Sep '05
103 4 Apr '06

43 1921 J-J

R«instereri4s
Betri8tered4s.

Jan

109 >4 Mar'02
112'4Jajj'03
108
106
97 Jan 'Ot
luO
100

98

96

N
...1916 M-S
M-S
6s..l93;-i A-O

..

124^4

104 Hj 104 itj

100

...I'.IO- Nl

.tohburg 5s

48
4s

99

99

99 »?

.

.liv

>M)ch 1st

&ic &

IO6I4 lOeVzFeb'OO

A-O

P
6siy20 J-J
M & P Wis V gu os-iyai
&
V-N
Ohic & No
St

8834

M

97

MS

Eeb'm

Feb 'or,
101
105»8Not'06
10534
100»2l01'4 IOOI4 Feb '06
105 >« Jan '06
105 ^j
99(^1 Jan '06
99^8
93 "^
93
93 \ 93 13

b8..1H2(i J-J

l>

AG
AG

1'5

93^4

,n.,ere.st.

M

1 1

1

1

1

99'

Maro HouKh<S;Ontlst6s.l925 A-O
Mexican Central cons 4s.. 1911 J-J
Jan 1939 J-iy
Istcous 1UC38

1 "j

.'9'

Feb

•JO

5s

i'o'oi^ i'oO'.^

l'J15

.'.'."."!!.'."

.NewEi'iLYaud oons g 5s... 1945
1939
boston Term 1st 4s
1924
Old Colony gold 48
Oreg Ry & Nav con g 48. .1946
1922
Ureg Sh Line 1st g 6s
Kepiib Valley Ist s t 6s. ..1919
Rutland Ist con gen 4ius.l941

94'-.

931a

".J

124'* 124

31

m^.

I'lTiJ

--

51»4

613.,

36
'

*88
89V;
105'4l05i4
31

ll'e
•1114 12

*r.i34

*3034

(For Bonds and Inactive

i'riday

Stocks see below)

Feb 23

•1734

la's

36
11^8
1134

117,

12

20»8 21

112

112
13^8

74^

2012

112
74

20'i2

112

'

74

7 '8 7l»ie
Si's 31'-,
6715 6834
4714 47 14

693l6

62 14
8

693.
52',

8

31^.
31
6712 6S5i«
47i« 47i«

49 Bg 49 =t

*49i<j

631a 63 6f
87>a 98

6338
96^8

31

5278
8
31

6338

46''8

4ti'?8

4934

50

63%

t>3ii

96

9715'

•80

PUIUAOELPIUA

t

\

Inactive Stocks
Allegheny Val pret

10
60
BeU Telephone
50
punbria Iron
100
Central Coal & Coke.
100
Preferred

OonsolTracot NJ...100

©lamond State

631-2

49

if^

G4
50

82 1<

10

Preleried

Ask

Bid
114
102

120

108

1131
101^

114
102

&

II

Peo Tr stk tr ctfs
Gas-L Ist g 58 192^

B Top con 58 '25 A-O
Indianapolis Ry 48.1933

271.,

273,

32
15

34

Con

121

161a

Gen

8^

88
68

'4

6834

107

'<2

"-J

K

1.2

NT

1-2

N

103

103

104

's

lo'i

4

luactive .StocUs

Highest

Sep

34

Deo

.Mai

91

Jan
12'aApr

64
18

S3
47^8

1-.

Bonds
Anacostiaife Pot58

1051-2

Atl& Ch Ist 7... 1907 J-J
Allan C D RR4sl952M.S

1013) 10J'-2

Atl Coast L(Ct)Ctts 5s J-D
J-J
Ctls ot indebt 4s
f-J
5-20 yr48 1925

BaltCPa8slst5s'll M-N
Bait b'undg 5s. 1916 M-N
Exchange 3 Has 1930 J -J

Bait A PI St 68 ml '11 A-O
Bait Trac Ist 6s.. '29 M-N
No Bait Div 68 1942 J-D
Convertible 5s. '06 M-N

1|

417.50 paid,

Ceiit'l Ry oon6sl932 M-N
ICxt* Iiup 6s. 1932 M S
t

*16 paid.

*

$10

paid.

City <fe

Sub 1st 58.. '22 J-D

(htyiii

Sub(Was)lst6s'48

&N
&

103

103'-.

113

93
93 Si
106
113
105 la
110
116
119 '•2
101 'a
113

115
94
95
lOiS;

114
106
121
102"

U2

4 $'iO

M-N

Kuox v Trac 1st 5s '2.SA-0
LakeR El Isl gu5s'42M-S

921a
100
Pref
Atlanta cfc Charlotte.. 100 176
Atlan Coast LiueRR.lOO 160
Atlau Coast L (Conn) 100 420 440
95
92
100
Canton Co
1434
Cons Cot Duck Corp... 50
38
50
Preferred
35
27
Georgia Sou .fc Fla...lOO
97 100
100
Ist prel
75
70
100
2d pref
8 '6
9
100
G-B-S Brewing

pauL

123 la

90

.MetSt(Wash)lst5s'25FA
Alt Ver Cot Duck 1st 5s.
Incomes

Npt N&O P

M.N
1941 M-S

ist 58'38

General 5s
Nortolk St 1st 5s '44. .J-J

North Cent 4 las 1925 A-O
J-J
bones A 6s 1926
J-J
tieries B 5s 1926
Pitt Uu Trac 6s 1997. J -J
Poto Val 1st 5s 1941. -J-J

Sav Fla & West OS '34 XO
Seaboard A L 4s 1950 A-O
Scab <& Roaii 58 1926..! J

Bouud Ist 5S..2VO
lst4'.2S'29 -M-N
Rvifc El l8l4s'49 M-S

.South

U El

Un

L&P

1-D
luc()iue4s 1949
VaMidlsHls 1906. .M-S
2d series 6s 1911. ..M.S
3d scries Os 1916. .M-S
4th ser 3.4-58 1921..M-S
6th series 58 1926. M-S
Va (Stale) 38 now '32. J -J
Fund tlebt 2-38 1991 .J-J
West N C COU 68 1914 J-J
WesVa C& P Ist Gg'll J-J
Wil <fc Weld 68..1936.J-J

1.2

Not
Not
Jan

534
7 3 '8

Aug

55I4N0T

Apr

121-2

«3« Apr
7H3ia Not
47 '8 Aug
501a

Not

031400*
1253(,Apr
31 Not

Bid

2d incoiue 5s 1951

94

Apr
Deo
Feb
Jan
49 Jan
25i4Mar
1238
1714

105
93
118
114
112
105

1910A-O

Not
De«
Mar

la

5414
32

Chas City Ryl8t5s'23J-J
ChasRyGit E15s'99M-tt
Charl C & A ext 6s. '09 J -J
7s

Apr

90
11034

Jau

Si

89
114
73

70

>a

Ma)

21

Gaifc Alalstcou 58 '45 J J
1 St 5s g '29 J -J
Ga Car
Georgia P 1st 6s...'22 J-J
Fla Ist 5s 1945J-J
Ga.So
GB-S Brew 3-4s 1951.MS

65

ib'i'B

103

.Ma',

83
99

124 "a

75

99''»

102 'a
1023^

102

Coal& 1 Ky l.st6s'J0F-A
Col&Grnv lst68.1916J-J
Consoi Gas 68...1910 J-D
1939 J-D
5s
89 14

11034

BAI/I'HIOKE

•2d

993,

156

102
102

1

U5

110479

Vi97'«

Lowest

Highest

Ask

S^

'a

154
109

".i

1151a 116

100

100

F^aAprice.

1.

'-2

105'

loe'^a

Uange lor P^eviout
year (1906)

SSi^Jan 3 8818 Feb 21

Bid

98

98
105

Weekly, Yearly

104 Jan 16 1071^ Jan29
32 Jau 17
29 >a t"eb
89 la Jan 22 91 ".iFeb
GO Jan 23 62 J an 5
19 Jau
15 Jan

'37. J-J

Ala Cons Coal& liou.lOO

I

11

M ot '82 48

Roch
U Trac lud gen 5s'19.J-J
Un Rys Tr ctfs 4s'49J&J
U Trac Pit gen 6s '97 J-J
Welsbach s t os 1930. J-D
Wlks-B G&E con58'55J-J
BAliTlfliOllE

Loh V C 1st 58 g '33.. J-J
leia LehVext43lstl948.J-D
16
10
lit Brothers
116
M-S 115 126
62
2d 7s 1910
EttleScliuylklU
50
14
'4
J-D 126
Consoi 63 1923
66
KlnehUl <fc Schuyl H..50"
152
J-D
Gs
Anuultj2
Haven Iron <fe Steel
1013,
Gen cons 4s 2003. M-N 10 1^.
50
Northern Central
Leh V Trac Ist 4s '29. J-D
Korth Pennsylvania. .5(1
Now Con Gas 58 1948 J-D i 10
50 116
Pennsylvania Salt
Newark Pass con os 1930
58
Penn.'»ylvauia Steel. .100
107 '4
Ph <fe No 1st 4s '39 J-J
Prelerred
100
60
Income 48 1939. ..M-N
Phlla Co(Pittfl) i)ref...50
NoOhioTraocon.'is'19.JJ 100 102
Mill German <fe Norris. 50
loi'ii
No Penn let 48 '36. .M-N 109 111
50 101
llula Traction
Peun gon 6s r 1910. .Var 111
7
10
Kailways General
138
Consoi 58 r 1919. ..Var
I--!
Soaqueli Iron <& Steel.
Penn & Md Steel con 68
1
Tidewater Steel
10
T Can 7s '06. J-D
Preferred
10
"19" Pa<fe
A-O
Con 5s 1939
Tonopali Mining of Nevl
IBS;
A-O
100
Con 4s 1939
Union Tr of Ind
United N J RR & c. 100 269 ii'7'0" Penn Steel Ist 5s '17 M-N 106
'43
certs
48
tr
People's Tr
Unit Trac Pitts pref. .50
" 6'-2 p Co l8t<fe col tr 6s'49 M-S iVi'ia 112
Warwick Iron<& Steel. 10
6
106'4
106
M-N
1961
Con<& col tr 5s
West Jersey <& SeaSh.50 70
PhU Elec gold trust otts 100' loo's
Westmoreland Coal
50
69
68
"a
4s
Trust certifs
WUke.f Gas* Elec. .100
65
Bid and ajsked prices; no sales on tlus day.

loiia

104'^4 J'ne'04
U0-Z'sJan'05

Lowest

col tr 48 '21. J-J
Ry<fc E COU 58 '54J-J

M 4^28 g.l924.Q-F

Ki-rlghts.

M 5 g '20. A-O

Terminal 5s g 1941. Q-F

Keystone WatchCase.lOO

•

Feb '00

P Wdi B

io'j"

<fc

Interstate 4s 1943 ..F.A
EehlffliNav 4ias '14.Q-J
1914. Q-F
REs 4s g

•

Nov'tr

1(16^4

M

117
107

11

E geu

J-D
Con M7s 1911
CouM 6s g 1911. ...J-D
'47
.A-O
Ex Imp 4s g

Che it; DCanlsC58'16 J-J
Choc<&Mol8t5s 1949 J-J
ChOkcfeG geu 5s '19 J-J

Eq

c&

100

99
ioi'i^

Week

Gen M 4s g 1920.. A&O
Ph & Read 2d 5s '33. A-O

1.2

Berg<feEBrwlst68'21 J-J
Betftle Steel 6s 1998. Q-F

Elec

10'. 3^

Mange tor Year
1906

the

Shares

PHll2Al>EL,PHiA
P

Bonds

Ry 1st con 6s 1932
ConTracolNJ 1st 58.'33
K & A 1st M 5s 1920 M.N

30

Batl

10234

1

Col St

(!.50

100
100
Preterred
50
0emiauiowu Pass
Harrison Bros pref... lOo
100
ladiauapolis St.
100
ladiaua Union Tr
^suiauce Coot N A..U1
Inter Sm Pow<feCheiu.50
Keystone Telephone ..50
50
Preferred

36

ext 7s 1910 A.O
AniRy8Conv6s 1911. J-D
Atl Ctty Ist 6s g '19. M-N
Balls Ter Ist 5s 1926. J-D

6I4

Steel.. 10

Ka«tou Con Electric

Mec Storage

E

Al Val

50

ABiencau Cement

521. .^jnerlcan

3 5 '4
1134

PHLLADEliPHlA

Ask

Bid

5214

25H

'0;'

10lii2t"eb'(;6

''8

97

i^

lU0'.%Oct

'•2

68 '12 7OS18

50

Sale

80^8

'-8

25I8

1

2^-

2»3
69^4
6218
7 '8

258

69 14 69 ^
63 14
63

ll'^s
113,

43
*20ia 21
111 112
7334 75
43

43
'

Aug'o5

Pliiladelpliia
191 5134 Feb 17 54 Jan 27 48 Jan
50
Railways
50 8,684 3034 Jan 5 3734 Jan 24 2434 Way
Cambria Steel
1 1« Jan
Jan lO 10 la J an
2 12
1,404
10
America
of
Co
11 \ lilectric
9i.jJau 2 14 Jan 4
81a Dec
230
100
-11 -a 1134 Gen Asphalt tr ctls
Jan 19 36 Nov
48
Jan
2
160
40
100
ctls
pref
tr
43
Do
43
'4
14
"a Ma)
62 18 '8 Jan 2 23 Jan
100
2012 21 Lake Superior Corp
331 10934 Feb 6 118 Jau 19 too "a J'ly
lllHillS Lehigh C & Nav tr otts. 50
521.2
Jau
50 4.263 7334 Feb 21 85*4 Jan 18
743, Lehigh Valley
74
2^8 Dec
2 w Feb 10 3i»iK Jan 10
665
100
MaradenCo
234
50 3,-29;i 69^4 Feb 17 73iiiH.lan22 iJ5i3ig Ma)
6913 69>, Pennsylvania Kli
40''4 Jan
51 14 5-'. Pluladelp'a Co (Pittsb) 60 27,430 51 Jan 5 63^8 Jau i7"
J'ue
8
8 ^i Jau
738 Jan 11
7 '6 Philadelphia Electrict. 25 1,324
7'e
1734 Jan
31
27
Jan
30
Jan
3
'4
2,860
31'-.
Transit^..
50
*31
Phila Rapid
39
Jan
50 25,75'2 67 14 J an 30 83 Jan 23
63'3ie 691-.. Reading
194 46 "2 Jan 5 471^10 Jan 23 45 May
50
'46
Do 1st prel
47
195 48^16 Jan 3 51 Jau 23 42 Jau
50
Do 2dpie£
•491a 50
50 1,706 62 '4 Jan 4 63 '4 Jan 30 58 14 Mai
63 H Union Tracton
50 8,104 93 Jau 13 101 Feb 15 90 J
95 Si 96 "i United Gas Impt
30 Jan 6 31 .fan 19 20 Feb
.100
WelsbachCo
"31
31

5214

5214

5212

354 36
11^8
'ir-a

17*6

Feb 'Of,

1734

101^

Daily,

Sales
0/

100
50
100
Seaboard (new)
100
Do Istpref
100
Do 2d pre!
*1S^ 1834 United Ry & Electric. 50
107

106

W

*603^
*17'a

11:8

81
!«

75 J'ne'O:;
102ii2Aug'04
.'9
99

FA
J-D
FA

Consolidated Gas
Northern Central

savj S9

31

*30'4

3II4

0

25

Friday; latest bid and asked.

No price

1021a

J-J

Exchanges-Stock Record,

2'i

104 S2

105

106

102

MS

ACTIVE STOCKS

8818 881s

*S8ia

Feb'Oi

A-O

Baltimore
*88>«.

Feb '06

MS

aU Boston Bon^sT'

lOl^a

106
123 1«
99 "a
93 Vj 94
104 hz 104 la

124^4 Sep '05
103 Jan
J-J 103
107'i2Nov'or)
J-J
14
102 jMar02
Rutland-Canadian I8t4sl949 J-J
98 Jan '06
98 100
.Savannah Klec Ist oons 5s. 1952 J-J
1930 FA 106''8 Sale 106^8 106^8
Seattle Elec 1st g 5s
104 Hz 105
lu2 Dec'O
1929 J-J
i'erro Haute Klec g os
100 Jan '06
1^1§ M-S 102
Torrington 1st g 5s
'"4%
101=8
1 grg43.1947 J-J
RR&
Pao
Union
106 106
Feb'Ol
149'g
M.55
loCs
N
1911
Ist lien conv 4a
97
97
109 Feb'Ot
1911
58.
gen
conv
Eruit
United
100 101
119:I'S
11993s
U S Steel Corp 10-60 yr 5s. 1963 M-N
100\ 101
102^8
102%
1916 F-A
West End Street Ry 48
'05
105^4
Oct
1914
Gold 4>2S
1023ft Jan -06
191b M-N
Gold debenture 48
10'^''8
U'278
1917 F-A
Gold 48
103
102''6, 103
Western Teleph & Tel 58.1932 J-J
1(94 V2 Sep '05
10 993910134 Wisconsin Cent Ist gen 4sl949 J-J 169''^'.'.'.
10959 Aug'05
J-J
1909
1st
7s..
Valley
Wisconsin
loo^siom

107
99

100
99

Thursday
Feb

..iiir.'.'.'.ii908

!^s

lOlU

MiU'04

118

99
100

A-O
A-O
A-O

High,

101
LOO

106
122
99

'SA\

I.J

Low

l'20L2:>ep '04
101 14 Sep '06

J'ly

lOO'e 101

Bigh

l'3^^

104
102

"so" Sale

Mich Telep oons 5s tr rec.1929 J-J
.Miune Gen E)ec con g 5s 1929 J-J
1929 F-A
New Eng Cot yarn 5s
1906 A-O
Now Eng Teleph 68

90

87

in a<tdltion to the purchase price tor

Wednesday
Feb 21

luesday

Jan 1939

d cons inc 3s

Share Prices—Not fer Centum Prices
JHonday
Feb 19

93I2

Kau C & M Ky & Br 1st 5sl929 A-O 104*2
J-J 102
Kan C St Jo & C B l8t78..190/ A-O
jtlame Cent cons 1st 7s... 1912
luak
1*J1'2 A-O
Cons 1st 4s

Philadelphia and Baltimore Stock

.Batwrdav
Feb 17

Ask Low

Since

January 1

cq

101
1(M)\ 101 H, Oi
lOUhjlOlSi 10()i2 101
12S'^J'ne 04
102 Oct '05
100 101
106 Jan'O
10534 106
122 123 122 Feb'06
y9 Eeb'Oii
99

1910 J.J
Illmoia Steel deben 5s
Non-convert deben 5s...l91o A-O
la Falls* Sioux O 1st 7s.. 1917
Kan C Clincfe Spr 1st 58... 1925
J-D
Kan C Ft S cfc Gull 1st 78. .1908 M-N
1928
68
Kan C Ft Scott 6s
1934 M-S
Kan C M cfc B RCU 4s
lJo4
Assented income 5s

1013.1 ^io.) If

lUfli^

M-N'

•

41

100 J'ne'Ol
129 J'ne'06
Uli»J'ly'05
87
87
109 May'05

Saie

87
109

A-O
M-N

•

'CRlMUA

.

J-D

AG

Ij
IJI^'

Debenture os
jf-^f;
IJ-;;
Denver t,xten4s
l.'-'
Kebraska Exien 48
1;^1
B<feS VVst4s
li'^y
Illinois Div 3 %s
Ot Northern
/ Joint bonds Hee
.1910
yds
5s
Ohio Jc Ky <fc Stk
CoU trust relundmjj s 4sl940

Uub

99 ^

m-F

ti'2;|

5s.K

Iowa Div 1st
OB&w
IowaUivl8l4s

.

M-N

'.

J
1st 78.i; lb

g 48

10'2

A-0

1-'^'

Yg

llli< Sale

J-J
1;^^ J-J
"„' J-J
>;

|;

92 12
S8

112>^JaJi'03
IIII4
111
102 Sep '05
9978 Fob '06

F-A

•i'-iS-lJ^i^

Boston Teriuinal Ist
Bur & Wo Kiv ex 6s

Ht(ih
\W^H 100

Kanot

Week's
Raiifie or
Last Sale

Feb 23

Bid

Low

%

33

110

.

][\\i

.

'.19

1

104VjApr'00
103 1^ Mav'Oo
Feb'04
117

J-l>

LJIO J-J
J.J

..

Hzs

January

107^8 ^>L•l, -06
02 14 1|102'p
io'i 14102^4
96 'J 96 Fcb'u6
95

M-S

Consoi J8
Boston & Lowell 4s
I

2'i

Jiigti

AG

&

or
Last Hale

Price
JiYidav

BOSTON STOCK EXCH'SE
Week Entjlng Feb 23

Since

Bange

A/fK Low
Hid
99 "a 99 V 99=8
92 lu
921,2 Sale

l^Writ

&

Jian(/e

M'eefc's

Price
Fridari

BOSTON STOCK EXCH'GE

2Z

443

Boston Bond E.ecord,

Feb. 21 190G

Aik
100

"a

113
106

10414 106 14

113
10634 107"'i
11214 II2S4
HI llli«
111
112
l'J2

113
63 '4
32 S.
108
118
117
87 la

98
110
108
118
118

64
33
119

88
100
110>«'

112
116
114
91
91>«
113
il5**
1141a
99
iOl
94-V 94 >•
62'4 73
102
103%
110
112
112
115
114
95 S 96i|
96
»7
113 lift
109
108
12l>
117

_

.

...

.

THE CHRONICLE.

444

and

Jnuesttttjettt

[Vol. Lxxxn.

?^ailrxracl lutjelliqcnce.

RAILROAD GROSS EARNINGS.
shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gro."is earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
periotJ.
The returns of the street railways are brought together separately on a subsequent page.

The following

tnble

La/est Gross learnings.

Week or
Month.

Roads.

Ala Gt Southern.
Ala N O it TexaN O & N Kast.
Ala & Vicksh'f;
Vicksb 81i ife P.
Allegheny Valley.
Atch Top &S Fe.
Atlanta & Char..
Atlantic & Bir
Atl Coast Line
Bait & Anns L..
Balt & Ohio
Bangor & Aroost.
Bellefonte Central

Bridgt & Saco K_
Buff Roch & Pitts
Buffalo & ."^usq..
Cal Northw'n

Canadian North.
Canadian Pacific.
Cent'l of Georfria.
Cent'l of N Jersey

Chattan Southern
Chesap & Ohio
Chic
Chic
Chic
Chic
Chic
Chic
Chic

&

Alton

Rv-

Current
Year.

See South

rn

January .
January .
January .
December
December
December .
December
December
December .
January ..
December
January .
December
2d wk Feb
December .
January
2d wkFeb
2d wk Feb
2d wk Feb
December .
2d wk Feb
December .
December .
2d wk Feb
2d wk Feb

P M & O. December .
Term Tr RR 2d wk Feb
an N O & T Pac. See Southe
St

St L.

Peoria & East'n
Colorado Midland
h Col & South Sys
Col Newb & Lau.
Copper Range

Cornwall
Cornwall

December .
November.
December .
2d wk Feb
December .
December _
December .
December .
2d wk Feb
December

Ry. S ystem be

263,577
132,86'')

198,038
113,841

360,616
81,359
2,227,265
15,464
6,573,465
184,591
5,683
2,523
129.033
125,518
102,280
79,500
1,008,000
232,300
2,118,194
3,404
2,047,828
1,056,743
155,458
95,940
4,790,712
4,849,550
1,115,642
30,555
Ry. S
,042,056
312,052
191,030
219,027
27,135
51,225
17,366
38,267
351.600
99.828

m

331,966 2,049.686 1,902,921
531,820
87.994
.507,345
1.981,518 11,524,970 10,504,820
13,708
95,690
86,038
5,158,171 45,183,873 39,702,904
151 ,008 1,153,799 1.053.090
5,628
36,836
33,449
2,732
26,445
25,567
133,108 5,564,594 5,079,845
95,575
780,389
576,252
819,894 1,078,051
967,248
50,900 3,198,300 2,461,700
706,000 37,831,976 31,859,022
172,600 7,267,891 6,573,332
1,888,603 12,834,285 11.372.189
1,373
83,789
77,685
1,721,082 11,864,154 10,458,403
1,017,987 6,230,202 6.881,464
100,592 5,577,818 4,789,933
78,021 3,741,53
3,455,323
4,183,830 29,046,883 26,621,381
3,872.605 37,781,185 33,461,711
1,067.627 6,964,204 6,500,133
25,927 1,067.429
960,680
'

ystem

bel

6,768
13,501
53,363
180,619
771,000
31,000
802.000

ow.

2,005.396 12,286,777 12,141,289
253,998 1,351,386 1,258,118
171,919 1,108,976 1.065.133
156,314 7,597,848 6,134,458
19,437
144,070
115,353
44,802
342,573
311,935
3.455
94,595
27,549
23,096
229,305
124,011
246.700 12.417.060 10,828,114
78,419
544,917
488,198

Tanuary
3,647,660 2,947,136
2d wk Feb
46,791
25,012
December
564.087
472,236
January .. 4,460.800 4,085,967
Illinois Southern. January _.
31,321
20,630
Int & Gt North'n 2d wk Feb
100,200
82,200
a Interoc(Mex)-. 2d wk Feb 120,272
118,9.58
Iowa Central
2d wk Feb
48,053
36,723
Kanawha & Mich December . 181,444 138,396
Kan City South'n December
655,553
646,791
Lehigh Valley
December 3,008,659 2,583,820
Lexing & East'n. December
41,152
39.406
Long Island
December
Inc 58 362
Louisiana & Ark. December
76,731
67.662
Louisy & Nashy. 2d wk Feb 824,585 606,155
Macon & Birm
January .
11,529
9,085
Manis & No East. December
28,381
30.862
Manistique
January
4,937
4,207
Maryland & Penn December .
27,723
23.372
o Mexican Cent'l. November.
171,546 2,010,009
a Mexican Intern 2d wk Feb
158,829
121,052
Wk Jan 31 182,000 174,100
a Mexican Ry
a Mexican South. 4tli wk Jan
30,553
31,753

I

1,430,587
829,238

'.)

Total system.
Gulf &Ship Island
Hocking Vallev..
Illinois Central _.

& Southw. December .
Mineral Range
2d wk Feb
Minneap & St L.. 2d wk Feb
M St P & S St M. 2d wk Feb
Mo Pac & Iron Mt 2d wk Feb
Central Branch 2(1 wk Feb
Total
2d wk Feb

1.654,973
783,079

121,258
711,251
874, 76«
132, 78()
Inc. 65 4,607
Inc.
5,984
t), 787, 056 6,235,182 38,600,790 34,615,086

& Leb..
Denver & Rio Gr.
Det & Mackinac.
Det Tol & Ir and
Arm Arbor Syst 2d wk Feb
79,346
58.391
DulSoSh & Atl.. 2d wk Feb
56,759
41,297
Erie
December . 4,238,469 3,753,903
Fairchild & N E. December .
2,469
3,132
Fon Johnst & GL January
51,524
45,410
Ft W & Deny City Now includ ed in Colo rado & S
Georgia RR
December
234.084
213,072
Ga South & Fla.. See Southe m Ry. S ystem bel
Gr Trunk System 2d wk Feb 628.018 530,321
Gr Trunk West 4th wk Jan 124,806 137,994
Det Gr H & M_ 4th wk Jan
43,409
42,601
Canada Atlan. 4th wk Jan
34,114
31,092
Great Northern.- January
3,410,467 2,749,568
Montana Cent'l January
237,193
197,568

Millen

Latest Gross

Date.

Previous
Year.

Week or
Month.

Roads.

Mo Kan & Texas 2d wk Fel
Mob Jack & K C 1st wk Jan
MoWle & Ohio.
See Soulht
NashCh &St L.. December .
a Nat RR of Me 2d wk Feb
()

(fc

Ch &

to Latest

Current
Year.

Pacitic.

Gt Western.
Ind & Louisv
Milw
St P. December .
& North W. January ..

CI Cin

July 1

Previous
Year.

2,619,656 2,220,007
1,934,692 1,640,515
25,859,988 23,752.536
12,992
18,367
483,601
433,730
outhern S ystem.
1,437,760 1,294.608

ow.
24.344,580 22,847,172
3.258,972 2,981,905
934.107
906,799

Nev-Cal-Oregon

25,969,174
1,383,799
27,352,973
1,148,614
3,296,942
29,956.570
170,913
4,123,055
3,575,686
1,616,711
905,739
3,588,974
15,804,114
234,465
,514

408,802
24.435.744
83,160
196,191
51,656
173.136
10,256,373
4.092,037
3,471,400
652,561

6.347
12.228
472,482
429,668
41,035 2,390,121 1,891,774
113,559 7,332,112 5,502,465
577,000 26.701,722 26,721,51.18,000 1,246,617
993,572
595.000 27,948,3391 27,715,087

Northern Pa<ific. January .
OhioRiy & West. I>ecember
Paciflc Coast Co_ December

Cur'rU Year Prev's Year

Inc. or Dec.

%

.
.
.

dPenn-EastP&E December
rfWest P & E
December.

Phila Bait & W'sh December.
Phila & Erie..
December
Pittsb C C <fe St L January ..
Raleigh & S'port. December .

Reading Railway December .
Coal & Iron Co December .
Total both Cos December .
Rich Fr'ksb & P. December
Rio Grande Jet.. December .
Rio Grande So
2d wk Feb

Rock Island Sys. December
Jos&Grlsl... December
St L & San Fran e December

.

St

L Southwest..
Seaboard Air Line
Sierra Railway
Southern Indiana
So Pacific Co.cSouthern Ry Sys
Southern Ry k.
Mobile & OhioSt

wk Feb
December

2d

October
January

.
.

December

.

2d wk Feb
2d wk Feb
2d wk Feb
Ala Great Sou. 2d wk Feb
Ga South & Fla January..
Texas Central
2d wk Feb
Texas & Pacific. 2d wk Feb
Tex S V & N W. January .
Tidewater & W'n November
Tol & Ohio Cent. December
Tol P& West
2d wk Feb
TolStL&
2d wk Feb
Tor Ham & Buff. January ..
Un Pac System.. December .
Virginia & So W'n January _.

Qa NO & TexP

W

Wabash

2d

West'n Maryland 2d

W Jersey

wk Feb
wk Feb

& Sea'e December
& L E. 2d wk Feb

W'meport &

N

Br December

.

Wisconsin Central December .
Wrightsvl & Ten. November.
Yazoo & Miss Val January ..

Allegheny Valley
Atlanta & Charl Air Line

Atlantic & Birmingham
Belle/onte Central
CI C C & St Louis
P«oria & Extern
a Interoceanic of Mexico

Manistee & North Eastern..
Manistique
Maryland <fe Pennsylvania . .
a Blexican International
a Mexican Railway
a Mexican Southern
a National RR of Mexico
New York Central

S

S

7,777,198
8,832,358
9,031,449
12,253,008
8,343.843
7,41 7, &34
8,3.82,732

12,535.204
7,054,032
7,098,133
7,509,082
11,047,7.")7

6,750,991
6,586,963

+ 554,131 7.12
+ 947,932 10.73
+ 741,850 8.21
+ 806,920 6.58
+ 667,758 8.00
+ 892,792 12.03
+ 1,004,072 11.96
+ 777,382 6.21
+ 762,433 10.81
+ 1,467,241 20.67
+ 1,307.264 17.41
+ 2,604.505 23.56
+ 1,595.631 23.63
+ 2,079,481 31.57

m

19,921

051.348
822 074
167.472
98 444
148,329
117 351
43 .814
67.884
143,723
137 118
•9 417
14,019
242,595
193 Oil
12,800
11. 700
7,296
7, 957
355,754
315; 399
22, 062
26,612
74,402
50 432
66,087
53, 180
575,199 4,982 247
85,550
55 199
466,208
378, 045
88,987
67, 176
244 574
291,774
102,266
67, 980
13,789
13, 470
558,180
531, 289
18,827
IS, 220
779,917
815, 468
Period.

Jan

Mar
Dec

1
1
1

to
to
to

Jan

to

Jan

to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to

.Tan

Jan
Jan
Jan

Marl
1
1
1
1

1
1

1
1

1
1
1
1
1

I

Dec
Dec
Dec
Jan
Dec

Nov
Feb
Dec
Jan
Dec
Feb
Jan
Jan
Feb
Jan
Dec
Dec
Dec
Dec
Dec
Jan
Dec
Feb
Dec

1904
1905
Feb
1905
Mar 1905
April 1905
May 1905
June 1905
July 1905
Aug 1905
Sept i;)05
1905
Oct
Nov 1905
Dec 1905
Jan
1906

S
12,947,,4IS
342,,043

5,183 ,604
7,109,,517
134,,540
17,,116
48,144,,862
3,659,,468
1.306 ,125
11,7S4 ,290
5,409,,854
31,29S, 425
109,,706
3,288,,741
61,449,,518

9,900
7,030,,738
4,207, 645
14.573, 446
24, 816
18,171, 249
16,887, 205
35,058, 454
697, 793
310, 337
300, 799
23,440, 075
659, 115
20,624, 950
5,702, 655
6,583, 920
848, 328
49,470, 133

,096,396 30,311,645
,660,450 5,087,905

050,088
,311,986

082,739
629,560
185,105
37,052
,227,174

847,702
,584,275

438,434
,817,084

564,281
,671,721
,841,451
,843,306
,534,450

94.299
,652,522

91,525
,670,318

4,532,169
2,040,966
1,014,839
561,985
8,507,189

40,882
2,183,597
835,257
2,363,993
390,429
31,533,368
353,742
16,432,954
2,363,422
2,532,205
2,778,174
91,408
3,530.730
85,078
5,444,791

Current
Year.

Previous
Year.

Inc. $1,0
3,293,915
81,359
5,683
22,517.800
2,658,290
760,856
414,819
4,937
305,280
935,544
585,200
101,073
1,658,919
7,185,768
10,645,848
134875 294

88,527
3,052,435
87,994
5,628
22,141,110
2,781,795
721,298
416,617
4,207
273,197
762,447
517,500
92,875
1,439,740
6,044,458
10,288,448
118145 094
200
13.603.449
7,678.308
2.083.001
46,618
1,510,834
4,307,658

/ju:.8,02

14,753,949
8,497,565
2,444,376
55,911
1,700,700
4,675,858

Cur'rU Year Prcv. Year. Inc. or Dec.
$

Dec

Previous
Year.

and Monthly.

Monthly Summaries.

Jan

Latest Date.

302,986 13,769,768
12,196
487.498
Rv. S ystem bel ow.
895,981
856,414 5.262.955
252,320 227,651 8.-304,294
12,158
10,037
146,979
3.677
3,319
25,233
7,186,768 6.044,458 54,091.804
593,282
544,523 4.023,779
234,385
231,606 1.415,883
2,274,241 1,992,604 13,886,876
953,540 825,540 5.649,754
4,511,063 3.313,000 37.477,270
20,440
15,980
122.S73
505,074
467,406 3,502,487
12161 675 10097675 72,490,618
/nc.1,0 13,100
/nc.4,73
1 ,301 ,203 1,102.203
7,683,938
692,367
582,607 4,631,658
2.444,376 2,083,001 16,653,588
4,916
3,809
30,168
3,414,188 3,201,588 20,822,902
3,424,453 3,681,643 18,102,712
6.838,641 6,883,231 38,925.614
144,398
122,417
789,972
55,911
46,618
364,256
9,921
5,348
364,922
4,542,260 3,940,163 27,010,776
152,505
100,856
818,437
3,787,531 3,440,551 21.611,406
156,199
127,706 5,623,351
1,239,168 1,120.399 7,237,254
32,498
31.638
113,246
112.509
843,077
8,929.174 8,413,351 53,603,179

Jan
Jan
Jan
Jan
Jan
Jan
Nortliern Central
d Penn— East of Pitts & E.. Jan
Jan
d West of Pitts & E
Phila Baltimore & Wash ... Jan
Plviladelphia & Erie
Jan
Jan
Pitts Cin Chic & St Louis
.
Dec
Rio Grande Junction
Jan
Texas & Pacific
Jan
West Jersey & Seasliore

Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month
Month

*o

Current
Year.

380,729

%

8,331,329
9,780,290
9,773,299
13,069,928
9,011,601
8,310,626
9.386,804
13,312,586
7,816,465
8,565,374
8,816,346
13,652.262
8,346,622
8,666,444

July 1

Previous
Year.

Various Fiscal Years.

AGGRBGATES OF GROSS EARNIirGB—Weekly
Weekly Summaries.

..

Nevada Central
December
N Y C & Hud Riv January ..
N Y Ont & West. December .
N Y Susq & West December.
Norfolk & West'n December.
Northern Central December

Wheeling
30,160,655
1,616,490
31,777,145
1,276,569
3,421,818
29,780,022
222,272
4,344,177
3,722,693
1,860,664
1,087,351
3.613,179
17,572,247
262,080
Inc. 383
457,060
26,441,873
87,074
177,710
56,018
194,191
11,230,438
4,212,221
3,747,100
678,359

January

Bamings.

Current
Year.

(123
(116
(117
(lis
(115
(118
(104
(115
(115
(115
(115
(115
(113
(.'4

rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)
rds)

146,748,102
127,073,058
113,714,506
143,622,857
136,595,868
144,ia3,2,56

125,042,575
143,658,287
154,972,550
161,431,629
170.515,148
165,977.137
150,313,544
.57,728,897

136,889,640
119,220,078
117,252,135
130,879,546
127,237,317
129.712,739
114,845,032
130,328,530
141,867.461
147.709.816
157.100,827
150,405,695
142,054,023
45,559.919

S

+ 9,858, 462
+ 7,852, 980
—3,537, 629
+ 12.743, 311
+ 9.358, 551
+ 14,390, 517
+ 11,097, 543
+ 13,329, 757
+ 13.105, 089
+ 13,721, 813
+ 13,414, 321
+ 15,571, 442
+ 17,147. 986
+ 9,168. 978

7.20
6.58
3.01

9.73
7.35
11.09
9.66
10.02
9.23
9.28
8.54
10.35
12.07
18.88

a Mexican currency, b Includes earnings of Gulf & Chicago Division, c Includes the Houston & Texas Central and its subsidiary linens in both
jnears.
d Covers lines directly operated, e Includes the Chicago & Eastern Illinois in both years, h Includes earnings of Col. & South., Ft.
Worth & Denver City and all affiliated lines, k Atlanta Knoxville & Northern included in both years since April 1; it had previously been
Included in 1905 since Jan. 1; earnings of Transylvania Railroad included f^om Jan. 1 1906 and of East Division of Tennessee Central from Dec. 1
In 1903 only.

Feb. 24

THE CHRONICLE.

1906.J

145

—

Latest Gross Earnings by Weeks. In the table which
we sum up separately the earnings for the second
week of February. The table covers 41 roads and shows
31.57% increase in the aggregate over the same week last

Gross Earn'gs
Current
Previous
Year.
Year.
$
$

follows

Roads.

1905.

1906.

S

$

Alabama Great Southern
Buffalo Rochester

&

Pittsb.

PTmdinn Northpm

-

-

Chattanooga Southern
Chicago Great Western
Chicago Indianap & Louisv..
Chicago Terminal Transfer. . .
Cine New Orl & Texas Pac-.Colorado Southern (incl Ft
Worth & Denver City)
Denver & Rio Grande
Detroit Toledo & Ironton incl
Ann Arbor system
Duluth South Shore & Atlan.
Grand Trunk of Canada
Grand Trunk Western

Increase

$

67,884
129,033
79,500
1,008,000
232,300
3,404
155,458
95,940
30,555
148,329

43,814
133,108
50,900
706,000
172,600
,373

2,031

100,592
78,021
25,927
117,351

54,866
17,919
4,628
30,978

219,027
351,600

156,314
246,700

62,713
104,900

79,346
56,759

58,391
41,297

20,955
15,462

628,018

530,321

97,697

46,791
100,200
120,272
48,053
824,585
158,829

25,012
82,200
118,958
36,723
606,155
121,052
12,228
41,035
113,559
302,986
577,000
18,000
98,444
227,651
5,348
127,706
822,074
9,417
193,011
22,062
50,432
378,045
67,176
67,980

21,779
18,000
1,314
11,330
218,430
37,777
1,273
12,328
67,060
77,743
194,000
13,000
69,028
24,669
4,573
28,493
229,274
4,602
49,584
4,550
23,970
88,163
21,811
34,286

1

Decrease.

24,070
4,075

28,600
302,000
59,700

...
Gulf & Ship Island
International & Great North'n
Interoceanic of Mexico
Iowa Central
Louisville & Nashville
Mexican International
Mineral Range
Minneapolis & St Louis
Minn St Paul
Missouri Kansas & Texas
Missou'.i Pacific & Iron Mtn..
Central Branch

&SS M

Mobile & Ohio
National Railroad of Mexico-

Rio Grande Southern
St Louis Southwestern
Southern Railway
Texas Central..
Texas & Pacific
Toledo Peoria & Western
Toledo St Louis & Western

Wabash
Western Maryland
Wheeling & Lake Erie

13,501
53,363
180,619
380,729
771,000
31,000
167,472
252,320
9,921
156,199
1,051,348
14,019
242,595
26,612
74,402
466,208
88,987
102,266

8,666,444

Total (41 roads)
Net increase (31.57%)

6,586,963 2,083,556
2,079,481

Jan
Del Lack

4,075

Net Earnings

Boston Rev B

880,932
2,008,843
3,274,294

867,.591
1,891.907
3,044,699

31... . 9,930,294 9,034,884
31... .20,379,881 18,943,736
31... .37,649,390 35,353,091

2,642,811
5,926,732
9,855,743

2,471 637

31.

5,664,496
9.852,673

& Lynn.b.

Dec 31...
139.464
July 1
Dec 31...
389.092
Jan 1 to Dec 31...
667,145
Bridget'n&SacoRv.b. Dec
2,523
July 1 to Dec 31
26,445
Buff Roch»<S: Pittsb.. Dec
673,205
July 1 to Dec 31
4,615,209
Buffalo &Susqueh. a.. Dec
125,518
July 1 to Dec 31
780,389
Oct.

to
to

124,116
358.149
614,082
2,732
25,567
645,446
4,208,852

12,576
61,947
68.840
215
9,475
299,653
2,161,970

63,478
197
8,578
254,200
1,752,803

95,575
576,252

44,542
291,144

31,134
203,834

102,280
1,078,051

89,894
967,248

16,5.''>3

H,1 19

4.58,603

283,209

Canadian Northern... Dec
437,800
July 1 to Dec 31
2,693,200
Canadian Pacific. a... Dec 5,619,182

384,600
2,098,700

142,200
989.900

135,100
722,900

1

Northw.a..Jan

California

July

July

1

1

to Jan 31

to

Dec 31

Central of Georgia. a.. Dec 1,028,244
July 1 to Dec 31
5,880,089

996,.523
5,484.0.59

334,299
1,850,044

W

(incl Ft
affil'd

1
1

to
to

Dec 31
Dec 31

&
878,266
5,028,010
19,437
115,353
44,802
311,935
3,455
27,549
23,096
124,011

325,782
1,973,025
5,141
36,808
16,864
155,002
9,442
47,880
22,427
135,028

203,070
1,354,250
3,628
26,636
12,403
131,135

3,045,415 2,885,847
6,359,612 5,931,-598
12,018,572 11,282,687

1,366,768
2,724,433
4,774,457

1,305,336
2,635,694
4,592,479

1,553,849
2,941,138
5,832,609

1,728,100
3,232,535
5,621,586

121,292
277,560
579,843
666,858
4,134,960
33,424
140,702
93,324
573,269

125,826
241,217
517,557
581,105
3,782,431
23,711
158,166
72,328
469.933

662,057
1,144,487
7,858,688

442,272
965,771
7,378,282

944

2,205
3,644
14,248
215,358
61,055
413,039

def 488

4,916
9,793
48,213

& West'n—

6,293
53,163

3,163,630
5,911,479 6,099,161
11,285,233 10,925,764
Y b
328,241
366,065
725,970
659,636
1,386,270 1,296,603
Denv &Gio Grande. b- Dec 1,634.352 1,447,717
JulyltoDec31
10.169,860 8,982,114
78,419
Detroit & Mack. a
Dec
99,828
to
Dec
31
544,917
488,198
July 1
253,792
207,113
Duluth So Sh&Atl.b. Dec
July! to Dec 31
1,593,246 1,361,502
Detroit Tol & Ironton
July 1 to Dec 31
2,069,140 1,817,332
Erie RR.a
...Dec 4,238,469 3,753,903
July 1 to Dec 31
25,859,988 23,752,536
2,469
3,132
Fairchild & N East- b. Dec
12,992
18,367
July 1 to Dec 31
45,410
Fonda Johns & Gl. a- -Jan
51,524
July 1 to Jan 31
483,601
4.33,730
Georgia RR.a
Dec
234,084
213,072
July 1 to Dec 31
1,437,760 1,294,608
b
Genesee & Wyoming.
Oct 1 to Dec 31
35,463
32,639
81,030
July 1 to Dec 31
83,066
Jan 1 to Dec 31
160,945
139,797
Grand Trunk of Can.. Dec 2,663,925 2,522,307
July 1 to Dec 31
16,005,918 15,231,171
Gr Trunk Western- -Nov
473,997
483,243
July 1 to Nov 30
2,398,696 2,161.212
Det Gr Hav & Mil.-Nov
112,903
137,235
July 1 to Nov 30
671,576
650,650
Greenwich & Johnsonville
Oct 1 to Dec 31
22,370
20,253
JulyltoDec31
40,602
37,968
Jan 1 to Dec 31
75,502
73,262
Gulf &ShipIsl.a
Dec
178,201
164,571
July 1 to Dec 31
946.151
994,587
Hocking Val. a
472,236
Dec
564,087
July 1 to Dec 31... 3,421,818 3,296,942
Illinois Central. a
Dec 4,654,564 4.493,103
Julyl to Dec 31
25,319,222 25,870.603
Interborough Rap Transit
Manhattan Elevated, b
Oct 1 to Dec 31
3,294,285 3,660,764
July 1 to Dec 31
6,893,713
6,097,761
Jan 1 to Dec 31
12,402,338 14,484,935
Subway Division, b
Oct 1 to Dec 31
1,887,317
f812,091
July 1 to Dec 31
/812,091
2,988,937
Jan 1 to Dec 31
5,815,924
/812,091
Total both divisions, b
Oct 1 to Dec 31
5,181,602 f4, 472, 855
July 1 to Dec 31
9,086,698 f7, 705, 804
Jan 1 to Dec 31
18,218,262/15,297.020
rinteroceanic of Mex Dec
479,607
540,140
Jan.l to Dec 31
6.193,5.54
6,134,182
Iowa Central. a
A220,52S
Dec /i273,009
July 1 to Dec 31...ftl,524,l79 ftl,324,167
Kanawha & Mich. a.. Dec
138,390
181,444
July 1 to Dec 31
905,739
1,087,351

Dec 31
Jan 1
Dec 31
Svr Binghamt'n'& N
Oct 1 to Dec 31
July 1 to Dec 31
Jan 1 to Dec 31
July

1,662,669
9,144.749

325,023
1,701,085

1

to
to

—

—

Kansas Citv Soutli'n

Term
July

4.562,142 2,346,583
31,381,976 27,152,022 12,187,399

37,722
56,251
114,985
947,116
5,603,341

all

Leased lines in N.Y. State.
Oct 1 to Dec 31
3,034,955

2,888,399 2,701,842
5,784,962 5,406,933
-.10,762,603 10,119,750

Dec 31

to

1

$

$

cl53,243
cl94,128
cl57,665

—

July

Current
Previous
Year.
Year.
Roads.
$
$
Ala Great Southern See under Southern Ry ."system below.
Allegheny Valley. b... Dec
Inc.
95,984
Inc. 71,213
Jan 1 to Dec 31
Inc. 1,088,527
Inc. 928,003
AtchTop&San Fe.b.-Dec 6,787,056 6,235,182 d2,623,291 d2.240,524
July 1 to Dec 31.. .38.600,790 34,615,086dl4,908.368dl2,580,363
Atl & Char Air L.a...Dec
360,616
89,060
130,010
331.966
Mar 1 to Dec 31
3,293,915 3,052,435
958,823
823,811
Atlan & Birmingh.a..Dec
81,359
26,213
87,994
9.461
July 1 to Dec 31
531,820
507,345
141,730
161,872
Atlantic Coast Line. a. Dec 2,227,265
1,981,518
844,878
798,635
July 1 to Dec 31
11,524,970 10,504,820 3,859,870 3,768,323
Bait & Annap Sh L_a. Dec
15,464
13,708
4,728
3,548
July 1 to Dec 31
95,690
86,038
34,998
27,976
Baltimore & Ohio. b.. Jan 6,573,465 5,158.171
2,447,906
1,3.54,289
July 1 to Jan 31
45,183,873 39,702,904 16,635,646 14,254,396
Bang & Aroost'k.b.Dec
184,591
151,008
41,776
55,339
July 1 to Dec 31
1,153.799
391,373
1.053,090
447.028
Bellefonte Cent.b
Jan
1,811
5,683
5,628
g977

Jan 1 to Dec
Boston & Maine, b
Oct 1 to Dec
July 1 to Dec
Jan 1 to Dec

So sys

Delaware & Hudson
Oct 1 to Dec 31

returns.

July

&

Den C &

—

Boston & Albany
Oct 1 to Dec 31

Dec 31

to

Dec 1,076,104
Unes) a
6,146<025
July 1 to Dec 31
27,135
Col N'berry & Lau.b.Dec
144,070
July 1 to Dec 31
Dec
51,225
Copper Range. a
342,573
July 1 to Dec 31
Dec
17,366
Cornwall. a
94,595
July 1 to Dec 31
Dec
Cornwall & Leb.b
38,267
229,305
July 1 to Dec 31

—

—

1

279,611
558,078
1,014,931

Centralof New Jer.b-.Dec 2,118,194 1,888,603 1,043,519
July 1 to Dec 31. ..12,834,285 11,372,189 6,471,873
11,632
7,094
def. 1,614
2,388
Chattan Southern. a.. Jan
77,394
74,758
2,290
8,987
July 1 to Jan 31
808,488
615,278
Chesapeake & Ohio. b. Dec 2,047,828 1,721,082
11,864,154 10,458,403 4,725,374 3,945,546
July 1 to Dec 31
340.050
337,343
Chicago & Alton.a...Dec 1,056,743 1,017,987
6,230,202 6,881,464 1,964,412 2,524,338
July 1 to Dec 31
Dec
781,182
662,187
216,425
188,232
Chic Gt West. b
4.627,329 4.000,938 1,699,109 1,300,712
July 1 to Dec 31
476,082
445,665
159,414
150,102
Chic Ind & Louisv. a.. Dec
3,133,899 2,914,074 1,182,195 1,141,697
July 1 to Dec 31
a.
Dec
4,790,712
4,183,830
1,847,887
1,687,827
Chic Milw& St Paul.
29,046,883 26,621,381 10,856,504 10,503,993
July 1 to Dec 31
146,374
125.122
51,951
Tran.b.-.Dec
49.790
Term
Chic
870,752
789,899
327,059
292,132
July 1 to Dec 31
Cin N O & Tex Pac See under Southern Ry system below.
Clev'Cin Chic & St L. b—
22,517,800 22,141,110 5,659,100 6,009,997
Jan 1 to Dec 31
312,052
253,998
98,966
Peoria & East. b... Nov
78,431
723,963
2,658,290 2,781,795
Jan 1 to Nov 30
689,072
191,030
171,919
62,087
22,163
Colorado Midland-a..Dec
1,065,133
304,497
200,638
1,108,976
July 1 to Dec 31
Col

Net Earnings Monthly to Latest Dates. The following
shows the gross and net earnings to latest dates of all STEAM
The compilation
railroads furnishing monthly statements.
includes every road from which we can get a return of this
character, and in that form is given once a month.
Early
returns are published from week to week, as soon as issued,
but for the convenience of our readers all the roads making
returns are brought together here in the week in which we
publish our monthly article on net earnings say, about the
20th of the month. Besides the companies furnishing monthly
returns, we have added this time the roads which make\quarterly
Gross Earn'gs
Current
Previous
Year.
Year.
$
$

1

c516,744
c789,428
cl,204,771

—

Gr Haven & Mich..

Detroit

Oct

Jan

Previous
Year.

b

to Dec 31

JulyltoDec31

year.
Second week of February.

New Eng

Cent

Net Earnings
Current
Year.

Lake

1

1

1

19,3,58

241,584
73,866
494,799
9,246
31,454
46,882
443,826
4, 589, .596

106,090
400,513
30,659
196,606

2,740
36,132
67,912
311,456
4,500,052
110,470
254,518
34,066
194,174

325,017
201.481
1,323,796
1,633,694
7,626,167

10,120
16,226
27,905
47,801
243,978
117,830
1,233.644
1,627,554
8,784,704

1,901,907
3,390,538
0,946,106

2,231,931
4,095,786
8,544,973

1.142,340

/352,837
f352,837
/352,837

7,903
13,811
26,657
59,499

1,591,3.59

3,027,152
3,044,247
4,981,897
9,973,258
187,066
1,546,727
82,824
398.003
41,672
297,679

/2, 584, 768
f4, 448, 623
f8, 897, 810

111,303
1,354,072
39.888
209,549
11.660
121,659

(in-

046,791
3,588,974

198,632
849,154

189.717
951,504

10,364,613 9,245,826
20,433,866 18,022,805
38,600,809 35,161,050

1,133, .594

2.947,200
7,269,299

1,191,665
3.675,811
7,976,771

Business). a. .Dec
655,5.53
1 to Dec 31
3,613,179

Sliore

Oct
July
Jan

3,368

& Mich So.b
to
to
to

Dec 31
Dec 31
Dec 31

—

——

—

b b b b

THE CHRONICLE.

446
Gross
Current
Year.
S

Roads.
Lehigli A iludson River
Ocl 1 to Dec 31
July 1 to Dec 31

Jan

148,997
290,332
540,687

Dec 31

to

1

Eam'gs
Previous
Year.
$
10.5,411

213,7.53
4()S,52S

Net Earnings
Current
Previous
Year.
Year.
S
$
34,897
(•.2,7H2

224,4,58

1()9,470

59,

Valley. b
Dec 3,008,659 2, .583,820 01,137,347
oS82,213
July 1 to Dec 31
17.572,247 15,804,114 07.227,675 06,549,464

& Kast'n.b. Dec
41,152
39,406
July 1 to Dec 31
262,080
234,465
Long Island. b
Dec
Inc 58,362
Jan 1 to Dec 31
Inc 803.609
Louisiana .t Ark. a... Dec
76,731
67,662
July 1 to Dec 31
457.060
408,802
Louisville & Nashville, b
July 1 to Dec 31
21,082,678 19,539,365
Manistee & Northeast .a. Dec
28,381
30,862
Jan 1 to Dec 31
414,819
416.617
Manistique.b
Jan
4.937
4.207
Maryland &. Penna...Dec
27,723
23,372
Lexington

20, .528

12,0.50

103,592
67.633
Dec. 38,772
Inc 81,235
26,8,58

24,061

174,353

160.236

6,234,-387
3,8.58

6,618,564
7,939

150.511

161. 4S2

610

rftV 2,0S5
5,314
83,405

9,277
305,280
273,197
106,888
2,171,546 2,010,009
649,106
.597,726
July 1 to Nov 30
11,230,438 10.256.373 3,374,034 3,011,8,58
TMexican Internat
Dec
621,826
579,324
309,220
197, .584
Jan 1 to Dec 31
6,519,158 6,891,194 2,690,952 2,812,019
MlUen & Southw.b.-Dec
6,768
6,347
682
2,512
Mineral Ranfie.b
Dec
59,699
65,932
13,055
13,102
July 1 to Dec 31
385,082
350,242
84,529
107.530
Minn & St Louis. a. ..Dec fc307,274
A;232,443
124,236
94,704
•July 1 to Dec 31...t2,020,064 fcl,577,909
876,107
639,294
Minn St P & S S M.b.Dec
914,690
735,762
444,591
363,026
July 1 to Dec 31
6,132,667 4,639,696 3,451,749 2,464,340
Mo Kansas & Tex. a.. Dec 1,875,685 1,652,922
579,656
367,190
July 1 to Dec 31
11,336,412 10,917,506 3,491,089 3,390,196
Mo Pacific System. b_. Dec 3,855,530 3,7.52,160 1,426,916 1,371,418
Julyl to Dec 31
22,687,881 23,334,994 7,826,834 8,521,678
Jan 1 to Dec 31
42,618,268 43,693,613 12,340,545 13,287,574
Mob Jackson & KG. b.Nov 103.155
62.745
37.997
Mobile & Ohio See under Southern Ry system below.
1

to

Dec 31. ..

» Mexican Central

Nov

—

NashChatt &St L.b..Dec
895,981
856,414
237.027
206,651
Julyl to Dec 31
6,262,955 5,183,604 1,249,341
1,435,302
t» National RR of Mex Dec
1,296,998
1,097,376
538,639
472,624
Jan 1 to Dec 31
12,755,720 11,569,244 4,471,067 3,864,574
Nevada Cal & Ore. a.. Dec
17,068
16,168
7,362
6,123
July 1 to Dec 31
134,821
124,503
64,788
60,241
Nevada Central. b
Dec
3,677
3,319
1,821
1,530
July 1 to Dec 31...
25,233
17,116
13,762
5,736
New Jersey & New York b
Oct 1 to Dec 31
109,165
103,191
1,638
24,674
Julyl to Dec 31
232,710
222,319
24,538
65,212
Jan 1 to Dec 31
425,669
404,501
46,054
97,667
New London Northern
Oct 1 to Dec 31
278,890
265,281
31,536
18,973
Julyl to Dec 31
562,709
642,592
120,076
57,744
Jan 1 to Dec 31
1,074,417
1,018,595
173,082
140,854
N Y Chic & St Louis—
Oct 1 to Dec 31
2,576,950 2,312,302
731,240
457,845
July 1 to Dec 31
4,765,819 4,308,136 1,291,807
962,594
Jan 1 to Dec 31
9,108,728 8,645,373 2,088,378 1,888,404
New York N H & Hartf—
Oct 1 to Dec 31
13, .546,069 12,383,327
3,969,798 2,876,216
July 1 to Dec 31
27,395,584 25,372,356 8,815,383 7,143,450
Jan 1 to Dec 31
62,005,174 48,477,290 15,820,857 12,896,172
New York
Pennsylvania
Oct 1 to Dec 31
27,266
28,886
10,454
11,347
.Tuly 1 to Dec 31
54.693
58,064
17,314
19,396
Jan 1 to Dec 31
105,810
31,636
9,254
N Y Ont & West.a...Dec 593,282
544,523
164,731
112,087
July 1 to Dec 31
4,023,779 3,659,468 1,225,160 1,165,993
N Y Susq & West.a..Dec 234,385
231,606
67,418
81,407
July 1 to Dec 31
1,416,883
1,306,126
440,221
470,700
Norfolk & Western. b. Dec 2,274,241 1,992,604
936,822
748,669
Julyl to Dec 31
13,886,876 11,784.290 5,584,326 4,772,171
Northern Cent.b
Dec
953,540
825,640
233,898
125,298
Jan 1 to Dec 31. ...10,646,848 10,288,448 2,176,437 2,459,337
Ohio Riv & West. a. .Dec
20,440
15,980
5,529
3 181
July 1 to Dec 31
122,873
109,706
24,947
19,502
Pacific Coast Co
See under Miscellaneous Companies below.

—

—

—

<fe

—

Penn. Lines directly oper.
East of Pitts &E... Decl2, 161, 675 10,097,676 3,763,337 2,690,137
Jan^l to Dec 31.. .134,875, 294 118,145,094 41,486,162 36,342,362
West of Pitts & E.. Dec
Inc. 1,013,100
Inc.
718,300
Jan 1 to Dec 31
Inc. 8,021,200
Inc. 2,139,500

& Wash. b.. Dec

Phil Bait

1,301,203
1,102,203
14,763.949 13,603,449
692,367
582,607
Jan 1 to Dec 31
8,497,665 7,678,308
Pitts Cin Chic A St L. a. Jan 2,444,376
2,083,001
Raleigh & Southp.a..Dec
4,916
3,809
July 1 to Dec 31
30,168
24,816

Jan

1

to

Dec 31

Phila&Erie.b

Dec

Raquette Lake
Oct 1 to Dec 81
5,312
July 1 to Dec 31
16,384
Reading Companies
1^ Pliila & Reading. b. Dec 3,414,188
July 1 to Dec 31
20,822,902
Coal & Iron Co. b.. Dec 3,424,453
July 1 to Dec 31
18,102,712
Total Both Cos. b. .Dec 6,838,641
July 1 to Dec 31
38,925,614

ReadingCo.b
Dec
July 1 to Dec 31
Total all Cos.b
Dec
July 1 to Dee 31
Rich' Fr' burg A Pot.. Dec
144.398
July 1 to Dec 31
789,972
RioCrandoJct
..Dec
55,911
Rio Grande So. b
Dec
53,993
July 1 to De« 31
296,543
Rock Isl syst.a.
Dec 4,642,260
July 1 to Dec SI
27,010,776

Rutland RR- b
Oct 1 to De» 81
Itj
Julyl to Deo Si

JM

1

to

Dm

tl

682,496
1,419,796
2,562,087

3,996
13,296

380,250
4,161,421
139,454
2,621,842
562,899
2,087
11,770

986
5,373

233,150
3,813,921
74,688
2,436,842

383,100
946
9,537
def.240
1,906

3,201,588
1,373,001
1,566,134
18,171,249 8,884,023 8,680.386
3,681,643
285,809
305,784
16,887,205 1,216,316 1,184,459
6,883,231
1,658,810
1,871,918
35,058,454 10,100,339 9,864,846
113,761
118,726
712,908
709,538
1,772,671
1,990,644
10,813,247 10,674.383
122,417
58,054
47,470
697,793
271,178
215,801
46,618
nl6,773
7il3,9S5
44,179
26,766
24,932
246,364
128,074
122.936
3,940,163
1,484,974 1,111,347
23,440,075 8,566,073 7,748,172

631,339
1,352,073
2,437,035

247,144
486,913
846,485

225,878
529.767
801,716

[VOI^ LXXXIL

Roads
Gr Isl.b

Gross Earn'gs
Current
Previous
Year.
Year.
S
S
152.505
100.856
818,437
659.116

.

St Jo

Ml

11.5,92(1

Lehifih

Mar

—

&

Dec

Net EarningsCurrent
Year.

69,120
295.575

Previous
Year.
%
19,40«
168,112

1,359,929
7,399,889
292,088
1,354,071

1,226.984
7,672,468
287,787
1,666.608

%

July 1 to Dec 31
St Louis <t San Fran find
Chic & East Ill).a..Dec 3,787,531
3,440,551
July 1 to Dec 31
21,611,406 20,624,9.50
St Louis Southwest. b. Dec
828,681
874.577
Julyl to Dec 31
4,694,760 4,753,033

Seaboard Air Line. a. .Dec 1,239,168

1.120,399
375,5.39
330,098
7,237,254 6.583,920 2.149,636 1,962,538
123,315
126,754
43,442
64,203
July 1 to Dec 31
729,831
735,819
292,203
329,338
Southern Pacific Co. a. Dec 8,929,174 8,413,351 3.135,539 2.976.016
July 1 to Dec 31
53,603,179 49,470,133 19,112.463 17,294,778

July

1

to

Dec 31

Southern Indiana. b.. Dec

Southern Ry system
Southern Ry.a

Dec 4,602,696 4,239,515 1,421,303 1,279,405
July 1 to Dec 31
26,604,443 24,929,834 8,016,681
7,610,547
Mobile & Ohio. a. ..Dec
776,311
715,675
288,726
266,010
July 1 to Dec 31
4,514,263 4,242,184 1,518.101
1,460,665
Cin N
& T P. a.. Dec 676,190
603,609
153,210
141,163
July 1 to Dec 31
4,032,506 3,719,710
951,833
869,408
Ala Great Sou.a..Dec
319,541
311,613
68,360
64,442
July 1 to Dec 31
1,851,092 1,680,661
383,562
323,423
Ga South & Fla.a..Dec 168,463
167,148
64,188
46,549
July 1 to Dec 31
939,016
877,721
261,126
230,569
Staten Island Rv
Oct 1 to Dec 31
64,257
.53,609
def .3,951
2,528
July 1 to Dec 31
125,555
120,758
7,087
20,14(
Staten Island Rapid Ti'ansit
Oct 1 to Dec 31
220,404
190,406
83,606
84,134
Julyl to Doc 31
410, .536
376,068
1,39,109
177,675
Jan 1 to Dec 31
776,928
716,405
283,895
336,795
Texas Central. a
Jan
83,230
69,886
32,210
30,647
July 1 to Jan 31
603,060
645,912
261,676
213,747
Tex Sab Val & N
Jan 1 to Dec 31
141,487
160,772
28,985
43,022
Tidewater & Western. Nov
7,296
7,957
1,001
1,289
July 1 to Nov 30
37,052
40,882
8,324
3,352
Toledo* Ohio Cent. a. Dec 366,754
315,299
87,916
67,828
July 1 to Dec 31
2,227,174 2,183,597
638,758
664,493
Tol Peor & West'n_b..Jan
111,681
100,933
22,693
17,183
July 1 to Jan. 31
800.961
790,448
186,907
167,663
Union Pacific syst.a.. Dec 5,575,199 4,982,247 2,623,146 2,445,635
July 1 to Dec 31
35,817,084 31,533,368 17,195,844 15,214,711
Virginia & Southw.b.Jan
85,550
55,199
33,691
27,927
Julyl to Dec 31
564,281
353,742
218,204
143,680
Wabash RR.b
Dec 2.061,847 2,032,401
410,009
268,417
July 1 to Dec 31
12,688,646 13,805,977 3,941,914 3.169,864
Western Maryland. a. Dec
362,831
293,695
2/128,610
»/99,389
Julyl to Dec 31
2,312,767
1,970,077
j/716,798
V747,972

W—

Western New
Oct 1 to
Julyl to
Jan 1 to

York & Penna
Dec 31.... 1,887,433
Dec 31
3,691,434
Dec 31
6,647,829

1,484,788
424,239
266,708
2,869,210
880,240
418,731
6,341,974 1,065,248
277,600
b After allowing for considerable extraordinary expenditures
Jer & Seashore. b.. Dec
291,774
244,574 def. 6,789 def. 21,989
Jan. 1 to Dec 31
4,675,858 4,307,668 1,287,416 1,049,416
Wheeling L Erie. b... Dec
461,795
356,643
143,189
69,373
Julyl to Dec 31
2,900,292 2,321,048
829,980
600,171
Wmsport & No Brch.aDec
13,789
13,470
4,786
4,418
July 1 to Dec 31
94,299
91,408
34,597
27.738
Wisconsin Central. b.. Dec
558,180
531,289
187,077
168,138
July 1 to Dec 31
3,652,522 3,630,730 1,384,346 1,311,502
Wrightsv. & Ten. .b.Nov.
«18,827
618,220
7.046
6,644
s91.525
July 1 to Nov 30
s86,078
37,091
31,357
Yazoo & Miss Vail . a . . Dec
930 ,523 1,029,178
292,917
441,868
Julyl to Dec 31
3,890,401 4,629,323
273,780 1,489,348
(

W

.

a Net earnings here given are after deducting taxes
b Net earnings here given are before deducting taxes.
c Figures include the operations of the Newburgh Dutchess <fe Conm.
and the Dutchess County RR. in 1906. but not in 1904.
d For December 1906 taxes and rentals amounted to 8216,337, aeainst
$154,624, after deducting which net for December 1905 was S2, 406,954,
From July 1 to December 31 1905 net after deductagainst §2,085,900.
ing taxes and rentals is 813,711 ,117 tliis year,againstSl 1 ,483,053 last year.
/ In 1904 Subway was in operation only from Oct. 27 to Dec. 31.
g' After allowing for considerable extraordinary expenditures.
ft For December additional income is S4.281 this year, against 83.847
From July 1 to December 31 additional income is $23,108
last year.
this year, against 829,436 last year.
December
For
additional income is §29,503 this year, against $8,617
k
From July 1 to December 31 additional income is $98,619
last year.
this year, against $58,213 last year.
n These figures represent 30% of gross earnings.
s Includes S473 "other income" for November this year, against $404
last year; and from July 1 to Nov. 30 $2,181 this year, against $1,961 last.
V These figures are in Mexican currency convertible into gold at th«
current rate of exchange.
o Including other income, total income (exclusive of results of coal
companies) for December is 81,175,771 in 1906, against $903,694 in 1904,
and for period from July 1 to December 31, is $7,537,848 in 1905, againat
86,860,768 in 1904. Deductions from total income for additions and improvements were $257,160 in December 1905, against $64,952 in 1904,
and from July 1 to Dec. 31 were 8794,631 in 1905, against $749,674

)

1904.

For December additional income and net profits from coal, &c.,
we're $80,764 this year, against $76,457 last year; and from July 1 »•
Dec. 31 $376,220 this year, against 8296,766 hvst year.
;/

—

Interest Charges and Surplus.
The following roads, im
addition to their gross and net earnings given in the fortgoing, also report charges for interest, &c., with the surplus
above or deficit below these cliarges.

—

Int., Rentals,

Current
Year.
Roads.
$
Bangor & Aroost'k..Dec
69.674
July 1 to Dec 31
304,519
Bellefonte Central
Jan
300

Boston & Albany
Oct 1 to Dec 31
July

1

Jan

1

to
to

Dec 31
Dec 31

1,068,993
1,980,907
3,699,907

Ac-

—Bal.

of

Previous
Year.

Current
Year.

8

$

45,689
280.173
330

Net B'ngs.

—

Prevunu
Yecnr.

t

def 4,230

4ef 3,914

142.508

111.199
1,4S1

677

1,006,918 .Trff/78,601 r(te/43,954
514
x232,963
«22S,113
x28,355
«139.338
3,513,397
1,.835,

THE CHRONICLE.

Faii S4 iwc.

—
Roads.

Boston

Jan

I

Tiilv

1
1

$

2,067,844

B& Lynn_

Jan

$

4,106.683
Dec 31
Dec 3ll"- 8.206,673

to
to

Boston Rev

&c.
Previous
Year.

Int., Rentals,

Dec 31"
Dec 31:1.

to
to

15.067
30,680
60.415

14,875
30.461
62.029

543
3,258

543
3,258

36,427
182,236

15,101
107.950

Northwest, Jan
to Jan 31

28,144
196,095

^°*Oct''fTo''Dec'"3^1~..

53,719
103.889
199,174

1

JulvltoDec31
Jan

1

to

$

.

Dec 31

xl .448
a-42,127

x26.932
rfef

328

6,217

a;def.

3,521

x33,437
xi9.402
346
5,320

rfcf

a:22,5.57

a:.36.600

zl71.462

a;190,448

27,047
189,331

(lejM,!i9l

den8,928

262,508

93,878

49.098
99.517
213.965

xlll.631

x5.074

a;126.737 a:df.l5,584
a-55,830 xdf.38,952

6532,205
.529,448
414,911
Cent of New Jersey... Dec 6514,071
July 1 to Dec 31---63.608, 170 63.525.637 2,863.703 2,077.704
cl69,537
44,810
18,695
Ohicago Gt Western.. Dec cl71,615
672,044
1,027,065 1.030.275
270,437
July 1 Dec 31
Cleve Cin Chi & St
4,012,400 3,915,378 xl, 885, 900 .t2,378,836
Jan 1 to Dec 31
44,592
54,399
Nov
44,567
33,839
Peoria <t East
x234,917
488,259
x203,668
491,721
Jau to to Nov 30
8,438
8,427
Dec
8,4.38
3,965
Copper Rant?e
50,625
104,378
50,625
80,510
July 1 to Dec 31
4,042
18,263
4,164
Dec
5,751
Cornwall & Leb
24,125
110,041
24,987
24,088
July 1 to Dec 31

L—

Delaware'* Hudson
Oct 1 to Dec 31

JulyltoDec31
Jan
Del Lack
Oct

1

to

Dec 31

735,865
1,473,250
3',003,313

623,655
1,234,592
1,837,254

569,471
1.162.444
1,589,166

600,327
1,218.307
2,454,266

624,192
1,237,906
2,465,296

953,522
1,722,831
3,378,343

1,103,908
1.994,629
3,156.290

49.808

49,086
95.866
188,676
346,449
2,076,874
90.641
567.134

743.030
1,489,841
2,937,203

& West'n—
1

July

1

to
to
to

Dec 31
Dec 31
Dec 31

Jan 1
Syrac Bing & N
Oct 1 to Dec 31

Y—

96,266
Dec 31
188,901
Dec 31
351,835
Denver & Rio Grande. Dec
2,094,687
Julyl to Dec 31
83,642
DuluthSoSh & Atl...Dec
502,251
Julyl to Dec 31
July
Jari

1

1

to
to

Genesee & Wyoming
Oct 1 to Dec 31
July 1 to Dec 31
Jan 1 to Dec 31
.Dec
•Georgia RR
July 1 to Dec 31
Greenwich & Johnsonville
Oct 1 to Dec 31
Julyl to Dec 31
Jan 1 to Dec 31
Gulf & Ship Island... Dec
July 1 to Dec 31

Hocking Valley

Dec

6,850
13.700
27,686
a51,515
a311.814
4,600
9,200
18,100
25,651
153,681
69,775
402,402

July 1 to Dec 31...
InterborouRh Rap Transit^
Manhattan Elevated
Oct 1 to Dec 31
1,857,022
July 1 to Dec 31
3,534,694
Jan 1 to Dec 31
6.946,607
Subway Division
Oct 1 to Dec 31
449.737
July 1 to Dec 31
7.59,737
Jan 1 to Dec 31
1.224.171
Total both divisions
Oct 1 to Dec 31
2,306,759
July 1 to Dec 31
4,294,431
Jan 1 to Dec 31
8.170.778
lanawha & Mich
Dec
19,952
Julyl to Dec 31
120,642

Lake Sh & Mich Sout.h'n—
Oct 1 to Dec 31
1,850,000
July 1 to Dec 31
3,410,000
Jan 1 to Dec 31
6,320,000
Lehigh & Hudson River
Oct 1 to Dec 31
36.098
.July 1 to Dec 31
72,185
Jan 1 to Dec 31
144,830
Louisiana A Ark
Dec
12,747
July 1 to Dec 31
73,905
Maryland & Penna.-.Dec
3.833
Mar 1 to Dec 31...
41,332
Mineral Range
Dec
9.446
.July 1 to Dec 31
56,678
Mo Kansas & Tex
Dec
364.113
Julyl to Dec 31
2. 186. .557
Mobile Jack & K C... Nov
35,163
Nash Chatt & St L...Dec
149,590
July 1 to Dec 31
897,916
NCTada Cal & Ore
Dec
2,142
July 1 to Dec 31
12,851

V Y

Chicago & St Louis
Oct 1 to Dec 31
July

Jan

New

New

1
1

Jer.sey

Oct

1

July

1

Jan

1

Dec 31
Gee 31
New York
to Dec 31
to Dec 31
to Dec 31
to
to

678,600
901,273
1,498,731

71,484
70,740
181,294
145,351
390.942
328,881
rf 323,008
rf243,675
rf2, 146,346 dl,777.035
xl2, 332 xdf. 15,880
a'77,991 xdf.89.970

6.921
14,419
28,021
a51,415

2.396
17,754
19,196
x27,203

dc/.4.181

a313.912

a:194.731

xl09,594

21.713
39.891
X15.462

4, .300
3,896
6,361
8,600
5,474
8,388
9,400
10,230
20,210
25,450
x30,270
.t22,924
147,468
xl83,846
xl00,13]
114,946
a;312,645
x291,142
471.687 11,121.278 11.115,945

2,066,057
3,597.600
7,261,959

1

/175,1,55

xS03,678

/175.155 xl. 031. 2.38
n75,155 x2, 169,572
/2, 241, 212
/3, 772, 755

xn92,195
xn92.195

July

NT

1
I
1

Roads.
Pennsylvania-

S

— —Bal.

Previout
Year.
$

Net E'ngs.—

ej

Previous
Year.

Oiirrent

Y«ar.

15. .546

31.092
61,997

to Dec 31
to Dec 31
to Df'c 31

Ont A West
Julyl to Dec 31

Staten Island

Oct

1

Toledo & Ohio Cent.. Dec
July 1 to Dec 31
Toledo Peoria & West. Jan
July 1 to Jan 31

Dec
Wisconsin Central
July 1 to Dec 31

1.53,236

11,350
68,100
3,875
30,248
9.446
56,678
354.208
2.112,874

1,304, .532

150,502
903,012
2,162
12.974

2,844
87,437
361,425
5,220
51.937

334,184
671,975
1,304,644

167,302
408,130
620,362

303,110
618.915

15.347 zdf. 11.875
30,694 xdt. 3,089
61,428 zdf. 10,315

xlO.OOl
x37„331
x42,162

xl07,790
5,444
65.556
3.800

xl08,780

29,001
215.543

51. .560

1,439

53.157
3.808
12.922
1.274.322

8,126
16,274

def 12,100
dc! 9,210

77,352
121,953
216.816
2.583
18,081
38,083
223,826
22,978
160,054

44,932
90,863
185,725
2,583

0,254
17.156
67,079
29,627
233.595
X50.083
S417.503

148,437
894,109

18,081

37,772
226,807
22,744
169,831
278,960
564,016

de! 285

del

5,600
3,871

39,202
86,812
150,070
28,064
195,666
x31,715
a:468,087

25.852

de} 5,661
def 2.178

a;lfil,269

def.13,252

x311,560def.l45.285
l,223.989xdf. 119.373 def. 946.389
1,219
1.924
3.199
10.687
16,918
17,051
a:27,840
r40,825
144,774
X465.651
a608,711
875,663

d Charges include sinking fund and "preferred dividend.
f In 1904 Subway was in operation only from Oct. 27 to Dec. 81.
I After allowing for other income received.

Miscellaneous Companies.
Gross Earn'gs
Previous
Current
Year.
Year.
S
$

Companies.
Oct

Cum

Dec

Co

Buffalo Gas

Dec 31

1

to

&

Tel Co.b.-Jan

Net Earnings
Current
Year.
$
44,467
123,268

Previous
Year.
$
42,692
108,231

161,850

436.031

391.313

1-60,990

18,851
145,979

14,433
121,741

7,229
42,611

0,014
61,486

Co.. Dec
36.972
Dec 31
194,932
Houghton Co Elec Lt Co
Dec
26.084
Hancock, Mich
211.723
Jan 1 to Dec 31
75.088
Hudson Riv Elec Pow.Dec
738.388
Jan 1 to Dec 31
27,530
Lowell Elec Lt Corp.. Dec
132,621
July 1 to Dec 31
Jan
Milw Gas Light Co
Minneap Gen Elec Co. Dec
77.894
377.899
July 1 to Dec 31
Dec
505.074
Pacific Coast Co. a
3.502,487
July 1 to Dec 31
Pocahontas Coil's Co.. Dec
Jan 1 to Dec 31

33.578
167.744

17,386
86,305

13,487
67,281

23.593
184,483
56,295
643,886
25,563
124.643

16.510
110,633
37.389
332,272
12.961
64.002
92.432
34,431
166,490
103,869
830,606
35,062
J53,873

13,837
86,669
12,198
247,051
12,987
67,222
72,033
45,771
176,021
79.457
000,331

Tel

111

Fall

Co,

Brockton.

Dec

Jan

1

to

Riv Gas
1

Dec 31

Wks

to

77,613
340,922
467,408
3,288,741

-Int., Rentals,

3,961
47.267
133, .597

2.341,792
4.674,641
9,124,294
Dec
73.491
426,293

2,106.235 x2, 083. .569
t919,113
4.214.671 x4. 694. 671 .t3. 212, 398
8,196,792 x8, 190,324 z5, 566, 112
62,254
91.240
49.833
306.379
798.857
789.614

1

8,149
16,297

U4.601

Interest Charges and Surplus.

125.092
x6,I39 X(/r/.55.67.s
251.224 a;dc/53,442 x</r/85,92S

xrfc/22. 62

615.077

86,905
248,415
248,958
221
29.885
81,041
481,995

Charges include interest on debenture stock.
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.

56,149
532.290

60,297
125.741
252,438

.59.9.53

108,047
208,245
290,847
41.166
171.099

a:16.938

c

July

23.463
def.820
43,741 def.12,602
x83,623
xl6,557
xl5,806
x15,6S0

151,044
304.421
601.013
15,161
124,193
250,643
1,497,058

x6,734

6 Included in the fixed charges in this fiscal year are expenditures fo
renewals, additions and improvements amounting to 589,127 for December 1905, against $200,203 in December 1904, and to $939,637 for
period July 1 to December 31 against S858,745 the previous year.

Ma.ss

4,457.741

1,106,628
6,270,289
5.652
7.099

a Charges here include road rental (paid by lessee) and other deduc-

114 x2„504, 140x^.811 ,327
19,880
x22,324 xc/ef7,i)H7
120,237
xl80,813
x 4,940

2,095,864
4,467,963

xde/4,752

zl,459
904,071
8,602.247
8,440
8.023
323.216

315.396
1.810,380

tions.

Ed El

072, (>35
2,106,781

arfe/2,780

Western New York & Penn
277,620
Oct 1 to Dec 31
583.330
Julyl to Dec 31
1.211,191
Jan 1 to Dec 31
2,860
W'msport & No Br'ch.Dec
17,678
July 1 to Dec 31

X/S50.S81

35.717
75,384

Dec 31
Dec 31

Transit
Dec 31
Dec 31
Jan 1 to Dec 31
Jan
Texas Central
July 1 to Jan 31

a;/439.569

1,042,2.58

4,715
8,100
884,016
5,304.094
8,333
17,833
109.022

0,501
11.728

Ry—

to

July 1 to
Staten Isl Rap
Oct 1 to
July 1 to

f963,280

1.650,000
3,180,000
6,090,000

4,846
7,668
de/4,089
433,163
2,961,791

—

xl, 073, 099

f7. 437.

4,054
6,637
9,375
886,282
3,658,778

6.400
Dec 31
11,677
Dec 31
22,261
Dec 31
349.540
Norfolk & Western.. -Dec
2,025,548
Julyl to Dec 31
Raquette Lake
3,970
Oct 1 to Dec 31
7,286
Julyl to Dec 31
Dec
868,500
Reading All cos
5,211,000
July 1 to Dec 31
8,333
Rio Grande Junction. Nov
17,733
Rio Grande Southern. Dec
108.413
Julyl to Dec 31
Rutland RR—
151.869
Oct 1 to Dec 31
303,797
Julv 1 to Dec 31
604,500
Jan Ito Dec 31
14,644
Dec
St Jo AGrlsl
121,156
Dec
31
July 1 to
Dec
261,158
Seaboard Air Line
1,542,761
July 1 to Dec 31

Oct 1 to
Jtilvl to
Jaii 1 to

a:fl92,195

.r(/r^35,I67

N Y N Hav A Hartf—
Oct

Current
Year.

xl59,602
x247,374
x41.861
x6.5S.68B
x334,568 xl, 619, 132

<fe

Ijondon Northern
to Dec 31._,.
Oct
Julyl to Dec 31
Jan 1 to Dec 31

Jan

—Int., Rentals, &€.

$

2:751.002
.t018,222
2,028.578
4,061,246 a-2.113.634 xl,880,415
8,1-69.833 j2.253.077 x2.263.009

Bridffet'n&SacoRv..Dec
,Iuly 1 to Dec 31
Dec
Buff A'Susqueh
July 1 to Dec 31
CaUfornia
July

—

Bal. of Net E'ngs.
Current
Previous
Year.
Year.

New York &

A Maine—

Ttilv 1

Current
Year.

447

Companies.

Current
Year.
s

Cumberland Telephone A
Telegr.apli
Jan
19,121
Edi'n El (Brockton).. Dec
729
Jan 1 to Dec 31
8,452
Fall Riv Gas Wks
Dec
503
July 1 to Dec 31
3,220
Houghton Co El Lt Co. Dec
2,187
Jan 1 to Dec 31
26,250
Lowell Elec Lt Corp.. Dec
865
July 1 to Dec 31
4.449
Minneap Gen Elec Co. Dec
9.071
July 1 to Dec 31...
54.426
Pocahontas Collieries. Dec
(/22,199
Jan 1 to Dec 31
dl98.044
'/

*c.— —Bal.

Previous
Year.
s
15,889
693
10,980

456
1

,837

2,187
26.350
1,155
6.820
9.144
66.866

of

Net fi'n^J.—

Y^ear.

Prcvioua
lear.

s

$

Current

141.869
0.499
34.158
16.882
S3 .084
14.323
84,283
12.097
49,614
26,361
112.065
12.863
66.829

Includes sinkiiiK fund and prwfarrsd stock «tlTid«[xl.

145.961

6.320
40,506
13,031
65,444
1

1

,660

00,318
1

1

,833

60.403
86,627
119,150

...

—

...

1

.

THE CHRONICLE.

448

[Vol, Lxxxii.
—Gross

STREET RAILWAYS AND TRACTION COMPANIES.
Latest Oross Earnings.

Name

Jan.

1

to

Current
Year.

Week or
Month.

Road.

1

Current
Year.

Previous
Year.

Current
Year.

$

s

i

Previous
Year.
S

20,117
C853,423
26,2.59
18.2.38

22.405
78,244
521.100

,

Ry &

L'ht

November.
January ..
January ..
January ..
January ..
2(1 wk Feb
December
2d wk Feb
January
Januarv .
December

(Muscatine, la).
Tr Co.
Clev & S
Clev Painsv & E..
Col Lon & Sprins;.

W

DavtonSp'g&Urb.
Detroit United Ry.
Dubois Elect & Tr.
Duluth Street Ry..

EastSt L&Sub...
Elgin Aurora & So.
El Paso Electric...
h Ft

Wayne & Wab

Valley Traction. December
Galveston Elect Co December

.

Havana

.

i

Manila El Ry& Ltg
Corp Ry Dept. January ..
Lighting Dept.. ,Ianuary ..
Met West Side Elev Januarv .

—

Ry

Wk

Feb 10
MunHart & Ft W. December
Norfolk Ry & Light December
Nor Ohio Tr&Lt Co Januarv ..

& RR Co

M'K & Green
Pottsv Union Trac
Rochester & East.
Rochester Railwav
Rock Beloit& Janes
St Joseph (Mo) Rv

January
Januarv

949,497
2194.598
274.567

835.231
2181.906
233,862

29,487
16,853
46,413
233,903
19,134
10,573
23,618
447.245
19,445
66.560

28.730
17.079
38,106
191,300
15.682
8,228
26,566

323.192

327,459
199.512
357.183
191,360
176.709
267.912
290.497

15,134
54.777

517,315
233,903
210.259
Z93.267
305.640
4.877.846
CI87.973
788,268

47.785
19,794
30,748
8,709

40,252
18,220
27.421
7.702

549,819
167.941
367.702
8,709

479,345
153.525

45,250
31,000

^.

179.820
300.931
38.242
45.746

.

..

66,578

58,026

..
..

November.
..

December

LtHt &P0WC0 January

73.259
20,222
34.048

17,171
19.932
156.159
10.694

.

.Januarv ..

Januarv

87,326
22,602
40,450

.33,906

54.011
65.465
114.278
111,154
8,437
8,207
9,116
9.942
14,284
20,198
134,496
9,468

Orange Co Traction December
Pitts

105.827
33,906
250.510

10,617
105.827

66,287
73,235
125,846
131,376
10,180
8.702
10,210
13.607

Northwestern Elev January ..
Oakland Tr Cons.. December .
Olean Street Ry... December .

Peeks Ltg

25,276

78,691
114,215
40,713
288,943

72.476

45,250
31,000
201,066
297,464
48,336
52.223

Mil Elec Ry&Lt Co December .
MilLtH &TrCo.. December

Montreal Street

499,598

15,8.58

24,322
28.563
89,462
5.404
11,998
114,215
40,713
28,104

.

99.042
34.760
13,345

110.689
46,567
15,858
24.322
28.563
589.666

10.575
34,760
13,345

9,977
46,.567

Elec Ry. Wk Feb 18
Honolulu Rapid Tr
December .
& Land Co
Houghton Co St Ry December .
Houston Elec Co.. IJecemher .
IlUnois True Co... Januarv .
Indianap Col & So. December .
Jackson Consol Tr. December .
Jacksonv Elec Co_ December .
Kan City Ry & Lt.! December .
Kan Citv-West Ry.' January ..
Lake Sh Elec Ry . . December .
Lehigh V Tr Co—
Street Ry Dep..i November.
Elec Light Dep. November.
December
Lexington Ry
Madison &Int Trac January ..
2/

c513,873
24.826
66,405

1 167,067

659.873

7,702

201 ,066
179.820
3,226,532 3.218,691
608,997
461,952
267.082
311,927
181.200
173,153
731,381
658.189
73,235
65,465
125,846
114.278
1,441,471 1.258.136
126,714
108,117
117.414
124,178
10,210
9,116
13,607
9,942
14,284
17,171

147,850

134,496
136,918

66,578

58.026

535,133

419,349

156,1.59

San Fran Oakl'd &
December
41,839
San Jose Ry
49,170
Sao Paulo (Brazil)
Tram L & P Co. Wk Feb 4 18,846 17,889
Savannah Elec Co. December .
54.146
48,454
Schuvlkill Ry Co . .January ..
14.549
Seattle Electric Co- December . 235.789 208,727

106,052
586,236
14.549

100.266
544.144

2..565.9 13

2.3'21,234

South Side Elev... January .
Syracuse
Ry.. December
Tampa Electric Co December .
Terre Hte T & L Co December _
Tol Bowl Gr&So Tr Januarv ..
Toledo Rys & Light January ..
Toledo & Western. December
Toronto Railwav.. Wk Feb 17
Twin City Rap Tr _ 2d wk Feb
United Rys of St L Januarv ..
United of San Fran December
Wash Alex & Mt V Januarv .
Youngst n-Sharon December

143.229
964,030
411.763
629,760
26,647
159.053
251.125
368,889
590,832
695.039
7,061. 35C
18,003
546,487

131,221
854,907
364,645
569,429

RT

'

a Figures for the

month

143,229
90,905
37.353
61.062

131,221
79,282
33,653
52,070

26.(147

150.944
18,708
45,967
78,264
605,429
572,500
16,353

159.053
20.514
.52,572

92,712
695,039
631,004
18,003
54.197

Jan
Elg Aur & So Trac Co.bJan
July 1 to Jan 31
Illinois Traction Co. ..Jan
Kan Cy— West Rv.a.Jan.
July 1 to Jan 31
Montreal St Ry
Jan
Oct 1 to Jan 31
Peek.skill Ltg & RR...Jan
Rochester Ry . . b
Oct 1 to Dec 31
July 1 to Dec 31
Twin City Rap Tr.b..Jan
Tol Bowl Green & So. a. Jan

Albany

Hud Ry.a..Jan

<fe

July

1

to

Jan 31

Aur Elg &ChicRy
July

1

Jan

Bingham ton Ry

Jan

July 1 to Jan 31
Charleston Cons Ry Gas &
El
Jan

Mar

1

to

39,.544

404,710

to Jan 31

Jan 31

Clev Painsv & E Ry.a.Jan
Cleve&South Trac Co. Jan
Col London & Spgf Ry.Jan
Dayt Spgf & Urb Ry..Jan

20,471
174,007

53,513
564,170
15,858
46,567
24,322
28.563

26,259
293,799
18,238
155,806
47,001
513.873
13,345
34,760

Net Earnings
Current
Previous
S

5,379
55,892
12,065
193,384
7,995
85,798
18,418
224,185
6,740
19,018
1.250
6.174

415,331
869.581
351.120

4.53,6.56

176,056
394,688
175.806

190,597

202,346
11,446
6,791
347.203

16.353
605.429

5,554
233.765

Interest Charges and Surplus.
-Int., Rentals, &c.

Current
Year.
Roads.
$
Albany & Hudson Rv.Jan
5,000
35,000
July 1 to Jan 31
13,116
El.
Jan
Charl Cons Ry G &
144,333
Mar 1 to Jan 31
Clev Painsv & E Ry
Jan
6,678
92,242
Detid; United Ry
Jan
9.333
Elgin Vur & SoTracCo.Jan
65,172
July 1 to Jan 31
6,250
Kan Cy ^Western Ry.Jan
48,611
July 1 to Jan 31
37,090
Jan
Montreal St Ry
102,838
Oct 1 to Jan 31
Rochester Ry Co
92.237
Oct 1 to Dec 31
188,052
July 1 to Dec 31
9,715
Toledo Bowl Gr & So_.Jan
Twin City Rap Tr Co. Jan A;109,708
Unit Rys of St Louis. .Jan 2/275.063

—

—

Previous
Year.
S

5,000
35.000
12.788
142,850
6.663
93,437
9.333
65,172
5,833
46.667
19,035
75.328

—

-Bal. oj Net E'ngs.
Previous
Current
Year.
Year.
i
$
def.
379
1,863
20,892
11.446
5.302
4.623
58,956
79.852
62
def. 3. 055
Z33.553
X75.355
7.591
2,276
55.760
77,834
253 def. 3,141
22,801 def. 7,653
42,310
32,524
238.628
212.039

X83.300
x206,961

xl06,913
x2S0,003

95,333
192,152

1,731

92,638
78,481
x75,027xdef.35.701

fc97,325

j/270.534

X After allowing for other income received.
y Includes charge for depreciation.
k Charges include dividend on preferred stock.

ANNUAL REPORTS.
an index to
AnnualTReports. — The following

all annual
is
steam railroads, Street railways and miscellaneous companies which have been published since the last
editions of the "Railway and Industrial" and 'Street Rail-

reports

way"

of

sections.

This index does not include reports in to-day's "Chronicle."
Railroads, &c.

—

Alabama Consol. Coal

&

Page.
391
390
332
394
216

Iron

American Can
Amer. Dist. TclCR. of New Jersey
American Lii^lit & Traction
American Dist. TeleK. Co. of N. Y--.220
American Sugar Refining (bal. sli.)..333
394
Bell Telephone of Phlla
394
Central Dist. & Print. Tcleg...
389
Chicago Pneumatic Tool
Cumberland Telephone & Telegraph. 280
337
Cuyahoea Telephone
389
Diamond Match
279
221
337
..390
332
390
-395

General Chemical
Harrison Bros. & Co
Huebner-Toledo Breweries
Illinois Brick

Kansas City Southern
Knickerbocker Ice. Chicago

Mackay Companies

Railroads, &c.

—

Page.

Manufacturers' Light & Heat.Pittsb.390
Maryland Coal
337
National Biscuit
388
North .American Co
216. 223
.39S
Ohio Fuel Supply.
338
Pennsylvania Telephone
People's Gas Light & Coke
388
Philadelphia & Erie
393
Pittsburgh Coal
393
Pittsburgh Plate Glass
394
Pullman Co. (bal. sheet Aug. 31)
279
Southern New England Telephone
284
338
Spring Valley Water
.279
Switt & Co
Tennessee Coal, Iron &
396
Union Natural Gas Corp.. Pittsb
398
398
United Box Board & Paper
391
U. S. Reduction & Refining
U.S. Steel Corp. (prelim. statem't).-278

RR

Westlnghouse Elec.

&.

Mtg...

216

{Report for Fiscal Year ending Dec. 31 1905.)

On

pages 45S and 459 will be found the report of President
Below we
Cassatt. with the detailed balance sheet.
compare the results for 1905 with those of several years
A.

J.

previous.

—

Year.

490.986

%
123,557
11,609
120.932
88,381
2,692
38,994
51.569
287,367
3.129

a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.

in 1906 (but not in 1905) include operations

Street Railway Net Earnings.
The following table gives
the returns of STREET railway gross and net earnings
A full detailed statement, including all
reported this week.
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. 27 1906.
The
next will appear in the issue of March 3 1906.

Roads.

163,974
16,924
143,000
103,401
6,.503
71,412
79,400
341,466
4,360

Northern Central Railway.

of the Scranton Ry., acquired Jan. 1 1906.
c Totals are from July 1 in
both years, d Tliese are results for main line, c Totals are from March 1
both
years,
h
These
are
the
combined
earnings
of all the constituent
in
companies, k Decrease due to a strike and boycott, y Spanish silver.
z Totals are from May in both years.

Gross Earn'gs
Current
Previous
Year.
Year.
$
S
22,8.58
20,117
216,597
188,221

352,762
33,906
273,996
191,360
15,134
157.070
203,235
841,349
9,116

407.865
26.647
18.003
695.039

Alaska Packers' Assn

150.944
222,005
317,319
506,061
605,429
6.647.610
16.353

414,208
40,713
307,740
233,903
19,445
187,973
238,230
957,599
10,210

.036,835

Wash Alex & Mt V...Jan
Unit Rys of StLouis.b. Jan

68,4.38

c 157, 070

t

%

Ry

Detroit United

22,858
22,8.58
20.117
Albany & Hudson. January ..
American Rvs Co. January ... al99,901 a 102, 742 cl, 048, 659
26,2.59
39,.
544
January
39,544
Aur ElKiii & Clii Ry
..
IS,23S
20,471
20,471
BinKluimton Ry... ,Jauiiary ..
29,S9S
22,405
29,898
Boston & Worcest'r January ..
87,288
6,479
BurUngl'n (Vt) Tr. Decern Ijer .
5,797]
588.674
December ., 61,534
43.1031
Cent Penn Trac
Charleston Cons Ry
e.564,170
47,001
Gas <t Elect
January ..' 53,513
43.443
24,826
January ..
43.443
Chi & Mil Elec
74,278
66.405
74,278
d Chi & Oak Park. January ..
Citizens'

Roads.

date.

latest

0/

Net Earnings
Current
Previous
Year.
Year.

Earn'gs
Previous
Year.

Year.
$
3,137
46,446
6,428
137,473
6,902
74.657
17.411

201,800
3.608
11.983

OPERATIONS AND FISCAL RESULTS.
1905.

1904.

1903.

1902.

462

448

450

450

4,260,379
82.192,490
2.110 cts.
18,051.555

5.827,550
77,723,595
2.338 cts.
18,937.246

5,512,994
76,381.610
2.260 cts.
15,858,506

Road operated

Operations--—
4.447.637
Pass, carried, No
Pass, carried 1 mile.. 88,840.460
2.092 cts.
Rate p. pass. p. mile.
Freight (tons) carried 19,431,721
1206189241
Freight (tons1 1 mile .
Rate per ton per mile. 0.047 cts.
430.37
Train load (tons)

1225624764 1270067393 1014582766
0.616 cts.
389.50
S2.399
$1,056
$18,802

m.

S2.784
$1,070
$22,793

$22,072

0.628 cts.
406.42
$2,553
$1,045
$22,932

-

1,858,242
8.191.900
481.820

1.734,372
7,994,923
445,228

1.817,418
7,977,121
439,920

1,726,143
6,247,715
381 .422

10,531,962
Gross earnings
Expenses
4,748,278
Transportation
2.109.371
Maint. of equipment.
1,444.265
Maint. of way. &c...
168.652
General

10.174.524

10.234,459

8.355,280

4,684,827
1,890,763
1,092,966
160,698

4.613.588
1.950.277
1.255,717
154,296

3.437.477
1,428.581
1,109.304
129.733

8.470,566

7,829,254

7.973.878

6.105.095

fr't tr'n

Earns, p.
Earns, p. pass, tr'nm.
Gross earns, per mile.

Earnings
Passengers
Freight
Mail. exp.

—
<fe

$

$

miscel..

—

Total oper. exp
c. of exp. to earns.
Net earnings
P.

0.652 cts.
401.17
S2.617
$1,016

$

(80.43)

(76.95)

(77.34)

(72.19)

2,061.396

2,345,271

2.260.581

2.250,185

THE CHRONICLE.

FSB. 24 1906.]
INCOME ACCOUNT.

1902.
$
2,250,185

1904.
$
2,345,271

843,049

875,130

677.012

3,218,814

3,188,320

3.135,711

2,927,197

420,180
494,512
1,146,224
151,323
55,398
920,681

494,760
591,105
916,980
148,759
64,220
908,484

507,777
535,905
916,980
136,969

Extraordinary

368,998
360,182
1,375,468
211,282
49,789
827,721

Tot. disbursements
Balance surplus

3.193,440
25,374

3,188.319

3,124,308
11,405

2,797,631
129,569

Receipts

—
receipts

Total income
Disbursements

—

Rent leased lines, &c.
Interest on debta
Dividends (8%)
Taxes
Miscellaneous

,

$

2.260,581

7bb",6oo

BALANCE SHEET DEC
1904.

1905.

31.
1903.
S

1902.
S

20.981,362
5,436.824
805,970

20,976,470
5,401,824
329,734

842,674

1,076,868

967,629

1,248,850
520,841
1,000

1,912.365
270,436
490,842
2,419

241,987
476,841
9,752

30,673,870

30,986,882

30,977,086

28,404,236

17,193,400
6,822,000
109,872
123,891
968,930
pay-rolls.
&
Vouchers
687,734
Dividends
250,000
Ext'or'y expend'e f'd.
537,249
Depreciation fund
409,440
Due other cos. & misc.
Const. & equip, loan.
3,571,353
Profit and loss

17,193,400
6,835,001
109,873
123,891
936,344
687,734
750,000
521,394
282,470
40,000
3,506,777

11,462,300
9,020,000
110,706
189,831
1,484,686
458,490

11,462,300
9,216,000
110,706
195,711
1,314,827
458,490

30.673,870

30,986,882

—

—

Capital stock

Bonds (see"Ry"sec'n)
Morts. & ground rents
Interest accrued

—Total
V. 81. p. 1376.

..

liabilities

Lehigh

$1,020,354
(5)334,010
73,873
200,000

$971,265
$342,101
(5)326,548
71,986
50,000

$819,547
$313,105
(5)302,439
70,275

$944,303
$242,584

$1,002,276
$18,078

$790,635
$180,630

$685,819
$133,728

Total
Surplus

1,0.59,639
491 ,259

506,064
296,532
4,100,000

758,883

3,348,477.

30,977,086

3,336,422

Hudson River" Railway.

is

Ending June 30 1905.)
President Lewis A. Riley says in substance:
Loans, Etc. The amount of bills payable June 30 1905 Is $170,000
as against $140,000 on June 30 1904, being an increase of $30,000, which

—

accounted for as follows:
Lehigh & Hudson River Ry. additions"and betterments added to
$10,617
cost of road
Advances to Orange County RR. Co. for additions and betterments -.
13,048
Advances to South Easton & Phillipsburg RR. Co. for additions
2 ,750
and betterments
Reduction of current liabilities
$25 ,1 8
21.496
3,686
Less profit and loss, credit for year.

— The gross earnings decreased $23,002, or 4.72%,
with the preceding year. Operating expenses increased

as compared
The extraordinary repairs and renewals included
$5,843, or 2.04%.
in the operating expenses aggregated $27,418, viz.: renewal of rails,
$4,091; renewal of ties, $5,239; renewal of buildings, $3,467; renewal
of bridges, $5,062; repairs and renewals to locomotives, $9,560.
The percentage of operating expenses to earnings, including taxes,
was 65.32%, as compared with 60.90% for the previous year. The
road-bed and equipment are in good condition. During the year 2.38
miles of 80-lh. steel rails were laid, replacing an equal amount of lighter
rails, and 28,585 ties were placed as against 17,679 during the previous
year.
The freight carried amounted to 905,377 tons, a decrease of 71 „599
tons, or 7.33%.
The business originating on the line was 483,003 tons^
an Increase of 22,540 tons, or 4.89% over the previous year, and amounted
to 53.35% of the total tonnage moved during the year.

The comparative

tables follow:
Comparative Freight Traffic.
V
Ores. Anth. Coal. Bit. Coal. Merch.
1904-05, tons
320,386 108,089
58,937 381,820
94,193 396,096
1903-04, tons.
359,655
90,976
1904-05, earnings
$116,460 $47,803 $17,239 $164,589
1903-04, earnings
49,554
20,729 154.068
134,415
OPERATIONS (nor Including Orange Co. RR.)
Imlle

Rateper

pass, per mile
FrelRht (tons) carried

Imlle
At. rate per ton per mile

EARNINGS, EXPENSES AND CHARGES
1904-05.

Oross earnings
Operating expenses

Net earnings

—

Taxes
Interest on bonds
Ulscellaneous

Total
fiurplua

..........

U

(Including Orange Co. RR.).
1902-03.
1901-02.

190.3-04.

$481,772
315,249

$509,408
312.502

$443,678
262.930

$380,876
220.213

$166,523

$196,846

$180,748

$166,663

$11,384
133 116
627

$10,569
125,395
36,445

$11,356
125,395
20,496

$145,027
$21,496

$172,409
$24,437

$157,247
$9,410

BALANCE SHEET JUNE 30
1905.3y

—

1904
$
Uabiimes—
$
2,678,516' 2,068,959 Capital stock

f.?

Assets
Cost of road

Coat of equipment.. 783;823
Or. Co. RR. stock.. 200,000

Adv.
So. Kas.

for constr'n.

229, .398

Ph. stock

160.000
,86.685

<fe

Adv. for constn'..
Mine Hill RR. adv.
for constr'n

Cosh

Due by

Milk.
36.145
36,056
$54,359
66,403

1004-03.
1902-0.3.
1901-02.
1904-05.
95.017
124.268
132,027
108,949
1.014.187
1.541.450 1.528.635 1.363.368
2.26cts.
2.23cts.
2.32 cts.
2.27 cts.
668,667
905,377
976.976
796,037
45,207,819 61,833.402 38.450.704 35.012.976
0.946cti.
0.86cts.
O.SOcts. 0.966 cts

Passengers carried

aeenta

Trafllc h.alnnres

Open accounts
Uat'l and supplies ..

(

40.860
65,340
2,142
40.711
23.239
65,263

1904.
1005.
$
$
..1 .340.000 1,340.000
2, 473,000 2.473.000

782.864 Funded debt
200 000 Interest on funded
debt
216,350
150,000 Audited vouchers &
pay-rolls
»a83,835
Loans & bilLs pay'blo
"[40,860 Tr.ifllc balances
64,771 Open accounts
864 Unpaid coiipons
53,0441 Profit and loss
16.553
47,462

67.466

67.466

30,095
170.000
857
4.759
1.170
278.629

61.843
140.000
570
3.699

940
267.033

4.366.878 4.324.5511

Total

The Toronto Railway Company.
{Report for Fiscal Year ending Dec. 31 1905.)
The results for four years past and the balance sheet of
Dec. 31 follow:

$

Accrued interest..
169,780 Accts. and wages.
156,097 Unredcem'd tick'ts
12.536 Injuries fund
Dividends
Contingent acct.

34.319
104,852
19,404

able

Cash in bank
Cash on hand.

Profit

loss

7.000,000
3,613,373
70 ,300
64,220
306,760
28,269

87,500
203.524
1,714,799

13.088.745 12.679.366

Total

13,088,745 12.679.366

Y. 82.
—Total

and

1904.
$
7,000,000
3.613,373
70,375
63,200
145,116
22.175
3,493
86.510
202.908
1.472.216

1905.

—

.12.680,140 12,178,646 Bonds outstanding
102,307 Mortgases
244.030

ment

p. 335.

Indiana Union Traction Company.
(Statement for Fiscal Year ending Dec. 31 1905.)
~.

Gross earnings
Operating expenses

^'^'vnl'lon
79t),b9U

$725,639

Net earnings
Union Traction Co. of Indiana and Indianapolis
Northern Traction Co. and other underlying bonds.

Interest on

556,062

Net income in excess of taxes and int. on underlying bonds. $169,577
Dividend on preferred stock of Union Traction Co. of Indiana
100.000
and interest on Indiana Union Traction Co. bonds
Net income

— V. 81, p.

—

surplus for
1848.

1

—

905

$69 ,577
I-.-

Dominion Coal Company.

(Report for Fiscal Year Ending Dec. 31 1905.)
The report of President James Ross, accompanied by a
statement of the results for the late calendar year and the
comparative balance sheets of Dec. 31 1905 and 1904 will be
found at length on subsequent pages of this issue of the
"Chronicle."— V. 81, p. 1726, 214.

Railway
Assets

—

&

Light Securities Company, Boston.

(Financial

Statement Feb.

1

Liabilities

$

1906.)

—

000,000
600,000

Preferred stock
Common stock

Investment securities
aBonds: par value, $1,-

1,'

716,000; book value.. 1,605, 290
Stocks: par value, $409,347,980
200; book value
90,000 Surplus
Treas. bonds, col. trust 5s.
29,108
Accrued interest recelv'ble
|

Cash

Collateral trust, 1st series
5s, 1935
Accrued interest

—

500,000
5,125
30,987

63,734

$2,136,112
Total.
$2,136,112
Total
a Part of these bonds, to the par value of $625,000, are deposited with
the
1st series
the Old Colony Trust Co., trustee, as securities underlying
Compare V. 81, p. 1793; V. 80, p. 712.
collateral trust bonds.

Union Natural Gas Corporation, Pittsburgh, Pa.
(Report for Fiscal Year ending Dec. 31 1905.)
President T. N. Barnsdall says in substance:
Since the last annual report the company, through its underlying
companies, has acquired 72,078 acres of new oil and gas leases, and surrendered 39,786 acres that have proven unproductive, and now holds
248,901 acres— an increase during the year of 32,292 acres. This increased acreage was acquired because of the extension of the Knox
County, Ohio, field, and the activity of our competitors and others, in

—

leasing in advance of actual development
it being considered unsafe to
permit possible gas territory to be developed without having some leases
in it.
During the year tiie company has purchased 9 gas wells and
drilled 92 wells, of which 85 were gas wells, 2 oil wells and 5 unproductive, and now has a total of 3 oil wells in Ohio, 346 gas wells in Ohio and
Pennsylvania, and, through its ownership of stock in the Reserve Gas Co.,
Early in the year a
one-half interest in 99 wells in West Virginia.
franchise was secured in Davton, O., and a very satisfactory contract
concluded with the Central Contract & Finance Co. for supplying gas in
the city, through the disti'ibuting system of tlie Dayton Natural Gas Co.
A line, composed of 10 and 12-inch pipe, was laid from Sugar Grove
compres.sing station, a distance of 86 miles, and the capacity of the compressing station was increased to meet the requirements of this business.
The result has fully warranted the expenditure. The gas compressor
station at Bangs, 6., completed this year, has proven satisfactory.
compressor station was also installed at McKinley, McKean County. Pa.,
in order to utilize the gas from low-pressure wells in the Bradford line.
In adchtion to the line to D.ayton, 86 miles, there was laid in the field
lines 34 miles; in extensions in cities and towns, 75 miles; a total of 195
miles.
The amount of the foregoing investment aggregated over 1,100,000.
Since the last annual report, the number of consumers has been
Domestic,
increased in cities operated by the company as follows:
5,078; special, 310; acquired in Davton, 8.000; a total of 13,388, the
total number of meters now being 67,470, of which 65,983 are domestic
and 1,487 special rate-consumers. The cities now occupied are fully
piped, and will require no further investment, except to keep up with
their natural growth.
The company is free from competition in any of
the cities it supplies, and there is a general good feeling existing between
it and the pubhc.
No large investments are contemplated in the coming
year.
The"statemcnt of the operations of the corpor.ition and its

A

underlying companies for the
Gross earnings
Operating expenses, including

year.s ending Dec. 31 follows:
1903.
1904.
1905.
St
!R
S
1,772,714
2,419,189
2,018,741

drill-

877,358

799,968

791,279

Net income from operation
1,741,383
Int. on debt & bond commission..
233.595
Dividend
(8)720,000
3.39,251
Gas purchased

1,019.221

319.937
(8)720,000
206,031

981,435
160,386
(2)180,000

1,292,846
448,537

1,245,968
373,253

4.355.878 4.324,551

1791.

31.

Liabilities

Capital

ing, rentals, royalties,

Total

—V.81. p.

1

1904.
$

1905.

Stores on hand
receivAccounts

Is

Oeneral Results.

44,437,678
15,974,220
$1,834,908
1,015,361

X Includes payment of the city's percentage, $292,707, as compared
with $347,610 the previous year.

28,404,236

(Report for Fiscal Year

Deduct

a;$394,393

Road and equip

20,981,362
6,772,638
619,516

Liabilities

$1,186,887
Net earnings
$464,306
Fixed charges
(5)350,000
Dividends paid
79,997
Cost of paving
50,000
Contingent account..

Assets —

Cost of road, equip. &c. 20,981,362
Bonds & stocks owned 6 ,765 ,2 1
394,847
Materials and supplies
Due from ae;ents, con1,017,420
necting roads, &c..
Adjustm't of const'n
& equipm't expenses
975,762
Cash
536,841
Depreciation fund
2,419
-Miscellaneous

Total assets

1903.
53,055,322
18,654,344
$2,172,088
1.200,823

Passengers carried... 67,881,688
23,625,752
Transfers
$2,747,324
Gross earnings
1,560,437
Operating expenses-.

BALANCE SHEET DEC.

o Includes "car trusts.

1902.

1904.
60,127,460
20,480,270
$2,444,534
1,424,179

1905. •••t"

1903.

1905.
$
2,061,396
1.157,418

Net earnings
Rents & other

449

Surplus

&c

340.387
641,040

.

.

THE CHRONICLE

450

—

BALANCE SHEET DEC.

Liabilities

9.000,000
3,000,000
901 ,000
743,204
1,674,652

Bonds, "Union"
Underlyini; bonds
Net accounts payable
Total surplus

31

1905.

A SDttS

S

Capital .slock

'Investment"

.15,378,816

T^otal

--15,378,816
Total
...15,378,816
Dec. 31 1904 the ooinpiuiy reported for itself and its underlying
companies: Total resources, exclusive of connecting and reserve companies, $11,407,848; deduct liabilities, $4,076,410; net resources, $7,391,438; connectiuK and reserve rompanies {'i owned), §1,020,003;
grand total resources over liabilities, SS,411 ,441 .— V. 82, p. 390.

On

(The) Mackay Companies.
{Report for Period from Feb. 23 1905 to Feb. 1 1906.)
The trustoos make the following report:
Uoldinyi.
The Mackay Companies owns the whole or part of the capital stock of 74 prosperous cable, telephone and telegraph companies in
the United States, Canada and Europe, including the entire capital stock
of the Commercial Cable Co. and the various companies constituting the
land line system known as the Postal Telegraph. The Jlackay Companies is one of the largest stockliolders in the American Telephone &

—

Telegraph Co., commonly known as the Hell Telephone Company.
Duriijg the past year the Mackay Companies has acquired the control of
the North American Telegraph Co., which for 20 vears has owned and
operated a telegraph system in Minnesota, Wisconsin, Iowa and llhnois,
the stockholders of that company having exchanged a portion of their
Stock for preferred shraes in the Mackay Companies.
Status.
The Mackay Companies has no debts. Its authorized capital
Is §50,000,000 preferred shares and $50,000,000 common shares, of
winch there are outstanding 840,645,600 preferred shares and §41.380,400
common shares. During the past year the outstanding preferred shares
have been mcreased by .<4, 670,900, issued in excliange for stock in corporations, which, in addition to strengthening the position of the Mackav
Companies, pays as much or more dividends than the corresponding dividends on the Mackay Companies' preferred shares. The Mackay Compaiues, in' its investments, confines itself to first-class cable, telephone

—

and telegraph stocks.
D!r»/f;u/s— Quarterly dividends

\%

of
have been regularly paid on
s'''i''es, beginning April, 1904, and semi-annual dividends
*
* , ,B''t^''"''>?
*'*^" regularly r>aid on the common .shares, beginning
January,
?ni/^
1905.
Canadian shareholders can cash their dividend checks in Canada

^'^

and European shareholders in London.
Earnings.— The income of the subordinate companies of the Mackay
t.ompanies Is largely in excess of the amount required to pay these
dividends, but its pohcy is to obtain from its subordinate companies
only enough money to meet the dividends on the .Mackav Companies

snares.
All surolus earnings are left in the treasuries of the subordinate
compames for extensions and the development of the business and the
Increase of re.serves.
During the year 1905 the earnings of the Commercial Cable Co. have shown substantial gains in gro.^s receipts and net
profits, on both the ocean and land systems.
After paying the dividends on Its stock, a large amount remaining was carried to reserve.
in accordance with its long-established pohcy.
Extensions.— The Commercial Cable Co. has also completed and put
into operation a fifth submarine cable to Europe, and also established
cable connections with Newfoundland, the business of which has been
heretofore exclusively handled by other companies.
The Commercial
racihc cable Co. has completed arrangements for laving submarine cables
to Japan from Guam, and to China from Manila, to be put
into operation on or before April 1 1906.
The land line svstem (the Postal Telegraph) is being constantly extended, and shows increased gross receipts
and net profits over the jirevious year.
Amendment of Trust Agreement.— The shareholders on June 15 1905.
Dy a vote of over four-fifths in interest of each class, amended the agreement and declaration of trust, so that the shareholders .shall armually
elect the trustees and the trustees shaU annually make
reports to share-

The

.

profit

and

loss

balance sheet of Feb.

account for the period stated and the
1 1906 are as follows:

Fell. 23 '05 to Dec. 19 '03 to
Feb I '06. Feb 23 '05.
»,
T„„^
income from
investments in other companies S2, 719, 595
§1,643,677
Dividends paid to shareholders of the Mackay
Companies
82,332,492
81,559,843
Oper expenses, inc. transfer agents, registrars'
and trustees' fees, office rent, salaries, &c...
23,186
20,035

[TOL. LXXIIL

to our iiivesiiiieiit in the preferred stock of the Canada Car Co., Limited
(V. 79, p. 2749, 2459.)
The common stock of lliis corporation. |which
to us, is not to be included until wi- can learn its eariiing power.

came

PalcntK.'UuniiK the year 20 additional patentu have been takt-iijout
and a number of important ap[jlications are pending. Vour company
has also completed royalty contracts with a number of prominent trunx
lines, and have others under lu-g.itiation.-reducing the ({uaniiiy of material necessary for the roads to carry in stock lor repairs.
Joliet Plant to Ht Cloned.
During the year it was decided not to renew
operations at Johi't, but to remove all of the available machinery to
Allegheny and McKees Rocks plants to be used in conneclioii willi the
additions that have been authorized in order to increase the output of
the.se, [ilauts.
(When these additions and improvements have been
completed, the McKees llocks plant will have been increased in its daily
capacity by 50 cars.)
«-f
["The company at its works at .\llegheny and at McKees Rocks will
'
have a capacity of 150 freight cars i)er il
:^i:l or steel and wood
composite curs, in addition to Its specj;
as Fox truck frames,
bolsters, mining cars, iVc.
car shops, just comIts new stc
plete<l, have a caiiacitv of 750 steam and .stm. i railv.ay cars per annum."}
Pennsylvania Car Wlieel Co. This comiiany made during the year
171,460 wheels and showed satisfactory earnings. After making provisions for guaranties of renewals of wheels and depreciation of properties, a substantial dividend has been declared.
[The plant has a capacity of 250,000 car wheels per annum.]
Pennsylvania .Malleable Co.— Bonds. During the year the Pennsylvania
Car Wheel Co. acquired a majority of the stock of the Pennsylvania Malleable Co., which controlled the Cfiitral Car Wheel Co., both companies
having plants adjacent to our works at McK< es Rocks. Tlie purchase
nece.s.sitated no iucrea.se in the capital of the Penn.sylvania Car Wheel Co.,
but as the Pennsylvania .Vlalleaole Co. has a large floating debt, it is
necessary to consoUdate this debt.
This will be eiTected by an issue of
bonds of the Penn.sylvania Malleable Co. The Penii-sylvania Malleable
Co. has a capacity of 1 ,800 tons of mallealile and steel castings per month,
and the Central Car Wheel Co. has a capacity of 100,000 wheels per
annum.—V. 81, p. 1502, 1243; V. 70, p. 692.
Fidelity Land Co.
We have si)eiit more money than usual on repairs
and improvements, yet a dividend of 6% has been declared out of net
earnings after setting aside a sum for taking care of the unpaid 850,000

—

'.'

I

—

—

—

mortgage.

—

Western Steel Car & Foundry Co. The gross sales for the year were
87.503,194.
The addition for the construction of steel underframe cars
at this plant was conii)lited in December 1905, so that the capacity of
Hegewiscli has been increased ten cars per day.
Further additions will
be completed by June 1 and after that date the combined plants of the
W^estern Steel Car & Foundry Co. at Hegewi.sch and Anniston will
have a capacity of upwards of 100 cars per day. The business already
contracted for warrants these improvements. The Anniston plant now
produces its requirements in bar iron and malleable and gray iron castings, and is averaging in outi)ut nearly 20 cars per day.
The operations
of the Western Steel Car & Foundry Co. have warranted the payment of
a 0% cash dividend.
Canada Car Company, Limited. The plant at Montreal went into
partial operation about Nov. 1 1905. and at this writing is running over
50% of its capacity. Considerable difficulty has been experienced in
securing competent workmen, but it is hoped that very .shortly these
works will be running to their full capacity. The plant has capacity
for 6,000 freight and 150 passenger cars per annum.
,

—

The results for three years past and the balance sheets of
Dec. 31 for two years are as follows:
Profits

1904.
1905.
8
S
1.106.901 loss707,lll

—

Deduct
Dividends preferred stock
Dividends common stock. z
Depreciation

1903.
S

2,768,897
I

u

(7)875,000
(3)375,000
80,000

(7)875,000
(5)625.000
260,000

56,901 def2, 037, 111
2,531,874
4,568,985

1,008,897
3.560,087

2,531,874

4,568.985

>S75.000

175,000

Balance, .surplus
Previous surplus

Net surplus

2,588,775

These are the dividends actually paid during the years named; the
company, however, char.ges its common dividends against the surplus
z

earnings of the previous year.

•

Balance carried forward.

S363.917

863,799

BALANCE SHEET.
^'*-

SI

°^- ^**- -^
1
'"^t
S

—

^'^- 1 "OeAssetsAsseis—
r
^r,Liabilities
S
invesim t.sinotner
pppf sliares issued 40 M'\ fion
companies.. ...82,.3.36.332 76,602.574 Com.Ses'tem^^
117.386
\-340,.539lRe.servefore.\p'ses
r^^^-'-l.
Other cash asseta.

'•

i

479.985 Balance, proflt...

_v°*^i ---VnV--^2,453.718 77,422,S99(

Total.

Fel,.

23 'Oo.
S

•^';

427.718

oks vnn
10 000

BALANCE SHEET DEC.

31.

1904.
1906.
1004.
Liabilities
S
S
$
Prop, and franch.25.Sl.S.622 26.043.767 Common stock ...12 .500.000 12,600.000
Stocks owned
2.052.554 1.712,881 Preferred stock... 12 500.000 12.500.000
Taxes & insurance
1st M. sold notes. 3 000.000
3,500.000
not accrued
24.936
22,057 Purch. money M..
310.000
310,000
Accts. receivable . 1.826.112
493,251 .Accounts payable. 4 ,156,.3S1
844.997
Materials on hand. 4.920.253 2,164,390 Accr'd sal.* wasci
8S.255
184,018
Cash
878,040 2,130,517 .\cc'd div'ds. prof.
21S.750
218,750
Accrued interest..
62,693
72.988
Surplus
2 588,775
2.531.873

1905

—

.

I

—Total
V. 81,

Total

.35,520,517 32,566,863

35.520.617 32.666.883

p. 1243.

(33.799

American Writing Paper Co.

82.453.718 77.422,899

(Report for Fiscal Year ending Dec. 31 1905.)

Pressed Steel Car Company.
(Report for Fiscal Year ending Dec. 31 1905.)
President F. N. Hofifstot says in part:
General ResuUs.— In the year 1905 the railroads of the United
States
ordered more cars than ever before in their history.
In our last annual
s'''',*'". ">'"'t
"'<• average annual refiuirements were about
n?K"nnr.^^'*'
195,00(3
cars; during the years 1903 and 1904 only 240,000
cars were
ordered.
In 1905 over 340,000 cars were ordered.
It is gratifying to note the continuing tendency
of substituting st(>el
for wood in all freight-car construction.
Of the cars ordered during 1905,
almost 50% were all steel or steel underframe construction
l;pon the nnival of bu.siness in the year lOO.'S, the <limculty presented

securing skilled workmen and it was not until the fir.st of Vugu.st
that we reached a normal basis, and in coiise(iueiue our outi)ut
suffered
dunng this period. At present our enii)lovees iiuinl)t'r 8,000. while
at
the first of the year 1905 we were able to employ ordv about 2.400
Our gross sales for 1905 were 819,357,827 ((-.()"; of tliis being done the
a.st hve months of the year).
On this the net profits were 81 100 90'^
liesides maintaining the i)roperty and machinery in the highest
state of
repair, we have made a dei)reciatiou charge a^'ainst properties
and franchises of $175,000.
The n.sual dividend of 7Vf per annum was paid on
the preferred stock.
Pnssrnger Car Plant, A-r.—Yor .several years the company ha.s been
eepecially engaged in designing pa.ssenger cars to be constructed
of
steel, or steel in connection witli fire-proof material, for
use on steam
and electric railways. The results show that tlie comiianv can produce
a car with little additional weight over the wooden car now generally
u.sed. and is able to biiikl such cars for little increased
cost.
Accordin irly works for Die construction of passenger cars are now
almost completed, and early in the year will be in actual operation, as
a number of
orders have already been booked for all-steel, steam and electric cars
It Is less than ten .years since one of our constituent
companies built
the first .all-steel freight car now used in regular freiifht traffic
At the
end of this year there will be approximately half a million steel and steelnderframe cars In .service.
SU)«1u and Se^itritics.
The increa.se in "stocks and securities" is due

The

and

profit

loss

Net earnings

&c

Interest,

Total net
Interest on

Expen..

income
bonds

iiicl.

.

niaint.

190-t.

I,;i03,044

126,933

1,632,,561

1903.
8
1,304,806

1902.
S
1,742,168

141,307

109,046

85.194

1,429.977

1.773.928

S50.000
215.341

850,000
210.172

1,473.852
850.000
214.848
34,894

1,827.360
850,000
222,178

^

off

4S2",(i6,5

Sinking fund

Itself of

—

1905.
8

.Miscellaneous

Charged

'

account and balance sheet follow:

Balance, surplus...

100.000

124,375

115,575

108.850

1,165,341

1,667,152
106,776

1,215,317
258,535

1,181,028
646.332

264,636

BAL.\XCE SHEET JAN.

1.

1906.
1905.
190«.
1905.
Liabilitifs
S
S
$
$
Plant* real estate 16,604,534 16.613.64() Profrrrcd stock... 12.500.000 12.500.000
Good-will. &c
18.010.1.50 IS.OlO.lSOi Common stock ...11.500.000 11.500.000
Cash .
605.77
1,359.(>32|5 o bonds ..
-.17,000,000 17,000.000
Accts. recplv.ible . 1,204,805
1.172.631 Accounts payable.
16,260
64.603
Notes receivable..
150,847
116.:iOS!Slnk. fund reserve
39S,S00
630.700
Company bonds.
82 1.6 IS
475.433 Surplus
1,502,047
1.237,410
10.235'
Mlsccll:iiu'ou,s
10,2.35
Sup. <t ni.itorlals . 3,030.337 2,534,9.S5
Sinklns? fund
530.700
398.8001
Treas. com. stock. 2.000.000 2,000,000;
Assets

—

—

I

1

1

—Total
V. SO,

.

..43,059,007 42,690.8191

Total

..

...43.069,007 4t,690,819

p. 2459.

United Box Board

&

Paper Go.

(Report for Fiscal Year ending Dec. 31 1905.)
A tj'pewrittcn report under date Feb. 15 1906 says:
On Dec. 31 1905 the outstanding underlying liens and encumbrancot
of your company were 81.166.000. and the outstanding bonded debt
was <1, 300, 000. Since that dat« arrangements have been perfected and

Febw

L>4

THE CHRONICLE

1906.1

*re"now being concluded looking toward the retirement of said bonds
the issue in their stead of 20-year 6% gold bonds redeemable at the
rate of S50,000 per annum, first paj-ment on account of such retirement
made on Jan. I 1907.
be
to
Of the shares of stock of the American Strawboard Co. which were
sold in December 1904. there have been re-acquired 41,5.53 shares, in
payment for which there have been issued 81,253,200 collateral trust
debentures of tliis company, payable in tw enty years and bearing interest
at'6% and subject to retirement tlirough the operation of a sinking fund

and

_

wliich will be established at the rate of 550,000 per
1 1908.

annum, beginning

The results for the year ending Dec. 31, including subsidiary companies, compare as follows:
1904.

1905.

-----

Administration and selling
Shut-down and dead-mill expenses
Depreciation on stock
Repairs to plants
Interest

S912,804

81,183,785

S267.268
152,010

$231 ,774

\

214,06<>

23,938
174,047
282,145

/

;i91,151\
228,297

..

S925.970
$838,726
8257,815
874,078
Net profits
The assets other than plant, real estate and investment,
accounts and its liabihties other than underlying liens and
bonds, compare as follows:
Total deductions

1905.
81 10,622

Current Assets—
Cash ia bank and In hands of mill cashier
Notes and accounts receivable
Adjustment and suspense accounts

1904.

$360,694
582,427

656,494
555,105
457,517

inventories, Incl. materials & supplies at mills.
Due from purchasers of stock of American Straw-

781,953
1,000,000

board Co

I:.

Total
Current LiabilUies

f.-

—
subscription

$185,000

int.

$1,155,684
298,329
39,925

388,7.50

223,430
43,972

Accounts" paj'able

Accrued

82,725,074

$1,779,738

Notes payable sec. by pledge
r-'American Strawboard stock
Notes payable

on bonds and underljing bonds

S--

"TTotal
Excess of quick assets over

S841.152
8938.580

liabilities

Compare balance sheet
low.— V. 82, p. 396.

of

81,493,9.38

81.231.136

American Strawboard Co. be-

{Balance Sheet Dec. 31 1905.)

—

1905
1904.
LiabilUies
$
Plants and patents.. 6,326.610 6.286,413 Capital stork
425,000 Accounts payable
425.000
Stores
57.739 Bills payable
Personal property
52 ,340
55.4S0 Bonds
Merchandise
36,429
221,613 .\ccrued Interest
Supplies
154.133
4.500
14.776 Surplus
Bills receivable
261.962
Accounts recelTable. 228. 74S
123.719
Cash
40.299
271.043
269.328
Investments

—

Total

Total

7.545,103 7,716.030

1904.
S
$
6.000,000 6.000,000
31.671
IS, 207
75.000
330.000
370,5S9
323.000
8.075
10,300
1,107.357
986,934
1905.

7,545,103 7.716,030

Compare United Box Board Co. above.

—

—

—

Central Market Street Ry., Columbus, O. Sold. At the
receiver's sale at Columbus, O., on Feb. 20 the property was
bid in by A. E. Locke of Boston for $150,000, subject to
$500,000 first mortgage bonds.— V. 82, p. 160.

—

Chesapeake & Ohio Ry. Rate Decision. The United
States Supreme Court on Feb. 19, Justice White writing
the opinion, on a complaint brought by the Inter-State Commerce Commission, held that the company, under a contract
made in 1896, could not sell and deliver coal to the New York
New Haven & Hartford RR. at a price which would, at the
prevailing cost price, leave a margin for transportation of less
than the published freights. The general theory of the
opinion, wliich is given at some length in the New York
"Sun," "Herald" and other papers of Feb. 20 is that, inasmuch as the Inter-State Commerce Law provides that no
departure from the published rates shall be made "directly
or indirectly," the carrier cannot, because he is also a dealer
in a commodity, be excepted from the operation of the
"Statute, the purpose of which is to prevent unjust and unreasonable rates and to prevent favoritism. The decision,
it is understood, holds that the Inter-State Commerce Act
does not affect those railroads which, prior to the passage
of the Act in 1887, were granted the right by their charters
or legislative Acts to engage in other business, the vested
rights so acquired not being subject to restriction by subsequent laws. Among such roads are the Delaware & Lacka^vanna, Lehigh Valley and other "anthracite" roads
V. 81, p. 1790.

— V. 80,

p. 873.

—

Chicago & Alton RR. See Chicago & Alton Ry. below.
Chicago & Alton Ry. Consolidation Plan. A circular
dated Feb. 16 proposes the consolidation of the Chicago &
Alton Railway and the Cliicago & Alton Railroad (all the
capital stock of the latter except $7,300 preferred and
$438,700 being owned bj^ the railway company), on the
following terms, which will be submitted to the shareholders
of the two companies at meetings to be held on March 8:
New Stock Aggregating S40,000,000 to Be Issued by Consolidated Company.

(Balance Sheet Dec. 31 1905.)
1905.
$

—

—

1904.
$

depreciation ... 9,253.029

Cash
Accounts and

190.850
bills

receivable
Materials and supplies

Total

342.565

850.110

9,208.059 Bonds outstanding 1,632,000
242.065 Accounts payable
(includ. wages).
64.723
359.489 Int. & taxes accr'd
39,734
Dividend
58,543
832.967 Surplus
1.135.854

10,636,554 10.642.580

Total

(M%

1904.
$
,805,700
.533,000

57.405
40.741
58.543
.147.191

10.636.554 10.642.580
quarterly), calling for

Dividends at the rate of 3% yearly
During 1905 $51,000 bonds
$234,171, have been paid since July 1904.
were redeemed by the sinking fund and canceled, making a total of
$510,500 canceled to Dec. 31 1905. On the date last named there were
held in the treasury $457,500 bonds (against $507,500 Dec. 31 1904),
$50,000 haring been issued for the purchase of new plant iu 1905. V.
80, p. loss.

—

GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING STREET ROADS.
& Susquehanna RR. New Mortgage. A mortgage
has been filed to the United States Mortgage & Trust Co.
of New York as trustee to secure the $10,000,000 of 3^^%

—

Albany

gold bonds which will be issued to refund the 6% and 7%
bonds for a like aggregate amount maturing April 1 1906.
The new bonds will be guaranteed, principal and interest,
by the Delaware & Hudson Co. In June last they were
offered at par pro rata to the stockholders of that company. See V. 80, p. 1174, 1362, 2343.— V. 81, p. 1847.
Boston & New York Air Line. Offer to Purchase. The
minority stockholders have received a circular from the
New York New Haven & Hartford RR. Co. which, at last
accounts, owned $1,766,000 of the $2,998,000 preferred and

—

$751,100 of the $909,468 common stock, asking them to
what price they are severally willing to take for
state
their holdings.— V. 81, p. 1492.
Cairo & Kanawha Valley RR.—Sold.—A press dispatch
from Parkersburg W. Va., states that this 17H-mile road,
extending from Cairo to McFarland, in RitchiefCounty,
W. Va., has been sold, for a sum stated as about $100,000,
to a syndicate represented by Charles F. Teter and A. S.
Moore, of PhiUppi, and C. B. Kefauver and T. R. Cowcll,
of Parken^burg.
It is said the purchasers are identified

with the Baltimore

&

Ohio

RR.

Canada Atlantic Ry.— Right

—

to

4%
4%

$100
1905.

Liabilities
S
Capital stk. issued 7,805.700

Cost property less

—

participating and prior hen stock" entitled
in addition to prior right to accumulative dividends at
the rate of
per annum, to receive additional dividend*
equal to the rate of dividends, if any, declared on the
common stock of the consolidated company, par of share*

"Cumulative

American Sewer Pipe Company.
Assets

—

—

American Strawboard Company.
Assets

the company to acquire, hold, pledge and dispose of shares
of the capital stock and bonds, debentures, or other securities,
of the Pembroke Southern Railway Company, and to guarantee paj^ment of the principal and interest of the bonds, debentures or other securities of the said Pembroke Southern
for a principal amount not exceeding $150,000.
V. 81,
p. 1609.
Sale of Land.
Canadian Pacific Ry
See Western Canada
Land Co. under Indu.strials below.
Proposed Union Station. See Toronto Union Station Co.
below.— V. 82, p. 333.
.

Oct.

Gross profits....

451

Guarantee Securities of

Pembroke Southern Ry. AppUcation, it is announced, will
be mode to the Parliament of Canada for an Act to empower

Of which,

in

exchange

$899,300
for S7,300

outstanding

preferred stock of the railroad on basis of $3

forSl
For the $438,700

$21,90*
common stock on the basis of
$2 for $1.
877,400
New preferred stock to be exchanged for an equal amount of
"preferred stock" of the Railway Company (par $100)
«:19,557,900
Common stock to be exchanged for an equal amount of common stock of Railway Company (par SlOO)
«19, 542,800

X In order to confine the capitalization to $40,000,000, 8,993 shares
of the authorized, but unissued, preferred and common stock of the
Railway Company in its treasury are to be canceled.

"The mortgage of the Railway Company to the Farmers'
Loan & Trust Co. becomes under the consohdation a lien
upon the property and franchises of the railroad company,
•

subject to the lien of the mortgage securing the 3% refunding'
bonds of the railroad company and to certain obligations
and liens existing at the time of the obligation.
"Due provision is made for retention in the consolidated
company of all the rights and franchises of both the Railroad Company and Railway Company. While the effect
of the consohdation will be to merge the Railroad Company
into the Railway Company, it has been deemed advisable,
on account of the good will attaching to the name, to provide that the consolidated company shall be designated

"The Chicago
Alton Railroad Company." But,the directors, officers and executive committee of the Railway Company are to be retained for the terms for which they were
elected in hke positions in the consolidated corporation."
New Director. B. F. Yoakum, Chairman of the Rock

&

—

Island

Company, has been

elected a director of the Chicago
Alton Railway, which is controlled by the Rock Island
and Union Pacific systems, to succeed W. B. Leeds. V. 82.

&

—

p. 333.

—
—

Chicago & Eastern Illinois RR. Coal Properties. See
Dering Coal Co. under Industrials below. V. 82, p. 48.
Chicago & Illinois Midland Ry. Mortgage, &c. This
company, organized in 1905 as the Central Illinois Ry., its
name having been ch.angcd and its authorized capital stock
increased to $2,000,000 by vote of the stockholders at a
meeting held on Dec. 30, has taken title to the Pawnee RR,,
which runs from Auburn on the Chicago St Alton Ry. to
Pawnee, 111., 9 miles, and is extending it easterly 17 miles to
Taylorville, on the Wabash RR.
For the purpose of
paying ex'sting indebtedness, to provide for the reconstruc-

—

tion of the road, and for the building of the Taylorville extension, as also for future requirements, a mortgage hcM been

— — — — ———

—

———— —— —

—
,

— —

THE CHRONICLE.

452

the Illinois Trust & Savings Bank of Chicago, as trustee.Ho secure $5,000,000 bonds, to beur not exceeding 5%
interest, and to mature Teb. 1 195G, but to be subject to
call at such date and at such premium as the directors shall
from time to time decide for the several issues. The bonds
filed to

are issuable as follows:
issued forthwith on the above-mentioned 26 miles

To be

.

[Vol. tytttt,

by Canadian Pacific Railway Co. $17,200 of these car
trusts become due July 1 1906 and a like amount each six
months thereafter until Jan. 1 1911. They are secured by
cars which cost $209,300 and for which a cash payment of
$37,300 was made.— V. 81, p. 1042.
Georgia Railway & Electric Co., Atlanta. Independent
Company. See North Georgia Electric Co. under "Induatrials" below.— V. 81, p. 1665.
Grand Trunk Ry. Proposed Union Station. Guaranty of

—

of

5%, issue to be dated Feb. 1 1906
and to be redeemable on Aug. 1 1910 and on any interest
date thereafter at 110
Furtlier issues from time to time on account of additlonall

—

road; interest rate to be

$780,000

Further issues from time to time on account of permanenty $4,220,000
additions (other than railroad track and ri^lit of way), after
Feb. 1 1906, which further issues shall not exceed 85% of
the cost thereof

A

majority of the company's outstanding ($1,000,000)
capital stock is owned by the interests that control the
See that company in V. 82, p. 51
Illinois Midland Coal Co.
and "Industrials" below.

Chicago & North Western Ry. Right to Subscribe to New
Stock.— Thv sharehoklers of record on April 2 are offered
the right to subscribe at par on or before May 1 to $16,267,400

—

— See

T(jrouto Union Station Co. below.
Grand Trunk Branch Ldnes Co. See Grand Trunk Pacific
Ry. in V. 82, p. 333.— V. 81, p. 1791.

Bonds.

sins^le-track railroad at not exceedinf; S.30,000 per mile

—

—

Gulf & Chicago Ry. Co. Application to List.
The New
York Stock Exchange has been requested to list $3,724,000
first mortgage 5% bonds of 1953.— V. 77, p. 36.

—

Hocking Valley Ry. Co. Application to List. The New
York Stock Exchange has been requested to list $1,000,000
first consolidated mortgage 4J4% bonds of 1999, making the
total listed

$14,139,000.— V. 81,

p. 916, 897.

Huntingdon & Broad Top Moimtain RR. & Coal Co.
of their respective
The results for the year ending Dec. 31 compare
Subscriptions are Earnings.

stock in amount ecjual to 20%
holdings, either common or preferred.
payable on or before June 1. The proceeds will be used
to "improve and extend the company's property and to
provide additional equipment, as well as for other proper
corporate purposes." It is undenstood that a portion of the
funds will be used to reimburse the company for expenditures already made on improvements and extensions, but
up to this time not capitalized. V. 82, p. 279.

common

—

Chicago Rock Island & Pacific Ry. Control of Bering
Coal Co. Sec that company under "Industrials" below.
V. 82, p. 280, 99.

—

—

Chicago & Western Indiana RR. Called Bonds.
Seventy-one (871,000) general mortgage bonds of 1882
drawn for redemption are payable on March 1 at 105 and
interest at office of J. P.

Morgan & Co.— V.

81, p. 1492.

Maturing Bonds.— Bonds Nos. 1
Cincinnati Street Ry.
to 1,200, inclusive, of the Mt. Adams & Eden Park Inclined

Railway (consols) mature March

1906 and will be re-

1

at either the First National Bank or
V. 81, p. 1043.
the Citizens' National Bank of Cincinnati.
Southwestern Ry.— Sold. At
Columbus Grove City
the receiver's sale at Columbus, O., on Feb. 20 the property
was bid in by A. E. Locke of Boston for $35,000 subject to

deemed on that date

—

—

&

$208,000

first

mortgage bonds.

The purchase

of this prop-

erty and also the purchase of the other divisions of the former
Appleyard system by Mr. Locke, as mentioned elsewhere in
this issue, are supposed to have been made on behalf of the
Elkins-Widener syndicate of Philadelphia. Compare United
Gas Improvement Co. in V. 81, p. 731, 977, 1727.— V. 82,
p. 160.
Columbus London & Springfield (Electric) Ry. Sold
At the receiver's sale at Harmony, Ohio, on Feb. 19. this
company's property was bid in by A. E Locke, of Boston,
for $250,000, subject to $1,500,000 first mortgage bonds.

—

V. 82, p. 160.

—

&

Urbana Ry. Sold. At the reDayton Springfield
ceiver's sale in Springfield, Ohio, on Feb. 19, this company's
property was bid in by A. E. Locke, of Boston, for $600,000,
subject to $750,000 first mortgage bonds.— V. 82, p. 160.

& Hudson

—

New

Stock Authorized.
The
shareholders on Feb. 19 duly authorized an increase of the
capital stock in the amount of $7,000,000 as provision for
10-year debentures,
a proposed issue of $14,000,000
to be convertible into stock within five years, beginning one
year after date thereof, on the basis of $200 debentures for
$100 stock. Shareholders of record Feb. 19 are offered
the privilege to subscribe for the new debentures. The debentures will be $1,000 gold, dated June 15 1906. See full
particulars regarding purpose of issue in V. 82, p. 217.
Holders of record Feb. 19 are entitled to subscribe at par
between March 15 and 20 1906, inclusive, for one such
$1,000 debenture for every 30 shares of stock held by them
Subscriptions can be made only on the comrespectively.
pany's wai-rants, and assignees of warrants must have them
registered on or before March 14 and exchanged for new
Payments may be made cither in full between
warrants.
March 15 and 20 1906,inclusive,or in two installments of 50%
($500 per debenture) each, the first between March 15 and
20 1906, inclusive, and the second between May 21 and 25
Upon surrender of full-paid purchase certifi1906, inclusive.
cates at the office of the company, No. 21 Cortland St.,
New York, on and after June 15 1906, the debentures covered thereby will be delivered.

Delaware

Co.

4%

Guaranteed

above.— V.

Bonds.

— See

82, p. 217.

Albany

& Susquehanna RR.

—

At foreclosure
Dillsburg & Mechanicsburg RR. Sold.
sale on Feb. 3 this company's 10-raile road was bid in for
$50,000 by the Cumberland Valley RR., which, it is said,
holds the total outstanding $100,000 first mortgage 6%
bonds.
Duluth South Shore & Atlantic Ry. —Offering of GuaranFrank S. Butterworth, New Haven, is
teed Car Trusts.
offering on a 4J^% basis $172,000 car trusts, dated Jan. 1
Denomination $1,000
Interest January and July.
1906.
and $100. Guaranteed by endorsement on each certificate

—

—

as follows:
Year.

Net.

Gros.^.

1905... 8797,467
1904... 676,531

Olh.inc.

S353,153
252,387

$1,250

Bond int. Dividends.
8106,190
106,190

$110,000
133,717

||J
Bal., surt

$136,963
13,730

Dividends as above include $110,000 (53^%) on preferred
$120,000 (6%) on preferred and $13,717
(1%) on common in 1904.— V. 82. p. 100.
Illinois Central RR.
Purchases by Harriman Interests.
Circumstantial statements seem to confirm the report that
the Harriman interests have been increasing materially

in 1905, against

—

—

company's stock. V. 81, p. 1723, 1665.
Interborough Rapid Transit Co. Cost of Electrical Equipment.
President August Belmont, under date of Feb. 15,
has written a letter to the "New York World," correcting
misstatements respecting the cost of equipping the Subway.
their holdings in this

—

This letter gives the following facts:
The cost of the equipment has exceeded 823,000,000, against vouchers
in hand, and the amount still to be paid will carry the same up to nearly
$25,000,000. A full settlement with the city lias not yet been made
for tlie construction of the Subway, but there does not appear to be for
the construction company's profit quite $1,000,000 on the entire work.
city has, therefore, received full value for its contract, and the
Interborough Company is obligated to pay the interest on that money,
now about $38,000,000, and will shortly be paying out of its earnings
1% additional toward the sinking fund for the amortization of the
bonds issued for construction, so that in forty-nine more years the city
will have all its outlay reimbursed to it, capital and interest.

The

In response to queries put to him by a representative of
the "New York Times" (see the issue of that paper for
Feb. 18), Mr. Belmont said:
The amount of 823,000,000 given refers only to the equipment of the
Subway. Under the contract the lessee is obliged to furnish powder,
power-house, sub-stations, the cars, and everything required to operate
the road.
This is the equipment upon which, under the contract, the
city has a lien.
No equipment for the use of the Manhattan Elevated
Road is included in this amount. Tlie Interborough leases the elevated,
and therefore all charges for equipment on that system are chargeable
The Interborough has spent
to the Manhattan Elevated Company.
under .separate equipment account charged against that road $2,000,000
When the
since it began operating the Manhattan on .\pril 1 1905.
equipment of the Subway is finished, the figures will amount to over
$24,800,000 under contracts to be fulfilled. There will, of course, be
an addition to this on account of the Brooklyn extension, which will
carry it higher by at least 81,000,000 and probably $2,000,000.— V. 82,
p. 218, 160.

—

Lehigh Valley RR. New Director. S. P. Wolverton has
been elected a director to succeed the late Alexander B. Coxe.
V. 82,p. 161,100.
Metropolitan Street Ry. Decision as to Transfers. The

—

—

the First Department on Feb. 9
(Justice Ingraham writing the majority opinion, concurred

Appellate

Division

of

by Justices Laughlin and Houghton and Justices O'Brien
and Clarke dissenting) affirmed the decision of the lower
courts in the case of one Senior against the New York City
in

Ry., holding that the company is not obliged to give transthe Metropolitan lines at 42d Street over the lines
of the 42d Street Manhattanville & St. Nicholas Ave. Ry.
The court holds that the ownership of a greater part of the
stock by the lessee, Third Ave. RR. Co., does not imply
such control as to bring the case within the meaning of the
Railroad Act and that the evidence was conclusive that the
two roads are run independentlj' and managed by distinct
corporations.— V. 82, p. 392, 161.
Michigan Central RR. Description of Proposed Tunnel of
See illustrated article in "Railway
Detroit River Tunnel Co.
Age" of Feb. 16.— V. 81, p. 1789.
Montreal Street Railway. P^irchase. A press despatch
states that this company has purchased the Montreal Terminal Ry. (V. 79, p. 2796, 2697, 2085), the only independent
trolley line in the city, for a sum said to have been $500,000.
V. 81,p. 1550, 1434.
Montreal (Electric) Terminal Ry. See Montreal Street Ry
fers for

—

—

—

—

above.— V. 79. p. 2796.
New York Susquehanna

—

& Western RR. Called Bonds.
Twenty-five ($25,000) first mortgage bonds of the Susquehanna Connecting RR. Co. have been drawn for account
of the sinking fund, and will be redeemed by the Metropolitan Trust Co., trustee, No. 49 Wall Street, New York
City at $1,050 per bond, on March 1 1906.
first mortgage bonds of the New York
Western^Coal Co., dated March 1 1887,

Twenty ($20,000)
Susquehanna

&

FEa

THE CHRONICLE.

24 1906,1

have been drawn for the sinking fund, and will be redeemed
by the County Savings Bank & Trust Co., Scranton, Pa.,
at $1,100 per bond, on March 1 1906.— V. 81, p. 1371.

Ry. — Allied

—

—

—

—

—

Pennsylvania RR. Proposed Purchase. The shareholders
will vote at the annual meeting on March 13 on agreements
for the acquisition of the franchises, corporate property and
rights of the Allegheny Valley Railway Co., South West
Pennsylvania Ry. Co. and York Haven & Rowenna RR.

Co.— V.

82, p. 281, 162.

INDUSTRIAL, GAS AND MISCELLANEOUS.

—

—

Alabama Steel & Wire Co. Called Bonds. This company,
now
controlled by or merged in the Southern Steel Co.
See
(compare V.

Coal Property.
Ohio River & Western
Ohio River & Western Coal Co. under "Industrials" below.
V. 80, p. 1913.
Pawnee RR. Successor. See statement regarding ChiV. 72, p. 873.
cago A Illinois Midland Ry. above.

—

453

—

81, p. 1796, 1677), has called its entire issue of
bonds of 1923 for payment at 105 and interest
at the Bankers' Trust Co., New York City.
V. 81,

6%

$750,000

on May

1

—

p. 509, 1666.

—

—

Algonquin Printing Co., Fall River. Stock Dividend.
capital stock was increased on Feb. 13 from $160,000
to $500,000 by a stock dividend of 2123^%, which was declared, "for the purpose of making the capital more nearly

The

represent the value of the property." The plant is said to
have a capacity of about 55.000 pieces of calicos a week.
AUis-Chalmers Co. Litigation. See Westinghouse Machine Co. below.
V. 81, p. 1494.

—

—

—

Additional Prior Lien
P Quebec & Lake St. John Railway.
American Bank Note Co. Successor Company. See
Bonds. The holders of first mortgage bonds at a meeting in
London on Feb. 7 unanimously adopted a resolution ap- United Bank Note Corporation below. V. 82, p. 336, 102.
proving the creation and issue of £150,000 additional prior
American Brake Shoe & Foundry Co. Extensions and
lien bonds, making, with former issues of similar bonds, an Additions.
This company, it is announced, has extensive
such
of
bonds.—
V.
281.
aggregate of £500,000
82, p.
improvements and additions under way at nearly all its fourQuebec Southern Ry. Payment Paid in Full. The final teen plants.
At Chattanooga, Tenn., a plant with twice the capacity of the present
payment of 1850,000 due on the purchase price of $1,051,000
works will be erected, and the old plant will be sold. The main foundry
has been made in the Exchequer Court by Hon. Senator building
at Buffalo is to be extended, an office building and pattern storeF. L. Beique, the purchase including both the South Shore house erected and a large amount of new machinery and equipment installed.
The iron department at Chicago Heights, 111., is to have the
The
Delaware & Hudson
and Quebec Southern railways.

—

—

—

—

—

interests are in control.

—Compare

V. 81, p. 1611.

RR. —Bonds Of-

—

Stock: Preferred (representing cash investment|of over $1,500,000),
Bonds: Issued for railway between
$2,500,000; common, $3,500,000.
Rochester and Lyons, $2,000,000; to be issued to complete remainder of
line from Lyons to Syracuse, $3,000,000; total bonds authorized on present property, $5,000,000. Additional bonds reserved for future extensions and additions at not exceeding 75% of cost, $2,500,000. The road
connects Rochester and Syracuse, the two largest inland cities in the
State, aggregating, with intermediate cities and towns, over 300,000
population. The entire length is over its own private right of way except
through intervening cities and towns, which have granted the company
perpetual franchises and which will now have local service for the lirst
time. The first section, between Rochester and Lyons, for the completion
of which the above $2,000,000 bonds have been issued, is practically completed and will be ready for operation during the spring of IflDo. On this
division the officials expect in the first year earnings ol not less than
$320,000; operating expenses (including taxes and insurance), say $185,on $2,000,000 bonds,
000; net earnings, $135,000. Interest charge of
JIOO.OOO; net surplus, $35,000.
An officer of the road writes: "The road completed from Rochester to
Syracuse, we confidently expect will be earning upwards of $1,000,000
per annum before the end of its first five years of operation." -V. 80,
p. 2459.

5%

•

—

—

Rutland (Vt.) Railway, Light & Power Co. Consolidation.— This company was formed on Feb. 1 1906 by consolidation of the Rutland St. Ry. (V. 81, p. 727), People's Gas
Light Co. (V. 81, p. 671; V. 72, p. 876), and Chittenden
Power Co. (V. 81, p. 670, 1667). Authorized capital stock
$2,000,000, of which $1,500,000 outstanding. An issue of
5% gold bonds due in 1946 is propo.sed; probable amount
$2,000,000, with $1,200,000 outstanding. "Present indebtedness $1,350,000, all to be wiped out." President, G. T.
Rogers; Vice-President, Leo H. Wise, No. 64 Leonard St.,
New York; Secretary and Treasurer, C. H. West.

—

—

IBRutland (Vt.) St. Railway. Consolidation. See Rutland
(Vt.) Railway Light & Power Co. above.— V. 81, p. 727.

San Antonio

&

Aransas Pass Ry.

— New

Officers.

— On

Feb. 17 W. H. Mclntyre of New York was elected President
and A. M. Hobbs (former head of the Rock Island Railroad,
in Iowa) Vice-President and General Manager.
Mr. Mclntyre is quoted as making positive dcclarationMthat E. H.
Harriman has no control

of the Aransas Pass; also that the Southern
not in the slightest connected with the road.
He is fnrtlior
quoted as saying that Mr. Harriman owns a small portion of the stock
personally, but not a controUing share, while he himself is associated
with Eastern financial interests in the ownership, controlling personally
the majority of its stock.
V. 80, p. 473.

Pacific

is

—

Texas

—

—

New Bonds. Vice-President and
General Manager Col. Charles Hamilton is quoted as saying:
"The bond issue of $650,000 was entirely legal and will
bear investigation, if such is demanded by the Texas Railroad Commission. We are preparing an is.sue of $700,000
4% bonds to cover the cost of our Western extension and
our branch line, and we intend applying to the Commission
for authority to do so.
We will also apply to the commission
for authority to cancel unsold 5% bonds and to substitute
them with 4% bonds.— V. 81, p. 1098.
Central

Ry.

—

—

Proposed New Company.
given that application will be made to the Canadian
ParHament for authority to organize this company with
power to purchase the present Union Station property at
Toronto and also to authorize the Grand Trunk Railway Co.
of Canada and the Canadian Pacific Railway Co. to subscribe for, acquire and hold stock in and to guarantee the

Toronto Union Station Co.

Notice

is

bonds^of|jihe]ji;corapany.

—

—

Rochester Syracuse & Eastern (Electric)
E. H. Gay & Co. some time ago offered a block of
$5,000,000 first mortgage 5% 40-year bonds, dated May 1
1905, a first lien on 80 miles of double-tracked street railway
to be operated between Rochester and Syracuse, N. Y.,
through a thickly-settled district. The first section of the
road between Rochester and Lyons is practically completed
and will be in operation within a few weeks. Against this
trackage of about 40 miles $2,000,000 of the $5,000,000
bonds have been issued, and the unsold portion is offered by
advertisement on another page at par and interest.
The
advertisement says in part:
fered.

—

|

foundry enlarged and the steel department at that place
furnaces.
V. 81, p. 1851.

—

—

will

have new

—

American Writing Paper Co. New Director. George B.
Noble of East Hampton, Mass., has been elected a director

Aaron Bagg Jr., resigned.
Report.
See a preceding page of to-day's "Chronicle."
—V. 80, p. 2459.
in place of

—

—

—

Amoskeag Manufacturing Co. In Possession. The transcompany of the Manchester and Amory mills upon
the payment of $5,075,000, is stated to have taken place at
Manchester, N. H., on Feb. 15.— V. 81, p. 1725, 1611.

fer to this

—

—

Atlantic Cotton Mills.
No Option. Augustus P. Loring
failed to secure the desired option upon three-quarters of

—

the stock at $67 50 per share.
V. 82, p. 394.
Automatic Electric Co. of Chicago. Report. This company reports a prosperous year's business during 1905. Besides the installation of private exchanges for the Brooklyn
Heights RR. Co., the Baldwin Locomotive Works, &c.
(ten in all), there have been completed during the year public

—

—

exchanges as follows:

Home Telephone & Telegraph Co., Los Angeles, Cal. (5 exchanges).
6,300 fines: Citizens' Telephone Co., Columbus, Ohio, 8,000 fines; Delmarvia Telephone Co., Wilmington, Del., 2,000 lines; Sioux City (la )
Telephone Co., 2,000: Southern Independent Telephone Co.. El Paso.
Tex., 1,500; Dakota Central Telephone Co., Aberdeen, S. D., 1.000Home Telephone & Telegraph Co., Riverside, Cal., 1,000; Wausau
(Wis.) Telephone Co., 700; Hastings (Neb.) Independent Telephone
Co., 600: South Bend (Ind.) Home Telephone Co., 500; Home Telephone
& Telegraph Co., Ocean Park, Cal., 250; Home Telephone & Telegraph
Co., Santa Monica, Cal., 250; Citizens' Telephone Co., Cadillac, Mich.,
128; Montgomery County Telephone Co., Miamisburg, Ohio, 110; Suburban Telephone Co., Ferguson, Mo., 50; Northeastern Telephone Co..
Saco, Me., 30.

Contracts are on hand for the following public exchanges,
some of which are partially built:
Home Telephone & Telegraph Co., Los Angeles, Cal., 7,300 lines;
Cuban Telephone & Telegraph Co Havana, Cuba, 5,000 lines; Home
,

Telephone Co., Portland, Ore., 5,000; Delmarvia Telephone Co.. Wilmington, Del., 1,000; Consolidated Telephone Companies, AUentown,
Pa., 1,000; Consofidated Telephone Companies, Hazleton, Pa., 400:
Cuban Telephone & Telegraph Co., Marianao, Cuba, 100.

—

—

Baldwin Locomotive Works. Output. This company
has built during 1905 2,250 locomotives, compared with
1,453 in 1904 and 2,022 in 1903. Of the 1905 total, 140 were
electric and 115 steam locomotives with compound cylinders.
The company has booked orders for 1906 which will keep
the plants busy well into the summer, and the officials expect, from the present outlook, that 1906 will prove a record
year for the business.
V. 79, p. 105.

—

Bell
Stock.

—

Telephone Co.,

Philadelphia. Increase of Capital
shareholders on Feb. 20 duly authorized the
proposed increase in the authorized issue of capital stock
from $16,000,000 to $30,000,000. The earnings for the
calendar year 1905 were published last week. The company, however, is paying dividends at the rate of 6%, not
8% per annum.
Stockholders of record March 1 will be entitled to subscribe at par until and including March 20 for $4,000,000 of
the new stock, in proportion of one share of new stock to
four shares of old stock, 50% to be paid April 2 and 50%
June 2.— V. 82, p. 394.

— The

.

—

Columbia Packers' Association. Settlement of
Accumulated Dividends. This company has issued a circular
through Aemilus Jarvia & Co., Toronto, stating that the
British

—

7%

preferred shareholders are entitled to a
accumulative
dividend from May 29 1902, of which only 3^^% was paid
for the first six months, and proposing that the shareholders
should agree to accept a
rate from May 20 1902 to May
20 1906 (16%), crediting on this the
paid in 1902.
The circular also says in substance:
At a sharehold T.s' meeting held in Jersey City.'in December 1904,
authority was given to make an i.ssue of bonds.
The company, liovvevcr.

4%

3H%

succeeded in getting a syndicate of preferred sliarcholders to give a guaranty to tlie banks, so that it was not necessary to sell the bonds, but
only to hypothecate tlicm as .security for this guaranty and for the
credit of $1,700,000 tli.nt was granted by the company's li.-vnkers.
The
company succeeded in making a full pack of salmon in 1906, and has sold

——
454

—

thp: chronicle.

sufficient thereof to pay off the hanks, and thus the liability to the syndicate ahove referred to has been canceled.
The bonds have been returned to the company and canceled, so that at tlie present time the
debt,
and has a very siil)staiilial surplus in unsold
company Is out of
salmon. As, however, the \vo^kin^' capital lias bt-en depleted, cliiefly
by permanent improvements, it will be ni-rcssary to retain a sullicient
amount of the casli reali/.e<l from the sale of this canned salmon for
'I'he directors, liowever, fi'tl rea.sonably suri' that the
able to carry tnit the followini; (aforesaid) proposal, and
that futin-e sales will provide working' capital, and in future years rcKnlarly jiay the full
dividend.
Von will understand, liowever, that the
ability to carr.T out the proposal will largely depend upon the result of
sales of salmon between tiow and May 20 1906.
V. 76, p. 544.

workiiit,' cai'ital.
will be

cninpnny

7%

—

—

—

Catoctin Furnace Co. Sold.
A press dispatch from
Tluirmont, Md., on Feb. 19 states that at the trustee's
sale on tliat (hiy the property was bid in by Joseph K.
Thropp for $51,135. The property includes, it is stated,
10,6G7 acres of land and a coke furiiace of 40 tons capacity,
F-

I

Vol. Lxxxii.

at the Trust Company of America, trustee of mortgage. New
York City. The capital stock is $1,000,000. Haskins &
Sells report for the calendar year 1905 ( December estimated):
Gross earnings, $77,078; expenses and taxes, $27,400; net
income applicable to fixed charges, <fcc., $50,268; interest on
$4.')0,000 first mortgage bonds, dated Jan. 1 1906, $22,500;
surplus, $27,708.
President W. F. Davidson, under date of Montpelier, Vt.,
Dec. 20 1905, writes:
Properly.
Furnishes Ught and power to the'cily of Montpelier, city of
Barre, East Barre, South Harre, Waterbury, Graniteviile, Williamstown,
&c., an area of about 00 square miles.
Consists of a water-power plant,
situated on the Winooski iliver at Bolton Falls, 16 miles from Montpelier,
with dam 00 ft. hii^h and 200 ft. wide and capacity of 3,000 h. p., of
which 1,800 h. p. is now being utilized; also a steam plant and small
water-power i)lant in Montpelier. The steam plant has a capacity of
1,000 h. p. and new steam turbines, &c., are being installed, increasing

—

capacity to 3,000 h. p.
inventory value of property independent of
machinery now being installed is §843,751, not including franchises.
All of the prinicpal apparatus has been installed since 1903 and is practically new.
The company is incorporated under a special act of the
Legislature, giving it perpetual rights and special privileges; it owns its
water rights perpetually.
Bonds. This issue of first mortgage bonds is limited to $700,000, only
$450,000 of which are being issued, the remaining $250,000 being held
by the Trust Company of America, trustee, and may be issued only as
follows:
8100,000 for extensions and improvements now in progress of
Chicago (Bell) Telephone Co, Rate Decision. The State installation, but not before the net earning capacity of the plant is not
less than twice the annual interest charge on the $550,000 bonds as certiSupreme Court of Illinois at Springfield on Feb. 15 held that fied to by chartered public accountants; $150,000 for extensions and imth-e company cannot, under the ordinance of 1889, granting
provements which shall increase the power capacity to not less than
its franchise, charge a higher rate in the territory since an- 5,500 h. p. and the net earning capacity to not less than 2 'A times the
interest charge on the entire 8700,000 bonds.
Sinking fund
nexed than that provided for under'the ordinance, nor has it annual
annually from 1907 to 1926, an amount equal to 2% of the total outthe right to make contracts for higher rates "for improved standing bond issue, which, with all income thereof, shall constitute a
metallic circuit service." This means, in effect, it is under- fund to purchase bonds of this issue at not to exceed a 4% interest
basis if same are obtainable, otherwise such other bonds as may be legal
stood, that the maximum rate for telephone service within investments
for New York savings banks, or the company may, with the
the entire present city limits is fixed at $125 yearly, and that consent of Spitzer & Co., expend the sinking fund money accruing in any
the toll charges in 15 outlying districts must be abolished. one year for extensions and improvements.
Earnings. Within two years I am confident this company will be proThe Corporation Counsel is quoted as saying that he will now ducing
and selling some 5,000 h. p. for electric light and power, from
press the pending suits to enforce the collection of back taxes, which our gross income will be about $150,000, leaving annual net earnreported as amounting to several hundred thousand dollars, ings of 890,000.
which the company has avoided payment of on the ground
Reports from J. G. White & Co. and Sanderson & Porter,
that the ordinance did not cover the annexed districts. It is the well-known electrical engineers, are also furnished.
supposed the company will appeal to the United States Su- Spitzer & Co. add; "Steam coal in this country costs in
preme Court.
excess of $5 per ton, and there is a profitable market for
New Franchise Asked. The present franchise expiring in more electrical energy than can be generated by water
1909, the company has applied for a new 20-year franchise, power.".— V. 82, p. 283.
abolishing toll stations, fixing the compensation to the city
Com Products Refining Co. Increase of Stock Directors
and confining the flat rate to house service; for busiat
This company, recently organized under the laws of New
the
charge
for
50 messages a month would be
ness purposes
Jersey (per plan in V. 82, p. 103, 221, 283, 337), on Feb. 21
$5, as against $6.25 at present, and extra messages would be
filed a certificate at Trenton increasing its capital to $80,3 cents each.
The company during January made a gain 000,000. The directors, it is announced, will be:
Instruments.
E. T. Bedford, President; W. J. Matheson. Vice-Pre.sident; F. T. Bedof 2,011 instruments, making the total number of instruments ford, W. H. Nichols, Thomas Gaunt, F. Q. Bartow, Charles Pratt, J. A.
in use 145,234, of which 105,858 arejn the city and 39,376 Moffat, R. W. Winterman, C. M. Warner, Joy Morton, W. J. Calhoun,
Thomas Kingsford, C. H. Mattliiessen and WilUara Weaver Heaton.
V. 82, p. 163.
are on the toll lines.
etc.

its

—

—

Mills, Fall River.
To Vote on Purchase. The shareholders vot<;d on Feb. 22 to confirm the purchase of the plant
of the Burlington (Vt.) Cotton Mills, including about 30,000
spindles and valuable water power. The purchase, it is said,
will be financed without calling on the stockholders for an
asscssiiient.
V. G9, p. 543.

F"Chace

—

—

—

—

—

—

3%

—

—

—

.

—

—

—

—

Chittenden Power Co. Consolidation. See Rutland (Vt.)
Railway, Light & Power Co. under "Railroads" above.
V. 81, p. 1667,670.
City Investment Co.,INew York. New Stock Authorized.
The shareholders on Feb. 21 duly approved the increase of
the capital stock from $3,000,000 to $4,000,000, the new
stock to be offered at par pro rata to holders of record
March 1. See V. 82, p. 336.
Columbus Citizens' Telephone Co. Leased. This company has arranged to lease the property of the Franklin
County Telephone Co. as of date of Jan. 1 1906, guaranteeing 5% per annum on the $150,000 of stock of the Franklin
company. The Franklin, it is said, has 14 exchanges in
Franklin County, connecting all of the townships, and operates over 2 ,000 'phones.— V. 79, p. 1333.
Concord (N. H.) Electric Co. New Power Development.
See 5-page illustrated article in "Engineering Record" of
New York, issue of Jan. 6 1906.— V. 80, p. 2623.
Consolidated Cotton Duck Co. First Dividend. The
directors on Feb. 19 declared a semi-annual dividend of
3% on the preferred stock, payable on April 2 to stockholders
^^

—

fIC-

—

—

—

V. 82, p. 337.

—

Bering Coal Co. Control Acquired by Rock Island-Frisco
Arrangements were recently completed for bringing under one control, in the interest of the Rock IslandInterests.

—

Frisco system, the management of this company and also
of the Consolidated Indiana Coal Co. (V. 80, p. 2623), 2401,
and the Brazil Block Coal Co., the capital stock of the lastnamed being almost entirely owned by the Chicago &
Eastern Illinois RR.
majority of the stock of the Dering

A

Coal Co.
cific

is

now owned by

Ry. "Engineering

&

the Chicago Rock Island
Mining Journal" says:

&

Pa-

—

Each of these companies will continue a separate existence as an
operating company, but the product of the 34 mines embraced in the
consolidation will "be sold by one compan.y, the Dering Coal Co. of
The Dering Coal Co. owns 15 mines in Indiana and IlUnois,
Cliicago.
and operates four mines under lease or partly owned by officials of the
company, incorporated as the Burnwell Coal Co.; the Consolidated
Indiana Coal Co. is a merger of 9 mines in Indiana, and the Brazil
Block Coal Co. operates six mines in the Block district of Indiana.
The present normal capacity of these thirty-four mines is 30,000 tons
daily.
On the basis of 200 working days to the year they will produce
6,000,000 tons of coal annually. .With further development, however,
it is believed that the annual production can be easily Increased to
10,000,000 tons when it is required by market conditions.

the six months ending Dec. 31 1905,
including the statements of the constituent companies:

of directors of the Dering Company follows:
of the board of the Frisco-Rock Island
railroads; B. L. Winched, President of the Rock Lsland RR.; C. W.
Hillard, Rock Island RR.,; Robert Mather, former Chairman of the
Rock Island board; Robert R. Hammond, President of the Dering Coal
Co.; A. F. Banks. Chicago; Carl Scholz, Vice-President of the ConsoUdated Indiana Coal Co.: J. K. Dering, Vice-Pre.sident of the Dering Coal
See full particulars regarding
Co.; and James L. Wolcott of Delaware.

—

—

of record

March

% Earnings. — For

—

20.

..$4,643. 63 II Current Int .and general|expense.$135,447
Income from sales
53 549
Income from other sources
Net earn Ines
...$516,676
$4,697,180 Deduct Int. on bonds of constituTotal
•

Cost material, labor,
$3,962,910
supplies, etc
82,147
Repairs Aj-enewalu

ent companies. Including

•

„ , „
4,045,057
^

first

mort. bonds of the Mt. Vernon
Woodberry Cotton Duck Co.. 188,225

Balance surplus

$328,451

$652,123

$118,976 has been charged to depreciation account.
$149,475 is derived from the operations of
Duck Corporation and $178,976 from the
the United
V. 82,
operations of the Mount Vernon-Woodberry Cotton Duck Co.

Of

this' amount

^ote. — Of the $328,451,
States Cotton

p. 336.

—

New York. — Reduction in Price

Consolidated Gas Co.,
of
The State Commission of Gas and Electricity on Friday ordered that for the three years beginning May 1 the
price of gas in the Borough of Manhattan shall be 80 cents.
V. 82, p. 221.
Virtual Amalgamation.
Consolidated Indiana Coal Co.
See Bering Coal Co. above.— V. 80, p. 2623, 2401.
Consolidated Lighting Company of Vermont (Water
Power). Further Facts. The $450,000 first mortgage, sinking fund, 20-year, 5% gold bonds, offered at 101 and interest
by Spitzsr <k Co., Toledo and New York, are dated Jan. 1
1906 and due Jan. 1 1926, without option of prior payment;
dMiomia*tteafl $1,000. Interest Jan. 1 and July 1, payable
Qas.

—

—

—

The board

B. F.

—

—

Yoakum, Chairman

Dering Co. in V. 80, p. 714, 1060, 1731.

—

—

—

Detroit (Mich.) Edison Co. Bonds Offered Earnings.
Perry, Coffin & Burr, 60 State St., Boston; N. W. Harris
& Co., New York, Chicago and Boston, and Spencer Trask
& Co., New York, are offering, at 104 and interest, $275,000
fir.st mortgage 5% gold bonds, authorized issue $10,000,000;
For the year ending Jan. 31 1906 gross
issued $5,675,000.
earnings were $860,554; net earnings, $324,363; bond
interest charges during above period, $222,555; surplus,
$101,808. The annual interest on $5,675,000 bonds now
outstanding is $283,750. The gross and net receipts for
the year increased 22.4% and 28.7%, respectirely, over the
V. 82, p. 163.
previous j'^car.

—

Diamond Match Co.

—

—

Change in Fiscal Year. A% the recent annual meeting a resolution was adopted changing the
annual meeting from the first Wednesday in February to
the first Wednesday in May, and the end of the fiscal year
from Dec. 31 to March 31.— V. 82, p. 389, 337.
Dominion Textile Co. Alliance. The following statement from the "Montreal Gazette" of Feb. 14 100* we imderstand is authoritative:

—

—

fbbl 2i

THE CHRONICLE.

ipoa.i

The community of interest established between the Dominion Textile
Oo. and the Montreal Ootton Co., as evidenced at the annual meeting of
the Montreal Cotton Co., was hailed with general satisfaction in financial
The
circles, as it was admitted w.a.t it would prove beneficial to both.
board of the Montreal Cotton Co. has been strengthened by the addition
Henshaw
and
Gordon,
Col.
F.
C.
W.
C.
B.
of wSenator L. J. Forget, C.
Considering the large amount of stock of the Montreal Cotton
Finiejr.
Co. that is now held by the Textile interests, it was only fitting that those
interests should have adequate representation on the board, and the
two companies will now work together on harmonious lines. The list of
shareholders .'ihows that interests identified with the Textile Company
V. 81,
are aniongst the largest .shareliolders of the Montreal Cotton Co.
p. 1552, 1377.

—

—

Federal Mining & Smelting Co. Extra Dividend of 2}^%
on Common Stock. This company, now controlled by the
American Smeltens' Securities Co., declared on Tuesday the
regular quarterly dividends of 1M% on its preferred stock
and 13^% on its common stock, and in addition an extra
dividend of 2}4% on the common. All three dividends are
payable March 15 to stockholders of record on March 1.
The extra dividend of 2}4% on the common stock compares
with extra dividends of 1% paid in each quarter of 1905.
The common stock received all told last year 10%, which
will be increased to 16% in 1906 if the rate of dividend declared yesterday is maintained for the balance of the year.

—

—V.

81, p. 1726.
At an elecFlagler Iron & Steel Co., Chicago. Officers.
tion held at the general offices in the First National Bank
Building, Chicago, Feb. 15, the following-named directors
(and officers) were elected for the ensuing year:
FrankUn H. Head, President; WilUs P. Dickinson. First Vice-Pres.;

—

—

Robert A. Weir, Second Vice-Pres.; R. Dorothy, Third Vice-Pres.;
John Claney, Treasurer; George E. Simpson and H. K. Flagler.
See V. 82, p. 104, 51.
Charles B. Moore is Secretary.
Gilbert Transportation Co., Mystic, Conn. -Bonds Offered.
This company is offering at 90 its present issue of $45,000
gold bonds, dated Jan. 1 1900 and due
first mortgage
Jan. 1 1926, but subject to call at 110 on 30 days' notice.
Interest payable Jan. 1 and July 1 at Manufacturers' Trust
cumulative
The
Co., Providence, mortgage trustee.
preferred stock is offered at 80 with a bonus of 50% of

—

—

6%

7%

common.
Total authorized capital stock, SSOO.OOO, of wliich $250,000 1%
cumulative preferred; outstanding, $42,000 of eacli class; par of shares.
$100. The company owns a fleet of seven sailing-vessels valued at
$212,000, which, it is said, earned last year about 9% on the common
The company is a Connecticut corporation. Captain M. L.
stock.
Compare V. 81, p.
Gilbert is President; Treasurer, Geo. E. Gilchrist.
779.

—

Greene Consolidated Copper Co. Interest in Lumber Company. Sec Sierra Madre Land &, Lumber Co. below.
V. 82, p. 221.
A press report from GalGulf Fisheries Co. Mortgage.
veston, Tex., credits this company with having filed a mortgage to the Lincoln Trust Co. of New York City, as trustee,
to secure an issue of $210,000 of 6% bonds.
The company was incorporated at Albany on Oct. 31 1901 with $700,-

—

—

—

000 of autliorized capital stock, of which $200,000 was 7% cumulative
preferred, purchased the plant of the Galveston Red Snapper Co. and
obtained a permit to do busine.ss in Texas, with office at Galveston.
The directors at incorporation were: Henry R. Wolcott of Denver,
Col.; Willard T. Barton of San Francisco; Harry M. Gillig of I.archmont
Manor, N. Y.; and WiUiam L. Moody Jr. and James M. Munn of Galve.ston, Tex.
Hudson Chester Granite Co., Hudson, N. Y. Mortgage.
This New York corporation, which in ]V^y 1903 increased
its capital stock from $200,000 to $250,000, has made a
mortgage to the Albany Trust Co., as trustee, to secure
bonds of $1,000 each.
$300,000 of
The company mines granite and manufactures monuments, &c. The
bonds are dated January 1906 and mature January 1936; interest payable
January and July. They cover the entire property.

—

—

&

5%

Midland Coal Co.—FuHher Facts.— The $1 ,000,000
mortgage 53^% serial gold bonds offered recently
by Peabody, Houghteling & Co. of Chicago (see V. 82, p. 51)
are subject to call, at the company's option, in the reverse
of their numerical order, in five years, or on interest dates
The
thereafter, on 90 days' notice, at 105 and interest.
sinking fund is 5 cents per ton on all coal mined, and in any
event the company must pay to the trustees on the first day
(Of each month (beginning Jan. 1 1907) one-twelfth of the
At the
serial payment due at end of each current year.
end of each half-year it must pay an additional sum to
make up total sinking fund requirements, if any, at 5 cents
per ton on all coal mined during the half-year.
President Samuel InsuU, under date of Dec. 26 1905,
wrote in substance:
Illinois

of first

.

The company (capital stock of S2 ,000,000) is a consolidation of the
Its only outstanding
Victor Coal Co. and the Peabody Mining Co.
first mortgage serial Rold bonds.
indebtedness is $1,000,000 of
Its property consist.s of (a) Sherman Mine, located about 9 miles north
of Springfield, with fin'proof buil(hngs, steel hoisting-tower and model
]>>quiiiped to hoist and handle 3,000 tons
buildings for emiiloyees.
of coal in eight hours. Connected with tracks of Chicago .% .^Iton Piv.
Owns in fee 1,100 acres of coal in Sangamon CouiUy, together witli title
(b) Victor Coal Mine at Pawnee, 111., with shaft,
to 35 acres of surface,
buildings and improvements equipped to hoist and handle 2.500 tons
per day, togetlier with 1,000 acres of coal owned in fee, and 15 acres of
surface.
It is on the Chicago & Illinois Midlan<i Uy., successor to the
Pawnee RIl. As at present constructed this railroad gives connections
with the Chicago & -Mton and Illinois Central railroad.s and the exten.tiou
now under construction to reach the new coal lands tinder option, and
hereafter reftrred to, will give connection with the Waliash and Baltimore A; Oliio Southwestern railways and the i)r()po«ed nev/ branch of
the Rock Lsland system,
(c) Also owng in fee 1,400 acres of coal hi
Vigo Coun<^v, Ind.'.and has the right to acfjulre as much of the surface
thereof as it may need.
This land lies compactly about Otter Creek
Junction, and a .shaft can bo sunk tlierr, so as to be .serveii over the
(The
<;hicago <fe Eastern Illinois, Vaiidalia and Big Four railroads.
foregoing properties reiire.sent a cash investment of upwards of $fi00,000
«>d should bring at forced sale a sura much in excess of their cost.'J

5M%

455

(d) The company Is taking title to 40,000 acres of coal in Christian
and Sangamon Counties, 111., which it holds on option contracts, under

wliich it has also the right to take title to as much surface as is necessary
The.se coal lands are now being made available
for the mining of coal.
for immediate development by the exten-sion through them of the tracks
(c) On these tracts two new
of the Cliicago & Illinois Midland Ry.
modern and fully equipped mines will at once be sunk, at a cost of
operation.
It is for the purpose of com$300,000, and put into active
pleting title to this tract of 40,000 acres and sinking two mines that
the bond issue is made.
The experts' reports, together with our own drillings, show that the
lands above designated are underlaid, on the most conservative estimate,
by 258,000,000 tons of strong steam coal of excellent quality. The coal
underlying the Sangamon and Christian County field is known as No. 5
Illinois Vein, is an excellent quality of steam coal, as well as domestic
The vein will average 7 feet in thickness, has most excellent
fuel.
mining conditions, and is the standard coal of Illinois. The maximum
capacity of the two mines now in operation will be 5,500 tons per day;
the average annual production (3,000 tons per day 250 days in the
The two mines to be sunk will have a capacity
year), 750,000 tons.
equal to the two present mines, making total average minimum production from the four mines 1,500,000 tons per year, with a maximum
capacity of over 2,000,000 tons.
The interest on the bond issue is already provided for by the earnings
of the mines, which have profitable contracts covering a long term of
years, referred to hereafter, the said contracts being sufficiently large
to pay Interest and sinking fund on the bond issue, and when the two

new mines become producers this income and sinking fund will be almost
doubled. The company occupies a position of vmique advantage, having
made contracts with the Chicago Edison Co., the Commonwealth Electric

Co. and the Peabody Coal Co. for a total tonnage of 9,825,000 tons,
distributed over ten vears as follows: first year, 625,000 tons; second
year 625,000 tons; third year, 750,000 tons; fourth year, 850,000 tons;
sixth year, 1,125,000 tons; seventh year,
fifth year, 850,000 tons;
1,250^000 tons; eighth year, 1,2.50,000 tons; ninth year, 1,250,000 tons;
tenth'year, 1,250,000 tons; at a sliding scale of prices so related to the
cost of production as to guarantee a substantial profit to the Illinois
Midland Coal Co. more than sufficient to pay the interest on this bond
issue and sinking fund during the life of the contracts.

Samuel Insull, President; F. S. Peabody, ViceA. Fox, Second Vice-President; J. D. Adams,
Office, No. 215 DearC. J. Gray, Secretary.
born St., Chicago.— V. 82, p. 51.
Independent Telephone Co., Topeka. Earnings. The
H. P. Wright Investment Co. of Kansas City, when recently
offering a block of this company's first mortgage 6s at 102
and interest, reported:
Officers:

President;
Treasurer;

W.

—

—

Gross earnings for 1904, $57,165; net earnings, $31,673; interest on
bonds, $6,000; balance, surplus, $25,673. Grcss earnings for 9 months
of 1905, $81,037; operating expenses, $40,282; net earnings, $40,855.
Capital stock outstanding, $127,300; bonded debt, $100,000; actual cost
V. 80,
of property to date, $270,000; telephones in operation, 4,100.

—

p. 1178.

Lehigh Coal

&

Navigation

Co. —Report. — The results

for

the calendar year 1904 compare as follows:
Calendar

year—

Gross
revenue.

Interest,
taxes, <irc.

S. j. &
dcprcciat'n

$3,422,662 $1,305,265
1,363,434
2,931.308
1,397,549
3.109,133
V.81, p. 1438, 1378.

1905
1904
1903

—

Dividends

Balance,
surplus.

paid.
$321,415 (8%)$1 ,387,604

$408,378
361,547
564,872

102,277 (7%) 1,104,050
946.329
200,382(6%)

—

Manhattan Storage & Warehouse Co., New 'York City.
This company, which in 1899 increased its capMortgage.
ital stock from $1,500,000 to $1,800,000, recently filed a
three-year mortgage for $150,000 to the Title Guarantee &
Tru.st Co. as trustee.— V. 69, p. 1100.
Meyer Rubber Co., New Brunswick, N. J. Neto Stock.
This company, incorporated in 1861 under the laws of New
Jersey, was recently reported to have filed a certificate of increase of capital stock from $200,000 to $5,000,000; par of
The new
Office, New Brunswick, N. J.
shares, $100.
Bonds, if
capital stock is said to have been all paid in.
any, not reported.

—

—

—

—

Bonds.— A mortMiller Union Stock Yards, Atlanta, Ga.
gage has been filed to the Atlanta Savings Bank as trustee,
to secure an issue of $200,000 6% gold bonds.
Company was incorporated in Georgia in Septeml)er 1904. Capital

stock authorized and issued. $4.50,000, of which 15200,000 is 7% preferred.
Par of shaies $100. Bonds dated Jan. 1 1906 and duo $20,000 yearly on
Julv 1 from 1907 to 1916 inclusive, bus subject to call, all or any pfirt,
on 30 davs' notice at 105. Denomination $1 .000. Intore.st payable July 1
and Jan.' 1 in Atlanta. Of the bonds $75,000 remain in the treasury.
President, James Patterson: Secretary and Treastirer, J. Hall Miller.

—

—

Milwaukee & Chicago Breweries, Ltd. Report. The report for the year ending Sept. 30 1905 shows the following
results for the American company, the sales having been
913,126 barrels, against 848.849 barrels in 1903-04.
Fiscal

Year—

Total
Profits.

1904-05. -$884,735
1903-04.. 838,028
1902-03.- 9!>5,858

Depreciation.
Repairs. A-c.

Bond, A-c,
Interest.

English Co.

$458,411

$184,868

$241,2.50

425,1.89

187,0.53

225,000

$206
785

517,721

183,736

232, ,500

21,901

—

Dividend

In

Balance,
Surplus.

Dividend Increased. The directors have declared a seniiannual dividend of 3%, payable Feb. 27 to holders o f record
Feb. 15 After deducting the 51-^% in dividends (£46,887)
paid from the earnings of the late year, there remains a
surplus on the year's operations of £40; total surplus carried
forward, £1,772.— V. 80, p. 874.
Missouri River Power Co. Called Bonds. Twenty-throe
(.?23,000) 1st mortgage 6% bonds of 1900 have been called
for payment at 105 and interest, sav $1 ,080 per bond, on Mav
1906 at the office of the (Colonial Trust Co., 222 Broadway,
1
Now York. See V. 76. p. 708.~V. 81, p. 901.

—

Montreal Cotton Co.

— Alliance. — See

—

Dominion Textile

Co. above.

National Electric Co., Milwaukee.—(^>//rr of Fifty Cents
on the Dollar.
On behalf of Eastern interests who.se identity
is not disclosed, the Standard Trust Co. of Now York has
formally offered to pay .50 cents on tlie dollar for a full
release of all claims against this bankrupt company.
V. 80,
p. 2224.

—

—

—
456

THP] CHRONICLE.

—

National Glass Co.— Listed in Pittsburgh. The Pittsburgh
Stuck I'-xiliaiigL' ha.s li.stcd tlic $1 ,312,150 jjref erred titock and
$2,500,001) gciioral mortgage Gs.
Common stoek to the
amount of 29,592 shares had previously been listed. Tlie par
value of the shares is $50.
BALANCK SHEET FEB. 1 1906.
.4MfM— ($6,377,208).
Ai«*i7(//«— ($6,377.20S).
I

$4 .762,599 Common stock
992, 1S5 Preferred stock
30.451 iJondeil debt
109,8331 Aecoutit.s i)ayable
747,017|Mllls payable
.t
0,023 Accrued mterest

Plant aooount
Stocks and Invcntorlen

Cash

Si ,479.62.0
1.312.1.50

2,500.000
312,594
Accoimts receivable
075,794
Unearned Intcrcat
8,290
ISurplu.'j
88,815
Tlicrc are two classes of bonds— 82,000.000 first niorlRaKe 6s, of wliicli
$800,000 are oiitstaiuiing, and S2..'>00,000 general iiiortsaKe fi.s, of wliicli
1

Bills receivable

$1,700,000

is,siie(l.
Preferred stoek pavs XH"', quarterly <lividen<ls.
Directors: A. W. Herroii, Pres.; .\ddison Tlionipson, .Sec; (i. H. Mitchell,
Treas.: (leorse I. Whitney and F. ].. Stephenson.
V. 82, p. 101.

—

Nebraska

(Bell)

Telephone Co.

— New Stock. — Shareholders

of record Feb. 15 are offered the right to subscribe at par for
$1,000,000 new stock to the extent of one share for every
three shares held by them respectively. Tlie subscriptions
are payable in four installments ending Sept. 30. The capital
stock at present is $2,635,000; no bonds.
Income Account for ucars cndinr/' Dec. 31.
1902.
1905.
1904.
1903.
$905,660
51,166,415
$1,049,907
81,361,156
168,440
276,598
259,980
192, ."596
Total stations Dec. 31 1905, 35.855, an increa.se for the year of 8,501,
or 31%: total sub-license stations, 21.593; toll line wire, 18,713 miles.
Total cost of new construction in 1905. .S957,000.— V. 80, p. 2397. ___^

Totalincome
Net income

New York & New

Jersey Telephone Co.

—Report. — The

re-

sults for the calendar year were:

Year

—

Gross.

Net.

Interest.

1905.. 86, 217, 288 81,041,443
1904.. 5,393,709 1,664,374
1903.. 4,741.344 1,471,348

—V. 82,

Taxes.

$62,618 $132,810
66,422
121,000
68,282
112,932

p. 338.

Divs.(7%). BaL.sur.
$1,034,149 $411,866
514,864
962,088
437,o=19
852,215

—

(Vol. lxxxii.

rector to succeed the late

George E. Macklin, who was
General Manager.
Report.
See "Annual Reports" on a preceding paee.
V. 81, p. 1243.

—

^

—

—

Pure Oil Co. Possible Pipe Line to Gulf. A press dispatch
from Independence, Kas., to the "Topeka Capital" .states
that subscription papers are being circulated among the
Kansas oil prodiic(!rs offering them $1,000,000 stock of the
Pure Oil Co. at $10 per share for the common (par, $5; and
$100 (par) for the 6% preferred, on the condition tlmt the
company shall build a pipe line from the Kansas Oil Fields
to the Gulf of Mexico and will market the oil in Europe and
elsewhere.— V. 82, p. 104.

—

Richelieu & Ontario Navigation Co. Report for Calendar
Year 1905. President llodoiphe Forget at the annual meeting on Feb. 19 reported as follows:

—

The gross earnings for the year amount to $1,217,373, an increase of
$217,504 over 1904, and the net profits, after providing for fixed charges,
&c., 8239,295, being an increa.se over the previous year of
$144,982. The operating expenses were 79"/^ of the gross earnings, as
again.st 88.04^', for tlie year 1904. The bond i.s.sue, originally 8571,833,
now stands at 8351 ,373. During the past year the company has redeemed
827,253 of said issue, and has in its treasury 81,947 of bonds redeemable
March 1 1906. The steamer Montreal has been completed and was placed
in commission May 24 1905. The steamer Belleville has been lengthened
with satisfactory results.
The heavy traffic of last season and the increased movement of tourists
and commercial business generally necessitate steamers of greater capacity. In view of this your directors have placed an order for a new steamer
for the St. Lawrence River Rapids, and are also making inquiries looking
towards the building of a new steamer equal to or larger than the steamer
Montreal for the Montreal-Quebec route. Application has been made to
Parliament to amend tlie Acts of incorporation by giving additional
powers and for authority to issue bonds, notice of which has been mailed

interest,

the .shareholders.

The proposed bond

issue, it is said, will

be for $1,000.000.

V. 82, p. 284.

—

—

—

North American Telegraph Co. Exchange of Stock. See
report of Mackay Companies under "Annual Reports" on a
preceding page.

Richmond Mining & Transportation Co. Sale of Bonds.
At auction recently $100,000 of this company's first mortgage
5s, due Aug. 1 1923, were sold, with coupon of February

Ohio & Indiana Consolidated Natural & Illuminating Gas
Co. Foreclosure.
The Central Trust Co., as trustee under
the several mortgages, has brought suits to foreclose the first
mortgages of the La Fayette Gas Co., Indiana Natural &
Illuminating Gas Co., Ohio & Indiana Gas Co. and Logansport & Wabash Valley Gas Co.— V. 82, p. 51.

1905 attached, for $24,400.

—

—

—

—

Ohio River & Western Coal'Co. New Stock. This company, incorporated in Ohio last November with $100,000 of
authorized capital stock, filed on Dec. 30 1905 a certificate of
increase of stock to $3,000,000.
Directors: S. L. Mooney,
W. C. Mooney, F. S. Hambleton, F. L. Mooney and W. E.
Mailing. The same interests control the Ohio River &jWestern Ry. Co. Office Woodsfield, Ohio.

—

—

Pennsylvania Malleable Co. Proposed Bond Issue. See
report of Pressed Steel Car Co. under "Annual Reports'!
on a preceding page. V. 81, p. 1562.

—

—

—

Sierra

Madre Land

& Lumber

Co.

—Bonds Offered. — Presi-

dent W. C. Greene announces by advertisement on another
page that subscriptions will be received at 983^ and interest
up to noon Feb. 28 1906 at the offices of the company, No. 24
Broad St., New York, and by W. N. Coler & Co., 59 Cedar
St., New York; W. B. McKeand & Co., The Rookerv. Chicago, 111., and Myron M. Parker, 1418 F St., N. W.. 'Washington, D. C, for $527,000 50-year 6% sinking fund gold
bonds, being the remainder of a $3,000,000 bond issue authorized Nov. 18 1905, "the balance of the issue, $2,473,000.
having been already sold at par." Interest paj'able June 1
and Dec. 1 at the Knickerbocker Trust Co., New York Citj'-,
trustee. Bonds dated Dec. 1 1905, due Dec. 1 1955. •
The advertisement sa}''s in substance:
The company owns in fee 2,315,000 acres of land situated in western
Chihuahua and eastern Sonora,

in the Republic of Mexico,

having a

of 18,520,000,000 feet of the best quality of yellow and wlilte
Pennsylvania Steel Co. Called Bonds. "Cornwall Ore stumpage
pine lumber. A large portion of the estate, also, is exceeriingly fertile
Banks" 5% bonds of Oct. 1 1902 to the amount of $100,000 agricultural land, well watered by numerous streams, capable of produchave been drawn for redemption and will be paid at 105 and ing all Ivinds of agricultural products and enjoying one of the best chmates
interest on April 1 at office of Girard Trust Co., trustee, in the world. The company is instaUing mills \\ith a capacity for cutting
500,000 feet of lumber per day. There is a ready market tributary to this
Philadelphia.— V. 82, p. 104.
tract for three times that amount of lumber.

—

—

People's Gas Light Co., Rutland, Vt. Consolidation.
See Rutland (Vt.) Railway, Light & Power Co. under "RailV. 81, p. 671.
roads" above.

—

—

The proceeds of the present bond offering will be used for the construction of 32 miles of Iq^ging road and for working capital. This road is now
The
actively under way and will be completed witliin ninety days.
Greene Consolidated Copper Company owns 51% of the capital stock of
the Sierra Madre Land & Lumber Co. and controls operations. Certified
of the amount subscribed for must accompany subscription:
check for
balance payable as soon as engraved bonds are ready for delivery by the
American Bank Note Co., which will be not later than March 1. V. 79,
p. 1481.

5%
Pigeon River Lumber Co. of Mt. Sterling, N. C. Timber
Bonds Offered.—The Inter-State Trust & Banking Co., 213
Camp St., New Orleans, is offering, by advertisement on
another page, the total issue of $550,000 of "first mortgage
Southern Steel Co., Gadsden, Ala. Called Bonds.
timber bonds" of $1,000 each, dated March 1 1906, due in Alabama Steel & Wire Co. above. V. 81, p. 1796.

—

series of $25,000 every six months beginning Sept. 1 1907;
These bonds are secured by
interest payable half-yearly.
first mortgage upon 54,900 acres of timber land in a solid
tract, about 35 miles northwest of Asheville, Haywood
County, N. C, covered by about 900,000,000 feet of hemlock,
spruce, poplar and other varieties of timber; also upon a
double-band saw-mill, logging railroad, shops, store, tene-

ment houses, etc.". Company owned and operated by the
successful lumbermen and timber dealers, J. D. Lacey & Co.
of New Orleans, Charles I. James and Norman James of
Baltimore, Md., and

J.

B. Hart of Clarksburg,

—

W.

Va.

—

Pittsburgh Stove & Range Co. Reorganization. The
shareholders will vote April 23 on a proposition to sell the
company's property as a preliminary, it is understood, to
V. 80, p. 1238.
reorganization.
Portland Gold Mining Co. Re-incorporation. This company, previously an Iowa corporation, was recently re-incorporated under the laws of Wyoming with the same capThe
italization, namely $3,000,000, in shares of $1 each.
old company was dissolved, but James F. Burns, owning,
it is said, over $600,000 stock in the old company, has succeeded in obtaining payment of the 8-cent dividend declared by the new corporation.
The auditor's cash statement for the year 1905
Report.
has been published as follows: Cash balance Jan. 1 1905,
$691,184; profits, &c., for year, $968,488; total, $1,659,672;
dividends for year, $1,080,000; securities, $2,774; cash
balance Dec. 31 1905, $576,898.— V. 71, p. 1015.
Pressed Steel Car Co. New Director. James N. Wallace,
President of the Central Trust Co., has been elected a di-

—

—

—

—

—

—

—

—

—See

—

Spring Valley Water Co., San Francisco. Contract ReAn agreement dated Jan.
specting Further Issues of Bonds.

—

11

1906 has been placed on record between the company and

Isaias W. Hellman, whereby the former binds itself, in consideration of the latter having agreed to purchase $14 ,500,000
of the authorized issue of $28,000,000 general mortgage
bonds dated Dec. 1 1903, to limit the issue of the final
$11,025,000 bonds as follows:

The company will not sell bonds numbered 3,001 to 14,025, both inan aggregate par value of 811,025,000 (specified in Article 2 of
the general mortgage), except for the purposes in s;iid article mentioned,
and if said bonds, or any part thereof, are required to provide funds for
new construction and betterments and new acquisitions and improvements, then, and in such event, the company will file with the Union
Trust Co. of San Francisco, the mortgage trustee, in addition to the
resolutions mentioned in said Art. 2, a certificate, duly executed by
President, Secretary and Chief Engineer, to the effect that the new
construction and betterments and new acquisitions and improvements
shall be equal in actual cost to at least 85% of the par value of the
bonds required to be dehvered.
And the said Union Trust Co. of San Francisco shall have the right to
independently Investigate the facts set forth in each and all such certificates, and if" the water company is not satisfied with the conclusion of
the trustee, then the question sliall be submitted to three arbiters, one
to be appointed by the company and one by the trustee, and the third
by such two, and "the determination of the majority of the arbiters shall
be final; but all expense of such investigation shall be paid by the company. See V. 82, p. 396, 338. 164.
[6f the authorized issue of 828,000,000 bonds, $3,000,000 was sold
some time ago; 814,500.000 is included in present sale, 813,975,000 being
for refunding: and the remainder, 810,500,000, being the balance of the
$11,025,000 above referred to, is held for betterments and improvements
under above provisions.)— V. 82, j). 396, 338.]
clusive, of

—

New
Fuller Dry Goods Co. of St.' Louis.
Stix, Baer
This Missouri corporation has filed a statement of
Stock.

—

&

Feb. 24 190C,

THE CHRONICLE

I

increase of capital stock from $1,000,000 to $2,500,000.
The new
Assets reported as $2,535,000; "liabilities none."
stock, all of which, it is said, will be subscribed by present
shareholders and employees of the company, "was made
necessary by the anticipated removal of the store to the new
building at 6th St. and Washington Ave. Directors:
Charles A. Stix, President; Julius A. Baer, P'irst Vice-President; Aaron
Fuller, Second Vice-President, and Sigmund Baer, Secretary and Treasurer.

—

Tacoma (Wash.) Co .—Reduction of Capital Stock. This
company has filed a certificate at Olympia, Wash., reducing
capital stock from $25,000,000 to $3,500,000, the par
value of shares remaining one dollar. The proposition to
reduce the stock to $3,500,000, in shares of 25 ccntseach,
could not be carried out, as the Court held that the laws of
the State do not permit a reduction of par value of shares.
(Compare V. 81, p. 1191.)
its

&

Texas Land

Cattle Co., Limited.

—Report. — The report

for the calendar j^ear 1905 shows:
Total receipts from cattle sales, land interest, &c. (including the
balance brought forward), £15,462; profit and loss, £(),621; dividend at
214%, free of income tax, being 2s. 3d. per share of £4 10s., £5,400,
balance, subject to directors' remuneration, £1,221.

—

—

Union (S. C.) Cotton Mills. Adjudged Bankrupt. The
United States District Court at Charleston, S. C, on Feb. 14
adjudged the company a bankrupt upon a petition filed on
Oct. 3 1905.

Compare V.

81, p. 1244, 1318, 1615.

United Bank Note Corporation.

Bank Note

— This

—Successor

of

American

company was incorporated

at Albany
on Feb. 20 with $10,000,000 of authorized capital stock, in
$50 shares, of which $5,000,000 is to be
cumulative preferred, as successor of the American Bank Note Co., per plan
in V. 81, p. 1851; V. 82, p. 102, 336.
Report.
The American Bank Note Co. (the old company),
for the calendar year 1905 reports: Profits (after deducting
cost of new machinery), $765,006; charged off (real estate,
&c.), $114,543; reserves for depreciation in investment account ($50,000), special machinery ($30,000), &c., $100,000;
dividends paid, $216,000; balance, surplus, $334,463. Total

Co.

6%

—

surplus Dec. 31 1905, $2,958,948.

—

—

United Lead Co. Merger. An oifficer of the National Lead
Co. declines to confirm the "authoritative" statements that
the merger of the two corporations has been definitely arranged, to date frorn Dec. 1 1905, and that the executive
offices of the United Lead Co. will be moved about March 1
to No. 100 William St., where the National Lead Co. has
offices.— V. 81, p. 672.

—

—

United States Realty & Improvement Co. New Director.
William F. Havemeyer has been elected a director. V. 81

—
1798.
United Telephone & Telegraph Co., Pennsylvania. —Earnings. — The results of the calendar years compare as below:
p.

Cat.
Rentals,
Net
Dividends, Interest
Guar. Div. Balance,
Tolls, d-e. Earnings. &c..Ree'd. on Bonds. <fc Rentals. Sin-plus.
Year
1905
$479,810 $219,824
$38,704 $161,590
$46,930
$50,008
1904
464,249
180,501
29,367
148,995
35,430
25,443
The operating expenses in 1905 include: Operating, $145,847, against
$154,580; maintenance, $63,693, against $77,339; general taxes and ex-

—

penses, $31,336, against $29,215; taxes, insurance, &c., $19,109, against
$22,614. The "other income" includes in 1905 dividends on stocks owned
$36,270, against $27,435.— V. 81, p. 618.

Wellsburg

—

&

—

—

Buffalo Valley Co.
Sale of Bonds.
Status
At auction recently $800,000 collateral trust 5% bonds, being part of this company's issue of $1,000,000 bonds secured
by mortgage to the Knickerbocker Trust Co., as trustee,
offered, with the coupons of January, 1905, attached, were
bid in, by parties interested, for the nominal sum of $5,000.
The bonds were held by contractors, who pledged them to
secure a loan of $150,000.
The company was organized in 1903-04 under thelaws of New Jersey
with $1,000,000 capital stock (the present amount), as a holding company, and acQuiretl all the $300,000 capital stock of the Wehsburg Coal
Co., which was organized in 1902 and purchased 1,200 acres of coal land
on Buffalo Creek, in Brooke County, West Va.; also all the capital stocks,
$150,000 and $300,000 respectively, of the Washington & State Line
Rll. and the Wellsburg & State Line RR. companies, which were char-

457

claims to have purchased in 1895 from Charles A. Parsons,
of England, all rights to his American patents and to have
contracted for all rights covering improvements which might
be made during a term of years. The AUis-Chalmers Company within a few years has placed upon the market a steam
turbine, involving novel features, which it claims the right to
use under its purchase from the Parsons interests of patents
granted subsequent to Sept. 11 1900, the right to the fundamental Parsons patents, it is understood, being conceded to
the Westinghouse Company.
Regarding the above, an

the Allis-Chalmers Co. says: "Our
for several years past in the development of
the steam turbine, and it has proceeded with great deliberation under the
Some time ago we acquired from the
best technical and legal advice.
Parsons interests the right to all their turbine patents in tliis country
except those granted prior to Sept. 11 1900, which constitute the only
Parsons rights purchased by the Westinghouse Company, none of which
the Allis-Chalmers Co. has included nor desires to use in its turbines.
We thus have the benefit of all the Parsons patent rights and experience
since 1900, under agreements also covering all future improvements and
V. 82, p. 165.
experiences.
officer of

company has been engaged

—

The Financial Review for 1906, published at the office of
"Commercial and Financial Chronicle," is now ready.
It is an invaluable book for reference throughout the year.
the

Some

of the contents are as follows:
Retrospect of 1905, giving a comprehensive review of the
business of that year, with statistics in each department,
financial and commercial.
Bank Clearings in 1905, with comparative statistics for
20 years.
Number of shares sold on the New York Stock Exchange
in each of the past 20 years.
Securities listed on the New York Stock Exchange in 1905.
Money rates by weeks for past four years on all classes
of loans.

Weekly Bank Statements

in 1904 and 1905.
Statistics for a series of years.
Iron and Coal Production for a series of years.
Gold and Silver— Production for a series of years and
Monthly Range of Price of Silver for three years.
Exports and Imports for a series of years.
Comparative prices of Merchandise for series of years.
Foreign Exchange Daily Prices in New York "in 1905.
Great Britain Review of commercial and financial affairs,

Crop

—

—

—

with comparative statistics.

Bank of England Weekly Statements in 1905, and the
changes in the Bank rate for a series of years.
Government Bonds Monthly Range since 1860 and Debt
Statement.

—

—

State Bonds Record of Prices since 1860.
Railroad and Miscellaneous Bonds and Stocks Monthly
Range of Prices for five years in New York and for one
year in Boston, Philadelphia and Baltimore.
Description of Railroad and Industrial Securities, Record
of Earnings, Dividends, Railroad Construction and other
statistics for a series of years.
The price of the Review is $2.
"VA illiam B. Dana Co.,
76 K' Pine Street, New York.
Copies may also be had from P. Bartlett, 513 Monadnock
Blk., Chicago; Edwards & Smith, 1 Drapers Gardens, London

—

—

Messrs. N. W. Harris & Co. of this city, Chicago and
Boston, are to-day offering investors $1,000,000 United
Electric Light & Power Co. first consolidated mortgage 4J^%
bonds, due May 1 1929. Issued under a closed mortgage,
this bond is an underlying bond of the Consolidated Gas,
Electric Light & Power Co. of Baltimore.
The advertisement, with full particulars, appears in this issue of the
"Chronicle" on the page opposite the clearings statement.

—The "Earning Power of Railroads" in 1906, with tables
and notes showing facts as to earnings, capitalization, dividends, mileage, &c., of 125 railroads in the United States
and Canada, is a convenient little volume of 290 pages, compiled and edited by Floyd W. Mundy of James H. Oliphant
& Co., bankers and brokers. No. 20 Broad St., New York.
tered to build from Wellsburg, Va,, to Washington, Pa., 28 miles, of
A. B. Leach & Co., successors to Farson, Leach & Co.,
which 3 miles were conipleted in 1904. In February 1905 Joseph A. West
of Beaver, Pa.; Luke F. Darrell of Allegheny, Pa., and Carl C. Law of of 35 Nassau Street, New York, Philadelphia, Chicago and
Pittsburgh, respectively former President, Secretary and Treasurer of Boston, are this week issuing a special circular of investthe Wellsburg Coal Co., filed a suit for a receiver for failure to pay the ments.
Copies can be had upon request. The list covers
interest due on the bonds held by the contractors. This application was
denied. James R. Branch, No. 5 Nassau St., New York, is President, selected municipal, standard railroad, street railway and
Alfred McOrath, Vice-President of the National Shoe & Leather Bank,
Treasurer, and Anthony Stump, Secretary, of the holding company.

Western Canada Land Co.
This

— Acquisition —Sale

company has purchased

from the Canadian

Pacific

of Stock.

—

half a million acres of land

Ry. in the Edmonton

district,

price $2,080,000, payable $50,000 at once, $470,000 on July
9 1906 and the remainder in three annual instalments of
$520,000 on July 9 in 1907, 1908 and 1909. The authorized
share capital, £500,000 in £1 shares; present issue, £450,000,
of which £300,000^is offered for sale in London at £1 5s. per
share.

—

industrial bonds.

—

Farson, Son & Co. announce that they have taken over
the good-will of the business of Duke M. Farson & Co. and
that Mr. Duke M. Farson will be formally associated with
the new firm of Farson, Son & Co., Chicago and New York.

—

The business of Duke M. Farson & Company of Chicago
was transferred, on the 23d inst., to Farson. Son & Company
of Chicago and New York. Duke M. Farson will be formally
associated with the firm.

—

The United Rnilways Company of St. Louis, its history
Westinghouse Machine Co. Litigation. The company and present condition, is the subject of a pamphlet (with
on Feb. 9 filed a bill of complaint in the United States Circuit map) issued by the bond department of the Mercantile Trust
Court at Pittsburgh in an action against the Allis-Chalmcrs Co. of St. Louis.
Co. for alleged infringement of patents used in the WestingThe first number of the "Curb News," a weekly outside
house-Parsons steam turbine, of which 1 ,000,000 horse power market review, edited by Peter Bennett of this city, made
arejn'operution. The^Westinghouse Company, it isjstated, its appearance on Feb. 17. •;
\

—

—

—

\

THE CHRONICLE.

458

[Vol. Lxxxii.

Reports and Jiotnmtnts,
NORTHERN CENTRAL RAILWAY COMPANY.
PIPTY-FIRST ANNUAL REPORT— FOR THE YEAR ENDING DECEMBER
Office of (he Northern Central

31 1905.
Cumpariaon with

Railway Company.

Baltimore, Md., February \Uh 1906.
To the Stockholders of the Northern Central Railway Company
The Board of Directors herewith submit an abstract of
their report for the year ending December 31st, 1905, with
such data relating to tlie lines embraced in your System as
will give a clear understanding of their physical and financial
condition.

Dec. 31 1904.
or
Dec
'

i

capiuii^^S-.
Capital steck scrip

of all

From

S
8,191.900 01

freight traffic

"

passenger

"
"
"

transportation of mails.
miscellaneous sources..

1.858.24171
232,788 70

traffic
expre.ss traffic

Funded Debt—

\-

120,281 01
128.750 98

+ 196,976
+ 123,809
+ 22,278
+ 9,320
+ 4,993

27
40
53
04
71

For maint*of way and struc. 1,444,264 75
For maintenance of equipment 2,109,370 89
130,866 47
For conduct, trans, traffic
For conducting transportation,
4,617,41137
operation.!..
168,652 36
For general expenses

74

H%,

31
17

97
27

1,092,965 02 +351,299 73
1,890,763 78 +218,607 11
146,045 66 —15,179 19

160,697 53

8,470,565 84

7,829,253 05 +641,312 79

Net Earnings from Operation. 2,061,396 67

2,345,270 90 —283.874 33

Operating Expenses

—

Deduct
Rentals paid roads operated

on

Net Operating Earnings Northern Central Railway Co.. 2,038,080 62
To which add—
813 ,485 47
Interest on investments

»,000 00

00
00
00
77

—

Vouchers and pay-roll checks
Interest accrued on funded debt
Due other companies
Interest matured on bonds and dividends
uncollected

Insurance fund
Dividend payable Jan. 15 1906_

-600,000 00

968 ,930 47
123,891 25
370,006 25

+ 32,586,24
+ 73,795

39

3,266 50
35,567 94
687,734 00

+ 179
+ 12,996

50
18

Depreciation

fund

coal lands of the
Pottsville RR. Co..

for

+ 15,855
+ 64,576

00

2,253,153 33 —215.072

+ 119,079
+ 8,519

694,406 08

537.248 56
3,571,352 91

12

71

39
40

30,673,870 65 —313,011 57
H. TATNALL.

M. RIEBENACK.

Treasurer.

Comptroller.

PERCENTAGE OF OPERATING EXPENSES TO GROSS EARNINGS
Comparison with 1904.

125,799 94
209,613 36

34,964 03
113,679 82

+ 90,835
+ 95,933

91

1.157,418 17
3.195,498 79

843,049,93
3.096.203 26

+ 314,368
+ 99,295

24
53

345 ,682 54
347,315 00

328,062 96
413.255 00

+ 17,619

58

aRents

—

Current Liabilities

Shamokin Valley &
Profit and Loss.

8,519 40

=

Amount received from P. RR.
Co., proportion of loss in
operating Elmira & Canandagiua division and miscellaneous accounts

Gross Income

-7,000 00

2,189.996 41

—68,801 62

92,117 57

23,315 95

basis of net earnings

Interest, general account

—1.000 00

5,431,872 77
250,000 00

Extraordinary Expenditure Fund

+78,630 31
+7,954 83

4,538,78106

.

,

10.531.962 41 10,1 74,523 95 +357,438 46

Gross Earnings

„^"".i?'.y°.
.-.Consolidated general mortgage gold coupon
bonds:
Series A (sterling or dollar), 6% sinking
fund, matured July 1 1904
Series C, G% matured July 1 1904.
Million Loan (Series D), 6%, matured
July 1 1904...
Series E, 4
1,757,000
due Ai)ril 1 1925
Second general mortgage 5% currency coupon bonds, due Jan. 1 1920:
Series A
2,565,000
Series B
1.000,000
Real estate mortgages
and ground-rents
109,872
payable
•

$

7.994.923
1,734.372
210.510
110,960
123,757

'

T

Mortgage to |Jate of Maryland to secure

or
—Increase
Decrease.

1904.

1905.

Linct Directly

Operated.

17.193*50 00
50 00
^^ 193 400 00

CENTRAL
GENERAL INCOME ACCOUNT OF THE NORTHERN1904
RY. CO. FOR 1905 AND COMPARISON WITH
Earnings

—

+ lnc.

(

From which deduct
Fixed rentals of leased roads . .
Interest on bonded debt
Interest on mortgages and
ground-rents
Interest car trusts
Interest general account
Interest on equipment
,

,

Taxes
Advances to Elmira & Lake
Ontario RR. Co...

6.784
3,881
69,458
1,133
151,323

6,535 65
3,234 61
""'3'

,097" 44

211.282 26
39,563 65

54

—65,940 00

59
50

—248
—646

34
36

—69,458 34

Increase.
Decrease.
--3.48%
1905, Rents are shown as an item of "Other
Income" instead of in Gross Earnings, and the accounts for 1904 in
this report are arranged in the same manner, so as to show proper com-

1905.

80.43%.

Commencing with Jan.

a

1

ison.

TONS,

TONNAGE MILEAGE, AND FREIGHT TRAIN MILEAGE.

94

Freight

89

15

+ 1 ,964 08
+ 59,959 11

45,172 89

—5,609 24

Tons

Tonnage

Carried.

Mileage.
1,266.189,241
40.564.477

...19.431,721
1,380.166

1905
Increase
Decrease

Train
ailileage

2,942,096

113.032

Percentage of increase or de956.711 15

-62,360 64

1,019.071 79

2,238,787 64 2.077,131 47 + 161,656 17
Net Income.
.$2,238,787 64
this Net Income for the year...
the following amounts have been deducted:
25
principal
Car
Trusts
$10,226
Paj-ments account of
687,734 00
Dividend of 4%, paid July 15 1905
687,734 00
Dividend of 4%, paid Jan. 16 1906

From

—

applied toward Extraordinary Expenditures on track, yards and equipment for the

Amount transferred
ture Fund

Per Ton Per Mile.

wUh

with 1904.

Mile.

1904.

1905.
Increase
or
Decrease

Cents.

250,000 00

Dec. 31 1904.
Dec.
or
$

+ Inc.

Assets. —

—

13,388,059 23
2.61.'i,018 98
4,980,283 77

Cost of railway
Cost of real estate
Cost of equipment

20,981,361 98

—

Stocks of railroads and other corporations.
of railroads and other corjjorations.
Mortgages and ground-rents receivable

Bonds

Bills rercivablc, &c
Net traffic balances

individ\ials

5,249,218 95
1,516.000 00
1,419 00

+ 25,000
—31 ,000

00
00

6,766.637 95

—

Cash deposited in banks
Due from accnts...
and companies

controlled companies

Insurance fund..

and supplies

975.761 81 —273,088 32
089.843 .W + 172,083 30
+ 50 00
14,550 00
+ 00.095 48
72.570 28
216,834 20 —87,705 27
23,022 88
+ 23,022 88
1,000 00
394,840 79 —224,669 64

Per-

Increase
or

centage.

Decrease

Percentage.

for coal lands of the
Yalley & Pottsville RR. Co

fund

536.841 18

Earnings
Expenses

Net earnings..
a Note.

0.647
0.505
0.142

Cents.

—0.005

+ 0.022
—0.027

Cents.

0.77
4.55
15.98

Cents.

278.4
217.5

+ 16.7

60.9

—7.0

+ 23.7

6.38
12.23
10.31

mileage represents mileage of freight and passenger
— Trainhelping,
shifting or work train mileage being excluded.

trains only;

all

coal tonnage of the main line in 1905 was 5,888,784
net tons, an increase of 517,482 net tons.
The total coal tonnage to Baltimore was 1,068,970 net
tons, an increase of 140,402 net tons.
The coal tonnage of the Lj-kens Valley Railroad was 611,945 net tons in 1905. an increase of 94,033 net tons.
The coal tonnage of the Shamokin Division was 2,447,634
net tons, an increase of 49,949 net tons.
The coal tonnage of the Elmira & Williamsport Railroad
was 1 ,410,240 net tons in 1905, a decrease of 724,104 net tons.
The coal tonnage of the Ehtiira & Lake Ontario Railroad
was 895,932 not tons in 1905. a decrease -of 73,276 not tons.
The aggregate movement of bituminous coal was 3,488,802
net tons, a decrease of 248,350 net tons, and of anthracite
coal 5,050,859 not tons, an increase of 106,483 net tons, as
compared with the previous j-ear. The tonnage of both
classes amounted to 8.539.661 net tons, as against 8,681,534
net tons for the preceding year, being a decrease of 141^873
net tons in the actual aggregate of coal transported, irrespective of the number of divisions over which it was moved.
The amount of grain received at the elevators at Canton

The

was:

2,389,029 54

ShamokiM

Train

Comparison

to Extraordinary Expendi-

Comparison with

Current Assets

aPer Freight

Comparison
•

827.721 48
$25,371 91
Balance transferred to credit of Profit and Loss
39,204 21
Sundry credits during the year
. 3,506,7 76 79
Amount to credit of Profit and Loss Dec. 31 1904
$3,571,352 91
Amount to credit of Profit and Loss Dec. 31 1905
a Commencing with Jan. 1 1905 Rents are shown as an item of "Other
Income" instead of in Gro.ss Earnings, and the accounts for 1904 in this
report are arranged in the same manner, so as to show proper comparison.
GENERAL BALANCE SHEET DECEMBER 31 1905.

Cost of Securities

3.70%,

MILE.

$577,721 48

year

Depreciation

3.31%

7.65%

1905.

Amount

Vlaterials

--

1,385,694 25
$853.093 39

Balance
Deduct

Due from
Due from

crease

AVERAGE EARNINGS. EXPENSES. AND NET EARNINGS PER

+16.000 00

30,673,870 65 —313,011 67

11, 499, 142 bushels

1905
1904

--- 6,053,258

An

increase Of

^446,834

"

•

THE CHRONICLE.

Fhd. 24 1906.
The

lount of grain received at the local elevator, No. 2,
Baltimore during the year was 2,534,089 bushels, an increase of 170,092 bushels.
The principal items of tonnage, besides coal and grain,
were lumber, iron ore, manufactures of iron, fruits and
vegetables, cement, brick and lime and petroleum.
?'

in the city of

PASSENGERS, PASSENGER MILEAGE. AND PASSENGER
TRAIN MILEAGE.
4,447,637
187,258

Passenger
Mileage.
88,840,460
6,647,970

4.40%

8.09%

Passengers
Carried.

1905
Increase

Percentage of increase:

Passenger
Train
a.Milrage.

2.160,772
44,336

2.09%

AVERAGE EARNINGS, EXPENSES, AND NET EARNINGS
PER MILE.
Per Passenger Per Mile.

aPer Passenger Train Mile.

Comparison

Comparison

with 1904.

1905
Increase
or
Decrease.

Per-

2.092
2.332

Increase
or

centage.

Cents.

Cents.

Earnings
Expenses

with 1904.

1905.

Deer ease.
Cents.

+ 0.011

0.85
0.47

107.0
95.9

Cents.
+ 5.4
+ 5.8

+ 0.029

13.74

11.1

—0.4

—0.018

\

Percent-

\

age.

1

'

,

5.31
6.44

Loss.

Net Earnings..

0.240

3.48

—

Train mileage represents mileage of freight and passenger
a Note.
trains only; all helping, shifting, or work train mileage being excluded.

GENERAL REMARKS.
The

freight earnings for the year show quite an increase,
due to larger shipments of all classes of tonnage except
bituminous coal; while the passenger earnings also show a
substantial gain.
This increase, however, is more than offset
by an increase in expenses, due mainly to the cost of rebuilding your grain elevator in Baltimore, which was destroyed by
fire, -nd to increased repairs to motive power and equipment
made necessary by the growth of your traffic, and to the
substitution of standard freight cars for those of lower

capacity.
Your net operating earnings, therefore, show a decrease
of $283,874 33, but there was an increased income from your
investments and also in the amount of rentals received from
the Pennsylvania Railroad Company for the use of your hne
between Enola and Wago Junction and in its contribution
toward the losses incurred on your Elmira & Canandaigua
Division.
As your fixed payments show a decrease, the net
income for the year, after the payment of all charges, increased $161,656 17, and amounted to $2,238,787 64.
Out
of this were paid the regular dividends amounting to eight
per cent, and the sum paid on account of the principal of
car trusts, leaving a balance of $853,093 39.
Against this
were charged the extraordinary expenditures not taken care
of through the fund of $750,000 set aside last year, and also
the amount appropriated toward future similar improvements, $250,000; the balance, $25,371 91, being transferred
to the credit of Profit and Loss.
Extraordinary Expenditure for the year were as follows:
,

and your Company.

459
The most important, however, and

the one involving the largest expenditure, is a Belt Line
around Baltimore for the movement of through freight.
Such a line has become necessary to relieve the lines of your
Company and of the Philadelphia Baltimore & Washington
Railroad in Baltimore, which are much congested and will
soon be taxed beyond their capacity. By the building of
this line, your facilities for handling the business of Baltimore
will be greatly increased, as the present tracks will then be
used only for passenger trains and for the freight traffic of
Baltimore proper. It will be constructed jointly by your
Company and the Philadelphia Baltimore & Washington
Railroad Company, and the capital needed therefor will be
jointly proA'ided, as will also be the case with the new passenger station and the Sunbury Yard.
There was a net increase of 15.34 miles in Company's
There were 6,861 tons of new steel rails
tracks and sidings.
and 250,742 cross-ties used in repairs and renewals.

Twelve new standard freight locomotives and one new
standard passenger locomotive were purchased and added to
the equipment; and three new standard passenger, one new
standard freight and four new standard shifting locomotives
were purchased to replace a like number of locoinotives sold
or condemned.
Sixteen cabin cars, one box car and three hundred and
twenty-two gondola cars were built to partially replace cars
destroyed or sold.
Mr. George C. Wilkins, General Agent, at Baltimore,
having been retired under the provisions of the Pension Department February 1st 1905, Mr. H. W. Kapp was appointed
to fill the position in addition to that of Superintendent of
the Baltimore division.

Mr. M. Riebenack was appointed Comptroller February 1st
1905, vice Mr. R. W. Downing, retired under the provisions
of the Pension Department, and under a revision of the
Organization, March 1st 1905, the following appointments
were made: Mr. Edward A. Stockton, Assistant to Comptroller; Mr. Samuel Anderson, Auditor, and Mr. John S.
Donaldson, Assistant Auditor of Miscellaneous Receipts
and Accounts; Mr. Jefferson Justice, Auditor, and Mr. H. C.
McKeever, Assistant Auditor of Merchandise Freight ReMr. George B. Rudduck was also appointed Assistceipts.
ant Auditor of Disbursements, vice Mr. Edward A. Stockton, promoted; and Mr. Matthias Homer, Assistant Auditor
of Passenger Receipts, vice Mr. Samuel Anderson, promoted.
Mr, Eden B. Hunt was appointed Assistant Superintendent
of the Voluntary Relief Department, vice Mr. Matthias

Homer, promoted.

Your Board have to record with deep regret the death,
after four weeks' illness, on the 30th of September 1905, of

Mr. Sutherland M. Prevost, Third Vice-President, and a
Mr. Prevost first entered the railof your Board.
road service when nineteen years of age, on the Elmira
After an experiDivision of the railway of this Company.
ence of several years with various companies, he entered the
service of the Pennsylvania Railroad Company, continuing
with that system until his death. On May 1st 1885 he became the General Superintendent of Transportation of this
Right of way.
$5,814 86 Company, was promoted to the position of General Manager
Extension of four-track system Baltimore to Mt. Vernon..
30,353 00 on March 1st 1893, and on February 17th 1897 was elected
Extension of four-track system Wago Junction to Falls' Yard
242,739 76
In the various posia Director and Third Vice-President.
Extension of four-track system New Cumberland to Enola
(including new line, Bridgeport)
375,158 89 tions occupied by him, he displayed exceptional ability,
Enola Yards, one-fourth cost
165,965 61
and the Board realize fully the personal and official loss reElimination of grade crossings
25,415 30
Telephone and telegraph lines
29,270 00 sulting from the death of so able and gifted an associate.
Canton, extension of ore pier, etc.
16,693 99
On October 10th 1905 Mr. Henry Tatnall was elected a
Baltimore Shops Power plant
13,643 51
Director to fill the vacancy caused by the death of Mr. PrePassenger stations
17,060 00
Extension of sidings
23,315 14 vost, and under a revision of the Organization adopted on
Interlocking
31,655 25 the same date, Mr. Samuel Rea was elected Third ViceIncreased water facilities
24,824 66 President; Mr. John B. Thayer, Fourth Vice-President, and
Miscellaneous
79 75
Mr. Henry Tatnall, Fifth Vice-President.
Total
$1,001,989 72
Your Board also have to record the death, after a brief
Equipment
illness, on October 27th 1905, of Mr. Augustus W. Hendrix,
Portion of cost of rebuilding 438 Pool freight cars
$53,165 00
Equipping freight cars with air-brakes
9,813 00 the Treasurer of this Company, who had been in /ailing
Locomotives
223,568 16 health for some years.
Mr. Hendrix entered the service
Tools and machinery
27,273 97 January 15th
1872, was appointed Cashier October 1st 1882,
Total
$313,820 13 and was elected Treasurer October 1st 1893, and during his
Real estate
..$21,926 63
entire connection with the Company had faithfully and
Less credits..
10,015 00
efficiently discharged the responsible duties entrusted to him.
11,911 63
Mr. Henry Tatnall was elected Treasurer October 31st 1905
Aggregate
$1,327,721 48 to fill the vacancy caused by the death of Mr. Hendrix.
Under a revision of the Organization adopted the same
It will be seen that the heaviest outlay in this respect was
Mr. F. P.
in the extension of your four-track system from the Falls' date, the following appointments were made:
Yard to Wago Junction and from New Cumberland to Enola, Whitcraft, Assistant Treasurer, and Mr. H. D. Thompson,
in order to complete the portion of your road which forms a Cashier, located at Baltimore; Mr. A. J. County and Mr.
link in the new low-grade freight line between the summit of K. S. Green, Assistant Secretaries; and Mr. John C. Hines,
the Allegheny Mountain and tidewater, and in the furnishing Assistant to Secretary.
of additional facilities for the yard operated in connection
The Insurance Fund amounted to $908,046 66 on Decemtherewith.
The balance of the expenditure was on additional ber 31st 1905, being a gain for the year of $65,294.
track, passenger and freight facilities, tools and machinery,
Under the operation of the Pension Department, there
and on improvements and additions to your motive power were carried on its rolls at the end of the year 145 employes,
and pensions were paid during the year amounting to
and equipment.
Several important improvements will have to be under- $33,763 34.
taken during the coming year. One is a new passenger
It gives your Board pleasure to extend its thanks to the
station at Baltimore for the joint use of your Company and officers and employees for the faithfulness and efficiency
the Philadelphia Baltimore <fe Washington Railroad Com- shown in the disdiarge of tlieir duties during the past year.
pany; and another, the need for which is urgent, is a new
By order of the Board,
freight yard at Sunbury for the interchange of traffic between
A. J. CASS ATT,
Attest:
the lines centering at thnt point belonging to the sj^stems of
President.
STEPHEN W. WHITE,
the Pennsylvania Railroad, the Philadelphia & Erie Railroad
Secretary

—

—

member

THE CHRONICLE

400

Vol. lxxxii

DOMINION COAL COMPANY, LIMITED.

REPORT OF DIRECTORS FOR YEAR ENDING DECEMBER
OUTPUT.
Thf output

of 1905 was 3,189,057 tons
3,023, r)22 tons for 1904.

as

owners of their hou.scs on paying a little more than their
present monthly rent, while it is hoped the Company will
also gain by .securing the services of a steady, permanent

compared with

body of employees.
Your Din ctors, following a well-defined plan

EARNINGS.

The

net oarnings from the operation of the

for future
operations, have, during the year 1905, made large expenditures for necessary equijjinent and for deveh pment to provide for the natural exhaustion of the older workings, and
in order to coi.tinue this programme it will bs necessary
to make .similar expenditures in 1900.
It may, however,
be pointed out that in so far as these expenditures are
chargeable to capital account the amount so expended to
the extent of 75 per cent of the outlay may, if deemed
advisable, be subsequently capitalized (after 1st November
1906) by issuing the additional $2,000,000 First Mortgage
Bonds or any part thereof at present retained in the Company's treasury.
Meantime, your Directors have considered it the wiser policy to postpone payment of dividend
on the common stock for the present. They trust that
the Shareholders will approve these conservative measures,
which, in wiping off the floating debt and providing Uberally
for the efficient equipment and development of the mines,
remove impediments to the distribution of future profits;
and these, setting a.side the possibility of unforeseen accidents, may confidently be anticipated to result from the
continued prosperity of the Company's operations.

Company's

mines, steamships, i-aihvay, stores, rents, etc., for the
vear 1905 were $1,573,832 19, as compared with $1,620,475 33 for the year 1904.
The general business of the Company during 1905 was
well uj) to the standard of 1904, but the largely increased
requirements of the Dominion Iron and Steel Company
necessitated an increased output from the mines, and as
the contract with that Company is not at present a remunerative one, the average price realized from sales in
1905 was consec|uentlj'^ less than in 1904. The decrease in
net earnings shown above would, however, have been
greater but that the operating expenses, outside actual
cost of mining, were considerably reduced.
The sur]flus earnings, after providing for interest on bonds,
preferred stock dividend, etc., have been added to the
Company's general surplus, against which account have
been charged expenses of reorganizing the Company's securities and an amount to represent depreciation in value of
merchandise in the Company's stores.

'

i

|

;

j

;

;

I

'

COMPANY'S PROPERTY.
The program

of
operations decided upon some time
ago for the purpose of placing the Company's property and
equipment in a state of thorough efficiency has been steadily
pro.^ecuted during the year 1905.
Development Work. Steady progress has been made with
the opening and equipment of the new mine known as
Dominion No. 6 on the Plielan Seam, and a substantial daily
output will be obtained from this mine after the opening
of the St. Lawrence navigation this year.
The Emery Scam is now being worked through the old
workings at Dominion No. 5 (Reserve); shafts are also
being .sunk to this .seam at Reserve and at Dominion No. 6,
and it is expected that by the opening of navigation the
work will be so far advanced that this seam will yield an
output of about one thousand tons per day.
Development work at the other mines has been continuously carried on and is now well in advance of the workings.
Electric Plant.
Contracts for an electric plant situated
at Dominion No. 2 have been let.
This plant will be used
for furnishing the auxiliary power required at the mines
for pumping, ventilation and underground haulage, etc.
The gei;eral adoption of shearing machines and the increased requirements of the coal-cutting machines will
practically exhaust the capacity of the compressed air
plants at the different mines leaving such auxiliary requirements unprovided for. The central electric plant is needed
to make good this deficiency, and will also carry out the
work more economically than under present conditions.
Rolling Stock. -Your Directors, recognizing that an ample
equipment of rolling .stock, particularly cars, is a necessity
for rapid delivery, for avoiding delays to ships and for
saving in operating expenses generally, decided this year
to purchase one hundred and fifty 50-ton steel cars at a

—

—

—

Respectfully submitted,

JAMES ROSS,
President.
!

BALANCE SHEET

now

thororghly efficient and .serviceable condition;
this repair work has been charged to oj:erating expenses.
The total amount expended during the year 1905 on
capital accoiuit, including the above purchase of steel cars,
is $497,605 19.
All other development work, renewals and repairs have
bef'ii charged against operation.

Assets.

GENERAL.

ye'iT endi-g Far year ending
Dec. 31 1904. Dec. 31, 1905.
$22,600,597 83 $22,970,516 00
144,844 60
130,569 81

For
Balances—

I

,

Property account

i

Less written ofT

per last report
for depreciation
a.s

j

$22,470,028 02 $22,825 671 40
500,487 98
497.605 19

;

Add

capital expenditure since..

j

$22,970,516 00 $23,323,276 59
i

Cash in banks and offices
Accounts receivable
Coal on hand
New supplies in stores and warehouses-Insurance paid in advance
Steamship hire paid in advance
Cash and securities in New Ens;land Trust
Company for sinking fund
Securities of other companifs

i

1

'

j

151.746
702.360
262,715
795,928
31,692
35,620

73

251, .550 82

50
52

825,083
302,400
763,257
19,360
22,234

76

52
90

70
46
09
98
87

261 ,966 84
191 ,000 63

189,964 63

$2,433,032 40

$2,373,852 55

j

$25,403,548 40 $25,697 129 14

I

'

Liabilities.

Capital stock, common
Capital stock, preferred

|

00 $15,000,000 00
00
3,000,000 00
00
5,000,000 00
00
72,000 00
58
353,785 08
29S.5.59 47
265,413 46
2,380,000 00

$15,000,000
3,000,000
2,435,000
72,000
394.421

mortgage bonds
Mortgages

1

First

Cape Breton real estate debentures
Dominion roUing stock debentures
Amount payable Dominion Steel Co

'

$23,579,981 05 $23,691,198 54
887,500 00
$120,000 00
84,0.56 62
97,833 12
311,222 77
200,937 56
71,000 00
58,250 00
41,666 66
54,915 66
73,583 31
117,157 10

Accrued dividend— preferred

Unpaid royalty
Accounts payable
Notes payable
Bond interest, accrued.Contingent fund
'

Sinking fund, accrual
'

$706,316 94
$226,912 13
890,338 28

$611.805 86
$1,117,250 41

$1,117,25041

$2,140.92179

—

Surplus Balance from previous vears-..
For current year

1,023.67138

j

I

:

j

Less written off to provide for reorganization of securities and depreciation in
value of merchandise in stores

746,797 05

'

81.394.124 74

825 ,403 ,.548 40 $25,697 129 14

I

j

j

[

PROFIT AND LOSS ACCOUNT FOR YEAR ENDING DEC.

31, 1905.

(Compared with 1904.)
For iienr ending For year ending
Dec. 31. 1904.

Dec. 31, 1905.

$1 ,620.475 33

$1 ,573.832 19

$148.818 16
240,000 00

$212.249 73
220,916 04

202,996 24
138.322 65

96.679 94
20,315 10

Net ])rocecds from sale of coal and net
income from steamships, railway,
stores, real estate, etc
|

[

Less
Interest on bonds.-.
DividMul on preferred .';tock
Miscellaneous interest and premium on

bonds retired
Sinking fund under former trust deed.

'

.

The Company has

laid before its employees a scheme for
the purcha.se of their homes on the installment j)lan, such
as exists at other collieries in this country and abroad, and
it is expected that this will be largely taken advantage of
by the men. The workmen will gain thereby in becoming

1905.

Deceinl>er 31st 1904.1

|

It will

from the general surplus.

AT DECEMBER 31ST

i

in a

FINANCIAL POSITION.
be noticed from a perusal of the annexed balance
sheet that the Company's financial position has greatly
improved during the year 1905. In May of that year the
Shareholders gave their approval to a scheme for the rearrangement and consolidation of the indebtedness of the
Company, the main features of which were the substitution
of an i.^sue of $5,000,000 5% Bonds in ))lace of the outstanding .$2,435,000 67o Bonds and $2,380,000 Time Notes;
and the substitution of an issue of $3,000,000 7% Preferred
Stock in place of a like amount of 8% Preferred Stock.
Thes(> changes, which, besides other advantages, will effect
a larg" saving in fixed charges, necessitated a considerable
outlay in premiums on oki securities redeemed and other
expenses, which amount your Directors have written off

.\S

(Compared with

j

cost of $162,000.
The greater number of the Company's
wooden cars have been remodeled and practically rebuilt
in the Company's own shops, and this part of the equipment
is

31ST 1905.

$730.137 05

$550.160 81

$890,338 28

$1,023,671 38

Certified correct.
J.

R

BL.4.CKETT, Auditor.

THE CHRONICLE.

Feb. 24 1906

3ijixjc

COTTON.

(Sjmmixzxciixl ^imjes^

STATEMENT OF WORLD'S SUPPLY AND TAKINGS
ON PAGE 464.

COMMERCIAL EPITOME.
Friday Night, Feb. 23 1906.
on the whole has been so|newhat better not only
seasonable lines of goods, but also as regards the spring

Traele
in

demand
public

and

for various kinds of merchandise.

is

still

in the

main very hopeful

prices are very generally steady.

461

The business

as to the future

Contradictory reports

are rife as to the probabilities of a strike of the coal miners,
but on the whole the outlook is supposed to be somewhat

Friday Night, Feb. 23 1906.
as indicated by our
For the
telegrams from the South to-night is given below.
week ending this evening the totai receipts have reached
136,015 bales, against 131,235 bales last week and 131,605
bales the previous week, making the total receipts since the
1st of September 1905 6,131,301 bales, against 6,896,497
bales for the same period of 1904-05, showing a decrease
since Sept. 1 1905 of 765,196 bales.

THE MOVEMENT OF THE CR9P

Receipts at

—
-

Germany

not adopt a retaliatory tariff at this time.
The speculative markets have been generally quiet.
Lard on the spot has been in rather light demand and the
export sales of City have been only of a restricted volume.
Prices have continued to decline, Western selling of late at
7% to 7%c. and City at T^^-gC, the week's production havRefined lard has
ing been generally bought up last week.
met with only a moderate demand at best, and has declined
that

will

to 8.100. for the Continent.

Speculation in lard for future

delivery has, on the whole, shown but little life, and prices
have b:^en steadily declining, affected partly by the decline
in grain while less is said about hog cholera and more about
expectations of larger receipts of hogs. There is an idea that
packers are .selling the later months and buying the near on
hog products generally.

Pensacola, &c-

Savannah

.

.

Brunswick.

_

M07l.

Sat.

more favorable for a settlement of the dispute between the Galveston ..
Pt. Arthur, &c.
men and the coal operators. The Moroccan negotiations New
Orleans.
have had but little effect and the latest reports indicate Mobile

Tues.

Wed.

Thurs.

Fri.

Total.

57,903
4,789
44,107
1,744
8,421
10,183
1,405
1,189
12

7,867
4,789
4,898
371
241
1,188
1,405

11,910

6,217

14,464

10,886

6,533

7,474
100
54
1,313

6,102
230
7,334
733

9,137
187
661
3,501

8,i6i

8,395
417

74

389

2.30

106

13

377

56

38

171

67

1.32

53

517

361

786

454

1,234

482

238
478

218

49
54
741

3,555
478
49
472
741

35

450

439
131

888

2,560

.

Cliarleston

12

Georgefn, &c.
Wihiiinston ..

Washingt'n,&c
Norfolk ... ..
N'])ort N., &c.

New York
Boston
Baltimore

—

Tot

.

week

this

106

25

75

50

365

21,423

24,119

Philadelpliia.

21,929

28,880

22,681 136.015

16,983

,

The following shows the week's total receipts, the total
since Sept. 1 1905, and the stock to-night, compared with
last year:

DAILY CLO.SING PRICES OF LARD FUTURES IN CHICAGO.
Sat

May

,7.82!-^

lielivery

-7.921^
Julv delivery
September delivery ,8.05

Moil

7.82^
7.92H
S.05

Tiies.

Wed.

7.75
7.85
7.923^

7.721^
7.82'A
7.923^

Thurs.
Holi-

day

@

@

d{>clined to 14c. for Western fir.sts.
Brazil grades of coffee have declined, partly in sympathy
with some depression in "futures," and at the lower prices

have

the business has been but moderate. No. 7 Rio is quoted at
SJ^c. and No. 4 Santos at 8J^c. West India growths have

moderate demand, with good Cucuta 9='4c. and good
average Bogota lie. Speculation in the market for contracts
has been dull at declining prices under continued European
selling and liquidation by holders generally, especially in
March contracts, with the approach of "notice day," Feb. 24.
The closing asked prices were as follows:
been

in

6.70c. June
6.70c. July
6.80c. AURUSt
6.90c. iSeptember

February
March...
April

May

7.00c. October
7.10c. November
7.20c. iDccember
7 .30c January
I

I

.

.

I

7.40c.
7.50c.
7 .GOc.

sugar has been quiet and in the main steady, with
European markets somewhat stronger. Centrifugal 96-deg.
Refined
test is 3.373^c. and muscovado 89-deg. test 2J^c.
sugar has been in only moderate demand, with granulated
Spices have been rather ciuiet, but nutmegs
have been veiy strong. Tea has been in only moderate de4.35 to 4.40c.

Pensacola, &c.
..

Charleston
Georget'n, &c

Wilmington
Wasliingt'n,
Norfolk

&c
516,618
16,262
2,333

3,555
478
49
472
741

N'port N., &c.

New York
Boston
Baltimore

.50,547

50,616
4,655

450

Philadelphia ..

Stock.

Since Sep
1 1904.

This
week.

31,409 1,948,226
847
151,933
39,878 1,876,592
238,224
1,610
476
137,483
14,547 1,308,508
503
150,702
1,551
179,577
781
26
277,933
2,262
122
497,052
6,.325
388
8,103
131
21,693
46,349
567
201
37,625
239
9,594

136,015 6,131,301 100,960 6,896,497

Total

1905.

1906.

172,002

131,426

307,634
33,793

284,070
42,398

75,187
13,608
28,638

65,605

2,673

12,128

36,618

29,1 58

15,781
20,708

197,618
6,926
13,618
4,120

107
68,272
2,905
7,889
1.787

892,435

682,184

-

_

.

In order that comparison may be made with other years,
totals at leading ports for six seasons:

we give below the

N'p't N.,&c
All others..

11,638

2,117

4,318

42,612
43,428
3,579
24,395
2,090
4,667
10,526
561
12,081

wk

136,015

100,960

66,.59 7

143,939

32,256
39,878
1,610

23,141
25,431

.

62,692
44,107
1,744
10,183

14,.547

6.357

Oli'ston.&c.

1,201

517
3,5.55

1,577
2,262
6,325

460

Wilm'n.&c.

478

388

Galv'n, &c.
N. Orleans.
Mobile

Savannah
Norfolk

. .

Tot. this

Since Sep.

1

812
181
4,411
1 ,486

1901.

1902.

1903.

1904.

1905.

1906.

Receipts at

55,499
57,240
1,555
15,448
4,097
1,769
6,760
693
13,286

31,220

156,347

124,599

39,681
1,282
10,218
1,979
2,461
5,333
168
23,257

6,131,301 6,896,497 6,393,275 6,509,630 6,371,894 5.888,007

The exports for the week ending this evening reach a
total of 154,874 bales, of which 86,917 were to Great Britain,
24,163 to France and 43,794 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1905:
Week

i

From

endinff Feb. 23 1906.

Sept

.

1

1905 to Feb. 23 1906.

Exports

have continued firm. S(>rd l(>af has been in only moderate demand, but
as the supply has bee i small, prices hiivc still been firmly
maintained. A feature of interest will be the opening of t\\r,
Amsterdam inscriptions on March 9. Active German competitio)i is expected and there is some anticipation of better
prices. Sumatra .has been in moderate demand and stead
Havana, owing to bad crop accounts, continues firm. Pric(-s
of all grades are from $10 to $25 per bale higher than they
were last October.
CopptM- has been quiet but firm at 17J^(g:il8J/^c. for Lake
and 1754C")18c. for electrolytic. Lead has been dull and weak
Spelter has been quiet and depn^s.sed at
at 5.35(i'»)5.45c.
Pig iron ha.-r been weaker at $18 25(^18 75 for
6(oU).inc.
No. Northern with No. 2 Southern quoted at $17 75Cf')18 25.
Refined ))etroleum has been in fair demand at 7.60c. in
bbls., 10. 30c. in eases and 4.70c. in bulk. Nai^htha has remained at 12c. for 71 degrees. Spirits of turpentine has been
quiet hut steady at 72l4((i]72}/^c. for machine barrels. Rosins
ha^e been firm but rather quiet. Common to good strained
prices

j''.

1

57,903 2,090,384
125,467
4,789
44,107 1,171,983
197,563
1,744
132,707
8,421
10,183 1,183,655
152,396
1,405
152,582
1,189
12
895
517
282,638

.Savannah

Brunswick

Since Sep
1 1905.

This
week.

Galveston
Pt. Arthur, &cNew Orleans .
Mobile

7.5.'Jc.

Raw

mand.
Kentucky tobacco has been quiet and

Receipts to
Feb. 23.

7.85
7.95

Pork on the spot has advanced but the business at the rise
has been comparativelv hght, with mess $16 50(fl^$17 00,
17 75 and family $17 00
17 50.
Cut
short clear $1.5 50
meats have been firmer but rather quiet; pickled shoulders
are' quoted at 63/^c.; pickled hams 93<i@9J^c., and pickled
bellies 14(crU0 lbs. 8^@93^c. In beef there has been a fair
business at steady prices; mess is quoted at $8(oi8 50; flank
$9 25(0(9 75; packet $10 50@11 00; family $12(5)13, and extra India me.ss at $17 25@18.
Tallow has been quiet with SJ/gC. asked. Stearines have
been quiet but .steady with oleo7i^c. and lard 8J4c. Cottonseed oil has been ciuiet and weaker at 30?<4C. for prime yellow.
Fancy grades of butter are still scarce and quite firm; Western
creamery 18(§)19c. for fir.sts and 20(«),21c. for extras. Cheese
has been in fair demand and firm at 113^@143^c. for State
factory, full cream. Fi'esh eggs have been very plentiful and

1904-05.

1905-06.

Fri

7.77M

,

rosin $4 20(«)4 25. Wool has been in rather better demand
and stronger. Hops have met with a moderate demand at
generally steady prices.

ContiBritain. Fr'ncel nent.

Cialveston
I't

.

Great

Great

Iroin

20.44!)

Arthur, &c.
Orleans..

New

24,504

8,746

4.352
49.250 15.239

Total.

•

•

825.237 270,542

53,759|
4,352,

.39.269

464,434
36,538
54.404
142,776
74,604

1.714 06.233

Savann-aU
lininswick
Charleston
Wilmliiston
Norfolk
N'p't Nnws,
Ni>\v

1.100
4.535

0,130

7,230
4,535

157,281
2S.09S

--.-

1

&c

York

I'liiladelnhia ..

2,162
3,071

25
5.040

178

800
103

1

25
7.380

•

45..SS2

»,24!i

5.55'2'

3,071

108,127

800

68,605:

103

32,420

12.699

29,551

925

638,

l''r.anolscO-

Seattle
'I'ai'oma

::::

"ioo

400

...J

6,387

5,387

999

9991

2b",646
1

I'lMulilna
1

23,890
7,143
2,710
2.400

rorlland. Ore.

Total.

89,309
131,233
7'22.734

111.831
9.900
276.937
18,081

4.474
281,574
113,679
110,255
33,345
638
20,646
23.890
7,143
2,710
2,400

1

86.917 24.103 43.794 154.874:i 119.887 591.100 1.813.080 4,524,007

Total
Total,

24.07S
520.961
37.227
4.400
145.991
1.200
225
133.789

129,424) 18,361

Portland, Me..

.

521 .5->S 1.617.307
95,206
55.937
229,06rt 850,775

59.007
6.225
9,000

125,721
7.881

1

Continent

30,8,S7

5,i>00
.

Boston
Kaitimoro

San

France.

Britain.

:M(il)ile

Pni.sacola

1

1904-05 45,077

2.275 94.557 141,909 2,023.916 590.485 2,392.404 5,606,805

In addition to above exports, our telegrams to-night also
us the following amounts of cotton on .shipboard, not
We add siniil;ir (Icures for
cl<-ared, at the ports named.
giv(!

New

York.

.

-

.

.

.

On
at—

Shipboard, Not Cleared for

Great

Other

Oer-

Leaving

:

Total.

1^0
rjS r^Ti^ qsbs gwr'^w^
*
c f=
o *>
c t»
c " -"^c

ow=

stock

IS, 001

Galve-ston ..

30.821
5.351

Savannah...
Cliarleston

7.423
24.303
2,180

1,271

35,4SS
17.907

1,128
S-.'iSO

2',

266

2.660
4.000

Total 190G
Total 1905
Total 1904

59.433
37,971
28,703

.

67,2,56
28,1.38

500

1.500

13,5511
5.8OOI

500

6.700

30,093
23,067
191,818
34,245

19,765 174.330
17,512 146.342
2O.221I 12.141 108.687

718,105
535,842
570.638

300
1,571

.38,166

.55,3951

17.30f>

48,237
31,581

25,316

16.041

7,931

2.800

13.551

New York

Other ports.

247.263
95,325

400
500
600

.

Mobile
Norfolk

60,371
76,077

1

1

1

c. 1.30 on Strict low mid..c. 0.14 off Middling tinged. c.
Strict mid. fair... 1.13 on Fully low mid
0.2G off Strict low mid .ting

Fair

Middling fair
Barely mid. talr..
Strlct good mid
Fully good mid
Good middling
Barely good mid..
Strict middling..
Middling

Low

middling
Barely low mid
Strict good ord
Fully good ord
Good ordinary

0.9G on
0.79 on
0.62 on
0.53 on
0.44 on
0.33 on
0.22 on
Basis

Low

o£f
mid. tinged..
off strict g'd ord. ting
off Fully mid. stained
off Middling stained..
1 .00 oft Barely mid .stained

0.38
0.55
0.72
0.86

m. stain
m. stained

strict g'd. tinged. 0.30 OD Strict low

Good mid. tinged,
strict

Even Fully

mid. tinged 0.06

On

off

this basis the official prices for a
the past week would be as follows:

UPLANDS.

Men.

Sat.

Good Ordinary

Low

Middling.
Middling
Good Middling
Middling Fair

I

Low

1.

mid. stained.

oft
oft
off
oft
off
oft
off
off
off
off

few of the grades for

Tues.

Wed.

Thurs.

10.25
10.87
11.25
11.69
12.21

10.10
10.72
11.10
11.54
12.06

10.00
10.62
11.00
11.44
11.96

9.80
10.42
10.80
11.24
11.96

10.50
11.12
11.50
11.94
12.46

10.35
10.97
11.35
11.79
12.31

10.25
10.87
11.25
11.69
12.21

10.05
10.67
11.05
11.49
12.012

9.75
10.75
10.91
11.25

9.60
10.60
10.76
11.10

9.50
10.50
10.66
11.00

9.30
10.30
10.46
10.80

Fri.

9.80
10.42
10.80
11.24
11.96

H

GULF.
Good Ordinary

Low Middling
Middling
Good Middling
Middling Fair
STAINED.
Low Middling
Middling

Low

Mid. Tinged
Good Middling Tinged.

Strict

.12
.34
.50
.84
.42
.50
.78
1 .06
1 .28
1 .50

The quotations

O
L

10.05
10.67
11.05
11.49
12.01

1

D
A
Y

9,30
10.30
10.46
10.80

middling upland at New York on
Feb. 23 for each of the past 32 years have been as follows:
1906 C.10.80
1905. .. 7.90
1904. .14.80
1903. .10.05
1902. . 8 13-16
1901. - 0%
1900. . 9 1-16
1899. . 6 9-16

for

1898.0. 6H
1897.
TVs
1896.
rvs
1895..
1894..
7H
1893..
1892..
TVs
1891,.
9

1882.0.11^

1890.0.11 5-16
1889-..10i^
1888. ..10 9-16
1887. .. 9 9-16
1886.
1885.
1884.
1883.

MARKET AND

.-

S%

..11 5-16
..10 13-16
-.10 3-16

1881. ..11 9-16
1880. ..13)^
1879... 9%
1878.. .10 15-16
1877. ..12H
1876.. .123^
1875. .-16

SALES.

The total sales of cotton on the spot each day during the
week are indicated in the following statement. For the
convenience of the reader we also add columns which show
at a glance how the market for spots and futures closed on
same days.
Futures

Spot Market

Market

Closed.

Closed.

Sales of Spot

ConExport sum'n.

Saturday.

Monday
Tuesday

Quiet

C^uiet 15 pts. dec.
.. (iuiet 10 pts. dec.

Wednesday Quiet 20
Thursday

.

Friday. 1.. Quiet

m
•

Total

. .

pts. dec.

Barely steady
Barely steady
Quiet

and Contract.
Contract.

Total.

400

400

""26

"26

Weak

1.589

Steady

50

100

150

2,005

mn

2 165

HO LI DAY.

1.589

1

II
I

1

1

rijsS.cxI

c c'E^

<n

o

00

CO — — oc oc O

Mlb.

'(/-

000

ti

'c'c

Jo

(re

'

©
o»

©

1

i

I

i

©

I

80 Oo

.-I

©

I

©

1®

1©

^1—

1©

1®

1®

1®

oc 00 CO 00 CO CO
M4- MM MM
VXD
010
X-l §1
*-X
CO _oo 00 00 So pp p\

I

cp
="

CO 5

tc <c

CO oc
M.».
oc IDS
21 XS5
to*.
feS t\
(CM — -J MX g?£ SI
00 00 00 00 00 00 51 00 51
MM MM
MM
00 00
tngo
00
M4> M*.
4^M
1®

-:

'2

'i

r.

-I -I

®

_

«

n

York:

Gw= '"-s^ Qk*^
'^a*
p

m
I

New

cS'^cP^c'' CO
_

® I® I® I©
00
00
1

t»

closing prices at

«

MIX

1®
Speculation in cotton for future delivery has been as a rule
quiet and the general direction of prices downward, mainly
owing to large receipts at the ports and the interior towns.
This movement has been on a scale much larger than the
trade had been led to expect, and the effect on the markets
has been very apparent.
At the lower level of quotations,
however, both foreign and domestic spinners have been buying on a somewhat larger scale. Continental mills to all appearances being especially good buyers. Another large line
of spot cotton has been sold at New Orleans, the spot business at Liverpool lias continued on a liberal scale, the reports from Manchester have been in the main favorable, and
there has been very heavy liquidation of speculative long
holdings at both New York and New Orleans.
Houses identified with the trade in the actual cotton have latterly been
good buyers of March. There has been a great deal of
switching from March to May and also from May to July at
Many have been disposed to
steadily widening differences.
hold aloof awaiting the effect of March notices to be issued
at New Orleans on February 23 and here on February 2G.
To-day there was more disposition to buy, mainly because
of an impression that the liquidation of March contracts has
been practically finished. Moreover, the number of March
notices issued at New Orleans was very small.
Prices advanced 7 to 8 points for the day. Cotton on the spot here
has been quiet at declining prices, closing at 10. 80c. for
middling uplands.
The rates on and off middling, as established Nov. 18 1903
and reaffirmed Nov. 15 1905 by the Revision Committee,
at which grades other than middling may be delivered on
contract, are as follows:

-,'

'i

'i

Orleans

\YOL. LXXXU.

FUTURES. — High, low and

—

CoastForeign wise.

many.

France

'Briiairx

New

«

THE CHRONICLE.

462
Feb. 33

.

'

1©

©

e

00
•OS".

s

00

©

1©

l<

£.

00

00

00

I

I

^

§1
9I

s

00
•»i^

© I® I® I® I® I® I© I© I© I©
00 o 00 00 CO CO
MM
Ml
icM Mlb
"CnO>
;D— !0>oc CO CO 00 00 CO oc CO

.0&

CSS

I

-IC".

COT

® I© I® I© I®
® I© I® I© I®
00 o 00 00 00 00 00 00 00 00 00
N>M

'— io

to
to

Oi*.

-.00

00 CO 00 5o 55 55
10
to en

MIO
MOO

>b.M

to^

1®

1®

i©

1®

1©

1©

00
to
OJ

to to
00 00

-

CnCn

to 10

to 10

15

1

1

15

51

55 55 00 55
en*.

tiO

1®

— MtO
M
10-4
1® T®

1®

!©

00 CO CO CO
^-4
to to
02
MM MM ac5
MM

51

00 00 CO CO
CO 0; — MM
MM MMXto

15

15

15

15

15

©

i®
—
b

o

to

® I®

1

5

loS
M«S

iTIL.1

15

15

15

©
1

to

THE VISIBLE SUPPLY OF COTTON

to-night, as made
Foreign stocks, as
as follows.
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.

up by cable and telegraph,

is

,

February 23—
Stock at Liverpool
Stock at London .Stock at Manchester

1906.
bales .1,1 76, 000

at
at
at

701 ,000
7,000

241,000
4,000
12,000
86,000
3,000

964.000
12.000
367,000
2,000
167,000
3,000
50,000
40,000
3,000

406,000
4,000
223.000
3,000
55,000
29,000
2,000

679.000
8.000
286.000
3.000
182,000
3,000
35,000
53,000
2,000

748,000

644,000

729,000

572,000

388,000

at Marseilles
at Barcelona
at Genoa
at Trieste

Total CoDtinental stocks.

1903.

672,000
7.000

9,000
60,000

Bremen
Antwerp
Havre

1904.

618,000
11.000
72,000

Total Great Britain stock ...1,245, 000
at Hamburg
14,000

Stock
Stock
Stock
Stock
Stock
Stock
Stock
Stock

1905.

902,000
13,000
49,000

Total European stocks
1 ,993 ,000 1,608,000
96,000
India cotton afloat for Europe. 173,000
Amer. cotton afloat for Europe. 340,000
383,000
67,000
56,000
Egypt, Brazil, &o., aflt.for E'pe
190,000
Stock in Alexandria, Egypt... 191,000
955.000
553,000
Stock in Bombay, India
682,184
892,435
Stock in U. S. ports
616.277
Stock in U S. interior towns... 658,131
21,232
29.971
U.S. exports to-day

1

,430,000 1,251,000

257,000
341 ,000
37,000
253,000
393 ,000
679,325
369,142
8.518

133.000
559,000
41,000
177,000
655,000
892.109
336,013
6,440

Total visible supply
5,290,798 4,214.432 3,767.985 3,950,562
Of the above, totals of American and other descript ions are as follows:

American

—

Liverpool stock...
Manchester stock
Continental stock

bales. 1,050,000

American afloat for Europe
U. S. port stock
U. S. interior stocks

U.S. exports to-day

60,000
703 ,000
340,000
892,435
658,131
21,232

345,000
43,000
605 ,000
383,000
682,184
616,277
29,971

534,000
61,000
696,000
341 .000
679.325
369,142
8,518

599,000
539';666

559,000
892,109
336,013
6,440

Total American
3,714,798 3.204,432 2.688.985 2,931.562
East Indian, Brazil, d-c.
Liverpool stock
126.000
57,000
84,000
73.000
1 1 ,000
London stock.
9,000
13,000
7.000
Manchester stock
1 1 ,000
10,000
6,000
3"3'.666
Continental stock
45,000
33,000
39,000
257,000
133.000
India afloat for Europe
173,000
96.000
37,000
41.000
Egypt, Brazil, &c., afloat
67,000
56,000
253,000
177.000
Stock in Alexandria, Egypt... 191,000
190,000
955,000
393,000
556,000
Stock in Bombay, India
553 ,000

—

Total East India, &c
Total American...

1,576,000 1,010,000 1,079,000 1,019,000
3,714,798 3,204,432 2,688,98;. 17.931,562

Total visible supply
5,290,798 4,214,432 3,767,985
7.ff2d.
Middling Upland, Liverpool
5.73d.
.4.17d.
14.75c.
Middling Upland, New York..
lO.SOc.
7.75c.
7?^d.
SHd.
EgyiU, Good Brown, Liverpool
9Md.
9.r5d
8.75d.
10.30d.
Peruv. Rough Good, Liverpool
7d.
&%d. 4 3-16d.
Broach, Fine, Liverpool
Tinnevclly Good Liverpool . .
5 7-16d.
4Kd. 6 13-16d.
,

,

;

,950.562
5.40d.
10.25c.

8Hd.
7.60d.
5d.
5d.

Continental imports past week have been 134,000 bales.
The above figures for 1906 show a decrease from last week
of 54,842 bales, a gain of 1,076.366 bales over 1905 and
an excess of 1,522,813 bales over 1904.

THE CHRONICLE.

Feb. 24 1006

AT THE INTERIOR TOWNS the movement— that is, the
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 details below.

week and

receipts for the

—

.-St-^o^o

P

en (U

o'^i"

SO

O Og--^

2

3^f?§3|SB

'ai"<;

r^

5=?i

=-

3iji;

:

552— CfD

«<.

o..—

p.-

O
O

^-

-

QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS. — Below are the closing quotations of middhng
cotton at Southern and other principal cotton markets for
each day of the week:
Closing notations for Middling Cotton on

Era

OOP
COS

Feb. 23.

B 3.P
O a

Galveston
New Orleans
Mobile

re

.

Charleston

O s"o

(D

CO

.(t)

-^

mS.B

o
t3"

n"

:3

:p

:

ffi.Po

P

ft>

•o

pa

I

t^

,

,

I

a,

I

I

p

3

p

1

1

I

I

a

frS)

OOiOCn — CntOMCO00»-»C0*^Cn<ii-i oooCntJ^OCOKJOCT^^CnCOgaOOMCnCa
CO

CO

K01
^
h- O

•M

Oi^H--^^

^-'

N3 Oi 05 )^ Cn

C;i

CO CO CO

Co Oi

CT> t-*

W M to

rf^

Or to Or to

ao|

to

OOOCOC^<^

rfs.

I

W

w bo to 1— I— to to

Boston
Baltimore

11.25

11.25

COCOOOCnCOO)

Memphis

lOJ^
10 15-16
lOJ^

Rock

I-'

l-*

!-•

Range
Closing

—
Closing
May—

l-»

i-"

tt'

—

March
Range

MCO
Oil-'
CO
00
M
to
O 00 CO to to <I Ci GO CO CO CO Oi en CD o >u 10 00 O O) CO lO
co*.oo»q-j^oii— OiOOOif^oitooo-joioo-^cooT-aoiOooco^Oco-^it^oorfk
l-'l-'H.iH-i

10^

L

11.00

I

10.80

11

11

11.25

11.05

A

11.05
lOJi
10 11-16

D

Y

C;i

Range

OOOO roit^CC -^^C/^CnC^O>COOCnO OOCn rf^OaOiCDtOi-'~40>tOOOOC;i~40CO>-'0>

Closing

Range
Closing
October

—
Range
Closing
Tone —

OOeDOCCOC;>tO-Oit»tOCOi-'i-'«qWi^CTif-CO>I^Oi(^tOO>C005t005COtOH-OC;iOO
CDOOC500 0;AOOOOiOOOOOi-'^-'t00030200<IOC0000500eDcOCDOOO-40
ro*-oc?i0^^it^cocococooooi»-'Oocouito*.coH-to>-'i-'Ooooc;iOoitotn»-i
01

00

i-"

H."

to

M

h-i t-i H-" H-i

cn

O

i-'i-'

t-"

*>•

V

lOtO

- H- 00 to CO fO"*. Oico'h-' OOOOl 00 i-'O 00 00 en O
CO CD to en
3t0Cs~J^aii;^i-'Cn05Cn^<IOO^O-aCO00»Jh-K-Oi-'OCn00Cnt-'Cni-'O
i4i.

10%

10^

lOM

10 9-16
10 3-16

10 9-16

10^

11

Montgomery -A0%

10^

NashviUe

Natchez

lOJ^
lOJi
Slireveport ...10 7-16

Raleigh

Monday, Tuesday, Wed'day, Thursd'y, Friday,
Feb. 19.

Feb. 20.

Feb. 21.

Feb. 22.

— @ ——
@ — 10.30 —
10.63 — 10.43 — 10.40 — 10.30 —
10.76-.82 10.57- .72 10.47-.57 10.31-.51
10.76-.77 10.58-.59 10.53-.54 10.33-.34

H
L

10.95- .01 10. 78- .91 10.68-.81 10.57-. 76
10.95-.96 10.79-.80 10. 77-. 78 10. 57-. 58

I

D
A
Y

t^~

i00^a>4^CnCOi-'Oif>-05*40!^J^*>'CDCn-<l^i^cocn^->-'^-^^coCntnCnCn

.

»

(q;

to

Spot
Options

11. 07-. 13 10.92-.04 10.84-.97 10.75-.94
11. 07- .08 10.93- .94 10.93- .94 10.75-.76

10.30- .35 10. 22-. 29 to. 20-. 27 10. 12-. 25
10.29-.31 10.24-.25 10.24-.25 10. 13-. 14

Easv.
Steady.

Quiet.
Steady.

Steady.
Easy.
Steady. B'lyst'y.

Feb. 23.
10.44
10.45

•

(S),

July—

-'I-'
)Cn
•"^ C^'x CO

\0%

\0%

Louisville

Sat' day.
Feb. 17.

0>O>^OC0q>CJlOCnCO-^O0>cOtoC000i-'tJO00--lC0i-'

l-"

..

10^

l6Tl-16 10 11-16

lOH
\0%

Im

VoVs
11.10

lOM

lOJ^
10 1.3-16
10 15-16

103^

MO(OCOCOCn^O*-03)0»0>C350C00005COOtOCnaj(-'

O14i^tk(J0CO^t.00t0^3505Ola^tO^^0Ol^^-'COl-'4^t0O^•-'C0tO000iC0^^Ol
OCCC'OOCO-J — ^ailOtoy:'C-TH^O<OCOOiOOC;i>— C. COi;a.OiCJiO'3C4iCotOCO
ocnO-sCO^-ox353iiocotDi*'a>^ococoi-'0>— i-'to>;^i-'0ai0oo50^co

i(k

11.50

H

i6>^

UH
11.35

nVs
.

11

February

0> 00 CO

loy,

Augusta

*>-'
1-'
F-'i-'OCOH-

to

I-"

0^'-'COCnboo'^-'Co".^tO'-

CCi
COi
•—<

'

J^i

10^
lOM

highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:

l-'C0t0h0O'--'-'C00iC»Oai>-'C0Cni-'OCD05i-^C;iOO0iZ)t0COOOCC0i*-^
to*-

lOH
10>^
IOV2

10 13-16
10 9-16
ioy2
10 7-16

NEW ORLEANS OPTION MARKET.— The

C;ito~jcooc-. McOi-'l-ococo»-'^coco^K-'CncoOMC32-j»jococoo>t»cocofO

OCit*.-.OCOtni

10^
lOH
}0%
11

Atlanta

OiT^cotox;oc;i*.'^oo>ooiN)^^coi-'tocno>Oi^-a^3>cooo5)>i-'to
00 -- Oiroi-'loOoVli.oVl tOCOCnCXli^ CC^--)C0<1 002 co"coloM »

Co'ht^t^bi

10^
lOK

Columbus, Ga.1014
Columbus, Miss 10

l-"

I--

10 9-16

The closing quotations to-day (Friday) at other important
Southern markets were as follows:

COOlCOi-'

woi^iooi~]Oif^i-'0~jc»i-'i-iH-ocoi*kOoa!Ostooi(»ooo

_

lOM

10 9-16

11

Little

_

lOM

10 9-16

Norfolk

St. Louis

Oi^^COi-'WCncOO5OJ00^tii^MN5^00

Monday. Tuesday. Wed'day. Thursd'y. Friday.

lOH

Wilmington.

Houston

to

Sat'day.

lOJ^
10 11-16

10>^
103^

Philadelphia

M
0,0,,

<5 'S

—

Week ending

Savannah
.m

463

,

—
—

10.28- .47
10.45-.46

10.52-.66
10.65- .66
10.69- .84
10.83- .84
10. 10-. 18
10. 17-. 19

Firm.
Steady.

« Ss'S

oocn^cooiocD*^ioto>-'0
;to^tocococn^o>-'Ooo3cocn-aooa5»jcoc:»05toiOH-co^cocootoooocD

P'OO
en
r^

3tOH-^cO(0-.oooco)t>.o^to>--'i^.ooajtococn

to^r

.

OOCntooaoacocni-'~JCoooi-'i— ^cn-ji-'oaooocnMtotJOe:>cn^O *>• o>

The above totals show that the interior stocks have decreased during the week 16,459 bales, and are to-night 41,854
bales more than at the same period last year.
The receipts
at all the towns have been 9,385 bales more than the same
week last year.

OVERLAND MOVEMENT FOR THE WEEK AND

SINCE SEPT.

— 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:
1.

1905-06

February 23.
Shipped
Via St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via other routes, &c

—

1904-05
Since

Since

Week

Sept. 1.

Week.

Sept. 1.

17,924
4,908
1,769
3,083
996
..10,041

293,389
153,117
35,336
67,063
40,807
180,043

8,503
4,598
719

370,958
223,360

3,972

34,361
62,008
41,150
186,129

Total gross overland
38,721
Deduct shipments
Overland to N. Y., Boston, &c. 1,712
Between interior towns
276
Inland, &c., from South
911

769,755

19,678

917,966

108,151
12.039
25,875

1,138
103

115,261
10,352
32,603

2,899

146,065

2,143

158, 2ie

total net overland. a.. 35, 822

623,690

17,535

0759,75

—

Total to be deducted

Leaving

a Including movement by

rail to

1,561

325

902

Canada.

The foregoing shows the week's net overland movement
has been 35,822 bales, against 17,535 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 136,060 bales.

WEATHER REPORTS BY TELEGRAPH.— Our

tele-

graphic advices from the South this evening indicate that
the weather has been more favorable during the week.
There has been rain in most districts, but as a rule the
precipitation has been light or moderate and the temperaPreparations of land for
ture has been higher generally.
much better
the next crop
consequently have made
progress

as a rule.

—

Galveston, Texas.
There has been rain on two days during the week, the rainfall being forty hundredths of an
inch.
The thermometer has ranged from 42 to 64, averaging 53.
Palestine, Texas.
have had light rain on two days of
the week, the precipitation being five hundredths of an
inch.
Average thermometer 55, highest 74, lowest 36.
Abilene, Texas.
There has been no rain the past week.
The thermometer has ranged from 34 to 80, averaging 57.
Fort Worth, Texas.
There has been rain on one day of
the week, the precipitation being forty hundredths of an
inch.
The thermometer has ranged from 36 to 76, averaging
56.
Corpus Christi, Texas. There has been rain on one day
during the week, the rainfall reaching seventy hundredths
of an inch.
The thermometer has ranged from 50 to 74,
averaging 62.
San Antonio, Texas. Rain has fallen on two days of the
week, to the extent of thirty-six hundredths of an inch.
Average thermometer 57, liighest 76, lowest 38.
Taylor, Texas.
There has been a trace of rain on one
day the past week. The thermometer has averaged 54,
the highest being 72 and the lowest 36.
New Orleans, Louisiana. There has been rain on two
days the past week the rainfall being .seventy-six hundredths
of an inch.
The thermometer has averaged 56.
Shreveport, Louisiana.
have had rain on one day
the past week, the rainfall being three hundredths of an
inch.
The thermometer has ranged from 34 to 71, averaging 54.
Leland, Mi.'^sis.Hppi,
have had rain during the week,
the rainfall being eighty hundredths of an inch.
The
thermometer has averaged 46.4, the highest being 73 and

— We

—

—

—

—

—

—

,

In Sight and Spinners'
Since
Takings.
Week.
Sept. 1.
Receipts at ports to Feb. 23
136,015 6,131,301
Net overland to Feb. 23..
35,822
623,690
Southern consumption to Feb. 23. 45,000 1,132,000

100,960 6,896,497

Total marketed..
Interior stocks in excess

162,485 8,708,247
al4,313
554,617

216,837 7,886,991
al6,459
522,954

Came

into .'.ight during week... 200, 378
Totalin.slght Feb. 23
8,409,945

North,

spin'.s'

takings to Feb. 23. 48,685 1,630, .363

Since

Week.
17, ,535

Sept.

1.

7.59,750

44,000 1,052,000

148,182
..

9,262,864

17,752 1,451,746

o Decrease during week

Movement
Week—
1904— Feb. 26.
1903— Feb. 27
1902— Feb. 28
1901— Mar. 1

into sight in previous years:
Bales.

I

Since Sept.

1

.120,08311903-04- Feb. 26...
159,061 1902-03— Feb. 27
198,348 1901-02— Fob. 28
160,177 1900-01— Mar.
1

Bales.
8,577,

8,747,317
8,624,385
8,241,923

— We

— We

the lowest 16.
Vickshurg, Mis.sis.<iippi.
It has rained on one day during
the week, the rainfall being nineteen hundredths of an inch.
The thermometer has a\-eraged 52, ranging from 38 to 71.
Helena, /IrA-an.s-a.s.— With splendid weather, farm work is
booming. Rain has fallen on one day during the week, the
rainfall reaching nineteen hundredths of an inch. The therntometer has ranged from 30 to 70, averaging 51
Memphis, Tennessee. Preparations for the next crop are

—

—

———

—

.

.

.

THE CHRONICLE.

464

under way. Rain has fallen on lliree days of the
week, to the extent of tliirty luui<h-e(lths of an ineh. The
thernionu'ter has averaged 49.6, llie liigliest being GO. 4 and

getting

the lowest 22.8.
Th(>ie has been rain on one day durXanhville, Tennessee.
ing the week, the rainfall reaehing twenty-two hundredths
of an inch. The thermometer has averaged 42, ranging from

—

20 to g;}.
Mobile, Alabama.

M

WORLD'S SLPPLV AND TAKINGS OF COTPON.—
Th(! following brief but comprehensive Htat(;rnent indicates
at a glance; the world's supply of cotton for the we<;k and
.since Sept. 1, for the last tw(» seasons, from all sources from
which statistics are obtainable; also the takings, or annount
gone out of sight, for the like periods.

— Farm-work

has made moderate proWe have had rain on \\\'o days dming the week,
gress.
The
the rainfall being one ineh and twenty hundredths.
therinom(>ter has ranged from 43 to 69, averaging 54.
Warmer and dry since; WednesonUjotnery Alabama.
Rain has fallen on one day of the week, the rainfall
day.
Average therreaehing one ineh and sixteen hundredths.
mometer .53, highest 71, lowest 32.
Madison, Florida. Ther(> has been rain on one day the
past week, the rainfall reaching seventj'-five hundredths of
an inch. The thermometer has averaged 50, ranging from
35 to 65.
Savannah, Georgia. We have had rain on one day during
the week to the extent of twenty-one hundredths of an ineh.
The thermometer has ranged from 36 to 70, averaging 54.
A^igusta, Georgia.
We have had rain on one day of the
week, the rainfall being nineteen hundredths of an inch.
Average thermometer, 51, highest 71, lowest 31.
There has been rain on one
Charleston, South Carolina.
day during the week, the rainfall reaching three hundredths
The thermometer has averaged 50, ranging
of an inch.
from 34 to G5.
Greenwood, South Carolina. It has rained during the
week to the extent of eighty-six hundredths of an inch on
two days. The thermometer has ranged from 33 to 58,
averaging 45.
Farm-work has progressed
Staleburg, South Carolina.
actively, the weather conditions having been quite favorThere has been rain on one day of the past week,
able.
the rainfall being twenty-seven hundredths of an inch.
Average thermometer 50, highest 73, lowest 27.
We have had rain during the
Charlotte, North Carolina.
week to the extent of one inch and five hundredths. The
thermometer has averaged 46, the highest being 64 and
the lowest 24.
The following statement we have also received by telegraph, showing the height of the rivers at the points named,
at 8 a. m. of the dates given:

—

,

—

—

—

—

Vol. lxkxii.

1905-06.

Cotton Takings
Week and Season.
Visible supfily
Visible su|)ply

Feb 16
.S(-i)t

—

Feb. 24 1905.

Feb. 23 1906.

Feet.
7.0

Feet.

New

Above zero
Above zero
Above zero
Above zero
Above zero

Orleans

Memphis
Nasliville

Shreveport
Vicksburg

of
of
of
of
of

gauge.
gauge.
gauge.
gauge.
gauge.

11.5
8.8
9.0
13.4
22.1

11.4
19.5

i

Total supply

Deduct—
5.290,798

Visible supjily Feb. 23

Total takings to Feb. 23
Of wiiicli -Vmerican..
Of wliich other

a Embraces receipts in Europe from Brazil. Smyrna, West Indies, &c.

MANCHESTER MARKET.—

Our report received by
cable to-night from Manchester states that the market
The demand
continues firm for both yarns and shirtings.
give the prices
for both India and China is good.
for to-day below and leave those for previous weeks of

We

this

and

last

year for comparison:
1905.

1906.
S}4
32* Cop.
Twist.

in^s,

common

to fiTtest.

Jan. d.

d.'s. d.

s.

5

19

26
Feb.

SH

2
9
16

85^

5

9^
9%
9%

23

6
6

5
5

6
6

5

d.

Mid

32s Cop.

Upl's

Twist.

'

4M.

^9
J9

4^

m,

9

SH

Corn

lbs. Shirl-

@99 iH\
@9 4H
@9 4H

Cofn
Mid

Sfiirt-

common

^Upfs

to llnest.

d.
d.
6.30 7
C
6.1716 15-16$

d.s. d.
8
5 7
7}i'5 6

5.99 6 15-16«
6
5.877

7>^ 5
8
5
8
5
8H 5

.'>.91i7^

5.73

lbs

ings,

7K

A.

a.

®8
&8
6 @8
6
@«
7
®8
7H@8

d.
3.81

3.6»
5
5

3.97

5

4.23
4.17

6

4.09^

MILL DIVIDENDS.— Thirty-two of the
FALL
thirty-four cotton-manufacturing corporations in Fall River
have declared dividends during the first quarter of the year,
and the total amount paid out is $367,400 greater than for
The aggregate of the
the corresponding period of 1905.
amount distributed has been $436,400, or an average of
1.94% on the capital. In 1905 but seven mills made disIn 1904
tribution, and the average rate was only 0.32%.
the average rate was 1.21%; in 1903 it was 1.44%; in 1902

RIVER

in 1899

1903-04.

1904-05.

1

.

in .sight to Feb. 23.
Hoiiibav receipts to Feb. 22..
Otiier India sliip'ts to Fel). 22
.Alexandria receipts to Feb. 21
Other supply to Feb. 21

was 1.41%; in 1901 it was 1.73%; in 1900 it was 1.81%;
it was 0.88%; in 1898 it was 0.26%; in 1897 it was
1.01%, and in 1896 it reached 1.99%. It will therefore be
seen that the current 3'ear's rate of dividend payments is
greater than in the first quarter of any year since 1896.

7.3

18.2

INDIA COTTON MOVEMENT FROM ALL PORTS.
1905-06.

Season.

5, .345, 640

American

—

—

1904-06.

Week.

February. 22.
Receipts at

Since

Since

—

Week.

Bombay

Week.

Sept. 1.

Sept. 1.

93,000 1,537,000 104,000 1,156,000

Since

Week.

Sept.

ntvid'ds

1.

First Quarter
1906 and 1905.

Capital.

1906. OiPid'<to

or

P. C. Amount. P. C. Amount. Dec.l—y

71 ,000 1,045,000
S

Americatt Linen Co

800.000

Ancona

For
Great
Britain.

the

Since September

Week.

Continent.

Total.

Great
Britain.

Continent.

Mills
Arkwrisht Mills

1

Total.

•

300.000:

<

1

450.000
350,000
495,000
000.000

il

,000,000

1

Barnaby Mfg. Co
Barnard MfK. Co
Border City M£g Co
Bourne Mills
Chace .Mills

-

900.000
300.000
400,000

Conanicut Mills

Bombay
190.5-06

1904-05
1903-04
Calcutta
1905-06
1904-05
1903-04

.

16",600

28,000
9,000
18,000

403,000
115,000
360,000

431,000
124,000
378,000

5,000
1,000
1,000

5,000
1,000
2,000

41,000
11,000
8,000

46,000
12,000
10,000

17,000

17,000

i6',66o

5,000
1,000

.
^

.
.

1,000

.

Cornell Mills..

.

400.000
.-.

.

1905-06
1904-05
1903-04

1,000
1,000

.
.
.

SOO.OOO

;

1,000
2,000
8,000

25,000
12,000
24,000

26,000
14,000
32,000

Narrairanset t Mills

,

Osborn
Parker

.

i',666

9,000
6,000
4,000

55,000
46,000
41,000

64,000

Richard Borden MJg.Co
Sananiore Mts;. Co

5,000
1,000

1,000
6,000
1,000

.52,000

Seaconiict Mills

Shove

24,000
6,000
1.0001 18,000

1,000
1.000

ALEXANDRIA

25,000
7,000
19,000

43,000
18,000
32,000

RECEIPTS AND
COTTON.

Alexandria, Kgypt,
February 21.

524,000
184,000
433,000

567,000
202,000
465,000

SHIPMENTS OF

.

-»-4.500

I

'

-1-4.950
-1-15.000

15,000
10,000
13,500
3,000
6,000
7,500
6.000
8.700

4-10,000

-H3,500

Nod

15.000;
ividend

15.000'

1
1

.S.OOO

1

I'i

VA
3
14

Nod
1

+ 8,700
+ 15,000

I

6,000
7,500

1

+ 7,500

ividend

-1-6.000

\H

Nod

-1-3,000
-t-2.000

4,000;

1

15.000
ividend

Nod

+ 6.000
+ 7.60O
+ 8.000
+ 6.000
+ 7,500

6,000
7,500,

Ividend
9.000
12.000
45.000
ividend
5.500
10,000
S,750
7,500
9.000
168,000
ividend

IM
1

9.000

'

s.oooi
9.000,

I

1

Nod

ividend

1

;

1

6.000;
1S.OOO;

Nod

5,500,

430,400, 0.32

+4.000
+36.000

+ 5,500
+10,000
+8.750

+ 7.500
-3.000
+ 150,000

ividend
1

I

••

I

+5,500

69,000+367,400

CROP.— Through the courtesy of
EGYPTIAN
Messrs. Choremi, Benachi «fe Co.. of Boston and Alexandria,
Egypt, we have received a copy of their report dated Alexandria, February 13, which is in part as follows:
The opinion that the crop is going to be smaller than expected is gaining grountl, and the association will issue an estimate of 6K' millions
maximum against their former estimate of 6H Judging from our interior reports, receipts will begin to fall off in two or three weeks, as there
The real damage tliis year is cliiefly due
is little left in iilanters' hands.
The Agricultural Society, who have been stud.ving the
to boll worm.

COTTON

1905-06.

1904-05.

1903-04.

190,000
5,190,317

100,000
4,656,308

160,000
5,853,868

Receipts (cantars o)
1

Total

-1-12.000

ividend

4,500;

ividend

i'<>

Nod

1.94

|

Tccumseh Mills
Troy Cot. & W. Mfg. Co
Union Cot. Mfe. Co
Mills
Mills

151

22525000

i

Mills
Mills

Weetamoe

1

IH
1
No d
VA
Vi

j

Stafford

Wampanoae

\H
1
VA

400.000
750,000
SOO.OOO
600,000
SOO.OOO
900,000
600.000
550.000
11 .000,000
700.000
-500,000
300,000
.,1 ,200,000
750,000
550.000
|

Mills
Mills _
Poca.ssct Mtc. t^o

Stevens Mfc. Co

Total all—
1905-06 .
1904-05 .
1903-04 .

This week .
Since Sept.

,

7.50.000
•SOO.OOO

8

No d

12,000;

ividend
4,950'

1

300,000

2,000

45,000

,000,000

,1 ,000.000

i",66o

All others

1

.^'^O.OOO
1

2,000

.

IM

Nod
Nod

500.000,

Davis Mills
Davol Mills
Flint Mills
Granite Mills
H.arsravcs Mills
Kinff Philip Mills
Laurel I^ake Mills
Mechanics' Mills
Merchants' Mfc. Co

Madras
1905-06
1904-05
1903-04

1905- /nc.(-t-)

I

.

Since
This
week. Sept. 1

This
Since
week. Sept. 1.

This
Since
week. Sept. 1.

4,500 148,617
4,250 93,600
9,000 191,562
1,000 44,482

4,000 100,043
100,077
5,250 2 15, .589
1 .250
37,852

question thoroughly, soon expect to publish the results of their investigation.

Exports (hales)—
To Liverpool

To Manchester
To Continent
To America

6,500 1.59,77.'i
7,500 122,370
7,2.50 202,290
3,500 54,0.55

_

_ .

24,750 539,088 18,750 478,261 10,500 519,561

Total exports
a

A

cantar

is

98

lbs.

Under date of Boston, February 19, the firm further states:
Our cable ailvices received since the above inform us of a continued
demand from English and Continental spinners, and that good selections
Our Alexandria house, who liave clung to
are rapidlv liecoming scarce.
their estii'nate of 6'--2 million cantars for this crop, have felt obliged to
reduce it to 6}i. Judging from the feeUng that the out-turn of the crop
will be much smaller than expected, and tlie continued demand, we.ex_•
pect present prices to hold for some time to come.

Feb. 24 IDOG

EXPORTS OF COTTON GOODS FROM GRE-\T BRIT-

DOMESTIC EXPORTS OF COTTON MANUFACTURES.

—We

give below a statement showing the exports of domestic
cotton manufactures for December and for the twelve
months ended December 31 1905, and, for purposes of com-

parison

,

like figures for the

corresponding periods of

vious year are also presented:
Quantities of Matmfaclures oj
Cotton (cnUned and uncolored)

Exported

to

—

Month ending Dec.

yards

Honduras
--

--

Other West
Argentina

--Indies and

Bermuda.

Brazil
Chile

Coombia

.^

Venezuela
Other South America
ChineseRmplre
British East Indies

Hongkong
Japan
British Australasia
Philippine Islands

Other A sia and Oceania
British Africa
All other Africa

Total yards or above.
values of above.
Value per yard

To till

—

31,547
171.691
659,561

277,127
1,971,436
9,835,438

Y08',240

1,473,030
8,810,310

2,168,959 28,217, 004
3,512, 894
242,714
1,077,791 24,247, 573
2,785,209 30,719, 800
3,719, 294
314,590
9,982, 738
1,079,346
2,328,874 14,726, 828
2,627,524 10,092, 071
7,284, 042
604,154
8,187, 197
716,035
40,598,280 562,732, 721
565.450 10,907, 297
455, 675
49,322
732,538 10,441, 564
7,861, 169
573.673
9,962, 531
2,510,096
957,061 24,154 ,197
7,105, 250
599,739
013 ,935
47,104

69,519,459
$4,193,781

61,912,468 790,259,024 434,989,680
$3,548,390'$47,052,434 $25,508,009
$.0588
$.0603
$.05731

24 368,148
935,504

North America

6,368!

159,834

1,145,730
214,204
39,532!

671,760
40,382
88,002
2,458,667

Central American States and Brit-

Honduras
Mexico
Cuba
Other West Indies and Bermuda.
ish

Argentina
Brazil
Chile

Colombia
Venezuela
Other South America
Chinese Empire
British East lindes

Hongkong
British Australasia

Philippine Islands

Other Asia and Oceania
British Africa
All other Africa.

Other countries

90,207
40,920
49,118
20,321
14,156
7,123
2,009
3,361
6.821
9,695
23,227
772
4,895
79,784
5,175
9,161
27,759

09,407
45,402
21,208
14.859
25,167
8,952
5,052

916
20

394
50

$855,819
$5,049,600

8,761
2,277
9,805
8,791

202
9,446
70,159
10,185
.30,337

18,438

690,587
023,930
433,032
245,959
321.745
65,323
21,371
47,045
28,941
58,161
334,899
9,130
109,594
515,492
89,647
258,622
276,035
14,851
5,919

cotton, but no one posted on the subject expects

555,1811

Lbs.
Lbs.
Lbs.
Yds.
Lbs.
486,579 95,131 90,767'117.282;107,525
474.192 98,940! 88,456, 118,7451106,394
560,718 103,6131 104,597! 124.4721 123.758
1

.

j

---

articles

I

-|

291

289
4,jsb

13.608

503,300 457.931

Total exports of cotton manufactures

387,169
;016,999

720,073
377,306
671,197
,861,578

346,235
842,365
429,222
212,366
625,325
034,830
658,433

1,207,769
93,207
11,072
817,259
35,753
89,819
2,396,966

621,597
534,826
.355,893

239,724
222,089
94,813
21,482
108,737
35,704
49,173
81,973
1 1

,362

60,693
495,613
73,270
215,971
154,667
9,560
3,616

.$8,808,566

Twenty

any such

result for

many

years to come.
have corresponded with the Secretary

me

of the Colonial Cotton Assoa long letter on this subject, in which

he says:
impossible to give any satisfactory
we have appUed ourselves to
the cultivation of cotton could be carried
varieties to be planted in each district. Our

statistics at present because,

the study of the land where
on with best results and the
efforts have not been directed
to (juantity so much as to quality. Our policy has tlnis been opposed
to that of the Rritish Cotton Growing .Vssociation, which endeavored to
export as large a ([uantity as possible the first year of its work. We
have, however, reached a very important result in determining the price
of Sudan cotton, ilelivered at Havre. We can lay cotton down at Havre
at il 24 per 220 pounds. This permits us to look forward to the possibility
of competing with the United States when the yield will be large enough,
We imported from our colonies in 1904
wliicli is a (juestion of years.
al)out 3.3,000 pounds of cotton, and, when the present harvest gathered
in our difTercnt colonies is ready for shipment, vv(! will import in 1905
Over 110,230 poimds of seeds will be .sowed in the Su176,368 pounds.
to this time,

in 1900, and it is not an exaggeration to estimate the yield of the
French colonies for next year at 440,920 i)ounds. I can only give you forecasts, but the important point is the cost of Sudan cotton delivered at
Havre."
(Cotton is also iJiodiiccd in the French colonies of Indo-China and
Madagascar. Clreat efforts are making in those colonies to produce cotton.
The results thus far have not been obtained.

dan

I

509,7.331
5.30,1.391

,480,8 ;s

,402,061

tons of cotton seeds had been ordered by cable from the United States,
but as they arrived late only a .small portion was planted; but the seeds
used produced 100 tons of good cotton. To buy thi.s cotton and to ship
it to the cotton mills of France. $48,250 was sub.scribed by gentlemen in
Paris interested in the business.
The mills that have used the cotton
pronounce it a very .superior article, and it is expected that the Sudan
can be relied upon in the near future to contribute largely to the needs
oflthe cotton mills of France. Some people look forward to the time
when France will be able to depend entirely upon the Soudan for her

is

Yds.
I

17,938'
19,161'

1

62,815 53,857 1,595,053 1,521,489 297.684 283,820.300,499 337.677
477,955 106,700 89,203 127 ,526 106,355
20:826_ 17:1521 571:913

Sundry

$8,042,608
$4,212,763 $56,461,000 $33,610,617
$ 664,373

of cotton were produced, the quality being very satisfactory.

"It

..

auar
Januafy . : .

Stockings and socks

The pos.sibility of raising cotton in the Frencli Sudan, or in anj' of
the French colonies or protectorates, is always a subject of interest in
industrial circles of France.
In the season of 1903-04, it was discovered
that a variety of seeds imported from the United States produced satisDuring
factory results when cultivated according to native methods.
the season 1904-05 tliere was a continuous lack of rain, and but few tons

wYites

. .

419,293

COTTON IN THE SUDAN. In the Daily Consular and
Trade Reports of date Feb. 23 there is a report from Consul
Covert, of Lyons, covering the results of experimenting in
the growing of cotton in the Sudan, as follows:

who

November
December

Lbs.
16.758

1905-06 1904-05] 1905-06! 1904-05

|

The foregoing shows that there has been exported from
Kingdom during the four months 503,300,000 lbs.

the United
of

manufactured cotton, against 457,931, OOOJbs.

last year]

or an increase of 45,369,000 lbs.
A further matter of interest is the destination of these
exports, and we have therefore prepared the following statem:^nts, showing the amounts taken by the principal countries
during January and since October 1 in each of the la.st three
years.

71,196
4,833
513
53,542
9,195

121,441
22,177
3,423
111,980
8,744
7,227
185,387

Netherlands
Other Europe

ciation of Paris,

1904-05

AH.

Total of

Cloth.

Thread.]

Lbs.
22,151
19,805
20,859

,255,483

of\

Total value other manufactures
Aggregate, val. of all cot. goods

&

1905-06 1904-05' 1905-06

2,473,020

3,191.243

2,463,690
194,669
1.120,802
3,736.237
233,881
1,038,452
1,742,919
1,221,87?
500,681
776,524
48,525,998
1,496,639
2,646
18,382
750,860
85,115
3,465,252
703,912
50,836

Germany

I

Yarn

OOOs

1904.

1905.

1st

$.06031

Values of other Manufactures
Cotton Exported to
United Kingdom
Belgium
France

British

from Great Britain for the month of January and since Oct. 1
in 1905-06 and 1904-05, as compiled by us from the British
It will be noticed that we have rethe pre- Board of Trade returns.
duced the movement all to pounds.

12 mos. ending Dec. 31.

471,150

164,6621

Central American States and British

— Below we give the exports of cotton yarn, goods, &c.

omitttd.

114,800
94,597
1.016,030

Other lOurope
British North America

Cuba

AIN.

October

Germany

Mexico

31.

1904.

1905.

United Kingdom
France

465

THE CHRONICLE.

|

EXPORTS OF PIECE GOODS AND YARNS TO PRINCIPAL COUNTRIES
IN JANUARY AND FROM OCTOBER 1 TO JANUARY 31.
January.

—

Yards.
Piece Goods
(OOOs omitted.)

East Indies
Turkey, Egypt and Africa.
China and Japan
Europe (except Turkey).
South America
North America
All other countries

i

1905.

I

244,501 194,.5,55
74,956: 08,005
87,491 87,214!
31,7771 22,302
1

Oct. 1 to

1904.
198,4.33

00,006
57,187
25,090
50,074: 40,706, 45,906
33,265' 26,792i 33,081
49,789, 37,7811 38,440

1905-06

Jan. 31.
1903-04

1904-05
I

952,1601
313,594!
316,678,
105,3461
198,144
122,755i
158,289'

702,859
264,431
160,686
94,693
190,951
122,893
118,125

847,082
355.975
278,052
80,595
184,100
121,020
125.100

571,913 477,955 458, I43I2, 166,9661 1,999 ,424 1.054,638
£6,679 £5,6111 £6.1711 £24,858 £22 ,387 £18,380

Total yards.
Total value.

Yarns

1906.

—Lbs

(OOOs omitted.)

,807
.975
,270

1,603
1,655

13.841
14,211
11,4381
16,401
4,518]
7,1021
7,887

,309

10.406
12,777
7,501
9.386
1,186
5,502
6,399

15,249

13.995

75,3981

£791

£744

,6891
.2501

£2,836

3.397

3.044

2. .374

3.478,

3,592
1.909
2,637

China and Japan.

3.392,
2,951
4,0Sl'
1,0031

590

225

Turkey and Egypt

1,758

All other countries

1,9691

1,023
1,756

18,.551|

£9731

Holland
Germ.any
_
Turkey)-1
Oth .Europe(except
.

ICast Indies

Total lbs...
Total value.

2.343
2,417

SHIPPING NEWS.— As shown on

£3,896

,314
,728
,220)

53.307

a previous page, the

exports of cotton from the United States the past week have
reached 154,874 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:
Total bales.

NEW YORK — To Liverpool, per Bovic, 318 upland, 75 Sea Islan<i

393
69
1
Manchester, per Tintoretto, 1.268 upland, 501 Sea Islaml
178
Havre, per La Bretagne, 178 Sea Island
454
Rotterdam, per Kelvingrove, 454
125
Reval, per Louisiana, 125
125
Riga, per Louisiana, 125
.929
Genoa, per Hamburg, 1,329: Konig Albert. 600.
157
Naples, per Hamburg, 50; Konig .\lbert, 107
2,250
Japan, per Wray C^astle, 2,250
ORLEANS— To Liverpool— Feb. 17 Custodian, 16,903;
Feb.
Feb. 20— Indian, 14,868
Montenegro, 8,479
22— Barrister", 9,000. ...... _^ ._.._. _._ .^ ._.--_.- - ^. - - - - - . 49 ,250
23
Colonial,
.Feb.
To Havre -Feb. 17— Colonian, 7,739.
1
239
7,500
545
To Hamburg Feb. 17 Baroda, 545
1.199
To Antwerp— Feb. 23— Yola. 1,199
GALVESTON— To Liverpool— Feb. 17— Chancellor, 5,0.')4
Feb. 22— Lugano, 4,620.. 20.449
Feb. 19— Etonian, 10,775
Feb. 22— Montauk,
To Havre— Feb. 16— Matador, 2,015
8./46
,-6,731
Feb. 19— Apolo.
6.349
Apollo,
15—
Feb.
To Bremen—
10,200 ...Feb. 22— Montauk. 4,087
^^'S'H
.3,628
To Antwerp— Feb. 17— Tliurland Castle, 3,628..
300
To Mexico— Feb. 10— Atlas, 300
4,352
PORT
To Liverpool— Feb. 22— Winifred, 4.352
fi.lSO
PENSACOLA— To Liverpool— Feb. 19—Gracia, 6.130
100
To Barcelona— Feb. 19— Gracia. 1,100
635
SAV.\NNAH— To Hamburg— Feb. 21— Baron Eldon, 635
100
To Amsterdam Feb. 21 Bedouin, 100
•2.A00
-.To Barcelona— Feb. 21— Federica. 2,800
500
To Genoa— Feb. 21— Fedenca. 500
400
To Trieste— Feb. 21 —Federica. 400
100
To Fiume Feb. 21- Federica. 100
25
NEW.S— To Hamburg— Feb. 17— Albano, 25
Feb. 19BOSTON— To Liverpool— Feb. 16— Cymric, 1,848
"
3.385
"
I vernia,
1 ,.537
,- - r
I ^n" i'
To Manchester Feb. 16— Caledonian, 186 upland, 100 Sea
286
Island
800
BALTIMORE- To Liverpool— Feb. 16— Ouernmore, 800. -. --103
PHILADELPHIA— To Liverpool— Feb. 16— Haverford, 10."?
400
SAN KHANCISCO— To Japan— Feb. 20— Nippon Maru, 400...
Feb. 20—SliiSEATTLK- To Japan— Feb. 17— Lyra, 800
5,287
nano Maru, 4,487
100
100
To Manila— Feb. 17— Lyra,
999
TACOMA To Japan Feb. 21 Telemachus, 999.

To
To
To
To
To
To
To
To

.

1

—

NEW

—

—

—

ARTHUR—

—

—

—

NEWPORT

—

.

Total

.154,874

.

..

THE CHRONICLE.

460
The

.

.

week

particulars of the foregoing Bhipments for the

arranged

our usual form, are as follows:

in

—

A/ ex.,
Ger
0th. Europe
many. North, tiouth. «fc. Japan.

French

Great
Britain

ports

New York... 2,1G:
New Orleans. 49, 250
Galveston ...20,449
Port .Artliur.. 4,352
Tensaoola
6,130

178

704

545

1,5,2;{9

8.746 20,636

7,380
66.233
63,759

300

.'.".'

4,3.-)2

Savannah
Newport News
Hoslon

1.199
3,628

635
25

7.230
4,.535
25

1,100
3,800

100

3,671

3,671

Daltiniore ...

800

800

rinlad.aphia

103

.

103

Sail Francisco

...

400

400

Seattle

100 5,287
999
. . .

6,387

Taconia

999

400 8,936 1.54,874

86 917 24,163 21,841 5,631 6,986
exports to .Japan since Sept. 1 have

Total

The above statement shows:
from the plantations since Sept.
in 1904-05 were 7,451,114 bales;

1.
1

—That the

been 55,478 bales
The
from Pacific ports and 9,750 bales from New York.
Cotton freights at New York the past week have been as

—

2.
That although the receipts at the outports the past
week were 136,015 bales, the actual movement from plantations wa.s 119,556 bale.s, the balance being taken from
stocks at interior
Last year receipts from the
towns.
plantations for tiie week were 86,647 bales and for 1904

they were 50 431 bales.

JUTE

BUTT.S, BAGGINC;, Arc— There has been no acmarket for jute bagging during the week under
review, and the following prices have ruled, viz.: 65^c.
for \% lbs. and 6J^c. for 2 Ib.s. standard grades.
Jute butts
continue dull and nominal at 13^@l^c. for paper quality
and 2@2J4c. for bagging quality.
tivity in tiie

BREADSTUFFS.

follows:
Sat.

Man.

Tuc.<i.

Wed.

18
19

18
19

18
19

18
19

Havre
c.
Bremen, asked. c.
IlambnrK
c.
Antwerp
c.

a27
25
25
25

027
22
25
25

027
22
25
25

027
22
25
25

Ghent, v. Ant-.c.
Reval, indirect. c.
Reval, V. Canal .c.
Barcelona, Mch.c.

31

31

31

31

35

35

35

35

24

24

24
18
34

Liverpool

c.

Manchester

c.

24
18
20
34
Trieste
34
Japan,
60
60
Quotations are cents per 100 lbs.

Genoa

18

c.
c.
prompt. c.

34
60

Thurs.

Fri.
18
19

027
22

H

O
L

25
25

I

31

D
A

35

Y

24
18

34
60

60

And

a

5 per cent

LIVERPOOL. — By

cable from Liverpool we have the
of the week's sales, stocks, &c
at

following statement
that port:

.

Feb. 2.
bales. 82,000
Sales of the week
Of which exporters took.. 3,000
Of which speculators took 3,000
Sales American
68,000
Actual export
9,000
Forwarded
85,000
Total stock— Estimated.. 1,187,000
Of which American Est 1 ,046,000
Total import of the week.. .140, 000
Of which American
102,000
Amount afloat
281,000
Of which American
206,000

—

Feb. 9.
67,000
2,000
2,000

Feb. 16.
69,000
3,000
4,000
57,000
15,000
78,000
1,195,000
1,062.000
72,000
55,000

57,000
11,000
94,000
1,216,000
1,076,000
134,000
99,000
209,000
149,000

206,000
140,000

,

Feb. 23.
64,000
3,000
4.000

55,000
14,000
76,000
1,176,000
1.050.000
71.000
50.000
241,000

The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.

Market
12:15

P.M.

1

\
J

Saturday.

Monday.

Tuesday.'^

Wed'day.

Fair
business
doing.

Fair
business
doing.

Moderate

demand

Mid.Uplds

Thursday.

Friday.

Moderate

Fair

demand.

demand.

Good
demand

5.88

5.88

5.82

5.79

5.74

5.73

Sales

8,000

8.000

10,000

Spec.&exp.

1,000

10,000
1,000

500

500

14,000
1,000

10,000
1.000

Futures.

Market
opened

Market

1

J

Quiet at

Steady at

Quiet at

3 points
decline.

4 points
decline.

advance.

1

Firm at

J

2(a4 pts.
advance.

4

P.M.

Steady
at 1 pt.
decline.

Quiet at

3®5

pts.

1@2

Sfy

steady at Very

Quiet at

4@7

1@2

pts.
decline

decline.

Dull unch.
Easier.

pts.

pts.
decline.

to 1 pt.
decline.

St'y

unch.

at l@3pts. to 2 pts.
decline.
decline.

The

prices of futures at Liverpool for each day are given
Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated.
The prices are given in pence and \OQlh
Thus: 5 73 means 5 73-lOOd.

below.

.

Sot.

Men.

Feb. 17.

Feb. 19.

Tues.
Feb. 20.

Wed.

Thurs.

Fri.

Feb. 21.

Feb. 22.

Feb. 23.

12K 1 12M 4 12H 4 12M 4 12H 4 12M 4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.

d.

d.

February. 5 73 5 76 5 74
Feb.-Mch. 5 73 5 76 5 74
Mch.-Apr. 5 74 5 77 5 75
Apr .-May. 5 77 5 SO 5 78
May-June 5 80 5 83 5 80
June-.Tulv 5 82 5 85 5 82
July-AuK. 5 84 5 86 5 84
Aug.-Sep. 5 80 5 82 5 80
Sep .-Oct . 5 63 5 67 5 67
Oct.-Nov. 5 58 5 63 5 63
Nov. -Dec. 5 57 5 62 5 62

d.

d.

5 72 5
5 72 5
5 73 5
5 76 5
5 78 5
5 80 5
5 82 5
5 79 5
5 64 5
5 60 5
5 59 5

d.

68 5 65 5
68 5 65 5
69 5 66 5
72 5 69 5
74 5 72 5
77 5 74 5
78 5 76 5
74 5 72 5
61 5 59 5
58 5 56 5
56 5 54 5

d.

d.

65
65
66
69
72
74
76
73
60
57
55

d.

5 63 5
5 63 5
5 64 5
5 67 5

5
5
5
5
5
5
5

58
59
63
63
70 5 67
72 5 69
74 5 71
70 5 67
57 5 55
54 5 52
53 5 50

d.

rf.

d.

5 60 5 59 5
5 60 5 59 5
5 61 5 60 5
5 64 5 63 5
5 67 5 66 5
5 69 5 68 5
5 71 5 70 5

5
5
5
5

68
56
53
52

5
5
5

5

59
59

60
63
66
69
70
67 5 67
53 5 54
50 5 51
49 5 50

Dec-Jan.

RECEIPTS FROM THE PLANTATIONS.— The

Week

Receipts at the Ports.

1906.

fol-

1905.

1904.

Stock at Interior Tovms.
1906.

1905.

1904.

Receipts Jrom PlantaVns.

1906.

1905.

1904.

Jan. 19 138,099 122,952 162.279 721.646 705,518 482,584 131,696 82,431 150,343
" 26 110,898 15r.,fi70 141.383 720,114 r)9r,,578 450,989 109,366 147,7.30 109,788
Feb. 2 121,793 140,223 153.602 711.634 674,372 424,.S4.> 113,313 118,019 126,955
"

'

of flour prices has been on the whole downlittle trade, either for export or home consump-

ward, with
tion, although there has been some export business with
West India and South American markets. The declining
tendency of the wheat market has led buyers to pursue a
hand-to-mouth policy and the effect on the market may
very easily be imagined. Corn-meal of late has been quiet
and steady. Rye flour has been in moderate demand and
about steady. Wheat flour to-day was quiet and steady.
Speculation in wheat for future delivery has been quiet
and the general drift of prices has been downward, new low
records for the season being established almost daily. The
reasons are to be found in the declining foreign markets,
large shipments from competing markets of the world, large
receipts at Western points, favorable weather and crop reports and an absence of a good export demand for American
wheat. Moreover, the crop reports of late from India have
been more favorable, and the French acreage is estimated
at 16,081,000 acres, against 15,632,000 last year. Argentina
has been shipping with noticeable freedom, and the visible
supply in this country decreases but slowly. Then, too, the
flour trade of the West is disappointingly light and the speculation is of a narrow, professional, and in the main rather listless sort. But little attention has been paid to the Moroccan
affair. The spot market has been dull and weak in sympathy
with the decline in futures. To-day the market, after an
early dechne, advanced on covering of shorts, due largely to
Damage was
bad weather reports from the Southwest.
claimed in Indiana, Missouri and Michigan. The spot market was quiet and stead^^
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
fSat. Mon. Tues.
Wed. Thurs.
Fri.
f.o.b. 89?^
90
No 2 red winter
89^ 88M 88M
May dehverv in elevator
87J^ 88Ji 88M 88K Holl- 88
July delivery in elevator
875-g
September dehvery in elevator.. 85

9 131.605 85,544 127,081 697.084 056,712 404,0()4 117,0.W
16 131.235 68,566 87,921 674.590 630,590 385.308 108.741
23 136.016 103,960 66,697 658,131 616.277 .369,142 191,506

07,882 100,803
42.444 69.166
80,647 60,431

87^

87?^

8714

day

Mon. Tues.

Wed.

Thxtrs.

Fri.

82}^
SIJ^
80 Ji

HoU-

82Ji

87><

M 85M 85 J^ 85 Ji
85Ji
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat.

May deUvery in elevator
S2%
July dehvery in elevator
81H
September deUvery in elevator.. 80 Ji

83^

9,2%

82}^

81^

81 J^

81

81H
S0%
and of

day

Indian corn futures have not been at all active,
late have been declining under the weight of scattered liquidation by operators who have become tired of waiting for
a sustained advance. One check, however, on the downward tendency of quotations has been the poor grading at
the West, the proportion of contract quahty in the receipts
at Chicago being noticeably small. This has been due largely
to unfavorable weather conditions, rains being at times
heavy, and mild temperatures generally prevaihng, which
have had the added effect of putting the roads in rather bad
condition, and so impeding the movement of the crop. The
recent export demand has been rather liberal but of late it has
diminished veiy noticeably, exporters refusing to take hold
except at concessions. To-day the market closed higher, owing to unfavorable weather at the West and reports that the
weather is too dry in Argentina. Covering of shorts was a
feature. The export trade was light but fair orders were reported in the market.
,

DAILY CLOSING PRICES OF NO.

2

Sat.

Cash corn

f.o.b.

47H

deliverv in elevator
48^
July delivery in elevator..
493^
September dehvci-y in elevator.. 49»^

lowing table indicates the actual movement each week
from the plantations. The figures do not include overland receipts nor Southern con.sumption; they are simply
a statement of the weekly movement from the plantations
of that part of the crop which finally reaches the market
through the outports.

—

Friday, Feb. 23 1906.

The tendency

May

ending

total receipts

1905 are 6,654 ,2.'>5 bales;
in 1903-04 were 0,750,816

bales.
Total.

... 2,250

2.086

[Vol. lxxxii.

IN NEW YORK.
Mon. Tues. Wed. Thurs. Fri.

MIXED CORN
47!^

49>C
49?^
50

47>^
49
49J4
50

47H
485^
49
49 Ji

Holi-

day

47Ji
48Ji

49^

50i<

DAILY CLOSING PRICES OF CORN FUTURES IN CHICAQO.
Sat.

May deUvery

in elevator
July dehvery in elevator

September delivery

in elevator.

.

42 If
43 14
43 'i

Mon.
43

'^

43^
44}^

Tves.
43

43 V«
44

Wed. Thurs.
42 J^
43 Ji
44

Holi-

day

Fri.

43

43H
44^8

Oats for future delivery at the Western market have been
depressed, partly owing to the steady decline in other grain.
At times reports have been rife of a better export demand,
prices now being on an export ba.'^is, and some business has
been done. To-day futures closed higher on the covering of
There was also some export
shorts and lighter offerings.
business.

DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat.

No. 2 mixed
No. 2 white cUpped.

f.o.b.
^^f.o.b.

345^
345^

Mon. Tues.

34^
34^^

34^^
34^^

Wed. Thurs.
HoU35
day
35

Fri.

35
35

b

THE CHRONICLE.

Feb. 24 1906
DAILY CLOSING PRICES OF NO.

2

MIXED OATS

Sat.

Mon.

Tues.

delivery in elevator
29H
28J^
July delivery in elevator
21%
elevator..
September delivery in

29J^

2Q%

May

29^

293^

27K

28

IN CHICAGO.

Wed.Thurit.

29%
29H

Fri.

30H

Holi-

day

2<^%
283^

28

EXPORTS OF FLOUR AND GRAIN FROM PACIFIC

—

467

Coarse, colored cotton goods are steadily held, production
being still sold far ahead and near-by supplies being scarce.
Linings are unchanged and the demand has been good.
Napped goods have been held more firmly than had been
Prints are about steady and ginghams are quiet
expected.
and in fair request. Wide print cloths have been sold at

The exports of grain and flour from Pacific ports
week ending Feb. 22, as received by telegraph, have lower prices but narrow goods are steadily held at old
been as follows: From San Francisco to Japan and China, figures, owing to mills being well sold up.
5,000 barrels flour; to South Pacific ports, 122 barrels flour;
WOOLEN GOODS— Many men's wear woolen and
Combining these figures with those for previous weeks, worsted goods buyers have now returned to their homes
we have the following, which covers the exports to foreign and the market has in consequence become quieter. Agents
countries for the period since July 1 1905, comparison being have therefore had an opportunity of drawing comparisons
made with the corresponding period of last year:
between this season and last, and the consensus of opinion

PORTS.

for the

Wheat,

Flour,

—

Corn

Oats,

bush

bush
1,669

bbls.

bvsh.

348,569

250,031
5,475,000
4,763,152

28,900
36,862

Total
2,473,685 10,488,183
Total 1904-05.1,871,053 4,486,756

65,762
137,493

Exports fro7n
San Francisco

Puget Sound. 1,328.23')
Portland
796,887

Barky, Rye,
bush. bush.
...

249,916
32

1,982,558
149,200
325,655

251,617
410,628

2,457,413 315
3,901,656 1.248

315
...

For other tables usually given here see page 431.

THE DRY GOODS TRADE.
N'ew York, Friday, February 23 1906.

Business in the cotton goods market has not been of large
proportions during the past week and further irregularities
The continued lowering of
in prices have been reported.

that purchases so far this season are very much smaller
than they were last. This is explained by the fact that
at the outset buyers were undecided as to what fabrics
would prove the most popular. This, however, was soon
decided in favor of worsteds. Later, the question arose
as to whether the retailers and consumers would pay the
advanced prices rendered necessary by the increased cost,
This is still unanswered and many
of the raw material.
have refrained from purchasing their usual quantity of goods
until they can find out more definitely about it.
Some manu-

is

facturing clothiers will, of course, increase the cost of their
product rather than lower the quality of the cloth they use,

but others are more likely to substitute cheap cloth and
charge the consumer the same price as before. It is this
uncertainty as to what will be done that has interfered to"
values in the raw material market is having its effect on a large extent with initial business.
It is not claimed,,
both buyers and sellers, and the former are operating very however, that the consumptive demand
will be any smaller
cautiously.
The irregularities that have occurred have this year than it was last, and for this reason
re-ordering;
been on future business, near-by goods, being still difficult is likely to be on a large scale. There has
been no change
They have also been of importance in the dress goods market,
to obtain and being steadily held.
the demand being
most pronounced in the case of lines that are not prominent, fairly good, but business being somewhat interfered
with by
and which, for that reason, have not experienced the same the holiday.
demand as the better-known fabrics. Sellers of the latter
FOREIGN DRY GOODS.— Imported woolen and worsted
are holding very firmly and claigi that they are so far booked dress
goods have been steady and unchanged. Silks are
ahead that there is no likelihood of any declines for some in better demand and firm. Linens are
still advancing and
time to come. Buyers generally are simply purchasing burlaps are steady at recent figures.
enough goods to fill their immediate needs, for which they
Importations and Warehouse Withdrawals of Dry Goods.
have to pay full prices, even the slightly lower figures
The importations and warehouse withdrawals of dry goods,
which would be accepted for future business not being suffiat this port for the week ending Feb. 22 1906 and since Jan. 1
ciently attractive to cause them to operate with any amount
1906, and for the corresponding periods of last year are as
The export demand was somewhat of a factor
of freedom.
follows:
during the early part of the week, some fair-sized sales
NO) 00 00 00
^coiMr^OJ 00 V5
1^
N CO
Tf
COUi
coo
^ rt O (N
00
being reported, and further inquiries being received, but
*_*«-<_ 00 IN 00
co_oq
o>3
OOMtjTo^"
cc'oo"
—
-H
^ o: -h"oo"
towards the close offers were more or less withdrawn and
—10:
t^co-^t^oo
C0r-(C<1-Hl^
T)<

,j(

.<

this division again

became

dull.

Transactions in the men's

ti2^_t^_qoo_

.-i;^

wear woolen and worsted market have fallen off considerably during the week from what they have been of late.

DOMESTIC COTTON GOODS.— The

exports of cotton

to

Week.

Feb. 19.

6
15

Jan.l.
95

37
368
36
212

Africa

West Indies
Mexico
Central America

South America
Other countries

'J' to 00^00
tU U3 IQ U3 03

2,025
149

253
18,375
3,513
4,305
1.405
3,529
265
2,302
10,466
1,927

Since

Week.

Jan.X.

15
7
7,601

151

250
599
1,187

480
56
500
1,396
831

»^t~O>N00

(NMOOOr^

115
24,592
3,247
736
1,460
4,167

r-t

CO

•-(

cq

«

COOCCtCO)

ooo'ioccin
OStJ^CDt}<^

O 00 to IN C^

^
0)0»OOiM

Total

2,848

The value

of these

46,435

New York

12,928

exports since Jan.
$2,492,374 in 1906, against $2,651,895 in 1905.

Heavy-brown

1

49.273

has been

and sheetings have been moving very
slowly to thehome|trade, even some slight concessions offered
not stimulating the demands of buyers. These goods have
been held so high for some time past that buyers have
sought to substitute for them lighter-weight goods wliicii

market shows

change

<

C-)

CO jC

^
^ ^ Oi,-^
OCOOO,-i(M

<N(N
o:cO

,-iiOCO--icD

1>-_(N

"5

Tj<

CO O!

,-1

roo,-i')'tD

o£>-

OMiOCO
"-•OSOJ-HOO

liiiN

ic (M 00

7;<N

If:

W
H
;?

o
P

totaled

Jeceiving

(NCCINMOS
I^ to 00 O O
rtCO-^CnO
cicO-'^OO
-hiO-hO<N

I?

at slight concessions.

o
Pi
w
H
M

0)CCiOt^Tj<

(N-H

CO
o:'

(N

t^N'*CD>0
OSOSiOWIIN
OOCC^lNt^

<!

t^oococ^O

^^

coco

oc-*i<»oco
CO ^- 00 10 o:

c>f:ccooo:
OSiOINUlC^

P
O
K
W

coco
COt^
•*co
CC-I

M

*o
00
w <

o >o CO X ^^
cr^oof^o:
t^t>-OCC

r-.

COO
coo

Tj<0

M"T)""M'cio:

a
w
H

00:0:000s
iCtNtOtOO
ro-^ocoo:

10 CO

t>^»ccot>-co

woo
1000
com

wOCOOSiO

CO

W^ f^

0:r^

"-*

o:cO'-<'t (^

roccMTfO

X

cc
'^
1^

TJICO

COO)
00 U5

Oi'f

to

I

]

CONCCI^O

y^

cnt^ooxto
00

* Q
c^ W

1^ to

!-•

^-

*i*

»c CO o:

iC »0 — CO
O
•^ »o C^ CO i^

H
<A
o

10
CO

tato

*

>ox
oci

C"
IN

IN 10

X

COt1<

r-

i

!S
a
1®

J o2
1)

w

t:

-e
,

O

oa

'

I

0:3-- u

0.

a

?!

3

^

*-»

co"

'

2s

5

X
CO

tc"x'

•a

I

"

t^co

ci10 IC

*

0.

,-.

r-x

°z

•a

is

rH
•-*

•<l<cocoo:o>

:

a

*co

oi,

(NCO

'

tid

coco
t^oo

OSTjl

in prices,

offered quietly

oo-*cot^-<

TjiOOCOiO

r-i

M

30,000 bales since the persent movement
The bleached goods market is quiet with sellers
some iiK|uiries for the finer counts, but others

moving slowly and

000

P

ro

fully

started.

^"co"
00 c»
CO 05

S O

•*eo

<N

^
X

The light-weight

o:co

00 CO 00 CO 00

Vi
00 CO

osior^-o^oo
,-liOIMCOtO

t» t^ ,-1 0:
lO r^ 00 CI
«(< 00 to 'O C5
1-h"
'- C>1 *"

feis;j

<»00

OCO
coo

ifliO'^i-iN

-Ht^00O:co

Pi

<

but lower figures would
probably be accepted for future business if the offer were
made. Export business has included standard drills and
sheetings and three-yard sheetings, and is reported to have
little

w

(NfO
0:0:

IN-HrH|M

drills

could be purchased relatively cheaper.

o

ro t^ lo

OStDM

C^l

O:00O!'*co

Q

>-l

iccoroocio

347
2,772
9,028
2,658

,-ioooct^'n
00 •* -H t^

t~o

CO 05

i^co

o

O0>-iCO00N

1905

Since

New Ym-k

Great Britain.
Other European
China
India
Arabia

0:00
coco

H
W

c^ft.

2*2"^

1906

O O M -<
O
05-^OCD^^

lN00 00tO,-<

goods from this port for the. week ending Feb. 19 were 2,848
packages, valued at $156,672, their destination being to the
points specified in the tables below:

cow-Hioco

T)<co

TtOst^OOO

TjH

OJ

X-

1
,

0.

Ut

^

--T3
c^ a>

,

s
«

lU

^C H
U

:

.

—

.

.

THE CHRONICLE.

468

St^te

yiTJD

—

City Dep/vj^tmewt.
News

Items.

—

The United
Drainage Canal J)ccif<ii)ii
Ohicago, 111.
State- Supreine Court, in a decision handed down on Feb. 19,
lield that tlic State of Missouri did not prove its case in the
sviit biimclit by that State against the Stat(> of Ilhnois involving tile right of tlie Citj' of Chicago to (Uvert its sewage
into tlie Mississippi River througli the Chicago sanitary
canal and the Illinois River. The suit was instituted several
years ag<>, the State of Missouri claiming that the diversion
of this sewage would have an injurious effect on the health
of the people of Mi.ssouri residing below the mouth of the
Illinois River.

—

—

Toronto, Ont.
Debt of Cih).
V\'e are informed that this
city has a gross bonded debt of $24. 006, 916 and a sinking
fund of .$6.591 ,368. The water debt included in the gross debt
above is $5,089,013, and the local improvement debt (payable by special asses.sment), also included in above, is S4,623,554. The debt, therefore, remaining after deducting the water and assessment debt, as well as the sinking fund assets,
The assessed valuation for 1906 is given as
is S7. 762 ,981.

Albany, N.

[Vol, lxxxii.

Y.—Bond Sale.— On

Feb. 20 the $82,000

3H%

l-20-y(;ar (serial; registered public-improvement bonds described in V. 82, p, 348, were awaided to the Albany Savings
Bank of Albany at par and accrued interest. No other bids
were received for tliis i.ssue. The $319,750
1-10-year

4%

(.serial)

registered street-improvement bonds, a description

of which was given in the same issue, were awarded in lots of
$31,975 each, as follows:
.MatuTiw.
I'uTdtxiscT.
1907 Albany .Savini-'H Bk.. Albany
1908 Albany i:xeli.Sav.Bk.,Alby.
1909 Commerce Ins. Co
1910 Albany Co. Siiv. Bk.. Albany.
1911 Albany Savings Bk.. Albany.

Albion,

County,

Purchaser.
Prict.
J'rice., Maluritv.
100.0511912 Albany Co. 8av. Bk.. Albany 100.25
lOOOC 1U13 W.J. Hayes <fe Sons. Cleve.. 100.25
riOO.33
I00.:U)l 1914'
100 .:ioi 1915, Albany Co. .Sav.Bk., Albany* 100. 44
100.25! 1910j
U00.70

Pa.

—Bond

Issue

Postponed

Inthe advisaWe are informed, however, that a survey shows that such a plant
would cost from $25,000 to $30,000, and as the borough
cannot issue bonds for this amount the project has been

Erie

—

definitely.
This b(jrough has been con.sidering
bility of issuing bonds for water purpo.ses.

abandoned.
to

—

—

Altoona, Pa. Bonds Voted. On Feb. 20 the proposition
issue the $300,000 reservoir and the $100,000 street,

avenue and highway-improvement bonds mentioned in V. 81
p. 1746, carried.
The vote was 3,249 for to 2,131 against
the reservoir bonds and 2,943 for to 2,143 against the im$169,561,316.
provement bonds.
Anaheim, Orange County, Cal. Bond Election Postponed.
Calls and Redemptions.
We are advised that the election which was to have been
Apache County, Ariz. Bond Call. -This county calls held Jan. 20 (see V. 81, p. 1806) to vote on propositions to
issue bonds aggregating $69,000, has been indefinitely postfor payment Feb. 12 bonds numbered 91 to 95 inclusive.
poned, owing to an error in advertising the notice.
Call is
Bloomfield, Stoddard County, Mo. Bond Call.
Andover (S. D.) School District. Bonds Not Sold. No
bond
No.
of
elcctric-Ught
6,
made for payment March 19
payment to be made at the Merchants-Laclede National sale was made on Feb. 14 of $10,000 5% school bonds offered
on that day. We are informed that the district v,ill re-offer
Bank of St. Louis.

Bond

—

—

—

—Bond

—

—

— E. T. Bassett,

City Treasurer, called for payment Feb. 10 at the office of the City
Treasurer the following bonds:

Champaign,

111.

Call.

—

—

$800 Springfield Avenue assessment No. 27 bonds, dated Aug. 12 1902. Series 4
Bond 63 due Aue. 12 1907' Series fi, Bond 73 due Aug. 12 1909; Series 8, Bond
82 due Aug. 12 1911: Series 9. Bond S7 due Aug. 12 1912.
300 Park Street assessment No. 29 bonds, dated Oct. 14 1902. Series 4. Bond It
due Oct. 14 1907; Series 6. Bond 21 due Oct. 14 1909; Series 8, Bond 32 du«
Oct. 14 1911.

300 Park Street as-sessment'No. 30 bonds, dated Nov. 4 1902. Series 5, Bond 16
due Nov. 4 1908: Series 7. .Bond 46 due Nov. 4 1910; Series 9. Bond 27 du«

Nov. 4 1912.
300 Washington Street assessment No. 32. bonds dated Sept. 9 1903. Series 3,
Bond 16 due Sept. 9 1907; Series 4. Bond 7 due Sept. 9 1908: Series 5, Bond 9
due Sept. 9 1909.
600 Prospect Avenue assessment No. 34 bonds, dated June 15 1904. Series 3.
Bond 7 due June 15 1908; Series 5, Bond 13 due June 15 1910; Series 6. Bond 16
due June 15 1911; Series 7, Bond 38 due June 15 1912: Series 8, Bond 41 du«
June 15 1913; Series 9. Bond 63 due June 15 1914.
300 Elm Street as.scssment No. 35 bonds, dated June 29 1904, Series 3. Bond 6
due June 29 1908: Series 5. Bond 20 due June 29 1910: Series 8. Bond 37 du«
June 29 1913.

these bonds.

—

—

—

Atlantic Highlands, N. J.
Bonds Voted. The election
held Feb. 15 to vote on the ciuestion of issuing the $12,000
5% light bonds mentioned in V. 82, p. 231, resulted in favor
of that proposition, the vote being 134 for to 82 against
the issue.
Barberton, Ohio. Bond Offering.
Proposals will be received until 7 p. m. March 19 by George Davis, Village
Clerk, for the following bonds:

—

S7,860

5%

900

5%

—

coupon Sewer District No. 1 Improvement bonds. Denominations $1,500
except one bond tor Si, 860. Maturity on March 1 as follows: $1,500
yearly from 1907 to 1910 inclusive and S1.8G0 in 1911.
coupon Sixth Street and Creedmoor .\ venue sanitary sewer bonds.
Denomination $300. Maturity $300 yearly on March 1 from 1907 to
1909 inclusive.

Authority Section 2835 of the Revised Statutes. Date
Interest semi-annual.
Certified
of bonds March 1 1906.
Bonds Not Yet Redeemed. The City Treasurer called for check for $200, payable to the Village Treasurer, required
payment Oct. 1 1905 sewer bonds numbered 15 to 23 in- with bids for each issue. Bonded debt, including this issue,
Assessed valuation for 1905, $2,640,450.
clusive, of S500 each, dated Oct. 1 1896 and due Oct. 1 1906. $168,648 70.
We are informed by the City Treasurer that Nos. 15 and 16
Bath, Me. Bonds Refused. This city on Feb.- 13 awarded
of these bonds have not yet been presented for payment.
$10,000 3}/2% 6-year registered sewer bonds to the Bath SavGlasgow, Howard County, Mo. Bond Call. Two water ings Institution at 98.7577. We are informed that the sucbonds of this city are called for payment March 10 in St. cessful bidder subsequently refused to take the bonds, claiming that they were not legally issued.
Louis.
Bayonne, N. J. Bonds Not Sold. No bids were received
Feb. 20 for the $50,000 4% gold improvement bonds
Proposals and Negotiations tliis week on
offered on that day. Date of bonds March 1 1906. Interest
have been as loUows
Jan. 1 and July 1. Maturity six years.
Abilene (Kan.) School District No. 5. Bonds Voted. The
Bend School District No. 12, Crook County, Ore. Boiid
election held Feb. S resulted in a vote of 890 to 210 in favor
On Feb. 10 the $6,500 (amount increased from
Sale.
high-school
bonds
mentioned
in
V.
of issuing the $35,000
$6,000) 10-20-year (optional) gold coupon school-building
Details of issue and date of sale not yet de82, p. 348.
bonds described in V. 82, p. 173, were awarded to Morris
termined.
The
Brothers of Portland for $6,562 30 for 5 per cents.
Decatur),
Ind.
Bond
Adams County^ (P. 0.
Offering.
following bids were received for the $6,000 bonds as adverProposals vill be'received until 10 a. m. March 5 by J. F. tised:
Lachot, County Treasurer, for $2,800 4}^% coupon road- Morris Bros..
/(For f>s)-.$6,400 OOIC. H. Comn. Chlcaco (for 6s). .$6,061 00
UForSs).. 0.057 50 S. .\. Kean. Chiciigo (tor 6s)... 6.006 00
Portland
Denomination $140. Date Feb. 15
construction bonds.
J. M. Holmes, Chicago (for 6s). 5.550 00
Browne-lvUlnwood Co., ChiInterest semi-annuallj^ at the First National Bank
1906.
0,045 001
cago ilOTo'As)
every
months
beginning
Maturity
one
bond
six
in Decatur.
Proposals will be
Beresford, S. Dak. Bond Offering.
Nov. 15 1906. Certified check for 3% of amount bid, received until 8 p. m. March 5 by H. A. Sturges, City
drawn on some bank in Adams County and made payable to Auditor, for $4,000 5% 5-20-year (optional) funding and
the Board of Commissioners, required.
De$3,000 5% 5-20-year (optional) improvement bonds.
Alabama. Bond Offering. Proposals will be received nomination $200, Interest semi-annual. Certified check
until 12 m. March 15 by Wm. D. Jelks, Governor, for for $100 required.
Brockton, Mass. Bonds Authorized. This city has been
$7,437,600 gold bonds to renew Classes "A" and "B"
authorized by Legislature to borrow $100,000 for water
bonds, aggregating $7,437,600, and maturing July 1 1906.
and $100,000 for sewer purposes.
Bids are asked for bonds bearing 3"/^% interest and for
Y. Bond Issue. Grade-crossing award
Buffalo, N.
bonds carrying 4% interest. Denominations, $500 and 4% bonds to the amount of $11,548 94 has been auInterest semi-annually on registered bonds in thorized.
Date March 1 1906; maturity July 1 1907.
$1,000.
Montgomery, Ala., and on coupon bonds in New York Under the ordinance these bonds are to be taken at par by
Park Bond Redemption Sinking Fund as an investMaturity fifty years. Securities may be coupon or the
City.
ment.
Certified check for 5%
registered, at option of holder.
Caddo Mills (Tex.) Independent School District. Bond
of the amount bid for, payable to the Governor of Alabama, Election Proposed.
The Board of Education has been reThe entire amount of each accepted bid, or so quested to call a special election to vote on the question of
required.
much as may remain unpaid, must be paid for, either in issuing bonds for a school building.
Center Township CUnton County, Ind. Subsidy Voted.
cash or in an equal amount of Alabama bonds, which are
township on Feb. 13 voted a subsidy of $55,375 to
This
to be refunded, sixty days before the maturity of the present
the Toledo St. Louis & Western RR. to enlarge the general
The State reserves the right to retire present shops of that company located in Frankfort.
bonds.
bonds to an amount not exceeding $600,000.
Charleroi School District, Washington County, Pa.
The official notice of this bond offering will be found among Bonds Defeated. This district at election held Feb. 20 dea ted a oroposition to issue $25,000 school-building bonds.
the advertisements elsewhere in this Department

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THE CHRONICLE.
469
Chicago,
—West Chicago Park. — Bond Offering. — Pro- Elmdale School District, Stanislaus County, Cal. — Bond
$8,000 6% 10-year bonds
posals
the West Sale. — On Feb. 14 an issue
4 p. m. March 21
be received
I'KB. 24 190(»

111.

of

bj^

until

^vUl

was awarded to W. F. Johnston of Los Angeles at 106.825.
Park Commissioners, Union Park, Chicago, for
A bid was also received from the Wra. R. Staats Co. of
$1,000,000 4% small park and $1,000,000 4% improvement Pasadena at 104.825.
Denomination S800. Date Feb. 14
and maintenance bonds. Securities arc part of the $3,000,- 1906. Interest annual.
000 bonds (§1,000,000 small park and $2,000,000 improveEnglewood, N. J. Bond Offering. Proposals will be rement and maintenance) authorized at the election held last ceived until 6 p. m. Feb. 28 by Robert Jamieson, City Clerk,
Novcinber. Denomination $1,000. Interest April 1 and for $16,000 4J^% city-hall bonds. Authority Section 70.
Chapter 52, Laws of 1899. Denomination $1,000. Date
Oct. 1 at the office of the Treasurer. Maturity $50,000 of April 1 1906. Interest semi-annually in Englewood.
Maeach i.^sue yearly for twenty years. Separate bids to be turity April 1 1936. Certified check for $1,000 to accommade for each issue. Certified check for 2% of the amount pany bids. Purchaser will be required to furnish blank
bonds. These are the bonds awarded last December to
of the bid payable to the West Chicago Park Commissioners,
N. W. Halsey & Co. of New York City and subsequently
required.
Joseph F. Haas is Secretary to the Commis- refused bj' that firm. See page 407 of last week's "Chron[

Cliicago

|

i

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sioners.

icle."

bond offering will be found among
the advertisements elsewhere in this department.
Chippewa, Ont. Debentures Defeated. This village on
Feb. 15 defeated a by-law providing for the issuance of
$26,000 water-works debentures.
Clinton, Mo.
Bonds Voted. The election held Feb. 15
resulted in favor of the proposition to issue the $30,000
light and the $70,000 water-works 4% 5-20-year (optional)
bonds mentioned in V. 82, p. 231. Date of sale not yet
determined.

Escanaba (Mich.) School District. Bond Election. It is
stated that an election will be held on March 5 to vote on
the question of issuing $25,000 high-school-building bonds.

Tlie official notice of this

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or more.

Coldwater (Mich.) School District. — Bonds Defeated—Bond
Election. — This district on Feb. 7 by a vote of 230 for to 271

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$1,000

5%
0%
S%

rcfundiiiK bonds.
rrfimdinfi bonds.

1,000
refunding bonds.
1.000
1,500 5^; rci'uiidint; bonds.
1,500 S'o rcfutidinK bonds.

•

Authority

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Maturity
Maturity
Maturity
Maturity
Maturity

March
March
March
March
March

1
1
1

1
1

1918.
1918.
1918.
1917.
1917.

1536-283 of the Revised Statutes.
Date March 1 1906. Interest semiCertified check for 10% of the bonds bid for, paySection

Denomination $500.
annual.

able to the City Treasurer, required.

Coronado, Ca\.— Bond Sale.— On Feb. 19 the $135,000 5%
1-40-year (serial) coupon municipal improvement bonds
described in V. 82, p. 292, were awarded to the National
Bank of Commerce of San Diego for $138,112.
Custer County (Mont.) Free High School District. Bo7id
The Board of County Free High School Trustees
Offering.
will seU at public auction at 2 p. m. Apftl 2 at the office of the
Secretary, Ida E. M. Wiley, in Miles City, 835,000
high-school bonds.
Authority vote taken at election held
Dec. 30 1905. Denomination $1,000.
Date March 1 1906.
Interest semi-annual.
Maturity twenty years, subject to
call after ten 5'^ears.
A cash deposit of 5% of bonds must
be made by the successful bidder with County Treasurer
immediately upon acceptance of bid by the Board.

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Essex County (P. O. Newark), N. J. Bonds Proposed.—
The issuance of $300,000 court-house and $500,000 countyhospital bonds is proposed.
We are advised that the $300.000 court-house bonds will be sold to the Sinking Fund Commissioners when authorized and that the $500,000 countyhospital bonds will not be ready for issuance for two months

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against defeated a proposition to issue $12,000 school bonds,
We are informed that a new election has been called for
Feb. 26 to vote on this question.
Conneaut, Ohio. Bond Offering. Proposals will be received until 12 m. March 10 by H. T. Gulp, City Auditor, for
the following bonds:

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Estacada, Clackamas Coimty, Ore. Bonds Authorized.
The City Council has decided to issue $10,000 water-works
bonds.
j

Ewing, Holt Coimty, Neb.

— No

Bond

Election.

i

— We

are

advised that the report appearing in some of the papers
that this village will hold an election on Feb. 27 to vote
on the question of issuing railroad-aid bonds is erroneous.
Fairfax, Renville County, Minn.
Bonds Voted. This
village, by a vote of 90 to 7, at election held Feb. 13, authorized the issuance of not exceeding $6,000 4% village-hall
bonds. These bonds we are informed, will probably be
sold to the State.
Fall River, Mass.
Bond Sale. On Feb. 21 the $160,000
4% 10-year registered municipal bonds were awarded to A. B.
Leach & Co. of New York City at 103.08, and the $60,000
4% 30-year registered sewer bonds were taken by R. L. Dav
& Co. of Boston at 108.699. Following are the bfds:

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S160.000
10-Yt. Bonds.

$60,000
30-Yr. Bonds.

& Co.. New York
103.08
107.27
R.L.Day & Co., Boston
102.789
10S.699
R. Kleybolte &Co., New York
_
108.67
.\dams & Co.. Boston
103.03
107.32
Kstabrook & Co., Boston
102.58
106 29
Blake Bros. & Co., Boston
102.55
107 17
Blodsct. Merritt & Co., Boston
102.43
106.77
N. W. Harris & Co.. Boston
102.283
106.271
C. S. Cummings & Co., Boston
106.64
See V. 82, p. 408 for description of bonds.
Findlay, Ohio. Bonds Authorized.
The City Council has
authorized the issuance of the $5,000 park bonds, mention of
which was made in last week's issue.
Fort William, Ont. Debenture Sale.
This town recently
sold $30,000 high-school, 820,000 water- works, $14,000 elecDaviess County, Mo. No Bonds to Be Issued. Wo are tric-light and $12,000 telephone
4J^% debentures to Wood,
advised tliai no bonds will be issued to paj' for the $75,000 Gundj' it Co. of Toronto! Maturity
twenty years.
court house :iuthorized at the election held on Dee. 16 1905
Gainesville, Fla.
Bonds Not Sold. We are informed that
but t^at the cost of the new building will be met by a direct
no sale was made of the $65,000 5% gold coupon bonds
tax.
offered on Feb. 5.
See V. 82, p. 175, for description of
Delaware County (P. O. Delaware), Ohio. Bond Sale.
securities.
following
The
bonds were awarded Feb. 14:
Gallipolis, Ohio.
Bond Sale. This city on Feb. 19
$38,200 4% read bonds awarded to W. J. Hayes & Sous of Cleveland for $38,451
awarded an issue of $4,500 4% 10-year refunding bonds to
and accrued interest.
ditch
bonds
awarded to the Deposit Banklns; Co. ot Delaware, and the H. H. Henking of GallipoHs at 104.224.
20,400 4%
Following are the
A. B. Leach

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4^%

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Delaware Savings Bank Co.

of

Delaware

for S20,450

and accrued

interest.

25,000

4%

20.000 A7c
4.660

4%

tundlnp bonds awarded to
and accrued interest.
futidiii.; bonds
$20,or>,'5 and

W.

J.

Hayes

&

Sons of Cleveland for $25,165

awarded to the Deposit Banking Co. ot Delaware

tor

accrued Interest.
ditch bonds aw.arde<l, Sl,8G4 to W. J. Hayes & Sons of Cleveland for
$1,884 and $2,796 to the Deposit Banking Co. ot Delaware for $2,842.

For description of these

securities see V. 82, pages 232,

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bids:
H.H.Henklwr,

Gallipolis
$4,690 lOIBreed & H.irrison. Cincinnati.. $4,574
C. W. Henking, Gallipolis
4,042 001 W.J. Haves A Sons, Cleveland. 4,568
\ inton Banking Co., Vinton... 4,641 90 Security Savings Bank <fc Tr. Co 4 535
M.E.Beman
4.641 40 Hayden, Miller & Co., Cleve..
4,533
W. R. Todd & Co., Cincinnati.. 4,575 001

Denomination $500.

Date Feb. 26 1906.

70

00
00
75

Interest semi-

293 and 348.

annual.

Duluth, Minn.— fionds Voted.— The election Feb. 6 resulted
in a vote of 5.587 to 1,335 in favor of issuing the $375,000
30-year gold water and light bonds mentioned in V. 82,
p. 115.

No 2 Bo7tds Refused.
— We are advised that the attornevs for
N. W. Harris & Co.

Grand Island (Neb .) School

District

.

.

would not approve the legality of 'the $60,000 43^% schoolbuilding bonds awarded to that firm on Jan. 15 unless a new
election be held to correct defects in the first election. The
East Emporium, Cameron County, Pa. Bonds Voted.
sale, therefore, has not been consummated and the check of
At an election held Feb. 20 this borough sustained a propo- the Chicago firm
has been returned to them by the district.
sition to Lssue $7,000 4% 1-10 year (optional) sewer bonds
Greenville (Tex.) School Bistrict. —Bonds to Be Offered
by a vote of 277 to 103. Date of sale not yet determined.

4%

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Shortly.

— We

are informed that the $17,000 school-house

East Side (P. O. Olmstead), Minn. No Bids Loan from bonds, voted on Feb. 10, as stated on page 408 of last
No bids were received on Feb. 5 for $1,500 road and week's issue, will be offered for sale in about thirty davs.
bridge bonds offered by this town. We are advised that the Securities will carry
4% interest.
bonds were subsequently accepted by the State of Minnesota.
Guilford County (P. O. Greensboro) N. C.—Bond OfferDenomination $1.50. Interest annuallv in Julv. Maturitv
ing.
Proposals will be received until 2:30 p. m. March 5
150 yearly beginning in 1911.
by the Highway Commission, J. L. King. Chairman, for
Edgerton (Ohio) School District.— fiond Sale.— On Feb. $60,000 5% coupon highway improvement bonds. Denomi16 the S22,()()0 4% ll>|-year (average) coupon school- nations: fifty bonds of $1,000 each, nineteen bonds of $500
building bonds described in V. 82, p. 293, were awarded each and five bonds of $100 each.
Date June 1 1903.
to Spitzer & Co. of Toledo at 101.825.
Following arc the Interest semi-annually on Jan. 1 and July 1 at the office
bids:
of the County Treasurer.
Maturity June 1 1933. Coupons
Spitzer
pi
* Co., Toledo
$22,401 50 Hochler & Cummlntrs, Toledo. $22. 205 00
for interest up to and including Jan. 1 1906 will be detached
Albert Klevbollo
Co.. CIn.. 22,380 50 W. R. Todd & Co., Cincinnati. 22.IS5 00
from bonds; accrued interest from Jan. 1 required of purSea--iom;iin<l
Miyor, Cincln.. 22.260 92 Hayden, Miller .t Co.. Clcve.. 22.1.50
Fanihnni A ... IMeerton
22,259 00 W. J. Iliive.-i A- Sons, Clcve... 22.007 00
cliaser.
Each bid must be made on a blank form furnished
Weil, Uoih A
!., Cincinnati. 22,235 00 Edgerton State lik.. Kdircrtim 2
J ,000 00
\ew I'lrst N.it. bk., Columbua 22,231 00
by the [county and must be accompanied by a certified check
Slate.

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THE CHRONICLE.

470

for, drawn on a national bank and
to J. W. Fry, County Treasurer.
Bonds will
be certified to as to genuineness by the United States Mortgage & Trust Co. of New York City and their legality will

for 2'

;

of the

bonds bid

made payable

be approved by J. H. Caldwell, Esq., New York City, and
John N. Wilson, Esq., of Greensboro, and their opinions
The above
to that effect will be delivered to purchaser.
bonds are part of an issue of $300,000 authorized at election
May 12 1903, of which $125,000 have already been sold.
Honds outstanding at present, $125,000. Assessed valuation, $14,708,539.

District. — Bonds

Hanover

—

(Pa.) School
to Be Issued.
It
stated that the School Board on Feb. 7 decided to issue
$14,000 school-building bonds.

I

.

is

Mich. — Bonds

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Hastings, Barry County,
Voted.
Tliis city
on Feb. 15 voted in favor of issuing $35,000 improvement
bonds. The vote was 591 for to 80 against the proposition.
Hastings, Minn. Bond Election. The City Council has
decided to submit to a vote of the people the question of
i.ssuing $50,000 water-works and lighting-plant bonds.
Hattiesburg, Miss. Bond Offering.
Further details are
at hand relative to the offering on March 6 of the $200,000
4J/^% coupon public-improvement bonds mentioned on page
408 of last week's i.ssue. Proposals will be received until
7:30 p. m. on that day by John Williams, City Treasurer.
Bonds will be issued for the following purposes: $150,000
for street-paving, $35,000 for water- works and $15,000 for
sewerage.
Authority Sections 3014 to 3017 inclusive of

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Chapter 93, Code of 1892, as amended by Chapter 157, Laws
Denomination $500. Date March 6 1906. Inof 1904.
terest semi-annually at place optional with purchaser.
Maturity $500 yer^ly for nineteen years and the balance of
$190,500 in twenty years. Certified check for 2}^% of the
amount bid is required. Bonded debt at present $103,500.
Total assessed valuation 1905 $4,475,732 50.
Official advertisehient states that there is no controversy or litigation
threatened or pending affecting the validity of these bonds.

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Temporary Loan. This city has negoHaverhill, Mass.
tiated a loan of $50,000 with Loring, Tolman & Tupper of
Boston at 4.28% discount. Loan is dated Feb. 17 and will
mature Sept. 27 1906.
Helena, Mont.—Bond Sale.— On Feb. 19 the $266,800
43/2% refunding bonds mentioned in V. 82, p. 232, were
awarded to the Union Bank & Trust Co. of Helena for $775
prc'inium.

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Henderson, York County, Neb. Bonds Voted. This village on Feb. 13 authorized the issuance of $5,000 6%
5-20-year (optional) water-works bonds.
The vote was
53 for to 19 against.
Date of sale not yet determined.
Hereim (Town), Rosseau County, Minn. Bond Sale.
On Feb. 14 the $5,000 road bonds offered but not sold on
June 17 1905 (see V. 80, p. 2358) were awarded to Thorpe
Bros, at par for 6 per cents. Denomination $1,000. Date
Jvme 1 1905. Interest annual. Maturity June 1 1920.
Holton, Kan. Bond Election. An election will be held in
this city to vote on the question of issuing $80,000 water,
sewer and light bonds.
Homestead, Pa., School District. Bonds Defeated. -The
proposition to issue $150,000 high-school-building bonds
failed to carry at the election h(>l(l on Feb. 20.
Howard City, Montcalm County, ISLich.—Bond Election.
This city will vote at the spring election on the question of
issuing $25,000 bonus-fund bonds.
Howard County (P. O. Ellicott City), Md. Bonds Not
The issuance of $25,000 public road bonds
Yet Authorized.
We are informed that this matter will
is being considered.
not be decided definitely until after May 1.
Jackson, Mo. Bonds Registered and Sold. -The State
Comptroller on Dec. 28 registered an is.sue of $27,000 5%
water-works bonds. These bonds were awarded some
months ago to John Nuveen & Co. of Chicago for $28,160.
Denomination of bonds $1,000. Date Aug. 1 1905. Interest
Maturity Aug. 1 1925, subject to call after
semi-annual.
Aug. 1 1910.
Jefferson, Ohio.
Bond Issue Withdrawn from Market.
We are informed that the $3,000 5% Chestnut Street improvement bonds offered but not sold on Oct. 16 1905 (see
V. 81, p. 1002) have been withdraAvn from the market.

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Bond Bids.
Jefferson County (P. O. Dandridge), Tenn.
Following are the bids received on Feb. 15 for the $220,000
5% road-improvement bonds awarded, as stated on page
408 of last week's issue, to Hugh T. Inman, of Atlanta:

Union Sav.Rk.& Tr .Co., Cln. $228,810 50
SrasonKood Ik .Mayer. Clncln. 228,310 00
MacUoiiakl, McCoy <t Co. .Chi 227.820 00
Weil, Hoth & Co., Cincinnati 227,777 00
.Ino. Nuvoen & Co., Clilcaso. 227,575 00
00 New First Nat. Bk., Colunib's 227,500 00
Browne-Ellinwood Co., Chic. 229,237 00 F. L. Fuller & Co., Cleveland 227,500 00
Trowbridge &Nlver Co., Chic 228,997 50 Lamprccht Bros. & Co. .Cleve 227,480 00
$233,350
HuRhT. Inman, Atlanta
Provld.Sav.lJk. & Tr.Co.,Cln 233,200
N. W. Harris & Co.. ChicaKO- 233.000
W. J. Hayos & Sons, Cleve.. 232,700
Robln.son-Ihimphrey Co. and
Atlanta & Cln. Tr. Co., Cln.231,550

00
00
00
00

Bids for part of tlie bonds were also received from S. A.
of Chicago and from W, H. Gass of Knoxville.

Kean

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Johnsonburg, Pa. Bonds Voted. This borough on Feb.
20 by a vote of 207 to 152 authorized the issuance of $15,000
sewer bonds.
Keith and Lincoln Coimties Irrigation District (P. O.
Proposals will be reSutherland), Neb. Bond Offering.
ceived until 5 p. m. April 2 by James Shoup, Secretary, for

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[Vol. Lxxxn.

6%

bonds.
Denomination $100. Interest March
beginning Sept. 1 1900.
Maturity on March
1 as follows:
$3,300 in 1911, $3,900 in 1912, $4,600 in 1913,
$5,200 in 1914, $5,900 in 1915, $0,500 in 1910, $7,200 in
1917, $8,500 in 191S, $9,800 in 1919, $10,100 in 1920.
Laramie, Wyo. Dale of Bond Election. March 20 has
been fixed upon as the date upon which the propo.sition to
issue the $80,000 water bonds mentioned in V. 82, p. 409,
will be submitted to the people for approval.
Lawrence, Mass. Temporary Loan. A loan of $100,000
was recently obtained from Bond & Goodwin of Boston at
4.34% discount. Loan is dated Feb. 17 and will mature

$05,000
1

and Sept.

1

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Oct. 17 1900.

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Leetonia, Columbiana Coimty, Ohio. Bonds Defeated.
This village on Feb. 20 by a vote of 143 for to 178 against
defeat(,'d the jjroposititjn to issue $45,000 sewer bonds.
Lititz, Pa.
Bonds Voted. It is stated that this borough
on Feb. 20 authorized the issuance of $40,000 water-works
bonds by a vote of 226 to 61
Lockport, N. Y. .Vo Action Yet Taken.
We are advi.sed
that no definite action has 5'et been taken in the matter of
issuing tlic water-works bonds mentioned in V. 81, p. 1867.
Long Beach, CaL Bond Offering. Proposals will be received until 12 m. March 5 by G. W. Hargis, City Clerk,
for $16,000 5% coupon pier-repair bonds.
Authority Chapter 32, Laws of 1901.
Denomination $.500. Date Feb. 1
1906.
Interest .semi-annually at the office of the City
Treasurer.
Maturity two bonds yearly, beginning Feb. 1
1907, bonds being subject to call at any time.
Certified
check for $500, drawn on some bank in the State and payable
to the City Treasurer, required.
Bonds are tax exempt.
Bonded debt, including this issue, $216,000. Assessed valuation for 1905, $4,600,000.
Los Angeles, Oal. Bond Election Proposed. The FireCommissioners recommend that the City Council call a special
election to vote on the question of issuing $250,000 bonds for
the purpose of erecting engine houses.
Los Angeles City High School District, Los Angeles
County, Cai.— Bond Sale.— On Feb. 19 the $260,000
1-20-year (serial) bonds described on page 409 of last week's
issue were awarded to Adam.s- Phillips Co. of Los Angeles
for $261,720.
Los Angeles City School District, Los Angeles County,
Cal.
Bond Sale. This district on Feb. 19 awarded the $520,000 4% 1-40-year (serial) bonds described on page 409 of
last week's issue to the
Security Savings Bank of Los
Angeles for $527,560.
Louisville, Ky.
Bonds Proposed. A bill providing for an
election to vote on tbe issuance of sewer-system bonds has
been introduced in the State Senate.

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Luverne, Rock County, Minn. Bond Sale. On Feb. 10
coupon bridge bonds mentioned in V. 82, p.
the $1,000
233, were awarded to the First National Bank of Luverne at
100.50 and accrued interest.
Securities are dated Feb. 20
1906.
Madison, Wis. Bonds Proposed. According to local reports the Board of Education on Feb. 6 passed a resolution
petitioning the Common Council to issue $30,000 schoolbuilding bonds.

6%

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Manassas, Va. Bond Election. An election will be held
March 24 to vote on the question of issviing $50,000 water,
light and street-improvement bonds.
Mansfield (Ohio) School District. Bond Offering.
Proposals will be received until 12 m. March 8 by W. C. Mowry,
Clerk of the Board of Education, for the' $18,000 43^%
school-building bonds mentioned in V. 81, p. 1572.
Authority Sections 3991 and 3992 of the Revised Statutes.
Denomination $1,000. Date March 15 1906. Interest semiannual.
Maturity one bond every six months from March
Bids must be made on
15 1916 to Sept. 15 1924 inclusive.
blank forms furnished by the Board of Education and must
be accompanied by a certified check on a local bank for 10%
of the bonds bid for, payable to the Clerk of the Board of
Education. All conditional bids will be rejected and bidders
must satisfy themselves as to the legality of the bonds before

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bidding.

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Marion, Ohio. Bond Sale. On Feb. 21 the Sinking Fund
Trustees awarded $4,500 414% Mt- Vernon Avenue paving,
$1,250 41^% fire-station, $2,500 4^^% Silver Street paving
and $1,000 4% Silver Street outlet bonds to W. R. Todd
& Co. of Cincinnati for a premium of $367 for the entire lot.
These bonds formed part of the securities held in the sinking
fund as an investment.
Bond Offering. Proposals will be received until 3 p. m.
March 17 by S. T. Quigley, City Auditor, for the following bonds:

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$30,000
9,500

4%
4%

park bonds. Maturity SI, 500 each six months from March 1 1916 to
Sept. 1 1925 inclusive. Certified check for $1,000 required.
March 1 1926 to
nM;
ark bonds. Maturity $1,500 each six months from
Certified check for
epf. 1 1928 Inclusive and SjOO on .March 1 1929.
$500 required.

Authority Sections 2835. 2836 and 2837 of the Revised
Denomination $500. Date Feb. 1 1906. Interest March 1 and Sept. 1 at the Cit}'- Treasury.
Marmora, Ont.— Debenture Sale.— On Feb. 12 the $5,500
sidewalk debentures described in V. 82, p. 233, were
awarded to Geo. A. Stimson & Co., of Toronto, for $5,516.
',. '. '.
Following are the bids:
_,
.. .j__
Statutes.

4H%

THE CHRONICLE.

Feb. 24 1906
Geo. A.Stlmson

Co., Toronto$5,516 OOlWm. C. Brent, Toronto
5,455 00| Canadian Sec. Co., Ltd
Toronto

&

H.O'Hara& Co.,

$5,454 fiO
5,437 00

Bonds mature part yearly for twenty years.
Milledgeville, Ga,.— Bond Sale.— On Feb. 6 the .$20,000
5% 1-20-year (serial) gold coupon sewer bonds described in
V. 82, p. 176, were awarded to Seasongood & Mayer of Cincinnati at 104.668, accrued interest and blank bonds.
Milwaukee, Wis. Bonds Not Sold. No bids were received
on Feb. 21 for the $150,000 S}4% 1-20-year (serial) coupon
viaduct bonds dated Jan. 1 1906 and described in V. 82,
p. 409.
Monroe County (P.O. Woodsfield) Ohio. Bo7id Offering.
Proposals will be received until 12 m. March 19 by the
County Commissioners for the $135,000 33^% court-house
bonds mentioned in V. 82, p. 176. Denomination $1,000.
Date April 1 1906. Interest semi-annually at the County
Treasury. Maturity $7,000 every six months from April 1
1907 to Oct. 1 1915 inclusive; $5,000 April 1 1916 and $4,000
Oct. 1 1916
Certified check for 5% of amount bid, payable
to the County Treasurer, required. Purchaser or purchasers
to prepare all papers for record and engrave and lithograph
Bonds will be delivered
the bonds at their own expense.
April 20.
Monroe Union School District No. 1, Wis. Bonds to Be
Offered in Part.
We are informed that the School Board
has decided to dispose of $20,000 of the $40,000 4% school
bonds mentioned in V. 81. p. 1134. These bonds will
probably be taken by local people. The remaining $20,000
bonds will not be put on the market until the money is
needed. Securities are dated Feb. 1 1906.

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,

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Monrovia (Cal.) School District. Bond Election. The
School Trustees have called an election Feb. 26 to vote on
If
the question of issuing $28,000 school-building bonds.
voted favorably these bonds will bear 5% interest and be in
the denomination of $1,000.

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Montgomery, Mo. Bonds Voted. A recent election resulted in favor of a proposition to issue $5,500 water-works
bonds.
Morris (Minn.) School District. Price Paid for Bonds.
We are advised that the price paid by the State School Fund
for the $6,000 4% refunding bonds mentioned on page 409 of
Date
Denomination $1,000.
last week's issue was par.
Feb. 7 1906. Maturit}^ one bond yearly.
Mount Vernon, N. Y. Bonds Proposed. A bill was recently introduced in the State Legislature providing for the
issuance of $30,000 bridge bonds.
Muskegon Heights, Mich. Bonds Voted. ^The election
Feb. 19 resulted in a vote of 158 for to 74 against in favor of
the proposition to issue $40,000 water-works bonds at not
exceeding 5% interest.
Nashville, Tenn.
Bond Election Probable. Local papers
state that a special election will probably be held on May 3
to vote on the question of issuing $150,000 street-extension
bonds.
Nevada (Mo.) School District. Bonds Voted Bond Offering.
Tliis district on Feb. 16 carried a proposition to issue
$50,000 school-building bonds by a vote of 1,229 to 95. We
are informed that proposals for these bonds will be received
until 7:30 p. m. March 10 by the Board of Education.
New Rochelle, N. Y. Bond Offering. Proposals will be
received until 8 p. m. March 6 by Charles Kammermeyer,
City Clerk, for $65,000 4% registered school bonds.
Denomination $1,000. Date March 15 1906. Interest semiannually on May 1 and Nov. 1 at the office of the City
Maturity $5,000 on May 1 1910 and $4,000
Treasurer.
yearly on May 1 from 1911 to 1925 inclusive.
Bonds will be
certified to as to their genuineness by the United States
Mortgage & Trust Co. of New York City. Accrued interest
to be paid by purchaser. Bids to be made on printed forms
furnished by the City Clerk. Certified check for $2,000 on
some bank or trust company in New York State, payable to
the City Treasurer of the City of New Rochelle, required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this department.
Bond Sale. This city on Feb. 13 awarded
Niles, Ohio.
an issue of $4,000 4}/2% electric-light-improvement bonds
to Breed & Harrison of Cincinnati at 102.90. Denomination
$1,000. Date Dec. 1 1905. Interest semi-annual. Maturity
one bond on Dec. 1 in each of the years 1908, 1909, 1911 and

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—

—

—

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—

1912.
Norfolk, Va.
Bonds Authorized. According to local reports the Select Council on Feb. 13 authorized the issuance
of $149,000 funding bonds.
North Toronto, Ont. Debenture Sale. The following
debentures were awarded on Feb. 1 to H. O'Hara & Co. of

—

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—

Toronto:
$2,004 00

i'A%

1.818 84

4H%

5,877 10

4Vs%

.sldr-walk dt-bonturcs sold for .S2.0B7 .and interest.
yearly on Sept. I'J from l!)Or, to 10!.") Inclusive.
water debentures .sold for -Si, 821 i)4 and interest.
yearly on Nov. 7 from 190ii to 11115 Inclusive.
water debentures sold for $5,990 50 and Interest.
yearly on Sept. 19 from 1900 to 1915 inclusive.

Norwood, Pa.—Bo7id

Maturity part
Maturity part
Maturity part

Not Held.— The proposed
election Feb. 20 to vote on the ((uestion of issuing $35,000
street and .sewer bonds was not held, as the Burgess vetoed
the ordinance, submitting the proposition to a vote. Local
Election

471

reports state that the matter will probably come up again
in the Borough Council in March.
Onondaga County (P. O. Syracuse), N. Y. Bonds to Be
Re-Offered.— We are advised that the $400,000 3J^% courthouse bonds offered without success on Feb. 14 (see page
410 of last week's i.s.sue) will probably be re-oflfered as four
per cents.

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County, Ore. Bond Election. On
on the que.stion of issuing $26,000
10-20-year (optional) sewer and drainage-system bonds r.t
not exceeding 5% interest.
Further details are at
Osceola, Ark. Bond Offering.
hand relative to the offering on March 3 of the $34,000 5%
coupon water-works bonds mentioned on page 410 of last
week's issue. Proposals will be received until 10 a. m. on
that day by L. A. Main, Secretary of Board of Improvement.
Denomination $500. Date March 3 1906. Interest annually
Bonds are tax-exempt.
in Osceola.
Maturity 20 years.
Certified check for $500, payable to the Board of Improvement, required. Bonded debt, this issue. Assessed valuation
1905 $175,000.
The official notice of this bond offering will be found among
Ontario,

March

Malheur

3 this city will vote

—

—

the advertisements elsewhere in this department.

Paris

(111.)

—

Union School District.—Bond Election. A spebe held on Feb. 26 to vote on the question of

cial election will

issuing $30,000 high-school-building bonds. It is said that
similar propositions have been twice submitted to a vote of
the people and defeated.

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Pasadena City School District, Cal. Bond Offering. Proposals will be received until 2p.m. March 12 by the Board of
Supervisors, C. G. Keyes, Clerk, for the $150,000
schoolbuilding bonds, mention of which was made last week. Denomination $5,000. Date March 12 1906. Interest annually
at the office of the County Treasurer.
Maturity $5,000
yearly from March 12 1910 to March 12 1939 inclusive. Certified check for
of the bonds bid for, payable to the Chairman of the Board of Supervisors recjuired.

4%

3%

—

Passaic County (P. O. Paterson), N. J. Bonds Authorized
Bond Offering. The Finance Committee of the Board
of Freeholders has decided to is.sue $130,000 bridge-repair
bonds. Proposals for these bonds, it is stated, will be received
until March 6. Thev are dated April 1 1906 and will mature
$65,000 in 19 and $65,000 in 20 years.

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Patchogue,'N. Y. Bond Offering. Proposals will be received until 8p.m. Feb. 28 by Joseph T. Losee, Village Clerk,
for the $16,000 street-improvement bonds voted on Nov. 14.
Interest not to exceed 5%.
Denomination $1,000. Date
April 1 1906. Interest Jan. 1 and July 1. Maturity one bond
yearly beginning Jan. 1 1910. Certified check for 10% of the
bonds, payable to the Village Treasurer, required. Bonded
debt, including this issue, $48,000.
Assessed valuation
1905 .$2,636,600.

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Pensacola, Pla. Bond Offering.
Proposals will be received until 12 m. March 28 by the Board of Bond Trustees,
L. Hilton Green, Chairman, for $300,000 4J^% improvement

bonds of this city. Securities are part of an issue of $750 ,000
bonds voted at the election held Aug. 22 1905. The legality
of the bonds will be approved by Messrs. Dillon & Hubbard
of

New York
The

City.

official notice of this

bond offering will be found among
department

the advertisements elsewhere in this

—

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Philippine Islands. Bonds Bids.
The following bids
were received Feb. 15 for the $1,000,000 4% 10-30-year
(optional) gold registered public-works bonds awarded, as
stated on page 410 of last week's issue, to the Higgs National

Bank

of

Washington

at 108.3747:

Rigcs National Bank, Washing'n

Mercantile Trust Co., St. Louis.
All or any part..
107.8127
For all
106.85
All or none
...108.37471
For any part..
100.53
Guar. Trust Co., N. Y., and
Kountze Bros., New York..
105.071
X. W. Harris & Co., New York.
IGeo. Nichols, Rome (for $5,000
I

I

Allornone

.106.884

—

1

bonds)

10J.125

—

Pomona, Cal. Bonds Proposed. The Board of Trade
recommends the issuance of $25,000 city-hall, $15,000 firedepartment, $25,000 school-building and $5,000?kindergart('ii-l)uilding bonds.
Poplar Bluff, Mo. Bond Offering.
Proposals will be received until 8 p. m. March 5 by Wm. A. Spence, City Clerk,
for $20,000 4% coupon refunding water-works bonds.
Autlioritv Section 5820, Article 4, Chapter 91, Revised Statutes
of 1899. Denomination $500. Date April 2 1906. Interest
semi-annual!}' at the Bank of Poplar Bluff. Maturitv April

—

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1916, subject to call after April 2 1911. Certified clieck for
$100, payable to the City Treasurer, required. Bonded debt,
including this i.ssue, $34,000.
Asses.sed valuation 1905
$1,343,003.

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Porterville, Tulare County, Cal.
Bonds Defeated. The
propo.sition to issue $50,000
20-year water-works bonds
mentioned in V. 82, p. 234, was defeated on Feb. 12 bj- a
vote of 98 for to 93 against two-thirds vote being nece-ssary
to authorize.

5%

—

Portland, Ore.

—Bond Offering. — City Auditor Devlin

receive bids until 2 p.

improvement bonds.

m. Feb. 26

for

$40,884 98

6%

will

street-

.

THE CHRONICLE.

472

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Bonds Sold in Part Offering Conarc advi.si'd that on Fob. 21 a portion of the;
$89,000 33^% 20-year rogisUired refunding bonds mentioned
on page 411 of last week's issue was disposed of at par and
interest.
We are also informed that the City Chambcsrlain
will continue to receive bids for another week.
Poughkeepaie, N. Y,

tinued.

— Wo

— Temporary

Quincy, Mass.

—

Loan. It is stated that this
from Bond & Goodwin of Boston
about 4.25% discount.
Redondo, Oal. Bonds Voted. The' election Feb. 12 resulted in favor of the propositions to issue the $80,000 septicoutfall-sewer bonds and the $20,000 city-hall bonds mentioned in V. 82, p. 350. The vote on the first-mentioned issue
was 119 to 37 and on the second 192 to 40.
city recently borrowed
$50,000 for one year at

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Reno County, Kan. Bond Election Proposed. Petitions
are being circulated asking the County Commissioners to call
an election to vote on the question of issuing $150,000 4J^%
20-year bonds in aid of the Gulf Hutchinson & Northwestern
Railway

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Rhinelander, Wis. Bonds Authorized. The Common
Council on Feb. 6 passed an ordinance providing for the
issuance of $12,000 5% coupon street-improvement bonds.
Denomination $1,000. Date March 1 1906. Interest semiannually at the Corn Exchange National Bank in Chicago.
Maturity $3,000 yearly on March 1 from 1907 to 1910 inclusive.

—

Bonds Authorized. The Common Council on Feb. 6
passed an ordinance providing for the issuance of $25,000 5%
coupon school-building bonds. Denomination $1,000. Date
April 1 1906. Interest semi-annually at the Corn Exchange
National Bank in Chicago.
Maturity $5,000 yearly from
April 1 1910 to April 1 1914 inclusive.

—

Rhode

—

November.

—

Rockingham Township, RockinghatnT County, N. C.
Bond Sale. This township on Feb. 5 awarded the $15,000

—

30-year coupon road bonds described in V.|82, p. 118,

NEW

NEW

LOANS.

—

Commissioners' Corporate Bonds. City of

—

—

—

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« 1,000,000
Sealed proposals will be received until four o'clock
THE TWENTY-FIRST
&. m., on WEDNESDAY.
AY OF MARCH, A. D. 1906, at the office of the
West Chicago Park Commissioners, Union Park,
Chicago, Illinois, for the purchase of corporate bonds
of the West Chicago Park Commissioners, amounting
to the sum of One Million Dollars ($1,000,000) for
Small Park purposes and One Million Dollars ($1,000,000) for Improvement and Maintenance purposes,
with the accrued Interest thereon to date of safe. Both
issues are twenty-year serial bonds tn denominations
of One Thousand Dollars ($1,000) each, with interest
at the rate of four (4) per cent per annum payable
semi-annually, on the first days of April and October
of each year, and the principal of each issue payable
at the rate of Fifty Thousand Dollars ($50,000) annually, beginning with the first day of April 1907; both
principal and interest are payable at the office of the
Treasurer of the West Chicago Park Commissioners,
Chicago, Illinois. Said One Million Dollars of bonds
for Small Park purposes are Issued by the West Chicago
Park Commissioners in pursuance of and subject to
the provisions of an Act of the General Assembly of
the State of Illinois, entitled, "An Act to enable Park
Commissioners to issue bonds to raise funds for the acquisition and Improvement of small parks and pleasuregrounds, and to provide a tax for the payment of the
18 1905; and said One Million
Improvement and Maintenance

purposes are Issued by the West Chicago Park Commissioners In pursuance of and subject to the provisions of an Act of the General Assembly of the State
of Illinois, entitled, "An Act to enable Park Commissioners to issue bonds for the completion, improvement
and maintenance of public parks and boulevards under
their control, and to provide a tax for the payment of
the same," approved May 11, 1905.
The entire Issue of bonds authorized by said Act
relating to Small Parks Is One Million Dollars ($1 .000,000), and the bonds hereby offered for sale constitute
all of said Issue; and the entire issue of bonds authorized
by said Act relating to Imnrovement and Maintenance

bonds is Two Million Dollars ($2,000,000), and the
bonds hereby offered for sale constitute a portion of

.Said Issues of bonds, Including the existsaid Lssue.
ing Indebtedness of the West Chicago Paark Commlso
sloners and the West Park District, do not exceed the
constitutional limit of indebtedness of said Park District.

Further particulars will be furnished upon application to the Secretary of the West Chicago Park ComUnion Park, Chicago, Illinois. Promissioners at
posals must be addressed to "West Chicago Park Combe
missioners, Union Park, Chicago, Illinois." and

and "ProImprovement and Maintenance Bonds,"
and must be accompanied by certified check for two
(2) per cent of the amount of the bid, payable to the
order of the West Chicago Park Commissioners, separfor

made for each issue. Said bonds to
for and delivered at the oillcc of the Treasurer
No bids
of the West Chicaco Pari! Commissioners.
of less than par and accrued Interest will be considered,
ate bids bcinc

be paid

and the West Chicago Park Commissioners reserve the
any and all bids.

right to reject

WEST CHICAGO PARK COMMISSIONERS,
Chicago. February 20. 1906.

ECKHART,

15-40-

W.Phelps, Los Angeles
$15,257 001 Los Angeles Tr. Co., Los Ang.$15,125 00
Oakland Bk. of SaVgs, Oakl'd 15,205 001 N. W. Harris & Co., CHicago.. 15,117 25

Bonds are dated Feb. 12 1906.
Seattle,

Wash.

Interest annual.

—Bond Election. — We are advised that the

questions of issuing the $500,000 20-year park bonds mentioned in V. 82, p. 177, and the $600,000 20-year Ughtplant-extension mentioned on page 411 of last week's issue
will be voted on at the general election on March 6.

NEW

LOANS.

New

Rochelle, N. Y.,

LOANS.

City Clerk.

^34,000
OSGEOCiA, ARKANSAS
5%

Presidcnl.

STATE OF ALABAMA,
Renewal Bonds.

CHARLES KAMMERMEYER.

20 -Year Waterworks Bonds

Sealed bids will be received by the Board of Improvement at Osceola. Ark., until ten o'clock a. m.
3RD, 1906, for $34,000 00 worth of 5%
20-year waterworks bonds.
The Board of Improvement reserves the right to
Address.
reject any and all bids.
_

Classes A and B, aggregating
$7,437,600, maturing July 1st, 1906.
Character of Bonds: Fifty-year bonds. In denominations of either $500 or $1,000, said bonds to be
coupon or registered, at the option of bidder; Interest
payable semi-annually, if registered bonds. In Mont-

Bonds

to be renewed:

gomery, Alabama, and if coupon bonds in New York
City. Bids for entire Issue, or any part thereof, not
less than $1,000. are Invited upon the following terms:
1. Upon bonds bearing 3H per cent per annum;
2. Upon bonds bearing 4 per cent per annum.
A certified check, payable to the order of the Governor
of Alabama, for five per cent of the amount bid for.
must accompany each bid. For the bids that are accepted, other security, approved by the Governor, may
be substituted for the certified check. The certified
check accompanying rejected bids will be returned,
with notice of rejection. The 5 per cent of each accepted bid will, on failure of bidder to comply with
terms of his bid, be forfeited to the State.

• The entire amount of each accepted bid, or so much
may remain unpaid, must be paid in lawful money
of the United States, or in Ueu thereof an equal amount
sixty
of Alabama bonds which are being refunded
days before the maturity of the present bonds, into

as

—

such depository as may be designated by the Governor
or in lieu of the above designated payment such guaranty as the Governor may approve.
No bid offering less than par will be considered.
The State reserves the right to retire present bonds to
an amount not exceeding $600,000. Bids will be received at the Governor's office at Montgomery until 12
15TH. 1906.
o'clock M.. THURSDAY, MARCH
and will be opened immediately. Notice of acceptance
or rejection will be given each bidder by letter mailed
n Montgomery, not later than March 20, 1906. Envelopes containing bids must be addressed to the
Governor of Alabama, and have conspicuously written
thereon "Bids for Renewal Bonds, State of Alabama."
The State reserves the right to reject any and all bids.
For further information, apply to the Govemorlot

Alabama.

•

WM.

MARCH

-j

D. JELKS,
Governor.

BOARD OF IMPR6VEMENT.

OSCEOLA. ARK.

Perry, Coffin
MacDonald, McCoy
MUNICIPAL

AMD

&

Co.,

CORPORATION

BONDS.

endorsed "Proposal for Small Park Bonds

A.

be

will

5%

Santa Monica City School District, Los Angeles County,
C&l.— Bond Sale.— On Feb. 12 the $15,000 43^% 1-10-year
(serial) school-building bonds voted on Dec. 9 (see V. 81,
p. 1809) were awarded to J. W. Phelps of Los Angeles for
The bids were as follows:
$15,257.

MARCH

For Improvement and Maintenance Purposes.

By B.

—

San Marcos, Tex. Bond Offering. Proposals
received by J. R. Porter, Mayor, for $12,500
year (optional) city bonds.

School Bonds.

JOSEPHIF.lHAAS.Sfcrcwri/

—

Salem, Ohio. Bonds Proposed. The Sinking Fund Trushave requested the City Council to authorize the issuance of $10,000 refunding bonds.
tees

SealedTproposals'will be received by the undersigned
until Tuesday evening,
6. 1906. at 8 o'clock,
for the purchase of all or any part of $65,000 Registered
4 per cent School Bonds, series of 1906, of said City,
of $1,000 each, dated March 15, 1906, and maturing
five (5) bonds on the 1st day of May, 1910, and four (4)
bonds annually thereafter, commencing May 1, 1911.
Interest payable semi-annually on the 1st days of
May and November: principal and interest payable at
the office of the City Treasurer.
Each proposal must be accompanied by a certified
check on an Incorporated bank or trust company in
the State of New York for $2,000, payable to the order
of the City Treasurer of the City of New Rochelle.
Bonds will be engraved under the supervision of
and certified as to their genuineness by the United
States Mortgaee & Trust Company.
No bid of less than par value of the bonds will be
considered. Bidders must use the prhited form of
proposal furnished by the undersigned. Accrued interest to be paid by the purchaser, and delivery will be
made at the office of the City Treasurer in New Rochelle
on the 15th day of March, 1906.
The right is reserved to reject any or all bids.
Dated. New Rochelle, N. Y., February 15, 1906.

for

—

St. Louis, Mo.
Bond Ordinance Killed. Local papers
state that the City Council on P'eb. 16, by a unanimous vote,
laid on the table the bill submitting to a vote of the people
propositions to issue $11,000,000 bonds for various purposes.
This action was taken because the City Council and the
House of Delegates (the two municipal bodies) could not
agree as to the manner of submitting the question of issuing
bridge bonds to a vote, one branch of the government favoring a separate vote on this proposition and the otljer desiring
to submit all the proposed bond issues to popular vote en bloc.

For Small Park Purposes.

May

—

St. Johns (Wash.) School District.
Bonds Defeated.
This district recently voted against a propo.sition to issue
bonds for school purposes.

jeii,ooo,ooo

same," approved
Dollars of bonds

—

Rosalia (Wash.) School District. Xo Action Yet Taken.
are advised,,that no action luis yet been taken in the
matter of issuing the $12,000 10-20-year (optional) schoolhouse bonds voted on Nov. 11. See V.'^Sl, p. 1573.

We

#6^,000

West Chicago Park

posal

to C. A. Webb & Co., of Asheville, for $16,525 accrued
interest and blank bonds.

J.

Island. Bonds Authorized by Legislature.
The
State Legislature has passed a bill authorizing the issuance of
the $600,000 highway bonds voted at the election held last

6%

[Vol. lxxjoi.

171

F.

La

R.

Burr,

INVESTMENT BONDS.
60 State

Street,

BOSTON.

Salle Street, Chicago.

FULTON & CO.,

Municipal Bonds.
171

&

LA SALLE STREET.

CHICAGO.

MUNICIPAL AND RAILROAD
BO«VDS.
LIST ON APPLICATION.

SEASONGOOD & MAYEE,
jaercantlle Library Balldlnct

CINCINNATI.

Feb. 24

THE CHRONICLE.

1906.1

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—

Temporary Loan. The City Treasurer
Springfield, Mass.
recently borrowed $200,000 from Blake Bros. & Co. of Boston at 4.14% discount. Loan is in anticipation of the collection of taxes and matures Nov. 5 1906.
We have
Stroud, Lincoln County, Okla. Bond Sale.
20-year electric-light
just been informed that the $4,000
30-year water-works bonds offered on
and the $18,000
Feb. 1 were disposed of to P. S. Hoffman of Chandler at 101.
Denomination $1,000. Date Feb. 1 1906. Interest Feb-

Shawnee, Okla. Bond Election. The City Council, it is
stated, has ordered an election to vote on the question of
issuing $70,000 sewer and $15,000 school-house bonds.
On Feb.
Shelby, Richland County, Ohio. Bond Sale.
1-10-year (serial) coupon public-library
21 the $2,500
bonds described in V. 82, p. 295, were awarded to the Daj'-ton
Savings & Trust Co. of Dayton for $2,538.

—

4%

—

District

—

South Ca,ro]ina,.—Legislation. The following
ures are before the State Legislature:

—

ruary and August.
Sudbury, Ont. Debenture Sale. We have just been advised that the $23,500 43^% school debentures offered on
Dec. 20 1905 (see V. 81, p. 1749) were awarded on Dec. 29 to
Geo. A. Stimson & Co. of Toronto at 99.004. The bids were

—

bond meas-

as follows:

Geo. A. Stimson"& Co., Tor'to $23,266 001 Wood. Gundy & Co., Toronto. 822,800 00
23,241 85 Canadian Securities Co., Ltd.. 22,263 00
H.O'Hara& Co., Toronto
22,909 00
Wra. C. Brent, Toronto

Authorlzins town to issue improvement bonds.
Fountain Inn Authorizing election on bonds.
Lake City Authorizing municipal bonds.
Swansea, Lexington Counts'— Authorizing bonds for school purposes.
Carlisle

——

—

An
Sullivan County (P. O. Milan), Mo. -Bond Election.
election will be held on April 24 to vote on the question of
building a new court-house to cost $75,000.
Tampa, Fla. Bonds Proposed. The question of issuing
bonds for the purchase of the water-plant of the Tampa

BILLS PASSED BY HOUSE.

—

Abbeville
Authorizing city to subscribe to capital stock of any .railroad building
rom Abbeville to or through Due West.
FalrQekl County Authorizing funding bonds.
Horry County Authorizing court-house bonds.
McColl School District, Marlboro County Authorizing bonds.
Pickens County^Authorizing loan to pay debts.
Saluda Authorizing town to subscribe to capital stock of the Johnston Saluda
Greenwood & Anderson Railroad Co.
Summerton School District Authorizing bonds.

—

•

—

—

—

—

Water Works Co. was recently discussed by the City Council.

We are informed, however, that no definite action has yet
been taken by the Council and that none is likely for some

—

BILLS PASSED

BY SENATE.

—

Newberry County School District No. 52 Authorizing building bonds.
Authorizing buildSt. George Special School District No. 5, Dorchester County
ng bonds.
^Impsonville School District No. 6. Greenville County Authorizing school bonds.
Swift Creek Special School District No. 8. Darlington County Authorizing
17.

Saluda County

—Authorizing school bonds.

—

BILLS PASSED BY BOTH HOUSES OF LEGISLATURE.
Cowpens School District No 50, Spartanburg County Authorlzingibuildlng bonds.
.

Fairfax Special School District,
Hill School
District No.
Holly
_
_..
„
._....
,.
Lake City School District No.
.

.

Barnwell County

—

—Authorizln
—
"

,

$5,000 bonds.

Authorizing bond election,
Berkeley County
18,
.. „,..,,
,
_
Authorizing building
14, Williamsburg giiounty

bonds

—

Lancaster County School District No. 40 Authorizing $12,000 bonds.
School District No. 5, Dorchester County Authorizing

St. George Special
building bonds.

Summerton School

District

No.

Clarendon County

12,

—
—Authorizing

—

building

bonds.

Sumter County— Authorizing $39,000 court-house bonds.

—

South Omaha, Neb. Bonds Voted. ^Bya vote of 1,108 to
501 this city on Feb. 15 authorized the issuance of $250,000
sewer bonds.

NEW

NEW

LOANS.

—

Temple, Tex. Bonds Proposed. The School Board has
requested the City Council to issue $20,000 school-improvement bonds.
Bond Sale. We are advised by wire that
Tiffin, Ohio.
the $67,000 4% coupon refunding bonds offered yesterday
(Feb. 23) were awarded to Lamprecht Bros. & Co. of Cleveland for a premium of $743 75. These bonds ai'e described
in V. 82, p. 236.
No Bonds at Present.
Titusville (Pa.) School District.
We are advised that the question of issuing the $70,000 highschool-building bonds mentioned in V. 82, p. 119, has been
dropped for the present.
Proposals will be
Troy, N. Y. Revenue Bond Offering.
received until 11 a. m. March 3 by Hiram W. Gordinier, City

—

•

Ward's School District No.

time.

—

—

building bonds.

—

INVESTMENTS.

LOANS.

S300,000

H,

PENSAOOLA, FLORIDA, city
V

—

5%

5%

No. 17), Wash.

Bo7id
On Jan. 19 this district disposed of $1,000 school
Sale.
bonds to the State of Washington at par for 43^ per cents.
Denomination $500. Date Jan. 19 1906. Interest annual.
Maturity Jan. 19 1916, subject to call after one year.

Skamania County (School

473

of St. Paul, Minn.,

W. NOBLE & COMPANY,

Penobscot Bldq.,

Land-Title Bldq.
Philadelphia.

Detroit.

43^% Improvement Bonds.

4% 30-YEAR BONDS.

MUNICIPAL

Sealed bids will be received by the Board of Bond
Trustees of the City of Pensacola, Florida, from Feb28, 1906, at 12 o'clock
ruary 26. 1906, imtil
noon for the purchase of all or any part of $300,000 4M
per cent Improvement Bonds of the City of Pensacola,
The legality of the bonds will be approved
Florida.
by Messrs. Dillon & Hubbard of New York. Further
particulars with reference to said bonds and blank forms
lor bids can be had on application to the undersigned
or to the United States Mortgage & Trust Company.

City Comptroller's Office,
February 9, 1906.
SEALED PROPOSALS will be received at the office
of the City Comptroller by the Sinking Fund Committee
28TH, 1906,
until 12 o'clock noon on
and opened at that time, for the purchase of One
Hundred and Fifty Thousand ($150,000 00) Dollars of
bonds of the City of St. Paul. Minnesota, the proceeds
of which are to be used tor the purpose of aiding In
the construction of a Municipal Building, to be occupied
by various city departments. These bonds are Issued
pursuant to Ordinance No. 2561, passed by the Common
Council and approved February 5th, 1906, authorized
by Chapter 304 of the Laws of Minnesota for 1903,
approved April 20, 1903
Bonds to be In the denomination of five hundred or one thousand dollars each,
as the purchaser may desire, with coupons attached,
and dated March 1, 1906, and mature February 28th,
1936. They bear Interest at the rate of four (4%) per
cent per annum, payable semi-annually. Interest and
principal payable at the Financial Agency of the City
Delivery of bonds to be
of St. Paul in New York City.
made at the Comptroller's office, where payment must
be made by the successful bidder. A certified check
payable to the City Treasurer of the City of St. Paul
for two (20) per cent of the par value of the bonds bid
for must accompany each bid that will be considered.
Bids will be received tor all or any part of the lot. The
Committee reserves the right to reject any and all bids.
Proposals to be marked "Bids for Municipal Building
Bonds," and addressed to

PUBLIC SERVICE CORPORATION

MARCH

New

York.
L.

HILTON GREEN,
of Bond Trustees,
Pensacola, Florida.

Chairman Board

St. Paul,

AND

BONDS.

FEBRUARY

Rudolph Kleybolte&Co.
BMHKERS,

.

J^400,000
JACKSONVILLE,

FLA.,

5% Improvement Bonds.
Sealed proposals will be received by the undersigned
of Bond Trustees of Jacksonville, Florida, until
1906, at three o'clock p. m., tor the purchase
of all or any part of $400,000 five per cent Improvement
COonds of the city of Jacksonville, Florida. The legality
of the bonds will be approved by Messrs. Dillon & Hubbard of New York. Printed circulars containing more
definite Information with reference to said bonds and
blank forms for bids can be had on application to the

Board

MARCH 5,

Public

Service

Wire ua your

BONDS.

Chicago.

MACARTNEY & SCHLEY

B.

MUNICIPAL

CORPORATION

San Francisco.

Albert Kleybolte

&

Co.,

Street,

CINCINNATI,

O.

Carefully Selected

BONDS. MUNICIPAL BONDS
And other High-Grade

ITS Waahington Street,

CHICAGO,

^

New York

Stock Exchange,

"®°'"^ ^Philadelphia

Stock Exchange.

INVESTMENT.

4S Exchange Place,
New York.

Drexel Building,
Philadelphia.

Blodget, Merritt

POTTER,
and

COMPANY,

MOBIJLE, AL.A.

409 Walnut

T

8c

BONDS FOR

Oflerlng.

BOSTON.
Denrer.

on Oallvand Tim* Deposits.

BANKERS & BROKERS

ROLLINS & SONS.

E. H.

TOBK.

BANKERS,

Mobile City Bonds
Uealt iu by ub.

Corporation

Intarast Paid

ERVIN
Alabama State Bonds

AND

BONDS.
87-89 FINE STREET, NEW

LOUIS BETZ,

of the Board of Bond Trustees. Jacksonville.
Florid a, or to Messrs. Dillon & Hubbard of New York.

MUNICIPAL

STREET RAILWAY

City Comptroller.

Auditor

B. F. DILLON,
Chairman of Board of Bond Trustees

MUNICIPAL, RAILROAD and

.

LIST UN APPL.ICATION.

Investment

IJLLS.

Securities.

Full deBorlptions, sIiowIdk prlue
on application.

and Income

& Co

,

BANKERS,
Boston.
S«NA8HAC 8TRKET. NEW YORK.

16 Conj^ress Street,

8TATE. cirr A Railroad bonds.

VICKERS

A

29 Wall Street
BRUILtilRM IN

PHELPS,
New

York.

INVESTMENT

SECURITIES.

— ——

— —
.

—

—

THE CHRONICLE.

474

4%

Comptroller, for $100,000
rpgistored revonue (temporary) bonds.
Authority Section 90, (Chapter 182, Lawa of
1898. Date of bonds March 3 1900. Maturity Oct. 20 1906.
Certified check for 1% of the bond.s, payable to the City of
Tro\', re(|uired.

—

Tucson, Ariz. Bonds Defeated. The election Feb. 14 to
voteonthc! (lue.^tion of is.suing the $175 ,000 water, $15,000 fire
and $10,000 bridge and park bond.s mentioned in V. 82, p.
351 resulted in the defeat of the bonds.
Turlock (Cal.) Irrigation District. Bonds Not Yet Sold.
We have learned upon inciuiry that the $111,600 improvement bonds offered without success on Dec. 5 1905 (see V.
82. p. 02). have not j'et been disposed of.
,

—

—

Ulster County, (P. O. Kingston) N. Y.
Bond Sale. On
Feb. 20 the .SI 2, 000 1-6 year (.serial) road-improvement and
the $14,000 1-7-year (.serial) poor-house 4% coupon bond.s
described in V. 82, p. 351, were awarded to the Saugerties
Savings Bank of Saugerties at par.

—

Union, Broome County, N. Y. BondOjjering. Proposals
be received until 7:30 p. m. March 6 by A. Ray Humphrej', Village Clerk, for $15,000 registered electric-lightplant bonds at not exceeding 5% interest.
Denomination
$750. Date July 1 1906. Interest annual. Maturity one bond
yearly beginning July 1 1907. Bonded debt, including this
issue, $23,400. Assessed valuation 1905 $498,683.
will

Vandalia (Ohio) School District.

Bonds Not

to

Be Issued.

— We are informed that the matter of issuing the $8,000 4%

school bonds offered without success last June has been indefinitely postponed.

—

Vicksburg, Miss. Bids Rejected. The following bids,
all of which were rejected, were received on Feb. 15 for the
$115,000 5% 5-20-year (optional) coupon funding bonds
described in V. 82, p. 236:

&

Co., Chic-S117,637 001 Miss. Bank
Tr. Co., Jacks'n$116, 160
Co.. Cin. .0116.437 50 A. Kleybolte
Co., Cincin.- 116.150
Co., Chicago. 110.250 00| J. M. Holmes. Chicago
116,150

JohnNuvpen &

W.J. Hayes &

00
00
00
115,575 00

&

Sons, CIeve..all6,201 00|S. A. Kean, Chicago

And accrued interest

—

Vigo, County (P. 0. Terre Haute), Ind.— Bond Sale.
On
Feb. 20 $37,000 gravel-road-assessmeut bonds were awarded

INVESTMENTS.
R.

L.

DAY &

[Vol. Lxxxii.

to E. D. Bu.sh & Co. of Indianapolis at 102.921 and accrued
interest. The bids were as follows:
E. 1). Hush & Co.. Indlanap.. $38,081 00 WpII. Roth <tCo., Clncin
$37,787 60
J. K. Wild & Co., Indiauap... 37,'J(i:i 00 Meyer & Kl»er, Indlanapollii.. 37.540 00
Albert ivleybolte <Sc Co.. (Jin. .037.925 00 .ScasoriKood & .Mayer, Clncin.. 37,512 82
Hudolpli Kleybolte iCo., Cln 37.S5S 40|S. A. Kean. Chicaijo
o37,185 00

a These bids were said to be irregular and were therefore not considered.

Denomination $925. Date March 1 1906. InU;rest May 15
and Nov. 15 at the Central Trust Co. in New York City.
Maturity one bond every six months beginning Nov. 15 1906.
Wellsville, N. Y.
Bo?id Sale.
This village on Feb. 14
awarded $29,963 55 registered street-improvement bonds to
N. W. Harris & Co. of New York City for $30,002 45 and accrued interest for 3.85 per cents.
Denomination $1,198 54.
Date March 1 1906. Interest March 1 and Sept. 1 at the First
National Bank in Wellsville. Maturity one bond yearly from
March 1 1911 to March 1 1935 inclusive. IBonded debt, in-

—

cluding this issue, $46,322 53.
Assessed valuation
Actual value e.stimated at $2,519,752.

West New York School District, Hudson County, N. J.
Bond Salr.—Ou Feb. 13 the $70,000 5% coupon .schoolbuilding bonds described in V. 82, p. 352, were awarded to
the Hudson Trust Co. of Hoboken at 111.
West Point Precinct, Cuming County, Neb. Description
of Bondti.—'We are advised that the $19,000 West Point Precinct bonds awarded at par and interest on Jan. 28 to the
City Savings Bank of Omaha (V. 82. p. 352) carry 6% interDenomination $1,000. Interest January and July.
Willmar (Minn.) School District No. 17. Bonds Authorized.
We are informed that the School Board has been
est.

—

authorized to issue $12,500 bonds; also that the loan will
probabl}'' be obtained from the State.

—

N. Y. Bond Sale. Proposals were requested
12 m. yesterday (February 23) by John H. Coyne,
fire-department bonds.
Mayor, for $15,000
Authoritj'
Chapter 488, Laws of 1900. as amended by Chapter 33,
Laws of 1902 and Chapter 411, Laws of 1903. Securities
Maturity $5,000 on April 1
will be dated Feb. 28 1906.
The bonds were
in each of the years 1924, 1925 and 1926.
awarded to W. J. Hayes & Sons of Boston at 104.49.
Yonkers,

4%

MISCELLANEOUS.

CO.,

Whiting Papers

ACCOUNTANTS.
LYBRAND,
ROSS BROS &

MONTGOMERY

NEW YORK

(PennaTlTaala)

Stephen GIrard Biiildlni,

PHILADELPHIA.

Wall Street Kxctaance BulldiaSt

NEW YUUK

8TOOK BXCHANGB8.
STATE, MUNICIPAL. AND HIGH GRADE
RAILROAD SECURITIES.

Adrian H. Muller

For Fine Correspondence
Basmess Ueee are
stcmdard, made in Led^r, Bond,
Linen and Fine Writing In Tariety.
and

for General

& Son WHITING PAPER CO.

AUCTIONEERS.
Regular Weekly Sales

New

York.

Philadelphia.

milUi Uolroke,

Chicao^o.

nia«a.

or

Office

and

WM. FRANKLIN HALL,
Accountant,
Exchano^e Bulldlnc,
i>/»«rrnv MASS,
tt kaa
BOSTON,
53 State Street
Books audited. Examinations and lnTe8tlg»>
tlonB oondootad with the utmost
oare and elUolenoy.

THOMASARCHEB
B. DEAN,
DEAN

R.
EVERY WEDNESDAY.
No. 55 \riI.LIAM STREET

A. Lancaster

&

CERTIFIED PUBLIC ACCOUNTANTS

SonSj

BAI7KEBS,
MO. 10 WAL.L. STREET.

Wall Street Ezcbanee

41-43 Wall

MUNICIPAL AND PUBLIC SERVICE

l8t

and MI8CELLAJNE0C8

SECURITIES.
SoKtkern S«cnrltle« a Specialty.

BOSTON,
Street.

MUNICIPAL AND
PUBUC FBANCUI8E CORPORATION
BONDS
BouKht and Sold.

W.

J.

HAYES & SONS,

OL.KTSl.AND, OHIO.

First Nat.

Rank

& Sons Co

BalldiNg, Ckloago.

COUNTY
AND TOWNSHIP

CITY

The American Mfg. Co.
MANILA SISAL AND JUTE

CORDAGE.

WASHINGTON LIFE 8UILDINQ,
141 BROADWAY,

65 Wall Street,

New

BONDS.
^*

NEW YORK.

^°^W. F.WEISS,
CERTIFIED PUBLIC ACCOUNTANTS
128 Broadway, New York.
TKLKl'HONK—«76«>-»769 CORTLlA.MDT.

LOOMIS,CONANT&00.
ACCOUNTANTS

CERTIFIED PUBLIC

York.

BOSTON, MASS.

Eatabllshed XHHi.

H. C. Speer

KERR,

J. C.
CERTIFIED PUBLIC ACCOUNTANT
TBI,BiPBONE6842 CX)KTLANI)T.

60 State

Bldcr..

NEW YORK.

-

D1AT,»1W IN

INTESTMENT

BONDS.
CHICAGO,
Nat. Bank Bldg.

St.,

Telephone 1156 Broad.

NEW^ YORK,

Trowbridge & Niver Co.

&

Successor to

BONDS

Corner Pine Street.

Accountants'

Certified Public

t

8 Nassau Street,

MEMBBBS
NEW YOEK AND BOSTON

STOCKS

1905

$1 ,2.59.876.

BANKERS,
85 Congress Street,
BOSTON.

—

until

Browne-EUinwood
Un. Sav. Bk.&Tr.

a

——

30 Broad

New York.

Street

Tel. 4»6» Broad.

ALFRED
ROSE & CO.,
CEKTI1<IED PUBLIC ACCOUNTANTS
Until partly-flnished bonds were made and
carried In stock, no tmi)rovcinent had been
made over the old slow and costly method ot
lithoKraphlnK borders, specially tor every lot
The new way saves a large
ot bonds Issued.
proportion ot the cost and the time required.
It, beside, any part of a bond be set In type
and printed, a further saving ot time and
money Is eflected. Do not order bonds till you
get our estimate.

ALBERT B. KING & CO., 206

Broadway, N. Y.

(New Tork and

36 Pine

Street.
Tel. 4Brtl

IHlnola.),

NhW YORK.

John.

JAMES PARK &

CO.,
CERTIFIED PUBLIC ACCOUNTANTS
5'i Brond«iiy, New York.
!£;t4

LaSaile Street. ChlcaKO.