The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
finatirtal
11.11111tCle
Tue
unittirra
INCLUDING
Bank and Quotation Section (Monthly)
Railway and Industrial Section(Quarterly)
State and City Section(Semi-Annually),
Electric Railway Section(Thr
NO. 2279.
SATURDAY, FEBRUARY 27 1909.
VOL. 88.
Week ending February 20.
The Throuirte.
Clearings at1908.
1909.
Inc. or
Dec.
1907.
1906.
PUBLISHED WEEKLY.
Terms of Subscription-Payable in Advance$10 00
260,098,126
Chicago
28,994,100
Cincinnati
For One Year
16,250,624
6 00
Cleveland
For Six Months
12,878.817
00
Detroit
13
postage)
ng
tion
(includi
n
Subscrip
Europea
15,867,872
Milwaukee
7 50
postage)
ng
(includi
8,3&3,002
__
_
_
lis
European Subscription six months
Indianapo
148.
22
9,985,500
Annual Subscription in London (including postage)
21. 118. Columbus
3,131,734
Toledo
Six Months Subscription in London (including postage)
50
$11
)
3,151,308
Peoria
Canadian Subscription (ificluding Postage
_
1,957,231
Rapids_
Grand
ents
Supplem
ng
Subscription includes followi
1,548.416
Dayton
1,839,561
Evansville
STATE AND CITY (serni.annually)
13 \NIC AND CatTOTATION (monthly)
1,055,634
C RAILWAY(3 times yearly) Kalamazoo
RAILWAY AND INDUSTitIAL(quarterly) I ELECTRI
848,828
Springfield, Ill -807,354
Fort Wayne _ _
Terms of Advertising-Per Inch Space
598,578
Youngstown __-20
$4
agate lines)
680,000
Akron
Transient matter per inch space(14
22 00 Lexington
(8 times)
570,312
Two Months
29 00 Rockford
514,390
mes
Three Months (13ti)
00
50
Cards
s
505,184
(26 tiuies)
Quincy
Standing Busines
Six Months
87 00 Bloomington_ _ _ _
366,732
Twelve Months(52 times)
750,396
ck Block; Tel. Harrison 4012, Canton
425,734
Decatur
CHICAGO OFFICE-P.Bartlett,513 Monadno
C.
,
E.
'
1
,
412,965
Drapers Gardens
South Bend
LONDON OFFICE-Edwards &Smith
643,423
ld, 0...
Springfie
286,787
Mansfield
WILLIAM B. DANA COMPANY,Publishers,
366,623
Jackson
New York.
P.O.Box 958. Front. Pine and Depeyster Efts..
272.664
Jacksonville, Ill_
119,875
Ann Arbor
NY
287,376
Danville
Published every Saturday morninz by WILLIAM B. DANA COMPA
Arnold
See.;
and
s.
Jr.,
Vice-Pre
Seibert
t;
Jacob
24,146
Adrian
Presiden
Dana,
William B.
G. Dana,Treas. Addresses of all,Office of the Company.
Tot. Mid.West. 368,623,292
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all clearing houses of the U.S.
for week end. Feb. 27 have been $2,669,962,174, against $2,895,599,355 last week and $2,220,297,618 the week last year.
1909.
1908.
$1,385,185,014
105,991,246
90,340,937
17,286,163
195,061,784
45,940,475
9,658,373
$1,039,440,672
102,501,672
96,138,033
18,616,012
188,537,098
51,032,368
12,001,409
+33.2
+3.4
-6.0
-7.1
+3.5
-10.0
-19.5
Seven cities, 5 days
Other cities, 5 days
$1,849,463,992
330,279,468
$1,508,267,264
355,019,468
+22.6
-7.0
Total all cities, 5 adys
All cities, 1 day
$2,179,743,460
490,218,714
$1,863,286,732
357,010,886
+17.0
+31.7
$2,669,962,174
$2,220,297,618
+20.3
Clearings-Returns by Telegraph Feb. 27.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New ()deans
I,
Total all cities for week*
%
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 the last day of the week has
to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Feb. 20, for four years.
Week ending February 20.
Clearings at1909.
1908.
Inc. or
Dec.
1907.
1906.
$
,652
,
/0.3 1,581,598,435 1898,167
7
1,751,144,341 1,028,f57,829 +
New York
85,071,741 +55.8 108,274,249 117,484,933
Philadelphia _ _ 132,557,740
66
45,773,008
49,241,6
32,043,370 +21.2
38,827,149
Pittsburgh
22,803,091
25,156,248
17,170,608 +57.1
26,978,530
Baltimore
6,067,737
8,681,900
• 7,975,570 +2.4
8,169,377
Buffalo
4,257,541
4
+41.0
6,417,12
1
3,919,04
5,624,711
Albany
4,627,777
4,828,129
4,025,505 +76.1
7,088,265
Washington _ _ _ _
3,076,517
2,822,006
2,727,675 +38.5
3,778,035
Rochester
1,609,462
9
+28.4
1,973,82
4
1,734,67
1
2,227,81
Scranton
1,412,214
1,738,125
1,786,052 +26.0
2,251,018
Syracuse
987,594
1,025,494
760,094 +88.1
1,442,778
Reading
1,132,979
1,261,733
968,349 +30.1
1,260,947
Wilmington
680,853
888,000
-11.7
1,102,851
974,776
_
arre
Wilkes-B
1,003,045
979,543
993,015 +46.8
1,458,631
Wheeling
795,634
704,570 +32.0
930,000
Harrisburg
496,433 +61.5
805,121
York
455,522
622,062
481,635 +24.3
598,588
Erie
378,136
469,724
450,000 -4.1
428,640
Greensburg
416,700
433,000
473,200 +6.6
504,400
Binghamton
494,609
393,558
317,099 +49.9
475,779
Chester
200,000
218,325
170,450 +60.0
273,047
Franklin
+7.7
424,469
394,093
Altoona
1,440,720 Not included in total
Trenton
Total Middle_ _ 1,987,984,153 1,191,929.854
158,070,539 107,818,469
Boston
5,825,500
7.345,000
Providence
2,051,071
3,691,061
Hartford
1,801,082
2,487,032
New Haven
9
1,398,653
1,892,14
Springfield
1,110,092
1,511,202
Worcester
1,118,255
1,603,172
Portland
901,497
1,272,314
Fall River
467,324
810,071
New Bedford_ _ _ _
332,161
420,300
Lowell
311,698
446,229
Holyoke
Total New Eng.
179,549,069
123,135,792
252,837,002 +45.8 297,838,492 272,695,086
34,735,084
42,390,387
26,592,722 +39.4
37,067,868
9,883,179
11,434,495
7,712,660 +68.8
13,021.4113
10,484,325
7,849,564
6,059,815 +52.5
9,238,885
3,959,046
5,847,728
4,689,794 +34.5
6,306,441
4,676,730
5,056,384
3,611,559 +49.0
5,380,559
3,131,780
4,282,894
4.017,892 +65.0
6,628,517
3,356,776
3
+16.4
3,819,08
3,824,424
4,452,409
4,253,484
1,149,709 +58.4
1,820,057
392,724
787,538
446,719 +83.1
818,129
701,287 +6.6
747,956
319,987
• 463,843
516,326 -6.5
482,689
245,145
398,000
470,000 +12.8
530,000
348,282 +24.9
435,020
392,537
457,000 -18.2
373,993
+15.1
700,000
806,000
150,000 +20.0
180,000
456,265 Not included in total
Not included in total
71,184,776
86,651,478
61,448,189 +43.7
88,290,006
San Francisco_ _ _
Los Angeles
Seattle
Portland
Salt Lake City_ -Spokane
Tacoma
Oakland
Helena
Sacramento ___ _
Fargo
Sioux Falls
Stockton
San Jose
San Diego
Billings
Fresno
North Yakima
* Figures cover five business days in 1909 and six in 1908.
206,674.108 190,063,883
171,995.577
22,178.850
1..2
4421
25,094,700
20,410,600 +
11,901,369
13,423,348
12,771,058 +27.2
10,300,864
10,002,927 +28.7
11,609,343
8,175,430
10,811,066 +46.8
9,458,935
5,700.430
6.987,074
6,306,961 +32.9
4,851,800
4,308,300
3,638,900 +37.0
3,253,289
2,808,841 +10.8
3,805,053
3,448,625
2,467,853
1,949,224 +61.7
8
1,897,35
1,795,851
1,589,930 +23.2
2,115,066
2,380,412
1,366,826 +13.3
1,666,803
1,379,311
1,686,266 +9.1
996,156
613,316
750,642 +40.6
852,272
687,408
794,133 +68.0
654,495
669.948
632,251 +27.7
442,005
626,907
462,768 +29.4
438,700
659,000
+46.2
465,000
678,233
602,399
689,784 -17.3
525,372
565,451
480.977 +6.9
369,110
469,687
342.086 +47.7
440,639
469,408
360,438 +1.7
395,240
447,885
345,277 +117.4
428,837
380,759
329,852 +29.1
295,803
365,965
304,830 +35.5
458,601
343,244
+19.4
530,429
244,349
326,805
258,810 +10.8
205,000
220,500
200,000 +83.3
273,789
233.935
137,909 +97.9
98,622
97,683
114,657 +4.6
279,983 +2.6
18,000
19,000 +27.1
Total Pacific_ _
_
Kansas City
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
Davenport
Topeka
Colorado Springs
Cedar Rapids _ _
Pueblo
Fremont
42,687,944
17,360,158
12,680,660
8,350.897
9,212,876
5,300,000
3,531,703
2,361,198
1,850,000
1,595,402
1,108,841
1,579,156
727,415
891,931
607,779
333,537
25,345,471 +68.4
13,633,858 +27.3
7,903,720 +60.4
7,357,512 +13.8
5,679,778 +62.2
4,400,000 +20.5
1,990,295 +77.4
1,790,909 +31.8
1,065,719 +73.7
807,584 +97.6
654,711 +69.3
996,833 +58.5
428,496 +69.8
424,954 +109.7
555,176 +9.5
171,059 +95.0
27,660,475
17,119,047
9,531,672
7,187,246
6,251,536
5,592,372
2,443,157
2,092,128
1,273,578
1,131,077
1,093,508
926,719
600,000
547.350
538,016
315,463
23,091,428
16,435,229
8,846,787
6,697,403
5,917,620
4,616,863
2.162.093
1,739,669
971,568
Tot. oth.West_
110,179,497
73,186.075 +50.5
84,313,344
73,794,476
48.342,330 +26.8
14,356,180 +11.9
9,755,893 +54.5
9,003,578 +48.5
5,848,000 +15.7
4,559,685 +42.0
3,697,186 +37.1
4,211,014 +19.8
2,857,899 +126.7
2,679,353 +27.3
2,392,929 +14.9
2,179,716 +7.4
1,314,573 +33.8
1,087,840 +12.7
1,112,457 +38.3
1,1(10.000 +11.3
1,233,937 +24.9
1,150,000 +33.9
1,094,192 +32.5
1,118,020 +72.5
675,460 +7.0
250,000 +30.0
658,947 +137.5
564,056 +1.5
294,948 +22.1
400,000 +70.9
321,095 +14.9
55,435,525
17,819,187
12,945,119
13,786,340
7,099.000
5,351,152
4,835,567
4,291,270
3,833,306
3,650.000
3,171,282
2,688,770
1,869,215
1,560.482
1.556,929
1.449,000
1.350,975
1,375,000
1,247,784
1,264,666
775,000
225,000
978,085
525,000
300,000
56,049,604
18,887,816
11,465,947
7,000,000
6,274,500
4,807,740
4,142,189
5,011,056
2,519,210
3,300.000
3,801,552
1,670,790
1,751,440
1,423.979
1,669,036
1,136,718
1,249,108
1,074,831
1,034,929
1,110,861
517,546
251,771
910,000
460,000
330,000
61,272,913
16,065,671
15,071,433
13,367,764
6,767,000
6,473,229
5,067,053
5,044,591
6,479,868
3,411,675
2,747.962
2,341,664
1,760.597
1,225,297
1.538.237
1,279,702
1,540,372
1,540,000
1,450,937
1,929,795
722,715
325,000
1,564,824
572,391
360,000
683,603
369,045
St. Louis
New Orleans_ _
Louisville
Houston
Galveston
Richmond
Atlanta
Memphis
Fort Worth
Nashville
Savannah
Norfolk
_
Birmingham
Mobile
Knoxville
Charleston
Augusta
Chattanooga _ _ _
Little Rock
_Jacksonville
Macon
Columbus, Ga_ _
Oklahoma
Beaumont
Wilmington,N.C.
Austin
Vicksburg
Total Southern
Total all
Outside N. Y
809,975
780,352
481,240
554,062
509,044
181,143
583
160.973,338 122,259,288 +31.7 149,383,654 137,650.
5,733
2,895,599,355 1,824,796,200 +58.7 2,576,560,060 2,825,29
081
1,144,555,014 796,638,371 +43.7 994,961,625 926,938,
CanadaMontreal
+66.8 1,797,818,784 2,111,219,370 Toronto
+46.6 148,359,979 139,537,712 Winnipeg r
6,883,500 Vancouve
6,253,700
+26.1
2,845,758 Ottawa
2,695,997
+80.0
1,962,832 Quebec
1,847,774
+38.1
1,874,697 Halifax
1,677,391
+35.3
1,251,495 Hamilton
1,443,949
+36.1
1,483,070 St. John
1,352,257
+43.4
1,073,670 London
819,277
+41.1
543,842 Calgary
634,818
+73.6
388,379 Victoria
433,466
+26.5
406,447 Edmonton
395,982
+43.3
Total Canada.
+45.8 165,914,590 158,751,402
27,067,059
25,771,073
9,644,429
3,976,862
2,919,640
1,844,714
1,500,646
1,399,946
1,159,559
1,057,908
1,197,377
1,101,703
828,464
79,469,380
+14.3
+43.2
+10.0
+33.2
+15.2
-3.8
+4.3
+16.3
+5.6
+7.6
+24.8
+7.6
+56.5
27,282,906
22,450,731
8,799,560
3,390,904
2,852,745
1,869,796
1,300,000
1,549,054
989,833
1,050.226
1,426,025
860,547
890,184
29,538.996
21,181,129
6,808,428
1,989,039
2,249,656
1,453,897
1,470,740
1,188,325
1,003,203
890,348
65,123,634 +22.0
74,712,511
63,385,871
23,691,705
17,992,827
8,769.685
2,984,316
2,534,771
1,916,255
1,438,016
1,203,456
1,097,325
982,677
959,341
1,023,729
529,531
612,117
528
THE CHRONICLE
ELECTRIC RAILWAY SECTION.
A new number of our "Electric Railway" section,
revised to date, is sent to our subscribers to-day.
The editorial discussions in the same embrace the
following topics: "Street Railway Fares" and "Subways and Elevated Lines."
[VOL. Lxxxvm,
Though foreign exchange rose, during the week,
to rates which, under normal conditions of the market, would have made exports of gold to London directly,and to Paris as an arbitration operation,profitable, the maintenance of rates for exchange at Paris
at about the gold-export point to London prevented
such movement of the metal. Moreover, there was
no inducement for shipments of gold to either centre;
at Paris there was a plethora, while the Bank of England was absorbing South African gold from the bullion market, without competition, and receiving the
metal from Egypt and from the Continent. Further
more, London was experiencing relief from the drain
of gold to Argentina through the diversion of the demand to New York.
THE FINANCIAL SITUATION.
There have been more unreliable rumors afloat
the
current week than for many a previous one. Probab
ly
the story that Servia was about to set all Europe
ablaze
was among the largest and least reliable. The
truth
came to the surface yesterday. It was that the
European capitals had crystallized the body of views and
opinions at those centres and had concluded and
had
proved that the scare had no trustworthy grounds for
The reappearance of the Coney Island five-cent fare
belief and were consequently baseless. It is a surdemand
, by a Senate resolution of inquiry—why the
prise that such a reasonable way of settling the issue
Public
Service
Commission delays in reaching a dehad not been thought of before. All along it has been
cision
thereo
n—give
s an incidental interest to one part,
known that the struggle was a one-sided affair—
the at least, of the recent report
of Mr. Arnold, consultarmies and navies, the governments and the
money- ing engineer for the Commis
sion,
on the "return upon
bags of the world on the one side, and poor Servia on
investment in subways." To say that the poor man
the other. With such a disparity in the contest
ants
only a little time for reflection could have been resident up in the Bronx section has a natural right
to take his children to the seaside for a single nickle,
needed to settle all uncertainty.
and therefore the common carrier must be made to
Early in the past week a cut in iron and steel was
a take him thither, and
manage the financial consenotable incident. Indeed those markets were said
quences
as
it
can,
is
an
offhand, humanitarian way
to be open for a time. That declaration, though it
dealing
of
with
the
proble
m which is sure to be highly
was widely made, was, it seems, hardly accurate.
popular
agreein
,
g
with
proposition that one man
the
Prices of steel and iron were no doubt demoralized,
is
as
good
as
any
other.
But
a very little considerabut not thrown open absolutely. There was a mation
shows
that
such
a
trip
is
loss
a
to the carrier, with
terial cutting of prices, followed by a somewhat similar
decline of movement. The truth is, there was in the especially unfavorable features in being a one-way
air a feeling of uncertainty connected with prices travel which involves empty cars in each direction
which extended to almost the whole Stock Exchange alternately. Mr. Arnold figures—and quite likely
he is correct—that any rate under a cent a mile is
list. On Wednesday, however, there was a moveme
nt unprofitable; and he makes the very obvious
discovin the opposite direction somewhat similar, but
the ery that the short rides must offset
and financially
course was a sharp recovery.
"carry" the long ones.
There was an eager demand in London, Paris and
If enough people would ride a little way, they could
Berlin for the Argentine loan, and the amount ap- carry the burden of those who ride a long one--so
portioned for offering at these centres was greatly much is simple. But how to produce this average
oversubscribed, the lists closing soon after their open- passenger? Mr. Arnold's notion to design express
ing. The 15 millions reserved for London, the 17 mil- stations on what he calls the "reservoir principle"
lions for Paris and the 8 millions for Berlin may be dis- seems not sufficient, for the genuine short-ride pastributed after allotment. It is also understood that senger, who is needed, should enter or leave (or do
the Morgan syndicate,which took 10 millions, will offer both) at the local station, and use the local train.
its allotment the coming week.
Instead, he makes it a point to use the express as far as
possible, and the disposition to push for the utmost
Compliance with the requisition of the Secretary of haste
in movement seems so inbred by example in
the Treasury (Feb. 3) for the surrender of 30 millions
New Yorkers that there is no visible means of changpublic funds by Government depositories was ing
it.
promptly effected on Wednesday, when the call maThis study of Mr. Arnold's adds to the mass of mattured. Surrenders had been in almost constant prog- ter presently to be printed, as
showing how much the
ress since the call was issued, depositories thus an- regulat
ing scheme performs, but its omissions are as
ticipating its maturity, so that the sum turned over noticeable as its suggestions.
He would raise funds
on the last day was comparatively small. It is esti- for construction and
equipment of "such portions of
mated that when the surrendered deposits shall have future subway
s as can be shown to be profitable"
been covered into the Treasury there will remain about upon
the city's credit, while for the clearly unprofita70 millions of public funds in the banks. Heretoble portions he advises the impractieable device of
fore, when surrenders have been in progress, they were
loading initial cost on the contiguous territory to be
largely effected through the New York correspondents benefit
ted. Here is no suggestion of plans whereby
of interior depositories, who have drawn upon their
private capital may be attracted. If property likely
reserve balances with such correspondents, directing
to be advanced by some piece of transportation will
them to pay over the depositories' quota to the Subvolunteer to bear assessment—according to hints
Treasury; this course was taken in order to effect
which have been given in one or two instances—there
surrenders under the call which has now matured.
is no mention of such an alternative of escape. It may
FEB. 27 1909.1
THE CHRONICLE
be a defect—as it certainly is an economic fallacy—
that there is no provision for grading fare on subways
somewhat by the distance; but there is no mention of
this.
The objective sought in subway work has been the
long through haul, and the conformation of the territory seems to discourage expectation of compensating
short travel. Until the dream of things supposedly
free by being had at the public cost fades somewhat,
it will be difficult to get a fair hearing for either a
graded fare or for leave to private capital to attempt
solving the problem of interruban travel in its own
business-like ways.
It is gratifying to find that there are some men in
public life who understand the importance of maintaining constitutional guaranties and restrictions
and who are prepared to devote themselves to the
cause of preventing encroachments upon the same.
Congressman Samuel W. McCall of Massachusetts is
one of these men. Mr. McCall was asked to become
President of Dartmouth College, but found himself
obliged to decline the honor. In a letter explaining
the motives that influenced him to this step, Mr. Mc
Call points out that the work he is engaged in as
Congressman affords him opportunity for rendering
service which he considers of extreme importance in
this very trying period in Government affairs. He
says he did not take up the work lightly and he cannot,
therefore, in what he believes to be a very grave
crisis,drop it easily and shift to something else. Disclaiming any intention of entering upon a political
discourse, he expresses the opinion that the crisis
referred to is full of peril to our institutions. Proceeding, he says: "I am far less concerned by particular
theories than by general methods of government—
methods which have been carrying us swiftly toward
a condition under which limitation upon governmental power would be done away with and the
favoritism and caprice of an autocrat would take the
place of constitutional restraint. And some chance
barbarian, as an autocrat, might overturn our temples
and do more harm in the direction of uncivilizing
the country than all our colleges together could
possibly repair."
This shows a true appreciation of the dangers of the
situation. In every direction we are enlarging the
functions of government and are substituting personal government for government under the law.
During the last few years the 'autocrat has been very
much in evidence, not only at Washington, but at
Albany and the other State capitals. He has shown
very little concern for the law or the Constitution.
The thing with him has been, not whether a given
course or line of conduct was in conformity with the
statutes, but would it find support with the great
mass of the voters? It is in the continuation of this
tendency, under which the executive official is made
superior to the law, that Congressman McCall sees a
grave and threatening evil.
For ourselves, we may be permitted to add that in
a material and economic sense the country is already
suffering seriously as a result of the new policy we have
been pursuing, though many estimable citizens do not
semi') to recognize the fact. The existing business depre --;ion is due chiefly to the circumstance that enterprise has been brought to a halt,owing to a feeling on
529
the part of investors and capitalists that there is no
longer security for investments and corporate undertakings in this country, by reason of the change in Government policy. Under the old methods, the country
attained a degree of prosperity and advancement
never before reached by any country in history.
Under the new methods capital which should stay
at home and continue its fructifying influence is
going to South America and other less civilized parts
of the globe, simply because it is felt that there is
greater assurance of protection in the remoter and
semi-civilized communities than there is in our own.
In political quarters we are told that in their new
course our Government leaders are acting simply in
response to the wishes of the people. But if that be
so, then the people are pursuing a very shortsighted
policy. Under any reasonable attitude they might
be enjoying the old time prosperity, when apparently
they are preferring trade inactivity, with its lack
of employment and profits, in order to exploit new
theories of government. We canot believe it will be
long before the awakening will come.
It will be remembered that the New York Cotton
Exchange at the meeting of Feb. 18 failed to take decisive action upon the specific matter (a spinners'
contract) recommended by the special investigating
committee. This omission has been variously construed, and quite generally as evidencing antagonism
to the proposed innovation. That is by no means a
correct view. As a matter of fact, after comparatively brief discussion, pro and con, of the committee's
recommendation, it was decided, on motion of one of
the oldest and most conservative members of the Exchange, to adjourn the meeting for one month, thus
permitting the members to give to the subject the
serious consideration its importance seems to warrant.
And there, for the present, the matter rests, with the
probability that final action will be taken on March
18.
As the new contract would appear to be desirable,
not alone because it would enable spinners to obtain
actual supplies of cotton through the Exchange, as
well as using the ordinary contract in hedging their
outside operations, its adoption, or the adoption of
something analagous, would be of the utmost importance as showing the disposition of the body to meet
and disarm criticism of its methods. It is the evident
intention of various members of the Exchange to ascertain for themselves whether the proposed new contract
is in accord with the desires of spinners of cotton, and,
if not, in what particulars it can be improved. There
are also the questions to be considered whether the
contract covers too many grades, and also if, in the
event of its adoption, it will induce the South to offer
cotton to the New England mills through the New
York Exchange. With information on these and other
points suggested, the members will be better able to
take most intelligent action which the subject demands,
but which was not possible for them to fit themselves
to give in the limited time elapsing between the publication of the recommendation and the date of the meeting. It seems safe to assume that when action is
finally taken, it will be on lines beneficial to the Exchange and to those who desire to make legitimate
use of its services.
530
THE CHRONICLE
Fixing standards of grades of agricultural products
by the U. S. Government encountered strong opposition in the Senate on Wednesday. The particular
measure under discussion was the Agricultural Appropriation bill, which carried amendments providing
$30,000 for the collection and distribution of samples
of grades.of cotton and $75,000 "for investigating the
handling, grading and transportation of grain and the
fixing of standard grades thereof." A decided stand
was taken by leading members of the body against
authorizing the Secretary of Agriculture to fix standards for any commodity, and it was further maintained
that the Federal Government had no right to inspect
any commodity until after it became a part of inter-State commerce. After a heated debate the amendment applying to grain was stricken out, and in its
place a provision was inserted appropriating $52,440
"for investigation of the handling, grading and transportation of grain and a study of the factors entering
into the usual operations therewith." The appropriation for the promulgation of the standard cotton grades
was thrown out on a point of order.
This action of the Senate is taken to indicate a
decided change from the tendency toward increasing
the power of the Department of Agriculture by establishing new inspection services of various kinds.
The point was made that the grain amendment as
originally worded would virtually authorize the appointment of grain inspectors in every locality where
that commodity is produced, and that, furthermore,
it did not come within the constitutional authority of
Congress. If the stand our highest national legislative
body has taken in this matter is really to be construed
as indicative of a change in practice,the country is to be
congratulated. We have seen so much Federal regulation
of industrial affairs, or attempts at it, within recent
years that it almost seemed as if we were drifting
towards extreme and permanent paternalism.
Immigration figures for January 1909 contrast
sharply with those for the corresponding month of the
previous year. It will be remembered that as a result
of the depression that followed the panic of 1907, there
was not only a decided drop in the tide of immigration to this country, but an important efflux of the
laboring element set in and continued down to near the
close of 1908. In fact, in every month from December 1907 to August 1908, inclusive, the outflow of
aliens exceeded the inflow; in a portion of that period
the excess in outflow was very large, resulting in a
net decrease in foreign-born population for the calendar year 1908, as against important additions in earier years. But in the late summer of 1908 ,concurrent
with revival in business affairs, a turn in the tide was
discernible. The outward movement of aliens declined steadily, and in September, for the first time
since the November previous, was exceeded by the
inflow. Each month since has told the same story of
a balance in our favor, with the latest period (January
1909) making the best showing. Yet the movement
had not, up to the close of January, approached very
closely to what might be termed a normal situation.
That status, however, is likely to be disclosed the current month, when officially compiled. Indeed, so
great activity in the landing of immigrants has not
been witnessed for some time in New York as in February. Where a year ago many vessels arrived with
[VOL. Lxxxvm.
steerage practically empty, now the steamers coming
in from both north and south European ports bring
large complements of passengers. Many of these, of
course, are merely returning after a sojourn abroad
that economy prompted.
The January immigration statement shows that the
number of immigrant aliens admitted through all
ports of the country during the month was 43,868,
a total greater by 16,648 than in January 1908, but
10,549 smaller than in the month of 1907 and 7,259 less
than in 1906. A notable feature of the exhibit is the
fact that the influx from Austria-Hungary, at 16,364,
in January 1909, was not only greater than in the previous month and four times the total of January 1908,
but actually exceeded the inflow from those countries
in the month of 1907 or 1906. Italian immigration
fell below the December aggregate, but was 2M times
that of January a year ago, and also in excess of 1907.
Arrivals from or via Canada and Mexico were materially larger than in January 1908, 1907 or 1906,and in
these instances it is worthy of note that each year
shows an increase over its immediate predecessor. In
January 1906 there came from Canada 88 immigrant
aliens and in 1909 the total was 3,471. Coincidently,
arrivals from Mexico advanced from 103 to 1,436.
In direct contrast with the foregoing, the immigration from Russia during the month under review was
smaller than in January of either of the three preceding years, and the same is quite generally true of remaining European countries. Arrivals from Japan
have, of course, fallen to a small total; they
were only 203 in January 1909, against 971 in the
month of 1908 and 5,275 in 1907. For the seven
months of the fiscal year 1908-09 (July 1 to Jan. 31)
the aggregate of immigrant aliens compares quite
unfavorably with that for 1908 or 1907, and, inferentially, the various countries make a like exhibit. The
totals are 261,531 in 1908-09, against 617,434 in 190708 and 595,814 in 1906-07. In addition to the immigrant aliens, the arrivals in the country include what
are termed non-immigrant aliens, made up, of course,
in large part of those returning after a sojourn abroad.
And this item is necessary to be considered in reaching
any conclusion as to the effect of immigration upon
population. These non-immigrant alien arrivals in
January 1909 were 11,107, against 5,838 in the month
of 1908 and 6,758in 1907, and for the seven months
of 1908-09 reached 99,609, comparing with 88,889 in
1907-08 and 71,637 in 1906-07.
The outward movement of aliens, emigrant and
non-emigrant, in January 1909 was of very restricted
proportions, reaching only about 12,000, as against
60,233 in the month of 1908 and 16,000 in 1907, and
for the seven months of the current fiscal year reached
259,139, comparing with 433,180 in 1907-08 and about
200,000 in 1906-07. Striking a balance between the
immigration and emigration figures, we find that,
while in the seven months of 1908-09 there was a net
gain in population of only 102,001, through the
movement of aliens, the increase in the likc period of
1907-08 was 273,141 and in 1906 07 reached the important aggregate of 467,451.
As already intimated, the inflow of aliens in the
current month (February) is practically along normal
lines for the season of the year, and, consequently,
well in excess of January and much greater than in
February 1908. No exact data are available except
FEB. 27 1909.1
THE CHRONICLE
for the port of New York, but that we have compiled
for the period down to and including the 25th,and it
shows arrivals of steerage passengers to the number of
54,414. Vessels due to arrive before the close of the
month should swell this total to approximately 57,000,
an aggregate comparing with less than 20,000 in February 1908 and about 54,000 in 1907. With the inflow at Boston, Philadelphia and other ports of entry
added, it is altogether likely that the month's total
will be close to, if not in excess of, the February
record aggregate of 68,696, made in 1906. Concurrently, the efflux of aliens is along meagre lines,
whereas in February 1908 the departures totaled 50,688 and in 1907 were about 16,500. An important net
gain in the ordinary labor force of the country is therefore the expected result of the February movement.
It is a question, however, whether our affairs have yet
reached the shape making possible the employment
of the added force. It is not to be denied that there
has been a marked improvement over conditions as
they were a year ago, but with that said much remains
to be done before a situation anywhere nearly approaching that obtaining before the panic is returned to.
The country is not yet ready to view with equanimity
any large increase in the volume of immigration.
The bank statement of last week showed, as the
most striking feature, a recovery in surplus as the result
of the satisfaction of the demand from trust companies
for cash with which to augment their reserves. The
average gain in bank surplus was $4,047,275, to
$13,545,075; the actual increase was $5,442,650, to
$15,647,875, and computed upon the basis of deposits
less those of $2,869,400 public funds the surplus was
$16,365,225. Average loans decreased $6,985,300,
while according to the statement of actual conditions
the contraction was $5,714,600. Average deposits
were reduced $4,634,700 and actual deposits fell off
$771,400. The actual cash gain was $5,249,800. The
cash reserve of trust companies was increased $2,887,200, to 17.11%, or 2.11% more than the sum
required.
Though the banks this week completed the surrenders of public funds for themselves and their correspondents, under the call of the Treasury Department
for the return of 30 millions of such funds, the market
for money was not affected thereby; about one-fourth
of the sum had, it is said, been surrendered previous
to this week, in anticipation of the maturity of the
call on Wednesday, and the remainder was turned over
to the Department on that day. The inquiry for
money for Stock Exchange purposes was small, owing
to quite general liquidation during the week; nonprofessional speculators refrained from buying because
of the violent fall in leading properties and investors
bought only moderate amounts. Time money was in
light request on account of the unsettled condition of
the stock market.
Money on call, representing bank and trust company
balances, loaned at the Stock Exchange during the
week at 24 and at 13%, averaging 2%; all these
institutions loaned at 13% as the minimum. Time
loans on good mixed Stock Exchange collateral were
quoted at 23'@,2%% for sixty and 29@3% for
ninety days, but no business was reported. Four
and five months' money was offered at 3%, seven to
531
eight months at 331% and nine months at
while loans for twelve months were obtainable at 4%..
Commercial paper shows an increase in volume and
the best names find ready sale. Quotations are31A@3%% for sixty to ninety day endorsed bills:
receivable, 4% for prime and 4@43'% for good four
to six months' single names.
The Bank of England rate of discount remains'
unchanged at 3%. The cable reports discounts of
sixty to ninety-day bank bills in London 23%
The open market rate at Paris is 13i% and a
Berlin and Frankfort it is 2%%. According to our
special cable from England, the Bank of England
gained £872,501 bullion during the week and held
£37,877,662 at the close of the week. Our correspondent further advises us that the gain was due largely
to purchases in the open market, although receipts
from the interior of Great Britain were of fair volume.
The details of the movement into and out of the Bank
were as follows: Imports, £1,214,000 (of which
£644,000 bought in the open market and £570,000
imported from Egypt); exports, £630,000 (wholly to
South America), and receipts of £289,000 net from
the interior of Great Britain.
The foreign exchange market was strong this week.
Continued selling by London of American securities,
resulting from the demoralizing decline in Steel,.
Reading and other stocks in our market, caused a
more or less urgent demand for exchange for remittance,and the pendency of the London Stock Exchange
settlement, which disclosed a large American account,
necessitated the procurement of cables in order to
effect prompt adjustments. On Wednesday the market was exceedingly active, with a wide range in fluctuations, reflecting operations by a combination of
bankers who were said to be taking advantage of the
successful negotiation of the Argentine loan in London
and Paris to manipulate the exchange market to their
advantage. A covering movement in oversold stocks
on the New York Exchange contributed to this speculative manipulation, and though at intervals there
were violent declines in rates, these were followed by
sharp reactions and the undertone was strong at the
close of the day. Thursday the movement was less
artificial and there was a good demand for remittance,
especially for cables; Friday the tone was firm.
Gold exports hence to:Argentina continue to be effected for London account and $2,700,000 went forward
this week, making $14,250,000 since the movement began; of this total $10,550,000 was shipped this month.
Compared with Friday of last week rates for exchange on Saturday were 10 points higher for long at
4 8510®4 8515, 25 points for short at 4 8745@4 8750
and 25 points for cables at 4 8775@4 8780. Monday
was a holiday; on Tuesday long rose 10 points to
4 8520®4 8525, short 10 points to 4 8750@4 8760
and cables 5 points to 4 8780@4 8785. On Wednesday long fell 5 points to 4 8515®4 8520, short 15
points to 4 8740@4 8745 and cables 5 points to
4 8775@4 8780. On Thursday long was 10 points
higher at 4 8520@4 8530, short 5 points at 4 8740®
4 8750 and cables 20 points at 4 8785@4 88. On Friday long rose 20 and short 5, while cables fell 5 points.
The following shows daily posted rates for sterling
exchange by some of the leading drawers.
532
THE CHRONICLE
Fff01.
Fri.,
Wed., Thurs., Fri.,
Feb. 19. Feb. 22. Feb. 23. Feb. 24. Feb. 23. Feb. 26.
560 days 4 86
Brown
1Sight__ 4 8834
Bros. & Co
160 days 4 86
Baring
1Sight„ 4 8834
& Co
560 days 4 86
Bank British
North America_ —1Sight__ 4 8834
160 days 4 86
Bank of '
1Sight_ 4 8834
Montreal
560 days 4 86
Canadian Bank
'Sight_ 4 8834
of Commerce
560 days 4 86
lieldelbach, Ickel1Sight__ 4 8834
helmer & Co
560 days 4 86
Lazard
'Sight__ 4 8834
Freres
160 adys 4 86
Merchants' Bank
1Sight__ 4 8834
of Canada
86
8834
86
88;4
86
8834
86
8834
86
8834
86
8834
86
8834
86
8814
HOLIDAY.
86
8834
86
88%
86
8834
86
8834
86
8834
86
8834
86
8834
86
8834
86
8834
86
8834
86
88%
86
8834
86
8834
86
8834
86
88%
86
8834
86
88%
86
8834
86
8834
86
8834
86
8834
86
8834
86
8834
86
8834
Rates for exchange on Friday were 4 8540@4 8550
for long, 4 8745@4 8750 for short and 4 8785@4 8795
for cables. Commercial on banks 4 8490@4 8510 and
documents for payment 4 84@4 853. Cotton for
payment 4 843'@4 84,cotton for acceptance 4 8490
@4 8510 and grain for payment 4 85%@4 85g.
The following gives the week's movement of money
to and from the interior by the New York banks.
Week ending Feb. 26 1909.
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Currency
Gold
Total gold and legal tenders
Net Interior
Movement.
$8,818,000
1,346,000
$4,100,000 Gain $4,718,000
609,000 Gain
737,000
$10,164,000
$4,709,000 Gain $5,455,000
With the Sub-Treasury operations and gold exports
the result is as follows.
Week ending Feb. 26 1909.
Banks' interior movement as above_
Sub-Treas. oper. and gold exports_
Total gold and legal tenders
Into
Banks.
Out of
Banks.
Net Change in
Bank Holdings
$10,164,000
28,200,000
$4,709,000 Gain $5,455,000
40,860,000 Loss 12,660,000
$38,364,000
$45,569,000 Loss $7,205,000
The following table indicates the amount of bullion
. in the principal European banks.
February 27 1908.
February 25 1909.
Banks of
Gold.
England_ _ 37,877,652
France _ _ _ 145,585,373
Germany _ 44,223,200
Russia _ _ 121,771,000
Aus. Hun_ 51,110,000
Spain _ _ _ 15,853,000
Italy_ _ _ 37,900,000
Neth'iands 9,578,000
Nat.Belg._ 4,281,333
Sweden _ _ 4,342,800
Switzland
4,735,200
Norway _- 1,523,000
Sliver.
Total.
Gold
37,877,662 39,320,717
35,523,314 181,108,687 110,628,662
13,788,050 58,011,250 35,118 000
7,788,000 129,559,000 116,063,000
12,791,000 63,901,000 46,511,000
32,457,000 48,310,000 15,717,000
4,634,000 42,534,000 36,398,000
4,045,500 13,623,500 7,691,400
2,140,667 6,422,000 4,030,667
4,342,800 3 904,000
4,735,200 3,315,000
1,523,000 1,501,000
Sliver.
Total.
39,320,717
36,242,950 146,871,612
13,321,000 48,439,000
6,070,000 122,133,000
12,573,000 59,084,000
25,954,000 41,671,000
4,600,000 40,998,000
4,315,200 12,006,600
2,015,333 6,046,000
3,904,000
3,315,000
1,501,000
Total week 478,780,568 113,167,531 591.948,099420,198,446 105,091,483525,289,929
Prey. week 476,786,691 111,504,665588,291,356 417,678,387 103,903,674 521,672,061
THE SELECTION OF THE CABINET.
Although Mr.Taft has publicly stated this week that
no selections for his Cabinet are to be regarded as final
except those of Senator Knox for the State Department and of Mr.Hitchcock for the Post Office, the list
appears to have been reasonably well completed; at
all events, enough of the selection has been determined
on to make possible some comment on the basis of
selection. Except for the singularly overlooked
obstacles which arose in connection with the eligibility
of Senator Knox, Mr. Taft should have had an easier
task in selecting his Cabinet advisers than most of
his predecessors have had because he enjoyed an
unusually free hand in such selection. The difficulties which have ordinarily confronted our Presidentselect in choosing their Cabinet officers lay largely in
what may be called the personal aspects of politics.
It was, for instance, during a very considerable period,
almost a sine qua non of Cabinet selection that important rival candidates at the nominating convention
should be allowed a place in the Cabinet. This led,
on frequent occasions, to more or less embarrassing
results. The rival candidate might, and in fact was
[VOL. LXXXVTIT.
very apt to, represent a faction in the party hostile
to the successful candidate; or, if not that, he was
likely at least to be the embodiment of a section of the
party which was arrayed in antagonism against other
sections.
This was the case, for example, with Mr. Blaine,
when Garfield selected him for the State Department
in 1881, on the plain ground that Blaine had been his
most important rival candidate before the Republican
Convention. It will not have been forgotten to what
extent this selection of Mr. Blaine and the influence
which he immediately wielded in the matter of appointments, tore up the party, in New York particularly, and alienated for a long space of time the wing
of which Mr. Conkling was the head. In the case of
President Lincoln, the selection of Mr. Seward for the
State Department and the leadership of the Cabinet
was for similar reasons almost a foregone conclusion.
It would not be historically just to say that the results of this selection showed it to have been unwise,
but certainly it has been shown, in the light of evidence produced during the last few years, that with a
President less strong in his individual judgment than
Mr. Lincoln proved to be, Seward, at the outset of
the war, would have been a distinctly dangerous man
at the head of the Cabinet, and largely because of his
belief in his own superior political prestige.
Along with this assumed necessity of placating rival
candidates came a still more unpleasant political pressure to appoint Cabinet officers at the bidding of one
or another State delegation, whose change of vote at
the critical hour of the convention had brought about
the nomination. It was the Pennsylvania delegation
which, in 1860, really settled the riomination in favor
of Mr. Lincoln, and it was plainly as a result of that
incident that Mr. Cameron was appointed to the War
Department, really against Mr. Lincoln's will.
From difficulties of this sort Mr. Taft has been free
to an exceptional extent. The fact that no other candidate made a really formidable show against him at
the convention might of itself have been considered
as releasing him from such political obligations; but
more than this, the only candidates who at any time
cut a serious figure in the convention were, for other
reasons, out of the field of Cabinet selection; Mr.
Cannon being Speaker of the House and Mr. Hughes
Governor of New York. Mi.. Knox, it is true, was
named somewhat perfunctorily by the Pennsylvania
delegation, but it is doubtful if he could be regarded
as a candidate seriously in the field. This situation
left Mr. Taft embarrassed neither by the duty of placating a rival party faction or by convention pledges
and bargains made in his behalf.
His choice, nevertheless, could not be altogether
free. Perhaps all the more because of the absence
of such considerations, he was confronted with the
necessity of seeing that the different sections of the
country should be represented in the Cabinet. This
is an obvious enough political expedient, but as a
matter of fact, of rather recent growth, as may be
judged by the circumstance that Mr. Cleveland's
appointment of Hoke Smith as a Cabinet adviser and
Mr. Roosevelt's recent selection of Mr. Luke Wright
—both of these gentlement coming from the South
and representing the old Southern element—were
commented on at the time asinnovations. Probably
it is the growth of the country itself, and the great
FEB. 27 1909.1
THE CHRONICLE
development of special interests and aspirations in
the different sections, which account for the increasing
attention paid to the geographical consideration in
the selection of a Cabinet. As they appear to have
been tentatively selected, Mr. Taft's cabinet advisers
will hail from Pennsylvania, Illinois, Tennessee,
New York, Massachusetts, Iowa, Missouri, and the
State of Washington, and it has been an open secret
that the task of filling of certain Cabinet posts has been
made difficult chiefly by the fact that those departments had been allotted to specified sections of the
country.
Now, there are some advantages in this system of
selection, and its results in the past have in the main
been good. It certainly serves to keep the head of
the Administration in touch with the feelings,interests
and desires of citizens in all parts of the country,
and is of no slight political value, supposing the
selected officer to be a man of force, in holding the
party in line with the Administration. It serves, in
other words, to make good to some extent the lack
in our system of the English plan whereby the Cabinet
Minister has a seat in the House of Commons, and
can speak for the Government personally in parliamentary debates, and it is certainly a very desirable
substitute for the growing tendency in English politics
.whereby classes such as the labor group are avowedly
recognized in the selection of a ministry. But on the
other hand, it should be obvious that a scrupulous
attention to the plan of geographical selection may
operate to exclude some otherwise highly desirable
statesman from the Cabinet. There have been times,
notably, for instance, after the silver agitation of the
nineties, when it was difficult in the extreme to
choose a Cabinet which should be sound on economic
questions and yet which should meet the requirement
of representing all sections of the country. It remains
to be seen how far Mr. Taft's selection will ensure a
homogeneous Cabinet in its relations to the numerous
important public policies which will confront his
administration. The fact, already a matter of considerable comment, that six out of nine of the men
reported to have been selected are lawyers, like Mr.
Taft himself, adds curious interest to this phase
of the question.
RECENT CONSTITUTIONAL STRAINS.
It is fair to say that the Constitution of the United
States has never undergone a more severe strain than
in the period just coming to a close. A tidal wave of
radicalism, sometimes miscalled ethical progress, has
swept over the land, as if the Earth God himself were
shaking the foundations of government. It has now
barely receded enough for us to see the destruction
left in its path, and to doubt,with justice, whether any
fertilizing influence can repay the loss of liberty and
property. What security can any one find through
the courts when he is advised that he will be ruined
by a Public Service Commission's order if he does not
litigate, or by an ingenious system of fines and penalties if he does try to save himself? Such a law, comparable only to Oriental tyranny, stands upon the
statute books of New York to-day. Fortunately,
the examples which we have chosen come from cases
decided by the Supreme Court of the United States in
favor of the side of liberty and justice. In other matters the community is not so fortunate. The present
533
Employers' Liability bill was passed because the first
was declared to be a cheat upon the Constitution.
It is itself as much of a cheat as it seemed to be worth
while to sustain by argument in a court which had decided against the first. The "commodity" statute is
not yet overthrown, nor are we sure that its command
to a large class of our citizens and corporations to
refrain altogether from inter-State commerce may not
be sustained by some assumption in favor of the power
of Congress to do such a harm. The list is not complete, but we have said enough to indicate the way in
which innovation has run riot; and, always calling
itself by some fine name, such as ethics or progress,
has bent its strength against all constitutional limitations as an angry beast might strain at its bonds.
The present time is, however, one which the optimist may well contemplate with a momentary pleasure. Some few constitutional ends have been reached
by constitutional means. On the other hand, the
barrier of the courts has stood as a dam against the
flood, and as the latter recedes the courts show their
power again, not much weakened. While no one is
ever, satisfied with all the decisions of a court, we have
not grave cause to be dissatisfied with the general result. The Danbury hatters have found that the Court
would not discriminate in their favor, and they have
reason to believe that the same Court would hold that
the Legislature could not, if it would, issue a license
to any class to do wrong. Their case is typical of the
judicial temper of the time.
There is on this horizon one most serious cloud. One
strain has left the safeguards of the Constitution weakened with a permanent injury. A nefarious doctrine
has arisen and has operated with some success. This
teaches that the Constitution may wisely be amended,
not by any constitutional method, but by the use of
the "big stick." The advocates—we had almost said
the advocate—of this innovation have put it on the
ground that it was not politic to test a new law in the
courts when hysteria had made the public seem unanimous in its favor. One high politician threatened in
public discourse that if the railroads contested the
Employers' Liability bill all justice would be withheld from them by Congress until they submitted to
the yoke. This threat was unsuccessful. But there
is one quarter in which grave and substantial unconstitutionality bids fair to establish itself in our frame
of government without adequate resistance to the evil
which it brings, and without any sufficient test of
its validity. Precisely because public opinion, led
by the same voluminous thinker, declared that it was
so necessary that it must be constitutional, the recent
grant of power to the Inter-State Commerce Commission has not been properly contested. Whether, after
being established for a time, it will receive its just deserts in the courts is a question which time only can
answer. But that it is constitutional in a broad and
statesmanlike sense of the word does not seem to us
worthy of serious defence. In "Alice in Wonderland,"
Fury, the cat, said to the mouse: "I'll be judge, I'll
be jury." A law which says the same of the InterState Commerce Commission is none the better for
being in the statute book instead of the nonsense book.
And the law of 1906 does combine in the Inter-State
Commerce Commission the powers of administration
and prosecution; of judgment and of legislation. In a
country living under a constitutional division of the
534
THE CHRONICLE
powers of government, such a mixture goes against
that central feature of the Constitution.
We have not the time, nor is this article the place,
to discuss the evil which such a law must bring to the
land. Our desire at the moment is only to draw attention to the fact that the defence of property in the
courts against this law, while it might have been -unsuccessful, has not even been possible because of the
hysteria of the times. Public hysteria has said,
wherever a railroad could be threatened, that if the
law were not accepted and obeyed, justice in wholly
unrelated matters would be denied by legislatures
and executives wherever possible. And while some
cases are pending somewhere upon the dockets of
lower courts which attack particularly bad features
of the law, three years have nearly passed without an
effective test. We remember that the Income Tax
was decided unconstitutional practically before the
law imposing it was put into effect. There was no
reason against a like celerity here except the individual
and collective big stick. But again we insist that the
merit or demerit of the particular law is comparatively
a small evil. The force of the example is in the lesson
taught to those opposed to liberty and property that
they may measure hysteria against the Constitution
and win, altering the latter by the process of making
it commercially impossible to apply to the courts
for its construction. When the list of the great things
done during the past few years is written in the books
of history, those who are responsible for this innovation will have a fame paralleled only by that of the
Greek who set fire to a temple in order that his name
might go down to the ages as its destroyer.
RATE LEGISLATION AND ITS EFFECTS.
There is again considerable discussion of the effects
of the reduced rates imposed upon the railroads by
the action of railroad commissions and State legislatures. In our opinion this subject has not received
the attention and consideration which its importance
merits. During the late calendar year the gross
earnings of United States railroads were reduced
in a frightful way. Compilations presented in our
issue of February 13showed that for the twelve months
ending December 31 this loss reached the huge sum
of $290,140,542. Prodigious though this figure is, it
does not indicate the full amount ofthe shrinkage which
occurred in railroad revenues, for it covers
205,129 miles of road (being all the roads for which
it was possible to procure returns for this period of
twelve months), whereas the total length of road in the
United States exceeds 230,000 miles. It follows that
on the entire railroad mileage of the country the contraction must have been over $325,000,000.
It is generally assumed that this great shrinkage in
railroad receipts reflects business depression. In a
measure this is true. The volume of traffic passing
over the railroads was obviously much smaller than it
was the previous year. But it is not well to predicate
too much on this fact alone, lest it lead us into error.
Reduced rates have also played a part in the decline.
Everybody is aware, of course, that passenger rates
in a large number of States have been arbitrarily
marked down by the decrees of State railroad boards
and State legislatures. It is no less true that freight
rates on special articles and special classes of traffic
have been scaled down in a similar manner. A
portion, at least, of the falling off in earnings must
be ascribed to these lower rates, even if it be not
conceded that these lower rates have been one of the
main factors in the decline in revenues. It is thus
plain that these lower rates have accentuated the
effects of business depression as far as the railroads
are concerned, and have served to make the loss
of income very much larger than it would have been if
that influence had not existed.
But there is a still broader aspect of the matter.
How far is trade depression itself due to the unfortunate plight of the railroads? The losses in earnings
have been steadily piling up, month by month, and
obviously,with railroad income shortened $325,000,000,
the railroads have had just $325,000,000 less to
spend—$325,000,000 less to pay out for labor and
supplies and to apply in reproductive enterprises.
That, however, is not all. Long before earnings
began to fall off, the new capital supplies of the
railroads had been in great measure cut off. Their
credit had been undermined and the value of their
securities depreciated and impaired, as a result of
hostile action and the loss of confidence thereby
occasioned. The railroads have long been the most
important factor in the country's general activities,
and with the ability of the roads to place orders for
new rails, for new equipment, for new lines, new
bridges, &c., &c., diminished, both by reason of
shortened revenues and deficient capital supplies,
intense business depression has been the natural, the
inevitable consequence. We thus come back to our
first cause, and find that crippling the railroad transportation industry lies at the bottom of the intense
prostration of the country's industries.
This makes it apparent how important it is that an
analysis should be made of the effects of the rate
reductions forced upon the railroads. Unfortunately,
as far as the freight traffic is concerned there are no
data on which to proceed. Most of the reductions
have been in the case of specific articles or commodities, and the information contained in the
reports of the companies deals merely with general
averages. Unfortunately, these general averages are
affected by a great variety of circumstances and
conditions, so that it is not possible to find a clear
trace of the presence of any particular influence or
circumstance. In the case of passenger rates the
situation is entirely different. Here the general
averages form a pretty reliable guide to what is going
on. Accordingly, some attempts have been made to
compute the loss sustained by the railroads through
two-cent fare laws and other legislative and Governmental action reducing passenger rates. These computations are rough and imperfect, and they are also
only partial, and yet they serve as a good indication
of the extent to which revenues have been reduced.
As passenger traffic is always the last to feel the
effects of business depression, comparison of figures
of passenger earnings do not reveal the loss suffered
through lower rates. A railroad may show increased
passenger earnings by reason of a larger volume of
passenger traffic (necessitating also an increase in the
passenger service) and yet have sustained a serious
loss because of the lower rates imposed. To arrive
at correct conclusions, therefore, it is necessary to
carry the examination a step further, note the average
rate received, and then compute what the earnings
FEB. 27 1909.1
THE CHRONICLE
would have been if the carrier had realized the same
average as it obtained in the previous year.
A computation of this kind was made a few months
ago by Slason Thompson of the Bureau of Railway
News and the results are very striking. The Bureau referred to recently furnished a summary of the
passenger earnings of 27 railroads for the year ending
June 30 1908, with the average receipts per passenger
per mile in 1908 and 1907, and the loss produced
by two-cent legislation. In the case of seven of these
twenty-seven roads the loss exceeds over a million
dollars, and in one instance it reaches close to three
million dollars. The final figures show that as a
direct result of recent passenger fare legislation and
regulations in twenty-two States, the twenty-seven
roads referred to doing business in such States suffered
a loss of $19,619,345 in their passenger revenues
during the year ending June 30 1908. That the loss
was not very much larger is due to the fact that the
business of the twenty-seven roads was not confined
to the States which have undertaken to reduce passenger rates.
It is also important to understand that the twentyseven roads taken for purpose of illustration operate
no more than 96,385 miles of line, or only about
41% of the mileage of the country. If the reduction
in average rate were applied to the entire passenger
movement in the United States, the loss would reach
no less than $58,000,000. This last computation is
given merely to show how important even relatively
small declines in rates are when applied to such a large
mileage. That there was no such loss as $58,000,000
is due to the fact that many of the States have not
taken action to compel reductions in rates. Mr.
Thompson, in presenting his tables, well said that the
arbitrary depletion of passenger revenues by statutes
can only result in throwing increased burdens on the
freight traffic, which ever since the Civil War has
been making good the deficit in the passenger service.
Some further evidence to the same effect might
be adduced besides that given by Mr. Thompson.
We notice that his table of twenty-seven roads does
not include the Atlantic Coast Line Railroad, whose
experience in the matter of reduced passenger rates is
particularly valuable and instructive. We have
twice recently referred to the remarks and figures
on the subject contained in the company's annual
report, but they are worth adverting to again for
purpose of further illustration, and to reinforce the
lesson taught by the figures above. By agreement
with the railroad commissions of most of the States
served by the Atlantic Coast system there was put
into effect on April 1 1908, as.an experiment, reduced
passenger rates, including 2-cents-per-mile interchangeable mileage tickets.
The figures given
show that the experiment is proving a costly one.
The company had a large increase in through travel
during the winter months to and from Southern
resorts, but this came to an end with the month of
April. As the result of this increase in travel, passenger revenues for April still showed an increase of $33,735, as compared with the corresponding month in
1907. But in May passenger receipts, as compared
with 1907, fell off $49,384, in June $95,782, in July
$92,122, in August $115,939 and in September $104,664. In other words, in the five months following
April (the last month of the heavy through travel),
535
passenger revenues fell off no less than $457,891,
equal to 17.8 per cent. Of this, $164,000, the report
says, is to be attributed to the holding of the Jamestown Exposition last year, and of the remainder an
average of $50,000 per month is due to the lower
passenger rates.
In view of all these facts and figures, is it possible
any longer to seriously contend that the railroads
are not suffering severely as the result of reduced
rates? And this being so, should not the movement
now being made to obtain slightly better rates in
the freight service as well as the passenger service
be encouraged instead of opposed?
THE REPORT AGAINST THE TENNESSEE
COAL de IRON MERGER.
One of the events which has contributed in no unimportant degree to this week's demoralization in
the shares of the U. S. Steel Corporation and the
stock market generally, has been the adverse report
made last Saturday by the sub-committep Of the Senate
Committee on Judiciary which has had under investigation the action of the United States Steel Corporation
in taking over the shares of the Tennessee Coal & Iron
Co. at the height of the panic in October and November 1907. Such a result was wholly unlooked for,
as it is admitted by all well informed persons that the
act of the Steel Corporation on the occasion referred to
prevented general disaster which at the moment
threatened to overwhelm the whole country. The
text of the sub-committee's report has not been made
public, but is said to be strongly condemnatory of the
transaction and to severely criticize Mr. Roosevelt
for having given implied sanction to the arrangement
by indicating that the Government would not interfere
if it should be carried out. It seems incredible
that there should be even a remote likelihood that
the full Committee on Judiciary at its meeting next
week will adopt the report of the sub-committee,
and yet the news dispatches all tell us that the vote
will be very close, and that the outcome can by no
means be predicted with certainty.
That any considerable number of the members of
such a committee as the Senate Judiciary Committee
should, with a full knowledge of the facts, wish to
publicly stigmatize one of the most important relief
measures of the memorable financial cataclysm of 1907
is not very creditable to that eminent body. It is contended by those who now wish to arraign all parties
to that notable transaction that the act in question
involved a number of gravely objectionable features.
In the first place, we are told, it was a violation of
the Anti-Trust Law. We do not think that our
highest Court—should the case come before it and
its members be obliged to study the question—
could ever be got to condemn the proceeding. The
Steel people proceeded very cautiously in this
matter. In view of the fact that the Administration had been conducting numerous prosecutions under the Anti-Trust Law, they felt that
though, in their estimation, the transaction might
be in entire conformance with the spirit and purpose
of the law, yet there was a possibility that it might
at some time be attacked or called in question. Before
concluding the arrangement, therefore, Judge Gary
and H. C. Frick went to Washington to see what were
the views of the President and his legal advisers. Of
536
THE CHRONICLE
[Vol- Lxxxvm.
course this committee also apprised the President of time that some $20,000,000 was out in loans on the
the reason for the proposed action, told him how shares. Possibly this may have been an exaggeration
extremely critical the situation was and what the to the extent of a few millions, but that the amount
primary object of the move was.
at stake was very considerable is unquestionable. It
There can be no doubt that the state,of things was in seems to be admitted that one large brokerage house
the highest degree alarming when the two Steel men would have failed if the Tennessee shares had not been
made their call upon the President and there can be no converted into a realizable asset through exchange for
doubt either that the purchase of the Tennessee Coal & Steel Corporation bonds. This failure would have
Iron Co. by the U.S. Steel Corporation was, as we have been a serious matter at the time of such general gloom
termed it above, a relief measure which had precisely and confusion, coming after the many other failures.
the effect intended and without which widespread But really it would have been the least disturbing
ruin would have ensued. The panic is only fifteen feature connected with the whole affair. The vulmonths behind us and yet some of the most important nerable point, the point that needed fortification at
incidents connected with it seem already to have once, was the loans the various banking institutions
passed out of mind. Strangest of all, the most of us had made on these shares.
are forgetting how dire was the necessity at that time.
The identity of these institutions has n ot been
From a financial standpoint the object of the whole definitely established, but there were, according to
arrangement was to provide a readily marketable se- all reports, not a few of them. If these institutions
curity for one which had no market at all. The Steel had been forced to close out their loans and to throw
Corporation gave its sinking fund 5 per cent bonds in the shares upon the market for what they would bring,
exchange for Tennessee Coal & Iron shares. A great there is very much reason to fear that several of them
deal of sympathy is being wasted on those who held would have gone to the wall. The amount involved
control of the Tennessee Company at that time. The in the case of any one of these institutions might have
truth is, the stock was held in large blocks among a been only a million or two, but their position had
very few men who were engaged in a speculative already been so greatly weakened through the general
venture and who for the most part held merely an collapse in security values that with such an additional
equity in the shares. To say this is to say that the loss their downfall would have been inevitable.
bulk of these shares was tied up in loans with the
Now consider what the effects of some more bankbanks and trust companies.
ing failures at that moment would have been. Banks
These financial institutions found themselves in a and trust companies in large number had already
position where to meet the drain for money from all become embarrassed all over the country and the monquarters they were obliged to call these loans, and etary tension was such that the strain was being felt
where in the inability of the borrowers to meet the call all over the world. The interview with the President
the collateral back of the loans—the Tennessee shares took place on the Monday before election, namely
—could not be disposed of. There was only a very Nov. 4. The panic itself had developed two weeks
limited market for even the highest grade of securities before. At the time of the original crisis in October,
at that time, and for a cliqued stock there was really immediate and very extensive relief had been extended
no market at all. Transactions in the shares had for by all interests—that is, by banks and financial instimonths been on an extremely narrow scale and any tutions, by private bankers and men of means, and by
attempt on the part of the financial institutions with the Government itself. That sufficed for the time
which they had been pledged to realize on the same on being. But confidence had not been restored. The
the Stock Exchange would have meant their complete run on the Trust Company of America and on one or
sacrifice.
two other trust companies had continued and another
As far, then, as these shareholders are concerned, crisis was threatening even more serious than the first.
they must be considered as having been extremely The New York Clearing-House bank statement for
fortunate in having been able to make a bargain, and Saturday, Nov. 2, had shown a deficiency below the
a very good one at that, with the Steel Corporation. required reserves of no less than $38,838,825. So
In all the various independent steel properties which urgent and dangerous appeared the prospect that
have been footballs of speculation on the New York Mr. J. P. Morgan, who had previously done yeoman
Stock Exchange in recent years, speculative cliques service in straightening out the financial tangle,
have at one time or another held control, with the idea again found it necessary to take the helm, and renewed
that they could eventually saddle the same upon the conferences with leading banking and financial interSteel Corporation. The syndicate which was operat- ests were held. These conferences were continued
ing in the Tennessee Coal & Iron shares had a better through the whole of Sunday and Sunday night, and
and more desirable property than any of these, but in fact lasted until 5 o'clock Monday morning.
otherwise their position and proceeding was precisely
As a result of these conferences two chief relief
akin to that of these other cliques.
measures were determined upon, and they were of
The plight of the financial institutions which found about equal importance. One was the extending of
themselves burdened with these Tennessee shares was assistance to the beleaguered trust companies which
what furnished occasion for gravest concern. Their were still suffering from a run of their depositors, and
salvation was a matter of supreme importance. Just the other was the vitalizing of the assets of those banks
how much money these institutions had tied up in that were unfortunate enough to hold Tennessee
loans on Tennessee shares is not known,and probably Coal & Iron shares among their collateral for loans.
will never be disclosed, since the banks and trust The latter step was dependent upon a satisfactory
companies which had advanced money on the shares outcome of the interview to be held with the President
would naturally be chary about giving publicity to at Washington. Judge Gary and Mr. Frick at once
the fact. It was common report, however, at the proceeded on their mission and when the. news was
FEB. 27 1909.1
THE CHRONICLE
received by wire that the Government did not consider the proposal vulnerable and that the Steel Corporation might absorb the Tennessee company, the
situation at once cleared up. From that moment the
panic was a thing of the past. The next day, being
Election Day and therefore a holiday, there was opportunity for the trust companies to perfect their
plan of relief. This last could have been of no avail
if some more banks and financial institutions had
been allowed to go down because of their holdings
of Tennessee shares. Thereafter improvement was
steady and uninterrupted.
One newspaper critic has been quoted as saying
that there was general astonishment among the members of the Senate Judiciary Committee that such a
large deal as this, involving $30,000,000, "could be
consummated without the exchange of a penny."
That any intelligent man should make or repeat a
criticism of this description, so soon after the events
referred to, shows how short memories are. The fact
that no cash was required was the strongest point in
the whole arrangement. The Steel Corporation had
$30,000,000 of cash with the banks at the time which
could have been used for the purpose, but the withdrawal of that amount of money at the time would have
precipitated the very disaster which financial interests
were so strenuously seeking to avert. In the week
in which this transaction was announced, cash money
was commanding a premium of 3@4 per cent and the
Bank of England rate was advanced to 7 per cent,
the highest figure reached since the panic of 1873.
Interior banks all over the country were draining the
city banks of their cash. The Secretary of the Treasury, after having enormously increased Government
deposits with the banks,found it necessary after the
middle of November to go still further and invite
bids for $50,000,000 Panama Canal 2 per cents and
$100,000,000 one-year 3 per cent certificates of indebtedness, with a view to providing a basis for additional bank-note circulation to meet the insatiable
demand for currency from all parts of the country.
Furthermore, during October and November 100 millions gold was engaged for import to the United States.
To express astonishment now at no cash having passed
in the acquisition of the Tennessee property is to betray
the deepest ignorance.
As to the advantages accruing to the Steel Corporation, we may assume that it got the Tennessee
property on favorable terms; the directors obviously
would have been faithless to their trust if, even to
relieve the financial stress, they had not made sure of
getting a full equivalent for the money paid out.
But with equal candor denial must be given to the
suggestion that those interested in the Steel Corporation had been scheming to get possession of the property, or had been engaged in an attempt to freeze
out the owners of the Tennessee company. The predicament in which these owners found themselves
was of their own making. The price they got was not
extravagant but was extremely liberal under the
circumstances. It deserves to be remembered, too,
that the Steel Corporation bonds which they received
in exchange and which were put in on a market value
of 84 have since advanced over 20 points and are even
now after this week's decline selling at 103. If there
had been any desire to squeeze out these owners on the
part of the Steel men, the policy would have been not
537
to protect the banks, but to force them to sell out, in
which event the whole outfit could have been secured
for a mere song.
Finally, as far as the application of the Anti-Trust
Law to the transaction is concerned, it is to be said
that the Steel Corporation and the Coal & Iron Company can hardly be considered as having been rivals
at all in the true sense of the word. In acquiring
the Tennessee Company, the Steel Corporation is
simply occupying new territory. There are two ways
of occupying new territory. One of these ways is by
building an entirely new plant. Another is to buy
up a plant already in existence. The first of these
methods the Steel Corporation is pursuing in the erection of its new plant at Gary, the largest in the world.
The second method it adopted when it took over the
Tennessee Company.
As we pointed out in discussing the transaction
when it occurred, the Tennessee Company and the
Steel Corporation do not cater to a common market,
speaking of their products as a whole. The iron and
steel plants of the former company have their own
distinct territory and so have each of the numerous
plants of the Steel Corporation. Iron and steel products, by reason oftheir bulky nature,cannot be carried
long distances to market with profit. For this reason
it was hardly possible for the Steel Corporation to
have entered the territory of the Tennessee Company
as a competitor nor for the latter to have entered any
of the numerous districts in the Middle and Middle
Western States served by the Steel Corporation. How
under these circumstances any respectable body of
Senators can be seriously contemplating to report
against the transaction as being in violation of law,
and undertake to censure the President for his course
in connection with it, passes comprehension.
RAILROAD
GROSS AND
NET EARNINGS
FOR DECEMBER.
The elaborate compilations of the gross and net
earniny: of United States railroads which we presented
last week in our new special monthly publication,
-the "Railway Earninie Section, are useful in indicating the marked change for the better which is taking place in the comparisons of earnings, both gross
and net. Two main circumstances explain this
change for the better. December of the previous year
was the first month to feel the effects of the prostration of the country's industries following the financial
revulsion and panic in October and November. Accordingly, there was a large loss in the gross revenues
of the country's railway transportation lines, and as
comparison now i with that period of depression
and reduced revenues, our present totals hence show
considerable increase, reflecting the recovery which
has occurred.
As far as the net earnings are concerned, there has
been a second main factor tending to produce improvement. By the practice of extreme economy, railroad
managers have succeeded in bringing about marked
curtailment in expenditures. This is the reverse of
the situation which had prevailed in December 1907.
Then railroad expenditures were still running ahead,
in face of a notable contraction in railroad revenues.
The railroads had not yet got control of their expense
accounts, and, besides, the necessity for curtailing
538
disbursements had not yet become very apparent. At
that time trade depression was still in its incipiency,
and was mistakenly looked upon as transient and ephemeral in character, quickly to be followed by a return
of the old state of activity and prosperity—expectations
which, as every one knows, were entirely disappointed.
From this stage, where disbursements were still made
with a very liberal hand, the railroads have now been
forced to the diametrically opposite extreme, where
outlays are limited to the most urgent and imperative
necessities. The combination of these two rather
unusual elements—larger gross and smaller expenses—
is serving to give a very gratifying appearance to the
net results.
It is almost superfluous to say that, from a broad
and general standpoint, a situation where such
large employers of labor and such large consumers of materials, supplies and fuel as the railroads
are obliged most rigidly to contract their outgoes,
does not reveal a state of things from which a great
deal of comfort can be drawn in any large aspect. It
means that the depression in trade, which in the first
instance had its origin in the inability of the railroads to raise further new capital supplies to carry on
their improvement and extension work, and then was
intensified by the tremendous shrinkage in the revenues of the roads, is still in considerable measure unrelieved. That fact may explain why trade revival,
which started so hopefully last autumn, when it became apparent that Mr. Bryan would again be defeated in his Presidential aspirations, has latterly
been lagging again. Economy is being practiced by
the roads because it is a matter of self-preservation
with 'them. A continuation of the conditions existing immediately after the panic, when railroad earnings were declining in a frightful way while the disbursements continued undiminished and in some instances actually increased, would have meant general
bankruptcy for the roads, even the best and strongest
failing to escape. That was an outcome that had
to be averted at all hazards.
We make these preliminary remarks that there may
be no misunderstanding of the purport and significance of the favorable results which the comparisons
of earnings are now disclosing. Taking the returns
for December of 234 roads, comprising altogether 223,790 miles of line, we find an increase in gross earnings
over the reduced figures of the previous year of $10,774,779. At the same time expenses, as compared
with the heavy totals of the previous year, were reduced in amount of $5,656,317. Accordingly, there
is an improvement in net in the very respectable
amount of $16,431,096. Our present summaries
cover about 97% of the total railrpad mileage of the
country. In the previous year our statement on a
smaller mileage showed $11,471,359 loss in gross earnings, and we estimated that for the whole railroad system of the country the loss must have been $15,000,000. Our compilation of the net earnings at that time
was much less comprehensive, a number of the roads
having withheld the customary returns because of
their unfavorable nature. However, the general
character of the result then is indicated by the fact
that for the roads reporting there was a loss of $9,112,667 in gross and, coincidently, an augmentation
of $2,531,381 in expenses, producing, therefore, a loss
in net of $11,644,048.
[VOL. Lxxxvm.
THE CHRONICLE
In view of the fact that the incompleteness of the
previous year's figures makes comparison with the
1908 totals in a measure unreliable, it will be better
to take the ratios of change in the two years as a guide
to the actual character of the returns in the two years
—the extent of the loss in the earlier year and the extent of the recovery in the later year. In December
1907 the figures showed 6.45% falling off in gross and
no less than 25.31% loss in the net. Our present statement, comparing with these heavily diminished totals of 1907, records 5.27% gain in gross and 31.16%
improvement in the net.
1908.
December (234 roads)—
223,790
Mlles of road
$215,251,439
Gross earnings
146,098,890
Operating expenses
Net earnings
$69,152,549
1907.
220,920
$204,476,660
151,755,207
—Increase or Decrease—
Amount. Per Cent.
Inc.
2,870
1.30
Inc. $10,774,779
5.27
Dec. 5,656,317
3.73
$52,721,453
Inc. $16,431,096 31.16
The reader need hardly to be told that the
marked change for the better shown by the general
totals is also noted in the case of the several groups
and geographical divisions. In December 1907 there
was only one group that did not record a loss in gross
and none that did not record a loss in the net. On
this occasion every group and geographical division
shows a gain in both gross and net, the ratios of improvement in the net in several instances being represented by very large figures, as may be seen from the
following:
SUMMARY BY GROUPS.
Net Earnings.
Gross Earnings.
Section or
Group.
1908.
December.
New England(13)
Trunk Lines (15)Anthra Coal (9)-East & Mid (20).._
Mid West (50)--Nor West and
Nor Pac (35)__
South West and
Sou Pac (39)_
Southern (53)_ _
1907.
1908.
1907.
Inc.(-1--)orDec.(—)
$
$
$
$
%
$
+48,256 2.40
9,093,413 8,732,430 2,056,531 2,008,275
52,593,807 50,152,332 14,680,517 9,571,972 +5,108,54553.37
+671,37313.27
13,952,841 13,661,539 5,731,764 5,060,391
+486,35836.54
6,347,101 5,995,298 1,817,359 1,331,001
16,196,357 15,232,823 4,190,486 2,848,643 +1,341,84347.11
46,386,602 44,998,970 16,901,274 14,886,559 +2,014,71513.53
45,287,403 42,974,426 15,255,542 12,198,215 +3,057,32725.06
25,393,915 22,728,842 8,519,076 4.816,397 +3.702.67976.87
215,251,439 204,476,660 69,152,549 52,721,453 +10,431,09631.10
Total (234)__
5,307,716
Mexican (6)
5,971,117 2,177,013 1,928,801
+248,212 12.87
Mileage —The mileage for the above groups is as follows: New England, 7,209
miles In 1908, against 7,211 In 1907; Trunk Lines, 29,605, against 29,582; Anthracite Coal, 5,742. against 5,739; Eastern & Middle, 4,750, against 4,728; Middle
Western, 16,499, against 16,298; Northwest & North Pacific, 63,833, against 62,740;
Southwest & South Pacific, 61,167, against 60,163; Southern, 34,985, against
34,459; grand total, 223,790, against 220,920; Mexican, 6,783, against 6,762.
We add the following table, showing the December
grand totals as registered by our tables each year for
the last twelve years.
Net Earnings.
Gross Earnings.
Year.
Year
Given.
Year
Preceding.
Dec.
51,220,114 52,520,887
1896
67,542,721 59,449,009
1897
1898 -.- 70,810.178 66,979,889
1899 _
78,244,324 71,010,127
1900 _ _ 90,789,657 81,465,495
1901 _ 96,268,122 92,628,031
104,232,385 93,160,941
1902 _
106,978,224 102,928,990
1003
116,253,981 108,670,412
1904
1905 _ 133,775,020 110,125,948
1906 -.- 135,735,226 124,733,435
1907 .._. 132,199,762 141,312,429
1908 .._ _ 215,251,439 204,476,660
Increase or
Decrease.
Year
Given.
Increase or
Year
Preceding, Decrease
—47,294
—1,300,773 17,883,104 17,930,398
+8,093,712 23,700,713 20,129,314 +3,571,399
+3,830,289 24,790,227 23,220,664 +1,569,563
+7,234,197 27,637,073 24,908,012 +2,729,061
+9,324,162 33,093,800 20,056,298 +4,037,502
—412,559
+3,639,191 33,354,272 33,766,831
+11,071,444 33,245,049 30,891,659 +2,353,390
+4,049,234 33,726,576 34,199,785
—473,209
+7,583,569 36,794,527 32,411,588 +4,382,939
+14,649,072 46,525,454 38,842,111 +7,683,343
+887,282
+11,001,791 43,831,182 42,943,900
—9,112,667 34,354,158 45,998,206 —11,644,048
+10,774,779 69,152,540 52,721,453 +16,431,096
Note.—In 1896 the number of roads Included for the month of December was 128:
in 1897, 130; In 1898, 122; In 1899, 110; In 1900, 121; In 1901, 104; In 1902, 105;
In 1903, 99; In 1904, 95; In 1905, 96; In 1906, 96; in 1907, 89; In 1908, 234. We no
longer Include the Mexican roads or the coal-mining operations of the anthracite
coal roads In our totals.
As far as the separate roads are concerned, there is
little to say beyond making the statement that the
general character of the showing is much like that
revealed by the grand totals. There are some striking records of gains in gross and net alike, just as in
the previous year there were some heavy and startling
losses. As would be expected, however, there are a
few roads that form exceptions to the rule of improvement. It is not necessary to dwell on these. They
are set out in the table which follows, which also shows
all the principal gains in both gross and net.
FEB. 27 1909.)
THE CHRONICLE
539
•
-With the co-operation of representatives of the National
Monetary Commission, Comptroller of the Currency Lawrence
0. Murray intends to make inquiry into the classes of money
paid into banks and used in payments between individuals.
According to the New York "Journal of Commerce," the in..
quiry will follow practically the same lines as that of a
similar investigation instituted by Comptroller Eckels some
years ago. It is being conducted under the supervision of
Prof. David Kinley of the University of Illinois. The banks
are to be asked to ascertain the percentages of different
classes of money and currency appearing in their deposits
on a given date; this procedure is expected to show the
proportion of credit instruments entering into the operations
of the banks as well as the proportions of such instruments
to cash employed by private individuals in their dealings
with one another. It is further intended to endeavor to
ascertain from the banks what proportion of their deposits
as shown on their books at a given time as having been
credited to the various depositors appears there as the result
of the actual deposit of cash and what proportion has been
acquired by the making of loans by the banks.
-Guaranty-deposit bills have failed of passage in two
Western States. In Oregon, a measure known as the Orton
Guaranty bill was killed in the House on the 16th inst.,
without debate,and in North Dakota a like fate was accorded
a bill for guaranteeing deposits along the lines advocated in
the Democratic national platform, the House having on
the 18th inst. defeated the measure by a vote of 61 to 31.
-A resolution expressing opposition to the passage at the
present time of any law guaranteeing deposits was adopted
at a meeting of the First District Bankers' organization of the
Texas B ankers' Association on the 16th inst. The bankers
also placed themselves on record as opposed to the enactment
of the bill now before Congress providing for the establishment of postal savings banks.
-The guaranty of bank deposits is also opposed by the'
bankers of Tennessee. The several groups in the State
Bankers' Association, namely, the West Tennessee Grout,
the East Tennessee Group and the Middle Tennessee Group,
at meetings held respectively on the 17th, the 18th and the
22d, adopted resolutions giving voice to their opposition to
the principle involved in the guaranty proposition.
-A delegation representing savings ban interests registered a protest against the establishment of postal savings
banks with the House Committee on Post Offices and Post
Roads, at Washington on the 25th inst. The committee
was composed of Lucius Teter, President of the Chicago
Savings Bank & Trust Co.; Col. Charles E. Sprague, President of the Union Dime Savings Institution of New York,
and William Hanhart, Secretary of the Savings Bank Section
of the American Bankers' Association.
-Postal savings banks are scathingly condemned in an
open letter addressed by Andrew J. Frame, President of the
Waukesha National Bank of Waukesha, Wis., to the Congressional Committee which will take up the postal bank
proposition. Mr. Frame terms the project as tyrannical,
and propounds the question as to whether this land, "which
has prospered beyond all the nations of time, is to open the
door of tyranny by entering into competition with its own
worthy citizens in one of the great avenues of nation building"? The contention by its advocates that the law will
bring from hiding sums of money now hoarded by distrustful
people and foreigners, is not shared in by Mr. Frame, who
rightly says that there are distrustful people in every land
who will hoard money no matter how good the banks, or
ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S. even the government, may be. As an instance, he cites the
-The public sales of bank stocks this week aggregate 92 French people "pulling out of their stockings the $1,000,000,shares, of which 74 shares were sold at auction and 1 8 shares 000 indemnity paid to Germany after the Franco-Prussian
at the Stock Exchange. The transactions in trust company War, and to-day those same people are the greatest hoarders
stocks reach a total of 13 shares. Three shares of Trust of cash of any progressive nation on earth, notwithstanding
Co. of America stock were sold at 32 53', an advance of 26
France has a postal savings bank." Mr. Frame, in conclupoints over the price paid in Nov. 1908, when the last previous sion, states that while he is not a pessimist, he believes it a
sale was made.
to sound a warning against enacting into law
Last previous sale. patriotic duty
Low, High. Close.
Shares. BANKS-New York.
Feb 1909- 188
188
185
would "be an entering wedge to the paralyzing
that
•18 Commerce, Nat. Bank of... 185
fallacy
a
Feb 1908- 500
450
450
40 German Exchange Bank_ _- - 450
influences of paternalism, under the guise of philanthropy,
13 AN K-Brooklyn.
Nov 1907- 280
235
235
235
34 Mechanics' Bank
when all history teaches that paternalism deadens human
TRUST COMPANIES-New York.
Feb 1909- 230
238 Y., 238
20 Lawyers' Title Ins. & Tr. Co. 238
progress."
Nov 1908- 299
325% 325% 3253
3 Trust Co. of America
TRUST COMPANY-Brooklyn.
-The organization of a clearing-house association was
175
1908Aug
167
167
167
10 Nassau Trust Co
perfected in Duluth, Minn. It includes, according
recently
Sold at the Stock Exchange.
PRINCIPAL CHANGES IN GROSS EARNINGS IN DECEMBER.
Increases.
Increases.
$52,932
y$919,900 Delaware & Hudson_ _ _ _
Pennsylvania (2)
52,638
Pacific
Union
707,310
Southern Railway
51,789
641,656 Kansas City Southern__ _
Chicago & North Western
51,384
Pac
Texas
N
&
0
Cinc
_
__
628,492
Fran_
San
&
Louis
St.
51,089
_
Erie_
Lake
&
619,695 Bessemer
Louisville & Nashville_ _ _
50,500
594,354 Buff Roch ee. Pittsburgh_
Chicago Burl & Quincy..
50,167
547,439 Wheeling & Lake Erie
Missouri Pacific (2)
48,794
537,298 Elgin Joliet & Eastern
Canadian Pacific
47,364
519,378 Union RR (of Pa)
Rock Island
44,309
366,145 Bangor & AroostoOk_ _
Chic Milw & St Paul_ __ _
44,112
357,588 St I., Brownsv & Mex
Baltimore & Ohio
39,787
a351,884 Western Maryland
N Y Cent & Hudson Ely_
39,653
337,818 Port Reading
Clev Cinc Chic & St Louis
38,280
288,498 Louisiana & Arkansas_ -Missouri Kansas & Texas
36,578
-Norfolk__
&
N
Phila
Y
271,946
Sou..
Mich
&
Shore
Lake
36.480
_
_
Southern.._
251,047 Arizona &
Erie
33,010
z243,104 Alabama Gt Southern.._ _
Philadelphia ec. Reading_
32,934
Southern___
&
Norfolk
Line
239,018
Atlantic Coast
32,708
227,283 Wisconsin Central
St Louis Southwestern
31,730
209,922 Peoria & Eastern
Pittsb & Lake Erie__ _ _
31,198
Shore
So
&
Newburgh
209,540
Seaboard Air Line
183,042
NYNH& Hartford....
133,408
Norfolk & Western
163,316
Trinity & Brazos Valley
Representing 70 roads
134,680
Illinois Central
in our compilation_ _$12,506,340
131,046
Wabash
Decreases.
127,969
Chic St Paul Minn & Om_
$487,661
125,208 Northern Pacific
Cinc Hamilton & Dayton
480,450
Pacific
123,003 Southern
Internet & Great North_
453,561
113,455 Great Northern (2)
Chesapeake & Ohio
155,241
Ry
Trunk
Grand
111,294
&
Maine
Boston
150,646
M
S
S
103,469 Minn St Paul &
Chicago & Alton
140,542
97,848 Lehigh Valley
Yazoo & Miss Valley_ _ _ _
107,074
Coast
Pacific
88,464
Mobile & Ohio
76,812
84,697 Central of New Jersey
Chicago Great Western_ _
74,172
82,617 Southern Indiana
Long Island
53,964
Atlantic
&
Ches
Bait
81,837
Del Lackawanna & West
49,193
81,535 Det Gr Hay & Milw
N Y Ontario & Western_
48,602
77,252 Wabash & Pitts Ter_ _
San Ant & Aran Pass
44,590
76,408 San Ped Los Ang & S L
Butte Anaconda & Pac_
42,738
66,872 Denver & Rio Grande.._..
Chic Ind & Louisville
40,248
Montana
66,837
Central of Georgia
31,334
62,794 Green Bay & Western...
Nashv Chatt & St Louis.
31,300
59,438 West Jersey & Seashore_
LakeErie & Western...
55,210
Minneap & St Louis
Representing 18 roads
54,590
Chic Cin & Louisv
In our compilation... $2,468,128
53,300
Phila Baito & Wash__ -the number of
Note.-Figures in parenthesis'after name of road indicate
our compilations.
lines or companies for which separate returns are given in
York Central
New
the
of
the
operations
merely
a These figures cover
roads, like the
itself. Including the various auxiliary and controlled
Plate," &c.,
Michigan Central, the Lake Shore, the "Big Four", the "Nickel
is a gain
the whole going to form the New York Central System, the result
of $1,344,324.
Company
Iron
&
Coal
the
Company:
Railroad
the
for
are
figures
zThese
reports a decrease of $287,122.
of Pittsy These figures cover the lines directly operated east and west and the
burgh and Erie. The gross on Eastern lines increased $355,100
$564,800.
gross on Western lines increased
PRINCIPAL CHANGES IN NET EARNINGS IN DECEMBER.
Increases.
Increases.
868,720
y$1,294,700 Wheeling & Lake Erie__
Pennsylvania (2)
67,598
_
_
_
&
Aroostook_
Bangor
1,094,419
Louisville & Nlshville
66,783
1,026,997 Chic Lake Shore & E ___
Lake Shore & Mich Sou
61,53
Lake
.._
&
Erie
Bessemer
990,618
Quincy_
&
Burl
Chicago
60,536
Ohio
&
Mobile
973,929
Atch Top & Santa Fe_
53,598
902,213 Lehigh Valley
Baltimore & Ohio
52,386
a878,778 Grand Rapids & Ind_ _ _
N Y Cent & Hud River__
49,154
738,308 Alabama Great Southern
Erie
46,891
564,758 Union RR (of Pa)
Union Pacific
46,262
561,730 Chic Ind & Southern_
Southern Railway
45,906
486,905 Chic Ind & Louisville__
Southern Pacific
44,814
.._
L.
St
of
Assn
Terminal
430,612
Western
&
Chicago North
43,682
Maine
&
Boston
345,710
Atlantic Coast Line
43,094
344,923 Det Toledo & Ironton...
St Louis & San Francisco
38,696
Marquette
Pere
326,605
Norfolk & Western
37,214
Col
&
Akron
Philadelphia & Reading.. z304,504 Ceveland
34,328
Valley
Hocking
294,954
Ohio
&
Chesapeake
34,320
Island
Shiro
&
Gulf
289,865
Missouri Pacific (2).____
34,137
289,431 Norfolk & Southern_ __ _
Ciev Cinc Chic & St Louis
33,569
275,394 Louisiana & Arkansas___
Seaboard Air Line
32,550
246,643 Chic Cinc & Loulsv __ _
Illinois Central
32,242
Southern
Arizona
192,492
Val
Brazos
Trinintv &
31,296
189,220 Toledo St Louis & Western
Chic Milw & St Paul_ __ _
30,701
184,319 Georgia RR
Del Lackawanna & West
30,180
_
Southern_
Washington
166,279
Long Island
30,018
Reading
Port
145,845
Rock Island
142,713
Cinc Ham & Dayton_ ___
Representing 76 roads
140,079
Delaware & Hudson__
In our compilation_ _$16,915,274
139,147
St Louis Southwestern__
136,493
Western..
Trunk
Grand
128,775
San Ped Los Ang & Salt L
Decreases.
126,840
Wabash
$301,237
124,373 Grand Trunk By
Cinc New On & Tex Pao_
247,109
'119,563 Northern Pacific
Canadian Pacific
147,295
105,154 Minn St P ecSSM
Internet & Great North_
135,084
_
_
Rio
Grande_
&
Denver
103,005
Indiana Harbor Belt __
80,078
98,235 Great Northern
Buffalo Roch & Pitts_ __ _
67,390
97,463 Central of New Jersey_
Missouri Kansas & Texas
60,730
95,773 N Y N H & Hartford_ _ _ _
Kansas City Southern__ _
42,682
95,013 Detroit & Mackinac
Yazoo & Miss Valley_ ___
38,813
_
_
_
Term__
Wabash-Pitts
94,827
Central of Georgia
37,996
90,152 Iowa Central
Duluth Niissabe & No_ _ _
36,199
85,812 Southern Indiana
Vandalla
32,223
Southern....
&
Colorado
81,299
Pitts & Lake Erie
75,529
Chicago & Alton
Representing 12 roads
72,379
Chic St Paul Minn & Om..
in our compilation__ $1,226,906
72,298
Texas & Pacific
a‘These figures cover merely the operations of the New York Central
itself. For the New York Central System the result is a gain of $2,435,693.
x These figures are for the Railroad Company; the Coal & Iron Company
reports a decrease of $16,024.
y These figures cover lines directly operated east and west of Pittsburgh
and Erie. The net on Eastern lines increased $383,000 and the net on
Western lines increased $911,700.
•
540
THE CHRONICLE
to the "Commercial West",the First National, City National,
Northern National and the American Exchange banks.
The officers are: President, A. L. Ordean, President of the
First National; Vice-Presidents, W. G. Hegardt, Cashier
of the American Exchange Bank, and W. I. Prince, Cashier
of the City National Bank; Secretary and Treasurer, J. W.
Lyder Jr., Cashier of the Northern National Bank,
and
Manager Isaac S. Moore, Assistant Cashier of the
American
Exchange Bank. A clearing-house association
existed in
Duluth some years ago. It was organized in March
1887
but stopped reporting in November 1894.
[VOL.
Lxxxvm.
—The week of September 13 has been fixed as the time
for the holding of the annual convention of the American
Bankers' Association, which is to take place, as previously
announced, in Chicago. The date was decided upon at
a
conference had last week by President Reynolds and Secretary Farnsworth, with the Chicago Clearing House banks.
The fact that the convention is to be somewhat earlier
than
the meetings of recent years is expected to result in a larger
attendance of members from the South whose attention
is
generally taken up the latter part of September with
the
moving of cotton crops. In accordance with arrangeme
nts
made with the Congress Hotel Company, operating
—Two rulings on matters pertaining to banking
the
were
Congress Hotel, the Annex and the Auditorium, these
recently rendered by Attorney-General U. G.
hotels
Denman
will be the headquarters, and the Hotel Company has promof Ohio, in response to queries of B. B. Seymour,
State
ised all available and required space for registration, Sections,
Superintendent of Banks. In one instance the
AttorneyCouncil and committee meetings in these buildings.
General has decided that the operation of a banking
Local
business
by department and dry goods stores is unlawful, it being committees of Chicago bankers will be named in the near
held that the character of such a concern does not entitle future.
It is announced that the spring meeting of the Executive
it to engage in this line. The question as to the right of
the
proprietors of department stores to form themselve
Council will probably be held the week of May 3; the exact
s into a
separate banking concern in accordance with
date and place will be decided upon later.
the laws
governing the latter, is, it is stated, not touched
—On the 19th inst. the Executive Committee of the
upon; the
decision, it is understood, will therefore affect few
of the Clearing-House Section of the American Bankers' Association
banks conducted in connection with the dry-goods
stores, closed a meeting at the Commercial National Bank, Chicago,
as the majority are said to be private banks operated
under which had extended over several days. The sessions were
the name of one of the officers of the company.
devoted to a discussion of the work of the Section, and to
The other point covered by the Attorney-General
applies reviewing the plans outlined at a former meeting. It was
to the question of financial institutions dealing in
real the opinion of the Committee that the campaign inaugurated,
estate. According to the opinion of Mr. Denman, rendered recommending clearing
-house examiners for cities, should
on the 10th inst., institutions operating under the
Thomas be kept up and that the large clearing-house cities should
banking law are prohibited both from dealing in real
estate be given full information as to the advantages of this plan.
and acting as agents or solicitors for insurance companies
The system of letters and numbers on checks and drafts in
.
—After several week's discussion at Minneapolis on the the banks of the twenty-five largest cities was also reviewed
question of organizing a stock exchange, the matter took and the report made that very many of the banks were
shape in the filing February 9 of articles of incorporation for adopting the plan. The Secretary was instructed to comthe Minneapolis Stock Exchange. The incorporators are municate with the banks frequently on the subject, with a
Eugene M. Stevens and Edward T. Chapman of Eugene M. view to its universal adoption.
—Henry Seligman, of the family of bankers of that
Stevens & Co., dealers in commercial paper and investmen
t
securities; Chas. E. Lewis and Todd Lewis of Chas. Lewis name, died on the 20th inst. at his home at Frankfort-on& Co., grain and stock dealers; William A. Durst, Secretary the-Main, Germany. Mr. Seligman was eighty years of
of the Minnesota Loan & Trust Co.; Denman Johnson of age. Born in Germany, he came to this country at an
Piper, Johnson & Case, grain and stock dealers; Geo. B. early age, and with his brothers/helped build up the present
Lane, dealer in commercial paper and investment securities; extensive banking business conducted by the Seligmans.
A. J. Kane, dealer in municipal and corporation securities, In the fifties he established the California branch of the
and Fred A. Likely, editor of "Finance and Commerce." house and later went to Frankfort, where he organized
Officers elected were Euguene M. Stevens, President; Chas. another branch known as Seligtnan & Stettheimer, since
E. Lewis, Vice-President; Fred. E. Likely, Secretary, and dissolved, which during the Civil War furnished the United
Edward T. Chapman, Treasurer. The board of directors States Government valuable assistance in the placing of its
is made up of W. A. Durst, D. F. Johnson, Geo. B. Lane, bonds.
Eugene M. Stevens and Chas. E. Lewis. The membership,
—The Hudson Trust Company of this city moved last
it is reported, will probably be limited to twenty. While Monday to the old quarters of the defunct New Amsterdam
the intention is to have three "calls" or sessions a week for National Bank, on the northwest corner of Broadway and
the present, it is believed that the organization of an ex- 39th Street. The Hudson Trust Company's new location in
change will so stimulate business in local securities that the Metropolitan Opera House Building is in every way
daily calls will be inauguarated in the near future.
more desirable than its former offices at 147 West 42d
—A new method of classifying the resources and liabilities Street near Broadway. The banking rooms and the safe
of the State banks of Illinois was put into effect with the call deposit vaults establishment have been entirely renovated
of State Auditor McCullough for a report of condition of the and the interior of both present an attractive appearance.
banks on the 6th inst. The report was on a new bank form, The officers of the bank were kept busy this week attending
modeled, so the Chicago "Evening Post" states, after the to the new accounts opened by merchants in the neighboruniform classification adopted by the National Association hood.
of State Bank Supervisors at its annual meeting in Minne—It is understood that Mr. E. H. Harriman a short time
apolis last July. The principal changes in the form of since increased his holdings of the stock of the Guaranty
report, as detailed in the,"Post", concern the items of loans Trust Co. of this city by purchasing one-half of the $864,800
and discounts and bonds and stocks. Loans and discounts, stock in the company held by the Mutual Life Insurance
formerly reported as one item, are now classified under three Co. The Mutual Life has had other bids for this stock, but
heads—loans on real estate, loans on collateral security and Mr. Harriman's offer was better than any of them. On Jan.1
other loans and discounts. Bonds and stocks which had 1909 the Guaranty Trust Co.'s gross deposits were $69,heretofore been made to consist of twe items, now embrace 031,398 and during this week touched $85,0013,000.
five—United States bonds; state, county and municipal
—The Phenix National Bank of this city, which for the
bonds; public service corporation bonds; other bonds, and past few
years has made it a practice to issue annually a
stocks of corporations. According to the "Post", the items detailed
statement showing not only its condition but the
of cash on hand have been reduced from seven to four
by character and value of its assets, presents its fourth yearly
combining all the currency under one head instead of four. report of
this kind under date of the 5th inst., the time set
There is little change, it is stated, with regard to the details by the
Comptroller of the Currency for a return of condition
of liabilities, attention, however, being directed to the ruling of the banks.
The report indicates that none of the officers
of the State Auditor that certificates of deposit issued to or directors
is liable to the institution, individually or
other banks must be shown as "due to banks"and not otherwise,
as payers, indorsers, or guarantors. The actual
included with other deposits.
market value of the bonds and securities figuring in the
_
FlIB. 27 1909
THE CHRONICLE
541
l gives his liabilities as $146,083 and his assets as
resources is estimated at $553,650, while the amount at Trumbul
which they are carried on the books is $327,504. The $50,391.
Co.for
—C.S. W.Packard, President of the Pennsylvania
average reserve for the last thirty days on deposits and
phia,
Philadel
of
s,
Annuitie
has
on
Granting
instituti
and
Lives
on
es
The
Insuranc
bank balances is reported as 26.1%.
Franklin
the
of
directors
of
d
has become a member of the board
a capital of $1,000,000, a surplus of $500,000 and undivide
profits of $133,065. Its aggregate resources are $12,673,699. National Bank of that city.
—W. W. Ramsey, former President of the German Na—E. V. Connolly, formerly Assistant Cashier of the
Cashier,
tional Bank of Pittsburgh, who was indicted last month cn
Aetna National Bank of this city, has become
.
ng
bribery charges, was found guilty on the 18th inst. The
Dennison
James
succeedi
this
charges concerned the payment to a Councilman of $17,500
—Control of the National Safe Deposit Company of
&
Mortgage
secure the passage of an ordinance making the bank a
to
States
city has been acquired by the United
of the instituTrust Company through the purchase of the interest hereto- city depositary. A. A. Vilsack, ex-Cashier
turned State's
charges,
Safe
similar
The
on
was
indicted
Co.
who
tion,
e
fore held by the Mutual Life Insuranc
Deposit Company has a capital of $200,000. Its vaults evidence against Mr. Ramsey.
—Articles of incorporation for a new Pittsburgh trust
adjoin the offices of the trust company. The U.S. Mortgage
filed
& Trust Co. already operates extensive safe deposit depart- company—the Sterling Trust Company—have been
$200,of
and
Street
capital
a
73rd
have
is
to
at
on
The
Del.
instituti
Dover,
at
ments in connection with its branches
000.
125th Street.
—James Richey Jr., President of the Real Estate Savings
—Willard E. Edmister was this week elected President
to
h
'Boroug
n
Brookly
of
y
Trust Company of Allegheny, Pa., died on the 23d inst.
&
Compan
n
Trust
of the Hamilto
has Mr. Richey had been at the head of the institution since its
succeed the late Silas B. Dutcher. Mr. Edmister, who
of
been a 'trustee of the company for several years, was Mr. organization, six years ago. He was sixty-nine years
r
adirecte
is
He
.
death.
business
his
age at the time of
Dutchers' partner in the insurance
the
—Oliver F. Piper, ex-Cashier of the failed People's Bank
of the Metropolitan Bank of Manhattan, a trustee of
the New of California, Pa., was sentenced on the 22d inst. to two and
Union Dime Savings Institution and a member of
a half years' imprisonment on charges of conspiracy and emYork Chamber of Commerce.
iary
—Plans for the establishment of a new bank at Coney bezzlement. A sentence of two years in the penitent
with
d,
convicte
rst
,
Thirty-fi
Lenhart
L.
the
of
William
a
at
meeting
on
known
has been imposed
Island were made
the bank.
Ward Board of Trade on the 19th inst. The organization Cashier Piper, on charges of conspiracy to defraud
granted.
been
has
ement
case
announc
latter
the
the
to
g
in
on,
for
accordin
An appeal asked
of the proposed instituti
In the Brooklyn "Eagle," is being undertaken by Harold The institution suspended in November 1907.
A. Davidson, formerly President of the Lafayette Trust
—The board of directors of the Montgomery Trust ComCompany, now in course of liquidation. The name of the pany of Norristown, Pa., adopted on the 20th inst. minutes
bank is to be the Seaside National, and it is to have a capital bespeaking their regret at the resignation from the presiof $100,000. The stock will be in shares of $100 each, and dency of Dr. John M. Jacobs, and attesting to their appreciathe hordings of any one subscriber will be limited to five tion of his ability and labors in behalf of the institution since
shares. It is expected to open the new institution about 1890, when he was chosen as its head. Dr. Jacobsretires beApril 1.
cause of his desire to be free from business cares, he having
—W.F. Sadler Jr. has replaced 0.0. Bowman as President reached the age of seventy years.
of the Broad Street National Bank of Trenton, N. J.
—James McGregor, President of the Home Savings Bank
Cashier
t
Assistan
as
of Detroit, died on the 19th inst. after an illness of several
—Charles C. Bullock Jr. has resigned
months. Mr. McGregor was also a member of the board of
of the First National Bank of Albany, N. Y.
the
of
the Detroit Trust Co. and Vice-President of the Detroit &
—James C. Howe was elected Vice-President
to
d Navigation Co. Ile was born in Scotland in May
inst.
Clevelan
24th
the
on
Boston
of
y
American Trust Compan
ago
emigrated to Canada in 1858. In 1860 he located
and
1830
succeed James H. Perkins, who resigned some, months
becoming Superintendent of the car department
ial
in
Commerc
Detroit,
National
the
of
sident
to become a Vice-Pre
& Milwaukee RR. He later served as GenDetroit
of the
Bank of Albany, N. Y.
of the Michigan Car Works, and subendent
Superint
eral
of
y
Compan
Trust
—The stockholders of the Beacon
Superintendent of the Michigan PeninGeneral
as
y
Boston, Mass., at a special meeting on Wednesday approved sequentl
his connection with the latter in
severing
Co.,
Car
sular
ng
increasi
capital,
the
to
the proposed addition of $200,000
n to the Home Savings Bank.
attentio
his
devote
to
it from $400,000 to $600,000. They also ratified a change 1897
of
Illinois, of which ex-Comptroller
Co.
Trust
Central
from
d
—The
increase
be
to
is
in the by-laws whereby the board
G. Dawes is President,
Charles
Currency
twenty-five to thirty-five members. The changes are of United States
of the Royal Trust
week
the
in
early
purchase
its
es
National
Hall
announc
the
Faneuil
of
over
incidental to the taking
B. Wilbur has
James
on
instituti
which
Bank, arrangements for which were recently completed. The Co., Chicago, of
In this merger
1891.
in
tion
organiza
its
since
t
ders
Presiden
been
sharehol
to
its
is
offered
new stock of the trust company
ated business
consolid
the
name,
its
loses
the Royal Trust Co.
of record February 24 at $200 per share—par $100.
its elegant and
at
Co.
Trust
Central
the
by
done
being
been
has
—The New England Trust Company of Boston
on Monroe St.—the former home of
enjoying an expansion in business beginning Jan. 1 1907, commodious building
The North Side State Savings
Bank.
National
Chicago
the
This
time.
continuing throughout 1908 until the present
President Wilbur, also passes
by
d
controlle
growth is most noticeable in deposits, which reached $23,- Bank, which was
Trust in this deal. The
Central
the
of
control
the
under
31
r
Decembe
258,013 February 1 1909 and were $21,047,274
increase its deposits to
will
n,
accessio
new
its
1908; $16,450,782 June 30 1908,and $14,620,693 on Decem- latter, with
6 the Royal Trust
Feb.
On
000.
$17,500,
ately
approxim
special
and
ber 311007. The company's trusts under wills
472 and the
$12,304,
had
Trust
Central
the
33,
• greements (separate from deposits) were $10,291,476 had $4,922,7
Central Trust
The
.
$516,987
had
Savings
State
Side
North
last.
1st
y
and total resources we re $36,820,513 Februar
of $2,000,000 and surplus and profits of $840,000*
The executive staff includes: David R. Whitney, President; has a capital
a capital of $500,000 and surplus and profits
had
Royal
The
l
Nathanie
Charles F. Choate, Alexander Cochrane and
North Side State has a capital of $50,000.
The
.
$552,422
Thayer, Vice-Presidents; James R. Hooper, Actuary; Henry of
$10,650. It is reported that the price
about
are
profits
Its
Asst.
and
r
N. Marr,.Secretary; F. W. Allen, Treasure
of the Royal Trust was but slightly
the
control
obtain
Secretary; T. E. Eaton, Asst. Treasurer; F. R. Jewett, paid to
book value at the time of its last
its
share;
per
$300
under
on's
instituti
the
Trust Officer, and C. E. Nott, Manager of
Edwin F. Mack, who was
$210.
t
was
statemen
d
large safe-deposit establishment. The Chairman of the publishe
Royal, becomes T Li (1
the
of
and
nt
Cashier
-Preside
Vice
board of directors is William Endicott.
Co.
Trust
Central
of
the
nt
Vice-Preside
—Walter H. Trumbull, formerly a partner in the failed
— According to an order of Judge Kohlsaat, F. A. Potter,
firm of E. II. Gay & Co., filed a voluntary petition in bankthe American Guaranty Co. of Chicago, is "to
ruptcy on the 19th inst. The bankruptcy proceedings, it is receiver for
Royal Trust Co. funds on deposit with the latter
the
from
H.
get
stated, involve the failure of the banking firm of W.
. The funds are held by the Royal as
Trumbull & Co., 35 of Congress Street, Boston. Mr. amounting to $566,719
542
THE CHRONICLE
security for7the1estate:of Charles L. Furey, Preside
nt of the
Guaranty Co., and the trust company had
opposed the
transfer of the same to the receiver on the ground
that its
agreement with the Guaranty Co. was with
the policy-
[VoL. Lxxxvm.
—A pamphlet quite out of the ordinary run
of those issued
by financial institutions, styled "The Bank Lady,"
comes to
us from the Portland Trust Co. of Portlan
d, Ore. Written
by a woman, Miss Anna Mynott Docking, of a
woman, Harholders, to whom it was to make direct payment
in the event riet E. Moorehouse, the Superintendent
of the Woman's Deof the dissolution of the company. In the opinion
of Judge partment of the trust company, the
booklet is intended for
Kohlsaat the Royal Trust Co. "has no
information by the perusal of women. It gives
an insight into the various
which it can determine the particular contrac
t holders, their capacities in which the "bank
lady's" calling requires her
names, numbers and residences." The
receiver has another to serve, and the knowledge,
patience, tact and sympathy
fund beside that held by the Royal, and
Judge Kohlsaat called into play to handle the
many and varied problems
expressed it as his belief that the entire fund could be more present
ed to her. The Portland Trust, it is
stated, was the
economically and more satisfactorily
administered through first bank on the Pacific Coast
to establish a woman's deone channel, the receiver.
partment, and Miss Moorehouse is the pioneer
of her profes—The Supreme Court of Illinois on the 19th inst. affirme sion in the Northwest.
d
the decision of the criminal and appellat
e courts in the
—The purchase of the Western Bank of
Canada (head ofconviction of President Abner Smith
and Vice-President fice Oshawa, Ont.) by the Standard Bank
of Canada (head
Gustav F. Sorrow of the failed Bank of
America of Chicago office Toronto) took effect on the 16th inst.,
according to the
on charges of misappropriating funds of the
institution. It is report submitted at the annual meeting of the latter
on Feb.
stated that a petition for a rehearing will
probably be filed 17. Under the agreement, the Standard Bank
paid $160
before the Supreme Court Judges.
for the stock of the acquired bank (par $100), togethe
r with
• —The City National Bank of Oshkosh,Wis.,began
interest at the rate of 5% per annum from the date
of the
business
on the 23d inst. as successor to the National Union Bank, agreement (Oct. 1 1908) to the date of the absorption. The
which was placed in voluntary liquidation
on Saturday last, acquisition gives the Standard 27 new branches. The net
Feb. 20. The City National has a capital
of $200,000. Its profits of the Standard for the year ending Jan. 30 1909 were
officers are George Bauman, President; J.
E. Morgan, Vice- $283,065. The institution recently took action toward inPresident, and A. T. Hennig, Cashier.
creasing its paid-up capital, reported Jan. 30 1909 as $1,562,500, to $2,000,000. The bank pays dividends of 12%
—An application to convert the Americ
an Exchange
per annum. Its total assets in the annual statement were
Bank of Duluth, Minn., into the Americ
an Exchange Nagiven as 821,162,287—this amount, it is noted, not includtional Bank was approved by the Comptroller
of the Currency
ing the assets of the Western Bank.
on the 16th inst. The capital will continue at
$500,000.
—A third vice-presidency has been created
in the Mississippi Valley Trust Company of St. Louis, to
which William
G. Lackey, Bond Officer of the institution, has been
elected.
Mr. Lackey, who was made a member of the board
English Financial Markets—Per Cable.
of directors on the 1st inst., retains the post of Bond Officer.
The daily closing quotations for securities, Scc., at London,
George
Kingsland, formerly Assistant Real Estate Officer,
has been as reported by cable, have been as follows the past week:
'chosen Real Estate Officer, to succeed Tom W.
London.
Bennett,
Week ending Feb. 26.
sca.
resigned.
Mon.
Tues.
Wed. Thurs.
Frt.
Silver, per oz
d 23 7-16 23 5-16 23 5-16 23 7-16 23 5-16 23 546
Consols, new,2% per cents-- 84%
83 15-16 83%
84
83%
84 5-16
—The Planters' National Bank of St. Louis is the
For
account
84 3-16 84
name French
84 7-16
83 15-16 83%
84
Rentes (In Paris)_fr_ 97.85 97.77% 97.77% 97.6734
97.57% 97.75
decided upon by W. F. Churchman, Harry M.
Rubey, Amalgamated Copper Co
74%
71%
72%
71
es%
73%
bAnaconda
Mining
Co
0
Robert Meyer, August Heman and Lon V. Stephens for
8
8%
8%
their Atchison Topeka & Santa Fe.1043j
163103
;i
104%
103%
101%
Preferred
projected institution. The title originally selected
104105
104%
105
104
was the Baltimore & Ohio
110%
108%
115%
107%
109%
109
Preferred
Commercial National Bank, and the change was made
9595
95%
05%
95%
in Canadian Pacific
176%
1/5-3
170%
175%
11,
1,% c169%
deference to the wishes of• the officers of the Commerc
Chesapeake & Ohio
67%
65%
66%
66%
ial Chicago Great
66%
..
74
Western
7%
7%
-__
7%
7
7%
Trust Company. The new bank is to have a capital
of $1,- Chicago Milw. & St. Paul__ _148%
145%
147% 144%
145%
__Denver & Rio Grande, corn_ 46%
42
43%
45%
45%
43%
000,000 and surplus of $250,000.
Preferred
89%
85
87
87%
87%
85
Erie, common
27
27%
—W. J. Thomas, who had been acting President
First Preferred
43
V%
43
VU
of the Second
II
Preferred
36%
36%
34
32%
33%
Southern National Bank of Louisville since the
Illinois
Centml
142
145
142%
144
144
resignation
142
__Louisville & Nashville
129
129%
129
129
130%
128%
of James S. Escott, a year ago, has been duly elected
2121
to the Mexican Central
20%
20
20%
Mo. Kansas & Texas, corn._ 42
presidency. P. N. Clark succeeds Mr. Thomas
4-6;.‘
38
40%
37%
38%
as First
Preferred
73
75
74%
74%
.-73%
National
RR.
of Mexico_
44%44
Vice-President and F. N. Lewis has become
42
42
42
Second Vice- N.Y.Central & Hudson Riv.129%
124%
126%
1iI-3125
128%
President.
N. Y. Ontario & Western.-- 47
44%
44%
46%
46
45
Norfolk & Western, common 91
88
88%
89
89
88%
Preferred
8989
88
—H. P. Colville has recently become Cashier of the
88%
88%
'Ger- Northern Pacific
139%
141
139
141%
iii.
%
140
aPennsylvania
man National Bank of Covington, Ky.,
65
65%
67
66%
65%
._,
66
succeeding George aReading
66%
62%
62%
65%
6on
62
E. Engel, who is now a Vice-President of
aFirst Preferred_ ..
47
47
46%
47
46%
--the bank.
aSecond Preferred
46
46%
46%
46%
_._
46%
Rock Island
24%23%
22,4
22%
—The proposition to increase the capital
22%
of the Commer- Southern Pacific
118%
119%
120%
118%
1iiV%
119
Southern Railway, common_ 25%
cial Savings Bank of Charleston, S. C.,
23%
24%
24
gl%
lq
g
from $50,000 to
64%
62%
64
63
P
r
e
f
d
$100,000 was ratified by the stockholders
Pacific, common
180%
178
181
181%
c175% 177%
on the 18th inst. Union
9897%
Preferred
08
98
98
The new stock will be issued at not less
43%
44%
48%
than $115 per $100 U. S. Steel Corp., common
43%
.
44%
Preferred
124
IL
11%
114
110%
112
share.
Wabash
18%
17%
1
17
Preferred
47%
44
49%
44%
48
44%
—The People's National Bank of New
Extended 4s
77
75
78
75
--76
Orleans was placed
in voluntary liquidation on January 29.
a Price per share. b £ sterling c Ex-dividend.
inn etalT3Toinutercia gngitsitgews
12%
—The Trinity National Bank of Dallas, Tex.,
formed last
month with a capital of $600,000, began busines
s on the
15th inst. The first day's deposits were said
to exceed
$2,000,000, the amount including $800,000 of
the city's
funds, the account of J. Howard Ardrey, as City
Treasurer,
having been transferred from the Gaston Nationa
l to the
new bank. Mr. Ardrey, who assisted in the
organization of
the Trinity National, and is its Cashier, was formerly
Cashier
of the Gaston National. The other officers of the
new bank
are J. B. Wilson, President; R. H. Stewart, Vice
-President,
and Lang Wharton, Assistant Cashier. On the
20th inst.
the Trinity National was also the successful bidder
for the
county funds, its offer of 33i% having been accepte
d. The
only other bidder was the American Exchan
ge National
Bank, which offered 3%.
&min ercial and Wiscellaneernsttews
National Banks.—The following information regarding
national banks is from the office of the Comptroller
of the
Currency,Treasury Department.
APPLICATIONS TO CONVERT INTO NATIONAL
BANKS
APPROVED.
Savings Bank of Lawrenceville, Va., into "The First National
Bank of
Lawrenceville." Capital, $40,000.
The People's State Bank, Turlock, Cal., into "The Turlock
National
Bank." Capital, $40,000.
The American Exchange Bank of Duluth, Minn., into
"American Exchange National Bank of Duluth." Capital, $500,000.
NATIONAL BANKS ORGANIZED,
Certificates Issued from Feb. 15 to Feb. 17.
9,343—The American National Bank of Danville,
Va. Capital, $100,000
H. 0. Kerns, President; W. H. Barker, Cashier.
9,344—The Penbrook National Bank, Penbrook
,
Capital, $25, 00,
W. H. Wolf, President; John A. Ebersole, Pa.
Vice-President; W. R.
Faust, Cashier.
543
THE CHRONICLE
FEB. 27 1909.1
Books Closed.
When
$25,000'
Per
9,345-The Loganton National Bank, Loganton, Pa. Capital,
Days Inclusive.
Cent. Payable.
Name of Company.
T. R. Harter, President; G. S. Boone, Vice-President; W. A. Morris, Cashier.
Banks.
Capital, $50,000.
9,346-The First National Bank of Monticello. Ga.
234 Itch. 1 Feb. 26 to Feb. 28
L. 0. Benton, President; R. L. Forse, Vice-President; E. Clyde Chemical National (It-monthly)
Bich. 1 Feb. 16 to Mch. 1
2
Copper, National (guar.) (No. 1)
Kelly, Cashier; Taney 0. Benton, Assistant Cashier.
$200,000. Nineteenth Ward (monthly) (No. 32)... 13% Feb. 27 Holders of rec. Feb. 24
9,347-The City National Bank of Oshkosh, Wis. Capital,
T.
A.
-President;
Companies.
Trust
Vice
Morgan,
George Bauman, President; J. E.
234 Mch. 1 Holders of rec. Feb. 15
Citizens, Brooklyn (No. 1)
Hennig, Cashier.
J. R. Van Norden (monthly)(No. 22)
Feb. 27 Holders of rec. Feb 25
1
9,348-Ontario National Bank, Ontario, Ore. Capital, $60,000.
Emison,
R.
C.
Miscellaneous.
131ackaby, President; L. Adam, Vice-President;
Mch. 1 Feb. 19 to Mch. 1
5
American Coal
Cashier.
$30,000. American Express (guar.)
April 1 Holders of rec. Feb. 27
$3
9,349-The El Centro National Bank, El Centro, Cal. Capital,
common
(quar.)
Radiator,
American
134 Mch. 31 Mch. 25 to Itch. 31
F. B. Fuller, President; True Vencill, Cashier.
Itch. 31 Mch. 25 to Mch. 31
2
(extra)
Common
NS.
VOLUNTARY LIQUIDATIO
Amer. Smelters Securities, pref. A (guar.) 134 Bich. 1 Feb. 20 to Itch 1
13% Bich. 1 Feb. 20 to Bich. 1
Preferred B (quar.)
7,528-The People's National Bank of Economy, Pa., Feb. 1 1909.
Am.tiSugar ltefg., corn. & pref. (guar.) 1% April 2 Holders of rec. Mch. 1
8,577-The First National Bank of Raw City, Okla., Feb. 3 1909.
1909.
& Cable, guar. (quar.) 13% Bich. 1 Feb. 16 to Bich. 1
Telegraph
Amer.
6,602-The Farmers' National Bank of Vinita, Okla., Feb. 11
234 Bich. 1 Feb. 14 to Mch. 10
7,600-The Arkansas Valley National Bank of Broken Arrow, Okla., American Tobacco, common (quar.)._
Mch. 1 Feb. 14 to Mch. 10
5
Common (extra)
Feb. 15 1909.
Mch. 1 Feb. 25 to Mch. 1
Associated Merchants, common (guar.)
6,285-The First National Bank of Hanley Falls, Minn., Feb. 15 1909.
1909.
20
Feb.
Common (extra)
4.508-The National Union Bank of Oshkosh, Wis.,
34 Mch. 1 Feb. 25 to Itch. 1
134 Itch. 15 Bich. 6 to Mch 15
Borden's Condensed Milk, pref. (guar.)._
-The
STATES.
April 1 Feb. 18 to Feb. 28
UNITED
3
(No.
34)
Gas
Union
Brooklyn
THE
IMMIGRATION INTO
% Mch. 1 Holders of rec. Feb. 15
ButterIck Company (guar.)
subjoined statement, compiled from the monthly statements Calumet
(quar.)
Mch. 19 Holders of rec. Feb. 19
Mining
IIecla
&
$5
1% Apr11 1 Holders of rec. Mch. 10
issued by the Bureau of Immigration and Naturalization of Central Leather, pref (guar.)
common (guar.)
134 Bich. 10 Mch. 5 to Mch. 10
number
Company,
Childs
the
shows
Labor,
and
of
Commerce
the Department
Preferred (guar.)
1% Bich. 10 Mch. 5 to Mali. 10
April 1
of immigrant aliens admitted into the United States during Consolidated Cotton Duck, pref
1
Mch. 15.Holders of rec. Feb. 17
1908-09,
(guar.)
Y.
1
N.
Gas,
year
Consolidated
fiscal
the
of
the
and
seven months
January
Mch. 15 Holders of rec. Feb. 26
2
Diamond Match
for
figures
ng
correspondi
of
comparison
and for purposes
duPorit(E.I.)de Nemours Powd.,com.(gu.) 13% Mch. 15 Holders of rec. Bich. 5
134 April 26 Holders of rec. April 15
Preferred (quarterly)
1907-08 and 1906-07 are appended:
234 April 1 Holders of rec. Feb. 27
Eastman Kodak, common (guar.)
From
134 A, ril 1 Holders of rec. Feb. 27
(quar)
Preferred
AU
Other
Russia de United
Austria13% Mcb. 15 Holders of rec. Feb. 26
Other. Total. Federal Mg. de Smelt., pref. (guar.)
Italy. Finland.Kingdom. Europe.
Hungary.
Months134 Bich. 1 Feb. 18 to Feb. 28
(guar-)
6,332 27,570 General Asphalt, Preferred
5,147
4,068
July
6,198
3,374
2,451
1
Itch. 1 Holders of rec. Feb 23
6,213 27,782 General Chemical, common (guar.)
5.312
4,699
2,468
5.494
3,896
August
2
April 15 Holders of rec. Bich. 5a
(guar.)
Electric
General
6,972 38,238
7,501
6,177
7.727
5,625
4,236
September
8)
194 Mch. 1 Feb. 16 to Mch. 1
40,994 Internat. Harvester, pref. (guar.)(No.
7,966
8,759
7,483
4,536
5,241
October
7,009
4 April 1 Feb. 28 to April 1
13,
(guar.)
pref.
Silver,
International
37,076
8,727
5,252
4,138
6,088
4,581
8,290
November
Bich. 1 Feb. 19 to Feb. 28
Power (guar.) 2
7,822 46,003 Kings County Elec. Lt. de
4,775
2,980
7,679
134 Mch. 15 Mch. 7 to Mch. 15
13,623
December
9,124
6,475 43,868 Laclede Gas, common (quar.)
3,743
2,124
7,424
January
16,364
7,738
3
Bich. 1 Feb. 24 to Mch. 1
Lord d: Taylor, pref
Holders of rec. Feb. 15
Michigan State Telephone, corn. (guar.) 134 Mch. 1
1 April 18 to May 2
35,839 44,846 31,669 40,489 50,507 261,531
7:mos. 1908-09 58,181
134 May
(quar.)
Preferred
27,220
4,889
4,786
2,406
8,283
2,833
of rec. Mch 29
15
January 1908_ _ 4,023
April
Holders
42)
(No.
134
(guar.)
corn.
Nat.
Biscuit,
617,434
7 mos. 1907-08..A48,275 103,341 130,625 62,523 111,968 60,702
13% Feb. 27 Holders of rec. Feb.15a
Preferred (quar.)(No. 44)
54,417
8,816
7,292
3,393
7,272 11,625
16,019
January 1907
1.1
April 1 Itch. 13 to Mch. 16
(guar.)
common
Lead,
National
595,814
13% Mch. 15 Feb. 20 to Feb. 24
7 mos. 1906-07_ A45,740 115,684 138,383 55,075 93,019 47,013
Pretsrred (guar.)(No. 69)
4,858 5 ,127
5,284
3,131
10,382
11,229
January 1906... 16,243
134 Bich. 20 Mch. 14 to Bich. 21
-Pond, common (quar.)_
50,402 76,513 47,033 470,815 Niles-Bement
7 mos. 1905-06_114,891 101,440 89,536
1% April 1 Holders of rec. Mch. 15
North American
154 April 15 Holders of rec. April 5
Quaker Oats, common (guar.)
54 April 15 Holders of rec. April 5
Common (extra)
134 Feb. 27 Holders of rec. Feb. 17
Auction Sales.-Among other securities the following, not
Preferred (quar.)
Bich. 22 Itch. 2 to Mch. 3
auction.
$1
Quincy Mining (quar.)
regularly dealt in at the Board, were recently sold at
1% Mch. 20 Bich. 11 to Itch. 21
Railway Steel Spring, pref. (quar.)
By. Messrs. Adrian H. Muller & Son:
Mch. 1 Holders of rec. Feb.19a
134
corn.
Iron,
(quar.)
Sloss-Sheffield Steel &
Mch. 15 Holders of rec. Feb. 19
$15
Bonds.
Standard 011 (guar.)
Stocks.
1 Holders of rec. Feb. 25
Bich.
I%
Co.
RR.
(quar)
Marquette
pref.
Pere
Mfrs.,
$7,000
Cigar
United
&
Cheese
R.
Easton
G.
10 The
Bich. 1 Feb. 16 to Mch. 1
3
80 & int. Ti. S. Envelope, preferred
ref. 4s, 1955, J & J
$75 lot
Cold Storage Co
134 April 1 Holders of rec. Mch. 10
UnUed States Leather pref. (guar.)
$1 per sh. $10,000 Havana Tobacco Co.
60 Acadia Coal Co
34 Mch. 30 Bich. 16 to AprI119
20-year 5s, J. & D___$61 34 & int. U. S. Steel Corp., corn. (qu.)(No. 21)
28 Procter & Gamble Co.,com.387
I% Bich. 1 Feb. 4 to Bich. 1
Preferred (guar.) (No. 31)
$17,000 Cin. Ham. de Day. RR.
20 Germania Life Insur. Co...231
50c. Mch. 31 Holders of rec. Bich. 19
Utah Copper (quar.)
434% coll. tr. notes (Central
4 Continental Insurance Co.1470
Trust Co. certs. of deposit)- - 55
20 Lawyers' Title Ins.& Tr.Co.238
a Transfer books not closed.
&
3 Trust Co. of America
32534 $25,000 Pitts. Westmoreland
RR. 1st 5s, with
Somerset
Bklyn_235
34 Mechanics Bank of
Imports and Exports for the Week.-The following are
subsequent
and
April 1910
4 Trow Directory, Printing &
coupons attached. Also notes
20
the imports at New York for the week ending Feb. 20; also
Bookbinding Co
due
coupons
for
1918
doe
sh.
per
5 Westchester Press_ $8.50
10
totals since the beginning of the first week in January:
1908 and 1909
40 German Exchange Bank...A50
FOREIGN IMPORTS AT NEW YORK.
$39,000 United Breweries Co.
167
10 Nassau Trust Co
A.
&
F.
1928,
f.,
s.
6s,
1st
39
100 Ann Arbor RR. pref
1906.
int.
&
41
1907.
1908. I
1909.
For Week.
20 N. Y. Mtge. & Security Co_ 190%
$10,000 Yankee Fuel Co. 1st 5s,
Bonds.
$2,909,838
40
$4,248,589
52,935,3471
$4,041,593
0
&
A.
1926,
Dry Goods
$5,000 Laramie Hahns Peak &
5,425,221 11,058,048
9,742,3121
17,112,156
$1,000 New Amsterdam Gas Co.
General Merchandise
90
Pao. By. Co. 1st 6s, 1929
1st cons. 5s, 1934, J. dc J._99 de int.
$1,000 Carpenter Steel Co. 1st
Co.
Coal
$21,153,749 $12,677,6591 $19,673,810 $13,967,886
Total
$1,000 Consolidation
70
5s, 1914
Since January I.
1st 4;4s. 1922, J. & L10034 de int.
$2,000 Guayaquil & Quito By.
$26,341,093 $21,387,3001 $28,599,807 $25,142,582
Dry Goods
Co. 1st 6s, reduced to 434s,
87,991,155 54,914,944 90,248.451 75,410,303
56
General Merchandise
1932
Total 7 weeks
$114,332,248 $76,302,2443118,848,258 $100,552,885
DIVIDENDS.
The following is a statement of the exports (exclusive of
The following shows all the dividends announced for the specie) from the port of New York to foreign ports for the
week ending Feb. 20 and from Jan. 1 to date:
future by all large or important corporations:
EXPORTS FROM NEW YORK FOR THE WEEK.
Dividends announced this week are printed in italics.
Name of Company.
Railroads (Steam).
Atlantic Coast Line Co.(Conn.)(guar.)._ _
Baltimore & Ohio, common
Preferred
Boston & Albany (guar.)
Boston & Maine, preferred (No. 38)- Buffalo & Susq., pref. (guar.)(No. 27)
Canadian Pacific, common
Common (extra)
Preferred
Chestnut MI (guar.)
Chic. Milw. & St. Paul, corn. & preferred
Cin. N.0. & Tex. Pac., pref. (guar.).Cloy. & Pittsburgh, orig. guar. (quar-)- Special guar. (guar.)
Cripple Cr'k Cent., pf. (qu.) (No. 13)__
Delaware & Hudson (guar.)
Illinois Central (No. 108)
National Railways of Mexico, first pref
N. Y. Chic. & St. Louis, 1st & 2d pref._
Phila. Germantown & Norristown (guar.)
Reading Company, first preferred
Southern Pacific, corn.(guar.)(No. 10)
Union Pacific, common (guar.)
Preferred
West Jersey de Seashore
Wisconsin Central, preferred (guar.).
Street and Electric Railways.
American Railways (guar.)
Brooklyn Rapid Transit Co. (No.
Chicago City Ry.(guar.)
Columbus (0.) By., corn. (qtr.) (No. 23)
Elmira Water, Lt. de RR., pref.(No. 4)__ _
Galveston Electric Co., pref. (No.8)Octivestcm-Houston Elec. Co.. peel.(NO. 4).
Grand Rapids Ry., common (quar.)._
Kansas City By. & Light, pref. (quar.)...
Northern Ohio Trac. Sc Light (guar.)._._
Northern Texas Elec. Co., pref. (No. 7)
Philadelphia Company, preferred
Rochester By. & Light, Pref. (quar.)_ _
St. Joseph By., Lt., Heat & Power, corn_
Susquehanna By., Lt. & Pow., pref._ _
Terre Haute Tree. & Light, INTL
Whatcom County Ry. & Lt., pref.(No.11)
When
Per
Cent. Payable.
2
3
2
2
3
1
3
34
2
134
334
13%
13%
1
1
23%
334
1
5
3
2
1%
234
2
2
1
Mch.
Mch.
Bich.
Bich.
Bich.
Bich.
Bich.
Mch.
Apr.
Bich.
Bich.
Mch.
Bich.
Mch.
Bich
Bich.
Bich.
Mch.
Bich,
Bich.
Bich.
April
April
April
April
Mch.
Mch.
Apr.
Bich.
Bich.
Bich.
Bich.
Bich.
Itch.
Itch.
Bich.
Mch.
Mch.
Mch.
34 Mch.
234 Bich.
Feb.
3
3
Itch.
134
1
134
13%
234
3
3
1
13%
%
3
234
13%
Books Closed.
Days Inclusive.
10 Feb. 28 to Melt. 9
1 Holders of rec. Feb. 1
1 Holders of rec. Feb. 1
31 Holders of rec. Mch. 6a
1 Holders of rec. Feb. 15
1 Holders of rec. Feb. 15
31 Bich 2 to Apr. 1
31 Bich. 2 to Apr. 1
I Melt. 2 to Apr. 1
4 Feb. 21 to Bich. 3
1 Feb. 2 to Mch. 2
1 Feb. 21 to Feb. 28
1 Holders of rec. Feb. 10
1 Holders of rec. Feb 10
1 Holders of rec. Feb 17
20 Holders of rec. Feb. 27
1 Holders of rec. Feb. 1
1 Holders of rec. Feb. 17
1 Holders of rec. Feb. 5
4 Feb. 21 to Mch. 3
10 Holders of rec. Feb. 20
1
1 Holders of rec. Bich. 1a
1 Holders of rec. Bich. la
1 Holders of rec. Zilch. 15
11 Mch. 2 to Bich. 11
1908.
1909.
1906.
1907.
For the week
Previously reported
$10,908,879 $16,704.813 $11,683,861 $10,163,592
75,292,827 102,265,232 74,936,799 77,138,070
Total 7 weeks
$86,201,706 $118,970,045 $86,620,660 $87.301,662
The following tab e shows the exports and imports of
specie at the Port of New York for the week ending Feb. 20
and since Jan. 1 1909, and for the corresponding periods
in 1908 and 1907:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Gold.
Great Britain
France
Germany
West Indies
Mexico,
South America
All other countries
Total 1909
Total 1908
Total 1907
Week.
SinceJan. 1
Imports.
Week.
SinceJan. 1
$22,918
12,933
5,420,000
8,000
2,000
7,262,000
125
$14,640
7,200
39,808
136,313
105,145
85,019
347.696
419,790
$1,217,000 $12,692,125
660,080
40,180
15,300 1,395,355
$197,961
252,419
443,193
$993,501.
6,123,101
1,472,971
$1,217,000
Silver.
$18,734
$993.840 $6,221,199
15 Feb. 28 to Mch. 2 Great Britain
I 2,531
738,400
41,000
1 Holders of rec. Mch. 10 France
3,971
$1,542
7
Bich.
to Mch. 16 Germany
30
5,724
19,501
8,208
1,694
1 Holders of rec. Feb. 15 West Indies
50.129
337,682
1 Feb. 21 to Mch. 1 Mexico
20,798
194,837
250
1 Holders of rec. Feb. 19 South America
100,143
3,449
26,081
26,081
15 Holders of rec. Mch 1 All other countries
1 Holders of rec. Feb. 15
$677,399
$81,642
$1,062,615 $6,994.138
1 Feb. 18 to Mch. 1
Total 1909
672,045
34,928
558,305 5,729,598
15 Bich. 2 to Mch. 15
Total 1908
384,953
32,515
1,105,114 5,179,364
1 Holders of rec. Feb. 17
Total 1907
1 Holders of rec. Feb. 10
1 Holders of rec. Feb. 23
Of the above imports for the week in 1909, $12,798 were
1 Holders of rec. Feb. 15
1 Feb. 16 to Feb. 28 American gold coin and $6,142 American silver coin. Of
27 Feb. 18 to Feb. 28
during the same time, $1,217,000 were Ameri1 Holders of rec. Feb. 13 the exports
can gold coin and $%% were American silver coin.
544
THE CHRONICLE
Statement of New York City Clearing-House Banks.-The
detailed statement below shows the condition of the New
York City Clearing-House banks for the week ending Feb.
20. The figures for the separate banks are the averages of
the daily results. In the case of the totals, the actual figures at the end of the week are also given.
We omit two ciphers (00) in all cases.
Banks.
00s omitted.
Bank of N. Y_ _
Manhattan Co_
Merchants' _ _ _ _
Mechanics' _ _ _ _
America
Phenix
City
Chemical
Merchants' Ex
Gallatin
Butch. & Drov_
Greenwich __ -Amer. Exch.- _
Commerce
Mercantile
Pacific
Chatham
People's
Hanover
Citizens' Cent_
Nassau
Market& Fulton
Metropolitan
Corn Exchange.
Imp.& Traders'
Park
East River- _
• Fourth
Second
First
Irving Exch_ _
Bowery
N. Y. County
German-Amer _
Chase
Fifth Avenue_ _
German Exch.Germania'
Lincoln
Garfield
Fifth
Metropolis
_
West Side
Seaboard
Liberty
N. Y. Prod. Ex.
State
14th Street_ _ _ _
Copper
Capital. Surplus.
2,000,0
2,050,0
2,000,0
3,000,0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500,0
5,000,0
25.009,0
3,000,0
500,0
450,0
200,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3,000,0
1,500,0
3,000,0
250,0
3,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,0000
1.000,0
1,090,0
1,000,0
2,000,0
3.305,6
3,479,7
1,588,2
3,715,8
5,032,4
633,1
26,218,2
5,887,0
523,1
2,429,3
146,1
733,7
5,163,1
15,394,4
2,483,3
852,4
1,002,2
466,5
10,384,0
1,416,6
392,3
1,607,3
1,207,5
5,241,2
7,345,8
9,568,9
100,1
3,319,9
1,747,0
18,368,6
1,409,5
792,1
1,285,6
655,0
5,931,0
2,108,1
802,5
993,6
1,309,5
1.135,1
462.0
2,000,3
929,5
1,682,2
2.505,2
670,6
827,7
319,8
2,596,3
Loans.
Average.
20,574,0
33,600,0
20,402,0
30,571,0
28,883,9
7,637,0
185,665,6
29,969,6
6,736,9
9,836,6
2,222,7
6,903,5
30,672,5
167,956,2
13,000,4
3,784,7
7,212,5
2,028,7
70,161,1
22,769,5
5,389,8
8,244,2
11,204,3
44,275,0
27,937,6
89,022,0
1,440,8
27,453,0
11,485,0
132,456,7
19,795,1
2,869,0
7,800,9
4,255,7
81,248,6
13,130,8
3,422,2
4,582,9
15,065,8
7,648,1
3,274,0
11,393,7
4,379,0
21,093,0
16,523,0
7,272,1
10,983,0
4,932,7
20,213,7
Specie. Legals. Deposits. ReAverage. Average. Average. s've.
3,800,0 1,232,0
7,650,0 1,612,0
3,216,0 2,265,0
6,985,0 1,574,0
4,949,1 3,066,2
1,494,0
366,0
43,653,7 9,728,0
5,184,1 2,293,9
1,243,1
633,4
1,210,9
846,1
386,2
97,6
1,878,0
200,0
3,888,9 1,976,0
25,732,9 13,444,3
1,544,9
853,4
401,1
572,4
940,8 1,076,2
489.4
43,1
15,769,2 5,610,3
5,601,2
325,3
513,8
950,5
891,4 1,309,2
2,695,5
140,5
7,153,0 5,707,0
5,621,0 1,902,0
24,327,0 1,746,0
258,1
162,3
4,292,0 3,258.0
2,525,0
366,0
33,141,5 1,693,8
4,533,3 1,172,2
731,0
69,0
1,402,5
701,2
873,1
238,0
19,533,5 4,900,6
2,741,3 1,127,5
425,0
593,8
831,1
617,5
3,132,0 1,002,9
1,947,3
549,4
532,9
361,1
1,663,0 1,372,2
1,021,0
232,0
4,521,0 2,091,0
3,571,2
455,9
1,846,0
201,7
3,262,0
233,0
968,8
427,4
9,708,0
314,1
19,119,0 26.3
38,850,0 23.8
21,734,0 25.2
32,618,0 26.2
31,531,2 25.4
7,077,0 27.7
190,217,9 28.1
29,443,3 25.6
7,167,4 26.3
8,015,8 25.8
2,251,7 21.4
7,910,3 26.2
23,858,6 24.8
153,625,8 25.5
9,355,1 25.7
3,572,7 27.0
7,741,3 26.0
2,145,6 24.8
83,477,5 25.6
22,946,0 25.9
5,883,8 24.8
8,435,5 26.1
11,213,7 25.2
51,904,0 25.0
27,253,0 27,6
102,126,0 25.5
1,642.3 25.5
29,500,0 25.6
11,816,0 24.4
134,179,3 25.9
21,453,7 26.6
3,270,0 24.4
8.370,7 25.9
4,234,9 26.2
91,973,8 26.0
14,880,9 26.0
4,090,0 24.9
5,383,8 26.9
16,400,5 25.2
8,229,6 30.6
3,560,7 25.3
11,473,6 26.4
4,864,0 25.7
25.306,0 26.1
16,024,7 25.2
8,434,5 24.2
13,978,0 25.0
5,521,3 25.2
19,722,4 25.5
FoL.Lxxxvm.
$2,869,400, a decrease of $17,200 front last week; averages Include United Statesueposits or $2,909,200, a decrease of $300,900 from last week.
"Reserve on deposits" includes, for both trust companies and State banks, not
only cash Items but amounts due from reserve agents. Trust companies In New
York State are required by law to keep a reserve proportionate to their
deposits,
the ratio varying according to location as shown below. The percentage
reserve required is computed on the aggregate of deposits, exclusive of moneysofheld
in trust and not payable within thirty days, and also exclusive of time deposits not
payable within 30 days, represented by certificates, and also exclusive of deposits
secured by bonds of the State of New York, The State Banks are likewise
to keep a reserve varying according to location, but in this case the reserverequired
computed on the whole amount of deposits, exclusive of deposits secured by Is
bonds of
the State of New York.
RESERVE REQUIRED FOR TRUST COMPANIES & STATE
BANKS.
-Trust Co's- -State BanksTotal
Of
Total
Of
Reserve which Reserve
which
LocationRequired. in Cash. Required. in Cash.
Manhattan Borough
15%
15%
25% • 15%
Brooklyn Borough (without branches In Manhat.)15%
10%
20%
10%
Other Boroughs (without branches in Manhattan).15%
10%
15%
7 %
Any Borough with branches in Manhattan
15%
15%
25%
15%
Elsewhere In State
10%
5%
15%
6%
Reports of Non-Member Banks.-The following is the
statement of condition of the non-member banks for the
week ending Feb. 20, based on fi,Verage daily results:
We omit two ciphers (00) in all cases.
Banks.
Capital.
Surplus.
Loans,
Disc'ts
and
Investments.
N. Y. City.
Boroughs ol
Man.&Brx
Wash. lig ts. 100,0
214,3 1,103,0
200,0
_
Century
154,3 1,556,6
Colonial
400,0
231,3 4,548,3
Columbia __
300,0
430,9 6,049,0
Fidelity _ -- 200,0
174,7
872,1
Jefferson_ _
500,0
685,3 3,276,3
Mt. Morris_
250,0
265,3 2,276,4
200,0
Mutual --319,6 3,844,1
19th Ward. 300,0
478,9 4,388,0
Plaza
100,0
397,4 3,610,0
23rd Ward., 200,0
92,0 1,591,7
Union Exch 750,0
823,0 7,255,5
Yorkville - 100,0
420,6 3.367,9
Coal & I. N. 500,0
725,8 4,463,0
New Neth'd
200,0
236,4 1,820,0
Batt.Pk.Nat 200,0
145,8 1,127,0
Borough of
Brooklyn.
Broadway
150,0
462,2 2,841,7
Mfrs.' Nat. 252,0
777,6 5,409,0
Mechanics' 1,000,0
948,1 9,911,7
Nassau Nat. 750,0
919,9 6,408,0
Nat. City_
300,0
568,7 4,452,0
North Side.. 200,0
132,7 1,568,1
Jersey City.
Totals, Average 126,350,0 168,258,9 1319,330,1 275,685,8 81,304,0 1373,778,9 26
0 First Nat_ _
400,0
1,210,8
4,059,7
Actual figures Feb. 20
1317,311,1 276,905,6 81,958,8 1372,8613,1 26 1
Hud.Co.Nat 250,0
721,1 2,485,8
Third Nat- 200,0
374,0 1,828,1
Hoboken.
On the basis of averages, circulation amounted to $48,770,000 and United
States First Nat_ _
220,0
deposits (included In deposits) to $2,909,200; actual figures Feb. 20: circulation
612,5 2,630,2
Second Nat. 125,0
$48,560,600; United States deposits, $2,869,900.
220,5 2,046,0
Specie.
$
89,0
28,5
632,1
562,0
70,2
26,6
450,5
20,2
66,7
232,0
172,0
726,1
48,2
846,0
200,0
214,4
Legal
Tender
and
Bank
Notes.
81.0
251,1
326,8
522,1)
63,0
474,1
31,3
650,1
750,2
395,0
49,1
598,0
688,6
216,0
71,0
32,5
Deposit with
Clearing
Agent.
158,0
91,7
480,9
482,0
127,3
185,9
452,4
463,3
237,7
577,0
234,3
624,2
273,6
561,0
359,0
16,4
26,3 371,2
237,4
589,5 140,0
755,0
212,5 1.880,5 1,130,4
310,0 614,0 1,320,0
91,0 610,0
646,0
141,9
82,0
136,6
253,0
171,7
65,2
357,4
25,5
127,8
Other
Net
Banks, Deposits
&c.
1,100,0
190,8 1,903,6
257,8 5,722,9
7,104,0
858,1
151,0 3,335,3
82,0 3,109,9
5,1 4,524,5
708.3 5,736,7
4,421,0
1,879.3
7,495,2
150,0 4,420,0
180,0 4,799,0
25,0 2,074,0
951,0
181,6 3,275,1
171,0 6,972,3
179,8 13,132,6
6,831,0
13-4:6 5,1134,0
230,0 1,008,1
2,374,1 1,962,0 7,138,1
214,3 061,2 2,752,9
07,4 2,477,5
589,5
10,4
112,7
199,4 171,9 2,310,8
91,3 329,0 2,544,4
6(1,8
72,1
-Tot. Feb. 21, 8,347,0 12,748,7 94,819,2 6,425,7 9,479,7 13,024,7 5,839.7 113311,5
Tot.Feb. 13 8,347,0 12,838,8 94,913,2 0,319,7 9,263,2 14,798,2 6,281,6 114722,3
Tot. Feb. 6 8,347,0 12,838,8 93,254,9 0,331,8 8,015,1 14,756,3 6,052,6 110943,3
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this class
New York City,Boston and Philadelphia Banks.-Below is
in the whole State, but the figures are compiled so as to
distinguish between the results for New York City (Greater a summary of the weekly totals of the Clearing-House banks of
New York) and those for the rest of the State. Further- New York City, Boston and Philadelphia. The New York
more, in the en se of this city, besides reporting the results for figures do not include results for non-member banks.
the State banks and for the trust companies,separate figures
We omit two ciphers in all these figures.
are presented to indicate the totals for the State banks and
Capital
Banks.
and
Loans.
Specie. Legals. Deposits. a Circu- Clearings.
trust companies in the Greater New York not in the Clearing
Surplus.
lation.
House. In the following we give all the different sets of New York
$
Jan. 23_ 291,797,7 1335,045,9 302,852,1 81,979,4 1417,776,2 49,113,0 1,878,514,
figures, indicating by plus(+)or minus(-)sign the changes Jan.
30.._ 291,797.7 1341,960,6 301,202,2 82,200,2 1422,820,1 49,441.5 1,865,013,2
Feb
6.._
from the previous week. To make the statement as com- Feb. 13_ 291,797,7 1343,667,4 280,402,0 80,641,9 1402,828,4 49,201,3 1,968,479,5
291,797,7 1326,315,4 273,893,1 80,208,1 1378,413,6 48.932,3 1,468,344,7
prehensive as possible, we start with the totals of the Clearing Feb. 20_ _ 294,608,0 1319,330,1 275,655,8 81,304,0 1373,778,0,48,770.0 1,751,044,3
Boston.
House banks as contained in the above, giving both the Jan 30_ 41.790,0 211,770,0 27,962,0 4,140.0 202,238,0 9,385,0 152,652,0
Feb. 6__ 41,790,0 210,837,0 26,894,0 3,927,0 262.347,0 9,451,0 180,065,0
averages for the week and the actual figures at the end of Feb.
13_
41,790,0 212,684,0 26,578,0 3,865,0 254,693,0 9,429,0 144,345,2
Feb. 20- 41,790,0 213,010,0 25,670,0 3,840,0 258,955,0i 9,388,0 158,070,5
the week.
Phila.
1
Jan. 30_ 54.390,0 251,319,0
305,136,0 14,897,0 118,181,7
81,605,0
NEW YORK CITY BANKS AND TRUST COMPANIES.
Feb. 6__ 54,390,0 252,976.0
30q,190,0 15,252,0 138,842.9
79,988,0
Feb. 13_ 51,390,0 257,984,0
Week ending February 20.
304,637,0 15,354,0
99,647,4
75,537,0
311,047,0 15,435,0 132.557,7
78,8,11,0
Loans and
Reserve on P.C. Feb. 20._ 54,390,0 257,762,0
00$ omitted
Investments. Specie.
Leads.
Deposits.
Deposits. of Rea Including Government deposits, and for Boston and PhIladelph a the Item
3
serve.
clue to other banks." At New York Government deposits amounted to $2,Clearing-House
909,20000 Feb. 20, against
13; at Boston to $890,000 on Feb. 20
Banks-Actual 1,317,311 1,276,905,6 81,958,8 1,372,866,1 358,869,4
26.19 and $1,047,000 on Feb. 13. $3,210,100 on Feb.
+404,7
-5,174,6 +4,845,1
-771,4 +5,249,8
Clearing-House
Banks-Aver-1,319,330,1 275,685,3 81,304,0 1,373,778,9 356,989,8 26.04
-6,985,3 +1,792,7 +1,095,9
-4,634,7 +2,888,6
State BanksAverage
296,769,0
342,248,4
46,403,8 a26,899,7
92,360,1 27.6
-5,676,4 -1,019,9 +1,236,8
-4,164,7
-228,0
Trust CompaniesAverage
1,011.206,9 128,098,0 a12,036,7 1,120,067,9 147,805,2 17.1
We shall be pleascd to furnish to Institutions and investors copies
-2,056,5 +2,226,7 +680,5
+3,498,2
+151,0
of our special circular describing
State Banks and
Trust Co's-not
43 RAILROAD BONDS
In Clear.-House.1,104,775,0 134,4132,2 a21,381,6 61,232,037,6 178,885,1 18.4
Listed upon the New York Stock Exchange
-2,874,7 +2,197,2 +1,051,3
+394,2 +3,801,9
STATE BANKS & TRUST CO'S OUTSIrE OF GREATER NEW YORK.
Week ending February 20 1909.
WILLIAM AND PINE STSNEW YOR
% 01
Branch offices: Chicago, Ill., and Albany, N. V
Loans.
Deposits.
Reserve.
Res
State Banks
$80,425,600 $86,280,600 $19,040,300 23.4
_7,200
+526,300
+887,300
Trust Companies
126,311,800 135,982,000
21,485,900 16.3
--54,800
--535,800
--930,600
+ Increase over last week. - Decrease from last week.
a Includes bank notes. b After eliminating the item "Due from reserve deposl
Members New York Stock Exchange.
tortes and other banks and trust comnan'es In New York City "deposits amount to
61,068,039,900, a decrease of $414,400 from last week's figures
6 NASSAU STREET.
HANOVER BANK •BUTI DINO
Note.-In the ease or the Clearing-H ,use banks, the deposits are "net" both for
the average and the actual figures; in all other cases "gross" deposits are shown
DEALERS IN INVESTMENT SECURITIES.
The Clearing-House actual figures in,luded United States deposits amounting
to
Commission Orders Executed for Cash only.
,:laniting and financial.
Spencer Trask & Co,
MOFFAT & WHITE
iiiartrarsi Q5azette.
Wall Street, Friday Night, Feb. 26 1909.
The Money Market and Financial Situation.-Conditions
which obtain in the iron, steel and copper trades have had a
demoralizing effect in the stock market this week, the result being a liquidating movement of more than usual force
and severity. This movement was augmented by uncertainty in regard to a pending decision by the United States
Supreme Court vitally affecting the coal-carrying roads,
and shares of the latter, as well as of the iron,steel and copper
companies, were conspicuous in the decline.
Favorable comment has been made upon the Atchison
Railway Company's traffic report for the month of January,
which shows a small increase in gross and a substantial increase in net earnings. It should be remembered, however,
that comparison is made with one of the dullest months of
the recent depression, and that the difference between gross
and net income presumably represents, as has often been
pointed out, a corresponding reduction in outlay for betterments and equipment maintenance, which could not be
continued indefinitely.
The Bank of England and the principal Continental banks
make favorable weekly reports, the former showing a large
increase in its gold reserve since the discount rate was advanced on Jan. 14.
Local banks have completed the return of Government
deposits called for, and $2,700,000 gold has been shipped
and engaged for shipment to Amentina.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 13'% to 2%%. To-day's rates on call were 1%%@
2%. Commercial paper quoted at 33'(4)3%% for 60 to 90
day endorsements, 33'(4)4% for prime,4% for 4 to 6 months'
single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £872,501 and the percentage
of reserve to liabilities was 48.08, against 50.59 last week.
The rate of discount remains unchanged at 3%, as fixed
Jan. 14. The Bank of France shows a decrease of 5,675,000
francs gold and an increase of 1,650,000 francs silver.
New Orleans bank, 75c. per $1,000 discount; commercial, $1
per $1,000 discount. Chicago, 20c. per $1,000 premium. St.
Louis, 40050c. per $1,000. premium. San Francisco,
123c. per $1,000 premium.
State and Railroad Bonds.-No sales of State bonds have
been reported at the Board this week.
The market for railway bonds was active on Tuesday,
and prices declined in sympathy with the market for shares.
The transactions on that day amounted to about $7,500,000,
par value,since which they have diminished day by day until
they are less than 2-3 of that amount. A part of Tuesday's
decline has been recovered, but practically all the active
list shows a net loss. Wabash ref. and ext. 5s declined
nearly 4 points and recovered 2; Union Pacific cony. 4s declined 2 and recovered 1 point.
United States Bonds.-Sales of Government bonds at the
Board are limited to $1,000 3s coup., 1908-18, at 1015.
The following are the daily closing quotations; for yearly
range see third page following.
NE% YORK CITY CLEARING-HOUSE BANKS.
1909.
Averages for
week ending
F,b 20.
Differences
from
previous week.
126,350,000
Capital
168,258,900
Surplus
Loans and discounts-__ 1,319,330,100 Dec.
48,770,000 Dee.
Circulation
1,373,778,900 Dec.
Net deposits
2,909,200 Dec.
U. S. dep. (Incl. above)
275,685,800 Inc.
Specie
81,304,000 Inc.
Legal tenders
Reserve held
25% of deposits
Surplus reserve
Surplus, excl. U. S. dep
545
THE CHRONICLE
FEB. 27 1909.j
1908.
Averages for
week ending
Ftb. 21.
1907.
Averages for
week ending
Ftb. 23.
124,350,000 126,150,000
159,561,100 155,799,500
6,985,300 1,143,969,700 1,083,460,400
53,004,500
162,300
66,187,700
4,634,700 1,146,291,400 1,045,021,700
14,356,600
59,329,100
300,900
1,792,700 258,374,800 190,145,800
75,419,200
60,666,600
1,095,900
356,989,800 inc. 2,888,600
343,444,725 Dec 1,158,675
319,041,400
286,572,850
265,565,000
261,255,425
13,545,075 Inc. 4,047,275
32,468,550
4,309,575
14,272,375 Inc. 3,972,050
47,300,825
7,898,725
Note.-The Clearing House now issues a statement weekly showing the total
of the actual figures on Saturday morning. These figures, together with the returns
of separate banks, also the summary issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing 10use, appear on the preceding page
Foreign Exchange.-The market was quite strong until
Wednesday, influenced by a demand to remit for stocks
sold for London account. Then a feverish market, resulting
from manipulation, was followed by an easier tone, but the
close was firm. Gold engagements for shipment to Argentina, $2,700,000.
To-day's (Friday's) nominal rates for sterling exchange
were 4 86 for sixty day and 4 883' for sight. To-day's (Friday's) actual rates for sterling exchange were 4 8540(4)4 8550
for long, 4 8745©4 8750 for short and 4 8785@)4 8795 for
cables. Commercial on banks 4 8490@4 8510 and documents for payment 4 843'@4 85%. Cotton for payment
4 843'@4 84%, cotton for acceptance 4 8490@4 8510 and
grain for payment 4 853/8@4 8534•
To-day's (Friday's) actual rates for Paris bankers' francs
8h@5 16%a for
/
were 5 185-a@5 18% for long and 5 167
short. Germany bankers' marks were 94%@94 13-16 for
long and 95 1-16@953'd for short. Amsterdam bankers'
guilders were 40 22@40 24 for short.
Exchange at Paris on London, 25 fr. 223'c.; week's range,
25 fr. 223'c. high and 25 fr. 213'c. low.
The week's range for exchange rates follows:
Interest
Periods
registered Q-Jan
2s, 1930
coupon Q-Jan
2s, 1930
3s, 1908-18
registered Q-Feb
coupon Q-Feb
3s, 1908-18
3s, 190848_ _ _ _small coupon Q-Feb
registered Q-Feb
48, 1925
coupon Q-Feb
1025
Canal regis Q-Feb
2::
4
2s, 1938_Panama Canal regtS Q-Nov
Feb.
20
Feb.
22
*101
*10134
*1003
%
*1003
%
*100
*119
*120
*10034
*10034
H
0
L
I
D
A
Y
Feb.
23
Feb.
24
Feb.
25
Feb.
26
101 *101 *101
*I01
*101;4 10134 *10134 *10134
3 *10034 *10034 *10094
*100%
10134
*10034 *101 *101
*100 *100 *100 *100
*119 *119 *119 *119
*120 *120 *120 *120
*10034 *10034 *10034 *10034
*10034 *10034 *10034 4,10031
*This Is the price bid at the morning hoard: no sale was made.
Railroad and Miscellaneous Stocks.-The liquidating
movement in stocks which was noted at the close last week
continued with increasing force up to the close of business
on Tuesday. On that day the transactions aggregated
about 1,560,000 shares and at or near the close Reading
shares had declined over 12 points, Colorado Fuel & Iron 8%,
Republic Iron & Steel preferred 18, Steel common over 7,
4,New York Central
Steel preferred 5, Delaware & Hudson 63
5/
58 ;and many other prominent issues from 3 to 5 points.
Wednesday's market opened feverish and irregular, but
there has been a reactionary tendency which has continued
and resulted in a substantial recovery in most cases.
Reading is still nearly 8 points lower than at the close last
week,however,Amalgamated Copper over 6 points,Colorado
Fuel & Iron 6,Republic Iron & Steel preferred nearly 10 and
Steel Common over 4 points. Consolidated Gas and Louisville & Nashville shares are unique in that they have advanced 5 and 23/2 points respectively within the week
For daily volume of business see page 553.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
I Sales
STOCKS.
Week ending Feb. 26. for
Week.
Range for Week.
Lowest.
Highest.
Range sine* Jan. 1.
Lowest.
100 75 Feb 29 75 Feb 24 75
Amer Teleg & Cable_ _ _ _
150 10634 Feb 26 10634 Fep 26 106
Assoc Merchants, 1st pt.
2,600 25c. Feb 23 29e. Feb 25 24c.
Comstock Tunnel
100 92% Feb 25 92% Feb 25 87
Homestake Mining
200 38 Feb 23 39 Feb 23 38
Nat Max pref tr rets_ _ _ _
44 77% Feb 25 77% Feb 25 75
N Y Dock, pref
110 13% Feb 24 11434 Feb 23 113
NY&NJ Telephone
;4 Feb 26
400
54 Feb 26 34
People's Gas L & C rights
1,300 2% Feb 23 2;4 Feb 24 134
Quicksilver Mining
RR Securities-Ills Cent
250 91 Feb 26 91 Feb 26 8854
stock trust certfs
600 10934 Feb 23110 Feb 23 101
Sears, Roebuck & Co,pfd
110 10234 Feb 24 10234 Feb 24 99
United Cigar Mfrs, pref _
400 18 Feb 26 120 Feb 26 117
U S Leather, pref
6 Feb 24 6;4 Feb 20
565
Detinning
Vulcan
Highest.
Feb 78
Feb 10634
Jan 30e.
Jan 92%
Feb 44
77%
Ja 15
Feb
34
434
Feb
Feb
Jan
Feb
Feb
Feb
Jan
Feb
Jan
Feb
Ja 91
Feb
Jan 10
Jan 10234 Feb
Jan
Feb 120
8;4 Jan
Fe
Outside Market.-The "curb" market was irregular this
week, though weakness predominated. At times there was
a tendency toward improvement, but the result shows
further losses in prices. Copper shares especially were under
pressure. Boston Consolidated sank from 123. to 11%,
moved up to 11% and closed to-day at 11 %. British Colum4 and rose to 7. Butte Coalition
bia declined from 7% to 63
from 223- went up to 23% and dropped back to 21%,closing
%. Cumberland-Ely weakened from 83 to
to-day at 213
75. and ends the week at 7 9-16. First National Copper
declined from 7 to 6%, advanced to 7 1-16 and dropped
finally to 6%. Greene Cananea receded from 10% to 9.
4 and ends the week at 133/8.
Miami sank from 135
% to 123
Nevada Consolidated sold down from 18 to 163' and up to
%. United Copper common,
173, reacting finally to 165
after an early rise from 12% to 133.., dropped to 11, closing
%. Cobalt Central from 483 cents ranged
to-day at 115
downward, closing to-day at 46 cents. Goldfield Consoli-Cables---Short
Long---dated advanced from 738 to 8 5-16, easing off finally to
Storing. Actual88
04
3-16. Nipissing weakened from 93j to 9% and closed
8
8785
14
04
8760
8750
14
8550
04
4 8540
High
64 8780
14 8775
04 8745
14 8740
4 8510
64 8515
Low
to-day at 93,. 'the bond department was fairly active.
Paris Bankers' FrancsChesapeake & Ohio 5s sold from /01% to 101 3. and back to
05 1834
(45 100
5 1840
High
15 1630
05 1634
15 1734
Low
101%. Further transactions in these were on the unlisted
05 1854
5 1834
Germany Bankers' Marksdepartment of the Stock Exchange. C. B. & Q. 4s ad094 13-16 1 9534c/
94 ji
09534
High
9454
1 95 1-16 0954
vanced from 100 7-16 to 1003/ but sold down to 100%.
09454
Low
Amsterdam Bankers' GuildersPacific 4s were traded in between 97% and 97%
Southern
040 27
88
I 40 25
High
1 40 22
and the "rights" between 5-16 and 17-32. Western Pacific
040 24
88
Low
5s declined from 95% to 95%. American Tobacco moved
3-32 of 1%
Less: a 1-16 of 1%. d 1-32 of 1%.
up from 325 to 332 and to-day sold at 330. Standard Oil
Plus: k 1-16 of 1%. x 1L32 of 1%. y,3-32o1 1%.
recovered to 042. Chicago
The following were the rates for domestic exchange on declined from 6453 to 635 and
to 24, moved up to 26% and down
points
2
lost
Subway
Savannah
to-day:
ned
cities
the
at
undermentio
York
New
buying, 50c. per $1,000 discount; selling, 75c. per $1,000 finally to 25.
Outside quotations will be found on page 553.
premium. Charleston, selling, $1 per $1,000 premium.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearl,
OCCUPY I NG TWO
STOCKS-HIOHEST AND LOWEST SALE PRICES
Monday
Feb. 22.
Scaurday
Feb 20
Pc
4112
41
2914 2912
58
57
*75
77
4018 4012
7038 71
*20
23
*49
53
60. 60
12612 12778
0,145 150
*26
32
__- _7_2012 21
5614
55
*85
90
1-10 14012
151 155
404 414
*72
75
6934 7078
412312 12312
12618 127
5. 62
105 100
82
*75
159 15938
4512 4614
8712 8914
88
*85
138 13812
Wednesday
Feb 24
2'hursday
Feb. 25.
•• ales of
the
Friday
Week
Feb. 28. Shares
-
STOCKS
NEW YORK STOCK
EXCHANGE
•
<4
A
W
E-,
22
.:
gl
D
Z
0
E.
CI
V.
'-'
<4
* 6 -8-2*90 100
*80
88
12812 13118
*9014 92
,
1 105 110
12818 13014
*88
90
*87
91
2314 24
62
6258
*6838 70
3812
33
*2214 2312
51
5118
11718 11858
121 12138
2438 2478
6358
14 3334
Els 3934
*1213 14
47
4734
6812 6812
104 106
17678 17812
96
596
*30
35
*51
53
18
1818
4614 49
Highest
Ask
Hanle wr(1'
1oroerus
Lowest
Highest
66 Feb
8338 Feb
5913 Mch
7612 Feb
80 Jan
3714 Feb
(-414 Oct
(40 Feb
54 Mel]
160 Feb
2512 Feb
10 Feb
47 Mch
34 Feb
334 Mel)
1512 Feb
5 Feb
1(1313 Jan
138 Jan
981,Jan
l255 Jan
13512 Jan
4185 Jan
114 Feb
14012Jan
53 Apr
4 Apr
4712 Joe
8518 Feb
21 Feb
6038Jan
3934 Feb
14113 Feb
420 Jan
1414 Feb
2914 Mch
3212 Apr
6 Feb
1134 Feb
12 Mc
2428 Mch
10 NIell
11334 Feb
4813 Jan
71 Mch
8 Jan
20 Mr',
470 Jan
62 Feb
69 Mcb
12213 Feb
634 Jan
1718 Feb
10 Feb
2712 Feb
57 Aug
18 Feb
46 Feb
12 Jan
24 May
30 Feb
8714 Feb
121 Jan
15 Feb
1412 Jan
1412 May.
20 Meh
61 Feb
7014 Jan
12312 Feb
1713 Meh
46 Feb
2812 Feb
9734 Jan
90) Jan
2412 Jan
90 Jan
60 Feb
1283 Jan
2918 Feb
5
NIebli
71 Fe
1168 Jan
103 Feb
65 Sep
90 May
79 Mch
10534 Jan
59 Jan
8118 M.•
9218 Feb
78 Jan
76 Jan
1012 Feb
2034 Feb
.42 J'n.•
1914 Feb
I() Atz.11
2
640111
Feb
Fe )
1063s Jan
013 Jan
2512 Mch
1234 Feb
5112
2 OiCth
16
12 Feb
33 Feb
7814 Feb
11012 Mel.
191:4 Apr
15 Jan
?712 Jan
634 Mei)
13 Mch
6 Meh
10114 Deo
104 Dec
11112 Dec
:1178 Dec
94 Deo
6934 Dec
6434 litch
18018 Nov
68 Nov
229 Dec
5938 Dec
6878 Dec
79 Dec
1458 Nov
6814 Aug
43 Dec
1718 Nov
15212 Dec
16434 Dec
14713 Dec
16114 Dec
18513 Dec
224 Dec
160 Dec
174 Dec
718 Dec
18 Dec
7012 Dec
9973 Dec
59 Dec
70 Dec
76 Dec
1813(Dec
575 Nov
4012 Dec
8314 Dec
66 Nov
1834 Nov
3334 Nov
36 Nov ,
5138 Dec
41 Dec
14814 Dec
754 Nov
84 Nov ,
1712 Dec
40 Dec
84 Deo
10413 Deo
03 Dec
14934 Nov
20 Dec
4913 Dec
3212 Deo
57 Dec
7512 Deo
4238 Dec
7218 Dec
26 Dec
58 Dec
5638 Dec
12534 Dec
15434 Dec
4412 Dec
2012 Jan
2412 Dec
5612 Dec
90 Dec
135 Nov
15113 Dec
4312 Dec
7513 Dec
6713 Dec
122 Nov
126 Dec
5713 Dec
105 Nov
85 Dec
161 Nov
4778 Dec
v
888614
Dec
15734 Nov
145 Nov
1312 Jan
60 May
07 Jan
13214 Dec
8813 Dec
10834 Nov
14314 Dec
92 Dec
110 Dec
2514 Dec
6253 Dec
61 Dec
4214 Dec
24 Dec
Dec
125251728
',rt.
1-..)
.May
2.
714 Dec
1312 Dec
3714 Dec
47 Aug
1512 Dec
50 Dec
7313 Dec
0038 Dec
18478 Nov
98 Nov
40 Dec
L912 Dec
2058 Dec
5234 Dec
24 Dec
K ERS' QUOTATION
At..
SW
Ask
Bat
Ask
Baflk2
,•(2
'lank,
Banks
18.5
Ftfth Ave11- 4000-_ trying N Ex 180
200
Ch2lseaEx 1 190
300 :3.50 Jefferson I _ 18212
_
Fifth
New York
Chemical __ 42212 430
5-5-0780
First
165
____ Liberty-- 525
Aetna
--_- 175 Citizens' Ctl 155
420 435
150
14th StI
IN
LIncoln
America II
575
590 City
340 350
manhattanI-1 320 330
217
Fourth
214
Amer Exch. 250 200 Coal & Iron 245 250
Mark't&Ful 260
287
355 365
---- Gallatin
Baitei y Pk- 130
- -- Colonlal V- b300
Garfield _ 7
. 291.1
Mechanics'_ 255 25712
Bowery V
320 :13-3 C010Mbla ii- 375 425
_ _ 19213
Germ Am 1 14
-.6
BronxBoro11 300
...
.. Commerc0 - 1185 1188
--__ Mercantile _
170
____ mereh Exch 1-60
. Germ'n Ex11 1450
130
165 Consol't'd
Bryant Pk 1 155
104
150 Copper -7
.-- Germania IT 625_ . Merchants' 160
235
230
Butch & Dr 140
--____ Greenwich 11 265 2-22; vetropolis 1) 375
120
125 Corn Ex 11_ 330
Century I
175
540
Hanover
_ . qetropor
,..-n _
300.._- East River. 125
135
Chase
270
Imo & Trail 550
560
- - %It Nforr1211_ 250
300 30-, Fidelity' 11_ 165
175
Chathan3
State
.es than 100 shares.
3. Bid and asked prices. no sal^s were made on this day. I Ex-rights.
* Sale at Stock Exchange or at auction this week. 2 First Installment paid. n Sold at lrlynte sals
Buz
Lowest
--
1_>4-- R
BANKS AND TRUST COMPA NI ,
Banks
Raa.ge :Ande Jan. 1 1009
On bazis of 100-shars lots
Railroads
985s 10158 9812 10138 9934 10114 10112 102
57,310 A tch Topeka (fc SantaFe 9778 Jan 13 10.358 Feb 17
10158 102
10134 102
j0014 Jan 20 102 Feb .1
10178 102
10134 102
2,860 .21 Do pret
112 11612 112 11712 114 116
11534 11912 9,100 Atlantic Coast Line RR
10712 Jan 14 12212 Feb 15
10312 10712 10412 10612 10518 10628 10618 10634 31,000 1.pdtlmore & Ohio
10312 Feb 23 1121, Jan 4
*92
0312 93
*92
93
9312 *9212 9312
02 Feb 3 93371 Feb 16
100 11-2 Do pret
6778 7034 6778 6934 69
7113 7114 72 138.950 Brooklyn Rapid Transit_ 67 Jan 9 7234 Feb 17
*_
64 *___ 64 *____ 64 *___ 64
Buffalo & Snsque, pref_
16738 Feb 24 17814 Jan 4
1.701-8 17134 1673s 16934 16814 16978 16913 17134 0,375 f i anadlan Pacific
6434 6434 *62
6512 *62
6512 *60
6014 Jan 11 6514 Jan 2
6434
100 k , anada Southern
215 220 *215 230 *210 220 *210 225
215 Feb 23 235 Jan 8
200 Central of New Jersey
61
553s Jan 6 6214 Feb 15
65
6134 6412 6314 6514 6414 6512 113,465 Chesapeake & Ohio
68
5912 5778 6014 5934 60
60
5778 Feb 24 7014 Jan 7
6078 2,100 Chicago & Alton RR
*70
*70
71
71
75
75
*70
75
71 Feb :A 7614 Jan 8
200
Do pret
7
718
678 718 *678 718
612 Feb 26 1112 Jan 2
612 634 7,750 Chicago Great Western
*55
*55
64
64
*55
64
*55
64
Do 4% debentures.... 60 Jan 22 6118 Jan 20
31
31
*29
31
2934 3014 *29
25 Jan 13 37 Jan 4
32
Do 5% pret "A"
500
812 934
814 834
712 Jan 25 1418 Jan 2
8
812
8
Do 4% pref "B"
3,610
8
141 14478 14112 14338 141 14278 14218 14314 67,250 Chicago Milw & St Paul_ 141 Feb 23 15134 Jan 4
*16112 163 *159 1 161
160 160 *15913 161
160 Feb 25 167 Jan 25
Do pret
100
14112 14112 5142 142 *14134
*14378 144
Do cons installm't ctfs 14112 Feb 24 147 Jan 2.3
140
16078 16078 15912 15912 *1594 16012 15934 160 - 1,950
Do ore( instatim't ctfs 11910 Feb 24 165 Jan 25
17358 17512 17318 17478 17412 17413 17518 17518 3,650 Chicago & North Western 17318 Feb 24 185 Jan 2
*212 225 *200 215 *200 215 *210 215
5212 Feb 20 5225 Jan 5
Do pre
20
*152 160 *150 160 *150 160 *150 160
55 Jan 25, 1.56 Jan 5
Chic St P Minn & Omaha 1,
*158 160 *158 165 *158 165 *158 165
16610Jan 30 169 Jan P5
Do pret
513 Jan13
512 534 *5
7 Jan 4
6
900 Chlc Un Trac ctfs stmpd
6
*512 614
6
144 1514 1434 1514 1434 1434 1414 1434 1,200
Do pret ctfs stmpd
1414 Feb 26 1814 Jan 27
70
7312 704 71
2012 73
72
t8 Jan 29 7912 Feb 16
7413 4,000 Cleve in Chic ec St L
*101 110 *108_... 5101 101 *101
100 Jan 4 103 Feb 11
Do peel
10
61
60
6134 5934 62
6112 46214 1214 4,345 Colorado & Southern
5718 Jan 5 6814 Jan 8
8114 80/2 8112 81
80
8058 80
7612 Jan 2 8512 Jan 8
Do 1st preferred
8134 3,500
7712 7712 7614 7734 77
7812 7813 7834 2,100
7314 Jan 2 8.112 Jan 7
Do 2(1 preferred
16734 17112 16914 17014 x169 17212 4,900 1 Iclaware &Hudson
168 173
16734 Feb 24 182 Jan 4
*545 550 *525 540 *530 550 *525 550
I felaware Lack & West_ 535 Feb 1 z550 Jan 4
40
4458 4053 4212 41
4214 42
3758 Jan 6 4878 Feb 5
4318 26,120 Denver & Itio Grande
82
8512 82
8314 8314 '85
791 Jan 6
8418 85
90 Feb 10
5,515
Do pref
6118 614 *60
62
62
6112 *60
56 Jan 30 6213 Feb 20
6114
350 Detrolt United
1634 1634 *1513 1612 1513 1534 1512 16
760 Duluth So Shore & Atian 1514 Jan 6 21 Jan 15
2814 29
28
2934 28
2014 *2834 30
28 Feb 23 3612 Jail 15
1,050
Do pret
2614 2878 2534 2634 26
2658 2638 2714 70,650 Live
2534 Feb 24 3434 Jan 2
44
444 4014 42
41
4014 Feb 24 5113 Jan 2
4134 4114 4214 5,455 L2 Do 1st pref
32
3214 3212 3212 3212 3212 1,000
3234 34
32 Feb 24 4013Jar. 4
Do 2d pref
13634 14013 13658 13918 13713 13913 13914 14018 48,490 Great Northern pre/
13658 Feb 24 14814 Jan 4
6514 6934 6512 6714 6612 6734 6514 6612 10,915
6514 Feb 23 74 Jan 27
Iron ore properties
Green Bay & W, deb ctfA
;15 -1-6_72,*15T2 .„
1
-7
1
14
deb ett B 14 Feb 26 17 Jan 4
1
Do
4 *37
*37
3978 *36 -3934 *37 -39339 Feb 1 4012 Jan 11
39
Havana Electric
8412
*80
85
8514 *80
8412 *80
*80
8318 Feb 6 84 Jan 23
LI Do pref
____
106 *___ 106 *103 106
103 Jan 4 106 Jan 12
Hocking Valley tr rcts
90 *88
*90
91 -91
90
93
90 Feb 25 93 Jan 21
93
Do pref•
200
137 Feb 23 149 Jan 4
137 13978 13814 13913 139 14011 0,485 Illinois Central
137 141
1358 1434 1312 1434 1414 1434 1438 1434 21,400 xnterboro-Metropolltan_
1313 Feb 24 19 Jan 5
3938 3834 4038 3934 4112 25,065
3834 4012 38
34 Feb 24 493k Jan 6
Do pref
27 Feb 24 3414 Jan 18
2712 28
27
28
28
2734 27
2814 3,075 Iowa Central
541., Jan 4 6134 Jan 19
*55
56
56
57
67
55
57
57
Do pref
1,725
7612
*72
77
*74
76
*744 77
*74
WC Ft S et M tr cfs.pref 7434 Feb 2 76 Feb 5
3714 3812 3818 39
3834 3912 19,110 11..ansas City Southern
37
40
37 Feb 23 4333 Jan 19
6818 6912 6778 69
6778 Feb 24 7434 Jan 8
6818 69
6834 6912 10.050
Do pref
2212 *19
21
1912 20
*20
20
20
1912 Feb 25 24 Jan 2
300 Iake Erie &Western
48 ..an 23 54 Feb 16
5012 *48
4912 4912 5013 5012 *48
5013
200 -4 Do pre
*58
*58
64
64
*58
65
59 Jan 4 6012 Jan 19
*60
64
200 Long Island
12512
128
12814
12712
125
125 12714
12912 29,200 Louisville & Nashville_ 2121 Jan 29 12913 Feb 15
145 145
*145 150 *145 150
146 146
145 Feb 25 15312 Jan 4
4001‘,1 anhattan Elevated
2512 Feb 26 42 Jan 5
100 iTIetropoiltan Street
2513 2613
*25
31
*25
32
*25
32
Mexican Central
----- ---- ---- ---- ---- _-_8 1958 2033 1034 2014 1934 1078 7,N0 Do Trust Co certfs
-i2 -2-011912 Feb 23 2514 Jan 4
5414 54
5314 54
53
53 Feb 23 05 Jan 8
64
5414 5412 1,300 Minneapolis & St Louis
*85
8912 Feb 26 90 Jan 8
*85
90
90
*84
8912 8912
90
100
Do pref
13212 Jan 2 14913 Jan 8
136 13834 2,365 Minn St P & S S Marie
137 137
1' 138
139 140
--------35113 15112 14712 150
147,. Feb 26 159 Jan 7
151 151
Do pre!
700
3512 3912 3578 3814 3634 3814 3778 3312 67,710 Mo Kansas & Texas
3513 Feb 23 4478 Jan 22
71
*7112 75 *70
71
73
71
71 Feb 23 7514 Jan 21
Do pref
73
1,000
65 Feb 24 7:.38Feb 5
6714 6912 65
6773 6534 67
6612 6714 29,700 Missouri Pacific
1 122 130 *122 130 *122 130
*122 130 ,
60 /
T1
41 ash Chatt de St Louis. 12212Jan 5 125 Jan 18
121 12638 12012 12313 12112 12314 12214 12318 55,300"
Y Central & Hudson_ 12012 Feb '24 13234 Jan 4
5113 50
50
50
60
60 Jan 30 57 Jan 4
60 *40
1,100 N Y Chic ec St Louis
52
*95 115 *100 118
*100 110
100 Feb 20 100 Feb 20
Do 1st pref
100
*95 105
*71
*70
81
80
84 Ja,n 5 87 Feb 4
*68
Do 2d pret
80 *71
80
15714 15714 15718 1574 159 159 *158 160
15718 Feb 24 16334 Jan 8
520 N Y N II & Hartford
4213 45
4214 44
4214 Feb 24 4014 Jan 4
4318 44
4313 444 13,795 N Y Ontario & Western_
8713 8434 87
85
an 20
85
Ja
84
513.4f,
J
7a n 26
8 9
8613 86
88
338j
18,500 Norfolk & Western
87
*85
89 -77 -.7- __ •
Do adjustment pref*85
88
13314 1-3613 13458 1.-3612 13112 13718 52.190 Northern Pacific
135 138
13314 Feb 24 14314 Jan 2
777- ---- --_Do subscrlp rcts .
_
137 Feb 1 14234 Jan 2
pacific Coast Co
*78 -82
80 Jan 13 83 Jan 7
*78
82
82
'
7'ig- li- *io
*90 100
*90 100
*90 100
Do 1st pref
*90 100
L
.
*80
88
*78
88
*78
88
Do 2d pref
*78
88
12618 12812 12723 12812 1284 12914 64,825 Pennsylvania
12618 Feb 93 135 Jan 4
12618 130
8712 8912 *87
8612 Jan 5 94 Feb 4
88
8712 8712 8814 8978 1,500 Pittsb Cin Chi() & St L
*105 110 *106 110 *106 110 *106 110
104 Feb 10 1081 Jan 28
Do pref
118 Feb 23 14428 Jan 4
118 12834 11038 12314 11913 12212 12114 123 712,880 IP eading
00
*87
*88
00
90
*87
90
90
90 Feb 26 93 Jan 5
" 1st pref
100
94
*87
93 *82
94
93 *83
2d pref
90 Feb 1 9312 Jan 6
*89
2314 2078 2214 2114 2178 2134 2214 25,595 Rock Island Company
2073 Feb 24 2638Jan 8
22
5758 Feb 24 6514 Feb 2
60
Do pret
5778 6134 5753 6014 59
5938 6034 27,860
*65
70
*65
70 *66
*67
70
69
St L ec San Fr, 1st pref- 67 Jan 13 70 Feb 16
36 Feb 23 42 Jan 2
37
Do 2d pref
37
37
3634 3634 1,300
36
3712 37
21
2012 2013 *2112 22
2034 211, *20
20)2 Feb 25 2458 Feb 6
700 St Louis Southwestern
4
152411142 JanJa n 22
50
Jan
50
51
*48
50
Do pref
1,275
5018 5078 50
6
2 Feb 24
14
17
45%
11434 11714 11458 11633 115 11612 116 117 204,110 Southern Pacific Co
11834 Feb 24 12312 Jan 27
Do pref
11912 12038 11834 11934 11914 11913 412014 12014 3,230
2334 2258 2312 23
22
24
11,800 Southern v tr cfs stmpd. 22 Feb 24 274 Jan 2
2313 24
6112 6058 6112 613s 6278 12,900
60 Jan 5 65 Feb 15
do
Do pret
6234 60
61
' 30 Feb 24 3734 Feb t
3112 22,300 Texas & Pacific
3113 3012 3113 31
3014 3314 30
3713 3912 10.410 I bird Avenue (N Y)
37
38
3513 Feb 23 4213 Jan 18
3512 3812 3513 38
*1112 14
12
12
300 Toledo Railways & Light 11 Jan 14 1528 Jan 2
1112 1112 1134 1134
4478 4478 43
43 Feb 26 5314 Jan 14
4438 12,440 Toledo St L & Western
4314 4434
44 • 45
6434 Feb 24 7414 Jan 4
Do pret
6434 6612 6634 6634 6514 6673 6,990
6734 68
10312 10358 10312 10312 10412 10410 1,500 Twin City Rapid Transit_ 97 Jan 2 107 Feb 15
10312 104
1721, Feb 24 18418 Jan 2
173 1774 17213 17558 1733k 17538 17478 1763; 497,510 I Talon Pacific
97 Jan 8
96
9452 Feb 1
9512 9512 2,065 2-4 Do pref
9514 9512 *95
99
95
*30
30
33
30
*30
32
*30
34
200 Unit Rys Inv't of San Fr 30 Feb 25 37 Jan 4
1014 Feb 25 65 Jan 7
*5014 61
5014 501 1 *4712 60
Do pret
200
51
51
15 Feb 23 1934 Jan 2
1614 1634 1112 1738 8,825 Wabash
1512 17
15
18
41 Feb 23 52 Jan 8
4213 4334 4318 4418 40,725 T•
Do pre!
4112 44
46'
41
2572 Feb 5
1,13. 1- n RA
A Qnn IV pa+ nrn ill Artlan(1
907, 91
107, 91
107. MS,
on2.
10138 10238
102 102
110 11718
10712 10834
*92
9312
6934 7112
* _ 64
172 172
*6434 6512
*222 227
6533 6612
62
*61
*70
75
718 738
*55
64
31
31
*914 934
14438 14512
*16112 163
*14478 14513
*16113 163
17613 17634
4212 212
*150 160
*160 166
*512 612
*1514 1638
75
75
*101 110
62
6212
81
81
7878 7878
17412 1744.
*535 545
4412 4614
8538 8538.
6213 6212
*1612 18
30
30
28714 2978
4438 45
35
35
14034 14214
7012
70
___... --*14
_
*38 -Ili
8514
*80
_- --__
i1478
iir4 Li/
1514
Tuesday
Feb 23
PA I:ES
A5k
Lad
i,ank 9
314
Mutual 1-.. 290
___
Nassau 2_,_ 205
New Neth'd . _ - 2-05
NewYorkCo 756
33212
New York _ 325
215
Milt &Dayll 200
4/
• 965
19th Ward 1
150
_7
Northern ......151)
.-- 245
Pacific 2__ 230
485
475
Park
295
People's 11_ 280
177
170
Phenix ___
banks. a Ex- lylc efli sn
at thls
flank.
131,
1
Plaza
.
2
. 110
Prod Ezch
11..- 2 1621._
Seaboard ..365
Second -_-_ 350
Sherman -- 133
State II.... _ 250
12th Ward
150
23(1 Ward 2 100
u n1011 Exe I 190
-lash H't3 2 230
.Vest Side Ti 500
Yorkville li 425
Ask
125
_ _
386
------..17-5 _7
200 .....
-..
---,
.../1
i rlgnt.s. ii siew
.
STOcht,-illutIEST AND LOWEST ,SALE PRICES
Saturday
Fel, 20
*812
*21
*9
40
8313
Mon,aay
Feb 22.
2
iiir4 11-1-18
8
24
24
12
*11
5513 5513
3713
:37
*8313 8412
7214 721?
7114 7114
*100 10318
-.*11812
*1314 -1312
83
*82
7773 7813
*107 10812
434 434
86
*82
7033 7933
3134
31
11113 11214
13
*11
46
*40
34
3513
98
93
*170 172
4213 43
100 10013
18
2134
7512 80
71
7414
10733 10738
391s 3978
*8013 8473
1012
*10
*6712 69
2613 2612
73
7334
87
*83
0612 (3612
*10
13
*24
31
3034 3034
103103
6934
*68
40
4778
10933 11112
4233
42
4453 4512
*11212 _ _
*59 -64*290 335
6714 6714
7934 80
WASHINGTON'S BIRTHDAY
*191 200
1414 1433
4433 4612
7213 7334
*3734 39
*97 100
2273 2273
87
*83
8
8
7434 7514
48
46
11033 11031
5433
53
*101 104
*205 210
634 7
3858 3933
2114 22
1414
*13
31
31
5253
51
112112
*712 734
43
48
*8412 85
8334 8434
10234 103
*200
*90 Wi
3613 3613
4
4 1-:;63i51-15.
4126 130
12814 12853
92
§92
30
*29
0613 9618
4314 4418
_- --22
22
4912 4912
*120 124
15
*14
2812 29
2934 30
10233 10238
3012 3734
24
23
1205g 122
1813 1812
75
75
49
*46
36
3634
70
*60
83
*80
-- .....
*85
15213 154*98 100
Tuezday
Feb 23
Wednesday
Feb 24
Thursday
Feb. 25.
Friday
Feb. 26
STOCKS
ales ol
NEW YORK STOCK
the
EXCHANGE
Week
Shares.
49u
liaiuft Sine. JoOn baais of 100-share lots
Lowe.%
H &finest
Rano, 707 Previous '
Year (1908)
Lowest
Hiohest
13 Deo
41, Mc.
812 Feb 6 1278 Jan 4
800 Wheeling & Lake Erie__
10/3
812 812
834 912
1.614 Dec
3 Apr
121.
'A Feb 21 2578 Jan 8
Do lot pret
2012 1200,
2013
1534 Nov
2014 211. 20
s.
Feb
26
Feb
1018
8
1518
Jan
pref
2d
Do
300
1012
11
1119, *10
*9
6814 Dec
;578 Jan (i
1313 Feb
4514 Jan 15
4414 14,950 Wisconsin Central
4034
38
3814 40
(391, Jan tt
7213 Dec
Feb
.9
Feb
33
861.2
pref
Do
17,800
8612
8114 8334
83
81
Industrial&Miscellaneous
190 Jan 20 191 Feb
164 Jan ;200 Aug
100 A dams Express
191 191 *191 200 *191 200 *191 200
1'633 Dec
1234 Feb 24 1553Jan 27
5 Mch
7-L1118-Chalmers
1234 1312 1273 1338 1312 1358 2,200
14
13
24
Feb
38
50
Jan
2
14 Me) 5234 Dec
pret
Do
4012 5.300
3973 39
38
38
40
45
39
8838 Nov
4513 Feb
Copper_ _ _ 65 Feb 26 8434 Jan
Amalgamated
394,808
6713
6613
65
70
7058
6812 7131 68
35 Nov
3312 Jan 5 4073 Jan 23
13 Jan
*3434 3778 1.900 Amer Agricultural Chem _
36
36
36
3514 3734 35
9513 Jan 18 97 Feb 3
16 Nov
7813 Jan
Do pret
100
8078
*90 100 *85
*9414 100
913 Feb
97
2478 Apr
97
2014 Jan 13 2612 Jan 28
Sugar
Beet
American
5,500
2312
2212
,
221
2134 2212 2113 2214 2134
8134 Dec
12 Jan 7 8678 Feb 11
65 Jan
Do pret
86
86 - *83
*83
*83
86
86
*80
23
2
1014 Nov
95
Feb
8
Feb
Feb
712
4
1,700 American Can
*734 8
714 8
734 734
712 8
7578 Nov
44 Jan
71 Feb 23 771s Feb 2
Do pret
5,050
73
7134 7234 7134 7212 72
7112 73
Dec
24 5112 Feb 15
Feb
5034
2512
Feb
4414
Foundry
&
Car
American
31,310
4612 4731
4573 47
13414 51(.5 109 Dec
4412 4778 4414 47
10713 Feb 23 11158 Feb 1,
Do pref
1,400
10712 10753 *10713 11012 109 109
10713 108
2414 Feb
4434 Nov
4213 Jan 5 56 Jc.n 25
Oil
American
Cotton
21.660
53
5212
5314
52
4912 53
5014 53
97 Nov
98 Jan 7 10312 Feb 19 580 Jan
Do pref
110
*100 10312 *98 10312 10312 10312 510314 10314
4205 Feb 5 210 Jan 8 170 Feb ;224 May
100 American Express
812 Dec
205 205 *200 210 *200 210 *200 210
234 Feb
818 Jan 21
Feb 25
14
6
Leather
Hide
&
American
1,500
4
3
6
614 614 *614
638 1'12
3734 Dec
1212 Meh
34 Feb 24 4253Jan 23
*812 7
Do pret
3,650
37
36
Aug
3512 3512 37
36
3813 34
3178
1212
Feb
18
Jan
8
2434
1878 Jan
5,015 American Ice Securities_
23
2112 2138 2212 21
21
2112 22
1712 Deo
6 Mch
12 Feb 25 16 Jan 25
500 American Linseed
1213 1212 1212
12
*13
Deo
13
14
*12
Mei:
17
5
Feb
614
12
3518
Jan
3
29
Do
pref
800
34
*29
5958 Aug
3012 2912 2912 2912 30
30
3138 Feb
49 Feb 23 5314 Jan 7
5012 13,350 American Locomotive
49
5134 4912 5034 4934 5014 50
8612 Jan 113 Dec
10014 Feb 24 114 Jan 2
Do pre(
1.030
10912 110 5110 110
111 11112 10014 110
834 Sep
Mc),
3
Feb
1
913
7
Jan
7
600 American Malt Corp
8
712 *7
7
5:13 sap
21 Jan
8
712 734 *7
.'2 Jan 7 5333 Feb 3
Do pref
100
4712
*47
49
*48
49
*40
49
*47
8413 Aug
Feb 15
70 Jan
/653
4
Jan
10
Amer
13
pret
Smelters
Sec
100
8312
*81
83
*81
83
*81
5512 Feb 107 Aug
84
84
Feb 24 8933Jan s
7833 8118 7858 8111 200,560 AmerSuaelting & Refining 7734 Jan
8313 7734 82
80
8734 Feb 11033 Aug
2 10512 Feb 11
101
Do pret
3,500
101 10234 101 10234 10134 10258 102 102
180 Aug 200 Apr
American
Snuff
.. *200
_ *200
_ _ *200
*200
80 MCI) 9713 Sep
;97 Feb 11 S97 Feb 11
Do pref
07
41 Nov
*00 lif *90 Vi *00 Vi *9(3
28 Sep
825 Amer Steel Found (new)- 3478 Feb 24 39 Jan 4
38
*35
35
35
3473 35
4712 Dec
36
36
2618 Feb
1)o old pre
Aug
Jan
9834
13734
22
Jan
134
24
6.915 American Sugar Refining 12633 Feb
12712 129
12773 129
1tii4 1-21W2 Hfs:73 12-9
129 Feb 24 12978 Feb 8 105 Feb 131 Nov
Do pret
200
12934 12934 *128 130
129 129
*125 130
Jan 13253 Nov.
101
16
Feb
12934
1
Feb
125
&
American
Teleg
Teleph
9,400
12633 12734 12713 12812 128 12312
9712 J'ly
12612 128
7212 Jan
753 American 'fobac (new) 4:01 9012 Feb 8 94 Jan 4
01
91
59053 9058
9013 91
91
3233 Dec
91
1512 Feb
21 Feb 4 31 Jan 7
2818 2714 2714 1,500 American Woolen
2833 2858 27
28313 29
97 Nov
7814
Feb
17
Feb
6
9714
Jan
9334
pref
Do
800
96
96
06
9533 9534 *95
$5312
Nov
9534 96
Feb
$2712
2
41
3734 3914 23,110 dAnacondaCopper Par325 $3734 Feb 26 $5053 Jan
4178 38
4234 40
40
$5 Mch
1212 Jan
100 dflatopilasMin:ng Par$20 $278 Jan 29 $314 Jan 4
*278 3
*273 3
*234 3
3
3
2714 Nov
Jan
12
25
23
2614
Jan
Feb
2034
Steel
Llethlehem
1.700
25
2114 2114 *20
21
21
2034 21
57 Nov
35 Apr
47 Feb 24 54 Jan IS
660 II do pret
48
48
47
47
49
47
48
48
385 Feb 15214 Nov
118 Jan 28 130 Jan
400 Brooklyn Union Gas___
123 123
120 120
119 119 *118 125
Nov
17
Jan
2
6
1638Jan
13
Jan
13
)
.
Brunswick Dock&O Im1
15
*1212 15
*12
15
*1:3
1512 *12
2378 Jan 2 3312 Feb 4 ;10 Feb ;25 Jan
1,336 ButterIck Co
31
31
*22
2714 2713 2714 *28
27
33 Dec
Feb
4
1513
Jar)
23
33
Feb
2734
Central
Leather
10.365
29
29
29
29
2913
2734 2958 28
7534 Jan 102 Deo
10013 Jan 13 103 Feb 28
620 k) Do pret
10133 10138 101 101 *10012 10134 10213 103
42 Dec
1558 Feb
29 Feb 23 4512Jan 7
43,960 Colorado Fuel 4.% Iron__
3113 3114 32
3038 2912 3113 30
29
2712 Dec
11
1434 Aich
Jan
28
23
21313
&
Feb
5,850
Col
Iron.
flock
&
Coal
2433
2313
243s
213s 227s 2212 2314 23
Deo
167
Jan
4
96
Jan
4
16514
Feb
12314 12412 12413 12712 27.975 Consolidated Gas (N Y)_ 11412
11034 12113 120 125
2012 Aug
1034 Feb
24 2012 Jan 27
Feb
1613
Refining
Corn
Products
6.000
1734
1712
1712
17
1612
1734
18
1634
Aug
/0
767
Jan
Feb
16
56
3
24
Feb
pret
Do
7314
500
7312 731 *1 75
7434 7314 74
74
4514 Oct
4712 Oct
45 Jan 5 4c.13 Feb 23
_ -- --100 Crex Carpet
49 - ---*45
49
4613 4612 *45
2714 Feb
2834 Dec
015 Jan 21
23
Feb
3212
Distillers'
Corp
Securities
7,910
3434
3
35
333
8
5
3212
3415
3313
3212 36
94 Aug
7212 Nov
110Federal Mining & Smelt''; 60 Feb 23 7114 Jan 28
70 *........ 70 *---- 70
570
60
60
89 Nov
59 Feb
10 Feb 24 64 Jan 15
83
83 *79
8013 *80
*80
80
83
6812 J'ne
55 J'ly
_
Federal rergar
SugarSu
...._____ ..._
Ref of N Y
7313 Feb 100 J'ly
Do pret
_ _
100 Jan 25 490 Jan 25
-_ *85
*85
--- *85
*85
Deo
16234
Jan
4
Jan
111
15018 Feb 23 158
4:310 General Electric
15013 15213 15013 1-53 *15114 1-531,3 15212 153
7834 Jan 10913 J'ly
96 Feb 23 110 Jan 4
200 Granby Cons M S & P
95
*90
98
*92
98
06
977,3 *93
Nov
6753
Joe
52
11
Feb
66
30
Jan
62
ettsnt
tr
I
Harvester stir
900
6513
6373 6413 *64
64
64
64
64
99 J'ne 11014 Nov
_ _ 18914 Jan 16 11512 Feb 11
6,550 L Do pret stir tr
11034 111 *11038 111
11034 111
11053 111
9 May
6 Oct
Jan 2
25
9
Feb
7
ctfs
stir
tr
et'sMer
Marine
fat
1,110
8
712 *738
7
2678 Dec
733 712
738 734
16 Feb
21 Feb 23 2753Jan 2
Do pref
1,975
22
22
2112 2214 2173 22
24
21
1314 Nov
8 Apr
10 Feb 25 1212Jan 4
1.162 International Paper
11
1012' 11
1012 1012 10
1013 11
65 Jan
Jan 4
47 Oct
25
5634
Feb
51314
pref
Do
2.800
52
*50
5014 51
Dec
3973
5212 5412 5112 52
Jan
2
13
4213
Jan
25
Feb
3312
6,750 Internat Steam Pump
3412 3312 3434 3413 35
34
38
36
3414 Dec
65 Jan
6212 Jan 30 8634 Jan 4
Do pref
600
8312 8313 8314 8314 8213 8213 8334 8334
78 Nov
Feb
4
52
Jan
76
21
Jan
70
Companies
Mackay
7112
800
7112 *7013 7112, 7113
7214 70
72
7134 Nov
5973 Feb
(3912 Jan I) 72 Feb 11
Do pret
200
71
*70
*69
7114 7018 7013 *6912 71
97 Dec
68 Jan
9613 Jan 2 10853Jan 16
1,050 INIational Biscuit
*98 100
100 100
10014 10014 9912 100
12012 Dec
Jan
15
102
Feb
x121
Jan
11
11812
Do ;net
105
11953 11958 *11834 120 *113 120
4120 120
1514 Deo
71, Feb
1258 Feb 24 1514 Jan 27
700 Nat Enamel'g es Stamp'g
1234 1234 1253 1234 1273 1273 *1212 1234
62 Jan 5 85 Jan 21 §70 Feb 28214 Deo
Do pret
160
83
8214 8214 *81
83. *81
81
§81
Aug
92
Feb
36
22
Jan
25
8112
Feb
7114
Lead
25,900 National
7114 7313 7112 74
74
72
7212 77
5'7l, Jan 10614 Nov
10558Jan 4 10914 Feb 2
Do pref
*104 107 *103 105 *10414 105 *104 106
$973 Jan
Oct
2
3
Jan
$43
25
6
Feb
418
S_Par$10
&
M
Newhouse
4,000
453
418
412
412
458
412
453 434
98 Nov
50 Jan
80 Feb 23 92 Jan 8
8212 1,215 New York Air Brake_
81
82
82
80
80
82
80
78 Nov
4213 Mch
72 Jan 13 8412 Jan 27
2,700 North American Co, new
79
7813 79
7813 78
78
79
78
4014 Deo
24 Apr
14
Jan
'24
3634
Feb
2913
Mall
pacific
6.400
34
3212
34
2913 3112 32
2912 32
Deo
10612
Jan
1S0
15
Feb
114
Jan
13
10112
C
&
(Chic)
L
10013 11134 11014 11113 110 11113 111014 11034 20,985 I- eople's G
Met) 1453 Deo
1014 Feb 25 13 Jan 7
200 Pittsburgh Coal Co
*1014 12
1014 11
13
*10
13
*10
50 Deo
3613 Feb
19
25
4712Jan
Feb
40
pret
Do
300
4014
4014
40
40
44
*40
45
*35
45 Deo
1714 Feb
3012 Feb 23 4314 Jan 22
3173 3234 3234 3273 5,850 Pressed Steel Car
32
3012 3314 32
69 Jan 10214 Dec
90 Feb 26 103 Feb 2
Do pref
280
96
;9712 9712 96
98
*95
98
*90
Jan 174 Nov
147
19
172
Jan
30
Jan
169
Company
Pullman
172
100
*169
170 170 *168 171 *168 172
4914 Dec
2334 Feb
3912 Feb 24 4834 Jan 2
4114 4114 411 1 2,200 D allway Steel Spring
41
4213 3912 41
40
75 Jan 103 Deo
9778 Feb 24 103 Jan 0
935 I %, Do pref
9873 9878 9912 9912
9012 9773 98
99
29 Nov
Feb
1434
8
3
4
2
2612Jan
FebFeb
_...
Iron
&
Steel
1761583
6
Republic
11,505
1914 1812 1913 1873 1914
17
1653 18
6912 Nov
63 J'ne
5814 Jan 22
Do pref
7012 7178 12,650
70
69
671,3 71
6714 71
8134 Nov
66 Jan
23 8113 Feb 9
68
Feb
Jr
&
Steel
cl.loss-Shettleld
0,765
7112
7012
7012
70
7114
6913 6914
68
8713 Jan ]1014 Dec
10738 Feb 20 1097s Jan 27
200 k-1 Do pref
108 108
*10714 10014O'10714 109
*10714
Nov
$5214
Feb
$2513
4
Feb
26
Jan
53434
549
3613 3778 3434 3714 21,330 aTennesseeCopper Par$25
38
3714 -3914 36
8412 Dec
45 Feb
200 Texas Pacific Land Trust 8013 Feb 23 8513 Jan 19
84
*80
86
*80
85
8012 8013 *80
Nov
s
95
Feb
914
4
Feb
Jan
24
1113
12
&
Paper
Mon
Bag
F1
200
1
1012
1012 *9
914 9 4 *0
6634 Nov
912 9,2
4478 Jan
66 Jan 8 6934 Jan 22
760 L-) Do pre
*6212 68
*8213 68
70
6712 *65
67
3073 Deo
1712 Feb
9
24
3034
Jan
2433
Feb
Founds'
&
Pipe
Cast
1
S
U
550
2534
*2412
26
*2433
2438
2578 2433
25
784 Aug
5658 Jan
73 Feb 20 77 Jan 8
Do pref
220
73 *--- 73
7018 *88
470
75
*70
90 Jan
70 Feb
82 Feb 10 85 Jan 21
United States Express._
85
*80
85
*80
84
*80
87
*82
64 Nov
6(114 Feb
26
57113
Jan
Feb
23
64
&
Improvem't
Realty
S
U
1.010
65
65
66
*64
§6312 6312
65
64
1514 Aug
4 Feb
1212 Jan 16 1338 Jan 7
U 8 Reduction & Ftefin'g
1212
*5
13 *___. 1:3
*9
1:3
*9
30 Aug
16 Feb
24 Feb 24 32 Jan 19
Do pref
32
*24
32
*24
24
24
30
*24
3712 Aug
1734 Feb
Jan 2
24
3413
Feb
27
Rubber,._.
United
2,200
States
29
2814
29
29
29
27
29
29
76 Feb 108 Deo
98 Jan 29 107 Jan 11
Do 1st pret
3,093
101 101
10113 10212 100 10112 10014 101
7512 Nov
42 Feb
6712 Feb 25 7334 Jan 5
Do 29 pret
200
70
6712 6712 *65
70
70
*67
*68
5834 Nov
5513 Jan 22
2534 Jan
23
Feb
4114
Steel_____
States
United
948,663
4318
4413
4334
4114 4434 4113 4.114 42
Nov
37l
11453
Jan
22
Jan
115
Feb
23
107
Do pret
107 10834 10718 10914 10773 10934 10918 10973 62,575
$3913 Feb 26 54773 Jan 4 ,20 Jan $5234 Nov
40
40
42
4213 3934 4012 3913 4038 9,800 dlitah Copper_ .Par $1(
4534 Deo
Feb
16
4818
25
24
Jan
Feb
4073
Chem_
a
9,500
VirgInla-Carolin
4358
4234
4153 4478 4073 4234 4213 43
114 Jan 19 115 Jan 19 x87 Jan 115 Nov
Do pre
140
_ 115 115 *11212 ,..
*11212_ *11212
68 Nov
43 Jan
57 Feb 23 64 Jan 6
200 VirgInia Iron Coal de Colt(
57 -5-8- *50 ici *5634 60 *5634 -60
300 Jan 5 300 Jan 5 5250 Feb 325 4 Nov
_
Co
_...
_
&
Fargo
ells
335
*291) 335 *290 335 *290 335 *290
713 Nov
Feb
41
24
701,
Jan
2
Feb
estern Union Teleg_. 64
2,200
66
64
6513 6412 6434 65
I 6473 60
38 51ch 94 Nov
74 Feb 24 8618 Jan 4
Mtg asset
7473 7512 7,400 Westingh'seEl&
74
76
76
75
77
75
58 Meh 125 Nov
14,', 1,4, rs robf
k
11A
115 Jan 18 120 Jan 4
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4114
8314
lin.
2212
11
4034
8334
547
.New -York StOciK &Cord-Concluded-Page 2
FEB 27 1909.
10
21
11
43
8454
*9
2013
1013
4212
8473
T2(2
11 r:
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS
Ask
Crust Co's BidI Ask
Ask
Trust(o's Bid
47114
Trust Co's Bid
Trust Co's Ittd
Brookyin
1130
NY LIfe&Tr 1100
560
Guar'ty Tr_ 550
N Y City
Brooklyn Tr 400 1 415
N Y Trust_ 46) 570
173
195 Guardian Tr 160
11,i
2.- 160 Carnegie __ 185
,
-- 125 ! 130
Citizens'
-325
Tr
Standard
150
140
___
Eiudson
2050
___ Central Tr- 1950
155
410
__ Flatbusti -- 200 l _ ....
-_-- ,TItleGu& Tr 445
KnIckerb'kr 310
240
160 Columbia _ 235
150
145
132512 _ __ Franklin __ 195 ! 21-0
Am
of
Co
Tr
--23834
145
1
140
&Tr
I
Law
T
Commer,lal
-110
260
; 275
-- Hamllton
Union Trust 1100
..- Lincoln Tr_ __ _ 195
-30; 100 Com wealth 150
130
104 : 110
__-- Home
US Mtg &Tr 375
Manhattan- 350- 400
Empire ..... 240
125
_
1176 Kings Co _ 465
1140
States_
Unit
.-725
430
450
Tr
Mercantile
Equieble
125
Trust Co's
306
265 L 1st L & Tr 295
___ VanN'd'nTr 255
Farm Lo &T 1200 1250 Metroportn 540
N Y OM/
425
......,
1107
__ Washington 400__-- Nassau
-- Morton Tr.. 425
300 315
Fidelity ___ 200
____ Astor
_
280
Westchester 140 150 People's _
125
__-_ Mutual ____ 120
--- Fifth Ay Tr 325
Bankers' TiT1 COO
145
lOr
-- 80
135
Willlamsbg
135
Windsor __ 130
-_-- Slut A:11'nm 125
Bowl'g Gr'n 375 385 Fulton ____ 270
270
.
13212 ___
ll'wav Tr
310
b New stock. C Ex-cliv. and rights. d Now quoted dollars per skate,i
•Bid and asked prices* no sales on thls day. ;Less than 100 shares. I Ex rights.
banks.
are
State
(I)
paragraph
a
with
marked
I Sate at Stock Exchange or at auction this week. s Trust Co.certificates. 9 Banks
Bid
Banks
Brooklyn
_
Borough 11_
Broadway 1 63511
Brooklyn $.. _ _
24-5
First
HIllsidell___ 110
Home 13k 11_ 110
Homestead% 100
Manufac're 400
Mechanles'11 1235
Montauk _ 140
Nassau --- 240
Nat City__ 290
Ask
Banks
Brooklyn
North Sides
People's....
Prosp'etPicli
ferminal 11
Union1i___
Bid
Ask
--260
New York Stock Exohange-Bond Record, Friday. Weekly and Yearly
,
,xvp; /or Income and defaulted bonds.'
Jan, 11900, the Exchange method of quotii I bonds was changed, and prices are now 47-,
.7---"and Interest"-BONDS
N. Y. STOCK EXCHANGE
%riotIt ENDING FEB 26
2
Price
Friday
Feb 26
,.....
1;34
Week's
Range or
Last Sate
Range
8Since
4:1Z Januar),,
RON Ds
N.Y. STOCK EXCHANGE
WEEK ENDIN0 FEB 26
4..9z;- Ir.,•''..-
en ce
Priam,
beb '16
weeit's
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bast' sate
.,
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4 Z Januar,/ j
Bin
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101 101% 101 14 Feb'09 ...
103 Jan '01..
2
/
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4 1011
/
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/
.... 107 J'ne'Oi .
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/
119 11934 12058 Nov10
120
122 Nov'US
10014 102 10314 Mar'Ut
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ow .High, Cent of Ga lilt-(Con)
6914
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66
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4
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11/4t 3.3 10314
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105
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g-F
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i2s% .126., 4 127 12858
Q.F
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h1981 Q•J 147141211 12714 Feb'Ut
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120 127%
110
j
j'.
54..1921
r IVO 110
110
Am Dock ad lamp gu
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ent
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to & Hutt It geugtig54 192u j.j
004,
9034Jan 't.
Leli & Wilks 13 Coal 54..1912 41.114 100
Imperial Japanese Governing
g1019 Q.Nd 10038
109 4 [00 14 21 v078 IOU %
111211 F -A t 9214 Hale 914
Con ext guar 4128
sterling loan 4.14s
nit 7:' 5038 5334
....
1025 .1- 3 t 91% Sale
4 8t 894 93
/
1)078
911
N Y& Long Br gen g 44 1941 M•is 100
2ti aeries 4 lus
Cent Pacific See So Pacitio Cu
1931 J -J t 8378 Sale 8334
84
1 3034 83
Sterling loan 43
85
es Mity'0 .
CentVermont 1st gu 94.4 611120 Q.F 83
4 102% 14 10214 104
/
Retails ot t'riba (is extol, dem. .0.8 /10214 sale 1021
Line
1,4San Paun(Braxii)58 trrects'lli ,4.3 11 0234 Salo 1111214 113% 35 1!92% 0378 Chas& Say See Atl Coasta1911
A.() 103
4Feb'01.1 ._. 1031410318
/
1031
914 sal* 97%
b 734
2 9734 101 1.2 lilies & Ohio golti Us
U Zi oi Mexico s 1 g 64 oi 1800 (4-.1
1931 4414; 115.4 isalc 110,4 ,1618 31 11458117
1951 J.1) 9314 94
1st COLISO/ g 54
Gold 48 01 1904
92% 04
9334 Feb'09
14 12 Feb'Ut/ .. . ii312 114%
1930 •-N *.14%
i 2 aeas ore pr ices on the b eels of $3 to Z.
Registered
-state and City Securities
Gen funding & impt 59 1028 J.J 152 L.A.4111(1 Alhk, 1.112.16 01. l01.I4 10214
1992 ...s 106 14 83". 106% luU% 13 104 10658
uenerai gold 4 4,48
11/24 F-A 10814
110 Nov'OS
Dist of Columbia 3•654
100.,, A.s 102 10434 t04 Mus'ut.,
Registered
IA/
10512 Dec'04
Ltoulautusi new 0011801 4s 11114J-J
0078 2038
11014
4 9018 91 •
1941 j.D 00
Big Sandy 1st 4s
New York Cityj DM
109
103
1 107 % 11034
64...J040.1
g
1st
Valley
195
M.
Craig
102
Sale
Corporate
102
8
1017
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101%103
41'lb
1.10
Jan
00
90
'09
90
.
J.3
44_1114..,
1st
Br
Creek
bonds
Stook'
Potts
_101it.
assessment
10134 Dec'Os
406
WU% iuu% t0U1
4 d IOU 10014
/
1957 4144 111%112 111 14 111% 1 i li 1111/4112%
it ed A Div 1st,con g 44_1980 J•J
New 412,14
545A 08
1989 J..)
1041, l., '04 10414
2i1 consul g 48
14111 31-14
104
New 4½s
.1314 P'eu'06
......
Warm Spr Val 1st g 04_1041 M-2 12714
41.12% Corporate Stock _1957 M-5 111%11134 11114 11158 .3.• 11114112½
I/5 sop '0/1
Greenbrier Ry 1st gu g is'40 M•N ,
131'? 41-N 104
104% 1043
1', 104 104½
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7 '. 111 78'4 80
.
)
1957 81-N 102 bale 11.134 102
11'.: 101% 103% Chic & Alt RR ref g 34 1919 A-0 * L.
Corporate StocK
8'
.
40
76%
15% 21 '14
.43't Salt` 74
Railway 1st lieu 3%4_11150 j-j
4 11234 110 Aug'0.'. .
/
N X State-Highway 44_1058 M.s 1121
73
75.2 73 Feb'u. ..., 73
19511 j.j
Rot...uttered
1933 3.3 102
so Carolina 4 1-44 20-41)
I 02 k4 Jan'00
10214 1021/4
100 2'00'09
100 100
rena new settlement 34-1913 j.j 05% 98
9534 Feb'09 .... 9514 9344 chit; Burl& Q-Uenv D 44 1922 F-A 111.1 101 Wu% 100% ..,
.1
99%
10014
101
Mb M-2
tieueral 4s
03 Jan '09 .... 93
95
Virginia fund debt 2.3s 1091 J -J
110
93
In%
A
9458 9214 1/1.2
1941, j...1
01
03
Illinois Div 3124
4212 Feb'01. .... 42
ill
66 deterred Brown Bros ott's ..„
43
48
92% 0134 tee'llb
Ill
Registered__ ..„ __limo j.j
,
4
;
1021
10414
1011
11/2
4 1031.8
/
10214
it ttiirond
1941) J.J
his Div 45
08
iuwa Div 11111K tund 64_11/10 A.0 106 107%104% Oct'
A I:wawa Cent Bee So Hy
90 4t 100
.00 Feb'M .•
1919 A-0 1°0
Sinking fund 48
alaba Midi See At Coast.Line
1-1/ 10114 102
Nebraska Extenslou 44 1921 41-5 102 Sale 10134 102
Libany & Sus° See Del& Huu
101% Oct '01. .
11127 M-5 101,11.
Registered
kitegiieny Valley bee Penn RR
99
LW Jan '09 .... 99
111)4i
1921 Al-s
Southwestern Div 46
klieg & West See Bun it & 1'
Joint bonds See Great North
86..,
8614 8714 86 Feb'01. . . 84
Lnn Arbor lat g 44
41091 Q-J
102 103 103 Feb'09 .... 102 10314
;81-.L.;
1913
5s
Debenture
4 sale 101
/
101% 112 1001
ktoli T & 6 Fe-Gen g 44.1993. A.0 1011
4101 12
/
, 10358 10334
Han as StJo8COU8Ol 64_11111 WS 103%104 1-2 1.93% DM%
4 Feb'09 , 90 100/
/
4
1
191/3 A-0 10058 101 1001
Remstered
90
- 85
ba .2
87.2 sale 67 44
1441
4 ../
94%
14 92
05
41991 Not
Adjustment g 48
95',, Cinood E Ill rel as unp g 4a 11155 J.j 130
1311lfeb'01..
..12914130
131%
Feb.01
A.0
924
2
/
1034
031
64
4
g
1/2,
consul
No,
let
4
41991
Registered
4 921
/
921
4
Feb
le
'Ul.
....
lb
1141-A1151
1
11514115'-.
NI.N
1037
General cousul Du 54
04%
04% 1/5
/411/06 31.14
94% 21 92% 0514
" St:tinned
11/37 .1.1-N 1134 11614 11414 Jun '013 .... 11414 11414
Regibtered
10414 /11 102%10434
1056 .1.1) 10434 Sale 103
Cony 84s
115
lioll'Ud
....
1.11,
.15
.1.11
107%Sale 10014 1071
101'7
4 201 10111
/
4 10714
10-year cony g 54
/
Om°.N5 Lau° ILY "
1 58-19
"
-J 114
4
/
90 14 Mat'Ob.
. Clocago & Erns See Eros
Debenturea 48 SeritasH 191t, F-A* 081
129
1 127 129
129
.,.4'
Clue in ik, Loutsv rot 64. .1047 J • .1 128
1911 F.A .. 9644
9814 Nov'04 .
Series 1
[13 11478
4Pou'Lle
/
/141
gold
1947
58
.
J -J
Retunding
1913 F -A .. 04
1,°14
94 Nov'Ott
Series K
a 111214 10214
4 10214 ....
/
.021
....,*=,
lAnueV N A ad Ch 1st64 101U J • J 1°
0714 97,1, 98 Feb'09 ...• 97
East Okla Div 1st g 444-1928 M-S
411/
Feb'LW .... 10458 105%
,05
%
Iva
Le
4
)
11
.3
J
P
St
1914
term
be
g
&
hill
4
1153
98%
16L,
Sale
Chic
g
1058
3-4
4.s
9314
1st
Line
Short
9414 9914
General g 48 8orieti A-41989 4.4 10414103½ 103 Feb'09 ... 10214103½
&U. Knox ad N bee .1. & N
..
..
4 Oct '08 .... .
/
1031
e1039 Q„j 101
Registered
4 21 941
/
971
4 97%
/
ktlantic Coast 1st g44./s195'2 M.5 00% 967 97
02% 1/2 Feb'utt .... 1;1% 0234
1111
General g 3128 series 13 e11/81/ J..i
4
J
7a
1939 -J 1303
Oharies as Say lat g
'08
Out
11614
12358 J'ne'06
Ohio ad L Su Div g 58....11121 J • J 110,8
/Say 1'& W let gold 64 1934 A-0 12812
'08
Ohio & hio Riv Div 54...11/26 J • J 1l2 5 113% 112 8 Sep
1034 A-0 11214116 11258Jan'04
W.gold 68
4
/
1910 ,j -J 10134 102 14 1017 Jan '00 .... 01781011
Chic as Pao Div 64
11458 Not'05 .
Ala Mid lilt gu gpld 64 192 it-N 108%
Ifeb'0,4
.... 1011 12 11038
4
1
Llt/
1101
110%
4
/
091., filar'0 •
1021 J -J
Chic & P W lat g 54
94
Bruus& W let gu g 4s 193ti J -J
105% 106% 108% Peu'u, .... 105',, 105%
J•J
9952
1916
dal.
8914
4
/
So
901
Lit
511
g
ah
Dak
31-5
0,
o1952
113.2
44
86
13 62 N coil g
131.24'.ty 'Ie. _ . .
93% Sep'Ua
1921 J •J 12214
Par & Sou assu g Lis
96
SU Sp Uca & 14 gu g 44 ..191b J • J
t0258 10214 it 102%192 4
1910 J -J 10258
Bast & D Div lat 74
6.t1antio & Dauv See South By
it/134Ape'ua .... ......
1005
4.3
1910
58
1st
Pacific
Sou
itustui ad N W See
2 Nov 08
100
„,74
10
0414 Sale
941
11)19 J -J ,
4 39 93
/
LaCrosse as 14 1st 64
9314
9414
alt& Ohio priori g 3128.1923 j.3
10138Jan'00 .... 1011
4 101%
/
1910 J -J Jul's.
9312 93 Jan'09
Mineral Point Div 54
93
93
/i1925 Q-J
Registered
v 101 44 102
101% 1004
Sale
.1111%
J-J
1910
101
100%1UL
Minn
1008
Div
68
44
lat
So
4
/
/4104- 5-0
100141011
Gold 44 •
1
4
100%
11103
10034
4
1e03
9934 100
93 Feb'0
1900 ,1 -J 1004
41943 11.3
Southwest Div la t 64
99 10034
Registered
110 Jan '01. .... ltr-.P4 110
120 (AA '01
1921 J -.1 110½
Wis its Minn Div g54
1 108
...
PIttaJ nue let gold 64...1022 J -3 .
1004 Nov'Ob
1021/4
J•D
811
Jan
2
891
1910
&
31-14
lat
Mil
L
No
M
68
'000 149% 8912
eJtiti dle AI Div 1st g 31281925
Lu'i t‘a Dec'03 ....
1913 J -D 107
lat consul Os
... 96
1/0
95 Sale 95 . 95
P L E ad W Va Sys ref 481041 M-N
9 .11658 116
110 sale i1514 116
9114 14 9034 9178 clue & Northw
. 1.515 (,.F 10014103
91 Sale 91
80tithw Div 141 g 3%a. .102.5 J -J
09. J'ne'Od .... ......
g.A
18a.1920
cons?8
'06
Oct
83
91
Extension 44
41926 ti•J
Registered
4
/
91/1
01.1%
3 9234 0034
103
LOU
4 h'eb'u'i ....
/
1051
1886.1026 P-A
Registered
Motion Riv lat gu g 64-1019 F•A 102
64 112% 9134
23
03 Sala "'a
198'i .11.14
100 A pr'tg, ....
102
General gold 3'ad
Oen Oluo 11 1st e54444..1030 NI8
(1338 93%
Feb'09....
1/33
1,318
...
'09
49198? Q-if
113 Feb
Registered
110%113
LA Lor & W con 1st g 94 MI; 5-0 11314
ill.2 hiuy'08 ...
113 12 Feb'09
112',,
Sinkuig fund Us-1879.1929 A-0 .111.
113%113%
Ohio River RR 1st g 58 1936 J.
WU% Pou'09 .... 109% 100%
"0'4
...
10.
1.879-19205.0
12Feb
111
Registered
------112
1081
4 112
/
1937 A-0
193% ifol.e01/ .... 102 108%
General gold bs
119% Mat'04
..... sinking (Lind 5s-1879-19211 5-0 1,02_
Pitts Clev &Tot 1st g Us 1022 A.0 1%
IDA Jai:1'W .... 11034110%
1879-1921) A.0 103-'4
97
101 Nov'Ob
Registered
*4 .0014 10012
Pitts & \Vest lat g 44. .1'317 J - J
100% 100%
WO%
Nov'04
190911-11
5a
Lou
Debenture
Statist kV lat gug412-4 1943 4-1.)
iul Due'Us
11/00 81-N
Registered
108 Jan'00 .... Los 108
Sat Creek as s See 'Mush Cent
101114
A•0
1021
Ss
Debenture
103 J'netli
Beech Creek See N Y 045 H
,
1921 A•0
Registered
ill
Bellev & Car See Illinois Cent
113
2. 1111
4113
/
1913381-5 110'5
Sinking twat deb 64
1011 J'ly '0,) ..... ...
Bklyn & hioutauk See Long 1
.
;
..
M-5
1933
Registered
L
10214 Deo'03 ...
Bruns ad West See AU Coast
,
'8
0
10,
M-S
1910
North Illinois 1st 68
......4 119 4
119
i ii/1,4Febiub
Buffalo X Y ad Erie See Erie
.., '01) ••••
-,-,4117% 11714 Ifeb'0. .... 11612 11714
/
Mil L 5& West let g 64 1021 M•S "?.% 42013 LI.
Jan
.... 11314115
Buttalo R ad P gen g 58 1937 31.2 1171
Ext & Imp 8fund g 54 1020 17-A 11334
109% 109% Feb'011 .... 100 109%
106 i M-14
Consol 4124
1421411902
0
100 Jan'09 .... 100 10
Ashland Div 1st g 04_11125 (v1-5 129s4
Ail & West let g 4s gu 1911b 5-0 100
123 Jan'09 .... WS 123
1924 J -J 122%
103 .PIN•'08
Mich Div 1st glfs
1943 J•J 11658
01 /5 Mali 1st gu g 54
109 Sep 'US _
1911 M-5 101
Incomes
Roch & PItts 1st g 614-1921 F-A 111/ 119½ 118% Ifeb't/t, .. 11834 11834
114
114
2 1.57811412
111%
114
1211
4 lb 1l834 121% Chic Rock Isi & Pau 68-1917 J • J
/
1022 J •U 121% Sale 121.
'Conaol 1st g Os
112 L., J'iy'08 ._.
1917 J-,1 11234
Registered
Buffalo 80 Southwest Bee Erie
100½ 101
0978 101%
Sa
Sal"
101
•J
J
1038
Gummi!gold 44
89% 8934 Jan'09
8914 90
Bull Oh Suse 1st ref g 4841051 J -J
t'1%Deo'04 ....
1988 4-4 ......
Registered
But0 It & N Beef) It I & P
1!2%
0214286 .,.054 94
02143,111
A.0
11134
g
107
44
Reftunling
25
106%
1007
Sale
8
4107
/
1061
1913 J-J
i uin So 1st ext Os ...
J'iv
- '04- •-••
,,2• •-•• 97
ut3'
Coll trust Seriesli 44 -1910 M-li
4
/
102% 102% 7 102 1021
1913 tS1-5 102%
01:12Nov'Ou
•-)2d Os
... .
Ou 4
1912
J 44
.
I00% Ai ay'l/7
1013 .41- 2
B,egistereti
1915 1111-5
Ai-ki
9414 ----0414 Ve14101. ..... 9414 9414
dit
AL
Carb & Shawn bee 111 Cent
33% Feb'09 ..„ 9344 9334
9334 /5
N.14,
1911
N 4s
Carolina Cent bee Snub Air L
05 Ifeb'M ... 05
4
/
931
95
1917 di-5
043
Carthage& Ad See N Y 0its B
9214 96 4 84 Aug'0,
11/1a .0•N
1/48
7714
Ceti It La .b.& N Nee B0 Rad N
sal',
11178 649 75% 8114
'46%
31.N
Chic It 1 & .Pats ER,44-2002
Ceu Branca ity See Mo Pao
05
Aug'Ob
•
2002 31 N
..
Registered
11614 Feb'09 . [151411614
Cent of Oa RR lat g 64.4p1945 If-A 115
0114,31 in.2 9314
111 dale 00
1913 si.s
Coll txust gold 54
1045 M-N
108%111
110% 11012 Feb'09
Coned l goitt 5a
our Ced R & Northern..
113 Aprgas... .
1945 31.f
Registered
. 116 Feb'09 .... 116 117
113
A-0
1934
54.
g
tr
col
&
14t
Con
80
9
.
7
'0,
...
79% 79 Feb
1st pret income g 68.....p11/45 Oct
12014 Alar'03 ._ ......
1934 A-0 ......
Registered
78 Dee'08 •
.
Stamped.
111 Nov't/5
C1111?& N W lat gu 54 1921 5-0 107%
04%
6412 1 63
4
/
661
60
2o pret income g 68-• -121945 Oct
126
4-I
78_192?
K
List
KU
St
&
hi
60 Jan '01i ... 60
60
00
2d net income a 58 ;tamped ,,..
U. s. tioverttttt mit
U 528 consul registered.41931
U 324 consol coupou...41931
k1916
U 5 Is re.snstered
k191/
U 83s coupon
U 8 Is reg 8M1111 8011118 k15ib
V 83s con small bonds k101b
1923
U 6 4s registered
1923
U 545 coupon
If S Pau Can 10-30 yr 24.k103c
B
.
-Continued on Aext l'ago.111SCEL,LANE011s 1.10.50.
street Itailway
194, A-0
' Brooklyn Rap'Fr g 58
2002 J -J
1st rotund cony g 4s
J
Bk City 1st con 54.1916 1041
)3k 4Co& 6 con gu g 54.1041 ..1-5
Bklyu On El let g 4.54.1050 F -A
Stamped guar 4-54....1050 F-A
• .
1 Kings Co El 1st g 44....11/41) F-A
11140
Stamped guar 44
Nassau Elec gu g 44....1951 J -J
Conn Hy& L lat ad ref g 4124'51 J -J
1901
Stamped. guar 4124
Deu Con Tr Co 1st g 64._1933 A-0
Jet United 1st con g 4148.11132 J -J
Havaita Elec consol g 64.1052 F-A
1956 A-0
Inter-Met coil 414s
Inter Rap T S-yr cony 1.8.1911 IVI-5
Intermit Traci colt tr 44_1940 J-J
Mandl Elec let & coil 54.1953 M.S
iaii
pr.eu etlitay; latest this week. lytat. (Limo Jou a Due Ayr
Street Railway
4 85 Feb'1.),
85,
841488
Met St lty gee col tr g 58 1997 F-A
58 Feb'09
511
63
03%
68
2002 A-0
Ref g 44
101 107 103 Feb'011
LO3 105
Bway& 7thAv Istcg5411/13 J
107
102%
Feb'09
1025.10214
91.5
54.11/93
Coi45othhAvlstgu g
10214 Feb'09
Wu 102%
Lex Av P b'1st gu g os 191111 31-s 1,102
70
7.1 IfebUt
71
2(101) 4-4
Third Ave RR eon gu
67 Sale 67
MN 22 67
7112
Cent Tr Co certfs stmpti...
109% II l 110
110
17 100 12 11612
Thuxt Ave ii,y 1st g 15s..1937
03% J'iy'06
31et W S El(Chic)1st g 44.193r. F-A
91114 .44,9 .00
79
N Or!Ity 41, Lt gen 4124 .1933 J -J
90
08 Nov'Ob
St Jos RyLIH & P Ist g 54'37 NI-N
J
-J
1.10%
C•4.193?
Nov'OlS
con
Cab
g
City
at Paul
40 Aug'Ob
..
Underground of Lou 58. .1020 M-N
73.2 81
4 80 Feb'09
/
*801
.............._11133 J -J
31
28
30
2978
1948
29% 7 22
Income 64
84 Oct 'us
Onion El(Vim)1st g 04..1045
74
7312
b 72
74
74
United Hits San Fr a f 44.1927 A-0
34 14 85
90
NO Feb'09
80
United Rys St L let g 44.1931 J -J
p 1)0e .rov a Ouuou Sal*
Due ue aDue •ty /C1/11.0 Aug oime utst
el Due .r1ay
105
1 10214105
10414 105 105
4
/
83% Sale Si', 84 341 51 1 551
105 Feb'01. •-• 105 105
103%
91 Oct'03
...
93 100
160% 103
102 102% 10234 10234
102% 100% Nov'Ot.
......
86
86 Peb'011
86
85% 57
1 85
a?
87
86
4 87
/
861
51% '2 78% 82
7734 8134 a 1 %
10238 1024e
102% FO5
101%
1(1114192
101% Sale 1111 38 1111",
J'110'00
84tg
84%
65
8114 84
80
80 Oat'WI
7912
76,4 81%
78% Sale 77
103'2 Sale 103% 103% (11 10314 104
70 Deo'Ub •... ......
72½
98 him'06
Ds
N. T. STOCK EXCHANGE
WEEK ENDING FRII 26
549
New York Bond itecord-Continued-Page 2
FEB. 27 1909
t*.
Price
Frtclan
Feb 26
I
Weetc'a
J2ange or
Last Sale
Range
Since
JanitarY 1
BOND:,
N. Y. STOCK EXCHANGE
WERK ENDLNG FEB 26
'
•t
Price
Friday
eb 1.6
Range or
Last Sale
bangs
Since
/anware 1
Bum .Vo 140411 High
A 8K Low
HUI
Hag/. No Low High Erie--( Con)
1140.
..wat bow
Chic Rock L & Pac-(con)
4
/
107 1071
N2Y
dS
s 4428.
uid&
gd
102 Aug'o8
W 1st ref 5s.1937 J -J 107 101) 10719 Feb.Ult
4
/
Choc Uk.& (4 gen g es.o1919 J •J 1021
00
Dec.
4
1001
-A
F
Nor'08
107
1101
1937
112
4
/
Consol gold 6s
1952 VI-N
92
91
'01)
Jan
81
F•A
'09
103
Jan
103
103
General gold 5.5
105
Keok & Des M 1st 58
11123
4 Dec..08
/
1141
i 191.1,
0
4:
194
Terminal let'gold 5s 19
Ohio it u& N 0 See 111 Cent
Regis 55,000 each 1943 N4-5
Chic St L & Pitts bee Penn Co
101% 10218
102
102
Sait
1013
09
A-0
4130%
/
Feb.
AIM
1291
13012
Allot NJ 1sLg 68 1910
130
Chic St P Ai & 0 con 6s 19311 J.
:01 102
102 Jan '09
4
/
1021
93 Dec'03
Wilk & Ea 1st gu g5s 11/42 J
9318
4/4 193e J
/
Cons Os reduced to 31
1091
41121
/
Yob'09
1125
4
/
112
.J
J
"v&
8
41295
/
(291
Ind
1291
4
/
1:10
lat
J1111
con
914
g
gu
1926
'
09
Ch St P & Minn lstg tie 11118 VI•N
Erie & Pitts see Penn Co
129% Mar'04
12612
Nor Wisconsin 1st 6s. 193t. J
4 Jan'Or
/
1121
Evans & T it 1st cons 68.1921 I-.1 •111
4 117 118 Dec'08
/
St do 8 City 1st g 6s 1919 A •0 1161
4 J.Iy'08
1
102/
A-0 102
,Dec'08
1st general gold 5.2
112,
Chic& West Intl gen g Os ql932 +II
114 A pr'UO
4 ••1it 96; 98
/
911
Alt *Vernon 1st gold Os 194
574 Sale 97
2 A-0 108
92:3
1952 •J
Consol 50-year 4s
95
Suit Co Branch let g 56 1930 A-0 9634
Chic & W .Ilich. .see Pere Mare
i'argo & So b'ee Oh M. & St 1'
Choc U & Gulf See C It I &
L. lint & Pere 31 See Pere Mar
113 Oct.'00
4s 1937 .1-J
/
Oin 11 & 1) 20 gold 41
Fla C& Penm See sea Air Line
95
95
95 Jan 'let
4
/
(./in D & 1 litt gu g 5s 1941 N.:: 1011
105
Fort St U
Co 1st g 41
48.1941 J.J
/
N
gu 4s g.'211
C Find 64 Ft W
11714
1153,117',
Ft W & Den C lat g 6s
'70 .Aug'08
72
1921 J -0 1103,117 117
Cin 1 & %V 1st eft g 46.1953 .1-.1
88
88
86
ts8
86
J
961
-J
W
4Jan
/
Ft
&
'09
Rio
bir
1st
g
4s
US
1928
J
-31
19
&
Dec
W 1st g 5s
Ind
lal
&
A
S
'02
See So Paz Co
4Dec
/
1071
1935 J -J
Dit guar gold 5s
Or
96 Sep
Xiii H & IL of 1882 181.68.1913 A-0 971
4 99
/
rite
C
CISLLSoC
Georgia & Ala See sea A Line
Oin &
SeeUCCSt
Ga Car & Nor bee Sea A Line
Clearfield & Mali See B it &
983., 25 97% 9818 Georgia Pacific See So Hy
9c/14
Clev Cin C & st L gen g 4s 1995 •0 98.4 Sale
it 951
Gila V G 'alb Nor See So Pao Co
4 96
/
95
95.•
9534
Cairo Div let gold 48-.1935 J -J
Gouv & Uswegat See N Y Cent
9314 9512 US', Oct'Or
Cin W &
Div let g48.11111i J • J
97%
Grand Rap& Intl see Penn RR
1
95',
96
96
4
1153
2
971
St L Div 1st col tr 4a--IN41
4,
Gray's Pt Term See St L 8 W
Si Oct '07
Registered
4
/
99% 744 9711 991
99 sale 97.4
Nor-C B & Qcoll tr 4s 1921 J J
92 Feb:08
136
Spr & Col Div 1st g 4s 1944,
98 Sate
7..L 98
9.2
1/8
ktegistereddr
1521
'06
Sep
115
98
Div
W W Val
lat g 4s 194t) J -J
Ity
Clues
See
Greenbrier
U
&
'04
Jan
105
N 105
0 1 St L& C column 9s 1929
96 Oct'09
100
......
Gulf & S I istret& t 5s 61952 J -J
1)912 Nov.098'4
1st gold 4s
/4193i. tz-1,
Li an & St Jo See C B
Q
97 Oct '08
'J748
k1133.•
Iteg)stered
A
11
&e'4
NH&
Y
ousatome
Dee'08
110
, J.J 108½
Cm & CI eon lst g 50..11.12;
.07.4 Felf(e)
10434 108
[lock Val let.cense'g 412s DYJV J -J 108
1144 Sep 'US
1914 .1.1) 106
000&ioonsol7s
1001
48/21)
/
Registered
1999 J -J
1914 J -I)
Comm!sink fund 7s
984
Feb
lit
4
/
981
A-0
4 981
/
981
4
/
H
&
Col
1st
V
4a
ext g
1946
130 Nov.08
General consul gold 68 1934 .1 -J 128½
994 ireb'e9
4
/
991
9'i
094
Col & Vol 1st ex 4s
1953 F.A
1984 J -J
Registered
&
E
'Joust
Tex
W
So
See
Pae
......
94,
94 •PLY 'Ob
Intl 131. & W 1st pre( 4s 11.141 A-0
/toilet &
Cen See So Pac Co
J
0 Ind & W 1st pf 5s.....,(1938
I 103341033,
103% 103%
94% I Meow Central 1st g 4s 1951 J -J
93
94% 94 Feb'09
Peo & Eaat 1st con 4s 1949 A •0 94
107% Ap:
I Registered
56
11/51 J -J
42
:= 40
4U
40
45
199h .pi
Income la
1003, 100E
1001910113
1955 M-N
1st ref 4s(when iss)
Clev & Marlette See Penn 111
9:13, Dec'08
1st gotta 31
48
/
1951 4.4
Clev & Pitts See Penn Co
01.4 Aug lib
J -J
87
85% 225 80
Registered
4 Sale 83
/
851
194. J J
Col Midland 1st g 48
'09
Jan
l34'4 Li434
943,
95% 4)7 971
4 JO
/
Extended Ist g 31
4a
/
951 A.0
195
98% Sado 98:18
Ooloratt)& Sou let g 4a 1921 F A
70 Gut
,loot
1st gold 3s sterling
11"9521 A1035 td-N 11/0 bale 9912 100 434 903
Relund & ext 41.2s
a
1001
4
C1004
1001
4
/
10014
AA)
100',
Coll
Trust gold 4s
Coluna & u reenv Se4 So ity
May'o.
......
Regiatereti
1952 A-0
Col & Hock Val See Heck ‘s'aa
LOU 1004
2
.1
4
/
10u
1001
4
/
1
1001
,
)4-1
L
0
N
&
Tex
4s
gottl
_11)63
Col & Tot See Hock Val
97 May'07
141-1.4
Registered
Col Colin tib Term bed N cfb W
102% Jan'
Cairo Bridge gold 4s
07
3 1.0 99.8
11911
Conn & Pas Rave 1st g 4a.11/43 A.1)
92
90
91
91 Feb.02
92
•4
J
95
05
8
'00
4
1
/
g3
Jan
LouttivDiv&Term
95
1953
1932 J J
Cuba RR let 60-yr 5 g
123 may'ut•
Middle Div reg 58
1921 1F-A '105
ak & (it tio bel0 M.& St P
4 A.or
/
4 781
/
511
711
Omaha Div 1st g 38
1951 r•A
atlas & Wee° See M K &
79
711 Dee'u8
St Louis inv&term g3&1961 J • J
Del Lack & Western774
Registered
1144 114%
1951 J
11414 Feb'09
Morrie & Essex 1st 7s 1914 at-Al 11414
Dec'08
J-J
1)0',
4
/
.2
4
1
/
3
1171
Feb'09
14old
4
/
117
1171
4
119%1173
Is
J
guar
1915
consoi
lat
101.4 11et '111,
4
/
Registered
127 .) ite.05
"1 J J
1951
1
1911 J•1) 1151
Registered
2;ov'Ut)
Spring Div lat g 312s 11151 J -J
94
964 93% Feb u9
209, J -D
1st ref gu g 312s
4
/
41001
/
1001
tX)is Jan '01.Western Lines 1st g 43 1951 ir•A
120', 1204 Feb.011
N V Lmok & W lat Os 1921 J -J
.21 121
121
-D
J
121
Itelhev
& Car 1st 43s
1923
1923 F• A 1124 11212 112 Fett'u
Construction 5s
97 Sep
Curb & Shaw Lit g 4s 11132 M-8
100',Feb.09
192:. :ii-N 10t)
Term & Improve 48
4 1191
/
1191
4
/
13 Feb'09
Chte St L & 0 g 66 1951 J-1)
93 Ni
102 k,ou
48 20(Je F-A
1
Warren 1st ref gu g 3/
119 119
119 FelPte)
1951 .1.1)
4 Apr'08
/
1211
Del .41 llud let Pa Div 73 1917 g•S 1214
110
ut1
UU
eigui i
ito
lurse
te
1951 .1)
141) Aug'01
1.17 .(1.9 119½
Rewistered
100 Mar'08
,
tit' 101 104,
Aletnph Div let g4s 1951 1.0
1043 M./1 I 17 sate 1014 Jul
1st &ref 4s
98 J'ly'or
St L Sou 1st gu g 4s. 1931 X1-5
37 10034 102e
01).. IOU% 101
191u J-1)
10-yr cony deb 4s
Bi
Ind
L
St
'08
(.4t4
&
See
West
Dec
(IC
......
104
1U4
102',
1_f
1st hen equip g 4/
4.8
1
J.
96
J
98
98 Feb.09
99
t
n
i
l
4
.
1
g
1st
la
05
4s
19tiu
99's
Feb.
98
98
118
194t. A-0
AIL)& Sus cony 312a
110 110
110
110 Jan 'uv
int& Great Nor 1st g 66-1919
120 Nov'ob
11:0 8
liens & barateim 1st 70 1921
M-2 55
83 Nov'ut
5s
gold
2d
1909
Del ltiv Ili( Bridge bee Pa lIlt
3t./
40
60 Oct'O
4
/
3d gold 4s
981
1921 S1-5
09
117 Feb'01/
97
Dem/ & It Lir 1st con g 48 198, J •J
4 1114 1114
/
1 Wil1
41111
/
4
/
4 1U6
/
1031
Iowa Central 1st gold 58 1938 J-1) 110 1111
4 100 1034, Fe01..P.
/
1113i J -J 1031
411
1
Consul gold 4/
M'S
2301.2 Sale 7934
'4 23 79% 82
4
/
1021
Feb'ula
48
Ciold
101%
1951
103
102',
4
/
1021
Improvement frOili 53 1 92:• -1
RR
See Erie
4
/
941
1.13.8
92% 9434 Jellerson
914 Sale
1953 1F-A
1st & relunding Os
L' al A & G It See bS&Ma
1)8
Rio ifl Juno 1st gu g 58 11131: J -0 104%
& iii1C11 See Tot As 0
70 Dee 't)4)
1941, J.J
Rio gr So 1st gold 4s
KliFtS&M BeeStL&SF
83 Mar'08
1134h J J
Guariniteed
97% It 95 1004 8.C84.31R&II SeeStL&SF
97.4
98
1931 J -J
Rio Ur Weat 1st g 4s
LI 83
87
56
Kan C & Pacific .See M K & T
55
55
Aige and col trust 48A 11)45 A 0 53
72.4 7314
75
4
/
741
Kan City Sou let gold 3s 11/00 A-0 74%, 75
117 Jan'u2
95
A-0
U tan t/eut Ist gu g 48
63 Oct
Registered
195u
Des Mot tt ,Itt 1) !See 61 tt, st1.
Sep
'04
bee
Kentucky
N
Cent
&
L
110
Des Mot Un ity 1st g 58_11)17
Jan '01)
Keok & Dee Mo t/.eeCltL&P
95
95
Det & Mack 1st lien g 48.11/115 J •D 92 101)
90
Knoxville & Ullio See 8o Ry
81/
89 Jan'05
1/0
1:11.N. -0 88
Gold 4s
112%11314
I ake Erie & W 1st g 35_11)37 J -J 114 115% 1134 Feb.(11)
Detroit Southern4 107's
/
4011
10?.,, Jan '01:
80
It
82
EA 21 geld 5s
82
1941 J J 1137',
79
82
1941
4.m
g
1st
Div
Sou
Ohio
Feb'U:
41144
/
1121
4
114
4
/
1131
1133,
A-0
2
114
116
114
g
gu
North
114
1st
Ohio
58_1945
114
Sale
4-11137 A-0
1
Dui & Iron Range 1et5/
L sho do Mich S bee N Y Cent
10019 Marin1937 A-0
Registered
1061
4108
/
Leh Val N I lat gu g.4 12a 1940 J • J 107% Sale 10'7% 107%
11110 J -J
20 Os
iU8 Oct'05
Coda g
3 J -1
40
1940
200
Registered
Dui Short Line .See Nor Pao
974 Jan '0.
97
4-43.
1 , Lehigh
Lehigh Val
4
/
1111
4 Feb.09
/
1101
4 110.
/
1101
DM So Shore & AU g 5s 1113i J •J
1164 11.7 ,
117 Feb'Ut)
Len V Ter Ry 1st gu g 6a 1941 A-0 117 is
M
10e/
I. est ot Minn bee St•P M
4(.,0t
1
lteglatere0
1941 A-0 1154
LAast'.1.'en V&& (la See So ity
107 19J'Is'v.
113.4
Leh V Coal Co 1st gu g 64 1931 1.1
106 May'08
Elgin J ol & Last let g 53.1941
1136.
97 May've
Leh & N Y lat guar g4s 1945
Elm Cert. de No See Leh& N
4 May'Ob
/
100
Registered
991
1945 11-5
1947
Erie 1st ex t Id 46
1134 Jan.Ue
102
A•U
Apr'08
&
C
El
.106
1st
N
pits
1914
104'e
1919
eat
2tiext got
10514Jan'00
4
/
1011
Gold guar 5s
4 104',
/
1041
104 12 1,'eb.01
1914 A•
1032
1.112:a
3d ext gold 4128
LCiiJekLUdli bee Cent ot N J
109
IOU's Now.08
192h
4th ext gold 543
b
011
117
Wilkes
Jan
&
•
1)7
CeiltotN
93
ill
See
Leh
J
1928
5th ext. gold 48..
4
/
4 12478 Leroy & Caney V&A bee Alo P
/
1231
124 a23% 1231
1st consol gold 7s
Long Deck Bee Erie
122 121 Oct 'Ur
0
20
11)2
1st consul g Lund :78
110 111
112 11378 111 Jan'09
lb
4 Long lat'd-lst con g5s.h.1931
/
901
85
88
12
87
58
89
Erie 1st con g 4s prior..1119u
97%
1st consul gold 4a
19 Jan'08
51931
Registered
11111t,
963, 964
99
Uti
96.8 Jae 'in
21, 70',, 47:
4
/
General go 4.8
721
1936
71
73 Sale
1st consul gen lieu g 48..191.1u
.001
4 11nPli
/
It/t)/2 Feb.01)
Ferry geld 4128
4 Feb.07
/
861
1922
Registered
199h
'ut>
vet
90
J
1.1104
80½
4s
4
/
Gold
841
1932
4
/
leeb
4
/
831
841
79
Penn colt Lr g 4s
11151
4 Deo.ut
/
941
4 98
/
951
......
Unified gold 48
1949 .8-8
7334 Yen'0:
4
/
4 771
/
711
72 '13
1953
50-year cony 4, A
104 12 Dee.Or
Debenture goIti 55
1934 J-D
638.
4 69
/
021
4 Sale (121,,,
/
621
tio
Series
1 974 99
4
/
971
4
974
1941) rA.S
Guar ref gold 4s.
,
116% Ill Aug.°
Bull N V& Erie 1st 7s 191t.
lul
131flyn tto Mont 1st g 6a 19
11
91
1164 Feb.0).
1154
111.3,117
Chic a11 Erie 1st weld 68 1118,.
100.8
5
a&
Decor
101%
50
let
'or
Dee
12/
11U
Cloy 414 Atalion Val g 58 1938
1.1.04Nov'00
N I I3&Mlilstcong5s 1935 A.0 1044
.21 12/
4129 127 Jim '09
/
1281
Long Dock consol g 68_1933
105 A pr'u
142i si-5 98
It B lat g bs
N Y
118 Sep 'Oil
Coal & RR 1st cur gu 68.11122
109 Is ov'Uu
Nor SIiJI 1st eon g guba 01932 ‘14 102 14
106
106
100 Feb'uts
1964
Dock & Imp 1st cur Os 1912
141)
it>
99 Jan '05
99
Louisiana & Ark 1st g Os.1927 3t-S
108 110 100 tecU'Ors
o Green L wu 5e4 11149
N
ii*C4 903
'
D
,ttir(C111.1.A5 ho(tra BON 1)89---uonutieeti in.-iext cage.
Gas and Electric Light
4411.8 and Electric Light
10418 4 1023, 104 is
4 Sale 104
/
Lae Gas LotSt L let g5a.e1919 Q-F 1041
Atlanta G L Co lat g Os...1947 J -JD
4 1014
/
1001
4 Feb.01)
/
1934 A-0 101 101% 1001
Ref and eat let g 5s
103 lot;',
tias 1st eou g 66.11145 til-N 11-6'110 10618 Feb.09
Bkiyu
4 93
/
911
Milwaukee lies L 1st 4s 1927
1 401.1 M S 12.18 Sale 122
95 (Jet
123
'/t 119 124
Cony 0011011 68
4 11)14
/
4 3. 1(101
1
1.01 /
NIGEL 11 & P g 58 1948 -1) 101 Sale 101
63
60
60 Feb 't)1)
1941 A.() 60
u3
Butiatio Gas i8t g 55
.14 8314 85
85
Purchase money g 45 194.9 F-A
85 hale 802
11/09 J -J
195 Itee 4)8
Cons°,ti as couv deb 6s
100 100%
41UL 1003, Tan '09
/
.1007, Ed El 111 1st cony g 5s 11110 NI- .8 1001
1004
1924 .4 101 1011
4 100%Jan'09
/
Detroit City Gas g be
112 Dee'Ur
19113 J J 11.1
1st consul gold Us
1.15.88e1)'yr
Del Lisa Co con 1st g 5s 1918 F A
95 Dec.tir
1/2
NY&Q El L&P 1st con g 58193u F-A
Nillulil boeN IticfsELficiol'
1.00 Dec.0N Y & !Lich Gas 1st g 56.1921
06 Alitr'08
99
NqtI 1...A1 Y 1st con g 5s 11/32 '14-S
Noe'05
g
104%
con
E
14-S
&
58.1949
Past.
&
Pat
..
'01
1949
Oct
5s
4
/
611
1-1)
e
Co
Berg
ties& Elea
1111 12114
12t14 Fel).0.)
Peo Gas 4, C 1st cou g 68 1941 A-(.) 1201:8
81
84
8476 84 Jan '09
82
Gen Electric deb g 191/ 1943 1f A
198
1 .02%1034
103
1947 A'S 10278 .
Refunding gold Us
11 136 140
13.1
1917 J
13819140 136
10.yr g deb 56
1(4
103
411/
1937
Feb.
itt4
gee
gu
1st
eke
11141
J
•
J
4
/
CliG.L&
'00
Dee
F
1915
4
1073
-A
L Uo Ist g bs
Lir Rap
11/1.8 103
1st gug5s.'36 J -0 1011
4 103 101% 102
/
Con G Coot
102 J'ly'06
liudson Co Gas let g 5s 11149 tel-N 104
101 Nov.08
Mu Fuel etas 1st gu g 58.1947 It-fe 101
91) Dee'06
Kan City(ldo)(Iasiet g 561922 A-0
/yTacuse Lighting 1st g 54.'31 I-I) 1/7
,
193`. A-0
104
Kings Co El L & g 54
110 M 4).05
Trauma G & All lstgSs,.19411 11-a
1.99I A-0 114 1161
100 100
4 IOU Jae'0)
/
Purettase money its
103 J'Iv'Ur
Light'g w 58.1960 J -D
Westchester
.1
•
I
4s11131
'05
Sep
88
lit
cone
let
Like
II
Ed
Due
g Due &se jUbaau .alte •
Oa%
ii,41CK
•
4.as
Pao
is
...II
OW.
-4;
,L444..
•Al o once teriaayi latest tnd and aimed tius wimsg.a Da* Jo& 8,S4. 41.;
New York Bond Record-Continued-Page 8
550
ISO
N.Y. STOCK EXCH A NGE
Witica ENDING FEB 26
-
4
Price
Friday
Feb 28
Week's
Range or
Last Sale
un
BOND:4
13..?..
N. Y. STOCK EXCHANGE t: t,
WEEK. ENDING FEB 26
:
-1 0..
Range
Since
January 1
[VoL. Lxxxvni.
Price
IVeeles
Fridtru
Feb ai
Range or
Last Sale
Range
'n
t.l,n
Nina
,%-", January 1
Rid
Ask Lou' Hip No Low Hit,h N Y Cent
But
Ask Low
& 11 R-(Continued
iligh No Low .111gh
Loulsv & Na.shv gen g 68 1930 J-D
116% 11714 Feb'09
1174 117%
Gonv& Oswelstgn g 5s 1942 J-D
Gold 58
1937 M-N 116 11634 110 Feb'01)
110 110
Moh & Mal 1st gu g 43..1991 m•S
9043
98
Mar'08
Unified gold 48
1940 J-J 102 Sale 102
102
26 1004 1024
NJ Juno et gu 1st 4s...1980 F-A " 9419
105 Oct'02
1940 J.J
Registered
9932
101% Ply'06
N Y & Harlem g 312s. .2001 M-N
95
9019 Oet'Oe
Sink fund gold Os
1910 A-0 101
105 J'ne'08
N Y & North 1st g 53_1927 A-0 110
107% Aug'08
1931 M-N 110 112 1094 Feb'09
Coll trust gold 158
10834 10934
N Y & Pa lat conga g4s 1993 A-0 95
100 Sep '08
5-20-yr col tr deed g 48 1923 A-0 100 1004 101)
100
97 1004
Nor & Mont 1st gu g 58.1916 A-0
1911, J -D 110
E H & Nash let g 6s
111 Jan'00
111 ill
Pine Creek reg guar 63.1932 3-0 127 13119 13119 Jan'09
10738
1314 131%
L Cin & Lox gold 448-1931
10734 Feb'09
107% 10734
It W&0con latext5s.A1922 A-0 11034 112 110% Feb'09
11038 11038
N 0& M 1st gold 68.-1930 J-..1 122
122 Oct'08
......
Oswe & R 2d gag 5e...e1915 F-A 19019
105 Jan 'Os
1930 J -J 121)
N 0& M 2:1 gold 6a
121) Jan 'Us)
120 120
R Wee OTE 1st gug 58.1918 M-Ii
Pensacola Div gold 03-1920 M-8
10714 Aug'06
Rutland 1st con g 440..1941 J -.1
103 Sep 'Oh
St L Div 1st gold Os
1921 M.S 114
...
117 May'07
91
Og&LChamlst gu 4s g1948 J -J
93 Deo'08
....
.
.
1980 M.S 70
2d gold 38
62% Aug'07
75
Rut-Canad
9034 Jan '01) .. 90% 9034
1st
gu
g
48.1949
J
-J
.
Atl Knox & Cin div 43 1955 M-N
1313
96', 96
9019 5/ 95
961
4
i
St
Law
15
dA
Adir
lat g 53 1996 J.- J
Feb'09
115 116
AU Knox ea Nor 1st g bel9e0 3-0 113%110 110 Sly'06
2d gold Os
135 125 Ifeb'Ut3 .
1996 A.0
!lender 13dge 1st8 g 68.1931 M-S
110 Jan '09
110 110
Utica & Blk NW gu g43 1021 J -J 10112
1034 Dec 108
Kentucky Cent gold 4a 1987 J -J
98% 99
9834 Feb'01)
96
9834
Lake Shore gold 3les
1907 J1) 05199,410 9514
954 11 [44', 85
L&N & M & Ai lstg 4%81945 M-S 104%
103 Deo'08
Registered
J -I) 93% 9414 0412 Feb'03
933 94%
1997
L& N-South M Joint 48.1951 J-J
9014 911
/
4 914
91', 3 88 914
1o28 M-S 117 Sale 014
Debenture g 43
97
lb 95
07
N Fla & 8 1st gu g 5s 1937 F.A 11314 115% 113 Dee'08
9534 Sale 8532 9534 82 95 Iwo
25-year g 4s
1931 M-N
N& Bdgegeu gu g 4451945 J J 105
DM%
KaA&GR1stguo
J-J
5s.1938
Pens & AtI 1st gu g 68-1921 .5"-A 108%
109 Jan '014
109 109
109 Oct'07
Mahon CI RR 1st 58..1934 J-J,
,1 1
_,
3'2
8 & N Ala con gu g 58-11130 F-A
110 1154 Feb'08
11212115',
Pitts & L Erie 21 g 5s.a1928 A-0
100 Alar08
'
1"4
1114
L & Jett Bilge Co gu g 48-11345 M-S
9119 Jan'08
125
130
Jan '03 .
Pitts
MoK
&
Y
1st
gu
68
1932
J-J
01431.
LNA&Ch Bee
2d guar 68
1934 J- J 12619
tiI ahon Coal SeeLS&
MoKees& B V 1st g 63 1018 J - J '110
0-1-anhattan Ryoonsol4s 1990 A-0 994
100
100
98 100
101 .Feb 09
Much Cent 1st consol 68 1909 M-S 994
101 101
Registered
1990 A•0 97
104 Apr'05
1931 M.s lie%
1144 Oct'08
58
Stmpd tax exempt 1990 A-0 90% Sale 9934
9934 33 99/
1
4100/
1
4
119 J'ne'116
Registered
1931 1-M,,,,.,
Afoli'pt & 13 V See N I Cent
10034 Jan '07 ....
48
1940 -J .."4
84 Sale, 84
&lex Cent cons g 48 trust reots
84 .25 82
85
106 La Nov'llu ....
Registered
1940 .1-.1
1st cons inc g 3s trust recta
214 234 23 Feb'09
23
26
3 L & S 1st g 34s
90 _Pue.ub ....
31-S
1951
20
2d eons inc g 38 trust recta..
21
214 Feb'09
21%
92%
let
93
M-N
1)14 Feb'00 .... 1114 02
24%
1952
g319s
blex Internet let con g 43.1977
9019.Ply'01
......
Bat C & Stur 1st gu g 33 1981) J -D
Stamped guaranteed....11)77 111•S
80 Feb'08
101% Feb'01) .... 10019 10139
N Y Chic& St L 1st g4s 1937 A-0 10119
Alex _North 1st gold 6s.. .1911) .1 •
99 105 May'00
100 sop '08
Registered
1937 A-0
Mich Cent Nes N Y Cola
Debentures 4s
93% 2 91% 934
1931 M.N 934 95', 938s
Mid 01 N J Bee Erie
West
1034 2, 193 10412
10319
Shore
Sale
10319
J-J
1st
4s
2361
g
-u
BSCh1G&NW
&
nil L 8 & W
Registered
102% 10219 2U 10119103
2361 J-J *102%
M11& .North See Oh & St F
f. Y & Greenw Lake b'ee Erie
Minn & St L 1st gold 75 1927 3.D 1344
133% Feb'09
133%13312 I Y & liar Bee N Y 0& 1-1uu
Iowa Ex 1st gold 7s
1909 J-D
101 Deo'08
......
I Y Lack & W See D 1,& W
Paola() Ex 1st gold 68_1921 A-0 *107
118 Jan'07
I Y L It: & W Beeline
South West Ex let g 78 1910 J D *10119104 1134 Mar'05
sr Y (15 Long Br See Cent NJ
1st oonsol gold Os
1934
1114
1114 11119
109 111 '4 1 I N It & H-Cony 68 of194e
J -J 13419 Sale 13319 1341
/
4 31 13311 135%
1st and refund gold 48 19411 M.S
854 85%
86
844 87')
Cony deben 3,28
1956 J -J
98 Sale 9719
19 97'100',
1)8
Des Al & Ft D
seu
.'35 J.J
97 Apr'06
Housatonic R con g 53 1937 Al's .1_1,8'4
1184 Deo'08
Minn & St L gtt See.B OB&
45.. N
.N 11 85 Derby con cy 56 1918 M•N lu,
09
ti StP & S8 M con g 4int gu'68 J -J
994 100 Feb'01
9912 100
I Y & North See .N Y 0& .F1
S8151 ‘11: A 1st g 4Int gu 1920 J -J
102 Vue'07
I Y 0& W ref lat g 43..g1992 M-S 0819
9819 1U 984 9912
9819
Minutia See St P
&AI
Regis 65,000 only
51-5
10119 rne'06
Ito Kan & Tex 1st g 48-1990 J-D 09 Bale 98%
99
41 9819100', I Y ea Put Bee .N Y 0&g1992
li
2d gold 48
87
g1990 F-A
88
87% Feb'09
4
883
ba
S'i
.1
1(
&
N B Bee Long Island
1st ext gold 58
1944 M-N
108; 1094 Feb'01)
1044 109% i Y 8 & W Beeline
1st & refund 48
2004 ALS 86% Sale 864
87 4111 83%
02 Salt 91%
Gen s f 448
1936 J-J
924 127 8014 87% .1 Y Tex & AI See 8o Pao Co
93', ior & South 1st gbs
99123'ne'Oe
1941 M-N 101
St L Div 1st ref g 4s
2001 A-0 • 834
86 Dec'08
4orf & Weat gen g (3a
1931 M-N 12734 Sale 11734 12734 5 127 4128
Dal & Wa 1st ga g 5s 1940 M-N 111
103 Oct'08
Improvem't ea ext g 68 1934 F-A
'120 12114 Dec'08
93%
Kan C & Pao 1st g 43-1990 F-A
95 Dee'08
New River 1st g (3s
1932 A-0 1204 1284 128,2 Feb•08 .... 1284128%
Ado K & It let gu g 5s 1942 A.0 114 115 1144 Feb'01)
113 114%
N & W By 1st con g 48 1996 A.0
99 Feb'00 ..... 97
99
9919
K & Ok let ten be
1942 M-N 111 Sale 111
11134 it; 108 112
Registered
91 Sep '1./I
11)96 A-0
10834 110 110 Feb'09
M. K4,TolT lstgug58 1941
106 110
Div'l 1st l& gen g4s 1944 J-J
937sSele 9319
„
9„
4„ ,,
Sher Sh & So 1st gu g 58 1943 J •D 1084
88 93
1004J'ne'Ut3
„,4 95,
111-25
year
cony
43.-1932
3-1)
9639 eel., 1)5
Tex& Okla lat gn g 65 1943 M-S 109 111% 1114 F431V 014
,,u'r'b 114 00
'
3 08'
2
108 11138
Pocali 0& C joint 48 1941 J-13 9234 93
923 Fou'09 .... BA 1.12a4
Ito Pacific 1st con g 68 ..1920 11-N 115% Sale 1154 115',
113',1j
C C& T 1st gu g 58
1094 e'eu'ln)
1922 J -J 10334
102:A Sale 1024 102',
Trust gold 53 stamped a1917
113012 1024
Solo
V
&
N
E
1st
98
98
97
us':
gu
M-N
g
1989
37
4s
1394 934
Registered
a1917 it.8
10419 Feb'07
forth Illinois See Cht & N W
1st coil gold 55
1920 F-A 1024 Sale 102
, 11 101 1034 forth
1021
Ohio Bee L Erie & W
40-year gold loan 4s
1945 M-S 814 Sale 81.4
8419 143 78% 85% for
Pao-Prtor
10312
1033
4
Sale
1034
82
hen
J
g
48 1997 (4
10238 104
94%
3d 78 extd at 4%
1938 M-N
95 Mar'Ob
Registered
25 101 103
1997 4-3 1024 Sale 10219 103
93
Cent Br Ity 1st gu g 48 1919 11 -A
95 Feb'09
95
b9
05
General lien gold 30....a2047 4-F 7478 Sale 7434
76
5i '73
75
Cen Branch U Platg 46 1948i -1)
91 Feb'09
133
131
91
74i
Feb'09
Registered
....
74 '74
a2047 4-F
110 Mar'05
Leroy&()VA List g 56 1926 J -J *103
96
St Paul-Dul Div g 40-.1990 .1-D
96
1 90
96
Pao It of Mo let ex g 48.1938 le-A
9914 Feti'08
99%101
Dal Short L 1st gu 58..1910 M-S
2d extended gold 5s 1939 -J 111
11212 Feb'09
-.
112', 112,
, C 13& Q cell tr 4s S'es
Gt Not
StL Ir M& Sgen con g 531931 A-0 111411134 111% Fel.'09
11114112
St P & N P gen g(38....1923 F-A 121
121 Feb'09 .... 12012 111
110 Oct'08
' Gen con stamp gtd g 531931 A.0
Feb'Uts
....
Registered
12018
120191204
1104
4•F
certitio'8..1923
8834 Sale 138%
Unified & ref gold 40 19214 J J
89
22 86 89
St Paul & Dal let 5s....1931 h -A 1114
1174 J'IY'
07
Biv&GDivlstg4s 1933 M-N
91
90% 91
91
II 881
/
4 Ill
2:1 55
1917 A-0 1044
104
2 104. 104.
104
10719 Apr'06
Verdi V I & W 1st g 58 1920 M-8
99 Feb'01) .... 99
99
1st(Ansel gold 4s
99
1968 J-D
1)8 Dec'U6
Mob J & K C 1st cons g 58 1953 J-3
Wash Cent let g4a
92 12 J au '01). .... 9214 9219
1)319 95
1948 4-M
1244 1244, 1 1194125
Slob & Ohio new gold 63 1927 J -D .121
Ior
111)3
Pao
4101)'09
Ter
....
Co
1163
-J
4
1153
J
let
4
114
1933
g
68
1173
8 11834 118 Feb'09
let extension gold 68..h1927 Q-J
117 118
for By Cal See So Pao
1938 M-S 88
General gold 4s
88 Feb'09
446 19 88
for Wm) Nee 0St P M & 0
11212 112% 8 [121911219
Montgom Div 1st g 58-1947 F-A 112%
(or Oa Mont Bea N Y Cent
75 May'0
St L & Cairo coil g 48../11936
Ind & W See C 0 C & St L
1931
Guaranteed g 48
100 101 Nov'04
io RP?' RR See Halt &(4
Southern
See
4s
coil
0
&
M
ire
& Cal See 80eao uo
Mohawk & Mal SeeN YC&li
ire Short Line Bee tin Plea
Monougahela BAN' dee 13 &
(awego & Rome See N Y 0
Mont Cent Bee St P &
)C It & St 1* See (.1& N W
Slorgan's La & T See P Co
Liao Coast Co let g 58.-1946 3-1) 110 1101,
/
4110
,110 Feb'01' .... 1091
Morris & Essex See Del L&
1. ac 01 Mialsouri See Alo Pao
Mash Chat & St L1E4713 1913 J J 11134 1121
/
4 1124jan
11241124 'sun RR 1st real eat g4s-1923 M-N 101
105 Jan'09 .... 105 105
102s A-0 113%114 1134 Feb'09
IA 1st consol gold 15s
11341131
Couaol gold Se
/
19114 M-S 1094
4
1.09 12.1all'09 . .. 1004 109,La
Jasper Branch 1st g 63 1023 J -J
1164 Alay'07
Consul gold 4s
10319 1013 Oct'08
1943 WI-S
5105151 W & Al 1st 6s191 J -J
11734 Mar'05
Consol gold 48
1948 MN 1044 Sale 1014 10419 203 1044 10434
T &1-' Branch let .. .1917 J -J
'04
113
Convertible g 343
13738 sale 9712 98 130 98
991
1912 m.1.1
/
4
Nash elor & 81101 See
Os.
L& N
9519 139 9434 9514
Couvertible g 31.0
1915 3-13 9638 Sale 95
0 1926 J.J 101
Nat of Mex prior lien 44
102 Feb'09
102 102
Alleg Vat gee gu g 48_1942 M-8 100
911 J'ne'l37
1st consol 4s
1951 A-0 824 83
'
83% Feb'01)
80 8334
DR it Res Bgelat gu 48g.'31.1 e-A
1334
New li&D b'ee.N
Fiala Bal ea W 1st g 48 1943 51-1`i
1074 Oct '01., .... ...... ....,...
Y Cent
N J Juno RR See
Sod Bay & So let g 58 1924 J - J * 954
102 Jan'03
Now & Chu Edge See Lou&
11012 Hee '04 .... ...........
U
N
J
RR
&
103%
M.
Can
S
gen
1044
48
&
Bkln
Man
Bch.
b'ee L I
N
'enn Co-eluar let g 448 1921 J -J 105 44
1.0t1 Feb'09 .... 104 106
Riv g 34
0 1997 J.. 9234 Sale 9234
N Y Cent&
934 16 92% 94 4
103% Ply'07
Registered
1921 J -J
Registered
1997 J -J
924 Feb'09
113
924 9334
Guar
9012 J'ne'06
34s
90
coil
il-S
trust
1937
reg
Deben g 4s
1934 M-N
94 4 Sale 944
05
16 83% 915¼
91 new08
Guar 31-ascoll tr ser 13-11341 F-A S914 91
Lake Shore collg 34a 1998 F -A 8412 sate 844
We 21 82% 8534
Tr Co Genii's gu g 348 1910 51-14 97
V% 9614 Feb'01: .... 90i, 97
Registered
1998 F-A 8432 84% 8412 814 4 83
844,
Gu 348 tr etre0
8914 Jeeb'01, ..., 89i„ bo,
1942 J -D 8919
blieh Cent ooll g 340...J1Mb F-A
8432 8434 Feb'09
94
.
4 84.4
Gu 348 tr etre D
9314 90% mar'Ut; .... ...........
1944 J -D
Registered
199b F -A
8212.Nov'Ob
9634 93338.1febq0u .... 913% 0638
Guar 15-25 *year g 48
A.0
1931
Beech Creek let gug48 193b J-J
994
99 Oct'08
CI & Mar 1st gu g 4128 1935 M-N
110 J1411'05
1184
Registered
1936 J.J
102 Mar'04
CI do P gen icu g 4128ser A '4'2 J -J 110%
110.14 Jan'09 .... 11034 11034
2d gu gold 55
193b J -J *1024
110%
Series
B
A-0
1942
Beech Cr Est 1st g 34051951 A-0
Series°340
9812 Dec'01 •
1)319
11148 M-N
Cart & Ad 1st gu g 48-1981 -0
Simrlsaa II 'AL,.
10/ill ticti
931Q
90 lidarOb
111SCELL kNE011S BONDS-Continued on Next Page
••••
J
Coal anti Iron
Telegraph and Telephone
Col F & 1 Co gen a f g 53..1943 F-A
9878 1004 Jan'09
96 1004 Am Telep & Tel coil tr 4s 1929 J.J * 93%
9234 Feb'09
91% 92%
Convertible deb g 53....1911
85
87le Feb'09 ••
874 874
Convertible 48.
1936 M.S 9434 dale 9334
95 517 924 9538
Col Fuel Co gee gold 63.1919 M-N 1001
/
4
10712 Oct'04
Instalment certificates ....
92% Jan'09
Gr Riv Coal et; C 1st g 681919 A-0
923
8 94
102% Apr'06
Mich. State Telep. 1st 5s.1921 F-A
90 100 100 Feb'09
(Meant Bit Coal 1st814s...1940 J -J
994100
95 Apr'02
West Union col tr cur 58.1938 J.J
9812 Sale 98
9812 22 98 102
ColIndu let& coil Sc gu••1034 F-A
71
71
744 147 71
77
Fit
and
real
est g 445_1950 M-N
94 Bale 94
95
Contin'talC later gn 55 g.1952 F-A
4 94
107% Dec'04
1/634
Cony 43, Series A
1936 51-N
844 8434 Jan -09 .... 84
Jett & Clear C& I let g 53.1926 J•D
107 May'97
8519
Slut Un T6,1 a fund 68_1911 M-N
911
100 Feb'09 .... 95 lin)
Kan& HC & 01st s 6g5s.1951 J -J 1001
1054 Dec'06
/
4
Manufacturing Je Industriai
Pleas Val Coal 1st g f 58.1928 J•J
105 Oct'00
Allis-Chalmers let 58
1930 3•3
8112 Sale 80
Sunday Creek Co g 58....1944 J -J
8234 9£, 81
78 Feb'07
83%
72
Am Ag Chem 1st o 88
1928 A-0 994 Hale 99
Tenn Coal gee 58
9914 48 90 99%
101 1021
1951 /
4 1034 Feb'09
102181034 Am cot Oa eit 419*
1915
974 971
/
4 971, 97
renn Div 1st g tis
1 911
u'i '4
/
4 10512 Feb'01) •• 106410(3; Am Hide & L 1st a
/
41081
a1917 A-0 1061
51f
1911/
g
t38
99;
91)
Birm Div 1st conaol 65..1917 J-J 1061
89% 5 8634 100
/
4100,2 106% 1064 1 10619100', Amer Ice 8ecur deb g0
1925 A-0 6519 67
6812 Feb'09 •••• 67
Cah C AI Co 1st gu g 611.1922 J-D 105 110 110 Jan'09
09
110 110
Am Spirits Mfg 1st g 68 1915 1143 95
9778 964 Feb'09 .... 9519100
De Bar C & I Co gu g 68.1910 F-A 100
103 Nov'08
Ain Tobacco 40-yr g138
1944 A-0 10(3 1110 10614 106% 57 1054 1078
VaIron Coal &Colst g 58 1949 M-S 95
96
1)619 13 95', 1)64,
45.
1951 F-A
75% Sale 75
76%
Victor Fuel let s t 5s
70% ..31, 74
1953 J -J
934 Feb'07
87
Am Thread let cot tr 43 1918
90%
924 Dee'08
..
*No prule 1/relay; latest UM autIsiske(L aDne Jan 81)110 Feb a Due Aar ii
Due ..'.pr a Due ..'ty ,c Duo .tug 4/ 1)110 Oct p Due OV q 1)051)00 a option sale
New York Bond Record-concluded-Page 4
FEB. 27 1909.1
HON
N. Y. STOCK EX011 A NGE
WEEE ENDum FEB 26
s
Price
Friday
h'eb
6-e
Range
Week's
Range or
Since
Last Sale 844 January I
N. Y. STOCK EXCHANGE
WEEK ENDING FEB 26
Price
Fridau
Feb 26
551
Week's
Range or
1,asi. Sale
Range
.84/les
Z14:d January 2
Ma
Venn Co-(Gontinitea)
ASA Low
Rig No Low
Bid
z-outhern Pao Co-(Continued)
A811 Low
Bign No Low High,
9234
Erie & Pitts gu g 3las B 1940 J J
92 Apr'07
blorgan's La & T 1st 7)3 1918 Au 44121
12218 Aug'08
Series C
9234
1940• J
98% Apr'04
let gold 613
11414
110 Nov'06
1920
......
Gr
ex let gm g 4%131941 J J 107%
10634 Dec'08
Nook Cal guar g 58
112 FebNr/
1938 A-0 •
Pitts Ft W & 0 1st 7s 1912
J 108%
127% Oct '02
Ore ea Cal 1st guar g 58 1927 J -J
100 •Nce.
08
,
2d 713
1912 J -J 108%
l09' Jan '09
109 4 1006
So P of Ar gu lstg Os.. c1909 J -J 100
100 Feb'09
100 1004
41912 A •0
3d 7s
107 Oct'08
1st guar g 63
101)
6 Jan '011
101
01910 S.
1015,10114
Pitts Y& Ash 1st con 513.1927 .0.N 10916
110
1 111) 110
110
43o Pao of Cal-68 E& F...1912 A-li 103%
10442J'ne'0:4
PCC& St Lgu412)3A-1940 A-0 109 1104 10915 Dec'08
1st gold Os
1912 A-I)
1145, Deo'04
Series B guar
1942 A-0 109
109 Dec'08
1st con gaar g 5s
111
116
nay'07
1937 11.-N
Series C guar
1942 31.N 108%
11214 ,l'ne'05
S Pao of N Alex 1st g 6s 1911 J -J
104 Apr N):Series 1) 48 guar
1004,102
1945 31-N 10934
102 Feb'09
So Pao Coast 1st go 4s g 1937 84
Series E 316 guar g
95 Sale 04
19411 F -A
13 94
95
05
107 107% Fet1'07
Tex&NOSabDivlet g6s 1912 il-S
Series le 4s guar
1951 J-D 101
Con gold 5s
98% Apr'08
97%
1943 J -J
C St L & P 1st con g 58 1932 A-0 115
11014 Nov'08
o Pac -RR let ref 4s
95 Sale 944
9514 3,c 04% 913
1955 J
Pensacola (lb AU bee L & Nash
seuthern-1t con g 5s
11184 Salt 111% 112
06 106 113
J
1994
J
Pee & East bee000&StL
Registered
ill 114 Nov'u.;
J
1994
J
Peo & Pek Un 1st g 6s
1921 • F •109
123 4Jan'00
Develop & gen 45 Ser A 1:356 A-0 7b34
75%2148 70
784
795,
2d gold 4123
1004 Dee'03
51021 M-N
Mob & Ohio coil tr g1s 1938 31-s
Si) Sale 8816
80
7 855, 83
Pere Marg.-Oh&M 5s 1921 J -13 *1(12%
109 Apr'02
Mem Div 1st g 4%-5s 1990 J -J
11014 107 Nov'ob
Flint & P Mg 65... .....1920 A-0 113% 115 1144 Jan NW
11234 11434
St Louis div 1st g 4s
Feb'09
89%
91
90
1951 J -J
87% 91
1st consol gold 58
1930 M-N
104% 109%
100% 109 46 Feb'09
Ala Oen R 1st g Os
108 Sep'0
1918 J -J 108
. .
Pt Huron Div 1st g 58 1939 A-li *107
IOU Ney'08
Atl & Deny 1st g 4s
11(Po 113
91 Dee'08
1948 J -J
Sag Tus &II 1st gu g 4)3 1031 Ii'- A
2d 4s
83% 80
92 J'ue'136
1948 J -J
Phil B do W See Penn RR
At!& lad 1st g guar 43 1949 A-0 81
Phila & Reading cons 7s.1911 J
11514 Alar'06
Col & Greenv 1st Os
1916 J -J 1118
111 Feb'07
Philippine By 1st 30.yr sr 4s'37 J •J
94 Jan N.0)
95
91
94
E T Va & Ga Div g 58 1930 J -J 108%
109 Nee'l1;•
Pitts Urn & St L See Penn Cu
Con 1st gold 5s
1950 31-N 113
112 Feb'09
112 11284
Pitts Clove 8o Tot See 11 & 0
E Ten reor lien g Os
105 Feb''
1938 M-6
105 105
Pitts Ft W & Ch bee Penn Co
Ga Midland 1st Is
1946 A.0 60
6422 064 Vet)NW
684 604
Pitts McKeee & Y 'See N Y Con
Ulb Pao By 1st g Os
110'2 115% 2 114% 116
1922 2.2 115%
Pitts Sli do L E 1st g 53 1940 A-0 11614
114 Oct '08
/
4116 118 DeeN/8
Knox & Ohio 1st g Os. 1925 J• J 1151
1st consol gold 58
93% J'ly '117
1943 J - 1
Bob& Sir prior lion g 5s 1945 J -J 101%
115% Apr'ut:
Pitts & West bee B &0
Mortgage gold 4s
82 Nov'08
1945 J -J
Deeding Co gen g 4s
09% Sale 9934 10016 10; 9934 1003s
1997
Rich & Dan con g 6s
1035, Feb'09
1915 J -J 1095,
.. 1139 141
IV Registered
.99
1997 J • J
95 Aug'08
Deb 58 stamped
92 3'110'08
9814
1927 A-0
Jersey Cent coil g 4s.
B. 11/51 A 0
97
Rich di, Meek let g 4s 1948 M-N
97
. 98%
8 1108
75 (let '0-4
Rensselaer & Sar Bee
103
11
So Car & Ga let g 5s
M-N
103
Feb'09
1919
1015,103
Rich ifo Dan See South Ity
Virginia Mid ser C 613 191) M-6 105
112 out '06
Rich ifk! Meek See Southern
10514
Series D 4-5e
1085, Dee Nie
1921 M.
Rio or West See Den & Rio Gr
108
Series E 5s
113
'03
Dee
108%
1926 M-6
Hoch & Pate See B R& P
101 Jan'0,
General 58
1930 M-N 10880
107 107
Rome Wet & Og bee N Y Cent
Guar Stamped
1936 M-N 1083g 109 1074 Feb'09
1074 1074
Rutland See N Y Cent
86
W 0& W let cy g-u 43 1924 F -A
901
/
4 14411'07
& H. See Pero Marq
West N C 1st con g 68 1914 J -J 105
108 DeoN/3
Sag
t Jo & Or 1st let g 48-11/47 J-J
94% 92 Feb'09
s do N Ala See L N
95
92
St L & Cairo See Mob do 0100
Spok Falls & Nor 1st g 63.1930 J J
117 J'ly'Uu
St L & Iron Mount See
P
1 'er A of St List g 4128 19311 A-0 107
108 1)e(3'08
Bt L K & N See Wabash
1st con gold 5e....1891-1944 F-A .110
116 Feb'./9
116 116
St L M 13r See T lt A of St L
Gen refund sx g 48
96 Jan N/9
J -J
98
1.)6
1953
Od
St Louis & S If-J(341g 08 11131 J -J 124
121 jail'09
St L
13ge Ter gag 513 1930 A-0 105%
I.11 •DecN./6
122% 124
General gold 58
1931 .1 .1 111 Sale 111
7 11014111
111
Tex & N 0 See So Pao Co
16-20
yr
68
tr rec 1112 M-N
Gen
(31) Sale 80
89% 107 89
89% Tex& Pao 1st gold 58
118
20011 J-D 1175,118 118
16
St .Ltie S 14 RR tons g
J •J
06% 96%
96%
20 gold Inc,5s
96%
91
75 Jan'09
g20130 Mai
Southw Div 1st g 5s 1947 A-0 1004
101
101
La Div B L let g 50
101 101
105 105 Jan N19
1931 J • J
Refunding g 4)3
81/88 Sale 86
1951 J -J
87 23-1 8172 39
W Min W &N W 1st gu 5s'JO F•A 100 103 1065,1Sov'01
5-year gold notes 416-11308 J •D
98 Nov'06
'1"ol & 0 C let g 58
115 112 Jan '014
1930 J -J
at L M & So East gu 416g11109 J .1)
Western Div let g 5s. 1935 A-0 .112
111 5itt)Nra
KO FtS& M eou g 0 1928 MN 111) 1101
:119
119
105%
2 116% 120%
General gold Os
104 IN ov'to1936 J
K 0.0lb & 51 Ity ref g 4s 19:113 A-0
81%
844
Kau & 51 1st gu g 4e
85
12 82% 86%
19110 A•0 03% 04% 95 Feb'09
9234 95
KC& Al it& B let)0158.1921i A-0 *100
88
P & W let gold 4s. 1917 2•.1
88 ll'elPult
86.4 88
Oz'rk & Ch 01st gu 53 g.11113 A-0 96% 97% 1/3 Nov'08
91
'L'olStL& W prlien g 343 1923 J -J
31
911
/
4 ii!
1 91
914
St Louis So See Illinois Cent
00-year gold 48
A-0
86
1950
80
80814 20 831
/
4 88%
OiLS W 1st g 45 het Ott8.1981) 3141
93
04
94
94% 24 92% 94% "['or Ham& Butt let g 45.41946 J •D 904 93
95 Deu'ue
2d g 43 inc bond et18...p11189 J -J
82
83
106%
82 Feb'09
biter& Del 1st con g 58 11328 J
108% 108%
79
82
it/6% 11.18%
Coneol gold 45
22 7816 80%
1932 J •D 78% Sale 78%
79
let reftuid g 45
81 .Nov'W1952 A-0 8114
blray'a PtTer let gu g 58 1947 J •D 101
1011
/
4 Apr'07
On Pao RR & 1 gr g 4s 1947 J -J 1035, Salt 103
103%
102 104
St Paul & Dul bee Nor Pacille
Registered
103
1947 -J 102 103 103
lb 100% 103
St Paul M dc Mau 20(38-1909 A-0 10134 102% 104 Jan'09
98% Sale 118%
1st SO ref 4s
102 104
08% 22 96% 99
g2008 AI1st °onset gold Os
1A0-yr cony 45
131% Feb'09
1933 J -J 132%
131 131%
104% 2370 t02 100
11127 J -J 10314 bale 102
Registered
134 Pet:N.)6
Ore Ry & Nay con g 45 1046 J -D
1033 J • J 130%
99% 50 9831 993
9986 1)94
.
Ii IOU 111
Reduced to gold 4148 1933 J -J 1004 Sale 10914 10914
Ore Short Line let g 68 1922 F-A 119% Salt. 119
1191
/
4
119 120%
Registered
11134 Apr'01
1st cousol g Os
117%
1931 J -J 10814
4 115 118
1946 J -J 117 Sale 117
103% 103%
Dakota ext gold Os
Guar refund 413
J-D
135
1034 1035,
93%
1/4
1
6
1910 31•14 1034
Sale
19211
91
95%
5 0934 100
99% Sale 99%
Mont ext 1st gold 413- 1937 J•D
90%
Registered
94 Jan 'UV
1929 J -D
94
94
1004 Oct'Ou
Registered
Utah & Nor gold 53 1926 J -J 106 .
107% bcp N/8
1937 -1)
51inn Nor Div 1st g 451948 A-0
Uni N J RR & C Co See Pa RR
124 May'05
Minn Union let g 68.-1922 J -J
Utah Central See Rio Gr Web
Mont C let gu g 68
.134 130 Apr'01
1937 J -J 1328
Utah & North Sim Un Pacific
Registered
1304 May'00
Utica & Black R beeN Y Cent
1937 J -J
lst guar gold 58
193 J -J 115% Sale 115% 115% 1 11586 117
andalia consul g 413. .1955 F -A
08%
98 Nov'Ob
116% 119%
Will & F 1st gold 5e 1938 J -D 110
110% 1163
118 Sep '01.1
. V era Cruz &Plat gu 4%81934 J-J
St P is. Nor Pao See Nor Pao
Vet Val Ind & W dee Alo
StP & S'x City Seat:1)AP doU
Virginia Mid bee South By
9112 Salt 91%
8 A& A Pass 1st gu g4s 1943 J •J
91% 10 89
Me Va & tiouthw't 1st gu 58.2093 J -J 110%115 11716 Jan'09 • •. 117%117%
Ise Pres & Ph let g 58_1942 m-b
2 112 113
112% 112
112
let cons 50-year Os
98% 41 984 9834
/
4 Sale 084
1958 A-0 981
14 ,31, N P 1st sink kg 56.19114 J J
110 Oct '03
abattli 1st gold Os
1939 41-.N 112%113% 112% 1131,
1125,1145,
Say F& West Nee Atl Coast L
2t1 gold 5s
105
11/39 F -A 103 lt)53t 195
102%105
Scioto Val ifo N B See Nor Jec W
Debenture series A
10016Jan NM .•.. 10041004
1939 J -J
Seaboard Air Line g 43 11151) A•
64'2 60
63%
B
6414
Series
-J
J
la)
1
,
01
Jan
8
'09
19314
4 63% 60
...•
90
80
refund
g
fis
94
Coll tr
1911 M-N
11084 Oct'Os
1st hen equips IdgOs 192l M-8
100 Dec'05
Ati-Birin 30-yrlat g 4e.e1933 31.8
88 Jan 07
1st lien 50 yr g term 48 1954 J
93 Mar'06
85 J'13"08
Oar Cent 1st con g 4)3_1949 J -J *87
74%
Sale
ref
724
and
let
J-2
ext g 4s
76%
..
1060
71:54" - 755
107 4Aug'00
Fla Cen de Pen 1st g 58.1918. J • J 100
Bet & Ch Ext lst g 56 1911 J -J 1094 11084 1094 10034
108 111,
4
1st land gr oxt g 5s 193U J -J
80%
Des WWII Div 1st g 48 1939 J -J
97 Nov'ul
Consul gold 5s
10:314 Mar'05
1941 J -J *96%
83
40 Dee'te,
Um Div 1st g 3las
1941 A-0 77
Ga do Ala By 1st con 58 o1945 J -J 102% 103 10414 1ieb'011
T01 & Oh Div 1st g 48 1941 M91 Dec'ue
• 1024 102%
UI
1013
Oa Car & No 1st go g bs 19214 J -J 106
UPI
Wab Pitts Term 1st g 48 1954 J
00
1 105 106
49
60
30% 14 48
554
ital% Feb'/9
Saab tib Rea 1st 58
192t, J -J
Trust Co certfs
5131
/
4 sale 48
101.184 106%
514 .03 4534 55%
Sher Stir & 8o See At K & T
2d gold 45
934
98
. lb
1954 J -D
9% Sale
934 1412
Si! Sp Oca & (1 bee At! Coast L
Warren See Del Lao & West
Bo Car d, Uti bee Southern
Wash Cent See Nor Pao
Southern Pacific CoWash 0& W See Southern
lloid 48(Cent Pao coll) k1049 J-D
91% Sale 91
91% 72 00
Wash Terml 1st gu 0148 1945 F-A
92
93% Feb'09
93
9314 9334
Registered
85 Feb'09
le11141. J-D 86
West Maryland let g4s 1952 A-0 83 Sale 82%
85
85
648
. 14 82% 86
Cent Pao 1st ref gu g 4811)49 F-A
081, 08 078s
98 Sale 98
Lien so conv g 4s
11152 A-0
70 Feb'09
6:3
72%
01
9878
Registered
0414
A
Oct
'05
1949
WVaCent& P 1st g Os 1911 2-2 1024
103 Da,:.08
Mort guar gold 34s..k102:4 J -l) 110.4 bale 904
90% 32 8641 93,
4 West N Y & Pa let g 58 1937 J -J 117
117 Feb'))
110 117
Through St la 1st go 43'34 A.0
93% 1/3 4 Jan'09
. Gen gold 3-4s
931
/
4 931
115 14 951
'Jti
Dec
'10
1943 A-0
:
Gal liar d,8 A 1st g 6s 1910 F.A
10114 Feb'09
Income be
101 1e 1011
/
4
25
31 liehNii
51943 Nov
30
Mex & Pao 1st g 5s
1931 M-N
11014 1124 Dec'08
West No Car See South By
..
Gila V 1+ N let gu g 5)3 1924 M-N 1044
1034 Dee'06 - •.• ......
‘VheePg & L E 1st g 55-1926 A-0 101)
1415 Feb'09
105 107
Hone 1L& W T let g 58 1933 M-N 102%
101 Jan'08
Wheel Div let gold 55-1926 J-J
115 J'ly
1st guar 5s red
104 Aug'011
1931 4V1-N 10214
Exton & Imp gold
30 F-A
1035,Dee.'0:11. & T C let g beim gu 11137 J -J 101)16 109% 10934 Feb'09
lilt
let
31-8
consul
4s..........34')
87% 39% 8814
109% 10984
88% 51 5384 90
Coudol g Os int guar-11112 A-0 .108%
107% Nov'07
20-year equip s f Os
1922 J -J
119 Dee 08
Gen gold 48 int guar 1921 A-0 94%
1144 Dec'08
Wilkes & East See Erie
..
Waco& N W div18tg 68'36
DeeN/6
116
110
Wil & Sioux F See StP M &
1941 J -J 108
g 5a
N W let
10716Jan 011
10714;107% Wis Cent 50-yr lat gen 48 1049 I.2
9432Sale 92%
04% 136 8912 947$
U
NV
311SULIALANEOUs BON IP,--Coneladea.
Influnt
nanulacturing
Miscellaneous
Beth Steel 1st ext el 58..1026 J -J
194/, M-S
24 81% 8514 Adams Ex col tr g 4s
81
77
80
Cent Leather 20-year g 68.1112.5 A-0 98% S.ale 96
B'kl'n b'erryCo Piteous g 5s'45 F-A
98% 03 9616 99
ConsolTobaceo 61)-yr g 4)3.1951 F•A
7614 76 Feb
.... 75
7719 Chic J & t Yard col g 53.1915 J-2
Distil See Cot cony 1st g 5s.'27 A-0 75 Sale 75
735, 787 Det 51 & M Mgr mcomes 1911 A-0
75
jut Paper Co let con g 08 1918 F•A 105 121-1ale 1055, 1055, 3 101 108
Institution for Irrig Wks
1935 J -J
Consol couv s f g 58
6 85
88
8814 87
& Bevel of Agricul
88
lut St Pump 10-yr Cony.68'13 J -J
45,5 (ctfs)
1024 101 16 Feb'09
100 102%
1943 31.N
Lackaw Steel 1st g Os-------23 A •0 055, 118
US
hut:Nieman Marine 4168_1922 A-0
15 94
98
05
N I Air Brake let cony Os'28 M-N
1011 1- 1095, 110
12 109%113% Int Navigation 1st s f 5s.1921.4 F-A
Repub I & S let& coltr 55.1934 A-0 0812 sale 98% 100
53 98% luo% Man Bch B.& L gen g 48 1940
US Leath Co s!deb gt33 1013 on-N
100% 1014 Feb'014
Newp Ne Ship & D D 5s d1990 J-J
1045, 1.05
US Realty & I cent;deb g 58'24 J -J
88
88
88% 14 84% (39 7 N 7 Dock 00-yr 1st g 43 1951 F-A
US Rubber 10-yr coil tr 68.'18 J.D 103 Sale 1025, 103
30 1024 103% Providence See deb 4s
1957 M.N
U S steel Corp-jcoup .d1963 31-N 103 Sale 1025, 104 '2965 1025,10414 Provident Loan Soo 4%5 1921 31-S
8110-00 yr 5s.I reg ..i11961 31-N
1035, 101%. 0 102 104¼ St Joseph Stk Ydslet 45,8 1930 J.J
Va-Car Chem col tr 5s g 11112 A-0
1055, Nuv'08
Yuba Wit Co con g 63 1923 J -J
......
96% Sale 9534
1923 J
1st 15-year 68
96 16 210 9384 97' Sp Val Wat Works let 03 1900
Westinehouse E & Ms f Os '31
924 Sale 92%
93% 24 904 95
US Red & Ref 1st 8 f g 64 1931
No price e'rnlay; latest bid and askeo this week. a Due ian
0 Due Feb a. I 410 Apr 5 Due may 9Bile 3'ne
92% 92% 9'2%
924
41 Oct'06
100 Jan '08)
47 Apr'06
45
6 92
9312
92% Feb'00
93
92
71
'725, .102 71.
77
87%
87%
G 87
884
to FebNe.
95
'JO Aug'Ob
92% Sale 925,
t 91% 93
14234
90 Jan
110
89
90
112
146' % Dec'08
1005,6ep '03
112 J'ly'04
17314 J'Iy'OU
90
/
4
91
8914 Sale 891
15 89
ii Due 3 ly p Doe Nov sOution bids
93
92
7134 Sale
87
CHICAGO STOCK EXCHA:VGE-Stock Record-Daily. Weekly and Yearly
srocKs--.I.LfGHEST AND LOWEST SALE PRICES
Feb. 20.
,7,5g-
37
80
17
50
05
52
30511
08
818 818
73
7512
*202 210
*12312 126
*57
63
*103 105
*14
12
1
1
*5117 52
*1
118
*3
4
*2412 2517
*131 132
*I2010817
1812
*75
*123
*40
*43
1-2-1-10817
1812
76
12312
4014
45
*i5i-
103
11914
8017
120
11178
6414
11034
10238
119
*85
*11834
11117
64
110
10214
Thursday
Feb 25.
Friday
Feb. 26.
190 *185 190
Last Sale 187 Feb'09
*312 4
4
Last Sale 310
Feb'09
14
*12
14
Last Sale 127
4 Feb'09
113 *112 113
Last Sale 112 Feb'09
43
43
4314 4314 4314 43
43
29
29 28%
*28
*28
29
2812
1212 *12
1212
Last Sale 1274 Feb'09
2614 *2534 2614 *25
25
26
26
Last Sale 7
Dec'08
Last Sale 18
July'07
;5F -if- -5-5- 35 *34 36
3558 38
*79
*70
80
80
Last Sale 7012 Feb'09
*15
*15
17
Last Sale 17
17
Jan'09
*49
50
*46
50
Last Sale 40
Feb'09
Last Sale 4600 May'03
;55- -270-2 ;.55- 2212 Last Sale 22% Feb010
*63
*03
65
65
Last Sale 05
Feb'09
5114 5114 52
*52
52
*52
53
54
3038 3058 3038 3033 30
3012 30
3013
*9612 98
*9612 08
Last Sale 97
Feb'09
Last Sale 29
June'08
;55- "2:2-1-3
*63
*48
3033
*9617
Wednesday
Feb. 24
*185
*:317
*12
*112
43
*28
*12
*2534
*185 190
*312 4
*12
14
*112 113
*44
4417
n()
*23
*12
1212
20
26
*79
*15
*46
''uesday
Feb. 23.
onday
Feb. 22.
E.
1,2
0
(.0
*ii5- 131 100 10014
58 7,
413 473
8
8
8
7234 75
7218
*202 210
202
128 123 *124
*57
58
57
*103 195
101
8
8
8
8
8
7238 72
73
7234 72
202 *202 205 *202
205
123 *125 130 *125
130
*.in
57
57
*51
57
101 *104 107 *104
107
Last Sale 10
July'08
*14
12
Last sate
*14
12
Jan'09
1
1
1
1
1
1
1
1
*51
53
*5117 52
*51
53
5112 53
Last Sale 147 May'08
113
Last Sale 1
*1
118 -*1Dee'08
Last Sale 2
4
*3
4
*3
Dee'08
Last Sale 25
*24
25
*23
24
Feb'09
129
130 13134 130 13012 130 130
130
Last Sale 214
Mch'08
11* 1201-4 *ii7- 01- 118 118
11812 1181,
108 10814 103 10814 *108 10812 10814 1081..
4
1718 1712 1714 1714
*1812 19
*1812 19
7317 7317 7334 7334
76
*75
12234 123
12-017 1-2678
123 12317 12214 123
*40
40
40
40
40
41
4014 *40
45
Last Sale 44
45
*43
*43
Feb'09
Last Sale 205 June'07
Last Sale 20
July 03
151.- Rif- 155- ftiCi- 10013 10013 100 10012
119 11912 *110 11912 11918 11918
*11817 120
8613 8612 85
*85
85
8613 86
86
110
119 *119 121
*11834 120 *11834 120
110 11138 1101.1 11114 110 11012 11012 11034
7112 6818 70
6417 66
0712 7012 70
11018 11034 11017 11034 11017 11012 110
11017
10134 102
10134 10213 10134 102
10134 10178
Last Sale 7
Feb'09
4.155*127 130
12717 12713
100 10012 *100 10014 10018 10014
100 100
53
78
78
*34 1
34
78
58
434 434
434 434 *412 5
458
478
Last Sale 15
Feb'09
Sates
5) the
Week
Interact
Periol
Price
Friday
Feb. 26
//When
katiroads
100 18473 Jan 20 190 Feb 3
Chicago City Hy
3 Jan 15
Chicago & Oak Park_100
4 Jan 22
100
9 ;fan 21 15 Jan 22
Do pre
nhic Rys part ett "1"-_ _ 112 Feb 1, 11534Jan
45.34
43
Feb 23
Jan 2
90 Chic Rys part ett "2"___
277 -Jan 12 31) Jan 29
20 ChIc Rys part ctf
1217 Feb 19 1312 Jan 2
Chic Rys part c1.1 '• 4''__
25
100
Feb 2(3 2914 Jan 2
Chicago Subway
Chic Union Tractlon_100 ...
100
Do ore
-16 flans City Ry & Lt_100 35 Feb 24 3934 Jan 21
100 79 Jan 8 80 Jan 4
Do pref
100 17 Jan 4 17 Jan 4
Metropol W S Elev
100 47 Jan 14 50 Jan 19
Do pref
North Chicago Street-100
Northwestern Eley-__100 21 Jan 6 23 Jan 21
100 63 Jan 6 65 Jan 36
Do pre
185 South Side Elevated_ _109 50 Jan 25 56 Jan 12
375 Streets W Stable C L-1.00 297t Jan 20 3073 Feb 18
199 97 Feb 15 98)2 Jan 5
Do pref
West Chicago Street-100
Miscellaneous
173 Jan 30
100
385 American Can
IOU 7134 Jan
747
Do pref
2 American Radiator-100 200 Jan 14
100 123 Jan 20
25
Do pref
100 Amer Shipbuilding_100 57 Feb 4.4
100 101 Feb 24
Do pref
1
Amer Straw Board..
100
12Jan 21
Booth (A) 46 Co
34 Feb
100
1.046
Do pref
33 Cal & Chic Canal &D_100 5114 Jan 6
Central Trust Rank_ -190
Chic Brew'g & Maleg
Do pref
Chic Pneumatic Tool-100 '25 Feb 18
"iii Chicago Telephone. b00 127 Jan 4
Do rights
-155 Chic Title & Trust.. 100 11/ Jan 18
736 Gotn mon w'th- Ed ism _100 107 Jan 21
1718 Feb 25
400 Corn Pro41 Ref Co Com__
Do
Pret__
7317 Feb 24
Do
50
100 117 Jan 9
415 Diamond Match
10(4 38 Jan 26
235 111Inoii Brick
Masonic Temple_ _„--.... 43 Jan 5
gliw & Chic Brewing
Do pref
100 9778 .101.n 2
-2-15 Nationa/ Biscuit
100 11814 Feb 15
71
Do pre!
100 82 Jan 14
245 National Carbon
50
Do prof
100 110 Jan 15
1.498 People'sGasL&Coke._100 102 Jan 3
3,067 Sears-Roebuck com--100 55 • Jan 5
612
100 101 Jan 5
Do pre!
100 100101a
9
1.956 Swift & Co
rights
0 Feb 5
Do
115 The Quaker Oats Co..100 119 Jan .5
109 Do prof
100 981.Jan 2
574 Feb 19
701 Unit Box Bd & P Co-100
100
401
Do prof
412 Jan 19
Western Stone
100 15 Feb 10
914 Jan 2
77 Feb 2
202 Feb 4
128 Jan 20
50 Jan 6
105 Jan 7
1 Jan 2
5 Jan 5
56 Jan 26
2738 Jan 4
13134 Feb 23
121 Feb 15
10834 Feb 16
2058 Jan 27
7658 Jan 'I
12414 Feb 10
41 Jan 4
45 Feb
100 Jan 16
12012 Feb (3
8012 Feb 23
119 Feb Is
114l0 Feb 45
711:0 Feb 25
1 01) 1
110 ,
10234 Feb 9
20 Jan 18
130 Jan 30
10134 Feb lu
,Tan 4
'31, Jan 4
15 Feb 10
Louts
Ii 10he.0
160 Jan
1,3 Feb
61, Dec
0034 (le
18 Oct
'20 10,oy
433.1 Sep
)5 Feb
212Mch
135 Dec
348 Aug
10 Aug
119 Nov
47 J'ne
28 Dec
1312 Dec
301. Dec
'I Dec
30 Oct
68 Sep
1214 Nov
42 Jan
44 May
1334 Aug
46 Aug
62 Aug
'2612 Apr
85 Apr
25 Apr
4734 Nov
3612 Nov
19 Jan
54 May
,7 May
22 Dec
6212 Dec
11 Jan
34 Nov
103 J'110
31 May
4 Feb
4112 Jan
125 Jan
int Apr
37 Alch
91 Jan
10 J'ly
7s Dec
3 Dec
90 Feb
147 May
1 Oct
2 Nov
20 Dec
100 Jan
34 Feb
100 Jan
80 Jan
1038 Nov
1078 Dec
200 Dec
12614 Nov
4.43 Nov
1( 4 NOV
42 Jan
30 Jan
100 May
1714 Dec
14/ May
Aug
4 Apr
301, Aug
153 Sep
s34 Feb
116 Dec
110 Oct
113 Jan
30 Jan
38 Joe
13/ Aug
4212 Dec
9), J'ly
19 Joe
70 Jan
10134 Jan
51 Meh
91 Mcb
8013 Jan
24 Jan
72 Jan
8813 Jan
20 .J'ly
97 Dec
120 Aug
87 Dec
115 Nov
100 Dec
50 Dec
102 Dec
1053! Sep
11434 Jan
87 Jan
14 J'ly
112 J'ly
1134 Oct
139 Jan
Co J'ly
13., Jan
12 Jan
17 Aor
Chicago Banks and Trust Comoanies
Outs/and
IV eeles
Range or
Last Sale
',4n9.; for Preticui l'ear
(..908)
ialtfl
, 071C,
Jan. 1 1009
Lottes4
NhafCS
Chicago Bond Record
BONDS
CHICAGO STOCK.
EXCHANGE
Week endfoui Feb. 26.
Sf OCK6
CHICAGO STOCK
EXCHANGE
li'ds
Sold
Rang°
ior
Year 1909
NAME.
Dtr,inand Iteeorn
33#44044
211.)
&act
Proltl3
In
1901
in .Per1908 trxt
Last Pak/
Bid
Alt Low
8
8 0-51 Dec '08, 2
ilioh No Low
821000,000 .51,265,235
Eup, Bankers National
An Dec '08, 6
Amer Strawb'd 1st 644_1011 1 - J 59817 ____ 100 mcn'en
34,125
100,000
Calumet National
10
.1-1 Dec '08, 5
Cass Av & F G (St 1..) 5s'12 J - J ..... ____ 10114Feb'0) ---- 151- 1-0-11; Chloago City
177,103 10
500,000
_
100 May'07 ____
12
12
Chic Board of Trade 4s1927 J - D
(.201 Ian '09, 3
Commercial N ational _ _ _ 3,000,000 4,2(10,501
A
10438
,
1
53_14127
1013
4
8
10412 10412
8
Chicaro City Fly
Q-1 .fan 09, 2
2 14-.0474 105
Continental National... 4,000,000 3.710,934
Q-51 Deo '08, 112
0
OhioConsol Br&Mit 6s____ J - J ---- -_-- 103 Apr'04 --- 4,633
50,000
Gook Co State Sayings
12
- -- Corn Exchange National :.,000,000 5,068,40' 12
Chic Consol Trac 400-1939 J - D --_ ---- 55 Aug'07 ____
Q-J Jan '09, 3
t;
011
et
5s1029 F A --- ---- 91334 Jan'00
0
Chic Audi toriu
53,703
200,000
Q-1 Jan '09. 112
----_ 2Drexel State
____ -___
8
___
392,01)
600,000
Chic Dock Co 1st 4s__1929 A - 0 ---908 (03 Jan '09, 262
1)royers Dep National
0
__- 87 Feb'013 --- --31,160
0-1 Ian '09. 112
200,000
Chic No Shore Nice 8s_1912 A - 0 -__- -__
-- --- Engiew000 State
12
12
(4-54 Dec 31 '08, 3
3,000,1100 8,053,83 i
Chic Pneum ToolFirst National.
10 Q-04 1)cc '08. 212
a1921 J - J 70
74
7312Feb'09 _...,
198.320 10
150,000
1st 5s
72
74
First Nat Englewood
1027 1' • A 10214 Sale 10214 10232 22 10112 10234 Foreman Bros 143'k'g Co_ 1,000,000
Priv ate 13a nit
515,764
Chic Fly 5s
8
8
9478 9514 9478 06
447,712
Chi.) Rys 4-5s series"A"
Q-1 Ju 7
010,
- U_
37
9312 9533 Port Dearborn National- 1,000,000
8914 Sale
1-1 Jan '09. 212
5
158,216
5
8378 8914 1 4
Chic Rys 445 series "B"
500,000
8434 8914 Hamilton Nationai8
9.1 Sale
8
840.682
8914 90
Chic Rys 4-55 series "C"
133
Q-3 Jan '09. 2
89
90
Hibernian Irk's* An... 1,500,000
10
.I-J Jan '09. 5
106,340 10
10238 Sale 10214 10233 ./ 10113 10238 ilaspar State Bank
Chic Rys coil 68_1913
200,000
10-1-2
408,038
Dec '08. 412
Chic fly: Fund 6s____1913 _____ 10218 102)2 10218 10238 12 1.17.18 10238 Live Stock Exchange Nat 1,250,000
4
4
01,578
___ __ 102 Feb0.0 -.-- 102 10212 M.0nroe National
Q-F Feb '09, 1
300,000
Chic Rys Tern Ctts 1st 5s_ _
8
8
6612Aur08 ____ ____ _
Jan '09, 2
2,000,000 1,124,100
Chic It 1 &P RR 4s..-2002 51 --0-7 ___ ___
Nat Bank of Republic
3
401.825
1,500,000
Q-1 Jan '09, 112
- National City
Collat Trust g 5s___101.3 51 -s -_- ---- 60173ly'08 ---62,753 Hogan busine ss
Commoutv'aith-EdisOn250,000
Aug 26 1907
National Produce
374 Q-J Jan 'On, 114
05,891
200,000
Chlc Edison deb 6s1013 3 - J 10134 ____ 100 Junc008 ....... ____
North Avenue State
10.570
0
50,000
Q-1 Jan '09, 112
_-- 10118 10118
1st g 5s __ _July 1926 A - 0 10101
4 101 101
--14 North Side State Sayings
(3
Debenture - s_ _1026 ii - S 10158 102
Q-3
100,000
10130014'09 ..___ 101 1024, zOaltland National
Jan '09, 112
(2)
03,850
-5-58519-11 II - S 10018 Sale 103
250,000
Commonw Elect
19318 37 10234 1035s, Prairie National
40,752
8
8
500,000
Jan '09. 2
Illinois Tunnel 5s____1928 J - D ---- ---8,1 Dec'08 __ ____
Prairie State_
4
7,548
2
55
250,000
Jan '08. 2
Kan City Fly &LtCo
1013 M - N --------96 Oct'00
-- Railway Exchange
Oct 12 1906
300,000
131,079 Organ ized
Knick'b'ker Ice 1st 53-1928 A - 0 06.._ 90
96
5-8 '36 Security
0
'78,005
200,000
9-0
85
Q-1 Jan '09, 112
85
Lake St El-lst 54_1928 J - J 83
3
73
85
South Chicago Savinite
1,344,095
0+1
1,000,000
11
_ State Bank of ChicagoIncome 53
16 May'05 --__ __
1925 Feb --- ---Jan '09, 3
168,016
6
250,000
1-1) Dec '08, 4
Illetr W Side ElStock Yards Sayings__ 41,783
6
51-N Nov '08, 3
200,000
4
8438 8458 8417 8478
83
85
1033 F - A
1st 45
Union Bank of Chicago..
60,863
200,000
3314 8314Feb'09 -.-Q-1 Jan '09. 112
Extension g 4s
1933 J
J 83
8217 8314, Union Stock Yards State
8
8
440 Dee'00 -__ ___ ____ American Trust 46 Say gs- 3,000,000 2,475,4(33
Q-1 Dec '08, 2
North Chic St 1st 53-191.49 J - J ---- -_
840,468
7
(1-.1 Jan '09, 134
1st 5s
Central Trust Co of ill.. 2,000,000
105,751
10§
71400,000
irJ Ati.
:5;
Jan '00, 117
Refunding g 44s._1931 A - 0 ---- ---ChicagoSay Bk & Tr__
5,000,000 §1,208,619
,-- 75 bib 1)7
Q-3 Jan '09, 117
No Chic CityRy400s1927 M.- N
Chicago Title do Trust
14.336
3
10,000
4 A -0 Oct '08, 2
0414 Sale
9414 9417 17
921-4 9-5- (nizens Trust 46 Savings
North West El 1st 43_1011 M - S ..,..10
600,000
8+2 Q-1 Jan '09, 217
485,685
95
9.5
95
16
93
95 • Colonial Trust & Sayings
Dirden Gas 53
1943 M - N 94
02,909
200,000
700 Q-3 Jan '09, 2
Pearsons-Taft 5s
1916 J - 1) 0912 --__ 10014Feb139 __ 10014 10014 Drovers Trust & Sayings
1,500.000
177,308 Organ ized
Apr 13 1907
Ft. S 9612 ---- 97 Feb019 ---.
4.40s
9034 975, Farwell Trust Co
2,000,000 2,330..449
51 - N
4.60s Series 31
99 ---- 0934 9934
1
9934 993,1 First Trust & Savings
1,092 Incorp ca7a-e-d 155; V. 874).1138
200,000
9912 --._ 10018 1u018
2 10018 1001s Guarantee Trust & Sat/Ft. N
4.10s Series F
120 Jan '09 _. __ 120 120
808,803
Pet) Gas L&C 1st 6.3_1943 A - 0 120 121
Jan '09, 2
Harris Trust & Savings- 1,250,000
--4 10+4
Refunding g 54.__.1947 Si- S 10312 Sale 10538 1031- 11 103 104
Illinois Trust & Sayings- 5,000,000 8,253,004 1-0--1Feb '09. 1
200,000
44.064
0
Chin Gas L&C lst5s 1937 J - J 104 10138 104 Feb'09 --__ 104 1045, Kenwood Trust & Saygs
Q-J Jan 5)9, 117
Sale
102
200,000
02
/1
31,619
102
4
2
D
5s_1936
J
Consul)) Gas 1st
102 102
Q-1 Jan '09. 114
Lake View Trust & Savgs
- _ 100 Sen'08
-Mut'l Fuel Gas lst5s1947 Al - N
12
Merchants' Loan & Tr Co 3,000,000 4,867,652 12
Q-1 Jan '09. 3
-9512
9514 9514 10
750,000
250,615
9412 -65
.
0
5'outh Side Eley 4 00_1824 J - J 95
QJ Dec '08, 117
33 Metropolitan Trust & Say
1,500,000 2,015,579
t; 10012 10112 Northern Trust (Jo
3witt 46 Co 1st g 5s___1914 J - J 10112 Sale 10118 1011,
8
8
QJ Jan '00. 2
95 Feb'00 -__
200,000
Onion El (Loop) 5s___1945 A - 0 ---- 95
43,036
0
92
J-J Jan '09. 3
05
North-Western Tr & Say
_
200,000
Linton Pacific cony 4s_1911 ill - N --------114 Noy'04
88,993
0
People's Trust & Sayings
Jan '014. 4
___
_
---....-70
io0s0.6
0500,000
Jan'09
____
col
United Box Board
101,004 1.8
Pullman Trust & Savings
8
70
Q-1 Jan '09, 2
90 May'07 -_ __
500,000
WestChic St 1st 5s-__1928 Ill - __ .._- ____
352,422
8
8
Royal Trust Co
Q-F Feb '09, 2
--1900 F - A --- --.. 6817 Sep'05
2044,000
Tunnel 1st 5s
21,002
5
5
--- Stockmen's Trust & Say.
J-J Jan '09. 212
1,000,000 1,132 90/
1914 J - D ---- ---- 73 June'07 __
Debenture 85
UnionTrust Co_
8 Q-19 Dee '08, 2
8014 Jne'08 __ ____ _
_1936 hi - N ---- ---Consol g 5s
213,908
6
Western Trust & Sayings 1,000,000
Q-1 Jan '09. 17
4001932 .1 - J -- ---- 87 Dee'06 ____ __- West Side Tr & Say Bank
rets_Wes DlyCltyRy
200,000
50,872 Began busine se
Sept 5 190s
- Woodiawn Tr&Say Bank
8512 .115009
Western Stone Co 5s..1909 A - 0
200,000
31,978
0
Q-3 Jan '09. 114
000(0 --Aceru.(1 , nterew- moot he -0-0ded to all Chicago -bon d Wri.4.4....- -• Bid and asked prices; no sales were made on this day.
J Feb. 5 (close of business) for national banks and Fe). 6 (opening of business) for
State institutions. § No price Friday; latest price this week. a Due Deel. 31. b Duo Juno. k Capital increased from $300,000: a stock dividend
g 33 1-SW being declared in part payment therefor. n Capital and surplus to be increased. g Dividends are paid Q-J. with extra payments Q-P.
;As of date Dec. 31 1908. a Drexel State and Oakland National banks oconsolidated in Feb. 19011 under name of Drexel State Bank.
Volume of Business at Stock Exchanges
TRANSACTIONS AT '...HE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Et.:et.
Week ending
Net, 29 1909.
Snares
553
THE CHRONICLE
FEB. 27 1909.1
Par value.
Latlroad.
da.,
Lands
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
518,123 843,116,450 93,986,000
HOLI DAY
7,068,000
1,5611,986 142,921,350
5,456,000
1,102,700 109,742,900
4,710,000
966,779 87,531,025
4,244,500
591,980 53,690,250
Total
4,830,577 $442,001,975 $25,454,500
State
Locals
U. S
Bonds.
512.0001.
342,000
274,000
115,500
220,000
8963,500
Bid .4sk
Electric Companies
Chicago Edison Co See Cl tear II t
litnss Co El L&PC0 1u. 122 121
8612
Narragan(Prov) Si Co_50 *8.5
43
NY ac) El &Pow0.5.104
37
is
100 Go
Preferred
65
.10.,
United Elee of N J
J-D 731! 7412
let 7 45 1049_
Ferry Companies
90
B & N Y 1st Gs 1011...1..)
3u
NY &ER Ferry stk_l
1st Is 1922
N / GO
NY & Bob Is \lay 46 .1-D 94
Hob Fy 151 Is 104611-N 105
90
N Y & N J 5s 1946 __J-.1
•,,',
51,000 10th & 2.31 Sts Ferry_10,,
1st mtge 5s 1910__J-1; 55
23
$1.000 eUnion Ferry stocli__lor
95
M.
elst Is 1020
08
50
70
95
107
95
45
i,5
25
:02
Industrie, anti filiscel
'ol & Hock Coal&I pf 100
j...1
1st g 5s 1017
Col tr 65 Oct 1956_414
...voSol Car ilea:Ana _10,
..,ons Ely L.rt&Refrig_10,
'Consol Rubber TIre_ 10,
lot,
101
preferred
Debenture 4s 1951A &s.
.ons Steamship Lines los
Coil tr 4s 1957 rets.1&.,
orn Prod Ref See Stocl,
'Crucible Steel
0',
ePreferreti --......10
'c'trnberland Ely Copper 5
-Diamond Match Co-10,
1.
Domin.on Copper
.
Douglas Copper
Veon'y Lt & P (Jotet. 111)
1st AI sip Is 1956-J-1
r:lectrle Boat
110
Preferred
Hui
n35
79
-Si
20
/ 38
Ask
75
8012
10112
271,
42
/161-2. 1712
'
,
8
5,14
7
5615
712 758
122 123
ts 818
ea
=44
96
03
kto
8022
75
Short-Term Notes
801)
-__
Am Cifr ser A 4s '11 5$-I1008.
2
91'8 0
9g2 "hl'erterieelleVdedlele
10,
7:8
1909.
1908.
Ser B 4s Itch 15 1211
1903.
12
Ilk.
•'‘ninire Steel
- i
&titer Eight & Tr 6s-See G
26,214,505 Am Tel & Tel g 54 10.1-s 101515 10134
52
11)
29,157,374
Preferred
Stocks--No. shares-1.400,386
4,830,577
1' x bst
' 0-417
10118 10138 Federal Sugar of N Y Sc
Atlan Ooast 1. 5s
Par value
$442,001,975 $121,076,600 52,811,746.775 $2,210,379,100
520,000
510,000
& Ohlo6s J1, 1 -103-2 102s,, 10318 General Chemical__ 10s, 6114 75
$500
Bank shares, par
101:L
10012
10.
il
f
e
li
r
f
c
i
il
e
(410.
vi
e
11.1034
e
r
r
ampoeir
d
cyp
c,
c
10018
101%
Is
&
Chic
Alton
Bonds.
t14
$113,200 Chic R 1 h Pao (is '09A-0 1001t 10034
Mines_1'
$120,000
814
$16,200
81,000
Government bonds...
4.14
21,173,500 Cin Hani&D4 Ms '08 Al-t /
1
7,983.600
as
4,237,500
083,501
State bonds
125,190,400 C C C tic St L Is. June '11 1
9
21
8
1015
Greene
238,076,500
Cananea
018
.
1_38
0
.
.
6,133,000
25,464,500
Rft. and rinse. bonds_
_
168 172
Gursen helm Explor'n 10
Erie 6s, Apr 8 1011._ A0
$146,477,100 In terb RYe 69 1911 M-N
$247,085,100
_ 10312 ellackensack Water Co
$26,429,000 -12,336,700
Total bonds
. :i aftneslizzn4as iVoon '12-2- f'S 91
9,
(.1us89 i1
5s Mch 1910
11-` 1-9
PHILADELPHIA
32
37
10
K C Ry 3: Light 133 2 M Si
DAILY TRANt3ACTION3 AT TfIE BOSTON AND
i
9
Kan C Hog 5s Apr '12...1-J 100 1001 , Havana Tobacco Co_lo,
EXCHANGES.
18
ilyIs
ltirtefgerIr
P
4
12
1.c..3
,,
74
98
Lack Steel Is g 1010_
55112
sedJune 1 22_
New 1-yr 58 Ms.h 1 '10
PhiJadelnhia.
Boston.
Lake Sh & Al So 5s'l0 F A 10118 11)13f. Hecker-Jones...lintel' till
1st 6s 1922
M-- 102- 107
Lou & Nash g 51 '10-A1-S 10118 10118
Week ending
Listed I Un.tetal 1 Bond
Bond
35
45
sier's-Hall-Mar. new_10,
100 100
Rex Cent 153 July 1 101
Lislea Lout-te.
Feb. 26 1909.
sales.
shares
sham
sales.
10Us 10138 tobolten Land & Impl0 , _
illar:s. shirr,
Mich Cent 55 11)10
F-A
- Minn & St L g
-N
.AI
;014
e5s
/11.14
.....
1911)____
98:58
Is '11-F-A
56,300 M 1ssou ri
11,491
15,090
7
11,010 $108,000
10,
18,745
Pa WA c
Saturday
30
ROLL DAY
."'
ilirs
45
10
etd
ferd
dre°11
1,s Fets101 3 cssovop F-A 102 106
Monday
37,700 Natoildex
24,760
40,623
168,000
20,383
10, is.
110
59,514
Is ext to'09 A-0 100 10012 :itisison Realty
Tuesday
61,100
16,512
00
28,483
146,000
eltire
33,191
presto
d nd com 10,
-Ra
51,950
N Y Cent 5s 1910-__F-A 10118 10138 •Ineger
Wednesday
39,418 N Y 0 Lines Eqp
17,110
22,460
172,000
lut, 62 1(4"
36,371
59,400
31'10-147 (44.0-, 339
Thursday
15,140 N Y N /I & H Is
11,665
14,506
135,000
24,0411
20,-2.09
'10-1i. 10034 10212 Internat'l Bank's Co 10 , 05
Friday
Esc Wei"
Went Mer Mar See Stk
Norf & West Us 191051-IN 101118 102
81,538 8159,658 Pa RR Is Mch 15 '10
07
arcledNiekel--112u 102
ele
en
220,512 131,055 5749,000 121,162
10114 1011! Inter
Total
84
8'/
sty.
Pubile Semler Corp 50.fru
86
1st ; 5:s 1932---Al
00,18 10038
"
I 5'
StI.LIS'east 4 Ms '09
13
16
Salt--10
International
9i2
0712
StL&SanFrg5s'll_j&j
0
)
55
1st g Is, 1951
4 35%g notes'12 opF &A 93 965
8
12
10
ho,k-rnat'l Sliver
8
1003
100
'uu_A-t..,
Souto'n
evil
Is
tr
"f."
marked
"and
where
interest"
except
75
11)) 72
All bond prices are now
Preferred
South fly ft Is 1510_ I--A 9 14 902
111
1st Os 1948
9912 100
Southean fly os
08
40
3 , 135
Street Railways
situ Ask Tidewater 6s, 1913, guar 10-.A4 10:04 Lackawanna Steel1U
Bus Ac!
Street Rail ways
1234 1278
100 10014 Caoston Sionotype-2,
Cub Serv Corp N J (Con)
U S Rubber g Is '00_ Al•
New York C uy
aerwayers' Ai tire Co--_10% 258 265
L
J C Hob & Paterson20
Wabash 5s. May 10 1909 100 101) 9 ,I1..A,
Bleeck St & Ful Fstle...10t) 14
tub
B Coal 51.1
ik WI
cs
76
Ill-N 75
4s g 11)49
75
WestIngh El&if 6s 1919 10012 10114
.1st mtge 4s 1030-J-J / 65
10. 10.. 105
Taylor
So J as E14 Trac-100 118 120
• B'y & 7th Ave stic_100 130 154
Ws, f i 102
Preferred
Railroad
99
Gu g Is 1053
M-S 98
e 2d mtge 55 1914__J-J /100 103
•LorILlerd (P) pref_lto. n125 135
No Hod Co Ryils'14 J-J 107 108
Chic Peo & St L pref-1015
Con 5s1943 See Stook SIC list
30
12 p: Osdison So Gazden-lsit, 20
i.8
J -J 106
Is 1028
Deposited stock
B'way Surf 1st 53 go 1924 99 104
1. 14.
SO trO
2d 58 1910
.M-A
Ext 5s 1924
14N 102 103
_ 120
Undoposl ted stock__._
.Cent'l Crosst'n stk_100
'M an hat
12 10
attaiBielareahnCo..
:
ous.
134
_ .12
s,t_:
____
121
10
Me:30111&S
Pat
'31.J-D
g4
tis
con
City
lien
111..
Prior
1022_M-N
e 1st rotge Gs
i 4
f
11' 95,85
1 a eh
114
2d 6s...1914 opt A-() 100
60
Con mtg5e 103-0..J&J
.Cen Pk N & E ft stk 101 30
10 ---Mining'
90 So Side RI (Chid See Ch teem) listIncome Is. July 1931)_ _ / - - I lb [ellenrah
•Cheer & 10th St stk WO 70
red
ela R Coal 5u - __ -434
105
102
&I,
100
_Al
list
'46
5s
T
R
Exit
Syracuse
Chic
Subway
Col & 9th Ave tis See Stoc'.
3-12 _26
2-7
0
udfeg
_ %tda
Pre
treat P &ills 1043.J1) 101 102
Pt W & Don Cy std_10s.
Dry D E 13 & Bu -I10712
5d
71' 11212
Mortgage Bond Co___10
Nat flys of Mexico96
Wilted R.ys of St Le 1st gold 5s 1932--J- D i 90
a___10u 100 105
br
cyli
etu
ufrseC
o
aitteu sv
an
:
rAnci
B
pio
t
eyt
0
N,;a
..N
22
•
50
01
21
14
3
2
8
9
HJ-J
100
ov
30'57
Corn
ctfs
W254
Pri
tr
vot
50
s Scrip Is 1914 .._F-A'45
235
101.4
31.0
6312
100 63
e Preferred
Gen M 461057 twi)A0s,
Eighth Avenue stock_100 230 28)
1658 17
Nevada Cons'd.Copper..5
Gen 43 1934__See Stock Exc list
North% Securities Stubs_ 10,3 125
e Scrip 6s 1914____F-A 1 05 100
-10
Sin
de
Min
Nev-Utah
278
4
37
-23
*35
list
Exc
Stk
E
See
L
Fran
h
Bess
250
UnitRys San
Pitts
•426 & Gr St ry stk-100 290
20 40
03 INIew Central Loal
6.)
100 4112 4212
59 *60
Preferred
42d St M & St N Ave_100 30 _ _. Wash Hy Sc El Co
A Y Alr Braise 6s See Stels Exe. Ilst
89
88
100
CoSecurities
eltallroad
Preferred
99
95
e 1st mtge Os 1910_M-S
N Y Biscuit 6s 1911_111-6 /100
91
J-1) / 8818 8812
in C stir tr cis ser A 'It
43 1051
60
2d income 6s 1915_J-J 1 LO
eNew York Dock__101) 32
36
Seaboard CompanyInter-Met--See Stk Exch anre list
100 78
Securities
so
Gas
lUv
preferred
1st
Eire
ilst
Lax Av hPavE 55 See Stk
200
last
list
York
New
Com & 2d pres-See Ball
Metropol St fty-See StkSic list
N Y TransportatIon
7
r22
0 *334 434
°
Ss g '2%J &J 100 101
Air
Uts(18.3
Elot,Seaboard
Cent
160
19,
stock_100
Avenue
Ninth
100 103
Coll 58 eat May 11 NI-S 9581 9614 Sites- Bem-Pond con:1_10u
60 (ion Gas (N Y)-See Stk Sic list
35
Second Avenue stock_100 9)
10,1 *9584 912
100 120 130
Union Pacificls See Stk
100 e Mutual Gsa
e 1st mtge Is 101YO.M-",
u
NIPItat
eelleol amtvinwes
list AM
412
GasAmsterdam
New
80
76
1948____F-A
Coosel Is
Otis Elevator com
100 49
Industrial and Miscei
51
1st comet 58 1948..-J-J s 99 101
s Sixth Avenue stook-100 120 130
100 $.4
Preferred
01
Adams Exp g 4s 1947.1-1) 9336 9334
NI Y &1111Gas 1st 5s'44 J-J 104 107
85
Brevelng___50
Sou Boulev Is 1045__J-J ($0
l3
e
r
g
r
ur
k
b
e
r
ta
p
d
Pit
*17
1748
15u s60
95 105
J-J
Ainneek Mining
Consol 5s 1945
tit)
-A-0 80
5u
So Fer 1st Is
38
1011 110 114
41
Alliance Realty
N Y & Richmond Gas 100 36
1919--Stock Esc list
Third Avenue-See
Plttsburgh Coal_See SU; Exe list
Allis-Chalmers Co 1st rittl
Nor Un 1st 56 1927__M-94 96 101
tEl
Tarry W P & Ai 5a 1928 170
0
0
0
1
nfir_21
wi
or
a
n
e
:
e
(
o
pr
1
0
p
,
5h
8; Po tfrVj
14
17
S I Is 1936-See Stuck 1.:184,
85 e Standard Gas com_1013 rs _-__ 80
YkersSt11115s 1046 A-() 80
60
60
90
100
100 ,5 50
American Book
e Preferred
35
28th & 29th Sts 151 59 '06 1 25
Pratt & Whitn pref-100 95 1)212
100 113 F.6
M-Is 100 105 ' American Brass
1930
Is
1st
460
204
109
stk
St
ty-Third
lou
Twen
e
Realty Assoc (liklyn)
145 150
American Chicle con 100 191 194
9J
Other Cities
Union Ity 1st Is 1042 F-A 04
!er
!
Rage
ftdPowd COM 100 155 160
Ba
lOts 1,8 ay2
25 1
Preferred
Am Gas & Elec. com_50 *23
80
19
Westchest 1st Is '43 J-J 70
, (.4 J5 198
50 *4112 43
. so
An Graphophoue coo 101/
Preferred
Brooklyn
airniHnecrat & Lt-10u 125 127
u
tfoetcyaC
0 s
35
100 1-3;0
5 - 14
Preferred
Amor Light & Tract-Isb, 132 135
21
Atlan Ave 5s 1009___A-0 103 101
105
10112
10014
1011
Ilardwares_____100
Amer
Preferred
A-0 97 100
Con 55 g 1931
100 475 400
AmMalting 5* 1914-J-1) 100 10'3 :Auger Mfg Co
Col tr g 6% notes-A-0 132
B 1$ & W E Is 1933 A-0 95 100
4
3
ItaIn
0
0u
dIage
.
stdamrdir C
d-2-2
48ort
re114
.1
1
50
114
os
-15-j,
100
Assoe'13_100
9012
Press
Amer
Gas
State
Bay
195
100
Brooklyn City stock_10
24
Am Soda Fount com..100
iiinghTn (N Y) Gas Wks
Con 55-See Stk Exch Sze list
Adjust M 5s Apr 11931 / 3
4
98
100
15
95
1st preferred
__A&O
5s
g
1st
,00
1/5
A-0
1041
58
1st
lists
Bkn
Standard CouplerCOLIii0U 25
35
2
100
_
26 preferred
1938--Gas deb
Brooklyn Union
Bkin Q Co & Sub See Stk Esc list
100 100 110
Preferred
e Am St Found new _ _104., -3-5 - 3-4
(Gs 1900 See Stk Exca list
Bklyn Rap Tran-see SU( Esc list
18
8
6
Gs 1925
A &O 95 100 Standard Milling Co_100 16
Buffalo City Gas stoeic100
*Coney 1st & BItlyn_10U 85 to.)
100 50
Preferred
52
Deb 4s 1923.....F&A 61
0412
8,2
1st Is 1947-See Stock Sac list
78
1st cons g 45 1948__J-J
1st Is 1930M-Is 83
86
97
50 200
93
American Surety
Con Gas of N J 59 '36.J-J
1 55 1939_3-3 93 LOU
Brk C /e1,
J__100
N
of
011
Standard
635 645
American Thread pref_5
Gept&LorSt 1st Gs_M &N ---- - - - Consumers' L H & Pows013
ofi
....
0s
14
j Si. list
jt1k
t _S
te
io
%C
6w1isitt 5
J-D 105 __ _. Am Tobacco Co com_100
Is 1938
Kings C El 4s-See Stock Exc list
10112
0
45
3 33
25
Atner Ty peiders com -1 00 33
-- __-- Denver Gas ec E cc-_100 164 106
Nassau Elec pref-100
Coal-100
Pacific
eTexash
85 100
100 94
93
9,
Preferred
Gen r 55 1949 op-MN 91
-.
,
A-0 7.
58 1944
tie Ins Co of N Y___11)ti 143 155
11
2
Paper-100
2
_
275
Amer
Writing
Co_100
Lt
list
Gas
Exc
Elizabeth
1st 46 1951-See Stock
Tonopah Min (Nevada).! 4,9
100
14
Preferred
97
Essex de Hudson Gas_100 125 1-27
N Wbg&Flat 1st ex 4345 92
Iren ton Potteries com100
3
17
8
3
64
1st s Is Is 19 op'09-J-J It
Gas & El Bergen Co_100 62
Steinway 1st 68 1922-J-J 107 112
Preferred. new..._160 50
612
4
55
60
100
Lines
SS
&Wind
11/2
100
AtiCif
15-F-A
Is
Rap
1st
Gr
G
e
Other Cities
100
Prow
17
Directory
20
.20
35
100
Preferred
100 114 117
ilud.son Co Gas
Buffalo Street Elyefpeerw
Try
sta p
reridter com 1Olt 55
Unlio
60
J-J / 58 61
23
21
Coltrg Is 1959
Indiana Lighting Co
let consol 55 1931 F-A 106 108
100 111 113
65
Barney Sr Smith Car-100 30
F-A 63
4s 1058 op
A-0 106 10712
Deb 65 1917
100 110 111
Zd
preferred
100
- tir
45
Preferred
50 20
98
Indianapolis Gas
Columbus (0) St Ry-100 to
59
13ethi m SteelCorp--SeeS 51;.-t -8 113L United Bk Note Corp_50 *46
90
A-0 75
100
10414
1st g 5s 11)52
. Preferred
50 *53
Preferred •
55
Jackson Gas Is g '37-A-0 ____ __ 1311ss Company cons- 50 110 115 eUnited
um R con 5s-SeePtt. la fist
Comm
Cigar Mfg.pf-100 10012 103
50 120 125
92
Preferred
100 OU
Crosst'ivn 1st 35'33 3-1) 1Ju 104 e Laclede Gas
109
United
1118 1112
380
Guar__100
375
Mtge
&
95
Bond
__.
__100
74
Preferred
77
c
Ltgeom-100
esConn Ely &
100 32
P
re CreociPPer
Preferred
40
Borden's Gond Milk_ 100 128 133
100 8212 e710 Madison Gas 65-1-0-2-61 A-0 1-0512 108
sPreferred
100
U S Casualty
200
100 1u5 1(17
Preferred
100 ---- 59
Newark Gas Os 1944 __Q-J lii0 142
Grand Rap.ds Ry
100 30
S Envelope com
U
7
50
*634
Si
Copper
06
Col
95
13ritish
Gas_100
1011
80
Consol
88
Newark
_ ..
Preferred
10u 102 106
ePreferred
Witte Coalition Alining 15 *2534 2214
108 10812
e Con g Is 1048_ -_J-I 107 108
_---30....J&J
e Loulsv St 5s19
U SSteel Corporation1.14 3
Casein Co of Am coni-100
No Hudson L II hPowLynn & Bos 1st Is '24 J-I) 105 107
'51 opt '11 11334 115
Is
f
5
tr
Col
75
100
1.0
Preferred
18
A-0
__
5s 1938
e New Orl Rys & Lgt-100
Col tr s f 5s '51 not opt 11334 115
87 Casualty Co of Amer-100 135
29-433; Pat & Pas Gas& Elec.100 113
100 42
e Preferred
70
100 127 130
---- U 6 Tit Gu & Indent-100 65
- Celluloid Co
M S 103
e Con g Is 1949
Gen Mg 4 Ms '35 See F. tk Ex list
04
Copper Co-See Stk Exe list
eUtah
1937_3_3
com-100
9
58
6
Gas
eph
Fireworks
Jos
97
Cent
leago
Is).
St
North Chic Street See Ch
Waterbury Co. eom_10t)
100 60
70
Preferred
!clew' Zit telephone
Pub Serv Corp of N J .100 95 100
100
Preferred -,
100
212 312
80 Central FonndrY
80 eAmer Toleg & Ca Isle _100 76
o perpet 79
Tr ctfs 2% to 67
isi2 Westchester & Bronx 'lit
100 17
Preferred
Coll 53 g notes 400.),(-N 1110 100,4 :Central 14 So Amer..100 107 111
100 143
e uar
NitgeteG
&teru
wos
75
74
• Deb (15 1919 op '01 A-1-N
40 (7omm1 Un Tel (NY),.25 110 120
North Jersey St Ry 100 35
100
lot
70 Oontury Realty
M-N 77.- . Fano & Bay State Tel 100 10
1st 4s 1948
,....50
Brake
Air
'105
West1ngh
Co_100
600
500
Mfg
Chesebrough
48
71; FrankILI5
. _100 41)
Cone Tract of N J-100 75
West 1-.3 & Mfg 5s-Ses St Sic list
100 60 65
612 'Gold & Sili.
-IPT:ei-er -100 105 112 City Invest:Ina' Co
c.
let Is 1933___J-D 10432 1,
Min _____10
Knob
105
White
100
B),
eCianIn
11511
(H
11414
-100
c001
_100
Telopit
110
eN
108
Y
J
N
&
New'kPaaRy 55 30 J-J
10
100 91
Preferred
05
elst preforms
Rapid Tran St Ry_100 245 ___- sNorthwestem Teleg_60 lokl 112
9712 Worthing Pump pref..100 LOT 1081.
e2d preferred______100 92
65
25 55
Pac'etle & A antic
A-0 106 1st is 1921
Sazes at
New Yolk Stock
r.reaetnae
Week ending Feb. 26.
Jan. 1 to Feb 26.
Outside Securities
*Per share. a Ex-rights. blasts. o Sells on Stk. Si., but not very active. /Flat price. n Nom. s sats.prtcc. zEx-div.
BOSTON STOOK EXCHANGE-Stock Record, Daily, Weekly and Yearly'
SHARE PRICE -NOT PER CENTUM PRICES
Saturday
Feb 20
Monday
Feb 22
_
Tuesday
Feb 23
Wednesday
Feb 24
Thursday
Feb 25
Friday
Feb 26
:Ayes
01 the
Week
Shares
STOCKS
BOSTON STOCK
EXCHANGE
Rance 201, dein 1
1909
Liman
adts
e Fe_100
so
ab
Raalir
Tob
Highest
anqe
Lowest
Prevtaus Yea?
(19019
Iltyhest
WASHINGTON'S BIRTHDAY
99
10014 10114 10112 10113
9834 10114 90
98 Jan 13 10312 Feb
1011. 10218
943 Atch
6758 Fel, 10114 Dec
*10112 10212 *10178 10278 *10113 1021. 10214 10214
100 10034 Jan 15 10'21
/
4 2eb 26
Do pret
*10112 10212
10
8212 Mei' 10414 Dec
23514 23613 23612 23612 236 237 - *235
*236 237
100 225 Jan 4 237 Jan 15 18113 Jan 230 Deo
237
125 Boston & A lbany
129
12812
12812
129
12812
128
100
129
12414 Jan 7 130 Jan 2, 1211. Dec 190 Jan
128
128
574 Boston Elevated
12814
232 23212 *___- 23212 232 232
100 224 Jan 12 234 Jan 26 20012 Feb 228 Deo
232
232
51 Boston & Lowell
5 135 *
13212 136
1321 13514 136
*:::: 139
100 13213.an 2 191) .7a2 15 114 Oct 140 Jan
226 Boston & Maine
*-- 168
-------- ---151
100
Feb 26 152 Feb 26 136 Feb 156 Jan
__- -_-- 151
152
Do pref
12
*-- 300 *-- 300 *- - 300
*566"
an ii 284 Jan 301 Nov
300
300
5 Boston & Providence_100 300 Jan 4 301
*.. _ _ 19 *._- 19
*____ 19
-Last Sale 1912 Feb'09
1134 Jan 2 22 Feb 3
9 M(2,
Bost Suburban El Cos.__
13 Mch
74
74
75
*73
75
6012 Jan 5 75 Feb 3
74
*73
75
45 Jan
-Do pref
58 Nov
-iii
*10 --_- *10 -__
*10-Last Sale 1334-- Fe-b'09 ....i Boston &Wor Eiec Cos
1012 Jan 8 14 Jan 22
812 Nov
17 Jan
*____ 54
56 4,_ - 54
*55
52 Jan 6 57 Jan 26
54
Do pref
6012 Jan
64
4712 Dec
*__ 150 4..2- 150
4_2 150
-Last Sale 150 Feb'09
Chic Junc Ry & USY..100 143 Jan 25 150 Feb33 126 Jan
15114 Dec
2..... ....._ 119 119
--.... ---- .
100 118 Jan 27 120 Jar. ti 102 J ti
Do ore(
12012 Deo
-iL
---- -_ ---- --_
Last Sale 170-- Fei)-235 _22 Con & Mont. Class 4_100 170 Jan 26 170 Jan 26 183 Dec 125 Mat
, 138 Apr
-- --Last Sale 139 Feb'09 -2_ Conn & Pass R!v pref.100 139 Jan 2 139 Jan 2 13314 se
Last Sale 267
River-2100 267 Jan 15 267 Jan 15 244 Jan 223 Deo
153 fir 158; iiiii 135 135 -... Jar200 ""ii Connecticut
153" 135
100 132 Jan 2 136 Feb
Fitchburg, pret
117 Jan
133 Nov
*81
*____ 83
8212 82
82
*80
67 Apr
100 75 Jan 6 5413 Feb 2
8112 *80- 11-150 Ga Sly & Electric
88 Deo
3
*82
85
282
85
83
83
*82
81 Oct
85
100 79 Jan 14 85 Feb IS
*82
85 Deo
Do pret
85
1
Last Sale 19514 Jan'09
100 19514 Ja2. 13 49514 Jan 12 193 Nov 193 Nov
Maine Central
-1
f4
1
,
- -- -ii- Y4-- 14
2
1114 Jan 12 15 Feb lb
71.14- 14-114
8/
1
4 Jan
10J
Mass Electric Cos
14
1334 Nov
14
-156
2.-- 69
26712 69
68
68
68
40 Jan
64 Nov
68
100 5812 Jan 15 70 Feb 11
68
Do pret
40
68
15834 15914 15838 159
159 15934
158 15812 158
161 Nov
451 N Y N H it Hartford.100 157 Jan 21 164 Jan ii 128 Jan
15812
Last Bak 146 Feb'09 ____ Northern N Ei
100 148 Feb 4 146 Feb 4 140 Jne
146 Apr
'200 Ayr :05 Feb
Last Salo 205
Norwich & Wor twa
Oet'08 19813
i72 19912 *108figii N812
15.6" 190
19812 198
/
4 Deo
1
4 Jan -8 175 Jan 1961
100 199 Jan 5 200/
198
72 Old Colony
*25
29
*25
29
27
34 Deo
25 Jan
Last Sale 28
Rutland pre
100 21 Jan 22 30 Jan 4
Feb'09
49134 --- *91
*9134 -92
95 Dec
Last Sale 9214 Feb'09_
70 Feb
--100 91 Jan 5 9212 Jan 11
__ -_ Seattle Electric
9912 9912 9912 9912 9912 100
100 100
883 Jan 102 Dec
*9912 100
100 9013 Jan 30 10113 Jan 5
22
Do ore
17338 17678 17438 17518 17323 17434 217278 17358 4,644 Union Pacific
1
4
177 178/
1
4 Nov
100 217278 Feb 26 18334 Jan 2 11012 Meii 186/
*9534 9634 29518 9618
*9513 9612
9723 Nov
Last Sale 95
Do pref
Feb2)9 -_-_
100 9412 Feb 8 9614 Jan L3
7834 Apr
161 Nov
Last Sale 165
Vermont & Mass, ,,_100 165 Jan 20 166 Ja . 27 150 Jan
Jan'09
-iii- -9-4-- *-_-_--: Ii- *9313 94
;or VI::
9112 Sep
76 Jan
94
94
-i5 West End St
50 88 Jan 2 95 Feb 19
*10812 110
10912 10912 109 110
110 Dec
109 109
96 Jan
100
100
50 10614 Jan 0 11012 Feb 3
175
Do pret
..- -2_ ---- --Last Sale 140
138 J'ly 140 Mch
Sep'08 ____ Wore Nash & Roch_100
Miscellaneous
3514 3713 3512 3634 35
3712 3712
35 Nov
3534 3512 3512 1,936 Amer Agricul Chem_100 3314 Jan 2 4034 Jan 23
13 Jan
99
93
99
9978 9712 9812 97
77 Mel] 96 Nov
99
98
98
380
Do pre
100 94 Jan 18 100 Feb 16
812 978
9
914
12 Dec
834 912
914 978
4 Feb
972 Feb 23
014
523Jan 26
92 8.961 Amer Pneu Service
50
is
1811 1812
'3 Deo
1878 1714 1838 18
1872 1813 1914 3,481
Do pref
50 13 Jan 13 1914 Feb 26
912 Feb
12818 12834 128 129 212014 12814 1,283 Amer Sugar Refln
12712 131
13034 131
9914 Jan 13738 Nov
100 12618 Feb 24 13334 Jan 22
129 129
129 129
12812 129
129 12938 *127
Do pre
246
128
100 127 Jan J 130 Jan 5 106 Feb 132 Nov
12624 123
12811 12878
12623 128
12712 12814 12818 12838 7.902 Amer Telep is Teleg 100 12514 Feb 1 12978 Feb 1/
99 Jan 13212 Nov
*28
29
2813 2853 28
2912 30
3338 Dec
28
2712 2713
16 Jan
100 American Woolen
100 2712 Feb 4 3058 inn 2
96
9612 9512 98
9818 9634
9612 Nov
9534 96 '9512 9614
7734 Feb
/
Do pret
4 Feb 18
854
100 932 Jan 15 971
412 Dec
414 5
413
Boston
413
3 Jan
10
Land
4 Jan 6
215
5 Feb 25
*HI
*VIC :::: iii iii" 127 127
127
71 Cumb Telep & Teleg_100 125 Jan 25 12712 Jan 8
127
9)312 Jan 128 Nov
3418
33
31
31
30
31
3112 3113 231
2114 Dec
32
575 Dominion Iron dc Steel-- 1812 Jan 11 3812 Feb 17
1434 Jail
8
813 834
8
838 Nov
818
8
812 10
9
914 7,820 East Boston Land
7 Jan 4 10 Feb 25
414 Mcb
250 26012 220 250
250 2501. 251
24912 251
251 Edison Elec Illum___100 245 Jan 2 252 Jan 23 201 Meb 253 Nov
251
152 15212 15038 15013 15213 153
15412 15412
15312 15312
214 General Electric
100 15038 Feb 24 159 Jan 2 111 Jan 162 Dec
65
65
6414 65
6414 02
6418 6412 64
65
ou Dec
49 Met
2,379 MassachusettsGasCos 100 59 Jan 5 07 Feb 16
93
92
90 Nov
92
9213 92
9312 9312
92
92
Do pref
92
833
100 89 Jan 5 9378 Feb 18
77 Jan
e____ 218
210 210
215 215 *2 _ 212
208
208
49 Mergenthaler Lino
100 205 Jan 7 220 Feb 17 192 Apr 215 Nov
*2
212 *2
*2
213 -Last Sale 2
212
3 Oct
Feb'09 2___ Mexican Telephone
21., Feb 4
10
1 Mch
2 Jan 5
74
74
74
*73
75
*72
7412
74
73
78 Nov
73
27 N E Cotton Yarn
100 72 Jan 27 75 - Feb 15
40 Mch
*98
98
93
99
98
98
98
93 Dec
98
97
Do pref
97
144
100 03 Jan 2 99 Feb 10
75 Meh
132 13234 13213 133
13212 133
13112 132
133 133
447 N 21 Telephone
100 12614 Jan 5 133 Feb 24 105 Jan 128 Nov
7813
27814 7814 *7812 78.12
*76
P22, oe 1 as.st Pow:n-2_10o 75 Feb 6 7812 Feb Last Sale 77
5112 Jul 79 Dec
11 Fe1b60'091
-222 Pullman Co
170 171
170 170
17012 171
169/
1
4 170
100 168 Jan 30 17212 Jan 23 147 Jan 17412 Nov
1018 1018 1014 1013 10
*10_
1012 Nov
-----10
9 Apr
145 Reece Button-Hole_ 10
934 Jan 11
1034 Jan 2
10134 10258 10134 10214 10134 10214 102- 102- 1,100 Swift & Co
10214 1-0212
_8812 Jan 10812 J'ly
100 100 Jan 9 103 Feb 9
*2112 2212
24 Oct
*2112 2212 *2112 2212
Feb'09 ____ forrtngton. Class A
Last Sale 22
20 Jan
25 22 Jan 15 2312 Jan 4
*25
2512
*25
2512 *25
Last Sale 2514 Feb'09 __ Do
2112
23 May 2612 Dec
pref
25 2414 Jan 29 2514 Feb 5
212 Jan
Last Sale 112
Union Cop L'd do M22_ 25
Feb'09 -114 Mell
134 Jan 4
1 Jan 26
12634 fin; 12434 fir 127 128 12712 128
Jan 148 J'ly
11413
127 1Yr-1;
612 United Fruit
4
Jan
121312
100
Jan 13 131
6238 Nov
6434 64
6412 6912 6478 5.005 Un Shoe Mach Corp.... 25 60 Jan 2 6614 Jan 14
6434 6512 64
6514 6534
3512 Jan
20 Nov
291. 2912 2913
2913 2934 2912 2934 29
24/
1
4 Jan
2912 2934
665
Do pre
25 2812 Jan 11 30 Feb 11
5834 Nov
4134 4418 42
45
42
46
4378 4318 44 40,293 U B Steel Corp
48
26 Jan
100 4134 Feb 24 5478 Jan 15
10778 10914 10918 10934 2.731
107 10812 10714 109
8713 Jan 112 Nov
10958 11138
Do pref
100 107 Feb 22 11478 Jan 15
912 Nov
*7
8 . 7
4 Feb
7
8
*7
*7
7
8
7
45 West Telep & Teleg 100
8 Jan 6
618 Jan 11
8014 Dec
2 Do prof
77
77
77
77 *-___ 78
69 Jan
78
78
100 77 Feb 10 82 Jan 11
Mining
112 Feb
1214 Aug
712 1.754 Adventure Con
712
712 712
*734 8
712 734
734 778
1014 Jan ,
712 Feb 1
25
4112 4012 41
4214 39
41
4113 Nov
24 Apr
42
43
1,820 Allouez
39
40
25 34 Jan 29 45 Feb 16
881
/
4 Nov
6834 7178 6818 7012 6618 7014 65
45 Feb
7253 7313
6718 71,929 Amalgamated Copper 100 65 Feb 26 845s Jan 2
*____ 2412 24
25
2512 2614
30 J'nu
204 Jan
2212 2414
725 Am 'Zinc Lead & Sm..,. 25 2313 Feb 4 '273i Feb 9
28 Feb
53 Nov
.__. .- 40 40 40 40 -5.1-8 "ii 55 Anaconda
25 3818 Feb 26 4878 Jan 6
4 478 414 4/
6 Jan
4
3 Dec
1
4
514 Feb 25
412 514
5 10,709 Arcadian
2i Jan 30
458
25
32/
1
4 3312 31
4058 Deo
3334 34
3212 3012 3112 30
14 Jan
3034 4.779 Arizona Commercial_ 25 30 Feb 26 38 Jan 2
*.80 .99 *.80 .99
.90 Aug
.90 Feb
4,.80 .99
Last Sale 1
_ Arnold
1 Feb 17
Feb'09
25 45 Feb 17
*1512
16
15
1528 15
Apr
1612 1612
1912 Nov
1512 15
1-2355 Atlantic
15
18 Jan 2
.45 .45 * .45 .50 * .45 .50 * .45 .50
*.45 .55
100 Bonanza (Dev Co)
15
3'4 Feb 16
1 ,55 Jan 2 .25 Oct .75 Nov
1
20
5 .4
1113 121 1 1114 1113 1138 1138 1114 111
1214 1212
1818 Nov
1014 Apr
1
4Jan 2
/
4 3.292 BostonCon CdcG (rcts) 51 1114 Feb 24 17/
1734 1812 1712 1818 1712 18 , 1738 173 2.275 Ros&CorbCop&SIIMg 5 1738 Feb 26 2258Jan 2
26 Nov •
1812 1812
1114 Apr
2233 2234 2128 2212 2112 2212 2138 22 8 10,960 Butte Coalition
30 Aug
1512 Jan
23
2314
15 2138 Feb 24 2738 Jan 2
• 9814 10013 98 101
100 101
93 Feb 130 Aug
98 101
9813 9912 1.499 Calumet & Arizona
10 97 Feb 1 119 Jan 4
620 625
625 630
*635 644
615 620
585
227 Calumet & Hecla
620
25 585 Feb.26 680 Jan 4 r565 Mch 700 Jan
3112 3112 30
*3212 3312
30
3634 Nov
21 Feb
30
3013 29
3434 Feb 16
1,000 Centennial
30
4.30 .34
.30 .30 * .30 .32 * .30 .32
.30 . 30
400 Cons Mercur Gold__ _ _ 25
1 ,35 ..an 15 .25 Mch .45 J'ne
F b 7
20
9 Jan
1 3
7118 7212 7012 7134 7014 7134 6812 70
8378 Nov
5513 Feb
7212 7334
7,602 Copper Range Con Co 100 6812 Feb 26 8214 Jan 2
10
10
10
10
10
10
7 Jan
1172 Nov
912 912
912 10
7
91 Feb2
1 11 Jan 14
545 Daly West
1234 1314 1234 1414 1334 1422 133.1 1418 19,980 East Butte Cop 221n_120
1234 1318
10 Deo
los Feb 25
834 Dec
Feb
9
*2
214
.119 Alch
*2
234 Nov
2
214
2
212Jan 15
2
2
218
250 Elm River
2/
1
4
2 Jan 9
12
1312 14
1312 14
14
14
1913 Nov
13
13
612 Apr
13
Feb 25 1612Jan 2
1314 1.483 Franklin
97
95
97
80 Jan 110 J'ly
97
9712 98
93
90
5 110 Jan 4
90
eb 26
296 Granby Consolidated 100
13 'e
95
25 90F
67 Jan
13/
1
4 Aug
1014 1038
234 978
912 10
978 1014
9
938 11,649 Greene Cananea
0 Feb 26 1234 Jan 2
1/
1
4 J'ly
278 Jan
Last Sate 2
_ Guanajuato Consol.- 29
Dee08
5
-251.2 3114 -28I-2 If" 2914 3078 2878 3012 24-,264 Isle Royale (Copper). 25 24 Jan 5 3214 Feb 19
1734 Feb
-:
-31i4
26/
1
4 Jan
17
17
18
1834
10 Sep
18
2414 Dec
18
1712 18
1713 1218 2,290 Dike Copper
25 16 Jan 30 2312 Jan 4
1512 1412 1514 1434 1513 1434 15
15
1514 1573
1214 Jan
1714 Jan
3,573 I.a Salle Copper
25 13 Jan 30 1634 Feb 16
*514 512
514 514
638 Feb 10
838 Aug
5
214 !deb
5
3
5
5
375 Mass Consol
5
b 17
2
25
5 54073 Feb
* 250 230 * .45 .60
*.60 .60
_25 Jan
275
.58 Feb 4
Last Sale 12
Feb'09 ____ Mayflower
4
4
313 Dec
*334 4
*334 4
334 334 2334
8 Jan
5 Jan 8
334 Feb 25
4
380 Mexico Cow M & S.... 10
13
/
1
4
1314 1318 131 1
1314 1314
Se
1278 1338 1234 1278 3,385 &natal Copper
1512 Deo
5 12.34 Feb 26 1538Jan 2
1112
*11
1012 1012 1012 1012 1013 1012
11
11
79144 et
1512 Nov
456 Michigan
25 1012 Jan 30 13 Jan 4
*62
60
62
60
63
60
60
45 Feb
73 Nov:
60
5912 691
. 771 Mohawk
25 59 Feb 1 7018 Jan 8
13 Jan
.20 .20
*.15 .25
.26 .26
150 Montana Consol C & C 10 .19 Feb 11 35 Jan 2 .25 Deo
1712 1621 1718
-1712 1712
1678 1714 -Thf2 -113; 2,800 Nevada Consolidated_ 5 1612 Feb 26 1983 Jan 15
17
8/
1
4 Jan
2034 Nov
*434 5
*412 434
438 434 *453 412 *438
438 Oct
6 Jan 4
8 May;
41.
438 Feb 24
130 Newhouse Mines & S. 10
7218 7234
6612 7112 6614 6912 6612 6914 6613 68 31,284 North Butte
4034 Feb
8034 Nov
15 6814 Feb 24 8514 Jan 2
4.60
_
1 J'ly
_
*.60 ____ * .60 ---- * .60
.60
.60
d Co
50 011ony
25 .60 Jan 8 60 Jan 8 .50 Jan
4912 50
6012 Dec
28 Jan
4914 4714 4914 4714 -4-812 47/
48
1
4 4734 2,925 Old Domlnion
25 4714 Feb 24 2814 Jan 2
134 135
12912 134
130
77 Feb 13512 Dec
2% 132
122
4 4 128 134
26
1 138 Feb 19
132
1.728 Osceola
2613 27
2714 2714
3013 Jan 2
2712 2612 27
27
2613 27
31/
1
4 Deo .
1012 Jan
1.800 Parrott (Silver & Cop) 2
10
5 12
28
2 Feb
*__ __
1 *___ _
1
1
Last Sale 1
lidich
Jan'09
1 Jan 14
114 Jan
___ Phoenix Consolidated 25
1 Jan 14
85
90
88
90
85
87
88
88
77 Feb 100 Aug',
86
87
-321 Quincy
25 85 Feb 1 90 Jan 4
514 Jan 6
Last Salt 5
2 Mch
638 Nov
Feb'09
Rhode Nand
478 Jan 30
25
*214 212
F, -if's 2 2
2
153 Apr
278 Jail 8
2
25
338 Nov
-(Gold & Cop) 10
-ia
2 Feb1412
14
14
1414 1334 14
1414 14
1312 1372 4,261 SSaheantanoFne
934 Feb
1914 Nov
10 1312 Feb 26 3775 Jan 4
41
4134 4212 40
43
43
4112 4212 5.752 Superior
4514 Feb 15
14 Apr
4224 43
Jan
3612 Nov
1434 1434 1438 1434 3,406 Superior do Boston Min_10
1514 1532
1434 1518 1438 15
5 1713 Feb 16
25 31138 Feb 24
1433 15
15
1378 1414 1378 141
/
4 14
15
15
1418 Oct
5,344 Superior&PItts Copp_ 10 1373 Feb 24 1773 Jan 2
20/
1
4 Nov
82
84
78
7912 81
8512 81
82
90
87
58 Mch 88 Nov
3,011 Tamarack
25 72 Feb 1 90 Feb 25
1313 1312
1314 1234 1234 1,431 Trinity
13
1212 1314 1213 13
1218 Feb
2b Aug ,
25 12 Feb 19 1783 Jan 23
1258 1228
1138 1134 *11 Nov12018
*12
1214 *1158 12
1614 Jan 8
438 Mch
6.5 United Copper
3
00 1138 Feb 2.
1612 Nov
10
Last Salt 36-__
2334 Apr
Do pre'
30 Nov
s
-5118 "ifi
;5672 7_7_ ;56i4 :72 *3014 3012 *-301= -21-14 -50
UnitedStatesCoal &Oil 25 28 Jan 12 3211 Feb 1(1
9 Mch
4 Nov
323
4312 4134
39
4018 4034 3934 40
3914 39
39/
1
4 2,020 U S Smelt 112f & Min_ 50 39 Feb 25 4&'s Jan 7
28 Mch
9675 Nov
1
4 4412 4412 45
45
45
4412 4412 4412 4412 44/
4)3!., Jan 12
Jail
Do pret
47 Noy.
1,115
37 Feb
e6
618
558 578
6
534
6
6
8
6
1.34 Jan 26
l 25
52 454/
524 1,010 Utah-Apex Mining
1
4 Feb
438 Sep
7 Nov
4014 4014
39
3712 38
3714 385' 3212 39
40
2952 Jan
4,303 Utah Consolidated
5 371
/
4 Feb 24 9634 Jan 2
50 Aug-I
4178 4014 41
40
4212 4212
4073 41
3934 40
47 Jan
1,17£ Utah Copper Co
2878 May 53 Nov :
10
25
*434 5
434 434
478 478
412 434
412
538 Feb 16
39
3t,
830 Victoria
434
F
Jaeiib 26
213 Apr
15 Nov
518 5/
1
4
5
5
518 5/
1
4
514 514
518
518
612 Jan 2
600 Winona
5 Jan 18
25
e734 Nov
412 Jan
140 140 2140 143
148
145 145
142
142
65 Wolverine
Feb 1 152 Jan 2 11512 Jan 155 Nov'
140
25
234 234
258 238
213
234 234
2/
1
4 258
33<, Oct
435 Wyandot
212
4 Jan 16 .50 May
238Jan 4
25
C Before payt of assou'ta called n 1909ilia and asked prizes. a Now stock, e Ass't paid. 0 Ea-stook div.
21X-rights. a Ex-div. and tightlr
FEB. 27 1909.]
555
Boston Bond Record.
_
BON Ds
r,.'",.
BOSTON STOCK EXCIPGE t.., ',-,
WEEK ENDING Fats 26
,- 4.
Am Telep & Tel coll tr 48.1029 J.J
Convertible 48.........1936 M.S
Am Writ Paner 1st 8 t Cs g 1919 J.J
Ariz Corn Cop 1st cony 68 1918 M-S
Atcn Top & s Fe gen g 48..1995 A-0
Adjustment g 46
J'ly 1995 Nov
Stamped
J'IY 1995 M-N
50-year cony 48
1955 3.D
10.year cony 5s
1917 J -D
Boston .Elect L consol 58 1924 M.
Boston & Lowell 4s
1916 J -J
Boston so Maine 4128
1944 J.,:
Boston Terminal 1st 3128 1947 F -A
Bur & Mo liav ex 68
1918 ,).j
Non.exempt 68
1918 J.j
Sinking fund 40
1910 j.j
Butte & Boston 1st 68.-1917 A-0
Cedar Rap & M.o B. 1st 78 1916 M-N
2d 78
1909 J.3)
Cent Vermt 1st g 48..Alay1920 Q.F
0 B & Q Iowa Div 1st 56 1919 A-0
Iowa DIY 1st 48
1919 A-0
Debenture 68
1913 M-N
Denver Eaten 48
1922 F-A
Nebraska Exton 4s
1927 M-N
B&SW8f4s
1921 M.S
Illinois Div 3128
1949 J.J
Joint bonds See Ot Northern
Ohio J a Ry & SU( Yds 58.1915 J.J
Coll trust refunding g 491940 A-0
Oh Mll (SI, St P Dub I) 68 1920 J -J
Oh M & St P Wig V div 681920 J - J
Chic & No Midu 1st gu 58.1931 M-N
Chia & W Mich gen 58.-1921 J•ri
Concord & Mont cons 98 1920 J.J)
Conn & Pass li let g 48-1943 A-0
Cons SS L cell tr g 48 ctis 1957 J -J
1927 A-0
Current /Over 1st 5s
Det Or Rap & W 1st 4.3 1946 A-0
Dominion Coal let at 68 1940 1111.14
191'5 M-S
li'itctiburg 48
1927 31-S
48
Fremt Elk & Mo V 1st 613-1033 A-0
1933 A-0
Unstampen 1st Os
Gt Nor 0 B &I Q eon tr 4s 1921 J•J
1921 Q-J
Registered 4s
Price
pridav
Feb 26
Week's
Range r
Last Sale
Range
71,..,t
aince
"
••,,,
0
January 2
all
Rid
High A., tow _High
Ask Low
/
2 106 9134 941
/
2
941
9458 Sale 94
95 387 92 14 95%
947 Sale 9378
117834 Mar'08
6 130 150
130 Salt 130
130
/
2
100% 101 12 10114 Feb'09 .... 100 1011
94
93 Jan '09 ...• 925s 03
94
91 Sep 'Or
102410212
10212Jan'09
10738 Sale 107% 10738 6 107410738
110 17%0'04 ....
101 Sep'06
1044 Oct'08
1124Jan'03
104 Oct'07
102 Sep '05
991
/
2 99;
994Jan'09
100 J'ne'01
117 J'ne'08
11118Ply'05
86
84
864 851
/
2Feb'09 .... 81
11103 Oct'07
100 Dec'Or
100 Apr'08
9958 100
100 Jan '09
1004 Oct'Or .... 0858 985
0858 3
98% Sale 9858
92
02
92 Jan.'09
/
4 1
10210314 1034 1031
1.
94
94 Sale 93
1184 Feb'09
126 Feb'06
/
2 1
10212 Sale 10212 1021
104% 10458 '2
1041
/
2
91 Dee'07
1124Jan'03
16%
1634 12
96 Feb'09
911
/
2Feb'09 ....
01
01 Nov'08
1031
/
2Apt'05
96 Apr'Or
12812Apr'08
140 A.nr'05
984 Sale 978
081
/
2 23
981
/
2
97%
07% 4
102 10314
91
94
1181
/
2 11814
101
10'2
1021
/
2
10478
164 181
/
2
96
06
87
911
/
2
9712 08'4
9738 9778
s
BON Ds
11.2
BOSTON STOCK EXCEPGE t.4-.,
WEEK ENDING FEB 26
-5.,07..
Illinois Steel deben 5s....1910 J.J
Non-convert deben 58...1913 A-0
Itt Falls &Sioux Clst 78..1917 A-0
Kau C Olin 83 Spr 1st 58...1925 A-0
Kan C Ft S& Gull eat 5s..1911 24)
Kan 0 Ft Scott & 31 6s....1928 M-14
Kan C M & 13 gen 4s
1934 M.S
Assented income 58
1934 M.S
Kan C & Al Ry& Br lat 681929 A-0
Maine cent cons let 78...1912 A-0
Cons 1st 48
1912 A-0
Mare Hough & Ont tat 68.1925 A-0
Mexican Central cons 48..1911 J.J
laLCoris Inc 38
Jan 1939 J'ly
2d cone inc .3s
Jan 1939 Ply
31 ich Teleplst 5s
1917 J. J
Minna Gen Elec con g 58 1929 J.J
New Eng Cot Yarn 5s.....1929 F-A
New Eng Teleph 56
1916 A-0
53
1916 A-0
New England cons g 5s. 1945 J-J
Boston Term 1st 4s
1939 A-0
N Y.N II & H con deb 3481956 J -J
Conv deb 6s (ctfs)
1948 J.JOld Colony gold 48
1924 F -A
Oreg By al Nay con g 48..1946 J-D
Oreg Sh Line 1st g 68
1922 F -A
Repub Valley 1st s 1 68...1919 J.J
Rutland 1st con gen 4128.1941 J.J
Rutland-Canadian 1st 481940 J -J
Savannah Elec 1st cons 58.1952 J -J
Seattle Bled lat g 58
1930 F-A
i'erre Haute Elea g os
1929 J -J
Torrington 1st g 58
1918 NI-S
Union Pad RR& 1 gr g 48.1947 J.J
20-year cony 48
1927 J-J
United Fruit c,ony gen 58.1911 Ni-S
U S Coal & Oil 1st at 68-1938 M-N
US Steel Corp 10-60 yr 58.1963 M-N
West End Street Ry 48
1915 F-A
Gold 4las
1914 M-S
Gold debenture 4a
1916 114-N
Gold 48
1917 F-A
Western Teleph & Tel 56.1932 J.J
Wisconsin Cent 1st gen 461949 J-J
Wisconsin Valley lst. 78..1909 J -J
Price
P'ridav
Feb 28
Week's
Range or
Last Sale
t*
Range
a
since
S§
' January 1
:1 1
litoh A 0 tow Bigh
Sid
Ask Low
/
2
100
1001
/
2 Feb'09 .... 10014 1001
1004 Salt 1.004 10014 1. 100181004
117 Apr'o•
9534 Feb'09 .... 95
1.
634
1004Jan'09 .... 1002101
119 Sale 119
11914 4 1164 120
20
03
92 Jan '09
92
Se
1 8615 89
238
89 ....
1031
/
2Jan'09 .... 1034 1004
103's
11314 N'ev'06 ..... ......
10114 Sep'05 .... .......
115 I'ne'OS .... .........-.
118278 Dec'Or
1116 Apr'Or
Apr'0154
10212 Ang'04
1041
/
2 Sale 1044 l04'
102
102 Salt 102
1004 Sep'08
'.. [0215 10418
1 102 102
98-18 Feb'09 .... 98% 99'2
135 Feb'09.... 135 1354
081
/
2.Ply 08 .... ......
119014 J'lv'Or
1194 Feb'09 .... 119'811918
105 liec'Os
..
1071
/
2 No7
'
05
102 Mat'02
981
/
2May'oti
1054 Sale 105% 105%
I 1.054 10534
97 Apr'u I
991.2 Nov'06
1021
/
2 Jan '0!) .... 10214 102%
10214 10214 1 102%102%
116 Jan '021 ....
130 Feb'OJ .... 120 133
1034 Sale 103
1031
/
2 7 10214 10414
961
/
4 Feb'oe
102's Feb'09 . .. 10241024
3958 Dec'us
984 Oct '08
118
9814 Sale
9858 .0 1471
/
2 991
/
2
9378 Feb02 .... 937s 9378
10958
Narg-Buyer pays *Loomed interest in addition to the purchase price tor all Boston Bonds. • No price Friday; latest Ind and asked.
1, 1' at price.
Philadelphia and. Baltimore Stock Exchanges-Stock Record., Daily, Weekly, Yearly
Share Prices-Not Per ()outran Prices
Saturday
Feb 20
•
Monday
heb 22
Tuesday
lel) 23
If'ednesday
Feb 24
*12% 131
/
2
'25
.11 12 10
.46
461
/
2
/
2
354 351
.11% 11 12
2,518
'24
63% 65 '4
18% 19%
101 101%
7,08 714
11zia '2
65
0515
•41 14 42
11% 1134
2678 2714
694 65
46
46
*4634
:33
35
32% 34
/
4 111
.1158 1112 111
/
4
23% 23%
221
/
2 24
62
64
0315 6478
17% 1858 1778 18%
98 10015 084 131.1
70
68
6338
67
178 1%
2
2
631
/
2 64%
63% 65
41
41'e 404 41
114 114
111
/
4 1154
26
2034
26% '26
E19' 8451a 507e 61014
51% 52%
801
/
4 904
PHILADELPII It
Bid
Ask
Stocks
Allegneny Val prof. 55
51. 40
41
American Cement
100
Amer Pipe Mfg
Bell Telephone(Pa) 100 1014 1024
so 46
Cambria Iron
Central Coal & Coke.10
74
Canso'Tree of N J...10
Diamond State Steel 10
Preferred
1(2
aaton Con Electric 5 51
Elea Storage Batt.....100 45.4 46
Preferred
100
100
rt Wayne &NV V
aerinantowil Pass
5
Indianapolis St
100
100
Indiana Union Tr
Insurance Coot N A..10 '253,, '22
Inter Sm Pow & Chem.50
Keystone Telephone -50 12
124
50
Preferred
.KeystoneWatchease.10
10 16 12 16
Lit Brothers
50 574
Little Schuylkill
BeEinehill & Schuyl 11 50
N Haven Iron d's Stee1.5
50 103
Northern Central
North renneylVallia 5
50
Pennsylvania Salt
Pennsylvania sieel..10
100 100',,
Preferred
424
Phila Co(Pitts) pref...50 42
Phil German & Norris 50
50 9314 113:/
1
4
Phlla Traction
8
10
Railways General
Stisqueli Iron 8.5 Steel .5
10
Tidewater Steel
10 ..
Preferred
Tonopah Mining of Noel
Union Tr ot lad
100
United N J lilt &
Unit Trac Pitts pref..50
7,5
'Warwick Iron& Stee1.10
West Jersey & SeaSh.50 49
9515
Westmoreland Coal .5(
Wilkes Gas S. Blec 100
Inactive
..
52
63
8915 81178
46
46
341
/
2 344
1114
11%
23% '234
6434 63%
1838 17%
99% 99%
691, 68%
2
*1%
0414 641
/
4
4034 .41
1.2 11%
26% 264
60,4
611,,
*46
.45
624 5234
521
/
4
8318 8304
89%
*28
46
1334
114
2'2%
1331.4
17%
99
68
178
63%
40%
11%
264
5978
PHILADELPHIA
Bond.
Prices are all "and
interest',
Al Val E. ext 78 1910 A-0
Alt &LVElea 4128'33X-A
Am Rys cony 54 1011.J.D
Atl City 1st beg'19.M-N
13erg&E.13rw 1st 66'21 J.J
Bella() Steel Os 1998.Q-F
Choc& Moist58 1949 J-.J
Ch Ok G gen 58'19 J4
Col St By 1st con 58 1932
Con Trae of NJ 1st 53.'33
It& A let M 58 1920 31-1-7
Elec & Pee Tr stk tr etts
Kg II Gas-L 1st g 68 1928
Indianapolis By 48.1933
Interstate 4s 1943 ..F.A
Lehigh Nay 4'28 '14.Q•J
Rlis 4s g
1914.Q-11
Gen M. 448 g 1924.Q.F
Leh V C let 58 g '33..J-.1
Leh V ext 48 let1948.J-D
2d 78 1910
31-8
Consol 68 1923
J-1)
Annuity (38
J-D
Gen cons 4s 2003.31-N
Leh V Tran con 48'35J-1)
New Con Gas 58 1948 J.D
Newark Pass con 58 1931
NY Ph& Nolat4s'39 J-.1
Income 48 1939...31-N
NoOluoTrac con5s'19.J-J
Penn gen 68 r 1910. Var
Consol 58 r 1919. Var
Penn & Md Steel eon Os.
Pa (5 NY Can 56'39.A-0
Con 48 1039
A.0
Penn Steel 1st 58'17 M-N
People's Tr trcerts 48'43
P Co 1st& col tr 58'49 31-8
Con& coltr 68195131.N
Phil Elea gold trust ctfs
Trust earths 48
P & IC gen MS g'20.A.0
Gen AI 4s g1920-A&O
Bid
Baltimore
Con. Gas EL L. S. Pow
Do prof
157 Northern Central
540 seaboard(new)
200
Do 2d prof
United By & Electric
Lowest
Ask
PHILADELPHIA
Ph & Read 2d 58
Con DI Is 1911
J-D
Ex Imp M 4s g'47 A.-0
Terminal Os g 1941 Q.F
102
P W & B col tr 48'21 J3
Portland By 1st 58 1930.
lined lly& Leon 58'54J4
Spanish-Am hr 68'27 J4
U Trac Intl gen 58'19.J...1
Un Rys Trolls 48'49J &J
United Rys Inv let coil tr
snit 1'320
M-N
U Trite Pit gen 5s'97 J.J
Welabach s 158 1930.J.D
9234 Wlks-B(.,1&E cou5s'55J4
BALTIMORE
Inactive Stocks
87
42% 43's Ala Cons Coal& Iron 100
Prof
100
Atlanta & Charlotte. 100
Allan Coast'.(Conn)100
100
Canton Co
110,4
Cons Cot Duck Corp .50
104
Preferred.....50
Georgia Sou & Fla. 100
1184
100
let prof
2d pref
100
971
/
4 974
100
0.13-8 Brewing
Bonds
Price.* are all"and
interest."
Anacostia & Pot 5s
All & Ch ext 4128 '10,74
Atlan 0 L R.114131952M-3
Atl Coast L(Ct)ctis58 J-D
J-J
110
Otis of indcbt 4s
J-J
5-20 yr 4s 1925
Bait()Pass let 58'11 M.N
Ball Fundg 58.1916 M-N
Exchange 348 1930.'4
07
104
Balt& P
6s m 1'11 A-0
97
U71
/
4 Bait Traolst5s..'29 3/LN
102
No Bait Div 501942 J-D
734 334 Cent'l By con5s11132 31.11
Ext& Imp 58.11332 M-S
Chas CityRy 1st Os'23J-J
835 paid.
Itange /or Previous
Year(1908)
Highest
Highest
lowest
100 32 Jan 27 35 Jan 25 20 Jan
100 77 Feb 16 85 Jan 6 65 Mar
50 100 Jan 4 111 Jan 16 80 Jan
100 114 Feb 21) 15 Jau 4
4 Eel)
100 2234 Feb24 25 4jan
10 Feb
00 934 Feb 3 104Jan 4 10 Jan
Philadelphia
32 American Railways
50 43 Jan 4
46
50 3278 Feb23
35 10,100 Cambria Steel
470 Electric Co of America 10 r1078 Jan 20
1114
234 16,202 Gen Asphalt tr ctts
/
2Jan J
100 161
5,957
64
Do prof tr ctfs
53 Jan 5
109 1434 Jan 5
1834 11,906 Lake Superior Corp
09's 2,161 Letugh C & Nay tr etht 50 96 Jan 5
694 8,712 Lehigh Valley
50 67 b'Pb23
1,195 Marsden Co
2
100 1131e Jan i
04's 2,620 Pennsylvania RR
50 634 Feb24
223 Plilladelp'aCo(Pittsb) 50 404 Feb24
4115
11% 8,052
Ellectriet 25 11 14 Feb23
27% 11,370 Philo Rapid Transit
60 24%Jan 5
61% 29,647 Heading
50 694 Feb23
4'/
Do let pre/
50 45 Jan 6
44
Do 2d plot
50 45% Feb 13
50 51 Jan 5
62% 6,291 Union Traction
1/0
/
2Feb23
6,267 United Gas Impt
50 891
30
Welsbach Co
100 29 Feb 45
Bid and asked; no sales on Ms /lay 13 Ex-rights. II $7.50 paid. t $124 paid. S $134 paid.
Range Since
Jan 1 19o9
Sates
ACTIVE STOCICS
ol the
Week (kbr Bolide and Inactive
Stocks see below)
Shares
.25
32
.76
78
103 1031
/
2 104 104 *10341044
.11 12 12; 11% 124 *12
13
22% 2234 *23
*22
23
*934 10
'94 10
9% 10
'
104 104
.12
14
23
23
34 10
"
63
5338
904 0058
Th,ursday
eb 26
Friday
Feb 26
Bid
Ask
4654 Feb It,
39% Jan 2
1115 Feb 1.;
2554 Fob,
604 ['*1)19
194 Feb 2i./
105 Jan 2,
76% Jan 2
24Jan 12
67,4 Jan 4
4314-Ian '2
12 Jan 21
284Jan 20
7218Jan 4
46 Jan
474 Jan 2
54% Jan 2i
944 wet)
'29
30 Dec
814 Dec
&o2 Deo
16 Dec
26 Dec
12 Nov
42% Mai 4612 Nov
26% Feb 404 Dec
/
4 Deo
8152an 111
1115 Jan 19% Deo
1978Jan 594 Deo
3% Feb 17 Boo
4Jan 97% Dec
78,
52% Feb 76.4 Deo
278 Apr
15i Jan
54,,ie Jan 66/
1
28 Dec
3442 uat 44% Dec
54 601 12% Nov
912 J ne 2515 Dec
46.16 Feb 71113.6 Dec
99 Jan 43 Ls, Dec
374Jan 484 Dec
z44 J'ne 501
/
4 Apr
711'.Jan 9434 Deo
25 J'n 28 Nov
ii,tl,I'Lvithc
Bta
100
31.3
Chas IVO & .E158
Charl C& A ext 68.'09 J4
'20 78
1910 A.()
City& Sub 1st 58..'22 J-D
City & Suh(Was)lat 68'48
Coal S. I By let 68'20E-A
Col &Cirnv 1st66.1916J-J
Coksol Gas 68 191U J-D
58
1939 J-D
(ha S. Ala 1st con 56'45J 4
Ga Car&N lst 5s g'29J-J
Georgia P 1st 68...'22 J-J
GaSo& Fla let 58 1945J-J
11-B-S Brew 3-48 195131.3
2d income 5s 1951 31.14
Knoxv True let 58'28A-0
LakeR El 1st gu5s'4231-S
MaeonRy&LtIst58'53J-J
Memphis bt. let. 63'45 J.J
Mett3t(Wa8h)18t58'251 A
Mt Ver Cot Duck let Os.
N pt N&O P 1st 56'38 31.11
General 58. .1941 bi.s
Norfolk St let 58'44...J.J
North Cent412s 1925 A-0
Series A 58 1'326....J4
Series B 58 1926....J-J
Pitt Un Trao 58 1997.J.J
Polo Val 1st Ss 1941..J4
Say Flit& West58'34 A-0
Seaboard A L 48 1950 A-0
Saab S. Roan 58 1926.J-J
South Bound 1st 5s. A-0
UE1 L&P let 44.1'29 M-N
Un By S. El 1st 43'49 31.8
Income 48 1949
J-D
Funding 68 1936 J.D
Va Mid 20 ser Os'11 M-S
3d series 68 1916 31-S
4th ser 3-4-5s 11121 31.13
5th series be 1926 M.S
Va (State) 38 new'32 J4
Fund debt2.38 1991 J.J
West N C con 66 1914 J4
WesVa C&P let Well J4
Wil & Weld 58-1935.J4
a lieeelpta.
6325 paid. a $30 paid. 434214
10;
120
100
101%
751,
804 81
119
754
80
260 270
00
1.16
5% 61
/
2
20
23
30
35
00
1/5
68
70
2
10334 104
100 1004
964 97
107 108
864 87
87
90
101 1011
/
2
1071
/
2 1081*
1014 1021
/
2
10212
107
11414
108
Ask
85
90
111 112
105
109 1094
105 10514
100 1034
109 110
102 1024
111 1114
103 1034
105 196
114
109 1094
41
42
10
12
1024
110
95
96
111 111%
77% 77%
105 107
105
1124 115
1124 115
110
1024
1144 116
0444 65
108 109
105
94
9412
86
864
5114 51%
7834 79
107
108
108
108
90
92
90
92
107 109
10234 103
114
14%
[VoL. Lxxxvm.
THE CHRONICLE
556
Ilituestinent anti 1ai1road tutellimice.
GHOSS EARNUNGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly return
can be obtainod. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July; but covers some other
The returns of the street railways are brought together separately on a subsequent page.
period
Latest Gross Harnznos.
Week or
Month.
ROADS
Current
Year
Precieus
Year.
Latest Gross Varnings.
July 1 to Latest Date.
C. urrenl
Year.
Previous
Year.
3
6
Ala N 0 & Tex Pac
N 0 & N East-- January __ 296,130 245,390 1,826.945 1,862,499
January -_ 140,331 132.113
954,009
953,890
A's & Vicks
January __ 127.295 123,520
Vicks Sh & Pee
852,404
941,579
December
6.135
4,110
31,932
23,433
Ala Tenn & North
k Atch Top es S Fe_ January -- 7,456,225 7,316,675 54,618,417 50,056,302
48,319
28,484 1,263,240 1,000,904
Atlanta Birm & Atl 2d wk Feb
,535.102 .,296,083 12.225,610 13,136,201
Atlantic uoast Lin December
January __ 5.363,455 5,177,120 42,328,336 48,062,253
Baltimore & Ohio
215,871 171,562 1.3e6,383 1,333,016
13anzord: Aroostoo. December
5,200
JanuaryBellefonte Central
5,463
38,760
42,449
Boston & Miene_. December 3,139,130 3,077,336 10.472,504 21,094,745
Bridgeton & Saco R December..
3,265
31,208
26,778
3,323
3d wk Feb 121,192 128,800 4,60,
,788 5,306,773
Buff Hoch tk, Pitts
Buffalo & :Meg
December
207,742 187,621 1,172,196 1,179,157
Canadian Northern_ 2(1 wk Feb 120,700 116,000 6,401,800 6,113,200
Canadian Pacille
3d wk Feb 1,158,000 1,054,000 48,870,657 48,139,493
Central of Georgia_ 2(1 wk Feb 223,200 219.100 7,333,806 7.666,326
Central ot New er_ December 2,135,883 _212,095 13.079.915 14,644,599
275,904 206,686 1,832,685 1,914,878
Central Vermont_ _r December
Chattanooga South. 2d wit Feb
74,897
1.457
1,301
54,248
Chesapeake & Ohio.. ist wk Feb 410,414 393,893
29,969
Chesterfield & Lane January __
5,743
37,730
4,468
Chicago & Alton Itv 2d wk Feb 265,798 249,732 8,138,866 7,980,291
Chic Burl & Quincy r December.. C,742,322 ,147,968 11,602,595 43,523,006
Chicago Great West id wit Feb 138.602 138,334 5,287,726 5,239,430
90,208
79,732 3,301,013 3,384,280
Chic Ind & Louisv_ 2d vier Feb
Chic Ind & Soutnern
New York Can (rat.
Chic 15:111w & St Paul December.. 4,933,892 1,567,747e.2,507,70C 51,338,632
Chic & North West r January __ 4,656,739 ,393,853 p ,989,868 0,330,567
Chia:t Paul M & 0 December. 1,150,351 ,022.382 7,137,739 7,204,261
572.502
87.999
85.585
604,414
Chic Term Tran RR December..
717,085 592.777 4,249,865 4,611,020
Chi Ham di Dayt_t December
:•;out hem n Hat way.
CIa N o&lexite Pa.
Cincinnati Northern -See New York Cen ,ral.
Clev Clu Chic & St L -See New York Cen tral.
Colorado hildland_r December.. 105,18 100,749 1,229,782 1,207,211
hColorado do South_ 2d wk Feb 207,326 257,641 0,981,59e 9,672,907
141,422
153,191
24,860
28,166
Col Newb & Leer_ December..
354,121
389,112
58,152
59,424
November_
Copper Range
39,817
0,28e
December
Cornwal.
188,615
158,338
12.546
28 378
Cknirevall & Leb__-r December
84.,610
869,331
174,399 149,72._
Cuba It: tir a.
D ecem bet..
December.. 1.564,899 1,511,967 9,610,575 10,751,785
eDelaware de Hutt
Del Lack & West_ December.. 2.783,498 2,701,656 17,226,298 18,138,036
Denver & Rio Gr.... 3d wit Feb 310,700 285,300 13,437,556 14,152,321
23,182 1,032,582 1,136,102
24,266
Det Tol & Irout Sys 2d wk Feb
26,898 1,205,210 1,279,164
26,969
3d wk Feb
Ann Arbor
687,984
757,073
19,695
20,337
Detroit & Mackinac 3d wk Feb
80,102 4,673,826 5,113,205
77,659
Dui & Iron Itang,...r December
1,727,812
2,068,050
51,951
51,054
Feb
wk
3d
Atl
&
Dui Sou Sh
3,417,007
El Paso & So Weeta December.. 632,802
December 4,022,330 ,771,283 26,203,383 27,626,633
Erie
vstem.
S
island
Roc's.
Evansville 45'ler b --See
10,052
9,974
1,812
1,607
Fairchild Fe Nor E. December
397,381
438,682
51,568
56,325
m
Decebe:
Fonea Johns &
1,470,240
1,593,195
247,947
146,489
,
December
Georgia Railroad .._
Georgia South & Fitt -See Soul hem Rail way.
2d wit Feb 631,690 536,683 24,807,079 27,634,762
Grand Trunk Syst
62,977 3,352,463 3.841,733
81,606
1st wIt Feb
Cr Trunk West
19,865 1,023,428 1,166,727
25,515
Det Gr Hay & Mil 1st wIt Feb
23,276 1,131,549 1,337,224
26,824
Canada Atlantic_ 1st wk Feb
Great Northern Syst January __ 2,904,323 3,071,135 33.709,869 37,577,006
989,953 1,192,913
181,263 163,643
Gulf & Ship Island_ December
442,118 438,091 3,458,170 3,718,714
December
Hocking Valley
Illinois Central__ _ _ January __ 4.780,175 4,610,840 34,023,003 36,533,136
Internet & Gt Nor_ 3d wit .Feb 160,000 128,000 5,458,353 4,722,211
a Interoceanle Mex_ 3d vel: Feb 128,560 162,974 4,019,308 4,965,457
51,046 1,893,852 2,037,978
52,918
3d wk Feb
loves Central
December.. 156,097 142,839 1,200,114 1,188,807
Kanawha & 151le
685,530 646,103 5,168,166 5,687,025
Kansas City South_ Jamiary
113,00,,
KG Alex & 0.40e;_ _ ()et°tier _Lake Erie & We,c, -See New York Cen (rm.
Lake :lhore & M :;e1: -See New Yorlc Cen (cal.
January _- 2,540,278 2,639,720 19.562,007 22,225,624
Lehigh Valley
27,962
37,084
Decembet ..
192,780
206,095
Lexington & Er t
December.. Inc. 82. 617
Dec. 40 9,122
Long Island
102,46
C4,183
609,483
570,063
Louisiana & Arks.: _ December
Louisv & Nashville_ 3(1 wk Feb 859,760 782,005 ".9.664,636 30,171,653
10,201
11,791
80,663
94,779
Macon te, Birming'm January __
13,830 397,841 4,330,818 4,724,494
Maine Cental ____r December..
3,198
5,226
29.244
38,032
January _Manietique
26,788
28,381
December
197,033
213.349
Maryland & Penn
4th tvli: Jan 868 973 919,899 18.092,261 21 459.486
a Mexican Central
a Mexican Internat_ 3d wk Feb 130,317 153,697 4,333,229 5,562,966
135,500
153,400 4.122,300 4,940,500
a Mexican Railway _ 1st vek Feb
23,359
24,595
745,500
758,282
a Mexican Southern 1st wit Feb
Michigan Central- See New Y rk Cent. el.
15,788
14,718
536,437
519,879
3d wIt Feb
Mineral Range
68,062
64,254 2.752,440 2,631,020
Minneap de St Lout. 3d wk Feb
P & SS M_ 3d wk Feb 183,633 166,269 8,356,616 7,919,504
Minn
AlLssoeri ICan & Tex December.. 2,208,876 1.920,373 13.792.350 13,301,462
Mo Pao & Iron Mt_o 3d wk Feb 795,000 653,000 29,291,107 29,443,322
19,000 1,113,000 1,017,000
31,000
Central Branch
3d wk Feb
Total system...o 3d wk Feb 826,000 672,000 30,404,107 30,460,322
30,119
23,181
995,421
987,634
bMobile Jac:c & K C Wk Feb 13
010,510 847,716 5,544,266 5,777,369
Nasiv Chatt & St L December.
a Nat flys of Mexico Pd wk Feb 1,013.606 1.043,817 11.266,815 12.665.895
July 1 to latest Date.
Weak; or
Mcnth.
Preview,
urrent
Previcus
Year.
Year.
Year.
Year.
_-$
5,266
4,130
232,934
Nevada-Cal-Oregon 3d wk Feb
222,924
6,352
6,503
41,538
Nevada Central____ Decembe • .
44,151
N Y C & Hud River December.. 1.783,950 7,432,066 48,186,761.
,433,164
Lake Shore & M 8 December.. 3,579,957 :1,303,11 21,624,643 23,363,937
Lake Erie & West December.. 463,861 344,4::3 2,494,121 2,634,400
Chic Ind & South December.. 271.138 250,508 1,106,102 1,504,082
Michigan Central. December. 2,136,071 2.108.720 13.183,205 14,713,117
Cleve C C ec St L.. December 2,305,476 1,067,658 13.605,678 14,008,032
Peoria & Eastern. December.. 262,180 230,450 1,403,689 1,563,426
67,305
86,152
533,845
Cincinnati North_ December..
525,395
Pitte & Lake Erie December.. 925,969 716,04', 0,302,095 7,862;356
December.. 210,120 209,030 1,516,103 1,671.589
Rutland
N Y Chic & St L. Deceniber.. 891,018 868,:243 4,828,828 5,244,648
December.. 188567e8 17512474 115280155 124485051
Total all lines
N Y Ont & Western December.. 634,963 533.428 4,340,200 4,306,225
N Y N Ii & Hart..-r December. 4,355,091 4,172,048 27,050,705 29,496,836
285,414 270,638 1,585,54
December
1.740,562
N Y Susq & West
Norfolk & Western_ December.. 2,376,079 2,:.43,571 14,700,570 17,019,024
December.. 869,540 903,246 5,047,654 7,004,954'
Northern Central
December.. 5,640,601 11 123,262 37,645,176 40,5(58,604
Northern Pacitic
December. 488,795 595.869 3,360,605 4,295,574
Pacific Coast Co
Pennsylvania Co. r December.. 3,205,971 2,863,233 21,675,344 26,451,542
a Penn-East P & E December.. 12264417 11011317'73 276,441 35,671,441
Dec. 7,1 03,300
a West of P & E. December.. Inc. 56 4,800
Pere Marquette__ _r December.. 1,127,990 1,114,071 7,226,288 7,362,010
Phlia Bait & Wash_ December.. 1,414,003 1,360,703 8,404,138 9.155,238
Pitts Gin Chic & StL January __ 2,148,833 2,000,197 16,003,627 18,266,230
tes,u11
8,837
63,146
11,654
Raleigh te southret 14eceumer
Reading Company_ December 3,744,102 3,5(10,098 20,297,43:: 23,385,246
Coal & Iron Co__ December 3,471,324 3,758,440'17,233,128 21,022,000
Total both cos.__ December 7,215,426 7,259,444 17,530,55 44,407,253
992,060
885,087
164.316 143,425
Rich Fred & Pot_ _r December
476,1)88
80.384
452,320
68,720
Rio Grande June... December
396,528
8,524
379,067
7,176
Rio Grande South__ 2d wk Feb
Hock Island System December 5,435,04. 4,915.600 31,878,351 32,132 644
e St L & San Fran December 4,380,14. 3.751,85' 24,802,428 26,3211.463
177,616 165,342 1,129,561 1,225,736
f Evaasv & Ter Il December
Total of all lines_ December 9,902,810 4,832,66(5 5-,370,358 59,087,844
871,507
805,043
Si Jos & Grand Isi _ December.. 129,941) 130,794
St Louis Southwest_ 3d wit Feb 207,043 150,111 7,019,584 6,643.707
San Pod LA & S Li December., 601,136 645,726 3,490,295 4,105,551
Seaboard Air Line- December.. 1.464,500 1,254.960 7,785,678 8,059,362
491,784
479,282
Atlanta & Bimns.. December
64,856
86,458
52,709
54,868
12,441
Florida West Sh_ December
14,528
875,695
617,482
Southern Indiana__ December
87,992 102,104
c Southern Pac Co__ December 10502952 /1073402 62.781.14. 68,396,291
Scuthern Railway__ 2c1 wk Feb 973,524 861,064 33,047,274 34,332,683
Mobile & Ohio..... 3d wk Feb 171,119 145.960 6,065,164 6,423,732
Cin N 0 lc TeX P.. 3d wk Feb 141,548 131,102 4,836,290 5,224,507
54,342 2,242,161 2,389,499
Ala Great South- 2d Wk Feb
61,815
41,755 1,202,372 1,308,287
Georgia Sou & Fla 2d wk Feb
41.708
805,417
773,673
15,152
Texas Central
2d wk Feb
21,054
Texas & Pacific
3d wk Feb 287,934 253,719 9,986,943 10,286,882
36,401
ea,202
7,530
6,955
Tidewater & West_ December..
Toledo do Ohio Cent December.. 275.360 293.739 2,473,168 2,524,406
802,266
701,348
Toledo Peor & West 2d wk Feb
24,562
19.640
78,696 2.155,575 2,629,423
Toledo St L & West 2d wk Feb
64,745
37,731
31,621
3,885
Tombigbee Valley
8,319
December..
Union Pacific Syst_ December 6,582,720 6,530,082 42,640,081 42,919,290
4,592,660
5,180,639
713,621
Vendetta
743,255
r December..
738,372
682,041
73,300
Virginia & Sou West January -- 103,401
Wabash
2d wk Feb 455,230 405,075 18,780,104 17,342,921
3,094,266
3,200,150
469,528
Western Maryland r December
509,315
West Jen & Seash_ December.. 326,674 357,974 3,060,20t, 3,441,406
Wheel & Lake Erie.r December.. 431,232 381,065 3,004,813 3.403.565
426
White Riv(V0_2wk s endieeb13
1.303
Wisconsin Central
3d wk Feb 139,677 125,286 4,843,100 4,945,020
144,553
150,031
23.01C
Wrightsv Fe Tenn
24.778
Ee:cember
Yazoo & Miss Vail_ January __ 932,807 935,570 6,261,963 6,288,288
-- --- -.Current
Previous
Year.
Year.
Period.
Various Fiscal Years.
ROADS.
Bellefonte Central
Jan 1 to Jan
Delaware & Hudson
n 1 to Dee
JJan
ManIstique
Feb
Jan 1 too .n
Mexican Railway
Jan 1 to Feb
Mexican Southern
fan 1 to Dec
New York Central & Ilud River Jan
to Dec
Lake Shore & Mich Southern
Jan 1 to Dec
Lake Erie & Western
Chicago Indiana & Southern. Jan 1 to Dec
Jan 1 to Dec
Michigan Central
fan 1 to Dec
j
Cleve Cln Chic & St Louis
.an 1 to Dec
Peoria & Eastern
Jan 1 to Dec
Cincinnati Northern
1 to Dec
Pittsburgh & Lake Erie
Jan I to Dec
Rutland
New York Chicago & St Louis Jan 1 to Dec
Jan 1 to Deo
Total all lines
Jan 1 to Dec
Northern Central
fan I to Dec
Penn-East a, Pitts & Erie
to Dec
a West of Pittsburgh & Eric_ Jan
Pifer( Baltimore & Washington_ fan S to Dec
Jan 1 to Jan
Pitts Cin Chicago & St Louls
Dec 31 to Dec
Rio Grande Junction
Jan 1 to Feb
Texas & Pacific,
Jan 1 to Dec
West Jersey eG Seashore
$5,290
$5,463
3
31 18,345,766 1. , 4)8.703
3,198
5,226
682,900
878,900
11
37'
137,150
127.430
7
31 88,849,36s 98,369,060
31 39,964,858 44,953.474
31 4,534,789 6,066,940
2 3,004,483
428
900:4
,2:188
31 21
31
28,54..110
31 24,621,061 26,447,804
80.925 3,010,347
064.463
1 2,7
31
3
1.005,108
31 10,397,84. 14,904,400
31 2,744,240 3,058,087
31 9,435.551 10,465.671
31 212112613 238832574
31 11,264,993 13,237,498
31 136296026 16 ,812825
Dec.18,6 73,100
31
31 16,120,572 17.255,572
31 2,148.833 2,000,197
867,455
31
041,371
21 2,067,190 2,008,958
.A 5.224,704 5,654,904
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
1Veeklu Summaries.
1st week Dec
Id week Dec
'd week Deo
lth week Dec
let week Jan
1d week .'an
Id week Jan
Ith week Jan
1St week Feb
d week Feb
(44 roads) ___ _
(41 roads).(46 roa(ts)._
(48 ro,as)____
(43 roads)_.._..
(43 reads)._
(44 reads)._
(43 roads)_.._
(43 roads)____
(4-, roads) ____
Cuent Yea, Frew's Year Inc. or Dec.
3
10,308,69?
10,418.034
11,037,63e
14,887,801
1,588,103
8,981,170
9,258,932
13,228 706
9,730,224
0,523.070
5
10,188.413
9 906.448
40,428,083
13,926.254
8,341.099
8,640,038
8.979,089
12,834.339
8,496,377
8,733.903
5
+140,279
+512,186
+609,533
+961,641
+246,103
+341,132
+279,343
+394,367
+1,233,847
+789,185
%
1.38
517
5.85
6.91
2.95
3.05
3.11
3.07
14.52
9.04
Manthtu Summaries.
Month Apr
Month May
Month June
Month July
Month Aug
Month Sept
Month Oct
Month Nov
Month Dec
Month Jan
:.7ur'nt Year Prey's Year Inc. or Dec.
----e
8
$
5
1908 (119 roads). 154,137,168 190.046,156 -35,903,988 18.89
1908 (120 roads). 153,112,628 198,146,871 -45,034,243 22.67
1008 (113 roads). 146,270,130 170,397,094 -33,126.964 18.47
1908( 97 roads) 156,103,883 183,365,053-27,262,110 14.87
1908 (105 roads). 119,781,772 209,690,782 -29,909.010 16,64
1908 (114 roads). 210,014,059 223,064,045 -13.950,8811 6.25
1003 (119 roads).. 223,931,291 240,652,757 -16,721,466 6.95,
1908 (118 roads). 205,963,343 213,913,648 -7,950.305 3.71
1908 (234 roads)._ 215,251,439 204,470,660 +10,774,779 5.27
J.., 951 ASS 4.76
do 0,1$1.282 47.680 Rin
1000( si reerie)
,a „Steele= zurrency. a Includes earnings 01 Gulf evCilleaT0 Division. c Includes the liouston & Texas Central and its subsidiary lines In both
years. ‘; Covers lines directly operated, e Includes the Chicago & Eastern Illinois In both years. f Includes Evansville & Indiana RR, 1; Includes
earnings of 001. & South. Vt. Worth & Denver City and all affiliated lines, excepting'ninny & Bratos Valley RR. k Includes In both years earnings
a
Santa Fe Prescott &Phoenix By. 1 These figures do not inelude receipts from sale of
Gull tat Pecos Valley System and
of Denver Enid
Fleu;•cs_14;e:: -.re on the old baste of accounting-not the new or Inter•State Commerce Commission method. r These figures are on the new bads
0C•is.Ciodu ey the Inter-State Commerce Commission.
THE CHRONICLE
FEB. 27 1909.1
Latest Gross Earnings by Weeks.-In the table which follows We sum up separately the earnings for the second week
of February. The table covers 44 roads and shows 9.04%
increase in the aggregate over the same week last year.
55'7
STREET RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.
Name of
Road.
Week or
Month.
Current Previou
Year.
Year.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
$
American Rys Co_ _ _ January __ 221,399 209,33
221,399
209,339
c Aur Elgin & Chi By December
109,578 109.596 1,398,930 1,415,992
Bangor By & Elec Co October
41,445 41,025
Alabama Great Southern
61,815
54,342
192,343
Birm By Lt & Power January __ 192,343 177.745
177,745
Atlanta Birmingham & Atlantic
48,319
28,484
122,266
119,365
7,368
Brockton & Ply St By December
7,982
Buffalo Rochester & Pittsburgh
126,147
128,800
7,55i
11,337
7,556
Camaguey
Co
11,337
January
_
_
Canadian Northern
120,700
116,900
247,546
250,065
Cape Breton Eiec Co_ December
21,766 24,80
Canadian Pacific
1,157,000
935,000
57,325
Central Penn T ac_ _ _ January _
52,726
57,325 52,726
Central of Georgia
223,200
219,100
59,644
Chariest Con RyG&E January _ _
61,569
59,644 61,569
Chattanooga Southern
1,457
1,301
922,528
813,275
Chicago Railways Co_ January _ _ 922,528 813,275
Chicago & Alton
265,798
240,732
18,318
Cleve Painesv & East January __
18,331
18,331
18,318
Chicago Great Western
138,602
138,334
Dallas Electric Corp_ December
97,463 1,169,968 1,125,673
108,830
Chicago Indianapolis & Louisv_
79,732
90,208
766,755
686,067
Detroit United Ry
2d wk Feb 116,154 105,210
Cincinnati New On & Texas Pao
141,548
131,102
16,144
Duluth Street Ry
14,767
1st wk Jan
14.767
16.144
Colorado & Southern
297,326
257,641
East St Louis & Sub_ December
172,276 180,575 2,009,514 2,157,442
Denver & Rio Grande
291,600
316,800
506,694
El Paso Eleettic
534,222
December
55,195 50,791
Detroit & Mackinac
19,695
20,337
$01,726
Fair & Clarksb Tr Co.• October_ _ _
322,387
34,655 33,264
Detroit Toledo & Ironton
24,266
23,182
Ft Wayne & Wabash
Ann Arbor
26,969
26,898
Valley Traction Co December
118,751 116,128 1,322,635 1,283,722
Duluth South Shore & Atlantic
47,470
46,827
Galv-Hous Elec Co
December
96,999 87,669 1,088.447 1,050,893
Georgia Southern & Florida
41,755
41,708
944,916
Grand Rapids By Co December
940,645
81,855 74,615
Grand Trunk of Canada
1
Electric
By.
Havana
Wk
Feb
21
294,405
36,991
276,933
34,371
Grand Trunk Western
556,683
75,007
631,690
Tran
Honolulu
Rapid
Detroit Grand Haven & Mil.]
October _ _
& Land Co
34.010 30.207
316.558
301.785
Canada Atlantic
Houghton Co Tr Co.. December
249,919
24,834
265,576
19,740
International & Great Northern
121,000
28,000
149,000
.327,910
352,956
31,354 Illinois Traction Co.. January __ 352,956 327,910
Interoceanle of Mexico
158,511
127,157
38,965 33,243
392,394
430,838
8,574 Jacksonville Elec Co_ December
Iowa Central
56,446
47,872
Kansas City By & Lt December
576,141 512.666 6,274.591 6,030,895
7141,035
60,215
Louisville & Nashville
836,250
48,217 38.505
38.505
48,217
664 Knoxville By & Lt Co January __
149,260
Mexican International
148,596
73,591
Lake Shore Elec By. January __
70,878
70,878
73,591
14,908
311
Mineral Range
15,219
46,098 42,988
566,418
516,355
6,283 Lex & Inter Rys Co.. November
61,319
55,036
Minneapolis & St Louis
59,904 55,680
Little RkMy & El Co January __
59,904
55.680
141,530
37,191
178,721
Minneapolis St Paul OC S S M__ 143,362 133.313 1,627,848 1,604,384
Memphis Street By.. December
685,000 139,000
824,000
Missouri Pacific & Iron Mtn
Metrop West Side El December. 229,192 228.970 2,572,842 2,714,056
22,000
32,000
10,000
Central Branch
359,804 334,392 3,898,539 3,823,382
Milw Elec By & Lt Co December
145,960
25,159
171,119
Mobile & Ohio
62,255 59.498
852,727
826,130
79,530 Nillw Lt Ht & Trac Co December
999,233 1,078,763
National Railways of Mexico
Montreal Street By.. Wk Feb 20 73,425 66,008
507,358
476,629
5,266
4,139
1,127
Nevada-California-Oregon _ _ _ _
149,083 140,147 1,597,030 1,578,207
1,348 Nashville By & Light December
7,176
8,524
Rio Grande Southern
December
38.518
33.236
FyCo
537.768
&
HR
&
NJ
By
482.051
221,698
167,318
54,380
St Louts Southwestern
147,895
North Ohio Tr & Lt_ January __ 147,895 126,125
126,125
073,524
861,964 111,560
Southern Railway
Texas
Elec
Co_
December
97,448
84,346
1,080,577
North
1,080,954
21,054
5,902
15,152
Texas Central
157,439
144,881
Nonf & Portsm Tr Co. January __ 157,439 144,861
267,264
255,373
11,891
Texas & Pacific
173.235
155,607
19,640
24,562
4,922 Northwestern E ev.. _ January __ 173,235 155,607
Toledo Peoria & Western
241,268
240,300
2,801.787
Oakland
Traction
Co
December
2,789.685
78,696
13,951
64,745
Toledo St Louis & Western.._ _ _
16,916
25,103
16,916
Oklahoma City Ry_ _ January __
25,103
446,769
11,623
435,146
Wabash
Portland Ry L & PCo January __ 339,226 340.813
340.813
339,226
6,466
131,014
124,548
Wisconsin Central
Porto
Ribo
33,925
30,818
Rys
CO..
January
__
30,818
33,925
--------9,523,070 8,733,905 939,134 149,969 Rio de Janeiro Tram
Total (44 roads)
Light & Power_ _ _ _ December
618,850 564,208 7.138,234 6,286,200
789,165
Net increase (9.04%)
St Joseph (Mo) By Lt
70,159
Heat & Pow r Co _ _ January
79,435
79,435 70,159
San Fr Oak ec San Jo December
901,110
812,868
75,929 72.019
Paulo Tr Lt & P. January __ 206,251 191,731
191,731
206,251
Net Earnings Monthly to Latest Dates.-The table fol- Sao
602.400
Savannah Electric Co December
595,819
54.002 53.566
lowing shows the gross and net earnings of STEAM railroads Seattle Electric Co... December 415,079 376,806 4,520,489 4,119,725
174,919
South Side Elevated. January __ 172,185 174,919
172.185
reported this week.
11,301
Sou Wisconsin By Co January __
11,857
11,857 11,301
-Gross Earnings- -Net Earnings-- Springf (III) R&L Co December
893.342
863,728
93,958 86.196
Previous
Current
Current
Previous
521,181
552,574
Tampa Electric Co.. December
50,065 45,897
Year.
Year.
Year.
Year.
Toledo Rys & Light_ December
235.974 226.034 2.538.633 2.554,290
$
$
Roads.
$
$
450,412
487,892
Toronto Railway_ _ _ _ Wk Feb 20 69,483 62,721
569,969
641,906
Atch Top & Santa Fe_b_Jan 7,456,225 7,316,675 /2,776,977 j1,960,205 Twin City Rap Tran_ 1st wk Feb 121,153 104,627
July 1 to Jan 31
54,618,417 56,056,302 J21,063,435/16,567,939 Underground El By
of LondonBull Roch & Pittsb_b_ _Jan
120,576
501,785
467,182
135,430
179,410
£69,885
Three tube lines_ _ _ Wk Feb 13 £13,225 111,175
July 1 to Jan 31
4,234,086 4,920,374 1,262,119 1,548,855
153,934
£9,811
£8,757
£59,142
Metropolitan Dist_ Wk Feb 13
def2,207
14,774
£31,732
def2,820
/5.330
Chattanooga South'n_a_Dec
6,979
4,983
£30,809
UnitedilTram ays _ Wk Feb 13
1,623 United RRs of San Fr November_ 574,522 449,732 6,251,865 4,261,829
July 1 to Dec 31
45,030
66,190 def17,071
827,398
__ 829,036 827.398
829,036
_
1,821
1,467 United Rys of St L.January
Chesterfield & Lances_ b_Jan
5,743
4,468
37,353 33,196
354,469
362,252
10,887 Whatcom Co By & Lt December
10,342
July 1 to Jan 31
37.730
29.969
233,651
228,732
519,731
CUmberiand Tel & Tel Co_Jan 533,858
company.
consolidated
for
/bores
are
c These
5,447
4,256
9,961
Demerara Electric Co_ _ _Jan
11,098
16,468
21,216
80.480
88,474
Detroit & Mackinac_ _ _a_Jan
Street Railway Net Earnings.-The following table gives
176,837
132,624
723,592
648,178
July 1 to Jan 31
the returns of STREET railway gross and net earnings
Grand Trunk of Canada644,325 reported this week. A full detailed statement, including all
343,088
Grand Trunk By
Dec 2,591,412 2,746,653
16,462,396 18,313,612 4,673,787 5,121,018
July 1 to Dec 31
be obtained, is given
36,486 roads from which monthly returns can
172.979
459,291
z Grand Trunk West_ _Dec 449,831
665,160 once a month in these columns and the latest statement of
983,127
2,866,326 3,328,396
July 1 to Dec 31
27,986 this kind will be found in the issue of Jan. 30 1909. The next
27,469
183,987
134,794
Det Or hay & Milw_Dee
194,326 will appear in the issue of March 6 1909.
242,335
919,649 1,006,667
July 1 to Dec 31
202,287
234,199
685,530
646,103
Kansas City South'n_b_Jan
,
-Gross Earnings- -Net Earnings
July 1 to Jan 31
5,168,166 5,687,025 1,996,515 1,928,458
Previous
Current
Current
Previous
732,256
830,813
Lehigh Valley-b
Jan 2,540,278 2,639,720
Year.
Year.
Year.
Year.
7,939,124
July 1 to Jan 31
19,562,007 22,125,624 7,116,273
Roads,
3
1,680 Camaguey Co_
526
3,198
5,226
Jan
Manistique- b
Jan
7,556
3,925
11,337
5,350
4,143 Cleve Painesv & East_a_Jan
4,858
x Maryland & Penna_ b _ _Jan
23,755
23,538
8,194
18,3 18
8,463
18.332
88,919
Ju y 1 to Jan 31
220,571
237,106
71,165
Lake Shore Elec Ry_a Jan
24,088
73,591
70,878
28,017
New Jersey & New York_ bMontreal
Street
By
93.109
83,011
Jan
295,453
285,515
23,088
Oct 1 talDec 31
49,494
157,961
151,840
Oct 1 to Jan 31
446,211
470,885
1,230,524 1,188,238
63,579
328,417
111,523
July 1 to Dec 31
331,087
63,185
44,233
58,778 Northern Ohio Trac & Lt_Jan 147,895
126,125
Jan 1 to Dec 31
613,233
552,197
169,931
144,861
64,272
46,240
373,686 Norfolk & Portsm Tr Co_Jan
157,439
Pitts Cin Chic & St L_a_Jan 2,148,833 2,000,197
415,200
3,362
16,916
8,096
n24,115 Oklahoma City By
68,720
80,384
n20,615
Jan
25,103
Rio Grande Junction_ _ _ _Dec
340,813
153,349
167,224
46,718 Portland By Lt & Pow..Jan
200,052
233,708
39,307
339,226
Victor Fuel Co
Jan
379,900 Porto Rico Rys Co
July 1 to Jan 31
1,318,530 1,649,235
266,306
14,493
30,818
17,096
33,925
Jan
14,172 St Joe(Mo) fly Lt lit &P Jan
103,401
Virginia & Southwest_b_Jan
73,390
29,288
70,159
79,435
37.597
32.243
190,260
738,372
278,474
July 1 to Jan 31
682,041
Sao Paulo Tram Lt & P_Jan
191,731
206,251
137,292
128,025
a Net earnings here given are after deducting taxes.
a Net earnings here given are after deducting taxes.
here
given
earnings
are
before
deducting
taxes.
Net
b
b Net earnings here given are before deducting taxes.
The company now includes the earnings of the Denver Enid & Gulf RR.,
Pecos Valley system and Santa Fe Prescott & Phoenix By. in both years.
Interest Charges and Surplus.
For January taxes and rentals amounted to $268,894, against $241,765 in
1908: after deducting which, net for Jan. 1909 was $2,508,083, against
-Int., Rentals,
-Bal. of Net engs.$1.718,441 last year. For period from July 1 to Jan. 31 taxes and rentals
Previous
Current
Previous
Current
were $1,641,789 in 1909, against $1,660,521 in 1908.
Year.
Year.
Year.
Year.
$
Roads.
n These figures represent 30% of gross earnings.
8,112
248
7,974
351
z These figures are on the basis of accounting required by the Inter-State Cleve Painesv & Eastern Jan
Commerce Commission.
34,392
def6,375
30,865
def6,777
Lake Shore Electric By _Jan
30,836
62,273
Jan
Montreal Street fly
31.933
51,075
Interest Charges and Surplus.
357,580
113,305
115,187
331,024
Oct 1 to Jan 31
19,233
43,952
346
43,887
-Bal. of Net E'ngs.- Northern Ohio Tr & Lt_ _Jan
-Int., Rentals, &c.
Previous
Current
Previous
Current
income
z
other
received.
After
allowing
for
Year.
Year.
Year.
Year.
Roads.
$
Cumberland Tel &Tel Co_Jan
38,876
194,775
183,985
44.747
New Jersey & New YorkANNUAL REPORTS.
Oct 1 to Dec 31
51,113
vier 575 zdef26,655
50,742
July 1 to Dec 31
104,559
102,686
x9.881 zdef 38,445
Annual Reports.-The following is an index to all annual
Jan 1 to Dec 31
143,436 zdef19,294 zdef79,388
190,939
8,333
Rio Grande Junction__ Dec
15,782 reports of steam railroads, street railways and miscellaneous
8,333
12,282
19,252
Victor Fuel Co
Jan
x32,854 companies which have been published since Jan. 30:
17,430
x26,697
July 1 to Jan 31
138,509 z183,445 z202,739
123,010
This index, which is given monthly, does not include
Second Week of February.
1909.
x After allowing for other income received.
1908.
Increase. Decrease.
-3
$
7,473
19,835
2,653
3,800
222,000
4,100
156
16,066
268
10,476
10,446
39,685
25,200
642
1,084
71
643
47
reports in to-day's "Chronicle":
558
Page.
RailroadsAtlanta & Birm. Air Line Ry___ ..370
448
Buffalo & Susquehanna Ry
Chicago Terminal Transfer RR_ _501
Cleve. Southw. & Columbus Ry 294
Huntingdon & Broad Top Moun451
tain RIt. & Coal Co
Tnterborough Rapid Transit Co.._371
Maryland & Pennsylvania RR.. 506
370
Seaboard Air Line By
291, 299
Southern Pacific Co
Electric RailwaysCleve. Painesv. & Ash. Elec. RR_374
Cleve. Painesville & Eastern RR_374
Detroit United Rys
448
Dominion Power & Transm. Co....504
Lake Shore Elec. By., Cleveland_371
Met. West Side Elev. RR., Chic_449
N. Y. & Queens County Ry_ _ _ -375
Northern Ohio Trac. & Light Co_291
Ottawa (Canada) Electric By__ -376
South Side Elev. RR., Chicago_ -371
Toledo Railways & Light Co_ -449
453
Toronto (Canada) Ry
United Power & Transport'n Co-376
United Railways Co. of St. Louis.501
508
West Penn Railways
Winnipeg Electric Street Ry_ _ _ _508
IndustrialsAmerican Can Co
373
American Dist. Teleg. Co., N.J 376
292
American Graphophone Co
American Real Estate Co., New
293
York (balance sheet)
American Sewer Pipe Co.(balance
293
sheet)
American Smelting & Ref. Co
449
Bell Teleph. Co. of Pennsylvania_377
(J. G.) Brill Co., Philadelphia_ _508
Central District & Printing Telegraph, Pittsburgh
453
Chicago Junction Railways &
454
Union Stock Yards Co
Chicago Pneumatic Tool Co
501
Chicago Telephone Co
454
Consol. Cotton Duck Co., Balto_501
Consol. Power & Light Co. of
South Dakota, Deadwood,S.D.503
Cumberland (Bell) Telephone &
Telegraph Co
454
Consolidated Gas Co., N. Y_292
Denver Gas & Electric Co
378
Eastern Steamship Co
509
Industrials-(Concl.)Page.
E. I. du Pont de Nemours Powder
Co., Wilmington, Del. (statement of Jan. 1 1909)
501
General Chemical Co
372
Guggenheim Explor. Co., N. Y....450
Hudson River (Bell) Telephone
Co., Albany, N. Y
509
Illinois Brick Co
373
Kansas City Breweries
297
Kansas City Stock Yards of Mo....373
Keystone Telephone Co. of Philadelphia (6 months)
454
Knickerbocker Ice Co., Chicago_450
Lehigh Coal & Navigation Co.. 509
Mackay Companies, New York_ _502
Mfrs. Light & Heat Co., Pittsb_503
Marsden Company
380
Maryland Coal Co
509
Mexican Light & Pow. Co., Ltd_292
National Biscuit Co
502
N. Y. F6 N. J. Telephone Co_
380
North American Co
292
Pacific Teleph. & Teleg. Co
509
Penman Limited
509
People's Gas Lt. & Coke Co., Chic.450
Pittsburgh Plate Glass Co
381
Pressed Steel Car Co
502
Providence Telephone Co _____ _ _509
Republic Iron & Steel Co., Pittsburgh, Pa. (6 months)
372
Richelieu & Ontario Navigation
Co., Montreal
381
Sears, Roebuck & Co., Chicago
(6 months)
292
Shawinigan Water & Power Co.,
Montreal
454
Southern New Eng. Teleph. Co....298
Standard 011 Co. of N. J. (List of
Companies Controlled-Independent Companies)
372
Union Natural Gas Corporation
Pittsburgh, Pa
455
Union Switch & Signal Co
509
United Cigar Mfrs. Co., N. Y_ _ _ _373
United States Bobbin & Shuttle
Co. (balance sheet July 31) 372
U. S. Reduction & Refining Co.. 455
United States Steel Corporation_ _201
Warwick Iron & Steel Co
383
Wichita (Kan.) Natural Gas Co_ ..455
Wilkes-Barre (Pa.) Gas &Elec.Co.510
Yukon Gold (Letter from Pres.) _450
utr.
Delaware Lackawanna 83 Western Railroad.
(Report for Fiscal Year ending Dec. 31 1908.).
President W. H. Truesdale says in brief:
Earnings.-The gross earnings for the year from all sources, except the
transportation of coal, show marked decreases as compared with the preceding year. The total of these decreases is not, however, as large as appears on the face of the figures, which are somewhat misleading, owing
chiefly to the change in accounting made July 1 1907 to conform to the requirements of the Inter-State Commerce Commission. The report for
1907 included in its figures of miscellaneous earnings the receipts from
various outside operations (aggregating $1,890,975) which during 1908
were handled in subsidiary accounts, only the net results being embraced
in this report.
The increase in revenue derived from the transportation of coal was not
due to a larger total tonnage-the tonnage, in fact, being slightly lessbut in part to the change in accounting and to the further fact that a
larger proportion of the total tonnage was moved to terminal points west
and north, where the haul was longer and the earnings per ton larger.
The coal moving to tidewater markets earns about 25% less per ton than
that moving to Western and Northern markets.
The reduction of $2,385,799 in the earnings from transportation of merchandise freight was in part due to the change in accounting but to
a greater extent to the general business depression. The decrease of $308,563 in passenger earnings was due largely to the change in accounting
methods. The falling off in mail earnings was occasioned by the action of
Congress in arbitrarily reducing the compensation allowed for the transportation of United States malls. This reduction was most unjust.
There is evidence that a revival of business activities generally is well
under way, and, while seemingly slow in rattily directions, it is undoubtedly
gaining strength and headway steadily.
Operating Expenses.-The new accounting methods make it impossible
to show accurately the cost of maintenance and operation for the year 1908
in comparison with the previous year. The change in the method of treating outside operations and the separation of traffic expenses from transportation expenses accounts for about $1,900,000 of the total decrease
shown in cost of conducting transportation. Moreover, of the expenditures for the year 1908, aggregating $2,781,603, which under the new system of accounting were chargeable to account of additions and betterments,
$1,172,121, under the practice of previous years would have been charged
o operating expenses for maintenance of way and structures.
The properties are in better condition than ever before. 13.372 tons of
new steel rails were laid, being 672 tons more than in 1907; 681,144 crossties were used, or 6,841 less than in 1907. Ballasting with stone on the
main line east of Scranton, and between Buffalo and Groveiand, has been
pushed vigorously, 41 miles of double main track having been fully balMsted. In addition a large amount of gravel ballast was used on other
portions of the system.
The total expenditure during the past year for maintenance of way and
structures equals about $4,350 per mile of road owned and operated, certainly liberal for a year of great business depression.
The cost of renewals and repairs of equipment was about $1,000,000
more than in 1907. This is more than accounted for by the charge for
depreciation of equipment, which was required under the new accounting
system. The actual amount charged for depreciation of locomotives and
cars was $1,190.205. This sum was credited on the books to account of
replacement of equipment. There were further credits to this account.
aggregating $167,732. The cost of all new engines and cars purchased
or built during the year. including 49 locomotives, 26 passenger cars, 10
milk cars, 100 refrigerator cars and 300 steel hopper cars,in total $1,266,549,
was charged against this account.
Additions and Betterments.-The new passenger station and office building at Scranton was completed about the close of the year and put into
service. Satisfactory progress was made in the construction of the new
locomotive shops at Scranton, but it will probably be late in 1910 before
the plant is completed. Further progress was made in equipping the line
with interlocking plants and block signaling appliances. Important track
elevation work at Buffalo was completed, and in connection with same
additional valtable terminal facilities were provided. Large expenditures
Were made upon the company's dock and wharf property in Hoboken, including the construction of new piers 7 and 8.
Large expenditures were also made in the construction of new telephone
lines for the exclusive use of the company in dispatching its trains and
transacting its general business by telephone instead of by telegraph, as
heretofore. At the close of the year the company's principal lines were
covered by one or more telephone circuits.
Between Moscow and Pocono Summit there were completed and put
in operation about 12 miles of third track, and the balance under construction will be in service by June 1909, at which time a stretch of 31 miles, from
Scranton to Pocono Summit, will be in service, greatly facilitating the
heavy movement of coal and other traffic from Scranton eastward. Further important work of this kind is in contemplation on the easterly side
of the Pocono Mountains.
Bergen Hill Tunnel.-The second tunnel through Bergen Hill, just west
of Hoboken, it is expected will be (was) completed about the middle of
February (V. 88, p. 504), greatly facilitating the movement of the company's large and increasing suburban passenger traffic. The tost of the
tunnel has been charged to the construction account of the Morris & Essex
Railroad Company.
[VOL. Lxxxvni.
THE CHRONICLE
The Lackawanna RI?. Co. of New Jersey.-Early in the year 1908 a company of this name was organized to build the new cut-off line between
Slateford, Pa., and Port Morris, N. J. Construction is now being pushed
vigorously. The work is expensive, the line being located in a semimountainous country. It will require about three years to complete It,
and the cost will be between $8,000,000 and $9,000,000. It will, by
shortening the main line, decreasing grades and eliminating curvature.
enable the company to handle its large and increasing traffic so much more
promptly and economically as to justify the large expenditure involved
No plan has as yet been decided upon for permanently financing the cost
of this line. Thus far all the funds necessary for its purposes have been
advanced from the surplus of this company.
Coal Department.-The results of the operations of the coal department
during the past year, while not equaling those of the preceding one, are
nevertheless gratifying, in view of the widespread industrial depression.
The total tons of coal sold were less by over 700,000 tons than during 1907.
and as the tonnage produced and bought was substantially the same as in
the preceding year, the decrease in sales is represented by the larger stocks
of coal on hand. The prices of anthracite coal established in 1902 have
been generally well maintained in all markets throughout the year.
The accumulation of stocks of coal, which is general with all the companies interested, is not considered alarming in view of the fact that on
March 31 the existing arrangement with the mine employees, under which
wages were fixed in 1906, will expire by limitation, and there is a possibility
that, as in 1906, the miners may suspend work pending the outcome of
future negotiations. The demands of the labor organization are for the
most part the same as were urged before the Anthracite Strike Commission.
in 1902, and were, after full hearing, dented by it as being unjust and unreasonable.
The important question of whether this company, in common with others
similarly situated, may continue to own and operate coal properties, and
mine, purchase, transport and sell coal in the future as it has during the
past fifty years, although forbidden to do so by the so-called "Commodity
Clause" of the Inter-State Commerce Law, is now pending.before the United
States Supreme Court on appeal taken and argued recently from a decree
of the United States Circuit Court of Appeals, which, in a case brought by
the Government to test the legality of the Act, confirmed the right to the
company to continue its coal business as heretofore. It is confidently
expected that the Supreme Court will affirm this decision.
STATISTICS OF OPERATIONS.
Note.-Owing to changes in method of accounting, comparisons of some
of the operating statistics and items in the income account with previous
years are inaccurate.
1906.
1905.
1907.
1908.
957
957
957
957
Road operated Dec. 31_
Earns, per freight train
$3.21
$3.41
mile, all freight
$3.60
$3.53
Earn, per pass. train mile
$1.16
$1.40
incl. mall,exp.&milk_
$1.42
$1.40
Average train-load (rev461.08
465.81
enue) tons
484.06
490.20
Coal Traffic9,168,974
8,582,380
Tons (gross) carried
8,902,733
9.425,498
Tons carried 1 mlle
1689942333 1693486758 1477181981 1605768019
Rate per ton per mile
0.861 cts.
0.848 cts.
Merchandise Traffic8,166.765
Tons (net) carried
9,512,887
8,228,094 10,525,561
Tons carried 1 mile
1391118177 1794360642 1501815856 1340801210
0.688 cts.
Rate per ton per mile_
0.708 cts.
0.689 cts.
0.682 cts.
Passenger TrafficPassengers carried
23,666,228 23,223,663 21,532,943 19,378,522
Pass. carried 1 mile_ _469,227,303 470,815,860 429,086,560 387,589,753
1.427 cts.
Rate per pass. per mile_ 1.374 cts.
1.449 cts.
1.435 cts.
EARNINGS,EXPENSES AND CHARGES.
1905.
1906.
1907.
1008.
$
Revenue from$
$
$
Coal
14,558,702 14,361,418 12,002,851 13,993,585
9,230,787
Miscellaneous freight
9,850,008 12,235,808 10,342,423
5,529,002
6,216,624
Passengers
6,757,596
6,449,032
3,197,690
3,500,981
Mail, express and misc
3.909,653
a2,040,753
37,284,473
32,962,879
31,951,064
4,074,888
3,343,396
3,731,082
4,747,700
569,398 12,254,278
9,312,694 J
579,491
650,516
4,937,771
2,909,335
10,503,943
4,640,208
2,871,911
9,816,196
548,392
499,660
18,623,654
14,274,841
6155,898
21,539,739
15,724,734
(a)
18,890,442
14,063,438
(a)
17,827,975
14,123,089
(a)
14,430,739
1,180,800
15,724,734
1,349,700
14,083,938
1,573,000
14,123,089
1,000,085
13,249,939
Net, after taxes
Add355,543
Interest on investments_
467,887
Dividends on stocks_ __ _
Coal dept. earnings..• _ _ _ 4,166,793
138,659
Int., discount Fc exch'ge
Hire of equip.,rents.,&c.c 551,369
14,375,034
12,490,438
13,123,004
395,943'
414,107
4,224,921
130,184
291,598
434,126
3,655,119
118,531
213,847
328,047
3,295,428
101,643
18,930,191
Total
DeductInterest on bonds
Rentals leased lines.._ _ _ 5,160,140
Acc'ts charged off, &c._
Rentals N. Y. terminals
291,323
Rentals joint facilities_ _
Renewals and betterm'ts
(see remarks above)_ _ 2,781,003
2,620,000
Dividends (10%)
Extra dividend (10%)... 2,620,000
19,540.189
16,989,812
17,061,967
141,792
5,168,166
175,786
145,030
209,480
5,158,716
99.382
143,544
210,698
5,128,709
53,238
143,408
3,820,088
2,620,000
2,620,000
5,551,619
2,620,000
2,620,000
3,587,488
2,620,000
2,620,000
13,473,066
5,457,125
14,690,862
4,849,327
16,402,741
587,071
14.363,538
2,698,429
Total
ExpensesMaintenance of way, &c.
Maint. of equipment
Traffic expenses
Transportation expenses
General
32,898,495
Total
Net revenue
Net rev, outside oper
Total net revenue..
Taxes
Total
Balance, surplus
• Results of coal department were:
1907.
1906.
1905.
1908.
$41,487,555 $42,184,935 $38,564,171 $41,226,647
37,320,762 37,960,014 34,909,052 37,931,222
Earnings
Expenses
$4,166,793 $4,224,921 $3,655,119 $3,295,425
Profit
a "Miscellaneous" revenue from operations in years prior to 1907-08
includes some items now shown under "outside operations."
b Net revenue from outside operations as above in 1907-08 was derived
as follows: Operating revenues, $2,725,184, less expenses, $2,569,286,
leaving $155,898.
c Includes: Hire of equipment, $296,703; miscellaneous rentals, $149,519; miscellaneous income, $88,715; sundry credits from adjustment of
suspense account, $16,432.
CONDENSED BALANCE SHEET DEC. 31.
1907.
1906.
19.
08
8
1905.
$
$
Assets$
9:822051 17,816,883 17,773,689 17,502,455
13
Cost of road
00
18
7:9
8,019,201
8,010,201
Cost of equipment
8,019,201
4,684,130
4,085,170
3,022,547
Other perm. investments
3,735,094
8,786,176
0,241,184
Stocks in treasury
8,532,661
8,434,321
9,473,417
9,031,417
Bonds in treasury
7,344,397
9,659,153
Advances to leased and
4,100,179
2,489,257
controlled roads
1,857,093
2,118,385
3,302,138
1,888,646
2,455,602
Coal on hand
1,814,215
32:220851:488674
2,577,165
hfaterial, fuel, &c
2,503,081
1,589.395
3
,181,021
Cash
2,324,314
5,010,631
141,580
123,550
127,310
receivable
Agents,conductors,cos.,
913,684
217
51, 81
1,834,278
individuals, he
2
1,2
182
1,871,361
Coal bills and sundry ac3,276,100
3,372,147
counts duo
3,149,304
3,722,251
18,087
113.612
Miscellaneous accounts..
Total
08,090,097
63,841,148
61,488,169
60,279,612
THE
FEB. 27 1909.1
1008.
Liabilities$
26,200,000
Capital stock
Consol. mortgage bonds
Rents accr'd, not due_ _ _ 1,651,728
Int. accrued, not due
61,776
Past-due dividends, &c_
Dividend payable in Jan
655,000
Audited vouchers
1,985,330
1,491,328
Audited pay-rolls
Taxes, not due
1,186,727
Companies & individuals
Mortgages on real estate
86,074
Suspense account
41,366
Replacem't of equip.res_
91,772
Profit and loss surplus__ 34,638,996
Total
-V. 88. p. 504.
68.090,097
1007.
$
26,200,000
15,000
1,639,699
66,372
655,000
1,900,189
1,563,222
1,735,938
650,597
86,074
84,145
1905.
1906.
$
$
26,200,000 26,200,000
3,067,000
3,067,000
1,531,268
1,534,184
69,487
68,390
158,550
156,037
655,000
655,000
1,766,828
2,457,080
1,379,546
1,438,250
543,861
1,170,888
1,037,486
191,228
62,074
86,073
68,452
29,244,912
24,395,584
23,808,513
63,841,148
61,488,169
60,279,612
Northern Central Railway.
(Report for Fiscal Year ending Dec. 31 1908.)
On subsequent pages are given the report of President
James McCrea, with the detailed balance sheet and income
account. Below we compare the results for 1908 with those
of several years previous.
OPERATIONS. EARNINGS AND EXPENSES.
1905.
1906.
1908.
1907.
462
462
Road operated (miles) _ _
462
460
Operations4,447,637
4,838,223
5,117,006
Passengers carried, No.. 4,498,258
Passengers carried 1 mile 98,411,961 107,811,570 98,886,259 88,840,460
2.073 cts.
2.092 cts.
1.991 cts.
Rate per pass. per mile.. 1.997 cts.
Freight (tons) carried__ 20,226,288 25,053,553 21,691,525 19,431,721
Freight (tons) 1 mile....1392230374 1738093133 1463108230 126618924
Rate per ton per mile___ 0.622 cts.
0.603 cts.
0.621 cts. • 0.647 cts.
430.37
Train-loan (tons)
467.16
511.80
486.38
$2.784
Earns. per fr't train mile
$3.081
$2.901
$3.028
$1.070
Earns. per pass. train m.
$1.122
$1.159
$1.117
$22,793
Gross earnings per mile_
$24,401
$28,753
$25,176
$
Earnings$
$
1,858,242
Passengers
2,008,375
2,158,025
2,050,222
8,191,900
Freight
8,668,609 10,482,865
9,085,621
481,820
Mall, express and misc._
588,002
596,608
496,790
Gross earnings
11,264,986
ExpensesMaint. of way, itc
944,684
Maint. of equipment
2,228,343
Traffic expenses
152,773
Transportation
_ _ 5,152,000
General expenses
237,491
13,237,498
11,632,633
10,531,962
1,579,271
2,727,625
162,932
5,887,348
212,846
8,978,378
8,470,566
Total operating exp_
P. 0. of exp. to earns_ - _
Taxes No. Cent. Ry
Taxes leased lines
8,715,291
(77.37)
278,482
42,292
10,570,023
(79.85)
270,4661
38,144J
8,978,378
(77.18)
268,913
8.470,566
(80.43)
211,282
2,228,920
2,358,865
2,385,341
1,850,114
Net earns, over taxes_
INCOME ACCOUNT.
1908.
Receipt
Net earnings
Rents and other receipts
1907.
1906.
1905,
2,228,920
1,247,049
2,358,865
1,247,425
2,385,341
1,151,602
1,850,114
1,157,418
Total income
3,475,969
DisbursementsRent leased lines, &c_ _ _
430,561
Interest on bonded debt
347,315
1,547,400
Dividends (8 %)
Equip.-Int. and rents.
306,413
59,382
Principal of car trusts_.
Adv. to Elmira & Lake
Ontario RR
24,715
Misc, interest, doc
7,367
Extraordinary
600,000
3,606,290
3,536,943
3,007,532
401,759
347,315
1,547,214
164,690
59,382
436,516
347,315
1,375,468
20,962
10,226
368,998
347,315
1,375,468
6,332
10,226
50,898
7,435
500,000
16,362
1,100,582
39,564
6,531
827,721
Total disbursements
Balance, surplus
3,078,693
527,597
3,307,432
229,511
2,982,158
25,374
3,323,152
152,817
BALANCE SHEET DECEMBER 31.
1908.
1907.
1906.
Assets$
$
Cost of road, equip.,&c. 20,981,362 20,981,382 20,981,362
6,775,569
6,633,569
Bonds and stocks owned 7,328,672
741,192
1,043,252
471,123
Materials and supplies__
302,181
713,254
673,715
Due from agents
371,676
316,371
245,322
Do indiv'Is & cos
2,613,366
630,750
1,914,140
Bills receivable,
58,611
61,640
Net traffic balances..._
739,256
662,580
2,330,937
Cash
569,841
536,841
520,000
Depreciation fund
1,710
2,419
1,710
Miscellaneous
20,981,362
6,765,219
394,847
689,842
240,457
14,550
72,570
975,762
536,841
2,419
1905.
Total assets
33,153,175
LiabilitiesCapital stock
19,342,550
Stock dividend
Bonds (see "Ry." sec.). 6,822,000
Mtges. and ground rents
124,827
Interest accrued
123,891
Vouchers and pay-rolls_
752,494
Dividends
773,700
Extr'y expend. fund...
908,741
Depreciation fund
520,367
Duo 0th. cos. and mist)...
958,233
Profit and loss
2,826,372
33,867,897
32,182,711
30,673,870
19,342,569
17,193,400
6,822,000
125,177
123,890
1,632,713
773,638
793,777
570,639
1,239,968
2,443,526
17,193,400
2,149,160
6,822,000
120,529
123,891
1,150,654
687,734
700,000
545,456
829,410
1,860,468
Total liabilities
33,153,175
-v. 86, p. 475, 485, 544.
33,867,897
32,182,711
30,673,870
6,822,000
109,872
123,891
968,930
687,734
250,000
537,249
409,440
3,571,353
Capital Traction Co., Washington, D. 0.
(Report for Fiscal Year ending Dec. 31 1908.)
President George E. Hamilton, Washington, D. C.,
Jan. 13 1909, says:
The re-building of the Chevy Chase line was entered upon in Sept. 1908
and will be completed by July 1909.
On May 23 1008 an Act was passed by Congress authorizing the extension
of street railway lines to the Union Station. requiring the company to
make certain extensions in the eastern section of the city, and giving to
the Inter-State Commerce Commission the power to compel all street
railway companies in the District of Columbia to supply and operate a
suf icient number of cars in good repair. Under this Act the approaches
to the Union Station to be constructed and operated jointly by the several
companies are now nearly completed. The Capital Traction extension
from Florida Ave. and 7th St., N. W., by way of New Jersey Ave. to the
Union Station, will, it is expected, be in operation by March 1 1009. The
eastern extensions on Florida Ave. from New Jersey Ave., N. W., to
8th St., east. on 8th St. east southwardly to Pennsylvania Ave. and on
St. from 8th St. east westwardly to the Union Station, will be begun
March 1 1909.
559
CHRONICLE
Of the 66 new cars ordered for delivery during 1909, 39 are of the "payas-you-enter" type for urban service, 15 are of the "pay-within" type for
the Chevy Chase line; the 12 double-truck semi-convertible cars already
received and in use on the 14th St. line, will, it is expected, be equipped
with "pay-as-you-enter" appliances.
1905.
1907.
1906.
1908.
5,189,518
Car mileage
5,634,095
5,373,064
5,986,125
Revenue passengers, No_42,680,221 40,987,980 39,649,442
Transfer passengers, No_15,331,824 15,311,445 14,499,160
Gross earnings
$1,831,810 $1,764,345 $1,708,463 $1,636,327
Operating Expenses$38,454
$48,675
$35,839
Maintenance of way, &c.. $41,789
78,066
97,797
Maintenance ofequipm't_
93,340
97,057
84,106
118,791
90,501
Operation of power plant 111,852
Car service
358,988
385,749
372,269
404,025
120,931
General expense
163,911
122,572
138,419
Total oper. expenses__ $793,141
P.c. of exp. to earnings__
(43.29)
Net earns,from operation$1,038,669
Income from advertising.
rents, &c
24,164
$814,923
(46.19)
$949,422
22,163
18,591
20,332
Total net income
DeductTaxes
Tax for special police.
Interest
Renewals
Dividends (6%)
$971,585
$1,012,533
$976,114
$1,062,833
1
$94,830
J
126,000
70,117
720,000
Total
Balance
$1,010,947
$51,886
J$78,1101
10,4481
91,500
1
$714,521
(41.82)
$993,942
$86,793
43,200
$680.545
(41.69)
$955,782
J$72,223
10,449
42,262
1
720,000
720,000
720,000
$900,058
$71,527
$849,993
$162,540
$844,934
$131,180
BALANCE SHEET JANUARY 1.
1909.
1909.
1908.
1908.
Assets$
$
$
$
LiabilitiesConstruction
8,306,636 8,070,682 Capital stock
12,000,000 12,000,000
Equipment
4,714,566 4,548,575 Bonds
2,520,000 2,520,000
Real estate
1,921.242 1,843,747 Bills payable
533,000
16,131
Am.taxes, insur.,
Tickets
55,384
58,900
59,308
int., &e., reserve
Accrued taxes, inInsurance reserve_
128,000
121,000 surance, interest,
Cash
112,244
120,282
&e
59,308
Bills receivable_
16,131 Profit and loss.... 180,788
128,902
Exetesion account 110,000
Total
15,351,996 14,720,417
-V.86, p. 476:
Total
15,351,996 14,720,417
Pittsburgh & Lake Erie RR.
(Report for Fiscal Year ending Dec. 311908.)
President William H. Newman says in substance:
Stock.-The capital stock outstanding is $10,000,000; total authorized
but not issued, $20,000,000. A resolution was passed Nov. 4 1908 providing for the issue to the stockholders, at par, of $5,000,000 of the balance
of capital stock authorized but unissued. The new capital stock will be
entitled to all dividends declared subsequent to the one payable Feb. 1
1909 (V. 87, p. 1301).
General Results.-The gross earnings were $10,397,843, a decrease as
compared with the previous year of $4,506,557. The freight earnings were
$8,962,172, a decrease of $4,343,680. due to the depressed conditions of
trade. Passenger earnings were *1,253,548, a decrease of $154,446, showing a falling off in commutation and inter-line business, as well as a decided
loss in revenue on account of the operation of the 2-cent fare law in both
the States of Ohio and Pennsylvania.
Construction.-There was expended for new construction and for addi tional equipment, and charged against income, $2,743,906, as follows:
$167,016 New bridges
$486,685
Rights of way
76,125
158,449 Brownsville branch
New sidings
102,422 New freight cars
1,608.579
2d, 3d and 4th tracks
44,109
New depots and buildings__ 100,521 Miscellaneous
As to new rolling stock, Vice-Pres. J. M.Schoonmaker says:
There were purchased 1,000 low-side steel gondola cars, 400 steel coke
cars and one pile-driver, and 109 cars of all classes were sold or destroyed,
Increasing the freight equipment 1,292 cars. Two passenger locomotives
and one switching locomotive were sold. Contracts for five passenger locomotives, 1,500 steel coke cars and 500 steel hopper cars have been executed
for 1909 delivery.
RESULTS FOR CALENDAR YEARS.
Tons Carried1905.
1908.
1907.
1906.
Earning revenue
19,215,998 27,796,080 28,271,969 24,900,574
Company's freight
1,092,434
1,456,455
1,194,154
1,306,584
Total tons
20,522,582 29,252,535 29,466,123 25,993,008
Carried one mile
1252909802 1808467643 1896158559 1635970184
Co.'s freight 1 mile... _ 40,383,158 52,129,336 46,396,038 47,574,327
Total carried 1 mile .1293292960 1860596979 1942554597 1683 544511
9,518,136
Bituminous coal
7,911,266 10,478,649 11,402,315
4.811,236
3,074,672
5,014,854
4,656,229
Coke
3,675,406
3,968,452
3,461,555
Ores
2,497,216
Stone, sand, &c
1,924,032
2,003,612
1,591,331
1,334,353
MiscellaneousPassengers carried
3,546,736
3,005,349
2,575,515
3,269,038
Passengers 1 mile
67,356,268 73,795,258 66,877,636 58,228.638
Fr't earns, per ton p. mile] 0.705 cts.
0.728 cts.
0.681 cts.
0.700 cts.
Ton load (revenue)
1,147
1,058
1,132
1,076
Ton load (all)
1,107
1.175
1,092
1,164
Earns, per pass. p. mile_
1.84 cts.
1.74 cts.
1.80 cts.
1.81 cts.
Gross earns, per mile__ _
$76,510
$67,825
$54,907
$78,499
Miles operated
EarningsFreight traffic
Passenger traffic
Express traffic
Transmission of mails
Rentals
Miscellaneous sources
EARNINGS. CHARGES, &c.
1908.
1906.
1907.
191
191
190
$
$
$
8,962,172 13,305,852 13,051,880
1,253,548
1,407,994
1,287,565
74,943
80,053
63,027
32,859
33,322
32,747
39,164
32,716
33,460
43,587
36,607
12,242
1905.
190
$
11,576,738
1,137,818
52,819
30,147
29,753
10,461
Totals
10,397,843
ExpensesMaintenance of way, &c. 1,363,052
equipment
968,054
Maint. of
Conducting transport'n_ 2,825,279
258,712
General expenses
1,135.327
New construction
1,608,579
New equipment
14,904,401
14,481,495
12,837.736
1,576,456
1,600,515
3,545,825
261,459
2,325,486
2,217,686
1,364,823
1,262,722
3,394,140
238,887
2,309,609
2,623,807
1.333.963
1,276,144
2,777.735
189,075
2,404,884
1,905,823
Total expenses
P. c. of exp. to earnings_
Net earnings
Interest on loans, &c..-
8,159,003
(78.47)
2,238,840
50,928
11,527,427
(77.34)
3,376,973
86,934
11,193,988
(77.30)
3,287,507
89,021
9,887,624
(77.02)
2,950,112
68,446
Total net income
DeductInterest on bonds
Rentals leased lines... _
Taxes and miscellaneous
Use joint facilities
2,289,768
3,463,907
3,376,529
3,018,558
220,000
517,591
204,340
7,944
220,000
516,529
218,991
8,045
220,000
481,615
181,915
7,975
221,125
478,661
170,622
5,222
Totals
Net income
Dividends
Per cent
949,875
1.339,893
1.000,000
(10%)
963,565
2.500,342
1,200,000
(12%)
891,507
2,485,022
1,100.000
(11%)
875,831
2,142,927
1,000,000
(10%)
1,300,342
1,385,022
1.142.927
Surplus
339,893
[VOL. Lxxxviii.
THE CHRONICLE
560
GENERAL BALANCE SHEET DEC. 31.
1908.
1908.
1907.
$
Liabilities8
Assetsstock
Capital
10,000,000
10,267,973
10,267,973
road
Cost of
4,000,000
Cost of equipment_ 6,641.961 6,641,961 Funded debt
Wages & supplies_ 623,336
Advances for lessor
and other cos__ ..*5,149,075 4,919,521 Loans and bills
payable
75,000
Stk. In sundry cos_ 1,381,601 1,381,801
103,611 Traffic bals. pay'le 506,638
Bds. in sundry cos. 104,200
85,000
Interest accrued
Real est. not used
500,000
20,530
26,530 Div. pay. Feb. 1
In oper. of road..
976,404 Sundry acc'ts pay_
94,131
Fuel and supplles. 704,263
748,759 Pitts. McKees. &
1,306,609
Cash
Yough'y RR.Co. 404,499
46,830
46,830
Bills receivable..
984,609 Items in suspense_ 689,323
Traffic bal. ree'ble 445,815
Profit and loss ...10,366,206
Sundry collectible
1,164,576 1,545,982
accounts
829,803
104,705
suspense_
in
Items
1907.
8
10,000,000
4,000.000
1,158,825
Chicago Junction Railways & Union Stock Yards Co.
(Report for Fiscal Year ending Dec. 31 1908.)
President Nathaniel Thayer says in substance:
General Results.-In the live-stock industry, as In general business, the
year 1908 has been one of slow recovery from the panic conditions that
existed at the close of 1907. The Chicago Stock Yards received substantially its full proportion of the general movement of all kinds of live stock
during 1908, as Indicated by receipts at the six principal Western markets.
The company has pursued its usual policy of liberal expenditures for
mprovements, charging the cost to operating expense. Much of the costly
of elevating the tracks has now been completed and entirely paid for.
work
1,120,412
Bonds-Outlook.-The necessity of increasing the issue of first mortgage
507,207
real estate improvement mortgage bonds from $2,000,000 to
20-year
5%
10,031,669
$3,000,000.50 as to provide a larger fund for contemplated buildings and
other purposes, was laid before the stockholders Feb. 11 1908 and the increase was ratified. The prior bonds have since been called in and exa like amount of the larger issue. Additional bonds have been
Total
27,344,133 28,473,783 changed for
27,344,133 28,473,783
Total
and are being, from time to time, issued as authorized in the mortgage,
$1,350,000, face value, are now outstanding, Including $392,000 held
and
• Little Kanawha syndicate, $4.177,180; Greene County RR. syndicate, by your company. Many improvements have been made upon the mort3125,000; Lake Erie & Eastern RR, $817,375; sundry other companies, gaged property, and the prospects are most encouraging. Recent contracts
$29,520.-V. 88, p. 296.
for sales and leases would seem to indicate a great future value for the
properties covered by the mortgage.
175,138
701,756
86,500
'600,000
92,276
New Orleans Railway & Light Company.
(Report for Fiscal Year ending Dec. 31 1908.)
Revenue mileage
Pass. carried (revenue) _
Transfers redeemed, No.
Gross EarningsEarnings RR. departm't
do gas and electric
do miscellaneous
Total gross earnings_ _
Operating ExpensesOper exp. RR. dept_
Oper. exp. gas & elec.__
1908.
18,671,256
77,459,499
15,492,363
1907.
18,332,961
78,879,204
7,590,597
1906.
17,718,107
73,606,068
7,220,152
1905.
16,753,874
65,021,214
6,641,193
3,909,340
1,923,931
176,175
3,987,733
1,893,685
159,873
3,724,272
1,875,400
173,518
3,291,961
1,705,807
95,942
6,009,446
6,041,291
5,773,190
5,093,710
2,457,872
909,546
2,411,759
858,638
2,225,580
848,435
1,901,085
770,376
3,270,397
2,671,460
3,074,015
Total oper. expenses_ 3,367,418
2,770,894
2,699,175
2,642,028
2,422,249
Net earnings
Deduct1,355,7721
Interest on funded debt_ 1,388,209
669,846f 1,900,901
1,784,226
680,107
Taxes and miscellaneous
(3 3-)312,500 (5)500,000(1 MI 125,000
Div. on pref. stock
2,400,901
298,274
1,909,226
513,023
Issued.
42,409,500
New Orleans City RR., preferred
4,991.000
Common
234,700
Orleans RR. Co
& Pow. Co., corn.. _ 2,500,000
N. 0. & Carrollton RR.,
4,600,000
'Preferred
953,300
Saint Charles Street RR. Co
349.800
New Orleans & Pontchartrain RR. Co
10,000
New Orleans Lighting Co
5,250,000
New Orleans Gas Light Co
Owned.
$2,465,700
4,826,900
234,700
2,500,000
4,588,000
952,300
349,800
10.000
5,160,700
Total
Balance, surplus
2,068,316
573,712
2,338,118
432,776
STOCKS OWNED.
COMPARATIVE STATEMENT OF LIVE STOCK AND CAR RECEIPTS
Hogs.
Horses,
Cars.
Sheep.
Calves.
Cattle.
92,138 278,620
3,039,206 421,671 8,131,465 4,351,889
1908
3,305,314 421,934 7,201,061 4,218,115 102,055 287,981
1907
.3,329,250 413,269 7,275,063 4,805,449 126,679 293,245
1906
COMBINED EARNINGS OF STOCK YARDS CO. AND CHICAGO
JUNCTION R Y.
1905.
1906.
1907.
1908.
$5,202,471 $5,903,372 $5,471,866 $5,539,009
Gross earnings
3,431,884
3,497,309
3,676.686
Expenses, int. dc taxes.. 3,012,547
$2,226,687
$2,039,982
$2,041,790
INCOME ACCOUNT.
1907.
1908
Balance from prey. year $1;545,327 $1,314,025
•Divs. from investm'ts,
1,861,893
int. on deposits, &c_.. 1,914,489
1906.
$1,101,499
1905.
$893,679
1,833,933
1,855,795
33,459,816
Total
Payments$45,873
General expenses, &c_ _ _
660,000
Interest
520,000
Common dividend (8%)
390,000
Preferred dividend (6%)
Miscellaneous
$3,175,918
$2,935,432
$2,749,474
$55,590
660,000
520,000
390,000
5,000
$46,407
660,000
520,000
390,000
5,000
$72,975
660,000
520,000
390,000
5,000
$1,615,873
31,843,943
$1,630,590
$1,545,328
$1,621,407
$1,314,025
$1,647,975
$1,101,499
Net earnings
Total
Surplus to bal. sheet
$2,189,924
• Chiefly or wholly from Union Stock Yards & Transit Co. and Chicago
Junction By.
BALANCE SHEET DECEMBER 31.
1907.
08
19.
1908.
1907.
$
Liabilities$
$
D. 506.
6,500,000 6,500,000
s- acct_ _29,161,292 28,632,028 Stock,
Investment
6,500,000
463,212
204,225 Stock, preferred_ 6,500,000 14,198,000
Cash
Georgia Railway & Electric Co.
14,958,000
1 925 Bonds
Accts. receivable_, 25.000
s
BilpIsayaanbdieaccount
accounts,
Trust
31
Dec.
ending
1908.)
177,632
(Report for Fiscal Year
776
"mortgage and
1,637
2,039
Dividends unpaid_
collateral" and
President P.S. Arkwright, Feb. 15 1909, says in substance:
293,023
293,330
Interest
Accrued
imestate
"real
227,500
227,500
declared
Dividends
Construction, &c.-During the year 5.375 miles of new track were built,
123,049
provement" bds. 194,705
0.261 miles of track taken up and abandoned and 4.071 miles were re- Coupon account__ 251,840
252,756 Income & expense 1,843,943 1,545,327
built; about 160 miles out of the total mileage have been built or rebuilt
229,1361 account
Dividend account_ 229,539
Of
and
sections
modern
on
ballast.
of
rail
heavy,
with
1899
since Jan. 1
30,325,588 29,443,119
the total mileage only 4.4 miles of track are constructed of light rail not in
Total
30,325,588 20,443,119 Total
good condition. During 1908 3390,786 was expended on new construction
88, p. 454.
and additions as follows: Georgia Railway & Electric Co., $321,372;
Atlanta Gas Light Co., $69,414.
General Results.-The gross earnings show an increase over the preceding
Toronto Railway.
year of $29,679, or 9-10 of 1%;the net earnings show an increase of $42,967,
or 2.6%. After paying all fixed charges and preferred stock dividends of
Year ending Dec. 31 1908.)
for
(Report
Fiscal
the
for
remained
there
surplus
earnings
stock,
common
the
on
6%
and
5%
year of 3258,576, whlch were credited to profit and loss. In addition to
President William Mackinzie says in substance:
the general financial depression, the year 1908 covers the first period of the
to
operation of the State prohibition law.
Results.-The increase in gross passenger earnings amounted
General
Beginning April 1 1908, the new contract with the city became effective, $147,006, which, considering the general depression wevalling is very
resultinT in a decrease of charges for public street lights from $75 per arc satisfactory. Another favorable feature is the fact That all maintenance
per annum to $60 per arc per annum and reducing the prices to commercial and operating departments show decreases.
lathe
custoiners for electric light service from 12 cents to 10 cents per k. w
Electrical Development Co.-The chief reduction in expe-ses occurs
hour maximum and for power from 7 to 6 cents per k. w. hour maximum. cost of power and the directors feel that the shareholders are to be conEffective Sept. 1 1907 the wages of motormen and conductors were in- gratulated upon the advantageous outcome of the negotiations whereby
creased so that during the first eight months of 1908 the expenses were on this company has secured control of the splendid property of the Electrical
the basis of a higher wage scale. During 1907 the taxes were largely in- Development Co. and Its practically unlimited (supply of power.
V. 87, p. 292), the new
creased, the assessment of physical property and franchises being increased
[The terms on which the Toronto Power Co. control
of the Electrical
acquired
130% over 1906. This increased assessment was maintained during 1908 subsidiary of the Toronto By.
and added to, to some extent, on account of additional property.
which it has leased that company's
Co.'
on
basis
Co.,
and
the
Development
Controlled Company.-The Atlanta Northern Railway Co., the capital property are stated below, following the balance sheet.:
stated that "It looks
stock of which is owned by this company, shows for the year 1908 (1907
At the annual meeting on Feb. 3 the President
Co.: will be able to take
inserted for comparison-Ed.):
as if in a short time the ;Electrical Devcopment
Note Balance, Total
Bond
Taxes
railway
Net
company."-Ed.)
the
Gross
by
Cal.
guaranteed
now
care of the obligations
Earnings. Earnings. Paid. Interest. Interest. Surplus. Surplus.
Year.
Additions. ea.-During the year the sum of $431,871 has been expended
$112,821. $29,072 $2,949 $20,000 $2,022 $4,101 $56,384 for extensions, additions and 13etterments. Over forty of the latest type
1908
52,283
2,092 20,138
20,000
3,279
shops
45,510
138,523
1907
of double-truck convertible cars were constructed in the company's
and placed in service, affording facilities for the over increasing traffic.
Georgia Ry. & Electric Co.-Atlanta Gas Light Co.
two years ago have proved of such gicat
loop
lines
constructed
The
RESULTS FOR CALENDAR YEARS.
advantage to the public that during the _past year the Richmond St. loop
1906.
1905.
1907.
1908.
was extended easterly from Victoria to Church St.
$2,894,924
$3,309,341
$2,500,575
$3,339,021
Payment to City.-The company paid the city in 1908 $578,994, an inGross earnings
1,427,851
1,216,033 crease of 210% in the last decade.
1,663,282
1,649,994
Operating expenses
[Sole of £500,000 4.% Debenture Stock Guaranteed by Toronto Ry.$1,689,027 $1,646,059 $1,467,073 $1,284,542 See Toronto Power Co. in V. 87, p• 292.-"•]
Net earnings
Toronto d, York Radial Ry.-The gross earnings were $314,564, as corn
•33,827
Divs. on stocks owned
-pared with $282,144 in 1907. The Lake Stmcoe extension to Jackson's
$1,467,073
$1,646,059
$1,284,542
Point, a distance of 245 miles, was operated in 1907 for only six months.
$1,722,854
The extension to Sutton, 13-6 miles, was opened for traffic in December.
Deduct$122,270
$100,664
$229,725
•
$231,662
Taxes
Statistical Statement for Years 1898-1908 (Every Other Year.
513,367
513,304
554,950
601,740
Int. on bonds and notes_
1898.
120,000
1904.
1902.
1900.
120,000
120,000
1908.
1906.
120,000
Divs. on pref. stock, 5%
390,949
(6)428,448(634)
(2)120,292
Divs. on corn. stock_ _ _(6%)510,876
Gross Inc _3,610,273 3.109,739 2,444,534 1,834,908 1,501,001 1,210,618
631,761
$854,260 Net earns1,721.226 1,463,224 1,020.355
819,547 725,020
FINTotal deductions ____ $1,464,278 $1,333,123 $1,146,586
$320,487
3430,282
$312,936
$258,576
Balance, surplus
RESULTS FOR CALENDAR YEARS.
1905.
1907.
1906.
1908.
rig. Includes dividends on treasury stock, $29,604; on miscellaneous
89,139,571 85,574,788 76,958,488 137,881,688
Passengers carried
stock, $4,223.
28,159,558 23,625,752
31,370,825
32,700,576
Transfers
GENERAL BALANCE SHEET.
$3,610,273 $3,511,198 $3,109,740 $2,747,324
1908.
Gross earnings
1907.
1907.
1908.
1,560,437
1,646,515
1,893,236
1,889,047
Operating expenses
$
Liabilities$
Assets$
$
Construe'n. plant _21,035,556 20,644,991 Preferred stock_ _ _ 2,400,000 2,400,000
$1,186,887
$1,463,225
$1,617,962
earnings
31.721.226
Net
8,514,600
stock___
8,514,600
Common
423,087
Supplies,fittings4c 341,730
$464,306
$566,163
•$640,809
•$692,870
675,403 Mortgage bonds_ _10.855,000 10,865,000 Fixed charges
Cash & accts. rec_ 312,978
(6)479,514 (6)473,378 (6)460,241 (5)350,000
909,529 Dividends paid
11,3881Accts. & bills pay_ 1,046,631
6,545
Prepaid accounts..
79,997
80,966
80,904
paving
81,158
4,792
of
Cost
payable__
4,792
'Interest
Stocks and bonds_ 2.397,012 1,898,364
50,000
100,000
125,000
150,000
19,878
20,076 Contingent account
89,753 Taxes payable____
41,551
Job & work orders
97,030
110,627
100,000 Reserve accounts_
Sinking fund bonds 112,000
$944,303
$1,403,542 $1,320,181 $1,207,370
Total
26,340
21,340
4,748 Sink, fund interest
5,211
Sink. fd. premium
$242,584
3255,855
3297,781
$317,685
82 Profit and loss__ 1,274,924 1,016,349 Surplus
208
Sink,fund trustee_
compared
as
$447,398,
of
the
percentage,
city's
Includes
payments
•
;
"2,2792 2348,711
24,252,792 23,848,7161 Total
Total
WI h $419 607 the previous year.
-V. 88, p. 503 158.
Total
88.
-321,388.300 $21,088,100
FEB. 27 1909
THE CHRONICLE
BALANCE SHEET DECEMBER 31.
1008.
1907.
.1907.
1908.
AssetsLiabilities$
1
$
$
Road and equipCapital
8,000,000 8,000,000
ment
13,972,891 13,541,020 Bonds outstanding 3,998,327 3,613,373
70,775
Stores on hand__. 369,187
363,674 Mortgages
70,700
Accounts receivAccrued interest
63,700
69,743
511,3091 Accounts & wages 162,064
able
654,821
142,800
Ca.411
442,569
205,654 Unredeem'd tickle
66,630
70,371
Bills payable
137,160
Accr.s.f.Tor.P.Co..
122,665
21,406
Injuries fund
38,737
119,786
Dividend
120,000
117,593
Contingent acct.__ 200,742
Profit and loss_ _ _ _ 2,586,119 2,268,434
Total
15,439,468 14,621,657
Total
15,439,408 14,621.657
A circular issued to the shareholders of the Electrical
Development Co., under date of April 6 1908, by H. H.
Macrae, the General Manager of that company, gave substantially the following information as to the basis upon
which the Toronto Power Co. (V. 87, p. 289), the new
subsidiary of the Toronto Ry. Co., has secured control of
the Development Co.:
501
United States Leather Company.
(Report for Fiscal Year ending Dec. 31 1908.)
INCOME ACCOUNT INCLUDING SUBSIDIARY COMPANIES.
Gross earnings
$21,242,884
Manufacturing costs and distributing expenses__ _$13,312,473
Depreciation, maintenance and repairs
1,151,217 14,463,690
Net manufacturing, producing and operating income_
______ $6,779,194
Salaries, payroll and department expenses
$846,519
Taxes, insurance, legal and other expenses
680,771
Interest on debentures, bills and accounts payable
922,997 2,450,287
Net profits
$4,328,907
Dividends on preferred stock,6%
3,736,93,
0
Undivided profits for year
$591,969
BALANCE SHEET DEC. 31.
1908.
1907.
1906.
1905.
Assets$
$
1
1
Cash
3,492,932
4,318,177
2,505,159
2;230,337
Due by customers
9,574,346
9,979,789 10,761,665
9,562,293
Bills receivable
5.041,881
3,569,624
1,277,339
243,507
Doubtful debts, value
5,727
4,245
8,832
4,125
Other debtors
1,070,602
984,196
Hides and leather
10.299,666 11,457,273 15,269,784 12,716,388
Bark at tanneries
2,472,768
2,386,318
1,677,962
1,871,105
Sundries,pers'i prop.,&c.
400,553
402,108
654,627
590.839
Advances to other cos
508,703
1,920,921
1,923,030
Drawbacks
464,492
508,223
Railroad mortgage
100,000
100,000
100,000
100,000
Tannery, plants, &c
7,001,226
6,924,692
6,847,706
6,756,081
Stock of other cos
a59,900,298 58,172,226 56,760,181 52,823,603
Bonds Central Penna.)
Lumber Co
} 6,216,888
6,216,888
6,879,888
8,404,888
bBondsSusq.& N.Y.R111
Bonds for sinking fund_
428,064
Real estate interests _
628,196
-5-0-1,115
490,235
- -2-3-2-,625
Good-will, &c
62,832,300 62,832,300 62,832,300 62,832,300
Unexpired insurance_ _ _
123,246
125,793
106,293
71.576
The following plan was adopted: (a) To provide for converting one-half,
viz., $3,000,000 of the Devel pment C .'s stock into preference stock, having
voting power only if default be made in payment of interest on the company's bonds. (5) To provide for the transfer of the remaining $3,000,000
Of common stock to the Toronto Power Co. (c) To make a lease to the
Power Co. of the works and transmission lines.
"No shareholder is obliged by the by-law to surrender his common
stock and accept 50% in preference stock, but that it is clearly in the
!interests of the shareholders to do so is shown by the fact that over 75%
of the shareholders have already surrendered their certificates and accepted
the preference stock.
"The by-law as passed gives to the preference shareholders preference
both as to capital and dividend, and as amended-Ed.] entitles them to a
6% dividend out of net profits, said dividend to be cumulative after Jan. 1
Total
168,529,638 167,496,705 169,627,987 161.855,116
1910, but non-cumulative before that date.
Liabilities"By the terms of the lease the Toronto Power Co. agrees to purchase the
62,882,300 62,882,300 62,882,300 62,882.300
Development Co.'s treasury bonds ($1,850,000) the accounts receivable Common stock
62.282,300 62,282,300 62,282,300 62,282,800
and stores on hand,and agrees to issue its bonds (V. 87, p. 289),guaranteed Preferred stock
5,280,000
4,680,000
5,080.000
by the Toronto Railway Co., to provide the moneys to pay the purchase Bonds, less in treasury_ 4,280,000
47,810
52,470
59,550
67,900
price and the other moneys necessary to pay the current liabilities. Pro- Accrued interest, &c_...._
171.032
342.461
659,949
609,585
visions are made relating to future expenditure for completing and extending Current accounts
960,532
2.072,904
453,582
1,516,822
the works and transmission lines. The Toront3 Power Co. agrees, during Foreign exch., not due_ _
1,985,1231 12,785,019 13,080,000
7,900,000
the period of two years from March 1 1908, to pay by way of rental the Due subsidiary cos
10,910,000J
sums necessary to enable the Electrical Development Co. to meet the Bills payable
419,172
419,172
639,729
interest on its bonds, and if the net earnings are sufficient during those Fire insurance reserve
632,666
400,000
two years, they are to be applied in payment of or on account of the divi- Depreciation reserve_
24,191,369 23,599,400 22,913,200 20,611,529
dend on the preference stock. After the two years, the net earnings are 'Surplus
to he paid by way of rental to the amount sufficient for payment of the
Total
bond interest and sinking fund (first payment of which must be made on
168,529,638 167,496,705 169,627,987 161,855,116
March 1 1911 and thereafter annually), and the cumulative 6% dividend
a Represented by hides and leather, tannery plants, extract works,
on the preference stock.
"The term of the lease runs concurrently with the Electrical Development glue plants, saw-mills, lumber, railroads, bark, timber and lands in fee,
Co.'s lease or contract with the Niagara Falls Park Commissioners and the bark contracts, bark at tanneries, personal property, cash and sundry
renewals thereof, but may be terminated by the Toronto Power Co. after debtors (V. 78. p. 817.)
b See "Railway & Industrial" section for Jan. 1905, page 380.
the expiration of two years, by giving one year's notice of termination.
• Surplus is subject to the payment of 1 yA,% quarterly dividend on pref.
Compare also V.86, p. 605, 1098, 1408, 1412; V.87, p. 286.-V.88, p. 453.
stock, payable in Jan. next ensuing, calling or $934,234, V.86. p. 545.
Union Switch & Signal Co.
(Report for Fiscal Year ending Dec. 31 1908.)
Central Leather Co.
(Report for Fiscal Year ending Dec. 31 1908.)
President Edward C. Hoyt says:
On the basis (1) of the proportion of the stock of the United States
Leather Co. held by it (2) of the net earnings of that company for the
year ended Dec. 31 1908 and (3) of the net earnings of the subsidiary
colnnanies of the Central Leather Co., the earnings of the Central Leather
Co. for the year ended Dec. 31 1908 were $4,550,074 (against $4,182,272 in
1907 and $6,533,994 in 1906.)
INCOME ACCO UN7'.
1908.
Earnings$
Div. on pref. shares U.S.Leath.owned •3.468,432
Interest and discount
33,373
Net earnings of N. R. Allen's Sons Co.,
Union Tanning Co., Harrington & Co.,
and other subsidiaries (partly undistributed)
981,170
1907.
1
3,463,825
31,688
1006.
$
3,432,126
47,681
663.717
821,274
4,159,230
4,301,081
1908.
1907.
Gross receipts
$2,123,543 $5,023,599
Surp. over int. & dep'n_
1,024,842
77,849
Dividends on common_ _(12)240,000 (12)240,000
Dividends on preferred_ (12)59,712 (12)59,712
Surplus for year_ _ _def.$221,863
67,350
. 113,196
1,726,330
2,174,301
1,724,410
2,10,285
299,875
25,000
1,692,591
2,126,316
Total expenditures
Undivided profits
3,967,985
514,090
4,007,891
151,339
4,143,783
157,298
•Includes 6% dividends on $57,807,200 preferred stock.
BALANCE SHEET OF CENTRAL LEATHER CO. DEC. 31.
1008.
1007.
1907
1908.
Assets$
Ltabtlfiles$
$
$
Stock of U. S.
Bds. outstanding 34,526,600 34,526,600
Leather Co.._ _ _96,267,102 96,217,152 Preferred stock _31,061,500 31,061,500
Invest. in subsid.
Common stock 38,459,902 38,409,952
cos., incl. stks. 8,128,628 7,028,7741 Bills payable_ ___ 4,400,000 3,750,000
Dills receivable__l Accts. payable__ 200,000
16,549
Union Tan.Co. 4,332,000 4,332,0001Undiv. profits.- 941,664
426,674
Accts. receiv.1
-Un Tan. Co. 398,566
376,0051
Curr, accts. rec__
184,099
150.0581
33,862
Accrued interest_
35,9051
245,509
Cash
51,3811
Total
1
109,589,666 108,191,2751
Total
109,589,666 108,191,275
COMBINED BALANCE SHEET OF SUBSIDIARY COMPANIES AS OF DEC.31
1908.
1907.
1908.
$
Assets$
Liabilities$
4,742,188 4,747,058 Capital stock
Plants
1.000,000
Bark & timber ids.,
Surplus
4.661,475
other real estate
Due Cent.Leath.Co.4,530,566
& pers. prop.... 1,299,174 1,352,386 Mtge. due by WalIlides,leather,bark,
lin Leather Co
9,000
extract, lumber,
Bills payable
3,942,000
supp., nutter.. &
Accounts payable. 735,666
pers.prop.7,977,653
7,488,978 Accrued interest- 118,051
sundry
20,318 Fire insur. reserve.
17,409
Unexpired insur_.
33,403
701,953 Undivided profits- 1,155,744
Bills receivable.... 295,797
Accts. receivable_ 1,718,806 1,765,087
00,952
134,878
Cash - _
Total
16,185,905 16.172,7321 Total
16,185,905
1907.
$
1,000,000
4,661,475
4,708,005
9,000
3,571,000
1,357,329
135,478
730,445
10,172,732
The report of the United States Leather Co.for the calendar
year, with comparative balance sheets, are given below.
-V. 86, p. 796.
1905.
$2,980,890
409,667
(8)119,936
(10)49,760
$845,858
$239,971
BALANCE SHEET DECEMBER 31.
1908.
1908.
1907. 1
1907.
Assetsg
$
$
$
1 LiabilitiesCash
695,456 211,981 Common stock
2,000,000 2,000,000
Bills & accts. receiv_ 702,364 1,491.189 Preferred stock
Materials in stock_
986,473 1,592,565 Bonds
101,000 243:000
Real estate & bidgs.1,167,037 1,097,489 Bills and accounts
Mach.,tools&fixtures 737,830 608.505 payab'e
135,978 307,939
Patents
848,526 800,000 Unclaimed dividends
2,145
1,749
20,000
Surplus account___*2,425,407 2,755,888
Investments
Inaur. not matured_
4,445
4,444
Total
4,482,975
ExpendituresGeneral expenses
Discount &c., bond sales
Bond interest
.
Dividends paid on preferred
$725,130
1906.
$5,057,111
1,055,332
(9)157,226
(10)52,248
5,162,130 5,806,174
Total
5,162,130 5,806,174
* After deducting $108.616-on account of prior year's accounts.-V.88, p. 509.
National Carbon Company.
(Report for Fiscal Year ending Jan. 311909.)
Results for four years past compare as follows:
1908-09.
1907-08.
• 1906-07.
1905-06.
Net earnings
$980,283
$924,802
$890,764
$951,078
Div. on pref. stock (7%)
315,000
315,000
315,000
315,000
Div. on common stock
(4)220,000 (4)220,000 (4)220.000 (3 %)192,500
Add'ns & deprec'n acc't
400,000
350,000
375,000
350,000
Charged off
7,019
5,050
3,513
1,966
Bal.to prof.& loseacc't
AssetsReal estate.plants,
machinery, &c_
Merch., manufac'd
& unmanufac'd.
Cash
Cash reserved for
div. on pf. stock
Bills & accts. reel°
38,264
34,752
39,112
29,751
BALANCE SHEET FEBRUARY 1.
1909.
1908.
1908.
1909.
Liabilitiess
$
$
$
Preferred stock__ 4,500,000 4,500,000
9,089,490 8,647,882 Common stock_ __ 5,500,000 5,500,000
Dividend on pre896,196 1,116,793 (erred stock pay192,879
262,693 able Feb. 15_ _ ...
78,750
78,750
Accounts payable_
60,346
105,356
78,750
78,750 Profit & loss acct.
434,502
507,711
502,4241 to balance
469,446
Total
10,691.817 10,608,542
-V. 86, p. 1592.
Total
10,691,817 10,608.542
Kings County Electric Light & Power Co., Brooklyn, N. Y.
(Report for Fiscal Year ending Dec. 31 1908.)
The report, signed by A. N. Brady, President, and W. W.
Freeman, Vice-President, General Manager and Secretary
of the board, says in substance:
General Results.-The gross earnings have increased $141,730, or 4.1%,
whereas the operating expenses have been reduced $38,638, or 2.2%, making the increase in net earnings $180,368, or 10.7%. After deducting all
charges, including depreciation, bond interest and dividends, the net profit
and loss surplus for the year is $29,513, as compared with $21,853 for 1907.
If, however, the net increase in the depreciation and insurance reserves
during the year be added, the surplus earnings for the year over actual expenditures amount to $136,684.
While the commercial depression during the past year has been felt by
the company In a reduction of its usual rate of growth, It has, notwithstanding, been able to so regulate its expenses as to show a net gain.
Balance Sheet.-The plant and property account has been increased
$1,056,614, of which $715,226 represents the net increase in the account.
the difference having been charged to depreciation for replacement of property retired from•service.
The accrued and suspense accounts, containing a credit of $259,296,represent accrued expenses, chiefly taxes, charged against earnings, but payment
of which is not clue or is withheld, pending adjustments. Of the accounts
payable, $209,635 represents vouchered bills for franchise taxes, the payment of which is being withheld pending adjustment of the tax claims for
1906 and 1907. which were contested as unreasonable. Provision for these
claims, when adjusted, has been made in the accrued and suspense accounts.
The guaranty fund of $1,000,000 held by Central Trust Co. of New
York, as trustee, Is a guaranty deposit required under the purchase money
mortgage to insure the payment of interest on said bonds. The fund is
invested in approved securities, which earn an average of 4.05% per annum.
Outlook.-An increased demand has been manifested, especially during
the last quarter of the year. and the officers believe that the year 1909 will
be a successful one.
COMPARATIVE COMBINED EARNINGS.
1908.
1907.
1906.
Gross earnings
Operating expenses, incl. general,
technical, production and distribution expenses
3,613,470
1.747,757
1,786,395
1,511,686
Net earnings
Depreciation charges
1,865,712
404,858
1,685,345
242,932
1,385,586
100,000
Balance
Deduct-Bond discount written of!.Sec
1,460,856
24,783
1,442,413
50,000
1,285,586
50,000
Bond interest
Dividends paid (8%)
1,436,073
606,560
800,000
1,392,413
606,560
764,000
1,235,586
608,560
592,000
Profit and loss surplus
Previous profit and loss balance
29,513
1,178,061
21,853
1,159,360
37,026
1,122,334
3,471,740
2,897,272
1,207,574
1,181,213
COMBINED BALANCE SHEET DEC. 31.
1907.
1908.
1908.
Liabilities-.
ResourcesPlant & property_20,537.617 19,822,392 Kings Co. cap.stk.
(Incl. adv. pay'ts
License under Edi
for new stock)* 10,000,000
945,000
son patents_ _ _ _ 945,000
457,547 Cons. 1st M. 4%
Material & supplies 549,431
193,338
4,275,000
gold bonds
201,042
Cash on hand
31,628 1st M.5% gold bds. 2,500,000
Bills receivable_
60,066
Purch. money 6%
AceIs receivablegold bonds
Commercial
_
437,155
405,578
5,176,000
707,089 Bond int. accrued.. 108,890
City of N. Y
134,949
Accrued expenses_ 259,296
Stocks & bonds in
Costomers' guar.
other cos.(except
deposits
682,248
Edison stock)._ 688,598
61,878
Accounts payable_ 574,687
Central Trust Co.
Insurance reserve_
of N. Y., trustee
139,181
(guaranty fund) 1.000,000 1,000,000 Replacement & de/12,415
preen reserve
375,165
Ins. Invest. fund.. 139,181
Profit and loss bal. 1,207,574
Morton Trust Co.,
4,900
real est. deposit_
4,900
Controller, City of
7,500
9.000
New York
Prepaid and sus31,927
2,308
pense accounts.
Total profit and loss balance
Total
24,677,671 24,433,139
Total
1,159,360
1907.
10,000,000
4,275,000
2,500,000
5,176,000
108,890
103,298
52,798
628,785
112,415
294,760
1,181,213
24.677,671 24,433,139
• Note.-Edison stock, $5,000,000, represented by purchase money
6% bonds.-V.88. P. 379.
MEI
American Writing Paper Co.
(Report for Fiscal Year ending Dec. 31 1908.)
The report, signed by the Executive Committee, says:
General Results.-During the past year our operations have been curtailed
by the general stagnation in business, and also by unusually low water conditions, particularly in Holyoke, where a majority of the mills are located.
The demands of the trade have been about 30% less than in 1906, when
trade conditions were normal. Our finished outp t was about 27% less
than in 1906. The value of our sales was about 26% less than in 1906,
while operating expenses were reduced about 22%.
The company has continued to keep its plants up to an efficient standard,
and for that purpose has expended in repairs and improvements *226,014,
all of which has been charged to operating expense.
Prices have been maintained, and with a return to normal business conditions the company is prepared to produce more largely than ever before.
The demand for our product was 20% greater during the last six months
of the year than for the first six months, and this Increase has continued
since Jan. 1.
Bonds.-The annual requirement of $100,000 for the sinking fund has
been paid to the Old Colony Trust Co., and in addition thereto $56,850
for interest on bonds held in the fund on Dec. 31 1908. In January 1908
there was in the sinking fund 1,050 bonds, which had cost the company
*828,508 68 (averaging 78.90%). The trustees purchased during 1908
and added to the fund, 139 bonds at a cost of $116,081 (averaging 83.50%),
bringing the number of bonds in the sinking fund Dec. 31 up to 1.189, for
which the company had paid $944,589 93 (an average of 79.44%).
As directed by the board, the Treasurer has invested the interest received July 1 and Jan. 1 from bonds held in the treasury, amounting to
$58,000, In bonds of the company. There are in the treasury as of Jan. 1
1909, 1,200 bonds, costing" 8989,628 80 (averaging 82.47%).
Status.-The quick assets on Dec. 31 1908, including at cost the 1,200
bonds held in the treasury (but not including the bonds held in the sinking
fund) were $5,989,864, a decrease for the year of $504,616. The company
closed the year's business without loss by bad debts, and it has, as heretofore, discounted all purchases. Our entire indebtedness at the close of
the year (aside from bonds) was $4,393 for current bills.
EARNINGS, EXPENSES, CHARGES, &C.
1907.
1906.
1908.
1905.
$824,541 $1,429,440 $1,415,331 *1,303,044
Net earnings
136,475
119,613
140,532
126,933
'merest, &c
$1,565,915
$850,000
263,799
100,000
*249,410
$1,534,944
$850,000
240,460
100,000
*1,429,977
$850,000
215,341
100,000
$1.220,289 $1,463,209
$102,706
def4255,216
$1,190,480
$344,484
$1,165,341
$264,836
Total net income
$965,073
Interest on bonds
$850,000
Expenses, includ. maint_
270,289
Sinking fund
100.000
Dividends (2%)
Balance, surplus
• Two dividends of 1% each, which were declared payable April 1 and
Oct. 1 1907, were paid June 1908 after a favorable court decision. They
are here deducted from the 1907 figures, although not shown in the pamphlet
report for that year. V. 86, p. 1532.
BALANCE SHEET JAN. 1
1909.
1908.
1908.
1909.
Assetss
Liabilities$
$
Plant & real estate 16,694,208 16,694,218 Preferred stock_ _ _12,500,000 12,500,000
Good-will, &c___ _18,010,150 18,010,150 Common stock__ 9,500,000 11,500,000
17,000,000 17,000,000
Cash
1,314,087 1,356,728 5% bonds
4,393
Accts. receivable..11,131,205 11,182,494:Accounts payable_
3,710
Notes receivable__ J
1 277,299 Sink, fund reserve 978,000
819,150
1,694,022 2,198,648
Company bonds__ 989,829
897,372 Surplus
Miscellaneous __
10,235
10,235
Supp. & materials. 2,548,901 2,773,862
Sinking fund
819,150
976,000
2,000,000
Treas. com. stock
Total
-V.87. P. 95.
[VoL. Lxxxvm.
THE CHRONICLE
562
41,874,415 44,021,5081
Total
41,674,415 44,021,508
Parke, Davis 85 Co., Detroit.
(Balance Sheet Jan. 1 1909.)
$7,600,000
Real estate & buildings__$1,553,576 Capital stock
3,331,851
(Compare V.87, p. 1608;
Inventory
335,319
V. 85, p. 923, 1007:
Cash and bank eposits__
V. 76, p. 814, 708;
Bills & accounts receivable 2,012,529
626,875
V. 72, p. 187.)
Branch balances
164,8131 Accounts payable
Office furniture & fixtures
408,225
824,168 Surplus fund
Machinery & lab. appar__
1,002,153
44,476
(Compare V.87, p. 1608;
Patents
V. 85, p. 923, 1007.)
116,971
Auxiliaries
$9,010.378
Total
Compare V. 87. p. 1608.
Total
$9,010,378
Baldwin Co.(Pianos, Organs and Player-Pianos), Cincinnati.
(Report for Fiscal Year ending Dec. 31 1908.)
This company, Lucien Wulsin, President, and A. P.
Hagemeyer, Secretary and Treasurer, issues the following:
TOTAL SALES AND INCOME ACC0 UNT.
1907.
1906.
1908.
1905.
$4,277,522 $4,549,124 $4,423,572 $3,745,362
Sales
$360,775
$372,278
$306,031
Total earnings
$324,802
Deduct$48,000
$48,000
$48,000
Divs. on pref. stock (6%)
$48,000
Divs. on common stock_(6%)60,000 (5%)50,000 (4%)40,000 (4%)40,000
84,701
94,743
61,937
50,755
Added to reserve
$219,577
$168,032
$186,047
Balance added to surp. $138,094
BALANCE SHEET DEC. 31.
1908.
1907.
1907.
1908.
$
Liabilities$
Assets$
$
Preferred 6% cum.
Real estate & build800,000 800,000
Ings
538,097 538,482 (par $100)
Machinery
228,500 165,008 Common stock (par
233,970
88,460 of shares $100) 1,000,000 1,000,000
Cash
1,359,908 1,223,814
Surplus
Bills and accts. re478,521 416,584
ceivable (net) __ _1,291,437 1,244,360 Reserves
Accounts payable,
Merchandise-raw -ii:
113,410
84.867
current
manufactured
1,069,735 1,127,815
Bills payable (Incl.
Good-will, trade
299,900 328,860
ground rents)
marks, pats., &c
690,000 690,000
_
4,051,739 3,854,125
4,051,739 3,854,125 Total
Total
Office, 142 West 4th St., Cincinnati.-Compare V. 86,
p. 978.
Shawinigan Water 85 Power Co.
(Report for Fiscal Year ending Dec. 31 1908.)
President J. E. Aldred in the report submitted at the
annual meeting on Jan. 25 1909 said in substance:
General Results.-The increase of $125,000 In gross earnings during the
present year indicates steady progress, and in view of the general business
conditions may be considered satisfactory. The ratio of operating and
general expense to gross revenue was less than 11%, contrasting with 12%
in 1907.
To some extent, the figures of the year were affected by the failure
of contracting concerns to use power at the expected time, but this mean
only a temporary delay in the realization of the full income from these
companies. The Northern Aluminum Co., after making an expenditure
of over $1,000,000 on Its plant at Shawinigan Falls, to utilize a large amount
of additional power, found that the conditions of the metal market did
not justify starting its new works; with the revival of business there is
no doubt your company will receive therefrom an additional Income of
over $75,000 per year. Moreover, the power of the Soulanges plant being available, the Montreal Light, Heat & Power Co. has, for the first time,
failed to take at this season of the year additional power.
Debenture Stock -During the year the stockholders authorized an additional issue of $750,0004%% debenture stock,covering capital expenditures
made, and this was satisfactorily disposed of.
Additions.-The more important works carried out were the construction of a dam across the east arm of the St. Maurice River above the fans.
for the better control of the headwaters; the addition of 3,000 h. p. of
generators in the Shawinigan station; the addition of 5,000 h. p. to the capacity of the terminal station in Montreal; extension of terminal station at
Joliette; a new station at East Broughton; and the construction of 65 miles
of new transmission lines, enabling us to cover new business at various
points. The total mileage of the company's lines is now 470. Incidental
to these various additions, and to reinforce our position at various points,
there has been installed during the year 27,400 h. p. of transformer capacity.
A line extending the company's service to Robertson and East Broughton
two towns situated within 20 miles of Thetford Mines,) where extensive
operations in asbestos are carried on is under construction, and will be
completed early in the spring; already several contracts have been closed
for fairly large units of power.
We are now being solicited to extend our lines 20 to 40 miles in a southwesterly direction from Danville, to tap a manufacturing section, including
the towns of Richmond, Windsor Mills, Brompton Falls, East Angus, and,
If carried the full forty miles,to Sherbrooke, one of the most substantial
manufacturing communities in Canada. These lines come under the operation of your subsidiary company, the Continental Heat & Light Co.(V. 87.
p. 343). Contracts made and new business in sight indicate an increased
output by this company during 1909 of several thousand horse-power.
About 15 miles of the extensions previously referred to have been made by
the Laval Electric Co., another of your subsidiary companies, which covers
quite generally that section of country lying north and east of Montreal,
the extensions made during the year supplying three additional towns.
The operations of the Laval Company are increasingly profitable and should
continue so in the future.
Up to the present time the conditions arc not sufficiently encouraging
to justify the expense involved in extending your lines to Quebec.
Shawinigan Carbide Co.-Our records show that in 1007, based on a maximum capacity of 32,500 electrical horse-power, contrasting with 23,500 in
1908, the average of the h.-p, hours dthing which a pall of this capacity
was unemployed was equivalent to 12,300 continuous horse-power, against
9,800 in 1908. Anticipating this condition, we purchased a controlling interest In the Shawinigan Carbide Co., and plans were made to adapt the
manufacturing plant to the requirements of the situation. During the
past year this plant has been used in a supplementary way, with the result
that in 1908, based upon a maximum capacity of 35,000 h. p., an average
equivalent of 8,200 h. p. only has been unemployed. Your company should
arrange, if possible, to acquire the entire ownership of this valuable ally.
(Compare "securities owned" in V. 87, p. 343.)
New Subsidiary.-LookIng to the future extension of the scope of your
company's operations, a company Is being formed for the purpose of carrying out plans to conserve the water resources of the St. Maurice and its
tributary streams, to the end that more perfect control may be established of the flow of water in this district. In this movement we shall have
19
t.
08.
Maurice territory.
the co-operation of all the large property holders in the S
INCOME ACCOUNT FOR CALENDAR YEAR.
1907.
Gross earnings, including interest from bonds of
subsidiaries and other sources
$581,193
$708,244
90,263
Oper. exp., general exp,and maintenance
97,360
Net earnings
DeductInterest on consolidated mortgage bonds
Interest on debenture stock
Interest, general
Dividends
$608,884
$490,930
$250,000
52,763
36,702
(4)200,000
$239,073
9,606
35,464
(2)130,000
$414,143
Total deductions
8599,465
$76,
Balance, surplus
$9,419
Surplus as above, $9,419; balance carried forward from 1907, $7,151:
total, $16,570; transferred to reserve fund. $15,000; balance at credit of
profit and loss Dec. 31 1908, $1,570.
FEB. 27 1909.]
563
THE CHRONICLE
BALANCE SHEET DEC. 31.
1907.
1908
1907.
1908.
LiabilitiesAssets6,500,000 6,500,000
Capital stock
Real est., prop. &
power develop't 10,111,611 9,967,244 5% cons. M. bonds 4,950,000 5,000,000
2,000,000 1,250,000
1,442,761 1,244,510 4%%(leb. stock
Machinery
101,485
784,431 Loans ag'st secur's 174,540
Transmission lines 804,752
233,908
170,117
Bills payable
Secur's other cos-,
163,156
162,673
855,649 Acc ts payable
dep. for deb.stk. 1,150,929
Accr'd bond Int.
Secur's other cos.
125,000
125,000
due Jan. 1
104,048
172,155
in treasury
65,000
65,000
43,833 Div. pay. Jan. 20_
Materials,sups.,&c. 40,207
27,798
36,503
fund
Contingent
227,350
231,236
Sundry debtors
175,000
140,000
Reserve fund
Am't avail, from
60,000
209,252 Sinking fund
secur's issued
7,151
1,570
Profit er loss acc't.
6,930
Prepaid charges
302,180
Cash & bills rec'le. 398,822
14,365,403 13,738,497
Total
14,365,403 13,738,497
Total
As to securities owned, compare V. 87, p. 343.-V.86. p. 454.
requests deposits prior to March 15 with the Girard Trust
Co. of Philadelphia as depositary or the First Trust & Savings
Bank, Chicago, as sub-depositary, of the outstanding first
mortgage bonds ($3,285,000), collateral bonds ("coupon gold
notes") dated 1905($715,000 outstanding; remaining $3,285,000 held by the trustee under the first mortgage), and
syndicate subscription certificates of 1907 ($2,500,000).
The syndicate certificates, per plan in V. 84, p. 995, were to be exchange (upon retirement of all the aforesaid collateral bonds) for 60%
($1,500,000) in 1st M. bonds and 40% ($1,000,000) In 6% debentures of
the Chicago Southern and 40% in the pref. stock and not less than 60%,
nor more than 100%, in the common stock of the Southern Indiana Ry.
Any plan for the reorganization or sale of the property separately or in
conjunction with the Southern Indiana By. must be submitted to the
depositors for their approval,and if within 30 days holders of 50% or more
of the deposited 1st M. bonds and collateral bonds do not dissent, the plan
shall be binding as to all the depositors of said bonds;similarly, if the owners
of 50% or more of the deposited syndicate certificates do not dissent, all
said certificates will be bound thereby.-V.88, p. 504.
GENERAL INVESTMENT NEWS.
Cleveland Short Line Ry.-New York Central Men as
Directors.-This belt line project, which, it is said, will inRAILROADS, INCLUDING ELECTRIC ROADS.
volve an outlay of $10,000,000 or more during the next
Alabama New Orleans Texas & Pacific Junction Railways two or three years (construction from Newburg to the Lake
Shore & Michigan Southern Ry. on the west being now
Co., Ltd.-Earnings.-This English company reports:
the control
Total GC11.Exp .cfo Deben. S.F.toExt Pf.A Div. Balance, about 75% completed) on Feb. 8 passed under
Cal.
clef.
or
Sur,
)%).
Income. Inc.Tax, Interest. Deb.Disc. (3
Yearof the New York Central interests with the election of the
:ur. £723
£145,990 114,892 £123,875 £6,500
1908
49,875 def. 1,795 following directors, all of whom are new except W. R.
6,500
123,875
11,492
189,947
1907
Adding the surplus (£5,823) carried forward from 1907, the total surplus Hopkins, one of the original promoters:
Dec. 31 1908 was £6,546.-V. 86, p. 601.
Alabama Terminal RR. of Birmingham.-Receivers.-See
Georgia Terminal Co. below.-V. 85, p. 344.
Atlanta Birmingham & Atlantic RR.-Receivers for Terminals.-See Georgia Terminal Co.below.-V.88,p.503,451.
Baltimore & Ohio RR.-Payment of Notes.-The principal
and interest of the $6,000,000 1-year 5% notes will be paid
on March 1 at the United States Trust Co., trustee(V. 86,
p. 479). The principal and interest of the $3,660,000 1-year
5% notes due March 2 1909 will be paid on that date at the
ew York Trust Co. (V. 86, p. 601). Compare V. 88, p.
451, 504.
Canadian Northern Ry.-Acquisition.-See Duluth Rainy
Lake & Winnipeg Ry. below.
Proposed Extension to Coast.-Vice-President D. D. Mann
is reported as saying that the company proposes to extend
its road from Edmonton to the western coast of Canada at
Vancouver, about 750 miles, crossing the Yellowhead Pass
and going down the south side of the Frazer River,the route
affording a water-level haul from Vancouver to the Pass,and
also to the Prairie country with the exception of one summit
it is necessary to cross.-V. 88, p. 230.
Canadian Pacific Ry.-Sale of Stock Confirmed.-An officer
of the road confirms the statement that the company has
marketed in London $3,984,000 common stock, raising the
amount outstanding to $150,000,000.
Investment in Canadian Government 33's.-The company,
it is announced, has purchased "$5,000,000 worth" of
Canadian Government 33'% debentures. President Shaughnessy is quoted as saying that the company had a surplus
at its command and knew of no better investment.-V. 88,
p. 504, 157.
Central Pennsylvania Traction Co., Harrisburg.-Installment Called-Dividend Declared.-The company has called
for the payment of an installment of $2 per share on the
stock, payable March 16, and has declared a dividend of $2
per share out of accumulated earnings to be credited in
payment of the call on the stock. The 42,000 shares of $50
each were at last accounts $21 paid up.-V.83, p. 491.
Chesapeake & Ohio Ry.-On Unlisted.-The New York
Stock Exchange has adinitted to quotation in the unlisted
department the United States Mortgage & Trust Co. interim
certificates for the $11,000,000 "general funding and improvement mortgage" 5% bonds sold in December last.
(V. 87, p. 1663.)
Officers.-The following changes are announced:
James H. Dooley, Richmond, Va. has been elected a director to succeed
H. T. Wickham and Frank Trumbull has become Chairman of the board.
An executive committee has been created, consisting of Edwin Hawley,
Frank A. Vanderlip, John W. Castles and Frank Trumbull, and President
George W. Stevens, ex-officio. James Steuart MacKle is now Secretary
and Treasurer -V. 88, p. 451, 294, 230.
President, W. C. Brown, President New York Central; Vice-President,
D. C. Moon, General Manager of the Lake Shore; F. J. Jerome, the New
York Central's General Attorney; W. H. Newman, a director of the
Central; W. R. Hopkins, Cleveland. Compare V. 86, p. 167; V. 83. 13•
271; V. 82, p. 1322; V. 81, p. 668.
Colorado & Southern Ry.-Full Board of Directors.-The'
board, recently reorganized in interest of C. B. & Q., is:
New Directors-George F. Baker, J. W. Blythe, W. P. Clough, George
B. Harris, James J. Hill, James N. Hill, Darius Miller, E. T. Nichols and
Daniel Willard.
Old Directors Re-Elected.-Grenville M. Dodge. Frank Trumbull, Edwin
Hawley and Harry Bronner.-V. 88, p. 504, 188.
Danville Urbana & Champaign Ry.-Report.
Gross
Cal.
Earnings.
Year$377,502
1908
356,497
1907
-V. 84, p. 338.
Operating
Expenses.
$204,320
188,975
Net
Earnings.
$173,182
167,522
Interest on
Bonds.
$113,350
105,251
Balance,
Surplus.
$59,832
62,271
Dayton & Michigan RR.-Trustee Formally Appointed.Joseph Rawson, who has been acting as trustee of the first
mortgage bonds ($2,728,000 outstanding) for some time past,
has been formally appointed trustee by the Court.-V. 87,
p. 1478.
Delaware & Eastern Ry.-Favorable Decision.-Justice
Bischoff in the Supreme Court in this city on Feb. 23 denied
the application of Joseph H. Holmes to continue, pending
the trial of the action, an injunction obtained by him exparte restraining the company and the Empire Trust Co.
from carrying out the terms of the contract for the construction of the road between the company and the Delaware
& Eastern Construction Co. Under the contract $4,700,000
bonds and $4,800,000 stock are to be delivered by the railroad company from time to time as construction progresses.
-V.87, p. 1300.
Delaware RR.-Earnings.-Charles Fearon & Co., Philadelphia, with a view to securing an increase in the dividend
rate, now 8% per annum, have prepared a statement showing that in the last ten years the net income applicable to
dividends amounted to $4;463,490, and of this sum stockholders have received in dividends only $1,941,671, or less
than 44%, the balance being diverted to other purposes.
It is claimed that the property is capitalized at far below its
real value, having but $2,987,225 of stock and a funded debt
of only $900,000. See further particulars in "Financial
Bulletin" of Philadelphia for Feb. 23.-V. 83, p. 1523.
Detroit United Ry.-Payment of Notes.-The $1,000,000
3-year 5% notes due March 1 1909 will be paid at maturity,
together with accrued interest thereon, at the Trust Co.of
America, 37 Wall St., New York.-V. 88, p. 448, 374.
Duluth Rainy Lake & Winnipeg Ry.-Canadian Northern
Owns Entire Stock-Directors.--The Canadian Northern Ry.
Co., we learn, owns the entire capital stock, but has not
assumed or guaranteed the bonds. Directors elected Feb. 3:
-President of Canadian Northern Ry. Co.). L. W.
D. B. Hanna (Vice
Chicago & North Western Ry.-Listed.-The New York Mitchell and J. D. Morton, all of Toronto, and Wirt H. Cook and W. D.
of Duluth. Compare V. 87, p. 1605, 1664.
Bailey
general
Stock Exchange has listed $10,000,000 additional
Erie RR.-Earnings.-For the 3 and 6 months ending
mortgage 332% bonds, making the total amount listed to
date $30,371,000; also the $3,750,000 Manitowoc Green Dec. 31:
Balance,
Other
Total
Operating
Operating
Three
Bay & Northwestern Ry. and $2,500,000 Milw. & State
Sur. or Def.
Income. Deductions.
Income.
Months- Revenue.
Line Ry. first mortgage guaranteed 33/2% bonds, all of 1908
___$11,286,741 $3,337,190 $289,808 $3,194,733 sur.$432,265
which were recently sold to Kuhn, Loeb & Co. Compare 1907 -__ 10,909,716 1,469,153 349,330 3,267,383 def.1,448,900
Six MonthsV. 88, p. 230, 294.
sur.771,511
1908 _....$22,294,28O $6,707,608 $538,015 $6,474,112
Purposes for Which the $10,000,000 Listed Were Issued
To pay for cost of elevation of tracks, construction of second
$4,036,000
track and additional right of way
5,964,000
Issued in exchange for an equal amount of prior existing bonds
1907 ____ 23,477,808
-V. 88, p. 231, 100.
5,224,174
618,205
6,270,652
def. 428,2 '
Georgia Terminal Co. of Atlanta.-Receivership.-Judge
A. Pardee, in the United States Circuit Court at New
Don
31:
Dec.
ending
months
6
Earnings.-For
on Feb. 15 appointed as receivers of this company
Orleans,
Fixed
Balance.
Other
Net
Taxes
Operating
six
Income. Charges,&c. Surplus. and also of the Alabama Terminal RR. of Birmingham and
Revenue.
Paid.
Months. Revenue.
Bessemer, Henry M. Atkinson and Preston S. Arkwright,
1908 __35,359,967 13,645,602 1,380,000 1,358,459 4,456,543 9,167,518 the receivers of the Atlanta Birmingham & Atlantic RR.
1907 ____36,136,714 12,217,914
Compare the last-named company in V. 88, p. 156, 99.-V. 88, p. 504, 374.
Chicago Southern Ry.-Bond and Security Holders' Pro- V. 88, p. 158.
tective Committee.-Under an agreement dated Dec. 17 1908
Grand Trunk Pacific Ry.-See Grand Trunk Pacific
the committee, consisting of
Branch Lines Co. below.-V. 88, p. 505, 451.
Melvin
York;
New
of
Anton
G. Hodenpyl
Christopher D. Smithers and
Grand Trunk Pacific Branch Lines Co.-Proposed Lines
Blunt Jr. of Chicago,
B. Johnson, Cleveland; Emile K. Boisot and John
with Silas W. Howland, Secretary, 24 Broad St.E'New York City, with of Railway, &c.-Notice is given that the company will apply
and
Byrne & Cutcheon and James C. Hutchins as Cotinsel for committee.
to the Parliament of Canada, at the present session, for an
Rosenthal as counsel for syndicate subscribers,
Merritt Starr and Lessing
564
TII
CIIRONICLE
Act amending its Act of incorporation by empowering the
company to construct and operate the following lines of
railway and to issue bonds, debentures or other securities in
respect thereof to the extent of $30,000 per mile:
(1) From the Grand Trunk Pacific Ry. west of Pembina Crossing,
Province of Alberta, southwesterly to the Embarras River, and thence
southerly towards the head waters of the Little Pembina River about
100
miles; (2) From the Grand Trunk Pacific Ry. along the Embarras River
southwesterly towards the McLeod River about 25 miles; (3)
From a point
on the company's authorized line between Calgary and Coutts southwesterly
to McLeod, thence via Pincher Creek to the western boundary
the
Province of Alberta about 100 miles. [The Alberta SouthwesternofRy.,
mentioned in V. 88, p. 295, was projected to build this line.-Ed.1 (4)
From or near Regina westerly to Moosejaw, about 45 miles.-V.88, p. 295.
WoL. Lxxxvm.
tion of Edward B. Smith & Co., referred to in V. 88, p. 374,.
these being the bonds mentioned in last week's issue as having been deposited. The counter proposition of the American Railways Co. was outlined in V. 88, p. 505.
Reorganization Committee.-At a meeting of the bondholders on Friday at theoffice of Edward B.Smith & Co., at
which considerably more than a majority of the bonds were
represented, the following reorganization committee was
appointed.
William R. McAlvin, F. W. Roebling, Holstein de
Haven, John C.
Bell and Chas. S. W. Packard.-V. 88, p. 505.
Iowa Central Ry.-Listed.-The New York Stock ExGrand Trunk Ry.-Earnings.-For half-year ending Dec.31
change has listed $400,000 additional "first and refunding''
(approximate in 1908):
mortgage 4% 50-year bonds, making the total amount listed
Half-Year to
1908.
1907.
1908.
1907.
Dec. 31£
£
to date $4,970,000, and has authorized $550,000 additional
Gross recelpts„3,382,800 3,763,246 Bal. for half-yr_ 441,400
527,175 from time to time prior to Jan. 1
Operating exp_2,422,400 2,710,934 Brought In
1910 on notice of sale,
1,600
14,640
making the total amount authorized to be listed $5,520,000.
Net receipts__ 960,400 1,052,312
Divisible_ bal_ 443,000
541,815
The bonds listed and to be listed are all to be issued for
OhgF.,less credits 478,700 470,557
Guar. dividend_ 196,600 171,493 additions, improvements and equipment.
Balance
481,700
581,755 1st pref. div. _(5)170,800(23)8
5,420
Earnings.-For 6 months ending Dec. 31:
3,100
G. H. & Mil. sur.
5,785 2d pref. div_ -(2 M)63,200(2)63
,210
Can. Ati. deficit_
43,400
SIX
Gross
60,365 3d pref. div
Net (over
Other
(3)214,939 MonthsFixed
Balance,
Earnings.
Taxes). Income. Charges. Deficit.
BaLfor half-yr 441,400
527.175
1908
$1.,535,094 $314.713 $64.736 5415,286 $35,837
Bal. forward..
12,400
6,753
No dividends having ty.en paid on the preference shares for the first half 1907
1,619,085
525,685
of the calendar year, the dividends shown above are those declared for the -V. 88, p. 452.
entire calendar year 1908. These compare with 5% each on the first
and.
Louisville Ry.-Report.-For year ending Dec. 31:
preference shares and 3% on the third preference shares for the full calendar year 1907. Compare also V. 87, p. 480, 414.
Net(after Other Int. Paid Pref.Div, Common Bal.,
Gross
Cal.
The gross receipts for the calendar year 1908 were £6,302,000 (approxi- Year,
Earnings. Taxes). Income. ee Accrued. (5%).
Div.
Surp.
mately), against £7,144,506 (actual) in 1907; net, applicable to
$989,350 $44,202 $380,210 $125,000 $524,817 $3,525
dividends, 1908 ___$2,714,353
Including guaranteed stock, 1621,500, against £842,495 in 1907:
1907_ 2,510,734 814,730 85,467 368,126 125,000(3%)371.737 35,334
over dividends paid, £5,300, against deficit of £6,477 in 1907.-V.surplus
-v.
544.
87,
p.
87, p.
1533.
Memphis (Tenn.) Street Ry.-New ficers.-Major E. E.
Wright has been elected Vice-President to succeed John H.
Watkins, and James E. Beasley has been made a director,
succeeding Joseph H.Thompson, of Nashville.-V.85, p.654.
Metropolitan Street Ry., New York.-Courts to Review
Joint Rate Decision of Commission.-The Court of Appeals
on Feb. 23 affirmed the decision of the Appellate Division
of the Supreme Court denying the application of the Public
Service Commission to vacate the order to show cause why
a writ of certiorari should not be issued to review the order
of the Commission making a joint 5-cent rate with the Central
Park North & East River RR. Compare V. 88, p. 231; V.
87, p. 1301.
The total authorized issue of $2,486,000 6% prior lien mortgage
bonds is made pursuant to an agreement of Sept. 30 1908 between gold
Listed.-The New York Stock Exchange has listed $186,000
the
GOvernment of the Republic of Ecuador, the Railway Co. and the Council
of Foreign Bondholders, which was approved Nov. 1 1908 by the Congress additional refunding 4% bonds, issued chiefly to take up
of Ecuador, subject to certain slight modifications. Under the agreement $150,000 debenture bonds of the Twenty-Third Street Ry.
the holders of the outstanding railway bonds (originally $12,282,000, but Co., making the total
amount listed to date 516,604,000.reduced by the sinking fund to $10.808,000) consent to the issue of the
$2,486,000 6% prior lien bonds having a lirst charge on the whole of the V. 88, p. 506, 452.
customs revenue of the Republic of Ecuador and on the Railway Co. and
Mexico Tramways.-In Control.-Sce Mexican Light &
all Its properties.
The above-mentioned agreement and the trust deed to secure the present Power Co. under "Industrials."
ssue (the Government of Ecuador being a party to both) contain the
Subscriptions.-It is said that of the issue of $1,250,000
following features: (1) The Government of Ecuador unconditionally guarantees the payment of principal, Interest and sinking fund on the bonds by 6% mortgage bonds offered recently in London at 963/2, only
preferential
customs
a
lien on its entire
revenue, and undertakes that after
Dec. 31 1908 there shall exist no charge on the customs revenues in priority about 30% was taken by the general public. Compare V. 88,
to or ranking part passu with that assigned to the prior lien bondholders, p. 452, 375.
and that it will not in future constitute any charge on such revenues to
Mineral Wells (Tex.) Street Railway & Electric Light
the prejudice of the bondholders' rights. The banks in which these revenues are deposited are to set aside daily from Jan. 1 1909 without inter- Properties.-Sold.-At judicial sale in Mineral Wells on
mission the necessary quota of the annual debt service, and remittances
are to be made each fortnight to the bankers in London charged with the Feb. 1 the several properties were bid in by D. T. Bomar of
service of the bonds. Cable advice has been received from the Banco Fort Worth for $75,000. Compare V. 85, p. 1462.
Comercial y Agricola at Guayaquil that the first and second fortnightly
quotas, amounting respectively to $35,486 and $37,673, have been remitted
MismeapolisE& St. Louis RR.-Map of "Hawley" Lines.to Glyn, Mills. Currie & Co. (2) The Council of Foreign Bondholders, as An interesting map
showing the lines controlled by the
holders of $1,000 special voting stock, and representing the railway bondholders, are entitled to, and will in due course, appoint three directors of Hawley interests has been prepared by Fisk & Robinson in
company.
the
connection with their circular offering Minneapolis & St.
The $2,486,000 prior lien bonds are to be applied as follows: (a) Retirement of existing $233,000 "special series" bonds; (b) Expenses connected Louis 4s to retire the Iowa Extension 7s. The map and
with tile agreement, $130,000 bonds; (c) Necessary working capital, circular may be had on application.-V. 88, p. 506, 452,
$362,000 bonds; (d) New roiling stock and completion, repair and improvement of railway, ecc., at least $588,000 bonds; (a) Payment of amounts
Minneapolis St. Paul & Sault Ste. Marie Ry.-Leased Line
due for materials, labor, eee.
The railway Is 288 miles in length. It was opened for traffic throughout Certificates.-See Wisconsin Central Ry. below.-V. 88,
In June 1908 and has been regularly working since then. The railway
has p. 158.
not been opened long enough to afford any proper Indication of its true
National RR. of Mexico.-Notice to Pre/erred Shareholders.
earning capacity. The gross receipts from Sept. to Dec. 1908, as reported
by cable from Ecuador, show a monthly average of 138,993 sucres, or,
say, The readjustment managers give notice by advertisement on
£13,899 per month. The amount which the Government guarantees
to another page that no deposits of preferred stock will
remit to London annually is $859740; interest on $2,486,000 prior lien
be
bonds is $149.160, and 2
sinking fund, $62,100; total, $211,260; received under the plan after March 1.-V.88, p. 452, 375,
leaving a surplus per annum in Government guarantees over the
amount
necessary for the service of the prior lien bonds (which is applicable for the
New Orleans Terminal Co.-New Notes Sold, Chiefly for
service of the general series of railway bonds) of $648,480.
Refunding.-Potter, Choate & Prentice, New York, having
Customs Revenue of Government of Ecuador during Years 1904 to 1907.
sold over three-fourths of the new issue of $3,000,000 2-year
1906.
1907.
1905.
1904.
$4,901.444
$4,137,240
5%
notes, guaranteed jointly and severally, both as to
$4,066,000
$4,020,670
__17. 87, p. 1478.
principal and interest,by endorsement, by the Southern Ry.
Huntingdon & Broad Top Mountain RR.& Coal Co.-New and St. Louis & San Francisco RR., offered the
remainder
Olficer.-J. A. Pfouts has been elected Secretary and this week at 1003/2 and interest, yielding 43
4%. Thesenotes
Treasurer to succeed J. P. Donaldson,who resigned.-V.88, are dated April 10 1909 and are due April 10 1911.
Interest
p. 451.
payable April 10 and Oct. 10. Empire Trust Co. New York,
Illinois Traction Co.-Report.-For calendar year:
trustee. It was announced yesterday that
'the entire
Cal.
Gross
Interest on Pref. Div. Balance, amount had been sold. A circular says:
" Net
Guayaquil & Quito Ry., Ecuador.-Bonds Offered.-This
New Jersey corporation has made a mortgage dated Dec. 8
1908 to the Windsor Trust Co. of New York,as trustee, to
secure an issue of $2,486,000 6% prior lien mortgage gold
bonds due Jan. 2 1930, but redeemable at par for an accumulative sinking fund of 2
per annum; also redeemable at
any time at 105% on 6 months' notice. Interest payable
Jan. 2 and July 2 in London at Glyn, Mills, Currie & Co.
and also in New York. These bonds rank ahead of the
existing $10,808,000 first mortgage bonds. Of the new issue,
$2,253,000 were offered at 90% in London from Feb. 15 to
18 on behalf of the contractors for the loan. An adv. says:
YearEarnings.
1908
$4,098,621
1907
3,770,187
-V. 88, p. 451, 374.
Earnings.
$1,744,497
1,650,699
on Bonds.
$1,201,895
985,631
(6%)
$201,953
201,953
Surplus.
$340,649
463,115
Authorized issue $3,500,000, of which $2,500,000 are issued to retire
a like amount of notes maturing April 10 1909; $500,000 for additional
improvements and the remaining $500,000 are held in the treasury.
This issue of notes s secured by a deposit with the trustee of $5,000,000
New Orleans Terminal Co. first mortgage 4% bonds, due 1953, guaranteed
jointly and severally, both as to principal and interest, by endorsement on
each bond, by the above-mentioned roads. At the present market price
the value of the collateral amounts to $4,200,000. she property consists
of about 49 consecutive blocks in the heart of New Orleans, on which
site
a substantial passenger terminal has been erected; also about 5,500 acres
of land on the east bank of the Mississippi River, with a river frontage of
about 23i miles, upon which are the Port Chalmette terminals, with arge
wharfage and storage facilities, Including a gra n elevator with a capacity
for handling 500,000 bushels of grain, besides other valuable improvements
and leases. The company owns about 63 miles of track ,connecting with
seven roads entering New Orleans. Compare V. 86, p. 721,
Interborough Rapid Transit0o.,New York.-More Express
Trains to Brooklyn.-On Feb. 24, with the completion
of the changes at Bowling Green necessary to permit of a
shuttle service between that point and South Ferry, the
company began running all of its express trains during rush
hours to Brooklyn. This, it is said, increases fully 25% the
accommodations for through passengers, the headway during rush hours being 13
% minutes instead of about 2 minutes.-V.88, p. 505, 371.
New York Central & Hudson River
Interstate Railways.-Listed.-The Philadelphia Stock -The U. S. Supreme Court on Feb. 23RR.-Rebate Decision.
affirmed the decision
Exchange has placed on the unlisted department $5,415,500 of the U. S. Circuit Court for the Southern
of New
of Philadelphia Trust, Safe Deposit & Insurance Co. certifi- York, imposing a fine of $108,000, on six District
counts, on the
cates of deposit, issued against deposits of the company's charge of granting rebates of 5 cents a hundred
pounds in
collateral trust 4% bonds. in accordance with the proposi , 1903 to the American Sugar Refining Co. on sugar shipped
FEB. 27 1909
THE CHRONICLE
from New York to Detroit, and a further fine of $26,000 on
account of rebates of 6 cents a hundred pounds on sugar
sent to Cleveland.-V. 88, p. 506, 375.
New York Chicago & St. Louis RR.-Listed.-The New
York Stock Exchange has listed $5,000,000 additional 25year 4% debentures of 1931, making the total amount listed
$10,000,000. Compare V. 82, p. 693; V. 86, p. 1344, 1590.
Earnings.-For year ending Dec. 31:
Calendar
Year-
Gross
Net
Other lstChges. Sink. Pref. Balance,
Earnings. Earnings.Income. &Taxes. Fund. Divs. Surplus.
1908
9,435,557 2,418,958 55,335 1,443,384 43,000 800,000 187,909
1907
10.465,671 2,703,772 19,213 1,322,315 99,640 800,000 501,030
Operating expenses in 1907 include $471,742 for new construction and
$421,842 for new equipment.
-V. 88, p. 506.
New York-Philadelphia Co.-Majority of Securities Deposited.-A majority of the company's securities has been
deposited with the Windsor Trust Co., New.York, under the
agreement of the protective committee below named, and a
reorganization plan, it is expected, will be issued within two
or three weeks.
The committee consists of John A. Young, Winthrop E.
Scarritt and Harlan W.Whipple (with G. D. Bruce,2 Rector
St., New York, as Secretary), and it represents the holders
of the first collateral trust 5% gold bonds [issue limited to
$4,000,000, of which at last accounts $600,000 was outstanding.-Ed.1 and the holders of an issue of notes secured
by a portion of the said issue of bonds. Under the terms of
the agreement the depositors agree to be bound by any plan
approved by the committee.-V. 86, p. 1467.
Peoria & Eastern Ry.-No Interest for Income Bonds.The annual interest payment due April 1 on the $4,000,000
4% non-cumulative income bonds was not earned during
the late calendar year, and the officials state will, therefore,
be omitted. From April 1 1902 to 1908, both inclusive,
the full 4% was paid.-V.88, p. 296, 975.
Pittsburgh McKeesport & Westmoreland Ry. Co.-ilcquisitions.-President Manning Stires, McKeesport, writes:
This company will take over the Pittsburgh & Westmoreland By. Co.
(V. 87,p.142 t),exchanging bond for' bond,with the exception that the coupons for three years from Dec. 1 1908 have been removed and placed with a
fiscal agent for collection or cancellation, as the case may be, depending
upon the sufficiency of earnings. The company has also taken over the
Donora & Eldora Street By. Co., 3 M miles long, in course of construction
from Donora to Eldora,connecting with the Charleroi division of the Pittsburgh Railways. We expect to connect up these two systems by way of
Herminie, West Newton and Webster.
The capital stock is $2,000,000 authorized, of which $100,000 has been
issued and the authorized bonded debt is $2,000,000, of which $559,000 has
been issued, including the bonds given in exchange for the bonds of the
Pittsburgh & Westmoreland By. Co., the other bonds going for the new
construction.
The officers are: President, Manning Stires, McKeesport; Vice-Pres.,
I. I. Robertson, West Newton; Treas., George D. Cook, 25 Broad St.,
New York; Sec., R. W. Hervey, Monongahela.
Pittsburgh & Westmoreland Ry.-Successor-Exchange of
Bonds.-See Pittsburgh McKeesport & Westmoreland Ry.
above.-V. 87, p. 1421.
Rome (Ga.) Railway & Light Co.-New Bond Issue.The company has been authorized to issue $750,000 of 5%
bonds dated Jan. 1 1909, of which $500,000 are for refunding
and $250,000 for extensions and linprovements.-V. 88,
p. 101.
St. Louis Iron Mountain & Southern Ry.-No Interest
on Income Bonds of Texas do Pacific Ry.-See that company
in V. 88, p. 507; $23,668,000 of these bonds are held by the
St. Louis Iron Mountain & Southern Ry. Co.-V.87, p. 679,
167.
San Pedro Los Angeles & Salt Lake RR.-Bonds Offered.
-Kissel, Kinnicutt & Co., 37 Wall St., New York, have
issued a circular (with map) describing the bonds of this
ally of the Union Pacific Co., a block of which they are offering.-V. 86, p. 286.
Seattle Electric Co.-Bonds Called.-Four ($4,000) first
"mortgage 5% gold bonds, namely, 188, 210, 232 and 365,
of the Seattle Ry., have been drawn for redemption on
May 1 at 110 and interest at the office of the Boston Safe
Deposit & Trust Co., Boston, Mass.-V. 87, p. 814.
Selma (Ala.) Street & Suburban Ry.-Change in, Control.This company, owning 8 miles of track and having outstanding $125,000 each of stock and bonds, has passed under
the control of the American Pipe & Construction Co. (recently Am. Pipe Mfg. Co.) of Philadelphia, or interests associated therewith, already controlling the Selma Lighting
Co. (capitalization $100,000 stock and $200,000 5% bonds,
due July 1 1932). The new officers are: Joseph S. Keen
Jr., President and Treasurer; George M. Bunting, Vice-President; H. B. Hodge, Secretary, all officers of the American
Pipe & Construction Co.(V. 88, p. 377).-V. 74, p. 1140.
Southern Indiana Ry.-See Chicago Southern Ry. above.
-V. 87, p. 1238.
Southern Ry.-Sale of Bonds.-The company, it was announced yesterday, has sold to a syndicate headed by J. P.
Morgan & Co. $21,0001000 "development and general mortgage" 4% bonds, due in 1956, the proceeds of which will be
used to take up the $16,000,000 5% collateral trust 5-year
bonds maturing April 1.
The collateral under the 5-year bonds, which has a par value of $26,086,325 (V. 78, p. 2385), will be deposited as part security for the bonds
now sold (compare V. 82, P. 397; V. 80, p. 1468). The sale makes $41,000,000 of the development and general mortgage bonds outstanding.
Bonds Listed.-The New York Stock Exchange has
listed $328,000 additional first consolidated 5s, issued in
exchange for Charlotte Columbia & Augusta RR. first mort-
565
gage 5% bonds, making the total amount listed to date
$50,429,000, with authority to list from time to time prior
to Jan. 1 1910 $709,000 additional bonds as they may be
issued for the same purpose, making the total amount
authorized to be listed $51,138,000.-V. 88, p. 376.
Stephenville North & South Texas R.R.-Sale of HayInterest.-A half-interest in this 43-mile road, completed in
Dec. 1907 from Stephenville to Hamilton, Texas, has been
sold, it is said, to St. Louis interests. An extension is projected from Hamilton to San Antonio. B. C. Cage is still
President.-V,86, p. 338.
Toledo & Indiana (Electric) Ry.-Bondholders' Agreement.
-A first mortgage bondholders committee consisting of
R. R. Govin, Schuyler C. Schenck, Thomas H. Tracy, Benjamin L. Allen and Spencer D. Carr, announces by advertisement in a Toledo paper that the holders of a majority
of the ($1,650,000) first mortgage bonds have become parties
to a bondholders' agreement dated Feb. 9 1909, copies of
which have been deposited with the Ohio Savings Bank &
Trust Co. of Toledo, 0., and Knickerbocker Trust Co.,
New York City. Further deposits will be received for 30
days from Feb. 23.-V. 86, p. 858.
Underground Electric Rys., London.-Earnings of SubCompanies.-For half-year ending Dec. 31:
Last
Hall1908
1907
1908
1907
1908
1907
1908
1907
Baker Street & Waterloo Ry.
Net
Other Fixed -Dividends- Batince,
Passengers, Gross
Rev
Rev.
Income. Chges. Pref. ord. Surplus.
Number.
z
13,337,126 86,355 41,692 1,630 18,041 13,200 x9,834
2,247
706 17,545 13,200 4,470 ydef.9,186
10,662,876 69,249 25,323
Great Northern Piccadilly & Brompton Ry.
16,990,501 143,235 70,766 1,441 48,546 7,101 17,589
972
370 41,774 --[Not at hand.-Ed.]
13,914,779 119,271 48,518
Charing Cross Euston & Hampstead Ry.
284 31,840
5,268
13,015,363 94,067 36,824
_ ydef.5,627
127 18,728
9,881,357 74,328 12,974
Metropolitan District Ry.
31,503,722 261,874 108,006 31,631 128,024z10,938
675
25,808,732 224,463 68,394 28,488 131,273z10,938
def.45,329
Includes half-yearly dividend at rate of fi% per annum on 172,845 £10 ordinary
shares; also an additional dividend at rate of 24% per annum on 29,803 £10
ordinary shares held by shareholders other than the Underground Electric Itys. Co.
y Covered by surplus from p-eviius half-year or guaranty, or both.
a "Dividends on guaranteed stoek."-V. 87, p. 1664.
Union Pacific RR.-New Vice-President.-Robert S.
Lovett, Counsel to the company, has been elected VicePresident to succeed W. D. Cornish, deceased.-V. 88, p.
453; 296.
Virginian Railway.-Branch-Bonds.-The shareholders
will vote March 1 on making a contract with the Tidewater
Company for the construction of the Winding Gulf Branch,
23 miles in length, in Wyoming and Raleigh counties, West
Virginia. The cost of the line will be met by an issue of
$1,500,000 first mortgage 50-year 5% gold bonds.-V. 88,
p. 508, 102.
Western Pacific Ry.-Description of New Line to San
Francisco.-Blair & Co. are sending to their friends an illustrated pamphlet of 23 pages, prepared by a representative
of the Denver & Rio Grande RR., entitled the "Story of the
Western Pacific Ry." We make the following brief digest:
ConStruction, Grades, &c -Before Sept. 1909 there will be in operation
between San Francisco and Salt Lake City a new Pacific railroad, the most
remarkable in point of construction and (estimated) earning power which
the West has ever seen-the Western Pacific. In California a part of the
new road is already in operation, and the completed line will be open to
traffic early in 1909.
The maximum grade of the new road in no case exceeds 1 c;'-that is, a
rise of 52 feet to the mile. Westbound for 80% of its length °the heaviest
grade is only 4-10 of 1%,or about 20 feet to the mile.
Comparison Showing the Superiority of the Western Pacific as to Low Grades.
-Maximum gradient- -Total ascent (ft.)EastWestEastWestNo. of
bound,
bound.
bound.
bound.
Summits.
4.58%
17,163
16,428
2.2%
Canadian Pacific__ _2 summits
2.2%
15,987
15,305
2.2%
Great Northern__ _ _3 summits
2.2%
2.2%
18,337
17,643
Northern Pacific_ _ _3 summits
Unian PacificCent. Pac. to San
17,552
2.2%
2%
18,575
3 summits
Francisco
Oregon Short Line
17,171
18,171
2%
2.2%
to Portland_ _ _ _5 summits
34,126
33,543
6 summits
Santa Fe
3.5%
3.3%
9.385
5,076
Western Pacific__ _ _2 summits
1%
1%
As a result of its easy grade, the Western Pacific will be able to haul as
heavy a train over the summit of its line with one locomotive as the best
of other existing lines handles with three. There is a tremendous saving
not on y in the cost of operation, but in maintenance and cost of equipment
as well. The builders of the Western Pacific have adhered to the most
exacting standard, driving a tunnel where a tunnel meant a lower grade
or a shorter line, and putting in steel bridges and viaducts capable of
carrying the heaviest loads. True, the cost will come close to $60,000 a
mile; but this is low as compared with the initial cost of other lines plus the
expense of later improvements.
Traffic.-Northward, along the line of the new road, are the great timber, mining and cattle industries. Of timber alone there are more than
100,000,000 car-loads in the country tributary to the Western. Some of
the most productive gold fields of California are in the territory traversed
by the Western Pacific. There are also to be considered the manufactories
of the State, which use raw material to the value of over $125,000,000
annually and turn out over $360,000,000 in products. All this is without
consideration of the agricultural product of the State, which is greater in
value than all the others combined.
From Sacramento to Oroville the line runs up one of the greatest fruitgrowing sections of the country. This portion of the line south from Orovilla to Oakland is the part first opened to traffic, producing an important
income even before the road is finished.
Nevada is rich n mineral resources, and some of its most promising
districts lie along the route of the new road, including deposits of sulphur,
borax and salt, gold, silver and copper. Moreover, Irrigation has proved
that the soil of Nevada is as rich as any in existence: in the Truckee-Carson
river country the United States Government is reclaiming some 350.000
acres of land. The country which is traversed by the Western Pacific is
as rich in soil potentialities as any in Nevada.
Spring Garden, American, Indian, Mohawk and Sierra-these are but
a few of the valleys waiting for the railroad to move their freight. In
Spring Garden Valley. by the combination of a mile-long loop and a 7,300foot tunnel, the engineers have maintained the standard of a 1% maximum
grade and a snow-free route. Beyond Mohawk Valley, in a territory of
surpassing richness and beauty, the line crosses Sierra Valley to Beckwourth Pass and thence to western Nevada. At the northeast corner
of this valley a tract of some 67,000 acres underlaid by water easily reached
by means of artesian wells, and capable of great production, lies Beck-
Lxxxvm.
THE CHRONICLE
566
wourth Tunnel, 6,006 feet in length, giving on to the eastern slope of the
Sierras into Long Valley..
Just west of the State line, between Nevada and Utah, lies the great
Flower Lake Pass Tunnel. From the eastern end of this mile long tunnel,
on which occurs the highest elevation of the line, the road dips down Into
the great Salt Lake Desert, and runs eastward to Salt Lake City. On this
section occurs what is probably the longest stretch of straight and level track
in the West. Around the southern end of the Great Salt Lake the line
moves into Salt Lake City, 923 miles by the road from the Bay of San
Francisco.
Fine Terminals.-At San Francisco the Western Pacific holds exceedingly
valuable terminal properties on both sides of the bay. On the San Francisco side it has 269 acres, of which those devoted to the local freight terminal, 53 acres in all, are In the heart of the city, only seven blocks from
the City Hall. Connecting with this is the water-front equipment of
storage yards and docks,comprising 216 acres. On the Oakland side there
are 361 acres, and between the two lies the most direct passe across the
bay.
Little Snow; No Snowsheds.-There will be no snowsheds on the Western
Pacific. None will be necessary. During the winter of 1906-07 the snowfall
at Beckwith Pass on the Western Pacific for December, January and
February, the three worst months, aggregated only 21 inches, contrasting
with 284 inches at the summit of the nearest competing line. The Denver
& Rio Grande admittedly passes through most wonderful scenery. The
new Western Pacific, an extension of the same system, will be a close second
n this respect, and its snowless and snowshedless line will reduce the cost
of operation and attract travel.
Outlook.-No other section of the country is advancing in population,
wealth and products at halt the pace of those States included in the Pacific
group, and as a result no other road has such an assured initial income or
such a promising future as the Western Pacific. An important element of
strength will be the connection with the other lines of the great Gould
system. Compare V. 88. p. 102.
Wichita Falls & Southern RR.-Bonds.---The Texas Railroad Commission on Feb. 15 gave its approval to an issue
of $700,000 bonds on the company's 52-mile road from
Wichita Falls to the coal fields at New Castle, Young County,
Tex. Compare Wichita Falls Ry. in V. 88, p. 508.-V. 87,
p. 1012, 1480.
Wisconsin Central Ry.-Listed.-The New York Stock
Exchange has listed $46,000 additional first mortgage 4%
bonds issued for improvements, equipment, &c., making the
total amount listed $24,589,000.
Earnings.-For 6 months ending Dec. 31:
Taxes
Six
Other
Operating
Net
Fixed
Balance,
Months- Revenue. Revenue. Paid.
Income.
Charges. Surplus,
1908
$3,876,596 $1,383,626 $176,181 def.$28,600 $716,955 $461,889
1907
4.063,425 1,414,538 168,524
From the surplus as above for the six months in 1908 was paid quarterly
dividend No. 1 on the preferred stock, 1%, paid Dec. 23 1908, calling for
$112,671, and leaving $349,218 carried to credit of profit and loss account.
of any number of bonds and (2) the amounts of accrued
interest and dividends to be adjusted as of March 2 1909,
with the total net amount of cash payable "+" to and
"-" by the bondholders, in part, as follows:
Bonds.
$ 080
10,000
25,000
50,000
100,000
-For Face Value.(
7.
7
7Shar
Cash.
00) $63.84
37 ($3,700)
51.72
74 ($7,400) 103.43
186 (818,600) 124.84
373 ($37,300) 115.95
747 ($74,700)
98.16
Adjust Mch.2 '09.
Interest. Divs.
$0.11
$9.64
0.56
50.98
1.11
101.96
2.78
256.27
5.56
513.91
11.11 1,029.20
4.4.4
Total.
801
3421a...s335h.
C
319282..4605
"-" 919.93
Decision.-See Kellogg Switchboard & Supply Co.below.
-V. 88, p. 508, 453.
Associated Merchants Co.-Report for Half-Year.---For
half-year ending Feb. 1:
Div. on 1st Div. on 2d Div. on
Net
HalfExtra
Balance.
Earns. pf.(2 %%)• Pf.(3%). corn (3 5-6 O) Divs.
Surplus.
_09_ _$734,574 $150,442 $152,214 $214,906
119ea
08r2
150.940
1907-08 ___ 677,546
152,214
214,433 $116 823 $2,2
43
0,136
Extra dividends for the half-year in 1907-08 were % of 1%
, each on the
first and second preferred stocks and 1% on common stock. President
resuming
extra dividends (see below) it seems wise to
Ciallin says that in
carry this season's surplus income beyond regular dividend requirements
($216,000) to extra dividend accounts so that ample provision may be made
tariff
revision is pending.
for contingencies while
Extra Dividends Resumed.-The extra dividend of 34, of
1% which was paid quarterly on the common stock from
Sept. 1905 to Dec. 1907,both inclusive, but during 1908 was
omitted, has been resumed, payable March 1 along with
3 % quarterly to holders of record Feb. 24.the regular 14
V. 87, p. 812, 616.
Atlantic City (N. J.) Electric Co.-Report.-For cal. years:
Gross
Cal.
YearEarnings.
$993,594
1908
267,890
1907
-V. 86, p. 1102.
Oper.
Expenses.
$141,346
136,043
Net
Earnings.
$152,248
131,847
Interest
on Bonds.
$50,000
62,500
Balance,
Surplus.
$10
02
9:3
24
4
,
8
Atlantic City (N. J.) Gas & Water Co.-Option Expires.A Philadelphia paper on Feb. 9 said.
The option that certain parties had on a majority of the stock at $55 a
share has expired and those who agreed to dispose of their holdings have
been released. This offer was made for the purpose of securing control of
the Atlantic City Gas & Water Co., with a view of eventually purchasing
the Consumers' Gas & Fuel Co., the new and competing company at Atlantic
City. It appears the holders of the latter stock are averse to parting with
their shares. Compare V. 88, p. 377.
Leased Line Certificates Proposed.-In the negotiations for
the lease it is now proposed, subject to the approval of the
Bell Telephone Co. of Canada.-Report.-For cal. years:
Wisconsin Central stockholders, that the Minneapolis St. Cal. YearBal.,Sur.
Gross Earn.
Divs.(8%).
Net Earns.
$424,274
1908
$4
412
89
0;0
63
0
,
8
$1,000,000
$1,424,274
Paul & Sault Ste. Marie issue its 4% leased line certificates 1907
172,779
871,018
1,043,797
in the general form of the Illinois Central leased line stock, -V. 87, p. 91.
secured by the deposit of the preferred stock with the Bank
Boston Steamship Co.-Dissolution.-The shareholders
of Montreal during the life of the lease, 99 years.
voted on Feb. 15 to dissolve the corporation. The "Boston
The change has been made in the belief that a direct obligation of the News Bureau says:
"Soo" Line, with the right of the holders of the certificates to have
the deposited stock returned in case of default, will be regarded as more attractive
than a mere guaranty of dividends endorsed on the preferred stock.-V.88,
p. 508, 376.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Alabama Consolidated Coal & Iron Co.-Report.--For
fiscal year ending Oct. 31:
Net
Fiscal
Earnings.
Year$108,381
1907-8
657,986
1906-7
-V. 86, p. 1045.
Bond
Interest.
$113,179
113,775
Dividends
Pref. Stock.
(7%) $87,500
Bar-Slap.or DO'.
def. 1411118
sur.
American Blower Co., Detroit, Mich.-Consolidation.This company was incorporated on Jan. 15 1909 under the
laws of New York, with $1,500,000of authorized capital stock
($750,000 being preferred),in shares of $100 each, all subscribed, as a consolidation of the fan and blower business of
the old American Blower Co.,with factory at Detroit,and the
Sirocco Engineering Co., with plant at Troy. No bonds
provided for. The officers are:
President, Ja mes Inglis, recently President of old American Blower Co.
Vice-President and Treasurer, Charles H. Gifford; Vice-President, William
C. Redfield; Secretary, Fred. R. Still. Principal office. Detroit.
American Fork & Hoe Co.-All Bonds Called.-All of the
remaining $138,000 first mortgage bonds of 1902 have been
called for payment at the Citizens' Trust & Savings Bank,
Cleveland, on March 1, as follows: $54,000 at par and interest, being the regular sinking fund installment, and $84,000 additional at 103 and interest.
The company has $4,000,000 of authorized share capital (of which ha
Is 7% cumulative preferred), all outstanding except $52,800 common
Dividend rate, 7% on preferred and 4% on common since April 1905.V. 85. p. 656.
American Ice Co.-New Plan to Be Submitted.-Owing to
the temporary injunction, as modified, restraining the convertible feature of the plan to issue $3,000,000 of 5%mortsage bonds, the stockholders' meeting has been again adjourned, this time until Monday next, when it is expected
a new plan will be presented, omitting the convertible feature. .Argument on the continuance of the injunction was
to have been heard yesterday.-V. 88, p. 508.
American Pipe & Construction Co.-See Selma Street &
Suburban Ry. under "Railroads" above.-V.88, p. 377.
American Telephone & Telegraph Co.-Basis of ConversionThe company, anticipating applications to turn the cone
vertible bonds into stock under the option which will be
operative from March 2 1909 to Feb. 28 1918, both inclusive
(see advertisement in last week s "Chronicle and compar,
V. 88, p. 453; V. 87, p. 1606),has prepared in printed formr
for distribution a table of convertible bonds and theiequivalents in stock and cash at the present rate of con
version (namely ]par for the bonds and $133.7374 per share
for the stock. The table shows (1) the number of shares of
stock and amount of cash exchangeable for the face value
On Jan. 7 last the company sold to the United States Government its
steamships "Shawmut" and 'Tremont" for $1,213,282. The proceeds
were insufficient by about $300,000 to pay the indebtedness, and although
there was no obligation to do so, Kidder, Peabody & Co. handed to the
Treasurer their check for the amount required, in order that the indebtedness might be paid In full. The $530,000 5% bonds have already been
retired at par, as have also the $921,000 notes, leaving only minor current
expenses still to be paid. The stock, which was held mostly by a few
Individuals, will receive nothing in liquidation.-V. 85, p. 1515.
Calumet & Hecla Mining Co.-Settlement-Purchase.-Press dispatches announce that all differences between the
company and A. S. Bigelow have been adjusted,and that
details have been arranged for the transfer of all the Sears
Building holdings in the Osceola, Tamarack, Ahmeek,
Seneca, Isle Royale and Laurium properties to the Calumet
& Hecla Company, the number of shares involved being,
it is stated, about 125,000, and the amount involved approximately $8,000,000.
All litigation by Mr. Bigelow against the Calumet & Hecla will be withdrawn and the injunction restraining the voting of the 22,871 shares of
O ceola stork formerly owned will be dissolved and the annual meeting
of that company take place early next month, when the Calumet Company will elect its board under proxies recently solicited and assume the
management.
Notes Sold.-The company has sold to Lee, Higginson &
Co. of Boston $950,000 3-year 5% notes; also $1,000,000
10-year 5% notes callable in three years or thereafter at par.
The firm, it is said, has re-sold the entire amount.-V.88, p.
377.
Cambridge (Mass.) Electric Light Co.-New Stock.-The
Massachusetts Gas & Electric Light Commission has sanctioned the issue of $20,000additional capital stock.-V. 85,
p. 1340.
Central Leather Co.-Report.-See "Annual Reports.
Board Reduced.-The number of directors has been reduced from 17 to 15, H. P. Darlington and J. Ogden Armour
retiring.-V. 86, p. 796, 549.
Consumers Gas & Fuel Co., Atlantic City, N. J.-New
Stock and Bonds.-This company, incorporated in New
Jersey in 1905, now has outstanding or shortly to be issued
$1,000,000 of its $1,500,000 capital stock (all of one class,
par of shares $25); also $300,000 of its $1,000,000 first consol.
gold 5s, the remaining $700,000 being reserved to retire at
or before maturity a like amount of underlying bonds.
The new bonds are dated Feb. 1 1900 and are due Feb. 11959, but are
subject to call at any interest period at 105 and interest. Interest payable
F. & A. at Girard Trust Co., Philadelphia, trustee. Denomination, $1,000.
See also V. 88, p. 378.
Dominion Cotton Mills Co.-Lease Held Invalid.--See
Dominion Textile Co. below.
Dominion Textile Co., Limited, Montreal.-Lease of
Dominion Cotton Mills Held Invalid.-Justice Demers at
Quebec on Feb. 17, in the suit brought by Geo. E. Aymot
and F. D. Mathys, minority stockholders of the Dominion
Cotton Mills Co., representing, it is said, holders to the
amount of $290,000, held invalid the lease to the Textile Co.
FEB. 27 1909.]
THE CHRONICLE
567
Kentucky Electric Co., Louisville, Ky.—Bond Issue.—
under the resolution dated Nov. 10 1905. The latter owns
A
Mills
mortgage has been filed to the United States Trust Co. of
Cotton
Dominion
about nine-tenths of the $3,033,000
as trustee, to secure an issue of $500,000 first
Louisville
taken.
be
will
stock. An appeal, it is thought,
gold bonds dated 1909 and due in 1924. The
5%
'
of
property
mortgage
the
that
fact
The Court refers, among other things, to the
was to be "Louisville Times of Feb. 13 said:
the Cotton Mills Co., which under the terms of the agreement
working
returned to the company after 20 years, was calculated to have a the time
The Kentucky Electric Co. bought a franchise on August 31 1906, to
capacity of 15 years only, so that nothing could be returned at will have cover the entire city, paying $100,150 for the privilege. Under the fran
mentioned. If the judgment is allowed to stand, the Cotton Co. Compare chise current was to be supplied within two years in the underground disto be run as a separate company under its own management.
trict from Main St. to Broadway and from 1st to 8th streets. Delayed
annual report in V. 86, p. 1588 and V. 80, p. 2347; V. 81, p. 1377, 1552.
Yuille, ten months by legal proceedings, the company did not begin work until
[Some weeks ago it was reported from Montreal that PresidentLondon June 1907. It began operation, however, last August. Voluntarily it
in
sold
had
presumably acting for the original purchasers,
Co. has already built 10 miles of pole lines beyond the conduit zone. The
$1,000,000 of the $5,000,000 common stock of the Dominion Textile
more at company is capitalized at $600,000, which amount has been judiciously
and had given an option for 30 days from Feb. 3 on $2,000,000
R. spent in the construction of a modern plant and distributing system.
Charles
68 g. No official con irmation, however, is obtainable.
Samuel [The officers are: R.E. Hughes, President; Lawrence Jones, First ViceHosmer was recently elected a director to succeed the late
President; Charles J. Doherty, 2d Vice-President; Bryan H. Allen, Secretary
Carsley.—Ed.]—V. 86. D• 1588.
and Treasurer.—Ed.] Compare V. 83, p. 893; V. 84, p. 1251; V. 86, 1).
.,
Corporation
1592. 232.
Georgia Manufacturing & Public Service
Lackawanna Steel Co.—Two-Year Notes to Be Paid.—All
Marietta, Ga.—Bankrupt.—Judge Newman in the United
States Court at Atlanta on Feb. 4 approved the report of of the $5,000,000 outstanding 2-year 5% secured gold notes
Special Master George D. Anderson, and adjudged the com- dated March 1 1907 will be paid at maturity Marcia 1 at the
office of the Central Trust Co., New York.—V. 88, p. 379.
pany bankrupt.
receiver in
On August 1 1908 James T. Anderson of Marietta was madematter
Laclede Gas Light Co., St. Louis.—Dividend Increased.—
was
a petition of involuntary bankruptcy, but ten days later the
liabilities The directors yesterday declared a quarterly dividend of
referred to the Master. The assets are stated as $1,316,430, while
are put down at $1,459,876.
9% on the $8,500,000 common stock, payable March 15
13/
Goldfield Consolidated Mines Co.—Dividends Resumed.— to holders of record March 6. This increases the annual rate
per
to 6%, contrasting with—
The directors on Feb. 25 declared a dividend of 30 cents
DIVIDENDS.-1 '95 to '97. 1898. 1899. '00 to '03. '04 to '07. 1908
share, payable April 30 on stock of record March 31. This
5 yearly. 5
7
5 yearly.
re5
The
8
Preferred, 5% cum
is the dividend foretold by the last annual report.
5 yearly. 5
4 yearly.
0
3
3
Common(%)
port submits the following figures and says:
Co.—
American
is
North
by
company
the
The
controlled
Value.
No. Tons. Gross
Production of mines of Co. during the year.—
$1,359,895 V. 88, p. 509, 297.
32,755.82
First class ores, averaging $41 50 per ton 76 per
Second class ore, averaging value of $7
95,100
Louisville Lighting Co.—Decision.—Judge Shackelford
12,254.00
ton, placed on reserve dump
in the Jefferson Circuit Court on Feb. 3 in three test
Production of leasces operating on the property,25,539.66
945,196 Miller
averaging $37 01 per ton
suits brought by consumers held that equal rates must be
$2,400,191 charged to all consumers when the cost of supplying the
70,549.48
Total
tons containing $1,145.
[The combination 20-stamp mill treated 28,473
service is the same. An appeal will be taken to the State
158, or $40.218 per ton.]
the fact that only the Com- Court of Appeals. The opinion is given in full in the "LouisThis relatively small production was due to
No attempt has been made at ville Courier' of Feb. 4.
bination mine and mill were in operation.
the capacity of the Combination mill, although developproduction beyond
new mill will effect a.
ment work of magnitude has been prosecuted. The
of shipping. The outsaving of $2,000,000 per annum over the expenses
ensuing year not less
the
during
the
company
net
put hereafter ought to
than $550,000 per month. Compare V. 86, p. 1464.
Grayson, McLeod Lumber Co. of St Louis.—Bonds
Offered.—Francis, Bro.1& Co. of St. Louis offer by advertisement on another page,at prices yielding 6%,the whole or
any part of the unsold $238,000 serial first mortgage 6%
$1,000 gold coupon bonds of various maturities, guaranteed
by endorsement by Wm. Grayson and Nelson W. McLeod.
Date July 11907. Total issue $600,000, of which $60,000
have matured and been paid, leaving $540,000 outstanding.
Interest payable Jan. 1 and July 1 at the Mississippi Valley
Trust Co., St. Louis, trustee. The advertisement says:
The bonds are secured by a first mortgage on 80,113 acres of land in Clark
and Pike counties, Ark. with an amount estimated at 381,910,000 feet of
log scale short leaf yellow pine merchantable timber standing thereon
(valued at $3 per thousand, equaling $1,145,730), and also on the Grayson
Mills on the property, with all improvements, buildings and fixtures, including tram roads, tracks, sidings, &c. constructed at a cost of $600,000,
The
and constituting one of the most complete plants in the United States. and
company is required to cut 15,000,000 feet of timber each 6 months
first.
beapplied.
to
cuts,
timber
all
for
feet
1.000
a
per
pay into sinking fund $4
to the payment of the maturing bonds and then to the retirement of other
bonds, to be called at 103 and Interest. By operation of the sinking fund
the entire issue will mature or be paid within less than 5 years, $120,000
bonds being retired yearly.
Hammond Packing Co.—Arkansas Anti-Trust Law Sustained.—The United States Supreme Court on Feb. 23
(Justice White writing the opinion) affirmed the decision of
the Supreme Court of Arkansas, which upheld the fine of
$10,000 imposed on the company by the Circuit Court of
Pulaski County for refusing to produce its books in a proceeding brought to oust it from the State for violation of the
'State anti-trust law of 1905.
with other packers
The company was charged with having consp red ity
of which is susconstitutional
to fix the price of meat. The law, the
Justice White
each
for
offence.
$500
to
$200
of
fine
a
for
tained, provides
and to be preof
day
the
light
in
live
to
says it is the duty of a corporation proceedings to its creator, the State."
pared at any time "to exhibit its
V. 77, D. 92.
Hudson River Water Power Co.—Overdue Coupons.—The
receivers have applied for permission to pay the Nov. 1 1908
coupons on the $2,000,000 first mortgage bonds, dated 1899,
Trust Co. of America, trustee (V.86, p. 1097; V. 88, p.229).
—V.88, p. 234, 55.
Kansas Natural Gas Co,—Earnings.—For calendar year:
Dividends
Gross Op.Ex.,Rents Int.,Rent
Cal.
Paid.
Earnings. & Taxes. L'sedProp.,&c.
Year—
$3,892,026 $834,205 $1,509,185 (5%) $660,000
1908
1,028,246
784,206
3,019,519
1907
—V.87, p. 1302.
Balance,
Surplus.
$888,636
1,207,067
The company:charges customers for electricity 10 cents per kilowatt
hour in districts in which no competition exists, but claims to have the
right to take a lower rate, 5 cents, from other customers in territory where
"a general active, present competition", or a potential or promised competition" exists, on the ground that such competition (by the Kentucky,
Electric and other companies and individuals) takes the districts concerned out of the operation of the general rule that consumers similarly
situated and affected by similar conditions shall be equally treated. The
Court says: "Defendant may charge all its customers either a 10-cent rate
or a 5-cent rate, or may charge a higher price to the one customer where
the cost of service to him is higher; but, being a public-service company,
It must treat all customers alike when the cost of service is the same. Any
other rule would place the existence of one's business at the caprice of
public-service companies. * • As the businessman cannot discriminate
between his customers by the universal laws of trade, he can be protected
only by requiring the public-service company to likewise obey those laws
and treat all of its customers alike."
The effect of the litigation, it is claimed, will be to establish the 5--cent
rate for electricity throughout the city.—V. 86, p. 1103.
The Court of Appeals on Feb. 17 by a vote of 5 to 2 pending
decision,
a hearing on the merits of the appeal from the above'
in order that injustice to either party may meantime be
avoided as far as practicable, decided: •
That the injuncton be left in force as to the territory where potential
competition is anticipated, but dissolved as to territory where there is
actual competition, the company being permitted to charge 10 cents per
kilowatt for electricity furnished to the plaintiffs, provided it does not
charge others in territory where there is no actual competition a less sum.
—V.86, p. 1103.
Manufacturers Light & Heat Co., Pittsburgh.—New
President.—Director E. H. Jennings has been elected President to succeed H. B. Beatty. Mr. Beatty will remain on
the board.—V. 88, p. 503.
Massachusetts Lighting Companies.—New Trustee.—ColFrank S. Richardson of North Adams has been elected a
trustee.—V. 88, p. 234.
Mergenthaler Linotype Co., New York.—Purchase Approved.—The shareholders on Feb. 23 voted to purchase
(1) not less than a three-quarters interest in the British
Linotype & Machinery, Ltd. (and with it the Canadian linotype business and assets), not more than $1,750,000 stock to
be issued therefor; (2)the whole of the stock, or a controlling
interest, in the Mergenthaler Setzmaschinen-Fabrik, G. M.
B. H, on the basis of not exceeding $1,111,100 stock of the
American Co. for the entire issue.—V. 88, p. 509.
Mexican Light & Power Co.—New Directors.—The
Mexican Tramway interests, having acquired a majority of
the capital stock, on Feb. 17 elected the following board,
all new except E. R. Wood:
P. S. Pearson, who was afterwards elected President; Walter Gow and
Miller Lash, Vice-Presidents, and Sir William C. Van Horne, Z. A. Lash,
Julio M.Limantour, George Flett, Robert C. Brown and E. R. Wood.
Compare V. 88, p. 292, 297, 454,
Montreal Steel Works.—Report.—For calendar years:
Kellogg Switchboard & Supply Co.—Decision Setting
Common Balance,
Pref.
Reserve Conting.
Net
Calendar
Co.—The
Illinois
Telephone
by
American
Control
Acct. Div.(7%). Dividend. Surplus.
Acct.
Aside
Profits.
Year—
$56,000 (4)$28,000 $9,330
affirming
a
decision
$93,330
down
handed
1908
on
19
Feb.
Court
Supreme
56.000 (7) 49,000 22.640
187,640 $50,000 $10,000
that rendered Feb. 1 1908 by Judge Windes in the State 1907
—V. 88, p. 55.
in
early
1901
sale
the
aside
setting
at
Chicago,
Circuit Court
Mississippi Glass Co., St. Louis.—Bonds Offered.—A. G.
of over $400,000 of the $497,000 stock to the American Edwards & Sons, St. Louis are offering at a price to yield
Co.
Telegraph
Telephone &
first mortgage 6% bonds dated
4% a block of the'
company in about 53
The sale was attacked by Milo G. Kellogg, who organized the
under general May 2 1904. Authorized, $1,000,000; outstanding, $691,1897 (whose 3,334 shares were transferred in his absence
power of attorney), and minority stockholders. The lower Court restrained 500. An advertisement says:
in the managethe American Telephone & Telegraph Co. from interfering
of the latter to remain
ment of the Kellogg Company, directing the President
upon by
been
had
passed
issues
Court
the
until
the
for
receiver
in control as
of the inability of the parties
the upper courts,and stating that in the eventdecree
of the Court.
to reach terms, the stock will be sold under
the largest
Judge Windes said: "A general purpose to get control of
companies is
telephone manufacturing establishment of the independent
policy of
the
public
and
law
the
as
void
against
is
contract
the
and
shown,
not a complete
Illinois, in that It tends to establish a monopoly, though
no title passed and
one." It was held that the transaction is void and that
the owners
that the complainants, Milo G. Kellogg and Barton, being still
the conditions
of the stock, arc entitled to have restored as far as possible
existing before the transaction.—V. 83. P. 1101.
Beginning Feb. 1909, a sinking fund will retire $25,000 of the bonds
mortannually. The company has no other bonded debt and no otherbonds.
gage may be placed upon the property during the life of theseof bonds
amount
the
double
is
these
bonds
securing
property
The real
times the interest
outstanding. The net earnings in 1908 were ten V.
84, p. 1310.
charges on these bonds. Compare V. 78, p. 1552:
National Electric Lamp Co.—Bonds Offered.—MeCague &
Co., 218 La Salle St., Chicago, are offering at 95 and interest,
by advertisement on another page this company's collateral
trust 5% sinking fund gold bonds. Denomination $1,000.
568
THE CHRONICLE
Authorized, $4,000,000; issued, $2,277,900, of which
$11668,900 have been sold, leaving $609,000, which are
being offered simultaneously in Providence, Boston, Cleveland and Chicago. Maturities: Series A, Nov. 1 1932 and
Series B, July 1 1935, but subject to call on terms stated in
V. 83, p. 1415. A sinking fund is provided to retire 3'1-3%
of the bonds annually. A circular says:
The company was organized in 1901 and has acquired a number of the
most important concerns manufacturing incandescent lamps in the United
States. The companies are located in New York City, St. Louis,
Chicago, Oakland, San Francisco; Cleveland, Shelby, Ravenna, Warren,
Youngstown and Fostoria, all of Ohio; Marlboro and Danvers, Mass.;
and St. Catharines, Ont. Substantially all of the
Central Falls, R.
I.' stock, both preferred and common, Issued and outshares of the capital
standing, of these companies, are pledged as security for the collateral
trust bonds.
No mortgage indebtedness prior to these collateral trust bonds can be
created. None now exists, except $42,000 bonds, which are being retired
$7,000 per annum, and real estate mortgages, $85,000, for which
the
National Electric Lamp Co. Is liable for interest and principal, and which
can be retired at will. Lands, buildings, equipment and other assets,
conservatively valued, provide a safe equity over the outstanding bonded
debt. The company has ample working capital. The management is in
strong and efficient hands. Net earnings, ver six times interest charges.
The consumption of incandescent lamps increases rapidly with the more
extended use of electricity; [during the past 15 years it has
practically
doubled every five years.
EARNINGS FOR YEARS ENDING OCT. 31 1908 AND DEC. 31 1907,
1906 AND 1905.
Gross
Year
Deprec.&
Net
Bond
Divs. Bal. to
Profits. Adjust. Earnings. Interest. Paid. Surplus.
EndingOct. 31 1908__$1,410,612 $414,231 $996,381 $127,820 $57,500 $811,061
1007_
1,313,586
Dec. 31
460,306 853,280 131,502
7,500 714,278
878,648 202,890 675,758 104,266
Dec. 31 1906__
7,500
618,727 198,461 420,266 127,665 57,500 563,992
Dec. 31 1905_ _
235,101
See further particulars in V. 83, p. 1415; V. 88, p. 380.
[VOL. Lxxxviii.
Control.-The United Fruit Co. owns (V. 84, p. 1057) nearly all the
common stock of the Nipe Bay Co., representing a substantial cash investment and constituting control. The Nipe Bay Co. has no floating debt
except for advances made to it by the United Fruit Co.
Output-Comparison with Neighboring Plant.-The United Fruit Co. owns
a large mill and sugar plantation on the adjoining Bay of Banes, 8 miles
away. The two mills have each a dally capacity of 900,000 to 1,000,000
lbs. of sugar. The Nipe mill has been thoroughly tried out by the production of about 70,000,000 lbs. of sugar during the last two years, while the
plantations were in process of development, and the fact that we have at
Nipe 21,000 acres of cane as against an equal acreage at Banes, and as
against an average for the two preceding years of 16,500 at Banes, convinces
me that our success in producing sugar at a profit at Banes will be fully
eqpalcd and, in fact, should be bettered at Nipe. The output at Nipe
since the present grinding season began late in December has been to Feb. 3
17,331,200 lbs., as against 13,468,800 lbs. at Banes. In 1907 and 1908
the average net earnings of the Banes plant upon an average production
of 79,500,000 lbs. were $515,000 per year.
The output at Nine this year will be about 100.000,000 lbs. of raw sugar
and the net profits should be at least $500,000, as against annual Interest
on these notes of $210,000. The proceeds from sale of molasses on the
present production of cane are about $100,000 per year.
Capitalization of Nipe Bay Co.-First mortgage 6% notes, due June 1
1909 ($2,750,000 from the proceeds of the new $3,500,000 issue now
offered will be deposited with the City Trust Co., Boston, to pay these
notes), $2,750,000; 10-year 6% debentures, due 1917 (V. 84, p.
1057),
$1,600,000; preferred stock (sold for cash. V. 81, p. 215),
common stock (issued chiefly In payment for land, V. 84, p. $2,000,000;
1057). $3,502,000.
Sinking Fund for New Note Issue.-The deed of trust will provide for a
cash sinking fund of $150,000 per annum, payable June 1 in
1911,
and 1913, to purchase and retire these notes at not exceeding 105 1912
and
interest; but in case the company before June 1 1911 has expended toward
the construction of a third unit to its mill and the planting 01 10.000 more
acres of cane, at least $300,000, and before June 1 1912 a total of at least
$600,000 for these purposes, and before June 1 1913 has completed
these
improvements, this sinking fund provision may be waived. The cost of
such additions to the mill and plantation, if made, would be about $1,000,000 and the earning capacity would be increased about 50%.
(Compare last annualreport of United Fruit Co. in V.87, p. 1356, 1417
also see V. 87, p. 1609.1-V. 88, p. 454.
National Water Supply Co., Hampton, &c., Va.-Foreclosure Suit.-The Knickerbocker Trust Co., trustee under
Nova Scotia Steel & Coal Co., Ltd., New Glasgow, N. S.the $1,000,000 mortgage of 1906, the coupons being in Report.-For calendar years:
default, instituted foreclosure proceedings in the United Cal.
Profits
Int. an Dep.,Sink. Pref.Div.
Common
Balance,
Year- for Y ar. Bonds.&c. Fund,&c. (8%).
Dividend. Surplus.
States Court at Norfolk, Va., on Feb. 18. Compare V. 85, 1908_
_ _ _$734.701 $281,650 $279,220 $82,400 (13)874,814 $16,617
p. 605, 408.
1907___ 944.791
286,886
(6)299,256
274,428
82,400
21,821
Nebraskal(Bell) Telephone Co.-Report.-For calendar -V.8.6. 1). 1587.
Osceola Consolidated Mining Co.-Settlement-Sale of
years:
Additional Stock.-See Calumet & Hecla Mining Co. above.Calendar
Gross
Net
Div dends
alance,
rota;
YearEarnings. Earnings.
SUrp us. Surplus. V.88, p. 381.
(6%).
$1,852,191 $479,498 about $274,938 $204,560 $914,257
1908
1907
1,773,166
428.544
254,888
173,856
719,860
Phoenix Iron Co., Philadelphia, Pa.-Called Bonds.New York Cab Co.-New Mortgage, &c.-On Feb. 9 a Thirty ($30,000) first mortgage 6% gold bonds, dated Sept. 1
5-year 43.% mortgage for $230,000 was filed to John A. 1890, have been called for redemption on March 1 at 102 at
Stewart and other trustees, covering properties on 31st, the Pennsylvania Co. for Insurances on
Lives and Granting
32d, 44th and 76th streets.
Annuities, Philadelphia, trustee.-V. 85, p. 1459.
The "assignments of interest" issued by William T. Ryerson and Ira
Quaker Oats Co. (Chicago, Ill.).-Report.-For fiscal
Brown under agreement of Oct. 20 1887, Knickerbocker Trust Co., trustee,
in and to certain first mortgage 6% bonds of the New York Cab Co., Ltd., years ending Dec. 31:
secured by mortgage to the Farmers' Loan & Trust Co.,
trustee, dated
June 11 1886, have been called for payment at the Knickerbocker Trust Co.
Interest ceased Feb. 24. The capital stock is reported unofficially as
$500,000. Compare V. 72, p. 187, 91. -
New York & Richmond Gas Co.-Listed.-The New York
Stock Exchange has listed $74,000 additional first mortgage
5% bonds, making the total amount listed to date $1,463,000,
and has authorized $37,000 additional to be added on notice
of sale making the total amount to be listed $1,500,000, the
full atithorized issue under the mortgage.
Earnings.-For calendar year 1908:
YearGross.
Net.
Bond Int. Bal.,Sur.
$117,140
$264,852
1908
$67,648
$49,452
256,053
97,808
1907
63,460
34,348
Total length of mains, 83.8 miles; total meters, 9,455; total services.
7.725.-V. 87, p. 742.
Niagara Falls Power Co.-Report.-For calendar year:
Other
Net
Bond
Gross
Calendar
Taxes,
Balance,
Earnings. Earnings. Income. Interest.
Year
&c.
Surplus.
$1,681,941 $1,259,323 $88,705 $1,045,788 $144,949 $157,291
1908
1,683,223 1,236,147 162,535 1,031,411 156,597 210,673
1907
-V. 87, p. 1360.
Niles-Bement-Pond Co.-Favorable Decision.-Judge Cross
in the United States Circuit Court, District of New Jersey,
early this month rendered a decision dismissing the suit
brought by the Bethlehem Steel Co. against the company for
alleged infringement of two patents granted Feb. 19 1901,
and assigned to the Bethlehem Co., covering the TaylorWhite process for heating high-speed tool steel. The opinion
is given at some length in the "Iron Age of this city of Feb.
11. The Court says:
It Is obvious that the question of the validity of these patents is highly
important to all workers in the art, since they apply to substantially all
steels for cutting tools in the composition of which chromium and tungsten
or molybdenum appear, and to all temperatures applied in treating such
steel for such purposes in excess of 1725 degrees F. If the patents are sustained, any considerable progress in the art will manifestly be impossible
during the period of monopoly thereby granted.'This is not stated as a
reason why they should not be sustained, if they properly may be, but rather
to indicate the serious nature and importance of any conclusion that may
be reached.-V. 84, p. 341. '
Calendar
Year1908
1907
-V. 87. p. 550.
Net
Depreciation & Dividends
Profits.
Construction.
Paid.
$1,125,748
$154,610
$869,410
1,365,166
151,412
869,110
Balance,
Surplus.
$101,728
844,644
Quincy Mining Co.-Report.-For the calendar year:
Year. Gross.
1908.82,796,230
1907. 3,717,501
1906. 3,159,011
Net.
$542,372
1,485,851
1,334,134
Oth.Inc.
$16,393
21,521
27,411
Consten.
$104,604
210,700
138,560
Dividends.
(18) $495,000
(54)1,485,000
(50)1,250,000
Balance.
df. $40,839
df. 188,328
df. 27,015
Total surplus Dec. 31 1908 was $991,365. A quarterly
dividend of $1 per share (4%) will be paid March 22. See
V. 86, p. 1228.
San Diego (Cal.) Consolidated Gas & Electric Co.-Notes
Called.-The entire issue of $250,000 7% gold notes issued
under agreement - dated April 1 1907 has been called for
redemption at par and interest at The New York Trust Co.,
trustee, on April 1.-V. 86, p. 1228.
Sheffield Coal & Iron Co.-Reorganized Company.-Thie
company was incorporated at Albany on Feb. 24, pursuant
to the reorganization plan of March 1 1908 as modified in
October last(V. 86, p. 671; V.87, p. 1091). The authorized
capital stock is $3,250,000, of which $750,000 is to be 6%
preferred and $2,500,000 common stock. There will also
be an issue of $750,000 first mortgage 5% bonds and
a small issue of 3-year 5% notes (probably less than $80,000),
secured by an equal amount of the bonds. The directors are:
Edmund C. Converse of Greenwich, Conn.; James Gayley, C. William
Fink, Phila.; Wm. R. Walker of New York; William Edenborn of New
Orleans; Ratidal Morgan of Philadelphia; Edwin G. Rust of Sheffield, Ala.;
Alfred Clifford of St. Louis; 'William M. Douglass of Allentown. Pa.V. 87, p. 1424.
Southern Pine Lumber Co. of Texarkana, Ark., and
Diboll, Texas.-Bonds Offered.-Clark L. Poole & Co.,
Chicago, are offering at par and interest the unsold portion
of the present issue of $750,000 first mortgage 6% serial
Nipe Bay Co.-Status.-In connection with the note offer- gold bonds, dated Oct. 1 1908. Denominations, $1,000 and
ing mentioned Feb. 13, an official statement was given 500 (*), maturing $50,000 semi-annually beginning April 1
1909 and ending April 1 1916, but redeemable on any interest
out from which extracts are made as follows:
Extracts from Letter of Andrew W. Preston. President of United Fruit Co.. period on 60 days notice at 102 and interest. Principal and
Boston. Feb. 6 1909.
interest payable at Central Trust Co. of Illinois, trustee,
Property.-The Nine Bay Co. Is organized under the laws of New Jersey,
and owns a tract of land comprising approximately 130,000 acres bordering Chicago. Total authorized bond issue, $1,000,000.
on Nine Bay, Cuba, where it has developed a sugar-cane plantation and
Southern Steel Co.-Injunction Denied.-Judge Noyes in
mill along the most modern lines. To date there have been planted more
than 22,000 acres of cane, of which about 21,000 acres are producing sugar the United States Circuit
Court in this city on Thursday, in
this year. There have been built 51 miles of standard-gauge railroad tracks,
mostly 60-lb. steel, and a wharf reaching deep water at a distance of 1,800 the action brought by George H. Schuler, the holder of about
feet from shore; equipment includes 11 locomotives and 335 steel-frame $2,200,000 common and preferred stock, denied
the applicars. The entire factory building, constructed of steel, has been completed
and machinery installed sufficient to take care of the cane from acreage cation to continue the order which temporarily restrained
now productive. The mIll is so situated that the eugar and molasses arc the reorganization committee from carrying out
the plan
loaded directly on vessels. About 2,000 men are employed at the company's plantations and mill the year round, increasing to about 3,000 (V. 86, p. 1288).
during the busiest months. The total cash expenditure for development
work to date exceeds $6,700,000. This does not Include commissions and
Interest during construction or the cost of the land. A conservative
estimate of the value of the land before any improvements were made is
$1,250,000. (See further particulars in V. 83, p. 1382.)
As only about 30,000 acres of cane are required for the present mill,
there remain 100,000 acres of land available for additional sugar propositions or other commercial purposes.
The Court says: "It is admitted that the complainant and all
other stockholders have had their privilege of participating in the reorganization upon the same basis. Thb fact that those who advance
new
funds will receive far more In new securities than those who advance nothing
is only the ordinary incident of a reorganization after a judicial sale. It
does not indicate fraud nor that the majority stockholders joining in the
reorganization have failed in any duty owed by them to the minority."
Compare V. 88, p. 455, 105.
FEB. 27 1909.
THE CHRONICLE
569
-The 65th annual statement of the New England Mutual
Life Insurance Co., 87 Milk St., Boston, published in the
advertising columns of the "Chronicle" last week, shows
that this old line company held its own during a year when
business was at a standstill, railroad earnings decreasing and
all commercial activities in a depressed condition. There
were issued and paid for during 1908, 7,230 new policies, for
$17,965,246, an increase of 344 policies and $1,912,603
insurance over 1907. The terminations by death, endowment, &c., were $11,923,708, resulting in an increase of
insurance in force of $6,041,538, and bringing the total
amount of the company's insurance outstanding up to $184,913,858. On Dec. 31 1908 the gross assets were $47,980,647,
an increase during the year of $3,797,772, while the gross
liabilities of all kinds amounted to $43,276,655, leaving a
surplus of $4,703,992 (or $1,680,249 more gross surplus than
the
of
-tenths
Assents representing practically all the stock and nine
last year), out of which the directors apportioned dividends
bonds were received to the plan, but Ti. H. Rollins & Sons, holding $600,000
surplus of
in bonds, dissented. In order to effect the reorganization the receiverships to policy-holders of $1,200,000, leaving a net
were necessary; they will also serve to clear the title.
$3,503,992, an increase of $486,249 over last year. The
[An exchange :ay : "All the stock of the new company to be formed Is to officers of the company are Alfred D. Foster, President;
go to the United Railways Investment Co. in exchange for $900,000 of its
preferred stock and $900,000 of its common stock, at par value. There is D. F. Appel, Vice-President; J. A. Barbey, Secretary, and
a stipulation by which this stock may be turned back to the Investment
William F. Davis and J. G. Wildman, Asst. Secretaries.
Co. on the basis of $40 for the common stock, or $360,000, and $60 for the
Seth H. Whiteley, 220 Broadway, and Lathrop E. Baldwin,
preferred, or $540,000, making in all $900,000.
At San Francisco on Feb. 11 Judgment by consent for $624,029 was 141 Broadway, are the New York managers. The detailed
entered hy Judge Troutt in favor of the Union Construction Co. against
report, with a complete list of the company's investments,
the StanIslaus Electric Power Co.-Ed. "Chronicle."1-V. 88, p. 235.
&c., will be mailed upon application to the home office, 87
Tennessee Copper Co.-Report.-For calendar years:
Dividends Balance, Milk St., Boston.
Cal. Copper Royalties, Bond Bond Deprec'n
Declared. Surplus.
Year. Prod'n. dec., rec'd. Int. Disc., &c. Acct.
-One of the most substantial trust companies in this coun$250,000 $74,769
1908_4368,492 $44,682 $20,000 $18,405 $50,000 (5)
(13) 650,000 150,635 try-the Pennsylvania Company for Insurances on Lives
1907___ 839,958 60,716 20,000 10,039 70,000 (10)
324,230
500,000
106,000
7,500
21,097
1906._ 867,062 91,766
& Granting Aunuities of Philadelphia-reported in the last
30 1908 (no
Dividends deducted above were: In 1908, 5% pald Sept.and 5% paid (1908) statement that the amount of its invested trust funds
later dividend being declared); in 1907, 8% paid Aug. 1907
1907.
•was $142,401,252. There was also a cash balance in trust
Feb. 15 1908; in 1906, 5% paid July 1906 and 5% in Jan.
Presi- accounts of $3,757,378; making total trust funds $146,158,New Officers.-Frederick Lewisohn has been elected
to be the largest of
dent to succeed J. Parke Channing, resigned; James Philips 631 on Nov. 27 1908. This is stated
in the United
Jr., Vice-President; and Walter Lewisohn, Treasurer, in any financial institution of this description
with a perpetual charplace of J. H. Sussman, resigned, the latter being succeeded States. The Pennsylvania Company,has
$2,000,000 capital,
ter, was incorporated March 10 1812,
as director by Sidney Riddlestorffer.-V. 87, p. 1424.
$3,656,823 surplus and undivided profits, $16,802,138 deTexas Company.-Refinery at Bayonne, N. J.-Ground posits and aggregate resources of $22,567,808. C. S. W.
was broken at Bayonne, N. J., on Feb. 16 for a large refinery Packard is at the head of its administration, and his assoon which the company, it is understood, will expend several ciate officers are: Lewis A. Balz, Vice-President; Thomas
million dollars. The 'Manufacturers' Record" of Baltimore S. Gates, Trust Officer; A. V. Morton, Treasurer; John J. R.
for Jan. 21 1909 contained an article regarding the history Craven, Secretary; L. C. Cleeman, Asst. Trust Officer;
of the company. Compare V. 87, p. 1424; V. 86, p. 606.
William L. Brown, Asst. Secretary, and C. S. Newhall,
Tuolumne Water Power Co.-Foreclosure-Receivership.- Asst. Treasurer.
See Stanisalus Electric Power Co. above and in V. 88, p. 235.
-A. M. Kidder & Co., 18 Wall St., are offering for sale
Union Ferry Co.-Bonds Canceled.-We have confirmed at prices to yield 4.10 to 0%, $100,000 International Navithe report that the company some time since purchased in gation Co. first Mortgage 5% sinking fund bonds; $100,000
the open market and canceled $700,000 of the outstanding Missouri Kansas & Texas Ry. first and refunding 4%;
$2,200,000 of first mortgage 5% bonds, reducing the amount $50,000 Toledo & Ohio Central Ry., Western Division
outstanding to $1,500,000.
(Hocking Valley) first mortgage 5%, and $50,000 of the
general mortgage 5%; $100,000 Nassau Electric
No securities, it is stated, have been issued to take the place of the bonds same road's
retired, no loan has been obtained on account thereof, nor is the payment Ry. (Brooklyn Rapid Transit) consolidated 4%, and
made with the proceeds of sale of any property.-V.87, p. 1537.
$50,000 Central RR. & Banking Co. of Georgia (Central of
United Fruit Co.-Offering of Notes of Controlled Company Georgia Ry.) collateral trust 5%. A circular describing
-Officia Statement.-See Nipe Bay Co. above and in V. 88, these issues and 16 guaranteed stocks exempt from tax,
p. 454.-V. 87, p. 1609.
returning 3.85 to 5.70%, will be mailed to readers of this
United Railways Investment Co.-Stock, &c.-See paper on request.
Stanislaus Electric Power Co. under "Industrials" below.- -Corporations desiring fidelity bonds for their officers
V. 88, p. 507, 453.
and employees are referred to the annual statements for
United States Steel Corporation.-Prices for Steel and 1908. of The Guarantee Company of North America and of
Iron.-In its bearing on the announcement made last week the United States Guarantee Co. presented in our adveras to the modification of prices (see p. 509), the following tising columns to-day. The surplus of each company has
from the "Iron Age" of New York for Feb. 25 is of interest: been accumulated wholly from earnings-no part of it having
As yet there are no facts upon which to base any opinion concerning the been contributed by stockholders. Both companies are
have been no
that which
effect of the price reductions In stimulating business. Thereskirmishing
Is under practically the same management, being
sales of consequence and it may take some weeks before the
by the introduced fidelity insurance on this continent over forty
over and round tonnages are placed. It is tonnage that is wanted
mills, and the prices will be made to bring it out. There are indications years ago. Each company avoids the transaction of a
of a friendly spirit among some of the leading interests, so that the term
surety" business, which so often involves large and hazard"price war'• should not be indiscriminately used.
It is only in a few lines of mill products that prices have been openly
risks, upon court, contractors' and depository bonds.
ous
unare
lines
other
regarding
made, and some of the published reports
new discounts
useful card-board folder of the New York and Brook-A
doubtedly exaggerated. -The leading pipe mills have issued
on merchant pipe showing reductions ranging from $6 to $10 per ton. It lyn trust companies is now being distributed by Lutz &
Is probable that the price for billets will be made $22, Pittsburgh. There
is no truth in the reports that the price of steel rails has been reduced from Littleton, specialists in bank and trust company stocks,
affected
$28 to $25; the opinion is expressed, however, that they may bealthough
25 Broad St., this city. In concise form this folder shows
by the struggle. Steel bars are openly down to 1.20c., Pittsburgh,
some leading sellers decline to commit themselves beyond July 1. So far the comparative deposits of all the trust companies in
been
yet
have
Pittsburgh,
1.30c.,
as we can learn, no prices lower than
Greater New York before and after the panic and at the
named by anybody on structural material and on plates; the reports that
1,a5c. Is being done cannot be confirmed. Hoops and bands have been present time. The capital, surplus and profits of each
have
concessions
sharp
some
reduced $4 per ton. While it Is admitted that
company is indicated as well as the par and book value of its
been made on sheets, no exact figures are available.
bid and asked prices for
One point which cannot be too strongly insisted upon is that the decline stock, the yearly dividends and the
a
effect
of
possible
in prices of finished iron and steel has discounted any
Feb. 10. A copy will be sent on application to bank and
reduction in the tariff duties on iron and steel upon the domestic markets.
trust company investors, directors, stockholders and officials.
Comparison of Prices.
Feb. 24 Feb. 17 Jan. 27 Feb. 26
-To accommodate increased business, James K. Rice Jr.
1908.
1909.
1909.
1909.
& Co. specialists in inactive securities, have moved from
Bessemer pig iron, Pittsb., per gross ton_ _$16 91) $16 90 $17 15 $17 90
28 00 their former offices on the sixth floor of 33 Wall Street
25 00
25 00
Steel billets, Pittsburgh, per gross ton__
35 00
33 00
33 00
33-00
Wire rods, I'ittsburgh, per gross ton
28 00 (Mechanics' Bank Bldg.) to a.larger and finer suite of bank28 00
28 00
28 00
Steel rails, heavy, at mill, per gross ton
140
160 ing rooms on the fourth floor of the same building. The
1 40
1 20
Steel bars, Pittsburgh, per pound
160
170
1 60
1 30
Tank plates, Pittsburgh, per pound
firm was organized last October, and is now one of the best
Rails from Subsidiary's New Plant.-The new plant of the known and most active concerns on the Street. The cosubsidiary, Indiana Steel Co., at Gary, Ind., began rolling partnership consists of James K. Rice Jr., Raymond J.
rails on orders last week, and is operating at small but Chatry and Irving M. Day.
steadily growing capacity. Seven of the open-hearth
-A useful bond circular has recently been issued by
furnaces at Gary have been fired and are producing steel.- Schmidt & Gallatin, members of the New York Stock
V. 88, p. 509.
Exchange, 111 Broadway. The firm has arranged a repreWestinghouse Machine Co.-New Directors.-J. Dennison sentative list of the bonds most desirable in the present
the
board,
to
elected
Lyon and H. M. Brackenridge have been
market, under certain classifications, as "gilt-edged first
which now includes:
mortgage railroad bonds," "good railroad bonds, "semiDennison
J.
Lyon.
J.
Callery,
D.
H. C. Bughman, H. M. Brackenridge,
speculative railroad bonds," 'first-class industrial bonds"
William McConway, Horace E. Smith,tJohn F. Wallace, George Westing- and "industrial bond investments of second class."
and IL II.,Westinghouse.-V. 8 13. 1609.
Standard Roller Bearing Co., Philadelphia.-New Director.
-Edwin Packard of New York (Vice-Pres and Chairman
of the Federal Mining & Smelting Co,) has been elected a
director to succeed M. D. Sloane.-V. 86, p. 985.
Stanislaus Electric Power Co.-Foreelosure.-Preliminary
to the carrying out of the reorganization plan (V.88, p. 235),
the company's property was on Feb. 16 placed in the hands
of George H. Whipple,as receiver,by Judge De Haven in
the United States Circuit Court at San Francisco upon
application by the Knickerbocker Trust Co., mortgage trustee, in a suit to foreclose the $6,000,000 mortgage. At the
same time Vanderlynn Stowe of San Francisco was made
receiver of the Tuolumne Water Power Co. (controlled) in
a suit to foreclose the $350,000 mortgage of that company.
A representative of the Stanislaus Co. is quoted as saying:
house
570
THE CHRONICLE
[VOL. Lxxxvm.
Arports anti Portunents.
THE NORTHERN CENTRAL RAILWAY COMPANY.
FIFTY FOURTH ANNUAL REPORT-FOR THE YEAR ENDING DECEMBER 311908.
Baltimore, Md., February 17 1909.
The Board of Directors submit herewith to the Stockholders of the Northern Central Railway Company a synopsis of their Annual Report for the year 1908:
The gross earnings of all lines directly operated were
Operating expenses, including taxes
Net earnings from operation
Deduct rentals paid roads operated on basis of net earnings
$11,264,986 10
9,036,065 88
$2,228,920 22
122,101 26
Net operating earnings, the Northern Central Railway Co_ __ $2,106,818 96
To which add:
Interest on investments
$890,510 59
Interest, general account, rents and other items 356,538 55
1,247,049 14
Gross Income
$3,353,868 10
Deduct:
Fixed rentals of leased roads
$308,460 08
Interest on bonded debt
347,315 00
Hire of equipment, interest on mortgages,
ground rents and Car Trusts, and other
items
338,494 41
994,269 49
Net Income
$2,359,598 61
From this amount the following amounts have been deducted:
Payment account principal of Car Trusts
$59,381 62
Dividends of 8%
1,547,400 00
Amount transferred to Extraordinary Expenditure Fund
600,000 00
2,206,781 82
Balance transferred to credit of Profit and Loss
Amount to credit of Profit and Loss Dec. 31 1907
Add sundry credits during the year
Amount to credit of Profit and Loss-Dec. 31 1908
$152,816 99
4,443,526 23
230,029 07
$2,826,372 29
TRAFFIC.
The number of tons of freight moved was 20,226,288, a,
decrease of 4,827,265, or 19.27%. The number of passengers carried was 4,498,258, a decrease of 618,748, or 12.09%.
this year in order to fully maintain your property, and of
the further outlay that will probably be required in connection with a new freight yard near Sunbury, it has been,
deemed wise to increase this fund for these and similar purposes.
CONDENSED GENERAL BALANCE SHEET DEC. 31 1908.
ASSETS.
Cost of railway, Real Estate and„Equipment
$20,981,361 98.
Securities Owned
7,329,381 58.
Current Assets:
Cash (in hands of Treasurer and on special
deposit)
$2,330,936 62
Due from Agents
302,180 80
Bills receivable, &c
630,750 00
Due from Individuals and Companies and
Insurance Fund
317,371 14
Materials
741,192 40
4,322.430 96
Depreciation fund for coal lands of the Shamokin Valley 44
Pottsville Railroad Company
520,000 00'
$33,153,174 52
LIABILITIES,
Capital Stock
$19,342,550 00.
Funded Debt (including mortgages and ground rents)
6,946,827 02
Car Trust Principal and Taxes charged out awaiting settlement 455,203 77'
Extraordinary Expenditure Fund
908,741 24.
Current LiabilitiesVouchers and pay-roll checks
$752,493 98
Interest accrued on funded debt
123,891 25
Due other companies
315,295 72
Interest matured on bonds and dividends uncollected
3,219 50
Insurance Fund
51,902 79
Dividend payable Tan. 15 1909
773,700 00
Miscellaneous
132,609 58
2,153,112 82'
Depreciation fund for coal lands of the Shamokin Valley &
Pottsville Railroad Company
520,367 38
Profit and Loss
2,826,372 2S)
$33,153,174 52
The items of extraordinary expenditure for the year were
the completion of increased facilities at Grain Elevator No. 3
GENERAL REMARKS.
It will be seen that the industrial depression referred at Canton, the replacement of freight equipment by cars
to in your last report as having commenced in December, of larger capacity, and a small outlay for right of way, as
1907, continued throughout the past year. It is still in follows:
Right of Way
$10,985 77
force, and, as will be noted from the statements herewith. Construction
submitted, has seriously affected both your traffic and rev242,112 56
Canton, completing extension of Grain Elevator No. 3 _
enue, the latter showing a falling off of $1,972,511 90. Equipment231.937
Cars,
Pool]Freight
&c
Rebuilding
512
58
Your freight traffic shows a decreased tonnage of 4,827,265
$485,035 91
Aggregate
tons, or nearly 20'70, with a corresponding reduction in
ton mileage, and it was only through severe economies
There was no change in the mileage .of your company's
in the movement of your traffic and in other operating ex- lines during the year.
penditures that favorable net results were obtained. In
There were 1,125 tons of new steel rails and 192,837 crossyour passenger business the volume was reduced over 12% ties used in repairs and renewals.
and the mileage nearly 9%, while, owing to increased cost
One new standard freight locomotive was built by the
of movement, there was a loss of over 4 mills per passenger Baldwin Locomotive Works, to replace an Elmira & Williamsper mile in the handling of this traffic. It would seem to be port Railroad locomotive which was destroyed in an accident;
clear from this statement that no justification can be found and nine second-hand freight locomotives were purchased
for the attempts to force down, by legislative enactments, from the Pennsylvania Railroad Company to replace a like
the rates on this class of traffic, if the present facilities and number of old freight locomotives withdrawn from service.
comforts are still to be enjoyed by the traveling public.
Nine second-hand passenger coaches were purchased from
Through the policy pursued by your management of largely the Pennsylvania Railroad Company, to replace the same
there
expenditures,
was a net income, after number of old passenger coaches withdrawn from service.
restricting your
payment of interest, taxes, fixed rentals, and other charges
Two hundred and eighty-two class "XI" steel underframe
$2,359,598
61.
and advances, of
box cars were built by the Pressed Steel Car Company, to
Out of this there was paid the regular dividend of 8%; and replace in part cars destroyed or sold.
after deducting the payment on account of principal of car
The Insurance Fund amounted to $1,101,455 98 oniDetrusts, the sum of $600,000 was transferred to the Extraor- cember 311908, the gain for the year being $83,509 24.
dinary Expenditure Fund, and the balance, $152,816 99,
There were carried on the rolls of the Pension Department
transferred to the credit of your Profit and Loss account. at the end of the year 177 employees and the pensions paid
It will be noted that the Extraordinary Expenditures for during the year amounted to $42,345 53.
the year, amounting to $485,035 91, were defrayed out of
By order of the Board.
the fund already standing on your books for that purpose.
JAMES McCREA,
In view of the fact that larger expenditures must be made
President.
-Millett, Roe & Hagen, bankers and members of the New new offices on a lower floor of the Bank of Commerce BuildYork Stock Exchange, announce that they will move to their ing, 31 Nassau St., at which address they have had their
new offices at 33 Wall St. on Monday March 1. The firm offices for the past five years. This bond house purchases
has leased the entire first floor of the Mechanics' National entire original issues of municipal bonds.
Bank Building, above the offices of the Mechanics' National
-N. W. Halsey & Co. are offering for investment on
Bank, and will have an elegant suite of offices. Millett, another page an attractive list of municipal, railroad and
Roe & Hagen, beginning business at their old location, at 'public utility bonds netting from 3.70 to 5.15%. Details
3 Broad St., in the Drexel Bldg., Jan. 1 1903, have been of these bonds with net prices will be furnished promptly
large dealers in high-grade bonds and stocks, and maintain upon application at their New York office, 49 Wall St., or
a branch office in Boston at 10 Post Office Square. The at their branches in Philadelphia, Chicago and San Francisco.
members of the firm are: Stephen C. Millett, Alexander
-The banking house of Plympton, Gardiner & Co.,27
V. Roe, A. Hagen and Alfred Graham Miles.
New York, and 232 La Salle St., Chicago, are
-N. W. Harris & Co. have leased from the Caledonian William St.,
another page several choice issues of
Insurance Co. the entire ground floor of the latter's building offering to investors on
bonds. Prices and particulars will be
at 50-52 Pine St., which adjoins the present office of Harris high-grade railroad
& Co. at Pine and William streets. The two offices will be sent upon request.
-R. H. Fiero & Co., 25 Broad St., have opened a branch
connected, thus doubling the ground floor space of Harris
& Co.'s quarters. The new space will be occupied on or office in Utica in the Utica City National Bank Building,
about May 1, prior to which time it will be refitted for the with Wm. B. Crouse as Manager.
bankers.
-Werner Bros. & Goldschmidt, bankers, of 25 Broad
-R. M. Grant & Co., owing to increase in their business St., own and offer a list of investment bonds yielding from
and the necessity of more space, have moved into a suite of 4.20% to 6.25%.
!FEB. 27 1909,1
571
THE CHRONICLE
Wive Trannurtial Timm
COMMERCIAL EPITOME.
Friday Night, Feb. 26 1909.
Trade has proceeded more cautiously than ever in the
presence of the late sharp cuts in steel prices and marked
depression at the Stock Exchange. Prices, however, aside
from those for metals have been generally steady, and
breadstuffs have advanced, especially wheat. Money has
been easy and bank clearings and railroad earnings make
favorable comparisons with the small totals of a year ago.
LARD did not vary much during the early part of the
week, on the whole being steady with a light run of hogs at
the Western centres. Occasionally prices have advanced,
but realizing sales have caused reactions. Higher prices
at the Chicago stock yards coincident with small arrivals
have latterly been a sustaining and bracing factor for products. Prime Western 9.95c, middle Western 9.80c, City
9%c. Refined in fair demand with Continent 10.15c.
8,and 7%c
/
South America 10.65c, Brazil 12c., Compound 75
. DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Fri.
Wed. Thurs.
Tues.
Mon.
Sat.
9.67
9.67M 9.75
9.70
9.65
9.80
9.87M
M
9.82
Ho11- 9.823
9.77 M
9.92.
9.97J
day. 9.95
9.90
May delivery
July delivery
September delivery
COTTON.
Friday Night, Feb. 26 1909.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
128,987 bales, against 141,612 bales last week and 201,591
bales the previous week, making the total receipts since
the 1st of September 1908 8,040,625 bales, against 6,829,996
bales for the same period of 1907-08, showing an increase
since Sept. 1 1908 of 1,210,629 bales.
Sat.
Receipts at-
Mon.
Tues.
Wed.
Fri.
Thurs.
Total.
8,076 13,714 6,300 10,673 4,840 50,398
7,426
7
___
------------ 12,592 12,592
-------391 6,974 6,151 27,773
3,053 5,373 5,831
6.'795
Galveston
Port Arthur_ __ _
CorpusChristi,&c
New Orleans..., _
Volir
ert
-iii a-Jii
-454
-529
--ii
-ioi
__
18
----------------------18
1,5 1,410 11,541
1,1.1 2,23
2,i
3,875 3,875
-600
--565
-ia
------125
---___
---__
---___
125
____
3,175
267
510
592
885
715
206
489 4,741
308 1,017
911
386
----386
--------------40
____
92
ii
.85
i5
--------1,958 1,958
-----------117
_
80
12
25
75
77
7
'
Pensacola
Jacksonville, &c.
Savannah
Brunswick
Charleston
I
Georgetown __
Wilmington
Norfolk
NewportNews•doc
New York
Boston
Baltimore
Philadelphia_ __ _
PORK has been in fair demand with mess $17 25©$17 50, Totals this week_ 14,129 19.034 30,742 10,672 20,935 33,475 128,987
'clear $18 75@$21 50, family $18@$19. Cut meats rather
depressed; pickled hams 9c., pickled bellies, 14@10 lbs.,
The following shows the week's tota receipts, the total
8N,(4)9%c.; beef, mess $12 50@$13, packet $14(4415, since Sept. 11908, and the stocks to-night, compared with
family $15 25@$15 75, extra India mess $24 50(4)825. last year.
.
Stearines 123©13c. for oleo New York and 13%c. for
Stock.
1907-08.
1908-09.
Chicago. Tallow has sold at 6c. and London prices have
Receipts to
not changed. Butter has advanced to 30c. for creamery
This Since Sep This Since Sep
26.
February
1908.
1909.
Week. 1 1908. Week. 1 1907.
extras, with a light trade latterly and receipts heavier.
Cheese has been in better demand; small or large,full cream, Galveston
3,044,417 48,383 1,993,647 144,261 167,720
50,398
92,487
7,426 116.198
State, has advanced to 15c. Eggs are down to 27c. for fresh Port Arthur
36,540
863
82,345
CorpusChristio&c. 12,592
and 26c. for Western firsts.
1.589,067 273,158 206,304
33,986
1,637,128
27,773
New
____
Orleans
OIL.-Cotton seed has been quiet and lower; winter Gulfport
20,221
23,040
54,911
3,157 311,174 3,520 279,233
5.73@6.28c.,summer white 5.45©5.75c., crude 4.30(4)4.35c. Mobile
129,857
109.446
Pensacola
Linseed has advanced; city, raw, American seed, 56@)57c., Jacksonville.
7,405
300
26.472
18
&c_
83,381
11,541 1,273.026 12,956 1,335.496 104,018
boiled 57@)58c., Calcutta 75c. Lard firm with a moderate Savannah
7,625
16,190
263 196,283
3.875 298,127
16,754
trade; prime 75@80c., extra No. 1 56@)57c. Olive, still Brunswick
21.630
185,520
813
1.600 179,803
Charleston
387
50
1,961
125
$1 55(4)$1 65. Cocoanut has been quiet and rather weak Georgetown
805
10,670
3,175 347,972 3,749 453,823
here and London at 63'©7c. for Ceylon here and 7@73ic. Wilmington
18,896
33,962
4,714 471,716 7,288 450,844
Norfolk
80
5,694
8,833 • ____
386
for Cochin.
NewportNews,&c.
3,163 134,166 106,309
34
13,701
40
York
COFFEE on the spot has advanced to 83'c. for No.7 Rio New
9,382
7,775
8,688
11.655 1,863
92
Boston
17,543
20,544
55,067
82,917 3,840
1,958
with No. 4 Santos 8%@,8%c. West India growths have Baltimore
4,699
475
6.795
96
3,513
117
been quiet but firm. Speculation in coffee futures has been Philadelphia
128,987 8.040.625 117,984 6,829,996 821,760 .i.662,538
quiet as a rule, but foreign markets have been rising,especTotal
ially in Europe, and the effect here has been plain. Prices
have steadily advanced. Shorts have been covering. The
In order that comparison may be made with other years,
low grades have been in light supply. Less has been said we give below the totals at leading ports for six seasons:
about the question of a duty being imposed, but bulls have
1904.
1905.
1906.
1907.
1908.
given support, and it was noticeable on Wednesday that Receipts at- 1909.
29,431
51,428
despite the issuance of March notices for over 100,000 bags, Galveston _ _ _
39,158
89,324
48,383
50,398
1,839
14,616
815
4,358
863
the market remained generally steady, the notices being Pt.Arthur,&c. 20,018
25,909
47,194
38,744
49,843
33,966
27,773
Orleans_
New
397
promptly stopped. Closing prices were as follows:
4,022
1,557
3,733
3,520
3,157
Mobile
March
April
May
5.80@5.85
6.55@6.60 I October
7.00@7.10 July
6.20@6.25 November _ _5.80@5.85
6.95®7.00 August
6.95@7.00 September _6.05@6.10 December .5.80® 5.85
SUGAR.-Raw has been in better demand and higher at
3.73(0.74c. for c ntrifugal, 96-degrees test, 3.24c. for Muscovado, 89-degrees test, and 2.98c. for molasses sguar, 89degrees test. Refined has been stronger. Granulated 4.50
@4.55c. Spices quiet and steady, with moderate stocks.
Tea quiet but firm.
PETROLEUM.-Refined as been in fair demand; barrels 8.50c., bulk 5c., cases 10.90c. Gasoline, 89 degrees,
in 1 0-gallon drums, 19c.; drums $8 50 extra. Naphtha 16c.
for 73 to 76 degrees in 100-gallon drums; drums $8 50 extra.
Spirits of turpentine has declined to 43c. Rosin, strained,
$3 35. Wool has been very firm, with old rather scarce and
new clip the object of interest. Trade is slow.
TOBACCO has been generally quiet, though some business has been done in 1907 Ohio, Wisconsin, Pennsylvania
and Connecticut. Of Sumatra, the supply is liberal and at
the same time the sales are light. Buyers have been holding aloof for the first Amsterdam sale. New Pennsylvania
has been held above the views of packers, and transactions
have therefore been on a very limited scale. For Cuban
new crop there is a fair demand, especially the more desirable descriptions. But taking the tobacco trade as a whole,
it is slow, owing to some decrease in the cigar consumption.
4 to 13c.
COPPER has been weak of late at a decline to 123
2c.
for lake, 123' to 12%c. for electrolytic and 123 to 123/
for casting. This was largely due to lower prices in Europe
and reports of strained political relations there. Trade
has been slow at home and abroad. Spelter has been dull
2
and lower at 4.75@4.80c. Lead has been dull at 3.923/
4c. Tin has been dull and weak in sympathy with a sharp
fall in London. Latterly spot prices have been nominally
28.60@28.65c. Iron has been dull and unsettled, owing to
very sharp cuts in steel-$7 to $12 per ton. There is a general belief that steel schedules in the new tariff will be sharply
reduced. The "cuts" and a prospective reduction in the
tariff have raised the question of future wages, danger of
strikes, Ste. No. 2 Northern foundry is offered, it is said,
at $17 50 in New ngland, delivered; No. 1 Northern, delivered 'e'e, nominally $16 75@$17; No. 2 Southern $17 25
0$17 50.
6,133
15,779
2,798
2,178
1,925
12,249
1,682
7.023
9,899
510
1,162
979
4,697
586
3,838
18,570
1%129
992
1,788
6,662
497
5,574
5,068
1,790
174
171
2,791
678
4,055
117,984
190,892
101,945
152,472
72,323
Savannah _ _ _
Brunswick_ _ _
Charleston,&c
Wilmington_ _
Norfolk
N'port N., ece
All others_ __ _
11,541
3.875
1,725
3,175
4,714
386
2,225
12,956
263
863
3,749
7,288
Total;this wk_
128,987
Since Sept. 1_ 8,040,625 6,829.996 8,170,529 6,233,246 7,048,969 6,465,598
The exports for the week ending this evening reach a total
of 84,353 bales, of which 34,783 were to Great Britain,
5,515 to France and 44,055 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1908:
Week ending Feb. 26 1909. From Sept. 1 1908 to Feb. 26 1909.
Exported toExported toExports
from-
ContiGreat
ContiGreat
BrUatn.Frnce. neat. Total. Britain. France.
Galveston ____
Port Arthur_
Corp.Chrls.,&e.
New Orleans__
Mobile
Pensacola
Gulfport
Savannah
Brunswick
Charleston_
Wilmington_
Norfolk
Newport New
New York
Boston
Baltimore
Philadelphia _
Portland, Me..
San Francisco_
Seattle
Tacoma
Portland, Ore..
Pembina
Detroit
Total.
8,756 5,440 25,138 39,3341,287,398378,016 947,5642,612,978
53,089 116,198
7.426 63,109
7,42;
6,476
6,476
1,147 1,147
1,329,491
450,66
702,783176,048
10,171
3,071
7,100 --201,170
4,711 77,221 70,774 53,17
4,711
42,496 110,689
28,319 39,874
20,221
4,132 16,089
140,531 82,038 520,483 743,052
8,725 8,72
82,512 251,100
168,588
68,394
62,66
7,725
88,207 8,731 238,844 335,782
30,771
1,971
28,800
1,185
964
75
4,729
100
5,98,
1.064
4,641
4,641
855
290
122,885 32,456
75,522
28,946 4,161
37,719
650
85
290
2,003
123,774 279,115
9,300 84,822
47,948 81,055
6,893 44,612
650
52,8351 52,835
50,904 50,904
8,660
8,66
300
3
100
1
2,003
34,783 5,515 44,055/ 84,3532,862,538808,1872,760,6536,431,378
51,0871135.8542,490.599689,9972,679,0715,859,667
68,94315,8241
Total 1907-08_
Total
In addition to the above exports, our telegrams to-night
also give us the following amounts of cotton on shipboard, not
cleared at the ports named. We add similar figures for
New York.
572
THE CHRONICLE
On Shipboard, Not Cleared for-
Great
GerOther CoastFeb. 26 at- Britain. France many. Foreign wise.
Total.
5,981 4,172 8,566 17,492
New Orleans_ _
503 36,714
Galveston ___ _ 23,401 15.398 12,031 15,804 3,339 69,973
Savannah _
2,954
2,954
Charleston_ ___
-tiao
200
-556 9-,66 2,435
Mobile
600 12,385
Norfolk
11,242 11,242
2,000
New York _ _ _ 450
900 3,000
6,350
Other ports
10,000 1,000 11,000
22,000
Total 1909_ _ 41,732 30,020 37,886 36,296 15,884 161,818
Total 1908
31,282 33,529 66,289 21,770 21,490 174,360
Total 1907.... 75,764 16,055 48,522 40,611 34,284 215,236
Lioving
Stock.
236,444
74,288
101,064
21,430
42,526
22,720
127,816
33,654
659,942
488,178
865,926
[VoL.
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
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Speculation in cotton futures has been more active during
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the week, but it has been at the expense of prices. Various
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things have conspired to bring about a decline. The stock
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market has been one of the most depressing factors. The
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violent break in securities has been followed by heavy sales
Wm
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of cotton by Wall Street houses which had been "long"
4.
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of that staple for some little time. There has also been
0 0. 00 00 0 00 00 00 00 CO 00 00
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sympathy with the severe "cut" in steel prices, especially
as it has given rise to fears of disturbances in that branch
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The general subject of the tariff revision has been a source
of more or less uneasiness. The dry-goods trade, though
'
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reported to be improving in certain branches, has not been
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a stimulating factor, the improvement being for the most
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part, it is stated, disappointingly slow. Rumors, apparnn
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ently unfounded, have been circulated to the effect that
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short time had been or was about to be adopted in Lancashire. On Thursday, at Charlotte, N. C., the Southern
44
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Hard Yarn Association it seems took action, looking to a
T3
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c:)t
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and accumulating stocks. Spot business at the South
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creased offerings and lower prices. Spinners takings have
shown some decrease, the crop movement on the whole
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has been heavier than expected and stocks at some leading
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cotton markets of the world are large. Western operators
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At times transactions have fallen to a very low ebb, owing
partly to a feeling of uncertainty as to the future outlook
THE VISIBLE SUPPLY OF COTTON to-night, as made
and a desire on the part of the majority of people to await
more light on this subject. But if the .Stock Exchange up by cable and telegraph, is as follows. Foreign stocks,
and steel trade news has been of a disturbing kind, and the as well as the afloat, are this .week's returns, and consespot trade and the dry-goods conditions anything but quently all foreign figures are brought down to Thursday
bracing, and rumors of possible complications between evening. But to make the total the complete figures for
Austria and Servia have also had a more or less depressing
effect, the weather news from Texas,on the other hand, has to-night (Friday), we add the item of exports from the United
been of a kind which has latterly made would-be short- States, including in it the exports of Friday only.
1907.
February 261908.
1906.
1909.
sellers more cautious. The Texas rainfall has been apparStock at Liverpool
bales.1,416,000 1,121,000 1,089,000 1,111,000
ently light. Certainly, the official reports have disclosed Stock
9,000
10,000
9,000
at London
9,000
74,000
77,000
61,000
83,000
no copious precipitation. • It is maintained that Texas Stock at Manchester
needs hard rains to put the .soil in proper condition for
Total Great Britain stock
1,508,000 1,205,000 1,175,000 1,181,000
14,000
12,000
cultivation. The eastern section of the belt has recently Stock at Hamburg
14,000
11,000
Bremen
Stock
at
466,000 423,000 450,000 391,000
been visited by heavy and beneficial rains, but the attention Stock at Havre
280,000
236,000
356,000 235,000
of the trade is now fixed upon Texas, and in fact the whole Stock at Marseilles
4,000
3,000
4,000
4,000
,
19,000
41,000
12,000
48,000
at Barcelona
Southwest. Also there has been a discussion, possibly Stock
120,000
19,000
86,000
Stock at Genoa
76,000
a trifle heated, of the danger of boll-weevil in Louisiana Stock at Trieste
6,000
19,000
3,000
2,000
and Mississippi, and of a possible further invasion of this
Total Continental stocks
903,000 755,000 890,000 746,000
pest eastward, and of the probable results. Without
Total European stocks
2,471,000 1,960,000 2,065,000 1,927,090
going deeply into the question at this time, it may be said
112,000
190,000
159,000
cotton afloat for Europe__ _ 124,000
here that the belief is quite general that the boll-weevil India
590,164
659.784
398,069
481,743
Amer. cotton afloat for Europe
30,000
55,000
pest will figure more or less largely in the future movements Egypt,Brazil,&c.,aflt. for Europe_ 39,000
49,000
248,000
233,000 189,000
315,000
in Alexandria. Egypt
of cotton quotations. The impression, too, is that unless Stock
593,000 618,000 967.000
499,000
Stock In Bombay, India
the Southwest is soon thoroughly drenched, the next crop Stock in U. S. ports
821,760 662,538 1,081,162 821,645
515,061
580,516 622,016
In U.S. Interior towns_ __ _ 771,997
will not get as good a start as could be desired. r,Po-day Stock
39,182
39,048
18,430
U. S. exports to-day
10,737
March notices were issued for about 10,000 bales, according
4,749,945
5,521,510
5,534,237
5,146,160
Total
visible
supply
to most estimates, and they were promptly stopped. Prices
Of the above, totals of American and other descriptions arc as follows:
thereupon made a moderate advance. On covering of
Americanbales.1,320,000 1,010,000 995,000 993,000
shorts, especially in March, Liverpool bought. Manchester Liver ool stock
61,000
63,000
68,000
Manchester stock
50,000
advices were conflicting; some reported a distinct improve- Continental
912,000 679,000 836,000 702,000
stock
481,743 590,164
659,784 398,069
ment in trade. Liverpool spot sales increased. Dry American afloat for Europe
821,760 662,538 1,081,162 821,645
U. S. port stocks
weather continued in Texas.
515,061
771,997
580,516 622,019
U. S. Interior stocks
39,182
10,737
39,048
18,430
The official quotation for middling upland cotton in the U. S. exports to-day
New York market each day for the past week has been:
4,386,237 3,556,945 4,254,510 3,605,160
Total American
Feb.
d
21 @I 21 21 21 2! ®1 P.1 °I 21 T1
CC.
20 to Feb. 26Middling uplands
Sat.
9.80
Mon. Tues.
H
9.65
Wed. Thurs.
9.65
9.65
Fri.
9.65
NEW YORK QUOTATIONS FOR 32 YEARS.
1909_c
1908
1907
1906
1905
1904
1905
1902
9.65
11.45
11.05
10.80
7.75
14.75
10.25
8.75
1901_•
1900
1899
1898
1897
1896
1895
1894
9.25
9.19
6.50
6.31
7.31
7.81
5.56
7.62
1893_c
1892
1891
1890
1889
1888
1887
1886
9.25
7.06
9.00
11.31
10.12
10.56
9.56
8.81
1885.c
1884
1883
1882
1881
1880
1879
1878
11.50
10.81
10.19
11.68
11.56
13.06
9.81
10.94
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Saturday.. _ Quiet, 5 pts. dec___
Monday
Tuesday _ _ ulet, 15 pts. dec__
Wednesday filet
Thursday _ filet
Friday_ ___ ulet
Total
Futures
Market
Closed.
Sales of Spot and Contract.
Con- ConSpot. sum'n. tract.
Barely steady
HOLIDAY
Easy
855
Very steady_
500
Steady
500
Barely steady 3,700
5,555
100
-566
Total.
955
500
500
4,000
400 5,955
East Indian, Brazil, etc.Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock In Alexandria, Egypt
Stock In Bombay, India
Total East India, &c
Total American
06,000
9,000
15,000
31,000
124,000
39,000
315,000
499,000
111,000
10,000
13,000
76,000
112,000
30,000
248,000
593,000
94,000
9,000
14,000
54,000
190,000
55,000
233,000
018,000
118,00Q
9,000
11,000
44,000
154,000
49.000
189,000
967,000
1,148,000 1,193,000 1,267,000 1,541,000
4,386,237 3,556,045 4,254,510 3,605,160
5,534,237 4,749,945 5,521,510 5,146,160
Total visible supply
Middling Upland, Liverpool
5.02d.
6.00d.
6.14d.
5.78d.
Middling Upland, New York_ _
9.65c.
11.35c.
11.25c.
11.100.
Egypt, Good Brown, Liverpool
8.9-16d. 8 Y4d.
12 %d.
930.
Peruvian, Rough Good, Liverpool
7.75d.
10.50d.
9.65d.
8.75d.
Broach, Fine, Liverpool
4.15-16d. 65%d.
5 frid.
5 -id.
Tinnevelly, Good, Liverpool
4.7-8d.
534d. 5 7-16(1. 5 7-10d.
Continental imports for the past week have been over
144,000 bales.
The above figures for 1908 show a decrease from last
week of 69,641 bales, a gain of 784,292 bales from 918,
an increase of 12,727 bales from 1907 and a gain of 3077
bales over 1906.
FEB. 27 1909.)
THE CHRONICLE
AT THE INTERIOR TOWNS the movement-that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year-is set out
in detail below.
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Movement to February 26 1909. 11 Movement to February 28 1908.
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,
11
NWNN0N4N7.00.00.N 06
.
00 1...10.
N.
0 4N Cs
.
0NW0N.S000.0.0.00.NNO&00.4.00,WWW0.
.0
.4mwmocowox...0000womeowo.wo
Movement into sight in previous years:
Week1907-Mch. 1
1906-Mch. 2
1905-Mch. 3
Bales.
Since Sept. 1265,263 1906-07-Mch. 1
140,420 1905-06-Mch. 2
222,531 1904-05-Mch. 3
Bales.
10,895,472
8,613,263
9,485,395
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
Closing Quotations for Middling Cotton on-
Week endingFebruary 26.
q
"
573
Sat'day. Monday. Tuesday. Wed'day, Thursd'W, Friday.
Galveston
New Orleans_ _ _
Mobile
Savannah
Charleston
Wilmington_ _
Norfolk
Boston
Baltimore
Philadelphia _ _ _
Augusta
Memphis
St. Louis
Houston
Little Rock..
9 9-16
9 7-16
9 7-16
9 5-16
9 3-16
9 3-16
9 9-16
9.85
9%
10.05
9 9-16
9%
9 '7-16
9%
934
HOLIDAY.
93
HOLIDAY
9
9 9-16
9.80
9%
9.90
9%
9 5-16
9 7-16
9%
834
9%
9 7-16
9 7-16
9 3-16
9 7-16
9.65
9%
9.90
9 7-16
9 5-16
9%
9 5-16
8 13-16
9 7-16
9 5-16
9 7-16
9 3-16
9
9
9%
9.65
9%
9.90
9%
9 5-16
9%
9 5-16
8
9 7-16
9 5-16
S1-16
9
9
9%
9.65
9%
9.90
9%
9 5-16
9%
9 5-16
8 13,16
NEW ORLEANS OPTION MARKET.-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sarday, Monday, Tuesday, Wed'day, Thursd'y, Friday.
Feb. 20. Feb. 22. Feb. 23. Feb. 24. Feb. 25. Feb. 26.
FebruaryRange
Closing
MarchRange
Closing
AprilRange
Closing
MayRange
Closing
Jtten-
Range
Closing
JulyRange
Closing
OctoberRange
Closing
DecemberRange
Closing
JanuaryRange
Closing
ToneSpot
Options
• Nominal.
-@ 9.30 9.40-.51
9.41-.42
- ® -- @ -- @ 9.15 • 9.12 • 9.15 •
9.17-.29 9.12-.25 9.21-.24
9.26-.27 9.18-.19 9.22 -
-® 9.41 •
- @ -- @ -- @ 9.26 •
9.18 • 9.21 •
9.52-.60
9.53-.54
9.30-.43 9.30-.40 9.35-.42
9.40-.41 9.35-.$6 9.37 HOLTDAY. - ® -- @ -- @ 9.44-.46 9.39-.41 9.44-.46
HOLI- ® - DAY.
9.57-.59
9.63-.71
9.64-.65
9.42-.54 9.44-.54 9.48-.54
9.53-.54 9.48-.49 9.49-.50
9.29-.38
9.29-.30
9.15-.23 9.17-.24 9.21-.26
9.22-.23 9.21-.22 9.22-.23
-@ 9.23-.25
9.14-.15 9.15-.20 9.18 9.18-.20 9.17-.18 9.18-.20
-@9.23 -
9.14 -- @ - 9-17-•21
9.18 - 9.17 - 9.20-.21
Quiet.
Steady.
Weak.
Easy. . Easy.
Steady. Steady. Steady.
The above totals show that the interior stocks have deWEATHER REPORTS BY TELEGRAPH.-Reports to
creased during the week 22,209 bales and are to-night 226,936
bales more than at the same time last year. The receipts us by telegraph from the South this evening indicate that
at all the towns has been 1,331 bales more than the same while dry weather has been quite general in Texas during
the week, rain has fallen in most sections elsewhere. In
week last year.
some portions of the Atlantic States and of Arkansas and
OVERLAND MOVEMENT FOR THE WEEK AND Mississippi the rainfall has been rather heavy. Farm work
SINCE SEPT. 1.-We give below a statement showing is on the whole making fairly good progress.
the overland movement for the week and since Sept. 1, as
Galveston, Texas.-It has rained on one day during the
made up from telegraphic reports Friday night. The week, the rainfall reaching four hundredths of an inch.
results for the week and since Sept. 1 in the last two years Average thermometer 59, highest 72 and lowest 46.
are as follows:
Abilene, Texas.-There has been no rain during the week.
----1908-09-------1907-08---February 26Since
Since The thermometer has averaged 52, the highest being 76
ShippedWeek. Sept. 1.
Week. Sept. 1. and the lowest 28.
,._16,159 483,237
Via St. Louts
15,931
294,273
Corpus Christi, Texas.-We have had no rain during the
5,880
Via Cairo
250,482
134,101
4,103
587
22,890
Via Rock Island
21,277 week. The thermometer has averaged 66, ranging from
1,561
794
57,912
Via Louisville
968
38,884 48 to 84.
.. 1,136
35,435
V a Gnc nnati
988
29.124
Fort Worth, Texas.-There has been no rain during the
2,018
144,535
Via Virginia points
4,327
65,165
2,481
216,304
6,284
Via other routes, aDc
176,635 week. The thermometer has ranged from 32 to 82, averag29,064 1,219,705
34,162
Total gross overland
759,459 ing 57.
Palestine, Texas.-It has rained on one day of the week,
Deduct shipments111,786
Overland to N. V., Boston, &c.._ 2,207
5,833
73,713 the precipitation being one hundredth of an inch. Aver694
37,349
Between interior towns
562
56,120
25,464
1,206
Inland, doe., from South
1,164
44,822 age thermometer 54, highest 78, lowest 30.
San Antonio, Texas.-There has been no rain during the
4,107
174,599
Total to be deducted
7,559
174,655
week. The thermometer has averaged 61, the highest beLeaving total net overland •
24,057 1,045,196
584,804 ing 88 and the lowest 34.
26,603
Taylor, Texas.-There has been a trace of rain on one day
• Including movement by rail to Canada.
of the past week. The thermometer has averaged 57, rangThe foregoing shows the week's net overland movement ing from 30 to 84.
has been 24,957 bales, against 26,603 bales for the week
New Orleans Louisiana.-We have had rain on one day
last year, and that for the season to date the aggregate during the week, the rainfall being forty-five
hundredths of
net overland exhibits an increase over a year ago of 460,392 an inch. The thermometer has averaged 62.
bales.
Shreveport, Louisiana.-We have had rain on one day dur-----1908-09----- -----1907-08----ing the week,to the extent of thirteen hundredths of an inch.
In Sight and Spinners'
Since
Since
Takings.
Week. Sept. 1.
Week. Sept. 1. Average thermometer 57, highest 80, lowest 33.
Receipts at ports to Feb. 26
128,987 8,040,625 117,984 6,820,996
Vicksburg, Mississippi.-We have had rain on two days
Net overland to Feb. 26
24,957 1,045,196
584,804
26,603
the week, thQprecipitation being one inch and seventySouthern consumption to Feb. 26_a 48,000 1,158,000
45,000 1,238,000 during
five hundredths. The thermometer has averaged 61, the
Total marketed
201,944 10,243,821 189,587 8,652,800 highest being 81 and the lowest
37.
Interior stocks in excess
657,982
•22,209
434,478
*2,954
Helena, Arkansas.-Too much rain this week, and river
Came into sight during week_ _ _ A79,735
186,633
indications favor an overflow. We have had ram on three
Total in sight Feb. 26
10,901,803
9,087,278
days during the week, the rainfall reaching two inches and
North. spinners' takings to Feb. 26 41,668 1,991,082
46,290 1,172,234 fifty-three hundredths. The thermometer has averaged 54,
a These figures are not the takings by Southern mills, but are estimates of ragning from 31 to 74.
consumption based on information received from time to time during the
Memphis, Tennessee.-Rainfall for the week three inches
season and revised if necessary when complete returns are received at
season's close. Reports from various sections of the South indicate that and twenty-three hundredths on three days. Average
takings by the mills have thus far this season been appreciably heavier thermometer 52.7, highest 75.4, lowest 34.
than during the corresponding period a year ago, but actual or approximate
Mobile, Alabama.-Farm work is making fair progress.
data are not obtainable.
There has been rain on three days of the past week, the rainDecrease during week.
fall reaching sixty-eight hundredths of an inch. The thermometer has averaged 59, ranging from 38 to 72.
Montgomery, Alabama.-The market is inactive, as holders are not willing to sell cotton at present prices. We have
had rain on four days during the week, the rainfall being one
inch and fifty-seven hundredths. The thermometer has
ranged from 34 to 78, averaging 60.
Selma, Alabama.-It has rained on three days of the week,
the precipitation being one inch and fifty-five hundredths.
Average thermometer 54, highest 80, lowest 30.
Little Rock, Arkansas.-We have had rain on two days
during the week, the rainfall reaching two inches and seven
hundredths. The thermometer has ranged from 30 to 74,
averaging 52.
Madison, Florida.-There has been rain on one day during the week, the rainfall being twenty-five hundredths of
an inch. The thermometer has averaged 58, the highest
being 80 and the lowest 33.
Augusta, Georgia.-We have had rain on five days of the
week, to the extent of two inches and ninety-eight hundredths. The thermometer has averaged 58, ranging from
36 to Si.
Pt* Savannah, Georgia.-There has been rain on four days during the week, the rainfall reaching fifty-three hundredths
of an inch. Average thermometer 61, highest 77 and lowest
38.
Charlotte, North Carolina.-We have had rain on three days
during the week, the rainfall reaching one inch and seventysix hundredths. The thermometer has ranged from 31 to
69, averaging 53.
Greenwood, South Carolina.-It has rained on three days of
the week, the precipitation reaching one inch and seventyhundredths. The thermometer has averaged 53, the highest being 65 and the lowest 42.
Charleston, South Carolina.-It has rained on two days
during the week, the rainfall reaching forty-seven hundredths
of an inch. Average thermometer 57, highest 75 and
lowest 39.
Stateburg, South Carolina.-Thunder-storms occurred for
several days, accompanied by high winds and followed by
cold waves, but fortunately not much freezing. There has
been rain on four days during the week, to the extent of
two inches and sixty-seven hundredths. The thermometer
has ranged from 34 to 79, averaging 58.
The following statement we have also received by telegraph, showing the height of rivers at the points named at
8 a. m. of the dates given:
Above zero
Above zero
Above zero
Above zero
Above zero
New Orleans
Memphis
Nashville
Shreveport
Vicksburg
of
of
of
of
of
Feb. 26 1909. Feb. 28 1908
Feet.
Feet.
10.1
14.4
30..
34.1
39.0
12.1
4.8
10.3
33.9
39.9
gauge_
gauge..
gauge_
gauge_
gauge_
INDIA COTTON MOVEMENT FROM ALL PORTS.
February 25.
1908-09.
1907-08.
1906-07.
Receipts at-
Since
Week. Sept. 1.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
Bombay
80,000 1,194,000 68,000 1,194,000 90 000 1,453,000
1 '
For the Week.
Exports from-
[VoL. Lxxxvin.
THE CHRONICLE
574
Great ContiBritain. nent.
Bombay190-809
1907-08
1906-07
Calcutta-1908-09
1907-08
1906-07
Madras1908-09
1907-08
1906-07
All others1908-09
1907-08
1906-07
Total,a111908-09
1907-08
1906-07
Total.
7,000 7,000
5,000 5,000
5,000 33,000 38,000
1,000
1,006
7;666
1,000
1,000
5,000
6-0565
Since September 1.
Great
Britain.
Continent.
Total.
16,000
12,000
23,000
297,000
292,000
523,000
313,000
304,000
546.000
4,000
3,000
4,000
20,000
9,000
54,000
24,000
12,000
58,000
14,000
23,000
16,000
17,000
29,000
18,000
1,000
1,000
1;665
1,000
3,000
6,000
2,000
3,000
2,000
6,000
3,000
2,000
7,000
8,000
8,000
7,000
79,000
78,000
50,000
87,000
86,000
57,000
11,000 11,000
8,000 8,000
45,000 52,000
31,000
29,000
36,000
410,000
402,000
643,000
441,000
431,000
679,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria. Egypt,
February 24.
Receipts (cantars)This week
Since Sept. 1
1907-08.
1906-07.
170,000
5,896,636
175,000
6,146,989
135,000
6,403,515
This Since
This Since
This Since
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
Exports (bales)-
7,750 130,301
_ 132,159
5,500 209,043
4,250 46,646
To Liverpool
To Manchester
To Continent
To America
Total exports
1908-09.
17,5001518,149
Note.-A cantar Is 99 lbs.
2,250 165,462
144,396
6;666 227,369
750 44,076
1,250 160,269
6,000 153,301
7,250 240,607
2,500 83,691
9,000 581,303 17,000 637,868
Egyptian ba es weigh about 750 lbs.
This statement shows that the receipts for the week were
170,000 cantars and the foreign shipments 17,500 bales.
WORLD'S SUPPLY AND TAKINGS OF COTTON.
The following brief but comprehensive statement indicates
at a glance the world's supply of cotton for the week and
since Sept. 1, for the last two seasons, from all sources from
which statistics are obtainable, also the takings, or amounts
gone out of sight, for the like period.
1908-09.
Cotton Takings.
Week and Season.
Week.
1907-08.
Season.
Week.
Season.
5,603,878
4,836,686
Visible supply Feb. 19
,714,982
1
Visible supply Sept. 1
0.
84-1-,gi
American In sight to Feb. 26_ _ _ 179,735 10,901,803 186,633 9,80,000 1,194,000
68,000 1,194,000
Bombay receipts to Feb. 25_ _ _
4,000
128,000
3,000
127,000
Other India ship'ts to Feb. 25__
786,000
22,000
23,000
Alexandria receipts to Feb. 24 _ _
819,000
153,000
1,000
187,000
Other supply to Feb. 24•
5,889,613 14,877,785 5,118,319 13,706,122
Total supply
DeductVisible supply Feb. 26
5,534,237 5,534,237 4,749,945 4,749,945
355.376 9,343,548
225,376 7,492.548
130,000 1.851,000
Total takings to Feb. 26
Of which American
Of which other
368,374 8,956,177
297,374 6,866,177
71,000 2,090,000
• 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
continues quiet for both yarns and shirtings. Merchants are
buying very sparingly. We give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison.
1908.
1909.
83 lbs. Skirt- Coen
ings, common Mid.
to finest.
Upt's
32s Cop
Twist.
d.
Jan
15 7% 0
22 7% 0
29 7 13-160
Feb
5 7 11-160
11 7 9 -160
19 7% 0
26 7% 0
d.
d.
s. d.
sg lbs. Skirt32s Cop
Twist.
d.
Corn
ings, common
Upt's
to finest.
d. s. d.
s. d.
d.
8% 4 8 08 6
5.14 10% €1 11% 60 09 3
8% 4 9 08 7% 6.30 10% 0 11% 60 09 3
8% 4 9 08 7% 5.29 10% 0 11A 5 11 09 2
6 50
6.43
6.39
8% 4
83.1 4
8,s 4
8 4
6.35
6.21
6.14
6.00
8
7
6
6
07
07
(437
07
7%
8
7
6%
5.15 9 15-160
5 11 9% 0
5.09 9%
5.02 9% 0
11A 5 10
10% 50
10% 56
10% 55
09
09
08
08
1
0
10
9
COTTON STATISTICS FOR WEEK ENDING FEB. 12.
-Lincoln's Birthday having been a holiday, we went to
press on Thursday night, and our cotton statistics therefore
covered an imperfect week. We have this week, however,
revised all the results so as to make them cover the full week
ending Friday, Feb. 12, and they are as follows:
Since
Week
Feb. 12. Sept. 1.
Net receipts
Stock at U. S. ports
Foreign exports
Visible supply
American visible
Interior town receipts
Interior town shipments
Interior town stocks
Receipts from plantations
Net overland
Southern consumption
Interior stock increase
Into sight
Northern spinners' takings
World's takings
American takings
Other takings
201,591 7,770,026
899,569
190,962 6,149,007
5,620,929
4,525,929
124,050 5,757,602
137,940
804,369
187,701 8,460,380
37,230 982,163
48,000 1,062,000
•13,890 690,354
272,931 10504 543
67,277 1,858,976
419,598 8,632,596
302,598 6,955,596
117,000 1,677,000
• Decrease.
EXPORTS OF BREADSTUFFS, PROVISIONS, COTTON AND PETROLEUM.-The exports of these articles
during the month of January, and the seven months, for
the past three years have been as follows:
1907 08.
1908 09.
1906 07.
Exports
from
United States. January. 7 Months. January. ? Months. January. 7 Months
Quantities.
Wheat __bush 3,471,442 57,962,610 12,112,315 79,911,515 5,986,368 53,707,017
922,421 7,294,613, 1,465,726 8,765,305 1,109,282 8,708,687
Flour___bbls
Wheat*___bu 7,602,336 90,788,368118,709,082 114,355,387 10,978,137 92,896,108
Corn___bush 0,171,444 18,722,493 6,381,527 33,593,936 9,144,313 36,564,889
5
Total bush.__ 13,793,780 109,510,861 25,000,609 147,949,323 20,122,450129,460,9.
$
s
$
Values.
$
3
wheat & don 7,887,529 92,849,236 19,336,428 116,216,149 9,095,660 76,043,402
Corn & meal.. 4,255,380 13,453,018 4,225,657 22,887,943 4,783,805 20,636,083
941,823 387,257 1,079,972
29,912
26,648
143,895
Rye
918,357
324,616
129,850
752,12
164,312 1,925,352
Oats & meal_
426,455 2,485,156
400,540 4,133,673
969,034 3,499,193
Barley
Breadstuffs. 12,897,977 112,296,10624,504,658 142,421,34014,539,459 102,247,925
Provisions _ 13,579,756 85,274,721 16,355,194 98,357,827 17,067,567 104,517,687
- 1,731,219 11,205,667 3,190,349 17,653,631 3,217,103 18,396,665
Cattle & hogs
52,517,999293,826,90777,030,134 317,194,361 69,990,636321,544,632
Cotton
Petroleum ,& 7,906,717 60,396,835 7,631,261 56,009,940 5,452,959 46,060,262
Total value_ 88,633,668 563,000,236 128711 494631,632,098 110267 724592,767,171
ssa
herels.
otuhre reducedfitgourbeu
above
based on the monthly preliminary returns
Statistics,
and
cover about 96% of the total exports.
issued by the Bureau of
c
fIncluding
tne.
*
No
The aggregate exports from the United States of wheat
and wheat flour, expressed in bushels, for the seven months
from July 1 to Jan. 31, inclusive, have been as follows for
rs:
four years:
WHEAT EXPORTS FROM JULY 1 TO JANUARY 31.
Wheat, buhsels
Flour, reduced to bushels
Total bushels
1905-06.
1906-07.
1908-09.
1907-08.
57,962,610 74,911,515 53,707,017 24,251,686
32,825,758 39,443,872 39,189,001 38,224,822
90,788,368 114,355,387 92,896,108 62,476,508
-
•
-
FALL RIVER MILL DIVIDENDS.-Thirty-four cotton-manufacturing corporations in Fall River have declared dividends during the first quarter of the year;and the
total amount paid out (due to an exceptionally large dividend by one mill) is $120,575 more than for the corresponding period of 1908 and $85,225 greater than in 1907, when
extra dividends served to swell the total . The aggregate of
the amount distributed has been $682,125, or an average of
2.71% on the capital. In 1908 thirty-three mills made
distribution, and the average rate was 2.27%. In 1907
the average rate was 2.70%,in 1906 was 1.94%, in 1905
was only 0.32%; in 1904 it was 1.21%; in 1903 it was 1.44%;
in 1902 it was 1.41%; in 1901 it was 1.73%; in 1900 it was
1.81%; in 1899 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 year's rate of dividend payments is greater than in the first quarter of any year since
1896.
First Quarter
and 1908.
1909
575
THE CHRONICLE
FEB. 27 1909.]
Capital.
$
American Linen Co
800,000
Ancona Mills
300,000
Arkwright Mills
450,000
Barnard Mfg. Co
495,000
Border City Mfg. Co
1,000,000
Bourne Mills'
1,000,000
Chace Mills
1,200,000
300,000
Conanicut Mills
400,000
Cornell Mills
500,000
Davis Mills
500,000
Davol Mills
580,000
Flint Mills
1,000,000
Granite Mills
800,000
Hargraves Mills
1,500.000
King Philip Mills
600,000
Laurel Lake Mills
350,000
Luther Mfg. Co
750,000
Mechanics' Mills
1,200,000
Merchants' Mfg. Co
400,000
Narragansett Mills
750,000
Osborn Mills
800,000
Parker Mills
1,200,000
Poca.sset Mfg. Co
Richard Borden Mfg. Co_ 1,000,000
900,000
Sagamore Mfg. Co
600,000
Seaconnet Mills
550,000
Shove Mills
1,000,000
Stafford Mills
700,000
Stevens Mfg. Co
750,000
Tecumseh Mills
Troy Cotton & Wool Mfg.
300,000
Co
Union Cotton Mfg. Co.._ 1,200,000
750,000
Wampanoag Mills
Weetamoe Mills
500,000
Total
25,125,000
Dividends 1909. Dividends 1908. Inc.(+)
or
P.C. Amount. P. C. Amount. Dec.(-).
IA
al
1
1
134
1
2
131
2
134
134
lA
2
134
134
2
134
134
1%
2
1;4
134
1%
2
2
1%
134
134
134
134
4
25
1
1.34
2.71
$
12,000
1,500
6,750
7,425
15,000
10,000
24,000
4,500
3,000
7,500
7,500
8,700
20,000
12,000
22,500
12,000
5,250
11,250
18,000
8,000
11,250
12,000
18,000
20,000
18,000
9,000
8,250
15,000
10,500
11,250
12,000
300,000
7,500
7,500
682,125
$
12,000
134
a1341,500
6,750
134
9,900 --2,475
2
15,000
134
15,000 -5,000
154
24,000
2
4,500
1%
20,000 -12,000
55
7,500
134
7,500
134
17,900 -8,700
d3
20,000
2
12,000
lA
22,500
134
30,000 -18,000
5
Nod ividend. +5,250
15,000 -3,750
2
18,000
134
8,000
2
134 11,250
12,000
1%
18,000
154
75,000 -55,000
734
45,000 -27,000
5
9,000
154
8,250
1%
1%
15,000
1%
10,500
37,500 -26,250
5
18,000 -6,000
6
18,000 +282,000
154
1
7,500
10,000 -2,500
2
2.27 561,550 +120,575
a On $100,000 preferred stack. b 2% regular and 3% extra. d 2% regular and
1% extra. h On capital of 524,775,000.
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 84,353 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-Feb. 24-Georgic, 113 upland, 10 Sea
173
Island, 50 foreign
To ManChester-Feb. 23-Cervantes,800 upland, 212 Sea Island 1,012
75
To Marseilles-Feb. 20-Madonna, 75
To Bremen-Feb. 20-Prinz Friedrich Wilhelm, 1,913_ __Feb.
2,526
24-Brandenburg, 613
825
To Antwerp-Feb. 23-Gothland, 600: St. Andrew, 225
476
To Barcelona-Feb. 23-Victorious, 476
195
To Genoa-Feb. 19-Cedric, 195
100
_ ,.
TQ Naples-Feb. 19-Cedric, 100
200
To Venice-Feb. 23-Alice, 200
400
To Trieste-Feb. 23-Alice, 407
GALVESTON-To Liverpool-Feb. 19-Almerian, 4,951_ _ _Feb.
8,756
23-Benedick, 3,805
5,440
To Havre-Feb. 18-Madwaska, 5,440
To Bremen-Feb. 19-Hannover, 12,165_ _ _Feb. 24-Crown of
20,669
Arragon,8,504
1,925
To Hamburg-Feb. 19-Madawaska, 1,925
1,894
To Reval-Feb. 23-Carrigan Head, 1,894
650
To Riga-Feb. 23-Carrigan Head, 650
7,426
PORT ARTHUR-To Liverpool-Feb. 23-Rosebank, 7,426
1,147
TEXAS CITY-To Mexico-Feb. 19-Norhelm, 1,147
6,000
NEW ORLEANS-To Manchester-Feb. 26-Median,6,000
1,100
To London-Feb. 26-Jamaican, 1,100
28
To Rotterdam-Feb. 25-Hartlepool, 28
436
To Antwerp-Feb.20-Diadem,436
600
To Barcelona-Feb. 19-Sicania, 600
1,257
To Genoa-Feb. 19-Sicanla, 1,257
150
To Mexico-Feb. 20-Nordboen, 150
600
To Japan-Feb. 26-St. Patrick, 600
4,711
MOBILE-To Manchester-Feb. 19-Median, 4,711
5,875
SAVANNAH-To Barcelona-Feb. 23-Marianne, 5,875
1,750
To Trleste-Feb. 23-Marianne, 1.750
700
To Venice-Feb. 23-Marianne, 700
400
To Flume-Feb. 23-Marianne, 400
BOSTON-To Liverpool-Feb. 22-Saxonia, 499__Feb. 23-Wini964
fredian, 465
100
To Yarmouth-Feb. 16-Boston, 100
PHILADELPHIA-To Liverpool-Feb.9-Dominion,2,750.. _ _ Feb.
4,641
19-Merlon, 1,891
795
SEATTLE-To Japan-Feb. 18-Kumeric, 795
60
To Manila-Feb. 18-Kumeric, 60
250
TACOMA-To Japan-Feb. 23-Cyclops, 250
40
To Manila-Feb. 23-Cyclops, 40
84,353
Total
The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
Great French Ger- -Oth.Europe- Mex..
Britain. ports. many. North. South. &c. Japan.
Total.
5,989
75 2,526 825 1,378 --1,185
New York
Galveston
- 39,334
8,756 5,440 22,594 2,544,
_ 7,426
_
7,426 ___- ---- ---_
Port Arthur
1,147
1,147
Texas City
464 1,857
150 600 10,171
New Orleans_ _ _ 7,100 _
4,711
4,711
Mobile
8,725
8-hia
_
Savannah
1,064
964 _ _ _ _
100
Boston
4,641
4,641 _ _ _ _
Philadelphia
855
-66 i0-5.
Seattle
290
40 250
Tacoma
34,783 5,515 25,120 3,833 11,960 1,497 1,645 84,353
Total
The exports to Japan since Sept.1 have been 111,926 bales,
from Pacific ports 600 bales from New Orleans and 20,850
bales from New York.
Cotton freights at New York the past week have been as
follows, quotations being in cents per 100 lbs.:
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
12
12
Liverpool
12
12
12
11
11
Manchester
11
11
11
15
15
Havre
15
15
15
18
18
18
Bremen
18
18
25
25
Hamburg
25
25
25
18
18
Antwerp
18
18
HOLI18
26
Ghent, via Antwerp 26
26
DAY.
26
26
30
Reval
30
30
30
30
Gothenburg
36
36
36
36
36
Barcelona. direct _ _ 25
25
25
25
18
Genoa
18
18
18
18
301
Trieste
30
30
30
30
Japan
451
45
45
45
45
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port:
Feb. 26.
Feb. 19.
Feb. 12.
Feb. 5.
55,000
42,000
Sales of the week
bales_ 41,000
42,000
3,000
Of which speculators took__
4,000
1,000
2,000
1,000
1,000
Of which exporters took..__
1,000
2,000
52,000
39,000
Sales, American
38,000
38,000
10,000
10,000
Actual export
12,000
5,000
106,000
81,000
125,000
90,000
Forwarded
1,274,000 1,346,000 1,382,000 1,416,000
Total stock-Estimated
Of which American-Est_ _1,169,000 1,239,000 1,283,000 1,320,000
150,000
167,000
Total imports of the week_ __ _ 123,000
123,000
182,000
109,000 124,000
Of which American
146,000
423,000
359,000 363,000
259,000
Amount afloat
224,000
368,000 310,000 308,000
Of which American
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.
Saturday.
Market, 1
12:15 }
P.M. I
Mid.Upl'ds
Sales
Spec. &exp
Futures.
Market
opened
Market
4
P.M.
I
f
1
I
Quiet.
Monday.
Tuesday.
Moderate
Fair
demand, doing.
5.07
5.07
8,000
10,000
1,000
1,500
5.11
4,000
500
Quiet at
102 pts. Quiet.
decline.
Idle at Quiet at
13402A 234 04;4
pts. dec. pts. dec.
Quiet,
unch.
Quiet at 1
pt.dec.to 1
pt. adv.
1Ved'day.
Thursday.
Fair
business
doing,
5.01
12,000
1,000
Steady at
4 points
decline,
Steady at
306 pts.
pts. dec
Moderate
demand.
5.03
8,000
500
Steady at
1 point
advance.
Quiet at 1
pt.dee.to%
pt. adv.
Friday.
,
Moderate
demand.
5.02
10,000
1,000
Steady,
unch.
Steady at
205 pie.
advance.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths. Thus: 5 03 means 5 03.1000.
Fri.
Wed.
Thurs. I
Mon.
Sat.
Tues.
Feb. 20
1234 12 34 1234 4 1234 4 1231 4 1234 4 1234 4
to
Feb. 26. P.m. p.m. P.m. p.m. 13.m• p.m. P.m. P.m. P.m. 13.m. P
.P.m
d.
February
Feb.-Mch.
Mch.- Apr.
Apr.-May
May-June
June-July
July-Aug_
Aug.-Sept
Sept.-Oct.
Oct.-Nov
Nov.-Dec.
Dec.-Jan_
Jan.-Feb _
d.
5 03
5 02
5 30
5 04
5 05 34
5 0634
5 07
5 0134
4 9734
4 95
4 93
4 92
4 91
d. d. d. d. d. d. d. d. d.
98% 99 99 9234 93 95 92 ,92 97
98 99 99 9234 93 9434 92 .92 9634
99 00 99% 9334 94 9554 93 93 9634
00 01 00% 95 95 9654 94 94 97%
____ 02 02 02 96 9654 9834 96 98 9954
0214 03 97 98 99 97 97 0034
0334 0334 97% 9834 00 98 98 01
94 94 97
9834 98 98 9234 9334 95 90
,90 93
94 94 89 90 92
_ _ __ 92 9134 9134 8654 88 90 88 88 90
____ 90 8934 8934 8434 86 88 86 86 88
_ _ 89 8834 8834 84 8534 87 85 85 8734
88% 87% 8734 83 8434 86 8434 8434 8654
a.
BREADSTUFFS
Friday Night, Feb. 26 1909.
In response to higher prices for wheat, flour has been
very firm, with a manifest and very natural upward tendency of quotations. It must be confessed, however, that
trade has thereby been very noticeably restricted. The
transactions have been largely of the hand-to-mout order,
so far s most grades are concerned, though a fair business
has been done in some trade brands. Similar reports as to
the slowness of trade come from the Northwest. The total
sales do not equal the output, notwithstanding the fact that
Minneapolis prices have been relatively lower than those of
most other centres. To-day the market was very strong,
with wheat still moving upward, but trade showed little
improvement here, though reported better at the West.
Wheat has advanced almost continuously, steadily making
new high records for the season. The reason is to be sought
chiefly in the strength of the ca h situation at home and
abroad. The world shipments have been liberal, it is true,
taken in the aggregate. But the estimates for the present
week for Argentine and Australia show a noteworthy falling
off. Foreign markets have been advancing. Threatened
political complications in Europe have had some slight
effect. The Continent has been buyin freely in Liverpool.
Also the season for crop scares seems to be not far off.
From time to time during the winter, stress has been laid
on the fact that the snow covering here and there in the
winter-wheat belt has been rather scanty. Now come reports that Hessian flies have made their appearance in large
numbers in parts f Kansas and Missouri. The gist of most
reports in regard to the crop, it is true, are favorable, but
powerful bull interests are at work in the market, and the
feeling is more or less nervous among the advocates of lower
prices. As usual it is safe to assume that the most will be
[VOL. LXXXVIII.
THE CHRONICLE
576
made of reports of insect damage or of any other factor
calculated to push up prices. Meantime Chicago reports
state that 150,000 bushels of hard winter wheat have just
been sold to come to that market from Omaha. Pacific
Coast millers are reported to be inquiring for wheat in Minneapolis, where, by the way, elevator people have also been
good buyers. It is said that a Chicago mill has sold around
lot of winter-wheat flour to go to. Omaha, Neb., for the first
time in the history of the trade. German crop advices have
been rather unfavorable. Some reports are to the effect that
in certain provinces of East India the winter-wheat crop is
likely to be a failure, and that there is a large demand for
f od grains at hig i prices. Stocks in Continental markets
are small, and there has been a sharp demand, partly from
the shorts. A recent estimate of the Argentine exportable
surplus puts it as low as 92,000, 00 bushels, against 140,000,000 last year. From France reports of damage are being
received. Official crop advices from Hungary are not
favor ble. High prices rule in Russia, accompanied by
fair exports, but Russian advices stat that should prices
decline the exports will be small. Large bull operators at
Chicago give the market support from time to time, and
though they have apparently reduced their holdings somewhat on the recent advance, there is an idea that there is
still a large concentrated long interest. To-day prices
advanced sharply. Argentine and Australian shipments
were smaller than expected. Reports about the hard-winter
crop were favorable, but as regards the soft-winter wheat
were adverse. The foreign markets were strong and higher.
Shorts in this country covered freely and leading bulls
bought. The cash markets were particularly strong.
NEW YORK.
DAILY CLOSING PRICES OF WHEAT FUTURES IN
Sat. Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter
122
1224 122% 124% 12634
May delivery in elevator
119
Holl- 119
119% 120% 1223,6
July delivery in elevator
109
day. 109% 111
112h 113
DAILY CLOSING PRICES OF WHEAT FUTURES IN
Sat. Mon. Tues. Wed. Thurs. Fri.
May delivery in elevator
11534
11534 116
116% 11834
July delivery in elevator
10034 Holl- 10134 10334 10434 10534
September delivery in elevator_ _ __ 955% day. 9634 97% 98
9934
December delivery in elevator_ __ _ 9634
97% 9834 99% ____
CHICAGO.
GRAIN.
Wheat, per bush.Corn, per bush.N. Duluth, No. 1
126
No. 2 mixed
el. 743-4
N. Duluth, No. 2
124
No. 2 yellow
_ Nominal.
Red winter, No. 2
No. 2 white
f.o.b.12634
Nominal.
"
Hard "
124
Rye, per bush.Oats, per bush.No. 2 Western
f.o.b. 86
Natural white,26 to 2albs 56 (d)58
State and Jersey
Nominal.
No. 2 white
58@ 60 Barley-Malting
72 ®78
White clipped
58@60
Feeding . c. l. 1. N. Y.._
70 6:071
The statement of the movement of broadstuffs to market as
indicated below are prepared by us from figures collected by
he New York Produce Exchange. The receipts at Western
ake and riv er ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Receipts at-
Flour.
Wheat.
Corn.
Oats.
Barley.
Rye.
bbls.10(ilbs. bush.60 lbs. bush. 56 lbs. bush. 32 lbs. bush.481bs. bu.56 lbs
Chicago
163,200 1,778,951 1,211,760
159,868
489,000
28,000
63,478
158,400
Milwaukee74,300
116,700
155,100
16,400
Duluth
228,532
40,975
55,559
39,935
533
60,920
Minneapolis_
1,573,100
243,000
296,310
37,793
74,900
19,000
Toledo
27,800
62,224
40,595
35,644
2,600
Detroit
131,240
139,300
12,340
Cleveland
853
23,610
302,400
500,500
280,000
47,880
St. Louls
71,500
2,000
110,500
26,000
533,334
23,150
Peoria
19,000
9,000
683,450
264,000
96,000
Kansas City.
Tot.wk.'09
Same wk.'08
Same wk.'07
297,829
270,006
335,895
3,100,517
1,876,648
3,930,463
2,357,183 1,094,455
2,396,140
744,433
3,068,446 1,136,912
3,586,924
1,598,229
5,765,302
93,726
82,480
155,189
Since Aug. 1
1908-09
12,216,362 170,941,799 85,445,192 104,941,179 59,869,161 4,808,203
10,823,967 159,479,672 117,153,616 114,935,684 48,444,758 5,151,379
1907-08
12,699,465 157,502,651 121,737,064 124,445,769 48,270,927 5,302,161
1906-07_
Total receipts of flour and grain at the seaboard ports for
the week ended Feb. 20 1909 follow:
Flour,
Receipts atbbls.
New York ____,_ 125,580
Boston
31,141
Portland, Me
18,340
61,264
Philadelphia
35,054
Baltimore
Richmond
2,983
New Orleans *-.. 17,304
Newport News
1,071
Norfolk
2,499
Galveston
Mobile
700
Montreal
3,060
40,321
St. John
Wheat,
bush.
306,000
71,173
366,458
7,156
23,896
58,324
28,600
Oats,
Corn,
bush. ' bush.
218,075
139,350
76,292
27,162
33,779
20,963
120,467
218,563
54,669
43,778
16,628
118,000
280,500
Rye,
bush.
43,350
5,651
Barley,
bush.
32,200
985
4,000
1,426
4,459
830
127,224
Indian corn has been irregular at times, showing more or
12,000
117,000
11,994
less depression. It has responded, on the whole, surprisingly
15,373
60,746 22,031
little to the pyrotechnics in wheat. The Liverpool market
215,974
25,252
has shown little life, and at times has declined. The receipts
Total week
339,317 1,104,954 1,092,167
592,523 101,710 38,474
at the West have been heavy, despite wet weather and reports Week 1908
323,113 1,230,668 2,548,517
549,296 65,995 128,741
of bad roads. Chicago, however, has had a good Eastern Since Jan. 1 1909_2,040,594 8,786,253 8,706,018 5,064,986 766,898 99,452
demand, and its large receipts have not been much felt. Since Jan. 1 1908_2,411,259 10,290,952 15,840,109 4,481,800 801,831 747,886
* Receipts do not include grain passing through New Orleans for foreign ports on
Yet at times the arrivals at primary points have been more
than double those of the same day last year. For example, through bills of lading
The exports from the several seaboard ports for the week
on Wednesday there were 1,294,000 bushels, against 503,000
on the same day in 1908. Such receipts have latterly had ending Feb. 20 1908 are shown in the annexed statement:
Oats,
Wheat,
Rye, Barley, Peas,
Corn, Flour,
little effect, owing to an increased demand from both shorts
bush,
bush,
bbls.
Exports frombush.
bush.
bush.
bush.
and commission houses, even though colder weather has New York
15.561
2,877
361,974 179,157 42,417
11,681
33,779 18.340
366,458
been predicted for the West, which would naturally tend to Portland, Me
1,200 12,314 25,000
59,119 22,179
106,883
Boston
keep up the crop move ent. Partly in sympathy with ris- Philadelphia
____ 93,116 232,549 51,527
17,143
182,768 11,957
ing prices for wheat and partly owing to some general buy- Baltimore
60
Orleans ____
7,895 312,244 9,477
ing, prices of late have advanced moderately. To-day prices New
1,071
Newport News___
5,867
moved upward in company with wheat. May showed an Galveston
700
Mobile
11,994
advance at Chicago of 7 cents from the recent low point. Norfolk
2,499
127,224
26,252
40,321
3 to lc. Shorts covered freely St. John, N. B.._ 215,974
Cash prices there advanced 4
as the bear side had become congested.
16,821 29,457 50,252 14,557
Total week____1,152,300 1,138,834 206,355
NEW YORK.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN
Sat. Mon. Tues. Wed. Thurs. Fri.
74
74
74
Cash corn
74
7434
72% Holi- 72% 73
May delivery in elevator
73% 73%
July delivery in elevator
7234 day. 7234 7234 7234 733-4
DAILY CLOSING PRICES OF CORN FUTURES IN
Sat, Mon. Tues. Wed. Thurs. Frt.
May delivery in elevator
6534 6534 66
6534
6634
.Tuly delivery in elevator
647-4 Holt- 6434 65 51 65%65 13-16
649/
i day. 6434 6534 6534 6534
September delivery in elevator
CHICAGO
Week 1908
1,361,588 1,919,172 232,890
19,042 124,133 28,630
1,261
The destination of these exports for the week and since
.July 1 1908 is as below:
Wheat
Flour
Since
Since
July I
Week
July 1
Week
1908.
1908. Feb. 20.
Exports for week and Feb. 20.
bush.
bush.
bbls.
bbls.
since July 1 to-United Kingdom___100,121 3,873,228 632,978 45,353,016
29,204 1,731,881 512,056 42,786,971
Continent
3,618
246,542
So. & Cent. Amer.._ 9,909 433,872
3,648
4,098
36,506 965,075
West Indies
61,385
464
Cols_
Am.
Brit. No.
59,485
30,151 221,609
Other Countries
Since
Week
July 1
Feb. 20.
1908.
bush.
bush.
467,747 11,112,033
626,626 8,732,420
"204
25,323
44,257
788,802
8,900
19,402
Oats have at times weakened in value as the receipts
have been large and the demand slack. Even many who
have been disposed to buy have held aloof, awaiting some
decrease in the crop movement. The prospects point to an
206,355 7,287,030 1,152,300 88,450,112 1,138,834 20,686,880
Total
232,890 7,932,591 1,361,588 88,639,044 1,919,172 35,546,356
increase in Chicago stocks unless the receipts let up. The Total 1907-08
supply there, however, is only about half as large as that of
The world's shipments of wheat and corn for the week
a year ago. Argentine oats have sold at 53c., c.i.f. New ending Feb. 20 1909 and since July 1 in 1908-09 and 1907York, duty paid, for shipment the first half of March, but 08 are shown in the following:
of late they have been quoted here at 55c. in transit and
Wheat.
Corn.
. New York. Latterly com10 days shipment c.i.f.
54
mission houses and cash interests have been buying some1007-08.
1908-09.
1908 09.
Exports.
1907-08.
what more freely, while interior offerings of the West, it is
Week
Since
Since
Since
Since
Week
said, are somewhat smaller, and prices have been stronger
Feb. 20.
July 1.
July 1.
July 1.
July 1,
Feb. 20.
at some advance. To-day they again advanced, but on the
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
rise there was heavy selling by large interests. Interior North Amer. 2,181,000
132,817,700 136,208,000 1,094,000 20,301,400 32,830,000
commission houses were good buyers.
Russian -- 808,000 44,600,000 53,112,000 374,000 10,738,500 16,552,000
DAILY CLOSING PRICES OF
Sat.
58-60
No. 2 white
58-60
White clipped, 34 to 36 lbs
OATS
Mon.
58-60
58-60
NEW YORK.
IN
Tues. Wed. Thurs. Fri.
58-60 59-60 59-60 603-4-61
58-60 58-60 58-60 58-60
CHICAGO.
DAILY CLOSING PRICES OF OATS FUTURES IN
Sat. Mon. Tues. Wed. Thurs. Fri.
May delivery in elevator
54 %
5434 54 34 54 % 55 1-16
July delivery in elevator
4934 Holl- 4934 4934 499449 15-16
September delivery In elevator
4034 day. 40 4034 404 40%
The following are closing quotations:
FLOUR.
Winter, low grades_ ___33 75@$4 35 Kansas straights
Winter patents
5 SO® 5 7Z Blended clears
Winter straight
5 251 5 50 City patents
Winter clear
4 75 Rye flour
4 50
Spring patent
8 15 Buckwheat flour
5 70
__ _ _ Graham flour
Spring straights
Kansas clears
Corn meal sacks
@
Danubian .._ 288,000
Argentina __ 6,320,000
Australian_
0th. countr's 1,408,000
27,976,000 21,248,000
57,659,000 40,000,000
17,088,000 8,720,000
14,482,000 19,568,000
229,000 17,383,500 33,272,000
43,374,500 36,008,000
Total ____ 11005000 294,622,700 278,856,000 1,697,000 91,797,900 118,662,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Wheal.
$3 25@ 35 40
-_- @ 5 60
,
-8 501 6 80
4 00
4 50
2 10
2 35
@ __@ 3 15
United
Kingdom. Continent)
Corn.
Total..
Bushels. Bushels. I Bushels.
Feb. 20 1909_ 30,320,000 21,280,000 51.600,000
Feb. 13 1909._ 28,000,000 18,880,000 46,880,000
Feb. 22 1908.. 36,520,000 18,400,000 54,920,000
United
Kingdom. Continent.
Bushels,
3,145,000
3,655,000
3,520,000
Bushels.
2,295,000
2,380,000
4,200,000
Total.
Bushels.
5,440,000
6,035.000
7,720,000
577
THE CHRONICLE
FEB. 27 1909.1
Mexico
Central America
South America
Other countries
Total
,
404
WV. .0.1
1. e4 14.
clo eo
A00
cn 4, co
C W
4.
CA 13.4
Ca 14
43
196
28
69
22
100
13
84 .
4. .4 .4
5 .5 Ila
1,850
5,894
China1,253
India
1,129
Arabia
Africa
West Indies
W
14
4
,
.4
3,733
2,732
2,638
801
465
1,501
1,323
254
636
5,466
348
2,855
11
411
306
313
2,674
6,356
34
202
915
276
2,128
6,905
727
2,609
147
2,285
4,801
48,612
5,646
24,506
0
O
CD
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e.4 ea to 02 t,4
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(INV 6081
-1908
Since
Week. Jan. 1.
S9V0009I
C6O'ItV9Z
Great Britain
Other Europe
1909
Since
Week. Jan. 1.
00VLRE`TZ
New York to Feb. 20.
WITHDRAWALS THROWN UPON
eLVZEg'LZ
a
60`9LVZZ
1,
pala)tretv
The value of these New York exports since Jan. 1 has been
The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and $2,512,556 in 1909, against $1,616,026 in 1908.
Jobbers report that the demand for domestic cottons for
seaboard ports Feb. 20 1909, was as follows:
near-by
needs has been mostly of the hand-to-mouth order,
AMERICAN GRAIN STOCKS.
and they are experiencing considerable difficulty in securing
Barley,
Rye,
Wheat,
Corn,
Oats,
satisfactory deliveries of certain lines; roadmen are now
bush
bush.
bush.
bush.
bush.
342,000 being sent out by jobbing houses to solicit business from
83,000
New York
1,148,000
170,000
836,000
121,000 retailers on fall cottons. Drills and sheetings have continued
8,000
Boston
543,000
77,000
25,000
21,000
Philadelphia
81,000
132,000
80,000
3,000 steady but in rather light demand, most of the orders coming
Baltimore
123,000
272,000
458,000
201,000
from converters, while bleached cottons have also held
New Orleans
235,000
323,000
767,000
Galveston
122,000
320,000
195,000 steady, with little change in the character of the demand,
94,000
Buffalo
1,312,000
1,876,000
preference still being shown for the best-known tickets.
afloat
4,578.000
266,000
1,000 Staple prints have
17,000
Toledo
168,000
284,000
239,000
been in moderate request, but fine printed
"
afloat
70,000
1,000 goods, especially crinkled printed fabrics, have moved more
28,000
Detroit
115,000
377,000
263,000
65,000 1,010,000 freely. Ginghams have maintained their strong position,
Chicago
112,000
4,178,000
885,000
"
afloat
64,000
197,000 with the shortage of certain staples more pronounced and
31,000
Milwaukee
152,000
554,000
368,000
630,000 further complaints of slow deliveries of dress ginghams.
30,000
Duluth
1,197,000
7,207,000
290,000
842,000
112,000
Minneapolis
14,084,000
449,000 2,262,000
158,000 Some descriptions of colored cottons have continued in good
29,000
St. Louts
565,000
1,305,000
473,000
Kansas City
316,000
demand; other lines, including denims, have dragged some968,000
2,916,000
3,000
34,000
792,000
Peoria
140,000
4,000
what. In the export division South America has placed
127,000
Indianapolis
279,000
168,000
moderate orders, but trade with other miscellaneous ports
675,000 3,503,000 has been light and business
Total Feb. 20 1909._39,968,000 6,464,000 9,361,000
with China has failed to develop.
763,000 3,911,000
Total Feb. 13 1909,-41,472,000 6,565,000 9,607,000
Moderate-sized lots of print cloths and convertibles have
CANADIAN GRAIN STOCKS.
been sold, but quietness has generally prevailed; small sales
Barley. of 383'-inch, 64x60s are reported in Eastern markets at
Rye,
Oats,
Corn,
Wheat,
bush.
bush.
bush.
bush.
bush.
213,000
87,000 4 Mc. Regulars are still quoted at 3 7-16c., but standard
97,000
Montreal
38,000
wide goods are a shade easier at 4%c.
Fort William
2,407,000
Port Arthur
2,050,000
WOOLEN GOODS.-In the dress goods market demand
Fort William, afloat
291,000
for fall fabrics has been well maintained. Several leading
Other Canadian
1,977,000
lines of wide goods suitable for the cutting trade, as well as
87,000
213,000
27,000
Total Feb. 20 1909._ 6,763,000
86,000 staple worsteds, were opened, and initial orders are reported
217,000
28,000
Total Feb. 13 1909__ 6,491,000
as satisfactory, retailers taking the latter quite freely; there
SUMMARY.
is considerable talk of further advances on worsteds. The
Oats,
Barley,
Corn,
Rye,
Wheat,
bush,
bush.
bush. largest producers of dress goods are now well under order.
bush.
bush.
675,000 3,503,000 Men's-wear lines have been less active as most of the initial
39,968,000 6,464,000 9,361,000
American
213,000
87,000 orders from clothiers on worsteds and woolens have been
6,763,000
27,000
Canadian
675,000 3,590,000 placed. It is stated that the American Woolen Co. has sold
Total Feb. 20 1909._46,731,000 6,491,000 9,574,000
763,000 3,997,000 a larger yardage of men's wear fabrics for fall than ever
Total Feb. 13 1909._47,963,000 6,593,000 9,824,000
818,000 4,856,000
Total Feb. 22 1908..44,470,000 9,055,000 8,894,000
demand for such goods,
Total Feb. 23 1907_ A3,513,000 9,867,000 11,451,000 1,602,000 2,479,000 before, and that,owing to the heavy
Total Feb. 24 I906__46,902,000 15,557,000 25,083,000 2,271,000 4,330,000 the company has been unable to devote as many looms to
Total Feb. 25 1905__36,528,000 8,524,000 16,721,000 1,687,000 4,679,000 dress goods as it otherwise would have done.
FOREIGN DRY GOODS.-Imported dress goods, silks
and cotton dress fabrics have been in active request for
THE DRY GOODS TRADE.
spring and summer needs, and there is muoh complaint of
delayed deliveries. Fine yarn worsted dress goods and
New York, Feb. 26 1909.
The market as a whole has been less active during the broadcloths have been taken freely. General conditions
past week. In cotton goods the primary market has ruled in the linen market remain unchanged, except that the decomparatively quiet; demand has been confined largely to mand and shortage have, if anything, increased. Burlaps
fall goods, although, as for some time past, stocks available have ruled firm with fair business; 103' -ounce remain unfor near-by delivery have continued in steady request. changed at 4.65c. and light-weights at 3.70e. for small lots.
Selling agents, however, are not disturbed by the present Importations and Warehouse Withdrawals of Dry Goods.
lull, as they have already booked firm orders for a substantial
The importations and warehouse withdrawals of dry goods
amount of goods in the aggregate, and the fact that mer- at this port for the week ending Feb. 20 1909 and since
chants' stocks are not large presages a continued steady Jan. 1 1909, and for the corresponding periods of last year,
demand from such interests. With second-hands trade has are as follows:
also been of moderate proportions. Many retailers have
tv
4
been in the market, but have operated more conservatively,
5
▪
*.licnc)E1
.3
cA
fs
°
F..3
gM. =0
the demand, especially for domestics, being largely for
ii'c7V+0
R,
ce
°c18
i7
filling-in purposes, although some further orders were placed
O
0
a
for dress goods, wash goods, silks, &c., for fall. The proz
8
nounced unsettlement in leading outside markets naturally
:11
had a sympathetic effect upon various branches of the dry
goods trade and to some extent explains the greater conservatism shown by buyers, as well as the disinclination of
sellers to force advances; on the other hand, buyers have invariably been willing to pay top prices for satisfactory deX
liveries, or even slightly higher figures to get earlier ship04
ments. The tariff agitation has also been more unsettling
-13
on
▪ C4 CO 0 en
▪
4. CA CA ti C.4
and served to restrict trading, but sellers contend that dealers 19
• Ce
0 OD
0 CA .4
and others should not be so worried over the forthcoming
ea
4.
revision, since ample time will undoubtedly be given to reCOO
00 '4
19
19 CI
.4
OD .
adjust values before the new schedules take effect. A noteCo 04
a"4
0
00
worthy feature of the week was the semi-annual report of
▪ 14
00-1
00 0
0 0019
00 13
00
the Associated Merchants' Co., which was favorably received ca CA
and taken as a fair indication of the gradual, though sub.4
19
404.
OD (4..N
19
04
ts.
stantial, progress made by retailers since the panic. A 59
19 00
00
N0
▪ 14
CR to
.
..11
.4
0.3.
O
OUOC.1901 000
▪.
00 .
00
'
CA
development that attracted much attention was the meeting 03 '
c000t. Z2
.41919
▪ CA
C
▪
0)0 13
.4 00
CA .ot
019
.t
.
40.4N
IV
cm
co
19
C.
OD
010
,ONC.
the
Southern
of
Hard Yarn Spinners' Association, at which
a committee was appointed to formulate a plan of curtail19
n,
N0
ment; it is generally believed that some curtailment of output
19
14
1417,0
14 0
.00.1400
,
10
UMN,Ne*
-40
decided
upon, hut to what extent is as yet uncertain.
will be
0,1
vio .40000
export
trade
O 19
The
generally has been quiet. Activity in fall
00 -4
0 C• A CD CA Co
co ea
OD
yo.4.N
00 0 CO Co
dress goods has been fairly well maintained, but men's wear
ruled
lines have
comparatively quiet.
191
,
3
00'
WO
e0
00
Cl
C
DOMESTIC COTTON GOODS.-The exports of cotton
0 09 14 I. 14
0019C4:-.19
0001's 14-3
CO "
*
co '
a'0'3
cso •
1440,,s.0)00)s
OD Co 00 Co 0
CA
cn CO CO
CO
00
oom
moopa,, o7
00
OD
CO
CD 4. CA
CO
goods from this port for the week ending Feb. 20 were 4,801 0
packages, valued at $276,971, their destination being to the 1919
W
N •
13
points specified in the tables below:
0 .OD
..
ea
NW
.00
AO OD 4. 000
-404
,00
0 ON
578
THE CHRONICLE
[VOL. Lxxxviii.
Allentown, Pa.—Bonds Defeated.—On Feb. 16 the voters
defeated the proposition to issue the $400,000 4% 5-30-year
(optional) sewer bonds mentioned in V. 88, p. 320. The
vote was 2,401 "for" to 5,053 "against."
News Items.
Altoona, Blair County, Pa.—Bonds Voted.—An election
Council Bluffs, Iowa.—Litigation.—We are advised that
Feb. 16 resulted in favor of a proposition to issue $300,the temporary injunction issued on Jan. 5 by the United held 4%
30-year water bonds. The vote was 5,000 "for"
States Circuit Court (V. 88, P. 171), restraining the issuance 000
"against."
of the $600,000 bonds voted last October for the construc- to 1,000
Amelia School District (P. 0. Amelia), Clermont County,
tion or purchase of a municipal water-works system, is still
in effect. By mutual agreement of plaintiff and defendant, Ohio.—Bond Offering.—Proposals will be received until 7
J. J. Furgeson, Court Reporter, has been appointed by the p. m. March 2 by the Board of Education, E. D. Marshall,
Court to take evidence by deposition. Our informant adds Clerk, for $3,500 43/2% coupon school-building bonds.
that, as the evidence to be taken in this manner is volum- Authority Sections 3991-3992-3993 of the Ohio School Laws.
inous, "an early action on this case cannot be reasonably Denominations: $200, $100 and $50. Date June 1909.
Interest semi-annually in Amelia. Maturity $350 yearly
hoped for.
Lynchburg, Va.—Land Used by City for Water-Works in June from 1910 to 1919 inclusive. Bonds are exempt from
Purposes Exempted from Taxation by Decision of Circuit Court. State and local taxation. Bonded debt this issue. Assessed
—The City Attorney, N. C. Manson Jr., writes us as follows valuation, $220,160.
Arapahoe, Furnas County, Neb.—Bonds Voted and Deconcerning the decision of the Circuit Court exempting from
taxation a piece of land used by the city in connection with feated.—The question of issuing the $6,000 light and $24,000
water bonds mentioned in V. 87, p. 1558, was recently
its water-,yvorks:
submitted to the voters. The former issue carried while
Lynchburg, Va., Feb. 17 1909.
Our City Auditor has handed me your letter of Feb. 15.
the latter was defeated.
The proceeding mentioned by you was one by the City of Lynchburg
to exonerate from taxation real estate owned by the City of Lynchburg
Ashland, Jackson County, Ore.—Bond Sale.—During the
in connection with its water system. The city obtains its supply of water month
of December the two issues of 43% electric-light
by gravity through a 30-inch pipe some 21 miles long, conveying water
from Pedlar River, in Amherst, to the city reservoirs. In order to estab- bonds, aggregating $77,500, offered on Nov. 20 1908, were
lish this system, the city had acquired 1,292 acres of land in the county of awarded to Morris Bros. of Portland at a "slight discount."
Amherst, which the county sought to tax. The city submitted a motion
to exonerate the land on the ground that it was used by the city for its pur- See V. 87, p. 1372, for a description of these securities.
poses and was therefore exempt by the provisions of our State constitution,
Atlanta, Class County, Tex.—Bond Election.—An election
Section 183. The Circuit Court sustained the position of the city, and entered an order exonerating the property from taxation. No written opinion will be held April 6, it is stated, to determine whether or
was delivered. The county may appeal from the decision, but that matter
not $15,000 water-works bonds shall be issued.
has not yet been finally determined,.
Atlantic Highlands,'Monmouth County, N. J.—Bonds DeTexas.—Drainage Law Amended.—The Governor on Feb.
19 signed the bill passed by the Legislature providing for feated.—The $4,000 57 borough-hall bonds mentioned in
the various amendments to the law relating to the incorpora- V. 88, p. 393, were defeated by a vote of 34 "for" to 79
tion of drainage districts. As stated in V. 88, p. 319, the "against" at the election held Feb. 15.
Attorney-General announced on Jan. 14 that he would not
Auburn School District (P. 0. Auburn), Placer County,
approve any further issues of drainage bonds until action Cal.—Bond Election.—We see it reported that a proposition
had been taken by the Legislature on these amendments.
to issue $50,000 40-year school bonds, in $1,250 denominations, will be submitted to a vote of the people on March 4.
Barberton School District, Ohio.—Bond Offering.—ProBond Calls and Redemptions.
posals will be received until 1 p. in. March 15 by H. B. Frase,
Galveston, Tex.—Bond Call.—Interest will cease on March Clerk of Board of Education for $16,000 41A% coupon
31 on "Galveston 40-year limited debt bonds" Nos. 979 to school-building bonds. Authority, Section 3991, Ohio
1,003 inclusive, issued in 1883. • They are in $1,000 denomi- School Laws, and election held Feb. 8. Denomination $500.
Date March 15 1909. Interest semi-annually at the office
nations and are dated Jan. 1 1883. The holders of the afore_ of
the Treasurer of the School Board. Maturity on Sept. 1
mentioned bonds have the option of receiving cash for them as follows: $500 yearly from 1910 to 1917 inclusive and.
or exchanging their holdings for new 432% 20-40-year $1,000 yearly from 1918 to 1929 inclusive. Bonds are exempt from taxation. Successful bidder to pay accrued in(optional) grading, filling and draining bonds.
accompanied by
The official notice of this bond call will be found among the terest. Bid must be unconditional andClerk of the Board
a certified check for $800, payable to the
advertisements elsewhere in this Department.
of Education. Purchaser to furnish blank bonds free of
Denver, Colo.—Bond Call.—The following bonds are charge.
called for payment Feb. 28
Bartholomew County (P. 0. Columbus), Ind.—Bond Sale.
—J. F. Wild Sc Co. of Indianapolis have been awarded
SANITARY SEWER BONDS.
Highlands Sanitary Sewer Dist. No. 6, Bond No. 9.
$7,360 4% Haw Creek Township highway-building bonds
South Capitol Hill Special Sanitary Sewer Dist., Bond No. 10.
at par. Date Oct. 5 1908. Maturity part yearly from
SIDEWALK BONDS.
one to ten years.
Sidewalk Dist. No. 10, Bond No. 48.
Barton Heights, Henrico County, Va.—Bonds Voted.—
South Broadway Sidewalk Dist. No. 1, Bond No. 55.
A vote of 113 'for" to 1 "against' the proposition to issue
IMPROVEMENT BONDS.
the $15,000 6% 30-year coupon water and sewer system
Capitol Hill improvement Dist. No. 1, Bond No. 155.
East Denver Improvement Dist. No. 2, Bonds Nos. 1 to 5 inclusive.
completion bonds mentioned in V. 88, p. 320, was the result
Highlands Improvement Dist. No. 1, Bond No. 32.
of the election held Feb. 23.
Mount View Improvement Dist. No. 1, Bonds Nos. 37 and 38.
Sherman Street Improvement Dist. No. 1, Bonds Nos. 1 to 9 inclusive.
Basin, Bighorn County, Wyo.—Bond Offering.—Proposals
South Broadway Improvement Dist. No. 2, Bonds Nos. 40 and 41.
will be received until 6:30 p. m. March 1 by M. 0. Barnes,
South Side Improvement Dist. No. 1, B3nds Nos. 1 to 31 inclusive.
Improvement
Dist. No. 1, Bonds Nos. 15 to 82 inclusive.
West Denver
Mayor, for $10,000 6% sewer bonds. Denomination $500.
Date April 1 1909. Interest annually in New York City.
PAVING BONDS.
Alley Paving Dist. No. 3, Bond No. 19.
Maturity twenty years, subject to call after ten years.
Alley Paving Dist. No. 4, Bond No. 19.
Certified check for $500, payable to the Town Treasurer, is
Alley Paving Dist. No. 5, Bonds Nos. 14 and 15.
required.
Champa St. Paving Dist. No. 1, Bonds Nos. 72 and 73.
Fifteenth St. Paving Dist. No. 2, Bonds Nos. 2 to 9 inclusive.
Beaver, Beaver County, Pa.—Bond Election Proposed.—
Wazee St. Paving Dist. No. 1, Bonds Nos. 1 to 5 inclusive.
We are informed under date of Feb. 3 that an election will
SURFACING BONDS.
be held in the near future to vote on the question of issuing
Surfacing Dist. No. 3, Bond No. 37.
Schuyler County (P. 0. Lancaster), Mo.—Bond Call.— $15,000 building bonds.
Bee County (P. 0. Beeville), Texas.—Bonds Registered.—
The following 5% refunding bonds dated Sept. 1 1892 have
been called for payment March 1: bond No. 90 for $1,000 The State Comptroller registered $1,300 4% 5-40-year
(optional) bridge-repair bonds on Feb. 11.
and bonds Nos. 161 to 180 inclusive for $500 each.
Bethlehem, Northampton County, Pa.—Bonds Voted.—
The election held Feb. 16 resulted in favor of the proposition
Bond Proposals and Negotiations this week to issue the $175,000 water-works construction bonds mentioned in V. 88, p. 245. The vote was 1,425 "for" to 960
save bean as follows:
Akron, Ohio.—Bonds Authorized.—Reports state that the "against." Interest not to exceed 4%. Maturity thirty
Council on Feb. 15 passed an ordinance providing for the years.
Bigheart School District (P. 0. Bigheart), Osage County,
issuance of $15,000 improvement bonds.
Albany County (P. 0. Albany), N. Y.—Bonds Not to Be Okla.—Bond Sale.—We are advised that this district has
Issued at Present.—The County Treasurer informs us that disposed of an issue of school-building bonds recently voted.
the $500,000 highway construction bonds voted on Jan. 12
Binghamton, Broome County, N y.—Bond Sale.—The
(V.88, p. 171)till not he placed on the market for some time. successful and only bid received on Feb. 24 for the $8,000
Algoa Drainage District, Galveston County, Tex.—Bonds 4% registered South Side Park bonds described in V. •88,
Authorized.—We see it reported that the issuance of $116,- p. 518, was one of par and accrued interest submitted by the
Binghamton Savings Bank of Binghamton. Maturity
000 bonds has been authorized.
Allegheny County (P. 0. Pittsburgh), Pa.—Bonds Pro- August 1 1912.
posed.—The County Comptroller and County Commissioners
Binghamton (P. 0. Station 0, Memphis), Tenn.—Bonds
propose to issue $400,000 bonds to erect new buildings at the Voted.—The election held Feb. 11 resulted in a vote of 109
county home.
'for" to 29 "against" the proposition to issue, for the con-
STATE ;110 CITY litrAfITIVIENT,
FEB. 27 1909.)
THE CHRONICLE
579
Cleveland, Bradley County, Tenn.-Bond Election.-Nashstruction of sewers and drains and the erection of an
that an election has been called for March
electric-light and water-works-system plant, the $25,000 vine papers state
20 to vote on a proposition to issue $60,000 5% bonds for
bonds mentioned in V. 88, p. 245.
the purchase of the water-works plant. Maturity from five
Birmingham, Ala.-Bonds Authorized.-Reports state to thirty-five years.
$350,000
of
issuance
the
has
authorized
that the City Council
Clinton County (P. 0. Frankfort), Ind.-Bond Sale.school bonds.
An
issue of $3,520 43% Jackson Township highway-con-An
Sale.
Boone County (P. 0. Lebanon), Ind.-Bond
bonds has been disposed of. J. F. Wild & Co. of
struction
-building
issue of $5,760 432% Eagle Township highway
s, offering par, were the successful bidders.
Indianapoli
Indianof
bonds was recently purchased by J. F. Wild & Co.
5 1908. Maturity part yearly from one to ten
Nov.
Date
yearly
apolis at par. Date Jan. 5 1909. Maturity part
years.
from one to ten years inclusive.
Clinton County (P. 0. Plattsburg), N. Y.-Bond Sale.Bridgeton, Cumberland County, N. J.-Bond Offering.- The $30,000 4% 1-15-year (serial) coupon bonds described
Barton
by
2
March
m.
p.
8
until
be
will
received
Proposals
in V. 88, p. 518, were sold on Feb. 25 to Kountze Bros. of
F. Sharp, City Comptroller, for $35,000 4% coupon or New York City at 100.41.
1
Feb.
Date
$500.
on
Denominati
bonds.
funding
registered
Clio, Marlboro County, S. 0.-Bond Election.-An election
1909. Interest semi-annually at the office of the City
be held about March 20, we are informed, for the purwill
after
call
to
subject
years,
thirty
Maturity
Treasurer.
of voting on the issuance of $5,000 6% 10-year railroadpose
New
in
taxation
from
exempt
Bonds
are
years.
fifteen
aid
bonds.
payable
for,
bid
bonds
of
for
1%
check
Certified
Jersey.
Coal Grove, Lawrence County, Ohio.-Bonds Defeated.to the City Treasurer, is required. Delivery March 10
It is stated that a proposition to issue $25,000 water-works1909. Purchaser to pay accrued interest.
bonds was defeated at an election held
Bridgeville, Warren County, N. J.-Bond Election.-An system-construction
election will be held March 16 to vote on the question of Feb. 13.
College Hill (P. 0. Beaver), Pa.-Bonds Voted.-An elecissuing $23,000 street-improvement bonds.
held Feb. 16 resulted in favor of a proposition to issue
tion
Offering.
-Bond
Minn.
New„Ulm),
0.
(P.
Brown County
light-plant bonds. The vote was 134 "for" to 108
$15,000
the
by
9
March
m.
a.
10
until
received
Proposals will be
G.
"against."
Louis
of
office
the
at
rs
Commissione
Board of County
n
Columbia School District (P.0. Columbia), Boone County,
Vogel, County Auditor, for $65,000 6% ditch-constructio
Chapter Mo.-Bonds Voted.-An issue of $97,500 building bonds was
bonds. Authority Chapter 230, Laws of 1905, and
Date July 1 authorized at an election held February 23.
367, Laws of 1907. Denomination $13,000.
Columbus, Ohio.-Bonds Authorized.-Ordinances have
1909. Interest semi-annually in New Ulm. Maturity
Bonds
$13,000 yearly on July 1 from 1914 to 1918 inclusive. Bonded been passed providing for the issuance of the following coupon
are exempt from taxation. Delivery May 11909.
improvement assessment bonds:
debt at present, $21,403 35. Assessed valuation 1908, $8,000 43% Brehl Ave. bonds. Maturity Sept. 1 1920. subject to call
after Sept. 1 1909.
$8,283,787.
10,000 431% Third Ave. bonds. Maturity March 1 1921.
Buchanan County (P. 0. St. Joseph), Mo.-Bonds Voted.- 4,000 434% Young St. bonds. Maturity Sept. 1 1920, subject to call
Sept. 1 1909.
By a vote of 5,558 to 2,430 the issuance of the $100,000 4% 5,000 434% after
Wood Ave. bonds. Maturity Sept. 1 1920, subject to call
after Sept. 1 1909.
jail-construction bonds mentioned in V. 88, p. 245, was
431% Burgess Ave. bonds. Maturity Sept. 1 1920.
authorized at. the election held Jan. 26. Maturity 1919. 10,000
Highland St. bonds. Maturity March 1 1921, subject to call
4,000 4%
after March 1 1910.
Buncombe County (P. 0.Asheville),N.0.-Bond OThrinq.
St. bonds. Maturity March 1 1921.
Cherry
10,000
431%
-Proposals will be received until 11 a. m. March 8 by J. E. 1,000 434% Miami Ave.
bonds. Maturity March 1 1915, subject to call
after March 1 1910.
Rankin, Chairman Board of County Commissioners, or
Maturity March 1 1921, subject to call
bonds.
Ave.
Hill
4%
3% coupon 2,500
/
R. J. Stokely, County Auditor, for $125,000 41
after March 1 1910.
funding bonds. Denomination $1,000. Date March 1 1909. 4,000 434% Duncan St. bonds. Maturity March 1 1921. subject to call
March 1 1910.
Interest semi-annually at the National Park Bank in New 5,000 434% after
Oregon Ave. bonds. Maturity March 1 1921, subject to call
after March 11910.
York City. Maturity March 1 1939. Certified check for
Maturity March 1 1921, subject to call
7.000434% East Ave. bonds
% of bid is required.
after March 1 1910.
Maturity
March 1 1921, subject to call
--Returns
bonds.
St.
Defeated.
Fifth
4%
5,000
--Bonds
Pa.
Butler, Butler County,
after March 1 1910.
indicate that the election held Feb. 16 resulted in the defeat 7,000 4% Pearl St. bonds. Maturity March 1 1921. subject to call after
March 1 1910.
of a proposition to issue $50,000 bonds to erect a municipal
Columbus St. bonds. Maturity March 1 1921.
10,000 4%
building.
2,000 434% sewer-construction bonds. Maturity March 1 1915, subject
call after March 1 1910.
Carbon County School District No. 34, Mont.-Bond Sale. 2,000 4% to
Gustavus Lane bonds. Maturity March 1 1921, subject to
call after March 1 1910.
-Daring the month of January $700 6% 10-20-year (op500 434% sewer-construction bonds. Maturity March 1 1915, subject
tional) building bonds were awarded to the State of Montana
to call after March 1 1910.
2,000 434% Haviland Ave. bonds. Maturity March 1 1912, subject to
at par. Date Jan. 1 1909.
call after March 1 1910.
the
that
stated
is
--It
Voted.
bonds. Maturity March 1 1915, subCass Lake, Minn.-Bonds
2,000 434% sewer-construction
ject to call after March 1 1910.
issuance of $26,000 4% funding bonds was authorized by a
Street bonds. Maturity March 1 1921, sub
Twenty-second
4%
3,000
further
is
It
10.
Feb.
held
vote of 156 to 43 at an election
ject to call after March 1 1910.
Street bonds. Maturity March 1 1922, subject
reported that these securities will be bought by the State of 4,000 4% Walnut
to call after March 1 1910.
Minnesota.
2,000 4% McAllister Avenue bonds. Maturity March 1 1922, subject
call after March 1 1910.
Chambers Creek Valley Drainage District No. 1 (P. 0. 5,000 4% to
Delaware Avenue bonds. Maturity March 1 1922, subject
Waxahachie), Texas.-Bonds Voted.-The election held Jan.
to call after March 1 1910.
500 434% Mitchell Street sewer bonds. Maturity March 1 1915
30 (V. 88, p. 3211) resulted in a unanimous vote for the
subject to call March 1 1910.
$40,000 5% 40-year bonds for the drainage of cotton lands. 4,000 4 A% sewer bonds. Maturity March 1 1915, subject to call March
1 1910.
The above bonds will be offered for sale about March 15.
2,000 43-4% Midland Ave. sewer bonds. Maturity March 1 1915, subject
to call March 1 1910.
Chambersburg, Franklin County, Pa.-Bonds Voted.bonds. Maturity March 1 1915, subject to call after
A proposition to issue $60,000 high-school building bonds was 2,000 434% sewer
March 1 1910.
favorably voted upon,it is stated, at an election held Feb. 16.
Interest March 1 and Sept. 1 at the City Treasurer's office.
Chandler, Lincoln County, Okla.-Bond Election.-This
In addition to the above the City Council has also passed
city will vote March 9 on the:question of issuing $25,000 5% an ordinance providing for the issuance of the following
25-year sewer bonds.
coupon bonds:
Charleston, So. Oar.-Bond Election Proposed.-Petitions $75,000 4% refunding water-works bonds. Denomination $1.000. Date
Dec. 1 1908. Maturity Dec. 1 1938. Interest Is payable at
are being circulated throughout this city requesting the
the agency of Columbus in New York City.
City Council to call an election to vote on the question of
On Dec. 21 1908 the City Council also passed an ordinance
issuing bonds for a sewerage system. It is estimated that
providing for the issuance of a $1,500 4'70 coupon Edward
this system will cost from about $250,000 to $300,000.
bond. Date not later than April 1 1909
Charlotte, Mecklenburg County, No. Caro.-Bond Offer- Street widening
April 1 and October 1 at the City Treasurer's office.
Interest
ing.-Proposals will be received until 12 m. March 10 by Maturity April 1 1919.
F. S. Franklin, Mayor, for the $100,000 43-% coupon
Corsicana, Navarro County, Texas.-Bonds Registered.funding bonds mentioned in V. 88, p. 321.. Denomination The State Comptroller on Feb. 9 registered $15,000 4%
$1,000. Date March 15 1909. Interest semi-annually in 15-40-year (optionalY school-house bonds.
New York City, Maturity thirty years. Certified check
Coshocton County (P. 0. Coshocton), Ohio.-Bond Offerfor $1,000, payable to the City Treasurer, is required. A. H. ing.-Proposals will be received until 12 m. March 5 by
C. R.-Randles, County Auditor, for the following 43%
Wearn is City Treasurer.
bridge bonds:
among
found
be
will
bond
offering
this
of
The official notice
$183,000 Main Street bridge-construction bonds. Maturity $9,000 on
Sept. 1 1909 and $3,000 each six months from March 1 1910 to
the advertisements elsewhere in this Department.
Sept. 1 1938 inclusive.
Oherryvale School District (P. 0. Oherryvale), Mont- 142,000 Twelfth Street bridge-construction bonds. Maturity $2,000 on
be
will
election
Sept. 1 1909 and $2,500 each six months from March 1 1910 to
-An
Election.
-Bond
gomery County, Kan.
Sept. 1 1937 inclusive.
held March 2 for the purpose of voting on the question of
. Authority Section 2825 Revised Statutes. Denomination
issuing $35,000 5% high-school-building bonds.
Date March 15 1909. Interest semi-annually at
$500.
Feb.
-On
Sale.
Y.
-Bond
N.
County,
Clayton, Jefferson
of the County Treasurer. Certified check on a bank
ice
the
of
$18,000
the
bought
Clayton
of
Bank
20 the First National
for $1,000, payable to C. R. Randles, County
in
Cochocton
desbonds
ing
bridge-build
1-18-year (serial) registered
Purchaser to pay accrued interest.
is
required.
Auditor,
4s.
for
par
at
518,
scribed in V. 88, p.
580
THE CHRONICLE
7Coshocton School District (P. 0. Coshocton), Coshocton
Flathead County (P. 0. Kalispell), Mont.-Bond Offering.
County, Ohio.-Bonds Defeated.-The election held Feb. 2 -Proposals will be received until March 1 (to be opened 10
resulted in the defeat of the proposition to issue the $65,000 a. m. March 4) by the County Commissioners and the High
43'% high-school-building and site-purchase bonds men- School Trustees at the office of C. T. Young, County Clerk,
tioned in V. 88, p. 321.
at Kalispell, for $25,000 bridge and $10,000 free high-school
Covington, Kenton County, Ky.-Bid.-We are informed coupon bonds at not exceeding 6% interest. Authority
that in addition to the successful bid of the Atlas National election held Nov. 3 1908. Denomination $1,000. Interest
Bank of Cincinnati an offer of $3,600 50 was also received Jan. 1 and July 1 at the office of the County Treasurer.
from Seasongood & Mayer of Cincinnati for the $3,484 19 Maturity twenty years,subject to call after ten years. Bonds
5 coupon St. Louis St. improvement bonds sold on Feb.15. are tax exempt. Certified check for 1% of bid, payable to
17'. 88, p. 518. The purchaser paid $3,641 34 (104.51) and R. W. Main, Chairman, is required.
accrued interest.
Florence, Lauderdale County, Ala.-Bond Offering.Covington School District (P. 0. Covington), Fountain Proposals will be received until 7 p. m. March 1 by A. E.
County, Ind.-Bond Election Postponed.-The election Walker, Mayor, for the $15,000 5% coupon funding bonds.
which was to have been held Feb. 16 to vote on the question Authority vote 269 "for" to 37 "against" at election held
of issuing the $19,500 432% 5-10-year school bonds (V. 88, Feb. 8 (V. 88, p. 322). Date March 1 1909. Interest semip. 46) was postponed indefinitely.
annual. Maturity twenty years. Certified check for $100
Cullman County (P.0. Cullman), Ala.-Bonds Defeated.- is required.
Fort Worth, Texas.-Bonds Registered.-The State CompAn election held Feb. 15 resulted in the defeat of a propositroller on Feb. 18 registered $50,000 school-building and
tion to issue $150,000 road bonds.
Cumberland County (P. 0. Crossville), Tenn.-Bond Elec- $100,000 street-improvement 43v .% 20-40-year (optional)
tion.-An election will be held to-day (Feb. 27) to determine bonds.
Fowler, Otero County,Colo.-Bonds Voted.-This town
the issuance of $25,000 5% Tennessee Northeastern Railroadhas voted to issue $15,000 6% gold coupon water-works
aid bonds.
Darke County (P. 0. Greenville), Ohio.-Bond Sale.-The bonds. Denomination $500. Date Jan. 1 1909. Interest
$10,000 5% bridge-construction bonds described in last semi-annually at the office of the Town Treasurer or in New
week's issue were sold on Feb. 25, it is stated, to the Second York City. Maturity Jan. 1 1924, subject to call after 1919.
National .Bank of Greenville at 102.10. Maturity on Feb. Bonds are exempt from taxation. Bonded debt at present
25 as follows: $3,000 in each of the years 1910 and 1911 and $4,500. Assessed valuation 1907 $150,000.
Franklin, Ky.-Bond Offering.-Proposals will be received
$4,000 in 1912.
Daviess County (P. 0. Washington), Ind.-Bond Sale.- until 11 a. m. March 1 by E. R. Biggs and P. E. Lewis, City
J. F. Wild & Co. of Indianapolis have bought $6,120 432% Committee, for $20,000 5% sewer-construction bonds
Elmore Township highway-construction bonds at par. mentioned in V. 87, p. 1373. Authority Section 3637,
Date Feb. 4 1908. Maturity part pearly from one to ten Article 3, of the Kentucky Statutes. Denomination $500.
Interest semi-annual. Bonds are redeemable as follows:
years.
Davenport, Iowa.-Bonds Authorized and Sold.-The City $1,000 yearly from one to five years inclusive; $2,000 yearly
Council recently passed an ordinance providing for the from six to eleven years inclusive, and $3,000 in the twelfth
issuance of $450,000 4% coupon funding bonds. Denom- year. Certified check for 5% of the bonds is required.
Glen Ridge, Essex County, N. J.-Bonds Voted.-The
ination $1,000. Date March 1 1909. Interest May 1 and
Nov. 1 at the office of Geo. M. Bechtel & Co. in Davenport. election held Feb. 24 resulted in a vote of 53 to 34 in favor
Maturity as follows: $108,000 on Nov. 1 1910, $8,000 yearly of the proposition to issue the $5,000 park bonds mentioned
on Nov. 1 from 1911 to 1914 inclusive, $10,000 yearly on in V. 88, p. 322.
Gloucester, Essex County, Mass.-Note Sale.-According
Nov. 1 from 1915 to 1919 inclusive, $20,000 yearly on Nov. 1
from 1920 to 1922 inclusive, $25,000 on Nov. 1 in each of to despatches, $100,000 notes maturing Feb. 24 1910 were
the years 1923 and 1924, $30,000 yearly on Nov. 1 from recently awarded to the City National Bank of Gloucester
1925 to 1928 inclusive and $30,000 on March 1 1929. Reports at 3.335% discount.
state that these bonds have been purchased by Geo. M.
Glouster, Athens County, Ohio.-Bond Offering.-ProBechtel & Co. of Davenport.
posals will be received until 12 in. March 1 by Reuben WagDenton, Denton County, Tex.-Bonds Registered.-The ner, Village Clerk, for $2,097 30 (village's portion) and
$12,500 5% 10-40-year (optional) sewerage bonds awarded $8,862 91 assessment 5% street-improvement bonds. The
on Jan. 1 to A. B. Leach & Co. of Chicago at 102 (V. 88, p. former issue is in denomination of $209 73, while the latter
246) were registered by the State Comptroller on Jan. 26. is in denomination of $886 29. Date March 1 1909. InterDepew School District (P.0.Depew), Creek County,Okla. est semi-annually at the Glouster Bank of Glouster. Ma-Bond Sale.-We are informed that this district has sold turity one bond of each issue yearly on March 1 from 1910 to
1919 inclusive. Bonds are tax-exempt. Certified check
$5,000 building bonds
5% of bonds bid for, payable to the Village Treasurer,
Des Moines County (P. 0. Burlington), Iowa.-Bonds for
is required. Purchaser to pay accrued interest.
to be issued Shortly.-The County Auditor informs us that
Graceville, Jackson County, Fla.-Bonds Defeated.-An
an issue of $117,000 bonds will be placed on the market
election held Feb.8 to vote on the question of issuing $12,000
about May 1.
Dinwiddie County (P. 0. Dinwithlie), Va.-Bonds Voted. electric-light bonds resulted in the defeat of the same.
Grand View, Spencer County, Ind.-Bond Offering.-Pro-The election held Feb. 3 resulted in favor of the propositions to issue the following road-improvement assessment posals will be received until 1 p. m. to-day (Feb. 27) by C P.
coubonds mentioned in V. 88, p. 322: $30,000 for the Namozine Balser,President of Board of Trustees, for $4,000
District $22,500 for the Rowanty District, $23,000 for the pon bonds issued to pay for 80 shares of stock of the GrandSapony District and $27,000 for the Darvills District. In- View Gas Company, subscribed for by the town, for the purterest not to exceed 6%. The vote was 533 "for to 128 pose of aiding in the erection of a light plant. Denomination $200. Date March 1 1909. Interest semi-annual.
"against.
Maturity $200 each six months from July 1 1910 to Jan. 1
Earlham, Madison County, Iowa.-Bond Offering.-Pro- 1920
inclusive.
posals will be received until 1 p. m. March 1 by W. S. ShepGraymont (P. 0. Birmingham), Ala.-Bonds Voted.-The
herd, Town Clerk, for $17,000 coupon water-works and election
held Feb. 15 resulted in favor of the propositions to
electric-light bonds. Denomination $500. Date May 1.
issue the $10,000 school and $10,000 sanitary sewer 5%
1909. Interest semi-annual. Maturity May 1 1929, sub- 20-year
bonds mentioned in V. 88, p. 462. The vote was
ject to call after May 1 1919. Certified check for $500,
payable to the Town Clerk, is required. Bonded debt, 50 'for" to 1 "against" on the school bonds and 48 "for"
1 "against" on the sewer bonds.
including this issue, $19,500. Assessed valuation $425,000. to Greenspring,
Seneca County, Ohio.-Bonds Defeated.Ector County Common School District No. 7, Texas.- The election held Jan. 23 resulted, it is stated, in a vote of
Bonds Registered.-The State Comptroller on Feb. 12 regis- 58 "for" to 114 "against" the proposition to issue the $16,000
tered $3,000 4% 20-year school-tiouse bonds.
water-works bonds mentioned in V. 88, p. 173.
Greenville, Darke County, Ohio.-Bond Sale.-The
Englewood, Arapahoe County, Colo.-Bond Sale.-The
$100,000 water-plant-construction bonds recently voted $75,000 4% coupon refunding water-works bonds described
have been sold.
in V. 88, p. 518, were bought on Feb. 23 by the Dayton
Eugene School District No.4(P.O.Eugene),Lane County, Savings & Trust Co. of Dayton for $77,300-the price thus
Ore.-Bond Sale.-E.H. Rollins & Sons of Denver purchased being 103.066. Maturity on Sept. 1 as follows: $2,000
$40,000 5% 10-20-year (optional) building bonds on Feb. 15 yearly from 1910 to 1919 inclusive; $3,000 yearly from 1920
for 841,625-the price thus being 104.062. Interest Jan. to 1929 inclusive and $5,000 yearly from 1930 to 1934
inclusive.
and July.
Hamilton County (P. 0. Noblesville), Ind.-Bond Sale.Excelsior Springs, Clay County, Mo.-Bond 0 ering.Proposals will be received until March 5 by Walter A. J. F. Wild & Co. of Indianapolis were recently awarded the
highway-building bonds at par: $3,400 of
Craven, City Clerk, for $10,000 5% coupon bridge and following 4
library bonds. Authority Section 6351 Revised Statutes Adams Township; $2,620 of Jackson Township and $12,880
of 1899. Denomination $100 and $1,000. Date about of Noblesville, Washington and Jackson Townships. The
March 15. Interest semi-annual. Maturity 10 to 20 years. bonds are dated Dec. 16 1908 and mature part yearly from
one to ten years inclusive.
Fergus County School District No. 55, Mont.-Bond Sale.
Harris County (P. 0. Houston), Tex.-Bond Sale.-An issue of $1,920 6% 5-year building bonds was disposed Reports state that $225,000 court-house bonds have been
of at par during the month of January to the State of Mon- bought by E. H. Rollins & Sons of Chicago at par and
tana. Securities are dated Oct. 25 1908.
$3,250 accrued interest.
as
FEB. 27 1909.1
THE CHRONICLE
581
Lenox, Dyer County, Tenn.-Bond Sale.-Reports state
Heber City, Wasatch County, Utah.-Bond Offering.Proposals will be received until March 1 by J. R. Price, City that $50,000 5% school bonds have been bought by the Bank
Treasurer, for $29,000 5% electric-light bonds voted at an of Commerce & Trust Co. of Memphis.
Lewiston Nez Perce County, Idaho-Bond Offering.election held Dec. 29 1908. Authority Chapter 24 of Laws
of 1907 and vote of 112 "for" to 8 "against" at election held Proposals will be received until 8 p.m. March 1 by Jno. E.
1909.
Nickerson, City Comptroller and ex-officio City Clerk, for
Dec. 29 1908. Denomination $1,000. Date May 1
Interest semi-annually at the Bank of Heber City. Maturity $22,000 5% gold coupon drainage-system bonds. Authority
circular
vote of 402 "for" to 59 "against" at election held Nov. 27
twenty years, subject to call after ten years. Official
states there has never been any default in the payment of 1908. Denomination $1,000. Date Jan. 1909. Interest
principal or interest; also that there is no litigation relative semi-annually at the office of the City Treasurer in Lewiston
to said bonds pending or threatened. Total debt, including or at the National Park Bank in New York City at option
of holder. Maturity twenty years, subject to call after
this issue, $45,000. Assessed valuation 1908, $566,442.
years. Bonds are exempt from taxation. Certified
Hendricks County (P. 0. Danville), Ind.-Bond Sale.- ten
check for $500 is required. Official circular states that
J. F. Wild & Co. of Indianapolis have bought the following previous issues
never been contested and that there
bonds at par: $12,175 of is no controversyhave
highway-construction
4
or litigation pending or threatened affecting
Washington Township and $9,995 of Center Township. the corporate existence
or the boundaries of the city or the
Securities are dated Sept. 5 1908 and mature part yearly titles of its present officials to their respective offices, or
from one to ten years.
the validity of these bonds.
Holdenville, Okla.-Bonds Voted.-Early returns indicate
Lockland (P. 0. Ind. Sta. R, Cincinnati), Hamilton
propositions
of
favor
that an election held Feb. 17 resulted in
County,Ohio.-Bond Offerings.--Proposals will be receiver
bonds.
to issue $135,000 public-improvement
until 12 m. March 1 by the Village Clerk, for $2,990 4 2%
Hospers, Sioux County,Iowa.-Bonds Voted.-The $7,000 Central Avenue improvement (village's portion) bonds.
6% water-works bonds mentioned in V. 88, p. 323, were Denomination $299. Date Dec. 1 1908. Interest annual.
Certified check for 5% of the bonds
authorized on Feb. 8 by a vote of 62 to 17. Maturity April 1 Maturity Dec. 1 1923.
bid for, payable to the Village Treasurer, is required. Pur1929. Bids for these bonds will be received until March 8.
chaser to pay accrued interest.
Indiana, Indiana County, Pa.-Bonds Voted.-On Feb. 161
In addition to the above, proposals will be received
this borough voted to issue $40,000 sewage-disposal-plant until 12 m., March 8, by the Village Clerk, for $1,980
and $10,000 street-paving bonds. We are informed that Wayne Avenue, $1,760 West Forrer Street and $1,060
they will be placed on the market about next June.
Stewart Avenue 5% assessment bonds. Date Feb. 1 1909.
Iowa City, Iowa.-Bonds Authorized.-The City Counci Interest annual. Maturity part of each issue yearly for
paving
of
issuance
46
$3,686
on Feb. 12 authorized the
ten years. Certified check for $50 is required with bids for
bonds.
each issue. Purchaser to pay accrued interest.
Jackson, Jackson County, Minn.-Description of Bonds.Ludington School District (P. 0. Ludington), Mason
We are advised that the $10,000 4% water bonds recently County, Mich.-Bonds Voted.-An election held Feb. 5
awarded to Minnesota State Board of Investment (V. 88, resulted in favor of a proposition to issue $14,000 4% schoolp. 462) mature in twenty years. Interest annual.
building bonds. The vote was 21 "for" to 1 "against."
Jackson County (P. 0. Independence), Mo.-Bonds to Be The bonds will be offered, we are informed,in April or May.
Offered Shortly.-There are reports in local papers that arMcCallsburg, Story County, Ia.-Bonds Defeated.-An
rangements have been made to offer $250,000 4% bonds for election held recently resulted, it is stated, in a vote of 21
home.
a new county
"for" to 67 "against" the issuance of $6,000 school-house
Jackson County (P. 0. Edna), Tex.-Bonds Registered.- bonds.
On Feb. 1 the State Comptroller registered $15,000 refunding
McCulloch County (P. 0. Brady), Tex.-Bond Election.and $8,000 bridge 4% 5-20-year (optional) bonds.
According to reports,the Commissioners' Court has ordered
Kadoka Independent School District (P. 0. Kadoka), an election to vote on the question of issuing $12,000 jailStanley County, S. D.-Bonds Voted.-An election held construction bonds.
Dec. 10 1908 resulted in favor of a proposition to issue $2,800
Madison County (P. 0. Morrisville), N.'Y.-Bond Sale.7% school-house bonds. The vote was 32 "for" to none On February 23 the $215,000 4% 113/
2-year (average)
"against." Maturity $200 yearly on Jan. 1 from 1911 to registered county-building bonds described in V. 88, p. 395,
inclusive.
1924
were awarded to the Oneida Savings Bank of Oneida at
Kaw Valley Drainage District, Wyandotte County, Kan. 101.384-a basis of about 3.85%. The bids were as follows:
Say. Bk., Onelda.$217,975 601Blodget,Merritt & Co.
Oneida
-Bond Offering.-Proposals will be received until 10 a. m. Dudley S. Harde, New
'
Mass
$218,212 05
218,118 00 W.J. Hayes & Son, Clev. 215,451 50
York
March 3 by W. H. Daniels, President Board of Drainage Farson, Son & Co.,
W. Mann, West Eaton,
N. Y. ($3,000 bonds)_
3,150 00
217,107 00
York
Commissioners, Room 10, Lyons Building, Kansas City, A.New
B. Leach & Co., N. Y. 217,050 85 C.H.Dick-)$2,000 due 1914_2,023 80
217,005 80 inson,Ox-)$2,000 due 1915_2,028 60
Kountze Bros., N. Y__
Kan., for $200,000 432% bonds. Interest semi-annual. Edm.Scymour
& Co.,N.Y.216,670 55 ford,N.Y.) 2,000 due 1911_2,010 00
Maturity March 1 1936. Certified check for 2% of bonds
The bid of the Oneida Bank was accepted with the underbid for, drawn on some bank in Kansas City, and made paya- standing that the county is to have the privilege of delivering
ble to Bernard Pollman, Treasurer Board of Drainage Com- the bonds as the money is needed.
Madisonville, Hamilton County, Ohio.-Bond Sale.missioners, is required.
24 the $10,933 18 5% coupon
The official notice of this bond offering will be found among Reports state that on Feb. assessment
bonds described in
• Center Street improvement
the advertisements elsewhere in this Department.
V. 88, p. 519, were awarded to Seasongood & Mayer of
-An
Voted.
County,
Neb.-Bonds
Washington
Kennard,
Cincinnati for $11,462 35-the price thus being 104.84.
eleetion held Feb. 4 resulted in favor of the question of issuing Maturity part yearly for ten years.
ion
The
bonds.
water-plant-construct
5%
$7,500
issuing
Mahoning County Road District No. 1, Ohio.-Bond
Maturity twenty years, Offering.-Proposals will be received until 1 :30 p. m.
vote was 59 "for to 18 "against.
subject to call after five years.
March 1 by Frank Agnew, Secretary of Board of CommisKeokuk County (P. 0. Sigourney), Iowa.-Bond Sale.- sioners, Room 215, Dollar Bank Building, Youngstown, for
On Feb. 17 Geo. M. Bechtel & Co. of Davenport were $120,000 5% road-building and improvement bonds. Deawarded the $110,000 4% 5-10-year (optional) coupon court- nomination $1,000. Date March 10 1909. Interest Feb. 1
house bonds described in V. 88, p. 462, at "par and expense and Aug. 1 at the County Treasurer s office. Maturity
of issue." Purchasers to pay accrued interest. Bonds are $4,000 each six months from Feb. 1 1910 to Aug. 1 1924 inclusive. Certified check on some bank in Mahoning County
dated March 11909.
King County School District No. 153, Wash.-Bond Sale. for $500 is required. Purchasers must be prepared to take
-The following proposals were received on Feb. 15 for the the bonds not later than March 10, the money to be delivered
$20,000 5-20-year (optional) coupon school-building and at one of the banks in the county or at the County Treasurer's
office. The county states that there has never been any
site-purchase bonds described in V. 88, p. 462:
par default in the payment of any obligation.
State of Washington (for 4 Ms)
$20,056 00
Malden, Mass.-Temporary Loan.-The City Treasurer, it
B. H. Rollins & Sons, Denver (for 430)
20,339 00
A. B. Leach & Co., Chicago (for 5s)
stated, has negotiated a loan of $150,000 with Curtis &
is
20,327
00
&
Moore,
McNear
58)
Chicago
(for
Woodin,
20,161 00 Sanger of Boston at 3.02% discount and a premium of 50
Otis & Hough, Cleveland (for 5s)
20,050 00
Geo. H. Tilden & Co., Seattle (for 5s)
Notes mature in 9 months.
20,304 50 cents.
(for 5)s)
do
do
Mamaroneck, Westchester County, N. Y.-Bend Sale.par
Morris Bros., Portland (for 5s)
par On Feb. 24 $10,000 5-24-year (serial) road and bridge bonds
Wm. D. Perkins & Co., Seattle (for 5 Ms)
20,220 00
S. A. ICean, Chicago (for Os)
were awarded to O'Connor & Kohler of New York City
Knoxville, Tenn.-Bonds Proposed.-On Feb. 5 the City at 100.50 for 4s. Bonds are dated April 1 1909.
Council passed on its first reading an ordinance providing
Following are the bids:
100.50
for the issuance of $150,000 high-school-building and site- O'Connor & Kahler, New York (for 4s)
100.11
'W. J. Hayes & Sons, Cleveland (for 4.10s)
purchase bonds.
100.23
Geo. M. Hahn, New York (for 4 hs)
Ms)
4
York
(for
New
Co.,
100.125
D.
&
Son
S.
Farson,
Sale.
-Bond
0.
(P.
Deadwood),
County
Lawrence
(P.
0.
County
Boydton),
Sale
Va.-Bond
Mecklenburg
coupon
refunding
10-20-year
(optional)
5%
The $150,000
bonds, proposals for which were asked until Jan. 9, were Not Consummated.-We are advised that A. J. Hood & Co.
awarded to MacDonald, McCoy & Co. (now McCoy & Co.) of Detroit have refused to accept the $60,000 5% coupon
of Chicago for $150,110-the price thus being 100.073. The Chase City Road District improvement bonds awarded them
securities are dated Nov. 1 1907 and are described in V. 88, (V. 87, p. 1493) on Nov.9 1908. They question the legality
of the isstie, owing to the fact that only part of the precincts
p. 64.
582
THE CHRONICLE
made returns at the election held Aug. 8 1908, when the
question of issuing the bonds was submitted. Our informant
adds, however, that application will be made to the Circuit
Court, which is now in session, for authority to call a special
election for the purpose of again voting on the question of
issuing the bonds.
Bond Offering.-Proposals will be received until March 8
by the Board of County Supervisors for $50,000 Clarksville
District permanent-road bonds. H. N. Beales is County
Treasurer.
Minneapolis, Minn.-Bonds Proposed.-On Feb. 3 a bill
providing for the issuance of the $600,000 school-building
bonds mentioned in V. 88, p. 323, and also for $300,000
bonds for school playgrounds, was introduced in the State
Legislature.
Minster, Auglaize County, Ohio.-Bond Offering.-Proposals will be received until 12 m. March 20 by Jos. H.
Laupersweiler, Village Clerk, for $2,500 5% coupon electriclight-works bonds. Denomination $250. Date March 1
1909. Interest semi-annually at the office of the Village
Treasurer. Maturity $250 each six months from March 1
1910 to Sept. 1 1914 inclusive. Certified check (or cash)
for $100 is required. Purchaser to pay accrued interest.
Mobile, Ala.-Bonds Authorized.-Local papers report
that the General Council on Feb. 17 authorized the issuance
of $320,000 paving bonds.
Mocksville, Davie County, N. C.-Bonds Not Yet SoldBond Offering.-Up to Feb. 11 no purchaser had yet been
found for the $4,100 5% coupon graded-school bonds-the
unsold portion of the issue of $5,000 bonds mentioned in
V. 88, p. 116. Proposals for these bonds will be received
at any time.
Montclair, Essex County, N. J.-Bond Sale.-N. W. Halsey & Co. of Chicago were the successful bidders on Feb. 20
for the $266,750 4% 30-year gold coupon school-building
and site-purchase bonds described in V. 88, p. 519. They
paid 103.399 and accrued interest-a basis of about 3.809%.
One of the firms offering to purchase the issue confirms
the following list of the bids received:
[VOL. Lxxxvm.
Newport, R. I.-Temporary Loan.-A loan of $30,000 has
been negotiated with the Aquidneck National Bank of Newport at 3.03% discount and a premium of 50 cents. Loan
is dated March 1 1909 and matures Sept. 15 1909.
Newton, Dale County, Ala.-Bond Offering.-Proposals
will be received until 12 m. March 15 by W. B. Mitchell,
Mayor,for $8,000 5% coupon water-works bonds. Denomination $100. Date March 15 1909. Interest payable at
the Newton Loan & Banking Co. in Newton. Maturity
March 15 1929. Bonds are exempt from all taxation.
Certified check for $100, payable to W. B. Mitchell, Mayor,
is required. Bonded debt,this issue..
Norton, Wise County, Va.-Bond Election.-An election
will be held on or about April 25 to vote on the question of
issuing $50,000 sewerage-system and street-improvement
30-year bonds.
Oakley (P.0. Sta. 0, Cincinnati), Hamilton County, Ohio.
-Bond Offering.-Proposals will be received until 12 m.
March 2 by Oscar Kosche, Village Clerk, for $11,814 26 5%
coupon sewer-improvement assessment bonds: Denomination $1,181 43. Interest payable at the Oakley Bank of
Oakley. Bonds are tax-exempt. Certified check for 5%,
payable to William Schmidt, Village Treasurer, is required.
Ocean View (P. 0. Berkeley), Cal.-Bonds Defeated.-The
election held Feb. 8 resulted in the defeat of the proposition
to issue the $10,000 current-expense bonds.
Otho Township School District (P. 0. Kalo), Webster
County, Iowa.-Bonds Not Sold-Bond Offering.-No
award was made on Feb. 20 of the $5,000 6% coupon schoolbuilding bonds described in V. 88, p. 463, as it was discovered that the proposed improvements would only necessitate the issuance of $4,000 bonds. Proposals are again
asked for and will be received this time until 2 p. m. March 6
for $4,000 1-8-year (serial) coupon bonds.
Patterson Special School District (P. 0. Patterson),
Hardin County, Ohio.-Bond Sale.-The $6,000 4
2-13-year (serial) coupon school bonds described in V. 88,
p. 463, were awarded on Feb. 16,it is stated,to Otis & Hough
of Cleveland at 102 and accrued interest.
N. W. Halsey & Co., N. Y__103.399IKountze Bros., New York__101.17
Pomeroy, Meigs County, Ohio.-Bond Sale.-On Feb. 23
A. B. Leach and R. M.1101.577 O'Connor & Kahler, N. Y__100.6279
Bank of Montclair
Grant & Co., N. Y
the $19,490 40 5% coupon street-improvement bonds de1
H. L. Crawford & Co., N. Y.101.532 Montclair Trust Co
100.50 scribed in V. 88, p.
520, were awarded to the Davies-Bertram
J. D. Everitt & Co., N. Y___101.45 First Nat. Bk. of Montclair_J
Montgomery, Ala.-No Action Yet Taken.-Up to Feb. 18 Co. of Cincinnati for $20,277 40 (104.037) and accrued
no action had yet been taken looking towards the issuance interest. Following is a list of the bidders and the premiums
by the same:
of the following 5% 30-year bonds voted on Dec. 14 1908 offered
Davies-Bertram Co.Cin____$787 00 First Nat. Bank, Cleveland_ _$609 00
(V. 88, p. 174): $140,000 for public schools, $25,000 for ex- Otis & Hough, Cleveland_
___ 785 00 Seaosngood & Mayer, Cln__ _ 686 00
New First Nat. Bk., Colum__ 785 00 Weil, Roth & Co., Cincinnati 504 00
tending the sewerage system; $50,000 for a hospital; $10,000 Hayden,
Miller & Co., Cleve_ 783 50
and
store-house
$25,006 for improving the
for a wharf and
Maturity five bonds each six months from Sept. 1 1909
'water-works. Our informant adds, however, that some to Sept. 1 1918 inclusive
and two bonds on March 1 1919.
probably
direction
will
be
this
steps in
taken March 1.
Portland, Me.-Note Sale.-Proposals were asked for
Montgomery County (P. 0. Montgomery), Ala.-New until 12 m. yesterday
(Feb. 26) by Samuel S. Gilbert, City
Bond Election.-An election will be held March 25 to vote Treasurer, for the discount
of $100,000 or $200,000 notes
on the question of issuing $150,000 43,3% 50-year road and issued in anticipation of the collection
of taxes.
bridge bonds. These bonds were voted on Jan. 4, but it was tion to be named in bid. Date,day of issue. DenominaMaturity
decided to re-submit the proposition,owing to the fact that Oct. 1 1909.
Reports state that $100,000 of these notes
the character of the bonds was not specified on the ballots were awarded to the Citizens'
Savings Bank of Providence
at the Jan. 4 election.
at 3.10% discount and another $100,000 to the First National
Monticello School District (P. 0. Monticello), Wright Bank of Boston at 3.11% discount.
County, Minn.-Bonds Voted.-On Jan. 18 this district
Portland Water District (P. 0. Portland), Me.-Bonds
voted to issue $16,000 4% bonds. We are advised that it is Proposed.-This district proposes to issue $2,000,000 450
expected that they will be bought by the State of Minnesota. bonds to refund notes issued to purchase water works. We
Mooers (Town), Clinton County, N. Y.-Bond Sale.-An are informed that it was originally intended to offer these
issue of $7,000 5% 1-7-year (serial) highway-improvement. bonds on Feb. 26 but it has been decided to postpone the
bonds was disposed of on Feb. 15. Robert E. Healey of sale until the Legislature takes action on a bill now before it
Plattsburg was the successful bidder, paying 102. This is providing that all bonds be exempt from taxation in Maine.
on a basis of about 4.449%. Denomination $1,000. Date Denomination $1,000. Date Dec. 1 1908. Interest semiMarch 1 1909. Interest annual.
annuallrin Portland or Boston. Maturity Dec. 11928.
Moulton Township (P. 0. Wapakoneta), Ohio.-Bond
Portsmouth, Ohio.-Bond Offering.-Proposals will be
Sale.-On Feb. 20 $1,000 6% drainage and ditch bonds were received until 12 m. March 3 by Filmore Musser, City Audiawarded to the First National Bank of New Bremen at tor, for $10,000 4% coupon fire-department building bonds.
102.125. A bid of 102.025 was also received from the Authority Section 2835 Revised Statutes. Denomination
People's Bank of Wapakoneta, Ohio. Date March 1 1909. $500. Date July 1 1908. Interest semi-annually at the
Maturity $333 33 on March 1 in the years 1910 and 1911 and City Treasury. Maturity on July 1 as follows: $4,000 in
$333 34 in 1912.
1911, $4,000 in 1912 and $2,000 in 1913. Certified check
Moultrie, Colquitt County, Ga.-Bond Election.-Ac- for 2% of the bonds bid for, payable to the City Auditor, is
cording to reports in local papers, the City Council has de- required. The above bonds were offered but not sold on
cided to call an election for the purpose of voting on the is- July 21 1908.-V: 87, p. 241.
Proctorville, Lawrence County, Ohio.-Bond Offering.suance of $50,000 bonds to extend the water mains for fire
Proposals will be received until 12 m. March 2 by T. W.
protection, complete the sewer work and improve streets.
Mt. Penn, Berks County, Pa.-Bonds Voted.-An issue 011om, Mayor, for $5,000 4% coupon refunding bonds.
of $10,000 improvement and refunding bonds was authorized Authority Section 2701, Revised Statutes. Denomination
by a vote of 67 "for" to 66 "against" at an election held $100. Date Jan. 1 1909. Interest semi-annually at the
office of the Village Treasurer. Maturity 1929, subject to
Feb. 16.
call after 1914. Bonds are exempt from all taxation.
Nereson (P. 0. Garland), Roseau County, Minn.-Bond Bonded debt
at present, $4,000. Floating debt, $1,000.
Offering.-Proposals will be received until 3 p. m. March 8 Assessed valuation
$143,444.
by Hans Christensen, Town Clerk, for $6,000 coupon road
Raritan Township School District, Hunterdon County,
bonds at not exceeding 6% interest. Authority Chapter 64 N. J.-Bond
-Proposals will be received until 3
Offering.
of Laws of 1905 and election held June 1 1908. Date p. m. March 1 by
District Clerk
Jan. 11909. Interest annually on July 1. Maturity twenty ton), for $45,000 H. E. Deats,school bonds. (P. 0. Fleming4% coupon
Denomination
years.
$500. Date Jan. 1 1909. Interest semi-annually at the
Newaygo County (P. 0. Newaygo), Mich.-Bond Election. Flemington National Bank at Flemington. Maturity on
-An election will be held April 5 to vote on the question of Jan. 1 as follows: $1,000 in 1914, $1,000 yearly from 1916
issuing $25,000 court-house and $15,000 infirmary-construc- to 1924 inclusive, $2,000 yearly from 1925 to 1934 inclusive
tion 4% bonds. Denomination $500. Interest annually on and $3,000 yearly from 1935 to 1939 inclusive. Delivery
March 1. Maturity $2,000 yearly on March 1 from 1910 to of bonds April 1 1909. Bonded debt of the district, including
1914 inclusive, and $3,000 yearly from 1915to 1924inclusive. this issue, $49,950. Assessed valuation $2,784,612.
583
THE CHRONICLE
B. 27 1901.1
1908.
Maturity
$18,000 police-station-building bonds. Date Oct. 1
Rhode Island.-Bond Sale.-On Feb. 25 the $300,000
$1,000 yearly on Oct. 1 from 1909 to 1926 inclusive.
$600,000
the
14,000 Bureau of Fire Building bonds. Date Nov. 1 1908. Maturity
and
Institutions
50-year Penal and Reformatory
v.,9g
$1,000 yearly on Nov. 1 from 1909 to 1922 inclusive. A
o•
30-year highway-construction 332% gold coupon or registered
at the
semi-annually
Interest
$1,000.
r'Denomination
Kountze
to
awarded
88,
p.
V.
520,
were
in
bonds, described
are exempt from
Bros. of New York City at 100.625 and accured interest. office of the City Treasurer. Bonds
Certified check
city.
the
by
paid
being
State
same
the
tax,
as
follows:
were
The other bids
The
required.
is
$1,000
for
company
on
trust
a
or
bank
Providence,
Co.,
Trust
the
and
Industrial
N. W. Harris & Co.. Boston
genuineness by the
their
to
as
to
certified
bonds
will
be
jointly-100.079 for both Issues.
Pawtucket Institution for Savings-101.75 for $50,000 highway bonds and United States Mortgage & Trust Co. of New York City.
102.25 for $50,000 reformatory bonds.
National Exchange Bank of Providence-101 for $50,000 highway, bonds.
Seattle, Wash.-Bond Offering.-Proposals will be reEllsworth Torrey, trustee. Providence-105.50 for $13,000 of either loan.
until 12 m. March 13 by H. W. Carroll, City Compceived
-ProOffering.
Rockport, Spencer County, Ind.-Bond
Robert
by
and ex-officio City Clerk, for $500,000 park and
troller
5
March
posals will be received until 10 a. m.
Atkinson, City Clerk, for $1,500 5% funding bonds. De- $500,000 municipal-light-extension coupon bonds at not
nomination $500. Date March 5 1909. Interest semi- exceeding .04% interest. Authority, election held Dec. 29
annual. Maturity part yearly on March 5 from 1910 to 1912
of issue. Interinclusive. Certified check for the amount of bid is required. 1908. Denomination $1,000. Date, day
-SState of Was
the
of
est
Agency
Fiscal
at
the
semi-annually
Purchaser to pay accrued interest.
Rock Springs School District No. 4 (P.0. Rock Springs), ington in New York City. Maturity twenty years=s-ifier's
Sweetwater County, Wyo.-Bond Sale.-On Feb. 15 the or. certified. check on a_ Seattle bank for $12,500 is required
$19,000 5% 10-25-year (optional) coupon school-building with bids for each issue.14'4A.'61Pri
'
bonds described in V. 88, p. 396, were awarded to E. H. P.', The
official notice of this bond offering will be found:among
Rollins & Sons of Denver at 104.342 and accrued interest
:-;•
-a basis of about 4.455% to the optional date and about the-advertisements elsewhere in this Department.
Shakopee, Scott County, Minn.-Bond Election.-An elec4.703% to full maturity. Following is a list of the bidders:
question of issuing
E. H. Rollins & Sons, Den.$19,825 00 W. E. Sweet 80 Co., Detr_$19,241 00
00 tion will be held April 6 to vote on the
J. A. Causey & Co., Deny. 19,571 00 Chas.H.Coffin& Co., Chic. 19,201
Co., Chic_ 19,167 00 $20,000 water-works bonds.
Otis & Hough, Cleveland.. 19,477 01 John Nuveen dcRock
Spgs. 19,150 00
McCoy & Co., Chicago_ _ _ 19,475 00 First Nat.Bk., Cheyenne
Somerville, Middlesex County, Mass.-Temporary Loan.19,000 00
A. B. Leach & Co., Chic__ 19,312 00 State Treasurer,
a19,000 00 On Feb. 24 a loan of $150,000 was negotiated with Curtis
hic.. 19,297 50 S. A. Kean, Chicago
Parson, Son &
Ch. 19,283 30
&
Ulen, Sutherlin Co.,do.,
& Sanger of Boston at 3.02% discount and a premium of
50 cents. The loan is dated Feb.24 1909 and matures Nov.2
a "less $950."
;
.
Rye, Westchester County, N. Y.-Bond Sale.-The 1909. 11
$400,000 10-49-year (serial) gold registered park bonds • Spokane, Wash.-Bond Sale.-On Feb. 18 the Harris
described in V. 88, p. 521, were sold on Feb. 24 to N. W. Trust & Savings Bank of Chicago purchased the $70,000
Harris & Co. of New York City at 100.194 and accrued 43% 20-year coupon refunding bonds described in V. 88,
reti
p. 118, at 107.03 and accrued interest-a basis of about
Interest for 3.85s. The other bidders were:
Wm.Salomon & Co.(for 3.85s)100.0431Wm. A. Read & Co. (for 4s)..101.07" 3.987%. Following are the bids:
100.537
Hahn
(for
M.
Provident Savings Bank &
45)
3.95s) _100.0111Geo.
& Savings
Kountze Bros. (for
O'Connor & Kahler (for 4s) _105.37
1
4
'
•
Saginaw County (P. 0. Saginaw West Side), Mich.Bond Sale.-The $16,000 1-10-year (serial) poor-houseaddition bonds described in V.88,p.325, were sold on Feb. 15
to the Thos. J. Bolger Co.of Chicago for $16,001 (100.006)
for 4s. There were thirty-five other bids received.
St. Bernard School District (P. 0. Cincinnati), Ohio.Bond Election Proposed.-Local papers report that the Board
of Education has been petitioned to call an election for March
10 to allow the voters to determine whether or notschoolbuilding-addition bonds shall be issued.
St. Clair County Drainage District No. 1, Ill.-Bond Offering.-Proposals will be received until 10 a. m. March 2 by
F. B. Harding, Clerk Board of Drainage Commissioners,
344 Collinsville Ave., East St. Louis, Ill., for $102,000 5%
registered drainage bonds. Denominations $1,000 and $500.
Date March 2 1909. Interest annually on Aug. 1 in Springfield. Bonds are exempt from all taxation. Certified check
for $500, payable to Jas. N. Keys, Treasurer, is required.
St. Paul, Minn -Bond Sale.-On Feb. 23 the $400,000
4% 30-year coupon refunding bonds described in V. 88,
p. 464, were awarded to N. W. Halsey & Co. of Chicago
at 104.035 and accrued interest-a basis of about 3.775%.
The following proposals were received:
N.W.Halsey & Co.,Chic_ 4416.140 00
Biodget,Merrit&Co., Bos_ 415,256 00
Lee,Higginson & Co. Chic. 414,479 60
Wm. R. Compton bond
& Mortgage Co.,St. L_ 413,243 00
Harris Tr. & S. B., Chic_ 412,560 00
A. B. Leach & Co., Chic_ 412,240 00
R. L. Day & Co., Boston 412,160 00
a For $200,000 bonds.
Merch L. & Tr.Co., Chic_$411,124 00
O'Connor dc Kahler,N.Y. 410,150 00
E.H.Rollins&Sons,Chic. 409,596 00
Kountze Bros.. N. Y____ 408,840 00
Capital National Bank,
a205,140 00
St. Paul
National German-Ameri351,375 00
can Bank, S. Paul_
b For $50,000 bonds.
All bidders offered accrued interest in addition to their
bids.
Salem, Mass.-Bond Sale.-The $40,000 33.70 1-10-year
(serial) coupon or registered bridge bonds described in V.88,
p. 521, were sold on Feb.23 to Perry,Coffin & Burr of Boston
at 103.129 and accrued interest.
Elec-"
San Joaquin County (P. 0 Stockton),
tion.-Reports state that a proposition to issue $1,890,000
road-construction bonds will be voted on March 16.
Santa Barbara, Santa Barbara County, Cal.:-:-Bond Sale.On Feb. 18 the $40,000 432% coupon water-works-extensiontunnel bonds described in V. 88, p. 464, were awarded to
Barroll & Co. of Los Angeles at 105.128 and accrued interest.
The bids received were as follows:
p
r
$41,776 00
barroll & Co., Los Ang_ _ _542,051 55 A. Edwards
N. W. Halsey & Co., San
E. H. Rollins do Sons. San
41,512 80
Francisco
•42,272 00
Francisco
N.W. Harris & Co., San F. 41,950 00 G. G. Blymyer & Co., San
41,157 00
Francisco
41,867 00
0. A. Edwards
• Bid said to be conditional.
r
•'
Maturity $1,000 yearly on Sept. 1 from 1909 to 1948
inclusive.
r Sausalito, Mann'County, Cal.-Bond Sale.-G. G. Blymyer & Co. of San Francisco have bought $100,000 5%
bonds of this city.
- Scranton, Pa,-Bond Offering.-Proposals will be received
until 12 m. March 6 by J. Benj. Dimmick, Mayor, at the
office of Edward Eisle, City Comptroller, for the following_registered or coupon 470...bonds:
Lai
l44.1...:kj
Harris Trust
Trust Co., Cincinnati_ 473,892 01
$74,921 00
Bank, Chicago
McCoy & Co., Chicago__ 73,859 00
Wm. R. Compton Bond &
74,463 00 Jas. H. Adams & Co., Los
Mtge. Co.. St. Louis_
72,877 06
Angeles
Devitt. Tremble & Co.,
74,425 00 O'Connor & Kahler, N. Y_ 72.500 05
Chicago
74,298 00 Union Savings Bank &
A. B. Leach & Co., Chic
Trust Co., Cincinnati__ 72,475 05
C. E. Denison & Co.,Clev. 74,251 00
National City Bank, Chic_ 74,228 00 Seattle Trust & Title Co.,
72.351 06
N. W.Halsey & Co., Chic_ 74,113 901 Seattle
Lee, Higginson &Co.,Chic. 74,042 50 Mercantile Tr. Co.. St. L_ 71,500 OS
•70.1180 OS
E.H.Rollins&Sons,Denver 73,900 00 S. A. Kean, Chicago
•
• Bid not accompanied by the required certified check.
In addition to the above,an offer of $70,371 for 4s was also
received from the Harris Trust & Savings Bank of Chicago,
while Woodin, McNear & Moore of Chicago bid $70,200 for
4s. All bidders offered accrued interest in addition to their
411
,
4
bids.;14,4 -J.1 .1q;
Stamford (City), Fairfield County, Conn.-Bids.-The
$50,000 4% 30-year public-park bonds awarded on Feb. 19
to Howard K. Stokes of New York City (V. 88, p. 521)
attracted the following list of bids:
Howard K. Stokes, N. Y____104.812,1N. W. Harris dc Co., N. Y__102,88$
102.78
Estabrook & Co., Boston_ _ _104.31 Adams & Co., Boston
102.79
E. M. Farnsworth & Co.,Bos_103.78 Kountze Bros., N.Y
C. E. Denison & Co., Boston _103.58 Blodget, Merritt dc Co.. N.Y..102.714
Perry, Coffin & Burr, Boston 103.359 Crocker & Fisher. Boston_ 102.639
O'Connor & Kahler. N. Y_103.16 Merrill, Oldham & Co..
102.318
Boston
R. L. Day & Co., Boston_ ___103.099
E. H. Rollins & Sons, Boston 101.516
Whicher, Young & Conant,
103.08
• -I si
Boston
Sturgeon Bay, Door County, Wis.-Bond Offering-Postponed.-The offering of the $30,000 5% 5-19-year (serial)
coupon electric-light-plant bonds described in V. 88, p. 521,
which was to have taken place March 1 has been postponed
S-44
for a short time to correct some omissions."
. Sussex County (P.0. Sussex), Va.-Price Paid for Bonds.
-The price paid for the $41,000 04% 10-30-year (optional)
coupon refunding bonds recently awarded to John Nuveen
& Co. of Chicago (V. 88, p. 521) was par.
Tamaqua, Schuylkill County, Pa.-Bonds Voted.-The
$20,000 water bonds mentioned in V. 88, p. 326, were authorized by a vote of 548 "for" to 204 "against" at the elecfl
tion held Feb. 16.
Tazewell, Tazewell County, Va.-Bond Offering.-This
town is offering for sale $12,000 6% bonds. Denomination
$500. Maturity thirty years, subject to call after five years.
4
E. V. Spotts is Mayor.
Tipton County (P. 0. Tipton), Ind.-Bond Sale.-The
following 43% highway-construction bonds have been
bought by J. F. Wild & Co. of Indianapolis at par: •
5
$4.940 Perry Township bonds, dated Nov. 5 1908.
2,640 Prairie Township bonds, dated Sept. 1 1908.
• 4,500 Jefferson Township bonds, dated Aug. 5 1908.
•
•'
•
67.r4.1
4
,
P7';'
The above ,bonds mature part yearly in from one to ten
years.
Troy, N. Y.-Bond Offering.-Proposals were asked for
until 11 a. m. yesterday (Feb. 26) for $75.000 4% revenue
bonds. Date Feb. 26 1909. Maturity Oct. 19 1909.
Bonds are exempt from taxation. The result of this bond
offering was not known to us at the hour of going to press.
Trumbull County Road District No. 1 (P. 0. Warren),
Ohio.-Bond Sale.-On Feb. 23 the $60,000 5% coupon
road-improvement bonds described in V. 88, p. 521, were
awarded to the Cleveland Trust Co. of Cleveland for $68,050
-the price thus being 113.416. Maturity $3,000 each six
months from Sept. 1 1923 to March 1 1933 inclusive.
[VOL. Lxxx-vm.
THE CHRONICLE
584
Toledo, Ohio.-Bonds Authorized.-The City Council has
passed ordinances providing for the issuance of the following 5% coupon assessment bonds:
$33,373 44 Summit Avenue No. 2 improvement bonds. Denomination
$3,350, except one bond of $3,223 44. Date Oct. 1 1908.
Maturity part each six months from March 1 1909 to Sept. 1
1913 inclusive.
3,116 40 alley-improvement No. 34 bonds. Denomination $315, except
one bond of $281 40. Date Oct. 23 1908. Maturity part each
six months from March 23 1909 to Sept. 23 1913 inclusive.
1,474 98 alley-Improvement No. 36 bonds. Denomination $150, except
one bond of $124 98. Date Sept. 25 1908. Maturity part each
six months from March 25 1909 to Sept. 25 1913 inclusive.
5,202 74 Batavia Street No.2 improvement bonds. Denomination $525,
except one bond of 3477 74. Date Oct. 18 1908. Maturity
part each six months from March 18 1909 to Sept. 18 1913
inclusive.
1,973 70 Sewer No. 1033 construction bonds. Denomination 500, except
one bond of ;473 70. Date Oct. 30 1908. Maturity part each
six months from March 30 1910 to Sept. 30 1911 inclusive.
2.312 55 Balfe Street No. 1 Improvement bonds. Denomination $235,
except one bond of $197 55. Date Oct. 2 1908. Maturity
part each six months from March 2 1910 to Sept. 2 1914 Incl.
14,925 90 Hicks Street No. 2 paving bonds. Denominations $1,500,
except one bond for $1,425 90. Date Nov. 15 1908. Maturity
part each six months from March 15 1910 to Sept. 15 1914 inclusive.
4,428 24 Sewer No. 1,027 construction bonds. Denominations $1,110.
except one bond for $1,098 24. Date Nov. 25 1908. Maturity
part each six months from March 25 1010 to Sept. 25 1911 inclusive.
4,519 39 Libbey Street No. 1 paving bonds. Denominations $455, except one bond for $424 39. Date Nov. 17 1008. Maturity
part each six months from March 17 1910 to Sept. 17 1914 inclusive.
2,132 76 sewer No. 1,038 construction bonds. Denomination $550, except one bond for $482 76. Date Dec. 24 1908. Maturity
part each six months from March 24 1910 to Sept. 24 1911 inclusive.
1,957 115 sewer No. 1,035 construction bonds. Denomination $500. except one bond for 3457 85. Date Nov. 2 1008. Maturity part
each six months from March 2 1910 to Sept. 2 1911 inclusive.
1,392 07 alley No. 40 improvement bonds. Denomination $140, except one bond for $132 07. Date Nov. 17 1908. Maturity
part each six months from March 17 1910 to Sept. 17 1914 Inclusive.
869 01 Galena Street No. 2 paving bonds. Denomination $90, except
one bond for $59 01. Date Nov. 23 1908. Maturity part each
six months from March 23 1910 to Sept. 23 1914 inclusive.
1,212 99 Sewer No. 1034 construction bonds. Denomination $310,
except one bond of $282,99. Date Dec. 12 1008. Maturity
part each six months from March 12 1910 to Sept. 12 1911
Inclusive.
1,773 15 Alley Improvement No. 39 bonds. Denomination $180, except
one bond of $153 15. Date Dec. 15 1908. Maturity part each
six months fromMarch 15 1910 to Sept. 15 1914 inclusive.
6.045 51 Fulton Street No. 3 improvement bonds. Denomination $610,
except one bond of $555 51. Date Dec. 22 1908. Maturity part
each six months from March 22 1910 to Sept. 22 1914 inclusive,
4,307 02 Sylvan Avenue No. 1 Improvement bonds. Denomination $435.
except one bond of $392 02. Date Nov. 10 1908. Maturity
part each six months from March 10 1910 to Sept. 10 1914
Inclusive.
541 73 sewer No 1040 construction bonds. Denomination $140,except
one bond of ;121 73. Date Dec. 27 1908. Maturity part each
six months from March 27 1910 to Sept. 27 1911 inclusive.
1,581 70 sewer No.1021 construction bonds. Denomination $400, except
one bond of $381 70. Date Dec.30 1908. Matuxity part each
six months from March 30 1910 to Sept. 30 1911 incusive.
6,003 41 Mulberry Street No. 2 Improvement bonds. Denomination $610,
except one bond of $518 41. Date Dec. 30 1908. Maturity
part each six months from March 30 1910 to Sept. 30 1914 Inclusive.
3,845 21 Huron Street No. 7 improvement bonds. Denomination $400.
except one bond of $245 21. Date Jan. 12 1909. Maturity
arch 12 1910 to Sept. 10 1914 incl.
part each six months from
4,228 36 Parkwood Avenue No. 5 improvement bonds. Denomination
$430, except one bond of $358 36. Date Jan. 4 1909. Maturity
arch 4 1910 to Sept. 4 1914 incl
part each six months from
10,653 22 White Street No. 2 paving bonds. Denomination 31,075, except one bond for $978 22. Date Dec. 29 1908. Maturity part
each six months from March 29 1910 to Sept.29 1914 inclusive.
4,831 22 sewer No. 1,043 construction bonds. Denomination $1,250, except one bond of $1,081 22. Date Feb. 22 1909. Maturity
part each six months from March 22 1910 to Sept. 22 1910 inclusive.
9,414 60 Glenwood Avenue No. 2 improvement bonds. Denomination
$950, except one bond of $864 60. Date Feb. 17 1909. Maturity part each six months from March 17 1909 to Sept. 17
1913 inclusive.
Scottwood Avenue No. 6 improvement bonds. Denomination
91
11,646
$1,175, except one bond of $1,071 91. Date Jan. 10 1909.
Maturity part each six months from March 10 1910 to Sept. 10
1913 inclusive.
Interest semi-annually in March and September at the
Second National Bank of Toledo.
Bonds Proposed.-An ordinance providing for the issuance
of $300,000 bonds for purchasing a fire-tug and the construction of auxiliary water mains has been referred to the
Council Committee on Ways and Means.
On Jan. 20 the Finance Committee of the City Council
authorized the City Solicitor to draft legislation for $100,000
4% filtration-plant bonds dated March 1 1909 and maturing
$50,000 in each of the years 1921 and 1922.
Tuscarawas County (P. 0. New Philadelphia), Ohio.Bond Election Proposed.-Aceording to dispatches, the
County Commissioners are considering the advisability of
calling an election to vote on the question of issuing $500,000
road-improvement bonds.
Union County (P. 0. Marysville), Ohio.-Bond Sale.On Feb. 20 Breed dr Harrison of Cincinnati were awarded
$30,000 5% pike bonds, it is reported, at 105.125.
NEW LOANS.
$10,000,000
NEW YORK CITY
4 Per Cent Gold Corporate Stock
Exempt from all Taxation
Issued in Coupon or Registered Form
Interchangeable at will after:Purchase
PAYABLE NOV. 1, 1958
NEW LOA NS
$225,000
Town of Norwalk, Connecticut,
REFUNDING BONDS.
Sealed bids will be received by the undersigned.
Selectmen of the Town of Norwalk, Connecticut,
for the purchase, at not less than par, of the whole
or any part of refunding bonds to be issued by
said 'Down of Norwalk to the amount of two hundred and twenty-eve thousand dollars, said bonds
to be either registered or coupon, dated April 1,
1909, and payable 30 years from date, with interest at 4% per annum, payable semi-annually.
A sinking fund of $3,000 each year is provided for the payment of said bonds at maturity
All bids must be sent to the undersigned
Selectmen in a sealed envelope, marked "Bids for
town bonds," and be received by them on or before March 4, 1909, at 12 o'a ck noon, and must
be accompanied by a certified check for 2% of the
par value of bonds bid for.
The right is reserved to reject any or ad bids.
JAMESA. BROWN,
ALFRED AVISON.
JOHN DEVINE,
Selectmen of the Town of Norwalk, Conn,
NOTICE TO REDEEM
Galveston Forty-Year Limited Debt
Bonds of the
To Be Sold Tuesday,March 2,1909 CITY OF
At 2 o'clock P. M.
GALVESTON
Issued by it In the year 1883
Notice is hereby given to the holders of the
bonds of the City of Galveston known as "Galveston forty-year limited debt bonds," issued by
said city in the year 1383, and numbered 979.
980, 981, 982, 983, 984, 985. 986, 987, 988, 989,
990, 991, 992, 993, 994, 995, 996, 997, 998, 999,
1000, 1001, 1002 and 1003, each of said bonds
being for one thousand dollars ($1,000) and each
dated on the 1st day of January. 1883, that the
city of Galveston will redeem at par the hereinbefore named and numbered bonds upon their
presentation at the office of the Treasurer of said
city, at Galveston, on the 31st DAY OFMARCH,
1909, and any of the bonds herein described and
designated which are not presented for redempLion, as aforesaid, on the 31st DAY OF MARCH
shall cettsee too
!
be
arteeryst from andafter
j
bonds hereby
redemption being those bearing the earliest date
of said "Galveston forty-year limited debt bonds"
which are now
This notice is given
Send bids ta a sealed envelope enclosed in the addressed envelope. A DEPOSIT OF TWO PER in pursuance ofoutstanding.
Section 2 of the Ordinances of
B/D,
ACCOMPANY
such
deposit must be in money or certified
• CENT Or PAR VALUE MUST
City by virtue of which Ordinances the bonds
check upoo a New York State Bank or Trust Company, or a National Bank. For fuller information hereinbeforo named and
designated were Issued.
see "City liesord", published at Room No. 2, City Half, New York.
The option is hereby extended to the holders
of the above-numbered bonds to receive instead
of payment and in exchange thereof 4 3 % GalConsult any Bank or Trust Company, or address
veston Grading, Filling and Drainage Bonds,
which are due forty years from date, tho city
reserving the right at any time after twenty years
from the date of the bonds to redeem, selecting
by lot the bonds to be so redeemed.
T. J. GROCE,
280 Broadway, New York.
Treasurer of the City of Galveston.
COUPON INTEREST PAYABLE
AT OPTION OF HOLDER
IN NEW YORK OR LONDON
A LEGAL INVESTMENT FOR TRUST FUNDS .1910d9.
HERMAN A. METZ, Comptroller City of New York
585
THE CHRONICLE
FEB. 27 1909.1
Washington County (P. 0. Jonesboro), Tenn.-Bond
Utica, N. Y.-Bond Sales.-On Feb. 25 the $186,000
4% 1-20-year (serial) registered refunding railroad bonds Election.-The proposition to issue the $150,000 road bonds
described in V. 88, p. 521, were awarded to Wm. Salomon mentioned in V. 88, p. 397, will be voted on March 13.
& Co. of New York City at 101.397 and accrued interestWashington Township (P. 0. Centerville), Montgomery
a basis of about 3.838%. Following are the bids:
County, Ohio.-Bond Sale.-On Feb. 20 the $4,000 5%
Wm.Salomon& Co.,N.Y.$188,600 28 Kountze Bros., N. Y_ _$187,656 80 coupon town-hall bonds described in V. 88, p. 522, were
Wadsworth & Wright,
Isaac W. Sherrill & Co..
187,525 25 awarded to the First National Bank of Cleveland at 110.437
Poughkeepsie
188,362 21
New York
H. L. Crawford & Co.,
Lawrence Barnum & Co..
and accrued interest. The bids received were as follows:
188,158 00
New York
A. B. Leach & Co., N. Y. 188,064 60
New York
187,367 54
First Nat. Bank,Cleveland $4,417 50 Otis & Hough, Cleveland_ _$4,339 00
Seasongood & Mayer, Cinc_ 4,403 85 W.J. Hayes & Sons, Cleve_ 4,324 Oa
The two issues of 41 2% 1-6-year (serial) registered paving New First Nat. Bk., Colum, 4,380 00 Arthur Coon, Cincinnati_ __ 4,221 20
bonds, aggregating $17,378 76, also offered on the same day, Hayden, Miller & Co-Clev_ 4,367 00 Albert Kleybolte & Co., Ctn. 4,220 00
Wenatchee School District (P. 0. Wenatchee), Chelan
were bought by H. L. Crawford & Co. of New York City at
101.43 and accrued interest-a basis of about 4.058%. County, Wash.-Price Paid for Bonds.-The price paid for
the $80,000 school-building and site-purchase bonds awarded
A list of the proposals received follows:
on Feb. 6 to the State Board of Finance (V. 88, p. 523) was
H.L.Crawford & Co.,N.Y.$17,627 451W. J. Hayes & Sons,
00
$17,382
par for 4s. Denomination $1,000. Interest semi-annual.
W. N. Coler & Co., N. Y. 17,398 761 Cleveland
Certificates Not Sold.-No bids were received for the Maturity twenty years, subject to call after one year.
$150,000 8-months certificates of indebtedness proposals
White County (P. 0. Sparta), Tenn.-Bond Election.-A
for which were also asked until Feb. 25.
proposition to issue $50,000 pipe-construction bonds will be
submitted to a vote of the people, it is stated, on March 20.
Valley County (P. 0. Glasgow), Mont.-Bond 0ffering
Proposals will be received until 2 p. m. March 4 by W. B.
Wichita, Kan.-Bonds Not Yet Sold.-No award has yet
Shoemaker, County Clerk, for $63,000 4% coupon refunding been made of the $860,000 20-year water-plant-construction
bonds. Denomination $1,000. Date April 1 1909. In- bonds, at not exceeding 432% interest, offered without
terest Jan. 1 and July 1 at the County Treasurer's office success (V. 88, p. 177) on Jan. 4.
in Glasgow or in New York City, at option of purchaser.
Willits, Mendocino County, Cal.-Bond Sale.-On Feb. 15
Maturity April 1 1929. Certified check .or $500, payable
the $30,000 5% 1-30-year (serial) coupon sewerage bonds
to the County Treasurer, is required.
Wahoo, Saunders County, Neb.-Bond Sale.-The $50,- described in V. 88, p. 327, were awarded to G. G. Blymyer
Francisco at 107.50 and accrued interest000 5% coupon water-works bonds described in V. 86, p. & Co. of San
about 4.332%. Following are the bids:
1609, have been awarded to W. E. Barkley Jr. of Lincoln at a basis of
G.G.Blymyer&Co.,San Fran_ $32.2501 State of California
$31,320
par and accrued interest.
N.W.Halesy & Co., San Fran 31,8091John Nuveen & Co., Chicago 30,000
Washington, Daviess County, Ind.-Bond Sale.-An J. H. Adams & Co., Los Ang. 31,5271
issue of $20,000 4% electric-light refunding bonds was sold
Willow, Glen County, Cal.-Bond Offering.-Proposals
on Feb. 22, it is stated, to J. F. Wild & Co. of Indianapolis will be received until 8 p. m. March 1 (date changed from
at 101.65.
Feb. 23) by E. M. Garrison, Town Clerk, for $30,000 5%
Washington County (P. 0. Salem), Ind.-Bond Sale,- gold coupon sewer bonds. Denomination $1,000. Interest
Madison Township 43-% highway-building bonds to the June 1 and Dec. 1 at the Bank of Willow. Maturity $1,000
amount of $4,560 have been purchased by J. F. Wild & Co. yearly on Dec. 1 from 1909 to 1938 inclusive. Certified
of Indianapolis at par. The bonds are dated Dec. 15 1908 check or certificate of deposit for 5% of bid, payable to the
and mature part yearly in from one to ten years inclusive Town Treasurer, is required. The town has no debt at
NEW LOANS.
NEW LOANS.
THE CITY OF SEATTLE
$25,000
Bullitt County, Kentucky
$500,000
$500,000
MUNICIPAL LIGHT EXTENSION BONDS
PARK BONDS
Sealed proposals will be received by the undersigned until Twelve (12) o clock Noon of March 13
1909, for the purchase of $500,090 Municipal
Light Extension Bonds, being a portion of the
*800,000 voted at the Special Election held in
the City of Seattle on the 29th day of December
1908, under and by virtue of Ordinance Number
19605.
Said bonds to be issued in denominations of
$1,000 each and to bear date as of the date.of
their actual issue to the successful bidder.
Bonds shall mature and become payable twenty
(20) years from the date of their issuance and shall
bear interest at a rate not to exceed four and onehalf (43,5) per cent per annum, interest payable
semi-annually, and interest coupons for the payment of such interest semi-annually to be attached
to said bonds. Both principal and interest payable at the Fiscal Agency of the State of Washington in New York City.
Bidders may bid for said bonds by offers of
premium on said bonds at the stated maximum
rate, or by offers to take said bonds at a rate
Lower than the stated maximum rate, or by offers
of premium on said bonds at a rate lower than
the stated maximum rate.
The right is reserved to reject any or all bids.
Bids must be accompanied by a cashier's or
certified check on some bank located in the City
of Seattle, payable to the undersigned, in the sum
of Twelve Thousand, Five Hundred Dollars
(*12,500.00), which will be returned if the bid
Is not accepted. If accepted, the amount of the
check will be applied upon the purchase price of
the bonds.
Said bonds will be delivered to the successful
bidder.
All bids will be opened and considered by the
corporate authorities in the office of the City
Comptroller of the City of Seattle on Saturday,
March 13th, 1909, at Twelve (12) o'clock Noon.
Further particulars will be given by the undersigned upon application.
H. W. CARROLL,
City Comptroller and ex-officio City Clerk.
Dated Seattle, Washington, February 10, 1009.
Date of Brat publication February 11 1909.
Sealed proposals will be received by-the under.
signed until Twelve (12) o'clock Noon of/March 13,
1909, for the purchase of $500,000 Park Bonds,
being one-half of the $1,000,000 voted at the
Special Election held in the City of Seattle on the
29th day of December, 1908, under and by.virtue
of Ordinance Number 19606.
Said bonds to be issued in denominations of
$1,000 each and to bear date as of the date of their
actual issue to the successful bidder.
Bonds shall mature and become payable twenty
(20) years from the date of their issuance and shall
bear interest at a rate not to exceed four and onehalf (4 M) per cent per annum, interest payable
semi-annually and interest, coupons for the payment of such interest semi-annually to be attached
to said bonds. Both principal and interest payable at the Fiscal Agency of the State of Washington In New York City.
Bidders may bid for said bonds by offers of
premium on said bonds at the stated maximum
rate, or by offers to take said bonds at a rate lower
than the stated, maximum rate, or by offers of
premium on said bonds at a rate lower than the
stated maximum rate.
The right is reserved to reject any or all bids.
Bids must be accompanied by a cashier's or
certified check on some bank located in the City
of Seattle payable to the undersigned in the sum
of Twelve Thousand, Five Hundred Dollars
($12,500.00), which will be returned if the bid is
not accepted. If accepted, the amount of the
check will be applied upon the purchase priceof
the bonds.
Said bonds willIbe delivered to:the:successful
bidder.
All bids will be opened and considered by the
corporate authorities in the office of the City
Comptroller of the City of Seattle, Washington,
on Saturday, March 13th, 1909, at ,Tweive (12)
o'clock Noon.
Further particulars willIbe given by the undersigned upon application.
H. W. CARROLL,
City Comptroller and ex-officio City Clerk.
Dated Seattle, Washington, February 10 1909.
Date of first publication February 11 1909
Perry, Coffin & Burr,
INVESTMENT BONDS
HUNT, SALTONSTALL & CO.,
$200,000
KAW VALLEY DRAINAGE DISTRICT,
Wyandotte County, Kansas
43,6% BONDS
The Kaw Valley Drainage District of Wyandotte C( unty, Kansas, will sell at its office In
Kansas City, Kansas, at ten o'clock a. m. on
MARCH 3d, 1909, $200,0110 434% bonds of said
District maturing March 1st 1936, without option
of prior payment, interest payable semi-annually.
All bids to be presented by ten o'clock a. m.
of said day. Bids must be sealed and addressed
to W. H. Daniels, President, and plainly marked
"Bid for Bonds," and presented in open session
at the time and place above stated. Bids may
be for the entire amount or any part thereof and
each bid must be accompanied by a certified check
for 2% of the amount bid for, on some Bank in
Kansas City, Kansas, payable to Bernard Poilman
Treasurer of the Board.
Further information will be furnished Si application to the Secretary.
'
4111
By order of The Kaw Valley Drainage District.
W.11. DANIELS.President
THOMAS E. MYERS, Secretary
Room 10 Lyons Building, Kansas City, Kan.
Motabors of Now York Stock Exchange
60 State Street,
Investment Securities
BOSTON.
00 STATE STREET
BOSTON
ROAD BONDS
The undersigned will up to nun the 27TH
DAY OF FEBRUARY, 1909, receive sealed bide
for the purchase of Builitt County, Ky. Road
bonds to the amount of $25,000, dated the 1st
day of April, 1909, in denominations of $1,000
each, bearing interest at five per cent per annum:
payable semi-annually on the 1st day ef April
and October, maturing as follows:
$5,000
1st April
1911
15,000
1st April
1916
$5,000
1st April
1922
15.000
1st April
1926
15,000
1st April
1930
Said bonds and interest are payable at the
Fidelity Trust Company of Louisville, Kentucky
The county shall have the option of paying any of
said bonds at the expiration et ten years from
date of issue and at the falling due of any Installment of interest thereafter.
No bid for less than face value and Interest
accrued to time of delivery will be considered.
Each bid must be accompanied by certified check
for $500, payable to the Commissioner, as an
evidence of good faith. The checks will be
returned to those whose bids are not accepted.
J. F. COMBES, Commissioner,
Shepherdsvfile, Kentucky.
Established 12,4t445.
H. C. Speer 8c Sons Co.
First Nat. Bank Building, Chicago
CITY COUNTY
AND TOWNSHIP
BONDS.
586
THE CHRONICLE
present. Assessed valuation $718,000. Real valuation
(estimated) $900,000. The Town Clerk states there has
never been any default in the payment of obligations; also
that the legality of this issue has never been questioned.
Worcester County (P.0. Worcester), Mass.—Note Sale.—
According to reports $100,000 notes were recently disposed
of as follows: $50,000 due Oct. 15 1909 awarded to the
Merchants' National Bank of Worcester at 3.02% discount
and $50,000 due Dec. 15 1909 awarded to George Mixter
at 3.01% discount and a premium of $1 75.
Canada, its Provinces and Municipalities.
Lxxxvm.
Fort Erie, Ont.—Debenture Elertion.—On March 15 the
taxpayers of this place will vote on the question of issuing
$50,000 5% 30-year water-works debentures.
Fort William, Ont.—Debenture Sale.—On Feb. 22 the
thirteen issues of 43/2% coupon debentures, aggregating
$485,500, described in V.88, p. 399, were awarded, according
to reports, to the Ontario Securities Co. of Toronto.
Fox School District No. 2211, Sask.—Purchaser of Debentures.—The $1,000 6% 10-year debentures recently sold
(V. 88, p. 524) were purchased, according to reports, by
G. A. Stimson & Co. of Toronto.
Fruitvale School Dist., Sask.—Debenture Sale.—An issue
of $800 7% 10-year debentures has been awarded, it is
stated, to W. A. Mackenzie & Co. of Toronto.
Haileybury, Ont.—Debenture Sale.—It is reported that
$4,000 sewerage debentures have been awarded to W. C.
Brent of Toronto.
Hartney, Man.—Debenture Offering.—Proposals will be
received until 8 p. m. May 3 by T. B. Woodhull, SecretaryTreasurer, for $5,000 5% coupon sidewalk-improvement
debentures. Date Dec. 31 1908. Interest annually at
Hartney. Maturity from 1909 to 1929. Debenture debt,
including this issue, $19,000. Assessed valuation for 1908
•
$309,600.
Lunnville School District, Sask.—Debenture Sale.—This
district has disposed of $1,000 63/2% 10-year debentures to
W. A. Mackenzie & Co. of Toronto.
McNab Township, Ont.—Debenture Sale.—On Feb. 8
the three issues of 4%% coupon debentures aggregating
$20,000, voted on Jan. 4 (V. 88, p. 178), were awarded to
Wm. C. Brent of Toronto at 101.125. The following bids
were received:
Arroyo School District No. 1980, Sask.—Debenture Sale.—
On Jan. 18 J. Addison Reid of Regina was awarded $1,500
634% 10-year school-house debentures at 100.65. Date
Jan. 18 1909. Interest annual.
Asquith, Sask.—Debenture Offering.—Proposals will be
received until 3 p. m. March 1 by Dr. Nelson G. Cooper,
Secretary-Treasurer, for the following 6% debentures recently voted (V. 88, p. 524): $5,000 for fire apparatus, $5,000
for a town-hall and $2,600 to improve the race-track and
fair grounds.
Barrie, Ont.—Debenture Offering.—Proposals will be received until 2 p. m. April 2 by E. Donnell, Town Treasurer,
for $12,000 OM light-plant-extension debentures voted
on Jan. 4 (V. 88, p. 119). Interest annual. Maturity part
yearly on Jan. 16 for twenty years. Purchaser to pay accrued interest.
Bernardino School District, Sask.—Debenture Sale.—
W. A. Mackenzie & Co. of Toronto have purchased $800
7% 10-year bonds of this district.
Eden Valley School District, Sask.—Debenture Sale.—
Debentures of this district amounting to $1,000, bearing Wm. C. Brent
120,225 001A E. Ames & Co
119,780 05
6% interest and due in ten years, have been purchased, British-Am. Security Co.. 20.193 49IW. A. MacKenzie
& Co
19.800 Oa
it is reported, by the Ontario Securities Co. of Toronto.
above
The
bidders are all of Toronto. Maturity part
Estevan, Sask.—Debenture Election.—It is stated that an yearly on March 31 from 1910 to 1929 inclusive.
election will probably be held March 12 to vote on the
Medicine Hat, Alberta.—Debenture Sale.—The Dominion
question of issuing $30,000 debentures for fire-protection Securities Co. of Toronto has purchased $21,500 5% 20-30urposes and $10,000 for municipal buildings.
year industrial improvement debentures.
NEW LOANS.
INVESTMENTS.
$225,000
Town of Stamford, Conn., Blodget, Merritt & Co.
BANKERS
NEW TOWN HALL BONDS
INVESTMENTS.
Albert Kleybolte & Co.,
409 Walnut Street,
Sealed proposals for the sale of $225,000 00
Town of Stamford. Conn.. New Town Hall Bonds,
will be received by the Town Treasurer at the
Town Hall, Stamford, Conn.. until March 18th.
1909. at two o'clock In the afternoon. Said bonds
bear Interest at the rate of tour per cent per annum, payable semi-annually, and mature thirty
years from December 1st, 1908. No bid will be
accepted for less than par and accrued interest.
The right Is reserved to reject any and all bids.
All proposals must be accompanied by a certified
check or bank draft for five per cent of the par
value of the bonds bid for.
For further particulars address,
FRANK B. GURLEY,
Town Treasurer,
Stamford, Conn.
STATE, CITY
AND
RAILROAD BONDS
CINCINNATI, 0.
Municipal,
County,
6o State Street, - Boston
30 Pine Street, - New York
State,
and Itigh.Grade Public Service
Securities
Correepondeace Solicited.
BLACKSTAFF & CO OTTO JULIUS MERKEL
$100,000
BROKeR
INVESTMENTS
City of Charlotte, No. Carolina
44 AND 46 WALL ST., NEW
434% Coupon Funding Bonds.
Sealed bids will be received on MARCH 10,
1909, AT TWELVE O'CLOCK M., at the City
Hall in Charlotte, North Carolina, for the sale of
One Hundred Thousand Dollars ($100,000 00)
of thirty-year (30) Coupon Funding Bonds, of
the denomination of $1,000 00 each, bearing
four and one-half (4
per cent interest, payable
semi-annually, both interest and principal payable in New York City, and the Bonds to be dated
March 15th, 1909. This issue is made under
authority of an Act of the General Assembly of
North Carolina. Each bid must be accompanied
by a certified check of $1,000 00, payable to the
Treasurer of the City of Charlotte, as a guarantee
of good faith, to be forfeited to the City in case
the Bonds are not accepted In accordance with
the bid.
The City reserves the right to reject any and
all bids.
T. S. FRANKLIN, Mayor.
A. H. WEA RN, Treasurer.
1332 Walnut Street
PHILADELPHIA
LIST OF SPECIALTIES ON REQUEST
AUNICIPAL AND RAILROAr
BONDS.
LIST ON APPLICATION.
YORK,
INVESTMENT SECURITIES.
CorrosnondAnon Invttad
McCOY
SE COMPANY
Formerly MacDonald, McCoy & CO.
Municipal and
Corporation Bonds
iEASON GOOD & MAYBit 181 La Salle Street, - Chicago
Mercantile Library Building
CHELTEN TRUST COMPANY
Charles M. Smith St Co.
A SPECIALTY
5614 Germantown Avenue
Philadelphia, Pa.
CORPORATION AND
MUNICIPAL BONDS
FRANCKE, THOMPSON & ROBE
&Atoll the cusin se of Corporations and Munkt
pall ties desiring the service of a Rt.gistrar. Trustee
or ?mama. Agent.
FIRST NATIONAL BANK BUILDING
CHICAGO
Cuban Securities
Members N.Y. Stook Exchange
43 Exchange Place
Telephone WS Hanover
BRANCH OFFICE
Bristol Building, 3th Ave. and 4tJd Si
Telephone1658 Bryant
JOHN
H.
WATKINS
MINING EN -INEERS.
MUNICIPAL
H. M. CHANCE
AND
Consulting Alining Engineer and urologist
RAILROAD BONDS
COAL AND MINERAL PROPERTIES
Examined, Developed, Managed
No. 2 WALL STREET
NEW YORK
637 Drexel Bldg.
PHILADELPHIA. PA
587
THE CHRONICLE
FBR. 27 1909.1
Melville Sask.-Debenture Offering.-Proposals will be
received by H. D. Wilson, Secretary-Treasurer, for $6,000
15-year debentures,for the purpose of procuring a fire-fighting
apparatus, grading streets and budding permanent sidewalks.
Moncton, N. B.-Debenture Sale.-This place, according
to reports, has awarded $10,000 4%% 40-year debentures
to F. B. McCurdy & Co. of Halifax.
Moreland School District, Sask.-Debenture Sale.-G. A.
Stimson & Co. of Toronto has purchased, it is stated, $1,500
6% 10-year debentures of this district.
Nokomis, Sask.-Debenture Sale.-The $10,000 6%
20-year town-improvement debentures offered on Feb. 1
(V. 88, p. 179) were awarded, it is stated, to the Ontario
Securities Co. of Toronto.
North Vancouver, B. 0.-Debenture Sale.-On Jan. 19
$30,000 5% water-works debentures were disposed of to
G. A. Stimson & Co. of Toronto at 98 and accrued interest.
Denomination $1,000. Date August 1 1908. Interest
semi-annual. Maturity fifty years, subject to call, however,
at any time at 105.
Port Arthur, Ont.-Debenture Sale.-On Feb. 12 the
eleven issues of 5% 20-year and 30-year debentures aggregating $181,240 96, described in V. 88, p. 400, were awarded
to the Dominion Securities Corporation, Ltd.,of Toronto,
at 107.27 and accrued interest. Following are the bids:
Dominion Sectiritlea Cor$194,417 18
poration, Ltd.,
Ontario Securities Co_ __ 193,867 00
Aemilius Jarvis & Co_ __ _ 193,086 87
192,804 00
Wood, Gundy & Co
British-American Secur$189,395 00
ity Co
186,169 00
Wm. C. Brent
183,700 00
Geo. A. Stimson Fc Co
Brouse, Mitchell & Co_ __ 182,500 00
The above bidders are all of Toronto.
Quinton School District, Sask.-Debenture Sale.-An
issue of $1,200 639' 10-year debentures of this district
was recently purchased by W. A. Mackenzie & Co. of Toronto.
Richmond, Que.-Debenture Sale.-During the month
of Dec. 1908 the $25,000 43-% gold water-works-improvement debentures described in V. 87, p. 252, were sold.
In addition to these, $20,000 local-improvement debentures
were also disposed of. Both issues were bought by R. Wilson
Smith of Montreal at 97 and accrued interest.
St. Boniface, Man.-Debenture Sale.-This place recently
awarded $175,000 5% 30-year local improvement debentures
to W. A. Mackenzie & Co. of Toronto.
Sarnia, Ont.-Price Paid for Debentures.-The price paid
for the $5,500 5% town-hall-improvement debentures
recently awarded to G. A. Stimson & Co. of Toronto (V. 88,
p. 525) was $5,609($101.981) and accrued interest. Interest
annually on Dec. 31 at the Town Treasurer's office. Maturity part yearly on Dec. 31 from 1909 to 1918 inclusive.
Shelby School District, Sask.-Debenture Sale.-This
district, it is stated, has awarded $2,000 10-year debentures
to G. A. Stimson & Co. of Toronto.
Simcoe, Ont.-Debenture Sale.-The three issue, of
coupon debentures, aggregating $21,300, described in V.88„
p. 400, were sold on Feb. 18 to Wood Gundy & Co. of
Toronto at 103.901. Following are the bids:
Wood, Gundy & Co., Tor_$22,131 00 1 British-Am. Sec. Co., Ltd.$21.620 00
W.C. Brent, Toronto_ ___ 22,059 00 Geo. A.Stimson & Co., Tor.21,601 00
H. O'Hara & Co., Toronto 21,976 41 Hanson Bros., Montreal__ 21.562 00
Steiner,Dunlop & Co.,Tor. 21,963 00 The Mercant. Tr. Co., Ltd. 21,558 75
W. A. Mackenzie & Co..
Dominion Sec.Corp., Ltd.,
21,500 00
Toronto
21,913 44
Toronto
Ontario Sec. Co., Toronto. 21,857 00 Brouse, Mitchell & Co., Tor.20,901 00
20,708 85
A. E. Ames & Co., Tor_ _ 21,817 00 Bank of Hamilton
Aemilius Jarvis & Co., Tor. 21,688 00
All bidders offered accrued interest in addition to their
bids. Interest is payable at the Town Treasurer s office.
Verag School District, Sask.-Debenture Sale.-Canadian
papers report the sale of $1,200 8% 10-year debentures of
this district to W. A. Mackenzie & Co. of Toronto.
Wadena, Sask.-Debenture Sale.-On Feb. 15 the $3,850
6% 10-year permanent improvement debentures offered on
that day (V. 88, p. 466) were awarded to W. A. Mackenzie
& Co. of Toronto.
Wetaskiwin, Alberta.-Debenture Sale.-The sale of
$15,000 5% 30-year debentures to W. A. Mackenzie & Co. of
Toronto is said to have taken place recently.
Wolseley, Sask.-Debenture Sale.-The $18,000 53..%
debentures issued as a loan to the Central tight & Power Co.,
voted on Jan. 30(V.88, p. 400),have been awarded to Wood,
Gundy & Co. of Toronto. Maturity part yearly for fifteen
years.
MISCELLANEOUS.
ENGINEERS.
OFFICE OF THE
H.M.Byllesby & Co ATLANTIC MUTUAL INSURANCE COMPANY.
Inooroorated
ENGINEERS
DESIGN,CONSTRUCT AND OPER
ATE RAILWAY, LIGHT, POWER
HYDRAULIC AND GAS PLANWS
EXAMINATIONS and REPORT
New York, January 21st, 190.
The Trustees, in conformity with the Charter of the Company, submit the following statement of Us affairs
on the 31st of December, 1905.
33,307,807 24
Premiums on Marine Risks from 1st January, 1908, to 31st December, 1908
743,389 01
January, 1908
1st
oft
marked
Premiums on Policies not
25
34,651,186
Premiums
Marine
Total
33.333,483 55
Premiums marked off from 1st January, 1908, to 31st December, 1908
3307,823 39
142,032 22
Interest received during the year
Rent less Taxes and Expenses
$449,855 61
paid during the year which were estimated in 1907
$420,655 46
and previous years
1,274,122 22 31,695,477 68
Losses occurred, estimated and paid in 1008
$279,988 33
Less Salvages
479.543 76
199,555 37
Re-insurances
$1,215,933 98
Losses
Asseriean Trust Building, CHICAO4
Mobile Ala,
Oklahoma City, Oklahoma,
San Diego, Cal.
J. G. WHITE & CO..
Engineers, Contractors,
421-49 Exchange Place, - NEW YORE
and Reports on Electric
Light and Power
Transmission Properties for Financial In,
&Muttons and In.estors.
Investigations
Railway, Oas, Electric
Electric Railways, Electric Light ape
Electric Power Plants Financed,
Designed and Built.
Lortibm CorresPorldent:
3.0. WHITE & CO., Limited,
9 Cloak Lane, Cannon St., li C.
Canadian Correspondents:
CANADIAN WHITE CO., Limited,
Montreal
Principal Philippine Office, Manila, P. I
A. L. Drum & Company
Consulting and Constructing Engineers
Electrical - Civil - Mechanical
Physical and Financial Reports
CHICAGO
American Trust Building
Established 1859.
A. L.
& CO.
REGISTER
PEPPER &
Successors to
REGISTER
Engineers & General Contractors
112 North Broad Street, • Philadelphia
Returns of Premiums
Expenses, including officers' salaries and clerks' compensation, stationery,
newspapers, advertisements, etc
351,930 45
1344,266 85
LIABILITIES.
ASSETS.
United States & State of New York
Stock, City, Bank and other Se$5,442,792 00
curities
Special deposits In Banks &TrustCos. 800,000 00
WilliamSts..
&
Wall
cor.
Real Estate
& Exchange Place.$4,299,426 04
Other Real Estate &
claims due the com75,000 00 4,374,426 04
pany
Estimated Losses and Losses Un$2.310;433 00
settled
717.712170
Premiums on Unterminated Risks_
Certificates of Profits and Interest
260.822 35
Unpaid
121,473 66
Return Premiums Unpaid
Certificates of Profits Ordered Redeemed, Withheld for Unpaid
22,339 36
Premiums
Certificates of Profits Outstand00
7,363,410
ing
06
1,377,905
Premium notes and Bills Receivable
270,008 00
Real Estate Reserve
Cash in the hands of European
Bankers to pay losses under poli399,031 95
cies payable in foreign countries_
429,950 18
Cash in Bank
Aggregating
$12,824,105 23
Aggregating
311,066,191 05
A dividend of interest of Six per cent on the outstanding certificates of profits will be paid to the
February next.
holders thereof, or their legal representatives, on and after Tuesday the second of the
holders thereof,
The outstanding certificates of the issue of 1903 will be redeemed and paid to
which date an
or their legal representatives, on and after Tuesday the second of February next,from
Interest thereon will cease. The certificates to be produced at the time of payment and canceled.
for the year
the
of
Company
premiums
earned
net
the
A dividend of Forty per cent is declared on
ending 31st December, 1908, for which, upon application, certificates will be issued on and after
of
By
Board.
the
order
next.
Tuesday the fourth of May
G. STANTON FLOYD-JONES, Secraiary.
TRUSTEES.
GUSTAV AMSINCK,
FRANCIS M. BACON,
JOHN N. BEACH,
WILLIAM B. BOULTON,
VERNON H. BROWN,
WALDRON P. BROWN.
JOHN CLAFLIN,
GEORGE C. CLARK,
CLEVELAND H. DODGE,
CORNELIUS ELDERT,
RICHARD H. EWART.
HERBERT L. GRIGGS,
CLEMENT A. GRISCOM,
ANSON W. HARD.
LEWIS CASS LEDYARD,
FRANCIS H. LEGGETT,
CHARLES D. LEVERICH.
LEANDER N. LOVELL,
GEORGE H. MACY,
CHARLES H. MARSHALL,
W. H. H. MOORE.
NICHOLAS F. PALMER,
HENRY PARISH,
DALLAS B. PRATT,
GEORGE W. QUINTASS.
A. A. RAVEN,
JOHN L. RIKER,
DOUGLAS ROBINSON.
GUSTAV H. SCHWAB.
WILLIAM SI.OANE,
ISAAC STERN,
WILLIAM A. STREET.
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB. 2a Vice-President.
CHARLES E. PAY. 36 Vise-President.
JOHN H JONES STRIVART, 4th Irtee-Prvektest
588
THE CHRONICLE
[VoL. rixxxvin.
Trust Tompanies.
3,Intst (Aompantes.
Meg Stales Trustrt Compaq of 'few DI
Manhattan
45 and 47 Wall street.
CAPITAL,
SURPLUS AND UNDIVIDED PROFITS,
.
•
-
•
$2,000.000.00
$I3,42,561.2 I
Trust
This Company acts as Executor, Administrator, Guardian, Trustee, Court Depositary and in
other r000gnized trust capacities.
/t allows interest at current rates on deposits.
/t holds, manages and invests money, securities and other property, real or personal, for estates.
norporations and individuals.
Company
EDWARD W. SHELDON, President,
JOHN CROSBY BROWN, Vice-Pres.
WILLIAM M. KINGSLEY, 2d V.-P.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTER, Asst. Sec. CHARLES A.EDWARDS,2d,Asst.Sec.
TI?USTEF.S.
JOHN A. STEWART, Chairman of Ms Board.
William H. Macy, Jr..
John Clailn,
William D. Sloane,
John J. Phelps,
Gustav II. Schwab,
John S. Kennedy,
Frank Lyman,
D. O. 11111s,
George F. Victor,
Lewis Cass Ledyard,
James Stillman,
Lyman J. Gage.
John Washy Brown.
W. Bayard Cutting.
Charles S. Smith,
William Rockefeller,
Alexander E. Orr.
20
Payne Whitney.
Edward W. Sheldon
Chauncey Keep,
George L. Rives,
Arthur C. James,
Wall Street
(teener Nassau
NEW YORK
BANKERS TRUST COMPANY
Accountants.
7 WALL STREET, NEW YORK.
Capital $1,000,000
Surplus and Undivided Profits, $1,198,000
DIRECT0RS
STEPHEN BAKER.
EDGAR L. MARSTON.
Pres. Bank of the Manhattan On., N. Y.
Blair do Co., Bankers, N. Y.
SAMUEL G. BAYNE,
GEORGE W. PERKINS,
Pres. Seaboard National Bank, N. Y.
J.
P. Morgan & Co., Bankers, N. Y.
EDWIN M. BULKLEY,
WILLIAM H. PORTER.
Spencer Trask de Co., Bankers, N. Y.
Pres. Chemical National Bank, N. Y.
JAMES U. CANNON_,
VIce-Pres. Fourth National Bank, N. Y.
DANIEI. G. REID,
Vice-Pres. Liberty National Bank, N. Y.
EDMUND C. CONVERSE,
President, New York.
EDWARD P. SWINNEY,
HENRY P. DAVISON.
Pres. First National Bank, Kansas City.
J. P. Morgan & Co.. Bankese. N.. T.
JOHN F. THOMPSON.
WALTER E. FREW,
Vice-President, New York.
Vice-Pres. Corn Exchange Bank, N. Y.
GILBERT G. THORNE.
FREDERICK T. HASKELL,
Vice-Pres. National Park Bank, N. Y.
V.-Pres. Illinois Trust ed_Sav. Bank, Chicago.
EDWARD TOWNSEND,
A BARTON HEPBURN.
Pres. Importers' & Traders' National flank. N.Y.
President Chase National Bank, N. Y.
ALBERT H. WIGGIN.
THOMAS W. LAMONT,
Vice-Pres. Chase National Bank, N. Y.
Vice-Pres dent First Nat'onal lank, N. Y.
GATES W. McGARRAH,
SAMUEL NVOOLVERTON.
President Mechanics' National Bank, N. Y.
President Gallatin National Bank, N. Y.
Particular attention is sailed to the personnel, character and strenath of this
company's directorate. Interest is allowed upon deposits.
E. C. CONVERSE. Pres.
J. F. TI1OMPSON. V.-P.
ii. STRONG Jr.. V.-P.
0.5. POMERO Y, V.-P.
F. I. KENT, V.-P.
F. N. 11. CLOSE,See'Y.
II. W.DONOVAN, Treas,
II. F. Wileon Jr.. A.st, See1'.
IllinoisTrust&SavingsBank
(ILLINOIS)
New York, 30 Pine Street
Milwaukee. 633 t8elln Bldg
ChIcagv, 1315 Monadnock Bleak
nasalsCIty, 1106 Commerce Bldg.
LYBRAND,
ROSS F3ROS &
MONTCOMERY
Certified Public Accountants
iliennnyivanla)
Land Title Building
PHILADELPHIA.
City Inventing Bldg., 165 Broadway
rsi stV 1, 011 .
Union Rank HU Ilding
PITTSBURGH
Certified Public Accountants
Capital and Surplus
ti* 1_ 3,200,000
General Offices
140 Nassau Street,
Pays Interest on Time Deposits, Current and Reserve Accountr
Deals in Investment Securities and Foreign Exchange.
Transacts a General Trust Business.
CORRESPONDENCE INVITED
-
The
Trust Company of America
37-43 WALL STREET, NEW YORK,
COLONIAL BRANCH:
LONDON OFFICE:
Issues interest-bearing certificates of deposit.
Receives deposits subject to check
-
New York
Cable Address:"Audit"
Telephone. 5150 Beekman
JAMES PARK & CO.
comurririum
PUBLIO ACCOUNTANTS
New York, Chicago, Cincinnati and
London, England.
tUDITORS FOR FINANCIAL INSTITUTIONS, INDUSTRIAL AND
MINING COMPANIES
investigations. Financial Statements.
Periodical Audits and Accountins
CLR I !PIED PUBLIC ACCOUNIAN'IS
LITTLE and COODMAN
Telephone .4085 Rector
Audits, loregtigallono Omura, Accounting
U.S. Ex prei.n Bldg ,•1 Rector St., Net. York
LOOEVIIS CONAN'T & CO.
CERTIFIED PUBLIC ACCOUNTANTS
30 Ilroad street, New York
Tel. 4951 Broad
--------
95 Gresham St., London, E. C.
CAPITAL AND SURPLUS $8,000,000
Certified Public Accountants
Fred'k F. Judd dc Co.
CHICAGO
222 Broadway, New York.
Arthur Young & Co.
HARRY J. WELCH
CHARTERED ACCOUNTANT
Audits, Investigations, Cost and General Systems
43 KING ST., W., TORONTO, CANADA
ALFRED ROSE & CO.,
$ti
Certified Public Accountants
Pine Street
NEW YOKE
Telephone 4451 John.
@FedFRASER